Price and Volume Breakout Buy Strategy [TradeDots]The "Price and Volume Breakout Buy Strategy" is a trading strategy designed to identify buying opportunities by detecting concurrent price and volume breakouts over a specified range of candlesticks.
This strategy is optimized for assets demonstrating high volatility and significant momentum spikes.
HOW IT WORKS
The strategy first takes the specific number of candlesticks as the examination window for both price and volume.
These values are used as benchmarks to identify breakout conditions.
A trade is initiated when both the closing price and the trading volume surpass the maximum values observed within the predetermined window.
Price must be above a designated moving average, serving as the trend indicator, ensuring that all trades align with the prevailing market trend.
APPLICATION
This strategy is particularly effective for highly volatile assets such as Bitcoin and Ethereum, capitalizing on the cues from sudden price and volume breakouts indicative of significant market movement, often driven by market smart money traders.
However, for broader markets like the S&P 500, this strategy may be less effective due to less pronounced volume and price shifts compared to the cryptocurrency markets.
DEFAULT SETUP
Commission: 0.01%
Initial Capital: $10,000
Equity per Trade: 70%
Backtest result sometimes gives fewer than 100 trades under certain higher timeframes, as most trades tend to have a long holding period. Entry conditions are also more stringent, which, combined with the relatively brief history of cryptocurrencies, results in fewer trades on longer timeframes.
Users are advised to adjust and personalize this trading strategy to better match their individual trading preferences and style.
RISK DISCLAIMER
Trading entails substantial risk, and most day traders incur losses. All content, tools, scripts, articles, and education provided by TradeDots serve purely informational and educational purposes. Past performances are not definitive predictors of future results.
Candlestick analysis
Volume Delta [hapharmonic]Volume Delta: Volume Delta is an indicator that simplifies how you analyze trading volumes and the percentage of buy-sell activities effortlessly.
As a trader or market analyst, understanding underlying volume and trade flows is critical. The Volume Delta indicator provides thorough insight into both the total volume and the percentage of buying versus selling within the current candlestick. This information is pivotal for those looking to gauge market momentum and sentiment more effectively.
Additionally, the Volume Delta indicator can plot the candlestick colors based on the percentage of the dominant buying or selling volume. The area between the open and close prices of the candlestick is considered 100% and fills with colors corresponding to the predominant volume at that percentage.
Volume Delta also integrates the concept of Net volume. This component is crucial as it reveals the real market sentiment by calculating the difference between the volume of trades executed at an uptick and those at a downtick.
🟠 Overview
This indicator now displays in two layouts. Recently, Tradingview introduced the "force_overlay=true" function in Pine Script , allowing plots to be moved to the main chart. Thus, all displays are from the same indicator.
🟠 USAGE
From the data displayed in 'plot.style_columns' , the peak area represents the entire volume, accounting for 100%. Within this area, there are two color levels indicating volume. If one type of volume, whether buying or selling, exceeds the other, the larger volume will be positioned behind and the smaller in front. This arrangement prevents the scenario where a higher buying volume obscures the smaller selling volume. Therefore, the two colors can be switched between the front and the back as needed.
As you can see, the 12 and 26-day Exponential Moving Averages (EMAs) are used, with the Volume Confirmation Length set at 6. Therefore, the crossing of the EMAs proceeds normally, but it is highlighted with three triangular arrows to indicate a high likelihood of a valid crossover. However, if the volume is insufficient, these markers won't be displayed, although the EMA crossover will still occur as usual. This can be useful for using volume to verify the significance of the EMA crossover.
🟠 Setting
If you enable the label, please be aware that the chart size will shrink, causing the candlestick display to become unclear. Therefore, you might need to select "Logarithmic" at the bottom right of your screen, or for mobile applications, press and hold on the price scale and choose "Logarithmic" to adjust the scale appropriately.
Enjoy!
BST system LiteBST system is Entry Criteria based on the logic of price action which price always moves the way ' contraction-expansion-contraction', also known as 'stage1 & stage2' exchange. Stage1 means that price is squeezed back and forth before/after expansion. Stage2 means impulse or expansion to a certain direction. Both "late stage1" and "early stage2" are the best opportunity for entry. Oppositely both "early stage1" and "late stage2" are the best chance for Take profits.
Key Features:
1. Key Bar: that means price in stage2 which is expanding right now, we would better avoid enter market at the moment till price contracting.
2. Blue dashes/dots: The SL point also means price is in stage1 which is back and forth in a narrow range, price is squeezed/contracted before next expansion/mark up. This is the best chance to enter market.
3. Yellow dashes/dos: The recommended entry point, you can also use blue bashes/dots for instead. Because of slippage and spread in different assets, fine tuning parameters is better option. But the default value 1 is suit for most of assets.
How it works ：
What the Key Bar is: For any given candle, if its body crossover prior candle’s high meanwhile its high reaches the ATR of POC (point of control) of prior candle. That means this candle is more powerful and directional than normal bullish candle. vice versa.
The Bullish Key Bar updated strong new high, so we marked that new high with yellow dashes and meanwhile marked the ATR of POC with blue dashes/dots. From the perspective of “Buy for Sell”, sellers always protect high, buyers always protect low. That is why the new high created by bullish key bar turns into the protected high for sellers. The protected high represents the SL point for sellers and entry point for buyers. Vice versa the Bearish Key Bar.
As we know, market structure is fractal, based on the same rules, the Key Bars will be found in LTF, the protected high/low with ATR of POC which created by Key Bars in LTF are marked with blue dots.
This indicator is not only entry/SL tools. You can use the key bar to verify if the current trend is likely to continue running or not.
Of course, tons of acknowledgment behind charts. Indicator offers just additional view of market. Enjoy.
Candlestick Reversal and Trend Signals [AlgoAlpha]🚀 Unleash your charting capabilities with the Candlestick Reversal and Trend Signals indicator by AlgoAlpha, your go-to tool for spotting pivotal market movements! This script enhances your trading experience by identifying key candlestick patterns and trend changes, perfect for traders aiming for precision in their technical analysis.
🛠 Key Features:
- 🔄 Multi-Timeframe Analysis : Leverages a timeframe multiplier to analyze levels on higher timeframes, enhancing the depth and applicability of insights.
- 🧩 Diverse Pattern Detection : Capable of detecting a wide array of patterns including Bull/Bear Engulfings, Dojis, Haramis, Piercing Lines, Dark Cloud Covers, and Morning/Evening Stars, each contributing to a robust trading strategy.
- 🔍 Dynamic Trend Filters : Utilizes three exponential moving averages (EMAs) and volume filters to decisively confirm trend directions and strength, providing a clearer picture of market dynamics.
- ⚙️ Customizable Settings : Features adjustable settings for filter period, signal thresholds, and appearance, allowing for a tailored analysis experience to fit individual trading styles.
- 📉 Swing Levels Identification : Marks significant high and low swing points on the chart, highlighting potential pivot points and trend reversals for strategic trading decisions.
📈 Quick Guide to Using the Candlestick Reversal and Trend Signals Indicator
1. 🛠 Add the Indicator : Add the indicator to your favorites. Adjust the settings to match your analysis needs.
2. 📊 Analysis : Keep an eye out for the specific symbols plotted on your chart that indicate various candlestick patterns. Use these signals to enhance your market analysis.
3. 🔔 Set Alerts : Enable alerts for the patterns you are most interested in to get notified of potential trading opportunities without needing to monitor the charts constantly.
Embark on your enhanced trading journey with this powerful tool! 🚀✨ Happy trading!
🧐 How It Works:
The Candlestick Reversal and Trend Signals indicator operates by integrating several candlestick patterns and trend analysis features to assist in making informed trading decisions. Initially, it gathers user-defined settings like the period for filtering, signal thresholds, and the desired patterns to detect. It analyzes candlestick formations such as Bull/Bear Engulfings, Dojis, Haramis, and more, by comparing the current candlestick's attributes (such as body length and direction) with previous data to identify potential market reversals or confirmations. The indicator enhances its accuracy through additional filters like volume ratios and exponential moving averages (EMAs) that help validate the strength and direction of trends. By marking these patterns and trends visually on the chart, it provides clear signals that aid traders in identifying significant market movements efficiently. The script is then complemented with the 3 EMA indicator for trend detection and swing levels for added confluence.
Consecutive count backtester / quantifytools- Overview
Consecutive counting is a simple method to mechanically define trending states to the upside and downside. Consecutive counts are calculated by taking reference price level (e.g. close 4 candles ago) and count closes above/below it up to a maximum count that resets the consecutive count back to 1. This tool provides the means to backtest each count by measuring % change in price after each count (e.g. % gain 2 candles after a given count).
Users can define reference source that starts the consecutive count (e.g. close 4 candles ago), maximum count where counter resets (e.g. after 9th count) and backtesting period (e.g. price change 2 candles after count).
Filters add extra conditions that must be met on the consecutive count to qualify as valid, which are also reflected on the backtest metrics. The counts can be refined using the following filters:
- RSI above/below X
- Price above/below/at moving average of choice
- Relative volume above/below X
Average gain corresponding to each count as they occur can be toggled off for less clutter. Average price change can also be visualized using candle color. Colors, gradient and table/label sizes are fully customizable.
- Practical guide
Example #1: Identify reversal potential
Consecutive counting is a simple yet effective method to for detecting reversals, for which 7-9 counts are traditionally used. Whether that holds true or not can now be put through a test with different variations of the method as well as using additional filters to improve the probability of a turn.
Example #2: Identify trend following potential
Consecutive counts can also have utility value for trend following. When historical short term change is to the downside, expect downside, when to the upside, expect upside.
Devils Mark IndicatorWhen a candle opens and prints away without leaving a wick or tail, this Indicator will create a label above the open high or below the open low.
When a candle open = low, or a candle open = high the label will appear, but will delete if the condition on that candle does not remain true.
The label is fully customizable:
Style
Size
Color
Text Color
Vertical Offset
Label Text
Will create labels on every chart time frame.
Candlestick Trend Strength [AlgoAlpha]🚀🎉 Introducing the Candlestick Trend Strength by AlgoAlpha, a dynamic TradingView indicator designed to visually communicate the strength and direction of market trends right on your charts! 🕯️💪
Key Features:
🌈 Visual gauge for trend strength, color-coded for intuitive insights.
⏳ Customizable trend detection and normalization periods to match your trading strategy.
🎨 Flexible color settings for both uptrend (green) and downtrend (red).
🔔 Real-time alerts for trend reversals, helping you stay ahead of market moves.
How to Use:
🛠 Add the Indicator: Add the indicator to favorites and customize it to suit your needs.
🔍 Analyze the Trends: Monitor the color changes in the gauge and bar color to identify strengthening or weakening trends.
🔔 Set Alerts: Configure alerts to notify you of trend changes, allowing you to react swiftly to trading opportunities without constant monitoring.
Basic Logic Explained:
The "Candlestick Trend Strength" indicator calculates the trend strength score by analyzing the ratio of the candle's wick to its body, alongside the direction of the candle (up or down). It uses a normalization period to adjust the sum of the trend score into a scale from -1 to 1, which is then plotted as a color gradient gauge from red (downtrend) to green (uptrend) on the chart. This representation helps traders quickly assess whether a trend is gaining or losing strength, and it updates in real-time with each new bar, providing a highly responsive tool for technical analysis.
Embrace the power of visual trend analysis with the "Candlestick Trend Strength" by AlgoAlpha and transform your trading experience today! 🌟📈
Multi Time Period Box Analysis v2 [ HDBhagat ]The "Multi Time Period Chart" indicator in Pine Script is designed to overlay multiple sets of boxes on the chart, each representing price movements on different timeframes. It allows traders to visually compare price action across various timeframes simultaneously. The indicator offers flexibility by allowing users to choose between automatic mode (where timeframes are selected based on predefined rules) or manually defining custom timeframes.
Key Features:
Multi-Timeframe Analysis: The indicator enables traders to analyze price action across multiple timeframes concurrently, facilitating a comprehensive view of market dynamics.
User-Defined Timeframes: Traders can customize the timeframes for each set of boxes according to their preferences. They have the option to choose between automatic mode, which selects timeframes based on predefined rules, or manually inputting custom timeframes.
Visual Representation: Price movements are visually represented by boxes drawn on the chart, with each box indicating the price range (from high to low) within a specific timeframe. The color of the boxes indicates whether the closing price is higher or lower than the opening price.
Dynamic Updates: The indicator dynamically updates the boxes as new price data becomes available. It ensures that the visualization remains accurate and reflects the most recent market conditions.
Customizable Styling: Traders can customize the appearance of the boxes, including color, border style, and text display. This allows for personalization to suit individual preferences and improve readability.
Efficient Resource Management: The script efficiently manages computing resources by only processing data when necessary, avoiding unnecessary calculations and reducing runtime errors.
Compatibility: The script is compatible with the Pine Script language on the TradingView platform, making it accessible to a wide range of traders who use this platform for technical analysis.
Overall, the "Multi Time Period Chart" indicator provides traders with a powerful tool for conducting multi-timeframe analysis, aiding in trend identification, pattern recognition, and decision-making in the financial markets.
Custom Candle Body Color and EMA Crossover IndicatorWe determine if the price is below EMA 9 by comparing the close price with EMA 9.
We determine if the current candle body is huge compared to the previous candle's body.
We plot EMA 9 in black color and EMA 200 in green color.
We plot blue triangles below the bars for EMA crossover above and red triangles above the bars for EMA crossover below.
We set the color of the candle body to red if the price is below EMA 9 and to green if the price is above EMA 9, only when the current candle body is huge compared to the previous candle's body.
ICT Immediate Rebalance [LuxAlgo]The ICT Immediate Rebalance aims at detecting and highlighting immediate rebalances, a concept taught by Inner Circle Trader. The ICT Immediate Rebalance, although frequently overlooked, emerges as one of ICT's most influential concepts, particularly when considered within a specific context.
🔶 USAGE
Immediate rebalances, a concept taught by ICT, hold significant importance in decision-making. To comprehend the concept of immediate rebalance, it's essential to grasp the notion of the fair value gap. A fair value gap arises from market inefficiencies or imbalances, whereas an immediate rebalance leaves no gap, no inefficiencies, or no imbalances that the price would need to return to.
Following an immediate rebalance, the typical expectation is for two extension candles to ensue; failing this, the immediate rebalance is deemed unsuccessful. It's important to note that both failed and successful immediate rebalances hold significance in trading when analyzed within a contextual framework.
Immediate rebalances can manifest across various locations and timeframes. It's recommended to analyze them in conjunction with other ICT tools or technical indicators to gain a more comprehensive understanding of market dynamics.
🔹 Multi Timeframe
The script facilitates multi-timeframe analysis, enabling users to display immediate rebalances from higher timeframes.
Enabling the display of higher timeframe candles helps visualize the detected immediate rebalance patterns.
🔹 Dashboard
The dashboard offers statistical insights into immediate rebalances.
🔶 SETTINGS
🔹 Immediate Rebalances
Timeframe: this option is to identify immediate rebalances from higher timeframes. If a timeframe lower than the chart's timeframe is selected, calculations will be based on the chart's timeframe.
Bullish, and Bearish Immediate Rebalances: color customization options.
Wicks 75%, %50, and %25: color customization options of the wick price levels for the detected immediate rebalances.
Immediate Rebalance Candles: toggles the visualization of higher timeframe candles where immediate rebalance is detected.
Confirmation (Bars): specifies the number of bars required to confirm the validation of the detected immediate rebalance.
Immediate Rebalance Icon: allows customization of the size of the icon used to represent the immediate rebalance.
🔹 Dashboard
Dashboard: toggles the visualization of the dashboard, sets its location, and customizes the size of the dashboard.
🔶 RELATED SCRIPTS
Fair-Value-Gap
Thanks to our community for recommending this script. For more conceptual scripts and related content, we welcome you to explore by visiting >>> LuxAlgo-Scripts .
date & symbolHey y'all
If you are like me and you keep a record of your performance, adding date and symbol information will surely help you.
You can choose English or Spanish, and also choose between full or abbreviated date. If you want to see the day and if you want to see the symbol.
You can customize position, text size, text color, background.
Artharjan Day Trading RangeHi,
I have created Artharjan Day Trading Range indicator that plots the Intraday Trading Range for the day based on past 5 Days ATR value and takes 50% of that value and plots it above and below the current day's opening price. If current day close crosses above the Upper Level then we may see a Bullish trend otherwise Bearish trend can be seen. If the price trades between these two levels then options writers can write the Call options above Upper Level and Put options below Lower Levels.
I hope traders would love to use this script for trading Options.
Regards
Rrahul Desai
@Artharjan
Volume Bull/Bear Activity [ZC]Volume Bull/Bear Activity Summary
This indicator generates a summary of bull/bear activity for 20 symbols.
For each symbol, two bars are displayed, colored green and red.
The green bar indicates bull volume, reflecting activity within the last candle of the symbol.
The red bar signifies bear volume within the real-time bar, continuously updated.
You can seamlessly adjust the timeframe for this indicator.
Features :
Bear/Bull Volume bars ( Realtime )
ability to add 20 symbols
price is colored in Green or red to determine if its Green/Red candle .
More into its data
Momentum imbalance (internal liquidity) by CUWe have developed a sophisticated indicator to detect momentum, imbalance, and internal liquidity within financial markets. Designed to leverage real-time data analysis, this tool aims to assist traders in making more informed decisions.
The momentum component of the indicator calculates the rate at which prices move. By measuring price changes over a specific period, the indicator can show whether an asset is likely to continue rising or falling. This helps traders identify when a trend is gaining strength or beginning to wane.
Market imbalance is analyzed by observing the disparity in buy and sell orders. Our indicator identifies significant deviations between supply and demand, which can indicate potential turning points or accelerations in market movement. This aspect is crucial for understanding the underlying forces that influence price changes.
Regarding internal liquidity, our indicator measures the market depth and the availability of liquid assets. This component is essential for assessing how easily assets can be bought or sold without significantly impacting the price. High internal liquidity indicates a healthy market where transactions are executed quickly and efficiently, while low liquidity can lead to increased volatility and potential price manipulation.
By integrating these three components, our indicator provides a holistic view of market dynamics, enabling traders to operate more strategically and with greater confidence.
FVG Breakaway/3rd Candle (Arjo) [MK]Simple script to identify FVGs (Fair Value Gaps) on the current chart timeframe. The script differs from other FVG indicators on the Tradingview platform by using Arjos 3rd candle rule to identify which gaps are 'Breakway Gaps' and which Gaps are likely to be returned to.
NOTE: As with all 'trading rules' this theory is not 100% accurate.
default settings:
Breakaway Gaps = YELLOW
Gaps that price may return to = GREEN
Mitigated Gaps = 100% TRANSPARENT
What is a FVG:
A FVG is a price area defined by a 3 candle pattern. For a bullish FVG, the low of the 3rd candle must be higher than the high of the 1st candle. This then leaves an area that is drawn as in the example below:
A bearish FVG is defined by the high of the 3rd candle being lower than the low of the 1st candle, as shown in the example below:
FVGs can act like magnets where price will either retrace to or reach for, therefore they can be used as entry points and also for take profit target levels.
If for example, a trader would like to use an FVG for an entry, it would be useful to know which FVGs are more likely for price to re-enter and which FVG will be left un-touched. FVGs that are likely to be left un-touched by price are called 'Breakaway Gaps'.
How do we define a 'Breakaway Gap':
First we identify FVGs using the rules stated above, then we look to see where the 3rd candle closed in relation to the 2nd candle. For a bullish 'Breakaway Gap' we want to see the 3rd candle close above the high of the 2nd candle. An example of a bullish Breakaway Gap is shown in the example below:
A bearish 'Breakaway Gap' is defined by the close of the 3rd candle being lower than the low of the 2nd candle. An example is shown below:
How do we define an FVG that price may return to:
Any gap that does not meet the above rules for a 'Breakway Gap' is therefore considered an FVG that price may return to. So for a bullish FVG that price may return to we would look to see if the close of the 3rd candle is above the high of the 2nd candle. If it is not above the high of the 2nd candle then it more likely that price will retrace into the FVG before continuing higher. An example is shown below:
A bearish gap that price may return to is defined by the close of the 3rd candle not being lower than the low of the 2nd candle. An example is shown below:
The indicator is based on the teachings of 'Arjo'. Note: breakaway gaps will only remain 'breakaway' until a liquidity level is reached. Breakaways therefore do not remain 'breakaway' forever. Users of the indicators must fully comprehend this theory before using the indicator with live markets.
Users of the script should be fully aware of this concept and also have conducted thorough backtesting using a large data set before using this indicator with live accounts.
Red Candles with Green Precedent
**Title**: Red Candles with Green Precedent Indicator
**Description**:
This TradingView indicator is designed to help traders identify potential reversal or continuation patterns based on the appearance of consecutive red candles following a green candle. The script marks a region starting from a green candle that precedes at least four consecutive red candles, extending a box forward for a predefined number of bars to analyze the continuation of the trend.
**Key Features**:
- **Consecutive Red Candles Detection**: The indicator counts consecutive red candles that close lower than they open.
- **Initial Green Candle Identification**: Identifies the last green candle before a series of red candles begins. This green candle must close higher than it opens.
- **Visual Box Extension**: Creates a visual box from the open to the high of the green candle and extends it forward to highlight the period of interest.
- **Dynamic Box Termination**: Optionally terminates the box early if a significant green candle appears within the extension period, suggesting a potential reversal.
**Usage**:
1. **Setup**: Apply the indicator to any chart in TradingView. Adjust the number of consecutive red candles to track based on your trading strategy.
2. **Interpretation**: A visual green box will appear when the criteria are met. This box helps focus on the price action following a potentially significant green candle. Traders should watch for price actions within and around the box to make informed decisions.
3. **Alerts**: Consider setting alerts for when a new box is created or when a significant green candle forms that might terminate the box early, indicating potential market movements.
**Suitable for**: This indicator is suitable for traders looking for visual cues about potential bearish exhaustion or the setup for a bullish reversal, particularly in volatile markets.
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Feel free to customize the description and features according to any additional details or personal insights you might want to include based on your trading experience or the specific behaviors of the markets you track.
**Disclaimer**:
This script is provided as a tool for trading analysis and is not intended to be used as the sole basis for any trading decisions. While this indicator aims to identify potential trading opportunities, its effectiveness can depend on market conditions and individual trading strategies. Users should conduct their own research and consult with professional advisors before making any investment decisions. The creator of this script assumes no responsibility for any potential financial losses incurred from using this indicator. Trading in financial markets involves risk, and it is possible to lose more than your initial investment.
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Trend ChameleonThe Trend Chameleon, originally developed by Alex Cole for the Bloomberg Terminal, is a powerful tool designed to simplify trend identification and illuminate potential trading opportunities. It leverages a clear visual display to decode market movements, making it useful for traders of all experience levels.
🟠 Overview
Here's an illustration of how the indicator performs for ES (S&P 500 E-mini Future) on the daily chart:
Trend Chameleon employs a color-coded candle scheme, with each color corresponding to a specific level of trend strength. Purple candles represent the strongest bearish trends, while teal candles signal the most potent bullish momentum. Between these extremes lie red, yellow, and green candles, providing a spectrum of trend direction. This intuitive color coding allows you to quickly grasp the prevailing market sentiment and identify potential entry and exit points for your trades.
🟠 Algorithm
Under the hood, Trend Chameleon evaluates four conditions to provide a directional strength score:
1. Whether the MACD value is positive.
2. Whether the SMA 50 of open prices is above the SMA 50 of the close prices.
3. Whether the ROC indicator value is positive.
4. Whether the current close price is above the SMA 50.
The total number of fulfilled conditions (0 to 4) determines the trend strength, with 0 indicating the most bearish and 4 signifying the strongest bullish trend. This score is then visually represented by coloring the bars on the chart.
🟠 Note
If you don't see the bars being properly colored after adding this indicator, please ensure Trend Chameleon is positioned on top of all other indicators in your chart. This can be easily achieved by hovering over the indicator's name, clicking the three dots, selecting "Visual Order," and then choosing "Bring to front."
Holding Zone Input Parameters
The script has three input parameters:
· length: an integer input with a default value of 20, likely used for calculating moving averages or other indicators.
· zoneSize: a decimal input with a default value of 1.5, likely used to define the size of the "holding zone".
· entryZone: an integer input with a default value of 50, likely used to define the entry point for the strategy.
Calculate Holding Zone
The script calculates two values:
· highs: the highest high over the last length bars.
· lows: the lowest low over the last length bars.
Then, it calculates the zoneHigh and zoneLow values by subtracting/adding a fraction of the difference between highs and lows from/to highs and lows, respectively. This creates a "holding zone" between zoneHigh and zoneLow.
Plot Holding Zone
Finally, the script plots two lines:
· zoneHigh with a blue color and a linewidth of 2.
· zoneLow with a blue color and a linewidth of 2.
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For the 15 min timeframe I use the parameters 10 for the length, 0.5 for the zone size and 20 for the entry zone. this makes it more sensitive to price
Profitable L 1800 Candle Highlight [Beta]
Certainly! Here's a user guide for the provided Pine Script code:
User Guide: 1800 Candle Highlight Indicator
Overview:
The "1800 Candle Highlight" indicator is designed to visually emphasize the 18:00 (6:00 PM) candle on the chart, providing clarity on its open and close prices, and highlighting its timeframe with a distinctive color.
Key Features:
Candle Highlighting: The indicator identifies the candle that opens at 18:00 and visually distinguishes it from other candles on the chart.
Open and Close Prices: The indicator plots the open and close prices of the 18:00 candle as step lines, making it easy to identify price movements during that timeframe.
Background Color: It colors the background within the 18:00 candle's timeframe with a transparent blue shade, providing further emphasis on that period.
Start Marker: A downward triangle shape marks the start of the 18:00 candle, aiding in identifying the beginning of the highlighted timeframe.
Usage:
Overlay: The indicator is designed to be overlaid on the price chart, allowing users to visualize the highlighted candle alongside price movements.
Interpretation: Traders can observe the open and close prices of the 18:00 candle relative to previous and subsequent candles, aiding in analysis and decision-making.
Timeframe Focus: The highlighted candle's timeframe can serve as a reference point for analyzing price action during specific hours, such as the end of a trading day.
Installation:
Access: Users can access the Pine Script editor within the TradingView platform to create a new indicator.
Copy and Paste: Copy the provided Pine Script code and paste it into the editor.
Save and Apply: Save the indicator and apply it to the desired chart, adjusting settings as needed.
Customization:
Color Scheme: Users can customize the colors used for highlighting, open/close prices, and background to suit their preferences and chart aesthetics.
Styling: Adjustments can be made to line styles, widths, and marker sizes to enhance visibility and clarity.
Compatibility:
The indicator is compatible with TradingView's Pine Script version 5 and can be applied to various financial instruments and timeframes supported by the platform.
Disclaimer:
The "1800 Candle Highlight" indicator is provided for informational purposes only and should not be considered as financial advice. Users are encouraged to conduct thorough analysis and consider multiple factors before making trading decisions.
Joesax Red to Green with Alert V2 Candle IndicatorThis indicator displays transitions of candles from red to green and from green to red on a chart, with the ability to set an adjustable percentage threshold. When a candle transitions from red to green and the percentage change exceeds the specified threshold, a red to green transition signal is issued. Similarly, when a candle transitions from green to red and the percentage change exceeds the specified threshold, a green to red transition signal is issued.
Parameters:
Percentage threshold %: Allows you to set the percentage threshold to determine when to consider the transition from one candle to another significant.
Description:
This indicator uses the absolute percentage change between the opening price and the closing price of a candle to determine whether the candle is red or green. When a candle transitions from red to green and the percentage change exceeds the set threshold, a red to green transition signal is issued. Similarly, when a candle transitions from green to red and the percentage change exceeds the set threshold, a green to red transition signal is issued. Alerts are triggered when such transitions occur.
This indicator helps traders identify significant directional changes on the chart, enabling them to make informed decisions during financial market analysis.
Marubozu SignalsThis Pine Script code is designed to identify and plot Marubozu candlestick patterns on a trading chart. Marubozu candles are characterized by having very small or non-existent wicks (shadows) and a large body, indicating strong buying or selling pressure.
The script first calculates the body size and wick size for both red (bearish) and green (bullish) Marubozu candles. It then defines thresholds for both body and wick sizes based on a percentage of the body size. For example, a red Marubozu candle is identified if its body size is at least 90% of the calculated threshold, and both upper and lower wick sizes are smaller than 5% of the body size.
Similarly, green Marubozu candles are identified using the same logic. If a Marubozu candle of either color is detected, a corresponding label is plotted on the chart indicating the occurrence of the pattern. A "Sell" label is placed above the candle for red Marubozu patterns, while a "Buy" label is placed below the candle for green Marubozu patterns.
This script provides visual cues to traders, helping them quickly identify potential buying or selling opportunities based on Marubozu candlestick patterns. Traders can use these signals as part of their technical analysis to make informed trading decisions.
Inside Bar + Bullish and Bearish candlestick [Tarun]
Inside Bar Detection:
The function isInsideBar() checks if a bar is an inside bar, meaning its high is lower than the previous bar's high and its low is higher than the previous bar's low.
Inside bars are highlighted with an orange color.
Bearish Candlestick Patterns:
Bearish Engulfing: When the current candlestick's body completely engulfs the previous candlestick's body.
Dark Cloud Cover: When a bullish candle is followed by a bearish candle that opens above the previous bullish candle's close but closes below its midpoint.
Bearish Harami: When a small bullish candlestick is engulfed by a larger bearish candlestick.
Evening Star: A three-candle pattern consisting of a large bullish candle, a small-bodied candle with a gap up or down, and a large bearish candle that closes below the midpoint of the first candle.
Shooting Star: A single candlestick pattern with a small real body near the bottom of the price range and a long upper shadow.
Bearish Marubozu: A candlestick with a long bearish body and little to no upper or lower shadows.
Bearish candlestick patterns are highlighted with a red color and labeled with abbreviated names.
Bullish Candlestick Patterns:
Bullish Engulfing: Opposite of bearish engulfing, where the current candlestick's body completely engulfs the previous candlestick's body.
Piercing Pattern: When a bearish candle is followed by a bullish candle that opens below the previous bearish candle's low but closes above its midpoint.
Bullish Harami: Similar to bearish harami but bullish, where a small bearish candlestick is engulfed by a larger bullish candlestick.
Morning Star: A three-candle pattern opposite to the evening star, signaling a potential reversal from downtrend to uptrend.
Bullish Hammer: A single candlestick pattern with a small real body near the top of the price range and a long lower shadow.
Bullish Marubozu: A candlestick with a long bullish body and little to no upper or lower shadows.
Bullish candlestick patterns are highlighted with a purple color and labeled with abbreviated names.
Multi-TimeFrame Support and Resistance w/ Strength RatingMulti-TimeFrame Support and Resistance w/ Strength Rating
Short Description:
This indicator identifies key support and resistance levels on your chart and rates their significance based on a unique strength rating system. By analyzing price action across multiple timeframes, it helps you make informed trading decisions and understand the market structure more effectively.
Key Features:
Multi-Timeframe Analysis: The indicator can display support and resistance levels from up to three different timeframes simultaneously. This allows you to see the bigger picture and understand how levels from different timeframes interact with each other.
Strength Rating: Each support and resistance level is assigned a strength rating from 1 to 10, with 10 being the strongest. The strength rating is determined by the indicator's proprietary algorithm, which takes into account factors such as the number of times a level has been tested, the volume profile around the level, and the overall market context.
Customizable Display: You can choose how many levels above and below the current price you want to see on your chart. This helps to declutter your chart and focus on the most relevant levels. Additionally, you can opt to display the strength rating and the timeframe for each level.
Alerts: The indicator can send you alerts when the price closes above or below a key support or resistance level. This can help you stay on top of important market moves even when you're not actively watching the charts.
How to Use:
Add the indicator to your chart and customize the settings to your preference. You can choose which timeframes to display, the minimum strength rating for levels to be shown, and the number of levels above and below the current price.
Use the support and resistance levels identified by the indicator to make informed trading decisions. For example, you can look for long entries near strong support levels or short entries near strong resistance levels.
Pay attention to the strength rating of each level. Levels with higher strength ratings are more likely to hold and can be given more weight in your analysis.
Use the multi-timeframe analysis to understand the bigger picture. Levels that are significant across multiple timeframes are often more important than those that only appear on one timeframe.
Enable alerts to stay informed about important market moves. When the price closes above or below a key level, it can signal a potential trend change or breakout.
By using this Support and Resistance Levels with Strength Rating indicator, you can gain a deeper understanding of the market structure and make more informed trading decisions. The multi-timeframe analysis and strength rating system provide a unique perspective on the significance of each level, helping you to focus on the most important areas of support and resistance.
