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Market Sessions Indicator by NomadTradesCustomisable Market session indicator This indicator visually marks the high and low price levels for the Asia, London, and New York trading sessions directly on the chart, using distinct horizontal lines and color-coding for each session. Each session’s high and low are labelled for easy identification, allowing traders to quickly assess key support and resistance levels established during major global market hours. The indicator is designed for clear session demarcation, helping users identify price reactions at these significant levels and supporting multi-session analysis for intraday and swing trading strategies
Pine Script® göstergesi
NomadTrades96 tarafından
Linear Regression Forecast (ADX Adaptive)Linear Regression Forecast (ADX Adaptive) This indicator is a dynamic price projection tool that combines multiple linear regression forecasts into a single, adaptive forecast curve. By integrating trend strength via the ADX and directional bias, it aims to visualize how price might evolve in different market environments—from strong trends to mean-reverting conditions. Core Concept: This tool builds forward price projections based on a blend of linear regression models with varying lookback lengths (from 2 up to a user-defined max). It then adjusts those projections using two key mechanisms: ADX-Weighted Forecast Blending In trending conditions (high ADX), the model follows the raw forecast direction. In ranging markets (low ADX), the forecast flips or reverts, biasing toward mean-reversion. A logistic transformation of directional bias, controlled by a steepness parameter, determines how aggressively this blending reacts to price behavior. Volatility Scaling The forecast’s magnitude is scaled based on ADX and directional conviction. When trends are unclear (low ADX or neutral bias), the projection range expands to reflect greater uncertainty and volatility. How It Works: Regression Curve Generation For each regression length from 2 to maxLength, a forward projection is calculated using least-squares linear regression on the selected price source. These forecasts are extrapolated into the future. Directional Bias Calculation The forecasted points are analyzed to determine a normalized bias value in the range -1 to +1, where +1 means strongly bullish, -1 means strongly bearish, and 0 means neutral. Logistic Bias Transformation The raw bias is passed through a logistic sigmoid function, with a user-defined steepness. This creates a probability-like weight that favors either following or reversing the forecast depending on market context. ADX-Based Weighting ADX determines the weighting between trend-following and mean-reversion modes. Below ADX 20, the model favors mean-reversion. Above 25, it favors trend-following. Between 20 and 25, it linearly blends the two. Blended Forecast Curve Each forecast point is blended between trend-following and mean-reverting values, scaled for volatility. What You See: Forecast Lines: Projected future price paths drawn in green or red depending on direction. Bias Plot: A separate plot showing post-blend directional bias as a percentage, where +100 is strongly bullish and -100 is strongly bearish. Neutral Line: A dashed horizontal line at 0 percent bias to indicate neutrality. User Inputs: -Max Regression Length -Price Source -Line Width -Bias Steepness -ADX Length and Smoothing Use Cases: Visualize expected price direction under different trend conditions Adjust trading behavior depending on trending vs ranging markets Combine with other tools for deeper analysis Important Notes: This indicator is for visualization and analysis only. It does not provide buy or sell signals and should not be used in isolation. It makes assumptions based on historical price action and should be interpreted with market context.
Pine Script® göstergesi
Tradenometry tarafından
MohdTZ - SUPER indicatorInspired by my mentor Paradise, I've developed a custom indicator that combines five powerful tools into one. This is especially designed for users who are using the free TradingView plan and are limited to a single indicator. With this all-in-one solution, you no longer have to compromise. The combined indicator includes: Paradise Money Noodle EMA 200 EMA 13 SuperTrend Indicator Watermark Labeling This setup brings clarity, efficiency, and power—all within a single script.
Pine Script® göstergesi
mohdtz tarafından
1
LTHB & HTLB Zones with AlertsIn price action trading, the Lowest Tick of the Highest Bar (LTHB) and the Highest Tick of the Lowest Bar (HTLB) are important concepts for support/resistance identification, trend exhaustion, and reversal confirmation. Here's what they mean and why they matter: 🔹 Definitions 1. Lowest Tick of the Highest Bar (LTHB): The lowest price (tick) of the bar (candlestick) with the highest high in a recent price swing. Significance: It marks the support inside an upward swing. If price breaks below this, it often indicates loss of upward momentum or reversal. 2. Highest Tick of the Lowest Bar (HTLB): The highest price of the bar with the lowest low in a swing. Significance: It acts as a resistance inside a downward swing. If price moves above this, it can signal a bullish reversal. 🔸 Why Are They Significant? Concept LTHB HTLB Trend Reversal - Break below LTHB → possible bearish reversal Break above HTLB → possible bullish reversal Swing Confirmation -Holding above LTHB → continuation of uptrend Holding below HTLB → continuation of downtrend Trap Detection - Stop hunts often occur just below LTHB Stop hunts often occur just above HTLB Risk Management -Acts as logical stop-loss in long trades Acts as logical stop-loss in short trades 🔸 Uses in Strategy 1. Breakout Traders use these levels as entry triggers. 2. Reversal Traders look for price failing to hold these levels for early reversal signs. 3. Structure-Based Traders use them to confirm higher highs/lower lows. 4. Stop Placement: Tight stops just beyond LTHB/HTLB help manage risk in swing trades. 🔔 How to Set Alerts in TradingView: Add the script to your chart. Open the "⚠️ Alerts" tab. Click "Create Alert". In the "Condition" dropdown, select one of: Enter LTHB Zone Exit LTHB Zone Enter HTLB Zone Exit HTLB Zone Set desired alert frequency (e.g., once per bar or once). Click Create.
Pine Script® göstergesi
navedkhanart tarafından
Confluence Pannel📊 RSI / MACD / ADX Info Panel — Indicator Overview This Pine Script v6 indicator is a compact visual dashboard that displays real-time insights from three popular technical indicators — RSI, MACD, and ADX — in a color-coded panel at the top-right of your TradingView chart. 🔍 What It Shows ✅ RSI (Relative Strength Index) Measures momentum and potential overbought/oversold conditions. Green background: RSI is above 50 (bullish momentum). Red background: RSI is below 50 (bearish momentum). Extra label: "OVER BOUGHT" if RSI > input threshold (default 70) "OVER SOLD" if RSI < input threshold (default 30) ✅ MACD (Moving Average Convergence Divergence) Indicates trend strength and direction. Green background: MACD line is above signal line → Bullish Red background: MACD line is below signal line → Bearish Label displays: "Bullish" or "Bearish" ✅ ADX (Average Directional Index) Measures the strength of the trend, not its direction. Background and label color changes: 🔴 Red: ADX < 20 → "Bad" (no trend) 🟠 Orange: 20 ≤ ADX < 25 → "Weak" (choppy trend) 🟢 Green: 25 ≤ ADX < 30 → "Good" (valid trend) 🔵 Blue: ADX ≥ 30 → "Best" (strong trend) 🧠 How to Use It Add to Chart: Paste the script into TradingView’s Pine Editor, click “Add to Chart,” and you’ll see a table appear in the top-right corner. Interpret Quickly: Use the panel to quickly assess: Is momentum building or fading? (RSI) Is there a trend direction? (MACD) Is the trend strong enough to trade? (ADX) Make Fast Trade Decisions: Look for all green/blue for optimal bullish conditions. Mixed colors may indicate range-bound or weakening setups. Use it as a confluence check before entering trades.
Pine Script® göstergesi
jhunt764 tarafından
AO + Stoch RSI Combined Key Features: Fixing hline Errors: Replaced hline(band_upper, ...) and hline(band_lower, ...) with plot(band_upper, ...) and plot(band_lower, ...) to support dynamic series float values, as hline requires constant input float. The middle band is plotted at 0 (matching AO’s zero line) using plot(0, ...) for consistency. Updated the fill function to use plot_upper and plot_lower instead of hline objects. Preserving AO’s Original Appearance: The AO histogram uses raw values (ao = ta.sma(hl2, 5) - ta.sma(hl2, 34)), centered around zero, with green (#009688) for rising bars and red (#F44336) for falling bars, matching the standard AO. Transparency (color.new(..., 50)) ensures K/D lines are visible when overlapping. A zero line is plotted at 0 for the classic AO look. Stoch RSI K/D Overlay: K/D lines are scaled to the AO’s range: k_scaled = (k - 50) * (ao_max / 50), centering them around zero and matching the AO histogram’s amplitude. Plotted with linewidth=3 for visibility, directly overlaying the histogram bars, “sitting” on them like MACD lines over the MACD histogram. MACD-Like Design: AO histogram is the base layer (plot.style_histogram), like the MACD histogram. Scaled K (blue, #2962FF) and D (orange, #FF6D00) lines overlap the histogram, resembling MACD’s line overlay. Stoch RSI bands are scaled (band_upper, band_lower) to the AO’s range and plotted dynamically, with a background fill between them. Same Plot Pane: AO histogram (raw), scaled K/D lines, scaled Stoch RSI bands, and zero line are plotted in the same pane, with K/D lines directly overlaid on the histogram. Awesome Oscillator (AO): Calculates AO as the difference between 5-period and 34-period SMAs of hl2. Plots raw histogram, colored based on ao_diff. Alerts for color changes and histogram state changes. Stochastic RSI: Calculates RSI (default length 14), Stochastic formula (default length 14), and smooths K (default 3) and D (default 3) with SMAs. Plots scaled K/D lines and dynamic bands (upper, lower). Alerts use original K/D values (0-100) for standard thresholds (20/80). Shorttitle: AO+StoRSI (9 characters), within the 10-character limit. Plots: All elements in a single pane, using color.new for Pine Script version 6 compatibility. Alerts: AO: Color changes and histogram state changes. Stochastic RSI: K crossing D, K exiting oversold (above 20), K entering overbought (below 80). Usage Instructions: Copy the script into TradingView’s Pine Script editor. Customize inputs (e.g., RSI length, Stochastic length, K/D smoothing) as needed. The AO histogram (original scale, centered at zero) and scaled Stoch RSI K/D lines will appear in the same plot pane, with K/D lines overlaid on the histogram bars in a MACD-like layout. Histogram transparency (50) and thicker K/D lines (linewidth=3) ensure readability. If the overlap is too cluttered, you can: Increase transparency (e.g., color.new(..., 70)). Adjust the K/D scaling factor (e.g., change ao_max / 50 to ao_max / 25). Set up alerts in TradingView for AO or Stoch RSI conditions.
Pine Script® göstergesi
mohdtz tarafından
Enhanced S/D Boring‑Explosive [v6]How to Use the Indicator Boring Candle: Yellow diamond below bar. Marks consolidation near S/D lines—watch for a breakout. Explosive Candle: Orange bar color and triangle above. Signals a potential move—entry on close (directional, filtered by MA). Supply/Demand Zones: Red (resistance/supply) and Lime (support/demand) dotted lines. Look for signals near these levels. Multi-TF Panel: Label at top shows higher time frame status (Explosive/Boring/Neutral). Use for confluence. Trading Logic Example: Entry: Buy: After a boring candle above EMA and near demand, next bar closes above boring high and EMA (explosive). Sell: Opposite. Stop-loss: Below/above the boring candle wick or nearest S/D zone. Take Profit: Fixed RR, or at next S/D level.
Pine Script® göstergesi
davidpersonalid tarafından
Volume VA with POC Based Percent DeviationsThis is a slightly different take on my previous version that plotted fibonacci retracement levels based on the POC to value area high/low. This indicator is also based on the volume value area that plots developing POC, VAH, and VAL as well as historical levels. However, instead of plotting fib levels, this script automatically projects percentage deviation levels from the current POC. This can help identify potential overextensions, target areas, or mean-reversion setups. Knowing where price is and the change in price relative to areas of interest can help identify true value and market imbalances. Hence the name VALUE AREA :) The percent deviation levels are dynamically plotted in relation to the developing POC. As POC shifts so do the % levels. Gradient Value Area Fill: Instead of a static color, the Value Area is filled with a dynamic gradient. The adjustable color and transparency shift is based on the current price's distance from the POC, giving you an intuitive feel for where price is relative to the POC. Enjoy! "May the fourth leaf bring you extra luck!" 🍀
Pine Script® göstergesi
ShamrockShane tarafından
MTF PO3 Big Candle By Rouro📊 MTF PO3 Big Candle By Rouro This indicator allows you to visualize candles from higher timeframes (HTF) directly on lower timeframe charts. It draws: 📉 Past candles from the selected HTF. 📈 A projected current candle of a chosen timeframe, extended to the right of the chart. It's ideal for traders who want to align decisions on lower timeframes with key HTF structures. ⚙️ Inputs & Configuration 🕐 Past Candle Timeframe Selects the timeframe to visualize historical candles. (e.g., 4H on a 5-minute chart) 📅 Projected Candle Timeframe Chooses the timeframe for the current (live) candle that is drawn to the right of the chart. (e.g., 1D) ➡️ Right Displacement (bars) Controls how far to the right the projected candle is drawn. 🟩 Bullish Body Color Defines the color of bullish candle bodies. 🟥 Bearish Body Color Defines the color of bearish candle bodies. 🔵 Wick Color Color of the high/low wicks. 🔲 Body Transparency (0–100) Controls the transparency of the candle body fill. 📌 Show Wicks Enables or disables drawing of the wicks on all candles. 💡 Notes If the projected candle is from a very large timeframe (e.g., 1D) and you are on a small timeframe (e.g., 5m), the projection length is limited to avoid overlapping the chart. All candle shapes update in real time. The indicator is optimized for performance and includes fail-safes for TradingView's limits. 💬 Support If you have any questions, feel free to ask in the comments. If this indicator has been useful or valuable for your trading, please leave a comment saying so — your feedback helps the community and supports the publication process. ✅ Compliant with TradingView’s house rules: No ads, sales, links, or misleading claims. 📌 This is a visual utility tool designed to support multi-timeframe analysis.
Pine Script® göstergesi
rouro33 tarafından
Market Cipher Style Divergence DetectorMarket Cipher B Divergence Indicator — Description This indicator is a custom implementation inspired by Market Cipher B, focusing on detecting bullish and bearish divergences between price action and a composite oscillator. Key Features: Composite Oscillator: Combines WaveTrend, RSI, and Stochastic RSI to mimic Market Cipher B’s momentum oscillator. Pivot Detection: Automatically identifies swing highs and lows in price to locate potential reversal points. Divergence Signals: Regular Bullish Divergence: Price forms lower lows while oscillator forms higher lows — indicating potential bullish reversal. Hidden Bullish Divergence: Price forms higher lows while oscillator forms lower lows — signaling continuation of an uptrend. Regular Bearish Divergence: Price forms higher highs while oscillator forms lower highs — signaling potential bearish reversal. Hidden Bearish Divergence: Price forms lower highs while oscillator forms higher highs — indicating continuation of a downtrend. Price Chart Alerts: Divergence signals are plotted directly on the price chart for easy visual identification. Customizable Pivot Lookbacks: User inputs allow tuning sensitivity for pivot detection and signal frequency. Oscillator Plot: The underlying oscillator is plotted for reference, providing insight into momentum strength. Intended Use: This tool is designed to help traders spot early trend reversals and continuations by identifying divergences, which are powerful signals often missed by simple momentum indicators alone. Note: As with any technical indicator, divergences should be confirmed with additional tools or price action analysis to reduce false signals.
Pine Script® göstergesi
vinothsridharpj tarafından
SOT & SA Detector ProSOT & SA Detector Pro- Advanced Reversal Pattern Recognition OVERVIEW The SOT & SA Detector is an educational indicator designed to identify potential market reversal points through systematic analysis of candlestick patterns, volume confirmation, and price wave structures. SOT (Shorting of Thrust) signals suggest potential bearish reversals after upward price movements, while SA (Selling Accumulation) signals indicate possible bullish reversals following downward trends. This tool helps traders recognize key market transition points by combining multiple technical criteria for enhanced signal reliability. ═══════════════════════════════════════════════════════════════ HOW IT WORKS Technical Methodology The indicator employs a multi-factor analysis approach that evaluates: Wave Structure Analysis: Identifies minimum 2-bar directional waves (upward for SOT, downward for SA) Price Delta Validation: Ensures closing price changes remain within specified percentage thresholds (default 0.3%) best 0.1. Candlestick Tail Analysis: Measures rejection wicks using configurable tail multipliers Volume Confirmation: Requires increased volume compared to previous periods Pattern Confirmation: Validates signals through subsequent price action Signal Generation Process Pattern Recognition: Scans for qualifying candlestick formations with appropriate tail characteristics Volume Verification: Confirms patterns with volume expansion using adjustable multiplier Price Confirmation: Validates signals when price breaks and closes beyond pattern extremes Signal Display: Places labeled markers and draws horizontal reference levels Mathematical Foundation Delta calculation: math.abs(close - close ) / close <= deltaPercent / 100 Tail analysis: (high - close ) >= tailMultiplier * (close - low ) for SOT Volume filter: volume >= volume * volumeFactor ═══════════════════════════════════════════════════════════════ KEY FEATURES Dual Pattern Recognition: Identifies both bullish (SA) and bearish (SOT) reversal candidates Volume Integration: Incorporates volume analysis for enhanced signal validation Customizable Parameters: Adjustable wave length, delta percentage, tail multiplier, and volume factor Visual Clarity: Color-coded bar highlighting, labeled signals, and horizontal reference levels Time-Based Filtering: Configurable analysis period to focus on recent market activity Non-Repainting Signals: Confirmed signals remain stable and do not change with new price data Alert System: Built-in notifications for both initial signals and subsequent confirmations ═══════════════════════════════════════════════════════════════ HOW TO USE Signal Interpretation Red SOT Labels: Appear above potential bearish reversal candles with downward-pointing markers Green SA Labels: Display below potential bullish reversal candles with upward-pointing markers Horizontal Lines: Extend from signal levels to provide ongoing reference points Bar Coloring: Highlights qualifying pattern candles for visual emphasis Trading Application This indicator serves as an educational tool for pattern recognition and should be used in conjunction with additional analysis methods. Consider SOT signals as potential areas of selling pressure following upward moves, while SA signals may indicate buying interest after downward price action. Best Practices Combine with trend analysis and support/resistance levels Consider overall market context and timeframe alignment Use proper risk management techniques Validate signals with additional technical indicators ═══════════════════════════════════════════════════════════════ SETTINGS Analysis Days (Default: 20) Controls the lookback period for signal detection. Higher values extend historical analysis while lower values focus on recent activity. Minimum Bars in Wave (Default: 2) Sets the minimum consecutive bars required to establish directional wave patterns. Increase for stronger trend confirmation. Max Close Change % (Default: 0.3) best 0.1. Defines acceptable closing price variation between consecutive bars. Lower values require tighter price consolidation. Tail Multiplier (Default: 1.0) best 1.5 or more. Adjusts sensitivity for candlestick tail analysis. Higher values require more pronounced rejection wicks. Volume Factor (Default: 1.0) Sets volume expansion threshold compared to previous period. Values above 1.0 require volume increases. ═══════════════════════════════════════════════════════════════ LIMITATIONS Market Conditions May produce false signals in highly volatile or low-volume conditions Effectiveness varies across different market environments and timeframes Requires sufficient volume data for optimal performance Signal Timing Signals appear after pattern completion, not in real-time during formation Confirmation signals depend on subsequent price action Historical signals do not guarantee future market behavior Technical Constraints Limited to analyzing price and volume data only Does not incorporate fundamental analysis or external market factors Performance may vary significantly across different trading instruments ═══════════════════════════════════════════════════════════════ IMPORTANT DISCLAIMERS This indicator is designed for educational purposes and technical analysis learning. It does not constitute financial advice, investment recommendations, or trading signals. Past performance does not guarantee future results. Trading involves substantial risk of loss, and this tool should be used alongside proper risk management techniques and additional analysis methods. Always conduct thorough analysis using multiple indicators and consider market context before making trading decisions. The SOT & SA patterns represent potential reversal points but do not guarantee price direction changes. ═══════════════════════════════════════════════════════════════ Credits: Original concept and Pine Script implementation by Everyday_Trader_X Version: Pine Script v6 compatible Category: Technical Analysis / Reversal Detection Overlay: Yes (displays on price chart)
Pine Script® göstergesi
Everyday_Trader_X tarafından
Body GapsThis script is a customized version based on TradingView’s official “Gaps” indicator. The original version detects gaps using the distance between highs and lows of consecutive bars. In contrast, this script introduces a refined definition of gaps by focusing strictly on real body gaps—price zones where the open and close of two consecutive candles do not overlap. Additionally, the gap closure logic has been enhanced: Instead of checking for simple wick penetration, a gap is only marked as closed when the closing price fully re-enters the gap zone, ensuring a more reliable and practical interpretation for traders.
Pine Script® göstergesi
chingyu_ku tarafından
Momentum ScopeOverview Momentum Scope is a Pine Script™ v6 study that renders a –1 to +1 momentum heatmap across up to 32 lookback periods in its own pane. Using an Augmented Relative Momentum Index (ARMI) and color shading, it highlights where momentum strengthens, weakens, or stays flat over time—across any asset and timeframe. Key Features Full-Spectrum Momentum Map : Computes ARMI for 1–32 lookbacks, indexed from –1 (strong bearish) to +1 (strong bullish). Flexible Scale Gradation : Choose Linear or Exponential spacing, with adjustable expansion ratio and maximum depth. Trending Bias Control : Apply a contrast-style curve transform to emphasize trending vs. mean-reverting behavior. Duotone & Tritone Palettes : Select between two vivid color styles, with user-definable hues for bearish, bullish, and neutral momentum. Compact, Overlay-Free Display : Renders solely in its own pane—keeping your price chart clean. Inputs & Customization Scale Gradation : Linear or Exponential spacing of intervals Scale Expansion : Ratio governing step-size between successive lookbacks Scale Maximum : Maximum lookback period (and highest interval) Trending Bias : Curve-transform bias to tilt the –1 … +1 grid Color Style : Duotone or Tritone rendering modes Reducing / Increasing / Neutral Colors : Pick your own hues for bearish, bullish, and flat zones How to Use Add to Chart : Apply “Momentum Scope” as a separate indicator. Adjust Scale : For exponential spacing, switch your indicator Y-axis to Logarithmic . Set Bias & Colors : Tweak Trending Bias and choose a palette that stands out on your layout. Interpret the Heatmap : Red tones = weakening/bearish momentum Green tones = strengthening/bullish momentum Neutral hues = indecision or flat momentum Copyright © 2025 MVPMC. Licensed under MIT. For full license see opensource.org
Pine Script® göstergesi
MVPMC tarafından
Coffee Box Ninja- Time zone and automatic box for the COFFEE BOX strategy based on New York time. - Auto update for summer and winter time -------------------------------------------------------------------------------------- - Rango de horarios y caja automatica para la estrategia COFFEE BOX basado en horarios de Nueva York. - Actualizacion automatica horario de verano en invierno ------------------------------------------------------------------------------------- Wyckoff Ninja 🥷🏼 linktr.ee This indicator highlights a specific time range during the New York trading session by drawing a dynamic box that captures the high and low between the defined start and end times. It is useful for identifying price ranges during important market windows, such as the "coffee time" box from 8:30 AM to 10:00 AM (NY time). The box updates as the session progresses and finalizes when the range ends.
Pine Script® göstergesi
Wyckoff_Ninja tarafından
MACD-VWAP-BB Oscillator with DivergenceHow to Use the Indicator for Trading Here’s how to interpret and use the indicator’s signals as a beginner: Look for Buy Signals: Green Triangle Up (“BUY”): Appears when MACD, VWAP, and Bollinger Bands all signal a strong bullish trend. The ribbon turns green, and the background fill is green. Action: Consider buying the asset, as this is a strong signal the price may rise. Example: If you see a green triangle on a 1-hour chart for BTC/USD, it suggests a potential upward move. Green Circle (“Div Buy”): Indicates a bullish divergence, where the price is dropping, but the indicator suggests the downtrend may weaken or reverse. This is a weaker signal than the triangle but can be an early warning of a trend change. Action: Watch closely or consider a smaller buy position, especially if followed by a triangle signal. Look for Sell Signals: Red Triangle Down (“SELL”): Appears when all three indicators signal a strong bearish trend. The ribbon turns red, and the background fill is red. Action: Consider selling or shorting the asset, as the price may fall. Example: A red triangle on a stock chart suggests it’s time to exit a long position or go short. Red Circle (“Div Sell”): Indicates a bearish divergence, where the price is rising, but the indicator suggests the uptrend may weaken or reverse. Action: Be cautious with long positions or consider preparing to sell, especially if a triangle signal follows. Check the Ribbon and Background: Green Ribbon and Fill: Confirms a bullish trend. Feel more confident in buy signals. Red Ribbon and Fill: Confirms a bearish trend. Feel more confident in sell signals. The ribbon’s spread (how far apart the lines are) shows trend strength: wider = stronger trend, tighter = weaker trend. Use Divergence Signals for Early Warnings: Divergence signals (circles) often appear before triangle signals, hinting at potential reversals. Example: A green circle (“Div Buy”) on a downtrending chart suggests the price might stop falling soon. Wait for a green triangle to confirm before acting. Choose a Timeframe: Short-term traders (day trading): Use shorter timeframes like 5-minute, 15-minute, or 1-hour charts. Swing traders: Use 4-hour or daily charts for signals that last days or weeks. Long-term investors: Use daily or weekly charts for bigger trends. Example: On a 4-hour chart, a green triangle might signal a trend lasting hours to days. Combine with Price Action: Don’t rely on the indicator alone. Look at the candlesticks: Are there support/resistance levels nearby? Is the price near a key level (e.g., a moving average or trendline)? Use the indicator to confirm what you see in the price chart. Risk Management: Set Stop-Losses: Place a stop-loss below recent lows for buys or above recent highs for sells to limit losses. Position Sizing: Only risk a small portion of your account (e.g., 1-2%) per trade. Wait for Confirmation: Triangle signals are stronger than divergence signals. Consider waiting for a triangle before entering a trade, especially as a beginner. Example Trading Scenario Let’s say you’re trading EUR/USD on a 1-hour chart: You see a green circle (“Div Buy”) at the bottom of the indicator panel, and the price is near a support level (a price where it stopped falling before). This suggests a potential reversal, but it’s not confirmed yet. Action: Watch closely but don’t enter a trade yet. A few candles later, a green triangle (“BUY”) appears, the ribbon turns green, and the background fill is green. This confirms a strong bullish signal (MACD, VWAP, and Bollinger Bands all agree). Action: Enter a buy trade, set a stop-loss below the recent low, and aim for a target near a resistance level or a 1:2 risk-reward ratio. Later, you see a red circle (“Div Sell”) while the price is still rising. This warns that the uptrend might weaken. Action: Tighten your stop-loss or prepare to exit if a red triangle appears. A red triangle (“SELL”) appears, with the ribbon and fill turning red. Action: Exit the buy trade or consider a short position. Tips for Beginners Start with a Demo Account: Practice using the indicator on a TradingView paper trading account or a broker’s demo account to avoid risking real money. Test on Different Assets: Try the indicator on stocks, forex, or crypto to see where it performs best. Avoid Overtrading: Wait for clear triangle signals for stronger trades. Divergence signals (circles) are less reliable, so use them as warnings. Learn Basic Chart Patterns: Combine the indicator with simple patterns like support/resistance or candlestick patterns (e.g., pin bars) for better results. Adjust Settings Carefully: The default settings (e.g., MACD 12,26,9; ribbon 8,13,21,34) are balanced, but you can tweak them in the indicator settings to match your trading style. Common Questions What timeframe should I use? It depends on your trading style. Day traders might use 5-minute or 1-hour charts; swing traders might use 4-hour or daily charts. Test different timeframes to find what suits you. Are divergence signals reliable? Divergence signals (green/red circles) are early warnings and less reliable than triangle signals. Use them to prepare for a trade but wait for triangles for confirmation. Can I use this on any asset? Yes! It works on stocks, forex, crypto, or commodities. Adjust settings like pivotLookback or smoothWavy for volatile assets like crypto. What if I see conflicting signals? If a green circle appears but no green triangle, the trend isn’t confirmed yet. Wait for alignment of all indicators (triangle signal) for stronger trades. How to Customize (Optional) If you want to tweak the indicator: Open the indicator settings (double-click its name on the chart). Adjust Pivot Lookback for Divergence (default 5) to make divergence signals more frequent (smaller number) or less frequent (larger number). Change Signal Line Smoothing Period (default 9) for a smoother or wavier signal line. Modify EMA Ribbon Periods (default 8,13,21,34) for a tighter or wider ribbon.
Pine Script® göstergesi
TradingRobotAvailable tarafından