Dynamic S/R Levels: Edge FinderOverview
The Dynamic S/R Levels: Edge Finder indicator is designed to identify dynamic support and resistance levels based on historical price action. It uses a combination of price extremes (highs and lows) over user-defined lookback periods, weighted moving averages (WMAs), and touch-count analysis to provide actionable insights into key market levels.
This tool is ideal for traders who want to:
Identify dynamic support and resistance zones.
Understand the strength of these levels based on price touches.
Make informed decisions using clear, adaptive levels.
How It Works
Dynamic Levels Calculation:
The indicator calculates dynamic support levels using the lowest lows and dynamic resistance levels using the highest highs over user-defined lookback periods (e.g., 20, 40, 60 bars, etc.).
These levels are updated dynamically as new price data becomes available.
Touch Count Analysis:
The indicator counts how many times the price has touched or come close to each support/resistance level within the lookback period.
Levels with more touches are considered stronger and are highlighted accordingly.
Weighted Moving Averages (WMAs):
The indicator uses 50-period and 100-period WMAs to identify the closest support/resistance levels to the current trend.
Levels near these WMAs are given additional weight, as they are more likely to act as significant barriers.
Level Merging:
If two support or resistance levels are too close to each other (based on the minimum distance percentage), the weaker level (with fewer touches) is removed to avoid clutter.
Visualization:
Support levels are displayed as dashed red lines, and resistance levels are displayed as dashed blue lines.
Each level is labeled with its corresponding touch count, allowing traders to quickly assess its strength.
How to Interpret the Indicator
Strong Support/Resistance Levels:
Levels with higher touch counts (e.g., 5, 10, or more) are considered stronger and are more likely to hold in the future.
Use these levels to plan entries, exits, or stop-loss placements.
Proximity to WMAs:
Levels closest to the 50-period or 100-period WMA are more significant, especially in trending markets.
These levels often act as dynamic barriers where price reactions are more likely.
Breakouts and Rejections:
If the price breaks through a strong resistance level, it may indicate a potential bullish trend.
If the price rejects a strong support level, it may indicate a potential bearish trend.
Always confirm breakouts or rejections with additional analysis (e.g., volume, candlestick patterns).
Level Merging:
Merged levels indicate areas of high confluence, where multiple support/resistance zones overlap.
These areas are particularly important for decision-making, as they represent stronger market reactions.
Key Features
Customizable Lookback Periods: Adjust the lookback periods for each dynamic level to suit your trading style.
Touch Count Labels: Quickly identify the strength of each level based on the number of price touches.
Adaptive Levels: The indicator dynamically updates levels based on recent price action.
Clean Visualization: Levels are automatically merged to avoid clutter and provide a clear view of the market structure.
Usage Tips
Trend Identification: Combine the indicator with trend-following tools (e.g., moving averages, trendlines) to confirm the overall market direction.
Risk Management: Use the identified levels to set stop-loss orders or take-profit targets.
Timeframe Flexibility: The indicator works on all timeframes, but it is particularly effective on higher timeframes (e.g., 1H, 4H, Daily) for more reliable levels.
Example Scenarios
Bounce Trade:
If the price approaches a strong support level (high touch count) and shows signs of rejection (e.g., bullish candlestick patterns), consider a long position with a stop-loss below the support level.
Breakout Trade:
If the price breaks above a strong resistance level with high volume, consider a long position with a target at the next resistance level.
Range-Bound Market:
In a sideways market, use the support and resistance levels to identify range boundaries and trade bounces between them.
Disclaimer
Dynamic S/R Levels: Edge Finder is a technical analysis tool designed to identify dynamic support and resistance levels based on historical price action. It is intended for informational and educational purposes only. This indicator does not provide financial, investment, or trading advice. Users are solely responsible for their trading decisions and should conduct their own research and analysis before making any trades. The developer of this tool is not liable for any financial losses or damages resulting from the use of this indicator. Trading in financial markets involves risk, and you should only trade with capital you can afford to lose.
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Dynamic Support and Resistance Pivot Strategy The Dynamic Support and Resistance Pivot Strategy is a flexible and adaptive tool designed to identify short-term support and resistance levels using the concept of price pivots.
### Key Elements of the Strategy
1. Pivot points as support and resistance levels
Pivots are significant turning points on the price chart, often marking local highs and lows where the price has reversed direction. A pivot high occurs when the price forms a local peak, while a pivot low occurs when the price forms a local trough. When a new pivot high is formed, it creates a resistance level. Conversely, when a new pivot low is formed, it creates a support level.
The strategy continuously updates these levels as new pivots are detected, ensuring they remain relevant to the current market conditions. By identifying these price levels, the strategy dynamically adjusts to market conditions, allowing it to adapt to both trending and ranging markets, since it has a long target and can perform reversal operations.
2. Entry Criteria
- Buy (Long): A long position is triggered when the price is near the support level and then crosses it from below to above. This suggests that the price has found support and may start moving upwards.
- Sell (Short): A short position is triggered when the price is near the resistance level and then crosses it from above to below. This indicates that the price may be reversing and moving downward.
3. Support/Resistance distance (%)
- This parameter establishes a percentage range around the identified support and resistance level. For example, if the Support Resistance Distance is 0.4% (default), the closing price must be within a range of 0.4% above support or below the resistance to be considered "close" and trigger a trade.
4. Exit criteria
- Take profit = 27 %
- Stop loss = 10 %
- Reversal if a new entry point is identified in the opposite direction
5. No Repainting
- The Dynamic Support and Resistance Pivot Strategy is not subject to repainting.
6. Position Sizing by Equity and risk management
- This strategy has a default configuration to operate with 35% of the equity. The stop loss is set to 10% from the entry price. This way, the strategy is putting at risk about 10% of 35% of equity, that is, around 3.5% of equity for each trade. The percentage of equity and stop loss can be adjusted by the user according to their risk management.
7. Backtest results
- This strategy was subjected to backtest and operations in replay mode on **1000000MOGUSDT.P**, with the inclusion of transaction fees at 0.12% and slipagge of 5 ticks, and the past results have shown consistent profitability. Past results are no guarantee of future results. The strategy's backtest results may even be due to overfitting with past data.
8. Chart Visualization
- Support and resistance levels are displayed as green (support) and red (resistance) lines.
- Pivot prices are displayed as green (pivot low) and red (pivot high) labels.
In this image above, the Support/Resistance distance (%) parameter was set to 0.8.
9. Default Configuration
Chart Timeframe: 1h
Pivot Lengh: 2
Support/Resistance distance (%): 0.4*
Stop Loss: 10 %
Take Profit: 27 %
* This parameter can alternatively be set to 0.8.
10. Alternative Configuration
Chart Timeframe: 20 min
Pivot Lengh: 4
Support/Resistance distance (%): 0.1
Stop Loss: 10 %
Take Profit: 25 %
BYBIT:1000000MOGUSDT.P
Central Pivot Range (CPR)Central Pivot Range (CPR) Indicator
The Central Pivot Range (CPR) indicator is designed to help traders identify key levels of support and resistance based on pivot points calculated from the previous day's price action. The CPR levels act as critical areas of price convergence and potential reversal, which can help in anticipating future price movements. This version of the CPR indicator includes customizable features to enhance your trading strategy.
Key Features:
Custom Timeframe Support: The indicator allows you to select a custom timeframe for calculating the CPR levels. By default, it uses the daily timeframe ('D'), but you can adjust it to any other timeframe of your choosing. The indicator calculates the CPR and support/resistance levels based on the data from the selected timeframe.
Central Pivot (CP), Below Central Pivot (BC), and Top Central Pivot (TC):
Pivot (CP): The central pivot point is calculated as the average of the high, low, and close prices of the selected timeframe.
Below Central Pivot (BC): This is the midpoint between the high and low prices of the selected timeframe.
Top Central Pivot (TC): This is calculated based on the central pivot and below central pivot, providing a range between support and resistance levels.
Support and Resistance Levels (S1, S2, S3, R1, R2, R3):
Support Levels (S1, S2, S3): These are calculated based on the central pivot, providing potential areas where price may find support and reverse.
Resistance Levels (R1, R2, R3): These are calculated similarly but indicate potential resistance zones where price may face challenges to move higher.
Dynamic Plotting Based on User Input:
The indicator allows you to choose which levels to display on the chart, including the Central Pivot (CP), Support Levels (S1, S2, S3), and Resistance Levels (R1, R2, R3), all of which can be toggled on or off via checkboxes.
CP is displayed in white, BC and TC in blue, Support levels (S1, S2, S3) in green, and Resistance levels (R1, R2, R3) in red.
Daywise Calculations:
The CPR and levels are based on the previous day’s price action, providing historical support and resistance levels that can be useful for intraday analysis.
The request.security function is used to fetch the pivot data from the custom timeframe, ensuring the levels are calculated based on the last completed period (previous day) without repainting.
Customization Options:
CPR Plot: Toggle the visibility of the central pivot range (CPR) lines.
Support Levels (S1, S2, S3): Choose to show or hide the support levels.
Resistance Levels (R1, R2, R3): Choose to show or hide the resistance levels.
Custom Timeframe: Set a custom timeframe for calculating the CPR, allowing for more flexible and tailored analysis.
Auto-Support v 0.3The "Auto-Support v 0.3" indicator is designed to automatically detect and plot multiple levels of support and resistance on a chart. It aims to help traders identify key price levels where the market tends to reverse or consolidate. Here’s a breakdown of its functionality and goals:
Objective:
The primary objective of the Auto-Support v 0.3 indicator is to provide traders with a clear, visual representation of support and resistance levels. These levels are determined based on a predefined sensitivity parameter, which adjusts how tightly or loosely the indicator reacts to recent price movements. The indicator can be applied to any chart to assist in identifying potential entry and exit points for trades, enhancing technical analysis by displaying these important price zones.
Description:
Support and Resistance Calculation:
The indicator calculates multiple levels of support and resistance using the highest and lowest prices over a defined period. The "sensitivity" parameter, which ranges from 1 to 10, determines how sensitive the calculation is to recent price changes. A higher value increases the number of bars used to calculate these levels, making the levels more stable but less responsive to short-term price movements.
Visual Representation:
The support levels are drawn in green with a customizable transparency setting, while resistance levels are displayed in red with similar transparency controls. This visual representation helps traders identify these levels on the chart and see the strength or weakness of the support/resistance zones depending on the transparency setting.
Multiple Levels:
The indicator plots 10 distinct levels of support and resistance (from 1 to 10), which can offer a more granular view of price action. Traders can use these levels to assess potential breakout or breakdown points.
Customization:
Sensitivity: The sensitivity input allows traders to adjust how aggressively the indicator reacts to recent price data. This ensures flexibility, enabling the indicator to be tailored to different trading styles and market conditions.
Transparency: The transparency input adjusts the visual opacity of the support and resistance lines, making it easier to overlay the indicator without obscuring other chart elements.
Key Goals:
Dynamic Support/Resistance Identification: Automatically detect and display relevant support and resistance levels based on price history, removing the need for manual chart analysis.
Customizable Sensitivity: Offer a flexible method to adjust how the indicator identifies key levels, allowing it to fit different market conditions.
Clear Visualization: Provide easy-to-read support and resistance levels with customizable colors and transparencies, enhancing visual clarity and decision-making.
Multiple Levels: Display up to 10 levels of support and resistance, allowing traders to consider both short-term and longer-term price action when making trading decisions.
By using this indicator, traders can more effectively identify key price zones where price may reverse, consolidate, or break out, providing a solid foundation for developing trading strategies.
Dynamic TestingInput Parameters
`lookbackPeriod` : Number of candles to check for determining the highest high (resistance) and lowest low (support) levels.
`atrPeriod` : The period for calculating the Average True Range (ATR), a measure of market volatility.
`atrMultiplierSL` : Multiplier to calculate the stop-loss distance relative to the ATR.
`atrMultiplierTP1` and `atrMultiplierTP2` : Multipliers to calculate two take-profit levels relative to ATR.
`rewardToRisk` : The ratio between reward (profit) and risk (stop loss) for trade management.
---
Core Calculations
ATR (Average True Range)
atr = ta.atr(atrPeriod)
ATR is computed using the specified period to gauge price volatility.
Volume SMA
volumeSMA = ta.sma(volume, atrPeriod)
The script calculates the simple moving average of volume over the same period as ATR. This is used as a threshold for validating high-volume scenarios.
---
Support and Resistance Levels
`support` : Lowest price over the last `lookbackPeriod` candles.
`resistance` : Highest price over the same period.
`supportBuffer` and `resistanceBuffer` : These are "buffered" zones around support and resistance, calculated using half of the ATR to prevent false breakouts.
---
Entry Scenarios
Bullish Entry (`isBullishEntry`)
The close is above the buffered support level.
The low of the current candle touches or breaks below the support level.
The trading volume is greater than the `volumeSMA`.
Bearish Entry (`isBearishEntry`)
The close is below the buffered resistance level.
The high of the current candle touches or exceeds the resistance level.
The trading volume is greater than the `volumeSMA`.
---
Box Visualization
Bullish and Bearish Boxes
Bullish Box (`bullishBox`):
- A green, semi-transparent rectangle around the support level to highlight the bullish entry zone.
- Dynamically updates based on recent price action.
Bearish Box (`bearishBox`):
- A red, semi-transparent rectangle around the resistance level to highlight the bearish entry zone.
- Adjusts similarly as price evolves.
---
Stop Loss and Take Profit Calculations
Bullish Trades
Stop Loss (`bullishSL`): Calculated as support - atrMultiplierSL * ATR .
Take Profit 1 (`bullishTP1`): support + rewardToRisk * atrMultiplierTP1 * ATR .
Take Profit 2 (`bullishTP2`): support + rewardToRisk * atrMultiplierTP2 * ATR .
Bearish Trades
Stop Loss (`bearishSL`): resistance + atrMultiplierSL * ATR .
Take Profit 1 (`bearishTP1`): resistance - rewardToRisk * atrMultiplierTP1 * ATR .
Take Profit 2 (`bearishTP2`): resistance - rewardToRisk * atrMultiplierTP2 * ATR .
---
Visualization for Key Levels
Bullish Scenario
Green lines represent `bullishTP1` and `bullishTP2` for profit targets.
A red line indicates the `bullishSL` .
Labels like "TP1," "TP2," and "SL" dynamically appear at respective levels to make the targets and risk visually clear.
Bearish Scenario
Red lines represent `bearishTP1` and `bearishTP2` .
A green line marks the `bearishSL` .
Similar dynamic labeling for `TP1` , `TP2` , and `SL` at corresponding bearish levels.
---
Dynamic Updates
Both the entry boxes and key level visualizations (lines and labels) adjust dynamically based on real-time price and volume data.
---
Purpose
Identify high-probability bullish and bearish trade setups.
Define clear entry zones (using boxes) and exit levels (TP1, TP2, SL).
Incorporate volatility (via ATR) and volume into decision-making.
---
Technical Summary
Dynamically visualize support/resistance levels.
Set risk-managed trades using ATR-based stop-loss and profit levels.
Automate visual trade zones for enhanced chart clarity.
---
Options Series - Dynamic Support & Resistance
🌟 Key Features & How It Works:
⭐ Dynamic Support and Resistance Management:
The script dynamically calculates and draws support and resistance lines based on pivot highs and pivot lows. Unlike static levels that remain unchanged, these lines are updated in real-time. When a support or resistance level is breached, the corresponding line is automatically deleted, keeping the chart clean and relevant. This feature ensures that the trader is always looking at valid support and resistance levels based on the current price action.
⭐ Use of Arrays for Line Management:
The script utilizes arrays to store and manage support and resistance lines (array.new_line(0)). This is a more advanced feature of Pine Script v5, allowing for efficient handling of multiple lines on the chart. By using arrays, the script can easily track and manipulate multiple lines (adding, removing, updating), ensuring that the chart remains optimized for real-time analysis.
⭐ Customizable Inputs for Flexibility:
The script includes user inputs for the pivot length and the line width, making it adaptable to different trading styles and preferences. The pivot length determines how sensitive the indicator is to price changes, while the line width allows traders to customize the visual representation of support and resistance levels. These inputs add flexibility and make the script accessible to a broad range of traders.
⭐ Efficient Breach Detection Mechanism:
The isBreached function is a key part of the script. It checks whether the current price has breached any of the existing support or resistance levels. If a breach is detected (i.e., the price crosses below a support or above a resistance), the respective line is deleted, ensuring that only active and valid lines remain on the chart. This automatic update feature reduces the need for manual intervention, helping traders stay focused on key price levels.
⭐ Visual Clarity and Chart Cleanliness:
By deleting breached lines, the script ensures that the chart does not become cluttered with outdated or irrelevant lines. This visual clarity is crucial for traders who rely on clean, simple charts for decision-making. Removing unnecessary information helps traders make faster, more confident decisions based on the current market structure.
⭐ Scalability for Multiple Timeframes:
The use of pivot points makes the script adaptable to different timeframes, from intraday scalping to longer-term swing trading. By changing the pivot length, traders can optimize the indicator for different market environments, ensuring that it can be applied across various asset classes and timeframes.
⭐ Practical for Range-bound and Breakout Trading:
This script is particularly effective for traders who focus on range-bound markets or breakout strategies. It allows them to quickly identify areas where price is likely to reverse (support/resistance) or break out (when support/resistance is breached), providing real-time insight into market dynamics.
⭐ Simplification of Price Action Analysis:
By automating the calculation of pivots and management of support/resistance levels, the script simplifies price action analysis. Traders no longer need to manually draw or monitor these levels, which is a common task in technical analysis. This provides an edge, as it reduces the time spent on chart preparation and helps focus on executing trades.
⭐ Originality:
The script "Options Series - Pivot Based Support & Resistance" is an original approach to generating support and resistance levels using pivot points. Pivot-based techniques are popular, but the script introduces an automated dynamic way of drawing support and resistance lines, tracking breaches, and deleting lines when they are no longer valid. This aspect adds a refreshing layer of interactivity and functionality that sets it apart from basic pivot point scripts. The use of arrays to store and manage multiple support and resistance lines is also a good application of Pine Script’s newer array functionalities.
⭐ Uniqueness of the Script:
The script stands out due to its dynamic management of support and resistance lines. Unlike traditional scripts that simply plot static pivot points, this one evolves with the market by removing broken levels, ensuring only valid support and resistance lines are visible on the chart. This is particularly useful for traders who focus on clean charting. The use of arrays to store and manage the lines, alongside the efficient deletion of lines when breached, demonstrates a solid understanding of Pine Script v5's advanced features, such as array manipulation.
🚀 Conclusion:
This script stands out for its real-time adaptability, dynamic support/resistance management, and efficient use of Pine Script’s advanced features. It a powerful tool for both novice and advanced traders.
The script is an indicator designed to draw support and resistance levels based on pivot highs and lows, dynamically removing lines when they are breached. If a price crosses a support or resistance level, the respective line is deleted, ensuring the chart reflects the current state of support and resistance accurately.
Support and Resistance HeatmapThe "Support and Resistance Heatmap" indicator is designed to identify key support and resistance levels in the price action by using pivots and ATR (Average True Range) to define the sensitivity of zone detection. The zones are plotted as horizontal lines on the chart, representing areas where the price has shown significant interaction. The indicator features a customizable heatmap to visualize the intensity of these zones, making it a powerful tool for technical analysis.
Features:
Dynamic Support and Resistance Zones:
Identifies potential support and resistance areas based on price pivots.
Zones are defined by ATR-based thresholds, making them adaptive to market volatility.
Customization Options:
Heatmap Visualization: Toggle the heatmap on/off to view the strength of each zone.
Sensitivity Control: Modify the zone sensitivity with the ATR Multiplier to increase or decrease zone detection precision.
Confirmations: Set how many touches a level needs before it is confirmed as a zone.
Extended Zone Visualization:
Option to extend the zones for better long-term visibility.
Ability to limit the number of zones displayed to avoid clutter on the chart.
Color-Coded Zones:
Color-coded zones help differentiate between bullish (support) and bearish (resistance) levels, providing visual clarity for traders.
Heatmap Integration:
Gradient-based color changes on levels show the intensity of touches, helping traders understand which zones are more reliable.
Inputs and Settings:
1. Settings Group:
Length:
Determines the number of bars used for the pivot lookback. This directly affects how frequently new zones are formed.
Sensitivity:
Controls the sensitivity of the zone calculation using ATR (Average True Range). A higher value will result in fewer, larger zones, while a lower value increases the number of detected zones.
Confirmations:
Sets the number of price touches needed before a level is confirmed as a support/resistance zone. Lower values will result in more zones.
2. Visual Group:
Extend Zones:
Option to extend the support and resistance lines across the chart for better visibility over time.
Max Zones to Display (maxZonesToShow):
Limits the maximum number of zones shown on the chart to avoid clutter.
3. Heatmap Group:
Show Heatmap:
Toggle the heatmap display on/off. When enabled, the script visualizes the strength of the zones using color intensity.
Core Logic:
Pivot Calculation:
The script identifies support and resistance zones by using the pivotHigh and pivotLow functions. These pivots are calculated using a lookback period, which defines the number of candles to the left and right of the pivot point.
ATR-Based Threshold:
ATR (Average True Range) is used to create dynamic zones based on volatility. The ATR acts as a buffer around the identified pivot points, creating zones that are more flexible and adaptable to market conditions.
Merging Zones:
If two zones are close to each other (within a certain threshold), they are merged into a single zone. This reduces overlapping zones and gives a cleaner visual representation of significant price levels.
Confirmation Mechanism:
Each time the price touches a zone, the confirmation counter for that zone increases. The more confirmations a zone has, the more reliable it is. Zones are only displayed if they meet the required number of confirmations as specified by the user.
Color Gradient:
Zones are color-coded based on the number of confirmations. A gradient is used to visually represent the strength of each zone, with stronger zones being more vividly colored.
Heatmap Visualization:
When the heatmap is enabled, the color intensity of the zones is adjusted based on the proximity of the price to the zone and the number of touches the zone has received. This helps traders quickly identify which zones are more critical.
How to Use:
Identifying Support and Resistance Zones:
After adding the indicator to your chart, you will see horizontal lines representing key support (bullish) and resistance (bearish) levels. These zones are dynamically updated based on price action and pivots.
Adjusting Zone Sensitivity:
Use the "ATR Multiplier" to fine-tune how sensitive the indicator is to price fluctuations. A higher multiplier will reduce the number of zones, focusing on more significant levels.
Using Confirmations:
The more times a price interacts with a zone, the stronger that zone becomes. Use the "Confirmations" input to filter out weaker zones. This ensures that only zones with enough interaction (touches) are plotted.
Activating the Heatmap:
Enabling the heatmap will provide a color-coded visual representation of the strength of the zones. Zones with more price interactions will appear more vividly, helping you focus on the most significant areas.
Best Practices:
Combine with Other Indicators:
This support and resistance indicator works well when combined with other technical analysis tools, such as oscillators (e.g., RSI, MACD) or moving averages, for better trade confirmations.
Adjust Sensitivity Based on Market Conditions:
In volatile markets, you may want to increase the ATR multiplier to focus on more significant support and resistance zones. In calmer markets, decreasing the multiplier can help you spot smaller, but relevant, levels.
Use in Different Time Frames:
This indicator can be used effectively across different time frames, from intraday charts (e.g., 1-minute or 5-minute charts) to longer-term analysis on daily or weekly charts.
Look for Confluences:
Zones that overlap with other indicators, such as Fibonacci retracements or key moving averages, tend to be more reliable. Use the zones in conjunction with other forms of analysis to increase your confidence in trade setups.
Limitations and Considerations:
False Breakouts:
In highly volatile markets, there may be false breakouts where the price briefly moves through a zone without a sustained trend. Consider combining this indicator with momentum-based tools to avoid false signals.
Sensitivity to ATR Settings:
The ATR multiplier is a key component of this indicator. Adjusting it too high or too low may result in too few or too many zones, respectively. It is important to fine-tune this setting based on your specific trading style and market conditions.
Tomorrow Floor Pivots with CPR By Nifty ZThe colors for resistance and support levels have been updated to gradient reds and greens for clearer distinction.
The CPR band uses light blue and purple to stand out more effectively.
Here's a detailed explanation of the user inputs and the typical use of **Floor Pivots for Tomorrow’s Market Range** in a trading context, focusing on support, resistance, and breakout scenarios:
The script allows traders to customize key parameters for their analysis:
1. Pivot Timeframe:
- Users can select different timeframes for calculating floor pivots, such as 1 hour, 4 hours, daily, weekly, monthly, etc.
- This is crucial because the timeframe selection influences the granularity of the support and resistance levels for the next trading day.
- For instance, selecting a **Daily** timeframe will calculate floor pivots for the next trading day, while selecting **Weekly** will give levels for the upcoming week.
2. Show Floor Pivots:
- Users can toggle the visibility of the calculated **Floor Pivots**, which include resistance levels (R1, R2, R3, R4) and support levels (S1, S2, S3, S4).
3. Show CPR (Central Pivot Range):
- CPR (Central Pivot Range) is a key area where the price tends to consolidate.
- The script allows users to enable or disable the visibility of CPR, which consists of the BC (Bottom Central Pivot) and TC (Top Central Pivot).
4. Show Labels:
- Users can choose whether or not to display labels indicating the **Pivot**, **Support**, and Resistance levels on the chart. This can be helpful for visual analysis when day trading.
Understanding Floor Pivots
The Floor Pivots (Pivot, Resistance, and Support levels) for tomorrow's market range are calculated based on today’s high, low, and close. These levels help traders anticipate how the market may behave in the upcoming session.
1. Pivot:
- The Pivot Point is a central level, calculated as the average of the high, low, and close. It’s considered a reference point that determines the market’s overall bias.
- If the price is trading **above the pivot**, it generally suggests a **bullish** sentiment for the day.
- If the price is trading **below the pivot**, it suggests a **bearish** sentiment.
2. Resistance Levels (R1, R2, R3, R4):
- R1 is often the first area where price may stall in an uptrend. It represents the first major resistance level.
- **R2**, **R3**, and **R4** mark additional levels of resistance, progressively further away from the current price. These are used to project potential upward targets.
- These resistance levels are areas where the price might encounter selling pressure, especially during day trading.
3. **Support Levels (S1, S2, S3, S4):**
- Similarly, **S1** is the first area where the price might find support in a downtrend.
- **S2**, **S3**, and **S4** provide deeper support levels where the price may bounce from.
- These support zones are used by day traders to anticipate where the price might reverse upward.
### **Role of Resistance and Support in Day Trading**
- **Resistance Levels (R1, R2, R3, R4)** indicate potential areas where price could **stall** during an uptrend. These levels are useful for **short-term traders** looking to set exit points or identify reversal zones.
- **Support Levels (S1, S2, S3, S4)** highlight areas where the price could **find support** and potentially **bounce** higher. These levels are particularly helpful for identifying buy zones in a downtrend.
- If a price **breaks out** above the resistance levels or **breaks down** below the support levels, it often signals a strong trend continuation.
### **Understanding the Central Pivot Range (CPR)**
The **CPR** is formed by two key levels:
- **BC (Bottom Central Pivot):** The midpoint of the day’s high and low.
- **TC (Top Central Pivot):** The difference between the pivot and BC.
The CPR acts as a region of **consolidation** or **indecision** where the market is likely to stay within a narrow range. The width of the CPR gives traders a sense of volatility:
- A **narrow CPR** often signals that a **breakout** is imminent.
- A **wider CPR** suggests that the market could remain range-bound.
### **Market Sentiment Based on Floor Pivots**
The relationship between **today’s** and **tomorrow’s pivots** is crucial in determining the market sentiment for the next day.
1. **Bullish Case (Higher Highs):**
- If **tomorrow's pivot** is higher than **today's pivot**, it indicates a **bullish sentiment**. This suggests that the market is likely to trend upward in the next session.
- In a **bullish overlapping pivot range**, if **Day 1 (today)** is higher than **Day 2 (tomorrow)**, traders expect continued upward momentum.
2. **Bearish Case (Lower Lows):**
- Conversely, if **tomorrow's pivot** is lower than **today's pivot**, it suggests a **bearish sentiment** and that the market could trend downward in the next session.
- In a **bearish overlapping pivot range**, if **Day 1 (today)** is lower than **Day 2 (tomorrow)**, traders expect continued downward pressure.
### **Breakout Scenarios**
A breakout occurs when the price **violates either the support or resistance levels** significantly, indicating that the price is moving in the direction of the breakout.
1. **Bullish Breakout:**
- If the price consistently stays **above the CPR** and **resistance levels (R1, R2)**, it indicates a strong **bullish breakout**.
- This is especially true when the **CPR is narrow** for both days, signaling a buildup in price action and a potential breakout to the upside.
2. **Bearish Breakout:**
- If the price breaks **below the CPR** and **support levels (S1, S2)**, it indicates a **bearish breakout**.
- A narrow CPR on **both days** suggests that a breakout to the downside could be imminent.
3. **Neutral or Ranging Days:**
- Sometimes, the CPR stays **unchanged** for 4-5 days, indicating a period of **consolidation** where the price is moving within a tight range. This often leads to a significant breakout once the consolidation ends.
Strategic Application of Floor Pivots for Tomorrow
Traders use floor pivots to plan their next-day trades by:
- **Aligning with Market Sentiment:** Based on whether tomorrow’s pivot is higher or lower than today’s, traders can align their trades in the direction of the market’s overall bias.
- **Identifying Entry and Exit Points:** Resistance and support levels provide well-defined areas to enter or exit trades, making pivots essential for day trading strategies.
- **Anticipating Breakouts:** Monitoring the width of the CPR and the relation between pivots helps traders anticipate potential breakouts, allowing them to react quickly to sudden price movements.
By effectively using these pivots and understanding their significance, traders can improve their decision-making for short-term trades in the stock or futures markets.
CARNAC Trading - Dynamic Support and Resistance LevelsThe **CARNAC Trading - Dynamic Support and Resistance Levels** indicator is designed to help traders identify key support and resistance levels on any chart timeframe. This indicator dynamically detects major support and resistance levels based on historical price pivots and displays them as lines on the chart. The levels are color-coded for easy identification—**green lines** represent support levels below the current price, while **red lines** represent resistance levels above the current price.
Key Features:
- Dynamic Support/Resistance Detection**: Automatically identifies the strongest support and resistance levels on the chart.
- Timeframe Selection**: Allows users to choose a specific timeframe for detecting support and resistance levels, independent of the chart's timeframe.
- Pivot Strength and Lookback Period**: Customizable inputs to control how far back the indicator looks and how strong the pivots need to be for support/resistance detection.
- Level Limitation**: Limits the number of support and resistance lines to keep charts clean, ensuring only the most relevant levels are displayed.
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How to Use the Indicator:
Inputs and Settings:
1. **Lookback Period**: Defines how many bars back the indicator will consider for detecting support and resistance levels. You can adjust this depending on how much historical data you want to include. A larger value will capture more significant levels, while a smaller value focuses on more recent price action.
2. **Pivot Strength**: This setting determines how significant a high or low must be to qualify as a pivot. A higher pivot strength will capture stronger, more critical levels, while a lower value will detect more frequent, minor pivots.
3. **Max Levels Above/Below Price**: This controls the maximum number of support and resistance levels displayed on each side of the current price. Keeping this number low helps reduce clutter and focuses on the most important levels.
4. **Timeframe for Support/Resistance Detection**: Select the timeframe used for detecting support and resistance levels, which can differ from the chart's timeframe. This is helpful when you're trading on shorter timeframes but want to see key levels from a higher timeframe (e.g., detecting daily levels while trading intraday).
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Visualization:
- **Green Lines**: Represent support levels below the current price. These are potential areas where buying interest may increase, and the price could bounce upwards.
- **Red Lines**: Represent resistance levels above the current price. These are potential areas where selling interest may increase, and the price could fall downwards.
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Example Usage:
1. **Identifying Support and Resistance Zones**: Use this indicator to identify critical support and resistance zones. These are areas where the price has historically reversed or paused, making them ideal for setting entry, exit, stop-loss, or take-profit levels.
2. **Trend Analysis**: By observing which side of the current price the majority of lines are on (more red or more green), traders can gauge whether the market is facing more resistance or support, helping them align with the current trend.
3. **Timeframe Flexibility**: You can choose to detect support and resistance levels from higher timeframes (e.g., Daily or Weekly) while trading on lower timeframes (e.g., 15-minute or 1-hour charts). This gives you a macro-level view of key price levels while executing trades on the micro-level.
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Recommendations:
- **Swing Traders**: Use this indicator with a larger lookback period and higher pivot strength to capture major long-term support and resistance levels.
- **Scalpers and Intraday Traders**: Use shorter lookback periods and lower pivot strengths to detect key levels within a shorter timeframe.
By customizing the inputs and tailoring them to your trading style, this indicator can provide valuable insights into price levels where significant buying or selling activity is likely to occur, helping you make more informed trading decisions.
CARNAC Trading Support and Resistance LevelsOverview
The "Carnac Trading Support and Resistance Levels" indicator is a powerful tool designed to help traders identify key support and resistance levels across multiple timeframes. This tool enhances trading strategies by visually marking significant price levels and providing configurable stop-loss and alert features.
Features
Support and Resistance Levels: Automatically calculates and plots support and resistance levels for the following timeframes:
5 minutes (5M)
10 minutes (10M)
15 minutes (15M)
30 minutes (30M)
1 hour (1H)
2 hours (2H)
4 hours (4H)
6 hours (6H)
12 hours (12H)
1 day (1D)
1 week (1W)
1 month (1M)
Configurable Stop-Loss (SL) Levels: Adds a stop-loss line below each support level and above each resistance level with customizable padding (as a percentage).
Visual Labels: Clearly labels support, resistance, and stop-loss levels with the corresponding prices and timeframes for easy identification.
Line Customization:
Support Levels: Green lines with varying thickness based on the timeframe.
Resistance Levels: Red lines with varying thickness based on the timeframe.
Stop-Loss Levels: Gray dotted lines for clear distinction.
Alerts: Alerts trigger when the price gets to a configurable percentage from the support or resistance levels, helping you stay informed about potential buying and selling opportunities.
Visibility Toggling: Easily toggle the visibility of support and resistance levels for each timeframe (default enabled for 2H, 4H, and 1D).
How to Use
Add the Indicator:
Navigate to the TradingView Pine Editor.
Paste the provided Pine Script code and click "Add to Chart."
Configure Inputs:
Lookback Periods: Adjust the lookback periods for each timeframe to suit your analysis needs.
Padding Percentage: Set the padding percentage for the stop-loss levels to define the distance below the support levels and above the resistance levels.
Visibility: Toggle the visibility of the support and resistance levels for each timeframe as needed (default enabled for 2H, 4H, and 1D).
Alert Trigger Distance: Set the alert trigger distance as a percentage to determine when the alerts should be triggered.
Interpret the Plotted Levels:
Green Lines: Indicate support levels for the respective timeframes.
Red Lines: Indicate resistance levels for the respective timeframes.
Gray Dotted Lines: Represent the stop-loss levels below each support level and above each resistance level, with the specified padding.
Labels: Provide clear indications of the price levels and their respective timeframes in white text for visibility.
Identifying Buying and Selling Opportunities:
Buying Opportunities:
Look for the price to approach or bounce off a support level (green line).
Confirm the potential for a reversal by checking if the price is nearing a key support level from multiple timeframes.
Use the stop-loss level (gray dotted line) to set your stop-loss order below the support level to minimize risk.
Selling Opportunities:
Look for the price to approach or get rejected at a resistance level (red line).
Confirm the potential for a reversal by checking if the price is nearing a key resistance level from multiple timeframes.
Use the stop-loss level (gray dotted line) to set your stop-loss order above the resistance level to minimize risk.
Alerts:
Alerts will notify you when the price gets within the specified percentage distance from each support or resistance level.
Use these alerts to stay informed about potential buying and selling opportunities.
Ichimoku Cloud w/ HelpersIchimoku Cloud w/ Helpers is your standard Ichimoku Cloud indicator with two additions.
Checkout TradingView's write up on the Ichimoku Cloud here .
The two additions added to this indicator are described below:
1 — A box is drawn centered on the current bar and stretching a length equal to the 'Senkou Span B Period'.
• The box encompasses the highest high and lowest low in that period.
2 — Two new lines are added.
• Green Line : Projection from the Lagging Line (Chikou Span) to the Span A line, indicating historical price action relative to future projected support/resistance.
• Red Line : Projection from the Kijun-sen (Base Line) to the Span B line, indicating medium-term trend direction relative to future projected support/resistance.
Use cases :
• The Box is simply a visual cue to draw your eye towards the area that the Ichimoku Cloud is currently attempting to analyze: Past, Present and Future.
• The green and red lines add a way to interpret the sentiment:
• Diverging Lines with Green Above Red --> Interpret as Bullish Sentiment
• Converging Lines with Green Crossing Above Red --> Interpret as Bullish reversal or strengthening
• Converging Lines with Green Crossing Below Red --> Interpret as Bearish reversal or weakening.
• Diverging Lines with Red Above Green --> Interpret as Bearish Sentiment
• Converging Lines with Red Crossing Below Green --> Interpret as Bullish reversal or weakening bearish trend.
Current limitations :
• Under settings -> Styles, the plotted lines don't allow the colors to be changed. A bug I'm trying to figure out.
Bugs?
Kindly report any issues you run into and I'll try to fix them promptly.
Thank you!
Weighted Moving Range with Trend Signals (WMR-TS)Weighted Moving Range with Trend Signals (WMR-TS)
Technical analysis involves analyzing statistical trends from trading activity , such as price movement and volume, to make trading decisions. Technical indicators are mathematical calculations based on the price, volume, or open interest of a security or contract. They are used by traders to analyze price movements and predict future market behavior. The WMR-TS indicator combines weighted moving averages and range calculations to identify key trading levels and generate buy/sell signals. It dynamically adjusts to market conditions, offering traders insights into potential support, resistance, and trend reversal points. Key levels are color-coded for quick interpretation. It utilizes weighted moving averages (WMA) and range calculations to determine these levels, making it a robust tool for both trending and ranging markets.
SUMMARY
Parameters :
WMA Length : Determines the length for the primary weighted moving average.
Highest High Length : Sets the period for calculating the highest high.
Lowest Low Length : Sets the period for calculating the lowest low.
Range Corrector : Adjusts the range calculation slightly for fine-tuning.
Top Level : Multiplier for determining the top level from the calculated range.
Bottom Level : Multiplier for determining the bottom level from the calculated range.
Levels Visibility : Sets how many recent bars will display the levels.
Trading Zones :
Short Area : Highlighted zone indicating potential shorting opportunities.
Long Area : Highlighted zone indicating potential buying opportunities.
The Levels :
Wave (Yellow): Midpoint of the calculated range, adjusted by WMA.
Top Level (Red): Calculated upper boundary of the trading range.
Sell Level (Pink): Intermediate sell level.
Resistance Level (Magenta): Immediate resistance level.
Support Level (Cyan): Immediate support level.
Buy Level (Light Green): Intermediate buy level.
Bottom Level (Dark Green): Calculated lower boundary of the trading range.
Interpreting the Signals :
Hammer Signal : Red circles above bars indicate potential sell signals.
Rocket Signal : Green circles below bars indicate potential buy signals.
KEY CONCEPTS
Highest High and Lowest Low :
These values represent the highest high ( HH ) and lowest low ( LL ) over a specified number of periods.
Support Level :
This is the lower boundary of the trading range. It is a price level where demand is strong enough to prevent the price from falling further. As the price approaches the support level, it is likely to bounce back up.
Resistance Level :
This is the upper boundary of the trading range. It is a price level where supply is strong enough to prevent the price from rising further. As the price approaches the resistance level, it is likely to pull back down.
THE USE OF MULTIPLIERS :
The script uses several multipliers to adjust and fine-tune the calculated support and resistance levels, as well as to control the range and sensitivity of these levels. Here is a detailed explanation of these multipliers and their purpose:
Range Corrector : This multiplier adjusts the calculated high ( H ) and low ( L ) levels, adding flexibility to how these levels are positioned relative to the highest high and lowest low. It ranges from -1 to 1 , with a default value of 0 . The use of positive values increase the range, making the calculated levels further apart. Thus, using negative values decrease the range, bringing the calculated levels closer together.
Top Level : This multiplier adjusts the distance of the top level from the calculated high H ) level. It fluctuates from 0 to 2 , with a default value of 0.382 . Higher values will push the top level further above the high level, while lower values will bring it closer.
Bottom Level : This multiplier adjusts the distance of the bottom support level from the calculated low support level. Ranging from 0 to 2, with a default value of 0.214, the higher values will push the bottom level further below the low level, while lower values will bring it closer.
The script plots the support and resistance levels on the chart, allowing traders to visualize the trading range. Color-coded zones are used to indicate areas where buying or selling opportunities may arise based on the current price relative to the trading range. A trading range refers to the area between a price's support and resistance levels over a specific period of time. Within this range, the price of the security fluctuates up and down but does not break out above the resistance or below the support. Support and resistance levels to make trading decisions. Buying near the support level and selling near the resistance level is a common strategy. When the price moves above the resistance level, it is called a breakout . A breakout often indicates that the price may start a new upward trend . Conversely, when the price moves below the support level, it is called a breakdown . A breakdown often indicates that the price may start a new downward trend . By understanding and utilizing trading ranges, traders can make more informed decisions, optimize their trading strategies, and manage risk more effectively.
Understanding Moving Averages
A moving average (MA) is a widely used technical indicator that helps smooth out price data by creating a constantly updated average price. The main purpose of using a moving average is to identify the direction of the trend and to reduce the "noise" of random price fluctuations. The Weighted Moving Average ( WMA ) assigns different weights to each period, with more recent periods typically given more weight. A 10-day WMA might give the most recent day a weight of 10, the second most recent day a weight of 9, and so on. It is useful for traders who want to emphasize recent price data more than older data. When the price is above the moving average, it suggests an Bullish trend . A Bearish Trend is expected to take place when the price is below the moving average. Understanding the price reactions around these levels can be used to make trading decisions.
APPLYING CONCEPTS
Support and Resistance Calculations in the Script :
The script calculates dynamic support and resistance levels using weighted moving averages ( WMA s) and the highest high and lowest low over specified periods. Buy ( Rocket ) and sell ( Hammer ) signals are generated based on the crossing of the price with calculated top and bottom levels.These signals help traders identify potential entry and exit points within the trading range .
Weighted Moving Average (WMA) Application in the Script
This script calculates a special trendWMA using the close price that helps in creating a more dynamic moving average that considers both high and low price actions. This modified WMA is used in conjunction with highest high and lowest low values over specified periods to calculate dynamic support and resistance levels.
Explanation of the Levels in the Script
By understanding these levels, traders can make more informed decisions about where to enter and exit trades, manage risk, and anticipate potential market movements. The script incorporates several key levels levels that traders can use to better anticipate price movements and make more informed trading decisions. Leveraging the principles of Fibonacci retracement ratios ( 23.6%, 38.2%, 50%, 61.8%, and 100% ) to identify key support and resistance zones can also serve for gauging the overall market sentiment.
Top Level and Sell Leve l: Used to identify potential resistance zones where the price may reverse or pause.
Support Level and Buy Level : Used to identify potential support zones where the price may bounce.
Upper and Lower Pivot Values : Serve as intermediate levels for possible price retracements or extensions within the trading range.
Wave Level : Indicates the central trend direction, which can be useful for gauging the overall market sentiment.
Alerts are a crucial part of the script as they notify traders of potential buy and sell signals based on predefined conditions. There are two main alerts: one for a " Hammer " signal (sell condition) and one for a " Rocket " signal (buy condition).
Adjust the input parameters to fit your trading style and the specific asset being analyzed. Shorter lengths may be more responsive to price changes but can produce more false signals , while longer lengths provide smoother signals but may lag . Always backtest the indicator on historical data to understand its behavior and performance. Also remember that different markets may require different parameter settings for optimal performance.
Keep in mind that by nature like all moving averages, WMAs lag behind price action. This means that signals may be delayed. The indicator performs differently in various market conditions. Always consider the overall market context when interpreting signals.
Adjusting parameters like the range corrector and visibility can help tailor the indicator to specific market conditions or trading strategies, improving its effectiveness. The script uses the calculated levels to plot lines and fill zones on the chart, helping traders visualize potential support, resistance, and trend reversal points. The use of multipliers allows for dynamic adjustment of these levels, making the indicator flexible and adaptable to different market conditions.
I think traders can make more informed decisions about where to enter and exit trades, manage risk, and anticipate potential market movements following this code. Stay safe and always remember that market is always changing. Use this tool if you want, please stay informed and plan safe trades,
D.
EMA + ATR Support and Resistance + Take Profit SignalThe 'EMA+ ATR Support Resistance Take Profit signal' indicator is a technical analysis tool designed to help traders identify potential support and resistance levels, using the Exponential Moving Average (EMA) and the Average True Range (ATR) indicators. This indicator not only tracks the EMA and ATR but also plots these levels as support and resistance lines, providing useful insights into potential buy and sell points.
The indicator allows you to set the lengths for both the EMA and ATR, with default values set to 20 and 14, respectively. Moreover, you can specify the multiplier for the ATR in the Support/Resistance (S/R) length setting, which defaults to 2. The line width for the plotted lines can also be adjusted according to your preference.
The EMA line in center is invisible by default but you can change that by going to the setting of the indicator. The support and resistance lines are plotted in green and red, respectively. When the price hits the support or resistance levels, the indicator provides a visual signal with a cross shape below or above the respective bars, in lime and red, respectively. If you do not need the take profit signals you can disable them in the setting.
How to Use:
1. Define the EMA and ATR lengths according to your trading strategy. Higher lengths will provide smoother lines but may also lag the current price action.
2. Set the S/R length to determine the distance of the support and resistance lines from the EMA line. Higher values will place these lines further away from the EMA.
3. Monitor the chart for instances when the price hits the support or resistance levels. This is indicated by a cross shape below (for support hit) or above (for resistance hit) the price bar. These points may be considered as potential take profit points or entry/exit points, depending on your strategy.
4. Use the indicator in conjunction with other tools and indicators to confirm signals and reduce the risk of false signals. So the assumption is you enter a trade using your other indicators but you can rely on this indicator to remind you to take profit if you are long by a red cross of the resistance line and if you are short reminds you by a green cross on the support line.
Disclaimer: This indicator should not be used as the sole determinant for any investment decision. Always conduct thorough research and consider multiple factors before trading.
Trend/Retracement - ZigZag - New wayZigZag for Trend and Retracements - New way
It's another way to plot ZigZag based on lookback period for trend and % of trend lookback period to plot retracements.
█ OVERVIEW
Plot ZigZag, Trend lines, Retracements, Support levels, Resistance levels
█ Objective:
Draw ZigZag lines along with unbroken support and resistance levels. ZigZag lines are drawn for main trend and the retracements.
Main Trend – This is calculated based on lookback period.
Retracements – Retracements are calculated as 25% of main trend.
Support and Resistance line: The indicator draws 2 types of support and resistance lines
1. Un-broken – Once formed (plotted), these are the support and resistance which are not yet broken
2. Tested – One can also choose to see support and resistance lines which are tested but not broken. Tested support/resistance are those levels which are touched by high/low price but close price has not crossed the level.
█ How main trend point is calculated:
E.g.
Chart timeframe = 15m
Lookback period = 250
Retracement = 25% of main trend ( 25% of 250 = 62 )
A price point on a chart is considered as trend point if distance between current price and previous highest price is 250 candles
A price point is considered as a retracement if distance between current price and previous highest price is 62 candles. Please note retracements are calculated only after finding a main trend point.
█ Input parameters:
Zigzag Parameters
Use predefined Lookback – If checked pre-defined timeframe-based lookback parameters are used.
Trend lookback candles – If ‘Use predefined Lookback’ is unchecked then this value is used as lookback period.
Retracement % of look back candles– If ‘Use predefined Lookback’ is unchecked then this value is used for calculating retracement lookback period
Mark retracements – If unchecked only main trend lines are plotted
Plot support/resistance – To plot support/resistance levels
Show support/resistance tested lines – If checked tested support/resistance liens are shown on the chart
█ TF based Lookback period config (Defaults are set as specified below, One can change these defaults to use different lookback periods)
The defaults set here are used based on the chart timeframe. e.g. if chart timeframe is changed from say 15m to 60m then 60m chart defaults (i.e. trend lookback = 90) are used to plot the trend and the retracements. At the bottom-right of the chart, parameters used for plotting are displayed all the time.
Timeframe in minute – Default = 5m
Trend lookback candles – Default = 375 (~ 5 days of data)
Timeframe in minute – Default = 15m
Trend lookback candles – Default = 250 (~10 days of data)
Timeframe in minute – Default = 60m
Trend lookback candles = Default = 90 (~ 15 days of data)
Trend lookback candles for timeframe 'D' – Default = 30 (~1 month data)
Trend lookback candles for timeframe 'W' – Default = 21 (~6 months data)
Trend lookback candles for timeframe 'M' – Default = 12 (~1year data)
Retracement % of look back candles – Default = 25%
█ When and where one can use this indicator (Refer to chart examples)
To view support and resistance based on lookback period
To view ZigZag lines
One can use it to find chart patterns easily
Trend and retracement lines can help in drawing Elliott waves.
█ Chart examples:
1. Chart patterns can be easily identified - One can disable the candle charts which will help to identify and draw chart patterns easily
2. Trend and retracement lines can also help is analyzing charts (e.g. Elliott Waves can be marked based on trend lines)
3. Tested but not broken support and resistance lines can be viewed
4. You can select 'NOT' to plot tested support and resistance lines
5. Uncheck the Mark retracements to plot main trend lines (Retracements are not marked)
Price Action in action
What?
Price Action in Action is an indicator to help Price Action learners and practitioners to get everything related for Price Action in one place.
Price Action is:
Price + Volume = Action
In this indicator, we have the following features available:
Support/Resistance
Using the RSI with different periods in a multiple of 7 (7, 14, 21, 28), we first determine the overbought (above 70, customizable) and oversold (below 30, customizable) regions. Then we pick up the highest point and lowest point in the RSI values in the overbought and oversold regions, respectively. These are the point, historically supply/demand emerged for surety to push down/up the RSI indicator and the corresponding price. So, these are the most accurate way, we believe, to draw support/resistance (or demand/supply) in the chart. By default, the Support is green color and Resistance is red color. To give a visual representation, we differentiate the different shades of green and red. For example, for Level-1 (i.e. 7 by default) we use the darkest shade (0 transparency) and Level-4 (i.e. 28 by default) we use lighter shade (60 transparency). Note please: you can customize the color of support and resistance lines (say if you want resistance as green and support as red). The respective shades (transparency) will be automatically adjusted accordingly. But those shade (transparency) levels are not customizable, they are fixed (please bear with it for version-1 at least).
Strength of Support/Resistance
In the chart above/below the Resistance / Support lines you can see the tiny labels with some numbers like 1, 2.
We found out how many times a particular support/resistance is appearing across multiple RSI periods. E.g. if price P1 appears 2 times among 4 different RSI periods, the number will be 2 for that calculation, and so on.
There can be multiple presence of these numbers in a support/resistance line (i.e. multiple tiny labels). Something like: 1, 1, 2 (into different candles). This means the same support/resistance is tested so many times in different occasion (means there is a RSI max/min coincides in this level over multiple occasions) at different candles.
This will help you to intuitionally gauge the “strength” of a support/resistance line.
The more the marrier, unworthy to mention.
Candle Stick Patterns
Well: we don’t need to tell anything about the Candlestick. All of you know it better than us. And it’s a time proven, zero-lag mechanism to judge the Price-Action is unfolding in the market. We do not know if there is anything better possible than this time tested patterns to judge the prevailing sentiments of market.
Price-Action does not complete without finding out the Candlestick Patterns correctly.
And in this indicator your will get all of these: Single Candle such as Doji (default off), Marubozu, Spinner, hammers, inverted-hammer etc. ; 2 candles like Tweezer, Inside Candle, Engulfing; 3 candles like morning star/evening star.
In the multi candle patterns (2/3 candles), we are grouping the candles with a dotted rectangle such that it is clear which 2/3 candles are part of the pattern. E.g. Morning Star: 3 candles are grouped in a dotted rectangle and the Morning Star label will come to the latest candle (3rd most – as the pattern is detected reliably only on the completion of the 3rd final candle).
Of course, any program can not eliminate your trained eyes and brain to capture the patterns. But we have provided sufficient knobs to adjust various parameters to tweak the candle-pattern detection. Such as Strict Inside Candle(Harami) Boolean knob where the whole current candle including wicks will be inside the body part of the previous big candle. For non-strict mode, the current candle just inside the previous candle, possibly by wicks.
To make it better usable, for every such knobs (which are not obvious) we have added user-friendly tooltip (just mouse hover the question mark (?) besides the control/switch). There are plenty of it.
Volume
Here we have a rudimentary (yet effective) way to judge the volumes.
We find out the Volume Weighted Moving Average (VMWA) of the 20-period (default, but customizable) and the latest volume. If the latest volume is more than the 20 period vwma, we just add a grey diamond on the top of the candle to denote it’s attracting volumes. Of course, we provide a Weight coefficient (default is set to 1). So if the current bar’s volume on bar’s completion is more than the 20 period volume vmwa times the weigh-cofficient, we mark it with a tiny grey diamond.
Points to be noted:
In all places we mark the indication only on the completion of the bar (technically speaking we have checks, as far as possible, with barstate.isconfirmed). However, if you wish, you can turn it off for Candlestick (as some experts may want to check candlestick on the real time, even before the closing of bars).
In case if you see the chart looks cluttered (because of many information, specially in smaller timeframes like 5 min), there are controls given in the settings to toggle each and every features.
By default, we turn off Doji candles (all 3 types of Doji’s – normal, Gravestone & Dragonfly) as they are mainly indecision. However, you can toggle it to turn it on.
It does not give you any Buy/Sell call. The interpretation it does not have.
Why?
What’s unique in it?
As we already mentioned our intention is to include Price (in forms of Support / Resistance), Volume and Action (sentiments in terms of Candlestick patterns) into a single place. And so far, to the best of our knowledge, we could not come across a single indicator provides all of these.
There were works available to determine the RSI based support / resistance zones. Those are great piece works at that time (lets say 3 years back when PineScript was in earlier versions). To the best of our knowledge those does not cover up finding out the lowest / highest point of RSI and the corresponding price to get the simplistic and distinct support/resistance lines.
We have the intuitive support/resistance strength included which we could not found out in current set of available indicators.
To the best of our knowledge, there seems no indicator can detect 3-candle patterns which are extremely popular to detect trend reversals (such as Morning Star or Evening Star). Moreover for the multi-candle patterns we are grouping the candles part of the pattens (2-candles or 3-candles) using a dotted rectangle such that it’s visually clearly (and a well educative material for Price-Action learners also).
Mentions:
There are many works which inspire us along the way. Honestly: we sometimes forgot which all indicators we experimented with. We are sincerely apologetic in case we forgot to mention. A few note-worthy:
There is an indicator from user “repo32” named as “Candlestick Patterns Identified (updated 3/11/15)”. (We could not be able to contact “repo32”). We are inspired from his work that it’s feasible to detect Candlestick patterns.
There is an awesome work done by “RSI Based Automatic Demand and Supply” by user “shtcoinr”. The idea of consulting multiple RSI levels to find out the demand/supply zone we inspired from him. (We did contact “shtcoinr” and got his kind permission to use the concept.)
We are greatly thankful to these abovementioned wizards for their pioneering a-prior work in this front.
And of course, this TradingView platform to provide this abstraction, facilitates and felicitates collaborative contributions.
Ultimately, what’s for you?
That’s the main question. What’s for you?
Price-action comprises of following 3 tasks (at least):
Draw support/resistance lines in the chart.
Once price reaches at the support/resistance line, you fervently look out the candles’ formation to mentally map to the candle patterns. Your aim is divine: You want to judge if the price-action will continue or take a rejection/reversal.
Then you double-confirm with the volume (in a non-overlaid chart below).
Finally take a trade.
For a price-action newbie or seasoned, expert practitioner, you must be doing all the above tasks regularly and manually, in a mechanical, mundane way. There come the humanly subjectivity & the inevitable emotions . This indicator, being a piece of program/code in PineScript latest version v5 , eliminates (or at least, reduces to a great extend) that subjectivity & emotions out of the way of decision making . Thus resulting better yield.
Of course, you can argue that you draw slanted trend lines also. We recommend an already existing indicator by user LuxAlgo named as “Trendlines with Breaks ”, if you wish so.
Disclaimer:
This piece of software does not come up with any warrantee or any rights of not changing it over the future course of time.
We are not responsible for any trading/investment decision you are taking out of the outcome of this indicator.
Happy trading.
Fibonacci Grid [LuxAlgo]The following indicator returns multiple diagonal lines forming a grid. Each line has 45-degree and is set depending on Fibonacci ratios as well as the maximum and minimum price value over a certain lookback period. These can be used as potential support and resistance.
Users also have the option to set equidistant lines instead of having them determined by Fibonacci ratios.
Settings
Length: Lookback period for determining the maximum/minimum price value used for constructing the grid.
Resolution: Grid resolution, higher values will return more lines (only available when the "Use Fibonacci Ratios" is disabled)
Use Fibonacci Ratios: Set the lines based on Fibonacci Ratios, 6 ratios are used.
Usage
Each individual diagonal line can be used as support/resistance. Two Diagonal lines form channels where the price might evolve until a breakout.
The underlying logic of this grid determined by Fibonacci ratios is that price variations farther away from the main diagonals (in orange) would tend to move inside tighter channels.
Diagonals set using Fibonacci Ratios will form tighter channels when away from the center of the Lookback area. While equidistant lines will keep the same distance between each line.
Trend Regularity Adaptive Moving Average [LuxAlgo]The following moving average adapt to the average number of highest high/lowest low made over a specific period, thus adapting to trend strength. Interesting results can be obtained when using the moving average in a MA crossover system or as a trailing support/resistance.
Settings
Length : Period of the indicator, with higher values returning smoother results.
Src : Source input of the indicator.
Usage
The trend regularity adaptive moving average (TRAMA) can be used like most moving averages, with the advantage of being smoother during ranging markets.
Notice how the moving closer to the price the longer a trend last, such effect can be practical to have early entry points when using the moving average in a MA crossover system, such effect is due to the increasing number of average highest high/lowest low made during longer trends. Note that in the case of a significant uptrend followed by a downtrend, the moving average might penalize the start of the downtrend (and vice versa).
The moving average can also act as an interesting trailing support/resistance.
Details
The moving average is calculated using exponential averaging, using as smoothing factor the squared simple moving average of the number of highest high/lowest low previously made, highest high/lowest low are calculated using rolling maximums/minimums.
Using higher values of length will return fewer highest high/lowest low which explains why the moving average is smoother for higher length values. Squaring allows the moving average to penalize lower values, thus appearing more stationary during ranging markets, it also allows to have some consistency regarding the length setting.
🧙 this moving average would not be possible without the existence of corn syrup 🦎
EDUVEST QQE Grade System - S/A/B/C Signal ClassificationEDUVEST QQE Grade System - S/A/B/C Signal Classification
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█ ORIGINALITY
This indicator introduces a unique grading system (S/A/B/C) for QQE signals, combining traditional QQE analysis with SMC (Smart Money Concepts) price zones and trading session filters. Unlike standard QQE indicators that show all signals equally, this version classifies signals by quality to help traders focus on the highest probability setups.
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█ WHAT IT DOES
- Generates BUY/SELL signals with S/A/B/C grade classification
- Automatically detects asset type and applies optimized QQE factors
- Integrates SMC price zones (support/resistance) for grade enhancement
- Filters signals by trading session time
- Displays real-time session and market status
Grade Hierarchy:
- S (Gold/Orange): Signal near SMC zone + active trading hours - Highest quality
- A (Green/Red): Score 70+ during trading hours - High quality
- B (Darker): Score 50-69 during trading hours - Medium quality
- C (Gray, small): Outside trading hours or weak signal - Low quality
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█ HOW IT WORKS
【QQE Core Calculation】
The QQE (Quantitative Qualitative Estimation) is calculated as:
1. RSI with configurable period (default: 14)
2. EMA smoothing of RSI (Smoothing Factor: 5)
3. Dynamic bands using Wilder's smoothing: RSI ± (ATR of RSI × QQE Factor)
QQE Factor is auto-adjusted per asset:
- USD/JPY: 4.238
- EUR/USD: 3.8
- Gold (XAU/USD): 8.0
- NASDAQ/US100: 9.0
【Signal Generation】
- BUY: QQE line crosses above its trailing stop (QQExlong == 1)
- SELL: QQE line crosses below its trailing stop (QQExshort == 1)
【Internal Scoring System】
Score components (0-100):
- Signal Base: +25 points when signal occurs
- QQE Strength: +10 to +20 based on RSI distance from 50
- Volatility: +15 (optimal ATR ratio 1.1-2.0), -10 (low volatility)
- Volume Confirmation: +10 (high volume), -5 (low volume)
- Session Bonus: +5 during London/NY sessions
- Base: +20 points
【Grade Assignment】
- Grade S: Signal near user-defined SMC price zone (within tolerance %) AND during trading hours
- Grade A: Internal score >= 70 AND during trading hours
- Grade B: Internal score >= 50 AND during trading hours
- Grade C: Outside trading hours OR score < 50
【SMC Price Zone Integration】
Users can set support/resistance levels for each asset. When price is within the tolerance percentage of these levels, signals are upgraded to S-grade, indicating confluence with institutional price levels.
【Trading Session Filter】
Configurable active trading hours (JST timezone):
- Default: 15:00 - 01:00 JST (London + NY overlap)
- Signals outside this window receive C-grade
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█ HOW TO USE
【Recommended Settings】
- Timeframe: 15M, 1H, 4H
- Best on: USD/JPY, EUR/USD, Gold, NASDAQ
- Focus on: S and A grade signals
【Trading Strategy】
- S-Grade (Gold/Orange): Highest conviction - consider larger position
- A-Grade (Green/Red): Strong signal - standard position
- B-Grade: Valid but use additional confirmation
- C-Grade: Avoid or use minimal size
【Setting Up SMC Zones】
1. Identify key support/resistance on higher timeframe
2. Input prices in SMC Price Settings
3. Adjust tolerance % (default: 0.15%)
4. S-grade appears when signal occurs near these levels
【Info Panel】
Top-right panel shows:
- Asset name and detection mode (Auto/Manual)
- Current session (Tokyo/London/NY)
- Trading hours status
- SMC zone proximity
【Alert Setup】
1. Enable alerts in settings
2. Create alert with "Any alert() function call"
3. Alerts include grade, price, and session info
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█ SETTINGS
Basic Settings:
- Enable Alerts: Turn on/off notifications
- Time Filter: Activate trading hour filter
- Start/End Hour: Define active trading window (JST)
QQE Settings:
- RSI Period: RSI calculation period
- RSI Smoothing: EMA smoothing factor
- Auto QQE Factor: Auto-detect optimal factor per asset
- Manual QQE Factor: Override when auto is disabled
SMC Price Settings:
- Support/Resistance levels for each asset
- Tolerance %: How close to SMC line for S-grade
Display Settings:
- Grade Only: Hide QQE lines, show only signals
- Show SMC Lines: Display support/resistance on chart
- Show Debug: Display asset detection info
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█ CREDITS
QQE concept originally developed by John Ehlers.
SMC (Smart Money Concepts) integration and grading system by EduVest.
License: Mozilla Public License 2.0
Daily Floor PivotsDaily Floor Pivots with Comprehensive Statistical Analysis
Overview
This indicator combines traditional floor pivot levels with golden zone analysis and comprehensive statistical insights derived from 15 years of historical NQ futures data. While the pivot levels and golden zones can be applied to any instrument, the statistical tables are specifically calibrated for NQ/MNQ futures based on analysis of 2,482 NY Regular Trading Hours (RTH) sessions from 2010-2025.
What Makes This Indicator Original
Unlike standard pivot indicators that merely plot levels, this tool provides:
Enhanced Golden Zone Analysis: Calculates not only the main golden zone (0.5-0.618 retracement of previous day's range) but also golden zones between each pivot pair (PP-R1, R1-R2, R2-R3, PP-S1, S1-S2, S2-S3)
Data-Driven Statistical Tables: Two comprehensive tables displaying real statistics from 2,482 trading days of NQ analysis, including:
Probability-based touch rates and continuation patterns
Context-aware statistics based on opening position
Gap analysis and behavioral patterns
First touch dynamics and time-to-reach averages
Granular Customization: Every visual element and statistical section can be independently toggled, allowing traders to focus on what matters most to their strategy
How It Works
Pivot Calculation Methodology
The indicator uses the standard floor pivot formula based on the previous day's price action:
Pivot Point (PP) = (Previous High + Previous Low + Previous Close) / 3
Resistance Levels: R1, R2, R3 calculated from PP and previous range
Support Levels: S1, S2, S3 calculated from PP and previous range
Golden Zone Calculations
Main Golden Zone: The 0.5 to 0.618 Fibonacci retracement of the previous day's range, representing a key reversal and continuation area.
Inter-Pivot Golden Zones: For each adjacent pivot pair, golden zones are calculated as:
Resistance pairs (PP→R1, R1→R2, R2→R3): 0.5-0.618 range from the lower pivot
Support pairs (PP→S1, S1→S2, S2→S3): 0.382-0.5 range from the upper pivot
These zones represent high-probability areas where price tends to react when moving between pivot levels.
Statistical Analysis Source
All statistics displayed in the tables are derived from external Python analysis of 15 years of 1-minute NQ futures data (2010-2025), specifically analyzing NY RTH sessions (9:30 AM - 4:00 PM EST). The analysis tracked:
2,482 complete trading days
Intraday pivot touches and closes
Opening position context
Gap behavior relative to previous day
Time-of-day patterns
Sequential pivot interactions
IMPORTANT: While the pivot levels and golden zones are universally applicable mathematical calculations that work on any instrument, the statistical percentages shown in the tables are specific to NQ/MNQ behavior only. Do not assume these statistics transfer to other instruments.
Configuration Guide
Basic Settings
Number of Periods Back (1-20, default: 3)
Controls how many historical pivot periods are displayed on the chart
Setting to 1 shows only current day's pivots
Higher values show more historical context
Labels Position (Left/Right)
Choose whether pivot labels appear on the left or right side of each level line
Line Width (1-5, default: 2)
Adjust the thickness of all pivot and golden zone lines
Golden Zone Customization
Show Daily Golden Zone (0.5-0.618)
Toggle the main golden zone on/off
When enabled, displays a shaded box between the 0.5 and 0.618 retracement levels
Line Color / Fill Color
Customize the appearance of the main golden zone
Fill color determines the shaded box transparency
Show Labels / Show Prices
Control whether "0.5" and "0.618" labels appear
Control whether price values are displayed on labels
Inter-Pivot Golden Zones
Six toggle options allow you to show/hide individual golden zones:
PP to R1 / PP to S1: Most frequently touched (60.8% / 50.9%)
R1 to R2 / S1 to S2: Moderately touched (25.2% / 24.0%)
R2 to R3 / S2 to S3: Rarely touched (9.4% / 10.5%)
Line Color / Fill Color: Customize appearance of all inter-pivot zones
Show Labels / Show Prices: Control labeling for inter-pivot zones
Usage Tip: Disable outer zones (R2-R3, S2-S3) on lower volatility days to reduce chart clutter.
Pivot Display
Show Support/Resistance Levels: Master toggle for all pivot lines
Show SR Labels / Show SR Prices: Control labeling on pivot levels
Individual level toggles and colors:
PP (Pivot Point): The central reference point
R1/S1: Primary resistance/support (38.9% / 35.4% touch rate)
R2/S2: Secondary levels (15.6% / 16.1% touch rate)
R3/S3: Extended levels (5.1% / 7.3% touch rate)
Color Customization: Each level's color can be independently set
Overall Statistics Table
Show Overall Statistics Table: Master toggle
Table Size: tiny/small/normal/large/huge/auto
Table Position: Top Left/Top Right/Bottom Left/Bottom Right
Section Toggles (enable/disable individual sections):
Current Session Info
Touch & Close Rates
Continue & Reject Rates
First Touch Statistics
Golden Zone Statistics
Daily Close Distribution
Highest/Lowest Levels Reached
Context Statistics Table
Show Context Statistics Table: Master toggle
Table Size: tiny/small/normal/large/huge/auto
Table Position: Top Left/Top Right/Bottom Left/Bottom Right
Section Toggles:
Current Opening Zone
Opening Zone Statistics
Previous Day Gap Context
Understanding the Statistical Tables
TABLE 1: OVERALL STATISTICS
This table presents universal statistics from 2,482 days of NQ analysis.
Current Session Info
Displays real-time context for the active session:
Open: Where the current RTH session opened relative to pivots (e.g., "GZ_TO_R1" means opened between the PP-R1 golden zone and R1)
Now: Current price position relative to pivots
Direction: Bull (close > open), Bear (close < open), or Flat
How to use: This section helps you quickly understand where price opened and where it currently is, providing immediate context for the day's action.
Touch & Close Rates
Shows probability that each pivot level will be reached during RTH:
Touch %: Percentage of days where price touched this level at any point
Example: R1 touched 38.9% of days, PP touched 57.5% of days
Close %: Percentage of days where price closed beyond this level
Example: R1 close beyond happened 39.8% of days
How to interpret:
Higher touch rates indicate more reliable levels for intraday targeting
The difference between touch and close rates shows rejection frequency
PP has the highest touch rate (57.5%), making it the most magnetic level
Outer levels (R3/S3) have low touch rates (5.1%/7.3%), indicating rare extension days
Continue & Reject Rates
When a level is touched, these statistics show what happens next:
Continue %: Probability price continues through the level
Example: When PP is touched, price continues 88.1% of the time
Reject %: Probability price rejects from the level and reverses
Example: When R1 is touched, price rejects 50.9% of the time
How to interpret:
PP shows highest continuation (88.1%), confirming it's a poor reversal level
Support levels (S1/S2/S3) show strong rejection rates (62.5%/60.7%/56.1%), making them better reversal candidates
Continuation rates above 80% suggest the level is better as a target than an entry
First Touch Statistics
Analyzes which pivot is typically touched first during RTH:
1st Touch %: Probability this level is the first pivot encountered
PP is first touched 37.1% of days (most common)
R1 is first touched 26.0% of days
S1 is first touched 10.9% of days
1st→Continue: If this level is touched first, probability of continuation
S1-S3 show 95.6%-100% continuation when touched first
This means when price reaches support first, it usually continues lower
Avg Time: Minutes after 9:30 AM EST before first touch
PP: 1h 6m average
S3: 19m average (when bearish)
R3: 3h 19m average (when bullish)
How to interpret:
Opening away from PP means higher probability of reaching extremes (R2/R3 or S2/S3)
When support is touched first (within first 2 hours), expect continuation lower
Late-day first touches (after 2 PM) often indicate strong trending days
Multi-Touch: Shows how often levels are tested multiple times (92.8%-95.0% across all levels)
Golden Zone Statistics
Main GZ: 58.5% touch rate for the 0.5-0.618 zone
Inter-Pivot zones:
PP-R1: 60.8% (highest probability)
PP-S1: 50.9%
R1-R2: 25.2%
S1-S2: 24.0%
R2-R3: 9.4%
S2-S3: 10.5%
How to interpret:
Main GZ is touched more often than any individual resistance level
PP-R1 and PP-S1 golden zones are high-probability mean reversion areas
Outer golden zones (R2-R3, S2-S3) are only relevant on high volatility days
Daily Close Distribution
Shows where RTH sessions typically close:
Above/Below PP: 58.5% close above, 41.5% below (slight bullish bias)
Above R1: 24.5% of days
Below S1: 18.7% of days
In GZ: Only 6.3% close in the golden zone (typically transits through it)
How to interpret:
Most days (58.5%) have bullish bias (close above PP)
Less than 25% of days are strong trending days (beyond R1/S1)
Golden zone is an action area, not a resting area
Highest/Lowest Levels Reached
Distribution of the most extreme level reached:
High Resist: R1 (26.0%), R2 (10.8%), R3 (5.1%)
Low Support: S1 (35.4%), S2 (1.9%), S3 (0.6%)
How to interpret:
Most days don't reach beyond R1 or S1
R3/S3 are rare events (5.1%/0.6%), indicating major trending days
S1 is reached as lowest level more often than R1 as highest, suggesting downside is more frequently tested
TABLE 2: CONTEXT STATISTICS
This table provides conditional statistics based on how the session opened.
Current Opening Zone
Displays which of 13 possible zones the RTH session opened in:
ABOVE_R3, R2_TO_R3, R1_TO_R2, GZ_TO_R1, IN_GZ, PP_TO_GZ, AT_PP, GZ_TO_PP, S1_TO_GZ, S2_TO_S1, S3_TO_S2, BELOW_S3
How to use: This immediately tells you the market structure and what type of day to expect.
Opening Zone Statistics
Detailed statistics for the current opening zone (only shows for 6 major zones):
For each zone, you see:
Occurs: How often this opening scenario happens
GZ_TO_R1: 38.4% (most common)
AT_PP: 12.8%
S1_TO_GZ: 24.2%
R1_TO_R2: 9.4%
S2_TO_S1: 6.3%
IN_GZ: 3.8%
Bull/Bear %: Close direction probability
Example: GZ_TO_R1 is perfectly balanced (50.0% bull / 49.6% bear)
R1_TO_R2 is bullish (58.1% bull / 41.0% bear)
Levels Hit: Probability of reaching each pivot level from this opening
Helps identify high-probability targets
Example: From GZ_TO_R1, PP is hit 52.9%, R1 is hit 49.0%, S1 is hit 21.6%
How to interpret:
GZ_TO_R1 (most common): Balanced day, watch PP and GZ for direction clues
AT_PP: Slight bullish bias (56.9%), high chance of touching both PP (92.8%) and GZ (90.3%)
R1_TO_R2: Bullish bias (58.1%), expect continuation to R2 (58.1% chance)
S2_TO_S1: Bullish reversal setup (59.9%), very high chance of S1 touch (82.8%)
IN_GZ: Rare opening (3.8%), bullish bias, virtually guaranteed GZ touch (100%)
Previous Day Gap Context
Shows current gap scenario and typical behavior:
Three scenarios:
GAP UP: Opened Above Yesterday's High (20.5% of days)
R1 Touch: 65.9% (high probability)
R2 Touch: 42.1%
S1 Touch: 15.0% (low probability)
Bias: Bullish continuation
GAP DOWN: Opened Below Yesterday's Low (11.3% of days)
S1 Touch: 71.5% (high probability)
S2 Touch: 55.2%
R1 Touch: 12.1% (low probability)
Bias: Bearish continuation
NO GAP: Opened Within Yesterday's Range (68.2% of days)
PP Touch: 69.5%
GZ Touch: 71.7%
R1 Touch: 35.2%
Bias: Balanced (watch for direction at PP/GZ)
How to interpret:
Gap days (up or down) tend to continue in the gap direction
When gapping, fade trades are low probability (15.0% and 12.1%)
Most days (68.2%) open within previous range, making PP and GZ critical decision zones
The "bias" line provides clear directional guidance for trade selection
Practical Application Examples
Example 1: Standard Day Setup
Scenario: RTH opens at 20,450
PP: 20,400
GZ: 20,390-20,395
R1: 20,425
Previous day high: 20,460
What the tables tell you:
Opening Zone: "GZ_TO_R1" (38.4% occurrence)
Gap Context: "NO GAP" (68.2% occurrence)
Expected behavior: Balanced (50/50 bull/bear)
High probability: PP touch (52.9%), GZ touch (56.8%)
Moderate probability: R1 touch (49.0%), S1 touch (21.6%)
Trade plan:
Wait for price to reach PP (52.9% chance) or GZ (56.8% chance)
Look for directional confirmation at these levels
First target R1 if bullish, S1 if bearish
Avoid assuming direction without confirmation (perfectly balanced opening)
Example 2: Gap Up Day
Scenario: RTH opens at 20,510
Previous day high: 20,460
R1: 20,425
R2: 20,475
What the tables tell you:
Gap Context: "GAP UP" (20.5% occurrence)
R1 touch: 65.9% probability
R2 touch: 42.1% probability
S1 touch: Only 15.0% probability
Bias: Bullish continuation
Trade plan:
Favor long setups
Target R1 first (65.9% chance), then R2 (42.1%)
If R1 breaks, R2 becomes likely target
Shorting is low probability (only 15.0% reach S1)
Example 3: Opening in Golden Zone
Scenario: RTH opens at 20,393
PP: 20,400
GZ: 20,390-20,395
What the tables tell you:
Opening Zone: "IN_GZ" (rare, only 3.8% occurrence)
Bullish bias: 58.1%
GZ touch: 100% (guaranteed - already there)
PP touch: 75.3%
R1 touch: 41.9%
Trade plan:
Expect price to test PP (75.3% chance)
Slight bullish bias suggests long setups better than shorts
Watch how price reacts at PP - likely to continue to R1 (41.9%)
This is an uncommon opening, suggesting potential for larger moves
Best Practices
Match Your Instrument: Remember, statistics are NQ-specific. If trading other instruments, use the levels but disregard the statistical percentages.
Combine with Price Action: Use the statistics for probability context, not as standalone signals. Always confirm with price action, volume, and your trading methodology.
Adapt Table Display: Don't display all sections all the time. Toggle based on your trading phase:
Pre-market: Focus on "Gap Context" to understand the setup
Market open: Watch "Opening Zone Statistics" for directional bias
Intraday: Monitor "Current Session Info" for position tracking
Understand Context: A 60% touch rate doesn't mean guaranteed—it means 40% of days don't touch. Use these probabilities to size positions and manage expectations.
Inter-Pivot Golden Zones: These are most useful when price is already in motion toward a level. For example, if price breaks above PP heading to R1, the PP-R1 golden zone (60.8% touch rate) becomes a high-probability pullback area.
Time Awareness: The "Avg Time" statistics help you understand urgency. If it's 10:30 AM and S1 hasn't been touched (average is 55 minutes), the window for bearish moves is closing.
Technical Notes
Time Zone: All times referenced are NY/EST
Session Definition: RTH is 9:30 AM - 4:00 PM EST
Calculation Period: Pivots update daily based on previous 24-hour period (18:00 previous day to 17:00 current day)
Data Source: Statistics derived from 12 years of NQ 1-minute futures data (2013-2025)
Sample Size: 2,482 complete RTH trading sessions
Disclaimer
This indicator provides statistical probabilities based on historical NQ futures data. Past performance does not guarantee future results. The statistical tables are educational tools and should not be the sole basis for trading decisions. Always:
Use proper risk management
Combine with your own analysis
Understand that probabilities are not certainties
Remember that statistics are instrument-specific (NQ/MNQ only)
Credits
Statistical analysis performed using Python analysis of 12 years of historical NQ futures data. All pivot and golden zone calculations use standard mathematical formulas applicable to any instrument.
GC/DC Momentum Predictor🎯 GC/DC Momentum Predictor v1.0
CORE CONCEPT:
Predicts Golden Cross/Death Cross BEFORE they occur by analyzing momentum, proximity, and trend alignment across 3 moving averages (20/60/120).
KEY SIGNALS:
- Strong GC/DC: Signals occurring with trend (above/below 120 MA) - Highest reliability
- Weak GC/DC: Signals occurring against trend - Lower reliability, use caution
- Support Hold: ⭐ MOST IMPORTANT - Price bounces from 120 MA during DC = Low-risk buy opportunity
- Resistance Break: Price breaks above 120 MA during GC = Strong bullish confirmation
HOW TO USE:
1. Add indicator to chart (works best on 4H/Daily timeframes)
2. Customize MA periods in Settings if needed (default: 20/60/120)
3. Set up alerts for key signals (especially "Support Hold")
4. Watch dashboard for real-time signal status
DASHBOARD GUIDE:
- MA: Your moving average periods
- Signal: Current prediction (Strong GC/Weak GC/Strong DC/Weak DC/No Signal)
- Short MA: 20/60 alignment (Bullish/Bearish/Mixed)
- Long MA: Price position vs 120 MA (Bullish/Bearish)
- 120 Status: Support/Resistance action (most critical for entries/exits)
- Gap: Distance between 20/60 MAs (negative = DC zone, positive = GC zone)
ALERT SETUP:
Create alerts in TradingView for:
- 💪 Support Hold (best buy signal)
- ✅ Strong GC (strong uptrend entry)
- 🚀 Resistance Break (breakout confirmation)
- ❌ Strong DC (exit signal)
CUSTOMIZATION:
All dashboard rows can be toggled on/off in Settings > Dashboard Settings
Adjust colors, position, and size to match your trading style
BEST PRACTICES:
✓ Wait for "Support Hold" during corrections for optimal entries
✓ Strong signals are more reliable than Weak signals
✓ Combine with volume analysis for confirmation
✓ Use "Once Per Bar Close" for alerts to avoid false signals
PARAMETER GUIDE:
- Short SMA (20): Short-term moving average period
- Long SMA (60): Mid-term moving average period
- Trend SMA (120): Long-term trend moving average period
- Proximity Threshold (2%): How close MAs must be for signal (lower = fewer signals)
- Acceleration Factor (1.2): Momentum strength requirement (higher = fewer signals)
Version 1.0 | January 2025
Free to use | Please leave feedback in comments!
🎯 GC/DC 모멘텀 예측기 v1.0
핵심 개념:
3개의 이동평균선(20/60/120)에서 모멘텀, 근접도, 추세 정렬을 분석하여 골든크로스/데드크로스를 발생 전에 미리 예측합니다.
주요 신호:
- Strong GC/DC: 추세와 함께 발생하는 신호(120 MA 위/아래) - 신뢰도 최고
- Weak GC/DC: 추세와 반대로 발생하는 신호 - 신뢰도 낮음, 주의 필요
- Support Hold: ⭐ 가장 중요 - DC 중 120 MA에서 반등 = 저위험 매수 기회
- Resistance Break: GC 중 120 MA 돌파 = 강한 상승 확인
사용 방법:
1. 차트에 지표 추가 (4시간봉/일봉에서 최적)
2. 필요시 설정에서 MA 기간 조정 (기본값: 20/60/120)
3. 핵심 신호에 대한 알림 설정 (특히 "Support Hold")
4. 대시보드에서 실시간 신호 상태 확인
대시보드 가이드:
- MA: 사용 중인 이동평균 기간
- Signal: 현재 예측 신호 (Strong GC/Weak GC/Strong DC/Weak DC/No Signal)
- Short MA: 20/60 배열 상태 (Bullish/Bearish/Mixed)
- Long MA: 120 MA 대비 가격 위치 (Bullish/Bearish)
- 120 Status: 지지/저항 행동 (진입/청산에 가장 중요)
- Gap: 20/60 MA 간 거리 (음수 = DC 구간, 양수 = GC 구간)
알림 설정:
트레이딩뷰에서 다음 신호에 대한 알림 생성:
- 💪 Support Hold (최고의 매수 신호)
- ✅ Strong GC (강한 상승 추세 진입)
- 🚀 Resistance Break (돌파 확인)
- ❌ Strong DC (청산 신호)
커스터마이징:
모든 대시보드 행은 설정 > Dashboard Settings에서 켜기/끄기 가능
색상, 위치, 크기를 트레이딩 스타일에 맞게 조정
추천 사용법:
✓ 조정 시 "Support Hold" 대기로 최적 진입점 확보
✓ Strong 신호가 Weak 신호보다 신뢰도 높음
✓ 거래량 분석과 병행하여 확인
✓ 알림은 "봉 종가 시 한 번"으로 설정하여 허위 신호 방지
파라미터 설명:
- Short SMA (20): 단기 이동평균 기간
- Long SMA (60): 중기 이동평균 기간
- Trend SMA (120): 장기 추세 이동평균 기간
- Proximity Threshold (2%): 신호 발생을 위한 MA 간 근접도 (값이 작을수록 신호 적음)
- Acceleration Factor (1.2): 모멘텀 강도 요구 수준 (값이 클수록 신호 적음)
버전 1.0 | 2025년 1월
무료 사용 | 댓글로 피드백 부탁드립니다!
WoAlgo Premium v3.0
WoAlgo Premium v3.0 - Smart Money Analysis
Overview
** WoAlgo Premium v3.0 ** is an advanced technical analysis indicator designed for educational purposes. This tool combines Smart Money Concepts with multi-factor confluence analysis to help traders identify potential market opportunities across multiple timeframes.
The indicator integrates market structure analysis, order flow concepts, and technical momentum indicators into a comprehensive dashboard system. It is designed to assist traders in understanding institutional trading patterns and market dynamics through visual analysis tools.
### What It Does
This indicator provides:
**1. Smart Money Concepts Analysis**
- Market structure identification (Break of Structure and Change of Character patterns)
- Order block detection with volume confirmation
- Fair value gap recognition
- Liquidity zone mapping (equal highs and lows)
- Premium and discount zone calculations
**2. Multi-Factor Confluence Scoring**
The indicator calculates a proprietary confluence score (0-100) based on five key components:
- Price action analysis (30% weight)
- Volume confirmation (20% weight)
- Momentum indicators (25% weight)
- Trend strength measurement (15% weight)
- Money flow analysis (10% weight)
**3. Multi-Timeframe Analysis**
- Scans 5 different timeframes (5M, 15M, 1H, 4H, Daily)
- Calculates alignment percentage across timeframes
- Displays trend and structure status for each period
**4. Visual Dashboard System**
- Comprehensive main dashboard with 13 metrics
- Real-time screener table with 10 data columns
- Multi-timeframe scanner
- Performance tracking panel
### How It Works
**Market Structure Detection**
The indicator identifies key structural changes in price action:
- **BOS (Break of Structure)**: Indicates trend continuation when price breaks previous swing points
- **CHoCH (Change of Character)**: Signals potential trend reversal when market structure shifts
**Order Block Identification**
Order blocks are detected when:
- Significant volume appears at swing points
- Price shows strong directional movement from these levels
- Enhanced detection with extreme volume confirmation (OB++ markers)
**Fair Value Gap Recognition**
Gaps between candles are identified when:
- Price leaves inefficiencies in the market
- Three consecutive candles create a gap pattern
- Gap size exceeds minimum threshold based on ATR
**Confluence Calculation**
The system evaluates multiple technical factors:
1. **Price Position**: Relative to moving averages (EMA 20, 50, 200)
2. **Volume Analysis**: Standard deviation-based volume spikes
3. **Momentum**: RSI, MACD, Stochastic indicators
4. **Trend Strength**: ADX measurements
5. **Money Flow**: MFI indicator readings
Each factor contributes weighted points to create an overall confluence score that helps assess signal strength.
### Signal Types
**Confirmation Signals (▲ / ▼)**
Generated when:
- EMA crossovers occur (20/50 cross)
- Volume confirmation is present
- RSI is in appropriate zone
- Confluence score exceeds 50%
**Strong Signals (▲+ / ▼+)**
Higher-confidence signals requiring:
- Confluence score above 70%
- Extreme volume confirmation
- Alignment with 200 EMA trend
- MACD confirmation
- Bullish or bearish market structure
**Contrarian Signals (⚡)**
Reversal indicators appearing when:
- RSI reaches extreme levels (<30 or >70)
- Stochastic shows oversold/overbought conditions
- Price touches Bollinger Band extremes
- Potential divergence patterns emerge
**Reversal Zones**
Visual boxes highlighting areas where:
- Market structure conflicts with momentum
- High probability of directional change
- Key support/resistance levels interact
**Smart Trail**
Dynamic stop-loss indicator that:
- Adjusts based on ATR (Average True Range)
- Follows trend direction
- Updates automatically as price moves
- Provides risk management reference points
### Dashboard Components
**Main Dashboard (13 Metrics)**
1. **Confluence Score**: Current bull/bear percentage (0-100)
2. **Market Regime**: Trend classification (Strong Up/Down, Range, Squeeze)
3. **Signal Status**: Active buy/sell signal indication
4. **Structure State**: Current market structure (Bullish/Bearish/Neutral)
5. **Trend Strength**: ADX-based measurement
6. **RSI Level**: Momentum indicator with overbought/oversold zones
7. **MACD Direction**: Trend momentum confirmation
8. **Money Flow Index**: Smart money sentiment
9. **Volume Status**: Current volume relative to average
10. **Volatility Rating**: ATR percentage measurement
11. **ATR Value**: Average true range for position sizing
12. **MTF Alignment**: Multi-timeframe agreement percentage
**Screener Table (10 Columns)**
- Current symbol and timeframe
- Real-time price and percentage change
- Quality rating (star system)
- Active signal type
- Smart trail status
- Market structure state
- MACD direction
- Trend strength percentage
- Bollinger Band squeeze detection
**MTF Scanner (5 Timeframes)**
Displays for each timeframe:
- Trend direction indicator
- Market structure classification
- Visual confirmation with color coding
**Performance Metrics**
- Win rate percentage (simplified calculation)
- Total signals generated
- Current confluence score
- MTF alignment status
- Volatility level
### Settings and Customization
**Preset Styles**
Choose from predefined configurations:
- **Conservative**: Fewer, higher-quality signals
- **Moderate**: Balanced approach (recommended)
- **Aggressive**: More frequent signals
- **Scalper**: Short-term focused
- **Swing**: Longer-term oriented
- **Custom**: Full manual control
**Smart Money Concepts Controls**
- Toggle each feature independently
- Adjust swing length (3-50 periods)
- Enable/disable internal structure
- Control order block display
- Manage breaker block visibility
- Show/hide fair value gaps
- Display liquidity zones
- Premium/discount zone visualization
**Signal Configuration**
- Enable/disable confirmation signals
- Toggle strong signal markers
- Control contrarian signal display
- Show/hide reversal zones
- Smart trail activation
- Sensitivity adjustment (5-50)
**Visual Customization**
- Moving average display options
- MA period adjustments (Fast: 20, Slow: 50, Trend: 200)
- Support/resistance line toggle
- Dynamic S/R lookback period
- Candle coloring based on trend
- Color scheme customization
- Dashboard size options (Small/Normal/Large)
- Position placement (4 corners)
### How to Use
**Step 1: Initial Setup**
1. Add indicator to chart
2. Select appropriate preset or use Custom
3. Adjust timeframe to match trading style
4. Configure dashboard visibility preferences
**Step 2: Analysis Workflow**
1. Check MTF Scanner for timeframe alignment
2. Review Main Dashboard confluence score
3. Observe Market Regime classification
4. Identify active signals on chart
5. Confirm with Smart Money Concepts (order blocks, FVG, structure)
**Step 3: Trade Consideration**
Strong signals (▲+ / ▼+) require:
- Confluence score >70%
- MTF alignment >60%
- Confirmation from multiple dashboard metrics
- Support from Smart Money Concepts
- Appropriate volume levels
**Step 4: Risk Management**
- Use Smart Trail as dynamic stop-loss reference
- Consider ATR for position sizing
- Monitor volatility rating
- Respect support/resistance levels
- Combine with personal risk parameters
### Best Practices
**For Scalping (1M-5M timeframes)**
- Use Scalper preset
- Reduce swing length to 5-7
- Focus on strong signals only
- Monitor MTF alignment closely
- Quick entries near order blocks
**For Intraday Trading (15M-1H timeframes)**
- Use Moderate preset (recommended)
- Default swing length (10)
- Combine confirmation and strong signals
- Check MTF scanner before entry
- Use fair value gaps for entries
**For Swing Trading (4H-D timeframes)**
- Use Swing preset
- Increase swing length to 15-20
- Focus on strong signals
- Require high MTF alignment
- Patient approach with major structure levels
### Technical Specifications
**Indicators Used**
- Exponential Moving Averages (20, 50, 200)
- Hull Moving Average
- Relative Strength Index (14)
- MACD (12, 26, 9)
- Money Flow Index (14)
- Stochastic Oscillator (14, 3)
- ADX / DMI (14)
- Bollinger Bands (20, 2)
- ATR (14)
- Volume Analysis (SMA 20 with standard deviation)
**Calculation Methods**
- Swing detection using pivot high/low functions
- Volume confirmation via statistical analysis
- Multi-factor scoring with weighted components
- Dynamic support/resistance using highest/lowest functions
- Real-time MTF data via security() function
### Limitations and Considerations
**Important Notes**
1. This indicator is designed for educational and analytical purposes only
2. Historical performance does not guarantee future results
3. Signals should be confirmed with additional analysis
4. Market conditions vary and affect indicator performance
5. Not all signals will be profitable
6. Risk management is essential for all trading
**Known Limitations**
- Confluence scoring is algorithmic and not predictive
- MTF analysis requires sufficient historical data
- Effectiveness varies across different market conditions
- Sideways markets may produce conflicting signals
- High volatility can affect signal reliability
- Backtesting results shown are simplified calculations
**Not Suitable For**
- Automated trading without human oversight
- Sole basis for trading decisions
- Guaranteed profit expectations
- Inexperienced traders without proper education
- Trading without risk management plans
### Market Applicability
**Effective On**
- Trending markets (any direction)
- Clear structure formation periods
- Liquid instruments with consistent volume
- Multiple asset classes (forex, stocks, crypto, commodities)
- Various timeframes with appropriate settings
**Less Effective During**
- Extended ranging/choppy conditions
- Extremely low volume periods
- Major news events causing gaps
- Early market open with high spread
- Illiquid instruments with erratic price action
### Risk Disclaimer
**⚠️ IMPORTANT NOTICE**
This indicator is provided for **educational and informational purposes only**. It does not constitute financial advice, investment recommendations, or trading signals.
**Key Risk Factors:**
- Trading financial instruments involves substantial risk of loss
- Past performance does not indicate future results
- No indicator can predict market movements with certainty
- Users should conduct independent research and analysis
- Professional financial advice should be sought when appropriate
- Risk management and position sizing are critical to successful trading
- Users are solely responsible for their trading decisions
**Responsible Usage:**
- Combine with comprehensive market analysis
- Use appropriate stop-loss orders
- Never risk more than you can afford to lose
- Maintain realistic expectations
- Continue education on technical analysis principles
- Test thoroughly on demo accounts before live trading
- Understand all indicator features before using
### Educational Resources
**Understanding Smart Money Concepts**
Smart Money Concepts analyze how institutional traders and large market participants operate. Key principles include:
- Institutional order flow patterns
- Market structure changes
- Liquidity manipulation
- Supply and demand imbalances
- Order block formations
**Multi-Timeframe Analysis Theory**
Analyzing multiple timeframes helps:
- Identify overall market direction
- Improve entry timing
- Confirm trend strength
- Recognize consolidation periods
- Reduce conflicting signals
**Confluence Trading Approach**
Using multiple confirming factors:
- Increases signal reliability
- Reduces false signals
- Provides conviction for trades
- Helps with position sizing
- Improves risk-reward ratios
### Version History
**v3.0 (Current)**
- Multi-factor confluence scoring system
- Complete Smart Money Concepts implementation
- Real-time multi-timeframe analysis
- Four professional dashboard panels
- Enhanced order block detection
- Breaker block identification
- Premium/discount zone calculations
- Smart trail stop-loss system
- Customizable preset configurations
- Performance tracking metrics
**Development Philosophy**
This indicator was developed with focus on:
- Educational value for traders
- Transparent methodology
- Comprehensive feature set
- User-friendly interface
- Flexible customization options
### Technical Support
**For Questions About:**
- Indicator functionality
- Parameter optimization
- Signal interpretation
- Dashboard metrics
- Best practice recommendations
Please use TradingView's comment section below. The developer monitors comments and provides assistance to users learning to use the indicator effectively.
### Acknowledgments
This indicator implements concepts from:
- Smart Money Concepts trading methodology
- Multi-timeframe analysis techniques
- Technical indicator theory
- Market structure analysis principles
- Institutional order flow concepts
All implementations are original code and calculations based on established technical analysis principles.
---
## ADDITIONAL INFORMATION SECTION
**Category**: Indicators
**Type**: Market Structure / Multi-Timeframe Analysis
**Complexity**: Intermediate to Advanced
**Open Source**: Code visible for transparency and education
**Pine Script Version**: v6
**Chart Overlay**: Yes
**Maximum Objects**: 500 boxes, 500 lines, 500 labels
Breakout LevelsBreakout Levels - User Guide
Overview
The Breakout Levels indicator automatically detects and displays significant breakout candles across multiple timeframes. A breakout occurs when price makes a strong, decisive move - identified by candles with unusually large bodies relative to average volatility.
These breakout levels often act as future support/resistance zones, making them valuable reference points for trading decisions.
What is a Breakout?
A breakout is detected when a candle's body size (the distance between open and close) is significantly larger than normal. By default, the script looks for candles that are 2x the ATR (Average True Range) or larger.
Example:
If the 14-period ATR is $5, a candle with a $10+ body would qualify as a breakout
These represent strong, committed moves by the market
The script marks the high of bullish breakouts and the low of bearish breakouts
Settings Guide
Timeframes
Toggle which timeframes to monitor for breakouts:
Show Daily Breakouts - Green/Red levels from daily chart breakouts
Show 4H Breakouts - 4-hour timeframe breakouts
Show 1H Breakouts - 1-hour timeframe breakouts
Show 15M Breakouts - 15-minute timeframe breakouts
Tip: When running on a 15-minute chart, you can see breakouts from all higher timeframes simultaneously.
Lookback (How Far Back to Display)
Controls how many bars back to show levels for each timeframe:
TimeframeDefaultWhat it Means15M50 bars~12.5 hours of breakout history1H200 bars~8 days of breakout history4H250 bars~42 days of breakout historyDaily300 bars~300 days (nearly 1 year)
Why adjust this?
Increase to see more historical levels (may clutter chart)
Decrease to focus only on recent breakouts
Older levels are still stored, just not displayed
Detection Settings
Breakout Candle Size (x ATR)
Default: 2.0
Range: 1.0 to 5.0
What it does: Multiplier for what qualifies as a "big" candle
SettingSensitivityUse Case1.0-1.5Very sensitiveCatches more breakouts, but may include false moves2.0Balanced (default)Good mix of quality and quantity3.0-5.0Very selectiveOnly the most explosive moves
Recommendation: Start with 2.0 and adjust based on your market and trading style.
Visual Settings
Bullish Breakout Color
Default: Green with 60% transparency
Marks levels where price broke upward strongly
Bearish Breakout Color
Default: Red with 60% transparency
Marks levels where price broke downward strongly
Show Labels
Toggle labels on/off
Labels display: BO
Example: "4H BO 150.25"
Turn OFF for cleaner charts when you just want the lines
How to Use This Indicator
1. Identify Key Breakout Zones
Breakout levels often become magnets where price returns later:
Former resistance (where price broke up) becomes future support
Former support (where price broke down) becomes future resistance
2. Look for Confluence
When multiple timeframe breakouts cluster near the same price:
15M + 1H + 4H breakouts all near $150 = strong level
More confluence = more significant level
3. Watch for Retests
After a breakout, price often returns to test that level:
Bullish breakout retest from above = potential long entry
Bearish breakout retest from below = potential short entry
4. Combine with Other Analysis
Use breakout levels alongside:
Your own support/resistance analysis
Volume profiles
Fibonacci levels
Candlestick patterns at these levels
Practical Examples
Example 1: Clean Breakout and Retest
Daily candle closes up with a huge body (2.5x ATR)
Green line drawn at the high of that candle
Price pulls back 3 days later and bounces exactly off that green line
Trade opportunity: Long entry at the retest with stop below
Example 2: Failed Breakout
4H bearish breakout draws a red line at the low
Price immediately reverses back above the level
Signal: The breakout was false - consider this a stop hunt zone
Example 3: Multi-Timeframe Confluence
Daily breakout at $100
4H breakout at $100.50
1H breakout at $99.80
Strong cluster zone: $99.80-$100.50 becomes a major decision point
Best Practices
DO:
✅ Start with default settings (2.0x ATR, default lookbacks)
✅ Use on a 15-minute chart to see all timeframes
✅ Look for price reactions at these levels before trading
✅ Combine with volume - breakouts with high volume are more reliable
✅ Turn off labels when chart gets too busy
DON'T:
❌ Treat every line as guaranteed support/resistance
❌ Set breakout multiplier too low (<1.5) - creates noise
❌ Ignore the context - check what's happening in the broader market
❌ Trade blindly at these levels without confirmation
Troubleshooting
"Too many lines on my chart"
Reduce the lookback settings
Turn off some timeframes (maybe just show Daily + 4H)
Increase the breakout multiplier to 2.5 or 3.0
"Not showing any levels"
Lower the breakout multiplier to 1.5
Increase lookback settings
Check that at least one timeframe toggle is ON
Verify the market had actual volatility during the period
"Labels are cluttering the chart"
Turn off "Show Labels" in settings
Lines will remain, labels disappear
Technical Notes
ATR Period: 14 (industry standard, not adjustable in this version)
Max Lines: 500 (Pine Script limitation)
Duplicate Filter: Levels within 0.3% of ATR are considered duplicates and filtered
Chart Type: Works on any chart timeframe, optimized for 15-minute
Asset Type: Works on stocks, forex, crypto, futures
Summary
The Breakout Levels indicator gives you a systematic way to identify where strong, committed market moves occurred. These levels often act as future decision points. Use them as reference zones to watch for price reactions, not as automatic trade signals.
Quick Start:
Add indicator to a 15-minute chart
Leave default settings (2.0x ATR)
Watch how price interacts with the levels over the next few days
Adjust sensitivity based on your observations
Happy trading! 📈
CME Gap Tracker [captainua]CME Gap Tracker - Advanced Gap Detection & Tracking System
Overview
This indicator provides comprehensive gap detection and tracking capabilities for both consecutive bar gaps and weekly CME trading session gaps. It automatically detects gaps, tracks their fill progress in real-time, provides detailed statistics, and includes backtesting features to validate gap trading strategies. The script is optimized for CME futures trading but works with any instrument, automatically handling ticker conversion between CME futures and spot markets.
Gap Detection Types
Consecutive Bar Gaps:
Detects gaps between any two consecutive bars on the current timeframe. Two detection modes are available:
- High/Low Mode: Detects gaps when current bar's low > previous bar's high (gap up) or current bar's high < previous bar's low (gap down). This is more sensitive and detects more gaps.
- Close/Open Mode: Detects gaps when current bar's open > previous bar's close (gap up) or current bar's open < previous bar's close (gap down). This is more conservative.
Weekly CME Gaps:
Detects gaps between weekly trading sessions, specifically designed for CME futures markets. The script automatically detects the first bar of each new week and compares the current week's open with the previous week's close/high/low. This is particularly useful for tracking weekend gaps in CME futures markets where price can gap significantly between Friday close and Monday open.
Smart Ticker Detection
The script automatically converts between CME futures tickers (e.g., BTC1!, ETH1!) and spot tickers (e.g., BTCUSDT, ETHUSDT). When viewing a CME futures chart, it can automatically detect and use the corresponding spot ticker for gap analysis, and vice versa. This allows traders to:
- View CME futures but track spot market gaps
- View spot markets but track CME futures gaps
- Manually override with custom ticker specification
The ticker validation system uses caching to prevent race conditions during initial script load, ensuring reliable ticker resolution.
Gap Filtering & Tolerance
Static Tolerance:
Set minimum and maximum gap sizes as percentages (default: show only gaps > 0.333% and < 100%). This filters out noise and focuses on significant gaps.
Dynamic Tolerance:
When enabled, tolerance is calculated dynamically based on ATR (Average True Range). The formula: Dynamic Tolerance = (ATR × ATR Multiplier / Close Price) × 100%. This adapts to market volatility - in volatile markets, only larger gaps are shown; in calm markets, smaller gaps are displayed. This is particularly useful for instruments with varying volatility.
Absolute Size Filtering:
In addition to percentage filtering, gaps can be filtered by absolute price size (e.g., show only gaps > $100). This is useful for instruments where percentage alone doesn't capture significance (e.g., high-priced stocks).
Fill Confirmation System
To reduce false gap closure signals, the script requires multiple consecutive bars to confirm gap closure. The default is 2 bars, but can be adjusted from 1-10 bars. Lower values (1) confirm faster but may produce false signals from temporary wicks. Higher values (3-5) reduce false fill signals but delay confirmation. This prevents temporary price spikes from triggering false gap closure alerts.
Gap Fill Tracking
The script tracks gap fill progress in real-time:
- Fill Percentage: How much of the gap has been filled (0-100%)
- Fill Speed: Whether fill is accelerating, decelerating, or constant
- Time to Fill: For closed gaps, how many bars it took to fill
- Fill Status: Unfilled, partially filled, or fully filled
Visual Features
Heatmap Colors:
Gap colors can be adjusted based on gap size, with larger gaps appearing more intense and smaller gaps more faded.
Adaptive Line Width:
Line thickness automatically adjusts based on gap size, making larger gaps more prominent.
Age-Based Coloring:
Gaps can be color-coded by age, with newer gaps appearing brighter and older gaps more faded.
Confluence Zones:
Areas where multiple gaps overlap are highlighted with enhanced visuals, indicating stronger support/resistance zones.
Gap Statistics
A comprehensive statistics table provides:
- Total gaps created, open, and closed
- Fill rates by direction (up vs down) and size category (small, medium, large)
- Average fill time, fastest fill, slowest fill
- Oldest gap and oldest unfilled gap
- Backtesting results: success rate, reversal rate, average move after fill
- CME gap expiration statistics: Gaps expired unfilled (for Weekly CME gaps only)
Statistics can be filtered by period (All Time, Last 100/500/1000/5000 bars) and can be reset via toggle button.
Backtesting
When enabled, the script tracks price movement after gap fills:
- Price after fill: Captures price when gap closes
- Move after fill: Percentage price movement after closure
- Success/Reversal tracking: Determines if price continued in fill direction or reversed
- Success rate: Percentage of gaps where price continued in fill direction
This data helps validate gap trading strategies and understand gap fill behavior.
Gap Re-opening Detection
When enabled, the script detects when a previously filled gap reopens (price gaps back through the filled gap zone). This is useful for identifying when support/resistance levels break and can signal trend reversals.
CME-Specific Features
Monday Opening Volume Analysis:
For Weekly CME gaps detected on Monday openings, the script tracks Monday opening volume relative to average volume. Higher Monday volume ratios indicate stronger gap significance. This ratio is integrated into gap strength calculations and can be displayed in gap labels. Gaps with Monday volume > 1.5x average receive priority score boosts.
CME Gap Expiration Tracking:
Weekly CME gaps that remain unfilled beyond a configurable threshold (default 1000 bars) are automatically marked as "expired" and tracked separately in statistics. This helps identify gaps that act as strong support/resistance levels and never fill. Expired gaps are displayed with special labeling and counted in the "Gaps Expired (CME)" statistic.
CME Gap Priority Scoring Enhancement:
The priority scoring system includes special boosts for CME gaps:
- Monday gaps: +10 points (gaps detected on Monday openings)
- High Monday volume gaps: +15 points (Monday volume ratio > 1.5x average)
- Gaps at key weekly levels: +10 points (gaps aligning with previous week's high, low, or close within 0.5% tolerance)
These enhancements help prioritize the most significant CME gaps for trading decisions.
Custom Gap Zones
Traders can manually mark custom gap zones by specifying top and bottom levels. These zones are tracked like automatically detected gaps, allowing traders to:
- Mark historical gaps that weren't detected
- Create support/resistance zones based on other analysis
- Track specific price levels of interest
Multi-Timeframe Support
The script can detect gaps on higher timeframes simultaneously. For example, when viewing a 1-hour chart, it can also detect and display gaps from the weekly timeframe. This provides multi-timeframe context for gap analysis.
Alert System
Comprehensive alert system with multiple trigger types:
- Gap Creation: Alert when new gaps are detected
- Gap Closure: Alert when gaps are fully filled
- Partial Fill: Alert when gaps reach specific fill percentages (e.g., 25%, 50%, 75%, 90%)
- Approaching Closure: Alert when gaps reach high fill levels (e.g., 90%, 95%) before closing
- Gap Re-opening: Alert when previously filled gaps reopen
Alerts can be filtered to trigger only on Mondays (useful for CME weekly gaps) or any day.
Filtering Options
Gaps can be filtered by:
- Fill Status: Show all, unfilled only, partially filled only, or fully filled only
- Fill Percentage Range: Show gaps within specific fill percentage ranges
- Gap Age: Show only gaps within specific age ranges (bars)
- Gap Expiration: Automatically remove gaps older than specified number of bars (for Weekly CME gaps, uses separate CME expiration threshold)
Performance & Safety
The script includes several safety features:
- Safe array operations to prevent index out-of-bounds errors
- Memory leak prevention through proper visual object cleanup
- Ticker validation caching to prevent race conditions
- Week boundary detection for accurate CME gap identification
- Fill confirmation system to reduce false signals
- Monday opening volume analysis for CME gap strength assessment
- CME gap expiration tracking with configurable thresholds
- Priority scoring enhancement for Monday gaps, high Monday volume, and key weekly levels
Usage Recommendations
For CME Weekly Gaps:
1. Set "Gap Detection Type" to "Weekly CME"
2. View a CME futures chart (e.g., BTC1!) or enable auto-detect spot ticker
3. Set tolerance to filter gap size (default 0.333%)
4. Enable statistics to track fill rates
5. Configure alerts for gap creation/closure
For Consecutive Bar Gaps:
1. Set "Gap Detection Type" to "Consecutive Bars"
2. Choose "High/Low" for more gaps or "Close/Open" for fewer gaps
3. Adjust tolerance based on instrument volatility
4. Enable fill confirmation (2-3 bars) for more reliable signals
5. Use filtering to focus on specific gap types
For Gap Trading Strategies:
1. Enable backtesting to validate strategy performance
2. Review statistics to understand gap fill patterns
3. Use confluence zones to identify strong support/resistance
4. Configure alerts for gap events matching your strategy
5. Use custom zones to mark important levels
Technical Details:
• Pine Script v6 | Overlay indicator
• Safe array operations with index validation
• Memory leak prevention through proper object cleanup
• Ticker validation caching for reliable ticker resolution
• Works on all timeframes and instruments
• Comprehensive edge case handling
• Week boundary detection using ta.change(weekofyear)
• Fill confirmation system with configurable bars
For detailed documentation and usage instructions, see the script comments.
