EBL - Enigma BOS Logic Select Higher Time FrameThe "EBL – Enigma BOS Logic" is a unique multi-timeframe trading indicator designed for traders who rely on structured price action and key level retests to find high-probability trade opportunities. This indicator automates the identification of significant price levels on a higher timeframe, plots them across all lower timeframes, and provides actionable signals (buy/sell) when price retests those levels. It is ideal for traders who focus on lower timeframes for precise entries while using higher timeframe structure for trend confirmation.
How the Indicator Works
Key Level Detection:
The indicator allows the user to select a key level timeframe (e.g., 1H, 4H, Daily, Weekly). It then identifies Break of Structure (BOS) levels on the selected timeframe.
When a bullish-to-bearish or bearish-to-bullish reversal is detected on the selected timeframe, the corresponding high or low of the reversal candle is stored as a key level.
These key levels are plotted as horizontal lines on all lower timeframes, helping the trader visualize critical support and resistance zones across multiple timeframes.
Retest Confirmation:
Once a key level is established, the indicator continuously monitors the price action on lower timeframes.
If the price touches or crosses a key level, it is considered a retest, and an alert is generated.
The indicator plots a retest marker (customizable as a circle or diamond) at the exact price level where the retest occurred, providing a clear visual cue for the trader.
Trading Signals:
When a retest is detected, a table is displayed on the chart with the following information:
The trading pair.
The signal direction (Buy/Sell).
The price at which the retest occurred.
This table gives traders instant insight into actionable opportunities, making it easier to focus on live market conditions without missing critical retests.
Key Features
Multi-Timeframe Analysis: The indicator focuses on a higher timeframe selected by the user, ensuring that only the most relevant key levels are plotted for lower timeframe trading.
Dynamic Retest Signals: It dynamically identifies when price retests a key level and provides both visual markers and real-time alerts.
Customizable Retest Markers: Users can customize the retest marker's shape (circle/diamond) and color to suit their preferences.
Signal Table: A built-in table displays clear buy or sell signals when retests occur, ensuring that traders have all the necessary information at a glance.
Alerts: The indicator supports real-time alerts for retests, helping traders stay informed even when they are not actively monitoring the chart.
How to Use the Indicator
Select a Key Level Timeframe:
In the input settings, choose a higher timeframe (e.g., 4H or Daily) to define key levels.
The indicator will calculate Break of Structure (BOS) levels on the selected timeframe and plot them as horizontal lines across all lower timeframes.
Monitor Lower Timeframes for Retests:
Switch to a lower timeframe (e.g., 15m, 5m) to wait for price to approach the key levels plotted by the indicator.
When a retest occurs, observe the signal table and retest marker for actionable trade signals.
Act on Buy/Sell Signals:
Use the information provided by the signal table to make trading decisions.
For a buy signal, wait for bullish confirmation (e.g., price holding above the retested level).
For a sell signal, wait for bearish confirmation (e.g., price holding below the retested level).
Trading Concepts and Underlying Logic
The indicator is based on the Break of Structure (BOS) concept, a core principle in price action trading. BOS levels represent points where the market shifts its trend direction, making them critical zones for potential reversals or continuations.
By focusing on higher timeframe BOS levels, the indicator helps traders align their lower timeframe entries with the overall market trend.
The concept of retests is used to confirm the validity of a key level. A retest occurs when the price returns to a previously identified BOS level, offering a high-probability entry point.
Use Cases
Scalping: Traders who prefer lower timeframe scalping can use the indicator to align their trades with higher timeframe key levels, increasing the likelihood of successful trades.
Swing Trading: Swing traders can use the indicator to identify key reversal zones on higher timeframes and plan their trades accordingly.
Intraday Trading: Intraday traders can benefit from the real-time alerts and signals generated by the indicator, ensuring they never miss critical retests during active trading hours.
Conclusion
The "EBL – Enigma BOS Logic" is a powerful tool for traders who want to enhance their price action trading by focusing on key levels and retests across multiple timeframes. By automating the identification of BOS levels and providing clear retest signals, it helps traders make more informed and confident trading decisions. Whether you are a scalper, intraday trader, or swing trader, this indicator offers valuable insights to improve your trading performance.
Candlestick analysis
EBL - Enigma BOS LogicThe EBL - Enigma BOS Logic indicator is designed to detect key trend reversal points with precision by leveraging a unique concept based on two-candle price action analysis. Inspired by the balance of pairs in creation, this indicator identifies trend changes by focusing on significant bullish and bearish candle pairs, storing key levels, and waiting for confirmation to provide actionable trade signals. It goes beyond conventional trend-following indicators by offering real-time alerts and clear visual cues for traders.
How It Works
Bullish Setup:
The indicator identifies a bullish candle followed by a bearish candle. It then stores the high of the bullish candle as a potential reversal level.
A bullish confirmation occurs when a future bullish candle closes above the stored high. When this happens:
A green arrow is plotted below the confirming candle.
A horizontal green line is drawn at the stored high level, extending forward by a user-defined number of bars.
An alert is triggered to notify the trader of a confirmed bullish trend.
Bearish Setup:
The indicator identifies a bearish candle followed by a bullish candle. It stores the low of the bearish candle as a potential reversal level.
A bearish confirmation occurs when a future bearish candle closes below the stored low. When this happens:
A red arrow is plotted above the confirming candle.
A horizontal red line is drawn at the stored low level, extending forward by a user-defined number of bars.
An alert is triggered to notify the trader of a confirmed bearish trend.
Touch or Cross Alerts:
In addition to initial trend confirmation, the indicator tracks price movements relative to the drawn horizontal lines.
If the price returns to touch or cross a previously drawn horizontal line, an alert is triggered, indicating a potential re-entry or retracement opportunity.
Customization Options
To make the indicator versatile and adaptable for different trading styles, several customization options are provided:
Line Colors: Traders can customize the colors of the bullish and bearish lines.
Show/Hide Arrows and Lines: Users can choose whether to display the arrows and horizontal lines on the chart.
Line Length: The length of the horizontal lines (number of bars they extend into the future) is user-defined, offering flexibility based on trading timeframes and preferences.
Use Cases
Trend Reversal Detection: EBL is ideal for identifying key trend reversals, allowing traders to enter trades with a high probability of success.
Breakout Confirmation: The indicator provides visual and alert-based confirmation of breakouts beyond critical support or resistance levels.
Re-entry Opportunities: With alerts for price touching or crossing horizontal lines, traders can spot potential re-entry points during retracements.
Conceptual Foundation
The methodology behind this indicator is rooted in the principle that markets often move in pairs of bullish and bearish forces. By tracking the interaction between consecutive bullish and bearish candles and waiting for clear confirmations, this indicator ensures that only high-probability trend changes are signaled. This reduces noise and enhances trading accuracy, making it suitable for scalping, day trading, and swing trading across various timeframes.
How to Use
Apply the indicator to any chart and timeframe of your choice.
Set your preferred customization options, including line colors, arrow display, and line length.
Watch for arrows and listen for alerts to identify confirmed trend changes.
Pay attention to touch or cross alerts on horizontal lines, as these can signal potential re-entry or secondary trade opportunities.
Combine with other analysis: While EBL is powerful on its own, combining it with support/resistance analysis, moving averages, or volume indicators can further enhance its effectiveness.
This indicator is a powerful tool for traders seeking precision in identifying trend changes and actionable trade signals. Its unique logic, real-time alerts, and clear visual cues make it a valuable addition to any trader’s toolkit.
Buy/Sell Signals for CM_Williams_Vix_FixThis script in Pine Script is designed to create an indicator that generates buy and sell signals based on the Williams VIX Fix (WVF) indicator. Here’s a brief explanation of how this script works:
Main Components:
Williams VIX Fix (WVF) – This volatility indicator is calculated using the formula:
WVF
=
(
highest(close, pd)
−
low
highest(close, pd)
)
×
100
WVF=(
highest(close, pd)
highest(close, pd)−low
)×100
where highest(close, pd) represents the highest closing price over the period pd, and low represents the lowest price over the same period.
Bollinger Bands are used to determine levels of overbought and oversold conditions. They are constructed around the moving average (SMA) of the WVF value using standard deviation (SD).
Ranges based on percentiles help identify extreme levels of WVF values to spot entry and exit points.
Buy and sell signals are generated when the WVF crosses the Bollinger Bands lines or reaches the ranges based on percentiles.
Adjustable Parameters:
LookBack Period Standard Deviation High (pd): The lookback period for calculating the highest closing price.
Bolinger Band Length (bbl): The length of the period for constructing the Bollinger Bands.
Bollinger Band Standard Devaition Up (mult): The multiplier for the standard deviation used for the upper Bollinger Band.
Look Back Period Percentile High (lb): The lookback period for calculating maximum and minimum WVF values.
Highest Percentile (ph): The percentile threshold for determining the high level.
Lowest Percentile (pl): The percentile threshold for determining the low level.
Show High Range (hp): Option to display the range based on percentiles.
Show Standard Deviation Line (sd): Option to display the standard deviation line.
Signals:
Buy Signal: Generated when the WVF crosses above the lower Bollinger Band or falls below the lower boundary of the percentile-based range.
Sell Signal: Generated when the WVF crosses below the upper Bollinger Band or rises above the upper boundary of the percentile-based range.
These signals are displayed as triangles below or above the candles respectively.
Application:
The script can be used by traders to analyze market conditions and make buying or selling decisions based on volatility and price behavior.
AI indicatorThis script is a trading indicator designed for future trading signals on the TradingView platform. It uses a combination of the Relative Strength Index (RSI) and a Simple Moving Average (SMA) to generate buy and sell signals. Here's a breakdown of its components and logic:
1. Inputs
The script includes configurable inputs to make it adaptable for different market conditions:
RSI Length: Determines the number of periods for calculating RSI. Default is 14.
RSI Overbought Level: Signals when RSI is above this level (default 70), indicating potential overbought conditions.
RSI Oversold Level: Signals when RSI is below this level (default 30), indicating potential oversold conditions.
Moving Average Length: Defines the SMA length used to confirm price trends (default 50).
2. Indicators Used
RSI (Relative Strength Index):
Measures the speed and change of price movements.
A value above 70 typically indicates overbought conditions.
A value below 30 typically indicates oversold conditions.
SMA (Simple Moving Average):
Used to smooth price data and identify trends.
Price above the SMA suggests an uptrend, while price below suggests a downtrend.
3. Buy and Sell Signal Logic
Buy Condition:
The RSI value is below the oversold level (e.g., 30), indicating the market might be undervalued.
The current price is above the SMA, confirming an uptrend.
Sell Condition:
The RSI value is above the overbought level (e.g., 70), indicating the market might be overvalued.
The current price is below the SMA, confirming a downtrend.
These conditions ensure that trades align with market trends, reducing false signals.
4. Visual Features
Buy Signals: Displayed as green labels (plotshape) below the price bars when the buy condition is met.
Sell Signals: Displayed as red labels (plotshape) above the price bars when the sell condition is met.
Moving Average Line: A blue line (plot) added to the chart to visualize the SMA trend.
5. How It Works
When the buy condition is true (RSI < 30 and price > SMA), a green label appears below the corresponding price bar.
When the sell condition is true (RSI > 70 and price < SMA), a red label appears above the corresponding price bar.
The blue SMA line helps to visualize the overall trend and acts as confirmation for signals.
6. Advantages
Combines Momentum and Trend Analysis:
RSI identifies overbought/oversold conditions.
SMA confirms whether the market is trending up or down.
Simple Yet Effective:
Reduces noise by using well-established indicators.
Easy to interpret for beginners and experienced traders alike.
Customizable:
Parameters like RSI length, oversold/overbought levels, and SMA length can be adjusted to fit different assets or timeframes.
7. Limitations
Lagging Indicator: SMA is a lagging indicator, so it may not capture rapid market reversals quickly.
Not Foolproof: No trading indicator can guarantee 100% accuracy. False signals can occur in choppy or sideways markets.
Needs Volume Confirmation: The script does not consider trading volume, which could enhance signal reliability.
8. How to Use It
Copy the script into TradingView's Pine Editor.
Save and add it to your chart.
Adjust the RSI and SMA parameters to suit your preferred asset and timeframe.
Look for buy signals (green labels) in uptrends and sell signals (red labels) in downtrends.
Outside Bar Strategy % (Alessio)Outside Bar Strategy %
This strategy is based on identifying Outside Bars, which occur when the current bar's high is higher than the previous bar's high and its low is lower than the previous bar's low. The strategy enters trades in the direction of the Outside Bar, offering a powerful way to capture price moves following a strong price expansion.
Key Features:
Long and Short Entries: The strategy enters a Long trade when the Outside Bar closes bullish (current close > open), and a Short trade when the Outside Bar closes bearish (current close < open).
Customizable Entry Levels: The entry point is calculated based on a customizable percentage of the Outside Bar's range, allowing flexibility for traders to fine-tune their entries at 50% or 70% of the bar's range.
Stop Loss (SL) and Take Profit (TP):
Stop Loss (SL) is automatically placed at the Outside Bar's low for Long trades and at its high for Short trades.
Take Profit (TP) is calculated as a percentage of the Outside Bar's range, with customizable settings for take-profit levels.
Visual Indicators:
Entry, Stop Loss, and Take Profit levels are plotted as lines on the chart, with customizable colors and widths for easy identification.
Labels are placed on the chart to indicate whether the trade is Long or Short, positioned above or below the Outside Bar's candlestick.
Alerts: Users can enable alerts to receive notifications when a trade is triggered, including details such as entry points and stop loss levels.
Strategy Parameters:
Entry Percentage: Set the entry level as a percentage of the Outside Bar's range (e.g., 50%, 70%).
Take Profit Percentage: Customize the Take Profit level as a percentage of the Outside Bar's range.
Customizable Colors and Line Widths: Adjust the colors and thickness of the entry, stop loss, and take profit lines to fit your preferences.
Alerts: Enable alerts to be notified when a trade is executed or when the entry level is reached.
This strategy is ideal for traders who want to capitalize on significant price moves after a breakout, with clear risk management through Stop Loss and Take Profit levels. The customizable features make it suitable for various market conditions and trading styles.
Outside Bar Scanner (Alessio)Outside Bar Scanner
Description:
The Outside Bar Scanner is a powerful indicator designed to automatically detect outside bars (or outside candles) on any timeframe. This tool is perfect for traders who want to quickly spot reversal or trend continuation opportunities based on one of the most significant patterns in technical analysis.
Key Features:
Automatic Detection of Outside Bars:
Identifies and marks bullish (long) and bearish (short) outside bars directly on the chart.
Each outside bar is highlighted with a label and an icon for clear visibility.
Previous Candle High and Low Lines:
Draws two horizontal lines indicating the high and low of the candle preceding the outside bar.
These lines help you quickly identify key support and resistance levels.
Built-In Alerts:
Receive real-time notifications whenever a new outside bar is detected, so you’ll never miss a trading opportunity.
How to Use:
Add the indicator to your chart and let it automatically detect outside bars, marking key high and low levels.
Use the alerts to get notified whenever a new outside bar forms.
Combine this indicator with other strategies or technical tools to enhance your analysis.
Perfect For:
Traders operating in any market (forex, stocks, cryptocurrencies, indices).
Short-term, medium-term, or long-term traders, as it works seamlessly across all timeframes.
Anyone looking to simplify their technical analysis and respond quickly to market signals.
Note: This indicator is a support tool and does not provide direct trading signals. It is recommended to combine it with other analyses for well-informed decision-making.
Wick Strategy AnalyzerOverview
This indicator analyzes candle wick patterns and evaluates their outcomes over a user-definable range (default is 1 year). Labels are rendered on the chart to mark events that meet the specified wick condition.
Features
Customizable Bar Range - users can specify the range of bars to include in the analysis. Default is 365 bars back from the most recent bar (bar 0)
Visual Indicators - labels are rendered to mark conditions & outcomes.
Wick Condition Met - an Orange label below the wick candle displaying the wick’s percentage size.
Outcome Labels - rendered above the candle after wick condition met candles
P (Green): Pass
F (Red): Fail
N (Navy): Neutral
I (Blue): Indicates the current candle has not yet closed, so the outcome is undetermined.
Input Parameters
Wick Threshold - minimum wick size required to qualify as a wick condition.
Success Margin - Defines the margin for classifying outcomes as Pass, Fail, or Neutral. E.g., a success margin of 0.01 requires the next candle's close to exceed the wick candle's close by 1% in order to be a Pass.
Bar Offset Start - starting offset from the last bar for analysis. A value of -1 will include all bars.
Bar Offset End - ending offset from the last bar for analysis. Bars outside this range are excluded.
Example Scenario
Goal: Analyze how candles with a wick size of at least 3.5% perform within a success margin of 1% over the past 540 days.
Setup:
Set Wick Threshold to 0.035
Set Success Margin to 0.01
Set Bar Range Start to 0
Set Bar Range End to 540.
Expected Output
Candles with a wick of at least 3.5% are labeled.
Outcome labels (P, F, or N) indicate performance.
Midnight Open RangeMidnight Open Range with Breakouts & Targets
This indicator helps traders identify and analyze the Midnight Open Range (12:00 AM to 12:30 AM ET) for potential trading opportunities. Key features include:
1. Automatic detection and plotting of the Midnight Open Range
2. Display of multiple historical ranges (customizable)
3. Breakout signals for range violations
4. Multiple target levels based on the range size
5. Customizable colors and styles for easy visual analysis
Perfect for traders looking to capitalize on overnight price action and early morning trends. Ideal for forex, futures, and 24-hour markets.
Note: For best results, use on lower timeframes (5-minute or less) with 24-hour chart data.
Enhanced VIP-like IndicatorSettings Breakdown Tutorial: Optimizing a Trading Strategy
This guide explains the key trading strategy settings and how to customize them based on your trading style and goals. Each parameter is essential for tailoring the strategy to market conditions and your risk appetite.
1. Short Moving Average Length (Default: 9)
• Purpose: Tracks short-term trends using a small number of candles.
• Settings Tips:
• Smaller Values (e.g., 9): Quickly react to price changes, useful for fast-moving markets.
• Larger Values (e.g., 12-15): Generate smoother signals for less volatile trades.
2. Long Moving Average Length (Default: 21)
• Purpose: Identifies long-term trends.
• Settings Tips:
• Higher Values (e.g., 50): Spot broader trends at the expense of slower signals.
• Trend Analysis: The interaction of short and long MAs helps determine bullish or bearish trends (e.g., bullish when short MA crosses above long MA).
3. Higher Timeframe MA Length (Default: 200)
• Purpose: Filters long-term trends on a higher timeframe (e.g., daily).
• Settings Tips:
• 200 Periods: Standard for defining bullish (price above) or bearish (price below) markets.
• Adjustable: Use 100 for faster responses or stick with 200 for reliability.
4. Higher Timeframe (Default: 1 Day)
• Purpose: Defines the timeframe for the higher moving average.
• Settings Tips:
• Shorter Timeframes (e.g., 4 Hours): More frequent trading signals.
• Daily Timeframe: Best for swing trading and identifying macro trends.
5. RSI Length (Default: 14)
• Purpose: Measures momentum over a specific number of candles.
• Settings Tips:
• Lower Values (e.g., 7): More sensitive to price changes, ideal for quick trades.
• Higher Values (e.g., 20): Smooth signals for more stable markets.
6. RSI Overbought (70) and Oversold (30) Levels
• Purpose: Marks thresholds for overbought and oversold conditions.
• Settings Tips:
• Stricter Levels (e.g., 80/20): Fewer, higher-quality signals.
• Looser Levels (e.g., 65/35): More frequent signals, suitable for active trading.
7. Pivot Left Bars (5) and Pivot Right Bars (5)
• Purpose: Confirms pivot points (support/resistance) based on surrounding candles.
• Settings Tips:
• Higher Values (e.g., 10): Stronger but less frequent pivot points.
• Lower Values: More responsive, for traders seeking quick pivots.
8. Take Profit Percentage (Default: 2%)
• Purpose: Defines the profit level to exit trades.
• Settings Tips:
• Higher Values (e.g., 5%): For swing traders holding positions longer.
• Lower Values (e.g., 1%): For scalpers focusing on quick trades.
9. Minimum Volume (Default: 1,000,000)
• Purpose: Ensures sufficient liquidity for trading.
• Settings Tips:
• Lower Values: For lower-volume markets.
• Higher Values: Reduces risk in high-liquidity assets.
10. Stop Loss Percentage (Default: 1%)
• Purpose: Sets the maximum acceptable loss per trade.
• Settings Tips:
• Lower Values (e.g., 0.5%): Reduces risk, suited for conservative trading.
• Higher Values (e.g., 2%): Allows more price fluctuation, ideal for volatile markets.
11. Entry Conditions
• Options:
• MA Crossover & RSI: Combines trend-following and momentum for well-rounded signals.
• Pivot Breakout: Focuses on support/resistance breakouts for high-impact trades.
• Settings Tips:
• Trend-Following Traders: Use MA Crossover & RSI.
12. Exit Conditions
• Options:
• Opposite Signal: Exits when the trade’s opposite condition occurs (e.g., bullish to bearish).
• Fixed Take Profit/Stop Loss: Exits based on predefined profit/loss thresholds.
• Settings Tips:
• Opposite Signal: Ideal for trend-following strategies.
Summary
Customizing these settings aligns the strategy with your trading goals. Test configurations in a demo environment before live trading to refine the approach and optimize results. Always balance profit potential with risk management.
• Fixed Levels: Better for strict risk management.
• Breakout Traders: Opt for Pivot Breakout.
Green/Red Candle Probability (EMA 7, SMA 20, SMA 200)### Strategy Explanation for Candle Probability Indicator
This script is designed to calculate the **probability of bullish (green) and bearish (red) candles** over a given analysis period. It leverages three key moving averages to identify market trends and display these probabilities directly on the chart, making it easier for traders to make informed decisions.
#### **How the Script Works:**
1. **Trend Detection Using Moving Averages:**
- The script calculates three moving averages:
- **EMA (Exponential Moving Average) over 7 periods**
- **SMA (Simple Moving Average) over 20 periods**
- **SMA over 200 periods**
The trend is classified as:
- **Bullish:** When EMA 7 > SMA 20 > SMA 200
- **Bearish:** When EMA 7 < SMA 20 < SMA 200
2. **Candle Analysis:**
The script analyzes the last "n" candles (based on the user-defined lookback period) to count the number of bullish and bearish candles:
- **Bullish (green) candle:** The closing price is higher than the opening price.
- **Bearish (red) candle:** The closing price is lower than the opening price.
3. **Probability Calculation:**
The probabilities are calculated as a percentage of bullish and bearish candles in the lookback period:
- **Green Probability (%) = (Number of Green Candles / Lookback Period) × 100**
- **Red Probability (%) = (Number of Red Candles / Lookback Period) × 100**
4. **Displaying Results in a Table:**
The results are displayed in a table on the chart, including:
- **Green Probability (%)**
- **Red Probability (%)**
- **Current Trend (Bullish, Bearish, or Neutral)**
#### **Strategy Overview:**
This indicator provides traders with a quick overview of the candle probabilities and the current market trend based on moving averages. It helps traders:
- Gauge the likelihood of bullish or bearish candles appearing in the near future.
- Identify the prevailing trend (bullish, bearish, or neutral).
- Adjust their trading strategies based on statistical probabilities rather than assumptions.
### **Important Notes:**
- The lookback period can be customized between **10 and 200 periods**.
- The indicator does not provide buy/sell signals but gives insights into market behavior.
By understanding the candle probabilities and the trend, traders can better assess market conditions and improve their decision-making process.
ICT Digital open Daily DividersDescription for "ICT Digital Open Daily Dividers" TradingView Indicator
Overview
The "ICT Digital Open Daily Dividers" is a versatile and comprehensive TradingView Pine Script indicator designed for traders who utilize Institutional Order Flow methodologies, particularly in ICT (Inner Circle Trader) trading. This indicator provides a structured visual framework to assist traders in identifying key daily market sessions, critical opening prices, and distinguishing different trading days, especially focusing on the Sunday open, which is a crucial element in the ICT trading strategy.
Core Functionalities
Daily Vertical Lines: The script plots vertical lines at the start of each trading day, which helps to demarcate daily trading sessions. These lines are customizable, allowing traders to choose their color, style (solid, dashed, or dotted), and width. This feature helps in visually segmenting each trading day, making it easier to analyze daily price action patterns.
Sunday Open Differentiation: Unlike many other daily divider indicators, this script uniquely provides the option to highlight the Sunday open at 6 PM EST with distinct lines. This feature is especially valuable for ICT traders who consider the Sunday open as a critical reference point for weekly analysis. The color, style, and width of the Sunday open lines can be set separately, providing a clear visual distinction from regular weekday separators.
12 AM Open Toggle: For markets that are influenced by midnight opens, the indicator includes an option to shift the daily open line to 12 AM instead of the default 6 PM. This flexibility allows traders to adapt the indicator to different market dynamics or trading strategies.
Timezone Customization: The indicator allows traders to set the timezone for the open lines, ensuring that the vertical lines align accurately with the trader’s specific market hours, whether they follow New York time or any other timezone.
Session Time Filters: The script can hide or show specific trading session markers, such as the New York session open and close, which are pivotal for ICT traders. These markers help in focusing on the most active and liquid trading times.
Customizable Style Settings: The script includes comprehensive styling options for the plotted lines and session markers, allowing traders to personalize their charts to suit their visual preferences and improve clarity.
Day of the Week Labels: The indicator can plot labels for each day of the week, providing a quick reference to the day’s price action. This feature is particularly useful in reviewing weekly trading patterns and performance.
Use in ICT Trading
In ICT trading, the concept of the "open" is fundamental. The "ICT Digital Open Daily Dividers" indicator serves multiple purposes:
Market Structure Identification: By clearly marking daily opens, traders can easily identify market structure changes such as breakouts, retracements, or consolidations around these key levels.
Reference Points: The Sunday open is often a key level in ICT analysis, serving as a benchmark for assessing market direction for the upcoming week. This indicator’s ability to plot Sunday opens separately makes it uniquely suited for ICT strategies.
Time-based Analysis: ICT methodology often involves analyzing the market at specific times of the day. This indicator supports such analysis by marking significant session opens and closes.
Uniqueness and Advantages
The "ICT Digital Open Daily Dividers" stands out from other similar indicators due to its specialized features:
Sunday Open Highlighting: Few indicators offer the capability to specifically mark the Sunday open with distinct styling options.
Flexibility in Time Adjustments: With options to adjust the open time to either 6 PM or 12 AM, this indicator caters to a broader range of trading strategies and market conditions.
Enhanced Visualization: The wide range of customization options ensures that traders can tailor the indicator to their specific needs, enhancing the usability and visual clarity of their charts.
Compliance with TradingView's Pine Script Community Guidelines
The description adheres to TradingView's guidelines by being comprehensive, clear, and informative. It highlights the utility of the script, its unique features, and its application in trading strategies without making exaggerated claims about performance or profitability. The detailed customization options and unique functionalities are emphasized to differentiate this script from other standard daily divider indicators.
CandelaCharts - Swing Failure Pattern (SFP)# SWING FAILURE PATTERN
📝 Overview
The Swing Failure Pattern (SFP) indicator is designed to identify and highlight Swing Failure Patterns on a user’s chart. This pattern typically emerges when significant market participants generate liquidity by driving price action to key levels. An SFP occurs when the price temporarily breaks above a resistance level or below a support level, only to quickly reverse and return within the previous range. These movements are often associated with stop-loss hunting or liquidity grabs, providing traders with potential opportunities to anticipate reversals or key market turning points.
A Bullish SFP occurs when the price dips below a key support level, triggering stop-loss orders, but then swiftly reverses upward, signaling a potential upward trend or reversal.
A Bearish SFP happens when the price spikes above a key resistance level, triggering stop-losses of short positions, but then quickly reverses downward, indicating a potential bearish trend or reversal.
The indicator is a powerful tool for traders, helping to identify liquidity grabs and potential reversal points in real-time. Marking bullish and bearish Swing Failure Patterns on the chart, it provides clear visual cues for spotting market traps set by major players, enabling more informed trading decisions and improved risk management.
📦 Features
Bullish/Bearish SFPs
Styling
⚙️ Settings
Length: Determines the detection length of each SFP
Bullish SFP: Displays the bullish SFPs
Bearish SFP: Displays the bearish SFPs
Label: Controls the size of the label
⚡️ Showcase
Bullish
Bearish
Both
📒 Usage
The best approach is to combine a few complementary indicators to gain a clearer market perspective. This doesn’t mean relying on the Golden Cross, RSI divergences, SFPs, and funding rates simultaneously, but rather focusing on one or two that align well in a given scenario.
The example above demonstrates the confluence of a Bearish Swing Failure Pattern (SFP) with an RSI divergence. This combination strengthens the signal, as the Bearish SFP indicates a potential reversal after a liquidity grab, while the RSI divergence confirms weakening momentum at the key level. Together, these indicators provide a more robust setup for identifying potential market reversals with greater confidence.
🚨 Alerts
This script provides alert options for all signals.
Bearish Signal
A bearish signal is triggered when a Bearish SFP is formed.
Bullish Signal
A bullish signal is triggered when a Bullish SFP is formed.
⚠️ Disclaimer
Trading involves significant risk, and many participants may incur losses. The content on this site is not intended as financial advice and should not be interpreted as such. Decisions to buy, sell, hold, or trade securities, commodities, or other financial instruments carry inherent risks and are best made with guidance from qualified financial professionals. Past performance is not indicative of future results.
SuperTrend Heikin AshiSupertrend Heikin Ashi is an indicator based on the standard calculation of the Supertrend with the difference of using the Open and Close value of the Heikin Ashi candles instead of the normal Candle Sticks.
In this way the main characteristic of the HA candles is exploited, thus filtering movements that could generate false signals.
I recommend using SPY, SPX, QQQ to be aware of the market situation, not operating (or paying great attention) long on stocks when the indicator is red and the price is below the drawn line.
Volume-Based RSI Color Indicator with MAsVolume-Based RSI Color Indicator with MAs
Overview
This script combines the Relative Strength Index (RSI) with volume analysis to provide an enhanced perspective on market conditions. By dynamically coloring the RSI line based on overbought/oversold conditions and volume thresholds, this indicator helps traders quickly identify high-probability reversal zones. Additionally, it incorporates short-term and long-term moving averages (MAs) of the RSI for trend analysis, making it a versatile tool for scalping and swing trading strategies.
Key Features
Dynamic RSI Color Coding:
The RSI line changes color based on two conditions:
Overbought/High Volume: RSI is above the overbought threshold (default: 70) and volume exceeds the average volume by a user-defined multiplier (default: 2.0). The line turns red, indicating potential reversal zones.
Oversold/High Volume: RSI is below the oversold threshold (default: 30) and volume exceeds the average volume by the multiplier. The line turns green, suggesting potential buying opportunities.
Neutral Conditions: Default blue color for all other scenarios.
Volume Integration:
Unlike standard RSI indicators, this script incorporates volume data to refine signals, helping traders avoid false signals in low-volume environments.
RSI Moving Averages:
Two moving averages of the RSI (short-term and long-term) provide trend context:
200-period MA: Highlights the long-term trend in RSI values.
20-period MA: Shows short-term fluctuations for quick decision-making.
Both MAs can be calculated using Simple or Exponential methods, giving users flexibility.
Visual Aids:
Horizontal lines at the overbought (70) and oversold (30) levels help define the boundaries of expected price action extremes.
How It Works
The script calculates the RSI over a user-defined length (default: 14).
Volume data is compared to its moving average to determine if it exceeds the user-defined high-volume threshold.
When RSI and volume conditions align, the RSI line is dynamically colored to indicate potential overbought/oversold zones.
The RSI moving averages provide additional context to confirm trends or reversals.
How to Use
Identify Reversal Zones:
Look for green RSI signals in oversold conditions to identify potential buying opportunities.
Look for red RSI signals in overbought conditions to identify potential selling opportunities.
Use Moving Averages for Confirmation:
When the RSI is above its 200-period MA, the long-term trend is bullish; consider only long trades.
When the RSI is below its 200-period MA, the trend is bearish; consider only short trades.
Combine with Other Tools:
This indicator works best when used alongside price action analysis, candlestick patterns, or support/resistance levels.
Originality
This script is unique in combining volume analysis with RSI and RSI-specific moving averages. While many indicators focus on RSI or volume separately, this script marries these two key metrics to filter out weak signals and improve trade decision accuracy.
Chart Recommendations
Clean Chart: Use this indicator on a clean chart without additional overlays for maximum clarity.
Timeframes: Works well on intraday charts (e.g., 5m, 15m) for scalping and on higher timeframes (e.g., 1H, 4H, Daily) for swing trading.
Disclaimer
This indicator is a tool to aid trading decisions and should not be used in isolation. Always consider other factors such as market conditions, news events, and risk management.
CANDLE RANGE THEORY (H1 Only)Hello traders.
This indicator identifies CRT candles
-Each candle is a range.
-Each candle has its own po3.
-Focus on specific times of the day. By recognizing the importance of time and price, we can capture high-quality trades. Together with HTF PD array, Look for 4-hour candles forming at specific times of the day. (1am - 5am - 9am EST)
-After the 1st candle, wait for the 2nd candle to clear the high/low of the 1st candle and then close inside the 1st candle range at a specific time (1-5-9) and look for entries in the LTF
Why choose 1 5 9 hours EST?
### **1. 1:00 AM (EST)**
- **Trading Session:** This is the time between the Tokyo (Asian) session and the Sydney (Australian) session. The Asian market is very active.
- **Characteristics:**
- Liquidity: Moderate, as only the Asian market is active.
- Volatility: Pairs involving JPY (Japanese Yen), AUD (Australian Dollar), and NZD (New Zealand Dollar) tend to have higher volatility.
- Trading Opportunities: Suitable for traders who like to trade trends or news in the Asian region.
- **Note:** Volatility may be lower than the London or New York session.
### **2. 5:00 AM (EST)**
- **Trading Session:** This is the time near the end of the Tokyo session and the London (European) session is about to open.
- **Characteristics:**
- Liquidity: Starts to increase due to the preparation of the European market.
- Volatility: This is the time between two trading sessions, there can be strong fluctuations, especially in major currency pairs such as EUR/USD, GBP/USD.
- Trading opportunities: Suitable for breakout trading strategies when liquidity increases.
- **Note:** The overlap between Tokyo and London can cause sudden fluctuations.
### **3. 9:00 AM (EST)**
- **Trading sessions:** This time is within the London session and near the beginning of the New York session.
- **Characteristics:**
- Liquidity: Very high, as this is the period between the two largest sessions – London and New York.
- Volatility: Extremely strong, especially for major currency pairs such as EUR/USD, GBP/USD, USD/JPY.
- Trading opportunities: Suitable for both news trading and trend trading, as this is the time when a lot of economic data is released (usually from the US or the European region).
- **Note:** High volatility can bring big profits, but also comes with high risks.
### **Summary of effects:**
- **1 AM (EST):** Moderate volatility, focusing on Asian currency pairs.
- **5 AM (EST):** Increased liquidity and volatility, suitable for breakout trading.
- **9 AM (EST):** High volatility and high liquidity, the best time for Forex trading.
==> How to trade, when the high/low of CRT is swept, move to LTF to wait for confirmation to enter the order
Only sell at high level and buy at discount price.
Find CE at specific important time. Trading CRT with HTF direction has better win rate.
The more inside bars, the higher the probability.
Place a partial and Move breakeven at 50% range.
Do a backtest and post your chart.
Multi-Timeframe Candles HistogramsAt some community members' requests, I have built on the original code to make it a single indicator with the option for users to check off which timeframes they want to be shown. Choices are 1-hour, daily, weekly, and monthly.
I couldn't figure out how to separate each timeframe into its own histogram, so this is the best I can offer at the moment. If any community member wants to take a crack at it, be my guest.
Colors are customizable.
If you have a paid TW account, you can lay it down twice and put the hour and daily on one and the weekly and monthly on the other.
That said, I hope you enjoy this version of this indicator.
R.I.P. Rob Smith, creator of TheStrat.
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Key Features and Benefits
1. Custom Timeframe Selection:
- Choose from an array of timeframes ranging from minutes to months, giving you complete flexibility in your market analysis.
- Quickly switch between different timeframes (e.g., 1-hour, daily, or weekly) to track continuity across varying levels.
2. Visual Representation of High/Low Markers:
- Enable or disable the display of high and low points to better understand price ranges and reversals.
- These markers allow you to spot key turning points on different timeframes, facilitating better entry or exit decisions.
3. Enhanced Candle Visualization:
- Displays candles with precise price levels aligned to your chosen timeframe, giving a clearer view of price trends.
- Candles are color-coded to reflect price movement, which is customizable by the user.
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How to Use This Indicator
Monitor Multiple Timeframes Simultaneously:
- Place the indicator on your chart and choose the timeframes you want to follow (e.g., hourly, daily, weekly, monthly).
- For each instance, checkmark the desired timeframes in the menu to ensure that you’re tracking the right period.
Achieve Timeframe Continuity:
- By aligning lower timeframes with higher ones, this tool helps you confirm trends, detect reversals, and avoid trades that go against the broader market movement.
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Why This Indicator is Valuable for Traders
This tool simplifies a core principle of TheStrat—full timeframe continuity—by visually representing price action across multiple timeframes in a clear and actionable way. It removes the guesswork and helps traders stay in sync with market momentum, regardless of the timeframe they are analyzing.
This solution offers flexibility, clarity, and speed, enabling traders to quickly grasp critical movements and improve decision-making. Whether you are a scalper focusing on intraday moves or a swing trader watching weekly trends, this tool empowers you to maintain alignment with the overall market structure.
In essence, it brings the power of TheStrat to your fingertips by offering precise and easy-to-read visual aids, allowing you to seamlessly apply Rob Smith’s philosophy to your trading.
Kamal 5 Tick Trading SetupKamal 5 Tick Trading Setup
The "Kamal 5 Tick Trading Setup" is a custom indicator designed by Kamal Preet Singh Trader for TradingView to identify potential Buy and Sell signals on daily forex charts. This indicator helps traders make informed decisions based on the price action of the previous five daily candles.
Indicator Logic:
Buy Signal: A Buy signal is generated when the closing price of the current candle exceeds the highest high of the previous five daily candles.
Sell Signal: A Sell signal is generated when the closing price of the current candle falls below the lowest low of the previous five daily candles.
Features:
Lookback Period: The indicator uses a lookback period of five candles to determine the highest high and lowest low.
Visual Signals: Buy signals are plotted as green "BUY" labels below the candles, while Sell signals are plotted as red "SELL" labels above the candles.
Debugging Plots: The highest high and lowest low of the previous five candles are plotted as blue and orange lines, respectively, to help verify the conditions for Buy and Sell signals.
Non-Repetitive Signals: The indicator ensures that once a Buy signal is given, no further Buy signals are generated until a Sell signal is given, and vice versa.
Usage:
Apply the indicator to your daily forex chart in TradingView.
Observe the plotted Buy and Sell signals to identify potential entry and exit points.
Use the debugging plots to ensure the conditions for the signals are being met correctly.
This indicator provides a straightforward approach to trading based on recent price action, helping traders capitalize on potential breakout and breakdown opportunities.
Noteworthy CandlesticksThis indicator identifies noteworthy candlestick formations by analyzing the proportions of a candlestick’s body, wicks, and shadows in relation to its total range. It highlights specific patterns to assist in analyzing potential market activity.
Key Features
Lower Wick Candles: It identifies candlesticks with long lower wicks, which may indicate price rejection at lower levels.
Upper Wick Candles: It detects candlesticks with long upper wicks, which may indicate price rejection at higher levels.
Doji Candles: It recognizes candlesticks with small bodies relative to their range, often associated with market indecision.
Definitions of Wicks and Shadows
In traditional candlestick charting, the terms wick and shadow are interchangeable, referring to the thin lines extending above and below the candlestick's body. However, this indicator uses distinct definitions:
Wicks represent the distance from the edges of the candlestick body (the open and close prices) to the high or low.
Shadows measure the distance from the closing price to the high or low of the candlestick.
By distinguishing between wicks and shadows, the indicator provides separate insights into price extremes (wicks) and price behavior around the close (shadows).
How It Works
The indicator evaluates each candlestick against user-defined thresholds for wick and shadow length. It compares the overall range of the candlestick to the ATR (Average True Range) to ensure patterns are relevant in the context of recent volatility.
Candlesticks with noteworthy lower wicks are marked with a symbol below the bar.
Candlesticks with noteworthy upper wicks are marked with a symbol above the bar.
Doji candles are marked with symbols both above and below the bar.
Applications
This indicator can assist traders in identifying potential areas of price reversal, rejection, or indecision. It can also provide additional context when used alongside other technical tools like volume analysis, trendlines, or support and resistance levels.
Acknowledgment
This description was written by ChatGPT to facilitate the understanding of the indicator's features and functionality.
ELC Indicator**ELC Indicator – Enigma Liquidity Concept**
The ELC Indicator is a cutting-edge tool designed for traders who want to leverage price action and liquidity concepts for high-precision trading opportunities. Unlike conventional indicators that rely purely on trend-following or oscillatory methods, ELC incorporates a unique combination of market structure, Fibonacci retracement levels, and dynamic EMA filtering to detect key buy and sell zones. This original approach helps traders capture the most relevant market movements and anticipate potential reversals with higher confidence.
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### **What the ELC Indicator Does**
The primary goal of the ELC Indicator is to identify liquidity zones and plot Fibonacci-based levels around detected buy or sell signals. It continuously monitors price action to identify instances where significant liquidity grabs occur, signaled by breakouts beyond recent highs or lows. Once a signal is detected, the indicator plots horizontal lines at key Fibonacci ratios (0%, 25%, 50%, 75%, 100%, 120%, and 180%) to give traders a clear visual framework for potential retracement or extension levels.
Additionally, the indicator includes a dynamic EMA filter, which ensures that buy signals are only triggered when the price is above the EMA and sell signals when the price is below the EMA. This filtering mechanism helps reduce false signals in choppy markets and aligns trades with the broader trend direction.
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### **Key Features**
1. **Buy & Sell Signals**
- Buy signals are generated when a liquidity grab occurs below the previous low, and the closing price is above the candle body midpoint and the EMA.
- Sell signals are triggered when a liquidity grab occurs above the previous high, and the closing price is below the candle body midpoint and the EMA.
- Visual cues are provided via small upward (green) and downward (red) triangles on the chart.
2. **Fibonacci Levels**
- For each buy or sell signal, the indicator plots multiple horizontal lines at key Fibonacci levels. These levels can help traders set realistic profit targets and stop-loss levels.
- The plotted lines can be customized in terms of style (solid, dotted, dashed) and color (buy and sell line colors).
3. **Dynamic EMA Filtering**
- A customizable EMA filter is integrated into the logic to align trades with the prevailing trend.
- The EMA length is adjustable, allowing traders to fine-tune the indicator based on their trading style and market conditions.
4. **Alert System**
- Alerts can be enabled for both buy and sell signals, ensuring traders never miss an opportunity even when away from the screen.
- Alerts are triggered once per bar, ensuring timely notifications without excessive noise.
5. **Customizable Signal Visibility**
- Traders can toggle the visibility of the last 9 buy and sell signals. When this option is disabled, only the most recent signal is displayed, helping to declutter the chart.
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### **How to Use the ELC Indicator**
- **Trend Following**: The ELC Indicator works well in trending markets by filtering signals based on the EMA direction. Traders can use the plotted Fibonacci levels to enter trades, set profit targets, and manage risk.
- **Reversal Trading**: The liquidity grab detection mechanism allows traders to capture potential market reversals. By waiting for price retracements to key Fibonacci levels after a signal, traders can enter trades with a favorable risk-to-reward ratio.
- **Scalping & Day Trading**: With its ability to plot key intraday levels and generate real-time alerts, the ELC Indicator is particularly useful for scalpers and day traders looking to exploit short-term market inefficiencies.
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### **Concepts Underlying the Calculations**
1. **Liquidity Grabs**: The ELC Indicator’s core logic is based on detecting instances where the market moves beyond a recent high or low, triggering a liquidity grab. This often signals a potential reversal or continuation, depending on broader market conditions.
2. **Fibonacci Ratios**: Once a signal is detected, key Fibonacci levels are plotted to provide traders with actionable zones for trade entries, profit targets, or stop-loss placements.
3. **EMA Filtering**: The EMA acts as a dynamic trend filter, ensuring that signals are aligned with the dominant market direction. This reduces the likelihood of entering trades against the prevailing trend.
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### **Why ELC is Unique**
The ELC Indicator stands out by combining multiple powerful trading concepts—liquidity, Fibonacci ratios, and EMA filtering—into a single tool that provides actionable and visually intuitive information. Unlike traditional trend-following indicators that lag behind price action, ELC proactively identifies key market turning points based on liquidity events. Its customizable features, real-time alerts, and comprehensive plotting of Fibonacci levels make it a versatile tool for traders across various styles and timeframes.
Whether you're a scalper looking for intraday opportunities or a swing trader aiming to capture larger moves, the ELC Indicator offers a robust framework for identifying and executing high-probability trades.
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### **How to Get Started**
1. Add the ELC Indicator to your chart.
2. Customize the EMA length, line colors, and style based on your preference.
3. Enable alerts to receive real-time notifications of buy and sell signals.
4. Use the plotted Fibonacci levels to plan your trade entries, profit targets, and stop-loss levels.
5. Combine the signals from ELC with your existing market analysis for optimal results.
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This unique approach makes the ELC Indicator a valuable tool for traders seeking precision, clarity, and consistency in their trading decisions.
Candle VolumeThis indicator gives gives candle volume represented in X.Y format for simplicity.
100% = 1.0
20% = 0.2
Anything 10X is represented by an arrow up or down based on candle price delta open to close.
By default, a 500 candle lookback of volume is used excluding exteem outliers of 50.
You can adjust these in settings.
Renko Chart EmulationRenko charts are a popular tool in technical analysis, known for their ability to filter out market noise and focus purely on price movements. Unlike traditional candlestick or bar charts, Renko charts are not time-based but are constructed using bricks that represent a fixed price movement. This makes them particularly useful for identifying trends and key levels of support and resistance. While Renko charts are commonly found on platforms with specialized charting capabilities, they can also be emulated in Pine Script as a line indicator.
The Renko emulation indicator in Pine Script calculates the movement of price based on a user-defined brick size. Whenever the price moves up or down by an amount equal to or greater than the brick size, a new level is plotted, indicating a shift in price direction. This approach helps traders visualize significant price moves without the distractions of smaller fluctuations. By plotting the Renko levels as a continuous line and coloring it based on direction, this indicator provides a clean and straightforward representation of market trends.
Traders can use this Renko emulation line to identify potential entry and exit points, as well as to confirm ongoing trends. The simplicity of Renko charts makes them a favorite among those who prefer a minimalist approach to technical analysis. However, it is essential to choose an appropriate brick size that aligns with the volatility of the trading instrument. A smaller brick size may result in frequent signals, while a larger one can smooth out the chart, focusing only on the most substantial price movements. This script offers a flexible solution for incorporating Renko-style analysis into any trading strategy.
RY-Parabolic Stop and ReverseParabolic Stop and Reverse with Support Resistance (PSAR-SR)
Identify dynamic support and resistance levels based on price movements.
Reduce false signals often generated by the regular PSAR.
Provide more accurate trading decisions by considering previous reversal points as support and resistance.
How Does PSAR-SR Work?
PSAR Reversal Points:
When the regular PSAR generates a reversal signal, the price at that reversal point is used as support (in an uptrend) or resistance (in a downtrend).
Support and Resistance Lines:
Support: A line drawn from the previous PSAR reversal point in an uptrend.
Resistance: A line drawn from the previous PSAR reversal point in a downtrend.
Price often moves sideways between these support and resistance levels before a breakout occurs.
Breakout Above/Below Support and Resistance:
A Buy signal is generated when the price breaks above resistance with a new candle closing above it.
A Sell signal is generated when the price breaks below support with a new candle closing below it.
Strategy Using PSAR-SR
Wait for the Breakout:
Avoid buying or selling immediately when the PSAR gives a signal.
Confirm that the price breaks past the support or resistance levels and forms a new candle outside those lines.
Use Alongside Other Indicators:
PSAR-SR is not recommended as a standalone tool. Use additional confirmation indicators such as:
Moving Average: To identify long-term trends.
RSI or MACD: To confirm momentum or overbought/oversold conditions.
Advantages of PSAR-SR
Reduces False Signals:
By focusing on previous support and resistance levels, PSAR-SR avoids invalid signals.
Helps Identify Breakouts:
It provides better insight for traders to enter the market during valid breakouts.
Limitations of PSAR-SR
Not Suitable for Sideways Markets:
If the price moves sideways for an extended period, the signals may become less effective.
Requires Additional Confirmation:
Should be used in combination with other indicators to improve accuracy.
Conclusion
PSAR-SR is a helpful tool for identifying dynamic support and resistance levels and generating buy/sell signals based on price breakouts. However, it should always be used with additional indicators for confirmation to avoid false trades.
Disclaimer:
Use this indicator at your own risk, and always perform additional analysis before making any trading decisions.
If you'd like further clarification or examples of how to apply this to a chart, feel free to ask! 😊
P/L CalculatorDescription of the P/L Calculator Indicator
The P/L Calculator is a dynamic TradingView indicator designed to provide traders with real-time insights into profit and loss metrics for their trades. It visualizes key levels such as entry price, profit target, and stop-loss, while also calculating percentage differences and net profit or loss, factoring in fees.
Features:
Customizable Input Parameters:
Entry Price: Define the starting price of the trade.
Profit and Stop-Loss Levels (%): Set percentage thresholds for targets and risk levels.
USDT Amount: Specify the trade size for precise calculations.
Trade Type: Choose between "Long" or "Short" positions.
Visual Representation:
Entry Price, Profit Target, and Stop-Loss levels are plotted as horizontal lines on the chart.
Line styles, colors, and thicknesses are fully customizable for better visibility.
Real-Time Metrics:
Percentage difference between the live price and the entry price is calculated dynamically.
Profit/Loss (P/L) and fees are computed in real time to display net profit or loss.
Alerts:
Alerts are triggered when:
The live price hits the profit target.
The live price crosses the stop-loss level.
The price reaches the specified entry level.
A user-defined percentage difference is reached.
Labels and Annotations:
Displays percentage difference, P/L, and fee information in a clear label near the live price.
Custom Fee Integration:
Allows input of trading fees (%), enabling accurate net profit or loss calculations.
Price Scale Visualization:
Displays the percentage difference on the price scale for enhanced context.
Use Case:
The P/L Calculator is ideal for traders who want to monitor their trades' performance and make informed decisions without manually calculating metrics. Its visual cues and alerts ensure you stay updated on critical levels and price movements.
This indicator supports a wide range of trading styles, including swing trading, scalping, and position trading, making it a versatile tool for anyone in the market.
