[TehThomas] - HTF Power of 3

7 Feb

The "HTF Power of 3" script is a custom indicator for TradingView that helps traders visualize higher time frame (HTF) price action within lower time frame charts. It overlays HTF candlestick representations on the chart, providing a clear view of market structure and trends. The script also includes countdown timers for HTF candle closes, helping traders anticipate key moments in price movement.

How the Script Works

Timeframe Selection:

• The user selects a higher timeframe (HTF) from 1-hour, 4-hour, or daily options.
  
• The script then calculates and overlays HTF candles on a lower timeframe chart.
  

Customizable Candle Display:

• The script draws custom HTF candles using input colors and styles.
  
• It includes options for body color, wick color, border color, and size.
  

Projection Features:

• Displays open, high, low, and close (OHLC) levels of the HTF candles.
  
• Projection lines help traders identify key levels and potential price reactions.
  

Countdown Timer:

• Displays a real-time countdown until the current HTF candle closes.
  
• Helps traders prepare for breakout opportunities and volatility shifts.
  

Automatic Timeframe Calculation:

• The script dynamically adjusts HTF calculations based on the selected timeframe.
  
• Ensures accurate and responsive updates to market movements.
  

Why This Script is Useful

• Better Market Structure Analysis: Traders can clearly see HTF candles within their lower timeframe chart, allowing for a more structured trading approach.
  
• Confluence Trading: Identifying key HTF levels on lower timeframes helps with decision-making for entries and exits.
  
• Precise Timing with Countdown: Knowing when an HTF candle will close gives traders an edge in anticipating breakouts, reversals, or liquidity grabs.
  
• Enhanced Visualization: Instead of manually switching between timeframes, traders can observe HTF structures seamlessly within their current chart.
  

How to Use the Script

Apply the Indicator:

• Add the script to a TradingView chart from the Pine Script editor.
  
• Select the desired higher timeframe (1H, 4H, or 1D).
  

Customize Appearance:

• Adjust colors, line styles, and size preferences under the settings panel.
  

Utilize Projections and Timers:

• Monitor the projected high, low, and open levels for key decision points.
  
• Use the countdown timer to anticipate the HTF candle close.
  

Trade with the Power of 3 Strategy:

• Identify key liquidity areas and time-based setups using the HTF data.
  

PO3 10 AM Strategy
The Power of 3 (PO3) Strategy revolves around three key phases: Accumulation, Manipulation, and Expansion. The 10 AM strategy specifically looks at how price behaves around the first hour of the New York trading session.

• Accumulation: The market establishes a range between 9:30 AM and 10:00 AM EST.
  
• Manipulation: A liquidity grab occurs, typically causing a false breakout to one side of the range.
  
• Expansion: Price moves in the intended direction, leading to a significant trend for the session.
  

How to Use the Script for PO3 10 AM Strategy:

• Use the HTF candles to spot areas of liquidity from previous sessions.
  
• Wait for price to manipulate one side of the 9:30-10:00 AM range.
  
• Enter a trade in the direction of expansion after confirmation of the move.
  
• Utilize the countdown timer to anticipate HTF candle closures and confluence with PO3 setups.
  

By combining HTF structure with the PO3 concept, traders can enhance their entries, reduce false breakouts, and capitalize on institutional price movements.

This script serves as a powerful tool for traders seeking to align their strategies with higher timeframe movements while maintaining precise execution on lower timeframes.

10 Feb

Catatan Rilis

Update log:
Added the option to offset the candle so its not in the way of your drawings.
Added timestamp of chosen candle underneath the timer.

12 Feb

Catatan Rilis

The method for selecting the candle duration has been changed; it now adjusts automatically.

18 Feb

Catatan Rilis

Added:
6h, 1W and 1M timeframe
timer offsets
timer size

Bugs
This is a temporary fix for the timer being displayed inside the candle. Still working on a better version but this should help for now.

18 Feb

Catatan Rilis

Update log:
A full rework of the script so everything just works better :)
------------
- Changed the way how the timer works.
- Moved some settings around.
- Added more timeframes.
- Fixed all bugs the previous version had.