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This indicator combines a dynamic Seasonal Random Index (SRI) with a dynamic Karobein Oscillator and a pattern-similarity search algorithm in a separate pane. It normalizes SRI into seasoned and deseasoned series, shading the area green or red to signal trend
Indicator · Pine Script v5 · Own pane
Function Markov Process
Function Markov Process is a Pine Script indicator function that models market state transitions using a three-by-three Markov chain transition matrix.
GitHub stars261on the repository
Pine versionv5runs as is
Lines of code182
Settings2inputs
LicenceNone stated
Last update4 years ago13 Nov 2021
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Function Markov Process evaluates historical data categorized into bullish, bearish, or stagnant regimes (represented by values 1, -1, and 0) to calculate state transition probabilities. The script estimates the likelihood of the market continuing in its current state versus transitioning to a different state over a configurable historical window. It draws calculations in a separate pane below the price chart, with input parameters for moving average smoothing and historical evaluation length.
- 3x3 Markov state transition matrix calculation
- Probability estimation for bull, bear, and stagnant regimes
- Custom historical summation helper function
Details
Published by
ricardosantos79 on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
AI / machine learning
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| ma_length | int | 1 | ma_length |
| nbars | int | 1 | nbars |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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