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TOP
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Tops & Bottoms FinderIntroduction
I already shared a method to estimate tops and bottoms (1), the number of parameters could lead to optimization issues so i tried to make a simpler method. In this method i use a simple rescaling method based on individual direction deviation. I will explain further details below.
The Indicator
I use as source for the entire calculation an exponential moving average, the first reaction to this choice would be to think that i wanted to filter signals in order to reduce them, but the truth is that i wanted to have more signals instead, this is because the first calculations involving standard deviations are based on price direction, so by using a smooth input we can get more persistent values in a and b , but its totally up to you to use whatever you want in a , just take into account that less smooth = less signals, this is why i used this calculation process.
a = close and length = 7
a = least squares moving average and length = 25
So you could use pretty much everything you want as input.
Conclusion
The accuracy of such indicators is still relatively low but i presented a way to estimate tops and bottoms without using highest/lowest or differencing thus creating a totally new approach. I encourage you to experiment with it and share your results. If you learned something with this post then i'am happy :)
Notes
Based on several complaints i will have to leave even sooner, i think the 7 of June will be a good day, so if you need something i encourage you to ask me now. With the hope you can understand.
Thanks for reading !
(1)
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pipe_finder. Reversal Indicator for Pipe Top & Bottom Patterns.Simple indicator to find pipe bottom and top patterns.
Definition:
- Pipe Bottom:
- Positive Difference from Open and Close is greater than the average thickness of the last "x" candles multiplied by sensitivity "y"
- The previous candle is red and the current candle is green
- Trend Definition - (Trend for EMA length 'z" has a slope less than 0 or pointed downwards)
- The average of the current and previous candle's volume is greater than the average volume for the last "n" candles.
- Pipe Top:
- Positive Difference from Open and Close is greater than the average thickness of the last "x" candles multiplied by sensitivity "y"
- The previous candle is green and the current candle is red
- Trend Definition - (Trend for EMA length 'z" has a slope greater than 0 or pointed upwards)
- The average of the current and previous candle's volume is greater than the average volume for the last "n" candles.
Settings:
Sensitivity: How thick do the pipe candles have to be? (Greater sensitivity = more alerts)
Candle Thickness Average Period: The number of past candles used for measuring the average body size of candlestick.
Filter EMA Length: Length of the EMA used to filter between bull trends and bear trends.
Volume EMA Length: Length of the volume EMA.
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PorcupineDisplays "spike days" by colouring the bars (Default: yellow for a Spike High and blue for a Spike Low)
Spike Day's definition taken from Jack D Schwager's Book: A Complete Guide to the Futures Market: Technical Analysis, Trading Systems, Fundamental Analysis, Options, Spreads, and Trading Principles
A spike is:
A wide difference between the spike high and the highs of the preceding and succeeding days.
A close near the low of the day's range.
A substantial price advance preceding the spike's formation.
The more extreme each of these conditions, the greater the likelihood that a spike high will prove to be an important relative high or even a major top.
(inverse is true for lows, basically)
Enjoy!
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Tops/BottomsUsing Modified code from Lazybear's CVI 0.17% indicator and some logic, this script can help identify value buy and sell opportunities at a very early phase. Best used as a confirmation tool. This is a beta, so use it as such. Enjoy.
Sometimes "top" indications in an uptrend mean to look for an opportunity to add to position while "bottom" indications during a downtrend can represent the same thing. The trend is your friend, use it to your advantage!
Red star above bar == potential top
Green star below bar == potential bottom
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MACD Divergence MultiTimeFrame [FantasticFox]This is a MACD divergence on 3 time-frames, 1h, 4h and 1D.
Please insert the indicator into a 1h chart, otherwise change the lengths' inputs.
you will see H1,H2, H3, R1, R2 and R3 in green and maroon colors.
H means hidden divergence, 1 regards to 1h, 2 to 4h, and 3 to 1D. If the color is green, its bullish, and if its maroon the divergence is bearish.
Gray circles on 4h macd is for those traders who want to check the confirmation on Elliott wave changes.
*Thanks to RicardoSantos MACD divergence.
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Spinning TopsThis is my script for a spinning top. It is just another form of a doji. It is an indecision bar. Enjoy.
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UCS_Top & Bottom CandleThis is an experimental Indicator based on Momentum. Picks the Top & Bottom Candle for most Swing. Please post your opinion or suggestion to improve this indicator.
I have not back tested this completely. This is recently developed Indicator.
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