CPR with inside candle, Pivot Points and 4EMA The CPR trading strategy is a technical analysis approach that combines multiple indicators to determine potential price levels and trading opportunities. The strategy uses three main components: Inside Candles, Pivot Points, and the 4EMA.
Inside Candles: The Inside Candle pattern is a candlestick pattern where the current candle has a lower high and a higher low than the previous candle. This pattern can indicate a period of consolidation or indecision in the market and can signal a potential reversal or continuation of the trend.
Pivot Points: Pivot Points are technical indicators that use the previous day's price data to calculate key levels of support and resistance for the current trading day. These levels can act as potential areas of buying or selling pressure and can help traders identify potential entry and exit points.
4EMA: The 4EMA is a short-term Exponential Moving Average that tracks the average price of an asset over the previous four periods. This indicator is used to help identify short-term trends in the market and can signal potential buying or selling opportunities.
To apply the CPR strategy, traders first look for Inside Candles on their chart, indicating a period of consolidation or indecision in the market. Next, they identify the Pivot Points for the current trading day, which can act as potential areas of support or resistance. Finally, traders use the 4EMA to confirm the direction of the trend and potential entry or exit points.
For example, if an Inside Candle forms at a Pivot Point level and the 4EMA is indicating an uptrend, this could be a potential buying opportunity. Conversely, if an Inside Candle forms at a Pivot Point level and the 4EMA is indicating a downtrend, this could be a potential selling opportunity.
Pivot Point dan Level
Parallel Projections [theEccentricTrader]█ OVERVIEW
This indicator automatically projects parallel trendlines or channels, from a single point of origin. In the example above I have applied the indicator twice to the 1D SPXUSD. The five upper lines (green) are projected at an angle of -5 from the 1-month swing high anchor point with a projection ratio of -72. And the seven lower lines (blue) are projected at an angle of 10 with a projection ratio of 36 from the 1-week swing low anchor point.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a high price equal to or above the price it opened.
• A red candle is one that closes with a low price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Trendlines
Trendlines are straight lines that are drawn between two or more points on a price chart. These lines are used as dynamic support and resistance levels for making strategic decisions and predictions about future price movements. For example traders will look for price movements along, and reactions to, trendlines in the form of rejections or breakouts/downs.
█ FEATURES
Inputs
• Anchor Point Type
• Swing High/Low Occurrence
• HTF Resolution
• Highest High/Lowest Low Lookback
• Angle Degree
• Projection Ratio
• Number Lines
• Line Color
Anchor Point Types
• Swing High
• Swing Low
• Swing High (HTF)
• Swing Low (HTF)
• Highest High
• Lowest Low
• Intraday Highest High (intraday charts only)
• Intraday Lowest Low (intraday charts only)
Swing High/Swing Low Occurrence
This input is used to determine which historic peak or trough to reference for swing high or swing low anchor point types.
HTF Resolution
This input is used to determine which higher timeframe to reference for swing high (HTF) or swing low (HTF) anchor point types.
Highest High/Lowest Low Lookback
This input is used to determine the lookback length for highest high or lowest low anchor point types.
Intraday Highest High/Lowest Low Lookback
When using intraday highest high or lowest low anchor point types, the lookback length is calculated automatically based on number of bars since the daily candle opened.
Angle Degree
This input is used to determine the angle of the trendlines. The output is expressed in terms of point or pips, depending on the symbol type, which is then passed through the built in math.todegrees() function. Positive numbers will project the lines upwards while negative numbers will project the lines downwards. Depending on the market and timeframe, the impact input values will have on the visible gaps between the lines will vary greatly. For example, an input of 10 will have a far greater impact on the gaps between the lines when viewed from the 1-minute timeframe than it would on the 1-day timeframe. The input is a float and as such the value passed through can go into as many decimal places as the user requires.
It is also worth mentioning that as more lines are added the gaps between the lines, that are closest to the anchor point, will get tighter as they make their way up the y-axis. Although the gaps between the lines will stay constant at the x2 plot, i.e. a distance of 10 points between them, they will gradually get tighter and tighter at the point of origin as the slope of the lines get steeper.
Projection Ratio
This input is used to determine the distance between the parallels, expressed in terms of point or pips. Positive numbers will project the lines upwards while negative numbers will project the lines downwards. Depending on the market and timeframe, the impact input values will have on the visible gaps between the lines will vary greatly. For example, an input of 10 will have a far greater impact on the gaps between the lines when viewed from the 1-minute timeframe than it would on the 1-day timeframe. The input is a float and as such the value passed through can go into as many decimal places as the user requires.
Number Lines
This input is used to determine the number of lines to be drawn on the chart, maximum is 500.
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
If the lines do not draw or you see a study error saying that the script references too many candles in history, this is most likely because the higher timeframe anchor point is not present on the current timeframe. This problem usually occurs when referencing a higher timeframe, such as the 1-month, from a much lower timeframe, such as the 1-minute. How far you can lookback for higher timeframe anchor points on the current timeframe will also be limited by your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000.
█ RAMBLINGS
It is my current thesis that the indicator will work best when used in conjunction with my Wavemeter indicator, which can be used to set the angle and projection ratio. For example, the average wave height or amplitude could be used as the value for the angle and projection ratio inputs. Or some factor or multiple of such an average. I think this makes sense as it allows for objectivity when applying the indicator across different markets and timeframes with different energies and vibrations.
“If you want to find the secrets of the universe, think in terms of energy, frequency and vibration.”
― Nikola Tesla
Fan Projections [theEccentricTrader]█ OVERVIEW
This indicator automatically projects trendlines in the shape of a fan, from a single point of origin. In the example above I have applied the indicator twice to the 1D SPXUSD. The seven upper lines (green) are projected at an angle of -5 from the 1-month swing high anchor point. And the five lower lines (blue) are projected at an angle of 10 from the 1-week swing low anchor point.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a high price equal to or above the price it opened.
• A red candle is one that closes with a low price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Trendlines
Trendlines are straight lines that are drawn between two or more points on a price chart. These lines are used as dynamic support and resistance levels for making strategic decisions and predictions about future price movements. For example traders will look for price movements along, and reactions to, trendlines in the form of rejections or breakouts/downs.
█ FEATURES
Inputs
• Anchor Point Type
• Swing High/Low Occurrence
• HTF Resolution
• Highest High/Lowest Low Lookback
• Angle Degree
• Number Lines
• Line Color
Anchor Point Types
• Swing High
• Swing Low
• Swing High (HTF)
• Swing Low (HTF)
• Highest High
• Lowest Low
• Intraday Highest High (intraday charts only)
• Intraday Lowest Low (intraday charts only)
Swing High/Swing Low Occurrence
This input is used to determine which historic peak or trough to reference for swing high or swing low anchor point types.
HTF Resolution
This input is used to determine which higher timeframe to reference for swing high (HTF) or swing low (HTF) anchor point types.
Highest High/Lowest Low Lookback
This input is used to determine the lookback length for highest high or lowest low anchor point types.
Intraday Highest High/Lowest Low Lookback
When using intraday highest high or lowest low anchor point types, the lookback length is calculated automatically based on number of bars since the daily candle opened.
Angle Degree
This input is used to determine the angle of the trendlines. The output is expressed in terms of point or pips, depending on the symbol type, which is then passed through the built in math.todegrees() function. Positive numbers will project the lines upwards while negative numbers will project the lines downwards. Depending on the market and timeframe, the impact input values will have on the visible gaps between the lines will vary greatly. For example, an input of 10 will have a far greater impact on the gaps between the lines when viewed from the 1-minute timeframe than it would on the 1-day timeframe. The input is a float and as such the value passed through can go into as many decimal places as the user requires.
It is also worth mentioning that as more lines are added the gaps between the lines, that are closest to the anchor point, will get tighter as they make their way up the y-axis. Although the gaps between the lines will stay constant at the x2 plot, i.e. a distance of 10 points between them, they will gradually get tighter and tighter at the point of origin as the slope of the lines get steeper.
Number Lines
This input is used to determine the number of lines to be drawn on the chart, maximum is 500.
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
If the lines do not draw or you see a study error saying that the script references too many candles in history, this is most likely because the higher timeframe anchor point is not present on the current timeframe. This problem usually occurs when referencing a higher timeframe, such as the 1-month, from a much lower timeframe, such as the 1-minute. How far you can lookback for higher timeframe anchor points on the current timeframe will also be limited by your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000.
█ RAMBLINGS
It is my current thesis that the indicator will work best when used in conjunction with my Wavemeter indicator, which can be used to set the angle. For example, the average wave height or amplitude could be used as the value for the angle input. Or some factor or multiple of such an average. I think this makes sense as it allows for objectivity when applying the indicator across different markets and timeframes with different energies and vibrations.
“If you want to find the secrets of the universe, think in terms of energy, frequency and vibration.”
― Nikola Tesla
Diddly - Liquidity ZonesDiddly Liquidity Zones is an indicator to highlight where the liquidity exists in a market place.
What is Liquidity
Liquidity refers to the ability of an asset to be turned into cash. Cash is the more liquid form of any asset, whereas selling a house would take a little longer to liquidate and convert to cash.
Liquidity in financial markets is in essence based on the same principle and refers to how easily an asset can be bought and sold.
Liquidity in simple terms is the volume of participants who are willing to be involved in the market at any given time. Markets are based on auction theory, the more participants who want to buy at a certain price than sell, will dictate that the price goes up. As a result it is important to understand the role that volume has in financial markets, as volume will directly correlate to liquidity and supply and demand.
What does it mean?
Areas of abnormal liquidity and volume can lead to a price range where there is high supply and demand, which in turn can become a zone that forms a support and resistance level in the future. As we all know what happens in the past does not mean it will happen in the future, but what liquidity zones will tell us is that in the past a higher number of people were interested in doing business at those prices, which is critical information when making trading decisions.
Although markets are based on auction theory, sadly we don't have the advantage of a traditional auction, where we are all sitting in a room putting our hands in the air when we are interested in paying x price for a particular item. In this environment it is very clear to see how popular the item for sale is and whether it is possible to pick up a bargain.
Being able to identify liquidity areas on a chart, provides an insight into market sentiment at a given price range. Also we have to consider that typically most retail traders participate in very liquid markets, where you can get in and out of a position with relative ease.
There are obviously exceptions, extremely low float stocks, but on the whole with liquid assets it takes some big orders to move price, especially with currencies and high float stocks. Understanding these principles helps us as retail traders identify where the big money is seeing a bargain, if buying or overpriced if selling.
However you identify liquidity, I hope you agree that it is an extremely important element to be considering before taking a trade. The last thing any trader wants to be doing if they can help it, is selling where the market perceives price to be a bargain and buying when overpriced.
Just as a side note, high and low "Float Stocks" refers to the number of shares in general circulation for buying and selling.
What is Diddly Liquidity Zones
This liquidity zones indicator in simple terms will plot zones on the chart and make an assessment of whether this is predominately buying or selling liquidity. Price will frequently come back to test areas of liquidity before making any further continuation in a specific direction. This is why liquidity zones are often described as areas of support and resistance.
How does it Work
To identify these zones the indicator is looking at a number of pieces of information predominantly based on volume.
Volume
Rate of Change
Relative Strength
From these calculations the algorithm is then looking for the standard deviation away from the normal, to identify exceptions that then become the liquidity zones. These can be classified up to 4 levels, the first being the weakest exception to four being the strongest. By default 3 levels are displayed.
What is the Indicator Showing me?
The Liquidity Zones indicator comprises two basic elements: Bull Zones and Bear Zones.
Zones that are not broken in the past are projected forward and can act as strong support and resistance levels that can also be used for targets or ignoring a trade due to lack of room above or below.
Here on AUDCHF 15 minute chart, during March 2023, it provides an example of the three indicator zone types. Details have been annotated on the chart.
The third type of zone is a “Trap Zone” which can be extremely powerful for identifying potential reversals. A Trap Zone can be either Trapped Buyers or Trapper Sellers. In essence it is a Zone that is identified, but price can never trade above or below in the direction of the zone.
As an example if a bear zone is identified and price fails to trade below the lower edge and bounces immediately out of the top. The trap is set and the indicator changes the zone from the default green (bull) or red (bear) zone to a different colour, which is orange by default.
As price moves higher away from the zone, those in their short positions start to feel the pain. The higher the move away before a retracement the higher the pain. When the retracement finally comes and price returns to the zone, you will often see price bounce off the zone for the move back to retest the highs, following the same principles of support and resistance.
In this example above a resistance level is broken, which has been identified by a volume exception identified by the indicator, when price returns to that area it now becomes support as those traders in short positions look to cover at breakeven.
Here on EURUSD 15 minute chart, during the last week in March 2023, it provides a great example of a "trap zone" setup. Details have been annotated on the chart.
Usage
This indicator will compliment any existing strategy or could be traded as part of a support and resistance trading strategy. One of the great advantages of support and resistance is that levels and zones are identified ahead of time, so trades can be planned and considered well in advance.
There is also the advantage of where to stop out, once a support or resistance level is broken then we no longer want to be in that trade. We have to accept the facts that the market sentiment has changed and no longer sees price here as good value for bull zones or overpriced at bear zones.
You will sometimes see spikes of price through a zone, where the market has grabbed the liquidity in the form of stops on the other-side, which can be extremely frustrating as a trader, but important to understand that it does happen and why it is happening.
You will find liquidity zones on all charts, from the daily to the 1 second chart. The higher the timeframe, the wider the zones are. As a result we would not recommend planning an entry purely on a daily zone, but it is extremely useful information when drilling into the lower time frame charts. So using multiple timeframe analysis is a really useful technique when looking to understand a market.
There are a number of elements to consider before taking entries around support and resistance levels. The most important thing to remember is these levels have to break at some point, otherwise price would never go anywhere. Understanding that these levels can fail is important and is the reason we should always have clearly defined stops and manage risk.
You may also want to consider higher timeframe trend analysis to try and ensure you are trading with the trend. First and second retests work better as these zones will weaken over multiple retests as traders give up on that area, as it no longer is giving the reactions of price that it used to.
The easiest entry method when working with support and resistance levels, is to place limit orders in the market. This is not a recommended approach, although it can be useful for traders who can't sit in front of charts all day. By taking this approach you would want to ensure that you are trading with the predominant trend on a higher timeframe and are in effect using these levels on a lower timeframe as pullback entries. You would also want to ensure that you have a wide enough stop to ensure that any spikes through don't stop out the trade, so using an Average True Range multiplier can be very helpful. The key point is don't oversize and manage risk.
A better approach to identifying entries would be to look at price action on a lower time frame chart, once price has arrived at the level.
A more conservative approach would be to wait for price to close outside the zone in the direction you want to trade on the signal chart and look for an entry on the retest of the top of the zone for buys or the bottom of the zone for the sells, with the stop the other-side of the zone.
For the purpose of examples we will focus on the last two methods, although there are many sources of information on how to trade support and resistance levels, so please don't take the above as the only way to plan or take entries.
Multiple Timeframe Alignment
Here on a stock asset MSFT (Microsoft), we have a zoomed out 15 minute chart. The top left is August 2022 and the bottom right is November 2022, which is quite a sell-off and there were many opportunities to the short side, although many traders would have been looking to see when this stock was at a bargain price.
Here on the 7th November 2022, there were the first signs of a potential change in market sentiment, as the indicator identified a Bull Zone on the 15 minute chart. At this stage the stock has been beaten up for a long time and there is a Bear Zone, above price - so not much distance to get a decent risk reward trade as yet.
Then on the Thursday of the same week, price came back to test the high of this previously created Bull Zone, after being rejected from the Bear Zone above.
So drilling into the 1 minute chart to find good risk : reward entries, price at the opening bell explodes through Bear Zones in the above chart and prints a big 1 minute Bull Zone. This on its own would be hard to trade, is it a fake out? price must surely retrace before a move higher, also there is a trapped buyers zone above price, so there will be a lot of liquidity and sell orders at that level.
Here again on the 1 minute chart, we see the breakout of the orange zone with a new Bull Zone (which is coloured blue, being a 2nd level zone) . Now we just want to see this zone being confirmed by breaking the top and then we would look for entries on the retest.
Price action is now ready for taking a buy entry for a short-term swing trade as illustrated on the next chart.
About a month later the price hit the target, as shown on the 4 hour chart.
The target was set on the 15 min chart, being the next substantial level of a bear zone. Also on the 1 hour chart above, a big green bull zone of liquidity was identified, so there's a fair chance that price will come back to retest liquidity before a greater move away. The trade planner has been removed from this chart, so it is easier to see the printed zones, but the entry was at the 238.00
You will see since January 2023 there have been many opportunities on this stock using the 15 minute chart to find zones to trades and manage risk. The one thing that is clear in this chart is where the market sentiment was on this stock as it made the run-up to current price.
Alerting
Utilising the power of TradingView Alerts enables you to monitor many pairs, when you are away from your charts. You can set up alert for the indicator, by right-clicking on a zone that you see on a chart and choose the first option that appears on the menu "Add Alert to Diddly Zones". You can also perform the same operation from the indicator tile that appears in the top left corner of the chart.
Within setting you can choose to be alerted under the following conditions:
When New Bull Zone has been Identified
When New Bear Zone has been Identified
When Price approaches a Bear Zone from below. Notifying traders that we are approaching a resistance level
When Price approaches a Bull Zone from above. Notifying traders that we are approaching a support level
When Price is Trading inside a Zone at a certain configurable time.
On the last point above: This is useful on a slightly higher timeframe, where large zones exist and you may want to be notified if this asset is trading in a zone at say the London open. You would have already been sent an alert telling you price was arriving at the zone, but that could have been a couple of days ago.
Key Settings
Within the indicator settings there are a number of options that are available to users. From changing the colours and their transparency of different zone types, to the number of exception levels that you want to see on the chart.
The most important ones that are in need of explanation are outline below:
To simplify the settings, the indicator is configured by using a similar analogy to driving style. The reason this is needed is because different assets and asset classes have different levels of liquidity, as a result the indicator requires some basic information to provide the best results. The principle being the faster you drive the more zones you will encounter.
To continue with the analogy, it is important not to drive too fast on a particular asset otherwise all you will see is zones and nowhere for price to go. If this is the case, slow the setting down or go to a higher time frame for a broader perspective.
Settings
"Determine Algo Driving Style" : Available options = "Slow", "Steady", "Sports", "Racing", "Rocket" (Default Setting = Sports)
So this is setting the speed of the indicator
"Turn on Turbo Mode" : True or False (Default Settings = True)
This setting will give the indicator a boost
"What type of asset is the Algo looking at" : Available Options = "Small Caps", "Large Caps", "Futures", "Currencies" (Default Setting = Currencies)
The only difference in these settings currently is a magnification element that is applied to the calculations, which is particularly relevant for highly liquid assets like currencies, futures and large cap stock. The only option that by default does not use the magnification element is Small Cap low float stocks, where liquidity is lower this setting is not required. This magnification can be change later in the settings under "Zone Identification Calculation Models"
Finally
We greatly appreciate the support and feedback from the Trading View community, and we are dedicated to continuing to improve our indicators with your support.
We want to help you manage risk, and that's why we emphasise that trading is risky and any technology used to support our trading decisions is based on information from the past. We encourage traders to take responsibility for their trading businesses and always prioritise risk management.
Diddly - Charts (Asian, London & New York Session + Weekdays)Overview:
Diddly Charts is for providing intraday context to where we are in the market. It does this through a series of ranges displayed throughout the day, typically broken down into the Asian, London, and New York sessions.
This indicator also highlights key market structures like monthly, weekly, and previous day's highs and lows. Lines are provided for weekday and weekend separators, with the days of the week at the bottom of the chart, making it extremely useful for traders when identifying weekly cycles.
Usage:
All aspects of this indicator are changeable within the settings, allowing you to utilise the elements that are most important to your trading strategy.
The default layout is extremely useful for currency pairs, where traders use the London and New York boxes as windows of when to engage with the market. The times of these trading sessions can be changed to suit the trading periods that you want to trade.
Adhering to trading windows can help improve discipline to ensure that you are only taking entries within the time periods that match your trading strategy.
Some traders prefer a cleaner interface and don't want any indicator to detract from the price action they are reading, this can be achieved through changing the colour and their transparency in settings. In this example, you will see different labels used to annotate key structures, these can be changed to something that is relevant to your strategy in the settings.
It can also be used for trading Stocks where sessions are broken down into pre-market, market hours and post-market. This can be helpful to see those stocks that breakout of pre-market session highs and lows and also provide trading windows to keep traders out of trades that do not comply with their trading strategy.
Using higher time frames like a 4 hour chart or even the 1 hour chart, the intraday sessions are hidden away so traders can get a broader perspective without the clutter when zooming out. Although there are options to turn it on if you would prefer.
Here on a zoomed out 1 hour chart we have the option to only display the weekly line separator, which can help get an overview of weekly cycles.
Helpful Information
The main setting that you may want to change is at the top of the indicator settings, which is asking "what asset type" is the symbol being looked at. The indicator needs to know how to display the session range information. For example for currencies, the range size will be displayed in pips. For stocks or Futures it would display the financial amount. Beyond the visual display of information, this setting has no other impact on the indicator behaviour. The default setting is "Currencies".
We often get asked what the labels that appear on the chart mean. These can all be changed to your requirements, but by default what you will see when you apply the indicator to the chart is:
Under the Asian Range appears a couple of labels.
A = x : This is the range size of the session in pips for forex or amount for other assets, from the lowest to the highest price traded during that window.
ADR = y : This is the Average Daily Range over the last 21 days for this ticker
Under the London and New York session you will see a L = x or NY = y . This is the range size of each session in pips for forex or amount for other assets.
Structure Labels
YH = Yesterday's High
YL = Yesterday's Low
WH = Current Week's High
WL = Current Week's Low
MH = Current Month's High
ML = Current Month's Low
We greatly appreciate the support and feedback from the Trading View community, and we are dedicated to continuing to improve our indicators with your support.
We want to help you manage risk, and that's why we emphasise that trading is risky and any technology used to support our trading decisions is based on information from the past. We encourage traders to take responsibility for their trading businesses and always prioritise risk management.
Fibonacci Ratios HTF [theEccentricTrader]█ OVERVIEW
This indicator automatically draws higher timeframe Fibonacci levels from current peak to current trough or current trough to current peak, depending on where the current wave cycle ends. In the example above I have set the higher timeframe resolution to 1-month and applied it to a daily chart.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a high price equal to or above the price it opened.
• A red candle is one that closes with a low price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Wave Cycles
A wave cycle is here defined as a complete two-part move between a swing high and a swing low, or a swing low and a swing high. The first swing high or swing low will set the course for the sequence of wave cycles that follow; for example a chart that begins with a swing low will form its first complete wave cycle upon the formation of the first complete swing high and vice versa.
Figure 1.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Fibonacci Retracement and Extension Ratios
The Fibonacci sequence is a series of numbers in which each number is the sum of the two preceding numbers, starting with 0 and 1. For example 0 + 1 = 1, 1 + 1 = 2, 1 + 2 = 3, and so on. Ultimately, we could go on forever but the first few numbers in the sequence are as follows: 0 , 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144.
The extension ratios are calculated by dividing each number in the sequence by the number preceding it. For example 0/1 = 0, 1/1 = 1, 2/1 = 2, 3/2 = 1.5, 5/3 = 1.6666..., 8/5 = 1.6, 13/8 = 1.625, 21/13 = 1.6153..., 34/21 = 1.6190..., 55/34 = 1.6176..., 89/55 = 1.6181..., 144/89 = 1.6179..., and so on. The retracement ratios are calculated by inverting this process and dividing each number in the sequence by the number proceeding it. For example 0/1 = 0, 1/1 = 1, 1/2 = 0.5, 2/3 = 0.666..., 3/5 = 0.6, 5/8 = 0.625, 8/13 = 0.6153..., 13/21 = 0.6190..., 21/34 = 0.6176..., 34/55 = 0.6181..., 55/89 = 0.6179..., 89/144 = 0.6180..., and so on.
1.618 is considered to be the 'golden ratio', found in many natural phenomena such as the growth of seashells and the branching of trees. Some now speculate the universe oscillates at a frequency of 0,618 Hz, which could help to explain such phenomena, but this theory has yet to be proven.
Traders and analysts use Fibonacci retracement and extension indicators, consisting of horizontal lines representing different Fibonacci ratios, for identifying potential levels of support and resistance. Fibonacci ranges are typically drawn from left to right, with retracement levels representing ratios inside of the current range and extension levels representing ratios extended outside of the current range. If the current wave cycle ends on a swing low, the Fibonacci range is drawn from peak to trough. If the current wave cycle ends on a swing high the Fibonacci range is drawn from trough to peak.
Although there is some contention over which popular levels are and are not actually Fibonacci ratios, such as 50% and 100%, in this script I have based my retracement level calculations on the ratios of 23.6%, 38.2%, 50%, 61.8%, 78.6% and 100%. And my extension level calculations on the ratios of 161.8%, 261.8%, 361.8%, 423.6% and 461.8%.
█ FEATURES
Inputs
• HTF Resolution
• Show Fibonacci Extensions
• 00.0% Line Color
• 23.6% Line Color
• 38.2% Line Color
• 50.0% Line Color
• 61.8% Line Color
• 78.6% Line Color
• 100.0% Line Color
• 161.8% Line Color
• 261.8% Line Color
• 361.8% Line Color
• 423.6% Line Color
• 461.8% Line Color
• Extend Line Type
• Show Labels
• Label Colors
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
Similarly, if the current timeframe is not a factor of the higher timeframe there will be occasions when the left hand offset is out by a couple of bars. This is because the calculations are ultimately based on how many lower timeframe bars there are inside a sequence of higher timeframe bars. The indicator will also behave unexpectedly if the higher timeframe resolution is lower than the current timeframe, but that should be expected.
If the lines do not draw or you see a study error saying that the script references too many candles in history, this is most likely because the higher timeframe anchor point is not present on the current timeframe. This problem usually occurs when referencing a higher timeframe, such as the 1-month, from a much lower timeframe, such as the 1-minute. How far you can lookback for higher timeframe anchor points on the current timeframe will also be limited by your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000.
Fibonacci Ratios [theEccentricTrader]█ OVERVIEW
This indicator automatically draws Fibonacci levels from current peak to current trough or current trough to current peak, depending on where the current wave cycle ends.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a high price equal to or above the price it opened.
• A red candle is one that closes with a low price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Wave Cycles
A wave cycle is here defined as a complete two-part move between a swing high and a swing low, or a swing low and a swing high. The first swing high or swing low will set the course for the sequence of wave cycles that follow; for example a chart that begins with a swing low will form its first complete wave cycle upon the formation of the first complete swing high and vice versa.
Figure 1.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Fibonacci Retracement and Extension Ratios
The Fibonacci sequence is a series of numbers in which each number is the sum of the two preceding numbers, starting with 0 and 1. For example 0 + 1 = 1, 1 + 1 = 2, 1 + 2 = 3, and so on. Ultimately, we could go on forever but the first few numbers in the sequence are as follows: 0 , 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144.
The extension ratios are calculated by dividing each number in the sequence by the number preceding it. For example 0/1 = 0, 1/1 = 1, 2/1 = 2, 3/2 = 1.5, 5/3 = 1.6666..., 8/5 = 1.6, 13/8 = 1.625, 21/13 = 1.6153..., 34/21 = 1.6190..., 55/34 = 1.6176..., 89/55 = 1.6181..., 144/89 = 1.6179..., and so on. The retracement ratios are calculated by inverting this process and dividing each number in the sequence by the number proceeding it. For example 0/1 = 0, 1/1 = 1, 1/2 = 0.5, 2/3 = 0.666..., 3/5 = 0.6, 5/8 = 0.625, 8/13 = 0.6153..., 13/21 = 0.6190..., 21/34 = 0.6176..., 34/55 = 0.6181..., 55/89 = 0.6179..., 89/144 = 0.6180..., and so on.
1.618 is considered to be the 'golden ratio', found in many natural phenomena such as the growth of seashells and the branching of trees. Some now speculate the universe oscillates at a frequency of 0,618 Hz, which could help to explain such phenomena, but this theory has yet to be proven.
Traders and analysts use Fibonacci retracement and extension indicators, consisting of horizontal lines representing different Fibonacci ratios, for identifying potential levels of support and resistance. Fibonacci ranges are typically drawn from left to right, with retracement levels representing ratios inside of the current range and extension levels representing ratios extended outside of the current range. If the current wave cycle ends on a swing low, the Fibonacci range is drawn from peak to trough. If the current wave cycle ends on a swing high the Fibonacci range is drawn from trough to peak.
Although there is some contention over which popular levels are and are not actually Fibonacci ratios, such as 50% and 100%, in this script I have based my retracement level calculations on the ratios of 23.6%, 38.2%, 50%, 61.8%, 78.6% and 100%. And my extension level calculations on the ratios of 161.8%, 261.8%, 361.8%, 423.6% and 461.8%.
█ FEATURES
Inputs
• Show Fibonacci Extensions
• 00.0% Line Color
• 23.6% Line Color
• 38.2% Line Color
• 50.0% Line Color
• 61.8% Line Color
• 78.6% Line Color
• 100.0% Line Color
• 161.8% Line Color
• 261.8% Line Color
• 361.8% Line Color
• 423.6% Line Color
• 461.8% Line Color
• Extend Line Type
• Show Labels
• Label Colors
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
VWAP Bollinger Band Crossover Breakout with ResistanceCredit to © Jesus_Salvatierra for VWAP script
This script help you find a trend in momentum stock that is about to breakout and shows resistance point. This script utilizes Bollinger bands VWAP and is good for intra day charts.
VWAP, or Volume Weighted Average Price, is a technical analysis tool used to measure the average price a security trades at during a given time period, weighted by the trading volume for each price level. It is commonly used by traders and investors to identify the true average price of a security and to assess whether they are buying or selling at a fair price.
A Bollinger Band is a technical analysis tool that uses standard deviation to measure the volatility of a security. The Bollinger Band is typically composed of three lines: the upper band, the lower band, and the middle band. The middle band is a simple moving average of the security's price, while the upper and lower bands are calculated based on the standard deviation of the security's price.
A Bollinger Band crossover occurs when the price of a security crosses above or below one of the bands. When the price crosses above the upper band, it is considered overbought, while when it crosses below the lower band, it is considered oversold. Traders often use Bollinger Band crossovers as a signal to enter or exit a position, depending on their trading strategy.
The VWAP and Bollinger Band crossover are two separate technical analysis tools that can be used in conjunction with each other. When a security's price crosses above or below the Bollinger Band, traders may look to the VWAP to confirm whether the security is trading at a fair price. If the security is trading above the VWAP, it may be overvalued, while if it is trading below the VWAP, it may be undervalued. Similarly, traders may use the Bollinger Band crossover as a signal to enter or exit a position, while also taking into account the VWAP to assess whether the price is fair.
Smart Money Concepts Probability (Expo)█ Overview
The Smart Money Concept Probability (Expo) is an indicator developed to track the actions of institutional investors, commonly known as "smart money." This tool calculates the likelihood of smart money being actively engaged in buying or selling within the market, referred to as the "smart money order flow."
The indicator measures the probability of three key events: Change of Character ( CHoCH ), Shift in Market Structure ( SMS ), and Break of Structure ( BMS ). These probabilities are displayed as percentages alongside their respective levels, providing a straightforward and immediate understanding of the likelihood of smart money order flow.
Finally, the backtested results are shown in a table, which gives traders an understanding of the historical performance of the current order flow direction.
█ Calculations
The algorithm individually computes the likelihood of the events ( CHoCH , SMS , and BMS ). A positive score is assigned for events where the price successfully breaks through the level with the highest probability, and a negative score when the price fails to do so. By doing so, the algorithm determines the probability of each event occurring and calculates the total profitability derived from all the events.
█ Example
In this case, we have an 85% probability that the price will break above the upper range and make a new Break Of Structure and only a 16.36% probability that the price will break below the lower range and make a Change Of Character.
█ Settings
The Structure Period sets the pivot period to use when calculating the market structure.
The Structure Response sets how responsive the market structure should be. A low value returns a more responsive structure. A high value returns a less responsive structure.
█ How to use
This indicator is a perfect tool for anyone that wants to understand the probability of a Change of Character ( CHoCH ), Shift in Market Structure ( SMS ), and Break of Structure ( BMS )
The insights provided by this tool help traders gain an understanding of the smart money order flow direction, which can be used to determine the market trend.
█ Any Alert function call
An alert is sent when the price breaks the upper or lower range, and you can select what should be included in the alert. You can enable the following options:
Ticker ID
Timeframe
Probability percentage
-----------------
Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems 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/Indicators/Ideas/Algos/Systems are only for educational purposes!
CPR Weekly Variable Weekday SellerGood afternoon traders,
This is a script I built for option selling, in attempt to have a high success rate. This is pretty much the same as my other one titled "CPR Option Selling Strategy." The difference is this one is strictly for Weeklies, with a variable weekday to expiry. I've had many requests to have a weekly that would end on Thursday, so here it is. Just select the date for expiry of the option, then it will calculate a "weekly" option set, using the the same set up as the traditional M-F weekly CPR information, except for offset for the weekday in question.
So for expiry dates for options on Thursday, you would choose "Thursday" in the parameters and it will calculate using Fri through Thu data for the pivot timeframes.
The rest is like this...
The gist of how it works:
It uses the opening or close of the current chart's timeframe opening bar when referenced against a "weekly" timeframe determined by the week ending weekday chosen for the central pivot range ( CPR ).
Using that comparison, this script calculates an option to sell: put, call, or iron condor. It will calculate a call value using an average of the CPR central pivot and the max value of the prior higher timeframe's high or R1 (whichever is higher.)
It does the same for the put side, but uses the higher timeframe's low or S1 (whichever is lower.)
It will use the option on the other side of the source (open or close) of the CPR as the "option in play."
Settings:
There are many settings, most are simply "viewable" settings, and probably self explanatory, others, not so much:
"Source for Trigger" - this is the value used on the "opening bar," such as the close. This value is the one compared to the Central Pivot Range in determining whether to sell a call (if the source is lower,) sell a put (if the source is higher,) or an iron condor if it's in the CPR .
"Show Historical Win/Loss Percentages" - this shows a table in the bottom right of the W/L percentages for the current ticker and settings. Used for a quick glance at historical success rates.
Example use (OLD EXAMPLE):
An example use (which I completed last week) on the chart referenced in this share: I sold a put-spread for $0.90, selling a 590 and buying a 570 strike in the middle of the week. I was looking at an hourly timeframe chart with a weekly pivot timeframe for the strategy.
Obviously, making only $0.90 on a $20 spread, there is a lot more to lose than to make, but I did some other analysis to go with it, so I felt safe, and I had a stop set for $1.50. So it worked, along with 3 other plays I did, very similar, and if that "Historical Win/Loss Percentage" is accurate, which I am fairly certain it is, I felt good about it.
The key all comes down to what you sell it for, right? That piece only you can determine. :)
Happy trading and enjoy,
Deuce
Balance Zone ExtensionBalance zones are an aspect of trading that many traders notice. Balance Zones are formed when a market is in equilibrium and respects a certain high and low multiple times. These zones could also be called accumulation or distribution areas depending on the price action. If the term "choppy" is used to describe a given markets price action, it is probably a fair statement to say that the market is currently in a Balance Zone.
This script is a take on vwaptrader1's teachings where you take a balance zone and "double it" to get a target if/when it does break out of balance. It provides an automated way of extending levels based on a given balance range.
The lines plotted by the script are calculated based off of the balance high/low inputs, how many sections are desired per zone, and how many boxes to plot based on the other user inputs.
Warning: Due to a current limitation of the Pine, this script is only allowed to plot up to 500 lines total. If you start to notice lines starting to disappear or you begin getting a script error, double check the input settings as the script may have crossed the 500 line threshold.
This can be used in conjunction with Fixed Range Volume Profile . Select the balance range with the Fixed Volume Profile . Note the Value Area High and Value Area Low prices and input those into the balance range High/Low inputs.
Use to create price targets from Balance Zone Breakouts
A recent example of this idea in action on ticker ES1! 2 hour chart where the balance range was found and the target (double the box size of the balance range) was hit.
Another example of this same concept but on a normal security like AAPL but on a 30 minute chart:
Extending the usefulness even further to crypto on BTCUSD with a 5 minute chart:
Use to create reference levels for future price action
The other way to utilize this is to provide future reference levels from a key balance range from the past.
Here is another example utilizing the AMD daily chart . First, a balance zone was noted for all of 2017:
Moving forward to the most recent price action in 2023, notice that the box extension levels are still fairly well respected almost 6 years later!
Three-Day Rolling PivotThe three-day rolling pivot is another pivot concept,
which may be used by intermediate positions, for several days or even weeks.
It can be utilized in many ways, such as to determine an entry point or trailing stop.
As the name suggests, this pivot is based on the last three days.
I learned this concept of the book "The logical Trader" by Mark Fisher.
Kudos go to him!
My version of the Three-Day Rolling Pivot uses actual data!
And all similar scripts I have found so far calculate future data and don't take into account the original data.
I hope this script will help some people to do some better decisions.
And I am pleased to get some advice to make this script even better!
Future data vs original data
Pine Script v5 Reference Manual:
Merge strategy for the requested data position... This merge strategy can lead to undesirable effect of getting data from "future" on calculation on history. This is unacceptable in backtesting strategies, but can be useful in indicators.
e2e4 on Stack Overflow said:
Pine v1-v2's security() function is using the lookahead parameter by default, which could be modified in v3-v5...
stackoverflow.com
I haven't found a script which put this into account jet.
I leave this option available for people that wanna more speculated data. But it's disabled by default.
Long/Short Example
You can enter Long when the market cross over the upper line (default color is green) and you should put your trailing stop 1-5 ticks below the lower line (default color is red).
The opposite when Shorting, then the market has to cross down the lower line and your trailing stop should be 1-5 ticks above the upper line.
How does this script work:
First it fetches the highest high of ...
yesterday,
the day before yesterday,
and the day before that.
After that the script looks for the highest high of all three.
Next it does the same for previous lowest low.
Last but not least, it fetches the closing price of the last day.
After that it adds all three prices together and divide them by three.
This result in a three day pivot price.
Then it adds the highest high and lowest low of the three last days and divide it by two.
This gives us the second number we need to calculate the differential.
The differential is the gap between the three day pivot price and the second number.
Sometimes the second number is bigger than the three day pivot price so I took that into account too. Other wise the colors plotted would be on the wrong site.
Finally, the script is rounding the numbers to the nearest minimum tick of that security.
Swing BoxesHey, folks!
Sorry for not posting anything for such a long time. Don't have enough ideas and resources to get inspiration, so trying to brainstorm good stuff in my free time from university studies.
But despite my absence more I now have 300+ people subscribed to me! Thanks, guys, for keeping interest for my work, as I still do value each boost on my script, for real :)
So here is new script , enjoy!
Swing Boxes is pretty simple indicator, which plots signals with "boxes", that help you determine price targets.
What is the idea behind?
I wanted to make indicator, that could help me make swing trades with nice accuracy (as all we want, lol), and for signal criteria I decided to use highs and lows of the price . Then I started coding some ideas to see which of them could be worthy. And, actually, Swing Boxes appeared to be good. But the thing is, that I didn't intend to build them, they appeared as an anomaly from my code :)
I started to explore this anomaly (it looked super cool, but was repainting hard) to fix it and I succeeded, now Swng Boxes don't repaint.
The main idea is that when price goes above it's highest value of p-bars back or below it's lowest value p-bars back, then there is a some god probability, that price will continue to follow current direction.
And the things about Swing Boxes is that when there is a good trend movement, the boxes become super small to track price movement and when price breaks out in the counter-trend direction, then you will be able to almost perfectly catch a top or a bottom! But most of the signals won't be so high-quality, so don't think that is this some holy grail to trade swing-trading, because it is not.
Signal logic
Quick hint:
- epsilon(variable e ) = ATR * ATR_Factor . It is used to determine box's sensitivity to price changes.
If previous close is higher than variable, which contains previous HIGHEST value (variable h in the code), then update the this variable by taking up-to-date highest value and add epsilon( e ) to it;
If previous close is lower than variable, which contains previous LOWEST value (variable l in the code), then update the this variable by taking up-to-date lowest value and substract epsilon( e ) from it.
Variables decribed above ( h and l ) are box's top and bottom respectively, so if price cross them, it is logical to update it is value.
Settings and what is what
Swing Box Period - numbers fo bars in the past to find highest and lowest price from. The bigger the input, the bigger the boxes will be;
ATR Period;
ATR Factor - multiplier for ATR, determines sensitivity for price changes. The bigger this input, the more accurate signals will be, but less the probability that the signal will be on the top or a bottom.
Show Boxes? - when chosen, plots box's top and bottom. Used to determine price targets.
Show Baseline? - when chosen, plot's baseline, which midline between box's top and bottom.
How to use?
This indicator plots green and red triangles by default.
- Green triangle --> Buy ;
- Red triangle --> Sell ;
As I've said before, many signals from indicator will probably be garbage, so you need to tune settings for youself, so it could satisfy you .
You can enable showing boxes to see box's top and bottom. Box's bottom --> your entry, top --> your profit target.
If you find a way to sort bad signals, you will be able to trade with super cool RR, because the signal from Swing Boxes appear to be a good one, there is almost 95% probability, that price will not even come close to your stop loss, so you can trade with super small stop-losses! Smaller stop-loss --> smaller risk --> smaller loss --> bigger profit, it is that easy.
Also you can enable baseline to use at as your 1st TP, and box's top/bottom as 2nd TP, closing 25% on TP1 and the rest on TP2 (but that is just mine recommendation, you can use different RM (risk-management), if you want).
Also you can use baseline as your S/R (Support/Resistance) line, test it out on your charts.
And please, hear me out: as all other indicators out here on the TradingView, Swing Boxes ARE NOT meant to be traded in solo! Many bad signal can go in a row, so PLEASE find your way to filter out bad signals with other indicators.
You can see here the example of a garabge-class signal in a row, so be don't be deluded!
I do hope that somebody will suggest and idea to improve this thing, as I personally don't have enough time to think about it because of my university studies, but I will probably try it make this thing better throughout the time.
And that's it for now, folks! If you have any ideas for scripts, strategies or anything else, feel free to DM me or leave a comment, I will check it.
Hope you will find this script useful.
Take your profits!
- Tarasenko Fyodor
Multi-Timeframe High Low (@JP7FX)Multi-Timeframe High Low Levels (@JP7FX)
This Price Action indicator displays high and low levels from a selected timeframe on your current chart.
These levels COULD represent areas of potential liquidity, providing key price points where traders can target entries, reversals, or continuation trades.
Key Features:
Display high and low levels from a selected timeframe.
Customize line width, colors for high and low levels, and label text color.
Enable or disable the display of high levels, low levels, and labels.
Receive alerts when the price takes out high or low levels.
How to use:
It is important to note that using this indicator on it's own is not advisable. Instead, it should be combined with other tools and analysis for a more comprehensive trading strategy.
Possibly look to use my MTF Supply and Demand Indicator to look for zones to trade from at these levels?
If the price breaks above a high level, you might consider entering a long position, with the expectation that the price will continue to rise. Conversely, if the price breaks below a low level, you may think about entering a short position, anticipating further downward movement.
On the other hand, you can also use high or low levels to look for reversal trades, as these areas can represent attractive liquidity zones.
By identifying these key price points, you could take advantage of potential market reversals and capitalise on new trading opportunities.
Always remember to use this indicator in conjunction with other technical analysis tools for the best results.
Additionally, you can enable alerts to notify you when the price takes out high or low levels, helping you stay informed about significant price movements.
This indicator could be a valuable tool for traders looking to identify key price points for potential trading opportunities.
As always with the markets, Trade Safe :)
HHLL and Liquidity LevelsHHLL AND Liquidity Levels
Description: This indicator shows hidden support and resistance levels and liquidity levels. The indicator allows traders to select source data from open/close or the high and low. The indicator also allows for appearance customization.
How can Higher highs and Lower lows and liquidity levels benefit traders?
HHLL refers to a series of higher highs and lower lows in an asset's price trend, which can indicate a potential reversal in the trend. Liquidity, on the other hand, refers to the ease with which an asset can be bought or sold without affecting its price. HHLL can help traders identify potential trends, while liquidity can ensure that trades can be executed smoothly and without significant price impact.
How can traders use this indicator?
Traders can use the indicator to identify potential market trends and market momentum. When the indicator show a series of higher highs and higher lows it can show a possible uptrend, meanwhile a series of lower lows and lower highs could show a possible uptrend with liquidity to confirm their trading decisions.
The script could also capture hidden support and resistance levels by showing areas where liquidity is concentrated and where price has repeatedly made higher highs and lower lows.
Features:
Support and Resistance levels based on Highs and Lows
Zig zags to show the HHLL's
Liquidity Levels
BOS and CHOCHS labels
Here are some examples of the indicator in action:
The HHLL and Liquidity Levels indicator being used with the Contraction and Expansion indicator to see when expansions are due and then price retest the liquidity levels.
[UPRIGHT Trading] Volatility Trend Filter (VTF) AlgoHello Traders,
As some of you know, I have had this in Beta for a long while now and it's finally time for a full release.
I originally designed this to be an Unreal Algo add-on to track & stay in the trade a little better, but the VTF Algo has become a full Algorithm and can be used standalone with supreme accuracy.
It's for beginners and advanced traders alike. I've made the settings very customizable, but also easy to just jump right in.
How it works:
It uses volatility , deviations, and tons of statistical calculations, confirmations, moving averages, and filters to bring you the most accurate Supply & Demand predictive algorithm possible. The VTF Algo will automatically normalize different volatility in any type of market to help avoid getting Chopped up and give a forward-looking approach to accurate Price Action and confirmation. It will automatically show support and resistance in real-time. The channel that The VTF Algo creates will help traders confirm whether they should stay in the trade or get out fast. As the green top grows it naturally acts as Supply and as the red bottom grows it acts as Demand, when one of them far exceeds the other the direction price will proceed to is clear to see.
Features:
-Easy-to-read Price Action & Trend channel.
-Exceptional Chop Filter (grayed center).
-Accurate Buy/Sell and Topline Continuation Signals.
-Rejection Signals.
-Multiple-Timeframe Customizable Trend Table. Showing Directional Arrows (see bottom right of picture).
-Bullish / Bearish Growing Blocks.
-Fully Customizable with Clean and Cleaner Mode.
The VTF Algo was made with all different types of traders in mind.
Some like things Ultra Crispy Clean:
Others like things a little more clean but can move their focus to where it's needed:
Lastly, there are those who don't mind things looking a little busy:
Topline Continuation Signals, Auto-Supply/Demand, and a Real-Time Multiple Timeframe Trend Table (in the bottom-right) corner:
Meshes perfectly as an Algo Add-on for Unreal Algo © (as originally designed) to enhance "The Simple Strat" © :
I tried to make everything as customizable as possible. So adding or removing or color-changing is super easy.
Happy Trading.
Cheers,
Mike
Opening Range with FibsThe indicator uses a time range and another instrument for time reference, so that it works in the time zone you care about. I have set the default to SPX500USD since it is in EST ( SPX , ES and many futures are on Chicago time and opening range gets confused). You can change the reference instrument in the settings.
You can also change the multipliers and use other values instead of 1.272 and 1.618 for Fib extensions.
TradingView has a limit as to how many objects an indicator can create so if you want to go back further for visual backtesting - use the replay tool - it will be able to draw up to the time you selected within its limits.
Let me know if you need anything else...
Happy Trading!
Pivots For IndicatorsThis is an overlay indicator that finds and identifies pivots. It is very sensitive so works best on smoother oscillators such as Stoch RSI. Make sure you set the source to your indicator after you overlay it. You will need to adjust the rev high and low inputs in the settings. For example Stoch RSI would have a revhigh = 80 and revlow = 20. This script is not designed to work on the chart.
Yellow = First Higher low or First Lower High
Orange = Reversal (Indicator low and high levels can be adjusted in settings.
Teal = Higher Low
Red = Lower High
Gray = Higher high or Lower Low
RS Stage AnalysisThis script trying to detect different lifecycle of stock / Stages.
There is mainly 4 stages of stocks.
1) stage 1 - Accumulation = color = aqua
2) stage 2 - Advancing = color = green
3) stage 3 - Distribution = color = yellow
4) stage 4 - Declining = color = red
At some point the condition i wrote wont detect any stage.
9:15 AM middle price #rangeofstinoThis indicator will show the middle price of the first one-minute candle of BankNifty at 9:15 AM for every day.
Range Analysis - By LeviathanThe Interactive Range Analysis script is an essential tool for analyzing price ranges. It automatically draws important range levels, generates a Volume Profile or Open Interest profile and horizontal/vertical heatmaps, plots the anchored VWAP, draws Fibonacci levels, and much more.
How to use the indicator:
1. The script will prompt you to select the "Start Time" and "End Time" using Tradingview's interactive interface. These two points will determine the length of the range.
2. Once you have selected the range, the script will automatically anchor the range highs and lows to the highest and lowest close/wick/hlc3/ohlc4 (whichever you prefer).
3. You can then begin exploring different tools and options such as Quarters, Eighths, Fibonacci, Outer Levels, VWAP, Horizontal Volume/OI Heatmap, Vertical Volume/OI Heatmap, Fixed Range Volume Profile, Open Interest Profile, Value Area, VAH, VAL, and POC.
4. You can adjust the range by dragging the Start Time and End Time anchors or by removing/reapplying the script.
Tool overview
Range Levels
After selecting your preferred time range, the script will identify and draw a range high level and a range low level, which serve as a base for other important levels. “Half” is the level halfway between the range high and range low. “Quarters” will, as the name suggests, split the range into four equal zones (quarters) and “Eighths” will split the range into eight equal zones (eighths).
”Fibonacci” option allows you to display Fibonacci retracement levels (0.786, 0.618, 0.382, 0.236). “VWAP” will plot a Volume Weighted Average Price, anchored to the start of the range. “Direction” input lets you choose whether your range is UP or DOWN trending in order to make sure that the Fibonacci levels and labels are generated and assigned correctly. With “Outer” turned ON, the script will also generate active levels (quarters/eighths/Fibonacci) above and below the selected price range. “Extend Right” will extend all levels to the right indefinitely, while “Extend (+Bars)” lets you choose how far right the levels get extended. “Diagonal Line” is drawn from the bottom left of the range to the top right of the range or from the top left of the range to the bottom right of the range, depending on the “Direction” input.
Volume Profile / Open Interest Profile
After selecting the “Data Type”, Volume Profile or OI Profile can be generated by turning ON the “Volume/OI Profile” option.
“Resolution” input defines the amount of nodes/rows in the range that are used in profile/heatmap generation for distributing the data. While you can increase the “Resolution” to get better, more granular profiles, you should keep in mind that you might need to lower the resolution when generating profiles for larger ranges.
”Node Type” offers you two options when it comes to the representation of data: Up/Down - divides a node in two sections for up volume/OI and down volume/OI, Total - one node for total volume/OI and Delta - net difference in up volume/OI and down volume/OI.
”Profile Position” lets you choose whether the profile is positioned on the left side of the range or on the right side of the range.
“Profile Direction” determines whether the profile nodes are facing right or left.
“Profile Type” enables you to visualize the nodes in a classic way (Type 1) or in a way where down volume/negative OI are positioned on the left side of the y axis and up volume/positive OI on the right side of the y axis.
“Node Size (%)” defines how much space in the range can be taken by the profile’s nodes. Eg. 50% will allow the largest node to extend to the middle of the range (and others scaled accordingly), 100% will allow the largest node to extend the max right point of the range (and others scaled accordingly).
”Value Area (%)” defines the VA zone, which represents the area where the most volume occured (usually 70% or 68%).
”Horizontal Heatmap” will display a heatmap-like overlay, that will help you identify the price levels where most volume/open interest action occurred.
”Vertical Heatmap” will display a heatmap-like overlay, that will help you identify the points in time where most volume/open interest action occurred.
A more detailed description of this indicator is coming in the next few days.
Important:
* If volume or OI profile does not get generated, try lowering the resolution.
* Once in a while, the script will disappear from your chart. Just remove and reapply.
* Open Interest data is only avaiable on Binance Perpetual Futures pairs
To learn more, read the tooltips in the indicator’s settings and stay tuned for upcoming additions (Range Market Structure, Liquidation Levels, Range Statistics,…)
Previous Levels With Custom TimeZoneThe Previous Levels With Custom TimeZone indicator shows to users specifics price area which can be liquidity to take.
Users can determine the desired time zone to retrieve the correct daily, weekly and monthly values.
Several price area are shown with with indicator which are :
Daily Open Price
Daily Low Price
Daily High Price
Previous Daily Low Price
Previous Daily High Price
Previous Weekly Low Price
Previous Weekly High Price
Previous Monthly Low Price
Previous Monthly High Price
All price area are configurable to let user have specific color or line style for each area.
Here's some example :
Daily Open / High / Low
Previous Daily High / Low
Previous Weekly High / Low
Previous Monthly High / Low
4C Options Expected Move (Weekly + 0DTE)This indicator plots the calculated Expected Move for BOTH Weekly and Zero Dated Expiration (0DTE) Daily options, for a quick visual reference.
Please Note: This indicator is different from our original "4C Expected Move (Weekly Options)" indicator, as it now packages the ability to ALSO plot 0DTE options expected moves along with Weekly expected moves. Many other newer features have also been implemented.
Background Information
The Expected Move (EM) is the amount that a stock is predicted to increase or decrease from its current price, based on the current level of options pricing and implied volatility.
This range can be viewed as possible support and resistance, or, once price gets outside of the range, institutional hedging actions can accelerate the move in that direction.
It can be useful to know what the weekly EM range is for a stock to understand the probabilities of the overall distance, direction and volatility for the week.
About the Indicator
This indicator plots the calculated Expected Move for BOTH Weekly and Zero Dated Expiration (0DTE) options, for a quick visual reference.
For the weekly EM, the range is based on the Weekly close of the prior week.
For the Daily EM based on 0DTE options, the range is based on the Daily close of the prior day.
The indicator will automatically start a new weekly EM plot at the beginning of the week, and a new daily EM at the beginning of each day.
The EM values must be updated weekly and/or daily.
Features
Plots the EM for the week
Plots the EM for the day, for symbols that offer daily expiration options
Plots the 2 Standard Deviation EM for both the weekly and daily EM
Labels with calculated values are plotted near the levels for quick visual aid
Settings
Can toggle weekly EM on/off
Can toggle Daily EM on/off
Can toggle 2 Standard Deviation lines on/off
Can toggle labels for all EM on/off
Robust line settings
Can adjust label location left/right based on personal preference
Can enter symbol into settings as a reference
Handy instructions in the settings
How To Set Up The Indicator
To use this indicator you must have access to a broker with options data (not available on Tradingview).
Usually, you can look at the stock's option chain to find the weekly expected move.
You will have to do your own research to find where this information is displayed depending on your broker. You may also need to find the information elsewhere if your broker does not have this information.
You can also do your calculation of the EM using the following formula (please do your own research):
Expected Move = Option Price x Implied Volatility x Square Root of Time
See screenshot example below
This is the Thinkorswim platform's option chain, and the Implied Volatility % and the calculated EM are on the right side of the option chain.
The Expected Move is circled in blue. Use the +- number in parentheses, NOT the % value.
For the weekly EM, input the number that corresponds to the weekly option into the indicator. This must be done on a weekly basis, and It is typically best to use the EM for the next week expiration that is generated AFTER the Friday close and/or before the Monday open of the upcoming week.
For the daily EM, input the number that corresponds to the daily 0DTE option into the indicator. This must be done on a daily basis, and it is typically best to use the EM value for the 0DTE option that is generated the night before (after market close), or before the market opens for that 0DTE. .
