2U2DFlipHappy to contribute to the community request for indicators that TheStrat community find useful, I have published the requested 2U/2D flip indicator with built in 'alert' feature.
Adding this indicator to your chart will allow you to use the awesome Tradingview 'alert' functionality to register an alerts when either of these two conditions are true:
- When the candle colour of TheStrat 2U green candle turns RED
- When the candle colour of TheStrat 2D red candle turns GREEN
The significance of this event is an indication that price might have reversed and is more applicable on higher timeframes .
Explanation of 'TheStrat' trading technique
‘TheStrat’ technique works off the basis of labelling whether the focus candle did or did not break any of the previous candles high or low values. There are three possible label definitions; either a 1 candle, 2 candle or a 3 candle.
1 bar (inside) - If price movement on the new candle remains within the high and low of previous candle.
3 bar (outside) – If price movement went above both the high and the low of the previous candle.
2 bar (directional) – If price movement only broke with the high (called a 2-up) or if price movement only broke the low of the previous candle (called a 2-down).
How does the indicator work?
This indicator will allow the user to be alerted when this colour change happens on any ticker and timeframe you have added the indicator to and then register an alert. The key decisions are which TICKER and which TIMEFRAME to register the alert. It will alert for both these conditions within the single alert.
When a registered alert is running it will continually monitor for these conditions and once per bar it will immediately generate the alert notification using the existing built-in TradingView alert feature. This indicator is not market or timeframe specific, in fact this alerting indicator can be used to register alerts on multiple tickers and timeframes simultaneously.
Example of how to use the indicator
Assume you are interested in being alerted for any colour changing candle on AAPL on the 30min timeframe. You would simply go to that chart (APPL on 30 min), add '2U2DFlip' indicator to the chart, then using the built-in TradingView - 'Create Alert' feature to register the alert that will listening to '2U2DFlip' indicator monitored events. In this example the alert will specifically trigger if it finds a 2U candle turning red or a 2D candle turning green and sends the alert allowing you to jump to the chart to review.
Description of the script
The script defines two conditions that incorporate the specific definition of TheStrat 2U and 2D candles, meaning, that in relation to the previous candle it only 'broke' one side of the previous candle and then adds another condition that monitors if the colour changes (close > open) of the current candle.
How is this useful to a trader?
The 2U and 2D candles are known as 'directional' candles in TheStrat community so the fact that a directional candle has 'changed' direction is a significant indication of a reversal. When this event happens a trader would be notified and is in a position to determine if a reversal play might be in order.
Note to moderators
This code is my own code, based on my other popular indicators. It encompasses the definitions of TheStrat community and trading style and was requested by the community users that trade using TheStrat technique. The reason for the source being protected is that it contains my own method of defining TheStrat and source code of my paid indicator.
Good Luck with trading and I hope this indicator helps to increase the profitability of your portfolio. Happy Trading.
Thestratteach
FTFC Watchlist (The Strat)This indicator is a five custom ticker watchlist that shows seven pre-defined higher timeframes using '#TheStrat' technique and can be used on any ticker from common stock, forex and crypto.
Explanation of 'TheStrat' trading technique
‘TheStrat’ technique works off the basis of labelling whether the focus candle did or did not break any of the previous candles high or low values. There are three possible label definitions; either a 1 candle, 2 candle or a 3 candle.
1 bar (inside) - If price movement on the new candle remains within the high and low of previous candle.
3 bar (outside) – If price movement went above both the high and the low of the previous candle.
2 bar (directional) – If price movement only broke with the high (called a 2-up) or if price movement only broke the low of the previous candle (called a 2-down).
Once labelled the technique then looks for certain combination of these labelled candles (called actionable setups) such as: 2-1-2, 1-2-2, 3-1-2.
What is Full Time Frame Continuity (FTFC)
Under 'The Strat' full timeframe continuity is limited to the colour (open vs close) of the candle being either green or red. When higher timeframe align with the 'same colour' is suggest that there is stronger support for that direction of the candle.
How does the indicator work?
The indicator will allow you to daily enter up to 5 watchlist tickers and in as close to real time (slight lag) show the developing FTFC of your watchlist tickers and avoids having to switch chart tickers to see the developing timeframe continuity
Example of how to use the indicator
A simple example will be the relationship between SPY and VIX and by having the higher timeframe overview of these two watchlist tickers while trading will give potential insights to how the market is trading overall.
Some people might also find it useful to see 'consolidation' (1 bar) and 'expansion' (3 bar) highlighted in the timeframe. This feature can be enabled in the settings.
Indicator caveats:
= Must run on 5min (or lower) chart timeframe. If not indicator will produce 'runtime error'.
= Weekly computation is not 100% reliable due to bug in TV when a month end occurs mid week.
= Please change the indicator colour if used on a non-dark theme.
= Please note this information is only presented for educational and learning purposes. It is by no means financial advice or provide any form of trading signals.
TO ENABLE , please follow these steps:
1) Add indicator to your chart and open settings
2) Enter which tickers (max 5) you wish to add to your watchlist by enabling the checkbox
3) Decide on the timeframes you wish to view
4) Configure the colouring of the watchlist.
Hope this indicator provides useful and educational information and helps to improve your overall access to information.
TheStrat AlertsFinally, an indicator that will monitor and send notification for any potential 'TheStrat' candle combination setups.
Explanation of 'TheStrat' trading technique
‘ TheStrat ’ technique works off the basis of labelling whether the focus candle did or did not break any of the previous candles high or low values. There are three possible label definitions; either a 1 candle, 2 candle or a 3 candle.
1 bar (inside) - If price movement on the new candle remains within the high and low of previous candle.
3 bar (outside) – If price movement went above both the high and the low of the previous candle.
2 bar (directional) – If price movement only broke with the high (called a 2-up) or if price movement only broke the low of the previous candle (called a 2-down).
Once labelled the technique then looks for certain combination of these labelled candles (called actionable setups) such as: 2-1-2, 1-2-2, 3-1-2.
How does the indicator work?
This indicator will monitor and alert you when a possible ‘ TheStrat ’ actionable combination is identified on any ticker and timeframe you add the indicator to and then register an alert. The key decisions are which TICKER and which TIMEFRAME to register the alert and lastly what actionable ‘ TheStrat ’ combination to enable in the indicator settings.
When a registered alert is running it will continually monitor for the enabled ' TheStrat ' conditions and upon the bar close of a defined condition, it generates the alert notification using the existing built-in TradingView alert feature. This indicator is not market or timeframe specific, in fact this alerting indicator can be used to register alerts on multiple tickers and timeframes simultaneously.
Example of how to use the indicator
Assume you are interested in being alerted for any ‘2-1-2’ combination on AAPL on the 30min timeframe. You would simply go to that chart (APPL on 30 min), add ' TheStrat Alerts ' indicator to the chart. Ensure the 2-1-x condition is enabled in the indicator setting. Then using the built-in TradingView - 'Create Alert' feature to register the alert that will listening to 'TheStrat Alerts' indicator monitored events. In this example the alert will specifically trigger if it finds a 2-1 bar setup and send the alert of a possible 2-1-2 setup allowing you to jump to the chart to review.
Description of the script
The script work by monitoring the development of new candles and when it finds a potential developing combination it will generate an alert prior to the completion of the actionable signal.
The following 'TheStrat' combinations have been coded.
2-1-? candle setup (expect 2-1-2)
3-1-? candle setup (expect 3-1-2)
1-2-? candle setup (expect 1-2-2 rev)
3-2-? candle setup (expect 3-2-2 rev)
2d-2d-? or 2u-2u-? (expect 2-2 rev)
"Randy Jackson" 2u-2u-2d-? or 2d-2d-2u-? candle setup
5 consecutive 2u or 5 consecutive 2d "Pivot Machine Gun" candle setup
50% retracement after a 2u
50% retracement after a 2d
Failed 2u - candle that closed red, instead of green
Failed 2d - candle that closed green, instead of red.
1-3 "Nirvana" candle setup
1 candle and 3 candle formation
How is this useful to a trader?
This unequivocally original and useful indicator relieves the need to sit and monitor all the tickers and timeframes you can simply place the alert indicator, enable the conditions under which you wish to be alerted and let it monitor for you.
The clear value of the indicator is the increased ability to find potential setups to trade when certain conditions have been identified.
TO ENABLE, please follow these steps:
1) Add indicator to your TICKER choice and TIMEFRAME of your choice.
2) Open the indicator options/settings (cog wheel of indicator) and select the checkboxes to enable which conditions you want to be alerted on. Start off with a few specific setups to get the hang of the indicator. Then OK the indicator setting window to close it.
3) Next find along the of the screen the 'Create Alert' icon (watch icon with + symbol). Click it will open the ' Create Alert ' settings.
4) For CONDITION , drop down and select ' TheStrat Alerts ' so that the alert will listen for the alerts you selected in the indicator settings.
5) Expand 'More options' to select notification preference like pop-up, sound or email
6) Finally click on ' CREATE ' to register the alerts
The indicator will now generate alerts for the options you enabled in the indicator. Please delete and re-register the alert if you changed any settings in the indicator, for example a different condition.
This indicator is not merging multiple indicators as it uses only the default TradingView alert functionality, and the source code is based on my other highly successful free indicator. The indicator does not infer future performance but does notify of the potential actionable ' TheStrat ' setup prior to the completion of the ' TheStrat ' combination. It is also an independent and standalone indicator and does not rely on any of my other published indicators.
This is a paid private invite-only indicator, if you want a trial, please contact me by sending a private message through TradingView.
Good Luck with trading and I hope this indicator helps to increase the profitability of your portfolio. Happy Trading.
TheStrat Teach V2This indicator was coded to help me see, learn and trade TheStrat. Please share with the wider community and good luck trading. See my profile signature for contact details or questions.
// BAR NUMBERS
Using the 1, 2, 3 numbering system on the chart allows you to quickly see various combinations.
- Possibility to up/down ARROWS or the “U/D” text
- Decide which number to show and the colour
- Position and colouring are editable of numbers and bars (1, 2, 3)
- Limited to the last 100 candles for performance.
// TARGET LINES
Add target HIGH and LOW lines with custom timeframe option (default D and previous candle) to identify the target lines for long and short move.
- Possible to reposition target candle focus to previous or current candle
- Added the 50% line for visual reference or use in 0.5 retracement
- Also, possible to show both bull/bears 0.618 lines
- Ability to change all line colours and style
//HIGHER TIME FRAME
Four custom time frames can be selected to show their timeframe HIGH/LOW on lower timeframes which allows you to keep track of important price ranges on higher timeframes.
- Default to M, W, D, 1 hour including pricing labels on each HIGH/LOW line
- Able to change all line colours and styles
// TheSTRAT patterns
Once enabled it shows the various patterns historically for learning purposes to help identify the various #TheSTRAT combo or for to back test patterns.
- Patterns: 2-1-2/1-2-2/3-2-2/3-1-2/2-2-2 Randy Jackson/3-2/2-2/1-3/3-1/Pivot MG
- Added Hammers and Shooters labels
//ALERTS
Added alert conditions to setup alerts on target H/L lines and all four custom H/L lines.
- Triggers when price movement crosses above the HIGH line
- Triggers when price movement crosses below the LOW line
// INFO PANEL
The info panel is a summary information area to show Full Time Frame Continuity (FTFC) and suggests possible actionable setup on the current chart. It is possible to disable sections.
ATR(D) : shows the daily movement potential of the stock over the last 14 days
Num # : Take the percentage drawdown of portfolio size amount divided by the current stock price (15% of 5000 = 750 drawdown max)
Risk $lg : Stop loss risk amount long - shows price difference between the current candle low and previous candle low, assuming you use this for your stop loss x Num #
Risk $lg : Stop loss risk amount short - shows price difference between the current candle low and previous candle low, assuming you use this for your stop loss x Num #
H/4H/D/W/M : Full Time Continuity (FTC) to see if open is above (green) or below (red) close of current candle in that time frame
Actionable? : Suggest if current view have a possible #TheStrat actionable combo
