HTF OverlayThe "HTF Overlay" indicator provides a fully customizable higher timeframe (HTF) candle overlay on your current chart, designed to enhance your analysis and trading strategies. This tool is particularly useful for traders utilizing ICT's AMD power of three strategies, focusing on key candle OHLC/OLHC expansions, or those who need a quick reference to a higher timeframe without switching charts.
Originality and Usefulness:
The "HTF Overlay" script stands out due to its seamless integration of HTF candles onto lower timeframe charts. It ensures the current developing candle is left untouched, preserving the clarity of ongoing market activity. This feature is crucial for traders who need to analyze market structure on a smaller timeframe within the context of a larger timeframe candle.
Functionality:
Dynamic HTF Candle Display:
The script overlays HTF candles, updating them in real-time as new HTF candles form. This allows traders to see historical price behavior and trends alongside the current price action.
Visual Customization:
Users can adjust various aspects of the HTF candles, including the number of candles displayed, body colors, wick colors, wick thickness, and transparency levels for both body and wick. This ensures the overlay fits seamlessly with any chart setup.
Real-time Updates:
The indicator updates dynamically, ensuring that the HTF candles remain relevant to the current market conditions without affecting the developing candle.
How It Works:
Data Retrieval: The script uses the request.security function to fetch HTF data, including open, high, low, close, time, and time close values.
Candle Overlay: It calculates the visual parameters for the HTF candles (body and wick positions, colors, and transparency) and overlays them on the chart.
Update Mechanism: The script differentiates between new and ongoing candles, updating the current candle in real-time without disrupting its development.
How to Use:
Setup:
Select the higher timeframe you want to overlay (e.g., 240 minutes for 4-hour candles).
Specify the number of HTF candles to display.
Customize the appearance of the HTF candles, including colors and transparency settings for both the body and wicks.
Interpretation:
Use the HTF overlay to validate trading decisions by analyzing price action from a broader perspective.
Identify key support and resistance levels, trend directions, and potential reversal points by comparing current price action with HTF structures.
Integration:
Combine this indicator with other tools your strategy may use for a more comprehensive analysis.
Use it in conjunction with the first and last candle highlight feature to quickly identify key reference points and enhance your trading strategy.
Conclusion:
The "HTF Overlay" indicator is a versatile and essential tool for traders who need to incorporate higher timeframe analysis into their trading strategies. Its customizable features and real-time updates provide a deeper insight into market dynamics, helping traders make more informed decisions. Whether used for trend confirmation, breakout identification, or support/resistance analysis, this indicator enhances your ability to navigate the markets effectively.
Analisis Tren
Moving Average Exponential-DonCHI-SUPERTRENDThe "Moving Average Exponential-DonCHI-SUPERTREND" is a trading strategy or indicator that combines three distinct technical analysis tools:
Moving Average Exponential (EMA): This is a type of moving average that gives more weight to recent prices, making it more responsive to price changes compared to a simple moving average.
Donchian Channels (DonCHI): These are bands that are plotted above and below the recent price highs and lows. They help identify the current price volatility and potential breakout points.
SUPERTREND: This is a trend-following indicator that uses the average true range (ATR) to determine the direction of the trend. It provides signals similar to moving averages but with less lag.
RGLRGL Breakout and Retest Trade Strategy
Key Concepts:
Breakout: A breakout occurs when the price moves decisively through a significant support (green line) or resistance (red line) level. This indicates a shift in supply and demand dynamics, with the potential for a strong price movement in the breakout direction.
Retest: After the breakout, the price often returns to the broken level (support becomes resistance and vice versa) to test its validity. This retest provides an opportunity to enter the trade at a more favorable price with confirmation of the breakout.
Candle Body Support/Resistance [LuxAlgo]The Candle Body Support/Resistance indicator is a tool that provides Support/Resistance levels from high-volatility candles, a concept originally described by Steve Nison in "Beyond Candlesticks".
Users can define the candle body percentage used to set the detected support/resistance levels. Occurrences of price testing the returned levels are highlighted using user-customizable dots.
🔶 USAGE
Support/Resistance levels are drawn from volatile candles, that is candles having a body (range between opening and closing price) whose magnitude is larger than the Volatility Threshold , which is determined by the multiplicative factor of an ATR (Average True Range) using a user set length.
The level starts from the opening price +/- a percentage of the open-close range. Users can adjust the percentage of the candle body used as support/resistance levels respectively, with higher percentage values returning levels prone to get reached sooner by the price.
A test is considered valid when a wick passes through the Support/Resistance level while the closing price is not breaking it.
Two modes are included, Trailing and Historical , both affecting the displayed elements of the indicator, these are described in the sub-section below.
🔹 Historical
The Historical Mode will draw a separate line from every Volatile Candle . When this line is tested, a dot will be drawn.
In the above example, the red resistance line was tested once until a bullish volatile candle formed, which closed just below the resistance level. The resistance level was tested again, after which the newly created support level was broken quickly, and the price decreased. These levels proved helpful later, acting as resistance/support levels (illustrated by the extra manually drawn dashed white lines).
To prevent cluttering Support/Resistance , lines will be deleted when the line is mitigated and hasn't been tested.
When a Support/Resistance line reaches its Maximum Line Length , it will also be deleted when it has not been tested.
🔹 Trailing
When a new volatile candle of the same type (bullish/bearish) appears while the Support/Resistance isn't broken, this line will be updated with the values of the new volatile candle. This creates a trailing line and a less cluttered chart.
Unlike the Historical mode , a line will not be deleted after a while or when it is mitigated. Instead, the line won't be updated anymore. A new line will start from the next found volatile candle.
Using the same situation as the Historical Mode example, we can note the future significance of old support/resistance levels (illustrated by the extra manually drawn dashed white lines).
The user can switch between these 2 modes, each offering a unique perspective on the market. This provides a more in-depth examination of the market, enhancing the user's trading analysis.
Using a copy of our indicator while using both modes can also be helpful.
🔶 DETAILS
The Support level is the opening price of a bullish volatile candle plus a user-set percentage of the candle's body, while the Resistance level is the opening price of a bearish volatile candle minus a percentage of the candle's body.
The following example illustrates the ATR with the multiplicative factor (Volatility Threshold) where the body of Volatile candles exceeds the ATR limits. Changing the Volatility Threshold and ATR length gives users extra flexibility to adjust to their needs.
🔹 Max Line Length
When using the Historical Mode and the duration of a displayed level reaches the user-set Max Line Length value, the level will return to the last test or be deleted when it has not been tested.
🔶 SETTINGS
Display Mode: Display mode of the indicator.
Support %: Sets the distance of the Support Line from the opening price relative to the candle body.
Resistance %: Sets the distance of the Resistance Line from the opening price relative to the candle body.
🔹 Filter
Length ATR: Amount of bars for the calculation of the Average True Range.
Volatility Threshold: multiplicative factor of ATR.
Max Line Length: Maximum allowed duration/length (in bars) of a Support/Resistance level.
Smoothed Heiken Ashi Candles with Delayed SignalsThis is a trend-following approach that uses a modified version of Heiken Ashi candles with additional smoothing. Here are the key components and features:
1. Heiken Ashi Modification: The strategy starts by calculating Heiken Ashi candles, which are known for better trend visualization. However, it modifies the traditional Heiken Ashi by using Exponential Moving Averages (EMAs) of the open, high, low, and close prices.
2. Double Smoothing: The strategy applies two layers of smoothing. First, it uses EMAs to calculate the Heiken Ashi values. Then, it applies another EMA to the Heiken Ashi open and close prices. This double smoothing aims to reduce noise and provide clearer trend signals.
3. Long-Only Approach: As the name suggests, this strategy only takes long positions. It doesn't short the market during downtrends but instead exits existing long positions when the sell signal is triggered.
4. Entry and Exit Conditions:
- Entry (Buy): When the smoothed Heiken Ashi candle color changes from red to green (indicating a potential start of an uptrend).
- Exit (Sell): When the smoothed Heiken Ashi candle color changes from green to red (indicating a potential end of an uptrend).
5. Position Sizing: The strategy uses a percentage of equity for position sizing, defaulting to 100% of available equity per trade. This should be tailored to each persons unique approach. Responsible trading would use less than 5% for each trade. The starting capital used is a responsible and conservative $1000, reflecting the average trader.
This strategy aims to provide a smooth, trend-following approach that may be particularly useful in markets with clear, sustained trends. However, it may lag in choppy or ranging markets due to its heavy smoothing. As with any strategy, it's important to thoroughly back test and forward test before using it with real capital, and to consider using it in conjunction with other analysis tools and risk management techniques.
Other smoothed Heiken Ashi indicators do not provide buy and sell signals, and only show the change in color to dictate a change in trend. By adding buy and sell signals after the close of the changing candle, alerts can be programmed, which helps this be a more hands off protocol to experiment with. Other smoothed Heiken Ashi indicators do not allow for alarms to be set.
This is a unique HODL strategy which helps identify a change in trend, without the noise of day to day volatility. By switching to a line chart, it removes the candles altogether to avoid even more noise. The goal is to HODL a coin while the color is bullish in an uptrend, but once the indicator gives a sell signal, to sell the holdings back to a stable coin and let the chart ride down. Once the chart gives the next buy signal, use that same capital to buy back into the asset. In essence this removes potential losses, and helps buy back in cheaper, gaining more quantitity fo the asset, and therefore reducing your average initial buy in price.
Most HODL strategies ride the price up, miss selling at the top, then riding the price back down in anticipation that it will go back up to sell. This strategy will not hit the absolute tops, but it will greatly reduce potential losses.
Coins Trend Tracker HTThe Coins Trend Tracker HT script provides a powerful tool for monitoring and comparing the trend signals of multiple cryptocurrencies based on their Exponential Moving Averages (EMAs). This script is particularly useful for traders who want to keep track of multiple coins across different timeframes and identify potential trading opportunities based on EMA crossovers.
Features:
Customizable Coin Selection: Users can select up to four different cryptocurrencies to monitor.
Flexible Timeframes: Users can choose two different timeframes for EMA calculations to suit their trading strategies.
Visual Trend Indicators: The script displays trend indicators (🚀 for bullish and 💀 for bearish) based on the EMA crossover status for each coin and timeframe.
Conditional Cell Coloring: Table cells are color-coded based on the EMA crossover conditions, helping users quickly identify bullish or bearish trends.
Opacity Control: Users can adjust the opacity of the table cell colors for better visualization on the chart.
How It Works:
Coin Selection: Users can select up to four different cryptocurrencies to monitor by entering their ticker symbols.
Timeframe Selection: Users can select two different timeframes for the EMA calculations. The script calculates the 5-period and 20-period EMAs for each coin and timeframe.
EMA Crossovers: The script checks for EMA crossovers (EMA 5 crossing above or below EMA 20) and updates the trend indicators and cell colors accordingly.
Table Display: The script displays a table with the selected coins, their current prices, and trend indicators for the chosen timeframes. The background color of the table cells changes based on the EMA crossover status.
Script Logic:
The get_price function retrieves the latest price of the selected coin for the specified timeframe.
The get_ema_cross function calculates the 5-period and 20-period EMAs and checks for crossover conditions.
The fill_row function populates the table with the coin data, trend indicators, and conditionally colored cells.
The table header and data rows are updated based on the user-selected coins, timeframes, and EMA crossover conditions.
Usage:
Add the script to your TradingView chart.
Customize the coin selection, timeframes, text color, default cell color, bullish and bearish cross colors, and cell opacity through the input settings.
The script will display a table with the selected coins, their current prices, and trend indicators based on the EMA crossovers for the chosen timeframes.
Order Blocks & Breaker Blocks [TradingFinder] Signals + Alerts🔵 Introduction
Order Block and Breaker Block, are powerful tools in technical analysis. By understanding these concepts, traders can enhance their ability to predict potential price reversals and continuations, leading to more effective trading strategies.
Using historical price action, volume analysis, and candlestick patterns, traders can identify key areas where institutional activities influence market movements.
🟣 Demand Order Block and Supply Breaker Block
Demand Order Block : A Demand Order Block is formed when the price succeeds in breaking the previous high pivot.
Supply Breaker Block : A Supply Breaker Block is formed when the price succeeds in breaking the Demand Order Block. As a result, the Order Block changes its role and turns from the role of price support to resistance.
🟣 Supply Order Block and Demand Breaker Block
Supply Order Block : A Supply Order Block is formed when the price succeeds in breaking the previous low pivot.
Demand Breaker Block : A Demand Breaker Block is formed when the price succeeds in breaking the Supply Order Block. As a result, the Order Block changes its role and turns from the role of price resistance to support.
🔵 How to Use
🟣 Order Blocks (Supply and Demand)
Order blocks are zones where the likelihood of a price reversal is higher. In demand zones, buying opportunities arise, while in supply zones, selling opportunities can be explored.
The "Refinement" feature allows you to adjust the width of the order block to fit your trading strategy. There are two modes in the "Order Block Refine" feature: "Aggressive" and "Defensive." The primary difference between these modes is the width of the order block.
For risk-averse traders, the "Defensive" mode is ideal as it offers a lower loss limit and a higher reward-to-risk ratio.
Conversely, for traders who are willing to take more risks, the "Aggressive" mode is more suitable. This mode, with its wider order block width, caters to those who prefer entering trades at higher prices.
🟣 Breaker Blocks (Supply and Demand)
Trading based on breaker blocks is the same as order blocks and the price in these zones is likely to be reversed.
🔵 Setting
🟣 Global Setting
Pivot Period of Order Blocks Detector : Enter the desired pivot period to identify the Order Block.
Order Block Validity Period (Bar) : You can specify the maximum time the Order Block remains valid based on the number of candles from the origin.
Mitigation Level Order Block : Determining the basic level of a Order Block. When the price hits the basic level, the Order Block due to mitigation.
Mitigation Level Breaker Block : Determining the basic level of a Breaker Block. When the price hits the basic level, the Breaker Block due to mitigation.
Switching Colors Theme Mode : Three modes "Off", "Light" and "Dark" are included in this parameter. "Light" mode is for color adjustment for use in "Light Mode".
"Dark" mode is for color adjustment for use in "Dark Mode" and "Off" mode turns off the color adjustment function and the input color to the function is the same as the output color.
🟣 Order Block Display
Show All Order Block : If it is turned off, only the last Order Block will be displayed.
Demand Main Order Block : Show or not show and specify color.
Demand Sub (Propulsion & BoS Origin) Order Block : Show or not show and specify color.
Supply Main Order Block : Show or not show and specify color.
Supply Sub (Propulsion & BoS Origin) Order Block : Show or not show and specify color.
🟣 Breaker Block Display
Show All Breaker Block : If it is turned off, only the last Breaker Block will be displayed.
Demand Main Breaker Block : Show or not show and specify color.
Demand Sub (Propulsion & BoS Origin) Breaker Block : Show or not show and specify color.
Supply Main Breaker Block : Show or not show and specify color.
Supply Sub (Propulsion & BoS Origin) Breaker Block : Show or not show and specify color.
🟣 Order Block Refinement
Refine Order Blocks : Enable or disable the refinement feature. Mode selection.
🟣 Alert
Alert Name : The name of the alert you receive.
Alert Demand OB Mitigation :
On / Off
Alert Demand BB Mitigation :
On / Off
Alert Supply OB Mitigation :
On / Off
Alert Supply BB Mitigation :
On / Off
Message Frequency :
This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone :
The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
Display More Info :
Displays information about the price range of the order blocks (Zone Price) and the date, hour, and minute under "Display More Info".
If you do not want this information to appear in the received message along with the alert, you should set it to "Off".
Spiral Levels [ChartPrime]SPIRAL LEVELS
⯁ OVERVIEW
The Spiral Levels [ ChartPrime ] indicator, designed for use on TradingView and developed with Pine Script™ , leveraging a combination of traditional pivot points and spiral geometry to visualize support and resistance levels on the chart. By plotting spirals from pivot points, the indicator provides a distinctive perspective on potential price movements.
It's an experiment inspired from spirals in the Pine documentation and the concept of using spirals to add padding/offsets to SR zones in a market (an idea we plan to expand on in the future).
◆ USAGE
● Identifying Pivot Points: The indicator identifies significant pivot highs and lows based on user-defined criteria.
● Filtered Pivot Points: Pivot points for spirals are filtered using volume and high/low thresholds to ensure they are significant.
● Spiral Visualization: Spirals are plotted from these pivots, indicating potential future support and resistance levels or as liquidity zones.
Additionally, the plotted levels can serve as liquidity zones where the price might attempt to grab liquidity, providing a deeper understanding of market behavior at significant volume levels.
● Volume-Based Coloring: Spirals are colored based on volume data, providing additional context about the strength of the price movement.
● Labeling and Line Extensions: Labels display volume information, and lines extend from the end of the spirals to the current bar for clarity.
● Spiral Rotation: By adjusting the "Number of spiral rotations" input, you can control the number of rotations each spiral makes around a pivot point, offering more detailed insights. This also allows you to control the distance of levels from a pivot. More rotations will extend the spiral further from the pivot point, potentially identifying support and resistance levels or liquidity zones at greater distances.
This modification emphasizes that the number of rotations not only provides more detailed insights but also affects the spatial distribution of the identified levels relative to the pivot point.
⯁ USER INPUTS
● Pivots
Left Bars: Determines the number of bars to the left of the pivot.
Right Bars: Determines the number of bars to the right of the pivot.
● Filter
Volume Filter: Sets the threshold for volume filtering.
High & Low Filter: Sets the threshold for filtering pivot highs and lows.
● Spiral
Spirals Shown: Specifies the number of spirals to be displayed on the chart.
Number of spiral rotations: Sets the number of rotations for each spiral.
X Scale: Adjusts the horizontal scale of the spirals.
Y Scale: Adjusts the vertical scale of the spirals, relative to the ATR(200).
Reverse Spirals: Option to reverse the direction of the spirals.
⯁ TECHNICAL NOTES
The indicator uses Pine Script's polyline feature for smooth spiral rendering.
It implements a custom cross detection function to manage line and label visibility.
The script is optimized to limit calculations to the last 1000 bars for performance.
It automatically manages the number of displayed elements to prevent clutter and ensure smooth performance.
The Spiral Levels ChartPrime indicator offers a unique and visually engaging method to identify potential support and resistance levels. By integrating volume data and pivot points with spiral geometry, traders can gain valuable insights into market dynamics and make more informed trading decisions.
Lines of Chaos (ATR/ADR Levels)Lines of Chaos Indicator
This script is designed to provide traders with ATR (Average True Range) and ADR (Average Daily Range) support and resistance levels.
How it Works:
Support and Resistance Lines: The script plots ATR/ADR-based support and resistance lines based on a moving average of the last ATR/ADR Length days, the previous day's close, and the current day's open. Changing the ATR/ADR Length value changes the number of days of data to average.
EMA: The EMA is colored red when the ticker is potentially bearish. The EMA is colored green when the ticker is potentially bullish. Changing the EMA Length changes the number of data bars to average.
Default Settings: The default settings are optimized for most trading environments.
Key Features:
ATR & ADR Calculation: You can use ATR, ADR, or both. ATR is recommended for most scenarios.
Customizable Lengths: Adjust the ATR/ADR Length to refine the average calculation to your preference, with 14 being the standard value.
EMA for Market Bias: The EMA helps determine the ticker bias. It is colored green when the market is above the average price and red when below. This allows you to more easily determine whether or not the ADR/ATR levels are valid.
Versatile Usage: Suitable for various trading types, ensuring broad applicability across different market conditions.
How to Use:
Bounces off Levels: When the price bounces off a support/resistance level, the price will likely respect this level. This indicates that the price is unlikely to exceed the ticker's average volatility.
Breakthroughs of Levels: When the price breaks through a support/resistance level, the price will likely continue beyond this level. This indicates that the price has moved beyond that ticker's average volatility.
Futures Weekly Open RangeThe weekly opening range ( high to low ) is calculated from the open of the market on Sunday (1800 EST) till the opening of the Bond Market on Monday morning (0800 EST). This is the first and most crucial range for the trading week. As ICT has taught, price is moving through an algorithm and as such is fractal; because price is fractal, the opening range can be calculated and projected to help determine if price is trending or consolidating. As well; this indicator can be used to incorporate his PO3 concept to enter above the weekly opening range for shorts if bearish, or entering below the opening range for longs if bullish.
This indicator takes the high and low of weekly opening range, plots those two levels, plots the opening price for the new week, and calculates the Standard Deviations of the range and plots them both above and below of the weekly opening range. These are all plotted through the week until the start of the new week.
The range is calculated by subtracting the high from the low during the specified time.
The mid-point is half of that range added to the low.
The Standard deviation is multiples of the range (up to 10) added to the high and subtracted
from the low.
At this time the indicator will only plot the Standard deviation lines on the minutes time frame below 1 hour.
Only the range and range lines will be plotted on the hourly chart.
Macro Risk On/Off SentimentOverview
As an Ichimoku trader, I've always found it crucial to understand the broader market sentiment before entering trades. That's why I developed this Macro Risk On/Off Sentiment Indicator. It's designed to provide a comprehensive view of global market risk sentiment by analysing multiple factors across different asset classes. By combining nine key market indicators, it produces an overall risk sentiment score, giving me a clearer picture of the market's mood before I apply my Ichimoku strategy.
Rationale
While Ichimoku is powerful for identifying trends and potential entry points, I realised it doesn't always capture the broader market context. Markets don't exist in isolation—they're influenced by a myriad of factors including volatility, economic indicators, and cross-asset relationships. By creating this indicator, I aimed to fill that gap, providing myself with a macro view that complements my Ichimoku analysis.
How It Works
The indicator analyses nine different market factors:
VIX (Volatility Index): Measures market expectations of near-term volatility.
S&P 500 Performance: Represents the overall US stock market performance.
US 10-Year Treasury Yield: Indicates bond market sentiment and economic outlook.
Gold Price Movement: Often seen as a safe-haven asset.
US Dollar Index: Measures the strength of the USD against a basket of currencies.
Emerging Markets Performance: Represents risk appetite for higher-risk markets.
High Yield Bond Spreads: Indicates credit market risk sentiment.
Copper/Gold Ratio: An economic growth indicator.
Put/Call Ratio: Measures overall market sentiment based on options trading.
Each factor is assigned a score based on its z-score relative to its recent history, then weighted according to its perceived importance. The overall risk score is a weighted average of these individual scores.
How I Use It
Before applying my Ichimoku strategy, I first check this indicator to gauge the overall market sentiment:
I look at the blue line plotted on the chart, which represents the overall risk score.
I note the background colour: green for risk-on (positive score) and red for risk-off (negative score).
I check the label in the lower-left corner, which provides specific FX pair recommendations and market expectations.
In a risk-on environment (positive score):
I focus on long positions in AUD/JPY, NZD/JPY, EUR/USD, etc.
I look for short opportunities in USD/CAD, USD/NOK, etc.
I expect commodities and yields to rise
In a risk-off environment (negative score):
I focus on long positions in USD/JPY, USD/CHF, USD/CAD
I look for short opportunities in AUD/USD, NZD/USD, EUR/USD
I expect increased volatility and falling yields
The strength of the sentiment is reflected in how close the score is to either 1 (strong risk-on) or -1 (strong risk-off). This helps me gauge how aggressive or conservative I should be with my Ichimoku trades.
Customisation
I've designed this indicator to be flexible. You can modify it to:
Adjust the lookback period and moving average length (both default to 30)
Change the weighting of different factors in the final score calculation
Include or exclude specific factors based on your analysis needs
By combining this Macro Risk On/Off Sentiment Indicator with my Ichimoku analysis, I've found I can make more informed trading decisions, taking into account both the technical setups I see on the chart and the broader market context.
Strength Measurement -HTThe Strength Measurement -HT indicator is a tool designed to measure the strength and trend of a security using the Average Directional Index (ADX) across multiple time frames. This script averages the ADX values from five different time frames to provide a comprehensive view of the trend's strength, helping traders make more informed decisions.
Key Features:
Multi-Time Frame Analysis: The indicator calculates ADX values from five different time frames (5 minutes, 15 minutes, 30 minutes, 1 hour, and 4 hours) to offer a more holistic view of the market trend.
Trend Strength Visualization: The average ADX value is plotted as a histogram, with colors indicating the trend strength and direction, making it easy to visualize and interpret.
Reference Levels: The script includes horizontal lines at ADX levels 25, 50, and 75 to signify weak, strong, and very strong trends, respectively.
How It Works
Directional Movement Calculation: The script calculates the positive and negative directional movements (DI+) and (DI-) using the true range over a specified period (default is 14 periods).
ADX Calculation: The ADX value is derived from the smoothed moving average of the absolute difference between DI+ and DI-, normalized by their sum.
Multi-Time Frame ADX: ADX values are computed for the 5-minute, 15-minute, 30-minute, 1-hour, and 4-hour time frames.
Average ADX: The script averages the ADX values from the different time frames to generate a single, comprehensive ADX value.
Trend Visualization: The average ADX value is plotted as a histogram with colors indicating:
Gray for weak trends (ADX < 25)
Green for strengthening trends (25 ≤ ADX < 50)
Dark Green for strong trends (ADX ≥ 50)
Light Red for weakening trends (ADX < 25)
Red for strong trends turning weak (ADX ≥ 25)
Usage
Trend Detection: Use the color-coded histogram to quickly identify the trend strength and direction. Green indicates a strengthening trend, while red signifies a weakening trend.
Reference Levels: Utilize the horizontal lines at ADX levels 25, 50, and 75 as reference points to gauge the trend's strength.
ADX < 25 suggests a weak trend.
ADX between 25 and 50 indicates a moderate to strong trend.
ADX > 50 points to a very strong trend.
Multi-Time Frame Insight: Leverage the averaged ADX value to gain insights from multiple time frames, helping you make more informed trading decisions based on a broader market perspective.
Feel free to explore and integrate this indicator into your trading strategy to enhance your market analysis and decision-making process. Happy trading!
ATR/ADR Support and Resistance LevelsATR/ADR Support and Resistance Levels Indicator
This script is designed to provide traders with precise ATR (Average True Range) and ADR (Average Daily Range) support and resistance levels. It can be effectively used to identify price breakouts or rejections near these critical lines and assist in confirming trend retests.
How It Works:
Support and Resistance Lines: The script plots ATR/ADR-based support and resistance lines, which can be toggled on or off.
Daily Data Integration: It incorporates daily open and close prices to enhance the accuracy of the support and resistance levels.
Clear Visuals: The indicator uses distinct colors for support (green) and resistance (red) levels, providing clear visual cues.
Default Settings: The default settings are optimized for most trading environments. Adjusting the ATR/ADR Length can fine-tune the indicator's responsiveness to market movements.
Key Features:
ATR & ADR Calculation: Choose between using ATR, ADR, or both. ATR is recommended for most scenarios.
Customizable Lengths: Adjust the ATR/ADR Length to refine the average calculation to your preference, with 14 being the standard value.
EMA for Market Bias: The EMA helps determine the ticker bias. It is colored green when the market is above the average price and red when it is below. This allows you to more easily determine whether or not the ADR/ATR levels are valid.
Versatile Usage: Suitable for various trading types, ensuring broad applicability across different market conditions.
How to Use:
ATR vs ADR: You should use ADR if you are day trading AND do not want to include gap data in the levels. It is recommended you use ATR.
Bounces off Levels: When price bounces off of a support/resistance level, it is very likely that price will respect this level. This indicates that price is unlikely to move beyond the ticker's average volatility. You should wait for an additional bounce to confirm.
Breakthroughs of Levels: When price breaks through a support/resistance level, it is very likely that price will continue beyond this level. This indicates that price has moved beyond that ticker's average volatility. You should wait for a bounce off the level to confirm.
This indicator is a valuable tool for traders seeking to enhance their technical analysis with support and resistance levels based on ATR and ADR calculations. It is perfect for identifying key price points and understanding market trends.
Visible Range Support and Resistance [AlgoAlpha]🌟 Introducing the Visible Range Support and Resistance 🌟
Discover key support and resistance levels with the innovative "Visible Range Support and Resistance" indicator by AlgoAlpha! 🚀📈 This advanced tool dynamically identifies significant price zones based on the visible range of your chart, providing traders with crucial insights for making informed decisions.
Key Features:
Dynamic support and resistance levels based on visible chart range 📏
User-defined resolution for tailored analysis 🎯
Clear visual representation of significant key zones 🖼️
Easy integration with any trading strategy 💼
How to Use:
🛠 Add the Indicator : Add the indicator to favourites. Adjust settings like resolution and horizontal extension to suit your trading style.
📊 Market Analysis : Identify key support and resistance zones based on the highlighted areas. These zones indicate significant price levels where the market may react.
How it Works:
The indicator segments the price range into user-defined resolutions, analyzing the highest and lowest points to establish boundaries. It calculates the frequency of price action within these segments, highlighting key levels where price movements are least concentrated (areas where price tends to pivot). Customizable settings like resolution and horizontal extension allow for tailored analysis, while the intuitive visual representation makes it easy to spot potential support and resistance zones directly on your chart.
By leveraging this indicator, you can gain deeper insights into market dynamics and improve your trading strategy with data driven support and resistance analysis. Happy trading! 💹✨
FVG Positioning Average with 200EMA Auto Trading [Pakun]Description
Strategy Name and Purpose
FVG Positioning Average with 200EMA Auto Trading
This strategy uses Fair Value Gaps (FVG) combined with a 200-period Exponential Moving Average (EMA) and Average True Range (ATR) to generate trend-based trading signals. It is designed to help traders identify high-probability entry points by leveraging the gaps between fair value prices and current market prices.
Originality and Usefulness
This script combines multiple indicators to create a cohesive trading strategy that is greater than the sum of its parts. While FVG is a powerful tool on its own, combining it with the EMA and ATR adds layers of confirmation and risk management, enhancing its effectiveness. Here’s how the components work together:
Fair Value Gap (FVG): Identifies gaps in the market where price action has not fully filled, indicating potential reversal or continuation points.
200-period Exponential Moving Average (EMA): Acts as a trend filter to ensure trades are taken in the direction of the overall trend, improving the probability of success.
Average True Range (ATR): Used to filter out insignificant gaps and set dynamic stop-loss levels based on market volatility, enhancing risk management.
Entry Conditions
Long Entry
The close price crosses above the downtrend FVG.
The close price, FVG up average, and down average are all above the 200 EMA, indicating a strong bullish trend.
Short Entry
The close price crosses below the uptrend FVG.
The close price, FVG up average, and down average are all below the 200 EMA, indicating a strong bearish trend.
Exit Conditions
For long positions, the stop loss is set at the recent low, and the take profit is set at a point with a risk-reward ratio of 1:1.5.
For short positions, the stop loss is set at the recent high, and the take profit is set at a point with a risk-reward ratio of 1:1.5.
Risk Management
Account Size: 1,000,000 yen
Commission and Slippage: 2 pips commission and 1 pip slippage per trade
Risk per Trade: 10% of account equity
The stop loss is based on the recent low or recent high, ensuring trades are exited when the market moves against the position.
Settings Options
FVG Lookback: Set the lookback period for calculating FVGs.
Lookback Type: Choose the type of lookback (Bar Count or FVG Count).
ATR Multiplier: Set the multiplier for ATR to filter significant gaps.
EMA Period: Set the period for the EMA to adjust the trend filter sensitivity.
Show FVGs on Chart: Choose whether to display FVGs on the chart for visual confirmation.
Bullish/Bearish Color: Set the color for bullish and bearish FVGs to distinguish them easily.
Show Gradient Areas: Choose whether to display gradient areas to highlight the zones of interest.
Sufficient Sample Size
The strategy has been backtested with 113 trades, providing a sufficient sample size to evaluate its performance.
Notes
This strategy is based on historical data and does not guarantee future results.
Thoroughly backtest and validate results before using in live trading.
Market volatility and other external factors can affect performance and may not yield expected results.
Acknowledgment
This strategy uses the FVG Positioning Average Strategy indicator. Thanks to for their contribution.
Clean Chart Explanation
The script is published with a clean chart to ensure that its output is readily identifiable and easy to understand. No other scripts are included on the chart, and any drawings or images used are specifically to illustrate how the script works.
Sector Analysis This indicator offers a straightforward yet effective way to analyze and compare the performance of various sectors within the market. By normalizing and plotting sector-specific data as lines on the chart, it enables users to quickly assess sector rotations, relative strength, and potential shifts in market dynamics. The sector labels further enhance usability by clearly identifying each line’s corresponding sector, facilitating easy interpretation and analysis.
Fibonacci Warzone BoxesThe "Fibonacci Warzone Boxes" is a unique trading indicator that leverages the power of Fibonacci retracement levels to identify critical support and resistance zones. Designed for both seasoned traders and novices, this tool dynamically calculates the 38.2% and 61.8% retracement levels from the highest and lowest prices within a user-defined lookback period and timeframe. By highlighting these zones, the indicator assists traders in making informed decisions about entry and exit points.
Unlike standard Fibonacci tools, the "Fibonacci Warzone Boxes" provides a visual representation of Fibonacci levels in the form of easy-to-interpret boxes, enhancing the decision-making process. This method helps traders quickly understand where significant price action can occur, improving their reaction time and strategic approach to the markets.
A. Key Features:
- Dynamic Fibonacci Levels: Automatically updates Fibonacci retracement levels based on the price action within the selected timeframe and lookback period.
- Customizable Settings: Users can easily adjust the timeframe, lookback period, and box transparency to suit their trading style and the specific characteristics of the asset they are trading.
- Visual Effectiveness: The indicator uses colored boxes (customizable in terms of color and transparency) to clearly denote the Fibonacci war zones, making it easy to spot key levels at a glance.
B. Usage:
To use this indicator, simply apply it to any chart and set the desired timeframe and lookback period. The indicator is particularly useful in markets with clear trends where Fibonacci levels can predict potential reversal points.
C. Benefits:
Enhanced Decision Making: Helps traders identify potential buy and sell zones based on historical price levels.
Adaptability: Works on any timeframe and with any market, making it a versatile tool for various trading strategies.
Ease of Use: Designed with a user-friendly interface, requiring minimal setup for optimal performance.
D. Guidelines for Use:
Ensure your chart is uncluttered to make the best use of this indicator.
Adjust the settings based on the volatility and characteristics of the market you are trading.
Combine this tool with other indicators for a comprehensive trading strategy, but avoid overcrowding the chart to maintain clarity.
Symbolik SequentialThe Symbolik Sequential indicator aims to identify potential trend exhaustion points and trend reversals in the market. It consists of two main components: Setup and Countdown.
Setup:
A bullish setup occurs when there are 9 consecutive closes lower than the close 4 bars earlier.
A bearish setup occurs when there are 9 consecutive closes higher than the close 4 bars earlier.
When a setup is completed, it's called "perfected" and is shown as a triangle on the chart (green triangle for bullish, red for bearish).
Countdown:
After a setup is perfected, a countdown begins.
For a bullish countdown, it counts up to 13 when the close is lower than the low two bars earlier.
For a bearish countdown, it counts up to 13 when the close is higher than the high two bars earlier.
Countdown numbers are displayed on the chart (green at the bottom for bullish, red at the top for bearish).
Why it Signals:
The indicator signals potential trend exhaustion and reversal points.
A perfected setup (triangle) suggests that the current trend might be losing momentum.
A completed countdown (reaching 13) indicates a higher probability of a trend reversal.
Trend is weakening when both bearish and bullish countdowns are occurring at the same time.
How to Best Use It:
Setup Signals:
When you see a green triangle (bullish setup), it might indicate a potential bottom. Consider looking for buying opportunities.
When you see a red triangle (bearish setup), it might indicate a potential top. Consider looking for selling opportunities.
However, don't rely solely on these signals; use them in conjunction with other technical analysis tools.
Countdown:
As the countdown progresses, be increasingly cautious about the current trend.
When the countdown reaches 13, it signals a high probability of a trend reversal. Consider closing positions or preparing for a potential reversal.
Conflicting Signals:
The indicator doesn't show a bullish setup signal if there's an active bearish countdown, and vice versa. This helps avoid conflicting signals.
RSI Trail [UAlgo]The RSI Trail indicator is a technical analysis tool designed to assist traders in making informed decisions by utilizing the Relative Strength Index (RSI) and various moving average calculations. This indicator dynamically plots support and resistance levels based on RSI values, providing visual cues for potential bullish and bearish signals. The inclusion of a trailing stop mechanism allows traders to adapt to market volatility, ensuring optimal entry and exit points.
🔶 Key Features
Multiple Moving Average Types: Choose from Simple Moving Average (SMA), Exponential Moving Average (EMA), Weighted Moving Average (WMA), Running Moving Average (RMA), and McGinley Dynamic for diverse analytical approaches.
Configurable RSI Bounds: Tailor the RSI lower and upper bounds to your specific trading preferences, with default settings at 40 and 60.
Signals: The indicator determines bullish and bearish market states and plots corresponding signals on the chart.
Customizable Visualization: Options to display the midline and color candles based on market state enhance visual analysis.
Alerts: Integrated alert conditions notify you of bullish and bearish signals.
🔶 Calculations
The RSI Trail indicator calculates dynamic support and resistance levels using a combination of moving averages and the Relative Strength Index (RSI). It starts by computing a chosen moving average (SMA, EMA, WMA, RMA, or McGinley) over a period of 27 using the typical price (ohlc4).
The indicator then defines upper and lower bounds based on customizable RSI levels (default 40 and 60) and adjusts these bounds using the Average True Range (ATR) to account for market volatility. The upper bound is calculated by adding a volatility-adjusted value to the moving average, while the lower bound is found by subtracting this value. Bullish signals occur when the price crosses above the upper bound, and bearish signals when it falls below the lower bound.
The RSI Trail indicator also can be used to identify pullback opportunities. When the price high/low crosses above/below the calculated upper/lower bound, it indicates a potential pullback, suggesting a favorable point to enter a trade during a pullback.
🔶 Disclaimer
This indicator is for informational purposes only and should not be considered financial advice.
Always conduct your own research and due diligence before making any trading decisions. Past performance is not necessarily indicative of future results.
Weighted Volume Profile | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Weighted Volume Profile Indicator! This indicator renders a volume profile based on the volume of latest candlesticks. It can be adjusted to give more weight to recent or past candlesticks, or can be used as a normal volume profile. For more information, please read the full write-up.
Features of the new Weighted Volume Profile indicator :
Renders Volume Profile Of Current Ticker
Adjustable Weighthing Towards Past or Recent
Customizable Row Count & Maximum Distance
Left or Right Alignment
More Styling Options
🚩UNIQUENESS
This indicator differs from a normal volume profile indicator by it's ability to weight volumes based on their distance to the current time. Giving weight to volumes may offer new trading opportunities to traders as they can now see the most recent Point Of Control (POC) or a more powerful but past POC based on their choice. The indicator also has a variety of useful styling settings such as aligning the volume profile to the right or the left of the chart, POC Line styling and color settings for bullish & bearish volumes.
📌 HOW DOES IT WORK ?
A volume profile provides an in-depth look at trading activity over a period of time by plotting a histogram on the price axis. This indicator can also give weight to volumes based on their distance to the current time, essentially determining their importance for the profile. Here is how it works step-by-step :
1. Determine how much candlesticks the volume profile will cover (Analyze Bars setting)
2. Make a range from the highest point of chart to the lowest point of chart, then divide it into rows (Row Count setting)
3. For each candlestick, add it's volume to the corresponding row in the range. Note that the volume can be added into several rows if it overlaps with them.
4. If the candlestick is a bullish candlestick, we add it's volume into the bullish volume of the row, if it's a bearish candlestick, we add it to the bearish volume of the row.
With the weighted volume mode, which is activated if "Volume Weighthing" setting is set to "Recent" or "Past", all volumes get a penalty based on their distance to the latest candletstick. For example, if the setting is set to "Recent", the latest candlestick contributes it's volume by 100% to the corresponding row, but the candlestick which is 50 candlesticks far from the current candlestick only contributes it's volume by ~17% to the row. The same applies to the "Past" setting, but in the reversed order, where past candlesticks have more priority than the current ones.
Volume contribution percent for "Recent" setting : ((100 * 0.85) / (i + 1)) + (100 * (1.0 - 0.85))
Volume contribution percent for "Past" setting : ((100 * 0.85) * ((i + 1) / N)) + (100 * (1.0 - 0.85))
Where i = candlestick index from right to left, N = total number of candlesticks analyzed by the volume profile.
The Point Of Control (POC) line is drawn from the row with the most total volume, and is generally considered as a strong level because a lot of trading volume happened on that particular row. Traders may use this line as a support & resistance level.
Traders can use this indicator to have an insight of areas which price moves quickly without much volume, or see areas that holds the price still for much longer and plan their trades accordingly.
⚙️SETTINGS
1. General Configuration
Analyze Bars -> Total amount of bars that will be analyzed by the indicator from right to left.
Row Count -> The amount of rows that will the vertical range of chart will be divided into.
Volume Weighting -> The volume weighting mode as explained in the write-up.
2. Style
Align To -> The alignment of the volume profile.
Expectation Breakers [QuantVue]In technical analysis, an "Expectation Breaker" refers to a market event where price action defies typical patterns and anticipated movements, signaling potential shifts in market sentiment and direction.
This indicator looks to take advantage of these opportunities by identifying 2 types of Expectation Breakers: Downside Reversal Buybacks and Upside Reversal Sellbacks.
Downside Reversal
A downside reversals occur when a stock reaches a new high for the user defined lookback period (65 bars by default), and then experiences a larger-than-average drop and closes near its lows. This usually indicates that the market has overextended itself. The expectation is that there will be 2-3 bars of significant selling, following the downside reversal.
However, a notable sign of strength is if the stock rebounds and closes above the downside reversal bar's high within 1-3 bars. This is known as a Downside Reversal Buyback. A rapid recovery following a downside reversal is a powerful bullish indicator, breaking the expectation of lower prices. The quicker price recovers from a downside reversal, the more meaningful it is. Such a swift rebound suggests that the market's strength was underestimated, as downside reversals typically signal a short-term decline.
Upside Reversal
An upside reversal occurs when a stock reaches a new low for the user-defined lookback period (65 bars by default), and then experiences a larger-than-average rise and closes near its highs. This usually indicates that the market has overextended itself to the downside. The expectation is that there will be 2-3 bars of significant buying, following the upside reversal.
However, a notable sign of weakness is if the stock falls back and closes below the upside reversal bar's low within 1-3 bars. This is known as a Upside Reversal Sellback. A rapid fallback following an upside reversal is a powerful bearish indicator, breaking the expectation of higher prices. The quicker price falls back from an upside reversal, the more meaningful it is. Such a swift fallback suggests that the market's weakness was underestimated, as upside reversals typically signal a short-term rally.
The Expectation Breakers indicator identifies these opportunities by first identifying new highs and lows within a defined lookback period. It then compares the true range (TR), average true range (ATR), and closing range to confirm the significance of these reversals. The use of TR and ATR ensures that the reversals are substantial enough to indicate a genuine shift in market sentiment, helping to identify when price action breaks expectations.
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Advanced Order Blocks by AccountantXThe "Advanced Order Blocks by AccountantX" is tool designed to identify and visualize significant order blocks in the market.
This script goes beyond traditional order block detection by integrating advanced features such as volume threshold filtering, ATR-based sizing, and higher timeframe considerations.
How It works:
A. General data :
- Order Block Detection: Identifies bullish and bearish order blocks based on swing highs and lows, with options to filter by volume thresholds to ensure significant levels.
- Volume Threshold: Only displays order blocks where the volume exceeds a user-defined threshold, ensuring the highlighted zones are of particular significance.
- ATR-Based Sizing: Offers the option to use the Average True Range (ATR) for sizing order blocks, allowing for dynamic adjustment based on market volatility.
- Higher Timeframe Integration: Includes the ability to display order blocks from a higher timeframe, providing a broader market perspective.
- Customizable Appearance: Users can customize the colors and transparency of the order blocks, ensuring they fit seamlessly with any chart setup.
B. Code explanation :
- The script allows you to set a minimum volume threshold. Order blocks are only shown if the volume during their formation exceeds this threshold, ensuring that only significant price levels are highlighted.
- When enabled, the ATR (Average True Range) is used to size the order blocks. This means the height of the blocks adjusts dynamically with market volatility, providing a more accurate representation of significant zones.
- The script can display order blocks from a higher timeframe on your current chart. This is useful for aligning shorter-term trading decisions with broader market trends.
C. How to Use:
a) Set the volume threshold to filter out less significant order blocks. Adjust the value according to the typical volume of your trading instrument;
b) Enable the ATR-based sizing and set the period and multiplier to match your trading style. This helps in identifying order blocks relative to market volatility;
c) Choose a higher timeframe if you want to see significant order blocks from a broader market perspective. This can help in making more informed trading decisions.
Acknowledgements:
This script builds upon traditional order block concepts by integrating advanced features and customization options. Special thanks to the TradingView community( @fluxchart, @LuxAlgo_Team) for providing foundational concepts and inspiration.
Important Note
This script is provided as-is for educational purposes.
Dominance DashboardThe "Dominance Dashboard" is a TradingView indicator designed to provide traders with a clear and concise visual representation of Bitcoin Dominance (BTC.D). This script helps traders monitor BTC.D in real-time, offering insights into market dynamics and potential trading signals based on the changes in Bitcoin's market dominance.
Key Features
Real-Time BTC Dominance: Displays the current Bitcoin Dominance percentage.
Historical Comparison: Shows the previous day's Bitcoin Dominance for comparison.
Visual Indicators: Utilizes color-coded arrows to indicate changes in Bitcoin Dominance (increase or decrease).
Customizable Table Settings: Users can customize the position, size, and colors of the displayed table to suit their preferences.
How It Works
Data Retrieval: The script uses request.security to fetch the latest and previous day's BTC.D data.
Comparison Mechanism: It compares the current BTC Dominance with the previous day's value to determine whether BTC.D has increased, decreased, or remained unchanged.
Dynamic Table Display: Based on user preferences, the script dynamically adjusts the table's position, text size, and colors.
Using the Indicator
Table Settings:
Show Header: Toggle the visibility of the table header.
Position: Choose from various predefined positions (e.g., Top Right, Bottom Right) to place the dashboard on your chart.
Text Size: Select the text size (Tiny, Small, Normal, Large) for better readability.
Text and Border Colors: Customize the text and border colors to match your chart's theme.
Timeframe Settings:
Show Current BTC Dominance: Enable or disable the display of the current BTC Dominance percentage.
Underlying Concepts
BTC Dominance: Bitcoin Dominance (BTC.D) measures Bitcoin's market capitalization relative to the total market capitalization of all cryptocurrencies. Monitoring BTC.D helps traders understand the flow of capital in and out of Bitcoin compared to other cryptocurrencies.
Visual Change Indicators: The script uses simple arrow symbols (🔼 for an increase and 🔽 for a decrease) to provide quick visual cues about the direction of change in BTC Dominance. This feature helps traders quickly assess market conditions without deep analysis.
Practical Use Cases
Market Sentiment Analysis: A rising BTC Dominance could indicate a market shift towards Bitcoin, potentially signaling a bearish sentiment for altcoins. Conversely, a falling BTC Dominance might suggest increased interest in altcoins.
Trend Confirmation: Traders can use BTC Dominance trends to confirm their trading strategies. For example, if a trader is bullish on Bitcoin, an increasing BTC Dominance might reinforce their position.
Portfolio Management: By monitoring BTC Dominance, traders can make informed decisions about portfolio rebalancing between Bitcoin and other cryptocurrencies.
