eSignal Study:  Monday's trading range sets the stage for the rest of the week. Thus, it's important to identify its range.  We use Fibonacci extensions of this range to identify postential support and resistance levels.

There is special handling of holidays falling on a Monday, which is user configurable in the parameters.

In the example image (emini future), the left chart is what this script outputs. The right chart is the same chart with added explanatory descriptions. 

IMPORTANT: This script is intended to only run on Regular Trading Hours (RTH, 8:30-15:00 CST) charts whose interval is evenly divisible by 390 (the number of minutes in RTH). This guarantees each day has an equal number of bars.  The results will not be accurate otherwise. 

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study: A trailing stop provides a systematic way to know when to exit a trade. It is especially useful for trend traders and breakout traders who like to let profits run while maintaining a logical exit for when the market trend changes so they can exit their position in a controlled and timely manner. Using efficient stops is applicable to all markets from equities and options to forex and futures and e-mini and in any timeframe.

This study is intended to assist traders looking for a systematic way to follow their trades with a trailing stop or to be alerted to changes in market trends. As its name suggests this indicator uses "Average True Range" to trail a stop behind prices. We use average true range in our trailing stop indicator instead of a fixed percentage because this allows the trailing stop to adjust to the volatility of the market in which it is being used.

Using the correct settings, this script can also be used to determine bias.  Bullish, trading above the line, bearish below.  

For additional guidance on using the ATR Trailing Stop, please visit this article. 

The period and multiplier are customizable to suit the vehicle you are trading.  Plus, the colors and line thickness are also customizable!

BONUS! Also available is the ATR Trailing Stop "Band".  This works the same way as the ATR Trailing Stop, but shows the ATR TS level above AND below the price.  This can be useful for setting targets as well as your stop.

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study: The Darvas box method was designed by Nicolas Darvas and explained in his best selling book 'How I Made $2,000,000 In The Stock Market'. The Darvas method looks to identify strong trending markets that then consolidate before resuming their trend.

What Darvas observed was that up trending stocks typically advance for a while, then stall and consolidate, then advance again. This stalling and consolidation process he called forming a box. Once a box is firmly established, Darvas says a break out above the upper line of the box is a buy signal. A drop below the bottom of the box is a sign that the stock’s trend has changed and a sell signal. 

Like all our studies, this study is highly customizable, from the colors, line thickness, displaying prices, to audible alerts!

We found the ATR Trailing Stop indicator compliments the Darvas box trading method. More details on this indicator, please click here.

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  It is very useful to know tomorrow's pivot point (TPP) as it can act as support/resistance as well as bias.  This script dynamically outputs the TPP as the day progresses using the current day's high, low, and close (as opposed to yesterday's HLC, which is how the normal PP is calculated).

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study: Sometimes other symbols may act as a leader for the specific symbol you have on the chart.  Thus, you find yourself often looking at the price of that other symbol.  This script outputs the price of that symbol on the chart for you for easy reference.  The color is red for down or green for up.

It allows two methods of watching the change of that symbol: the change from the previous close or the change from its open.

An example of only caring about the change from the open would be $VOLD ("NYSE $UVOL Minus $DVOL").  Each day, this specific symbol starts near zero, so its change from the previous day may not be as important.  However, where it goes after the open can be very important!

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study: eSignal provides a very useful tool in calculating Fibonacci "extensions" (sometimes known as "projections").  This practice involves taking a measurement of past price movement and "projecting" that price distance from a new high or low.  Certain fibonacci precentages of that movement can often prove to be support or resistance.  This script supports x.272, x.382, x.50, x.618, x.786, x.0, 4.236, 5.1, 6.85, 11.09, 17.94, 29.03.  All levels listed with an "x" means it will output multiples of that level, such as 0.272, 1.272, 2.272, 3.272, etc. set via the "max number of levels" parameter.

The problem with the built-in version of this tool is it is often difficult to be exact in the selection of the high or low of a bar.  If you are basing decisions, trades, and MONEY on a given level, you want it to be as exact as possible.  Also, if you want to change the level you are measuring, often it is time consuming to redraw these levels.  Finally, the built-in version of this tool only allows a fixed amount of levels to output.  This script attempts to solves all these problems!

INSTRUCTIONS: When you use eSignal's "fib ext" tool, there are three clicks involved: The high of a movement, the low of a movement, and where to extend the projection from.  

This tool acts very similarly.  On the bottom left of the chart are the controls. 

Step 1:  Initially, no points are set, so it says "NO" next to the 3 points.  To start, click the "Set 1" button to tell it you want to set the first point.  The label changes to "SEL" (short for "select") letting you know that it is ready for you to set the first point.  Merely double-click the high of the bar you which to select.  A small dash will be drawn on the selected high and the message will change to "CHK" (short for "check").  If you accidently double-click the wrong bar, merely repeat this step and select the correct bar.

Step 2: Next, similar to step 1, click "Set 2" and double-click the high of where you which to project from.  The script will automatically determine the lowest point of these two points and automatically set point 3!  A real time saver!  

Step 3: After step 2, verify that the automatically calculated third point is the one you wish to use (look for the blue dash on the low of the bar).  If this isn't the point you which to use, you can over-ride this level using the method outlined in the above steps.

In the example image (be sure to click "enlarge image" to see the full image) there are two charts.  For simplicity sake, only the 1.0 levels are shown.  The left chart is what the script outputs after you select the points.  The chart on the right gives a description of what it is outputting: the three points, the range from point 1 to point 3, then the projection of this length from point 2.  The level at "1.0" is 100% of this disance.  The level at "2.0" is 200% of the distance, etc.  As you can see, from the chart, major support was found at this area!

If you which to change any of these levels, merely reset that point.  Quick and easy! 

To clear the lines and reset the tool, just click the "Clear" button. 

This script will work on all time frames.  As with all our scripts, this script is highly customizable!

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free). 

eSignal Study: The Emini (like many markets) often will retrace to the previous day's close in any given day.  When the market opens, this price difference is considered the "gap".  Sometimes this "gap" is not filled.  In future trading sessions, if the market reaches an unfilled gap, there is a high chance that support or resistance will be found there.  Thus, it is extremely important as a day trader to be aware of these levels! 

This script monitors the last 6 months of unfilled gaps on the S&P Emini (ES) and outputs the levels on the chart.  This script uses the 4:00pm EST close (rather than the 4:15 pm EST close) as this is the close of the actual S&P index and most other vehicles, such as the SPY, etc.

Line colors, thickness, and style are all customizable!

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free). 

eSignal Study:  Based on the strategy by BruceM, described here and here.  The basic idea is, "When you have three, 5-minute bars in a row, with a matching low or high, that low or high will get traded back to on the same day."  This script helps identify when these situations occur.  When they are violated, the line is automatically removed, as it is no longer in play.  You may optionally disable this feature and all lines will remain.

In the example image, three (or more) 5-minute bars with the same low occur.  A line is automatically drawn alerting you of this situation.  On the next chart (be sure to click to enlarge the image), subsequent bars trade back down to that level (and lower).  Thus, the line is automatically removed. 

What this tells you is, when a "running triple" occurs (three lows), going LONG above this level is riskier until that level is re-touched or "filled". (The opposite would be true for thee highs.)  This is because, chances are, price should return to this level sometime within the same day.

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  Draws the Market Profile on the chart.  Instead of outputting TPO (Time Price Opportunities) as letters, they are merely lines in the form of a histogram (as shown in the example image).  

IB (Initial Balance, first 60 minutes of trading) is indicated by small red ticks on the histogram.  

Value Area is the first standard deviation (contains 70% of TPOs in a profile) and is colored blue.

POC (Point of Control, the price the most TPOs occurred) is indicated by a completely red bar on the histogram as well as a red line drawing on the chart.  This line gives you a history of the POC as it develops.

Range Extension is any lines above or below the IB on the histogram. 

The histogram for the current day is considered "developing" (DVA, DVAL, DVAH, DPOC, etc), since they are all values that can (and will) change throughout the day.

As always the colors and behavior of the script is highly customizable! 

PRO TIP 1:  If you are using a RTH chart (Regular Trading hours) and a 5-minute interval, you may want to set the histogram to draw "RightToLeft" and set the offset to 78 (390 minutes in RTH divided by 5 minutes is 78 bars).  This will put the histogram at the right edge of each day's trading.  This will allow you to more easily see the previous day's value area from the current day's trading.  It will also allow the current day's histogram to grow without getting in the way of the developing bars (until late in the day, as expected).  You can see this in the example image.  Otherwise, setting the histogram to draw from "LeftToRight" with an offset of 0, will put it at the left edge of each day. 

PRO TIP 2:  This script is designed to draw a TPO (Time Price Opportunity) every bar.  Therefore, if you are on a 3-min chart, it will add a TPO every 3 minutes.  The original idea behind Market Profile was to have a TPO every 30 minutes.  Therefore, it's recommended to run on a 30-min chart with a time template of regular trading hours (RTH) between 8:30-15:15 CST.

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study: This study offers all of the features as the free version and more!  Some of the PRO-only features include seeing "tomorrow's pivots" (calculated using the current day's HLC), weekly pivots, monthly pivots, fibonacci retracements between the pivot levels, and more!

Pivot levels act as powerful levels of support and resistance. These levels are where market price will potentially rotate back to where market price came from or will continue and make a significant move away from the pivot level. There are multiple ways of calculating these pivot levels: Classic, Floor, Woodie, DeMark, and Camarilla. This study supports all five pivot level types!
 
The "Floor" pivot type is most common for forex markets, but works very well on commodities as well. "Woodie" is similar to "Floor", but more weight is given to the close. "DeMark" levels give a prediction for the high and low for the given period.

The script has the option to display "tomorrow's pivots", which is calculated using the current day's HLC, as if the market closed that instant.  As the day progresses, these levels will change as the day's HLC changes, as you'd expect. 

This script has the option of displaying "weekly pivots" (which use the HLC of the previous week) and "monthly pivots" (which use the HLC of the previous month).

For additional guidance for using pivot points, please read this informative article.  

The type of pivot levels, line style, line thickness, line colors, and the existance of labels are all customizable!

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  Allows the user to designate certain areas of importance on a chart.  These levels can be on the high time frames (daily, weekly, or monthly) or intraday.  The study allows 10 zones, each with its own color.  TIP: It is important to set the color correctly, so it doesn't interfere with seeing the bars themselves.

This script is similar to the "Time Segments" script, but instead of highlighting a period of time, you're highlighting a price range.

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  When trading with tick charts or volume charts, sometimes it is useful to see how long each bar takes to draw and if that amount of time is increasing or decreasing.  Or, sometimes it is useful to see the average bar time to determine what tick/volume chart to use.  For example, if you want each bar to take around 3 minutes to draw and you see that the average bar time is about 10 seconds, you may want to try a larger tick/volume chart (or vice versa).

When a weekend passes or an overnight passes, sometimes the bar times can get very huge, which throw off the averages.  There is an optional/configurable filter setting in the study to handle this situation.

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  Outputs lines showing the high and low of the day, week, and month as these levels can often provide support or resistance (double top/bottom).  It is also useful when the high or low of the day is off the chart and you don't realize that you are making a new high or low.  If two of these levels overlap, it is smart enough to consolidate the label.

Be aware, for stocks and ETFs, this script does not include pre-market movement in determining the high and low.  This is due to how eSignal handles the high and low and not an explicit choice of the study's author.

As with all our tools, this one is highly customizable, from the colors, to turning labels on or off, to how the labels are displayed.

If you have any issues with the script reporting incorrect values, try pulling up a daily chart for the instrument you are having issues with.  This makes sure eSignal has the necessary data loaded.  Afterwards, you can return to the time frame you were originally using.  Unfortunately, this script relies on eSignal telling it the correct information, so the only solution is to make sure eSignal loads the data properly as described.

IMPORTANT:  This script reports back what eSignal shows as the range of the current day.  If the script is showing obviously incorrect levels, open the current symbol in a daily chart to make sure that eSignal loads all the necessary data.  When you return to your previous intra-day interval, it should show the correct values.

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  Automatically draw fib levels of both long and short bias.  The script will display "up" or "down" to give an indication of which direction the levels are drawn from.  If the 0.618 level is broken, it will look to the next larger pullback to determine the fib levels.  

Light gray levels will display the next 50% levels calculated using even larger pullbacks.  In other words, if the currently displayed 0.618 level is broken, one of these gray levels will most likely be the next 50% level drawn.  If a gray line is larger or bold looking, it means it was drawn from a primary pivot.  Thus, it may give a stronger support/resistance.

IMPORTANT: eSignal's Advanced GET is required for this study and it will not work without it!  

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  Automatically draw user defined fib levels.  The script will display "up" or "down" to give an indication of which direction the levels are drawn from.  It bases this on the last pivot type.  In other words, if the last Primary or maJor pivot is a "low" pivot, then it treats the bias is "up".  If the last P or J pivot is a "high" pivot, then it treats the bias as "down".  As new bars come in and as new pivots are created, this will automatically adjust.

Due to the fact this script looks at the Advanced GET pivots, AGET is required for this script. 

IMPORTANT: eSignal's Advanced GET is required for this study and it will not work without it!  

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  This is an advanced study that takes some playing with to understand and use.  Based on the work by W.D. Gann, certain levels can be calculated given a certain market extreme price (such as a high or a low).  Gann calls these calculated levels "degrees".  These degrees can give a idea of support and resistance levels based on that one price number.

Depending on how an instrument is priced, the "factor" needs to be tweaked to give accurate levels.  For example, intraday 6E may work best with a factor of 5.  Whereas, the ES daily may work best with a factor of 0 or -1.

This tool is highly customizable!  To use this script, double-click the low or the high of a bar to calculate the support or resistance levels.

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  When trading with the trend, often it is useful to look at previous pullbacks in determining the size of the next pullback.  This is called "symmetry".  This script does some of the measuring dirty work for you.

INSTRUCTIONS: Use the "BIAS" button to switch between long or short bias, then select the pivot type to use (labeled "PIV" on the chart).  In other words, if the pivot is set to "P", it will look at the last "Primary" pivot and see how large that pullback was.  It is recommended that you turn on all AGET Pivots to help determine which pivot to use.  Based on the size of that previous pullback, little dashes will be displayed to show where a 1:1 pullback would be, or a 1:0.618 pullback, etc.  Playing with eSignal's "Fib Ext" tool you can quickly see what this script is displaying, except you won't have to draw it yourself each time.

In the example image, there are three charts (be sure to click to enlarge the image).  The left chart is what the script outputs.  The middle chart shows some description of what the script is outputting.  The right chart shows what happens when you adjust the pivot to look for another pullback (described later).  The dark blue line shows the move that the script is measuring.  From the most recent high, it takes this same measurement and draws a blue dash where there is a 1:1 pullback (shown by the arrow).  The maroon dash is 61.8% of this distance and the olive dash is 127.2% of this distance.  The cyan dash is merely a 50% retracement from the low to this recent high.  The idea is that, based on the previous pullback, if we were to pullback again, then percentages of the previous pullback would offer support as well (symmetry).

Using the controls outputted on the bottom left of the screen, you can click the left and right arrow buttons to adjust which pivot type the script is looking at (Primary, maJor, Intermediate, or Minor).  In the example image (third chart), the "I" is highlighted, so it will look for the last Intermediate pullback.  As opposed to the first two charts, where "Primary" was highlighted, thus looked for the last "Primary" pullback.

IMPORTANT: eSignal's Advanced GET is required for this study and it will not work without it!  

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  Calculate the closest MA to the high or low of given bar.  To use, double-click the top of the bar to find MA based on the HIGH of that bar.  Or, double-click the bottom of the bar to find the MA based on the LOW of that bar.  You may quickly change the type of the MA used (sma, ema, wma, or vwma) by using the buttons outputted to the chart.

In the example image, the low of the bar is double clicked and the script determined that a 26 sma is the best fitting moving average for that bar.  The controls on the bottom left allow you to quickly change between sma, ema, wma, and vwma. 

If an MA is not found, a "NA" will be displayed. 

Note: This script will not work properly with other scripts that utilize this "double-click" functionality. 

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  Output the News events for the day to the "formula output window".  This study supports Forex Factory and Econoday news feeds.  For Forex Factory, it allows selection of a particular country (or all) news events.

Optionally, you can have an audible alert when a news event is approaching.  For example, "News in 15 minutes".  Be sure to download and install the "Sound Pack" below for those WAV files.

Make sure the "formula output window" is open by going to Tools > EFS > Formula Output Window (v10).  In eSignal v11, it's merely Tools > Formula Output.

Note: This script does not offer the result of the news event, merely a summary, their times, and alert of their approach.

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

IMPORTANT: This script requires the Sound Pack.  You can download it here (free).

eSignal Study:  Similar to other "gauge" indicators on this site, this script gives the bias/trend based on the crossing of 2 given MA's from multiple time frames on a single chart.

A common technique to determine bias is to look at two moving averages (one "slow" and one "fast").  When the "fast" MA is above the "slow" then that shows a bullish bias.  The opposite is true if the "fast" MA is below the "slow" MA.  To take this concept one step further, this script monitors two moving averages across mutiple time frames.

In the example image, it is using the 32 sma (Simple Moving Average) and the 50 sma on the 5, 15, 30, 60, 120, 240 minute time frames.  If the block has a green background, the "fast" MA is above the "slow" MA showing bullishness.  The text is also green showing they are also separating, showing even more bullishness (this is the situation for the 30, 60, and 120 minute time frames in the example image).  The opposite is true for a red background with red text (15 minute).  If the background is showing bullishness, but has red text (such as the 5 minute), then it means the MAs are showing bullishness, but are converging.

For performance reasons, it is recommended to use as few time frames as necessarily.  Set to "0" for none in the parameters.

The moving averages and the time frames are all user definable! 

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  Give the MACD bias/trend from multiple time frames on a single chart.

Similar to other "gauge" indicators on this site, this script allows you to monitor the MACD on multiple time frames from a single place. 

The MACD settings and the time frames are all user definable!  

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  Similar to other "gauge" indicators on this site, this script give the bias/trend based on if PRICE is above or below a given moving average. Displays the bias from multiple time frames on a single chart.

Similar to the MA Cross script, except instead of looking at the relationship of two moving averages, this script looks at the relationship of a single moving average and the current price.

In the example image, it is looking at the 21 ema on the 5, 15, and 30 minute timeframes. Over all three time frames, the current price is above the MA, thus all have a green background.  However, price is moving toward the MA, thus the text is colored red for each.  

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  Based on the gap zones indicated by page 16 of this document, certain daily situations tend to increase the chances of a gap fill on the S&P.  This script outputs the historical percentage of a successful gap fill.

This script is meant to be used at the open.  It looks at the current day's location in relation to the previous day's price action and determines which "zone" it is opening in.  In the example image, it is in zone "7", which has a high percentage chance of filling.  The background color will change if the percentage chance is low (red) or medium (yellow). 

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  The ADX indicator measures the strength of a trend and can be useful to determine if a trend is strong or weak. High readings indicate a strong trend and low readings indicate a weak trend.

Often we don't care the history of the ADX, but merely the current value and if it is above a certain threshold. This indicator displays the ADX value on the chart (as shown in the example image) and color codes it to show if it is above or below the customizable threshold.

Optionally, the script can color-code the bars as to the state of the ADX.  If above the threshold level, then green, if below, then red. In the example image, the threshold is set to "20" (configurable), so if the ADX is below 20, then it colors the bars red, otherwise green.

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  This script gives an alert as the US market open or close is approaching (for example, the 9:30 EST open and 4:00pm EST close). It is customizable to give alerts at 45min, 30 min, 15 min, 10 min, 5 min, 1 min and the open itself.

Alerts appear in the "Triggered Alert List" as well as audible.

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

IMPORTANT: This script requires the Sound Pack.  You can download it here (free).

eSignal Study:   Often it is useful to draw horizontal lines as a reminder of support or resistance levels. Over time, these lines become mystery lines if you can't remember why you put them there.  

Unfortunately, eSignal doesn't have a good way to actually label these lines to tell you what they are. Fortunately for you, we offer this script!  This script allows you to add horizontal lines and actually give it a meaningful label (as illustrated in the image).

The line style, color, and label are customizable!

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Library File: All of the indicators on this site require the neoLibrary.efsLib file.  

   eSignal v10 (32-bit): \Program Files\eSignal\FunctionLibrary

   eSignal v10 (64-bit): \Program Files (x86)\eSignal\FunctionLibrary

   eSignal v11:

      \Users\USERNAME\My Documents\Interactive Data\FunctionLibrary

All studies on this site use the same library file, so you only have to do this once!

eSignal Study:  This script is intended to be used with the Oscillator Study in 3/10 mode. The idea is sometimes a 3/10 cross will happen and then pullback during the same bar. This script will alert of that "skim".

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

IMPORTANT: This script requires the Sound Pack.  You can download it here.

eSignal Study: This script was originally developed for use on daily charts, but it will work on any time frame.  This script gives a quick bias summary of the CCI, RSI, Directional Movement, and Stochastic.  Red for bearish and green for bullish.  If background is red and the text is green, then it means it is bearish but turning bullish.  Similarly, if the background is green and the text is red, then it means it is bullish, but turning bearish.

All studies use default parameters. 

Commodity Channel Index (CCI) - Looks at curent direction (moving up or moving down) and if it is overbought (>100) or oversold (<100).

Relative Strength Index (RSI) - Looks at current direction (moving up or moving down) and if it is overbought (>60) or oversold (<40).

Directional Movement (DM) - Looks at PDI and NDI, which is on top, and whether they are converging or diverging.

Stochastic (STO) - Looks at the K and D, which is on top, and whether K is overbought (>80) or oversold (<20). 

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

eSignal Study:  This script was originally developed for the 6E 1-minute chart to indicate if there is a volume spike.  However, it may work with other symbols or time frames.

The idea is that when there is a large candle with high volume, this could indicate exhaustion and a possible price reversal. You can adjust the threshold to filter out smaller volume spikes.

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).

IMPORTANT: This script requires the Sound Pack.  You can download it here (free).