Level: 2 Background John F. Ehlers introuced Automatic SineTrend Trading System in his "Rocket Science for Traders" chapter 12. Function blackcat L2 Ehlers Automatic SineTrend Trading System is used to find proper long and short entries.Dr. Ehlers developed a completely automatic trading system called the SineTrend Automatic System based on the rules in his...
This Script is designed to show repeating pattern in the market, encountered by gaps. Depending on the Gap, the Lines will be drawn in the selected color. The Gap is checked from the lowest point of the old candle-body to the highest point of the new candle body for a bearish Gap and vice versa for bullish Gap. The Script allows to: - enable bearish gaps, bullish...
I use supertrend for for trailing stops. One of the problem of trailing stops in long term trend trading is we get stopped too early and then trend continues. To avoid this problem, we can limit or delay our trailing. In this modified version of supertrend, we can delay trailing by two methods: Bars : Trail after certain bars. Input DelayBars says after...
Plots realtime basis points (bps) based on last bar's close price. Original idea by @redxbt Options to configure: Show up to 19 Show only odd numbered Change main horizontal colors Change line width
just a modify type of renko candles it not renko but it use some of it princeples red is bearish lime is bullish the ATR length control how this candles behave
This is a bandpass filter oscillator that has an additional tuning parameter in addition to the Period used by John Ehlers. It is 'quality' which has meaning in a frequency/magnitude sense (See Q in line 7). The bandpass is slower according to the inverse of Q. The concept was developed by John Lane etal in the text 'DSP Filters' The bandpass filter works...
A very basic script that changes the background color of the chart to Green if the price closes over the previous day close, and to Red if the price closes under the previous day close. This allows you to easily see if it is currently a Bull or Bear market with a glance. Alerts added.
Level: 2 Background John F. Ehlers introuced Market Mode Identifier in his "Rocket Science for Traders" chapter 11. The simplified model of the market, derived from the Drunkard's Walk problem, has only two modes-the Cycle Mode and the Trend Mode. Through the derivation of the Sinewave Indicator and the Instantaneous Trendline, Ehlers had shown several ways to...
Dear Followers, today I'm happy to share with you my Stops Hunting indicator. This indicators draws lines on important levels, where traders are supposed to set their own stop loss orders . As per default values you will see sellers (short) stoploss prices as red lines buyers (long) stoploss prices as green lines Market maker move prices towards...
Level: 2 Background John F. Ehlers introuced Instantaneous Trendline (IT) in his "Rocket Science for Traders" chapter 10. Dr. Ehlers hope IT can enable us to compute a continuous trendline from which we can rapidly assess market action. Function blackcat L2 Ehlers Instantaneous Trendline (IT) is used to follow trend. IT is important because the dominant...
First of all, I must say that this script wouldn't be possible without the help of one of the best script developers on TradingView - @ahancock (thanks a bunch for your help) This script draws opening ranges for each of the sessions - Tokyo, London and New York and plots session high, low and pivot range of the previous session. So if you trade London session -...
This very simple script lets you see how much the asset rose from the All Time Low (ATL). First, the ATL is calculated and plotted. Then, we measure the distance from ATL and current bar close. Two labels are plotted : ATL label Current close label with rise and rise It can be useful for penny stocks trading when you want to buy lows but must see how...
Ingredients Daily chart 8ema & 21ema on a 78-minute chart Trend Following v1 indicator for TradingView (optional) Steps Identify stocks that tend to move the same direction for one or more weeks at a time. Find and locate stocks where the 8ema is crossing above (bullish) or below (bearish) the 21 ema on a 78-minute chart. If the 8ema > 21ema, the indicator will...
Level: 2 Background John F. Ehlers introuced Sine Wave Indicator in his "Rocket Science for Traders" chapter 9. Function blackcat L2 Ehlers Sine Wave Indicator compared to conventional oscillators such as the Stochastic or Relative Strength Indicator (RSI), the Sinewave Indicator has two major advantages. These are 1. The Sinewave Indicator anticipates the...
Level: 2 Background John F. Ehlers introuced Hilbert Oscillator in his "Rocket Science for Traders" chapter 8. The Hilbert Oscillator identifies every major turning point. Function blackcat L2 Ehlers Hilbert Oscillator is used to follow the trend. Although it will not be a leading indicator because of the 2-bar lag required to compute Q3, it does prove...
The WSI (Walton Strength Index) is a currency strength tool designed to show you how individual currencies are performing against each other. It shows strength for 8 of the major currencies: USD, EUR, GBP, JPY, USD, CAD, AUD, NZD Each of the lines corresponds to a currency, and you can use those readings to determine which currency pairs you would like to...
Level: 2 Background John F. Ehlers introuced another Enhanced Signal to Noise Indicator in his "Rocket Science for Traders" chapter 8. Function blackcat L2 Ehlers Signal to Noise Indicator is used to measure Signal-to-Noise Ratio (SNR). In this code, the period of the measured dominant cycle is calculated in exactly the same manner as we calculated it for...
Level: 2 Background John F. Ehlers introuced Signal to Noise Indicator in his "Rocket Science for Traders" chapter 8. Dr. Ehlers terms the case where half the average daily trading range is equal to the signal amplitude as our zero decibel Signal-to-Noise Ratio (0 dB SNR) condition. He wants the signal amplitude to be at least twice the noise amplitude (6dB...