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Contrarian

Trend Checker by Hally - IndicatorIt is an indicator that overlaps MACD and Stochastics. It has both characteristics. The trend changes when two lines intersect. I think the reaction is bad in the range market. Also, when there are Stochastics and MACD lines above the indicator, it is possible to think whether it is overbought while riding the trend, and it may be helpful for making decisions such as "maybe it will reverse soon". Hmm. Also, I think it is better to use it in combination with other indicators. This is my first pine script, and I couldn't find it even if I searched for the script with overlapping indicators of different scales, so I tried making it by trial and error. I hope it helps somebody trying to do the same. MACDとStochasticsを重ね合わせたインジケーターです。 それぞれの特徴を併せ持っています。 2本のラインが交差する時トレンドが変化します。 レンジ相場では反応が悪いと思います。 また、インジケーターの上の位置にStochasticsとMACDラインがあるときはトレンドに乗りながらも買われすぎかどうか考えられることが出来ますし、「そろそろ反転するかも」などの判断の助けになるかもしれません。 また、他の指標との併用して使うほうが良いと思います。 pineスクリプトは初めてで、異なるスケールのインジケーターを重ね合わせていスクリプトは探しても見つからなかったので試行錯誤で作ってみました。 同じようなことをやろうとしてる誰かの参考になれば幸いです。
Pine Script® indicator
by Hally5150
5
Smart Envelope - Running Away From The TrendIntroduction Envelopes indicators consist in displaying one upper and one lower extremity on the price chart. They are most of the time built by adding/subtracting a volatility estimator (rolling stdev, atr, range...etc) to a central tendency estimator (SMA, EMA, LSMA...etc) . Their interpretation is often subject to debate amongst technical analyst, some will use a support and resistance methodology, where price will start a downtrend once it cross the upper extremity, and a down trend once it cross the lower one. Others will prefer a breakout methodology, where price will reach higher highs once it cross the upper extremity, and lower lows when it cross the lower one. Because of price non stationarity its hard to select the best methodology, the support and resistance one will mostly work on ranging markets, while the breakout methodology mostly work on trending ones. Therefore new methods where proposed, instead of using moving averages with a high lag, faster filters where used, such as the least squares moving average or zero lag exponential moving average, other band indicators where also created using adaptive filters, but improvements remain relatively low. The most difficult task would be to make extremities with the ability to return accurate support and resistances levels, and today i want to provide a new way to construct such extremities by using the recursive bands framework that allow extremely creative and efficient indicators. The Main Idea With classical bands indicators, the upper and lower extremity will still be correlated with the main trend, the problem behind such method is that we can't use a support and resistance methodology with trending markets, the fact that reversals exist tells us that our extremities will always be crossed by the main trend, here is an example : Here the support is correlated with the main trend, in order for it to be accurate we must assume the trend will go on for ever, and will only detect higher lows, this is what we expect with the orange line, but we can see that a severe down trend totally destroy our plan. In short we need to give some headroom to our extremities, and thus one extremity can't be correlated with the main trend. The proposed Indicator We want to minimize the correlation between the extremities, so if the upper extremity rise, the lower one must fall. This allow to give some headroom and allow the user to anticipate larger movements, this is how bands seeking to give support and resistances points should work. The indicator has a length setting that control the wideness of the extremities, unlike other indicators low values such as 14 can still create really wide bands, take that into account. length = 5. Lower length values allow for more motion from the extremities, but does not necessarily involve detecting shorter terms support and resistances levels. The factor setting is not that important, but it allow to return extremities with more motion when high, and really wide bands when below 1 and greater than 0. Central Tendency Estimator Something fun with the recursive band framework is that the bands are no longer based on the central tendency estimator but its the central tendency estimator who is based on the bands. The central tendency estimator can also provide support and resistances points with the price, like classical moving averages, altho its lack of motion is this time a downside. Conclusion Altho the extremities are more accurate than other band indicators, the problem remain the same, larger trend will always break the extremities and continue creating higher/lower highs/lows, at this point our stop loss would certainly be triggered. This is a huge downsides of contrarian strategy, we sure might anticipate reversals earlier, but we are exposed to larger price movements, therefore the risk is extreme. But the proposed methodology might still prove useful to develop more robust support and resistances levels based on envelopes indicators. Thanks for reading !
Pine Script® indicator
by alexgrover
15
Call / All Ratio ( C / A ) - NoldoFirst of all this script inspired by MagicEins' Put/Call-Ratio-Buschi script . What is the Put-Call Ratio The put-call ratio is an indicator ratio that provides information about relative trading volumes of an underlying security's put options to its call options. The put-call ratio has long been viewed as an indicator of investor sentiment in the markets, where a large proportion of puts to calls indicates bearish sentiment, and vice versa. Technical traders use the put-call ratio as an indicator of performance and as a barometer of overall market sentiment. Put-call ratios on broader indexes such as the S&P 500 are also used as more general gauges of market climate. Put-Call Ratio Interpretation One way to interpret the put-call ratio is to say that a higher ratio means it's time to sell and a lower ratio means it's time to buy, because when the ratio is high it suggests that people are either expecting or protecting more readily against a future decline in the price of the underlying. A Put-Call ratio between 0.5 and 1 is considered a sideways trend in the markets. Some also view the Put-Call ratio as a contrarian indicator. Traders know that derivatives are used to do more than place bets; they are used as hedges and insurance. If there's a lot of insurance being placed to the sell side, it means traders are worried about prices falling. Some traders buy when the put-call ratio is above 1, meaning the market is out of balance to the sell side, and sell when the put-call ratio is below 1, meaning the market is out of balance to the buy side. These traders are looking to make money on the correction. The interpretation of the ratio is left to the analyst's or trader's investment philosophy. Reference : Investopedia (www.investopedia.com) Let' s start. In short, calls represent "bulls" and puts represent "bears". Some analysts do the opposite,for trend reversals the choice is up to you. I usually look at the opposite comments in commercial positions because I look at this flow angle neutral. If you want to do the opposite, you must create Put / All Ratio. So i created this ratio to observe easily movements under or over 0.50 area . Or you can take the point close to 0.50 as a horizontal trend. Many more comments can be made.I have a few ideas about this, and I'm going to publish them soon . My best suggestion is that it covers a single bar and is very volatile, so you can look for averages and strong accelerations. This code is open source under the MIT license. If you have any improvements or corrections to suggest, please send me a pull request via the github repository github.com Stay tuned , best regards.
Pine Script® indicator
by Noldo
2