5am Range by Lee5am session high and low marker, can change it to anytime but the team i work with know about this range
Analisis Gelombang
3X RSIRelative Strength Index (RSI) trading is a technical analysis method that uses a momentum oscillator to help traders identify when a security is overbought or oversold:
The RSI measures the speed and size of price changes over a set period of time, and produces a value between 0 and 100. A reading above 70 indicates that prices may be overbought, while a reading below 30 indicates that prices may be oversold. A reading of 50 indicates a neutral level.
Trend Analyser Trading SignalAshish Kyal Trading Gurukul custom indicator to analyze trend, use as a trading signal and also assist if you want to do Elliott wave counting.
This indicator has to be applied on two timeframes. For swing trading it can be applied on Daily and Hourly charts. For Intraday or scalping trading this indicator needs to be applied on Hourly and 15 minutes chart.
This indicator can also be used as a direct trading signal. It can be used to identify primary, intermediate and minor trends.
Elliott wave counting becomes easy by understanding deviation of different lines within the indicators that highlights the strength of counter trend move.
Following explains detailed way in which the indicator can be used -
- The indicator consists of three lines. Each of them is derived using custom formula which is a combination of Stochastic on momentum of prices that helps to understand three different trend of price action. This indicator measures if the reversal momentum itself is significant for sustainable change of trend or reversal momentum is weak and temporary with no danger to ongoing trend.
- Three different parameters are used for each of the lines to provide different degree of trend analysis.
- When all the 3 lines start turning together it indicates a possible change in all the minor, intermediate and primary trend of the market.
- Blue is fastest moving line, red is slower and green is slowest moving line.
- When all the 3 lines of indicator are merged together at the 0 or -100 levels it indicates the trend is strong in that direction.
- If applied on daily time frame chart and all lines are merged together it indicates trend in that direction, now to take a trading signal one can then go to the shorter term chart and use this indicator.
- If on shorter timeframe only one of the 3 lines deviates it indicates minor pullback but the primary trend is unchanged. This is an opportunity to enter the market once price action confirms.
- Combination of Price action along with above indicator is must to derive the trades.
- Stoploss and targets are decided by price action method and entry levels can be identified using the trendanalyser indicator.
- For Elliott wave counts the deviation of one of the three signal lines indicate minor change in wave counts, when all 3 lines deviate together it indicates a bigger wave pattern is getting completed. This way it can assist in Elliott wave counting and pattern recognition as well.
HalfTrend Test NiftyThis is Halftrend modified for Nifty. This is just a test script copied from original Half Trend
MATT 5MATT 5
The MATT 5 is a Linear Regression Oscillator is a indicator designed to provide insights into potential mean reversion and trend conditions. By calculating a linear regression on the closing prices over a user-defined period, this oscillator helps identify overbought and oversold levels and highlights trend changes. The indicator also offers visual cues and color-coded price bars to aid in quick decision-making.
Key Features:
Customizable Look-Back Period:
Input: Length
Default: 20
Description: Determines the period over which the linear regression is calculated. A longer period smooths the oscillator but may lag, while a shorter period is more responsive but may be noisier.
Overbought and Oversold Thresholds:
Inputs: Upper Threshold and Lower Threshold
Default: 1.5 and -1.5 respectively
Description: Define the upper and lower bounds for identifying overbought and oversold conditions. Values outside these thresholds suggest potential reversals.
Candlestick Color Plotting:
Input: Plot Bar Color
Default: false
Description: Option to color the price bars based on the oscillator's value, providing a visual representation of market conditions. Bars turn cyan for positive oscillator values and blue for negative.
Visual markers and labels indicate when the oscillator suggests mean reversion or trend changes, aiding in identifying key market turning points.
Invalidation Levels:
Tracks the highest and lowest prices over a recent period to set levels where the current trend signal would be considered invalidated.
Gradient Color Coding:
Utilizes gradient color coding to enhance the visualization of oscillator values, making it easier to interpret overbought and oversold conditions.
Usage Notes:
Setting the Look-Back Period:
Adjust the "Length" input based on the timeframe and the type of trading you are conducting. Shorter periods are more suited for intraday trading, while longer periods can be used for swing trading.
Interpreting Thresholds:
Use the upper and lower threshold inputs to fine-tune the sensitivity of the overbought and oversold signals. Higher absolute values reduce the number of signals but increase their reliability.
Candlestick Coloring:
Enabling the "Plot Bar Color" option can help quickly identify the current state of the oscillator in relation to the zero line. This visual aid can be particularly useful in fast-moving markets.
Mean Reversion and Trend Signals:
Pay attention to the symbols and labels on the chart indicating mean reversion and trend changes. These signals are designed to highlight potential entry and exit points.
Invalidation Levels:
Use the plotted invalidation levels as stop-loss or signal invalidation points. If the price moves beyond these levels, the current trend signal is likely invalid.
This indicator helps traders identify overbought and oversold conditions, potential mean reversions, and trend changes based on the linear regression of the closing prices over a specified look-back period.
Alternate Bat Harmonic Pattern [TradingFinder] ALT Bat Indicator🔵 Introduction
The Alternate Bat harmonic pattern is one of the most precise and practical tools in technical analysis, introduced by Scott Carney in 2003. This pattern focuses on specific Fibonacci ratios, such as 0.382 at point B and 1.13XA at point D, to identify Potential Reversal Zones (PRZ) where price is likely to reverse.
The Alternative Bat pattern emerged as a result of repeated failures observed in the standard Bat pattern. Traders entering trades near the 0.886XA level of the standard Bat often encountered losses. In the Alternate Bat, point D extends beyond 0.886XA, typically reversing at 1.13XA, offering a more accurate identification of the reversal zone.
A key characteristic of this pattern is its M- or W-shaped structure, where the midpoint B retraces 0.382XA or less. Additionally, the CD leg requires an extension of 2.0 to 3.618 to complete the pattern. Due to its accuracy and the predictable behavior of price near the PRZ, the Alternate Bat pattern is recognized as a powerful tool for forecasting price reversals.
In the bullish Alternative Bat pattern, an M-shaped structure forms. After an initial upward movement (XA), price undergoes a short correction at point B (0.382XA) and then declines toward point D (1.13XA and an extension of 2.0 to 3.618BC), where a potential upward reversal is expected.
In the bearish Alternate Bat pattern, a W-shaped structure forms. After an initial downward movement (XA), price retraces slightly at point B (0.382XA) and then rises toward point D (1.13XA and an extension of 2.0 to 3.618BC), where a potential downward reversal is anticipated.
🔵 How to Use
The Alternate Bat harmonic pattern is a key tool for identifying potential reversal zones (PRZ) in the market. By leveraging the 0.382 retracement at point B and the 1.13XA extension at point D, along with symmetrical price structures, this pattern offers precise reversal opportunities in both bullish and bearish market conditions.
🟣 Bullish Alternate Bat Pattern
The bullish Alternate Bat pattern forms during a downtrend, signaling a potential reversal to the upside. This pattern consists of three downward movements with two corrective waves, ultimately reaching point D, which marks the PRZ.
At the PRZ, the convergence of Fibonacci levels—1.13XA and extensions ranging from 2.0 to 3.618BC—creates a strong support zone where price is likely to reverse upward.
🟣 Bearish Alternative Bat Pattern
The bearish Alternate Bat pattern develops during an uptrend, indicating a potential reversal to the downside. This pattern features three upward price movements with two retracements, ending at point D, where the PRZ forms.
Point D is defined by the 1.13XA extension and the 2.0 to 3.618BC projection, creating a strong resistance zone where price is expected to reverse downward.
🔵 Setting
🟣 Logical Setting
ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition.
Show Valid Format : If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern.
Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk.
Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period.
🟣 Genaral Setting
Show : Enter "On" to display the template and "Off" to not display the template.
Color : Enter the desired color to draw the pattern in this parameter.
LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness.
LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries.
🟣 Alert Setting
Alert : 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.
🔵 Conclusion
The Alternate Bat harmonic pattern, with its precise Fibonacci ratios like 0.382 and 1.13XA, is a reliable tool for identifying Potential Reversal Zones (PRZ) in financial markets. By recognizing symmetrical price structures and focusing on both bullish and bearish scenarios, traders can identify optimal entry and exit points with high accuracy.
The key strength of this pattern lies in its ability to define strong support and resistance zones near the PRZ, increasing the probability of price reversals. Combining the pattern with candlestick confirmations and volume analysis enhances its effectiveness.
Ultimately, incorporating the Alternative Bat pattern with proper risk management and Fibonacci-based targets allows traders to enter the market confidently and capitalize on potential price reversals.
DCA Alpha 1.0 Trading Tool for Dollar-Cost Averaging
Description:
DCA Alpha 1.0 is a precision-engineered trading tool designed to assist traders and investors in accumulating assets during market downturns. Using proprietary algorithms that combine momentum decay, extreme price deviation metrics, trend dynamics, divergence analysis, and mean regression, it identifies potential bottom extreme zones in various asset classes such as indices, stocks, crypto, and commodities.
This indicator highlights market conditions where assets are oversold, undervalued, or experiencing capitulation—providing disciplined, unleveraged dollar-cost averaging (DCA) opportunities. Ideal for long-term growth strategies, DCA Alpha 1.0 helps cut through market noise, pinpointing moments of peak fear and maximum reward potential.
Whether navigating volatile crypto markets, timing corrections in indices, or accumulating commodities, DCA Alpha 1.0 serves as a vital tool for mastering the art of buying low and building your assets up strategically.
Instructions:
Getting Started:
Add the Indicator:
Install DCA Alpha 1.0 on your TradingView chart.
Select your preferred asset class: stocks, indices, crypto, or commodities.
Choose an appropriate timeframe (e.g., daily or weekly for long-term DCA strategies).
Customize Inputs: Adjust the following settings to align with your strategy:
Percentage of Equity to Trade: Define the portion of your portfolio to allocate per signal (default: 1% equity).
Profit Target Percentages: Set thresholds for locking in gains (default: 50% on lower timeframes, 500% on higher timeframes).
Zones and Signals:
Extreme Negative Zones:
What It Represents:
These zones highlight conditions where prices are deeply oversold, indicating extreme bearish sentiment. The market is likely nearing a bottom, offering high-probability buying opportunities.
Entry Signals:
When the price enters these extreme negative zones, visual markers (e.g., green triangles or other indicators) will signal a potential buying opportunity. These moments are indicative of market exhaustion, signaling that a reversal could be imminent.
Momentum Decay & Divergence:
Momentum decay occurs when price movement slows over time. In extreme negative zones, if prices continue to fall but at a diminishing rate (e.g., decreased volume or a fading oscillator), it suggests weakening bearish momentum. This, coupled with bullish divergence (oscillator forming higher lows while price makes lower lows), signifies a reversal, making it an ideal point to consider dollar-cost averaging into the asset.
Neutral Zones:
What It Represents:
The neutral zone is a state of market equilibrium, where prices are neither overbought nor oversold. The market is in a balanced state, with no strong trend emerging.
Mean Regression:
In a neutral zone, the market is reverting to its mean or average price after overreacting in either direction. A price transition from extreme zones (overbought/oversold) to the neutral zone suggests a reversion to the market's long-term average, making this a period of reduced volatility and uncertainty.
Entering or Exiting Neutral Zones:
Traders should avoid entering or exiting positions during neutral zone conditions unless transitioning from an extreme zone (negative or positive). Transitioning from an extreme negative zone to neutral may suggest an opportunity to accumulate assets gradually, while a shift from neutral to an extreme negative zone may indicate a deeper correction and warrant caution.
Momentum Decay & Divergence (Exiting Neutral Zone):
If prices are rising but the oscillator shows lower highs (bearish divergence), and momentum is fading, this could signal a pullback. A transition out of the neutral zone in this context may prompt traders to hold off on new positions or consider profit-taking.
Extreme Positive Zones:
What It Represents:
Markets can also become overbought or overvalued. When price enters extreme positive zones, the asset may be overvalued, suggesting potential selling or a waiting period.
Exit Signals:
Red triangle indicators signal potential exit points when prices reach overbought conditions, signaling a time to lock in profits and reduce exposure.
Momentum Decay & Divergence (Exiting Positive Zone):
When prices are making new highs but momentum is weakening (momentum decay) and the oscillator is showing lower highs (bearish divergence), this could indicate a faltering rally. Such conditions represent an ideal time to reduce exposure or exit positions.
Key Inputs for Customization:
Percentage of Equity to Trade:
This setting allows you to allocate a portion of your total portfolio per buy signal. By default, 1% of equity is used per signal, but this can be adjusted based on your risk tolerance and strategy.
Profit Target Percentages:
These thresholds help lock in gains once the price moves a set percentage in your favor.
Lower Timeframes: Default profit target of 50%.
Higher Timeframes: Default profit target of 500%.
These settings can be customized for specific risk/reward preferences.
Warning!!! : Aggressive Mode
Aggressive Mode is an advanced feature designed for traders who want to increase the frequency of signals during periods of market volatility. This mode will trigger more frequent entries, even into slightly less extreme zones, capturing short-term reversals.
What Aggressive Mode Does:
It amplifies signals by allowing the tool to identify more frequent price reversals, including brief market corrections, increasing trade frequency. While this can offer more trading opportunities, it also exposes you to higher risk.
Warning:
Aggressive Mode should be used only by experienced traders familiar with short-term volatility. The increased frequency of signals could lead to higher risk exposure. Ensure robust risk management practices, such as stop-loss orders and profit-taking strategies, are in place before activating this mode.
Default Setting:
Aggressive Mode is disabled by default. It can be activated at your discretion based on your experience level and risk appetite.
Best Practices:
Focus on High-Quality Assets: Prioritize assets with strong recovery potential (e.g., major indices, blue-chip cryptocurrencies).
Use Longer Timeframes: Minimize market noise and optimize your DCA strategy by focusing on higher timeframes (e.g., daily or weekly charts).
Review Trading Inputs: Regularly adjust your inputs to ensure they align with your financial goals and risk tolerance.
Implement Risk Management: Use stop-loss orders and profit targets to manage risk, especially when using Aggressive Mode.
Disclaimer:
DCA Alpha 1.0 is designed specifically for unleveraged, long-term dollar-cost averaging strategies. It is not intended for day trading or leveraged positions. The tool excels at identifying market dips but cannot guarantee success. Users are fully responsible for their own risk management, including the use of stop-losses, profit targets, and position sizing.
Aggressive Mode increases trade frequency and may lead to higher exposure and potential losses. Only experienced traders should consider using this mode. Always understand the risks involved before incorporating this tool into your trading strategy.
Weighted Fourier Transform: Spectral Gating & Main Frequency🙏🏻 This drop has 2 purposes:
1) to inform every1 who'd ever see it that Weighted Fourier Tranform does exist, while being available nowhere online, not even in papers, yet there's nothing incredibly complicated about it, and it can/should be used in certain cases;
2) to show TradingView users how they can use it now in dem endevours, to show em what spectral filtering is, and what can they do with all of it in diy mode.
... so we gonna have 2 sections in the description
Section 1: Weighted Fourier Transform
It's quite easy to include weights in Fourier analysis: you just premultiply each datapoint by its corresponding weight -> feed to direct Fourier Transform, and then divide by weights after inverse Fourier transform. Alternatevely, in direct transform you just multiply contributions of each data point to the real and imaginary parts of the Fourier transform by corresponding weights (in accumulation phase), and in inverse transform you divide by weights instead during the accumulation phase. Everything else stays the same just like in non-weighted version.
If you're from the first target group let's say, you prolly know a thing or deux about how to code & about Fourier Transform, so you can just check lines of code to see the implementation of Weighted Discrete version of Fourier Transform, and port it to to any technology you desire. Pine Script is a developing technology that is incredibly comfortable in use for quant-related tasks and anything involving time series in general. While also using Python for research and C++ for development, every time I can do what I want in Pine Script, I reach for it and never touch matlab, python, R, or anything else.
Weighted version allows you to explicetly include order/time information into the operation, which is essential with every time series, although not widely used in mainstream just as many other obvious and right things. If you think deeply, you'll understand that you can apply a usual non-weighted Fourier to any 2d+ data you can (even if none of these dimensions represent time), because this is a geometric tool in essence. By applying linearly decaying weights inside Fourier transform, you're explicetly saying, "one of these dimensions is Time, and weights represent the order". And obviously you can combine multiple weightings, eg time and another characteristic of each datum, allows you to include another non-spatial dimension in your model.
By doing that, on properly processed (not only stationary but Also centered around zero data), you can get some interesting results that you won't be able to recreate without weights:
^^ A sine wave, centered around zero, period of 16. Gray line made by: DWFT (direct weighted Fourier transform) -> spectral gating -> IWFT (inverse weighted Fourier transform) -> plotting the last value of gated reconstructed data, all applied to expanding window. Look how precisely it follows the original data (the sine wave) with no lag at all. This can't be done by using non-weighted version of Fourier transform.
^^ spectral filtering applied to the whole dataset, calculated on the latest data update
And you should never forget about Fast Fourier Transform, tho it needs recursion...
Section 2: About use cases for quant trading, about this particular implementaion in Pine Script 6 (currently the latest version as of Friday 13, December 2k24).
Given the current state of things, we have certain limits on matrix size on TradingView (and we need big dope matrixes to calculate polynomial regression -> detrend & center our data before Fourier), and recursion is not yet available in Pine Script, so the script works on short datasets only, and requires some time.
A note on detrending. For quality results, Fourier Transform should be applied to not only stationary but also centered around zero data. The rightest way to do detrending of time series
is to fit Cumulative Weighted Moving Polynomial Regression (known as WLSMA in some narrow circles xD) and calculate the deltas between datapoint at time t and this wonderful fit at time t. That's exactly what you see on the main chart of script description: notice the distances between chart and WLSMA, now look lower and see how it matches the distances between zero and purple line in WFT study. Using residuals of one regression fit of the whole dataset makes less sense in time series context, we break some 'time' and order rules in a way, tho not many understand/cares abouit it in mainstream quant industry.
Two ways of using the script:
Spectral Gating aka Spectral filtering. Frequency domain filtering is quite responsive and for a greater computational cost does not introduce a lag the way it works with time-domain filtering. Works this way: direct Fourier transform your data to get frequency & phase info -> compute power spectrum out of it -> zero out all dem freqs that ain't hit your threshold -> inverse Fourier tranform what's left -> repeat at each datapoint plotting the very first value of reconstructed array*. With this you can watch for zero crossings to make appropriate trading decisions.
^^ plot Freq pass to use the script this way, use Level setting to control the intensity of gating. These 3 only available values: -1, 0 and 1, are the general & natural ones.
* if you turn on labels in script's style settings, you see the gray dots perfectly fitting your data. They get recalculated (for the whole dataset) at each update. You call it repainting, this is for analytical & aesthetic purposes. Included for demonstration only.
Finding main/dominant frequency & period. You can use it to set up Length for your other studies, and for analytical purposes simply to understand the periodicity of your data.
^^ plot main frequency/main period to use the script this way. On the screenshot, you can see the script applied to sine wave of period 16, notice how many datapoints it took the algo to figure out the signal's period quite good in expanding window mode
Now what's the next step? You can try applying signal windowing techniques to make it all less data-driven but your ego-driven, make a weighted periodogram or autocorrelogram (check Wiener-Khinchin Theorem ), and maybe whole shiny spectrogram?
... you decide, choice is yours,
The butterfly reflect the doors ...
∞
Sweep + Cement Candle Coloring with EMA hopdcCertainly! Here's an introduction for the indicator:
---
## Introduction to the Sweep + Cement Candle Coloring with EMA Indicator
The **Sweep + Cement Candle Coloring with EMA Indicator** is a powerful tool designed to enhance your technical analysis and trading strategies. This indicator combines the unique characteristics of Sweep and Cement candle patterns with the dynamic capabilities of Exponential Moving Averages (EMAs), providing traders with insightful signals for potential market movements.
### Key Features:
1. **Candle Coloring**:
- **Sweep + Cement Bullish Candles**: Highlighted in teal when the low of the current candle is lower than the previous candle, and the close is above the previous high. This indicates potential bullish momentum.
- **Sweep + Cement Bearish Candles**: Marked in red when the high of the current candle is higher than the previous candle, and the close is below the previous low, signaling possible bearish pressure.
2. **Exponential Moving Averages (EMAs)**:
- **EMA 0 (Default Length: 9)**: Provides short-term trend direction.
- **EMA 1 (Default Length: 21)** and **EMA 2 (Default Length: 50)**: Offer insights into medium and long-term trends.
- Customizable settings allow traders to adjust EMA lengths and colors based on their preferences.
3. **Trading Signals**:
- **Buy Signal**: Triggered when a bullish Sweep + Cement candle forms, EMA 1 is above EMA 2, and the price closes above all EMAs.
- **Sell Signal**: Activated with a bearish Sweep + Cement candle, EMA 1 below EMA 2, and the price closes below all EMAs.
- Visual arrows on the chart indicate buy and sell opportunities.
4. **Alerts**:
- Configurable alerts notify traders when the price touches any of the EMAs, ensuring you never miss critical levels.
- Alerts for buy and sell signals keep you informed of potential entries and exits.
### How It Benefits Traders:
This indicator is ideal for traders looking to identify and capitalize on market reversals and trend continuations. By integrating candle patterns with EMA analysis, it provides a comprehensive view of market dynamics, making it easier to spot high-probability trading opportunities.
Whether you are a beginner or an experienced trader, the Sweep + Cement Candle Coloring with EMA Indicator can be a valuable addition to your trading toolkit, helping you make informed decisions with confidence.
---
Feel free to adjust the content to better fit your audience or specific use case!
Wyckoff Detector - BidWhalesWyckoff Detector - BidWhales
Description:
I was searching for a powerful Wyckoff indicator on TradingView but couldn’t find one that met my standards. So, I built the Wyckoff Detector - BidWhales, a tool designed to detect live Wyckoff phases and provide visual cues for traders.
---
What is it?
The Wyckoff Detector identifies and visualizes Wyckoff Accumulation and Distribution phases, helping traders spot key turning points in the market. This indicator assists with recognizing essential Wyckoff components like:
- Accumulation (Bullish):
- Selling Climax (SC)
- Automatic Rally (AR)
- Spring
- Sign of Strength (SOS)
- Distribution (Bearish):
- Buying Climax (BC)
- Automatic Reaction (AR)
- Upthrust (UT)
- Sign of Weakness (SOW)
The script is programmed to display these key phases on your chart with labels, dashed lines, and confirmations based on price action and volume.
---
Features:
1. Customizable Inputs:
- Swing Length: Determines the range for detecting climaxes and turning points.
- Volume Climax Multiplier: Adjusts the sensitivity of volume spikes for phase confirmation.
- Error Threshold (%): Controls the margin for phase detection accuracy.
- Minimum Delay Bars: Ensures phases occur with sufficient spacing for reliability.
- Wick Rejection Ratio: Confirms validity of springs and upthrusts with wick-to-body analysis.
2. Automated Phase Detection:
- Dynamically identifies Wyckoff components like SC, AR, Spring, SOS, BC, AR, UT, and SOW.
- Provides labels and horizontal lines to track phases visually.
3. Failure Logic:
- Phases invalidate upon predefined conditions:
- Close below Spring wick for bullish failure.
- Close above Upthrust wick for bearish failure.
- Time-based expiration (Max Bars Back) for stale patterns.
4. Volume Confirmation:
- Volume spikes (climax) are analyzed relative to a moving average, ensuring more accurate phase detection.
5. Clean Visuals:
- Labels and lines are plotted clearly on the chart, helping traders recognize patterns without clutter.
---
How to Use:
1. Add the indicator to your chart.
2. Adjust parameters like Swing Length and Volume Multiplier to suit your timeframe and trading style.
3. Look for Accumulation phases for potential bullish signals and Distribution phases for bearish signals.
4. Use the displayed labels and lines (SC, AR, Spring, etc.) to confirm Wyckoff patterns.
---
Disclaimer:
This indicator is a tool for educational purposes only. It is not financial advice. Always conduct your own analysis before making trading decisions.
---
Script License:
This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at (mozilla.org).
© ProfitSync
Dynamic Fibonacci Retracement 3d / TradingArt3dDynamic Fibonacci Retracement - TradingArt3d.
The Dynamic Fibonacci Retracement is an advanced indicator based on the classic Fibonacci concept, adapted to the dynamic movements of the market. Unlike traditional retracements that remain static, this indicator adjusts Fibonacci levels based on the most relevant moving averages for each market condition, providing more accurate support and resistance levels.
Key Features:
• Fibonacci Moving Averages: Choose Fibonacci moving averages ranging from 1 to 4181.
• Dynamic Recursiveness: Automatically adjusts moving averages through a dynamic algorithm to identify the most representative support and resistance levels on the chart.
• Full Customization: Modify the colors, thickness, and resolution of moving average lines to suit your preferences.
• Mamut Wave Viewer: Intuitive RSI-based visualization to support decision-making in your analysis.
• Visualization Optimization: Options to enhance visualization, including enabling or disabling even or odd recursive moving averages.
Usage Tips:
• Use multiple instances of the indicator to overlay different moving average configurations, obtaining a more precise representation of Fibonacci levels.
• Experiment with different combinations of colors and resolutions to tailor the visualization to your analytical needs.
Archiving Your Analysis:
To preserve your technical analysis and keep a record of your configurations, follow these steps to archive them in TradingView:
1. Adjust the chart and indicator settings as desired.
2. Set your browser zoom to 25% to achieve the best possible resolution and maximize CPU efficiency.
3. Click the "capture image" icon at the top of the screen, or use the keyboard shortcut Alt + Ctrl + S (on PC) or Option + Command + S (on Mac).
4. Save the analysis image in your TradingArt Library for future reference or to share with others.
This functionality allows you to maintain a visual record of your analyses and track your strategies more effectively over time.
Support and Questions:
If you have any questions about using the indicator, feel free to leave a comment in the Comments section of this post or contact me through my TradingView profile. I’ll be happy to help resolve any issues and provide further details about its functionality
[blackcat] L1 Institutional Golden Bottom Indicator█ OVERVIEW
The script " L1 Institutional Golden Bottom Indicator" is an indicator designed to identify potential institutional buying interest or a "golden bottom" in the market. It calculates a series of values based on price movements and plots them on a chart to help traders make informed decisions.
█ LOGICAL FRAMEWORK
The script is structured into several main sections:
1 — Function Definitions: Custom functions xsa and calculate_institutional_golden_bottom are defined.
2 — Input Parameters: The user can set a threshold value for institutional interest.
3 — Calculations: The script calculates various indicators and conditions, including the institutional buy signal.
4 — Plotting: The results of the calculations are plotted on the chart.
5 — Labeling: When a golden bottom is detected, a label is placed on the chart.
The flow of data starts with the input parameters, proceeds through the calculation functions, and finally results in plotted outputs and labels.
█ CUSTOM FUNCTIONS
1 — xsa(src, len, wei)
• Purpose: To calculate a weighted moving average.
• Parameters:
– src: Source data (e.g., price).
– len: Length of the moving average.
– wei: Weighting factor.
• Return Value: The calculated weighted moving average.
2 — calculate_institutional_golden_bottom(close, high, low, threshold)
• Purpose: To determine the institutional golden bottom indicator.
• Parameters:
– close: Closing price.
– high: Highest price.
– low: Lowest price.
– threshold: User-defined threshold for institutional interest. By tuning the threshold value the user can properly identify the institutional golden bottom of the instrument. So, I can say this parameter is used to tune the "sensitivity" of this indicator.
• Return Value: An array containing the institutional indicator, golden bottom signal, and additional values (a1, b1, c1, d1).
█ KEY POINTS AND TECHNIQUES
• Weighted Moving Average (WMA): The xsa function implements a weighted moving average, which is useful for smoothing price data.
• Crossover Detection: The script uses a crossover condition to detect when the institutional indicator crosses above the threshold, indicating a potential buying opportunity.
• Conditional Logic: The script includes conditional statements to control the output of certain values only when specific conditions are met.
• Plotting and Labeling: The script uses plot and label.new functions to visualize the indicator and highlight significant events on the chart.
█ EXTENDED KNOWLEDGE AND APPLICATIONS
• Modifications: The script could be enhanced by adding more customizable parameters, such as different lengths for the moving averages or additional conditions for the golden bottom signal.
• Extensions: Similar techniques could be applied to other types of indicators, such as momentum oscillators or trend-following systems to identify market turning points.
• Related Concepts: Understanding weighted moving averages, crossover signals, and conditional plotting in Pine Script would be beneficial for enhancing this script and applying similar logic to other trading strategies.
Alternative Price [OmegaTools]The Alternative Price script is a sophisticated and flexible indicator designed to redefine how traders visualize and interpret price data. By offering multiple unique charting modes, robust customization options, and advanced features, this tool provides a comprehensive alternative to traditional price charts. It is particularly useful for identifying market trends, detecting patterns, and simplifying complex data into actionable insights.
This script is highly versatile, allowing users to choose from five distinct charting modes: Candles, Line, Channel, Renko, and Bubbles. Each mode serves a unique purpose and presents price information in an innovative way. When using this script, it is strongly recommended to hide the platform’s default price candles or chart data. Doing so will eliminate redundancy and provide a clearer and more focused view of the alternative price visualization.
The Candles mode offers a traditional candlestick charting style but with added flexibility. Users can choose to enable smoothed opens or smoothed closes, which adjust the way the open and close prices are calculated. When smoothed opens are enabled, the opening price is computed as the average of the actual open price and the closing prices of the previous two bars. This creates a more gradual representation of price transitions, particularly useful in markets prone to sudden spikes or irregularities. Similarly, smoothed closes modify the closing price by averaging it with the previous close, the high-low midpoint, and an exponential moving average of the high-low-close mean. This technique filters out noise, making trends and price momentum easier to identify.
In the Line mode, the script displays a simple line chart that connects the smoothed closing prices. This mode is ideal for traders who prefer minimalism or need to focus on the overall trend without the distraction of individual bar details. The Channel mode builds upon this by plotting additional lines representing the highs and lows of each bar. The resulting visualization resembles a price corridor that helps identify support and resistance zones or price compression areas.
The Renko mode introduces a more advanced and noise-filtering method of visualizing price movements. Renko charts, constructed using the ATR (Average True Range) as a baseline, display blocks that represent a specific price range. The script dynamically calculates the size of these blocks based on ATR, with separate thresholds for upward and downward movements. This makes Renko mode particularly effective for identifying sustained trends while ignoring minor price fluctuations. Additionally, the open and close values of Renko blocks can be smoothed to further refine the visualization.
The Bubbles mode represents price activity using circles or bubbles whose size corresponds to relative volume. This mode provides a quick and intuitive way to assess market participation at different price levels. Larger bubbles indicate higher trading volumes, while smaller bubbles highlight periods of lower activity. This visualization is particularly valuable in understanding the relationship between price movements and market liquidity.
The coloring of candles and other chart elements is a core feature of this script. Users can select between two color modes: Normal and Volume. In Normal mode, bullish candles are displayed in the user-defined bullish color, while bearish candles use the bearish color. Neutral elements, such as midpoints or undecided price movements, are shaded with a neutral color. In Volume mode, the candle colors are dynamically adjusted based on trading volume. A gradient color scale is applied, where the intensity of the bullish or bearish colors reflects the volume for that particular bar. This feature allows traders to visually identify periods of heightened activity and associate them with specific price movements.
Engulfing patterns, a popular technical analysis tool, are automatically detected and marked on the chart when the corresponding setting is enabled. The script identifies long engulfing patterns, where the current bar's range completely encompasses the previous bar’s range and indicates a potential bullish reversal. Similarly, short engulfing patterns are identified where the current bar fully engulfs the previous bar in the opposite direction, suggesting a bearish reversal. These patterns are visually highlighted with circular markers to draw the trader’s attention.
Each feature and mode is highly customizable. The colors for bullish, bearish, and neutral movements can be personalized, and the thresholds for patterns or smoothing can be fine-tuned to match specific trading strategies. The script's ability to toggle between various modes makes it adaptable to different market conditions and analysis preferences.
In summary, the Alternative Price script is a comprehensive tool that redefines the way traders view price charts. By offering multiple visualization modes, customizable features, and advanced detection algorithms, it provides a powerful way to uncover market trends, volume relationships, and significant patterns. The recommendation to hide default chart elements ensures that the focus remains on this innovative tool, enhancing its usability and clarity. This script empowers traders to gain deeper insights into market behavior and make informed trading decisions, all while maintaining a clean and visually appealing chart layout.
Keep in mind that some of the modes of this indicator might not reflect the actual closing price of the underlying asset, before opening a trade, check carefully the actual price!
[blackcat] L2 Guppy Swing Trader for Stocks 1D█ OVERVIEW
The script is an indicator designed for use on daily charts (1D) to identify swing trading opportunities in stocks. It calculates a series of exponential moving averages (EMAs) based on a custom "winner ratio" and plots these moving averages to help traders identify potential crossovers and swing points.
█ LOGICAL FRAMEWORK
The script is structured into several main sections:
1 — Custom Functions: Defines functions for calculating the exponential moving average (EMA) and the "winner ratio."
2 — Main Calculation Function: calculate_and_plot_guppy_trader which computes the EMA series based on the winner ratio.
3 — Input Parameters: Allows users to select the price type and period for the calculations.
4 — Data Mapping: Maps the selected price type to the corresponding price series.
5 — Execution and Plotting: Calls the main calculation function, plots the resulting EMAs, and adds labels for crossover signals.
The logical flow starts with the user-defined inputs, then the price type is mapped to the appropriate price series. The custom functions are used to compute the necessary intermediate values, and the main calculation function generates the EMA series. Finally, the EMA series are plotted, and crossover signals are labeled.
█ CUSTOM FUNCTIONS
1 — xda(src, coeff): Calculates an exponential moving average (EMA) for a given source (src) and smoothing coefficient (coeff). It uses a recursive formula to compute the EMA.
2 — winner(price, res): Computes a "winner ratio" based on the price and a specified resolution (res). It fetches historical price data, calculates a win ratio based on price comparisons, and applies an EMA to the win ratio using the historical share outstanding and volume data.
█ KEY POINTS AND TECHNIQUES
• Exponential Moving Averages (EMA): The script uses multiple EMAs to smooth the "winner ratio" and identify trends.
• Winner Ratio Calculation: The "winner ratio" is a custom metric that adjusts based on historical price data and trading volume, providing a unique insight into price momentum.
• Security Function: Utilizes the security function to fetch historical data at different resolutions, which is crucial for calculating the winner ratio.
• Labeling Crossovers: The script uses label.new to visually indicate when the moving averages cross each other, aiding in identifying potential trade signals.
█ EXTENDED KNOWLEDGE AND APPLICATIONS
• Modifications: The script could be modified to include additional EMAs or adjust the winner ratio calculation to incorporate more factors such as volatility or RSI.
• NOTE: Similar techniques could NOT be applied to other timeframes or asset classes, such as forex or cryptocurrencies because they lack of financial data required in this indicator, by adjusting the input parameters and possibly the resolution used in the security function.
• Related Concepts: Understanding the security function in Pine Script is crucial for fetching historical data at different resolutions. Additionally, knowledge of EMA calculations and custom function design in Pine Script would be beneficial for enhancing this script.
CDV Momentum WaveDescription:
This indicator visualizes the Cumulative Delta Volume (CDV) as waves, providing traders with insights into the momentum and strength of buying and selling activity. By tracking the cumulative difference between buying and selling pressure, it highlights shifts in market sentiment with color-coded wave patterns.
How to Use:
Spot Momentum:
Green waves signify strong buying pressure, while red waves indicate dominant selling pressure. Blue and orange waves mark transitions or weaker momentum.
Trend Analysis:
Persistent color and direction in waves reflect a strong trend, while frequent shifts may signal reversals or consolidation.
Sensitivity Adjustment:
Use the mul2 setting to fine-tune wave responsiveness for short-term or long-term analysis.
Wave Position Adjustment:
The osx setting adjusts the visual placement of the waves on the chart.
By default (osx = 0), the waves are aligned directly with the candle data they are calculated from.
Increasing osx shifts the waves forward.
Decreasing osx shifts the waves backward.
This tool helps traders detect momentum shifts, confirm trends, and understand volume dynamics in various market conditions.
Total Volume for Custom PeriodIndicator Description: Total Volume for Custom Period
This indicator calculates the total trading volume for a specified time period and displays the result in the top-right corner of the chart. It is designed for traders and analysts who want to see the cumulative volume over a defined range of time without needing to calculate it manually.
Features:
Customizable Time Period:
Define the start and end times of the calculation using the easy-to-use settings panel.
The indicator dynamically updates as you adjust the dates.
Accurate Volume Calculation:
Calculates the total trading volume for all candlesticks between the selected start and end dates.
Works on all assets and timeframes supported by TradingView (stocks, crypto, forex, etc.).
Fixed Display:
The result is displayed in the top-right corner of the chart inside a clear and simple table.
The value remains visible regardless of chart movement or zoom level.
Real-time Updates:
Automatically recalculates the volume when new data is added or the selected time period changes.
Customizable Design:
Black text with a transparent background ensures the display is clear and non-intrusive.
Large text size for easy readability.
Use Cases:
Volume Analysis: Quickly assess the total trading activity over a specific time period.
Historical Data Analysis: Compare volume data across different time intervals.
Custom Strategies: Use the total volume metric as part of a broader trading strategy or analysis.
How It Works:
Open the settings panel of the indicator and input the desired Start Date and End Date.
The indicator calculates the total trading volume for all candles within the selected range.
The result is displayed in the top-right corner of the chart.
This indicator is a simple yet powerful tool for traders who rely on volume analysis to make informed decisions. It enhances your ability to study market behavior during specific periods and provides insights into trading activity with ease.
Weis Wave Max█ Overview
Weis Wave Max is the result of my weis wave study.
David Weis said,
"Trading with the Weis Wave involves changes in behavior associated with springs, upthrusts, tests of breakouts/breakdowns, and effort vs reward. The most common setup is the low-volume pullback after a bullish/bearish change in behavior."
THE STOCK MARKET UPDATE (February 24, 2013)
I inspired from his sentences and made this script.
Its Main feature is to identify the largest wave in Weis wave and advantageous trading opportunities.
█ Features
This indicator includes several features related to the Weis Wave Method.
They help you analyze which is more bullish or bearish.
Highlight Max Wave Value (single direction)
Highlight Abnormal Max Wave Value (both directions)
Support and Resistance zone
Signals and Setups
█ Usage
Weis wave indicator displays cumulative volume for each wave.
Wave volume is effective when analyzing volume from VSA (Volume Spread Analysis) perspective.
The basic idea of Weis wave is large wave volume hint trend direction. This helps identify proper entry point.
This indicator highlights max wave volume and displays the signal and then proper Risk Reward Ratio entry frame.
I defined Change in Behavior as max wave volume (single direction).
Pullback is next wave that does not exceed the starting point of CiB wave (LH sell entry, HL buy entry).
Change in Behavior Signal ○ appears when pullback is determined.
Change in Behavior Setup (Entry frame) appears when condition of Min/Max Pullback is met and follow through wave breaks end point of CiB wave.
This indicator has many other features and they can also help a user identify potential levels of trade entry and which is more bullish or bearish.
In the screenshot below we can see wave volume zones as support and resistance levels. SOT and large wave volume /delta price (yellow colored wave text frame) hint stopping action.
█ Settings
Explains the main settings.
-- General --
Wave size : Allows the User to select wave size from ① Fixed or ② ATR. ② ATR is Factor x ATR(Length).
Display : Allows the User to select how many wave text and zigzag appear.
-- Wave Type --
Wave type : Allows the User to select from Volume or Volume and Time.
Wave Volume / delta price : Displays Wave Volume / delta price.
Simplified value : Allows the User to select wave text display style from ① Divisor or ② Normalized. Normalized use SMA.
Decimal : Allows the User to select the decimal point in the Wave text.
-- Highlight Abnormal Wave --
Highlight Max Wave value (single direction) : Adds marks to the Wave text to highlight the max wave value.
Lookback : Allows the User to select how many waves search for the max wave value.
Highlight Abnormal Wave value (both directions) : Changes wave text size, color or frame color to highlight the abnormal wave value.
Lookback : Allows the User to select SMA length to decide average wave value.
Large/Small factor : Allows the User to select the threshold large wave value and small wave value. Average wave value is 1.
delta price : Highlights large delta price by large wave text size, small by small text size.
Wave Volume : Highlights large wave volume by yellow colored wave text, small by gray colored.
Wave Volume / delta price : highlights large Wave Volume / delta price by yellow colored wave text frame, small by gray colored.
-- Support and Resistance --
Single side Max Wave Volume / delta price : Draws dashed border box from end point of Max wave volume / delta price level.
Single side Max Wave Volume : Draws solid border box from start point of Max wave volume level.
Bias Wave Volume : Draws solid border box from start point of bias wave volume level.
-- Signals --
Bias (Wave Volume / delta price) : Displays Bias mark when large difference in wave volume / delta price before and after.
Ratio : Decides the threshold of become large difference.
3Decrease : Displays 3D mark when a continuous decrease in wave volume.
Shortening Of the Thrust : Displays SOT mark when a continuous decrease in delta price.
Change in Behavior and Pullback : Displays CiB mark when single side max wave volume and pullback.
-- Setups --
Change in Behavior and Pullback and Breakout : Displays entry frame when change in behavior and pullback and then breakout.
Min / Max Pullback : Decides the threshold of min / max pullback.
If you need more information, please read the indicator's tooltip.
█ Conclusion
Weis Wave is powerful interpretation of volume and its tell us potential trend change and entry point which can't find without weis wave.
It's not the holy grail, but improve your chart reading skills and help you trade rationally (at least from VSA perspective).
Richs Market StructureThis Pine Script indicator, "Last Bullish High & Lowest Low Tracker with Timeframe Background and Fill", is designed to visually track bullish and bearish trends based on price action on the current chart and a user-defined timeframe. It provides dynamic line plotting, area fills, and background coloring to represent trend alignment between the current chart and the selected timeframe.
Features and Functionalities
Tracks Bullish Highs and Bearish Lows:
The script identifies:
Bullish High: The highest price reached after a bullish (green) candle.
Bearish Low: The lowest price reached after a bearish (red) candle.
It dynamically updates these levels based on the price movements.
Line Plotting:
Current Chart Lines:
The Plotted Bullish High line (green/red) indicates the last bullish high.
The Lowest Low line (green/red) indicates the last bearish low.
Selected Timeframe Lines:
A separate set of lines is plotted for the user-defined timeframe (e.g., daily, weekly):
A Bullish High Line for the selected timeframe (lighter green).
A Lowest Low Line for the selected timeframe (lighter red).
Dynamic Area Fills:
The area between the Plotted Bullish High and Lowest Low is filled:
Green Fill: When both lines are green (indicating a bullish alignment).
Red Fill: When both lines are red (indicating a bearish alignment).
For the selected timeframe:
The area between the timeframe-specific Bullish High and Lowest Low is similarly filled with lighter colors.
Background Color Based on Timeframe Alignment:
The background color represents the trend alignment on the selected timeframe:
Green Background: When the timeframe’s Bullish High is rising and Lowest Low is rising (bullish trend).
Red Background: When the timeframe’s Bullish High is falling and Lowest Low is falling (bearish trend).
What It’s For
This indicator is designed for traders who want to:
Visualize Trends Across Timeframes:
It helps identify when the current chart’s trend aligns with a higher timeframe trend (e.g., daily, weekly).
Useful for multi-timeframe analysis.
Spot Bullish and Bearish Trends:
The color-coded lines and fills clearly show the dominant trend on both the current chart and the selected timeframe.
Plan Trades Based on Trend Alignment:
When the current chart and selected timeframe show the same trend:
Both lines and fills turn green (bullish).
Both lines and fills turn red (bearish).
This alignment is a potential signal for entering long or short trades.
Identify Reversals and Divergences:
Divergence between the current chart and timeframe trends (e.g., green on one, red on the other) may indicate trend weakening or reversal.
Visual Elements
Lines:
Solid lines (current chart): Represent the Plotted Bullish High and Lowest Low.
Dashed/lighter lines (selected timeframe): Represent the timeframe-specific Bullish High and Lowest Low.
Fills:
Green/Red fills highlight trend zones:
On the current chart (darker).
On the selected timeframe (lighter).
Background:
The entire chart background turns green or red based on the selected timeframe’s trend alignment.
Summary
This indicator is ideal for traders who want a clear visual representation of price trends and multi-timeframe alignment. It simplifies trend-following strategies by providing:
Easy-to-interpret fills and background colors.
Clear bullish and bearish zones.
Multi-timeframe trend confirmation.
High and Retracement Finder
This Pine Script indicator, titled "High and Retracement Finder," is designed to identify significant highs and lows on a price chart based on a user-defined starting point and retracement threshold. It begins analysis from a manually set bar index and tracks the highest high until the price retraces by a specified percentage (retracement threshold). Once this retracement occurs, it switches focus to finding the lowest low. If the price surpasses the previous high during this phase, the cycle resets, and the script resumes tracking a new highest high. The script visually marks these significant highs and lows with arrows on the chart, helping traders identify potential turning points or retracements in the market.
Trend Speed Analyzer (Zeiierman)█ Overview
The Trend Speed Analyzer by Zeiierman is designed to measure the strength and speed of market trends, providing traders with actionable insights into momentum dynamics. By combining a dynamic moving average with wave and speed analysis, it visually highlights shifts in trend direction, market strength, and potential reversals. This tool is ideal for identifying breakout opportunities, gauging trend consistency, and understanding the dominance of bullish or bearish forces over various timeframes.
█ How It Works
The indicator employs a Dynamic Moving Average (DMA) enhanced with an Accelerator Factor, allowing it to adapt dynamically to market conditions. The DMA is responsive to price changes, making it suitable for both long-term trends and short-term momentum analysis.
Key components include:
Trend Speed Analysis: Measures the speed of market movements, highlighting momentum shifts with visual cues.
Wave Analysis: Tracks bullish and bearish wave sizes to determine market strength and bias.
Normalized Speed Values: Ensures consistency across different market conditions by adjusting for volatility.
⚪ Average Wave and Max Wave
These metrics analyze the size of bullish and bearish waves over a specified Lookback Period:
Average Wave: This represents the mean size of bullish and bearish movements, helping traders gauge overall market strength.
Max Wave: Highlights the largest movements within the period, identifying peak momentum during trend surges.
⚪ Current Wave Ratio
This feature compares the current wave's size against historical data:
Average Wave Ratio: Indicates if the current momentum exceeds historical averages. A value above 1 suggests the trend is gaining strength.
Max Wave Ratio: Shows whether the current wave surpasses previous peak movements, signaling potential breakouts or trend accelerations.
⚪ Dominance
Dominance metrics reveal whether bulls or bears have controlled the market during the Lookback Period:
Average Dominance: Compares the net difference between average bullish and bearish wave sizes.
Max Dominance: Highlights which side had the stronger individual waves, indicating key power shifts in market dynamics.
Positive values suggest bullish dominance, while negative values point to bearish control. This helps traders confirm trend direction or anticipate reversals.
█ How to Use
Identify Trends: Leverage the color-coded candlesticks and dynamic trend line to assess the overall market direction with clarity.
Monitor Momentum: Use the Trend Speed histogram to track changes in momentum, identifying periods of acceleration or deceleration.
Analyze Waves: Compare the sizes of bullish and bearish waves to identify the prevailing market bias and detect potential shifts in sentiment. Additionally, fluctuations in Current Wave ratio values should be monitored as early indicators of possible trend reversals.
Evaluate Dominance: Utilize dominance metrics to confirm the strength and direction of the current trend.
█ Settings
Maximum Length: Sets the smoothing of the trend line.
Accelerator Multiplier: Adjusts sensitivity to price changes.
Lookback Period: Defines the range for wave calculations.
Enable Table: Displays statistical metrics for in-depth analysis.
Enable Candles: Activates color-coded candlesticks.
Collection Period: Normalizes trend speed values for better accuracy.
Start Date: Limits calculations to a specific timeframe.
Timer Option: Choose between using all available data or starting from a custom date.
-----------------
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!
3 Drive Harmonic Pattern [TradingFinder] Three Drive Reversal🔵 Introduction
The Three Drive harmonic pattern closely resembles other price structures such as Wedge Pattern and Three Push Pattern, yet it stands out due to its precise use of Fibonacci ratios and symmetrical price movements.
This pattern comprises three consecutive and symmetrical price drives, each validated by key Fibonacci ratios (1.27 and 1.618), which help identify critical Potential Reversal Zones (PRZ).
Unlike the Wedge, which relies on converging trend lines and can indicate either continuation or reversal, and the Three Push, which lacks defined Fibonacci ratios and symmetry, the Three Drive pattern defines PRZ with greater accuracy, providing traders with high-probability trading opportunities.
This pattern appears in both bullish and bearish trends. After the completion of the third drive (Drive 3), it signals the market's readiness to reverse direction. The PRZ in this pattern serves as a crucial zone where price is highly likely to reverse, offering a strategic point for entering or exiting trades. Professional traders utilize the Three Drive pattern and PRZ as essential tools for analyzing and capitalizing on potential market reversals.
Bullish Pattern :
Bearish Pattern :
🔵 How to Use
The Three Drive harmonic pattern is an effective tool for identifying potential reversal points in the market. By utilizing Fibonacci extension levels (1.27 and 1.618) and focusing on the pattern’s symmetry, traders can pinpoint Potential Reversal Zones (PRZ) where the price is likely to change direction. This pattern works in both bearish and bullish scenarios, each with distinct characteristics and trading opportunities.
🟣 Bullish Three Drive Pattern
The bullish Three Drive pattern develops during a downtrend, indicating a potential reversal to the upside. Similar to its bearish counterpart, this pattern features three consecutive downward price movements (drives) with retracements in between. The third drive concludes within the PRZ, which serves as a strong support zone where the price is expected to reverse upwards.
The first drive begins with a downward movement, followed by a retracement to the 0.618 Fibonacci level. The second drive continues downward to reach a 1.27 or 1.618 Fibonacci extension of the retracement. Finally, the third drive aligns with the PRZ, where a confluence of Fibonacci levels creates a high-probability support zone.
In the PRZ, traders look for bullish confirmation signals such as bullish candlestick patterns (e.g., bullish engulfing or pin bars) or increasing trading volume. Once confirmation is observed, the PRZ becomes an ideal entry point for a buy position. Stop-loss orders are placed slightly below the PRZ to minimize risk, while take-profit targets are set at key resistance levels or Fibonacci retracement levels.
🟣 Bearish Three Drive Pattern
The bearish Three Drive pattern forms during an uptrend, signaling a potential reversal to the downside. This pattern consists of three consecutive upward price movements (drives) and intermediate retracements. Each drive aligns with Fibonacci extension levels, and the third drive ends within the PRZ, indicating a high probability of a bearish reversal.
In the first drive, the price moves upward and then retraces to approximately the 0.618 Fibonacci retracement level, forming the base for the second drive. The second drive then extends upward to the 1.27 or 1.618 Fibonacci extension of the preceding retracement. This process repeats for the third drive, which reaches the PRZ, typically defined by the convergence of Fibonacci levels from previous drives.
Once the PRZ is identified, traders look for confirmation signals such as bearish candlestick patterns (e.g., bearish engulfing or pin bars) or declining trading volume. If confirmation is present, the PRZ becomes an optimal zone for entering a sell position. Stop-loss levels are typically placed slightly above the PRZ to protect against pattern failure, and take-profit targets are set at key support levels or Fibonacci retracement levels of the overall structure.
🟣 Three Drive Vs Wedge Pattern Vs 3 Push pattern
The Three Drive, Wedge, and Three Push patterns are all used to identify potential price reversal points, but they differ significantly in structure and application. The Three Drive pattern is based on three consecutive and symmetrical price movements, validated by precise Fibonacci ratios (1.27 and 1.618), to define Potential Reversal Zones (PRZ).
In contrast, the Wedge pattern relies on converging trend lines and does not require Fibonacci ratios; it can act as either a reversal or continuation pattern. Meanwhile, the Three Push pattern shares similarities with Three Drive but lacks precise symmetry and Fibonacci-based validation.
Instead of a PRZ, Three Push focuses on identifying areas of support and resistance, often signaling weakening momentum in the current trend. Among these, the Three Drive pattern is more reliable for pinpointing high-probability reversal zones due to its strict Fibonacci-based and symmetrical structure.
🔵 Setting
🟣 Logical Setting
ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition.
Show Valid Format : If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern.
Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk.
Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period.
🟣 Genaral Setting
Show : Enter "On" to display the template and "Off" to not display the template.
Color : Enter the desired color to draw the pattern in this parameter.
LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness.
LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries.
🟣 Alert Setting
Alert : 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.
🔵 Conclusion
The Three Drive pattern is a highly effective harmonic tool for identifying potential reversal points in the market. By leveraging its symmetrical structure and precise Fibonacci ratios (1.27 and 1.618), this pattern provides traders with clear entry and exit signals, enhancing the accuracy of their trades.
Whether in bullish or bearish scenarios, the identification of the Potential Reversal Zone (PRZ) serves as a critical aspect of this pattern, enabling traders to anticipate price movements with greater confidence.
Compared to similar patterns like Wedge and Three Push, the Three Drive pattern stands out for its stringent reliance on Fibonacci levels and symmetrical price movements, making it a more robust choice for forecasting reversals. However, as with any technical analysis tool, its effectiveness increases when combined with confirmation signals, such as candlestick patterns, volume analysis, and broader market context.
Mastering the Three Drive pattern requires practice and attention to detail, especially in accurately defining the PRZ and ensuring the pattern adheres to its criteria. Traders who consistently apply this pattern as part of a comprehensive trading strategy can capitalize on high-probability opportunities and improve their overall performance in the market.
Z_MUTIL_CANDEL_v1The Z_MUTIL_CANDEL_v1 indicator is designed to visually represent detailed candlestick information on a chart, overlaying multiple custom candlesticks based on a selected timeframe. This tool provides an enhanced visual understanding of price dynamics, making it easier to analyze trends and volatility.
Key Features:
Customizable Timeframe:
The indicator allows users to select a custom timeframe (default: Daily).
Displays candlestick data (Open, High, Low, Close) from the chosen timeframe.
Custom Candlestick Drawing:
Draws additional candlesticks at customizable positions to visualize key price levels:
Open/Close lines: Highlighted with solid white horizontal lines.
High/Low boxes: Represent the candlestick body and shadows with adjustable colors.
Candlestick colors:
Green: For bullish candles (Close >= Open).
Red: For bearish candles (Close < Open).
Detailed Labels:
Displays information next to the candlestick, including:
The selected timeframe.
Time left for the current bar to close (in HH:mm
format).
The candlestick range (High - Low).
Dynamic Background Highlight:
Highlights the chart's background in red with 80% transparency during a specific time (e.g., 9:00 AM to 9:01 AM).
Customizable Inputs:
Body size (pixels): Adjustable position of the custom candlesticks on the chart.
Show Candlestick Option: Option to display or hide the additional candlesticks.
Multiple Candlestick Layers:
Supports overlaying multiple custom candlesticks for comparison or enhanced visualization.
Practical Applications:
Enhanced Market Analysis: Use the detailed candlestick visuals and labels to better understand price movements and identify potential trading opportunities.
Timeframe Comparison: Compare custom timeframe candles against the current chart for multi-timeframe analysis.
Critical Time Identification: Highlight and analyze market behavior during specific hours using the background coloring feature.
How to Use:
Add the Indicator to Your Chart:
Open the TradingView editor and apply the script.
Adjust the settings to match your analysis needs.
Analyze Custom Candlesticks:
Observe the additional candlesticks and their corresponding data (timeframe, price range, etc.).
Leverage Time-Based Insights:
Use the countdown timer to monitor session closures or key levels around specific times.
Enhance your trading insights by utilizing the Z_MUTIL_CANDEL_v1 indicator for detailed candlestick visualization and analysis. 🚀
Z_TRendThe Z_Trend indicator is designed to detect significant volume spikes during trading sessions and identify the high/low levels of the candlestick with the highest volume in each session. This helps users recognize key price zones and monitor market activity effectively.
Main Features:
Session Classification:
Asian Session: From 0:00 to 14:00 (UTC+7).
European Session: From 14:00 to 19:00 (UTC+7).
US Session: From 19:00 to 23:00 (UTC+7).
Volume Analysis:
Calculates a Simple Moving Average (SMA) of the volume over the last 89 candles.
Marks candles with volumes exceeding defined thresholds:
High Threshold: Default is 1.618 (adjustable).
Low Threshold: Default is 0.618 (adjustable).
Highlighting Highest Volume Candle:
Detects the candle with the highest volume in each session.
Plots the high and low levels of this candle on the chart to signify critical price zones.
Volume-Based Candle Coloring:
Bullish candles (closing above open) with high volume are marked green.
Bearish candles (closing below open) with high volume are marked dark red.
Customizable Inputs:
High Threshold: Set to 1.618 by default; can be adjusted.
Low Threshold: Set to 0.618 by default; can be adjusted.
Chart Visuals:
Green line: Represents the highest price of the candle with the largest volume in the session.
Red line: Represents the lowest price of the candle with the largest volume in the session.
Practical Applications:
Identify Key Price Zones: Use the high/low levels of the high-volume candle to locate potential support/resistance levels.
Analyze Market Dynamics: Observe candle colors and volume to gauge session-specific trends.
Trading Strategy: Utilize these insights to make informed entry and exit decisions.
Notes:
The indicator can be adjusted to fit individual trading strategies.
It is recommended to combine this tool with other indicators for more reliable signals.
Try it out on your chart now to discover potential trading opportunities! 🚀
