Critical Levels by Time FrameDescription
This indicator will help you present critical levels from a certain time frame.
Purpose and Usage
Many day traders are using the previous day high, close and low, as critical levels in their trading. in order to easily present those levels on your chart, I created this indicator in which you can define which of those you would like to present on your chart.
You may choose the best time frame for your needs, I suggest using the daily time frame which is also the default time frame, but you can use the weekly time frame to present the critical levels from the previous week, or you can choose any other time frame you would like.
Pre-market and after-market prices will not be taken into consideration.
Restrict to current DAY
There is an option to present the critical levels only today.
if you’re looking at a wide range of bars and don’t wanna present the critical levels among the entire chart, you may use this restriction to show a cleaner chart.
Filtering critical levels
To present only one or two critical levels (and not all three of them) you may use the style settings. uncheck any critical level that you’re not interested in.
I hope you enjoy this indicator and find it useful,
if you do, please like the script , and feel free to comment below.
Good luck with your trading.
Buskila
Market Cap - simpleThis is a simple market cap indicator . it allows you to see the actual market cap of a stock, live, on the chart, right next to the stock price.
The indicator uses the data provided by Tradingview to calculate the market cap based on the simple calculation of outstanding shares times the price, at any given time.
The indicator can be used to compare the actual value of a stock at different times when sometimes you might discover that the market cap when the price is low is actually higher than the market cap when the price was high. That scenario might happen when the amount of outstanding shares has been changed as time goes by.
That conclusion is another nice benefit to having the indicator, on top of just having the Market Cap right in front of your eyes, always up-to-date, changing as the price is changing as well.
transparency= the higher the value, the more transparent the indicator will be. this feature allows you to see the indicator if you want to, but not letting it interrupting your chart.
Hope you enjoy it and good luck!
False BreakoutA false breakout is when the price temporarily moves above or below a key support or resistance level, but then later retreats back to the same side as it started.
The “False Breakout” indicator reveals false breakouts in comparison to the previous candle.
In case we're looking to trade the stock for long this would mean that the price of the stock broke the previous low (support) and then got back above that low.
In case we're looking to trade the stock for short then a false breakout would mean the stock broke the previous high (resistance) and then got back below that high.
How to use the indicator?
First choose the direction you're looking to trade, meaning either long or short.
Then choose how strict you want to be about the Falls brakes.
There are three options:
The first option named “All“ means that it's enough that the stock broke the previous level and then get back to the original side.
The second option is “Supporting Change” meaning not only that the stock broke the previous key level (support or resistance), but also the change at the end of the candle is supporting the main direction - meaning the change is positive for long or negative for short.
The third option is “Engulfing”. This is a well-known candle, but to make it clear, in our case “Engulfing” means that not only the stock broke the previous level but it also ended the day on the other side of the candle - higher than the previous high, in case of long, and lower than the previous low, in case of short.
When you choose the level of strictness you determine how many indications you're going to get on the chart.
If you choose the highest level of strictness, meaning “Engulfing”, you would only see the red flags indicating engulfing candles.
If you choose the lowest level of strictness, meaning “All”, you will get more indications on your chart, including every false breakout.
When the direction you're looking for is long, all indications would appear below the candles.
When the direction you're looking for is short, then all indications would appear above the candles.
The Engulfing candles are represented by Red flags, and the Simple breakouts candles are represented by yellow. All colors may be adjusted to your preference.
Explaining the example above:
In the chart above we can see two consolidations. At the end of each consolidation, we can see a candle with an indication from the indicator that points out that this could be the end of the consolidation and the stock might continue its move.
In “consolidation 1” we can see that there is an orange flag below the candle right before the stock began to move up again.
In “consolidation 2” we can see that there is a red flag below the candle, right before the stock began another move.
Wishing you all the best :)
MegaChangeThe MegaChange indicator is a traditional Change - on steroids!
This indicator visualizes the Change from the current bar to the one before.
Besides showing the standard change (% change from the previous bar's Last to current bar's Last),
the indicator also includes the % change from the previous bar's Last
to current bar's High, and to current bar's Low.
The result is always in percentage.
"green" days and "red" days are separated so you can always see on the scales the change for
the last green day and the change for the last red day (only one of whom is the current change).
The indicator demonstrates "how far" the change has gone each way, and where is it currently.
Here's an example, using the chart above:
When we look at the big red candle we might see it as a very bad sign. (With the blue bubble next to it)
When we examine that candle with this indicator - the MegaChange - we can observe that the downside
is very small in comparison to the Upside that came before that. (Tagged as 1)
On the next candle (Tagged as 2) we can see a small tail representing the stock price going down
and coming most of the way back. returning from -16% to only -4% after moving more than +170% only 2 days earlier!
This might mean that the buyers are coming back and they're chasing the stock again for another run (long).
This is an example of how the indicator might indicate future moves, when we might think the move is already over.
Looking at the chart alone might be frightening, but using the indicator makes a change, as we can see that's the downside
was really small relative to the upside. The small tail from the last day might tell us that the buyers are coming back,
and that the stock might still have a potential Upside.
fill free to ask any questions, or tell me if you find this indicator helpful, and how.
