S/R Trendlines for TradingView

We are pleased to introduce a TradingView adaptation of our flagship S/R Analyst Pro product in the form of a new indicator called S/R Trendlines. It is the ultimate tool for the trader or investor who wants to fully exploit the power of support/resistance and trendlines in his or her trading.

Using a set of rules and user-defined weightings it mathematically identifies, draws, and updates the best trend lines (up to 3 upper trendlines and up to 3 lower trendlines) based on recent price action. It also automatically identifies and draws the two most recent gap zones in the vicinity of current price as well as up to four of the strongest s/r (support/resistance) levels found in the price action.

Highlighting open gaps just above current resistance.

A side benefit is that the combination of trend lines and s/r lines that it produces also tend to highlight a number of important price patterns, such as double tops and bottoms, triangles, flags, pennants, and wedges.

S/R Trendlines uses the concept of an 'Ignore Zone' which, by default, is comprised of the most recent 3 price bars and is shaded in light grey. Trendline or s/r level breaks that occur in the Ignore Zone do not invalidate the trendline or the s/r level. Thus you can see the breakouts as they occur and make your trading decisions before the invalidated trendlines or s/r levels are removed from the chart.

Support/resistance levels displayed as dashed lines.

With a large number of settings that can be adjusted by the user, S/R Trendlines can be customized to a high degree, and it is very easy to use and understand... even for beginners.

The indicator itself is available on our Products page...just select the TradingView category in the indicator section.


Divergence Software, Inc.
www.sr-analyst.com
support@sr-analyst.com
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Triangle Pattern for TradingView

Finding a relatively safe, simple, and reliable mechanism to trade the markets day in and day out is not easy. There are a lot of "black-box" systems out there that claim good results, but with a closed system you never fully understand how it works and under what conditions it might fail. Also, in that environment you will never actually learn how to trade by making your own decisions.

One of the first books recommended to me when I first became interested in trading/investing was Technical Analysis of Stock Trends by Edwards and Magee, and it is one of the few that I still refer to today. While the examples in the book are quite old, the methodology outlined in the book (specifically with regard to support and resistance and trading price patterns) still holds true in the modern markets.

Price patterns, such as the triangle, are well documented, they occur frequently in all securities and time frames, and are relatively easy to trade for newbies and veterans alike. They are particularly prevalent in the Forex market which, of course, is quite popular at the moment.

The triangle is a consolidation pattern and it can occur at any time. The best triangles, though, are those that occur during a strong trend (bullish or bearish). After a strong move the market will take a breather and consolidate for a period of time before resuming the previous trend. This consolidation often takes the form of the Triangle pattern which is a series of diminishing coils typically with diminishing volume.

As the price action nears the apex of the triangle a breakout will occur on higher volume. The breakout is expected to be in the direction of the prior trend, the price target is the breakout point plus the overall height of the triangle, and the stop is typically placed at the most recent swing low/swing high just prior to the breakout. If you scan through charts for almost any symbol, and on any bar interval, you will see this happen over and over again.

The Triangle Pattern for TradingView indicator automates the triangle identification process. It looks for price action that typically indicates the beginning of a triangle formation, and it draws an outline giving you an idea as to the height and the length of the pattern (it will also trigger a TradingView alert). Not all patterns found by the indicator will develop into actionable triangles, but a good number of them will. And as long as you follow a few basic rules (outlined in the User Guide) you can generate a good number of trades per day just by monitoring a small basket of symbols/intervals.

More information is available in the User Guide. The indicator itself is available on our Products page...just select the TradingView category in the indicator section.

Divergence Software, Inc.
www.sr-analyst.com
support@sr-analyst.com
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HPC Lite for TradingView

TradingView (www.tradingview.com) is rapidly becoming the most widely used online financial platform, and for years it has been one of the most requested platforms for our Harmonic Pattern Collection (HPC) product. Until recently, though, it was not possible to port our HPC product to the TradingView platform due to limitations in their PineScript language.

In June of last year TradingView made some significant changes/upgrades to the language and we set out to develop a version of HPC that would work in the TradingView online and mobile environment.

The result is HPC Lite for TradingView. It consists of 5 indicators...one to identify and draw all MW patterns (e.g., Crab, Bat, Gartley, etc.), another to identify and draw all Shark and ABCD patterns, and the remaining three indicators to plot the HSI, HSI Arrows, and ampRSI which are the primary supporting indicators for the HPC product.

We call it "HPC Lite" because there are still some code-size, code-complexity, and overall functionality restrictions in PineScript that prevent us from implementing all of the features that we have in our desktop HPC versions. That said, it is still an impressive product that does a great job in identifying recent tradeable patterns, and it will all run in the TradingView mobile app as well as their online charting platform.

The HPC Lite for TradingView product is part of our HPC Collection and we currently have versions available for eSignal, NinjaTrader, MetaTrader, Sierra Chart, TradingView, and Thinkorswim.

For more information please visit the HPC Lite for TradingView landing page.

Divergence Software, Inc.
www.sr-analyst.com
support@sr-analyst.com
Contact Us/Subscribe