Smarter Money Concepts - FVGs [PhenLabs]📊 Smarter Money Concepts - FVGs
Version: PineScript™ v6
📌 Description
Smarter Money Concepts - FVGs is a sophisticated indicator designed to identify and track Fair Value Gaps (FVGs) in price action. These gaps represent market inefficiencies where price moves quickly, creating imbalances that often attract subsequent price action for mitigation. By highlighting these key areas, traders can identify potential zones for reversals, continuations, and price targets.
The indicator employs volume filtering ideology to highlight only the most significant FVGs, reducing noise and focusing on gaps formed during periods of higher relative volume. This combination of price structure analysis and volume confirmation provides traders with high-probability areas of interest that institutional smart money may target during future price movements.
🚀 Points of Innovation
Volume-Filtered Gap Detection : Eliminates low-significance FVGs by requiring a minimum volume threshold, focusing only on gaps formed with institutional participation
Equilibrium Line Visualization : Displays the midpoint of each gap as a potential precision target for trades
Automated Gap Mitigation Tracking : Monitors when price revisits and mitigates gaps, automatically managing visual elements
Time-Based Gap Management : Intelligently filters gaps based on a configurable timeframe, maintaining chart clarity
Dual Direction Analysis : Simultaneously tracks both bullish and bearish gaps, providing a complete market structure view
Memory-Optimized Design : Implements efficient memory management for smooth chart performance even with numerous FVGs
🔧 Core Components
Fair Value Gap Detection : Identifies price inefficiencies where the current candle’s low is higher than the previous candle’s high (bearish FVG) or where the current candle’s high is lower than the previous candle’s low (bullish FVG).
Volume Filtering Mechanism : Calculates relative volume compared to a moving average to qualify only gaps formed during significant market activity.
Mitigation Tracking : Continuously monitors price action to detect when gaps get filled, with options to either hide or maintain visual representation of mitigated gaps.
🔥 Key Features
Customizable Gap Display : Toggle visibility of bullish and bearish gaps independently to focus on your preferred market direction
Volume Threshold Control : Adjust the minimum volume ratio required for gap qualification, allowing fine-tuning between sensitivity and significance
Flexible Mitigation Methods : Choose between “Wick” or “Close” methods for determining when a gap has been mitigated, adapting to different trading styles
Visual Customization : Full control over colors, transparency, and style of gap boxes and equilibrium lines
🎨 Visualization
Gap Boxes : Rectangular highlights showing the exact price range of each Fair Value Gap. Bullish gaps indicate potential upward price targets, while bearish gaps show potential downward targets.
Equilibrium Lines : Dotted lines running through the center of each gap, representing the mathematical midpoint that often serves as a precision target for price movement.
📖 Usage Guidelines
General Settings
Days to Analyze : Default: 15, Range: 1-100. Controls how many days of historical gaps to display, balancing between comprehensive analysis and chart clarity
Visual Settings
Bull Color : Default:(#596fd33f). Color for bullish Fair Value Gaps, typically using high transparency for clear chart visibility
Bear Color : Default:(#d3454575). Color for bearish Fair Value Gaps, typically using high transparency for clear chart visibility
Equilibrium Line : Default: Enabled. Toggles visibility of the center equilibrium line for each FVG
Eq. Line Color : Default: Black with 99% transparency. Sets the color of equilibrium lines, usually kept subtle to avoid chart clutter
Eq. Line Style : Default: Dotted, Options: Dotted, Solid, Dashed. Determines the line style for equilibrium lines
Mitigation Settings
Mitigation Method : Default: Wick, Options: Wick, Close. Determines how gap mitigation is calculated - “Wick” uses high/low values while “Close” uses open/close values for more conservative mitigation criteria
Hide Mitigated : Default: Enabled. When enabled, gaps become transparent once mitigated, reducing visual clutter while maintaining historical context
Volume Filter
Volume Filter : Default: Enabled. When enabled, only shows gaps formed with significant volume relative to recent average
Min Ratio : Default: 1.5, Range: 0.1-10.0. Minimum volume ratio compared to average required to display an FVG; higher values filter out more gaps
Periods : Default: 15, Range: 5-50. Number of periods used to calculate the average volume baseline
✅ Best Use Cases
Identifying potential reversal zones where price may react after extended moves
Finding precise targets for take-profit placement in trend-following strategies
Detecting institutional interest areas for potential breakout or breakdown confirmations
Plotting significant support and resistance zones based on structural imbalances
Developing fade strategies at key market structure points
Confirming trade entries when price approaches significant unfilled gaps
⚠️ Limitations
Works best on higher timeframes where gaps reflect more significant market inefficiencies
Very choppy or ranging markets may produce small gaps with limited predictive value
Volume filtering depends on accurate volume data, which may be less reliable for some symbols
Performance may be affected when displaying a very large number of historical gaps
Some gaps may never be fully mitigated, particularly in strongly trending markets
💡 What Makes This Unique
Volume Intelligence : Unlike basic FVG indicators, this script incorporates volume analysis to identify the most significant structural imbalances, focusing on quality over quantity.
Visual Clarity Management : Automatic handling of mitigated gaps and memory management ensures your chart remains clean and informative even over extended analysis periods.
Dual-Direction Comprehensive Analysis : Simultaneously tracks both bullish and bearish gaps, providing a complete market structure picture rather than forcing a directional bias.
🔬 How It Works
1. Gap Detection Process :
The indicator examines each candle in relation to previous candles, identifying when a gap forms between the low of candle and high of candle (bearish FVG) or between the high of candle and low of candle (bullish FVG). This specific candle relationship identifies true structural imbalances.
2. Volume Qualification :
For each potential gap, the algorithm calculates the relative volume compared to the configured period average. Only gaps formed with volume exceeding the minimum ratio threshold are displayed, ensuring focus on institutionally significant imbalances.
3. Equilibrium Calculation :
For each qualified gap, the script calculates the precise mathematical midpoint, which becomes the equilibrium line - a key target that price often gravitates toward during mitigation attempts.
4. Mitigation Tracking :
The indicator continuously monitors price action against existing gaps, determining mitigation based on the selected method (wick or close). When price reaches the equilibrium point, the gap is considered mitigated and can be visually updated accordingly.
💡 Note:
Fair Value Gaps represent market inefficiencies that often, but not always, get filled. Use this indicator as part of a complete trading strategy rather than as a standalone system. The most valuable signals typically come from combining FVG analysis with other confirmatory indicators and overall market context. For optimal results, start with the default settings and gradually adjust parameters to match your specific trading timeframe and style.
Priceaction
3 EMAs with Price Action by Sap KarCombines three EMAs with Price Action. Price action visible as GREEN and RED ARROWS below and above bars.
Buy when bars start forming above 9,21 emas GREEN arrows starts forming below bars.
Sell when bars start forming below 9,21 emas RED arrows starts forming above bars.
Sap Kar 3 EMAs + PA; (P)This script plots 3 EMAs and also shows price action in the form of GREEN ARROWS at the bottom of the bars for LONG trades and RED ARROWS @ top of the bars for SHORT TRADE.
Will be useful for trend and momentum following. The input parameters for price action ae
1. No of Bars for price action calculation:- This should be ideally between 3 to 6.
2. Maximum Close % should preferably be above 75 and should always be above 50.
3. Minimum Close % should preferably be below 25 and should always be below 50.
Should buy when above EMAs and green arrows start forming below bars. Should sell when below EMAs and red arrows start forming above bars.
Small Range Stocks (ATR 7)This indicator identifies stocks with a small daily range relative to their ATR(7). It plots a small green tick below candles where the daily range is ≤ 0.9 × ATR(7), helping traders spot consolidation zones for potential breakouts.
Price action plus//The system combines the divergence of A/D and OBV with identifying reversal points using Japanese candlestick patterns, creating an enhanced version of price action. This helps investors more easily and accurately recognize reversal patterns in technical analysis.
Divergence of A/D vs. OBV includes:
Positive divergence: Identifies smart money leaving the market.
Negative divergence: Identifies smart money entering the market.
Reversal candlestick patterns include:
Buy signals: Morning Star, Bullish Engulfing, Hammer.
Strong Buy signals: Buy signals + Negative divergence
Sell signals: Evening Star, Bearish Engulfing, Shooting Star.
Strong Sell signals : Sell signals + Positive divergence
//Hope this system will be helpful for you!
EMA Supertrend StrategyAERVA EMA Supertrend Strategy
Original TradingView Script for Trend-following Strategy with Buy/Sell Signals
This strategy uses a combination of Exponential Moving Averages (EMA), Supertrend, and Fibonacci to identify potential Buy and Sell signals. The strategy focuses on detecting price action with two consecutive green candles crossing above the 200 EMA for a buy signal and two consecutive red candles crossing below the 200 EMA for a sell signal.
Key Components:
50 EMA and 200 EMA: Used to identify the trend and signal potential reversals or continuations.
Supertrend: Helps visualize the trend direction and smooths out price movements.
Fibonacci: Adds an additional layer of confluence for trade entries.
Buy Condition: A buy signal is triggered when two consecutive green candles cross above the 200 EMA.
Sell Condition: A sell signal is triggered when two consecutive red candles cross below the 200 EMA.
Features:
Buy/Sell Signals: Clear visual cues on the chart, with arrows and labels marking the entry points.
Supertrend: Displays green/red trends to help confirm the overall market direction.
Fibonacci: Plotting Fibonacci levels to support your decision-making for potential trade setups.
Risk Management & Backtesting: This script supports backtesting within the TradingView environment, and the strategy includes realistic commission and slippage parameters to reflect more accurate trade results.
The script is designed for traders who want a clear and systematic approach to identifying potential trend-following trade opportunities using a combination of classic technical indicators and price action.
Hashtags:
#AERVA #EMA #Supertrend #TradingStrategy #TechnicalAnalysis #TrendFollowing #BuyAndSellSignals #StockTrading #CryptoTrading #ForexTrading #TradingView #Backtesting #MarketTrends #Fibonacci #TechnicalIndicators #PriceAction #SwingTrading #DayTrading #TradingSystem #CustomStrategy #PineScript
ICT Breakers (BOS / MSS - Market Structure) [ICTProTools]The Breakers (Market Structure) indicator is designed to help traders identify true breaker structures , a key concept in Inner Circle Trader (ICT) methodology. In market structure, Breakers represent powerful shifts where a key high or low is broken, leading to a reversal in market direction. Most tools misinterpret structure shifts, using internal structure , leading to fake breakouts. This tool solves that problem by filtering out false signals , providing clear & structured insights , all with multi-timeframe compatibility.
💎 Key Features
⚡️ Breakers in action
The indicator shows the structure following ICT instructions. A breaker is defined by two lines:
The first line confirms the previous trend (it could be interpreted as a BOS).
The second line highlights the moment price breaks structure (with candle body or wick based on your chosen settings), signaling a shift in trend direction (like an MSS).
Furthermore, it’s important to note that a breaker not only shows the structure, but also defines a potential Point of Interest (POI), an area where price may retrace before continuing its trend.
Here, we can observe two clear structure shifts.
On the far left, the market was in a bearish trend, illustrated by the first visible (dotted and red) line. Shortly after, the second (solid and green) line appears, showing a break that initiates a new bullish trend.
This upward movement continues, with the last confirmation marked by a top structure line. And finally, the structure is broken once again indicating a transition back into a bearish trend.
💪 Real Structure with True Highs / Lows
Unlike many indicators that detect internal breakouts , this tool follows ICT’s true market structure rules .
In a bearish trend , a bullish breaker is only confirmed when the high that created the low is broken , and conversely for a bullish scenario.
Fake breakouts are ignored, preventing misleading signals.
In the image above, the white breakout is correctly ignored by the indicator, as it doesn't align with ICT’s structural rules. That white high is simply part of the internal structure, not the true swing point. Instead, the green line highlights the key level that truly matters, the one whose rupture would have confirmed a real change in market structure.
🔔 Smart Alerts for Structure Updates
Stay one step ahead with customizable alerts designed to notify you instantly when market structure changes occur.
Get notified for BOS (Continuation) and / or MSS (Breaker) events.
Set alerts for bullish , bearish , or both directions.
Choose between once or repeated alerts , based on your strategy.
This feature allows traders to remain focused and reactive , even when monitoring multiple markets.
In the alert settings, select which structure shifts you want to be notified of. Whether you're a scalper or a swing trader, the alerts keep you connected to key moments without needing to constantly monitor the chart.
⏳ Multi-Timeframe Structure
All features of the indicator are fully compatible with higher timeframes .
Get a broader view of market structure without switching timeframes.
Monitor higher timeframe structures and receive alerts, all without leaving your analysis chart .
In this example, the market structure of the 30m timeframe is displayed while on a 5m chart, providing a clearer perspective.
✨ Customization & User Control
Make it yours! The indicator allows full customization:
Swing bars (to confirm high / low)
Select your mode for Breakers (MSS) , using the candle body only or body / wick
Line style (type, width, color)
Choice of displayed timeframe
Activate any alert , with the frequency you want
🎯 Conclusion
✅ Avoid false signals by focusing on true ICT Breakers
✅ Smart alerts to never miss a structural shift
✅ Multi-timeframe support for enhanced analysis
✅ Clean & professional design for an optimal trading experience
Hourly Volatility Explorer📊 Hourly Volatility Explorer: Master The Market's Pulse
Unlock the hidden rhythms of price action with this sophisticated volatility analysis tool. The Hourly Volatility Explorer reveals the most potent trading hours across multiple time zones, giving you a strategic edge in timing your trades.
🌟 Key Features:
⏰ Multi-Timezone Analysis
• GMT (UTC+0)
• EST (UTC-5) - New York
• BST (UTC+1) - London
• JST (UTC+9) - Tokyo
• AEST (UTC+10) - Sydney
Perfect for tracking major market sessions and their overlaps!
📈 Dynamic Visualization
• Color-gradient hourly bars for instant pattern recognition
• Real-time volatility comparison
• Interactive data table with comprehensive statistics
• Automatic highlighting of peak volatility periods
🎯 Strategic Applications:
Day Trading:
• Identify optimal trading windows
• Avoid low-liquidity periods
• Capitalize on session overlaps
• Fine-tune entry/exit timing
Risk Management:
• Set appropriate stop losses based on hourly volatility
• Adjust position sizes for different market hours
• Optimize risk-reward ratios
• Plan around high-impact hours
Global Market Analysis:
• Track volatility across all major sessions
• Spot institutional trading patterns
• Identify quiet vs. active periods
• Monitor 24/7 market dynamics
💡 Perfect For:
• Forex traders navigating global sessions
• Crypto traders in 24/7 markets
• Day traders optimizing execution times
• Algorithmic traders fine-tuning strategies
• Risk managers calibrating exposure
📊 Advanced Features:
• Rolling 3-month analysis for reliable patterns
• Precise pip movement calculations
• Sample size tracking for statistical validity
• Real-time current hour comparison
• Color-coded visual system for instant insights
⚡ Pro Trading Tips:
• Use during major session overlaps for maximum opportunity
• Compare patterns across different instruments
• Combine with volume analysis for deeper insights
• Track seasonal variations in hourly patterns
• Build trading schedules around peak hours
🎓 Educational Value:
• Understand market microstructure
• Learn global market dynamics
• Master timezone relationships
• Develop timing intuition
🛠️ Customization:
• Adjustable lookback period
• Flexible pip multiplier
• Multiple timezone options
• Visual preference settings
Whether you're scalping the 1-minute chart or managing longer-term positions, the Hourly Volatility Explorer provides the precise timing intelligence needed for today's global markets.
Transform your trading schedule from guesswork to science. Know exactly when markets move, why they move, and how to position yourself for maximum opportunity.
#TechnicalAnalysis #Trading #Volatility #MarketTiming #DayTrading #Forex #Crypto #TradingView #PineScript #MarketAnalysis #TradingStrategy #RiskManagement #GlobalMarkets #FinancialMarkets #TradingTools #MarketStructure #PriceAction #Scalping #SwingTrading #AlgoTrading
High and Low in a Given Date/Time RangeThis Pine Script v5 indicator plots horizontal lines at both the highest and lowest price levels reached within a user-defined date/time range.
Description:
Inputs:
The user specifies a start and an end date/time by providing the year, month, day, hour, and minute for each. These inputs are converted into timestamps based on the chart’s timezone.
How It Works:
Timestamp Conversion: The script converts the provided start and end dates/times into timestamps using the chart’s timezone.
Bar Check: It examines every bar and checks if the bar’s timestamp falls between the start and end timestamps.
Price Updates:
If a bar’s time is within the specified range, the indicator updates the highest price if the current bar's high exceeds the previously recorded high, and it updates the lowest price if the current bar's low is lower than the previously recorded low.
Drawing Lines:
A red horizontal line is drawn at the highest price, and a green horizontal line is drawn at the lowest price. Both lines start from the first bar in the range and extend dynamically to the current bar, updating as new high or low values are reached.
End of Range: Once a bar's time exceeds the end timestamp, the lines stop updating.
This tool offers a clear and straightforward way to monitor key price levels during a defined period without any extra fluff.
Diamond PatternDiamond Pattern Indicator
This indicator is designed to detect the Diamond Pattern, a technical formation that often signals potential trend reversals. The diamond pattern can lead to strong price movements, making it a valuable tool for traders.
Features:
✅ Automatic Detection – Identifies diamond patterns on the chart.
✅ Trend Reversal Signals – Highlights potential price direction changes.
✅ Multi-Timeframe Compatibility – Works across all timeframes.
✅ User-Friendly – Simple to use with no complex settings required.
How to Use:
1. Add the indicator to your chart.
2. Monitor for the formation of a Diamond Pattern.
3. Use the breakout direction to guide your trading decisions.
Higher Timeframe Support/ResistanceMulti-Timeframe Support/Resistance Indicator
This TradingView indicator helps you monitor important support and resistance levels based on the previous candle’s high, low, and close from a higher timeframe. By default, it uses a daily timeframe, but you can adjust this to any timeframe you want.
Key Features:
- Previous Candle High (PCH) and Previous Candle Low (PCL):
These levels are plotted on your chart (if enabled) and can act as potential support and
resistance zones. You can toggle the visibility of these levels.
- Pivot, Resistance (R1), and Support (S1):
The script calculates Pivot, R1 (Resistance), and S1 (Support) levels based on the previous
candle's price action from the selected higher timeframe.
These levels are displayed on your chart and can be used to identify potential breakout or
reversal points.
- Alert Feature:
Alerts are triggered when the price approaches any of these key levels (PCH, PCL, Pivot, R1,
or S1) within a specified threshold (e.g., 0.5%).
This helps traders react quickly to potential price movements near critical levels.
- Visual Representation:
The script visually fills the areas between Pivot and R1 (Resistance-Pivot Zone) and Pivot and
S1 (Support-Pivot Zone) with color for easy identification of key price zones.
Zen ABR### **Average Bar Range (ABR) Levels** – A Simple Yet Powerful Scalping Tool
The **ABR Levels** indicator dynamically calculates the **average bar range** and plots three key levels on your chart:
✅ **0.5x ABR** – Half the average bar range
✅ **1x ABR** – The full average bar range
✅ **2x ABR** – Double the average bar range
This provides an **instant volatility gauge**, helping traders adjust position size, stop losses, and targets **based on current market conditions** rather than arbitrary numbers.
### **How It Works**
- The indicator calculates **the average range of the last 8 bars** (default setting, adjustable).
- The **ABR levels update in real time**, appearing in the **top-right corner of your chart** for easy reference.
- Works across **any instrument and timeframe** – great for scalpers and intraday traders.
### **Why Use ABR Levels?**
🚀 **Avoid oversized losses** – Trade dynamically instead of using fixed stops and targets.
📉 **Recognize shifts in market conditions** – Identify when volatility is expanding or contracting.
🎯 **Refine your entries & exits** – Use ABR levels to **scale** your positions intelligently.
### **Pro Tip:**
Never enter a trade **aiming for half-R** profits. If a trade goes badly, **you might manage it to break even or half-R**, but aiming for tiny wins will **wreck your long-term edge**.
🔹 **This script is open-source!** If you're not on TradingView, you can copy the code into any AI tool to generate it for your platform. 🚀
Triangle Reversal IndicatorTriangle Reversal Indicator – A Visual Tool for Identifying Reversal Patterns
This indicator is designed to highlight potential trend reversal moments by comparing the current candle with the previous one. It offers a unique approach by focusing on distinct candle patterns rather than generic trend indicators, making it a valuable addition to your trading toolkit.
How It Works:
For a bullish signal, the indicator checks if:
The current candle is bullish (closing higher than it opens) while the previous candle was bearish.
The current candle’s low breaches the previous bearish candle’s low.
The current candle’s close is above the previous bearish candle’s close.
When these conditions are met, a tiny green triangle is plotted below the candle to signal a potential bullish reversal.
Conversely, for a bearish signal, it verifies if:
The current candle is bearish (closing lower than it opens) following a bullish candle.
The current candle’s high exceeds the previous bullish candle’s high.
The current candle’s close falls below the previous bullish candle’s close.
If all conditions are satisfied, a small red triangle appears above the candle to indicate a potential bearish reversal.
How to Use:
Simply apply the indicator on your chart and look for the tiny triangles that appear above or below the candles. These markers can serve as an additional visual cue when confirming entry or exit points, but it’s best used alongside your other analysis techniques.
Customization Options:
Users can further enhance the script by adding inputs for lookback periods, adjusting the triangle size, or modifying colors to match their chart themes.
+ Stochastic S/R ZonesHey, all. I have a new indicator here that displays zones on your price chart where the stochastic oscillator has moved out of overbought or oversold back into the range of the indicator that is bounded by those two levels.
I know there are many support and resistance indicators on TradingView already, at least a couple of which use the RSI in a similar way as I am using the stochastic here, but I still believe this is a fairly novel interpretation of the stochastic, and it is, in my opinion, a better oscillator than the RSI to be used in this way.
In addition to the zones being plotted on the chart, the indicator also, optionally, can color candles or plot shapes above candles when the 50 line is crossed, so if you want to use this as a simple momentum indicator without desire of having the below chart indicator taking up screen space, you're pretty much covered on the typical signals you might want from it (with the exception of %K / %D crosses, but there are alerts for that).
Visually, it is a simple, clean indicator. There are the zones, and then candle colors or shapes if you opt to add those. These zones are actually drawn from the candle preceding the cross over or cross under. Reason for that is often times the candle of the cross is fairly impulsive and exiting a consolidation. That period of consolidation is what is important to highlight, at least as far as I am concerned. The zones themselves extend until they are broken by a candle. A support zone stops at the candle that closes below its low. Vice versa for a resistance zone.
Usage is fairly simple. All the standard stochastic inputs are available for you to adjust to your heart's content. Additionally, you can choose either the %K or %D line to use as the source from which the zones are drawn, candles are colored, and shapes are plotted. Not sure if this will matter to most people, but I figured it should be made available.
This should be obvious, but I feel it must be said, just because an oscillator (any oscillator) has exited overbought or oversold does not mean that there must be a reversal (or in the case of a trend pullback, continuation). The oscillator can always simply immediately move back into overbought/sold. Just because a support box prints does not mean you should mortgage your house on a long trade. In strong trends, and depending on your oscillator settings, the indicator might draw a box then only a couple of candles later break it, continuing on with the trend. This of course is telling you something, and you would be wise to listen. As with all things trading, context is important.
Here are a few extra screens for you.
I really hope you all like this. It's been ages since I've created anything new, and despite its simplicity and the few lines of code that make it up, it took a lot of work, as I am a poor coder.
Enjoy,
Scott
Heatmap Suite [PhenLabs]📊 Heatmap Suite
Version: PineScript™ v6
📌 Description
The Heatmap Suite is an advanced technical analysis tool that combines multiple density calculation methods with dynamic visualization to identify significant price levels and trading activity zones. It features a sophisticated analysis system that processes price and volume data through various kernel methods, providing traders with insights into market structure, support/resistance zones, and potential price reaction areas.
🚀 Points of Innovation:
Multi-method density calculation incorporating three distinct approaches
Adaptive visualization system with dynamic color gradients
Real-time dashboard with key market metrics
Significant level detection with automatic threshold adjustment
🚨 Important🚨
🔸Comprehensive tooltips included in the PhenLabs dashboard for in depth guidance
🔧 Core Components
Density Analysis: Multiple calculation methods for price distribution assessment
Heat Mapping: Dynamic visualization of price congestion zones
Level Detection: Automatic identification of significant price levels
Dashboard System: Real-time market metrics and analysis
🔥 Key Features
The indicator provides comprehensive analysis through:
Kernel Density: Traditional balanced view of price distribution
Exponential Kernel: Time-weighted analysis emphasizing recent price action
Volume-Weighted: Focus on high-volume price areas
Significant Levels: Automatic detection of important price zones
Heat Distribution: Color-coded visualization of price congestion
🎨 Visualization
Heat Zones: Shows intensity of price activity
Significant Lines: Key level indicators
Color Gradients: Indicates density strength
Dashboard Display: Real-time metrics
Dynamic Opacity: Reflects density intensity
📖 Usage Guidelines
The indicator offers several customization options:
Basic Settings:
Calculation Method: Choose between three density calculation approaches
Lookback Period: Analysis timeframe adjustment
Zone Count: Price range division granularity
Heat Sensitivity: Contrast adjustment for visualization
🎛️ Visual Settings:
Dashboard Size: Text size customization
Position: Dashboard placement options
Color Scheme: Heat map gradient visualization
Level Display: Significant price zone indicators
✅ Best Use Cases:
Identify strong support/resistance zones through high-density areas
Spot potential price reversal zones at significant levels
Analyze price congestion patterns
Monitor real-time changes in market structure
⚠️ Limitations
Requires sufficient historical data
Computational intensity increases with longer lookback periods
Heat sensitivity needs adjustment based on market conditions
Dashboard placement may need adjustment based on price action
💡 What Makes This Unique
Multi-method Analysis: Three distinct calculation approaches
Adaptive Visualization: Dynamic color gradient system
Real-time Metrics: Comprehensive dashboard display
Automatic Level Detection: Significant price zone identification
Memory-efficient Design: Optimized calculation methods
🔬 How It Works
The indicator processes market data through four main components:
1. Density Calculation:
Processes price and volume data
Applies selected kernel method
Generates density distribution
2. Heat Mapping:
Converts density values to color gradients
Updates visualization in real-time
Displays price congestion zones
3. Level Detection:
Identifies significant price levels
Applies threshold filtering
Marks important zones
4. Dashboard Updates:
Calculates real-time metrics
Updates display components
Provides market context
💡Note:
The indicator performs best with adequate historical data and proper sensitivity settings. Its sophisticated density analysis provides valuable insights into market structure beyond traditional support/resistance indicators.
Wick Size in USD with 10-Bar AverageWick Size in USD with 10-Bar Average
Version: 1.0
Author: QCodeTrader
🔍 Overview
This indicator converts the price wicks of your candlestick chart into USD values based on ticks, providing both raw and smoothed data via a 10-bar simple moving average. It helps traders visualize the monetary impact of price extremes, making it easier to assess volatility, potential risk, and plan appropriate stop loss levels.
⚙️ Key Features
Tick-Based Calculation:
Converts wick sizes into ticks (using a fixed tick size of 0.01, typical for stocks) and then into USD using a customizable tick value.
10-Bar Moving Average:
Smooths out the wick values over the last 10 bars, giving you a clearer view of average wick behavior.
Bullish/Bearish Visual Cues:
The chart background automatically highlights bullish candles in green and bearish candles in red for quick visual assessment.
Stop Loss Optimization:
The indicator highlights long wick sizes, which can help you set more accurate stop loss levels. Even when the price moves in your favor, long wicks may indicate potential reversals—allowing you to account for this risk when planning your stop losses.
User-Friendly Customization:
Easily adjust the USD value per tick through the settings to tailor the indicator to your specific instrument.
📊 How It Works
Wick Calculation:
The indicator calculates the upper and lower wicks by measuring the distance between the candle’s high/low and its body (open/close).
Conversion to Ticks & USD:
These wick sizes are first converted from price points to ticks (dividing by a fixed tick size of 0.01) and then multiplied by the user-defined tick value to convert the measurement into USD.
Smoothing Data:
A 10-bar simple moving average is computed for both the upper and lower wick values, providing smoothed data that helps identify trends and deviations.
Visual Representation:
Columns display the raw wick sizes in USD.
Lines indicate the 10-bar moving averages.
Background Color shifts between green (bullish) and red (bearish) based on candle type.
⚡ How to Use
Add the Indicator:
Apply it to your chart to begin visualizing wick sizes in monetary terms.
Customize Settings:
Adjust the Tick Value in USD in the settings to match your instrument’s tick value.
(Note: The tick size is fixed at 0.01, which is standard for many stocks.)
Optimize Your Stop Loss:
Analyze the raw and averaged wick values to understand volatility. Long wicks—even when the price moves in your favor—may indicate potential reversals. This insight can help you set more accurate stop loss levels to protect your gains.
Analyze:
Use the indicator’s data to gauge market volatility and assess the significance of price movements, aiding in more informed trading decisions.
This indicator is perfect for traders looking to understand the impact of extreme price movements in monetary terms, optimize stop loss levels, and effectively manage risk across stocks and other instruments with similar tick structures.
Price Change IndicatorPrice Change Indicator (PCI)
Version: 1.0
Author: LazyTrader 🚀
🔍 Overview
The Price Change Indicator (PCI) helps traders visualize and compare price changes between the current bar and the previous bar. It provides a customizable display of price changes in two formats:
Percentage (%) Change – Relative price movement.
Natural Change – Absolute difference in price units.
⚙️ Key Features
✅ Customizable Calculation Method: Choose how the price change is calculated:
Opening Price
Closing Price
High
Low
✅ Flexible Display Format:
Show Percentage (%) Change.
Show Natural (Absolute) Change in price.
✅ Adjustable Sensitivity with Multiplier:
100 (Standard Change)
1000 (Small Change)
10000 (Tiny Change)
✅ Intuitive Labeling:
Green label (above bar) for increase.
Red label (below bar) for decrease.
No label if no change.
Large, easy-to-read labels for better visibility.
✅ Perfect for Any Market:
Stocks 📈
Forex 💱
Crypto 🚀
Commodities 🛢️
📊 How It Works
The indicator calculates the difference between the current and previous bar’s price based on your chosen method.
The result is displayed as either a percentage (%) or a natural price change.
If the price has increased, a green label is displayed above the bar.
If the price has decreased, a red label is displayed below the bar.
⚡ How to Use
Add the indicator to your chart.
Go to settings and customize:
Select calculation method (Open, Close, High, Low).
Choose display format (% or Natural Change).
Adjust multiplier for more sensitivity.
Analyze the labels to see price movements easily!
🔧 Settings Explained
Setting Description
Price Calculation Method: Choose Open, Close, High, or Low price for comparison.
Display Format: Show either % Change or Natural Change.
Multiplier: Apply 100, 1000, or 10000 to scale small price changes.
Show Labels: Toggle labels on/off.
🎯 Best Use Cases
🔹 Identifying strong price movements
🔹 Spotting trends and momentum shifts
🔹 Comparing price movement intensity
🔹 Works for scalping, swing trading, and long-term analysis
Plot Closed Candles OnlyWhat It Does:
This indicator helps you see candlesticks on your chart only after they are fully closed. It colors the candles based on whether they are bullish (green), bearish (red), or neutral (black/Doji). This way, you can focus on confirmed price movements without the distraction of candles that are still forming.
Key Features:
Plots Confirmed Candles: Only shows candles after they are fully formed.
Custom Colors:
Green: Bullish candles (close > open).
Red: Bearish candles (close < open).
Black: Doji candles (close = open).
Easy to Use: Simply add the indicator to your chart.
How to Use:
Add the indicator to your chart.
Turn off the default candles by:
Right-clicking on the chart.
Going to Style > Candles.
Disabling borders, bodies, and wicks for the default candles.
Enjoy a cleaner view of confirmed candles with clear color coding!
Why Use It?:
Helps you focus on confirmed price action.
Makes it easier to spot bullish, bearish, and neutral candles.
Great for traders who want to avoid the noise of incomplete candles.
Son Model ICT [TradingFinder] HTF DOL H1 + Sweep M15 + FVG M1🔵 Introduction
The ICT Son Model setup is a precise trading strategy based on market structure and liquidity, implemented across multiple timeframes. This setup first identifies a liquidity level in the 1-hour (1H) timeframe and then confirms a Market Structure Shift (MSS) in the 5-minute (5M) timeframe to validate the trend. After confirmation, the price forms a new swing in the 5-minute timeframe, absorbing liquidity.
Once this level is broken, traders typically drop to the 30-second (30s) timeframe and enter trades based on a Fair Value Gap (FVG). However, since access to the 30-second timeframe is not available to most traders, we take the entry signal directly from the 5-minute timeframe, using the same liquidity zones and confirmed breakouts to execute trades. This approach simplifies execution and makes the strategy accessible to all traders.
This model operates in two setups :
Bullish ICT Son Model and Bearish ICT Son Model. In the bullish setup, liquidity is first accumulated at the lows of the 1-hour timeframe, and after confirming a market structure shift, a long position is initiated. Conversely, in the bearish setup, liquidity is first drawn from higher levels, and upon confirmation of a bearish trend, a short position is executed.
Bullish Setup :
Bearish Setup :
🔵 How to Use
The ICT Son Model setup is designed around liquidity analysis and market structure shifts and can be applied in both bullish and bearish market conditions. The strategy first identifies a liquidity level in the 1-hour (1H) timeframe and then confirms a Market Structure Shift (MSS) in the 5-minute (5M) timeframe.
After this shift, the price forms a new swing, absorbing liquidity. When this level is broken in the 5-minute timeframe, the trader enters based on a Fair Value Gap (FVG). While the ideal entry is in the 30-second (30s) timeframe, due to accessibility constraints, we take entry signals directly from the 5-minute timeframe.
🟣 Bullish Setup
In the Bullish ICT Son Model, the 1-hour timeframe first identifies liquidity at the market lows, where price sweeps this level to absorb liquidity. Then, in the 5-minute timeframe, an MSS confirms the bullish shift.
After confirmation, the price forms a new swing, absorbing liquidity at a higher level. The price then retraces into a Fair Value Gap (FVG) created in the 5-minute timeframe, where the trader enters a long position, placing the stop-loss below the FVG.
🟣 Bearish Setup
In the Bearish ICT Son Model, liquidity at higher market levels is identified in the 1-hour timeframe, where price sweeps these levels to absorb liquidity. Then, in the 5-minute timeframe, an MSS confirms the bearish trend.
After confirmation, the price forms a new swing, absorbing liquidity at a lower level. The price then retraces into a Fair Value Gap (FVG) created in the 5-minute timeframe, where the trader enters a short position, placing the stop-loss above the FVG.
🔵 Settings
Swing period : You can set the swing detection period.
Max Swing Back Method : It is in two modes "All" and "Custom". If it is in "All" mode, it will check all swings, and if it is in "Custom" mode, it will check the swings to the extent you determine.
Max Swing Back : You can set the number of swings that will go back for checking.
FVG Length : Default is 120 Bar.
MSS Length : Default is 80 Bar.
FVG Filter : This refines the number of identified FVG areas based on a specified algorithm to focus on higher quality signals and reduce noise.
Types of FVG filters :
Very Aggressive Filter: Adds a condition where, for an upward FVG, the last candle's highest price must exceed the middle candle's highest price, and for a downward FVG, the last candle's lowest price must be lower than the middle candle's lowest price. This minimally filters out FVGs.
Aggressive Filter: Builds on the Very Aggressive mode by ensuring the middle candle is not too small, filtering out more FVGs.
Defensive Filter: Adds criteria regarding the size and structure of the middle candle, requiring it to have a substantial body and specific polarity conditions, filtering out a significant number of FVGs.
Very Defensive Filter: Further refines filtering by ensuring the first and third candles are not small-bodied doji candles, retaining only the highest quality signals.
🔵 Conclusion
The ICT Son Model setup is a structured and precise method for trade execution based on liquidity analysis and market structure shifts. This strategy first identifies a liquidity level in the 1-hour timeframe and then confirms a trend shift using the 5-minute timeframe.
Trade entries are executed based on Fair Value Gaps (FVGs), which highlight optimal entry points. By applying this model, traders can leverage existing market liquidity to enter high-probability trades. The bullish setup activates when liquidity is swept from market lows and a market structure shift confirms an upward trend, whereas the bearish setup is used when liquidity is drawn from market highs, confirming a downtrend.
This approach enables traders to identify high-probability trade setups with greater precision compared to many other strategies. Additionally, since access to the 30-second timeframe is limited, the strategy remains fully functional in the 5-minute timeframe, making it more practical and accessible for a wider range of traders.
Enhanced Momentum Divergence Radar+ [Alpha Extract]Enhanced Momentum Divergence Radar+
The AE's Enhanced Momentum Divergence Radar+ is designed to detect momentum shifts and divergence patterns, helping traders identify potential trend reversals and continuation points. By normalizing momentum readings and applying divergence detection, it enhances market timing for entries and exits.
🔶 CALCULATION
The indicator calculates normalized momentum using a combination of Detrended Price Oscillator (DPO) and volatility-adjusted smoothing techniques. It highlights overbought and oversold conditions while identifying bullish and bearish divergences.
Core Calculation:
ATR-based volatility adjustment ensures dynamic sensitivity.
DPO is derived from the price minus a simple moving average (SMA) to isolate cyclical movements.
Momentum score is normalized using historical max values for consistent scaling.
Thresholds are dynamically adjusted based on average absolute momentum.
dpo = close - ma
sd = (dpo / volatility) * 100
normalizedSD = sd / maxAbsSD
The momentum score is plotted as a histogram, where:
Green bars indicate strong upward momentum.
Red bars indicate strong downward momentum.
Neutral values fade into gray.
🔶 DETAILS
📊 Visual Features:
Histogram bars dynamically color-coded based on momentum strength.
Threshold bands provide reference points for overbought and oversold levels.
Divergence markers (Bullish/Bearish & Hidden Bullish/Bearish) highlight key reversal signals.
🛠 How Divergences Work:
Bullish Divergence (𝓞𝓢): Price makes a lower low while momentum makes a higher low.
Bearish Divergence (𝓞𝓑): Price makes a higher high while momentum makes a lower high.
Hidden Divergences confirm trend continuations rather than reversals.
📌 Example of Divergence Logic:
bullishDiv = (low == priceLow) and (sd > momentumLow)
bearishDiv = (high == priceHigh) and (sd < momentumHigh)
🔶 EXAMPLES
📍 The chart below illustrates price reacting to momentum divergences, identifying potential tops and bottoms before major price moves.
📌 Example snapshots:
A bullish divergence leading to a reversal in price.
A bearish divergence marking the beginning of a downtrend.
🔶 SETTINGS
🔹 Customization Options:
Lookback Period: Adjusts sensitivity to market cycles.
Smoothing Period: Controls signal clarity.
Color Options: Enables bar coloring based on momentum strength.
Divergence Sensitivity: Choose to display hidden divergences.
Turtle Soup Model [PhenLabs]📊 Turtle Soup Model
Version: PineScript™ v6
Description
The Turtle Soup Model is an innovative technical analysis tool that combines market structure analysis with inter-market comparison and gap detection. Unlike traditional structure indicators, it validates market movements against a comparison symbol (default: ES1!) to identify high-probability trading opportunities. The indicator features a unique “soup pattern” detection system, comprehensive gap analysis, and real-time structure breaks visualization.
Innovation Points:
First indicator to combine structure analysis with gap detection and inter-market validation
Advanced memory management system for efficient long-term analysis
Sophisticated pattern recognition with multi-market confirmation
Real-time structure break detection with comparative validation
🔧 Core Components
Structure Analysis: Advanced pivot detection with inter-market validation
Gap Detection: Sophisticated gap identification and classification system
Inversion Patterns: “Soup pattern” recognition for reversal opportunities
Visual System: Dynamic rendering of structure levels and gaps
Alert Framework: Multi-condition notification system
🚨 Key Features 🚨
The indicator provides comprehensive analysis through:
Structure Levels: Validated support and resistance zones
Gap Patterns: Identification of significant market gaps
Inversion Signals: Detection of potential reversal points
Real-time Comparison: Continuous inter-market analysis
Visual Alerts: Dynamic structure break notifications
📈 Visualization
Structure Lines: Color-coded for highs and lows
Gap Boxes: Visual representation of gap zones
Inversion Patterns: Clear marking of potential reversal points
Comparison Overlay: Inter-market divergence visualization
Alert Indicators: Visual signals for structure breaks
💡Example
📌 Usage Guidelines
The indicator offers multiple customization options:
Structure Settings:
Pivot Period: Adjustable for different market conditions
Comparison Symbol: Customizable reference market
Visual Style: Configurable colors and line widths
Gap Analysis:
Signal Mode: Choice between close and wick-based signals
Box Rendering: Automatic gap zone visualization
Middle Line: Reference point for gap measurements
✅ Best Practices:
🚨Use comparison symbol from related market🚨
Monitor both structure breaks and gap inversions
Combine signals for higher probability trades
Pay attention to inter-market divergences
⚠️ Limitations
Requires comparison symbol data
Performance depends on market correlation
Best suited for liquid markets
What Makes This Unique
Inter-market Validation: Uses comparison symbol for signal confirmation
Gap Integration: Combines structure and gap analysis
Soup Pattern Detection: Identifies specific reversal patterns
Dynamic Structure Management: Automatically updates and removes invalid levels
Memory-Efficient Design: Optimized for long-term chart analysis
🔧 How It Works
The indicator processes market data through three main components:
1. Structure Analysis:
Detects pivot points with comparison validation
Tracks structure levels with array management
Identifies and processes structure breaks
2. Gap Analysis:
Identifies significant market gaps
Processes gap inversions
Manages gap zones visualization
3. Pattern Recognition:
Detects “soup” patterns
Validates with comparison market
Generates structure break signals
💡 Note: The indicator performs best when used with correlated comparison symbols and appropriate timeframe selection. Its unique inter-market validation system provides additional confirmation for traditional structure-based trading strategies.
Draw on Liquidity [PhenLabs]📊 Draw on Liquidity (DOL) Indicator
Version: PineScript™ v6
Description
The Draw on Liquidity (DOL) indicator is an advanced technical analysis tool designed to identify and visualize significant liquidity zones in the market. It combines volume analysis, pivot point detection, and real-time proximity alerts to help traders identify potential support and resistance levels where significant trading activity occurs. The indicator features dual display modes, adaptive volume thresholds, and a comprehensive real-time dashboard.
🔧 Components
• Liquidity Detection: Advanced pivot point analysis with volume validation
• Volume Analysis: Adaptive volume threshold system
• Display Modes: Historical and Current visualization options
• Proximity Detection: Real-time price-to-level distance monitoring
• Visual Dashboard: Dynamic status display with alert system
🚨 Important Dashboard Features 🚨
The dashboard provides real-time information about:
• High Draw Zones: Resistance levels with significant liquidity
• Low Draw Zones: Support levels with high trading activity
• Current Price: Real-time price monitoring
• Active Alerts: Proximity warnings when price approaches liquidity zones
📈 Visualization
• Historical Mode: Displays all past and present liquidity zones
• Current Mode: Shows only active, unhit liquidity levels
• Color-coded lines: Blue for high liquidity, Red for low liquidity
• Dynamic line extension: Updates with price movement
• Alert indicators: Visual signals when price approaches zones
Historical Visualization
Current Visualization
📌 Usage Guidelines
The indicator is highly customizable with several key parameters:
Pivot Settings:
• Shorter lengths (3-7): More frequent zones, suitable for scalping
• Longer lengths (7-15): Major zones, better for swing trading
Volume Analysis:
• Lower multiplier (1.5-2.0): More zones, higher sensitivity
• Higher multiplier (2.0-3.0): Major zones only, reduced noise
✅ Best Practices:
• Start with default settings and adjust based on timeframe
• Use Historical mode for analysis, Current mode for active trading
• Monitor dashboard alerts for potential trade setups
• Combine with trend analysis for better entry/exit points
⚠️ Limitations
• Requires sufficient volume data for accurate analysis
• Performance varies with market volatility
• Historical mode may become visually cluttered on longer timeframes
• Best performance during regular market hours
What Makes This Unique
• Dual Display System: Choose between historical analysis and current trading modes
• Volume-Validated Zones: Only marks levels with significant trading activity
• Real-time Proximity Alerts: Dynamic warnings when approaching liquidity zones
• Adaptive Threshold System: Automatically adjusts to market conditions
• Comprehensive Dashboard: All-in-one view of current market status
🔧 How It Works
The indicator processes market data through three main components:
1. Liquidity Detection (40% weight):
• Identifies pivot points using customizable lookback periods
• Validates levels with volume analysis
• Marks significant zones based on combined criteria
2. Volume Analysis (40% weight):
• Calculates dynamic volume thresholds
• Compares current volume to moving average
• Filters out low-volume noise
3. Proximity Analysis (20% weight):
• Monitors price distance to active zones
• Triggers alerts based on customizable thresholds
• Updates dashboard status in real-time
💡 Note: For optimal results, combine with price action analysis and consider using multiple timeframes for confirmation. The indicator performs best in markets with consistent volume and clear trend structure.
Dragon Harmonic Pattern [TradingFinder] Dragon Detector🔵 Introduction
The Dragon Harmonic Pattern is one of the technical analysis tools that assists traders in identifying Potential Reversal Zones (PRZ). Resembling an "M" or "W" shape, this pattern is recognized in financial markets as a method for predicting bullish and bearish trends. By leveraging precise Fibonacci ratios and measuring price movements, traders can use this pattern to forecast market trends with high accuracy.
The Dragon Harmonic Pattern is built on the XABCD structure, where each point plays a significant role in shaping and forecasting price movements. Point X marks the beginning of the trend, representing the initial price movement. Point A indicates the first retracement, usually falling within the 0.380 to 0.620 range of the XA wave.
Next, point B signals the second retracement, which lies within 0.200 to 0.400 of the AB wave. Point C, acting as the hump of the pattern, is generally located within 0.800 to 1.100 of the XA wave. Finally, point D represents the endpoint of the pattern and the Potential Reversal Zone (PRZ), where the primary price reversal occurs.
In bullish scenarios, the Dragon Pattern indicates a reversal from a downtrend to an uptrend, where prices move upward from point D. Conversely, in bearish scenarios, prices decline after reaching point D. Accurate identification of this pattern through Fibonacci ratio analysis and PRZ examination can significantly increase the success rate of trades, enabling traders to adjust their strategies based on key market levels such as 0.618 or 1.100.
Due to its high accuracy in identifying Potential Reversal Zones (PRZ) and its alignment with Fibonacci ratios, the Dragon Harmonic Pattern is considered one of the most popular tools in technical analysis. Traders can use this pattern to pinpoint entry and exit points with greater confidence while minimizing trading risks.
Bullish :
Bearish :
🔵 How to Use
The Dragon Harmonic Pattern indicator helps traders identify bullish and bearish patterns in the market, allowing them to capitalize on available trading opportunities. By analyzing Fibonacci ratios and the XABCD structure, the indicator highlights Potential Reversal Zones (PRZ).
🟣 Bullish Dragon Pattern
In the Bullish Dragon Pattern, the price transitions from a downtrend to an uptrend after reaching point D. At this stage, points X, A, B, C, and D must be carefully identified.
Fibonacci ratios for these points are as follows: Point A should fall within 0.380 to 0.620 of the XA wave, point B within 0.200 to 0.400 of the AB wave, and point C within 0.800 to 1.100 of the XA wave.
When the price reaches point D, traders should look for bullish signals such as reversal candlesticks or increased trading volume to enter a buy position. The take-profit level can be set near the previous price high or based on the 1.272 Fibonacci ratio of the XA wave, while the stop-loss should be placed slightly below point D.
🟣 Bearish Dragon Pattern
In the Bearish Dragon Pattern, the price shifts from an uptrend to a downtrend after reaching point D. In this pattern, points X, A, B, C, and D must also be identified. Fibonacci ratios for these points are as follows: Point A should fall within 0.380 to 0.620 of the XA wave, point B within 0.200 to 0.400 of the AB wave, and point C within 0.800 to 1.100 of the XA wave.
Upon reaching point D, bearish signals such as reversal candlesticks or decreasing trading volume indicate the opportunity to enter a sell position. The take-profit level can be set near the previous price low or based on the 1.272 Fibonacci ratio of the XA wave, while the stop-loss should be placed slightly above point D.
By combining the Dragon Harmonic Pattern indicator with precise Fibonacci ratio analysis, traders can identify key opportunities while minimizing risks and improving their decision-making in both bullish and bearish market conditions.
🔵 Setting
🟣 Logical Setting
ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition.
Show Valid Forma t: If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern.
Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk.
Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period.
🟣 Genaral Setting
Show : Enter "On" to display the template and "Off" to not display the template.
Color : Enter the desired color to draw the pattern in this parameter.
LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness.
LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries.
🟣 Alert Setting
Alert : On / Off
Message Frequency : This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone : The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
🔵 Conclusion
The Dragon Harmonic Pattern is an advanced and practical technical analysis tool that aids traders in accurately predicting bullish and bearish trends by identifying Potential Reversal Zones (PRZ) and utilizing Fibonacci ratios. Built on the XABCD structure, this pattern stands out for its flexibility and precision in identifying price movements, making it a valuable resource among technical analysts. One of its key advantages is its compatibility with other technical tools such as trendlines, support and resistance levels, and Fibonacci retracements.
By using the Dragon Harmonic Pattern indicator, traders can accurately determine entry and exit points for their trades. The indicator analyzes key Fibonacci ratios—0.380 to 0.620, 0.200 to 0.400, and 0.800 to 1.100—to identify critical levels such as price highs and lows, offering precise trading strategies. In bullish scenarios, traders can profit from rising prices, while in bearish scenarios, they can capitalize on price declines.
In conclusion, the Dragon Harmonic Pattern is a highly reliable tool for identifying trading opportunities with exceptional accuracy. However, for optimal results, it is recommended to combine this pattern with other analytical tools and thoroughly assess market conditions. By utilizing this indicator, traders can reduce their trading risks while achieving higher profitability and confidence in their trading strategies.
