Classic Technical Indicators (10)
Our classic technical analysis indicators with innovative twists, incorporated using the latest Pinescript structures offer a fresh perspective on traditional tools for technical trading.
Zigzag Anchored Tails
The Zigzag Tails Indicator, a groundbreaking tool from Trendoscope, redefines technical analysis by seamlessly integrating anchored VWAPs (Volume Weighted Average Prices) and Average Price calculations with Zigzag pivot points. This advanced indicator recalculates Average Price or VWAP from one Zigzag pivot to the next, offering unparalleled insights into market movements. Link to the Indicator: Zigzag Tails Each Zigzag pivot can feature up to three distinct tails, corresponding to the high, low, and close prices of each candle. Users have the flexibility to…
Master Supertrend
Angled Volume Profile
Volume profile is a useful tool to understand the demand and supply zones on the horizontal level. But, what if you want to measure the volume levels over the trend line? In trending markets, the feature to measure volume over angled levels can be very useful for traders who use these measures. Here is an attempt to provide such a tool.
Interactive Volume Profile
Innovative Zigzag Indicators
Here are some of the innovative technical indicators built on the Zigzag indicator combined with classical technical analysis and modern concepts. Link to the indicator: Zigzag Cloud Indicator This is Bollinger Band built on top of Zigzags instead of regular price + something more. The indicator presents 7 lines and clouds around it. This can be used to visualize how low or high the price is with respect to its past movement. Link to the indicator: Zigzag Candles Can't deny that we…
Crypto Volume Strength Comparator
Here is an attempt to perform a comparative analysis between top cryptos based on strength (oscillator) and volume. The methodology used here is similar to the Magic Number formula described in the post: Enhanced Magic Formula for fundamental analysis. But, instead of using fundamentals, we are making use of a few technicals to derive similar outcomes. Usage of the available stats will not be the same as the Magic number since we are using technicals.
New Electrocardiogram Chart
RSI - Dynamic Levels
This technical indicator is a simple yet very effective tool for the interpretation of the RSI - Relative Strength Index. Based on past RSI values the indicator generates dynamic overbought and oversold levels which is advantageous over the static 70/30 or 80/20 range. Link to the Indicator: RSI Dynamic Levels Default overbought/oversold levels of RSI do not hold well for instruments that are trending well. It happens often that instruments keep trading in a single half of the range for a prolonged…
Supertrend Ladder ATR
This is a supertrend with a slightly twisted concept which can be very beneficial in strong trending markets to reduce stop loss distance and exit slightly quicker. Link to the Indicator: Supertrend Ladder ATR When the instrument is trending up, regular ATR shows high values if there are big green candles. This affects the stop loss distance in regular supertrend which leads to wide stops or delayed lagging. When you are in a long trade, what matters for stop-loss is how much…
Extreme Trend Reversal Points
Extreme Trend Reversal Points based on Recursive Moving Averages is an indicator designed to estimate reversal points based on how well the instrument has trended. The highlight of this indicator is that the calculations of moving averages are done in a recursive manner. Link to the indicator: Extreme Trend Reversal Points Using moving average crossover for identifying the change in trend is very common. However, this method can give lots of false signals during the ranging markets. In this algorithm, we try…