All things TradingView

[IgazI]

A simple HOLO indicator:

holo.png (8.8 KiB) Viewed 4946 times

Code: Select all

//@version=3
study("HOLO")

x = lowest(open[0], 40)
y = highest(open[0], 40)
z = color(black, transp = 92)

//LOWEST OPEN & NOT A BREAKOUT BAR
if open[0] == y and high[0] < high[1]
    z := color(red, transp = 78)
if open[0] == x and low[0] > low[1]
    z := color(green, transp = 78)


[LeMercenaire]

Green candles mean that it is unwise to trade short.

Red background means that it is extremely unwise.

red_cheese_plz.png

I feel a great need for this chart porn...I do not run TV...I am distraught...

[IgazI]

Green candles mean that it is unwise to trade short.

Red background means that it is extremely unwise.

red_cheese_plz.png

I feel a great need for this chart porn...I do not run TV...I am distraught...

I changed the coding a bit: I feel that a LH is not as bearish as it seems on paper; I color a candle red if it has a close that is lower than the midpoint or of the open is greater than the midpoint or if price moves to the opposite wick-zone and breaks lower:

I have contemplated other rules but those two, and the WZ rule, cover every bearish scenario that I can think of.

Right now I am working on a SL formula for scalping...if you have any ideas...

[IgazI]

Updated SL formula...

stop.png (10.4 KiB) Viewed 4836 times

Code: Select all

//@version=3
study("STOP LOSS")

//            22 DAYS OF PRICE RANGE
stop = security(tickerid, '2D', rma(lowest(atr(1)[1], 11), 11)   * 0.225)

// STOP EQUALS 22.5% OF SMALLEST 2D RANGE OF THE PAST 22 DAYS


//         BOTH TP ARE MINIMUM TARGETS 
plot(stop * 0.9, style = circles, join= true, color = red, transp = 88)
plot(stop * 0.225, style = histogram,  color = blue)
plot(stop * 0.45, style = columns, color = green)



[IgazI]

Updated the Red Cheese to mark the pointy places:

red_cheese_n_knees.png (96.68 KiB) Viewed 4820 times

Code: Select all

//@version=3
study("RED CHEESE", overlay = true)

// 1. close below midpoint, 2. open higher than midpoint
troo = close[0] < (high[0]+low[0])/2 or open[0] > (high[0]+low[0])/2


// If price moves to the other WZ and breaks out then swap colors.
if open[1] < close[1] and low[0] <= open[1] and close[0] > open[1]
    troo := 0
if open[1] > close[1] and high[0] >= open[1] and close[0] < open[1]
    troo := 1
   
barcolor( troo ? red : green)
bgcolor(troo ? color(black, transp = 98): na)

isHI = high[2] < high[1] and high[1] > high[0]

isLO = low[2] > low[1] and low[1] < low[0]

plotshape(isHI, location = location.abovebar, style = shape.labeldown, color = green, offset = -1, transp = 95)
plotshape(isLO, location = location.belowbar, style = shape.labelup, color = red, offset = -1, transp = 85)



[IgazI]

If price doesn't like to close in the wick-zone then it shouldn't like it regardless of whether you go short away from it or short into it, am i right?

This was a normal mWZp (WZ/MIDPOINT) type trade, but if the candle closes red then I feel that I should short into the WZ rather than at the low...

'trade what you see' and all that, but do you see a logical reason why WZ statistics do not hold for trading into the zone?

A greater distance to travel to exit the zone, perhaps.

red_cheese_plzzz.png (87.03 KiB) Viewed 4791 times

[IgazI]

I know that I'm kinda reinventing the wheel here, but it is the only use that I have found for the pointy places.

This is similar to the 1-2-3...
'A' is a pointy place
'B' is nearest to the open or close of 'A' and you mark a line on said open or close
'C+ you trade in the direction of 'A's pointy place.

pointy_places.png (65.38 KiB) Viewed 4766 times

[LeMercenaire]

I know that I'm kinda reinventing the wheel here, but it is the only use that I have found for the pointy places.

This is similar to the 1-2-3...
'A' is a pointy place
'B' is nearest to the open or close of 'A' and you mark a line on said open or close
'C+ you trade in the direction of 'A's pointy place.

pointy_places.png

When you say you trade ''in the direction of 'A''s pointy place, sorry but does that mean (in this example) you'd be going short back down towards the 'A' at close of 'B'?

The line is either the close or open as you are taking the farther away of the two as a stop?

I dunno' if I'm having a particularly thick day today!

[IgazI]

I know that I'm kinda reinventing the wheel here, but it is the only use that I have found for the pointy places.

This is similar to the 1-2-3...
'A' is a pointy place
'B' is nearest to the open or close of 'A' and you mark a line on said open or close
'C+ you trade in the direction of 'A's pointy place.

pointy_places.png

When you say you trade ''in the direction of 'A''s pointy place, sorry but does that mean (in this example) you'd be going short back down towards the 'A' at close of 'B'?

The line is either the close or open as you are taking the farther away of the two as a stop?

I dunno' if I'm having a particularly thick day today!

No worries.

A is the 'pointy place': there is a low & a higher low before and after it.

If B closes near the open of A then short the open of A on the open of C, D, E, ...
If B closes near the close of A then short the close of A on the open of C, D, E,...

The stop is 20.25% of an average of the smallest 2-day range of the last 11 bars:
using the smallest ranges of a larger chart should encapsulate the congestion of the smaller charts
without being subject to being driven up by the larger price ranges.

If 2/3 of your position takes profit at T2 (green number) then your position is BE;
that is the reason behind those numbers.
1. candle turns red, short 1 unit.
2. in profit by T1, short 2 units.
3. 2 units in profit by T2, exit 2 units
4. hold 1 unit for a larger win.

Profit is 1/3 of the stop + 1/3 of the total move.

Risk is 1/3% of stop, 100% for a handful of pips, and then BE for the run; all without moving the stop.

Maybe the bar 'flickers' between red and green: i am in there with 1/3 and 33.33% risk:
maybe price plummets 35 pips and I don't get a chance to add the other 2 units: profit is 1/3 of 35 or +11.6 pips

stop_muh_loss.png (20.64 KiB) Viewed 4696 times

[IgazI]

the_grind.png (14.88 KiB) Viewed 4694 times