Essa's Indicator V3Essa's Indicator V3 – Advanced Market Structure & Session Levels
A comprehensive TradingView tool designed for market structure analysis, session tracking, and trend identification. It combines session high/low plotting, adaptive exponential moving averages (EMAs), ZigZag patterns, fractals, and higher high/lower low (HH/LL) recognition. This indicator provides insights into price action, volatility, and breakout potential.
Core Features
1. Adaptive Exponential Moving Averages (EMAs)
Fast EMA (Blue Line, default: 9-period EMA) – Identifies short-term market trends.
Slow EMA (Red Line, default: 21-period EMA) – Highlights longer-term trend direction.
Volatility-Adjusted EMA Calculation – Uses ATR (Average True Range) to dynamically adjust smoothing, making the EMAs more responsive to market conditions.
EMAs can be toggled on or off in the settings.
2. Trading Session Highs and Lows
Tracks and plots the highs and lows of the three major trading sessions:
London Session (Red lines, 08:00-17:00 LDN / 03:00-12:00 NY)
New York Session (Blue lines, 12:00-21:00 LDN / 07:00-16:00 NY)
Asia Session (Yellow lines, 22:00-08:00 LDN / 18:00-03:00 NY)
Highs and lows for each session are marked, with breakouts potentially signaling key trading opportunities.
Background shading distinguishes active session times:
London Session – Light red background.
New York Session – Light blue background.
Asia Session – Light yellow background.
3. Breakout Alerts
Alerts notify traders when price crosses key session highs or lows:
Break Above Session Highs – Signals potential bullish momentum.
Break Below Session Lows – Indicates possible bearish movement.
Customizable alert settings allow users to focus on specific sessions.
4. ZigZag Market Structure Detection
Highlights significant price swings by identifying peaks and troughs.
Helps visualize trend direction and potential reversals.
Configurable ZigZag length for adjusting sensitivity to price movements.
5. Higher Highs (HH), Lower Lows (LL), Higher Lows (HL), and Lower Highs (LH) Identification
Detects and labels key market structure points:
Higher Highs (HH) and Higher Lows (HL) – Indicate an uptrend.
Lower Highs (LH) and Lower Lows (LL) – Suggest a downtrend.
Provides insights into trend continuation or possible reversals.
6. Fractal Markers
Identifies potential market turning points using fractal-based detection:
Up Fractals (Green Triangles above price) – Indicate potential upward reversals.
Down Fractals (Red Triangles below price) – Signal potential downward reversals.
Useful as a secondary confirmation tool for trade setups.
7. Custom Timezone Options
Allows switching between London (LDN) and New York (NY) timezones to align session markers with the trader’s location.
Ensures session high/low levels are accurately displayed for forex, crypto, and other markets.
Use Cases
Day traders and scalpers can track session high/low breakouts and real-time market structure shifts.
Swing traders can identify trend continuation or reversal opportunities.
Volatility-based traders benefit from adaptive EMAs that dynamically adjust to market conditions.
Price action traders can use market structure indicators to enhance entry and exit strategies.
Essa’s Indicator V3 is a multi-functional tool designed for traders who require a structured approach to technical analysis, with configurable session tracking, adaptive moving averages, and market structure insights.
High
Swing High/Swing LowSwing High/Swing Low shows levels where market recently turned up, producing a new swing low (red dots) or turned down, leaving a new swing high (green dots).
This indicator finds market turns based on at least 3 candles.
To detect a swing low , this indicator is looking for two candles with lower highs and lower lows. Then, if the third or any subsequent candle closes above the high of the first candle, market has turned up producing a swing low.
Similarly, to detect a swing high , the indicator is looking for two candles with higher highs and higher lows. Then, if the third or any subsequent candle closes below the low of the first candle, market has turned down producing a swing high.
Additionally, if there are inside candles after first candle, those are skipped and and overall pattern is analyzed without them.
Daily High/Low by Enes🔥 Features:
✅ Daily high & low as continuous lines extending to the right
✅ Automatic daily updates
✅ Labels ("Daily High" & "Daily Low") directly on the chart
Futures Open/High/Low TablesAdds (up to) 3 tables to a chart, displaying Open/High/Low data for today (RTH and extended hours), yesterday, and the current week / month -- to help with intraday analysis of a futures ticker.
The tables only appear on intraday charts (5min, 30min, etc). On a Daily/Weekly/etc chart they are not calculated or shown.
In addition to Open/High/Low, the "Current" table in the top-right shows a live measurement of # of points from the open, the RTH open, and the highs/lows.
Lastly, the 9:30am ET open and the 4pm RTH close are by default marked with a shaded background (on intraday charts) for easy visual reference, and also to help with adjusting the session time to accommodate time zone issues if they occur.
Tested on ES in Eastern Time Zone, but should work on any futures instrument and any time zone by adjusting the Session Time setting.
High-Low Breakout Strategy with ATR traling Stop LossThis script is a TradingView Pine Script strategy that implements a High-Low Breakout Strategy with ATR Trailing Stop.created by SK WEALTH GURU, Here’s a breakdown of its key components:
Features and Functionality
Custom Timeframe and High-Low Detection
Allows users to select a custom timeframe (default: 30 minutes) to detect high and low levels.
Tracks the high and low within a user-specified period (e.g., first 30 minutes of the session).
Draws horizontal lines for high and low, persisting for a specified number of days.
Trade Entry Conditions
Long Entry: If the closing price crosses above the recorded high.
Short Entry: If the closing price crosses below the recorded low.
The user can choose to trade Long, Short, or Both.
ATR-Based Trailing Stop & Risk Management
Uses Average True Range (ATR) with a multiplier (default: 3.5) to determine a dynamic trailing stop-loss.
Trades reset daily, ensuring a fresh start each day.
Trade Execution and Partial Profit Taking
Stop-loss: Default at 1% of entry price.
Partial profit: Books 50% of the position at 3% profit.
Max 2 trades per day: If the first trade hits stop-loss, the strategy allows one re-entry.
Intraday Exit Condition
All positions close at 3:15 PM to ensure no overnight risk.
Dynamic Time Period CandlesThis indicator gives the dynamic history of the current price over various time frames as a series of candles on the right of the display, with optional lines on the chart, so that you can assess the current trend more easily.
In the library I found lots of indicators that looked at the previous xx time period candle, but they then immediately switched to the new xx time candle when it started to be formed. This indicator looks back at the rolling previous time period. With this indicator, you can clearly see how price has been behaving over time.
IMPORTANT SETUP INFO:
Initially, you must go into the settings and select the timeframe (in minutes) that your chart is displaying. If you don't do this then the indicator will look back the wrong number of candles and give you totally wrong results.
You can then setup how high you want the candle labels to be on the chart.
Then you can select settings for each candle that you want displayed. Anywhere between 1 and 5 different timeframes can be displayed on the chart at once.
I initially published an indicator called 'Dynamic 4-Hour Candle (Accurate Highs and Lows)', but this new indicator is so different that it needs to be forked and published as a separate indicator. The reasons for this are below:
The original indicator only looked at the previous 4 hour time period. This indicator allows the user to select any time period that they choose.
The original indicator only looked at one time period. This indicator allows to select between one and five time periods on the chart at once.
The original indicator did not put lines on the chart to show the lookback period and the highs and lows of that time period. This indicator does both those things.
The name of the original indicator in no way now describes what this new indicator is capable of, and would be very misleading to anyone who came across it. This new indicator has a name that much more accurately reflects what its' purpose and functionality is.
First 5 Minutes Open/Close LinesThis very simple indicator paints lines at the high and low of the first 5m candle of the session. It is primarily intended for big cap NYSE traded stocks with high volume. I wrote this indicator to save me the trouble of manually drawing the lines each day.
The lines drawn at the 5m high/low will remain constant regardless of which timeframe you switch to. In the example screenshot, we are looking at the 1m timeframe. This helps us switch effortlessly between different timeframes to see if a given price movement meets our entry criteria.
In addition to drawing lines at the first 5m high/low, it will optionally paint two zones, one each around the high and low. The boundaries of this zone are configurable and expressed as a percentage of the total movement of the first 5m bar. By default, it is set to 25%.
This indicator is based on the concept that the first 5m bar always has massive volume which helps us infer that price may react around the extremes of that movement. The basic strategy works something like this:
- You identify the high timeframe (HTF) trend direction of the stock
- You wait for the first 5m candle of the session to close
- You wait for price to puncture through the outer boundary of the zone marked by the indicator.
- You enter when price retraces to the high, or low, which marks the midpoint of the punctured zone.
- Only enter long on stocks in a HTF uptrend, and short on stocks in an HTF downtrend.
- Use market structure to identify stop loss and take profit targets
Note: Use at your own risk. This indicator and the strategy described herein are not in any way financial advice, nor does the author of this script make any claims about the effectiveness of this strategy, which may depend highly on the discretion and skill of the trader executing it, among many other factors outside of the author's control. The author of this script accepts no liability, and is not responsible for any trading decisions that you may or may not make as a result of this indicator. You should expect to lose money if using this indicator.
Previous Highs + Lows by HAZED📈 Introducing: Previous Highs + Lows by H A Z E D 📉
✨ Overview
Get a clear view of market levels with Previous Highs + Lows v1.0! This indicator lets you track critical previous highs and lows across multiple timeframes, marking them directly on your chart for an intuitive view of support and resistance zones. Whether you’re analyzing breakouts or looking for reversal levels, these indicators provide essential context to refine your trades.
🛠️ Key Features
Multiple Timeframes Supported
Toggle on previous highs and lows for daily, weekly, monthly, 4-hour, and 1-hour charts to match your analysis style.
Customizable Labels
Choose label sizes from “tiny” to “huge,” adjust the opacity to blend seamlessly with your chart, and customize text color for optimal readability.
Label Position Control
Avoid overlap with a flexible label offset feature, allowing for 10 adjustable increments to fit your preference and chart layout.
Clear Visual Cues
Labels use icons to differentiate high (⬆️) and low (⬇️) levels at a glance, providing a straightforward way to interpret key price areas.
Instant Alerts for Key Levels
Receive alerts when the price crosses over previous high levels, keeping you informed about potential breakout zones without constant chart-watching.
🚀 How to Use
Identify Key Levels: Quickly locate significant highs and lows from previous periods to define your support and resistance zones.
Set Alerts: Stay updated on market moves with built-in alerts when prices cross these critical levels.
Customize Your View: Use the various options to make this indicator uniquely yours – adjust label size, color, opacity, and position.
🔔 Why Use Previous Highs + Lows v1.0?
Enhanced visibility of critical levels saves you time by giving you a structured view of price action.
Customization features let you adapt the indicator to your personal style and chart setup.
Flexible alerts mean you can focus on other tasks without missing important price movements.
🔗 License: Mozilla Public License 2.0
© H A Z E D, 11/4/2024
Heikin Ashi & Swing Highs/LowsHeikin Ashi & Swing Highs/Lows
Indicator Description:
The "Heikin Ashi & Swing Highs/Lows" indicator combines Heikin Ashi candle analysis with the identification of significant swing highs and lows on the chart. This indicator is useful for traders looking to spot trend changes and key points in the market.
Key Features:
Heikin Ashi:
Calculation and Visualization: Utilizes the Heikin Ashi method to smooth out the candlestick chart, helping to visualize trends and reduce market noise. Heikin Ashi candles are calculated from the standard candles (Open, High, Low, Close) and are displayed on the chart with a green color for bullish signals and red for bearish signals.
Vertical Offset Adjustment: Provides options to adjust the vertical offset of the candles based on the selected timeframe, with specific adjustments for short, medium, long, and super-long periods.
Swing Highs/Lows:
Key Point Identification: Marks significant swing highs and lows on the chart using a configurable period. Swing highs are displayed in red and swing lows in green.
Candlestick Patterns: Detects and labels common candlestick patterns such as:
Hammer: A bullish candlestick pattern with a small body and a long lower wick.
Inverted Hammer: Similar to the Hammer, but with a long upper wick.
Bullish Engulfing: A two-candle pattern where a bullish candle completely engulfs a previous bearish candle.
Hanging Man: A bearish pattern with a small body and a long lower wick, appearing at the end of an uptrend.
Shooting Star: A bearish pattern with a small body and a long upper wick, appearing at the end of an uptrend.
Bearish Engulfing: A two-candle pattern where a bearish candle completely engulfs a previous bullish candle.
Settings:
Timeframe: Allows you to select the desired timeframe to adjust the Heikin Ashi candle analysis.
Vertical Offset: Customize the vertical offset of Heikin Ashi candles based on the selected timeframe.
Swing Point Style: Configure the colors of the significant swing highs and lows on the chart.
Recommended Use:
This indicator is ideal for traders looking for a clear representation of trends through Heikin Ashi candles and who want to identify key reversal points in the market by detecting swing highs/lows and candlestick patterns.
Benefits:
Facilitates the identification of smooth trends and trend reversals.
Provides a clear visual representation of critical market points.
Helps traders recognize important candlestick patterns that may indicate changes in market direction.
Ultra High/LowThe Ultra High/Low script helps traders track key price levels by automatically marking significant highs and lows on a chart, highlighting potential reversal points for future trading decisions.
Introduction
The Ultra High/Low script identifies and marks significant highs and lows on a trading chart. These are specific points where the price reached a peak or bottomed out before reversing. The script draws lines at these levels, which can be extended, and it also labels the exact price at these points. This makes it easy for traders to see where the price has changed direction previously, helping them make more informed trading decisions.
Detailed Description
In more detail, the Ultra High/Low script is designed using Pine Script™, a programming language used for creating custom indicators and strategies on the TradingView platform. Here's how it works:
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Detection of Pivot Highs and Lows
The script identifies "pivot highs" and "pivot lows." These are points on the chart where the price reached a local maximum or minimum, surrounded by lower highs (for pivot highs) or higher lows (for pivot lows).
The user can customize how many bars to the left and right of the high or low the script should consider to confirm a pivot (Length argument in the settings).
The script uses Pine Script functions for pivot detection. ta.pivothigh() and ta.pivotlow() .
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Drawing Lines and Labels
Once a pivot is identified, the script draws a dashed line from the pivot point to the current price bar. This line helps visualize where significant price reversals have occurred.
The script also adds a label next to these lines showing the exact price of the pivot point. This label also shows "PDH" (Previous Day High) or "PDL" (Previous Day Low) if the pivot is PDH or PDL. Same for "PWH" (Previous Week High) and "PWL" (Previous Week Low).
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Purging and Extending Lines
If the price crosses a pivot line after it has been drawn, the script can either delete the old line (purged line) or keep it and add additional indicators to show that the line has been liquidated.
The script also has options to extend the lines into the right.
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Custom Inputs
The script offers several customizable options, like the color of the lines and labels, whether to show the exact price or not, and whether to extend the lines. This allows traders to tailor the indicator to their specific needs and preferences.
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Overall, the Ultra High/Low script is a powerful visual aid for identifying critical price levels that may influence future price movements, making it easier for traders to make decisions based on historical price behavior.
Higher Timeframe High & Low [ChartPrime]The Higher Timeframe High & Low Indicator plots key levels (high, low, and average price) from a higher timeframe onto the current chart, aiding traders in identifying significant support and resistance zones.
The indicator also detects and labels breakout points and can display trend directions based on these higher timeframe levels breakout points.
Key Features:
◆ Higher Timeframe Levels:
Plots the high, low, and average price from a selected higher timeframe onto the current chart.
Extends these levels into the future for better visualization.
◆ Breakout Detection:
Identifies and labels breakouts above the higher timeframe high or below the higher timeframe low.
Breakout points are clearly marked with labels indicating "High Break" or "Low Break" with timeframe mark.
If the following break out type is the same that previous, it does not marked by labels, but still marked by bar color.
◆ Trend Visualization:
Optionally displays trend direction by changing bar colors and line styles based on breakout conditions.
Trend indication helps in identifying bullish or bearish market conditions.
◆ Support and Resistance Indication:
Marks support and resistance points with '◆' symbols when the current timeframe's high or low interacts with the higher timeframe's levels.
◆ Period separation:
Background color changes to indicate period separation if enabled.
◆ Inputs:
Extension to the right of High and Low: Sets the number of bars to extend the high and low lines into the future.
Timeframe: Selects the higher timeframe (e.g., Daily) to use for plotting high and low levels.
Period Separator: Toggles the visual separator for periods.
Show Trend?: Toggles the trend visualization, changing bar colors and plot styles based on breakouts.
Show Breakout Labels?: Toggles the Breakout Labels visualization.
Indicator Logic:
Historical vs. Real-Time Bars: Adjusts values based on whether the bar is historical or real-time to ensure accurate plotting.
High and Low Prices: Retrieves the high and low prices from the selected higher timeframe.
Breakout Conditions: Determines if the current price has crossed above the higher timeframe high (high break) or below the higher timeframe low (low break).
Color and Trend Logic: Adjusts colors and checks for breakouts to avoid multiple labels and indicate trend direction.
Usage Notes:
This indicator is ideal for traders looking to integrate multi-timeframe analysis into their strategy.
The higher timeframe levels act as significant support and resistance zones, helping traders identify potential reversal or continuation points.
The breakout labels and trend visualization provide additional context for trading decisions, indicating when the price has breached key levels and is likely to continue in that direction.
This indicator enhances chart analysis by providing clear, visual cues from higher timeframe data, helping traders make more informed decisions based on a broader market perspective.
BINANCE-BYBIT Cross Chart: Spot-Perpetual CorrelationName: "Binance-Bybit Cross Chart: Spot-Perpetual Correlation"
Category: Scalping, Trend Analysis
Timeframe: 1M, 5M, 30M, 1D (depending on the specific technique)
Technical analysis: This indicator facilitates a comparison between the price movements shown on the Binance spot chart and the Bybit perpetual chart, with the aim of discerning the correlation between the two charts and identifying the dominant market trends. It automatically generates the corresponding chart based on the ticker selected in the primary chart. When a Binance pair is selected in the main chart, the indicator replicates the Bybit perpetual chart for the same pair and timeframe, and vice versa, selecting the Bybit perpetual chart as the primary chart generates the Binance spot chart.
Suggested use: You can utilize this tool to conduct altcoin trading on Binance or Bybit, facilitating the comparison of price actions and real-time monitoring of trigger point sensitivity across both exchanges. We recommend prioritizing the Binance Spot chart in the main panel due to its typically longer historical data availability compared to Bybit.
The primary objective is to efficiently and automatically manage the following three aspects:
- Data history analysis for higher timeframes, leveraging the extensive historical data of the Binance spot market. Variations in indicators such as slow moving averages may arise due to differences in historical data between exchanges.
- Assessment of coin liquidity on both exchanges by observing candlestick consistency on smaller timeframes or the absence of gaps. In the crypto market, clean charts devoid of gaps indicate dominance and offer enhanced reliability.
- Identification of precise trigger point levels, including daily, previous day, or previous week highs and lows, which serve as sensitive areas for breakout or reversal operations.
All-Time High (ATH) and All-Time Low (ATL) levels may vary significantly across exchanges due to disparities in historical data series.
This tool empowers traders to make informed decisions by leveraging historical data, liquidity insights, and precise trigger point identification across Binance Spot and Bybit Perpetual market.
Configuration:
EMA length:
- EMA 1: Default 5, user configurable
- EMA 2: Default 10, user configurable
- EMA 3: Default 60, user configurable
- EMA 4: Default 223, user configurable
- Additional Average: Optional display of an additional average, such as a 20-period average.
Chart Elements:
- Session separator: Indicates the beginning of the current session (in blue)
- Background: Indicates an uptrend (60 > 223) with a green background and a downtrend (60 < 223) with a red background.
Instruments:
- EMA Daily: Shows daily averages on an intraday timeframe.
- EMA levels 1h - 30m: Shows the levels of the 1g-30m EMAs.
- EMA Levels Highest TF: Provides the option to select additional EMA levels from the major timeframes, customizable via the drop-down menu.
- "Hammer Detector: Marks hammers with a green triangle and inverted hammers with a red triangle on the chart
- "Azzeramento" signal on TF > 30m: Indicates a small candlestick on the EMA after a dump.
- "No Fomo" signal on TF < 30m: Indicates a hyperextended movement.
Trigger Points:
- Today's highs and lows: Shows the opening price of the day's candlestick, along with the day's highs and lows (high in purple, low in red, open in green).
- Yesterday's highs and lows: Displays the opening price of the daily candlestick, along with the previous day's highs and lows (high in yellow, low in red).
You can customize the colors in "Settings" > "Style".
It is best used with the Scalping The Bull indicator on the main panel.
Credits:
@tumiza999: for tests and suggestions.
Thanks for your attention, happy to support the TradingView community.
[TTI] High Volume Close (HVC) Setup📜 ––––HISTORY & CREDITS––––
The High Volume Close (HVC) Setup is a specialised indicator designed for the TradingView platform used to identify specific bar. This tool was developed with the objective of identifying a technical pattern that trades have claimed is significant trading opportunities through a unique blend of volume analysis and price action strategies. It is based on the premise that high-volume bars, when combined with specific price action criteria, can signal key market movements.
The HVC is applicable both for swing and longer term trading and as a technical tool it can be used by traders of any asset type (stocks, ETF, crypto, forex etc).
🦄 –––UNIQUENESS–––
The uniqueness of the HVC Setup lies in its flexibility to determine an important price level based on historically important bar. The idea is to identify significant bars (e.g. those who have created the HIGHEST VOLUME: Ever, Yearly, Quarterly and meet additional criteria from the settings) and plot on the chart the close on that day as a significant level as well as theoretical stop loss and target levels. This approach allows traders to discern high volume bars that are contextually significant — a method not commonly found in standard trading tools.
🎯 ––––WHAT IT DOES––––
The HVC Setup indicator performs a series of calculations to identify high volume close bars/bar (HVC bars) based on the user requirements.
These bars are determined based on the highest volume recorded within a user-inputs:
👉 Period (Ever, Yearly, Quarterly) and must meet additional criteria such as:
👉 a minimum percentage Price Change (change is calculated based on a close/close) and
👉 specific Closing Range requirements for the HVC da.
The theory is that this is a significant bar that is important to know where it is on the chart.
The script includes a comparative analysis of the HVC bar's price against historical price highs (all-time, yearly, quarterly), which provides further context and significance to the identified bars. All of these USER input requirement are then taken into account as a condition to identity the High Volume Close Bar (HVC).
The visual representation includes color-coded bar (default is yellow) and lines to delineate these key trading signals. It then draws a blue line for the place where the close ofthe bar is, a red line that would signify a stop loss and 2 target profit levels equal to 2R and 3R of the risked level (close-stop loss). Additional lines can be turned on/off with their coresponding checkboxes in the settings.
If the user chooses "Ever" for Period - the script will look at the first available bar ever in Tradingview - this is generally the IPO bar;
If the users chooses "Yearly" - the script would look at the highest available bar for a completed year;
If the users chooses "Quarterly" - it would do the same for the quarter. (works on daily timeframe only);
While we have not backtested the performance of the script, this methodology has been widely publicised.
🛠️ ––––HOW TO USE IT––––
To utilize the HVC Setup effectively:
👉Customize Input Settings: Choose the HVC period, percentage change threshold, closing range, stop loss distance, and target multiples according to your trading strategy. Use the tick boxes to enable and disable if a given condition is used within the calculation.
👉Identify HVC Bars: The script highlights HVC bars, indicating potential opportunities based on volume and price action analysis.
👉Interpret Targets and Stop Losses: Use the color-coded lines (green for targets, red for stop losses) to guide your trade entries and exits.
👉Contextual Analysis: Always consider the HVC bar signals in conjunction with overall market trends and additional technical indicators for comprehensive trading decisions.
This script is designed to assist traders in identifying high-potential trading setups by using a combination of volume and price analysis, enhancing traditional methods with a unique, algorithmically driven approach.
Prior Day LevelsA simple script that plots the previous day's high, midway, and low points. You can also set alerts with this script, allowing you the ability to not have to stare at the charts all day.
[ttcHugo] 3 Days OPEN/HIGH/LOW LINES It's a simple and basic tool for OPEN/HIGH/LOW lines in each day of recently 3 days. I will build more tools in the future. If you find it is useful for you please follow me and have any advise please contact me thank you.
ATH Drawdown Indicator by Atilla YurtsevenThe ATH (All-Time High) Drawdown Indicator, developed by Atilla Yurtseven, is an essential tool for traders and investors who seek to understand the current price position in relation to historical peaks. This indicator is especially useful in volatile markets like cryptocurrencies and stocks, offering insights into potential buy or sell opportunities based on historical price action.
This indicator is suitable for long-term investors. It shows the average value loss of a price. However, it's important to remember that this indicator only displays statistics based on past price movements. The price of a stock can remain cheap for many years.
1. Utility of the Indicator:
The ATH Drawdown Indicator provides a clear view of how far the current price is from its all-time high. This is particularly beneficial in assessing the magnitude of a pullback or retracement from peak levels. By understanding these levels, traders can gauge market sentiment and make informed decisions about entry and exit points.
2. Risk Management:
This indicator aids in risk management by highlighting significant drawdowns from the ATH. Traders can use this information to adjust their position sizes or set stop-loss orders more effectively. For instance, entering trades when the price is significantly below the ATH could indicate a higher potential for recovery, while a minimal drawdown from the ATH may suggest caution due to potential overvaluation.
3. Indicator Functionality:
The indicator calculates the percentage drawdown from the ATH for each trading period. It can display this data either as a line graph or overlaid on candles, based on user preference. Horizontal lines at -25%, -50%, -75%, and -100% drawdown levels offer quick visual cues for significant price levels. The color-coding of candles further aids in visualizing bullish or bearish trends in the context of ATH drawdowns.
4. ATH Level Indicator (0 Level):
A unique feature of this indicator is the 0 level, which signifies that the price is currently at its all-time high. This level is a critical reference point for understanding the market's peak performance.
5. Mean Line Indicator:
Additionally, this indicator includes a 'Mean Line', representing the average percentage drawdown from the ATH. This average is calculated over more than a thousand past bars, leveraging the law of large numbers to provide a reliable mean value. This mean line is instrumental in understanding the typical market behavior in relation to the ATH.
Disclaimer:
Please note that this ATH Drawdown Indicator by Atilla Yurtseven is provided as an open-source tool for educational purposes only. It should not be construed as investment advice. Users should conduct their own research and consult a financial advisor before making any investment decisions. The creator of this indicator bears no responsibility for any trading losses incurred using this tool.
Please remember to follow and comment!
Trade smart, stay safe
Atilla Yurtseven
Zigzag Chart Points█ OVERVIEW
This indicator displays zigzag based on high and low using latest pine script version 5 , chart.point which using time, index and price as parameters.
Pretty much a strip down using latest pine script function, without any use of library .
This allow pine script user to have an idea of simplified and cleaner code for zigzag.
█ CREDITS
LonesomeTheBlue
█ FEATURES
1. Label can be show / hide including text can be resized.
2. Hover to label, can see tooltip will show price and time.
3. Tooltip will show date and time for hourly timeframe and below while show date only for day timeframe and above.
█ NOTES
1. I admit that chart.point just made the code much more cleaner and save more time. I previously using user-defined type(UDT) which quite hassle.
2. I have no plan to extend this indicator or include alert just I thinking to explore log.error() and runtime.error() , which I may probably release in other publications.
█ HOW TO USE'
Pretty much similar inside mentioned references, which previously I created.
█ REFERENCES
1. Zigzag Array Experimental
2. Simple Zigzag UDT
3. Zig Zag Ratio Simplified
4. Cyclic RSI High Low With Noise Filter
5. Auto AB=CD 1 to 1 Ratio Experimental
YDH/YDL to Current Day H/L - Zones- Draw boxes on the intersections between yesterday's high/low and the day's after high/low
This will help you to visualize areas at extreme points where algo hasn't yet pushed price to recover them
OHMLC Lines - Present- Current OHMLC candles
- Show current Open, High, Mid, Low, Close candles levels
Monday Session High/LowThis script tracks and draw the High and the Low for Monday session across the whole week period.
Many crypto traders use the high and low extremes for Monday session as an confluence on how the price action during the week reacts against it.
Daily Monday Weekly Monthly Quarterly Yearly High Low Mid This indicator can be useful for traders who are interested in analyzing price movements over different time periods. By displaying the daily, Monday, weekly, monthly, quarterly, and yearly high and low values along with their mid values on a chart, traders can get a better understanding of how prices have behaved over longer periods of time.
For example, a trader might use this information to identify trends or patterns in the market. They might look for occasions when the daily high and low values move outside of an established range or when the weekly or monthly mid values cross certain key levels. This could signal a potential change in the market trend that the trader could act upon.
Additionally, the code can help traders identify key support and resistance levels based on the high and low values of the candles. By plotting these values on a chart, traders can see where prices tend to find support or resistance over different time periods. This information can be used to place stop loss orders or take profit orders at important levels.
Overall, the benefit of using the code you provided is that it offers traders a comprehensive view of price movements over different time periods, which can aid in making more informed trading decisions.
Each level described above has its own unique label, which is abbreviated for convenience. These abbreviations are listed below for quick reference:
For daily levels: DH (Daily High), DM (Daily Mid), and DL (Daily Low)
For Monday levels: MonH (Monday High), MonM (Monday Mid), and MonL (Monday Low)
For monthly levels: MH (Monthly High), MU50 (Monthly 50 percent of Mid and High), MM (Monthly Mid), MD50 (Monthly 50 percent of Mid and Low), and ML (Monthly Low)
For quarterly levels: 3MH (Quarterly High), 3MU50 (Quarterly 50 percent of Mid and High), 3MM (Quarterly Mid), 3MD50 (Quarterly 50 percent of Mid and Low), and 3ML (Quarterly Low)
For yearly levels: YH (Yearly High), YU50 (Yearly 50 percent of Mid and High), YM (Yearly Mid), YD50 (Yearly 50 percent of Mid and Low), and YL (Yearly Low)
These labels can help you quickly identify the different levels and keep track of important price points.
If the chosen timeframe does not fall under the category of intraday, daily and Monday level will not be displayed.
Please feel free to send your suggestions to @z_mehran.
MonkeyblackmailThis script consists of several sections. test it and tell me your concerns. a lot of more works will be done
Volume Accumulation : The first part of the script checks for a new 5-minute interval and accumulates the volume of the current interval. It separates the volume into buying volume and selling volume based on whether the closing price is closer to the high or low of the bar.
Volume Normalization and Pressure Calculation : The script then normalizes the volume with a 20-period EMA, and calculates buying pressure, selling pressure, and total pressure. These calculations provide insight into the underlying demand (buying pressure) and supply (selling pressure) conditions in the market.
RSI Calculation and Overbought/Oversold Conditions : The script calculates the RSI (Relative Strength Index) and checks whether it is in an overbought (RSI > 70) or oversold (RSI < 30) state. The RSI is a momentum indicator, providing insights into the speed and change of price movements.
Volume Condition Check and Wondertrend Indicator : The script checks if the volume is high for the past five bars. If it is, it applies the Wondertrend Indicator, which uses a combination of the Parabolic SAR (Stop and Reverse) and Keltner Channel to identify potential trends in the market.
Swing High/Low and Fibonacci Retracement : The script identifies swing high and swing low points using a specified pivot length. Then, it draws Fibonacci retracement levels between these swing high and swing low points.
he monkeyblackmail script works well in the 5 minutes chart and combines several elements of technical analysis, including volume analysis, momentum indicators, trend-following indicators, volatility channels, and Fibonacci retracements. It aims to provide a comprehensive view of the market condition, highlighting key levels and potential trends in an easily understandable format. Don’t be too quick to start trading with it, first study how it work and you will blackmail the market.
Key Levels (Open, Premarket, & Yesterday)OVERVIEW
This indicator automatically identifies and draws recent high-probability support and resistance levels (recent key levels). Specifically, yesterdays highs / lows, premarket highs / lows, as well as yesterdays end of day Volume Weighted Average Price and trader specified Moving Average.
This is most useful on charts with intraday time frames (1 minute, 5 minute etc.) commonly used for day trading. This is not ideal for larger time frames (greater than 1 hour) commonly used for swing trading or identifying larger trends.
INPUTS
You can configure:
Line size, style, and colors
Label colors
Which key levels you want to see
Moving Average Parameters
Market Hours and Time Zone
DEV NOTES
This script illustrates:
A method for iterative management of more complex data objects (not just discrete values) with loops and arrays.
