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Pivot points and levels

Waldo RSI :oWaldo RSI :o Indicator Guide The Waldo RSI :o indicator is designed to complement the "Waldo RSI Overlay :o" by providing an RSI-based analysis on TradingView, focusing on macro shifts in market trends. Here's a comprehensive guide on how to use this indicator: Key Features: RSI Settings: RSI Source: Choose from ON RSI, ON HIGH, ON LOW, ON CLOSE, or ON OPEN to determine how RSI calculates pivots. RSI Settings: Source: Default is (H+L)/2, but you can select any price for RSI calculation. Length: Default RSI length is 7, which can be adjusted for sensitivity. Trend Lines: Show Trend Lines: Option to display trend lines based on RSI pivot points. Zigzag Length: Determines pivot point sensitivity. Confirm Length: Validates pivot points (default is 3). Colors: Customize colors for Higher Highs (HH), Lower Highs (LH), Higher Lows (HL), and Lower Lows (LL) on the RSI. Label Size and Line Width: Adjust the appearance of labels and lines. Divergences: Classic Divergences: Show Classic Div: Toggle to reveal divergences where RSI and price move in opposite directions. Colors: Set different colors for bullish and bearish divergence indicators. Transparency and Line Width: Control the visual impact of divergence signals. Hidden Divergences: Similar settings for identifying hidden divergences, suggest trend continuation. Breakout/Breakdown: Show Breakout/Breakdown: Generates signals for RSI breakouts or breakdowns, used by "Waldo RSI Overlay :o" for visual chart signals. Overbought/Oversold Zones: Show Overbought and OverSold Zones: Highlights when RSI goes above 70 (overbought) or below 30 (oversold). Moving Averages on RSI: The default Moving Average (MA) settings are tailored to capture macro shifts in market trends: Show Moving Averages: Option to overlay two MAs on the RSI for trend confirmation: Fast RSI MA: RSI Period: 50 (this is the period over which the RSI is calculated). MA Length: 50 (the number of periods used for the moving average of the RSI). Slow RSI MA: RSI Period: 50 (same as fast for consistency in RSI calculation). MA Length: 200 (longer term for capturing broader trends). Crossover Signals: The RSI changes color from red to green based on these moving average crossovers: When the Fast MA (50 period) crosses above the Slow MA (200 period), the RSI turns green, indicating potential bullish conditions or momentum shift. Conversely, when the Fast MA crosses below the Slow MA, the RSI turns red, suggesting bearish conditions or a shift back towards a downtrend. This 50-period RSI crossover setting is used to identify overall macro shifts in the market, providing a clear visual cue for traders looking at longer-term trends. Ghost Lines (Optional): Ghost Lines: Option to limit how far RSI trend lines extend, helping to keep the chart less cluttered. How to Use the Indicator: Setup: Configure RSI by choosing the source and setting the length to match your trading style. Set the zigzag and confirm lengths for appropriate pivot detection. Trend Analysis: Monitor the RSI for trend changes using the colored trend lines and labels. Divergence Detection: Look for RSI and price divergences to anticipate potential reversals or continuations. Breakout/Breakdown: Use these signals in conjunction with "Waldo RSI Overlay :o" for price action confirmation. Overbought/Oversold: Identify when the market might be due for a correction or continued momentum. Moving Averages: Focus on the color changes in RSI to understand macro trend shifts with the default 50/200 period setup. Ghost Lines: Enable for a cleaner chart if you don't need trend lines extending indefinitely. Usage Tips: Combine with other indicators for confirmation, as no single tool is foolproof. Adjust settings to suit different market conditions or trading timeframes. Use in tandem with "Waldo RSI Overlay :o" for a full trading signal system. Remember, trading involves significant risk, and historical data does not guarantee future performance. Use this indicator as part of a broader trading strategy.
Pine Script™ indicator
by RSI_Trading_Concepts
Waldo RSI Overlay :oWaldo RSI Overlay :o Indicator Guide Welcome to the guide for the Waldo RSI Overlay :o indicator on TradingView. This tool enhances your trading analysis through RSI-based overlays for trend analysis, divergence detection, and breakout/breakdown signals when used with its companion indicator, Waldo RSI :o. Key Features: RSI Overlay: • RSI Source: Choose from: o ON RSI: Uses the RSI values directly to detect pivots, focusing on RSI highs and lows for trend analysis. o ON HIGH, ON CLOSE, ON LOW, ON OPEN: These options base pivot detection on price action at those specific points, offering an alternative market structure view. • RSI Settings: o Source: Default is (H+L)/2, but you can select any price for RSI calculation. o Length: Default RSI length is 7, which you can adjust for sensitivity. Trend Lines: • Show Trend Lines: Toggle to display trend lines based on pivot points. • Zigzag Length: Sets the sensitivity of pivot point detection. • Confirm Length: Ensures the validity of pivot points (default is 3). • Colors: Customize colors for Higher Highs (HH), Lower Highs (LH), Higher Lows (HL), and Lower Lows (LL). • Transparency and Line Width: Control how trend lines and fills appear. • Label Size: Adjust the size of labels identifying pivot points. Divergences: • Classic Divergences: o Show Classic Div: Enable to highlight regular divergences where price and RSI move in opposite directions. o Colors: Define colors for bullish and bearish divergence lines and labels. o Transparency and Line Width: Adjust the visual impact of divergence signals. • Hidden Divergences: o Similar settings as classic, but these highlight divergences indicating trend continuation. Breakout/Breakdown: • Show Breakout/Breakdown: When activated, this feature signals when the price breaks through previous highs or lows. To activate these breakouts, you need the companion indicator Waldo RSI :o, select the SRC in the External section, and select the crossovers for each one. This combination provides RSI confirmation for breakout/breakdown events. Overbought/Oversold Zones: • Show Overbought and Oversold Zones: Bars are colored when RSI exceeds 70 (purple) or falls below 30 (blue), indicating potential market extremes. Moving Averages (Optional): • Show Moving Averages: Option to overlay two moving averages for trend confirmation. • Source, Type, Length: Customize each MA's configuration. Ghost Lines (Optional): • Ghost Lines: When enabled, trend lines extend for only a specified period (Ghost Length) instead of indefinitely. How to Use the Indicator: 1. Setup: o Configure RSI settings by choosing the RSI Source and adjusting the RSI Length to suit your trading style. o Set the Zigzag Length and Confirm Length for trend line sensitivity based on market volatility. 2. Trend Analysis: o Look at the colored horizontal lines and fills for HH, LH, HL, LL to discern market structure and potential reversal points. 3. Divergence Detection: o Identify divergences where price and RSI diverge. Regular divergences might signal trend exhaustion, while hidden ones could indicate trend persistence. 4. Breakout/Breakdown Signals: o Ensure you have both the Waldo RSI Overlay :o and Waldo RSI :o indicators applied. Green triangles below bars signal breakouts; red ones above indicate breakdowns, based on price movement with RSI confirmation from the companion indicator. 5. Overbought/Oversold: o Use these colored zones to spot potential momentum shifts or reversal areas. 6. Moving Averages on RSI: o If used, these can help confirm trends or identify crossover signals for additional trade confirmation. 7. Ghost Lines: o For a less cluttered chart, enable this to limit how far trend lines extend. Tips for Usage: • Always combine this indicator with other analytical tools for better confirmation. No single indicator should guide all decisions. • Adjust settings according to the asset's behavior and your trading timeframe. • Regularly review your settings as market dynamics change. Remember, trading involves risk, and past performance doesn't predict future outcomes. Use this indicator within a comprehensive trading strategy.
Pine Script™ indicator
by RSI_Trading_Concepts
Brokerir - Order BlocksOrder Block Trading Script for www.brokerir.com Effectively Identify Supply and Demand Zones In order to trade order blocks effectively, you need to identify key areas on the price chart where a large move has occurred. This script does the hard work of drawing order blocks for you, saving you time and effort. For more information head to brokerir.com Blue OB (Supply): Look for short opportunities (sell). Green OB (Demand): Look for long opportunities (buy). Important Notice: Not every order block will be a valid buying or selling point. It’s essential to confirm order blocks with additional analysis to ensure reliability. Alert System: You can set two types of alerts with this script: Buy Alert Sell Alert What are Order Blocks? Order blocks are significant institutional buy or sell orders placed over a certain period. During these moments, institutional players are working to build up their positions, and these blocks often serve as strong support or resistance levels for future price action. Release Notes – Published on Jan 25, 2025 Updated to PineScript v5 for enhanced performance. Fixed alert bug for more reliable notifications. Added clearer comments to improve code readability. Added the option to customize the color of order blocks.
Pine Script™ indicator
by SasanHATAM
Fibonacci Retracement + Pivot Points + RSI / Owl of ProfitFibonacci Retracement + Pivot Points + RSI Strategy This strategy combines Fibonacci Retracement, Pivot Points, and the Relative Strength Index (RSI) to identify key support/resistance levels, overbought/oversold conditions, and potential trade opportunities. Features: Fibonacci Retracement Levels: Key levels (38.2%, 50%, 61.8%) are plotted to identify potential support and resistance zones. Helps traders determine possible reversal or bounce points. Pivot Points: Automatically detects swing highs and lows on the chart. Assists in locating key levels for entry or exit. Relative Strength Index (RSI): Identifies overbought (above 70) and oversold (below 30) conditions. Provides additional confirmation for trades. Entry and Exit Conditions: Buy Signal: Triggered when the price bounces from a Fibonacci retracement level and RSI is below 30 (oversold). Sell Signal: Triggered when the price rejects a Fibonacci retracement level and RSI is above 70 (overbought). Customization Options: Adjust Fibonacci levels, pivot point sensitivity, and RSI thresholds to suit different markets and trading styles. Visualization: Fibonacci retracement levels and pivot points are displayed directly on the chart. RSI is plotted in a separate panel, with overbought/oversold levels clearly marked. This strategy is designed for educational and testing purposes. Use it as a foundation for further backtesting and adapting to your trading approach. Visit my website for more tools and strategies: bybitindicators.com Happy trading!
Pine Script™ strategy
by Owl_of_Profit
Price Level Break & Candle Pattern DetectorPrice Level Break & Candle Pattern Detector A powerful and customizable indicator that combines price level breakout detection with candlestick pattern analysis to generate precise trading signals. Key Features Monitors user-defined price levels for breakouts Identifies bullish and bearish candle patterns Generates real-time alerts when both conditions are met Customizable alert settings for improved trade management How It Works The indicator continuously monitors price action around specified price levels. When price breaks through these levels AND forms either a bullish or bearish candle pattern (based on your settings), it triggers an alert. This dual-confirmation approach helps reduce false signals and provides more reliable trading opportunities. Use Cases Support/Resistance breakout trading Key price level monitoring Trend reversal identification Breakout confirmation Risk management tool Benefits Reduces false breakout signals through pattern confirmation Saves time by automating price level monitoring Helps identify higher-probability trading setups Customizable to fit various trading strategies Perfect for both day trading and swing trading Alert Types Price level break alerts Candlestick pattern formation alerts Combined confirmation alerts Suggested Settings Set price levels at major support/resistance zones Adjust candle pattern sensitivity based on timeframe Use with multiple timeframes for confirmation Combine with volume analysis for better accuracy
Pine Script™ indicator
by diliproshitha
Dynamic Market Structure DetectorTitle: Dynamic Market Structure Detector – Real-Time BoS & ChoCH Signals Short Description: Identify market structure dynamically with real-time Break of Structure (BoS) and Change of Character (ChoCH) signals. Highlight untested support and resistance zones to improve trading precision. Full Description: The Dynamic Market Structure Detector is a powerful TradingView indicator designed for traders who want to automate the identification of key market structure levels. This indicator simplifies market analysis by dynamically tracking swing highs and lows, marking critical Break of Structure (BoS) and Change of Character (ChoCH) points, and highlighting untested support and resistance zones. Key Features: 1. Real-Time Signals: • Marks Break of Structure (BoS) and Change of Character (ChoCH) points as they occur. • Automatically updates as the market evolves. 2. Dynamic Swing Highs and Lows: • Tracks swing highs and lows based on user-defined sensitivity (Swing Length). • Adjust swing length to tailor signals for intraday or swing trading. 3. Untested Zones Highlight: • Visualize untested support and resistance zones dynamically. • Opacity settings allow customization for better chart readability. 4. Customizable Inputs: • Swing Length: Adjust the sensitivity of BoS and ChoCH signals. • Smaller Swing Length values (e.g., 3–5): Capture short-term market movements, ideal for intraday trading. • Larger Swing Length values (e.g., 10–20): Focus on significant market structure changes for swing or positional trading. Experiment with these values to find the best fit for your trading style. • Untested Zone Opacity: Control the visibility of highlighted support and resistance zones. • Lower opacity values (e.g., 10–50): Make the zones more prominent, helpful for darker chart backgrounds. • Higher opacity values (e.g., 70–90): Provide subtle highlights, better suited for lighter chart setups. • A value of 100% renders the zones completely transparent (invisible). Use this setting to customize the visual appearance of your chart while still retaining key zone information. 5. User-Friendly Visualization: • Color-coded labels for BoS (Green) and ChoCH (Red). • Highlight zones for untested areas using customizable colors (Support: Blue, Resistance: Orange). Why Use This Indicator? • Simplifies market structure analysis by automating key calculations. • Helps traders identify potential trend reversals and continuation points. • Reduces the need for manual charting, saving time and effort. • Provides visual clarity on untested zones for better decision-making. Recommended Usage: • Intraday Traders: Use smaller Swing Length values (e.g., 3–5) to capture short-term market movements. • Swing Traders: Opt for higher Swing Length values (e.g., 10–20) to focus on larger market structure changes. • Monitor untested zones for potential price reactions, enhancing your trade entries and exits. Notes : This indicator is best suited for traders who prefer price action trading and market structure analysis. While the indicator provides reliable insights, it is recommended to use it in conjunction with other analysis tools for a holistic trading approach. Credits: Developed by TradeTech Analysis to empower traders with automated tools for smarter trading decisions.
Pine Script™ indicator
by TradeTechanalysis
Auto Fibonacci Retracement by YilmazerBelirtilen bar sayısı ve fibonacci değerlerine göre fibonacci düzeltme seviyelerini grafik üzerinde çizer. Eğer grafikte belirtilenden daha az bar var ise bu durumda grafikte yer alan max bar sayısını dikkate alarak çizim yapar. Draws Fibonacci retracement levels on the chart based on the specified number of bars and Fibonacci values. If the chart has fewer bars than specified, it uses the maximum number of bars available on the chart for drawing.
Pine Script™ indicator
by m_a_yilmazer
measure last swing [keypoems]MEASURE LAST SWING Version: v0.0.7 An indicator for measuring market swings and calculating position sizing based on pivot points and risk parameters. Helps traders visualize price swings and automatically compute position sizes based on their desired risk amount. FEATURES: • Identifies and tracks last pivot point in price action • Displays visual measurements of price swing • Calculates position sizes based on risk parameters • Supports major futures contracts with automatic multiplier detection HOW IT WORKS: The indicator detects pivot highs and lows using your specified pivot strength, then draws measurement lines and calculates position sizes based on your risk parameters. It automatically cleans up old drawings when new pivot points are identified. INPUT PARAMETERS: General Settings: • Risk Amount - Amount you want to risk per trade • Pivot Strength - Bars required on either side to confirm a pivot • Offset - Number of bars to offset the vertical line Visual Settings: • Horizontal and Vertical Lines - Customizable colors, widths (1-4), and styles • Labels - Adjustable text color and size CONTRACT MULTIPLIERS: Automatically detects and applies the correct multiplier: • ES (E-mini S&P 500): 50.0 • MES (Micro E-mini S&P 500): 5.0 • NQ (E-mini Nasdaq): 20.0 • MNQ (Micro E-mini Nasdaq): 2.0 • YM (E-mini Dow): 5.0 • MYM (Micro E-mini Dow): 0.5 • Other symbols: 1.0 (default) DISPLAY ELEMENTS: 1. Horizontal line showing the level of the last pivot point 2. Vertical line measuring the distance to current price 3. Distance label showing point distance 4. Risk/Position label showing risk amount and calculated position size POSITION SIZING: Position Size = Floor(Risk Amount / (Distance in Points × Contract Multiplier)) IDEAL FOR: • Measuring price swings for technical analysis • Position sizing based on risk management rules • Identifying potential entry and exit points • Visual analysis of market structure • Risk management automation
Pine Script™ indicator
by keypoems
Highs & Lows RTH/OVN/IBs/D/W/M/YOverview Plots the highs and lows of RTH, OVN/ETH, IBs of those sessions, previous Day, Week, Month, and Year. Features Allows the user to enable/disable plotting the high/low of each period. Lines' length, offset, and colors can be customized Labels' position, size, color, and style can be customized Support Questions, feedbacks, and requests are welcomed. Please feel free to use Comments or direct private message via TradingView. Disclaimer This stock chart indicator provided is for informational purposes only and should not be considered as financial or investment advice. The data and information presented in this indicator are obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy. Users should be aware that: Any investment decisions made based on this indicator are at your own risk. The creators and providers of this indicator disclaim all liability for any losses, damages, or other consequences resulting from its use. By using this stock chart indicator, you acknowledge and accept the inherent risks associated with trading and investing in financial markets. Release Date: 2025-01-17 Release Version: v1 r1 Release Notes Date: 2025-01-17
Pine Script™ indicator
by kennethkhan
MEMEQUANTMEMEQUANT This script is a comprehensive and specialized tool designed for tracking trends and money flow within meme coins and DEX tokens. By combining various features such as trend lines, Fibonacci levels, and category-based indices, it helps traders make informed decisions in highly volatile markets. Key Features: 1. Category-Based Indices: • Tracks the performance of token categories like: • AI Agent Tokens • AI Tokens • Animal Tokens • Murad Picks • Each category consists of leader tokens, which are selected based on their higher market cap and trading volume. These tokens act as benchmarks for their respective categories. • Visualizes category indices in a line chart to identify trends and compare money flow between categories. 2. Fibonacci Correction Zones: • Highlights key retracement levels (e.g., 60%, 70%, 80%). • These levels are crucial for identifying potential reversal zones, commonly observed in meme coin trading patterns. • Fully customizable to match individual trading strategies. 3. Trend Lines: • Automatically detects major support and resistance levels. • Separates long-term and short-term trend lines, allowing traders to focus on significant price movements. 4. Enhanced Info Table: • Provides real-time insights, including: • % Distance from All-Time High (ATH) • Current Trading Volume • 50-bar Average Volume • Volume Change Percentage • Displays information in an easy-to-read table on the chart. 5. Customizable Settings: • Users can adjust transparency, colors, and ranges for Fibonacci zones, trend lines, and the table. • Enables or disables individual features (e.g., Fibonacci, trend lines, table) based on preferences. How It Works: 1. Tracking Money Flow Across Categories: • The script calculates the market cap to volume ratio for each category of tokens to help identify the dominant trend. • A higher ratio indicates greater liquidity and stability, while a lower ratio suggests higher volatility or price manipulation. 2. Identifying Retracement Patterns: • Leverages common retracement behaviors (e.g., 70% correction levels) observed in meme coins to detect potential reversal zones. • Combines this with trend line analysis for additional confirmation. 3. Leader Tokens as Indicators: • Each category is represented by its leader tokens, which have historically higher liquidity and market cap. This allows the script to accurately reflect the overall trend in each category. When to Use: • Trend Analysis: To identify which category (e.g., AI Tokens or Animal Tokens) is leading the market. • Reversal Zones: To spot potential support or resistance levels using Fibonacci zones. • Money Flow: To understand how capital is moving across different token categories in real time. Who Is This For? This script is tailored for: • Traders specializing in meme coins and DEX tokens. • Those looking for an edge in trend-based trading by analyzing market cap, volume, and retracement levels. • Anyone aiming to track money flow dynamics between different token categories. Future Updates: This is the initial version of the script. Future updates may include: • Support for additional token categories and DEX data. • More advanced pattern recognition and alerts for volume and price anomalies. • Enhanced visualization for historical data trends. With this tool, traders can combine money flow analysis with the 60-70% retracement strategy, turning it into a powerful assistant for navigating the fast-paced world of meme coins and DEX tokens. This script is designed to provide meaningful insights and practical utility for traders, adhering to TradingView’s standards for originality, clarity, and user value.
Pine Script™ indicator
by MEMEQUANTAI
2
ICT Dealing RangeICT Dealing Range This indicator identifies and plots ICT (Inner Circle Trader) Dealing Ranges - key institutional areas where smart money accumulates or distributes positions before significant moves. What is a Dealing Range? A Dealing Range is a significant price area where institutional traders accumulate or distribute their positions. These ranges form through a specific sequence of price movements that indicate institutional order flow: Bullish Dealing Range Sequence: 1. Initial High (H) 2. Initial Low (L) 3. Higher High (HH) 4. Lower Low (LL) 5. Break above HH (confirmation) Bearish Dealing Range Sequence: 1. Initial Low (L) 2. Initial High (H) 3. Lower Low (LL) 4. Higher High (HH) 5. Break below LL (confirmation) My Trading Strategy Entry Methods: 1. Range Extreme Retests: - After range formation, wait for price to return to either extreme - Long entries at range bottom with stops below - Short entries at range top with stops above 2. Mid-Line Strategy: - Use the mid-line as a pivot point for reversals - Long entries on mid-line bounce with stops below - Short entries on mid-line rejection with stops above Stop Loss Placement: - When entering at extremes: Place stops beyond the mid - When entering at mid-line: Place stops beyond the opposing extreme - Always respect the structure's boundaries Take Profit Targets: - Minimum 2:1 Risk-Reward ratio - For extreme entries: Target the opposite extreme - For mid-line entries: Target the nearest extreme Risk Management - Never enter without a clear invalidation point - Maintain minimum 2:1 RR ratio - Consider market structure and higher timeframe context Indicator Features - Auto-detection of dealing range patterns - Color-coded boxes (green for bullish, red for bearish) - Optional mid-line display - Customizable colors and styles - Adjustable pivot lookback periods Notes This tool is based on ICT concepts but should be used in conjunction with other forms of analysis. The dealing range provides a framework for understanding institutional order flow, but proper risk management and market context are essential for successful trading. Remember: The best trades often come from clean retests of these ranges after their initial formation. Patience in waiting for proper setups is key to successful implementation.
Pine Script™ indicator
by mindyourbuisness
2
KJS-- Gost Pivot MAKJS Ghost Pivot Moving Average This indicator calculates a "Ghost Pivot" by estimating where the monthly pivot level would be if the current candle's close represented the end of the month. The calculation uses: • The current month's high and low from regular trading hours (RTH). • The current candle's close, which includes both premarket and after-hours data. It also smooths the ghost pivot using a customizable simple moving average (SMA). Features: • Plots the current month's high (blue) and low (yellow) based on RTH data. • Calculates and plots a dynamic pivot (purple line) as the average of the monthly high, low, and current close (HLC3). • Includes a customizable SMA length for smoother pivot tracking (default: 3). This indicator helps traders anticipate potential monthly pivot levels in real-time while visualizing key support and resistance areas.
Pine Script™ indicator
by ksabobo
[volfgang] Pivot Levels (Open, Close, High, Low)This script provides a clear and consistent way to track key price levels from Weekly and Daily bars, directly on your current chart interval. The default colours are; Today & This Week Open = White Yesterday & Previous Week Open = Cream Yesterday's High = Red Yesterday's Low = Green Weekly Pivots are 2px, and Daily Pivots are 1px. Instead of requiring manual referencing of daily or weekly charts, these significant levels are automatically drawn and updated in real time, extending to the right as new bars form. It adds value by helping traders quickly identify potential support/resistance zones and compare intraday price action with higher-timeframe pivots. This approach can aid in scalping, day trading, or swing trading strategies that rely on past price levels for trade entries, exits, or stop loss placement. Daily Pivots Displayed Intraday The script imports the previous day’s High, Low, Open, and Close and draws lines on the current chart, so you can see exactly where those levels lie on any intraday timeframe. You can easily change the colour of these lines in the menu. Instead of switching between multiple charts for daily references, you can keep an intraday chart open and still watch how price behaves around these important daily pivots. Weekly Pivots for Broader Context In addition to daily levels, it also shows the previous week’s Open and Close. This feature helps traders who want to maintain a broader perspective and gauge the market’s weekly trend or bias while remaining on lower timeframes. Automatic Line & Label Management Each new trading day triggers a “session change” in the code, prompting the script to delete old lines and labels for daily levels. This keeps your chart from getting cluttered with outdated lines. Weekly lines and labels follow the same approach, ensuring only the most recent weekly levels are highlighted. Real-Time Extension Lines are continuously extended to the right as new bars print, ensuring that you always have an updated view of your key price levels without any manual adjustments. On the last bar, the script shifts to a time-based coordinate system for seamless visual extension. Minimal Recalculation This script uses security() calls in a carefully optimized way to reduce unnecessary recalculations and avoid repaint issues. By referencing open , close , etc., the lines remain fixed once the daily (or weekly) candle is confirmed. Flexible Usage You can apply this script to any symbol on TradingView. It’s especially beneficial for Forex pairs, indices, futures, or cryptocurrencies where you want to track significant past levels. If you’re a scalper looking for areas of likely reaction, or a swing trader watching weekly opens for trend confirmation, these levels can be integral to your technical approach. How to Use Add to Chart: Click the “Add to Favorite Indicators” or “Apply to Chart” button once published. Enable or Disable Previous Day Bars: Use the script’s input to toggle the display of previous day’s High, Low, Open, and Close lines if you only want weekly lines (or vice versa). Customize Visuals: You can change line colors, width, and label text in the “Style” or “Inputs” tab. Adjust them to fit your preferred color scheme. Interpretation: Daily levels typically carry relevance for the next trading session. They can be used for intraday support/resistance, breakout checks, or gap fills. Weekly levels help identify more prominent zones for bigger moves or for understanding overall sentiment from the prior week. Conceptual Underpinnings Support/Resistance: Past opens/closes often act as support or resistance because they represent important points of reference (where trading started or ended during a prior session). Market Psychology: Many traders watch daily or weekly closes to gauge momentum and bias, which can become self-fulfilling as more participants join around those levels. Improved Situational Awareness: By having these levels automatically drawn and updated, traders avoid missing critical areas where price may pivot. This script is intentionally open-source to help traders study and personalize it. By merging daily and weekly pivot concepts in a single script, it provides a convenient and efficient tool—rather than a simple mashup, it unifies two timeframes that are crucial in short-term and medium-term trading decisions. Remember that these levels alone do not constitute a complete trading system; they are best used as part of a broader strategy involving risk management, additional technical signals, and market context.
Pine Script™ indicator
by Volfgang
Dynamic S/R Levels: Edge FinderOverview The Dynamic S/R Levels: Edge Finder indicator is designed to identify dynamic support and resistance levels based on historical price action. It uses a combination of price extremes (highs and lows) over user-defined lookback periods, weighted moving averages (WMAs), and touch-count analysis to provide actionable insights into key market levels. This tool is ideal for traders who want to: Identify dynamic support and resistance zones. Understand the strength of these levels based on price touches. Make informed decisions using clear, adaptive levels. How It Works Dynamic Levels Calculation: The indicator calculates dynamic support levels using the lowest lows and dynamic resistance levels using the highest highs over user-defined lookback periods (e.g., 20, 40, 60 bars, etc.). These levels are updated dynamically as new price data becomes available. Touch Count Analysis: The indicator counts how many times the price has touched or come close to each support/resistance level within the lookback period. Levels with more touches are considered stronger and are highlighted accordingly. Weighted Moving Averages (WMAs): The indicator uses 50-period and 100-period WMAs to identify the closest support/resistance levels to the current trend. Levels near these WMAs are given additional weight, as they are more likely to act as significant barriers. Level Merging: If two support or resistance levels are too close to each other (based on the minimum distance percentage), the weaker level (with fewer touches) is removed to avoid clutter. Visualization: Support levels are displayed as dashed red lines, and resistance levels are displayed as dashed blue lines. Each level is labeled with its corresponding touch count, allowing traders to quickly assess its strength. How to Interpret the Indicator Strong Support/Resistance Levels: Levels with higher touch counts (e.g., 5, 10, or more) are considered stronger and are more likely to hold in the future. Use these levels to plan entries, exits, or stop-loss placements. Proximity to WMAs: Levels closest to the 50-period or 100-period WMA are more significant, especially in trending markets. These levels often act as dynamic barriers where price reactions are more likely. Breakouts and Rejections: If the price breaks through a strong resistance level, it may indicate a potential bullish trend. If the price rejects a strong support level, it may indicate a potential bearish trend. Always confirm breakouts or rejections with additional analysis (e.g., volume, candlestick patterns). Level Merging: Merged levels indicate areas of high confluence, where multiple support/resistance zones overlap. These areas are particularly important for decision-making, as they represent stronger market reactions. Key Features Customizable Lookback Periods: Adjust the lookback periods for each dynamic level to suit your trading style. Touch Count Labels: Quickly identify the strength of each level based on the number of price touches. Adaptive Levels: The indicator dynamically updates levels based on recent price action. Clean Visualization: Levels are automatically merged to avoid clutter and provide a clear view of the market structure. Usage Tips Trend Identification: Combine the indicator with trend-following tools (e.g., moving averages, trendlines) to confirm the overall market direction. Risk Management: Use the identified levels to set stop-loss orders or take-profit targets. Timeframe Flexibility: The indicator works on all timeframes, but it is particularly effective on higher timeframes (e.g., 1H, 4H, Daily) for more reliable levels. Example Scenarios Bounce Trade: If the price approaches a strong support level (high touch count) and shows signs of rejection (e.g., bullish candlestick patterns), consider a long position with a stop-loss below the support level. Breakout Trade: If the price breaks above a strong resistance level with high volume, consider a long position with a target at the next resistance level. Range-Bound Market: In a sideways market, use the support and resistance levels to identify range boundaries and trade bounces between them. Disclaimer Dynamic S/R Levels: Edge Finder is a technical analysis tool designed to identify dynamic support and resistance levels based on historical price action. It is intended for informational and educational purposes only. This indicator does not provide financial, investment, or trading advice. Users are solely responsible for their trading decisions and should conduct their own research and analysis before making any trades. The developer of this tool is not liable for any financial losses or damages resulting from the use of this indicator. Trading in financial markets involves risk, and you should only trade with capital you can afford to lose.
Pine Script™ indicator
by alwaysfree2021
1
Pivot and Golden Crossover Swing Strategy### Strategy Description: This **Pivot and Golden Crossover Swing Strategy** combines moving averages and pivot points to identify potential swing trade opportunities. It is designed for traders who want to leverage momentum and key price levels in their decisions. #### Key Features: 1. **Golden Crossover**: - A long position is triggered when the short moving average (50-period by default) crosses above the long moving average (200-period by default). - A short position is triggered when the short moving average crosses below the long moving average. 2. **Pivot Points**: - Identifies recent high and low pivot levels based on a user-defined lookback period (default is 5 candles). - Pivot points are used to determine entry levels and calculate stop-loss and take-profit targets. 3. **Risk Management**: - Stop-loss levels are set relative to pivot points with a user-defined multiplier (default: 1.5x). - Take-profit targets are based on the distance between moving averages, adjusted by a multiplier (default: 2.0x). 4. **Visual Indicators**: - Moving averages are plotted on the chart for trend visualization. - Pivot points are marked with triangle shapes for easy identification. #### Use Case: This strategy works well in trending markets where golden crossovers indicate momentum shifts. The pivot points ensure precise trade management, making it suitable for swing traders aiming to capture medium-term price movements. Let me know if you'd like any further details or adjustments!
Pine Script™ strategy
by hukumatsingh
Engulfing Candle by SmanovThis custom Pine Script indicator highlights bullish and bearish engulfing candles while ensuring the previous candle is not an inside bar (relative to the candle before it). Engulfing candles are often seen as potential reversal signals. By including an extra filter that excludes so-called “inside bars,” the indicator aims to provide stronger and more reliable signals. How It Works Bullish Engulfing Condition The current candle is bullish (close > open). The current candle’s low is lower than the previous candle’s low, and the current candle’s high is higher than the previous candle’s high (true “engulfing” from top to bottom). The current candle closes above the previous candle’s high (confirms a breakout above the previous high). Bearish Engulfing Condition The current candle is bearish (close < open). The current candle’s high is higher than the previous candle’s high, and the current candle’s low is lower than the previous candle’s low. The current candle closes below the previous candle’s low (confirms a breakdown below the previous low). Non-Inside-Previous-Bar Filter The indicator checks the previous candle to ensure it is not an inside bar (where the entire high-low range of the previous candle sits inside the range of the candle before it). By doing so, the indicator ignores signals where the previous candle is potentially indecisive or “inside.” When these conditions are met, the indicator plots a triangle above (for bearish) or below (for bullish) the candle. You can also enable alerts to receive notifications each time a valid engulfing candle forms. Features Clear Markers on the Chart: Triangles appear near the bars that fulfill the engulfing criteria, simplifying quick identification of potential reversal points. Non-Inside Bar Filtering: Reduces false signals by ensuring the previous candle range is not contained within the range of the candle before it. Alert Conditions: Create TradingView alerts to be notified via push messages, email, or pop-ups whenever a bullish or bearish engulfing setup occurs. Easy Customization: You can tweak the logic for stricter or looser engulfing definitions or add your own additional filters (volume, RSI, etc.) if needed. How to Trade with It Reversal Opportunities Bullish Engulfing: Signals a potential bullish reversal. Traders might look to go long if other supporting factors (support level, bullish divergence, etc.) confirm the trend change. Bearish Engulfing: Signals a potential bearish reversal. Traders might go short if there is additional confluence (resistance level, overbought conditions, etc.). Combine with Other Indicators While an engulfing candle by itself can be meaningful, adding a momentum oscillator (e.g., RSI, MACD) or volume analysis often strengthens confirmation. Look for bullish engulfing signals near known support levels, or bearish engulfing signals near known resistance levels. Risk Management Place stop-loss orders below (for bullish entries) or above (for bearish entries) the engulfing candle to reduce risk. Use your usual position sizing and money management rules. Avoid Choppy Markets Because this indicator focuses on engulfing patterns that break the previous candle’s high or low, it can reduce whipsaws in sideways markets. Still, confirm that the market isn’t in an extended range before acting. Disclaimer: This indicator is a technical tool designed to assist traders in identifying potential reversal points. It is not a standalone trading system. Always practice proper risk management, and confirm signals with additional analysis before entering any trade.
Pine Script™ indicator
by Smanov_I