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ZigZag OrderBlock Retracement█ INTRODUCTION What is an OrderBlock? It is simply Price where Banks (or Large Financial Entities) have Bought or Sold heavily (Support or Resistance Institutional Zone). Our job as a trader is to monitor what the Banks and/or Large Investors are doing then patiently wait and have the opportunity to surf in their direction. Large Financial Entities Buy during Price drops to get the best purchase Price. The Bank are acting a bit like us in our everyday life, When we want Buying something, we always try to Buy it at the best price. And when we Sell, take the example of a used Car, we will systematically try to Sell it at the highest possible Price. The Price of convertible Cars goes down during the Winter and goes up during the Summer.  So to make the best operation, if you Buy a second-hand convertible you will prefer to Buy it during the Winter and Sell it immediately in the Summer and not Vice versa. So the way Large Institution act is exactly the same, it will expect the Price to Buy the fall and they will wait until the Price rises in order to Sell. This is how the Profits will be made. The mistake that many Traders makes when they Trade emotionally is to act in the opposite way of what they will do in everyday life. When we trade emotionally, we see the Price fall, instead of Buying while the Price drops we Sell.  In a similar emotional based act when the Price goes up we Buy, while when the Price goes up it's the best opportunity to Sell. So all the big moves that you can watch on your different Instruments are the result of Banks or other Large Financial Entities. As Individuals, we do not have the necessary  “Strike Force” to create this type of movement. However, it is important to note that when Banks or Large Entities create this type of movement, they do so despite theirs willing, they would love to be able to hide but luckily for us they can’t. When Billions of Dollars are Invested in Trades, the effect can’t be concealed and as a result we will observe the impact on the market then as an Individual we’ll be able to see that on our Charts.  There are many ways to locate these areas of interest. But as they say, all roads lead to Rome. The purpose remains the Price Study  and in particular the movements of strong amplitude on the Chart. Large Financial Entities will keep acting in the same Price areas, Or at least we can say that there's a high probability for them to intervene in these zones. Therefore, rather than chasing the Price moves and then to endure a counter move, we will patiently wait until the Price returns to these areas on the basis that Banks and, or Large Entities will accumulate on their Positions and are going to Sell and Buy in the same Price areas. Keep in mind that this logic works no matter what TimeFrame is used. However when the have Analysis on Small TimeFrame (between M15 and H1) will make the movements observed between 20 and 50 Pips. Whereas if we look at H4 or Daily, we can really see movements of 100 or even 200 Pips. █ OVERVIEW The ZigZag Indicator is used to illustrate Trend Lines without taking into account intermediate Retracements. In a way, it allows you to get to the point by giving a simplified view of the evolution of Prices by eliminating "parasitic" movements, and thus to Position and unwind Positions at the appropriate times. It is part of the category of Trend Indicators. We will simply define a Level of Price variation below which they will not be taken into account by the indicator. This will eliminate all minor fluctuations, depending on the desired sensitivity. The Indicator can only have 2 directions, Up or Down. For example, setting the Indicator to 5% (ZigZag Length ) will eliminate all variations below 5%. If the Trend is Bullish and the Indicator therefore oriented in the same direction, Prices will have to fall by at least 5% for the direction of the ZigZag to reverse Downward. Why using ZigZag to search for our OrderBlock? ZigZag makes it possible to clearly identify the current Trend as well as significant Reversals and therefore have a much clearer vision of the actions carried out by Banks / Large Entities. However, it is drawn up a posteriori and therefore does not make it possible to predict the evolution of Prices. The turning points are Indicated with a delay proportional to the chosen sensitivity. The indicator calculates the Lowest Price over the given Period and eliminates Prices that are below the minimum requested Array Size. Then, it calculates the Highest Price over the given Period and eliminates the Prices that are below the minimum requested Array Size. Finally, it draws the Trend Line that connects the High and Low points determined previously and use the sum of the two to determinate the Range area. █ HOW TO INTERPRET? • The Indicator creates Lines that demonstrate past Retracements and current Pivots Levels to get a clearer view of the next Retracement area using the Lines from the Last High and Low Pivots to determine which Take-Profit or Stop-Loss set. • The "OrderBlocks" are detected based on the Pivots founds. You can display the Prices and use theses to help you set your Take-Profit during Retracement. • Possibility to display the Levels of detected Pivots point. This can permit to dispense with the use of Elliot Waves or the use of a Fibonacci. • Donchian ZigZag Channels to be sure to always have seen the extremities of the Top, Bottom and Range area. • The ZigZag Length is set to 5 by default. You will have to adjust it according to selected TimeFrame or Financial Instrument used. • The ZigZag has 3 adjustable colors: -Green = Bullish Trend -Red = Bearish Trend -Orange = Range Zone It is not advisable to enter Position when the ZigZag color indicates a Range Zone. - OrderBlocks - ZigZag + Pivots Point - Donchian ZigZag Channel █ ALERTS Following the request of many users on our other script concerning the late arrival of Alerts for detected OrderBlocks (on Institutional OrderBlock Pressure), we fixed this problem here with the arrival INSTAN and CONFIRM ALERTS . █ NOTES - This script is not beginner's Level and is intended for Traders with advanced knowledge of ZigZag and the work of Michael j. Huddleston on the OrderBlocks. Good Trade everyone and remember, risk management remains the most important!
Indicador Pine Script®
por RickSimpson
113
[AB] Support/Resistance Drawing ToolThis script is designed to help you identify viable support and resistance levels by automatically creating lines that become less transparent when said levels hold. It is based on Donchian Channels created by rounded closes, not by highs and lows. You can use it as an aid to draw your levels manually, or stick exclusively to automatic charting. Available settings are as follows: Source - highly recommended to use Close, but other options are available if you'd like to do some experimentation. Source Rounding - the accuracy of price sampling; higher rounding will make your lines more visible at the expense of precision. It is highly recommended to use decimals. Length (Array) - the overall lookback of the script (length of the array). This value shouldn't be higher than 500 if skip = 2, or 250 if skip = 1. If you'd like to reach further back into the past, I'd recommend switching timeframes instead of increasing this beyond 500. Sampling Skip - how frequently the data is sampled. I wouldn't recommend going beyond 2, especially with the default settings. Transparency Skip - you can think of it as "pencil hardness". The higher the skip, the bigger the imprint of a single level detection will be. Wouldn't recommend going beyond 10. Color R, G, and B - you can use these settings to adjust the color of the lines.
Indicador Pine Script®
por akalibot1987
5
Trend Key PointsEach trend has its high and low key points that are important in the next prices. Sometimes it's hard to find out the keys with a naked eye, so I tried to code a simple indicator to marking these points also, as a bonus, to draw support and resistance lines from previous critical pivot points. Let me explain the details with a downtrend. If we consider the previous trend, each downtrend starts with a HH and end with a LL. There are always many tries between that HH and LL to turn the trend up. This indicator counts that inner attempts. The higher the number of attempts, the more important move has been started from the beginning (HH). These numbers take their final form when the trend ends and are included in the label at the beginning of each trend. Key points with 3 and more inner tries are consider as critical point by default but It's alterable and you can change it as you want. The indicator draws lines from critical points too, so you can use that lines as support and resistance in next candles. Likewise, there are marks below inner LLs and above inner HHs. This indicator idea is entirely my own and is a product I've really thought about, AND you have allowed to use and share it anywhere to anyone. I did my best to make it useful, even so I am open to any improvement. If you have an idea or a suggestion, don't forget to leave a comment.
Indicador Pine Script®
por bhnmzm
22
ZFDB4.V10its a simple indicator which will automatically plot out the following Previous day's - open previous week's - high, low, open and close previous month's - high, low, open and close it will also separate the days in the week ahead ( not behind) the idea of this indicator is to help you be AWARE of key levels that you might miss while being on lower time frames and also help you to think forward instead of backwards. there are indicators already built on tradingview that plots these levels. this indicator is inspired by "BartholomewJ - Killzones" & "Airscape - Days of week" Cheers guys! Hope it can help you!
Indicador Pine Script®
por bon_appetrade
Kilted Round NumbersKILTED ROUND NUMBERS v1.0 Description: This is a simple indicator that calls out the psychological round numbers that the market gravitates towards. Lines in BLUE are SUPPORT as they will be below the current price and lines in RED are above the current price and represent resistance. This should assist traders with key levels that once drawn assist the eye with seeing those key levels and how price reacts to the respective levels. SETTINGS AND EXPLANATION General Settings - Kilted Round Numbers Main Levels – This will highlight the main levels above and below the current price - Kilted Round Numbers Sub Levels – This will highlight the number of levels you want to see within the main levels - Only Show Dane Sub Levels – This feature is a work in progress and will highlight certain levels only as part of a separate strategy and will be available in due course in v2.0 If you need access to any of our indicators please use the link below to obtain access to this indicator or send us a private message on trading view.
Indicador Pine Script®
por kiltedtrading
2