Baha'i Reversal Points [CC]The Baha'i Reversal Points is a custom creation that combines some of my favorite passions, creating stock indicator scripts and my faith. The Baha'i Faith believes in the oneness of God and all religions, and sees the number 9 as significant because that is the number of major world religions as well as the Baha'i symbol is a nine-pointed star. The number 19 is also seen as significant because in the Baha'i calendar, there are 19 months, and each month is made up of 19 days. Anyway, with all that being explained, I created these reversal points to find the points where the last 19 highs or lows are higher or lower, respectively than the previous high or low nine days ago. As with many indicators, this does have some hits and misses but does a pretty good job of finding reversal points based on these criteria.
There are a few different ways to analyze this data to determine when to buy or sell. I have set the default behavior for when we encounter the first time that the amount of highs or lows is greater than or equal to the length amount using a crossover or crossunder alert. You could also ignore the crossover or crossunder alerts and buy when the count is greater than or equal to the length, which can happen for extended periods depending on the underlying trend. Overall, buy when the buy label appears and sell when the sell label appears.
Let me know if there are any other custom indicators or scripts you would like to see me publish!
Concept
KeitoFX Dynamic Indicator Free vers.This script represents a versatile dynamic indicator called "KeitoFX Dynamic Indicator Free version." It is developed by the author "KeitoFX" and operates as a custom indicator overlaying on financial charts. The indicator utilizes a unique algorithm to dynamically identify bullish and bearish candlestick patterns with specific criteria.
Key Features:
- The indicator visually marks bullish and bearish candlestick patterns using triangle shapes, providing quick visual cues to traders.
- Bullish patterns are detected when the closing price is higher than the opening price and the high and low prices of the candlestick form a narrow range.
- Bearish patterns are identified when the closing price is lower than the opening price, and the high and low prices also form a narrow range.
The indicator incorporates flexible settings that users can customize to fit their trading preferences:
- Users can choose the table's placement, either at the "Top Right," "Middle Right," or "Bottom Right" of the chart.
- Customizable dimensions for the width and height of the table are available.
- Adjustable text size settings ranging from "Auto" to "Huge" are provided for the displayed text.
- A descriptive table containing trading rules and conditions is optionally displayed below the price chart.
Additional Information:
- The indicator's color scheme is harmonious, with shades of purple and neutral tones.
- The "Require FVG" setting influences the pattern detection's sensitivity.
- A dynamic standard deviation is calculated based on the selected displacement settings and historical candle ranges.
- A "FVG" condition enhances pattern accuracy.
- Bullish and bearish pattern detection includes overlapping with other predefined arrays to increase pattern significance.
Note:
This indicator is provided under the Mozilla Public License 2.0, as indicated by the source code comment at the beginning of the script. Users are encouraged to review and comply with the license terms when using this indicator in their trading activities.
Omega OscillatorThe Omega Oscillator is a toolkit designed to help both experienced and new traders with their trading decisions.
This indicator is a part of the omega toolkit, and his creation method is based on the concept that every trading strategy should have a way to determine the trend, or the bias, that answers the question “long or short?”; the location, which identifies the best price level to enter into a position and to exit, both in profit and in loss, and that will decide the final risk-to-reward ratio of the trade you take; the signal, which is useful to determine the best moment to enter into a position and that if paired with the trend point, his purpose is to identify when the large trend picture is in confluence with the small term; and last but not least the filter point, the filter is used to have another way to have an additional confluence with the trade you want to take, and it’s important to reduce the number of false signals and to increase the win rate.
This tool aims to help traders with the identification of the filter, to allow traders to judge their trades with other tools that can reduce false signals. It’s important to note that indicator and technical analysis is only one of the several different ways to analyze an asset.
One of the main things to keep in mind when working with the financial markets is that not every asset, every historical phase, and every market condition is the same, this is why this tool can be highly personalized and adjustable and provide different overlay tools in order to allow traders to choose the best settings considering these variables and your backtests.
The Oscillator can potentially work on any timeframe and any market thanks to these characteristics, and contains several different unique features:
- Optimization for the perception length parameter, used to analyze data.
- Optimization for the analysis length parameter, used to display data.
- Faculty to personalize the aesthetics of the indicators with the colors and the line width of the main line.
- 5 different tools to let the user choose the optimal way to filter out false signals and analyze the markets.
This script contains several different oscillators, each one precisely designed to remove false signals of different methods of trade.
The first one, called “Omega” is a combination of the best functionality of the other indicator. It contains the “Pendulum” advanced stochastic lines and overbought and oversold lines to analyze reversals, a long-term smoothed histogram to analyze the trend direction based on the “Pullback” formula, and the excess in the volume of the “Interest” oscillator.
The second one is called “Efficiency” and it aims to be the optimal tool to combine with the popular volume spread analysis. His purpose is to analyze the efficiency that the volume has to move the price and this means that when the oscillator is positive, either for the short term with the separated colored lines or the histograms that show the difference between the two lines in the middle-long term trend, this means that the volume has more strength compared to the opposite site volume. The usage of this indicator is to filter out bad signals in the area you are evaluating to take a trade. Be aware that using this oscillator at the beginning of open sessions can lead to false results.
The third one is called “Interest” and it does not include the price in his calculation, but only the volume. It has both the main line and the histogram that like other indicators display respectively the short and the medium-long-term trend. His usage, with the deviation bands automatically displayed, is to detect if there is more strength in the positive candle volume or in the negative candles, to use the volume strength analysis, it’s great to predict reversal and to analyze divergences.
The fourth one is called “Pendulum” and it displays an advanced formula of the popular stochastic oscillator that includes volume, with the oversold and overbought formula that if crossed origin the colored area that you see at the opposite levels, his usage is to determine potential reversal and trend direction, occasionally you can also use the cross of the two lines as a signal to enter a trade.
Additionally, this tool has a histogram that displays the true momentum of the asset you are trading.
The fifth and last one is the Pullback oscillator, and it contains several unique features. This tool will show you the price, displayed as standard candles, of the price. This oscillator can be used both for trend following and for mean reversal trading analysis. The middle area and the smoothed line that you can see aim to be potential support and resistance zones for the price. Note that the price on the moving average of the oscillator is based on volume pressure, and the color of the middle zone area is on the direction of the large trend.
This oscillator also has reversal zones that can help traders identify potential trend exhaustion and reversal price levels, that dynamically change based on the trend situation and adapt their width to the price volatility.
Risk Disclaimer:
All content and scripts provided are purely for informational & educational purposes only and do not constitute financial advice or a solicitation to buy or sell any securities of any type. Past performance does not guarantee future results. Trading can lead to a loss of the invested capital in the financial markets. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
Omega AnalystThe Omega Analyst is a toolkit designed to help both experienced and new traders with their trading decisions.
This indicator is a part of the omega toolkit, and his creation method is based on the concept that every trading strategy should have a way to determine the trend, or the bias, that answers the question “long or short?”; the location, which identifies the best price level to enter into a position and to exit, both in profit and in loss, and that will decide the final risk-to-reward ratio of the trade you take; the signal, which is useful to determine the best moment to enter into a position and that if paired with the trend point, his purpose is to identify when the large trend picture is in confluence with the small term; and last but not least the filter point, the filter is used to have another way to have an additional confluence with the trade you want to take, and it’s important to reduce the number of false signals and to increase the win rate.
This tool aims to help traders with the identification of the location points, thanks to different technical analysis tools that allow determining objectively if the price is in a discount area or in a premium area, to evaluate both entry and exit points. It’s important to note that indicator and technical analysis is only one of the several different ways to analyze an asset.
One of the main things to keep in mind when working with the financial markets is that not every asset, every historical phase, and every market condition is the same, this is why this tool can be highly personalized and adjustable and provide different overlay tools in order to allow traders to choose the best settings considering this variable and your backtests.
This tool, thanks to the previously cited characteristics, can work on any market and any horizontal time frame, and it has different features:
- 7 different tools of technical analysis to analyze the market, some of them with multiple variants.
- An additional tool to display the open price of different sessions
- Easy setup: You can easily choose which indicator to display in order to analyze the markets the best.
- Easy to use and easy to adjust: common settings for all the indicators are easily configurable in the settings with the length or the size parameter. Note that not all the indicators use both parameters, in particular: the indicator mode works for the consolidation levels, the range of motion, the sr zones, and the regression line; the continuous length parameter changes the settings to the consolidation levels, the range of motion, the sr zones, the Fibonacci area, and the regression line; the interval size parameter change the anchor to the volume price, the pivot points and the range of motion.
- Common aesthetics: You can easily change the default premium, discount, and average color in order to have the best view of the indicators together with the line width, or choose to have the monochrome setting to have a more minimalistic style.
- Common usage: Every one of these uses has the same functionality: determine if the price is the fair value, in a premium situation, or in the discount area.
- Automatic settings: The indicator can be used in “Auto” mode if it works with resets like the range of motion interval, the VWAP, the pivot points, and the open prices. This way the indicator will automatically adjust itself to show the optimal results for the analysis you want to make on your chosen timeframe.
The first tool is called Consolidation levels, and it’s a great tool to use during ranging markets.
The consolidation levels are support and resistance levels and zones automatically displayed on the chart to identify the range of bargaining, that adapts considering the price volatility and automatically moves once the price has broken the extreme levels.
This tool has two variants. The fixed variants have, just like the name says, all fixed levels that stay the same until the price doesn’t break one of them.
The Adaptive variants of the Consolidation levels tool have a unique feature that makes the support and resistance zones move considering the price volatility and standard deviation.
The second tool is called “Range of Motion” and it comes in two different versions, called “Continuous” and “Interval”. The difference is just that the “Interval” version stays the same for the whole duration of the interval length you choose.
The range of motion indicator allows the user to see the level that works like support and resistance and the area that works like premium and discount areas. The levels are calculated using the ATR indicator on the mean center line.
On the fixed variant of the range of motion indicator, these levels, once plotted, stay the same until the end of the chosen time frame in the interval size setting to plot the indicator. This way it’s easier to adopt a kind of analysis that uses passive orders like limit buy and limit sell orders. The interval range of motion indicator works like fixed extension levels that display the optimal range of bargaining of that specific asset.
The third tool is the Support and Resistance zones. With this tool, you'll see automatic support and resistance based on past prices and pivot data.
The area and the least efficient levels can be disabled using the "Interval" indicator mode.
The color area automatically changes looking at the effective support or resistance purpose of that area. The area also changes with the "Continuous length" parameter.
The fourth tool is the Fibonacci zones, which display the area of discount and premium pricing using the quartile theory, showing the 25% and the 75% of the current swings as area and the golden zone as a standard line, that includes the space between the 61.8% and the 38.2%, with the 50% line in the middle. This tool works like a Donchian Channel but it shows areas instead of simple lines. The usage of this indicator is both for trend following and for mean reversal, the general definition is that it shows attention zones.
Now in the photo, you can see the fifth tool which is the Anchored VWAP, under the name of "Volume Price". The Volume-weighted average price is a powerful indicator that aims to give the average price of a determined time period and can be used, combined with the standard deviation, to find not only support and resistance levels but also the volume-objective premium and discount zone.
This specific indicator displays 5 lines: the VWAP, the first upper and lower deviation, and the first and second upper deviation lines, that create the previously mentioned zone.
The sixth tool is the Pivot Points standard. This tool is a popular indicator that displays key levels for a determined period of time.
The levels for each interval time are five different lines. The middle one, colored by default in gray, should be the prediction, based on the key price levels of the previous period chosen, of the fair value. The other one, called S1 and R1 are respectively the first level of support and resistance and are great if used as exit points and when combined with other S/R tools, the same is valid for the S2 and R2 levels, on the extreme part of the indicator.
Between the R1 and the R2, and between the S1 and S2 lines there are the previously mentioned Discount and Premium zones.
The seventh tool is the Regression Line. This indicator will show the deviation bands from the standard regression line. Given the fact that the usual linear regression channels available are repainting, and so they don't give realistic outcomes, this tool will give you past results based on the data of the channel in that price moment, being non-repainting. This tool also has an extension that aims to be a prediction about future outcomes in terms of volatility and direction of the price, and this extension can be disabled using the "Continuous" mode.
Just like other tools in this indicator, the linear regression channel will display the middle line and the two premium and discount zones.
The last tool of the Omega Analyst is the open prices.
With this simple-to-read tool, you will see plotted as dotted lines the open prices of the period you have chosen.
The open prices are common support and resistance level and can be used both for entry and exit points. Additionally, on higher timeframes, such as the open prices of the different months, these levels can be further extended to the recent days to have more support and resistance levels.
This tool needs to be adjusted based on your time zone in order to have the best results and can be done directly in the settings of the indicator under the Open prices section, just simply write down at what time it’s midnight in your country watching the desired hour on the chart.
In order to determine the premium or discount area with this tool, you’ll need to pay attention if the current open price indicator is higher or lower than the previous one plotted, if it’s higher you can assume that the price is in an up trend and this way the zone under the current dotted line is the discount zone.
The lines you’ll see plotted are either in the chosen discount or premium color, based if the price is above or below the current open prices indicator plotted.
Risk Disclaimer:
All content and scripts provided are purely for informational & educational purposes only and do not constitute financial advice or a solicitation to buy or sell any securities of any type. Past performance does not guarantee future results. Trading can lead to a loss of the invested capital in the financial markets. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
Omega IndicatorThe Omega Trend and Signal indicator is a toolkit designed to help both experienced and new traders with their trading decisions.
This indicator is a part of the omega toolkit, and his creation method is based on the concept that every trading strategy should have a way to determine the trend, or the bias, that answers the question “long or short?”; the location, which identifies the best price level to enter into a position and to exit, both in profit and in loss, and that will decide the final risk-to-reward ratio of the trade you take; the signal, which is useful to determine the best moment to enter into a position and that if paired with the trend point, his purpose is to identify when the large trend picture is in confluence with the small term; and last but not least the filter point, the filter is used to have another way to have an additional confluence with the trade you want to take, and it’s important to reduce the number of false signals and to increase the win rate.
This tool aims to help traders with the identification of the trend and the signal points, based on a large number of different formula that works combined to display the final output. It’s important to note that indicator and technical analysis is only one of the several different ways to analyze an asset.
One of the main things to keep in mind when working with the financial markets is that not every asset, every historical phase, and every market condition is the same, this is why this tool can be highly personalized and adjustable and provide different overlay tools in order to allow traders to choose the best settings considering this variable and your backtests.
This tool, thanks to the previously cited characteristics, can work on any market and any horizontal time frame, and it has different features:
- Both Trends following and Mean Reversal usage: with different trend detection and signal formulas (not to be followed blindly like any other indicator or trading method).
- Minimalistic usage: with easy-to-enable functions both functionally and aesthetically, to keep your charts clean and to give you the power to choose only what you want to use this indicator for.
- Candle coloring: the easiest way to identify the trend current situation based on the technical formula, with the color you have chosen, and with 5 different variations: strong sell, sell (same color of strong sell but less opacity), neutral, buy, strong buy (same color of buy with more opacity).
- Automatic signal coloring, that will change the way the signals are visualized based on the mid-term trend condition, giving you both entry and exit suggested signals.
- Trend signals: an option that will display the signal based on the same algorithm that works for the candle coloring, but visualizing only the most significant trend changes
- Signal filters, that works differently for trend following and for mean reversal settings, and are divided into three different categories: additional filters remove the repetitive signals in the trend following usage and the low volume signals in the mean reversal usage; location filter remove the signal that is over/below the current trend fair value, giving you only premium or discount signal based on the direction of the trade; and the confluence filter, that for trend following usage filter out signal not in confluence with the Trend cloud overlay indicator and for mean reversal keeps only the signal that is at least in the first band of the Extreme zones overlay indicator.
- Signal sensitivity optimization with the “Fast length” parameter, with base value “1” you can choose the multiplier for that parameter.
- Trend detection optimization with the “Slow length” parameter, with base value “1” you can choose the multiplier for that parameter.
- Overlay indicator optimization with the “Trend length” parameter, with base value “1” you can choose the multiplier for that parameter.
- 4 Overlay indicator to keep the analysis simple and to assist traders to see the trend clearer and identifying the best zones and conditions to enter a trade.
- The option to visualize as numbers that go from 0 to 10 the current trend strength based on the settings to want to use and calculated with the historical best number that has been displayed (it’s shown under the last candles, only if you have selected the trend following or the mean reversal settings).
- Automatic alerts for Buy and Sell signals based on the settings and the filter that you have chosen.
- The option to show only some parts of the indicator, such as the signals or the candle coloring.
- Heikin Ashi: a modified and more simple version of the classic Heikin Ashi candle that is not realistic on the market when used improperly. This option enables the overlay of the candle with the same high, low, and close of the original candle, but the open is the average of the previous open and the previous close.
The signals work this way: if the script has detected a buy signal if the current trend strength is in confluence with the signal, you’ll see a colored dot under the candle (or over if it’s sell), but if the signal is not in confluence, you’ll see a gray (or the color you have chosen for neutral color settings) mark in the same location, so under the candle, if it’s a buy signal not supported by the trend and over the candle if it’s a sell signals not in confluence with the trend parameters, and in this cases the signals aim to suggest to close your open opposite position. This works both for Trend following and for Mean reversal usage.
In this image, there are enable the Adaptive Zone and the Extreme Zones overlay indicators, with the Mean Reversal candle coloring and signal usage.
As you can see, the Extreme Zones are designed to give with a complex script the zones in which the price is likely to reverse, of course depending on the market condition and asset.
The Adaptive Zone is a modified version of the popular super trend indicator, and is designed to work in a different way: instead of giving a buy and sell signal at the switch of the direction, this tool gives its best when used as an area of support and resistance to enter a trade with a bigger risk to reward ratio.
In these other photos, you can see the Trend Midline and the Trend Cloud overlay indicators, with the Trend Following candle coloring and signal usage.
The Trend Midline is a powerful tool that includes different calculations inside and can work like a moving average to identify the level of support and resistance, take profit and stop loss. In addition to that, the Trend Midline overlay indicator is colored based on a large number of different indicators that display the final output as colors, this way, whenever the indicator is colored as the positive color (blue by default) you’ll have another confirmation that the trend is bullish, and vice versa.
The Trend Cloud is a modified version of the popular Ichimoku Kumo, created to help traders identify the trend direction the best. Another great way to use this tool is to mark a horizontal line at the price level in which the two lines of the indicator have switched in position to identify potential future levels of support and resistance.
Risk Disclaimer:
All content and scripts provided are purely for informational & educational purposes only and do not constitute financial advice or a solicitation to buy or sell any securities of any type. Past performance does not guarantee future results. Trading can lead to a loss of the invested capital in the financial markets. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
ICT Playbook by dokterfuseFEATURES
- New York daily ranges high to low
- 08-12 UTC-5 Time Window Highlighted
- New York day of week divider
- Weekly high/low + EQ
- TGIF
- Monday & Thursday range extended
- Weekly open
- Midnight open
- Previous daily range percentiles (fib)
- 5 ADR
PURPOSE INDICATOR & UNIQUENESS
The concepts used in this indicator are widely variated from teachings by 'The Inner Circle Trader' the purpose of this indicator is to give the 'ICT community' the
resourse to automate the visualization of the daily ranges in New York Time. The highs and lows from 00:00 - 00:00 [New York Time) will be horizontally plotted along
with vertical daily dividers. The indicator solves the struggle of having Tradingview's editor's 'normal' daily highs and lows which opens at 05.00 PM New York Time.
The indicator has flexible settings, so you can enable/disable whatever feature you'd like to have displayed. There is no other indicator which will give you the
daily range in New York Time. The previous daily range percentiles in new york time are the 25%, 50%, and 75% levels measured from the previous daily range
high and low , they are extended to the current day, this to measure whether price is in a premium or discount, and to converge it with PD Array's.
This feature alone, is nowhere to be seen... The concept of dividing daily ranges starting from 00.00 New York Time brought by ICT, can open a whole new world to
reading price action. This indicator enables it to plot these levels out automatically, without worrying about the 'normal daily open' at 05.00 PM New York Time.
The other features in the indicator such as TGIF, Weekly Range, 5ADR, Midnight Open, and more are mainly build to give you an intraweek perspective about
the behaviour of price action during specific times and 'time' levels, such as the opening price at midnight or the previous daily equilibrium .
TIMEFRAME & MARKETS
Since this indicator is made with the purpose of giving you an intra-week perspective, the author of this script would advice you to use anything in between
the '15m-1h' timeframe. The indicator is made mainly for Forex Pairs, however feel free to use it on other markets too.
WHAT IS NOT THE PURPOSE OF THIS INDICATOR
As the name tells you 'ICT Playbook'; it's a playbook of concepts by ICT for you to 'play around' with, so for study and educational purposes. This indicator IS NOT
a trading system, or a signal provider. Nor is it a roadmap of what's happening to the markets... Without a background in ICT his lectures, you won't have any idea
what kind of value this indicator provides. You will only understand this indicator if you are an intermediate ICT student.
FEATURES INSTRUCTION
1. New York Daily Ranges: This feature will plot 2 horizontal lines each day starting from 00.00 , 1 placed at the low and 1 placed at the high.
It will also plot vertical dividers in between. The line color and style are adjustable in the settings.
2. Time Window: This feature will plot a colored and transparent background to highlight the 08:00-12:00 New York Time window, which is often a time window
where a lot of volume enters the market. The 8.30-9.30 is extra highlighted, cause of the news embargo's and equities open will often bring 'Manipulation'.
3. New York Day of Week Divider: Will plot the names of the days above the chart
4. Weekly high/low + EQ: This feature will plot the current low and high of the week. Also, it will plot the EQ, which stands for the 'Equilibrium' of the weekly range
.
5. TGIF: 'Thank God It's Friday'; a concept of ICT where if we had consecutive up-days/down-days it will plot the 20%-30% of the weekly range .
6. Monday + Thursday Range Extended: ICT explained algorithmic principles coupled to these days. For example: "In a bullish week we can use Monday's high as support".
7. Weekly Open: Opening price of the weekly candle.
8. Midnight Open: Opening price of New York Midnight / True Day Open.
9. Previous Daily Range Percentiles: 25%, 50%, and 75% levels extended of the previous daily range .
10. ADR: 'Average Daily Range', the average range of 5 daily candles, the current daily range, and the previous daily range plotted in a table.
AUTHOR
This script is created by dokterfuse for the ICT community to make their tradingview experience easier. I'd like to give credits to ICT for his concepts used in this script.
TERMS & CONDITIONS
The indicator is only created for educational purposes, the script does not take any responsibility for the user's decisions in the markets. When using the tool,
you're agreeing to the 'Terms & Conditions'.
FUTURE UPDATES & BUGS
The script will be maintained and updated after the public release. Bugs and Ideas can be suggested in the comments.
Price based concepts / quantifytools- Overview
Price based concepts incorporates a collection of multiple price action based concepts. Main component of the script is market structure, on top of which liquidity sweeps and deviations are built on, leaving imbalances the only standalone concept included. Each concept can be enabled/disabled separately for creating a selection of indications that one deems relevant for their purposes. Price based concepts are quantified using metrics that measure their expected behavior, such as historical likelihood of supportive price action for given market structure state and volume traded at liquidity sweeps. The concepts principally work on any chart, whether that is equities, currencies, cryptocurrencies or commodities, charts with volume data or no volume data. Essentially any asset that can be considered an ordinary speculative asset. The concepts also work on any timeframe, from second charts to monthly charts. None of the indications are repainted.
Market structure
Market structure is an analysis of support/resistance levels (pivots) and their position relative to each other. Market structure is considered to be bullish on a series of higher highs/higher lows and bearish on a series of lower highs/lower lows. Market structure shifts from bullish to bearish and vice versa on a break of the most recent pivot high/low, indicating weak ability to defend a key level from the dominating side. Supportive market structure typically provides lengthier and sustained trending environment, making it an ideal point of confluence for establishing directional bias for trades.
Liquidity sweeps
Liquidity sweeps are formed when price exceeds a pivot level that served as a provable level of demand once and is expected to display demand again when revisited. A simple way to look at liquidity sweeps is re-tests of untapped support/resistance levels.
Deviations
Deviations are formed when price exceeds a reference level (market structure shift level/liquidity sweep level) and shortly closes back in, leaving participating breakout traders in an awkward position. On further adverse movement, stuck breakout traders are forced to cover their underwater positions, creating ideal conditions for a lengthier reversal.
Imbalances
Imbalances, also known as fair value gaps or single prints, depict areas of inefficient and one sided transacting. Given inclination for markets to trade efficiently, price is naturally attracted to areas that lack proper participation, making imbalances ideal targets for entries or exits.
Key takeaways
- Price based concepts consists of market structure, liquidity sweeps, deviations and imbalances.
- Market structure shifts from bullish to bearish and vice versa on a break of the most recent pivot high/low, indicating weak ability to defend a key level from the dominating side.
- Supportive market structure tends to provide lengthier and sustained movement for the dominating side, making it an ideal foundation for establishing directional bias for trades.
- Liquidity sweeps are formed when price exceeds an untapped support/resistance level that served as a provable level of demand in the past, likely to show demand again when revisited.
- Deviations are formed when price exceeds a key level and shortly closes back in, leaving breakout traders in an awkward position. Further adverse movement compels trapped participants to cover their positions, creating ideal conditions for a reversal.
- Imbalances depict areas of inefficient and one sided transacting where price is naturally attracted to, making them ideal targets for entries or exits.
- Price based concepts are quantified using metrics that measure expected behavior, such as historical likelihood of supportive structure and volume traded at liquidity sweeps.
- For practical guide with practical examples, see last section.
Accessing script 🔑
See "Author's instructions" section, found at bottom of the script page.
Disclaimer
Price based concepts are not buy/sell signals, a standalone trading strategy or financial advice. They also do not substitute knowing how to trade. Example charts and ideas shown for use cases are textbook examples under ideal conditions, not guaranteed to repeat as they are presented. Price based concepts notify when a set of conditions are in place from a purely technical standpoint. Price based concepts should be viewed as one tool providing one kind of evidence, to be used in conjunction with other means of analysis.
Price based concepts are backtested using metrics that reasonably depict their expected behaviour, such as historical likelihood of supportive price movement on each market structure state. The metrics are not intended to be elaborate and perfect, but to serve as a general barometer for feedback created by the indications. Backtesting is done first and foremost to exclude scenarios where the concepts clearly don't work or work suboptimally, in which case they can't be considered as valid evidence. Even when the metrics indicate historical reactions of good quality, price impact can and inevitably does deviate from the expected. Past results do not guarantee future performance.
- Example charts
Chart #1 : BTCUSDT
Chart #2 : EURUSD
Chart #3 : ES futures
Chart #4 : NG futures
Chart #5 : Custom timeframes
- Concepts
Market structure
Knowing when price has truly pivoted is much harder than it might seem at first. In this script, pivots are determined using a custom formula based on volatility adjusted average price, a fundamentally different approach to the widely used highest/lowest price within X amount of bars. The script calculates average price within set period and adjusts it to volatility. Using this formula, the script determines when price has turned significantly enough and aggressively enough to constitute a relevant pivot, resulting in high accuracy while ruling out subjective decision making completely. Users can adjust length of market structure basis and sensitivity of volatility adjustment to achieve desired magnitude of pivots, reflected on the average swing metrics. Note that structure pivots are backpainted. Typical confirmation time for a pivot is within 2-3 bars after peak in price.
Market structure shifts
Generally speaking, traders consider market structure to have shifted when most recent structure high/low gets taken out, flipping underlying bias from one side over to the other (e.g. from bullish structure favoring upside to bearish structure favoring downside). However, there are many ways to approach the concept and the most popular method might not always be the best one. Users can determine their own market structure shift rules by choosing source (close, high, low, ohlc4 etc.) for determining structure shift. Users can also choose additional rules for structure shift, such as two consecutive closes above/below pivot to qualify as a valid shift.
Liquidity sweeps
Users can set maximum amount of bars liquidity levels are considered relevant from the moment of confirmed pivot. By default liquidity levels are monitored for 250 bars and then discarded. Level of tolerance can be set to anything between 100 and 1000 bars. For each liquidity sweep, relative volume (volume relative to volume moving average) is stored and added to average calculations for keeping track of typical depth of liquidity found at sweeps.
Deviations
Users can set a maximum amount of bars price has to spend above/below reference level to consider a deviation to be in place. By default set to 6 bars.
Imbalances
Users can set a desired fill point for imbalances using the following options: 100%, 75%, 50%, 25%. Users can also opt for excluding insignificant imbalances to attain better relevance in indications.
- Backtesting
Built-in backtesting is based on metrics that are considered to reasonably quantify expected behaviour of the main concept, market structure. Structure feedback is monitored using two metrics, supportive structure and structure period gain. Rest of the metrics provided are informational in nature, such as average swing and average relative volume traded at liquidity sweeps. Main purpose of the metrics is to form a general barometer for monitoring whether or not the concepts can be viewed as valid evidence. When the concepts are clearly not working optimally, one should adjust expectations accordingly or take action to improve performance. To make any valid conclusions of performance, sample size should also be significant enough to eliminate randomness effectively. If sample size on any individual chart is insufficient, one should view feedback scores on multiple correlating and comparable charts to make up for the loss.
For more elaborate backtesting, price based concepts can be used in any other script that has a source input, including fully mechanic strategies utilizing Tradingview's native backtester. Each concept and their indications (e.g. higher low on a bearish structure, lower high on a bullish structure, market structure shift up, imbalance filled etc.) can be utilized separately and used as a component in a backtesting script of your choice.
Structure feedback
Structure feedback is monitored using two metrics, likelihood of supportive price movement following a market structure shift and average structure period gain. If either of the two employed tests indicate failed reactions beyond a tolerable level, one should take action to improve feedback by adjusting the settings. If feedback metrics after adjusting the settings are still insufficient, the concepts are working suboptimally for the given chart and cannot be regarded as valid technical evidence as they are.
Metric #1 : Supportive structure
Each structure pivot is benchmarked against its respective structure shift level. Feedback is considered successful if structure pivot takes place above market structure shift level (in the case of bullish structure) or below market structure shift level (in the case of bearish structure). Structure feedback constitutes as one test indicating how often a market structure state results in price movement that can be considered supportive.
Metric #2 : Structure period gain
Each structure period is expected to present favorable appreciation, measured from one market structure shift level to another. E.g. bullish structure period gain is measured from market structure shift up level to market structure shift down level that ends the bullish structure period. Bearish structure is measured in a vice versa manner, from market structure shift down level to market structure shift up level that ends the bearish structure period. Feedback is considered successful if average structure period gain is supportive for a given structure (positive for bullish structure, negative for bearish structure).
Additional metrics
On top of structure feedback metrics, percentage gain for each swing (distance between a pivot to previous pivot) is recorded and stored to average calculations. Average swing calculations shed light on typical pivot magnitude for better understanding changes made in market structure settings. Average relative volume traded at liquidity sweep on the other hand gives a clue of depth of liquidity typically found on a sweeps.
Feedback scores
When market structure (basis for most concepts) is working optimally, quality threshold for both feedback metrics are met. By default, threshold for supportive structure is set to 66%, indicating valid feedback on 2/3 of backtesting periods on average. On top, average structure period gain needs to be positive (for bullish structures) and negative (for bearish structure) to qualify as valid feedback. When both tests are passed, a tick indicating valid feedback will appear next to feedback scores, otherwise an exclamation mark indicating suboptimal performance on either or both. If both or either test fail, market structure parameters need to be optimized for better performance or one needs to adjust expectations accordingly.
Verifying backtest calculations
Backtest metrics can be toggled on via input menu, separately for bullish and bearish structure. When toggled on, both cumulative and average counters used in backtesting will appear on "Data Window" tab. Calculation states are shown at a point in time where cursor is hovered. E.g. when hovering cursor on 4th of January 2021, backtest calculations as they were during this date will be shown.
- Alerts
Available alerts are the following.
- HH/HL/LH/LL/EQL/EQH on a bullish/bearish structure
- Bullish/bearish market structure shift
- Bullish/bearish imbalance created
- Bullish/bearish imbalance filled
- Bullish/bearish liquidity sweep
- Bullish/bearish deviation
- Visuals
Each concept can be enabled/disabled separately for creating a selection indications that one deems relevant for their purposes. On top, each concept has a stealth visual option for more discreet visuals.
Unfilled imbalances and untapped liquidity levels can be extended forward to better gauge key areas of interest.
Liquidity sweeps have an intensity option, using color and width to visualize volume traded at sweep.
Market structure states and market structure shifts can be visualized as chart color.
Metric table can be offsetted horizontally or vertically from any four corners of the chart, allowing space for tables from other scripts.
Table sizes, label sizes and colors are fully customizable via input menu.
- Practical guide
The basic idea behind market structure is that a side (bulls or bears) have shown significant weakness on a failed attempt to defend a key level (most recent pivot high/low). In the same way, a side has shown significant strength on a successful attempt to break through a key level. This successful break through a key level often leads to sustained lengthier movement for the side that provably has the upper hand, making it an ideal tool for establishing directional bias.
Multi-timeframe view of market structure provides crucial guidance for analyzing market structure states on any individual timeframe. If higher timeframe market structure is bullish, it doesn't make sense to expect contradicting lower timeframe market structure to provide significant adverse movement, but rather a normal correction within a long term trend. In the same way, if lower timeframe market structure is in agreement with higher timeframe market structure, one can expect a reliable trending environment to ensue as multiple points of confluence are in place.
Bullish structure can be considered constructive on a series of higher highs and higher lows, indicating strong interest from bulls to sustain an uptrend. Vice versa is true for bearish structure, a series of lower highs and lower lows can be considered constructive. When structure does not indicate strong interest to maintain a supportive trend (lower highs on bullish structure, higher lows on bearish structure), a structure shift and a turn in trend might be nearing.
Market structure shifts are of great interest for breakout traders who position for continuation. Structure shifts can indeed be fertile ground for executing a breakout trade, but breakouts can easily turn into fakeouts that leave participants in an awkward position. When price moves further away from the underwater participants, potential for snowball effect of covering positions and driving price further away is elevated.
Liquidity sweeps as a concept is based on the premise that pivoting price is evidence of meaningful depth of liquidity found at/around pivot. If liquidity existed at a pivot once, it is likely to exist there in the future as well. When price grinds against liquidity, it is on a path of resistance rather than path of least resistance. Pivots are also attractive placements for traders to set stop-losses, which act as fuel for price to move to the opposite direction when swept and triggered.
Behind tightly formed pivots are potentially many stop-loss orders lulled in the comfort of having many layers of levels protecting their position. Compression that leaves such clusters of unswept liquidity rarely goes unvisited.
As markets strive for efficient and proper transacting most of the time, imbalances serve as points in price where price is naturally attracted to. However, imbalances too are contextual and sometimes one sided trading is rewarded with follow through, rather than with a fill. Identifying market regimes give further clue into what to expect from imbalances. In a ranging environment, one can expect imbalances to fill relatively quick, making them ideal targets for entries and exits.
On a strongly trending environment on the other hand imbalances tend to stick for a much longer time. In such environments continuation can be expected with no fills or only partial fills. Signs of demand preventing fill attempts serve as additional clues for imminent continuation.
AFRHi everyone! Sorry for not posting anything for so long again. I will be active in July, after passing my university exams. I bought some S&C magazine archives, so await my new post strategies and indicator in July, as things are gonna get real interesting! But for now let me hand you some new and interesting stuff — AFR indicator.
Actually, this is my third time republishing this indicator after a big timeout because of the battles with TV mods on reference politics (which I lost).
This is indicator was originaly made by some user from other trading website, which I can't mention because of TV reference politics.
Which principles are behind AFR?
First we define our own low and high (OL and OH respectively), which are equal to:
OL = open - ATR * ATR_Factor
OH = open + ATR * ATR_Factor,
where ATR — Average True Range,
ATR_Factor — "Factor" in the settings — multiplier for ATR.
On each tick we remember AFR's value from previous bar, if it is not 0.
When OL is greater then AFR, then AFR is equal to OL. It means that there is probably an uptrend, so we adjust AFR accordingly.
When OH is lower then AFR, then AFR is equal to OH. It means that there is probably a downtrend, so we adjust AFR accordingly.
How to use?
Green AFR — bullish trend.
Red AFR — bearish trend.
Green AFR's triangle up — buy signal — appears when AFR changes it's colour from red to green.
Red AFR's triangle down— sell signal — appears when AFR changes it's colour from green to red.
ALERTS INCLUDED!
My personal ecommendations
- You can AFR as a tool to find short-term and middle-term trends, as it does it's best to find such trends;
- If are a scalper, then you probably should try AFR on low factor settings, as AFR alone can find good scalping entries.
- As AFR is a trend indicator, please use it with other confirmation indicator to make better entries.
Hope you will find this script useful.
Take your profits!
- Tarasenko Fyodor
Volume Spread Analysis Candle PatternsVolume Spread Analysis (VSA) is a methodology used in trading and investing to analyze the relationship between volume, price spread, and price movement in financial markets. It was developed by Richard Wyckoff, a prominent trader and market observer.
The core principle of VSA is that changes in volume can provide insights into the strength or weakness of price movements and indicate the intentions of market participants. By examining the interplay between volume and price, traders aim to identify the behavior of smart money (informed institutional investors) versus less-informed market participants.
Key concepts in Volume Spread Analysis include:
1. Volume: VSA places significant emphasis on volume as a leading indicator. It suggests that changes in volume precede price movements and can provide clues about the market's sentiment.
2. Spread: The spread refers to the price range between the high and low of a given trading period (e.g., a candlestick or bar). VSA considers the relationship between volume and spread to gauge the strength of price action.
3. Upthrust and Springs: These are VSA candle patterns that indicate potential market reversals. An upthrust occurs when prices briefly move above a resistance level but fail to sustain the upward momentum. Springs, on the other hand, happen when prices briefly dip below a support level but quickly rebound.
4. No Demand and No Supply: These patterns suggest a lack of interest or participation from buyers (no demand) or sellers (no supply) at a particular price level. These conditions may foreshadow a potential price reversal or consolidation.
5. Hidden Buying and Selling: Hidden buying occurs when prices close near the high of a bar, indicating the presence of buyers even though the market appears weak. Hidden selling is the opposite, where prices close near the low of a bar, suggesting the presence of sellers despite apparent strength.
By combining these VSA concepts with other technical analysis tools, traders seek to identify potential trading opportunities with favorable risk-reward ratios. VSA can be applied to various financial markets, including stocks, futures, forex, and cryptocurrencies.
It's important to note that while VSA provides a framework for analyzing volume and price, its interpretation and application require experience, skill, and subjective judgment. Traders often use VSA in conjunction with other technical indicators and chart patterns to make well-informed trading decisions.
DZ Strategy ICTThe script presented is a trading strategy called "Breaker Block Strategy with Price Channel". This strategy uses multiple time frames (1 minute, 5 minutes, 15 minutes, 1 hour, and 4 hours) to detect support and resistance areas on the chart.
The strategy uses parameters such as length, deviations, multiplier, Fibonacci level, move lag and volume threshold for each time frame. These parameters are adjustable by the user.
The script then calculates support and resistance levels using the simple moving average (SMA) and standard deviation (STDEV) of closing prices for each time frame.
It also detects "Breaker Blocks" based on price movement from support and resistance levels, as well as trade volume. A Breaker Block occurs when there is a significant breakout of a support or resistance level with high volume.
Buy and sell signals are generated based on the presence of a Breaker Block and price movement from support and resistance levels. When a buy signal is generated, a buy order is placed, and when a sell signal is generated, a sell order is placed.
The script also plots price channels for each time frame, representing resistance and support levels.
Profit limit levels are set for each time range, indicating that the price levels assigned to positions should be closed with a profit. Stop-loss levels are also set to limit losses in the event of canceled price movements.
In summary, this trading strategy uses a combination of Breaker Block detection, support and resistance levels, price channels and profit limit levels to generate buy and sell signals and manage positions on different time ranges.
Market Structure and Liquidity IndicatorThis indicator tracks the market structure by identifying the highest high and lowest low. It then calculates the area of interest by taking the average of these levels. Additionally, it calculates liquidity by dividing the volume by the range between the highest high and lowest low.
Please note that this is a basic example, and you can modify and enhance it according to your specific requirements and trading strategy. Remember to thoroughly backtest and validate any trading strategy or indicator before using it in live trading.
V2 Indicator: A Unique IndicatorV2 Indicator: A Unique Indicator Combining Percentage Level and 5MWAP
V2 Indicator is an innovative trading tool developed by Najoomi Ji. It incorporates a combination of percentage levels and the 5MWAP (5 Moving Weighted Average Price) to provide valuable insights into market trends. The concept of percentage chart trading was inspired by the late Gurbachan Singh, the father of Najoomi Ji.
The primary rule of the V2 Indicator involves plotting lines on the chart based on the daily market open level and the percentage levels. At the start, a line is drawn 5% above and below the market open level on both sides. The indicator identifies the direction in which the market breaks out and prompts traders to enter the market accordingly.
To manage risk effectively, trailing stop-loss levels are employed in the V2 Indicator. These levels are set at significant percentage levels, such as 5%, 35%, 65%, and 95%. The market tends to respect these levels, making them crucial points for adjusting stop-loss orders.
Traders utilizing the V2 Indicator gain an advantage by closely monitoring the interplay between percentage levels and the 5MWAP. This indicator allows them to make informed decisions about market entry points, as well as effectively manage their trades by utilizing trailing stop-loss orders.
By combining the expertise of Najoomi Ji and the inspiration from Gurbachan Singh, the V2 Indicator offers a unique approach to trading, providing traders with a comprehensive tool for identifying market trends and managing risk effectively.
PSESS1 - Learn PineScript InputsThis is a script written exclusively for people who are trying to learn Pine Script.
PSESS stands for "Pine Script Educational Script Series" which is a series of scripts that helps Pine Script programmers in 2 ways:
1. Learn Pine Script at more depth by an interactive environment where they can immediately see the effects of any change in the pre-written code and also comparing different lines code having tiny differences so they can grasp the details.
2. Have this script open while coding in order to copy the line they find useful
Pine Script Library couldn't be used for this purpose since this script has educational aspect and needs to be executable individually.
This is Script 1 of PSESS and focuses on inputs in Pine Script.
The script is densly commented in order to make it understandable. here is the outline of the script:
1. Inputs that can be received through the indicator() function
2. 12 possible types of input
3. Input() function arguments: defval - title - tooltip - inline - group - confirm
4. The different display of tooltip when inputs are inline
5. Multiple price and time inputs (on single request or multiple requests)
6. What happens when title argument is not specified
7. References and key points from them
Draco This unique script identifies choppy market conditions and highlights them on the chart. In addition, it provides entry and take profit signals based on the Chandelier Exit trading strategy. By combining these features, the script helps traders make better decisions by recognizing choppy markets and providing clear entry and exit points.
How to use the script:
Add the script to your chart.
Adjust the input parameters as needed:
Chop Length: Determines the length of the ATR used for detecting choppy markets.
Chop Threshold (%): Defines the percentage threshold for considering a market choppy.
Sensitivity: Sets the ATR Multiplier for the Chandelier Exit trading strategy. Choose from Regular, Passive, or Aggressive sensitivity settings.
Look for highlighted areas on the chart. These areas represent choppy market conditions, where trading is not recommended due to the lack of a clear trend.
Monitor the Entry signals (horizontal lines with 'Entry' label) for potential trade opportunities when the market is not choppy.
Why it's unique:
This script combines the detection of choppy markets with a proven trading strategy, making it a valuable tool for traders who want to avoid unfavorable market conditions and capitalize on trending markets. By providing clear entry and exit points, the script helps traders increase their chances of success and minimize risk.
Sushi Trend [HG]🍣 The Sushi Roll, a trading concept conceived at a restaurant by Mark Fisher.
While the indicator itself goes by Sushi Trend, it is completely backed by the idea of Mark Fisher's Sushi Roll Reversal Pattern. No, it has nothing to do with raw fish, it just so happens that somebody was ordering sushi during the discussion of the idea, and that's how it got its name.
📝 Origin
First mentioned in his book, The Logical Trader --- the idea of the Sushi Roll is to serve as an early warning system to identify reversals in the market. Fisher defines the pattern as a series of 10 bars, split into two different sections, seen as 5 and 5. In order for the pattern to be emitted, the 5 bars to the right must completely engulf the 5 bars to the left. It's not a super complex system and is in fact extremely simple to grasp.
📈 Supertrend Similarities
Instead of displaying the pattern in the way Fisher meant for it to be portrayed (as seen in the photo above), I instead turned it into an indicator similar to that of Supertrend while also inheriting the same concepts from the pattern. I did this because the pattern itself has inconsistencies which can be quite noticeable when trading with it after a while. For example, these patterns can occur even during consolidating periods, and even though the pattern is meant to be recognized during trending markets, the engulfing bars can sometimes be left with indecisive directions.
➡️ The Result
Here is the result, visualized to be better in a trending format. (The indicator will not contain the boxes.)
While Fisher does mention the pattern to include 10 bars, you can actually use this pattern with any number of bars. At the end of the day, it's a concept derived from a discussion at a Japanese restaurant, and a pattern that has been around for years that has seen results. Due to this, I added an input option to control the series of bars for right-bar engulf detection.
To reassure the meaning of the pattern --> "A series of 10 bars" means 5 left bars and 5 right bars. So if you want to check if 5 right bars are engulfing the previous 5 bars (as seen in the photo above), you would want to select 5 in the input settings.
You can learn more about it from the following links
Market Reversals and the Sushi Roll Technique
The Logical Trader
Swing BoxesHey, folks!
Sorry for not posting anything for such a long time. Don't have enough ideas and resources to get inspiration, so trying to brainstorm good stuff in my free time from university studies.
But despite my absence more I now have 300+ people subscribed to me! Thanks, guys, for keeping interest for my work, as I still do value each boost on my script, for real :)
So here is new script , enjoy!
Swing Boxes is pretty simple indicator, which plots signals with "boxes", that help you determine price targets.
What is the idea behind?
I wanted to make indicator, that could help me make swing trades with nice accuracy (as all we want, lol), and for signal criteria I decided to use highs and lows of the price . Then I started coding some ideas to see which of them could be worthy. And, actually, Swing Boxes appeared to be good. But the thing is, that I didn't intend to build them, they appeared as an anomaly from my code :)
I started to explore this anomaly (it looked super cool, but was repainting hard) to fix it and I succeeded, now Swng Boxes don't repaint.
The main idea is that when price goes above it's highest value of p-bars back or below it's lowest value p-bars back, then there is a some god probability, that price will continue to follow current direction.
And the things about Swing Boxes is that when there is a good trend movement, the boxes become super small to track price movement and when price breaks out in the counter-trend direction, then you will be able to almost perfectly catch a top or a bottom! But most of the signals won't be so high-quality, so don't think that is this some holy grail to trade swing-trading, because it is not.
Signal logic
Quick hint:
- epsilon(variable e ) = ATR * ATR_Factor . It is used to determine box's sensitivity to price changes.
If previous close is higher than variable, which contains previous HIGHEST value (variable h in the code), then update the this variable by taking up-to-date highest value and add epsilon( e ) to it;
If previous close is lower than variable, which contains previous LOWEST value (variable l in the code), then update the this variable by taking up-to-date lowest value and substract epsilon( e ) from it.
Variables decribed above ( h and l ) are box's top and bottom respectively, so if price cross them, it is logical to update it is value.
Settings and what is what
Swing Box Period - numbers fo bars in the past to find highest and lowest price from. The bigger the input, the bigger the boxes will be;
ATR Period;
ATR Factor - multiplier for ATR, determines sensitivity for price changes. The bigger this input, the more accurate signals will be, but less the probability that the signal will be on the top or a bottom.
Show Boxes? - when chosen, plots box's top and bottom. Used to determine price targets.
Show Baseline? - when chosen, plot's baseline, which midline between box's top and bottom.
How to use?
This indicator plots green and red triangles by default.
- Green triangle --> Buy ;
- Red triangle --> Sell ;
As I've said before, many signals from indicator will probably be garbage, so you need to tune settings for youself, so it could satisfy you .
You can enable showing boxes to see box's top and bottom. Box's bottom --> your entry, top --> your profit target.
If you find a way to sort bad signals, you will be able to trade with super cool RR, because the signal from Swing Boxes appear to be a good one, there is almost 95% probability, that price will not even come close to your stop loss, so you can trade with super small stop-losses! Smaller stop-loss --> smaller risk --> smaller loss --> bigger profit, it is that easy.
Also you can enable baseline to use at as your 1st TP, and box's top/bottom as 2nd TP, closing 25% on TP1 and the rest on TP2 (but that is just mine recommendation, you can use different RM (risk-management), if you want).
Also you can use baseline as your S/R (Support/Resistance) line, test it out on your charts.
And please, hear me out: as all other indicators out here on the TradingView, Swing Boxes ARE NOT meant to be traded in solo! Many bad signal can go in a row, so PLEASE find your way to filter out bad signals with other indicators.
You can see here the example of a garabge-class signal in a row, so be don't be deluded!
I do hope that somebody will suggest and idea to improve this thing, as I personally don't have enough time to think about it because of my university studies, but I will probably try it make this thing better throughout the time.
And that's it for now, folks! If you have any ideas for scripts, strategies or anything else, feel free to DM me or leave a comment, I will check it.
Hope you will find this script useful.
Take your profits!
- Tarasenko Fyodor
ICT Market Structure and OTE ZoneThis indicator is based on the ICT (Inner Circle Trader) concepts, and it helps identify daily market structure and the optimal trade entry (OTE) zone based on Fibonacci retracement levels.
To read and interpret this indicator, follow these steps:
Daily High and Low: The red line represents the daily high, while the green line represents the daily low. These lines help you understand the market structure and the range within which the price has moved during the previous day.
OTE Zone: The gray area between two gray lines represents the optimal trade entry (OTE) zone. This zone is calculated using Fibonacci retracement levels (in this case, 61.8% and 78.6%) applied to the previous day's high and low. The OTE zone is an area where traders might expect a higher probability of a price reversal, following the ICT concepts.
To use this indicator for trading decisions, you should consider the following:
Identify the market structure and overall trend (uptrend, downtrend, or ranging).
Watch for price action to enter the OTE zone. When the price reaches the OTE zone, it may indicate a higher probability of a price reversal.
Combine the OTE zone with other confluences, such as support and resistance levels, candlestick patterns, or additional ICT concepts like order blocks and market maker profiles, to strengthen your trading decisions.
Always use proper risk management and stop-loss orders to protect your capital in case the market moves against your trade.
Keep in mind that the provided indicator is a simple example based on the ICT concepts and should not be considered financial advice. The ICT methodology is vast, and traders often combine multiple concepts to develop their trading strategies. The provided indicator should be treated as a starting point to explore and implement the ICT concepts in your trading strategy.
NewCopter📊 Indicator overview!
The indicator's strategy is based on calculations that are displayed on the chart based on price or volume.
Indicator uses a customizable volume threshold to filter out low volume candle and only display those with significant volume.
The algorithm analyzes market data and sets an entry/exit signal.
The key point of the indicator is reverse trades.
After the algorithm analyzes the current characteristics of the market, an entry signal is placed on the chart.
So whether you're a novice or experienced trader, indicator can help you stay ahead of the game and make more informed trading decisions.
As a result, the trader can be sure that the signal is based on data analysis.
A long or short position can be stopped either at a profit or at a small
loss without compromising the potential profit.
Signals without redrawing
📌Management of risks.
The market is unstable, and it is impossible to know what the future holds for it.
The only way to manage risk. You can limit the loss by setting a stop loss of 1% from the entry point.
Take profit is recommended to set with a ratio of 1:1, 1:2,1:3, with partial fixation of 40%, 30%, 30%!
We recommend fixing positions in parts. The signal in the opposite direction will be when the volume exits.
❕ To match the risk per trade, we recommend not entering with high leverage.
Trade only the amount you are willing to lose.
With increased volatility in the market and flat movement , the indicator can give many signals.
After a strong fall or rise, we recommend not to open positions, because.
high probability of flat movement.
✅Recommendations for the indicator!
Reverse transactions, the indicator shows where to buy-sell, sell-buy.
Entry / exit is carried out on the next candle after the candle with a signal (buy / sell)
Timeframes up to 1 hour (inclusive) are used, you can also use a higher timeframe.
Main trading pairs BTC BNB BIT
You can also trade other pairs, but you NECESSERY do a back test of the indicator.
⚙️!Technical part
The indicator is based on the EMA 20 and EMA 200 moving averages.
Which determine the current trend and the trend on higher timeframes.
the basic idea is that when we combine both we can see trend of the current and the past linear when they cross each other and from this we can make signals
Assuming that past shorter trend has the value of resistance or threshold values, so cross of current linear of those points can show if the trend is to buy or to sell by signals seen in the arrows .
So past and present mix and give us the future.
need to solve issue when market goes sideways but it easy to see how the trend look by the signals
It is also based on the open and close of past days, weeks, months.
The pivot high function calculates the pivot high, which is an important step in detecting bullish structures in the market.
The function also determines the swing state (high or low) of the current candle and returns the calculated swing values.
RSI are used.
RSI is a classic oscillator built on the basis of calculating the relative rate of change in asset prices
over a given period.
Additional tools: volume and volatility .
🗯Disclaimer
Please remember that past performance may not be indicative of future results.
Due to various factors, including changing market conditions, the strategy may no longer perform as well as in historical backtesting.
This post and the script don’t provide any financial advice.
And remember that past results in no way guarantee future results.
✔️If you already have your own strategy, you can use it along with the indicator.
Enjoy trading with our indicator.
Entry Percent: EssamThis Pine Script code is designed to perform the task of computing and showcasing the profit percentage, profit value, and the duration for which a specific asset is held, all in real-time. The script effectively leverages the built-in resources to provide a seamless and robust experience, as it presents the calculated figures in an easily readable format on the chart, without causing any lag or disruptions to the chart.
RAhul RAJ Out of Range Trade IndicatorThis indicator is for intraday with the basic logic that any script will always trade in its range.
So , if any script moves away from its range, it will try to come back to its normal range movement.
Suppose average movement of any share is 100 points, and share has moved more than 150 points there is high probability that it will move in opposite direction in order to have average movement of price of 100.
For Stocks please use average period as 15 days for index 30 days.
If share price(YELLOW LINE) moves away from higher or lower blue line, then with the help of volume confirmation a trade can be initiated in opposite direction.
Please note direction needs to be opposite of what has happened in the day.
for eg. upper blue line could be broken , in both situation i.e.. share price is rising or falling,
so if share price is rising and upper blue line is broken:
Bearsish trade can be initiated with the help of price action n volume .
if share price has falledn and upper blue is broken:
Bullish trade can be initiated with the help of volume n price action confirmation.
Release Notes:
Remove dead code
update average period m fib level
Trade Entry Check list - Smart Money ConceptThe indicator you see is written to evaluate the input parameters for a trade. Since my own style is smart money, and I always used to write on paper or mentally calculate the necessary inputs for a trade, I wrote this indicator to prevent mental or paper calculations.
This indicator is made up of different sections that you can see in the table and make the necessary changes in the Options section.
The first section is your instrument, which is automatically displayed on every chart.
The next section is the current market, which is written based on smart money and divided into Asia Time, Frankfurt Time, London Time, Lunch Time, and New York Time sections. Depending on our style, we usually do not trade during the Frankfurt Time and Lunch Time sections.
The next section is about the ascending or descending structure of the 4-hour and 15-minute timeframes, which of course, you can change this structure to your desired one.
These two sections have both manual and automatic modes. I went through a lot of trouble for the automatic section, so don't easily skip it and be sure to test it.
The following sections relate to other reasons for entering a trade, which are divided into several sections. The first section is the entry reasons related to my personal strategy, which is completely defined and shows the input calculation in the Calculation section. The second section is your inputs without calculation in the Counter section, and the third section is your personal inputs including the Counter. You have deep access to customizing this table.
RAHUL ATR + Volume SpikesNew Volume Spikes Strategy.
The Average True Range (ATR) indicator is a technical analysis tool that measures the volatility of an asset. It can be used to create a trading strategy by identifying periods of high volatility and making trades based on those conditions.
Here is an example of a simple ATR trading strategy:
Calculate the ATR for the asset you are trading. This can typically be done using a charting platform or software.
Identify the average ATR over a period of time (such as 14 days). This will be your "threshold" for determining high volatility.
When the current ATR is above the threshold, enter a long position (buy) in the asset.
When the current ATR is below the threshold, exit the long position (sell) and wait for the next period of high volatility.
Repeat the process for the next period of time.
This is a basic example of an ATR strategy and can be adjusted as per one's preference, you can add other indicators or market conditions to filter out trades and also use different time frame to check the ATR values. ATR can also be used in combination with other indicators and strategies to improve the accuracy of your trades.
It's always important to backtest any strategy before actually trading with real money, and also to consider the risk management, stop loss and profit taking levels, and adjust the strategy accordingly
Expected LiquiditySimple but effective script that displays Liquidity Premium/Discount areas in an adaptive way based on key Fibonacci levels.
You can increase or decrease the 'Period' value in the Settings to adjust the gap between the lines as you see fit.
By default the value is '46' which should suit most markets.
- The script contains Alerts which are triggered when a liquidity line is crossed by the price.
Good trading to all and don't forget, risk management remains the most important!
