Scripts Search Results for "master pattern"

FOREX MASTER PATTERN Companion Tool What This Indicator Does The Forex Master Pattern uses candlesticks, which provide more information than line, OHLC or area charts. For this reason, candlestick patterns are a useful tool for gauging price movements on all time frames. While there are many candlestick patterns, there is one which is particularly useful... The Engulfing Pattern An engulfing pattern provides an excellent trading opportunity because it can be easily spotted and the price action indicates a strong and immediate change in direction. In a downtrend, an up candle real body will completely engulf the prior down candle real body (bullish engulfing). In an uptrend a down candle real body will completely engulf the prior up candle real body (bearish engulfing). Used in conjunction with the FOREX Master Pattern value line, the Engulfing Pattern can assist the trader with reversal timing or trend confirmation during the expansion and trend phases. As shown in the screenshot below. Engulfing Candles usually precede a sharp move in price in the direction of the engulfing candle. As shown in the screenshot below, when the Show Lines option is ON while using the indicator, both red and green lines are drawn on the chart automatically when engulfing candles form. These lines are projected forward 100 bars and tend to be reliable support and resistance areas. These areas are typically hidden from view. In addition to the Show Lines option, the indicator (by default) creates boxes around trading zones that are created when an engulfing candle is formed. (There is an option to hide these from view if desired). As seen in the screenshot below, these areas / zones are wider than a line and encompass a resistance / support zone rather than a specific price. Liquidity is usually high in these areas and a lot of selling / buying occurs here. These zones are drawn in advance out into the future giving the trader an idea of where price will revert to eventually. A combination of LINES and AREAS can be used giving the user a better idea of where within the zone price will go. As seen on the screenshot below, this combination provides a pretty accurate indication of the reversal point well in advance. As seen in the screenshot below, when a ZONE / AREA has been fully breached (crossed) by price, the area is deactivated an no longer continues forward on the chart. Until price breaches an area, it remains valid and continues on the chart until and only if it is breached by price. The Indicator is fully customizable. The use can change the color of the engulfing candles, the color of the zones, transparency etc. You can turn OFF or ON any of the features such as lines, zones, bar coloring, and plotted arrows. I really hope you get value from this indicator and... HAPPY TRADING!!

Master Pattern [LuxAlgo]The Master Pattern indicator is derived from the framework proposed by Wyckoff and automatically displays major/minor patterns and their associated expansion lines on the chart. Liquidity levels are also included and can be used as targets/stops. Note that the Liquidity levels are plotted retrospectively as they are based on pivots. 🔶 USAGE The Master Pattern indicator detects contraction phases in the markets (characterized by a lower high and higher low). The resulting average from the latest swing high/low is used as expansion line. Price breaking the contraction range upwards highlights a bullish master pattern, while a break downward highlights a bearish master pattern. During the expansion phase price can tend to be stationary around the expansion level. This phase is then often followed by the price significantly deviating from the expansion line, highlighting a markup phase. Expansion lines can also be used as support/resistance levels. 🔹 Major/Minor Patterns The script can classify patterns as major or minor patterns. Major patterns occur when price breaks both the upper and lower extremity of a contraction range, with their contraction area highlighted with a border, while minor patterns have only a single extremity broken. 🔶 SETTINGS Contraction Detection Lookback: Lookback used to detect the swing points used to detect the contraction range. Liquidity Levels: Lookback for the swing points detection used as liquidity levels. Higher values return longer term liquidity levels. Show Major Pattern: Display major patterns. Show Minor Pattern: Display minor patterns.

FOREX MASTER PATTERN Value Lines by nnam The Forex Master Pattern is form of technical analysis that provides a framework for spotting hidden price patterns that reveal the true movement of the market. The Forex Master Pattern Value Lines Indicator helps to identify this Phase 1 contraction of the Forex Master Pattern cycle. HOW THIS INDICATOR WORKS This indicator looks for a sustained contraction in price initially indicated by TWO contraction bars in a row, thus detecting a contraction point and a potential new master pattern origin point. Once a contraction point is detected, a blue box will appear on the chart with a thick solid blue line projecting from its center. These are potential "Points of Origin" and "Value Lines" that institutional traders use to balance their books. As shown above, when price begins to move (detected by engulfing and/or expansion candles), an Arrow is plotted to the chart identifying a possible expansion. As shown above, previous Value Lines typically serve as future support / resistance points, however, due to the unique location of these lines, they are not typically identified as support or resistance levels on standard S/R indicators. Color Coded Candles assist the user in quickly identifying contraction and expansion areas as well as trends away from the value-line. The expansion candles, Up/Down candles, and contraction BARS are all inspired by the STRAT (Rob Smith) and are specifically incorporated into this indicator to assist the user in finding potential reversals during the expansion phase. This helps to avoid the whiplash typically associated with the first phase of Forex Master Pattern. USER DEFINED SETTINGS - Line Settings Section - #Max Lines to Show This limits or extends the total number of lines shown on the chart. The Default is 12 (minimum is 1, maximum is 499). #Show Lines on Chart This setting turns all lines ON or OFF on the chart #Show Value-Lines on Chart This setting turns the Value Lines ON or OFF on the chart #Set Value-Line Width This setting sets the width of the value-line displayed on the chart #Only show last value-line on the chart This setting removes all but the most recent value-line from the chart - Box Settings Section - #Show Last Box Only This setting turns OFF all previous boxes and only shows the most recent contraction box on the chart - Expansion Area Settings Section - #Show Expansion Area This setting turns ON or OFF the expansion area fill #Show Expansion Guidelines on Chart This setting turns ON or OFF the guidelines that show the current direction of the price via an extended line. - Candle Colors Section - #Color Code the Candles This setting turns on Color Coding for the Candles which changes the colors of each candle type: 1. Contraction Candle 2. Expansion Candle 3. Up Candle 4. Down Candle 5. Engulfing Candles (engulfing candles override other candle settings if turned ON) - Engulfing Patterns Section - #Show Engulfing Patterns This setting turns ON or OFF engulfing candle plots globally #Show Bullish Engulfing Candles This setting allows the user to turn Bullish Engulfing signals ON or OFF #Show Bearish Engulfing Candles This setting allows the user to turn Bearish Engulfing signals ON or OFF I hope you enjoy this indicator and that it provides some value. Please reach out to me with any suggestions or need training on the indicator.

Liquidity Breakout - Strategy [presentTrading]- Introduction and How It Is Different The Liquidity Breakout Strategy is a unique trading strategy that focuses on identifying and leveraging patterns in market price data. This strategy, mainly inspired by the script "Master Pattern" by LuxAlgo, takes a different approach from many traditional strategies that rely on technical indicators or fundamental analysis. Instead, the Liquidity Breakout is based on the concept of contraction detection and liquidity levels. This approach allows traders to identify potential trading opportunities that other strategies might miss. BTCUSDT 6h The strategy is different from other trading strategies because it uses a unique combination of pattern detection, liquidity levels, and user-defined trading direction. This combination allows the strategy to adapt to various market conditions and trading styles, making it a versatile tool for traders. - Strategy: How It Works 1. Contraction Detection: The strategy uses a lookback period defined by the user (default is 10 bars) to identify contractions in the market. A contraction is a period where the market is consolidating, often followed by a significant price movement. The strategy identifies contractions by finding pivot highs and pivot lows within the lookback period. If a pivot high is lower than the previous pivot high and a pivot low is higher than the previous pivot low, a contraction is detected. 2. liquidity Levels: What are Liquidity levels? Liquidity levels, also known as liquidity pools or zones, are price levels at which there is a significant amount of trading activity. They are often areas where large institutional traders (like banks or hedge funds) have placed orders. These levels are important because they can act as support or resistance levels, and price often reacts at these levels. In the context of this strategy, liquidity levels are used to identify potential entry and exit points for trades. When the price reaches a liquidity level, it could indicate a potential trading opportunity. For example, if the price breaks through a liquidity level, it could signal the start of a new trend. On the other hand, if the price approaches a liquidity level and then reverses, it could signal a potential reversal. The strategy uses these two elements to identify potential trading opportunities. When a contraction is detected, the strategy will look for a breakout in the direction of the trend. If the breakout occurs at a liquidity level, the strategy will execute a trade. The strategy also allows traders to set their stop loss based on either the Average True Range (ATR) or a fixed percentage. This flexibility allows traders to manage their risk according to their personal risk tolerance and trading style. - Trade Direction One of the unique features of the Master Pattern Strategy is the ability to choose the trading direction. Traders can choose to trade in the "Long" direction, the "Short" direction, or "Both". This feature allows traders to adapt the strategy to their personal trading style and market outlook. For example, if a trader believes that the market is in an uptrend, they can choose to trade only in the "Long" direction. Conversely, if the market is in a downtrend, they can choose to trade only in the "Short" direction. If the trader believes that the market is volatile and there are opportunities in both directions, they can choose to trade in "Both" directions. - Usage To use the strategy, traders need to input their preferred settings, including the contraction detection lookback period, liquidity levels, stop loss type, and trading direction. Once these settings are input, the strategy will automatically detect potential trading opportunities and execute trades according to the defined parameters. - Default Settings The default settings for the Master Pattern Strategy are as follows: Contraction Detection Lookback: 10 Liquidity Levels: 20 Stop Loss Type: ATR ATR Length: 20 ATR Multiplier: 3.0 Fixed Percentage: 0.01 Trading Direction: Both These settings can be adjusted according to the trader's personal preferences and market conditions. It's recommended that traders experiment with different settings to find the ones that work best for their trading style and goals.

Expansion Finder by nnam What this Indicator Does This indicator helps the trader locate expansion and contraction areas in an easy visual way. When the asset moves from a contraction phase into an expansion phase, the bars change color (customizable). This allows the trader to recognize areas of contraction and avoid trading them. Once a Bar Range moves outside of the average range as specified by the user, the bar will change color informing the trader that the current bar and by default the market, is moving into an expansion phase from a contraction phase. The indicator works well for those traders that use the Forex Master Pattern to locate Value Lines and Value Areas on the chart giving them an opportunity to draw in these areas with ease. As shown in the screenshot below, the boxes are manually drawn after the trader locates an easily identifiable area of contraction. The Indicator makes it easy to find longer areas of contraction and ignore the noise of smaller contractions. Customizable Settings allow the trader to define the lookback range that determines the number of bars to base the average. A "multiplier" setting allows the trader to easily adjust the Average by changing the average using a simple calculation. Example, if the average multiplier is set to "1", the average will be used. Using the standard average is not always the best way to define these contractions, so traders can set the average to a higher or lower number by using the multiplier, thus changing the calculation but maintaining a consistent number across the chart. Example: If the average is not plotting the contraction correctly, the trader can manually adjust the multiplier down to 0.5 thus adjusting the average in half or increase the multiplier to 2 thus doubling the average. As seen in the screenshot below, this changes the number of expansion bars visible on the chart. Below you can see Value Areas and Value Lines drawn in. These lines assist the trader in defining important levels for future trading. I hope this Indicator helps you locate value areas and value lines on charts in an easy way. Any questions or concerns or suggestions, please do not hesitate to reach out. Happy Trading !!!!

GRIDBOT Scalper by nnam What is this Indicator used for? Made specifically for GRID Bots note: before continuing... this indicator works on any timeframe, but it WORKS BEST ON THE 15 MINUTE TIMEFRAME Straters and Forex Master Pattern Value Line Traders use this to help determine when the price could reverse. This indicator is a scalping indicator that produces signals when a "potential" reversal in price is indicated. When the price moves UP and a Potential Bearish Reversal Signal occurs, traders can use this signal as a potential SHORT entry signal for their Short Grid Bot. The process is the same in reverse. After a sustained move down, a Potential Bullish Signal can be used by the trader as a potential LONG entry signal for their GridBot. As shown in the screenshot below, lines develop on the chart (either RED or GREEN) indicating that a sustained move in one direction is currently occurring; however, there is no potential reversal signal plotted (this means that price action is currently moving in one direction only). As shown in the screenshot below, lines can be used as a stop-loss after entering the GRIDbot. (usually, by this time, the Grid Bot is in Profit as it usually moves in the opposite direction first) What this Indicator Does The GRIDBOT Scalper provides information regarding potential reversals in the market after a sustained movement in one direction (either Bullish or Bearish). The indicator is based on PRICE-ACTION ONLY and does not take into account the current state of the market (Bullish or Bearish). Once the price moves in a particular direction for at least 14 bars , a line appears as shown in a previous screenshot. Once the price stops moving in that direction and begins moving in the opposite direction - and after a sustained run - a "signal" appears alerting the trader that a "potential" reversal could be on the horizon soon. If price moves in one direction and plots both a line and a signal and then begins moving back in the other direction in a sustained manner, the original signal will remain even when a NEW line begins forming (the original line will disappear). (see below) This line will continue to move as the price continues to move. Not until a signal plots on the chart is the potential reversal forming. THE LINE DOES NOT SIGNAL A REVERSAL . Some traders, however, use this information to "ride the wave UP or DOWN" and exit their positions once the signal prints. As shown below, optional input settings allow the trader to set the line at CLOSE or HIGH/LOW of the candle preceding the potential reversal. It is suggested to use Close instead of High or Low but the setting allows one to use either. As shown in the screenshot below, it is typical on LOWER TIME FRAMES to see the price pass the signal line. The Indicator works best on the 15 minute timeframe, as it gives the trader time to make the decisions required as the volatility is less on the 15 minute chart vs the 1 minute or 5 minute charts. If you have any questions or suggestions for this indicator, please join our Discord. We offer free training on this Indicator on our Discord Server.

Strategy Execution Template - Master Pattern This script is a template to execute your strategy with Stop Loss and Take Profit and showing Trades. Then, you can write your strategy without taking care of Stop Loss and Take Profit method. 3x Fixed Percent Stop Loss, Trailing Percent Stop Loss, Trailing ATR Stop Loss, Tailing HHLL Stop Loss 3x Fixed Percent, Take Profit