BB LevelsBB Levels — Volatility-Based Weekly Trading Ranges
Overview:
BB Levels is a multi-timeframe indicator that projects weekly trading ranges using historical price behavior and volatility modeling. It combines data from both the 4H and Daily timeframes to provide a dual-perspective view of expected price extremes.
Solid Lines → Based on the Daily timeframe (smoother, broader volatility)
Dashed Lines → Based on the 4H timeframe (finer, more reactive to short-term volatility)
How It Works:
The indicator employs a Markov Switching Model to estimate the prevailing market regime and generate a forecasted directional bias. It then applies average historical volatility to project a weekly range:
The centerline is a forecasted “zero level” based on the prior week’s close, adjusted by regime and trend forecast.
The upper and lower bounds are derived from average weekly volatility, scaled to reflect expected movement.
Two versions are shown:
Daily (solid): Represents the more conservative, long-term expectations.
4H (dashed): Captures short-term momentum and faster volatility shifts.
Important Note:
These levels represent statistical expectations, not fixed boundaries. Price may:
Consolidate within the dashed (4H) range during quiet periods
Break beyond the solid (Daily) range during news events or trending expansions
Designed For:
Swing traders seeking structured, volatility-adjusted weekly levels
Day traders targeting high-probability reversal zones
Strategists combining trend forecasting with expected price behavior
Pesquisar nos scripts por "weekly"
Granular MA Ribbon🎗️ The Granular MA Ribbon provides a structured view of price action on lower timeframes by incorporating both price-based and volume-weighted moving averages, offering a more nuanced view of market trends and momentum shifts. Furthermore, by using 15-minute intervals for its calculations, it ensures that intraday traders receive a smooth and responsive representation of higher timeframe trends.
⚠️ Note that this indicator is specifically optimized for the 15-minute and 1-hour charts; applying it to longer or shorter periods will distort its calculations and reduce its effectiveness. Adjust visibility settings accordingly.
🧰 Unlike traditional moving averages that may lag or fail to reflect real-time shifts in price dynamics, the Granular MA Ribbon includes a one-day exponential moving average (1D EMA), a one-day volume-weighted moving average (1D VWMA), and a one-week exponential moving average (1W EMA). Together, these elements allow traders to stay aligned with the broader market while making precise intraday trading decisions.
🤷🏻 Why Two Daily Moving Averages?
🔊 Instead of relying on a single moving average, this indicator uses both an EMA and a VWMA to provide a clearer picture of price movement. The EMA reacts quickly to price changes, making it a useful tool for identifying short-term momentum shifts. The VWMA, meanwhile, accounts for volume, ensuring that price movements supported by higher trading activity carry greater weight in the trend calculation.
💪🏻 When the EMA and VWMA diverge significantly, it signals strong momentum. If they begin to converge, it suggests that momentum is weakening or that price may be entering consolidation. The space between these two moving averages is filled with a ribbon, making it easier to see shifts in trend strength. A wide ribbon typically indicates strong momentum, while a narrowing ribbon suggests the trend may be losing steam.
🧮 Calculation Rationale
🔎 The 1D EMA and 1D VWMA are constructed using 15-minute blocks to maintain accuracy on lower timeframes. A full trading day consists of 96 fifteen-minute intervals. Instead of relying on daily candle data, which would reduce the granularity of the moving averages, this method allows the indicator to reflect intra-day trends more accurately. By breaking the day into smaller increments, the moving averages adapt more smoothly to changes in price and volume, making them more reliable for traders working on shorter timeframes.
🔍 The weekly EMA follows the same logic, adjusting based on the selected five-day or seven-day setting. If the market follows a standard five-day trading week, the one-week EMA is calculated using 480 fifteen-minute bars. If the market trades seven days a week, such as in crypto, the weekly EMA is adjusted accordingly to reflect 672 fifteen-minute bars. This setting ensures that traders using the indicator across different asset classes receive accurate trend information.
🫤 Sideways Markets
🔄 When the broader market is in a range-bound state, with no clear trend on the one-day or one-week chart, this indicator helps traders make sense of the short-term price structure. In these conditions, the ribbon will often appear flat, with the 1D EMA and 1D VWMA frequently crossing each other. This suggests that momentum is weak and that price action lacks a strong directional bias.
⚠️ A narrowing ribbon in a sideways market indicates reduced volatility and a potential breakout. If the EMA crosses above the VWMA during consolidation, it may signal a short-term upward move, especially if volume begins to increase. Conversely, if the EMA moves below the VWMA, it could indicate that selling pressure is increasing. However, in choppy conditions, crossovers alone are not enough to confirm a trade. Traders should wait for additional confirmation, such as a breakout from a defined range or a shift in volume.
♭ If the weekly EMA remains flat while the daily ribbon fluctuates, it confirms that the market lacks a strong trend. In such cases, traders may consider fading moves near the top and bottom of a range rather than expecting sustained breakouts.
💹 Trending Markets
🏗️ When the market is in a strong uptrend or downtrend, the ribbon takes on a more structured shape. A widening ribbon that slopes upward signals strong bullish momentum, with price consistently respecting the 1D EMA and VWMA as support. In a downtrend, the ribbon slopes downward, acting as dynamic resistance.
📈 In trending conditions, traders can use the ribbon to time pullback entries. In an uptrend, price often retraces to the VWMA before resuming its upward move. If price holds above both the EMA and VWMA, the trend remains strong. If price begins to close below the VWMA but remains above the EMA, it suggests weakening momentum but not necessarily a reversal. A clean break below both moving averages indicates a shift in trend structure.
📊 The one-week EMA serves as a higher timeframe guide. When price remains above the weekly EMA, it confirms that the broader trend is intact. If price pulls back to the weekly EMA and bounces, it can provide a high-confidence trade entry. Conversely, if price breaks below the weekly EMA and fails to reclaim it, it suggests that the trend may be reversing.
⏳ 5-Day and 7-Day Week Variants
🎚️ The setting for a five-day or seven-day trading week adjusts the calculation of the one-week EMA. This ensures that the indicator remains accurate across different asset classes.
5️⃣ A five-day trading week is appropriate for stocks, futures, and forex markets, where trading pauses on weekends. Using a seven-day week for these markets would create artificial distortions by including non-trading days. 7️⃣ In contrast, the seven-day week setting is ideal for crypto markets, which trade continuously. Without this adjustment, the weekly EMA would fail to reflect weekend price action, leading to misleading trend signals.
🧐 This indicator is expressly designed to complement its higher timeframe counterpart, the Triple Differential Moving Average Braid, optimized for the 1-Day chart.
Overlay-ChartOverlay-Chart Indicator
The Overlay-Chart Indicator is an advanced script designed for scalpers and day traders, providing comprehensive insights into daily, weekly, monthly, and previous period price levels. This indicator helps traders visualize critical price levels and make informed decisions based on historical and current data.
Key Features:
Drawing Future Lines with Labels:
The script uses the drawFutureLine function to plot future price levels with customizable labels. This helps traders anticipate and react to key price points.
Daily Levels:
Displays the open, low, high, close, and equilibrium (EQ) prices for the current day. This provides a quick reference for daily trading ranges and significant price points.
Weekly Levels:
Shows the open, low, high, close, and equilibrium prices for the current week, offering a broader view of market trends and key weekly price levels.
Monthly Levels:
Illustrates the open, low, high, close, and equilibrium prices for the current month, enabling traders to understand long-term trends and significant monthly price points.
Previous Day, Week, and Month Levels:
Historical data from previous periods (day, week, month) is displayed, allowing traders to compare past and present price levels to identify patterns and potential support/resistance levels.
Customizable Colors:
Traders can choose colors for daily, weekly, monthly, and previous day levels to enhance chart readability and personalization.
Flexible Display Options:
Users can select which price levels (Open, Low, High, Close, EQ) to display for each period (daily, weekly, monthly, previous day, week, month).
How It Works:
The script fetches historical and current price data using the request.security function. It then uses these data points to draw lines on the chart representing significant price levels. These lines are drawn into the future to help traders visualize where these levels will be in upcoming bars. Labels are added to these lines for easy identification.
How to Use:
Configure Inputs:
Enable or disable the display of daily, weekly, monthly, and previous period levels using the input options.
Customize colors for different levels to match your charting preferences.
Analyze Key Levels:
Observe the plotted lines and labels to understand critical price points for the current and past periods.
Use this information to identify potential entry and exit points, support and resistance levels, and overall market trends.
Future Planned Features:
The script includes several features that are currently commented out but planned for future updates:
Volume Weighted Average Price (VWAP):
Display VWAP for daily, weekly, and monthly periods to provide an average price based on volume.
Point of Control (POC):
Show the price level with the highest trading volume for daily, weekly, and monthly periods.
Value Area High (VAH) and Low (VAL):
Display the upper and lower boundaries of the value area where most trading activity occurs for daily, weekly, and monthly periods.
These enhancements will offer additional insights into volume distribution and market sentiment, further improving the utility of the Overlay-Chart Indicator for traders.
This script is specifically designed to cater to the needs of scalpers and day traders who require precise, visually intuitive data for their trading strategies. The planned features will further enhance its effectiveness, providing a comprehensive tool for market analysis.
Previous Day, Week, Monday Liq + Asian, London & Ny session LiqGM Gs,
This indicator helps traders identify key liquidity levels from different market sessions (Asian, London, NY), as well as weekly and daily highs/lows. It automatically plots these levels on the chart, making it easier to spot potential support/resistance zones where price might react.
Key Features:
1. Multi-Timeframe Liquidity Zones
Previous Day High/Low – Tracks the prior day’s range.
Monday High/Low – Useful for weekly opening liquidity.
Previous Week High/Low – Helps identify broader weekly levels.
2. Customizable Session Times
Asian, London, and NY Session Highs/Lows – Automatically detects and plots key levels from each trading session.
Adjustable Time Zones – Supports multiple GMT offsets (GMT-8 to GMT+3), making it adaptable for traders worldwide.
3. Visual Customization
Color & Style Options – Each level type (e.g., London High, NY Low) can be customized in color, line style (solid, dashed, dotted), and width.
Faded Opacity for Swept Levels – When a level is swept (price breaks but closes beyond it), it becomes semi-transparent, helping traders distinguish active vs. invalidated levels.
4. Clean & Informative Labels
Each level has a clear label (e.g., "Asia High," "PW Low") for easy identification.
Adjustable label offsets prevent clutter on the chart.
Pros & Benefits for Traders:
✅ Helps Identify Key Liquidity Zones – Institutional traders often target session highs/lows for liquidity grabs. This indicator makes these levels visible at a glance.
✅ Adaptable to Different Trading Styles
Day Traders – Can use Asian/London/NY session levels for intraday setups.
Swing Traders – Can focus on weekly and Monday levels for broader trends.
✅ No Repainting – Levels are fixed once formed and do not change retroactively.
✅ Customizable for Personal Preference – Traders can adjust colors, line styles, and visibility to match their trading setup.
✅ Useful for Multiple Markets – Works well on Forex (major pairs), indices, and even crypto (due to 24/7 market structure similarities).
Suggested Use Cases:
Breakout Trading – Watch for price reactions at session highs/lows.
Mean Reversion – Fade moves into weekly or daily extremes.
Institutional Liquidity Analysis – Identify potential stop hunts or accumulation zones.
Conclusion:
This indicator is a powerful tool for traders who rely on session-based liquidity, institutional order flow, and key support/resistance levels. By automating the detection of these zones, it saves time and helps traders make more informed decisions.
Ripster Trend Labels LT INTRODUCTION
Ripster Trend Labels are Extension of Ripster Clouds on Daily & Hourly & Weekly Timeframe for Long Term Analysis for Swing Traders and Investors
Key Components of the Code:
Initialization:
The script starts with the study function, which sets up the overlay on the chart and titles it "Ripster Trend Labels LT".
Users can customize the position of the trend table on the chart via an input option that allows selection among various placements like top_right, top_center, etc.
EMA Calculations:
Daily EMAs: The script calculates two daily EMAs (21-day and 55-day) using the security function to fetch the daily closing prices, ensuring no lookahead bias.
Weekly EMAs: Similarly, it calculates two weekly EMAs (12-week and 50-week) using weekly closing prices.
1-Hour EMA: A 50-period EMA is calculated based on 1-hour closing prices
Trend Label Determination:
For each timeframe (1-hour, daily, and weekly), the script compares the closing prices with their respective EMAs to determine if the trend is bullish or bearish.
Labels like "Bullish" or "Bearish" are dynamically generated based on these comparisons and are updated in real-time as new data becomes available.
Table Creation and Display:
A table is dynamically generated at the user-specified position on the chart.
The table has rows corresponding to each analyzed timeframe, displaying trend labels which are color-coded (green for bullish, red for bearish) to provide visual cues about the market condition.
Explanation of the Clouds & How to Use:
The strategy employs a multi-timeframe analysis using EMA-based "clouds" to evaluate stock trends from short-term fluctuations to long-term movements. This method allows traders to systematically identify potential bullish reversals or signs of a bearish trend weakening, and to make informed decisions based on the overall alignment of these clouds.
Sequence of Cloud Shifts for Trend Analysis:
Ripster 1-Hour Cloud (34/50 1HR): The first indicator to respond, a bullish shift here signals the initial potential for upward momentum. It serves as an early alert for traders to monitor subsequent clouds for confirmation of trend reversal.
MTF1 20/21 Daily Cloud: A bullish turn following the Ripster 1-Hour Cloud strengthens the reversal signal on a daily timeframe. This cloud's shift adds reliability to the initial bullish signal by confirming sustained daily trend strength.
MTF2 50/55 Daily Cloud: Further confirmation comes from this cloud turning bullish, which underscores a robust daily bullish trend. It solidifies the market's bullish sentiment, indicating a sustainable upward trend.
Weekly 5/12 Cloud: This intermediate-term indicator turning bullish consolidates the bullish signals from shorter timeframes, indicating broader market acceptance and strength of the bullish trend.
Weekly 34/50 Cloud: The bullish shift in this cloud confirms a long-term bullish trend. This is a critical confirmation for long-term traders, indicating that the stock might be entering a strong and sustained upward trajectory.
Overall Cloud Alignment and Strategic Implication ns:
All Clouds Are Bullish: When every cloud from the 1-Hour to the Weekly 34/50 is bullish, it signals a strong, unified bullish market sentiment.
Strategy for Bullish Alignment: Traders should view this as an optimal condition for buying dips. The unanimous bullish signal across all timeframes suggests that any pullbacks are temporary, offering buying opportunities.
Using Other Analysis: Enhance this strategy by confirming dips with other bullish indicators like rebounding from key support resistance levels or any other technical analysis
All Clouds Are Bearish: A bearish alignment across all clouds indicates a pervasive downtrend.
Strategy for Bearish Alignment: Traders are advised to avoid long positions and consider risk management strategies, such as tightening stop-losses or taking short positions.
Complementary Analysis: Confirm bearish trends with additional indicators like breakdowns below key support levels etc
Conclusion:
This cloud-based trend analysis provides a structured way to track market dynamics across multiple timeframes, offering clear signals for entry and exit strategies. By observing the sequential shifts in these clouds, traders can align their trading strategies with both short-term and long-term market trends, enhancing their decision-making process. The integration of other technical tools with this cloud-based analysis not only validates the trend signals but also helps in managing trades more effectively, capitalizing on the comprehensive view of market conditions provided by the clouds.
MTF Fibonacci Pivots with Mandelbrot FractalsMTF Fibonacci Pivots with Mandelbrot Fractals: Advanced Market Structure Analysis
Overview
The MTF Fibonacci Pivots with Mandelbrot Fractals indicator represents a significant advancement in technical analysis by combining multi-timeframe Fibonacci pivot levels with sophisticated fractal pattern recognition. This powerful tool identifies key support and resistance zones while predicting potential price reversals with remarkable accuracy.
Key Capabilities
This indicator provides traders with three distinct layers of market structure analysis:
Automatic Timeframe Adaptation: The primary pivot set automatically adjusts to your chart's timeframe, ensuring relevant support and resistance levels for your specific trading horizon.
1-Year Fibonacci Pivots: The second layer displays yearly pivots that reveal long-term market cycles and institutional price levels that often act as significant reversal points.
3-Year Fibonacci Pivots: The third layer unveils major market structure zones that typically remain relevant for extended periods, offering strategic context for position trading and long-term investment decisions.
Predictive Technology
What truly distinguishes this indicator is its advanced predictive capability powered by:
Mandelbrot Fractal Pattern Recognition: The indicator implements a sophisticated fractal detection algorithm that identifies recurring price patterns across multiple timeframes. Unlike conventional fractal indicators, it incorporates noise filtering and adaptive sensitivity to market volatility.
Tesla's 3-6-9 Principle Integration: The system incorporates Nikola Tesla's mathematical principle through a cubic Mandelbrot equation (Z_{n+1} = Z_n^3 + C where Z_0 = 0), creating a unique approach to pattern recognition that aligns with natural market rhythms.
Historical Pattern Matching: When a current price pattern exhibits strong similarity to historical formations, the indicator generates predictive targets with confidence ratings. Each prediction undergoes rigorous validation against multiple parameters including trend alignment, volatility context, and mathematical coherence.
Visual Intelligence System
The indicator's visual presentation enhances trading decision-making through:
Confidence-Based Visualization: Predictions display with intuitive star ratings, percentage confidence scores, and contextual information including price movement magnitude and estimated time to target.
Adaptive Color Harmonization: The color system intelligently adjusts to provide optimal visibility while maintaining a professional appearance suitable for any chart setup.
Trend Alignment Indicators: Each prediction includes references to the broader trend context, helping traders avoid counter-trend trades unless the reversal signal carries exceptional strength.
Strategic Applications
This indicator excels in multiple trading scenarios:
Intraday Trading: Identify high-probability reversal zones with precise timing
Swing Trading: Anticipate significant market turns at key structural levels
Position Trading: Recognize major cycle shifts for strategic entry and exit
The automatic 1-year and 3-year Fibonacci pivots provide institutional-grade reference points that typically define major market movements. These longer timeframes reveal critical zones that might be invisible on shorter-term analysis, giving you a significant edge in understanding where price is likely to encounter substantial buying or selling pressure.
This innovative approach to market analysis combines classical Fibonacci mathematics with cutting-edge fractal theory to create a comprehensive market structure visualization system that illuminates both present support/resistance levels and future price targets with exceptional clarity.
Setting Up MTF Fibonacci Pivots with Mandelbrot Fractals
Initial Setup
Adding this indicator to your TradingView charts is straightforward:
Navigate to the "Indicators" button on your chart toolbar
Search for "MTF Fibonacci Pivots with Mandelbrot Fractals"
Select the indicator to add it to your chart
A configuration panel will appear with various setting categories
Recommended Settings
The indicator comes pre-configured with optimal default settings, but you may want to adjust them based on your trading style:
For Day Trading (Timeframes 1-minute to 1-hour)
Pivots Timeframe 1: Auto (automatically adapts to your chart)
Pivots Timeframe 2: Daily
Pivots Timeframe 3: Weekly
Fractal Sensitivity: 2-3
Fractal Lookback Period: 20
Prediction Strength: 2
Color Theme: High Contrast or Dark Mode
For Swing Trading (Timeframes 4-hour to Daily)
Pivots Timeframe 1: Daily
Pivots Timeframe 2: Weekly
Pivots Timeframe 3: Monthly
Fractal Sensitivity: 1-2
Fractal Lookback Period: 30
Prediction Strength: 2-3
Color Theme: Default or Dimmed
For Position Trading (Timeframes Daily to Weekly)
Pivots Timeframe 1: Weekly
Pivots Timeframe 2: Monthly
Pivots Timeframe 3: Quarterly
Fractal Sensitivity: 1
Fractal Lookback Period: 50
Prediction Strength: 1
Color Theme: Monochrome or Pastel
Restoring Default Settings
If you've adjusted settings and wish to return to the defaults:
Right-click on the indicator name on your chart
Select "Settings" from the context menu
In the settings dialog, look for the "Reset All" button at the bottom
Confirm the reset when prompted
Alternatively, you can remove the indicator and add it again for a fresh start with default settings.
Advanced Settings Guidance
Visual Appearance
Use Gradient Colors: Enable for better visual differentiation between pivot levels
Color Transparency: 15% provides an optimal balance between visibility and chart clutter
Line Width: 1-2 for cleaner charts, 3+ for enhanced visibility
Fractal Analysis
Enable Fractal Analysis: Keep enabled for prediction capabilities
Fractal Box Spacing: Higher values (5-10) for cleaner displays, lower values (1-3) for more signals
Maximum Forecast Bars: 20 is optimal for most timeframes, adjust higher for longer predictions
Performance Considerations
Enable Self-Optimization: Keep enabled to maintain smooth chart performance
Resource Priority: Use "Balanced" for most computers, "Performance" for older systems
Force Pivot Display: Enable only when checking specific historical periods
Common Setup Mistakes to Avoid
Setting all timeframes too close together (e.g., Daily, Daily, Weekly) reduces the multi-timeframe advantage
Using high fractal sensitivity (4+) on noisy markets creates excessive signals
Setting fractal box spacing too low causes cluttered prediction boxes
Disabling self-optimization may cause performance issues on complex charts
Using incompatible color themes for your chart background reduces visibility
The indicator's power comes from its default 1-year and 3-year Fibonacci pivot settings, which highlight institutional levels while the auto-timeframe setting adapts to your trading horizon. These carefully balanced defaults provide an excellent starting point for most traders.
For optimal results, I recommend making minimal adjustments at first, then gradually customizing settings as you become familiar with the indicator's behavior in your specific markets and timeframes.
Screenshots:
RSI & EMA IndicatorMulti-Timeframe EMA & RSI Analysis with Trend Merging Detection
Overview
This script provides traders with a multi-timeframe analysis tool that simplifies trend detection, momentum confirmation, and potential trend shifts. It integrates Exponential Moving Averages (EMAs) and the Relative Strength Index (RSI) across Daily, Weekly, and Monthly timeframes, helping traders assess both long-term and short-term market conditions at a glance.
This script is a simplification and modification of the EMA Cheatsheet by MarketMoves, reducing chart clutter while adding EMA merging detection to highlight potential trend reversals or breakouts.
Originality and Usefulness
Unlike traditional indicators, which focus on a single timeframe, this script combines multiple timeframes in a single view to offer a comprehensive market outlook.
What Makes This Indicator Unique?
This Indicator to Combine RSI and EMA Clouds for Multiple Timeframes
Multi-Timeframe Trend Analysis in One Visual Tool
EMA Merging Detection to Spot Trend Shifts Early
Momentum Validation Using RSI Across Daily, Weekly, and Monthly Timeframes
Reduces Chart Clutter While Providing Actionable Trade Signals
I couldn't find a TradingView indicator that displayed RSI and EMA clouds together across Daily, Weekly, and Monthly timeframes. This tool bridges that gap, allowing traders to see trend strength and momentum shifts across key timeframes without switching charts.
How the Script Works
1. Trend Direction via EMAs
The script tracks Short-term (5 & 12-period), Medium-term (34 & 50-period), and Long-term (72 & 89-period) EMAs across Daily, Weekly, and Monthly timeframes.
Bullish trend: When faster EMAs are above slower EMAs.
Bearish trend: When faster EMAs are below slower EMAs.
A visual table simplifies trend recognition with:
Green cells for bullish alignment.
Red cells for bearish alignment.
This color-coded system allows traders to quickly assess market momentum across different timeframes without excessive manual analysis.
2. Momentum Confirmation with RSI
The RSI(14) values for Daily, Weekly, and Monthly timeframes are displayed alongside the EMAs.
RSI above 70 suggests overbought conditions.
RSI below 30 suggests oversold conditions.
By combining RSI with EMA trends, traders can confirm whether momentum supports the trend direction or if the market is losing strength.
3. Trend Shift Detection (EMA Merging Mechanism)
A unique feature of this script is EMA merging detection, which occurs when:
The short, medium, and long-term EMAs come within 0.5% of the price.
This often signals trend reversals, breakouts, or consolidations.
When this condition is met, a warning signal appears, alerting traders to potential market shifts.
Who This Indicator Is For?
This script is designed for traders who want to track trends across multiple timeframes while keeping a clean and simplified chart.
Swing & Position Traders – Identify strong trends and potential momentum shifts for longer-term trades.
Trend Followers – Stay aligned with major market trends and avoid trading against momentum.
Day Traders – Use the Daily timeframe for entries while referencing higher timeframes for confirmation.
How to Use the Indicator
Add the indicator to any chart.
Check the trend table in the top-right corner:
Green cells indicate a bullish trend.
Red cells indicate a bearish trend.
Look at RSI values to confirm momentum:
RSI above 70 = Overbought.
RSI below 30 = Oversold.
Watch for the "Merge" alert to spot potential reversals or consolidations.
Combine signals from multiple timeframes for stronger trade decisions.
Why This Indicator is Unique on TradingView?
Before this script, no TradingView indicator displayed RSI and EMA clouds together across multiple timeframes (Daily, Weekly, Monthly).
This tool eliminates the need to:
Manually check multiple timeframes for trend alignment.
Add multiple EMA and RSI indicators to the same chart, creating clutter.
Constantly switch between different timeframes to confirm momentum and trend direction.
With this indicator, traders can see trend strength and momentum shifts instantly, improving their decision-making process.
Chart Guidelines
The script is designed for use on a clean chart to maximize clarity.
The trend alignment table is displayed in a non-intrusive manner so traders can focus on price action.
No additional indicators are required, but users may combine this script with volume-based indicators for further confirmation.
The script name and timeframe should always be visible on published charts to help traders understand the analysis.
Final Notes
This script is a simplification and modification of the EMA Cheatsheet by MarketMoves, improving trend detection, momentum confirmation, and EMA merging detection.
It is designed to help traders quickly identify trend direction, confirm momentum, and detect potential trend shifts, reducing the need for excessive manual analysis.
Disclaimer: This indicator is for educational purposes only and does not constitute financial advice. Trading involves risk; always use proper risk management when applying this tool in live markets.
Trading Sessions Highs/Lows | InvrsROBINHOODTrading Sessions Highs/Lows | InvrsROBINHOOD
🚀 A powerful indicator for tracking key trading sessions and the highs and lows of each session!
📌 Description
The Trading Sessions Highs/Lows indicator visually marks the most critical trading sessions—Asia, London, and New York—using small colored dots at the bottom of the candle. It also tracks and plots the highs and lows of each session, along with the Daily Open and Weekly Open levels.
This tool is designed to help traders identify session-based liquidity zones, price reactions, and potential trade setups with minimal chart clutter.
Key Features:
✅ Session markers (Asia, London, NY AM, NY Lunch, NY PM) plotted as small dots
✅ Plots session highs and lows for market structure insights
✅ Daily Open line for intraday reference
✅ Weekly Open line for higher timeframe bias
✅ Alerts for session high/low breaks to capture momentum shifts
✅ User-defined UTC offset for global traders
✅ Customizable session colors for personal preference
📖 How to Use the Indicator
1️⃣ Understanding the Sessions
Asia Session (Yellow Dot) → Marks liquidity buildup & pre-London moves
London Session (Blue Dot) → Strong volatility, breakout opportunities
New York AM Session (Green Dot) → Major trends & institutional participation
New York Lunch (Red Dot) → Low volume, ranging market
New York PM Session (Dark Green Dot) → End-of-day movements & reversals
2️⃣ Session Highs & Lows for Market Structure
Session Highs can act as resistance or breakout points.
Session Lows can act as support or stop-hunt zones.
Break of a session high/low with volume may indicate continuation or reversal.
3️⃣ Using the Daily & Weekly Open
The Daily Open (Black Line) helps gauge the intraday trend.
Above Daily Open → Bearish Bias
Below Daily Open → Bullish Bias
The Weekly Open (Red Line) sets the higher timeframe directional bias.
4️⃣ Alerts for Breakouts
The indicator will trigger alerts when price breaks session highs or lows.
Useful for setting stop-losses, breakout trades, and risk management.
💡 Why This Indicator is Important for Beginners
1️⃣ Avoids Overtrading:
Many beginners trade in low-volume periods (NY Lunch, Asia session) and get stuck in choppy price action.
This indicator highlights when volatility is high so traders focus on better opportunities.
2️⃣ Session-Based Liquidity Traps:
Market makers often run stops at session highs/lows before reversing.
Watching session breaks prevents traders from falling into liquidity grabs.
3️⃣ Reduces Emotional Trading:
If price is above the Daily Open, a beginner shouldn’t look for shorts.
If price is below a key session low, it may signal a fake breakout.
4️⃣ Aligns with Institutional Trading:
Smart money traders use session highs/lows to set stop hunts & reversals.
Beginners can use this indicator to spot these zones before entering trades.
🛡️ How to Mitigate Risk with This Indicator
✅ Wait for Confirmations – Don’t trade blindly at session highs/lows. Look for wicks, rejections, or break/retests.
✅ Use Stop-Loss Above/Below Session Levels – If you’re going long, set SL below a session low. If short, set SL above a session high.
✅ Watch Volume & News Events – Breakouts without strong volume or news may be fake moves.
✅ Combine with Other Strategies – Use price action, trendlines, or EMAs with this indicator for higher probability trades.
✅ Use the Weekly Open for Trend Bias – If price stays below the Weekly Open, avoid bullish setups unless key support holds.
🎯 Who is This Indicator For?
📌 Beginners who need clear session-based trading levels.
📌 Day traders & scalpers looking to refine their intraday setups.
📌 Smart money traders using liquidity concepts.
📌 Swing traders tracking higher timeframe momentum shifts.
🚀 Final Thoughts
This indicator is an essential tool for traders who want to understand market structure, liquidity, and volatility cycles. Whether you’re trading forex, stocks, or crypto, it helps you stay on the right side of the market and avoid unnecessary risks.
🔹 Set it up, customize your colors, define your UTC offset, and start trading smarter today! 🏆📈
Trend Analysis with Volatility and MomentumVolatility and Momentum Trend Analyzer
The Volatility and Momentum Trend Analyzer is a multi-faceted TradingView indicator designed to provide a comprehensive analysis of market trends, volatility, and momentum. It incorporates key features to identify trend direction (uptrend, downtrend, or sideways), visualize weekly support and resistance levels, and offer a detailed assessment of market strength and activity. Below is a breakdown of its functionality:
1. Input Parameters
The indicator provides customizable settings for precision and adaptability:
Volatility Lookback Period: Configurable period (default: 14) for calculating Average True Range (ATR), which measures market volatility.
Momentum Lookback Period: Configurable period (default: 14) for calculating the Rate of Change (ROC), which measures the speed and strength of price movements.
Support/Resistance Lookback Period: Configurable period (default: 7 weeks) to determine critical support and resistance levels based on weekly high and low prices.
2. Volatility Analysis (ATR)
The Average True Range (ATR) is calculated to quantify the market's volatility:
What It Does: ATR measures the average range of price movement over the specified lookback period.
Visualization: Plotted as a purple line in a separate panel below the price chart, with values amplified (multiplied by 10) for better visibility.
3. Momentum Analysis (ROC)
The Rate of Change (ROC) evaluates the momentum of price movements:
What It Does: ROC calculates the percentage change in closing prices over the specified lookback period, indicating the strength and direction of market moves.
Visualization: Plotted as a yellow line in a separate panel below the price chart, with values amplified (multiplied by 10) for better visibility.
4. Trend Detection
The indicator identifies the current market trend based on momentum and the position of the price relative to its moving average:
Uptrend: Occurs when momentum is positive, and the closing price is above the simple moving average (SMA) of the specified lookback period.
Downtrend: Occurs when momentum is negative, and the closing price is below the SMA.
Sideways Trend: Occurs when neither of the above conditions is met.
Visualization: The background of the price chart changes color to reflect the detected trend:
Green: Uptrend.
Red: Downtrend.
Gray: Sideways trend.
5. Weekly Support and Resistance
Critical levels are calculated based on weekly high and low prices:
Support: The lowest price observed over the last specified number of weeks.
Resistance: The highest price observed over the last specified number of weeks.
Visualization:
Blue Line: Indicates the support level.
Orange Line: Indicates the resistance level.
Both lines are displayed on the main price chart, dynamically updating as new data becomes available.
6. Alerts
The indicator provides configurable alerts for trend changes, helping traders stay informed without constant monitoring:
Uptrend Alert: Notifies when the market enters an uptrend.
Downtrend Alert: Notifies when the market enters a downtrend.
Sideways Alert: Notifies when the market moves sideways.
7. Key Use Cases
Trend Following: Identify and follow the dominant trend to capitalize on sustained price movements.
Volatility Assessment: Measure market activity to determine potential breakouts or quiet consolidation phases.
Support and Resistance: Highlight key levels where price is likely to react, assisting in decision-making for entries, exits, or stop-loss placement.
Momentum Tracking: Gauge the strength and speed of price moves to validate trends or anticipate reversals.
8. Visualization Summary
Main Chart:
Background color-coded for trend direction (green, red, gray).
Blue and orange lines for weekly support and resistance.
Lower Panels:
Purple line for volatility (ATR).
Yellow line for momentum (ROC).
Jay Stock Trends
This indicator aids in identifying potential trend starts, continuations and endings by combining moving averages with trend lines.
Its unique trend curves also assist in pinpointing key support and resistance levels for the price.
Multi-timeframe plots provide valuable insights by displaying short-term and long-term trends on the same chart, making it suitable for both intraday and swing trading analysis.
How to read multi-timeframe charts?
The first timeframe, such as daily, is represented by a red EMA8 line (labeled DE) and a corresponding thin trend line (labeled DT). The second timeframe, such as weekly, uses a green EMA8 line (labeled WE) and a medium trend line (labeled WT). The third timeframe, such as monthly, is depicted with a blue EMA8 line (labeled ME) and a thick trend line (labeled MT).
As the timeframe increases, the true range increases and hence trend curve thickness increases.
Trends for lower timeframes are not plotted on daily or higher charts.
How EMA and Trend Line Work Together?
In the BTC daily chart screenshot below, trend initiation is highlighted with a green circle, trend continuation is marked by arrows, and trend completion is indicated with a red circle. A total of six trends are identified on the chart.
When the EMA crosses above the trend line, it signals the start of a trend, while a cross below the trend line marks its end. The period between the trend start and end represents trend continuation.
How Trend Lines Serve as Support or Resistance?
In the BTC daily chart screenshot below, the weekly green trend line serves as support when the price declines toward it, while the red trend line acts as resistance when the price rises from below.
Green circles on the chart highlight instances where the weekly trend provided support, while red circles indicate points where the weekly trend acted as resistance.
How Multi-Timeframe Trends Assist in Stock Analysis?
In the BTC daily chart screenshot below, the monthly trend is rising, and the weekly trend is also moving upward, indicating a favorable outlook for both long-term (monthly) and medium-term (weekly) trends. However, the daily chart suggests a more cautious approach, signaling a period to sit out
Inputs and customization:
This combination of ema and trend plots will be plotted for 4 different time frames all at once. Which 4 timeframes can be chosen in the settings.
How Trend Line and EMA Calculated?
The Trend line is calculated using an arithmetic equation based on the last 8 data points, which are themselves a combination of weighted moving averages of varying lengths. A 14-period true range of the price is calculated and plotted as a buffer zone around the trend lines.
Trend curves appear green when the price is above the trend line and red when it is below. Trend lines are labeled using the timeframe followed by 'T' (e.g., DT, WT, MT).
The EMA represents the weighted moving average of the most recent eight candles and is labeled with the timeframe followed by 'E' (e.g., DE, WE, ME).
Caution: This indicator is for educational or study purposes only, helping traders analyze the movement of both the EMA and trend lines across multiple price swings over an extended period across multi timeframe to gain proficiency at spotting trends.
Multi-Timeframe Candles HistogramsAt some community members' requests, I have built on the original code to make it a single indicator with the option for users to check off which timeframes they want to be shown. Choices are 1-hour, daily, weekly, and monthly.
I couldn't figure out how to separate each timeframe into its own histogram, so this is the best I can offer at the moment. If any community member wants to take a crack at it, be my guest.
Colors are customizable.
If you have a paid TW account, you can lay it down twice and put the hour and daily on one and the weekly and monthly on the other.
That said, I hope you enjoy this version of this indicator.
R.I.P. Rob Smith, creator of TheStrat.
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Key Features and Benefits
1. Custom Timeframe Selection:
- Choose from an array of timeframes ranging from minutes to months, giving you complete flexibility in your market analysis.
- Quickly switch between different timeframes (e.g., 1-hour, daily, or weekly) to track continuity across varying levels.
2. Visual Representation of High/Low Markers:
- Enable or disable the display of high and low points to better understand price ranges and reversals.
- These markers allow you to spot key turning points on different timeframes, facilitating better entry or exit decisions.
3. Enhanced Candle Visualization:
- Displays candles with precise price levels aligned to your chosen timeframe, giving a clearer view of price trends.
- Candles are color-coded to reflect price movement, which is customizable by the user.
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How to Use This Indicator
Monitor Multiple Timeframes Simultaneously:
- Place the indicator on your chart and choose the timeframes you want to follow (e.g., hourly, daily, weekly, monthly).
- For each instance, checkmark the desired timeframes in the menu to ensure that you’re tracking the right period.
Achieve Timeframe Continuity:
- By aligning lower timeframes with higher ones, this tool helps you confirm trends, detect reversals, and avoid trades that go against the broader market movement.
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Why This Indicator is Valuable for Traders
This tool simplifies a core principle of TheStrat—full timeframe continuity—by visually representing price action across multiple timeframes in a clear and actionable way. It removes the guesswork and helps traders stay in sync with market momentum, regardless of the timeframe they are analyzing.
This solution offers flexibility, clarity, and speed, enabling traders to quickly grasp critical movements and improve decision-making. Whether you are a scalper focusing on intraday moves or a swing trader watching weekly trends, this tool empowers you to maintain alignment with the overall market structure.
In essence, it brings the power of TheStrat to your fingertips by offering precise and easy-to-read visual aids, allowing you to seamlessly apply Rob Smith’s philosophy to your trading.
Stage AnalysisStage Analysis was created by Stan Weinstein, and helps traders to identify where a stock/etf/index is in its Price Cycle.
The Price Cycle was introduced by Richard D. Wyckoff in the early 1900s, where he noted that stocks repeatedly go through a cycle of Accumulation, Markup, Distribution and Markdown. Stan Weinstein’s Stage Analysis method modified the Wyckoff Price Cycle, and converted it into four stages, which are:
Stage 1 = Accumulation
Stage 2 = Markup
Stage 3 = Distribution
Stage 4 = Markdown
Stage Analysis indicator:
Stan Weinstein had different definitions for the four stages – Stage 1: The Basing Area, Stage 2: The Advancing Phase, Stage 3: The Top Area, Stage 4: The Declining Phase. But for the purposes of the Stage Analysis indicator, you’ll note that we’ve combined Stage 1 and Stage 3, as they share numerous technical characteristics, and in our opinion, still require some discretionary judgement to determine whether they are showing accumulation or distribution characteristics.
So, we believe that neutral better describes them from a purely technical aspect, as being in Stage 3 doesn’t necessarily mean the top area, as it can still make a Stage 2 continuation breakout to new highs, instead of breaking down into Stage 4. Just as a Stage 1 basing pattern, can still make a further Stage 4 continuation breakdown, and won’t necessarily breakout into a Stage 2 advance. Hence, we display both Stage 1 and Stage 3 as Neutral, to help remove the perceived bias associated with Stage 3 and Stage 1.
So, in the indicator the Stages are displayed as three different colored backgrounds:
Blue = Stage 1 / Stage 3: Neutral
Green = Stage 2: Uptrend
Red = Stage 4: Downtrend
Stage 1 / Stage 3: Neutral (Blue background)
Stage 1 shows signs of a potential accumulation base structure developing and begins with a close above the 30-week simple moving average, when the stock is still below its (usually declining) 40-week MA as well, following a Stage 4 downtrend, and then remains in Stage 1 until either it breaks out into a Stage 2 uptrend, or returns to a Stage 4 downtrend once more. Although, there are often multiple failed breakout and breakdown attempts, which change the Stage briefly to Stage 2 or Stage 4, before reverting back into Stage 1, as the base broadens out.
The initial move into Stage 1 can occur in numerous different ways. Sometimes following a powerful rebound rally from the 52-week lows to above the 30-week MA, and at other times, after a basing period first, while the stock is still in Stage 4, and then only briefly moving into Stage 1, before breaking out into a new Stage 2 uptrend. But with all ways, there is a notable Change of Character compared to the previous Stage 4 downtrend, as supply and demand moves towards equilibrium, and the stock starts to build a more significant sideways range/base structure.
Stage 3 is the exact opposite of Stage 1, and instead of accumulation. Signs of distribution begin to appear when a stock is getting later in a Stage 2 Uptrend, with the stock first closing below its 30-week MA, and then starting to build a more significant sideways range/base structure, than the minor structures that formed when it was still trending higher in Stage 2.
It begins with a change of behaviour (i.e. a bigger correction than seen during the rest of Stage 2, that takes it below its 30-week, but still above its (usually rising) 40-week MA, and then that often broadens out into a sideways structure, with multiple swings above and below the 30-week MA, with tests of the highs and lows of the developing structure. Which can see it briefly revert to Stage 2, with failed breakout attempts at the highs (Upthrusts), or Stage 4, with failed breakdown attempts at the lows of the structure (Shakeouts or Springs).
So, Stage 1 and Stage 3 are both more neutral periods between the Stage 2 (Uptrend) and Stage 4 (Downtrend).
Stage 2: Uptrend (Green Background)
Stage 2 is the most important Stage for traders looking to buy stocks with the Stage Analysis method, and begins with a breakout from the prior Stage 1 base, but can also occur more suddenly from a V-bottom pattern or earnings gaps. In which case, it will move directly from a Stage 4 downtrend into a Stage 2 uptrend.
The move to Stage 2 requires certain technical aspects to be present, including a close above its near-term range (we use a 13-week range based on weekly closes), as well as its 200-day MA (40-week MA), and for our proprietary Stage Analysis Technical Attributes (SATA)* score to be at a least a SATA 6 of 10. And so, the change from Stage 1 to Stage 2 will often occur while the stock is still within a “broader” base structure, as the quarterly range is continually shifting, and doesn’t consider technical levels prior to that period.
The breakout point as Stage 2 begins is the Stage Analysis methods favoured entry zone for investors, as it marks the change from the Stage 1 basing period into the more dynamic Stage 2 uptrend (chart changes to green)
A secondary investor entry point can often form soon after the Stage 2 breakout, as the momentum fades from the initial rally, and it pulls back towards the breakout level, before finding support and swinging back higher into the advancing phase. So, the Stage Analysis indicator can be used to determine this secondary entry point by dropping down to an intraday timeframe – such as the 30-minute chart, and waiting for a Stage 2 breakout attempt on that much shorter timescale.
The Trader method entry points also form during the Stage 2 advance, and occur at the Stage 2 continuation breakout points of the more minor re-accumulation bases that form as the Stage 2 advance progresses higher.
Stage 4: Downtrend (Red Background)
Stage 4 is the opposite of Stage 2, and marks the beginning of a potential downtrend, as the distributional forces from Stage 3 gain control, and the stock attempts to move lower.
Stage 4 is the most important Stage for traders looking to short stocks with the Stage Analysis method, and as with Stage 2, it can also begin more suddenly following a sudden sharp decline or an earnings gap lower etc, that knifes through the key MAs and quarterly range.
The move to Stage 4 also requires certain technical aspects to be present, including a close below its near-term range (we use a 13-week range based on weekly closes), as well as its 200-day MA (40-week MA), and for our proprietary Stage Analysis Technical Attributes (SATA) score to be a maximum of a SATA 3 of 10, as if the SATA score is higher than 3, then it will still be considered as Stage 3 (blue) until that drops to a SATA 3 or lower.
The initial short entry point in Stage 4 occurs at the breakdown from Stage 3 to Stage 4 (chart changes to red), and as with Stage 2, a secondary entry point can form, but in Stage 4 it is on a potential pullback towards the breakdown level that then reverses lower once more. So, the Stage Analysis indicator can be used to determine this secondary entry point by dropping down to an intraday timeframe – such as the 30-minute chart, and waiting for a Stage 4 breakdown attempt on that much shorter timescale.
The Trader method short entry points also form during the Stage 4 decline, and occur at the Stage 4 continuation breakdown points of the more minor re-distribution bases that form as the Stage 4 decline progresses lower.
Recommended Chart Setup:
Weekly
Logarithmic scale
Recommended Indicators:
10 – Simple Moving Average
30 – Simple Moving Average
40 – Simple Moving Average (optional)
Mansfield Relative Strength (Original Version) (optional)
Stage Analysis Technical Attributes (SATA) (optional)
The Stages are intended to be used on the Weekly timeframe with a Logarithmic scale primarily, with a 10-week MA, 30-week MA and 40-week MA. But Stage Analysis can be used across multiple timeframes. So, for shorter-term swing traders, the 195-min (2bars/day), 2-hour, 1-hour, 30-min charts etc are often used with the same relative chart settings. But note that the lower the timeframe, the more noise that you’ll get, so you should always refer back to the weekly Stage to trade with the major trend.
Customise the Stage Analysis indicator
Edit colours of the Stages
Show/Hide Stages
Reference:
*Stage Analysis Technical Attributes (SATA)
The Stage Analysis Technical Attributes (SATA) scoring system is our proprietary tool which measures 10 of the key components that we look for in the Stage Analysis method to help to determine the Stage, and is made up of the following components:
Breakouts and Breakdowns
Price / Moving Averages
Relative Strength versus the S&P 500
Momentum
Volume
Overhead Resistance
Combining the SATA score with the price elements described in the Stages descriptions above, provides a Stage Analysis indicator that is faithful to Stan Weinstein's Stage Analysis method, and truly unique from other more simplistic automated versions of the Stages that you might find elsewhere.
Disclaimer: This indicator is for informational and educational purposes only. We accept no liability for any loss which may arise from the use of this indicator. All trading decisions are your own, and should be researched thoroughly, with appropriate risk management in place.
We are not affiliated with Stan Weinstein, and this is our own unique interpretation of the Stage Analysis method, based on our long experience with it.
Structure Pilot Vision [Wang Indicators]Built and refined with Dave Teaches, the HTF Vision Pro supercharges the trader, providing them with the tools to approach price with a layered analysis.
Providing the trader the instruments to put on the spotlight significant zones to anticipate price deliveries
HTF CANDLE VISION
Displays up to 3 series of HTF Candles
Shows candlesticks from a higher time frame (e.g., daily, 4-hour, weekly) on a lower time frame chart (e.g., 1-hour, 15-minute). This allows traders to simultaneously observe both short-term and long-term market dynamics.
Customizable Time Frames: Users can select any higher time frame to overlay on the current chart. Common time frames include daily, weekly, and monthly candles, but other custom time frames can also be used.
Color Coding: The HTF candles are color-coded for easy differentiation from the lower time frame candles. Users can customize colors to suit their preferences.
Open, High, Low, Close (OHLC) Representation: The indicator displays the full candlestick pattern for the chosen HTF, including the open, high, low, and close values. This helps traders easily identify key price levels and trends.
Settings :
Number of candles
Space between the chart and the HTF candles
Space between candles sets
Size : from Tiny (2x regular candle size) to Large (x8 regular candle size)
Space between candles
Colors of candles, borders and wicks
Incorporating a Higher Time Frame (HTF) candle into your Lower Time Frame (LTF) chart can be immensely beneficial for traders looking to enhance their analysis and decision-making process.
Use Cases for HTF Candles on LTF Charts:
Trend Confirmation:
Use Case: A trader might be looking at a 15-minute chart (LTF) but wants to confirm if the short-term trends align with the daily trend (HTF). Plotting a daily candle on the 15-minute chart helps visualize whether the short-term movements are part of a broader, longer-term trend.
Support and Resistance Identification:
Use Case: By plotting a weekly candle on a daily chart, traders can quickly identify levels that have acted as significant support or resistance in the past on the higher time frame, which might not be as visible or influential on the daily chart alone.
Entry and Exit Points Enhancement:
Use Case: When preparing to enter a trade based on a 1-hour chart, overlaying a 4-hour candle can provide insights into potential reversal points or continuation patterns that are more significant on the higher time frame, thus refining entry and exit strategies.
Volatility and Breakout Analysis:
Use Case: Seeing how a single HTF candle (like a monthly candle on a weekly chart) closes can give traders an idea of the market's volatility or the strength behind breakouts. A long wick on the HTF candle might suggest a rejected breakout or a potential reversal.
Risk Management:
Use Case: Using an HTF candle can help set more informed stop-loss levels. For instance, if a trader uses a 4-hour candle on a 1-hour chart, they might place their stop-loss just beyond the low of the HTF candle, assuming this represents a significant level of support or resistance.
Contextual Trading Decisions:
Use Case: For scalpers or day traders, understanding where the current price action sits within the context of a higher timeframe can lead to better decision-making. For instance, trading within an HTF consolidation range might suggest less aggressive moves, while being near the top or bottom of such a range might indicate potential for larger movements.
Market Sentiment Analysis:
Use Case: The color (red for bearish, green for bullish) and size of the HTF candle can give a quick visual cue of the market sentiment over that period, helping traders assess whether they are going with or against the broader market flow.
Swing Trading:
Use Case: Swing traders might plot a weekly candle on a daily chart to align their trades with the direction of the weekly trend, ensuring they're not fighting the broader market momentum.
Educational and Visual Reference:
Use Case: For educational purposes, having an HTF candle overlay can serve as a visual reminder for students or new traders about how price movements on different time frames can influence each other, aiding in teaching concepts like "the trend is your friend."
Wang use cases :
The way it is intended to be used is as follow
If you trade the 1 min chart and have a set of 5 min HTF candles plotted on your charts it could be used as follow :
As long as the 5 min keep providing close below the last 5 min candle if you're short you're safe ... if the 5 min candle stop closing below the last ones and start giving up-close you should consider closing your trade
Another use of HTF Candle is to find fractals responsible (up or down internal mouv before the breakout that creates a new zone). This fractal acts as supply and demand zone responsible for maintening the trend or for a reversal.
See examples below :
These fractals are interesting zones because they often cause the price to react, so following a flip in the fractal, you can take a short in bearish zones and a long in bullish zones. Fractals are easier to detect thanks to the HTF candles function, and allow you to enter positions with greater confidence. They can be used in the same way as the 70%, 50% and 30% interest zones, or they can be used simultaneously.
Use with zones :
▫️ VERTICAL BARS VISION ▫️
The vertical bars provide a view of market fractality: on a low time frame chart, they show the size of a candle in a higher time frame, and thus give a better understanding of the price fractality essential to the strategy we use.
Example :
For your information, when you modify data in the vertical bars or HTF candles parameters, the two are synchronized automatically.
The Vertical HTF Candle Closures Indicator is a simple yet effective tool that helps traders visually track the closing times of higher time frame (HTF) candles (such as 4H, 1H, 15M) on a lower time frame chart (e.g., 1-minute).
This feature plots vertical lines on the chart at the exact closure time of each selected HTF, allowing traders to quickly recognize key moments when the HTF candles close, or better yet when we trade above / below the last one and reverse ''sweepy sweepy'' .
Its more like a vertical and more micro visualisation than the HTF Candles.
Wang usage :
its a great tool to be able to reverse engineer what's in a HTFcandle precisely its a good combination with HTF candle projections to train the eyes of the traders about Whats is inside a candle that formed on the higher time frame
Limitation & know issues :
The chart may become cluttered with too many lines if multiple time frames are selected. Adjusting the line style or disabling certain time frames can help reduce visual noise.
On low time frame (<30s), some bar may notshow exactly on time (e.g : in 10sec timeframe, the 15min bar can be displayed at 01:15:10 instead of 01:15:00).
Because of the data provider and the interpreter of Trading View, if there is not data for a candle, Trading view just "skip" the candle. Sometime, those skip are on the candle that goes to 15min, 1 hour or 4 hour. As this is a Trading View issue. There is pretty much nothing we can do.
Some users may experience vertical bars at 1am, 5am, 9am ... instead of 0am, 4am, 8am ... That is because of the difference between the Timezone set on the chart and the timezone of the market they trade. Vertical bar will always refer to the symbol displayed
Key Levels Suite - By LeviathanThis is a comprehensive script, designed to display over 100 key price levels across multiple dimensions, including volume profile levels, HTF levels, VWAPs, SMAs/EMAs, market session levels, day of week levels and more. The indicator offers high flexibility in features, settings and visual appearance.
● The script organizes levels into six main categories:
Higher Timeframe (HTF) Levels
- Current and/or previous period: Open, High, Low, and Midpoint for Daily, Weekly, Monthly, Quarterly, and Yearly timeframes (eg. levels for current weekly high/low and previous weekly high/low).
- These levels provide a clear structure for identifying key support and resistance zones. Traders often use HTF levels to anticipate price reactions, such as bounces or rejections, at major highs and lows. For example, a price nearing the weekly high could signal an area of resistance.
VWAP Levels
- Current and/or previous period: VWAP and upper/lower standard deviations for Daily, Weekly, Monthly, Quarterly, and Yearly timeframes (eg. levels for current daily VWAP and previous weekly VWAP).
- VWAP levels give traders insight into whether the current price is above or below the fair market value for a given period. It’s often used as a reference point for trend direction or S/R. If the price remains above VWAP, the trend may be seen as bullish, while breaks below VWAP can suggest a shift toward bearish sentiment. Standard deviations help identify areas where the price may be overextended, offering opportunities for mean reversion trades.
Moving Average Levels
- EMA and SMA for three customizable lengths (eg. levels for 200 EMA, 50 EMA and 100 SMA).
- These levels act as dynamic support and resistance lines that adjust with price movement. Traders use them to confirm trend direction and watch for reactions around these levels, particularly in trending markets. For example, when the price pulls back to a 200 EMA, it could present an opportunity to enter a trade in line with the prevailing trend.
Volume Profile Levels
- Current and previous: Point of Control (POC), Value Area High (VAH), and Value Area Low (VAL) for Daily, Weekly, Monthly, Quarterly, and Yearly timeframes (eg. levels for current day POC and previous day POC).
- Volume Profile levels highlight price areas where significant trading occurred. The POC indicates the price where the most volume was traded and can act as a strong magnet for price. VAH and VAL mark the boundaries of value areas, making them excellent spots for breakout or mean reversion trades. Traders look for price reactions around these zones to either join or fade moves.
Market Session Levels
- Current and previous: Open, high, low, and midpoint for three user-defined sessions, with default being Tokyo, London, and New York (eg. levels for current New York session open and previous New York session high and low).
- Session levels allow traders to track how price behaves across different global market sessions. For instance, the New York open often brings increased liquidity and volatility. Traders often use these levels to anticipate sharp moves or continuations, especially after session highs and lows are broken, signaling shifts in market momentum.
Day of Week Levels
- Open, high, low, and midpoint for Monday through Sunday (eg. levels for Monday's high and low and Tuesday open).
- These levels help traders identify recurring intraday or intraweek price behaviors. For example, highs or lows established earlier in the week can serve as benchmarks for breakouts or retracements later on. Monday’s open or Friday’s high/low often reflect market sentiment going into or out of the weekend, providing valuable clues for planning trades.
● About the script
I published this script because it was heavily requested by my Tradingview followers who wanted a clean and feature-rich indicator that can display various levels they use in their analysis. The indicator can display levels that are not available in other similar public scripts and makes sure to calculate and load calculation-intensive levels (like volume profile levels, higher timeframe vwap levels, etc) as fast and efficiently as possible. It is one of the only scripts I've published that is not open source. The code is protected because it includes some proprietary calculations (eg: for POC/VAH/VAL), that I don't wish to open source, but I still want to publish a heavily requested script in a public and free format.
● How to use the script
1. Add the script to your chart
Start by adding the script to your chart like any other indicator.
2. Open the indicator settings
Click the settings icon to access all customization options.
3. Select which level groups to display
In the "Controls" section, choose which groups of levels (HTF, VWAP, Moving Averages, etc.) you want displayed. This allows you to quickly toggle between different sets of levels depending on your analysis needs, without overcrowding the chart.
4. Adjust group-specific settings
Scroll down to access detailed settings for each group. For any group, you can choose:
- The relevant time parameter (e.g., Daily, Weekly, Monthly, etc for HTF/VWAP/Volume Profile levels, length for Moving Average levels, day for Day of Week Levels, etc).
- Specific levels to display (e.g., Open/High/Low/Midpoint for HTF, VWAP, Day of Week, Session levels and POC/VAH/VAL for Volume Profile levels).
- For applicable groups, you can also toggle previous period levels by selecting them from the row starting with the "↳" icon.
5. Customize visual appearance
In the "Appearance" section, you have full control over how the levels and labels look. You can:
- Choose what details appear in the labels (e.g., level name, price, or percentage distance from current price).
- Pick from different line types, line style (solid, dashed, dotted), adjust line width, and manage the length of the lines using "Offset Right" and "Offset Left" settings.
- Modify font, label size, and color options. If multiple levels overlap at the same price, use the “Merge Levels” option to combine them into one, reducing visual clutter.
6. Customize level names to your preference
In the "Labels" section, you can rename any parameter to match your preferred abbreviations (e.g., change “Weekly Open” to “wO” or any other shorthand that works for you).
● Key Features:
- Display various different important levels, all in one indicator
- Seamless control of which group of levels / specific level to display
- Choose from various line and label styles to display levels.
- Labels can show the level's title (customizable abbreviations), price, and percentage distance from the current price.
- Merge nearby levels to reduce chart clutter, either for identical levels or those within a user-defined percentage range.
- Fully customizable visual appearance of levels to suit individual preferences.
Mongoose multi time frame RSI quick glance w/alertsThis Pine Script helps you identify overbought and oversold conditions for any stock, index, or cryptocurrency you're monitoring, across three different time frames (daily, weekly, and monthly). It uses the Relative Strength Index (RSI) as the indicator for these conditions. Here’s a breakdown of what the script does and what it tells you:
Key Features:
RSI Indicator:
The script calculates the RSI for three different timeframes: daily, weekly, and monthly.
RSI is a momentum oscillator that measures the speed and change of price movements, typically on a scale from 0 to 100:
Overbought: RSI > 70 (This could indicate the asset is overvalued and may see a price correction).
Oversold: RSI < 30 (This could indicate the asset is undervalued and may see a price rebound).
Color-Coded Background:
The script visually highlights overbought and oversold conditions by coloring the chart background:
Blue for Daily overbought/oversold.
Green for Weekly overbought/oversold.
Red for Monthly overbought/oversold.
Overbought areas will have the colored background whenever the RSI is above 70.
Oversold areas will have the colored background when the RSI drops below 30.
Multiple Timeframes:
The script checks these overbought and oversold levels on three timeframes (daily, weekly, and monthly) simultaneously, giving you a broad view of the market’s momentum.
This helps you determine whether a price movement is part of a short-term fluctuation (daily), a mid-term trend (weekly), or a long-term cycle (monthly).
Alerts:
If the RSI crosses the overbought or oversold threshold for any of these timeframes, the script will trigger an alert.
The alert message includes the name of the stock or cryptocurrency and the timeframe in which the condition occurred (e.g., "Daily Overbought").
How to Use This Information:
Trading Decisions: You can use this script to help decide when to enter or exit trades based on whether an asset is overbought or oversold in different timeframes.
Buy Signal: When RSI is oversold (below 30) and you expect a price rebound.
Sell Signal: When RSI is overbought (above 70) and you expect a price correction.
Long-Term vs Short-Term: By analyzing the three timeframes, you can tailor your strategy to short-term trades (daily RSI) or longer-term investments (weekly or monthly RSI).
In essence, this script gives you a multi-timeframe RSI-based view of potential reversal points in the market, visually coded for clarity, and alerts you when those levels are hit across different timeframes.
TechniTrend: Relative Volume IndexRelative Volume Index (RVI)
Short Description:
Relative Volume Index (RVI) with customizable volume bands, moving averages, and alerts for high and low volume thresholds. Includes options for displaying daily and weekly relative volume for enhanced analysis.
Full Description:
The Relative Volume Index is a powerful and versatile tool designed to help traders easily identify volume trends and anomalies in the market. By comparing the current volume to its moving average, this indicator highlights significant increases or decreases in relative volume, allowing traders to catch potential breakouts, breakdowns, or volume spikes early on.
Key Features:
Relative Volume Comparison : Compares the current volume to the moving average volume over a customizable period, highlighting overbought and oversold conditions.
Volume Alerts : Customizable alert thresholds for high and low relative volume to quickly notify traders when volume exceeds predefined limits.
Custom Moving Averages : Choose from various moving average types (SMA, EMA, WMA) to calculate the average volume over a given length.
Volume Normalization : For better readability, volumes greater than 1000 are divided by 1000 and displayed with a 'K' suffix (thousands).
Volume Bands : Configurable high, average, and low volume bands for visual reference.
Daily Relative Volume : Option to display the daily relative volume in comparison to its daily average.
Weekly Average Volume : Option to display the weekly average volume for broader market trends.
Customization Options:
Length : Customize the period for calculating the moving average.
Volume Moving Average : Toggle to show/hide the volume moving average (normalized in 'K').
Alerts : Set thresholds for high and low volume alerts and configure alerts for immediate notification.
Volume Bands : Toggle to show/hide volume bands for easy visual identification of volume zones.
Daily/Weekly Relative Volume : Optional display of relative volume data on a daily and weekly basis.
This indicator provides traders with a more intuitive view of market volume dynamics, making it easier to spot significant volume changes and take action accordingly.
Recommended Settings:
High Volume Alert Threshold: 2.0
Low Volume Alert Threshold: 0.5
Length for Moving Average Calculation: 14
Show Weekly Average Volume: On for broader trend insights
Use this indicator to stay ahead of market moves by monitoring volume trends with precision.
Alerts:
High Volume Alert : Get notified when relative volume exceeds your high threshold.
Low Volume Alert : Get notified when relative volume drops below your low threshold.
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.
The Vet [TFO]In collaboration with @mickey1984 , "The Vet" was created to showcase various statistical measures of price.
The first core measurement utilizes the Defining Range (DR) concept on a weekly basis. For example, we might track the session from 09:30-10:30 on Mondays to get the DR high, DR low, IDR high, and IDR low. The DR high and low are the highest high and lowest low of the session, respectively, whereas the IDR high and low would be the highest candle body level (open or close) and lowest candle body level, respectively, during this window of time.
From this data, we use the IDR range (from IDR high to IDR low) to extrapolate several, custom projections of this range from its high and low so that we can collect data on how often these levels are hit, from the close of one DR session to the open of the next one.
This information is displayed in the Range Projection Table with a few main columns of information:
- The leftmost column indicates each level that is projected from the IDR range, where (+) indicates a projection above the range high, and (-) indicates a projection below the range low
- The "First Touch" column indicates how often price has reached these levels in the past at any point until the next weekly DR session
- The "Other Side Touch" column indicates how often price has reached a given level, then reversed to hit the opposing level of the same magnitude. For example, the above chart shows that if price hit the +1 projection, ~33% of instances also hit the -1 projection before the next weekly DR session. For this reason, the probabilities will be the same for projection levels of the same but opposite magnitude (+1 would be the same as -1, +3 would be the same as -3, etc.)
- The "Next Level Touch" column provides insight into how often price reaches the next greatest projection level. For example, in the above chart, the red box in the projection table is highlighting that once price hits the -2 projection, ~86% of instances reached the -3 projection before the next weekly DR session
- The last columns, "Within ADR" and "Within AWR" show if any of the projection levels are within the current Average Daily Range, or Average Weekly Range, respectively, which can both be enabled from the Average Range section
The next section, Distributions, primarily measures and displays the average price movements from specified intraday time windows. The option to Show Distribution Boxes will overlay a box showing each respective session's average range, while adjusting itself to encapsulate the price action of that session until the average range is met/exceeded. Users can choose to display the range average by Day of Week, or the Total average from all days. Values for average ranges can either be shown as point or percent values. We can also show a table to display this information about price's average ranges for each given session, and show labels displaying the current range vs its average.
The final section, Average Range, simply offers the ability to plot the Average Daily Range (ADR) and Average Weekly Range (AWR) of a specified length. An ADR of 10 for example would take the average of the last 10 days, from high to low, while an AWR of 10 would take the average of the last 10 weeks (if the current chart provides enough data to support this). Similarly, we can also show the Average Range Table to indicate what these ADR/AWR values are, what our current range is and how it compares to those values, as well as some simple statistics on how often these levels are hit. As an example, "Hit +/- ADR: 40%/35%" in this table would indicate that price has hit the upper ADR limit 40% of the time, and the lower limit 35% of the time, for the amount of data available on the current chart.
Grandfather-Father-Son RSI Buy Indicator-only for daily TFGrandfather-Father-Son RSI Buy and Sell Indicator
This script identifies buy and sell opportunities by combining RSI values across multiple timeframes to capture market trends and reversals. The "Grandfather-Father-Son" concept breaks down RSI analysis into three key timeframes:
Grandfather (Monthly): Represents the long-term trend, helping to filter trades that align with the overall market direction.
Father (Weekly): Provides intermediate-term momentum, confirming market conditions before signaling entry or exit points.
Son (Daily): Tracks short-term corrections and movements to pinpoint precise buy and sell opportunities.
Key Features:
Buy Signal: A buy signal is triggered when:
Monthly RSI (Grandfather) and Weekly RSI (Father) are both above 70.
Daily RSI (Son) is between 40 and 45, signaling a potential market pullback before resuming the upward trend.
The indicator checks for alignment across these timeframes to generate a reliable buy signal.
Sell Signal: A sell signal occurs when the Daily RSI (Son) crosses above 70, indicating a potential overbought condition.
Multi-Timeframe Analysis: The script pulls data from higher timeframes (monthly and weekly) to ensure that signals reflect larger market trends rather than short-term fluctuations.
Instructions:
Optimal Timeframe: This script works best on the Daily timeframe, as it uses Monthly and Weekly RSI for trend confirmation. The indicator will display a warning if applied to other timeframes to ensure it is used optimally.
Trend Alignment: The strategy ensures that buy signals are triggered only when there is a strong uptrend in both the Grandfather (Monthly) and Father (Weekly) RSI, while sell signals are based on potential overbought conditions in the Son (Daily) RSI.
Limitations:
Timeframe Dependency: Signals are based on higher timeframe data (Weekly and Monthly), which may only update at the close of those respective time periods. Therefore, it is designed to work in real-time but will be most reliable when trading in alignment with these longer-term trends.
Replay Mode: The script has been optimized to function correctly during live market conditions, with no reliance on future data (no lookahead). This ensures signals appear accurately during both backtesting and live trading.
Disclaimer:
This script is for educational purposes and should be used with caution. Always backtest before using in live trading and adjust parameters to fit your trading strategy and risk management plan.
[DarkTrader] Classic Swipe (DW)Classic Swipe (DW) indicator is a highly customizable tool designed to visualize key price zones and liquidity sweeps on a daily and weekly basis. This script uses advanced plotting features like boxes, labels, and color-coded zones to help traders identify critical market structures such as daily/weekly high-low ranges and bullish or bearish swipes (previous daily high/low levels).
Key Features :
Daily Zone Box: Marks and tracks the high-low range for each trading day. Provides clear visual representation of price action within the daily range.
Weekly Zone Box: Highlights weekly high-low ranges, giving insight into longer-term support and resistance areas.
Bullish and Bearish Daily Swipes: Detects and marks sweeps of previous daily highs (bullish) or lows (bearish) with custom colors and transparency settings.
Customization: Toggle between displaying weekly and daily zones, adjust box colors and transparency, and fine-tune the appearance to match your preferences.
How to Use :
Daily Zone Box: Use this feature to identify key areas of daily price consolidation or breakout, providing intraday support/resistance zones.
Weekly Zone Box: Longer-term traders can leverage the weekly zone box to track broader market trends and prepare for potential swing trade setups.
Daily Swipes: The bullish and bearish swipe detection helps in spotting liquidity grabs or stop hunts, aiding in precise entry/exit decisions based on liquidity pools.
Indicator In Use :
Whether you're a day trader looking for intraday levels or a swing trader focusing on broader trends, this tool can help enhance your analysis by providing clear visual aids for market structure and liquidity events.
EMAs for D W M TimeframesEMAs for D W M Timeframes
Description:
The “EMAs for D W M Timeframes” indicator allows users to set specific Exponential Moving Averages (EMAs) for Daily, Weekly, and Monthly timeframes. The script utilizes these user-defined EMA settings based on the chart’s current timeframe, ensuring that the appropriate EMAs are always displayed.
Please note that for timeframes other than specified, it defaults to daily EMA values.
EMA : The Exponential Moving Average (EMA) is a type of moving average that places greater weight and significance on the most recent data points. This makes the EMA more responsive to recent price changes compared to a simple moving average (SMA), making it a popular tool for identifying trends in financial markets.
Features:
Daily and Default EMAs: Users can specify two EMAs for the Daily timeframe, which also act as the default EMAs for any unspecified timeframe. The default values are set to 10 and 20.
Weekly EMAs: For Weekly charts, the indicator plots two EMAs with default values of 10 and 30. These EMAs help in tracking medium-term trends.
Monthly EMAs: On Monthly charts, the indicator plots EMAs with default values of 5 and 10, providing insights into long-term trends.
Timeframe-Based Display: The indicator automatically uses the EMA settings corresponding to the current chart’s timeframe, whether it is Daily, Weekly, or Monthly.
If the chart is set to any other timeframe, the Daily EMA settings are used by default.
How to Use:
Inputs:
* Daily and Default EMA 1 & 2: Adjust the values for the short-term and long-term EMAs on the Daily chart, which are also used for any other unspecified timeframe.
* Weekly EMA 1 & 2: Set the values for the EMAs that will be shown on Weekly charts.
* Monthly EMA 1 & 2: Specify the values for the EMAs to be displayed on Monthly charts.
Visualization:
* Depending on the current chart timeframe, the script will automatically display the relevant EMAs.
Default Values:
* Daily and Default EMAs: 10 (EMA 1), 20 (EMA 2)
* Weekly EMAs: 10 (EMA 1), 30 (EMA 2)
* Monthly EMAs: 5 (EMA 1), 10 (EMA 2)
This indicator is designed for users who want to monitor EMAs across different timeframes, using specific settings for Daily, Weekly, and Monthly charts.
nPOC Levels by Tyler### Explanation of the Pine Script
This Pine Script identifies and displays weekly naked Points of Control (nPOCs) on a TradingView chart. An nPOC represents a Point of Control (POC) from a previous week that has not been revisited by price action in subsequent weeks. These nPOCs are extended to the right as horizontal lines, indicating potential support or resistance levels.
#### Script Overview
1. **Indicator Declaration:**
```pinescript
//@version=5
indicator("Weekly nPOCs", overlay=true)
```
- The script is defined as a version 5 Pine Script.
- The `indicator` function sets the script's name ("Weekly nPOCs") and specifies that the indicator should be overlaid on the price chart (`overlay=true`).
2. **Function to Calculate POC:**
```pinescript
f_poc(_hl2, _vol) =>
var float vol_profile = na
if (na(vol_profile))
vol_profile := array.new_float(100, 0.0)
_bin_size = (high - low) / 100
for i = 0 to 99
if _hl2 >= low + i * _bin_size and _hl2 < low + (i + 1) * _bin_size
array.set(vol_profile, i, array.get(vol_profile, i) + _vol)
max_volume = array.max(vol_profile)
poc_index = array.indexof(vol_profile, max_volume)
poc_price = low + poc_index * _bin_size + _bin_size / 2
poc_price
```
- The function `f_poc` calculates the Point of Control (POC) for a given period.
- It takes two parameters: `_hl2` (the average of the high and low prices) and `_vol` (volume).
- A volume profile array (`vol_profile`) is initialized to store volume data across different price bins.
- The price range between the high and low is divided into 100 bins (`_bin_size`).
- The function iterates over each bin, accumulating the volumes for prices within each bin.
- The bin with the maximum volume is identified as the POC (`poc_price`).
3. **Variables to Store Weekly Data:**
```pinescript
var float poc = na
var float prev_poc = na
var line poc_lines = na
if na(poc_lines)
poc_lines := array.new_line(0)
```
- `poc` stores the current week's POC.
- `prev_poc` stores the previous week's POC.
- `poc_lines` is an array to store lines representing nPOCs. The array is initialized if it is `na` (not initialized).
4. **Calculate Weekly POC:**
```pinescript
is_new_week = ta.change(time('W')) != 0
if (is_new_week)
prev_poc := poc
poc := f_poc(hl2, volume)
if not na(prev_poc)
line new_poc_line = line.new(x1=bar_index, y1=prev_poc, x2=bar_index + 100, y2=prev_poc, color=color.red, width=2)
label.new(x=bar_index, y=prev_poc, text="nPOC", style=label.style_label_down, color=color.red, textcolor=color.white)
array.push(poc_lines, new_poc_line)
```
- `is_new_week` checks if the current bar is the start of a new week using the `ta.change(time('W'))` function.
- If it's a new week, the previous week's POC is stored in `prev_poc`, and the current week's POC is calculated using `f_poc`.
- If `prev_poc` is not `na`, a new line (`new_poc_line`) representing the nPOC is created, extending it to the right (for 100 bars).
- A label is created at the `prev_poc` level, marking it as "nPOC".
- The new line is added to the `poc_lines` array.
5. **Remove Old Lines:**
```pinescript
if array.size(poc_lines) > 52
line.delete(array.shift(poc_lines))
```
- This section ensures that only the last 52 weeks of nPOCs are kept to avoid cluttering the chart.
- If the `poc_lines` array contains more than 52 lines, the oldest line is deleted using `array.shift`.
6. **Plot the Current Week's POC as a Reference:**
```pinescript
plot(poc, title="Current Weekly POC", color=color.blue, linewidth=2, style=plot.style_line)
```
- The current week's POC is plotted as a blue line on the chart for reference.
#### Summary
This script calculates and identifies weekly Points of Control (POCs) and marks them as nPOCs if they remain untouched by subsequent price action. These nPOCs are displayed as horizontal lines extending to the right, providing traders with potential support or resistance levels. The script also manages the number of lines plotted to maintain a clear and uncluttered chart.
Futures Settlement [NeoButane]Traders use settlement prices as both support/resistance and as a target for price to trend towards. The intention of this script is to provide possible entry and exit levels for swing and scalp trades by drawing horizontal lines of true settlement prices provided by TradingView.
The settlement price, which is calculated daily, is used to determine the profit/loss of a trader's futures position. Prior to the daily close, price settlement of futures contracts is performed by taking the average of its traded price during a specified period of time.
Usage
The settlement prices, shown as horizontal lines, serve as support or resistance for entry or exit. There are hundreds of ways to combine this with favorite indicators, or it can be used as levels for pure price action traders.
See how settlement price levels can be used in confluence with oscillators.
Configuration
Toggles to show each settlement. Reprint shows prior weeks or months after they've ended. Back-adjusted futures, which affect expired futures price history on continuous futures charts, should only be enabled on non-standard charts to match the user's chart settings.
What this script does
This script plots the daily, weekly, and monthly settlements for futures, including an average for the two most recent weekly or monthly settlements. The weekly settlement uses the last day of the week's daily settlement and the monthly settlement uses the last day of the month's daily settlement. For symbols that do not have settlement prices, which will be almost if not all symbols that are not futures, the settlement price instead becomes price at the last second before the daily/weekly/monthly close. In those cases, this script becomes a tool for automatically plotting daily/weekly/monthly closes.
See below for two different bitcoin charts. The chart on top is a non-futures chart and a futures chart is at the bottom. Note that CME bitcoin futures settle 4 hours (1500 CST) before bitcoin's daily close (UTC).
How this script works
TradingView has a built-in ability to display daily settlements instead of the actual daily close. This can be enabled in chart settings for futures on the daily timeframe and there is an argument for Pine Script to do so as well. Because settlement times are different for multiple products during the day, the script uses the settlement price from daily timeframe, which is guaranteed to be correct because TradingView is wonderful. I accidentally found the undocumented backadjustment and settlement_at_close when I was trying to use ticker.inherit() to create a symbol with its daily close time changed to another symbol's, which I still haven't figured out. TradingView has since added documentation for both of them, but there's still an ambiguous 'etc.' in the description of ticker.inherit() so maybe there's more secret arguments...
The script is able to be used on non-standard charts by using ticker.standard(), but back-adjustment will need to be changed by input to match chart settings.
References
Investopedia explanation of settlement price.
www.investopedia.com
Settlement prices for ES.
www.cmegroup.com
CME summary of settlement price.
www.cmegroup.com
How to enable settlement price as close for daily intervals in TradingView. This does not affect the use of this script.
www.tradingview.com
About back-adjustment for continuous futures charts in TradingView.
www.tradingview.com
Important Levels by Sandun Kolambage
### Pine Script Indicator: Important Levels by Sandun Kolambage
#### Description
Introducing our new pivot point and high/low indicator for TradingView! This indicator is designed to help traders identify key levels of support and resistance across different timeframes, from daily to yearly. By analyzing historical data and market trends, our indicator displays the most important pivot points and high/low levels, giving you a better understanding of market dynamics and potential trading opportunities.
Whether you're a day trader, swing trader, or long-term investor, our indicator can help you optimize your trading strategy and achieve your financial goals. Install our indicator on TradingView today and start taking advantage of these important levels!
#### Key Features
- **Daily, Weekly, Monthly, and Yearly Levels:** Automatically plots the open, high, low, and close prices for different timeframes to help traders identify significant levels.
- **Pivot Points:** Calculates and displays pivot points for weekly, monthly, and yearly timeframes, providing additional support and resistance levels.
- **Customizable Line Styles:** Offers options to customize the appearance of the lines (solid, dashed, or dotted) for better visualization.
- **Conditional Coloring:** Uses color coding to highlight the relationship between different timeframe closes, making it easy to spot important levels.
#### How It Works
1. **Daily, Weekly, Monthly, and Yearly Levels:**
- The indicator uses `request.security` to fetch and display open, high, low, and close prices for daily, weekly, monthly, and yearly timeframes.
- Lines are plotted at these key levels with colors indicating their relationship to closes of other timeframes.
2. **Pivot Points:**
- Pivot points are calculated using the formula \((High + Low + Close) / 3\).
- These pivot points are plotted on the chart and labeled clearly to indicate potential support and resistance areas.
3. **Customizable Line Styles:**
- Users can select from solid, dashed, or dotted lines to represent the key levels and pivot points for better clarity and personal preference.
4. **Conditional Coloring:**
- The indicator applies conditional coloring to the lines based on the comparison of current close prices across different timeframes. Yellow indicates lower closes, and red indicates higher closes, making it easy to identify important price levels quickly.
#### Usage Instructions
1. **Enable Key Levels:**
- Toggle the "Daily Weekly Monthly High/Low" option to display or hide the respective levels.
- Select your preferred line style (solid, dashed, dotted) for better visibility.
2. **Display Pivot Points:**
- Toggle the "Pivot" option to show or hide the weekly, monthly, and yearly pivot points on the chart.
3. **Interpret Color Coding:**
- Yellow lines indicate levels where the close price is lower compared to a specific timeframe close.
- Red lines indicate levels where the close price is higher compared to a specific timeframe close.
- Specific colors for yearly levels and pivots are used to distinguish them clearly on the chart.
By following these guidelines, traders can effectively use this indicator to identify critical price levels and make informed trading decisions.
