Indicator
Cipher Twister - Long and ShortINTRO / NOTES:
This script is based on Market Cipher B Oscillator by Falcon
The difference in this script is that only the useful points are printed on the indicator, namely Long and Short Trade Execution signals to be used by a bot, namely the PT Bot.
The script also differs from the original that it has been upgraded to Pinescript v4
This oscillator can be used with ALL time frames, but generally works the best on 15 minute and 1 hour charts on ANY market, no matter, stock, forex, crypto, spot, futures, derivatives, Nasdaq etc...
DEFINITIONS:
This oscillator forms the foundation of Buy and Exit of Long and Short Trades.
There are 2 'Red' Lines at the top of the channel and 2 Green Lines at the bottom of the channel.
These two channels are set at default to be +53 / -53 and +60 / -60 respectively. These two lines will serve as the threshold point if one is to make cautious trades only.
There is a center line which divides the Oscillator into two parts. Above the center line, the market is in over bought territory and Below the center line is in over sold territory.
'Red' dots are drawn by the indicator to represent a potential Short (or a signal to exit from a Long position)
'Green' dots are drawn by the indicator to represent a potential Long (or a signal to exit from a Short position)
The 'Red' and 'Green' dots are draw when a Cross between both wt1 & wt2 cross, thus providing a fantastic indication of potential trend reversal and entry/exit of a position.
STRATEGY NOTES:
The strategy to use this indicator with for realistic and proper results would be to use it with an automated Trading Bot such as Profit Trailer (PT-BOT)
You could use this strategy manually, however it would mean you would need to sit in front of the screen all day and night long and activate the trades immediately after the 'red'/'green' dots are drawn. Usually this will result in non-optimal entries and exits as well as loss on various instances when a 'red' and 'green' dot are printed close together (which is usually when the market goes into correction/consolidation) and slow entries/exits will result in a loss rather than a small profit or exit at BE (Break Even)
ACTUAL STRATEGY (For use with automated bot)
To be used in conjunction with Heikin Ashi Candles for added cautionary measures
For LONGs ONLY
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1/ When 'Green' dot is drawn, ACTIVATE Long Position
(Use 1.5% Risk Management for each trade)
(Use Lot size based on 1.5% risk management and xLeverage (if any))
2/ Make sure bot Opens an SL (Stop Loss) value based on 1.5% Risk Management
3/ When 'Red' dot is drawn, CLOSE Long Position.
*If you want to add extra caution to your trade, only activate the trade if the 'Green' dot is BELOW the 'Green' Markers
*For added caution, use color coded Heikin Ashi candles to 'confirm' Activation and Closing of a trade in the bot configuration
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For SHORTs ONLY
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1/ When 'Red' dot is drawn, ACTIVATE Short Position
(Use 1.5% Risk Management for each trade)
(Use Lot size based on 1.5% risk management and xLeverage (if any))
2/ Make sure bot Opens an SL (Stop Loss) value based on 1.5% Risk Management
3/ When 'Green' dot is drawn, CLOSE Short Position
*If you want to add extra caution to your trade, only activate the trade if the 'Red' dot is Above the Red Markers
*For added caution, use color coded Heikin Ashi candles to 'confirm' Activation and Closing of a trade in the bot configuration
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Supplementary Notes:
Make sure that your bot configuration will only activate ONE TRADE when the 'Green'/'Red' dot appears.
Occasionally during high volatility , 'red'/'green' dots will appear intermittently before remaining drawn, thus the oscillator 'redraws' the dots during market movement.
There will be times where occasionally a 'green' dot or a 'red' dot will appear, the trade will be opened, but the trade will fail due to the market manipulation (algorithm/market maker bots/fake volume etc), to wipe out those trading on derivatives and futures markets using leverage. Do not worry about this, no bot can make 100% wins, no strategy will achieve 100% win ratio and one necessarily doesn't need a high win ratio when using strict money management practices with your trading for SL and lot size.
If you use this method, you will see great results, but again I must stress, using this method with a fully automated bot is the only way to achieve proper results. Indicator
High/Low/Open/Close Daily, Weekly, Monthly Line
I wrote this for the purpose of saving time while marking up charts by automating the process of drawing and labeling lines at areas of interest on larger
timeframes while still having the option to change the style and size of the lines and labels to adjust for any timeframe and avoid a messy chart.
I also used this as an exercise in menu organization giving users every imaginable option and producing clean readable code.
- This indicator draws a line on the Daily, Weekly, and Monthly bar at the High, Low, Open and Close of each bar as price
tends to react when revisiting these areas.
- Each set of bars has an optional identifying label with its own color set that can be shown with or without the lines
price value, and has drop down menus for size and style of each set of labels.
- Each set of lines has inputs for line/text color, line width and style, and can be hidden if the user doesn't have the need for any particular timeframe.
- Lines and Labels with delete when a new line is created.
- I recommend going into Chart Settings/Status Line and turning off indicator arguments OR moving the script to the top
of the indicator list to avoid an obstructed chart view with this indicators arguments. When Pine allows, I will update it to hide them.
Contains some public domain code from T.V. manuals and tutorial for creating drop down input menus for options.
/ ~For My Pal Jittery~
~ Who likes his clean chart and custom colors~ Indicator
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Percentage Levels by TimeframePlots the positive and negative percentage levels from a selection of timeframes and sources for any ticker. You can use this within a pullback trading system. For example, if you historically look at the average pullback of large cap stocks and ETF's, you can use this indicator to plot the levels it could pullback to for an entry to go long. It can be used as potential targets when trading a ticker short. Another use for this is to backtest the set percentage targets using PulseWire's bar replay feature to see how ETF's and large cap stocks have reacted at these levels. Note: This is intended to be used at timeframes equal to higher than the chart's as it may cause re-painting issues.
Currently percentage levels are statically set to 1, 3, 5, 10, 15, 20, 25, and 30% levels above and below the chosen source (open, high, low, close). You can also display the data based on timeframes from Daily (1D) all the way up to Yearly (12M)
*Not financial advice but in my opinion the current percentage levels set (see above) are best used for ETF's and Large Cap Stocks.
Jan 2
Release Notes: Added the ability to select the historical bars to look back when plotting levels
Jan 2
Release Notes: To get a better display or proper resolution on your charts, change the view settings to "Scale Price Chart Only"
Jan 2
Release Notes: To add % labels for this indicator on the price axis, change your chart settings to include "Indicator Name Label" & "Indicator Last Value". You can find this under the Label section after hitting the gear icon in the bottom right of your chart.
Jan 2
Release Notes: Added: Custom Line Plot Extension Settings. Ideally both values should be equal to display optimal extended lines. To return to a base setting: '1' = Historical Lookback & '0' = Offset Lines. Also note this is dependent on the timeframe you are viewing on the chart.
Jan 2
Release Notes: Removed indicator from example chart that was not needed.
Jan 2
Release Notes: Updated some comments in the Pine Script
Jan 2
Release Notes: Update: Added commentary and instructions in the indicator settings to address recommended line plot settings for Stocks/ETF's vs Futures
Jan 2
Release Notes: Changed title from "Calculation Method" to "Calculation Source"
Jan 4 2021
Normal use of security() dictates that it only be used at timeframes equal to or higher than the chart's as it may cause re-painting Indicator
Indicator
DailyDeviationLibrary "DailyDeviation"
Helps in determining the relative deviation from the open of the day compared to the high or low values.
hlcDeltaArrays(daysPrior, maxDeviation, spec, res) Retuns a set of arrays representing the daily deviation of price for a given number of days.
Parameters:
daysPrior : Number of days back to get the close from.
maxDeviation : Maximum deviation before a value is considered an outlier. A value of 0 will not filter results.
spec : session.regular (default), session.extended or other time spec.
res : The resolution (default = '1440').
Returns: Where OH = Open vs High, OL = Open vs Low, and OC = Open vs Close
fromOpen(daysPrior, maxDeviation, comparison, spec, res) Retuns a value representing the deviation from the open (to the high or low) of the current day given number of days to measure from.
Parameters:
daysPrior : Number of days back to get the close from.
maxDeviation : Maximum deviation before a value is considered an outlier. A value of 0 will not filter results.
comparison : The value use in comparison to the current open for the day.
spec : session.regular (default), session.extended or other time spec.
res : The resolution (default = '1440'). Library
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DailyLevelsLibrary "DailyLevels"
Functions for acquiring daily timeframe data by number of prior days.
openD(daysPrior, spec, res) Gets the open for the number of days prior.
Parameters:
daysPrior : Number of days back to get the open from.
spec : session.regular (default), session.extended or other time spec.
res : The resolution (default = '1440').
Returns: The open for the number of days prior.
highD(daysPrior, extraForward, spec, res) Gets the highest value for the number of days prior.
Parameters:
daysPrior : Number of days back to get the high from.
extraForward : Number of extra days forward to include.
spec : session.regular (default), session.extended or other time spec.
res : The resolution (default = '1440').
Returns: The high for the number of days prior.
lowD(daysPrior, extraForward, spec, res) Gets the lowest value for the number of days prior.
Parameters:
daysPrior : Number of days back to get the low from.
extraForward : Number of extra days forward to include.
spec : session.regular (default), session.extended or other time spec.
res : The resolution (default = '1440').
Returns: The low for the number of days prior.
closeD(daysPrior, spec, res) Gets the close for the number of days prior.
Parameters:
daysPrior : Number of days back to get the open from. 0 produces the current close
spec : session.regular (default), session.extended or other time spec.
res : The resolution (default = '1440').
Returns: The close for the number of days prior.
hlc3D(daysPrior, extraForward, spec, res) Gets the HLC3 value for the number of days prior.
Parameters:
daysPrior : Number of days back to get the HLC3 from.
extraForward : Number of extra days forward to include. Determines the closing value.
spec : session.regular (default), session.extended or other time spec.
res : The resolution (default = '1440').
Returns: The HLC3 for the number of days prior. Library
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Light BalanceThe script is simple, going for a color scheme logic which tenderly avoids rigorous signals processing.
For the script to remain simple, logical derivatives are also out; as such, there are no secondary relations built off of primary ones. And it also ignores (unless you do this yourself) the logic in a varying order of lines.
Coloring has been done according to a limited set of relations between the four (4) plotted lines.
Quite a bit of information is capture, as you'll see when looking at line order, crossings, and transparency transitions and their patterns.
The approach makes the relations ones which can be learned over time; you become the algorithm to sort out signals. Ha ha. I know that sounds like a cop out doesn't it. Did I mention it's a simple script?
One thing you might want to play with right away are fills having red and green, and lime and fuchsia. It would be cool to reduce it all down to two (2) colors, but all the boolean relations might have to be listed, and it also may not be possible to cumulatively combine transparency overlays of the same value. Visually, that approach may not result to awaken a useful feature anyway. Also, fill() has its limitations in that it cannot be in a local scope; this includes function wrapped calls to fill(), or calls made using branching logic statements if/elseif, iff(), and var = (cond) ? t_val/exp : f_val/exp. So, to my knowledge, a fill() can not be made to be logically on/off.
Please, enjoy getting some use out of it.
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