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Candlestick analysis

Predictive Financial Indicator# TradingView Script Description - APFI v7 Enhanced ## 📊 **Advanced Predictive Financial Indicator v7 Enhanced** ### **Overview** This indicator combines multiple advanced technical analysis concepts to predict potential price movements and identify high-probability turning points. It uses a proprietary multi-factor scoring system that analyzes market behavior patterns, trend dynamics, and volatility characteristics to generate predictive signals. ### **Core Methodology** #### **1. Entanglement Factor Analysis** - **Concept**: Measures market predictability through autocorrelation analysis of price momentum - **Purpose**: Identifies periods when price movements follow predictable patterns - **Implementation**: Calculates correlation between current and historical price changes across multiple timeframes - **Value**: Higher entanglement indicates more predictable market behavior, increasing signal reliability #### **2. Trend Strength Assessment** - **Concept**: Evaluates the relationship between current price and moving average with momentum components - **Purpose**: Determines trend quality and persistence - **Implementation**: Combines price-to-MA ratio with short-term momentum analysis - **Value**: Strong trends provide better context for signal validation #### **3. Volatility Analysis** - **Concept**: Multi-dimensional volatility assessment using both statistical and ATR-based measures - **Purpose**: Identifies market conditions that favor certain signal types - **Implementation**: Combines standard deviation of returns with ATR-based volatility ratios - **Value**: Helps distinguish between high-confidence and low-confidence market environments #### **4. Exhaustion Detection** - **Concept**: Identifies when trends are losing momentum across multiple timeframes - **Purpose**: Predicts potential trend reversals before they occur - **Implementation**: Analyzes momentum slope changes and compares short vs. long-term momentum - **Value**: Critical for turning point identification and risk management #### **5. Dynamic Support/Resistance Analysis** - **Concept**: Real-time identification of key price levels with rejection confirmation - **Purpose**: Validates signals against significant price levels - **Implementation**: Tracks multiple touch points and calculates rejection probabilities - **Value**: Increases signal accuracy by confirming against structural market levels #### **6. Volume Confirmation** - **Concept**: Validates signals using volume analysis - **Purpose**: Ensures signals are supported by institutional activity - **Implementation**: Compares current volume to historical averages during significant price movements - **Value**: Filters out weak signals that lack volume support #### **7. Pattern Correlation** - **Concept**: Identifies recurring price patterns and their correlation with current market behavior - **Purpose**: Leverages historical pattern recognition for signal validation - **Implementation**: Analyzes price change patterns and correlates with historical occurrences - **Value**: Adds statistical confidence to signal generation ### **Signal Types** #### **Turning Point Signals (Highest Priority)** - **Purpose**: Identify high-probability trend reversal points - **Criteria**: Combines exhaustion detection, support/resistance validation, volume confirmation, and pattern correlation - **Visual**: Large circles on MA line with 🎯 symbols - **Use Case**: Major trend changes, swing trading entries #### **Regular Directional Signals** - **Purpose**: Identify continuation or new trend directions - **Criteria**: Based on predictive price analysis with confidence thresholds - **Visual**: Medium circles on MA line with ▲▼ symbols - **Use Case**: Trend following, momentum trading #### **Sideways Signals** - **Purpose**: Identify range-bound market conditions - **Criteria**: Low directional confidence with high volatility compression - **Visual**: Small circles on MA line with ◆ symbols - **Use Case**: Range trading, consolidation periods ### **Key Features** #### **Multi-Factor Scoring System** - **Exhaustion Score**: 25% weight for trend exhaustion detection - **Levels Score**: 20% weight for support/resistance validation - **Volatility Score**: 15% weight for market condition assessment - **Pattern Score**: 15% weight for historical pattern correlation - **Volume Bonus**: 10% weight for volume confirmation - **Pattern Bonus**: 5% weight for high correlation patterns #### **Adaptive Thresholds** - **Dynamic Sensitivity**: Adjusts to different market conditions - **Asset-Specific**: Optimized for different instrument types - **Timeframe Adaptive**: Adjusts parameters based on chart timeframe #### **Visual Display Options** - **Bold MA Line**: MA line becomes thicker and colored at signal points - **Circles on MA**: Precise positioning of signals on moving average - **Combined Display**: Both methods for maximum visibility - **Customizable Colors**: Distinct colors for each signal type ### **How to Use** #### **Setup** 1. Apply to any timeframe (1m to 1D recommended) 2. Adjust MA period based on your trading style (default: 20) 3. Set sensitivity level (0.1-3.0, default: 1.0) 4. Choose signal strength filter (Weak/Medium/Strong) #### **Signal Interpretation** - **High Confidence**: Signals with score > 0.7 and strong volume confirmation - **Medium Confidence**: Signals with score 0.5-0.7 and moderate confirmation - **Low Confidence**: Signals with score 0.3-0.5 and weak confirmation #### **Trading Applications** - **Swing Trading**: Use turning point signals for major reversals - **Day Trading**: Use regular signals for intraday momentum - **Position Trading**: Combine with higher timeframes for trend confirmation ### **Technical Specifications** #### **Input Parameters** - **MA Period**: 5-200 (default: 20) - **Sensitivity**: 0.1-3.0 (default: 1.0) - **Confidence Threshold**: 0.1-0.9 (default: 0.3) - **Signal Strength**: Weak/Medium/Strong (default: Medium) #### **Display Options** - **Signal Display Method**: Bold MA Line / Circles on MA / Both - **Circle Size**: Small/Medium/Large - **MA Line Thickness**: 1-5 pixels - **Information Table**: Real-time signal data #### **Alerts** - **Turning Point Alerts**: High-priority reversal signals - **Regular Signal Alerts**: Directional momentum signals - **Exhaustion Alerts**: Trend exhaustion warnings ### **Performance Characteristics** #### **Strengths** - **Multi-timeframe Analysis**: Works across different chart timeframes - **Adaptive Parameters**: Automatically adjusts to market conditions - **High Accuracy**: Combines multiple confirmation methods - **Clear Visual Signals**: Easy to identify and interpret #### **Best Practices** - **Combine with Price Action**: Use signals as confirmation, not standalone - **Risk Management**: Always use stop losses and position sizing - **Backtesting**: Test on historical data before live trading - **Market Conditions**: Works best in trending and volatile markets ### **Disclaimer** This indicator is for educational and informational purposes only. It should not be considered as financial advice. Always conduct your own research and consider your risk tolerance before making trading decisions. Past performance does not guarantee future results. --- **Version**: 7.0 Enhanced **Compatibility**: Pine Script v6 **Last Updated**: September 2024 **Status**: Production Ready
Pine Script® indicator
by Dr_lei
1
All Levels This script draws key price levels on your chart, including: • Previous Day (PD): High, Low, Close • Day Before Yesterday (DBY): High, Low, Close • Pre-Market (PM): High and Low • Today’s levels: High, Low, Open, Close • Current bar levels: High, Low, Open, Close Each level is displayed as a horizontal line with a label showing the level value. It works on any timeframe, including 1-minute charts, and automatically updates as new bars form. ⸻ 2. Features 1. Custom Colors Each type of level has its own color, declared as a const color. For example: • Previous Day High = red • Today’s Close = gold • Pre-Market High = fuchsia 2. Right-Extending Lines All horizontal levels extend to the right, so you always see them on the chart. 3. Persistent Labels Every line has a label at the right side showing its name and price. For example: • PDH 422 • TODL 415.5 4. Dynamic Updates The script updates automatically whenever a new bar forms, so levels stay accurate. 5. Session-Based Pre-Market You can define the pre-market session (default “04:00–09:30 EST”). The script calculates the high and low of this session only. 6. Checkbox Inputs You can enable/disable entire groups of levels: • Previous Day • Day Before Yesterday • Pre-Market • Today • Current bar
Pine Script® indicator
by nasdaq_girl
Simple Turnover (Enhanced v2)📊 Simple Turnover (Enhanced) 🔹 Overview The Simple Turnover Indicator calculates a stock’s turnover by combining both price and volume, and then compares it against quarterly highs. This helps traders quickly gauge whether market participation in a move is strong enough to confirm a breakout, or weak and likely to be false. Unlike volume alone, turnover considers both traded volume and price level, giving a truer reflection of capital flow in/out of a stock. ________________________________________ 🔹 Formulae Used 1. Average Price (SMA) AvgPrice=SMA(Close,n) 2. Average Volume (SMA) AvgVol=SMA(Volume,n) 3. Turnover (Raw) Turnover raw=AvgPrice × AvgVol 4. Unit Adjustment • If Millions → Turnover = Turnover raw × 10^−6 • If Crores → Turnover = Turnover raw × 10^−7 • If Raw → Turnover = Turnover raw 5. Quarterly High Turnover (qHigh) Within each calendar quarter (Jan–Mar, Apr–Jun, Jul–Sep, Oct–Dec), we track the maximum turnover seen: qHigh=max (Turnover within current quarter) ________________________________________ 🔹 Visualization • Bars → Color follows price candle: o Green if Close ≥ Open o Red if Close < Open • Blue Line → Rolling Quarterly High Turnover (qHigh) ________________________________________ 🔹 Strategy Use Case The Simple Turnover Indicator is most effective for confirming true vs false breakouts. • A true breakout should be supported by increasing turnover, showing real capital backing the move. • A false breakout often occurs with weak or declining turnover, suggesting lack of conviction. 📌 Example Strategy (3H timeframe): 1. Identify a demand zone using your preferred supply-demand indicator. 2. From this demand zone, monitor turnover bars. 3. A potential long entry is validated when: o The current turnover bar is at least 20% higher than the previous one or two bars. o Example setting: SMA length = 5 (i.e., turnover = 5-bar average close × 5-bar average volume). 4. This confirms strong participation in the move, increasing probability of a sustained breakout. ________________________________________ 🔹 Disclaimer ⚠️ This indicator/strategy does not guarantee 100% accurate results. It is intended to improve the probability of identifying true breakouts. The actual success of the strategy will depend on price action, market momentum, and prevailing market conditions. Always use this as a supporting tool along with broader trading analysis and risk management.
Pine Script® indicator
by IndianCamel
2
Market Structure Smart Money Concept - BOS + CHOCH + IDMThis tool is designed for traders working with Smart Money Concepts (SMC) and analyzing market structure. Key Elements It automatically identifies and marks: - **BOS (Break of Structure)** – confirmed breaks signaling trend continuation - **CHoCH (Change of Character)** – reversal points marking trend changes - **IDM (Internal Market Structure)** – a critically important element that helps distinguish true reversals from temporary corrections - **Inside Bars** – automatic detection of inside bars to filter out "noise" Why IDM is Important Traders often mistake ordinary liquidity collection for the beginning of a new trend. IDM acts as an additional filter - only after its break can we speak of a true change in market structure. Flexible Settings - Label sizes and colors - Line styles - Separate settings for shadow and body breaks - Search period configuration for initial points (1-100% of available history) - Option to display current structure level lines - Information table Main Advantages - Clear real-time market structure visualization - Separation of body and shadow breaks for more precise analysis - Flexibility of use: suitable for both intraday scalping and medium-term trading - Minimization of subjectivity through strict algorithm - Works on any timeframe and liquid instruments **This indicator allows you to clearly see the current market structure, quickly assess market conditions, track key turning points, identify the active trend and potential reversals.** ================================================================================== Этот инструмент создан для трейдеров, работающих по Smart Money Concepts (SMC) и анализирующих рыночную структуру. ### Ключевые элементы Он автоматически определяет и отмечает: - **BOS (Break of Structure)** – подтверждённые пробои, сигнализирующие о продолжении тренда - **CHoCH (Change of Character)** – разворотные точки, фиксирующие смену тренда - **IDM (Internal Market Structure)** – критически важный элемент, который помогает отличить истинные развороты от временных коррекций - **Inside Bars** – автоматическое определение внутренних баров для фильтрации "шума" Почему IDM важен Часто трейдеры принимают обычный сбор ликвидности за начало нового тренда. IDM действует как дополнительный фильтр - только после его пробоя можно говорить об истинном изменении структуры рынка. Гибкие настройки - Размеры и цвета меток - Стили линий - Отдельные настройки для теневых и полнотелых пробоев - Настройка периода поиска начальных точек (1-100% от доступной истории) - Опция отображения линий текущих структурных точек - Информационная таблица Основные преимущества - Чёткая визуализация структуры рынка в реальном времени - Разделение полнотелых и теневых пробоев для более точного анализа - Гибкость использования: подходит как для интрадей-скальпинга, так и для среднесрочной торговли - Минимизация субъективности через строгий алгоритм - Подходит для любых таймфреймов и ликвидных инструментов **Этот индикатор позволяет ясно видеть текущую рыночную структуру, быстро оценить ситуацию на рынке, отслеживать ключевые переломные моменты, определить активный тренд и возможный разворот.**
Pine Script® indicator
by swwcase
EMP Probabilistic [CHE]Part 1 — For Traders (Practical Overview, no formulas) What this tool does EMP Probabilistic \ turns raw price action into a clean, probability-aware map. It builds two adaptive bands around the session open of a higher timeframe you choose (called the S-timeframe) and highlights a robust median threshold. At a glance you know: Where price has recently tended to stay, Whether current momentum sits above or below the median, and A live Long vs. Short probability based on recent outcomes. Why it improves decisions Objective context in any regime: The nonparametric band comes straight from recent market behavior, without assuming a particular distribution. Volatility-aware risk lens: The parametric band adapts to current volatility, helping you judge stretch and room for continuation or snap-back. No lookahead: All stats update only after an S-bar is finished. That means the panel reflects information you truly had at that time. How to read the chart Orange band = empirical, distribution-free range derived from recent session returns (nonparametric). Teal band = volatility-scaled range around the session open (parametric). Median dots: green when close is above the median threshold, red when below. Info panel: shows the active S-timeframe, window sizes, live coverage for both bands, the internal width parameter and volatility estimate, plus a one-line summary. Probability label: “Long XX% • Short YY%” — a simple read on the recent balance of up vs. down S-bars. How to use it (quick start) 1. Choose S-timeframe with Auto, Multiplier, or Manual. “Auto” scales your chart TF up to a sensible higher step. 2. Set alpha to control how tight the inner band should be. A typical value gives you a comfortable center zone without cutting off healthy trends. 3. Trade the context: Trend-following: Prefer longs when price holds above the median; prefer shorts when it stays below. Mean-reversion: Fade moves near the outer edges during ranges; look for reversion back toward the median. Breakout filter: Require closes that push and hold beyond the volatility band for momentum plays; avoid noise when price chops inside the middle of the orange band. Risk management made practical Size positions relative to the teal band width to keep risk consistent across instruments and regimes. For stops, many traders set them just beyond the opposite orange bound or use a fraction of the teal band. Watch the panel’s coverage readouts and Brier score; when they deteriorate, the market may be shifting — reduce size or demand stronger confirmation. Suggested presets Scalping (Crypto/FX): Auto S-TF, alpha around a fifth, calibration window near two hundred, RS volatility, metrics window near two hundred. Intraday Futures: Multiplier 3–5× your chart TF; similar alpha and window sizes; RS volatility is a solid default. Swing/Equities: S-TF at least daily; test both RS and GK volatility modes; keep windows on the larger side for stability. What makes it different Two complementary lenses: a distribution-free read of recent behavior and a volatility-scaled read for risk and stretch. Self-calibrating width: the parametric band quietly nudges its internal multiplier so actual coverage tracks your target. Clean UX: grouped inputs, tooltips, an info panel that tells you what’s going on, and a simple median bias you can act on. Repainting & timing The logic updates only when the S-bar closes. On lower-timeframe charts you’ll see intrabar flips of the dot color — that’s just live price moving around. For strict signals, confirm on S-bar close. Friendly note (not financial advice) Use this as a context engine. It won’t predict the future, but it will keep you on the right side of probability and volatility more often, which is exactly where consistency starts. Part 2 — Under the Hood (Conceptual, no formulas) Data and timeframe design The script works on a higher S-timeframe you select. It fetches the open, high, low, close, and time of that S-bar. Internally, it only updates its rolling windows after an S-bar has finished. It then pushes the previous S-bar’s statistics into its arrays. That design removes lookahead and keeps the metrics out-of-sample relative to the current S-bar. Nonparametric band (distribution-free) The orange band comes from the empirical distribution of recent session-level close-minus-open moves. The script keeps a rolling window, sorts a safe copy, and reads three key points: a lower bound, a median, and an upper bound. Because it’s based purely on observed outcomes, it adapts naturally to skew, fat tails, and regime shifts without assuming any particular shape. The orange range shows “where price has tended to live” lately on the chosen S-timeframe. Parametric band (volatility-scaled) The teal band models log-space variability around the session open using one of two well-known OHLC volatility estimators: Rogers–Satchell or Garman–Klass. Each estimator contributes a per-bar variance figure; the script averages these across the rolling window to form a current volatility scale. It then builds a symmetric band around the session open in price space. This gives you a volatility-aware notion of stretch that complements the distribution-free orange band. Self-calibration of band width The teal band has an internal width multiplier. After each completed S-bar the script checks whether the realized move stayed inside that band. If the band was too tight, the multiplier is nudged upward; if it was too loose, it’s eased downward. A simple learning rate governs how quickly it adapts. Over time this keeps the realized inside-coverage close to the target implied by your alpha setting, without you having to hand-tune anything. Long/Short probability and calibration quality The Long vs. Short probability is a transparent statistic: it’s just the recent fraction of up sessions in the rolling window. It is not a complex model — and that’s the point. You get an honest, intuitive read on directional tendency. To monitor how well this simple probability lines up with reality, the script tracks a Brier-style score over a separate metrics window. Lower is better: it means your recent probability read has matched outcomes more closely. Coverage tracking for both bands The panel reports coverage for the orange band (nonparametric) and the teal band (parametric). These are rolling averages of how often recent S-bar moves landed inside each band. Watching these two numbers tells you whether market behavior still aligns with the recent distribution and with the current volatility model. Why it doesn’t repaint Because the arrays update only when an S-bar closes and only push the previous bar’s stats, the panel and metrics reflect information you had at the time. Intrabar visuals can change while a bar is forming — that’s expected — but the decision framework itself is anchored to completed S-bars. Performance and practicality The heaviest step is sorting a copy of the window for the nonparametric band. With typical window sizes this stays responsive on TradingView. The volatility estimators and rolling averages are lightweight. Inputs are grouped with clear tooltips so you can tune without hunting. Limitations and good practice In thin or gappy markets the bands can jump; consider a larger window or a higher S-timeframe. During violent regime shifts, shorten the window and increase the learning rate slightly so the teal band catches up faster — but don’t overdo it, or you’ll chase noise. The Long/Short probability is intentionally simple; it’s a context indicator, not a standalone signal factory. Combine it with structure, volume, or your execution rules. Takeaway Under the hood, the script blends empirical behavior and volatility scaling, then self-calibrates so the teal band’s real-world coverage stays near your target. You get clarity, consistency, and a dashboard that tells you when its own assumptions are holding up — exactly what you need to trade with confidence. Disclaimer The content provided, including all code and materials, is strictly for educational and informational purposes only. It is not intended as, and should not be interpreted as, financial advice, a recommendation to buy or sell any financial instrument, or an offer of any financial product or service. All strategies, tools, and examples discussed are provided for illustrative purposes to demonstrate coding techniques and the functionality of Pine Script within a trading context. Any results from strategies or tools provided are hypothetical, and past performance is not indicative of future results. Trading and investing involve high risk, including the potential loss of principal, and may not be suitable for all individuals. Before making any trading decisions, please consult with a qualified financial professional to understand the risks involved. By using this script, you acknowledge and agree that any trading decisions are made solely at your discretion and risk. Best regards and happy trading Chervolino
Pine Script® indicator
by chervolino
Vortex Filter PATThe Vortex Filter is your guide to smarter trend trading and position scaling. This indicator goes beyond simple buy/sell signals by identifying a critical zone for potential averaging, allowing you to improve your position and risk management in real-time. A clear 'Long' or 'Short' signal is generated when a new trend is confirmed. When the price pulls back into the specially defined averaging zone, you receive a signal to "BUY" or "SELL" consider adding to your position. This two-tiered approach to market entry and management is a game-changer for traders who want to build profitable positions and manage risk effectively
Pine Script® indicator
by Impextejas04
1
S&P 500 Scanner 🚀 S&P 500 Scanner – TradingView Stock Screener for Reversals Catch early bullish & bearish signals in S&P 500 stocks. Real-time TradingView scanner for scalping, day trading & swing trading with non-lagging alerts. ________________________________________ 👋 Meet Your New Trading Buddy Looking for an intelligent S&P 500 scanner on TradingView? Say hello to your new edge—the S&P 500 Stock Scanner, a professional tool for spotting bullish and bearish reversals in America’s biggest, most liquid companies. No more doomscrolling 500 charts manually (seriously, who has time for that? 😅). Instead, get real-time buy/sell signals, alerts, and chart markers for scalping, day trading, and swing trading—all without lagging indicators. ________________________________________ 🔥 Why This S&P 500 Screener Rocks Catch SP500 reversals early before the herd piles in. Trade 500 blue-chip US stocks—Apple, Nvidia, Tesla, Microsoft, you name it. Get “non-lagging” stock signals based on candlestick patterns, divergences, and momentum. Works in real-time during U.S. market hours. Perfect for anyone searching: 👉 “SP500 stock screener” 👉 “TradingView S&P 500 scanner” 👉 “candlestick reversal indicator” 👉 “day trading scanner US stocks” Basically, if it’s in the top 500 US companies, this scanner will find the next move before your cousin’s “hot stock tip” shows up on WhatsApp. 📲😂 ________________________________________ 📊 What is the S&P 500 Anyway? The S&P 500 Index is the gold standard of U.S. equities. It tracks 500 of the strongest companies, representing over $50 trillion in market cap (yes, trillion with a T 💰). From tech beasts like Apple 🍏 and Nvidia 💻 to financial powerhouses like JPMorgan 🏦 and Berkshire Hathaway 🐂, these are the stocks that move global markets. Our S&P 500 Scanner analyzes them all—broken into 20 groups with 25 stocks each—giving you “bullish/bearish signals S&P500” on every timeframe: ⏱ Scalpers → 1m–5m charts 📉 Day traders → 15m–1h charts 📈 Swing traders → Daily/Weekly setups ________________________________________ ⚙️ How the Scanner Works ✅ Hard-Coded Groups → 20 groups × 25 stocks = full SP500 coverage. ✅ Table View → See live signals: 🟢 Green 1 = bullish reversal 🔴 Red 2 = bearish reversal ✅ X Markers on Charts → Green below for buys, red above for sells. ✅ Auto Support/Resistance → Confidence boosters for entries. ✅ 50+ Pattern Detection → Hammers, dojis, engulfing, divergences, exhaustion. What are the Rules of using it? Very Simple: Long = enter above Green X ✅ Short = enter below Red X ❌ Stop loss = previous candle's close 🛑 Target = 2–7% or until opposite signal appears 🎯 ________________________________________ 🚨 Group-Level Alerts = Less Screen Time Set one alert per group and relax. When you set up alert on even 1 stock of any Group, you will get notified of reversal Signal developing in any other stock too which is part of this group, you’ll know instantly— so it is ideal for day trading alerts on S&P500 stocks as well as for swing trading. ________________________________________ 🎯 Why Traders Love It Time Saver ⏳: No need to scan 500 charts. Early Bird Advantage 🐦: Enter before lagging indicators catch up. High Liquidity 💧: Trade top U.S. stocks with seamless execution. Flexible Strategies 🔀: Scalping, intraday, or swing. Custom Alerts 🔔: Never miss bullish/bearish setups again. If you’ve ever searched “early entry stock scanner TradingView” or “best SP500 reversal screener”, this is built for you. ________________________________________ 📈 Trading Strategies Made Easy Scalping Tool: Fast moves on 1–5m charts. Day Trading Indicator: Intraday reversals during U.S. hours. Swing Trading Scanner: Daily setups with trend continuation. Adapt to your style and trade smarter, not harder. ________________________________________ 🔍 Optimized For Traders Searching: “S&P 500 stock screener TradingView” “real-time reversal alerts SP500” “candlestick pattern scanner US stocks” “best day trading indicator SP500” “non-lagging SP500 trading strategy” ________________________________________ 🚀 Ready to Scan Like a Pro? ✅ Load the S&P 500 Scanner on your TradingView charts today. ✅ Catch reversals early, trade with confidence, and get a head starts vis-a-vis lagging indicators 🥊. ________________________________________ ⚠️ Disclaimer ✅ This indicator provides technical trading signals based on price action, candlestick patterns, and momentum. ✅ It does not replace your financial advisor. 📉📈 ✅ Use it as a technical edge, while doing your own fundamental research or following guidance from your advisor for long-term decisions.
Pine Script® indicator
by jellygill
Special Red & Green CandlesCore Concept The strategy identifies potential reversal points by looking for candles that show strong rejection (engulfing behavior) at key technical levels across multiple timeframes, combined with specific Fibonacci and volatility conditions. Key Components Multi-Timeframe Pivot System Calculates Daily, Weekly, and Monthly pivot points (Standard & CPR methods) Tracks traditional pivots (PP, R1-R4, S1-S4) and Central Pivot Range (CPR) values Includes VWAPs (VWAP, 50-period, 250-period SMAs) Dynamic Volatility Filter Uses timeframe-based multipliers to adapt to different chart resolutions: dynamicMultiplier: Defines minimum candle size requirement (0.015%-0.4% of close) dynamicMultiplierS: Defines maximum candle size filter (0.025%-0.55% of close) Special Candle Conditions For Special Red Candles (Bearish Reversal): Red candle (close < open) Open below at least one pivot point (any timeframe) High touches at least one pivot point Close below 38.2% Fibonacci level of candle range Current high is 5-bar highest but low isn't 8-bar lowest Meets volatility conditions (absolute gap > 0.7% of close) For Special Green Candles (Bullish Reversal): Green candle (close > open) Open above at least one pivot point Low touches at least one pivot point Close above 61.8% Fibonacci level Current low is 5-bar lowest but high isn't 8-bar highest Meets same volatility requirement Additional Features Gap Analysis Table: Shows relationships between key daily/weekly levels Visual Indicators: Colors background, plots labels, and Fibonacci levels Comprehensive Level Tracking: Monitors 30+ different pivot points across all timeframes Trading Logic This is essentially a fade-the-extreme-move strategy that identifies: Candles that have significant range (volatility filter) That show clear rejection at important technical levels Across multiple timeframes simultaneously With Fibonacci confluence for additional confirmation Potential Use Cases Swing Trading: Identifying reversal points in larger moves Day Trading: Using lower timeframe signals for intraday reversals Position Sizing: The strength of confluence could determine trade size Risk Management The strategy includes inherent risk controls through: Multiple confirmation requirements (reduces false signals) Volatility filters (avoids choppy market conditions) Multi-timeframe confluence (increases signal reliability) This is a sophisticated institutional-grade approach that combines traditional pivot analysis with modern volatility-based filtering and Fibonacci theory.
Pine Script® indicator
by Sudip09m