Dilip Zone's With Price Acton Predictor

2021年1月28日

This indicator allows you to specify price zones in which to detect basic candlestick patterns.

In the example above, I have specified the most immediate support and resistance zones on Bank nifty and set the script to detect price action. If a price action occurs within the resistance zone a signal will be generated; likewise for price action within the support zone .

The purpose of this indicator is to generate trading alerts when these patterns occur in order to reduce the screen-time required to monitor setups. This indicator is intended for structure traders primarily, although it could be used by anyone who uses zones and candlestick patterns to enter trades.

If you leave either zone set to 0 then that zone will not be used, meaning that you can use this to detect both support and resistance signals, or only signals at support, or only signals at resistance.

Settings:
R1: First Resistance Price
R2: Second Resistance Price
S1: First Support Price
S2: Second Support Price

acquires potential targets by measuring the Average Change of Price from a user-defined resolution, from Open to Open. By default, the Resolution is set to 1 Day, however you can play around with Weekly, Monthly, etc. When a new resolution period begins, Dilip Zone's With Price Acton Predictor will automatically adjust based on the new Average Change of Price.

Due to the avoidance of Security() in this script, you may have to play around with the Timeframe that you use it in to ensure that you have enough bars on your chart to process the User-Defined Resolution.

Trade Manager(Given that you set the Target Multiple and Default Threshold Inputs as the same in each script), and is the most likely to be hit before the end of the resolution period.



I find, with the standard settings, it works best on the 5 minutes timeframe as shown, but again, can be used on any time frame.


For access, send me a DM on TradingView

2021年1月28日

版本注释

This indicator allows you to specify price zones in which to detect basic candlestick patterns.

In the example above, I have specified the most immediate support and resistance zones on Bank nifty and set the script to detect price action. If a price action occurs within the resistance zone a signal will be generated; likewise for price action within the support zone .

The purpose of this indicator is to generate trading alerts when these patterns occur in order to reduce the screen-time required to monitor setups. This indicator is intended for structure traders primarily, although it could be used by anyone who uses zones and candlestick patterns to enter trades.

If you leave either zone set to 0 then that zone will not be used, meaning that you can use this to detect both support and resistance signals, or only signals at support, or only signals at resistance.

Settings:
R1: First Resistance Price
R2: Second Resistance Price
S1: First Support Price
S2: Second Support Price

acquires potential targets by measuring the Average Change of Price from a user-defined resolution, from Open to Open. By default, the Resolution is set to 1 Day, however you can play around with Weekly, Monthly, etc. When a new resolution period begins, Dilip Zone's With Price Acton Predictor will automatically adjust based on the new Average Change of Price.

Due to the avoidance of Security() in this script, you may have to play around with the Timeframe that you use it in to ensure that you have enough bars on your chart to process the User-Defined Resolution.

Trade Manager(Given that you set the Target Multiple and Default Threshold Inputs as the same in each script), and is the most likely to be hit before the end of the resolution period.



I find, with the standard settings, it works best on the 5 minutes timeframe as shown, but again, can be used on any time frame.


For access, send me a DM on TradingView