HiLo EMA Custom bandsHILo Ema custom bands
This advanced technical indicator is a powerful variation of "HiLo Ema squeeze bands" that combines the best elements of Donchian channels and EMAs. It's specially designed to identify price squeezes before significant market moves while providing dynamic support/resistance levels and predictive price targets.
Indicator Concept:
The indicator initializes EMAs at each new high or low - the upper EMA tracks highs while the lower EMA tracks lows. It draws maximum of 6 custom bands based on percentage, fixed value or Atr
Upper EM bands are drawn below uper ema, Lower EMA bands are drawn above lower ema
Customizable Options:
Ema length: 200 default
Calculation type: Ema (Default), HILO
Calculation type: Percent,Fixed Value, ATR
Band Value: Percent/Value/ATR multiple This is value to use for calculation type
Band Selection: Both,Upper,Lower
Key Features:
You can choose to draw either of one or both, the latter can be overwhelming initially but as you get used to it, it becomes a powerful tool.
When both bands are selected, upper and lower bands provide provides dual references and intersections
This creates a more trend-responsive alternative to traditional Donchian channels with clearly defined zones for trade planning.
If you select percaentage, note that the calulation is based FROM the respective EMA bands. So bands from lower EMA band will appear narrower compared to the those drawn from upper EMA band
Price targets or reversals:
Look of alignment of lines and price. The current level of one order could align with that of previous level of a different order because often markets move in steps
Settings Guide:
Recommended Settings:
Ema length: 200
Use one of the bands (not both) if using large length of say 1000
Calculation type: EMA
HILO will draw donchian like bands, this is useful if you only want flat price levels. In a rising market use upper and vise versa
Calculation type:
percentage for indices : 5, for symbols 10 or higher based on symbol volatility
Fixed value: about 10% of symbol value converted to value
Atr: 2 ideally
Perfect for swing traders and position traders looking for a more sophisticated volatility-based overlay that adapts to changing market conditions and provides predictive reversal levels.
Note: This indicator works well across multiple timeframes but is especially effective on H4, Daily and Weekly charts for trend trading.
Channeltrend
Auto Support Resistance Channels [TradingFinder] Top/Down Signal🔵 Introduction
In technical analysis, a price channel is one of the most widely used tools for identifying and tracking price trends. A price channel consists of two parallel trendlines, typically drawn from swing highs (resistance) and swing lows (support). These lines define dynamic support and resistance zones and provide a clear framework for interpreting price fluctuations.
Drawing a channel on a price chart allows the analyst to more precisely identify entry points, exit levels, take-profit zones, and stop-loss areas based on how the price behaves within the boundaries of the channel.
Price channels in technical analysis are generally categorized into three types: upward channels with a positive slope, downward channels with a negative slope, and horizontal (range-bound) channels with near-zero slope. Each type offers unique insights into market behavior depending on the price structure and prevailing trend.
Structurally, channels can be formed using either minor or major pivot points. A major channel typically reflects a stronger, more reliable structure that appears on higher timeframes, whereas a minor channel often captures short-term fluctuations or corrective movements within a larger trend.
For instance, a major downward channel may indicate sustained selling pressure across the market, while a minor upward channel could represent a temporary pullback within a broader bearish trend.
The validity of a price channel depends on several factors, including the number of price touches on the channel lines, the symmetry and parallelism of the trendlines, the duration of price movement within the channel, and price behavior around the median line.
When a price channel is broken, it is generally expected that the price will move in the breakout direction by at least the width of the channel. This makes price channels especially useful in breakout analysis.
In the following sections, we will explore the different types of price channels, how to draw them accurately, the structural differences between minor and major channels, and key trade interpretations when price interacts with channel boundaries.
Up Channel :
Down Channel :
🔵 How to Use
A price channel is a practical tool in technical analysis for identifying areas of support, resistance, trend direction, and potential breakout zones. The structure consists of two parallel trendlines within which price fluctuates.
Traders use the relative position of price within the channel to make informed trading decisions. The two primary strategies include range-based trades (buying low, selling high) and breakout trades (entering when price exits the channel).
🟣 Up Channel
In an upward channel, price moves within a positively sloped range. The lower trendline acts as dynamic support, while the upper trendline serves as dynamic resistance. A common strategy involves buying near the lower support and taking profit or selling near the upper resistance.
If price breaks below the lower trendline with strong volume or a decisive candle, it can signal a potential trend reversal. Channels constructed from major pivots generally reflect dominant uptrends, while those based on minor pivots are often corrective structures within a broader bearish movement.
🟣 Down Channel
In a downward channel, price moves between two negatively sloped lines. The upper trendline functions as resistance, and the lower trendline as support. Ideal entry for short trades occurs near the upper boundary, especially when confirmed by bearish price action or a resistance level.
Exit targets are typically located near the lower support. If the upper boundary is broken to the upside, it may be an early sign of a bullish trend reversal. Like upward channels, a major down channel represents broader selling pressure, while a minor one may indicate a brief retracement in a bullish move.
🟣 Range Channel
A horizontal or range-bound channel is characterized by price oscillating between two nearly flat lines. This type of channel typically appears during sideways markets or periods of consolidation.
Traders often buy near the lower boundary and sell near the upper boundary to take advantage of contained volatility. However, fake breakouts are more frequent in range-bound structures, so it is important to wait for confirmation through candlestick signals and volume. A confirmed breakout beyond the channel boundaries can justify entering a trade in the direction of the breakout.
🔵 Settings
Pivot Period :This parameter defines how sensitive the channel detection is. A higher value causes the algorithm to identify major pivot points, resulting in broader and longer-term channels. Lower values focus on minor pivots and create tighter, short-term channels.
🔔 Alerts
Alert Configuration :
Enable or disable the full alert system
Set a custom alert name
Choose the alert frequency: every time, once per bar, or on bar close
Define the time zone for alert timestamps (e.g., UTC)
Channel Alert Types :
Each channel type (Major/Minor, Internal/External, Up/Down) supports two alert types :
Break Alert : Triggered when price breaks above or below the channel boundaries
React Alert : Triggered when price touches and reacts (bounces) off the channel boundary
🎨 Display Settings
For each of the eight channel types, you can customize:
Visibility : show or hide the channel
Auto-delete previous channels when new ones are drawn
Style : line color, thickness, type (solid, dashed, dotted), extension (right only, both sides)
🔵 Conclusion
The price channel is a foundational structure in technical analysis that enables traders to analyze price movement, identify dynamic support and resistance zones, and locate potential entry and exit points with greater precision.
When constructed properly using minor or major pivots, a price channel offers a consistent and intuitive framework for interpreting market behavior—often simpler and more visually clear than many other technical tools.
Understanding the differences between upward, downward, and range-bound channels—as well as recognizing the distinctions between minor and major structures—is critical for selecting the right trading strategy. Upward channels tend to generate buying opportunities, downward channels prioritize short setups, and horizontal channels provide setups for both mean-reversion and breakout trades.
Ultimately, the reliability of a price channel depends on various factors such as the number of touchpoints, the duration of the channel, the parallelism of the lines, and how the price reacts to the median line.
By taking these factors into account, an experienced analyst can effectively use price channels as a powerful tool for trend forecasting and precise trade execution. Although conceptually simple, successful application of price channels requires practice, pattern recognition, and the ability to filter out market noise.
[COG]Adaptive Volatility Bands# Adaptive Volatility Bands (AVB) Indicator Guide for Traders
## Special Acknowledgment 🙌
This script is inspired by and builds upon the foundational work of **DonovanWall**, a respected contributor to the trading community. His innovative approach to adaptive indicators has been instrumental in developing this advanced trading tool.
## What is the Adaptive Volatility Bands Indicator?
The Adaptive Volatility Bands (AVB) is a sophisticated technical analysis tool designed to help traders understand market dynamics by creating dynamic, responsive price channels that adapt to changing market conditions. Unlike traditional static indicators, this script uses advanced mathematical techniques to create flexible bands that adjust to market volatility in real-time.
## Key Features and Inputs
### 1. Price and Filtering Options
- **Price Source**: Determines the base price used for calculations (default is HLC3 - Average of High, Low, and Close)
- **Filter Poles**: Controls the smoothness of the indicator (1-9 poles)
- Lower values: More responsive, more noise
- Higher values: Smoother, but slower to react
### 2. Volatility and Band Settings
- **Sample Length**: Determines how many bars are used to calculate volatility (default 144)
- **Volatility Multiplier**: Adjusts the width of the main bands (default 1.414)
- **Outer Band Multiplier**: Controls the width of the outer bands (default 2.5)
- **Inner Band Ratio**: Positions the inner bands between the center and outer bands (default 0.25)
### 3. Advanced Processing Options
- **Lag Reduction Mode**: Helps reduce indicator delay
- **Fast Response Mode**: Makes the indicator more responsive to recent price changes
### 4. Signal and Visualization Options
- **Show Entry Signals**: Displays buy and sell signals
- **Signal Display Style**: Choose between labels or shapes
- **Range Filter**: Adds an additional filter for signal validation
## How the Indicator Works
The Adaptive Volatility Bands create a dynamic price channel with three key components:
1. **Center Line**: Represents the core trend direction
2. **Inner Bands**: Closer to the center line
3. **Outer Bands**: Wider bands that show broader price potential
### Color Dynamics
- The indicator uses a smart color gradient system
- Colors change based on price position within the bands
- Helps visualize bullish (green/blue) and bearish (red) market conditions
## Trading Strategies for Beginners
### Basic Entry Signals
- **Buy Signal**:
- Price touches the center line from below
- Candle is bullish (closes higher than it opens)
- Price is above the center line
- Trend is upward
- **Sell Signal**:
- Price touches the center line from above
- Candle is bearish (closes lower than it opens)
- Price is below the center line
- Trend is downward
### Risk Management Tips
1. Use the bands to identify:
- Potential trend changes
- Volatility levels
- Support and resistance areas
2. Combine with other indicators for confirmation
3. Always use stop-loss orders
4. Adjust parameters to match your trading style and asset
## When to Use This Indicator
Best suited for:
- Trending markets
- Swing trading
- Identifying potential entry and exit points
- Understanding market volatility
### Recommended Markets
- Stocks
- Forex
- Cryptocurrencies
- Futures
## Customization
The script offers extensive customization:
- Adjust smoothness
- Change band multipliers
- Modify color schemes
- Enable/disable features like lag reduction
## Important Considerations for Beginners
🚨 **Disclaimer**:
- No indicator guarantees profits
- Always practice with a demo account first
- Learn and understand the indicator before live trading
- Market conditions change, so continually adapt your strategy
## Getting Started
1. Add the script to your TradingView chart
2. Experiment with different settings
3. Backtest on historical data
4. Start with small positions
5. Continuously learn and improve
Happy Trading! 📈🔍
Range Breakout [BigBeluga]Range Breakout is a dynamic channel-based indicator designed to identify breakout opportunities and price reactions within defined ranges. It automatically creates upper and lower bands with a midline, helping traders spot breakout zones, retests, and potential fakeouts.
🔵 Key Features:
Dynamic Channel Formation:
Automatically plots upper and lower channel bands with a midline based on ATR calculations.
Channels adjust upon breakout events or after a predefined number of bars to reflect new price ranges.
Breakout Detection:
Green circles appear when price breaks above the upper channel edge.
Red circles appear when price breaks below the lower channel edge.
A new channel is formed after each breakout, allowing traders to monitor evolving price ranges.
Retest Signals:
Upward-pointing green triangles signal a retest of the lower band, indicating potential support.
Downward-pointing red triangles indicate a retest of the upper band, suggesting possible resistance.
Filter Signals by Trends (New Feature):
Optional toggle to filter ▲ and ▼ signals based on channel breakout conditions.
When enabled:
In a bullish channel (confirmed by a green circle breakout), only ▲ signals are displayed.
In a bearish channel (confirmed by a red circle breakout), only ▼ signals are displayed.
Helps traders align retest signals with the prevailing trend for higher-quality trade setups.
Fakeout Identification:
'X' symbols appear when price breaks the upper or lower edge of the channel and quickly returns back inside.
Helps traders identify and avoid false breakouts.
🔵 Usage:
Breakout Trading: Use the green and red circle signals to identify potential breakout trades.
Retest Confirmation: Look for triangle markers to confirm retests of key levels, aiding in entry or exit decisions.
Fakeout Alerts: Utilize the 'X' signals to spot and avoid potential trap moves.
Dynamic Range Monitoring: Stay aware of changing market conditions with automatically updating channels.
Range Breakout is an essential tool for traders seeking to capitalize on range breakouts, retests, and fakeout scenarios. Its dynamic channels and clear visual signals provide a comprehensive view of market structure and potential trade setups.
Price Step Channel [BigBeluga]Price Step Channel is designed to provide a structured look at price trends through a dynamic step line channel, highlighting trend direction and volatility boundaries.
🔵 Key Features:
Step Line with Boundaries: The central step line adjusts with price movements, creating upper and lower boundaries based on price volatility. The channel is green during uptrends and red during downtrends, visually signaling the trend’s direction.
Fakeout Markers: "✖" markers identify potential fakeouts—moments when the price breaches the channel boundary without confirming a trend change. These markers help you spot possible mean reversion points.
Dynamic Boundary Labels: Labels at the end of the channel show the price levels of the upper and lower boundaries. In uptrends, the upper label turns green; in downtrends, the lower label turns red, providing an instant read on the trend's direction.
Customizable Display: You can toggle off the boundaries and labels for a cleaner view, focusing only on the step line and its color-coded trend signals.
🔵 When to Use:
Price Step Channel is ideal for traders looking to follow structured trends with defined volatility boundaries. The step line and color-coded channel provide clear trend insights, while the fakeout markers and customizable display options enhance flexibility in different market conditions. Whether you’re focusing on clean trend signals or detailed boundary interactions, this tool adapts to your style.
Half-Trend Channel [BigBeluga]Half Trend Channel is a powerful trend-following indicator designed to identify trend direction, fakeouts, and potential reversal points. The combination of upper/lower bands, midline coloring, and specific signals makes it ideal for spotting trend continuation and market reversals.
The base of the channel is calculated using smoothed half-trend logic.
// Initialize half trend on the first bar
if barstate.isfirst
hl_t := close
// Update half trend value based on conditions
switch
closeMA < hl_t and highestHigh < hl_t => hl_t := highestHigh
closeMA > hl_t and lowestLow > hl_t => hl_t := lowestLow
=> hl_t := hl_t
// Smooth
float s_hlt = ta.hma(hl_t, len)
🔵 Key Features:
Upper and Lower Bands:
The bands adapt dynamically to market volatility.
Price movements toward the bands help identify areas of overextension and potential reversal points.
Midline Trend Signal:
The midline changes color to reflect the current trend:
Green Midline: Indicates an uptrend.
Purple Midline: Signals a downtrend.
Fakeout Signals ("X"):
"X" markers appear when price briefly breaches the outer bands but fails to sustain the move.
Fakeouts help traders identify areas where price momentum weakens.
Reversal Signals (Triangles):
Triangles (▲ and ▼) mark potential tops and bottoms:
▲ Up Triangles: Suggest a potential bottom and a reversal to the upside.
▼ Down Triangles: Indicate a potential top and a reversal to the downside.
Dynamic Trend Labels:
At the last bar, the indicator displays labels like "Trend Up" or "Trend Dn" , reflecting the current trend direction.
🔵 Usage:
Use the colored midline to determine the overall trend direction.
Monitor "X" fakeout signals to spot failed breakouts or momentum exhaustion near the bands.
Watch for reversal triangles (▲ and ▼) to identify potential trend reversals at tops or bottoms.
Combine the bands and midline signals to confirm trade entries and exits:
Enter long trades when price bounces off the lower band with a green midline.
Consider short trades when price reverses from the upper band with a purple midline.
Use the trend label (e.g., "Trend Up" or "Trend Dn") for quick confirmation of the current market state.
The Half Trend Channel is an essential tool for traders who want to follow trends, avoid fakeouts, and identify reliable tops and bottoms to optimize their trading decisions.
Linear Regression Channel [TradingFinder] Existing Trend Line🔵 Introduction
The Linear Regression Channel indicator is one of the technical analysis tool, widely used to identify support, resistance, and analyze upward and downward trends.
The Linear Regression Channel comprises five main components : the midline, representing the linear regression line, and the support and resistance lines, which are calculated based on the distance from the midline using either standard deviation or ATR.
This indicator leverages linear regression to forecast price changes based on historical data and encapsulates price movements within a price channel.
The upper and lower lines of the channel, which define resistance and support levels, assist traders in pinpointing entry and exit points, ultimately aiding better trading decisions.
When prices approach these channel lines, the likelihood of interaction with support or resistance levels increases, and breaking through these lines may signal a price reversal or continuation.
Due to its precision in identifying price trends, analyzing trend reversals, and determining key price levels, the Linear Regression Channel indicator is widely regarded as a reliable tool across financial markets such as Forex, stocks, and cryptocurrencies.
🔵 How to Use
🟣 Identifying Entry Signals
One of the primary uses of this indicator is recognizing buy signals. The lower channel line acts as a support level, and when the price nears this line, the likelihood of an upward reversal increases.
In an uptrend : When the price approaches the lower channel line and signs of upward reversal (e.g., reversal candlesticks or high trading volume) are observed, it is considered a buy signal.
In a downtrend : If the price breaks the lower channel line and subsequently re-enters the channel, it may signal a trend change, offering a buying opportunity.
🟣 Identifying Exit Signals
The Linear Regression Channel is also used to identify sell signals. The upper channel line generally acts as a resistance level, and when the price approaches this line, the likelihood of a price decrease increases.
In an uptrend : Approaching the upper channel line and observing weakness in the uptrend (e.g., declining volume or reversal patterns) indicates a sell signal.
In a downtrend : When the price reaches the upper channel line and reverses downward, this is considered a signal to exit trades.
🟣 Analyzing Channel Breakouts
The Linear Regression Channel allows traders to identify price breakouts as strong signals of potential trend changes.
Breaking the upper channel line : Indicates buyer strength and the likelihood of a continued uptrend, often accompanied by increased trading volume.
Breaking the lower channel line : Suggests seller dominance and the possibility of a continued downtrend, providing a strong sell signal.
🟣 Mean Reversion Analysis
A key concept in using the Linear Regression Channel is the tendency for prices to revert to the midline of the channel, which acts as a dynamic moving average, reflecting the price's equilibrium over time.
In uptrends : Significant deviations from the midline increase the likelihood of a price retracement toward the midline.
In downtrends : When prices deviate considerably from the midline, a return toward the midline can be used to identify potential reversal points.
🔵 Settings
🟣 Time Frame
The time frame setting enables users to view higher time frame data on a lower time frame chart. This feature is especially useful for traders employing multi-time frame analysis.
🟣 Regression Type
Standard : Utilizes classical linear regression to draw the midline and channel lines.
Advanced : Produces similar results to the standard method but may provide slightly different alignment on the chart.
🟣 Scaling Type
Standard Deviation : Suitable for markets with stable volatility.
ATR (Average True Range) : Ideal for markets with higher volatility.
🟣 Scaling Coefficients
Larger coefficients create broader channels for broader trend analysis.
Smaller coefficients produce tighter channels for precision analysis.
🟣 Channel Extension
None : No extension.
Left: Extends lines to the left to analyze historical trends.
Right : Extends lines to the right for future predictions.
Both : Extends lines in both directions.
🔵 Conclusion
The Linear Regression Channel indicator is a versatile and powerful tool in technical analysis, providing traders with support, resistance, and midline insights to better understand price behavior. Its advanced settings, including time frame selection, regression type, scaling options, and customizable coefficients, allow for tailored and precise analysis.
One of its standout advantages is its ability to support multi-time frame analysis, enabling traders to view higher time frame data within a lower time frame context. The option to use scaling methods like ATR or standard deviation further enhances its adaptability to markets with varying volatility.
Designed to identify entry and exit signals, analyze mean reversion, and assess channel breakouts, this indicator is suitable for a wide range of markets, including Forex, stocks, and cryptocurrencies. By incorporating this tool into your trading strategy, you can make more informed decisions and improve the accuracy of your market predictions.
Fibonacci Bands [BigBeluga]The Fibonacci Band indicator is a powerful tool for identifying potential support, resistance, and mean reversion zones based on Fibonacci ratios. It overlays three sets of Fibonacci ratio bands (38.2%, 61.8%, and 100%) around a central trend line, dynamically adapting to price movements. This structure enables traders to track trends, visualize potential liquidity sweep areas, and spot reversal points for strategic entries and exits.
🔵 KEY FEATURES & USAGE
Fibonacci Bands for Support & Resistance:
The Fibonacci Band indicator applies three key Fibonacci ratios (38.2%, 61.8%, and 100%) to construct dynamic bands around a smoothed price. These levels often act as critical support and resistance areas, marked with labels displaying the percentage and corresponding price. The 100% band level is especially crucial, signaling potential liquidity sweep zones and reversal points.
Mean Reversion Signals at 100% Bands:
When price moves above or below the 100% band, the indicator generates mean reversion signals.
Trend Detection with Midline:
The central line acts as a trend-following tool: when solid, it indicates an uptrend, while a dashed line signals a downtrend. This adaptive midline helps traders assess the prevailing market direction while keeping the chart clean and intuitive.
Extended Price Projections:
All Fibonacci bands extend to future bars (default 30) to project potential price levels, providing a forward-looking perspective on where price may encounter support or resistance. This feature helps traders anticipate market structure in advance and set targets accordingly.
Liquidity Sweep:
--
-Liquidity Sweep at Previous Lows:
The price action moves below a previous low, capturing sell-side liquidity (stop-losses from long positions or entries for breakout traders).
The wick suggests that the price quickly reversed, leaving a failed breakout below support.
This is a classic liquidity grab, often indicating a bullish reversal .
-Liquidity Sweep at Previous Highs:
The price spikes above a prior high, sweeping buy-side liquidity (stop-losses from short positions or breakout entries).
The wick signifies rejection, suggesting a failed breakout above resistance.
This is a bearish liquidity sweep , often followed by a mean reversion or a downward move.
Display Customization:
To declutter the chart, traders can choose to hide Fibonacci levels and only display overbought/oversold zones along with the trend-following midline and mean reversion signals. This option enables a clearer focus on key reversal areas without additional distractions.
🔵 CUSTOMIZATION
Period Length: Adjust the length of the smoothed moving average for more reactive or smoother bands.
Channel Width: Customize the width of the Fibonacci channel.
Fibonacci Ratios: Customize the Fibonacci ratios to reflect personal preference or unique market behaviors.
Future Projection Extension: Set the number of bars to extend Fibonacci bands, allowing flexibility in projecting price levels.
Hide Fibonacci Levels: Toggle the visibility of Fibonacci levels for a cleaner chart focused on overbought/oversold regions and midline trend signals.
Liquidity Sweep: Toggle the visibility of Liquidity Sweep points
The Fibonacci Band indicator provides traders with an advanced framework for analyzing market structure, liquidity sweeps, and trend reversals. By integrating Fibonacci-based levels with trend detection and mean reversion signals, this tool offers a robust approach to navigating dynamic price action and finding high-probability trading opportunities.
FRAMA Channel [BigBeluga]This is a trend-following indicator that utilizes the Fractal Adaptive Moving Average (FRAMA) to create a dynamic channel around the price. The FRAMA Channel helps identify uptrends, downtrends, and ranging markets by examining the relationship between the price and the channel's boundaries. It also marks trend changes with arrows, optionally displaying either price values or average volume at these key points.
🔵 IDEA
The core idea behind the FRAMA Channel indicator is to use the fractal nature of markets to adapt to different market conditions. By creating a channel around the FRAMA line, it not only tracks price trends but also adapts its sensitivity based on market volatility. When the price crosses the upper or lower bands of the channel, it signals a potential shift in trend direction. If the price remains within the channel and crosses over the upper or lower bands without a breakout, the market is likely in a ranging phase with low momentum. This adaptive approach makes the FRAMA Channel effective in both trending and ranging market environments.
🔵 KEY FEATURES & USAGE
◉ Dynamic FRAMA Channel with Trend Signals:
The FRAMA Channel uses a fractal-based moving average to create an adaptive channel around the price. When the price crosses above the upper band, it signals an uptrend and plots an upward arrow with the price (or average volume) value. Conversely, when the price crosses below the lower band, it signals a downtrend and marks the point with a downward arrow. This dynamic adaptation to market conditions helps traders identify key trend shifts effectively.
◉ Ranging Market Detection:
If the price remains within the channel, and only the high crosses the upper band or the low crosses the lower band, the indicator identifies a ranging market with low momentum. In this case, the channel turns gray, signaling a neutral trend. This is particularly useful for avoiding false signals during periods of market consolidation.
◉ Color-Coded Candles and Channel Bands:
Candles and channel bands are color-coded to reflect the current trend direction. Green indicates an upward trend, blue shows a downward trend, and gray signals a neutral or ranging market. This visual representation makes it easy to identify the market condition at a glance, helping traders make informed decisions quickly.
◉ Customizable Display of Price or Average Volume:
On trend change signals, the indicator allows users to choose whether to display the price at the point of trend change or the average volume of 10 bars. This flexibility enables traders to focus on the information that is most relevant to their strategy, whether it's the exact price entery or the volume context of the market shift. Displaying the average volume allows to see the strength of the trend change.
Price Data:
Average Volume of points:
🔵 CUSTOMIZATION
Length & Bands Distance: Adjust the length for the FRAMA calculation to control the sensitivity of the channel. A shorter length makes the channel more reactive to price changes, while a longer length smooths it out. The Bands Distance setting determines how far the bands are from the FRAMA line, helping to define the breakout and ranging conditions.
Signals Data: Choose between displaying the price or the average volume on trend change arrows. This allows traders to focus on either the exact price level of trend change or the market volume context.
Color Settings: Customize the colors for upward momentum, downward momentum, and neutral states to suit your charting preferences. You can also toggle whether to color the candles based on the momentum for a clearer visual of the trend direction.
The FRAMA Channel indicator adapts to market conditions, providing a versatile tool for identifying trends and ranging markets with clear visual cues.
Holt-Winters Forecast BandsDescription:
The Holt-Winters Adaptive Bands indicator combines seasonal trend forecasting with adaptive volatility bands. It uses the Holt-Winters triple exponential smoothing model to project future price trends, while Nadaraya-Watson smoothed bands highlight dynamic support and resistance zones.
This indicator is ideal for traders seeking to predict future price movements and visualize potential market turning points. By focusing on broader seasonal and trend data, it provides insight into both short- and long-term market directions. It’s particularly effective for swing trading and medium-to-long-term trend analysis on timeframes like daily and 4-hour charts, although it can be adjusted for other timeframes.
Key Features:
Holt-Winters Forecast Line: The core of this indicator is the Holt-Winters model, which uses three components — level, trend, and seasonality — to project future prices. This model is widely used for time-series forecasting, and in this script, it provides a dynamic forecast line that predicts where price might move based on historical patterns.
Adaptive Volatility Bands: The shaded areas around the forecast line are based on Nadaraya-Watson smoothing of historical price data. These bands provide a visual representation of potential support and resistance levels, adapting to recent volatility in the market. The bands' fill colors (red for upper and green for lower) allow traders to identify potential reversal zones without cluttering the chart.
Dynamic Confidence Levels: The indicator adapts its forecast based on market volatility, using inputs such as average true range (ATR) and price deviations. This means that in high-volatility conditions, the bands may widen to account for increased price movements, helping traders gauge the current market environment.
How to Use:
Forecasting: Use the forecast line to gain insight into potential future price direction. This line provides a directional bias, helping traders anticipate whether the price may continue along a trend or reverse.
Support and Resistance Zones: The shaded bands act as dynamic support and resistance zones. When price enters the upper (red) band, it may be in an overbought area, while the lower (green) band may indicate oversold conditions. These bands adjust with volatility, so they reflect the current market conditions rather than fixed levels.
Timeframe Recommendations:
This indicator performs best on daily and 4-hour charts due to its reliance on trend and seasonality. It can be used on lower timeframes, but accuracy may vary due to increased price noise.
For traders looking to capture swing trades, the daily and 4-hour timeframes provide a balance of trend stability and signal reliability.
Adjustable Settings:
Alpha, Beta, and Gamma: These settings control the level, trend, and seasonality components of the forecast. Alpha is generally the most sensitive setting for adjusting responsiveness to recent price movements, while Beta and Gamma help fine-tune the trend and seasonal adjustments.
Band Smoothing and Deviation: These settings control the lookback period and width of the volatility bands, allowing users to customize how closely the bands follow price action.
Parameters:
Prediction Length: Sets the length of the forecast, determining how far into the future the prediction line extends.
Season Length: Defines the seasonality cycle. A setting of 14 is typical for bi-weekly cycles, but this can be adjusted based on observed market cycles.
Alpha, Beta, Gamma: These parameters adjust the Holt-Winters model's sensitivity to recent prices, trends, and seasonal patterns.
Band Smoothing: Determines the smoothing applied to the bands, making them either more reactive or smoother.
Ideal Use Cases:
Swing Trading and Trend Following: The Holt-Winters model is particularly suited for capturing larger market trends. Use the forecast line to determine trend direction and the bands to gauge support/resistance levels for potential entries or exits.
Identifying Reversal Zones: The adaptive bands act as dynamic overbought and oversold zones, giving traders potential reversal areas when price reaches these levels.
Important Notes:
No Buy/Sell Signals: This indicator does not produce direct buy or sell signals. It’s intended for visual trend analysis and support/resistance identification, leaving trade decisions to the user.
Not for High-Frequency Trading: Due to the nature of the Holt-Winters model, this indicator is optimized for higher timeframes like the daily and 4-hour charts. It may not be suitable for high-frequency or scalping strategies on very short timeframes.
Adjust for Volatility: If using the indicator on lower timeframes or more volatile assets, consider adjusting the band smoothing and prediction length settings for better responsiveness.
Jurik Price Bands and Range Box [BigBeluga]Jurik Price Bands and Range Box
The Jurik Price Bands and Range Box - BigBeluga indicator is an advanced technical analysis tool that combines Jurik Moving Average (JMA) based price bands with a dynamic range box. This versatile indicator is designed to help traders identify trends, potential reversal points, and price ranges over a specified period.
🔵 KEY FEATURES
● Jurik Price Bands
Utilizes Jurik Moving Average for smoother, more responsive bands
//@function Calculates Jurik Moving Average
//@param src (float) Source series
//@param len (int) Length parameter
//@param ph (int) Phase parameter
//@returns (float) Jurik Moving Average value
jma(src, len, ph) =>
var float jma = na
var float e0 = 0.0
var float e1 = 0.0
var float e2 = 0.0
phaseRatio = ph < -100 ? 0.5 : ph > 100 ? 2.5 : ph / 100 + 1.5
beta = 0.45 * (len - 1) / (0.45 * (len - 1) + 2)
alpha = math.pow(beta, phaseRatio)
e0 := (1 - alpha) * src + alpha * nz(e0 )
e1 := (src - e0) * (1 - beta) + beta * nz(e1 )
e2 := (e0 + phaseRatio * e1 - nz(jma )) * math.pow(1 - alpha, 2) + math.pow(alpha, 2) * nz(e2 )
jma := e2 + nz(jma )
jma
Consists of an upper band, lower band, and a smooth price line
Bands adapt to market volatility using Jurik MA on ATR
Helps identify potential trend reversal points and overextended market conditions
● Dynamic Range Box
Displays a box representing the price range over a specified period
Calculates high, low, and mid-range prices
Option for adaptive mid-range calculation based on average price
Provides visual representation of recent price action and volatility
● Price Position Indicator
Shows current price position relative to the mid-range
Displays percentage difference from mid-range
Color-coded for quick trend identification
● Dashboard
Displays key information including current price, range high, mid, and low
Shows trend direction based on price position relative to mid-range
Provides at-a-glance market context
🔵 HOW TO USE
● Trend Identification
Use the middle of the Range Box as the primary trend reference point
Price above the middle of the Range Box indicates an uptrend
Price below the middle of the Range Box indicates a downtrend
The bar on the right shows the percentage distance of the close from the middle of the box
This percentage indicates both trend direction and strength
Refer to the dashboard for quick trend direction confirmation
● Potential Reversal Points
Upper and lower Jurik Bands can indicate potential trend reversal points
Price reaching or exceeding these bands may suggest overextended conditions
Watch for price reaction at these levels for possible trend shifts or pullbacks
Range Box high and low can serve as additional reference points for price action
● Range Analysis
Use Range Box to gauge recent price volatility and trading range
Mid-range line can act as a pivot point for short-term price movements
Percentage difference from mid-range helps quantify price position strength
🔵 CUSTOMIZATION
The Jurik Price Bands and Range Box indicator offers several customization options:
Adjust Range Box length for different timeframe analysis
Toggle between standard and adaptive mid-range calculation
Standard:
Adaptive:
Modify Jurik MA length and deviation for band calculation
Toggle visibility of Jurik Bands
By fine-tuning these settings, traders can adapt the indicator to various market conditions and personal trading strategies.
The Jurik Price Bands and Range Box indicator provides a multi-faceted approach to market analysis, combining trend identification, potential reversal point detection, and range analysis in one comprehensive tool. The use of Jurik Moving Average offers a smoother, more responsive alternative to traditional moving averages, potentially providing more accurate signals.
This indicator can be particularly useful for traders looking to understand market context quickly, identify potential reversal points, and assess current market volatility. The combination of dynamic bands, range analysis, and the informative dashboard provides traders with a rich set of data points to inform their trading decisions.
As with all technical indicators, it's recommended to use the Jurik Price Bands and Range Box in conjunction with other forms of analysis and within the context of a well-defined trading strategy. While this indicator provides valuable insights, it should be considered alongside other factors such as overall market conditions, volume, and fundamental analysis when making trading decisions.
Support/Resistance v2 (ML) KmeanKmean with Standard Deviation Channel
1. Description of Kmean
Kmean (or K-means) is a popular clustering algorithm used to divide data into K groups based on their similarity. In the context of financial markets, Kmean can be applied to find the average price values over a specific period, allowing the identification of major trends and levels of support and resistance.
2. Application in Trading
In trading, Kmean is used to smooth out the price series and determine long-term trends. This helps traders make more informed decisions by avoiding noise and short-term fluctuations. Kmean can serve as a baseline around which other analytical tools, such as channels and bands, are constructed.
3. Description of Standard Deviation (stdev)
Standard deviation (stdev) is a statistical measure that indicates how much the values of data deviate from their mean value. In finance, standard deviation is often used to assess price volatility. A high standard deviation indicates strong price fluctuations, while a low standard deviation indicates stable movements.
4. Combining Kmean and Standard Deviation to Predict Short-Term Price Behavior
Combining Kmean and standard deviation creates a powerful tool for analyzing market conditions. Kmean shows the average price trend, while the standard deviation channels demonstrate the boundaries within which the price can fluctuate. This combination helps traders to:
Identify support and resistance levels.
Predict potential price reversals.
Assess risks and set stop-losses and take-profits.
Should you have any questions about code, please reach me at Tradingview directly.
Hope you find this script helpful!
Linear Regression Channel 200█ OVERVIEW
This a simplified version of linear regression channel which use length 200 instead of traditional length 100.
█ FEATURES
Color change depends light / dark mode.
█ LIMITATIONS
Limited to source of closing price and max bars back is 1500.
█ SIMILAR
Regression Channel Alternative MTF
Regression Channel Alternative MTF V2
Linear Regression MTF + Bands
Multiple Time Frames (MTFs): The indicator allows you to view linear regression trends over three different time frames (TF1, TF2, TF3) simultaneously. This means a trader can observe short, medium, and long-term trends on a single chart, which is valuable for understanding overall market direction and making cross-timeframe comparisons.
Linear Regression Bands: For each time frame, the indicator calculates linear regression bands. These bands represent the expected price range based on past prices. The middle line is the linear regression line, and the upper and lower lines are set at a specified deviation from this line. Traders can use these bands to spot potential overbought or oversold conditions, or to anticipate future price movements.
History Bands: Looking at linear regression channels can be deceiving if the user does not understand the calculation. In order to see where the channel was at in history the user can display the history bands to see where price actual was in a non-repainting fashion.
Customization Options: Traders can customize various aspects of the indicator, such as whether to display each time frame, the length of the linear regression (how many past data points it considers), and the deviation for the bands. This flexibility allows traders to adapt the indicator to their specific trading style and the asset they are analyzing.
Alerts: The script includes functionality to set alerts based on the price crossing the upper or lower bands of any time frame. This feature helps traders to be notified of potential trading opportunities or risks without constantly monitoring the chart.
Examples
The 15minute linear regression is overlayed onto a 5 minute chart. We are able to see higher timeframe average and extremes. The average is the middle of the channel and the extremes are the outer edges of the bands. The bands are non-repainting meaning that is the actual value of the channel at that place in time.
Here multiple channels are shown at once. We have a linear regression for the 5, 15, and 60 minute charts. If your strategy uses those timeframes you can see the average and overbought/oversold areas without having to flip through charts.
In this example we show just the history bands. The bands could be thought of as a "don't diddle in the middle" area if your strategy is looking for reversals
You can extend the channel into the future via the various input settings.
Floor and Roof IndicatorThe Floor and Roof indicator is a tool developed to help traders identify potential areas of support and resistance both for trend following and for mean reversal trading decisions.
The indicator plots the "Roof" which is the main level of resistance, and the "Floor" which is the main level of support. These lines are calculated on the "Lenght" parameter and smoothed by the "Smooth" parameter, and they use both the volatility and the main market structure as calculation methods.
Additionally, this indicator plots an area that can be modified by the "Zone width" parameter and two other lines, called "Second floor" and "Second roof" respectively, which are plotted only whenever they are significant to the price current level.
This indicator can be used in several ways:
- In a clear trend, you could wait for a break of the second floor or roof as an indication of a change in the market direction
- As the price goes out of the reversal zones, this can be an indication of a reversal
- In a clear trend, you can wait for the price to bounce on the second floor or roof lines to enter a trade
Stochastic Momentum Channel with Volume Filter [IkkeOmar]A stochastic version of my momentum channel volume filter
The "Stochastic Momentum" indicator combines the concepts of Stochastic and Bollinger Bands to provide insights into price momentum and potential trend reversals. It can be used to identify overbought and oversold conditions, as well as potential bullish and bearish signals.
The indicator calculates a Stochastic RSI using the RSI (Relative Strength Index) of a given price source. It applies smoothing to the Stochastic RSI values using moving averages to generate two lines: the %K line and the %D line. The %K line represents the current momentum, while the %D line represents a filtered version of the momentum.
Additionally, the indicator plots Bollinger Bands around the moving average of the Stochastic RSI. The upper and lower bands represent levels where the price is considered relatively high or low compared to its recent volatility. The distance between the bands reflects the current market volatility.
Here's how the indicator can be interpreted:
Stochastic Momentum (%K and %D lines):
When the %K line crosses above the %D line, it suggests a potential upward move or bullish momentum.
When the %K line crosses below the %D line, it indicates a potential downward move or bearish momentum.
The color of the plot changes based on the relationship between the %K and %D lines. Green indicates %K > %D, while red indicates %K < %D.
Bollinger Bands (Upper and Lower Bands):
When the price crosses above the upper band, it suggests an overbought condition, indicating a potential reversal or pullback.
When the price crosses below the lower band, it suggests an oversold condition, indicating a potential reversal or bounce.
To identify potential upward moves, consider the following conditions:
If the price is not in a contraction phase (the bands are not narrowing), and the price crosses above the lower band, it may signal a potential upward move or bounce.
If the %K line crosses above the %D line while the %K line is below the upper band, it may indicate a potential upward move.
To identify potential downward moves, consider the following conditions:
If the price is not in a contraction phase (the bands are not narrowing), and the price crosses below the upper band, it may signal a potential downward move or pullback.
If the %K line crosses below the %D line while the %K line is above the lower band, it may indicate a potential downward move.
Code explanation
Input Variables:
The input function is used to create customizable input variables that can be adjusted by the user.
smoothK and smoothD are inputs for the smoothing periods of the %K and %D lines, respectively.
lengthRSI represents the length of the RSI calculation.
lengthStoch is the length parameter for the stochastic calculation.
volumeFilterLength determines the length of the volume filter used to filter the RSI.
Source Definition:
The src variable is an input that defines the price source used for the calculations.
By default, the close price is used, but the user can choose a different price source.
RSI Calculation:
The rsi1 variable calculates the RSI using the ta.rsi function.
The RSI is a popular oscillator that measures the strength and speed of price movements.
It is calculated based on the average gain and average loss over a specified period.
In this case, the RSI is calculated using the src price source and the lengthRSI parameter.
Volume Filter:
The code calculates a volume filter to filter the RSI values based on the average volume.
The volumeAvg variable calculates the simple moving average of the volume over a specified period (volumeFilterLength).
The filteredRsi variable stores the RSI values that meet the condition of having a volume greater than or equal to the average volume (volume >= volumeAvg).
Stochastic Calculation:
The k variable calculates the %K line of the Stochastic RSI using the ta.stoch function.
The ta.stoch function takes the filtered RSI values (filteredRsi) as inputs and calculates the %K line based on the length parameter (lengthStoch).
The smoothK parameter is used to smooth the %K line by applying a moving average.
The d variable represents the %D line, which is a smoothed version of the %K line obtained by applying another moving average with a period defined by smoothD.
Momentum Calculation:
The kd variable calculates the average of the %K and %D lines, representing the momentum of the Stochastic RSI.
Bollinger Bands Calculation:
The ma variable calculates the moving average of the momentum values (kd) using the ta.sma function with a period defined by bandLength.
The offs variable calculates the offset by multiplying the standard deviation of the momentum values with a factor of 1.6185.
The up and dn variables represent the upper and lower bands, respectively, by adding and subtracting the offset from the moving average.
The Bollinger Bands provide a measure of volatility and can indicate potential overbought and oversold conditions.
Color Assignments:
The colors for the plot and Bollinger Bands are assigned based on certain conditions.
If the %K line is greater than the %D line, the plotCol variable is set to green. Otherwise, it is set to red.
The upCol and dnCol variables are set to different colors based on whether the fast moving average (fastMA) is above or below the upper and lower bands, respectively.
Plotting:
The Stochastic Momentum (%K) is plotted using the plot function with the assigned color (plotCol).
The upper and lower Bollinger Bands are plotted using the plot function with the respective colors (upCol and dnCol).
The fast moving average (fastMA) is plotted in black color to distinguish it from the bands.
The hline function is used to plot horizontal lines representing the upper and lower bands of the Stochastic Momentum.
The code combines the Stochastic RSI, Bollinger Bands, and color logic to provide visual representations of momentum and potential trend reversals. It allows traders to observe the interaction between the Stochastic Momentum lines, the Bollinger Bands, and price movements, enabling them to make informed trading decisions.
Volume Profile Regression Channel [LuxAlgo]The Volume Profile Regression Channel calculates a volume profile from an anchored linear regression channel. Users can choose the starting and ending points for the indicator calculation interval.
Like a regular volume profile, a "line" of control (LOC), value area, and a developing LOC are displayed.
🔶 SETTINGS
Sections: The number of sections the linear regression channel is divided into for the calculation of the volume profile.
Width %: Determines the length of the profile within the channel relative to the channel length.
Value Area %: Highlights the sections starting from the POC whose accumulated volume is equal to the user-defined percentage of the total profile sections volume.
🔶 USAGES
Regular volume profiles are often constructed from a horizontal price area, this can allow highlighting price areas where most trading activity takes place.
However, when price is strongly trending a classical volume profile can sometimes be more uniform. This is where using an angled volume profile can be useful.
The line of control allows highlighting the section of the channel with the most accumulated volume, this line can be used as a potential future support/resistance. This is where an angled volume profile might be the most useful.
The developing LOC highlights the LOC location at a specific time within the profile (from left to right) and can sometimes provide an estimate of the underlying trend in the price.
🔶 DETAILS
To be computed the script requires a left and right chart time coordinates. When adding the script to their charts users can determine the left and right time coordinates by clicking on the chart.
The linear regression channel width is determined so that the channel precisely encompasses the whole price.
🔶 LIMITATIONS
Using a very large calculation interval can return timeouts. Users can reduce the calculation interval to fix that issue from occurring.
The amount of drawing objects that can be used is limited, as such using a high calculation interval can display an incomplete profile.
🔶 ACKNOWLEDGEMENTS
If you are interested in these types of scripts, @HeWhoMustNotBeNamed published a similar script where users can use a custom line angle. See his 'Angled Volume Profile' script from March 2023.
TrueLevel BandsTrueLevel Bands is a powerful trading indicator that employs linear regression and standard deviation to create dynamic, envelope-style bands around the price action of a financial instrument. These bands are designed to help traders identify potential support and resistance levels, trend direction, and volatility.
The TrueLevel Bands indicator consists of multiple envelope bands, each constructed using different timeframes or lengths, and a multiple (mult) factor. The multiple factor determines the width of the bands by adjusting the number of standard deviations from the linear regression line.
Key Features of TrueLevel Bands
1. Multi-Timeframe Analysis: Unlike traditional moving average-based indicators, TrueLevel Bands allow traders to incorporate multiple timeframes into their analysis. This helps traders capture both short-term and long-term market dynamics, offering a more comprehensive understanding of price behavior.
2. Customization: The TrueLevel Bands indicator offers a high level of customization, allowing traders to adjust the lengths and multiple factors to suit their trading style and preferences. This flexibility enables traders to fine-tune the indicator to work optimally with various instruments and market conditions.
3. Adaptive Volatility: By incorporating standard deviation, TrueLevel Bands can automatically adjust to changing market volatility. This feature enables the bands to expand during periods of high volatility and contract during periods of low volatility, providing traders with a more accurate representation of market dynamics.
4. Dynamic Support and Resistance Levels: TrueLevel Bands can help traders identify dynamic support and resistance levels, as the bands adjust in real-time according to price action. This can be particularly useful for traders looking to enter or exit positions based on support and resistance levels.
5. The "Global Trend Line" refers to the average of the bands used to indicate the overall trend.
Why TrueLevel Bands are Different from Classic Moving Averages
TrueLevel Bands differ from conventional moving averages in several ways:
1. Linear Regression: While moving averages are based on simple arithmetic means, TrueLevel Bands use linear regression to determine the centerline. This offers a more accurate representation of the trend and helps traders better assess potential entry and exit points.
2. Envelope Style Bands: Unlike moving averages, which are single lines, TrueLevel Bands form envelope-style bands around the price action. This provides traders with a visual representation of potential support and resistance levels, trend direction, and volatility.
3. Multi-Timeframe Analysis: Classic moving averages typically focus on a single timeframe. In contrast, TrueLevel Bands incorporate multiple timeframes, enabling traders to capture a broader understanding of market dynamics.
4. Adaptive Volatility: Traditional moving averages do not account for changing market volatility, whereas TrueLevel Bands automatically adjust to volatility shifts through the use of standard deviation.
The TrueLevel Bands indicator is a powerful, versatile tool that offers traders a unique approach to technical analysis. With its ability to adapt to changing market conditions, provide multi-timeframe analysis, and dynamic support and resistance levels, TrueLevel Bands can serve as an invaluable asset to both novice and experienced traders looking to gain an edge in the markets.
Advanced Trend Channel Detection (Log Scale)The Advanced Trend Channel Detection (Log Scale) indicator is designed to identify the strongest trend channels using logarithmic scaling. It does this by calculating the highest Pearson's R value among all length inputs and then determining which length input to use for the selected slope, average, and intercept. The script then draws the upper and lower deviation lines on the chart based on the selected slope, average, and intercept, and optionally displays the Pearson's R value.
To use this indicator, you will need to switch to logarithmic scale. There are several advantages to using logarithmic scale over regular scale. Firstly, logarithmic scale provides a better visualization of data that spans multiple orders of magnitude by compressing large ranges of values into a smaller space. Secondly, logarithmic scale can help to minimize the impact of outliers, making it easier to identify patterns and trends in the data. Finally, logarithmic scale is often utilized in scientific contexts as it can reveal relationships between variables that may not be visible on a linear scale.
If the trend channel does not appear on the chart, it may be necessary to scroll back to view historical data. The indicator uses past price data to calculate the trend channel, so if there is not enough historical data visible on the chart, the indicator may not be able to identify the trend channel. In this case, the user should adjust the chart's timeframe or zoom out to view more historical data. Additionally, the indicator may need to be recalibrated if there is a significant shift in market conditions or if the selected length input is no longer appropriate.
Range ( Adjustable ) HLLSfor range of the price ( Adjustable )
This indicator shows you in what price range it may move.
This indicator is adjustable. You must set your installation to the past of its chart. (depends on timeframe)
Pay attention to adapt it in different time frames and with your strategy.
The function of this indicator is simple.
Based on the first factor (the number of previous candles), you can adjust average range channel with the second factor for height of the channel.
Faytterro Bandswhat is Faytterro Bands?
it is a channel indicator like "Bollinger Bands".
what it does?
creates a channel using standard deviations and means. thus giving users an idea about the expensive and cheap zones. It uses a special weighted moving average different from standard bollinger bands, it also averages not only price but also deviations.
how it does it?
it uses this formulas:
how to use it?
its usage is the same as "bollinger band".
length represents the number of candles to be taken into account, source represents the source of those candles and stdev represents the coefficient of the standard deviation.
you can use it with other indicators:
Volume Weighted Reversal BandsThis is a vwap & vwma hybrid with upper & lower deviation bands that provide excellent price channels and reversal areas. It can be used on lower & higher timeframes, just increase the deviation % for higher timeframes. Try out the 1 minute timeframe with .5% deviation for great scalping levels.
Here is the calculation used for the main line.
(VWMA100 + VWMA500 + VWMA1000 + VWAP) / 4
So it combines 3 VWMAs with the VWAP and divides that number by 4 to give us a moving average. Then we add new levels above and below that moving average to get our channels. The channels are separated by the % deviation you choose in the settings. For tighter bands, lower the percentage deviation and for wider bands, increase the percentage deviation.
The fattest line in the middle is the main moving average and you can expect price to regularly return to this level. The thick lines are the main moving average plus or minus the percentage deviation you have set. There are 10 levels in each direction from the main moving average. The is also a thin short term moving average as well with a custom calculation. It takes 4 different length moving averages that are weighted and 4 more that are volume weighted and divides the total by 8.The lines will be green when price is above the line and red when price is below the line. The thin white line is the VWAP on its own.
These lines will act as dynamic support and resistance so you can scalp them back and forth. These levels work so well because they are volume weighted and the algos hedge their positions back and forth constantly.
For best results, use this indicator on tickers with the highest volume and trading action as the price will stick to these levels better when the big money players are hedging. Some great tickers for this indicator are APPL, SPY, BTC, ETH.
All colors and linewidths can be customized in the settings easily as well as turning off the VWAP or short moving average and adjusting the percentage deviation for the channels.
***MARKETS***
This indicator can be used on all markets, including stocks, crypto, futures and forex.
***TIMEFRAMES***
This indicator can be used on all timeframes.
***TIPS***
Try using numerous indicators of ours on your chart for extra confirmation. Our favorites to pair with these bands are the Scalper Ribbon and Trend Friend Signals. The 3 combined give you a lot of extra confirmation on whether the market is going to reverse at these levels.
Pivot-Based Channels & Bands [Misu]█ This Indicator is based on Pivot detection to show bands and channels.
The pivot price is similar to a resistance or support level. If the pivot level is breached, the price should continue in that direction. Or the price could reverse at or near this level.
█ Usages:
Use channels as a support & resistance zone.
Use bands as a support & resistance zone. It is also very powerfull to use it as a breakout.
Use mid bands & mid channels as a trend direction or trade filter as a more usual moving average.
█ Parameters:
Show Pivot Bands: show bands.
Show Pivot Mid Band: show mid bands.
Show Pivot Channels: show channels.
Show Pivot Mid Channel: show mid channels.
Deviation: deviation used to calculate pivot points.
Depth: depth used to calculate pivot points.
