Heuristics

This Indicator has been temporarily suspended by trading view, we highly recommend ToT Heuristics as good near copy alternative.

https://www.tradingview.com/script/mhBRs2QN-TotT-Heuristics/

Tot Heuristics

Tot- Heuristics, is designed for use in TradingView, serves as a comprehensive trading indicator. It combines various technical analysis methods to help traders make informed decisions. Here's a breakdown of its key features:

1. Multiple Moving Averages:

   • The script calculates different types of moving averages like EMA (Exponential Moving Average), DEMA (Double Exponential Moving Average), T3, and others. Each moving average type offers a unique way to smooth out price data over a specified period, helping to identify trends.

2. Customizable Time Frame and Lookback Period:

   • Users can choose whether to apply the indicator to the current time frame or set a custom one.

   • The "Look back Period" input allows users to define the number of periods used in calculating the moving averages, affecting how sensitive the indicator is to price changes.

3. Heikin Ashi Smoothness:

   • The option to use Heikin Ashi for smoothing indicates that the script can modify how the price data is averaged, potentially offering a clearer view of the trend by reducing noise.

4. Signal Visualization:

   • The script is designed to visually present buy and sell signals. This can be through color changes in the price bars or plotted shapes on the chart, making it easier to spot potential entry or exit points.

5. Customization of Signal Display:

   • Users can toggle various display options, such as showing mid-points, waveforms, and color bars, to tailor the visual output to their preferences.

6. Exhaustion Points:

   • The script identifies potential exhaustion points in a trend, which can be crucial for recognizing when a trend might be losing momentum.

7. Take Profit and Stop Loss Indicators:

   • It includes functionality to set take profit and stop loss levels, an essential aspect of risk management in trading.

8. Overbought/Oversold Conditions:

   • The script assesses overbought and oversold conditions using a modified Bollinger Bands approach, which could be useful for spotting potential reversal points.

9. Alert Conditions:

   • Users can set up alerts for specific conditions like uptrends or downtrends, allowing for timely decision-making.

10. Candle Coloring Based on Conditions:

    • The script can color the price bars based on certain conditions (like pullbacks), providing a quick visual cue on market sentiment.