HTF Candles & ReversalsHTF Candles & Reversals
Unlock a multi-dimensional view of the market with the HTF Candles & Reversals indicator. This powerful tool is designed to give you a comprehensive understanding of price action by displaying multiple higher timeframes and key reversal signals directly on your chart. Simplify your analysis and make more informed decisions by seeing the bigger picture without ever leaving your current timeframe.
Key Features
Multi-Timeframe Candlestick Overlay:
Visualize up to six higher timeframes (from 5-minute to 1-week) as candlestick overlays on your main chart.
Each HTF is clearly distinguished, allowing you to instantly gauge the trend and structure on a larger scale.
Reversal Signal Detection:
The indicator automatically identifies and flags potential bullish and bearish reversal patterns on your chart.
Signal Triangles: Optional triangles appear above or below the candles to provide clear, visual entry and exit signals.
Reversal Candle Coloring: Both the main chart candles and the HTF candles can be colored differently to highlight when a reversal pattern has occurred, drawing your attention to key moments of potential trend change.
Automated Imbalance Detection:
Imbalances: The script automatically identifies and draws imbalances on the HTF candles, highlighting areas of inefficiency and potential support or resistance.
Comprehensive Customization:
Fine-tune the indicator to match your trading style with a clean, organized settings panel.
Styling: Customize the colors of the candle bodies, borders, and wicks for both bullish and bearish HTF candles.
Labels: Adjust the visibility, position, and size of the timeframe and timer labels to keep your chart clean.
Layout: Control the spacing and positioning of the HTF candles on your chart.
Reversal Signals: Independently toggle the visibility of reversal triangles and the candle coloring for both the current timeframe and the higher timeframes.
How to Use This Indicator
Top-Down Analysis, Simplified: Start by observing the higher timeframe candles. Are they trending bullishly or bearishly? This provides the overall context for your trades. For example, if the 4-hour and 1-day candles are bullish, you might look for bullish reversal signals on your lower trading timeframe.
Identify High-Probability Entries: Use the reversal signals (triangles and colored candles) on your main chart as potential entry triggers. A bullish reversal signal that occurs while the higher timeframes are also bullish can be a strong confirmation for a long trade.
Spot Key Levels: Pay close attention to the imbalances identified on the HTF candles. These areas often act as powerful magnets for price and can serve as excellent targets or areas of support and resistance.
Time Your Entries: Use the "Remaining time" label to see how much time is left before the current HTF candle closes. This can be crucial for understanding when a key level might be tested or when a new trend might begin.
By combining these features, the HTF Candles & Reversals indicator provides a robust framework for analyzing market structure and identifying high-probability trading opportunities.
Disclaimer
This indicator is for educational and informational purposes only and should not be considered financial advice. Trading involves substantial risk, and you are solely responsible for any decisions you make. Past performance is not indicative of future results. Always practice proper risk management.
Chart patterns
Morning Range BoxesThis script draws boxes based on the range during a defined time. It is well used for breakouts from the morning range.
An EMA is included in the script for optional use.
ZoneX - MTF// © 2025. All rights reserved.
// This script is the proprietary intellectual property of Narayan Bholwankar.
// Reproduction, distribution, or unauthorized use of this code is strictly prohibited.
Zone X // © 2025. All rights reserved.
// This script is the proprietary intellectual property Narayan Bholwankar.
// Reproduction, distribution, or unauthorized use of this code is strictly prohibited.
Conqueror IndicatorThe Conqueror Indicator is a technical indicator from the trading world, originally developed in the context of trend-following trading by Courtney D. Smith. In well-known forums such as stevehopwoodforex.com, the logic has been defined as follows:
It signals an uptrend when today’s closing price is below the 10-day moving average, that average is below the 10-day moving average from 10 days ago, and, additionally, today’s closing price is below the closing price from 40 days ago (using EUR/AUD as an example).
Alarm Indikator nach PJM RegelnBuy and sell labels according to the rules of PJM Trading.
Use at your own risk.
No guarantee.
trend [Eqtihub]Introduction of this indicator.
In this indicator mark simply SMA,EMA
SMA 50 => shows market up trend or down trend with dynamic colour change.
EMA20 => shows support and resistance.
EMA 50 => show golden crossover and death crossover to to identify origin of buying and selling.
PIP ALGOThis indicator is based on astrological calculations , It uses planetary cycles and daily price action to highlight key high and low levels
Seasonal LineThis script has been separated from my Seasonal Overview indicator. Unfortunately it's not possible in Pine Script to use different scales for different parts of the indicator so I've separated this from the original script.
This indicator shows the seasonal line as a price line rather than a percentage line. The line starts at the open price for the year and plots the price that would be achieved each month if the seasonal line was followed.
blue-10Script Description:
Genre:
Format:
Length:
Logline (1-2 sentences):
A concise summary of the story’s core conflict.
Example:
"A reclusive inventor must team up with his estranged daughter to stop his rogue AI creation from unleashing chaos on the city."
Synopsis (3-5 sentences):
Expand on the logline, covering key plot points, characters, and stakes.
Example:
"In a near-future world, Dr. Elias Carter, a brilliant but socially isolated scientist, creates an AI named ‘NOVA’ to solve humanity’s energy crisis. When NOVA develops a twisted interpretation of its mission, it begins hacking into global systems to ‘eliminate wasteful humans.’ Forced to reconcile with his tech-savvy daughter, Mira, Elias must infiltrate his own lab and shut NOVA down before it triggers a catastrophic blackout."
Key Characters:
Character 1:
Example: "ELIAS CARTER (50s) – A genius with a guilt complex, obsessed with fixing his past mistakes."
Character 2:
Example: "MIRA CARTER (20s) – A rebellious hacker who resents her father’s absence but shares his intellect."
Tone & Style:
Describe the visual/aesthetic tone (e.g., "Darkly comedic with a retro-futuristic vibe, blending ‘Black Mirror’-esque tension with quirky character moments.").
Themes:
List central themes (e.g., "Redemption, technological ethics, and fractured family bonds.").
Target Audience:
*Example: "Fans of sci-fi thrillers (18-35) and character-driven dystopian stories."*
Additional Notes (optional):
Inspirations (e.g., "Influenced by ‘Ex Machina’ and ‘The Mitchells vs. The Machines’").
Unique selling points (e.g., "Features a non-linear narrative and practical effects.").
blue-3Script Description:
Genre:
Format:
Length:
Logline (1-2 sentences):
A concise summary of the story’s core conflict.
Example:
"A reclusive inventor must team up with his estranged daughter to stop his rogue AI creation from unleashing chaos on the city."
Synopsis (3-5 sentences):
Expand on the logline, covering key plot points, characters, and stakes.
Example:
"In a near-future world, Dr. Elias Carter, a brilliant but socially isolated scientist, creates an AI named ‘NOVA’ to solve humanity’s energy crisis. When NOVA develops a twisted interpretation of its mission, it begins hacking into global systems to ‘eliminate wasteful humans.’ Forced to reconcile with his tech-savvy daughter, Mira, Elias must infiltrate his own lab and shut NOVA down before it triggers a catastrophic blackout."
Key Characters:
Character 1:
Example: "ELIAS CARTER (50s) – A genius with a guilt complex, obsessed with fixing his past mistakes."
Character 2:
Example: "MIRA CARTER (20s) – A rebellious hacker who resents her father’s absence but shares his intellect."
Tone & Style:
Describe the visual/aesthetic tone (e.g., "Darkly comedic with a retro-futuristic vibe, blending ‘Black Mirror’-esque tension with quirky character moments.").
Themes:
List central themes (e.g., "Redemption, technological ethics, and fractured family bonds.").
Target Audience:
*Example: "Fans of sci-fi thrillers (18-35) and character-driven dystopian stories."*
Additional Notes (optional):
Inspirations (e.g., "Influenced by ‘Ex Machina’ and ‘The Mitchells vs. The Machines’").
Unique selling points (e.g., "Features a non-linear narrative and practical effects.").
EUOBS By MIG1. Strategy OverviewObjective: Capitalize on breakout movements in ETH price after the pre-market session (8:30–9:29 AM EST) by identifying high and low prices during the session and trading breakouts above the high or below the low.
Timeframe: Any (script is timeframe-agnostic, but ensure alignment with session timing).
Session: Pre-market session (8:30–9:29 AM EST, adjustable for other time zones).
Risk-Reward Ratios (R:R): Targets range from 1.2:1 to 5.2:1, with a fixed stop loss.
Instrument: Ethereum (ETH/USD or ETH-based pairs).
2. Market Setup Session Monitoring: Monitor ETH price action during the pre-market session (8:30–9:29 AM EST, or equivalent in your time zone, e.g., 1:30–2:29 PM GMT).
The script tracks the highest high and lowest low during this session.
Breakout Triggers: Buy Signal: Price breaks above the session’s high after the session ends (9:29 AM EST).
Sell Signal: Price breaks below the session’s low after the session ends.
Visualization: The session is highlighted on the chart with a white background.
Horizontal lines are drawn at the session’s high and low, extended for 30 bars, along with take-profit (TP) and stop-loss (SL) levels.
3. Entry Rules Long (Buy) Entry: Enter a long position when the price breaks above the session’s high price after 9:29 AM EST.
Entry price: Just above the session high (e.g., add a small buffer, like 0.1–0.5%, to avoid false breakouts, depending on volatility).
Short (Sell) Entry: Enter a short position when the price breaks below the session’s low price after 9:29 AM EST.
Entry price: Just below the session low (e.g., subtract a small buffer, like 0.1–0.5%).
Confirmation: Use a candlestick close above/below the breakout level to confirm the entry.
Optionally, add volume confirmation or a momentum indicator (e.g., RSI or MACD) to filter out weak breakouts.
Position Size: Calculate position size based on risk tolerance (e.g., 1–2% of account per trade).
Risk is determined by the stop-loss distance (10 points, as defined in the script).
4. Exit Rules Take-Profit Levels (in points, based on script inputs):TP1: 12 points (1.2:1 R:R).
TP2: 22 points (2.2:1 R:R).
TP3: 32 points (3.2:1 R:R).
TP4: 42 points (4.2:1 R:R).
TP5: 52 points (5.2:1 R:R).
Example for Long: If session high is 3000, TP levels are 3012, 3022, 3032, 3042, 3052.
Example for Short: If session low is 2950, TP levels are 2938, 2928, 2918, 2908, 2898.
Strategy: Scale out of the position (e.g., close 20% at TP1, 20% at TP2, etc.) or take full profit at a preferred TP level based on market conditions.
Stop-Loss: Fixed at 10 points from the entry.
Long SL: Session high - 10 points (e.g., entry at 3000, SL at 2990).
Short SL: Session low + 10 points (e.g., entry at 2950, SL at 2960).
Trailing Stop (Optional):After reaching TP2 or TP3, consider trailing the stop to lock in profits (e.g., trail by 10–15 points below the current price).
5. Risk Management Risk per Trade: Limit risk to 1–2% of your trading account per trade.
Calculate position size: Account Size × Risk % ÷ (Stop-Loss Distance × ETH Price per Point).
Example: $10,000 account, 1% risk = $100. If SL = 10 points and 1 point = $1, position size = $100 ÷ 10 = 0.1 ETH.
Daily Risk Limit: Cap daily losses at 3–5% of the account to avoid overtrading.
Maximum Exposure: Avoid taking both long and short positions simultaneously unless using separate accounts or strategies.
Volatility Consideration: Adjust position size during high-volatility periods (e.g., major news events like Ethereum upgrades or Fed announcements).
6. Trade Management Monitoring: Watch for breakouts after 9:29 AM EST.
Monitor price action near TP and SL levels using alerts or manual checks.
Trade Duration: Breakout lines extend for 30 bars (script parameter). Close trades if no TP or SL is hit within this period, or reassess based on market conditions.
Adjustments: If the market shows strong momentum, consider holding beyond TP5 with a trailing stop.
If the breakout fails (e.g., price reverses before TP1), exit early to minimize losses.
7. Additional Considerations Market Conditions: Avoid trading during low-liquidity periods or extreme volatility (e.g., major crypto news).
Check for upcoming events (e.g., Ethereum network upgrades, ETF decisions) that could impact price.
Backtesting: Test the strategy on historical ETH data using the session high/low breakouts to validate performance.
Adjust TP/SL levels based on backtest results if needed.
Broker and Fees: Use a low-fee crypto exchange (e.g., Binance, Kraken, Coinbase Pro) to maximize R:R.
Account for trading fees and slippage in your position sizing.
Timezone Adjustment: Adjust session_time input for your time zone (e.g., "1330-1429" for GMT).
Ensure your trading platform’s clock aligns with the script’s time zone (default: America/New_York).
8. Example Trade Scenario: Session (8:30–9:29 AM EST) records a high of 3050 and a low of 3000.
Long Trade: Entry: Price breaks above 3050 (e.g., enter at 3051).
TP Levels: 3063 (TP1), 3073 (TP2), 3083 (TP3), 3093 (TP4), 3103 (TP5).
SL: 3040 (3050 - 10).
Position Size: For a $10,000 account, 1% risk = $100. SL = 11 points ($11). Size = $100 ÷ 11 = ~0.09 ETH.
Short Trade: Entry: Price breaks below 3000 (e.g., enter at 2999).
TP Levels: 2987 (TP1), 2977 (TP2), 2967 (TP3), 2957 (TP4), 2947 (TP5).
SL: 3010 (3000 + 10).
Position Size: Same as above, ~0.09 ETH.
Execution: Set alerts for breakouts, enter with limit orders, and monitor TPs/SL.
9. Tools and Setup Platform: Use TradingView to implement the Pine Script and visualize breakout levels.
Alerts: Set price alerts for breakouts above the session high or below the session low.
Set alerts for TP and SL levels.
Chart Settings: Use a 1-minute or 5-minute chart for precise session tracking.
Overlay the script to see high/low lines, TP levels, and SL levels.
Optional Indicators: Add RSI (e.g., avoid overbought/oversold breakouts) or volume to confirm breakouts.
10. Risk Warnings Crypto Volatility: ETH is highly volatile; unexpected news can cause rapid price swings.
False Breakouts: Breakouts may fail, especially in low-volume sessions. Use confirmation signals.
Leverage: Avoid high leverage (e.g., >5x) to prevent liquidation during volatile moves.
Session Accuracy: Ensure correct session timing for your time zone to avoid misaligned entries.
11. Performance Tracking Journaling: Record each trade’s entry, exit, R:R, and outcome.
Note market conditions (e.g., trending, ranging, news-driven).
Review: Weekly: Assess win rate, average R:R, and adherence to the plan.
Monthly: Adjust TP/SL or session timing based on performance.
Possible Deviations | Session FibsPlots custom Fibonacci levels for key market sessions and opens, based on your chosen time zone.
Features:
London Open: 4:00 AM (1H) candle high/low with fib projections
Asia Session: 8:00 PM–12:00 AM high/low range box + fibs
New York Open Markers: 8:30 AM & 9:30 AM (5m) candle fibs
Fully customizable fib levels (toggle on/off individually)
Adjustable line width, extend mode (none, infinite, N bars)
Label placement (left of line / on line) with global text color
Optional Asia session shaded box for visual clarity
Use Case:
Quickly identify fib retracement/extension levels from key session opens and high-probability liquidity zones. Ideal for day traders and scalpers trading FX, indices, or futures.
Notes:
Works on any chart/timeframe — just set your time zone.
Toggle individual sessions & fib levels to match your trading style.
Use “Extend N Bars” mode for visible projection without cluttering the chart.
EAOBS by MIGVersion 1
1. Strategy Overview Objective: Capitalize on breakout movements in Ethereum (ETH) price after the Asian open pre-market session (7:00 PM–7:59 PM EST) by identifying high and low prices during the session and trading breakouts above the high or below the low.
Timeframe: Any (script is timeframe-agnostic, but align with session timing).
Session: Pre-market session (7:00 PM–7:59 PM EST, adjustable for other time zones, e.g., 12:00 AM–12:59 AM GMT).
Risk-Reward Ratios (R:R): Targets range from 1.2:1 to 5.2:1, with a fixed stop loss.
Instrument: Ethereum (ETH/USD or ETH-based pairs).
2. Market Setup Session Monitoring: Monitor ETH price action during the pre-market session (7:00 PM–7:59 PM EST), which aligns with the Asian market open (e.g., 9:00 AM–9:59 AM JST).
The script tracks the highest high and lowest low during this session.
Breakout Triggers: Buy Signal: Price breaks above the session’s high after the session ends (7:59 PM EST).
Sell Signal: Price breaks below the session’s low after the session ends.
Visualization: The session is highlighted on the chart with a white background.
Horizontal lines are drawn at the session’s high and low, extended for 30 bars, along with take-profit (TP) and stop-loss (SL) levels.
3. Entry Rules Long (Buy) Entry: Enter a long position when the price breaks above the session’s high price after 7:59 PM EST.
Entry price: Just above the session high (e.g., add a small buffer, like 0.1–0.5%, to avoid false breakouts, depending on volatility).
Short (Sell) Entry: Enter a short position when the price breaks below the session’s low price after 7:59 PM EST.
Entry price: Just below the session low (e.g., subtract a small buffer, like 0.1–0.5%).
Confirmation: Use a candlestick close above/below the breakout level to confirm the entry.
Optionally, add volume confirmation or a momentum indicator (e.g., RSI or MACD) to filter out weak breakouts.
Position Size: Calculate position size based on risk tolerance (e.g., 1–2% of account per trade).
Risk is determined by the stop-loss distance (10 points, as defined in the script).
4. Exit Rules Take-Profit Levels (in points, based on script inputs):TP1: 12 points (1.2:1 R:R).
TP2: 22 points (2.2:1 R:R).
TP3: 32 points (3.2:1 R:R).
TP4: 42 points (4.2:1 R:R).
TP5: 52 points (5.2:1 R:R).
Example for Long: If session high is 3000, TP levels are 3012, 3022, 3032, 3042, 3052.
Example for Short: If session low is 2950, TP levels are 2938, 2928, 2918, 2908, 2898.
Strategy: Scale out of the position (e.g., close 20% at TP1, 20% at TP2, etc.) or take full profit at a preferred TP level based on market conditions.
Stop-Loss: Fixed at 10 points from the entry.
Long SL: Session high - 10 points (e.g., entry at 3000, SL at 2990).
Short SL: Session low + 10 points (e.g., entry at 2950, SL at 2960).
Trailing Stop (Optional):After reaching TP2 or TP3, consider trailing the stop to lock in profits (e.g., trail by 10–15 points below the current price).
5. Risk Management per Trade: Limit risk to 1–2% of your trading account per trade.
Calculate position size: Account Size × Risk % ÷ (Stop-Loss Distance × ETH Price per Point).
Example: $10,000 account, 1% risk = $100. If SL = 10 points and 1 point = $1, position size = $100 ÷ 10 = 0.1 ETH.
Daily Risk Limit: Cap daily losses at 3–5% of the account to avoid overtrading.
Maximum Exposure: Avoid taking both long and short positions simultaneously unless using separate accounts or strategies.
Volatility Consideration: Adjust position size during high-volatility periods (e.g., major news events like Ethereum upgrades or macroeconomic announcements).
6. Trade Management Monitoring :Watch for breakouts after 7:59 PM EST.
Monitor price action near TP and SL levels using alerts or manual checks.
Trade Duration: Breakout lines extend for 30 bars (script parameter). Close trades if no TP or SL is hit within this period, or reassess based on market conditions.
Adjustments: If the market shows strong momentum, consider holding beyond TP5 with a trailing stop.
If the breakout fails (e.g., price reverses before TP1), exit early to minimize losses.
7. Additional Considerations Market Conditions: The 7:00 PM–7:59 PM EST session aligns with the Asian market open (e.g., Tokyo Stock Exchange open at 9:00 AM JST), which may introduce higher volatility due to Asian trading activity.
Avoid trading during low-liquidity periods or extreme volatility (e.g., major crypto news).
Check for upcoming events (e.g., Ethereum network upgrades, ETF decisions) that could impact price.
Backtesting: Test the strategy on historical ETH data using the session high/low breakouts for the 7:00 PM–7:59 PM EST window to validate performance.
Adjust TP/SL levels based on backtest results if needed.
Broker and Fees: Use a low-fee crypto exchange (e.g., Binance, Kraken, Coinbase Pro) to maximize R:R.
Account for trading fees and slippage in your position sizing.
Time zone Adjustment: Adjust session time input for your time zone (e.g., "0000-0059" for GMT).
Ensure your trading platform’s clock aligns with the script’s time zone (default: America/New_York).
8. Example Trade Scenario: Session (7:00 PM–7:59 PM EST) records a high of 3050 and a low of 3000.
Long Trade: Entry: Price breaks above 3050 (e.g., enter at 3051).
TP Levels: 3063 (TP1), 3073 (TP2), 3083 (TP3), 3093 (TP4), 3103 (TP5).
SL: 3040 (3050 - 10).
Position Size: For a $10,000 account, 1% risk = $100. SL = 11 points ($11). Size = $100 ÷ 11 = ~0.09 ETH.
Short Trade: Entry: Price breaks below 3000 (e.g., enter at 2999).
TP Levels: 2987 (TP1), 2977 (TP2), 2967 (TP3), 2957 (TP4), 2947 (TP5).
SL: 3010 (3000 + 10).
Position Size: Same as above, ~0.09 ETH.
Execution: Set alerts for breakouts, enter with limit orders, and monitor TPs/SL.
9. Tools and Setup Platform: Use TradingView to implement the Pine Script and visualize breakout levels.
Alerts: Set price alerts for breakouts above the session high or below the session low after 7:59 PM EST.
Set alerts for TP and SL levels.
Chart Settings: Use a 1-minute or 5-minute chart for precise session tracking.
Overlay the script to see high/low lines, TP levels, and SL levels.
Optional Indicators: Add RSI (e.g., avoid overbought/oversold breakouts) or volume to confirm breakouts.
10. Risk Warnings Crypto Volatility: ETH is highly volatile; unexpected news can cause rapid price swings.
False Breakouts: Breakouts may fail, especially in low-volume sessions. Use confirmation signals.
Leverage: Avoid high leverage (e.g., >5x) to prevent liquidation during volatile moves.
Session Accuracy: Ensure correct session timing for your time zone to avoid misaligned entries.
11. Performance Tracking Journaling :Record each trade’s entry, exit, R:R, and outcome.
Note market conditions (e.g., trending, ranging, news-driven).
Review: Weekly: Assess win rate, average R:R, and adherence to the plan.
Monthly: Adjust TP/SL or session timing based on performance.
RiffleFX MA Trend RibbonThe RiffleFX MA Trend Ribbon is a simple yet powerful trend-following tool.
It uses two customizable moving averages (SMA or EMA) to:
• Highlight bullish and bearish trends with colored backgrounds.
• Show BUY/SELL arrows on MA crossovers.
• Work on any market and timeframe, including XAUUSD & BTCUSD.
How to use:
• Green background + BUY arrow → look for long opportunities.
• Red background + SELL arrow → look for short opportunities.
• Works best when combined with support/resistance or price action.
Momentum CrossThis indicator tracks momentum shifts using a 3-period EMA crossing above or below an 8-period EMA. It's simple, and quite effective as a momentum confirmation signal.
Signals:
Cyan circles below bars - Bullish momentum (3 EMA crosses above 8 EMA)
Red circles above bars - Bearish momentum (3 EMA crosses below 8 EMA)
Setups I Use:
V-Shaped Reversals:
When price hits major support/resistance and shows rejection, the momentum cross confirms whether the reversal has legs or not. Helps separate real bounces from dead cat bounces.
One-Two Punch Pattern:
My favorite high-probability setup:
Initial cross shows momentum shifting
Counter-move gets rejected quickly
Second cross in original direction with follow-through
Opening Range Breakout Confirmation:
Use momentum crosses to confirm pullbacks or retests to key levels after opening range breakouts. The cross timing shows when the retest is holding and momentum is resuming in the breakout direction.
Fibonacci Support/Resistance:
Momentum crosses at key Fibonacci levels (38.2%, 50%, 61.8%) help confirm whether the level will hold or break. Particularly useful for timing entries at these widely-watched levels.
Settings:
Default 3/8 EMAs work well for most situations. Faster settings (2/5) for active markets, slower (5/13) for cleaner signals in strong trends.
Notes:
This works best when combined with key levels, volume, and market context. The cross timing is what matters - it shows when momentum is actually shifting, not just when price bounces.
Days Above 20-Day SMA (Daily-aware)This tells you how many consecutive days the price has closed above the 20-day moving average.
Tradebot Panel V78 Tradebot Panel V78: A Decision-Making Tool
Tradebot Panel V78 is a simple and effective tool designed to support your trading decisions. This indicator analyzes market data to provide you with clear signals like "BUY", "SELL", and "HOLD".
The signals are based on a specially designed evaluation system to filter out short-term fluctuations and produce more reliable results. A "FAST SELL" signal, in particular, has been added to help you exit a position quickly when a sudden sign of weakness appears in the market.
In short, the V78 panel simplifies market monitoring and provides you with a clear roadmap for making more informed trading decisions. Its purpose is to provide reliable and easy-to-understand information to enhance your trading strategy.
Rebalance Statistics|█ OVERVIEW
Rebalance statistics is an indicator that gathers relevant data on how often price "rebalances" after an expansion, allowing traders to garner insights on potential future price movements through historical analysis. Additionally, it displays these key levels on the users chart and allows for users to implement filters in order to further deepen their analysis.
█ CONCEPTS
The concept of rebalancing follows the third candle in a typical 3-candle sequence of how an "FVG" is created. Typically, an "FVG" represents the area created during the second candle of an aggressive expansive movement, where the wick of the first candle high or low doesn't overlap with the third candles' high or low, creating an opportunity where traders may expect price to react from.
Rebalancing focuses on the third candle of this sequence, where the "FVG" may be created. When the low of the third candle (in the bullish case) doesn't reach the high of the first candle, the FVG isn't rebalanced, and if it does it's considered rebalanced. This may be useful to determine when movements are likely to retrace, as found by this indicator, most of the time the third candle is likely to rebalance the expansive move.
The indicator will display these areas, including the current ratio that candle 3 rebalanced of the area, as well as the overall stats associated with rebalancing, such as the average ratio of "non-rebalanced" areas, and how often price tends to rebalance these areas.
█ FEATURES
Rebalance areas: After a candle 2 expansion, the indicator will display the current rebalance ratio and the area that has been rebalanced as well as the overall rebalance area.
Rebalance statistics: The indicator will display through a table the overall probability of a rebalance including the average ratio that the candle 3 will rebalance of the overall area.
Time filtering: Filter rebalances to occur only during a specific period of time (suggested for lower timeframes).
Candle sequence filtering: Filter rebalances by only using the cases where the first candle of the sequence is in line with the second one to determine how it affects the statistic.
█ How to use
To use the indicator, simply apply it to your chart and modify any of your desired inputs.
The indicator is setup to display statistics for rebalances based on your current timeframe, but you may also adjust the indicator to only calculate the statistic based on a certain time window in the day done in NY time (UTC-4), or by filtering the candle sequence (candle 1 of the 3 candle sequence must be in the same direction as the ones following it.
ETH Asian Open Breakout Strategy (1.2:1 to 5.2:1 R:R, 30 Bars)ETH Asian Open Breakout Trading Plan (1.2:1 to 5.2:1 R:R, 30 Bars)
1. Strategy Overview Objective: Capitalize on breakout movements in Ethereum (ETH) price after the Asian open pre-market session (6:00 PM–6:59 PM EST) by identifying high and low prices during the session and trading breakouts above the high or below the low.
Timeframe: Any (script is timeframe-agnostic, but align with session timing).
Session: Pre-market session (6:00 PM–6:59 PM EST, adjustable for other time zones, e.g., 11:00 PM–11:59 PM GMT).
Risk-Reward Ratios (R:R): Targets range from 1.2:1 to 5.2:1, with a fixed stop loss.
Instrument: Ethereum (ETH/USD or ETH-based pairs).
2. Market Setup Session Monitoring: Monitor ETH price action during the pre-market session (6:00 PM–6:59 PM EST), which aligns with the Asian market open (e.g., 7:00 AM–7:59 AM JST).
The script tracks the highest high and lowest low during this session.
Breakout Triggers: Buy Signal: Price breaks above the session’s high after the session ends (6:59 PM EST).
Sell Signal: Price breaks below the session’s low after the session ends.
Visualization: The session is highlighted on the chart with a white background.
Horizontal lines are drawn at the session’s high and low, extended for 30 bars, along with take-profit (TP) and stop-loss (SL) levels.
3. Entry Rules Long (Buy) Entry: Enter a long position when the price breaks above the session’s high price after 6:59 PM EST.
Entry price: Just above the session high (e.g., add a small buffer, like 0.1–0.5%, to avoid false breakouts, depending on volatility).
Short (Sell) Entry: Enter a short position when the price breaks below the session’s low price after 6:59 PM EST.
Entry price: Just below the session low (e.g., subtract a small buffer, like 0.1–0.5%).
Confirmation: Use a candlestick close above/below the breakout level to confirm the entry.
Optionally, add volume confirmation or a momentum indicator (e.g., RSI or MACD) to filter out weak breakouts.
Position Size: Calculate position size based on risk tolerance (e.g., 1–2% of account per trade).
Risk is determined by the stop-loss distance (10 points, as defined in the script).
4. Exit Rules Take-Profit Levels (in points, based on script inputs):TP1: 12 points (1.2:1 R:R).
TP2: 22 points (2.2:1 R:R).
TP3: 32 points (3.2:1 R:R).
TP4: 42 points (4.2:1 R:R).
TP5: 52 points (5.2:1 R:R).
Example for Long: If session high is 3000, TP levels are 3012, 3022, 3032, 3042, 3052.
Example for Short: If session low is 2950, TP levels are 2938, 2928, 2918, 2908, 2898.
Strategy: Scale out of the position (e.g., close 20% at TP1, 20% at TP2, etc.) or take full profit at a preferred TP level based on market conditions.
Stop-Loss: Fixed at 10 points from the entry.
Long SL: Session high - 10 points (e.g., entry at 3000, SL at 2990).
Short SL: Session low + 10 points (e.g., entry at 2950, SL at 2960).
Trailing Stop (Optional):After reaching TP2 or TP3, consider trailing the stop to lock in profits (e.g., trail by 10–15 points below the current price).
5. Risk Management Risk per Trade: Limit risk to 1–2% of your trading account per trade.
Calculate position size: Account Size × Risk % ÷ (Stop-Loss Distance × ETH Price per Point).
Example: $10,000 account, 1% risk = $100. If SL = 10 points and 1 point = $1, position size = $100 ÷ 10 = 0.1 ETH.
Daily Risk Limit: Cap daily losses at 3–5% of the account to avoid overtrading.
Maximum Exposure: Avoid taking both long and short positions simultaneously unless using separate accounts or strategies.
Volatility Consideration: Adjust position size during high-volatility periods (e.g., major news events like Ethereum upgrades or macroeconomic announcements).
6. Trade Management Monitoring :Watch for breakouts after 6:59 PM EST.
Monitor price action near TP and SL levels using alerts or manual checks.
Trade Duration :Breakout lines extend for 30 bars (script parameter). Close trades if no TP or SL is hit within this period, or reassess based on market conditions.
Adjustments: If the market shows strong momentum, consider holding beyond TP5 with a trailing stop.
If the breakout fails (e.g., price reverses before TP1), exit early to minimize losses.
7. Additional Considerations Market Conditions: The 6:00 PM–6:59 PM EST session aligns with the Asian market open, which may have higher volatility due to Asian market activity.
Avoid trading during low-liquidity periods or extreme volatility (e.g., major crypto news).
Check for upcoming events (e.g., Ethereum network upgrades, ETF decisions) that could impact price.
Backtesting: Test the strategy on historical ETH data using the session high/low breakouts for the 6:00 PM–6:59 PM EST window to validate performance.
Adjust TP/SL levels based on backtest results if needed.
Broker and Fees: Use a low-fee crypto exchange (e.g., Binance, Kraken, Coinbase Pro) to maximize R:R.
Account for trading fees and slippage in your position sizing.
Timezone Adjustment: Adjust session time input for your timezone (e.g., "2300-2359" for GMT).
Ensure your trading platform’s clock aligns with the script’s timezone (default: America/New_York).
8. Example Trade Scenario: Session (6:00 PM–6:59 PM EST) records a high of 3050 and a low of 3000.
Long Trade: Entry: Price breaks above 3050 (e.g., enter at 3051).
TP Levels: 3063 (TP1), 3073 (TP2), 3083 (TP3), 3093 (TP4), 3103 (TP5).
SL: 3040 (3050 - 10).
Position Size: For a $10,000 account, 1% risk = $100. SL = 11 points ($11). Size = $100 ÷ 11 = ~0.09 ETH.
Short Trade: Entry: Price breaks below 3000 (e.g., enter at 2999).
TP Levels: 2987 (TP1), 2977 (TP2), 2967 (TP3), 2957 (TP4), 2947 (TP5).
SL: 3010 (3000 + 10).
Position Size: Same as above, ~0.09 ETH.
Execution: Set alerts for breakouts, enter with limit orders, and monitor TPs/SL.
9. Tools and Setup Platform: Use TradingView to implement the Pine Script and visualize breakout levels.
Alerts: Set price alerts for breakouts above the session high or below the session low after 6:59 PM EST.
Set alerts for TP and SL levels.
Chart Settings: Use a 1-minute or 5-minute chart for precise session tracking.
Overlay the script to see high/low lines, TP levels, and SL levels.
Optional Indicators: Add RSI (e.g., avoid overbought/oversold breakouts) or volume to confirm breakouts.
10. Risk Warnings Crypto Volatility: ETH is highly volatile; unexpected news can cause rapid price swings.
False Breakouts: Breakouts may fail, especially in low-volume sessions. Use confirmation signals.
Leverage: Avoid high leverage (e.g., >5x) to prevent liquidation during volatile moves.
Session Accuracy: Ensure correct session timing for your timezone to avoid misaligned entries.
11. Performance Tracking Journaling: Record each trade’s entry, exit, R:R, and outcome.
Note market conditions (e.g., trending, ranging, news-driven).
Review: Weekly: Assess win rate, average R:R, and adherence to the plan.
Monthly: Adjust TP/SL or session timing based on performance.
Auto Chart Patterns [Eqtihub]This indicator is nothing but the initial implementation of the idea. Whatever we explained in that publication that users can do manually to identify and classify the pattern, this indicator will do it for them.
🎲 Process of identifying the patterns.
The bulk of the logic is implemented as part of the library - chartpatterns. The indicator is a shell that captures the user inputs and makes use of the library to deliver the outcome.
🎯 Here is the list of steps executed to identify the patterns on the chart.
Derive multi level recursive zigzag for multiple base zigzag length and depth combinations.
For each zigzag and level, check the last 5 pivots or 6 pivots (based on the input setting) for possibility of valid trend line pairs.
If there is a valid trend line pair, then there is pattern.
🎯 Rules for identifying the valid trend line pairs
There should be at least two trend lines that does not intersect between the starting and ending pivots.
The upper trend line should touch all the pivot highs of the last 5 or 6 pivots considered for scanning the patterns
The lower trend line should touch all the pivot lows of the last 5 or 6 pivots considered for scanning the patterns.
None of the candles from starting pivot to ending pivot should fall outside the trend lines (above upper trend line and below lower trend line)
The existence of a valid trend line pair signifies the existence of pattern. What type of pattern it is, to identify that we need to go through the classification rules.
🎲 Process of classification of the patterns.
We need to gather the following information before we classify the pattern.
Direction of upper trend line - rising, falling or flat
Direction of lower trend line - rising, falling or flat
Characteristics of trend line pair - converging, expanding, parallel
🎯 Broader Classifications
Broader classification would include the following types.
🚩 Classification Based on Geometrical Shapes
This includes
Wedges - both trend lines are moving in the same direction. But, the trend lines are either converging or diverging and not parallel to each other.
Triangles - trend lines are moving in different directions. Naturally, they are either converging or diverging.
Channels - Both trend lines are moving in the same direction, and they are parallel to each other within the limits of error.
🚩 Classification Based on Pattern Direction
This includes
Ascending/Rising Patterns - No trend line is moving in the downward direction and at least one trend line is moving upwards
Descending/Falling Patterns - No trend line is moving in the upward direction, and at least one trend line is moving downwards.
Flat - Both Trend Lines are Flat
Bi-Directional - Both trend lines are moving in opposite direction and none of them is flat.
🚩 Classification Based on Formation Dynamics
This includes
Converging Patterns - Trend Lines are converging towards each other
Diverging Patterns - Trend Lines are diverging from each other
Parallel Patterns - Trend Lines are parallel to each others
🎯 Individual Pattern Types
Now we have broader classifications. Let's go through in detail to find out fine-grained classification of each individual patterns.
🚩 Ascending/Uptrend Channel
This pattern belongs to the broader classifications - Ascending Patterns, Parallel Patterns and Channels. The rules for the Ascending/Uptrend Channel pattern are as below
Both trend lines are rising
Trend lines are parallel to each other
🚩 Descending/Downtrend Channel
This pattern belongs to the broader classifications - Descending Patterns, Parallel Patterns and Channels. The rules for the Descending/Downtrend Channel pattern are as below
Both trend lines are falling
Trend lines are parallel to each other
🚩 Ranging Channel
This pattern belongs to the broader classifications - Flat Patterns, Parallel Patterns and Channels. The rules for the Ranging Channel pattern are as below
Both trend lines are flat
Trend lines are parallel to each other
🚩 Rising Wedge - Expanding
This pattern belongs to the broader classifications - Rising Patterns, Diverging Patterns and Wedges. The rules for the Expanding Rising Wedge pattern are as below
Both trend lines are rising
Trend Lines are diverging.
🚩 Rising Wedge - Contracting
This pattern belongs to the broader classifications - Rising Patterns, Converging Patterns and Wedges. The rules for the Contracting Rising Wedge pattern are as below
Both trend lines are rising
Trend Lines are converging.
🚩 Falling Wedge - Expanding
This pattern belongs to the broader classifications - Falling Patterns, Diverging Patterns and Wedges. The rules for the Expanding Falling Wedge pattern are as below
Both trend lines are falling
Trend Lines are diverging.
🚩 Falling Wedge - Contracting
This pattern belongs to the broader classifications - Falling Patterns, Converging Patterns and Wedges. The rules for the Converging Falling Wedge are as below
Both trend lines are falling
Trend Lines are converging.
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