CandelaCharts - Fair Value Gap (FVG) 📝 Overview
A Fair Value Gap is a three-candle pattern where an unfilled area exists between the high of the first candle and the low of the third candle. This Fair Value Gap represents a price imbalance and often serves as a level of support or resistance on the price chart.
A Bullish FVG occurs when the high of the first candle is below the low of the third candle, creating a gap in price between them.
A Bearish FVG happens when the low of the first candle is above the high of the third candle, also resulting in a price gap.
The indicator is designed to allow traders to precisely and accurately identify Fair Value Gaps (FVGs) across any chosen time frame. Automatically detecting these price imbalances, highlights potential areas where prices may retrace, providing valuable insights into market support and resistance levels. This capability enables traders to make informed decisions based on the presence of FVGs, enhancing their strategies for entry and exit points across different market conditions and time frames.
📦 Features
MTF
Mitigation
Consequent Encroachment
Threshold
Hide Overlap
Advanced Styling
⚙️ Settings
Show: Controls whether FVGs are displayed on the chart.
Show Last: Sets the number of FVGs you want to display.
Length: Determines the length of each FVG.
Mitigation: Highlights when an FVG has been touched, using a different color without marking it as invalid.
Timeframe: Specifies the timeframe used to detect FVGs.
Threshold: Sets the minimum gap size required for FVG detection on the chart.
Show Mid-Line: Configures the midpoint line's width and style within the FVG. (Consequent Encroachment - CE)
Show Border: Defines the border width and line style of the FVG.
Hide Overlap: Removes overlapping FVGs from view.
Extend: Extends the FVG length to the current candle.
Elongate: Fully extends the FVG length to the right side of the chart.
⚡️ Showcase
Simple
Mitigated
Bordered
Consequent Encroachment
Extended
🚨 Alerts
This script provides alert options for all signals.
Bearish Signal
A bearish signal is triggered when the price moves back into a bearish inversion zone and then reverses downward.
Bullish Signal
A bullish signal is triggered when the price returns to a bullish inversion zone and then breaks upward out of the top.
⚠️ Disclaimer
Trading involves significant risk, and many participants may incur losses. The content on this site is not intended as financial advice and should not be interpreted as such. Decisions to buy, sell, hold, or trade securities, commodities, or other financial instruments carry inherent risks and are best made with guidance from qualified financial professionals. Past performance is not indicative of future results.
Pesquisar nos scripts por "mtf"
CandelaCharts - Balanced Price Range (BPR) 📝 Overview
ICT Balanced Price Range (BPR) is the area on the price chart where two opposite Fair Value Gaps overlap.
To identify a Balanced Price Range (BPR), mark a fair value gap (FVG) on the sell side of the price and another on the buy side. These FVGs should be directly opposite each other horizontally. The overlapping area between the two is the Balanced Price Range.
The significance of the ICT Balanced Price Range lies in its sensitivity to price movements. When the market approaches a BPR, it often triggers a rapid and notable price reaction.
This reaction occurs because the two opposing FVGs attract the attention of smart money traders—those with substantial capital capable of influencing market trends. As a key concept in the Inner Circle Trader (ICT) methodology, the BPR serves as an ideal entry point, frequently driving considerable market activity.
📦 Features
MTF
Mitigation
Consequent Encroachment (CE)
Threshold
Hide Overlap
Advanced Styling
⚙️ Settings
Show: Controls whether BPRs are displayed on the chart.
Show Last: Sets the number of BPRs you want to display.
Length: Determines the length of each BPR.
Mitigation: Highlights when an BPR has been touched, using a different color without marking it as invalid.
Timeframe: Specifies the timeframe used to detect BPRs.
Threshold: Sets the minimum gap size required for BPR detection on the chart.
Show Mid-Line: Configures the midpoint line's width and style within the BPR. (Consequent Encroachment - CE)
Show Border: Defines the border width and line style of the BPR.
Hide Overlap: Removes overlapping BPRs from view.
Extend: Extends the BPR length to the current candle.
Elongate: Fully extends the BPR length to the right side of the chart.
⚡️ Showcase
Simple
Mitigated
Bordered
Consequent Encroachment
Extended
🚨 Alerts
This script offers alert options for all signal types.
Bearish Signal
A bearish signal is generated when the price re-enters a bearish inversion zone and then reverses downward.
Bullish Signal
A bullish signal is generated when the price revisits a bullish inversion zone and then breaks upward through the top.
⚠️ Disclaimer
Trading involves significant risk, and many participants may incur losses. The content on this site is not intended as financial advice and should not be interpreted as such. Decisions to buy, sell, hold, or trade securities, commodities, or other financial instruments carry inherent risks and are best made with guidance from qualified financial professionals. Past performance is not indicative of future results.
EMAs MTF (Miu)This indicator plots multiple EMA (Exponential Moving Average) on chart.
You can set up to 3 different EMA for the current timeframe and you can add up to 3 more different EMA with a different timeframe. So you can have up to 6 EMAs on your chart.
This way you can easily see multiple EMA lines with a single indicator to setup.
Indicator will automaticaly plot labels with symbol's price, timeframe and which EMA is set for easy identification.
You can also set an alert that will trigger anytime current price crosses any active EMA.
Alerts will provide detailed information such as:
1) Symbol
2) Which EMA and timeframe that has been crossed
3) Current symbol price
Feel free to give feedbacks on comments section below. Suggestions are welcome.
Enjoy!
Contraction & Expansion Multi-Screener █ Overview:
The Contraction & Expansion Multi-Screener analyzes market volatility across many symbols. It provides insights into whether a market is contracting or expanding in volatility. With using a range of statistical models for modeling realized volatility, the script calculates, ranks, and monitors the degree of contraction or expansions in market volatility. The objective is to provide actionable insights into the current market phases by using historical data to model current volatility conditions.
This indicator accomplishes this by aggregating a variety of volatility measures, computing ranks, and applying threshold-based methods to identify transitions in market behavior. Volatility itself helps you understand if the market is moving a lot. High volatility or volatility that is increasing over time, means that the price is moving a lot. Volatility also mean reverts so if its extremely low, you can eventually expect it to return to its expected value, meaning there will be bigger price moves, and vice versa.
█ Features of the Indicator
This indicator allows the user to select up to 14 different symbols and retrieve their price data. There is five different types of volatility models that you can choose from in the settings of this indicator for how to use the screener.
Volatility Settings:
Standard Deviation
Relative Standard Deviation
Mean Absolute Deviation
Exponentially Weighted Moving Average (EWMA)
Average True Range (ATR)
Standard Deviation, Mean Absolute Deviation, and EWMA use returns to model the volatility, meanwhile Relative Standard Deviation uses price instead due to its geometric properties, and Average True Range for capturing the absolute movement in price. In this indicator the volatility is ranked, so if the volatility is at 0 or near 0 then it is contracting and the volatility is low. If the volatility is near 100 or at 100 then the volatility is at its maximum.
For traders that use the Forex Master Pattern Indicator 2 and want to use this indicator for that indicator, it is recommended to set your volatility type to Relative Standard Deviation.
Users can also modify the location of the screener to be on the top left, top right, bottom left, or bottom right. You also can disable sections of the screener and show a smaller list if you want to.
The Contraction & Expansion Screener shows you the following information:
Confirmation of whether or not there is a contraction or expansion
Percentage Rank of the volatility
Volatility MA direction: This screener uses moving averages on the volatility to determine if its increasing over time or decreasing over time.
Multi-Timeframe Momentum Indicator [Ox_kali]The Multi-Timeframe Momentum Indicator is a trend analysis tool designed to examine market momentum across various timeframes on a single chart. Utilizing the Relative Strength Index (RSI) to assess the market’s strength and direction, this indicator offers a multidimensional perspective on current trends, enriching technical analysis with a deeper understanding of price movements. Other oscillators, such as the MACD and StochRSI, will be integrated in future updates.
Regarding the operation with the RSI: when its value is below 50 for a given period, the trend is considered bearish. Conversely, a value above 50 indicates a bullish trend. The indicator goes beyond the isolated analysis of each period by calculating an average of the displayed trends, based on user preferences. This average, ranging from “Strong Down” to “Strong Up,” reflects the percentage of periods indicating a bullish or bearish trend, thus providing a precise overview of the overall market condition.
Key Features:
Multi-Timeframe Analysis : Allows RSI analysis across multiple timeframes, offering an overview of market dynamics.
Advanced Customization : Includes options to adjust the RSI period, the RSI trend threshold, and more.
Color and Transparency Options : Offers color styles for bullish and bearish trends, as well as adjustable transparency levels for personalized visualization.
Average Trend Display : Calculates and displays the average trend based on activated timeframes, providing a quick summary of the current market state.
Flexible Table Positioning : Allows users to choose the indicator’s display location on the chart for seamless integration.
List of Parameters:
RSI Period : Defines the RSI period for calculation.
RSI Up/Down Threshold: Threshold for determining bullish or bearish trends of the RSI.
Table Position: Location of the indicator’s display on the chart.
Color Style : Selection of the color style for the indicator.
Strong Down/Up Color (User) : Customization of colors for strong market movements.
Table TF Transparency : Adjustment of the transparency level for the timeframe table.
Show X Minute/Hour/Day/Week Trend : Activation of the RSI display for specific timeframes.
Show AVG : Option to display or not the calculated average trend.
the Multi-Timeframe Momentum Indicator , stands as a comprehensive tool for market trend analysis across various timeframes, leveraging the RSI for in-depth market insights. With the promise of future updates including the integration of additional oscillators like the MACD and StochRSI, this indicator is set to offer even more robust analysis capabilities.
Please note that the MTF-Momentum is not a guarantee of future market performance and should be used in conjunction with proper risk management. Always ensure that you have a thorough understanding of the indicator’s methodology and its limitations before making any investment decisions. Additionally, past performance is not indicative of future results.
Immediate Rebalance ICT [TradingFinder] No Imbalances - MTF Gaps🔵 Introduction
The concept of "Immediate Rebalance" in technical analysis is a powerful and advanced strategy within the ICT (Inner Circle Trader) framework, widely used to identify key market levels.
Unlike the "Fair Value Gap," which leaves a price gap requiring a retracement for a fill, an Immediate Rebalance fills the gap immediately, representing an instant balance that strengthens the prevailing market trend. This structure allows traders to quickly spot critical price zones, capitalizing on strong trend continuations without the need for price retracement.
The "Immediate Rebalance ICT" indicator leverages this concept, providing traders with automated identification of critical supply and demand zones, order blocks, liquidity voids, and key buy-side and sell-side liquidity levels.
Through features like crucial liquidity points and immediate rebalancing areas, this tool enables traders to perform precise real-time market analysis and seize profitable opportunities.
🔵 How to Use
The Immediate Rebalance indicator assists traders in identifying reliable trading signals by detecting and analyzing Immediate Rebalance zones. By focusing on supply and demand areas, the indicator pinpoints optimal entry and exit positions.
Here’s how to use the indicator in both bearish (Supply Immediate Rebalance) and bullish (Demand Immediate Rebalance) structures :
🟣 Bullish Structure (Demand Immediate Rebalance)
In a bullish scenario, the indicator detects a Demand Immediate Rebalance formed by two consecutive bullish candles with overlapping wicks. This structure signifies an immediate demand zone, where price instantly balances within the zone, reducing the likelihood of a revisit and indicating potential upside momentum.
Zone Identification : Look for two consecutive bullish candles with overlapping wicks, forming a demand zone. This structure, due to its rapid balance, usually does not require a revisit and supports further upward movement.
Entry and Exit Levels : If price revisits this zone, percentage markers, particularly 50% and 75%, act as supportive levels, creating ideal entry points for long positions.
Example : In the second image, an example of a Demand Immediate Rebalance is shown, where overlapping bullish candle shadows indicate immediate balance, supporting the continuation of the bullish trend.
🟣 Bearish Structure (Supply Immediate Rebalance)
In a bearish setup, the indicator identifies a Supply Immediate Rebalance when two consecutive bearish candles with overlapping wicks appear. This formation signals an immediate supply zone, suggesting a high probability of trend continuation to the downside, with minimal expectation for price to retrace back to this area.
Zone Identificatio n: Look for two consecutive bearish candles with overlapping shadows. This structure forms a supply area where price is expected to continue its downtrend without revisiting the zone.
Entry and Exit Level s: Should price revisit this zone, percentage-based levels (e.g., 50% and 75%) serve as potential resistance points, optimizing entry for short positions, especially if the downtrend is expected to persist.
Example : The attached chart illustrates a Supply Immediate Rebalance, where overlapping candle shadows define this area, reassuring traders of a continued downward trend with a low likelihood of price returning to this zone.
🔵 Settings
ImmR Filter : This filter allows users to adjust the detection of Immediate Rebalance zones in four modes, from "Very Aggressive" to "Very Defensive," based on zone width. The chosen mode controls the sensitivity of Immediate Rebalance detection, allowing users to fine-tune the indicator to their trading style.
Multi Time Frame : Enabling this option allows users to set the indicator to a specific timeframe (1 minute, 5 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, daily, weekly, or monthly), broadening the perspective for identifying Immediate Rebalance zones across multiple timeframes.
🔵 Conclusion
The Immediate Rebalance indicator, based on rapid balancing zones within supply and demand areas, serves as a powerful tool for market analysis and improving trade decision-making.
By accurately identifying zones where price achieves instant balance without gaps, the indicator highlights areas likely to support strong trend continuations, exempt from common retracements.
The indicator’s use of percentage levels enables traders to pinpoint optimal entry and exit points more effectively, with levels like 50% and 75% acting as support within demand zones and resistance within supply zones. This empowers traders to ride strong trends without the worry of abrupt reversals.
Overall, the Immediate Rebalance is a reliable tool for both professional and beginner traders seeking precise methods to recognize supply and demand zones, capitalizing on consistent trends.
By choosing appropriate settings and focusing on the zones highlighted by this indicator, traders can enter trades with greater confidence and improve their risk management.
Zero Lag Trend Signals (MTF) [AlgoAlpha]Zero Lag Trend Signals 🚀📈
Ready to take your trend-following strategy to the next level? Say hello to Zero Lag Trend Signals , a precision-engineered Pine Script™ indicator designed to eliminate lag and provide rapid trend insights across multiple timeframes. 💡 This tool blends zero-lag EMA (ZLEMA) logic with volatility bands, trend-shift markers, and dynamic alerts. The result? Timely signals with minimal noise for clearer decision-making, whether you're trading intraday or on longer horizons. 🔄
🟢 Zero-Lag Trend Detection : Uses a zero-lag EMA (ZLEMA) to smooth price data while minimizing delay.
⚡ Multi-Timeframe Signals : Displays trends across up to 5 timeframes (from 5 minutes to daily) on a sleek table.
📊 Volatility-Based Bands : Adaptive upper and lower bands, helping you identify trend reversals with reduced false signals.
🔔 Custom Alerts : Get notified of key trend changes instantly with built-in alert conditions.
🎨 Color-Coded Visualization : Bullish and bearish signals pop with clear color coding, ensuring easy chart reading.
⚙️ Fully Configurable : Modify EMA length, band multiplier, colors, and timeframe settings to suit your strategy.
How to Use 📚
⭐ Add the Indicator : Add the indicator to favorites by pressing the star icon. Set your preferred EMA length and band multiplier. Choose your desired timeframes for multi-frame trend monitoring.
💻 Watch the Table & Chart : The top-right table dynamically updates with bullish or bearish signals across multiple timeframes. Colored arrows on the chart indicate potential entry points when the price crosses the ZLEMA with confirmation from volatility bands.
🔔 Enable Alerts : Configure alerts for real-time notifications when trends shift—no need to monitor charts constantly.
How It Works 🧠
The script calculates the zero-lag EMA (ZLEMA) by compensating for data lag, giving traders more responsive moving averages. It checks for volatility shifts using the Average True Range (ATR), multiplied to create upper and lower deviation bands. If the price crosses above or below these bands, it marks the start of new trends. Additionally, the indicator aggregates trend data from up to five configurable timeframes and displays them in a neat summary table. This helps you confirm trends across different intervals—ideal for multi-timeframe analysis. The visual signals include upward and downward arrows on the chart, denoting potential entries or exits when trends align across timeframes. Traders can use these cues to make well-timed trades and avoid lag-related pitfalls.
3CRGANG - HISTOGRAMThe 3CRGANG - HISTOGRAM is a breakthrough tool, developed to consolidate multiple oscillators, including their Fibonacci-modified versions, into a single, streamlined indicator. This isn’t just a combination of tools—i t’s a carefully engineered solution built to address the nuanced challenges traders face, such as market noise, varying data availability, and trend alignment across multiple timeframes.
Behind the scenes, significant debugging ensures it performs flawlessly even in situations where volume data isn’t provided by brokers. With automatic adjustments that adapt to different conditions, the indicator allows traders to remain focused on decision-making. Every enhancement, from signal optimization to noise reduction, reflects careful design choices to provide practical, actionable insights.
This tool is designed to give traders clarity, speed, and an edge, enabling them to focus on the markets without worrying about technical details.
How It’s Different from Basic Indicators
Rather than simply mashing up popular indicators like MACD, RSI, and more , —it’s a strategic tool designed to detect key momentum shifts, divergences, and trends in real time.
This script combines Fibonacci-modified oscillators and classic indicators in a unique way, providing multi-dimensional insights to enhance your trading decisions.
Reduce market noise: Fast and slow averages are used to generate histograms that filter out false signals.
Optimize alerts: Fibonacci-based calculations fine-tune oscillators to detect trends at key turning points.
Multi-timeframe momentum: This allows for tracking higher timeframe momentum while making decisions on lower timeframes—a powerful feature for trend alignment.
Key Features and Unique Value
Oscillator Flexibility: Choose from multiple oscillators to fit your strategy, including both momentum-based and volatility-based approaches.
Fibonacci Enhancements: These versions increase precision, providing greater confidence in signals at critical levels.
MTF Compatibility: Analyze higher timeframe momentum on shorter charts to maintain alignment with the broader trend.
Custom Alerts: Color-coded histograms and moving averages provide visual cues to keep your trades in sync with momentum changes.
How It Works
The indicator plots fast and slow averages for the selected oscillator, and the difference between these averages forms the histogram. Custom color coding shows whether momentum is increasing or weakening. The proprietary modification factor adjusts the signal sensitivity, allowing traders to fine-tune the indicator for their strategy.
Visual Alerts:
Green Bars: Indicate bullish momentum.
Red Bars: Suggest bearish momentum.
Buy Only / Sell Only Zones: Alert traders when the indicator suggests favoring either long or short trades.
This indicator minimizes false signals by blending momentum oscillators with volume-weighted filters and smooth moving averages, ensuring better signal quality.
Use Case: Like a Traffic Light for Your Trades
Green means Go: Enter or hold long positions during green bars, signaling upward momentum.
Red means Stop (or Go Short): Exit long positions or enter short trades when red bars appear, indicating bearish momentum.
The Buy Only and Sell Only alerts help traders stay aligned with dominant trends and avoid counter-trend trades in high-momentum phases.
Real-World Examples :
Divergences (BTCUSD):
When the price action ranges, wedges, or behaves unusually, the histogram—being highly sensitive — alerts traders ahead of potential reversals or continuation moves.
This gives traders more time to assess market conditions and prepare their strategy before momentum shifts.
Multi-Timeframe Momentum (ADAUSD):
Momentum from a higher timeframe aligns with the trend on a lower timeframe, helping traders time their entries accurately.
The Priceless Edge for Traders
The 3CRGANG offers more than just another way to analyze markets—it provides a priceless edge by streamlining multiple indicators into a single tool. With the flexibility to switch between oscillators, multi-timeframe momentum tracking, and proprietary enhancements, it’s designed to help traders stay ahead in both trending and volatile markets.
Disclaimer
This indicator is a trading tool designed to provide insights into market trends, but it does not guarantee results. Trading involves risk, and past performance does not predict future outcomes. Use it alongside proper risk management practices.
Stochastic Trendlines with Breakouts [Jamshid] - EnhancedStochastic Trendlines with Breakouts - Enhanced Version
This advanced Stochastic Trendlines with Breakouts script combines several powerful features to provide enhanced breakout detection based on the Stochastic Oscillator and additional confirmation signals. This script is designed to help traders identify key trend reversals, breakout points, and pivot levels with more accuracy by integrating advanced filters such as RSI confirmation, moving average trend filtering, volatility filtering, divergence detection, and multi-timeframe analysis.
Key Features:
Stochastic Oscillator-Based Breakouts:
Automatically detects breakouts based on the smoothed Stochastic Oscillator values (%K and %D), providing insights into overbought and oversold conditions.
Customizable overbought and oversold levels, with a mid-level (50) line for additional reference.
Trendlines on Pivot Points:
Automatically plots dynamic trendlines based on pivot highs and lows of the smoothed Stochastic %K, helping to visualize potential reversal points.
RSI Confirmation (Optional):
Filters breakout signals using the Relative Strength Index (RSI) to confirm breakouts only when the RSI is below 50 for downtrend breakouts and above 50 for uptrend breakouts.
Visual confirmation with a green "RSI Conf." label displayed on the chart when the RSI condition is met.
Moving Average Filter (Optional):
Confirms breakout signals in the direction of a user-defined Moving Average (MA) to trade in the overall market trend direction.
MA length is fully customizable.
Stochastic Divergence Filter (Optional):
Detects bullish or bearish divergence between the price and Stochastic Oscillator values, adding an extra layer of confirmation.
Multi-Timeframe Confirmation (Optional):
Confirms breakouts by checking the Stochastic %K and %D values from a higher timeframe. This helps in avoiding false signals by aligning with the broader market trend.
The higher timeframe can be customized to any timeframe (e.g., daily, weekly, etc.).
Volatility Filter (Optional):
Uses the ATR (Average True Range) to filter out breakouts during periods of low volatility, ensuring signals are only triggered when there is sufficient price movement.
ATR length and multiplier are fully customizable.
Custom Alerts:
Alerts are available for new trendline detections (both pivot high and pivot low) and for confirmed breakout signals. These alerts help traders stay informed in real-time without needing to monitor the chart continuously.
How to Use:
Customize the Stochastic Oscillator settings, such as %K smoothing and %D line parameters, to fit your trading strategy.
Enable or disable additional filtering features (RSI, MA, divergence, MTF, volatility) as needed.
Set up alerts for specific breakout conditions directly in TradingView to stay notified when breakout signals are triggered.
This script is designed for traders who are looking for precision breakout signals with added layers of confirmation to avoid false breakouts and enhance trading accuracy.
Smart Momentum Relative StrengthSmart Momentum Relative Strength
Creator Journey
The Smart Momentum Relative Strength indicator is
created by Vishal R. Janjire , inspired by BharatTrader sir, and parameters guided by mentor stockedge founder Vivek Bajaj sir.
Reason? ...Why choose Smart Momentum Relative Strength.
1.Simple to Trade: This indicator simplifies trading decisions. You just need to follow the background color displayed on the chart. When the background is green, it signals a bullish trend, and when it turns red, it signals a bearish trend. For an even cleaner experience, you can untick the Relative Strength (RS) toggle in the indicator settings and focus purely on trading based on these background colors, making the process straightforward and efficient.
2.Unlock the power to compare any stock, share, commodity, forex or cryptocurrency against major indices like Nasdaq Composite, NYSE Composite, Bitcoin, NG, Gold, Silver, Crude oil, Nasdaq-100, Nifty 50, Hang Seng Index, FTSE 100, and many more! With the Comparative Relative Strength (RS) indicator,
You can easily change the default Nifty 50 comparative symbol to any index or asset of your choice, such as Gold, Silver, Crude Oil, or global benchmarks like the Dow Jones Industrial Average, DAX, Euronext 100, and SSE Composite.
This versatile tool allows traders to measure how well a base symbol (e.g., stock or crypto) performs relative to a chosen benchmark over a specified period. Whether you're analyzing the relative strength of Bitcoin against the Nasdaq-100 or comparing stocks to the S&P 500, this indicator provides valuable insights into market trends and outperforming assets.
The Smart Momentum Relative Strength combines several advanced technical analysis tools into one comprehensive Pine Script indicator designed to provide a nuanced view of market strength and trends. This script integrates Relative Strength (RS), Commodity Channel Index (CCI), and additional trend confirmation mechanisms to deliver actionable insights for traders.
Below are key points to understand before using this indicator:
Important Parameters:
1. Green Line: Represents stocks outperforming the comparative index, which is Nifty 50. However, do not apply this result directly to Nifty 50 itself, as it will not work exclusively on the Nifty 50 index.
2. Red Line: Indicates that the stock is underperforming relative to the Nifty 50 index.
3. Green Background: Signifies that both the current time momentum and higher time momentum are aligned, indicating an upward trend.
4. Red Background: Signifies that both the current time momentum and higher time momentum are aligned, indicating a downward trend.
5. Blank Space: This occurs when the two timeframes are not aligned, indicating market uncertainty and signaling a potential change in market direction, it means short time frame or current time frame changed its direction to opposite side.
Multi-Time Frame (MTF) Settings:
This indicator incorporates a default multi-time frame setup, as follows:
1 and 2 Minute chart = 5 Minute higher time frame
3 Minute chart = 15 Minute higher time frame
5 Minute chart = 15 Minute higher time frame
10 Minute chart = 60 Minute higher time frame
15 Minute chart = 60 Minute higher time frame
20 and 30 Minute chart = 120 Minute higher time frame
1 Hour chart = 4 Hour higher time frame
2 Hour chart = 4 Hour higher time frame
4 Hour chart = 1 Day higher time frame
1 Day chart = 1 Week higher time frame
1 Week chart = 1 Month higher time frame
1 Month chart = 12 Month higher time frame
For any other chart time frame = Day time is default time frame
1. Relative Strength (RS) Analysis:
Calculation: Measures the performance of the base symbol relative to a comparative symbol over a specified period.
Visualization: The RS value is plotted with color-coded lines to indicate bullish (green) or bearish (red) conditions based on crossovers. Users can customize the color based on value or trend direction.
Trend Analysis: A simple moving average (SMA) of RS is displayed to visualize trend strength and direction, with color changes to reflect rising or falling trends.
2. Commodity Channel Index (CCI):
- Current Timeframe CCI: Calculates the CCI for the current timeframe to assess price momentum.
- Higher Timeframe CCI: Computes the CCI for a higher timeframe to provide a broader market perspective.
- Background Color: Highlights the chart background in green or red based on whether both current and higher timeframe CCIs are above or below zero, respectively.
-Blank Space: This occurs when the two timeframes are not aligned, indicating market uncertainty and signaling a potential change in market direction, it means short time frame or current time frame changed its direction to opposite side.
Options Series - MTF_Parabolic_SAR
⭐ Purpose of the Script
This script, titled "Options Series - MTF_Parabolic_SAR," is designed for analyzing price trends using the Parabolic SAR (Stop and Reverse) indicator across multiple timeframes (MTF). It dynamically highlights bullish and bearish conditions, helping traders identify trends with improved accuracy. The script uses the Parabolic SAR across three customizable timeframes (default: 5, 15, and 60 minutes) to gauge the market sentiment.
⭐ Key Features and Insights:
Multi-Timeframe Parabolic SAR: The script calculates the Parabolic SAR for three different timeframes ( input_tf_1 , input_tf_2 , and input_tf_3 ). Traders can configure these timeframes to match their trading style (e.g., intraday, swing).
The SAR plots adapt to the selected timeframe, helping traders see different perspectives of price movement, such as short-term and long-term trends.
Bullish and Bearish Conditions: The script determines bullish and bearish conditions by comparing the close price against the Parabolic SAR in each timeframe.
If at least one timeframe indicates a bullish condition (close price above SAR), the bars are colored green . Conversely, if one timeframe signals bearish conditions (close below SAR), the bars turn red .
This provides an at-a-glance view of the price trend across multiple timeframes, offering insights into the market's strength and direction.
Visual Enhancements: Bar Coloring: Bars are visually enhanced with a color scheme: green for bullish , red for bearish , and gray for neutral conditions. This makes it easy to spot market trends and reversals directly on the chart. Candle Plotting: The current candle is plotted with the corresponding color and labeled with the SAR values for each timeframe. This aids traders in tracking real-time price action.
Labeling of SAR Values: The script displays SAR values for each timeframe as floating labels next to the chart. These labels contain the timeframe and the exact SAR value, making it easier to reference without cluttering the chart.
⭐ Trading Advantages: Customizable and Adaptive: The customizable timeframes and SAR settings allow traders to adapt the script to various market conditions and their specific trading strategies. This flexibility provides a powerful tool for identifying entry and exit points. Multi-Timeframe Insights: By considering multiple timeframes, the script offers a comprehensive market view, making it easier to confirm strong trends and avoid false signals.
⭐ How It Helps Traders: Trend Identification: By visualizing Parabolic SAR across multiple timeframes, traders can quickly assess trend strength and direction. Reversal Detection: The script's color changes (green to red or vice versa) signal potential trend reversals, offering critical information for managing trades and reducing risk.
🚀 Conclusion:
This script provides traders with a multi-timeframe analysis tool for identifying trends and potential reversals using the Parabolic SAR. By offering customizable timeframes, clear visual cues, and SAR value labeling, it simplifies decision-making and enhances market insights.
Vasyl Ivanov | mTF ExtremumsExtremums Indicator: Multi-Timeframe Highs & Lows Detection
This indicator is designed to help traders easily identify Highs and Lows across multiple timeframes on the same chart, providing a clear view of market extremes at different levels. With up to 5 timeframes supported and customizable settings, the Extremums Indicator offers flexibility and precision for traders looking to spot key reversal points.
Key Features:
Detect Highs and Lows Across 5 Timeframes:
The indicator detects and displays significant highs and lows across up to five different timeframes, allowing traders to monitor multiple levels of price extremes simultaneously.
Customizable Colors for Each Timeframe:
Easily differentiate between highs and lows from various timeframes by assigning a unique color to each timeframe. You can also switch off unnecessary timeframes to declutter your chart and focus only on the most relevant ones.
Adjustable ATR Coefficient for Granularity:
Fine-tune the granularity of the extremums by adjusting the ATR coefficient. This allows traders to control how precise the highs and lows are, making the indicator adaptable to different market conditions and trading styles.
How It Works:
The Extremums Indicator scans price action across multiple timeframes and highlights the most significant highs and lows:
Select up to 5 different timeframes to track highs and lows, which will be displayed on the chart.
Adjust the ATR coefficient to control the level of detail in detecting highs and lows. A higher coefficient will detect fewer, more significant extremums, while a lower coefficient will reveal more frequent ones.
Customize the colors for each timeframe’s extremums, allowing you to easily distinguish between them and spot trends or reversals across different levels.
Use Cases:
Multi-Timeframe Analysis: Detect highs and lows on various timeframes to get a comprehensive view of market structure and make more informed trading decisions.
Trend Reversals: Use extremums to spot potential reversal points in the market across different timeframes, helping with entry and exit timing.
Custom Charting: Adjust the appearance of extremums by changing colors or switching off unnecessary timeframes, keeping your chart organized and visually clear.
Why It’s Unique:
This indicator offers a powerful tool for multi-timeframe analysis, with customizable options that allow traders to adapt the extremums detection to their trading style and market preferences. By combining timeframe-specific extremums with adjustable ATR granularity, it provides a flexible and insightful way to track price extremes and potential reversals.
Fractal WavesSummary of the "Fractal Waves" Indicator
The "Fractal Waves" indicator is a multifaceted trading tool designed for TradingView that combines various technical analysis methods to help traders identify potential market trends and trading opportunities. It overlays multiple analyses directly onto price charts, providing a comprehensive visual representation of market dynamics.
Key Features:
Fractal Wave Detection and Visualization:
Purpose: Identifies fractal highs and lows to signal potential trend reversals or continuations.
Functionality: Calculates fractal highs, lows, and midpoints on both the current and an additional user-selected timeframe. Plots lines at these fractal points with color coding to distinguish between bullish and bearish trends. Fills areas between fractal highs and lows with background colors to enhance visual cues. Updates fractal lines dynamically as new fractals are identified. Multiple Time Frame Moving Averages (MTF MA):
Purpose: Provides insight into trend directions across different timeframes.
Functionality: Allows plotting of up to three customizable moving averages from different timeframes on the current chart. Users can select the type of MA (SMA, EMA, DEMA, VWMA, RMA, WMA), length, resolution, and color. Optionally displays labels showing MA details like type, length, and resolution for clarity. Bar Pattern Identification (Inside and Outside Bars):
Purpose: Highlights specific bar patterns that may indicate market indecision or breakout potential.
Functionality: Detects inside bars (where the current bar's range is within the previous bar) and outside bars (where the current bar's range exceeds the previous bar). Colors bars based on whether they are bullish or bearish inside/outside bars using user-defined colors. Utilizes "The Strat" methodology to assign numbers (1 for inside bars, 2 for directional bars, 3 for outside bars) and plots them above the bars. Wicked Wicks Visualization:
Purpose: Highlights significant wicks that may indicate rejection at certain price levels.
Functionality: Identifies long upper wicks (top wicks) and lower wicks (bottom wicks) relative to previous bars. Plots custom candles to emphasize these wicks with specific background and border colors. Aids in recognizing potential reversals or strong buying/selling pressure. Volume Weighted Average Price (VWAP):
Purpose: Helps identify the average trading price weighted by volume, acting as dynamic support or resistance.
Functionality: Calculates and plots the daily VWAP, updating at the start of each session. Changes VWAP line color at session start for visual differentiation. Applicable primarily to intraday charts (60-minute timeframe or lower). Volume and Extreme Volume Reversal (EVR) Analysis:
Purpose: Detects areas of unusually high volume that may precede price reversals.
Functionality: Tracks the highest volume bars of the current and previous day. Plots boxes and lines to highlight extreme volume areas. Changes candle colors for high-volume bars to draw attention. Calculates and plots potential reversal levels based on extreme volume. Rate of Change (ROC) and Average True Range (ATR) Ratio Analysis:
Purpose: Assesses price momentum relative to volatility to predict trend changes.
Functionality: Calculates the ROC and ATR over specified lengths. Computes the ratio of ROC to ATR to gauge momentum. Plots bullish or bearish dots on the chart when ROC-ATR ratio aligns with the fractal trend, indicating potential trend shifts. Provides alerts when a new bullish or bearish trend is detected. Average Volume Weighted Average Price (AVWAP) with Dynamic Lookback Periods:
Purpose: Identifies key price levels based on volume-weighted averages over specific lookback periods.
Functionality: Calculates AVWAPs from the highest and lowest points over dynamic or manual lookback periods. Adjusts lookback periods automatically based on the current chart timeframe or uses user-defined periods. Plots AVWAP lines and fills the area between them, highlighting overlaps which may signify significant support/resistance levels. Fractal Wave Table Across Multiple Timeframes:
Purpose: Provides a quick overview of fractal trends and inside bar patterns across various timeframes.
Functionality: Displays a table at the bottom of the chart showing fractal wave values and inside bar statuses for timeframes from 5 minutes to monthly. Uses color coding to indicate bullish or bearish trends and whether the price is above or below the fractal wave. Indicates inside bars with symbols and colors to quickly identify consolidation periods. Alert Conditions:
Purpose: Keeps traders informed of significant market events without constant monitoring.
Functionality: Triggers alerts for: Bullish or bearish trend changes when the ROC-ATR ratio aligns with the fractal trend. Price crossing above a fractal high or below a fractal low. Formation of new bullish or bearish fractals. EVR-based potential long or short opportunities.
Usage Notes:
Customization: The indicator offers extensive customization options, allowing users to adjust colors, timeframes, calculation periods, and display preferences to suit their trading style. Timeframe Considerations: Some features, like EVR analysis and intraday VWAP, are optimized for intraday timeframes (up to 60 minutes). The indicator adjusts calculations and visualizations based on the current chart's timeframe. Comprehensive Analysis: By combining multiple technical analysis tools—such as fractals, moving averages, volume analysis, and bar patterns—the indicator provides a holistic view of market conditions. Visual Clarity: The use of color coding, labels, and symbols enhances visual interpretation, making it easier for traders to identify patterns and trends at a glance. Alerts and Notifications: Built-in alert conditions help traders stay informed of key market developments, enabling timely decision-making without the need for constant chart monitoring.
Conclusion:
The "Fractal Waves" indicator serves as an advanced analytical tool that synthesizes various technical indicators to support traders in market analysis. By overlaying fractal patterns, moving averages from multiple timeframes, volume analysis, and bar patterns onto price charts, it aids in identifying potential trading opportunities and understanding market dynamics across different timeframes. The combination of visual cues and alert notifications makes it a valuable asset for traders seeking deeper insight into market behavior.
KLNI RSI MTFDescription of the RSI Multi-Timeframe Indicator
The RSI Multi-Timeframe Indicator allows you to track and compare the Relative Strength Index (RSI) across three different timeframes on the same chart. This is particularly useful for traders who want to gauge the momentum of an asset over multiple time periods simultaneously, helping to make more informed trading decisions.
Key Features
Multi-Timeframe RSI:
You can select up to three timeframes to plot RSI on the same chart.
Available timeframe options include:
Current: Displays RSI for the current chart timeframe.
60 minutes (1 hour)
Daily
Weekly
Monthly
Custom RSI Settings:
Adjust the RSI length and source (e.g., close price) through user inputs, allowing you to tailor the indicator to your strategy.
Divergence Detection (Optional):
The indicator can optionally detect and display bullish and bearish divergences between price and RSI for the first selected timeframe.
Bullish divergence is shown when price makes a lower low, but RSI makes a higher low.
Bearish divergence is shown when price makes a higher high, but RSI makes a lower high.
Visual Aids:
Overbought and oversold RSI levels are highlighted with background colors for clarity.
Horizontal lines at 70 (overbought), 50 (neutral), and 30 (oversold) help quickly identify RSI conditions.
How to Use This Indicator
Inputs & Settings
Timeframe Settings:
First Timeframe: Choose the primary timeframe (e.g., 60 minutes, Daily, Weekly).
Second Timeframe: Select the second timeframe to plot on the chart.
Third Timeframe: Select the third timeframe for additional RSI analysis.
RSI Settings:
RSI Length: Set the period for RSI calculation (default: 14).
Source: Select the price data for RSI calculation (default: close price).
Show Divergence: Enable or disable the detection of divergence between price and RSI.
Plotting on Chart
The indicator will display three distinct RSI plots for the selected timeframes:
RSI TF1 (blue line) for the first timeframe.
RSI TF2 (green line) for the second timeframe.
RSI TF3 (red line) for the third timeframe.
Each RSI line corresponds to its chosen timeframe, allowing you to see how RSI behaves across different time periods.
Reading the RSI Values
Overbought: When RSI is above 70, the asset is considered overbought, potentially signaling a sell or short entry.
Oversold: When RSI is below 30, the asset is considered oversold, possibly indicating a buying opportunity.
Neutral: RSI around 50 is neutral and may suggest a lack of clear momentum.
Divergence Detection
If enabled, the indicator will highlight points of divergence:
Bullish Divergence: A green label will appear below the chart where price is making lower lows, but RSI is making higher lows, suggesting potential bullish momentum.
Bearish Divergence: A red label will appear when price is making higher highs, but RSI is making lower highs, indicating potential bearish pressure.
Practical Applications
Momentum Confirmation: Use this indicator to confirm the strength of a trend by comparing RSI across multiple timeframes. For example, if RSI is above 50 on all three timeframes, it may confirm strong upward momentum.
Overbought/Oversold Signals: When RSI is overbought on multiple timeframes, it could signal an impending reversal or correction. Conversely, oversold conditions across timeframes might indicate a buy opportunity.
Divergence Detection: Spot divergence between price and RSI to identify potential trend reversals early. Divergence can provide early signals of changing market momentum.
Summary
This indicator is a powerful tool for multi-timeframe RSI analysis, helping traders understand momentum shifts across different timeframes. It offers customizability, divergence detection, and visual aids to streamline your technical analysis and decision-making process.
MultiTimeFrame Trends and Candle Bias (by MC) v1This MultiTimeFrame Trends and Candle Bias provides the trader a quick glance on how each timeframe is trending and what the current candle bias is in each timeframe.
Interpreting Candle Bias : Green points to a bullish bias while red, a bearish bias for a given specific timeframe. For instance, if the current 1 hour candle bias is red, it means that the last hour, the bias has been bearish. If the Daily candle bias is red, it means that the day in question has been a bearish for this selected symbol.
Interpreting MTF Trends: Trends for each time frame follows the simple moving average of the closing prices for the X number of candles you enter in the input section. So for example, if you decide to enter 6 for the 1-hour time frame, the trend for the last 6 hours will be shown and tracked; if on the Daily time frame, you enter 7, the trend for the last 7 days or 1 week will be shown and tracked. I have provided below (as well as on tooltips in the input section of this indicator) recommendations of what numbers to use depending on what kind of trader you are.
What is a best setup for MultiTimeFrame Trends?
Considerations Across All Timeframes:
- Trading Style : Scalpers and very short-term intraday traders may prefer fewer candles (like 12 to 20), which allow them to react quickly to price changes. Swing traders or those holding positions for a few hours to a couple of days might prefer more candles (like 50 to 120) to identify more stable trends.
- Market Conditions : In volatile markets, using more candles helps smooth out price fluctuations and provides a clearer trend signal. In trending markets, fewer candles might be sufficient to capture the trend.
- Session-Based Adjustments : Traders may adjust their settings depending on the time of day or session they are trading. For example, during high-volatility periods like market open or close, using fewer candles can help capture quick moves.
The number of preceding candles to use for estimating the recent trend can depend on various factors, including the type of market, the asset being traded, the timeframe, and the specific goals of your analysis. However, here are some general guidelines to help you decide:
### 1. **Short-Term Trends (Fast Moving Averages):**
- **5 to 20 Candles**: If you want to capture a short-term trend, typically in day trading or scalping strategies, you might use 5 to 20 candles. This is common for fast-moving averages like the 9-period or 15-period moving averages. It reacts quickly to price changes, but it can also give more false signals due to market noise.
### 2. **Medium-Term Trends (Moderate Moving Averages):**
- **20 to 50 Candles**: For a more balanced approach that reduces the impact of short-term volatility while still being responsive to trend changes, 20 to 50 candles are commonly used. This range is popular for swing trading strategies, where the goal is to capture trends that last several days to weeks.
### 3. **Long-Term Trends (Slow Moving Averages):**
- **50 to 200 Candles**: To identify long-term trends, such as those seen in position trading or for confirming major trend directions, you might use 50 to 200 candles. The 50-period and 200-period moving averages are particularly well-known and are often used by traders to identify significant trend reversals or confirmations.
### 4. **Adaptive Approach:**
- **Market Conditions**: In trending markets, fewer candles might be needed to identify a trend, while in choppy or range-bound markets, using more candles can help filter out noise.
- **Volatility**: In highly volatile markets, more candles might be necessary to smooth out price action and avoid false signals.
### **Experiment and Backtesting:**
The optimal number of candles can vary significantly based on the asset and strategy. It's often a good idea to backtest different periods to see which provides the best balance between responsiveness and reliability in identifying trends. You can use tools like the strategy tester in TradingView or other backtesting software to compare the performance of different settings.
### **General Recommendation:**
- **For Shorter Timeframes** (e.g., 5m, 15m): 10-20 candles might be effective.
- **For Medium Timeframes** (e.g., 1h, 4h): 20-50 candles are often a good starting point.
- **For Longer Timeframes** (e.g., Daily, Weekly): 50-200 candles help capture major trends.
If you're unsure, a common starting point for many traders is the 20-period moving average, which provides a balance between sensitivity and reliability.
Guidelines for 1-Minute Timeframe:
For the 1-minute (1M) timeframe, trend analysis typically focuses on very short-term price movements, which is crucial for scalping and ultra-short-term trading strategies. Here’s a breakdown of the number of preceding candles you might use:
1. **Very Short-Term Trend:**
- **10 to 20 Candles (10 to 20 Minutes):** Using 10 to 20 candles captures about 10 to 20 minutes of price action. This range is suitable for scalpers who need to identify very short-term trends and make quick trading decisions.
2. **Short-Term Trend:**
- **30 to 60 Candles (30 to 60 Minutes):** This period covers 30 to 60 minutes of trading, making it useful for traders looking to understand the trend over a full trading hour. It helps capture price movements and trends that develop within a single hour.
3. **Intraday Trend:**
- **120 Candles (2 Hours):** Using 120 candles provides a view of the trend over approximately 2 hours. This is useful for traders who want to see how the market is trending throughout a larger portion of the trading day.
4. **Extended Intraday Trend:**
- **240 to 480 Candles (4 to 8 Hours):** This longer period gives a broader view of the intraday trend, covering 4 to 8 hours. It’s helpful for identifying trends that span a significant portion of the trading day, which can be useful for traders looking to align with the broader intraday movement.
**Considerations:**
- **High Sensitivity:** The 1-minute timeframe is highly sensitive to market movements, so shorter periods (10 to 20 candles) can capture rapid price changes but may also generate noise.
- **Market Volatility:** In highly volatile markets, using more candles (like 30 to 60 or more) helps smooth out the noise and provides a clearer trend signal.
- **Trading Style:** Scalpers will typically use shorter periods to make very quick decisions. Traders holding positions for a bit longer, even within the same day, may use more candles to get a clearer picture of the trend.
**Common Approaches:**
- **5-Period Moving Average:** The 5-period moving average on a 1-minute chart can be used for extremely short-term trend signals, reacting quickly to price changes.
- **20-Period Moving Average:** The 20-period moving average is a good choice for capturing short-term trends and can help filter out some of the noise while still being responsive.
- **50-Period Moving Average:** The 50-period moving average provides a broader view of the trend and can help smooth out price movements over a longer intraday period.
**Recommendation:**
- **Start with 10 to 20 Candles:** For the most immediate and actionable signals, especially useful for scalping or very short-term trading.
- **Use 30 to 60 Candles:** For a clearer view of trends that develop over an hour, suitable for those looking to trade within a single trading hour.
- **Consider 120 Candles:** For observing broader intraday trends over 2 hours, helping align trades with more significant intraday movements.
- **Explore 240 to 480 Candles:** For a longer intraday perspective, covering up to 8 hours, which can be useful for strategies that span a larger portion of the trading day.
**Practical Example:**
- **Scalpers:** If you’re executing trades every few minutes, start with 10 to 20 candles to get rapid trend signals.
- **Short-Term Traders:** For trends that last an hour or so, 30 to 60 candles will provide a better sense of direction while still being responsive.
- **Intraday Traders:** For broader trends that span several hours, 120 candles will help you see the overall intraday movement.
Experimentation and backtesting with these settings on historical data will help you fine-tune your approach to the 1-minute timeframe for your specific trading strategy and asset.
Guidelines for 5, 15 and 30 min Timeframes:
For shorter timeframes like 5, 15, and 30 minutes, the number of preceding candles you use will depend on how quickly you want to react to changes in the trend and the specific trading style you’re employing. Here's a breakdown for each:
**5-Minute Timeframe:**
1. **Very Short-Term (Micro Trend):**
- **12 to 20 Candles (60 to 100 Minutes):** Using 12 to 20 candles on a 5-minute chart captures 1 to 1.5 hours of price action. This is ideal for very short-term trades, such as scalping, where quick entries and exits are key.
2. **Short-Term Trend:**
- **30 to 60 Candles (150 to 300 Minutes):** This period covers 2.5 to 5 hours, making it useful for intraday traders who want to identify the trend within a trading session. It helps capture the direction of the market during the most active parts of the day.
3. **Intra-Day Trend:**
- **120 Candles (10 Hours):** Using 120 candles gives you a broad view of the trend over two trading sessions. This is useful for traders who want to understand the trend throughout the entire trading day.
**15-Minute Timeframe:**
1. **Very Short-Term:**
- **12 to 20 Candles (3 to 5 Hours):** On a 15-minute chart, this period covers 3 to 5 hours, making it useful for capturing the morning or afternoon trend within a trading day. It’s often used by intraday traders who need to make quick decisions.
2. **Short-Term Trend:**
- **30 to 60 Candles (7.5 to 15 Hours):** This covers almost a full trading day to a day and a half. It’s popular among day traders who want to align their trades with the trend of the day or the previous trading session.
3. **Intra-Week Trend:**
- **120 Candles (30 Hours):** This period spans about two trading days and is useful for traders looking to capture trends that may extend beyond a single trading day but not necessarily for an entire week.
**30-Minute Timeframe:**
1. **Short-Term Trend:**
- **12 to 20 Candles (6 to 10 Hours):** This period captures the trend over a single trading session. It's useful for day traders who want to understand the market’s direction throughout the day.
2. **Medium-Term Trend:**
- **30 to 50 Candles (15 to 25 Hours):** This period covers about two trading days and is useful for short-term swing traders or intraday traders who are looking for trends that might last a couple of days.
3. **Intra-Week Trend:**
- **100 to 120 Candles (50 to 60 Hours):** This longer period captures about 4 to 5 trading days, making it useful for traders who want to understand the broader trend over the course of the week.
**Summary Recommendations:**
- **5-Minute Chart:**
- **12 to 20 candles** for very short-term trades.
- **30 to 60 candles** for intraday trends within a single session.
- **120 candles** for a broader view of the day’s trend.
- **15-Minute Chart:**
- **12 to 20 candles** for short-term trades within a few hours.
- **30 to 60 candles** for trends lasting a full day or more.
- **120 candles** for trends extending over a couple of days.
- **30-Minute Chart:**
- **12 to 20 candles** for understanding the daily trend.
- **30 to 50 candles** for trends over a couple of days.
- **100 to 120 candles** for an intra-week trend view.
Experimenting with these settings and backtesting on historical data will help you find the optimal number of candles for your specific trading style and the assets you trade.
Guidelines for 1H Timeframes:
When analyzing trends on a 1-hour (1H) timeframe, you're focusing on short to medium-term trends, often used by day traders and short-term swing traders. Here’s how you can approach selecting the number of preceding candles:
1. **Short-Term Trend:**
- **14 to 21 Candles (14 to 21 Hours):** Using 14 to 21 candles on a 1-hour chart captures roughly half a day to a full day of trading activity. This range is ideal for day traders who want to identify short-term momentum and trend changes within a single trading day.
2. **Medium-Term Trend:**
- **50 Candles (2 Days):** A 50-period moving average on a 1-hour chart covers about two days of trading. This period is popular for identifying trends that may last a couple of days, making it useful for short-term swing traders.
3. **Longer-Term Trend:**
- **100 Candles (4 Days):** Using 100 candles gives you a broader view of the trend over about four days of trading. This is helpful for traders who want to align their trades with a more sustained trend that spans the entire week.
4. **Very Short-Term (Micro Trend):**
- **7 to 10 Candles (7 to 10 Hours):** For traders looking to capture micro trends or very short-term price movements, using 7 to 10 candles can provide a quick look at recent price action. This is often used for scalping or very short-term intraday strategies.
**Considerations:**
- **Market Volatility:** In highly volatile markets, using more candles (like 50 or 100) helps smooth out noise and provides a clearer trend signal. In less volatile conditions, fewer candles may suffice to capture trends.
- **Trading Style:** If you are a day trader looking for quick moves, shorter periods (like 7 to 21 candles) might be more suitable. For those who hold positions for a day or two, longer periods (like 50 or 100 candles) can provide better trend confirmation.
- **Asset Class:** The optimal number of candles can vary depending on the asset
Guidelines for 4H Timeframes:
When analyzing trends on a 4-hour (4H) timeframe, you’re generally looking to capture short to medium-term trends. This timeframe is popular among swing traders and intraday traders who want to balance between catching more significant market moves and not being too sensitive to noise. Here's how you can approach selecting the number of preceding candles:
1. **Short-Term Trend:**
- **14 to 21 Candles (2 to 3 Days):** Using 14 to 21 candles on a 4-hour chart covers roughly 2 to 3 days of trading activity. This range is ideal for traders looking to capture short-term momentum, especially in markets where price action can move quickly within a few days.
2. **Medium-Term Trend:**
- **50 Candles (8 to 10 Days):** A 50-period moving average on a 4-hour chart represents approximately 8 to 10 days of trading (considering 6 trading periods per day). This period is popular among swing traders for identifying trends that develop over the course of one to two weeks.
3. **Longer-Term Trend:**
- **100 Candles (16 to 20 Days):** Using 100 candles gives you a broader view of the trend over about 3 to 4 weeks. This is useful for traders who want to align their trades with the more sustained market direction while still remaining responsive to recent changes.
**Considerations:**
- **Market Conditions:** In a trending market, fewer candles (like 14 or 21) may be enough to identify the trend, allowing for quicker responses to price movements. In a more volatile or range-bound market, using more candles (like 50 or 100) can help smooth out noise and avoid false signals.
- **Trading Style:** If you are an intraday trader, shorter periods (14 to 21 candles) may be preferable, as they allow for quick entries and exits. Swing traders might lean towards the 50 to 100 candle range to capture trends that last several days to a few weeks.
- **Volatility:** The higher the volatility of the asset, the more candles you might want to use to ensure that the trend signal is not too erratic.
**Common Approaches:**
- **20-Period Moving Average:** A 20-period moving average on a 4-hour chart is often used by traders to capture short-term trends that align with momentum over the past few days.
- **50-Period Moving Average:** The 50-period moving average is widely used on the 4-hour chart to track medium-term trends. It provides a good balance between reacting to new trends and avoiding too many whipsaws.
- **100-Period Moving Average:** The 100-period moving average offers insight into the longer-term trend on the 4-hour chart, helping to filter out short-term noise and confirm the overall market direction.
**Recommendation:**
- **Start with 20 Candles for Short-Term Trends:** This period is useful for capturing quick movements and short-term trends over a couple of days.
- **Use 50 Candles for Medium-Term Trends:** This is a standard setting that provides a balanced view of the market over about 1 to 2 weeks.
- **Consider 100 Candles for Longer-Term Trends:** This helps to identify more significant trends that have persisted for a few weeks.
**Practical Example:**
- **Intraday Traders:** If you’re focused on shorter-term trades and need to react quickly, using 14 to 21 candles will help you capture the most recent momentum.
- **Swing Traders:** If you’re looking to hold positions for several days to a few weeks, starting with 50 candles will give you a clearer picture of the trend over that period.
- **Position Traders:** For those holding positions for a longer duration within a month, using 100 candles helps to align with the broader trend while still being responsive enough for 4-hour price movements.
Backtesting these settings on your chosen asset and strategy will help refine the optimal number of candles for your specific needs.
Guidelines for Daily Timeframes:
When analyzing trends on a daily timeframe, you're typically focusing on short to medium-term trends. Here’s how you can determine the optimal number of preceding candles:
1. **Short-Term Trend:**
- **10 to 20 Candles (2 to 4 Weeks):** Using 10 to 20 daily candles captures about 2 to 4 weeks of price action. This is commonly used for identifying short-term trends, ideal for swing traders or those looking for quick entries and exits within a month.
2. **Medium-Term Trend:**
- **50 Candles (2 to 3 Months):** The 50-day moving average is a classic choice for capturing medium-term trends. This period covers about 2 to 3 months of trading days and is often used by swing traders and investors to identify the trend over a quarter or a season.
3. **Long-Term Trend:**
- **100 to 200 Candles (4 to 9 Months):** For longer-term trend analysis, using 100 to 200 daily candles gives you a broader perspective, covering approximately 4 to 9 months of price action. The 200-day moving average, in particular, is widely used by investors to determine the overall long-term trend and to assess market health.
**Considerations:**
- **Market Volatility:** In more volatile markets, using a larger number of candles (e.g., 50 or 200) helps smooth out noise and provides a more reliable trend signal. In less volatile markets, fewer candles might be sufficient to capture trends effectively.
- **Trading Style:** Day traders might prefer shorter periods (like 10 or 20 candles) for quicker signals, while position traders and longer-term swing traders might opt for 50 to 200 candles to focus on more sustained trends.
- **Asset Class:** The optimal number of candles can also depend on the asset class. For example, equities might have different optimal settings compared to forex or cryptocurrencies due to different volatility characteristics.
**Common Approaches:**
- **20-Period Moving Average:** The 20-day moving average is a popular choice for short-term trend analysis. It’s widely used by traders to identify the short-term direction and to make quick trading decisions.
- **50-Period Moving Average:** The 50-day moving average is a staple for medium-term trend analysis, often used as a key indicator for both entry and exit points in swing trading.
- **200-Period Moving Average:** The 200-day moving average is crucial for long-term trend identification. It's commonly used by investors and is often seen as a major support or resistance level. When the price is above the 200-day moving average, the market is generally considered to be in a long-term uptrend, and vice versa.
**Recommendation:**
- **Start with 20 Candles for Short-Term Trends:** This period is commonly used for identifying recent trends within the last few weeks.
- **Use 50 Candles for Medium-Term Trends:** This provides a good balance between responsiveness and stability, making it a good fit for most swing trading strategies.
- **Use 200 Candles for Long-Term Trends:** This period is ideal for long-term analysis and is particularly useful for investors looking at the overall market trend.
**Practical Example:**
- If you’re trading equities and want to catch short-term trends, start with 20 candles to identify trends that have developed over the past month.
- If you’re more focused on medium to long-term trends, consider using 50 or 200 candles to ensure you’re aligned with the broader market direction.
Experimenting with these periods and backtesting on historical data will help you determine the best setting for your particular strategy and the asset you're analyzing.
Guidelines for Weekly Timeframes:
When analyzing trends on a weekly timeframe, you're typically looking at intermediate to long-term trends. Here's how you might approach selecting the number of preceding candles:
1. **Intermediate-Term Trend:**
- **13 to 26 Candles (3 to 6 Months):** Using 13 to 26 weekly candles corresponds to a period of 3 to 6 months. This range is effective for identifying intermediate-term trends, which is suitable for swing traders or those looking to hold positions for several weeks to a few months.
2. **Medium-Term Trend:**
- **26 to 52 Candles (6 Months to 1 Year):** For a broader view, you might use 26 to 52 weekly candles. This represents 6 months to 1 year of price data, which is helpful for understanding the market’s behavior over a medium-term period. This range is commonly used by swing traders and position traders who are interested in capturing trends lasting several months.
3. **Long-Term Trend:**
- **104 Candles (2 Years):** Using 104 weekly candles gives you a 2-year perspective. This can be useful for long-term trend analysis, particularly for investors or those looking to identify major trend reversals or continuations over a more extended period.
**Considerations:**
- **Market Type:** In trending markets, fewer candles (like 13 or 26) may work well, capturing the trend more quickly. In choppier or range-bound markets, using more candles can help reduce noise and avoid false signals.
- **Asset Class:** The optimal number of candles can vary depending on the asset class. For example, equities might benefit from a slightly shorter lookback period compared to more volatile assets like commodities or cryptocurrencies.
- **Volatility:** If the market or asset you're analyzing is highly volatile, using a higher number of candles (like 52 or 104) can help smooth out price fluctuations and provide a more stable trend signal.
**Common Approaches:**
- **20-Period Moving Average:** A 20-week moving average is popular among traders for identifying the intermediate trend. It’s responsive enough to capture significant trend changes while filtering out short-term noise.
- **50-Period Moving Average:** The 50-week moving average is often used to identify longer-term trends and is commonly referenced in both technical analysis and by longer-term traders.
- **200-Period Moving Average:** Although less common on weekly charts compared to daily charts, a 200-week moving average can be used to identify very long-term trends, such as multi-year market cycles.
**Recommendation:**
- **Start with 26 Candles:** This gives you a half-year perspective and is a good starting point for most analyses on a weekly timeframe. It balances sensitivity to recent trends with the ability to capture more significant, sustained movements.
- **Adjust Based on Backtesting:** You can increase the number of candles to 52 if you find that you need more stability in the trend signal, or decrease to 13 if you're looking for a more responsive signal.
Experimenting with different periods and backtesting on historical data can help determine the best setting for your specific strategy and asset class.
Guidelines for Monthly Timeframes:
For analyzing trends on monthly timeframes, you would generally be looking at much longer periods to capture the broader, long-term trend. Here's how you can approach it:
1. **Long-Term Trend (Primary Trend):**
- **12 to 24 Candles (1 to 2 Years):** Using 12 to 24 monthly candles corresponds to a period of 1 to 2 years. This is typically sufficient to identify long-term trends and is commonly used by long-term investors or position traders who are interested in the overall direction of the market or asset over multiple years.
2. **Very Long-Term Trend (Secular Trend):**
- **36 to 60 Candles (3 to 5 Years):** To capture very long-term secular trends, you might use 36 to 60 monthly candles. This would represent a time frame of 3 to 5 years and is often used for understanding macroeconomic trends or very long-term investment strategies.
3. **Ultra Long-Term Trend:**
- **120 Candles (10 Years):** In some cases, especially for assets like indices or commodities that are analyzed over decades, using 120 monthly candles can help in identifying ultra long-term trends. This would be appropriate for strategic investors or those looking at generational market cycles.
**Considerations:**
- **Volatility and Stability:** Monthly timeframes generally smooth out short-term volatility, but they can also be slow to react to changes. Using a larger number of candles (e.g., 24 or more) can help ensure that the trend signal is robust and not prone to frequent whipsaws.
- **Asset Class:** The choice of period might also depend on the asset class. For instance, equities might require fewer candles compared to commodities or currencies, which can exhibit different trend dynamics.
- **Market Phases:** In different market phases (bullish, bearish, or sideways), the number of candles might need to be adjusted. For instance, in a strongly trending market, fewer candles might still provide a reliable trend indication, whereas in a more volatile or ranging market, more candles might be needed to smooth out the data.
**Common Approaches:**
- **50-Period Moving Average:** A 50-month moving average is popular among long-term traders and investors for identifying the primary trend. It offers a balance between capturing the overall trend and being responsive enough to significant changes.
- **200-Period Moving Average:** Although rarely used on a monthly chart due to the long timeframe it represents (over 16 years), it can be useful for identifying very long-term secular trends, especially for broad market indices or in macroeconomic analysis.
**Recommendation:**
- **Start with 24 Candles:** This gives you a 2-year perspective on the trend and is a good starting point for most long-term analyses on monthly charts. Adjust upwards if you need a broader trend view, depending on the stability and nature of the asset you're analyzing.
Experimentation and backtesting with your specific asset and strategy can help fine-tune the exact number of candles that work best for your analysis on a monthly timeframe.
DP-OCR MTF & MA 2024This script developed is designed for multi-timeframe analysis of previous open, close, and range, with additional signal plots based on various percentage extension levels. It also incorporates EMA calculations for crossover strategies. Here's a quick breakdown of what the script does:
Key Features:
1. Timeframes:
o Two separate timeframes (TF1 and TF2), which can be set by the user (e.g., 15 mins, 30 mins, daily, etc.). The script computes price actions and extensions for both timeframes. For better analysis, use Daily in TF1 and Weekly in TF2
2. Extension Levels:
o Calculates and plots 10%, 21%, 31%, 51%, and 61% extensions (both positive and negative) for each timeframe.
o The most commonly used extension levels are 61%, 31%, -61%, and -21%.
o These extension levels can be turned on or off by the user.
3. Open/Close/Range:
o Tracks the high, low, open, and close for both timeframes.
o Highlights open/close gaps.
o Plots the previous high/low range for both timeframes with a fill and different colors based on price movement.
How to Use:
• You can toggle specific extension levels on or off in the script’s settings.
• For example, when price hits a +61% extension, it could signal a breakout, and when it hits a -61% extension, it may indicate a potential retracement.
• Use these levels in conjunction with your price action analysis to set entry/exit points or stop-loss levels.
4. Today’s Open:
o Plots today’s opening price for both timeframes.
How to Use:
• Use today’s open as a key reference point to determine the day’s price action.
• Compare today’s open with the previous high/low or extension levels to evaluate possible trends or reversals.
5. EMA Calculations:
o The script calculates 5, 15, and 20 period EMAs and plots them on the chart.
o Additional EMA crossover signals can be included for strategy optimization.
How to Use:
• Observe the EMAs for potential crossover signals. For example, a 5-period EMA crossing above a 15-period or 20-period EMA may signal a buy opportunity, while a crossover in the opposite direction may signal a sell.
• Combine the EMA crossovers with extension levels or previous price data to refine your entries and exits.
Customizations Available:
• Users can select whether to display extension levels for either timeframe.
• The script allows automatic adaptation to intraday, daily, weekly, or monthly timeframes based on the current chart settings.
Moreover, the extension levels are calculated based on the previous period’s range, with the most commonly usable extension levels being 61, 31, -61, and -21. These levels are often used for identifying potential price retracements, breakouts, or reversal points in technical analysis.
PulsarStruct Minor PremiumPulsarStruct Minor Premium
Introduction:
PulsarStruct Minor Premium is a powerful market analysis indicator designed for traders focused on lower timeframes and minor market structures. This tool is specifically built to track micro-structures and identify breakouts of key accumulation and distribution zones, helping traders make quick, informed decisions.
Unlike traditional multi-timeframe (HTF or MTF) indicators, PulsarStruct Minor Premium concentrates on local movements within minor structures, giving you an edge in tracking the immediate dynamics of the market.
This indicator is part of a package that includes Orion, Phoenix, and OptiStruct™ Premium from AlbaTherium, making it an ideal complement to these tools. By combining PulsarStruct Minor Premium with the multi-timeframe insights of these other indicators, you can optimize both local and broader market analysis.
Key Features:
Minor structure analysis: Track small market movements and their impacts on critical zones.
Breakout detection: Identify key breakouts from accumulation and distribution levels to anticipate future market movements.
Optimized entry signals: Focus on micro-breakouts and reversals for precise entry opportunities.
Analysis without volume dependency: The indicator operates based purely on price action, independent of volume.
How It Works:
PulsarStruct Minor Premium detects accumulation and distribution zones within minor market structures. By identifying these critical areas, the indicator pinpoints potential breakout levels, signaling traders when a significant shift in the market structure is occurring.
The tool’s logic is built to focus on micro-breakouts, which are often the first signals of trend continuation or reversal. It uses an algorithm that tracks price action across local structures and generates signals based on price movements relative to these key levels.
Practical Examples:
Accumulation and Distribution within a Range:
Imagine a consolidation period within a minor structure where accumulation takes place around a key support level. PulsarStruct Minor Premium marks this zone of interest. As the price starts to break out from the accumulation zone, the indicator signals a potential long entry in alignment with the trend.
Accumulation example: A 1 minute chart shows accumulation around a minor support level, followed by a bullish breakout. The indicator confirms the breakout, signaling a long entry opportunity.
Distribution example: Similarly, in a bearish market, a distribution phase around a key resistance level is followed by a breakout to the downside, confirming a short entry opportunity.
Example:
Accumulation and Distribution Example
Pro-Trend Entry Setup:
When trading with the trend, PulsarStruct Minor Premium helps identify high-probability entry points by detecting breakouts from accumulation or distribution levels. The indicator aligns these breakouts with the prevailing trend, offering precise entry signals.
Pro-trend Long Entry example: In an uptrend, the price pulls back into an accumulation zone, followed by a breakout above a minor high. The indicator detects the breakout, signaling a long entry aligned with the trend.
Pro-trend Short Entry example: In a downtrend, a small distribution phase forms at resistance, and a breakout below a minor support is detected, offering a short entry in line with the trend.
Example:
Pro-Trend Example
Minor Structure Breakouts:
PulsarStruct Minor Premium detects breakouts of minor structures, allowing traders to enter trades based on local setups. The indicator tracks price movements relative to these critical levels and provides signals for both long and short trades.
Breakout example: A local support level breaks under selling pressure, signaling a bearish reversal. The indicator alerts traders before the broader market reacts.
Example:
Breakout Example
Conclusion:
PulsarStruct Minor Premium is an essential tool for traders who focus on lower timeframes and minor structures. By concentrating on accumulation/distribution phases and key breakout levels, it allows for faster, more precise decision-making. For users of Orion, Phoenix, or OptiStruct™ Premium , this indicator provides a perfect complement, adding a layer of structured analysis that integrates seamlessly with multi-timeframe strategies.
Whether you’re looking for rapid entries or confirmations in micro-breakouts, PulsarStruct Minor Premium will help you stay in sync with market movements. Take advantage of this innovative tool and optimize your trading performance.
OnChart - SuiteThe Motivation Behind OnChart Suite
In the dynamic world of trading, the ability to interpret market trends and make timely decisions is paramount. OnChart Suite was developed to empower traders by offering a comprehensive suite of tools that combine advanced analysis with intuitive user experience. The goal is to support traders in navigating complex market environments, helping them refine their strategies and gain a deeper understanding of price movements.
█ Key Features
🤖 ApexAlphaClouds: Identifies potential price rejections or breakthroughs by analyzing dynamic price ranges.
🔢 Matrix Algo: Offers multi-timeframe trend sentiment analysis using key market indicators.
🎯 CandleSniper: Detects key decision points based on phase calculation and Fibonacci levels.
🧲 MagnetZone Horizon: Highlights strategic price zones that can act as smart FVGs.
🟢 NeonZenith: Combines trend analysis with decision points and Fibonacci targets.
█ How These Tools Work Together
OnChart Suite integrates each of these powerful tools to provide traders with a comprehensive analysis framework. By combining the ApexAlphaClouds for price movement intuition, the Matrix Algo for trend sentiment, the CandleSniper for decision points, the MagnetZone Horizon for strategic price zones, and the NeonZenith for trend and target analysis, traders can develop robust trading strategies. This integration ensures that traders have access to multiple perspectives on market conditions, enhancing their ability to make calculated decisions.
█ Detailed Feature Explanations:
--------------🤖 ApexAlphaClouds --------------
How the Tool Can Help Traders
The `ApexAlphaClouds` indicator is designed to assist traders by identifying dynamic price ranges where the market tends to consolidate, which are critical for making informed trading decisions. The tool uses an ML algorithm to analyze high-price data over a set period and determines key levels on the chart, which are visualized as "clouds." These clouds represent potential support and resistance areas, where price action is likely to pause, reverse, or experience increased volatility.
The primary benefit for traders is the ability to identify these key zones in real-time, allowing them to anticipate potential market movements and plan trades accordingly. For example, if a trader sees that price is approaching a cloud boundary, they might expect a reversal or a breakout, depending on the broader market context. This can be particularly useful in range-bound markets or when looking for potential entry and exit points in trending markets.
How Traders Can Use the Indicator
Identifying Support and Resistance:
The clouds plotted by the `ApexAlphaClouds` indicator can be used to identify dynamic support and resistance levels. Traders can watch how the price reacts when it enters these clouds. If the price bounces off a lower cloud, it may suggest support, while a rejection from an upper could indicate resistance.
Trend Reversals and Continuations:
The indicator's middle cloud can help identify potential trend reversals. If price moves through the middle cloud and continues in the same direction, it could indicate a trend continuation. Conversely, if price reverses within the middle cloud, it might signal a potential trend reversal.
Volatility and Breakouts:
The distance between the upper and lower clouds can give traders an idea of market volatility. Narrow clouds suggest low volatility, which may precede a breakout, while wide clouds indicate higher volatility, where prices might oscillate within the range.
Settings Input and Their Effects
’ApexAlphaClouds` (Toggle) -This setting allows the trader to enable or disable the `ApexAlphaClouds` indicator on their chart.
Effect: When enabled, the clouds representing dynamic price ranges will be displayed on the chart. Disabling this will hide the indicator’s outputs.
Target Area Size - This setting determines the number of bars (length) the algorithm considers when collecting high prices for clustering.
Effect: A larger value will make the indicator consider a broader historical range, potentially smoothing out the clouds and identifying longer-term price ranges. A smaller value will focus on more recent price action, which might be useful for short-term trading strategies.
Accuracy - This setting specifies the number of groups that the algorithm will try to identify within the selected data range.
Effect: A higher value increases the number of identified clusters, making the indicator more sensitive to minor fluctuations in price. This can be useful for traders looking to identify multiple potential reversal points. A lower value will focus on the most prominent price clusters, which may be more relevant for long-term analysis.
Maximum Calibration - This setting controls the maximum number of iterations the machine learning algorithm will perform to find the optimal clusters.
Effect: Increasing allows the algorithm more time to refine the clusters, potentially leading to more accurate and stable clouds. However, it may also increase the computation time. Decreasing this value may speed up the process but could result in less accurate clustering.
Wide Range Calibration - This setting determines the maximum number of bars the algorithm will consider when applying the clustering.
Effect: A larger value allows the algorithm to analyse a wider range of historical data, which can help identify significant long-term price ranges. A smaller value will limit the analysis to more recent data, which might be preferable for traders focused on short-term movements.
Smoothing Factor - This setting applies a smoothing function to the clouds, reducing noise and making the price ranges more visually consistent.
Effect :A higher smoothing factor will produce smoother, more consistent clouds, which might be beneficial in volatile markets to avoid false signals. A lower smoothing factor will make the clouds more responsive to recent price changes, which could be useful for scalping or short-term trading strategies.
Usage Scenarios
Scalping:
Traders using short-term strategies might set Accuracy to a smaller value and reduce the Smoothing Factor to make the clouds more responsive to recent price action. This helps in identifying quick reversal points.
Swing Trading:
Swing traders could use a larger Target Area Size and increase Accuracy to identify key price ranges that have held over longer periods. Adjusting Wide Range Calibration to a higher value allows them to consider broader historical trends.
Trend Following:
By observing how price interacts with the clouds, trend-following traders can look for breakouts or breakdowns from the clouds to confirm entry points in the direction of the trend.
Volatility Management:
Traders can monitor the width of the clouds to gauge market volatility and adjust their strategies accordingly, tightening stops in narrow cloud ranges or widening them in broader ranges.
Conclusion
The `ApexAlphaClouds` indicator is a powerful tool for traders looking to analyze price action with a focus on dynamic price ranges. By understanding and utilizing the settings, traders can customize the indicator to fit their specific trading strategies, whether they are scalping, swing trading, or trend following. The key is to adjust the inputs based on the market context and trading goals, using the clouds as a visual guide to anticipate market movements and make informed decisions.
--------------🔢 Matrix Algo --------------
Matrix Algo is a multi-timeframe (MTF) tool designed to provide traders with a comprehensive view of market conditions across different timeframes using a combination of popular technical indicators. The indicator aggregates data from RSI, MACD, and Bollinger Bands across multiple timeframes, presenting this information in a matrix format to help traders make informed decisions based on a complete market overview. This allows traders to quickly assess the overall market sentiment and trend direction without having to manually check each indicator on different timeframes. By offering a bird’s-eye view of the market conditions.
How Traders Can Use Matrix Algo?
Identify Trends and Reversals: By analysing the matrix, traders can identify whether the market is bullish, bearish, or in consolidation across different timeframes.
Confirm Signals: The Matrix Algo can confirm signals from other trading strategies by providing additional context from multiple indicators across several timeframes.
Settings:
Toggle individual timeframes - (Monthly, Weekly, 3D, Daily, 4h, etc.) to include or exclude from the matrix.
Effect: The matrix displays whether the market conditions are favorable (green) or unfavorable (red) for each indicator and timeframe combination. This color-coded information helps traders quickly assess the market situation.
--------------🎯 CandleSniper --------------
Overview:
The CandleSniper indicator is designed to identify potential turning points in the market by combining various technical analysis tools. It leverages a combination of the MACD indicator, advanced phase analysis technique, and Fibonacci levels to highlight moments where price action may be reversing. This helps traders spot divergence opportunities and set potential target levels.
Explanation
MACD Divergence with Phase Analysis:
The indicator leverages the MACD (Moving Average Convergence Divergence) to identify divergences, which can indicate potential reversal points in the market. The MACD is computed using standard short and long lengths, along with a signal line.
An advanced phase analysis technique is employed to measure the difference between price and its moving averages, enabling the identification of cyclical turning points in the market
A potential bullish decision point is identified when the MACD line crosses above the signal line during a cyclical turning point. Conversely, a potential bearish decision point is identified when the MACD line crosses below the signal line during a cyclical turning point.
Fibonacci Levels for Targeting:
The indicator calculates Fibonacci extension levels based on recent price swings to provide target levels for potential price movements.
For a bullish setup, the indicator identifies levels above the current price as potential targets, while for a bearish setup, it identifies levels below the current price.
Fib Filter Line:
The Fib Filter Line is represented in purple for bullish turning points and white for bearish turning points. These lines serve as additional filters to help traders identify stronger, more reliable turning points in the market. Designed for those who prefer a more conservative approach, the Fib Filter Line offers an extra layer of confirmation based on price movements, allowing traders to filter out weaker signals and focus on more significant market shifts.
Inputs and Settings:
lookbackPeriod: Defines the period over which the indicator looks back to calculate the Fibonacci levels. Adjusting this setting can change the sensitivity of the decision points.
Dimmer and DimmerPeriod: These settings control the smoothing applied to the price data before the phase calculation. They help in reducing noise and ensuring that only significant price movements are considered for decision points.
How to Use:
Traders can use the CandleSniper indicator to identify potential decision points by observing the color changes on the bars and the plotted Fibonacci levels:
🟢 Bullish Decision Points:
When the indicator detects a bullish divergence, it highlights the bars in purple and plots potential upward Fibonacci levels as targets.
🔴 Bearish Decision Points:
When a bearish divergence is detected, the indicator highlights the bars in white and plots downward Fibonacci levels as targets.
These decision points can help traders identify when the market might be ready for a reversal or continuation or even use as a start point from where the trader can start his own analysis
Combining with Other Tools
The CandleSniper indicator can be combined with other OnChart tools to create a comprehensive trading framework:
🔢 Matrix Algo:
Use Matrix Algo to assess the overall market sentiment across multiple timeframes, then apply CandleSniper for pinpointing specific entry or exit points.
🤖 ApexAlphaClouds:
Overlay ApexAlphaClouds to visualise dynamic price ranges, using CandleSniper to identify decision points within these ranges.
This combination allows traders to develop a robust trading strategy that considers broader market trends and specific price action signal intuition.
--------------🧲 MagnetZone Horizon --------------
Overview:
The MagnetZone Horizon indicator is a specialized tool designed to identify potential gaps between two significant changes in the Average True Range (ATR). These gaps, calculated dynamically, serve as areas where the price might react, often acting as smart Fair Value Gaps (FVG). By highlighting these zones, traders can gain insights into where the market might find support, resistance, or potential reversal points.
How Traders Can Use This Indicator:
Identifying Smart Fair Value Gaps:
The MagnetZone Horizon indicator helps traders locate gaps between ATR shifts that are likely to act as significant decision points. These gaps can indicate areas where price corrections or consolidations might occur, providing opportunities for strategic entries or exits.
Adaptive Support and Resistance:
The levels calculated by the indicator adjust according to market volatility, offering dynamic support and resistance zones. These zones are particularly useful in identifying potential reversals or continuation patterns.
Volatility-Based Trading:
Since the indicator bases its calculations on ATR, it inherently adjusts to market conditions, allowing traders to align their strategies with the current level of volatility. This adaptability makes it suitable for both trending and range-bound markets.
Settings and Their Impact:
MagnetZone Horizon (Enable/Disable): This toggle allows traders to activate or deactivate the visualization of the MagnetZone Horizon on their charts.
Factor: This setting multiplies the ATR to scale the detected gaps. A higher factor results in broader zones, which might capture more significant market movements, while a lower factor creates tighter zones for more precise analysis.
Factor=5
Factor=7
Division: This setting works in conjunction with the Factor to further refine the gap calculations. Adjusting the Division setting allows traders to fine-tune how sensitive the indicator is to ATR changes, which can help in pinpointing more precise smart FVGs.
Use Cases:
Gap Trading:
Traders can use the identified gaps as potential areas to enter or exit trades, particularly if the price approaches these smart FVGs. The idea is to capitalize on the likelihood that the market will react to these gaps.
Reversal Identification:
The zones marked by the MagnetZone Horizon can indicate potential reversal points, especially in volatile markets where significant ATR changes suggest a shift in market sentiment.
Trend Continuation or Rejection:
By monitoring how the price interacts with these dynamically calculated zones, traders can assess whether a trend is likely to continue or reverse, aiding in more informed trading decisions.
The MagnetZone Horizon indicator is particularly useful for traders looking to identify significant gaps in market activity that are influenced by volatility. These smart FVGs provide a deeper understanding of where the market might react, offering a valuable tool for enhancing trading strategies and adds another strategic piece to the puzzle in the OnChart Suite.
--------------🟢NeonZenith Indicator--------------
Overview:
NeonZenith is a tool designed to provide traders with a better understanding of market trends and potential decision points by utilising multiple elements, including EMAs and Fibonacci levels. This indicator identifies key structures in recent price movements, helping traders recognize potential trend shifts and generate target levels for their trading strategies. Additionally, NeonZenith incorporates elements from the ApexAlphaCloud to enhance the interpretation of market sentiment, particularly regarding price rejections or breakthroughs.
Key Features:
Trend Direction Identification:
NeonZenith uses EMAs to help traders gauge the overall trend direction. By analysing the relationship between different EMAs, the tool highlights potential points where trends may strengthen or reverse, offering decision points for traders to consider in their strategies.
Decision Points:
The tool generates decision points based on EMA interactions, providing traders with crucial levels that may indicate potential market entries or exits. These decision points are derived from the intersection of EMAs, which are known for their reliability in identifying trend shifts.
Fibonacci Target Levels:
Based on the identified price structures, NeonZenith calculates Fibonacci levels that serve as potential target areas. These levels help traders set realistic goals for their trades, whether they are looking to take profits or manage risks effectively.
ApexAlphaCloud Integration:
The tool integrates a middle cloud from the ApexAlphaCloud, which helps traders anticipate potential price rejections or breakthroughs. This cloud provides additional context to the trend analysis, enhancing traders' ability to gauge the market's sentiment and make them think about potential price movements.
Settings:
Left and Right Border Width:
These settings control the lookback period for identifying significant price structures. By adjusting these parameters, traders can fine-tune the sensitivity of the indicator to recent price movements.
Fibonacci Calculation:
The tool calculates Fibonacci levels based on recent lows and highs, offering multiple targets for both long and short positions. These targets include various levels that traders can use to plan their entry, take-profit, and stop-loss orders.
Plotting and Visualization:
NeonZenith provides clear visual cues on the chart, including shapes and labels to mark significant decision points and target areas. These visual elements help traders quickly interpret the information provided by the indicator and apply it to their trading strategies.
How to Use NeonZenith:
Trend Identification:
Use the tool to identify the current trend direction by observing the interaction between the EMAs ,the flag sign and triangle, flag represent general trend changes and the triangle represents minor and inside trend changes.
Fibonacci Levels:
Use the generated Fibonacci levels to set target areas for your trades. These levels can guide you in deciding where to take profits or place stop-loss orders.
Sentiment Gauge:
Utilise the middle cloud from the ApexAlphaCloud to assess potential price rejections or breakthroughs. This feature provides additional insight into the strength of the current trend and helps you anticipate possible market reversals.
Conclusion:
NeonZenith is a versatile and simple tool designed to support traders in understanding market trends, identifying decision points, and setting realistic targets based on Fibonacci levels. Its integration with the ApexAlphaCloud enhances the tool's ability to provide a comprehensive view of market sentiment, making it a valuable addition to any trader's toolkit.
Smooth Trailing Stop
Trading indicator designed to provide traders with a dynamic and responsive stop-loss mechanism, leveraging a combination of Zero Lag Exponential Moving Averages (ZEMA) and the Average True Range (ATR). This indicator is particularly useful for traders looking to capture trends while managing risk effectively. Future notes: will add MTF analysis. First
Key Features:
Zero Lag EMA (ZEMA): This indicator uses a Zero Lag EMA, which helps to reduce the lag traditionally associated with moving averages, providing a more accurate reflection of price action.
ATR-Based Trailing Stop: The stop-loss level is dynamically calculated using a multiplier of the ATR, which adjusts to the volatility of the market, ensuring that the stop-loss distance is neither too tight nor too loose.
Position Tracking: The indicator tracks the position (long or short) based on the relationship between the price and the trailing stop, coloring the stop line green for a long position and red for a short position.
Candle Coloring: Candles are colored green when a buy signal is generated and red otherwise, giving a visual cue to the trader.
Customizable Inputs:
Period: Define the number of periods used for the ZEMA calculation.
ATR Period & Multiplier: Adjust the period and multiplier used for ATR, allowing for customization based on the trader’s risk tolerance and market conditions.
Line Width: Customize the width of the trailing stop line for better visibility on the chart.
This indicator is suitable for traders of all experience levels who are looking for a smooth trailing stop system for their trading strategy.
Market Oracle Plus [ChartPrime]ChartPrime Oracle Plus combines actionable, elegant and functional indicators into a single toolkit. It builds upon previously laid out creations in order to create a more advanced experience. Combinations of both trend following and contrarian logic aim to provide traders with a deeper insight into market movements; aiming to assist in better entries and exits.
Designed and created by the ChartPrime team, this toolkit takes deeper level theory and expresses it in a usable format for traders. ChartPrime Oracle Plus is designed to satisfy and cover major trading theories allowing the user to pick and select the features that fit them.
Trend signals, Prime Ranges and Quantum Reactor
When using any indicator suite it is important to understand these tools are there to assist trading rather than to be a single source of truth. Functionality such as Auto Maximization of parameters is there to guide and enhance user experience, however it is important to be aware of overfitting results.
Plus features:
ChartPrime Market Oracle Plus has introduced some unique additions in order to enhance traders’ experiences.
Custom Signals: Toolkits and signals often limit traders to a single algorithm. This reduces flexibility and adaptability in the market. Traders will often want to develop their own systems without the constraints of an existing one. Market Oracle Plus introduces a custom signals builder; taking components in the toolkit and allowing them to be combined into a single signal/alert. Want a signal when the trend changes with bullish candlestick patterns? With a few clicks this can now be enabled. Traders can also set alerts on their custom signals making automating trades easier than ever.
Custom signals labelled with a cross
The Quantum tools. Looking at the tiny in the market and making it clearer.
Quantum Bands: The quantum bands provide areas of highly likely reversals to occur by analysing market momentum and noise. They can be used classically and are comparable in application to the commonly used bollinger bands. When price finds itself inside a zone it is more likely to reverse. This is excellent when used in confluence with other reversal indicators. The reason these bands are unique is their ability to adapt to trending markets allowing not only reversals to be identified in ranging markets but also trending ones leveraging volatility calculations. They also enable the user to use MTF functionality to load bands from higher timeframes. This allows users to have a broader perspective of support and resistance levels in the market.
The quantum bands are powerful for scalpers who want faster entries and exits. Entering a trade on a bands extremity can give earlier entries and exiting on the touch of the opposing band can serve as a great take profit.
Quantum Bands bounce
Quantum Reactor: The quantum reactor is a custom weighted moving average analyzing trends in the market. Unlike another moving averages; weighting has been considered to account for ranging markets. The Reactor will turn gray in a ranging market to avoid chop allowing for filtering of trades. This offers a unique insight into price action. Classical moving averages will constantly attempt to re-adapt to a trend whereas the Reactor will avoid adaptation where it sees fit.
Filtering a ranging market
Features included & Use cases:
Signal Mode: Select the type of assistive signals you are requiring. Provided are both trend following signals with self optimization using backtest results as well as reversal signals, aiming to provide real time tops and bottoms in markets. Both these signal modes can be fine tuned using the tuning input to refine signals to a trader's liking. The ChartPrime Auto Maximizer will automatically apply a backtested parameter and display the "best performing signals" on your chart. It is important to note this is not indicative of future results. ChartPrime Trend Signals leverage audio engineering inspired techniques and low-pass filters in order to achieve and attempt to produce lower lag response times and therefore is designed to have a uniqueness when compared to more classical trend following approaches.
Candle Highlighting: Choose between a clean gradient or more classical red/green coloring. These color the candles to assist with trend identification.
ChartPrime Dashboard: This redesigned dashboard provides 4 simple to interpret metrics. Firstly, the Optimal Tuning box provides a backtested result giving you the most accurate input. Again, it is important to note this is not indicative of future results. A Prime Score is also provided. This metric is a collection of ChartPrime trend following indicators bundled into a single item. It ranges from 0 (being a very bearish trend) to 10 (being a very bullish trend). 5 would indicate a ranging market. A consolidation score is also provided showing how "ranging" the market is. 10 being a low volatility and consolidating market and 0 being a more volatile and trending market which can assist the trader in avoiding ranges (if undesired). Finally the market prophecy gives simple forecasts in text form giving outlooks on potential activity.
The unique bar based visualization makes it clearer than ever to quantify key metrics on your chart.
Additional Features:
The Dynamic Reactor provides a simple band passing through the chart. This can provide assistance in support and resistance locations as well as identifying the trend direction expressed via green and red colors. Taking a moving average and applying unique low lag adaptivity calculations gives this plot a unique and fast behavior. This gives a unique edge to standard high length moving averages.
The Prime Ranges provide VWAP inspired real time actionable ranges on your chart. These ranges provide support and resistance levels as well as coloring, once again, there to aid trend identification. By generating a distribution and projecting it we produce real time levels for traders.
Candlestick structures analyze candlestick formation putting a spin on classical candlestick patterns and provide the most relevant formations on the chart. These are not classical and are filtered by further analyzing market activity. A trader's classic with a spin.
The Prime Trend Assistant provides a trend following dynamic support and resistance level. This makes it perfect to use in confluence or as a filter for other supporting indicators. This is an adaptive trend following system designed to handle volatility leveraging filter kernels as opposed to low pass filters.
Settings:
Signal Mode: Drop down to select the types of signals wanted
Tuning: Integer input to adjust signal's responsiveness. Lower inputs result in more frequent signals being produced.
Auto Maximizer Toggle: Automatically apply a backtested parameter to the signals
Dashboard Size: Drop down to select the size of the dashboard
Dashboard Position: Change the location of the dashboard on your chart
Additional Features: A set of toggles turning on/off these indicators.
Example Usecases:
Trend based confluences:
ChartPrime Oracle Plus provides classical (all be-it self optimizing) trend based signals. When trading, taking into consideration other forms of confluences are crucial. Take the image below:
Here we see the quantum reactor being green suggesting the market was in an upwards trend. We then see a sell signal appear. Knowing that we were in a macro uptrend allows us to filter out signals that go against this. Albeit basic; understanding multi-level confluence is key.
Features such as the Prime Ranges have duplicate usecases whereby a trend can be identified via the color of the bands as well as providing TP/SL levels. Considering these assisting features is vital before entering a trade.
Contrarian trading methodologies:
Commonly; trading with a trending market is most well known. However; markets are just as susceptible to ranging behaviors. ChartPrime has designed this toolkit to cater to most market conditions. For example, finding confluence between reversal indicators such as our contrarian signals and the Quantum Band can provide for some very strong confluence that can help a trader attempt to enter at bottoms of retracements and achieve the best possible entries or exits.
Developing confluences as shown above can be key to a trader's success. It is important to avoid biases when looking at indicators and view the market as objectively as possible.
ChartPrime believes that there is no magic indicator that is able to print money. Indicator toolkits provide value via their convenience, adaptability 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
All content and developments created by ChartPrime are purely for informational & educational purposes only. Past performance does not guarantee future results. Suggested usecases are theoretical.
ADR (Log Scale) with MTF LabelsHere's a detailed presentation of the Average Daily Range (ADR) indicator, with a focus on its advantages compared to the classic ADR, its unique features, utility, and interpretation:
Advantages Compared to Classic ADR
1. Logarithmic Scale: Unlike the classic ADR, which uses a linear scale, this version uses a logarithmic scale for calculations. This approach provides a more accurate representation of relative price movements, especially for assets with large price ranges.
2. Multi-Timeframe Analysis: This enhanced ADR indicator allows traders to view daily, weekly, and monthly ADRs simultaneously. This multi-timeframe capability helps traders understand volatility trends over different periods, offering a more comprehensive market analysis.
3. Optional Smoothing: The inclusion of an optional smoothing feature (using Exponential Moving Average, EMA) helps reduce noise in the data. This makes the indicator more reliable by filtering out short-term fluctuations and highlighting the underlying volatility trend.
4. Information Display Labels: The indicator includes labels that display precise ADR values for each timeframe directly on the chart. This feature provides immediate, clear insights without requiring additional calculations or references.
Utility of the Indicator
1. Volatility Analysis: The ADR indicator is essential for assessing market volatility. By showing the average daily price range, it helps traders gauge how much an asset typically moves within a day, week, or month.
2. Risk Management: ADR levels can be used to set stop-loss points, improving risk management strategies. Knowing the average range helps traders avoid setting stops too close to the current price, which might otherwise be triggered by normal market fluctuations.
3. Setting Realistic Targets: By understanding the average daily range, traders can set more realistic profit targets. This helps in avoiding over-ambitious goals that are unlikely to be reached within the typical market movement.
4. Identifying Entry and Exit Points: The ADR can signal potential entry and exit points. For example, if the price approaches the upper or lower ADR boundary, it might indicate an overbought or oversold condition, respectively.
Interpretation and Examples
1. Increasing Volatility: If the ADR is increasing, it indicates rising market volatility. Traders might adjust their strategies accordingly, such as widening their stop-losses to accommodate larger price swings.
2. Range Breakout: If the price significantly exceeds the daily ADR, it may signal a strong trend or exceptional market movement. Traders can use this information to stay in the trade longer or to anticipate a potential reversal.
3. Mean Reversion: Prices often revert to the ADR mean. A trader might consider mean reversion trades when the price approaches the extremes of the ADR range, expecting it to move back towards the average.
4. Multi-Timeframe Comparison: If the daily ADR is higher than the weekly ADR, it may indicate unusually high short-term volatility. This can be a signal for traders to be cautious or to capitalize on the increased movement.
While the ADR indicator provides valuable insights into market volatility and can significantly enhance trading strategies, it is essential to remember that no indicator is foolproof. Market conditions can change rapidly, and past performance is not always indicative of future results. Traders should use the ADR indicator in conjunction with other tools and follow sound risk management practices to protect their capital.
MACD Screener [Luxmi AI] MTFMulti-Timeframe Stock Screener with MACD
Introduction
In the world of trading, having a reliable stock screener is crucial for identifying potential trading opportunities. One of the most effective tools for this purpose is the Moving Average Convergence Divergence (MACD) indicator. By using MACD crossovers and crossunders with the signal line as trend change indicators, traders can make informed decisions. This guide explores how to utilize a multi-timeframe stock screener built in Pine Script v5 that leverages the MACD indicator to its fullest potential.
Understanding the MACD Indicator
The MACD is a momentum indicator that shows the relationship between two moving averages of a security’s price. It consists of three main components:
MACD Line - The difference between the 12-period EMA (Exponential Moving Average) and the 26-period EMA.
Signal Line - A 9-period EMA of the MACD line.
Histogram - The difference between the MACD line and the signal line.
A crossover occurs when the MACD line crosses above the signal line, indicating a potential bullish trend. Conversely, a crossunder occurs when the MACD line crosses below the signal line, signaling a potential bearish trend.
Why Multi-Timeframe Analysis Matters
A multi-timeframe approach provides a more comprehensive view of the market by analyzing trends across different timeframes. This method enhances the reliability of trading signals, as it reduces the likelihood of false signals. For instance, a MACD crossover on both daily and weekly charts offers a stronger indication of a trend change than a single timeframe signal.
Using Your Multi-Timeframe Stock Screener
Here’s how to effectively use it:
1. Setting Up Your Screener
Ensure that your stock screener is configured correctly to analyze multiple timeframes. You should be able to input the desired timeframes (e.g., daily and weekly) and set the conditions for MACD crossovers and crossunders.
2. Selecting Stocks for Analysis
Start by choosing a universe of stocks to analyze. This can be a list of stocks from major indices like the S&P 500, Nifty50 or specific sectors you are interested in. The screener will then apply the MACD criteria to these stocks.
3. Interpreting the Signals
- Bullish Signal (UP): A MACD crossover on both the daily and weekly charts suggests a strong bullish trend. This indicates that the stock is likely to move upward in the near future.
- Bearish Signal (DOWN): A MACD crossunder on both the daily and weekly charts signals a strong bearish trend. This indicates that the stock is likely to decline.
4. Confirming Signals with Other Indicators
While the MACD is a powerful indicator, it’s always a good idea to confirm its signals with other technical indicators such as the Relative Strength Index (RSI) or moving averages. This multi-indicator approach can help you make more informed decisions and reduce the risk of false signals.
5. Monitoring and Adjusting
Regularly monitor the performance of the stocks' trend identified by your screener. Adjust the screener settings if necessary to improve its accuracy. Market conditions can change, and it’s important to ensure your screener adapts to these changes.
6. Backtesting and Validation
Before fully relying on the signals from your screener, backtest it using historical data. This will help you validate its effectiveness and fine-tune the parameters to achieve the best results.
Conclusion
Your multi-timeframe stock screener with MACD crossover and crossunder as trend change indicators is a powerful tool for identifying potential trading opportunities. By analyzing trends across different timeframes, you can gain a comprehensive view of the market and make more informed trading decisions. Remember to confirm signals with other indicators and regularly monitor the screener’s performance to ensure it remains effective in different market conditions. Happy trading!
Dynamic Support & Resistance Tracker with MTFDynamic Support & Resistance Tracker with Weekly, Monthly & Daily Levels
The Dynamic Support & Resistance Tracker is designed to help traders identify key support and resistance levels across multiple timeframes, enhancing market analysis and decision-making. This indicator calculates and plots support and resistance levels for daily, weekly, and monthly periods, along with extension lines that provide insights into potential price targets.
Key Features:
Multi-Timeframe Analysis:
Daily Levels: Identifies the high, low, and midpoint for each trading day. These levels help traders recognize important price points for short-term trading strategies.
Weekly Levels: Plots the high, low, and midpoint for each week. This feature is valuable for swing traders who need to understand broader market trends.
Monthly Levels: Displays the high, low, and midpoint for each month, which is essential for long-term investors.
Extension Lines:
Calculates extension lines beyond the standard support and resistance levels to help anticipate potential price targets and reversals. These extensions are based on the distance between the high/low and midpoint levels.
Real-Time Updates:
Automatically updates the levels based on the most recent market data, ensuring traders have the most current information for their analysis.
Clear Visuals:
The indicator provides clearly labeled and color-coded lines for easy identification of key levels, improving the visual clarity of market analysis.
How It Works:
Daily, Weekly, and Monthly Levels: The indicator calculates the high, low, and midpoint levels for daily, weekly, and monthly timeframes and plots them on the chart. These levels serve as potential areas of support and resistance where price action may react.
Extension Lines: The extension lines are calculated based on the distance between the high/low and midpoint levels, projecting potential areas where price may find support or resistance beyond the standard levels.
Automatic Updates: The indicator continuously updates the plotted levels based on the latest market data, providing real-time insights.
Benefits:
Improved Market Analysis: By providing a clear view of support and resistance levels across multiple timeframes, this indicator helps traders understand market trends and price movements more effectively.
Informed Trading Decisions: The detailed plotting of levels and extensions allows traders to make more informed decisions, enhancing their trading strategies.
Versatility: Suitable for various trading styles, including intraday trading, swing trading, and long-term investing.
Instructions for Use:
Analyze the Levels: Observe the plotted high, low, and mid-levels for daily, weekly, and monthly timeframes.
Plan Your Trades: Use the identified support and resistance levels to set your entry and exit points, stop-losses, and profit targets.
Monitor the Market: Stay updated with real-time adjustments of the levels, ensuring you always have the latest market information.
Note: This indicator is designed to enhance your trading analysis by providing clear and reliable support and resistance levels. However, it should be used as part of a comprehensive trading strategy and not as the sole basis for trading decisions.
RSI Screener / Heatmap - By LeviathanThis script allows you to quickly scan the market by displaying the RSI values of up to 280 tickers at once and visualizing them in an easy-to-understand format using labels with heatmap coloring.
📊 Source
The script can display the RSI from a custom timeframe (MTF) and custom length for the following data:
- Price
- OBV (On Balance Volume)
- Open Interest (for crypto tickers)
📋 Ticker Selection
This script uses a different approach for selecting tickers. Instead of inputting them one by one via input.symbol(), you can now copy-paste or edit a list of tickers in the text area window. This approach allows users to easily exchange ticker lists between each other and, for example, create multiple lists of tickers by sector, market cap, etc., and easily input them into the script. Full credit to @allanster for his functions for extracting tickers from the text. Users can switch between 7 groups of 40 tickers each, totaling 280 tickers.
🖥️ Display Types
- Screener with Labels: Each ticker has its own color-coded label located at its RSI value.
- Group Average RSI: A standard RSI plot that displays the average RSI of all tickers in the group.
- RSI Heatmap (coming soon): Color-coded rows displaying current and historical values of tickers.
- RSI Divergence Heatmap (coming soon): Color-coded rows displaying current and historical regular/hidden bullish/bearish divergences for tickers.
🎨 Appearance
Appearance is fully customizable via user inputs, allowing you to change heatmap/gradient colors, zone coloring, and more.
