Fractal Trail [UAlgo]The Fractal Trail is designed to identify and utilize Williams fractals as dynamic trailing stops. This tool serves traders by marking key fractal points on the chart and leveraging them to create adaptive stop-loss trails, enhancing risk management and trade decision-making.
Williams fractals are pivotal in identifying potential reversals and critical support/resistance levels. By plotting fractals dynamically and providing configurable options, this indicator allows for personalized adjustments based on the trader's strategy.
This script integrates both visual fractal markers and adjustable trailing stops, offering insights into market trends while catering to a wide variety of trading styles and timeframes.
🔶 Key Features
Williams Fractals Identification: The indicator marks Williams Fractals on the chart, which are significant highs and lows within a specified range. These fractals are crucial for identifying potential reversal points in the market.
Dynamic Trailing Stops: The indicator generates dynamic trailing stops based on the identified fractals. These stops adjust automatically as new fractals are formed, providing a responsive and adaptive approach to risk management.
Fractal Range: Users can specify the number of bars to the left and right for analyzing fractals, allowing for flexibility in identifying significant price points.
Trail Buffer Percentage: A percentage-based safety margin can be added between the fractal price and the trailing stop, providing additional control over risk management.
Trail Invalidation Source: Users can choose whether the trailing stop flips based on candle closing prices or the extreme points (high/low) of the candles.
Alerts and Notifications: The indicator provides alerts for when the price crosses the trailing stops, as well as when new Williams Fractals are confirmed. These alerts can be customized to fit the trader's notification preferences.
🔶 Interpreting the Indicator
Fractal Markers: The triangles above and below the bars indicate Williams Fractals. These markers help traders identify potential reversal points in the market.
Trailing Stops: The dynamic trailing stops are plotted as lines on the chart. These lines adjust based on the latest identified fractals, providing a visual representation of potential support and resistance levels.
Fill Colors: The optional fill colors between the trailing stops and the price action help traders quickly identify the current trend and potential pullback zones.
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Fractalsmarket
Butterfly Harmonic Pattern [TradingFinder] Harmonic Detector🔵 Introduction
The Butterfly Harmonic Pattern is a sophisticated and highly regarded tool in technical analysis, utilized by traders to identify potential reversal points in the financial markets. This pattern is distinguished by its reliance on Fibonacci ratios and geometric configurations, which aid in predicting price movements with remarkable precision.
The origin of the Butterfly Harmonic Pattern can be traced back to the pioneering work of Bryce Gilmore, who is credited with discovering this pattern. Gilmore's extensive research and expertise in Fibonacci ratios laid the groundwork for the identification and application of this pattern in technical analysis.
The Butterfly pattern, like other harmonic patterns, is based on the principle that market movements are not random but follow specific structures and ratios.
The pattern is characterized by a distinct "M" shape in bullish scenarios and a "W" shape in bearish scenarios, each indicating a potential reversal point. These formations are identified by specific Fibonacci retracement and extension levels, making the Butterfly pattern a powerful tool for traders seeking to capitalize on market turning points.
The precise nature of the Butterfly pattern allows for the accurate prediction of target prices and the establishment of strategic entry and exit points, making it an indispensable component of a trader's analytical arsenal.
Bullish :
Bearish :
🔵 How to Use
Like other harmonic patterns, the Butterfly pattern is categorized based on how it forms at the end of an uptrend or downtrend. Unlike the Gartley and Bat patterns, the Butterfly pattern, similar to the Crab pattern, forms outside the wave 3 range at the end of a rally.
🟣 Types of Butterfly Harmonic Patterns
🟣 Bullish Butterfly Pattern
This pattern forms at the end of a downtrend and leads to a trend reversal from a downtrend to an uptrend.
🟣 Bearish Butterfly Pattern
In contrast to the Bullish Butterfly pattern, this pattern forms at the end of an uptrend and warns analysts of a trend reversal to a downtrend. In this case, traders are encouraged to shift their trading stance from buy trades to sell trades.
Advantages and Limitations of the Butterfly Pattern in Technical Analysis :
The Butterfly pattern is considered one of the precise and stable tools in financial market analysis. However, it is always important to pay special attention to the advantages and limitations of each pattern.
Here, we review the advantages and disadvantages of using the Butterfly harmonic pattern :
The main advantage of the Butterfly pattern is providing very accurate signals.
Using Fibonacci golden ratios and geometric rules, the Butterfly pattern identifies patterns accurately and systematically. (This high accuracy significantly helps investors in making trading decisions.)
Identifying this pattern requires expertise and experience in technical analysis.
Recognizing the Butterfly pattern might be complex for beginner traders. (Correct identification of the pattern necessitates mastery over geometric principles and Fibonacci ratios.)
The Butterfly harmonic pattern might issue false trading signals. (Traders usually combine the Butterfly pattern with other technical tools to confirm buy and sell signals.)
🔵 Setting
🟣 Logical Setting
ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition.
Show Valid Forma t: If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern.
Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk.
Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period.
🟣 Genaral Setting
Show : Enter "On" to display the template and "Off" to not display the template.
Color : Enter the desired color to draw the pattern in this parameter.
LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness.
LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries.
🟣 Alert Setting
Alert : On / Off
Message Frequency : This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone : The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
Price Action Fractal Forecasts [AlgoAlpha]🔮 Price Action Fractal Forecasts - Unleash the Power of Historical Patterns! 🌌✨
Dive into the future with AlgoAlpha's Price Action Fractal Forecasts ! This innovative indicator utilizes the mesmerizing complexity of fractals to predict future price movements, offering traders a unique edge in the market. By analyzing historical price action and identifying repeating patterns, this tool forecasts future price trends, providing visually engaging and actionable insights.
Key Features:
🔄 Flexible Data Series Selection: Choose your preferred data series for precise analysis.
🕰 Flexible Training and Reference Data Windows: Customize the length of training data and reference periods to match your trading style.
📈 Custom Forecast Length: Adjust the forecast horizon to suit your strategic objectives.
🌈 Customizable Visual Elements: Tailor the colors of forecast deviation cones, data reference areas, and more for optimal chart readability.
🔄 Anticipatory and Repetitive Forecast Modes: Select between anticipating future trends or identifying repetitive patterns for forecasts.
🔎 Enhanced Similarity Search: Leverages correlation metrics to find the most similar historical data segments.
📊 Forecast Deviation Cone: Visualize potential price range deviations with adjustable multipliers.
🚀 Quick Guide to Maximizing Your Trading with Price Action Fractal Forecasts:
🛠 Add the Indicator: Search for "Price Action Fractal Forecasts" in TradingView's Indicators & Strategies. Customize settings according to your trading strategy.
📊 Strategic Forecasting: Monitor the forecast deviation cone and forecast directional changes for insights into potential future price movements.
🔔 Alerts for Swift Action: Set up notifications based on forecast changes to stay ahead of market movements without constant monitoring.
Behind the Magic: How It Works
The core of the Price Action Fractal Forecasts lies in its ability to compare current market behavior with historical data to unearth similar patterns. It first establishes a training data window to analyze historical prices. Within this window, it then defines a reference length to identify the most recent price action that will serve as the basis for comparison. The indicator searches through the historical data within the training window to find segments that closely match the recent price action in the reference period.
Depending on whether you choose the anticipatory or repetitive forecast mode, the indicator either looks ahead to predict future prices based on past outcomes following similar patterns or focuses on the repeating patterns within the reference period itself for forecasts. The forecast's direction can be configured to reflect the mean average of forecasted prices or the end-point relative to the start-point of the forecast, offering flexibility in how forecasts are interpreted.
To enhance the comprehensiveness and visualization, the indicator features a forecast deviation cone. This cone represents the potential range of price movements, providing a visual cue for volatility and uncertainty in the forecasted prices. The intensity of this cone can be adjusted to suit individual preferences, offering a visual guide to the level of risk and uncertainty associated with the forecasted price path.
Embrace the fractal magic of markets with AlgoAlpha's Price Action Fractal Forecasts and transform your trading today! 🌟🚀
Immediate Trend - VHXIMMEDIATE TREND - VULNERABLE_HUMAN_X
This indicator is used to identify the immediate trend in the market.
When a Short Term High (STH) is engulfed and closed above, we consider that as a bullish trend.
And Similarly, when a Short Term Low (STL) is engulfed and closed below, we consider that as a bullish trend.
STH - A candle that is higher than the one candle towards it's left and one candle towards it's right.
STL - A candle that is lower than the one candle towards it's left and one candle towards it's right.
HOW TO USE:
1. Do not take trades purely based on the immediate trend showcased by the indicator. Rather, use them as confluence with your trading strategy.
2. When you are expecting price to reverse at your point of interest (Denamd/Supply zone), this indicator can help you predict the reversal by showcasing the current trend.
3. Using this indicator you can travel the trend as long as there is a change of trend predicted by this indicator.
Eliza Ellis Improved FractalsA little side project of mine. may enhance further in the future. Used best for scalping. The longer you're in the market the more the news is waiting to eat you so I'd recommend using high volume and getting in and out quickly
