Chuck Dukas Market Phases of Trends (based on 2 Moving Averages)This script is based on the article “Defining The Bull And The Bear” by Chuck Duckas, published in Stocks & Commodities V. 25:13 (14-22); (S&C Bonus Issue, 2007).
The article “Defining The Bull And The Bear” discusses the concepts of “bullish” and “bearish” in relation to the price behavior of financial instruments. Chuck Dukas explains the importance of analyzing price trends and provides a framework for categorizing price activity into six phases. These phases, including recovery, accumulation, bullish, warning, distribution, and bearish, help to assess the quality of the price structure and guide decision-making in trading. Moving averages are used as tools for determining the context preceding the current price action, and the slope of a moving average is seen as an indicator of trend and price phase analysis.
The six phases of trends
// Definitions of Market Phases
recovery_phase = src > ma050 and src < ma200 and ma050 < ma200 // color: blue
accumulation_phase = src > ma050 and src > ma200 and ma050 < ma200 // color: purple
bullish_phase = src > ma050 and src > ma200 and ma050 > ma200 // color: green
warning_phase = src < ma050 and src > ma200 and ma050 > ma200 // color: yellow
distribution_phase = src < ma050 and src < ma200 and ma050 > ma200 // color: orange
bearish_phase = src < ma050 and src < ma200 and ma050 < ma200 // color red
Recovery Phase : This phase marks the beginning of a new trend after a period of consolidation or downtrend. It is characterized by the gradual increase in prices as the market starts to recover from previous losses.
Accumulation Phase : In this phase, the market continues to build a base as prices stabilize before making a significant move. It is a period of consolidation where buying and selling are balanced.
Bullish Phase : The bullish phase indicates a strong upward trend in prices with higher highs and higher lows. It is a period of optimism and positive sentiment in the market.
Warning Phase : This phase occurs when the bullish trend starts to show signs of weakness or exhaustion. It serves as a cautionary signal to traders and investors that a potential reversal or correction may be imminent.
Distribution Phase : The distribution phase is characterized by the market topping out as selling pressure increases. It is a period where supply exceeds demand, leading to a potential shift in trend direction.
Bearish Phase : The bearish phase signifies a strong downward trend in prices with lower lows and lower highs. It is a period of pessimism and negative sentiment in the market.
These rules of the six phases outline the cyclical nature of market trends and provide traders with a framework for understanding and analyzing price behavior to make informed trading decisions based on the current market phase.
60-period channel
The 60-period channel should be applied differently in each phase of the market cycle.
Recovery Phase : In this phase, the 60-period channel can help identify the beginning of a potential uptrend as price stabilizes or improves. Traders can look for new highs frequently in the 60-period channel to confirm the trend initiation or continuation.
Accumulation Phase : During the accumulation phase, the 60-period channel can highlight that the current price is sufficiently strong to be above recent price and longer-term price. Traders may observe new highs frequently in the 60-period channel as the slope of the 50-period moving average (SMA) trends upwards while the 200-period moving average (SMA) slope is losing its downward slope.
Bullish Phase : In the bullish phase, the 60-period channel showing a series of higher highs is crucial for confirming the uptrend. Additionally, traders should observe an upward-sloping 50-period SMA above an upward-sloping 200-period SMA for further validation of the bullish phase.
Warning Phase : When in the warning phase, the 60-period channel can provide insights into whether the current price is weaker than recent prices. Traders should pay attention to the relationship between the price close, the 50-period SMA, and the 200-period SMA to gauge the strength of the phase.
Distribution Phase : In the distribution phase, traders should look for new lows frequently in the 60-period channel, hinting at a weakening trend. It is crucial to observe that the 50-period SMA is still above the 200-period SMA in this phase.
Bearish Phase : Lastly, in the bearish phase, the 60-period channel reflecting a series of lower lows confirms the downtrend. Traders should also note that the price close is below both the 50-period SMA and the 200-period SMA, with the relationship of the 50-period SMA being less than the 200-period SMA.
By carefully analyzing the 60-period channel in each phase, traders can better understand market trends and make informed decisions regarding their investments.
Графические паттерны
Market Slayer (i)Market Slayer (i)
This script is designed to provide insights into market trends and generate trading signals based on a combination of moving average crossovers and trend confirmation. It aims to assist traders in identifying potential entry and exit points in the market.
Input Parameters:
Trend Timeframe: Allows the user to specify the timeframe for trend analysis. Default is set to W (weekly).
Trend Value: Defines the sensitivity of the trend detection algorithm.
Short SMA Length: Length of the short-term Simple Moving Average (SMA).
Long SMA Length: Length of the long-term Simple Moving Average (SMA).
Bullish Color: Color representation for bullish signals.
Bearish Color: Color representation for bearish signals.
Take Profit Color: Color representation for take profit events.
Simple Moving Average (SMA) Logic:
Two SMAs are calculated based on the provided lengths: one short-term and one long-term.
Short-term SMA values are plotted with a semi-transparent bearish color.
Long-term SMA values are plotted with a semi-transparent bullish color.
Trend Logic:
The script employs a modified SSL (Schaff Trend Cycle) indicator to determine the trend direction.
Trend direction is determined based on whether the closing price is above or below the SSL (Schaff Trend Cycle) indicator.
Trend changes are detected by comparing the current trend direction with the previous two trend directions.
Signal Logic:
Buy signals are generated when the short-term SMA crosses above the long-term SMA and the trend is bullish.
Sell signals are generated when the short-term SMA crosses below the long-term SMA and the trend is bearish.
Signals are confirmed only if there is no open position.
Take Profit Logic:
Take profit events are triggered when the trend changes direction after a position has been opened.
Take profit events are confirmed only if there is an open position.
Alerts:
Various alerts are included to notify traders of different events such as signal generation, take profit opportunities, and trend changes.
Usage of lookahead:
Within the script, the lookahead argument is utilized in the request.security() function to control how much historical data should be loaded for trend analysis.
Setting lookahead=barmerge.lookahead_on enables the script to consider future price movements when calculating trend conditions.
This functionality can enhance the accuracy of trend detection by incorporating future bars into the analysis.
Usage:
Traders can use this script on the TradingView platform to visualize market trends, identify potential entry and exit points, and receive timely alerts for trading opportunities.
Master Pattern [UAlgo]🔶 Description:
"Master Pattern by UAlgo" aims to identify and visualize "Master Patterns" in price movements on financial charts, and focusing on detecting liquidity levels and sweeps. The indicator provides users with the ability to customize settings such as master pattern detection and detection flexibility, sensitivity to liquidity levels, and visualization preferences.
🔶 What is the Master Pattern ?
The Master Pattern is a framework built around understanding market cycles, which include three main phases: Contraction, Expansion, and Trend.
Contraction Phase: During this phase, the market fluctuates less and consolidates within a narrow range. Institutional trading volumes tend to be low and it is recommended to avoid trading entries during this period.
Expansion Phase: volatility increases and prices fluctuate greatly. Institutional traders begin to establish positions at this stage and may manipulate prices to attract retail traders to create liquidity for their own buy or sell targets.
Trend Phase: The final phase that completes the market cycle. Institutional traders started taking profits, causing the trend to reverse. This triggered panic among retail traders, leading to liquidations and stop-losses. This creates liquidity from which institutional traders can profit, while retail traders' positions are overvalued.
🔶 Key Features:
Pattern Detection : The indicator detects and visualizes contraction patterns in price movements, helping traders identify potential areas of price consolidation.
Also traders can choose between different modes (Strict, Normal, Relax) for obtaining master patterns, providing flexibility in pattern identification based on individual trading strategies and preferences.
The Value/Expansion Line : This value line is considered by institutional traders as a potential “Point of Origin” for future price movements.
An Application Example of the Master Pattern :
Select the Appropriate Timeframes: A significant separation between the higher timeframe (HTF) and the lower timeframe (LTF) is essential. For instance, combinations like 4H and 15M, 4H and 5M, or 1H and 1M. You can change this according to your own strategy.
Trade Based on Contraction Box, Value Line and Liquidity: When the HTF is above value, look for buying opportunities on your LTF below value. Conversely, when the HTF is below value, seek selling opportunities on your LTF above value. Sweeping liquidity in LTF is also an important parameter.
Also Value/Expansion Line can also be used as Support/Resistance zone,
Liquidity Levels : The indicator includes functionality to detect and display liquidity levels on the chart.
Dashboard Display : A customizable dashboard provides users with key information, including liquidity levels, master pattern values, and whether the current price is above or below Master Pattern's value lines.
Additionally, when liquidity is swept or the price rises above or falls below the value line. this information can be displayed on the dashboard.
Customizable Settings: Users can adjust parameters such as the pattern detection mode, sensitivity to liquidity levels, liquidity type (cumulative or individual for each swing), visualization preferences for master patterns, the position and font size of the dashboard.
🔶 Disclaimer:
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
HTF Descending TriangleHTF Descending Triangle aims at detecting descending triangles using higher time frame data, without repainting nor misalignment issues.
Descending triangles are defined by a falling upper trend line and an horizontal lower trend line. It is a chart pattern used in technical analysis to predict the continuation of a downtrend.
This indicator can be useful if you, like me, believe that higher time frames can offer a broader perspective and provide clearer signals, smoothing out market noise and showing longer-term trends.
You can change the indicator settings as you see fit to tighten or loosen the detection, and achieve the best results for your use case.
Features
It draws the detected descending triangle on the chart.
It supports alerting when a detection occurs.
It allows for setting the higher time frame to run the detection on.
It allows for setting the minimum number of consecutive valid higher time frame bars to fit the pattern criteria.
It allows for setting a low factor detection criteria to apply on higher time frame bars low as a proportion of the distance between the reference bar low and open/close.
It allows for turning on an adjustment of the triangle using highest/lowest values within valid higher time frame bars.
Settings
Higher Time Frame dropdown: Selects higher time frame to run the detection on. It must be higher than, and a multiple of, the chart's timeframe.
Valid Bars Minimum field: Sets minimum number of consecutive valid higher time frame bars to fit the pattern criteria.
Low Factor checkbox: Turns on/off low factor detection criteria.
Low Factor field: Sets low factor to apply on higher time frame bars low as a proportion of the distance between the reference bar low and open/close.
Adjust Triangle checkbox: Turns on/off triangle adjustment using highest/lowest values within valid higher time frame bars.
Detection Algorithm Notes
The detection algorithm recursively selects a higher time frame bar as reference. Then it looks at the consecutive higher time frame bars (as per the requested number of minimum valid bars) as follows:
High must be lower than previous bar.
Open/close min value must be higher than reference bar low.
When low factor criteria is turned on, low must be lower than reference bar open/close min value minus low factor proportion of the distance between reference bar low and open/close min value.
Quaterly Earnings,Sectors/Industry,Moving AveragesDescription:
The EPS & Revenue indicator is designed to provide detailed financial insights into a company's performance by displaying key financial metrics such as Earnings Per Share (EPS), Total Revenue, Free Float, Operating Income, and Return on Equity (ROE). The indicator also calculates and visualizes the percentage changes in these metrics over different quarters, offering a comprehensive view of the company's financial health.
Features:
Table Display:
A customizable table that can be positioned in various locations on the chart (e.g., top left, top center, bottom right, etc.).
Color-coded cells to indicate positive and negative changes in financial metrics.
Dynamic text size and color for better readability.
Financial Metrics:
EPS (Earnings Per Share): Displays the EPS values for the current and previous quarters.
Total Revenue: Shows revenue values in crores (Cr) for multiple quarters.
Free Float: Represents the number of freely floating shares.
Operating Income (OP): Indicates the operating income for the company.
Return on Equity (ROE): Displays the ROE values for multiple quarters.
Calculations:
EPS Year-over-Year (YoY) Change: Calculates the YoY percentage change in EPS.
Quarter-over-Quarter (QoQ) Change: Computes the percentage change in EPS and sales for different quarters.
Sales in Crores: Displays sales values in crores (Cr) and calculates the QoQ changes.
Operating Profit Margin (OPM): Calculates the operating profit margin as a percentage of sales.
52-Week High/Low: Shows the highest and lowest prices over the past 52 weeks.
Average Daily Range (ADR): Computes the average daily range percentage.
Turnover: Displays the average turnover period and current turnover values.
Relative Volume (Rvol): Indicates the relative trading volume compared to the average.
Color Coding:
Uses different colors to highlight significant changes in metrics (e.g., dark green for strong positive changes, light green for moderate positive changes, red for negative changes).
Adjustable transparency based on the magnitude of the change.
Customization:
User inputs for table position, color settings, and calculation periods for turnover and relative volume.
Text labels for various columns and rows in the table to enhance clarity.
How to Use:
Add the EPS & Revenue indicator to your TradingView chart.
Customize the table position and color settings as per your preference.
Analyze the displayed financial metrics and percentage changes to gain insights into the company's performance.
Use the color-coded cells to quickly identify significant changes and trends in EPS, revenue, operating income, and other key metrics.
Example Output:
The table will display current and past EPS values, percentage changes in EPS and sales, operating profit margins, ROE values, turnover, relative volume, and the percentage up from 52-week low and down from 52-week high.
The data will be color-coded to indicate positive and negative changes, making it easier to interpret the company's financial performance at a glance.
This indicator is ideal for investors and traders who want to keep a close eye on a company's financial health and make informed decisions based on detailed financial data.
EMA Crossover with RSI
ChatGPT
Certainly! Here's a TradingView Pine Script that combines EMA crossover with RSI to generate buy and sell signals. The script will give a buy signal when the 20 EMA crosses above the 50 EMA and the RSI is below a certain threshold (indicating it's not overbought). Similarly, it will give a sell signal when the 20 EMA crosses below the 50 EMA and the RSI is above a certain threshold (indicating it's not oversold).
pinescript
Copy code
//@version=5
indicator("EMA Crossover with RSI", overlay=true)
// Input for EMAs
ema20_length = input.int(20, title="20 EMA Length")
ema50_length = input.int(50, title="50 EMA Length")
// Input for RSI
rsi_length = input.int(14, title="RSI Length")
rsi_overbought = input.int(70, title="RSI Overbought Level")
rsi_oversold = input.int(30, title="RSI Oversold Level")
// Calculating EMAs
ema20 = ta.ema(close, ema20_length)
ema50 = ta.ema(close, ema50_length)
// Calculating RSI
rsi = ta.rsi(close, rsi_length)
// Plotting EMAs
plot(ema20, title="20 EMA", color=color.blue, linewidth=2)
plot(ema50, title="50 EMA", color=color.red, linewidth=2)
// Conditions for buy and sell signals
buy_condition = ta.crossover(ema20, ema50) and rsi < rsi_overbought
sell_condition = ta.crossunder(ema20, ema50) and rsi > rsi_oversold
// Plotting buy and sell signals on the chart
plotshape(series=buy_condition, title="Buy Signal", location=location.belowbar, color=color.green, style=shape.labelup, text="BUY")
plotshape(series=sell_condition, title="Sell Signal", location=location.abovebar, color=color.red, style=shape.labeldown, text="SELL")
// Adding background color to highlight buy and sell zones
bgcolor(buy_condition ? color.new(color.green, 90) : na, title="Buy Background Highlight")
bgcolor(sell_condition ? color.new(color.red, 90) : na, title="Sell Background Highlight")
Explanation:
Input Parameters:
ema20_length and ema50_length to set the lengths for the EMAs.
rsi_length for the length of the RSI calculation.
rsi_overbought and rsi_oversold to set the levels for overbought and oversold conditions respectively.
Calculations:
ema20 and ema50 are calculated using ta.ema.
rsi is calculated using ta.rsi.
Conditions:
buy_condition checks for the crossover of ema20 above ema50 and that the RSI is below the overbought threshold.
sell_condition checks for the crossover of ema20 below ema50 and that the RSI is above the oversold threshold.
Plotting:
The EMAs are plotted on the chart.
Buy and sell signals are plotted using plotshape.
Background colors are added to highlight the buy and sell zones for better visual interpretation.
Wolf DCA CalculatorThe Wolf DCA Calculator is a powerful and flexible indicator tailored for traders employing the Dollar Cost Averaging (DCA) strategy. This tool is invaluable for planning and visualizing multiple entry points for both long and short positions. It also provides a comprehensive analysis of potential profit and loss based on user-defined parameters, including leverage.
Features
Entry Price: Define the initial entry price for your trade.
Total Lot Size: Specify the total number of lots you intend to trade.
Percentage Difference: Set the fixed percentage difference between each DCA point.
Long Position: Toggle to switch between long and short positions.
Stop Loss Price: Set the price level at which you plan to exit the trade to minimize losses.
Take Profit Price: Set the price level at which you plan to exit the trade to secure profits.
Leverage: Apply leverage to your trade, which multiplies the potential profit and loss.
Number of DCA Points: Specify the number of DCA points to strategically plan your entries.
How to Use
1. Add the Indicator to Your Chart:
Search for "Wolf DCA Calculator" in the TradingView public library and add it to your chart.
2. Configure Inputs:
Entry Price: Set your initial trade entry price.
Total Lot Size: Enter the total number of lots you plan to trade.
Percentage Difference: Adjust this to set the interval between each DCA point.
Long Position: Use this toggle to choose between a long or short position.
Stop Loss Price: Input the price level at which you plan to exit the trade to minimize losses.
Take Profit Price: Input the price level at which you plan to exit the trade to secure profits.
Leverage: Set the leverage you are using for the trade.
Number of DCA Points: Specify the number of DCA points to plan your entries.
3. Analyze the Chart:
The indicator plots the DCA points on the chart using a stepline style for clear visualization.
It calculates the average entry point and displays the potential profit and loss based on the specified leverage.
Labels are added for each DCA point, showing the entry price and the lots allocated.
Horizontal lines mark the Stop Loss and Take Profit levels, with corresponding labels showing potential loss and profit.
Benefits
Visual Planning: Easily visualize multiple entry points and understand how they affect your average entry price.
Risk Management: Clearly see your Stop Loss and Take Profit levels and their impact on your trade.
Customizable: Adapt the indicator to your specific strategy with a wide range of customizable parameters.
EngulfScanEngulf Scan
Introduction:
The Engulf Scan indicator helps users identify bullish and bearish engulfing candlestick patterns on their charts. These patterns are often used as signals for trend reversals and are important indicators for traders. Engulf Scan signals are generated when an engulfing pattern is swallowed by another candlestick of the opposite color.The signal of a candle engulfment formation is generated when the 1st candle is engulfed by the 2nd candle and the 2nd candle is engulfed by the 3rd candle.
Features:
Bullish Engulfing Pattern: Indicates the start of an upward trend and typically signals that the market is likely to move higher.
Bearish Engulfing Pattern: Indicates the start of a downward trend and typically signals that the market is likely to move lower.
Color Coding: Users can customize the background colors for bullish and bearish engulfing patterns.
Usage Guide:
Adding the Indicator: Add the "Engulf Scan" indicator to your TradingView chart.
Color Settings: Choose your preferred colors for bullish and bearish engulfing patterns from the indicator settings.
Pattern Detection: View the engulfing patterns on the chart with the specified colors and symbols. These patterns help identify potential trend reversal points.
Parameters and Settings:
Bullish Engulfing Color: Background color for the bullish engulfing pattern.( Green)
Bearish Engulfing Color: Background color for the bearish engulfing pattern. (Red)
Examples:
Bullish Engulfing Example: On the chart below, you can see bullish engulfing patterns highlighted with a green background. (Green)
Bearish Engulfing Example: On the chart below, you can see bearish engulfing patterns highlighted with a red background. (Red)
Frequently Asked Questions (FAQ):
How are engulfing patterns detected?
Engulfing patterns are formed when a candlestick completely engulfs the previous candlestick. For a bullish engulfing pattern, a bullish candlestick follows a bearish one. For a bearish engulfing pattern, a bearish candlestick follows a bullish one.
Which timeframes work best with this indicator?
Engulfing patterns are generally more reliable on daily and higher timeframes, but you can test the indicator on different timeframes to see if it fits your trading strategy.
Can I detect a reversal or trend?
As can be seen in the image, it sometimes appears as a return signal and sometimes as a harbinger of an ongoing trend.But it may be a mistake to use the indicator only for these purposes. However, this indicator may not be sufficient when used alone. It can be combined with different indicators from the Tradingview library.
Updates and Changelog:
v1.0: Initial release. Added detection and color coding for bullish and bearish engulfing patterns.
-Please feel free to write your valuable comments and opinions. I attach importance to your valuable opinions so that I can improve myself.
Moving Average Momentum SignalsBest for trade execution in lower timeframe (1m,5m,15m) with momentum confirmation in higher timeframes (2h,4h,1d)
This indicator relies on three key conditions to determine buy and sell signals: the price's deviation from a short-term moving average, the change in the moving average over time (past 10 candles), and the price's deviation from a historical price (40 candles). The strategy aims to target moments where the asset's price is likely to experience a reversal or momentum shift.
Conditions
Price deviation from short-term Moving Average (MA): Current candle close minus the 10-period MA (price action past 10 candles)
Change in Moving Average over time: Current 10-period MA minus the 10-period MA from 10 candles ago (price action past 20 candles)
Price deviation from historical price: Current close minus the close from 40 candles ago (price action past 40 candles)
Signal Generation Logic
Buy Signal: Triggered when all three conditions are positive. Confirmed if the previous signal was a sell or if there were no previous signals
Sell Signal: Triggered when all three conditions are negative. Confirmed if the previous signal was a buy or if there were no previous signals
Usage and Strategy
After back testing, I observed the higher timeframes were a good indication of momentum/sentiment that you can take note of while trading intraday on the lower time frames (time intervals stated above). Background highlights are also displayed for easier visualization of bullish/bearish skew in terms of the volume of signals generated.
D9 IndicatorD9 Indicator
Category
Technical Indicators
Overview
The D9 Indicator is designed to identify potential trend reversals by counting the number of consecutive closes that are higher or lower than the close four bars earlier. This indicator highlights key moments in the price action where a trend might be exhausting and potentially reversing, providing valuable insights for traders.
Features
Up Signal: Plots a downward triangle or a cross above the bar when the count of consecutive closes higher than the close four bars earlier reaches 7, 8, or 9.
Down Signal: Plots an upward triangle or a checkmark below the bar when the count of consecutive closes lower than the close four bars earlier reaches 7, 8, or 9.
Visual Signals
Red Downward Triangle (7): Indicates the seventh consecutive bar with a higher close.
Red Downward Triangle (8): Indicates the eighth consecutive bar with a higher close.
Red Cross (❌): Indicates the ninth consecutive bar with a higher close, suggesting a potential bearish reversal.
Green Upward Triangle (7): Indicates the seventh consecutive bar with a lower close.
Green Upward Triangle (8): Indicates the eighth consecutive bar with a lower close.
Green Checkmark (✅): Indicates the ninth consecutive bar with a lower close, suggesting a potential bullish reversal.
Usage
The D9 Indicator is useful for traders looking for visual cues to identify potential trend exhaustion and reversals. It can be applied to any market and timeframe, providing flexibility in various trading strategies.
How to Read
When a red cross (❌) appears above a bar, it may signal an overextended uptrend and a potential bearish reversal.
When a green checkmark (✅) appears below a bar, it may signal an overextended downtrend and a potential bullish reversal.
Example
When the price has consecutively closed higher than four bars ago for nine bars, a red cross (❌) will appear above the ninth bar. This suggests that the uptrend might be exhausting, and traders could look for potential short opportunities. Conversely, when the price has consecutively closed lower than four bars ago for nine bars, a green checkmark (✅) will appear below the ninth bar, indicating a potential buying opportunity.
Precision Strike Entry [PSE]This tool, known as Precision Strike Entry (PSE) , automatically generates Fibonacci Retracement Levels on any chart. More specifically, it scans for continuation and reversal trades based on two inputs and provides exact entry, exit ( Stop Loss ), and Take Profit levels.
Precision Strike Entry can be used for both Crypto and Forex markets.
A crucial aspect is adjusting the " Trading Mode " length to identify the correct extreme points or Custom Pivot Period Lookback. Unlike manually drawn Fibonacci levels, which remain static, the tool adjusts its levels dynamically when the chart's time frame changes.
Trading Mode Options:
Custom – To set manually Pivot Period Lookback
Scalper - Recommended for 5-15 min timeframes
Normal - Recommended for 15 min-2h timeframes
Swing - Recommended for 2h-4h timeframes
Unique to this tool is that the user can filter specific conditions before the Fibonacci is drawn on the chart. Additionally, it provides exact entry, stop loss, and Take Profit levels.
The identification of possible Fibonacci Retracement happens using two trigger techniques:
1-2 Setup and Trendline Break identification.
--> Using the 1-2 Setup identification, the indicator attempts to identify the next wave for point 3 using Fibonacci retracement rules.
--> Using the TrendLine breakout filter, the indicator will try to identify a possible pullback entry, utilizing Fibonacci retracement.
The indicator has been designed for bot processes, meaning it will not identify a short trade until you are in a long position and vice versa. Every trade ends with a custom breakeven at TP5 or hitting Stop Loss. When a trade ends/closes, the indicator will automatically search for a new long/short opportunity.
Since every symbol (Pair/Coin) has different conformations and pivots, not all pivot period parameters are perfect for every pair and timeframe. This is why the indicator gives you the opportunity to find the best pivot period for every combination of pair/timeframe, thanks to the Tuning Dashboard .
For example, for APE/USDT.P, by adjusting the 1-2 Setup & TrendLine Pivot Period Lookback settings, you can find a good setting with 1-2 Setup pivots set to 14, and TrendLine Breakout set to 15. The indicator checks the past 1000 bars and historical trades to provide an overview of what happened during the past 1000 bars.
In this case, the total number of trades was 145, and only 35 trades (24% of total trades) hit the Stop Loss without hitting at least TP1. TP1 was hit 110 times (75.75% of trades), TP2 65 times, etc.
This summary table also provides an indication of which pivot period setting is best for a specific pair/time frame combination. It offers statistical insights on how Take Profits were hit, giving you more confidence in how much of your position you will sell for each Take Profit level.
Pivot period settings for 1-2 Setup & Trend Line Breakout identification can be modified in the indicator parameters when the Trading Mode is set to Custom. There is also an extra parameter for filtering Long/Short ( Buy and Sell ) signals based on trend, identified using two EMAs (Moving Averages) with periods of 74 and 144.
Within the settings, you can also set Stop Loss and Breakeven settings as you prefer.
Default settings are:
TP1 Breakeven Level to Entry (possible values: Entry - DCA Entry - StopLoss)
TP2 Breakeven Level to TP1 (possible values: Entry - TP1 - StopLoss)
Breakeven Trigger: Use Close/Open of candles
Stoploss Trigger: Use Close/Open of candles
The indicator settings also include some visual settings to adapt the indicator based on the template you are using for your trading view charts for the best experience.
Alert Settings:
Precision Strike Entry (PSE) is designed to integrate with third-party bot systems
You can set three different alert modes:
TradingView Alert : You will receive classic TradingView alerts with messages indicating the desired alert, like Open Long (BUY), StopLoss Hit, Breakeven, and TakeProfits trigger alerts. (You will receive only the selected alerts from the list.)
Bot Alert : You will receive alerts only for Create Trade or Close Trade with the string of your UUID (you have to fill them in related to your Bot indication) and remember to set the Webhook setting to ensure the alert triggers on your Bot. When you use Bot Alert, you have to set the indicator Signal Type related to your Bot settings. NB: If you have created a TradingView Bot for Long Position, you will have to choose Signal Type = Long in the indicator settings.
Free Text Trade Alert : Using this setting, you will receive alerts only for Open Trade Long or Short. All information about Stop Loss and Take Profits is integrated into the Free Text Template.
Explanation for possible Fibonacci Retracement identification:
1-2 Setup identification:
Trend Line Breakout Pullback Identification:
Japanese Candlestick Pattern RecognizerJapanese candlestick patterns are a powerful tool in technical analysis, offering traders and investors a detailed view of price action and market sentiment.
1. Spinning Top
Description: The Spinning Top has a small candle body with long upper and lower shadows. This indicates that both buyers and sellers were active during the period, but neither took control. The close is near the open.
Significance: Signals indecision in the market. Can appear in both uptrends and downtrends and suggests that the current direction may be losing momentum.
Type: Neutral
2. Doji
Description: A Doji has almost equal opening and closing prices, meaning there was no clear direction during the period. It has long upper and lower shadows.
Significance: Signals indecision or a potential trend reversal. In the context of a strong trend, a Doji can indicate that the trend is losing strength.
Type: Neutral
3. White Marubozu
Description: A long white (or green) candle body with no shadows. Indicates that buyers were in control throughout the entire period.
Significance: Strongly bullish. A White Marubozu often signals the continuation of an uptrend or the start of a new uptrend.
Type: Bullish
4. Black Marubozu
Description: A long black (or red) candle body with no shadows. Indicates that sellers were in control throughout the entire period.
Significance: Strongly bearish. A Black Marubozu often signals the continuation of a downtrend or the start of a new downtrend.
Type: Bearish
5. Hammer
Description: A small candle body at the upper end of the trading range with a long lower shadow. Signals a bullish reversal after a downtrend.
Significance: Bullish reversal. The long lower shadow shows that sellers were strong during the day, but buyers managed to push the price back up.
Type: Bullish
6. Hanging Man
Description: A small candle body at the upper end of the trading range with a long lower shadow. Signals a bearish reversal after an uptrend.
Significance: Bearish reversal. The long lower shadow shows that sellers were strong during the day, suggesting that buyers may be losing strength.
Type: Bearish
7. Inverted Hammer
Description: A small candle body at the lower end of the trading range with a long upper shadow. Signals a bullish reversal after a downtrend.
Significance: Bullish reversal. The long upper shadow shows that buyers attempted to push the price up, indicating a potential trend reversal.
Type: Bullish
8. Shooting Star
Description: A small candle body at the lower end of the trading range with a long upper shadow. Signals a bearish reversal after an uptrend.
Significance: Bearish reversal. The long upper shadow shows that buyers tried to push the price higher, but sellers managed to drive it back down.
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Japanische Candlestick-Muster sind ein leistungsstarkes Werkzeug in der technischen Analyse, das Händlern und Investoren eine detaillierte Sicht auf die Kursentwicklung und Marktstimmung bietet.
1. Spinning Top
Beschreibung: Der Spinning Top hat einen kleinen Kerzenkörper und lange obere und untere Schatten. Dies zeigt, dass sowohl Käufer als auch Verkäufer während der Periode aktiv waren, aber keiner die Kontrolle übernommen hat. Der Schlusskurs liegt nahe dem Eröffnungskurs.
Bedeutung: Signalisiert Unentschlossenheit im Markt. Kann sowohl im Aufwärtstrend als auch im Abwärtstrend erscheinen und zeigt an, dass die aktuelle Richtung möglicherweise an Schwung verliert.
Typ: Neutral
2. Doji
Beschreibung: Ein Doji hat nahezu gleiche Eröffnungs- und Schlusskurse, was bedeutet, dass es während der Periode keine klare Richtung gab. Es hat lange obere und untere Schatten.
Bedeutung: Signalisiert Unentschlossenheit oder mögliche Trendumkehr. Im Kontext eines starken Trends kann ein Doji darauf hinweisen, dass der Trend an Kraft verliert.
Typ: Neutral
3. White Marubozu
Beschreibung: Langer weißer (oder grüner) Kerzenkörper ohne Schatten. Zeigt an, dass Käufer den ganzen Tag über die Kontrolle hatten.
Bedeutung: Stark bullisch. Ein White Marubozu signalisiert oft die Fortsetzung eines Aufwärtstrends oder den Beginn eines neuen Aufwärtstrends.
Typ: Bullish
4. Black Marubozu
Beschreibung: Langer schwarzer (oder roter) Kerzenkörper ohne Schatten. Zeigt an, dass Verkäufer den ganzen Tag über die Kontrolle hatten.
Bedeutung: Stark bärisch. Ein Black Marubozu signalisiert oft die Fortsetzung eines Abwärtstrends oder den Beginn eines neuen Abwärtstrends.
Typ: Bearish
5. Hammer
Beschreibung: Kleiner Kerzenkörper am oberen Ende der Handelsspanne, langer unterer Schatten. Signalisiert eine bullische Umkehr nach einem Abwärtstrend.
Bedeutung: Bullische Umkehr. Der lange untere Schatten zeigt an, dass die Verkäufer während des Tages stark waren, aber die Käufer konnten den Preis zurück nach oben treiben.
Typ: Bullish
6. Hanging Man
Beschreibung: Kleiner Kerzenkörper am oberen Ende der Handelsspanne, langer unterer Schatten. Signalisiert eine bärische Umkehr nach einem Aufwärtstrend.
Bedeutung: Bärische Umkehr. Der lange untere Schatten zeigt an, dass die Verkäufer während des Tages stark waren, was darauf hindeutet, dass die Käufer an Kraft verlieren könnten.
Typ: Bearish
7. Inverted Hammer
Beschreibung: Kleiner Kerzenkörper am unteren Ende der Handelsspanne, langer oberer Schatten. Signalisiert eine bullische Umkehr nach einem Abwärtstrend.
Bedeutung: Bullische Umkehr. Der lange obere Schatten zeigt, dass die Käufer versucht haben, den Preis nach oben zu treiben, und dies könnte auf eine bevorstehende Trendumkehr hinweisen.
Typ: Bullish
8. Shooting Star
Beschreibung: Kleiner Kerzenkörper am unteren Ende der Handelsspanne, langer oberer Schatten. Signalisiert eine bärische Umkehr nach einem Aufwärtstrend.
Bedeutung: Bärische Umkehr. Der lange obere Schatten zeigt, dass die Käufer versucht haben, den Preis weiter nach oben zu treiben, aber die Verkäufer konnten den Preis wieder nach unten drücken.
Typ: Bearish
IV Rank Oscillator by dinvestorqShort Title: IVR OscSlg
Description:
The IV Rank Oscillator is a custom indicator designed to measure and visualize the Implied Volatility (IV) Rank using Historical Volatility (HV) as a proxy. This indicator helps traders determine whether the current volatility level is relatively high or low compared to its historical levels over a specified period.
Key Features :
Historical Volatility (HV) Calculation: Computes the historical volatility based on the standard deviation of logarithmic returns over a user-defined period.
IV Rank Calculation: Normalizes the current HV within the range of the highest and lowest HV values over the past 252 periods (approximately one year) to generate the IV Rank.
IV Rank Visualization: Plots the IV Rank, along with reference lines at 50 (midline), 80 (overbought), and 20 (oversold), making it easy to interpret the relative volatility levels.
Historical Volatility Plot: Optionally plots the Historical Volatility for additional reference.
Usage:
IV Rank : Use the IV Rank to assess the relative level of volatility. High IV Rank values (close to 100) indicate that the current volatility is high relative to its historical range, while low IV Rank values (close to 0) indicate low relative volatility.
Reference Lines: The overbought (80) and oversold (20) lines help identify extreme volatility conditions, aiding in trading decisions.
Example Use Case:
A trader can use the IV Rank Oscillator to identify potential entry and exit points based on the volatility conditions. For instance, a high IV Rank may suggest a period of high market uncertainty, which could be a signal for options traders to consider strategies like selling premium. Conversely, a low IV Rank might indicate a more stable market condition.
Parameters:
HV Calculation Length: Adjustable period length for the historical volatility calculation (default: 20 periods).
This indicator is a powerful tool for options traders, volatility analysts, and any market participant looking to gauge market conditions based on historical volatility patterns.
SMA DMA Crossing SignalSMA and DMA Crossing Buy Sell Signals
This script implements a Double Moving Average (DMA) strategy, a popular technical analysis technique used by traders to identify trends and potential buy/sell signals in financial markets.
**Description:**
The Double Moving Average strategy involves the calculation of two moving averages – a short-term moving average and a long-term moving average. In this script, we calculate these moving averages as follows:
1. **Short-term DMA (`dmaShort`):**
- Calculated using a 28-bar Simple Moving Average (SMA).
- Represents the shorter-term trend in the price movement.
2. **Long-term DMA (`dmaLong`):**
- Also calculated using a 28-bar SMA.
- Displaced backward by 14 bars (`dmaLong := request.security(syminfo.tickerid, "D", dmaLong )`), effectively creating a 28-bar SMA with a -14 bar displacement.
- Represents the longer-term trend in the price movement.
**Signals:**
Buy and sell signals are generated based on the crossing of the short-term DMA over or under the long-term DMA:
- **Buy Signal (`DMA BUY`):** Occurs when the short-term DMA crosses above the long-term DMA (`dmaBuySignal`).
- **Sell Signal (`DMA SELL`):** Occurs when the short-term DMA crosses below the long-term DMA (`dmaSellSignal`).
**How to Use:**
- **Buy Signal:** Consider entering a long position when the short-term DMA crosses above the long-term DMA, indicating a potential uptrend.
- **Sell Signal:** Consider exiting a long position or entering a short position when the short-term DMA crosses below the long-term DMA, indicating a potential downtrend.
This script provides a visual representation of the DMA crossover signals on the chart, helping traders identify potential entry and exit points in the market.
**Note:** It's important to combine DMA signals with other technical analysis tools and risk management strategies for informed trading decisions.
All comments are welcome..
Indecisive and Explosive CandlesThe Explosive & Base Candle with Gaps Identifier is an indicator designed to enhance your market analysis by identifying critical candle types and gaps in price action. This tool aids traders in pinpointing zones of significant buyer-seller interaction and potential institutional activity, providing valuable insights for strategic trading decisions.
Main Features:
Base Candle Identification: This feature detects Base candles, also known as indecisive candles, within the price action. A Base candle is characterized by a body (the difference between the close and open prices) that is less than or equal to 50% of its total range (the difference between the high and low prices). These candles mark zones where buyers and sellers are evenly matched, highlighting areas of potential support and resistance.
Explosive Candle Identification: The indicator identifies Explosive candles, which are indicative of strong market moves often driven by institutional activity. An Explosive candle is defined by a body that is greater than 70% of its total range. Recognizing these candles helps traders spot significant momentum and potential breakout points.
Supply and Demand Zone Identification: Both Base and Explosive candles are essential for identifying supply and demand zones within the price action. These zones are crucial for traders to place their trades based on the likelihood of price reversals or continuations.
Gap Detection: The indicator also detects gaps, defined as the difference between the close price of one candle and the open price of the next. Gaps are significant because prices often return to these levels to "fill the gap," providing opportunities for traders to predict price movements and place strategic trades.
Visual Markings and Alerts: The indicator visually marks Base and Explosive candles as well as gaps directly on the chart, making them easily identifiable at a glance. Traders can also set customizable alerts to notify them when these key candle types and gaps appear, ensuring they never miss an important trading opportunity.
Customizable Settings: Tailor the indicator’s settings to match your trading style and preferences. Adjust the criteria for Base and Explosive candles, as well as how gaps are detected and displayed, to suit your specific analysis needs.
How to Use:
Add the Indicator: Apply the Explosive & Base Candle with Gaps Identifier to your TradingView chart.
Analyze Identified Zones: Observe the marked Base and Explosive candles and gaps to identify key areas of support, resistance, and potential price reversals or continuations.
Set Alerts: Customize and set alerts for the detection of Base candles, Explosive candles, and gaps to stay informed of critical market movements in real-time.
Integrate with Your Strategy: Use the insights provided by the indicator to enhance your existing trading strategy, improving your entry and exit points based on the identified supply and demand zones.
The Explosive & Base Candle with Gaps Identifier is an invaluable tool for traders aiming to refine their market analysis and make more informed trading decisions. By identifying critical areas of price action, this indicator supports traders in navigating the complexities of the financial markets with greater precision and confidence.
Reversal Zones with SignalsThe "Reversal Zones with Signals" indicator is an advanced technical analysis tool designed to help traders identify potential market reversal points. By integrating Relative Strength Index (RSI), moving averages, and swing high/low detection, this indicator provides traders with clear visual cues for potential buy and sell opportunities.
Key Features and Benefits
Integration of Multiple Technical Analysis Tools:
The indicator seamlessly combines RSI, moving averages, and swing high/low detection. This multi-faceted approach enhances the reliability of the signals by confirming potential reversals through different technical analysis perspectives.
Customizable Parameters:
Users can adjust the sensitivity of the moving averages, the RSI overbought and oversold levels, and the length of the reversal zones. This flexibility allows traders to tailor the indicator to fit their specific trading strategies and market conditions.
Clear Visual Signals:
Buy and sell signals are plotted directly on the chart as easily recognizable green and red labels. This visual clarity simplifies the process of identifying potential entry and exit points, enabling traders to act quickly and decisively.
Reversal Zones:
The indicator plots reversal zones based on swing highs and lows in conjunction with RSI conditions. Green lines represent potential support levels (zone bottoms), while red lines represent potential resistance levels (zone tops). These zones provide traders with clear areas where price reversals are likely to occur.
Automated Alerts:
Custom alerts can be set for both buy and sell signals, providing real-time notifications when potential trading opportunities arise. This feature ensures that traders do not miss critical market moves.
How It Works
RSI Calculation:
The Relative Strength Index (RSI) is calculated to determine overbought and oversold conditions. When RSI exceeds the overbought threshold, it indicates that the market may be overbought, and when it falls below the oversold threshold, it indicates that the market may be oversold. This helps in identifying potential reversal points.
Swing High/Low Detection:
Swing highs and lows are detected using a specified lookback period. These points represent significant price levels where reversals are likely to occur. Swing highs are detected using the ta.pivothigh function, and swing lows are detected using the ta.pivotlow function.
Reversal Zones:
Reversal zones are defined by plotting lines at swing high and low levels when RSI conditions are met. These zones serve as visual cues for potential support and resistance areas, providing a structured framework for identifying reversal points.
Buy and Sell Signals:
Buy signals are generated when the price crosses above a defined reversal zone bottom, indicating a potential upward reversal. Sell signals are generated when the price crosses below a defined reversal zone top, indicating a potential downward reversal. These signals are further confirmed by the presence of bullish or bearish engulfing patterns.
Plotting and Alerts:
The indicator plots buy and sell signals directly on the chart with corresponding labels. Additionally, alerts can be set up to notify the user when a signal is generated, ensuring timely action.
Originality and Usefulness
Innovative Integration of Technical Tools:
The "Reversal Zones with Signals" indicator uniquely combines multiple technical analysis tools into a single, cohesive indicator. This integration provides a comprehensive view of market conditions, enhancing the accuracy of the signals and offering a robust tool for traders.
Enhanced Trading Decisions:
By providing clear and actionable signals, the indicator helps traders make better-informed decisions. The visualization of reversal zones and the integration of RSI and moving averages ensure that traders have a solid framework for identifying potential reversals.
Flexibility and Customization:
The customizable parameters allow traders to adapt the indicator to different trading styles and market conditions. This flexibility ensures that the indicator can be used effectively by a wide range of traders, from beginners to advanced professionals.
Clear and User-Friendly Interface:
The indicator's design prioritizes ease of use, with clear visual signals and intuitive settings. This user-friendly approach makes it accessible to traders of all experience levels.
Real-Time Alerts:
The ability to set up custom alerts ensures that traders are notified of potential trading opportunities as they arise, helping them to act quickly and efficiently.
Versatility Across Markets:
The indicator is suitable for use in various financial markets, including stocks, forex, and cryptocurrencies. Its adaptability across different asset classes makes it a valuable addition to any trader's toolkit.
How to Use
Adding the Indicator:
Add the "Reversal Zones with Signals" indicator to your chart.
Adjust the parameters (Sensitivity, RSI OverBought Value, RSI OverSold Value, Zone Length) to match your trading strategy and market conditions.
Interpreting Signals:
Buy Signal: A green "BUY" label appears below a bar, indicating a potential buying opportunity based on the detected reversal zone and price action.
Sell Signal: A red "SELL" label appears above a bar, indicating a potential selling opportunity based on the detected reversal zone and price action.
Setting Alerts:
Set alerts for buy and sell signals to receive notifications when potential trading opportunities arise. This ensures timely action and helps traders stay informed about critical market moves.
Higher Timeframe High & Low [ChartPrime]The Higher Timeframe High & Low Indicator plots key levels (high, low, and average price) from a higher timeframe onto the current chart, aiding traders in identifying significant support and resistance zones.
The indicator also detects and labels breakout points and can display trend directions based on these higher timeframe levels breakout points.
Key Features:
◆ Higher Timeframe Levels:
Plots the high, low, and average price from a selected higher timeframe onto the current chart.
Extends these levels into the future for better visualization.
◆ Breakout Detection:
Identifies and labels breakouts above the higher timeframe high or below the higher timeframe low.
Breakout points are clearly marked with labels indicating "High Break" or "Low Break" with timeframe mark.
If the following break out type is the same that previous, it does not marked by labels, but still marked by bar color.
◆ Trend Visualization:
Optionally displays trend direction by changing bar colors and line styles based on breakout conditions.
Trend indication helps in identifying bullish or bearish market conditions.
◆ Support and Resistance Indication:
Marks support and resistance points with '◆' symbols when the current timeframe's high or low interacts with the higher timeframe's levels.
◆ Period separation:
Background color changes to indicate period separation if enabled.
◆ Inputs:
Extension to the right of High and Low: Sets the number of bars to extend the high and low lines into the future.
Timeframe: Selects the higher timeframe (e.g., Daily) to use for plotting high and low levels.
Period Separator: Toggles the visual separator for periods.
Show Trend?: Toggles the trend visualization, changing bar colors and plot styles based on breakouts.
Show Breakout Labels?: Toggles the Breakout Labels visualization.
Indicator Logic:
Historical vs. Real-Time Bars: Adjusts values based on whether the bar is historical or real-time to ensure accurate plotting.
High and Low Prices: Retrieves the high and low prices from the selected higher timeframe.
Breakout Conditions: Determines if the current price has crossed above the higher timeframe high (high break) or below the higher timeframe low (low break).
Color and Trend Logic: Adjusts colors and checks for breakouts to avoid multiple labels and indicate trend direction.
Usage Notes:
This indicator is ideal for traders looking to integrate multi-timeframe analysis into their strategy.
The higher timeframe levels act as significant support and resistance zones, helping traders identify potential reversal or continuation points.
The breakout labels and trend visualization provide additional context for trading decisions, indicating when the price has breached key levels and is likely to continue in that direction.
This indicator enhances chart analysis by providing clear, visual cues from higher timeframe data, helping traders make more informed decisions based on a broader market perspective.
Forex SessionThis Trading View script highlights the trading sessions for New York, European, and Asian markets on the chart and adds labels at the start of each session. The script uses Pine Script version 5 and converts local session times to UTC to accurately display the session times regardless of your local Time zone.
Features :
Session Times:
New York: 8:30 AM to 3:00 PM (Eastern Time, GMT-4)
European: 8:00 AM to 4:30 PM (London Time, GMT+1)
Asian: 9:00 AM to 6:00 PM (Tokyo Time, GMT+9)
Background Highlighting: The script shades the background for each session.
New York Session: Blue
European Session: Green
Asian Session: Red
Today's sessions are shaded with 90% opacity.
Tomorrow's sessions are shaded with 70% opacity.
How It Works :
Session Times Conversion: The script converts the session times from local timezones to UTC
using the timestamp function.
Background Coloring: The bgcolor function is used to shade the background for each session.
Volume Breaker Blocks [UAlgo]The "Volume Breaker Blocks " indicator is designed to identify breaker blocks in the market based on volume and price action. It is a concept that emerges when an order block fails, leading to a change in market structure. It signifies a pivotal point where the market shifts direction, offering traders opportunities to enter trades based on anticipated trend continuation.
🔶 Key Features
Identifying Breaker Blocks: The indicator identifies breaker blocks by detecting pivot points in price action and corresponding volume spikes.
Breaker Block Sensitivity: Traders can adjust breaker block detection sensitivity, length to be used to find pivot points.
Mitigation Method (Close or Wick): Traders can choose between "Close" and "Wick" as the mitigation method. This choice determines whether the indicator considers closing prices or wicks in identifying breaker blocks. Selecting "Close" implies that breaker blocks will be considered broken when the closing price violates the block, while selecting "Wick" implies that the wick of the candle must violate the block for it to be considered broken.
Show Last X Breaker Blocks: Users can specify how many of the most recent breaker blocks to display on the chart.
Visualization: Volume breaker blocks are visually represented on the chart with customizable colors and text labels, allowing for easy interpretation of market conditions. Each breaker block is accompanied by informational text, including whether it's bullish or bearish and the corresponding volume, aiding traders in understanding the significance of each block.
🔶 Disclaimer
Educational Purpose: The "Volume Breaker Blocks " indicator is provided for educational and informational purposes only. It does not constitute financial advice or a recommendation to engage in trading activities.
Risk of Loss: Trading in financial markets involves inherent risks, including the risk of loss of capital. Users should carefully consider their financial situation, risk tolerance, and investment objectives before engaging in trading activities.
Accuracy Not Guaranteed: While the indicator aims to identify potential reversal points in the market, its accuracy and effectiveness may vary. Users should conduct thorough testing and analysis before relying solely on the indicator for trading decisions.
Past Performance: Past performance is not indicative of future results. Historical data and backtesting results may not accurately reflect actual market conditions or future performance.
RunRox - Advanced SMCIntroducing Our Advanced SMC Indicator: Elevate Your Smart Money Concept Trading
We are excited to present our innovative indicator designed specifically for the Smart Money Concept (SMC) strategy. Our approach goes beyond the traditional SMC strategy, bringing significant enhancements to help you achieve better trading results.
We employ a more sophisticated SMC structure incorporating IDM, precise retracements, extreme and local order blocks. This allows for a deeper understanding of market trends and insights into the manipulations of major market players.
What is IDM?
IDM, or Institutional Distribution Model, is a refined concept within SMC that focuses on understanding how institutional players distribute their positions within the market. By analyzing IDM, traders can better predict market movements and potential points of reversal, giving them a significant edge.
What is a Precise Retracement?
A precise retracement, according to our methodology, involves a proper candlestick pattern. If candles do not exceed the highs and lows of the previous candle, they are considered internal and are not counted in the market structure. A correct retracement occurs when candles break beyond the boundaries of the preceding candle
4 Types of Order Blocks
Our concept now includes four types of order blocks: CHoCH, IDM, Local, and BOS order blocks. Below, we will discuss the differences:
CHoCH OB - These are order blocks located closest to the Change of Character (CHoCH).
IDM OB - These order blocks are positioned next after the Institutional Distribution Model (IDM).
Local OB - These blocks are either within the IDM range or in areas that do not fit any specific criteria. We refer to these as local order blocks.
BOS OB - These blocks are located closest to the Break of Structure (BOS) line.
Understanding the distinctions between these order blocks and the market context is key to effectively utilizing them for successful trading.
By incorporating these advanced features, our SMC indicator provides a powerful tool for traders looking to enhance their trading strategies and achieve more consistent results.
Here are the main principles and differences in our strategy. We will discuss all the features and capabilities of our indicator in more detail below.
🟠 Example of Our Structure
Now we will demonstrate several examples of our structure to give you a better understanding of how our indicator works
As you can see in the screenshot above, we have three main components of our structure
CHoCH (Change of Character): Price breaks a higher low (in an uptrend) or lower low (in a downtrend) directly after sweeping the recent pivot high or low.
BOS (Break of Structure): Price breaks a higher high (in an uptrend) or a lower low (in a downtrend).
IDM (Institutional Distribution Model): This represents liquidity that the market seeks to capture. The market moves to take out liquidity pockets before reversing in the intended direction.
This example demonstrates our entire structure, how it is built, and the core principles embedded within it. We have also highlighted the points used to form our structure. It's important to note that in the structure with IDM, the CHoCH is dynamic and moves closer to the IDM each time we break the BOS. This makes our structure more dynamic and sets us apart from the classic Smart Money strategy.
Additionally, I would like to show an example of how to work with order blocks in the Smart Money concept with IDM.
As you can see, some order blocks are considered traps for traders in this concept and are a constant problem in the classic structure.
The real market structure is much more complex than beginner traders perceive in the Smart Money concept. If a structural low is broken, the price can still continue its upward movement, updating the structural high because the nearest valid retracement update is merely a liquidity grab, which we refer to as IDM.
Therefore, it is common to observe in a downtrend that the price may break a high, leading Smart Money traders to believe that the price has reversed and the structure has changed (CHoCH), while in reality, the price continues its downward movement.
Inducement in trading is related to the collection of liquidity. Essentially, it is the liquidity created to make retail traders commit errors. IDM is often associated with the crowd's money, waiting for positions to be closed, such as stop-losses, limit orders, stop orders, and so on.
Now that I have explained the basics of our concept, let's move on to the functions of our indicator and trading examples.
🟠 Indicator Features:
Start Date of Structure Building: Choose the starting point for building the structure on the chart.
CHoCH | BOS | IDM: Display any components from this structure.
Market SubStructure: External and internal structure.
Main and Internal Zigzag: Zigzag for understanding the structure.
BOS/CHoCH Breaking by (Body | Wick): Choose the principle for building the structure, either by the candle body or by their wicks.
BOS/CHoCH Move if Swept: When liquidity is taken, decide whether to move the structure line higher or consider it a structural break.
Color Candles: Color the structure according to the trend color.
Current OrderBlock: Display 4 types of OrderBlocks from the current timeframe.
Higher TimeFrame OrderBlock (Any timeframe): Display OrderBlocks from any timeframe you prefer.
OrderBlock Sensitivity (Low | Medium | High): Choose the sensitivity level for displaying OrderBlocks.
Fills Method for FVG/OB (Touch | Midline | Complete): Select the fill method that determines when FVG and OrderBlock are considered fulfilled.
OrderBlock Based on (Full Candle | Body): Choose the principle for constructing OrderBlock, either by the full candle or only by the candle body.
CHoCH | IDM | Local | BOS OrderBlock/FVG: Show or hide 4 types of OrderBlocks and FVG. Customize each one by color, what exactly to display on the chart, etc.
OrderBlock Volume: Observe the strength of OrderBlocks by their intensity.
Highlight All FVG/Imbalance: Display emerging FVGs on the chart without OrderBlocks.
Customizable Alerts: Set up any alerts you want
Let me describe some of the indicator's features
You can set the candles to be colored according to the trend. In some situations, this is very convenient. For example, when the structure becomes quite large, it helps to easily see the current trend without having to refer back to the beginning of the structure.
You can select any date and time as the starting point for the analysis. This unique feature allows you to test any of your market hypotheses at any given moment. I believe this will be beneficial for every trader using the Smart Money Concept.
Sometimes larger structures emerge, and in such cases, it will be convenient to trade based on the internal structure. All dotted lines represent the internal structure, which differs from the external one. This feature is particularly helpful when trading in volatile markets.
In the image, you can see all the types of order blocks we identify:
CHoCH OB - Order blocks located closest to the Change of Character (CHoCH).
IDM OB - Order blocks that follow the Institutional Distribution Model (IDM).
Local OB - These blocks are either within the IDM range or in areas that do not fit any specific criteria. We refer to these as local order blocks.
BOS OB - Order blocks located closest to the Break of Structure (BOS) line.
Additionally, you may encounter mixed order blocks on the chart. In situations where IDM and CHoCH are close to each other, you will see IDM + CHoCH blocks.
Outside the main structure, we mark previous blocks with the label Old , such as Old CHoCH OB and other variations.
We also annotate the volume in all order blocks, showing the traded volume within the candle range near the formation of the order block. This can help you assess the strength of the order block on the chart.
It's important to note that an order block does not necessarily have to be at the peak of a price retracement. For a valid order block to form, several criteria must be met simultaneously. One criterion, for example, is the presence of an FVG along with the order block, among other parameters. Therefore, our order blocks may not always be at the highest points on the chart, but prices often react to our order blocks before reaching the previous high. This is a crucial point to understand.
🟠 Usage Examples
As seen in the example, we broke the structure (CHoCH), transitioning into a downtrend. Now, our points of interest are in the upper blocks. As you remember, IDM acts as a trap for traders, so we focus on the order blocks beyond the IDM. In our case, these are the IDM OB and CHoCH OB. These two order blocks will be our points of interest, depending on the reaction to each of them
As you can see, we broke through the IDM OB rapidly without any significant reaction and reached our second point of interest. This becomes our entry point as we got a reaction from this block. In this scenario, our target will be to break the BOS structure and confirm the downtrend.
Let me provide another example of using the indicator for trend trading.
In this case, we observe a CHoCH break and a trend shift to bullish. Following this, we see an upward movement until the formation of our IDM and a liquidity grab from the high. After this, we can look for our point of interest at the lower boundary.
Additionally, our zone of interest can be an order block from a higher timeframe. In this example, it is a 4-hour order block. Remember, we are currently on the 1-hour timeframe and using the indicator to display order blocks from the higher timeframe.
After descending into our zone of interest, we could consider buying in this zone. Our target could either be breaking the BOS as confirmation of the bullish structure or a reaction to the order block from a higher timeframe.
We've provided two examples of using the indicator, but in reality, there are countless variations, and each trader will find a way to incorporate the indicator into their strategy. While our indicator can be a standalone tool for forming a trading strategy, it offers immense flexibility and adaptability to suit individual trading styles.
🟠 Settings
Let's take a closer look at the settings available in our indicator:
Start Date of Structure Building
Apply Date Filter to OrderBlock
CHoCH | BOS | IDM - Turn Off/On + Color Style
Show Market SubStructure
Draw ZigZag + Style
Draw Inner ZigZag + Style
Color Candles + Style
BOS Breaking by (Body or Wick) + Move if Swept
CHoCH Breaking by (Body or Wick) + Move if Swept
Show Current TF Blocks
Show Higher TF Blocks (Any Timeframe)
OB Sensitivity (Low | Medium | High)
Fills Method for OB (Touch | Midline | Complete)
Fills Method for FVG (Touch | Midline | Complete)
OrderBlock Based on (Full Candle | Body)
Block Transparency (%)
CHoCH | BOS | IDM | Local OB - Turn Off/On + Style color
CHoCH | BOS | IDM | Local FVG - Turn Off/On + Style color
Highlight All FVGs + Color
Show OB Volume
Show Young Blocks
Hide Distance Blocks
Delete Filled OBs | FVGs
Delete Filled Blocks Label
Alerts
CHoCH | BOS Break
Price is Near CHoCH | BOS - %
Touch CHoCH Bullish OBs (Bottom | Middle | Top)
Touch CHoCH Bearish OBs (Bottom | Middle | Top)
Touch BOS Bullish OBs (Bottom | Middle | Top)
Touch BOS Bearish OBs (Bottom | Middle | Top)
Touch IDM Bullish OBs (Bottom | Middle | Top)
Touch IDM Bearish OBs (Bottom | Middle | Top)
Custom Alerts for Developers
We hope that these highly flexible settings will allow you to customize the indicator exactly the way you want it on your chart. Additionally, the alerts will help you stay informed of any potential events.
🟠 Disclaimer
Past performance is not indicative of future results. To trade successfully, it is crucial to have a thorough understanding of the market context and the specific situation at hand. Always conduct your own research and analysis before making any trading decisions.
To gain access to the indicator, please review the author's instructions below this post
HTF Ascending TriangleHTF Ascending Triangle aims at detecting ascending triangles using higher time frame data, without repainting nor misalignment issues.
Ascending triangles are defined by an horizontal upper trend line and a rising lower trend line. It is a chart pattern used in technical analysis to predict the continuation of an uptrend.
This indicator can be useful if you, like me, believe that higher time frames can offer a broader perspective and provide clearer signals, smoothing out market noise and showing longer-term trends.
You can change the indicator settings as you see fit to tighten or loosen the detection, and achieve the best results for your use case.
Features
It draws the detected ascending triangle on the chart.
It supports alerting when a detection occurs.
It allows for setting the higher time frame to run the detection on.
It allows for setting the minimum number of consecutive valid higher time frame bars to fit the pattern criteria.
It allows for setting a high factor detection criteria to apply on higher time frame bars high as a proportion of the distance between the reference bar high and open/close.
It allows for turning on an adjustment of the triangle using highest/lowest values within valid higher time frame bars.
Settings
Higher Time Frame dropdown: Selects higher time frame to run the detection on. It must be higher than, and a multiple of, the chart's timeframe.
Valid Bars Minimum field: Sets minimum number of consecutive valid higher time frame bars to fit the pattern criteria.
High Factor checkbox: Turns on/off high factor detection criteria.
High Factor field: Sets high factor to apply on higher time frame bars high as a proportion of the distance between the reference bar high and close/open.
Adjust Triangle checkbox: Turns on/off triangle adjustment using highest/lowest values within valid higher time frame bars.
Detection Algorithm Notes
The detection algorithm recursively selects a higher time frame bar as reference. Then it looks at the consecutive higher time frame bars (as per the requested number of minimum valid bars) as follows:
Low must be higher than previous bar.
Open/close max value must be lower than reference bar high.
When high factor criteria is turned on, high must be higher than reference bar open/close max value plus high factor proportion of the distance between reference bar high and open/close max value.
Expansion Candles by Alex EntrepreneurHey people! Thanks for using Expansion Candles. I designed this tool to help me identify price runs (expansions) based on consecutive bullish or bearish candle closes and then trade continuations on the lower timeframes. Here's what makes it awesome:
How Does It Work?
An “expansion” is confirmed after multiple closes above the previous candle’s high (in the bull case) or below the previous candle’s low (in the bear case) while also having a higher candle low than the previous candle (in the bull case) or having lower candle high that the previous candle (in the bear case). After an expansion is confirmed, then the indicator will be displayed on the next candle.
You can set the number of required candle closes that confirm an “expansion” by increasing or decreasing the "Required Candles For Valid Expansion" setting.
An expansion will continue until an “invalidation” event occurs this will cause the indicator to stop displaying.
This “invalidation” can either be a lower candle low than the previous candle (in the bull case) and a higher candle high than the previous candle (in the bear case), or a close below the previous candle’s low (in the bull case) or a close above the previous candle’s high (in the bear case).
You can choose whether you want to use candle highs and lows as invalidation or candle closes as invalidation by changing the “Invalidation Type” setting to either “Wick” or “Candle Close”.
Key Features
Price Run Detection : Identify when price is expanding through consecutive bullish or bearish candle closes. You can chose whether a wick or opposite candle close finishes the run.
Timeframe Selection : Select your preferred timeframe for expansion candles and then view the indicator on lower timeframes for precise continuation entries.
Custom Display Options : Tailor the way expansions are shown on your chart. Choose your bullish and bearish colours and then display expansions as coloured candles, background colours, boxes, or arrows.
Sensitivity Adjustment : Adjust the indicator's sensitivity by changing the number of "Required Candles For Valid Expansion" to suit your analysis.
Set Alerts : Detect new bullish or bearish expansions in your favourite instruments with customisable alerts.
Best,
Alex Entrepreneur
MFI RSThe script helps in recognizing the money flow resistance and rsi level combinations and is quite useful
