Mxwll — Indicators and Strategies

Mxwll Hedge Suite [Mxwll]Hello Traders! The Mxwll Hedge Suite determines the best asset to hedge against the asset on your chart! By determining correlation between the asset on your chart and a group of internally listed assets, the Mxwll Hedge Suite determines which asset from the list exhibits the highest negative correlation, and then determines exactly how many coins/shares/contracts of the asset must be bought to achieve a perfect 1:1 hedge! The image above exemplifies the process! The purple box on the chart shows the eligible price action used to determine correlation between the asset on my chart (BTCUSDT.P) and the list of cryptocurrencies that can be used as a hedge! From this price action, the coin determined to have to greatest negative correlation to BTCUSDT.P is FTMUSD. The image above further outlines the hedge table located in the bottom-right corner of your chart! The hedge table shows exactly how many coins you’d need to purchase for the hedge asset at various leverages to achieve a perfect 1:1 hedge! Hedge Suite works on any asset on any timeframe! And that’s all! A short and sweet script that is hopefully helpful to traders looking to hedge their positions with a negatively correlated asset! Thank you, Traders!

SPX Mapped Gaps [Mxwll]Hello traders 👋 This indicator "SPX Mapped Gaps" detects gaps from the SPX (or the trader's choice of index/asset) and plots them for the asset on your chart! Features Selectable comparison symbol Gaps from the selected symbol (SPX by default) are plotted for the asset on your chart - serving as potential support/resistance levels! Closest gaps from comparison symbol displayed in upper-right table Overlapped gaps deleted automatically - less clutter! How this script works The "SPX Mapped Gaps" is designed to help traders determine price levels for the asset on their chart where a major index (any asset) gapped up or down. Of course, a gap that occurs on SPX (4-digit price) is incompatible with the price chart of BTC (5-digit price). To circumvent this, the percentage distance of the gap from SPX is determined, and a gap level is drawn equidistantly (up/down) from the open price of the asset on your chart. With this method, the proportion of the gap is maintained at the price area it occurred for the asset on your chart! The image above outlines functionality for the indicator! Key points: Up gaps are denoted by green boxes Down gaps are denoted by red boxes All gaps are listed with their start and end price for the comparison asset (SPX for the example). These labels can be hidden at the user's discretion. Gaps are expected to act as support/resistance during their lifetime The image above explains the output of the script, including line style indications! Solid lines indicate that the leverage used for at your entry price constitutes an active trade. Dotted lines mean the trade has already achieved your profit target for that leverage, or stopped out. The image above explains the table attached to the indicator! This table displays the closest gaps to the current asset price. The status (up gap or down gap) from the gap to the current price is also detailed. Why are gaps on the SPX, or major index, relevant to BTC and other assets? When a gap on the major indices occurs, it's expected that strong aggregate buying or selling pressure will transpire for BTC and other coins. Due to this, the presence of a gap on a major index might correspond to increased activity on smaller market-cap assets with some degree of positive correlation to the index. Consequently, the price level for the asset at which a gap for the major index occurred may function as support/resistance for future price! That is all for this - thanks traders!

Liquidation Risk Suite [Mxwll]Hello traders 👋 This indicator "Liquidation Risk Suite" hosts various features that allow the trade to determine optimal position sizing, leverage, profit targets, and more! Features Customizable entry price and time From the entry price, a user-defined number of liquidation levels by leverage are shown From the entry price, a user-defined number of profit targets by leverage are shown User-defined ROI % target. Liquidation levels and profit targets automatically change to account for the traders' desired profit percentage. Calculate for long and short positions Trader can set portfolio balance and investment per trade - indicator will warn the trader when the investment per trade is too high relative to the portfolio balance. How this script works The Liquidation Risk Suite is designed to help traders determine position sizing, appropriate risk for their position (leverage, etc.), and potential profit targets from their entry point. Upon loading the script, the script will prompt you for an entry price and entry time. Simply click the screen at the appropriate locations (your entry price and entry bar) and, from there, the script will calculate various liquidation levels, determine whether your trade has achieved the desired profit at various leverages, and provide various trading metrics such as % risk of portfolio, ROI target %, profit at target, and more! The image above outlines various trade-related metrics for your position! These metrics include: Status of trade (profit or loss) for various common leverage amounts Portfolio balance Investment amount Price target (calculated from desired ROI%) Profit at target (calculated from desired ROI% and leverage used) Portfolio risk Entry price Entry time ROI Target % The image above explains the output of the script, including line style indications! Solid lines indicate that the leverage used for at your entry price constitutes an active trade. Dotted lines mean the trade has already achieved your profit target for that leverage, or stopped out. Additionally, the script can calculate pertinent metrics for short positions! That's all, just a simple, sweet script to help traders figure out what leverage to use for their positions, the risk they're taking on, and potential stop and profit levels! Thank you to kaigouthro for his colors library!