Free and Popular Indicators ⁽⁴³⁾

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…

Volume is an important factor in technical analysis. This innovative indicator provides cumulative volume for each zigzag swing. This can help understand how much conviction is there in each swing. You can find the relative strength by comparing it to previous swing volumes. Link to the Indicator: Zigzag Volume Bars Here is an indicator that can help you visualise volume data on Zigzag swing highs and lows. Settings are pretty simple and provide a variety of display options. Bar Style can be Stack…

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…

Don't want to rely on a single oscillator or zigzag periods, this indicator provides a bird's view of combined divergence status for multiple zigzag levels and multiple oscillators. Link to the Indicator: Multi Zigzag and Multi Oscillator Divergence This table is intended to give you a snapshot of how prices and oscillators are moving along with zigzag pivots. This is done along the same lines as Zigzag-Trend-Divergence-Detector But, here are the differences The table contains the following data: The sentiment is calculated…

The question which comes up quite often is that - "What is the probability of divergence resulting in a change of trend?" This is a hard nut and it can be devastating to follow divergence signals without other confirmations. At best, divergences can act as good support and resistance levels. This indicator treats divergence as a support resistance level and plots them on the chart. Though we are the ones who coined this concept, it has become very popular and also earned…

Pullbacks are always the hardest part of the trade and when it happens, we struggle to make a decision on whether to continue the trade and wait for recovery or cut losses. Similarly, when an instrument is trending well, it is often a difficult decision to make if we want to take some profit off the table. This indicator is aimed to make these decisions easier by providing a combined opinion of sentiment based on trend and possible divergence. Link to the…

Another experiment with combining favourite concepts. In this algorithm, we build a trend-following method based on Bollinger Band/Keltner Channel/Donchian Channel-based Zigzags. Further experiments with strategy have shown us that this is a very promising method to explore further. Link to the Indicator: Zigzag Bands Trend Follower We defined a new method to derive a zigzag last month - which is called Channel-Based-Zigzag. This script is an example of one of the use cases of this method. Defining a trend-following method is simple.

Here is a very complex and detailed indicator that provides output in a simple and easy-to-understand way. The algorithm studies historical divergence outcomes and used them to project the next pivot. The script also won the Best Editor Picks of 2022 award Link to the Indicator: Next Pivot Projection Indicator Still experimental. Extending further on the divergence backtest results - in this script, we try to project the next 2 pivots (including one unconfirmed pivot) 1. Divergence-Backtester 2. Divergence-Backtester-V2 Hover over projection labels to…