Classic Technical Indicators ⁽⁹⁾

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. Link to the indicator: Angled Volume Profile Upon loading the script, you will be prompted to select The start and end…

Here is a simple volume profile indicator built using Pinescript's security_lower_tf feature. The indicator makes use of intrabar price action to define better accuracy in defining volume profile ranges. Link to the indicator: Interactive Volume Profile Upon loading the script, it will ask users to select the Time range to show the volume profile. Once you select the time range, confirmation input will pop up. Upon confirming the inputs, you will be able to view the volume profile When the indicator is…

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…

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. Link to the Indicator: Crypto Volume Strength…

This is an attempt to develop alternative visualisation of financial charts that enables users to visualise intrabar movements along with OHLC values Link to the Indicator: New Electrocardiogram Chart Instead of candles/bars, this type of chart contains Electrocardiogram blocks that resemble the heartbeat signals on an electrocardiogram Inside each block, there will be 5 connecting lines called signal lines. The colour of the signal lines is determined by which among the high/low bars comes last. If the highest part of the bar…

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…

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 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…