Bulls And Bears [CHE]
This Pine Script™ indicator, Bulls And Bears , aims to provide traders with potential entry points by analyzing market conditions. Here's how it works:
Calculation of Maximum and Minimum Values: The script calculates the highest and lowest values based on the high, open, close, and low prices of the asset.
Relative Strength Index (RSI) Condition: It evaluates whether the RSI value (with a period of 14) is above 50, indicating bullish momentum.
Bullish and Bearish Conditions: Based on the calculated maximum and minimum values, along with the RSI condition, it determines bullish and bearish conditions. If the current maximum value is higher than the previous maximum and the RSI condition is met, it suggests a bullish condition. Conversely, if the current maximum value is lower than the previous maximum and the RSI condition is not met, it suggests a bearish condition.
Super Smoother Function: This function is used to calculate a smoother moving average, reducing noise in the data.
Input Parameters: Traders can adjust the "Length Difference" and "Length threshold" parameters to customize the indicator according to their trading preferences.
Calculation of Super Smooth Moving Averages: The script calculates super smooth moving averages for both bullish and bearish conditions.
Plotting: It plots the super smooth moving averages on the chart, indicating potential entry points for bullish (green) and bearish (red) conditions.
Filling Areas: It fills the areas between the moving averages and the threshold line based on the conditions. Green filling represents bullish conditions, while red filling represents bearish conditions.
By using this indicator, traders can potentially identify favorable entry points based on market conditions, helping them make informed trading decisions.
Calculation of Maximum and Minimum Values: The script calculates the highest and lowest values based on the high, open, close, and low prices of the asset.
Relative Strength Index (RSI) Condition: It evaluates whether the RSI value (with a period of 14) is above 50, indicating bullish momentum.
Bullish and Bearish Conditions: Based on the calculated maximum and minimum values, along with the RSI condition, it determines bullish and bearish conditions. If the current maximum value is higher than the previous maximum and the RSI condition is met, it suggests a bullish condition. Conversely, if the current maximum value is lower than the previous maximum and the RSI condition is not met, it suggests a bearish condition.
Super Smoother Function: This function is used to calculate a smoother moving average, reducing noise in the data.
Input Parameters: Traders can adjust the "Length Difference" and "Length threshold" parameters to customize the indicator according to their trading preferences.
Calculation of Super Smooth Moving Averages: The script calculates super smooth moving averages for both bullish and bearish conditions.
Plotting: It plots the super smooth moving averages on the chart, indicating potential entry points for bullish (green) and bearish (red) conditions.
Filling Areas: It fills the areas between the moving averages and the threshold line based on the conditions. Green filling represents bullish conditions, while red filling represents bearish conditions.
By using this indicator, traders can potentially identify favorable entry points based on market conditions, helping them make informed trading decisions.
Release Notes:
The indicator has been updated to include these options:
Standard
Bar
Oscillator
Standard
Bar
Oscillator
Release Notes:
Change to Standard
Release Notes:
This script is a custom trading strategy that combines the Average Directional Index (ADX) and the Relative Strength Index (RSI). It uses the following key steps:
1. Inputs: Users can adjust the ADX length and threshold.
2. Calculation of True Range (TR), Directional Movement Plus (DMP), and Directional Movement Minus (DMM).
3. Smoothing of TR, DMP, and DMM over the specified ADX length.
4. Calculation of DI+, DI-, and DX.
5. Calculation of Zero-lag ADX (ZADX) using a Hull Moving Average (HMA).
6. Calculation of RSI based on user-defined length and source.
7. Determination of buy and sell signals based on ZADX and RSI conditions.
8. Plotting of buy and sell signals on the chart with color-coded shapes for easy visualization.
The strategy generates buy signals when the ZADX exceeds the threshold and the RSI is below 25, indicating potential oversold conditions. Sell signals are generated when the ZADX exceeds the threshold and the RSI is above 80, indicating potential overbought conditions.
1. Inputs: Users can adjust the ADX length and threshold.
2. Calculation of True Range (TR), Directional Movement Plus (DMP), and Directional Movement Minus (DMM).
3. Smoothing of TR, DMP, and DMM over the specified ADX length.
4. Calculation of DI+, DI-, and DX.
5. Calculation of Zero-lag ADX (ZADX) using a Hull Moving Average (HMA).
6. Calculation of RSI based on user-defined length and source.
7. Determination of buy and sell signals based on ZADX and RSI conditions.
8. Plotting of buy and sell signals on the chart with color-coded shapes for easy visualization.
The strategy generates buy signals when the ZADX exceeds the threshold and the RSI is below 25, indicating potential oversold conditions. Sell signals are generated when the ZADX exceeds the threshold and the RSI is above 80, indicating potential overbought conditions.
Release Notes:
add new option "Standard plus signals"
Release Notes:
This update includes new features and improvements, such as additional display options and enhanced smoothing techniques for more accurate analysis.