Immediate Rebalance ICT [TradingFinder] No Imbalances - MTF Gaps🔵 Introduction
The concept of "Immediate Rebalance" in technical analysis is a powerful and advanced strategy within the ICT (Inner Circle Trader) framework, widely used to identify key market levels.
Unlike the "Fair Value Gap," which leaves a price gap requiring a retracement for a fill, an Immediate Rebalance fills the gap immediately, representing an instant balance that strengthens the prevailing market trend. This structure allows traders to quickly spot critical price zones, capitalizing on strong trend continuations without the need for price retracement.
The "Immediate Rebalance ICT" indicator leverages this concept, providing traders with automated identification of critical supply and demand zones, order blocks, liquidity voids, and key buy-side and sell-side liquidity levels.
Through features like crucial liquidity points and immediate rebalancing areas, this tool enables traders to perform precise real-time market analysis and seize profitable opportunities.
🔵 How to Use
The Immediate Rebalance indicator assists traders in identifying reliable trading signals by detecting and analyzing Immediate Rebalance zones. By focusing on supply and demand areas, the indicator pinpoints optimal entry and exit positions.
Here’s how to use the indicator in both bearish (Supply Immediate Rebalance) and bullish (Demand Immediate Rebalance) structures :
🟣 Bullish Structure (Demand Immediate Rebalance)
In a bullish scenario, the indicator detects a Demand Immediate Rebalance formed by two consecutive bullish candles with overlapping wicks. This structure signifies an immediate demand zone, where price instantly balances within the zone, reducing the likelihood of a revisit and indicating potential upside momentum.
Zone Identification : Look for two consecutive bullish candles with overlapping wicks, forming a demand zone. This structure, due to its rapid balance, usually does not require a revisit and supports further upward movement.
Entry and Exit Levels : If price revisits this zone, percentage markers, particularly 50% and 75%, act as supportive levels, creating ideal entry points for long positions.
Example : In the second image, an example of a Demand Immediate Rebalance is shown, where overlapping bullish candle shadows indicate immediate balance, supporting the continuation of the bullish trend.
🟣 Bearish Structure (Supply Immediate Rebalance)
In a bearish setup, the indicator identifies a Supply Immediate Rebalance when two consecutive bearish candles with overlapping wicks appear. This formation signals an immediate supply zone, suggesting a high probability of trend continuation to the downside, with minimal expectation for price to retrace back to this area.
Zone Identificatio n: Look for two consecutive bearish candles with overlapping shadows. This structure forms a supply area where price is expected to continue its downtrend without revisiting the zone.
Entry and Exit Level s: Should price revisit this zone, percentage-based levels (e.g., 50% and 75%) serve as potential resistance points, optimizing entry for short positions, especially if the downtrend is expected to persist.
Example : The attached chart illustrates a Supply Immediate Rebalance, where overlapping candle shadows define this area, reassuring traders of a continued downward trend with a low likelihood of price returning to this zone.
🔵 Settings
ImmR Filter : This filter allows users to adjust the detection of Immediate Rebalance zones in four modes, from "Very Aggressive" to "Very Defensive," based on zone width. The chosen mode controls the sensitivity of Immediate Rebalance detection, allowing users to fine-tune the indicator to their trading style.
Multi Time Frame : Enabling this option allows users to set the indicator to a specific timeframe (1 minute, 5 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, daily, weekly, or monthly), broadening the perspective for identifying Immediate Rebalance zones across multiple timeframes.
🔵 Conclusion
The Immediate Rebalance indicator, based on rapid balancing zones within supply and demand areas, serves as a powerful tool for market analysis and improving trade decision-making.
By accurately identifying zones where price achieves instant balance without gaps, the indicator highlights areas likely to support strong trend continuations, exempt from common retracements.
The indicator’s use of percentage levels enables traders to pinpoint optimal entry and exit points more effectively, with levels like 50% and 75% acting as support within demand zones and resistance within supply zones. This empowers traders to ride strong trends without the worry of abrupt reversals.
Overall, the Immediate Rebalance is a reliable tool for both professional and beginner traders seeking precise methods to recognize supply and demand zones, capitalizing on consistent trends.
By choosing appropriate settings and focusing on the zones highlighted by this indicator, traders can enter trades with greater confidence and improve their risk management.
#pattern
Cypher Harmonic Pattern [TradingFinder] Cypher Pattern Detector🔵 Introduction
The Cypher Pattern is one of the most accurate and advanced harmonic patterns, introduced by Darren Oglesbee. The Cypher pattern, utilizing Fibonacci ratios and geometric price analysis, helps traders identify price reversal points with high precision. This pattern consists of five key points (X, A, B, C, and D), each playing an important role in determining entry and exit points in the financial markets.
The reversal point typically occurs in the XD region, with the Fibonacci ratio ranging between 0.768 and 0.886. This zone is referred to as the Potential Reversal Zone (PRZ), where traders anticipate price changes to occur.
The Cypher harmonic pattern is popular among professional traders due to its high accuracy in identifying market trends and reversal points. The pattern appears in two forms: bullish Cypher pattern and bearish Cypher pattern.
In the bullish Cypher pattern, after a price correction, the price moves upward, while in the bearish Cypher pattern, the price moves downward after a temporary increase. These patterns help traders use technical analysis to identify strong reversal points in the PRZ and execute more optimal trades.
Bullish Cypher Pattern :
Bearish Cypher Pattern :
🔵 How to Use
The Cypher pattern is one of the most complex and precise harmonic patterns, leveraging Fibonacci ratios to help traders identify price reversals. This pattern is comprised of five key points, each playing a critical role in determining entry and exit points.
The Cypher pattern appears in two main types :
Bullish Cypher pattern : This pattern appears as an M shape on the chart and indicates a trend reversal to the upside after a price correction. Traders can prepare for buying after identifying this pattern in technical analysis.
Bearish Cypher pattern : This pattern appears as a W shape and signals the start of a downtrend after a temporary price increase. Traders can use this pattern to enter short positions.
🟣 How to Identify the Cypher Pattern on a Chart
Identifying the Cypher pattern requires precision and the use of advanced technical analysis tools. The pattern consists of four main legs, each identified using Fibonacci ratios and geometric analysis.
To spot the Cypher pattern on a chart, first, identify the five key points : X, A, B, C, and D.
XA leg : The initial move from point X to A.
AB leg : The first correction after the XA move, where the price moves to point B.
BC leg : After the correction, the price moves upwards to point C.
CD leg : The final price move that reaches point D, where a price reversal is expected.
In a bullish Cypher pattern, point D indicates the start of a new uptrend, while in a bearish Cypher pattern, point D signals the beginning of a downtrend. Correctly identifying these points helps traders determine the best time to enter a trade.
🟣 How to Trade Using the Cypher Pattern
Once the Cypher pattern is identified on the chart, traders can use it to set entry and exit points. Point D is the key point for trade entry. In the bullish Cypher pattern, the trader can enter a long position after point D forms, while in the bearish Cypher pattern, point D serves as the ideal point for entering a short position.
🟣 Entering a Buy Trade with the Bullish Cypher Pattern
In a bullish Cypher pattern, traders wait for the price to reach point D, after which they can enter a buy position. At this point, the price is expected to start rising.
🟣 Entering a Sell Trade with the Bearish Cypher Pattern
In a bearish Cypher pattern, the trader enters a sell position at point D, expecting the price to move downward after reaching this point. For additional confirmation, traders can use technical indicators such as RSI or MACD.
🟣 Risk Management in Cypher Pattern Trades
Risk management is one of the most critical aspects of any trade, and this holds true for trading the Cypher pattern. Traders should always use stop-loss orders to prevent larger losses in case the pattern fails.
In the bullish Cypher pattern, the stop-loss is usually placed slightly below point D to exit the trade if the price continues to drop.
In the bearish Cypher pattern, the stop-loss is placed above point D to limit losses if the price rises unexpectedly.
🟣 Combining the Cypher Pattern with Other Technical Tools
The Cypher pattern is a powerful tool in technical analysis, but combining it with other methods such as price action and technical indicators can improve trading accuracy.
🟣 Combining with Price Action
Traders can use price action to confirm the Cypher pattern. Candlestick patterns like reversal candlesticks can provide additional confirmation for price reversals at point D.
🟣 Using Technical Indicators
Incorporating technical indicators such as RSI and MACD can also help traders receive stronger signals for entering trades based on the Cypher pattern. These indicators help identify overbought or oversold conditions, allowing traders to make more informed decisions.
🟣 Advantages and Disadvantages of the Cypher Pattern in Technical Analysis
Advantages :
High accuracy : The Cypher pattern, using Fibonacci ratios and geometric analysis, provides high precision in identifying reversal points.
Applicable in various markets : This pattern can be used in a wide range of financial markets, including forex, stocks, and cryptocurrencies.
Disadvantages :
Rarit y: The Cypher pattern appears less frequently on charts compared to other harmonic patterns.
Complexity : Accurately identifying this pattern requires significant experience, which may be challenging for novice traders.
🔵 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 Cypher harmonic pattern is one of the most powerful and accurate patterns used in technical analysis. Its high precision in identifying price reversal points, particularly within the Potential Reversal Zone (PRZ), has made it a popular tool among professional traders. The PRZ, located between the Fibonacci ratios of 0.768 and 0.886 in the XD region, offers traders a clear indication of where price reversals are likely to occur.
However, to use this pattern successfully, traders must employ proper risk management and combine it with supplementary tools like technical indicators and price action. By understanding how to utilize the PRZ, traders can enhance the accuracy of their trade entries and exits.
Ultimately, the Cypher pattern, when used in conjunction with the PRZ, helps traders make more precise decisions in the financial markets, leading to more successful and well-informed trades.
Birdies [LuxAlgo]The Birdies indicator uses a unique technique to provide support/resistance curves based on a circle connecting the last swing high/low.
A specific, customizable part of this circle acts as a curve of interest, which can trigger visual breakout signals.
🔶 USAGE
The script projects a bird-like pattern when a valid Swing point is found. Multiple customization options are included.
🔹 Trend & Support/Resistance Tool
The color fill patterns and the wing boundaries can give insights into the current trend direction as well as serve as potential support/resistance areas.
In the example above, "Birdies" coincide with pullback and support/resistance zones.
🔹 Swing Length & Buffer
Besides the "Swing Length", with higher values returning longer-term Swing Levels, the script's behavior can be fine-tuned with filters ("Settings" - "Validation").
🔹 Validation
To minimize clutter, three filters are included:
Minimum X-Distance: The minimum amount of bars between subsequent Swings
Minimum Y-Distance: The minimum amount of bars between subsequent Swings
Buffer (Multiple of ATR)
The "Minimum X/Y-Distance" creates a zone where a new Swing is considered invalid. Only when the Swing is out of the zone, can it be considered valid.
In other words, in the example above, a Swing High can only be valid when enough bars/time have passed, and the difference between the last Swing and the previous is more than the ATR multiplied by the "Minimum Y-Distance" factor.
The "Buffer" creates a line above/below the "Birdy", derived from the measured ATR at the conception of the "Birdy" multiplied with a factor ("Buffer").
When the closing price crosses the "Birdy", it must also surpass this buffer line to produce a valid signal, lowering the risk of clutter as a result.
🔶 DETAILS
Birdies are derived from a circle that connects two Swing points. The left-wing curve originates from the most recent "Swing point" to the last value on the circle before crossing its midline. The mirror image of the left wing creates the right wing.
Enabling "Origine" will draw a line from the last Swing to the first.
🔹 Style
The publication includes a style setting with four options.
The first, "Birdy," shows a bird-like shape derived from a circle connecting the last Swing High and Swing Low.
The second option holds everything from the first option but connects both wingtips, providing potential horizontal levels of interest.
When setting "Birdy" to "None", the visual breakout signals will not defer from previous settings, but the focus is shifted towards the fill color, which can help detect potential trend shift.
A fourth setting, "Left Wing", will only show the left part of the "Birdy" pattern, removing the right part from the equation. This will change the visual breakout signals, providing alternative signals.
🔶 SETTINGS
Swing Length: The period used for swing detection, with higher values returning longer-term Swing Levels.
🔹 Validation
Minimum X-Distance: The minimum amount of bars between subsequent Swings
Minimum Y-Distance: The minimum amount of bars between subsequent Swings
Buffer (Multiple of ATR)
🔹 Style
Bullish Patterns: Enable / color
Bearish Patterns: Enable / color
Buffer Zone: Show / Color
Color Fill: Show color fill between two Birdies (if available)
Origine: Show the line between both Swing Points
🔹 Calculation
Calculated Bars: Allows the usage of fewer bars for performance/speed improvement
Deep Crab Harmonic Pattern [TradingFinder] Reversal Zones🔵 Introduction
The Deep Crab pattern is a 5-point extension harmonic structure (X-A-B-C-D) used in technical analysis to identify potential reversal points in financial markets. Like the original Crab pattern, it heavily relies on a 1.618 XA projection to form the Potential Reversal Zone (PRZ).
However, the key difference lies in the B point, which must be an 0.886 retracement of the XA leg. The D point in this pattern typically extends beyond the X point, signaling a strong potential reversal in price movement.
Bullish Deep Crab :
The Bullish Deep Crab is a pattern used in technical analysis to spot potential trend reversals. It signals a shift from a downtrend to an uptrend. Traders enter a buy position at the D point and set a stop-loss below point X, anticipating a price increase.
Bearish Deep Crab :
The Bearish Deep Crab is a reversal pattern that indicates the potential end of an uptrend. Traders enter a sell position at point D and set a stop-loss above point X, expecting the price to fall afterward.
🟣 Crab Vs Deep Crab
The Crab and Deep Crab patterns are both used to identify reversal points in technical analysis, but they differ in terms of correction depth :
Crab : The B point retraces between 38.2% to 61.8% of the XA leg, and point D extends beyond X, indicating a price reversal after a smaller correction.
Deep Crab : The B point retraces more deeply, around 88.6% of the XA leg, and point D has a stronger extension, signaling a reversal after a deeper correction.
The Deep Crab is more suited for identifying stronger price movements.
🔵 How to Use
To effectively use the Deep Crab pattern, it’s essential to correctly identify its five key points (X, A, B, C, and D) based on Fibonacci retracements and extensions. Traders look for a deep retracement at point B, followed by an extended move to point D, which typically signals a strong price reversal.
Once these points are established, traders can strategically enter positions at point D with appropriate stop-loss and take-profit levels, capitalizing on the anticipated market reversal. Proper use of Fibonacci tools is crucial for accurate pattern identification.
🟣 Bullish Deep Crab
To use the Bullish Deep Crab pattern, a trader identifies point D as the key price reversal point in a downtrend. Using Fibonacci tools, points X, A, B, and C are identified, with point B showing an 88.6% retracement of XA, and CD extending 1.618% of XA.
The trader enters a buy position at point D and sets a stop-loss below X, expecting a reversal from a downtrend to an uptrend.
🟣 Bearish Deep Crab
In the Bearish Deep Crab pattern, point D acts as the reversal point in an uptrend. After identifying points X, A, B, and C, D extends 1.618% of XA. Point B retraces 88.6% of XA. Traders enter a sell position at point D and place a stop-loss above X, anticipating a drop in price.
🔵 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 Deep Crab pattern is a valuable reversal tool in technical analysis, known for its deep retracement and extended price movements.
Unlike other harmonic patterns, it emphasizes identifying critical points where price action is likely to reverse sharply. This pattern works well in both bullish and bearish market scenarios, offering clear signals for entry and exit points.
However, successful application requires a deep understanding of market behavior and precise use of technical tools like Fibonacci retracement. Overall, mastering this pattern can enhance trading strategies and risk management.
Bat Harmonic Pattern [TradingFinder] Bat Chart Indicator🔵 Introduction
The Bat Harmonic Pattern, created by Scott Carney in the 1990s, is a sophisticated tool in technical analysis, used to identify potential reversal points in price movements by leveraging Fibonacci ratios.
This pattern is classified into two primary types: the Bullish Bat Pattern, which signals the end of a downtrend and the beginning of an uptrend, and the Bearish Bat Pattern, which indicates the conclusion of an uptrend and the onset of a downtrend.
🟣 Bullish Bat Pattern
The Bullish Bat Pattern is designed to identify when a downtrend is likely to end and a new uptrend is about to begin. The key feature of this pattern is Point D, which typically aligns near the 88.6% Fibonacci retracement of the XA leg.
This point is considered a strong buy zone. When the price reaches Point D after a significant downtrend, it often indicates a potential reversal, presenting a buying opportunity for traders anticipating the start of an upward movement.
🟣 Bearish Bat Pattern
In contrast, the Bearish Bat Pattern forms when an uptrend is nearing its conclusion. Point D, which also typically aligns near the 88.6% Fibonacci retracement of the XA leg, serves as a critical point for traders.
This point is regarded as a strong sell zone, signaling that the uptrend may be ending, and a downtrend could be imminent. Traders often open short positions when they identify this pattern, aiming to capitalize on the anticipated downward movement.
🔵 How to Use
The Bat Pattern consists of five key points: X, A, B, C, and D, and four waves: XA, AB, BC, and CD. Fibonacci ratios play a crucial role in this pattern, helping traders pinpoint precise entry and exit points. In both the Bullish and Bearish Bat Patterns, the 88.6% retracement of the XA leg is a critical level for identifying potential reversal points.
🟣 Bullish Bat Pattern
Traders typically enter buy positions after Point D forms, expecting the downtrend to end and a new uptrend to start. This point, located near the 88.6% retracement of the XA leg, serves as a reliable buy signal.
🟣 Bearish Bat Pattern
Traders usually open short positions after identifying Point D, expecting the uptrend to end and a downtrend to begin. This point, also near the 88.6% retracement of the XA leg, acts as a valid sell signal.
🟣 Trading Tips for the Bat Pattern
Accurate Fibonacci Point Identification : Accurately identify Points X, A, B, C, and D, and calculate the Fibonacci ratios between these points. Point D should ideally be near the 88.6% retracement of the XA leg.
Signal Confirmation with Other Tools : To enhance the pattern's accuracy, avoid trading solely based on the Bat Pattern.
Risk Management : Always use stop-loss orders. In a Bullish Bat Pattern, place the stop-loss below Point X, and in a Bearish Bat Pattern, above Point X. This helps limit potential losses if the pattern fails.
Wait for Price Movement Confirmation : After identifying Point D, wait for the price to move in the anticipated direction to confirm the pattern's validity before entering a trade.
Set Realistic Profit Targets : Use Fibonacci retracement levels to set realistic profit targets, such as 38.2%, 50%, and 61.8% retracement levels of the CD leg. This strategy helps maximize profits and prevents premature exits.
🔵 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 Bat Harmonic Pattern is a powerful tool in technical analysis, offering traders the ability to identify critical reversal points using Fibonacci ratios. By recognizing the Bullish and Bearish Bat Patterns, traders can anticipate potential trend reversals and make informed trading decisions.
However, it is essential to combine the Bat Pattern with other technical analysis tools and confirm signals for better trading outcomes. With proper use, this pattern can help traders minimize risk and optimize their entry and exit points in the market.
D-Shape Breakout Signals [LuxAlgo]The D-Shape Breakout Signals indicator uses a unique and novel technique to provide support/resistance curves, a trailing stop loss line, and visual breakout signals from semi-circular shapes.
🔶 USAGE
D-shape is a new concept where the distance between two Swing points is used to create a semi-circle/arc, where the width is expressed as a user-defined percentage of the radius. The resulting arc can be used as a potential support/resistance as well as a source of breakouts.
Users can adjust this percentage (width of the D-shape) in the settings ( "D-Width" ), which will influence breakouts and the Stop-Loss line.
🔹 Breakouts of D-Shape
The arc of this D-shape is used for detecting breakout signals between the price and the curve. Only one breakout per D-shape can occur.
A breakout is highlighted with a colored dot, signifying its location, with a green dot being used when the top part of the arc is exceeded, and red when the bottom part of the arc is surpassed.
When the price reaches the right side of the arc without breaking the arc top/bottom, a blue-colored dot is highlighted, signaling a "Neutral Breakout".
🔹 Trailing Stop-Loss Line
The script includes a Trailing Stop-Loss line (TSL), which is only updated when a breakout of the D-Shape occurs. The TSL will return the midline of the D-Shape subject to a breakout.
The TSL can be used as a stop-loss or entry-level but can also act as a potential support/resistance level or trend visualization.
🔶 DETAILS
A D-shape will initially be colored green when a Swing Low is followed by a Swing High, and red when a Swing Low is followed by a Swing High.
A breakout of the upper side of the D-shape will always update the color to green or to red when the breakout occurs in the lower part. A Neutral Breakout will result in a blue-colored D-shape. The transparency is lowered in the event of a breakout.
In the event of a D-shape breakout, the shape will be removed when the total number of visible D-Shapes exceeds the user set "Minimum Patterns" setting. Any D-shape whose boundaries have not been exceeded (and therefore still active) will remain visible.
🔹 Trailing Stop-Loss Line
Only when a breakout occurs will the midline of the D-shape closest to the closing price potentially become the new Trailing Stop value.
The script will only consider middle lines below the closing price on an upward breakout or middle lines above the closing price when it concerns a downward breakout.
In an uptrend, with an already available green TSL, the potential new Stop-Loss value must be higher than the previous TSL value; while in a downtrend, the new TSL value must be lower.
The Stop-Loss line won't be updated when a "Neutral Breakout" occurs.
🔶 SETTINGS
Swing Length: Period used for the swing detection, with higher values returning longer-term Swing Levels.
🔹 D-Patterns
Minimum Patterns: Minimum amount of visible D-Shape patterns.
D-Width: Width of the D-Shape as a percentage of the distance between both Swing Points.
Included Swings: Include "Swing High" (followed by a Swing Low), "Swing Low" (followed by a Swing High), or "Both"
Style Historical Patterns: Show the "Arc", "Midline" or "Both" of historical patterns.
🔹 Style
Label Size/Colors
Connecting Swing Level: Shows a line connecting the first Swing Point.
Color Fill: colorfill of Trailing Stop-Loss
Shark Harmonic Pattern [TradingFinder] Shark Detector Indicator🔵 Introduction
The Shark harmonic pattern, first introduced by Scott Carney in 2011, is a recognized tool in technical analysis. Since its inception, it has been widely adopted by traders as an essential market analysis tool.
Due to its complexity, the Shark pattern can be challenging for novice traders. Therefore, we have developed the Harmonic Pattern Indicator to help analysts and traders easily identify these patterns.
🟣 Understanding the Types of Shark Pattern
In technical analysis, the Shark harmonic pattern forms at the end of trends and is categorized into two types: Bullish and Bearish Shark Patterns.
Bullish Shark Pattern : This pattern appears at the end of a downtrend, indicating a potential reversal to an uptrend. Traders can use this pattern to identify buy entry points. The image below illustrates the core components of the Bullish Shark Pattern.
Bearish Shark Pattern : Conversely, the Bearish Shark Pattern forms at the end of an uptrend, signaling a possible reversal to a downtrend. This pattern prompts traders to shift their positions from buying to selling. The image below showcases the characteristics of the Bearish Shark Pattern.
🔵 How to Use
🟣 Trading with the Bullish Shark Pattern
The Bullish Shark Pattern acts as a reversal pattern, helping traders identify the end of a downtrend and the beginning of an uptrend. It consists of five key points that indicate alternating bullish and bearish movements.
Upon the complete formation of this pattern, traders can look for opportunities to enter buy trades. To manage risk effectively, it is advisable to set a stop-loss below the lowest price point within the pattern.
🟣 Trading with the Bearish Shark Pattern
Similarly, the Bearish Shark Pattern functions as a reversal pattern but in the opposite direction. It helps traders identify the end of an uptrend and the onset of a downtrend.
After the pattern fully forms, traders can seek sell entry opportunities. As with the bullish pattern, placing a stop-loss above the highest price point within the pattern is recommended for risk management.
🔵 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 Format : 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 Shark harmonic pattern is a potent analytical tool in technical analysis that aids traders in identifying critical reversal points in financial markets. Whether in a bullish or bearish context, this pattern provides clear trend change signals, allowing traders to enter trades with greater precision and optimize their strategies.
However, as with all analytical methods, it is essential to supplement the Shark pattern with additional analyses and strict risk management to avoid potential losses. Incorporating this pattern into a comprehensive trading strategy can lead to better trade outcomes and more opportunities for success
Price Action Smart Money Concepts [BigBeluga]THE SMART MONEY CONCEPTS Toolkit
The Smart Money Concepts [ BigBeluga ] is a comprehensive toolkit built around the principles of "smart money" behavior, which refers to the actions and strategies of institutional investors.
The Smart Money Concepts Toolkit brings together a suite of advanced indicators that are all interconnected and built around a unified concept: understanding and trading like institutional investors, or "smart money." These indicators are not just randomly chosen tools; they are features of a single overarching framework, which is why having them all in one place creates such a powerful system.
This all-in-one toolkit provides the user with a unique experience by automating most of the basic and advanced concepts on the chart, saving them time and improving their trading ideas.
Real-time market structure analysis simplifies complex trends by pinpointing key support, resistance, and breakout levels.
Advanced order block analysis leverages detailed volume data to pinpoint high-demand zones, revealing internal market sentiment and predicting potential reversals. This analysis utilizes bid/ask zones to provide supply/demand insights, empowering informed trading decisions.
Imbalance Concepts (FVG and Breakers) allows traders to identify potential market weaknesses and areas where price might be attracted to fill the gap, creating opportunities for entry and exit.
Swing failure patterns help traders identify potential entry points and rejection zones based on price swings.
Liquidity Concepts, our advanced liquidity algorithm, pinpoints high-impact events, allowing you to predict market shifts, strong price reactions, and potential stop-loss hunting zones. This gives traders an edge to make informed trading decisions based on liquidity dynamics.
🔵 FEATURES
The indicator has quite a lot of features that are provided below:
Swing market structure
Internal market structure
Mapping structure
Adjustable market structure
Strong/Weak H&L
Sweep
Volumetric Order block / Breakers
Fair Value Gaps / Breakers (multi-timeframe)
Swing Failure Patterns (multi-timeframe)
Deviation area
Equal H&L
Liquidity Prints
Buyside & Sellside
Sweep Area
Highs and Lows (multi-timeframe)
🔵 BASIC DEMONSTRATION OF ALL FEATURES
1. MARKET STRUCTURE
The preceding image illustrates the market structure functionality within the Smart Money Concepts indicator.
➤ Solid lines: These represent the core indicator's internal structure, forming the foundation for most other components. They visually depict the overall market direction and identify major reversal points marked by significant price movements (denoted as 'x').
➤ Internal Structure: These represent an alternative internal structure with the potential to drive more rapid market shifts. This is particularly relevant when a significant gap exists in the established swing structure, specifically between the Break of Structure (BOS) and the most recent Change of High/Low (CHoCH). Identifying these formations can offer opportunities for quicker entries and potential short-term reversals.
➤ Sweeps (x): These signify potential turning points in the market where liquidity is removed from the structure. This suggests a possible trend reversal and presents crucial entry opportunities. Sweeps are identified within both swing and internal structures, providing valuable insights for informed trading decisions.
➤ Mapping structure: A tool that automatically identifies and connects significant price highs and lows, creating a zig-zag pattern. It visualizes market structure, highlights trends, support/resistance levels, and potential breakouts. Helps traders quickly grasp price action patterns and make informed decisions.
➤ Color-coded candles based on market structure: These colors visually represent the underlying market structure, making it easier for traders to quickly identify trends.
➤ Extreme H&L: It visualizes market structure with extreme high and lows, which gives perspective for macro Market Structure.
2. VOLUMETRIC ORDER BLOCKS
Order blocks are specific areas on a financial chart where significant buying or selling activity has occurred. These are not just simple zones; they contain valuable information about market dynamics. Within each of these order blocks, volume bars represent the actual buying and selling activity that took place. These volume bars offer deeper insights into the strength of the order block by showing how much buying or selling power is concentrated in that specific zone.
Additionally, these order blocks can be transformed into Breaker Blocks. When an order block fails—meaning the price breaks through this zone without reversing—it becomes a breaker block. Breaker blocks are particularly useful for trading breakouts, as they signal that the market has shifted beyond a previously established zone, offering opportunities for traders to enter in the direction of the breakout.
Here's a breakdown:
➤ Bear Order Blocks (Red): These are zones where a lot of selling happened. Traders see these areas as places where sellers were strong, pushing the price down. When the price returns to these zones, it might face resistance and drop again.
➤ Bull Order Blocks (Green): These are zones where a lot of buying happened. Traders see these areas as places where buyers were strong, pushing the price up. When the price returns to these zones, it might find support and rise again.
These Order Blocks help traders identify potential areas for entering or exiting trades based on past market activity. The volume bars inside blocks show the amount of trading activity that occurred in these blocks, giving an idea of the strength of buying or selling pressure.
➤ Breaker Block: When an order block fails, meaning the price breaks through this zone without reversing, it becomes a breaker block. This indicates a significant shift in market liquidity and structure.
➤ A bearish breaker block occurs after a bullish order block fails. This typically happens when there's an upward trend, and a certain level that was expected to support the market's rise instead gives way, leading to a sharp decline. This decline indicates that sellers have overcome the buyers, absorbing liquidity and shifting the sentiment from bullish to bearish.
Conversely, a bullish breaker block is formed from the failure of a bearish order block. In a downtrend, when a level that was expected to act as resistance is breached, and the price shoots up, it signifies that buyers have taken control, overpowering the sellers.
3. FAIR VALUE GAPS:
A fair value gap (FVG), also referred to as an imbalance, is an essential concept in Smart Money trading. It highlights the supply and demand dynamics. This gap arises when there's a notable difference between the volume of buy and sell orders. FVGs can be found across various asset classes, including forex, commodities, stocks, and cryptocurrencies.
FVGs in this toolkit have the ability to detect raids of FVG which helps to identify potential price reversals.
Mitigation option helps to change from what source FVGs will be identified: Close, Wicks or AVG.
4. SWING FAILURE PATTERN (SFP):
The Swing Failure Pattern is a liquidity engineering pattern, generally used to fill large orders. This means, the SFP generally occurs when larger players push the price into liquidity pockets with the sole objective of filling their own positions.
SFP is a technical analysis tool designed to identify potential market reversals. It works by detecting instances where the price briefly breaks a previous high or low but fails to maintain that breakout, quickly reversing direction.
How it works:
Pattern Detection: The indicator scans for price movements that breach recent highs or lows.
Reversal Confirmation: If the price quickly reverses after breaching these levels, it's identified as an SFP.
➤ SFP Display:
Bullish SFP: Marked with a green symbol when price drops below a recent low before reversing upwards.
Bearish SFP: Marked with a red symbol when price rises above a recent high before reversing downwards.
➤ Deviation Levels: After detecting an SFP, the indicator projects white lines showing potential price deviation:
For bullish SFPs, the deviation line appears above the current price.
For bearish SFPs, the deviation line appears below the current price.
These deviation levels can serve as a potential trading opportunity or areas where the reversal might lose momentum.
With Volume Threshold and Filtering of SFP traders can adjust their trading style:
Volume Threshold: This setting allows traders to filter SFPs based on the volume of the reversal candle. By setting a higher volume threshold, traders can focus on potentially more significant reversals that are backed by higher trading activity.
SFP Filtering: This feature enables traders to filter SFP detection. It includes parameters such as:
5. LIQUIDITY CONCEPTS:
➤ Equal Lows (EQL) and Equal Highs (EQH) are important concepts in liquidity-based trading.
EQL: A series of two or more swing lows that occur at approximately the same price level.
EQH: A series of two or more swing highs that occur at approximately the same price level.
EQLs and EQHs are seen as potential liquidity pools where a large number of stop loss orders or limit orders may be clustered. They can be used as potential reverse points for trades.
This multi-period feature allows traders to select less and more significant EQL and EQH:
➤ Liquidity wicks:
Liquidity wicks are a minor representation of a stop-loss hunt during the retracement of a pivot point:
➤ Buy and Sell side liquidity:
The buy side liquidity represents a concentration of potential buy orders below the current price level. When price moves into this area, it can lead to increased buying pressure due to the execution of these orders.
The sell side liquidity indicates a pool of potential sell orders below the current price level. Price movement into this area can result in increased selling pressure as these orders are executed.
➤ Sweep Liquidation Zones:
Sweep Liquidation Zones are crucial for understanding market structure and potential future price movements. They provide insights into areas where significant market participants have been forced out of their positions, potentially setting up new trading opportunities.
🔵 USAGE & EXAMPLES
The core principle behind the success of this toolkit lies in identifying "confluence." This refers to the convergence of multiple trading indicators all signaling the same information at a specific point or area. By seeking such alignment, traders can significantly enhance the likelihood of successful trades.
MS + OBs
The chart illustrates a highly bullish setup where the price is rejecting from a bullish order block (POC), while simultaneously forming a bullish Swing Failure Pattern (SFP). This occurs after an internal structure change, marked by a bullish Change of Character (CHoCH). The price broke through a bearish order block, transforming it into a breaker block, further confirming the bullish momentum.
The combination of these elements—bullish order blocks, SFP, and CHoCH—creates a powerful bullish signal, reinforcing the potential for upward movement in the market.
SFP + Bear OB
This chart above displays a bearish setup with a high probability of a price move lower. The price is currently rejecting from a bear order block, which represents a key resistance area where significant selling pressure has previously occurred. A Swing Failure Pattern (SFP) has also formed near this bear order block, indicating that the price briefly attempted to break above a recent high but failed to sustain that upward movement. This failure suggests that buyers are losing momentum, and the market could be preparing for a move to the downside.
Additionally, we can toggle on the Deviation Area in the SFP section to highlight potential levels where price deviation might occur. These deviation areas represent zones where the price is likely to react after the Swing Failure Pattern:
BUY – SELL sides + EQL
The chart showcases a bullish setup with a high probability of price breaking out of the current sell-side resistance level. The market structure indicates a formation of Equal Lows (EQL), which often suggests a build-up of liquidity that could drive the price higher.
The presence of strong buy-side pressure (69%), indicated by the green zone at the bottom, reinforces this bullish outlook. This area represents a key support zone where buyers are outpacing sellers, providing the foundation for a potential upward breakout.
EQL + Bull ChoCh
This chart illustrates a potential bullish setup, driven by the formation of Equal Lows (EQL) followed by a bullish Change of Character (CHoCH). The presence of Equal Lows often signals a liquidity build-up, which can lead to a reversal when combined with additional bullish signals.
Liquidity grab + Bull ChoCh + FVGs
This chart demonstrates a strong bullish scenario, where several important market dynamics are at play. The price begins its upward momentum from Liquidity grab following a bullish Change of Character (CHoCH), signaling the transition from a bearish phase to a bullish one.
As the price progresses, it performs liquidity grabs, which serve to gather the necessary fuel for further movement. These liquidity grabs often occur before significant price surges, as large market participants exploit these areas to accumulate positions before pushing the price higher.
The chart also highlights a market imbalance area, showing strong momentum as the price moves swiftly through this zone.
In this examples, we see how the combination of multiple “smart money” tools helps identify a potential trade opportunities. This is just one of the many scenarios that traders can spot using this toolkit. Other combinations—such as order blocks, liquidity grabs, fair value gaps, and Swing Failure Patterns (SFPs)—can also be layered on top of these concepts to further refine your trading strategy.
🔵 SETTINGS
Window: limit calculation period
Swing: limit drawing function
Mapping structure: show structural points
Algorithmic Logic: (Extreme-Adjusted) Use max high/low or pivot point calculation
Algorithmic loopback: pivot point look back
Show Last: Amount of Order block to display
Hide Overlap: hide overlapping order blocks
Construction: Size of the order blocks
Fair value gaps: Choose between normal FVG or Breaker FVG
Mitigation: (close - wick - avg) point to mitigate the order block/imbalance
SFP lookback: find a higher / lower point to improve accuracy
Threshold: remove less relevant SFP
Equal H&L: (short-mid-long term) display longer term
Liquidity Prints: Shows wicks of candles where liquidity was grabbed
Sweep Area: Identify Sweep Liquidation areas
By combining these indicators in one toolkit, traders are equipped with a comprehensive suite of tools that address every angle of the Smart Money Concept. Instead of relying on disparate tools spread across various platforms, having them integrated into a single, cohesive system allows traders to easily see confluence and make more informed trading decisions.
Three Drive Pattern Detector [LuxAlgo]The Three Drives Pattern Detector indicator focuses on detecting and displaying completed Three Drives patterns on the user chart. This harmonic pattern is characterized by successive higher highs / lower lows following specific ratios.
The script uses a multi-length swing detection approach, as well as adjusting ratios to ensure flexibility and a maximum number of visible Three Drives patterns.
🔶 USAGE
The bullish/bearish Three Drives pattern is commonly interpreted as a reversal pattern and is characterized by three extensions (drives) and two intermediary retracements creating consecutive higher lows (for a bullish case) or lower highs (for a bearish case).
The multi-length swing detection approach taken by the indicator allows for detecting shorter-term alongside medium/longer-term patterns simultaneously, allowing to increase in the amount of detected patterns.
Users can set a Minimum Swing length (for example 2) and a Maximum Swing length (for example 100) which defines the range of the swing point detection length, higher values for these settings will detect longer-term Three-Drives patterns, while a larger range will allow for the detection of a larger number of patterns.
Sometimes multiple dashed lines as the last segment can be observed. This means multiple Three Drives patterns sharing multiple swing points have formed, with only the last segment being different.
🔹 Retracement/Extension Ratios
The Three Drives pattern often associates the retracement/extension to Fibonacci ratios of respectively 0.618/1.272.
Some sources specify a maximum retracement/extension level of 0.786/1.618, which means the retracement should be within the 0.618-0.786 range and the extension between 1.272-1.618.
Since finding a pattern where the retracement/extension is precisely at the 0.618/1.272 levels, or even between 0.618-0.786/1.272-1.618 is rare, the script allows users to adjust those ratios, which ensures more flexibility. Depending on the widening/tightening of the ratios, allowing users to find more patterns (but potentially less valid) or more valid (but fewer patterns).
In the example above, " Show Ratios " is set to " Ratios With Margin ", showing the ideal retracement/extension level together with the margin, while in the example below, " Show Ratios " is set to " Ratios ", which shows only a line where the price should ideally reverse.
While setting the ratios wider will result in more frequent but less valid patterns, it can also create good trading opportunities.
🔹 Best Practices
The indicator doesn't include Stop Loss (SL) or Take Profit (TP) levels, however, the 1.618 Fibonacci Extension level of the last leg can commonly be used as stop loss.
Typical Take Profit areas include:
Starting point of the pattern
Each retracement level (2x)
The 0.618 retracement level of the complete pattern
In the above bullish examples, the price was lower than the lowest point of the pattern. The price reversed and attained all TP levels without hitting the SL level.
In the above bearish example, the price went above the highest point of the pattern but did not hit the SL level, after which two TP levels were hit. Then, the price quickly went up, just missing the SL level before it came back down again, hitting the last 2 TP levels.
This example shows that other Fibonacci levels an also be effective when combined with the Three Drives pattern, even in the longer term.
🔶 DETAILS
🔹 Multi Length
The core of this publication is the multi-length swing detection. To ensure the maximum amount of Three Drives patterns are found, up to 99 different swing length periods can be used to detect swing points which are then tested for valid patterns.
Using a wider variety of swing points also ensures that patterns visible only with specific Swing settings can be found on the same chart without the user needing to constantly adjust the Swing settings to find other patterns.
The user only needs to set the desired minimum and maximum Swing Length.
In this case, swing detection using swing Lengths from 3 to 100 (97 different) are computed and evaluated for patterns. Three different patterns were found on the same chart, with swing lengths 3, 4, and 6.
Note: The Maximum Swing length should be equal to or higher than the Minimum Swing Length . If the maximum value is lower than the minimum, the script will automatically take the minimum value as the maximum to prevent errors.
🔹 Width Margin %
Users can filter out patterns based on the duration of each extension/retracement segment. When the users want segments of the detected patterns to be of a similar duration, the width percentage should be set lower. When the focus is on detecting more patterns the width percentage can be set higher.
🔹 Retracement/Extension Settings
Show Ratios , set to Ratios , show the ideal Fibonacci retracement/extension level, while Ratios With Margin (example below) show the additional margins for retracement/extension.
The upper and lower limits can be visualized while hovering over the calculated ratio label.
The dashed line shows an older pattern, where the last leg has been updated.
🔹 Last Known Pattern
The included dashboard highlights the date of the most recently detected pattern; the text will show " None " if no pattern is found.
🔹 Calculated Bars
The "Calculated Bars" setting makes use of the recently introduced calc_bars_count parameter, making it possible to effectively reduce the number of historical bars during the computation of the script, which significantly improves the loading speed of the script.
Users wishing to see the most recent patterns can set this setting to 1000 for example, where only the most recent 1000 bars are used to find patterns. If every bar must be used for pattern detection, set " Calculated bars " at 0.
🔶 SETTINGS
Minimum Swing Length: Minimum length used for the swing detection.
Maximum Swing Length: Maximum length used for the swing detection.
Retracement: Range of required ratios used for testing retracements.
Extension: Range of required ratios used for testing extensions.
Width Margin: Influences the symmetry of the pattern; with a higher number allowing for less symmetry.
🔹 Style
Text Size: Text size of the ratio labels.
Show Ratios: Show the ideal ratio, upper/lower limit of ratios, or none.
🔹 Dashboard
Show Dashboard: Toggle dashboard which shows the date of the last found pattern.
Location: Location of the dashboard on the chart.
Size: Text size.
🔹 Calculation
Calculated Bars: Allows the usage of fewer bars for performance/speed improvement.
Gartley Harmonic Pattern [TradingFinder] Harmonic Chart patterns🔵 Introduction
Research by H.M. Gartley and Scott Carney emphasizes the importance of harmonic patterns in technical analysis for predicting market movements. Gartley's work, particularly the Gartley 222 pattern, is detailed in his book "Profits in the Stock Market" and relies on the specific placement of points X, A, B, C, and D.
🟣 Defining the Gartley Pattern
The Gartley pattern is a powerful technical analysis tool often seen at the end of a trend, signaling a potential reversal. Ideally, it forms during the first and second waves of Elliott Wave theory, with wave XA representing wave 1 and the entire ABCD correction representing wave 2.
While patterns outside this structure are also valid, the key points of the Gartley pattern align closely with Fibonacci retracement levels. Specifically, point B corrects wave XA to the 61.8% level, point C lies between 38% and 79% of wave AB, and point D extends between 113% and 162% of wave BC.
The bullish Gartley pattern, shown below, forms at the end of a downtrend and signals a potential buying opportunity.
Bullish :
Bearish :
🔵 How to Use
🟣 Bullish Gartley Pattern
To spot a bullish Gartley pattern, follow these rules: the move from point X to point A (the first leg) must be upward. The subsequent move from point A to point B is downward, followed by an upward move from point B to point C.
Finally, the move from point C to point D is downward. On a chart, this pattern resembles the letter M. After the final leg of this pattern, prices are expected to rise from point D.
🟣 Bearish Gartley Pattern
A bearish Gartley pattern forms similarly to the bullish one but in reverse. The initial move from point X to point A should be downward. The next move from point A to point B is upward, followed by a downward move from point B to point C.
The final leg moves upward from point C to point D. This pattern appears as a W on charts, indicating that prices are likely to fall from point D after the final move.
By understanding and identifying Gartley patterns, traders can enhance their technical analysis and improve their decision-making in financial markets. These patterns, when correctly identified, offer significant insights into potential market reversals and continuation patterns.
🔵 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 Format : 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.
Flags With Measured Move [QuantVue]Flags with Measured Moves is a technical analysis tool that identifies bull flags and provides a measured move target.
A bull flag is a continuation pattern that occurs within the context of a general uptrend. It represents a pause or small consolidation before the price resumes its upward movement.
A bull flag consists of two sections: the flagpole and the flag.
The flagpole is the initial upward movement that occurs before the flag forms.
The flag forms as the price consolidates after the initial uptrend. During this phase, the price tends to drift downward or sideways, ideally with declining volume.
Once the flag has put in a low, the initial range of thrust is added to the flag low to form the measured move target.
Every element of the flag is customizable by the trader, including the size and length of the prior uptrend and the minimum and maximum flag depth and length.
The indicator also includes alerts for when new flags are formed, when a breakout from the flag occurs, and when the measured move target is reached.
By default, the indicator settings are set for use on a daily timeframe. If using the indicator on an intraday timeframe, you will need to adjust the settings.
Give this indicator a BOOST and COMMENT your thoughts!
We hope you enjoy.
Cheers!
ICT Immediate Rebalance [LuxAlgo]The ICT Immediate Rebalance aims at detecting and highlighting immediate rebalances, a concept taught by Inner Circle Trader. The ICT Immediate Rebalance, although frequently overlooked, emerges as one of ICT's most influential concepts, particularly when considered within a specific context.
🔶 USAGE
Immediate rebalances, a concept taught by ICT, hold significant importance in decision-making. To comprehend the concept of immediate rebalance, it's essential to grasp the notion of the fair value gap. A fair value gap arises from market inefficiencies or imbalances, whereas an immediate rebalance leaves no gap, no inefficiencies, or no imbalances that the price would need to return to.
Following an immediate rebalance, the typical expectation is for two extension candles to ensue; failing this, the immediate rebalance is deemed unsuccessful. It's important to note that both failed and successful immediate rebalances hold significance in trading when analyzed within a contextual framework.
Immediate rebalances can manifest across various locations and timeframes. It's recommended to analyze them in conjunction with other ICT tools or technical indicators to gain a more comprehensive understanding of market dynamics.
🔹 Multi Timeframe
The script facilitates multi-timeframe analysis, enabling users to display immediate rebalances from higher timeframes.
Enabling the display of higher timeframe candles helps visualize the detected immediate rebalance patterns.
🔹 Dashboard
The dashboard offers statistical insights into immediate rebalances.
🔶 SETTINGS
🔹 Immediate Rebalances
Timeframe: this option is to identify immediate rebalances from higher timeframes. If a timeframe lower than the chart's timeframe is selected, calculations will be based on the chart's timeframe.
Bullish, and Bearish Immediate Rebalances: color customization options.
Wicks 75%, %50, and %25: color customization options of the wick price levels for the detected immediate rebalances.
Immediate Rebalance Candles: toggles the visualization of higher timeframe candles where immediate rebalance is detected.
Confirmation (Bars): specifies the number of bars required to confirm the validation of the detected immediate rebalance.
Immediate Rebalance Icon: allows customization of the size of the icon used to represent the immediate rebalance.
🔹 Dashboard
Dashboard: toggles the visualization of the dashboard, sets its location, and customizes the size of the dashboard.
🔶 RELATED SCRIPTS
Fair-Value-Gap
Thanks to our community for recommending this script. For more conceptual scripts and related content, we welcome you to explore by visiting >>> LuxAlgo-Scripts .
Sequencer [LuxAlgo]The Sequencer indicator is a tool that is able to highlight sequences of prices based on their relative position to past prices, which allows a high degree of customization from the user.
Two phases are included in this script, a "Preparation" phase and a "Lead-Up" phase, each with a customizable amount of steps, as well as other characteristics.
Users can also highlight the last step leading to each phase completion with a level, this level can eventually be used as a key price point.
🔶 USAGE
The script highlights two phases, each being based on a sequence of events requiring prices to be higher/lower than prices various bars ago.
The completion of the preparation phase will lead to the evaluation of the lead-up phase, however, it isn't uncommon to see a reversal occurring after the completion of a preparation phase. In the script, bullish preparations are highlighted in green, while bearish preparations are highlighted in red.
Completion of a "Lead-Up" phase is indicative of a potential reversal, with a bullish reversal for the completion of a bullish lead-up (in blue), and a bearish reversal for the completion of a bearish lead-up (in orange).
Using a higher length for the preparation/lead-up phases can allow the detection of longer-term reversals.
Users wishing to display levels based on specific phases completion can do so from the settings in the "Preparation/Lead-Up Completion Levels" settings group.
The "Show Last" settings determine the amount of respective levels to display on the chart.
🔶 PREPARATION PHASE
The "Preparation" phase precedes the "Lead-Up" phase. The completion of this phase requires N successive prices to be lower than the closing price P bars ago for a bullish phase, and for prices to be higher than the closing price P bars ago for a bearish phase, where N is the user set "Preparation Phase Length" and P the user set "Comparison Period".
🔹 Refined Preparations
Sequences of the preparation phase can either be "Standard" or "Refined". Unlike the standard preparation previously described a refined preparation requires the low prices from the user-specified steps in "Refined Preparation Steps" to be above the low price of the last step for a bullish preparation phase, and for the high prices specified in the refined preparation steps to be below the high price of the last step for a bearish preparation phase.
🔶 LEAD-UP PHASE
The "Lead-Up" phase is initiated by the completion of the "Preparation" phase.
Completion of this phase requires the price to be lower than the low price P bars ago N times for a bullish phase, and for prices to be higher than the high price P bars ago N times for a bearish phase, where N is the user set "Lead-Up Phase Length" and P the user set "Comparison Period".
Unlike with the "Preparation" phase these conditions don't need to be successive for them to be valid and can occur at any time.
🔹 Lead-Up Cancellation
Incomplete "Lead-Up" phases can be canceled and removed from the chart once a preparation of the opposite sentiment is completed, avoiding lead-ups to be evaluated after completion of complete preparations.
This can be disabled by toggling off "Apply Cancellation".
🔹 Lead-Up Suspension
Like with refined preparations, we can require specific steps from the lead-up phase to be higher/lower than the price on the last step. This can be particularly important since we do not require lead-up steps to be successive.
For a bullish lead-up, the low of the last step must be lower than the minimum closing prices of the user-specified steps for it to be valid, while for a bearish lead-up, the high of the last step must be higher than the maximum closing prices of the user-specified steps for it to be valid.
This effectively allows for eliminating lead-up phases getting completed on opposite trends.
🔶 SETTINGS
🔹 Preparation Phase
Preparation Phase Length: Length of the "Preparation" phase.
Comparison Period: Offset used to compare current prices to past ones.
Preparation Type: Type of preparation to evaluate, options include "Standard" or "Refined"
Refined Preparations Steps: Steps to evaluate when preparation type is "Refined"
🔹 Lead-Up Phase
Lead-Up Phase Length: Length of the "Lead-Up" phase.
Comparison Period: Offset used to compare current prices to past ones.
Suspension: Applies suspension rule to evaluate lead-up completion.
Suspension Steps: Specifies the steps evaluated to determine if the lead-up referral is respected. Multiple steps are supported and should be comma-separated.
Apply Cancellation: Cancellation will remove any incomplete lead-up upon the completion of a new preparation phase of the opposite sentiment.
🔹 Levels
Bullish Preparations Levels: When enabled display price levels from completed bullish preparations.
Show Last: Number of most recent bullish preparations levels to display.
Bearish Preparations Levels: When enabled display price levels from completed bearish preparations.
Show Last: Number of most recent bearish preparations levels to display.
Wick %Heyo Fellas,
thanks for checking out my new indicator.
Introduction
Wick % is a simple indicator to compare wick size with body size (mode 1) and to compare wick size with candle size (mode 2).
Upper wicks are bullish when close is higher than open pricen.
Lower wicks are bearish when close is lower than open price.
Wick Theory
In general, big wick and small bodie on a bar means that bull and bears are fighting heavily.
A big wick below the body means the bulls are leading in that fight,
and a big wick above the body means the bears are leading in that fight.
Calculation Formula
Mode 1 – Percentual Increase Wick/Body:
upperWickPercentage = (upperWick / body) * 100 - 100
lowerWickPercentage = (lowerWick / body) * 100 - 100
Mode 2 – Percent Wick/Candlestick:
upperWickPercentage = (upperWick / (high - low)) * 100
lowerWickPercentage = (lowerWick / (high - low)) * 100
Usage
You can use it on every symbol and every timeframe.
The indicator repaints by default, but you can disable it in the settings.
When you disable repaint, it moves the label one bar to the right.
If you want to use the indicator for signals, you must disable repainting.
Best regards,
simwai
Volume Spike IndicatorHello dear traders,
Today we're discussing an indicator I've coded: the Volume Spike Indicator (VSI).
The indicator isn't a groundbreaking invention and certainly not a novelty. Nevertheless, I haven't seen this version of the indicator on TradingView before, so I'd like to introduce it.
1. The Origin of the Idea:
We're all familiar with volume charts: A volume chart visually represents the trading activity for a specific asset over a certain period, indicating the total number of shares or contracts traded.
We also know that volume spikes can significantly impact the market. A volume spike represents an extreme anomaly, a day, week, or month with an extraordinary amount of trading. However, recognizing these spikes in practice isn't always straightforward. What constitutes high volume? How do we define and identify it? The answers to these questions aren't easy.
It's commonly said that a volume spike could be identified if the volume is 25% more than the average of the two weeks prior, but how do you measure this 25%? It's not always easy to calculate, especially in real-time.
This challenge led me to develop the concept into an indicator.
How Does It Work?
Imagine being able to "feel" the market's energy like a surfer feels the ocean. The VSI does something similar by examining trading volume and comparing it to what has been typical over the past few weeks. Here's a quick look at the magic behind it:
Step 1: Establishing the Baseline: We start by establishing a baseline, i.e., the average trading volume over a given period. Let's use the last 10 days as the default setting. We choose 10 days because, in the traditional stock market, 10 days represent two weeks if you subtract weekends. This gives us a fixed line to compare against.
Step 2: Recognizing Peaks: Next, we look for days when the trading volume significantly exceeds this average. The size of the jump is where you have a say. You can set a threshold, such as 25%, to define what you consider a volume spike.
Step 3: The Calculation: This is where the math comes into play. We calculate the percentage change in today's volume compared to the average volume of the last 10 days. For example, if today's volume is 30% above the average and you've set your threshold at 25%, the VSI will recognize this as a spike.
Step 4: Visual Cue: These spikes are then plotted on a graph, with each spike represented as a bar. The height of the bar indicates the spike's percentage size, so you can see at a glance how significant a spike is.
Step 5: Intuitive Color Coding: For quick analysis, the VSI employs a color-coding system. Exceptionally high peaks, such as those exceeding a 100% increase, are highlighted in blue to emphasize their importance. Other peaks are shown in red, creating a visual hierarchy for quick volume data interpretation.
Why This Matters:
Identifying these spikes can help pinpoint the beginning or end of a trend. The idea is that when trading peaks at a certain level, there might be no more buyers or sellers willing to engage at that price level. Volume peaks, and a reversal is likely imminent. It's a simple yet effective concept. Therefore, it's crucial to use this indicator in the context of the trend, as not every spike carries the same significance.
Customizable:
The beauty of the VSI lies in its flexibility. Trading futures? You might want to adjust the averaging period to 14 days to better suit your market. You have full control over the settings to tailor them to your trading style.
Interpreting the Figures:
A positive percentage indicates a volume spike above the average – the higher the percentage, the more significant the spike.
If the percentage exceeds a certain threshold (which you can set, e.g., 25%), it signals a volume spike, indicating increased market activity that could precede significant price movement.
What makes the VSI genuinely adaptable is your ability to tweak the parameters to suit your needs.
Are you trading in a volatile market? Extend the SMA period to smooth out the noise. Trading in a 24-hour market? Adjust the length of your SMA. Seeking finer details? Shorten it. The VSI is yours to adapt to your trading strategy.
---------------------------------------------------------------------------------------------------------------------
As we wrap up this introduction to the Volume Spike Indicator, I hope you're as excited about its potential as I am. This tool, born out of curiosity and a desire for clarity in the vast ocean of market data, is designed to be your ally in navigating the waves of trading activity.
Remember, the true power of the VSI lies not just in its ability to highlight significant volume spikes, but in its adaptability to your unique trading style and needs. Whether you're charting courses through the tumultuous seas of day trading or navigating the broader currents of long-term investments, the VSI is here to offer insights and guidance.
I encourage you to experiment with it, customize it, and see how it can enhance your trading strategy. And as you do, remember that every tool, no matter how powerful, is just one piece of the puzzle. Combine the VSI with your knowledge, experience, and intuition to make informed and strategic trading decisions.
Thank you for taking the time to explore the Volume Spike Indicator with me.
Best Regards,
Karim Subhieh
Fair Value Gap Absorption Indicator [LuxAlgo]The Fair Value Gap Absorption Indicator aims to detect fair value gap imbalances and tracks the mitigation status of the detected fair value gap by highlighting the mitigation level till a new fair value gap is detected.
The Fair Value Gap (FVG) is a widely utilized tool among price action traders to detect market inefficiencies or imbalances. These imbalances arise when buying or selling pressure is significant, resulting in a large upward or downward move, leaving behind an imbalance in the market.
🔶 USAGE
A fair value gap appears in a triple-candle pattern when there is a large candle whose previous candle’s high and subsequent candle’s low do not fully overlap the large candle. The space between these wicks is known as the fair value gap.
Price can come back to these imbalance areas and mitigate them, however, this is sometimes a process involving multiple bars, the displayed imbalances by the indicator allow tracking the current mitigation level of a displayed imbalance.
Fair value gaps can become a magnet for the price before continuing in the same direction. Traders commonly wait for the price to revert toward the fair value gap to clear out the imbalance before continuing to move toward the prevailing trend.
🔶 SETTINGS
🔹Fair Value Gaps
Fair Value Gap Width Filter: defines the filtering multiplier, please refer to the tooltip of the input option for further details.
Bullish, Imbalance and Mitigation: color customization option.
Bearish, Imbalance and Mitigation: color customization option.
Display Percentage of Mitigation: Display the percentage of the mitigation areas.
Historical Fair Value Gaps: toggles the visibility of the historical fair value gaps.
🔶 LIMITATIONS
Please note that filtering cannot be applied for the first 144 (atr fixed-length) candles since the atr value won't be present that is used for filtering.
🔶 RELATED SCRIPTS
Fair-Value-Gap
HTF-Fair-Value-Gap
Liquidity-Voids-FVG
INTELLECT_city - abcd PatternThe ABCD Pattern indicator is a tool that helps identify potential geometric patterns of price movement on the chart of a financial instrument. This indicator is based on trading strategies that use the formation of four separate points, designated A, B, C and D.
Point A: The starting point of the pattern, which usually represents the end of the previous price trend.
Point B: The top of the first price wave directed against the current trend.
Point C: Completion of the second price wave started from point B. Often point C is formed at a level close to the completion of the correction.
Point D: The end point of the pattern where price forms a third wave directed towards the original trend.
The indicator displays the AB, BC and CD lines on the chart and also provides labels for these levels. This can help traders and analysts identify and analyze potential ABCD patterns on a price action chart.
It is important to remember that the ABCD Pattern does not guarantee successful trading and traders should combine it with other analysis methods and strategies to make informed decisions. Testing and adaptation to specific market conditions are also key steps when using this indicator.
Fibonacci Timing Pattern IIThe Fibonacci Timing Pattern II is a price-based counter that seeks to determine medium-term reversals in price action. It is based on the following set of conditions:
* For a bullish Fibonacci timing signal II: The current close must be lower than the close prices from one and two periods ago. Simultaneously, the close price from two periods ago must be lower than the close price from three periods ago, and the close price from three periods ago must be lower than the close price from five periods ago. The Fibonacci sequence continues until the close price from thirty four periods ago which must be above the close price from fifty five periods ago.
* For a bearish Fibonacci timing signal II: The current close must be higher than the close prices from one and two periods ago. Simultaneously, the close price from two periods ago must be higher than the close price from three periods ago, and the close price from three periods ago must be higher than the close price from five periods ago. The Fibonacci sequence continues until the close price from thirty four periods ago which must be lower the close price from fifty five periods ago.
The signals of the pattern are ideally used in a sideways market or used in tandem with the trend (bullish signals are taken in a bullish market and bearish signals are taken in a bearish market).
PERFECT ENGULFING Candlestick Patterns by AnmolWill add some more patterns and conditions in it in future, for now its for detecting PERFECT Engulfings only.
Use these Engulfing to take a trade when it get detected on support/resistance
Master Pattern [LuxAlgo]The Master Pattern indicator is derived from the framework proposed by Wyckoff and automatically displays major/minor patterns and their associated expansion lines on the chart.
Liquidity levels are also included and can be used as targets/stops. Note that the Liquidity levels are plotted retrospectively as they are based on pivots.
🔶 USAGE
The Master Pattern indicator detects contraction phases in the markets (characterized by a lower high and higher low). The resulting average from the latest swing high/low is used as expansion line. Price breaking the contraction range upwards highlights a bullish master pattern, while a break downward highlights a bearish master pattern.
During the expansion phase price can tend to be stationary around the expansion level. This phase is then often followed by the price significantly deviating from the expansion line, highlighting a markup phase.
Expansion lines can also be used as support/resistance levels.
🔹 Major/Minor Patterns
The script can classify patterns as major or minor patterns.
Major patterns occur when price breaks both the upper and lower extremity of a contraction range, with their contraction area highlighted with a border, while minor patterns have only a single extremity broken.
🔶 SETTINGS
Contraction Detection Lookback: Lookback used to detect the swing points used to detect the contraction range.
Liquidity Levels: Lookback for the swing points detection used as liquidity levels. Higher values return longer term liquidity levels.
Show Major Pattern: Display major patterns.
Show Minor Pattern: Display minor patterns.
Supply and Demand Based Pattern [RH]This indicator focuses on detecting RBR and DBD patterns, which signify periods of increased momentum and potential continuation or reversal of the prevailing trend.
The RBR pattern consists of a rally (upward movement), followed by a base (consolidation or retracement), and then another rally. It suggests that the upward momentum may persist and provide trading opportunities.
On the other hand, the DBD pattern comprises a drop (downward movement), followed by a base, and then another drop. It indicates that the downward momentum might continue, offering potential shorting opportunities.
Bullish(RBR) example:
Bearish(DBD) example:
1. The bullish (RBR) and bearish (DBD) patterns share the same underlying logic, only differing in their directionality.
2. For both RBR and DBD patterns, the first rise/drop can consist of one or multiple candles. However, in the case of multiple candles, all candles must exhibit a bullish nature for RBR and a bearish nature for DBD.
Example:
3. It is a prerequisite for the first rise/drop to include at least one candle with a defined percentage of health, as determined by the user.
4. The base, following the first rise/drop, may comprise one or multiple candles.
Example:
5. To maintain consistency, the base is not allowed to retrace beyond 80%, although this value can be adjusted by the user.
6. Similar to the first rise/drop, the second rise/drop in both RBR and DBD patterns can consist of one or multiple candles. However, all candles within this phase must demonstrate a bullish nature for RBR and a bearish nature for DBD.
7. Confirmation of the bullish (RBR) pattern occurs when a candle closes above the high of the first rise. Conversely, the bearish (DBD) pattern is confirmed when a candle closes below the low of the first drop.
Example:
Alerts can be set for all bullish and bearish pattern or for the first pattern in the range of similar pattern.
ABC finderI made this script a long time again and never released it. It is a ABC Pattern finding tool. You can adjust the "Bars Back" setting to include more or less bars in the pattern. I usually have it set to 10 or 15 these settings seem to work well on most assets. The scripts allows you to set up a trade box automatically and has a call out table to make prices levels more clear and easy to read. The trade box levels can be set by fixed percentage or by pattern based fib.
Hope it helps!
