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[SlawaF] Money Flow Oscillator (MFO)The Money Flow Oscillator (MFO) is a technical indicator that measures the strength of money flow in and out of a security by analyzing price and volume. It helps identify overbought and oversold conditions, similar to the RSI but with a stronger emphasis on volume. Key Features: Length (14 default) – The lookback period for calculating money flow. Smoothing Period (9 default) – Applies an SMA to smooth the oscillator for cleaner signals. Gradient Mode – When enabled, the line changes color based on value (green at lower levels, red at higher levels). Custom Line Color – If gradient is disabled, a user-defined color is used. Overbought/Oversold Levels – Horizontal lines at 80 (overbought) and 20 (oversold). How It Works: Typical Price is calculated as (High + Low + Close) / 3. Raw Money Flow is Typical Price × Volume. Positive & Negative Money Flow are summed over the selected period. Money Flow Ratio compares buying vs. selling pressure. MFO converts the ratio into a 0-100 oscillator. Smoothing is applied via SMA for refined signals. Usage: Overbought (>80) – Potential selling opportunity. Oversold (<20) – Potential buying opportunity. Trend Confirmation – Rising MFO suggests bullish momentum, while falling MFO indicates bearish pressure. Money Flow Oscillator (MFO) – это технический индикатор, который оценивает силу притока и оттока денежных средств на основе цены и объема. Он помогает определять состояния перекупленности и перепроданности, аналогично RSI, но с большим акцентом на объем. Основные параметры: Длина (14 по умолчанию) – Период расчета денежного потока. Сглаживание SMA (9 по умолчанию) – Скользящая средняя для сглаживания осциллятора. Градиент – Если включен, цвет линии меняется от зеленого (низкие значения) до красного (высокие). Цвет линии без градиента – Пользовательский цвет, если градиент отключен. Уровни перекупленности/перепроданности – Горизонтальные линии на 80 (перекупленность) и 20 (перепроданность). Принцип работы: Типичная цена = (High + Low + Close) / 3. Сырой денежный поток = Типичная цена × Объем. Положительный и отрицательный потоки суммируются за выбранный период. Отношение денежных потоков сравнивает давление покупателей и продавцов. MFO преобразует отношение в осциллятор 0-100. Сглаживание SMA улучшает качество сигналов. Как использовать: Перекупленность (>80) – Возможность продажи. Перепроданность (<20) – Возможность покупки. Подтверждение тренда – Рост MFO указывает на бычий импульс, падение – на медвежий.
Pine Script® indicator
by SlawaF
30-70 RSI Strategy with Colored BarThis script colors price bars based on Relative Strength Index (RSI) levels, giving traders a quick and visual way to assess overbought or oversold market conditions directly on the chart. 📈 Key Features: ✅ RSI-Based Bar Coloring: Green bars when RSI is above the upper threshold (default 70) – suggests bullish momentum. Red bars when RSI is below the lower threshold (default 30) – indicates bearish pressure. Bars remain uncolored when RSI is between thresholds – a neutral zone. 🔧 Customizable RSI Settings: Adjustable RSI length (default: 14 periods) Adjustable overbought/oversold levels (default: 70/30) 🧠 Helps traders: Quickly spot potential reversals or trend continuations Visually align price action with momentum 🛠️ Usage: Ideal for trend-following, reversal, and momentum strategies. Works across any timeframe (1m, 5m, 1h, daily, etc.).
Pine Script® strategy
by khetiajay
The Adam Khoo Magic with Williams %RTotally inspired by Adam Khoo's analogy This is meant for the monthly bar: Where you try to find the highest point of the average recession/correction time to the bottom: average correction time to bottom: 4.2months average bear market time to bottom: 13months (default) Plot/Fill chart with the 4 tranches recommended: -8%, -15%, -21% and -35% to gauge entry point Changed that hardcoded timeframe to follow the dynamic highlength Added new way of how Adam predicts potential bottom by looking at Williams %R 52 & 13.
Pine Script® indicator
by BarryShooshooga
Global M2 by Colin Talks Crypto // Days Offset =// This Pine Script® code is subject to the terms of the Mozilla Public License //@version=6 indicator(title = "Global M2 10-Week Lead (for bitcoin)", shorttitle = 'Global M2', overlay=true, scale=scale.left) // Slide weeks input (in weeks) slide_weeks = input.int(defval=10, title="Slide Weeks Forward", minval=0, maxval=52, tooltip="Number of weeks to slide the indicator forward") // Enable settings for each country's M2 usa_active = input(true, title = "USM2 (USA Money Supply)") europe_active = input(true, title = "EUM2 (Eurozone Money Supply)") china_active = input(true, title = "CNM2 (China Money Supply)") japan_active = input(true, title = "JPM2 (Japan Money Supply)") uk_active = input(true, title = "UKM2 (United Kingdom Money Supply)") canada_active = input(true, title = "CAM2 (Canada Money Supply)") australia_active = input(true, title = "AUM3 (Australia Money Supply)") india_active = input(true, title = "INM2 (India Money Supply)") korea_active = input(true, title = "KRM2 (South Korea Money Supply)") brazil_active = input(true, title = "BRM2 (Brazil Money Supply)") russia_active = input(true, title = "RUM2 (Russia Money Supply)") switzerland_active = input(true, title = "CHM2 (Switzerland Money Supply)") mexico_active = input(true, title = "MXM2 (Mexico Money Supply)") indonesia_active = input(true, title = "IDM2 (Indonesia Money Supply)") turkey_active = input(true, title = "TRM2 (Turkey Money Supply)") saudi_active = input(true, title = "SAM2 (Saudi Arabia Money Supply)") argentina_active = input(true, title = "ARM2 (Argentina Money Supply)") southafrica_active = input(true, title = "ZAM2 (South Africa Money Supply)") // Daily timeframe for economic data tf = "D" // Get M2 data for each country and convert to USD us_m2 = usa_active ? request.security("ECONOMICS:USM2", tf, close) : 0 eu_m2 = europe_active ? request.security("ECONOMICS:EUM2", tf, close) * request.security("FX_IDC:EURUSD", tf, close) : 0 china_m2 = china_active ? request.security("ECONOMICS:CNM2", tf, close) * request.security("FX_IDC:CNYUSD", tf, close) : 0 japan_m2 = japan_active ? request.security("ECONOMICS:JPM2", tf, close) * request.security("FX_IDC:JPYUSD", tf, close) : 0 uk_m2 = uk_active ? request.security("ECONOMICS:GBM2", tf, close) * request.security("FX_IDC:GBPUSD", tf, close) : 0 canada_m2 = canada_active ? request.security("ECONOMICS:CAM2", tf, close) * request.security("FX_IDC:CADUSD", tf, close) : 0 australia_m2 = australia_active ? request.security("ECONOMICS:AUM3", tf, close) * request.security("FX_IDC:AUDUSD", tf, close) : 0 india_m2 = india_active ? request.security("ECONOMICS:INM2", tf, close) * request.security("FX_IDC:INRUSD", tf, close) : 0 korea_m2 = korea_active ? request.security("ECONOMICS:KRM2", tf, close) * request.security("FX_IDC:KRWUSD", tf, close) : 0 brazil_m2 = brazil_active ? request.security("ECONOMICS:BRM2", tf, close) * request.security("FX_IDC:BRLUSD", tf, close) : 0 russia_m2 = russia_active ? request.security("ECONOMICS:RUM2", tf, close) * request.security("FX_IDC:RUBUSD", tf, close) : 0 switzerland_m2 = switzerland_active ? request.security("ECONOMICS:CHM2", tf, close) * request.security("FX_IDC:CHFUSD", tf, close) : 0 mexico_m2 = mexico_active ? request.security("ECONOMICS:MXM2", tf, close) * request.security("FX_IDC:MXNUSD", tf, close) : 0 indonesia_m2 = indonesia_active ? request.security("ECONOMICS:IDM2", tf, close) * request.security("FX_IDC:IDRUSD", tf, close) : 0 turkey_m2 = turkey_active ? request.security("ECONOMICS:TRM2", tf, close) * request.security("FX_IDC:TRYUSD", tf, close) : 0 saudi_m2 = saudi_active ? request.security("ECONOMICS:SAM2", tf, close) * request.security("FX_IDC:SARUSD", tf, close) : 0 argentina_m2 = argentina_active ? request.security("ECONOMICS:ARM2", tf, close) * request.security("FX_IDC:ARSUSD", tf, close) : 0 southafrica_m2 = southafrica_active ? request.security("ECONOMICS:ZAM2", tf, close) * request.security("FX_IDC:ZARUSD", tf, close) : 0 // Calculate total liquidity (In Trillions USD) total = (us_m2 + eu_m2 + china_m2 + japan_m2 + uk_m2 + canada_m2 + australia_m2 + india_m2 + korea_m2 + brazil_m2 + russia_m2 + switzerland_m2 + mexico_m2 + indonesia_m2 + turkey_m2 + saudi_m2 + argentina_m2 + southafrica_m2) / 1000000000000 // Calculate minutes per bar based on timeframe var float minutes_per_bar = 0 if timeframe.isminutes minutes_per_bar := timeframe.multiplier * 1 else if timeframe.isdaily minutes_per_bar := timeframe.multiplier * 1440 // 1440 minutes = 1 day else if timeframe.isweekly minutes_per_bar := timeframe.multiplier * 10080 // 10080 minutes = 1 week else if timeframe.ismonthly minutes_per_bar := timeframe.multiplier * 43200 // 43200 minutes ≈ 1 month (30 days) // Convert weeks to bars: (weeks * days/week * minutes/day) / minutes_per_bar bars_offset = math.round(slide_weeks * 7 * 1440 / minutes_per_bar) // Plot total liquidity with dynamic offset plot(total, offset=bars_offset, color=color.blue, linewidth=2)
Pine Script® indicator
by officialcryptoboi
SBC ProtfoSBC Portfo PNL Indicator Description The SBC Portfo PNL Indicator is a powerful and user-friendly tool designed specifically for Hebrew-speaking traders to track the Profit and Loss (PNL) of their stock portfolios directly on TradingView charts. This indicator allows users to manage up to **5 distinct portfolios**, each capable of holding an **unlimited number of stocks** with **unlimited buy commands**. It provides a seamless way to input and analyze purchase data, making it ideal for traders who want to monitor their portfolio performance in real-time. Key Features - **Multi-Portfolio Support**: Create and track up to 5 separate portfolios, allowing flexibility for different trading strategies or accounts. - **Unlimited Stock Entries**: Each portfolio can include an unlimited number of stocks, with no restrictions on the number of buy commands per stock. - **Detailed Buy Commands**: For each stock, input the following data: - **Stock Ticker**: The symbol of the stock (e.g., `AAPL`, `TSLA`). - **Buy Price**: The price at which the stock was purchased (e.g., `150.25`). - **Buy Amount**: The quantity of shares purchased (e.g., `10`). - **Hebrew-Friendly Interface**: Designed with Hebrew-speaking users in mind, ensuring intuitive navigation and clear instructions in the TradingView settings dialog. - **Customizable PNL Tracking**: Visualize the profit and loss of your portfolios directly on your TradingView charts, with real-time updates based on market data. How to Use 1. **Add the Indicator**: - Open TradingView, go to the chart, and add the "SBC Portfo PNL Indicator" from the Indicators menu. 2. **Configure Portfolios**: - Open the indicator’s settings dialog. - For each portfolio (up to 5), manually enter the portfolio data in the provided input fields using the following format: ``` PortfolioName:StockTicker:BuyPricexBuyAmount;StockTicker:BuyPricexBuyAmount ``` **Example**: ``` Portfolio1:AAPL:150.25x10;TSLA:266.72x5 ``` - This example represents a portfolio named "Portfolio1" with two buy commands: - 10 shares of AAPL bought at $150.25. - 5 shares of TSLA bought at $266.72. - Repeat for additional portfolios (e.g., `Portfolio2`, `Portfolio3`, etc.), each in its own input field. - You can add multiple buy commands for the same stock within a portfolio by including additional entries (e.g., `AAPL:160.50x20`). 3. **Apply Settings**: - Save the settings to apply the portfolio data to the chart. - The indicator will calculate and display the PNL based on the current market prices of the entered stocks. 4. **Monitor PNL**: - View the profit and loss for each portfolio directly on the chart, with customizable display options (e.g., table, labels, or graphical overlays, depending on indicator settings). ## Input Format Each portfolio’s data must be entered manually in the indicator’s settings dialog, with one input field per portfolio. The format is as follows: ``` PortfolioName:StockTicker:BuyPricexBuyAmount;StockTicker:BuyPricexBuyAmount ``` - **PortfolioName**: A unique name for the portfolio (e.g., `Portfolio1`, `Growth`, `Tech`). - **StockTicker**: The stock symbol (e.g., `AAPL`, `GOOGL`). - **BuyPrice**: The purchase price per share (e.g., `150.25`). - **BuyAmount**: The number of shares purchased (e.g., `10`). - **Separator**: Use `:` to separate portfolio name, ticker, and buy data; `x` to separate price and amount; and `;` to separate multiple stock entries. **Example Input for Multiple Portfolios**: - Portfolio 1: ``` GrowthPortfolio:AAPL:150.25x10;TSLA:266.72x5;MSFT:305.10x8 ``` - Portfolio 2: ``` DividendPortfolio:KO:55.20x50;PG:145.30x30 ``` Companion Tool To simplify portfolio management, use the **SBC Portfo Manager** desktop app (available separately). This tool allows Hebrew-speaking users to create, edit, and export portfolio data in the correct format, which can then be copied and pasted into the indicator’s settings. Note: The SBC Portfo Manager is an independent tool and not affiliated with TradingView. Notes - **Hebrew Support**: Instructions and labels in the settings dialog are optimized for Hebrew users, ensuring clarity and ease of use. - **Unlimited Flexibility**: Add as many stocks and buy commands as needed per portfolio, with no upper limit. - **Manual Input**: Portfolio data must be entered manually in the settings dialog. Ensure the format is correct to avoid errors. - **Compatibility**: Works with any stock ticker supported by TradingView. Disclaimer The SBC Portfo PNL Indicator is an independent tool created to assist Hebrew-speaking traders in tracking portfolio performance. It is **not** affiliated with TradingView. Always verify your portfolio data and consult with a financial advisor before making trading decisions. Support For questions, issues, or feature requests, please contact the developer via TradingView or check the (github.com) for additional resources. License This indicator is provided under the Attribution-NonCommercial 4.0 International license. Please review the terms on the GitHub repository or contact the developer for details.
Pine Script® indicator
by shay_private
BTC Breakout Alert📈 BTC Breakout & Fakeout Detector with Volume, RSI & MACD Filters This script helps identify high-confidence breakout setups by combining price action, volume spikes, and optional momentum filters (RSI & MACD). It’s designed to alert you when Bitcoin (or any asset) breaks above a defined resistance level with strong conviction — and warns you if that move turns out to be a fakeout. 🔍 Features: ✅ Confirmed Breakout Alerts: Triggers when price closes above your set resistance level with volume ≥ 1.5× the 20-period average. ⚠️ Fakeout Detection: Highlights when price closes back below resistance within a few candles after breakout. 📊 Momentum Filters: RSI > 50 for bullish confirmation MACD line > signal line to support breakout momentum 🔔 Custom Alerts: Built-in alert conditions for both breakout and fakeout events. 🔼🔽 Visual Markers: Arrows plotted directly on the chart for clear entry and caution zones. 🕒 Works on all timeframes and any asset that includes volume data. Ideal for breakout traders who want more than just a price spike — this tool ensures volume and momentum alignment, helping you reduce false signals and react with more confidence.
Pine Script® indicator
by Clurker
Wick Ratio IndicatorScript Description: Wick Ratio Indicator This Pine Script indicator identifies candlesticks with dominant upper or lower wicks and visually marks them on the chart. It helps traders spot potential price rejection signals, often used to anticipate trend reversals or breakout opportunities. Key Features Wick Length Calculation Upper Wick: high - max(open, close) (Measures distance from the highest price to the candle body's top) Lower Wick: min(open, close) - low (Measures distance from the candle body's bottom to the lowest price) Comparison Logic Green Triangle (▲): Plotted above the candle when the upper wick is longer (bearish rejection signal). Red Triangle (▼): Plotted below the candle when the lower wick is longer (bullish rejection signal). Visual Simplicity Non-intrusive design that overlays directly on price action. Customizable colors and sizes (modifiable in settings).
Pine Script® indicator
by AssetExpertise
Multiple (12) Strong Buy/Sell Signals + Momentum Indicator Manual: "Multiple (12) Strong Buy/Sell Signals + Momentum" This indicator is designed to identify strong buy and sell signals based on 12 configurable conditions, which include a variety of technical analysis methods such as trend-following indicators, pattern recognition, volume analysis, and momentum oscillators. It allows for customizable alerts and visual cues on the chart. The indicator helps traders spot potential entry and exit points by displaying buy and sell signals based on the selected conditions. Key Observations: • The script integrates multiple indicators and pattern recognition methods to provide comprehensive buy/sell signals. • Trend-based indicators like EMAs and MACD are combined with pattern recognition (flags, triangles) and momentum-based signals (RSI, ADX, and volume analysis). • User customization is a core feature, allowing adjustments to the conditions and thresholds for more tailored signals. • The script is designed to be responsive to market conditions, with multiple conditions filtering out noise to generate reliable signals. ________________________________________ Key Features: 1. 12 Combined Buy/Sell Signal Conditions: This indicator incorporates a diverse set of conditions based on trend analysis, momentum, and price patterns. 2. Minimum Conditions Input: You can adjust the threshold of conditions that need to be met for the buy/sell signals to appear. 3. Alert Customization: Set alert thresholds for both buy and sell signals. 4. Dynamic Visualization: Buy and sell signals are shown as triangles on the chart, with momentum signals highlighted as circles. ________________________________________ Detailed Description of the 12 Conditions: 1. Exponential Moving Averages (EMA): o Conditions: The indicator uses EMAs with periods 3, 8, and 13 for quick trend-following signals. o Bullish Signal: EMA3 > EMA8 > EMA13 (Bullish stack). o Bearish Signal: EMA3 < EMA8 < EMA13 (Bearish stack). o Reversal Signal: The crossing over or under of these EMAs can signify trend reversals. 2. MACD (Moving Average Convergence Divergence): o Fast MACD (2, 7, 3) is used to confirm trends quickly. o Bullish Signal: When the MACD line crosses above the signal line. o Bearish Signal: When the MACD line crosses below the signal line. 3. Donchian Channel: o Tracks the highest high and lowest low over a given period (default 20). o Breakout Signal: Price breaking above the upper band is bullish; breaking below the lower band is bearish. 4. VWAP (Volume-Weighted Average Price): o Above VWAP: Bullish condition (price above VWAP). o Below VWAP: Bearish condition (price below VWAP). 5. EMA Stacking & Reversal: o Tracks the order of EMAs (3, 8, 13) to confirm strong trends and reversals. o Bullish Reversal: EMA3 < EMA8 < EMA13 followed by a crossing to bullish. o Bearish Reversal: EMA3 > EMA8 > EMA13 followed by a crossing to bearish. 6. Bull/Bear Flags: o Bull Flag: Characterized by a strong price movement (flagpole) followed by a pullback and breakout. o Bear Flag: Similar to Bull Flag but in the opposite direction. 7. Triangle Patterns (Ascending and Descending): o Detects ascending and descending triangles using pivot highs and lows. o Ascending Triangle: Higher lows and flat resistance. o Descending Triangle: Lower highs and flat support. 8. Volume Sensitivity: o Identifies price moves with significant volume increases. o High Volume: When current volume is significantly above the moving average volume (set to 1.2x of the average). 9. Momentum Indicators: o RSI (Relative Strength Index): Confirms overbought and oversold levels with thresholds set at 65 (overbought) and 35 (oversold). o ADX (Average Directional Index): Confirms strong trends when ADX > 28. o Momentum Up: Momentum is upward with strong volume and bullish RSI/ADX conditions. o Momentum Down: Momentum is downward with strong volume and bearish RSI/ADX conditions. 10. Bollinger & Keltner Squeeze: o Squeeze Condition: A contraction in both Bollinger Bands and Keltner Channels indicates low volatility, signaling a potential breakout. o Squeeze Breakout: Price breaking above or below the squeeze bands. 11. 3 Consecutive Candles Condition: o Bullish: Price rises for three consecutive candles with higher highs and lows. o Bearish: Price falls for three consecutive candles with lower highs and lows. 12. Williams %R and Stochastic RSI: o Williams %R: A momentum oscillator with signals when the line crosses certain levels. o Stochastic RSI: Provides overbought/oversold levels with smoother signals. o Combined Signals: You can choose whether to require both WPR and StochRSI to signal a buy/sell. ________________________________________ User Inputs (Inputs Tab): 1. Minimum Conditions for Buy/Sell: o min_conditions: Number of conditions required to trigger a buy/sell signal on the chart (1 to 12). o Alert_min_conditions: User-defined alert threshold (how many conditions must be met before an alert is triggered). 2. Donchian Channel Settings: o Show Donchian: Toggle visibility of the Donchian channel. o Donchian Length: The length of the Donchian Channel (default 20). 3. Bull/Bear Flag Settings: o Bull Flag Flagpole Strength: ATR multiplier to define the strength of the flagpole. o Bull Flag Pullback Length: Length of pullback for the bull flag pattern. o Bull Flag EMA Length: EMA length used to confirm trend during bull flag pattern. Similar settings exist for Bear Flag patterns. 4. Momentum Indicators: o RSI Length: Period for calculating the RSI (default 9). o RSI Overbought: Overbought threshold for the RSI (default 65). o RSI Oversold: Oversold threshold for the RSI (default 35). 5. Bollinger/Keltner Squeeze Settings: o Squeeze Width Threshold: The maximum width of the Bollinger and Keltner Bands for squeeze conditions. 6. Stochastic RSI Settings: o Stochastic RSI Length: The period for calculating the Stochastic RSI. 7. WPR Settings: o WPR Length: Period for calculating Williams %R (default 14). ________________________________________ User Inputs (Style Tab): 1. Signal Plotting: o Control the display and colors of the buy/sell signals, momentum indicators, and pattern signals on the chart. o Buy/Sell Signals: Can be customized with different colors and shapes (triangle up for buys, triangle down for sells). o Momentum Signals: Custom circle placement for momentum-up or momentum-down signals. 2. Donchian Channel: o Show Donchian: Toggle visibility of the Donchian upper, lower, and middle bands. o Band Colors: Choose the color for each band (upper, lower, middle). ________________________________________ How to Use the Indicator: 1. Adjust Minimum Conditions: Set the minimum number of conditions that must be met for a signal to appear. For example, set it to 5 if you want only stronger signals. 2. Set Alert Threshold: Define the number of conditions needed to trigger an alert. This can be different from the minimum conditions for visual signals. 3. Customize Appearance: Modify the colors and styles of the signals to match your preferences. ________________________________________ Conclusion: This comprehensive trading indicator uses a combination of trend-following, pattern recognition, and momentum-based conditions to help you spot potential buy and sell opportunities. By adjusting the input settings, you can fine-tune it to match your specific trading strategy, making it a versatile tool for different market conditions. Signal Reliability Based on Condition Count The reliability of the buy/sell signals increases as more conditions are met. Here's a breakdown of the probabilities: 1. 1-3 Conditions Met: Lower Probability o Signals that meet only 1-3 conditions tend to have lower reliability and are considered less probable. These signals may represent false positives or weaker market movements, and traders should approach them with caution. 2. 4 Conditions Met: More Reliable Signal o When 4 conditions are met, the signal becomes more reliable. This indicates that multiple indicators or market patterns are aligning, increasing the likelihood of a valid buy/sell opportunity. While not foolproof, it's a stronger indication that the market may be moving in a particular direction. 3. 5-6 Conditions Met: Strong Signal o A signal meeting 5-6 conditions is considered a strong signal. This indicates a well-confirmed move, with several technical indicators and market factors aligning to suggest a higher probability of success. These are the signals that traders often prioritize. 4. 7+ Conditions Met: Rare and High-Confidence Signal o Signals that meet 7 or more conditions are rare and should be considered high-confidence signals. These represent a significant alignment of multiple factors, and while they are less frequent, they are highly reliable when they do occur. Traders can be more confident in acting on these signals, but they should still monitor market conditions for confirmation. ________________________________________ You can adjust the number of conditions as needed, but this breakdown should give a clear structure on how the signal strength correlates with the number of conditions met!
Pine Script® indicator
by LouisMont
1
Z-Score Trend Monitor [EdgeTerminal]The Z-Score Trend Monitor measures how far the short-term moving average deviates from the long-term moving average using the spread difference of the two — in standardized units. It’s designed to detect overextension, momentum exhaustion, and potential mean-reversion points by converting the spread between two moving averages into a normalized Z-score and tracking its change and direction over time. The idea behind this is to catch the changes in the direction of a trend earlier than the usual and lagging moving average lines, allowing you to react faster. The math behind the indicator itself is very simple. We take the simple moving average of the spread between a long term and short term moving average, and divide it by the difference between the spread and spread mean. This results in a relatively accurate and early acting trend detector that can easily identify overbought and oversold levels in any timeframe. From our own testing, we recommend using this indicator as a trend confirmation tool. How to Use It: Keep an eye on the Z-Score or the blue line. When it goes over 2, it indicates an overbought or near top level, and when it goes below -2, it indicates an oversold or near bottom. When Z-Score returns to zero or grey line, it suggests mean reversion is in progress. You can also change the Z-Score criteria from 2 and -2 in the settings to any number you’d like for tighter or wider levels. For scalping and fast trading setups, we recommend shorter SMAs, such as 5 and 20, and for longer trading setups such as swing trades, we recommend 20 and 100. Settings: Short SMA: Lookback period of short term simple moving average for the lower side of the SMA spread. Short Term Weight: Additional weight or multiplier to suppress the short term SMA calculation. This is used to refine the SMA calculation for more granular and edge cases when needed, usually left at 1, meaning it will take the entire given value in the short SMA field. Long SMA: Lookback period of long term simple moving average for the upper side of the SMA spread. Long Term Weight: Additional weight or multiplier to suppress the long term SMA calculation. This is used to refine the long SMA calculation for more granular and edge cases when needed, usually left at 1, meaning it will take the entire given value in the long SMA field. Z-Score Threshold: The threshold for upper (oversold) and lower (overbought) levels. This can also be set individually from the style page. Z-Score Lookback Window: The lookback period to calculate spread mean and spread standard deviation
Pine Script® indicator
by EdgeTerminal
Half Supertrend [NLR]While the Supertrend is a popular tool, traders often face the challenge of false signals and uncertain entry points. The Half Supertrend indicator addresses these shortcomings by introducing a dynamic mid-level , offering a significantly improved way to identify true trend strength and potential high-probability entries. Here's how the mid-level enhances your trend analysis: Filter Out Noise: Instead of reacting to every Supertrend flip, the mid-level helps you identify the strength of the trend. Price moving strongly away from the mid-level confirms a higher conviction move. Identify Optimal Pullback Entries: Waiting for price to pull back to the dynamic mid-level after a Supertrend direction change can provide better entry prices and potentially higher probability setups, capitalizing on established momentum. This approach helps avoid entering prematurely on weaker signals. Gain Deeper Trend Insight: The position of the price relative to both the Supertrend line and the mid-level paints a clearer picture of the current trend's strength and potential for continuation or reversal. Here's the technical edge you've been waiting for: Enhanced Trend Confirmation: This indicator plots a mid-level derived from half the Average True Range (ATR) multiple, acting as a crucial intermediary for assessing trend strength. Intra-Trend Strength Analysis: Price above/below the mid-level: Indicates a strong trending move aligned with the Supertrend direction. Price between the mid-level and the Supertrend line: Suggests a weaker trend and a higher probability of consolidation or reversal. Early Reversal Detection: Price crossing the mid-level can serve as an early warning signal of a potential trend change. Higher Timeframe Clarity: The user-configurable higher timeframe (HTF) input provides a robust, multi-timeframe trend bias. Dynamic Entry Levels: Potential entry levels based on the mid-level are plotted for visual guidance. Clear Visual Representation: Color-coded lines and filled areas simplify trend and strength assessment. How it works under the hood: This indicator utilizes the standard Supertrend calculation on the chosen higher timeframe, incorporating the Average True Range (ATR) to determine volatility-adjusted bands. The unique addition is the "half trend" line, calculated by adding or subtracting half of the ATR-based trailing stop value from the Supertrend line. This mid-level acts as a crucial intermediary zone for evaluating the conviction of the current trend. // Calculate the mid-level line half_line = supertrend + (atr * half_factor) Key Input Parameters: ATR Length: Determines the period for calculating the Average True Range (default: 10). Factor: The multiplier applied to the ATR to determine the Supertrend band width (default: 3). The mid-level dynamically adjusts based on half of this factor. Timeframe: Allows you to select a higher timeframe for the Supertrend calculation, providing a broader trend context. Up Color/Down Color: Customize the colors for uptrend and downtrend indications.
Pine Script® indicator
by NonLinearRookie