4-Hour Trends [Wizard Trends Inc]

The 4-Hour Trends [] indicator is a comprehensive tool designed for intraday and swing traders, providing clear visualization of 4-hour candlestick patterns and important pivot zones. This indicator overlays custom 4-hour candles on your existing chart and highlights bullish and bearish pivot zones as "order blocks," allowing traders to identify critical support and resistance areas with ease.

With adjustable settings, traders can customize the indicator to suit their specific trading styles. Key features include:

4-Hour Candle Visualization: Displays 4-hour candles on any timeframe chart with custom colors for bullish and bearish trends.
Pivot Order Blocks: Automatically identifies bullish and bearish pivot zones and displays them as shaded rectangles for better visual clarity.
Customizable Time Ranges: Allows users to define specific time intervals to monitor price action.
Dynamic Extension of Boxes: Extends pivot zones until price interacts with them or they are invalidated.
Whether you're trading forex, stocks, or crypto, this indicator gives you a significant edge by making higher timeframe trends and key price levels more accessible.

How to Use the Indicator
Adding the Indicator:

Go to the TradingView platform.
Open the chart where you want to apply the indicator.
Search for "4-Hour Trends []" in the Public Library or under your saved indicators.
Click to add it to your chart.
Settings Overview:

Time Range Configuration: Customize the start and end times for your trading sessions using the following inputs:
Start Hour 1 and Start Minute 1: Define the beginning of the first session.
End Hour 1 and End Minute 1: Define the end of the first session.
Pivot Order Blocks:
Enable the identification of bullish and bearish pivot zones.
Customize pivot lengths (Pivot High and Pivot Low) for precise zone calculations.
Choose to calculate zones based on wicks or bodies of candles.
Box Appearance:
Adjust the colors of bullish, bearish, and closed pivot boxes.
Set the width and background transparency of pivot boxes.
Enable or disable the extension of pivot zones until they are invalidated by price action.
4-Hour Candles:
Visualize 4-hour candles with custom colors for bullish and bearish trends, plotted directly on your chart.
Interpreting the Indicator:

4-Hour Candles:
Green candles represent bullish momentum (close > open).
Red candles represent bearish momentum (close < open).
Use the 4-hour candles to identify trends and confirm higher timeframe direction.
Pivot Zones:
Green boxes indicate bullish pivot zones where price may find support.
Red boxes indicate bearish pivot zones where price may find resistance.
Closed pivot zones turn gray, signaling that the zone has been invalidated or fully interacted with.
Practical Application:

Use the pivot zones to identify potential entry and exit points.
Combine with your trading strategy to confirm breakout or reversal setups.
Monitor the interaction of price with pivot zones to gauge market strength.
Customization Tips:

Adjust the pivot lengths (leftLen and rightLen) to refine sensitivity for your trading style.
Modify box colors and transparency to match your chart's aesthetics.
Enable or disable the extension of pivot zones depending on whether you want dynamic or fixed levels.
Additional Notes
This indicator works on all asset classes, including forex, stocks, indices, and crypto.
It is optimized for intraday and swing traders but can also provide valuable insights for scalpers on lower timeframes.
Consider using this indicator in conjunction with other tools, such as moving averages, volume indicators, or RSI, for more accurate signals.
Disclaimer: Past performance does not guarantee future results. Use the indicator in conjunction with your trading strategy and risk management plan.

Disclaimer: This indicator is provided as a tool to enhance learning and understanding of market dynamics and is not intended as a source of financial advice. Trading carries inherent risks, and users should exercise caution and consult a licensed financial advisor before making any trading or investment decisions. Past performance is not indicative of future results. Use this indicator at your own risk. Always perform your own due diligence.

Copyright