Relative Positioning Map█ OVERVIEW
A cross-sectional relative-positioning map. It shows where each of up to 20 instruments sits versus a configurable benchmark right now, measured in daily-volatility units of the relative spread and anchored to the current session's open. It is a visualization and decision-support tool for relative momentum, cross-sectional dispersion and mean-reversion attention on a basket that shares one reference — for example semiconductor names against an ETF, or any sector against a broad index.
The benchmark is fully configurable, so the same tool works on any universe you want to read against a common index. Because every spread is referenced to the same benchmark and scaled the same way, the curves are directly comparable to one another.
█ WHAT IT IS, AND WHAT IT IS NOT
It is a relative-momentum and dispersion map, plus optional intraday attention shading. It is not a buy/sell signal generator and not a mean-reversion entry system: the shaded windows are attention zones, and any alert it raises flags a large relative move, not a trade.
█ WHAT MAKES IT DIFFERENT
Many relative-strength plots normalise a windowed return, such as price now divided by price a fixed number of bars ago. That quantity decays on its own as the lookback rolls past an old move, so the line can fall back toward zero even when price has not reverted at all — the plot and the price disagree. This script avoids that by working on the level of the relative spread rather than on a windowed return, and by anchoring to a static session reference that never chases the level the way a moving average would.
█ CONCEPTS
For each instrument versus the benchmark:
• Relative spread, as a level. s = log( price of instrument / price of benchmark ). It is pulled as a single synthetic ratio series built from the bare tickers. A single series is required because the volatility of a difference carries the cross-covariance of the two legs, which only exists when the ratio is one series. All calculations run at the chosen resolution, which makes the map independent of the chart's own timeframe.
• Session anchor. The opening value of the spread is captured at the session open and held fixed for the whole day, resetting each morning. It is static, not a moving average, so it never chases the level.
• Positioning value. v = ( spread now minus the opening spread ) divided by the spread's daily volatility. A reading of +2 means the instrument is two daily spread standard deviations above where it opened versus the benchmark; a reading of -5 means it has been five below and stayed there. Persistence is information, not an error: a chronically weak name can legitimately sit near -5 all day. No reversion is implied.
• Cross-sectional dispersion bands. At every bar the mean and standard deviation of the values across the whole basket are drawn as envelopes. Wide bands mean high dispersion (names diverging — the classic dispersion-trading backdrop); narrow bands mean the group is moving together.
• Benchmark baseline. The benchmark is the zero line by definition. It is drawn as a band tinted by its own short-term trend, so the regime the whole basket is riding is always visible.
█ HOW TO USE
1 — Set the Benchmark : the denominator of every spread. Change it to a broad index, a sector ETF, or any instrument. Prefer a bare ticker so the synthetic ratio resolves cleanly.
2 — Fill the Universe slots with up to 20 instruments; leave a slot empty to skip it.
3 — Pick the Resolution : the analysis timeframe that drives the calculations, independent of the chart timeframe.
4 — Read the curves: the top of the pane holds the relative outperformers, the bottom the laggards, scaled in daily spread standard deviations since the open.
5 — Read the dispersion bands for the regime: widening envelopes mean a dispersing basket (the dispersion-trading backdrop); contracting envelopes mean convergence.
6 — Use the grey mean-reversion attention windows as reminders of the times of day you choose to watch for reversion in the spreads. They are visual only; validate any reversion with your own analysis.
7 — Use the mover labels and the ranking table to see which names became extreme or accelerated away from the index, and the daily volatility of each spread for sizing.
█ FEATURES
• Configurable benchmark and up to 20 instruments, all comparable on one scale.
• Chart-timeframe-independent computation through a synthetic ratio evaluated at a chosen resolution.
• Cross-sectional dispersion envelopes around the basket mean.
• A trend-tinted benchmark baseline.
• Two configurable intraday attention windows (mean-reversion zones) plus further session highlights, with timezone and transparency controls.
• Mover labels that trigger on extreme positioning OR on acceleration away from zero, with a confirmation requirement, a per-name re-label cooldown, an end-of-session suppression window, and automatic anti-overlap stacking. Historical mover labels are semi-transparent; the live right-margin labels showing the current state are solid.
• A ranking table with each name's positioning value and its spread's daily volatility.
█ LIMITATIONS
• Relative spreads are not guaranteed to mean-revert. Whether a given pair reverts on your timeframe is an empirical question of stationarity and half-life that this tool does not test for you. Treat the shaded windows as attention zones only.
• In extended hours the synthetic ratio depends on both legs trading; where one leg is illiquid you will see stepwise or flat segments. That is market microstructure, not a calculation error.
• The synthetic ratio is built from bare tickers; an unusual symbol that does not resolve will show no data on that slot.
• Higher-timeframe values are requested without lookahead, so historical values are fixed once a bar of the chosen resolution closes; only the currently forming bar updates in real time. This is expected behaviour.
█ NOTES
This script is a context and visualization tool. It does not place orders, and its alerts are informational rather than trade instructions. Nothing in it constitutes financial advice, and past behaviour visible on the chart does not guarantee future results.
═════════════════════════════════════════════════════════════════════════
Published open-source so the calculations can be inspected and adapted. Reuse is governed by the license shown with the source and by PulseWire's House Rules. Indicator
Indicator
Indicator
IS Ghostbusters - Visual Session Levels & Auto-Hedge LogicGhostbusters is a visual execution tool designed for traders who operate based on fixed intraday levels and seek disciplined risk management. The script does more than just project entry, stop loss, and take profit levels; it acts as a real-time session monitor, validating executions and automatically managing hedge operations.
+1
Key Features:
Precision "Touch" Detection: Unlike standard indicators that wait for a candle to close, Ghostbusters uses intrabar prices (High/Low) to detect the exact moment price touches a level, ensuring surgical precision for entries and exits.
"One-Shot" Logic: To prevent overtrading, the script validates only the first outcome of the day. Once a TP or SL is hit, the indicator locks until the next configured session.
+1
Automatic Hedge System: If the initial trade hits the Stop Loss, the script automatically activates a violet-colored hedge radar. It calculates a new entry at the failure point, sets the Stop Loss at the original entry price, and calculates a reduced Take Profit (50% of the original range) to seek a quick technical recovery.
+1
Adaptable Professional UI:
Smart Contrast: Labels automatically change color based on your chart background (light or dark) to ensure total readability.
Level Table: Includes a dynamic table in the bottom corner that organizes SELL, BUY, and Hedge values.
Synchronized Infinite Lines: Uses line objects that span the entire chart, maintaining perfect synchronization with the price scale when zooming or scrolling.
How to Use It:
Configure Levels: Manually enter your Entry, SL, and TP levels for both BUY and SELL scenarios.
Session Control: Define your session start time. The script will ignore any prior movement and place a yellow "START" circle on the starting candle.
+1
Execution: Monitor the visual signals:
▲/▼ OPEN: Confirmed Entry.
✔️ TP: Target Reached.
X SL: Stop Loss Hit.
🟣 OPEN HEDGE: Hedge activation after an initial SL.
Technical Notes:
Written in Pine Script v6.
Optimized to keep the chart clean by avoiding unnecessary data points, maintaining a professional aesthetic.
Disclaimer: This script is a visualization and manual trading aid. It does not constitute financial advice or guarantee profits. Use at your own risk. Indicator
Index Position Size Calculator for [US30 / US100 / SP500]What it does
This tool helps you size positions consistently for index trades on US30 (Dow Jones), NAS100 (Nasdaq-100), and SP500 (S&P 500). Enter your account balance, risk %, and your planned Entry / Stop-Loss / Target and the script calculates:
• Position Size (rounded to your lot/contract step)
• Risk-to-Reward (R/R)
• Potential P/L in USD based on your inputs
• Visual Entry / SL / TP lines with green/red zones and concise labels
Supported contract styles
Choose a preset for common products (e.g., CFD $1/pt, YM/NQ/ES futures, MYM/MNQ/MES micros) or override the economics yourself. You remain in control of the two key levers:
• $/point — how many dollars you gain/lose per 1 index point per contract/lot
• Point size — how many price units equal 1 index point on your chart (often 1.0, but some brokers use 0.1 or 0.5)
Inputs
• Account Balance ($) and Risk % per trade
• Index: US30 / NAS100 / SP500
• Contract: CFD / Futures (YM, NQ, ES) / Micros (MYM, MNQ, MES)
• $/point: auto from Contract or manual override
• Point size: auto from Index or manual override
• Position size step: rounding (e.g., 1 for futures, 0.01 for CFDs)
• Entry / SL / TP: typed values (snapped to tick), with on-chart zones and labels
• Display toggles for lines and labels
How the math works
• StopPoints = |Entry − SL| ÷ PointSize
• ProfitPoints = |TP − Entry| ÷ PointSize
• Position Size = (AccountBalance × Risk%) ÷ (StopPoints × $/point)
• R/R = ProfitPoints ÷ StopPoints
• Potential P/L = PositionSize × Points × $/point
How to use (quick start)
1. Select Index and Contract.
2. Confirm $/point and Point size match your broker’s specs.
3. Enter Entry / SL / TP for the trade idea.
4. Read the Position Size, R/R, and Potential P/L in the info box.
5. Adjust for fees, spreads, and slippage as needed.
Notes & limitations
• Broker symbols can vary. Always verify $/point and Point size for your instrument before risking capital.
• The script does not place orders and does not generate trade signals; it’s a sizing/visualization tool.
• Results can differ across brokers due to pricing, spreads, minimum lot sizes, and execution rules.
• Use on the intended indices; you’ll see a reminder if you load it elsewhere.
Changelog highlights
• Pine v6, constant-safe inputs, tick-snapping, global fills (no local-scope errors).
• Robust label handling and optional minimal chart markers.
Disclaimer
This script is provided for educational purposes only and does not constitute financial advice or a recommendation to buy or sell any security or derivative. Trading involves risk, including the possible loss of principal. Always do your own research, verify contract specifications with your broker, and consider testing in a demo environment before trading live. Indicator
Index investingThe Index Investing indicator simplifies decision-making for adding to Index ETF's Long-term investments. By utilizing a percentage discount methodology, it highlights potential opportunities to enhance portfolios. This straightforward tool aids in identifying favorable moments to invest based on calculated price discounts from selected reference points, making the process more systematic and less subjective.
🔶 SETTINGS
Reference Price: Choose between 'All-Time-High' or 'Start of the Year' as the basis for calculating discount levels. This allows for flexibility in strategy depending on market conditions or investment philosophy.
Discount 1 %, Discount 2 %, Discount 3 %: These inputs define the percentage below the reference price at which buy signals are generated. They represent strategic entry points at discounted prices.
🔶 Default Parameters
The default parameters of 4.13%, 8.26%, and 12.39% for the discount levels are chosen based on the average 5-year return of the NSE:NIFTY Index, which stands at approximately 12.39%. By dividing this return into three parts, we obtain a structured approach to capturing potential upside at varying levels of market retracement, providing a logical basis for the selected default values.
Users have the flexibility to modify these parameters, tailoring the indicator to fit their unique approach and market outlook.
🔶 How Levels Are Calculated
Discount levels are calculated using the formula: Discount Price = Reference Price * (1 - Discount %) . This succinct approach establishes specific entry points below the chosen reference, such as an all-time high or the year's start price.
🔶 How Are the Buy Labels Generated
Buy signals are generated when the market price(Low of the candle) crosses under any of the defined discount levels. Each level has a corresponding buy label ('Buy 1', 'Buy 2', 'Buy 3'), which is activated upon the price crossing below the specified discount level and is only reset at the beginning of a new year or upon reaching a new reference high, ensuring signals are not repetitive for the same price level.
🔶 Other Features
Alerts: The indicator provides alerts for each buy signal, notifying potential entry points at their defined discount levels. The alert triggers only once per candle.
Year Marker: A vertical line with an accompanying label marks the start of each trading year on the chart. This feature aids in visualizing the temporal context of buy signals and reference price adjustments.
Indicator
Indicator
Make Your Own Index!Intro
For my first script, I have released Make Your Own Index version 1. It has a long way to go so please stay tuned. Scroll down to read all the updates and notes as they come in.
Why it matters
Making your index is important to quickly see an index of symbols that you want to chart. Having the ability to assign weightings gives you the opportunity to make the index equal weighted or custom weighted. As we all know, indexes like the S&P 500 are NOT equal weighted, but more heavily weighted toward the winners. Now, you can make your own of a basket of symbols and make them custom weighted or equal weighted. Have some fun exploring this.
Features
You select the symbols of your choice and then chart them as one line with a specific weighting. This can be done in the settings menu once the indicator is selected. Use the symbol search field to add a symbol. From what I have tested, it works for any symbol whether it's stocks, crypto, FX and more. The default is set to stocks.
The Weight field in the settings menu is where you can assign a specific weight to the symbol of your choice. This way you can make an equal weighted index or a custom weighted index. By default each symbol is set to 10 or 10%. There are 10 symbols in the menu, so at 10%, they are equally weighted! In the script I have made it so each weighting is in percentage terms. So type in the percentage and you're good to go.
The chart is currently displayed in a separate window and not as an overlay. This may change in the future. The line can also be changed slightly and the color of it. Stay tuned for more on this.
Send in feedback
I am a Pine rookie in all regards and I am surely looking for support, feedback, and/or ideas. I want to add a lot more to this. If you look at the settings you will see have some input fields that are in their first iteration and currently needing to be improved. Rather than waiting to make them perfect, I just want to get this out there and update as I go. Also, as mentioned, I will definitely need a little support at adding more features that I have in mind.
Credit where credit is due
I used a lot of Open Source indicators as inspiration to quickly get going so thank you to the following people and accounts who share open source scripts that you can use to learn, test, and get started instantly:
@PulseWire
@LucF
@PineCoders
@KioseffTrading
@norok
@RedKTrader
@NeoButane
And many others. That's the beauty of open source!
Closing note
Publishing it open source so people can fact check my code and thinking. One thing I know for sure is that this can probably be created in a more efficient way. Nonetheless, please a take look and let me know what you think - I am excited to make some updates over the coming weeks.
Thanks for reading!
Indicator
Confluence CandlesThis indicator looks for confluence among three indicators (RSI, Stochastic, and MACD), a strategy popularized by Markus Heitkoetter in his book, “The PowerX Strategy: How to Trade Stocks and Options in Only 15 Minutes a Day”, and expands it to look for agreement on up to four symbols.
Each indicator is configurable in the settings, as well as the ability to choose which of the indicators are used.
Default Logic
Green Candles
RSI > 50
Stochastic > 50
MACD Histogram > 0
Red Candles
RSI < 50
Stochastic < 50
MACD Histogram < 0
When multiple symbols are selected, the above needs to be true for all selected symbols.
Example Use Cases
- Setting the indicator to the Nasdaq 100 (QQQ or NQ1!) while trading a stock that is part of that index such as AAPL or TSLA
- Setting the indicator to multiple indexes that tend to move together in order to trade one of them since they tend to make stronger moves when moving together (ex. SPY & QQQ, or ES1! & NQ1!)
- Setting the indicator to Bitcoin while trading a smaller crypto pair that moves as a sympathy play.
Tip
If you have trouble finding the full name for a specific instrument from an exchange such as BTCUSD from Coinbase, you can bring up PulseWire’s “Symbol Search” pop-up modal, enter your search term, use the down arrow key on your keyboard to move the focus to the symbol you want, and you will see the full name in the search field such as “COINBASE:BTCUSD”. Indicator
INDICES against BTC & ETHThe idea is the following; you can easily chart the FTX perp indices against (currently) two baselines, ETH & BTC.
I always choose ETH since it is way harder to outperform ETH at the moment. Doing this helps me see certain trends and/or fractal that might happen again in the future.
Since I already made D.A.M (Defi against Majors / Pricing Defi categories against BTC & ETH: ) I came across the idea of doing the same thing but with the perp indices that FTX offer. At first, I wanted to add this to D.A.M but it has no place in this indicator since this will not only look at Defi but the macro market as a whole.
The indicator currently only looks at the following indexes (weighting can be found here: https:// help. ftx. com/hc/en-us/articles/360027668812-Index-Calculation) :
DRGN: THE DRAGON INDEX
ARPA, BTM, IOST, NEO, NULS, ONT, QTUM, TRX, VET
ALT: ALTCOIN INDEX
BCH, BNB, EOS, ETH, LTC, XRP, TRX, DOT, LINK, ADA
MID: THE MID CAP INDEX
ALGO, ATOM, BAT, CRO, DASH, DCR, DOGE, HT, IOTA, LEO, NEO, OKB, ONT, QTUM, VET, XEM, XLM, XMR, XTZ, ZEC, ZRX, OMG, COMP, BSV, FTT, YFI, UNI, SNX, MKR, AAVE
SHIT: THE SHITCOIN INDEX
AE, AION, ARDR, ARPA, BCD, BEAM, BTG, BTM, BTS, BTT, CHZ, CKB, DGB, ELF, ENJ, GNT, GRIN, GT, HBAR, HC, ICX, IOST, KMD, KNC, LAMB, LRC, LSK, MANA, MATIC, MCO, NANO, NULS, OMG, POWR, PUNDIX, REN, REP, RVN, SC, SNT, STEEM, THETA, TOMO, VSYS, WAVES, XVG, XZC, ZEN, ZIL, ZRX
PRIV: THE PRIVACY INDEX
BEAM, DCR, GRIN, KMD, XMR, XVG, XZC, ZEC, ZEN
DEFI: THE DECENTRALIZED FINANCE INDEX
KNC, MKR, ZRX, REN, REP, SNX, COMP, TOMO, RUNE, CRV, DOT, LINK, MTA, SOL, CREAM, BAND, SRM, SUSHI, SWRV, AVAX, YFI, UNI, WNXM, AAVE, BAL
Indicator
Indicator
Indicator
Indicator
