Session breakThis indicator will show future lines before each session start. It will only show London session and US session start.
You can change the color of the lines and time as per day light savings.
Suporte e Resistência
Liquidity Sweeps [UAlgo]
🔶 Description:
This script, "Liquidity Sweeps by UAlgo" aims to identify and visualize potential liquidity sweeps in the market, assisting traders in spotting significant price levels where liquidity may be targeted by large orders. The script highlights pivot points and draws support and resistance lines based on user-defined parameters. When a liquidity sweep occurs, the script dynamically adjusts the displayed lines and provides annotations, signaling potential buying or selling opportunities.
🔶 Key Features:
Pivot Analysis: Utilizes pivot points to identify potential support and resistance levels.
Liquidity Sweep Detection: Dynamically adjusts support and resistance lines based on price action, highlighting liquidity sweep events.
Buy Side Liquidity Sweep Example :
Sell Side Liquidity Sweep Example :
Liquidity areas waiting to be swept are shown as "pivot high" in red and "pivot low" in green.
Customizable Parameters: Allows users to adjust parameters such as pivot length, maximum lines to draw, colors, and line width to suit their trading preferences.
Real-time Annotations: Provides real-time annotations on the chart when liquidity sweep events are detected, aiding traders in decision-making.
Disclaimer:
This script is provided for educational and informational purposes only. Trading involves risks, and it is essential to conduct thorough research and exercise caution when making financial decisions. The author does not guarantee the accuracy or completeness of the information provided by this script, and any actions taken based on this information are at the user's own risk.
Inversion Fair Value Gaps (IFVG) [LuxAlgo]The Inversion Fair Value Gaps (IFVG) indicator is based on the inversion FVG concept by ICT and provides support and resistance zones based on mitigated Fair Value Gaps (FVGs).
🔶 USAGE
Once mitigation of an FVG occurs, we detect the zone as an "Inverted FVG". This would now be looked upon for potential support or resistance.
Mitigation occurs when the price closes above or below the FVG area in the opposite direction of its bias.
Inverted Bullish FVGs Turn into Potential Zones of Resistance.
Inverted Bearish FVGs Turn into Potential Zones of Support.
After the FVG has been mitigated, returning an inversion FVG, a signal is displayed each time the price retests an IFVG zone and breaks below or above (depending on the direction of the FVG).
Keep in mind how IFVGs are calculated and displayed. Once price mitigates an IFVG, all associated graphical elements such as areas, lines, and signals will be deleted.
This indicator is not meant to be just a 'signal indicator'. Backtesting historical signals is incorrect as it does not consider the mitigation of IFVGs, which is a standard method for trading IFVGs & various concepts by ICT.
The signals displayed are meant for real-time analysis of current bars for discretionary analysis. Current confirmed retests of unmitigated IFVGs are still displayed to show which IFVGS have had significant reactions.
🔶 SETTINGS
Show Last: Specifies the number of most recent FVG Inversions to display in Bullish/Bearish pairs, starting at the current and looking back. Max 100 Pairs.
Signal Preference: Allows the user to choose to send signals based on the (Wicks) or (Close) Prices. This can be changed based on user preference.
ATR Multiplier: Filters FVGs based on ATR Width, The script will only detect Inversions that are greater than the ATR * ATR Width.
🔶 ALERTS
This script includes alert options for all signals.
🔹 Bearish Signal
A bearish signal occurs when the price returns to a bearish inversion zone and rejects to the downside.
🔹 Bullish Signal
A bullish signal occurs when the price returns to a bullish inversion zone and bounces out of the top.
[F][IND] FVG IdentifierMastering Market Imbalances with Ease
The FVG Identifier stands as a groundbreaking TradingView indicator, crafted to illuminate the often-overlooked Fair Value Gaps (FVG) in the dynamic world of price action trading. Let’s dive into how this tool is transforming the approach to identifying market inefficiencies.
Decoding Fair Value Gaps
Central to the concept of FVGs is the identification of market imbalances — moments where the equilibrium between buying and selling pressures is disrupted. These gaps are typically seen in a sequence of three candles, where a dominant candle is surrounded by others whose wicks fail to fully overlap it. These formations are critical as they often influence future price directions, acting as potential magnets.
Simplifying the Detection of FVGs
The FVG Identifier is engineered to enhance the visibility of Fair Value Gaps, making them starkly apparent even in complex market charts. Its algorithms ensure that these vital market indicators are easily and promptly recognized, allowing traders to spot valuable trading opportunities with minimal effort.
Features of the FVG Identifier
1. Intuitive Interface: The indicator is designed for ease of use, accommodating both beginners and experienced traders.
2. Customizable Settings: It offers flexible configuration options, allowing for adaptation to various trading styles and strategies.
3. Strategic Trading Insight: By highlighting FVGs, the tool provides traders with actionable insights for strategic entry and exit points based on potential price movements.
Elevating Your Trading Strategy
Incorporating the FVG Identifier into your trading arsenal equips you with a nuanced perspective on market analysis. It not only assists in identifying significant market imbalances but also enriches your technical analysis with powerful, data-backed insights.
Revolutionizing Price Action Trading
The FVG Identifier transcends the role of a mere indicator; it represents a significant leap in trading methodology. Compatible with various trading platforms, this tool is ready to enhance your market understanding and application of Fair Value Gaps.
Embrace the FVG Identifier to uncover the hidden dynamics of market gaps and translate these insights into efficient and profitable trading strategies.
Disclaimer:
This indicator is provided for educational purposes only. Trading involves risk, and users should consult with a financial professional before making any trading decisions.
Your Feedback Matters!
Please feel free to comment or reach out if you have any improvement suggestions or if you would like to request the development of a specific indicator. Your feedback is invaluable!
Session Levels Predictor [LuxAlgo]The "Session Levels Predictor" indicator predicts the maximum/minimum levels that will be made within a user-specified session. Hit rate percentages are displayed to measure how often a specific level has been hit.
🔶 USAGE
The indicator can be used to estimate the expected maximum/minimum levels within a specified session, these are directly displayed at the start of a session. This operation can be useful to set take profits/stop losses levels when we expect to exit within a specific session.
Users can display up to 3 upper and lower extremities on their chart (by default only 2 upper and lower extremities are displayed), with their distance from the session opening price being determined by the user-set percentile setting, values closer to 100 will return levels farther away from the session opening price.
Predicting maximum/minimum levels effectively allows obtaining support/resistance levels for the user-defined session, with a breakout probability indicating how easy it can be for the price to reach the estimated levels. These levels can be extended outside the specified session, allowing to test their relevancy as support/resistance levels to prices outside the specified sessions.
🔶 DETAILS
To predict maximum/minimum levels made within a session we keep a record of the distance between a session's maximum/minimum value and the session opening price (opening price when the session starts).
By using the percentile_nearest_rank() on our recorded distances we draw levels from the session opening price. If a level is hit between 2 sessions, this is saved for further calculations.
Lastly, a % hit rate of these levels is shown at the sessions open, indicating the probability that these levels could be hit before the next session.
🔹 array.percentile_nearest_rank()
Returns the value for which the specified percentage of array values (percentile) is less than or equal to it, using the nearest-rank method.
For example, taking the 75th percentile from our recorded distances between the maximum session level and session opening price will return a new distance where 75% of the recorded distances are lower.
The same goes for the green session's open - low levels
🔶 SETTINGS
Session: User-defined session interval, uses the symbol timezone.
Percentile (1, 2, 3): K-th percentile used to estimate session max/min levels, higher values will return more distant levels.
Max Population: Maximum amount of recorded distance data for the calculation of percentiles.
🔹 Style
Extend Middle Line: Toggle to extend the blue Middle Line to the next session - Default disabled
Order Blocks Finder [TradingFinder] Major OB | Supply and Demand🔵 Introduction
Drawing all order blocks on the path, especially in range-bound or channeling markets, fills the chart with lines, making it confusing rather than providing the trader with the best entry and exit points.
🔵 Reason for Indicator Creation
For traders familiar with market structure and only need to know the main accumulation points (best entry or exit points), and primary order blocks that act as strong sources of power.
🟣 Important Note
All order blocks, both ascending and descending, are identified and displayed on the chart when the structure of "BOS" or "CHOCH" is broken, which can also be identified with "MSS."
🔵 How to Use
When the indicator is installed, it plots all order blocks (active order blocks) and continues until the price reaches them. This continuation happens in boxes to have a better view in the TradingView chart.
Green Range : Ascending order blocks where we expect a price increase in these areas.
Red Range : Descending order blocks where we expect a price decrease in these areas.
🔵 Settings
Order block refine setting : When Order block refine is off, the supply and demand zones are the entire length of the order block (Low to High) in their standard state and cannot be improved. If you turn on Order block refine, supply and demand zones will improve using the error correction algorithm.
Refine type setting : Improving order blocks using the error correction algorithm can be done in two ways: Defensive and Aggressive. In the Aggressive method, the largest possible range is considered for order blocks.
🟣 Important
The main advantage of the Aggressive method is minimizing the loss of stops, but due to the widening of the supply or demand zone, the reward-to-risk ratio decreases significantly. The Aggressive method is suitable for individuals who take high-risk trades.
In the Defensive method, the range of order blocks is minimized to their standard state. In this case, fewer stops are triggered, and the reward-to-risk ratio is maximized in its optimal state. It is recommended for individuals who trade with low risk.
Show high level setting : If you want to display major high levels, set show high level to Yes.
Show low level setting : If you want to display major low levels, set show low level to Yes.
🔵 How to Use
The general view of this indicator is as follows.
When the price approaches the range, wait for the price reaction to confirm it, such as a pin bar or divergence.
If the price passes with a strong candle (spike), especially after a long-range or at the beginning of sessions, a powerful event is happening, and it is outside the credibility level.
An Example of a Valid Zone
An Example of Breakout and Invalid Zone. (My suggestion is not to use pending orders, especially when the market is highly volatile or before and after news.)
After reaching this zone, expect the price to move by at least the minimum candle that confirmed it or a price ceiling or floor.
🟣 Important : These factors can be more accurately measured with other trend finder indicators provided.
🔵 Auxiliary Tools
There is much talk about not using trend lines, candlesticks, Fibonacci, etc., in the web space. However, our suggestion is to create and use tools that can help you profit from this market.
• Fibonacci Retracement
• Trading Sessions
• Candlesticks
🔵 Advantages
• Plotting main OBs without additional lines;
• Suitable for timeframes M1, M5, M15, H1, and H4;
• Effective in Tokyo, Sydney, and London sessions;
• Plotting the main ceiling and floor to help identify the trend.
Fibonacci Prediction Channel PinescriptlabsThis algorithm is designed to plot a future prediction channel based on Fibonacci retracement levels. Fibonacci lines create a series of parallel channels between each consecutive pair of levels. These channels can be interpreted as ranges in which price fluctuations are expected, generating a visual cone in which the price will interact, and if that level is broken, we move on to the next one, as seen in the following image:
These projected levels into the future also act as support and resistance, creating visual channels on the chart that can help us anticipate and plan actions based on how the price has reacted to these levels in the past.
We can expect the price to react as it approaches these lines, potentially bouncing back within the channel or, if there is enough momentum, breaking through the lines to move towards the next channel.
Now, as a practical example, we observe in the following image every time a level has been broken, and we can confirm a potential entry if the subsequent candle provides confirmation of the movement in the same direction:
The levels projected to the right are not based on new price data but on past price action and extend into the future as a kind of "map" for possible future price reactions.
Fibonacci Length: Determines how many previous price periods will be considered when calculating Fibonacci retracement levels.
Español:
Este alogoritmo está diseñado para trazar un canal de predicción futuro basado en los niveles de retroceso de Fibonacc; Las líneas de Fibonacci crean una serie de canales paralelos entre cada par de niveles consecutivos. Estos canales pueden interpretarse como rangos en los que se espera que el precio fluctúe y nos generan un cono visual en la que el precio interactuará y si dicho nivel es quebrado pasaremos al siguiente como lo vemos en la siguiente imagen:
Estos niveles que proyectamos al hacia el futuro interactuan tambien como soportes y resistencias, creando canales visuales en el gráfico que nos pueden ayudar a anticipar y planificar acciones basadas en cómo el precio ha reaccionado a estos niveles en el pasado.
Podemos esperar que el precio reaccione al acercarse a estas líneas, potencialmente rebotando hacia atrás dentro del canal o, si hay suficiente impulso, rompiendo a través de las líneas para moverse hacia el siguiente canal.
ahora como ejemplo práctivo observamos en la siguiente imagen cada vez que ha ocurrido una rotura de algun nivel y podemos confirmar una probable entrada si la siguiente vela nos da una confirmacion del movimiento en la misa direccion:
Los niveles proyectados hacia la derecha no se basan en nuevos datos de precios sino en la acción del precio pasado y se extienden hacia el futuro como una especie de "mapa" para posibles reacciones futuras del precio.
Fibonacci Length: Determina cuántos períodos de precios anteriores se tendrán en cuenta al calcular los niveles de retroceso de Fibonacci.
Support and Resistance with Signals [UAlgo]🔶 Description:
"Support and Resistance with Signals ", is designed to identify key support and resistance levels on a trading chart while also signaling potential retests (denoted as "R") and breakouts (denoted as "B"). The indicator dynamically plots support and resistance lines based on pivot points and adjusts them according to price action and sensitivity settings. It aims to assist traders in identifying significant price levels and potential reversal or breakout opportunities.
🔶 Key Features:
Pivot Points: The indicator calculates pivot highs and pivot lows based on a specified period length (Checks Left and Right bars). Adjust the length of the pivot period to control the sensitivity of support and resistance levels according to the your preferences.
Support and Resistance Lines: It plots support and resistance lines at the pivot high and pivot low points, respectively.
Retest and Breakout Signals: Signals are generated based on the sensitivity setting, which adds/subtracts a portion (half) of the Average True Range (ATR) to the pivot points. A retest signal ("R") is generated when the price approaches the support or resistance level within the sensitivity range. A breakout signal ("B") is generated when the price surpasses the support or resistance level.
Sensitivity (ATR Length): Modify the retest-breakout sensitivity length to fine-tune the generation of signals based on price volatility.
Maximum Lines : Limit the number of support and resistance lines displayed on the chart for clarity.
Line Colors and Width: Customize the colors and width of support and resistance lines for better visualization.
More Examples:
Before Retest Signal:
When the price enters the retest range at the specified sensitivity:
Disclaimer:
This indicator is provided for informational purposes only and should not be considered as financial advice. Trading involves risk, and users should conduct their own research and analysis before making any investment decisions. The retest and breakout signals generated by this indicator are based on historical price data and may not guarantee future results. Users should exercise caution and use additional confirmation methods before entering any trades based on the signals provided by this indicator.
Happy Trading !
Implied Orderblock Breaker (Zeiierman)█ Overview
The Implied Order Block Breaker (Zeiierman) is a tool designed to identify enhanced order blocks with imbalances. These enhanced order blocks represent areas where there is a rapid price movement. Essentially, this indicator uses order blocks and suggests that a swift price movement away from these levels, breaking the current market structure, could indicate an area that the market has not correctly valued. This technique offers traders a unique method to identify potential market inefficiencies and imbalances, serving as a guide for potential price revisits.
The indicator doesn't scan for imbalances in the traditional sense — where there's an absence of trades between two price levels — but instead, it identifies quick movements away from key levels that suggest where an imbalance might exist. Relying on crossovers and cross-unders in conjunction with pivot points and examining the high/low within the same period provides an innovative method for traders to spot these potentially undervalued or overvalued areas in the market. These inferred imbalances can be crucial for traders looking for price levels where the market might make significant moves.
█ How It Works
Bullish
Crossover: The closing price of a bar crosses above a pivot high, which is an indication that buyers are in control and pushing the price upwards.
New Low Within Period: There is a lower low within the same period as the pivot high. This suggests that after setting a high, the market pulled back to set a new low, potentially leaving a price gap on the way up as the price quickly recovers.
Bearish
Crossunder: The closing price of a bar crosses under a pivot low, indicating that sellers are taking control and driving the price down.
New High Within Period: There is a higher high within the same period as the pivot low. This condition suggests that the market rallied to a new high before falling back below the pivot low, potentially leaving a gap on the way down.
█ How to Use
The enhanced order blocks are often revisited, and the price may aim to 'fill' the potential imbalance created by the rapid price movement, thereby presenting traders with potential entry or exit points. This approach aligns with the idea that imbalances are frequently revisited by the market, and when combined with the context of Order Blocks, it provides even more confluence.
Example
Here, if the price drops rapidly after setting a new high—crossing under the pivot low—it may skip over certain price levels, creating a 'gap' that signifies an area where the price might have been overvalued (imbalance), which the market may revisit for a potential price correction or revaluation.
█ Settings
Period: Determines the number of bars used for identifying pivot highs and lows. A higher value gives more significant but less frequent signals, while a lower value increases sensitivity but might give more false positives.
Pivot Surrounding: Specifies the number of candles to analyze around a pivot point. Increasing this value broadens the analysis range, potentially capturing more setups but possibly including less significant ones.
-----------------
Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
DSKOLI TableThis helps to determine bullish or bearish trend of any chart on any generally available time-frame and good to have for Intraday watch.
Details -
a. Points shown in table shows the difference of last shown price from specified EMAs, this helps to know the price movement of candles are above or below the EMA and its coloured with red and green which even further helps to determine its existing trend.
Note or Disclaimer:
1. This may be considered only for Watching as Learning and informational purpose.
2. Take advice from financial advisor before entering, holding, converting or exiting from any order or trade.
3. Always keep your acceptable stop-loss in all your transactions while trading or investing.
DSKOLI or TradingView reserves all right and don't hold any responsibilities for any loss/losses as well as accuracy of levels or price movement.
ATR Based Support and Resistance Zones [UAlgo]🔶 ATR Based Support and Resistance Indicator 🔶
The ATR Based Support and Resistance Indicator is a technical tool designed for TradingView users to analyze and visualize support and resistance levels based on the Average True Range (ATR) indicator. ATR is a widely used volatility indicator that measures the average trading range of an asset over a specified period. This indicator utilizes ATR values to dynamically calculate and display support and resistance zones on the price chart.
🔶 Indicator Settings
ATR Length: This setting allows users to specify the length of the period over which the ATR indicator is calculated. A longer period results in a smoother ATR value, providing a broader view of market volatility.
ATR Multiplier: The ATR multiplier enables users to adjust the sensitivity of the support and resistance zones. Increasing the multiplier widens the zones, while decreasing it narrows them, allowing traders to customize the indicator according to their trading preferences and market conditions.
🔶 Key Features
Trend Identification: The indicator identifies potential support and resistance zones based on the relationship between the ATR values and the price action. When the current ATR value exceeds a certain threshold determined by the ATR multiplier, it indicates a significant price movement, potentially signaling a trend reversal or continuation.
Impulse Detection: The indicator detects impulses in price movement by comparing the current ATR value with the previous value. An impulse is identified when the current ATR value is greater than or equal to the previous value, indicating a sudden surge in market volatility.
Bearish Impulse Example :
Bullish Impulse Example:
Color-Coded Impulses: Impulse candles are color-coded for easy visualization of bullish (green) and bearish (red) impulses. This feature helps traders quickly identify potential trading opportunities and market trends.
Wick Percentage Calculation: The indicator calculates the percentage of the wick length relative to the true range of each candle. Users can specify a threshold percentage, and when the wick percentage exceeds this threshold, it indicates a potential support or resistance zone.
Support and Resistance Zones: The indicator plots support and resistance zones based on the calculated wick percentage. These zones are visualized as rectangular boxes on the price chart, highlighting areas where price reversals or significant price movements are likely to occur.
Customizable Styling: Users can customize the styling of support and resistance zones, including line style, width, border color, and background color. This flexibility allows traders to adapt the indicator's visual appearance to their personal preferences and trading strategies.
🔶 Usage
Traders can utilize the ATR Based Support and Resistance Indicator in various ways :
Trend Direction Analysis: By observing the color-coded impulse candles, traders can identify the prevailing trend direction (bullish or bearish) based on the frequency and magnitude of impulses.
Entry and Exit Signals: Traders can use the detected support and resistance zones as potential entry and exit points for their trades. When price approaches these zones, it may indicate a trading opportunity or signal the need to adjust stop-loss or take-profit levels.
Confirmation Tool: The indicator serves as a confirmation tool for identifying potential reversal or continuation signals in conjunction with other technical indicators or trading strategies.
Session Sweeps [LuxAlgo]The Session Sweeps indicator combines ICT-based features for a complete trading methodology involving market sessions, market structure, and fair value gaps to find optimal entry conditions for trading price action.
Traders frequently tend to place stop/limit orders at the high and low points of major trading sessions such as Asian (Tokyo), European (London), and North American (New York), resulting in the establishment of liquidity pools at those particular levels. The Session Sweeps indicator is crafted to recognize and underscore occurrences of session sweeps or liquidity sweeps during these major trading sessions.
🔶 USAGE
Default settings utilize major forex trading sessions, yet users can select their preferred opening and closing times, rename the sessions, or adjust the colors. It's important to note that the specified times for each session align with the respective local timezones: Asian (Tokyo) UTC+9, European (London) UTC, and North American (New York) UTC-5.
If the price briefly crosses either the highest or lowest point of a market session. These movements, aiming at triggering stop losses, suggest potential shifts in the market direction. Detecting such movements is the fundamental purpose and core functionality of the script.
🔹Market Structure Shifts
A Market Structure Shift refers to a change in market direction, either from an uptrend to a downtrend or vice versa. A part of a common entry model when using session sweeps is waiting for the formation of a CHoCH after a session sweep.
🔹Fair Value Gaps
A Fair Value Gap (FVG) holds particular appeal for price action traders, emerging when there are inefficiencies or imbalances in the market, often a result of uneven buying and selling activity. The underlying concept of FVGs is that the market tends to revisit these inefficiencies before resuming its trajectory in alignment with the initial impulsive move.
After the formation of a CHoCH traders can enter a position when the price enters the area of a Fair Value Gap (FVG).
🔹Setup Examples
This entry setup is commonly used by ICT traders and is shared for informational & educational purposes only.
Long Positions (5-Minute Timeframe):
Wait for the previous session's low to be swept.
Look for a Bullish Choch.
Find a Bullish FVG formed by or before the Choch.
Entry Point: At the FVG.
Take Profit (TP): At the session high or aim for a 1:2 Risk-Reward Ratio.
Stop Loss (SL): At the session low or nearest Swing Low.
Take partial profits at intermediate swings, but don’t shift SL prematurely.
Short Positions (5-Minute Timeframe):
Wait for the previous session's high to be swept.
Look for a Bearish Choch.
Find a FVG formed by or before the Choch.
Entry Point: At the FVG.
Take Profit (TP): At the previous session's low or aim for a 1:2 RR.
Stop Loss (SL): At the session high or nearest Swing High.
Take partial profits at intermediate swings, but don’t shift SL prematurely.
🔶 SETTINGS
🔹Session Sweeps
Buyside Sweep Zones, Color, and Margin: toggles the visibility of bullside sweep zones, customizes the associated color, and sets the margin value defining the range of a bullside sweep zone.
Sellside Sweep Zones, Color, and Margin: toggles the visibility of sell-side sweep zones, customizes the associated color, and sets the margin value defining the range of a sell-side sweep zone.
Sweep Margin Length: specifies the maximum allowed length of a sweep zone invalidation, the length over which the price slightly invalidated the margin range.
Detect Sweeps Once per Session: if enabled will detect only once a sweep zone within a session.
Hide Fake Sweep Zones, and Color: controls the visibility and color of the fake sweep zones.
🔹Sessions
Session (Asia, London, New York AM, and New York PM), Start Time, and End Time: enables or disables the visibility of the named market session range, and customization of the session hours.
Color: color customization option of the named session.
Extend Max/Min: extends the highest and lowest price levels of the named session until the end of the next enabled session. This option is recommended to be enabled when sweep zone detection is activated to observe the relationship between the sweep zone and previous session extreme levels.
Extend Mid: extends the mean price levels of the named session until the end of the next enabled session. The extended line may serve as potential support and resistance levels.
Fill: enables/disables background coloring of the named session.
New York DST | London DST: enabling this option initiates Daylight Saving Time (DST) for New York or London. Note: Daylight Saving Time is not applied to the Asian (Tokyo) session.
Sessions Extreme Lines | Sessions Names: toggles the visibility of the highest and lowest price levels, as well as the names, for all market sessions.
Session Lines Width: sets the width of the lines for all sessions.
Session Fill Transparency: sets the background color transparency of the range for all sessions.
🔹Market Structure Shifts
Market Structure Shifts: toggles the visibility of market structure shifts, also known as change of character (CHoCH).
Detection Length: specifies the detection length.
Market Structure Shifts; Bull & Bear: color customization options.
🔹Fair Value Gaps
Fair Value Gaps: toggles the visibility of the fair value gaps.
Fair Value Gap Width Filter: specifies the filtering multiplier; additional details can be found in the tooltip of the respective input option.
Bullish & Bearish Imbalance: color customization options.
🔹Sessions Tabular View
Sessions Tabular View: toggles the visibility of the tabular view of the sessions, displaying date &time, status, and countdown counter.
Hide if not Forex Market Instrument: checks the market and automatically enables/disables the option based on the market instrument.
Table Text Size & Position: size and placement customization options
🔶 LIMITATIONS
Please be aware that fair value gap filtering cannot be applied to the initial 144 candles (with a fixed-length ATR) as the ATR value necessary for filtering won't be available during this period.
🔶 RELATED SCRIPTS
Buyside-Sellside-Liquidity
Sessions
Liquidity-Voids-FVG
Thank you to our community for the recommendation of this script. To explore additional conceptual scripts and related content, we invite you to visit >>> LuxAlgo-Scripts .
Malaysian SnR LevelsThis indicator can be used to display support and resistance levels in accordance with Malaysian SnR , in which Support and Resistance are not areas in a chart but clear levels of a line chart. The term line chart refers the current chart in Tradingview as type Line (not Candles) with it's peaks and valleys.
There are 3 different horizontal levels in Malaysian SnR:
A-Level: This level is located at the peak of this line chart. It is named so because this peak has the shape of the letter A.
V-Level: Level at the valley of a line chart, which reminds of the letter V.
The A- and V-Levels are formed for the current chart / timeframe and you can define with the parameter Bars Lookback how many candles will be taken into account for adding the levels.
Gap level: This level is located at the Close/Open gap between two candles of the same color. The period for these levels is also defined by the option Bars Lookback .
The levels are shown as horizontal lines and mark Support when they are below the current price and Resistance when they are above it.
What makes the indicator so special is that conventional support and resistance indicators only use ranges, but Malaysian SnR uses clear and accurate levels at the peaks and valleys (and gaps), which can be of the state Fresh or Unfresh . But what does this state mean and how is it displayed in this indicator?
A level is designated as fresh if it has either not yet been tested, i.e. it has not been touched by a wick. If a level was no longer fresh, it can become fresh again if it is crossed by the body of a candle. If it is then touched by a wick again afterwards, it is considered unfresh (tested) again.
If a level is fresh, the theory of Malaysian SnR assumes that there is a greater probability that the price will react at that level and move in the opposite direction because this fresh Support / Resistance level is more significant than an unfresh level.
The indicator is calculating this state and displays the levels then in a different way. Fresh levels are displayed as solid lines, unfresh levels are displayed as dashed lines. It is also possible to hide unfresh levels, so that only the fresh levels are visible in the chart.
The Fresh -state of a level would be very hard to see without it the indicator:
If the script would just display all the levels that can be found for the Bars Lookback period, the chart woulkd still be full of levels. To filter this and display the most relevant levels, you can use the options Levels above/below price (number of levels) so that only the levels are displayed that are the closest ones to the current price.
Parameters of the indicator
Line Color: Line color of the levels
Line Width: Thickness of the levels
Display gap levels: Should the Gap-Levels be displayed or not
Display fresh levels only: Should unfresh / tested levels be hidden in the chart
Bars Lookback: Number of bars lookback period at which levels will be added to the chart
Levels Above Price: Number of levels that should be displayed above the price. It will be the closest levels to the price that can be found.
Levels Below Price: Number of levels that should be displayed below the price. It will be the closest levels to the price that can be found.
Timeframe Limit: Indicator will only be visible for this timeframe and above.
How to trade with Malaysian SnR levels?
One way to trade with these levels is for instance to wait on a higher timeframe like the Daily til price is reaching a fresh level. At this point a trader could switch to a lower timeframe to check if price is reacting at this level, which is when price is moving into the opposite direction.
So reaching a level of Support and then see price moving to the upside on a lower timeframe can be used as a buy signal - on the other hand if price is reaching a level of Resistance and then moving away from it to the downside on a lower timeframe, this can be used as a sell signal.
Dynamic Support/Resistance Zones [ChartPrime]Dynamic Support/Resistance Zones is a new way to visualize key support and resistance levels by analyzing pivot points. It aggregates these points into bins and uses different scoring methods to determine the strength of the zone. The Linear method treats every pivot the same, Time gives more importance to recent pivots, and Volume scores pivots based on trading activity.
It visually represents the strength of price zones using either a visual distribution or an overlay of colors. Areas with many aggregated pivots are marked using the High Color, indicating strong support or resistance. Fewer pivots are shown in Low Color, suggesting weaker levels. Users can also see the score using the distribution mode to more accurately determine the strength of these areas.
The indicator also includes a special moving average line, calculated from pivot prices and their weights. This gives a central pivot level, allowing you to see the average pivot position. We have also provided some smoothing for this line to make it easer to use.
We have included various options to tailor your analysis. These include selecting the scoring method for pivots and adjusting the number of pivots to consider, along with many visual aids. Traders can also set the level of filtering for the distribution of pivots. By default the filter isn't enabled but when it is enabled it allows for a less noisy experience at the expense of precision.
We have included four pivot periods that you can modify and toggle. The idea is that longer period pivots will enhance the strength of the shorter period ones providing a natural way to weight pivot levels. You can also specify whether you want to use pivot high, pivot low, or both in your analysis.
Here are some details on the key inputs:
Weighting Style: Choose how to score pivot points. Options include: Linear: Treats each pivot equally. Time: Gives more importance to recent pivots. Volume: Scores pivots based on trading volume.
Number of Pivots: Set the number of pivots to consider in the calculation. Both pivot highs and lows are treated separately.
Filtering: Adjust the level of filtering applied to the distribution of pivots. A higher value smooths the distribution, providing a cleaner visual representation at the cost of some precision. This setting is crucial for managing the trade-off between clarity and detail in the visualization of support and resistance zones.
Distribution Scale: Determines the scale of the distribution on the screen. It influences both the visual aspect and the precision of the calculations, allowing for a balance between visibility and analytical accuracy.
Manual Precision: Manually set the number of divisions within the range. This setting offers control over the granularity.
Auto Precision: When enabled, it automatically adjusts the precision based on the average range of a candle, ensuring a minimum level of detail in the visualization.
Show Distribution: Toggle the visibility of the distribution of pivot points. When activated, it provides a detailed visual representation of where pivots are concentrated.
Show Score in Distribution: Opt to display the actual score within the distribution. This feature adds a quantitative element to the visual representation, offering a clearer understanding of the pivot point concentration.
Distribution Overlay: Activate a heat map overlay to visualize the distribution of pivots. You can also adjusting the transparency of this overlay, providing a balanced view that does not obstruct the underlying price chart.
Show Support/Resistance: Enable lines that indicate identified support and resistance levels based on the aggregated pivots. This feature provides a clear, actionable insight directly on the chart.
S/R Zone Visibility: Choose to display the support/resistance zones and set their transparency. It offers an extended visual cue about the potential breadth of support or resistance areas.
Pivot Level Average: Introduce a moving average line that's calculated based on the weighted pivot levels. You can also adjust the smoothness of this line.
Dynamic Support/Resistance Zones is an intuitive and versatile trading indicator that offers a novel approach to identifying support and resistance levels by analyzing pivot points. It blends a variety of scoring methods, customizable visual representations, and a unique moving average line. With its customizable settings for pivot analysis, visual clarity, and precision, it's an nifty tool for traders looking to enhance their decision making with detailed and actionable insights.
Ichimoku Strategy - Easiest Backtest [A.R.]▓ INTRODUCTION
This indicator allows a new "sandbox" approach to the Ichimoku system allowing to combine several entry, confirmation and exit conditions, to add basic risk management, to be able to backtest the performance of the strategy using a table directly on chart, and automate entry and exit signals using alerts.
▓ DEFINITION
The Ichimoku strategy is a trading system based on technical analysis, using a set of graphical indicators to evaluate the trend, strength and support/resistance levels of a financial asset. It integrates components such as the conversion line (Tenkan), the baseline (Kijun), the cloud delimited by the Senkou Span A and the Senkou Span B (SSA - SSB - Kumo) and the lagging span (Chikou) to provide different trading signals.
▓ ADDED VALUE
Several indicators and strategies concerning Ichimoku are already available on Tradingview, we are publishing this indicator to make this strategy even more accessible, what makes it original:
▪️ Unique Settings Windows, easy-to-read. The settings categories are clearly separated. Some parameters are aligned to avoid having an endless list of parameters to modify. This makes the settings window easy to understand and pleasant to use.
▪️ Sandbox type settings, you can choose 1 or 2 Entry conditions, choose to add 1 Confirmation, choose to add between 1 and 3 Exit Conditions. Dozens of possible configurations.
▪️ Possibility of adding basic Risk Management (TP/SL)
▪️ Backtest table directly on chart that allow to get quickly the results (script execution <1 sec) which makes it practical, allowing dozens of different configurations to be tested in a short period of time
▪️ Monitoring historical and current trades on chart thanks to Boxes and Labels
▓ HOW TO USE
You can try the indicator with default settings but you can also modify backtesting settings and trade Entry conditions, Entry Confirmation, and Exit conditions, also you can decide to add a Stop Loss and/or a Take Profit. Then you can find the stats of the backtesting in a table directly in the top right corner of the chart. Finally you can automate the strategy using Alert conditions. You can find all the settings below:
Initial backtesting settings:
🔹Set up Side: Choose Long|Short, Long or Short
🔹Set up Investment: Choose an amount in $, it simulates the equity / funds on the trading account.
🔹Set up Position Size: Choose an amount in $, it simulates the amount of the position size of each trade. If you want to simulate leverage trading, you can put a Position Size superior to Investment. For exemple Investment = 10000 and Position Size = 20000 simulates a x2 leverage.
🔹Set up your Fee rate %: Each trade entry and trade exit, a % of position size will be deducted from the PnL stats. For example if you choose 0.04% with 10000 Position Size, 4$ will be deducted each trade entry and each trade exit = 8$ fees each trade.
🔹Set up the Start and End date: It allows to backtest the strategy over a period of time, for Example from 01-01-2021 to 01-12-2022. By default the end date is year 2050, the backtest will start to take into account data from Start Date to the current time.
Backtest the main Ichimoku sub-strategies choosing entry conditions:
🔸Cloud Breakouts trading: Choose this Entry condition to start a trade when Price crosses the Cloud Upside (Long) or Downside (Short)
🔸Tenkan x Kijun cross trading: Choose this Entry condition to start a trade when Tenkan (Red line) crosses Kijun (Blue line) Upside (Long) or Downside (Short)
* There is no repaint, a signal is validated after the condition is confirmed at the end of the previous candle. If a signal appears on the chart, it won't ever disappear.
Entry Confirmations:
✔️ Chikou Above or Below price: if you check this setting, Long entry signals will be confirmed only when the Chikou (White Line) is Above the current price and Short entry signals will be confirmed only when the Chikou (White Line) is below the current price. In the Ichimoku system the Chikou is often used to confirm all types of signals.
Exit Conditions:
❌ Cloud Reintegrations: When a trade is open (Long or Short), if the price goes back into the cloud the trade is closed
❌ Reverse Cloud Breakouts: When a Long trade is open, if the price breaks out of the cloud from below the trade is closed. When a Short trade is open, if the price breaks out of the cloud from above the trade is closed.
❌ Reverse Tenkan-Kijun Cross: When a Long trade is open, if the Tenkan crosses Downside the Kijun the trade is closed. When a Short trade is open, if the Tenkan crosses Upside the Kijun the trade is closed.
Basic Risk Management:
⛔️ SL: Choose to set up a Stop Loss
✅ 1 single TP: Choose to set up a Take Profit
Signals:
🔔 Entry/Exit Alerts available: 4 types of alert conditions are available ENTRY LONG, ENTRY SHORT, EXIT LONG, EXIT SHORT. The entry conditions trigger at the beginning of the candle, choose alert frequence = once per bar.
👉 Tips: Easier to find profitable configurations in High Timeframe above H4.
▓ BACKTESTING SYSTEM
The Backtesting system integrated into the script tracks each trade. It allows you to test the strategy over a fixed period between a start date and an end date. It also allows to quickly and directly display on the chart the most important data to determine if a configuration is profitable such as the % PnL, the Max Drawdown, the amount of fees, the risk-reward ratio. It has been designed to be easy and quick to use even for a beginner.
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The information published here on TradingView is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors.
Important to note: The source code of this indicator is not accessible because it benefits from the code of our backtesting system present in other non-public indicators that we protect. Our indicators with the same backtesting system are published in separate publications because putting them together in a single script would considerably slow down the execution of the script.
Inversion Fair Value Gaps | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Inversion Fair Value Gaps (IFVG) indicator! Inversion Fair Value Gaps occur when a Fair Value Gap becomes invalidated. They reverse the role of the original Fair Value Gap, making a bullish zone bearish and vice versa. With this indicator, you can now see the volume of the bar that invalidated the FVG, which is also the bar that IFVG occurred. For more information about the process, read the " HOW DOES IT WORK " section of the description.
Features of the IFVG Indicator :
Render Bullish / Bearish IFVG Zones
See The Occurrence Volume Of The IFVG Zones
Combination Of Overlapping FVG Zones
Variety Of Zone Detection / Sensitivity / Filtering / Invalidation Settings
High Customizability
🚩UNIQUENESS
This indicator stands out with its ability to render the occurrence volume of IFVGs. Also the ability to combine overlapping FVG zones will result in cleaner charts for traders. You can customize the FVG Filtering method, FVG & IFVG Zone Invalidation, Detection Sensitivity etc. according to your strategy to get the best performance from the indicator.
📌 HOW DOES IT WORK ?
A Fair Value Gap generally occur when there is an imbalance in the market. They can be detected by specific formations within the chart. An Inversion Fair Value Gap is when a FVG becomes invalidated, thus reversing the direction of the FVG.
⚙️SETTINGS
1. General Configuration
FVG Zone Invalidation -> Select between Wick & Close price for FVG Zone Invalidation.
IFVG Zone Invalidation -> Select between Wick & Close price for IFVG Zone Invalidation.
Zone Filtering -> With "Average Range" selected, algorithm will find FVG zones in comparison with average range of last bars in the chart. With the "Volume Threshold" option, you may select a Volume Threshold % to spot FVGs with a larger total volume than average.
FVG Detection -> With the "Same Type" option, all 3 bars that formed the FVG should be the same type. (Bullish / Bearish). If the "All" option is selected, bar types may vary between Bullish / Bearish.
Detection Sensitivity -> You may select between Low, Normal or High FVG detection sensitivity. This will essentially determine the size of the spotted FVGs, with lower sensitivies resulting in spotting bigger FVGs, and higher sensitivies resulting in spotting all sizes of FVGs.
Show Historic Zones -> If this option is on, the indicator will render invalidated IFVG zones as well as current IFVG zones. For a cleaner look at current IFVG zones which are not invalidated yet, you can turn this option off.
ICT Unicorn Model [LuxAlgo]The ICT Unicorn Model indicator highlights the presence of "unicorn" patterns on the user's chart which is derived from the lectures of "The Inner Circle Trader" (ICT) .
Detected patterns are followed by targets with a distance controlled by the user.
🔶 USAGE
At its core, the ICT Unicorn Model relies on two popular concepts, Fair Value Gaps and Breaker Blocks. This combination highlights a future area of support/resistance.
A Bullish Unicorn Pattern consists out of:
A Lower Low (LL), followed by a Higher High (HH)
A Fair Value Gap (FVG), overlapping the established Breaker Block
A successful re-test of the FVG which confirms the pattern.
A Bearish Unicorn Pattern consists of:
A Higher High (HH), followed by a Lower Low (LL)
A Fair Value Gap (FVG), overlapping the established Breaker Block
A successful re-test of the FVG which confirms the pattern
The pattern detection depends on detected swings, which can be controlled by the Swing setting. Using higher values of this setting will return longer-term breaker blocks.
🔹 Using Risk/Reward Targets
A confirmed Unicorn pattern will show a blue ( Target ) / grey ( Stop Loss) "Risk/Reward" areas (RR).
When the Stop Loss or Target is hit, a white line is shown on the concerned side.
The Risk/Reward ratio can be adjusted in the "Targets" settings.
🔹 Trailing Stop
As seen in the previous snapshots, besides the RR areas, this indicator also includes an optional Trailing Stop .
This can be helpful to lower your risk, by exiting earlier than if you would wait until the Stop Loss is hit.
This example shows a successful bullish and bearish Unicorn Pattern . In this scenario, the Trailing Stop could be used for partial Take Profit.
The goal of this publication is to show confirmed Unicorn Patterns . To increase the chance of success, it is important to evaluate the bigger picture & use this in confluence with your price action analysis. For example, look for potential areas of liquidity, consider this pattern only during certain market sessions, avoid trading during heavy impact news, &/or incorporate other aspects of technical analysis rather than just following this pattern blindly.
🔶 DETAILS
🔹 Combine
When disabled, all potential Unicorn Patterns will delete previous unconfirmed patterns:
Enabling Combine ensures the last Unicorn Patterns in the opposite direction will remain.
While the latter bullish pattern became invalid, another one formed.
The combination of the previous bearish pattern, and looking at the big picture, the bullish pattern did not have much chance to be successful.
While disabling 'combine' helps minimize clutter, enabling this feature can give a pattern more chance to hit the SL/Target level.
🔹 Mitigated FVG
Users can determine if a pattern becomes invalid due to a mitigated FVG, causing the pattern to be deleted.
🔹 New pattern detected
When a new pattern is detected, the previous unconfirmed pattern in the same direction (bullish - bullish or bearish - bearish) will be deleted. This will always be the case, whether "Combine' is enabled or disabled.
When the previous pattern was confirmed but no SL or Target level was hit, this pattern will stop updating.
🔶 SETTINGS
🔹 Unicorn
Swings: This sets the length of swings, used for the underlying ZigZag and Unicorn Patterns detection.
Bull: Enable/disable Bullish patterns, and set the color of FVG box and Trailing Stop .
Bear: Enable/disable Bearish patterns, and set the color of FVG box and Trailing Stop .
Combine: When enabled, patterns in opposite directions (bullish/bearish) can exist at the same time. disabling this feature tends to give less clutter. See the "Usage" section for more information.
🔹 Targets
Risk/Reward: Sets the Risk/Reward ratio.
Trailing Stop: Set the length of small swings, which is used for the Trailing Stop .
IU Support and Resistance How this script works :
1. This script is an indicator script which calculates the support and resistance based on pivot high and pivot low and plot them as zone onto the chart.
2. The first user input is minimum number of touches which indicates how many time pivot high or pivot low should be tested in order to be a valid support or resistance level.
3.The second user input "Set Buffer" check if the user wants to use a custom buffer or not if it's unchanged then the default is 50% of the 1000 period ATR value .
4. If "Set Buffer" is checked meaning if it's set to true then only the third user input will be execute which is the "buffer" which indicates how much price range user wants his zone to have.
5. After the user input part this script create two arrays to store the pivot high and pivot low values every time he have a new value.
6. This script also creates two arrays to store the bar index of the bar where the new pivot high or pivot low is detected those bar index will be later use while creating the support and resistance zones.
7. Then the script creates four more arrays to store the final support and resistance values and their respective bar index which will be use for creating the support and resistance zones.
8. After this the script check that we are at the last bar of our chart if we are then we sort the support and resistance indices by descending order and store them into an new variable after that we sort the support and resistance arrays by descending order, then we loop through the arrays elements and we check if the previous element comes under the zone of the current element if so we increase the "minimum touch" variable by 1, once we have 5 or more count in our variable and we no longer have a valid zone then we store the element value and the sorted index of the element into our final arrays.
9. Finally the script will loop through the final support and resistance arrays and it will create a box for each support and resistance with respect to extending it on both directions.
10.The green zones are the support and the red zones are the resistance.
How user can benifits from this script:
1. User can automatically identify support and resistance zones and he can plan his trade as per that.
2. User can test how different markets reacts with support and resistance zones.
3. User can plan breakout trade on the break of the support or resistance level.
4. User can adjust he stop loss and take profit as per the support and resistance zones.
Multi VWAP [MW]Introduction
The Multi VWAP tool extends the concept of using the Anchored Volume Weighted Average Price, popularized by its founder, Brian Shannon, founder of AlphaTrends, and creates automatic AVWAPS for multiple anchor points, such as for 2-day, 3-day, 4-day, 5-day, and custom date anchors as well as automagically creating month-to-date and year-to-date anchors. Currently, most standard VWAP tools allow users to place custom anchored VWAPs, but the routine of doing this for every equity being watched can become cumbersome. This tool makes that process multi-times easier. Brian Shannon is also the author of “Maximum Trading Gains With Anchored VWAP: The Perfect Combination of Price, Time, and Volume”. Available at Amazon.
Settings
Daily VWAP : A continuous line of the the daily Volume Weighted Average Price (VWAP)
Weekly VWAP : A continuous line of the weekly VWAP
2-Day AVWAP : The anchored VWAP from 2 trading days ago (holidays and weekends are excluded in this calculation)
3-Day AVWAP : The anchored VWAP from 3 trading days ago
4-Day AVWAP : The anchored VWAP from 4 trading days ago
5-Day AVWAP : The anchored VWAP from 5 trading days ago. The slope of this line and the position of the price relative to this line can be used to determine trend direction.
10-Day AVWAP : The anchored VWAP from 10 trading days ago
Month-to-Date AVWAP : The anchored VWAP from the beginning of the current month
Year-to-Date AVWAP : The anchored VWAP from the beginning of the current year
Custom Date AVWAP : Sets a date to begin an anchored VWAP starting from any time.
Use only the most recent VWAP for Week, Month, and Year: Toggles on and off the continuous weekly, monthly, and yearly VWAPs
Calculations
This indicator does not provide buy or sell signals. It is simply the VWAP calculated starting from an “anchor point”, or start time. It is the calculated by the summation of Price x Volume / Volume for the period starting at the anchor point.
How to Interpret
According to Brian Shannon, VWAP is an objective measure of what the average trader has paid for a particular equity over a given period, and is the value that large institutional investors frequently use as a trade signal. Therefore, by definition, when the price is above an AVWAP, buyers are in control for that period of time. Likewise, if the price is below the AVWAP, sellers are in control for that period of time.
Shannon also distinguishes the importance of an increasing or decreasing 5 day VWAP, which reflects the price sentiment, objectively, for roughly the last trading week, or 5 trading days. Pricing below a decreasing 5-day VWAP is considered very bearish, while pricing above an increasing 5-day VWAP is considered bullish and is recommended before considering long positions.
Additionally, a custom VWAP can be generated to coincide with important events, such as FOMC meetings, CPI reports, earnings reports, etc.
Practically speaking, price action can tend to change direction when a significant VWAP is hit, voiding buy and sell signals. Like moving averages, this indicator can show, in real-time, how a buy or sell signal should be interpreted. A significant AVWAP line is a point of interest, and can serve as strong support or resistance, because large institutions may be using those values for entries or exits. For a great analysis of how to use AVWAP, visit the AlphaTrends channel on Youtube here or you can buy Brian Shannon’s “Anchored VWAP” book on Amazon.
Other Usage Notes and Limitations
It's important for traders to be aware of the limitations of any indicator and to use them as part of a broader, well-rounded trading strategy that includes risk management, fundamental analysis, and other tools that can help with reducing false signals, determining trend direction, and providing additional confirmation for a trade decision. Diversifying strategies and not relying solely on one type of indicator or analysis can help mitigate some of these risks.
Additionally, the indicator may take a little longer to load than usual. On the rare occasion where it fails to load, you may need to remove the indicator and add it back to your chart. Also, if you do encounter this problem, avoid redrawing your chart while the indicator is being added to the screen.
Acknowledgements
This script uses the MarketHolidays library by @Protervus. Also, for debugging, the JavaScript-style Debug Console by @algotraderdev and the TimeFormattingLibrary by @twingall were invaluable. And, of course, without Brian Shannon's books, videos, and interviews, this indicator would would not be possible.
RMB - High and LowDescription:
Introducing the "RMB - High and Low" indicator, a versatile and powerful tool designed for traders who seek a comprehensive view of the market across multiple time frames. This indicator is tailored to identify and display key support and resistance levels, adapting to your chosen time frame - from as short as 15 minutes to as long as a week.
Key Features:
Multi-Time Frame Flexibility : Easily switch between 15 minutes, 30 minutes, 1 hour, 2 hours, 4 hours, daily, and weekly time frames to align with your trading strategy and market analysis.
Dynamic Support and Resistance Levels : The indicator plots the highest high (resistance) and the lowest low (support) for the selected time frame, providing real-time insights into market behavior and potential pivot points.
Time Frame-Specific Labels : Each resistance and support line is labeled with the corresponding time frame, offering a clear and immediate reference, enhancing your chart analysis and decision-making process.
User-Friendly Interface : A simple and intuitive input interface allows for quick adjustments, making it easy to toggle between different time frames based on your trading needs.
Visual Clarity : Designed with distinct color coding - green for resistance and red for support - ensuring that key levels are easily identifiable at a glance.
Ideal Use Cases:
Day Trading: Utilize shorter time frames to capture quick market movements and identify intraday pivot points.
Swing Trading: Leverage longer time frames to understand broader market trends and establish entry and exit points.
Diverse Strategies: Whether you're scalping, trend following, or employing mean reversion tactics, adapt the indicator to fit your unique approach.
Conclusion:
The "RMB - High and Low" indicator is a must-have tool for traders who demand flexibility and precision in their technical analysis. By offering insights across various time frames, this indicator empowers you to make well-informed decisions, adapt to market changes swiftly, and enhance your trading performance.
Key Levels | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Key Levels indicator! This indicator allows you to see the key levels on the current chart such as previous day lows / highs, pre-market data, yesterday's close, today's open, pivot points, and much more! It's highly user-friendly with every line being individually customizable and having a wide range of text options.
Features of the new Key Levels indicator :
Today & Yesterday High, Low, Open & Close
Previous 3-10th Day Highs & Lows
Pre-Market Highs & Lows
Previous Month High & Low
High & Low Pivots
Combination Of Same Levels
Wide Customization Options
📌 HOW DOES IT WORK ?
Key levels are important areas in a chart where a significant reaction is expected. In this indicator, you can enable up to the previous 10 days highs and lows, yesterday's close / today's open, and the latest pivot points. Key levels generally act like support & resistance. Here are a few examples :
As shown, key levels play an important role determining the current trend and can be useful in identifying potential levels where the market will reverse or breakout.
🚩UNIQUENESS
1. More Key Levels
We believe that past key levels may be as important as current ones. Some of the key-levels indicators do not include them even though strong reactions can happen around them. Thus, our indicator let's you check up to 10 days backwards.
You can select the ones you think that are the most important and just enable them, making the indicator customizable to your liking.
2. Pre-Market Data
With assets that have pre-market data available, it's crucial to analyze it to have a better understanding of the market in regular trading hours. Our indicator will plot pre-market highs and lows, even if your chart is in the regular trading hours only mode. We believe this will be helpful with your analyzing process.
3. Combination
The indicator can dynamically combine same key levels, so you can have a clear look to the chart without lines & text colliding with each other. This would also help you determine stronger key levels as if a key level occured more than a time, it could be a sign that it's a stronger one. An example :
To summarize, using key levels is an essential skill while detecting zones where strong reactions are expected. This indicator provides up to 10 day's high and low levels, and all of them can be individually turned on / off. Traders that believe older key levels can be important and want to look at the whole picture may use this feature. Also for assets that have pre-market data available, the indicator provides pre-market levels as well. Besides all that, High & Low pivots will provide latest key levels so traders can use them in their decisions.
⚙️SETTINGS
1. General Configuration
You can enable / disable :
1. Today's High / Low / Open
2. Yesterday's High / Low / Close
3. 3th-10th Day High / Low
4. Pre-Market High / Low
5. Previous Month High / Low
You can also change the colors and switch their line styles between solid, dashed and dotted.
2. High & Low Pivots
Enabled -> Enable / Disable High & Low Pivots
Pivot Range -> The range used in the detection of pivot points. Larger values will result in less pivot points, while smaller values will provide more pivot points. This essentially determines how many bars to the right & left shouldn't exceed the pivot's high or low.
You can also change the text color and text size of the pivots from the settings.
3. Style settings
Text Offset -> How many bars of offset should the texts have to the right. Increase if text collides with bars while Align Labels option is set to "Right".
Extend Lines -> If enabled, lines will be extended infinitely to right & left. If disabled, all lines will be clamped in their timelines.
Show Line Values -> If enabled, line information text will contain their price.
Align Labels ->
Right = Align line labels to right.
Center = Line labels will always be at the center of the screen.
IMGPro - V1.0IMG PRO uses nine sequential stages to analyse price action and alert users to potential Trade Setups using various Price Action Concepts as detailed below:
1. Identify Higher Timeframe Market Structure and Points of Interest (HTF-POIs)
2. Calculate position size based on your risk appetite, fees and account leverage and customisable maximum trade risk
3. Verify price is in a premium or discount
4. Determine Lower Timeframe Market Structure Break Type
5. Apply Early Warning Systems if enabled
6. Alert you to risk managed trade setups at enabled HTF-POIs
7. Alert you to unentered trade invalidations
8. Alert you to trade exits based on your set criteria
9. Provide Additional Alerts such as Higher Timeframe SFPs and Market Structure Breaks that act as potential early warnings that a trade setup may be forming
1. HTF POIs Available with IMG PRO:
a. HTF Market Structure Range Highs and Lows
b. HTF Order Blocks
c. HTF Order Blocks & FVG Overlaps
d. HTF Breakers
e. HTF Breakers & FVG Overlaps
f. HTF FVGs
g. Internal Liquidity Levels
These levels are used for Trade Signals based on user settings applied. Details provided in the trade setup section below
a. Higher Timeframe Market Structure Range High and Low through Multiple Timeframe Analysis:
Market Structure can be defined using several techniques. The IMG indicators employ the Close through High/Low technique, which necessitates a candle to close through a structural level to validate a structural break and designate a new range.
Example: H12 Market Structure visualisation on a H12 Chart with annotations:
By selecting a particular Market Structure timeframe in the settings, the indicator immediately illustrates both current and historical market structures for the chosen timeframe across all subordinate timeframes, subject to the limitations of your Tradingview subscription.
Example: H12 Market Structure visualisation on a H1 Chart with annotations:
b. Higher Timeframe Order Blocks
An Order Block represents the last candle of the opposite direction preceding a Market Structure Break. For instance, a bullish Order Block is identified as the final bearish candle leading to a bullish market structure break, and vice versa for bearish Order Blocks.
Example: H12 OB visualisation on a H12 Chart with annotations:
When activated, the indicator will highlight the Higher Timeframe Order Blocks responsible for a Market Structure Break on all subordinate timeframes relative to the chosen Market Structure Timeframe.
Note: if multiple OBs exist, the indicator will display the OB closest to the new range extreme
Example: H12 OB visualisation on a H1 Chart with annotations:
c. HTF Order Blocks & HTF FVG Overlaps
When enabled, the IMG Pro will only display overlaps of Order Blocks and FVGs. These are strong points of interest to look for trade setups
Example of the indicator displaying a Higher Timeframe’s (HTF) OBs + FVGs on a Lower Timeframe (LTF) chart:
The upper chart labelled H12/H12 is the indicator displaying H12 Structure and OB+FVGs on a H12 chart.
The lower chart labelled H12/H1 is the indicator displaying H12 OB+FVGs on a H1 chart:
d. Higher Timeframe Breakers
A Breaker Block is identified as the most recent Order Block that has been breached by price, leading to an opposite Market Structure Break. For example, a bullish Breaker Block is the last bearish Order Block that price has passed through, confirming a bullish structural break, and the inverse is true for bearish Breakers.
Example: H12 Breaker visualisation on a H12 Chart with annotations:
Once enabled, the system will display Higher Timeframe Breaker Blocks after an opposite Market Structure Break is confirmed on all subordinate timeframes.
Example: H12 Breaker visualisation on a H1 Chart with annotations:
e. HTF Breakers & HTF FVG Overlaps
When enabled, the IMG Pro will only display overlaps of Breakers and FVGs. These are strong points of interest to look for trade setups
Example:
The upper chart labelled H12/H12 is the indicator displaying H12 Structure and Breakers+FVGs on a H12 chart
The lower chart labelled H12/H1 is the indicator displaying H12 Breakers+FVGs on a H1 chart
f. Higher Timeframe Fair Value Gaps (FVGs)
A Fair Value Gap is a concept used by price action traders to identify market inefficiencies, where buying and selling are not balanced. It appears on a chart as a triple-candle pattern, with a large candle flanked by two others whose highs and lows do not overlap with the large candle, creating a gap. This gap often attracts the price towards it before the market resumes its previous direction.
Example of the indicator displaying a Higher Timeframe’s FVGs on a Lower Timeframe (LTF) chart:
-The upper chart labelled H12/H12 is the indicator displaying H12 Structure and FVGs on a H12 chart.
-The lower chart labelled H12/H1 is the indicator displaying H12 FVGs on a H1 chart
g. HTF Internal Liquidity Levels (FVGs)
A HTF Liquidity Level is a Higher Timeframe three bar Pivot that forms inside an active range.
When enabled, the system will display all UNTESTED HTF pivots formed within an active range. Lines will stop extending once they are either tested or HTF Market Structure Breaks
Example: H12 Liquidity Levels on a H1 Chart:
2. Risk Management and Position Sizing:
a. Automated Position Sizing:
The System will automatically calculate position size based on the account size, max leverage and risk appetite (capital risk per trade) details input in settings. Calculated trade details are included in the Tradingview Alerts as well as interactive labels on the charts.
Details include but are not limited to:
Trade Timeframe
Side: Long/Short
Type: Limit/Market
Position Size in $ and Units
Lot sizes if applicable
Trade Risk %
Take Profit Level
Entry Price
Stoploss Price
b. Maximum Trade Risk:
IMG PRO has the ability to invalidate potential trade entries if it exceeds your maximum Trade Risk threshold. Trade Risk is the % price difference between entry and stoploss.
When an invalid signal is generated, the signal will not be shaded and the interactive label will display the reason for invalidation
In the example below, Max Trade Risk is set to 2% , but the trade signal had a trade risk of 5.11% invalidating the signal with a grey triangle
3. Verify Premium / Discount:
The system can be setup to only display signals that are in the top or bottom n% of the Market Structure Range
A value of 0 (default) will disable the premium/discount system and utilize the entire range for all signal types (bullish and bearish)
EXAMPLES:
A value of 50% will only display bullish signals that have, at minimum, tagged the bottom half of the range and vice versa for bearish signals.
A value of 25% will only display bullish signals that have tagged the bottom quarter of the range and vice versa.
A value of 38.2% will display signals that tag the top and bottom 38.2% of the range (equivalent of the 61.8% OTE. retracement) Etc.
4. Determine Lower Timeframe Market Structure Break Type
IMG Pro has two options for Lower Timeframe Structure Breaks:
Market Structure Breaks: When selected, the system will use the first opposite pivot (in the current chart timeframe) to the left of a confirmed SFP to calculate a break in market structure when price closes through it:
Market Structure Shifts: When selected, the system will use the first opposite pivot (in the current chart timeframe) to the left OR right of a confirmed SFP to calculate a break in market structure when price closes through it. MSS’ are more sensitive and may provide more false signals but are useful when there are big spike liquidity runs:
5. Apply Early Warning Systems if enabled:
The IMG Pro indicator has an early warning system that will generate a potential setup alert before a HTF SFP is confirmed
There are two types of early warnings:
LTF Structure Break Early Warning:
If enabled, the system will generate a potential setup alert if price cuts through a HTF level (Range Extreme / Internal Liquidity) and prints an opposite LTF MSB back through that level. This is a more aggressive approach where the system does not wait for the HTF SFP to be confirmed.
Example: In the screenshot below, the system did not wait for a H12 SFP to be confirmed, allowing it to signal an entry that would have otherwise been missed if the LTF Structure Break early warning system was not enabled
LTF FVG Early Warning:
If enabled, the system will generate a potential setup alert if price cuts through a HTF level (Range Extreme / Internal Liquidity) and prints an opposite LTF FVG back through that level. No LTF MSB is required and a limit order at the FVG is signalled. This is a more aggressive approach where the system does not wait for the HTF SFP to be confirmed.
Example: In the screenshot below, the system did not wait for a H12 SFP to be confirmed, signalling an entry as soon as an opposite LTF FVG is confirmed pushing price back through the HTF Liquidity Levels
6. Trade Setup Types Available with IMG PRO:
The system will alert you to potential trade setups at these HTF POIs: .
a. Higher Timeframe (HTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at Range Extremes
b. Higher Timeframe (HTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at enabled HTF POIs
c. Higher Timeframe (HTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at All Internal Liquidity Levels (With Trend and Counter Trend)
d. Higher Timeframe (HTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at All Internal Liquidity Levels (With Trend ONLY)
e. Lower Timeframe (LTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at enabled HTF POIs
f. Multiple LTF Entry Options once a signal is confirmed
a. HTF Swing Failure followed by a LTF MSB at Range Extremes
A Swing Failure Pattern (SFP) is a technical analysis concept used in trading to identify potential reversals in price trends. It occurs when the price attempts to surpass a previous high or low but fails to sustain that level, indicating a possible change in market direction. There are multiple methods to define a SFP but this indicator uses the failure to close through a Key Level. When confirmed, HTF SFPs will be displayed on-screen and an alert will fire if enabled.
Example: EURUSD H12 Trade Setup Alerts at Range Extremes on a H1 Chart:
Alerts to Enter at Lower Timeframe MSBs
When enabled, a potential trade setup label and alert will generate when a HTF SFP is confirmed at a Range Extreme followed by a Chart Timeframe (Lower Timeframe) Market Structure Break (MSB). These signals are agnostic to current Market Structure bias and will generate at both extremes.
b. HTF Swing Failure followed by a LTF MSB at HTF POIs:
When enabled, a trade setup label and alert will generate when a HTF SFP is confirmed at an enabled Higher Timeframe POI (Order Blocks / Breakers / FVGs) followed by a Chart Timeframe (Lower Timeframe) Market Structure Break (MSB). These signals are always in line current Market Structure bias.
Example: H12 SFPs and Trade Setups at HTF POIs with Fluid Exits on a H1 Chart:
c. HTF Swing Failure followed by a LTF MSB at All Internal Liquidity Levels ( With Trend and Counter Trend ):
When enabled, a trade setup label and alert will generate when a HTF SFP is confirmed at an Internal Liquidity Level followed by a LTF Market Structure Break (MSB) or Market Structure Shift(MSS). These signals are agnostic to HTF Market Structure bias and will alert to setups with and counter trend.
Example:
d. HTF Swing Failure followed by a LTF MSB at All Internal Liquidity Levels ( With Trend ONLY )
Same as (c), but will only signal trades that are in line with higher timeframe structure. I.e If HTF Structure is bullish, then only bullish trades will be signalled.
e. LTF Swing Failure followed by a LTF MSB at enabled HTF POIs
The system will alert you to a lower timeframe setup if these conditions are met inside enabled HTF POIs (OBs / Breakers / FVGs):
- LTF SFP
- LTF MSB
Example:
f. LTF Entry Options:
IMG PRO provides the following options for LTF Entries:
i. Limit Entry at MSB Level
ii. Limit Entry at Breaker
iii. Limit Entry at Raid Candle
iv. Limit Entry at OTE 70.5% Retracement
v. Market Entries (where applicable)
Trade entry alerts will detail limit entry prices based on the option selected here.
7. Unentered Trade Invalidations:
IMG Pro can invalidate unentered signals based on these custom criteria:
a. Opposite HTF SFP Before Entry
b. TP Hit Before Entry
c. Confirmed Opposite Signal Before Entry
If enabled and criteria met, the system will alert you to cancel any limit orders for the trade that is being invalidated.
8. Trade Exit Types Available with IMG PRO:
The system provides the following options for trade exit alerts:
a. Exit at Fixed R:R
b. Exit at a confirmed Opposite Signal (Fluid Exits)
c. Exit at enabled and untested HTF POIs
d. Exit on an opposite HTF SFP at a liquidity level
Example: H12 SFPs and Potential Trade Setups at Internal Liquidity Levels with Exit at closest untested HTF POI on a H1 Chart:
9. IMG PRO Alerts Overview
The system provides notifications of:
a. Confirmed HTF Market Structure Breaks
b. Confirmed HTF SFPs at Range Extremes
c. Confirmed HTF SFPs at HTF POIs
d. Confirmed HTF SFPs at Liquidity Levels
e. Potential Trade Setups at Range Extremes
f. Potential Trade Setups at HTF Points of Interest
g. Potential Trade Setups at HTF Liquidity Levels
h. LTF SFPs inside HTF POIs
i. Potential LTF Setups at HTF POIs
j. All Exit Types including Stoplosses
k. All Trade Invalidations
To enable alerts, right-click on the indicator and select “Add Alert on IMG ...”. You may customise the alert name as desired and then click 'Create' to finalise the alert setup.
General Note:
There is no system, indicator, algorithm, or strategy that can provide absolute certainty in predicting market movements. Use trading indicators as a tool to assist with trading decisions; manage your risk wisely.
Stay safe and Happy Trading!
IMGCore - V1.0IMG Core uses five sequential stages to analyse price action and alert users to potential Trade Setups using various Price Action Concepts as detailed below:
1. Identify Higher Timeframe Market Structure and Points of Interest (HTF-POIs)
2. Calculate position size based on your risk appetite, fees and account leverage and customisable maximum trade risk
3. Alert you to risk managed trade setups at enabled HTF-POIs
4. Alert you to trade exits based on your set criteria
5. Provide Additional Alerts such as Higher Timeframe SFPs and Market Structure Breaks that act as potential early warnings that a trade setup may be forming
1. HTF POIs Available with IMG CORE:
a. HTF Market Structure Range Highs and Lows
b. HTF Order Blocks
c. HTF Breakers
d. HTF FVGs
a. Higher Timeframe Market Structure Range High and Low through Multiple Timeframe Analysis:
Market Structure can be defined using several techniques. The IMG indicators employ the Close through High/Low technique, which necessitates a candle to close through a structural level to validate a structural break and designate a new range.
Example: H12 Market Structure visualisation on a H12 Chart with annotations:
By selecting a particular Market Structure timeframe in the settings, the indicator immediately illustrates both current and historical market structures for the chosen timeframe across all subordinate timeframes, subject to the limitations of your Tradingview subscription.
Example: H12 Market Structure visualisation on a H1 Chart with annotations:
b. Higher Timeframe Order Blocks
An Order Block represents the last candle of the opposite direction preceding a Market Structure Break. For instance, a bullish Order Block is identified as the final bearish candle leading to a bullish market structure break, and vice versa for bearish Order Blocks.
Example: H12 OB visualisation on a H12 Chart with annotations:
When activated, the indicator will highlight the Higher Timeframe Order Blocks responsible for a Market Structure Break on all subordinate timeframes relative to the chosen Market Structure Timeframe.
Note: if multiple OBs exist, the indicator will display the OB closest to the new range extreme
Example: H12 OB visualisation on a H1 Chart with annotations:
c. Higher Timeframe Breakers
A Breaker Block is identified as the most recent Order Block that has been breached by price, leading to an opposite Market Structure Break. For example, a bullish Breaker Block is the last bearish Order Block that price has passed through, confirming a bullish structural break, and the inverse is true for bearish Breakers.
Example: H12 Breaker visualisation on a H12 Chart with annotations:
Once enabled, the system will display Higher Timeframe Breaker Blocks after an opposite Market Structure Break is confirmed on all subordinate timeframes.
Example: H12 Breaker visualisation on a H1 Chart with annotations:
d. Higher Timeframe Fair Value Gaps (FVGs)
A Fair Value Gap is a concept used by price action traders to identify market inefficiencies, where buying and selling are not balanced. It appears on a chart as a triple-candle pattern, with a large candle flanked by two others whose highs and lows do not overlap with the large candle, creating a gap. This gap often attracts the price towards it before the market resumes its previous direction.
Example of the indicator displaying a Higher Timeframe’s FVGs on a Lower Timeframe (LTF) chart:
-The upper chart labelled H12/H12 is the indicator displaying H12 Structure and FVGs on a H12 chart.
-The lower chart labelled H12/H1 is the indicator displaying H12 FVGs on a H1 chart
2. Risk Management and Position Sizing:
a. Automated Position Sizing:
The System will automatically calculate position size based on the account size, max leverage and risk appetite (capital risk per trade) details input in settings. Calculated trade details are included in the Tradingview Alerts as well as interactive labels on the charts.
Details include but are not limited to:
Trade Timeframe
Side: Long/Short
Type: Limit/Market
Position Size in $ and Units
Lot sizes if applicable
Trade Risk %
Take Profit Level
Entry Price
Stoploss Price
b. Maximum Trade Risk:
IMG Core has the ability to invalidate potential trade entries if it exceeds your maximum Trade Risk threshold. Trade Risk is the % price difference between entry and stoploss.
When an invalid signal is generated, the signal will not be shaded and the interactive label will display the reason for invalidation
In the example below, Max Trade Risk is set to 2% , but the trade signal had a trade risk of 5.11% , invalidating the signal with a grey triangle
3. Trade Setup Types Available with IMG CORE:
The system will alert you to potential trade setups at these HTF POIs: .
a. Higher Timeframe (HTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at Range Extremes
b. Higher Timeframe (HTF) Swing Failure followed by a Higher Timeframe (HTF) MSB at enabled HTF POIs
c. Lower Timeframe (LTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at enabled HTF POIs
d. Multiple LTF Entry Options once a signal is confirmed
a. HTF Swing Failure followed by a Lower Timeframe (LTF) MSB at Range Extremes
A Swing Failure Pattern (SFP) is a technical analysis concept used in trading to identify potential reversals in price trends. It occurs when the price attempts to surpass a previous high or low but fails to sustain that level, indicating a possible change in market direction. There are multiple methods to define a SFP but this indicator uses the failure to close through a Key Level. When confirmed, HTF SFPs will be displayed on-screen and an alert will fire if enabled.
Example: H12 SFPs at Range Extremes on a H1 Chart:
Alerts to Enter at Lower Timeframe MSBs
When enabled, a potential trade setup label and alert will generate when a HTF SFP is confirmed at a Range Extreme followed by a Chart Timeframe (Lower Timeframe) Market Structure Break (MSB). These signals are agnostic to current Market Structure bias and will generate at both extremes.
b. HTF Swing Failure followed by a Lower Timeframe (LTF) MSB at HTF POIs:
When enabled, a potential trade setup label and alert will generate when a HTF SFP is confirmed at an enabled Higher Timeframe POI (Order Blocks / Breakers / FVGs) followed by a Chart Timeframe (Lower Timeframe) Market Structure Break (MSB). These signals are always in line current Market Structure bias.
Example: H12 SFPs and Trade Setups at HTF POIs with Fluid Exits on a H1 Chart:
c. LTF Swing Failure followed by a LTF MSB at Range Extremes at enabled HTF POIs
The system will alert you to a lower timeframe setup if these conditions are met inside enabled HTF POIs (OBs / Breakers / FVGs):
- LTF SFP
- LTF MSB
Signals will alert you to enter a Limit Entry at the LTF MSB Level OR LTF Breaker
Example:
d. LTF Entry Options:
IMG CORE provides the following options for LTF Entries:
i. Limit Entry at Lower Timeframe MSB Levels
ii. Limit Entry at Lower Timeframe Breakers
Based on this selection, the trade setup alert will provide entry price details to set limit orders at the MSB level or LTF Breaker High.
4. Trade Exit Types Available with IMG CORE:
The system provides the following options for trade exit alerts:
i. User defined Risk to Reward (R:R)
ii. On a confirmed Opposite Signal (Fluid Exits)
Example: H12 Long Entry and Exit Signal using Fluid Exits H1 Chart:
5. IMG CORE Alerts Overview
The system provides notifications of:
1. Confirmed HTF Market Structure Breaks
2. Confirmed HTF SFPs at Range Extremes
3. Confirmed HTF SFPs at HTF POIs
4. Potential Trade Setups at Range Extremes
5. Potential Trade Setups at HTF Points of Interest (HTF-LTF and LTF-LTF)
6. Fixed R Trade Exits
7. Exit on Opposing Signals (Fluid Exits)
To enable alerts, right-click on the indicator and select “Add Alert on IMG ...”. You may customise the alert name as desired and then click 'Create' to finalise the alert setup.
General Note:
There is no system, indicator, algorithm, or strategy that can provide absolute certainty in predicting market movements. Use trading indicators as a tool to assist with trading decisions; manage your risk wisely.
Stay safe and Happy Trading!
IMGLite - V1.0IMG indicators use five sequential stages to analyse price and alert users to potential Trade Setups using various Price Action Concepts as detailed below:
a. Identify Higher Timeframe Market Structure and Points of Interest (HTF-POIs)
b. Calculate position size based on your risk appetite, fees and account leverage
c. Alert you to risk managed trade setups at enabled HTF-POIs
d. Alert you to trade exits based on your set criteria
e. Provide Additional Alerts such as Higher Timeframe SFPs and Market Structure Breaks that act as potential early warnings that a trade setup may be forming
a. HTF POIs Available with IMG LITE:
1. HTF Market Structure Range Highs and Lows
2. HTF Order Blocks
3. HTF Breakers
4. HTF FVGs
1. Higher Timeframe Market Structure Range High and Low through Multiple Timeframe Analysis:
Market Structure can be defined using several techniques. The IMG indicators employ the Close through High/Low technique, which necessitates a candle to close through a structural level to validate a structural break and designate a new range.
Example: H12 Market Structure visualisation on a H12 Chart with annotations:
By selecting a particular Market Structure timeframe in the settings, the indicator immediately illustrates both current and historical market structures for the chosen timeframe across all subordinate timeframes, subject to the limitations of your Tradingview subscription.
Example: H12 Market Structure visualisation on a H1 Chart with annotations:
2. Higher Timeframe Order Blocks
An Order Block represents the last candle of the opposite direction preceding a Market Structure Break. For instance, a bullish Order Block is identified as the final bearish candle leading to a bullish market structure break, and vice versa for bearish Order Blocks.
Example: H12 OB visualisation on a H12 Chart with annotations:
When activated, the indicator will highlight the Higher Timeframe Order Blocks responsible for a Market Structure Break on all subordinate timeframes relative to the chosen Market Structure Timeframe.
Note: if multiple OBs exist, the indicator will display the OB closest to the new range extreme
Example: H12 OB visualisation on a H1 Chart with annotations:
Higher Timeframe Breakers
A Breaker Block is identified as the most recent Order Block that has been breached by price, leading to an opposite Market Structure Break. For example, a bullish Breaker Block is the last bearish Order Block that price has passed through, confirming a bullish structural break, and the inverse is true for bearish Breakers.
Example: H12 Breaker visualisation on a H12 Chart with annotations:
Once enabled, the system will display Higher Timeframe Breaker Blocks after an opposite Market Structure Break is confirmed on all subordinate timeframes.
Example: H12 Breaker visualisation on a H1 Chart with annotations:
Higher Timeframe Fair Value Gaps (FVGs)
A Fair Value Gap is a concept used by price action traders to identify market inefficiencies, where buying and selling are not balanced. It appears on a chart as a triple-candle pattern, with a large candle flanked by two others whose highs and lows do not overlap with the large candle, creating a gap. This gap often attracts the price towards it before the market resumes its previous direction.
Example of the indicator displaying a Higher Timeframe’s FVGs on a Lower Timeframe (LTF) chart:
-The upper chart labelled H12/H12 is the indicator displaying H12 Structure and FVGs on a H12 chart.
-The lower chart labelled H12/H1 is the indicator displaying H12 FVGs on a H1 chart
b. Risk Management and Position Sizing:
The System will automatically calculate position size based on the account size, max leverage and risk appetite details input in settings. Calculated trade details are included in the Tradingview Alerts as well as interactive labels on the charts.
Details include but are not limited to:
Trade Timeframe
Side: Long/Short
Type: Limit/Market
Position Size in $ and Units
Lot sizes if applicable
Trade Risk %
Take Profit Level
Entry Price
Stoploss Price
c. Trade Setup Types Available with IMG LITE:
The system will alert you to potential trade setups at these HTF POIs: .
1. Higher Timeframe (HTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at Range Extremes
2. Lower Timeframe (LTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at enabled HTF POIs
1. HTF Swing Failure followed by a Lower Timeframe (LTF) MSB at Range Extremes
A Swing Failure Pattern (SFP) is a technical analysis concept used in trading to identify potential reversals in price trends. It occurs when the price attempts to surpass a previous high or low but fails to sustain that level, indicating a possible change in market direction. There are multiple methods to define a SFP but this indicator uses the failure to close through a Key Level. When confirmed, HTF SFPs will be displayed on-screen and an alert will fire if enabled.
Example: H12 SFPs at Range Extremes on a H1 Chart:
Alerts to Enter at Lower Timeframe MSBs
When enabled, a potential trade setup label and alert will generate when a HTF SFP is confirmed at a Range Extreme followed by a Chart Timeframe (Lower Timeframe) Market Structure Break (MSB). These signals are agnostic to current Market Structure bias and will generate at both extremes.
Signals will alert you to enter a Limit Entry at the Lower Timeframe MSB Level
2. LTF Swing Failure followed by a LTF MSB at Range Extremes at enabled HTF POIs
The system will alert you to a lower timeframe setup if these conditions are met inside enabled HTF POIs (OBs / Breakers / FVGs):
- LTF SFP
- LTF MSB
Signals will alert you to enter a Limit Entry at the Lower Timeframe MSB Level
Example:
d. Trade Exit Types Available with IMG Lite:
Exit alerts will trigger at user defined R:R
Example: H12 SFPs and Potential Trade Setups with Exits at fixed 2R on a H1 Chart:
e. IMG LITE Alerts Overview
Higher Timeframe Market Structure Breaks (HTF MSBs)
The system provides notifications of confirmed Market Structure Breaks based on the selected Higher Timeframe Market Structure Timeframe. For instance, selecting a weekly structure will trigger an alert when weekly price closes through a weekly structural level, and the same logic applies to other timeframes like D, H12, H4, H1 etc.
The system provides notifications of:
1. Confirmed HTF Market Structure Breaks
2. Confirmed HTF SFPs at Range Extremes
3. Potential Trade Setups (defined above)
4. Fixed R Trade Exits
To enable alerts, right-click on the indicator and select “Add Alert on IMG ...”. You may customise the alert name as desired and then click 'Create' to finalise the alert setup.
General Note:
There is no system, indicator, algorithm, or strategy that can provide absolute certainty in predicting market movements. Use trading indicators as a tool to assist with trading decisions; manage your risk wisely.
Stay safe and Happy Trading!
