Candle VolumeThis indicator gives gives candle volume represented in X.Y format for simplicity.
100% = 1.0
20% = 0.2
Anything 10X is represented by an arrow up or down based on candle price delta open to close.
By default, a 500 candle lookback of volume is used excluding exteem outliers of 50.
You can adjust these in settings.
Candlestick analysis
反彈三次突破策略策略說明 (Strategy Explanation)
英文 (English)
This strategy is called "反彈三次突破策略" (Three Rebound Breakthrough Strategy). It is designed to identify and trade based on three consecutive price drops followed by a rebound, ensuring certain conditions are met before entering a trade. The key components and conditions of this strategy are as follows:
Moving Averages (MAs):
Fast MA: The short-term moving average (e.g., 5 periods).
Slow MA: The long-term moving average (e.g., 20 periods).
The crossover of these MAs generates buy (long) and sell (short) signals.
Average True Range (ATR):
Used to calculate volatility and set stop-loss and take-profit levels.
Three Consecutive Drops and Rebounds:
The strategy identifies three consecutive drops in price, each creating a new lower low (low1, low2, low3).
After the third drop, the price must rebound and break above the previous low's rebound height.
Parallel Channel:
A parallel channel is drawn between the lowest points (low1 and low3) to visualize the price range.
Two lines (lower and upper) form the channel.
Entry and Exit Conditions:
Entry signals are based on MA crossovers and the three rebound condition.
Stop-loss and take-profit levels are set using ATR-based calculations.
Labels are added to the chart to indicate stop-loss and take-profit points.
中文 (Chinese)
這個策略叫做 "反彈三次突破策略"。其目的是識別並基於三次連續價格下跌後的反彈進行交易，並確保在進行交易之前滿足某些條件。該策略的關鍵組成部分和條件如下：
移動平均線 (MAs):
快速均線：短期移動平均線（例如，5 期）。
慢速均線：長期移動平均線（例如，20 期）。
這些均線的交叉產生買入（做多）和賣出（做空）信號。
真實波動範圍 (ATR):
用於計算波動性並設置止損和止盈水平。
三次連續下跌和反彈：
該策略識別連續三次的價格下跌，每次都創下更低的低點（low1、low2、low3）。
在第三次下跌後，價格必須反彈並突破前一個低點的反彈高度。
平行通道：
在最低點（low1 和 low3）之間繪製平行通道，以可視化價格區間。
兩條線（下邊界和上邊界）形成通道。
進出場條件：
進場信號基於均線交叉和三次反彈條件。
使用基於 ATR 的計算設置止損和止盈水平。
在圖表上添加標籤以指示止損和止盈點。
Candle Color Based on EMA ConditionsExplanation:
ta.ema: Calculates the 20 EMA and 200 EMA.
Conditions:
If the close is below both EMAs, the candle color is red.
If the close is above both EMAs, the candle color is green.
If the close is above 20 EMA but below 200 EMA, or below 20 EMA but above 200 EMA, the candle color is blue.
plotcandle: Plots the candles with the specified colors
Advanced Strategy: Buy and Sell//@version=5
indicator("Advanced Strategy: Buy and Sell", overlay=true)
// User Inputs
ema_fast_length = input.int(12, title="EMA Fast Period")
ema_slow_length = input.int(26, title="EMA Slow Period")
rsi_period = input.int(14, title="RSI Period")
macd_fast = input.int(12, title="MACD Fast Period")
macd_slow = input.int(26, title="MACD Slow Period")
macd_signal = input.int(9, title="MACD Signal Period")
bb_length = input.int(20, title="Bollinger Bands Period")
bb_mult = input.float(2.0, title="Bollinger Bands Std Dev")
adx_period = input.int(14, title="ADX Period")
adx_threshold = input.int(20, title="Minimum ADX for Trend Validation")
// Indicator Calculations
ema_fast = ta.ema(close, ema_fast_length)
ema_slow = ta.ema(close, ema_slow_length)
rsi = ta.rsi(close, rsi_period)
= ta.macd(close, macd_fast, macd_slow, macd_signal)
= ta.bb(close, bb_length, bb_mult)
// ADX Calculation
true_range = ta.rma(ta.tr, adx_period)
plus_dm = ta.rma(ta.change(high) > ta.change(low) ? math.max(ta.change(high), 0) : 0, adx_period)
minus_dm = ta.rma(ta.change(low) > ta.change(high) ? math.max(ta.change(low), 0) : 0, adx_period)
plus_di = (plus_dm / true_range) * 100
minus_di = (minus_dm / true_range) * 100
dx = math.abs(plus_di - minus_di) / (plus_di + minus_di) * 100
adx = ta.rma(dx, adx_period)
// Buy Rules
buy_signal = ta.crossover(ema_fast, ema_slow) and rsi < 50 and macd_line > signal_line and close < bb_lower and adx > adx_threshold
// Sell Rules
sell_signal = ta.crossunder(ema_fast, ema_slow) and rsi > 50 and macd_line < signal_line and close > bb_upper and adx > adx_threshold
// Plot Indicators on the Chart
plot(ema_fast, color=color.green, title="EMA Fast")
plot(ema_slow, color=color.red, title="EMA Slow")
plot(bb_upper, color=color.orange, title="Bollinger Upper Band")
plot(bb_lower, color=color.orange, title="Bollinger Lower Band")
// Buy and Sell Signals
plotshape(buy_signal, style=shape.labelup, location=location.belowbar, color=color.green, size=size.small, title="Buy Signal")
plotshape(sell_signal, style=shape.labeldown, location=location.abovebar, color=color.red, size=size.small, title="Sell Signal")
// Alerts
alertcondition(buy_signal, title="Buy Alert", message="Buy Signal Detected!")
alertcondition(sell_signal, title="Sell Alert", message="Sell Signal Detected!")
Fxj PinBar by @GeekexThis is a pin bar detector for fxj strategy
if bigger shadow of last closed candle became double of its body it shows green color and if it's not indicator shows red color
special thanks to Jalil Mehrparvar
written by trexamir
Cumulative Delta AnalyzerCumulative Delta Analyzer (CDA) is a simple script designed to track changes in buying and selling volume. It highlights imbalances that can indicate shifts in market sentiment, helping traders identify potential turning points or trends.
Buyside & Sellside Liquidity and FOMO & PANİK]We Added Advanced Features to LuxAlgo’s Buy-Side and Sell-Side Liquidity Indicator
Buy-Side and Sell-Side Liquidity (Liquidity Hunt) indicators are an important tool for understanding market maker manipulations and analyzing price movements in high-volume areas. This indicator from LuxAlgo allows users to better evaluate the market’s liquidity flow. However, we have made some strategic improvements and additions to further enhance the functionality of this powerful tool.
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Features We Added to the Indicator
1. Liquidity Threshold and Analysis by Time Frames
The user can analyze liquidity movements in different time frames by determining short, medium and long-term periods.
Thanks to the Liquidity Threshold (%) parameter, long (buy) and short (sell) levels are determined according to price change rates.
Volume threshold controls are applied for each period and only high volume movements are taken into account.
2. Detection of Long and Short Liquidity Zones
Buy-Side (Long) Liquidity Zones: Long entry levels below the price are determined and reaction signals are created when the price reaches this level.
Sell-Side (Short) Liquidity Zones: Short entry levels above the price are determined and the levels are visualized on the chart.
These zones are used to detect market maker manipulations in places where liquidity traps may occur.
3. Coloring of High Volume Candles
With volume analysis, high volume candles are marked with different colors to observe the dynamics of price movements more clearly.
For example, candles exceeding volume threshold levels are highlighted with distinct colors such as white, yellow or blue.
4. Analysis of Wick and Volume-Based Long/Short Traps
Long trap and short trap traps are detected based on the length ratios of candle shadows (wick), ATR (Average True Range) and volume change.
These traps are clearly marked on the chart and supported by market psychology signals such as FOMO (fear of missing out) and Panic to the user.
5. Proximity to Liquidity Zones and Alarm Systems
We have added an algorithm that measures how close the price is to the specified liquidity zones. In this way:
Price movements that are less than 2% away from the upper liquidity zone are analyzed.
The same methodology is used for proximity to the middle liquidity zone and lower liquidity zone.
The user is warned when a long trap or short trap occurs with the alarm system.
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FOMO and Panic Algorithm
These updates include additional parameters to analyze investor psychology:
FOMO (Fear of Missing Out):
A FOMO signal is generated when the RSI level is high, the price is near the upper or middle liquidity zones, and sudden price/volume increases are seen.
This signal allows the investor to avoid making unconscious purchases.
Panic:
A panic signal is triggered when the RSI level is low, the price is near the lower or middle liquidity zones, and sudden decreases are seen.
This is designed to prevent investors from selling hastily.
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Benefits of the Developments
1. Prevention of Manipulations:
Price movements are analyzed according to liquidity zones, aiming to protect investors against market maker manipulations.
2. Stronger Strategy with Reaction Levels:
Visualization of long and short liquidity zones provides more reliable signals in trading strategies.
3. Understanding Psychological Barriers:
The impact of investor behavior on the market is better analyzed with FOMO and Panic signals.
4. Advanced Filtering Based on Volume and Volatility:
Volume and volatility analysis minimizes false signals.
---
Conclusion
With these updates, LuxAlgo’s original Buy-Side & Sell-Side Liquidity indicator has been made a more powerful tool. Users can make more informed trades by identifying important levels that market makers may target. Combining multiple variables such as volume, liquidity, RSI and psychological barriers, this system provides a more robust analysis, especially in the cryptocurrency market.
Renko Chart EmulationRenko charts are a popular tool in technical analysis, known for their ability to filter out market noise and focus purely on price movements. Unlike traditional candlestick or bar charts, Renko charts are not time-based but are constructed using bricks that represent a fixed price movement. This makes them particularly useful for identifying trends and key levels of support and resistance. While Renko charts are commonly found on platforms with specialized charting capabilities, they can also be emulated in Pine Script as a line indicator.
The Renko emulation indicator in Pine Script calculates the movement of price based on a user-defined brick size. Whenever the price moves up or down by an amount equal to or greater than the brick size, a new level is plotted, indicating a shift in price direction. This approach helps traders visualize significant price moves without the distractions of smaller fluctuations. By plotting the Renko levels as a continuous line and coloring it based on direction, this indicator provides a clean and straightforward representation of market trends.
Traders can use this Renko emulation line to identify potential entry and exit points, as well as to confirm ongoing trends. The simplicity of Renko charts makes them a favorite among those who prefer a minimalist approach to technical analysis. However, it is essential to choose an appropriate brick size that aligns with the volatility of the trading instrument. A smaller brick size may result in frequent signals, while a larger one can smooth out the chart, focusing only on the most substantial price movements. This script offers a flexible solution for incorporating Renko-style analysis into any trading strategy.
Adaptive Sentiment-Volume MomentumThis is a simple breakout approach using ATR bands and an EMA filter. Test this strategy and let me know how it performs!
FVG Tap with EMA Confirmation and Dynamic Stop Loss & Targettesting fvg and ema cross watch macd and rsi before entering
Reliance 30-Minute Third Candle Breakouthere we are talking about reliance 30 min candle break out it an give you clear break out most of the time
Demo GPT - MACD and RSI Short Strategy//@version=5
strategy("Demo GPT - MACD and RSI Short Strategy", overlay=true, commission_type=strategy.commission.percent, commission_value=0.1, slippage=3)
// Inputs for start and end dates
start_date = input.time(timestamp("2018-01-01 00:00"), title="Start Date")
end_date = input.time(timestamp("2069-12-31 23:59"), title="End Date")
// Inputs for MACD and RSI
macd_short_length = input.int(12, title="MACD Short Length")
macd_long_length = input.int(26, title="MACD Long Length")
macd_signal_length = input.int(9, title="MACD Signal Length")
rsi_length = input.int(14, title="RSI Length")
rsi_overbought = input.int(70, title="RSI Overbought Level")
// Calculate MACD and Signal Line
= ta.macd(close, macd_short_length, macd_long_length, macd_signal_length)
// Fill gaps in MACD and Signal Line
macd_line := na(macd_line) ? macd_line : macd_line
signal_line := na(signal_line) ? signal_line : signal_line
// Calculate RSI
rsi = ta.rsi(close, rsi_length)
// Fill gaps in RSI
rsi := na(rsi) ? rsi : rsi
// Strategy logic: Short when MACD crosses below Signal Line and RSI is above 70
short_condition = ta.crossover(signal_line, macd_line) and rsi > rsi_overbought
// Ensure the strategy only runs between the selected date range
if (time >= start_date and time <= end_date)
if short_condition
strategy.entry("Short", strategy.short, qty=100)
strategy.close("Short")
// Plotting MACD and RSI for reference
plot(macd_line - signal_line, color=color.red, title="MACD Histogram", linewidth=2)
hline(0, "Zero Line", color=color.gray)
plot(rsi, color=color.blue, title="RSI", linewidth=2)
hline(rsi_overbought, "RSI Overbought", color=color.red)
RY-Parabolic Stop and ReverseParabolic Stop and Reverse with Support Resistance (PSAR-SR)
Identify dynamic support and resistance levels based on price movements.
Reduce false signals often generated by the regular PSAR.
Provide more accurate trading decisions by considering previous reversal points as support and resistance.
How Does PSAR-SR Work?
PSAR Reversal Points:
When the regular PSAR generates a reversal signal, the price at that reversal point is used as support (in an uptrend) or resistance (in a downtrend).
Support and Resistance Lines:
Support: A line drawn from the previous PSAR reversal point in an uptrend.
Resistance: A line drawn from the previous PSAR reversal point in a downtrend.
Price often moves sideways between these support and resistance levels before a breakout occurs.
Breakout Above/Below Support and Resistance:
A Buy signal is generated when the price breaks above resistance with a new candle closing above it.
A Sell signal is generated when the price breaks below support with a new candle closing below it.
Strategy Using PSAR-SR
Wait for the Breakout:
Avoid buying or selling immediately when the PSAR gives a signal.
Confirm that the price breaks past the support or resistance levels and forms a new candle outside those lines.
Use Alongside Other Indicators:
PSAR-SR is not recommended as a standalone tool. Use additional confirmation indicators such as:
Moving Average: To identify long-term trends.
RSI or MACD: To confirm momentum or overbought/oversold conditions.
Advantages of PSAR-SR
Reduces False Signals:
By focusing on previous support and resistance levels, PSAR-SR avoids invalid signals.
Helps Identify Breakouts:
It provides better insight for traders to enter the market during valid breakouts.
Limitations of PSAR-SR
Not Suitable for Sideways Markets:
If the price moves sideways for an extended period, the signals may become less effective.
Requires Additional Confirmation:
Should be used in combination with other indicators to improve accuracy.
Conclusion
PSAR-SR is a helpful tool for identifying dynamic support and resistance levels and generating buy/sell signals based on price breakouts. However, it should always be used with additional indicators for confirmation to avoid false trades.
Disclaimer:
Use this indicator at your own risk, and always perform additional analysis before making any trading decisions.
If you'd like further clarification or examples of how to apply this to a chart, feel free to ask! 😊
Custom VWAP + ATR (D.Kh)Линии VWAP и ATR на выбранном инструменте ATR (Average True Range) — это индикатор, измеряющий среднюю волатильность цены за определенный период. Он используется для установки стоп-лоссов, определения рыночной волатильности и создания торговых стратегий. Рассмотрим, как его реализовать и использовать.
[2025] Asian Session with Sweeps and Engulfing Candles EU M15
Kailangan ulit habaan 'yung description
Basta Engulfing Candle 'to after Asian Sweep.
Asian High Swept = Look for Bearish engulfing
Asian Low Swept = Look for Bearish engulfing
P'wede mapalitan 'yung Asian Session time, for example gusto mong gawing ibang time ng liquidity. Basta same logic. Tapos mapapalitan rin 'yung Window na maghahanap ng Engulfing. Tapos may daily bias toggle rin tsaka alerts. Good to go na 'to basta backtest
Range Fractal Filter Buy and Sell 5min By BossFXTraderRange Filter with Buy and Sell
Fractal confirmation with Confluence
Risk Reward is 1:3 best result.
Confluence with another indicator will work.
P/L CalculatorDescription of the P/L Calculator Indicator
The P/L Calculator is a dynamic TradingView indicator designed to provide traders with real-time insights into profit and loss metrics for their trades. It visualizes key levels such as entry price, profit target, and stop-loss, while also calculating percentage differences and net profit or loss, factoring in fees.
Features:
Customizable Input Parameters:
Entry Price: Define the starting price of the trade.
Profit and Stop-Loss Levels (%): Set percentage thresholds for targets and risk levels.
USDT Amount: Specify the trade size for precise calculations.
Trade Type: Choose between "Long" or "Short" positions.
Visual Representation:
Entry Price, Profit Target, and Stop-Loss levels are plotted as horizontal lines on the chart.
Line styles, colors, and thicknesses are fully customizable for better visibility.
Real-Time Metrics:
Percentage difference between the live price and the entry price is calculated dynamically.
Profit/Loss (P/L) and fees are computed in real time to display net profit or loss.
Alerts:
Alerts are triggered when:
The live price hits the profit target.
The live price crosses the stop-loss level.
The price reaches the specified entry level.
A user-defined percentage difference is reached.
Labels and Annotations:
Displays percentage difference, P/L, and fee information in a clear label near the live price.
Custom Fee Integration:
Allows input of trading fees (%), enabling accurate net profit or loss calculations.
Price Scale Visualization:
Displays the percentage difference on the price scale for enhanced context.
Use Case:
The P/L Calculator is ideal for traders who want to monitor their trades' performance and make informed decisions without manually calculating metrics. Its visual cues and alerts ensure you stay updated on critical levels and price movements.
This indicator supports a wide range of trading styles, including swing trading, scalping, and position trading, making it a versatile tool for anyone in the market.
Autonomous 5-Minute RobotKey Components of the Strategy:
Trend Detection:
A 50-period simple moving average (SMA) is used to define the market trend. If the current close is above the SMA, the market is considered to be in an uptrend (bullish), and if it's below, it's considered a downtrend (bearish).
The strategy also looks at the trend over the last 30 minutes (6 candles in a 5-minute chart). The strategy compares the previous close with the current close to detect an uptrend or downtrend.
Volume Analysis:
The strategy calculates buyVolume and sellVolume based on price movement within each candle.
The condition for entering a long position is when the market is in an uptrend, and the buy volume is greater than the sell volume.
The condition for entering a short position is when the market is in a downtrend, and the sell volume is greater than the buy volume.
Trade Execution:
The strategy enters a long position when the trend is up and the buy volume is higher than the sell volume.
The strategy enters a short position when the trend is down and the sell volume is higher than the buy volume.
Positions are closed based on stop-loss and take-profit conditions.
Stop-loss is set at 3% below the entry price.
Take-profit is set at 29% above the entry price.
Exit Conditions:
Long trades will be closed if the price falls 3% below the entry price or rises 29% above the entry price.
Short trades will be closed if the price rises 3% above the entry price or falls 29% below the entry price.
Visuals:
The SMA (50-period) is plotted on the chart to show the trend.
Buy and sell signals are marked with labels on the chart for easy identification.
With this being said this algo is still being worked on to be autonomous
Analyze the Market Direction: Determine whether the market is in an uptrend or downtrend over the past 30 minutes (using the last 6 candles in a 5-minute chart).
Use Trend Indicators and Volume: Implement trend-following indicators like moving averages or the SMA/EMA crossover and consider volume to decide when to enter or exit a trade.
Enter and Exit Trades: The robot will enter long positions when the trend is up and short positions when the trend is down. Additionally, it will close positions based on volume signals and price action (e.g., volume spikes, price reversals).
Forex Hammer and Hanging Man StrategyThe strategy is based on two key candlestick chart patterns: Hammer and Hanging Man. These chart patterns are widely used in technical analysis to identify potential reversal points in the market. Their relevance in the Forex market, known for its high liquidity and volatile price movements, is particularly pronounced. Both patterns provide insights into market sentiment and trader psychology, which are critical in currency trading, where short-term volatility plays a significant role.
1. Hammer:
• Typically occurs after a downtrend.
• Signals a potential trend reversal to the upside.
• A Hammer has:
• A small body (close and open are close to each other).
• A long lower shadow, at least twice as long as the body.
• No or a very short upper shadow.
2. Hanging Man:
• Typically occurs after an uptrend.
• Signals a potential reversal to the downside.
• A Hanging Man has:
• A small body, similar to the Hammer.
• A long lower shadow, at least twice as long as the body.
• A small or no upper shadow.
These patterns are a manifestation of market psychology, specifically the tug-of-war between buyers and sellers. The Hammer reflects a situation where sellers tried to push the price down but were overpowered by buyers, while the Hanging Man shows that buyers failed to maintain the upward movement, and sellers could take control.
Relevance of Chart Patterns in Forex
In the Forex market, chart patterns are vital tools because they offer insights into price action and market sentiment. Since Forex trading often involves large volumes of trades, chart patterns like the Hammer and Hanging Man are important for recognizing potential shifts in market momentum. These patterns are a part of technical analysis, which aims to forecast future price movements based on historical data, relying on the psychology of market participants.
Scientific Literature on the Relevance of Candlestick Patterns
1. Behavioral Finance and Candlestick Patterns:
Research on behavioral finance supports the idea that candlestick patterns, such as the Hammer and Hanging Man, are relevant because they reflect shifts in trader psychology and sentiment. According to Lo, Mamaysky, and Wang (2000), patterns like these could be seen as representations of collective investor behavior, influenced by overreaction, optimism, or pessimism, and can often signal reversals in market trends.
2. Statistical Validation of Chart Patterns:
Studies by Brock, Lakonishok, and LeBaron (1992) explored the profitability of technical analysis strategies, including candlestick patterns, and found evidence that certain patterns, such as the Hammer, can have predictive value in financial markets. While their study primarily focused on stock markets, their findings are generally applicable to the Forex market as well.
3. Market Efficiency and Candlestick Patterns:
The efficient market hypothesis (EMH) posits that all available information is reflected in asset prices, but some studies suggest that markets may not always be perfectly efficient, allowing for profitable exploitation of certain chart patterns. For instance, Jegadeesh and Titman (1993) found that momentum strategies, which often rely on price patterns and trends, could generate significant returns, suggesting that patterns like the Hammer or Hanging Man may provide a slight edge, particularly in short-term Forex trading.
Testing the Strategy in Forex Using the Provided Script
The provided script allows traders to test and evaluate the Hammer and Hanging Man patterns in Forex trading by entering positions when these patterns appear and holding the position for a specified number of periods. This strategy can be tested to assess its performance across different currency pairs and timeframes.
1. Testing on Different Timeframes:
• The effectiveness of candlestick patterns can vary across different timeframes, as market dynamics change with the level of detail in each timeframe. Shorter timeframes may provide more frequent signals, but with higher noise, while longer timeframes may produce more reliable signals, but with fewer opportunities. This multi-timeframe analysis could be an area to explore to enhance the strategy’s robustness.
2. Exit Strategies:
• The script incorporates an exit strategy where positions are closed after holding them for a specified number of periods. This is useful for testing how long the reversal patterns typically take to play out and when the optimal exit occurs for maximum profitability. It can also help to adjust the exit logic based on real-time market behavior.
Conclusion
The Hammer and Hanging Man patterns are widely recognized in technical analysis as potential reversal signals, and their application in Forex trading is valuable due to the market’s high volatility and liquidity. This strategy leverages these candlestick patterns to enter and exit trades based on shifts in market sentiment and psychology. Testing and optimization, as offered by the script, can help refine the strategy and improve its effectiveness.
For further refinement, it could be valuable to consider combining candlestick patterns with other technical indicators or using multi-timeframe analysis to confirm patterns and increase the probability of successful trades.
References:
• Lo, A. W., Mamaysky, H., & Wang, J. (2000). Foundations of Technical Analysis: Computational Algorithms, Statistical Inference, and Empirical Implementation. The Journal of Finance, 55(4), 1705-1770.
• Brock, W., Lakonishok, J., & LeBaron, B. (1992). Simple Technical Trading Rules and the Stochastic Properties of Stock Returns. The Journal of Finance, 47(5), 1731-1764.
• Jegadeesh, N., & Titman, S. (1993). Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency. The Journal of Finance, 48(1), 65-91.
This provides a theoretical basis for the use of candlestick patterns in trading, supported by academic literature and research on market psychology and efficiency.
4H CRT (1AM and 5AM)This TradingView script is designed to assist traders in implementing the "4-Hour Candle Ranges Theory Strategy (CRT)" by identifying key levels and setups based on the 1am and 4am (5am) 4-hour candles. This strategy is particularly effective for trading high-volatility assets such as Gold, EUR/USD, NAS100, US30, and S&P500, with US30 showing a notably high win rate. Here's how the strategy works:
Key Features:
1. Marking 1am and 4am 4-Hour Candle Ranges
- The script highlights the high and low of the 1am 4-hour candle.
- It visually tracks whether the high or low of the 1am candle is taken out by the subsequent 4-hour candle (5am).
2. Entry Setup Rules
- Primary Setup: Wait for the high or low of the 1am candle to be taken out by the 5am candle. Once this sweep occurs, wait for a Market Structure Shift (MSS) on the lower time frame (15min) to confirm your entry.
- Secondary Setup: If the 5am candle fails to take out the high or low of the 1am candle, the setup focuses on the levels formed by the 5am candle.
3. Trade Execution on 15-Minute Timeframe
- The script supports a lower time frame (15min) view to identify MSS and fine-tune entries.
4. Rinse and Repeat
- This process can be applied daily for consistent opportunities across the specified assets.
Advantages:
- Provides clear visual markers for key levels based on the 4-hour candles.
- Automates level plotting, saving traders time and reducing manual errors.
- Integrates well with the 15-minute timeframe for precise entry triggers.
- Optimized for popular trading instruments, especially US30 for a higher probability of success.
This script simplifies the application of CRT by automating the process of identifying and marking critical levels, enabling traders to focus on executing high-probability setups effectively.
Created by Hamid (poraymanfx)
Center of Candle Trendline### **Center of Candle Trendline**
This script dynamically plots a trendline through the center of each candlestick's body. The "center" is calculated as the average of the open and close prices for each candle. The trendline updates in real-time as new candles form, providing a clean and straightforward way to track the market's midline movement.
#### **Features:**
1. **Dynamic Trendline:** The trendline connects the center points of consecutive candlestick bodies, giving a clear visual representation of price movements.
2. **Accurate Center Calculation:** The center is determined as `(open + close) / 2`, ensuring the trendline reflects the true midpoint of each candlestick body.
3. **Real-Time Updates:** The trendline updates automatically as new bars form, keeping your chart up to date with the latest price action.
4. **Customization-Ready:** Adjust the line’s color, width, or style easily to fit your chart preferences.
#### **How to Use:**
- Add this script to your chart to monitor the price movement relative to the center of candlestick bodies.
- Use the trendline to identify trends, reversals, or price consolidation zones.
#### **Applications:**
- **Trend Analysis:** Visualize how the market trends around the center of candlesticks.
- **Reversal Identification:** Detect potential reversal zones when the price deviates significantly from the trendline.
- **Support and Resistance Zones:** Use the trendline as a dynamic support or resistance reference.
This tool is perfect for traders who want a clean and minimalistic approach to tracking price action. Whether you're a beginner or an experienced trader, this script provides valuable insights without overwhelming your chart.
#### **Note:**
This is not a standalone trading strategy but a visual aid to complement your analysis. Always combine it with other tools and techniques for better trading decisions.
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Feel free to tweak this description based on your preferences or style!
Bullish Reversal Bar Strategy [Skyrexio]Overview
Bullish Reversal Bar Strategy leverages the combination of candlestick pattern Bullish Reversal Bar (description in Methodology and Justification of Methodology), Williams Alligator indicator and Williams Fractals to create the high probability setups. Candlestick pattern is used for the entering into trade, while the combination of Williams Alligator and Fractals is used for the trend approximation as close condition. Strategy uses only long trades.
Unique Features
No fixed stop-loss and take profit: Instead of fixed stop-loss level strategy utilizes technical condition obtained by Fractals and Alligator or the candlestick pattern invalidation to identify when current uptrend is likely to be over (more information in "Methodology" and "Justification of Methodology" paragraphs)
Configurable Trading Periods: Users can tailor the strategy to specific market windows, adapting to different market conditions.
Trend Trade Filter: strategy uses Alligator and Fractal combination as high probability trend filter.
Methodology
The strategy opens long trade when the following price met the conditions:
1.Current candle's high shall be below the Williams Alligator's lines (Jaw, Lips, Teeth)(all details in "Justification of Methodology" paragraph)
2.Price shall create the candlestick pattern "Bullish Reversal Bar". Optionally if MFI and AO filters are enabled current candle shall have the decreasing AO and at least one of three recent bars shall have the squat state on the MFI (all details in "Justification of Methodology" paragraph)
3.If price breaks through the high of the candle marked as the "Bullish Reversal Bar" the long trade is open at the price one tick above the candle's high
4.Initial stop loss is placed at the Bullish Reversal Bar's candle's low
5.If price hit the Bullish Reversal Bar's low before hitting the entry price potential trade is cancelled
6.If trade is active and initial stop loss has not been hit, trade is closed when the combination of Alligator and Williams Fractals shall consider current trend change from upward to downward.
Strategy settings
In the inputs window user can setup strategy setting:
Enable MFI (if true trades are filtered using Market Facilitation Index (MFI) condition all details in "Justification of Methodology" paragraph), by default = false)
Enable AO (if true trades are filtered using Awesome Oscillator (AO) condition all details in "Justification of Methodology" paragraph), by default = false)
Justification of Methodology
Let's explore the key concepts of this strategy and understand how they work together. The first and key concept is the Bullish Reversal Bar candlestick pattern. This is just the single bar pattern. The rules are simple:
Candle shall be closed in it's upper half
High of this candle shall be below all three Alligator's lines (Jaw, Lips, Teeth)
Next, let’s discuss the short-term trend filter, which combines the Williams Alligator and Williams Fractals. Williams Alligator
Developed by Bill Williams, the Alligator is a technical indicator that identifies trends and potential market reversals. It consists of three smoothed moving averages:
Jaw (Blue Line): The slowest of the three, based on a 13-period smoothed moving average shifted 8 bars ahead.
Teeth (Red Line): The medium-speed line, derived from an 8-period smoothed moving average shifted 5 bars forward.
Lips (Green Line): The fastest line, calculated using a 5-period smoothed moving average shifted 3 bars forward.
When the lines diverge and align in order, the "Alligator" is "awake," signaling a strong trend. When the lines overlap or intertwine, the "Alligator" is "asleep," indicating a range-bound or sideways market. This indicator helps traders determine when to enter or avoid trades.
Fractals, another tool by Bill Williams, help identify potential reversal points on a price chart. A fractal forms over at least five consecutive bars, with the middle bar showing either:
Up Fractal: Occurs when the middle bar has a higher high than the two preceding and two following bars, suggesting a potential downward reversal.
Down Fractal: Happens when the middle bar shows a lower low than the surrounding two bars, hinting at a possible upward reversal.
Traders often use fractals alongside other indicators to confirm trends or reversals, enhancing decision-making accuracy.
How do these tools work together in this strategy? Let’s consider an example of an uptrend.
When the price breaks above an up fractal, it signals a potential bullish trend. This occurs because the up fractal represents a shift in market behavior, where a temporary high was formed due to selling pressure. If the price revisits this level and breaks through, it suggests the market sentiment has turned bullish.
The breakout must occur above the Alligator’s teeth line to confirm the trend. A breakout below the teeth is considered invalid, and the downtrend might still persist. Conversely, in a downtrend, the same logic applies with down fractals.
How we can use all these indicators in this strategy? This strategy is a counter trend one. Candle's high shall be below all Alligator's lines. During this market stage the bullish reversal bar candlestick pattern shall be printed. This bar during the downtrend is a high probability setup for the potential reversal to the upside: bulls were able to close the price in the upper half of a candle. The breaking of its high is a high probability signal that trend change is confirmed and script opens long trade. If market continues going down and break down the bullish reversal bar's low potential trend change has been invalidated and strategy close long trade.
If market really reversed and started moving to the upside strategy waits for the trend change form the downtrend to the uptrend according to approximation of Alligator and Fractals combination. If this change happens strategy close the trade. This approach helps to stay in the long trade while the uptrend continuation is likely and close it if there is a high probability of the uptrend finish.
Optionally users can enable MFI and AO filters. First of all, let's briefly explain what are these two indicators. The Awesome Oscillator (AO), created by Bill Williams, is a momentum-based indicator that evaluates market momentum by comparing recent price activity to a broader historical context. It assists traders in identifying potential trend reversals and gauging trend strength.
AO = SMA5(Median Price) − SMA34(Median Price)
where:
Median Price = (High + Low) / 2
SMA5 = 5-period Simple Moving Average of the Median Price
SMA 34 = 34-period Simple Moving Average of the Median Price
This indicator is filtering signals in the following way: if current AO bar is decreasing this candle can be interpreted as a bullish reversal bar. This logic is applicable because initially this strategy is a trend reversal, it is searching for the high probability setup against the current trend. Decreasing AO is the additional high probability filter of a downtrend.
Let's briefly look what is MFI. The Market Facilitation Index (MFI) is a technical indicator that measures the price movement per unit of volume, helping traders gauge the efficiency of price movement in relation to trading volume. Here's how you can calculate it:
MFI = (High−Low)/Volume
MFI can be used in combination with volume, so we can divide 4 states. Bill Williams introduced these to help traders interpret the interaction between volume and price movement. Here’s a quick summary:
Green Window (Increased MFI & Increased Volume): Indicates strong momentum with both price and volume increasing. Often a sign of trend continuation, as both buying and selling interest are rising.
Fake Window (Increased MFI & Decreased Volume): Shows that price is moving but with lower volume, suggesting weak support for the trend. This can signal a potential end of the current trend.
Squat Window (Decreased MFI & Increased Volume): Shows high volume but little price movement, indicating a tug-of-war between buyers and sellers. This often precedes a breakout as the pressure builds.
Fade Window (Decreased MFI & Decreased Volume): Indicates a lack of interest from both buyers and sellers, leading to lower momentum. This typically happens in range-bound markets and may signal consolidation before a new move.
For our purposes we are interested in squat bars. This is the sign that volume cannot move the price easily. This type of bar increases the probability of trend reversal. In this indicator we added to enable the MFI filter of reversal bars. If potential reversal bar or two preceding bars have squat state this bar can be interpret as a reversal one.
Backtest Results
Operating window: Date range of backtests is 2023.01.01 - 2024.12.31. It is chosen to let the strategy to close all opened positions.
Commission and Slippage: Includes a standard Binance commission of 0.1% and accounts for possible slippage over 5 ticks.
Initial capital: 10000 USDT
Percent of capital used in every trade: 50%
Maximum Single Position Loss: -5.29%
Maximum Single Profit: +29.99%
Net Profit: +5472.66 USDT (+54.73%)
Total Trades: 103 (33.98% win rate)
Profit Factor: 1.634
Maximum Accumulated Loss: 1231.15 USDT (-8.32%)
Average Profit per Trade: 53.13 USDT (+0.94%)
Average Trade Duration: 76 hours
How to Use
Add the script to favorites for easy access.
Apply to the desired timeframe and chart (optimal performance observed on 4h ETH/USDT).
Configure settings using the dropdown choice list in the built-in menu.
Set up alerts to automate strategy positions through web hook with the text: {{strategy.order.alert_message}}
Disclaimer:
Educational and informational tool reflecting Skyrex commitment to informed trading. Past performance does not guarantee future results. Test strategies in a simulated environment before live implementation
These results are obtained with realistic parameters representing trading conditions observed at major exchanges such as Binance and with realistic trading portfolio usage parameters.
Wick ProportionsThis simple indicator highlights candles with short and long wicks matching a specified percentage of the candle's price range.
The candle is highlighted if the short wick is less than or equal to a specified percentage of the candle price range and the long wick is more than or equal to a specified percentage of the candle price range.
Both percentages can be separately specified as inputs, within reasonable ranges.
The indicator is useful for various strategies attempting to identify price reversal points.
