Candlestick Pattern Detector - Vijay PrasadOverview:
This Pine Script v6 indicator is designed to detect and label key candlestick patterns on TradingView charts. It provides real-time visual markers for major bullish and bearish reversal signals, aiding traders in decision-making.
Usefulness:
✅ Saves time by automating candlestick pattern detection.
✅ Reduces manual chart analysis errors.
✅ Works across all markets & timeframes.
✅ Enhances trading strategies with accurate signals.
Candlestick Patterns Recognises:
Bullish Engulfing – A strong bullish reversal pattern.
Bearish Engulfing – Indicates a potential downtrend.
Hammer – Suggests a market bottom or reversal.
Shooting Star – A bearish reversal signal at the top of an uptrend.
Doji – Signals market indecision and possible trend change.
Key Functions:
Automated Pattern Visible
Identifies candlestick patterns dynamically and plots them on the chart.
Visual Labels for Patterns
Labels to indicate specific candlestick formations.
Labels appear only when a valid pattern is detected, avoiding unnecessary clutter.
Buy/Sell Signal
Plots buy signals at bullish patterns and sell signals at bearish patterns.
Helps traders recognize trend reversals and entry/exit points.
Bullish Engulfing Pattern (Green Label)
What it means: A bullish engulfing pattern typically signals a potential reversal from a downtrend to an uptrend. The current candle fully engulfs the previous candle, signaling strong buying interest.
Identifying Candlestick Patterns on the Chart
How to use it:
Entry: Look for a green label (bullish engulfing) at the bottom of the chart. When it appears, consider entering a long position (buy).
Confirmation: To increase reliability, wait for confirmation by observing if price moves above the high of the bullish engulfing candle.
Exit: Exit when the trend shows signs of reversing or take profit at predefined levels (e.g., resistance or a risk-to-reward ratio).
Bearish Engulfing Pattern (Red Label)
What it means: A bearish engulfing pattern is a signal of a potential reversal from an uptrend to a downtrend. The current candle fully engulfs the previous candle, signaling strong selling pressure.
How to use it:
Entry: Look for a red label (bearish engulfing) at the top of the chart. When it appears, consider entering a short position (sell).
Confirmation: Wait for the price to move below the low of the bearish engulfing candle to confirm the bearish trend.
Exit: Close the trade when the price reaches support levels or the trend shows signs of reversing.
Doji Pattern (Blue Circle)
What it means: A Doji candle signals market indecision. It represents a balance between buyers and sellers, often marking a potential reversal or consolidation point.
How to use it:
Entry: If the Doji appears after a strong trend (bullish or bearish), wait for the next candle to break above or below the Doji's high or low. This can signal a continuation or reversal.
Confirmation: You can look for additional indicators like moving averages, RSI, or MACD for confirmation before taking any action.
Exit: Exit when the price shows clear momentum in your entry direction.
Hammer Pattern (Orange Triangle)
What it means: The hammer pattern is a bullish reversal pattern that appears after a downtrend. It suggests that sellers pushed the price down during the session, but buyers managed to push the price back up.
How to use it:
Entry: When a hammer appears, consider entering a long position (buy). The price should move above the hammer's high for confirmation.
Confirmation: Look for strong volume and a follow-up bullish candle to confirm the reversal.
Exit: Set a target based on the next resistance level, or use a trailing stop to lock in profits.
Using Candlestick Patterns with Other Indicators
To increase your chances of success, combine candlestick patterns with other technical indicators.
Here are some ideas:
RSI (Relative Strength Index): Use RSI to check whether the market is overbought or oversold. A bullish engulfing in an oversold market could indicate a stronger buy signal, and a bearish engulfing in an overbought market could indicate a stronger sell signal.
Moving Averages (e.g., 50 EMA, 200 EMA): Confirm trend direction. If the candlestick pattern aligns with the direction of the moving averages, it can give a stronger signal.
MACD (Moving Average Convergence Divergence): Use MACD to confirm momentum and potential trend changes. If a candlestick pattern aligns with a MACD crossover, it strengthens the signal.
Volume: Look for higher-than-average volume when a pattern appears. This can give you additional confirmation that the market is reacting strongly.
Practice and Refine
It's important to practice using the candlestick patterns in a demo account or backtest them to see how they perform under different market conditions. Over time, you can adjust the settings and patterns to fit your trading style and preferences.
Candlestick analysis
Candle Riders CR1Overview
The **Candle Riders CR1** is an advanced trading tool designed to help traders anticipate potential market movements. It calculates three key levels – **Cpoint**, **Rpoint**, and **CRgap** – based on the high, low, and close values of the last 3 candles. These levels offer insights into possible price trends, reversals, and risk-to-reward scenarios, helping traders make more informed decisions.
This indicator is unique because it projects levels for the **next candle**, allowing traders to prepare for potential price movements rather than reacting to completed candles.
Key Features
1. **Cpoint**
- Indicates a potential price level for the next candle.
- If a **green signal** appears on the current candle, the upcoming candle might show an upward movement, with a tendency to reach the Cpoint.
- If a **red signal** appears, the next candle could show a downward movement towards the Cpoint.
2. **Rpoint**
- Represents a level where a trend reversal could occur.
- When the price reaches the Rpoint, it signals a potential change in direction.
- In case of a green signal, this could indicate a shift from an upward to a downward movement. Conversely, a red signal at the Rpoint might suggest a shift from downward to upward.
3. **CRgap**
- Reflects the distance between the last candle's closing price and the calculated Cpoint/Rpoint.
- It helps traders evaluate the risk-to-reward ratio for their potential trades.
- In case of a green signal, CRgap indicates the potential distance the price could move towards the Cpoint. If the price approaches the Rpoint, the same CRgap can guide target and stop levels.
- For a red signal, CRgap similarly represents the possible movement towards the Cpoint or a reversal at the Rpoint.
How It Works
The **Candle Riders CR1** uses a mathematical formula to calculate levels from the last 3 candles’ high, low, and close values. These levels provide a forward-looking view, projecting possible price movements for the **next candle**:
- **Green Signal on Current Candle**: Suggests a positive trend in the upcoming candle, with the price likely to move towards the Cpoint. The CRgap indicates the expected price movement, helping to set a risk-to-reward framework. If the price reaches the Rpoint, a reversal may occur, suggesting a change in direction.
- **Red Signal on Current Candle**: Implies a negative trend for the next candle, with the price tending to move towards the Cpoint. Here too, the CRgap helps assess risk and reward. If the price touches the Rpoint, a reversal might take place, indicating a potential upward movement.
- **Position Management**: If neither Cpoint nor Rpoint is reached, it is advisable to conclude the position when the current candle closes. However, if the same signal continues, the position can be carried forward to the next candle, although the levels for Cpoint, Rpoint, and CRgap will change.
Special Aspects
- **Predictive Analysis**: Unlike conventional indicators, CR1 calculates potential levels for the **next candle**, enabling traders to anticipate market movements.
- **Dynamic Updates**: Levels are recalculated with each new candle, ensuring relevance to evolving market conditions.
- **Multi-Time Frame Compatibility**: Suitable for all time frames, catering to intraday, swing, and positional traders.
Recommended Time Frames
Based on our **observations and back-testing**, the **Candle Riders CR1** has shown **consistent and reliable performance on the 15-minute, 30-minute, and 1-hour time frames**. These intervals appear to provide a balanced view of market movements, capturing trends effectively while minimizing noise.
While the indicator is versatile and can be used across various time frames, these specific durations have demonstrated a **higher degree of accuracy** and **clearer signal interpretation**.
It is important to note that past performance is not a guarantee of future results. Traders are encouraged to explore and adapt the time frames according to their trading style and risk appetite.
How to Use on
1. **Trend Anticipation**: Observe the signal on the current candle:
- **Green Signal**: Anticipate an upward movement in the next candle towards the Cpoint. Use CRgap to evaluate the potential movement. If the price approaches the Rpoint, it signals a potential reversal.
- **Red Signal**: Expect a downward movement in the next candle towards the Cpoint, using CRgap for risk-to-reward assessment. A reversal may occur if the price reaches the Rpoint.
2. **Reversal Indication**: The Rpoint serves as a crucial level for identifying potential trend reversals.
3. **Risk Management**: Utilize CRgap to set target and risk levels, aligning trades with calculated risk-to-reward ratios.
4. **Position Closure and Carry Forward**:
- If no significant movement occurs, consider closing the position at the candle’s end.
- If the same signal persists, the position can be carried forward to the next candle, keeping in mind that levels will be recalculated.
Important Notes
- The levels (Cpoint, Rpoint, CRgap) are calculated for the **next candle**, not the current one.
- Once the current candle closes, new levels are calculated, ensuring that the indicator remains forward-looking.
- These levels are meant to provide context and should be used as a guiding tool along with other trading strategies.
Disclaimer
The **Candle Riders CR1** indicator uses mathematical calculations to project potential price levels. These projections are for **informational and educational purposes only** and are not recommendations or guarantees of future price movements.
- Cpoint and Rpoint levels are based on historical market data and indicate potential price movement or reversal areas.
- CRgap helps traders evaluate risk-to-reward scenarios but should not be the sole basis for trading decisions.
- All trading decisions should be made with independent analysis and proper risk management.
Why It’s Special
1. **Forward-Looking Projections**: It predicts potential levels for the next candle, offering an anticipatory trading advantage.
2. **Dynamic Adaptation**: The indicator adapts to changing market conditions, recalculating levels with each new candle.
3. **Comprehensive Risk Analysis**: By calculating CRgap, it provides a clear framework for evaluating risk-to-reward ratios.
4. **Versatile Application**: Compatible with all time frames and markets, making it adaptable for different trading strategies.
5. **Suggested Time Frames**: Based on our experience, the **15-minute, 30-minute, and 1-hour** time frames have shown consistent and reliable performance.
HTF POI [TakingProphets]HTF POI – Higher Timeframe Points of Interest Detection
The HTF POI Indicator by Taking Prophets is designed for traders following ICT (Inner Circle Trader) concepts and smart money principles. This tool automatically detects higher timeframe (HTF) points of interest (POIs) such as Fair Value Gaps (FVGs), Inverse Fair Value Gaps (IFVGs), and Consequent Encroachment (CE) levels, helping traders spot high-probability trading zones used by institutions.
🔹 Key Features:
✅ Automatic Detection of FVGs & IFVGs – Identifies key price inefficiencies across multiple timeframes.
✅ Multi-Timeframe Analysis – Detect POIs on the current timeframe and up to five higher timeframes (HTF1 to HTF5).
✅ Customizable Sensitivity – Adjust detection settings to High, Medium, or Low based on price gap size.
✅ Fair Value Gap (FVG) Encroachment Lines – Optional midpoint levels to track potential price rebalancing.
✅ Volume Display Option – View volume within detected FVGs for additional confluence.
✅ Inverse Fair Value Gaps (IFVGs) – Tracks invalidated gaps that turn into new liquidity pools.
✅ Works Across All Markets – Ideal for Forex, Futures, Stocks, and Crypto.
🔹 How It Works:
📌 Fair Value Gaps (FVGs) – Price inefficiencies caused by fast institutional moves that often get revisited.
📌 Bullish FVGs (BISI) – Formed when price gaps up, creating a demand zone where price may return.
📌 Bearish FVGs (SIBI) – Formed when price gaps down, acting as a supply zone for potential reversals.
📌 Inverse Fair Value Gaps (IFVGs) – Previously unfilled FVGs that get mitigated and act as liquidity pools.
📌 Consequent Encroachment (CE) – The 50% midpoint of an FVG, where price often reacts.
📌 Multi-Timeframe Integration – Tracks higher timeframe gaps for confluence with lower timeframe setups.
🔹 How to Use:
Identify FVG zones for potential entries or exits in alignment with smart money concepts.
Use Consequent Encroachment (CE) levels to confirm reactions at the 50% level of an FVG.
Watch for IFVGs as they provide new liquidity pools after FVGs are invalidated.
Combine with CHoCH/BOS market structure shifts and Order Blocks for higher-probability trades.
🚀 Refine your trade entries with precision using the HTF POI Indicator by Taking Prophets!
HTF Order Blocks [TakingProphets]HTF Order Blocks – Smart Money Order Block Detection
The HTF Order Blocks Indicator by Taking Prophets is designed for traders following ICT (Inner Circle Trader) concepts and smart money strategies. This indicator automatically detects higher timeframe (HTF) order blocks, allowing traders to track key institutional levels for potential reversals, continuations, and liquidity grabs.
🔹 Key Features:
✅ Automatic HTF Order Block Detection – Identifies bullish and bearish order blocks across multiple timeframes.
✅ Customizable Sensitivity – Adjust detection settings to High, Medium, or Low for filtering OB size based on ATR.
✅ Multi-Timeframe Analysis – Track up to five higher timeframes alongside the current timeframe.
✅ Breaker Block Detection – Optionally highlight breaker blocks when order blocks are invalidated.
✅ Visual Order Block Markings – Displays colored order block zones with labels for clarity.
✅ Works Across All Markets – Ideal for Forex, Futures, Stocks, and Crypto.
🔹 How It Works:
📌 Order Blocks (OBs) – Areas where price previously reversed due to institutional buying/selling.
📌 Bullish OBs – Formed after a down move when price breaks structure to the upside.
📌 Bearish OBs – Formed after an up move when price breaks structure to the downside.
📌 Breaker Blocks – Previously unmitigated OBs that get invalidated and turn into resistance/support.
📌 Multi-Timeframe Integration – Allows traders to track HTF OBs for confluence in their lower timeframe trades.
🔹 How to Use:
Look for order blocks at key liquidity zones to anticipate potential reversals.
Use multi-timeframe OBs to confirm bias and refine entries.
Identify breaker blocks when previous OBs fail, signaling trend shifts.
Combine with CHoCH/BOS structure shifts for high-probability trade setups.
🚀 Take your trading to the next level with the HTF Order Blocks Indicator by Taking Prophets!
HTF Market Structure [TakingProphets]HTF Market Structure
The Market Structure CHoCH/BOS (Fractal) Indicator is designed for traders using smart money concepts and ICT (Inner Circle Trader) methodology to track market structure shifts in real time. It automatically detects Change of Character (CHoCH) and Break of Structure (BOS) events based on fractal highs and lows, helping traders identify potential trend reversals and continuations with greater precision.
🔹 Key Features:
✅ Automatic CHoCH & BOS Detection – No need for manual plotting; the indicator highlights key structure shifts.
✅ Custom Lookback Period – Adjustable fractal settings to fine-tune market structure sensitivity.
✅ Multi-Timeframe Market Structure Table – Displays the most recent CHoCH state on multiple timeframes (Weekly, Daily, 4H, 1H, 15m, 5m).
✅ Candle Coloring – Optional feature to change candle colors after a CHoCH for better visual clarity.
✅ Works Across All Markets – Use it for Forex, Stocks, Crypto, and Futures.
🔹 How It Works:
📌 Break of Structure (BOS) – Indicates a continuation of the existing trend when price breaks a previous swing high or low.
📌 Change of Character (CHoCH) – Suggests a potential trend reversal when price structure shifts direction.
📌 Multi-Timeframe Confirmation – The built-in table tracks the latest CHoCH across different timeframes to help confirm bias.
🔹 How to Use:
Look for CHoCH signals at key liquidity zones (order blocks, fair value gaps).
Use BOS confirmations to follow trend continuations.
Combine with other smart money concepts like imbalance fills and liquidity grabs for stronger trade setups.
🚀 Enhance your market structure analysis with the CHoCH/BOS Indicator
[GrandAlgo] Institutional Price BlocksThe Institutional Price Blocks indicator identifies key price levels where significant market activity is likely to occur. Using a proprietary algorithm, it detects zones of institutional interest based on confirmed price behavior rather than standard support and resistance levels. These zones dynamically adjust to market conditions, reflecting areas where price has consistently reacted. By focusing on verified price movements, the indicator provides a structured approach to identifying high-impact levels, helping traders navigate market movements with greater confidence.
Key Features:
Proprietary Algorithm – Identifies critical price zones only after key confirmation signals, ensuring reliability.
Dynamic Institutional Levels – Zones adjust with market conditions, highlighting areas where significant activity occurs.
Highly Respected Price Zones – Levels where price consistently reacts, providing clear trading opportunities.
Visual Clarity – Clean, color-coded zones make it easy to identify potential entry and exit points.
Noise Reduction – Focuses only on the most impactful levels, eliminating irrelevant signals.
What Makes It Different?
Many indicators highlight price levels, but Institutional Price Blocks stands out by using an algorithm that waits for specific price behaviors before marking a zone. This means you're not just looking at random support or resistance—you're seeing areas where real institutional interest has been confirmed.
Verified Market Zones – Unlike traditional support/resistance indicators, these blocks appear only when the algorithm detects confirmed price movements, reflecting institutional participation.
Dynamic Adjustments – The algorithm isn’t static; it evolves with the market, ensuring the most current and relevant zones are always displayed.
High Respect from Price – These levels are consistently respected across different timeframes, making them reliable for entries, exits, and trend confirmation.
How to Use Institutional Price Blocks in Live Trading:
Spotting High-Probability Reversals:
🔶 When price approaches an Institutional Price Block, it often signals a potential reversal. These zones reflect areas of significant market interest, where large players are likely to defend their positions.
Identifying Continuation Opportunities:
🔶 If price breaks through an Institutional Price Block and later retests it, this can signal a continuation in the trend direction.
Precision Risk Management:
🔶 Place your stop-loss just outside these blocks, knowing that if price moves beyond the zone, the trade idea is invalidated.
Complementing Existing Strategies:
🔶 Combine Institutional Price Blocks with other tools like momentum indicators or trend analysis to strengthen your trading edge.
Disclaimer:
This indicator is a technical analysis tool designed to assist traders in evaluating market conditions. It does not guarantee future price movements or trading outcomes and should not be relied upon as the sole decision-making tool. The effectiveness of this indicator depends on its application, requiring your trading knowledge, experience, and judgment.
Trading involves financial risk, including the potential loss of capital. Past performance does not guarantee future results. This script is intended for educational and informational purposes only and does not constitute financial or investment advice. Users are encouraged to perform their own analysis and consult with a financial professional before making trading decisions.
BPR [TakingProphets]The BPR (Balanced Price Range) Indicator by Taking Prophets is built for traders who follow ICT (Inner Circle Trader) concepts and smart money strategies. In ICT methodology, a Balanced Price Range (BPR) occurs when price rapidly moves in one direction, creating an imbalance that often gets revisited before price continues its trend. These areas represent inefficiencies in the market where liquidity was not properly distributed, making them key zones for potential retracements and trade setups.
How the Indicator Works:
🔹 Automatically Detects BPRs – No need to manually mark imbalances; the indicator highlights them for you.
🔹 Helps Identify Smart Money Footprints – Spot areas where price is likely to retrace and rebalance liquidity.
🔹 Customizable Sensitivity – Adjust detection parameters based on your preferred trading style.
🔹 Works Across All Markets – Apply it to Forex, Futures, Crypto, and Stocks on TradingView.
🔹 Clean and Intuitive Interface – Designed to be simple yet powerful for both new and experienced traders.
Midnight Range Standard DeviationsCredit to Lex Fx for the basic framework of this script
This indicator is designed to assist traders in identifying potential trading opportunities based on the Intraday Concurrency Technique (ICT) concepts, specifically the midnight range deviations and their relationship to Fibonacci levels. It builds upon the work of Lex-FX, whom we gratefully acknowledge for the original concept and inspiration for this indicator.
Core Concept: ICT Midnight Range
The core of this indicator revolves around the concept of the midnight range. According to ICT, the high and low formed in a specific time window (typically the first 30 minutes after midnight, New York Time) can serve as a key reference point for intraday price action. The indicator identifies this range and projects potential support and resistance levels based on deviations from this range, combined with Fibonacci ratios.
How ICT Uses Midnight Range Deviations
ICT methodology often involves looking for price to move away from the initial midnight range, then return to it, or deviate beyond it, as key areas for potential entries.
Range Identification: The indicator automatically identifies the high and low of the midnight range (00:00 - 00:30 NY Time).
Deviation Levels: The indicator calculates and displays deviation levels based on multiples of the initial midnight range. These levels are often used to identify potential areas of support and resistance, as well as potential targets for price movement. These levels can be set in the additional fib levels section, which can be configured in increments of .5 deviations all the way up to 12 deviations.
Fibonacci Confluence: ICT often emphasizes the confluence of multiple factors. This indicator adds Fibonacci levels to the midnight range deviations. This allows traders to identify areas where Fibonacci retracements or extensions align with the deviation levels, potentially creating stronger areas of support or resistance.
Looking for Sweeps: ICT often uses these levels to look for times that the high and low are swept as potential areas of liquidity, indicating the start of potential continuations.
Time-Based Analysis: The time at which price interacts with these levels can also be significant in ICT. The indicator provides options to extend the range lines to specific times (e.g., 3 hours, 6 hours, 10 hours, 12 hours, or a custom defined time) after midnight, allowing traders to focus on specific periods of the trading day.
Indicator Settings Explained:
Time Zone (TZ): Defines the time zone used for calculating the midnight range. The default is "America/New_York".
Range High Color, Range Low Color, Range Mid Color: Customize the colors of the high, low, and mid-range lines.
Range Fill Color: Sets the fill color for the area between the range high and low.
Line Style: Choose the style of the range lines (solid, dashed, dotted).
Range Line Thickness: Adjust the thickness of the range lines for better visibility.
Show Fibonacci Levels: Enable or disable the display of Fibonacci deviation levels.
Fib Up Color, Fib Down Color: Customize the colors of the Fibonacci levels above (up) and below (down) the midnight range.
Show Trendline: Enables a trendline that plots the close price, colored according to whether the price is above the high, below the low, or within the midnight range.
Show Range Lines, Show Range Labels: Toggles the visibility of the range lines and their associated labels.
Label Size: Adjust the size of the labels for better readability.
Hide Prices: Option to display only the deviation values on labels, hiding price values.
Place Fibonacci Labels on Left Side: Option to switch label position from right side to left side.
Extend Range To (Hours from Midnight): This section gives you a wide variety of options on how far you want to extend the range to, you can do 3,6,10,12, and 23 hours. Alternatively, you can select the "Use Custom Length" and set a specific time in hours.
Additional Fib Levels: This section allows the trader to set additional deviation points in increments of .5 deviations from .5 all the way up to 12 deviations
TradingView Community Guidelines Compliance:
This indicator description adheres to the TradingView community guidelines by:
Being educational: It explains the ICT methodology and how the indicator can be used in trading.
Being transparent: It clearly describes all the indicator's settings and their purpose.
Providing credit: It acknowledges Lex-FX as the original author of the concept.
Avoiding misleading claims: It does not guarantee profits or imply that the indicator is a "holy grail."
Disclaimer: Usage of this indicator and the information provided is at your own risk. The author is not responsible for any losses incurred as a result of using this indicator.
Important Considerations:
This indicator is intended for educational purposes and to assist in applying the ICT methodology.
It should not be used as a standalone trading system.
Always combine this indicator with other forms of technical analysis and risk management techniques.
Backtest thoroughly on your chosen market and timeframe before using in live trading.
Trading involves risk. Only trade with capital you can afford to lose.
Half Candle RetraceThis custom indicator draws a horizontal line at the 50% retracement level of each candlestick on the chart. It calculates the midpoint between the high and low of each candle, which is often used by traders to identify potential entry, exit and take-profit levels. Once price action returns to an untouched level, the line will be removed, leaving only the levels where price action is still missing.
Key Features:
Timeframe: Works on all timeframes.
Line Color: Customize the line color to suit your charting preferences.
Line Width: Adjust the thickness of the retracement line for better visibility.
Line Style: Choose between solid, dotted, or dashed lines.
Up/Down Candle Selection: Option to only display retracement lines for up (bullish) candles, down (bearish) candles, or both.
Full Customization: Control the transparency (opacity) of the line for enhanced visual clarity.
Simple Setup: No complicated settings – simply choose your preferred color, line style, and visibility options.
This indicator is perfect for traders who prefer to use price action and retracement levels to identify potential trade opportunities.
How It Works:
The indicator automatically calculates the 50% level (midpoint) for each candlestick, drawing a line at this level. It will only draw lines for candles that match your chosen criteria (up or down candles), ensuring the chart remains clean and relevant to your trading strategy. Lines are automatically removed as soon as price crosses them.
Candle Partition Statistics with IQV and Chi2NOTE: THE FORMULA IN THE CHART IS NOT PART OF THE CODE
This Pine Script calculates statistical measures for candle partitions based on whether a candle is bullish or bearish and whether the price is above or below an EMA. It evaluates statistical properties such as the Index of Qualitative Variation (IQV) and the Chi-Square (χ²) statistic to assess variations in price action.
Concept of Index of Qualitative Variation (IQV)
IQV is a statistical measure used to quantify the diversity or dispersion of categorical variables. In this script, it is used to measure how evenly the four categories of candles (green above EMA, red above EMA, green below EMA, red below EMA) are distributed.
Purpose of IQV in the Script:
IQV ranges from 0 to 1, where 0 indicates no variation (one category dominates) and 1 indicates maximum variation (categories are equally distributed).
A high IQV suggests balanced distributions of bullish/bearish candles above/below the EMA, indicating market uncertainty or mixed sentiment.
A low IQV suggests dominance of a particular candle type, indicating a strong trend.
Concept of Chi-Square (χ²) Test
Chi-square (χ²) is a statistical test that measures the difference between expected and observed frequencies of categorical data. It assesses whether short-term price behavior significantly deviates from historical trends.
Purpose of Chi-Square in the Script:
A high χ² value means that short-term candle distributions are significantly different from historical patterns, indicating potential trend shifts.
If χ² exceeds a predefined significance threshold (chi_threshold), an alert (Chi² Alert!) is triggered.
It helps traders identify periods where recent price behavior deviates from historical norms, possibly signaling trend reversals or market regime changes.
Key Takeaways:
IQV helps measure the diversity of price action, detecting whether the market is balanced or trending.
Chi-square (χ²) identifies significant deviations in short-term price behavior compared to long-term trends.
Both metrics together provide insights into whether the market is stable, trending, or shifting.
The Nasan C-score enhances trend strength by incorporating volatility. It is calculated as:
enhanced_t_s =(𝑡𝑠 × avg_movement x 100)/SMA(𝑐lose)
Key Components:
𝑡𝑠 : Measures trend strength based on price movements relative to EMA.
ts=green_EMAup_a+0.5×red_EMAup_a−(0.5×green_EMAdown_a+red_EMAdown_a)
avg_movement: The SMA of absolute close-open differences, capturing volatility.
Normalization: The division by SMA(close) adjusts the score relative to price levels.
Purpose of the Nasan C-score
Enhanced Trend Strength
It amplifies the trend strength value by factoring in volatility (price movement).
If price volatility is high, trend strength variations have a greater impact.
Volatility-Adjusted Momentum
By scaling 𝑡𝑠 with average movement, the score adjusts to changing price dynamics.
Higher price fluctuations lead to a higher score, making trend shifts more prominent.
How It Can Be Used in Trading
Higher values of Nasan C-score indicate strong bullish or bearish trends.
Comparing it with past values helps determine whether momentum is increasing or fading.
Thresholds can be set to identify significant trend shifts based on historical highs and lows.
PumpC CBC EMAs + VWAPPumpC CBC EMAs + VWAP Indicator for Tradingview
Introduction
This is an indicator for the Candle By Candle (CBC) Flip strategy , based on the CBC Flip concept taught by MapleStax and inspired by the original CBC Flip indicator by AsiaRoo . The CBC Flip strategy is a simple yet effective approach to gauge if bulls or bears are in control for any given candle.
The logic behind the CBC Flip is as follows:
Bullish Flip : If the most recent candle’s close is above the previous candle’s high, bulls have taken control.
Bearish Flip : If the most recent candle’s close is below the previous candle’s low, bears are now in control.
No Flip : If neither condition is met, the previously dominant side (bulls or bears) remains in control until one of these conditions is satisfied, flipping the market sentiment—hence the name CBC Flip .
The PumpC CBC EMAs + VWAP Indicator enhances this simple strategy by adding trend confirmation filters using EMAs and VWAP , along with time-restricted signal generation and fully customizable alerts.
What Does This Indicator Do?
The PumpC CBC EMAs + VWAP Indicator helps traders identify CBC Flips to spot potential trend continuations or reversals. It combines candlestick logic , trend filters , and time-based restrictions to provide high-probability trade signals.
CBC Flip Detection
Bullish Flip : Current close is above the previous candle’s high.
Bearish Flip : Current close is below the previous candle’s low.
Strict Flips : Require a liquidity sweep for higher accuracy.
All Flips : Looser conditions that generate more frequent signals.
EMA and VWAP Trend Confirmation (Optional)
This filter ensures that long signals only trigger when the Slow EMA is above the VWAP , confirming an upward trend. For short signals, the Slow EMA must be below the VWAP.
Time-Based Filtering
The indicator allows you to set a specific trading window (e.g., 9:00 AM to 3:00 PM), helping you avoid low-volume or high-risk periods.
Visual Labels and Alerts
Labels : Arrows (▲ for long and ▼ for short) mark CBC Flip points on the chart.
Alerts : Fully customizable notifications for each signal type, based on your chosen filters.
Key Features
CBC Flip Detection : Identify potential reversals and trend continuations.
Strict vs. All Flips : Choose between higher-accuracy strict flips or more frequent all flips.
EMA-to-VWAP Filter : Optional trend confirmation filter to reduce false signals.
Customizable EMAs and VWAP : Configure lengths and colors for visual clarity.
Time-Restricted Signals : Focus on your preferred trading session.
Custom Alerts : Notifications for long and short signals based on filter settings.
Credits and Inspiration
The CBC Flip strategy was created by MapleStax .
This indicator is inspired by the original CBC Flip indicator by AsiaRoo .
Additional enhancements include EMA-to-VWAP filtering , custom alerts , and time-restricted signal generation for a more comprehensive trading experience.
Risks and Disclaimer
This indicator is for educational purposes only and does not constitute financial advice.
Trading involves significant risk, and past performance does not guarantee future results. Always test this indicator in a simulated environment before live trading.
SPY vs TQQQ Candle Divergence# SPY vs TQQQ Candle Divergence Indicator
## Description
This indicator monitors and visualizes candlestick divergences between SPY (S&P 500 ETF) and TQQQ (ProShares UltraPro QQQ ETF). It identifies situations where one security is showing bullish movement (green candle) while the other is showing bearish movement (red candle) within the same time period.
## Features
- Real-time divergence detection between SPY and TQQQ
- Visual markers with distinct colors for each type of divergence
- Built-in alert conditions for automated monitoring
- Works on any timeframe
- Overlay indicator that plots directly on the chart
## Divergence Types
### SPY Bullish / TQQQ Bearish
- Condition: SPY forms a green candle while TQQQ forms a red candle
- Marker: Green label with "SPY" text above the bar
- Alert Message: "SPY is green while TQQQ is red"
### SPY Bearish / TQQQ Bullish
- Condition: SPY forms a red candle while TQQQ forms a green candle
- Marker: Red label with "SPY" text below the bar
- Alert Message: "TQQQ is green while SPY is red"
### TQQQ Bullish / SPY Bearish
- Visualization: Blue label with "TQQQ" text above the bar
- Indicates TQQQ strength relative to SPY
### TQQQ Bearish / SPY Bullish
- Visualization: Purple label with "TQQQ" text below the bar
- Indicates TQQQ weakness relative to SPY
## Technical Implementation
- Built on Pine Script version 5
- Uses `request.security()` to fetch data for both symbols
- Implements simple candle color detection (1 for green, -1 for red, 0 for doji)
- Plots markers using `plotshape()` with different colors and positions
## Visual Elements
- Label Colors:
- SPY Bullish: Green
- SPY Bearish: Red
- TQQQ Bullish: Blue
- TQQQ Bearish: Purple
- All labels use white text for visibility
- Small label size for clean chart appearance
- Labels positioned above/below bars for clear identification
## Alert System
Two built-in alert conditions:
1. "SPY Green TQQQ Red Divergence"
2. "TQQQ Green SPY Red Divergence"
## Usage
1. Add the indicator to any chart (preferably SPY or TQQQ)
2. Look for colored labels indicating divergences
3. Set up alerts for automated monitoring
4. Use divergences as potential signals for:
- Market sector rotation
- Relative strength analysis
- Trading opportunities
- Risk management
## Notes
- Best used in conjunction with other technical indicators
- Consider overall market conditions when interpreting signals
- Useful for identifying potential market reversals or continuations
- Can help in timing entries and exits
## Limitations
- Requires data feed for both SPY and TQQQ
- Only considers candle color, not candle size or volume
- May generate frequent signals in choppy markets
## Disclaimer
This indicator is for informational purposes only. Always use proper risk management and consider multiple factors when making trading decisions.
Stick Sandwich Pattern# Stick Sandwich Pattern Indicator
## Description
The Stick Sandwich Pattern Indicator is a custom TradingView script that identifies specific three-candle patterns in financial markets. The indicator uses a sandwich emoji (🥪) to mark pattern occurrences directly on the chart, making it visually intuitive and easy to spot potential trading opportunities.
## Pattern Types
### Bullish Stick Sandwich
A bullish stick sandwich pattern is identified when:
- First candle: Bullish (close > open)
- Second candle: Bearish (close < open)
- Third candle: Bullish (close > open)
- The closing price of the third candle is within 10% of the first candle's range from its closing price
### Bearish Stick Sandwich
A bearish stick sandwich pattern is identified when:
- First candle: Bearish (close < open)
- Second candle: Bullish (close > open)
- Third candle: Bearish (close < open)
- The closing price of the third candle is within 10% of the first candle's range from its closing price
## Technical Implementation
- Written in Pine Script v5
- Runs as an overlay indicator
- Uses a 10% tolerance range for closing price comparison
- Implements rolling pattern detection over the last 3 candles
- Break statement ensures only the most recent pattern is marked
## Visual Features
- Bullish patterns: Green sandwich emoji above the pattern
- Bearish patterns: Red sandwich emoji below the pattern
- Label size: Small
- Label styles:
- Bullish: Label points upward
- Bearish: Label points downward
## Usage
1. Add the indicator to your TradingView chart
2. Look for sandwich emojis that appear above or below price bars
3. Green emojis indicate potential bullish reversals
4. Red emojis indicate potential bearish reversals
## Code Structure
- Main indicator function with overlay setting
- Two separate functions for pattern detection:
- `bullishStickSandwich()`
- `bearishStickSandwich()`
- Pattern scanning loop that checks the last 3 candles
- Built-in label plotting for visual identification
## Formula Details
The closing price comparison uses the following tolerance calculation:
```
Tolerance = (High - Low of first candle) * 0.1
Valid if: |Close of third candle - Close of first candle| <= Tolerance
```
## Notes
- The indicator marks patterns in real-time as they form
- Only the most recent pattern within the last 3 candles is marked
- Pattern validation includes both candle direction and closing price proximity
- The 10% tolerance helps filter out weak patterns while catching meaningful ones
## Disclaimer
This indicator is for informational purposes only. Always use proper risk management and consider multiple factors when making trading decisions.
OI RSI - WuJianDAOOI RSI (Open Interest Relative Strength Index)
Overview: OI RSI is a technical indicator that applies the RSI concept to open interest data.
Key Features:
Traditional vs. OI RSI:
Traditional RSI measures price movements to identify overbought or oversold conditions.
OI RSI computes the relative strength of open interest over a specified period.
Purpose:
Provides insights into market participation and sentiment by evaluating open interest levels.
Application:
Assists traders in detecting potential reversals or confirming trends based on open interest dynamics.
50% Candle RetraceThis custom indicator draws a horizontal line at the 50% retracement level of each candlestick on the chart. It calculates the midpoint between the high and low of each candle, which is often used by traders to identify potential entry, exit and take-profit levels. Once price action returns to an untouched level, the line will be removed, leaving only the levels where price action is still missing.
Key Features:
Timeframe: Works on all timeframes.
Line Color: Customize the line color to suit your charting preferences.
Line Width: Adjust the thickness of the retracement line for better visibility.
Line Style: Choose between solid, dotted, or dashed lines.
Up/Down Candle Selection: Option to only display retracement lines for up (bullish) candles, down (bearish) candles, or both.
Full Customization: Control the transparency (opacity) of the line for enhanced visual clarity.
Simple Setup: No complicated settings – simply choose your preferred color, line style, and visibility options.
This indicator is perfect for traders who prefer to use price action and retracement levels to identify potential trade opportunities.
How It Works:
The indicator automatically calculates the 50% level (midpoint) for each candlestick, drawing a line at this level. It will only draw lines for candles that match your chosen criteria (up or down candles), ensuring the chart remains clean and relevant to your trading strategy. Lines are automatically removed as soon as price crosses them.
Daily Bias IndicatorThe Daily Bias Indicator is a TradingView script designed to help traders identify bullish and bearish biases based on price action from the last two daily candles. It highlights market sentiment by checking whether price breaks key levels and reacts accordingly.
How It Works:
Bullish Bias:
The price breaks above the previous high and closes above it.
The price breaks below the previous low but fails to close lower.
Bearish Bias:
The price breaks below the previous low and closes below it.
The price breaks above the previous high but fails to close higher.
Labels appear red at the bottom for bearish bias on the next day and green for bullish bias on the next day.
CSR Ultimate (Final)This indicator calculates and displays a "Candle Strength Ratio" (CSR) to help you gauge bullish versus bearish momentum on a given timeframe. Here’s what it does:
*Multiple Calculation Methods:*
*You can choose among three different methods:*
-Classic CSR: Compares the difference between the upper and lower parts of the candle relative to its total range.
-Weighted Body CSR: Gives more weight to the candle’s body relative to its wicks.
-Close-Focused CSR: Focuses on the net movement from open to close relative to the full range.
*Optional Enhancements:*
The indicator allows you to enable additional features to refine it:
-Volume Weighting: Adjusts the CSR based on the ratio of current volume to a moving average of volume, so a candle on higher-than-average volume might carry more weight.
-ATR Normalization: Normalizes the CSR using the Average True Range (ATR) to account for market volatility.
-Multi-Bar Averaging: Averages the CSR over a specified number of bars to smooth out noise.
-RSI Filter: Optionally checks an RSI condition (bullish if RSI > 50 or bearish if RSI < 50) to help filter out signals that might not be supported by overall momentum.
*Visual and Alert Features:*
The indicator plots the CSR line with color coding (green for bullish, red for bearish) and draws horizontal threshold lines. It also adjusts the chart background color when the CSR exceeds defined bullish or bearish levels and provides alerts when these thresholds are crossed.
Inside Bars ITInside Bars IT Indicator
The Inside Bars IT indicator is a powerful tool designed to identify Inside Bars and their extended patterns (InsideBar2) on any chart. An Inside Bar is a candlestick pattern where the current candle's high is lower than the previous candle's high, and the current candle's low is higher than the previous candle's low. This pattern often signals market consolidation and potential breakout opportunities.
The indicator extends the concept of Inside Bars by introducing InsideBar2, which uses the high and low of the first Inside Bar as reference levels. Subsequent candles are classified as InsideBar2 if their high is less than or equal to the reference high and their low is greater than or equal to the reference low.
MT-Trend Zone IdentifierTrend Zone Identifier – A Dynamic Market Trend Mapping Tool
Overview
The Trend Zone Identifier is an advanced TradingView indicator that helps traders visualize different market trend phases. By leveraging Pivot Points, Moving Averages (MA), ADX (Average Directional Index), and Retest Confirmation, this tool identifies uptrend, downtrend, and ranging (sideways) conditions dynamically.
This indicator is designed to segment the market into clear trend zones, allowing traders to distinguish between confirmed trends, trend transitions (pending zones), and ranging markets. It provides an intuitive visual overlay to enhance market structure analysis and assist in decision-making.
Key Features
✔ Trend Zone Identification – Classifies price action into Uptrend (Green), Downtrend (Red), Pending Confirmation (Light Colors), and Sideways Market (Gray/Neutral)
✔ Pivot-Based Breakout & Breakdown Detection – Uses pivot highs/lows to determine trend shifts
✔ Moving Average & ADX Validation – Ensures the trend is backed by MA structure and ADX trend strength
✔ Pullback Confirmation – Allows trend confirmation based on price retesting key levels
✔ Extreme Volatility & Gaps Filtering – Optional ATR-based extreme movement filtering to avoid false signals
✔ Multi-Timeframe Support – Option to integrate higher timeframe trend validation
✔ Customizable Sensitivity – Fine-tune MA smoothing, ADX thresholds, pivot detection, and pullback range
How It Works
1. Trend Classification
• Uptrend (Green): Price is above a key MA, ADX confirms strength, and a pivot breakout occurs
• Downtrend (Red): Price is below a key MA, ADX confirms strength, and a pivot breakdown occurs
• Pending Trend (Light Colors): Initial trend breakout or breakdown is detected but requires further confirmation
• Sideways/Ranging (Gray): ADX signals a weak trend, and price remains within a neutral zone
2. Retest & Confirmation Logic
• A trend is only confirmed after a breakout or breakdown followed by a successful retest
• If the market fails the retest, the indicator resets to a neutral state
3. Custom Filters for Optimization
• Enable or disable volume filtering for confirmation
• Adjust pivot sensitivity to detect major or minor swing points
• Choose to require consecutive bars confirming the breakout/breakdown
Ideal Use Cases
🔹 Swing traders who want to capture trend transitions early
🔹 Trend-following traders who rely on confirmed market cycles
🔹 Range traders looking to identify sideways market zones
🔹 Algorithmic traders who need clean trend segmentation for automated strategies
Final Thoughts
The Trend Zone Identifier is a versatile market structure indicator that helps traders define trend cycles visually and avoid trading against weak trends. By providing clear breakout, breakdown, and retest conditions, it enhances market clarity and reduces decision-making errors.
➡ Add this to your TradingView workspace and start analyzing market trends like a pro! 🚀
ICT First Presented FVG - NY Open [LuckyAlgo]
This indicator identifies the first Fair Value Gap (FVG) that occurs during the New York trading session, combined with NY session opening price levels. It's an essential tool for traders who follow ICT concepts and focus on the NY trading session.
ICT refers to this as the First Presented FVG, while other traders may call it the 9:30 FVG.
This indicator is best for the 1 minute timeframe, while 5 minute also works.
Detects and marks the first FVG of the NY session
Displays both bullish (green) and bearish (red) FVGs with customizable transparency
Shows the NY session opening price with clear labels
Includes optional vertical line at 9:30 AM NY open
Maintains clean chart visibility with adjustable maximum display days
Includes session date and time labels for easy reference
The indicator helps traders identify potential reversal zones and continuation opportunities by combining two powerful concepts: Fair Value Gaps and NY session opening price. This makes it particularly valuable for day traders and swing traders who want to capitalize on institutional order flow patterns during the most liquid trading session.
You can customize the indicator's appearance, including FVG box colors, time range display, and whether to show the NY open markers. This flexibility allows you to integrate it seamlessly with your existing trading setup.
Correlated asset and Daye's Quarterly TheoryThis indicator is based on the Quarterly Theory concepts from Daye. You can find him mainly on X as traderdaye.
It works on a new panel and the quarters will be drawn over the chart of the correlated that you set on its settings.
You can use every asset to compare with the main one to make easier to find divergences between days, sessions and 90 minutes cycles.
In different timeframes, the indicator could show more or less information about quarters, but will always show the compared asset one. This is due to limitations of the candles start (for example, the Session's Q2 open won't be shown on an hourly chart because it starts after 30 minutes of candle's open).
What can this indicator do for you?
- Show the correlated asset chart.
- Show daily, session and 90 minutes cycle boxes.
- Show Midnight and every session's Q2 open.
- Make easier for the trained eye to determine if the model is AMDX or XAMD, find PO3, turtle soups, SMT divergences, etc.
Do you have any suggestion? Please, leave it on the comments. I'll try to improve this indicator regularly.
WaridTR15 Dakika ve Üzeri Periyotlar İçin Önerilen Ayarlar:
EMA Uzunlukları:
Kısa EMA: 9 yerine 12 veya 14 kullanılabilir.
Uzun EMA: 21 yerine 26 veya 50 kullanılabilir.
Golden Cross için 50 EMA ve 200 EMA zaten uzun vadeli trendleri yakalar, bu nedenle değiştirmeye gerek yok.
RSI Uzunluğu:
RSI uzunluğu 14 yerine 21 veya 28 yapılabilir. Bu, daha uzun vadeli aşırı alım/aşırı satım bölgelerini daha doğru tespit eder.
Volume Filtresi:
Volume ortalaması için 20 periyot yerine 50 veya 100 periyot kullanılabilir. Bu, daha uzun vadeli hacim eğilimlerini yakalar.
Ichimoku Parametreleri:
Ichimoku, varsayılan olarak 9-26-52 periyotlarıyla çalışır. Bu, zaten uzun vadeli trendleri yakalamak için uygundur. Ancak, daha uzun periyotlar için:
Tenkan-Sen: 9 yerine 14.
Kijun-Sen: 26 yerine 52.
Senkou Span B: 52 yerine 104.
Elephant Bar Detector by McAiElephant Bar Detector 🐘
Overview:
The Elephant Bar Detector identifies significant bullish and bearish bars (candlesticks) based on size and volume criteria. It also detects follow-through patterns, helping traders confirm strong price movements.
Features:
✅ Elephant Bar Detection:
Bullish Elephant Bar 🐘: A large bullish candle with high volume.
Bearish Elephant Bar 🐘: A large bearish candle with high volume.
✅ Follow-Through Confirmation:
Checks if price continues in the same direction after the Elephant Bar.
Requires at least 80% follow-through over the next few bars.
✅ Visual Markers & Alerts:
Yellow Elephant 🐘 (Bottom) → Bullish signal
Pink Elephant 🐘 (Top) → Bearish signal
Background Highlight: Indicates confirmed follow-through
Alerts: Get notified when an Elephant Bar or follow-through occurs.
How It Works:
Calculates the average candle size over a user-defined period.
Sets a volume threshold (average volume × multiplier).
Identifies Elephant Bars when price movement & volume exceed thresholds.
Confirms follow-through by checking if 80% of the next few bars continue in the same direction.
Customizable Settings:
Length for Average Candle Size (Default: 200)
Volume Multiplier (Default: 1.5)
Number of Follow-Through Bars (Default: 3)
This indicator helps traders spot strong price moves early and confirm trends before entering trades. 🚀🔥
