Rangemeter [theEccentricTrader]█ OVERVIEW
This indicator simply displays candle and peak to trough ranges in points or pips, depending on the symbol type, in a table, which can be repositioned and resized at the user's discretion.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Open Green and Red Candles
• An open green candle is one that has a close price equal to or above the price it opened, but has not yet closed to confirm the condition.
• An open red candle is one that has a close price lower than the price it opened, but has not yet closed to confirm the condition.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Open Range
An open range is here defined as one that is forming but has not yet completed. For example, a swing low that has an open green candle proceeding a red candle or series of red candles. Or a swing high that has an open red candle proceeding a green candle or series of green candles.
The table will only display the open range under the aforementioned circumstances, otherwise it will display the current, or previous, range.
█ FEATURES
Inputs
• Show Candle Ranges
• Show Largest and Smallest Candle Ranges
• Average Candle Range Lookback
• Show Ranges
• Show Largest and Smallest Ranges
• Average Range Lookback
• Position
• Text Size
█ HOW TO USE
The indicator can be used for strategy filtering and development, gauging current market conditions versus historic and helping to make more informed discretionary trading decisions. It can also be used like my Wavemeter indicator to objectively set the angle and projection ratio for my Fan Projections and Parallel Projections indicators.
█ LIMITATIONS
Some higher timeframe candles on tickers with larger lookbacks such as the DXY , do not actually contain all the open, high, low and close (OHLC) data at the beginning of the chart. Instead, they use the close price for open, high and low prices. So, while we can determine whether the close price is higher or lower than the preceding close price, there is no way of knowing what actually happened intra-bar for these candles. And by default candles that close at the same price as the open price, will be counted as green. You can avoid this problem by ensuring the lookback for the average range does not reach as far back as the start of the chart. If you are unsure about the candle count you can use my Candle Counter indicator to find out how many candles are displayed on the chart.
The green and red candle calculations are based solely on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with. Alternatively, you can replace the scenarios with your own logic to account for the gap anomalies, if you are feeling up to the challenge.
It is also worth noting that the lookback will be limited to your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000.
ค้นหาในสคริปต์สำหรับ "ha溢价率"
JS-TechTrading: VWAP Momentum_Pullback StrategyGeneral Description and Unique Features of this Script
Introducing the VWAP Momentum-Pullback Strategy (long-only) that offers several unique features:
1. Our script/strategy utilizes Mark Minervini's Trend-Template as a qualifier for identifying stocks and other financial securities in confirmed uptrends.
NOTE: In this basic version of the script, the Trend-Template has to be used as a separate indicator on TradingView (Public Trend-Template indicators are available on TradingView – community scripts). It is recommended to only execute buy signals in case the stock or financial security is in a stage 2 uptrend, which means that the criteria of the trend-template are fulfilled.
2. Our strategy is based on the supply/demand balance in the market, making it timeless and effective across all timeframes. Whether you are day trading using 1- or 5-min charts or swing-trading using daily charts, this strategy can be applied and works very well.
3. We have also integrated technical indicators such as the RSI and the MA / VWAP crossover into this strategy to identify low-risk pullback entries in the context of confirmed uptrends. By doing so, the risk profile of this strategy and drawdowns are being reduced to an absolute minimum.
Minervini’s Trend-Template and the ‘Stage-Analysis’ of the Markets
This strategy is a so-called 'long-only' strategy. This means that we only take long positions, short positions are not considered.
The best market environment for such strategies are periods of stable upward trends in the so-called stage 2 - uptrend.
In stable upward trends, we increase our market exposure and risk.
In sideways markets and downward trends or bear markets, we reduce our exposure very quickly or go 100% to cash and wait for the markets to recover and improve. This allows us to avoid major losses and drawdowns.
This simple rule gives us a significant advantage over most undisciplined traders and amateurs!
'The Trend is your Friend'. This is a very old but true quote.
What's behind it???
• 98% of stocks made their biggest gains in a Phase 2 upward trend.
• If a stock is in a stable uptrend, this is evidence that larger institutions are buying the stock sustainably.
• By focusing on stocks that are in a stable uptrend, the chances of profit are significantly increased.
• In a stable uptrend, investors know exactly what to expect from further price developments. This makes it possible to locate low-risk entry points.
The goal is not to buy at the lowest price – the goal is to buy at the right price!
Each stock goes through the same maturity cycle – it starts at stage 1 and ends at stage 4
Stage 1 – Neglect Phase – Consolidation
Stage 2 – Progressive Phase – Accumulation
Stage 3 – Topping Phase – Distribution
Stage 4 – Downtrend – Capitulation
This strategy focuses on identifying stocks in confirmed stage 2 uptrends. This in itself gives us an advantage over long-term investors and less professional traders.
By focusing on stocks in a stage 2 uptrend, we avoid losses in downtrends (stage 4) or less profitable consolidation phases (stages 1 and 3). We are fully invested and put our money to work for us, and we are fully invested when stocks are in their stage 2 uptrends.
But how can we use technical chart analysis to find stocks that are in a stable stage 2 uptrend?
Mark Minervini has developed the so-called 'trend template' for this purpose. This is an essential part of our JS-TechTrading pullback strategy. For our watchlists, only those individual values that meet the tough requirements of Minervini's trend template are eligible.
The Trend Template
• 200d MA increasing over a period of at least 1 month, better 4-5 months or longer
• 150d MA above 200d MA
• 50d MA above 150d MA and 200d MA
• Course above 50d MA, 150d MA and 200d MA
• Ideally, the 50d MA is increasing over at least 1 month
• Price at least 25% above the 52w low
• Price within 25% of 52w high
• High relative strength according to IBD.
NOTE: In this basic version of the script, the Trend-Template has to be used as a separate indicator on TradingView (Public Trend-Template indicators are available in TradingView – community scripts). It is recommended to only execute buy signals in case the stock or financial security is in a stage 2 uptrend, which means that the criteria of the trend-template are fulfilled.
This strategy can be applied to all timeframes from 5 min to daily.
The VWAP Momentum-Pullback Strateg y
For the JS-TechTrading VWAP Momentum-Pullback Strategy, only stocks and other financial instruments that meet the selected criteria of Mark Minervini's trend template are recommended for algorithmic trading with this startegy.
A further prerequisite for generating a buy signals is that the individual value is in a short-term oversold state (RSI).
When the selling pressure is over and the continuation of the uptrend can be confirmed by the MA / VWAP crossover after reaching a price low, a buy signal is issued by this strategy.
Stop-loss limits and profit targets can be set variably.
Relative Strength Index (RSI)
The Relative Strength Index (RSI) is a technical indicator developed by Welles Wilder in 1978. The RSI is used to perform a market value analysis and identify the strength of a trend as well as overbought and oversold conditions. The indicator is calculated on a scale from 0 to 100 and shows how much an asset has risen or fallen relative to its own price in recent periods.
The RSI is calculated as the ratio of average profits to average losses over a certain period of time. A high value of the RSI indicates an overbought situation, while a low value indicates an oversold situation. Typically, a value > 70 is considered an overbought threshold and a value < 30 is considered an oversold threshold. A value above 70 signals that a single value may be overvalued and a decrease in price is likely , while a value below 30 signals that a single value may be undervalued and an increase in price is likely.
For example, let's say you're watching a stock XYZ. After a prolonged falling movement, the RSI value of this stock has fallen to 26. This means that the stock is oversold and that it is time for a potential recovery. Therefore, a trader might decide to buy this stock in the hope that it will rise again soon.
The MA / VWAP Crossover Trading Strategy
This strategy combines two popular technical indicators: the Moving Average (MA) and the Volume Weighted Average Price (VWAP). The MA VWAP crossover strategy is used to identify potential trend reversals and entry/exit points in the market.
The VWAP is calculated by taking the average price of an asset for a given period, weighted by the volume traded at each price level. The MA, on the other hand, is calculated by taking the average price of an asset over a specified number of periods. When the MA crosses above the VWAP, it suggests that buying pressure is increasing, and it may be a good time to enter a long position. When the MA crosses below the VWAP, it suggests that selling pressure is increasing, and it may be a good time to exit a long position or enter a short position.
Traders typically use the MA VWAP crossover strategy in conjunction with other technical indicators and fundamental analysis to make more informed trading decisions. As with any trading strategy, it is important to carefully consider the risks and potential rewards before making any trades.
This strategy is applicable to all timeframes and the relevant parameters for the underlying indicators (RSI and MA/VWAP) can be adjusted and optimized as needed.
Backtesting
Backtesting gives outstanding results on all timeframes and drawdowns can be reduced to a minimum level. In this example, the hourly chart for MCFT has been used.
Settings for backtesting are:
- Period from April 2020 until April 2021 (1 yr)
- Starting capital 100k USD
- Position size = 25% of equity
- 0.01% commission = USD 2.50.- per Trade
- Slippage = 2 ticks
Other comments
• This strategy has been designed to identify the most promising, highest probability entries and trades for each stock or other financial security.
• The RSI qualifier is highly selective and filters out the most promising swing-trading entries. As a result, you will normally only find a low number of trades for each stock or other financial security per year in case you apply this strategy for the daily charts. Shorter timeframes will result in a higher number of trades / year.
• As a result, traders need to apply this strategy for a full watchlist rather than just one financial security.
Oscillator Workbench — Chart [LucF]█ OVERVIEW
This indicator uses an on-chart visual framework to help traders with the interpretation of any oscillator's behavior. The advantage of using this tool is that you do not need to know all the ins and outs of a particular oscillator such as RSI, CCI, Stochastic, etc. Your choice of oscillator and settings in this indicator will change its visuals, which allows you to evaluate different configurations in the context of how the workbench models oscillator behavior. My hope is that by using the workbench, you may come up with an oscillator selection and settings that produce visual cues you find useful in your trading.
The workbench works on any symbol and timeframe. It uses the same presentation engine as my Delta Volume Channels indicator; those already familiar with it will feel right at home here.
█ CONCEPTS
Oscillators
An oscillator is any signal that moves up and down a centerline. The centerline value is often zero or 50. Because the range of oscillator values is different than that of the symbol prices we look at on our charts, it is usually impossible to display an oscillator on the chart, so we typically put oscillators in a separate pane where they live in their own space. Each oscillator has its own profile and properties that dictate its behavior and interpretation. Oscillators can be bounded , meaning their values oscillate between fixed values such as 0 to 100 or +1 to -1, or unbounded when their maximum and minimum values are undefined.
Oscillator weight
How do you display an oscillator's value on a chart showing prices when both values are not on the same scale? The method I use here converts the oscillator's value into a percentage that is used to weigh a reference line. The weight of the oscillator is calculated by maintaining its highest and lowest value above and below its centerline since the beginning of the chart's history. The oscillator's relative position in either of those spaces is then converted to a percentage, yielding a positive or negative value depending on whether the oscillator is above or below its centerline. This method works equally well with bounded and unbounded oscillators.
Oscillator Channel
The oscillator channel is the space between two moving averages: the reference line and a weighted version of that line. The reference line is a moving average of a type, source and length which you select. The weighted line uses the same settings, but it averages the oscillator-weighted price source.
The weight applied to the source of the reference line can also include the relative size of the bar's volume in relation to previous bars. The effect of this is that the oscillator's weight on bars with higher total volume will carry greater weight than those with lesser volume.
The oscillator channel can be in one of four states, each having its corresponding color:
• Bull (teal): The weighted line is above the reference line.
• Strong bull (lime): The bull condition is fulfilled and the bar's close is above the reference line and both the reference and the weighted lines are rising.
• Bear (maroon): The weighted line is below the reference line.
• Strong bear (pink): The bear condition is fulfilled and the bar's close is below the reference line and both the reference and the weighted lines are falling.
Divergences
In the context of this indicator, a divergence is any bar where the slope of the reference line does not match that of the weighted line. No directional bias is assigned to divergences when they occur. You can also choose to define divergences as differences in polarity between the oscillator's slope and the polarity of close-to-close values. This indicator's divergences are designed to identify transition levels. They have no polarity; their bullish/bearish bias is determined by the behavior of price relative to the divergence channel after the divergence channel is built.
Divergence Channel
The divergence channel is the space between two levels (by default, the bar's low and high ) saved when divergences occur. When price has breached a channel and a new divergence occurs, a new channel is created. Until that new channel is breached, bars where additional divergences occur will expand the channel's levels if the bar's price points are outside the channel.
Price breaches of the divergence channel will change its state. Divergence channels can be in one of five different states:
• Bull (teal): Price has breached the channel to the upside.
• Strong bull (lime): The bull condition is fulfilled and the oscillator channel is in the strong bull state.
• Bear (maroon): Price has breached the channel to the downside.
• Strong bear (pink): The bear condition is fulfilled and the oscillator channel is in the strong bear state.
• Neutral (gray): The channel has not been breached.
█ HOW TO USE THE INDICATOR
Load the indicator on an active chart (see here if you don't know how).
The default configuration displays:
• The Divergence channel's levels.
• Bar colors using the state of the oscillator channel.
The default settings use:
• RSI as the oscillator, using the close source and a length of 20 bars.
• An Arnaud-Legoux moving average on the close and a length of 20 bars as the reference line.
• The weighted version of the reference line uses only the oscillator's weight, i.e., without the relative volume's weight.
The weighted line is capped to three standard deviations of the reference.
• The divergence channel's levels are determined using the high and low of the bars where divergences occur.
Breaches of the channel require a bar's low to move above the top of the channel, and the bar's high to move below the channel's bottom.
No markers appear on the chart; if you want to create alerts from this script, you will need first to define the conditions that will trigger the markers, then create the alert, which will trigger on those same conditions.
To learn more about how to use this indicator, you must understand the concepts it uses and the information it displays, which requires reading this description. There are no videos to explain it.
█ FEATURES
The script's inputs are divided in five sections: "Oscillator", "Oscillator channel", "Divergence channel", "Bar Coloring" and "Marker/Alert Conditions".
Oscillator
This is where you configure the oscillator you want to study. Thirty oscillators are available to choose from, but you can also use an oscillator from another indicator that is on your chart, if you want. When you select an external indicator's plot as the oscillator, you must also specify the value of its centerline.
Oscillator Channel
Here, you control the visibility and colors of the reference line, its weighted version, and the oscillator channel between them.
You also specify what type of moving average you want to use as a reference line, its source and its length. This acts as the oscillator channel's baseline. The weighted line is also a moving average of the same type and length as the reference line, except that it will be calculated from the weighted version of the source used in the reference line. By default, the weighted line is capped to three standard deviations of the reference line. You can change that value, and also elect to cap using a multiple of ATR instead. The cap provides a mechanism to control how far the weighted line swings from the reference line. This section is also where you can enable the relative volume component of the weight.
Divergence Channel
This is where you control the appearance of the divergence channel and the key price values used in determining the channel's levels and breaching conditions. These choices have an impact on the behavior of the channel. More generous level prices like the default low and high selection will produce more conservative channels, as will the default choice for breach prices.
In this section, you can also enable a mode where an attempt is made to estimate the channel's bias before price breaches the channel. When it is enabled, successive increases/decreases of the channel's top and bottom levels are counted as new divergences occur. When one count is greater than the other, a bull/bear bias is inferred from it. You can also change the detection mode of divergences, and choose to display a mark above or below bars where divergences occur.
Bar Coloring
You specify here:
• The method used to color chart bars, if you choose to do so.
• If you want to hollow out the bodies of bars where volume has not increased since the last bar.
Marker/Alert Conditions
Here, you specify the conditions that will trigger up or down markers. The trigger conditions can include a combination of state transitions of the oscillator and the divergence channels. The triggering conditions can be filtered using a variety of conditions.
Configuring the marker conditions is necessary before creating an alert from this script, as the alert will use the marker conditions to trigger.
Realtime values will repaint, as is usually the case with oscillators, but markers only appear on bar closes, so they will not repaint. Keep in mind, when looking at markers on historical bars, that they are positioned on the bar when it closes — NOT when it opens.
Raw values
The raw values calculated by this script can be inspected using the Data Window, including the oscillator's value and the weights.
█ INTERPRETATION
Except when mentioned otherwise, this section's charts use the indicator's default settings, with different visual components turned on or off.
The aim of the oscillator channel is to provide a visual representation of an oscillator's general behavior. The simplest characteristic of the channel is its bull/bear state, determined by whether the weighted line is above or below the reference line. One can then distinguish between its bull and strong bull states, as transitions from strong bull to bull states will generally happen when trends are losing steam. While one should not infer a reversal from such transitions, they can be a good place to tighten stops. Only time will tell if a reversal will occur. One or more divergences will often occur before reversals. This shows the oscillator channel, with the reference line and the thicker, weighted line:
The nature of the divergence channel 's design makes it particularly adept at identifying consolidation areas if its settings are kept on the conservative side. The divergence channel will also reveal transition areas. A gray divergence channel should usually be considered a no-trade zone. More adventurous traders can use the oscillator channel to orient their trade entries if they accept the risk of trading in a neutral divergence channel, which by definition will not have been breached by price. This show only the divergence channels:
This chart shows divergence channels and their levels, and colors bars on divergences and on the state of the oscillator channel, which is not visible on the chart:
If your charts are already busy with other stuff you want to hold on to, you could consider using only the chart bar coloring component of this indicator. Here we only color bars using the combined state of the oscillator and divergence channel, and we do not color the bodies of bars where volume has not increased. Note that my chart's settings do not color the candle bodies:
At its simplest, one way to use this indicator would be to look for overlaps of the strong bull/bear colors in both the oscillator channel and a divergence channel, as these identify points where price is breaching the divergence channel when the oscillator's state is consistent with the direction of the breach.
Tip
One way to use the Workbench is to combine it with my Delta Volume Channels indicator. If both indicators use the same MA as a reference line, you can display its delta volume channel instead of the oscillator channel.
This chart shows such a setup. The Workbench displays its divergence levels, the weighted reference line using the default RSI oscillator, and colors bars on divergences. The DV Channels indicator only displays its delta volume channel, which uses the same MA as the workbench for its baseline. This way you can ascertain the volume delta situation in contrast with the visuals of the Workbench:
█ LIMITATIONS
• For some of the oscillators, assumptions are made concerning their different parameters when they are more complex than just a source and length.
See the `oscCalc()` function in this indicator's code for all the details, and ask me in a comment if you can't find the information you need.
• When an oscillator using volume is selected and no volume information is available for the chart's symbol, an error will occur.
• The method I use to convert an oscillator's value into a percentage is fragile in the early history of datasets
because of the nascent expression of the oscillator's range during those early bars.
█ NOTES
Working with this workbench
This indicator is called a workbench for a reason; it is designed for traders interested in exploring its behavior with different oscillators and settings, in the hope they can come up with a setup that suits their trading methodology. I cannot tell you which setup is the best because its setup should be compatible with your trading methodology, which may require faster or slower transitions, thus different configurations of the settings affecting the calculations of the divergence channels.
For Pine Script™ Coders
• This script uses the new overload of the fill() function which now makes it possible to do vertical gradients in Pine. I use it for both channels displayed by this script.
• I use the new arguments for plot() 's `display` parameter to control where the script plots some of its values,
namely those I only want to appear in the script's status line and in the Data Window.
• I used my ta library for some of the oscillator calculations and helper functions.
• I also used TradingView's ta library for other oscillator calculations.
• I wrote my script using the revised recommendations in the Style Guide from the Pine v5 User Manual.
tvbot Trend Following with Mean Reversion algoDefault settings are for the ETHUSDT 5 min Binance Chart regular candles.
Back test Default settings are 10,000 usd to start, Commission 0.075%, capital deployment per position is 10%, slippage value of 1.
This algo uses the EMA to set the trend line . You are also able to turn the trend line into a range instead of just a static line. The algo uses the VWMA to set the base entry parameters. When a candle closes above or below the VWMA it will record that price and then wait for the VWMA to meet the candle close price. When that happens the Base entry condition is met. (it causes the vwma to create a hook like structure. essentially tell you that the momentum has changed directions.)
The algo will always check to see if the trend line has either breached or has been tested and held. If this condition has been met it will then go to the base entry condition to check to see if the momentum has changed.
There is a mean reversion component in this algo as well. When the price has moved away from the mean(set by user) by a certain amount the algo will start to look for a top or bottom. Once that condition has been met it will then use the base entry condition to look for a change in momentum, but the mean reversion base entry condition uses the HMA to check for a change in momentum.
This algo effectively looks like a hamburger. Mean reversion being the tops and bottoms(bun) and the trend following(beef patty)
Goertzel Cycle Period [Loxx]Goertzel Cycle Period is an indicator that uses Goertzel algorithm to extract the cycle period of ticker's price input to then be injected into advanced, adaptive indicators and technical analysis algorithms.
The following information is extracted from: "MESA vs Goertzel-DFT, 2003 by Dennis Meyers"
Background
MESA which stands for Maximum Entropy Spectral Analysis is a widely used mathematical technique designed to find the frequencies present in data. MESA was developed by J.P Burg for his Ph.D dissertation at Stanford University in 1975. The use of the MESA technique for stocks has been written about in many articles and has been popularized as a trading technique by John Ehlers.
The Fourier Transform is a mathematical technique named after the famed French mathematician Jean Baptiste Joseph Fourier 1768-1830. In its digital form, namely the discrete-time Fourier Transform (DFT) series, is a widely used mathematical technique to find the frequencies of discrete time sampled data. The use of the DFT has been written about in many articles in this magazine (see references section).
Today, both MESA and DFT are widely used in science and engineering in digital signal processing. The application of MESA and Fourier mathematical techniques are prevalent in our everyday life from everything from television to cell phones to wireless internet to satellite communications.
MESA Advantages & Disadvantage
MESA is a mathematical technique that calculates the frequencies of a time series from the autoregressive coefficients of the time series. We have all heard of regression. The simplest regression is the straight line regression of price against time where price(t) = a+b*t and where a and b are calculated such that the square of the distance between price and the best fit straight line is minimized (also called least squares fitting). With autoregression we attempt to predict tomorrows price by a linear combination of M past prices.
One of the major advantages of MESA is that the frequency examined is not constrained to multiples of 1/N (1/N is equal to the DFT frequency spacing and N is equal to the number of sample points). For instance with the DFT and N data points we can only look a frequencies of 1/N, 2/N, Ö.., 0.5. With MESA we can examine any frequency band within that range and any frequency spacing between i/N and (i+1)/N . For example, if we had 100 bars of price data, we might be interested in looking for all cycles between 3 bars per cycle and 30 bars/ cycle only and with a frequency spacing of 0.5 bars/cycle. DFT would examine all bars per cycle of between 2 and 50 with a frequency spacing constrained to 1/100.
Another of the major advantages of MESA is that the dominant spectral (frequency) peaks of the price series, if they exist, can be identified with fewer samples than the DFT technique. For instance if we had a 10 bar price period and a high signal to noise ratio we could accurately identify this period with 40 data samples using the MESA technique. This same resolution might take 128 samples for the DFT. One major disadvantage of the MESA technique is that with low signal to noise ratios, that is below 6db (signal amplitude/noise amplitude < 2), the ability of MESA to find the dominant frequency peaks is severely diminished.(see Kay, Ref 10, p 437). With noisy price series this disadvantage can become a real problem. Another disadvantage of MESA is that when the dominant frequencies are found another procedure has to be used to get the amplitude and phases of these found frequencies. This two stage process can make MESA much slower than the DFT and FFT . The FFT stands for Fast Fourier Transform. The Fast Fourier Transform(FFT) is a computationally efficient algorithm which is a designed to rapidly evaluate the DFT. We will show in examples below the comparisons between the DFT & MESA using constructed signals with various noise levels.
DFT Advantages and Disadvantages.
The mathematical technique called the DFT takes a discrete time series(price) of N equally spaced samples and transforms or converts this time series through a mathematical operation into set of N complex numbers defined in what is called the frequency domain. Why would we what to do that? Well it turns out that we can do all kinds of neat analysis tricks in the frequency domain which are just to hard to do, computationally wise, with the original price series in the time domain. If we make the assumption that the price series we are examining is made up of signals of various frequencies plus noise, than in the frequency domain we can easily filter out the frequencies we have no interest in and minimize the noise in the data. We could then transform the resultant back into the time domain and produce a filtered price series that hopefully would be easier to trade. The advantages of the DFT and itís fast computation algorithm the FFT, are that it is extremely fast in calculating the frequencies of the input price series. In addition it can determine frequency peaks for very noisy price series even when the signal amplitude is less than the noise amplitude. One of the disadvantages of the FFT is that straight line, parabolic trends and edge effects in the price series can distort the frequency spectrum. In addition, end effects in the price series can distort the frequency spectrum. Another disadvantage of the FFT is that it needs a lot more data than MESA for spectral resolution. However this disadvantage has largely been nullified by the speed of today's computers.
Goertzel algorithm attempts to resolve these problems...
What is the Goertzel algorithm?
The Goertzel algorithm is a technique in digital signal processing (DSP) for efficient evaluation of the individual terms of the discrete Fourier transform (DFT). It is useful in certain practical applications, such as recognition of dual-tone multi-frequency signaling (DTMF) tones produced by the push buttons of the keypad of a traditional analog telephone. The algorithm was first described by Gerald Goertzel in 1958.
Like the DFT, the Goertzel algorithm analyses one selectable frequency component from a discrete signal. Unlike direct DFT calculations, the Goertzel algorithm applies a single real-valued coefficient at each iteration, using real-valued arithmetic for real-valued input sequences. For covering a full spectrum, the Goertzel algorithm has a higher order of complexity than fast Fourier transform (FFT) algorithms, but for computing a small number of selected frequency components, it is more numerically efficient. The simple structure of the Goertzel algorithm makes it well suited to small processors and embedded applications.
The main calculation in the Goertzel algorithm has the form of a digital filter, and for this reason the algorithm is often called a Goertzel filter
Where is Goertzel algorithm used?
This package contains the advanced mathematical technique called the Goertzel algorithm for discrete Fourier transforms. This mathematical technique is currently used in today's space-age satellite and communication applications and is applied here to stock and futures trading.
While the mathematical technique called the Goertzel algorithm is unknown to many, this algorithm is used everyday without even knowing it. When you press a cell phone button have you ever wondered how the telephone company knows what button tone you pushed? The answer is the Goertzel algorithm. This algorithm is built into tiny integrated circuits and immediately detects which of the 12 button tones(frequencies) you pushed.
Future Additions:
Bartels test for cycle significance, testing output cycles for utility
Hodrick Prescott Detrending, smoothing
Zero-Lag Regression Detrending, smoothing
High-pass or Double WMA filtering of source input price data
References:
1. Burg, J. P., ëMaximum Entropy Spectral Analysisî, Ph.D. dissertation, Stanford University, Stanford, CA. May 1975.
2. Kay, Steven M., ìModern Spectral Estimationî, Prentice Hall, 1988
3. Marple, Lawrence S. Jr., ìDigital Spectral Analysis With Applicationsî, Prentice Hall, 1987
4. Press, William H., et al, ìNumerical Receipts in C++: the Art of Scientific Computingî,
Cambridge Press, 2002.
5. Oppenheim, A, Schafer, R. and Buck, J., ìDiscrete Time Signal Processingî, Prentice Hall,
1996, pp663-634
6. Proakis, J. and Manolakis, D. ìDigital Signal Processing-Principles, Algorithms and
Applicationsî, Prentice Hall, 1996., pp480-481
7. Goertzel, G., ìAn Algorithm for he evaluation of finite trigonometric seriesî American Math
Month, Vol 65, 1958 pp34-35.
Better Heiken-Ashi Candles w/ Expanded Source Types [Loxx]Better Heiken-Ashi Candles w/ Expanded Source Types is an indicator to compare regular candles to traditional Heiken-Ashi candles to "better" Heiken Ashi candles. This indicator and comparison study appears an oscillator. The purpose of this indicator is to demonstrate a better way to calculate HA candles and also to demonstrate expanded source types. This indicator is meant to be used by advanced Pine Coders who wish to add fine-tuning to their indicators and strategies.
What are Heiken Ashi "better" candles?
The "better formula" was proposed in an article/memo by BNP-Paribas (In Warrants & Zertifikate, No. 8, August 2004 (a monthly German magazine published by BNP Paribas, Frankfurt), there is an article by Sebastian Schmidt about further development (smoothing) of Heikin-Ashi chart.)
They proposed to use the following :
(Open+Close)/2+(((Close-Open)/(High-Low))*ABS((Close-Open)/2))
instead of using :
haClose = (O+H+L+C)/4
According to that document the HA representation using their proposed formula is better than the traditional formula.
What are traditional Heiken-Ashi candles?
The Heikin-Ashi technique averages price data to create a Japanese candlestick chart that filters out market noise.
Heikin-Ashi charts, developed by Munehisa Homma in the 1700s, share some characteristics with standard candlestick charts but differ based on the values used to create each candle. Instead of using the open, high, low, and close like standard candlestick charts, the Heikin-Ashi technique uses a modified formula based on two-period averages. This gives the chart a smoother appearance, making it easier to spots trends and reversals, but also obscures gaps and some price data.
What's going on with this indicator?
- First, we have the options to select the candlestick type: Regular, HA, HA Better
- Next, and to demonstrate the expanded source types, I've added a simple moving average. In the drop down for the SMA source you'll notice something very different from the typical TradingView source selector. Here's how to decode the new names for the sources:
Close = close
Open = open
High = high
Low = low
Median = hl2
Typical = hlc3
Weighted = hlcc4
Average = ohlc4
Average Median Body = (open+close)/2
Trend Biased = (see code, too complex to explain here)
Trend Biased (extreme) = (see code, too complex to explain here)
... for HA and HA better, see the same set up as above but with different open and close values to calcualate the other source types
- For the HA better calculations, we run the close value through either an Adaptive, Kaufman, or T3 smoothing filter. The length for these smoothing filters, either 2 or 3, can be found in the code and is a constant value that shouldn't be changed. This smoothing is in inline with what is described in the article mentioned above
- Lastly, I've placed an SMA over the oscillator so that the user can test out the various sources explained above
Included:
- Toggle on/off bar coloring
stoch supertrd atr 200maThis strategy combines Supertrend, 200 EMA, Stochastic, and an ATR stop loss indicator. For buy conditions, the Stochastic has to be below the 20 level, price has to be above the 200 Ema and the Supertrend has to be green. For sell conditions, it has to be the opposite. the Stochastic has to be above the 80 level, price has to be below the 200 Ema and the Supertrend has to be red.
Realtime FootprintThe purpose of this script is to gain a better understanding of the order flow by the footprint. To that end, i have added unusual features in addition to the standard features.
I use "Real Time 5D Profile by LucF" main engine to create basic footprint(profile type) and added some popular features and my favorites.
This script can only be used in realtime, because tradingview doesn't provide historical Bid/Ask date.
Bid/Ask date used this script are up/down ticks.
This script can only be used by time based chart (1m, 5m , 60m and daily etc)
This script use many labels and these are limited max 500, so you can't display many bars.
If you want to display foot print bars longer, turn off the unused sub-display function.
Default setting is footprint is 25 labels, IB count is 1, COT high and Ratio high is 1, COT low and Ratio low is 1 and Delta Box Ratio Volume is 1 , total 29.
plus UA , IB stripes , ladder fading mark use several labels.
///////// General Setting ///////////
Resets on Volume / Range bar
: If you want to use simple time based Resets on, please set Total Volume is 0.
Your timeframe is always the first condition. So if you set Total Volume is 1000, both conditions(Volume >= 1000 and your timeframe start next bar) must be met. (that is, new footprint bar doesn't start at when total volume = exactly 1000).
Ticks per row and Maximum row of Bar
: 1 is minimum size(tick). "Maximum row of Bar" decide the number of rows used in one footprint. 1 row is created from 1 label, so you need to reduce this number to display many footprints (Max label is 500).
Volume Filter and For Calculation and Display
: "Volume Filter" decide minimum size of using volume for this script.
"For Calculation and Display" is used to convert volume to an integer.
This script only use integer to make profile look better (I contained Bid number and Ask number in one row( one label) to saving labels. This require to make no difference in width by the number of digits and this script corresponds integers from 0 to 3 digits).
ex) Symbol average volume size is from 0.0001 to 0.001. You decide only use Volume >= 0.0005 by "Volume Filter".
Next, you convert volume to integer, by setting "For Calculation and Display" is 1000 (0.0005 * 1000 = 5).
If 0.00052 → 5.2 → 5, 0.00058 → 5.8 → 6 (Decimal numbers are rounded off)
This integer is used to all calculation in this script.
//////// Main Display ///////
Footprint, Total, Row Delta, Diagonal Delta and Profile
: "Footprint" display Ask and Bid per row. "Total" display Ask + Bid per row.
"Row Delta" display Ask - Bid per row. "Diagonal Delta" display Ask(row N) - Bid(row N -1) per row.
Profile display Total Volume(Ask + Bid) per row by using Block. Profile Block coloring are decided by Row Delta value(default: positive Row Delta (Ask > Bid) is greenish colors and negative Row Delta (Ask < Bid) is reddish colors.)
Volume per Profile Block, Row Imbalance Ratio and Delta Bull/Bear/Neutral Colors
: "Volume per Profile Block" decide one block contain how many total volume.
ex) When you set 20, Total volume 70 display 3 block.
The maximum number of blocks that can be used per low is 20.
So if you set 20, Total volume 400 is 20 blocks. total volume 800 is 20 blocks too.
"Row Imbalance Ratio" decide block coloring. The row imbalance is that the difference between Ask and Bid (row delta) is large.
default is x3, x2 and x1. The larger the difference, the brighter the color.
ex) Ask 30 Bid 10 is light green. Ask 20 Bid 10 is green. Ask 11 Bid 10 is dark green.
Ask 0 Bid 1 is light red. Ask 1 Bid 2 is red. ask 30 Bid 59 is dark green.
Ask 10 Bid 10 is neutral color(gray)
profile coloring is reflected same row's other elements(Ask, Bid, Total and Delta) too.
It's because one label can only use one text color.
/////// Sub Display ///////
Delta, total and Commitment of Traders
: "Delta" is total Ask - total Bid in one footprint bar. Total is total Ask + total Bid in one footprint bar.
"Commitment of traders" is variation of "Delta". COT High is reset to 0 when current highest is touched. COT Low is opposite.
Basic concept of Delta is to compare price with Delta. Ordinary, when price move up, delta is positive. Price move down is negative delta.
This is because market orders move price and market orders are counted by Delta (although this description is not exactly correct).
But, sometimes prices do not move even though many market orders are putting pressure on price , or conversely, price move strongly without many market orders.
This is key point. Big player absorb market orders by iceberg order(Subdivide large orders and pretend to be small limit orders.
Small limit orders look weak in the order book, but they are added each time you fill, so they are more powerful than they look.), so price don't move.
On the other hand, when the price is moving easily, smart players may be aiming to attract and counterattack to a better price for them.
It's more of a sport than science, and there's always no right response. Pay attention to the relationship between price, volume and delta.
ex) If COT Low is large negative value, it means many sell market orders is coming, but iceberg order is absorbing their attack at limit order.
you should not do buy entry, only this clue. but this is one of the hints.
"Delta, Box Ratio and Total texts is contained same label and its color are "Delta" coloring. Positive Delta is Delta Bull color(green),Negative Delta is Delta Bear Color
and Delta = 0 is Neutral Color(gray). When Delta direction and price direction are opposite is Delta Divergence Color(yellow).
I didn't add the cumulative volume delta because I prefer to display the CVD line on the price chart rather than the number.
Box Ratio , Box Ratio Divisor and Heavy Box Ratio Ratio
: This is not ordinary footprint features, but I like this concept so I added.
Box Ratio by Richard W. Arms is simple but useful tool. calculation is "total volume (one bar) divided by Bar range (highest - lowest)."
When Bull and bear are fighting fiercely this number become large, and then important price move happen.
I made average BR from something like 5 SMA and if current BR exceeds average BR x (Heavy Box Ratio Ratio), BR box mark will be filled.
Box Ratio Divisor is used to good looking display(BR multiplied by Box Ratio Divisor is rounded off and displayed as an integer)
Diagonal Imbalance Count , D IB Mark and D IB Stripes
: Diagonal Imbalance is defined by "Diagonal Imbalance Ratio".
ex) You set 2. When Ask(row N) 30 Bid(row N -1)10, it's 30 > 10*2, so positive Diagonal Imbalance.
When Ask(row N) 4 Bid(row N -1)9, it's 4*2 < 9, so negative Diagonal Imbalance.
This calculation does not use equals to avoid Ask(row N) 0 Bid(row N -1)0 became Diagonal Imbalance.
Ask(row N) 0 Bid(row N -1)0, it's 0 = 0*2, not Diagonal Imbalance. Ask(row N) 10 Bid(row N -1)5, it's 10 = 5*2, not Diagonal Imbalance.
"D IB Mark" emphasize Ask or Bid number which is dominant side(Winner of Diagonal Imbalance calculation), by under line.
"Diagonal Imbalance Count" compare Ask side D IB Mark to Bid side D IB Mark in one footprint.
Coloring depend on which is more aggressive side (it has many IB Mark) and When Aggressive direction and price direction are opposite is Delta Divergence Color(yellow).
"D IB Stripes" is a function that further emphasizes with an arrow Mark, when a DIB mark is added on the same side for three consecutive row. Three consecutive arrow is added at third row.
Unfinished Auction, Ratio Bounds and Ladder fading Mark
: "Unfinished Auction" emphasize highest or lowest row which has both Ask and Bid, by Delta Divergence Color(yellow) XXXXXX mark.
Unfinished Auction sometimes has magnet effect, price may touch and breakout at UA side in the future.
This concept is famous as profit taking target than entry decision.
But, I'm interested in the case that Big player make fake breakout at UA side and trapped retail traders, and then do reversal with retail traders stop-loss hunt.
Anyway, it's not stand alone signal.
"Ratio Bounds" gauge decrease of pressure at extreme price. Ratio Bounds High is number which second highest ask is divided by highest ask.
Ratio Bounds Low is number which second lowest bid is divided by lowest bid. The larger the number, the less momentum the price has.
ex)first footprint bar has Ratio Bounds Low 2, second footprint bar has RBL 4, third footprint bar has RBL 20.
This indicates that the bear's power is gradually diminishing.
"Ladder fading mark" emphasizes the decrease of the value in 3 consecutive row at extreme price. I added two type Marks.
Ask/Bid type(triangle Mark) is Ask/Bid values are decreasing of three consecutive row at extreme price.
Row Imbalance type(Diamond Mark) are row Imbalance values are decreasing of three consecutive row at extreme price.
ex)Third lowest Bid 40, second lowest Bid 10 and lowest Bid 5 have triangle up Mark. That is bear's power is gradually diminishing.
(This Mark only check Bid value at lowest price and Ask value at highest price).
Third highest row delta + 60, second highest row delta + 5, highest delta - 20 have diamond Mark. That is Bull's power is gradually diminishing.
Sub display use Delta colors at bottom of Sub display section.
////// Candle & POC /////////
candle and POC
: Ordinary, "POC" Point of Control is row of largest total volume, but this script'POC is volume weighted average.
This is because the regular POC was visually displayed by the profile ,and I was influenced LucF's ideas.
POC coloring is decided in relation to the previous POC. When current POC is higher than previous POC, color is UP Bar Color(green).
In the opposite case, Down Bar color is used.
POC Divergence Color is used when Current POC is up but current bar close is lower than open (Down price Bar),or in the opposite case.
POC coloring has option also highlight background by Delta Divergence Color(yellow). but bg color is displayed at your time frame current price bar not current footprint bar.
The basic explanation is over.
I add some image to promote understanding basic ideas.
[fikira] MTF MA/EMA'sHere is my take on MA/EMA's and MTF, based on the most excellent work of
"PineCoders" (MTF Selection Framework functions)!
The big advantage is that on 1 image you can easily see where
price is compared to different MA/EMA's (each of different Time Frames).
This gives a lot of Support and Resistance area's!
Includes:
- MA/EMA 20
- MA/EMA 50
- MA/EMA 100
- MA/EMA 200
The present Time Frame MA/EMA has a coloured circle at the side.
Each can be altered in length (the length is visible at the side and changed with the settings)
Each has an extra 4 different Time Frames (multiple settings possible)
Crossover and crossunder MA/EMA 50 with 100 (Silver Cross) and 200 (Golden Cross) is included.
The present Time Frame Cross has a "o" above the Cross
Time Frame 1 Cross has a "1" above the Cross
Time Frame 1 Cross has a "2" above the Cross
Time Frame 1 Cross has a "3" above the Cross
Time Frame 1 Cross has a "4" above the Cross
Parametric Corrective Linear Moving AveragesImpulse responses can fully describe their associated systems, for example a linearly weighted moving average (WMA) has a linearly decaying impulse response, therefore we can deduce that lag is reduced since recent values are the ones with the most weights, the Blackman moving average (or Blackman filter) has a bell shaped impulse response, that is mid term values are the ones with the most weights, we can deduce that such moving average is pretty smooth, the least squares moving average has negative weights, we can therefore deduce that it aim to heavily reduce lag, and so on. We could even estimate the lag of a moving average by looking at its impulse response (calculating the lag of a moving average is the aim of my next article with Pinescripters) .
Today a new moving average is presented, such moving average use a parametric rectified linear unit function as weighting function, we will see that such moving average can be used as a low lag moving average as well as a signal moving average, thus creating a moving average crossover system. Finally we will estimate the LSMA using the proposed moving average.
Correctivity And The Parametric Rectified Linear Unit Function
Lot of terms are used, each representing one thing, lets start with the easiest one,"corrective". In some of my posts i may have used the term "underweighting", which refer to the process of attributing negative weights to the input of a moving average, a corrective moving average is simply a moving average underweighting oldest values of the input, simply put most of the low lag moving averages you'll find are corrective. This term was used by Aistis Raudys in its paper "Optimal Negative Weight Moving Average for Stock Price Series Smoothing" and i felt like it was a more elegant term to use instead of "low-lag".
Now we will describe the parametric rectified linear unit function (PReLU), this function is the one used as weighting function and is not that complex. This function has two inputs, alpha , and x , in short if x is greater than 0, x remain unchanged, however if x is lower than 0, then the function output is alpha × x , if alpha is equal to 1 then the function is equivalent to an identity function, if alpha is equal to 0 then the function is equivalent to a rectified unit function.
PReLU is mostly used in neural network design as an activation function, i wont explain to you how neural networks works but remember that neural networks aim to mimic the neural networks in the brain, and the activation function mimic the process of neuron firing. Its a super interesting topic because activation functions regroup many functions that can be used for technical indicators, one example being the inverse fisher RSI who make use of the hyperbolic tangent function.
Finally the term parametric used here refer to the ability of the user to change the aspect of the weighting function thanks to certain settings, thinking about it, it isn't a common things for moving averages indicators to let the user modify the characteristics of the weighting function, an exception being the Arnaud Legoux moving average (ALMA) which weighting function is a gaussian function, the user can control the peak and width of the function.
The Indicator
The indicator has two moving averages displayed on the chart, a trigger moving average (in blue) and a signal moving average (in red), their crosses can generate signals. The length parameter control the filter length, with higher values of length filtering longer term price fluctuations.
The percentage of negative weights parameter aim to determine the percentage of negative weights in the weighting function, note that the signal moving average won't use the same amount and will use instead : 100 - Percentage , this allow to reverse the weighting function thus creating a more lagging output for signal. Note that this parameter is caped at 50, this is because values higher than 50 would make the trigger moving average become the signal moving average, in short it inverse the role of the moving averages, that is a percentage of 25 would be the same than 75.
In red the moving average using 25% of negative weights, in blue the same moving average using 14% percent of negative weights. In theory, more negative weights = less lag = more overshoots.
Here the trigger MA in blue has 0% of negative weights, the trigger MA in green has however 35% of negative weights, the difference in lag can be clearly seen. In the case where there is 0% of negative weights the trigger become a simple WMA while the signal one become a moving average with linearly increasing weights.
The corrective factor is the same as alpha in PReLU, and determine the steepness of the negative weights line, this parameter is constrained in a range of (0,1), lower values will create a less steep negative weights line, this parameter is extremely useful when we want to reduce overshoots, an example :
here the corrective factor is equal to 1 (so the weighting function is an identity function) and we use 45% of negative weights, this create lot of overshoots, however a corrective factor of 0.5 reduce them drastically :
Center Of Linearity
The impulse response of the signal moving average is inverse to the impulse response of the trigger moving average, if we where to show them together we would see that they would crosses at a point, denoted center of linearity, therefore the crosses of each moving averages correspond to the cross of the center of linearity oscillator and 0 of same period.
This is also true with the center of gravity oscillator, linear covariance oscillator and linear correlation oscillator. Of course the center of linearity oscillator is way more efficient than the proposed indicator, and if a moving average crossover system is required, then the wma/sma pair is equivalent and way more efficient, who would know that i would propose something with more efficient alternatives ? xD
Estimating A Least Squares Moving Average
I guess...yeah...but its not my fault you know !!! Its a linear weighting function ! What can i do about it ?
The least squares moving average is corrective, its weighting function is linearly decreasing and posses negative weights with an amount of negative weights inferior to 50%, now we only need to find the exact percentage amount of negative weights. How to do it ? Well its not complicated if we recall the estimation with the WMA/SMA combination.
So, an LSMA of period p is equal to : 3WMA(p) - 2SMA(p) , each coefficient of the combination can give us this percentage, that is 2/3*100 = 33.333 , so there are 33.33% percent of negative weights in the weighting function of the least squares moving average.
In blue the trigger moving average with percentage of negative values et to 33.33, and in green the lsma of both period 50.
Conclusion
Altho inefficient, the proposed moving averages remain extremely interesting. They make use of the PReLU function as weighting function and allow the user to have a more accurate control over the characteristics of the moving averages output such as lag and overshoot amount, such parameters could even be made adaptive.
We have also seen how to estimate the least squares moving average, we have seen that the lsma posses 33.333...% of negative weights in its weighting function, another useful information.
The lsma is always behind me, not letting me focus on cryptobot super profit indicators using massive amount of labels, its like each time i make an indicator, the lsma come back, like a jealous creature, she want the center of attention, but you know well that the proposed indicator is inefficient ! Inefficient elegance (effect of the meds) .
Thanks for reading !
ATR Move Tracker v1.0# ATR Move Tracker v1.0 - Purpose & Use Guide
## What Is This Indicator?
ATR Move Tracker v1.0 is a trading tool that shows you whether a stock has moved "enough" for the day based on its historical patterns. It answers the question: **"Has this stock moved its typical daily amount yet?"**
## The Core Purpose
Think of each stock as having a "daily personality" - some stocks naturally move $1 per day, others move $5 per day. This indicator:
- **Shows the stock's Daily ATR** (its typical daily movement over 14 days)
- **Tracks Today's Range** (how much it's actually moved today)
- **Displays the gap** between typical and actual movement
- **Provides visual progress** toward completing its normal daily range
## Practical Trading Applications
### **Entry Timing**
- **Low Progress (0-30%)**: Stock hasn't moved much yet - potential opportunity if you expect movement
- **Medium Progress (30-70%)**: Stock is moving normally - good for trend following
- **High Progress (70-100%+**: Stock has moved a lot - be cautious of exhaustion
### **Exit Planning**
- When the progress bar turns **green (100%+)**, the stock has exceeded its typical daily movement
- Consider taking profits or tightening stops when Daily ATR is reached or exceeded
- Use remaining "Need" amount to set realistic profit targets
### **Risk Management**
- **Today's Range much smaller than Daily ATR**: Potential for more volatility
- **Today's Range exceeds Daily ATR**: Stock may be overextended for the day
- Adjust position sizes based on how much of the Daily ATR has been "used up"
## Real-World Example
**Stock XYZ at 2:00 PM shows:**
- Daily ATR: $4.00 (typically moves $4/day)
- Daily Move: $2.50 (62%)
- Need: $1.50
- Progress Bar: 62% filled (orange)
**Interpretation:** XYZ has moved $2.50 of its typical $4.00 daily range. There's potentially $1.50 more movement available based on historical patterns.
## Key Benefits
✅ **Context for Price Movement**: Know if today's action is normal or unusual
✅ **Better Position Sizing**: Trade smaller when Daily ATR is nearly reached
✅ **Realistic Profit Targets**: Base targets on remaining Daily ATR potential
✅ **Works on All Timeframes**: See daily context even on 1-minute charts
✅ **Fully Customizable**: Position, colors, and ATR period adjustable
## Who Should Use This
- **Day Traders**: Perfect for intraday volatility context
- **Swing Traders**: Helps time entries based on daily movement patterns
- **Options Traders**: Understand if implied volatility expectations are being met
- **Any Trader**: Who wants to trade with historical volatility context
This isn't a buy/sell signal - it's **volatility intelligence** that helps you make better trading decisions based on what's normal for each stock!
Heikin FlowHeikin Flow
by Ben Deharde, 2025
Overview
Heikin Flow is a trend and momentum oscillator built on a smoothed reverse-Heikin-Ashi baseline. It quantifies the distance between price and this baseline, then colors the histogram to reflect both direction and acceleration/deceleration. Use it standalone to read trend energy and shifts, or pair it with Heikin Rider for momentum-aware breakout confirmation.
What It Does
Computes a reverse-HA baseline and optionally smooths it with a selectable MA.
Plots a histogram of distance (price minus baseline) to visualize directional pressure.
Colors the histogram by trend state (above/below baseline) and momentum (accelerating vs. decelerating).
Provides alerts on zero-line crosses to spotlight potential momentum regime changes.
The histogram also helps to spot divergence between price and momentum (e.g., price making new highs while the histogram weakens).
How It Works
Reverse-HA Baseline
Heikin Flow derives a “reverse close” value from Heikin Ashi context (using prior HA open/close with current bar range) to capture underlying pressure. This value is range-bounded to avoid extremes, then optionally smoothed. The resulting line acts as a soft directional baseline.
Smoothing (Noise Control)
Choose SMA/EMA/HMA/VWMA/RMA and a length to control baseline responsiveness. Shorter lengths react faster, longer lengths emphasize trend consistency by filtering noise—useful when pairing with breakout tools like Rider.
Trend & Momentum Logic
Trend: If price is above the baseline, the environment is considered uptrend; below indicates downtrend.
Momentum: The change in distance bar-to-bar distinguishes acceleration (growing distance) from deceleration (shrinking distance).
This dual readout helps you see not just direction, but the quality of that direction—strong push vs. weakening move.
Coloring (Aligned with Heikin Rider Palette)
Deep Blue: Uptrend & accelerating
Light Blue: Uptrend & decelerating
Deep Red: Downtrend & accelerating
Soft Orange: Downtrend & decelerating
This mirrors the palette logic from Heikin Rider for immediate visual consistency across the suite.
How to use
Read the histogram above/below zero (price–baseline) as directional bias; watch color changes for momentum context.
Use zero-line crosses as momentum regime shifts; confirm with price action or Heikin Rider breakout signals.
Watch for divergence between price action and the histogram as an early clue of weakening moves.
Adjust smoothing method/length to fit your market and timeframe—faster for scalping, slower to highlight sustained trends.
Inputs
Smoothing Type & Length for the baseline (SMA/EMA/HMA/VWMA/RMA)
Info Box toggles (display and formatting)
Live Mode option for real-time vs. confirmed-bar behavior (avoids inadvertent lookahead)
Originality
Heikin Flow adapts the HA-driven methodology to an oscillator that focuses on distance-to-baseline and momentum quality, using a reverse-HA construction and flexible MA smoothing—complementing Heikin Rider’s smoothed HA envelope breakout design for a cohesive, momentum-aware workflow.
Alerts
Bullish Heikin Flow Cross — distance crosses above 0 (on bar close)
Bearish Heikin Flow Cross — distance crosses below 0 (on bar close)
PriceActionLibrary "PriceAction"
Hi all!
This library will help you to plot the market structure and liquidity. By now, the only part in the price action section is liquidity, but I plan to add more later on. The market structure will be split into two parts, 'Internal' and 'Swing' with separate pivot lengths. For these two trends it will show you:
• Break of structure (BOS)
• Change of character (CHoCH/CHoCH+) (mandatory)
• Equal high/low (EQH/EQL)
It's inspired by "Smart Money Concepts (SMC) " by LuxAlgo.
This library is now the same code as the code in my library 'MarketStructure', but it has evolved into a more price action oriented library than just a market structure library. This is more accurate and I will continue working on this library to keep it growing.
This code does not provide any examples, but you can look at my indicators 'Market structure' () and 'Order blocks' (), where I use the 'MarketStructure' library (which is the same code).
Market structure
Both of these market structures can be enabled/disabled by setting them to 'na'. The pivots lengths can be configured separately. The pivots found will be the 'base' of and will show you when price breaks it. When that happens a break of structure or a change of character will be created. The latest 5 pivots found within the current trends will be kept to take action on. They are cleared on a change of character, so nothing (break of structures or change of characters) can happen on pivots before a trend change. The internal market structure is shown with dashed lines and swing market structure is shown with solid lines.
Labels for a change of character can have either the text 'CHoCH' or 'CHoCH+'. A Change of Character plus is formed when price fails to form a higher high or a lower low before reversing. Note that a pivot that is created after the change of character might have a higher high or a lower low, thus not making the break a 'CHoCH+'. This is not changed after the pivot is found but is kept as is.
A break of structure is removed if an earlier pivot within the same trend is broken, i.e. another break of structure (with a longer distance) is created. Like in the images below, the first pivot (in the first image) is removed when an earlier pivot's higher price within the same trend is broken (the second image):
[image [https://www.tradingview.com/x/PRP6YtPA/
Equal high/lows have a configurable color setting and can be configured to be extended to the right. Equal high/lows are only possible if it's not been broken by price. A factor (percentage of width) of the Average True Length (of length 14) that the pivot must be within to to be considered an Equal high/low. Equal highs/lows can be of 2 pivots or more.
You are able to show the pivots that are used. "HH" (higher high), "HL" (higher low), "LH" (lower high), "LL" (lower low) and "H"/"L" (for pivots (high/low) when the trend has changed) are the labels used. There are also labels for break of structures ('BOS') and change of characters ('CHoCH' or 'CHoCH+'). The size of these texts is set in the 'FontSize' setting.
When programming I focused on simplicity and ease of read. I did not focus on performance, I will do so if it's a problem (haven't noticed it is one yet).
You can set alerts for when a change of character, break of structure or an equal high/low (new or an addition to a previously found) happens. The alerts that are fired are on 'once_per_bar_close' to avoid repainting. This has the drawback to alert you when the bar closes.
Price action
The indicator will create lines and zones for spotted liquidity. It will draw a line (with dotted style) at the price level that was liquidated, but it will also draw a zone from that level to the bar that broke the pivot high or low price. If that zone is large the liquidation is big and might be significant. This can be disabled in the settings. You can also change the confirmation candles (that does not close above or below the pivot level) needed after a liquidation and how many pivots back to look at.
The lines and boxes drawn will look like this if the color is orange:
Hope this is of help!
Will draw out the market structure for the disired pivot length.
Liqudity(liquidity)
Will draw liquidity.
Parameters:
liquidity (Liquidity) : The 'PriceAction.Liquidity' object.
Pivot(structure)
Sets the pivots in the structure.
Parameters:
structure (Structure)
PivotLabels(structure)
Draws labels for the pivots found.
Parameters:
structure (Structure)
EqualHighOrLow(structure)
Draws the boxes for equal highs/lows. Also creates labels for the pivots included.
Parameters:
structure (Structure)
BreakOfStructure(structure)
Will create lines when a break of strycture occures.
Parameters:
structure (Structure)
Returns: A boolean that represents if a break of structure was found or not.
ChangeOfCharacter(structure)
Will create lines when a change of character occures. This line will have a label with "CHoCH" or "CHoCH+".
Parameters:
structure (Structure)
Returns: A boolean that represents if a change of character was found or not.
VisualizeCurrent(structure)
Will create a box with a background for between the latest high and low pivots. This can be used as the current trading range (if the pivots broke strucure somehow).
Parameters:
structure (Structure)
StructureBreak
Holds drawings for a structure break.
Fields:
Line (series line) : The line object.
Label (series label) : The label object.
Pivot
Holds all the values for a found pivot.
Fields:
Price (series float) : The price of the pivot.
BarIndex (series int) : The bar_index where the pivot occured.
Type (series int) : The type of the pivot (-1 = low, 1 = high).
Time (series int) : The time where the pivot occured.
BreakOfStructureBroken (series bool) : Sets to true if a break of structure has happened.
LiquidityBroken (series bool) : Sets to true if a liquidity of the price level has happened.
ChangeOfCharacterBroken (series bool) : Sets to true if a change of character has happened.
Structure
Holds all the values for the market structure.
Fields:
LeftLength (series int) : Define the left length of the pivots used.
RightLength (series int) : Define the right length of the pivots used.
Type (series Type) : Set the type of the market structure. Two types can be used, 'internal' and 'swing' (0 = internal, 1 = swing).
Trend (series int) : This will be set internally and can be -1 = downtrend, 1 = uptrend.
EqualPivotsFactor (series float) : Set how the limits are for an equal pivot. This is a factor of the Average True Length (ATR) of length 14. If a low pivot is considered to be equal if it doesn't break the low pivot (is at a lower value) and is inside the previous low pivot + this limit.
ExtendEqualPivotsZones (series bool) : Set to true if you want the equal pivots zones to be extended.
ExtendEqualPivotsStyle (series string) : Set the style of equal pivot zones.
ExtendEqualPivotsColor (series color) : Set the color of equal pivot zones.
EqualHighs (array) : Holds the boxes for zones that contains equal highs.
EqualLows (array) : Holds the boxes for zones that contains equal lows.
BreakOfStructures (array) : Holds all the break of structures within the trend (before a change of character).
Pivots (array) : All the pivots in the current trend, added with the latest first, this is cleared when the trend changes.
FontSize (series int) : Holds the size of the font displayed.
AlertChangeOfCharacter (series bool) : Holds true or false if a change of character should be alerted or not.
AlertBreakOfStructure (series bool) : Holds true or false if a break of structure should be alerted or not.
AlerEqualPivots (series bool) : Holds true or false if equal highs/lows should be alerted or not.
Liquidity
Holds all the values for liquidity.
Fields:
LiquidityPivotsHigh (array) : All high pivots for liquidity.
LiquidityPivotsLow (array) : All low pivots for liquidity.
LiquidityConfirmationBars (series int) : The number of bars to confirm that a liquidity is valid.
LiquidityPivotsLookback (series int) : A number of pivots to look back for.
FontSize (series int) : Holds the size of the font displayed.
PriceAction
Holds all the values for the general price action and the market structures.
Fields:
Liquidity (Liquidity)
Swing (Structure) : Placeholder for all objects used for the swing market structure.
Internal (Structure) : Placeholder for all objects used for the internal market structure.
TZtraderTZtrader
This is a TrendZones version with features to set stoploss and targets in short and long positions meant for use in intraday charts. It aims to provide signals for opening and closing long and short positions. In the comments under the TrendZones publication several people expressed a need for features for a short position similar to those for a long position as implemented in TrendZones, some want to use it for scalping, some asked for alerts. When I proposed to create a version for day trading with target lines based on ATR, several people liked the idea.
Full disclosure: I don’t do day trading, because, after I lost a lot of money, I had to promise my wife to stay away from it. I restrict myself to long term investing in stocks which are in uptrend. However I understand what a day trader needs. I gather from my experience that day trading or scalping is an attempt to earn something by opening a position in the morning and close, reopen and close it again during the day with a profit. It is usually done with leveraged instruments like CFD’s, futures, options, and what have you. Opening and closing positions is done within minutes, so the trader needs a quick and efficient way to set proper stoploss and target. TZtrader supports this by showing only three or four numbers on the price bar: The price of the instrument, The logical stop level (gray or green or maroon dots), and the target level (navy). All other numbers are suppressed to prevent mistakes. Also a clear feedback for current settings at the top-center of the pane and an alert feedback at bottom that flashes alerts during the development of the current bar and gives suppression status.
The script
First I made a bare bones version of TrendZones to which I added code for long and short trading setups and a bare setup for no position. The code for the logical stops in long setup had to be reviewed, after which this became the basis for stops in short setup.
Then I added code for 10 alert messages, which was a hassle, because this is the first time I coded alerts and the first time I used an array as a stack to avoid a complicated if-then construction. During testing the array caused a runtime error which I solved by adding ‘array.clear’ to the code, also I discovered that in TradingView separate alerts have to be created for all three setups - short, long and bare. Flipping setups is done in the inputs with a dropdown menu because Pine Script has no function for a clickable button.
One visual with three setups.
The visual has the TrendZones structure: Three near parallel very smooth curves, which border the moderate uptrend (green) and downtrend (orange) zone over and under the curve in the middle, the COG (Center Of Gravity). Where the price breaks out of these curves, strong trend zones show up over and under the curves, respectively strong uptrend (blue) and strong downtrend (red).
Three setups were made clearly different to avoid confusion and to provide oversight in case of multiple trades going on simultaneously which I imagine are monitored in one screen. You have to see which one is long, which short and which have no position. The long setup should not trigger short signals, nor should the short trigger long signals nor the bare setup exclusive long or short signals.
The Long setup is default, shown on the example chart. In this setup the Stoploss suggestions (green, gray and maroon dots) are under the price bars and the target line (navy) at a set distance above the High Border. A zone with a width of 1 ATR is drawn under the Low Border. In this setup 5 specific alerts are provided
The Short setup has the Stoploss suggestions over the price bars, the target line at a set distance under the Low Border. A zone with a width of 1 ATR is drawn above the High Border. This setup also has 5 specific alerts.
The Bare setup has no Stoploss suggestions, no target line and supports 4 alerts, 2 in common with the Long setup and 2 with Short.
The table below gives a summary of scripted alerts:
Setup = Where = When = Purpose
Long, Bare = Green Zone = Bars come from lower zones = Uptrend starts
Long, Bare = Green Zone = Sideways ends in uptrend = Uptrend resumes
Long = COG = First crossing = Uptrend might end warning
Long = Orange Zone = Bars come from higher zones = Uptrend ended take care
Long = Red Zone = Bars come from higher zones = Strong downtrend->close Long
Short, Bare = Orange Zone = Bars come from higher zones = Downtrend starts
Short, Bare = Orange Zone = Sideways ends in downtrend = Downtrend resumes
Short = COG = First crossing = Downtrend might end warning
Short = Green Zone = Bars come from lower zones = Downtrend ended take care
Short = Blue Zone = Bars come from lower zones = Strong uptrend -> close short
You can use script alerts in TradingView by clicking the clock in the sidebar, then ‘create alert’ or plus, as condition you choose ‘Tztrader’ in the dialog box, then the “Any alert() function call” option (the first item in the list). The script lets the valid alert trigger by TradingView after the bar is completed, this can differ from the flashed messages during its formation.
When you create alerts in Tradingview, I advice to do that for each setup, then to make only the alert active which matches the current setup, pause the other ones.
Suppressing false and annoying signals
The script has two ways to suppress such signals, which have to do with the numbers in the alert feedback. The numbers left and right of the message with a colored background, depict the zones in which the previous (left) and current (right) bar move. 1 is the strong downtrend zone (red), 2 the moderate downtrend zone (orange), 3 the sideways zones (gray), 4 the COG (gray), 5 the moderate uptrend zone (green), 6 the strong uptrend zone (blue), 7 something went wrong with assigning a zone (black). In extensive testing the number 7 never occurs, because I catch that error in the code. The idea is that an alert is only triggered if the previous bar was in a different zone. When the bars are in the same zone, no alert is possible. This way all annoying signals are suppressed and long, short and bare get the appropriate alerts.
The third number is a counter. It counts how often the COG is crossed without touching the outer curves. The counter will reset to zero when the upper or lower curve is touched. When the count is 1 you have zone situation 4 and appropriate alerts are flashed. When the count is 2 or higher, a sideways situation (3) is called and while the recrossings are going on, no alerts can be flashed. This suppresses false signals. The ATR zone and curves are brownish-gray where sideways happens(ed). When the channel is narrowed down to just the three curves, some false signals still might occur.
Inputs
“Setup”, default is long, drop down menu provides long, short and bare.
“Target ATR”, default is 2, sets the amount of ATR for the target line. In 1 minute charts 4 seems an appropriate setting, you have to learn by experience which setting works.
“show feedback …” default is on, This creates two feedback labels, a Setup feedback on top of the pane, which shows charted instrument, Setup type, Trend and timeframe of the chart. Background color of Trend feedback is green when it matches the setup, red when mismatches and gray when no match. The alert feedback at the bottom of the pane shows a number, a message and two numbers. The numbers will be explained in the chapter about false and annoying signals below. During formation of the bar, valid alerts are flashed with a blue background, otherwise the message ‘alerts for current bar suppressed’.
Logical Stops
The curves are the logical place to put stops, because, as these are averages of the high and low border of a Donchian channel, they signify the ‘natural’ current highest, lowest and main level in the lookback period that fit the monitored trend setup. A downtrend turns into an uptrend when a breakout of the upper curve occurs. If you are short, that is where you want to close position, so the logical place for the stoploss is the upper curve. Vice versa, when you are long, the logical stop is on the lower curve. The stops show up as green or gray dots on the curves, the green dots signify a nice entry level, the gray stops are there to suggest levels where unrealized profits might be secured, the maroon dots indicate that the trend mismatches the setup.
COG versus other lines
Any line used to identify a trend, be it some MA or some other line, is interpreted the same way: When the bars move above the line there is an uptrend and when below, a downtrend. COG is not different in that sense. If you put such a line in the same chart as TZtrader, you can see situations in which the other line shows uptrend or downtrend earlier than COG, also some other lines, e.g. Hull MA, are very good at showing tops and bottoms, while COG ignores these. On the other hand the other lines are usually a little nervous and let you shake out of position too soon. Just like the other lines, COG gives false signals when it is near horizontal. The advantage of the placement COG is the tolerance for pull backs. This way TZtrader keeps you longer in the trend. Such pull backs are often ‘flags’ which are interpreted in TA as confirming the trend. Tztrader aims to get you in position reasonably soon when a trend begins and out of position as soon as the trend turns against you. The placement of COG is done with a fundamentally different algorithm than other lines as it is not an average of prices, but the middle of two averages of borders of a Donchian channel. This gives the two zones between the curves the same quality as the two zones above and below the middle line of a standard Donchian Channel.
A multi timeframe application.
In this scenario you put a 5 minutes and 1 minute chart with Tztrader side by side. If the 5 minutes shows uptrend, set the 1 minute on long trading and open positions when the trend matches uptrend en close when it mismatches. Don’t open short positions. Once the 5 minute changes to downtrend, set Tztrader in the 1 minute to short trading and open positions when the trend matches downtrend and close when it mismatches.
The idea is that in a long ‘context’, provided by the 5 minutes, the uptrends in the 1 minute will last longer and go further, vice versa for the short ‘context’. This way you do swing trading in the 5 minute in a smart way, maximizing profits.
You can do this with any timeframe pairs with a proportion of around 5:1, 4:1, 6:1, like e.g. 60 minutes and 15 minutes or weeks and days (5 trading days in a week).
Dear day-traders, may this tool be helpful and may your days be blessed.
Take care
Advanced Range Theory - ART📊 Advanced Range Theory (ART): The Institutional Blueprint
Stop drawing lines. Start reading the blueprint of the market. Advanced Range Theory (ART) is not another support and resistance indicator; it is a military-grade market structure engine designed to decode the language of institutional capital. It operates on a single, powerful premise: markets move in phases of consolidation and expansion, and the key to anticipation lies in understanding the complete lifecycle of these phases.
ART provides a living, breathing map of the battlefield, identifying institutional accumulation zones and tracking them with unparalleled precision from their inception as "Pending" ranges to their ultimate classification after a breakout. This is your X-ray into the market's skeletal structure.
🔬 THEORETICAL FRAMEWORK: THE ARCHITECTURE OF PRICE ACTION
ART is built on a multi-layered system of logic that moves beyond static levels. It treats ranges as dynamic entities with a narrative—a beginning, a middle, and an end. The core of the system is the dynamic classification engine, which analyzes not just the range, but the character of the price action that resolves it.
1. The Range Lifecycle: From Accumulation to Classification
This is the revolutionary heart of ART. A range's true identity is only revealed by how it is broken.
Phase 1: PENDING (Yellow): A new range is identified based on a period of price consolidation (a "parent" candle followed by a minimum number of "inside" candles). At this stage, it is a neutral zone of potential energy—an area where institutions are likely building positions. It is a question the market has not yet answered.
Phase 2: MITIGATION & CLASSIFICATION: When price breaks out and reaches a calculated extension level, the range is considered "mitigated." At this exact moment, ART analyzes the breakout's DNA to classify the range's true intent:
TYPE 1 - BREAKOUT (Blue): Characterized by a strong, impulsive move with confirming volume. This is a high-conviction breakout, signaling aggressive institutional participation and the likely start of a new trend. It is a statement of intent.
TYPE 2 - REVERSAL (Orange): Occurs when price attempts to break one way but is aggressively rejected, reversing and breaking out the other side. This signals absorption and a "failed auction," often marking significant market turning points.
TYPE 3 - PIVOT (Green): A more balanced breakout, lacking the explosive momentum of a Type 1. This often represents a resolution after a period of indecision or a pivot within a larger trading range.
2. The Hierarchical Map: Source & S/R Levels
ART doesn't just draw boxes; it builds a genealogical map of market structure.
SOURCE LEVEL (Thick Gold Line): This is the "genesis" point—the most recently mitigated range. It acts as the primary point of origin for the current market swing and serves as a critical level for determining overall bias. Price action above the Source is generally bullish; below is bearish.
S/R LEVELS (Cyan Lines): When a range is mitigated, the price level where it broke becomes a key Support/Resistance zone for the future. ART tracks the two most recent S/R levels, as these often act as powerful magnets or rejection points for price.
3. The Multi-Factor Validation Engine
To eliminate noise and focus only on institutionally significant ranges, every potential range must pass a rigorous quality control check:
Time-Based Consolidation: Requires a minimum number of consecutive inside candles (minInsideCandles), ensuring a true period of balance.
Volatility-Based Significance: The range's size must be greater than a multiple of the Average True Range (minRangeSize), filtering out insignificant micro-consolidations.
Participation Confirmation: The parent candle of the range is checked against average volume to ensure there was meaningful activity during its formation.
⚙️ THE COMMAND CONSOLE: CONFIGURING YOUR ART ENGINE
Every input is designed to give you granular control over the detection engine, allowing you to tune ART to any market or timeframe with precision. Each tooltip in the script provides a deep dive, but here is a summary of the core controls.
🎯 ART Detection Engine
Minimum Inside Candles: The soul of the detection algorithm. It defines the minimum number of bars that must be contained within a single "parent" candle to qualify as a range. Higher values (3-4) find major, significant consolidation zones. Lower values (1-2) are more sensitive and will identify shorter-term accumulation patterns.
Extension Multiplier & Fibonacci Extension: These control the profit target projections. The Extension Multiplier uses a simple measured move (e.g., 1.0 = a 1:1 projection of the range's height). The Fibonacci Extension uses the golden ratio (1.618) for harmonically-derived targets.
Mitigation Method (Cross vs. Close): Determines how a breakout is confirmed. Cross is more responsive, triggering as soon as price touches the extension. Close is more conservative, requiring a full candle to close beyond the level, which helps filter out fake-outs from wicks.
Min Range Size (ATR): A crucial noise filter. It ensures that ART ignores tiny, insignificant ranges by requiring a range's height to be a certain multiple of the current market volatility (ATR).
📊 Display & Visual Configuration
These settings give you full control over the visual interface. You can toggle every single element—from the Webb Scanner to the S/R Levels—to create a clean or a comprehensive view. Choose a color theme that suits your charting environment or define a fully custom palette.
🕸️ Webb Analysis Scanner
This is a unique real-time flow analysis tool. It draws dynamic, animated lines from the current price to recent historical points. This visualization helps reveal hidden "tendrils" of momentum and short-term support/resistance that are not immediately obvious, acting as a "sonar" for immediate price flow.
📊 THE ANALYTICS HUB: YOUR DASHBOARD DECODED
The dashboard provides a real-time, at-a-glance intelligence briefing on the current state of market structure as seen by the ART engine.
RANGE METRICS: This section is a "census" of the market's structure. It tells you the total number of ranges identified, how many are still Pending (awaiting a breakout), how many are Unmitigated (active but not yet broken), and how many have been Mitigated (classified and complete).
TYPE BREAKDOWN: This is a powerful gauge of market character. A high count of Type 1 (Breakout) ranges suggests a strong, trending environment. A rising number of Type 2 (Reversal) ranges can signal market exhaustion and potential trend changes. A dominant Type 3 (Pivot) count indicates a balanced, rotational market.
KEY GUIDE: The Large dashboard includes a full legend, so you never have to guess what a line or color represents. It's your built-in user manual.
🎨 DECODING THE BLUEPRINT: A VISUAL INTERPRETATION GUIDE
Every line and color in ART is designed for instant, intuitive understanding.
The Range Lines:
Yellow Lines: A Pending range. This is an active zone of accumulation. Pay close attention.
Colored Lines (Blue/Orange/Green): An unmitigated, classified range. The color tells you its breakout character.
Dotted Lines: A Mitigated range. Its story has been told. These historical levels can still act as support or resistance.
The Identification Zones: These colored boxes appear at a range's origin point after it has been classified. They are the "birth certificate" of the range, permanently marking its type (Breakout, Reversal, or Pivot) and providing an immediate visual history of market behavior.
The Hierarchical Lines:
Thick Gold Line (Source): The most important line on your chart. It is the anchor for your bias.
Cyan Lines (S/R): High-probability decision points. Expect reactions here.
Purple Dotted Lines (Extensions): Logical, calculated profit targets for breaking ranges.
🔧 THE ARCHITECT'S VISION: THE DEVELOPMENT JOURNEY
ART was born from a deep frustration with the static and subjective nature of traditional market structure analysis. Drawing lines by hand is inconsistent, and most indicators are reactive, only confirming what has already happened. The goal was to create a proactive, objective, and dynamic framework that could think about the market in terms of phases and lifecycles.
The breakthrough came from a simple shift in perspective: a range's true character isn't defined when it forms, but by how it resolves. This led to the development of the "post-breakout classification engine," which waits for the market to show its hand before assigning a definitive type. The Webb Scanner was inspired by the desire to visualize the unseen, to create a tool that could feel the immediate "pull" and "push" of price flow. The result is not just an indicator; it is a new language for interpreting price action, built on a foundation of logic, clarity, and precision.
⚠️ RISK DISCLAIMER & BEST PRACTICES
Advanced Range Theory is a professional-grade analytical tool designed to enhance a trader's decision-making process. It does not provide direct buy or sell signals. The levels and classifications it generates are based on historical price action and mathematical probabilities. All trading involves substantial risk, and past performance is not indicative of future results. Always use this tool in conjunction with a robust risk management plan.
"I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times."
— Dskyz, Trade with insight. Trade with anticipation.
— Bruce Lee
RSI PotentialRSI Potential
This indicator does more than just track RSI; it measures the "energy" or "fuel" left in a trend. It answers a critical question: how much further can the price move before momentum is exhausted?
The key insight is that high momentum often means low potential, and vice versa. This inverse relationship is what allows the indicator to provide powerful, forward-looking signals about trend health and potential reversals.
Think of it like a race car:
Momentum is the car's current speed.
Potential is the amount of fuel left in the tank.
A car at top speed (high momentum) is burning fuel rapidly (potential is decreasing). A car just starting (low momentum) has a full tank of fuel (high potential). This indicator helps you see the fuel gauge, not just the speedometer.
This indicator plots three distinct components in a separate pane below your chart:
1. Upside Potential (Green Line)
What it shows: The percentage price increase required to hit the Overbought RSI Level. In other words, how much "fuel" is left for the upward trend.
How to interpret it:
Low Value (Approaching Zero): This is a warning sign. It means the price is already in high gear, and there is very little room left to run before hitting overbought exhaustion. Even if the price is rocketing up (high momentum), low potential signals the rally is likely on its last legs.
High Value: This indicates the market has a full tank of fuel for a rally. Even if the price is moving sideways or slowly (low momentum), the high potential suggests that if a new uptrend starts, it has the energy to be sustainable and significant.
2. Downside Potential (Red Line)
What it shows: The percentage price decrease required to hit the Oversold RSI Level—the "fuel" for a downtrend.
How to interpret it:
Low Value (Approaching Zero): A warning for bears. The price may be dropping fast (high momentum), but it's running out of energy to fall further. This signals seller exhaustion and increases the probability of a bounce or reversal.
High Value: The market has significant room to fall before becoming oversold. This can confirm the health of a new downtrend or suggest that a current downtrend has more to go.
3. Net Potential (Columns / Histogram)
What it shows: The net balance of energy: Upside Potential - Downside Potential. It answers, "Which side has more fuel in the tank?"
FVG Premium [no1x]█ OVERVIEW
This indicator provides a comprehensive toolkit for identifying, visualizing, and tracking Fair Value Gaps (FVGs) across three distinct timeframes (current chart, a user-defined Medium Timeframe - MTF, and a user-defined High Timeframe - HTF). It is designed to offer traders enhanced insight into FVG dynamics through detailed state monitoring (formation, partial fill, full mitigation, midline touch), extensive visual customization for FVG representation, and a rich alert system for timely notifications on FVG-related events.
█ CONCEPTS
This indicator is built upon the core concept of Fair Value Gaps (FVGs) and their significance in price action analysis, offering a multi-layered approach to their detection and interpretation across different timeframes.
Fair Value Gaps (FVGs)
A Fair Value Gap (FVG), also known as an imbalance, represents a range in price delivery where one side of the market (buying or selling) was more aggressive, leaving an inefficiency or an "imbalance" in the price action. This concept is prominently featured within Smart Money Concepts (SMC) and Inner Circle Trader (ICT) methodologies, where such gaps are often interpreted as footprints left by "smart money" due to rapid, forceful price movements. These methodologies suggest that price may later revisit these FVG zones to rebalance a prior inefficiency or to seek liquidity before continuing its path. These gaps are typically identified by a three-bar pattern:
Bullish FVG : This is a three-candle formation where the second candle shows a strong upward move. The FVG is the space created between the high of the first candle (bottom of FVG) and the low of the third candle (top of FVG). This indicates a strong upward impulsive move.
Bearish FVG : This is a three-candle formation where the second candle shows a strong downward move. The FVG is the space created between the low of the first candle (top of FVG) and the high of the third candle (bottom of FVG). This indicates a strong downward impulsive move.
FVGs are often watched by traders as potential areas where price might return to "rebalance" or find support/resistance.
Multi-Timeframe (MTF) Analysis
The indicator extends FVG detection beyond the current chart's timeframe (Low Timeframe - LTF) to two higher user-defined timeframes: Medium Timeframe (MTF) and High Timeframe (HTF). This allows traders to:
Identify FVGs that might be significant on a broader market structure.
Observe how FVGs from different timeframes align or interact.
Gain a more comprehensive perspective on potential support and resistance zones.
FVG State and Lifecycle Management
The indicator actively tracks the lifecycle of each detected FVG:
Formation : The initial identification of an FVG.
Partial Fill (Entry) : When price enters but does not completely pass through the FVG. The indicator updates the "current" top/bottom of the FVG to reflect the filled portion.
Midline (Equilibrium) Touch : When price touches the 50% level of the FVG.
Full Mitigation : When price completely trades through the FVG, effectively "filling" or "rebalancing" the gap. The indicator records the mitigation time.
This state tracking is crucial for understanding how price interacts with these zones.
FVG Classification (Large FVG)
FVGs can be optionally classified as "Large FVGs" (LV) if their size (top to bottom range) exceeds a user-defined multiple of the Average True Range (ATR) for that FVG's timeframe. This helps distinguish FVGs that are significantly larger relative to recent volatility.
Visual Customization and Information Delivery
A key concept is providing extensive control over how FVGs are displayed. This control is achieved through a centralized set of visual parameters within the indicator, allowing users to configure numerous aspects (colors, line styles, visibility of boxes, midlines, mitigation lines, labels, etc.) for each timeframe. Additionally, an on-chart information panel summarizes the nearest unmitigated bullish and bearish FVG levels for each active timeframe, providing a quick glance at key price points.
█ FEATURES
This indicator offers a rich set of features designed to provide a highly customizable and comprehensive Fair Value Gap (FVG) analysis experience. Users can tailor the FVG detection, visual representation, and alerting mechanisms across three distinct timeframes: the current chart (Low Timeframe - LTF), a user-defined Medium Timeframe (MTF), and a user-defined High Timeframe (HTF).
Multi-Timeframe FVG Detection and Display
The core strength of this indicator lies in its ability to identify and display FVGs from not only the current chart's timeframe (LTF) but also from two higher, user-selectable timeframes (MTF and HTF).
Timeframe Selection: Users can specify the exact MTF (e.g., "60", "240") and HTF (e.g., "D", "W") through dedicated inputs in the "MTF (Medium Timeframe)" and "HTF (High Timeframe)" settings groups. The visibility of FVGs from these higher timeframes can be toggled independently using the "Show MTF FVGs" and "Show HTF FVGs" checkboxes.
Consistent Detection Logic: The FVG detection logic, based on the classic three-bar imbalance pattern detailed in the 'Concepts' section, is applied consistently across all selected timeframes (LTF, MTF, HTF)
Timeframe-Specific Visuals: Each timeframe's FVGs (LTF, MTF, HTF) can be customized with unique colors for bullish/bearish states and their mitigated counterparts. This allows for easy visual differentiation of FVGs originating from different market perspectives.
Comprehensive FVG Visualization Options
The indicator provides extensive control over how FVGs are visually represented on the chart for each timeframe (LTF, MTF, HTF).
FVG Boxes:
Visibility: Main FVG boxes can be shown or hidden per timeframe using the "Show FVG Boxes" (for LTF), "Show Boxes" (for MTF/HTF) inputs.
Color Customization: Colors for bullish, bearish, active, and mitigated FVG boxes (including Large FVGs, if classified) are fully customizable for each timeframe.
Box Extension & Length: FVG boxes can either be extended to the right indefinitely ("Extend Boxes Right") or set to a fixed length in bars ("Short Box Length" or "Box Length" equivalent inputs).
Box Labels: Optional labels can display the FVG's timeframe and fill percentage on the box. These labels are configurable for all timeframes (LTF, MTF, and HTF). Please note: If FVGs are positioned very close to each other on the chart, their respective labels may overlap. This can potentially lead to visual clutter, and it is a known behavior in the current version of the indicator.
Box Borders: Visibility, width, style (solid, dashed, dotted), and color of FVG box borders are customizable per timeframe.
Midlines (Equilibrium/EQ):
Visibility: The 50% level (midline or EQ) of FVGs can be shown or hidden for each timeframe.
Style Customization: Width, style, and color of the midline are customizable per timeframe. The indicator tracks if this midline has been touched by price.
Mitigation Lines:
Visibility: Mitigation lines (representing the FVG's opening level that needs to be breached for full mitigation) can be shown or hidden for each timeframe. If shown, these lines are always extended to the right.
Style Customization: Width, style, and color of the mitigation line are customizable per timeframe.
Mitigation Line Labels: Optional price labels can be displayed on mitigation lines, with a customizable horizontal bar offset for positioning. For optimal label placement, the following horizontal bar offsets are recommended: 4 for LTF, 8 for MTF, and 12 for HTF.
Persistence After Mitigation: Users can choose to keep mitigation lines visible even after an FVG is fully mitigated, with a distinct color for such lines. Importantly, this option is only effective if the general setting 'Hide Fully Mitigated FVGs' is disabled, as otherwise, the entire FVG and its lines will be removed upon mitigation.
FVG State Management and Behavior
The indicator tracks and visually responds to changes in FVG states.
Hide Fully Mitigated FVGs: This option, typically found in the indicator's general settings, allows users to automatically remove all visual elements of an FVG from the chart once price has fully mitigated it. This helps maintain chart clarity by focusing on active FVGs.
Partial Fill Visualization: When price enters an FVG, the indicator offers a dynamic visual representation: the portion of the FVG that has been filled is shown as a "mitigated box" (typically with a distinct color), while the original FVG box shrinks to clearly highlight the remaining, unfilled portion. This two-part display provides an immediate visual cue about how much of the FVG's imbalance has been addressed and what potential remains within the gap.
Visual Filtering by ATR Proximity: To help users focus on the most relevant price action, FVGs can be dynamically hidden if they are located further from the current price than a user-defined multiple of the Average True Range (ATR). This behavior is controlled by the "Filter Band Width (ATR Multiple)" input; setting this to zero disables the filter entirely, ensuring all detected FVGs remain visible regardless of their proximity to price.
Alternative Usage Example: Mitigation Lines as Key Support/Resistance Levels
For traders preferring a minimalist chart focused on key Fair Value Gap (FVG) levels, the indicator's visualization settings can be customized to display only FVG mitigation lines. This approach leverages these lines as potential support and resistance zones, reflecting areas where price might revisit to address imbalances.
To configure this view:
Disable FVG Boxes: Turn off "Show FVG Boxes" (for LTF) or "Show Boxes" (for MTF/HTF) for the desired timeframes.
Hide Midlines: Disable the visibility of the 50% FVG Midlines (Equilibrium/EQ).
Ensure Mitigation Lines are Visible: Keep "Mitigation Lines" enabled.
Retain All Mitigation Lines:
Disable the "Hide Fully Mitigated FVGs" option in the general settings.
Enable the feature to "keep mitigation lines visible even after an FVG is fully mitigated". This ensures lines from all FVGs (active or fully mitigated) remain on the chart, which is only effective if "Hide Fully Mitigated FVGs" is disabled.
This setup offers:
A Decluttered Chart: Focuses solely on the FVG opening levels.
Precise S/R Zones: Treats mitigation lines as specific points for potential price reactions.
Historical Level Analysis: Includes lines from past, fully mitigated FVGs for a comprehensive view of significant price levels.
For enhanced usability with this focused view, consider these optional additions:
The on-chart Information Panel can be activated to display a quick summary of the nearest unmitigated FVG levels.
Mitigation Line Labels can also be activated for clear price level identification. A customizable horizontal bar offset is available for positioning these labels; for example, offsets of 4 for LTF, 8 for MTF, and 12 for HTF can be effective.
FVG Classification (Large FVG)
This feature allows for distinguishing FVGs based on their size relative to market volatility.
Enable Classification: Users can enable "Classify FVG (Large FVG)" to identify FVGs that are significantly larger than average.
ATR-Based Threshold: An FVG is classified as "Large" if its height (price range) is greater than or equal to the Average True Range (ATR) of its timeframe multiplied by a user-defined "Large FVG Threshold (ATR Multiple)". The ATR period for this calculation is also configurable.
Dedicated Colors: Large FVGs (both bullish/bearish and active/mitigated) can be assigned unique colors, making them easily distinguishable on the chart.
Panel Icon: Large FVGs are marked with a special icon in the Info Panel.
Information Panel
An on-chart panel provides a quick summary of the nearest unmitigated FVG levels.
Visibility and Position: The panel can be shown/hidden and positioned in any of the nine standard locations on the chart (e.g., Top Right, Middle Center).
Content: It displays the price levels of the nearest unmitigated bullish and bearish FVGs for LTF, MTF (if active), and HTF (if active). It also indicates if these nearest FVGs are Large FVGs (if classification is enabled) using a selectable icon.
Styling: Text size, border color, header background/text colors, default text color, and "N/A" cell background color are customizable.
Highlighting: Background and text colors for the cells displaying the overall nearest bullish and bearish FVG levels (across all active timeframes) can be customized to draw attention to the most proximate FVG.
Comprehensive Alert System
The indicator offers a granular alert system for various FVG-related events, configurable for each timeframe (LTF, MTF, HTF) independently. Users can enable alerts for:
New FVG Formation: Separate alerts for new bullish and new bearish FVG formations.
FVG Entry/Partial Fill: Separate alerts for price entering a bullish FVG or a bearish FVG.
FVG Full Mitigation: Separate alerts for full mitigation of bullish and bearish FVGs.
FVG Midline (EQ) Touch: Separate alerts for price touching the midline of a bullish or bearish FVG.
Alert messages are detailed, providing information such as the timeframe, FVG type (bull/bear, Large FVG), relevant price levels, and timestamps.
█ NOTES
This section provides additional information regarding the indicator's usage, performance considerations, and potential interactions with the TradingView platform. Understanding these points can help users optimize their experience and troubleshoot effectively.
Performance and Resource Management
Maximum FVGs to Track : The "Max FVGs to Track" input (defaulting to 25) limits the number of FVG objects processed for each category (e.g., LTF Bullish, MTF Bearish). Increasing this value significantly can impact performance due to more objects being iterated over and potentially drawn, especially when multiple timeframes are active.
Drawing Object Limits : To manage performance, this script sets its own internal limits on the number of drawing objects it displays. While it allows for up to approximately 500 lines (max_lines_count=500) and 500 labels (max_labels_count=500), the number of FVG boxes is deliberately restricted to a maximum of 150 (max_boxes_count=150). This specific limit for boxes is a key performance consideration: displaying too many boxes can significantly slow down the indicator, and a very high number is often not essential for analysis. Enabling all visual elements for many FVGs across all three timeframes can cause the indicator to reach these internal limits, especially the stricter box limit
Optimization Strategies : To help you manage performance, reduce visual clutter, and avoid exceeding drawing limits when using this indicator, I recommend the following strategies:
Maintain or Lower FVG Tracking Count: The "Max FVGs to Track" input defaults to 25. I find this value generally sufficient for effective analysis and balanced performance. You can keep this default or consider reducing it further if you experience performance issues or prefer a less dense FVG display.
Utilize Proximity Filtering: I suggest activating the "Filter Band Width (ATR Multiple)" option (found under "General Settings") to display only those FVGs closer to the current price. From my experience, a value of 5 for the ATR multiple often provides a good starting point for balanced performance, but you should feel free to adjust this based on market volatility and your specific trading needs.
Hide Fully Mitigated FVGs: I strongly recommend enabling the "Hide Fully Mitigated FVGs" option. This setting automatically removes all visual elements of an FVG from the chart once it has been fully mitigated by price. Doing so significantly reduces the number of active drawing objects, lessens computational load, and helps maintain chart clarity by focusing only on active, relevant FVGs.
Disable FVG Display for Unused Timeframes: If you are not actively monitoring certain higher timeframes (MTF or HTF) for FVG analysis, I advise disabling their display by unchecking "Show MTF FVGs" or "Show HTF FVGs" respectively. This can provide a significant performance boost.
Simplify Visual Elements: For active FVGs, consider hiding less critical visual elements if they are not essential for your specific analysis. This could include box labels, borders, or even entire FVG boxes if, for example, only the mitigation lines are of interest for a particular timeframe.
Settings Changes and Platform Limits : This indicator is comprehensive and involves numerous calculations and drawings. When multiple settings are changed rapidly in quick succession, it is possible, on occasion, for TradingView to issue a "Runtime error: modify_study_limit_exceeding" or similar. This can cause the indicator to temporarily stop updating or display errors.
Recommended Approach : When adjusting settings, it is advisable to wait a brief moment (a few seconds) after each significant change. This allows the indicator to reprocess and update on the chart before another change is made
Error Recovery : Should such a runtime error occur, making a minor, different adjustment in the settings (e.g., toggling a checkbox off and then on again) and waiting briefly will typically allow the indicator to recover and resume correct operation. This behavior is related to platform limitations when handling complex scripts with many inputs and drawing objects.
Multi-Timeframe (MTF/HTF) Data and Behavior
HTF FVG Confirmation is Essential: : For an FVG from a higher timeframe (MTF or HTF) to be identified and displayed on your current chart (LTF), the three-bar pattern forming the FVG on that higher timeframe must consist of fully closed bars. The indicator does not draw speculative FVGs based on incomplete/forming bars from higher timeframes.
Data Retrieval and LTF Processing: The indicator may use techniques like lookahead = barmerge.lookahead_on for timely data retrieval from higher timeframes. However, the actual detection of an FVG occurs after all its constituent bars on the HTF have closed.
Appearance Timing on LTF (1 LTF Candle Delay): As a natural consequence of this, an FVG that is confirmed on an HTF (i.e., its third bar closes) will typically become visible on your LTF chart one LTF bar after its confirmation on the HTF.
Example: Assume an FVG forms on a 30-minute chart at 15:30 (i.e., with the close of the 30-minute bar that covers the 15:00-15:30 period). If you are monitoring this FVG on a 15-minute chart, the indicator will detect this newly formed 30-minute FVG while processing the data for the 15-minute bar that starts at 15:30 and closes at 15:45. Therefore, the 30-minute FVG will become visible on your 15-minute chart at the earliest by 15:45 (i.e., with the close of that relevant 15-minute LTF candle). This means the HTF FVG is reflected on the LTF chart with a delay equivalent to one LTF candle.
FVG Detection and Display Logic
Fair Value Gaps (FVGs) on the current chart timeframe (LTF) are detected based on barstate.isconfirmed. This means the three-bar pattern must be complete with closed bars before an FVG is identified. This confirmation method prevents FVGs from being prematurely identified on the forming bar.
Alerts
Alert Setup : To receive alerts from this indicator, you must first ensure you have enabled the specific alert conditions you are interested in within the indicator's own settings (see 'Comprehensive Alert System' under the 'FEATURES' section). Once configured, open TradingView's 'Create Alert' dialog. In the 'Condition' tab, select this indicator's name, and crucially, choose the 'Any alert() function call' option from the dropdown list. This setup allows the indicator to trigger alerts based on the precise event conditions you have activated in its settings
Alert Frequency : Alerts are designed to trigger once per bar close (alert.freq_once_per_bar_close) for the specific event.
User Interface (UI) Tips
Settings Group Icons: In the indicator settings menu, timeframe-specific groups are marked with star icons for easier navigation: 🌟 for LTF (Current Chart Timeframe), 🌟🌟 for MTF (Medium Timeframe), and 🌟🌟🌟 for HTF (High Timeframe).
Dependent Inputs: Some input settings are dependent on others being enabled. These dependencies are visually indicated in the settings menu using symbols like "↳" (dependent setting on the next line), "⟷" (mutually exclusive inline options), or "➜" (directly dependent inline option).
Settings Layout Overview: The indicator settings are organized into logical groups for ease of use. Key global display controls – such as toggles for MTF FVGs, HTF FVGs (along with their respective timeframe selectors), and the Information Panel – are conveniently located at the very top within the '⚙️ General Settings' group. This placement allows for quick access to frequently adjusted settings. Other sections provide detailed customization options for each timeframe (LTF, MTF, HTF), specific FVG components, and alert configurations.
█ FOR Pine Script® CODERS
This section provides a high-level overview of the FVG Premium indicator's internal architecture, data flow, and the interaction between its various library components. It is intended for Pine Script™ programmers who wish to understand the indicator's design, potentially extend its functionality, or learn from its structure.
System Architecture and Modular Design
The indicator is architected moduarly, leveraging several custom libraries to separate concerns and enhance code organization and reusability. Each library has a distinct responsibility:
FvgTypes: Serves as the foundational data definition layer. It defines core User-Defined Types (UDTs) like fvgObject (for storing all attributes of an FVG) and drawSettings (for visual configurations), along with enumerations like tfType.
CommonUtils: Provides utility functions for common tasks like mapping user string inputs (e.g., "Dashed" for line style) to their corresponding Pine Script™ constants (e.g., line.style_dashed) and formatting timeframe strings for display.
FvgCalculations: Contains the core logic for FVG detection (both LTF and MTF/HTF via requestMultiTFBarData), FVG classification (Large FVGs based on ATR), and checking FVG interactions with price (mitigation, partial fill).
FvgObject: Implements an object-oriented approach by attaching methods to the fvgObject UDT. These methods manage the entire visual lifecycle of an FVG on the chart, including drawing, updating based on state changes (e.g., mitigation), and deleting drawing objects. It's responsible for applying the visual configurations defined in drawSettings.
FvgPanel: Manages the creation and dynamic updates of the on-chart information panel, which displays key FVG levels.
The main indicator script acts as the orchestrator, initializing these libraries, managing user inputs, processing data flow between libraries, and handling the main event loop (bar updates) for FVG state management and alerts.
Core Data Flow and FVG Lifecycle Management
The general data flow and FVG lifecycle can be summarized as follows:
Input Processing: User inputs from the "Settings" dialog are read by the main indicator script. Visual style inputs (colors, line styles, etc.) are consolidated into a types.drawSettings object (defined in FvgTypes). Other inputs (timeframes, filter settings, alert toggles) control the behavior of different modules. CommonUtils assists in mapping some string inputs to Pine constants.
FVG Detection:
For the current chart timeframe (LTF), FvgCalculations.detectFvg() identifies potential FVGs based on bar patterns.
For MTF/HTF, the main indicator script calls FvgCalculations.requestMultiTFBarData() to fetch necessary bar data from higher timeframes, then FvgCalculations.detectMultiTFFvg() identifies FVGs.
Newly detected FVGs are instantiated as types.fvgObject and stored in arrays within the main script. These objects also undergo classification (e.g., Large FVG) by FvgCalculations.
State Update & Interaction: On each bar, the main indicator script iterates through active FVG objects to manage their state based on price interaction:
Initially, the main script calls FvgCalculations.fvgInteractionCheck() to efficiently determine if the current bar's price might be interacting with a given FVG.
If a potential interaction is flagged, the main script then invokes methods directly on the fvgObject instance (e.g., updateMitigation(), updatePartialFill(), checkMidlineTouch(), which are part of FvgObject).
These fvgObject methods are responsible for the detailed condition checking and the actual modification of the FVG's state. For instance, the updateMitigation() and updatePartialFill() methods internally utilize specific helper functions from FvgCalculations (like checkMitigation() and checkPartialMitigation()) to confirm the precise nature of the interaction before updating the fvgObject’s state fields (such as isMitigated, currentTop, currentBottom, or isMidlineTouched).
Visual Rendering:
The FvgObject.updateDrawings() method is called for each fvgObject. This method is central to drawing management; it creates, updates, or deletes chart drawings (boxes, lines, labels) based on the FVG's current state, its prev_* (previous bar state) fields for optimization, and the visual settings passed via the drawSettings object.
Information Panel Update: The main indicator script determines the nearest FVG levels, populates a panelData object (defined in FvgPanelLib), and calls FvgPanel.updatePanel() to refresh the on-chart display.
Alert Generation: Based on the updated FVG states and user-enabled alert settings, the main indicator script constructs and triggers alerts using Pine Script's alert() function."
Key Design Considerations
UDT-Centric Design: The fvgObject UDT is pivotal, acting as a stateful container for all information related to a single FVG. Most operations revolve around creating, updating, or querying these objects.
State Management: To optimize drawing updates and manage FVG lifecycles, fvgObject instances store their previous bar's state (e.g., prevIsVisible, prevCurrentTop). The FvgObject.updateDrawings() method uses this to determine if a redraw is necessary, minimizing redundant drawing calls.
Settings Object: A drawSettings object is populated once (or when inputs change) and passed to drawing functions. This avoids repeatedly reading numerous input() values on every bar or within loops, improving performance.
Dynamic Arrays for FVG Storage: Arrays are used to store collections of fvgObject instances, allowing for dynamic management (adding new FVGs, iterating for updates).
FvgObject█ OVERVIEW
This library provides a suite of methods designed to manage the visual representation and lifecycle of Fair Value Gap (FVG) objects on a Pine Script™ chart. It extends the `fvgObject` User-Defined Type (UDT) by attaching object-oriented functionalities for drawing, updating, and deleting FVG-related graphical elements. The primary goal is to encapsulate complex drawing logic, making the main indicator script cleaner and more focused on FVG detection and state management.
█ CONCEPTS
This library is built around the idea of treating each Fair Value Gap as an "object" with its own visual lifecycle on the chart. This is achieved by defining methods that operate directly on instances of the `fvgObject` UDT.
Object-Oriented Approach for FVGs
Pine Script™ v6 introduced the ability to define methods for User-Defined Types (UDTs). This library leverages this feature by attaching specific drawing and state management functions (methods) directly to the `fvgObject` type. This means that instead of calling global functions with an FVG object as a parameter, you call methods *on* the FVG object itself (e.g., `myFvg.updateDrawings(...)`). This approach promotes better code organization and a more intuitive way to interact with FVG data.
FVG Visual Lifecycle Management
The core purpose of this library is to manage the complete visual journey of an FVG on the chart. This lifecycle includes:
Initial Drawing: Creating the first visual representation of a newly detected FVG, including its main box and optionally its midline and labels.
State Updates & Partial Fills: Modifying the FVG's appearance as it gets partially filled by price. This involves drawing a "mitigated" portion of the box and adjusting the `currentTop` or `currentBottom` of the remaining FVG.
Full Mitigation & Tested State: Handling how an FVG is displayed once fully mitigated. Depending on user settings, it might be hidden, or its box might change color/style to indicate it has been "tested." Mitigation lines can also be managed (kept or deleted).
Midline Interaction: Visually tracking if the price has touched the FVG's 50% equilibrium level (midline).
Visibility Control: Dynamically showing or hiding FVG drawings based on various criteria, such as user settings (e.g., hide mitigated FVGs, timeframe-specific visibility) or external filters (e.g., proximity to current price).
Deletion: Cleaning up all drawing objects associated with an FVG when it's no longer needed or when settings dictate its removal.
Centralized Drawing Logic
By encapsulating all drawing-related operations within the methods of this library, the main indicator script is significantly simplified. The main script can focus on detecting FVGs and managing their state (e.g., in arrays), while delegating the complex task of rendering and updating them on the chart to the methods herein.
Interaction with `fvgObject` and `drawSettings` UDTs
All methods within this library operate on an instance of the `fvgObject` UDT. This `fvgObject` holds not only the FVG's price/time data and state (like `isMitigated`, `currentTop`) but also the IDs of its associated drawing elements (e.g., `boxId`, `midLineId`).
The appearance of these drawings (colors, styles, visibility, etc.) is dictated by a `drawSettings` UDT instance, which is passed as a parameter to most drawing-related methods. This `drawSettings` object is typically populated from user inputs in the main script, allowing for extensive customization.
Stateful Drawing Object Management
The library's methods manage Pine Script™ drawing objects (boxes, lines, labels) by storing their IDs within the `fvgObject` itself (e.g., `fvgObject.boxId`, `fvgObject.mitigatedBoxId`, etc.). Methods like `draw()` create these objects and store their IDs, while methods like `updateDrawings()` modify them, and `deleteDrawings()` removes them using these stored IDs.
Drawing Optimization
The `updateDrawings()` method, which is the most comprehensive drawing management function, incorporates optimization logic. It uses `prev_*` fields within the `fvgObject` (e.g., `prevIsMitigated`, `prevCurrentTop`) to store the FVG's state from the previous bar. By comparing the current state with the previous state, and also considering changes in visibility or relevant drawing settings, it can avoid redundant and performance-intensive drawing operations if nothing visually significant has changed for that FVG.
█ METHOD USAGE AND WORKFLOW
The methods in this library are designed to be called in a logical sequence as an FVG progresses through its lifecycle. A crucial prerequisite for all visual methods in this library is a properly populated `drawSettings` UDT instance, which dictates every aspect of an FVG's appearance, from colors and styles to visibility and labels. This `settings` object must be carefully prepared in the main indicator script, typically based on user inputs, before being passed to these methods.
Here’s a typical workflow within a main indicator script:
1. FVG Instance Creation (External to this library)
An `fvgObject` instance is typically created by functions in another library (e.g., `FvgCalculations`) when a new FVG pattern is identified. This object will have its core properties (top, bottom, startTime, isBullish, tfType) initialized.
2. Initial Drawing (`draw` method)
Once a new `fvgObject` is created and its initial visibility is determined:
Call the `myFvg.draw(settings)` method on the new FVG object.
`settings` is an instance of the `drawSettings` UDT, containing all relevant visual configurations.
This method draws the primary FVG box, its midline (if enabled in `settings`), and any initial labels. It also initializes the `currentTop` and `currentBottom` fields of the `fvgObject` if they are `na`, and stores the IDs of the created drawing objects within the `fvgObject`.
3. Per-Bar State Updates & Interaction Checks
On each subsequent bar, for every active `fvgObject`:
Interaction Check (External Logic): It's common to first use logic (e.g., from `FvgCalculations`' `fvgInteractionCheck` function) to determine if the current bar's price interacts with the FVG.
State Field Updates (External Logic): Before calling the `FvgObjectLib` methods below, ensure that your `fvgObject`'s state fields (such as `isMitigated`, `currentTop`, `currentBottom`, `isMidlineTouched`) are updated using the current bar's price data and relevant functions from other libraries (e.g., `FvgCalculations`' `checkMitigation`, `checkPartialMitigation`, etc.). This library's methods render the FVG based on these pre-updated state fields.
If interaction occurs and the FVG is not yet fully mitigated:
Full Mitigation Update (`updateMitigation` method): Call `myFvg.updateMitigation(high, low)`. This method updates `myFvg.isMitigated` and `myFvg.mitigationTime` if full mitigation occurs, based on the interaction determined by external logic.
Partial Fill Update (`updatePartialFill` method): If not fully mitigated, call `myFvg.updatePartialFill(high, low, settings)`. This method updates `myFvg.currentTop` or `myFvg.currentBottom` and adjusts drawings to show the filled portion, again based on prior interaction checks and fill level calculations.
Midline Touch Check (`checkMidlineTouch` method): Call `myFvg.checkMidlineTouch(high, low)`. This method updates `myFvg.isMidlineTouched` if the price touches the FVG's 50% level.
4. Comprehensive Visual Update (`updateDrawings` method)
After the FVG's state fields have been potentially updated by external logic and the methods in step 3:
Call `myFvg.updateDrawings(isVisibleNow, settings)` on each FVG object.
`isVisibleNow` is a boolean indicating if the FVG should currently be visible.
`settings` is the `drawSettings` UDT instance.
This method synchronizes the FVG's visual appearance with its current state and settings, managing all drawing elements (boxes, lines, labels), their styles, and visibility. It efficiently skips redundant drawing operations if the FVG's state or visibility has not changed, thanks to its internal optimization using `prev_*` fields, which are also updated by this method.
5. Deleting Drawings (`deleteDrawings` method)
When an FVG object is no longer tracked:
Call `myFvg.deleteDrawings(deleteTestedToo)`.
This method removes all drawing objects associated with that `fvgObject`.
This workflow ensures that FVG visuals are accurately maintained throughout their existence on the chart.
█ NOTES
Dependencies: This library relies on `FvgTypes` for `fvgObject` and `drawSettings` definitions, and its methods (`updateMitigation`, `updatePartialFill`) internally call functions from `FvgCalculations`.
Drawing Object Management: Be mindful of TradingView's limits on drawing objects per script. The main script should manage the number of active FVG objects.
Performance and `updateDrawings()`: The `updateDrawings()` method is comprehensive. Its internal optimization (checking `hasStateChanged` based on `prev_*` fields) is crucial for performance. Call it judiciously.
Role of `settings.currentTime`: The `currentTime` field in `drawSettings` is key for positioning time-dependent elements like labels and the right edge of non-extended drawings.
Mutability of `fvgObject` Instances: Methods in this library directly modify the `fvgObject` instance they are called upon (e.g., its state fields and drawing IDs).
Drawing ID Checks: Methods generally check if drawing IDs are `na` before acting on them, preventing runtime errors.
█ EXPORTED FUNCTIONS
method draw(this, settings)
Draws the initial visual representation of the FVG object on the chart. This includes the main FVG box, its midline (if enabled), and a label
(if enabled for the specific timeframe). This method is typically invoked
immediately after an FVG is first detected and its initial properties are set. It uses drawing settings to customize the appearance based on the FVG's timeframe type.
Namespace types: types.fvgObject
Parameters:
this (fvgObject type from no1x/FvgTypes/1) : The FVG object instance to be drawn. Core properties (top, bottom,
startTime, isBullish, tfType) should be pre-initialized. This method will
initialize boxId, midLineId, boxLabelId (if applicable), and
currentTop/currentBottom (if currently na) on this object.
settings (drawSettings type from no1x/FvgTypes/1) : A drawSettings object providing all visual parameters. Reads display settings (colors, styles, visibility for boxes, midlines, labels,
box extension) relevant to this.tfType. settings.currentTime is used for
positioning labels and the right boundary of non-extended boxes.
method updateMitigation(this, highVal, lowVal)
Checks if the FVG has been fully mitigated by the current bar's price action.
Namespace types: types.fvgObject
Parameters:
this (fvgObject type from no1x/FvgTypes/1) : The FVG object instance. Reads this.isMitigated, this.isVisible,
this.isBullish, this.top, this.bottom. Updates this.isMitigated and
this.mitigationTime if full mitigation occurs.
highVal (float) : The high price of the current bar, used for mitigation check.
lowVal (float) : The low price of the current bar, used for mitigation check.
method updatePartialFill(this, highVal, lowVal, settings)
Checks for and processes partial fills of the FVG.
Namespace types: types.fvgObject
Parameters:
this (fvgObject type from no1x/FvgTypes/1) : The FVG object instance. Reads this.isMitigated, this.isVisible,
this.isBullish, this.currentTop, this.currentBottom, original this.top/this.bottom,
this.startTime, this.tfType, this.isLV. Updates this.currentTop or
this.currentBottom, creates/updates this.mitigatedBoxId, and may update this.boxId's
top/bottom to reflect the filled portion.
highVal (float) : The high price of the current bar, used for partial fill check.
lowVal (float) : The low price of the current bar, used for partial fill check.
settings (drawSettings type from no1x/FvgTypes/1) : The drawing settings. Reads timeframe-specific colors for mitigated
boxes (e.g., settings.mitigatedBullBoxColor, settings.mitigatedLvBullColor),
box extension settings (settings.shouldExtendBoxes, settings.shouldExtendMtfBoxes, etc.),
and settings.currentTime to style and position the mitigatedBoxId and potentially adjust the main boxId.
method checkMidlineTouch(this, highVal, lowVal)
Checks if the FVG's midline (50% level or Equilibrium) has been touched.
Namespace types: types.fvgObject
Parameters:
this (fvgObject type from no1x/FvgTypes/1) : The FVG object instance. Reads this.midLineId, this.isMidlineTouched,
this.top, this.bottom. Updates this.isMidlineTouched if a touch occurs.
highVal (float) : The high price of the current bar, used for midline touch check.
lowVal (float) : The low price of the current bar, used for midline touch check.
method deleteDrawings(this, deleteTestedToo)
Deletes all visual drawing objects associated with this FVG object.
Namespace types: types.fvgObject
Parameters:
this (fvgObject type from no1x/FvgTypes/1) : The FVG object instance. Deletes drawings referenced by boxId,
mitigatedBoxId, midLineId, mitLineId, boxLabelId, mitLineLabelId,
and potentially testedBoxId, keptMitLineId. Sets these ID fields to na.
deleteTestedToo (simple bool) : If true, also deletes drawings for "tested" FVGs
(i.e., testedBoxId and keptMitLineId).
method updateDrawings(this, isVisibleNow, settings)
Manages the comprehensive update of all visual elements of an FVG object
based on its current state (e.g., active, mitigated, partially filled) and visibility. It handles the drawing, updating, or deletion of FVG boxes (main and mitigated part),
midlines, mitigation lines, and their associated labels. Visibility is determined by the isVisibleNow parameter and relevant settings
(like settings.shouldHideMitigated or timeframe-specific show flags). This method is central to the FVG's visual lifecycle and includes optimization
to avoid redundant drawing operations if the FVG's relevant state or appearance
settings have not changed since the last bar. It also updates the FVG object's internal prev_* state fields for future optimization checks.
Namespace types: types.fvgObject
Parameters:
this (fvgObject type from no1x/FvgTypes/1) : The FVG object instance to update. Reads most state fields (e.g.,
isMitigated, currentTop, tfType, etc.) and updates all drawing ID fields
(boxId, midLineId, etc.), this.isVisible, and all this.prev_* state fields.
isVisibleNow (bool) : A flag indicating whether the FVG should be currently visible. Typically determined by external logic (e.g., visual range filter). Affects
whether active FVG drawings are created/updated or deleted by this method.
settings (drawSettings type from no1x/FvgTypes/1) : A fully populated drawSettings object. This method extensively
reads its fields (colors, styles, visibility toggles, timeframe strings, etc.)
to render FVG components according to this.tfType and current state. settings.currentTime is critical for positioning elements like labels and extending drawings.
Sector Relative StrengthDescription
This script compares sector performance relative to the S&P 500. Sector price levels or charts alone can mislead, because they tend to move with the broader market. An increase in a sector’s price does not necessarily indicate strength, as it may simply be following the index.
For more a more reliable picture, the script calculates a ratio between each sector ETF and SPY. If the ratio has increased, the sector has outperformed the index. In case it has declined, the sector has underperformed. If the value is near zero, the sector has moved in line with the index. The sectors are presented in a table and sorted on relative performance.
Calculation Method
The performance is expressed as a percentage change in the ratio over a user-defined lookback period. The default lookback is set to 21 bars, which corresponds to one month on a daily chart. This value can be adopted in the settings to match preferred time period.
Z-Score
In addition to the percentage change, the script calculates a Z-score of the ratio, which measures how far the current value deviates from its recent mean. A high positive Z-score indicates that the ratio is significantly above its average, while a negative value indicates it is below. This normalization allows for comparison between sectors with different price levels or volatility profiles.
Table Columns
- Relative %: The sector's performance relative to SPY over the selected lookback period
- Z-Score: Standardized measure of current performance ratio is relative to its average
- Trend Arrow: Indicates the direction of relative performance up down or flat
Example Interpretation
For example, if XLK shows a 3.7% change, it has outperformed SPY over the selected period. Another sector might show a -2.1% change, which indicates underperformance. While both values shows relative strength or weakness, the Z-score is optional and can provide additional context based on how unusual that performance is compared to the sector's own recent behavior.
Use Case
This approach helps evaluate overall market conditions and supports a top-down method. By starting with sector performance, it becomes easier to identify where the market is showing leadership or weakness. This allows the stock selection process to be more deliberate and can help refine or customize screeners based on certain sectors.
UTSStrategyHelperLibrary "UTSStrategyHelper"
TODO: add library description here
stopLossPrice(sig, atr, factor, isLong)
Calculates the stop loss price using a distance determined by ATR multiplied by a factor. Example for Long trade SL: PRICE - (ATR * factor).
Parameters:
sig (float)
atr (float) : (float): The value of the atr.
factor (float)
isLong (bool) : (bool): The current trade direction.
Returns: (bool): A boolean value.
takeProfitPrice(sig, atr, factor, isLong)
Calculates the take profit price using a distance determined by ATR multiplied by a factor. Example for Long trade TP: PRICE + (ATR * factor). When take profit price is reached usually 50 % of the position is closed and the other 50 % get a trailing stop assigned.
Parameters:
sig (float)
atr (float) : (float): The value of the atr.
factor (float)
isLong (bool) : (bool): The current trade direction.
Returns: (bool): A boolean value.
trailingStopPrice(initialStopPrice, atr, factor, priceSource, isLong)
Calculates a trailing stop price using a distance determined by ATR multiplied by a factor. It takes an initial price and follows the price closely if it changes in a favourable way.
Parameters:
initialStopPrice (float) : (float): The initial stop price which, for consistency also should be ATR * factor behind price: e.g. Long trade: PRICE - (ATR * factor)
atr (float) : (float): The value of the atr. Ideally the ATR value at trade open is taken and used for subsequent calculations.
factor (float)
priceSource (float) : (float): The current price.
isLong (bool) : (bool): The current trade direction.
Returns: (bool): A boolean value.
hasGreaterPositionSize(positionSize)
Determines if the strategy's position size has grown since the last bar.
Parameters:
positionSize (float) : (float): The size of the position.
Returns: (bool): A boolean value.
hasSmallerPositionSize(positionSize)
Determines if the strategy's position size has decreased since the last bar.
Parameters:
positionSize (float) : (float): The size of the position.
Returns: (bool): A boolean value.
hasUnchangedPositionSize(positionSize)
Determines if the strategy's position size has changed since the last bar.
Parameters:
positionSize (float) : (float): The size of the position.
Returns: (bool): A boolean value.
exporthasLongPosition(positionSize)
Determines if the strategy has an open long position.
Parameters:
positionSize (float) : (float): The size of the position.
Returns: (bool): A boolean value.
hasShortPosition(positionSize)
Determines if the strategy has an open short position.
Parameters:
positionSize (float) : (float): The size of the position.
Returns: (bool): A boolean value.
hasAnyPosition(positionSize)
Determines if the strategy has any open position, regardless of short or long.
Parameters:
positionSize (float) : (float): The size of the position.
Returns: (bool): A boolean value.
hasSignal(value)
Determines if the given argument contains a valid value (means not 'na').
Parameters:
value (float) : (float): The actual value.
Returns: (bool): A boolean value.
Adaptive ATR Limits█ OVERVIEW
This indicator plots adaptive ATR limits for intraday trading. A key feature of this indicator, which makes it different from other ATR limit indicators, is that the top and bottom ATR limit lines are always exactly one ATR apart from each other (in "auto" mode; there is also a "basic" mode, which plots the limits in the more traditional way—i.e., one ATR above the low and one ATR below the high at all times—and this can be used for comparison).
█ FEATURES
Provides an algorithm to plot the most reasonable intraday ATR top/bottom limits based on currently available information
Dynamically adapts limits as the price evolves during the day
Works correctly and consistently on both RTH and ETH charts
Has a user-selected ADR mode to base the limits on ADR instead of ATR
Option to include the current pre-market and previous day's post-market range in the calculation
Configurable ATR/ADR averaging length
Provides a visual smoothing option
Provides an information box showing the current numerical ATR/ADR values
Reasonable defaults that work well if the user changes nothing
Well-documented, high-quality, open-source code for those interested
█ HOW TO USE
At a minimum, there is nothing that needs to be set. The defaults work well. The ATR top line (red, configurable) gives you the most reasonable move given the currently available information. The line will move away from the price as the price approaches it; that is normal—it is reacting to new information. This happens until the ATR bottom limit hits the lower of the daily low and the previous day's close (in ATR mode). The ATR bottom line (green, configurable) works the same way, with reversed logic.
There is an option to use ADR instead of ATR. The ATR includes the previous day's RTH close in the range, whereas ADR does not. Another option allows the user to add the current day's pre-market range or the previous day's post-market into the current day's range, which has an effect if either of those went outside of today's RTH range, plus yesterday's RTH close (in the default ATR mode). Pre-market and post-market range is not typically included in the daily true range, so only change it if you really know you want it.
█ CONCEPTS
Most traditional ATR limit indicators plot the top ATR limit one ATR above the current daily low, and the bottom ATR limit one ATR below the current daily high. This indicator can also do that (in "basic" mode), but its value lies in its default "auto" mode, which uses an algorithm to dynamically adapt the ATR limits throughout the day, keeping them one ATR apart at all times. It tries to plot the most sensible ATR limits based on the current daily ATR, in order to provide a reasonable visual intraday target, given the available information at that point in time.
"Auto" mode is actually a weighted average of two methods: midpoint and relative (both of which can also be explicitly selected). The midpoint method places the midpoint of the ATR limit equal to the midpoint of the currently established daily range. The relative method measures the currently established daily range and calculates the position of the current price within it (as a ratio between 0 and 1). It then uses that value as a weight in a weighted average of extreme locations for the ATR limits, which are: the ATR top anchored to one ATR above the daily low, and the ATR bottom anchored to one ATR below the daily high.
The relative method is more advanced and better for most of the day; however, it can cause wild swings in the early market or pre-market before a reasonable range (as a percentage of ATR) has been established. "Auto" mode therefore takes another weighted average between the two methods, with the weight determined by the percentage of the ATR currently established within the day, more strongly weighting the calmer midpoint method before a good range is established. Once the full ATR has been achieved, the algorithm in "auto" mode will have fully switched to the relative method and will remain with that method for the rest of the day.
To explain the effect further, as an example, imagine that the price is approaching the full ATR range on the high side. At this point, the indicator will have almost fully transitioned to the second (relative) method. The lower ATR limit will now be anchored to the daily low as the price hits the upper ATR limit. If the price goes beyond the upper ATR, the lower ATR limit will stay anchored to the daily low, and the upper limit will stay anchored to one ATR above the lower limit. This allows you to see how far the price is going beyond the upper ATR limit. If the price then returns and backs off the upper ATR limit, the lower ATR limit will un-anchor from the daily low (it will actually rise, since the daily ATR range has been exceeded, so the lower ATR limit needs to come up because the actual daily range can’t fit into the ATR range anymore). The overall effect is to give you the best visual indication of where the price is in relation to a possible upper ATR-based target. Reverse this example for when the price low approaches the ATR range on the low side.
Care was taken so that the code uses no hard-coded time zones, exchanges, or session times. For this reason, it can in principle work globally. However, it very much depends on the information provided by the exchange, which is reflected in built-in Pine Script variables (see Limitations below).
█ LIMITATIONS
The indicator was developed for US/European equities and is tested on them only. It is also known to work on US futures; in this case, the whole 23-hour session is used, and the "Sessions to include in range" setting has no effect. It may or may not work as intended on security types and equities/futures for other countries.
[Stop!Loss] ADR Signal ADR Signal - a technical indicator located in a separate window, which displays by default the 80%-level , as well as the 100%-level of the average daily range (ADR) for the last 10 days and compares it with the current intraday range. The indicator helps not only with the use of a mathematical-statistical method to identify a potential reversal at the moment during intraday trading, but can also serves as an effective assistant in risk management.
👉 Basic mechanics of the indicator
Firstly, this indicator tracks the performance of the standard ATR indicator on the daily chart, in other words, ADR (Average Daily Range).
Important ❗️The ATR (Average True Range) indicator was created by J. Welles Wilder Jr. He first introduced ATR in his book "New Concepts in Technical Trading Systems", published in 1978. Wilder developed this indicator to measure market volatility to help traders estimate the range of price movements. This indicator is built into TradingView, more details can be found by link: www.tradingview.com
Like ATR , ADR calculates the average true range for a specified period. In this case, the distance in points from the maximum of each day to its minimum is calculated, after which the arithmetic mean is calculated - this is ADR .
👉 Visualization
ADR Signal is located in a separate window on the chart and has 3 levels:
1) "ADR level" (green line) - the same parameter, the calculations of which are briefly described above. There is 100%-level of ATR on the daily chart (ADR).
2) "Current level" (red line) - this is the current price passage within the day, calculated in points. At the start of a new day, this parameter is reset. Therefore, in the indicator window, this line has sharp drops at the start of a new trading day: "A new trading day - the instrument's power reserve is renewed again".
3) "Signal level" (blue line) - this is an individually customized value that demonstrates a certain part of the ADR parameter.
👉 Inputs
1) - is responsible for the ATR indicator period, the value of which will always be calculated on the daily chart. The default value is "10", that is, ATR is calculated for the last 10 days (not including the current one).
2) - signal level (in %). The default value is "0.8", that is, 80%-level of the ADR parameter (set earlier) is calculated.
👉 Style
1) - by default, this level is colored "blue".
2) - by default, this level is colored "red".
3) - by default, this level is colored "green".
👉 How to use this indicator
Important❗️ The two methods of the use of the ADR Signal indicator described below will be most effective when trading intraday (which is highlighted quite well below), so it is more logical to use the indicator information on time periods H1 and below.
1) Identifying potential reversals during intraday trading:
The ADR Signal indicator can be used as a potential individual reversal strategy.
Important ❗️It should be noted that using it in it without additional confirming analysis tools will be a rather aggressive trading approach. Therefore, it is best to support the entry point in particular with other methods.
In this case, the crossing of the red line (the number of points passed within the current day, that is, from the minimum of the current day to its maximum) and the blue line (color of the Signal level based on the default settings), indicates that the trading instrument has passed 80% (based on the default settings for the "Signal level") of its average distance from the maximum to the minimum over the past 10 days (based on the default settings for the "ADR Length"). Such a situation in the context of the mathematical-statistical approach indicates a probable reversal, since the "power reserve" of this instrument is mostly exhausted, so one can expect with a higher probability, at least, a price stop and possibly a reversal. In case of crossing of the red line and the green one (ADR level), it says again that based on the mathematical-statistical approach, this trading instrument has completely exhausted its intraday "power reserve". In this situation, a stop or reversal of the price will be even more likely.
Of course, using the "Signal level" parameter, one can filter out even more reliable situations for potential price reversals within a day, namely, by specifying, for example, 1.5 in the field of this parameter. Under such conditions, in the case of crossing the red and blue lines (based on the default style settings), to say that the trading instrument has passed 150% of its average distance over the last 10 days (based on the default style settings "ADR length"). In this case, the probability of a stop or reversal of the price increases even more.
2) Use in risk management:
In terms of risk management, this indicator is more applicable to open trades. For example, if one had an open Buy-position (especially if it is an intraday trade) and the price has raised significantly during the day, then the crossing of the red line with the blue line , and especially the red line with the green line , may indicate that the price will most likely stop growing, since the "power reserve" is almost or completely exhausted for this instrument within the current day. In this case, one can, at a minimum, move the trade to breakeven or even partially fix the profit.
We will continue to discuss the methods of using this indicator and strategies based on it here. And we are always waiting for your reactions and feedback on this topic 💬.
Thank you for your support 🚀
Trend Trader-Remastered StrategyOfficial Strategy for Trend Trader - Remastered
Indicator: Trend Trader-Remastered (TTR)
Overview:
The Trend Trader-Remastered is a refined and highly sophisticated implementation of the Parabolic SAR designed to create strategic buy and sell entry signals, alongside precision take profit and re-entry signals based on marked Bill Williams (BW) fractals. Built with a deep emphasis on clarity and accuracy, this indicator ensures that only relevant and meaningful signals are generated, eliminating any unnecessary entries or exits.
Please check the indicator details and updates via the link above.
Important Disclosure:
My primary objective is to provide realistic strategies and a code base for the TradingView Community. Therefore, the default settings of the strategy version of the indicator have been set to reflect realistic world trading scenarios and best practices.
Key Features:
Strategy execution date&time range.
Take Profit Reduction Rate: The percentage of progressive reduction on active position size for take profit signals.
Example:
TP Reduce: 10%
Entry Position Size: 100
TP1: 100 - 10 = 90
TP2: 90 - 9 = 81
Re-Entry When Rate: The percentage of position size on initial entry of the signal to determine re-entry.
Example:
RE When: 50%
Entry Position Size: 100
Re-Entry Condition: Active Position Size < 50
Re-Entry Fill Rate: The percentage of position size on initial entry of the signal to be completed.
Example:
RE Fill: 75%
Entry Position Size: 100
Active Position Size: 50
Re-Entry Order Size: 25
Final Active Position Size:75
Important: Even RE When condition is met, the active position size required to drop below RE Fill rate to trigger re-entry order.
Key Points:
'Process Orders on Close' is enabled as Take Profit and Re-Entry signals must be executed on candle close.
'Calculate on Every Tick' is enabled as entry signals are required to be executed within candle time.
'Initial Capital' has been set to 10,000 USD.
'Default Quantity Type' has been set to 'Percent of Equity'.
'Default Quantity' has been set to 10% as the best practice of investing 10% of the assets.
'Currency' has been set to USD.
'Commission Type' has been set to 'Commission Percent'
'Commission Value' has been set to 0.05% to reflect the most realistic results with a common taker fee value.
