Sash Trending Suite NEWWhy
The " Sash Trending Suite " (STS) indicator simplifies trading by highlighting market trends and potential reversals. In a world of complex charts and overwhelming data, STS helps traders quickly understand market direction and make informed decisions.
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How and What
STS combines key technical tools into one easy-to-read indicator, directly showing important signals on the chart:
Macro Trend Detection
How : Uses two EMAs (fast and slow) and the ADX to identify strong bullish or bearish trends.
What to Look For :
Bar Colors :
Green Bars : Indicate a strong upward (bullish) trend.
Red Bars : Indicate a strong downward (bearish) trend.
Benefit : Quickly see the overall market direction.
Alpha Track Line
How : An adaptive EMA that acts as a dynamic support or resistance line.
What to Look For :
Line Colors :
Green Line : Price is above the line (bullish momentum).
Red Line : Price is below the line (bearish momentum).
Benefit : Visualize momentum shifts easily.
Reversal Signals
How : Combines RSI with price action to spot potential market reversals.
What to Look For :
"R" Labels :
Turquoise "R" Below Bar : Potential bullish reversal.
Amber "R" Above Bar : Potential bearish reversal.
Benefit : Identify possible turning points for entry or exit.
Micro Trend Detection
How : Uses shorter EMAs to catch minor trend changes.
What to Look For :
Small Circles :
Green Circle Below Bar : Micro bullish signal.
Red Circle Above Bar : Micro bearish signal.
Benefit : Spot short-term trend shifts promptly.
Alerts
How : Built-in alerts notify you of key events.
What to Expect :
Trend Changes : Alerts when a new bullish or bearish trend starts.
Reversals : Alerts for potential bullish or bearish reversals.
Benefit : Stay updated without constantly watching the chart.
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Summary
The "Sash Trending Suite" provides:
Simplified Analysis : One indicator shows trend direction, momentum, reversals, and micro trends.
Clear Visuals : Color-coded bars and symbols make interpretation easy.
Timely Alerts : Know about important market changes instantly.
By focusing on essential signals and displaying them clearly, STS helps traders navigate the market with confidence and simplicity.
Candlestick analysis
Stocks & Options P/L TrackerOverview:
The Stocks & Options P/L Tracker is a custom TradingView indicator developed to offer traders precise tracking of stocks & options trades’ profit and loss in real-time. It features a detailed display of P/L intervals, stop-loss and take-profit levels, and an adaptable trailing stop mechanism to help traders manage risk and optimize their trading strategies. This tool is particularly useful for active traders who seek immediate visual feedback on their trades’ performance.
Key Features:
Real-Time P/L Display: Computes and displays the P/L per contract/share and total P/L dynamically on the chart based on the specified entry price, relative to the current market price, and number of contracts or shares.
Configurable Take Profit and Stop Loss: Users can set take-profit and stop-loss amounts, and the indicator will visually mark these levels with corresponding dollar amounts for easy reference.
Trailing Stop Functionality: Offers an option to enable a trailing stop that automatically adjusts based on price movements.
Interval-Based P/L Tracking: Uses customizable intervals to display projected P/L levels above and below the entry price, helping users understand potential profit or loss scenarios at a glance.
Dynamic Labeling and Alerts: Visual labels are used to mark P/L, take-profit, stop-loss, trailing stop, and entry levels. These labels update dynamically on each new price bar to provide immediate insights into trade performance. NOTE: Due to TradingView's limitations with server-side alerts on fixed prices, dynamic alerts (for Take Profit, Stop Loss, and Trailing Stop) that adjust with price changes are not yet available. Alerts must be manually reset to your desired price each time.
Clean and Responsive Design: Utilizes color-coded labels and lines for P/L intervals, making it easy to distinguish profit, loss, stop, and take-profit zones. Colors adjust automatically to the current price to maintain clarity.
User Input Validation: Ensures appropriate input values for items like entry price, contract/share size, and profit/loss intervals to prevent errors and optimize performance.
Efficient Object Management: Implements object reusability for lines and labels to stay within Pine Script's object limits, ensuring smooth operation and maximum accuracy in real-time tracking.
Automatic Adjustments Based on Market Changes: Calculates and adjusts trailing stop levels dynamically based on highest price movement, which provides traders flexibility while maintaining risk controls.
Trader Benefits:
This indicator empowers traders with a robust tool to manage their trades visually and strategically on TradingView. The real-time feedback and customization options help traders make informed decisions, minimize risks, and maximize potential profits.
Happy Trading! :)
FVG - Fair Value Gap Detector with Large Movement FilterScript Description: Fair Value Gap (FVG) Detector with Large Movement Filter
This indicator is designed to identify Fair Value Gaps (FVG), which are price imbalances observed between three consecutive candles. Fair Value Gap detection is commonly used by traders to locate areas of imbalance where demand and supply temporarily lose equilibrium. This imbalance often draws price back to these zones, making them potential points of interest for buy or sell opportunities.
Key Features of the Indicator
FVG Detection Based on Three Consecutive Candles:
The script identifies a Fair Value Gap between three consecutive candles. This gap appears when the high of the first candle is below the low of the third candle (or vice versa). These gap zones are significant as they indicate an imbalance in price between buyers and sellers, with the expectation that price may revisit these areas in the future.
Large Movement Filter Using ATR:
To improve accuracy and avoid false signals in minor price fluctuations, this indicator includes a large movement filter based on the Average True Range (ATR). The ATR is calculated over a configurable period, and a multiplier is applied to set the minimum required range for a large movement. This helps ensure that only gaps in areas with significant price movement are identified.
Visual Differentiation with Customizable Colors:
The script allows users to configure FVG box colors for easy gap visualization. Identified zones on the chart are highlighted with a colored box, making it easy for the trader to identify imbalance points and observe potential mitigation.
FVG Mitigation and Capture:
The indicator continuously checks if the price is within the FVG zone, indicating that the gap has been mitigated or “captured” by the price. The mitigation or capture status is displayed visually on the chart, using a color scheme to indicate whether the gap has been retested by price after its creation.
How to Use the Indicator
Configuring Parameters:
ATR Multiplier: Defines how large a movement relative to ATR is required for the gap to be considered significant. Higher values require larger movements.
ATR Period: Sets the number of candles used in the ATR calculation, affecting the sensitivity to large movements.
Customizable Colors: Traders can adjust the FVG box colors and labels indicating mitigation and capture of the imbalance zones.
Visual Interpretation:
FVG Boxes: Colored boxes will appear on the chart to highlight gap zones. These boxes only display following the detection of a large movement, as defined by ATR.
Mitigation and Capture Labels: The indicator places a label below the bar when a gap is identified, highlighting zones where gaps may be mitigated or captured. The color scheme helps traders quickly interpret the status of a gap.
Underlying Concepts and Practical Application
The Fair Value Gap is widely used in liquidity analysis and price reversal zones. By identifying FVG zones based on large price movements, this script enables traders to monitor potential gap-fill areas. With the large movement filter, the indicator is ideal for strategies that prioritize liquidity and price zone mitigation, making it useful for both short-term (scalping) and long-term strategies.
This indicator provides a solid foundation for traders interested in observing price imbalances and future mitigations.
War IndexIntroduction
Welcome to the War Index! This project aims to provide traders, investors, and analysts with a specialized financial indicator that tracks the performance of key defense and aerospace companies. By aggregating the percentage changes of selected stocks, the War Index offers insights into the defense sector's dynamics and its relationship with the broader market.
What is the War Index?
The War Index is a custom financial indicator designed to approximate the collective performance of major defense and aerospace companies. It aggregates the daily percentage changes of selected stocks within the defense sector to provide a singular metric that reflects the overall health and trends of this industry. Additionally, the index is compared against the S&P 500 (SPX) to contextualize its performance relative to the broader market.
Index Components
The War Index comprises the following 16 stocks, each representing a significant player in the defense and aerospace industries:
Lockheed Martin Corporation ( NYSE:LMT )
Northrop Grumman Corporation ( NYSE:NOC )
Boeing Company ( NYSE:BA )
Raytheon Technologies Corporation ( NYSE:RTX )
General Dynamics Corporation ( NYSE:GD )
BAE Systems plc ( OTC:BAESY )
L3Harris Technologies, Inc. ( NYSE:LHX )
Textron Inc. ( NYSE:TXT )
Huntington Ingalls Industries, Inc. ( NYSE:HII )
Oshkosh Corporation ( NYSE:OSK )
Leidos Holdings, Inc. ( NYSE:LDOS )
Kratos Defense & Security Solutions, Inc. ( NASDAQ:KTOS )
Spirit AeroSystems Holdings, Inc. ( NYSE:SPR )
Parsons Corporation ( NYSE:PSN )
CACI International Inc ( NYSE:CACI )
ViaSat, Inc. ( NASDAQ:VSAT )
Purpose of the War Index
The War Index serves several key purposes:
Sector Performance Tracking : By aggregating the performance of major defense and aerospace companies, the index provides a clear picture of the sector's overall health.
Investment Analysis : Investors can use the index to identify trends, evaluate sector strength, and make informed decisions regarding their portfolios.
Comparative Benchmarking : Comparing the War Index with broader market indices like the S&P 500 helps in understanding how the defense sector performs relative to the general market.
Disclaimer: This War Index is an approximated indicator intended for informational purposes only. It should not be construed as investment advice. Always conduct your own research or consult with a financial advisor before making investment decisions.
Previous Daily Candle The Previous Daily Candle indicator is a powerful tool designed to enhance your intraday trading by providing clear visual cues of the previous day's price action. By outlining the high, low, open, and close of the previous daily candle and adding a middle dividing line, this indicator offers valuable context to inform your trading decisions.
🎯 Purpose
Visual Clarity: Highlight the key levels from the previous day's price movement directly on your intraday charts.
Trend Confirmation: Quickly identify bullish or bearish sentiment based on the previous day's candle structure.
Support and Resistance: Use the outlined high and low as potential support and resistance levels for your trading strategies.
Customizable Visualization: Tailor the appearance of the outlines and middle line to fit your trading style and chart aesthetics.
🛠️ Features
Outlined Candle Structure:
High and Low Lines: Clearly mark the previous day's high and low with customizable colors and line widths.
Open and Close Representation: Visualize the previous day's open and close through the outlined structure.
Middle Dividing Line:
Average Price Level: A horizontal line divides the candle in half, representing the average of the open and close prices.
Customizable Appearance: Adjust the color and thickness to distinguish it from the high and low outlines.
Bullish and Bearish Differentiation:
Color-Coded Outlines: Automatically change the outline color based on whether the previous day's candle was bullish (green by default) or bearish (red by default).
Enhanced Visual Feedback: Quickly assess market sentiment with intuitive color cues.
Customization Options:
Outline Colors: Choose distinct colors for bullish and bearish candle outlines to match your chart's color scheme.
Middle Line Color: Select a color that stands out or blends seamlessly with your existing chart elements.
Line Width Adjustment: Modify the thickness of all lines to ensure visibility without cluttering the chart.
Transparent Candle Body:
Non-Intrusive Display: The indicator only draws the outlines and middle line, keeping the candle body transparent to maintain the visibility of your primary chart data.
⚙️ How It Works
Data Retrieval: The indicator fetches the previous day's open, high, low, and close prices using TradingView's request.security function.
Candle Analysis: Determines whether the previous day's candle was bullish or bearish by comparing the close and open prices.
Dynamic Drawing: Upon the start of a new day, the indicator deletes the previous outlines and redraws them based on the latest data.
Time Synchronization: Accurately aligns the outlines with the corresponding time periods on your intraday chart.
📈 How to Use
Add to Chart:
Open TradingView and navigate to the Pine Editor.
Paste the provided Pine Script code into the editor.
Click on Add to Chart to apply the indicator.
Customize Settings:
Access the indicator's settings by clicking the gear icon next to its name on the chart.
Adjust the Bullish Outline Color, Bearish Outline Color, Middle Line Color, and Outline Width to your preference.
Interpret the Lines:
Bullish Candle: If the previous day's close is higher than its open, the outlines will display in the bullish color (default green).
Bearish Candle: If the previous day's close is lower than its open, the outlines will display in the bearish color (default red).
Middle Line: Represents the midpoint between the open and close, providing a quick reference for potential support or resistance.
Integrate with Your Strategy:
Use the high and low outlines as potential entry or exit points.
Combine with other indicators for confirmation to strengthen your trading signals.
Customizable Multi-Timeframe Doji with Ray and Editable LabelScript Overview
Script Name: Customizable Multi-Timeframe Doji Candle Levels with Ray and Editable Label
Purpose: This script helps traders identify significant price levels based on high timeframe Doji candles, allowing them to visualize key areas of support, resistance, entry, and exit. By plotting real-time Doji levels from higher timeframes directly on the current chart, traders can easily spot areas where market indecision or potential trend reversals have previously occurred, making these levels highly relevant for future price action.
How the Script Works
This script detects Doji candles on a selected higher timeframe (e.g., daily, weekly, monthly) and plots a ray at the Doji’s closing level on the current chart. The Doji candle formation, characterized by an open and close that are very close or equal, is often an indicator of market indecision. By identifying these Doji levels from high timeframes, the script provides traders with insight into where strong support and resistance zones may form.
The script continuously monitors and updates the Doji level based on the selected timeframe, ensuring that only the latest detected Doji candle is displayed on the chart, helping traders avoid clutter and focus on the most recent data.
Core Components and Calculations
1 Doji Detection Logic:
-The script calculates the Doji candle formation based on a small body percentage (defined by the C_DojiBodyPercent parameter) and relative symmetry in upper and lower shadows (defined by C_ShadowPercent and C_ShadowEqualsPercent).
-A Doji is considered valid when the open and close prices are nearly equal, and the shadows are symmetric within the defined parameters, indicating indecision.
2 Multi-Timeframe Data Retrieval:
-Using the request.security() function, the script fetches open, high, low, and close prices from the specified higher timeframe. It applies Doji detection logic to this higher timeframe data.
-barmerge.lookahead_on and barmerge.gaps_on ensure real-time updates, so the Doji level is immediately reflected on the chart when detected.
3 Ray and Label Plotting:
-When a Doji candle is detected on the selected timeframe, the script plots a ray at the Doji's close price, extending forward on the chart.
-Customizable options for the ray, including color, width, and style (solid, dotted, or dashed), help traders visually differentiate the Doji levels from other chart elements.
-An editable label can be positioned alongside the ray to denote the Doji level, with customizable text, color, background, and size to provide additional context.
4 Automatic Line and Label Management:
-The script dynamically deletes any previous ray and label when a new Doji is detected. This approach minimizes chart clutter and ensures that only the most recent Doji level from the higher timeframe is displayed.
Customization Options
1 Timeframe Selection:
Users can choose any timeframe (e.g., hourly, daily, weekly, monthly) to display Doji levels based on their specific trading strategy.
2 Ray and Label Appearance:
Ray: Customize color, width, and line style (solid, dotted, dashed) for better visibility and integration with the chart’s theme.
Label: Customize the label text, background color, text color, text size, and position (above, below, left, or right of the ray) for a personalized view.
How to Use This Script
1 Select the Target Timeframe for Doji Detection: Choose a high timeframe (such as daily or weekly) to view Doji-based support/resistance levels.
2 Set Custom Ray and Label Parameters : Adjust the visual aspects of the ray and label to align with your chart setup and make the Doji level stand out.
3 Interpretation of Doji Levels: Use the plotted Doji levels as potential support or resistance zones. Since Doji candles reflect market indecision, they often precede significant price reversals or strong continuation moves. By analyzing these levels, traders can:
- Identify key support/resistance zones based on historical market indecision.
- Set entry and exit levels around these zones to capitalize on potential reversals or
continuations.
-Spot confluence areas where the Doji level aligns with other indicators or technical patterns.
Recommended Chart Setup
For optimal clarity, use this script on a clean chart, free from overlapping indicators. This script is designed to work independently, so avoid layering multiple support/resistance scripts unless essential to avoid clutter. A clean chart helps ensure that Doji levels are readily visible, enabling a clear focus on significant levels relevant to your trading strategy.
Position Size Calculator by Dr. Rahul Ware.Position Size Calculator
The Position Size Calculator script helps traders determine the optimal position size for their trades based on their account balance, risk percentage, and stop loss parameters. It calculates the number of shares to buy and the total position size in INR (Indian Rupees), providing a clear and concise way to manage risk effectively.
Key Features:
Account Balance Input: Specify your account balance in INR to tailor the position size calculations to your specific trading capital.
Risk Percentage Input: Define the percentage of your account balance you are willing to risk on each trade, ensuring you stay within your risk tolerance.
Stop Loss Options: Choose between using a fixed stop loss price or a stop loss percentage to calculate the risk amount per share.
Dynamic Stop Loss Line: The script plots a red dotted line representing the stop loss price on the chart, updating dynamically for the last bar.
Comprehensive Table Display: View key metrics, including account balance, risk percentage, amount at risk, current price, stop loss price, stop loss percentage, position size in INR, and the number of shares to buy, all in a neatly formatted table.
This tool is designed to enhance your trading strategy by providing precise position sizing, helping you manage risk effectively and make informed trading decisions. Use this script to optimize your trade sizes and improve your overall trading performance.
Candle Range Theory - AlgoVisionUnderstanding Candle Range Theory (CRT) in the AlgoVision Indicator
Candle Range Theory (CRT) is a structured approach to analyzing market movements within the price ranges of candlesticks. CRT is founded on the idea that each candlestick on a chart, regardless of timeframe, represents a distinct range of price action, marked by the candle's open, high, low, and close. This range gives insights into market dynamics, and when analyzed in lower timeframes, reveals patterns that indicate underlying market sentiment and institutional behaviors.
Key Concepts of Candle Range Theory
Candlestick Range: The range of a candlestick is simply the distance between its high and low. Across timeframes, this range highlights significant price behavior, with each candlestick representing a snapshot of price movement. The body (distance between open and close) shows the primary price action, while wicks (shadows) reflect price fluctuations or "noise" around this movement.
Multi-Timeframe Analysis: A higher-timeframe (HTF) candlestick can be dissected into smaller, structured price movements in lower timeframes (LTFs). By analyzing these smaller movements, traders gain a detailed view of the market’s progression within the HTF candlestick’s range. Each HTF candlestick’s high and low provide support and resistance levels on the LTF, where the price can "sweep," break out, or retest these levels.
Market Behavior within the Range: Price action within a range doesn’t move randomly; it follows structured behavior, often revealing patterns. By analyzing these patterns, CRT provides insights into the market’s intention to accumulate, manipulate, or distribute assets within these ranges. This behavior can indicate future market direction and increase the probability of accurate trading signals.
CRT and ICT Power of 3: Accumulation, Manipulation, and Distribution (AMD)
A foundational element of our CRT indicator is its combination with ICT’s Power of 3 (Accumulation, Manipulation, and Distribution or AMD). This approach identifies three stages of market movement:
Accumulation: During this phase, institutions accumulate positions within a tight price range, often leading to sideways movement. Here, price consolidates as institutions carefully enter or exit positions, erasing traces of their intent from public view.
Manipulation: Institutions often use manipulation to create false breakouts, targeting retail traders who enter the market on perceived breakouts or reversals. Manipulation is characterized by liquidity grabs, false breakouts, or stop hunts, as price momentarily moves outside the established range before quickly returning.
Distribution: Following accumulation and manipulation, the distribution phase aligns with the true market direction. Institutions now allow the market to move with the trend, initiating a stronger and more sustained price movement that aligns with their intended position.
This AMD cycle is often observed across multiple timeframes, allowing traders to refine entries and exits by identifying accumulation, manipulation, and distribution phases on smaller timeframes within the range of a higher-timeframe candle. CRT views this cycle as the "heartbeat" of the market—a continuous loop of price movements. With our indicator, you can identify this cycle on your current timeframe, with the signal candle acting as the "manipulation" candle.
How to Use the AlgoVision CRT Indicator
The AlgoVision CRT Indicator is designed to assist traders in identifying actionable points within the candle range framework. Our indicator operates by generating signals on the close of the second candle, setting up the expectation to trade the third candle as the "manipulation" candle. This is where price movement in a targeted direction typically occurs. Once you receive a signal on candle two's close, you can prepare to execute a trade on the next candle based on the manipulation phase within the CRT framework.
By setting alerts on a higher timeframe, you can receive either bullish or bearish signals that prepare you to enter trades on a lower timeframe. For instance, a bullish signal on the higher timeframe may signal to watch for a setup on the lower timeframe, allowing for precision entries during the accumulation or manipulation phases.
Conclusion By combining CRT with ICT Power of 3, the AlgoVision Indicator allows traders to leverage the CRT candlestick as a versatile tool for identifying potential market moves. This method provides beginners and seasoned traders alike with a robust framework to understand market dynamics and refine trade strategies across timeframes. Setting alerts on the higher timeframe to catch bullish or bearish CRT signals allows you to plan and execute trades on the lower timeframe, aligning your strategy with the broader market flow.
Buy&Sell Hollow CandlesThe Hollow Candles Script is a type of candlestick analysis script designed to highlight the following:
Purpose of the Script: This script provides the user with buy and sell signals based on candlesticks that show an upward or downward reversal.
Mechanism of the Script: When a hollow (unfilled) red candle appears, it signals a potential entry, provided that this candle is at a low point, following a series of red candles with higher volume than previous days. Similarly, it gives a sell signal when a green candle appears at a peak with high sell volume surpassing that of prior days. However, the appearance of these candles alone should not prompt an immediate buy or sell; you should wait for a confirming candle to validate the signal.
Sideways Movement Caution: If these signals appear during a sideways or flat trend, it is not advisable to proceed with buying or selling.
Chart Insights: The chart demonstrates certain buy and sell operations along with some non-ideal signals where decision-making should be based on fundamental analytical experience.
Dynamic Time Period CandlesThis indicator gives the dynamic history of the current price over various time frames as a series of candles on the right of the display, with optional lines on the chart, so that you can assess the current trend more easily.
In the library I found lots of indicators that looked at the previous xx time period candle, but they then immediately switched to the new xx time candle when it started to be formed. This indicator looks back at the rolling previous time period. With this indicator, you can clearly see how price has been behaving over time.
IMPORTANT SETUP INFO:
Initially, you must go into the settings and select the timeframe (in minutes) that your chart is displaying. If you don't do this then the indicator will look back the wrong number of candles and give you totally wrong results.
You can then setup how high you want the candle labels to be on the chart.
Then you can select settings for each candle that you want displayed. Anywhere between 1 and 5 different timeframes can be displayed on the chart at once.
I initially published an indicator called 'Dynamic 4-Hour Candle (Accurate Highs and Lows)', but this new indicator is so different that it needs to be forked and published as a separate indicator. The reasons for this are below:
The original indicator only looked at the previous 4 hour time period. This indicator allows the user to select any time period that they choose.
The original indicator only looked at one time period. This indicator allows to select between one and five time periods on the chart at once.
The original indicator did not put lines on the chart to show the lookback period and the highs and lows of that time period. This indicator does both those things.
The name of the original indicator in no way now describes what this new indicator is capable of, and would be very misleading to anyone who came across it. This new indicator has a name that much more accurately reflects what its' purpose and functionality is.
[ AlgoChart ] - Compare MarketIndicator Description:
This indicator allows you to display a second asset, selectable from the input panel, in a separate window. Plotted on the same time scale as the first asset but with a distinct price scale, the indicator enables analysis of the relationships and relative movements of two financial instruments. It’s an ideal tool for understanding whether two assets move in a correlated or divergent manner.
Key Features:
Multi-Asset Comparison: Display two assets simultaneously to compare their trends.
Custom Scale: Each asset uses its own price scale, making comparative analysis easier.
Intuitive Interface: Easily select the second asset through the input panel.
Operational Applications:
Spread Trading: Identify optimal moments to execute spread trades when two highly correlated instruments move in opposite directions.
Supply & Demand: Pinpoint zones of interest on both assets, increasing the validity of support and resistance areas.
Exposure Reduction: Monitor instruments that move similarly to avoid exposing the portfolio in identical directions, thereby reducing the risk of double losses.
Additional Features:
Candle Color Change: When a directional divergence occurs between the two assets, the candles change color to highlight the event.
Customizable Notifications: Receive instant alerts when a divergence occurs, allowing you to act promptly.
Previous Day High and Low Count with Probabilities
Indicator Explanation
This indicator displays the number of days on which the previous day's high or low prices were not reached and calculates probabilities for future price movements based on this information. It stores the high and low values of the last 45 days and checks daily whether these levels were touched. Based on the number of days without touching either the high or the low, the indicator calculates the probability of future price movements in either direction (Up or Down).
The indicator offers customization options for label placement and color on the chart. The counts for the high and low touches, along with the calculated probabilities (in percentages), are displayed as labels on the chart. These labels can be shifted along the X-axis by up to 50 bars and can be customized in color and size. Additionally, the text for the labels can be freely chosen, giving the user improved flexibility and overview.
In summary, this indicator helps to:
- Track how often previous day's high and low levels were not reached.
- Estimate probabilities for future price movements based on this information.
- Customize the chart display for easier interpretation.
Strategy Concept
Probability and Touch Conditions:
A long position is entered only if:
The probability of reaching the high is at least 60%.
The price has not touched the previous day’s high in the last three days.
Similarly, for short positions:
The probability of reaching the low is at least 60%.
The price has not touched the previous day’s low in the last three days.
Incremental Position Size Increase:
On the 3rd consecutive day without a high/low touch and with the probability condition met, an initial position of 0.01 lots is opened.
On the 4th day, an additional position of 0.01 lots is added.
On the 5th day, an extra position of 0.02 lots is opened.
After a two-day pause, the situation is re-evaluated, and if conditions are still met, a 0.04-lot position is considered.
Trend Reversal Detection:
The strategy also includes a simple trend reversal check. If the market shows clear reversal signals, no new positions will be opened.
Adjustments and Risk Management
This strategy can be adjusted by modifying the probability values, the number of days without a high/low touch, and the lot sizes. Additionally, stop-loss and take-profit levels can be added to further control the risk and secure profits.
Strategy Concept
Probability and Touch Conditions:
A long position is entered only if:
The probability of reaching the high is at least 60%.
The price has not touched the previous day’s high in the last three days.
Similarly, for short positions:
The probability of reaching the low is at least 60%.
The price has not touched the previous day’s low in the last three days.
Incremental Position Size Increase:
On the 3rd consecutive day without a high/low touch and with the probability condition met, an initial position of 0.01 lots is opened.
On the 4th day, an additional position of 0.01 lots is added.
On the 5th day, an extra position of 0.02 lots is opened.
After a two-day pause, the situation is re-evaluated, and if conditions are still met, a 0.04-lot position is considered.
Trend Reversal Detection:
The strategy also includes a simple trend reversal check. If the market shows clear reversal signals, no new positions will be opened.
Risk Disclaimer
The author of this strategy does not assume any liability for potential losses or gains that may arise from the use of this strategy. Trading involves significant risk, and it is important to only trade with capital that you can afford to lose. The strategy presented is for educational purposes only and should not be considered as financial advice. Always conduct your own research and consider seeking advice from a professional financial advisor before making any trading decisions.
Seasonality v1.33.Seasonality v1.33 - Seasonal Indicator for Trading Trends
Seasonality v1.33 is a tailored indicator designed to analyze seasonal trends in historical price movements, assisting traders in making informed decisions. In its beta version, Seasonality v1.33 allows users to select up to two specific months and compare price changes for these months across several years, helping to identify potential seasonal patterns.
Indicator Features
Identifying Seasonal Trends: By choosing up to two months and a range of years, Seasonality v1.33 offers a visual representation of average price changes and highlights potential positive or negative trends. This supports traders in spotting recurring seasonal price movements that may be influenced by yearly cycles or market conditions.
Historical Comparison Across Multiple Years: The indicator displays the percentage price changes for the selected months over up to 10 years, allowing traders to observe consistency in price fluctuations across different years.
Visual Presentation: A color-coded table shows the dominant trend, either positive or negative, and highlights monthly trends for easy reference. The table size and position can be customized, allowing integration into each user’s preferred chart layout.
How to Use
Month and Year Selection: In the current beta version, traders can select two specific months and a range of years to check for potential seasonal effects.
Trend Summary: The table provides both individual yearly data and an overall trend signal for the selected months, giving a quick overview of prevailing tendencies.
Customizable Display: The table’s position and text size are adjustable to fit seamlessly into the user’s charting interface.
Limitations and Considerations
Data Dependency: The accuracy of analysis relies on the availability of historical price data, which may vary depending on the market or asset.
No Guarantee of Future Trends: While past trends provide insights, they do not guarantee future results. This indicator serves as a supportive tool but should be complemented by thorough analysis and sound risk management.
Feedback and Suggestions
The Seasonality v1.33 indicator is available in beta for free use and testing until the end of the month. Your feedback is highly valued! Comments and suggestions will help us improve future versions and tailor them to the needs of traders.
Normal Price Indicator by KirillPOHEnglish:
Normal Price Indicator is a technical indicator designed to analyze market prices and find normal price levels, as well as the upper and lower boundaries of the normal price area for a given period of time. The indicator is designed for traders and analysts who want to track price movements and identify potential levels for buying or selling based on statistical calculations.
This indicator calculates three main lines:
- The Normal price (Median Price) — the line showing the median of prices for the selected period.
- Upper Bound — a line located at a certain distance from the normal price, based on the standard deviation.
- Lower Bound — a line also located based on the standard deviation from the normal price.
In addition, the indicator can highlight areas on the chart when the price goes beyond these boundaries, which can be a signal to traders about possible important levels.
Main Features:
- Normal price: It is calculated as the median of prices for a given period of time, which helps to track the typical price value on the chart.
- Upper and lower bounds: These limits are calculated as the average price ± (multiplier * standard deviation), which allows you to take into account market fluctuations and set a price range in which the price is considered "normal".
- Adaptation to the scale of the graph: The lines of the indicator adjust correctly to changes in the scale of the chart, while maintaining a link to price levels. They are always displayed in the current position, no matter how much you increase or decrease the graph.
- Zone allocation: The indicator also allows you to highlight areas on the chart where the price is above the upper limit or below the lower limit, which may signal unusual market conditions.
How to use the indicator:
1. The normal price (Median Price): This is the main line of the indicator, which shows the central price level on the chart for the selected period. It helps traders keep track of the standard market level and determine if the current price is within that range.
2. Upper and lower borders: These lines are used to identify potential deviations from the normal price zone. If the closing price turns out to be above the upper limit or below the lower one, this may indicate strong market movements or potential reversals. For example:
- The price above the upper limit may signal a strong bullish trend.
- The price below the lower limit may indicate a bearish trend or a strong correction.
3. Areas on the graph: The indicator highlights the background when the price is above the upper limit (the area is colored green) or below the lower limit (the area is colored red). These visual cues can help traders quickly identify deviations.
Settings :
- Period: The period for calculating the median, standard deviation, and upper/lower bounds. It is usually set to 14, but can be changed depending on the user's needs.
is the multiplier for the standard deviation: This parameter allows you to adjust how much the upper and lower limits will deviate from the normal price. The standard value is 2, which corresponds to two standard deviations, but can be adjusted to suit your needs.
Application:
Traders can use the indicator to analyze market levels and make decisions about entering or exiting the market. Analysts can use the indicator to identify normal price ranges and deviations, which allows them to more accurately predict market trends and potential pivot points.
This indicator is not a signal for trading, but rather a tool for analyzing the market and price levels. It should be used in combination with other indicators and analysis methods for more accurate trading decisions.
Russia:
Normal Price Indicator — это технический индикатор, предназначенный для анализа рыночных цен и нахождения нормальных ценовых уровней, а также верхних и нижних границ нормальной ценовой области за заданный период времени. Индикатор предназначен для трейдеров и аналитиков, которые хотят отслеживать ценовые движения и выявлять потенциальные уровни для покупки или продажи, основываясь на статистических расчетах.
Этот индикатор рассчитывает три основные линии:
- Нормальная цена (Median Price) — линия, отображающая медиану цен за выбранный период.
- Верхняя граница (Upper Bound) — линия, находящаяся на определённом расстоянии от нормальной цены, основанная на стандартном отклонении.
- Нижняя граница (Lower Bound) — линия, также расположенная на основе стандартного отклонения от нормальной цены.
Кроме того, индикатор может выделять области на графике, когда цена выходит за пределы этих границ, что может быть сигналом для трейдеров о возможных важных уровнях.
Основные особенности:
- Нормальная цена: Вычисляется как медиана цен за заданный период времени, что помогает отследить типичное значение цены на графике.
- Верхняя и нижняя границы: Эти границы рассчитываются как средняя цена ± (множитель * стандартное отклонение), что позволяет учитывать рыночные колебания и задавать диапазон цен, в котором цена считается "нормальной".
- Адаптация под масштаб графика: Линии индикатора корректно подстраиваются под изменения масштаба графика, сохраняя привязку к уровням цен. Они всегда отображаются в актуальном положении, независимо от того, насколько вы увеличиваете или уменьшаете график.
- Выделение зон: Индикатор также позволяет выделять области на графике, где цена находится выше верхней границы или ниже нижней границы, что может сигнализировать о необычных рыночных условиях.
Как использовать индикатор:
1. Нормальная цена (Median Price): Это основная линия индикатора, которая показывает центральный уровень цен на графике за выбранный период. Она помогает трейдерам отслеживать стандартный рыночный уровень и определять, находится ли текущая цена в пределах этого диапазона.
2. Верхняя и нижняя границы: Эти линии используются для выявления потенциальных отклонений от нормальной ценовой зоны. Если цена закрытия оказывается выше верхней границы или ниже нижней, это может свидетельствовать о сильных движениях на рынке или потенциальных разворотах. Например:
- Цена выше верхней границы может сигнализировать о сильном бычьем тренде.
- Цена ниже нижней границы может указывать на медвежий тренд или сильную коррекцию.
3. Области на графике: Индикатор выделяет фон, когда цена находится выше верхней границы (область окрашивается в зелёный) или ниже нижней границы (область окрашивается в красный). Эти визуальные подсказки могут помочь трейдерам быстро выявить отклонения.
Параметры настройки :
- Период: Период для расчета медианы, стандартного отклонения и верхних/нижних границ. Обычно устанавливается на 14, но может быть изменён в зависимости от потребностей пользователя.
- Множитель для стандартного отклонения: Этот параметр позволяет настроить, насколько сильно будут отступать верхняя и нижняя границы от нормальной цены. Стандартное значение — 2, что соответствует двум стандартным отклонениям, но можно настроить под свои нужды.
Применение:
Трейдеры могут использовать индикатор для анализа рыночных уровней и принятия решений о входе или выходе на рынок. Аналитики могут использовать индикатор для выявления нормальных диапазонов цен и отклонений, что позволяет более точно прогнозировать рыночные тренды и потенциальные точки разворота.
Этот индикатор не является сигналом для торговли, а скорее инструментом для анализа рынка и ценовых уровней. Его стоит использовать в комплексе с другими индикаторами и методами анализа для более точных торговых решений.
Daily CRTDaily CRT Indicator
The Daily CRT Indicator is a custom technical analysis tool designed to help traders identify and visualize key price patterns on the daily timeframe. Specifically, it detects and marks the "Sweep and Close Inside" pattern, which is a price action pattern that can signal potential trading opportunities.
Key Features:
Pattern Detection:
The indicator detects two specific price action patterns:
Sweep and Close Above: When the current price sweeps above the previous day’s high and closes inside the range, indicating a potential bullish breakout or continuation.
Sweep and Close Below: When the current price sweeps below the previous day’s low and closes inside the range, signaling a potential bearish move.
Horizontal Lines:
The indicator automatically draws horizontal lines at the previous day’s high and low levels whenever a pattern is detected, providing a visual reference for key support and resistance zones.
These lines are displayed in real-time on the chart and adjust dynamically as new patterns form.
Customizable Line Appearance:
Choose the color, thickness, and style (solid, dashed, or dotted) of the lines to fit your preferred chart aesthetic.
Alert System:
The indicator comes with built-in alerts. Set an alert to notify you when the Sweep and Close Inside pattern is detected, helping you stay on top of potential trade setups.
History Management:
Show History: Optionally display the detected patterns on previous bars (past patterns).
Customizable History Duration: Control how far back you want to view the patterns, allowing you to adjust for a cleaner chart and focus on the most recent setups.
Visual Labels:
When the pattern is detected, the indicator can display a label under the bar (customizable) to highlight the occurrence of the pattern, making it easier for traders to spot potential trade signals.
Built for the Daily Timeframe:
This indicator is specifically designed to work on the daily timeframe and is ideal for swing traders and longer-term traders who are focused on the daily price action and want to capture patterns that indicate potential market reversals or breakouts.
How It Works:
The indicator monitors the previous day's price action and looks for situations where the current price action either sweeps the previous day's high or low and then closes inside the range of the previous day's bar. This type of price movement can often signal that a reversal or continuation is about to occur. The indicator marks these setups by drawing horizontal lines and optionally displays labels for quick identification.
Settings & Customization:
Line Color: Customize the color of the lines marking the previous day’s high and low.
Line Thickness: Choose from different thickness levels for better visibility.
Line Style: Pick from solid, dashed, or dotted styles.
Show History: Toggle the display of historical patterns, with the option to control how many days back to show.
Show Labels: Option to toggle the display of labels when the pattern is detected.
Alert Condition: Receive alerts when a pattern is detected, ensuring you never miss a trade opportunity.
Ideal For:
Swing Traders: This indicator is perfect for traders looking to capture swings in the market based on daily price action.
Pattern Traders: Those who trade based on specific chart patterns will benefit from this tool, as it identifies important reversal and breakout signals.
Technical Analysts: Anyone who incorporates price action patterns into their strategy can use this tool as a supplemental analysis tool to improve their trading decisions.
By using the Daily CRT Indicator, you’ll have a powerful tool to help you spot important price action patterns that may indicate key market moves. Whether you're looking to catch breakouts, reversals, or simply track significant support and resistance levels, this indicator is a versatile addition to your trading toolkit.
This description provides a clear understanding of how the Daily CRT Indicator works and what value it offers, making it easy for traders to know if it fits their trading style. Feel free to tweak the description further depending on the details you’d like to emphasize.
Trade Rush IndicatorTrade Rush Indicator
The Trade Rush Indicator is a comprehensive tool designed for traders who seek a clear visualization of key moving averages, combined with Bollinger Bands to identify potential trading opportunities. This script provides a unique approach to trend analysis by combining multiple Exponential Moving Averages (EMA) and Simple Moving Averages (SMA) with varying lengths, along with Bollinger Bands set to both 1 and 2 standard deviations.
Key Features:
EMAs & SMAs: The indicator includes several EMAs (5, 9, 21, 50, 100, 120, 200, 400) and SMAs (21, 50, 100, 120, 200, 400), each serving a different timeframe perspective. The EMAs and SMAs are color-coded for quick reference, and some of the longer-period moving averages (50 EMA, 100 EMA, etc.) are hidden by default to reduce chart clutter but can be manually enabled.
Bollinger Bands: Bollinger Bands are set at 1 and 2 standard deviations to assist in visualizing price volatility. The space between the 1σ and 2σ bands is filled with a light cloud, making it easy to spot periods of higher volatility. This band configuration helps traders assess potential breakout or reversal zones.
Ichimoku Cloud Overlay: Although the Ichimoku cloud calculation is included, it is hidden by default and can be activated when additional trend confirmation is needed. The cloud’s opacity is set to be subtle, allowing it to enhance chart readability without overwhelming other indicators.
Usage:
The Trade Rush Indicator is ideal for swing traders and intraday traders who rely on moving average crossovers, Bollinger Band volatility signals, and trend confirmation through Ichimoku cloud analysis. By visualizing multiple moving averages and Bollinger Bands, traders can identify trend direction, support/resistance zones, and potential breakout areas.
Originality and Value:
This script is a tailored solution for traders who seek a blend of moving averages and Bollinger Bands to enhance their trend-following strategies. Unlike standard setups, the Trade Rush Indicator provides extensive customization options, allowing traders to enable/disable specific indicators based on their trading style and preferences. Its structure also provides unique insights into volatility and trend strength by layering various EMAs and SMAs, helping traders make more informed decisions.
Heisenberg Uncertainty Moving Average (HUMA)Overview
This script introduces and approximation of the Heisenberg Uncertainty Moving Average (HUMA), inspired by the principles of quantum physics, particularly the Heisenberg Uncertainty Principle. The indicator dynamically adjusts its moving average length based on price and momentum uncertainty, ensuring adaptability to market conditions. It also features dynamic coloring to indicate the slope of the moving average.
Step-by-Step Explanation
Calculate Uncertainty in Price (Δx):
The price uncertainty is measured over a specified lookback period (length).
This is done by finding the difference between the highest high and lowest low over the period
Momentum uncertainty is defined using the Rate of Change (ROC) of the closing price over the same lookback period (length).
This indicates how much the price has changed over that period, providing a measure of momentum uncertainty.
Introduce Planck’s Constant (h):
Planck’s constant (h) is scaled down for financial use to set a theoretical minimum threshold for the product of uncertainties.
The threshold is defined as h / (4 * π) to simulate a limit that aligns with the Heisenberg Uncertainty Principle in physics.
Calculate the Uncertainty Product (Δx ⋅ Δp):
The product of price uncertainty (Δx) and the absolute value of momentum uncertainty (Δp) is calculated.
To ensure the product respects the minimum threshold set by quantum principles, the value is capped using math.max(uncertainty_product, threshold).
Normalize the Uncertainty Product to Determine the Moving Average Window Size:
The uncertainty product is used to adjust the length of the moving average dynamically.
The formula inversely adjusts the moving average length based on uncertainty: higher uncertainty results in a shorter (more responsive) window and lower uncertainty results in a longer (smoother) window.
Calculate the Heisenberg Uncertainty Moving Average (HUMA):
The slope is determined by finding the difference between the current HUMA value and the value from the previous period, smoothed with a Double Exponential Moving Average (DEMA).
This helps identify the direction of the trend: positive slope indicates an uptrend, and negative slope indicates a downtrend.
Dynamic Coloring Based on the Slope:
Bidirectional MoM w/ Time Weighting | Optional Intrabar DataBidirectional MoM w/ Time Weighting | Optional Intrabar Data
Core Components:
Intrabar Data Extraction:
The script optionally harnesses lower time frame data (e.g., per-second intervals) for high and low prices within each primary bar. You can set it to the current chart time but if you want to use intrabar data it uses the request.security_lower_tf() to properly pull intrabar data.
This fine-grained data enables an in-depth examination of the price action that occurs within a standard timeframe, enhancing the ability to detect subtle market movements.
A key threshold based on Average True Range (ATR) is used to measure significant price changes intrabar, adding a robust filter for volatility sensitivity.
Cumulative Time-to-Threshold Analysis:
The indicator tracks how long it takes for price changes to reach specified thresholds, marking critical time points when upward or downward price movements exceed these levels. This approach provides insights into the speed and intensity of directional shifts within the market.
The calculated time-to-threshold values act as temporal markers that influence subsequent momentum weighting.
Bidirectional Momentum Calculation:
Momentum is assessed in two directions (upward and downward) using a comprehensive array of price changes.
Adaptive Weighting Mechanism:
Each momentum value is weighted by the calculated time-to-threshold, giving preference to momentum that occurs more rapidly and aligning with potential breakout conditions.
The script also factors in correlations between momentum and price change, ensuring that only the most relevant signals contribute to the final analysis.
Iterative Length Analysis:
By iterating over a range of lengths (e.g., 100 to 200 periods), the script aggregates data to assess momentum across different time scales. This provides a more holistic view of market behavior, accommodating both short-term fluctuations and longer-term trends.
Each length is evaluated using moving averages and correlations to determine its contribution to the total weighted momentum.
Final Aggregated Output:
The weighted sums of upward and downward momentum are normalized by the total weight to produce a final composite metric.
The indicator plots these results as separate upward and downward momentum lines, offering traders a visual representation of which direction holds more momentum strength over various intervals.
Practical Application:
This indicator's advanced design is tailored for traders who require a deeper understanding of price movement dynamics and the underlying forces driving market momentum. By incorporating intrabar data, adaptive time-to-threshold calculations, and iterative analysis, this tool seeks to provide a clearer view of potential market direction shifts and their timing.
The indicator can be used to:
Identify potential breakout or reversal points by observing significant shifts in weighted momentum.
Gauge the relative strength of uptrends and downtrends through the plotted momentum lines.
Enhance decision-making with an additional layer of granularity from intrabar data.
In essence, this script is an ambitious attempt to blend multi-scale analysis, momentum dynamics, and time-weighted evaluation, creating a unique approach to understanding market behavior beyond conventional indicators.
Enhanced Market Analyzer with Adaptive Cognitive LearningThe "Enhanced Market Analyzer with Advanced Features and Adaptive Cognitive Learning" is an advanced, multi-dimensional trading indicator that leverages sophisticated algorithms to analyze market trends and generate predictive trading signals. This indicator is designed to merge traditional technical analysis with modern machine learning techniques, incorporating features such as adaptive learning, Monte Carlo simulations, and probabilistic modeling. It is ideal for traders who seek deeper market insights, adaptive strategies, and reliable buy/sell signals.
Key Features:
Adaptive Cognitive Learning:
Utilizes Monte Carlo simulations, reinforcement learning, and memory feedback to adapt to changing market conditions.
Adjusts the weighting and learning rate of signals dynamically to optimize predictions based on historical and real-time data.
Hybrid Technical Indicators:
Custom RSI Calculation: An RSI that adapts its length based on recursive learning and error adjustments, making it responsive to varying market conditions.
VIDYA with CMO Smoothing: An advanced moving average that incorporates Chander Momentum Oscillator for adaptive smoothing.
Hamming Windowed VWMA: A volume-weighted moving average that applies a Hamming window for smoother calculations.
FRAMA: A fractal adaptive moving average that responds dynamically to price movements.
Advanced Statistical Analysis:
Skewness and Kurtosis: Provides insights into the distribution and potential risk of market trends.
Z-Score Calculations: Identifies extreme market conditions and adjusts trading thresholds dynamically.
Probabilistic Monte Carlo Simulation:
Runs thousands of simulations to assess potential price movements based on momentum, volatility, and volume factors.
Integrates the results into a probabilistic signal that informs trading decisions.
Feature Extraction:
Calculates a variety of market metrics, including price change, momentum, volatility, volume change, and ATR.
Normalizes and adapts these features for use in machine learning algorithms, enhancing signal accuracy.
Ensemble Learning:
Combines signals from different technical indicators, such as RSI, MACD, Bollinger Bands, Stochastic Oscillator, and statistical features.
Weights each signal based on cumulative performance and learning feedback to create a robust ensemble signal.
Recursive Memory and Feedback:
Stores and averages past RSI calculations in a memory array to provide historical context and improve future predictions.
Adaptive memory factor adjusts the influence of past data based on current market conditions.
Multi-Factor Dynamic Length Calculation:
Determines the length of moving averages based on volume, volatility, momentum, and rate of change (ROC).
Adapts to various market conditions, ensuring that the indicator is responsive to both high and low volatility environments.
Adaptive Learning Rate:
The learning rate can be adjusted based on market volatility, allowing the system to adapt its speed of learning and sensitivity to changes.
Enhances the system's ability to react to different market regimes.
Monte Carlo Simulation Engine:
Simulates thousands of random outcomes to model potential future price movements.
Weights and aggregates these simulations to produce a final probabilistic signal, providing a comprehensive risk assessment.
RSI with Dynamic Adjustments:
The initial RSI length is adjusted recursively based on calculated errors between true RSI and predicted RSI.
The adaptive RSI calculation ensures that the indicator remains effective across various market phases.
Hybrid Moving Averages:
Short-Term and Long-Term Averages: Combines FRAMA, VIDYA, and Hamming VWMA with specific weights for a unique hybrid moving average.
Weighted Gradient: Applies a color gradient to indicate trend strength and direction, improving visual clarity.
Signal Generation:
Generates buy and sell signals based on the ensemble model and multi-factor analysis.
Uses percentile-based thresholds to determine overbought and oversold conditions, factoring in historical data for context.
Optional settings to enable adaptation to volume and volatility, ensuring the indicator remains effective under different market conditions.
Monte Carlo and Learning Parameters:
Users can customize the number of Monte Carlo simulations, learning rate, memory factor, and reward decay for tailored performance.
Applications:
Scalping and Day Trading:
The fast response of the adaptive RSI and ensemble learning model makes this indicator suitable for short-term trading strategies.
Swing Trading:
The combination of long-term moving averages and probabilistic models provides reliable signals for medium-term trends.
Volatility Analysis:
The ATR, Bollinger Bands, and adaptive moving averages offer insights into market volatility, helping traders adjust their strategies accordingly.
Reptile Candle Marker with ArrowsReptile Candle Marker
The Reptile Candle Marker is a custom indicator designed to identify a specific pattern in price action, known as the "reptile candle." This pattern is characterized by a small body with long wicks on both the upper and lower sides. These candles often indicate indecision or a reversal in the market, making them useful for traders looking for potential turning points.
Key Features:
Small Body and Large Wicks: The indicator highlights candles with a small body relative to the overall candle range, accompanied by long upper and lower wicks. This is achieved by comparing the size of the wicks to the body and the overall candle range.
Volume Confirmation: The indicator ensures that the identified candles are accompanied by high volume, which serves as confirmation of the significance of the price action.
Visual Highlighting: When a "reptile" candle is detected, the body of the candle and the wicks are both colored yellow. This allows for easy identification on the chart.
Custom Wick Lines: To ensure the wicks stand out, the indicator draws yellow lines above and below the candles, representing the upper and lower wicks. These lines remain fixed in place even as the chart is scaled or moved.
How It Works:
The indicator identifies candles where:
The upper wick is longer than the body by a specified ratio.
The lower wick is longer than the body by the same ratio.
The candle's body size is small compared to the total candle range (less than 30% of the range).
The volume is significantly higher than the 20-period moving average volume, indicating increased market activity.
When these conditions are met, the indicator marks the candle by coloring its body and wicks yellow. Additionally, it draws custom yellow wick lines to visually represent the wick size.
How to Use:
This indicator is designed to highlight potential reversal points or periods of indecision in the market. Traders can use it to spot possible turning points, especially when accompanied by other technical analysis tools such as support/resistance levels or trend indicators.
Customizable Parameters:
Wick to Body Ratio: Controls the sensitivity for detecting large wicks relative to the candle body.
Volume Factor: Adjusts the threshold for identifying candles with significantly higher volume than the moving average.
The Strat Patterns Indicator v1.0The Strat Patterns Indicator is a tool that draws Strat patterns in real-time, highlights Strat scenarios, key levels, and helps traders effectively apply the Strat trading strategy.
It combines features such as pattern recognition, timeframe continuity analysis, target level highlighting, and custom alerts to simplify trading decisions and maximize profit potential.
Display All Strat Patterns
The Strat Patterns Indicator shows all Strat patterns directly on your chart, making it easier to spot trading opportunities in real-time. You can choose to show or hide specific patterns based on your preferences. The patterns include:
2-2 Continuation
2-2 Reversal
3-2-2 Reversal
2-1-2 Continuation
2-1-2 Reversal
1-2-2 Reversal
3-1-2 Continuation
1-3 Reversal
3-1-2 Reversal
Highlight Major Candlestick Patterns
The indicator highlights important candlestick formations that are crucial for forecasting the major trend reversals in the market. These candlestick patterns include:
Hammer
Shooting Star
Doji
Gravestone Doji
Dragonfly Doji
Morning Doji Star
Evening Doji Star
By showcasing these patterns, the indicator helps traders quickly identify possible reversals or continuations, providing an extra layer of confirmation for trading decisions.
Timeframe Continuity Table
This indicator includes a customizable table that displays timeframe continuity, allowing you to align your trades with the overall market trend. You can select up to four higher timeframes to monitor, helping you ensure that your trades follow the broader trend direction.
This feature makes it easy to identify whether the market trend is aligned across multiple timeframes, enhancing your ability to make high-probability trades.
Show Target Levels (Previous Highs/Lows)
The indicator highlights target levels based on previous highs or lows, making it easier to set realistic profit targets and manage trades effectively.
By identifying these key levels, you can better gauge potential price movements and plan your trades with greater precision, ensuring that you maximize profit opportunities while minimizing risk.
Highlight Higher Timeframe Target Levels
This feature allows you to display target levels from a higher timeframe while trading on a lower timeframe.
For example, if you are trading on a 4-hour chart, you can choose to show daily target levels, including high/low levels and Fibonacci golden ratios. This helps you identify more significant profit targets and enhances your ability to capture larger moves while staying aligned with the overall trend.
Breakout Confirmation
The indicator provides an option to display the previous candlestick's high or low value, helping you confirm breakouts in Strat patterns. This feature is useful for validating whether a true breakout has occurred, giving you greater confidence in your trade entries and helping you avoid potential false breakouts.
Alerts for Strat Patterns
With this feature, you can set up alerts that trigger whenever a Strat pattern forms. This ensures you never miss a trading opportunity, keeping you informed and ready to act when key patterns emerge. The alerts provide real-time notifications, allowing you to stay on top of market movements without constantly monitoring your charts.
Trade Mavrix: Elite Trade NavigatorYour ultimate trading companion that helps you spot profitable breakouts, perfect pullbacks, and crucial support & resistance levels. Ready to take your trading to the next level? Let's dive in!
Enhanced London Session SMC SetupEnhanced London Session SMC Setup Indicator
This Pine Script-based indicator is designed for traders focusing on the London trading session, leveraging smart money concepts (SMC) to identify potential trading opportunities in the GBP/USD currency pair. The script uses multiple techniques such as Order Block Detection, Imbalance (Fair Value Gap) Analysis, Change of Character (CHoCH) detection, and Fibonacci retracement levels to aid in market structure analysis, providing a well-rounded approach to trade setups.
Features:
London Session Highlight:
The indicator visually marks the London trading session (from 08:00 AM to 04:00 PM UTC) on the chart using a blue background, signaling when the high-volume, high-impulse moves tend to occur, helping traders focus their analysis on this key session.
Order Block Detection:
Identifies significant impulse moves that may form order blocks (supply and demand zones). Order blocks are areas where institutions have executed large orders, often leading to price reversals or continuation. The indicator plots the high and low of these order blocks, providing key levels to monitor for potential entries.
Imbalance (Fair Value Gap) Detection:
Detects and highlights price imbalances or fair value gaps (FVG) where the market has moved too quickly, creating a gap in price action. These areas are often revisited by price, offering potential trade opportunities. The upper and lower bounds of the imbalance are visually marked for easy reference.
Change of Character (CHoCH) Detection:
This feature identifies potential trend reversals by detecting significant changes in market character. When the price action shifts from bullish to bearish or vice versa, a CHoCH signal is triggered, and the corresponding level is marked on the chart. This can help traders catch trend reversals at key levels.
Fibonacci Retracement Levels:
The script calculates and plots the key Fibonacci retracement levels (0.618 and 0.786 by default) based on the highest and lowest points over a user-defined swing lookback period. These levels are commonly used by traders to identify potential pullback zones where price may reverse or find support/resistance.
Directional Bias Based on Market Structure:
The indicator provides a market structure analysis by comparing the current highs and lows to the previous periods' highs and lows. This helps in identifying whether the market is in a bullish or bearish state, providing a clear directional bias for trade setups.
Alerts:
The indicator comes with built-in alert conditions to notify the trader when an order block, imbalance, CHoCH, or other significant price action event is detected, ensuring timely action can be taken.
Ideal Usage:
Timeframe: Suitable for intraday trading, particularly focusing on the London session (08:00 AM to 04:00 PM UTC).
Currency Pair: Specifically designed for GBP/USD but can be adapted to other pairs with similar market behavior.
Trading Strategy: Best used in conjunction with a price action strategy, focusing on the key levels identified (order blocks, FVG, CHoCH) and using Fibonacci retracement levels for precision entries.
Target Audience: Ideal for traders who follow smart money concepts (SMC) and are looking for a structured approach to identify high-probability setups during the London session.
