UTSConvenienceToolsLibrary "UTSConvenienceTools"
Convenience tool library containing helper functions for drawing and charting.
isDarkColor(color)
Determines on base of the luminance of the given color if the color can be considered a 'dark' color. Usefull for determining the readable font color for arbitrary colored backgrounds. Credits out to:
Parameters:
color (color) : (color): The actual color value.
Returns: (bool): A boolean value.
smallLabelLowerRight(txt, yPos, bgColor)
Displays the specified `txt` in a small label at the `yPos` of the current bar. The label points to the lower right.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned above the candle pass 'high'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
smallLabelUpperRight(txt, yPos, bgColor)
Displays the specified `txt` in a small label at the `yPos` of the current bar. The label points to the upper right.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned below the candle pass 'low'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
smallLabelCenter(txt, yPos, bgColor)
Displays the specified `txt` in a small label at the `yPos` of the current bar. The label points to the center.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned above the candle pass 'high'. To have it positioned below the candle pass 'low'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
smallLabelDown(txt, yPos, bgColor)
Displays the specified `txt` in a small label at the `yPos` of the current bar. The label points down.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned above the candle pass 'high'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
smallLabelUp(txt, yPos, bgColor)
Displays the specified `txt` in a small label at the `yPos` of the current bar. The label points down.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned below the candle pass 'low'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
normalLabelLowerRight(txt, yPos, bgColor)
Displays the specified `txt` in a normal label at the `yPos` of the current bar. The label points to the lower right.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned above the candle pass 'high'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
normalLabelUpperRight(txt, yPos, bgColor)
Displays the specified `txt` in a normal label at the `yPos` of the current bar. The label points to the upper right.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned below the candle pass 'low'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
normalLabelCenter(txt, yPos, bgColor)
Displays the specified `txt` in a normal label at the `yPos` of the current bar. The label points to the center.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned above the candle pass 'high'. To have it positioned below the candle pass 'low'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
normalLabelDown(txt, yPos, bgColor)
Displays the specified `txt` in a normal label at the `yPos` of the current bar. The label points down.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned above the candle pass 'high'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
normalLabelUp(txt, yPos, bgColor)
Displays the specified `txt` in a normal label at the `yPos` of the current bar. The label points down.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned below the candle pass 'low'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
largeLabelLowerRight(txt, yPos, bgColor)
Displays the specified `txt` in a large label at the `yPos` of the current bar. The label points to the lower right.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned above the candle pass 'high'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
largeLabelUpperRight(txt, yPos, bgColor)
Displays the specified `txt` in a large label at the `yPos` of the current bar. The label points to the upper right.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned below the candle pass 'low'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
largeLabelCenter(txt, yPos, bgColor)
Displays the specified `txt` in a large label at the `yPos` of the current bar. The label points to the center.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned above the candle pass 'high'. To have it positioned below the candle pass 'low'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
largeLabelDown(txt, yPos, bgColor)
Displays the specified `txt` in a large label at the `yPos` of the current bar. The label points down.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned above the candle pass 'high'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
largeLabelUp(txt, yPos, bgColor)
Displays the specified `txt` in a large label at the `yPos` of the current bar. The label points down.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned below the candle pass 'low'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
autoLabelLowerRight(txt, yPos, bgColor)
Displays the specified `txt` in a auto label at the `yPos` of the current bar. The label points to the lower right.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned above the candle pass 'high'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
autoLabelUpperRight(txt, yPos, bgColor)
Displays the specified `txt` in a auto label at the `yPos` of the current bar. The label points to the upper right.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned below the candle pass 'low'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
autoLabelCenter(txt, yPos, bgColor)
Displays the specified `txt` in a auto label at the `yPos` of the current bar. The label points to the center.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned above the candle pass 'high'. To have it positioned below the candle pass 'low'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
autoLabelDown(txt, yPos, bgColor)
Displays the specified `txt` in a auto label at the `yPos` of the current bar. The label points down.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned above the candle pass 'high'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
autoLabelUp(txt, yPos, bgColor)
Displays the specified `txt` in a auto label at the `yPos` of the current bar. The label points down.
Parameters:
txt (string)
yPos (float) : (float): The y-position value. To have it positioned below the candle pass 'low'.
bgColor (color) : (color): The background color value.
Returns: (bool): A boolean value.
指标和策略
RSI Divergence StrategyScript Overview:
Break of Structure Detection: Detects strong breaks above or below key levels (High of Day, Pre-market High).
Fair Rally Gap Identification: Finds a gap after the break of structure.
Entry Setup: Marks potential entries when price pulls back into the fair rally gap.
Time Filtering: Only signals during the specified window (9:30 to 11:00 AM).
High Volume Check: Ensures it's a high-volume ticker.
UT Bot Strategy Backtest with Date RangeBacktesting Strategy for UT Bot Alerts by QuantNomad
Preferred Settings -
• Candles: Heikin Ashi (using standard candles doesn't work
• 15m chart length
• Key value: 1, ATR: 10
• Order size: 50% of equity (make sure to adjust original setting set at 1 contract per order) • • • • Recalculation and order filling - unchecked.
Most Profitable Token: FARTCOIN using above settings.
Futures Globex Session (Auto Session Times)This indicator will automatically change the globex session start and stop times relative to the product you are trading. For it to work correctly you have to be on the continuous unadjusted chart (MES1!, MCL1!, etc..)
Gap Fill Mean Reversion Strategy – NASDAQ 3-MinuteThis is a carefully optimized mean-reversion strategy that targets intraday gap fills on the NASDAQ (US100) using 3-minute charts.
Core Logic:
- Detects gap up/down openings larger than 0.5%
- Confirms reversal with a 3-candle pattern
- Enters only in the direction of the 50/200 EMA trend
- Shorts are filtered using RSI > 60
Risk Management:
- TP: 2 × ATR
- SL: 1 × ATR (capped with max dollar loss)
- Optional trailing stop after 2 × ATR profit
- Only 1 trade per day
Results (Backtest - NASDAQ 3min):
- ~46% win rate
- +681 USD net profit
- 69 trades
- Max drawdown: very low
- Suitable for automation and alert-based execution
Note:
Works ONLY on NASDAQ (US100) 3-minute chart. Other assets or timeframes are not supported due to lack of reliable gaps.
Tested and stable – ready for serious use.
EMA & VWAP Indicator with Trend Bars & Separate Time FramesEMA & VWAP Trend Indicator with Custom Time Frames + Volume Visualization
This powerful all-in-one indicator is designed for traders who rely on dynamic price action, trend confirmation, and multi-timeframe analysis.
Key Features:
7 EMAs with Custom Time Frames: Track short to long-term trends by setting individual time frames and lengths for each EMA.
VWAP Plot: Stay aligned with institutional average pricing for intraday decision-making.
Trend EMA with Color-Coded Bars: Visually identify uptrends and downtrends with automatic bar coloring based on a customizable trend EMA.
Volume with EMA Overlay: Volume spikes or fades? Instantly spot them! Includes an optional EMA on volume to help detect unusual activity or quiet zones.
Whether you're scalping intraday or riding trends across higher time frames, this indicator gives you a clear, color-coded market structure with no fluff.
Parsifal.Swing.TrendScoreThe Parsifal.Swing.TrendScore indicator is a module within the Parsifal Swing Suite, which includes a set of swing indicators such as:
• Parsifal Swing TrendScore
• Parsifal Swing Composite
• Parsifal Swing RSI
• Parsifal Swing Flow
Each module serves as an indicator facilitating judgment of the current swing state in the underlying market.
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Background
Market movements typically follow a time-varying trend channel within which prices oscillate. These oscillations—or swings—within the trend are inherently tradable.
They can be approached:
• One-sidedly, aligning with the trend (generally safer), or
• Two-sidedly, aiming to profit from mean reversions as well.
Note: Mean reversions in strong trends often manifest as sideways consolidations, making one-sided trades more stable.
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The Parsifal Swing Suite
The modules aim to provide additional insights into the swing state within a trend and offer various trigger points to assist with entry decisions.
All modules in the suite act as weak oscillators, meaning they fluctuate within a range but are not bounded like true oscillators (e.g., RSI, which is constrained between 0% and 100%).
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The Parsifal.Swing.TrendScore – Specifics
The Parsifal.Swing.TrendScore module combines short-term trend data with information about the current swing state, derived from raw price data and classical technical indicators. It provides an indication of how well the short-term trend aligns with the prevailing swing, based on recent market behavior.
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How Swing.TrendScore Works
The Swing.TrendScore calculates a swing score by collecting data within a bin (i.e., a single candle or time bucket) that signals an upside or downside swing. These signals are then aggregated together with insights from classical swing indicators.
Additionally, it calculates a short-term trend score using core technical signals, including:
• The Z-score of the price's distance from various EMAs
• The slope of EMAs
• Other trend-strength signals from additional technical indicators
These two components—the swing score and the trend score—are then combined to form the Swing.TrendScore indicator, which evaluates the short-term trend in context with swing behavior.
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How to Interpret Swing.TrendScore
The trend component enhances Swing.TrendScore’s ability to provide stronger signals when the short-term trend and swing state align.
It can also override the swing score; for example, even if a mean reversion appears to be forming, a dominant short-term trend may still control the market behavior.
This makes Swing.TrendScore particularly valuable for:
• Short-term trend-following strategies
• Medium-term swing trading
Unlike typical swing indicators, Swing.TrendScore is designed to respond more to medium-term swings rather than short-lived fluctuations.
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Behavior and Chart Representation
The Swing.TrendScore indicator fluctuates within a range, as most of its components are range-bound (though Z-score components may technically extend beyond).
• Historically high or low values may suggest overbought or oversold conditions
• The chart displays:
o A fast curve (orange)
o A slow curve (white)
o A shaded background representing the market state
• Extreme values followed by curve reversals may signal a developing mean reversion
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TrendScore Background Value
The Background Value reflects the combined state of the short-term trend and swing:
• > 0 (shaded green) → Bullish mode: swing and short-term trend both upward
• < 0 (shaded red) → Bearish mode: swing and short-term trend both downward
• The absolute value represents the confidence level in the market mode
Notably, the Background Value can remain positive during short downswings if the short-term trend remains bullish—and vice versa.
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How to Use the Parsifal.Swing.TrendScore
Several change points can act as entry triggers or aids:
• Fast Trigger: change in slope of the fast signal curve
• Trigger: fast line crosses slow line or the slope of the slow signal changes
• Slow Trigger: change in sign of the Background Value
Examples of these trigger points are illustrated in the accompanying chart.
Additionally, market highs and lows aligning with the swing indicator values may serve as pivot points in the evolving price process.
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As always, this indicator should be used in conjunction with other tools and market context in live trading.
While it provides valuable insight and potential entry points, it does not predict future price action.
Instead, it reflects recent tendencies and should be used judiciously.
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Extensions
The aggregation of information—whether derived from bins or technical indicators—is currently performed via simple averaging. However, this can be modified using alternative weighting schemes, based on:
• Historical performance
• Relevance of the data
• Specific market conditions
Smoothing periods used in calculations are also modifiable. In general, the EMAs applied for smoothing can be extended to reflect expectations based on relevance-weighted probability measures.
Since EMAs inherently give more weight to recent data, this allows for adaptive smoothing.
Additionally, EMAs may be further extended to incorporate negative weights, akin to wavelet transform techniques.
AMD Trading StrategyThis Pine Script implements a trading strategy based on the AMD Model (Accumulation, Manipulation, Distribution), segmented across three main trading sessions:
Asia Session (00:00 - 08:00 GMT)
London Session (08:00 - 16:00 GMT)
New York Session (16:00 - 23:59 GMT)
1️⃣ Session Detection
The script first defines the time ranges for each major market session using timestamp:
Asia: 00:00 to 08:00 GMT
London: 08:00 to 16:00 GMT
New York: 16:00 to 23:59 GMT
It then checks the current time against these ranges to see which session is active (is_asia, is_london, is_newyork).
2️⃣ Buy and Sell Signals
The script calculates:
Buy Signal:
During the Asia session, if the current high is greater than the previous high (high > high ).
During the London session, if the current low is less than the previous low (low < low ).
Sell Signal:
During the New York session, if the closing price is lower than the previous close (close < close ).
These signals are plotted on the chart:
Green BUY label below the candle when a Buy condition is met.
Red SELL label above the candle when a Sell condition is met.
3️⃣ Take Profit Calculation
A dynamic Take Profit Level is calculated:
The TP level is set to 0.5% above the current closing price.
This level is plotted as a blue line for visual reference.
4️⃣ Error Handling
Basic error handling is in place:
If there is missing data (na values) in the high, low, or close, it drops a red label on the chart indicating a "Data Issue".
5️⃣ Multi-Timeframe Support
The script allows you to visualize the strategy in different timeframes:
You can select a timeframe (15m, 1h, 4h, etc.) through the input options.
The price is plotted as a gray line for multi-timeframe reference.
Summary
This script:
Identifies key trading sessions (Asia, London, New York).
Generates Buy and Sell signals based on specific price movements within each session.
Plots a Take Profit line to visualize exit opportunities.
Supports multiple timeframes for broader analysis.
200-Day SMA & EMA with StdDev Bands and Cross TrackingLocks everything to the daily chart, regardless of which timeframe you’re viewing.
Plots two main moving averages:
A 200‑period Simple Moving Average (SMA).
A 200‑period Exponential Moving Average (EMA).
Draws shaded “bands” around each average at ±0.5σ, ±1σ, ±1.5σ, ±2σ, ±2.5σ, and ±3σ, with progressively fainter lines as you move farther from the mean.
Highlights a “stable zone” in the background when price has stayed within one standard deviation of the SMA for more than a user‑defined number of bars.
Detects and marks “deviation crossovers” between the SMA and EMA bands at 2σ, 2.5σ, and 3σ levels:
Draws a small circle at the crossover point.
Extends a line forward 500 bars at that price.
Automatically removes that line if price later touches it.
Marks Golden and Death Crosses (when the 50‑day EMA crosses the 200‑day EMA):
“GC” for Golden Cross, plotted in green.
“DC” for Death Cross, plotted in red, with the same forward‑extending line logic.
Intraday session start indicatorThis simple tool helps intraday traders by drawing a vertical line at the start of each new daily session. It’s useful for identifying session boundaries and analyzing price action around the open.
✅ Customizable line color
✅ Clean and lightweight – no clutter
🚫 No buy/sell signals – purely a visual guide
Great for scalpers and day traders who want to keep track of daily opens on lower timeframes.
CCL en USD para Argentina
💸 convert any argentine stock to USD CCL — directly on your chart
this script lets you see the price of any argentina-listed stock (in pesos) adjusted to the “contado con liquidación” (ccl) dollar, using a reference adr.
🔧 what does it do?
automatically detects the price of the current ticker in argentine pesos (ars)
calculates the daily ccl using two tickers: a local one (e.g. BCBA:GGAL) and its adr in usd (e.g. NASDAQ:GGAL), plus its ratio (*10)
adjusts all chart candles (open, high, low, close) to usd ccl
displays the current ccl value on the chart
💡 ideal for argentine traders who operate in pesos but want a real usd reference — no more hacks.
✍️ you can easily change which tickers are used to calculate the ccl via the script settings.
My scriptWhat is Lorem Ipsum?
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum
Turtle Soup DotsHigh and Low Dots for Turtle Soup using 20 candle (configurable) look back period.
Configurable dot colors.
Price Lag Factor (PLF)📊 Price Lag Factor (PLF) for Crypto Traders: A Comprehensive Breakdown
The Price Lag Factor (PLF) is a momentum indicator designed to identify overextended price movements and gauge market momentum. It is particularly optimized for the crypto market, which is known for its high volatility and rapid trend shifts.
🔎 What is the Price Lag Factor (PLF)?
The PLF measures the difference between long-term and short-term price momentum and scales it dynamically based on recent volatility. This helps traders identify when the market might be overbought or oversold while filtering out noise.
The formula used in the PLF calculation is:
PLF = (Z-Long - Z-Short) / Stdev(PLF)
Where:
Z-long: Z-score of the long-term moving average (50-period by default).
Z-short: Z-score of the short-term moving average (14-period by default).
Stdev(PLF): Standard deviation of the PLF over a longer period (50-period by default).
🧠 How to Interpret the PLF:
1. Trend Direction:
Positive PLF (Green Bars): Indicates bullish momentum. The long-term trend is up, and short-term movements are confirming it.
Negative PLF (Red Bars): Indicates bearish momentum. The long-term trend is down, and short-term movements are consistent with it.
2. Momentum Strength:
PLF near Zero (±0.5): Low momentum; trend direction is not strong.
PLF between ±1 and ±2: Moderate momentum, indicating that the market is moving with strength but not in an overextended state.
PLF beyond ±2: High momentum (overbought/oversold), indicating potential trend exhaustion and a possible reversal.
📈 Trading Strategies:
1. Trend Following:
Bullish Signal:
Enter long when PLF crosses above 0 and remains green.
Confirm with other indicators like RSI or MACD to reduce false signals.
Bearish Signal:
Enter short when PLF crosses below 0 and remains red.
Use trend confirmation (e.g., moving average crossover) for better accuracy.
2. Reversal Trading:
Overbought Signal:
If PLF rises above +2, look for signs of bearish divergence or a reversal pattern to consider a short entry.
Oversold Signal:
If PLF falls below -2, watch for bullish divergence or a support bounce to consider a long entry.
3. Momentum Divergence:
Bullish Divergence:
Price makes a lower low while PLF makes a higher low.
Indicates weakening bearish momentum and a potential bullish reversal.
Bearish Divergence:
Price makes a higher high while PLF makes a lower high.
Signals weakening bullish momentum and a potential bearish reversal.
💡 Best Practices:
Combine with Volume:
Volume spikes during high PLF readings can confirm trend continuation.
Low volume during PLF extremes may hint at false breakouts.
Watch for Extreme Levels:
PLF beyond ±2 suggests overextended price action. Use caution when entering new positions.
Confirm with Other Indicators:
Use with Relative Strength Index (RSI) or Bollinger Bands to get a better sense of overbought/oversold conditions.
Overlay with a moving average to gauge trend consistency.
🚀 Why the PLF Works for Crypto:
Crypto markets are highly volatile and prone to rapid trend changes. The PLF's adaptive scaling ensures it remains relevant regardless of market conditions.
It highlights momentum shifts more accurately than static indicators because it accounts for changing volatility in its calculation.
🚨 Disclaimer for Traders Using the Price Lag Factor (PLF) Indicator:
The Price Lag Factor (PLF) indicator is designed as a technical analysis tool to gauge momentum and identify potential overbought or oversold conditions. However, it should not be relied upon as a sole decision-making factor for trading or investing.
Important Points to Consider:
Market Risk: Trading cryptocurrencies and other financial assets involves significant risk. The PLF may not accurately predict future price movements, especially during unexpected market events.
Indicator Limitations: No technical indicator, including the PLF, is infallible. False signals can occur, particularly in low-volume or highly volatile conditions.
Supplementary Analysis: Always combine PLF insights with other technical indicators, fundamental analysis, and risk management strategies to make informed decisions.
Personal Judgment: Traders should use their own discretion when interpreting PLF signals and never trade based solely on this indicator.
No Guarantees: The PLF is designed for educational and informational purposes only. Past performance is not indicative of future results.
Always perform thorough research and consider consulting with a professional financial advisor before making any trading decisions.
Extended Altman Z-Score ModelThe Extended Altman Z-Score Model represents a significant advancement in financial analysis and risk assessment, building upon the foundational work of Altman (1968) while incorporating contemporary data analytics approaches as proposed by Fung (2023). This sophisticated model enhances the traditional bankruptcy prediction framework by integrating additional financial metrics and modern analytical techniques, offering a more comprehensive approach to identifying financially distressed companies.
The model's architecture is built upon two distinct yet complementary scoring systems. The traditional Altman Z-Score components form the foundation, including Working Capital to Total Assets (X1), which measures a company's short-term liquidity and operational efficiency. Retained Earnings to Total Assets (X2) provides insight into the company's historical profitability and reinvestment capacity. EBIT to Total Assets (X3) evaluates operational efficiency and earning power, while Market Value of Equity to Total Liabilities (X4) assesses market perception and leverage. Sales to Total Assets (X5) measures asset utilization efficiency.
These traditional components are enhanced by extended metrics introduced by Fung (2023), which provide additional layers of financial analysis. The Cash Ratio (X6) offers insights into immediate liquidity and financial flexibility. Asset Composition (X7) evaluates the quality and efficiency of asset utilization, particularly in working capital management. The Debt Ratio (X8) provides a comprehensive view of financial leverage and long-term solvency, while the Net Profit Margin (X9) measures overall profitability and operational efficiency.
The scoring system employs a sophisticated formula that combines the traditional Z-Score with weighted additional metrics. The traditional Z-Score is calculated as 1.2X1 + 1.4X2 + 3.3X3 + 0.6X4 + 1.0X5, while the extended components are weighted as follows: 0.5 * X6 + 0.3 * X7 - 0.4 * X8 + 0.6 * X9. This enhanced scoring mechanism provides a more nuanced assessment of a company's financial health, incorporating both traditional bankruptcy prediction metrics and modern financial analysis approaches.
The model categorizes companies into three distinct risk zones, each with specific implications for financial stability and required actions. The Safe Zone (Score > 3.0) indicates strong financial health, with low probability of financial distress and suitability for conservative investment strategies. The Grey Zone (Score between 1.8 and 3.0) suggests moderate risk, requiring careful monitoring and additional fundamental analysis. The Danger Zone (Score < 1.8) signals high risk of financial distress, necessitating immediate attention and potential risk mitigation strategies.
In practical application, the model requires systematic and regular monitoring. Users should track the Extended Score on a quarterly basis, monitoring changes in individual components and comparing results with industry benchmarks. Component analysis should be conducted separately, identifying specific areas of concern and tracking trends in individual metrics. The model's effectiveness is significantly enhanced when used in conjunction with other financial metrics and when considering industry-specific factors and macroeconomic conditions.
The technical implementation in Pine Script v6 provides real-time calculations of both traditional and extended scores, offering visual representation of risk zones, detailed component breakdowns, and warning signals for critical values. The indicator automatically updates with new financial data and provides clear visual cues for different risk levels, making it accessible to both technical and fundamental analysts.
However, as noted by Fung (2023), the model has certain limitations that users should consider. It may not fully account for industry-specific factors, requires regular updates of financial data, and should be used in conjunction with other analysis tools. The model's effectiveness can be enhanced by incorporating industry-specific benchmarks and considering macroeconomic factors that may affect financial performance.
References:
Altman, E.I. (1968) 'Financial ratios, discriminant analysis and the prediction of corporate bankruptcy', The Journal of Finance, 23(4), pp. 589-609.
Li, L., Wang, B., Wu, Y. and Yang, Q., 2020. Identifying poorly performing listed firms using data analytics. Journal of Business Research, 109, pp.1–12. doi.org
RSI Divergence StrategyFeatures:
RSI Divergence Detection:
Identifies bullish divergence (price makes lower low, RSI makes higher low).
Identifies bearish divergence (price makes higher high, RSI makes lower high).
Entry Signals:
Buy signal plotted when bullish divergence is detected.
Sell signal plotted when bearish divergence is detected.
Take Profit (TP) and Stop Loss (SL):
Plotted on the chart for both long and short trades.
Uses a 1:2 Risk/Reward ratio.
Visual Representation:
Green lines for Take Profit.
Red lines for Stop Loss.
Labels for Buy and Sell signals.
Alerts:
Alerts configured for both Buy and Sell signals.
Enhancements:
Multi-Timeframe Confirmation:
Added an input to select a higher timeframe (15m by default).
RSI on the higher timeframe is checked:
Bullish Divergence: Requires the higher timeframe RSI to be below the lower level.
Bearish Divergence: Requires the higher timeframe RSI to be above the upper level.
Logic Adjustment:
The entry signals are now filtered to only trigger if the higher timeframe RSI matches the trend.
Custom Timeframe Selection:
You can adjust the confirmation timeframe directly from the indicator settings in TradingView.
Vietnamese Stock Market FTD (Follow Through Day) AlertA Pine Script implementing William O'Neil’s Follow Through Day (FTD) strategy for the Vietnamese stock market. It scans 7 predefined sector groups (Banks, Real Estate, Retail, etc.) to detect momentum breakouts.
Key Features :
Triggers an FTD signal when ≥X groups (default: 3) have ≥Y stocks (default: 2) rising above a Z% threshold (default: 5%) daily.
Highlights qualifying stocks by group in a dynamic label during alerts.
Visualizes strength via histograms and background shading.
Open-source under Mozilla Public License 2.0 .
Purpose : Identify institutional buying and potential market reversals.
Nasdaq 50-Point Zonespoint zones separating pirice increments point zones separating pirice increments point zones separating pirice increments point zones separating pirice increments
OpSindoor - First 15-Min Breakout StrategyOpen 15 Mins candle Breakout with zones to avoid fakeouts, entries only outside the grey zone
XAU/USD Scalping Signal Bot [Phase 3]XAU/USD Scalping Visual Bot 1.0
Description:
This is Phase 1 of a multi-phase scalping bot built for XAU/USD (Gold/USD) on TradingView using Pine Script v5.
It automatically detects and visually marks bullish and bearish order blocks using rectangles (green for bullish, red for bearish), based on key candle structure.
Also includes the core logic for TDI (Traders Dynamic Index) to prepare for directional signals and trend confirmation in later phases.
Designed for scalpers on the 1-minute chart but supports higher timeframe trend analysis.
Key Features:
• Auto-detection of order blocks
• Visual zones drawn across the chart
• TDI RSI logic groundwork
• Full support for future visual overlays, alerts, SL/TP, and pip projection
Ideal for traders looking to manually confirm scalping setups or develop automated strategies.
RSI-14 on 15mThis Pine Script indicator visualizes the RSI-14 from the 15-minute timeframe on any chart and highlights extreme zones with conditional fill effects. It fetches the RSI using request.security() to ensure consistency across all chart timeframes and overlays it in a dedicated pane. The base RSI line is plotted in gray, while horizontal dashed lines at 70 and 30 represent overbought and oversold thresholds, respectively.
The standout feature is the conditional fill: when RSI exceeds 70, a semi-transparent red area is filled above it; when RSI falls below 30, a green fill highlights the oversold zone. This dynamic visualization draws attention to key reversal areas without cluttering the chart.
In the commented-out section, there's an alternative approach using plotshape() to mark RSI crosses with triangle icons: red downward triangles when crossing above 70, and green upward triangles when crossing below 30. This is useful for traders who prefer discrete alerts at exact moments when RSI touches extreme levels.
This script is ideal for multi-timeframe RSI monitoring, allowing traders to see 15-minute momentum while analyzing price action on other timeframes. It's lightweight, customizable, and effective for spotting potential reversal zones visually and intuitively.