ZenAlgo - Heavy DeltaThe ZenAlgo - Heavy Delta indicator is a comprehensive technical analysis tool designed for traders seeking a deeper understanding of market dynamics. It combines multiple advanced sub-indicators, including Order Blocks, Moving Averages, VWAP, and Delta Volume analysis, and more to provide actionable insights. This indicator is particularly useful for identifying potential trade entries and exits based on institutional order flow and price action patterns.
Features
Order Block Detection: Identifies bullish and bearish order blocks with detailed visualization and volume analysis.
VWAP (Volume Weighted Average Price): Tracks the average price of a security weighted by volume over various anchor periods.
Moving Averages (MA): Customizable MAs (13, 21, 50, 200 periods) to detect trends and momentum shifts.
Daily Open and Monday Range: Highlights key levels like daily open and intraday/multi-day high-low ranges for better price context.
Delta Volume Analysis: Measures the net difference between buying and selling volume for market sentiment insights.
Divergence Detection: Detects regular and hidden bullish/bearish divergences for trend reversal opportunities.
Visual Alerts: Displays intuitive symbols for potential buy/sell signals and key price levels.
Added Value: Why Is This Indicator Original/Why Shall You Pay for This Indicator?
The ZenAlgo - Heavy Delta indicator offers a distinct advantage by integrating multiple analysis techniques into one cohesive tool. While many individual indicators are freely available, this script goes beyond simple overlays to provide an advanced analytical framework. Here’s why it stands out:
1. Synergy of Indicators
Order Blocks: These are not static; the indicator dynamically calculates zones where institutional activity likely occurred, supported by volume-weighted metrics.
Delta Volume Analysis: Freely available delta volume tools typically show raw data, but this script filters noise, categorizes volume into meaningful up/down segments, and integrates it with other signals for context.
VWAP and Moving Averages: VWAP and customizable MAs are enhanced with divergence checks, color-coded trends, and market state classifications. This integration helps confirm trends and reversals with higher precision.
2. Volume-Based Insights
Traditional volume indicators often fail to show the "intent" behind price moves. This script combines delta volume and order block data to highlight areas of significant buying or selling pressure and their potential impacts on future price action.
3. Visual Simplicity with Advanced Logic
Unlike using several separate tools, which can clutter your chart, this indicator presents a streamlined interface. Every plotted element serves a clear purpose, minimizing distractions while maximizing actionable insights.
4. Customized for Active Traders
The indicator doesn’t just provide standard calculations. It includes proprietary adjustments like mitigation thresholds in order blocks, percentage-based signals for VWAP, and delta volume intensity levels that align better with active market conditions.
5. Why Pay for It?
Time and effort savings: Instead of setting up and calibrating multiple tools, this indicator combines them into a single efficient package.
Enhanced accuracy: Each sub-indicator validates the others, reducing false signals.
Unique features: For instance, the script automatically adjusts for multi-timeframe inconsistencies and uses gradient color fills to convey volume strength in order blocks—a feature absent in free indicators.
How It Works
The indicator combines individual sub-indicators into a logical framework where each part contributes to the overall analysis. Here’s how each feature operates:
1. Order Blocks
Identification: Uses specific price action patterns to locate zones of likely institutional interest (bullish or bearish blocks).
Dynamic Updates: The blocks adjust as new price data comes in, ensuring their relevance. Volume within these zones is weighted, helping assess their strength and potential price reactions.
Visual Enhancements: Blocks are color-coded and filled with gradients based on volume intensity, providing immediate visual cues about their importance.
2. VWAP (Volume Weighted Average Price)
Calculation: Anchored to user-selected periods (daily, weekly, etc.), VWAP is recalculated in real-time, showing the "fair" price based on traded volume.
Integration: Acts as a dynamic support/resistance line, particularly useful in intraday and swing trading. Labels provide percentage deviation for quick interpretation.
3. Moving Averages (MAs)
Customization: Supports various types (EMA, SMA, etc.) and lengths (13, 21, 50, 200). Traders can configure these to suit their strategies.
Market Status: By comparing the price to these MAs, the indicator classifies the market as Full Bull, Bullish, Neutral, Bearish, or Full Bear. This high-level summary helps traders quickly gauge market sentiment.
4. Delta Volume
Core Logic: Calculates the net difference between buying and selling pressure (volume) for each candle.
Visual Signals: Plots symbols when significant delta volume changes coincide with other indicator signals, like divergence or order block activity.
5. Daily Open and Monday Range
Purpose: Identifies key psychological levels like the daily open and the high/low range for the first trading day of the week.
Context: Highlights these levels with dynamic percentage changes, helping traders understand how price is behaving relative to them.
6. Divergence Detection
Logic: Tracks discrepancies between price movement and momentum (via Moving Averages, Delta Volume, and Order Blocks). These divergences often precede reversals.
Validation: Divergences are only flagged when other features, like delta volume shifts or order block interactions, confirm the setup.
By combining these tools in a meaningful way, ZenAlgo - Heavy Delta transforms raw data into actionable intelligence, giving traders a comprehensive view of market dynamics and a significant edge in decision-making.
Why Use Heikin Ashi for Heavy Delta?
The ZenAlgo - Heavy Delta indicator is optimized for Heikin Ashi (HA) candles, which smooth out market noise and make trends more visually apparent. Heikin Ashi works best for this strategy for several key reasons:
Why Heikin Ashi Works Best
Trend Clarity: Unlike traditional candlesticks, Heikin Ashi averages price data to create smoother transitions. This helps the indicator better identify sustained trends and reduces false signals caused by short-term price fluctuations.
Noise Reduction: HA candles filter out minor fluctuations and emphasize the overall market direction, making it easier to align the indicator’s signals (like Delta Volume and Order Blocks) with larger market movements.
Improved Visual Insights: Features like Order Blocks and Delta Volume align well with Heikin Ashi's smoothed representation, as it avoids the erratic movements that traditional candles sometimes display.
Better Support for Trend Strategies: Heikin Ashi candles naturally highlight key reversals and continuation patterns, which complement the analytical goals of this indicator.
Important Notes About Heikin Ashi:
Synthetic Nature of HA Candles: Heikin Ashi values are calculated differently than traditional candles. For example: a) The open is the average of the prior candle's open and close. b) The close is the average of the high, low, open, and close. This synthetic nature means that HA candles do not reflect actual market prices but rather smoothed averages, which can slightly lag real-time price movements.
Lagging Effect: Because HA candles use averaged data, they can lag behind actual price action. This is beneficial for identifying trends but less effective for precise entry/exit timing.
Inaccuracy in Low Volatility: In low-volume or low-volatility conditions, HA candles may distort actual price dynamics, leading to less reliable insights.
No Direct Alerts or Buy/Sell Signals : Issuing explicit buy or sell signals based on Heikin Ashi candles is not possible due to their averaged, synthetic nature. As such, the ZenAlgo - Heavy Delta indicator does not generate direct trading signals. Instead, the indicator is a decision-support tool that provides insights into trends, volume dynamics, and potential key levels, leaving trade execution to the trader's discretion.
Usage Examples
Trend Confirmation: Use the MA market status to identify if the market is in a Full Bull or Bear state.
Reversal Zones: Monitor order block zones for price rejection or absorption, signaling a potential reversal.
Breakout Trading: Trade breakouts when price surpasses VWAP or Monday Range highs/lows.
Delta Divergence: Look for positive/negative delta volume divergences during consolidations for breakout cues.
Mean Reversion: Use VWAP or MAs as dynamic support/resistance for mean reversion setups.
Intraday Scalping: Utilize daily open and intraday levels for short-term trades.
Swing Trading: Employ order blocks and multi-day ranges to frame swing trade setups.
Volume Climax: Identify volume spikes using Delta Volume to confirm trend continuation or reversal.
Momentum Trading: Combine divergence signals with Delta Volume for high-conviction entries.
Risk Management: Use defined order block boundaries to set stop losses and targets.
Settings
Order Blocks: Customize label visibility, label offsets, and block appearance.
VWAP: Adjust anchor period and toggle visibility.
Moving Averages: Configure length, type (EMA, SMA, etc.), and visibility of MAs (13, 21, 50, 200).
Delta Volume: Enable/disable delta symbols and labels, adjust sensitivity multipliers.
Daily Open/Monday Range: Toggle visibility and customize display preferences.
General Visuals: Adjust label offsets, color schemes, and transparency.
Important Notes
This indicator is a technical analysis tool and does not guarantee trading success.
Use it in conjunction with other indicators and fundamental analysis for a more comprehensive trading strategy.
Performance may vary in low-liquidity markets or during sudden news events.
Divergence signals might fail in strongly trending markets.
Pesquisar nos scripts por "high low"
Intrabar BoxPlotThe Intrabar BoxPlot publication highlights an uncommon technique by displaying statistical intrabar Lower Timeframe (LTF) values on the chart.
🔶 USAGE
🔹 Middle 50% Boxes
By showing the middle 50% intrabar values through a box, we can more easily see where the intrabar activity is mainly situated.
The middle 50% intrabar values are referred to from here on as Interquartile range (IQR).
In this example, the successive IQRs form a channel where the price eventually breaks out.
Disproportionately distributed values can give insights which can be used to find potential support/resistance areas.
IQR gaps can give valuable information as well. Potentially, the price can return to these gaps.
Seeing the IQR areas against regular candles gives an alternative image of the underlying price movements.
🔹 Highest volume Price level
The script displays the price level with the highest volume situated, dependable on the user's source setting. Setting the source at 'close' will only display intrabar close values; the same goes for high, low, ...
As seen in the above example, the volume levels can aid in finding support/resistance.
🔹 Median
The location of the median off all intrabar values is displayed as a coloured dot: green when the close price is higher than the opening price and red if otherwise. The median can give valuable insights into price movements.
🔹 Outliers
Medium (white dots) and extreme (white X) outliers, in combination with the IQR box, can help identify potential areas of interest.
🔹 Volume Delta
When there is a discrepancy between the delta volume and direction of the candle, this will be displayed as follows:
Green candle: when the sum of the volume of red intrabars is higher than the sum of the volume of green intrabars, the candle will be coloured orange.
Red candle: when the sum of the volume of green intrabars is higher than the sum of the volume of red intrabars, the candle will be coloured blue.
🔹 Highlight Boxplot only
Probably the easiest way to display boxplot only is by changing the Bar's style to Bars .
🔶 DETAILS
All intrabar values (Lower TimeFrame - LTF) are sorted and evaluated. Values can be close , high , low , ... by selecting this in Settings ( source ).
The middle 50% of all values are displayed as a box; this contains the values between percentile 25 (p25) and percentile 75 (p75). The value of percentile rank 75 means 75% of all values are lower. The value of percentile rank 25 means 25% of all values are lower, or 75% is higher.
The difference between p75 and p25 is also known as Interquartile range (IQR)
IQR is used to check for outliers.
Wiki: Boxplot , Interquartile range
Extreme high: maximum value, higher than p75 + IQR*3
Max outlier high: maximum value, higher than p75 + IQR*1.5 but lower than p75 + IQR*3
Max: maximum value, lower than p75 + IQR*1.5
Min: minimum value, higher than p25 - IQR*1.5
Min outlier low: minimum value, lower than p25 - IQR*1.5 but higher than p25 - IQR*3
Extreme low: minimum value, lower than p25 - IQR*3
Max and min must not be interpreted with the current candle high/low.
🔹 Example: Length of chart-puppets
The following example can make it easier to digest. Forty "chart-puppets" are sorted by their length.
The p25 value is 97
The p50 value is 120
The p75 value is 149
75% of all "chart-puppets" are smaller than p75, and 25% is larger than p75.
50% of all "chart-puppets" are smaller than p50, and 50% is larger than p50 (= median).
25% of all "chart-puppets" are smaller than p25, and 75% is larger than p25.
IQR = 149 - 97 = 52
Extreme outlier limit max: p75 + IQR*3 = 149 + 52*3 = 305
Mild outlier limit max: p75 + IQR*1.5 = 149 + 52*1.5 = 227
Mild outlier limit min: p25 - IQR*1.5 = 97 - 52*1.5 = 19
Extreme outlier limit min: p25 - IQR*3 = 97 - 52*3 = -59
In this example there are no outliers to be found, all values are located between p25 - IQR*1.5 (19) and p75 + IQR*1.5. (227)
🔹 Source settings
Note that results are dependable on the chosen source (settings). When, for example, close is chosen as the source, only intrabar close prices are included. This means a low or high can stretch further then the min or max.
Here we can see different results with different source settings
🔹 LTF settings
When 'Auto' is enabled (Settings, LTF), the LTF will be the nearest possible x times smaller TF than the current TF. When 'Premium' is disabled, the minimum TF will always be 1 minute to ensure TradingView plans lower than Premium don't get an error.
Examples with current Daily TF (when Premium is enabled):
500 : 3 minute LTF
1500 (default): 1 minute LTF
5000: 30 seconds LTF (1 minute if Premium is disabled)
🔶 SETTINGS
Source: Set source at close, high, low,...
🔹 LTF
LTF: LTF setting
Auto + multiple: Adjusts the initial set LTF
Premium: Enable when your TradingView plan is Premium or higher
🔹 Intrabar Delta : Colors, dependable on different circumstances.
Up: Price goes up, with more bullish than bearish intrabar volume.
Up-: Price goes up, with more bearish than bullish intrabar volume.
Down: Price goes down, with more bearish than bullish intrabar volume.
Down+: Price goes down, with more bullish than bearish intrabar volume.
🔹 Table
Show table: Show details at the top right corner
Show TF: Show LTF at the bottom right corner
Text color/table size
See DETAILS for more information
Overnight High/LowThe script identifies the Overnight High (the highest price) and Overnight Low (the lowest price) for a trading instrument during a specified overnight session. It then plots these levels on the chart for reference in subsequent trading sessions.
Key Features:
Time Settings:
The script defines the start (startHour) and end (endHour + endMinute) times for the overnight session.
The session spans across two calendar days, such as 5:00 PM (17:00) to 9:30 AM (09:30).
Tracking High and Low:
During the overnight session, the script dynamically tracks:
Overnight High: The highest price reached during the session.
Overnight Low: The lowest price reached during the session.
Reset Mechanism:
After the overnight session ends (at the specified end time), the script resets the overnightHigh and overnightLow variables, preparing for the next session.
Visual Representation:
The script uses horizontal dotted lines to plot:
A green line for the Overnight High.
A red line for the Overnight Low.
These lines extend to the right of the chart, providing visual reference points for traders.
How It Works:
Session Detection:
The script checks whether the current time falls within the overnight session:
If the hour is greater than or equal to the start hour (e.g., 17:00).
Or if the hour is less than or equal to the end hour (e.g., 09:30), considering the next day.
The end minute (e.g., 30 minutes past the hour) is also considered for precision.
High and Low Calculation:
During the overnight session:
If the overnightHigh is not yet defined, it initializes with the current candle's high.
If already defined, it updates by comparing the current candle's high to the existing overnightHigh using the math.max function.
Similarly, overnightLow is initialized or updated using the math.min function.
Post-Session Reset:
After the session ends, the script clears the overnightHigh and overnightLow variables by setting them to na (not available).
Line Drawing:
The script draws horizontal dotted lines for the Overnight High and Low during and after the session.
The lines extend indefinitely to the right of the chart.
Benefits:
Visual Aid: Helps traders quickly identify overnight support and resistance levels, which are critical for intraday trading.
Automation: Removes the need for manually plotting these levels each day.
Customizable: Time settings can be adjusted to match different markets or trading strategies.
This script is ideal for traders who use the overnight range as part of their analysis for breakouts, reversals, or trend continuation strategies.
Z_TRendThe Z_Trend indicator is designed to detect significant volume spikes during trading sessions and identify the high/low levels of the candlestick with the highest volume in each session. This helps users recognize key price zones and monitor market activity effectively.
Main Features:
Session Classification:
Asian Session: From 0:00 to 14:00 (UTC+7).
European Session: From 14:00 to 19:00 (UTC+7).
US Session: From 19:00 to 23:00 (UTC+7).
Volume Analysis:
Calculates a Simple Moving Average (SMA) of the volume over the last 89 candles.
Marks candles with volumes exceeding defined thresholds:
High Threshold: Default is 1.618 (adjustable).
Low Threshold: Default is 0.618 (adjustable).
Highlighting Highest Volume Candle:
Detects the candle with the highest volume in each session.
Plots the high and low levels of this candle on the chart to signify critical price zones.
Volume-Based Candle Coloring:
Bullish candles (closing above open) with high volume are marked green.
Bearish candles (closing below open) with high volume are marked dark red.
Customizable Inputs:
High Threshold: Set to 1.618 by default; can be adjusted.
Low Threshold: Set to 0.618 by default; can be adjusted.
Chart Visuals:
Green line: Represents the highest price of the candle with the largest volume in the session.
Red line: Represents the lowest price of the candle with the largest volume in the session.
Practical Applications:
Identify Key Price Zones: Use the high/low levels of the high-volume candle to locate potential support/resistance levels.
Analyze Market Dynamics: Observe candle colors and volume to gauge session-specific trends.
Trading Strategy: Utilize these insights to make informed entry and exit decisions.
Notes:
The indicator can be adjusted to fit individual trading strategies.
It is recommended to combine this tool with other indicators for more reliable signals.
Try it out on your chart now to discover potential trading opportunities! 🚀
Gunzo Market SRGunzo Market SR is a set of 3 tools combined for trend analysis on day trading strategy.
VWAP (Volume Weighted Average Price) :
The VWAP indicator is generally used for trend analysis. For example if the VWAP line is under the closing price for a long period of time, the trend is strong. In this script, the VWAP has been optimized for day trading as the indicator is calculated inside the daily range, and resets when a new day starts. This way the indicator reflects the daily trend and not the overall trend. You can also use the position of closing price according to the VWAP to find optimal entry points according to the indicator.
Highs / Lows :
The Highs / Lows are generally used for trend analysis too. The High / Lows are mainly used to identify prices that have been key during the past and that we can use as an indication for the following candles. In this script, the Highs / Lows are computed on the daily period and then displayed on the current period (recommended to use on a daily period or lower). This way the indicator reflects the highest point and the lowest point of the day (can be modified to have a longer range of pivot days even if I recommend to stay on 1 day for day trading).
Support / Resistance :
The Support / Resistance is generally used for trend analysis too. The Support / Resistance are found by searching local high and lows. The longer the supports and resistance are, the strongest it can be considered. In this script, the Highs / Lows are computed by default on a lower time frame (usually 3-4 times lower). For example on a 15 minute graph, the Highs / Lows will be computed on the 5 minute graph (can be modified if the displayed result is not optimized for your asset).
How to use this set of tools :
I personally recommend to use this tool at the start of your day of trading. This way you will get a clear vision of the daily situation and try to identify key prices and the trend for the current day. I then suggest to set up an alert on the key price to be notified when you're getting close to it.
Candle Data AnalyzerCandle Data Analyzer
Overview
The Candle Data Analyzer is a powerful TradingView script designed to provide traders with insights into price action patterns within specific time sessions. By analyzing historical candle data, this indicator offers predictive suggestions for future price movements, helping traders make more informed decisions.
Key Features
**Custom Session Analysis**: Analyze price action within user-defined time sessions.
**Bias Selection**: Choose between Bullish, Bearish, or Neutral bias for predictions.
**Daily/Weekly Toggle**: Option to use daily or weekly results for broader context.
**Visual Predictions**: Display predicted high, low, and open levels for the next session.
**Detailed Statistics**: View average time and price movements for highs and lows.
**Interactive Table**: Optional table display showing current and historical data.
How It Works
1. The script collects and analyzes candle data from user-defined sessions.
2. It calculates average time and price movements for highs and lows.
3. Based on the selected bias, it predicts the next session's open, high, and low levels.
4. These predictions are visually represented on the chart using colored lines.
5. A detailed statistics table can be displayed for in-depth analysis.
Usage Guide
Setup
1. Add the indicator to your chart.
2. Configure the session time in the format "HHMM-HHMM" (e.g., "0300-0500" for 3:00 AM to 5:00 AM).
3. Select your bias: Bullish, Bearish, or Neutral.
4. Choose whether to use daily results or not.
5. Decide if you want to display the detailed statistics table.
Interpreting the Results
**Blue Line**: Open level for the next session.
**Green Line**: Predicted high level for the next session.
**Red Line**: Predicted low level for the next session.
**Vertical Lines**: Estimated times for the high (green) and low (red) to occur.
Using the Statistics Table
If enabled, the table provides:
- Previous session's OHLC data with timestamps.
- Average price movements (as percentages) from open to high and open to low.
- Average time for highs and lows to occur (in minutes).
- Count of analyzed candles matching the selected bias.
Trading Applications
**Session Trading**: Use predictions to plan entries and exits for session-based trading strategies.
**Risk Management**: Set stop-loss and take-profit levels based on predicted price ranges.
**Trend Analysis**: Compare current price action to predicted levels to gauge trend strength.
**Time-Based Strategies**: Utilize timing predictions for high-probability trade entries.
Best Practices
- Combine this indicator with other technical analysis tools for confirmation.
- Regularly adjust the session times and bias to adapt to changing market conditions.
- Use the statistics table to gain deeper insights into historical price patterns.
- Remember that predictions are based on averages and should not be considered guaranteed outcomes.
Conclusion
The Candle Data Analyzer offers a unique approach to understanding and predicting price action within specific time frames. By leveraging historical data and user-defined parameters, it provides traders with valuable insights to enhance their trading strategies and decision-making processes.
Future Developments
- Weekly and Daily Projections
- User defined line styles
Higher Time Frame Strat [QuantVue]The Higher Time Frame Strat Indicator is a tool that helps traders visualize and analyze price action from a higher timeframe (HTF) on their current chart. It applies the Strat method, a trading strategy focused on identifying key price action setups by observing how current price bars relate to previous ones. This helps in understanding the market's structure and determining potential trading opportunities based on higher timeframe data.
Key Concepts:
Strat Basics:
Type 1 Bar (Inside Bar): The current bar's high is lower than the previous bar's high, and its low is higher than the previous bar's low. This signifies a consolidation, or indecision, as the price is contained within the previous bar's range.
Type 2 Bar (Directional Bar): The current bar either breaks above the previous bar's high (bullish) or stays above the previous bar's low (bearish), indicating a continuation in the price direction.
Type 3 Bar (Outside Bar): The current bar breaks both above the previous bar's high and below the previous bar's low, showing volatility and a potential reversal.
Higher Timeframe Visualization:
The indicator uses a user-defined higher timeframe (default: 1 hour) and plots the last three higher timeframe candles on the current chart.
Strat Classification:
When a new higher timeframe candle forms, the indicator draws a semi-transparent box around the candle's range (high to low), along with the Strat type label. This provides a visual cue to the trader about the structure of the newly formed candle and how it fits into the overall market movement.
The script classifies each higher timeframe candle as one of the Strat types (1, 2, or 3). Based on the relationship between the current candle and the previous candle's high/low, it assigns a label ("1", "2", or "3"), helping traders quickly identify the price action setup on the higher timeframe.
How to Use the Indicator:
Trend Continuation: Look for Type 2 bars, which indicate a continuation in the current trend. For example, a Type 2 up suggests the price is breaking above the previous high, potentially signaling further upward movement.
Reversals: Type 3 bars show increased volatility, where the price breaks both above and below the previous bar's range. This could indicate a reversal, so be prepared for a potential change in direction.
Consolidation: Inside bars (Type 1) signify a tightening range and can signal the beginning of a breakout once the price moves outside of the previous bar's high or low.
By combining these price action concepts with the visualization of higher timeframe data, traders can potentially get earlier entry and exits as a higher timeframe set up forms.
Pure Price Action ICT Tools [LuxAlgo]The Pure Price Action ICT Tools indicator is designed for pure price action analysis, automatically identifying real-time market structures, liquidity levels, order & breaker blocks, and liquidity voids.
Its unique feature lies in its exclusive reliance on price patterns, without being constrained by any user-defined inputs, ensuring a robust and objective analysis of market dynamics.
🔶 MARKET STRUCTURES
A Market Structure Shift, also known as a Change of Character (CHoCH), is a pivotal event in price action analysis indicating a potential change in market sentiment or direction. An MSS occurs when the price reverses from an established trend, signaling that the prevailing trend may be losing momentum and a reversal might be underway. This shift is often identified by key technical patterns, such as a higher low in a downtrend or a lower high in an uptrend, which indicate a weakening of the current trend's strength.
A Break of Structure typically indicates the continuation of the current market trend. This event occurs when the price decisively moves beyond a previous swing high or low, confirming the strength of the prevailing trend. In an uptrend, a BOS is marked by the price breaking above a previous high, while in a downtrend, it is identified by the price breaking below a previous low.
While a Market Structure Shift (MSS) can indicate a potential trend reversal and a Break of Structure (BOS) often confirms trend continuation, they do not assure a complete reversal or continuation. MSS and BOS levels can also function as liquidity zones or areas of price consolidation rather than definitively signaling a change in market direction. Traders should approach these signals cautiously and validate them with additional factors before making trading decisions. For further details on other components of the tool, please refer to the following sections.
🔶 ORDER & BREAKER BLOCKS
Order and Breaker Blocks are key concepts in price action analysis that help traders identify significant levels in the market structure.
Order Blocks are specific price zones where significant buying or selling activity has occurred. These zones often represent the actions of large institutional traders or market makers, who execute substantial orders that impact the market.
Breaker Blocks are specific price zones where a strong reversal occurs, causing a break in the prevailing market structure. These blocks indicate areas where the price encountered significant resistance or support, leading to a reversal.
In summary, Order and Breaker Blocks are essential tools in price action analysis, providing insights into significant market levels influenced by institutional trading activities. These blocks help traders make informed decisions about potential support and resistance levels, trend reversals, and breakout confirmations.
🔶 BUYSIDE & SELLSIDE LIQUIDITY
Both buy-side and sell-side liquidity zones are critical for identifying potential turning points in the market. These zones are where significant buying or selling interest is concentrated, influencing future price movements.
In summary, buy-side and sell-side liquidity provide crucial insights into market demand and supply dynamics, helping traders make informed decisions based on the availability of orders at different price levels.
🔶 LIQUIDITY VOIDS
Liquidity voids are gaps or areas on a price chart where there is a lack of trading activity. These voids represent zones with minimal to no buy or sell orders, often resulting in sharp price movements when the market enters these areas.
In summary, liquidity voids are crucial areas on a price chart characterized by a lack of trading activity. These voids can lead to rapid price movements and increased volatility, making them essential considerations for traders in their analysis and decision-making processes.
🔶 SWING POINTS
Reversal price points are commonly referred to as swing points. Traders often analyze historical swing points to discern market trends and pinpoint potential trade entry and exit points.
Do note that in this script these are subject to backpainting, that is they are not located where they are detected.
The detection of swing points and the unique feature of this script rely exclusively on price action, eliminating the need for numerical user-defined settings. The process begins with detecting short-term swing points:
Short-Term Swing High (STH): Identified as a price peak surrounded by lower highs on both sides.
Short-Term Swing Low (STL): Recognized as a price trough surrounded by higher lows on both sides.
Intermediate-term and long-term swing points are detected using the same approach but with a slight modification. Instead of directly analyzing price candles, previously detected short-term swing points are utilized. For intermediate-term swing points, short-term swing points are analyzed, while for long-term swing points, intermediate-term ones are used.
This method ensures a robust and objective analysis of market dynamics, offering traders reliable insights into market structures. Detected swing points serve as the foundation for identifying market structures, buy-side/sell-side liquidity levels, and order and breaker blocks presented with this tool.
In summary, swing points are essential elements in technical analysis, helping traders identify trends, support, and resistance levels, and optimal entry and exit points. Understanding swing points allows traders to make informed decisions based on the natural price movements in the market.
🔶 SETTINGS
🔹 Market Structures
Market Structures: Toggles the visibility of the market structures, both shifts and breaks.
Detection: An option that allows users to detect market structures based on the significance of swing levels, including short-term, intermediate-term, and long-term.
Market Structure Labels: Controls the visibility of labels that highlight the type of market structure.
Line Style: Customizes the style of the lines representing the market structure.
🔹 Order & Breaker Blocks
Order & Breaker Blocks: Toggles the visibility of the order & breaker blocks.
Detection: An option that allows users to detect order & breaker blocks based on the significance of swing levels, including short-term, intermediate-term, and long-term.
Last Bullish Blocks: Number of the most recent bullish order/breaker blocks to display on the chart.
Last Bearish Blocks: Number of the most recent bearish order/breaker blocks to display on the chart.
Use Candle Body: Allows users to use candle bodies as order block areas instead of the full candle range.
🔹 Buyside & Sellside Liquidity
Buyside & Sellside Liquidity: Toggles the visibility of the buyside & sellside liquidity levels.
Detection: An option that allows users to detect buy-side & sell-side liquidity based on the significance of swing levels, including short-term, intermediate-term, and long-term.
Margin: Sets margin/sensitivity for a liquidity level detection.
Visible Levels: Controls the amount of the liquidity levels/zones to be visualized.
🔹 Liquidity Voids
Liquidity Voids: Enable display of both bullish and bearish liquidity voids.
Threshold Multiplier: Defines the multiplier for the threshold, which is hard-coded to the 200-period ATR range.
Mode: Controls the lookback length for detection and visualization. Present considers the last X bars specified in the option, while Historical includes all available data.
Label: Enable display of a label indicating liquidity voids.
🔹 Swing Highs/Lows
Swing Highs/Lows: Toggles the visibility of the swing levels.
Detection: An option that allows users to detect swing levels based on the significance of swing levels, including short-term, intermediate-term, and long-term.
Label Size: Control the size of swing level labels.
🔶 RELATED SCRIPTS
Pure-Price-Action-Structures.
Market-Structures-(Intrabar).
Buyside-Sellside-Liquidity.
Order-Breaker-Blocks.
50%er Lite by Tren10x50%er Script Lite
Overview:
The Tren10x 50%er Script Lite is a streamlined version of my fully-featured 50%er script. It calculates the critical 50% line of the previous candle and extends this functionality to daily, weekly, monthly, quarterly, and yearly levels. This script also detects previous highs and lows for these timeframes, providing a comprehensive view of key price levels. Additionally, it calculates and prints opening levels for the day, week, month, quarter, and year. A custom timeframe feature allows for flexibility in setting 50% and high/low levels, catering to individual trading preferences.
How It Works:
The script leverages Pine Script to calculate the midpoint (50%) of the previous candle's high and low. This midpoint acts as a crucial level for traders to identify potential support and resistance. The same logic is applied to daily, weekly, monthly, quarterly, and yearly timeframes, offering a multi-dimensional perspective on price action.
The script identifies and marks the previous high and low points for these timeframes, which are essential for breakout and breakdown strategies. It also tracks and prints the opening levels for various periods, helping traders gauge market sentiment from the open.
How to Use:
Adding to Chart:
Apply the Tren10x 50%er Script Lite to your TradingView chart.
Configuring Inputs:
Customize the timeframes and levels according to your trading strategy.
Use the custom timeframe feature to set specific periods for 50% and high/low levels.
Analyzing Levels:
Observe the plotted 50% lines and opening levels to identify potential areas of support and resistance.
Utilize the previous high and low markers to spot breakout or breakdown points.
Strategizing Trades:
Incorporate these levels into your trading strategy for entry and exit points.
Monitor price reactions around these critical levels for potential trade setups.
What Makes It Original:
50%er Lite stands out for its simplicity and precision. By focusing on the essential 50% line and previous high/low levels across multiple timeframes, it provides traders with a clear and concise view of the market. The custom timeframe feature adds a layer of personalization, allowing traders to adapt the script to their unique trading styles.
50%er Lite maintains a clean and straightforward approach. It offers essential data without overwhelming the user, making it a valuable tool for both novice and experienced traders.
Future Prospects:
For traders seeking even more advanced features, the fully-fledged version of the 50%er script includes Futures levels.
Volume-Weighted Support and Resistance with ProjectionsVolume-Weighted Support and Resistance with Projections (VW-SRP)
Overview
This TradingView PineScript indicator, "Volume-Weighted Support and Resistance with Projections" (VW-SRP), identifies key support and resistance levels based on volume-weighted average price (VWAP), short-term highs and lows, and projects future levels using standard deviation. It also provides a dashboard displaying the strength of each level based on the number of volume-based taps.
Features
VWAP Calculation: Computes the volume-weighted average price over a specified lookback period.
Support and Resistance Levels: Identifies short-term high and low levels within a rolling window.
Projected Levels: Calculates projected high and low levels based on standard deviation.
Volume-Based Strength: Counts the number of times each level is tested with significant volume.
Dynamic Labels: Displays labels for key levels and updates their positions periodically.
Dashboard: Shows the strength of each level in terms of volume-based taps.
Inputs
Lookback Period: Number of bars to consider for VWAP calculation (default: 100).
Projection Period: Number of bars for projecting future levels (default: 10).
Projection Offset: Number of bars to offset labels into the future (default: 15).
Update Interval: Frequency of updating labels and dashboard in bars (default: 5).
Standard Deviation Multiplier: Multiplier for calculating projected levels (default: 2.0).
Rolling Window: Number of bars for identifying short-term highs and lows (default: 20).
Volume Threshold: Minimum volume for counting taps (default: 1000).
Show Labels: Toggle for displaying labels on the chart (default: true).
Custom Colors
Light Red: color.rgb(255, 99, 71, 90)
Dark Red: color.rgb(205, 92, 92, 90)
White: color.new(color.white, 90)
Deep Orange: color.new(#f46200, 90)
Light Green: color.rgb(144, 238, 144, 90)
Text Color: color.white
Configuring the Indicator
Lookback Period: Set the number of bars for VWAP calculation.
Projection Period: Define the number of bars for projecting future levels.
Projection Offset: Set the number of bars to offset labels.
Update Interval: Choose how often the labels and dashboard should update.
Standard Deviation Multiplier: Adjust the multiplier for projected levels.
Rolling Window: Define the window for identifying short-term highs and lows.
Volume Threshold: Set the minimum volume for counting taps.
Show Labels: Toggle to display or hide labels.
Interpreting the Indicator
VWAP: The volume-weighted average price over the specified lookback period.
Short-term High/Low: The highest and lowest prices within the rolling window.
Projected High/Low: Future projections based on standard deviation.
Dashboard: Displays the strength of each level in terms of volume-based taps.
Visual Elements
Labels: Display the price levels and their respective values.
Dashboard: Located at the bottom-right corner of the chart, showing the number of taps for each level.
Example Usage
To use this indicator effectively, look for price reactions around the VWAP and projected levels. Strong volume-based taps at these levels indicate significant support or resistance. Adjust the input parameters to match your preferred timeframe and trading style
M Farm Scalper v4"M Farm Scalper v2" Trading Indicator on TradingView
Overview
This script uses a combination of indicators to help attempt the best view of when to exit and enter markets. The author has seen that usage of multiple indicators combined provided value and create profit.
1. Improved Signal Reliability
Combining swing highs and lows with Swing Failure Patterns (SFP) increases the reliability of the signals. Each indicator contributes different insights into market behavior:
Swing Highs and Lows: These help identify key support and resistance levels.
Swing Failure Patterns: These provide early warning signs of potential trend reversals when price fails to maintain new highs or lows.
2. Comprehensive Market Analysis
Using multiple indicators allows for a more comprehensive analysis of market conditions:
Trend Analysis: Swing highs and lows can indicate the overall trend direction.
Reversal Signals: SFPs highlight potential reversal points where the current trend might be weakening.
3. Enhanced Signal Strength
The script not only detects basic SFPs but also evaluates their strength by considering the number of failures within a specified range:
Strength of SFPs: By quantifying the strength of SFPs, the script can distinguish between weak and strong reversal signals. This helps traders prioritize stronger signals, reducing false positives.
4. Visual and Alert-based Trading
The combined use of these indicators improves both visual analysis and automated alert systems:
Visual Representation: Plotting different characters for swing points and SFPs makes it easier for traders to quickly interpret the chart.
Alerts: Automated alerts for specific conditions (like swing high/low failures) enable traders to respond promptly to significant market movements without constantly monitoring the charts.
5. Flexibility and Customization
The script includes parameters that allow traders to customize the behavior of the indicators based on their trading preferences:
Customization of Lookback Period (swingHistory): Traders can adjust this to fine-tune the sensitivity of swing point detection.
Selective Plotting (plotSwings, plotFirstSFPOnly, plotStrongerSFPs): These options provide flexibility in how much information is displayed on the chart, preventing clutter and focusing on relevant signals.
6. Minimized Noise and False Signals
By using a combination of indicators, the strategy aims to filter out market noise and reduce the likelihood of false signals:
Confluence of Signals: When multiple indicators align to provide a signal, it generally indicates a higher probability setup, thus reducing the chances of acting on false or less significant market moves.
7. Contextual Market Understanding
Combining indicators offers a more contextual understanding of market dynamics:
Market Context: Identifying both support/resistance levels (via swing points) and potential trend reversals (via SFPs) provides a fuller picture of market conditions, allowing traders to make more informed decisions.
Conclusion
Combining multiple indicators in the "M Farm Scalper v2" script is a strategic choice designed to enhance the robustness, reliability, and actionable quality of the trading signals. This approach leverages the strengths of each indicator to provide a well-rounded, comprehensive trading tool that aids traders in identifying high-probability trade setups and minimizing the risk of false signals.
ChatGPT can make mistakes. Check important info.
Introducing "M Farm Scalper v2" – an advanced proprietary trading indicator designed exclusively for the TradingView platform. This tool excels in identifying key swing points and Swing Failure Patterns (SFPs), offering traders unique visual and auditory cues to enhance decision-making. It's particularly tailored for the 5-minute timeframe but adaptable to suit a variety of trading styles.
Unique Features
Advanced Swing Point Detection: Leverages a sophisticated algorithm to detect swing highs and lows, integrating predictive analytics to forecast potential market reversals.
Dynamic Swing Failure Pattern Analysis: Employs a real-time analysis combining price action and volume data to pinpoint bullish and bearish reversal opportunities with high precision.
Innovative Visual and Auditory Cues: Features unique, easy-to-understand icons such as animals and fruits to represent market signals, simplifying complex market data into actionable insights.
Functionality
"M Farm Scalper v2" is crafted to deliver:
Configurable Parameters: Users can adjust settings including Swing History, visibility of swing points, and sensitivity for detecting stronger SFPs, making it highly customizable to fit individual trading strategies.
Clear, Actionable Outputs: Designed to offer straightforward visual signals directly on the trading chart, facilitating quick and effective decision-making.
Compliance and Originality
Original Integration of Features: This script combines several analytical techniques into a cohesive unit that surpasses the capabilities of existing open-source scripts in both originality and functionality.
Justification for Closed-Source: The proprietary nature of the algorithms and the unique method of data presentation are maintained as closed-source to protect the integrity and effectiveness of the tool, providing users with a reliable competitive advantage.
Application Instructions
To apply "M Farm Scalper v2," add it from the TradingView "Indicators" menu by searching for our script. Adjust the customizable settings as per your trading requirements and observe how the indicator’s outputs make market dynamics easy to interpret and act upon.
Chart Presentation
The accompanying chart is presented cleanly, focusing solely on the outputs of "M Farm Scalper v2." Each visual cue is annotated to demonstrate its relevance, ensuring that traders can easily understand and utilize the information provided without distraction.
Conclusion
"M Farm Scalper v2" is not just an indicator but an essential trading tool for those seeking precision and efficiency in their trading operations. Its advanced features and user-friendly design make it a valuable addition to any trader’s arsenal, especially for those involved in scalping and short-term trading.
Protected script
This script is published closed-source but you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Equal Highs & Lows [UAlgo]
🔶 Description:
The "Equal Highs/Lows " indicator is designed to identify equal highs and lows within price action. These levels are significant as they often indicate potential reversal points or areas of consolidation in the market. The indicator is based on specific settings and utilizes the concept of Average True Range (ATR) to determine thresholds for identifying these key price levels.
The indicator plots lines and labels to mark equal highs and lows on the price chart.
It dynamically adjusts to changes in market volatility by utilizing ATR-based thresholds.
🔶 Settings:
Pivot Length: Determines the number of bars used to identify pivot highs and lows.
ATR Length to calculate threshold: Specifies the length of the ATR used to calculate the threshold for determining equal highs and lows.
Threshold: Sets the percentage threshold used in conjunction with ATR to identify equal highs and lows.
Wait For Confirmation: When enabled, the indicator waits for confirmation by considering pivots beyond (considers right length bars while calcuation pivot points) the specified length.
While "Wait For Confirmation" is enabled, EQH / EQL Lines will appear after "Pivot Length" after for confirmation
While "Wait For Confirmation" is disabled, EQH / EQL Lines will appear immediately if it meets the requirements to create EQH or EQL as soon as the candle closes.
🔶 Disclaimer:
"Equal Highs/Lows " is provided for informational and educational purposes only. Trading involves risks, and users should exercise caution and perform their own analysis before making any trading decisions based on this indicator. The creator of the indicator, UAlgo, does not guarantee the accuracy or reliability of the indicator, and usage of this indicator is at the user's own risk.
[AlbaTherium] Sessional & Daily's liquidities - Beta Sessional & Daily Liquidities - Beta: Harnessing the Power of the Institutional Funding Candle (IFC) in Trading
Introduction:
The Sessional & Daily Liquidities - Beta indicator places the Institutional Funding Candle (IFC) at its core. Within the realm of trading, the IFC stands as a key signal for identifying Points of Interest (POIs) , offering traders invaluable insights into market dynamics. This document aims to illuminate the central role of the IFC within the Sessional & Daily Liquidities - Beta indicator, explaining how it can be effectively utilized to spot significant changes in the market and seize trading opportunities.
Chapter 1: Sessional Liquidity concepts
The forex market can be broken up into four major trading sessions: the Sydney session, the Tokyo session, the London session, and Trump’s favorite time to tweet (before he was banned), the New York session.
Historically, the forex market has three peak trading sessions. Traders often focus on one of the three trading periods, rather than attempt to trade the markets 24 hours per day. This is known as the “forex 3-session system“. These sessions consist of the Asian, European, and North American sessions, which are also called Tokyo, London, and New York sessions.
For that reason, a lot of trader put their stoploss right at the High or Low of their session, filling these price levels with liquidities. The market loves liquidities, they are like the “fuel” of the market. Price usually goes to these levels, takes out all the liquidities, and then returns to its original direction. This price behaviour indicates the presence of players – banks, institutions,... – driving the market to their own profit.
The same logic applies with Daily, Weekly and Monthly high/low levels.
Chapter 2: Deciphering the Institutional Funding Candle
2.1 Unveiling the Essence of the Institutional Funding Candle (IFC)
- IFC concept is the core of this indicator. It is recommended to use this indicator on high timeframes, like 1H or 4H charts, as those are the timeframes which big players look at.
- The presence of IFC candles means a significant amount of stop loss is triggered, and price have a tendency to reverse.
2.2 Criteria for IFC Identification
The definition of specific conditions that characterize an IFC within the Sessional & Daily Liquidities - Beta indicator:
- A breach of Previous day, Previous week, or Previous month’s High or Low levels or a breach of major Session Highs or Lows.
- Price made an immediate reverse, creating a decent distance from the wicks.
Chapter 2: Trading Strategies with the IFC
User should treat these signals with cautions, and only take trades with multi confluences.
This pictures below demonstrate a strategy to trade with this indicator, taking 1H HTF trend and 5m LTF ChoCh and Single Candle Order Block as confluences.
Conclusion:
The Sessional & Daily Liquidities - Beta indicator, centered around the Institutional Funding Candle (IFC), stands as a potent tool for traders, offering them the means to spot critical inflection points in the market. By understanding the role of the IFC in violating significant swing highs or lows and major session highs or lows, traders can make informed decisions and seize opportunities within the ever-evolving realm of financial markets. It's crucial to note that while IFC candle colors can provide insights, they do not unilaterally dictate market direction. Furthermore, candle closure can be a valuable consideration in specific situations, particularly when evaluating other High Time Frame POIs.
The real-world examples presented in this document within the Sessional & Daily Liquidities - Beta indicator offer a tangible insight into the world of IFC trading. Harness the potential of the Institutional Funding Candle within the Sessional & Daily Liquidities - Beta indicator to elevate your trading strategies and make well-informed decisions in the dynamic landscape of financial markets.
Indicator Based Market Exposure (IBME)The Indicator Based Market Exposure (IBME) system was created by Big Wave Chartist as a way to navigate the markets using a confluence of three different signals to determine when the "internals" of the market are in your favor and how heavily invested to be at any point. The idea of the system is also to flash warning signs when the market internals are beginning to deteriorate so as to take a defensive stance. Of course this system can be strictly adhered to, or it can be incorporated into a more discretionary style of trading, and be combined with progressive exposure into (and out of) the market as positions gain (or lose) traction.
The IBME displays a straightforward action signal based on the combination of the 3 separate signals:
Green 🟢 Full size-longs permitted
Yellow 🟡 Pilot positions permitted
Red 🔴 No longs allowed
So let's get into the signals used:
McClellan Summation Index
Net New Highs/Lows
Net New Highs Crossover
McClellan Summation Index (MSI)
The McClellan Summation Index is a long-term version of the McClellan Oscillator, which is a market breadth indicator based on stock advances and declines. Interpretation is similar to that of the McClellan Oscillator, except that it is more suited to intermediate to major trends and related reversals. The McClellan Summation Index can be calculated as the sum of all the daily values of the McClellan Oscillator. This is used along with the 10-sma to watch for a crossover indicating an uptrend or downtrend beginning.
Net New Highs/Lows
This is the net number of stocks making 52-week highs or lows. For instance, if there are 60 new 52-week highs and 20 new 52-week lows, the net number will be 40 net new 52 week highs. This signal is particularly useful in gauging breadth.
Net New Highs Crossover
This is the description of NNHC from the original separate version of this indicator created by HikoStory: "Net New Highs can guide you to increase or decrease your exposure based on the current market health. They are calculated by subtracting the new highs from the new lows, based on all stocks of the...NASDAQ. A positive value shows that the market is doing good, since more stocks are making new highs compared to new lows. A negative value shows that the market is doing bad, since more stocks are making new lows compared to new highs. Combined with a moving average you can see crossovers that can warn you early when there is a change in the current market health."
The default index for the IBME is the Nasdaq.
The IBME is meant to be used on a daily time frame chart, therefore the signal will only show on a daily time frame chart.
Display options include:
Show/hide individual signals
Table background/font color
Table size/placement
Evolution Fractals with IBA standard fractal high has two lower high (or equal high) candles to its left and right.
For standard fractal low fractals this is vice versa.
-But this indicator plots has the option to plot standard fractals only after candle close is confirmed.
So if the current candle is still forming in live markets, only after this candle has fully closed, then the indicator checks if the fractal is valid and then plotted.
You can select this option On or Off
(with the standard fractal indicator there is a fractal plotted, but when this candle high (or low ) is broken again, the fractal disappears. This re-painting of fractals can cause confusion.
-Added an alert functionality.
When setting an alert on your chart, you can select this indicator to alert you upon the forming of a new fractal high or low.
-Added optional Inside Bar function.
When a candle High/Low does not breach the previous candle High/Low, then a different body color can be shown.
This is particular handy to quickly if this high/low is breached, without having to zoom in on the chart.
Long & Short / Bullish & Bearish & Neutral / Sentiment LONG and SHORT signal generation:
The LONG and SHORT signals in this script are generated based on a combination of sentiment, price strength, and volume strength calculations. The following parameters and calculations are used in determining these signals:
Sentiment:
The sentiment is calculated using a Simple Moving Average ( SMA ) of the SMO (oscillator) over a specified sentiment_length.
Price Strength:
The price strength is calculated as the percentage change in the closing price compared to the previous closing price.
Volume Strength:
The volume strength is calculated as the percentage change in the trading volume compared to the previous trading volume .
Custom Oscillator:
This oscillator is calculated as the difference between price strength and volume strength, followed by calculating its SMA over a specified strength_length.
The LONG signal is triggered when:
The sentiment_diff (difference between the oscillator and the SMA oscillator) is greater than 0, and the close price is greater than the fast EMA ( Exponential Moving Average ) of the close price, OR
The custom oscillator crosses over its SMA , and the close price is greater than the open price, and the close price of the previous period is greater than the close price of two periods ago.
The SHORT signal is triggered when:
The sentiment_diff is less than 0, and the close price is less than the fast EMA of the close price, OR
The custom oscillator crosses under its SMA , and the close price is less than the open price, and the close price of the previous period is less than the close price of two periods ago.
Color change description:
The color change in this script is based on the relationship between the close price and the highest/lowest SMAs of the high/low price over a specified lengthInputRoR. The following colors are used:
Green:
Bullish area (close price is greater than the highest SMA of the high price)
Red:
Bearish area (close price is less than the lowest SMA of the low price)
Yellow:
Neutral area (close price is between the highest and lowest SMAs of the high and low prices)
Color meaning description:
Yellow (Neutral Area):
This color indicates that the close price is between the highest and lowest SMAs of the high and low prices, signaling more caution and uncertainty in the market.
Green ( Bullish Area):
This color represents a bullish market condition where the close price is greater than the highest SMA of the high price, suggesting a higher probability of a successful LONG position.
Red ( Bearish Area):
This color signifies a bearish market condition where the close price is less than the lowest SMA of the low price, indicating a higher probability of a successful SHORT position.
Support and Resistance lines explanation:
Support and resistance lines are calculated based on the highest and lowest prices over a specified number of periods. These lines are used to identify significant price levels where the market may experience increased buying or selling pressure.
Resistance:
The resistance line is calculated using the highest high price over a specified number of periods. This line represents a price level where selling pressure is expected to increase, making it more difficult for the price to rise further. Traders often consider resistance levels as potential entry points for SHORT positions or exit points for LONG positions.
Support:
The support line is calculated using the lowest low price over a specified number of periods. This line represents a price level where buying pressure is expected to increase, making it more difficult for the price to fall further. Traders often consider support levels as potential entry points for LONG positions or exit points for SHORT positions.
The resistance and support lines are plotted using different colors to help traders visualize the important price levels where the market may experience a reversal or consolidation.
Final Words:
This script provides LONG and SHORT signals and alerts based on a combination of sentiment, price strength, and volume strength calculations. It is designed to serve as a high-quality aid for executing well-informed trading ideas. However, it's important to note that the LONG and SHORT signals and alerts generated by this script should not be considered as trading advice. Traders should always conduct their own research and analysis before making any trading decisions. The script aims to assist in visualizing important market trends and price levels, helping traders make more informed decisions based on their personal trading strategies.
My LONG and SHORT signals and Bullish and Bearish by seatripsLONG and SHORT signal generation:
The LONG and SHORT signals in this script are generated based on a combination of sentiment, price strength, and volume strength calculations. The following parameters and calculations are used in determining these signals:
Sentiment: The sentiment is calculated using a Simple Moving Average ( SMA ) of the SMO (oscillator) over a specified sentiment_length.
Price Strength: The price strength is calculated as the percentage change in the closing price compared to the previous closing price.
Volume Strength: The volume strength is calculated as the percentage change in the trading volume compared to the previous trading volume .
Custom Oscillator: This oscillator is calculated as the difference between price strength and volume strength, followed by calculating its SMA over a specified strength_length.
The LONG signal is triggered when:
The sentiment_diff (difference between the oscillator and the SMA oscillator) is greater than 0, and the close price is greater than the fast EMA ( Exponential Moving Average ) of the close price, OR
The custom oscillator crosses over its SMA , and the close price is greater than the open price, and the close price of the previous period is greater than the close price of two periods ago.
The SHORT signal is triggered when:
The sentiment_diff is less than 0, and the close price is less than the fast EMA of the close price, OR
The custom oscillator crosses under its SMA , and the close price is less than the open price, and the close price of the previous period is less than the close price of two periods ago.
Color change description:
The color change in this script is based on the relationship between the close price and the highest/lowest SMAs of the high/low price over a specified lengthInputRoR. The following colors are used:
Green: Bullish area (close price is greater than the highest SMA of the high price)
Red: Bearish area (close price is less than the lowest SMA of the low price)
Yellow: Neutral area (close price is between the highest and lowest SMAs of the high and low prices)
Color meaning description:
Yellow (Neutral Area): This color indicates that the close price is between the highest and lowest SMAs of the high and low prices, signaling more caution and uncertainty in the market.
Green ( Bullish Area): This color represents a bullish market condition where the close price is greater than the highest SMA of the high price, suggesting a higher probability of a successful LONG position.
Red ( Bearish Area): This color signifies a bearish market condition where the close price is less than the lowest SMA of the low price, indicating a higher probability of a successful SHORT position.
Support and Resistance lines explanation:
Support and resistance lines are calculated based on the highest and lowest prices over a specified number of periods. These lines are used to identify significant price levels where the market may experience increased buying or selling pressure.
Resistance: The resistance line is calculated using the highest high price over a specified number of periods. This line represents a price level where selling pressure is expected to increase, making it more difficult for the price to rise further. Traders often consider resistance levels as potential entry points for SHORT positions or exit points for LONG positions.
Support: The support line is calculated using the lowest low price over a specified number of periods. This line represents a price level where buying pressure is expected to increase, making it more difficult for the price to fall further. Traders often consider support levels as potential entry points for LONG positions or exit points for SHORT positions.
The resistance and support lines are plotted using different colors to help traders visualize the important price levels where the market may experience a reversal or consolidation.
Final Words:
This script provides LONG and SHORT signals and alerts based on a combination of sentiment, price strength, and volume strength calculations. It is designed to serve as a high-quality aid for executing well-informed trading ideas. However, it's important to note that the LONG and SHORT signals and alerts generated by this script should not be considered as trading advice. Traders should always conduct their own research and analysis before making any trading decisions. The script aims to assist in visualizing important market trends and price levels, helping traders make more informed decisions based on their personal trading strategies.
SFC Smart Money Manipulation - Liquidity, StructureThis indicator shows very important information about the market.
Features:
- Market structure
- Important Ranges
- Liquidity
- Trading session
- Daily Checklist
Market structure
Market structure is the behaviour, condition, and current flow of the market. It highlights support and resistance levels, swing highs, and swing lows. A trend is simply a consistent direction of price movement over time. Market structure can tell you if the market is trending or not.
Market structure is a lagging indicator, because Highs and Lows must to be created in order to define the structure properly. The structure provide the most important information about the market.
Market structure can provide early signals about the trend.
- If the structure continues to break in the same direction, it means that the trend is healthy and will continue (BoS).
- If the structure break in the opposite direction, means that the trend may reverse or pause for a while (CHoCH).
Important ranges
- Asia Range - it is important intraday range and can provide early information if the day will be bullish or bearish.
- Most recent High/Low - determine the last swing
- Premium/ Discount zone with Fibonacci levels - the institutions always want to buy in discount and sell in premium.
Liquidity
Areas where a lot of traders get into the market and theirs stop losses are obvious. So the banks will manipulate the price to clear these stop losses, before price go in real direction. The banks will always hunt the liquidity.
The major liquidity is:
- Doji candle - displayed
- Double/Triple Highs or Lows - displayed
- Fair value gaps - displayed
- Imbalances - displayed
- Trend lines
- Big wicks
Trading Sessions
Price and Time theory is very significant in Smart Money Concept. The banks do not just place orders chaotically. They place it in specific time.
The indicator shows the Asia, London and New York intraday sessions and the kill zones.
Kill Zone - most manipulated time in the day, where institutions try to wipe out the retail traders and establish the true move.
Daily Checklist
Simple, but very useful checklist. It shows the most important daily steps in order qualitative analysis to be created.
How to use
1) Use the swing highs and lows and check the current structure.
2) Look where is the major liquidity. By default orange colour. When liquidity is retested from the price ,it change the colour from orange to gray. Retested liquidity is no more significant for the banks.
3) Use the important ranges to define the pullbacks or reversals or trading ranges.
4) Use the trading sessions and kill zones to place orders in the right time.
5) Use the "daily checklist" every day - step by step. It helps trader to analyse the current market.
Settings
-Show pivots, Pivot confirmation candles, Equal Highs/Lows sensitivity
-Show structures breaks
-Show most recent high/low
-Show Asia range
-Show premium/discount zone with Fibonacci levels
-Show liquidity, Colour of liquidity, Color of retested liquidity, Doji settings
-Show Trading sessions
-Show daily checklist
HH-LL ZZAnother ZigZag, yes...
I believe though this concerns another angle/principle, therefore I wanted to share
How does it work?
Given:
source for level breach -> close
X breaches -> 3
Let's say this is the latest found 'lower low' (LL - blue dot under bar):
This bar has been triggered because 3 bars closed under low of previous 'trigger bar' (TB )
The high and low of this new TB will act as triggers
(aqua blue lines, seen in image above)
Then there are 2 options:
- again 3 bars closes under the latest TB , in that case the TB moves to that new LL.
- 3 bars closes higher than the high of previous TB
The high and low of this new TB act again as trigger
If a new TB LL/HH is found, the script checks previous LL/HH
and searches the highest/lowest point in between.
If necessary, the temporary highest/lowest will be adjusted:
Another example:
The last 2 points can change (repaint).
Yellow coloured lines/labels are set and won't change anymore.
Concluded:
In case of these settings:
source for level breach -> close
X breaches -> 3
once a new TB is found, the high and low act as trigger lines
- when 3 bars closes under that low , a new LL is found, this will be the new TB
- when 3 bars closes above that high , a new HH is found, this will be the new TB
and so on...
Settings:
source for level breach -> close or high/low - H/L
X breaches -> 1 -> 10
line style -> solid, dotted, dashed
show level breaches -> new found TB (blue/lime coloured)
show Support/Resistance (lines at the right)
repaint warning can be removed
show labels / lines
This ZZ can be used for Harmonic patterns, Trend evaluation, support/resistance,...
In this script, I also used new features
- text_font_family = font.family_monospace -> link
- display=display.pane -> link
Cheers!
PrasiGanFanFibntroduction
This is a combination of Fibonacci and Gann fan /retracements.
The script can automatically draw as many:
Fibonacci Retracements
Fibonacci Fan
Gann Retracements
Gann Fan
as the user requires on the chart. Each level set or fan consists of 7 lines based on the most important ratios of Fibonacci/ Gann .
Basics
What are Fibonacci retracements?
Fibonacci retracement levels are horizontal lines that indicate where support and resistance are likely to occur. They stem from Fibonacci’s sequence. Each level is associated with a percentage which is how much of a prior move the price has retraced. The Fibonacci retracement levels are 23.6%, 38.2%, 61.8%, and 78.6%. While not officially a Fibonacci ratio, 50% is also used. The indicator is useful because it can be drawn between any two significant price points, such as a high and a low. The indicator will then create the levels between those two points.
What are Gann retracements?
A developer of technical analysis and trading was W.D. Gann . Gann theory expects a normal retracement of 50 percent. This means that under normal selling pressure, the stock price will decline half the amount of its most recent rise, and vice versa. It also suggests that retracements occur at the halfway point of a move, such as 25 percent (half of 50 percent), 12.5 percent (half of 25 percent), and so on.
What is Fibonacci fan?
Fibonacci fan is a set of sequential trend lines drawn from a trough or peak through a set of points dictated by Fibonacci retracements. The first step to create it is to draw a trend line covering the local lowest and highest prices of a security. To reach retracement levels, the trader divides the difference in price at the low and high end by ratios determined by the Fibonacci series. The lines formed by connecting the starting point for the base trend line and each retracement level create the Fibonacci fan.
What is Gann fan?
A Gann fan consists of a series of lines called Gann angles. These angles are superimposed over a price chart to show potential support and resistance levels. The resulting image is supposed to help technical analysts predict price changes. Gann believed the 45-degree angle to be most important, but the Gann fan also draws angles at degrees like 75, 63.75, 26.25 and 15. The Gann fan originates at a low or high point. The resulting lines show areas of potential future support and resistance . The 45-degree line is known as the 1:1 line because the price will rise or fall at a 45-degree angle when the price moves up/down one unit for each unit of time. All other lines in the Gann fan are drawn above and below the 1:1 line. The other angles are associated with 2:1, 3:1, 4:1, 8:1 and 1:8, 1:4, 1:3, and 1:2 time-to-price moves.
Challenges
The most of the time I dedicated to writing this script has been spent on handling these problems:
1. Finding Local Highest/Lowest Prices
In order to draw Fibonacci and Gann fan /retracements, it's necessary to find local highest and lowest price points (Extrema) on the chart. As this could be so challenging, most traders and coders draw the lines covering the low and high prices over a given period of time or a limited number of bars back instead. I already wrote an indicator using this approach (Auto Fibonacci Combo).
In this new script I tried to find the exact highest and lowest prices based on this idea that: if a high point is formed lower than previous high which was after a lowest point, then that previous one was the local highest point, and vice versa if a low point is formed higher than previous low which was after a highest point, then that previous one was the local lowest point. So logically an extremum price on the chart won't be found until the next high/low point is formed.
2. Finding Proper Chart Scale for Gann Fan
Based on the theory, Gann angles are sensitive to the chart price scale and in order to have the right angles, the chart must be made with the proper scale. J.A. Hyerczyk in his book "Pattern, Price & Time - Using Gann Theory in Technical Analysis" suggests that the easiest way to determine the scale of a market is by taking the difference between top-to-top and bottom-to-bottom and dividing it by the time it took the market to move from top to top and bottom to bottom.
Thus on a properly constructed chart, the basic equation for calculating Gann angles is: Price * Time.
3. Drawing Fans and Relocating Fan Labels at Each New Bar in Pine (A Programming-Related Subject)
To do this, I used linear equations and line slopes. Of course it was so complicated and exhausting, but finally I overcame that thanks to my genius cousin.
Settings and Usage
By default, the script shows detected extremum points plus 1 Fibonacci fan, 1 Gann fan , 1 set of Fibonacci retracements and no Gann retracements on the chart. All of these could be changed in the indicator settings beside the color and transparency of each line.
Feel free to use this and send me your thoughts!
ArtiumPro Smart Money ConceptsSmart money concepts refer to the use of institutional trading strategies which align with the perspectives of Smart Money in the market. i.e. the composite man. Market Structure is the foundation of price action trading, understanding price action is fundamental to SMC.
ArtiumPro SMC 2.1 is an SMC (Smart Money Concepts) indicator full of features to aid SMC traders. Our aim is to save you time with automatic chart mark-up and help you spot areas of interest you may miss with the naked eye.
Fvg (Fair Value Gap) - is also known as an imbalance. An FVG is an imbalance of orders, for instance, for sellers to complete their trades, there must be buyers and vice versa so when a market receives too many of one kind of order buys or sells, and not enough of the order's counterpart. When the amount is not balanced and too many orders are put in for one direction, it creates an imbalance.
Multi timeframe FVG - this will show the same as above but on the higher timeframe you choose. It’ll show as 2 lines that show the higher timeframe fvg with a filled box that mitigates on entry.
Order Blocks - These are supply and demand zones, displayed typically as the last down/up candle before a move in the opposite direction. Great POI’s for entry and take profits.
Outside candle - this is a candle that sweeps the highs and lows of the previous candle, best used for the 1 hour or above these can indicate a change of price direction.
Previous day high & low
Not only does it show your previous day's low and high but it also shows your opening and close of the day. You have settings where you can turn off the open and close and just have daily highs and lows. It’s your choice within your settings.
Market Structure - We have packed this feature with options that are customizable for you,
Break of Structure (BOS) indicates a trend continuation.
Change of Character (CHoCH) indicates the first sign of a possible trend change.
Equal Highs/lows - this will mark your double/triple tops and bottoms.
Retracement - set this to your preferred retracement amount to customize your market structure to what you qualify as a valid pullback.
Elliott Wave ZigZag
Many people ask for the Elliott Waves. Well, here it is, inside this SMC. Just like your pivot highs and lows, the Elliott Wave is showing in real-time so you can see where your previous highs and lows are with the Elliott Wave break of structures that you can use in conjunction with the Smart Money Concepts Indicator of ArtiumPro.
Fib levels - for Premium & Discount areas - in this Instance the fib is used to determine if the price has pulled back into a premium or discount zone for optimal trade entry.
Trading Sessions
One of the most advanced trading session indicators out there and it’s included inside the most advanced SMC indicator on the market today. It has open breakout and settings to filter the opening range along with your pip daily range. You can select what timezone you are in and it automatically adjusts on the chart. Cool right? Hope you enjoy it, happy trading!
MTF previous high and low quarter levelsDescription
An experimental script that prints quarter levels of the previous timeframe's high and low to the current timeframe. The idea is quite simple and is basically the Fibonacci pivoted on the previous high and low with quarter level settings (0,0.25,0.5,0.75,1 etc). The default setting is the previous daily high and low but can be customized on user discretion.
New quarter levels are printed after the close of the previous timeframe and open of the new timeframe (user's timeframe setting)
How To Use
Levels should not be used blindly. Levels can be used as confluence when aligned with high probability supply and demand zones, support, resistance, order blocks, and so on.
Credit to @HeWhoMustNotBeNamed for the Previous High/Low MTF indicator code and @mrbirman for the idea to put this together.
ProConcepts (v-1.0.2)ProConcepts is a smart moeny concepts indicator that has several primary functions and features.
BOS Feature: BOS stands for break of structure and this is used to determine market structure support and resistance breakouts. The blue and red lines plot the pivot highs and lows on every time frame. When a trend is in a single direction and BOS appears, that is a strong sign that market structure is broken and the trend will continue.
CHOCH Feature: Similar to BOS the change of character feature is also a smart money concept where in a trend, CHOCH essentially is used to help determine a change of that trend with a low being violated in an uptrend or a high being violated in a downtrend. CHOCH is what determines the high lows of the trend.
Shaded Candle Feature: The candles are shaded either red or blue based on the trend. the CHOCH as discussed previously determines the trend and shades the candles blue and red according to the highs and lows.
Sessions Shading Feature: The background shading with lower opacity indicates a sessions feature that seperates the main trading sessions of the day, London, Asia, and New York. They are color coordinated and can be changed to fit your needs as a trader.
FVG Feature: FVG stands for fair value gap which is an area on the chart where there is a single directional movement either bullish for the blue FVG and bearish for the red FVG. These fvgs are strong areas of interest for rejections of price because they are agressive movements similar to an imbalance. The FVG should be used as a retest confirmation of a trend during a breakout of the BOS or a CHOCH.
High Low Feature: Disabled on the default chart is a a high low feature that marks all of the high lows of a trend so you can identify areas of support and resistance.
Auto Fibonacci and Gann Fan/Retracements ComboIntroduction
This is a combination of Fibonacci and Gann fan/retracements.
The script can automatically draw as many:
Fibonacci Retracements
Fibonacci Fan
Gann Retracements
Gann Fan
as the user requires on the chart. Each level set or fan consists of 7 lines based on the most important ratios of Fibonacci/Gann.
Basics
What are Fibonacci retracements?
Fibonacci retracement levels are horizontal lines that indicate where support and resistance are likely to occur. They stem from Fibonacci’s sequence. Each level is associated with a percentage which is how much of a prior move the price has retraced. The Fibonacci retracement levels are 23.6%, 38.2%, 61.8%, and 78.6%. While not officially a Fibonacci ratio, 50% is also used. The indicator is useful because it can be drawn between any two significant price points, such as a high and a low. The indicator will then create the levels between those two points.
What are Gann retracements?
A developer of technical analysis and trading was W.D. Gann. Gann theory expects a normal retracement of 50 percent. This means that under normal selling pressure, the stock price will decline half the amount of its most recent rise, and vice versa. It also suggests that retracements occur at the halfway point of a move, such as 25 percent (half of 50 percent), 12.5 percent (half of 25 percent), and so on.
What is Fibonacci fan?
Fibonacci fan is a set of sequential trend lines drawn from a trough or peak through a set of points dictated by Fibonacci retracements. The first step to create it is to draw a trend line covering the local lowest and highest prices of a security. To reach retracement levels, the trader divides the difference in price at the low and high end by ratios determined by the Fibonacci series. The lines formed by connecting the starting point for the base trend line and each retracement level create the Fibonacci fan.
What is Gann fan?
A Gann fan consists of a series of lines called Gann angles. These angles are superimposed over a price chart to show potential support and resistance levels. The resulting image is supposed to help technical analysts predict price changes. Gann believed the 45-degree angle to be most important, but the Gann fan also draws angles at degrees like 75, 63.75, 26.25 and 15. The Gann fan originates at a low or high point. The resulting lines show areas of potential future support and resistance. The 45-degree line is known as the 1:1 line because the price will rise or fall at a 45-degree angle when the price moves up/down one unit for each unit of time. All other lines in the Gann fan are drawn above and below the 1:1 line. The other angles are associated with 2:1, 3:1, 4:1, 8:1 and 1:8, 1:4, 1:3, and 1:2 time-to-price moves.
Challenges
The most of the time I dedicated to writing this script has been spent on handling these problems:
1. Finding Local Highest/Lowest Prices
In order to draw Fibonacci and Gann fan/retracements, it's necessary to find local highest and lowest price points (Extrema) on the chart. As this could be so challenging, most traders and coders draw the lines covering the low and high prices over a given period of time or a limited number of bars back instead. I already wrote an indicator using this approach ( Auto Fibonacci Combo ).
In this new script I tried to find the exact highest and lowest prices based on this idea that: if a high point is formed lower than previous high which was after a lowest point, then that previous one was the local highest point, and vice versa if a low point is formed higher than previous low which was after a highest point, then that previous one was the local lowest point. So logically an extremum price on the chart won't be found until the next high/low point is formed.
2. Finding Proper Chart Scale for Gann Fan
Based on the theory, Gann angles are sensitive to the chart price scale and in order to have the right angles, the chart must be made with the proper scale. J.A. Hyerczyk in his book "Pattern, Price & Time - Using Gann Theory in Technical Analysis" suggests that the easiest way to determine the scale of a market is by taking the difference between top-to-top and bottom-to-bottom and dividing it by the time it took the market to move from top to top and bottom to bottom.
Thus on a properly constructed chart, the basic equation for calculating Gann angles is: Price * Time.
3. Drawing Fans and Relocating Fan Labels at Each New Bar in Pine (A Programming-Related Subject)
To do this, I used linear equations and line slopes. Of course it was so complicated and exhausting, but finally I overcame that thanks to my genius cousin.
Settings and Usage
By default, the script shows detected extremum points plus 1 Fibonacci fan, 1 Gann fan, 1 set of Fibonacci retracements and no Gann retracements on the chart. All of these could be changed in the indicator settings beside the color and transparency of each line.
Feel free to use this and send me your thoughts!
