Mean Trend OscillatorMean Trend Oscillator
The Mean Trend Oscillator offers an original approach to trend analysis by integrating multiple technical indicators, using statistic to get a probable signal, and dynamically adapting to market volatility.
This tool aggregates signals from four popular indicators—Relative Strength Index (RSI), Simple Moving Average (SMA), Exponential Moving Average (EMA), and Relative Moving Average (RMA)—and adjusts thresholds using the Average True Range (ATR). By using this, we can use Statistics to aggregate or take the average of each indicators signal. Mathematically, Taking an average of these indicators gives us a better probability on entering a trending state.
By consolidating these distinct perspectives, the Mean Trend Oscillator provides a comprehensive view of market direction, helping traders make informed decisions based on a broad, data-driven trend assessment. Traders can use this indicator to enter long spot or leveraged positions. The Mean Trend Oscillator is intended to be use in long term trending markets. Scalping MUST NOT be used with this indicator. (This indicator will give false signals when the Timeframe is too low. The best intended use for high-quality signals are longer timeframes).
The current price of a beginning trend series may tell us something about the next move. Thus, the Mean Trend Oscillator allows us to spot a high probability trending market and potentially exploit this information enter long or shorts strategy. (again, this indicator will give false signals when the Timeframe is too low. The best intended use for high-quality signals are longer timeframes).
Concept and Calculation and Inputs
The Mean Trend Oscillator calculates a “net trend” score as follows:
RSI evaluates market momentum, identifying overbought and oversold conditions, essential for confirming trend direction.
SMA, EMA, and RMA introduce varied smoothing methods to capture short- to medium-term trends, balancing quick price changes with smoothed averages.
ATR-Enhanced Thresholds: ATR is used as a dynamic multiplier, adjusting each indicator’s thresholds to current volatility levels, which helps reduce noise in low-volatility conditions and emphasizes significant signals when volatility spikes.
Length could be used to adjust how quickly each indicator can more or how slower each indicator can be.
Time Coherency for Inputs: Each indicator must be calculated where each signal is relatively around the same area.
For example:
Simply:
SMA, RMA, EMA, and RSI enters long around each intended trend period. Doesn't have to be perfect, but the indicators all enter long around there.
Each indicator contributes a score (+1 for bullish and -1 for bearish), and these scores are averaged to generate the final trend score:
A positive score, shown as a green line, suggests bullish conditions.
A negative score, indicated by a red line, signifies bearish conditions.
Thus, giving us a signal to long or short.
How to Use the Mean Trend Oscillator
This indicator’s output is straightforward and can fit into various trading strategies:
Bullish Signal: A green line shows that the trend is bullish, based on a positive average score across the indicators, signaling a consideration of longing an asset.
Bearish Signal: A red line indicates bearish conditions, with an overall negative trend score, signaling a consideration to shorting an asset.
By aggregating these indicators, the Mean Trend Oscillator helps traders identify strong trends while filtering out minor fluctuations, making it a versatile tool for both short- and long-term analysis. This multi-layered, adaptive approach to trend detection sets it apart from traditional single-indicator trend tools.
Indikatoren und Strategien
PDF Smoothed Moving Average [BackQuant]PDF Smoothed Moving Average
Introducing BackQuant’s PDF Smoothed Moving Average (PDF-MA) — an innovative trading indicator that applies Probability Density Function (PDF) weighting to moving averages, creating a unique, trend-following tool that offers adaptive smoothing to price movements. This advanced indicator gives traders an edge by blending PDF-weighted values with conventional moving averages, helping to capture trend shifts with enhanced clarity.
Core Concept: Probability Density Function (PDF) Smoothing
The Probability Density Function (PDF) provides a mathematical approach to applying adaptive weighting to data points based on a specified variance and mean. In the PDF-MA indicator, the PDF function is used to weight price data, adding a layer of probabilistic smoothing that enhances the detection of trend strength while reducing noise.
The PDF weights are controlled by two key parameters:
Variance: Determines the spread of the weights, where higher values spread out the weighting effect, providing broader smoothing.
Mean : Centers the weights around a particular price value, influencing the trend’s directionality and sensitivity.
These PDF weights are applied to each price point over the chosen period, creating an adaptive and smooth moving average that more closely reflects the underlying price trend.
Blending PDF with Standard Moving Averages
To further improve the PDF-MA, this indicator combines the PDF-weighted average with a traditional moving average, selected by the user as either an Exponential Moving Average (EMA) or Simple Moving Average (SMA). This blended approach leverages the strengths of each method: the responsiveness of PDF smoothing and the robustness of conventional moving averages.
Smoothing Method: Traders can choose between EMA and SMA for the additional moving average layer. The EMA is more responsive to recent prices, while the SMA provides a consistent average across the selected period.
Smoothing Period: Controls the length of the lookback period, affecting how sensitive the average is to price changes.
The result is a PDF-MA that provides a reliable trend line, reflecting both the PDF weighting and traditional moving average values, ideal for use in trend-following and momentum-based strategies.
Trend Detection and Candle Coloring
The PDF-MA includes a built-in trend detection feature that dynamically colors candles based on the direction of the smoothed moving average:
Uptrend: When the PDF-MA value is increasing, the trend is considered bullish, and candles are colored green, indicating potential buying conditions.
Downtrend: When the PDF-MA value is decreasing, the trend is considered bearish, and candles are colored red, signaling potential selling or shorting conditions.
These color-coded candles provide a quick visual reference for the trend direction, helping traders make real-time decisions based on the current market trend.
Customization and Visualization Options
This indicator offers a range of customization options, allowing traders to tailor it to their specific preferences and trading environment:
Price Source : Choose the price data for calculation, with options like close, open, high, low, or HLC3.
Variance and Mean : Fine-tune the PDF weighting parameters to control the indicator’s sensitivity and responsiveness to price data.
Smoothing Method : Select either EMA or SMA to customize the conventional moving average layer used in conjunction with the PDF.
Smoothing Period : Set the lookback period for the moving average, with a longer period providing more stability and a shorter period offering greater sensitivity.
Candle Coloring : Enable or disable candle coloring based on trend direction, providing additional clarity in identifying bullish and bearish phases.
Trading Applications
The PDF Smoothed Moving Average can be applied across various trading strategies and timeframes:
Trend Following : By smoothing price data with PDF weighting, this indicator helps traders identify long-term trends while filtering out short-term noise.
Reversal Trading : The PDF-MA’s trend coloring feature can help pinpoint potential reversal points by showing shifts in the trend direction, allowing traders to enter or exit positions at optimal moments.
Swing Trading : The PDF-MA provides a clear trend line that swing traders can use to capture intermediate price moves, following the trend direction until it shifts.
Final Thoughts
The PDF Smoothed Moving Average is a highly adaptable indicator that combines probabilistic smoothing with traditional moving averages, providing a nuanced view of market trends. By integrating PDF-based weighting with the flexibility of EMA or SMA smoothing, this indicator offers traders an advanced tool for trend analysis that adapts to changing market conditions with reduced lag and increased accuracy.
Whether you’re trading trends, reversals, or swings, the PDF-MA offers valuable insights into the direction and strength of price movements, making it a versatile addition to any trading strategy.
Patrick [TFO]This Patrick indicator was made for the 1 year anniversary of my Spongebob indicator, which was an experiment in using the polyline features of Pine Script to draw complex subjects. This indicator was made with the same methodology, with some helper functions to make things a bit easier on myself. It's sole purpose is to display a picture of Patrick Star on your chart, particularly the "I have $3" meme.
The initial Spongebob indicator included more than 1300 lines of code, as there were several more shapes to account for compared to Patrick, however it was done rather inefficiently. I essentially used an anchor point for each "layer" or shape (eye, nose, mouth, etc.), and drew from that point. This resulted in a ton of trial and error as I had to be very careful about the anchor points for each and every layer, and then draw around that point. In this indicator, however, I gave myself a frame to work with by specifying fixed bounds that you'll see in the code: LEFT, RIGHT, TOP, and BOTTOM.
var y_size = 4
atr = ta.atr(50)
LEFT = bar_index + 10
RIGHT = LEFT + 200
TOP = open + atr * y_size
BOTTOM = open - atr * y_size
You may notice that the top and bottom scale with the atr, or Average True Range to account for varying price fluctuations on different assets.
With these limits established, I could write some simple functions to translate my coordinates, using a range of 0-100 to describe how far the X coordinates should be from left to right, where left is 0 and right is 100; and likewise how far the Y coordinates should be from bottom to top, where bottom is 0 and top is 100.
X(float P) =>
result = LEFT + math.floor((RIGHT - LEFT)*P/100)
Y(float P) =>
result = BOTTOM + (TOP - BOTTOM)*P/100
With these functions, I could then start drawing points much simpler, with respect to the overall frame of the picture. If I wanted a point in the dead center of the frame, I would choose X(50), Y(50) for example.
At this point, the process just became tediously drawing each layer of my reference picture, including but not limited to Patrick's body, arm, mouth, eyes, eyebrows, etc. I've attached the reference picture here (left), without the text enabled.
As tedious as this was to create, it was done much more efficiently than Spongebob, and the ideas used here will make it much easier to draw more complex subjects in the future.
Immediate Rebalance ICT [TradingFinder] No Imbalances - MTF Gaps🔵 Introduction
The concept of "Immediate Rebalance" in technical analysis is a powerful and advanced strategy within the ICT (Inner Circle Trader) framework, widely used to identify key market levels.
Unlike the "Fair Value Gap," which leaves a price gap requiring a retracement for a fill, an Immediate Rebalance fills the gap immediately, representing an instant balance that strengthens the prevailing market trend. This structure allows traders to quickly spot critical price zones, capitalizing on strong trend continuations without the need for price retracement.
The "Immediate Rebalance ICT" indicator leverages this concept, providing traders with automated identification of critical supply and demand zones, order blocks, liquidity voids, and key buy-side and sell-side liquidity levels.
Through features like crucial liquidity points and immediate rebalancing areas, this tool enables traders to perform precise real-time market analysis and seize profitable opportunities.
🔵 How to Use
The Immediate Rebalance indicator assists traders in identifying reliable trading signals by detecting and analyzing Immediate Rebalance zones. By focusing on supply and demand areas, the indicator pinpoints optimal entry and exit positions.
Here’s how to use the indicator in both bearish (Supply Immediate Rebalance) and bullish (Demand Immediate Rebalance) structures :
🟣 Bullish Structure (Demand Immediate Rebalance)
In a bullish scenario, the indicator detects a Demand Immediate Rebalance formed by two consecutive bullish candles with overlapping wicks. This structure signifies an immediate demand zone, where price instantly balances within the zone, reducing the likelihood of a revisit and indicating potential upside momentum.
Zone Identification : Look for two consecutive bullish candles with overlapping wicks, forming a demand zone. This structure, due to its rapid balance, usually does not require a revisit and supports further upward movement.
Entry and Exit Levels : If price revisits this zone, percentage markers, particularly 50% and 75%, act as supportive levels, creating ideal entry points for long positions.
Example : In the second image, an example of a Demand Immediate Rebalance is shown, where overlapping bullish candle shadows indicate immediate balance, supporting the continuation of the bullish trend.
🟣 Bearish Structure (Supply Immediate Rebalance)
In a bearish setup, the indicator identifies a Supply Immediate Rebalance when two consecutive bearish candles with overlapping wicks appear. This formation signals an immediate supply zone, suggesting a high probability of trend continuation to the downside, with minimal expectation for price to retrace back to this area.
Zone Identificatio n: Look for two consecutive bearish candles with overlapping shadows. This structure forms a supply area where price is expected to continue its downtrend without revisiting the zone.
Entry and Exit Level s: Should price revisit this zone, percentage-based levels (e.g., 50% and 75%) serve as potential resistance points, optimizing entry for short positions, especially if the downtrend is expected to persist.
Example : The attached chart illustrates a Supply Immediate Rebalance, where overlapping candle shadows define this area, reassuring traders of a continued downward trend with a low likelihood of price returning to this zone.
🔵 Settings
ImmR Filter : This filter allows users to adjust the detection of Immediate Rebalance zones in four modes, from "Very Aggressive" to "Very Defensive," based on zone width. The chosen mode controls the sensitivity of Immediate Rebalance detection, allowing users to fine-tune the indicator to their trading style.
Multi Time Frame : Enabling this option allows users to set the indicator to a specific timeframe (1 minute, 5 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, daily, weekly, or monthly), broadening the perspective for identifying Immediate Rebalance zones across multiple timeframes.
🔵 Conclusion
The Immediate Rebalance indicator, based on rapid balancing zones within supply and demand areas, serves as a powerful tool for market analysis and improving trade decision-making.
By accurately identifying zones where price achieves instant balance without gaps, the indicator highlights areas likely to support strong trend continuations, exempt from common retracements.
The indicator’s use of percentage levels enables traders to pinpoint optimal entry and exit points more effectively, with levels like 50% and 75% acting as support within demand zones and resistance within supply zones. This empowers traders to ride strong trends without the worry of abrupt reversals.
Overall, the Immediate Rebalance is a reliable tool for both professional and beginner traders seeking precise methods to recognize supply and demand zones, capitalizing on consistent trends.
By choosing appropriate settings and focusing on the zones highlighted by this indicator, traders can enter trades with greater confidence and improve their risk management.
Valid Pullbacks and Trend by kpt. GonzoThis script helps identify valid pullbacks. Based on the marked pullbacks, it can draw both internal and external structure trendlines.
A pullback is marked with a small triangle above or below the candle that created the local high or low.
A new local high is marked with a red triangle above the candle if at least one subsequent candle has a low lower than the low of the candle that created the new local high.
A new local low is marked with a green triangle below the candle if at least one subsequent candle has a high higher than the high of the candle that created the new local low.
Based on the marked local highs and lows, the internal structure trendline is created by simply connecting all highs and lows with a line.
The external structure is drawn in a similar way, but only highs and lows that have broken the previous structure are connected. This helps focus on important pivots and better understand the market structure.
Support and Resistance (High Volume Boxes BitNexusX) Support and Resistance Indicator (High Volume Boxes by BitNexusX):
Overview:
The BitNexusX "Support and Resistance" indicator identifies key price levels using pivot points and volume analysis. It displays these levels with color-coded boxes, indicating volume strength, which aids traders in identifying possible price reversals and optimal buy/sell zones.
Key Features:
- Dynamic Support and Resistance Boxes:
The indicator creates support (green) and resistance (red) boxes based on pivot points and volume thresholds. Box color intensity increases with volume, showing the strength of the level. Boxes expand until replaced by a new box of the same type.
- Volume-Based Color Coding:
Green boxes indicate support with strong buying volume, while red boxes show resistance with strong selling volume.
- Hold Signals:
Green diamonds signal strong support, while red diamonds indicate strong resistance, suggesting potential buy or sell points.
- Breakout Labels:
When price moves past support or resistance, it changes roles (support becomes resistance and vice versa). Labels like "Break Sup" and "Break Res" mark these shifts, showing significant market movements.
Usage Notes:
This indicator helps traders pinpoint strong support and resistance areas, providing insight into volume strength at these levels for more confident trading decisions.
Settings:
Options include the lookback period for pivot points, a volume filter for enhanced accuracy, and box width adjustments.
Purpose:
Designed to simplify trading by offering clear visual signals for support and resistance levels, allowing traders to easily identify potential price reversals and key trading opportunities based on volume data.
Alpine Predictive BandsAlpine Predictive Bands - ADX & Trend Projection is an advanced indicator crafted to estimate potential price zones and trend strength by integrating dynamic support/resistance bands, ADX-based confidence scoring, and linear regression-based price projections. Designed for adaptive trend analysis, this tool combines multi-timeframe ADX insights, volume metrics, and trend alignment for improved confidence in trend direction and reliability.
Key Calculations and Components:
Linear Regression for Price Projection:
Purpose: Provides a trend-based projection line to illustrate potential price direction.
Calculation: The Linear Regression Centerline (LRC) is calculated over a user-defined lookbackPeriod. The slope, representing the rate of price movement, is extended forward using predictionLength. This projected path only appears when the confidence score is 70% or higher, revealing a white dotted line to highlight high-confidence trends.
Adaptive Prediction Bands:
Purpose: ATR-based bands offer dynamic support/resistance zones by adjusting to volatility.
Calculation: Bands are calculated using the Average True Range (ATR) over the lookbackPeriod, multiplied by a volatilityMultiplier to adjust the width. These shaded bands expand during higher volatility, guiding traders in identifying flexible support/resistance zones.
Confidence Score (ADX, Volume, and Trend Alignment):
Purpose: Reflects the reliability of trend projections by combining ADX, volume status, and EMA alignment across multiple timeframes.
ADX Component: ADX values from the current timeframe and two higher timeframes assess trend strength on a broader scale. Strong ADX readings across timeframes boost the confidence score.
Volume Component: Volume strength is marked as “High” or “Low” based on a moving average, signaling trend participation.
Trend Alignment: EMA alignment across timeframes indicates “Bullish” or “Bearish” trends, confirming overall trend direction.
Calculation: ADX, volume, and trend alignment integrate to produce a confidence score from 0% to 100%. When the score exceeds 70%, the white projection line is activated, underscoring high-confidence trend continuations.
User Guide
Projection Line: The white dotted line, which appears only when the confidence score is 70% or higher, highlights a high-confidence trend.
Prediction Bands: Adaptive bands provide potential support/resistance zones, expanding with market volatility to help traders visualize price ranges.
Confidence Score: A high score indicates a stronger, more reliable trend and can support trend-following strategies.
Settings
Prediction Length: Determines the forward length of the projection.
Lookback Period: Sets the data range for calculating regression and ATR.
Volatility Multiplier: Adjusts the width of bands to match volatility levels.
Disclaimer: This indicator is for educational purposes and does not guarantee future price outcomes. Additional analysis is recommended, as trading carries inherent risks.
Bharat Jhunjhunwala V3 SMC OB-BBThe Pine Scripts shared is indicators designed to identify order blocks and breaker blocks on price charts, which are useful for traders seeking support and resistance zones.
The original script, "Order Blocks & Breaker Blocks " by LuxAlgo, provides a customizable tool allowing traders to control various settings such as the swing lookback period, the number of order blocks displayed, and whether to use candle wicks or bodies. This flexibility makes it versatile for different trading preferences and markets.
In contrast, the modified script, "Bharat Jhunjhunwala SMC OB-BB," simplifies and adapts the tool specifically for the Indian markets based on backtesting. To make it more user-friendly, this version locks key settings such as a fixed swing lookback period of 10 and limits the display to only the most recent bullish and bearish order blocks, using candle bodies instead of wicks for calculations.
This makes the modified script straightforward and targeted, catering specifically to traders in the Indian market who benefit from a reliable, easy-to-use indicator without the need for extensive adjustments.
The modified script acknowledges the original LuxAlgo script as its foundation, crediting their methodology and valuable contributions to order block analysis.
RVI Crossover Strategy[Kopottaja]Overview of the RVI Crossover Strategy
Strategy Name: RVI Crossover Strategy
Purpose: The RVI Crossover Strategy is based on the crossover signals between the Relative Vigor Index (RVI) and its moving average signal line. This strategy aims to identify potential buy and sell signals by evaluating the market’s directional trend.
Key Indicator Features
Relative Vigor Index (RVI): This indicator measures the momentum of price changes over a specified period and helps identify the market’s current trend. The RVI is based on the idea that prices generally close higher than they open in an uptrend (and lower in a downtrend). The RVI helps provide an indication of the strength and direction of a trend.
Signal Line: A moving average (e.g., SMA) is applied to the RVI values, creating a "signal line." When the RVI crosses above or below this line, it signals a potential trading opportunity.
Calculations and Settings
Calculating the RVI: The RVI is calculated by comparing the difference between the close and open prices to the difference between high and low prices. This provides information about the direction and momentum of price movement:
RVI= Sum(SWMA(high−low))Sum(SWMA(close−open))
where SWMA is a smoothed weighted moving average over a specified period.
Signal Line Calculation: The RVI value is smoothed by applying a simple moving average (SMA) to create the signal line. This signal line helps filter crossover signals for improved accuracy.
Buy and Sell Conditions: Buy and sell conditions are identified based on crossovers between the RVI and its signal line.
Buy Signal: A buy condition is triggered when the RVI crosses above the signal line, provided that the "Bearish" condition (trend confirmation) is met.
Sell Signal: A sell condition occurs when the RVI crosses below the signal line, alongside the "Bullish" trend confirmation.
Volume-Weighted Moving Averages (VWMA): VWMA indicators are used to assess price-volume relationships over different timeframes:
Fast VWMA: A short-period volume-weighted moving average.
Slow VWMA: A longer-period volume-weighted moving average. These values are used to strengthen the buy and sell conditions by confirming trend directions (Bullish or Bearish).
Disclaimer: This is an educational and informational tool. Past performance is not indicative of future results. Always backtest before using in live markets
SuperATR 7-Step Profit - Strategy [presentTrading] Long time no see!
█ Introduction and How It Is Different
The SuperATR 7-Step Profit Strategy is a multi-layered trading approach that integrates adaptive Average True Range (ATR) calculations with momentum-based trend detection. What sets this strategy apart is its sophisticated 7-step take-profit mechanism, which combines four ATR-based exit levels and three fixed percentage levels. This hybrid approach allows traders to dynamically adjust to market volatility while systematically capturing profits in both long and short market positions.
Traditional trading strategies often rely on static indicators or single-layered exit strategies, which may not adapt well to changing market conditions. The SuperATR 7-Step Profit Strategy addresses this limitation by:
- Using Adaptive ATR: Enhances the standard ATR by making it responsive to current market momentum.
- Incorporating Momentum-Based Trend Detection: Identifies stronger trends with higher probability of continuation.
- Employing a Multi-Step Take-Profit System: Allows for gradual profit-taking at predetermined levels, optimizing returns while minimizing risk.
BTCUSD 6hr Performance
█ Strategy, How It Works: Detailed Explanation
The strategy revolves around detecting strong market trends and capitalizing on them using an adaptive ATR and momentum indicators. Below is a detailed breakdown of each component of the strategy.
🔶 1. True Range Calculation with Enhanced Volatility Detection
The True Range (TR) measures market volatility by considering the most significant price movements. The enhanced TR is calculated as:
TR = Max
Where:
High and Low are the current bar's high and low prices.
Previous Close is the closing price of the previous bar.
Abs denotes the absolute value.
Max selects the maximum value among the three calculations.
🔶 2. Momentum Factor Calculation
To make the ATR adaptive, the strategy incorporates a Momentum Factor (MF), which adjusts the ATR based on recent price movements.
Momentum = Close - Close
Stdev_Close = Standard Deviation of Close over n periods
Normalized_Momentum = Momentum / Stdev_Close (if Stdev_Close ≠ 0)
Momentum_Factor = Abs(Normalized_Momentum)
Where:
Close is the current closing price.
n is the momentum_period, a user-defined input (default is 7).
Standard Deviation measures the dispersion of closing prices over n periods.
Abs ensures the momentum factor is always positive.
🔶 3. Adaptive ATR Calculation
The Adaptive ATR (AATR) adjusts the traditional ATR based on the Momentum Factor, making it more responsive during volatile periods and smoother during consolidation.
Short_ATR = SMA(True Range, short_period)
Long_ATR = SMA(True Range, long_period)
Adaptive_ATR = /
Where:
SMA is the Simple Moving Average.
short_period and long_period are user-defined inputs (defaults are 3 and 7, respectively).
🔶 4. Trend Strength Calculation
The strategy quantifies the strength of the trend to filter out weak signals.
Price_Change = Close - Close
ATR_Multiple = Price_Change / Adaptive_ATR (if Adaptive_ATR ≠ 0)
Trend_Strength = SMA(ATR_Multiple, n)
🔶 5. Trend Signal Determination
If (Short_MA > Long_MA) AND (Trend_Strength > Trend_Strength_Threshold):
Trend_Signal = 1 (Strong Uptrend)
Elif (Short_MA < Long_MA) AND (Trend_Strength < -Trend_Strength_Threshold):
Trend_Signal = -1 (Strong Downtrend)
Else:
Trend_Signal = 0 (No Clear Trend)
🔶 6. Trend Confirmation with Price Action
Adaptive_ATR_SMA = SMA(Adaptive_ATR, atr_sma_period)
If (Trend_Signal == 1) AND (Close > Short_MA) AND (Adaptive_ATR > Adaptive_ATR_SMA):
Trend_Confirmed = True
Elif (Trend_Signal == -1) AND (Close < Short_MA) AND (Adaptive_ATR > Adaptive_ATR_SMA):
Trend_Confirmed = True
Else:
Trend_Confirmed = False
Local Performance
🔶 7. Multi-Step Take-Profit Mechanism
The strategy employs a 7-step take-profit system
█ Trade Direction
The SuperATR 7-Step Profit Strategy is designed to work in both long and short market conditions. By identifying strong uptrends and downtrends, it allows traders to capitalize on price movements in either direction.
Long Trades: Initiated when the market shows strong upward momentum and the trend is confirmed.
Short Trades: Initiated when the market exhibits strong downward momentum and the trend is confirmed.
█ Usage
To implement the SuperATR 7-Step Profit Strategy:
1. Configure the Strategy Parameters:
- Adjust the short_period, long_period, and momentum_period to match the desired sensitivity.
- Set the trend_strength_threshold to control how strong a trend must be before acting.
2. Set Up the Multi-Step Take-Profit Levels:
- Define ATR multipliers and fixed percentage levels according to risk tolerance and profit goals.
- Specify the percentage of the position to close at each level.
3. Apply the Strategy to a Chart:
- Use the strategy on instruments and timeframes where it has been tested and optimized.
- Monitor the positions and adjust parameters as needed based on performance.
4. Backtest and Optimize:
- Utilize TradingView's backtesting features to evaluate historical performance.
- Adjust the default settings to optimize for different market conditions.
█ Default Settings
Understanding default settings is crucial for optimal performance.
Short Period (3): Affects the responsiveness of the short-term MA.
Effect: Lower values increase sensitivity but may produce more false signals.
Long Period (7): Determines the trend baseline.
Effect: Higher values reduce noise but may delay signals.
Momentum Period (7): Influences adaptive ATR and trend strength.
Effect: Shorter periods react quicker to price changes.
Trend Strength Threshold (0.5): Filters out weaker trends.
Effect: Higher thresholds yield fewer but stronger signals.
ATR Multipliers: Set distances for ATR-based exits.
Effect: Larger multipliers aim for bigger moves but may reduce hit rate.
Fixed TP Levels (%): Control profit-taking on smaller moves.
Effect: Adjusting these levels affects how quickly profits are realized.
Exit Percentages: Determine how much of the position is closed at each TP level.
Effect: Higher percentages reduce exposure faster, affecting risk and reward.
Adjusting these variables allows you to tailor the strategy to different market conditions and personal risk preferences.
By integrating adaptive indicators and a multi-tiered exit strategy, the SuperATR 7-Step Profit Strategy offers a versatile tool for traders seeking to navigate varying market conditions effectively. Understanding and adjusting the key parameters enables traders to harness the full potential of this strategy.
Trend Levels [ChartPrime]The Trend Levels indicator is designed to identify key trend levels (High, Mid, and Low) during market trends, based on real-time calculations of highest, lowest, and mid-level values over a customizable length. Additionally, the indicator calculates trend strength by measuring the ratio of candles closing above or below the midline, providing a clear view of the ongoing trend dynamics and strength.
⯁ KEY FEATURES AND HOW TO USE
⯌ Trend Shift Signals :
Trend shifts, based on highest and lowest values during input length. When high is == to highest it will change trend to up when low == lowest value it will be shift to down trend.
// Calculate highest and lowest over the specified length
h = ta.highest(length)
l = ta.lowest(length)
// Determine trend direction: if the current high is the highest value, set trend to true
if h == high
trend := true
// If the current low is the lowest value, set trend to false
if l == low
trend := false
Whenever the trend changes direction (from uptrend to downtrend or vice versa), the indicator provides visual cues in the form of arrows. This gives traders clear signals to identify potential trend reversals, enabling them to adjust their strategies accordingly.
⯌ Trend Level Calculation :
As soon as a trend is detected (uptrend or downtrend), the indicator starts calculating the highest, lowest, and mid-level values over the defined period. These levels are plotted on the chart as color-coded lines for easy visualization, allowing traders to quickly spot the key levels within a trend.
⯌ Midline Retests :
Throughout the trend, the mid-level line is often retested, acting as a potential zone for pullbacks or rejections. Traders can use these retests as opportunities for entering positions or confirming trend continuation. The chart shows how price frequently interacts with the midline, helping to identify important reaction levels.
⯌ Trend Strength Calculation :
The indicator measures the trend strength by calculating the delta between the number of candles closing above and below the midline. This percentage-based delta is displayed in real-time, providing a clear indication of whether the trend is gaining or losing momentum.
⯁ USER INPUTS
Length : Specifies the lookback period for calculating the highest and lowest values, which determines the key trend levels.
Candle Counting : Measures the number of candles closing above and below the midline to calculate the trend strength delta.
⯁ CONCLUSION
The Trend Levels indicator provides traders with a powerful tool for visualizing trend dynamics, key levels of support and resistance, and real-time trend strength. By identifying midline retests, tracking candle counts, and providing trend shift signals, this indicator can help traders make well-informed decisions during market trends.
GoldenCross [OptionScalping]This indicator is based on Siva sir's GoldenCrossover. The original concept from Siva sir takes volume, and other parameters. However, this indicator only works on SuperTrend, VWMA, and VWAP cross as Siva sir suggested.
These signals are generated only on the first occurrence (after 9.30AM IST) of a day, unless the opposite signal comes.
Signals:
Buy Signal: The buy signal is generated when both the SuperTrend & VWMA crosses VWAP above. Either SuperTrend & VWMA can cross first, but when the second indicator crosses within 10 candles apart, the Buy Signal is generated.
Sell Signal: The sell signal is generated when both the SuperTrend & VWMA crosses VWAP below. Either SuperTrend & VWMA can cross first, but when the second indicator crosses within 10 candles apart, the Sell Signal is generated.
Trades:
You can take trades on a buy or sell signal. Once you have made an entry, if the market moves opposite direction, you can do a round of average so that you can exit on cost-to-cost.
The StopLoss should be just below VWAP.
DSL Strategy [DailyPanda]
Overview
The DSL Strategy by DailyPanda is a trading strategy that synergistically combines the idea from indicators to create a more robust and reliable trading tool. By integrating these indicators, the strategy enhances signal accuracy and provides traders with a comprehensive view of market trends and momentum shifts. This combination allows for better entry and exit points, improved risk management, and adaptability to various market conditions.
Combining ideas from indicators adds value by:
Enhancing Signal Confirmation : The strategy requires alignment between trend and momentum before generating trade signals, reducing false entries.
Improving Accuracy : By integrating price action with momentum analysis, the strategy captures more reliable trading opportunities.
Providing Comprehensive Market Insight : The combination offers a better perspective on the market, considering both the direction (trend) and the strength (momentum) of price movements.
How the Components Work Together
1. Trend Identification with DSL Indicator
Dynamic Signal Lines : Calculates upper and lower DSL lines based on a moving average (SMA) and dynamic thresholds derived from recent highs and lows with a specified offset. These lines adapt to market conditions, providing real-time trend insights.
ATR-Based Bands : Adds bands around the DSL lines using the Average True Range (ATR) multiplied by a width factor. These bands account for market volatility and help identify potential stop-loss levels.
Trend Confirmation : The relationship between the price, DSL lines, and bands determines the current trend. For example, if the price consistently stays above the upper DSL line, it indicates a bullish trend.
2. Momentum Analysis
RSI Calculation : Computes the RSI over a specified period to measure the speed and change of price movements.
Zero-Lag EMA (ZLEMA) : Applies a ZLEMA to the RSI to minimize lag and produce a more responsive oscillator.
DSL Application on Oscillator : Implements the DSL concept on the oscillator by calculating dynamic upper and lower levels. This helps identify overbought or oversold conditions more accurately.
Signal Generation : Detects crossovers between the oscillator and its DSL lines. A crossover above the lower DSL line signals potential bullish momentum, while a crossover below the upper DSL line signals potential bearish momentum.
3. Integrated Signal Filtering
Confluence Requirement : A trade signal is generated only when both the DSL indicator and oscillator agree. For instance, a long entry requires both an uptrend confirmation from the DSL indicator and a bullish momentum signal from the oscillator.
Risk Management Integration : The strategy uses the DSL indicator's bands for setting stop-loss levels and calculates take-profit levels based on a user-defined risk-reward ratio. This ensures that every trade has a predefined risk management plan.
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Originality and Value Added to the Community
Unique Synergy : While both indicators are available individually, this strategy is original in how it combines them to enhance their strengths and mitigate their weaknesses, offering a novel approach not present in existing scripts.
Enhanced Reliability : By requiring confirmation from both trend and momentum indicators, the strategy reduces false signals and increases the likelihood of successful trades.
Versatility : The customizable parameters allow traders to adapt the strategy to different instruments, timeframes, and trading styles, making it a valuable tool for a wide range of trading scenarios.
Educational Contribution : The script demonstrates an effective method of combining indicators for improved trading performance, providing insights that other traders can learn from and apply to their own strategies.
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How to Use the Strategy
Adding the Strategy to Your Chart
Apply the DSL Strategy to your desired trading instrument and timeframe on TradingView.
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Configuring Parameters
DSL Indicator Settings :
Length (len) : Adjusts the sensitivity of the DSL lines (default is 34).
Offset : Determines the look-back period for threshold calculations (default is 30).
Bands Width (width) : Changes the distance of the ATR-based bands from the DSL lines (default is 1).
DSL-BELUGA Oscillator Settings :
Beluga Length (len_beluga) : Sets the period for the RSI calculation in the oscillator (default is 10).
DSL Lines Mode (dsl_mode) : Chooses between "Fast" (more responsive) and "Slow" (smoother) modes for the oscillator's DSL lines.
Risk Management :
Risk Reward (risk_reward) : Defines your desired risk-reward ratio for calculating take-profit levels (default is 1.5).
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Interpreting Signals
Long Entry Conditions :
Trend Confirmation : Price is above the upper DSL line and the upper DSL band (dsl_up1 > dsl_dn).
Price Behavior : The last three candles have both their opens and closes above the upper DSL line.
Momentum Signal : The DSL-BELUGA oscillator crosses above its lower DSL line (up_signal), indicating bullish momentum.
Short Entry Conditions :
Trend Confirmation : Price is below the lower DSL line and the lower DSL band (dsl_dn < dsl_up1).
Price Behavior : The last three candles have both their opens and closes below the lower DSL band.
Momentum Signal : The DSL-BELUGA oscillator crosses below its upper DSL line (dn_signal), indicating bearish momentum.
Exit Conditions :
Stop-Loss : Automatically set at the DSL indicator's band level (upper band for longs, lower band for shorts).
Take-Profit : Calculated based on the risk-reward ratio and the initial risk determined by the stop-loss distance.
Visual Aids
Signal Arrows : Upward green arrows for long entries and downward blue arrows for short entries appear on the chart when conditions are met.
Stop-Loss and Take-Profit Lines : Red and green lines display the calculated stop-loss and take-profit levels for active trades.
Background Highlighting : The chart background subtly changes color to indicate when a signal has been generated.
Backtesting and Optimization
Use TradingView's strategy tester to backtest the strategy over historical data.
Adjust parameters to optimize performance for different instruments or market conditions.
Regularly review backtesting results to ensure the strategy remains effective.
Dema Percentile Standard DeviationDema Percentile Standard Deviation
The Dema Percentile Standard Deviation indicator is a robust tool designed to identify and follow trends in financial markets.
How it works?
This code is straightforward and simple:
The price is smoothed using a DEMA (Double Exponential Moving Average).
Percentiles are then calculated on that DEMA.
When the closing price is below the lower percentile, it signals a potential short.
When the closing price is above the upper percentile and the Standard Deviation of the lower percentile, it signals a potential long.
Settings
Dema/Percentile/SD/EMA Length's: Defines the period over which calculations are made.
Dema Source: The source of the price data used in calculations.
Percentiles: Selects the type of percentile used in calculations (options include 60/40, 60/45, 55/40, 55/45). In these settings, 60 and 55 determine percentile for long signals, while 45 and 40 determine percentile for short signals.
Features
Fully Customizable
Fully Customizable: Customize colors to display for long/short signals.
Display Options: Choose to show long/short signals as a background color, as a line on price action, or as trend momentum in a separate window.
EMA for Confluence: An EMA can be used for early entries/exits for added signal confirmation, but it may introduce noise—use with caution!
Built-in Alerts.
Indicator on Diffrent Assets
INDEX:BTCUSD 1D Chart (6 high 56 27 60/45 14)
CRYPTO:SOLUSD 1D Chart (24 open 31 20 60/40 14)
CRYPTO:RUNEUSD 1D Chart (10 close 56 14 60/40 14)
Remember no indicator would on all assets with default setting so FAFO with setting to get your desired signal.
Price Drop Marker Connecting pin (接插针)//@version=5
indicator("Price Drop Marker", overlay=true)
// 输入参数
percent_threshold = input.float(defval=-0.98, title="跌幅百分比阈值（%）", step=0.01) / 100
// 计算涨跌幅
price_drop = (close - open) / open
// 检查是否达到跌幅阈值
price_crosses_threshold = close <= (open * (1 + percent_threshold))
// 绘制绿色三角形符号
plotshape(series=price_crosses_threshold, style=shape.triangledown, location=location.belowbar, color=color.green, size=size.small, title="Drop")
// 显示涨跌幅（可选）
// 你可以选择显示涨跌幅百分比，然而这部分可能在实际使用中不太常用，所以它是可选的。
// plot(price_drop, title="Price Drop Percentage", color=color.blue, linewidth=2)
Blue Sniper Binary Options AlertsThis script is designed for the *Blue Sniper Strategy*, combining the 50 and 200 EMAs with advanced configurations of the UT Bot alerts to identify precise trade entry points during trending markets. The 50 and 200 EMAs provide a directional bias, while the UT Bot alerts trigger at specific price levels to help pinpoint optimal entry opportunities.
Key Features:
- Ideal for Trending Markets: Best suited for markets with clear trends rather than range-bound or consolidated phases.
- Versatile Applications: While optimized for binary options trading with Forex pairs, this script also supports other forms of scalp trading.
- High Probability Setups: When correctly applied, the Blue Sniper Strategy has been designed to achieve a potential 80% win rate by filtering entries that align with trend conditions.
Usage Tips:
To maximize accuracy, traders should assess market conditions before acting on alerts. Probability increases significantly when buy signals align with uptrends and sell signals with downtrends, but it may drop during ranging markets. This combination helps traders focus on high-probability setups that improve overall trading outcomes.
1_2_EMAs UT Bot AlertsThis indicator builds on the code by QuantNomad and others. It simply adds two EMAs that can be used to generate buy or sell alerts. The alerts will only be generated if price is below/above the EMAs which can minimize premature alerts across different time-frames.
Input Parameters:
a: This parameter controls the sensitivity of the trailing stop loss. A higher value will result in a wider stop loss.
c: This parameter determines the period for calculating the Average True Range (ATR), which is used to set the initial stop loss.
h: This parameter enables the use of Heikin Ashi candles, which can smooth out price action.
emaPeriod(s): This parameter sets the period for the Exponential Moving Averages (EMAs) used as an additional filter to trigger a buy or sell signals.
Basic average trend OscillatorCombination of multiple moving averages with signal aggregation and variable threshold settings for inputs.
Standard and Camarilla pivotsHi guys, I would like too introduce to all of you my script. As the name already tell you what this script is all about. It's about pivot points.
You may ask, Tradingview already have a script for pivot points, why would I need another script?
here is the answer: This script allow you to add more than one type of pivot, sounds good right?
But there's more: You can see not just one timeframe pivots, you can see many timeframe pivots, nice huh?
let dive into it to know a bit more.
In this script you can see daily pivots include Standard pivots as R1, R2, R3 and Camarilla pivots as cR1, cR2, cR3, and I you different color for different pivots, so you don't confuse between those two.
You can see weekly pivots the same as daily pivots only has letter "w" in front of it, for examples: "wR1, wR2, wcR1, wcR2" ,nice right?
What's about month level: yes, you can see monthly pivots too, and it start with "m".
Along with pivots points above, you also can see daily open, previous day close, previous high,.., for instances: daily open as "O", previous day open as "PDO",
You are able to see previous week level, previous month levels.
have fun.
I dont wanna lock this script because open-source script help me learn how to code pine script, so that's why I keep it open. Thank to all the coders out there that shared everything they have for us to learn.
MACD Cloud with Moving Average and ATR BandsThe algorithm implements a technical analysis indicator that combines the MACD Cloud, Moving Averages (MA), and volatility bands (ATR) to provide signals on market trends and potential reversal points. It is divided into several sections:
🎨 Color Bars:
Activated based on user input.
Controls bar color display according to price relative to ATR levels and moving average (MA).
Logic:
⚫ Black: Potential bearish reversal (price above the upper ATR band).
🔵 Blue: Potential bullish reversal (price below the lower ATR band).
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🟢 Green: Bullish trend (price between the MA and upper ATR band).
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🔴 Red: Bearish trend (price between the lower ATR band and MA).
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📊 MACD Bars:
Description:
The MACD Bars section is activated by default and can be modified based on user input.
🔴 Red: Indicates a bearish trend, shown when the MACD line is below the Signal line (Signal line is a moving average of MACD).
🔵 Blue: Indicates a bullish trend, shown when the MACD line is above the Signal line.
Matching colors between MACD Bars and MACD Cloud visually confirms trend direction.
MACD Cloud Logic: The MACD Cloud is based on Moving Average Convergence Divergence (MACD), a momentum indicator showing the relationship between two moving averages of price.
MACD and Signal Lines: The cloud visualizes the MACD line relative to the Signal line. If the MACD line is above the Signal line, it indicates a potential bullish trend, while below it suggests a potential bearish trend.
☁️ MA Cloud:
The MA Cloud uses three moving averages to analyze price direction:
Moving Average Relationship: Three MAs of different periods are plotted. The cloud turns green when the shorter MA is above the longer MA, indicating an uptrend, and red when below, suggesting a downtrend.
Trend Visualization: This graphical representation shows the trend direction.
📉 ATR Bands:
The ATR bands calculate overbought and oversold limits using a weighted moving average (WMA) and ATR.
Center (matr): Shows general trend; prices above suggest an uptrend, while below indicate a downtrend.
Up ATR 1: Marks the first overbought level, suggesting a potential bearish reversal if the price moves above this band.
Down ATR 1: Marks the first oversold level, suggesting a possible bullish reversal if the price moves below this band.
Up ATR 2: Extends the overbought range to an extreme, reinforcing the possibility of a bearish reversal at this level.
Down ATR 2: Extends the oversold range to an extreme, indicating a stronger bullish reversal possibility if price reaches here.
Español:
El algoritmo implementa un indicador de análisis técnico que combina la nube MACD, promedios móviles (MA) y bandas de volatilidad (ATR) para proporcionar señales sobre tendencias del mercado y posibles puntos de reversión. Se divide en varias secciones:
🎨 Barras de Color:
- Activado según la entrada del usuario.
- Controla la visualización del color de las barras según el precio en relación con los niveles de ATR y el promedio móvil (MA).
- **Lógica:**
- ⚫ **Negro**: Reversión bajista potencial (precio por encima de la banda superior ATR).
- 🔵 **Azul**: Reversión alcista potencial (precio por debajo de la banda inferior ATR).
- 🟢 **Verde**: Tendencia alcista (precio entre el MA y la banda superior ATR).
- 🔴 **Rojo**: Tendencia bajista (precio entre la banda inferior ATR y el MA).
### 📊 Barras MACD:
- **Descripción**:
- La sección de barras MACD se activa por defecto y puede modificarse según la entrada del usuario.
- 🔴 **Rojo**: Indica una tendencia bajista, cuando la línea MACD está por debajo de la línea de señal (la línea de señal es una media móvil de la MACD).
- 🔵 **Azul**: Indica una tendencia alcista, cuando la línea MACD está por encima de la línea de señal.
- La coincidencia de colores entre las barras MACD y la nube MACD confirma visualmente la dirección de la tendencia.
### 🌥️ Nube MACD:
- **Lógica de la Nube MACD**: Basada en el indicador de convergencia-divergencia de medias móviles (MACD), que muestra la relación entre dos medias móviles del precio.
- **Líneas MACD y de Señal**: La nube visualiza la relación entre la línea MACD y la línea de señal. Si la línea MACD está por encima de la de señal, indica una tendencia alcista potencial; si está por debajo, sugiere una tendencia bajista.
### ☁️ Nube MA:
- **Relación entre Medias Móviles**: Se trazan tres medias móviles de diferentes períodos. La nube se vuelve verde cuando la media más corta está por encima de la más larga, indicando una tendencia alcista, y roja cuando está por debajo, sugiriendo una tendencia bajista.
- **Visualización de Tendencias**: Proporciona una representación gráfica de la dirección de la tendencia.
### 📉 Bandas ATR:
- Las bandas ATR calculan límites de sobrecompra y sobreventa usando una media ponderada y el ATR.
- **Centro (matr)**: Muestra la tendencia general; precios por encima indican tendencia alcista y debajo, bajista.
- **Up ATR 1**: Marca el primer nivel de sobrecompra, sugiriendo una reversión bajista potencial si el precio sube por encima de esta banda.
- **Down ATR 1**: Marca el primer nivel de sobreventa, sugiriendo una reversión alcista potencial si el precio baja por debajo de esta banda.
- **Up ATR 2**: Amplía el rango de sobrecompra a un nivel extremo, reforzando la posibilidad de reversión bajista.
- **Down ATR 2**: Extiende el rango de sobreventa a un nivel extremo, sugiriendo una reversión alcista más fuerte si el precio alcanza esta banda.
DMI Delta by 0xjcfThis custom indicator combines DMI (Directional Movement Index) and ADX (Average Directional Index) with volume analysis to identify potential trading signals, especially when using divergence strategies between price action and the DMI Delta. The indicator also highlights extreme volume conditions to give you a clearer view of market sentiment. Here’s how to use it:
Key Features of the Indicator:
DMI Delta: The difference between the DI+ and DI- values measures directional movement and can indicate the strength of buying versus selling pressure.
Volume Oscillator: When DI+ (indicating upward momentum) is higher than DI-, the value is positive (bullish). When DI- is higher than DI+, the value is negative (bearish).
Volume Analysis and Extremes: The indicator shows whether the volume is unusually high (bullish or bearish spikes) or is just above or below the average for the lookback period. Extreme volume levels are highlighted in bright colors to signify potentially powerful moves.
How to Use the Indicator in a Divergence Strategy:
Look for Divergence: Use the DMI Delta histogram (displayed on the chart) to spot the divergence between price and directional momentum. For instance:
Bullish Divergence: If the price is making lower lows while the DMI Delta histogram is rising, it could signal a potential price reversal to the upside.
Bearish Divergence: If the price is making higher highs while the DMI Delta histogram is falling, this may signal a downside reversal.
Trending vs. Non-Trending Market:
The market is trending when the ADX is above the "Trending Threshold" (default is 25). A vital DMI Delta in a trending market (highlighted in green or red) can indicate that the trend will likely continue.
When ADX is below the threshold, the market may be non-trending or ranging. In this case, signals in blue or orange indicate weaker trends and could be used cautiously.
Volume-Based Highlights:
The indicator uses volume conditions to provide additional context to the DMI Delta signals.
Extreme Volume Spikes: These are highlighted in bright green (bullish) or red (bearish) when the current volume is significantly higher than the average (based on a customizable multiplier). Extreme volume spikes often occur near strong reversals or trend accelerations.
Switchable Visualizations:
The indicator includes a toggle to switch between “Volume Analysis” (showing volume intensity along with DMI Delta) and “Delta Highlight” (showing a background color based on DMI Delta and ADX). This flexibility allows you to focus on either volume conditions or directional signals, depending on your strategy.
Practical Tips:
Entry and Exit Signals: This indicator is most effective when combined with price action. Look for divergence between the price and DMI Delta histogram as a potential signal to enter or exit trades.
Adjust the Thresholds: The Trending Threshold and Volume Multiplier can be adjusted to suit different timeframes or trading styles, so consider optimizing these settings based on your backtesting results.
Color Key Summary:
Bright Green / Bright Red: Indicates extreme volume conditions aligned with bullish or bearish signals, often pointing to powerful moves.
Green or Red Shades: These shades signal trending strength based on ADX, with volume also considered. Green suggests a bullish trend, and red suggests a bearish trend.
Blue or Orange Shades: Signal weaker, non-trending conditions, which may be more relevant for traders interested in range-bound markets.
This indicator provides a comprehensive view of momentum and volume conditions, making it ideal for traders using divergence strategies. Remember to test different settings and confirm signals with price action before trading.
LH-Envelop[VivekSingh]LH-Envelop
Overview
This Pine Script creates an SMA-based indicator named "LH-Envelop" designed to help identify price trends and potential reversals. The indicator uses Gaussian smoothing and provides visual cues (labels and arrows) on price movements above or below computed envelopes.
Version and Author
Pine Script Version : v5
Author : Vivek Singh
Input Parameters
1. Bandwidth (h) "float" - Determines the Gaussian function's width for smoothing. Higher values lead to wider envelopes.
- Default: 8
- Min Value: 0
2. Multiplier (mult) "float" - Multiplies the smoothing error for envelope bounds calculation.
- Default: 3
- Min Value: 0
3. Source (src) "input" - Defines the input data source for calculations (default: "close" price).
4. Repainting Smoothing "boolean" - Controls whether the indicator recalculates historical output.
- Default: "true"
- Tooltip: "Disabling repainting will cause the indicator to output the endpoints of the calculations."
5. Styles
- upCss: Color setting for the upper band and cross signals.
- Default: Teal
- dnCss: Color setting for the lower band and cross signals.
- Default: Red
Functions
Gaussian Window("gauss(x, h)") : Computes a Gaussian smoothing weight for data point "x" based on "h" bandwidth.
Main Calculations and Indicator Logic
1. Initializing Lines
- Creates up to 500 lines, only initialized on the first bar and if repainting is enabled.
2. Envelope Calculation
- End-Point Method Computes envelope lines using Gaussian smoothing weights.
- If repainting is disabled, calculations use an "out" value based on the last 500 bars.
3. Moving Average Error (mae)
- Multiplies the absolute difference between the source and computed mean by the user-defined multiplier.
4. Upper and Lower Envelopes
- Calculated by adding and subtracting "mae" from the smoothed mean ("out").
5. Non-Repainting Weighted Estimate (NWE)
- Iterates through up to 500 bars to compute a weighted mean and adds dynamic labels based on cross signals.
6. Cross Signals
- Identifies when the price crosses over or under the computed envelopes and displays appropriate labels (▲ for crossunder, ▼ for crossover).
Visual Elements
- Lines Creates lines representing the envelope bounds with colors based on user-defined settings.
- Labels Highlights crossover and crossunder events, indicating possible reversal or trend continuation points.
- Dashboard Table Displays a message if repainting mode is enabled, placed at the top-right corner.
Plots and Shapes
- Envelop Boundaries
- "Upper": Upper boundary when repainting is disabled.
- "Lower": Lower boundary when repainting is disabled.
- Crossing Arrows
- Arrow shapes (▲, ▼) for crossunder/crossover events on the chart.
Usage Tips
- Use this indicator to observe potential entry or exit points when the price crosses the envelope boundaries.
- Adjust the "Bandwidth" and "Multiplier" values to modify the sensitivity of the envelopes to price fluctuations.
- Enabling the repainting option provides a more dynamic view, but keep in mind it recalculates historical values, which might affect interpretation.
