Indicator
Adaptive Confluence Oscillator [ForexCracked]🔵 OVERVIEW
The Adaptive Confluence Oscillator scores four independent read-outs of the market on a continuous scale, weights them according to the current market regime, and plots the result as a single 0 to 100 line. Instead of asking "do my indicators agree, yes or no," it asks "how strongly does each one agree, and which of them should I be listening to right now."
It has no fixed overbought or oversold levels. The bands are calculated from the oscillator's own recent behaviour, so they widen when the market gets volatile and tighten when it goes quiet.
Signals confirm on candle close and do not repaint.
🔵 WHY THIS IS BUILT THE WAY IT IS
Most multi-indicator tools take a vote. RSI is oversold or it is not. That throws away most of the information: an RSI of 29 and an RSI of 12 are not the same signal, but a vote counts them identically. It also treats every indicator as equally relevant at all times, which is plainly false. Stochastic exhaustion means one thing in a strong trend and the opposite thing in a range.
This oscillator fixes both problems. Every component returns a continuous score, and the market regime decides how much each score is worth.
🔵 THE FOUR COMPONENTS (each scored from -1 to +1)
• Trend: how far price sits from its baseline EMA, measured in ATR units rather than in price. Distance matters, not just which side of the line you are on. Because it is measured in ATR, it reads the same on gold as it does on EURUSD.
• Momentum: RSI recentred around 50, so it contributes proportionally instead of flipping at a threshold.
• Impulse: the MACD histogram converted to a z-score against its own rolling deviation. This makes MACD comparable across symbols and timeframes without ever re-tuning it, which raw MACD values are not.
• Stretch: the Stochastic, recentred. This is the component that changes behaviour with regime (see below).
🔵 THE REGIME SWITCH (the part that makes it adaptive)
ADX decides whether the market is trending or ranging, and that changes two things.
First, the weights re-balance:
• Trending: Trend 0.35, Momentum 0.25, Impulse 0.30, Stretch 0.10
• Ranging: Trend 0.15, Momentum 0.25, Impulse 0.20, Stretch 0.40
Second, and more importantly, the Stretch component flips sign. In a trend, a stretched Stochastic confirms the move and pushes the score further in that direction. In a range, the same reading argues for a fade and pushes the score the other way. This is the behaviour a discretionary trader applies without thinking about it, and it is what a fixed vote cannot express.
🔵 ADAPTIVE BANDS
There are no 70/30 lines here. The upper and lower bands are the rolling mean of the oscillator plus and minus a multiple of its own standard deviation. A reading of 68 can be an extreme in a quiet market and completely unremarkable in a volatile one, and the bands reflect that.
• BUY: the score crosses above the upper adaptive band
• SELL: the score crosses below the lower adaptive band
🔵 DIVERGENCE
The script finds pivots on the score itself and compares them against price at those same bars. When price makes a higher high but the score makes a lower high, that is marked as a bearish divergence, and the mirror case as bullish. Divergences are labelled and have their own alerts. Because a divergence is anchored to a confirmed pivot, it prints a few bars after that pivot forms and never moves once printed.
🔵 THE DASHBOARD
The panel shows each component's live score, its current weight, the detected regime with the ADX value, and the oscillator against its adaptive bands. You can see exactly which component is driving the reading and why, rather than trusting a black box.
🔵 SETTINGS
• Baseline EMA 34, ATR 14, Trend Span 2.0 x ATR
• RSI 14, MACD 12/26/9, Stochastic 14
• ADX 14, trending above 22
• Band lookback 100, band width 1.0 x standard deviation
🔵 HOW TO USE
• Take signals where the dashboard regime agrees with the direction. A BUY in a trending regime is a continuation. A BUY in a ranging regime is a fade off the bottom of the range.
• Treat a divergence as a warning to tighten or take partials, not as a standalone entry.
• Raise the band width above 1.0 for fewer and stronger signals, lower it for more.
• Widen Trend Span on noisy symbols so ordinary volatility does not read as trend.
⚠️ DISCLAIMER
This is an analysis tool, not a prediction. A confluence score is a measure of agreement, and indicators can agree and still be wrong. Results depend on market conditions, settings, and your own execution and risk management. Shared for educational and research purposes. Not financial advice. Indicator
Currency Strength Meter [ForexCracked]🔵 OVERVIEW
A currency strength meter that ranks the eight major currencies against each other in real time, and then tells you the one thing you actually opened it for: which pair to trade right now.
It reads all 28 major crosses, so every currency is measured across all seven of its pairs, not just against the dollar.
🔵 WHAT MAKES THIS ONE DIFFERENT
Almost every strength meter measures each pair's percent change and averages it. That has a flaw nobody talks about: a 40 pip move in a quiet pair and a 40 pip move in a violent one are treated as the same event, when they are not remotely the same event.
This meter measures every move in ATR units instead. A currency only scores highly if it has moved far relative to how far that pair normally moves. Quiet pairs stop being drowned out by naturally volatile ones, and the ranking stops flattering whichever currency happens to be paired with the wildest counterpart that week.
🔵 WHAT IT SHOWS
• A live ranking of USD, EUR, GBP, JPY, CHF, AUD, NZD and CAD, strongest to weakest
• Each currency's strength in ATR units, so the numbers mean something rather than being an index
• Whether each currency is strengthening or weakening against its own recent reading, not just where it sits
• The Best Pair line: long the strongest currency, short the weakest
• The Spread: the distance between strongest and weakest
🔵 THE SPREAD (read this one first)
The spread is the gap between the strongest and the weakest currency. It answers a question most traders skip: is anything actually happening?
A wide spread means currencies are genuinely diverging and a strength-based trade has something to work with. A narrow spread means everything is drifting together, the ranking is mostly noise, and the best trade is usually no trade. Check the spread before you trust the ranking.
🔵 HOW TO USE
• Read the spread. If it is small, the ranking is not telling you much, so wait.
• Take the Best Pair as a starting point, not an entry. It tells you where the divergence is, not when to get in.
• Prefer a currency that is both highly ranked and still strengthening over one that is highly ranked and already fading, since the second one has usually made its move.
• Confirm the pair on the chart with your own entry method. A strength meter frames the trade. It does not time it.
• Lengthen the Lookback for swing trading and shorten it for intraday.
🔵 SETTINGS
• Strength Lookback: how many bars back the move is measured over (default 24)
• ATR Length: the volatility yardstick every move is divided by (default 14)
• Symbol Prefix: leave blank on most charts. If the pairs do not load, set it to your data provider, for example OANDA: or FX:
• Show Ranking Table: toggles the strongest-to-weakest table in the top right (default on)
• Plot Strength Lines: toggles the eight strength curves in the pane (default on)
⚠️ DISCLAIMER
Relative strength tells you which currencies are moving and which are not. It does not tell you when to enter, and strong currencies reverse. Results depend on market conditions, settings, and your own execution and risk management. Shared for educational and research purposes. Not financial advice. Indicator
Monte Carlo Simulation BandsMonte Carlo Simulation v2.4.2
Plots a one-bar-ahead price distribution band built from many simulated paths. The green band shows empirical percentiles of simulated final prices—these are distribution bounds, not a confidence interval of the mean.
What It Does
Simulates many one-bar price paths using a directional random walk with volatility scaling (uniform shocks, not Gaussian GBM).
Plots Mean Forecast, Median Forecast, and configurable percentile bounds (default 5th/95th).
Optional rolling HTF-days mean line (yellow) for trend context.
Optional labels and forward projection lines.
Alerts when the confirmed close breaks above or below the percentile band.
Non-Repainting & HTF Behavior (Fail-Closed)
All calculations are gated to confirmed bars only via explicit no_repaint_ok gate (barstate.isconfirmed).
If you select an HTF Resolution, the script uses a strict request.security(..., lookahead_off, gaps_off) pipeline.
If HTF data is unavailable, outputs are na—no silent fallback to chart timeframe.
A separate "HTF Alignment (lagged)" plot shows the prior HTF close (htf_price ) as visual proof of no look-ahead.
Volatility Source & Scaling
If "Use Historical Volatility" is enabled, volatility is estimated from log returns on the selected resolution (HTF if set, otherwise chart).
Annualization adapts to session type:
Equities: 6.5 hours/day, 252 trading days/year
Crypto: 24 hours/day, 365 days/year
Substeps increase path smoothness within the same one-bar horizon—they do not extend the forecast to multiple bars.
Key Inputs
• Prob Up / Prob Down — Must satisfy Prob Up + Prob Down ≤ 1.0. If violated, simulation is skipped and table shows "✗ PROB>1".
• # Simulations / # Substeps — Higher = smoother/more stable, but slower. Default 100×100 is a good balance.
• Lower/Upper Percentile — Define the band width (e.g., 5 and 95 for a 90% distribution band).
• Run On Last Bar Only — Performance mode (recommended). Skips historical computation; updates on each new confirmed bar.
• Resolution (HTF) — Leave blank for chart timeframe, or set to Weekly/Monthly for HTF-aligned simulation.
• Crypto 24/7 Session? — Enable for crypto markets to use correct annualization (365d, 24h).
How to Use (Quickstart)
Start with defaults and keep Run On Last Bar Only = true for speed.
Set Prob Up and Prob Down so their sum ≤ 1.0 (e.g., 0.5 + 0.5 = 1.0 for neutral).
Enable "Use Historical Volatility" and set a Volatility Lookback (e.g., 20 bars) for data-driven vol.
Set Resolution (HTF) if you want the model to run on higher timeframe data (e.g., 1W). Expect updates only when a new HTF interval starts.
Choose percentiles (e.g., 5 and 95) to define your distribution band width.
Enable alerts for "Price Above Upper Percentile" or "Price Below Lower Percentile" to get notified of breakouts.
Limitations & Disclosures
Forecast horizon is one bar only. Substeps do not create a multi-bar forecast.
Model uses uniform shocks with direction chosen from Prob Up/Down. This is not Geometric Brownian Motion (GBM) and is not calibrated to any option-implied distribution.
Bounds are percentiles of final simulated prices, not a statistical confidence interval of the mean.
HTF mode updates at the start of a new HTF interval (first chart bar where the HTF timestamp changes), so the band appears "step-like" in realtime.
Historical volatility requires enough bars for the selected lookback; until then, values may be na.
Performance depends on Sims × Substeps; extreme settings (e.g., 500×500) can be slow.
This indicator does not predict direction—it shows a probabilistic range based on your inputs.
Indicator
Institutional Levels (CNN) - [PhenLabs]📊Institutional Levels (Convolutional Neural Network-inspired)
Version : PineScript™v6
📌Description
The CNN-IL Institutional Levels indicator represents a breakthrough in automated zone detection technology, combining convolutional neural network principles with advanced statistical modeling. This sophisticated tool identifies high-probability institutional trading zones by analyzing pivot patterns, volume dynamics, and price behavior using machine learning algorithms.
The indicator employs a proprietary 9-factor logistic regression model that calculates real-time reaction probabilities for each detected zone. By incorporating CNN-inspired filtering techniques and dynamic zone management, it provides traders with unprecedented accuracy in identifying where institutional money is likely to react to price action.
🚀Points of Innovation
● CNN-Inspired Pivot Analysis - Advanced binning system using convolutional neural network principles for superior pattern recognition
● Real-Time Probability Engine - Live reaction probability calculations using 9-factor logistic regression model
● Dynamic Zone Intelligence - Automatic zone merging using Intersection over Union (IoU) algorithms
● Volume-Weighted Scoring - Time-of-day volume Z-score analysis for enhanced zone strength assessment
● Adaptive Decay System - Intelligent zone lifecycle management based on touch frequency and recency
● Multi-Filter Architecture - Optional gradient, smoothing, and Difference of Gaussians (DoG) convolution filters
🔧Core Components
● Pivot Detection Engine - Advanced pivot identification with configurable left/right bars and ATR-normalized strength calculations
● Neural Network Binning - Price level clustering using CNN-inspired algorithms with ATR-based bin sizing
● Logistic Regression Model - 9-factor probability calculation including distance, width, volume, VWAP deviation, and trend analysis
● Zone Management System - Intelligent creation, merging, and decay algorithms for optimal zone lifecycle control
● Visualization Layer - Dynamic line drawing with opacity-based scoring and optional zone fills
🔥Key Features
● High-Probability Zone Detection - Automatically identifies institutional levels with reaction probabilities above configurable thresholds
● Real-Time Probability Scoring - Live calculation of zone reaction likelihood using advanced statistical modeling
● Session-Aware Analysis - Optional filtering to specific trading sessions for enhanced accuracy during active market hours
● Customizable Parameters - Full control over lookback periods, zone sensitivity, merge thresholds, and probability models
● Performance Optimized - Efficient processing with controlled update frequencies and pivot processing limits
● Non-Repainting Mode - Strict mode available for backtesting accuracy and live trading reliability
🎨Visualization
● Dynamic Zone Lines - Color-coded support and resistance levels with opacity reflecting zone strength and confidence scores
● Probability Labels - Real-time display of reaction probabilities, touch counts, and historical hit rates for active zones
● Zone Fills - Optional semi-transparent zone highlighting for enhanced visual clarity and immediate pattern recognition
● Adaptive Styling - Automatic color and opacity adjustments based on zone scoring and statistical significance
📖Usage Guidelines
● Lookback Bars - Default 500, Range 100-1000, Controls the historical data window for pivot analysis and zone calculation
● Pivot Left/Right - Default 3, Range 1-10, Defines the pivot detection sensitivity and confirmation requirements
● Bin Size ATR units - Default 0.25, Range 0.1-2.0, Controls price level clustering granularity for zone creation
● Base Zone Half-Width ATR units - Default 0.25, Range 0.1-1.0, Sets the minimum zone width in ATR units for institutional level boundaries
● Zone Merge IoU Threshold - Default 0.5, Range 0.1-0.9, Intersection over Union threshold for automatic zone merging algorithms
● Max Active Zones - Default 5, Range 3-20, Maximum number of zones displayed simultaneously to prevent chart clutter
● Probability Threshold for Labels - Default 0.6, Range 0.3-0.9, Minimum reaction probability required for zone label display and alerts
● Distance Weight w1 - Controls influence of price distance from zone center on reaction probability
● Width Weight w2 - Adjusts impact of zone width on probability calculations
● Volume Weight w3 - Modifies volume Z-score influence on zone strength assessment
● VWAP Weight w4 - Controls VWAP deviation impact on institutional level significance
● Touch Count Weight w5 - Adjusts influence of historical zone interactions on probability scoring
● Hit Rate Weight w6 - Controls prior success rate impact on future reaction likelihood predictions
● Wick Penetration Weight w7 - Modifies wick penetration analysis influence on probability calculations
● Trend Weight w8 - Adjusts trend context impact using ADX analysis for directional bias assessment
✅Best Use Cases
● Swing Trading Entries - Enter positions at high-probability institutional zones with 60%+ reaction scores
● Scalping Opportunities - Quick entries and exits around frequently tested institutional levels
● Risk Management - Use zones as dynamic stop-loss and take-profit levels based on institutional behavior
● Market Structure Analysis - Identify key institutional levels that define current market structure and sentiment
● Confluence Trading - Combine with other technical indicators for high-probability trade setups
● Session-Based Strategies - Focus analysis during high-volume sessions for maximum effectiveness
⚠️Limitations
● Historical Pattern Dependency - Algorithm effectiveness relies on historical patterns that may not repeat in changing market conditions
● Computational Intensity - Complex calculations may impact chart performance on lower-end devices or with multiple indicators
● Probability Estimates - Reaction probabilities are statistical estimates and do not guarantee actual market outcomes
● Session Sensitivity - Performance may vary significantly between different market sessions and volatility regimes
● Parameter Sensitivity - Results can be highly dependent on input parameters requiring optimization for different instruments
💡What Makes This Unique
● CNN Architecture - First indicator to apply convolutional neural network principles to institutional-level detection
● Real-Time ML Scoring - Live machine learning probability calculations for each zone interaction
● Advanced Zone Management - Sophisticated algorithms for zone lifecycle management and automatic optimization
● Statistical Rigor - Comprehensive 9-factor logistic regression model with extensive backtesting validation
● Performance Optimization - Efficient processing algorithms designed for real-time trading applications
🔬How It Works
● Multi-timeframe pivot identification - Uses configurable sensitivity parameters for advanced pivot detection
● ATR-normalized strength calculations - Standardizes pivot significance across different volatility regimes
● Volume Z-score integration - Enhanced pivot weighting based on time-of-day volume patterns
● Price level clustering - Neural network binning algorithms with ATR-based sizing for zone creation
● Recency decay applications - Weights recent pivots more heavily than historical data for relevance
● Statistical filtering - Eliminates low-significance price levels and reduces market noise
● Dynamic zone generation - Creates zones from statistically significant pivot clusters with minimum support thresholds
● IoU-based merging algorithms - Combines overlapping zones while maintaining accuracy using Intersection over Union
● Adaptive decay systems - Automatic removal of outdated or low-performing zones for optimal performance
● 9-factor logistic regression - Incorporates distance, width, volume, VWAP, touch history, and trend analysis
● Real-time scoring updates - Zone interaction calculations with configurable threshold filtering
● Optional CNN filters - Gradient detection, smoothing, and Difference of Gaussians processing for enhanced accuracy
💡Note
This indicator represents advanced quantitative analysis and should be used by traders familiar with statistical modeling concepts. The probability scores are mathematical estimates based on historical patterns and should be combined with proper risk management and additional technical analysis for optimal trading decisions. Indicator
Vix_Fix Enhanced MTF [Cometreon]The VIX Fix Enhanced is designed to detect market bottoms and spikes in volatility, helping traders anticipate major reversals with precision. Unlike standard VIX Fix tools, this version allows you to control the standard deviation logic, switch between chart styles, customize visual outputs, and set up advanced alerts — all with no repainting.
🧠 Logic and Calculation
This indicator is based on Larry Williams' VIX Fix and integrates features derived from community requests/advice, such as inverse VIX logic.
It calculates volatility spikes using a customizable standard deviation of the lows and compares it to a moving high to identify potential reversal points.
All moving average logic is based on Cometreon's proprietary library, ensuring accurate and optimized calculations on all 15 moving average types.
🔷 New Features and Improvements
🟩 Custom Visual Styles
Choose how you want your VIX data displayed:
Line
Step Line
Histogram
Area
Column
You can also flip the orientation (bottom-up or top-down), change the source ticker, and tailor the display to match your charting preferences.
🟩 Multi-MA Standard Deviation Calculation
Customize the standard deviation formula by selecting from 15 different moving averages:
SMA (Simple Moving Average)
EMA (Exponential Moving Average)
WMA (Weighted Moving Average)
RMA (Smoothed Moving Average)
HMA (Hull Moving Average)
JMA (Jurik Moving Average)
DEMA (Double Exponential Moving Average)
TEMA (Triple Exponential Moving Average)
LSMA (Least Squares Moving Average)
VWMA (Volume-Weighted Moving Average)
SMMA (Smoothed Moving Average)
KAMA (Kaufman’s Adaptive Moving Average)
ALMA (Arnaud Legoux Moving Average)
FRAMA (Fractal Adaptive Moving Average)
VIDYA (Variable Index Dynamic Average)
This gives you fine control over how volatility is measured and allows tuning the sensitivity for different market conditions.
🟩 Full Control Over Percentile and Deviation Conditions
You can enable or disable lines for standard deviation and percentile conditions, and define whether you want to trigger on over or under levels — adapting the indicator to your exact logic and style.
🟩 Chart Type Selection
You're no longer limited to candlestick charts! Now you can use Vix_Fix with different chart formats, including:
Candlestick
Heikin Ashi
Renko
Kagi
Line Break
Point & Figure
🟩 Multi-Timeframe Compatibility Without Repainting
Use a different timeframe from your chart with confidence. Signals remain stable and do not repaint. Perfect for spotting long-term reversal setups on lower timeframes.
🟩 Alert System Ready
Configure alerts directly from the indicator’s panel when conditions for over/under signals are met. Stay informed without needing to monitor the chart constantly.
🔷 Technical Details and Customizable Inputs
This indicator includes full control over the logic and appearance:
1️⃣ Length Deviation High - Adjusts the lookback period used to calculate the high deviation level of the VIX logic. Shorter values make it more reactive; longer values smooth out the signal.
2️⃣ Ticker - Choose a different chart type for the calculation, including Heikin Ashi, Renko, Kagi, Line Break, and Point & Figure.
3️⃣ Style VIX - Change the visual style (Line, Histogram, Column, etc.), adjust line width, and optionally invert the display (bottom-to-top).
📌 Fill zones for deviation and percentile are active only in Line and Step Line modes
4️⃣ Use Standard Deviation Up / Down - Enable the overbought and oversold zone logic based on upper and lower standard deviation bands.
5️⃣ Different Type MA (for StdDev) - Choose from 15 different moving averages to define the calculation method for standard deviation (SMA, EMA, HMA, JMA, etc.), with dedicated parameters like Phase, Sigma, and Offset for optimized responsiveness.
6️⃣ BB Length & Multiplier - Adjust the period and multiplier for the standard deviation bands, similar to how Bollinger Bands work.
7️⃣ Show StdDev Up / Down Line - Enable or disable the visibility of upper and lower standard deviation boundaries.
8️⃣ Use Percentile & Length High - Activate the percentile-based logic to detect extreme values in historical volatility using a customizable lookback length.
9️⃣ Highest % / Lowest % - Set the high and low percentile thresholds (e.g., 85 for high, 99 for low) that will be used to trigger over/under signals.
🔟 Show High / Low Percentile Line - Toggle the visual display of the percentile boundaries directly on the chart for clearer signal reference.
1️⃣1️⃣ Ticker Settings – Customize parameters for special chart types such as Renko, Heikin Ashi, Kagi, Line Break, and Point & Figure, adjusting reversal, number of lines, ATR length, etc.
1️⃣2️⃣ Timeframe – Enables using SuperTrend on a higher timeframe.
1️⃣3️⃣ Wait for Timeframe Closes -
✅ Enabled – Displays Vix_Fix smoothly with interruptions.
❌ Disabled – Displays Vix_Fix smoothly without interruptions.
☄️ If you find this indicator useful, leave a Boost to support its development!
Every feedback helps to continuously improve the tool, offering an even more effective trading experience. Share your thoughts in the comments! 🚀🔥 Indicator
Extreme Entry with Mean Reversion and Trend FilterThis non-repainting indicator is an improved version of my previous work, a more versatile tool designed to provide traders with dynamic and adaptive entry signals while incorporating a mean reversion and trend filtering mechanism. By combining RSI overbought/oversold, regular divergence and confirmatory momentum oscillator such as CCI or MOM, this indicator generates more precise and timely signals for entering trades.
The indicator offers a comprehensive set of entry conditions for both Buy and Sell entries:
• For Buy entries, it checks for oversold conditions based on RSI levels, and detects bullish divergence patterns while oversold and it identifies upward crossovers in the selected entry signal source (CCI or Momentum).
• Similarly, for Sell entries, it identifies downward crossovers of the CCI or Mom, after the recent overbought conditions, and bearish divergence patterns inside the overbought RSI.
To refine the entry signals even further, the indicator utilizes a mean reversion filter. Traders can choose to display signals that occur inside or outside the upper and lower mean reversion bands:
• Range Entries are indicating potential buying opportunities near the lower band and selling opportunities near the upper band. This is based on the concept of mean reversion, which suggests that prices tend to return to the average when they reach the upper or lower bands. By focusing on these signals, traders can take advantage of price movements that have a higher probability of reversing towards the mean.
• Extreme Entries, on the other hand, represent signals that occur outside of the bands, signaling potential pullbacks during strong trends. By entering positions only at extreme highs or lows, traders can avoid getting caught in the middle of the trend. This approach helps traders capitalize more favorable trading opportunities which have a high reward-risk ratio.
Trend Filter acts as a directional bias for the entry signals. When enabled, long and short entry conditions are filtered based on the relationship between the closing price and the EMA.
Traders have the flexibility to customize, tweak the indicator filter and values in the settings according to their preferences strategies and traded assets, tailoring the signals to their specific needs. The script sets alert conditions to trigger alerts for buy, sell, or both entry signals. This indicator can be used in conjunction with price action or other technical analysis tools for confirmation and better trading decisions.
I created this indicator for my own use, and I share this for informational purposes only. It does not constitute financial advice so use at your own risk and consider your financial situation before making any trading decisions. The indicator's accuracy is not guaranteed, and past performance is not indicative of future results.
I appreciate your feedback on this indicator. As I am new to script development, I am open to comments and suggestions to improve it. If you encounter any issues while using this indicator, please let me know in the comments section. If you find it helpful, I kindly ask for your support in boosting it. Thank you for your cooperation. Indicator
Adaptive Price Channel (log scale)The field of technical analysis is consistently expanding, with numerous indicators used for market forecasting. Amongst them, a novel indicator dubbed the Adaptive Price Channel (log scale), inspired by the renowned Nadaraya-Watson Envelope (LuxAlgo) from LuxAlgo, is gaining traction for its distinctive features and versatility. Unlike its predecessor, the Adaptive Price Channel (log scale) is applicable on a logarithmic scale, thereby allowing it to be utilized on both smaller and larger timeframes.
1. Key Features
The Adaptive Price Channel (log scale) is founded on the trading view Pinescript language, version 5, with its primary aim to maximize the versatility and scalability of trading indicators. It allows traders to adapt it according to their preferred timeframe, thereby making it applicable for a wide range of trading strategies.
Its bandwidth can be adjusted through the input parameters, offering traders the flexibility to manipulate the indicator according to their strategic requirements. Furthermore, it provides an option for repainting smoothing. This option enables users to control the repainting effect in which the historical output of the indicator may change over time. When disabled, the indicator provides the endpoints of the calculations, ensuring consistency in historical values.
Moreover, the Adaptive Price Channel (log scale) allows for color customization, thereby improving visibility and user-friendliness. The colors of the indicator's upward and downward directions can be changed according to the user's preference.
2. Working Mechanism
The Adaptive Price Channel (log scale) uses the logarithm of the source, which is typically the closing price of a trading instrument. It leverages a Gaussian function that exponentially decreases the further the price moves away from the mean, accounting for both positive and negative values. The bandwidth of the Gaussian function can be adjusted to adapt to different market conditions.
Additionally, the Adaptive Price Channel (log scale) features an array of 500 lines for each bar, which helps in defining the boundaries or envelope for price movements. The calculations are executed using the Nadaraya-Watson estimator, which uses kernel regression for non-parametric analysis.
The calculated values for the upper and lower bounds of the envelope are then converted back from the logarithmic scale using the exponential function. This calculation process continues for each bar until the last bar in the data set.
To ensure optimal performance, the Adaptive Price Channel (log scale) uses dynamic repainting. If the repainting mode is enabled, it adjusts the smoothing of the indicator for the entire historical data, making the results more accurate.
3. Visualization and Alerts
The Adaptive Price Channel (log scale) offers an array of visual aids, including labels and plots. The upper and lower bounds of the envelope are plotted, and the indicator triggers labels at points where the closing price crosses these boundaries. These labels serve as alerts for potential trading opportunities.
4. Conclusion
The Adaptive Price Channel (log scale) is an innovative and adaptable trading indicator, drawing inspiration from its predecessor but introducing unique features to increase its versatility. By providing a repainting option, it ensures consistent historical values, thereby enhancing the reliability of the indicator. Furthermore, the capability to operate on a logarithmic scale broadens its usability for different timeframes. The Adaptive Price Channel (log scale) is a powerful tool for any trader, facilitating a better understanding of market dynamics, and enabling more informed decision-making. Indicator
Edri Extreme Points Buy & SellEDRI EXTREME POINTS BUY & SELL INDICATOR
This Buy and Sell (non-repainting) indicator uses signals based on the combined CCI/Momentum and RSI indicators and optional regular divergence.
The idea of the indicator is to look for a potential reversal after the price reached extreme points (overbought or oversold) and signals an entry when the price shows signs of momentum for reversal.
Optionally, it considers finding a divergence while RSI is at the extreme levels to improve the predictability of a possible reversal.
Additionally, the indicator includes a simple Mean Reversion visual on the chart to assist users in identifying extreme price levels and potential reversal opportunities. It features upper and lower bands that can be optionally plotted, showing calculated values where price bounces at those extreme levels.
The purpose of these bands is to help traders avoid getting trapped in the middle of a trend and to guide them to buy low and sell high. (It's important to note that this is purely a visual aid and does not impact the generation of trade signals.)
By utilizing the Mean Reversion bands alongside the entry conditions, traders can gain insights into potential price reversals and make more informed decisions about when to enter or exit trades.
Buy and Sell Entry conditions:
• The indicator looks at the CCI/Momentum indicator to turn positive (if buy) or negative (if sell) after the RSI was overbought or oversold in the recent past.
• It also checks if there is a 3-period regular bullish divergence in the RSI (if buy), or regular bearish divergence (if sell) and consider these in the entry condition.
• If these conditions are met, this indicator suggests that it may be a good time to enter a trade.
In summary this is how this indicator works:
• The indicator takes input settings such as the choice between using CCI or Momentum as the entry signal source, length parameters for CCI/Momentum, RSI levels for overbought and oversold conditions, RSI length, and options to plot mean reversion bands on the chart.
• It calculates the CCI and Momentum and RSI values based on user-defined length..
• It checks for regular bullish and bearish divergences (3 periods) in the RSI if the option is enabled.
• The script plots shapes on the chart to indicate the buy and sell signals based on the entry conditions.
• If the mean reversion bands option is enabled, it calculates the mean reversion, standard deviation, upper band, and lower band values.
• It also plots the upper band, mean reversion line, and lower band on the chart if the mean reversion bands option is enabled.
• This indicator includes alert conditions to generate alerts for the buy and sell signals.
• On top of that, users can opt to use only one alert for both buy and sell signals. (This can save Trading view subscribers with limited alerts.)
Important! Please do not consider everything you read here as financial advice. Additionally, do not rely solely on indicators for making your trading decisions. It is important to note that no indicator or strategy is perfect. Therefore, it is always recommended to backtest everything and practice proper risk management.
I appreciate your feedback on this indicator. As I am new to script development, I am open to comments and suggestions to improve it. If you encounter any issues while using this indicator, please let me know in the comments section. If you find it helpful, I kindly ask for your support in boosting it. Thank you for your cooperation.
Indicator
Bjorgum Double Tap█ OVERVIEW
Double Tap is a pattern recognition script aimed at detecting Double Tops and Double Bottoms. Double Tap can be applied to the broker emulator to observe historical results, run as a trading bot for live trade alerts in real time with entry signals, take profit, and stop orders, or to simply detect patterns.
█ CONCEPTS
How Is A Pattern Defined?
Doubles are technical formations that are both reversal patterns and breakout patterns. These formations typically have a distinctive “M” or a “W” shape with price action breaking beyond the neckline formed by the center of the pattern. They can be recognized when a pivot fails to break when tested for a second time and the retracement that follows breaks beyond the key level opposite. This can trap entrants that were playing in the direction of the prior trend. Entries are made on the breakout with a target projected beyond the neckline equal to the height of the pattern.
Pattern Recognition
Patterns are recognized through the use of zig-zag; a method of filtering price action by connecting swing highs and lows in an alternating fashion to establish trend, support and resistance, or derive shapes from price action. The script looks for the highest or lowest point in a given number of bars and updates a list with the values as they form. If the levels are exceeded, the values are updated. If the direction changes and a new significant point is made, a new point is added to the list and the process starts again. Meanwhile, we scan the list of values looking for the distinctive shape to form as previously described.
█ STRATEGY RESULTS
Back Testing
Historical back testing is the most common method to test a strategy due in part to the general ease of gathering quick results. The underlying theory is that any strategy that worked well in the past is likely to work well in the future, and conversely, any strategy that performed poorly in the past is likely to perform poorly in the future. It is easy to poke holes in this theory, however, as for one to accept it as gospel, one would have to assume that future results will match what has come to pass. The randomness of markets may see to it otherwise, so it is important to scrutinize results. Some commonly used methods are to compare to other markets or benchmarks, perform statistical analysis on the results over many iterations and on differing datasets, walk-forward testing, out-of-sample analysis, or a variety of other techniques. There are many ways to interpret the results, so it is important to do research and gain knowledge in the field prior to taking meaningful conclusions from them.
👉 In short, it would be naive to place trust in one good backtest and expect positive results to continue. For this reason, results have been omitted from this publication.
Repainting
Repainting is simply the difference in behaviour of a strategy in real time vs the results calculated on the historical dataset. The strategy, by default, will wait for confirmed signals and is thus designed to not repaint. Waiting for bar close for entires aligns results in the real time data feed to those calculated on historical bars, which contain far less data. By doing this we align the behaviour of the strategy on the 2 data types, which brings significance to the calculated results. To override this behaviour and introduce repainting one can select "Recalculate on every tick" from the properties tab. It is important to note that by doing this alerts may not align with results seen in the strategy tester when the chart is reloaded, and thus to do so is to forgo backtesting and restricts a strategy to forward testing only.
👉 It is possible to use this script as an indicator as opposed to a full strategy by disabling "Use Strategy" in the "Inputs" tab. Basic alerts for detection will be sent when patterns are detected as opposed to complex order syntax. For alerts mid-bar enable "Recalculate on every tick" , and for confirmed signals ensure it is disabled.
█ EXIT ORDERS
Limit and Stop Orders
By default, the strategy will place a stop loss at the invalidation point of the pattern. This point is beyond the pattern high in the case of Double Tops, or beneath the pattern low in the case of Double Bottoms. The target or take profit point is an equal-legs measurement, or 100% of the pattern height in the direction of the pattern bias. Both the stop and the limit level can be adjusted from the user menu as a percentage of the pattern height.
Trailing Stops
Optional from the menu is the implementation of an ATR based trailing stop. The trailing stop is designed to begin when the target projection is reached. From there, the script looks back a user-defined number of bars for the highest or lowest point +/- the ATR value. For tighter stops the user can look back a lesser number of bars, or decrease the ATR multiple. When using either Alertatron or Trading Connector, each change in the trail value will trigger an alert to update the stop order on the exchange to reflect the new trail price. This reduces latency and slippage that can occur when relying on alerts only as real exchange orders fill faster and remain in place in the event of a disruption in communication between your strategy and the exchange, which ensures a higher level of safety.
👉 It is important to note that in the case the trailing stop is enabled, limit orders are excluded from the exit criteria. Rather, the point in time that the limit value is exceeded is the point that the trail begins. As such, this method will exit by stop loss only.
█ ALERTS
Five Built-in 3rd Party Destinations
The following are five options for delivering alerts from Double Tap to live trade execution via third party API solutions or chat bots to share your trades on social media. These destinations can be selected from the input menu and alert syntax will automatically configure in alerts appropriately to manage trades.
Custom JSON
JSON, or JavaScript Object Notation, is a readable format for structuring data. It is used primarily to transmit data between a server and a web application. In regards to this script, this may be a custom intermediary web application designed to catch alerts and interface with an exchange API. The JSON message is a trade map for an application to read equipped with where its been, where its going, targets, stops, quantity; a full diagnostic of the current state and its previous state. A web application could be configured to follow the messages sent in this format and conduct trades in sync with alerts running on the TV server.
Below is an example of a rendered JSON alert:
{
"passphrase": "1234",
"time": "2022-05-01T17:50:05Z",
"ticker": "ETHUSDTPERP",
"plot": {
"stop_price": 2600.15,
"limit_price": 3100.45
},
"strategy": {
"position_size": 0.1,
"order_action": "buy",
"market_position": "long",
"market_position_size": 0,
"prev_market_position": "flat",
"prev_market_position_size": 0
}
}
Trading Connector
Trading Connector is a third party fully autonomous Chrome extension designed to catch alert webhooks from PulseWire and interface with MT4/MT5 to execute live trades from your machine. Alerts to Trading Connector are simple; just select the destination from the input drop down menu, set your ticker in the "TC Ticker" box in the "Alert Strings" section and enter your URL in the alert window when configuring your alert.
Alertatron
Alertatron is an automated algo platform for cryptocurrency trading that is designed to automate your trading strategies. Although the platform is currently restricted to crypto, it offers a versatile interface with high flexibility syntax for complex market orders and conditions. To direct alerts to Alertatron, select the platform from the 3rd party drop down, configure your API key in the ”Alertatron Key” box and add your URL in the alert message box when making alerts.
3 Commas
3 Commas is an easy and quick to use click-and-go third party crypto API solution. Alerts are simple without overly complex syntax. Messages are simply pasted into alerts and executed as alerts are triggered. There are 4 boxes at the bottom of the "Inputs" tab where the appropriate messages to be placed. These messages can be copied from 3 Commas after the bots are set up and pasted directly into the settings menu. Remember to select 3 Commas as a destination from the third party drop down and place the appropriate URL in the alert message window.
Discord
Some may wish to share their trades with their friends in a Discord chat via webhook chat bot. Messages are configured to notify of the pattern type with targets and stop values. A bot can be configured through the integration menu in a Discord chat to which you have appropriate access. Select Discord from the 3rd party drop down menu and place your chat bot URL in the alert message window when configuring alerts.
👉 For further information regarding alert setup, refer to the platform specific instructions given by the chosen third party provider.
█ IMPORTANT NOTES
Setting Alerts
For alert messages to be properly delivered on order fills it is necessary to place the following placeholder in the alert message box when creating an alert.
{{strategy.order.alert_message}}
This placeholder will auto-populate the alert message with the appropriate syntax that is designated for the 3rd party selected in the user menu.
Order Sizing and Commissions
The values that are sent in alert messages are populated from live metrics calculated by the strategy. This means that the actual values in the "Properties" tab are used and must be set by the user. The initial capital, order size, commission, etc. are all used in the calculations, so it is important to set these prior to executing live trades. Be sure to set the commission to the values used by the exchange as well.
👉 It is important to understand that the calculations on the account size take place from the beginning of the price history of the strategy. This means that if historical results have inflated or depleted the account size from the beginning of trade history until now, the values sent in alerts will reflect the calculated size based on the inputs in the "Properties" tab. To start fresh, the user must set the date in the "Inputs" tab to the current date as to remove trades from the trade history. Failure to follow this instruction can result in an unexpected order size being sent in the alert.
█ FOR PINECODERS
• With the recent introduction of matrices in Pine, the script utilizes a matrix to track pivot points with the bars they occurred on, while tracking if that pivot has been traded against to prevent duplicate detections after a trade is exited.
• Alert messages are populated with placeholders ; capability that previously was only possible in alertcondition() , but has recently been extended to `strategy.*()` functions for use in the `alert_message` argument. This allows delivery of live trade values to populate in strategy alert messages.
• New arguments have been added to strategy.exit() , which allow differentiated messages to be sent based on whether the exit occurred at the stop or the limit. The new arguments used in this script are `alert_profit` and `alert_loss` to send messages to Discord Strategy
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