IMGCore - V1.0IMG Core uses five sequential stages to analyse price action and alert users to potential Trade Setups using various Price Action Concepts as detailed below:
1. Identify Higher Timeframe Market Structure and Points of Interest (HTF-POIs)
2. Calculate position size based on your risk appetite, fees and account leverage and customisable maximum trade risk
3. Alert you to risk managed trade setups at enabled HTF-POIs
4. Alert you to trade exits based on your set criteria
5. Provide Additional Alerts such as Higher Timeframe SFPs and Market Structure Breaks that act as potential early warnings that a trade setup may be forming
1. HTF POIs Available with IMG CORE:
a. HTF Market Structure Range Highs and Lows
b. HTF Order Blocks
c. HTF Breakers
d. HTF FVGs
a. Higher Timeframe Market Structure Range High and Low through Multiple Timeframe Analysis:
Market Structure can be defined using several techniques. The IMG indicators employ the Close through High/Low technique, which necessitates a candle to close through a structural level to validate a structural break and designate a new range.
Example: H12 Market Structure visualisation on a H12 Chart with annotations:
By selecting a particular Market Structure timeframe in the settings, the indicator immediately illustrates both current and historical market structures for the chosen timeframe across all subordinate timeframes, subject to the limitations of your Tradingview subscription.
Example: H12 Market Structure visualisation on a H1 Chart with annotations:
b. Higher Timeframe Order Blocks
An Order Block represents the last candle of the opposite direction preceding a Market Structure Break. For instance, a bullish Order Block is identified as the final bearish candle leading to a bullish market structure break, and vice versa for bearish Order Blocks.
Example: H12 OB visualisation on a H12 Chart with annotations:
When activated, the indicator will highlight the Higher Timeframe Order Blocks responsible for a Market Structure Break on all subordinate timeframes relative to the chosen Market Structure Timeframe.
Note: if multiple OBs exist, the indicator will display the OB closest to the new range extreme
Example: H12 OB visualisation on a H1 Chart with annotations:
c. Higher Timeframe Breakers
A Breaker Block is identified as the most recent Order Block that has been breached by price, leading to an opposite Market Structure Break. For example, a bullish Breaker Block is the last bearish Order Block that price has passed through, confirming a bullish structural break, and the inverse is true for bearish Breakers.
Example: H12 Breaker visualisation on a H12 Chart with annotations:
Once enabled, the system will display Higher Timeframe Breaker Blocks after an opposite Market Structure Break is confirmed on all subordinate timeframes.
Example: H12 Breaker visualisation on a H1 Chart with annotations:
d. Higher Timeframe Fair Value Gaps (FVGs)
A Fair Value Gap is a concept used by price action traders to identify market inefficiencies, where buying and selling are not balanced. It appears on a chart as a triple-candle pattern, with a large candle flanked by two others whose highs and lows do not overlap with the large candle, creating a gap. This gap often attracts the price towards it before the market resumes its previous direction.
Example of the indicator displaying a Higher Timeframe’s FVGs on a Lower Timeframe (LTF) chart:
-The upper chart labelled H12/H12 is the indicator displaying H12 Structure and FVGs on a H12 chart.
-The lower chart labelled H12/H1 is the indicator displaying H12 FVGs on a H1 chart
2. Risk Management and Position Sizing:
a. Automated Position Sizing:
The System will automatically calculate position size based on the account size, max leverage and risk appetite (capital risk per trade) details input in settings. Calculated trade details are included in the Tradingview Alerts as well as interactive labels on the charts.
Details include but are not limited to:
Trade Timeframe
Side: Long/Short
Type: Limit/Market
Position Size in $ and Units
Lot sizes if applicable
Trade Risk %
Take Profit Level
Entry Price
Stoploss Price
b. Maximum Trade Risk:
IMG Core has the ability to invalidate potential trade entries if it exceeds your maximum Trade Risk threshold. Trade Risk is the % price difference between entry and stoploss.
When an invalid signal is generated, the signal will not be shaded and the interactive label will display the reason for invalidation
In the example below, Max Trade Risk is set to 2% , but the trade signal had a trade risk of 5.11% , invalidating the signal with a grey triangle
3. Trade Setup Types Available with IMG CORE:
The system will alert you to potential trade setups at these HTF POIs: .
a. Higher Timeframe (HTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at Range Extremes
b. Higher Timeframe (HTF) Swing Failure followed by a Higher Timeframe (HTF) MSB at enabled HTF POIs
c. Lower Timeframe (LTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at enabled HTF POIs
d. Multiple LTF Entry Options once a signal is confirmed
a. HTF Swing Failure followed by a Lower Timeframe (LTF) MSB at Range Extremes
A Swing Failure Pattern (SFP) is a technical analysis concept used in trading to identify potential reversals in price trends. It occurs when the price attempts to surpass a previous high or low but fails to sustain that level, indicating a possible change in market direction. There are multiple methods to define a SFP but this indicator uses the failure to close through a Key Level. When confirmed, HTF SFPs will be displayed on-screen and an alert will fire if enabled.
Example: H12 SFPs at Range Extremes on a H1 Chart:
Alerts to Enter at Lower Timeframe MSBs
When enabled, a potential trade setup label and alert will generate when a HTF SFP is confirmed at a Range Extreme followed by a Chart Timeframe (Lower Timeframe) Market Structure Break (MSB). These signals are agnostic to current Market Structure bias and will generate at both extremes.
b. HTF Swing Failure followed by a Lower Timeframe (LTF) MSB at HTF POIs:
When enabled, a potential trade setup label and alert will generate when a HTF SFP is confirmed at an enabled Higher Timeframe POI (Order Blocks / Breakers / FVGs) followed by a Chart Timeframe (Lower Timeframe) Market Structure Break (MSB). These signals are always in line current Market Structure bias.
Example: H12 SFPs and Trade Setups at HTF POIs with Fluid Exits on a H1 Chart:
c. LTF Swing Failure followed by a LTF MSB at Range Extremes at enabled HTF POIs
The system will alert you to a lower timeframe setup if these conditions are met inside enabled HTF POIs (OBs / Breakers / FVGs):
- LTF SFP
- LTF MSB
Signals will alert you to enter a Limit Entry at the LTF MSB Level OR LTF Breaker
Example:
d. LTF Entry Options:
IMG CORE provides the following options for LTF Entries:
i. Limit Entry at Lower Timeframe MSB Levels
ii. Limit Entry at Lower Timeframe Breakers
Based on this selection, the trade setup alert will provide entry price details to set limit orders at the MSB level or LTF Breaker High.
4. Trade Exit Types Available with IMG CORE:
The system provides the following options for trade exit alerts:
i. User defined Risk to Reward (R:R)
ii. On a confirmed Opposite Signal (Fluid Exits)
Example: H12 Long Entry and Exit Signal using Fluid Exits H1 Chart:
5. IMG CORE Alerts Overview
The system provides notifications of:
1. Confirmed HTF Market Structure Breaks
2. Confirmed HTF SFPs at Range Extremes
3. Confirmed HTF SFPs at HTF POIs
4. Potential Trade Setups at Range Extremes
5. Potential Trade Setups at HTF Points of Interest (HTF-LTF and LTF-LTF)
6. Fixed R Trade Exits
7. Exit on Opposing Signals (Fluid Exits)
To enable alerts, right-click on the indicator and select “Add Alert on IMG ...”. You may customise the alert name as desired and then click 'Create' to finalise the alert setup.
General Note:
There is no system, indicator, algorithm, or strategy that can provide absolute certainty in predicting market movements. Use trading indicators as a tool to assist with trading decisions; manage your risk wisely.
Stay safe and Happy Trading!
Pivot Point dan Level
IMGLite - V1.0IMG indicators use five sequential stages to analyse price and alert users to potential Trade Setups using various Price Action Concepts as detailed below:
a. Identify Higher Timeframe Market Structure and Points of Interest (HTF-POIs)
b. Calculate position size based on your risk appetite, fees and account leverage
c. Alert you to risk managed trade setups at enabled HTF-POIs
d. Alert you to trade exits based on your set criteria
e. Provide Additional Alerts such as Higher Timeframe SFPs and Market Structure Breaks that act as potential early warnings that a trade setup may be forming
a. HTF POIs Available with IMG LITE:
1. HTF Market Structure Range Highs and Lows
2. HTF Order Blocks
3. HTF Breakers
4. HTF FVGs
1. Higher Timeframe Market Structure Range High and Low through Multiple Timeframe Analysis:
Market Structure can be defined using several techniques. The IMG indicators employ the Close through High/Low technique, which necessitates a candle to close through a structural level to validate a structural break and designate a new range.
Example: H12 Market Structure visualisation on a H12 Chart with annotations:
By selecting a particular Market Structure timeframe in the settings, the indicator immediately illustrates both current and historical market structures for the chosen timeframe across all subordinate timeframes, subject to the limitations of your Tradingview subscription.
Example: H12 Market Structure visualisation on a H1 Chart with annotations:
2. Higher Timeframe Order Blocks
An Order Block represents the last candle of the opposite direction preceding a Market Structure Break. For instance, a bullish Order Block is identified as the final bearish candle leading to a bullish market structure break, and vice versa for bearish Order Blocks.
Example: H12 OB visualisation on a H12 Chart with annotations:
When activated, the indicator will highlight the Higher Timeframe Order Blocks responsible for a Market Structure Break on all subordinate timeframes relative to the chosen Market Structure Timeframe.
Note: if multiple OBs exist, the indicator will display the OB closest to the new range extreme
Example: H12 OB visualisation on a H1 Chart with annotations:
Higher Timeframe Breakers
A Breaker Block is identified as the most recent Order Block that has been breached by price, leading to an opposite Market Structure Break. For example, a bullish Breaker Block is the last bearish Order Block that price has passed through, confirming a bullish structural break, and the inverse is true for bearish Breakers.
Example: H12 Breaker visualisation on a H12 Chart with annotations:
Once enabled, the system will display Higher Timeframe Breaker Blocks after an opposite Market Structure Break is confirmed on all subordinate timeframes.
Example: H12 Breaker visualisation on a H1 Chart with annotations:
Higher Timeframe Fair Value Gaps (FVGs)
A Fair Value Gap is a concept used by price action traders to identify market inefficiencies, where buying and selling are not balanced. It appears on a chart as a triple-candle pattern, with a large candle flanked by two others whose highs and lows do not overlap with the large candle, creating a gap. This gap often attracts the price towards it before the market resumes its previous direction.
Example of the indicator displaying a Higher Timeframe’s FVGs on a Lower Timeframe (LTF) chart:
-The upper chart labelled H12/H12 is the indicator displaying H12 Structure and FVGs on a H12 chart.
-The lower chart labelled H12/H1 is the indicator displaying H12 FVGs on a H1 chart
b. Risk Management and Position Sizing:
The System will automatically calculate position size based on the account size, max leverage and risk appetite details input in settings. Calculated trade details are included in the Tradingview Alerts as well as interactive labels on the charts.
Details include but are not limited to:
Trade Timeframe
Side: Long/Short
Type: Limit/Market
Position Size in $ and Units
Lot sizes if applicable
Trade Risk %
Take Profit Level
Entry Price
Stoploss Price
c. Trade Setup Types Available with IMG LITE:
The system will alert you to potential trade setups at these HTF POIs: .
1. Higher Timeframe (HTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at Range Extremes
2. Lower Timeframe (LTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at enabled HTF POIs
1. HTF Swing Failure followed by a Lower Timeframe (LTF) MSB at Range Extremes
A Swing Failure Pattern (SFP) is a technical analysis concept used in trading to identify potential reversals in price trends. It occurs when the price attempts to surpass a previous high or low but fails to sustain that level, indicating a possible change in market direction. There are multiple methods to define a SFP but this indicator uses the failure to close through a Key Level. When confirmed, HTF SFPs will be displayed on-screen and an alert will fire if enabled.
Example: H12 SFPs at Range Extremes on a H1 Chart:
Alerts to Enter at Lower Timeframe MSBs
When enabled, a potential trade setup label and alert will generate when a HTF SFP is confirmed at a Range Extreme followed by a Chart Timeframe (Lower Timeframe) Market Structure Break (MSB). These signals are agnostic to current Market Structure bias and will generate at both extremes.
Signals will alert you to enter a Limit Entry at the Lower Timeframe MSB Level
2. LTF Swing Failure followed by a LTF MSB at Range Extremes at enabled HTF POIs
The system will alert you to a lower timeframe setup if these conditions are met inside enabled HTF POIs (OBs / Breakers / FVGs):
- LTF SFP
- LTF MSB
Signals will alert you to enter a Limit Entry at the Lower Timeframe MSB Level
Example:
d. Trade Exit Types Available with IMG Lite:
Exit alerts will trigger at user defined R:R
Example: H12 SFPs and Potential Trade Setups with Exits at fixed 2R on a H1 Chart:
e. IMG LITE Alerts Overview
Higher Timeframe Market Structure Breaks (HTF MSBs)
The system provides notifications of confirmed Market Structure Breaks based on the selected Higher Timeframe Market Structure Timeframe. For instance, selecting a weekly structure will trigger an alert when weekly price closes through a weekly structural level, and the same logic applies to other timeframes like D, H12, H4, H1 etc.
The system provides notifications of:
1. Confirmed HTF Market Structure Breaks
2. Confirmed HTF SFPs at Range Extremes
3. Potential Trade Setups (defined above)
4. Fixed R Trade Exits
To enable alerts, right-click on the indicator and select “Add Alert on IMG ...”. You may customise the alert name as desired and then click 'Create' to finalise the alert setup.
General Note:
There is no system, indicator, algorithm, or strategy that can provide absolute certainty in predicting market movements. Use trading indicators as a tool to assist with trading decisions; manage your risk wisely.
Stay safe and Happy Trading!
CANDLE LEVELS [PRO]This indicator provides you with 55 levels! with labels to help you identify quickly where current price is in relation to the OPEN, CLOSE, HIGH OF DAY and LOW OF DAY to a respective level. Choose from levels as low as the 5 minute time frame all the way up to 200 days. All of the levels except the day's OPEN, HIGH OF DAY AND LOW OF DAY use the PREVIOUS time frame's level. In other words, when you're looking at the "1 DAY HIGH", that's actually the previous day's HIGH OF DAY. Whether you're a scalper on the lower time frames or a swing trader that mainly uses the 1 hour and above, these candle levels can be an invaluable source of support and resistance; in other words you'll often see price bounce off of a level (whether price is increasing or decreasing) once or multiple times and that could be an indication of a price's direction. Another way that you could utilize this indicator is to use it in confluence with other popular signals, such as an EMA crossover. For instance, you could watch as price rises above the 21 EMA all the while price is also crossing up and over the previous day's HIGH OF DAY with a relative volume that's double that of the previous week's average. These are just a few of some potential bullish signals that you could look for to go long on a trade using the candle levels provided.
I've made this indicator extremely customizable:
⚡Each level has 2 labels: 1 "at level" and 1 "at right", each label and price can be disabled
⚡Each label has its own input for label padding. The "at right" label padding input allows you to zoom in and out of a chart without the labels moving along their respective axis
⚡Each label's text can be customized via an "input.string" code base
⚡Each level's label can be changed via a plot style setting to determine if the label is centered with it's respective level or rides along the top of it
⚡Significant figures input allows you to round price up or down
⚡A "bias EMA" tool that color codes the candles and price line to show you where price is in relation to the 21 EMA (or another value that you pick). As a result, this can be an effective visual to help reduce cognitive load
⚡A "fill level" where color is determined by price opening above or below the previous day's close
⚡A "use current close" setting that's great to use in pre-market as it shows you where price is in relation to the previous days' close
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🙏Thanks to (c)satymahajan for the inspiration behind the ATR "previous close" and "bias candle" code base
🙏Thanks to my mentor (c)SimpleCryptoLife for the libraries and extensive code to help create this indicator
VWAP LEVELS [PRO]32 VWAP levels with labels and a table to help you identify quickly where current price is in relation to your favorite VWAP pivot levels. To help reduce cognitive load, 4 colors are used to show you where price is in relation to a VWAP level as well as the strength of that respective level. Ultimately, VWAP can be an invaluable source of support and resistance; in other words you'll often see price bounce off of a level (whether price is increasing or decreasing) once or multiple times and that could be an indication of a price's direction. Another way that you could utilize this indicator is to use it in confluence with other popular signals, such as an EMA crossover. Many traders will wait till a bar's close on the 5m or 10m time frame above a VWAP level (developing 1D VWAP would be a popular choice) before making a decision on a potential trade especially if price is rising above the 1D VWAP *and* there's been a recent 100 EMA cross UP of the 200 EMA. These are 2 bullish signals that you could look for before possibly entering in to a trade.
I've made this indicator extremely customizable:
⚡Each VWAP level has 2 labels: 1 "at level" and 1 "at right", each label and price can be disabled
⚡Each VWAP label has its own input for label padding. The "at right" label padding input allows you to zoom in and out of a chart without the labels moving along their respective axis. However, the "at level" label padding input doesn't work the same way once you move the label out of the "0" input. The label will move slightly when you zoom in and out
⚡Both "current" and "previous" VWAP levels have their own plot style that can be changed from circles, crosses and lines
⚡Significant figures input allows you to round a price up or down
⚡A price line that allows you to identify where price is in relation to a VWAP level
⚡A table that's color coded the same way as the labels. The labels and table cells change to 1 of 4 colors when "OC Check Mode" is enabled. This theory examines if the VWAP from the Open is above or below the VWAP from Close and if price is above or below normal VWAP (HLC3). This way we have 4 states:
Red = Strong Downtrend
Light Red = Weak Downtrend
Light = Weak Uptrend
Green = Strong Uptrend
Something to keep in mind: At the start of a new year, week or month, some levels will converge and they'll eventually diverge slowly or quickly depending on the level and/or time frame. You could add a few labels "at level" to show which levels are converging at the time. Since we're at the beginning of a new year, you'll see current month, 2 month, 3 month etc converge in to one level.
🙏Thanks to (c)MartinWeb for the inspiration behind this indicator.
🙏Thanks to (c)SimpleCryptoLife for the libraries and code to help create the labels.
SandTigerSandTiger is an auto-counting tool that counts naturally occurring events in a price series. This version has been reduced to 377 lines of code and should run faster than previous versions. Although not shown here, I highly recommend running my 'ELB' script with SandTiger. ELB is an 'event locator' and will mark all points that SandTiger numbers - giving you visual cues as to where these points are located. ELB also displays support/resistance levels.
SandTiger is designed to be used with MAGENTA - a counting system for Forex and other markets.
MAGENTA is a free and open framework for understanding and explaining price movement in financial markets. Any materials associated with MAGENTA are strictly for educational purposes only.
SandTiger tracks Component Values, Dyads, and Sum Table Values (STV's) over straight and curved trends, allowing a trader to discern where directional shifts are likely to occur.
SandTiger requires just 3 things to function accurately:
1) A correct starting point (this will typically be an obvious trend turn high or low in a series of price moves).
2) A 'push 1' count ('push 1' runs from the starting point to the event prior to the first terminal of the first FCT or Fractured Counter-Trend).
3) A 'high prime' value (the high prime count runs from the starting point through to the second terminal of the first FCT with no skips).
FRAMEWORK OVERVIEW: 'Component' values are filtered from the prime set (including the half prime and further reductions). Once we have the comp table we add the values to get a 'total'. With the 'total' we divide and multiply by two to get two additional values. 'Derivatives' are based on various calculations using these three values.
We're looking for 'total/2' to count into either itself, 'total', 'total*2', or a derivative. Comp counts are in Tx form and counted from trend start. If the trend doesn't turn on a comp value it will likely turn on a Dyad or STV value. If that also doesn't happen it's likely you have a 'curved' trend/sequence that will turn on one of the above after moving away from its high/low. This can also be traded using SandTiger's 'Seg Terminals' skip option.
Sum tables and Dyad values are drawn from the 'primes' and Dyads use the 'push1' value as well. In a structural trend, primes are gotten by counting pushpulls 1 & 2 in 'Ti' form. Comps, Sum table values, and Dyads are equivalent, sequences can turn on either value type belonging to the 1st or 2nd prime set. Both STV's and Dyads are counted in 'Tx' form (except where count-through signals occur).
Types and antitypes correlate and are associated with a 12-count 'cycle.' (Ti = 'Terminals Included'; Tx = 'Terminals eXcluded'; both refer to FCT terminals)
THE STRATEGY:
For Structures: Trade Comps, Dyads, and STV's from sets 1 (all) and 2 (Dyads and STV's only) in the 'main' segment then on the 'carry-over' by skipping segment terminals. If a PC or cycle caps the sequence, trade that as well.
For NSM's: Trade movements that flash a signal prior to the end of the initial cycle. The mark will be the push1 value. Twelve will be the 'high prime.' Skip interrupts and trade carry-over values.
The first version of SandTiger was conceived/planned/authored by Erek A.D. and coded by Erek A.D. and @SimpleCryptoLife beginning in August 2022 and finishing in Dec. 2022
The current version was written and developed July 3, 2023 and has been refined and upgraded by Erek A.D. through Jan. 2024...
Pivot Percentile Trend - Strategy [presentTrading]
█ Introduction and How it is Different
The "Pivot Percentile Trend - Strategy" from PresentTrading represents a paradigm shift in technical trading strategies. What sets this strategy apart is its innovative use of pivot percentiles, a method that goes beyond traditional indicator-based analyses. Unlike standard strategies that might depend on single-dimensional signals, this approach takes a multi-layered view of market movements, blending percentile calculations with SuperTrend indicators for a more nuanced and dynamic market analysis.
This strategy stands out for its ability to process multiple data points across various timeframes and pivot lengths, thereby capturing a broader and more detailed picture of market trends. It's not just about following the price; it's about understanding its position in the context of recent historical highs and lows, offering a more profound insight into potential market movements.
BTC 6h L/S
Where traditional methods might react to market changes, the Pivot Percentile Trend strategy anticipates them, using a calculated approach to identify trend strengths and weaknesses. This foresight gives traders a significant advantage, allowing for more strategic decision-making and potentially increasing the chances of successful trades.
In essence, this strategy introduces a more comprehensive and proactive approach to trading, harnessing the power of advanced percentile calculations combined with the robustness of SuperTrend indicators. It's a strategy designed for traders who seek a deeper understanding of market dynamics and a more calculated approach to their trading decisions.
Local picture
█ Strategy, How It Works: Detailed Explanation
🔶 Percentile Calculations
- The strategy employs percentile calculations to assess the relative position of current market prices against historical data.
- For a set of lengths (e.g., `length * 1`, `length * 2`, up to `length * 7`), it calculates the 75th percentile for high values (`percentilesHigh`) and the 25th percentile for low values (`percentilesLow`).
- These percentiles provide a sense of where the current price stands compared to recent price ranges.
Length - 10
Length - 15
🔶 SuperTrend Indicator
- The SuperTrend indicator is a key component, providing trend direction signals.
- It uses the `currentTrendValue`, derived from the difference between bull and bear strengths calculated from the percentile data.
* used the Supertrend toolkit by @EliCobra
🔶 Trend Strength Counts
- The strategy calculates counts of bullish and bearish indicators based on comparisons between the current high and low against high and low percentiles.
- `countBull` and `countBear` track the number of times the current high is above the high percentiles and the current low is below the low percentiles, respectively.
- Weak bullish (`weakBullCount`) and bearish (`weakBearCount`) counts are also determined by how often the current lows and highs fall within the percentile range.
*The idea of this strength counts mainly comes from 'Trend Strength Over Time' @federalTacos5392b
🔶 Trend Value Calculation
- The `currentTrendValue` is a crucial metric, computed as `bullStrength - bearStrength`.
- It indicates the market's trend direction, where a positive value suggests a bullish trend and a negative value indicates a bearish trend.
🔶 Trade Entry and Exit Logic
- The entry points for trades are determined by the combination of the trend value and the direction indicated by the SuperTrend indicator.
- For a long entry (`shouldEnterLong`), the `currentTrendValue` must be positive and the SuperTrend indicator should show a downtrend.
- Conversely, for a short entry (`shouldEnterShort`), the `currentTrendValue` should be negative with the SuperTrend indicating an uptrend.
- The strategy closes positions when these conditions reverse.
█ Trade Direction
The strategy is versatile, allowing traders to choose their preferred trading direction: long, short, or both. This flexibility enables traders to tailor their strategies to their market outlook and risk appetite.
█ Default Settings and Customization
1. Trade Direction: Selectable as Long, Short, or Both, affecting the type of trades executed.
2. Indicator Source: Pivot Percentile Calculations, key for identifying market trends and reversals.
3. Lengths for Percentile Calculation: Various configurable lengths, influencing the scope of trend analysis.
4. SuperTrend Settings: ATR Length 20, Multiplier 18, affecting indicator sensitivity and trend detection.
5. Style Options: Custom colors for bullish (green) and bearish (red) trends, aiding visual interpretation.
6. Additional Settings: Includes contrarian signals and UI enhancements, offering strategic and visual flexibility.
Fibonacci Matrix Pivot Points [Trading Instruments]1. Overview:
Fibonacci Pivot Points is a highly dynamic and versatile indicator. It specializes in calculating pivot points using Fibonacci ratios, a popular method in technical analysis for identifying significant price levels. This tool is ideal for traders who focus on intraday and long-term market trends, offering precise pivot points for a variety of trading styles.
2. Core Features and Functionality:
Multiple Timeframe Options: From 'Auto' to 'Decennially', the indicator provides flexibility in selecting the appropriate pivot calculation period, catering to both short-term and long-term analysis.
Diverse Pivot Types: Includes options like 'Standard Levels', 'Extended Support/Resistance Levels', and 'Every Level', offering a range of pivot point calculations to suit different market conditions.
Number of Pivots Back' Function: This feature allows users to view historical pivot points up to a specified number, providing a deeper insight into past market behavior.
Customizable Visuals: Allows for personalization with various line styles (solid, dashed, dotted) and colors, enhancing the visibility and differentiation of pivot levels on charts.
Label and Price Display: Options to show labels and prices for each pivot point, with the ability to position them on either the left or right side, providing clear and immediate identification of key levels.
3. Technical Specifications:
The pivot point calculations are based on Fibonacci ratios, providing a mathematical and predictive approach to market analysis.
Historical Pivot Analysis: The 'Number of Pivots Back' function allows for analysis of pivot points over historical data, enhancing trend and reversal identification.
The indicator's flexibility allows it to adjust to different market conditions, whether for stocks, forex, crypto, commodities, or futures. Basically any and all instruments with moving prices.
Detailed Pivot Level Formulas: Each pivot type employs specific Fibonacci ratios for calculation:
Standard Levels:
Pivot Median (P) = (Previous High + Previous Low + Previous Close) / 3
R1 = P + 0.382 * (Previous High - Previous Low)
S1 = P - 0.382 * (Previous High - Previous Low)
R2 = P + 0.618 * (Previous High - Previous Low)
S2 = P - 0.618 * (Previous High - Previous Low)
R3 = P + 1.000 * (Previous High - Previous Low)
S3 = P - 1.000 * (Previous High - Previous Low)
Standard Enhanced Levels:
Pivot Median (P) = (Previous High + Previous Low + Previous Close) / 3
RA = P + 0.236 * (Previous High - Previous Low)
SA = P - 0.236 * (Previous High - Previous Low)
R1 = P + 0.382 * (Previous High - Previous Low)
S1 = P - 0.382 * (Previous High - Previous Low)
RB = P + 0.500 * (Previous High - Previous Low)
SB = P - 0.500 * (Previous High - Previous Low)
R2 = P + 0.618 * (Previous High - Previous Low)
S2 = P - 0.618 * (Previous High - Previous Low)
RC = P + 0.764 * (Previous High - Previous Low)
SC = P - 0.764 * (Previous High - Previous Low)
R3 = P + 1.000 * (Previous High - Previous Low)
S3 = P - 1.000 * (Previous High - Previous Low)
Bumper Levels (R3/S3):
Pivot Median (P) = (Previous High + Previous Low + Previous Close) / 3
R3 = P + 1.000 * (Previous High - Previous Low)
S3 = P - 1.000 * (Previous High - Previous Low)
Support Levels:
Pivot Median (P) = (Previous High + Previous Low + Previous Close) / 3
Follows the same structure as 'Standard Enhanced' but only includes the support levels (SA, S1, SB, S2, SC, S3, S4, S5, S6, S7).
Resistance Levels:
Pivot Median (P) = (Previous High + Previous Low + Previous Close) / 3
Follows the same structure as 'Standard Enhanced' but only includes the resistance levels (RA, R1, RB, R2, RC, R3, R4, R5, R6, R7).
Extended Support Levels:
Pivot Median (P) = (Previous High + Previous Low + Previous Close) / 3
S3 to S7 are calculated with increasing Fibonacci extensions beyond the 'Standard' level.
Extended Resistance Levels:
Pivot Median (P) = (Previous High + Previous Low + Previous Close) / 3
R3 to R7 are calculated with increasing Fibonacci extensions beyond the 'Standard' level.
Full Levels:
Combines all R and S levels from 'Standard' and 'Extended' types.
Full Enhanced Levels:
Combines all R, S, RA, SA, RB, SB, RC, SC levels from 'Standard Enhanced', 'Extended Support', and 'Extended Resistance' types.
4. User Interface and Visualization:
The interface is designed for ease of use, offering intuitive controls for selecting pivot types, timeframes, and visual settings.
Pivot points are displayed prominently on the chart, with clear demarcation and labeling for quick analysis.
5. Application and Trading Strategy Integration:
The indicator can be seamlessly integrated into various trading strategies, especially those that emphasize support and resistance levels for entry and exit points.
Traders can use it to identify potential reversal points, breakout opportunities, or to confirm other technical indicators.
6. Benefits and Advantages:
Enhances trading strategy by providing precise Fibonacci-based pivot points.
Aids in risk management by clearly identifying potential support and resistance levels.
Adaptable to various market conditions and trading styles, from day trading to swing and position trading.
7. Instructions for Use:
To add this indicator to a TradingView chart, search for "Fibonacci Pivot Points " in the indicators section and apply it to your chart.
Customize the pivot type, timeframe, and visual settings as per your trading needs and preferences.
8. Conclusion:
The "Fibonacci Pivot Points " indicator is a comprehensive tool that combines the reliability of Fibonacci calculations with the flexibility of multiple pivot point types and timeframes. Its integration into TradingView makes it a valuable asset for traders looking to enhance their market analysis and decision-making process.
9. Disclaimer:
This indicator is provided for informational purposes only and should not be solely relied upon for trading. Past performance is not indicative of future results. Traders should use this tool as part of a broader trading strategy.
Threshold counterOVERVIEW
The "Threshold Counter" is a tool for quantifying occurrences of closing prices of an asset that align with specified criteria and is a flexible and visual approach to studying price action.
A user-definable target threshold can be set and a comparator (<, =, >, and so on) can be selected. The indicator counts values on the main chart meeting these conditions, over a user-defined `lookback` period.
KEY FEATURES
User definable threshold: target value with optional upper bound can be specified
Versatile Comparisons: Choose from "=", ">=", ">", "<=", "<", "between", and "between (inclusive)" for diverse analysis.
Historical Analysis: Assess occurrences over a customisable period.
Visual Representation: Displays instances graphically on the chart with customisable colours.
Summary: Provides a summary label for a quick understanding of the analysed data.
USE-CASES
Pattern Recognition: Identify patterns or trends based on user-defined price criteria.
Threshold Analysis: Quantify occurrences of prices crossing or staying within a specified range.
Strategy Testing: Evaluate historical performance of strategies relying on specific price conditions.
Behavioural Insights: Gain insights into price behaviour by counting occurrences of interest.
The "Threshold Counter" indicator offers a flexible and visual approach to studying price action, which may aid in making decisions based on historical data.
IMPORTANT CONSIDERATIONS
Period selection: The effectiveness of the analysis may be influenced by the choice of the lookback period. Consider an appropriate duration based on the strategy or pattern being analysed.
Comparator Selection: Comparison operator selection will obviously affect the results. There are two range operators of `between` and `between (inclusive)`. The latter will add closing prices that exactly meet the threshold and upper bound. The former does not.
Visualisation: Interpretation of the visual representation is colour-coded.
Red is threshold condition is not met.
Green is threshold condition is met.
Aqua is outside of the lookback period.
User Discretion: This script relies on historical data and should be used with caution. Past performance is not indicative of future results.
Supplementary Analysis: Trading decisions should not rely solely on this script. Users should exercise judgment and consider market conditions.
2bandHello traders
In this script, I have defined two bands with a deviation of 2 and 3
I designed the setup so that the upper lines represent red resistance, the lower lines represent green support, and the blue line represents the average price of the previous 20 candles in each time frame.
This code can be used mostly in time frames above 30 minutes and somehow predict possible price targets.
For example, if the price closes above the blue line in the one-hour time frame, the two fixed lines above are considered as targets and vice versa.
I have also added the pivot point calculation formula in orange
Most importantly, I added the closing price of the previous days in black
I hope it will be used by dear traders and you will support more for new works.
GCMML [Orderflowing]GCMML | Gaussian Channel Murray Math Lines | Trend Analysis | Extremity Analysis
Built using Pine Script V5.
Introduction
The GCMML (Gaussian Channel & Murray Math Lines) Indicator is a TA tool that combines the precision of Gaussian Channels with the strategic insights of Murray Math Lines (MMLE).
This indicator is designed for traders seeking analysis of market trends and volatility while also keeping an eye on extreme pivot levels, offering a unique mix of technical analysis methods.
Innovation and Inspiration
Thank you Matt S. for the idea to create this indicator: www.tradingview.com
GCMML is inspired by the need to integrate the robustness of Gaussian Channels with the extremities of MMLE.
This hybrid approach provides traders with a more nuanced tool for market analysis.
The innovation lies in seamlessly blending these two methodologies to offer a trend & volatility perspective.
Core Features
Gaussian Channel: Uses Gaussian Channels for trend analysis, offering a view of market direction and potential reversals.
Murray Math Lines (MMLE): Incorporates MMLE for precise support and resistance levels, used for pivotal decision-making.
Customizable Settings: Offers flexibility in setting the number of bars for MMLE, type of moving average for Gaussian Channels, and various other parameters to tailor the indicator to individual trading styles.
Input Parameters
MMLE Settings: Adjust the number of bars, level display options, and price wick inclusion for MMLE calculations.
Gaussian Channel Settings: Choose the number of poles, sampling period, and multiplier for the Gaussian Channel. Options for less lag or fast modes for custom analysis.
Smoothing Options: Select from various smoothing methods like HMA, SMA, EMA, WMA, DEMA, and TEMA for color change in the Gaussian Channel.
Functionality
Adaptive Analysis: Dynamically adjusts to market conditions, providing relevant insights through the Gaussian Channel and MMLE.
Visual: Offers clear visual cues through color-coded bands and levels, aiding in quick interpretation of market trends and potential pivot points.
Analysis and Interpretation
Market Trends: The Gaussian Channel provides a visual representation of the market trend, with color changes indicating shifts in momentum.
Support and Resistance: MMLE levels offer critical insights into potential support and resistance areas, guiding traders in making informed decisions.
Usage and Applications
Trend Identification: Use the Gaussian Channel for identifying market trends and potential reversal points.
Strategic Decision-Making: Leverage MMLE levels for setting stop-losses, take-profits, and identifying entry and exit points.
Comprehensive Market Analysis: Combine insights from both Gaussian Channels and MMLE for a more thorough analysis of market movements.
Example - Only Displaying the Gaussian Channel:
Example - Disable Fast Response & Reduced Lag Mode:
Example - Multi-Timeframe (6H Calculation / 4H Chart - 32Bars MMLE - GC Default Settings):
The Value
GCMML stands out as a unique and valuable technical analysis tool.
Its innovative combination of Gaussian Channels and MMLE, along with customizable settings, gives the trader an edge in market analysis.
The indicator's ability to provide customizable analysis justifies its position as a closed-source product.
Conclusion
The GCMML indicator is a new dual tool that offers traders a method to analyze market trends and volatility. Its approach of combining Gaussian Channels with MMLE provides a comprehensive view of the market, making it a niche addition to a trader's toolkit.
It is recommended to use GCMML in conjunction with other trading strategies.
It is not recommended to use the GCMML by itself for trading decisions.
Consolidation FilterDescription:
Consolidation is a technical analysis term used to describe a assets's price movement within a given support and resistance range for a period of time. Consolidations happen either during trending market phases or before a new trend. Consolidation is generally interpreted as market indecisiveness and uncertainty as to which way the market will go next caused due to trader indecisiveness, which ends when the asset's price moves above or below the trading level. A consolidation level could be broken for several reasons, such as the release of materially important news or the triggering of a succession of limit orders.
Markets spend a great amount of time ranging and going sideways. It pays off to know how to identify and trade consolidations because they happen so frequently.
Periods of consolidation can be found in price charts for any time interval, and these periods can last for days, weeks, or months. Technical traders look for support and resistance levels in price charts and then use these levels to make buy and sell decisions. Typically, traders look for certain consolidation patterns: sideways ranges, downward or upward sloping ranges (also called flags), or triangular consolidations (triangles, wedges and pennants).
In contrast, this script offers an alternative, fairly straightforward but effective, way to pinpoint consolidation periods using a forecast oscillator method and simply highlighting relevant regions in the chart (with a yellow background).
In the settings menu you can select one of the three calculation methods, but all of them are based on the forecast oscillator. The indicator settings depend on the asset and on the timeframe. For example for the 2H timeframe BTSUSD preferred settings are period:10/method:2/threshold:0.2, and for the 15M timeframe BTSUSD the settings are period:10/method:2/threshold:0.02. Feel free to experiment with settings to suit your needs.
Fair Value Gap Finder with Integrated Gann BoxTitle: Fair Value Gap Finder with Integrated Gann Box Analysis
Description:
The "Fair Value Gap Finder with Integrated Gann Box Analysis" is a unique technical indicator designed for traders who wish to incorporate the concepts of Fair Value Gaps (FVG) and Gann Box methodologies into their trading strategy. This tool is beneficial for both trend-following and scalping techniques across various markets and timeframes.
Functionality:
The indicator identifies Fair Value Gaps, which are areas on the chart where price has skipped a range, creating a 'gap'. Recognizing these zones can be crucial for understanding potential price support and resistance areas. Alongside FVG detection, this script employs Gann Box principles to project potential levels of interest. Gann Boxes are drawn automatically when an FVG is identified, providing additional insights based on W.D. Gann's theories, which relate to time and price symmetry.
Usage:
Upon detecting an FVG, the indicator will highlight the gap on the chart and overlay a Gann Box between the high and low points of the gap. Traders can use these zones to make informed decisions about entry and exit points, stop loss, and take profit levels. The script offers customization options for the appearance and behavior of the FVG boxes and Gann Lines, allowing users to adapt the tool to their preferences.
Originality:
What sets this indicator apart is the integration of FVG with Gann Box levels within a single tool, streamlining the analysis process. It takes the classic approach of identifying gaps and enriches it with the geometric significance of Gann's work, all while allowing users to visualize and interact with these levels in a user-friendly manner.
Open-Source Nature:
This script is open-source, making it a transparent solution for those who wish to understand the underlying calculations. While not all traders are versed in Pine Script, the logic of identifying FVGs and applying Gann Box levels is explained through the script's annotations and the user interface itself.
Instructions for Use:
Apply the script to your chart, and it will automatically detect FVGs.
Adjust the settings in the indicator's input menu to match your trading style and preferences.
Use the FVG and Gann Box levels as potential areas of interest for trade setups.
This script does not guarantee profits and should be used as part of a comprehensive trading plan. It is best used in conjunction with other analysis methods to confirm signals and strategies.
PercenageDropFromATHINFO:
The PercenageDropFromATH script is fairly simple indicator, which is able to:
detect the last ATH (real ATH of the full chart, not related to the selected timeframe) and plot it
user can select a percentage of drop from this price, and once reached can receive a notification
Note that if the ATH is outside of the visibility of the currently selected timeframe the indicator will not be able to show it. Recommended settings is 1D TF!
DETAILS:
The purpose of the script is to serve to ease passive investments in ETFs and indices, once those are dropping below certain point from the ATH.
Individual stocks are not really recommended in my view, as unlike the indices which are cherry picking the best companies from the sector, individual companies can always start drifting away.
Anyway, the indicator should work on all assets, including crypto, gold, etc.
Example usage could be of setting an alert for 25% drop in SPY, and start accumulating positions on every next 10% additional drop, so DCA can be done with favorable prices.
SETTINGS
The settings are pretty straight forward:
ATH Source - source for computing the ATH, default to "high", but user can select to check only on open/close/low as well
Percentage drop target from ATH - self explaining, default to 20
ATH color - only the last ATH until the current bar is been drawn
Plot ATH drop target price - optionally the target price after the percentage drop can be plotted as well
ATH drop target color - the color of the price after the percentage drop from ATH
BreakoutTrendFollowingINFO:
The "BreakoutTrendFollowing" indicator is a comprehensive trading system designed for trend-following in various market environments. It combines multiple technical indicators, including Moving Averages (MA), MACD, and RSI,
along with volume analysis and breakout detection from consolidation, to identify potential entry points in trending markets. This strategy is particularly effective for assets that exhibit strong trends and significant price movements.
Note that using the consolidation filter reduces the amount of entries the strategy detects significantly, and needs to be used if we want to have an increased confidence in the trend via breakout.
However, the strategy can be easily transformed to various only trend-following strategies, by applying different filters and configurations.
The indicator can be used to connect to the Signal input of the TTS (TempalteTradingStrategy) by jason5480 in order to backtest it, thus effectively turning it into a strategy (instructions below in TTS CONNECTIVITY section)
DETAILS:
The strategy's core is built upon several key components:
Moving Average (MA): Used to determine the general trend direction. The strategy checks if the price is above the selected MA type and length.
MACD Filter: Analyzes the relationship between two moving averages to confirm the trend's momentum.
Consolidation Detection: Identifies periods of price consolidation and triggers trades on breakouts from these ranges.
Volume Analysis: Assesses trading volume to confirm the strength and validity of the breakout.
RSI: Used to avoid overbought conditions, ensuring trades are entered in favorable market situations.
Wick filters: make sure there is not a long wick that indicates selling pressure from above
The strategy generates buy signals when several conditions are met concurrently (each one of them can be individually enabled/disabled)"
The price is above the selected MA.
A breakout occurs from a configurable consolidation range.
The MACD line is above the signal line, indicating bullish momentum.
The RSI is below the overbought threshold.
There's an increase in trading volume, confirming the breakout's strength.
Currently the strategy fires SL signals, as the approach is to check for loss of momentum - i.e. crossunder of the MACD line and signal line, but that is to everyone to determine the exit conditions.
The buy and SL signals are set on the chart using green or orange triangles on the below/above the price action.
SETTINGS:
Users can customize various parameters, including MA type and period, MACD settings, consolidation length, and volume increase percentage. The strategy is equipped with alert conditions for both entry (buy signals) and exit (set stop loss) points, facilitating both manual and automated trading.
Each one of the technical indicators, as well as the consilidation range and breakout/wick settings can be configured and enabled/disabled individually.
Please thoroughly review the available settings of the script, but here is an outline of the most important ones:
Use bar wicks (instead of open/close) - the ref_high/low will be taken based on the bar wicks, rather than the open/close when determining the breakout and MA
Enter position only on green candles - additional filters to make sure that we enter only on strong momentum
MA Filter: (enable, source, type, length) - general settings for MA filter to be checked against the stock price (close or upper wick)
MACD Filter: (enable, source, Osc MA type, Signal MA type, Fast MA length, Slow MA length, Low MACD Hist) - detailed settings for fine MACD tuning
Consolidation:
Consolidation Type: we have two different ways of detecting the consolidation, note the types below.
CONSOLIDATION_BASIC - consolidation areas by looking for the pivot point of a trend and counts the number of bars that have not broken the consolidation high/low levels.
CONSOLIDATIO_RANGE_PERCENT - identifies consolidation by comparing the range between the highest and lowest price points over a specified period.
So in summary the CONSOLIDATIO_RANGE_PERCENT uses a percentage-based range to define consolidation, while CONSOLIDATION_BASIC uses a count of bars within a high-low range to establish consolidation.
Thus the former is more focused on the tightness of the price range, whereas the latter emphasizes the duration of the consolidation phase.
The CONSOLIDATIO_RANGE_PERCENT might be more sensitive to recent price movements and suitable for shorter-term analysis, while CONSOLIDATION_BASIC could be better for identifying longer-term consolidation patterns.
Min consolidation length - applicable for CONSOLIDATION_BASIC case, the min number of bars for the price to be in the range to consider consolidation
Consolidation Loopback period - applicable for CONSOLIDATION_BASIC case, the loopback number of bars to look for consolidation
Consolidation Range percent - applicable for CONSOLIDATIO_RANGE_PERCENT, the percent between the high and low in the range to consider consolidation
Plot consolidation - enables plotting of the consolidation (only for debug purposes)
Breakout: (enable, low, high) - the definition of the breakout from the previous consolidation range, the price should be between to determine the breakout as successfull
Upper wick: (enable, percent) - defines the percent of the upper wick compared to the whole candle to allow breakout (if the wick is too big part of the candle we can consider entering the position riskier)
RSI: (enable, length, overbought) - general settings for RSI TA
Volume (enbale, percentage increase, average volume filter en, loopback bars) - percentage of increase of the volume to consider for a breakout. There are two modes - percentage increase compared to the previous bar, or percentage against the average volume for the last loopback bars.
Note that there are many different configuration that you can play with, and I believe this is the strength of the strategy, as it can provide a single solution for different cases and scenarios.
My advice is to try and play with the different options for different markets based on the approach you want to implement and try turning features on/off and tuning them further.
TTS SETTINGS (NEEDED IF USED TO BACKTEST WITH TTS):
The TempalteTradingStrategy is a strategy script developed in Pine by jason5480, which I recommend for quick turn-around of testing different ideas on a proven and tested framework
I cannot give enough credit to the developer for the efforts put in building of the infrastructure, so I advice everyone that wants to use it first to get familiar with the concept and by checking
by checking jason5480's profile www.tradingview.com
The TTS itself is extremely functional and have a lot of properties, so its functionality is beyond the scope of the current script -
Again, I strongly recommend to be thoroughly explored by everyone that plans on using it.
In the nutshell it is a script that can be feed with buy/sell signals from an external indicator script and based on many configuration options it can determine how to execute the trades.
The TTS has many settings that can be applied, so below I will cover only the ones that differ from the default ones, at least according to my testing - do your own research, you may find something even better :)
The current/latest version that I've been using as of writing and testing this script is TTSv48
Settings which differ from the default ones:
Deal Conditions Mode - External (take enter/exit conditions from an external script)
🔌Signal 🛈➡ - BreakoutTrendFollowing: 🔌Signal to TTS (this is the output from the indicator script, according to the TTS convention)
Order Type - STOP (perform stop order)
Distance Method - HHLL (HigherHighLowerLow - in order to set the SL according to the strategy definition from above)
The next are just personal preferences, you can feel free to experiment according to your trading style
Take Profit Targets - 0 (either 100% in or out, no incremental stepping in or out of positions)
Dist Mul|Len Long/Short- 10 (make sure that we don't close on profitable trades by any reason)
Quantity Method - EQUITY (personal backtesting preference is to consider each backtest as a separate portfolio, so determine the position size by 100% of the allocated equity size)
Equity % - 100 (note above)
Tennis Ball ActionInspired by Mark Minervini's sell rules in "Think and Trade Like a Champion".
Used to determine if a stock is behaving well after a breakout
Used to determine when it might by prudent to reduce a position or sell
Used as a visual aid, but based purely off price and volume action
Here's a breakdown of what each condition checks for:
Up Close Counter: Checks for a sequence of upward closes. If there are 12 or more up closes in the last 15 days, it flags up_days as true.
Upper 50% Range Condition: Determines if 9 or more out of the last 15 closes are in the upper 50% of the price range.
Bullish Engulfing: Identifies a bullish engulfing candlestick pattern where the close is higher than the previous high and the open is lower than the previous low.
Stock Up 3% or More: Flags when the stock is up 3% or more on the day.
Inside Day Condition: Checks if the current day's high is lower than the previous day's high and the current day's low is higher than the previous day's low.
Close Below 50-day SMA: Indicates a negative confirmation when the stock closes below the 50-day Simple Moving Average (SMA).
Weak Close Condition: Similar to the Upper 50% Range Condition, but looking for lower closes.
Close Below 20-day SMA: Another negative confirmation when the stock closes below the 20-day SMA.
Three Lower Lows: Identifies a pattern where the current close is lower than the previous two closes.
Down on Above Average Volume: Flags when the stock closes lower than the previous day's close and the volume is higher than the 20-day SMA of volume.
The script then tallies up the confirmations and violations based on these conditions and plots them on a histogram. Confirmations are represented in green, violations in red.
This indicator evaluates both bullish and bearish signals based on various technical conditions to assist traders in decision-making. The confirmations suggest potential bullish movements, while violations indicate potential bearish movements in the stock.
Support and Resistance (MTF) | Flux Charts💎 GENERAL OVERVIEW
Introducing a groundbreaking support and resistance indicator designed to revolutionize your trading experience on TradingView! This innovative tool operates across three distinct timeframes, offering a comprehensive view of market dynamics to help you make informed trading decisions.
The indicator offers a large variety of features :
Select Up To 3 Timeframes
Select Strength Of Supports & Resistances
Select Between Zones & Lines
Show Breaks & Restests
Break & Retest Alerts
Avoid False Breaks
Inverse Color After Broken
Expand Lines & Zones
🚩UNIQUENESS
What sets this indicator apart is its ability to seamlessly integrate and analyze support and resistance levels across multiple timeframes simultaneously. By combining data from three different timeframes, this indicator provides a holistic perspective on market trends and key levels. The adaptive nature of this tool ensures a dynamic assessment of support and resistance zones, empowering traders to adapt to changing market conditions efficiently.
⚙️SETTINGS
1. General Configration
Support & Resistance Count -> Select between 1-3 support & resistance zones for each timeframe.
Pivot Range -> The pivot range is taken into calculations when finding high & low pivots in the chart. Increase if you need a more general look at the support & support zones, or decrease if you need a more detailed look.
Strength -> The strength of the support & resistance zones are determined by how many times the price touched the zone in the past. You can increase the strength up to 4.
Expand Lines & Zones -> If enabled, the support & resistance zones will be expanded to both left and right infinitely. If disabled, the support & resistance zones will be clamped between the time they are first seen, and the time they become broken.
2. Support & Resistance Zones
Enable Zones -> The support & resitsance lines will be converted to zones if enabled.
Zone Width -> The width of the zones. 1 -> %0.05, 2 -> %0.06, 3 -> %0.075.
3. Timeframes
Enable & Disable up to 3 different timeframes using the checkboxes. You can set the timeframes using the selectboxes.
4. Breaks & Retests
Show Breaks -> Points the break points with a blue label with the text "B" on it.
Show Retests -> Points the times when the support & resistance zones are being retested in the current chart.
Avoid False Breaks -> If enabled, the algorithm will try to avoid false break points by comparing the average volume of the point to a longer average volume.
Break Volume Threshold % -> If "Avoid False Breaks" option is enabled, the average volume of the break point should surpass the general average volume by this percent. Higher values mean it's less likely to be a break.
Inverse Color After Broken -> As broken support & resistance zones often become resistance & support zones respectively, if you enable this option the broken zones will inverse their color.
5. Alerts
To make the alerts work, you'll need to add an alert to the chart using the TradingView® alert feature.
Enable Retest Alerts -> You will receive alerts when restests happen on any of the support & resistance zones. "Show Retests" option needs to be enabled to get alerts of this category.
Enable Break Alerts -> You will receive alerts when breaks happen on any of the support & resistance zones.
Opening/Closing Highs and LowsDescription:
This indicator tracks the daily, monthly, and yearly opening, closing, highs, and lows in the stock market. It's designed to display crucial price points within different time frames, aiding traders in assessing significant market movements.
Features:
Daily View: Shows the opening, closing, highest, and lowest prices within each trading day.
Monthly Overview: Highlights the monthly opening, closing, highs, and lows to offer insights into broader market trends.
Yearly Perspective: Presents the annual opening, closing, highs, and lows, aiding in long-term market analysis.
How to Use:
Daily Analysis: Monitor daily fluctuations and spot intraday trends by observing the daily opening/closing ranges.
Monthly Trends: Identify monthly patterns by reviewing the monthly opening/closing levels.
Yearly Insights: Gain a broader perspective on yearly market movements by analyzing the annual highs and lows
Peak & Valley Levels [AlgoAlpha]The Peak & Valley Levels indicator is a sophisticated script designed to pinpoint key support and resistance levels in the market. By utilizing candle length and direction, it accurately identifies potential reversal points, offering traders valuable insights for their strategies.
Core Components:
Peak and Valley Detection: The script recognizes peaks and valleys in price action. Peaks (potential resistance levels) are identified when a candle is longer than the previous one, changes direction, and closes lower, especially on lower volume. Valleys (potential support levels) are detected under similar conditions but with the candle closing higher.
Color-Coded Visualization:
Red lines mark resistance levels, signifying peaks in the price action.
Green lines indicate support levels, representing valleys.
Dynamic Level Adjustment: The script adapts these levels based on ongoing market movements, enhancing their relevance and accuracy.
Rejection Functions:
Bullish Rejection: Determines if a candlestick pattern rejects a level as potential support.
Bearish Rejection: Identifies if a pattern rejects a level as possible resistance.
Usage and Strategy Integration:
Visual Aid for Support and Resistance: The indicator is invaluable for visualizing key market levels where price reversals may occur.
Entry and Exit Points: Traders can use the identified support and resistance levels to fine-tune entry and exit points in their trading strategies.
Trend Reversal Signals: The detection of peaks and valleys serves as an early indicator of potential trend reversals.
Application in Trading:
Versatile for Various Trading Styles: This indicator can be applied across different trading styles, including swing trading, scalping, or trend-following approaches.
Complementary Tool: For best results, it should be used alongside other technical analysis tools to confirm trading signals and strategies.
Customization and Adaptability: Traders are encouraged to experiment with different settings and timeframes to tailor the indicator to their specific trading needs and market conditions.
In summary, the Peak & Valley Levels by AlgoAlpha is a dynamic and adaptable tool that enhances a trader’s ability to identify crucial market levels. Its integration of candlestick analysis with dynamic level adjustment offers a robust method for spotting potential reversal points, making it a valuable addition to any trader's toolkit.
Open Interest by strikeOverview :
What is open interest (OI)? Is the total number of open derivative contracts, such as options, that have not been settled. These positions have been opened, but have not been closed out, expired, or exercised. This indicator helps with giving the open interest of selected equities on the market. It will give you the current weekly expiration date and has also the option to give the monthly expiration date (3rd Friday of the month).
How it works/Calculations :
This indicator will bring the data from an outside source and will have the closest options strikes to the current spot price of the underlying. The bars size will be equivalent to the amount of open interest. In the settings, you can see current weekly expiration options OI or have the option to see monthly expiration. When the weekly expiration is the monthly expiration week, then monthly expiration will show the next monthly expiration. (Example: On December 6, 2023 you will see weekly expiration of Dec 8, 2023 and monthly expiration will be Dec 15, 2023. On December 11, 2023 you will see weekly expiration of Dec 15, 2023 and monthly expiration will be Jan 19, 2024). You will also have the option to see the values or hide them. Also can see delta OI (for each strike subtract the calls and puts and display the remaining values). Open Interest updaters once a day, this indicator will update as well to give the most current values.
Current equities available for the data :
1. XLK 2. XLY 3. XLV 4. XLI 5. XLF 6. AAPL 7. MSFT 8. NVDA 9. AMD 10. V 11. Crm 12. Meta 13. Goog 14. NFLX 15. Amzn 16. Tsla 17. HD 18. Low 19. TGT 20. Wmt 21. XOM 22. Cvx 23. JPM 24. AXP 25. GS 26. ABBV 27. Cat 28. DE 29. BA 30. Fdx 31. UPS 32. Shop 33. SQ 34. Abnb 35. Snow 36. Coin 37. Crwd 38. Uber 39. SBUX 40. ENPH 41. XLP 42. XLE 43. XLB 44. NKE 45. UPS
How to use :
You should not be using this indicator for entries or stop. This indicator will help you see where there are possible levels that will serve as imaginary support and resistance.
Settings:
As above, you can choose weekly or monthly expiration date as explained above. Also you can choose to see the values or delta OI or no values.
Disclaimer:
This is still an indicator that in no way should be used alone.
The information contained in this script does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts are only for educational purposes!
William's Magic GridHere is an accurate and adaptive SR grid.
Best settings:
Zones: Large
Turn off Daily High and Low lines
5m TF
Steps:
1. Wait for price to get in a zone. Use break of structure and pullbacks to determine trend and safe entry.
2. Enter trade. Set TP a little before next zone. Set SL as desired.
3. Enjoy profits.
More edits to come.
Custom Text LevelsDescription:
The Multi-Level Custom Text and Line Indicator is a versatile tool designed for traders who need to mark specific price levels on their charts with personalized text and visual cues. This indicator allows users to input up to three distinct levels, each with its custom text annotation, making it ideal for highlighting support/resistance levels, pivot points, or any significant price points relevant to their trading strategy.
Features:
Customizable Text for Each Level: Enter specific annotations for up to three different levels. Ideal for labeling key price points, notes, or reminders directly on the chart.
Adjustable Levels: Set the exact price level for each text annotation, enabling precise placement at critical price points.
Color Customization: Choose the color for the line at each level, enhancing visual clarity and chart aesthetics.
Line Style and Thickness: Customize the appearance of the line at each level, with options for solid, dotted, or dashed lines and adjustable thickness, providing clarity and emphasis where needed.
Text Offset Control: Adjust the horizontal position of the text relative to the current bar, allowing for a cleaner and more organized chart layout.
Text Size Options: Select from small, normal, or large text sizes to ensure the annotations are easily readable and suit your chart's scale and layout.
Use Cases:
Marking Support and Resistance Levels: Quickly annotate key support and resistance levels with descriptive texts.
Highlighting Pivot Points: Label pivot points or other significant price levels for easy reference.
Trade Setup Notes: Annotate potential trade setups or entry/exit points along with specific price levels.
How to Use:
Input Custom Text: Enter the text you want to display for each level in the 'Custom Text' fields.
Set Levels: Specify the price levels where you want the lines and text annotations to appear.
Customize Appearance: Choose line colors, styles, and text sizes according to your preference and chart needs.
Adjust Text Offset: Use the offset feature to position the text left or right of the current bar for a neat and organized layout
Adaptive MFT Extremum Pivots [Elysian_Mind]Adaptive MFT Extremum Pivots
Overview:
The Adaptive MFT Extremum Pivots indicator, developed by Elysian_Mind, is a powerful Pine Script tool that dynamically displays key market levels, including Monthly Highs/Lows, Weekly Extremums, Pivot Points, and dynamic Resistances/Supports. The term "dynamic" emphasizes the adaptive nature of the calculated levels, ensuring they reflect real-time market conditions. I thank Zandalin for the excellent table design.
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Chart Explanation:
The table, a visual output of the script, is conveniently positioned in the bottom right corner of the screen, showcasing the indicator's dynamic results. The configuration block, elucidated in the documentation, empowers users to customize the display position. The default placement is at the bottom right, exemplified in the accompanying chart.
The deliberate design ensures that the table does not obscure the candlesticks, with traders commonly situating it outside the candle area. However, the flexibility exists to overlay the table onto the candles. Thanks to transparent cells, the underlying chart remains visible even with the table displayed atop.
In the initial column of the table, users will find labels for the monthly high and low, accompanied by their respective numerical values. The default precision for these values is set at #.###, yet this can be adjusted within the configuration block to suit markets with varying degrees of volatility.
Mirroring this layout, the last column of the table presents the weekly high and low data. This arrangement is part of the upper half of the table. Transitioning to the lower half, users encounter the resistance levels in the first column and the support levels in the last column.
At the center of the table, prominently displayed, is the monthly pivot point. For a comprehensive understanding of the calculations governing these values, users can refer to the documentation. Importantly, users retain the freedom to modify these mathematical calculations, with the table seamlessly updating to reflect any adjustments made.
Noteworthy is the table's persistence; it continues to display reliably even if users choose to customize the mathematical calculations, providing a consistent and adaptable tool for informed decision-making in trading.
This detailed breakdown offers traders a clear guide to interpreting the information presented by the table, ensuring optimal use and understanding of the Adaptive MFT Extremum Pivots indicator.
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Usage:
Table Layout:
The table is a crucial component of this indicator, providing a structured representation of various market levels. Color-coded cells enhance readability, with blue indicating key levels and a semi-transparent background to maintain chart visibility.
1. Utilizing a Table for Enhanced Visibility:
In presenting this wealth of information, the indicator employs a table format beneath the chart. The use of a table is deliberate and offers several advantages:
2. Structured Organization:
The table organizes the diverse data into a structured format, enhancing clarity and making it easier for traders to locate specific information.
3. Concise Presentation:
A table allows for the concise presentation of multiple data points without cluttering the main chart. Traders can quickly reference key levels without distraction.
4. Dynamic Visibility:
As the market dynamically evolves, the table seamlessly updates in real-time, ensuring that the most relevant information is readily visible without obstructing the candlestick chart.
5. Color Coding for Readability:
Color-coded cells in the table not only add visual appeal but also serve a functional purpose by improving readability. Key levels are easily distinguishable, contributing to efficient analysis.
Data Values:
Numerical values for each level are displayed in their respective cells, with precision defined by the iPrecision configuration parameter.
Configuration:
// User configuration: You can modify this part without code understanding
// Table location configuration
// Position: Table
const string iPosition = position.bottom_right
// Width: Table borders
const int iBorderWidth = 1
// Color configuration
// Color: Borders
const color iBorderColor = color.new(color.white, 75)
// Color: Table background
const color iTableColor = color.new(#2B2A29, 25)
// Color: Title cell background
const color iTitleCellColor = color.new(#171F54, 0)
// Color: Characters
const color iCharColor = color.white
// Color: Data cell background
const color iDataCellColor = color.new(#25456E, 0)
// Precision: Numerical data
const int iPrecision = 3
// End of configuration
The code includes a configuration block where users can customize the following parameters:
Precision of Numerical Table Data (iPrecision):
// Precision: Numerical data
const int iPrecision = 3
This parameter (iPrecision) sets the precision of the numerical values displayed in the table. The default value is 3, displaying numbers in #.### format.
Position of the Table (iPosition):
// Position: Table
const string iPosition = position.bottom_right
This parameter (iPosition) sets the position of the table on the chart. The default is position.bottom_right.
Color preferences
Table borders (iBorderColor):
// Color: Borders
const color iBorderColor = color.new(color.white, 75)
This parameters (iBorderColor) sets the color of the borders everywhere within the window.
Table Background (iTableColor):
// Color: Table background
const color iTableColor = color.new(#2B2A29, 25)
This is the background color of the table. If you've got cells without custom background color, this color will be their background.
Title Cell Background (iTitleCellColor):
// Color: Title cell background
const color iTitleCellColor = color.new(#171F54, 0)
This is the background color the title cells. You can set the background of data cells and text color elsewhere.
Text (iCharColor):
// Color: Characters
const color iCharColor = color.white
This is the color of the text - titles and data - within the table window. If you change any of the background colors, you might want to change this parameter to ensure visibility.
Data Cell Background: (iDataCellColor):
// Color: Data cell background
const color iDataCellColor = color.new(#25456E, 0)
The data cells have a background color to differ from title cells. You can configure this is a different parameter (iDataColor). You might even set the same color for data as for the titles if you will.
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Mathematical Background:
Monthly and Weekly Extremums:
The indicator calculates the High (H) and Low (L) of the previous month and week, ensuring accurate representation of these key levels.
Standard Monthly Pivot Point:
The standard pivot point is determined based on the previous month's data using the formula:
PivotPoint = (PrevMonthHigh + PrevMonthLow + Close ) / 3
Monthly Pivot Points (R1, R2, R3, S1, S2, S3):
Additional pivot points are calculated for Resistances (R) and Supports (S) using the monthly data:
R1 = 2 * PivotPoint - PrevMonthLow
S1 = 2 * PivotPoint - PrevMonthHigh
R2 = PivotPoint + (PrevMonthHigh - PrevMonthLow)
S2 = PivotPoint - (PrevMonthHigh - PrevMonthLow)
R3 = PrevMonthHigh + 2 * (PivotPoint - PrevMonthLow)
S3 = PrevMonthLow - 2 * (PrevMonthHigh - PivotPoint)
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Code Explanation and Interpretation:
The table displayed beneath the chart provides the following information:
Monthly Extremums:
(H) High of the previous month
(L) Low of the previous month
// Function to get the high and low of the previous month
getPrevMonthHighLow() =>
var float prevMonthHigh = na
var float prevMonthLow = na
monthChanged = month(time) != month(time )
if (monthChanged)
prevMonthHigh := high
prevMonthLow := low
Weekly Extremums:
(H) High of the previous week
(L) Low of the previous week
// Function to get the high and low of the previous week
getPrevWeekHighLow() =>
var float prevWeekHigh = na
var float prevWeekLow = na
weekChanged = weekofyear(time) != weekofyear(time )
if (weekChanged)
prevWeekHigh := high
prevWeekLow := low
Monthly Pivots:
Pivot: Standard pivot point based on the previous month's data
// Function to calculate the standard pivot point based on the previous month's data
getStandardPivotPoint() =>
= getPrevMonthHighLow()
pivotPoint = (prevMonthHigh + prevMonthLow + close ) / 3
Resistances:
R3, R2, R1: Monthly resistance levels
// Function to calculate additional pivot points based on the monthly data
getMonthlyPivotPoints() =>
= getPrevMonthHighLow()
pivotPoint = (prevMonthHigh + prevMonthLow + close ) / 3
r1 = (2 * pivotPoint) - prevMonthLow
s1 = (2 * pivotPoint) - prevMonthHigh
r2 = pivotPoint + (prevMonthHigh - prevMonthLow)
s2 = pivotPoint - (prevMonthHigh - prevMonthLow)
r3 = prevMonthHigh + 2 * (pivotPoint - prevMonthLow)
s3 = prevMonthLow - 2 * (prevMonthHigh - pivotPoint)
Initializing and Populating the Table:
The myTable variable initializes the table with a blue background, and subsequent table.cell functions populate the table with headers and data.
// Initialize the table with adjusted bgcolor
var myTable = table.new(position = iPosition, columns = 5, rows = 10, bgcolor = color.new(color.blue, 90), border_width = 1, border_color = color.new(color.blue, 70))
Dynamic Data Population:
Data is dynamically populated in the table using the calculated values for Monthly Extremums, Weekly Extremums, Monthly Pivot Points, Resistances, and Supports.
// Add rows dynamically with data
= getPrevMonthHighLow()
= getPrevWeekHighLow()
= getMonthlyPivotPoints()
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Conclusion:
The Adaptive MFT Extremum Pivots indicator offers traders a detailed and clear representation of critical market levels, empowering them to make informed decisions. However, users should carefully analyze the market and consider their individual risk tolerance before making any trading decisions. The indicator's disclaimer emphasizes that it is not investment advice, and the author and script provider are not responsible for any financial losses incurred.
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Disclaimer:
This indicator is not investment advice. Trading decisions should be made based on a careful analysis of the market and individual risk tolerance. The author and script provider are not responsible for any financial losses incurred.
Kind regards,
Ely
Probability Pivot PointsProbability Pivot Points integrates a customizable Pivot Points indicator with conditional probabilities calculated from historical occurrences.
Features
Six different discretionarily Pivot Point Bias strategies utilizing Midpoint Pivot Points in bullish and bearish variants: Standard, Range, Continuation, Counter Trend, Expansion, and Extension.
Next Period's Pivot Points given the current period's OHLC data. Includes settings to use theoretical OHLC values to see what the next period's Pivot Points could look like.
Supports Traditional, Floor, Fibonacci, and Average True Range Pivot Point calculations.
Includes settings to customize the Fibonacci ratios and Average True Range calculations.
Automatically maximize or manually set the number of historical Pivot Points to draw.
Probability visualizations for the Pivot Points based on historical occurrences for the current and upcoming trading periods. The Probability Weighted Pivot (PWP) Point uses the probabilities calculated as weights against every displayed Pivot Point to show a mean of the data.
Load seasonal or non-seasonal historical data to calculate the odds of a High, Low, or Close occurring between any two Pivot Points.
Settings to manually set the weekly, monthly, and quarterly seasonal data loaded into the Pivot Probabilities feature. Automatic detection and loading of the current seasonal period's data is the default behavior. Includes a table that displays the data that's loaded.
Get probabilities for the currently selected Pivot Point Bias strategy.
Check the odds of High, Low, or Close occurrences at the strategy's marked Entry, Exit, or Stop Loss Pivot Points.
Seasonal Filters let you select specific years to sample probabilities from.
Customize pivot colors, width, label size, label color, Bias Entry and Exit Zone colors, Pivot Probability colors, and pick between the Point Five and M Legacy Midpoint label styles.
Auto Timeframe changes the Pivot Points higher timeframe based on the chart timeframe in use. Includes settings to customize what chart timeframes will display specific Pivot Point higher timeframes.
Q: Is this an update to your older Pivot Probabilities indicator?
Pivot Probabilities was designed to require a separately applied Pivot Points indicator to be interpreted and used properly. Probability Pivot Points is designed with an included set of Pivot Pivots that can interact with the probability calculations, which helps make improvements to new calculations and visualizations that Pivot Probabilities was never originally designed to do. Features from Pivot Probabilities are being completely redesigned, reimplemented, and expanded upon as a component in this larger Probability Pivot Points indicator. Anyone with access to the old Pivot Probabilities will also get access to Probability Pivot Points and are considered part of the same package.
