MarketcapDefinition
This indicator was designed to reveal the relationship between the price of the product and its market value. The red average marketcap line that appears on the chart is the line. And the further up this line moves from the chart, the more it shows that there is a mismatch between the price and the market value. So what does this incompatibility mean? There are purchases of the product, but since the supply of the product into circulation is constantly increasing, it means that these purchases are not reflected in the price, which means there is inflation.
The main purpose of our indicator is to calculate inflation of the product. It is the understanding of whether or not the amount of supply put into circulation in response to the investment is reflected in the product price while increasing the market value.
Attention: Transactions are made based on the data received via CRYPTOCAP. In cases where this data cannot be received, the "UNSUPPORTED SOURCE" warning is displayed. You can use Settings to change the source from which data can be retrieved.
Labels
The labels are explained one by one below.
MARKETCAP: Shows the current market value.
ATH MARKETCAP: Shows the highest market value of all time.
MARKETCAP RATIO: It gives the ratio between the highest level and the lowest level of the market value.
PRICE RATIO: Gives the ratio between the highest level and the lowest level of the crypto price.
ALL INFLATION PERCENT: It refers to the percentage of all inflation that has developed so far. It is also the percentage difference between market value and price.
MONTHLY INFLATION PERCENT: It refers to the monthly estimated inflation percentage.
CIRCULATING SUPPLY: It refers to the estimated circulation supply of the product.
Best Use
It should bring to mind the idea that the further the indicator curve moves away from the price, the higher the inflation will be. In order for a product to reach its previous peak, its market value must normally increase by the "MARKETCAP RATIO" value and the "PRICE RATIO" value. This should make you think that this product needs more investment to reach its former peak. And it is necessary to be careful when purchasing such products.
Disclaimer
This indicator is for informational purposes only and should be used for educational purposes only. You may lose money if you rely on this to trade without additional information. Use at your own risk.
Version
v1.0
Educational
Convert Equity to Future SymbolThis is a super simple script, not intended to be used as a standalone script . This script contains a custom function that can convert an equity symbol into a future contract symbol.
You can embed this in your script if, for some reason, you want to convert your equity symbols into future contracts.
Note: This script is created especially for Indian equities. I am not aware of its use for other countries. Moreover, I do not think this script can work for equities other than those in India.
Get intraday extended dataIf you have interacted with Pine for some time, you probably noticed that if you are using DWM resolutions, you will not be able to obtain complete data from the extended intraday ticker using the usual functions request.security() and request.security_lower_tf(). This is quite logical if you understand the principle of mapping data from the secure context to the main one. The main reason is the different opening and closing times of the intraday data with extended clocks and DWM.
This script visualizes one of the approaches to solving this problem. I will briefly describe the principle of operation:
For example, take the symbol NASDAQ:AAPL.
Our main resolution is 1D, but we want to receive extended data from a 4-hour interval. The daytime bar opens at 09:30 and closes at 16:00. The same period at a resolution of 4 hours covers 4 bars:
04:00 - 08:00
08:00 - 12:00
12:00 - 16:00
16:00 - 20:00
So, if we use the request.security_lower_tf() function, we will not get the bars 04:00 - 08:00 and 16:00 - 20:00 because their closing times are not within the range of the main context (09:30 - 16:00).
If we use the request.security() function, we will get the bar 04:00 - 08:00, but we will not get the bar 16:00 - 20:00 because its closing time will be in the future, and it is impossible to get values from the future.
So, what I propose is to use the upgraded request.security() function, inside which another function will be executed, storing all the bars in a var array and putting the post-market bars in the array of the next day. Next, all we have to do is isolate these bars, place them in the previous array, and remove them from the current one.
I visualized the received data simply as text, but you can do it differently using the proposed mechanism.
In order for everything to work, you need to fill in the inputs correctly:
"Symbol for calculate" - This is the symbol from which we will receive extended data.
"Intraday data period" - The period from which we will receive extended data.
"Specify your chart timeframe here" - This is an input that allows you to operate with data from the main context while being inside the secure one. Enter your current chart timeframe here. If there are problems, a warning will appear informing you about this.
If you want to use these developments, take the get_data() function, it will return:
1. the number of past items - it is useful for outputting values in real time, because it is not possible to simply delete them there, because they will always arrive and it is easier to make a slice with an indentation for this number
2. cleared object of type Inner_data containing arrays of open, high, low, close, volume, time, time_close intraday data
3. its same value from the previous bar
Short Term FS PrivateShort Term FS
Fibonacci levels, derived from the famous Fibonacci sequence, are a powerful tool in technical analysis used to identify potential support and resistance levels in the market. The narrative of using Fibonacci levels involves understanding market psychology, price action, and strategic decision-making. Here’s how this narrative unfolds:
### The Foundation: Fibonacci Sequence
The story begins with Leonardo Fibonacci, an Italian mathematician, who introduced the Fibonacci sequence to the West in the 13th century. The sequence, where each number is the sum of the two preceding ones, generates ratios that traders use to predict price movements in financial markets. The most significant ratios are 23.6%, 38.2%, 50%, 61.8%, and 100%.
### Market Psychology and Fibonacci Retracement
Imagine a stock or a commodity experiencing a significant upward trend. Traders begin to wonder when and where the price will pull back before continuing its upward trajectory. This is where Fibonacci retracement levels come into play. By drawing Fibonacci levels from the recent low to the recent high, traders identify key areas where the price might find support during a pullback.
For example, a trader observes that a stock has risen from $100 to $150. By applying Fibonacci retracement, they identify potential support levels at $138.2 (23.6% retracement), $130.9 (38.2% retracement), $125 (50% retracement), and $119.1 (61.8% retracement). These levels represent areas where buying interest may resurface, based on historical price action and market psychology.
### The Pullback and Support
As the stock begins to pull back from $150, traders watch closely as the price approaches these Fibonacci levels. At the 38.2% retracement level, they notice increased buying activity, causing the price to stabilize and potentially reverse. This indicates that many traders are using the same Fibonacci levels to make their decisions, creating a self-fulfilling prophecy.
### Fibonacci Extensions: Predicting Future Movements
Fibonacci levels are not only used to predict retracements but also to anticipate future price extensions. When the price resumes its upward movement, traders use Fibonacci extension levels to identify potential resistance points. These levels, such as 161.8%, 200%, and 261.8%, help traders set profit targets and plan their exit strategies.
Continuing the narrative, the stock recovers from the 38.2% retracement level and begins to rise again. Traders use Fibonacci extension levels drawn from the pullback low to the previous high to project potential targets. The 161.8% extension level, for instance, provides a target of $175, giving traders a clear goal for their positions.
### Combining Fibonacci with Other Indicators
To strengthen their analysis, traders often combine Fibonacci levels with other technical indicators, such as moving averages, trend lines, and oscillators. This confluence of signals increases the probability of successful trades.
In our narrative, the trader notices that the 61.8% retracement level coincides with a 200-day moving average, adding further weight to this support level. This confluence gives the trader more confidence to enter a buy position at this level.
### Real-Life Scenario
Consider a real-life example of a trader using Fibonacci levels on a major index like the S&P 500. After a significant rally from 3,000 to 4,000, the index begins to pull back. By applying Fibonacci retracement, the trader identifies key levels at 3,764 (23.6%), 3,618 (38.2%), and 3,500 (50%).
As the S&P 500 approaches the 3,618 level, the trader sees increased buying activity, signaling a potential reversal. They decide to enter a long position, setting a stop-loss just below the 38.2% retracement level and a take-profit at the 161.8% extension level at 4,300.
### Conclusion: Mastering Fibonacci
The narrative of using Fibonacci levels is one of blending mathematical precision with market psychology. By understanding and applying these levels, traders gain insights into potential support and resistance areas, improving their chances of making profitable trades. Like any tool, Fibonacci levels are most effective when combined with other forms of analysis and a thorough understanding of market dynamics.
Notional Trade Table
Notional Trade Table indicator displays notional trade values for given Buy and Sell of given input of Symbol, Quantity, Entry Price and Stop Loss .
Sections of Input Menu Table are supported with Tool Tip icons.
Input Symbols:
(Refer Input Menu)
User can choose maximum 20 Symbols.
Input Side Choice (BUY/SELL):
(Refer Input Menu)
After choosing Symbol, User has to choose the BUY or SELL option for each Symbol against the corresponding Sybol number. If NIL is selected “Nil is selected ” message is displayed prompting the user to select BUY or SELL sides.
For example in the above Input Menu:
Sym1 is BATS:AAPL. Corresponding Side 1 is Sell1.
Sym2 is BATS:NVDA Corresponding Side 2 Sell 2.
Sym12 is BATS:NFLX. Corresponding Side 12 is Buy12 and so on.
Input Quantity:
(Refer Input Menu)
Next enter Corresponding Quantity of BUY or SELL in relevant Quantity Input Box. Quantity cannot be Zero. Defval is 1.
For Sym1 input in Qty 1 box,for Sym2 input in Qty 2 box and so on.
Input Entry Price:
(Refer Input Menu)
After entering Quantity Input Entry Price for Corresponding Symbol.
Input for Sym1 Entry Price in EP1 box
Input for Sym2 Entry Price in EP2 box
and so on.
Input Stop Loss:
(Refer Input Menu)
Next Enter corresponding Stop Loss for each Symbol.
SL1 input box denotes Sym1 Stop Loss.
SL2 input box denotes Sym2 Stop Loss.
SL3 input box denotes Sym3 Stop Loss and so on.
Stop Loss for Chosen BUY side should be below corresponding Entry Price/Last Price. Otherwise a message is displayed “SL Hit”. User has to enter valid data.
Stop Loss for Chosen SELL side should be above corresponding Entry Price/Last Price. Otherwise a message is displayed “SL Hit”. User has to enter valid data.
Notional Trade Table:
(Refer the Table on Chart)
From the input menu filled by User script captures the Symbol, BUY/SELL options, Quantity,
Entry Price and Stop Loss details under the corresponding heads in the Notional Trade Table.
The script captures the live Last traded Price under the head LP and calculates and displays corresponding Profit or Loss under PR/LO column in the table.
SL+- LP is the difference between Last traded Price (LP) and Stop Loss Price. Positive figure under this head reflects Stop Loss cushion available .
Nil header column reflects message “NIL selected” prompting the User to select BUY or SELL sides.
SLH header displays “SL Hit” on Stop Loss Hit or wrong input of Stop Loss inconsistent with BUY or SELL sides of Trade. On “SL Hit” message all values in corresponding Symbol becomes Zero. User has to re-enter the details fresh .
On the top left side corner of the table there are 2 cells with Prono and Lono.They denote the number of trades which are in Profit (Prono) and which are in Loss(Lono).
It is preferable to choose Symbols from a single country exchange commensurate with the Time zone. Otherwise if Exchange and Chart time Zone differs there is risk of data loss in the table.
DISCLAIMER: For educational and entertainment purpose only .Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security/ies or investment/s.
Fair Value Gaps Setup 01 [TradingFinder] FVG Absorption + CHoCH🔵 Introduction
🟣 Market Structures
Market structures exhibit a fractal and nested nature, which leads us to classify them into internal (minor) and external (major) categories. Definitions of market structure vary, with different methodologies such as Smart Money and ICT offering distinct interpretations.
To identify market structure, the initial step involves examining key highs and lows. An uptrend is characterized by successive highs and lows that are higher than their predecessors. Conversely, a downtrend is marked by successive lows and highs that are lower than their previous counterparts.
🟣 Market Trends and Movements
Market trends consist of two primary types of movements :
Impulsive Movements : These movements align with the main trend and are characterized by high strength and momentum.
Corrective Movements : These movements counter the main trend and are marked by lower strength and momentum.
🟣 Break of Structure (BOS)
In a downtrend, a Break of Structure (BOS) occurs when the price falls below the previous low and establishes a new low (LL). In an uptrend, a BOS, also known as a Market Structure Break (MSB), happens when the price rises above the last high.
To confirm a trend, at least one BOS is necessary, which requires the price to close at least one candle beyond the previous high or low.
🟣 Change of Character (CHOCH)
Change of Character (CHOCH) is a crucial concept in market structure analysis, indicating a shift in trend. A trend concludes with a CHOCH, also referred to as a Market Structure Shift (MSS).
For example, in a downtrend, the price continues to drop with BOS, showcasing the trend's strength. However, when the price rises and exceeds the last high, a CHOCH occurs, signaling a potential transition from a downtrend to an uptrend.
It is essential to note that a CHOCH does not immediately indicate a buy trade. Instead, it is prudent to wait for a BOS in the upward direction to confirm the uptrend. Unlike BOS, a CHOCH confirmation does not require a candle to close; merely breaking the previous high or low with the candle's wick is sufficient.
🟣 Spike | Inefficiency | Imbalance
All these terms mean fast price movement in the shortest possible time.
🟣 Fair Value Gap (FVG)
To pinpoint the "Fair Value Gap" (FVG) on a chart, a detailed candle-by-candle analysis is necessary. This process involves focusing on candles with substantial bodies and evaluating them in relation to the candles immediately before and after them.
Here are the steps :
Identify the Central Candle : Look for a candle with a large body.
Examine Adjacent Candles : The candles before and after this central candle should have long shadows, and their bodies must not overlap with the body of the central candle.
Determine the FVG Range : The distance between the shadows of the first and third candles defines the FVG range.
This method helps in accurately identifying the Fair Value Gap, which is crucial for understanding market inefficiencies and potential price movements.
🟣 Setup
This setup is based on Market Structure and FVG. After a change of character and the formation of FVG in the last lag of the price movement, we are looking for trading positions in the price pullback.
Bullish Setup :
Bearish Setup :
🔵 How to Use
After forming the setup, you can enter the trade using a pending order or after receiving confirmation. To increase the probability of success, you can adjust the pivot period market structure settings or modify the market movement coefficient in the formation leg of the FVG.
Bullish Setup :
Bearish Setup :
🔵 Setting
Pivot Period of Market Structure Detector :
This parameter allows you to configure the zigzag period based on pivots. Adjusting this helps in accurately detecting order blocks.
Show major Bullish ChoCh Lines :
You can toggle the visibility of the Demand Main Zone and "ChoCh" Origin, and customize their color as needed.
Show major Bearish ChoCh Lines :
Similar to the Demand Main Zone, you can control the visibility and color of the Supply Main Zone and "ChoCh" Origin.
FVG Detector Multiplier Factor :
This feature lets you adjust the size of the moves forming the Fair Value Gaps (FVGs) using the Average True Range (ATR). The default value is 1, suitable for identifying most setups. Adjust this value based on the specific symbol and market for optimal results.
FVG Validity Period :
This parameter defines the validity period of an FVG in terms of the number of candles. By default, an FVG remains valid for up to 15 candles, but you can adjust this period as needed.
Mitigation Level FVG :
This setting establishes the basic level of an FVG. When the price reaches this level, the FVG is considered mitigated.
Level in Low-Risk Zone :
This feature aims to reduce risk by dividing the FVG into two equal areas: "Premium" (upper area) and "Discount" (lower area). For lower risk, ensure that "Demand FVG" is in the "Discount" area and "Supply FVG" in the "Premium" area. This feature is off by default.
Show or Hide :
Given the potential abundance of setups, displaying all on the chart can be overwhelming. By default, only the last setup is shown, but you can enable the option to view all setups.
Alert Settings :
On / Off : Toggle alerts on or off.
Message Frequency : Determine how often alerts are triggered.
Options include :
"All" (alerts every time the function is called)
"Once Per Bar" (alerts only on the first call within the bar)
"Once Per Bar Close" (alerts only at the last script execution of the real-time bar upon closing)
The default setting is "Once Per Bar".
Show Alert Time by Time Zone : Set the alert time based on your preferred time zone, such as "UTC-4" for New York time. The default is "UTC".
Display More Info : Optionally show additional details like the price range of the order blocks and the date, hour, and minute in the alert message. Set this to "Off" if you prefer not to receive this information.
SLOPED Trailing SL with ATR-V1SLOPED Trailing SL with ATR
I thought capital is sometime locked for long periods s when volatility is low, hence:
SLOPED Trailing SL with ATR
This indicator provides a trailing stop loss that dynamically adjusts based on the Average True Range (ATR) and incorporates a user-defined upward slope on flat areas. It is designed to follow the price movement more closely during trends while allowing for a customizable slope to maintain a trailing stop even when the price movement is flat.
Key Features:
ATR-Based Stop Loss:
Utilizes the ATR to calculate a dynamic stop loss level, adjusting to market volatility.
Provides a normal ATR stop loss line that only trails upwards, preventing it from decreasing.
Upward Slope on Flat Areas:
Adds a user-defined upward slope to the trailing stop loss when the price movement is flat.
The slope value is specified in 1/1000 increments (e.g., 0.1% per bar), allowing for fine-tuned control.
Engulfing Pattern Alerts By PropFirm AlgoWe have now decided to make this indicator to support the trading community! If you find yourself struggling to identify bullish engulfing and bearish engulfing candles, this one is for you.
Release Notes:
Initial release with robust detection of bullish and bearish engulfing patterns.
Added trend and volume filters for enhanced pattern accuracy.
Custom alerts for real-time notifications of potential trading opportunities.
Appendix 1 - Example Case of Use For Educational Study.
Appendix 2 - Technical description which focuses on explaining the functionality of the script, how the code works, and how it can be used by traders, providing further immediate insight value.
Appendix 1:
This indicator will provide you with Two types Bullish and Bearish Engulfing Alerts.
The Regular Bullish and Bearish Engulfing Candle's Shown As
Bullish Engulfing ︽
Bearish Engulfing ︾
And the Filtered Bullish and Bearish Engulfing Candle Shown As
Filtered Bullish Engulfing ⇡
Filtered Bearish Engulfing ⇣
You can also change the Alert Symbol to any text, symbol or emoji of choice in the Setting Style Panel . This allows you to customize the alert symbol style to your liking, Example....
Using the power of artificial intelligence, we coded this indicator based on technical descriptions to perfect this simple problem.
Use this tool together with different strategies as a confirmation to your trading bias.
Use Supply and Demand Zones together with the Engulfing Pattern Alerts
First, Verify if the bullish engulfing candle is at the end of a dying trend.
Secondly, Check if it’s at a major 1-hour, 4-hour, or daily support and resistance zone.
Then wait for the retest, then enter a position.
DON’T USE THE ENGULFING ALERT AS A POINT OF ENTRY, OR WHILE MARKETS ARE CONSOLIDATING nor in the middle of an active trend.
Now for the second most used method:
Use The Fibonacci together with the Engulfing Pattern Alerts
First, Identify an impulse candle that creates a new trend in the market.
Then Draw out your Fibonacci tool from the start of the candle to the end of the impulse leg where rejection is shown.
Wait for the price to retrace to the 61.8 retracement and use the engulfing candle as a second confirmation.
And lastly, wait for the price to retest the fib level showing signs of rejection, then enter.
Appendix 2:
Technical Description:
The "Engulfing Pattern Alerts By PropFirm Algo" script is a sophisticated tool designed to identify and alert traders of potential bullish and bearish engulfing patterns in the market, enhanced by trend and volume filters for improved accuracy. This script helps traders spot potential trend reversals by analyzing candlestick patterns in conjunction with volume data and moving averages.
Key Features:
Bullish Engulfing Pattern Detection: Identifies when a smaller bearish candle is followed by a larger bullish candle, indicating potential upward price movement.
Bearish Engulfing Pattern Detection: Identifies when a smaller bullish candle is followed by a larger bearish candle, indicating potential downward price movement.
Volume Filter: Enhances pattern reliability by ensuring the identified pattern is accompanied by a significant volume increase.
Trend Filter: Utilizes Simple Moving Averages (SMA) to filter patterns based on the prevailing market trend, reducing false signals on the "Filtered Engulfing Alerts" Setting.
Custom Alerts: Configurable alerts for both bullish and bearish engulfing patterns, allowing traders to stay informed in real-time.
How It Works:
Bullish Engulfing Pattern:
Detected when the body of the current candle completely engulfs the body of the previous candle.
Confirmed if the current candle closes higher than it opens, and the previous candle closes lower than it opens.
Volume on the current candle must be greater than the previous candle.
Bearish Engulfing Pattern:
Detected when the body of the current candle completely engulfs the body of the previous candle.
Confirmed if the current candle closes lower than it opens, and the previous candle closes higher than it opens.
Volume on the current candle must be greater than the previous candle.
Trend Filter:
Uses moving averages to determine the market trend.
Bullish patterns are only considered in downtrends.
Bearish patterns are only considered in uptrends.
Alerts:
Alerts can be set up for both bullish and bearish patterns, ensuring you are notified when significant market movements are detected.
How to Use:
Add the script to your chart.
Configure the alert settings according to your trading preferences.
Monitor your chart for plotted symbols indicating potential bullish (︽) and bearish (︾) engulfing patterns.
Utilize the alert conditions to get notified when these patterns occur.
Average SL% Calculator with TP Levels by GorkiAverage Stop Loss And Take Profit Calculator For Futures Trading by Gorki
Description
The "Average SL% Calculator with TP Levels" script, is a simple tool for traders to plan the trades and check how much loss they are going to receive if they run this strategy. This script calculates the average price of up to four entry points, determines the percentage distance to the stop-loss level, and provides potential loss information based on margin and leverage. Additionally, it includes multiple take-profit levels to help traders systematically capture profits. Visual elements such as horizontal lines and labels make it easy to monitor key levels directly on the chart.
Why To Use This Indicator?
Risk Management: Automatically calculates the percentage distance to the stop-loss level, helping you to understand potential losses.
Profit Optimization: Supports up to four take-profit levels, enabling a structured approach to capturing gains.
Visual Clarity: Displays key levels and important information directly on the chart for easy monitoring.
Alerts: Generates alerts when the price crosses specified levels, ensuring you never miss critical trading signals.
How to Use the Script
Add the Script to Your Chart: Apply the script to your TradingView chart.
Set Input Values: Entry Points: Define up to four limit prices (LIMIT 1, LIMIT 2, LIMIT 3, LIMIT 4).
Stop-Loss: Set your stop-loss price (STOP LOSS).
Take Profits: Specify up to four take-profit levels (Take Profit 1, Take Profit 2, Take Profit 3, Take Profit 4).
Leverage: Input your leverage factor.
Margin: Enter the total margin amount for the trade.
View Calculations: The script will calculate the average entry price, the percentage distance to the stop-loss, and the potential loss based on margin and leverage.
Monitor Levels: Horizontal lines and labels will appear on the chart, showing entry points, stop-loss, and take-profit levels.
Set Alerts: Alerts will trigger when the price crosses your defined levels, helping you to take timely action.
Calculation Details
Average Price: Calculated as the mean of the specified limit prices.
Distance to Stop-Loss: Determined as the percentage difference between the average price and the stop-loss level.
Leveraged Distance: The stop-loss distance percentage multiplied by the leverage factor.
Potential Loss: Calculated by applying the leveraged distance percentage to the margin amount.
Take Profit Percentages: The percentage difference between the average price and each take-profit level.
This comprehensive indicator is a must-have for any trader looking to manage risks effectively while maximizing potential profits. Happy trading!
CARNAC Trading Support and Resistance LevelsOverview
The "Carnac Trading Support and Resistance Levels" indicator is a powerful tool designed to help traders identify key support and resistance levels across multiple timeframes. This tool enhances trading strategies by visually marking significant price levels and providing configurable stop-loss and alert features.
Features
Support and Resistance Levels: Automatically calculates and plots support and resistance levels for the following timeframes:
5 minutes (5M)
10 minutes (10M)
15 minutes (15M)
30 minutes (30M)
1 hour (1H)
2 hours (2H)
4 hours (4H)
6 hours (6H)
12 hours (12H)
1 day (1D)
1 week (1W)
1 month (1M)
Configurable Stop-Loss (SL) Levels: Adds a stop-loss line below each support level and above each resistance level with customizable padding (as a percentage).
Visual Labels: Clearly labels support, resistance, and stop-loss levels with the corresponding prices and timeframes for easy identification.
Line Customization:
Support Levels: Green lines with varying thickness based on the timeframe.
Resistance Levels: Red lines with varying thickness based on the timeframe.
Stop-Loss Levels: Gray dotted lines for clear distinction.
Alerts: Alerts trigger when the price gets to a configurable percentage from the support or resistance levels, helping you stay informed about potential buying and selling opportunities.
Visibility Toggling: Easily toggle the visibility of support and resistance levels for each timeframe (default enabled for 2H, 4H, and 1D).
How to Use
Add the Indicator:
Navigate to the TradingView Pine Editor.
Paste the provided Pine Script code and click "Add to Chart."
Configure Inputs:
Lookback Periods: Adjust the lookback periods for each timeframe to suit your analysis needs.
Padding Percentage: Set the padding percentage for the stop-loss levels to define the distance below the support levels and above the resistance levels.
Visibility: Toggle the visibility of the support and resistance levels for each timeframe as needed (default enabled for 2H, 4H, and 1D).
Alert Trigger Distance: Set the alert trigger distance as a percentage to determine when the alerts should be triggered.
Interpret the Plotted Levels:
Green Lines: Indicate support levels for the respective timeframes.
Red Lines: Indicate resistance levels for the respective timeframes.
Gray Dotted Lines: Represent the stop-loss levels below each support level and above each resistance level, with the specified padding.
Labels: Provide clear indications of the price levels and their respective timeframes in white text for visibility.
Identifying Buying and Selling Opportunities:
Buying Opportunities:
Look for the price to approach or bounce off a support level (green line).
Confirm the potential for a reversal by checking if the price is nearing a key support level from multiple timeframes.
Use the stop-loss level (gray dotted line) to set your stop-loss order below the support level to minimize risk.
Selling Opportunities:
Look for the price to approach or get rejected at a resistance level (red line).
Confirm the potential for a reversal by checking if the price is nearing a key resistance level from multiple timeframes.
Use the stop-loss level (gray dotted line) to set your stop-loss order above the resistance level to minimize risk.
Alerts:
Alerts will notify you when the price gets within the specified percentage distance from each support or resistance level.
Use these alerts to stay informed about potential buying and selling opportunities.
Auto Gann KEYLVLS "Auto Gann KEYLVLS" indicator can be a valuable tool for traders, especially those who employ Gann theory in their analysis. Here are some ways to effectively use this indicator:
Identifying Key Price Levels: Gann lines are known for their ability to identify key support and resistance levels. Use the plotted Gann lines to identify significant price levels where the market may react.
Confirmation of Trend Reversals: When price approaches a Gann line, observe how the price reacts. A bounce off a Gann line can confirm the continuation of the trend, while a break of a Gann line may indicate a potential trend reversal.
Entry and Exit Points: Gann lines can serve as entry and exit points for trades. Look for confluence between Gann lines and other technical indicators or patterns to identify high-probability trade setups.
Trading with the Trend: In an uptrend, consider buying opportunities near Gann support levels, while in a downtrend, look for selling opportunities near Gann resistance levels.
Risk Management: Use Gann lines to set stop-loss and take-profit levels. Place stop-loss orders below Gann support levels for long trades and above Gann resistance levels for short trades to manage risk effectively.
Timeframe Analysis: Utilize the flexibility of this indicator to plot Gann lines on different timeframes. Compare Gann lines across multiple timeframes to identify alignment or divergence, which can provide additional confirmation for trading decisions.
Combination with Other Indicators: Combine the information provided by Gann lines with other technical indicators, such as moving averages, RSI, or MACD, to strengthen your trading decisions.
Input Parameters:
The script defines several input parameters that control the behavior of the Gann lines, such as the number of weeks to look back for highs and lows, the number of Gann lines to plot, line extension settings, and options to show or hide specific Gann lines like .25, .37, .50, .63, and .75.
Auto Gann Functionality:
The script calculates the highest high and lowest low for the specified number of weeks, hours, and minutes.
It then calculates quartile levels (0.25, 0.50, 0.75) based on the weekly high and low.
Gann lines are drawn based on these levels, with options to extend them left and/or right.
Labels are added to the Gann lines indicating their values.
Weekly Gann Lines:
The script plots Gann lines and labels based on the weekly high and low levels.
Labels are added to these lines indicating their values.
Sub Gann Lines:
Additional Gann lines are plotted based on the weekly high and low levels, with subdivisions for lower timeframes like H4, H1, M15, and M1.
Label Management:
Labels are managed based on user preferences, including options to show labels once on the left side, redraw labels on the right side, or not show labels at all.
stockexploderits just for identifying moving average crossover 20 and 50 to identify trend in stocks
easily without taking much time
Multiple Oscillator Conditions Final [siulian] v2This tool is created to gather multiple oscilators condition under the same umbrela and back-test your idea.
Basically the only intention of this tool is to used in combination with a back-tester indicator ( or manually ) where you get the entry based on the cumulative signals provided by this tool.
For example you can to combine RSI , MACD, CCI, Keltner Channels or whatever indicator you think it might give you an edge for an entry signal.
You can combine up to 7 indicators either by comparing them with a static value or with another indicator (for example you can compare RSI with RSI MA, Volume with Volume MA, etc)
There are two lines which will be printed.
1) Result(blue line) - it will print 1 when all the condition are met ( the same can be used for back-testing tools)
2) Condition Met count(yellow line) - which will count how many conditions from the ones selected are triggered ( for example you have 6 indicators that are matching the conditions and you still want to take a trade even if the condition number 7 is not met)
Alarms can be setup to check if more than defined conditions are present.
As a demo in the above image i have put several condition in order to possible catch bottoms.
Please understand this is just an example on how to integrate multiple condition into a single entity and should not be used as is.
1) price should close below KC
2) CCI < - 100
3) RSI < 30
4) Vol > Vol MA
Past performance do not guarantee future performance.
Liquidity Hour by Ibramiho v2Liquidity Hour by Ibramiho (Version 2) - Identify High-Potential Reversal Zones
Understanding the pre-New York session hour is crucial for institutional traders. This period is often characterized by increased liquidity and price volatility as major financial players prepare for the upcoming trading day. The Liquidity Hour indicator capitalizes on this phenomenon, automatically pinpointing the candle (by default, in orange) immediately before the New York session opens.
Why Focus on This Candle?
Liquidity Magnet: Institutional traders often use this hour to establish or adjust positions, creating pockets of liquidity.
Breakout and Retracement Potential: The indicator helps you spot potential areas where price might retrace after a breakout, offering high-probability trading opportunities.
Visual Clarity: The highlighted candle acts as a visual anchor, making it easy to identify these key levels on your chart.
How It Works
1. Automatic Detection: The indicator intelligently detects the pre-New York session candle, regardless of your chart's timeframe.
2. Colour Coding: The candle is highlighted in orange (customizable), instantly drawing your attention.
3. Trade Insights: Watch for price breakouts above or below the highlighted candle. When price retraces back to this level, it signals a potential entry or exit point.
Key Features
Customizable Colour: Change the highlight colour to suit your chart preferences.
Working Timeframes: Works on timeframes, from minutes up to 2 hours timeframe.
Versatile Trading: Suitable for both intraday and swing trading strategies.
Unlock the Power of Institutional Liquidity
Don't miss out on the opportunities that arise in the hour before the New York session. With the Liquidity Hour indicator, you'll gain a valuable edge by identifying key levels where price action is most likely to reverse.
Stock Rating [TrendX_]# OVERVIEW
This Stock Rating indicator provides a thorough evaluation of a company (NON-FINANCIAL ONLY) ranging from 0 to 5. The rating is the average of six core financial metrics: efficiency, profitability, liquidity, solvency, valuation, and technical ratings. Each metric encompasses several financial measurements to ensure a robust and holistic evaluation of the stock.
## EFFICIENCY METRICS
1. Asset-to-Liability Ratio : Measures a company's ability to cover its liabilities with its assets.
2. Equity-to-Liability Ratio : Indicates the proportion of equity used to finance the company relative to liabilities.
3. Net Margin : Shows the percentage of revenue that translates into profit.
4. Operating Expense : Reflects the costs required for normal business operations.
5. Operating Expense Ratio : Compares operating expenses to total revenue.
6. Operating Profit Ratio : Measures operating profit as a percentage of revenue.
7. PE to Industry Relative PE/PB : Compares the company's PE ratio to the industry average.
## PROFITABILITY METRICS
1. ROA : Indicates how efficiently a company uses its assets to generate profit.
2. ROE : Measures profitability relative to shareholders' equity.
3. EBITDA : Reflects a company's operational profitability.
4. Free Cash Flow Margin : Shows the percentage of revenue that remains as free cash flow.
5. Revenue Growth : Measures the percentage increase in revenue over a period.
6. Gross Margin : Reflects the percentage of revenue exceeding the cost of goods sold.
7. Net Margin : Percentage of revenue that is net profit.
8. Operating Margin : Measures the percentage of revenue that is operating profit.
## LIQUIDITY METRICS
1. Current Ratio : Indicates the ability to cover short-term obligations with short-term assets.
2. Interest Coverage Ratio : Measures the ability to pay interest on outstanding debt.
3. Debt-to-EBITDA : Compares total debt to EBITDA.
4. Debt-to-Equity Ratio : Indicates the relative proportion of debt and equity financing.
## SOLVENCY METRICS
1. Altman Z-score : Predicts bankruptcy risk
2. Beneish M-score : Detects earnings manipulation.
3. Fulmer H-factor : Predicts business failure risk.
## VALUATION METRICS
1. Industry Relative PE/PB Comparison : Compares the company's PE and PB ratios to industry averages.
2. Momentum of PE, PB, and EV/EBITDA Multiples : Tracks the trends of PE, PB, and EV/EBITDA ratios over time.
## TECHNICAL METRICS
1. Relative Strength Index (RSI) : Measures the speed and change of price movements.
2. Supertrend : Trend-following indicator that identifies market trends.
3. Moving Average Golden-Cross : Occurs when a short-term MA crosses above mid-term and long-term MA which are determined by half-PI increment in smoothing period.
4. On-Balance Volume Golden-Cross : Measures cumulative buying and selling pressure.
Bitcoin Futures vs. Spot Tri-Frame - Strategy [presentTrading]Prove idea with a backtest is always true for trading.
I developed and open-sourced it as an educational material for crypto traders to understand that the futures and spot spread may be effective but not be as effective as they might think. It serves as an indicator of sentiment rather than a reliable predictor of market trends over certain periods. It is better suited for specific trading environments, which require further research.
█ Introduction and How it is Different
The "Bitcoin Futures vs. Spot Tri-Frame Strategy" utilizes three different timeframes to calculate the Z-Score of the spread between BTC futures and spot prices on Binance and OKX exchanges. The strategy executes long or short trades based on composite Z-Score conditions across the three timeframes.
The spread refers to the difference in price between BTC futures and BTC spot prices, calculated by taking a weighted average of futures prices from multiple exchanges (Binance and OKX) and subtracting a weighted average of spot prices from the same exchanges.
BTCUSD 1D L/S Performance
█ Strategy, How It Works: Detailed Explanation
🔶 Calculation of the Spread
The spread is the difference in price between BTC futures and BTC spot prices. The strategy calculates the spread by taking a weighted average of futures prices from multiple exchanges (Binance and OKX) and subtracting a weighted average of spot prices from the same exchanges. This spread serves as the primary metric for identifying trading opportunities.
Spread = Weighted Average Futures Price - Weighted Average Spot Price
🔶 Z-Score Calculation
The Z-Score measures how many standard deviations the current spread is from its historical mean. This is calculated for each timeframe as follows:
Spread Mean_tf = SMA(Spread_tf, longTermSMA)
Spread StdDev_tf = STDEV(Spread_tf, longTermSMA)
Z-Score_tf = (Spread_tf - Spread Mean_tf) / Spread StdDev_tf
Local performance
🔶 Composite Entry Conditions
The strategy triggers long and short entries based on composite Z-Score conditions across all three timeframes:
- Long Condition: All three Z-Scores must be greater than the long entry threshold.
Long Condition = (Z-Score_tf1 > zScoreLongEntryThreshold) and (Z-Score_tf2 > zScoreLongEntryThreshold) and (Z-Score_tf3 > zScoreLongEntryThreshold)
- Short Condition: All three Z-Scores must be less than the short entry threshold.
Short Condition = (Z-Score_tf1 < zScoreShortEntryThreshold) and (Z-Score_tf2 < zScoreShortEntryThreshold) and (Z-Score_tf3 < zScoreShortEntryThreshold)
█ Trade Direction
The strategy allows the user to specify the trading direction:
- Long: Only long trades are executed.
- Short: Only short trades are executed.
- Both: Both long and short trades are executed based on the Z-Score conditions.
█ Usage
The strategy can be applied to BTC or Crypto trading on major exchanges like Binance and OKX. By leveraging discrepancies between futures and spot prices, traders can exploit market inefficiencies. This strategy is suitable for traders who prefer a statistical approach and want to diversify their timeframes to validate signals.
█ Default Settings
- Input TF 1 (60 minutes): Sets the first timeframe for Z-Score calculation.
- Input TF 2 (120 minutes): Sets the second timeframe for Z-Score calculation.
- Input TF 3 (180 minutes): Sets the third timeframe for Z-Score calculation.
- Long Entry Z-Score Threshold (3): Defines the threshold above which a long trade is triggered.
- Short Entry Z-Score Threshold (-3): Defines the threshold below which a short trade is triggered.
- Long-Term SMA Period (100): The period used to calculate the simple moving average for the spread.
- Use Hold Days (true): Enables holding trades for a specified number of days.
- Hold Days (5): Number of days to hold the trade before exiting.
- TPSL Condition (None): Defines the conditions for taking profit and stop loss.
- Take Profit (%) (30.0): The percentage at which the trade will take profit.
- Stop Loss (%) (20.0): The percentage at which the trade will stop loss.
By fine-tuning these settings, traders can optimize the strategy to suit their risk tolerance and trading style, enhancing overall performance.
HTF Descending TriangleHTF Descending Triangle aims at detecting descending triangles using higher time frame data, without repainting nor misalignment issues.
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 descending triangle on the chart.
It supports alerting when a detection occurs.
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 low factor detection criteria to apply on higher time frame bars low as a proportion of the distance between the reference bar 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
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.
Valid Bars Minimum field: Sets minimum number of consecutive valid higher time frame bars to fit the pattern criteria.
Low Factor checkbox: Turns on/off low factor detection criteria.
Low Factor field: Sets low factor to apply on higher time frame bars low as a proportion of the distance between the reference bar low and open/close.
Adjust Triangle checkbox: Turns on/off triangle adjustment using highest/lowest values within valid higher time frame bars.
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:
High must be lower than previous bar.
Open/close min value must be higher than reference bar low.
When low factor criteria is turned on, low must be lower than reference bar open/close min value minus low factor proportion of the distance between reference bar low and open/close min value.
Volatility DashboardThis indicator calculates and displays volatility metrics for a specified number of bars (rolling window) on a TradingView chart. It can be customized to display information in English or Thai and can position the dashboard at various locations on the chart.
Inputs
Language: Users can choose between English ("ENG") and Thai ("TH") for the dashboard's language.
Dashboard Position: Users can specify where the dashboard should appear on the chart. Options include various positions such as "Bottom Right", "Top Center", etc.
Calculation Method: Currently, the script supports "High-Low" for volatility calculation. This method calculates the difference between the highest and lowest prices within a specified timeframe.
Bars: Number of bars used to calculate the volatility.
Display Logic
Fills the islast_vol_points array with the calculated volatility points.
Sets the table cells with headers and corresponding values:
=> Highest Volatility: The maximum value in the islast_vol_points array
=> Mean Volatility: The average value in the islast_vol_points array,
=> Lowest Volatility: The minimum value in the islast_vol_points array, Number of Bars: The rolling window size.
Leading MACDThe Moving Average Convergence Divergence (MACD) indicator is one of the most popular and versatile tools used by traders to identify potential buy and sell signals. It helps traders determine the strength and direction of a trend by comparing different moving averages of a security's price. The traditional MACD uses two exponential moving averages (EMAs), a fast EMA (typically 12 periods) and a slow EMA (typically 26 periods), along with a signal line (typically a 9-period EMA of the MACD line) to generate trading signals.
Our "Custom MACD with Leading Length" script for TradingView enhances the traditional MACD by introducing an additional smoothing factor called the "leading length." This customization aims to reduce noise and provide a potentially earlier indication of trend changes, making it a valuable tool for traders seeking to optimize their trading strategies.
- **Purpose:** This additional smoothing factor is designed to reduce noise and provide a potentially leading signal, enhancing the accuracy of trend identification.
## How It Works
1. **Calculate the MACD Line:**
The MACD line is calculated by subtracting the slow EMA from the fast EMA. This difference represents the convergence or divergence between the two EMAs.
2. **Calculate the Signal Line:**
The signal line is an EMA of the MACD line. This additional smoothing helps to generate clearer buy and sell signals based on crossovers with the MACD line.
3. **Calculate the Histogram:**
The histogram represents the difference between the MACD line and the signal line. It visually indicates the strength and direction of the trend. A positive histogram suggests a bullish trend, while a negative histogram indicates a bearish trend.
4. **Apply Leading Length Smoothing:**
To incorporate the leading length, the script applies a simple moving average (SMA) to both the MACD and signal lines using the leading length parameter. This additional smoothing helps to further reduce noise and potentially provides earlier signals of trend changes.
## Benefits of the Leading MACD
### Reduced Noise
The leading length parameter adds an extra layer of smoothing to the MACD and signal lines, helping to filter out market noise. This can be particularly beneficial in volatile markets, where frequent price fluctuations can generate false signals.
### Potential Early Signals
By smoothing the MACD and signal lines, the leading length can help to provide earlier indications of trend changes. This can give traders a potential edge in entering or exiting trades before the broader market reacts.
### Enhanced Trend Identification
The combination of the traditional MACD with the leading length smoothing can enhance the accuracy of trend identification. Traders can use this tool to confirm the strength and direction of trends, making it easier to make informed trading decisions.
### Versatility
The Custom MACD with Leading Length can be applied to various timeframes and asset classes, including stocks, forex, commodities, and cryptocurrencies. Its adaptability makes it a valuable tool for traders with different strategies and preferences.
## Practical Applications
### Buy Signal
A typical buy signal occurs when the MACD line crosses above the signal line. With the additional smoothing provided by the leading length, traders might receive this signal slightly earlier, allowing them to enter a long position sooner. This can be particularly advantageous in capturing the beginning of a bullish trend.
### Sell Signal
Conversely, a sell signal is generated when the MACD line crosses below the signal line. The leading length smoothing can help to provide this signal earlier, enabling traders to exit a long position or enter a short position before the trend reversal is fully recognized by the market.
### Divergence Analysis
Traders can also use the Custom MACD with Leading Length for divergence analysis. Bullish divergence occurs when the price makes a new low, but the MACD line forms a higher low. This suggests that the downward momentum is weakening, potentially leading to a bullish reversal. Bearish divergence is the opposite, where the price makes a new high, but the MACD line forms a lower high, indicating a potential bearish reversal.
### Confirmation Tool
The Custom MACD with Leading Length can be used in conjunction with other technical indicators to confirm trading signals. For example, traders might use it alongside support and resistance levels, trendlines, or other momentum indicators to validate their trade entries and exits.
## Conclusion
The Custom MACD with Leading Length is a powerful enhancement of the traditional MACD indicator. By introducing an additional smoothing factor, it aims to reduce noise and provide earlier signals of trend changes. This makes it a valuable tool for traders seeking to improve their market analysis and trading strategies.
Whether you are a day trader, swing trader, or long-term investor, the Custom MACD with Leading Length can help you make more informed decisions by offering clearer insights into market trends. Its adaptability to different timeframes and asset classes further enhances its utility, making it a versatile addition to any trader's toolkit.
Experiment with the parameters to find the optimal settings that suit your trading style and preferences. Use the Custom MACD with Leading Length to gain a deeper understanding of market dynamics and enhance your trading performance.
Precision Strike Entry [PSE]This tool, known as Precision Strike Entry (PSE) , automatically generates Fibonacci Retracement Levels on any chart. More specifically, it scans for continuation and reversal trades based on two inputs and provides exact entry, exit ( Stop Loss ), and Take Profit levels.
Precision Strike Entry can be used for both Crypto and Forex markets.
A crucial aspect is adjusting the " Trading Mode " length to identify the correct extreme points or Custom Pivot Period Lookback. Unlike manually drawn Fibonacci levels, which remain static, the tool adjusts its levels dynamically when the chart's time frame changes.
Trading Mode Options:
Custom – To set manually Pivot Period Lookback
Scalper - Recommended for 5-15 min timeframes
Normal - Recommended for 15 min-2h timeframes
Swing - Recommended for 2h-4h timeframes
Unique to this tool is that the user can filter specific conditions before the Fibonacci is drawn on the chart. Additionally, it provides exact entry, stop loss, and Take Profit levels.
The identification of possible Fibonacci Retracement happens using two trigger techniques:
1-2 Setup and Trendline Break identification.
--> Using the 1-2 Setup identification, the indicator attempts to identify the next wave for point 3 using Fibonacci retracement rules.
--> Using the TrendLine breakout filter, the indicator will try to identify a possible pullback entry, utilizing Fibonacci retracement.
The indicator has been designed for bot processes, meaning it will not identify a short trade until you are in a long position and vice versa. Every trade ends with a custom breakeven at TP5 or hitting Stop Loss. When a trade ends/closes, the indicator will automatically search for a new long/short opportunity.
Since every symbol (Pair/Coin) has different conformations and pivots, not all pivot period parameters are perfect for every pair and timeframe. This is why the indicator gives you the opportunity to find the best pivot period for every combination of pair/timeframe, thanks to the Tuning Dashboard .
For example, for APE/USDT.P, by adjusting the 1-2 Setup & TrendLine Pivot Period Lookback settings, you can find a good setting with 1-2 Setup pivots set to 14, and TrendLine Breakout set to 15. The indicator checks the past 1000 bars and historical trades to provide an overview of what happened during the past 1000 bars.
In this case, the total number of trades was 145, and only 35 trades (24% of total trades) hit the Stop Loss without hitting at least TP1. TP1 was hit 110 times (75.75% of trades), TP2 65 times, etc.
This summary table also provides an indication of which pivot period setting is best for a specific pair/time frame combination. It offers statistical insights on how Take Profits were hit, giving you more confidence in how much of your position you will sell for each Take Profit level.
Pivot period settings for 1-2 Setup & Trend Line Breakout identification can be modified in the indicator parameters when the Trading Mode is set to Custom. There is also an extra parameter for filtering Long/Short ( Buy and Sell ) signals based on trend, identified using two EMAs (Moving Averages) with periods of 74 and 144.
Within the settings, you can also set Stop Loss and Breakeven settings as you prefer.
Default settings are:
TP1 Breakeven Level to Entry (possible values: Entry - DCA Entry - StopLoss)
TP2 Breakeven Level to TP1 (possible values: Entry - TP1 - StopLoss)
Breakeven Trigger: Use Close/Open of candles
Stoploss Trigger: Use Close/Open of candles
The indicator settings also include some visual settings to adapt the indicator based on the template you are using for your trading view charts for the best experience.
Alert Settings:
Precision Strike Entry (PSE) is designed to integrate with third-party bot systems
You can set three different alert modes:
TradingView Alert : You will receive classic TradingView alerts with messages indicating the desired alert, like Open Long (BUY), StopLoss Hit, Breakeven, and TakeProfits trigger alerts. (You will receive only the selected alerts from the list.)
Bot Alert : You will receive alerts only for Create Trade or Close Trade with the string of your UUID (you have to fill them in related to your Bot indication) and remember to set the Webhook setting to ensure the alert triggers on your Bot. When you use Bot Alert, you have to set the indicator Signal Type related to your Bot settings. NB: If you have created a TradingView Bot for Long Position, you will have to choose Signal Type = Long in the indicator settings.
Free Text Trade Alert : Using this setting, you will receive alerts only for Open Trade Long or Short. All information about Stop Loss and Take Profits is integrated into the Free Text Template.
Explanation for possible Fibonacci Retracement identification:
1-2 Setup identification:
Trend Line Breakout Pullback Identification:
ICT Setup 01 [TradingFinder] FVG + Liquidity Sweeps/Hunt Alerts🔵 Introduction
The ICT (Inner Circle Trader) style of trading involves analyzing the behavior of market participants and market makers to identify areas where fake buy and sell activities occur. This trading style helps retail traders align with market maker behavior and avoid falling into market traps.
A key aspect of the ICT strategy is focusing on liquidity hunts. This involves searching for trading opportunities in areas of the market with low liquidity or where other traders have little activity. The ICT method leverages market inefficiencies and weaknesses, allowing traders to profit from small price movements that might go unnoticed by others.
In "ICT Setup 01," our focus is on these liquidity areas and stop hunts that form in Fair Value Gaps (FVGs). Trading within FVGs, combined with confirmations from "Hunts" and "Sweeps," can enhance trader performance.
🔵 How to Use
The presence of Fair Value Gaps (FVGs) in the market indicates rapid, powerful movements likely caused by the influx of smart money. When the price returns to these levels, a market reaction is expected.
Combining this with the complex and deceptive behavior of smart money—such as "Liquidity Sweeps" and "Stop Hunts"—forms an ICT-based price action setup that we expect to perform well.
Components of "ICT Setup 01" :
● Fair Value Gap (FVG)
● Premium and Discount
● Hunts / Sweeps
Whenever the price returns to an FVG area and reacts in such a way that only the wicks of the candles remain in the area and the candle bodies are outside the FVG, the first condition for creating the setup is met.
If subsequent candles hunt the wick that has penetrated the deepest into the FVG, a buy or sell signal is issued. In the format where hunting is based on Sweeps, penetrations that extend even outside the area are considered signals, provided they do not form a body within the area.
Additionally, a refining system exists for cases where a candle body forms in the area, optimizing the proximal levels of the FVG.
Bullish Setup :
Bearish Setup :
🔵 Features and Settings of "ICT Setup 01"
You can Find out more in Setting :
● FVG Detector Multiplier Factor
● FVG Validity Period
● Level in Low-Risk Zone
● Issuing Signals Method
● Number of Signals Allowed from a Zone
● Signal after Hunts/Sweeps
● How Many Hunts/Sweeps
● Show or Hide
● Alert Sender
FVG Detector Multiplier Factor :
This feature allows you to determine the size of the moves forming the FVGs based on the ATR (Average True Range). The default value is 1 to identify the majority of setups. You can increase this value according to the symbol and market you are trading in to achieve better results.
FVG Validity Period :
This shows the validity period of an FVG based on the number of candles. By default, an FVG area is valid for up to 15 candles. However, you can increase or decrease this period.
Level in Low-Risk Zone :
This feature helps reduce your risk. The method works by identifying the entire length of the three candles forming the FVG and dividing it into two equal areas. The upper area is "Premium," and the lower area is "Discount." To reduce risk, it is better for "Demand FVG" to be in the "Discount" and "Supply FVG" in the "Premium." This feature is off by default.
Issuing Signals Method :
This feature allows you to specify whether the hunt should occur only within the FVG area or if the wicks can extend outside the area.
If set to "Hunts," only signals where the wicks are within the area are issued, and the area loses its validity if the wicks extend outside.
In "Sweeps" mode, wicks can extend outside the area as long as they do not form a body within the area.
Number of Signals Allowed from a Zone :
This feature allows you to specify how many valid signals can be issued from one area.
Signal after Hunts/Sweeps :
In markets or symbols with a tendency for frequent stop hunts, this feature allows you to specify how many hunts should occur before you receive a signal to avoid receiving potentially failed signals.
How Many Hunts/Sweeps :
Enter the number of hunts you want to set for the "Signal after Hunts/Sweeps" feature here.
Show or Hide :
The number of setups formed may be very large, and displaying all of them on the chart can be distracting and messy. By default, only the last setup is displayed, but if you want to see all setups, you can turn on the relevant options.
Alert Sender :
You cannot constantly monitor multiple charts to identify trading opportunities. Using the alert sending feature can save time and improve performance.
Alerts Name : Customize the alert name to your preference.
Message Frequency : Determines the frequency of alert messages. Options include 'All' (triggers every time the function is called), 'Once Per Bar' (triggers only on the first call within the bar), and 'Once Per Bar Close' (triggers only on the final script execution of the real-time bar upon closure). The default is 'Once per Bar.'
Show Alert Time by Time Zone : Configure the alert messages to reflect any chosen time zone. For instance, input 'UTC+1' for London time. The default is 'UTC.'
By configuring these settings, traders can effectively utilize ICT setups to improve their trading strategies and outcomes.
Discovery IndexThe Discovery Index is an original technical indicator which attempts to display directional market pressure and momentum based on accumulated candle-over-candle measurements.
Discovery , in this context, is the act of finding (discovering) New Highs and Lows.
> What is 'Discovery'
Not to be confused with "Price Discovery", the term for setting the spot price of an asset.
The term 'Discovery' in Discovery Index is used based on the literal definition of 'Discovery', such as, the action of finding what was previously unknown.
Given this definition,
Discovery is the difference between highs or lows only when the current high is higher than the previous high or the current low is lower than the previous low.
Below is a visual example of exactly where Discovery is seen from each candle.
Since discovery is only based on points of the candle, and not specifically the direction of the candle; it is possible for discovery to occur in both directions from the same candle.
It is also possible for no discovery to occur from a candle.
> Calculation
The Discovery Index is the Net Total of discovery data over a specified length of bars.
Discovery Index = Sum of Upwards Discovery + Sum of Downwards Discovery
Note: Upwards Discovery is always Positive, and Downwards Discovery is always Negative. By adding both together, their Net Total is produced. This value is the "Discovery Index".
Wick Calculation Example
> Volume Discovery
Using Volume for the Discovery Index Calculation allows for a different dimension to be added to the data for new analysis opportunities.
While volume data is only a single value, by accumulating this data over time, we are able to fabricate a candle body from the data by accounting for the direction of the chart candles.
This allows for the Calculation of the Discovery Index based on volume data.
Volume Example
> Display
The display uses a "Candlestick histogram" display. The bodies and wicks from the display represent the discovery data from the respective points in each candle. (Wick Discovery & Candle Body Discovery).
This style of histogram allows for the display of both data sources, preserving the accuracy and distinction between each type, while also providing a clean display.
> Considerations
Discovery index is not an Oscillator, since there are no upper or lower boundaries to its rotations.
There are not (at this time) any "Over-bought" or "Over-sold" Areas, this is partially due to the previous consideration since any levels for these could potentially change from chart to chart. Additionally, it would generally be better to read the data based on the context of the current market.
Non-directional movements effect the Discovery Index as well. Since Discovery does not occur from every bar, the Index reflects hesitations as well as movements in market direction.
With the option to input a symbol, the Discovery Index Indicator is not constrained to one chart ticker for its calculation and could help to see shifts between different symbols, making it easier to compare different assets.
With the separation of wicks and candle body data, a stronger move may be observed by its full-bodied movements, while a potentially more speculative move may be seen from large wick movements. Since wicks are often interpreted as either, Rejection for reversal OR as Testing for continuation, the interpretation for Wick Discovery generally varies based on context.
Discovery Index ⇾ Divergences! Due to its calculation, price (and/or volume) data is displayed in such a way that makes it useful as a tool for identifying divergence opportunities.
Remember, this indicator is lookback based. An immediate significant change from the data source (if not offset by a similar opposite change) will be represented for multiple bars after its occurrence. Due to this, data is likely to be skewed or biased from these occurrences for a period of time after.
Throughout development, "Discovery" has been shortened to just "Disco", therefore, this indicator is also an attempt to bring Disco Back.
Enjoy!
TS & AO This is Best Intraday and Swing Trading Indicator
Certainly! Let’s explore some intraday and swing trading indicators that can help traders make informed decisions
SuperTrend:
The Supertrend indicator is commonly used for intraday trading.
It is plotted on the price chart and helps determine the current trend.
Parameters: It uses the Average True Range (ATR) with default values of 10 for the period and 3 for the multiplier.
Interpretation:
Upward trend: When Supertrend is below the bars and changes color to green, it indicates a buy signal.
Downward trend: When Supertrend is above the bars and turns red, it signals a sell opportunity1.
VWAP (Volume Weighted Average Price):
VWAP is a volume-based indicator.
It compares the value of a stock traded at a specific time to the total volume traded for that stock.
Interpretation:
Bullish trend: When the stock price is above VWAP, it suggests an uptrend.
Traders can consider buying on retracements toward VWAP in the direction of the trend1.
Moving Averages (MAs):
MAs are versatile indicators suitable for intraday, swing, and longer-term trading.
Common MAs include:
9-day MA: Short-term trend indicator.
50-day MA: Intermediate trend indicator.
100-day MA: Longer-term trend indicator.
Interpretation:
Uptrend: When the stock price is above the MA, it signals a bullish trend.
Downtrend: When the price is below the MA, it suggests a bearish trend2.
