ICT SM Trades PREMIUMIndicator looks for ICT & Smart Money trades on any timeframe. These types of trades reveal how the big institutions, banks and hedge funds trade with big money. If they want their very big positions to be filled they need to find areas in chart where the majority of the money is sitting. Where is it? Where is the majority of orders placed? Right below supports or right above resistance, these orders are stoplosses or stop orders. So they need to push the price to these areas, take all the available stoplosses and trigger all the available stop orders in order to fill their positions and then push the price to the opposite side to make profit (and retail to lose).
Indicator looks for support or resistance (S/R) areas which are represented by dotted lines. This S/R areas are created by minimum of 2 pivot high/low (H/L). Every pivot H/L that creates the S/R area is marked with diamond label. This S/R area is called liquidity. After liquidity is created, indicator looks for liquidity grab (mostly represented by fast spike to this area - it is labeled with x-cross) and then price should go fast to the opposite side of the created structure. Indicator considers as a created structure everything that was created on the other side of the candles from the oldest pivot H/L which creates particular liquidity. For example, if liquidity is created with 3 pivot highs, indicator looks at the oldest pivot high and from there it is looking for the lowest low. Under this lowest low is dashed line which means that this level should be broken with closed candle. This action is called market structure shift (MSS), when the price shifted very fast from highs to lows. After MSS, when the price went fast to one direction, there were some imbalances in prices, in our example selling pressure was a lot bigger than buying pressure and there were created some long untested bearish candles. This untested areas in candles are called imbalances or gaps of fair value gaps (FVG). These are labeled with rectangles. It is expected that these gaps will be tested in near future to "balance the market".
We can put limit orders into these gaps (or into order blocks in PREMIUM indicator) and await some retracement after MSS to open our positions and after the positions are opened we can expect trend continuation in the direction where market structure shift was made (away from liquidity grab). So stoplosses can be placed above/below liquidity grab candle (marked with x-cross).
Alerts can be set for MSS to Long & Short and for liquidity grabs to Long & Short.
All settings of this indicator should be self-explanatory and most of them have tooltips for better understanding.
Pivot Point dan Level
Reversal pickerIs a tool used to determine market reversals, this tool is built of RSI and Moving Averages. Main aim of this tool is to help make market analysis easier by catching market reversal zones and alerting traders and investors about the market reversing and whether they should buy or sell.
What the tool do
- The tool catches market reversals
- The tool draw new support and resistance line for that period
- The tool alert you whether to buy or sell
How to use the tool
- Sell below resistance line and buy above support line
- The labels will guide you whether to buy or sell
- By default a red line is a resistance line and a green line is a support line
- By default a red label tells you to place a sell position and a green label tells you to place a buy position
Cuban's Reversion Bands V2Cuban's Reversion Bands V2
Cubans Reversion Bands, are a great indication of price overextension by using specified standard deviations, extended from a moving average basis line, the Volume Weighted Average Trend.
Reversion Bands V2 builds off the original foundation in a big way but utilizes completely new band logic and a more stable basis line, the stability leads to a more consistent band reversion zones.
The basis line is calculated with volatility metrics and long term range determinants.
The band extension points are then weighted on this basis line with the asset's average extensions taken into consideration to fit each asset individually.
Users gain the ability to customize:
EQ Sensitivity
Band Sensitivity
EQ sensitivity will control the reaction time of the basis line e.g. a comparison of the default 1, and below an increase EQ to 100:
1 EQ Sensitivity (Default)
100 EQ Sensitivity
Band Sensitivity will control the distance of deviation from the basis point, this can be used to fine tune the reversion location which could be useful in higher beta environments.
1 Band Sensitivity
100 Band Sensitivity
As a result of overextension we can take this as a means for a potential market shift, for example, in range bound conditions we expect the market to revert at the given reversion zones in the Cuban Reversion Bands V2.
Failure to revert at a band level, and extension above could signify a change in market structure and lead to a trending environment thus giving us the ability to determine a trending environment.
To Do:
alerts
implement additional confluence via other proprietary tools to increase the signal ratio
Multiple Divergences (UDTs - objects) - Educational█ OVERVIEW
This script highlights the usage of User-defined Types (UDTs) and objects , and bullish /bearish divergences.
Pivotpoints are used to find divergences, the result of this script will be different against other public multiple divergences scripts.
FOR Pine Script™ CODERS
Besides the information found in CONCEPTS , the comments in the script will, hopefully ), guide you through my thought process.
█ CONCEPTS
The main principle of this script are bullish /bearish divergences, this with 3 different oscillators ( RSI , CCI , MFI )
If you want to know more about divergences, have a look at some Education and Research idea's .
On every bar, an object HLs is made, containing bar_index , high , low , and 2 bool variables ( isPh , isPl ).
On every bar, an object Osc is made, containing bar_index , o (oscillator value), and 2 bool variables ( isPh , isPl ).
If a pivothigh (ph ) is found, isPh will be true on that bar, false otherwise.
If a pivotlow (pl) is found, isPl will be true on that bar, false otherwise.
These objects are added to an array, with limited size.
If a ph is found, the script draws a testline from that ph to every previous ph , found in the array.
Then every high in between these 2 points are checked if they don't pierce the testline .
If the testline isn't broken, the Reg_Div_Piv() function will give 4 values, 1 check (not pierced) variable and the 4 points of the line.
The testline is deleted.
Once a positive check is found, the script will perform the same, but now with the Osc objects.
The script will ONLY compare Osc pivots which are maximum 1 bar away from the high/low pivot .
If everything is confirmed, a line is drawn, visible on the chart.
█ REMARKS
A label will be visible with a number, this is the amount of divergences found with the according oscillator .
EXAMPLE
Div with RSI and CCI -> 2
Div with MFI alone -> 1
Div with RSI and CCI and MFI -> 3
...
Divergences should only be used when confirmed, this is after bar close .
As an aid, lines that are not confirmed will be dotted , if confirmed, they will be solid .
The divergence check start when a ph/pl is found, after which oscillator pivot are checked.
Optionally the same can be done, when a oscillator pivot is found and then check the ph/pl ,
this should give more results, although it can make the script slower.
█ SETTINGS
Left - amount of bars at the left which needs to be lower/higher
Right - amount of bars at the right which needs to be lower/higher
Max values - maximum values in array of objects
3 oscillator settings with
• ON/OFF
• Length
• color bullish divergence
• color bearish divergence
Have FUN !
Trading Channel for BTCThe goal is to visualize, through basic but robust information, a channel that frames the price action, whose referenced limits and lines are indicative of potential entries and exits.
It is a simple but enormously reliable base for the development of different strategies.
The parameters for the script have been optimized for BTC. It shows good results in all time frames.
Red lines: support of closures and lows (indicative of potential points of purchase).
Green lines: resistance of closures and highs (indicative of potential points of sale).
Orange-gray line: proposed stop loss for long positions, at a ratio of 2:1.
Yellow line: midpoint of channel (as a reference for trend change detection or even possible take-profits).
White line: 8-period simple moving average (SMA).
Gray line: 21-period SMA.
Pink line: standard pivot.
Purple line: 3-period simple moving average pivot.
Blue lines (deactivated by default): standard range of support and resistance pivots (according to the studies of John L. Person).
A channel of support and resistance indicative of potential entry points is shown, both for short and long positions. The channel is based on the closures and the lowest and highest lows and highs of the last 21 periods, shifted one period.
In addition to showing the channel of support and resistance, the script also includes the display of two SMAs (simple moving averages) of 8 and 21 periods, as well as standard and 3-period simple moving average pivots, which can be used as support for entry decisions.
The script allows the user to develop more or less aggressive strategies, conditioning the entries to the price's contact, closure, or distance from the different proposed support and resistance lines, and confirming the same entries through possible SMA and/or pivot crosses, and exits in the same way.
The standard range of support and resistance lines, deactivated by default, is a consultation tool for the higher time frames (month, week, day) for the location of strong supports and resistances that may recommend or, on the contrary, discourage the execution of entries.
The strong point of the script is the visualization of a reliable channel within which the price action develops with basic and repetitive behavior: when the price touches one of the limits, it then goes to the opposite one. Based on that foundation, with the help of the indicators that are most familiar and/or reliable for the user, an infinity of strategies suitable for all types of traders can be developed.
This script is just a consultation tool with didactic goals, it should not be used as an investment recommendation and the information provided should not be relied upon as such.
----------
Se pretende visualizar por medio de información básica pero robusta, un canal que enmarca la acción del precio, cuyos límites y líneas referenciadas son indicativos de potenciales entradas y salidas.
Resulta una base simple pero enormemente confiable para el desarrollo de diferentes estrategias.
Los parámetros para el script han sido optimizados para BTC. Muestra buenos resultados en todos los marcos temporales.
Líneas rojas: soportes de cierres y mínimos (indicativas de puntos potenciales de compra).
Líneas verdes: resistencias de cierres y mínimos (indicativas de puntos potenciales de venta).
Línea gris anaranjada: propuesta de stop loss para posiciones en largo, a razón de 2:1.
Línea amarilla: punto medio de canal (como referencia para detección de cambios de tendencia o incluso posibles take-profit).
Línea blanca: SMA (promedio móvil simple) de 8 periodos.
Línea gris: SMA de 21 periodos.
Línea rosa: pivote estándar.
Línea morada: pivote de media simple de 3 periodos.
Líneas azules (desactivadas por defecto): abanico de pivotes de soportes y resistencias estándar (según los estudios de John L. Person).
Se muestra un canal de soportes y resistencias indicativas de puntos potenciales de entradas tanto en corto como en largo. El canal se basa en los cierres y los mínimos y máximos más bajos y más altos de los últimos 21 periodos, desplazados un periodo.
Además de mostrar el canal de soportes y resistencias, el script incluye también la visualización de dos SMA's (promedios móviles simples) de 8 y 21 periodos, así como pivotes estándar y de media simple de 3 periodos, que se pueden utilizar como apoyo para las decisiones de entrada.
El script permite al usuario desarrollar diferentes estrategias más o menos agresivas, condicionando las entradas al contacto, al cierre o al alejamiento del precio respecto a las diferentes líneas de soporte y resistencia propuestas, pudiendo confirmar las mismas entradas por posibles cruces de SMA's y/o pivotes, y las salidas de igual manera.
El abanico de soportes y resistencias estándar, desactivadas por defecto, son herramienta de consulta para los marcos temporales más altos (mes, semana, día) para localización de resistencias y soportes fuertes, que pudieran recomendar o, por el contrario, desaconsejar la ejecución de entradas.
El punto fuerte del script es la visualización de un canal confiable dentro del que se desarrolla la acción del precio con un comportamiento básico y repetitivo: al tocar el precio uno de los límites, se dirige después al opuesto. Sobre esa base, con la ayuda de los indicadores que resulten más conocidos y/o confiables para el usuario, se pueden desarrollar infinidad de estrategias adecuadas para todos los tipos de trader.
Este script es solo una herramienta de consulta con objetivos didácticos, no debe ser utilizado como recomendación de inversión y no se debe confiar en ella como tal.
BullBarbie's Automagical Psych Levels v1.1This indicator does one thing (and it does it extremely well)...
Automatically plot levels at a set a set interval in a set range to create psychological levels on your chart.
There are 3 Options:
1) The price range in which you'd like to plot these level lines
2) The interval (price range) between the levels
3) The color/style you'd like the line to by
No nonsense, just KISS: Keep It Simple, Silly.
I created this script to easily add psychological (psych) levels to my most watched charts, especially the Indexes such as SPX, SPY, QQQ... I hope you enjoy it.
OTE optimal trade entry (ICT); visible chart only: Dynamic-simple tool based on ICT free YouTube material of many years.
-Highlights a box showing Optimal Trade Entry (OTE): 61.8% - 78.6% retracement
-Auto shifts depending on Bull or Bear move on chart.
--If visible chart is Bullish (low then high): shows OTE box 61.8-78.6% retracement down from the high
--If visible chart is Bearish (high then low): shows OTE box 61.8-78.6% retracement up from the low
-Thanks the use of PineCoders Visible Chart Library, and some of the example code there
Saty Pivot RibbonA 3 EMA Ribbon + Conviction EMAs system that simplifies measuring and using EMAs for trend and support/resistance . If you are familiar with using a faster EMA (8 or 9) with a pivot EMA (21) you should feel right at home.
Features include:
- 3 EMA Trend Ribbon (8, 21, 34 default)
- 2 color system for showing bullish trend (green + blue)
- 2 color system for showing bearish trend (red + orange )
- Ribbon folding visual indicates EMA crossover
- Conviction Arrows based on 13/48 EMA crossover
- 13/48 Conviction EMAs
- Time Warp: Warp the Ribbon into a different timeframe than the chart.
Inspired by Ripster EMA Clouds.
Support Resistance - Dynamic v2 w/ Timeframe optionThis script is a modification from the awesome "Support Resistance - Dynamic v2" by @LonesomeTheBlue
This script is very similar to the original indicator mentioned above, but with a modification that, in my opinion, would be very useful for many traders. It enables the option to choose different timeframe to calculate the S/R levels. Very often, traders would like to use higher timeframes to define S/R levels, rather than using the same timeframe that they are trading at. For example, if trading at 5min, we often use 15min, 30min or 1hr timeframe to define our S/R levels.
For example, below shows S/R levels from three different timeframes:
Hope you find value in this indicator~ Enjoy~
Assassin's Grid
Introduction: Are you a fan of automated grid-based trading and holding onto your crypto assets like they're the last Snickers bar in the world? If so, this Pine script could be your new best friend!
Grid Trading Genius: The script uses some seriously advanced grid trading techniques to automatically place orders at different price levels, creating a mesh of positions that move with the market like a well-oiled machine. This strategy can be great for traders who are willing to sit back and let their positions grow like a fine wine over time.
Optimization Features: The script comes loaded with all sorts of features and tools to help traders optimize their grid positions, like position exits and custom alerts for creating limit and market orders. This helps keep traders in the loop and allows them to take action as needed, like a ninja in the night.
Unique Twists: One of the unique features of this script is the option to choose between normal or incremental entry steps in a 1,2,3,... ratio. By choosing incremental entries, traders can potentially improve their average price and increase their potential profits like a boss. Just keep in mind that this script doesn't have a stop loss feature, but it does include the option to sell without profit on the final entry or on all entries if desired. Additionally, the script is always open to improvement and any ideas for improving it are welcome, like a blank canvas.
Conclusion: If you love automated trading and have the patience and determination to stick to a solid strategy, this Pine script could be a great fit for you. It's suitable for traders who are comfortable with more complex trading approaches and are willing to put in the time and effort to learn and master the script's various features and techniques, like a Jedi Knight
LiquidationsFirst, thanks to the following Tradingview community members for providing open source indicators that I used to develop this indicator!
Liquidations by volume (spot/futures) - @Thomas_Davison
Pivot and liquidation lines - @lmatl
Let me know if either of you do not approve and I will remove the indicator.
This indicator uses pivot points, volume and a liquidation percentage to determine potential liquidation levels. These are not exact but can give traders an idea of potential support or resistance levels.
Pivot points: Currently the pivot points are set to look left 5 bars and right 2 bars. This will determine the high and lows in the chart.
Volume: Assuming that high volume bars are where more leverage is used, this indicator uses the average volume over a 1000 bar period to determine to determine a baseline. I have arbitrarily set 100x lines to 20% above the average volume, 50x lines 10% above, 25x lines 5% above, 10x lines 2.5% above and 5x lines 1.25% above.
Liquidation: Finally, we are making a few assumptions on how liquidations are calculated. The following table includes the percentage a position can decline before being liquidated.
Short: Long:
100x 0.51% 0.49%
50x 1.55% 1.47%
25x 3.70% 3.38%
10x 5.11% 4.67%
5x 6.705% 6.115%
Let me know if there are any questions or if anyone has any improvements!
Liquidation Levels V2 (Ultimate Edition)!(version 2.0) - Covers ALL pairs from Binance futures (USDT)!
The Liquidations Level Indicator is a new, fresh and innovative indicator that adds a new perspective into the charts.
The indicator plots (in real time !), the liquidation points/levels that are "created" for every new position that is currently opened in futures trading of a cryptocurrency.
The calculation and the plots work for both directions (either longs or shorts).
How it is done: We calculate all new large positions opened by other traders, by taking into account the Open Interest from major exchanges.
For each new large position that is opened, the indicator plots in the chart the liquidation levels for the specific position per leverage level (100x, 50x or 25x).
This is exactly what the Market Maker knows!
In crypto, the Market Maker, tends to push the price to these levels, making these levels targets.
You could combined it with any other Technical Analysis indicator you used to trade.
Add it to your favorites indicators and enjoy the price action. You will soon realize that our indicator can be a game-changer indicator !
Soon, we will add some here in TradingView, some ideas and strategies that we have already used with this indicator with success.
Here, a new game starts for you..and the Market Maker. Don't trade against him, trade with him (!)
_____________________________
Notes:
_____________________________
1) Second version supports allt the USDT crypto that are tradable on Binance futures (at least).
Right now you can use any of them (e.g. BTC , ETH, BNB, XRP, ADA, SOL, DOT, DOGE, MATIC, LTC, ATOM, , etc. )
paired with one of the above stablecoins:
USD, USDT, USDC , or BUSD.
2) You can adjust the lower limit to take into account for new positions (total amount is in millions USD/USDT/ USDC ), so you can filter the positions and display only the large ones.
This adjustment is up to you and it is different for each coin, as they have huge differences in Total Market Cap and the Total amount trading per day.
BTC is almost always first, and then ETH, Luna, etc. From our experience a amount of 5m in USD fits for BTC , 2m USD for ETH, and you can of course switch it.
3) Don't use the indicator with any other pair, except the above ( /USD, /USDT, /BUSD or / USDC ). The Open Interest is calculated per USD, so if you project this over a crazy pair (e.g. BTC /LTC) it will not project anything.
4) Initial version supports reading the Open Interest from Binance. Upcoming versions will expand this, as an option.
_____________________________
Extras:
_____________________________
This was our first effort to build something for the crypto community, that can be useful and of course free.
We hope we like it. If you like the indicator, just spread it.
Bagang Pivot Zones | Supply & Demand, Support & ResistanceBagang Pivot Zones detects imbalances from classic reversal and momentum price actions.
Imbalances create pivot zones, a.k.a Supply & Demand / Support & Resistance / Orderblock zones.
Use Cases
1. Traders using Supply & Demand theory can quickly pinpoint imbalance zones created by BUY-to-SELL and SELL-to-BUY candles.
2. Trend Following traders can systematically catch and follow a trend based on pivot zones analysis.
3. Breakout traders can easily target pivot zones’ breakout and breakdown.
4. Take the guesswork out of risk management: manage stop-loss precisely behind pivot zones.
5. Analyze contrary pivot zones to set realistic profit targets.
Objectivity
By only comparing OHLC values to identify notable price actions, Bagang Pivot Zones avoids derived calculations with subjective parameters.
Chart Issue
If the chart zooms out after adding an indicator, right-click the price scale and toggle "Scale price chart only” on.
Expected LiquiditySimple but effective script that displays Liquidity Premium/Discount areas in an adaptive way based on key Fibonacci levels.
You can increase or decrease the 'Period' value in the Settings to adjust the gap between the lines as you see fit.
By default the value is '46' which should suit most markets.
- The script contains Alerts which are triggered when a liquidity line is crossed by the price.
Good trading to all and don't forget, risk management remains the most important!
VF-ST-EMA-CPRVolatility and Fibonacci table helps to identify support and resistance for the day/week. Similarly, the CPR (Central Pivot Range) table helps to identify the support and resistance for the day/week. Additionally use SUpertrend and EMA to identify trends.
Disclaimer:
This indicator is for educational or study purposes. There is no recommendation to buy or sell any scrip here. Take your own risks and rewards and you are only
responsible for any outcome after using this indicator.
ASE Additionals v1ASE Additionals is a statistics-driven indicator that combines multiple features to provide traders with valuable statistics to help their trading. This indicator offers a customizable table that includes statistics for VWAP with customizable standard deviation waves.
Per the empirical rule, the following is a schedule for what percent of volume should be traded between the standard deviation range:
+/- 1 standard deviation: 68.26% of volume should be trading within this range
+/- 2 standard deviation: 95.44% of volume should be trading within this range
+/- 3 standard deviation: 99.73% of volume should be trading within this range
+/- 4 standard deviation: 99.9937% of volume should be trading within this range
+/- 5 standard deviation: 99.999943% of volume should be trading within this range
+/- 6 standard deviation: 99.9999998% of volume should be trading within this range
The statistics table presents five different pieces of data
Volume Analyzed: Amount of contracts analyzed for the statistics
Volume Traded Inside Upper Extreme: Calculated by taking the amount of volume traded inside the Upper Extreme band divided by the total amount of contracts analyzed
Volume Traded Inside Lower Extreme: Calculated by taking the amount of volume traded inside the Lower Extreme band divided by the total amount of contracts analyzed
Given the user’s inputs, they will see the upper and lower extremes of the day. For example, if the user changed the inner st. dev input to 2, 95.44% of the volume should be traded within the inner band. If the user changed the outer st. dev input to 3, 99.73% of the volume should be traded within the outer band. Thus, statistically, 2.145% ((99.73%-95.44%)/2) of volume should be traded between the upper and lower band fill.
In the chart above, the bands are the 2nd and 3rd standard deviation inputs. We notice that out of the 151 Million Contracts , the actual percentage of volume traded in the upper extreme was 2.7% , and the actual percentage of the volume traded in the lower extreme was 3.3% . Given the empirical rule, about 2.145% of the volume should be traded in the upper extreme band, and 2.145% of the volume should be traded in the lower extreme band. Based on the statistics table, the empirical rule is true when applied to the volume-weighted average price.
The trader should recognize that statistics is all about probability and there is a margin for error, so the bands should be used as a bias, not an entry. For example, given the +/-2 and 3 standard deviations, statistically, if 2.145% of the volume is traded within the upper band extreme, you shouldn’t look for a long trade if the current price is in the band. Likewise, if 2.145% of the volume is traded within the lower band extreme, you shouldn’t look for a short trade if the current price is in the band.
Additionally, we provide traders with the Daily, Weekly, and Monthly OHLC levels. Open, High, Low, and Close are significant levels, especially on major timeframes. Once price has touched the level, the line changes from dashed/dotted to solid.
Features
VWAP Price line and standard deviation waves to analyze the equilibrium and extremes of the sessions trend
Previous Day/WEEK/Month OHLC levels provide Major timeframe key levels
Settings
VWAP Equilibrium: Turn on the VWAP line
VWAP Waves: Turn on the VWAP standard deviation waves
Inner St. Dev: Changes the inner band standard deviation to show the percentage of volume traded within
Outer St. Dev: Changes the outer band standard deviation to show the percentage of volume traded within
Upper Extreme: Change the color of the upper VWAP wave
Lower Extreme: Change the color of the lower VWAP wave
Wave Opacity: Change the opacity of the waves (0= completely transparent, 100=completely solid)
Statistics Table: Turn on or off the statistics table
Statistics Table Settings: Change the Table Color, Text Color, Text Size, and Table Position
Previous Day/Week/Month OHLC: Choose; All, Open, Close, High, Low, and the color of the levels
OHLC Level Settings: Change the OHLC label color, line style, and line width
How to Use
The VWAP price line acts as the 'Fair Value' or the 'Equilibrium' of the price session. Just as the VWAP Waves show the session's upper and lower extreme possibilities. While we can find entries from VWAP , our analysis uses it more as confirmation. OHLC levels are to be used as support and resistance levels. These levels provide us with great entry and target opportunities as they are essential and can show pivots in price action.
AutoLevelsAuto Levels is a Work in progress.
It is based on the previous days ATR and the current days opening tick.
It takes that info and uses Fibonacci to automatically draw key levels for the day.
I have added the BULL BAR ( Green bar ) and Bear Bar ( Red Bar ) to signal as a Go Long / Go Short line in the sand.
The Tan bars are also proven key "Take Profit" levels.
These are, on average, major points of reversals, dip buys or consolidation.
I use this on the 5min timeframe and a close above or below a key level is my signal and direction. Auto Levels have proven to be a great indicator of major support and resistance.
Fixed Fibonacci Support ResistanceI took the formula of the fibonacci from LonesomeTheBlue and made this script. You can take a look at his indicator here:
When you first add the indicator on the chart, click on the chart to select the first date and then the second date. It will then calculate the fibonacci support and resistance of the range you choose. You can also choose the date inside the inputs.
Be sure the first date is before the second date, otherwise it won't be able to show the fibonacci. If that happen, choose a correct date in the inputs.
Midnight Open NY TimeMidnight Open shows opening price of the first candle after New York Midnight.
According to ICT, this is what IBPDA - Inter Bank Price Delivery Algorithm - sees as a true market opening and we should aim for shorts above it (sell for premium) and longs below it (buy at discount).
ICT NY Futures Indices Session Model - YT New York MentorshipThis indicator plots out the time periods and open lines as outlined in ICT's 2022 Mentorship and is designed specifically for the New York futures trading session.
Time zone is set to GMT-4 (NY) by default but can be changed for accommodate daylight saving in the menu.
Please note this indicator is to be used only on the 30min timeframe and below.
Here are its features:
The background color shows the morning session, in two parts (8.30am to 9.30am and 9.30am to 11.30am), then a two hour gap for lunch (ICT calls this "Dead time") and finally, the afternoon session, also to two (1.30pm to 3pm and 3pm to 4pm).
It not only shows the current killzones, but future zones as well.
These times are important; trades can be framed within these zones as taught in the mentorship.
Next are the open lines. These lines are automatically plotted and can be areas for price to react off of; they are the opening price of a candle at these times:
00.00 (New York Midnight, also known as "True Day Open")
8.30am (New York Equities pre-open)
9.30am (New York Equities open)
2.00am (London Stock Exchange open)
And lastly, London's trading session High and Low are projected forward onto the New York trading session.
These two price points are areas of liquidity that were pooled during London, but they can also often set the high or low of the day.
Please let me know if there are any bugs or if you have suggestions for the next update.
Average Daily Range Expansion Remaindeer for DaytradingThis indicator shows how much will the price need to go to fill its Average Daily Range based on the last 5 days (before today).
5-day ADR is used in concepts by ICT, Poltoratskiy and number of others.
Generally speaking, we would like to enter when there is a lot of room for price movement.
Outer lines are a full expansion. If the price moves only upside from the opening bell, it will reach as far.
Inner lines are a remaining expansion required to hit ADR. If the price initially moves in one direction and then reverses, this drip is substracted. This is more important metric!
Trading BehnamI've read around here various definitions for engulfs along the lines of "an engulf consumes all orders at a level to allow price to easily pass through it." . That doesn't make much sense to me, if the guys with billions of dollars want to break a level, they will break it and price will run off very often. We've seen it time and time again, they don't need to engulf levels to give us a nice opportunity to get into the trade with them, if they want to blast through a level, they will do so and price will run off. If they want an opportunity to accumulate more orders before price runs away, then it doesn't make sense to engulf the level, better to let price bounce from that level and then fill more orders, if the level breaks then they have to deliberately stop the market running away and move it back to the pre-engulf area as the market momentum would naturally make it run off after an engulf. Other ideas about it being a secret signal between the institutions don't make sense to me either. To be honest, I think any secret signals between competing institutions come in the form of them in a heavily encrypted chatroom telling each other what to do. This collusion has been reported on previously as traders align their activities at important moments.
So I think we can all agree something along the lines of:
Fakeout:
Fakeout is an engulf of an obvious swing high/low in order to stop out traders and induce breakout traders to trade in the wrong direction, thus generating liquidity for the move in the opposite direction.
What's not so clear is the definition of the engulf, I'd like to try to give some ideas on the purpose of the engulf and it's definition and see what others think.
Engulf:
An engulf is the consumption of orders at an important level, not necessarily a swing/high low but an area where we expect to see supply or demand. Taking out of the orders tells us that the supply or demand which was or should have been present is now not present and tells us the intent direction of the market. If price runs off as is often the case, this is not tradeable and is effectively just a "breakout", although breakouts are usually considered to be breaks of swing high and lows which are obvious to the average trader. For an engulf to be tradeable there must be a retrace following the engulf back in the original direction. This adds confusion as it initially resembles a fakeout. So the question is, why does price retrace after the engulf? If an engulf to the short side is a genuine engulf and not a fakeout to generate long liquidity, why does it not travel immediately south if market momentum is ultimately south.
A small pocket of demand beneath the engulfed level may make it retrace north as price moves between areas of liquidity, this pocket of demand may give price enough momentum to make it back up to the supply which broke the demand level if key market participants do not favour an immediate market drop.
Alternatively key market participants may step in and drive the market back upwards.
Price moving north back to supply after the engulf may occur or be favourable for various reasons:
1) We often talk about FO generating liquidity because of breakout trading, but an engulf can also generate liquidity from breakout traders. Short breakout traders would place their stop losses a small distance above the engulf (breakout). If key players absorb this selling or allow a demand level to push price back up, they can run price back up to supply taking out the stops of the breakout short traders and make quick profit and/or generate more liquidity for their own shorts.
2) To confuse traders, the ITs don't want the puzzle that is Forex to be easy to solve, if price never retraced after an engulf then engulfs of all levels would be FOs. Price would either break and immediately runoff or it would turn and runoff in the other direction. In order to keep people confused about whether price is faking out or breaking out, sometimes price should whipsaw by breaking out, briefly faking out and then continuing in the direction of the breakout. This whipsaw pattern is to us a tradeable engulf.
3) Market momentum may be mixed, key players are indecisive or inactive or the market is behaving erratically.
4) As previously mentioned there may be a small pocket of supply/demand just past the engulf which is causing a reaction. This could also be viewed as a FO on a different timeframe. If the market engulfs an H1 demand level, then retraces for 30 mins upwards to supply, this engulf would be a valid and very profitable FO for an M1 trader looking to get long.
Waves CorrectionsWave theory tool for tracking waves relations and their corrections. It filters out a sets of formations and count how often correction from them are reaching characteristic correction levels marked on the chart as CL1, CL2, CL3.
It supports 2 rulesets/wave variants:
Low - Based on more sensitive trend detection.
Medium - Based on less sensitive trend detection.
Script settings:
| SCANNER |
Trend type - Trend used by scanner to detect sets of waves.
L - Low
M - Medium
<= W1/W2 * 100% <= - Tresholds describing proportions between 1 and 2 wave in the set.
<= W3/W1 * 100% <= - Tresholds describing proportions between 3 and 1 wave in the set.
<= W3/W2 * 100% <= - Tresholds describing proportions between 3 and 2 wave in the set.
Show potencial areas - Showing underway sets
Show Arrows - Showing arrows with possible correction on underway set.
Correction from trend UP - Background and border colors for found sets in up trends
Correction from trend Down - Bakcground and border colors for found sets in down trends.
History - Showing sets in historic data.
Stats - Type of statistic table shown on the screen:
H - Hide
% - Statistics with normal font
%s - Statistics with small font
Wn n= - Picking how many waves are taken into account when calculating statistics .
| TREND VISUALIZATION |
Type - Trend visualization types:
H - Hidden
L - Low
M - Medium
B - Both
Alfred - AI assistant that informs about wave confirmation or trend changes (With "Both" type Alfred will monit only Medium wave).
Shadow - Showing second reprezentation of the trend with drawing with the use of minimal and maximal values. It's usefull to determine the delay between the peak and a wave change signal.
Low/Med Line width/color - Width/color of drawn line. Separate setting for Low and Medium trend type.
| IMPULS VISUALIZATION |
Impuls - Drawing impuls modes:
H - Hidden
F - First
S - Second
A - Auto
Impuls color - Color of the first bullish arrow.
Draw arrow - Drawing arrow at the end of the first bullish arrow.
Troubleshooting:
In case of any problems, send error details to the author of the script.
