Trade Calculator {Phanchai}Trade Calculator 🧮 {Phanchai} — Documentation
A lightweight sizing helper for TradingView that turns your risk per trade into an estimated maximum nominal position size — using the most recent chart low as your stop reference. Built for speed and clarity right on the chart.
Key Features
Clean on-chart info table with configurable font size and position.
Row toggles: show/hide each line (Price, Last Low, Risk per Trade, Entry − Low, SL to Low %, Max. Nominal Value in USDT).
Configurable low reference: Last N bars or Running since load .
Low label placed exactly at the wick of the lowest bar (no horizontal line).
Custom padding: add extra rows above/below and blank columns left/right (with custom whitespace/text fillers) to fine-tune layout.
Integer display for Risk per Trade (USDT) and Max. Nominal Value (USDT); decimals configurable elsewhere.
Open source script — easy to read and extend.
How to Use
Add the indicator: open TradingView → Indicators → paste the source code → Add to chart.
Pick your low reference in settings:
Last N bars — uses the lowest low within your chosen lookback.
Running since load — tracks the lowest low since the script loaded.
Set your capital and risk:
Total Capital — your account size in USDT.
Max. invest Capital per Trade (%) — your risk per trade as a percent of Total Capital.
Tidy the table:
Use Table Position and Table Size to place it.
Add Extra rows/columns and set left/right fillers (spaces allowed) for padding.
Toggle individual rows (on/off) to show only what you need.
Read the numbers:
Act. Price in USDT — current close.
Last Low in USDT — stop reference price.
Risk per Trade — whole-USDT value of your risk budget for this trade.
Entry − Low — absolute risk per unit.
SL to Low (%) — percentage distance from price to low.
Max. Nominal Value in USDT — estimated max nominal position size given your risk budget and stop at the low.
Scope
This calculator is designed for long trades only (stop below price at the chart low).
Notes & Assumptions
Does not factor fees, funding, slippage, tick size, or broker/venue position limits.
“Running since load” updates as new lows appear; “Last N bars” uses only the selected lookback window.
If price equals the low (zero distance), sizing will be undefined (division by zero guarded as “—”).
Risk Warning
Trading involves substantial risk. Always double-check every value the calculator shows, confirm your stop distance, and verify position sizing with your broker/platform before entering any order. Never risk money you cannot afford to lose.
Open Source & Feedback
The source code is open. If you spot a bug or have an idea to improve the tool, feel free to share suggestions — I’m happy to iterate and make it better.
Search in scripts for "low"
Markov Chain [3D] | FractalystWhat exactly is a Markov Chain?
This indicator uses a Markov Chain model to analyze, quantify, and visualize the transitions between market regimes (Bull, Bear, Neutral) on your chart. It dynamically detects these regimes in real-time, calculates transition probabilities, and displays them as animated 3D spheres and arrows, giving traders intuitive insight into current and future market conditions.
How does a Markov Chain work, and how should I read this spheres-and-arrows diagram?
Think of three weather modes: Sunny, Rainy, Cloudy.
Each sphere is one mode. The loop on a sphere means “stay the same next step” (e.g., Sunny again tomorrow).
The arrows leaving a sphere show where things usually go next if they change (e.g., Sunny moving to Cloudy).
Some paths matter more than others. A more prominent loop means the current mode tends to persist. A more prominent outgoing arrow means a change to that destination is the usual next step.
Direction isn’t symmetric: moving Sunny→Cloudy can behave differently than Cloudy→Sunny.
Now relabel the spheres to markets: Bull, Bear, Neutral.
Spheres: market regimes (uptrend, downtrend, range).
Self‑loop: tendency for the current regime to continue on the next bar.
Arrows: the most common next regime if a switch happens.
How to read: Start at the sphere that matches current bar state. If the loop stands out, expect continuation. If one outgoing path stands out, that switch is the typical next step. Opposite directions can differ (Bear→Neutral doesn’t have to match Neutral→Bear).
What states and transitions are shown?
The three market states visualized are:
Bullish (Bull): Upward or strong-market regime.
Bearish (Bear): Downward or weak-market regime.
Neutral: Sideways or range-bound regime.
Bidirectional animated arrows and probability labels show how likely the market is to move from one regime to another (e.g., Bull → Bear or Neutral → Bull).
How does the regime detection system work?
You can use either built-in price returns (based on adaptive Z-score normalization) or supply three custom indicators (such as volume, oscillators, etc.).
Values are statistically normalized (Z-scored) over a configurable lookback period.
The normalized outputs are classified into Bull, Bear, or Neutral zones.
If using three indicators, their regime signals are averaged and smoothed for robustness.
How are transition probabilities calculated?
On every confirmed bar, the algorithm tracks the sequence of detected market states, then builds a rolling window of transitions.
The code maintains a transition count matrix for all regime pairs (e.g., Bull → Bear).
Transition probabilities are extracted for each possible state change using Laplace smoothing for numerical stability, and frequently updated in real-time.
What is unique about the visualization?
3D animated spheres represent each regime and change visually when active.
Animated, bidirectional arrows reveal transition probabilities and allow you to see both dominant and less likely regime flows.
Particles (moving dots) animate along the arrows, enhancing the perception of regime flow direction and speed.
All elements dynamically update with each new price bar, providing a live market map in an intuitive, engaging format.
Can I use custom indicators for regime classification?
Yes! Enable the "Custom Indicators" switch and select any three chart series as inputs. These will be normalized and combined (each with equal weight), broadening the regime classification beyond just price-based movement.
What does the “Lookback Period” control?
Lookback Period (default: 100) sets how much historical data builds the probability matrix. Shorter periods adapt faster to regime changes but may be noisier. Longer periods are more stable but slower to adapt.
How is this different from a Hidden Markov Model (HMM)?
It sets the window for both regime detection and probability calculations. Lower values make the system more reactive, but potentially noisier. Higher values smooth estimates and make the system more robust.
How is this Markov Chain different from a Hidden Markov Model (HMM)?
Markov Chain (as here): All market regimes (Bull, Bear, Neutral) are directly observable on the chart. The transition matrix is built from actual detected regimes, keeping the model simple and interpretable.
Hidden Markov Model: The actual regimes are unobservable ("hidden") and must be inferred from market output or indicator "emissions" using statistical learning algorithms. HMMs are more complex, can capture more subtle structure, but are harder to visualize and require additional machine learning steps for training.
A standard Markov Chain models transitions between observable states using a simple transition matrix, while a Hidden Markov Model assumes the true states are hidden (latent) and must be inferred from observable “emissions” like price or volume data. In practical terms, a Markov Chain is transparent and easier to implement and interpret; an HMM is more expressive but requires statistical inference to estimate hidden states from data.
Markov Chain: states are observable; you directly count or estimate transition probabilities between visible states. This makes it simpler, faster, and easier to validate and tune.
HMM: states are hidden; you only observe emissions generated by those latent states. Learning involves machine learning/statistical algorithms (commonly Baum–Welch/EM for training and Viterbi for decoding) to infer both the transition dynamics and the most likely hidden state sequence from data.
How does the indicator avoid “repainting” or look-ahead bias?
All regime changes and matrix updates happen only on confirmed (closed) bars, so no future data is leaked, ensuring reliable real-time operation.
Are there practical tuning tips?
Tune the Lookback Period for your asset/timeframe: shorter for fast markets, longer for stability.
Use custom indicators if your asset has unique regime drivers.
Watch for rapid changes in transition probabilities as early warning of a possible regime shift.
Who is this indicator for?
Quants and quantitative researchers exploring probabilistic market modeling, especially those interested in regime-switching dynamics and Markov models.
Programmers and system developers who need a probabilistic regime filter for systematic and algorithmic backtesting:
The Markov Chain indicator is ideally suited for programmatic integration via its bias output (1 = Bull, 0 = Neutral, -1 = Bear).
Although the visualization is engaging, the core output is designed for automated, rules-based workflows—not for discretionary/manual trading decisions.
Developers can connect the indicator’s output directly to their Pine Script logic (using input.source()), allowing rapid and robust backtesting of regime-based strategies.
It acts as a plug-and-play regime filter: simply plug the bias output into your entry/exit logic, and you have a scientifically robust, probabilistically-derived signal for filtering, timing, position sizing, or risk regimes.
The MC's output is intentionally "trinary" (1/0/-1), focusing on clear regime states for unambiguous decision-making in code. If you require nuanced, multi-probability or soft-label state vectors, consider expanding the indicator or stacking it with a probability-weighted logic layer in your scripting.
Because it avoids subjectivity, this approach is optimal for systematic quants, algo developers building backtested, repeatable strategies based on probabilistic regime analysis.
What's the mathematical foundation behind this?
The mathematical foundation behind this Markov Chain indicator—and probabilistic regime detection in finance—draws from two principal models: the (standard) Markov Chain and the Hidden Markov Model (HMM).
How to use this indicator programmatically?
The Markov Chain indicator automatically exports a bias value (+1 for Bullish, -1 for Bearish, 0 for Neutral) as a plot visible in the Data Window. This allows you to integrate its regime signal into your own scripts and strategies for backtesting, automation, or live trading.
Step-by-Step Integration with Pine Script (input.source)
Add the Markov Chain indicator to your chart.
This must be done first, since your custom script will "pull" the bias signal from the indicator's plot.
In your strategy, create an input using input.source()
Example:
//@version=5
strategy("MC Bias Strategy Example")
mcBias = input.source(close, "MC Bias Source")
After saving, go to your script’s settings. For the “MC Bias Source” input, select the plot/output of the Markov Chain indicator (typically its bias plot).
Use the bias in your trading logic
Example (long only on Bull, flat otherwise):
if mcBias == 1
strategy.entry("Long", strategy.long)
else
strategy.close("Long")
For more advanced workflows, combine mcBias with additional filters or trailing stops.
How does this work behind-the-scenes?
TradingView’s input.source() lets you use any plot from another indicator as a real-time, “live” data feed in your own script (source).
The selected bias signal is available to your Pine code as a variable, enabling logical decisions based on regime (trend-following, mean-reversion, etc.).
This enables powerful strategy modularity : decouple regime detection from entry/exit logic, allowing fast experimentation without rewriting core signal code.
Integrating 45+ Indicators with Your Markov Chain — How & Why
The Enhanced Custom Indicators Export script exports a massive suite of over 45 technical indicators—ranging from classic momentum (RSI, MACD, Stochastic, etc.) to trend, volume, volatility, and oscillator tools—all pre-calculated, centered/scaled, and available as plots.
// Enhanced Custom Indicators Export - 45 Technical Indicators
// Comprehensive technical analysis suite for advanced market regime detection
//@version=6
indicator('Enhanced Custom Indicators Export | Fractalyst', shorttitle='Enhanced CI Export', overlay=false, scale=scale.right, max_labels_count=500, max_lines_count=500)
// |----- Input Parameters -----| //
momentum_group = "Momentum Indicators"
trend_group = "Trend Indicators"
volume_group = "Volume Indicators"
volatility_group = "Volatility Indicators"
oscillator_group = "Oscillator Indicators"
display_group = "Display Settings"
// Common lengths
length_14 = input.int(14, "Standard Length (14)", minval=1, maxval=100, group=momentum_group)
length_20 = input.int(20, "Medium Length (20)", minval=1, maxval=200, group=trend_group)
length_50 = input.int(50, "Long Length (50)", minval=1, maxval=200, group=trend_group)
// Display options
show_table = input.bool(true, "Show Values Table", group=display_group)
table_size = input.string("Small", "Table Size", options= , group=display_group)
// |----- MOMENTUM INDICATORS (15 indicators) -----| //
// 1. RSI (Relative Strength Index)
rsi_14 = ta.rsi(close, length_14)
rsi_centered = rsi_14 - 50
// 2. Stochastic Oscillator
stoch_k = ta.stoch(close, high, low, length_14)
stoch_d = ta.sma(stoch_k, 3)
stoch_centered = stoch_k - 50
// 3. Williams %R
williams_r = ta.stoch(close, high, low, length_14) - 100
// 4. MACD (Moving Average Convergence Divergence)
= ta.macd(close, 12, 26, 9)
// 5. Momentum (Rate of Change)
momentum = ta.mom(close, length_14)
momentum_pct = (momentum / close ) * 100
// 6. Rate of Change (ROC)
roc = ta.roc(close, length_14)
// 7. Commodity Channel Index (CCI)
cci = ta.cci(close, length_20)
// 8. Money Flow Index (MFI)
mfi = ta.mfi(close, length_14)
mfi_centered = mfi - 50
// 9. Awesome Oscillator (AO)
ao = ta.sma(hl2, 5) - ta.sma(hl2, 34)
// 10. Accelerator Oscillator (AC)
ac = ao - ta.sma(ao, 5)
// 11. Chande Momentum Oscillator (CMO)
cmo = ta.cmo(close, length_14)
// 12. Detrended Price Oscillator (DPO)
dpo = close - ta.sma(close, length_20)
// 13. Price Oscillator (PPO)
ppo = ta.sma(close, 12) - ta.sma(close, 26)
ppo_pct = (ppo / ta.sma(close, 26)) * 100
// 14. TRIX
trix_ema1 = ta.ema(close, length_14)
trix_ema2 = ta.ema(trix_ema1, length_14)
trix_ema3 = ta.ema(trix_ema2, length_14)
trix = ta.roc(trix_ema3, 1) * 10000
// 15. Klinger Oscillator
klinger = ta.ema(volume * (high + low + close) / 3, 34) - ta.ema(volume * (high + low + close) / 3, 55)
// 16. Fisher Transform
fisher_hl2 = 0.5 * (hl2 - ta.lowest(hl2, 10)) / (ta.highest(hl2, 10) - ta.lowest(hl2, 10)) - 0.25
fisher = 0.5 * math.log((1 + fisher_hl2) / (1 - fisher_hl2))
// 17. Stochastic RSI
stoch_rsi = ta.stoch(rsi_14, rsi_14, rsi_14, length_14)
stoch_rsi_centered = stoch_rsi - 50
// 18. Relative Vigor Index (RVI)
rvi_num = ta.swma(close - open)
rvi_den = ta.swma(high - low)
rvi = rvi_den != 0 ? rvi_num / rvi_den : 0
// 19. Balance of Power (BOP)
bop = (close - open) / (high - low)
// |----- TREND INDICATORS (10 indicators) -----| //
// 20. Simple Moving Average Momentum
sma_20 = ta.sma(close, length_20)
sma_momentum = ((close - sma_20) / sma_20) * 100
// 21. Exponential Moving Average Momentum
ema_20 = ta.ema(close, length_20)
ema_momentum = ((close - ema_20) / ema_20) * 100
// 22. Parabolic SAR
sar = ta.sar(0.02, 0.02, 0.2)
sar_trend = close > sar ? 1 : -1
// 23. Linear Regression Slope
lr_slope = ta.linreg(close, length_20, 0) - ta.linreg(close, length_20, 1)
// 24. Moving Average Convergence (MAC)
mac = ta.sma(close, 10) - ta.sma(close, 30)
// 25. Trend Intensity Index (TII)
tii_sum = 0.0
for i = 1 to length_20
tii_sum += close > close ? 1 : 0
tii = (tii_sum / length_20) * 100
// 26. Ichimoku Cloud Components
ichimoku_tenkan = (ta.highest(high, 9) + ta.lowest(low, 9)) / 2
ichimoku_kijun = (ta.highest(high, 26) + ta.lowest(low, 26)) / 2
ichimoku_signal = ichimoku_tenkan > ichimoku_kijun ? 1 : -1
// 27. MESA Adaptive Moving Average (MAMA)
mama_alpha = 2.0 / (length_20 + 1)
mama = ta.ema(close, length_20)
mama_momentum = ((close - mama) / mama) * 100
// 28. Zero Lag Exponential Moving Average (ZLEMA)
zlema_lag = math.round((length_20 - 1) / 2)
zlema_data = close + (close - close )
zlema = ta.ema(zlema_data, length_20)
zlema_momentum = ((close - zlema) / zlema) * 100
// |----- VOLUME INDICATORS (6 indicators) -----| //
// 29. On-Balance Volume (OBV)
obv = ta.obv
// 30. Volume Rate of Change (VROC)
vroc = ta.roc(volume, length_14)
// 31. Price Volume Trend (PVT)
pvt = ta.pvt
// 32. Negative Volume Index (NVI)
nvi = 0.0
nvi := volume < volume ? nvi + ((close - close ) / close ) * nvi : nvi
// 33. Positive Volume Index (PVI)
pvi = 0.0
pvi := volume > volume ? pvi + ((close - close ) / close ) * pvi : pvi
// 34. Volume Oscillator
vol_osc = ta.sma(volume, 5) - ta.sma(volume, 10)
// 35. Ease of Movement (EOM)
eom_distance = high - low
eom_box_height = volume / 1000000
eom = eom_box_height != 0 ? eom_distance / eom_box_height : 0
eom_sma = ta.sma(eom, length_14)
// 36. Force Index
force_index = volume * (close - close )
force_index_sma = ta.sma(force_index, length_14)
// |----- VOLATILITY INDICATORS (10 indicators) -----| //
// 37. Average True Range (ATR)
atr = ta.atr(length_14)
atr_pct = (atr / close) * 100
// 38. Bollinger Bands Position
bb_basis = ta.sma(close, length_20)
bb_dev = 2.0 * ta.stdev(close, length_20)
bb_upper = bb_basis + bb_dev
bb_lower = bb_basis - bb_dev
bb_position = bb_dev != 0 ? (close - bb_basis) / bb_dev : 0
bb_width = bb_dev != 0 ? (bb_upper - bb_lower) / bb_basis * 100 : 0
// 39. Keltner Channels Position
kc_basis = ta.ema(close, length_20)
kc_range = ta.ema(ta.tr, length_20)
kc_upper = kc_basis + (2.0 * kc_range)
kc_lower = kc_basis - (2.0 * kc_range)
kc_position = kc_range != 0 ? (close - kc_basis) / kc_range : 0
// 40. Donchian Channels Position
dc_upper = ta.highest(high, length_20)
dc_lower = ta.lowest(low, length_20)
dc_basis = (dc_upper + dc_lower) / 2
dc_position = (dc_upper - dc_lower) != 0 ? (close - dc_basis) / (dc_upper - dc_lower) : 0
// 41. Standard Deviation
std_dev = ta.stdev(close, length_20)
std_dev_pct = (std_dev / close) * 100
// 42. Relative Volatility Index (RVI)
rvi_up = ta.stdev(close > close ? close : 0, length_14)
rvi_down = ta.stdev(close < close ? close : 0, length_14)
rvi_total = rvi_up + rvi_down
rvi_volatility = rvi_total != 0 ? (rvi_up / rvi_total) * 100 : 50
// 43. Historical Volatility
hv_returns = math.log(close / close )
hv = ta.stdev(hv_returns, length_20) * math.sqrt(252) * 100
// 44. Garman-Klass Volatility
gk_vol = math.log(high/low) * math.log(high/low) - (2*math.log(2)-1) * math.log(close/open) * math.log(close/open)
gk_volatility = math.sqrt(ta.sma(gk_vol, length_20)) * 100
// 45. Parkinson Volatility
park_vol = math.log(high/low) * math.log(high/low)
parkinson = math.sqrt(ta.sma(park_vol, length_20) / (4 * math.log(2))) * 100
// 46. Rogers-Satchell Volatility
rs_vol = math.log(high/close) * math.log(high/open) + math.log(low/close) * math.log(low/open)
rogers_satchell = math.sqrt(ta.sma(rs_vol, length_20)) * 100
// |----- OSCILLATOR INDICATORS (5 indicators) -----| //
// 47. Elder Ray Index
elder_bull = high - ta.ema(close, 13)
elder_bear = low - ta.ema(close, 13)
elder_power = elder_bull + elder_bear
// 48. Schaff Trend Cycle (STC)
stc_macd = ta.ema(close, 23) - ta.ema(close, 50)
stc_k = ta.stoch(stc_macd, stc_macd, stc_macd, 10)
stc_d = ta.ema(stc_k, 3)
stc = ta.stoch(stc_d, stc_d, stc_d, 10)
// 49. Coppock Curve
coppock_roc1 = ta.roc(close, 14)
coppock_roc2 = ta.roc(close, 11)
coppock = ta.wma(coppock_roc1 + coppock_roc2, 10)
// 50. Know Sure Thing (KST)
kst_roc1 = ta.roc(close, 10)
kst_roc2 = ta.roc(close, 15)
kst_roc3 = ta.roc(close, 20)
kst_roc4 = ta.roc(close, 30)
kst = ta.sma(kst_roc1, 10) + 2*ta.sma(kst_roc2, 10) + 3*ta.sma(kst_roc3, 10) + 4*ta.sma(kst_roc4, 15)
// 51. Percentage Price Oscillator (PPO)
ppo_line = ((ta.ema(close, 12) - ta.ema(close, 26)) / ta.ema(close, 26)) * 100
ppo_signal = ta.ema(ppo_line, 9)
ppo_histogram = ppo_line - ppo_signal
// |----- PLOT MAIN INDICATORS -----| //
// Plot key momentum indicators
plot(rsi_centered, title="01_RSI_Centered", color=color.purple, linewidth=1)
plot(stoch_centered, title="02_Stoch_Centered", color=color.blue, linewidth=1)
plot(williams_r, title="03_Williams_R", color=color.red, linewidth=1)
plot(macd_histogram, title="04_MACD_Histogram", color=color.orange, linewidth=1)
plot(cci, title="05_CCI", color=color.green, linewidth=1)
// Plot trend indicators
plot(sma_momentum, title="06_SMA_Momentum", color=color.navy, linewidth=1)
plot(ema_momentum, title="07_EMA_Momentum", color=color.maroon, linewidth=1)
plot(sar_trend, title="08_SAR_Trend", color=color.teal, linewidth=1)
plot(lr_slope, title="09_LR_Slope", color=color.lime, linewidth=1)
plot(mac, title="10_MAC", color=color.fuchsia, linewidth=1)
// Plot volatility indicators
plot(atr_pct, title="11_ATR_Pct", color=color.yellow, linewidth=1)
plot(bb_position, title="12_BB_Position", color=color.aqua, linewidth=1)
plot(kc_position, title="13_KC_Position", color=color.olive, linewidth=1)
plot(std_dev_pct, title="14_StdDev_Pct", color=color.silver, linewidth=1)
plot(bb_width, title="15_BB_Width", color=color.gray, linewidth=1)
// Plot volume indicators
plot(vroc, title="16_VROC", color=color.blue, linewidth=1)
plot(eom_sma, title="17_EOM", color=color.red, linewidth=1)
plot(vol_osc, title="18_Vol_Osc", color=color.green, linewidth=1)
plot(force_index_sma, title="19_Force_Index", color=color.orange, linewidth=1)
plot(obv, title="20_OBV", color=color.purple, linewidth=1)
// Plot additional oscillators
plot(ao, title="21_Awesome_Osc", color=color.navy, linewidth=1)
plot(cmo, title="22_CMO", color=color.maroon, linewidth=1)
plot(dpo, title="23_DPO", color=color.teal, linewidth=1)
plot(trix, title="24_TRIX", color=color.lime, linewidth=1)
plot(fisher, title="25_Fisher", color=color.fuchsia, linewidth=1)
// Plot more momentum indicators
plot(mfi_centered, title="26_MFI_Centered", color=color.yellow, linewidth=1)
plot(ac, title="27_AC", color=color.aqua, linewidth=1)
plot(ppo_pct, title="28_PPO_Pct", color=color.olive, linewidth=1)
plot(stoch_rsi_centered, title="29_StochRSI_Centered", color=color.silver, linewidth=1)
plot(klinger, title="30_Klinger", color=color.gray, linewidth=1)
// Plot trend continuation
plot(tii, title="31_TII", color=color.blue, linewidth=1)
plot(ichimoku_signal, title="32_Ichimoku_Signal", color=color.red, linewidth=1)
plot(mama_momentum, title="33_MAMA_Momentum", color=color.green, linewidth=1)
plot(zlema_momentum, title="34_ZLEMA_Momentum", color=color.orange, linewidth=1)
plot(bop, title="35_BOP", color=color.purple, linewidth=1)
// Plot volume continuation
plot(nvi, title="36_NVI", color=color.navy, linewidth=1)
plot(pvi, title="37_PVI", color=color.maroon, linewidth=1)
plot(momentum_pct, title="38_Momentum_Pct", color=color.teal, linewidth=1)
plot(roc, title="39_ROC", color=color.lime, linewidth=1)
plot(rvi, title="40_RVI", color=color.fuchsia, linewidth=1)
// Plot volatility continuation
plot(dc_position, title="41_DC_Position", color=color.yellow, linewidth=1)
plot(rvi_volatility, title="42_RVI_Volatility", color=color.aqua, linewidth=1)
plot(hv, title="43_Historical_Vol", color=color.olive, linewidth=1)
plot(gk_volatility, title="44_GK_Volatility", color=color.silver, linewidth=1)
plot(parkinson, title="45_Parkinson_Vol", color=color.gray, linewidth=1)
// Plot final oscillators
plot(rogers_satchell, title="46_RS_Volatility", color=color.blue, linewidth=1)
plot(elder_power, title="47_Elder_Power", color=color.red, linewidth=1)
plot(stc, title="48_STC", color=color.green, linewidth=1)
plot(coppock, title="49_Coppock", color=color.orange, linewidth=1)
plot(kst, title="50_KST", color=color.purple, linewidth=1)
// Plot final indicators
plot(ppo_histogram, title="51_PPO_Histogram", color=color.navy, linewidth=1)
plot(pvt, title="52_PVT", color=color.maroon, linewidth=1)
// |----- Reference Lines -----| //
hline(0, "Zero Line", color=color.gray, linestyle=hline.style_dashed, linewidth=1)
hline(50, "Midline", color=color.gray, linestyle=hline.style_dotted, linewidth=1)
hline(-50, "Lower Midline", color=color.gray, linestyle=hline.style_dotted, linewidth=1)
hline(25, "Upper Threshold", color=color.gray, linestyle=hline.style_dotted, linewidth=1)
hline(-25, "Lower Threshold", color=color.gray, linestyle=hline.style_dotted, linewidth=1)
// |----- Enhanced Information Table -----| //
if show_table and barstate.islast
table_position = position.top_right
table_text_size = table_size == "Tiny" ? size.tiny : table_size == "Small" ? size.small : size.normal
var table info_table = table.new(table_position, 3, 18, bgcolor=color.new(color.white, 85), border_width=1, border_color=color.gray)
// Headers
table.cell(info_table, 0, 0, 'Category', text_color=color.black, text_size=table_text_size, bgcolor=color.new(color.blue, 70))
table.cell(info_table, 1, 0, 'Indicator', text_color=color.black, text_size=table_text_size, bgcolor=color.new(color.blue, 70))
table.cell(info_table, 2, 0, 'Value', text_color=color.black, text_size=table_text_size, bgcolor=color.new(color.blue, 70))
// Key Momentum Indicators
table.cell(info_table, 0, 1, 'MOMENTUM', text_color=color.purple, text_size=table_text_size, bgcolor=color.new(color.purple, 90))
table.cell(info_table, 1, 1, 'RSI Centered', text_color=color.purple, text_size=table_text_size)
table.cell(info_table, 2, 1, str.tostring(rsi_centered, '0.00'), text_color=color.purple, text_size=table_text_size)
table.cell(info_table, 0, 2, '', text_color=color.blue, text_size=table_text_size)
table.cell(info_table, 1, 2, 'Stoch Centered', text_color=color.blue, text_size=table_text_size)
table.cell(info_table, 2, 2, str.tostring(stoch_centered, '0.00'), text_color=color.blue, text_size=table_text_size)
table.cell(info_table, 0, 3, '', text_color=color.red, text_size=table_text_size)
table.cell(info_table, 1, 3, 'Williams %R', text_color=color.red, text_size=table_text_size)
table.cell(info_table, 2, 3, str.tostring(williams_r, '0.00'), text_color=color.red, text_size=table_text_size)
table.cell(info_table, 0, 4, '', text_color=color.orange, text_size=table_text_size)
table.cell(info_table, 1, 4, 'MACD Histogram', text_color=color.orange, text_size=table_text_size)
table.cell(info_table, 2, 4, str.tostring(macd_histogram, '0.000'), text_color=color.orange, text_size=table_text_size)
table.cell(info_table, 0, 5, '', text_color=color.green, text_size=table_text_size)
table.cell(info_table, 1, 5, 'CCI', text_color=color.green, text_size=table_text_size)
table.cell(info_table, 2, 5, str.tostring(cci, '0.00'), text_color=color.green, text_size=table_text_size)
// Key Trend Indicators
table.cell(info_table, 0, 6, 'TREND', text_color=color.navy, text_size=table_text_size, bgcolor=color.new(color.navy, 90))
table.cell(info_table, 1, 6, 'SMA Momentum %', text_color=color.navy, text_size=table_text_size)
table.cell(info_table, 2, 6, str.tostring(sma_momentum, '0.00'), text_color=color.navy, text_size=table_text_size)
table.cell(info_table, 0, 7, '', text_color=color.maroon, text_size=table_text_size)
table.cell(info_table, 1, 7, 'EMA Momentum %', text_color=color.maroon, text_size=table_text_size)
table.cell(info_table, 2, 7, str.tostring(ema_momentum, '0.00'), text_color=color.maroon, text_size=table_text_size)
table.cell(info_table, 0, 8, '', text_color=color.teal, text_size=table_text_size)
table.cell(info_table, 1, 8, 'SAR Trend', text_color=color.teal, text_size=table_text_size)
table.cell(info_table, 2, 8, str.tostring(sar_trend, '0'), text_color=color.teal, text_size=table_text_size)
table.cell(info_table, 0, 9, '', text_color=color.lime, text_size=table_text_size)
table.cell(info_table, 1, 9, 'Linear Regression', text_color=color.lime, text_size=table_text_size)
table.cell(info_table, 2, 9, str.tostring(lr_slope, '0.000'), text_color=color.lime, text_size=table_text_size)
// Key Volatility Indicators
table.cell(info_table, 0, 10, 'VOLATILITY', text_color=color.yellow, text_size=table_text_size, bgcolor=color.new(color.yellow, 90))
table.cell(info_table, 1, 10, 'ATR %', text_color=color.yellow, text_size=table_text_size)
table.cell(info_table, 2, 10, str.tostring(atr_pct, '0.00'), text_color=color.yellow, text_size=table_text_size)
table.cell(info_table, 0, 11, '', text_color=color.aqua, text_size=table_text_size)
table.cell(info_table, 1, 11, 'BB Position', text_color=color.aqua, text_size=table_text_size)
table.cell(info_table, 2, 11, str.tostring(bb_position, '0.00'), text_color=color.aqua, text_size=table_text_size)
table.cell(info_table, 0, 12, '', text_color=color.olive, text_size=table_text_size)
table.cell(info_table, 1, 12, 'KC Position', text_color=color.olive, text_size=table_text_size)
table.cell(info_table, 2, 12, str.tostring(kc_position, '0.00'), text_color=color.olive, text_size=table_text_size)
// Key Volume Indicators
table.cell(info_table, 0, 13, 'VOLUME', text_color=color.blue, text_size=table_text_size, bgcolor=color.new(color.blue, 90))
table.cell(info_table, 1, 13, 'Volume ROC', text_color=color.blue, text_size=table_text_size)
table.cell(info_table, 2, 13, str.tostring(vroc, '0.00'), text_color=color.blue, text_size=table_text_size)
table.cell(info_table, 0, 14, '', text_color=color.red, text_size=table_text_size)
table.cell(info_table, 1, 14, 'EOM', text_color=color.red, text_size=table_text_size)
table.cell(info_table, 2, 14, str.tostring(eom_sma, '0.000'), text_color=color.red, text_size=table_text_size)
// Key Oscillators
table.cell(info_table, 0, 15, 'OSCILLATORS', text_color=color.purple, text_size=table_text_size, bgcolor=color.new(color.purple, 90))
table.cell(info_table, 1, 15, 'Awesome Osc', text_color=color.blue, text_size=table_text_size)
table.cell(info_table, 2, 15, str.tostring(ao, '0.000'), text_color=color.blue, text_size=table_text_size)
table.cell(info_table, 0, 16, '', text_color=color.red, text_size=table_text_size)
table.cell(info_table, 1, 16, 'Fisher Transform', text_color=color.red, text_size=table_text_size)
table.cell(info_table, 2, 16, str.tostring(fisher, '0.000'), text_color=color.red, text_size=table_text_size)
// Summary Statistics
table.cell(info_table, 0, 17, 'SUMMARY', text_color=color.black, text_size=table_text_size, bgcolor=color.new(color.gray, 70))
table.cell(info_table, 1, 17, 'Total Indicators: 52', text_color=color.black, text_size=table_text_size)
regime_color = rsi_centered > 10 ? color.green : rsi_centered < -10 ? color.red : color.gray
regime_text = rsi_centered > 10 ? "BULLISH" : rsi_centered < -10 ? "BEARISH" : "NEUTRAL"
table.cell(info_table, 2, 17, regime_text, text_color=regime_color, text_size=table_text_size)
This makes it the perfect “indicator backbone” for quantitative and systematic traders who want to prototype, combine, and test new regime detection models—especially in combination with the Markov Chain indicator.
How to use this script with the Markov Chain for research and backtesting:
Add the Enhanced Indicator Export to your chart.
Every calculated indicator is available as an individual data stream.
Connect the indicator(s) you want as custom input(s) to the Markov Chain’s “Custom Indicators” option.
In the Markov Chain indicator’s settings, turn ON the custom indicator mode.
For each of the three custom indicator inputs, select the exported plot from the Enhanced Export script—the menu lists all 45+ signals by name.
This creates a powerful, modular regime-detection engine where you can mix-and-match momentum, trend, volume, or custom combinations for advanced filtering.
Backtest regime logic directly.
Once you’ve connected your chosen indicators, the Markov Chain script performs regime detection (Bull/Neutral/Bear) based on your selected features—not just price returns.
The regime detection is robust, automatically normalized (using Z-score), and outputs bias (1, -1, 0) for plug-and-play integration.
Export the regime bias for programmatic use.
As described above, use input.source() in your Pine Script strategy or system and link the bias output.
You can now filter signals, control trade direction/size, or design pairs-trading that respect true, indicator-driven market regimes.
With this framework, you’re not limited to static or simplistic regime filters. You can rigorously define, test, and refine what “market regime” means for your strategies—using the technical features that matter most to you.
Optimize your signal generation by backtesting across a universe of meaningful indicator blends.
Enhance risk management with objective, real-time regime boundaries.
Accelerate your research: iterate quickly, swap indicator components, and see results with minimal code changes.
Automate multi-asset or pairs-trading by integrating regime context directly into strategy logic.
Add both scripts to your chart, connect your preferred features, and start investigating your best regime-based trades—entirely within the TradingView ecosystem.
References & Further Reading
Ang, A., & Bekaert, G. (2002). “Regime Switches in Interest Rates.” Journal of Business & Economic Statistics, 20(2), 163–182.
Hamilton, J. D. (1989). “A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle.” Econometrica, 57(2), 357–384.
Markov, A. A. (1906). "Extension of the Limit Theorems of Probability Theory to a Sum of Variables Connected in a Chain." The Notes of the Imperial Academy of Sciences of St. Petersburg.
Guidolin, M., & Timmermann, A. (2007). “Asset Allocation under Multivariate Regime Switching.” Journal of Economic Dynamics and Control, 31(11), 3503–3544.
Murphy, J. J. (1999). Technical Analysis of the Financial Markets. New York Institute of Finance.
Brock, W., Lakonishok, J., & LeBaron, B. (1992). “Simple Technical Trading Rules and the Stochastic Properties of Stock Returns.” Journal of Finance, 47(5), 1731–1764.
Zucchini, W., MacDonald, I. L., & Langrock, R. (2017). Hidden Markov Models for Time Series: An Introduction Using R (2nd ed.). Chapman and Hall/CRC.
On Quantitative Finance and Markov Models:
Lo, A. W., & Hasanhodzic, J. (2009). The Heretics of Finance: Conversations with Leading Practitioners of Technical Analysis. Bloomberg Press.
Patterson, S. (2016). The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution. Penguin Press.
TradingView Pine Script Documentation: www.tradingview.com
TradingView Blog: “Use an Input From Another Indicator With Your Strategy” www.tradingview.com
GeeksforGeeks: “What is the Difference Between Markov Chains and Hidden Markov Models?” www.geeksforgeeks.org
What makes this indicator original and unique?
- On‑chart, real‑time Markov. The chain is drawn directly on your chart. You see the current regime, its tendency to stay (self‑loop), and the usual next step (arrows) as bars confirm.
- Source‑agnostic by design. The engine runs on any series you select via input.source() — price, your own oscillator, a composite score, anything you compute in the script.
- Automatic normalization + regime mapping. Different inputs live on different scales. The script standardizes your chosen source and maps it into clear regimes (e.g., Bull / Bear / Neutral) without you micromanaging thresholds each time.
- Rolling, bar‑by‑bar learning. Transition tendencies are computed from a rolling window of confirmed bars. What you see is exactly what the market did in that window.
- Fast experimentation. Switch the source, adjust the window, and the Markov view updates instantly. It’s a rapid way to test ideas and feel regime persistence/switch behavior.
Integrate your own signals (using input.source())
- In settings, choose the Source . This is powered by input.source() .
- Feed it price, an indicator you compute inside the script, or a custom composite series.
- The script will automatically normalize that series and process it through the Markov engine, mapping it to regimes and updating the on‑chart spheres/arrows in real time.
Credits:
Deep gratitude to @RicardoSantos for both the foundational Markov chain processing engine and inspiring open-source contributions, which made advanced probabilistic market modeling accessible to the TradingView community.
Special thanks to @Alien_Algorithms for the innovative and visually stunning 3D sphere logic that powers the indicator’s animated, regime-based visualization.
Disclaimer
This tool summarizes recent behavior. It is not financial advice and not a guarantee of future results.
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.
Trend Breakout Description:
This Pine Script indicator identifies pivot high and pivot low points based on user-defined left and right candle legs, detecting breakouts to signal potential trend changes. It plots horizontal lines at pivot highs (lime) and pivot lows (red), marking breakout signals with labels ("Br") when the price crosses above a pivot high or below a pivot low. The indicator also changes the background color to reflect the trend (green for uptrend, red for downtrend) with adjustable transparency. The indicator primarily focuses on recognizing specific pivot patterns to define trends and generate trading signals.
How It Works
• Pivot Detection: Identifies pivot highs and lows using configurable left (Left side Pivot Candle) and right (Right side Pivot Candle) periods.
• Pivot Highs (PH): A pivot high is identified when a candle's high is greater than a specified number of preceding candles (left leg) and succeeding candles (right leg).
• Pivot Lows (PL): Similarly, a pivot low is identified when a candle's low is less than a specified number of preceding and succeeding candles.
The script then tracks the last three pivot highs and pivot lows.
Trend Detection and Breakouts
1. High Line (Resistance): When a middle pivot high (out of the three tracked) is higher than both the previous and the next pivot high, a lime green line is drawn from that pivot high. This line acts as a dynamic resistance level.
2. Low Line (Support): Conversely, when a middle pivot low is lower than both the previous and the next pivot low, a red line is drawn from that pivot low. This line acts as a dynamic support level.
________________________________________
Trading Signals : The indicator generates signals based on price crossing these dynamically drawn lines .
• Long Signal (Uptrend):
o A "Long" signal is triggered when the close price crosses above the current high line (resistance), and the indicator is not already in an uptrend.
o When a long signal occurs, the background turns green, and the high line becomes dotted and thinner. A "Br" (Breakout) label appears below the candle.
• Short Signal (Downtrend):
o A "Short" signal is triggered when the close price crosses below the current low line (support), and the indicator is not already in a downtrend.
o When a short signal occurs, the background turns red, and the low line becomes dotted and thinner. A "Br" (Breakout) label appears above the candle.
________________________________________
Customizable Settings
The indicator provides three user-adjustable inputs:
• Right Side Pivot Candle (fpivotLeg): This setting (default 10) determines the number of candles to the right that must have lower highs/higher lows for a pivot to be confirmed.
• Left Side Pivot Candle (bpivotLeg): This setting (default 15) determines the number of candles to the left that must have lower highs/higher lows for a pivot to be confirmed.
• Adjust Color Visualization (Colortrnp): This setting (default 85) controls the transparency of the background color changes, allowing you to adjust how prominently the green (uptrend) and red (downtrend) backgrounds are displayed.
________________________________________
How to Use It
This indicator can be used by traders to:
• Identify potential reversals: The formation of new pivot highs and lows can signal shifts in market direction.
• Spot breakout opportunities: Crossing above the high line or below the low line can indicate the start of a new trend or the continuation of an existing one.
• Confirm trend strength: The presence and extension of the high and low lines can provide visual cues about the prevailing trend.
• Ideal for swing traders or trend-following strategies.
• Use the breakout labels ("Br") and background color to confirm trend direction.
• Adjust pivot leg inputs to fine-tune sensitivity for different timeframes or assets.
• Customize transparency to suit chart readability.
Example:
On a breakout above a pivot high, a green "Br" label appears, the background turns green, and the pivot line becomes dotted. This signals a potential uptrend, helping traders identify entry points or trend confirmations.
Disclaimer: No indicator guarantees profits. Always use this indicator in conjunction with other analysis methods and proper risk management.
Divergence Strategy [Trendoscope®]🎲 Overview
The Divergence Strategy is a sophisticated TradingView strategy that enhances the Divergence Screener by adding automated trade signal generation, risk management, and trade visualization. It leverages the screener’s robust divergence detection to identify bullish, bearish, regular, and hidden divergences, then executes trades with precise entry, stop-loss, and take-profit levels. Designed for traders seeking automated trading solutions, this strategy offers customizable trade parameters and visual feedback to optimize performance across various markets and timeframes.
For core divergence detection features, including oscillator options, trend detection methods, zigzag pivot analysis, and visualization, refer to the Divergence Screener documentation. This description focuses on the strategy-specific enhancements for automated trading and risk management.
🎲 Strategy Features
🎯Automated Trade Signal Generation
Trade Direction Control : Restrict trades to long-only or short-only to align with market bias or strategy goals, preventing conflicting orders.
Divergence Type Selection : Choose to trade regular divergences (bullish/bearish), hidden divergences, or both, targeting reversals or trend continuations.
Entry Type Options :
Cautious : Enters conservatively at pivot points and exits quickly to minimize risk exposure.
Confident : Enters aggressively at the latest price and holds longer to capture larger moves.
Mixed : Combines conservative entries with delayed exits for a balanced approach.
Market vs. Stop Orders: Opt for market orders for instant execution or stop orders for precise price entry.
🎯 Enhanced Risk Management
Risk/Reward Ratio : Define a risk-reward ratio (default: 2.0) to set profit targets relative to stop-loss levels, ensuring consistent trade sizing.
Bracket Orders : Trades include entry, stop-loss, and take-profit levels calculated from divergence pivot points, tailored to the entry type and risk-reward settings.
Stop-Loss Placement : Stops are strategically set (e.g., at recent pivot or last price point) based on entry type, balancing risk and trade validity.
Order Cancellation : Optionally cancel pending orders when a divergence is broken (e.g., price moves past the pivot in the wrong direction), reducing invalid trades. This feature is toggleable for flexibility.
🎯 Trade Visualization
Target and Stop Boxes : Displays take-profit (lime) and stop-loss (orange) levels as boxes on the price chart, extending 10 bars forward for clear visibility.
Dynamic Trade Updates : Trade visualizations are added, updated, or removed as trades are executed, canceled, or invalidated, ensuring accurate feedback.
Overlay Integration : Trade levels overlay the price chart, complementing the screener’s oscillator-based divergence lines and labels.
🎯 Strategy Default Configuration
Capital and Sizing : Set initial capital (default: $1,000,000) and position size (default: 20% of equity) for realistic backtesting.
Pyramiding : Allows up to 4 concurrent trades, enabling multiple divergence-based entries in trending markets.
Commission and Margin : Accounts for commission (default: 0.01%) and margin (100% for long/short) to reflect trading costs.
Performance Optimization : Processes up to 5,000 bars dynamically, balancing historical analysis and real-time execution.
🎲 Inputs and Configuration
🎯Trade Settings
Direction : Select Long or Short (default: Long).
Divergence : Trade Regular, Hidden, or Both divergence types (default: Both).
Entry/Exit Type : Choose Cautious, Confident, or Mixed (default: Cautious).
Risk/Reward : Set the risk-reward ratio for profit targets (default: 2.0).
Use Market Order : Enable market orders for immediate entry (default: false, uses limit orders).
Cancel On Break : Cancel pending orders when divergence is broken (default: true).
🎯Inherited Settings
The strategy inherits all inputs from the Divergence Screener, including:
Oscillator Settings : Oscillator type (e.g., RSI, CCI), length, and external oscillator option.
Trend Settings : Trend detection method (Zigzag, MA Difference, External), MA type, and length.
Zigzag Settings : Zigzag length (fixed repaint = true).
🎲 Entry/Exit Types for Divergence Scenarios
The Divergence Strategy offers three Entry/Exit Type options—Cautious, Confident, and Mixed—which determine how trades are entered and exited based on divergence pivot points. This section explains how these settings apply to different divergence scenarios, with placeholders for screenshots to illustrate each case.
The divergence pattern forms after 3 pivots. The stop and entry levels are formed on one of these levels based on Entry/Exit types.
🎯Bullish Divergence (Reversal)
A bullish divergence occurs when price forms a lower low, but the oscillator forms a higher low, signaling a potential upward reversal.
💎 Cautious:
Entry : At the pivot high point for a conservative entry.
Exit : Stop-loss at the last pivot point (previous low that is higher than the current pivot low); take-profit at risk-reward ratio. Canceled if price breaks below the pivot (if Cancel On Break is enabled).
Behavior : Enters after confirmation and exits quickly to limit downside risk.
💎Confident:
Entry : At the last pivot low, (previous low which is higher than the current pivot low) for an aggressive entry.
Exit : Stop-loss at recent pivot low, which is the lowest point; take-profit at risk-reward ratio. Canceled if price breaks below the pivot. (lazy exit)
Behavior : Enters early to capture trend continuation, holding longer for gains.
💎Mixed:
Entry : At the pivot high point (conservative).
Exit : Stop-loss at the recent pivot point that has resulted in lower low (lazy exit). Canceled if price breaks below the pivot.
Behavior : Balances entry caution with extended holding for trend continuation.
🎯Bearish Divergence (Reversal)
A bearish divergence occurs when price forms a higher high, but the oscillator forms a lower high, indicating a potential downward reversal.
💎Cautious:
Entry : At the pivot low point (lower high) for a conservative short entry.
Exit : Stop-loss at the previous pivot high point (previous high); take-profit at risk-reward ratio. Canceled if price breaks above the pivot (if Cancel On Break is enabled).
Behavior : Enters conservatively and exits quickly to minimize risk.
💎Confident:
Entry : At the last price point (previous high) for an aggressive short entry.
Exit : Stop-loss at the pivot point; take-profit at risk-reward ratio. Canceled if price breaks above the pivot.
Behavior : Enters early to maximize trend continuation, holding longer.
💎Mixed:
Entry : At the previous piot high point (conservative).
Exit : Stop-loss at the last price point (delayed exit). Canceled if price breaks above the pivot.
Behavior : Combines conservative entry with extended holding for downtrend gains.
🎯Bullish Hidden Divergence (Continuation)
A bullish hidden divergence occurs when price forms a higher low, but the oscillator forms a lower low, suggesting uptrend continuation. In case of Hidden bullish divergence, b]Entry is always on the previous pivot high (unless it is a market order)
💎Cautious:
Exit : Stop-loss at the recent pivot low point (higher than previous pivot low); take-profit at risk-reward ratio. Canceled if price breaks below the pivot (if Cancel On Break is enabled).
Behavior : Enters after confirmation and exits quickly to limit downside risk.
💎Confident:
Exit : Stop-loss at previous pivot low, which is the lowest point; take-profit at risk-reward ratio. Canceled if price breaks below the pivot. (lazy exit)
Behavior : Enters early to capture trend continuation, holding longer for gains.
🎯Bearish Hidden Divergence (Continuation)
A bearish hidden divergence occurs when price forms a lower high, but the oscillator forms a higher high, suggesting downtrend continuation. In case of Hidden Bearish divergence, b]Entry is always on the previous pivot low (unless it is a market order)
💎Cautious:
Exit : Stop-loss at the latest pivot high point (which is a lower high); take-profit at risk-reward ratio. Canceled if price breaks above the pivot (if Cancel On Break is enabled).
Behavior : Enters conservatively and exits quickly to minimize risk.
💎Confident/Mixed:
Exit : Stop-loss at the previous pivot high point; take-profit at risk-reward ratio. Canceled if price breaks above the pivot.
Behavior : Uses the late exit point to hold longer.
🎲 Usage Instructions
🎯Add to Chart:
Add the Divergence Strategy to your TradingView chart.
The oscillator and divergence signals appear in a separate pane, with trade levels (target/stop boxes) overlaid on the price chart.
🎯Configure Settings:
Adjust trade settings (direction, divergence type, entry type, risk-reward, market orders, cancel on break).
Modify inherited Divergence Screener settings (oscillator, trend method, zigzag length) as needed.
Enable/disable alerts for divergence notifications.
🎯Interpret Signals:
Long Trades: Triggered on bullish or bullish hidden divergences (if allowed), shown with green/lime lines and labels.
Short Trades: Triggered on bearish or bearish hidden divergences (if allowed), shown with red/orange lines and labels.
Monitor lime (target) and orange (stop) boxes for trade levels.
Review strategy performance metrics (e.g., profit/loss, win rate) in the strategy tester.
🎯Backtest and Optimize:
Use TradingView’s strategy tester to evaluate performance on historical data.
Fine-tune risk-reward, entry type, position sizing, and cancellation settings to suit your market and timeframe.
For questions, suggestions, or support, contact Trendoscope via TradingView or official support channels. Stay tuned for updates and enhancements to the Divergence Strategy!
Market Structure - HH, HL, LH, LL with Trendlines & AlertsMarket Structure Script – HH, HL, LH, LL with Trendlines & Alerts
This Pine Script is designed to help identify key market structure patterns such as Higher Highs (HH), Higher Lows (HL), Lower Highs (LH), and Lower Lows (LL) on price charts. It also draws trendlines connecting the respective swing points and provides alerts when these important price patterns occur.
Key Features:
Swing High and Low Detection:
The script uses the ta.pivothigh and ta.pivotlow functions to identify significant swing highs and swing lows based on the pivot length (pivotLen). These points mark local peaks and troughs in the price action.
Dynamic Pivot Length:
The script adjusts the pivotLen (which defines the number of bars used to calculate swing points) based on the current timeframe of the chart. For example, for a 15-minute chart, it uses a pivot length of 5 bars, while for a daily chart, it uses 10 bars. This dynamic adjustment ensures that the script works across different timeframes.
Higher Highs (HH), Higher Lows (HL), Lower Highs (LH), Lower Lows (LL):
Higher High (HH): Identifies a price peak that is higher than the previous swing high, indicating an uptrend.
Higher Low (HL): Identifies a price trough that is higher than the previous swing low, supporting the idea of an ongoing uptrend.
Lower High (LH): Identifies a price peak that is lower than the previous swing high, suggesting a potential reversal or downtrend.
Lower Low (LL): Identifies a price trough that is lower than the previous swing low, indicating a downtrend.
Trendlines:
For each identified Higher High, Higher Low, Lower High, or Lower Low, the script automatically draws a trendline connecting the corresponding swing points. These trendlines provide a visual representation of the market’s price structure, showing support and resistance levels.
Labels:
The script places labels on the chart next to the respective swing points. These labels mark whether the point is a Higher High (HH), Higher Low (HL), Lower High (LH), or Lower Low (LL). This helps traders easily visualize the price pattern at a glance.
Alerts:
Alert conditions are set for when a Higher High (HH), Higher Low (HL), Lower High (LH), or Lower Low (LL) is detected. Users can set up alerts to be notified whenever one of these key market structure patterns forms. Alerts are an essential feature for traders who want to act quickly when important trend changes are happening.
Top-Down Trend and Key Levels with Swing Points//by antaryaami0
Overview
The “Top-Down Trend and Key Levels with Swing Points” indicator is a comprehensive tool designed to enhance your technical analysis by integrating multiple trading concepts into a single, easy-to-use script. It combines higher timeframe trend analysis, key price levels, swing point detection, and ranging market identification to provide a holistic view of market conditions. This indicator is particularly useful for traders who employ multi-timeframe analysis, support and resistance levels, and price action strategies.
Key Features
1. Higher Timeframe Trend Background Shading:
• Purpose: Identifies the prevailing trend on a higher timeframe to align lower timeframe trading decisions with the broader market direction.
• How it Works: The indicator compares the current higher timeframe close with the previous one to determine if the trend is up, down, or ranging.
• Customization:
• Trend Timeframe: Set your preferred higher timeframe (e.g., Daily, Weekly).
• Up Trend Color & Down Trend Color: Customize the background colors for uptrends and downtrends.
• Ranging Market Color: A separate color to indicate when the market is moving sideways.
2. Key Price Levels:
• Previous Day High (PDH) and Low (PDL):
• Purpose: Identifies key support and resistance levels from the previous trading day.
• Visualization: Plots horizontal lines at PDH and PDL with labels.
• Customization: Option to show or hide these levels and customize their colors.
• Pre-Market High (PMH) and Low (PML):
• Purpose: Highlights the price range during the pre-market session, which can indicate potential breakout levels.
• Visualization: Plots horizontal lines at PMH and PML with labels.
• Customization: Option to show or hide these levels and customize their colors.
3. First 5-Minute Marker (F5H/F5L):
• Purpose: Marks the high or low of the first 5 minutes after the market opens, which is significant for intraday momentum.
• How it Works:
• If the first 5-minute high is above the Pre-Market High (PMH), an “F5H” label is placed at the first 5-minute high.
• If the first 5-minute high is below the PMH, an “F5L” label is placed at the first 5-minute low.
• Visualization: Labels are placed at the 9:35 AM candle (closing of the first 5 minutes), colored in purple by default.
• Customization: Option to show or hide the marker and adjust the marker color.
4. Swing Points Detection:
• Purpose: Identifies significant pivot points in price action to help recognize trends and reversals.
• How it Works: Uses left and right bars to detect pivot highs and lows, then determines if they are Higher Highs (HH), Lower Highs (LH), Higher Lows (HL), or Lower Lows (LL).
• Visualization: Plots small markers (circles) with labels (HH, LH, HL, LL) at the corresponding swing points.
• Customization: Adjust the number of left and right bars for pivot detection and the size of the markers.
5. Ranging Market Detection:
• Purpose: Identifies periods when the market is consolidating (moving sideways) within a defined price range.
• How it Works: Calculates the highest high and lowest low over a specified period and determines if the price range is within a set percentage threshold.
• Visualization: Draws a gray box around the price action during the ranging period and labels the high and low prices at the end of the range.
• Customization: Adjust the range detection period and threshold, as well as the box color.
6. Trend Coloring on Chart:
• Purpose: Provides a visual cue for the short-term trend based on a moving average.
• How it Works: Colors the candles green if the price is above the moving average and red if below.
• Customization: Set the moving average length and customize the uptrend and downtrend colors.
How to Use the Indicator
1. Adding the Indicator to Your Chart:
• Copy the Pine Script code provided and paste it into the Pine Script Editor on TradingView.
• Click “Add to Chart” to apply the indicator.
2. Configuring Inputs and Settings:
• Access Inputs:
• Click on the gear icon next to the indicator’s name on your chart to open the settings.
• Customize Key Levels:
• Show Pre-Market High/Low: Toggle on/off.
• Show Previous Day High/Low: Toggle on/off.
• Show First 5-Minute Marker: Toggle on/off.
• Set Trend Parameters:
• Trend Timeframe for Background: Choose the higher timeframe for trend analysis.
• Moving Average Length for Bar Color: Set the period for the moving average used in bar coloring.
• Adjust Ranging Market Detection:
• Range Detection Period: Specify the number of bars to consider for range detection.
• Range Threshold (%): Set the maximum percentage range for the market to be considered ranging.
• Customize Visuals:
• Colors: Adjust colors for trends, levels, markers, and ranging market boxes.
• Label Font Size: Choose the size of labels displayed on the chart.
• Level Line Width: Set the thickness of the lines for key levels.
3. Interpreting the Indicator:
• Background Shading:
• Green Shade: Higher timeframe is in an uptrend.
• Red Shade: Higher timeframe is in a downtrend.
• Gray Box: Market is ranging (sideways movement).
• Key Levels and Markers:
• PDH and PDL Lines: Represent resistance and support from the previous day.
• PMH and PML Lines: Indicate potential breakout levels based on pre-market activity.
• F5H/F5L Labels: Early indication of intraday momentum after market open.
• Swing Point Markers:
• HH (Higher High): Suggests bullish momentum.
• LH (Lower High): May indicate a potential bearish reversal.
• HL (Higher Low): Supports bullish continuation.
• LL (Lower Low): Indicates bearish momentum.
• Ranging Market Box:
• Gray Box Around Price Action: Highlights consolidation periods where breakouts may occur.
• Range High and Low Labels: Provide the upper and lower bounds of the consolidation zone.
4. Applying the Indicator to Your Trading Strategy:
• Trend Alignment:
• Use the higher timeframe trend shading to align your trades with the broader market direction.
• Key Levels Trading:
• Watch for price reactions at PDH, PDL, PMH, and PML for potential entry and exit points.
• Swing Points Analysis:
• Identify trend continuations or reversals by observing the sequence of HH, HL, LH, and LL.
• Ranging Market Strategies:
• During ranging periods, consider range-bound trading strategies or prepare for breakout trades when the price exits the range.
• Intraday Momentum:
• Use the F5H/F5L marker to gauge early market sentiment and potential intraday trends.
Practical Tips
• Adjust Settings to Your Trading Style:
• Tailor the indicator’s inputs to match your preferred timeframes and trading instruments.
• Combine with Other Indicators:
• Use in conjunction with volume indicators, oscillators, or other technical tools for additional confirmation.
• Backtesting:
• Apply the indicator to historical data to observe how it performs and refine your settings accordingly.
• Stay Updated on Market Conditions:
• Be aware of news events or economic releases that may impact market behavior and the effectiveness of technical levels.
Customization Options
• Time Zone Adjustment:
• The script uses “America/New_York” time zone by default. Adjust the timezone variable in the script if your chart operates in a different time zone.
var timezone = "Your/Timezone"
• Session Times:
• Modify the Regular Trading Session and Pre-Market Session times in the indicator settings to align with the trading hours of different markets or exchanges.
• Visual Preferences:
• Colors: Personalize the indicator’s colors to suit your visual preferences or to enhance visibility.
• Label Sizes: Adjust label sizes if you find them too intrusive or not prominent enough.
• Marker Sizes: Further reduce or enlarge the swing point markers by modifying the swing_marker_size variable.
Understanding the Indicator’s Logic
1. Higher Timeframe Trend Analysis:
• The indicator retrieves the closing prices of a higher timeframe using the request.security() function.
• It compares the current higher timeframe close with the previous one to determine the trend direction.
2. Key Level Calculation:
• Previous Day High/Low: Calculated by tracking the highest and lowest prices of the previous trading day.
• Pre-Market High/Low: Calculated by monitoring price action during the pre-market session.
3. First 5-Minute Marker Logic:
• At 9:35 AM (end of the first 5 minutes after market open), the indicator evaluates whether the first 5-minute high is above or below the PMH.
• It then places the appropriate label (F5H or F5L) on the chart.
4. Swing Points Detection:
• The script uses ta.pivothigh() and ta.pivotlow() functions to detect pivot points.
• It then determines the type of swing point based on comparisons with previous swings.
5. Ranging Market Detection:
• The indicator looks back over a specified number of bars to find the highest high and lowest low.
• It calculates the percentage difference between these two points.
• If the difference is below the set threshold, the market is considered to be ranging, and a box is drawn around the price action.
Limitations and Considerations
• Indicator Limitations:
• Maximum Boxes and Labels: Due to Pine Script limitations, there is a maximum number of boxes and labels that can be displayed simultaneously.
• Performance Impact: Adding multiple visual elements (boxes, labels, markers) can affect the performance of the script on lower-end devices or with large amounts of data.
• Market Conditions:
• False Signals: Like any technical tool, the indicator may produce false signals, especially during volatile or erratic market conditions.
• Not a Standalone Solution: This indicator should be used as part of a comprehensive trading strategy, including risk management and other forms of analysis.
Conclusion
The “Top-Down Trend and Key Levels with Swing Points” indicator is a versatile tool that integrates essential aspects of technical analysis into one script. By providing insights into higher timeframe trends, highlighting key price levels, detecting swing points, and identifying ranging markets, it equips traders with valuable information to make more informed trading decisions. Whether you are a day trader looking for intraday opportunities or a swing trader aiming to align with the broader trend, this indicator can enhance your chart analysis and trading strategy.
Disclaimer
Trading involves significant risk, and it’s important to understand that past performance is not indicative of future results. This indicator is a tool to assist in analysis and should not be solely relied upon for making trading decisions. Always conduct thorough research and consider seeking advice from financial professionals before engaging in trading activities.
Weekly H/L DOTWThe Weekly High/Low Day Breakdown indicator provides a detailed statistical analysis of the days of the week (Monday to Sunday) on which weekly highs and lows occur for a given timeframe. It helps traders identify recurring patterns, correlations, and tendencies in price behavior across different days of the week. This can assist in planning trading strategies by leveraging day-specific patterns.
The indicator visually displays the statistical distribution of weekly highs and lows in an easy-to-read tabular format on your chart. Users can customize how the data is displayed, including whether the table is horizontal or vertical, the size of the text, and the position of the table on the chart.
Key Features:
Weekly Highs and Lows Identification:
Tracks the highest and lowest price of each trading week.
Records the day of the week on which these events occur.
Customizable Table Layout:
Option to display the table horizontally or vertically.
Text size can be adjusted (Small, Normal, or Large).
Table position is customizable (top-right, top-left, bottom-right, or bottom-left of the chart).
Flexible Value Representation:
Allows the display of values as percentages or as occurrences.
Default setting is occurrences, but users can toggle to percentages as needed.
Day-Specific Display:
Option to hide Saturday or Sunday if these days are not relevant to your trading strategy.
Visible Date Range:
Users can define a start and end date for the analysis, focusing the results on a specific period of interest.
User-Friendly Interface:
The table dynamically updates based on the selected timeframe and visibility of the chart, ensuring the displayed data is always relevant to the current context.
Adaptable to Custom Needs:
Includes all-day names from Monday to Sunday, but allows for specific days to be excluded based on the user’s preferences.
Indicator Logic:
Data Collection:
The indicator collects daily high, low, day of the week, and time data from the selected ticker using the request.security() function with a daily timeframe ('D').
Weekly Tracking:
Tracks the start and end times of each week.
During each week, it monitors the highest and lowest prices and the days they occurred.
Weekly Closure:
When a week ends (detected by Sunday’s daily candle), the indicator:
Updates the statistics for the respective days of the week where the weekly high and low occurred.
Resets tracking variables for the next week.
Visible Range Filter:
Only processes data for weeks that fall within the visible range of the chart, ensuring the table reflects only the visible portion of the chart.
Statistical Calculations:
Counts the number of weekly highs and lows for each day.
Calculates percentages relative to the total number of weeks in the visible range.
Dynamic Table Display:
Depending on user preferences, displays the data either horizontally or vertically.
Formats the table with proper alignment, colors, and text sizes for easy readability.
Custom Value Representation:
If set to "percentages," displays the percentage of weeks a high/low occurred on each day.
If set to "occurrences," displays the raw count of weekly highs/lows for each day.
Input Parameters:
High Text Color:
Color for the text in the "Weekly High" row or column.
Low Text Color:
Color for the text in the "Weekly Low" row or column.
High Background Color:
Background color for the "Weekly High" row or column.
Low Background Color:
Background color for the "Weekly Low" row or column.
Table Background Color:
General background color for the table.
Hide Saturday:
Option to exclude Saturday from the analysis and table.
Hide Sunday:
Option to exclude Sunday from the analysis and table.
Values Format:
Dropdown menu to select "percentages" or "occurrences."
Default value: "occurrences."
Table Position:
Dropdown menu to select the table position on the chart: "top_right," "top_left," "bottom_right," "bottom_left."
Default value: "top_right."
Text Size:
Dropdown menu to select text size: "Small," "Normal," "Large."
Default value: "Normal."
Vertical Table Format:
Checkbox to toggle the table layout:
Checked: Table displays days vertically, with Monday at the top.
Unchecked: Table displays days horizontally.
Start Date:
Allows users to specify the starting date for the analysis.
End Date:
Allows users to specify the ending date for the analysis.
Use Cases:
Day-Specific Pattern Recognition:
Identify if specific days, such as Monday or Friday, are more likely to form weekly highs or lows.
Seasonal Analysis:
Use the start and end date filters to analyze patterns during specific trading seasons.
Strategy Development:
Plan day-based entry and exit strategies by identifying recurring patterns in weekly highs/lows.
Historical Review:
Study historical data to understand how market behavior has changed over time.
TradingView TOS Compliance Notes:
Originality:
This script is uniquely designed to provide day-based statistics for weekly highs and lows, which is not a common feature in other publicly available indicators.
Usefulness:
Offers practical insights for traders interested in understanding day-specific price behavior.
Detailed Description:
Fully explains the purpose, features, logic, input settings, and use cases of the indicator.
Includes clear and concise details on how each input works.
Clear Input Descriptions:
All input parameters are clearly named and explained in the script and this description.
No Redundant Functionality:
Focused specifically on tracking weekly highs and lows, ensuring the indicator serves a distinct purpose without unnecessary features.
Inner Bar Strength (IBS)Inner Bar Strength (IBS) Indicator
The Inner Bar Strength (IBS) indicator is a technical analysis tool designed to measure the position of the closing price relative to the day's price range. It provides insights into market sentiment by indicating where the close occurs within the high and low of a specific timeframe. The IBS value ranges from 0 to 1, where values near 1 suggest bullish momentum (close near the high), and values near 0 indicate bearish momentum (close near the low).
How It Works
The IBS is calculated using the following formula:
IBS = (Close−Low) / (High−Low)
IBS = (High−Low) / (Close−Low)
Close: Closing price of the selected timeframe.
Low: Lowest price of the selected timeframe.
High: Highest price of the selected timeframe.
The indicator allows you to select the timeframe for calculation (default is daily), providing flexibility to analyze different periods based on your trading strategy.
Key Features
Inner Bar Strength (IBS) Indicator
The Inner Bar Strength (IBS) indicator is a technical analysis tool designed to measure the position of the closing price relative to the day's price range. It provides insights into market sentiment by indicating where the close occurs within the high and low of a specific timeframe. The IBS value ranges from 0 to 1, where values near 1 suggest bullish momentum (close near the high), and values near 0 indicate bearish momentum (close near the low).
How It Works
The IBS is calculated using the following formula:
IBS=Close−LowHigh−Low
IBS=High−LowClose−Low
Close: Closing price of the selected timeframe.
Low: Lowest price of the selected timeframe.
High: Highest price of the selected timeframe.
The indicator allows you to select the timeframe for calculation (default is daily), providing flexibility to analyze different periods based on your trading strategy.
Key Features
Timeframe Selection: Customize the timeframe to daily, weekly, monthly, or any other period that suits your analysis.
Adjustable Thresholds: Input fields for upper and lower thresholds (defaulted at 0.9 and 0.1) help identify overbought and oversold conditions.
Visual Aids: Dashed horizontal lines at the threshold levels make it easy to visualize critical levels on the chart.
How to Use the IBS Indicator
When the IBS value exceeds the upper threshold (e.g., 0.9), it suggests the asset is closing near its high and may be overbought.
When the IBS value falls below the lower threshold (e.g., 0.1), it indicates the asset is closing near its low and may be oversold.
Use RSI to confirm overbought or oversold conditions identified by the IBS.
Incorporate moving averages to identify the overall trend and filter signals.
High trading volume can strengthen signals provided by the IBS.
If the price is making lower lows while the IBS is making higher lows, it may signal a potential upward reversal.
If the price is making higher highs and the IBS is making lower highs, a downward reversal might be imminent.
Conclusion
The Inner Bar Strength (IBS) indicator is a valuable tool for traders seeking to understand intraday momentum and potential reversal points. By measuring where the closing price lies within the day's range, it provides immediate insights into market sentiment. When used alongside other technical analysis tools, the IBS can enhance your trading strategy by identifying overbought or oversold conditions, confirming breakouts, and highlighting potential divergence signals.
Exposure Oscillator (Cumulative 0 to ±100%)
Exposure Oscillator (Cumulative 0 to ±100%)
This Pine Script indicator plots an "Exposure Oscillator" on the chart, which tracks the cumulative market exposure from a range of technical buy and sell signals. The exposure is measured on a scale from -100% (maximum short exposure) to +100% (maximum long exposure), helping traders assess the strength of their position in the market. It provides an intuitive visual cue to aid decision-making for trend-following strategies.
Buy Signals (Increase Exposure Score by +10%)
Buy Signal 1 (Cross Above 21 EMA):
This signal is triggered when the price crosses above the 21-period Exponential Moving Average (EMA), where the current bar closes above the EMA21, and the previous bar closed below the EMA21. This indicates a potential upward price movement as the market shifts into a bullish trend.
buySignal1 = ta.crossover(close, ema21)
Buy Signal 2 (Trending Above 21 EMA):
This signal is triggered when the price closes above the 21-period EMA for each of the last 5 bars, indicating a sustained bullish trend. It confirms that the price is consistently above the EMA21 for a significant period.
buySignal2 = ta.barssince(close <= ema21) > 5
Buy Signal 3 (Living Above 21 EMA):
This signal is triggered when the price has closed above the 21-period EMA for each of the last 15 bars, demonstrating a strong, prolonged uptrend.
buySignal3 = ta.barssince(close <= ema21) > 15
Buy Signal 4 (Cross Above 50 SMA):
This signal is triggered when the price crosses above the 50-period Simple Moving Average (SMA), where the current bar closes above the 50 SMA, and the previous bar closed below it. It indicates a shift toward bullish momentum.
buySignal4 = ta.crossover(close, sma50)
Buy Signal 5 (Cross Above 200 SMA):
This signal is triggered when the price crosses above the 200-period Simple Moving Average (SMA), where the current bar closes above the 200 SMA, and the previous bar closed below it. This suggests a long-term bullish trend.
buySignal5 = ta.crossover(close, sma200)
Buy Signal 6 (Low Above 50 SMA):
This signal is true when the lowest price of the current bar is above the 50-period SMA, indicating strong bullish pressure as the price maintains itself above the moving average.
buySignal6 = low > sma50
Buy Signal 7 (Accumulation Day):
An accumulation day occurs when the closing price is in the upper half of the daily range (greater than 50%) and the volume is larger than the previous bar's volume, suggesting buying pressure and accumulation.
buySignal7 = (close - low) / (high - low) > 0.5 and volume > volume
Buy Signal 8 (Higher High):
This signal occurs when the current bar’s high exceeds the highest high of the previous 14 bars, indicating a breakout or strong upward momentum.
buySignal8 = high > ta.highest(high, 14)
Buy Signal 9 (Key Reversal Bar):
This signal is generated when the stock opens below the low of the previous bar but rallies to close above the previous bar’s high, signaling a potential reversal from bearish to bullish.
buySignal9 = open < low and close > high
Buy Signal 10 (Distribution Day Fall Off):
This signal is triggered when a distribution day (a day with high volume and a close near the low of the range) "falls off" the rolling 25-bar period, indicating the end of a bearish trend or selling pressure.
buySignal10 = ta.barssince(close < sma50 and close < sma50) > 25
Sell Signals (Decrease Exposure Score by -10%)
Sell Signal 1 (Cross Below 21 EMA):
This signal is triggered when the price crosses below the 21-period Exponential Moving Average (EMA), where the current bar closes below the EMA21, and the previous bar closed above it. It suggests that the market may be shifting from a bullish trend to a bearish trend.
sellSignal1 = ta.crossunder(close, ema21)
Sell Signal 2 (Trending Below 21 EMA):
This signal is triggered when the price closes below the 21-period EMA for each of the last 5 bars, indicating a sustained bearish trend.
sellSignal2 = ta.barssince(close >= ema21) > 5
Sell Signal 3 (Living Below 21 EMA):
This signal is triggered when the price has closed below the 21-period EMA for each of the last 15 bars, suggesting a strong downtrend.
sellSignal3 = ta.barssince(close >= ema21) > 15
Sell Signal 4 (Cross Below 50 SMA):
This signal is triggered when the price crosses below the 50-period Simple Moving Average (SMA), where the current bar closes below the 50 SMA, and the previous bar closed above it. It indicates the start of a bearish trend.
sellSignal4 = ta.crossunder(close, sma50)
Sell Signal 5 (Cross Below 200 SMA):
This signal is triggered when the price crosses below the 200-period Simple Moving Average (SMA), where the current bar closes below the 200 SMA, and the previous bar closed above it. It indicates a long-term bearish trend.
sellSignal5 = ta.crossunder(close, sma200)
Sell Signal 6 (High Below 50 SMA):
This signal is true when the highest price of the current bar is below the 50-period SMA, indicating weak bullishness or a potential bearish reversal.
sellSignal6 = high < sma50
Sell Signal 7 (Distribution Day):
A distribution day is identified when the closing range of a bar is less than 50% and the volume is larger than the previous bar's volume, suggesting that selling pressure is increasing.
sellSignal7 = (close - low) / (high - low) < 0.5 and volume > volume
Sell Signal 8 (Lower Low):
This signal occurs when the current bar's low is less than the lowest low of the previous 14 bars, indicating a breakdown or strong downward momentum.
sellSignal8 = low < ta.lowest(low, 14)
Sell Signal 9 (Downside Reversal Bar):
A downside reversal bar occurs when the stock opens above the previous bar's high but falls to close below the previous bar’s low, signaling a reversal from bullish to bearish.
sellSignal9 = open > high and close < low
Sell Signal 10 (Distribution Cluster):
This signal is triggered when a distribution day occurs three times in the rolling 7-bar period, indicating significant selling pressure.
sellSignal10 = ta.valuewhen((close < low) and volume > volume , 1, 7) >= 3
Theme Mode:
Users can select the theme mode (Auto, Dark, or Light) to match the chart's background or to manually choose a light or dark theme for the oscillator's appearance.
Exposure Score Calculation: The script calculates a cumulative exposure score based on a series of buy and sell signals.
Buy signals increase the exposure score, while sell signals decrease it. Each signal impacts the score by ±10%.
Signal Conditions: The buy and sell signals are derived from multiple conditions, including crossovers with moving averages (EMA21, SMA50, SMA200), trend behavior, and price/volume analysis.
Oscillator Visualization: The exposure score is visualized as a line on the chart, changing color based on whether the exposure is positive (long position) or negative (short position). It is limited to the range of -100% to +100%.
Position Type: The indicator also indicates the position type based on the exposure score, labeling it as "Long," "Short," or "Neutral."
Horizontal Lines: Reference lines at 0%, 100%, and -100% visually mark neutral, increasing long, and increasing short exposure levels.
Exposure Table: A table displays the current exposure level (in percentage) and position type ("Long," "Short," or "Neutral"), updated dynamically based on the oscillator’s value.
Inputs:
Theme Mode: Choose "Auto" to use the default chart theme, or manually select "Dark" or "Light."
Usage:
This oscillator is designed to help traders track market sentiment, gauge exposure levels, and manage risk. It can be used for long-term trend-following strategies or short-term trades based on moving average crossovers and volume analysis.
The oscillator operates in conjunction with the chart’s price action and provides a visual representation of the market’s current trend strength and exposure.
Important Considerations:
Risk Management: While the exposure score provides valuable insight, it should be combined with other risk management tools and analysis for optimal trading decisions.
Signal Sensitivity: The accuracy and effectiveness of the signals depend on market conditions and may require adjustments based on the user’s trading strategy or timeframe.
Disclaimer:
This script is for educational purposes only. Trading involves significant risk, and users should carefully evaluate all market conditions and apply appropriate risk management strategies before using this tool in live trading environments.
Prometheus Fractal WaveThe Fractal Wave is an indicator that uses a fractal analysis to determine where reversals may happen. This is done through a Fractal process, making sure a price point is in a certain set and then getting a Distance metric.
Calculation:
A bullish Fractal is defined by the current bar’s high being less than the last bar’s high, and the last bar’s high being greater than the second to last bar’s high, and the last bar’s high being greater than the third to last bar’s high.
A bearish Fractal is defined by the current low being greater than the last bar’s low, and the last bar’s low being less than the second to last bar’s low, and the last bar’s low being less than the third to last bar’s low.
When there is that bullish or bearish fractal the value we store is either the last bar’s high or low respective to bullish or bearish fractal.
Once we have that value stored we either subtract the last bar’s low from the bullish Fractal value, and subtract the last bar’s high from the bearish Fractal value. Those are our Distances.
Code:
isBullishFractal() =>
high > high and high < high and high > high
isBearishFractal() =>
low < low and low > low and low < low
var float lastBullishFractal = na
var float lastBearishFractal = na
if isBullishFractal() and barstate.isconfirmed
lastBullishFractal := high
if isBearishFractal() and barstate.isconfirmed
lastBearishFractal := low
//------------------------------
//-------CACLULATION------------
//------------------------------
bullWaveDistance = na(lastBullishFractal) ? na : lastBullishFractal - low
bearWaveDistance = na(lastBearishFractal) ? na : high - lastBearishFractal
We then plot the bullish distance and the negative bearish distance.
The trade scenarios come from when one breaks the zero line and then goes back above or below. So if the last bullish distance was below 0 and is now above, or if the last negative bearish distance was above 0 and now below. We plot a green label below a candle for a bullish scenario, or a red label above a candle for a bearish one, you can turn them on or off.
Code:
plot(bullWaveDistance, color=color.green, title="Bull Wave Distance", linewidth=2)
plot(-bearWaveDistance, color=color.red, title="Bear Wave Distance", linewidth=2)
plot(0, "Zero Line", color=color.gray, display = display.pane)
bearish_reversal = plot_labels ? bullWaveDistance < 0 and bullWaveDistance > 0 : na
bullish_reversal = plot_labels ? -bearWaveDistance > 0 and -bearWaveDistance < 0 : na
plotshape(bullish_reversal, location=location.belowbar, color=color.green, style=shape.labelup, title="Bullish Fractal", text="↑", display = display.all - display.status_line, force_overlay = true)
plotshape(bearish_reversal, location=location.abovebar, color=color.red, style=shape.labeldown, title="Bearish Fractal", text="↓", display = display.all - display.status_line, force_overlay = true)
We can see in this daily NASDAQ:QQQ chart that the indicator gives us marks that can either be used as Reversal signals or as breathers in the trend.
Since it is designed to provide reversals, on something like Gold where the uptrend has been strong, the signals may be just short breathers, not full blown strong reversal signs.
The indicator works just as well intra day as it does on larger timeframes.
We encourage traders to not follow indicators blindly, none are 100% accurate. Please comment on any desired updates, all criticism is welcome!
Pivot Points LIVE [CHE]Title:
Pivot Points LIVE Indicator
Subtitle:
Advanced Pivot Point Analysis for Real-Time Trading
Presented by:
Chervolino
Date:
September 24, 2024
Introduction
What are Pivot Points?
Definition:
Pivot Points are technical analysis indicators used to determine potential support and resistance levels in financial markets.
Purpose:
They help traders identify possible price reversal points and make informed trading decisions.
Overview of Pivot Points LIVE :
A comprehensive indicator designed for real-time pivot point analysis.
Offers advanced features for enhanced trading strategies.
Key Features
Pivot Points LIVE Includes:
Dynamic Pivot Highs and Lows:
Automatically detects and plots pivot high (HH, LH) and pivot low (HL, LL) points.
Customizable Visualization:
Multiple options to display markers, price labels, and support/resistance levels.
Fractal Breakouts:
Identifies and marks breakout and breakdown events with symbols.
Line Connection Modes:
Choose between "All Separate" or "Sequential" modes for connecting pivot points.
Pivot Extension Lines:
Extends lines from the latest pivot point to the current bar for trend analysis.
Alerts:
Configurable alerts for breakout and breakdown events.
Inputs and Configuration
Grouping Inputs for Easy Customization:
Source / Length Left / Length Right:
Pivot High Source: High price by default.
Pivot Low Source: Low price by default.
Left and Right Lengths: Define the number of bars to the left and right for pivot detection.
Colors: Customizable colors for pivot high and low markers.
Options:
Display Settings:
Show HH, LL, LH, HL markers and price labels.
Display support/resistance level extensions.
Option to show levels as a fractal chaos channel.
Enable fractal breakout/down symbols.
Line Connection Mode:
Choose between "All Separate" or "Sequential" for connecting lines.
Line Management:
Set maximum number of lines to display.
Customize line colors, widths, and styles.
Pivot Extension Line:
Visibility: Toggle the display of the last pivot extension line.
Customization: Colors, styles, and width for extension lines.
How It Works - Calculating Pivot Points
Pivot High and Pivot Low Detection:
Pivot High (PH):
Identified when a high price is higher than a specified number of bars to its left and right.
Pivot Low (PL):
Identified when a low price is lower than a specified number of bars to its left and right.
Higher Highs, Lower Highs, Higher Lows, Lower Lows:
Higher High (HH): Current PH is higher than the previous PH.
Lower High (LH): Current PH is lower than the previous PH.
Higher Low (HL): Current PL is higher than the previous PL.
Lower Low (LL): Current PL is lower than the previous PL.
Visual Elements
Markers and Labels:
Shapes:
HH and LH: Downward triangles above the bar.
HL and LL: Upward triangles below the bar.
Labels:
Optionally display the price levels of HH, LH, HL, and LL on the chart.
Support and Resistance Levels:
Extensions:
Lines extending from pivot points to indicate potential support and resistance zones.
Chaos Channels:
Display levels as a fractal chaos channel for enhanced trend analysis.
Fractal Breakout Symbols:
Buy Signals: Upward triangles below the bar.
Sell Signals: Downward triangles above the bar.
Slide 7: Line Connection Modes
All Separate Mode:
Description:
Connects pivot highs with pivot highs and pivot lows with pivot lows separately.
Use Case:
Ideal for traders who want to analyze highs and lows independently.
Sequential Mode:
Description:
Connects all pivot points in the order they occur, regardless of being high or low.
Use Case:
Suitable for identifying overall trend direction and momentum.
Pivot Extension Lines
Purpose:
Trend Continuation:
Visualize the continuation of the latest pivot point's price level.
Customization:
Colors:
Differentiate between bullish and bearish extensions.
Styles:
Solid, dashed, or dotted lines based on user preference.
Width:
Adjustable line thickness for better visibility.
Dynamic Updates:
The extension line updates in real-time as new bars form, providing ongoing trend insights.
Alerts and Notifications
Configurable Alerts:
Fractal Break Arrow:
Triggered when a breakout or breakdown occurs.
Long and Short Signals:
Specific alerts for bullish breakouts (Long) and bearish breakdowns (Short).
Benefits:
Timely Notifications:
Stay informed of critical market movements without constant monitoring.
Automated Trading Strategies:
Integrate with trading bots or automated systems for executing trades based on alerts.
Customization and Optimization
User-Friendly Inputs:
Adjustable Parameters:
Tailor pivot detection sensitivity with left and right lengths.
Color and Style Settings:
Match the indicator aesthetics to personal or platform preferences.
Line Management:
Maximum Lines Displayed:
Prevent chart clutter by limiting the number of lines.
Dynamic Line Handling:
Automatically manage and delete old lines to maintain chart clarity.
Flexibility:
Adapt to Different Markets:
Suitable for various financial instruments including stocks, forex, and cryptocurrencies.
Scalability:
Efficiently handles up to 500 labels and 100 lines for comprehensive analysis.
Practical Use Cases
Identifying Key Support and Resistance:
Entry and Exit Points:
Use pivot levels to determine optimal trade entry and exit points.
Trend Confirmation:
Validate market trends through the connection of pivot points.
Breakout and Breakdown Strategies:
Trading Breakouts:
Enter long positions when price breaks above pivot highs.
Trading Breakdowns:
Enter short positions when price breaks below pivot lows.
Risk Management:
Setting Stop-Loss and Take-Profit Levels:
Utilize pivot levels to place strategic stop-loss and take-profit orders.
Slide 12: Benefits for Traders
Real-Time Analysis:
Provides up-to-date pivot points for timely decision-making.
Enhanced Visualization:
Clear markers and lines improve chart readability and analysis efficiency.
Customizable and Flexible:
Adapt the indicator to fit various trading styles and strategies.
Automated Alerts:
Stay ahead with instant notifications on key market events.
Comprehensive Toolset:
Combines pivot points with fractal analysis for deeper market insights.
Conclusion
Pivot Points LIVE is a robust and versatile indicator designed to enhance your trading strategy through real-time pivot point analysis. With its advanced features, customizable settings, and automated alerts, it equips traders with the tools needed to identify key market levels, execute timely trades, and manage risks effectively.
Ready to Elevate Your Trading?
Explore Pivot Points LIVE and integrate it into your trading toolkit today!
Q&A
Questions?
Feel free to ask any questions or request further demonstrations of the Pivot Points LIVE indicator.
Smart Money Concepts by WeloTradesThe "Smart Money Concepts by WeloTrades" indicator is designed to offer traders a comprehensive tool that integrates multiple advanced features to aid in market analysis. By combining order blocks, liquidity levels, fair value gaps, trendlines, and market structure analysis, the indicator provides a holistic approach to understanding market dynamics and making informed trading decisions.
Components and Their Integration:
Order Blocks and Breaker Blocks Detection
Functionality: Order blocks represent areas where significant buying or selling occurred, creating potential support or resistance zones. Breaker blocks signal potential reversals.
Integration: By detecting and visualizing these blocks, the indicator helps traders identify key levels where price might react, aiding in entry and exit decisions. The customizable settings allow traders to adjust the visibility and parameters to suit their specific trading strategy.
Liquidity Levels Analysis
Functionality: Liquidity levels indicate zones where significant price movements can occur due to the presence of large orders. These are areas where smart money might be executing trades.
Integration: By tracking these high-probability liquidity areas, traders can anticipate potential price movements. Customizable display limits and mitigation strategies ensure that the information is tailored to the trader’s needs, providing precise and actionable insights.
Fair Value Gaps (FVG)
Functionality: Fair value gaps highlight areas where there is an imbalance between buyers and sellers. These gaps often represent potential trading opportunities.
Integration: The ability to identify and analyze FVGs helps traders spot potential entries based on market inefficiencies. The touch and break detection functionalities provide further refinement, enhancing the precision of trading signals.
Trendlines
Functionality: Trendlines help in identifying the direction of the market and potential reversal points. The additional trendline adds a layer of confirmation for breaks or retests.
Integration: Automatically drawn trendlines assist traders in visualizing market trends and making decisions about potential entries and exits. The additional trendline for stronger confirmation reduces the risk of false signals, providing more reliable trading opportunities.
Market Structure Analysis
Functionality: Understanding market structure is crucial for identifying key support and resistance levels and overall market dynamics. This component displays internal, external, and composite market structures.
Integration: By automatically highlighting shifts in market structure, the indicator helps traders recognize important levels and potential changes in market direction. This analysis is critical for strategic planning and execution in trading.
Customizable Alerts
Functionality: Alerts ensure that traders do not miss significant market events, such as the formation or breach of order blocks, liquidity levels, and trendline interactions.
Integration: Customizable alerts enhance the user experience by providing timely notifications of key events. This feature ensures that traders can act quickly and efficiently, leveraging the insights provided by the indicator.
Interactive Visualization
Functionality: Customizable visual aspects of the indicator allow traders to tailor the display to their preferences and trading style.
Integration: This feature enhances user engagement and usability, making it easier for traders to interpret the data and make informed decisions. Personalization options like colors, styles, and display formats improve the overall effectiveness of the indicator.
How Components Work Together
Comprehensive Market Analysis
Each component of the indicator addresses a different aspect of market analysis. Order blocks and liquidity levels highlight potential support and resistance zones, while fair value gaps and trendlines provide additional context for potential entries and exits. Market structure analysis ties everything together by offering a broad view of market dynamics.
Synergistic Insights
The integration of multiple features allows for cross-validation of trading signals. For instance, an order block coinciding with a high-probability liquidity level and a fair value gap can provide a stronger signal than any of these features alone. This synergy enhances the reliability of the insights and trading signals generated by the indicator.
Enhanced Decision Making
By combining these advanced features into a single tool, traders are equipped with a powerful resource for making informed decisions. The customizable alerts and interactive visualization further support this by ensuring that traders can act quickly on the insights provided.
Order Blocks ( OB) & Breaker Blocks (BB) Visuals:
📝 OB Input Settings
📊 Timeframe #1
TF #1🕑: Enable or disable Timeframe 1.
What it is: A boolean input to toggle the use of the first timeframe.
What it does: Enables or disables Timeframe 1 for the OB settings.
How to use it: Check or uncheck the box to enable or disable.
📊 Timeframe 1 Selection
Timeframe #1🕑: Select the timeframe for Timeframe 1.
What it is: A dropdown to select the desired timeframe.
What it does: Sets the timeframe for Timeframe 1.
How to use it: Choose a timeframe from the dropdown list.
📊 Timeframe #2
TF #2🕑: Enable or disable Timeframe 2.
What it is: A boolean input to toggle the use of the second timeframe.
What it does: Enables or disables Timeframe 2 for the OB settings.
How to use it: Check or uncheck the box to enable or disable.
📊 Timeframe 2 Selection
Timeframe #2🕑: Select the timeframe for Timeframe 2.
What it is: A dropdown to select the desired timeframe.
What it does: Sets the timeframe for Timeframe 2.
How to use it: Choose a timeframe from the dropdown list.
Additional Info: Higher TF Chart & Lower TF Setting / Lower TF Chart & Higher TF Setting.
📏 Show OBs
OB (Length)📏: Toggle the display of Order Blocks.
What it is: A boolean input to enable or disable the display of Order Blocks.
What it does: Shows or hides Order Blocks based on the selected swing length.
How to use it: Check or uncheck the box to enable or disable.
📏 Swing Length Option
Swing Length Option: Select the swing length option.
What it is: A dropdown to choose between SHORT, MID, LONG, or CUSTOM.
What it does: Sets the length of swings for Order Blocks.
How to use it: Choose an option from the dropdown.
Additional Info: Default lengths are SHORT=10, MID=28, LONG=50.
🔧 Custom Swing Length
🔧custom: Specify a custom swing length.
What it is: An integer input for setting a custom swing length.
What it does: Overrides the default swing lengths if set to CUSTOM.
How to use it: Enter a custom integer value (only shown when CUSTOM is selected).
📛 Show BBs
BB (Method)📛: Toggle the display of Breaker Blocks.
What it is: A boolean input to enable or disable the display of Breaker Blocks.
What it does: Shows or hides Breaker Blocks.
How to use it: Check or uncheck the box to enable or disable.
📛 OB End Method
OB End Method: Select the method for determining the end of a Breaker Block.
What it is: A dropdown to choose between Wick and Close.
What it does: Sets the criteria for when a Breaker Block is considered mitigated.
How to use it: Choose an option from the dropdown.
Additional Info: Wicks: OB is mitigated when the price wicks through the OB Level. Close: OB is mitigated when the closing price is within the OB Level.
🔍 Max Bullish Zones
🔍Max Bullish: Set the maximum number of Bullish Order Blocks to display.
What it is: A dropdown to select the maximum number of Bullish Order Blocks.
What it does: Limits the number of Bullish Order Blocks shown on the chart.
How to use it: Choose a value from the dropdown (1-10).
🔍 Max Bearish Zones
🔍Max Bearish: Set the maximum number of Bearish Order Blocks to display.
What it is: A dropdown to select the maximum number of Bearish Order Blocks.
What it does: Limits the number of Bearish Order Blocks shown on the chart.
How to use it: Choose a value from the dropdown (1-10).
🟩 Bullish OB Color
Bullish OB Color: Set the color for Bullish Order Blocks.
What it is: A color picker to set the color of Bullish Order Blocks.
What it does: Changes the color of Bullish Order Blocks on the chart.
How to use it: Select a color from the color picker.
🟥 Bearish OB Color
Bearish OB Color: Set the color for Bearish Order Blocks.
What it is: A color picker to set the color of Bearish Order Blocks.
What it does: Changes the color of Bearish Order Blocks on the chart.
How to use it: Select a color from the color picker.
🔧 OB & BB Range
↔ OB & BB Range: Select the range option for OB and BB.
What it is: A dropdown to choose between RANGE and CUSTOM.
What it does: Sets how far the OB or BB should extend.
How to use it: Choose an option from the dropdown.
Additional Info: RANGE = Current price, CUSTOM = Adjustable Range.
🔧 Custom OB & BB Range
🔧Custom: Specify a custom range for OB and BB.
What it is: An integer input for setting a custom range.
What it does: Defines how far the OB or BB should go, based on a custom value.
How to use it: Enter a custom integer value (range: 1000-500000).
💬 Text Options
💬Text Options: Set text size and color for OB and BB.
What it is: A dropdown to select text size and a color picker to choose text color.
What it does: Changes the size and color of the text displayed for OB and BB.
How to use it: Select a size from the dropdown and a color from the color picker.
💬 Show Timeframe OB
Text: Toggle to display the timeframe of OB.
What it is: A boolean input to show or hide the timeframe text for OB.
What it does: Displays the timeframe information for Order Blocks on the chart.
How to use it: Check or uncheck the box to enable or disable.
💬 Show Volume
Volume: Toggle to display the volume of OB.
What it is: A boolean input to show or hide the volume information for Order Blocks.
What it does: Displays the volume information for Order Blocks on the chart.
How to use it: Check or uncheck the box to enable or disable.
Additional Info:
What it represents: The volume displayed represents the total trading volume that occurred during the formation of the Order Block. This can indicate the level of participation or interest in that price level.
How it's calculated: The volume is the sum of all traded volumes within the candles that form the Order Block.
What it means: Higher volume at an Order Block level may suggest stronger support or resistance. It shows the amount of trading activity and can be an indicator of the potential strength or validity of the Order Block.
Why it's shown: To give traders an idea of the market participation and to help assess the strength of the Order Block.
💬 Show Percentage
%: Toggle to display the percentage of OB.
What it is: A boolean input to show or hide the percentage information for Order Blocks.
What it does: Displays the percentage information for Order Blocks on the chart.
How to use it: Check or uncheck the box to enable or disable.
Additional Info:
What it represents: The percentage displayed usually represents the proportion of price movement relative to the Order Block.
How it's calculated: This can be the percentage move from the start to the end of the Order Block or the retracement level that price has reached relative to the Order Block's range.
What it means: It helps traders understand the extent of price movement within the Order Block and can indicate the significance of the price level.
Why it's shown: To provide a clearer understanding of the price dynamics and the importance of the Order Block within the overall price movement.
Additional Information
Volume Example: If an Order Block forms over three candles with volumes of 100, 150, and 200, the total volume displayed for that Order Block would be 450.
Percentage Example: If the price moves from 100 to 110 within an Order Block, and the total range of the Order Block is from 100 to 120, the percentage shown might be 50% (since the price has moved halfway through the Order Block's range).
Liquidity Levels visuals:
📊 Liquidity Levels Input Settings
📊 Current Timeframe
TF #1🕑: Enable or disable the current timeframe.
What it is: A boolean input to toggle the use of the current timeframe.
What it does: Enables or disables the display of liquidity levels for the current timeframe.
How to use it: Check or uncheck the box to enable or disable.
📊 Higher Timeframe
Higher Timeframe: Select the higher timeframe for liquidity levels.
What it is: A dropdown to select the desired higher timeframe.
What it does: Sets the higher timeframe for liquidity levels.
How to use it: Choose a timeframe from the dropdown list.
📏 Liquidity Length Option
📏Liquidity Length: Select the length for liquidity levels.
What it is: A dropdown to choose between SHORT, MID, LONG, or CUSTOM.
What it does: Sets the length of swings for liquidity levels.
How to use it: Choose an option from the dropdown.
Additional Info: Default lengths are SHORT=10, MID=28, LONG=50.
🔧 Custom Liquidity Length
🔧custom: Specify a custom length for liquidity levels.
What it is: An integer input for setting a custom swing length.
What it does: Overrides the default liquidity lengths if set to CUSTOM.
How to use it: Enter a custom integer value (only shown when CUSTOM is selected).
📛 Mitigation Method
📛Mitigation (Method): Select the method for determining the mitigation of liquidity levels.
What it is: A dropdown to choose between Close and Wick.
What it does: Sets the criteria for when a liquidity level is considered mitigated.
How to use it: Choose an option from the dropdown.
Additional Info:
Wick: Level is mitigated when the price wicks through the level.
Close: Level is mitigated when the closing price is within the level.
📛 Display Mitigated Levels
-: Select to display or hide mitigated levels.
What it is: A dropdown to choose between Remove and Show.
What it does: Displays or hides mitigated liquidity levels.
How to use it: Choose an option from the dropdown.
Additional Info:
Remove: Hide mitigated levels.
Show: Display mitigated levels.
🔍 Max Buy Side Liquidity
🔍Max Buy Side Liquidity: Set the maximum number of Buy Side Liquidity Levels to display.
What it is: An integer input to set the maximum number of Buy Side Liquidity Levels.
What it does: Limits the number of Buy Side Liquidity Levels shown on the chart.
How to use it: Enter a value between 0 and 50.
🟦 Buy Side Liquidity Color
Buy Side Liquidity Color: Set the color for Buy Side Liquidity Levels.
What it is: A color picker to set the color of Buy Side Liquidity Levels.
What it does: Changes the color of Buy Side Liquidity Levels on the chart.
How to use it: Select a color from the color picker.
Additional Info:
Tooltip: Set the maximum number of Buy Side Liquidity Levels to display. Default: 5, Min: 1, Max: 50.
If liquidity levels are not displayed as expected, try increasing the max count.
🔍 Max Sell Side Liquidity
🔍Max Sell Side Liquidity: Set the maximum number of Sell Side Liquidity Levels to display.
What it is: An integer input to set the maximum number of Sell Side Liquidity Levels.
What it does: Limits the number of Sell Side Liquidity Levels shown on the chart.
How to use it: Enter a value between 0 and 50.
🟥 Sell Side Liquidity Color
Sell Side Liquidity Color: Set the color for Sell Side Liquidity Levels.
What it is: A color picker to set the color of Sell Side Liquidity Levels.
What it does: Changes the color of Sell Side Liquidity Levels on the chart.
How to use it: Select a color from the color picker.
Additional Info:
Tooltip: Set the maximum number of Sell Side Liquidity Levels to display. Default: 5, Min: 1, Max: 50.
If liquidity levels are not displayed as expected, try increasing the max count.
✂ Box Style (Height)
✂ Box Style (↕): Set the box height style for liquidity levels.
What it is: A float input to set the height of the boxes.
What it does: Adjusts the height of the boxes displaying liquidity levels.
How to use it: Enter a value between -50 and 50.
Additional Info: Default value is -5.
📏 Box Length
b: Set the box length of liquidity levels.
What it is: An integer input to set the length of the boxes.
What it does: Adjusts the length of the boxes displaying liquidity levels.
How to use it: Enter a value between 0 and 500.
Additional Info: Default value is 20.
⏭ Extend Liquidity Levels
Extend ⏭: Toggle to extend liquidity levels beyond the current range.
What it is: A boolean input to enable or disable the extension of liquidity levels.
What it does: Extends liquidity levels beyond their default range.
How to use it: Check or uncheck the box to enable or disable.
Additional Info: Extend liquidity levels beyond the current range.
💬 Text Options
💬 Text Options: Set text size and color for liquidity levels.
What it is: A dropdown to select text size and a color picker to choose text color.
What it does: Changes the size and color of the text displayed for liquidity levels.
How to use it: Select a size from the dropdown and a color from the color picker.
💬 Show Text
Text: Toggle to display text for liquidity levels.
What it is: A boolean input to show or hide the text for liquidity levels.
What it does: Displays the text information for liquidity levels on the chart.
How to use it: Check or uncheck the box to enable or disable.
💬 Show Volume
Volume: Toggle to display the volume of liquidity levels.
What it is: A boolean input to show or hide the volume information for liquidity levels.
What it does: Displays the volume information for liquidity levels on the chart.
How to use it: Check or uncheck the box to enable or disable.
Additional Info:
What it represents: The volume displayed represents the total trading volume that occurred during the formation of the liquidity level. This can indicate the level of participation or interest in that price level.
How it's calculated: The volume is the sum of all traded volumes within the candles that form the liquidity level.
What it means: Higher volume at a liquidity level may suggest stronger support or resistance. It shows the amount of trading activity and can be an indicator of the potential strength or validity of the liquidity level.
Why it's shown: To give traders an idea of the market participation and to help assess the strength of the liquidity level.
💬 Show Percentage
%: Toggle to display the percentage of liquidity levels.
What it is: A boolean input to show or hide the percentage information for liquidity levels.
What it does: Displays the percentage information for liquidity levels on the chart.
How to use it: Check or uncheck the box to enable or disable.
Additional Info:
What it represents: The percentage displayed usually represents the proportion of price movement relative to the liquidity level.
How it's calculated: This can be the percentage move from the start to the end of the liquidity level or the retracement level that price has reached relative to the liquidity level's range.
What it means: It helps traders understand the extent of price movement within the liquidity level and can indicate the significance of the price level.
Why it's shown: To provide a clearer understanding of the price dynamics and the importance of the liquidity level within the overall price movement.
Fair Value Gaps visuals:
📊 Fair Value Gaps Input Settings
📊 Show FVG
TF #1🕑: Enable or disable Fair Value Gaps for Timeframe 1.
What it is: A boolean input to toggle the display of Fair Value Gaps.
What it does: Shows or hides Fair Value Gaps on the chart.
How to use it: Check or uncheck the box to enable or disable.
📊 Select Timeframe
Timeframe: Select the timeframe for Fair Value Gaps.
What it is: A dropdown to select the desired timeframe.
What it does: Sets the timeframe for Fair Value Gaps.
How to use it: Choose a timeframe from the dropdown list.
Additional Info: Higher TF Chart & Lower TF Setting or Lower TF Chart & Higher TF Setting.
📛 FVG Break Method
📛FVG Break (Method): Select the method for determining when an FVG is mitigated.
What it is: A dropdown to choose between Touch, Wicks, Close, or Average.
What it does: Sets the criteria for when a Fair Value Gap is considered mitigated.
How to use it: Choose an option from the dropdown.
Additional Info:
Touch: FVG is mitigated when the price touches the gap.
Wicks: FVG is mitigated when the price wicks through the gap.
Close: FVG is mitigated when the closing price is within the gap.
Average: FVG is mitigated when the average price (average of high and low) is within the gap.
📛 Show Mitigated FVG
show: Toggle to display mitigated FVGs.
What it is: A boolean input to show or hide mitigated Fair Value Gaps.
What it does: Displays or hides mitigated Fair Value Gaps.
How to use it: Check or uncheck the box to enable or disable.
📛 Fill FVG
Fill: Toggle to fill Fair Value Gaps.
What it is: A boolean input to fill the Fair Value Gaps with color.
What it does: Adds a color fill to the Fair Value Gaps.
How to use it: Check or uncheck the box to enable or disable.
📛 Shade FVG
Shade: Toggle to shade Fair Value Gaps.
What it is: A boolean input to shade the Fair Value Gaps.
What it does: Adds a shade effect to the Fair Value Gaps.
How to use it: Check or uncheck the box to enable or disable.
Additional Info: Select the method to break FVGs and toggle the visibility of FVG Breaks (fill FVG and/or shade FVG).
🔍 Max Bullish FVG
🔍Max Bullish FVG: Set the maximum number of Bullish Fair Value Gaps to display.
What it is: An integer input to set the maximum number of Bullish Fair Value Gaps.
What it does: Limits the number of Bullish Fair Value Gaps shown on the chart.
How to use it: Enter a value between 0 and 50.
🔍 Max Bearish FVG
🔍Max Bearish FVG: Set the maximum number of Bearish Fair Value Gaps to display.
What it is: An integer input to set the maximum number of Bearish Fair Value Gaps.
What it does: Limits the number of Bearish Fair Value Gaps shown on the chart.
How to use it: Enter a value between 0 and 50.
🟥 Bearish FVG Color
Bearish FVG Color: Set the color for Bearish Fair Value Gaps.
What it is: A color picker to set the color of Bearish Fair Value Gaps.
What it does: Changes the color of Bearish Fair Value Gaps on the chart.
How to use it: Select a color from the color picker.
Additional Info:
Tooltip: Set the maximum number of Bearish Fair Value Gaps to display. Default: 5, Min: 1, Max: 50.
If Fair Value Gaps are not displayed as expected, try increasing the max count.
🟦 Bullish FVG Color
Bullish FVG Color: Set the color for Bullish Fair Value Gaps.
What it is: A color picker to set the color of Bullish Fair Value Gaps.
What it does: Changes the color of Bullish Fair Value Gaps on the chart.
How to use it: Select a color from the color picker.
Additional Info:
Tooltip: Set the maximum number of Bullish Fair Value Gaps to display. Default: 5, Min: 1, Max: 50.
If Fair Value Gaps are not displayed as expected, try increasing the max count.
📏 FVG Range
↔ FVG Range: Set the range for Fair Value Gaps.
What it is: An integer input to set the range of the Fair Value Gaps.
What it does: Adjusts the range of the Fair Value Gaps displayed.
How to use it: Enter a value between 0 and 100.
Additional Info: Adjustable length only works when both RANGE & EXTEND display OFF. Range=current price, Extend=Full Range.
⏭ Extend FVG
Extend⏭: Toggle to extend Fair Value Gaps beyond the current range.
What it is: A boolean input to enable or disable the extension of Fair Value Gaps.
What it does: Extends Fair Value Gaps beyond their default range.
How to use it: Check or uncheck the box to enable or disable.
⏯ FVG Range
Range⏯: Toggle the range of Fair Value Gaps.
What it is: A boolean input to enable or disable the range display for Fair Value Gaps.
What it does: Sets the range of Fair Value Gaps displayed.
How to use it: Check or uncheck the box to enable or disable.
↕ Max Width
↕ Max Width: Set the maximum width of Fair Value Gaps.
What it is: A float input to set the maximum width of Fair Value Gaps.
What it does: Limits the width of Fair Value Gaps as a percentage of the price range.
How to use it: Enter a value between 0 and 5.0.
Additional Info: FVGs wider than this value will be ignored.
♻ Filter FVG
Filter FVG ♻: Toggle to filter out small Fair Value Gaps.
What it is: A boolean input to filter out small Fair Value Gaps.
What it does: Ignores Fair Value Gaps smaller than the specified max width.
How to use it: Check or uncheck the box to enable or disable.
➖ Mid Line Style
➖Mid Line Style: Select the style of the mid line for Fair Value Gaps.
What it is: A dropdown to choose between Solid, Dashed, or Dotted.
What it does: Sets the style of the mid line within Fair Value Gaps.
How to use it: Choose an option from the dropdown.
🎨 Mid Line Color
Mid Line Color: Set the color for the mid line within Fair Value Gaps.
What it is: A color picker to set the color of the mid line.
What it does: Changes the color of the mid line within Fair Value Gaps.
How to use it: Select a color from the color picker.
Additional Information
Mitigation Methods: Each method (Touch, Wicks, Close, Average) provides different criteria for when a Fair Value Gap is considered mitigated, helping traders to understand the dynamics of price movements within gaps.
Volume and Percentage: Displaying volume and percentage information for Fair Value Gaps helps traders gauge the strength and significance of these gaps in relation to trading activity and price movements.
Trendlines visuals:
📊 Trendlines Input Settings
📊 Show Trendlines
Trendlines & Trendlines Difference(%) ↕: Enable or disable trendlines and set the percentage difference from the first trendline.
What it is: A boolean input to toggle the display of trendlines.
What it does: Shows or hides trendlines on the chart and allows setting a percentage difference from the first trendline.
How to use it: Check or uncheck the box to enable or disable.
Additional Info: The percentage difference determines the distance of the second trendline from the first one.
📏 Trendline Length Option
📏Trendline Length: Select the length for trendlines.
What it is: A dropdown to choose between SHORT, MID, LONG, or CUSTOM.
What it does: Sets the length of trendlines.
How to use it: Choose an option from the dropdown.
Additional Info: Default lengths are SHORT=50, MID=100, LONG=200.
🔧 Custom Trendline Length
🔧custom: Specify a custom length for trendlines.
What it is: An integer input for setting a custom trendline length.
What it does: Overrides the default trendline lengths if set to CUSTOM.
How to use it: Enter a custom integer value (only shown when CUSTOM is selected).
🔍 Max Bearish Trendlines
🔍Max Trendlines Bearish: Set the maximum number of bearish trendlines to display.
What it is: A dropdown to select the maximum number of bearish trendlines.
What it does: Limits the number of bearish trendlines shown on the chart.
How to use it: Choose a value from the dropdown (2-20).
🟩 Bearish Trendline Color
Bearish Trendline Color: Set the color for bearish trendlines.
What it is: A color picker to set the color of bearish trendlines.
What it does: Changes the color of bearish trendlines on the chart.
How to use it: Select a color from the color picker.
Additional Info: Adjust to control how many bearish trendlines are displayed.
🔍 Max Bullish Trendlines
🔍Max Trendlines Bullish: Set the maximum number of bullish trendlines to display.
What it is: A dropdown to select the maximum number of bullish trendlines.
What it does: Limits the number of bullish trendlines shown on the chart.
How to use it: Choose a value from the dropdown (2-20).
🟥 Bullish Trendline Color
Bullish Trendline Color: Set the color for bullish trendlines.
What it is: A color picker to set the color of bullish trendlines.
What it does: Changes the color of bullish trendlines on the chart.
How to use it: Select a color from the color picker.
Additional Info: Adjust to control how many bullish trendlines are displayed.
📐 Degrees Text
📐Degrees ° (💬 Size): Enable or disable degrees text and set its size and color.
What it is: A boolean input to show or hide the degrees text for trendlines.
What it does: Displays the degrees text for trendlines.
How to use it: Check or uncheck the box to enable or disable.
📏 Text Size for Degrees
Text Size: Set the text size for degrees on trendlines.
What it is: A dropdown to select the size of the degrees text.
What it does: Changes the size of the degrees text displayed for trendlines.
How to use it: Choose a size from the dropdown (XS, S, M, L, XL).
🎨 Degrees Text Color
Degrees Text Color: Set the color for the degrees text on trendlines.
What it is: A color picker to set the color of the degrees text.
What it does: Changes the color of the degrees text on the chart.
How to use it: Select a color from the color picker.
♻ Filter Degrees
♻ Filter Degrees °: Enable or disable angle filtering and set the angle range.
What it is: A boolean input to filter trendlines by their angle.
What it does: Shows only trendlines within a specified angle range.
How to use it: Check or uncheck the box to enable or disable.
Additional Info: Angles outside this range will be filtered out.
🔢 Angle Range
Angle Range: Set the angle range for filtering trendlines.
What it is: Two float inputs to set the minimum and maximum angle for trendlines.
What it does: Defines the range of angles for which trendlines will be shown.
How to use it: Enter values for the minimum and maximum angles.
➖ Line Style
➖Style #1 & #2: Select the style of the primary and secondary trendlines.
What it is: Two dropdowns to choose between Solid, Dashed, or Dotted for the trendlines.
What it does: Sets the style of the primary and secondary trendlines.
How to use it: Choose a style from each dropdown.
📏 Line Thickness
: Set the thickness for the trendlines.
What it is: An integer input to set the thickness of the trendlines.
What it does: Adjusts the thickness of the trendlines displayed on the chart.
How to use it: Enter a value between 1 and 5.
Additional Information
Trendline Percentage Difference: Setting a percentage difference helps in analyzing the relative position and angle of trendlines.
Filtering by Angle: This feature allows focusing on trendlines within a specific angle range, enhancing the clarity of trend analysis.
BOS & CHOCH Market Structure visuals:
📊 BOS & CHOCH Market Structure Input Settings
📏 Market Structure Length Option
📏Market Structure: Select the market structure length option.
What it is: A dropdown to choose between INTERNAL, EXTERNAL, ALL, CUSTOM, or NONE.
What it does: Sets the type of market structure to be displayed.
How to use it: Choose an option from the dropdown.
Additional Info:
INTERNAL: Only internal structure.
EXTERNAL: Only external structure.
ALL: Both internal and external structures.
CUSTOM: Custom lengths.
NONE: No structure.
🔧 Custom Internal Length
🔧Custom Internal: Specify a custom length for internal market structure.
What it is: An integer input for setting a custom internal length.
What it does: Defines the length of internal market structures if CUSTOM is selected.
How to use it: Enter a custom integer value (only shown when CUSTOM is selected).
💬 Internal Label Size
💬Internal Label Size: Set the label size for internal market structures.
What it is: A dropdown to select the size of the labels.
What it does: Changes the size of the labels for internal market structures.
How to use it: Choose a size from the dropdown (XS, S, M, L, XL).
🟩 Internal Bullish Color
Internal Bullish Color: Set the color for bullish internal market structures.
What it is: A color picker to set the color of bullish internal market structures.
What it does: Changes the color of bullish internal market structures on the chart.
How to use it: Select a color from the color picker.
🟥 Internal Bearish Color
Internal Bearish Color: Set the color for bearish internal market structures.
What it is: A color picker to set the color of bearish internal market structures.
What it does: Changes the color of bearish internal market structures on the chart.
How to use it: Select a color from the color picker.
🔧 Custom External Length
🔧Custom External: Specify a custom length for external market structure.
What it is: An integer input for setting a custom external length.
What it does: Defines the length of external market structures if CUSTOM is selected.
How to use it: Enter a custom integer value (only shown when CUSTOM is selected).
💬 External Label Size
💬External Label Size: Set the label size for external market structures.
What it is: A dropdown to select the size of the labels.
What it does: Changes the size of the labels for external market structures.
How to use it: Choose a size from the dropdown (XS, S, M, L, XL).
🟩 External Bullish Color
External Bullish Color: Set the color for bullish external market structures.
What it is: A color picker to set the color of bullish external market structures.
What it does: Changes the color of bullish external market structures on the chart.
How to use it: Select a color from the color picker.
🟥 External Bearish Color
External Bearish Color: Set the color for bearish external market structures.
What it is: A color picker to set the color of bearish external market structures.
What it does: Changes the color of bearish external market structures on the chart.
How to use it: Select a color from the color picker.
📐 Show Equal Highs and Lows
EQL & EQH📐: Toggle visibility for equal highs and lows.
What it is: A boolean input to show or hide equal highs and lows.
What it does: Displays or hides equal highs and lows on the chart.
How to use it: Check or uncheck the box to enable or disable.
📏 Equal Highs and Lows Threshold
Equal Highs and Lows Threshold: Set the threshold for equal highs and lows.
What it is: A float input to set the threshold for equal highs and lows.
What it does: Defines the range within which highs and lows are considered equal.
How to use it: Enter a value between 0 and 10.
💬 Label Size for Equal Highs and Lows
💬Label Size for Equal Highs and Lows: Set the label size for equal highs and lows.
What it is: A dropdown to select the size of the labels.
What it does: Changes the size of the labels for equal highs and lows.
How to use it: Choose a size from the dropdown (XS, S, M, L, XL).
🟩 Bullish Color for Equal Highs and Lows
Bullish Color for Equal Highs and Lows: Set the color for bullish equal highs and lows.
What it is: A color picker to set the color of bullish equal highs and lows.
What it does: Changes the color of bullish equal highs and lows on the chart.
How to use it: Select a color from the color picker.
🟥 Bearish Color for Equal Highs and Lows
Bearish Color for Equal Highs and Lows: Set the color for bearish equal highs and lows.
What it is: A color picker to set the color of bearish equal highs and lows.
What it does: Changes the color of bearish equal highs and lows on the chart.
How to use it: Select a color from the color picker.
📏 Show Swing Points
Swing Points📏: Toggle visibility for swing points.
What it is: A boolean input to show or hide swing points.
What it does: Displays or hides swing points on the chart.
How to use it: Check or uncheck the box to enable or disable.
📏 Swing Points Length Option
Swing Points Length Option: Select the length for swing points.
What it is: A dropdown to choose between SHORT, MID, LONG, or CUSTOM.
What it does: Sets the length of swing points.
How to use it: Choose an option from the dropdown.
Additional Info: Default lengths are SHORT=10, MID=28, LONG=50.
💬 Swing Points Label Size
💬Swing Points Label Size: Set the label size for swing points.
What it is: A dropdown to select the size of the labels.
What it does: Changes the size of the labels for swing points.
How to use it: Choose a size from the dropdown (XS, S, M, L, XL).
🎨 Swing Points Color
Swing Points Color: Set the color for swing points.
What it is: A color picker to set the color of swing points.
What it does: Changes the color of swing points on the chart.
How to use it: Select a color from the color picker.
🔧 Custom Swing Points Length
🔧Custom Swings: Specify a custom length for swing points.
What it is: An integer input for setting a custom length for swing points.
What it does: Defines the length of swing points if CUSTOM is selected.
How to use it: Enter a custom integer value (only shown when CUSTOM is selected).
Additional Information
Market Structure Types: Understanding internal and external structures helps in analyzing different market behaviors.
Equal Highs and Lows: This feature identifies areas where price action is balanced, which can be significant for trading strategies.
Swing Points: Highlighting swing points aids in recognizing significant market reversals or continuations.
Benefits
Enhance your trading strategy by visualizing smart money's influence on price movements.
Make informed decisions with real-time data on significant market structures.
Reduce manual analysis with automated detection of key trading signals.
Ideal For
Traders looking for an edge in forex, equities, and cryptocurrency markets by understanding the underlying forces driving market dynamics.
Acknowledgements
Special thanks to these amazing creators for inspiration and their creations:
I want to thank these amazing creators for creating there amazing indicators , that inspired me and also gave me a head start by making this indicator! Without their amazing indicators it wouldn't be possible!
Flux Charts: Volumized Order Blocks
LuxAlgo: Trend Lines
UAlgo: Fair Value Gaps (FVG)
By Leviathan: Market Structure
Sonarlab: Liquidity Levels
Note
Remember to always backtest the indicator first before integrating it into your strategy! For any questions about the indicator, please feel free to ask for assistance.
HTF TriangleHTF Triangle by ZeroHeroTrading aims at detecting ascending and descending triangles using higher time frame data, without repainting nor misalignment issues.
It addresses user requests for combining Ascending Triangle and Descending Triangle into one indicator.
Ascending triangles are defined by an horizontal upper trend line and a rising lower trend line. It is a chart pattern used in technical analysis to predict the continuation of an uptrend.
Descending triangles are defined by a falling upper trend line and an horizontal lower trend line. It is a chart pattern used in technical analysis to predict the continuation of a downtrend.
This indicator can be useful if you, like me, believe that higher time frames can offer a broader perspective and provide clearer signals, smoothing out market noise and showing longer-term trends.
You can change the indicator settings as you see fit to tighten or loosen the detection, and achieve the best results for your use case.
Features
It draws the detected ascending and descending triangles on the chart.
It supports alerting when a detection occurs.
It allows for selecting ascending and/or descending triangle detection.
It allows for setting the higher time frame to run the detection on.
It allows for setting the minimum number of consecutive valid higher time frame bars to fit the pattern criteria.
It allows for setting a high/low factor detection criteria to apply on higher time frame bars high/low as a proportion of the distance between the reference bar high/low and open/close.
It allows for turning on an adjustment of the triangle using highest/lowest values within valid higher time frame bars.
Settings
Ascending checkbox: Turns on/off ascending triangle detection. Default is on.
Descending checkbox: Turns on/off descending triangle detection. Default is on.
Higher Time Frame dropdown: Selects higher time frame to run the detection on. It must be higher than, and a multiple of, the chart's timeframe. Default is 5 minutes.
Valid Bars Minimum field: Sets minimum number of consecutive valid higher time frame bars to fit the pattern criteria. Default is 3. Minimum is 1.
High/Low Factor checkbox: Turns on/off high/low factor detection criteria. Default is on.
High/Low Factor field: Sets high/low factor to apply on higher time frame bars high/low as a proportion of the distance between the reference bar high/low and open/close. Default is 0. Minimum is 0. Maximum is 1.
Adjust Triangle checkbox: Turns on/off triangle adjustment using highest/lowest values within valid higher time frame bars. Default is on.
Detection Algorithm Notes
The detection algorithm recursively selects a higher time frame bar as reference. Then it looks at the consecutive higher time frame bars (as per the requested number of minimum valid bars) as follows:
Ascending Triangle
Low must be higher than previous bar.
Open/close max value must be lower than (or equal to) reference bar high.
When high/low factor criteria is turned on, high must be higher than (or equal to) reference bar open/close max value plus high/low factor proportion of the distance between reference bar high and open/close max value.
Descending Triangle
High must be lower than previous bar.
Open/close min value must be higher than (or equal to) reference bar low.
When high/low factor criteria is turned on, low must be lower than (or equal to) reference bar open/close min value minus high/low factor proportion of the distance between reference bar low and open/close min value.
Power Trends [UkutaLabs]█ OVERVIEW
The Power Trends Indicator is a versatile trading toolkit that offers unique insight into key price levels in the market. This script uses currently relevant price-action information to automatically detect pivot levels and use them to create powerful trendlines.
The aim of this script is to improve the trading experience of users by offering a versatile toolkit that can be used in a wide variety of trading strategies to help simplify the complexities of the market.
█ USAGE
The Power Trends Indicator will automatically identify pivot points in real-time using recent price-action information to ensure that all points being identified are relevant. Using these pivot points, the script then draws powerful trend lines that can be used as levels of resistance and support.
To ensure that only the most relevant information is being presented, only the most recent trend lines will be displayed on the user’s charts. As new trend lines are being drawn, older trend lines will become thinner so that traders can identify the most relevant lines at a glance.
The price of the most recent high and low pivot points will also be displayed on the chart and can be used as further levels of resistance and support.
When a recent pivot level is broken, it will be identified as a Break of Structure. This signifies that there may have been a change in market strength.
The Power Trends Indicator also supports multiple time frame mapping, allowing you to mirror the trend lines that would be drawn on higher time frame charts onto lower time frame charts. This feature allows traders to be aware of the market structure of multiple charts at a glance from a single chart.
When mirroring some higher time frame trend lines, lines may appear to not align properly with current time frame bars. This is done intentionally to ensure lines are being drawn accurately to their position on the higher time frame charts.
█ SETTINGS
Current Time Frame
• Display (On/Off): Determines whether or not trend lines are drawn from the current time frame.
• High Color: Determines the color of trend lines drawn on high pivots.
• Low Color: Determines the color of trend lines drawn on low pivots.
5 Minute (Higher Time Frame)
• Display (On/Off): Determines whether or not trend lines are drawn from the 5 minute higher time frame.
• High Color: Determines the color of trend lines drawn on high pivots from the 5 minute higher time frame.
• Low Color: Determines the color of trend lines drawn on low pivots from the 5 minute higher time frame.
15 Minute (Higher Time Frame)
• Display (On/Off): Determines whether or not trend lines are drawn from the 15 minute higher time frame.
• High Color: Determines the color of trend lines drawn on high pivots from the 15 minute higher time frame.
• Low Color: Determines the color of trend lines drawn on low pivots from the 15 minute higher time frame.
30 Minute (Higher Time Frame)
• Display (On/Off): Determines whether or not trend lines are drawn from the 30 minute higher time frame.
• High Color: Determines the color of trend lines drawn on high pivots from the 30 minute higher time frame.
• Low Color: Determines the color of trend lines drawn on low pivots from the 30 minute higher time frame.
60 Minute (Higher Time Frame)
• Display (On/Off): Determines whether or not trend lines are drawn from the 60 minute higher time frame.
• High Color: Determines the color of trend lines drawn on high pivots from the 60 minute higher time frame.
• Low Color: Determines the color of trend lines drawn on low pivots from the 60 minute higher time frame.
240 Minute (Higher Time Frame)
• Display (On/Off): Determines whether or not trend lines are drawn from the 240 minute higher time frame.
• High Color: Determines the color of trend lines drawn on high pivots from the 240 minute higher time frame.
• Low Color: Determines the color of trend lines drawn on low pivots from the 240 minute higher time frame.
Daily (Higher Time Frame)
• Display (On/Off): Determines whether or not trend lines are drawn from the daily time frame.
• High Color: Determines the color of trend lines drawn on high pivots from the daily higher time frame.
• Low Color: Determines the color of trend lines drawn on low pivots from the daily higher time frame.
Azmi Moving AveragesThis trading indicator, designed using Pine Script, incorporates two simple moving averages (SMAs) with the same length but different data sources. Here's a detailed description of the indicator:
### Indicator Overview
**Name:** Two Moving Averages
### Inputs
1. **Length (20):** The period over which the moving averages are calculated. Both moving averages use a length of 20 periods.
2. **Source:**
- **High:** The first moving average is calculated using the high prices of the candles.
- **Low:** The second moving average is calculated using the low prices of the candles.
### Calculations
1. **MA High (maHigh):** This is the simple moving average of the high prices over the specified length (20 periods). It smooths the high prices over time, showing the average high price trend.
2. **MA Low (maLow):** This is the simple moving average of the low prices over the same length (20 periods). It smooths the low prices over time, showing the average low price trend.
### Plotting
- **MA High (Blue Line):** This line represents the moving average of the high prices. It is plotted in blue with a line width of 2.
- **MA Low (Red Line):** This line represents the moving average of the low prices. It is plotted in red with a line width of 2.
### Interpretation
1. **Trend Identification:**
- **Bullish Trend:** When the MA High is above the MA Low, it generally indicates a bullish trend, as the average high prices are higher than the average low prices.
- **Bearish Trend:** When the MA High is below the MA Low, it suggests a bearish trend, as the average high prices are lower than the average low prices.
2. **Support and Resistance:**
- The MA High can act as a dynamic resistance level, where the price may face selling pressure.
- The MA Low can act as a dynamic support level, where the price may find buying interest.
3. **Price Channels:**
- The area between the MA High and MA Low creates a channel that can help traders visualize the range within which the price is fluctuating. This channel can be used to identify potential breakout or breakdown points.
### Example Usage
- **Buy Signal:** A potential buy signal may occur when the price crosses above both the MA High and MA Low, indicating a possible upward trend.
- **Sell Signal:** A potential sell signal may occur when the price crosses below both the MA High and MA Low, indicating a possible downward trend.
This indicator provides a visual representation of the average high and low prices, helping traders identify trends, potential support and resistance levels, and price channels for better trading decisions.
Bull Bear Trend IndicatorIntroduction: Origin of the Swing Point Indicator
In the quest for a reliable indicator that accurately predicts trend directions and identifies valid highs and lows, the genesis of the Swing Point Indicator emerged. Faced with the challenge of finding a tool that provided comprehensive market analysis and actionable insights, the need for a novel solution became evident. Combining insights gleaned from market analysis and innovative algorithmic approaches, the Swing Point Indicator was born.
Enhanced Feature: Highs and Lows Labeling in Trend Direction
In addition to its core functionalities, the Swing Point Indicator incorporates an advanced feature that enhances the visualization of trend direction. This feature provides further clarity by selectively labeling highs and lows based on the prevailing trend, reinforcing the identification of higher highs and lower lows in uptrends and downtrends, respectively. Overlapping labels on highs and lows signify a potential trend change, providing traders with valuable insight into market reversals.
Detailed Description:
1. Uptrend Labeling:
- Higher Highs (Green Label with Price): In an uptrend, where higher highs are observed, the indicator labels these points with vibrant green color and includes the corresponding price value. This visually highlights the significance of higher highs as pivotal points in the upward trajectory of prices.
- Higher Lows (Red Marker without Text or Diamond): To complement the identification of higher highs, higher lows are marked with a distinct red marker or diamond, devoid of any accompanying text. While these points are crucial in delineating the ascending trend, their emphasis lies in their role as support levels, providing a foundation for upward price movements.
2. Downtrend Labeling:
- Lower Lows (Red Label with Price): Conversely, in a downtrend characterized by lower lows, the indicator labels these points with conspicuous red color, accompanied by the corresponding price value. Lower lows signify critical levels of downward price momentum, acting as indicators of potential bearish continuation.
- Lower Highs (Green Marker without Text or Diamond): Lower highs, indicative of downward retracements in a downtrend, are marked by distinctive green markers or diamonds without accompanying text. While these points denote temporary pauses or pullbacks in the bearish trend, their emphasis lies in their role as resistance levels, impeding upward price movements.
Functionality and Utility:
- Customizable Lookback Candle Count: Traders have the option to adjust the lookback candle count, which is set by default at 108 candles in the settings. This flexibility allows traders to tailor the indicator to their specific trading preferences and timeframes.
- Equal Highs or Lows Option: When enabled, the Swing Point Indicator can identify equal highs or equal lows, providing traders with additional insight into market dynamics.
- Formation Confirmation: A new higher high along with its higher low or a new lower low along with its lower high is confirmed after two candles have closed following the swing point candle. This ensures the reliability of the identified trend direction.
Conclusion:
The incorporation of selective labeling for highs and lows based on trend direction, alongside the introduction of customizable settings and formation confirmation criteria, enhances the effectiveness of the Swing Point Indicator. This feature-rich tool empowers traders with a nuanced understanding of market dynamics, highlighting critical price levels and trend reversals. By offering enhanced visualization, customizable options, and confirmation criteria, the Swing Point Indicator equips traders with the confidence and precision needed to navigate the markets successfully, contributing to more informed and profitable trading strategies.
ZigZag Library [TradingFinder]🔵 Introduction
The "Zig Zag" indicator is an analytical tool that emerges from pricing changes. Essentially, it connects consecutive high and low points in an oscillatory manner. This method helps decipher price changes and can also be useful in identifying traditional patterns.
By sifting through partial price changes, "Zig Zag" can effectively pinpoint price fluctuations within defined time intervals.
🔵 Key Features
1. Drawing the Zig Zag based on Pivot points :
The algorithm is based on pivots that operate consecutively and alternately (switch between high and low swing). In this way, zigzag lines are connected from a swing high to a swing low and from a swing low to a swing high.
Also, with a very low probability, it is possible to have both low pivots and high pivots in one candle. In these cases, the algorithm tries to make the best decision to make the most suitable choice.
You can control what period these decisions are based on through the "PiPe" parameter.
2.Naming and labeling each pivot based on its position as "Higher High" (HH), "Lower Low" (LL), "Higher Low" (HL), and "Lower High" (LH).
Additionally, classic patterns such as HH, LH, LL, and HL can be recognized. All traders analyzing financial markets using classic patterns and Elliot Waves can benefit from the "zigzag" indicator to facilitate their analysis.
" HH ": When the price is higher than the previous peak (Higher High).
" HL ": When the price is higher than the previous low (Higher Low).
" LH ": When the price is lower than the previous peak (Lower High).
" LL ": When the price is lower than the previous low (Lower Low).
🔵 How to Use
First, you can add the library to your code as shown in the example below.
import TFlab/ZigZagLibrary_TradingFinder/1 as ZZ
Function "ZigZag" Parameters :
🟣 Logical Parameters
1. HIGH : You should place the "high" value here. High is a float variable.
2. LOW : You should place the "low" value here. Low is a float variable.
3. BAR_INDEX : You should place the "bar_index" value here. Bar_index is an integer variable.
4. PiPe : The desired pivot period for plotting Zig Zag is placed in this parameter. For example, if you intend to draw a Zig Zag with a Swing Period of 5, you should input 5.
PiPe is an integer variable.
Important :
Apart from the "PiPe" indicator, which is part of the customization capabilities of this indicator, you can create a multi-time frame mode for the indicator using 3 parameters "High", "Low" and "BAR_INDEX". In this way, instead of the data of the current time frame, use the data of other time frames.
Note that it is better to use the current time frame data, because using the multi-time frame mode is associated with challenges that may cause bugs in your code.
🟣 Setting Parameters
5. SHOW_LINE : It's a boolean variable. When true, the Zig Zag line is displayed, and when false, the Zig Zag line display is disabled.
6. STYLE_LINE : In this variable, you can determine the style of the Zig Zag line. You can input one of the 3 options: line.style_solid, line.style_dotted, line.style_dashed. STYLE_LINE is a constant string variable.
7. COLOR_LINE : This variable takes the input of the line color.
8. WIDTH_LINE : The input for this variable is a number from 1 to 3, which is used to adjust the thickness of the line that draws the Zig Zag. WIDTH_LINE is an integer variable.
9. SHOW_LABEL : It's a boolean variable. When true, labels are displayed, and when false, label display is disabled.
10. COLOR_LABEL : The color of the labels is set in this variable.
11. SIZE_LABEL : The size of the labels is set in this variable. You should input one of the following options: size.auto, size.tiny, size.small, size.normal, size.large, size.huge.
12. Show_Support : It's a boolean variable that, when true, plots the last support line, and when false, disables its plotting.
13. Show_Resistance : It's a boolean variable that, when true, plots the last resistance line, and when false, disables its plotting.
Suggestion :
You can use the following code snippet to import Zig Zag into your code for time efficiency.
//import Library
import TFlab/ZigZagLibrary_TradingFinder/1 as ZZ
// Input and Setting
// Zig Zag Line
ShZ = input.bool(true , 'Show Zig Zag Line', group = 'Zig Zag') //Show Zig Zag
PPZ = input.int(5 ,'Pivot Period Zig Zag Line' , group = 'Zig Zag') //Pivot Period Zig Zag
ZLS = input.string(line.style_dashed , 'Zig Zag Line Style' , options = , group = 'Zig Zag' )
//Zig Zag Line Style
ZLC = input.color(color.rgb(0, 0, 0) , 'Zig Zag Line Color' , group = 'Zig Zag') //Zig Zag Line Color
ZLW = input.int(1 , 'Zig Zag Line Width' , group = 'Zig Zag')//Zig Zag Line Width
// Label
ShL = input.bool(true , 'Label', group = 'Label') //Show Label
LC = input.color(color.rgb(0, 0, 0) , 'Label Color' , group = 'Label')//Label Color
LS = input.string(size.tiny , 'Label size' , options = , group = 'Label' )//Label size
Show_Support= input.bool(false, 'Show Last Support',
tooltip = 'Last Support' , group = 'Support and Resistance')
Show_Resistance = input.bool(false, 'Show Last Resistance',
tooltip = 'Last Resistance' , group = 'Support and Resistance')
//Call Function
ZZ.ZigZag(high ,low ,bar_index ,PPZ , ShZ ,ZLS , ZLC, ZLW ,ShL , LC , LS , Show_Support , Show_Resistance )
Key Levels | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Key Levels indicator! This indicator allows you to see the key levels on the current chart such as previous day lows / highs, pre-market data, yesterday's close, today's open, pivot points, and much more! It's highly user-friendly with every line being individually customizable and having a wide range of text options.
Features of the new Key Levels indicator :
Today & Yesterday High, Low, Open & Close
Previous 3-10th Day Highs & Lows
Pre-Market Highs & Lows
Previous Month High & Low
High & Low Pivots
Combination Of Same Levels
Wide Customization Options
📌 HOW DOES IT WORK ?
Key levels are important areas in a chart where a significant reaction is expected. In this indicator, you can enable up to the previous 10 days highs and lows, yesterday's close / today's open, and the latest pivot points. Key levels generally act like support & resistance. Here are a few examples :
As shown, key levels play an important role determining the current trend and can be useful in identifying potential levels where the market will reverse or breakout.
🚩UNIQUENESS
1. More Key Levels
We believe that past key levels may be as important as current ones. Some of the key-levels indicators do not include them even though strong reactions can happen around them. Thus, our indicator let's you check up to 10 days backwards.
You can select the ones you think that are the most important and just enable them, making the indicator customizable to your liking.
2. Pre-Market Data
With assets that have pre-market data available, it's crucial to analyze it to have a better understanding of the market in regular trading hours. Our indicator will plot pre-market highs and lows, even if your chart is in the regular trading hours only mode. We believe this will be helpful with your analyzing process.
3. Combination
The indicator can dynamically combine same key levels, so you can have a clear look to the chart without lines & text colliding with each other. This would also help you determine stronger key levels as if a key level occured more than a time, it could be a sign that it's a stronger one. An example :
To summarize, using key levels is an essential skill while detecting zones where strong reactions are expected. This indicator provides up to 10 day's high and low levels, and all of them can be individually turned on / off. Traders that believe older key levels can be important and want to look at the whole picture may use this feature. Also for assets that have pre-market data available, the indicator provides pre-market levels as well. Besides all that, High & Low pivots will provide latest key levels so traders can use them in their decisions.
⚙️SETTINGS
1. General Configuration
You can enable / disable :
1. Today's High / Low / Open
2. Yesterday's High / Low / Close
3. 3th-10th Day High / Low
4. Pre-Market High / Low
5. Previous Month High / Low
You can also change the colors and switch their line styles between solid, dashed and dotted.
2. High & Low Pivots
Enabled -> Enable / Disable High & Low Pivots
Pivot Range -> The range used in the detection of pivot points. Larger values will result in less pivot points, while smaller values will provide more pivot points. This essentially determines how many bars to the right & left shouldn't exceed the pivot's high or low.
You can also change the text color and text size of the pivots from the settings.
3. Style settings
Text Offset -> How many bars of offset should the texts have to the right. Increase if text collides with bars while Align Labels option is set to "Right".
Extend Lines -> If enabled, lines will be extended infinitely to right & left. If disabled, all lines will be clamped in their timelines.
Show Line Values -> If enabled, line information text will contain their price.
Align Labels ->
Right = Align line labels to right.
Center = Line labels will always be at the center of the screen.
PinBar and Bloom Pattern Concept (Zeiierman)█ Overview
The Precision PinBar and Bloom Pattern Concept by Zeiierman introduces two new patterns, which we call the Bloom Pattern and the Precision PinBar Pattern. These patterns are used in conjunction with market open, high, and low values from different periods and timeframes. Together, they form the basis of the "PinBar and Bloom Pattern Concept." The main idea is to identify key bullish and bearish candlestick patterns around key levels plotted on the chart.
The key levels are the Open, High, and Low from the current and previous periods of the selected timeframe. Users can choose how many previous periods to be drawn on the chart.
█ How It Works
The indicator operates by analyzing market data over selected timeframes. It uses inputs such as previous period open-high-low lines, timeframe selections, and pattern detection settings like Symmetry Precision and Range Threshold. These parameters allow the indicator to identify specific market conditions, including symmetrical movements in price and significant price range deviations, which form the basis of the Bloom and Precision PinBar patterns.
Symmetry Signal:
Purpose: To detect symmetry in price movements based on a precision threshold.
How It Works: This function calculates the symmetry of high and low prices within the specified precision. It returns two boolean values indicating whether the high and low prices are within the symmetry precision.
BaselineBound Pattern:
Purpose: To identify bullish or bearish patterns based on a range factor.
How It Works: The function calculates whether the current close price is within a certain range of the high-low difference of the previous period. It returns bullish and bearish signals based on these calculations.
█ ● Bloom Pattern
The Bloom Pattern is a unique candlestick pattern designed to identify significant trend reversals or continuations. It's not a single candlestick formation but a combination of a few elements that signal a potential strong move in the market.
⚪ Previous and Current Candle Analysis: The Bloom Pattern looks at the relationship between the current candle and the previous one. It checks whether the current candle's body (the range between its opening and closing prices) fully encompasses the body of the previous candle. This condition is known as "embodying."
⚪ Baseline Bound: The Baseline Bound concept involves comparing the closing price to a range established by the high and low of the previous candle, adjusted by a factor (the rangeFactor). This helps in identifying if the current price is showing a bullish or bearish tendency relative to the previous period's price movement.
⚪ Symmetry Signal: Additionally, it uses the Symmetry Signal, which measures the symmetry between the high and low prices of two consecutive candles.
⚪ Bullish and Bearish Signals: The combination of these conditions (embodying, baseline bound, and symmetry) results in either a bullish or bearish signal. A bullish signal suggests a potential upward trend, while a bearish signal indicates a possible downward trend.
█ ● Precision PinBar Pattern
The Precision PinBar Pattern is a refined version of the traditional Pin Bar, a well-known candlestick pattern used in trading. This pattern focuses on identifying market reversals with a high degree of accuracy.
⚪ Identification of Pin Bars: The function first identifies a pin bar, characterized by a small body and a long wick. The long wick indicates a rejection of certain price levels, and the small body shows little change between the opening and closing prices.
⚪ Tail and Body Length Analysis: The script calculates the length of the bar's tail (wick) and compares it to the length of the body. A qualifying pin bar typically has a tail at least three times longer than its body, suggesting a strong rejection of prices.
⚪ Positioning and Thresholds:
Open-Close Position: The function checks whether the opening and closing prices are within a certain threshold of the high or low of the bar, which helps in distinguishing between bullish and bearish pin bars.
⚪ Baseline Bound and Symmetry: Like the Bloom Pattern, it incorporates Baseline Bound and Symmetry Signal concepts to validate the significance of the pin bar.
⚪ Bullish and Bearish Signals: Depending on these factors, a bullish or bearish pin bar is identified. A bullish PinBar suggests potential upward price movement, while a bearish PinBar indicates possible downward price movement.
█ How to Use
Using the Bloom and Precision PinBar patterns in conjunction with key market levels, such as previous highs and lows, can be a powerful strategy for traders. These market levels often act as significant points of support and resistance, and combining them with the patterns can offer strong trade signals. Here's how traders can effectively utilize these patterns:
Identifying Key Market Levels
Previous Highs and Lows: These are the highest and lowest points reached in previous trading periods and are often considered strong levels of resistance (in the case of previous highs) and support (in the case of previous lows).
Using the Bloom Pattern
Near Previous Highs (Resistance): If a Bloom Pattern emerges near a previous high, it could indicate a potential bearish reversal. Traders might interpret this as a signal to consider short positions, especially if the pattern shows bearish characteristics.
Near Previous Lows (Support): Conversely, a bullish Bloom Pattern near a previous low could suggest a trend reversal to the upside. This could be a signal for traders to consider long positions.
Using the Precision PinBar Pattern
Precision PinBar at Resistance: A bearish Precision PinBar appearing near a previous high can be a strong signal for a potential downward move. This setup is often used by traders to enter short positions, anticipating a price rejection at this resistance level.
Precision PinBar at Support: Similarly, a bullish Precision PinBar at or near a previous low suggests that the market is rejecting lower prices, indicating potential upward momentum. This is typically used by traders as a cue to go long.
█ Settings
Previous Open-High-Low Lines: Determine the number of historical periods to analyze. Settings include toggling the visibility of lines and labels and specifying the number of periods.
Timeframe & Current Period: Select the timeframe for current market analysis. Options include different timeframes (e.g., 1H, 1D) and customization of line styles and colors.
Pattern Settings: Adjust the Symmetry Precision and Range Threshold to fine-tune the indicator's sensitivity to specific market movements.
Bloom & Precision PinBar Pattern: Enable or disable the detection of specific patterns and customize the visual representation of these patterns on the chart.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Price-Action Candles (Lower)What is a swing high or swing low?
Swing highs and lows are price extremes. For example say we set our swing length to 5. A candle that is a swing high with a swing length of 5 will have 5 bars to the left that are lower and 5 bars to the right that are lower. A candle that is a swing low with a swing length of 5 will have 5 bars to the left that are higher and 5 bars to the right that are higher.
How is the trend coloring calculated?
The trend coloring is calculated the exact same way as our trend candles study... by storing and comparing historical swing lows and swing highs.
The pinescript code goes as follows:
The pinescript code goes as follows:
var int trend = na
trend := ((hh and high >= psh) or close > csh) ? 1 : ((ll and low <= psl) or close < csl) ? -1 : lh or hl ? 0 : trend
What does that gibberish mean?
-Trend can be GREEN IF
- We have a higher high (current swing high is greater than the previous swing high) and the high is greater than the previous swing high
- OR The current close is greater than the current swing high
-Trend can be RED IF
- We have a lower low (current swing low is less than the previous swing low) and the low is less than the previous swing low
- OR The current close is less than the current swing low
-Trend can be YELLOW IF
- We have a new swing high and the new swing high is less than the previous swing high
- OR We have a new swing low and the new swing low is greater than the previous swing low
If none of the conditions above are true then we continue with whatever color the previous bar was.
What is repainting?
Repainting is "script behavior causing historical vs realtime calculations or plots to behave differently." That definition comes directly from Tradingview. If you want to read the full explanation you can visit it here www.tradingview.com . The price-action candles use swing highs and swing lows which need bars to the left (past) and bars to the right ("future") in order to confirm the swing level. Because of the need to wait for confirmation for swing levels the plot style can be repainting. The Price-Action Candles (Lower) indicator, or this indicator, has no repainting anywhere. We opt to not shift back the candle coloring which causes the repainting, but it is relevant to discuss since this indicator's sibling (Price-Action Candles) can have repainting labels.
Repaint
Here the labels are shifted back the price-action length. Repainting is not present in the Price-Candles (Lower) study, but can be found in this indicator's sibling (Price-Action Candles).
Non-Repaint
Here the labels are not shifted back or "repainted". Repainting is not present in the Price-Candles (Lower) study, but can be found in this indicator's sibling (Price-Action Candles).
Multi-timeframe Analysis
The users can view multi-timeframe historical price action trend via this lower study. Each timeframe is plotted as its own on the lower pane and you can determine what timeframe it is by the label next to the plot.
More examples
Pair the Price-Action Candles (Lower) indicator with our main price indicator that colors candles based on trend and can show price action labels.
Price-Action CandlesWhat is a swing high or swing low?
Swing highs and lows are price extremes. For example say we set our swing length to 5. A candle that is a swing high with a swing length of 5 will have 5 bars to the left that are lower and 5 bars to the right that are lower. A candle that is a swing low with a swing length of 5 will have 5 bars to the left that are higher and 5 bars to the right that are higher.
How are the trend candles calculated?
The trend candles are calculated by storing and comparing historical swing lows and swing highs.
The pinescript code goes as follows:
The pinescript code goes as follows:
var int trend = na
trend := ((hh and high >= psh) or close > csh) ? 1 : ((ll and low <= psl) or close < csl) ? -1 : lh or hl ? 0 : trend
What does that gibberish mean?
-Candle can be GREEN IF
- We have a higher high (current swing high is greater than the previous swing high) and the high is greater than the previous swing high
- OR The current close is greater than the current swing high
-Candle can be RED IF
- We have a lower low (current swing low is less than the previous swing low) and the low is less than the previous swing low
- OR The current close is less than the current swing low
-Candle can be YELLOW IF
- We have a new swing high and the new swing high is less than the previous swing high
- OR We have a new swing low and the new swing low is greater than the previous swing low
If none of the conditions above are true then we continue with whatever color the previous bar was.
What is repainting?
Repainting is "script behavior causing historical vs realtime calculations or plots to behave differently." That definition comes directly from Tradingview. If you want to read the full explanation you can visit it here www.tradingview.com . The price-action candles use swing highs and swing lows which need bars to the left (past) and bars to the right ("future") in order to confirm the swing level. Because of the need to wait for confirmation to for swing levels the plot style can be repainting. With the price-action candles indicator the only repainting part of the indicator is the labels. The price-action candles themselves WILL NOT REPAINT. The labels however can be set to repaint or not depending on the user preference. If the user opts to use repainting then the label location is shifted back by the length of the price-action. So if the "Price-Action Length" input is set to 10, and the user wants repainting, the swing high/low label will be shifted back 10 bars. If the user opts for no repainting, the label will not be shifted and instead show on the exact bar the swing level was confirmed.
Examples Below.
Repaint
Here the labels are shifted back the price-action length.
Non-Repaint
Here the labels are not shifted back because the input setting is set to not repaint.
Multi-timeframe Analysis
The users can view the trend from multiple different timeframes at once with a table displayed at the bottom of their charts. The timeframe can be lower or higher than the chart timeframe.
More examples
Be on the lookout for the Price Action Candles (Lower) indicator where you can view the multi-timeframe labels on a lower price grid in order to see the history over time!
Brake Of Structure (BOS) By GadatasThis indicator is designed to identify and track swing highs and lows in a given market on any timeframe. It plots these swing highs and lows as solid lines on the chart. The indicator allows for customization of the line color and width and using another timeframe.
The indicator follows specific rules to determine when a new high or low is created. If the current range is considered bullish (meaning the most recent breakout was to the topside), the indicator will only update the low if a candle's body falls below the current low. However, if the current range is bearish (most recent breakout to the downside), the indicator will only update the high if a candle's body rises above the current high.
When a range is identified as bullish, the indicator will continue updating the high until a swing high is formed, denoting the high of the range. The high will only change if a candle's body surpasses the previous high. The low, on the other hand, will be updated based on the last time a candle's body falls below a previous candle's low. The lowest low after this condition is met will be assigned as the low of the range.
Conversely, when a range is identified as bearish, the indicator will continue updating the low until a swing low is formed, denoting the low of the range. The low will only change if a candle's body falls below the previous low. The high, in this case, will be updated based on the last time a candle's body rises above a previous candle's high. The highest high after this condition is met will be assigned as the high of the range.
Swing highs are determined by having lower highs to the left and right, while swing lows have higher lows to the left and right. These swings are used to determine the final high or low of a bullish or bearish range, respectively.
Tis Indicator differs from other indicators by incorporating this concept to track market structure. The indicator assumes that significant market players sell before making heavy purchases in bullish ranges and buy before selling heavily in bearish ranges. The lines on the chart represent prior highs and lows, as well as the current updated highs and lows based on this theory. By using this indicator, one can gain insights into the structure of price movement and potentially identify bullish or bearish continuations. It can also provide confluence when analyzing multiple timeframes to validate trend-following strategies.
