OrderFlow [Probabilities] | FractalystWhat's the indicator's purpose and functionality?
The indicator is designed to incorporate probabilities with buyside and sellside liquidity, as well as premium and discount ranges within the market. It also provides traders with a multi-timeframe functionality for observing liquidity levels and probabilities across two timeframes without the need to manually switch between them.
These levels are often used in smart money trading concepts for identifying key areas of interest, such as potential reversal points, areas of accumulation or distribution, and zones of high liquidity.
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What's the purpose of these levels? What are the underlying calculations?
1. Understanding Swing highs and Swing Lows
Swing High: A Swing High is formed when there is a high with 2 lower highs to the left and right.
Swing Low: A Swing Low is formed when there is a low with 2 higher lows to the left and right.
2. Understanding the purpose and the underlying calculations behind Buyside , Sellside and Equilibrium levels.
3. Identifying Discount and Premium Zones.
4. Importance of Risk-Reward in Premium and Discount Ranges
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How does the script calculate probabilities?
The script calculates the probability of each liquidity level individually. Here's the breakdown:
1. Upon the formation of a new range, the script waits for the price to reach and tap into equilibrium or the 50% level. Status: "⏸" - Inactive
2. Once equilibrium is tapped into, the equilibrium status becomes activated and it waits for either liquidity side to be hit. Status: "▶" - Active
3. If the buyside liquidity is hit, the script adds to the count of successful buyside liquidity occurrences. Similarly, if the sellside is tapped, it records successful sellside liquidity occurrences.
5. Finally, the number of successful occurrences for each side is divided by the overall count individually to calculate the range probabilities.
Note: The calculations are performed independently for each directional range. A range is considered bearish if the previous breakout was through a sellside liquidity. Conversely, a range is considered bullish if the most recent breakout was through a buyside liquidity.
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What does the multi-timeframe functionality offer?
Enabling and selecting a higher timeframe in the indicator's user-input settings allows you to access not only the current range information but also the liquidity sides, status, price levels, and probabilities of a higher timeframe without needing to switch between timeframes and mark up the levels manually.
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What are the multi-timeframe underlying calculations?
The script uses the same calculations (mentioned above) and requests the data such as price levels, bar time, probabilities and booleans from the user-input timeframe.
Non-repainting Security Function with Lookahead ON
//Function to fetch data for a given timeframe
getHTFData(timeframe_,exp_) =>
request.security(syminfo.tickerid, timeframe_,exp_ ,lookahead = barmerge.lookahead_on)
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How to use the indicator?
1. Add the indicator to your TradingView chart.
2. Choose the pair you want to analyze/trade.
3. Enable the HTF in user-input settings and choose a timeframe as for your higher timeframe bias.
4. (Important) : Ensure that the probabilities on both timeframes are aligned in one direction. If not, switch between timeframes until you find a pair of timeframes that are in line with each other and have higher probabilities on one liquidity side.
For Swing traders:
Use Hourly timeframes (1H/2H/4H/8H/12H) as your current timeframe and 1D/3D/1W/2W for your higher timeframe (HTF).
Entry: Hourly Equilibrium level. (Limit order)
Stoploss: Place it on the side where the probability is lower than 50%.
Break-even level/TP1: Hourly breakout of the liquidity.
TP2: Target the Higher Timeframe (HTF) liquidity level where the probability is higher than 50%.
2H/1D COINBASE:BTCUSD
For Day traders:
Use minutely timeframes (5m/15m/30m) as your current timeframe and 1H/2H/4H/8H/12H for your higher timeframe (HTF).
Entry: Minutely Equilibrium level. (Limit order)
Stoploss: Place it on the side where the probability is lower than 50%.
Break-even level/TP1: Minutely breakout of the liquidity.
TP2: Target the Higher Timeframe (HTF) liquidity level where the probability is higher than 50%.
1H/5m COINBASE:BTCUSD
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User-input settings and customizations
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What makes this indicator original?
1. Real-time calculation of probabilities directly on your charts.
2. Multi-timeframe functionality, enabling effortless observation of liquidity levels and probabilities across two timeframes.
3. Status label for clear identification of whether price has reached equilibrium.
4. All levels are updated only upon candle closure above or below liquidity levels, ensuring it remains a non-repainting indicator.
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Terms and Conditions | Disclaimer
Our charting tools are provided for informational and educational purposes only and should not be construed as financial, investment, or trading advice. They are not intended to forecast market movements or offer specific recommendations. Users should understand that past performance does not guarantee future results and should not base financial decisions solely on historical data.
By continuing to use our charting tools, the user acknowledges and accepts the Terms and Conditions outlined in this legal disclaimer.
Discord
Trade Ideas to Discord WebhookTakes basic user inputs for entries, exits, stop loss and leverage.
Converts all inputs (removing unused ones) to an alert message.
Intended for use as a single alert / message.
Alert will fire as soon as activated - after that you should delete the alert to prevent multiple alerts being fired on subsequent candles.
DiscordWebhookFunctionLibrary "DiscordWebhookFunction"
discordMarkdown(_str, _italic, _bold, _code, _strike, _under) Convert string to markdown formatting User can combine any function at the same time.
Parameters:
_str : String input
_italic : Italic
_bold : Bold
_code : Code markdown
_strike : Strikethrough
_under : Underline
Returns: string Markdown formatted string.
discordWebhookJSON(_username, _avatarImgUrl, _contentText, _bodyTitle, _descText, _bodyUrl, _embedCol, _timestamp, _authorName, _authorUrl, _authorIconUrl, _footerText, _footerIconUrl, _thumbImgUrl, _imageUrl) Convert data to JSON format for Discord Webhook Integration.
Parameters:
_username : Override bot (webhook) username string / name,
_avatarImgUrl : Override bot (webhook) avatar by image URL,
_contentText : Main content page message,
_bodyTitle : Custom Webhook's embed message body title,
_descText : Webhook's embed message body description,
_bodyUrl : Webhook's embed body direct link URL,
_embedCol : Webhook's embed color,
_timestamp : Timestamp,
_authorName : Webhook's embed author name / title,
_authorUrl : Webhook's embed author direct link URL,
_authorIconUrl : Webhook's embed author icon by image URL,
_footerText : Webhook's embed footer text / title,
_footerIconUrl : Webhook's embed footer icon by image URL,
_thumbImgUrl : Webhook's embed thumbnail image URL,
_imageUrl : Webhook's embed body image URL.
Returns: string Single-line JSON format
Text Price to Chart By MercalonaThis script was developed to visualize ideas of trades sent by groups on the internet. For example (Telegram, Whatsapp, Discord).
This is a trade idea:
XAUUSD BUY
Entry: 1766.40
SL: 1757.40
TP1: 1769.40
TP2: 1772.40
TP3: 1776.40
TP4: 1780.40
TP5: 1800
So what needs to be done?
1. Open this script in the "GBPNZD" chart.
2. Click on "configuration"
3. Copy the message.
4. Paste the message in the "Prices" field
5. Click "Ok"
What is the end result?
Then, if everything goes well, all lines compatible with the price informed in the message text will be displayed.
The lines can be green if the word "buy" or "Bought" exists, otherwise it will be red
It is also possible to configure 3 dates to be displayed on the graph.
Usually the first date is set to know the point that the entry was made in the trade.
Please feedback us.
We hope this helps you!
[CM]EMA Trend Cross STRATVISUALLY REPRESENTS THE CROSSING OF 8,13,21,55 EMA'S FROM KROWNS TA PROGRAM
Hello everybody! I was curious and wanted to see how the Strat described in one of the modules would look coded. So here we are, a clear cut visual representation of the methods talked about in the course from the EMA Module. Enjoy!
(Instructions)
Whenever the 8,13,21 all cross above the 55ema that constitutes a long signal.
On the flip side, whenever the 8,13,21 all cross below the 55ema that constitutes a short signal.
(Description)
This indicator shows the cross described in the TA program using the EMAS 8,13,21,55.
The Ema's are editable.(Color)
It plots the entry and exit parameters.
This allows for a more visual representation of the ideology described in the course.
This indicator also doesn't leave room for ambiguity in terms of where a cross happens.
The EMA's can be toggled to show certain ones at certain times.
The indicator can be used as a trend analysis tool.
***In terms of an exit, I find it to be better to use your own judgement, taking account the greater trend.
For example, in a bull market I would advise looking for long signals, rather than try to hop on a counter trend play. Vice Versa in a bear market. It's better for jumping in to the greater momentum.
