This script is a visual aid for my personal testing of a systematic trading plan. It is designed to help me manually identify and mark key structural components on the chart. The core concepts I am testing are Trading Ranges, Inducement Levels, and Points of Interest (POI), specifically Order Flows and Order Blocks. (On this chart, an Order Flow)
This is a work in progress and represents my personal learning process. It is not intended as financial advice or a complete trading system.
Key Features I am Testing:
Trading Range Identification: The script helps mark the high and low of a defined trading range, which I identify based on a confirmed break of structure or change of character. In this case what is depicted is a change of character from Bearish to Bullish Sentiment on the EURUSD One-Hour Frame.
Inducement Visualization: It allows for the marking of key inducement levels. In my testing, an inducement is the pullback high (in a bearish move) or low (in a bullish move) immediately preceding the most recent significant low or high. A range is considered valid once its corresponding inducement is traded through.
Order Flow/Block Marking: The tool assists in highlighting potential OFs or OBs. These ranges or candles, located near range extremes, are the Points of Interest I test for potential entries.
My Testing Notes & Disclaimer:
This visual tool is part of my journaling process to build discipline and consistency. I use it to document my hypothesis for each trade setup. The market does not always respect these levels, and a key part of my testing is learning to distinguish between valid and invalid POIs.
My risk management rules are separate and non-negotiable. I always define my stop loss and position size before entering any test trade.
I am sharing this as a documentation of my own testing framework, not as a recommendation.
This is a work in progress and represents my personal learning process. It is not intended as financial advice or a complete trading system.
Key Features I am Testing:
Trading Range Identification: The script helps mark the high and low of a defined trading range, which I identify based on a confirmed break of structure or change of character. In this case what is depicted is a change of character from Bearish to Bullish Sentiment on the EURUSD One-Hour Frame.
Inducement Visualization: It allows for the marking of key inducement levels. In my testing, an inducement is the pullback high (in a bearish move) or low (in a bullish move) immediately preceding the most recent significant low or high. A range is considered valid once its corresponding inducement is traded through.
Order Flow/Block Marking: The tool assists in highlighting potential OFs or OBs. These ranges or candles, located near range extremes, are the Points of Interest I test for potential entries.
My Testing Notes & Disclaimer:
This visual tool is part of my journaling process to build discipline and consistency. I use it to document my hypothesis for each trade setup. The market does not always respect these levels, and a key part of my testing is learning to distinguish between valid and invalid POIs.
My risk management rules are separate and non-negotiable. I always define my stop loss and position size before entering any test trade.
I am sharing this as a documentation of my own testing framework, not as a recommendation.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.