Pure Price Action Order & Breaker Blocks [LuxAlgo]The Pure Price Action Order & Breaker Blocks indicator is a pure price action adaptation of our previously published and highly popular Order-Blocks-Breaker-Blocks script.
Similar to its earlier version, this indicator detects order blocks that can automatically turn into breaker blocks on the chart once mitigated. However, the key difference/uniqueness is that the pure price action version relies solely on price patterns, eliminating the need for length definitions. In other words, it removes the limitation of user-defined inputs, ensuring a robust and objective analysis of market dynamics.
🔶 USAGE
An order block is a significant area on a price chart where there was a notable accumulation or distribution of orders, often identified by a strong price move followed by consolidation. Traders use order blocks to identify potential support or resistance levels.
A mitigated order block refers to an order block that has been invalidated due to subsequent market movements. It may no longer hold the same significance in the current market context. However, when the price mitigates an order block, a breaker block is confirmed. It is possible that the price might trade back to this breaker block, potentially offering a new trading opportunity.
Users can optionally enable the "Historical Polarity Changes" labels within the settings menu to see where breaker blocks might have previously provided effective trade setups.
This feature is most effective when using replay mode. Please note that these labels are subject to backpainting.
🔶 DETAILS
The swing points detection feature relies exclusively on price action, eliminating the need for numerical user-defined settings.
The first step involves detecting short-term swing points, where a short-term swing high (STH) is identified as a price peak surrounded by lower highs on both sides. Similarly, a short-term swing low is recognized as a price trough surrounded by higher lows on both sides.
Intermediate-term swing and long-term swing points are detected using the same approach but with a slight modification. Instead of directly analyzing price candles, we now utilize the previously detected short-term swing points. For intermediate-term swing points, we rely on short-term swing points, while for long-term swing points, we use the intermediate-term ones.
🔶 SETTINGS
Detection: Market structure used to detect swing points for creating order blocks.
Show Last Bullish OB: Number of the most recent bullish order/breaker blocks to display on the chart.
Show Last Bearish OB: 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.
🔹 Style
Show Historical Polarity Changes: Allows users to see labels indicating where a swing high/low previously occurred within a breaker block.
🔶 RELATED SCRIPTS
Pure-Price-Action-Structures.
Order-Blocks-Breaker-Blocks.
Pesquisar nos scripts por "ict"
Pro V3 [SMRT Algo]SMRT Algo Suite is a versatile toolkit featuring advanced features designed to deliver valuable signals and insights, catering to every trader's technical analysis requirements with precise data.
The SMRT Algo V3 represents a groundbreaking, comprehensive solution built from the ground up for traders.
While SMRT Algo can complement other technical analysis methods, it is also designed to function effectively as a standalone indicator adaptable to any trading style. Each feature is designed with the understanding that not all technical indicators suit every market condition.
The optimal approach to leveraging this indicator is to explore its diverse features gradually, select a few that best match your trading style, and use them consistently to develop a personalized SMRT Algo strategy.
Features:
Buy & Sell Signals: Clear buy and sell signals displayed on the chart, with ‘+’ indicating strong signals and normal signals without ‘+’.
Candle Coloring: Blue and red candle colors to signify bullish and bearish trends, respectively.
Signal Sensitivity: Adjust the frequency of signals to match your trading preferences.
MA Filter: Customizable moving average filter to ensure trades align with the prevailing trend.
Dashboard: Multi-timeframe analysis with information on various timeframes, offering quick decision-making capabilities and a customizable dashboard size.
Trailing Stop Loss: Suggestions for trailing stop losses to maximize profits while minimizing risk.
Power MA: A custom moving average that closely follows price, highlighting short-term market trends.
ChoCh/Bos: Displays internal market structure, including changes of character and breaks of structure.
Market Structure: Shows external market structure, detailing changes of character, breaks of structure, and pivot points.
Support & Resistance: Key support and resistance zones plotted on the chart.
Reversals: Highlights areas with a high likelihood of reversal using diamond markers.
Reversal Bands: Zones where price is likely to reverse or correct.
Trend Lines: Auto-plotted trendlines for quick and easy analysis.
Retest Zones: Ideal for break-and-retest traders, identifying key retest zones for entries and re-entries
Take Profit & Stop Loss: Customizable take profit and stop loss points.
Full Any Alert() Function Call Conditions: Create custom alerts directly to your TradingView device for timely notifications.
Additional features: A set of toggles turning on/off these indicators.
SMRT Algo Pro V3 offers a comprehensive set of features designed to enhance your trading experience by providing actionable insights and customizable tools for all trading styles.
SMRT Algo Pro V3 Confirmation Signals and Candle Coloring
The signals in SMRT Algo Pro V3 can generate both normal and strong labels, with strong signals marked by the "+" symbol. These signals are closely linked to the candle coloring, providing a visual representation of trend development to help navigate various market conditions effectively.
Candle Coloring:
Blue Candles: Indicate bullish trends.
Red Candles: Indicate bearish trends.
Candles will turn blue when there is a buy signal, and turn red when there is a sell signal.
The candle coloring is especially useful when interpreting signals. For instance, a consistent series of blue candles alongside buy signals suggests a strong uptrend, reducing the likelihood of a fake-out. Conversely, a series of red candles with sell signals indicates a strong downtrend.
Dashboard for Multi-Timeframe Analysis
The dashboard provides a consolidated view of multiple timeframes, helping traders make quick decisions based on comprehensive data. This feature reduces the need to switch between charts, streamlining the analysis process.
The dashboard will show the trend of higher timeframes, based on signal calculation and the trend filter.
Note on the dashboard: To reduce memory load, it will only display information from the current timeframe and up.
Trailing Stop Loss
This component workw to maximize profits and manage risk. The Trailing Stop Loss feature provides dynamic stop loss levels. Traders can use this feature to place their stop loss in profit while price goes in favor of your direction, so that less profit is left on the table, should the trade reverse against you.
Green trailing stop loss ranges are shown for buy trades, while red lines are shown for sell trades. This can be used together with the buy & sell signals to trail the stop loss for those trades.
Power MA
The Power MA follows the price closely, indicating short-term market trends and potential exit points. Traders can use the Power MA to determine when to enter a trade. For example, if the Pro V3 prints a buy signal, but the power MA is red (indicating that the market is short term bearish), it can act as a confirmation to stay out of that trade. Conversely, if the power MA is blue, then it can be an added confirmation to enter the buy trade based on the signals.
Market Structure
The inclusion of ChoCh/Bos (Change of Character and Break of Structure) helps traders understand internal and external market shifts. The ChoCh/Bos shows internal market structure, while the Market Structure feature shows the external market structure. This feature is crucial for identifying key turning points and potential trend continuations, as well as ICT traders.
We recommend traders to use this as an added confirmation, for example, once a buy signal is printed, wait for an internal or external Choch/BOS, possibly indicating that the market is now in control of the bulls. From there traders an either enter off another signal from the V3 or wait for the retest from the Retest Zones feature of the V3.
Support & Resistance, Reversals, and Reversal Bands
These features highlight critical market levels and areas where price is likely to reverse or correct. They are essential for traders looking to capitalize on key support and resistance zones or potential reversal points.
They can be used together with the buy & sell signals. An example is when a sell signal appears, we can look for potential trade exits either at the S/R zones, the reversal diamonds that are printed on the candle, or when price touches the reversal bands.
Trend Lines
Auto-plotted trend lines and the trend ribbon provide insights into longer-term trends. They can be used together with the buy sell features of the V3, e.g. if a sell signal is printed, but price is in the lower half of the trend lines, we can assume that price is in an area of premium for our short trade. Traders can choose whether to wait for price to retrace back into an area of discount (top half of the trend line), where they can look to short.
Retest Zones
The Retest Zones feature identifies optimal entry and re-entry points for break-and-retest strategies. As mentioned earlier, this feature can be used together with other features to act as a re-entry or further confirmation before entering a trade.
Traders can wait for a signal to be printed by the V3, and wait for further confrirmation from the retest zones to enter at a better price. This feature can be used together with the signals, and the market structure features to create a simple break & retest strategy.
Take Profit Modes:
SMRT Algo Pro V3 includes a versatile Take Profit Mode designed to help traders optimize their exits:
Hybrid Mode: Displays Take Profit, entry, and stop loss lines on the chart for the current position. Additionally, small circles labeled TP1, TP2, and TP3 indicate the points where take profit levels were hit.
Minimal Mode: Only displays the small circles labeled TP1, TP2, and TP3, providing a cleaner chart view while still indicating take profit hits.
Traditional Mode Only: Displays only the lines for Take Profit, entry, and stop loss, without the small circles.
Take profits are based off of 1:1, 1:2 and 1:3 risk to reward ratio with respect to the stop loss.
These modes offer flexibility for traders to choose their preferred level of detail on the chart, helping them to manage their trades effectively and track their take profit levels clearly.
The features of SMRT Algo Pro V3 can significantly strengthen your market analysis by providing additional confluences. These features allow traders to cross-verify signals and trends, making their strategies more robust and reliable. Here's how you can leverage these features:
SMRT Algo Pro V3 offers a comprehensive suite of tools and features that extend beyond the capabilities of standard or open-source indicators, providing significant additional value to users.
Integrated System: Unlike basic or open-source tools that may require multiple installations and configurations, SMRT Algo Pro V3 combines all necessary indicators into a cohesive system.
Advanced Customization: The toolkit offers extensive customization options, including signal sensitivity adjustments, customizable MA Filters, and various Take Profit Modes. These features allow traders to tailor the system to their specific trading styles and risk tolerance, providing a level of personalization that free tools often lack.
Real-Time Market Adaptation: SMRT Algo Pro V3 includes features like a deep learning dashboard and real-time market data integration, which continuously update and adapt to changing market conditions. This ensures that users receive the most current and relevant signals, enhancing decision-making accuracy.
Educational Support: Alongside the tools, SMRT Algo provides comprehensive educational resources and tutorials, helping traders understand how to effectively use the system and develop robust trading strategies. This educational aspect adds significant value, especially for beginners looking to deepen their knowledge.
Comprehensive Analysis Tools: The inclusion of multi-timeframe analysis, a detailed dashboard, and advanced market structure indicators help traders make more informed decisions by offering a complete picture of market dynamics.
Support and Community: Subscribers to SMRT Algo Pro V3 gain access to dedicated 24/7 support and an active trading community. This support network can be invaluable for troubleshooting, strategy development, and gaining insights from other experienced traders.
SMRT Algo believe that there is no magic indicator that is able to print money. Indicator toolkits provide value via their convinience, adaptibility and uniqueness. Combining these items can help a trader make more educated; less messy, more planned trades and in turn hopefully help them succeed.
RISK DISCLAIMER
Trading involves significant risk, and most day traders lose money. All content, tools, scripts, articles, and educational materials provided by SMRT Algo are intended solely for informational and educational purposes. Past performance is not indicative of future results. Always conduct your own research and consult with a licensed financial advisor before making any trading decisions.
Algo Market Structure (Nephew_Sam_)This indicator takes a different approach into reading market structure.
The key difference between this logic compared to the pivot logic is; we read highs and lows based on bullish and bearish candles. Ie:
Pivot method - highest/lowest point in previous and next X candles
Algo method - Bullish candle(s) followed by a bearish candle and vice versa
More explanation in each of the key feature below.
Here are all of the concepts and features included in the indicator:
Timeframe
- You can select the timeframe of the indicator (has to be higher or equal to the chart timeframe)
- Min option is the minimum timeframe to show the indicator. If you show daily structure on 1m chart, you can run into a timeout error so keep it close to the chart timeframe.
- Recommended timeframe for no bugs is the current chart timeframe.
Structure
The structure is calculated using a combination of candle patterns (ie. pivot top = Bullish x3-Bearish-Bullish) and marks out circle labels after a new HH or LL
Structure high = 1 or more consecutive bull candles followed by a bear candle
Structure low = 1 or more consecutive bear candles followed by a bull candle
Structure direction change = when the second previous H/L is taken out (TLQ)
ILQ - Inducement Liquidity concept
In a bearish example this is the most recent structure high.
TLQ
In a bearish example this is the second most recent structure high.
This is also what helps define our structure direction. If broken, the structure changes (bullish / bearish) and plots a bos line.
EPA - Efficient price action
When price returns back to previous structure point after bos. Similar to an ICT breaker.
Note: It might be a little, just a little buggy if you have set your indicator timeframe to higher than the chart timeframe.
Extremes Zones
The final zone to find a trade entry before a structural shift. These are wick of the TLQ candle. This is select the wick of the current timeframe candle even if indicator is set to higher timeframe.
MSU
Tiny arrow labels at the bottom of your chart. Plots the arrows when price is between an ILQ and TLQ
VTA
Valid trading range. This is when we get some sort of a structure pattern. Plots a box when price induces previous structure point and then breaks structure in the opposite direction. Here are the patterns:
Bull VTA - HH-LL-HH
Bear VTA - LL-HH-LL
Bull Strict VTA - LL-HH-LL-HH
Bear Strict VTA - HH-LL-HH-LL
Bar colors
Changes the bar color based on the structure to all green/red.
Note: for this to work, you will have to right click on the indicator, then under visual order select 'bring to front'
Table
This table plots the structure stats/data
1. If structure is bullish / bearish
2. If price is efficient or not
3. If there is an MSU
4. If price is inside a VTA
Disclaimer: This indicator is fully written from scratch by me, the idea behind the concepts come from AlgoHub material on Youtube. Do NOT use this code for reselling purposes and if anything is created using any part of this code, the source code should be public.
3 Day Lookback [TFO]This 3 Day Lookback indicator aims to display key information about price with respect to its previous 3 day highs and lows. It was built with the intention of being compact in order to not take up a lot of chart space.
The core component of this indicator is the table. From this table, we look at price with respect to the ranges from 1, 2, and 3 days ago, and assign it a color code. By default, we use 🟢, 🟡, and 🔴 to indicate that price is above, stuck inside, or below these ranges, respectively.
Take the following chart as an example. We manually drew these boxes to encompass the range of each day, from high to low. The leftmost box from 3 days ago is colored red to reflect the fact that price is below that day's low. This is why the table indicates a state of 🔴 for the range from 3 days ago. Then, the following two days are colored yellow to indicate that price is currently trading inside their ranges, which is why the state for both of those days is indicated as 🟡 in the table.
In a similar example below, we can see that price is clearly above the high from 3 days ago and the high from 2 days ago, which is reflected in the table with a state of 🟢 for both. However, since price is currently trading within the range from 1 day ago, it is assigned a state of 🟡 in the table.
As you may have noticed in the above examples, each day's high and low is indicated with labels (ex. "2H" and "2L" for the high and low from 2 days ago). These are optional and can be turned off in the indicator's settings. The lines tracking the previous 3 day highs and lows may also be turned off so that you're just left with the table, as is shown in the below example.
With this minimalistic table, users can get a quick glance at how price is trading with respect to the last few days of price action. Hopefully this proves useful for mobile users as well, since the indicator can be reduced to a simple table that doesn't take up much chart space.
Edufx's Power of ThreeIndicator Overview
Name: Edufx's Power of Three
Purpose:
To highlight the high and low price ranges of specific hourly candles on a chart.
To visualize these ranges using rectangles.
Features
Visibility Toggle:
Users can enable or disable the visibility of the rectangles highlighting the high and low price ranges of the specified candles.
Customizable Rectangle Length:
Users can adjust the length of the rectangles that extend from the specified candle's high and low prices.
Price Range Tracking:
The high and low prices of the specified candles are tracked and stored.
Rectangle Drawing:
Rectangles are drawn from 5 bars before the end of the specified hour, highlighting the high and low price ranges.
How It Works
Price Range Tracking:
During each specified hour, the high and low prices are updated with the highest and lowest prices observed.
Rectangle Drawing:
At the end of each specified hour, the high and low prices are used to draw rectangles extending 5 bars backward from the end of the hour.
Rectangles are color-coded (red, green, and blue) for easy identification.
Usage
This indicator is useful for traders who want to monitor and react to key price levels at specific times of the day.
The visual rectangles help in identifying potential trading opportunities based on price action relative to these key levels.
Example
If the price moves above the high of the specified candle but fails to close above it, a visual rectangle will highlight this price range.
Similarly, if the price moves below the low of the specified candle but fails to close below it, the rectangle will indicate this range.
This indicator provides visual aids to assist traders in making informed decisions based on the behavior of price at specific key levels.
London Killzone + Deviations[MK]For traders that use the London Killzone session high/low to project possible take profit targets.
The indicator will determine the current day London killzone high and low range and draw a range box to the right of the last candle on the chart. Drawing to the right of the chart keeps the workspace cleaner.
The high/low range is then used to project Standard Deviation levels above and below the London range.
Levels projected are +/- 1, 2, 2.5, 3, 4.
Users of the script should conduct proper backtesting using a large data range before applying to live accounts.
Curved Smart Money Concepts Probability (Zeiierman)█ Overview
The Curved Smart Money Concepts Probability indicator, developed by Zeiierman, is a sophisticated trading tool designed to leverage the principles of Smart Money trading. This indicator identifies key market structure points and adapts to changing market conditions, providing traders with actionable insights into market trends and potential reversals. The trading tool stands out due to its unique curved structure and advanced probability features, which enhance its effectiveness and usability for traders.
█ How It Works
The indicator operates by analyzing market data to identify pivotal moments where institutional investors might be influencing price movements. It employs a combination of adaptive trend lengths, multipliers for sensitivity adjustments, and pivot periods to accurately capture market structure shifts. The indicator calculates upper and lower bands based on adaptive sizes and identifies zones of overbought (premium) and oversold (discount) conditions.
Key Features of Probability Calculations
The Curved Smart Money Concepts Probability indicator integrates sophisticated probability calculations to enhance trading decision-making:
Win/Loss Tracking: The indicator tracks the number of successful (win) and unsuccessful (loss) trades based on the identified market structure points (ChoCH, SMS, BMS). This provides a historical context of the indicator's performance.
Probability Percentages: For each market structure point (ChoCH, SMS, BMS), the indicator calculates the probability of the next move being successful or not. This is presented as a percentage, giving traders a quantifiable measure of confidence in the signals.
Dynamic Adaptation: The probability calculations adapt to market conditions by considering the frequency and success rate of the signals, allowing traders to adjust their strategies based on the indicator’s historical accuracy.
Visual Representation: Probabilities are displayed on the chart, helping traders quickly assess the likelihood of future price movements based on past performance.
Key benefits of the Curved Structure
The Curved Smart Money Concepts Probability indicator features a unique curved structure that offers several advantages over traditional linear structures:
Noise Reduction: The curved structure smooths out short-term market fluctuations, reducing the noise often seen in linear structures. This helps traders focus on the true trend direction rather than getting distracted by minor price movements.
Adaptive Sensitivity: The curved structure adjusts its sensitivity based on market conditions. This means it can effectively capture both short-term and long-term trends by dynamically adapting to changes in market volatility, something linear structures struggle with.
Enhanced Trend Detection: By providing a more gradual transition between market phases, the curved structure helps in identifying trends more accurately. This is particularly useful in volatile markets where linear structures might give false signals due to their rigid nature.
Improved Market Structure Analysis: The curved structure's ability to adapt and smooth out irregularities provides a clearer picture of the overall market structure. This clarity is essential for identifying premium and discount zones, as well as mid-range support and resistance levels, which are crucial for effective ICT Smart Money Trading.
█ Terminology
ChoCH (Change of Character): Indicates a potential reversal in market direction. It is identified when the price breaks a significant high or low, suggesting a shift from a bullish to bearish trend or vice versa.
SMS (Smart Money Shift): Represents the transition phase in market structure where smart money begins accumulating or distributing assets. It typically follows a BMS and indicates the start of a new trend.
BMS (Bullish/Bearish Market Structure): Confirms the trend direction. Bullish Market Structure (BMS) confirms an uptrend, while Bearish Market Structure (BMS) confirms a downtrend. It is characterized by a series of higher highs and higher lows (bullish) or lower highs and lower lows (bearish).
Premium: A zone where the price is considered overbought. It is calculated as the upper range of the current market structure and indicates a potential area for selling or shorting.
Mid Range: The midpoint between the high and low of the market structure. It often acts as a support or resistance level, helping traders identify potential reversal or continuation points.
Discount: A zone where the price is considered oversold. It is calculated as the lower range of the current market structure and indicates a potential area for buying or going long.
█ How to Use
Identifying Trends and Reversals: Traders can use the indicator to identify the overall market trend and potential reversal points. By observing the ChoCH, SMS, and BMS signals, traders can gauge whether the market is transitioning into a new trend or continuing the current trend.
Example Strategies
⚪ Trend Following Strategy:
Identify the current market trend using BMS signals.
Enter a trade in the direction of the trend when the price retraces to the mid-range zone.
Set a stop-loss just below the mid-range (for long trades) or above the mid-range (for short trades).
Take profit in the premium/discount zone or when a ChoCH signal indicates a potential reversal.
⚪ Reversal Strategy:
Wait for a ChoCH signal to identify a potential market reversal.
Enter a trade in the direction of the new trend as indicated by the SMS signal.
Set a stop-loss just beyond the recent high (for short trades) or low (for long trades).
Take profit when the price reaches the premium or discount zone opposite to the entry.
█ Settings
Curved Trend Length: Determines the length of the trend used to calculate the adaptive size of the structure. Adjusting this length allows traders to capture either longer-term trends (for smoother curves) or short-term trends (for more reactive curves).
Curved Multiplier: Scales the adjustment factors for the upper and lower bands. Increasing the multiplier widens the bands, reducing sensitivity to price changes. Decreasing it narrows the bands, making the structure more responsive.
Pivot Period: Sets the period for capturing trends. A higher period captures broader trends, while a lower period focuses on short-term trends.
Response Period: Adjusts the structure’s responsiveness. A low value focuses on short-term changes, while a high value smoothens the structure.
Premium/Discount Range: Allows toggling between displaying the active range or previous range to analyze real-time or historical levels.
Structure Candles: Enables the display of curved structure candles on the chart, providing a modified view of price action.
-----------------
Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
FVG Instantaneous Mitigation Signals [LuxAlgo]The FVG Instantaneous Mitigation Signals indicator detects and highlights "instantaneously" mitigated fair value gaps (FVG), that is FVGs that get mitigated one bar after their creation, returning signals upon mitigation.
Take profit/stop loss areas, as well as a trailing stop loss are also included to complement the signals.
🔶 USAGE
Instantaneous Fair Value Gap mitigation is a new concept introduced in this script and refers to the event of price mitigating a fair value gap one bar after its creation.
The resulting signal sentiment is opposite to the bias of the mitigated fair value gap. As such an instantaneously mitigated bearish FGV results in a bullish signal, while an instantaneously mitigated bullish FGV results in a bearish signal.
Fair value gap areas subject to instantaneous mitigation are highlighted alongside their average level, this level is extended until reached in a direction opposite to the FVG bias and can be used as a potential support/resistance level.
Users can filter out less volatile fair value gaps using the "FVG Width Filter" setting, with higher values highlighting more volatile fair value gaps subject to instantaneous mitigation.
🔹 TP/SL Areas
Users can enable take-profit/stop-loss areas. These are displayed upon a new signal formation, with an area starting from the mitigated FVG area average to this average plus/minus N ATRs, where N is determined by their respective multiplier settings.
Using a higher multiplier will return more distant areas from the price, requiring longer-term variations to be reached.
🔹 Trailing Stop Loss
A trailing-stop loss is included, increasing when the price makes a new higher high or lower low since the trailing has been set. Using a higher trailing stop multiplier will allow its initial position to be further away from the price, reducing its chances of being hit.
The trailing stop can be reset on "Every Signal", whether they are bullish or bearish, or only on an "Inverse Signal", which will reset the trailing when a signal of opposite bias is detected, this will preserve an existing trailing stop when a new signal of the same bias to the present one is detected.
🔶 DETAILS
Fair Value Gaps are ubiquitous to price action traders. These patterns arise when there exists a disparity between supply and demand. The action of price coming back and filling these imbalance areas is referred to as "mitigation" or "rebalancing".
"Instantaneous mitigation" refers to the event of price quickly mitigating a prior fair value gap, which in the case of this script is one bar after their creation. These events are indicative of a market more attentive to imbalances, and more willing to correct disparities in supply and demand.
If the market is particularly sensitive to imbalances correction then these can be excessively corrected, leading to further imbalances, highlighting a potential feedback process.
🔶 SETTINGS
FVG Width Filter: Filter out FVGs with thinner areas from returning a potential signal.
🔹 TP/SL
TP Area: Enable take-profit areas for new signals.
Multiplier: Control the distance from the take profit and the price, with higher values returning more distant TP's.
SL Area: Enable stop-loss areas for new signals.
Multiplier: Control the distance from the stop loss and the price, with higher values returning more distant SL's.
🔹 Trailing Stop
Reset Trailing Stop: Determines when the trailing stop is reset.
Multiplier: Controls the initial position of the trailing stop, with higher values returning more distant trailing stops.
Liquidity Swings & SweepsThis Pine script indicator is designed to create a visual representation liquidity as identified by swing Highs/Lows along with an indication of the liquidity level that was swept, optionally rating the strength of the sweep based on time & price.
Relevance:
Liquidity levels & sweeps are crucial for many SMC/ICT setups and can indicate a point at which the price changes direction or may re-trace in an opposite direction to provide additional liquidity for continued move in the original direction. Additionally, liquidity levels may provide targets for setups, as price action will often seek to take out those levels as they main contain many buy/sell stops.
How It Works:
The indicator tracks all swing points, as identified using user-defined strength of the swing. Once a swing is formed that meets the criteria, it is represented by a horizontal line starting at the price of the current swing until the last bar on the chart. While the swing is valid, this line will continue to be extended until the swing is invalid or a new swing is formed. Upon identifying a new swing, the indicator then scans the earlier swings in the same direction looking for a point of greatest liquidity that was taken by the current swing. This level is then denoted by dashed horizontal line, connecting earlier swing point to the current. At the same time any liquidity zones between the two swings are automatically removed from the chart if they had previously been rendered on the chart. If the setting to enable scan for maximum liquidity is enabled, then while looking back, the indicator will look for lowest low or highest high that was taken by the current swing point, which may not be a swing itself, however, is a lowest/highest price point taken (mitigated) by the current swing, which in many cases will be better price then then the one represented by previous swing. If the option to render sweep label is enabled, the sweep line will also be completed by a label, that will score the sweep and a tooltip showing the details of the level swept and the time it took to sweep it. The score explained further in configurability section ranks the strength of the sweep based on time and is complemented by price (difference in price between the two liquidity levels).
Configurability:
A user may configure the strength of the swing using both left/right strength (number of bars) as well as optionally instruct the indicator to seek the lowest/highest price point which may not be previous swing that was taken out by newly formed swing.
From appearance perspective liquidity level colors & line width presenting the liquidity/swing can be configured. There is also an option to render the liquidity sweep label that will generate an icon-based rating of the liquidity sweep and a tooltip that provides details on the scope of the swing, which includes liquidity level swept and when it was formed along with the time it took to sweep the liquidity.
Rating is of sweeps is primarily based on time with a secondary reference to price
💥- Best rating, very strong sweep with an hourly or better liquidity sweep
🔥- Second rating, strong sweep with 15 – 59 minute liquidity sweep, or 5+ minute sweep of 10+ points
✅- Third rating, ok sweep with 5 - 15 minute liquidity sweep, or lower-time-frame sweep of 10+ points
❄️ - Weakest sweep, with liquidity of 5 or less minutes swept
What makes this indicator different:
Designed with high performance in mind, to reduce impact on chart render time.
Only keeps valid liquidity levels & sweeps on the chart
Automatically removes previously taken liquidity levels
Ranks liquidity sweeps to indicate strength of the sweep
Fair Value Gap (FVG) Oscillator [UAlgo]The "Fair Value Gap (FVG) Oscillator " is designed to identify and visualize Fair Value Gaps (FVG) within a given lookback period on a trading chart. This indicator helps traders by highlighting areas where price gaps may signify potential trading opportunities, specifically bullish and bearish patterns. By leveraging volume and Average True Range (ATR) data, the FVG Oscillator aims to enhance the accuracy of pattern recognition and provide more reliable signals for trading decisions.
🔶 Identification of Fair Value Gap (FVG)
Fair Value Gaps (FVG) are specific price areas where gaps occur, and they are often considered significant in technical analysis. These gaps can indicate potential future price movements as the market may return to fill these gaps. This indicator identifies two types of FVGs:
Bullish FVG: Occurs when the current low price is higher than the high price two periods ago. This condition suggests a potential upward price movement.
Obtains with:
low > high
Bearish FVG: Occurs when the current high price is lower than the low price two periods ago. This condition suggests a potential downward price movement.
Obtains with:
high < low
The FVG Oscillator not only identifies these gaps but also verifies them using volume and ATR conditions to ensure more reliable trading signals.
🔶 Key Features
Lookback Period: Users can set the lookback period to determine how far back the indicator should search for FVG patterns.
ATR Multiplier: The ATR Multiplier is used to adjust the sensitivity of the ATR-based conditions for verifying FVG patterns.
Volume SMA Period: This setting determines the period for the Simple Moving Average (SMA) of the volume, which helps in identifying high volume conditions.
Why ATR and Volume are Used?
ATR (Average True Range) and volume are integrated into the Fair Value Gap (FVG) Oscillator to enhance the accuracy and reliability of the identified patterns. ATR measures market volatility, helping to filter out insignificant price gaps and focus on impactful ones, ensuring that the signals are relevant and strong. Volume, on the other hand, confirms the strength of price movements. High volume often indicates the sustainability of these movements, reducing the likelihood of false signals. Together, ATR and volume ensure that the detected FVGs are both significant and supported by market activity, providing more trustworthy trading signals.
Normalized Values: The FVG counts are normalized to enhance the visual representation and interpretation of the patterns on the chart.
Visual Customization and Plotting: Users can customize the colors for positive (bullish) and negative (bearish) areas, and choose whether to display these areas on the chart, also plots the bullish and bearish FVG counts, a zero line, and the net value of FVG counts. Additionally, it uses histograms to display the width of verified bullish and bearish patterns.
🔶 Disclaimer:
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
HTF OverlayThe "HTF Overlay" indicator provides a fully customizable higher timeframe (HTF) candle overlay on your current chart, designed to enhance your analysis and trading strategies. This tool is particularly useful for traders utilizing ICT's AMD power of three strategies, focusing on key candle OHLC/OLHC expansions, or those who need a quick reference to a higher timeframe without switching charts.
Originality and Usefulness:
The "HTF Overlay" script stands out due to its seamless integration of HTF candles onto lower timeframe charts. It ensures the current developing candle is left untouched, preserving the clarity of ongoing market activity. This feature is crucial for traders who need to analyze market structure on a smaller timeframe within the context of a larger timeframe candle.
Functionality:
Dynamic HTF Candle Display:
The script overlays HTF candles, updating them in real-time as new HTF candles form. This allows traders to see historical price behavior and trends alongside the current price action.
Visual Customization:
Users can adjust various aspects of the HTF candles, including the number of candles displayed, body colors, wick colors, wick thickness, and transparency levels for both body and wick. This ensures the overlay fits seamlessly with any chart setup.
Real-time Updates:
The indicator updates dynamically, ensuring that the HTF candles remain relevant to the current market conditions without affecting the developing candle.
How It Works:
Data Retrieval: The script uses the request.security function to fetch HTF data, including open, high, low, close, time, and time close values.
Candle Overlay: It calculates the visual parameters for the HTF candles (body and wick positions, colors, and transparency) and overlays them on the chart.
Update Mechanism: The script differentiates between new and ongoing candles, updating the current candle in real-time without disrupting its development.
How to Use:
Setup:
Select the higher timeframe you want to overlay (e.g., 240 minutes for 4-hour candles).
Specify the number of HTF candles to display.
Customize the appearance of the HTF candles, including colors and transparency settings for both the body and wicks.
Interpretation:
Use the HTF overlay to validate trading decisions by analyzing price action from a broader perspective.
Identify key support and resistance levels, trend directions, and potential reversal points by comparing current price action with HTF structures.
Integration:
Combine this indicator with other tools your strategy may use for a more comprehensive analysis.
Use it in conjunction with the first and last candle highlight feature to quickly identify key reference points and enhance your trading strategy.
Conclusion:
The "HTF Overlay" indicator is a versatile and essential tool for traders who need to incorporate higher timeframe analysis into their trading strategies. Its customizable features and real-time updates provide a deeper insight into market dynamics, helping traders make more informed decisions. Whether used for trend confirmation, breakout identification, or support/resistance analysis, this indicator enhances your ability to navigate the markets effectively.
Order Blocks & Breaker Blocks [TradingFinder] Signals + Alerts🔵 Introduction
Order Block and Breaker Block, are powerful tools in technical analysis. By understanding these concepts, traders can enhance their ability to predict potential price reversals and continuations, leading to more effective trading strategies.
Using historical price action, volume analysis, and candlestick patterns, traders can identify key areas where institutional activities influence market movements.
🟣 Demand Order Block and Supply Breaker Block
Demand Order Block : A Demand Order Block is formed when the price succeeds in breaking the previous high pivot.
Supply Breaker Block : A Supply Breaker Block is formed when the price succeeds in breaking the Demand Order Block. As a result, the Order Block changes its role and turns from the role of price support to resistance.
🟣 Supply Order Block and Demand Breaker Block
Supply Order Block : A Supply Order Block is formed when the price succeeds in breaking the previous low pivot.
Demand Breaker Block : A Demand Breaker Block is formed when the price succeeds in breaking the Supply Order Block. As a result, the Order Block changes its role and turns from the role of price resistance to support.
🔵 How to Use
🟣 Order Blocks (Supply and Demand)
Order blocks are zones where the likelihood of a price reversal is higher. In demand zones, buying opportunities arise, while in supply zones, selling opportunities can be explored.
The "Refinement" feature allows you to adjust the width of the order block to fit your trading strategy. There are two modes in the "Order Block Refine" feature: "Aggressive" and "Defensive." The primary difference between these modes is the width of the order block.
For risk-averse traders, the "Defensive" mode is ideal as it offers a lower loss limit and a higher reward-to-risk ratio.
Conversely, for traders who are willing to take more risks, the "Aggressive" mode is more suitable. This mode, with its wider order block width, caters to those who prefer entering trades at higher prices.
🟣 Breaker Blocks (Supply and Demand)
Trading based on breaker blocks is the same as order blocks and the price in these zones is likely to be reversed.
🔵 Setting
🟣 Global Setting
Pivot Period of Order Blocks Detector : Enter the desired pivot period to identify the Order Block.
Order Block Validity Period (Bar) : You can specify the maximum time the Order Block remains valid based on the number of candles from the origin.
Mitigation Level Order Block : Determining the basic level of a Order Block. When the price hits the basic level, the Order Block due to mitigation.
Mitigation Level Breaker Block : Determining the basic level of a Breaker Block. When the price hits the basic level, the Breaker Block due to mitigation.
Switching Colors Theme Mode : Three modes "Off", "Light" and "Dark" are included in this parameter. "Light" mode is for color adjustment for use in "Light Mode".
"Dark" mode is for color adjustment for use in "Dark Mode" and "Off" mode turns off the color adjustment function and the input color to the function is the same as the output color.
🟣 Order Block Display
Show All Order Block : If it is turned off, only the last Order Block will be displayed.
Demand Main Order Block : Show or not show and specify color.
Demand Sub (Propulsion & BoS Origin) Order Block : Show or not show and specify color.
Supply Main Order Block : Show or not show and specify color.
Supply Sub (Propulsion & BoS Origin) Order Block : Show or not show and specify color.
🟣 Breaker Block Display
Show All Breaker Block : If it is turned off, only the last Breaker Block will be displayed.
Demand Main Breaker Block : Show or not show and specify color.
Demand Sub (Propulsion & BoS Origin) Breaker Block : Show or not show and specify color.
Supply Main Breaker Block : Show or not show and specify color.
Supply Sub (Propulsion & BoS Origin) Breaker Block : Show or not show and specify color.
🟣 Order Block Refinement
Refine Order Blocks : Enable or disable the refinement feature. Mode selection.
🟣 Alert
Alert Name : The name of the alert you receive.
Alert Demand OB Mitigation :
On / Off
Alert Demand BB Mitigation :
On / Off
Alert Supply OB Mitigation :
On / Off
Alert Supply BB Mitigation :
On / Off
Message Frequency :
This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone :
The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
Display More Info :
Displays information about the price range of the order blocks (Zone Price) and the date, hour, and minute under "Display More Info".
If you do not want this information to appear in the received message along with the alert, you should set it to "Off".
Market Structures + ZigZag [TradingFinder] CHoCH/BOS - MSS/MSB🟣 Introduction
🔵 Market Structure
Grasping market structure entails examining market behavior. Essentially, market structure refers to the formation and progression of the market within its trends.
Market structures are generally fractal and nested, leading us to classify them into internal (minor) and external (major) structures. There are several definitions of market structure, with differing perspectives such as Smart Money and ICT offering their own interpretations.
🔵 Zig Zag
The Zigzag indicator is a lagging tool that identifies points on a price chart where significant changes occur compared to the previous wave. By connecting these points, it helps traders detect trends.
This indicator minimizes random price fluctuations, aiming to clarify the primary price trend.
Pivots are points on a price chart where the direction changes. Also known as reversal points, pivots form when supply and demand forces overpower one another.
There are various types of technical analysis pivots, which can be divided into two categories: minor pivots and major pivots, each with distinct significance in analysis.
Major Pivot : These pivots signify substantial changes in the chart's direction and occur at the end of trends. Analysts focusing on primary analysis prioritize major pivot points. In fact, most technical analysis tools are evaluated and based on major pivots.
Minor Pivot : These pivots highlight smaller, subsidiary points and directions, appearing at the end of corrections. Analysts who focus on minor pivots represent small trends. It's important to note that minor pivots are not suitable for use in primary technical tools.
Identifying Minor and Major Pivots :
Minor pivots are formed between two major pivots and do not break the opposing major pivot. (Internal Pivot)
Major pivots are those that either successfully break the opposing pivot or move beyond the previous pivot of the same type. (External Pivot)
🟣 How to Use
🔵 Identifying Break of Structure (BOS)
In a given trend, such as a downtrend, a Break of Structure occurs when the price drops below the previous low and forms a new low (LL). In an uptrend, a BOS (MSB) happens when the price rises and exceeds the last high.
To confirm a trend, at least one BOS is required. The break above or below the previous high or low must be validated by the closing of at least one candle beyond that level.
🔵 Identifying Change of Character (CHOCH)
Change of Character (CHOCH) is an essential concept in market structure analysis, indicating a trend change. In other words, a trend concludes with a CHOCH (MSS). For example, in a downtrend, the price declines with BOS.
While BOS highlights the trend's strength, a CHOCH occurs when the price rises and surpasses the last high, signaling a transition from a downtrend to an uptrend.
This does not imply immediately entering a buy trade; instead, it is prudent to wait for a BOS in the upward direction to confirm the uptrend.
Unlike BOS, confirming a CHOCH does not require a candle to close; simply breaking above or below the previous high or low with the candle's wick is sufficient. The following examples illustrate bearish and bullish CHOCH.
Terms :
Market Structure Shift = MSS
Market Structure Break = MSB
🔵 Zig Zag
Based on identifying pivots and drawing zigzag lines, you can have different uses of this indicator.
Including :
Identifying pivot types along with major and minor recognition.
Identifying internal and external breakouts.
Identifying support and resistance levels.
Identifying Elliott Waves.
Identifying classic patterns.
Identifying pivots with higher validity.
Identifying trends and range areas.
🟣 Settings
Pivot Period Market Structure and ZigZag Line: Using this input, you can determine the pivot period for identifying swings.
Through the settings, you can customize the display, visibility, and color of each line as desired.
Equal Highs and LowsDescription:
The ‘Equal Highs and Lows’ indicator is a technical analysis tool that marks identical price levels on a trading chart using the current time-frame, assisting traders in identifying potential support and resistance zones or liquidity draws. It creates a horizontal line connecting points where the price has created equal highs and lows within a specified lookback period. Unique to this tool, it maintains a clean chart by removing the line once the price surpasses the equal highs or falls below the equal lows, ensuring only the currently relevant equal highs and lows are highlighted.
Features:
Customization Options: Users can adjust the appearance of the lines (color, width, and style) to match their chart setup or preferences. Users can also choose to extend the lines marking the equal highs/lows to the right of the chart making the equal high/low levels more easier to visualize.
User-Defined Lookback Length: The number of bars to look back for finding equal highs and lows can be set by the user, allowing for flexibility in different market conditions.
How It Works:
The indicator meticulously scans the chart over a user-specified lookback duration, identifying bars with matching high or low values that have not been mitigated on the current chat timeframe, thereby constructing an index of equal values. It subsequently connects these equal values on the chart with a line. While this intuitive indicator does not forecast future market trends, it emphasizes significant price levels derived from historical data.
Usage:
Identifying Support and Resistance: The lines drawn by the indicator can be used to identify potential support and resistance zones and/or draws of liquidity, which are crucial for making informed trading decisions.
Strategy Development: Traders can incorporate the visual cues provided by the indicator into their trading strategies, using them as one of the factors for entry or exit decisions.
Originality:
This indicator presents a distinctive method for pinpointing and illustrating equal highs and lows, granting traders a crucial insight into key price levels. It stands apart from conventional indicators by offering extensive personalization and employing a novel approach to augment chart analysis. Uniquely, it retains only unmitigated equal high/low levels on the chart, automatically discarding mitigated price levels once the price has reached that level.
Conclusion:
The "Equal Highs and Lows" indicator is a practical tool for traders looking to enhance their chart analysis with visual cues of significant price levels. Its customization options and innovative approach make it a valuable addition to the trading toolkit, suitable for various trading styles and strategies.
Market Structure Targets Model [LuxAlgo]The Market Structure Targets Model indicator provides an algorithmic approach to setting targets from market structure shifts (MSS) and market structure breaks (MSB), two popular Smart Money Concept (SMC) concepts. Depending on the target % settings, they can be used as take profit, confirmation levels, or potential reversal points.
🔶 USAGE
Our Market Structure Targets Model scripts provide automated and customizable targets from MSS and MSB. Each displayed target can be used in several ways described in the sub-sections below:
🔹 Take Profit
The targets can be used as take profit levels, where the target distance can be set separately for bullish/bearish MSS/MSB respectively.
🔹 Confirmation Levels
Alternatively, targets can be used as an additional confirmation level of a trend reversal when set at a lower percentage, filtering out fake signals that might be given from market structures. In this way, targets can be used as potential entry levels.
🔹 Potential Reversal Points
In some circumstances, targets being reached can be indicative of trend reversals. The percentage of the targets would be typically set higher to allow for trend exhaustion.
The above examples highlight this usage for bearish reversal scenarios, while the image below highlights it for bullish reversal scenarios.
🔹 Support/Resistance Levels
The targets, being horizontal levels, can also serve as potential support/resistances, with breakouts potentially confirming new trends. It is important to remain observant of the market structure. An MSS or MSB in the opposite direction provides essential information to be included in future decisions.
Using multiple timeframes can help detect longer-term trends. Depending on the user's preference, they can choose the appropriate timeframe for their needs.
Note that Target lines will only be drawn when the Target Level exceeds the close value when it is drawn.
🔹 Maximum Target Duration
The Maximum Target Duration setting removes unreached target levels when the amount of bars since the associated market structure of that target exceeds the user set limit. This effectively allows the removal of any target that might no longer be relevant to newer trends.
🔹 Type: Switch/Hold
This setting is another way to control unreached target levels.
Switch: When a new MSS/MSB is found, the previous target level associated with a market structure with the same direction (bullish/bearish) is deleted if it hasn't been reached.
Hold: Target levels are retained and continuously evaluated when a new MSS/MSB is formed.
The target level will be removed in both cases when the Maximum Target Duration condition is applied.
The above example shows the case when the Type setting is set to Switch , while in the example below, it is set to Hold .
🔶 DETAILS
🔹 Market Structure
Market structures are commonly classified as follows:
Market Structure Shift (MSS), also referred to as Change of Character (CHoCH)
Market Structure Break (MSB), also referred to as Break of Structure (BOS)
MSS indicates a shift in the market trend, confirming trend reversals. Conversely, MSB occurs once a trend is already determined, confirming new higher highs/lower lows.
🔹 Targets
A: Highest/lowest between the extremities of the MSS/MSB line
B: Price value of the MSS/MSB line
The distance between A and B is projected on the opposite side of the MSS/MSB line, adjusted with a percentage that can be set by the user. The above example used 100% of the distance between A and B.
The Target Percentage of MSS and MSB can be set separately for bullish or bearish market structures.
🔶 SETTINGS
Swings: Period used for the swing detection, with higher values returning longer-term Swing Levels.
Type: the Switch/Hold setting controls unattained target levels
Maximum Target Duration: removes the target lines when the amount of bars since the drawing of the target exceeds the limit and the target has not been reached
🔹 Market Structure Shift (MSS)
Bullish: Toggle, color setting, % Target
Bearish: Toggle, color setting, % Target
🔹 Market Structure Break (MSB)
Bullish: Toggle, color setting, % Target
Bearish: Toggle, color setting, % Target
Horizontal Sessions - B A N K $This is a simple indicator that has been designed to aid intraday trading and has only 1 function;
Information ℹ️
This indicator prints Horizontal Lines in a separate chart pane above/below for the 3 main session killzones in the markets; Asia, London & New York + Optimal Exit Time.
The indicator is only visible up to and including the 1h timeframe.
Settings ⚙️
The default timings are set to perfectly align with each session killzone however the Start & End times for each session can be changed in the settings.
You can change the colour & line thickness of the horizontal lines in the settings.
B A N K $ - Advanced Session RangesThis is a simple indicator that has been designed to aid intraday trading and has a few components;
Key Features
Session Ranges + Optimal Exit Time
Asia Pip Range
New York Midnight Open Line
Session Ranges + Optimal Exit Time
Information ℹ️
This is a visual depiction of the 3 main sessions in the markets. Asia, London & New York. The default timings are set to perfectly align with each session however the Start & End times for each session can be changed in the settings. (I've added a website on the tooltip to easily convert timezones)
I have also added a 4th session range called "Optimal Exit Time". This is statistically the most probable time window for the opposite High / Low of Day to form is within this window. It helps the trader understand when they should look to take profit.
How It Works 🔑
The indicator automatically maps on two lines for the High & Low of the range between the selected Start & End time, it also colours the background.
The individual lines & background can be toggled & customised to the traders preference.
Asia Pip Range
Information ℹ️
This displays the Asia Range in pips beneath the Asia Session Low.
How It Works 🔑
This calculates the distance between the Asia High - Asia Low in pips. It will automatically recalibrate to the timings the trader sets in the settings if they change the Start / End.
New York Midnight Open Line
Information ℹ️
This helps look for Buys beneath the line for a Bullish Expansion day 📈 & Sells above the line for a Bearish Expansion day 📉
How It Works 🔑
This adds a horizontal line to the chart that is anchored to New York Midnight Open (00:00) by default. It can be changed in the settings in required. You can also toggle on the time being shown above the line.
Market Structures SMC [TradingFinder] BOS/CHoCH Major & Minor🟣Introduction
Understanding market structure involves analyzing market behavior. In other words, market structure encompasses how the market forms and evolves within trends.
Market structures are typically fractal and nested, so we categorize them into internal (minor) and external (major) structures. There are various definitions of market structure, with different approaches such as Smart Money and ICT providing their own interpretations.
🟣How to Use
The first step in identifying market structure is to analyze key highs and lows. An uptrend is formed when highs and lows are successively higher than previous ones. Similarly, in a downtrend, lows and highs are successively lower than previous ones.
Market trends consist of two types of movements :
•Impulsive movements
•Corrective movements
Impulsive movements align with the main trend and possess high strength and momentum. Conversely, corrective movements go against the main trend and have lower strength and momentum. The following example illustrates these concepts.
🔵 Identifying Break of Structure (BOS)
In a specific trend, for example in a downtrend, when the price breaks below the previous low and forms a new low (LL), a Break of Structure occurs. In an uptrend, a BOS (Market Structure Break or MSB) happens when the price rises and surpasses the last high.
We need at least one BOS to confirm a trend. Breaking above or below the previous high or low must be confirmed by closing at least one candle after that level.
🔵 Identifying Change of Character (CHOCH)
Change of Character (CHOCH) is a key concept in market structure analysis. A change in structure signals a trend change. In other words, a trend ends with a CHOCH (Market Structure Shift or MSS). For instance, in a downtrend, the price declines with BOS.
BOS indicates the strength of the trend, but when the price increases and surpasses the last high, a CHOCH occurs, signaling a shift from a downtrend to an uptrend.
This does not mean entering a buy trade; instead, we should wait for a BOS in the upward direction to confirm the uptrend. Unlike BOS, confirming a CHOCH does not require a candle to close; simply breaking above or below the previous high or low with the candle's wick is sufficient. The following examples show bearish and bullish CHOCH.
🔵 Range Market Structure
Besides uptrends and downtrends, a third structure often found in the market is the range or sideways structure. In this state, the power of buyers and sellers is almost equal, and the market lacks a clear trend.
Many traders believe that the Forex market ranges 80% of the time. Therefore, it requires a lot of patience to wait for a new trend to start.
🟣 Settings
Through the settings, you can customize the display, visibility, and color of each line as desired.
Liquidity Grab Zones | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Liquidity Grab Zones Indicator! This indicator finds liquidity grabs in the current ticker and renders buyside & sellside liquidity grab zones. The retests and breakout of the zones are labeled, and you can set up alerts to get notified. For more information, please check the "HOW DOES IT WORK" section.
Features of the new Liquidity Grab Zones Indicator :
Renders Buyside & Sellside Liquidity Grab Zones
Retests & Breaks
Inverse Zones After Broken Feature
Alerts For All Features
Customizable Algorithm
Customizable Styles
🚩UNIQUENESS
Liquidity grabs can be useful when determining candles that have executed a lot of market orders, so you can plann your trades accordingly. This indicator lets you customize the pivot length and the wick-body ratio for liquidity grabs, provide retest & breakout labels, with customized styling and alerts.
📌 HOW DOES IT WORK ?
Liquidity grabs occur when one of the latest pivots has a false breakout. Then, if the wick to body ratio of the bar is higher than 0.5 (can be changed from the settings) a zone is plotted.
These zones usually indicate areas of high market interest where price action may reverse or accelerate. Identifying these zones can provide traders with critical levels for entering or exiting trades. A breakout of these zones generally mean strong movements are inbound, while failing breakouts make these zones act like support / resistance zones.
The indicator also reverses the type of the zone after an invalidation (can be turned off from the settings). This feature helps traders identify potential reversals more accurately.
The zone width is set to the area from the wick to the body of the candlestick, which can be seen here :
⚙️SETTINGS
1. General Configuration
Pivot Length -> This setting determines the range of the pivots. This means a candle has to have the highest / lowest wick of the previous X bars and the next X bars to become a high / low pivot.
Wick-Body Ratio -> After a pivot has a false breakout, the wick-body ratio of the latest candle is tested. The resulting ratio must be higher than this setting for it to be considered as a liquidity grab.
Zone Invalidation -> Select between Wick & Close price for Liquidity Grab Zone Invalidation.
Use these customizable settings to fine-tune the indicator according to your trading strategy and preferences.
Trend Bars (HTF PO3)Hello Traders!
The innovative TRN Trend Bars are designed to help traders to analyze markets in an intuitive way. The TRN Trend Bars show bullish and bearish trends and reversals based on color coding the bars and give high probability trade opportunities.
How does the Trend Detection work in detail?
The trend analysis is based on a new algorithm that includes several different inputs:
detection of classical and advanced bar patterns
the statistical frequency of these bar patterns and their statistical outcomes are computed based on historical data
probability distributions of price expansions after certain bar patterns
bar information such as wick length in %, overlapping of the previous bar in % and many more
The algorithm weighs these inputs and computes the likelihood of a trend continuation, or a reversal. The likelihood is computed based on statistical information such as occurrence frequency of certain patterns and their historical performance.
The algorithm then outputs a color scheme for the chart bars.
Analyzing the market with the TRN Trend Bar color scheme
Green Bars signify a bullish uptrend. On the other hand, Red Bars indicate a bearish downtrend. The transition from red to green denotes a bullish trend reversal. Conversely, the shift from green to red signals a bearish trend reversal. By monitoring these color changes, traders can identify potential trend reversals and make informed trading decisions.
The presence of gray and black bars indicates a neutral market state, often observed before an impending color change from red to green or green to red. These neutral bars serve as a transition phase between the previous trend and the potential reversal.
How to use TRN Trend Bars for trading?
The TRN Trend Bars are very sensitive. Therefore, they make it easy to find strong short-term trends and pullbacks of the main trend. This can result in high probability entry and exit signals. Here are some trading strategies examples:
Breakouts
After an up breakout of a consolidation or range (or any other chart pattern) you can enter the moment TRN Trend Bars turn green. Alternatively, you wait for a pullback with red bars and enter once a green bar occurs.
Pullbacks
In a trending market you use the TRN Trend Bars for pullback entries. For example, if we are in a strong downtrend and a few green bars occur, then you can enter short once a red bar is displayed.
Exit signals/Trade Management
If you are in a position, you can use the TRN Trend Bars to manage the trade or find good exit points. In case the bar color is not in favor of your position anymore, you can either adjust your stop loss or exit the position completely. E.g. you are in a long position and the bars turn red, then you can either close the trade or tighten your stop loss.
Conclusion
While signals from TRN Trend Bars can be informative, it is important to recognize that their reliability may vary. Various external factors can impact market prices, and it is essential to consider your risk tolerance and investment goals when executing trades.
Risk Disclaimer
The content, tools, scripts, articles, and educational resources offered by TRN Trading are intended solely for informational and educational purposes. Remember, past performance does not ensure future outcomes.
NY Killzone (Morning, Lunch, Afternoon)Indicator for New York session that splits Morning, Lunch and Afternoon part of the session.
Works on Time Frames of 30m and below.
Price Action SuiteThe TRN Price Action Suite incorporates a treasure trove of time and price action concepts. It includes a set of trading tools that, when combined, allow for a more accurate view of the market. This enables traders to find high probability entry points before the market moves to the next liquidation level.
Features of the TRN Price Action Suite:
(Inverse) Fair Value Gaps (FVG)
Order Blocks (OB)
FVG and OB with Cumulative Volume Delta
Volume Imbalances
Market Structure
Liquidity levels
Sessions
Kill zones/Opening Range
The indicator helps traders to easily identify favorable market conditions and high probability trade setups. It automatically finds time and price action concepts and displays them in an intuitive way on the chart. One of the highlights is the detection of Fair Value Gaps and Order Blocks in connection with Cumulative Volume Delta (approx.). You will not find this connection anywhere else.
Fair Value Gaps (FVGs)
A fair value gap occurs when there are inefficiencies in the market or imbalanced buying and selling pressures. Fair value gaps can become a magnet for the price before continuing in the same direction. Special attention should be paid to FVGs that are supported by support and resistance levels, as these offer a higher probability of success for trades. Additionally, the indicator plots inverse FVG (iFVG). These are FVG that are “closed” by a FVG in the other direction. IFVGs are a strong sign of the market to continue in the direction of the iFVG.
In addition to the FVGs you see on the chart, you can add also FVGs from a higher timeframe including the cumulative buy/sell volume. For this you can set “Timeframe 1” and “Timeframe 2” in the settings to your preferred timeframes. E.g. you trade on a 5-minute chart, and you want to see FVGs from 4 hours and a daily chart, then you set Timeframe 1 to 4 h and to Timeframe 2 to 1 D.
Order Blocks and Volume Imbalances can also be shown from higher timeframes.
Order Blocks (OBs)
Order blocks are areas on the chart where a high concentration of limit orders was found in the past. They can serve as potential support or resistance areas. These represent areas in the market where there is an oversupply (supply) or an excess demand (demand). They are often key zones for potential turning points or continuations of the current trend. A bullish OB, for example, is the last bearish candle before a significant uptrend.
FVGs and OBs with Cumulative Volume Delta
The TRN Price Action Suite can show FVGs and OBs with the corresponding Cumulative Volume Delta (CVD). It is a metric to analyze market dynamics by tracking the net difference between buying and selling volumes over a specific timeframe. It is used to determine the strength of the FVG/OB. The FVG/OB includes two bars on the left side, indicating the cumulative buy volume in green as well es the cumulative sell volume in red. At the right side of the FVG/OB box the ratio of the cumulative buy/sell volume is displayed. A high ratio over 1, for example 1.5, indicates a lot of buying pressure. On the hand, a ratio far below 1, for example 0.66, indicates a lot of selling pressure.
Volume Imbalances (VIBs)
Volume Imbalances indicate a price gap from the previous close, but unlike gaps, there is no absence of trading activity within a specific price range. Bullish VIs have opening and closing prices above the previous close, with overlap between the current low and previous high. Bearish VIs are vice versa.
Market Structure
The market structure represents the dominant trend in the market. It is based on swing highs and lows. For instance, if the price makes higher highs (HH) and higher lows (HL) the market structure represents an uptrend. Vice versa if price makes lower lows (LL) and lower highs (LH) the market trend is down.
If the market structure is up, traders can enter positions in a pullback. For this, a trader could use a FVG or an OB as an entry condition.
Market Structure Shift (MSS) (Change of Character (ChoCh))
A market structure shift occurs when the market transitions from one dominant trend to a different one, often signaling a potential change in the underlying market dynamics. A MSS signals the start of a new trend. It signals the change from an uptrend to a down trend and vice versa. Therefore, it is sometimes called change of character (ChoCh). A valid MSS should ideally occur in a strong supply or demand zone. This indicates that the market may be approaching a trend reversal or consolidation.
Break of Structure (BOS)
A break of structure happens when the market breaks out of its established trading range or pattern. The market continues its dominant trend, indicated by the last MSS.
In an uptrend, for example, each time the price breaks through a new high, a "bullish BOS" is formed. This indicates that the market can overcome previous resistance levels and continue to rise.
Levels
One core concept in trading is that price flows to areas of liquidity. Natural liquidity areas are the current day open, high, low (CDO, CDH, CDL) or the previous day high, low, close (PDH, PDL, PDC). The same is true for the current week (CWO, CWH, CWL) and the previous week (PWH, PWL, PWC).
Pay special attention in case some of these levels are close together. Then these levels serve like a magnet for the price. The TRN Price Action Suite indicator can cluster these levels fully automatically together to give the trader the flexibility to focus solely on the trading part.
Sessions
Sessions are the trading hours during which the banks are actively trading. The three main trading sessions:
Asia: Most of the volume from the Asian players are handled within this session.
London: This is where the European players are most active.
New York: In the New York session all the USA players are active as well as all the other American players. Furthermore, a lot of global players are active in this session as well.
Killzones
A kill zone in trading refers to a specific time period during the trading day when the market experiences increased volatility and liquidity. It is an opportunity for traders to capitalize on potential price movements and generate profits. There are several different killzones during the day.
There are three different types of killzones:
Indices/Futures: This one is suitable if you trade products like the ES, NQ, FDAX, CL or Stocks, Options.
Forex: If you trade Forex this setting will mark the most liquid periods of the day.
Opening Range: In case you trade the opening range of the sessions, use this setting.
Trading Example
HTF Matrix TableThis is a Higher Time Frame Table like the Intra-Day Table that I also have available.
ICT stresses time and liquidity levels in his teachings. This table helps to easily locate these key Time-based price levels. You can use these levels to determine your directional bias and to help generate your narrative for where the market is going.
This indicator creates a table that gives you the price for the following liquidity levels:
*Price* - Current Price
PMH - Previous Month High
PMO - Previous Month Open
PM MT - Previous Month Mean Threshold (Midpoint of candle body)
(Calculated by:
if pmo > pmc
pm_mt := ((pmo-pmc)/2)+pmc
if pmo < pmc
pm_mt := ((pmc-pmo)/2)+pmo)
PMC - Previous Month Close
PML - Previous Month Low
PWH - Previous Week High
PWO - Previous Week Open
PW MT - Previous Week Mean Threshold (Midpoint of candle body)
Calculated by:
if pwo > pwc
pw_mt := ((pwo-pwc)/2)+pwc
if pwo < pwc
pw_mt := ((pwc-pwo)/2)+pwo)
PWC - Previous Week Close
PWL - Previous Week Low
PDO - Previous Day Open
PDH - Previous Day High
PDL - Previous Day Low
PDC - Previous Day Close
PDEQ - Equilibrium of the previous day's range.
(Calculated by math.abs(((pdh-pdl)/2)+pdl))
PDH2 - Two Days Back High
PDL2 - Two Days Back Low
PDH3 - Three Days Back High
PDL3 - Three Days Back Low
Gives you the opening price for the following times:
Midnight Open
NY Open
Lets you set the time for the Asia and London sessions and will give the high and low for those two sessions.
Asia High
Asia Low
London High
London Low
Ability to hide either the table or lines.
The levels are sorted descending in price in the table, with the background colored based on their relation to price. The prices are also plotted on the chart based on the range you specify in relation to the current price. These lines are also colored based on their relation to price.
This indicator does not give you anything but the price at a specific time, you must determine your own bias and narrative based on the levels that are given.
The indicator runs on the seconds chart.
FVG Breakaway/3rd Candle (Arjo) [MK]Simple script to identify FVGs (Fair Value Gaps) on the current chart timeframe. The script differs from other FVG indicators on the Tradingview platform by using Arjos 3rd candle rule to identify which gaps are 'Breakway Gaps' and which Gaps are likely to be returned to.
NOTE: As with all 'trading rules' this theory is not 100% accurate.
default settings:
Breakaway Gaps = YELLOW
Gaps that price may return to = GREEN
Mitigated Gaps = 100% TRANSPARENT
What is a FVG:
A FVG is a price area defined by a 3 candle pattern. For a bullish FVG, the low of the 3rd candle must be higher than the high of the 1st candle. This then leaves an area that is drawn as in the example below:
A bearish FVG is defined by the high of the 3rd candle being lower than the low of the 1st candle, as shown in the example below:
FVGs can act like magnets where price will either retrace to or reach for, therefore they can be used as entry points and also for take profit target levels.
If for example, a trader would like to use an FVG for an entry, it would be useful to know which FVGs are more likely for price to re-enter and which FVG will be left un-touched. FVGs that are likely to be left un-touched by price are called 'Breakaway Gaps'.
How do we define a 'Breakaway Gap':
First we identify FVGs using the rules stated above, then we look to see where the 3rd candle closed in relation to the 2nd candle. For a bullish 'Breakaway Gap' we want to see the 3rd candle close above the high of the 2nd candle. An example of a bullish Breakaway Gap is shown in the example below:
A bearish 'Breakaway Gap' is defined by the close of the 3rd candle being lower than the low of the 2nd candle. An example is shown below:
How do we define an FVG that price may return to:
Any gap that does not meet the above rules for a 'Breakway Gap' is therefore considered an FVG that price may return to. So for a bullish FVG that price may return to we would look to see if the close of the 3rd candle is above the high of the 2nd candle. If it is not above the high of the 2nd candle then it more likely that price will retrace into the FVG before continuing higher. An example is shown below:
A bearish gap that price may return to is defined by the close of the 3rd candle not being lower than the low of the 2nd candle. An example is shown below:
The indicator is based on the teachings of 'Arjo'. Note: breakaway gaps will only remain 'breakaway' until a liquidity level is reached. Breakaways therefore do not remain 'breakaway' forever. Users of the indicators must fully comprehend this theory before using the indicator with live markets.
Users of the script should be fully aware of this concept and also have conducted thorough backtesting using a large data set before using this indicator with live accounts.
