FIBO ZONESThe "Fibonacci ZONES" indicator combines Fibonacci ratio-derived zones(channels), together with a Fibonacci pattern of the Previous period high/low.
Auto Fibonacci tools are powerful ways designed to simplify your technical analysis by automatically drawing Fibonacci retracement and extension levels on your chart. This indicator is built to enhance your trading experience with clearer market moves and informative insights.
You can easily spot your waves and patterns when the percentages are moving with you.
Key Features:
Automated Fibonacci Levels: Plots Fibonacci retracement and extension levels based on recent price movements.
Multi-Timeframe Support: This indicator is your versatile companion, offering multi-timeframe functionality. You can seamlessly track Fibonacci levels across different resolutions, providing a comprehensive view of the market.
Two Types of Fibs: Retracement and Timeframe extension Fibonacci levels. Use retracements to identify potential reversal points and extensions to anticipate price targets, giving you a well-rounded perspective on market movements.
Benefits:
Save Time: No more manual Fibonacci drawing; It does this for you in real-time.
Enhanced Analysis: Gain a deeper understanding of potential support, resistance, and price targets.
User-Friendly: Suitable for traders of all levels, this indicator simplifies complex technical analysis.
Breakouts from a Fibonacci Channel are also indicated by labels, indicating a potential reversal.
Each range extremity/area can also be used as support/resistance.
枢轴点和水平
MTF PIVOTSThis is a fairly basic (but hopefully useful) indicator that combines three time-frames of Camarilla pivots into one.
Default time-frames are:
Daily
Weekly
Monthly
Quarterly
Yearly
Time-frames can be modified as you wish, they are just set to these as I generally only trade higher intervals (just note that formatting labels will not change - but you can update these as needed).
The Camarilla pivots displayed are as follows:
- H3, L3, H4, L4
- CPR
- CPR Trails ( To find Virgin CPR)
- PREVIOUS HI,LOW , CLOSE
these are more useful for the majority of traders. The formula for levels.
By default all historical pivot levels are not displayed, as there can be some benefit to mapping these forward once the relevant period has ended. But these find too cluttered I'll look into having an option to display the Historical period as well.
What levels are included?
I have used traditional pivot calculation and included Daily, Weekly, Monthly, Quarterly, and Yearly pivots with high and low.
Custom Price Levels and AveragesThe "Custom Price Levels and Averages" indicator is a versatile tool designed for TradingView. It dynamically calculates and displays key price levels based on user-defined parameters such as distance percentages and position size. The indicator plots three ascending and descending price levels (A, B, C, X, Y, Z) around the last candle close on a specified timeframe. Additionally, it provides the average price for both upward and downward movements, considering the user's specified position size and increase factor. Traders can easily customize the visual appearance by adjusting colors for each plotted line. This indicator assists in identifying potential support and resistance levels and understanding the average price movements within a specified trading context.
Avoid SL hunting by acumulating your position with scaled orders.
Input Parameters:
inputTimeframe: Allows the user to select a specific timeframe (default: "D" for daily).
distancePercentageUp: Determines the percentage increase for ascending price levels (default: 1.5%).
distancePercentageDown: Determines the percentage decrease for descending price levels (default: 1.5%).
position: Specifies the position size in USD for calculating average prices (default: $100).
increaseFactor: Adjusts the increase in position size for each subsequent level (default: 1.5).
calcAvgPrice Function:
Parameters:
priceA, priceB, priceC: Ascending price levels.
priceX, priceY, priceZ: Descending price levels.
position: User-defined position size.
increaseFactor: User-defined increase factor.
Calculation:
Calculates the weighted average price for ascending (priceA, priceB, priceC) and descending (priceX, priceY, priceZ) levels.
Utilizes the specified position size and increase factor to determine the weighted average.
Plotting:
Price Calculations:
priceA, priceB, priceC: Derived by applying percentage increases to the last candle's close.
priceX, priceY, priceZ: Derived by applying percentage decreases to the last candle's close.
avgPriceUp, avgPriceDown: Computed using the calcAvgPrice function for ascending and descending levels, respectively.
Plotting Colors:
User-customizable through input parameters (colorPriceA, colorPriceB, colorPriceC, colorAvgPriceUp, colorPriceX, colorPriceY, colorPriceZ, colorAvgPriceDown).
Styling:
All lines are plotted with minimal thickness (linewidth=1) for a clean visualization.
Overall, the indicator empowers traders to analyze potential support and resistance levels and understand average price movements based on their specified parameters. The flexibility of color customization adds a layer of personalization to suit individual preferences.
Option Buying Pivot and SMA 3 Pivot crossoverThis script is designed as a visual aid for options trading specifically for option buying, providing information about potential entry points, Option levels, and trade outcomes. Here's a summary of the key elements:
1. Pivot Point and True Range:*
- The script calculates the current candle's pivot point, representing an average of high, low, and close prices from the previous candle.
- True range, a measure of volatility, is determined using the high, low, and close prices of the last two candles.
2. Option Levels:
- Downside (PutValue - Red colour line) and upside (CallValue - Green Colour line) are calculated based on the current pivot point and true range.
PutValue = currentCandlePivot + currentCandleTrueRange
CallValue = currentCandlePivot - currentCandleTrueRange
3. Simple Moving Average (SMA) of Pivot Point:
- A 3-period SMA is applied to the pivot point to smooth out fluctuations.
4. Trade Entry Logic:
- Long entry is signalled when the current pivot point is above the SMA. (longEntry = currentCandlePivot > smaPivot)
- At the time of long entry BUY THE CALL OPTION OR SELL THE PUT OPTION near the CallValue Green line
- Short entry is signalled when the current pivot point is below the SMA. (shortEntry = currentCandlePivot < smaPivot)
- At the time of Short entry BUY THE PUT OPTION OR SELL THE CALL OPTION near the PutValue Red line
The indicator having option to change the background of the candle as a green for long; and change the background of the candle as red for short. Also, Having the option to plot as label.
5. Win and Loss Logic:
- Winning conditions are assessed based on the close price relative to CallValue (for Long) and PutValue (for Short).
- Losing conditions are determined similarly.
- winLong = close > CallValue and longEntry
- winShort = close < PutValue and shortEntry
-lossLong = close < CallValue and longEntry
-lossShort = close > PutValue and shortEntry
The indicator having option to change the background of the candle as a green for win; and change the background of the candle as red for loss. Also, Having the option to plot as label.
6. Background Coloring and Plots:
- The script uses background colors to highlight Long, Short, Win, and Loss scenarios.
- Shapes and labels are plotted on the chart to visually represent entry points, stop-loss levels, and trade outcomes.
The overall purpose is to provide traders with a clear visual representation of potential trading opportunities and outcomes, helping them make informed decisions in the options market.
Breakout Detector (Previous MTF High Low Levels) [LuxAlgo]The Breakout Detector (Previous MTF High Low Levels) indicator highlights breakouts of previous high/low levels from a higher timeframe.
The indicator is able to: display take-profit/stop-loss levels based on a user selected Win/Loss ratio, detect false breakouts, and display a dashboard with various useful statistics.
Do note that previous high/low levels are subject to backpainting, that is they are drawn retrospectively in their corresponding location. Other elements in the script are not subject to backpainting.
🔶 USAGE
Breakouts occur when the price closes above a previous Higher Timeframe (HTF) High or below a previous HTF Low.
On the advent of a breakout, the closing price acts as an entry level at which a Take Profit (TP) and Stop Loss (SL) are placed. When a TP or SL level is reached, the SL/TP box border is highlighted.
When there is a breakout in the opposite direction of an active breakout, previous breakout levels stop being updated. Not reaching an SL/TP level will result in a partial loss/win,
which will result in the box being highlighted with a dotted border (default). This can also be set as a dashed or solid border.
Detection of False Breakouts (default on) can be helpful to avoid false positives, these can also be indicative of potential trend reversals.
This indicator contains visualization when a new HTF interval begins (thick vertical grey line) and a dashboard for reviewing the breakout results (both defaults enabled; and can be disabled).
As seen in the example above, the active, open breakout is colored green/red.
You can enable the setting ' Cancel TP/SL at the end of HTF ', which will stop updating previous TP/SL levels on the occurrence of a new HTF interval.
🔶 DETAILS
🔹 Principles
Every time a new timeframe period starts, the previous high and low are detected of the higher timeframe. On that bar only there won't be a breakout detection.
A breakout is confirmed when the close price breaks the previous HTF high/low
A breakout in the same direction as the active breakout is ignored.
A breakout in the opposite direction stops previous breakout levels from being updated.
Take Profit/Stop Loss, partially or not, will be highlighted in an easily interpretable manner.
🔹 Set Higher Timeframe
There are 2 options for choosing a higher timeframe:
• Choose a specific higher timeframe (in this example, Weekly higher TF on a 4h chart)
• Choose a multiple of the current timeframe (in this example, 75 minutes TF on a 15 min chart - 15 x 5)
Do mind, that when using this option, non-standard TFs can give less desired timeframe changes.
🔹 Setting Win/Loss Levels
The Stop Loss (SL) / Take Profit (TP) setting has 2 options:
W%:L% : A fixed percentage is chosen, for TP and SL.
W:L : In this case L (Loss-part) is set through Loss Settings , W (Win-part) is calculated by multiplying L , for example W : L = 2 : 1, W will be twice as large as the L .
🔹 Loss Settings
The last drawing at the right is still active (colored green/red)
The Loss part can be:
A multiple of the Average True Range (ATR) of the last 200 bars.
A multiple of the Range Cumulative Mean (RCM).
The Latest Swing (with Length setting)
Range Cumulative Mean is the sum of the Candle Range (high - low) divided by its bar index.
🔹 False Breakouts
A False Breakout is confirmed when the price of the bar immediately after the breakout bar returns above/below the breakout level.
🔹 Dashboard
🔶 ALERTS
This publication provides several alerts
Bullish/Bearish Breakout: A new Breakout.
Bullish/Bearish False Breakout: False Breakout detected, 1 bar after the Breakout.
Bullish/Bearish TP: When the TP/profit level has been reached.
Bullish/Bearish Fail: When the SL/stop-loss level has been reached.
Note that when a new Breakout causes the previous Breakout to stop being updated, only an alert is provided of the new Breakout.
🔶 SETTINGS
🔹 Set Higher Timeframe
Option : HTF/Mult
HTF : When HTF is chosen as Option , set the Higher Timeframe (higher than current TF)
Mult : When Mult is chosen as Option , set the multiple of current TF (for example 3, curr. TF 15min -> 45min)
🔹 Set Win/Loss Level
SL/TP : W:L or W%:L%: Set the Win/Loss Ratio (Take Profit/Stop Loss)
• W : L : Set the Ratio of Win (TP) against Loss (SL) . The L level is set at Loss Settings
• W% : L% : Set a fixed percentage of breakout price as SL/TP
🔹 Loss Settings
When W : L is chosen as SL/TP Option, this sets the Loss part (L)
Base :
• RCM : Range Cumulative Mean
• ATR : Average True Range of last 200 bars
• Last Swing : Last Swing Low when bullish breakout, last Swing High when bearish breakout
Multiple : x times RCM/ATR
Swing Length : Sets the 'left' period ('right' period is always 1)
Colours : colour of TP/SL box and border
Borders : Style border when breakout levels stop being updated, but TP/SL is not reached. (Default dotted dot , other option is dashed dsh or solid sol )
🔹 Extra
Show Timeframe Change : Show a grey vertical line when a new Higher Timeframe interval begins
Detect False Outbreak
Cancel TP/SL at end of HTF
🔹 Show Dashboard
Location: Location of the dashboard (Top Right or Bottom Right/Left)
Size: Text size (Tiny, Small, Normal)
See USAGE/DETAILS for more information
Market Pivot Levels [Past & Live]Market Levels provide a robust view of daily pivot points of markets such as high/low/close with both past and live values shown at the same time using the recently updated system of polylines of pinescript.
The main need for this script arose from not being able to use plots for daily points because plots are inherently once drawn can't be erased and because we can't plot stuff for previous bars after values are determined we can't use them reliably. And while we can use traditional lines, because we would have extremely high amount of lines and we would have to keep removing the previous ones it wouldn't be that effective way for us. So we try to do it with the new method of polylines .
Features of this script:
- Daily High/Low Points
- Yesterday High/Low/Close Points
- Pre-Market High-Low points.
Now let's preview some of the important points of code and see how we achieve this:
With the code below we make sure no matter which chart we are using we are getting the extended hours version of sessions so our calculations are made safely for viewing pre-market conditions.
// Let's get ticker extended no matter what the current chart is
tc = ticker.new(syminfo.prefix, syminfo.ticker, session.extended)
Coding our own function to calculate high's and low's because inbuilt pinescript function cannot take series and we send this function to retrieve our high's and lows.
// On the fly function to calculate daily highlows instead of tv inbuilt because tv's length cannot take series
f_highlow(int last) =>
bardiff = last
float _low = low, float _high = high
for i = bardiff to 0 by 1
if high > _high
_high := high
if low < _low
_low := low
With doing calculations at the bars of day ending points we can retrieve the correct points and values and push them for our polylines array so it can be used in best way possible.
// Daily change points
changeD = timeframe.change("D")
// When new day starts fill polyline arrays with previous day values for polylines to draw on chart
// We also update prevtime values with current ones after we pushed to the arrays
if changeD
f_arrFill(cpArrHigh, cpArrLow, prevArrh, prevArrl, prevArrc, prevMarh, prevMarl)
valHolder.unshift(valueHold.new(_high, _low, _high, _close, _low, time, pr_h, pr_l))
The rest of the code is annotated and commented. You can let me know in comments if you have any questions. Happy trading.
IchiBot - [SigmaStreet]
The IchiBot Indicator has been used to develop automated trading systems. It leverages the open-source Ichimoku framework provided by Trading View, to enable users to creatively generate over 1 trillion different combinations of trading conditions with the use of multiple timeframes to create unique “signal labels” that can be used to create custom strategies or provide in depth market analysis. At the end of this description, I have provided an example of input settings for a simple scalping strategy that I have back tested on US30 on the 5 minute timeframe.
Overview of the Settings:
The visuals section includes an option to show or hide certain parts of the indicator and change the size of the signal labels plotted on the chart.
Next to the “Signal color on baseline/candles” section, you can choose if you want to see additional signals generations from the most previous plotted label on a color changing baseline, or color changing candles. A color change from gray to blue/red indicate that the conditions from the most previously plotted signal label have been met again.
The next 5 sections are all related to the strategy portion of the indicator, used to aid in the back testing process. These sections are titled “Stop loss”, “Take Profit”, “Trail Stop”, “Trade Settings” and “Trade Schedule”.
The Stop Loss section includes an option to choose between value of “pts”, “atr” (average true range) or “None”. The stop loss value in “pts” is simply a specified number of points or pips from the current entry price of a trade that are input in the “SL” section. If the stop loss type is “atr” the “SL” section is not used and the value is calculated and displaced from the current entry price of a trade based on the atr period multiplied by the atr multiplier.
The take profit section is based on the same logic as the stop loss.
The Trail Stop section includes an option to choose between values “pts” or “None”. If the Trail Stop value is “pts”, a trailing stop loss is activated if a trade moves a point value into profit that exceeds the value of the “Trail Activation”. If the Trail Offset type is “pts”, the trailing stop loss is placed a point value away from the current price that is equal to the “Trail Offset” value.
The trade settings section has two options to either prevent or allow trade reversals and prevent or allow only 1 trade per signal label.
If the “Don’t allow trade reversals” is on, then a currently active trade can not be cancelled by an opposite trade signal. It can only be cancelled by the exit logic selected in the above sections. If the “One trade per signal” is selected, the strategy will only enter a trade if the most recent signal label is different from the last signal label where a trade was entered, or if the most recent signal label is in the opposite direction of the most recent signal label where a trade was entered.
The trade schedule section includes an option to only generate signal labels during the specified time. You can choose between 24/7 which will generate signals without any time restriction, or you can choose a custom time which is based on the America / New York time zone.
The timeframe settings section includes an option to choose “single” or “multiple” timeframes, as well as an option to show every signal label combination (“all”), or only the signal labels with the highest numerical value (“absolute”).
If you select “single” next to “timeframe”, the indicator will show you labels based on trade conditions met from only 1 selected timeframe. If you select “multiple” next to “timeframe”, the indicator is designed to return signal labels based on trade conditions that have been met on at least 2 different timeframes.
If you select “multiple” and “use current timeframe”, the indicator will include labels that always include a minimum of 2 timeframes where 1 timeframe is always the current timeframe. If you unselect the “use current timeframe”, the indicator will include labels with a minimum of 2 timeframes.
If you select “multiple” next to “timeframe” and “all” next to “Show all/absolute labels”, the indicator will show you every possible combination of labels that vary from trade conditions met on a minimum of 2 timeframes, to the maximum number of timeframes selected.
If you select “multiple” next to “timeframe” and “absolute” next to “Show all/absolute labels”, the indicator will only show you labels where the numerical value is equivalent to the maximum number of timeframes selected.
Each signal label provides a number which refers to the number of timeframes used to generate the label, offering insights briefly. Hover over a label to reveal detailed tooltip information that details the exact timeframes used to generate each label.
You can choose all from “Show all/absolute labels” to see every possible combination of trade signals or “absolute” to only see labels that have the highest possible numerical value. Absolute means that every condition selected from every timeframe was calculated to be true at the same time on the same candle.
The next 8 sections are “Current timeframe trade conditions”, “1-minute timeframe trade conditions”, “5-minute timeframe trade conditions”, “15-minute timeframe trade conditions”, “30-minute timeframe trade conditions”, “1-hour timeframe trade conditions”, “4-hour timeframe trade conditions”, “Daily timeframe trade conditions”.
These sections include the same 10 trade conditions, that can be used independently, or in combination with each other. This brings the total number of trade conditions to 70.
The final section includes a standard option to adjust the current Ichimoku values.
Understanding the Calculations:
The term “future” refers to a value that is calculated 26 candles to the right of the most recent closing price.
The term “current” refers to a value that is calculated on the most recent closing price.
The term “past” refers to a value that is calculated 26 candles to the left of the most recent closing price.
Bullish is referred to as “blue” and bearish is referred to as “red”.
Buy Signals:
1. The current closing price is greater than the current cloud value.
2. The future cloud is blue.
3. The current closing price is greater than the current conversion line.
4. The current conversion line is greater than the current baseline.
5. The lagging span is greater than the closing price of the last 25 candles.
6. The lagging span is greater than the past cloud.
7. The lagging span is greater than the past conversion line and the past baseline.
8. The current conversion line is greater than the current cloud.
9. The current baseline is greater than the current cloud.
10. The value of the current cloud to the future cloud is completely blue.
Sell Signals:
1. The current closing price is less than the current cloud value.
2. The future cloud is red.
3. The current closing price is less than the current conversion line.
4. The current conversion line is less than the current baseline.
5. The lagging span is less than the closing price of the last 25 candles.
6. The lagging span is less than the past cloud.
7. The lagging span is less than the past conversion line and the past baseline.
8. The current conversion line is less than the current cloud.
9. The current baseline is less than the current cloud.
10. The value of the current cloud to the future cloud is completely red.
The script enables users to access the value of these 10 trade conditions across the 7 major time frames (1-minute, 5-minute, 15-minute, 30-minute, 1-hour, 4-hour, Daily, and the current charts time frame) by using the official non repainting request security function provided by Trading View:
f_secSecurity(_src, _res, _exp) =>
request.security(_src, _res, _exp )
This indicator provides up to 70 variables (10 variables X 7 timeframes) that can be used separately, or in combination to generate signal labels.
Enhance your visual analysis with a color-changing baseline and candle colors that adapt to signal shifts, offering an immediate understanding of market trends. The base line will change from gray to blue/red which will reference the most previously plotted signal label. This change in color indicate that the conditions from the most recently plotted signal label have been met once again. Please refer to the example below.
Adjustments to the Ichimoku Indicator:
The script uses a slightly refined version of the Ichimoku indicator to calculate 10 different “trade conditions”. Each trade condition can create 1 bullish signal label and 1 bearish signal label. The calculations are primarily based on “greater than and less than logic” which is standard for signal generation.
In the original Ichimoku calculations, the “Lagging Span” has a default value of 26 periods. In the actual calculations, this input with the title “Lagging Span” is referred to as the “displacement”. When the lagging span is plotted on the chart, it is plotted with an offset value of offset = -displacement + 1 which technically plots the lagging span 25 candles to the left the most recent candle (if you count the most recent closing price as 0 and not 1). The clouds are plotted with an offset of offset = displacement -1 which technically plots the clouds 25 candles to the right of the most recent candle.
I have adjusted the logic of the Ichimoku indicator so the lagging span is still plotted 25 candles to the left of the most recently confirmed candle close, but the cloud is plotted 26 candles to the right of the most recent confirmed candle close.
This seemingly small adjustment of one candle cannot simply be adjusted in the settings of the original Ichimoku indicator since the calculations of the cloud and lagging span displacements are directly affected by the same value (displacement = 26, also known as the “lagging span”). My script is adjusted to make calculations where the lagging span is 25 candles to the left of the most recent candle, and the cloud is displaced 26 candles to the right of the most recent candle.
For example, my scripts logic to detect if the current closing price is over the current cloud is (close > leadLead1 and close > leadLine2 and leadLine1 > leadLine2 . By using a lookback of , the logic assumes that the displaced value is 26 bars to the right of the most recent candle. My script also reflects this logic in the plotted values of the cloud where the offset values are offset = displacement. This adjustment is made without affecting any other part of the Ichimoku indicators calculations, only the displacement of the cloud which directly affects the logic of trade conditioins. This change is a deliberate and necessary function of this script’s logic to generate trade conditions and signal labels.
I’ve removed the conversion line and the lagging span and introduced a 26-period pivot high/low to provide a less cluttered chart. The pivot high/low looks 26 periods to the left and only 1 period to the right. The lagging span and conversion line logic is still built into the framework of the trading signals. If you choose to enable the lagging span, or conversion line.
trading approach, and always test your strategies thoroughly.
The function to generate the "Signal Labels" calculates every single possible combination of the 7 different timeframes which is a total of 127 combinations for bullish signal labels, and 127 combinations for bearish signal labels. This function also provides the necessary criteria for the strategy entry conditions, based on the dynamically calculated values derived from the signal labels themselves. For example: "buy signal on 1 minute and 5 minute timeframe" is considered 1 combination, and "Buy signal on current, 5 minute, 15 minute, 30 minute, 1 hour, 4 hour and daily timeframe" is also considered 1 combination. There are a total of 254 combinations between buy and sell signal labels along with 254 individual variables with their own unique tool tip description. The signal label function alone spans over 1340 lines of code (minus spaces and comments) to specifically account for every possible variable combination. This unique and original function also calculates the signal label "value" which is the number you see on the signal label. This function adjusts the amount of labels plotted, the value and description of all labels based on the timeframe settings "single"/"multiple", the use of "use current timeframe" setting, and the "trade schedule". This signal label function has been a landmark piece of code for me in my endeavor to create and optimize my strategies based on its ability to provide an in depth analysis of the timeframes used when generating signal labels. This function is main reason that this script has been published closed source.
Back tested results.
The current results are from US30 (Dow Jones Industrial Average CFD) on the 5-minute timeframe using regular candles. The inputs are as follows:
Stop loss = 5000 pts
No take profit.
Trail activation = 100 pts
Trail offset = 100 pts
Don’t allow trade reversals
Trade 24/7
Timeframe = multiple
Show absolute signals
Use current timeframe, lag span over/under candles
Use 30m timeframe, all cloud is bull/bear
Initial capital = $10,000 USD, 1 contract, $0.07 per contract, slippage = 3 ticks, use bar magnifier = on
Timeframe = June 1st, 2023 – November 10th, 2023, risk = 5% (greatest loosing trade = $500.44)
BUY/SELL RSI FLIUX v1.0The "BUY/SELL RSI FLUX v1.0" indicator is designed to provide buy and sell signals based on the RSI (Relative Strength Index) and price action in relation to support and resistance levels. It overlays directly on the price chart and includes the following components:
- Support and Resistance Levels: Determined over a specified number of bars (lengthSR), these levels represent potential barriers where price action may stall or reverse.
- ATR (Average True Range): Used to measure market volatility. While it's calculated in the script, it's not visualized on the chart as per the latest modification.
- RSI: The RSI is calculated over a defined period (lengthRSI) and is used to identify overbought or oversold conditions. Buy signals are generated when the RSI is below the oversold threshold (rsiOversold) and the price is above the support level. Conversely, sell signals occur when the RSI is above the overbought threshold (rsiOverbought), the price is below the resistance level, and additionally, the price is below a long-term moving average, which acts as a trend filter.
- Long-Term Moving Average: This moving average is plotted to help identify the prevailing market trend. Sell signals are filtered based on the price's position in relation to this moving average.
- Buy/Sell Signals: Visual representations in the form of shapes are plotted below (for buy) or above (for sell) the price bars to indicate potential entry points.
By combining these elements, the indicator aims to provide high-probability trading signals that align with both the market's momentum and trend.
Pivot PointsDescription:
The Pivot Point indicator is designed to identify potential entry and exit points based on pivot points and manually tracks the average entry price and position size without executing actual trades, allowing for a visual simulation of pyramiding strategies.
Inputs for Customization:
i_leverage: User-defined leverage for trades.
i_takeProfit: Percentage for taking profit, adjusted by leverage.
i_dca: Percentage for dollar-cost averaging (DCA) when the price is a certain percentage below the entry, adjusted by leverage.
i_pivotFactor: Factor used to calculate the entry price from the pivot points.
i_pivotLength: The length of the lookback period to calculate the highest and lowest pivot points.
Usage Tips:
This indicator can be use by itself to provide entry and exit signals based on pivot points that will be generated from the provided `Pivot Factor`. An input of 1 will be the same as no factor.
This indicator can also be used as an input source for other indicators to facilitate other ideas.
SPX Daily Probability Predictor_MFCDescription:
The SPX Daily Probability Predictor is a powerful trading indicator designed exclusively for TradingView, providing traders with valuable insights into the potential movement of the S&P 500 index (SPX) on a daily basis. This indicator utilizes a sophisticated calculation method based on historical price movements, including gaps, to estimate the probability of the index's future direction.
Key Features:
Daily Probability Calculation:
The indicator calculates the daily probability of the SPX movement by analyzing the standard deviation of historical price changes. This statistical approach offers a comprehensive understanding of the market's volatility and aids traders in making more informed decisions.
Historical Movement Inclusion:
Unlike traditional indicators that only consider the closing prices, the SPX Daily Probability Predictor goes a step further by incorporating the full spectrum of daily movements, including gaps. This inclusive approach provides a more accurate representation of market dynamics, enhancing the reliability of the probability predictions.
Real-Time Analysis:
Stay ahead of the market with real-time analysis that adapts to the current trading session. The SPX Daily Probability Predictor dynamically adjusts its calculations throughout the trading day, ensuring that traders receive the most up-to-date and relevant information for their decision-making process.
Customizable Parameters:
Tailor the indicator to your trading preferences with customizable parameters. Adjust the lookback period or fine-tune other settings to align the probability predictions with your individual trading strategy.
By incorporating historical price movements, including gaps, and employing statistical analysis to calculate daily probabilities, the SPX Daily Probability Predictor equips traders with a valuable tool for anticipating potential market directions. Whether you are a seasoned investor or a newcomer to the world of trading, this indicator provides actionable insights that can contribute to more informed decision-making in the dynamic environment of the stock market.
Upcoming Enhancements:
Please note that while the SPX Daily Probability Predictor currently offers a robust set of features for daily market analysis, we are committed to continuous improvement and the development of additional functionalities. In future updates, users can look forward to exciting enhancements, including the capability to forecast future probabilities of market movements. This forward-looking feature will provide traders with a valuable glimpse into potential trends, aiding in more proactive decision-making.
Furthermore, we are actively working on expanding the indicator's scope to accommodate different time frames. Soon, traders will have the option to obtain probability data not only on a daily basis but also for monthly or weekly intervals. This extended flexibility allows for a more comprehensive analysis, catering to various trading styles and preferences.
As we strive to create a versatile and powerful tool for the TradingView community, we welcome user feedback and suggestions for additional features. Your insights play a crucial role in shaping the future evolution of the SPX Daily Probability Predictor, ensuring it remains a valuable asset in the dynamic landscape of financial markets. Stay tuned for updates as we continue to enhance and refine this innovative trading indicator.
Demand and Supply Zones Pro [Afnan]Are you looking to level up your trading game and spot potential turning points in the stock market? Introducing the Smart Money Demand and Supply Zones indicator, a powerful tool designed to identify opportunities created by the Smart money.
The Smart Money Demand and Supply Zones indicator is built upon the principles of Rally Base Rally (RBR), Rally Base Drop (RBD), Drop Base Rally (DBR), Drop Base Drop (DBD).
🔍 Key Details 🔍
The "Smart Money" concept refers to large institutional investors and professional traders who possess significant financial resources and expertise. The importance of smart money lies in their influence on market trends and price movements. Their actions and positions often serve as signals for retail traders and investors to make informed decisions.
Formation of Smart Money: Smart money is attracted to areas in the market where they can find favourable risk-to-reward opportunities.
1. Rally Base Rally (RBR) Zones: These zones occur after a rally (upward price movement), followed by a period of consolidation (base formation), and then another rally. Smart money often forms positions here as it suggests a strong uptrend continuation.
2. Rally Base Drop (RBD) Zones: In this case, there is a rally, followed by a base formation, but instead of another rally, the price drops. Smart money may position themselves here in anticipation of a potential trend reversal.
3. Drop Base Rally (DBR) Zones: These zones form when there is a drop in price, followed by a base formation, and then a rally. Smart money may take positions here, expecting a trend reversal to the upside.
4. Drop Base Drop (DBD) Zones: In this scenario, the price drops, then forms a base, but subsequently continues to drop. Smart money might take bearish positions here, anticipating further downward movement.
🚀 Pending Orders from Smart Money Zones: 🚀
When the price approaches these smart money zones, institutional investors often place remaining pending orders to enter the market.
By identifying RBR/DBR zones as potential buying opportunities and RBD/DBD zones as potential selling opportunities on price charts, retail traders can align their trades with smart money activities. Implementing proper risk management and confirming signals enhances the likelihood of successful trades by following the footsteps of institutional investors.
💡 Key Features of the Indicator 💡
This indicator includes the following features:
Customizable Zone Length: Adjust the number of base candles in a zone to suit your preferences and strategy.
Candle Body Size Customization: Personalize the body size of candles for fine-tuning visual representation.
Alert Feature: The alert feature can notify you when the price reaches a demand or supply zone, with the ability to customize the risk-to-reward parameters.
Base Candle Selection: Choose between the body of the candle or narrow range candles as the base candle for zone plotting.
Colour Customization For Candles: Customize Drop, Base, Rally, and Zone colours to match your visual preferences.
Number of Zones: This feature is flexible, allowing you to customize the quantity of zones displayed on the chart for improved visibility.
Zone Colours: You have the option to personalize the colours for both fresh and tested zones based on your preferences.
Zone Strength Customization: Adjust candle sensitivity for better control.
Swing High and Swing Low: Enable or disable support and demand lines based on Swing High and Swing Low.
Wick of Candle: Customize zone plotting using the body or wicks of candles for flexible analysis.
Previous Zones: You can choose to display or disable previous zones on the chart that have been deleted and utilized before. This option helps you maintain a clutter-free chart while retaining valuable historical information.
Moving Averages: Utilize four (4) customizable Moving Averages to enhance analysis from any time frame.
💎 Employing a Top-Down Approach and Multiple Time Frame Analysis: 💎
Let's delve into the concept of adopting a top-down approach combined with multiple time frame analysis in trading scenarios. It is consistently recommended to trade with the trend because, as the saying goes, "the trend is your friend." If you identify a demand zone on the chart but the overall trend is downward, it's crucial to confirm the stock's trend in higher timeframes. Avoid purchasing from the demand zone in such a scenario as you would be going against the trend. To consider buying from the demand zone, ensure that the overall trend is upward by checking the higher timeframe.
Similarly, if the higher timeframe trend is upward but the price is approaching a higher timeframe supply zone, refrain from buying in the lower timeframe. If the price reaches a higher timeframe supply zone, there is a likelihood that the price will face rejection from this zone.
If the price is significantly extended from the EMA 20 on a higher timeframe, for instance, if you plan to trade on a 30-minute timeframe and the price is considerably extended from the daily EMA 20, consider trading from zones that are closer to the daily EMA 20. When the price is extended from the higher timeframe EMA 20, it implies that the price is expensive, and there may be a tendency for it to return to the EMA 20. Therefore, it is advisable to trade from zones that are closer to the higher timeframe EMA 20 and avoid zones that are extended from the higher timeframe EMA 20.
For instance, imagine you're considering purchasing a stock that has reached a demand zone known as Rally Base Rally (RBR). If you identify a corresponding demand zone in a higher time frame located at the same position, and concurrently observe that the intermediate time frame indicates an upward trend, your potential for a successful trade is enhanced.
Conversely, if you spot a buying zone in a lower time frame, but notice a supply zone in the higher time frame at that exact position, the likelihood of a profitable trade decreases significantly. In such cases, it's prudent to steer clear of the lower time frame zone. This emphasizes the critical significance of employing a top-down approach or conducting a multiple time frame analysis.
Note: By Doing top down approach you can easily follow the footprints of smart money in the stock market or any other market by using this indicator and make well-informed trading decisions.
Remember, don't make decisions based only on one time frame. Check the overall trend of the stock and look at buying and selling points on bigger time scales. If you only use one time scale, your chances of making successful trades will be lower.
💎 To execute these comprehensive analyses and optimize your trading outcomes, you can make use of my indicator called "Demand & Supply Zone Scoring: Rally Base & Drop Concept."💎
This indicator is thoughtfully crafted to assess the strength of trade setups based on demand and supply zones through a scoring mechanism. It serves as your guide for correct top-down and multiple time frame analysis, eliminating the possibility of overlooking any strategic parameters. To gain deeper insights, you can learn more about how to use this indicator in its description.
Lastly, Thank you for your support, your likes & comments." Feel free to ask if you have questions.
Let's conquer the markets together! 🚀
Bar Retracement Do you love Fibonacci ratios/levels? Have you ever thought to apply them to individual bars? If you are not familiar with these ratios and their significance, you can read about them here: www.investopedia.com
This simple indicator applies Fibonacci levels on the previous bar. This enables the quick determination of how far the current bar retraced relative to the precious one. Key levels are highlighted in yellow, orange, and red. You can choose to set an alert for "Large Retracements". This can be very useful for ending trades and avoiding full price reversals. There are other insights that can be gleaned as well.
Happy trading...
Session Fibonacci Levels [QuantVue]The "Session Fibonacci Levels" indicator is a powerful tool designed for traders who aim to use Fibonacci retracement and extension levels in their trading strategy.
The indicator combines Fibonacci levels with customized trading sessions, allowing traders to observe and utilize Fibonacci levels that are automatically calculated for each defined session.
This approach offers a dynamic and session-relevant perspective on potential support and resistance levels, which can be crucial for intraday trading strategies.
🔹The indicator calculates Fibonacci retracement and extension levels based on the high and low prices of a specified trading session, dynamically adjusting to the location of the high and low bar.
If the low of the session occurs before the high, the fib levels are measured from low to high.
If the low of the session occurs after the high, the fib levels are measured from high to low.
🔹Users can set their time zone and define trading sessions, allowing for flexibility and applicability across global markets. This is particularly beneficial for traders who focus on specific market hours like the London or New York sessions.
Important sessions:
New York (8:00am - 5:00pm EST)
London (3:00am - 12:00pm EST)
Asia (7:00pm - 4:00am EST)
Custom session (user defined session in indicator settings)
🔹The indicator dynamically updates Fibonacci levels as new highs and lows are made within the session, keeping the analysis current. Additionally, it provides alerts when prices hit key Fibonacci levels, aiding in timely decision-making.
How to Use:
Configure the time zone and session time
Once the session begins, the indicator will begin highlighting the session range
When the session ends, Fibonacci levels based on the high and low of the session will be drawn
Use these levels to identify potential support and resistance areas
High and low of last D, W, 4W and quaterThis script shows you the Highs and Lows from multiple candels from some different timeframes. They are the 1D, 1W, 4W (a month basically), and 3M (a quater). The indicator offery you many customization option to make it look how you like it best
Liquidations Meter [LuxAlgo]The Liquidation Meter aims to gauge the momentum of the bar, identify the strength of the bulls and bears, and more importantly identify probable exhaustion/reversals by measuring probable liquidations.
🔶 USAGE
This tool includes many features related to the concept of liquidation. The two core ones are the liquidation meter and liquidation price calculator, highlighted below.
🔹 Liquidation Meter
The liquidation meter presents liquidations on the price chart by measuring the highest leverage value of longs and shorts that have been potentially liquidated on the last chart bar, hence allowing traders to:
gauge the momentum of the bar.
identify the strength of the bulls and bears.
identify probable reversal/exhaustion points.
Liquidation of low-leveraged positions can be indicative of exhaustion.
🔹 Liquidation Price Calculator
A liquidation price calculator might come in handy when you need to calculate at what price level your leveraged position in Crypto, Forex, Stocks, or any other asset class gets liquidated to add a protective stop to mitigate risk. Monitoring an open position gets easier if the trader can calculate the total risk in order for them to choose the right amount of margin and leverage.
Liquidation price is the distance from the trader's entry price to the price where trader's leveraged position gets liquidated due to a loss. As the leverage is increased, the distance from trader's entry price to the liquidation price shrinks.
While you have one or several trades open you can quickly check their liquidation levels and determine which one of the trades is closest to their liquidation price.
If you are a day trader that uses leverage and you want to know which trade has the best outlook you can calculate the liquidation price to see which one of the trades looks best.
🔹 Dashboard
The bar statistics option enables measuring and presenting trading activity, volatility, and probable liquidations for the last chart bar.
🔶 DETAILS
It's important to note that liquidation price calculator tool uses a formula to calculate the liquidation price based on the entry price + leverage ratio.
Other factors such as leveraged fees, position size, and other interest payments have been excluded since they are variables that don’t directly affect the level of liquidation of a leveraged position.
The calculator also assumes that traders are using an isolated margin for one single position and does not take into consideration the additional margin they might have in their account.
🔹Liquidation price formula
the liquidation distance in percentage = 100 / leverage ratio
the liquidation distance in price = current asset price x the liquidation distance in percentage
the liquidation price (longs) = current asset price – the liquidation distance in price
the liquidation price (shorts) = current asset price + the liquidation distance in price
or simply
the liquidation price (longs) = entry price * (1 – 1 / leverage ratio)
the liquidation price (shorts) = entry price * (1 + 1 / leverage ratio)
Example:
Let’s say that you are trading a leverage ratio of 1:20. The first step is to calculate the distance to your liquidation point in percentage.
the liquidation distance in percentage = 100 / 20 = 5%
Now you know that your liquidation price is 5% away from your entry price. Let's calculate 5% below and above the entry price of the asset you are currently trading. As an example, we assume that you are trading bitcoin which is currently priced at $35000.
the liquidation distance in price = $35000 x 0.05 = $1750
Finally, calculate liquidation prices.
the liquidation price (longs) = $35000 – $1750 = $33250
the liquidation price (short) = $35000 + $1750 = $36750
In this example, short liquidation price is $36750 and long liquidation price is $33250.
🔹How leverage ratio affects the liquidation price
The entry price is the starting point of the calculation and it is from here that the liquidation price is calculated, where the leverage ratio has a direct impact on the liquidation price since the more you borrow the less “wiggle-room” your trade has.
An increase in leverage will subsequently reduce the distance to full liquidation. On the contrary, choosing a lower leverage ratio will give the position more room to move on.
🔶 SETTINGS
🔹Liquidations Meter
Base Price: The option where to set the reference/base price.
🔹Liquidation Price Calculator
Liquidation Price Calculator: Toggles the visibility of the calculator. Details and assumptions made during the calculations are stated in the tooltip of the option.
Entry Price: The option where to set the entry price, a value of 0 will use the current closing price. Details are given in the tooltip of the option.
Leverage: The option where to set the leverage value.
Show Calculated Liquidation Prices on the Chart: Toggles the visibility of the liquidation prices on the price chart.
🔹Dashboard
Show Bar Statistics: Toggles the visibility of the last bar statistics.
🔹Others
Liquidations Meter Text Size: Liquidations Meter text size.
Liquidations Meter Offset: Liquidations Meter offset.
Dashboard/Calculator Placement: Dashboard/calculator position on the chart.
Dashboard/Calculator Text Size: Dashboard text size.
🔶 RELATED SCRIPTS
Here are some of the scripts that are related to the liquidation and liquidity concept, for more and other conceptual scripts you are kindly invited to visit LuxAlgo-Scripts .
Liquidation-Levels
Liquidations-Real-Time
Buyside-Sellside-Liquidity
Market Structure (Breakers) [LuxAlgo]The Market Structure (Breakers) indicator aims to detect "Breaker Market Structures", an original concept inspired by breaker blocks, and extend on the original concept of market structures by extending existing MS levels, providing supports/resistances as a result.
Various graphical elements are included that highlight the interactions between price and Breaker structures.
🔶 USAGE
Breaker structures occur when a market structure is confirmed (price breaking a previous swing level). The broken swing point is extended by a dotted line which can be used as potential support or resistance.
After a market structure, the price can eventually reverse and break one or multiple breaker structures at the same time, allowing for the detection of new trends in the price.
A market structure closer to the top/bottom of a trend can return Breaker structures breakouts more indicative of potential reversals.
Breakers MS breakouts can also be useful as exits for entries done using market market structures.
The script additionally highlights support/resistance events by highlighting candle borders, with a border using a green color indicating support events while a red color is indicative of a resistance event.
🔹 Breaker Structure Lifespan
The "lifespan" of Breaker structures, that is the amount of time the script will extend/evaluate them is determined by various user settings.
The Maximum Breaks setting determines the maximum amount of breaks a breaker structure can withstand before it is broken.
For example, a maximum amount of breaks of 3 for a bearish breaker structure would require the price to cross under that precise breaker structure level three times. Using higher values of this setting will also highlight more Breakers MS.
The Breaker Maximum Duration setting on the other hand determines how many bars a breaker structure can be evaluated without being broken. If a breaker structure is not broken after this amount of bars then it will stop being evaluated and will be removed.
🔶 SETTINGS
Swings Period: Period used for the swing detection, with higher values returning longer term markter structures.
Maximum Breaks: Amount of break required for a breaker block to be considered broken.
Breaker Maximum Duration: Maximum duration of a breaker block (in bars).
All Support and Resistance Levels [PINESCRIPTLABS]First, we observe the Light Blue Macro Supports and the Pink Macro Resistances. These channels are automatically formed based on market data, identifying pivot points in price history and determining the strength of these levels based on the number of pivot points within these same channels. When the price interacts with the macro Supports, we have a strong reaction that we can take advantage of in two ways:
1. The first and most common, as we can see in the chart, is that these zones elicit a strong reaction, and the price respects the channel. For us, as traders, it signifies a pivot point where we can initiate a trade, either a buy at the macro Support or a sell at the macro Resistance.
2. The second way to use them, for which this algorithm is also prepared, is in case a movement occurs where the price breaks these Macro Supports or Macro Resistances. We have a special alert that will notify us because when these macro channels are broken, they tend to do so violently in a move that we can also capitalize on. Usually, when such a breakout occurs, we will visit the next support or resistance channel, which can bring us significant benefits.
The following complex and highly accurate calculation provided by this indicator allows us to work with price supports and resistances within the internal structure of macro channels. As we can see in the chart, "boxes" are formed that represent the detected support and resistance areas. It also detects breakouts when the price crosses below the support "box" or above the resistance "box" and displays labels on the chart indicating when the breakout occurred, all in real-time. But here comes something very special: the algorithm also has a calculation that, as we see in the chart, there are occasions when the breakout occurs, but the price returns to the support or resistance "box" and is detected. At this moment, a label appears on the chart indicating a possible confirmation of the breakout. In other words, as the price initially broke out but returned to the "box," the algorithm will notify us with another label and a special alert when the price confirms the breakout.
At the same time, we can see in the chart that the algorithm also provides us with a volume profile that allows us to see where the most trading activity has concentrated based on price levels. We can also use it to identify support and resistance levels based on the point of control (POC) and value area levels. As we can see in the chart, there are labels with the exact price where the highest volume was traded. The top label in the chart shows the highest price, and the last label we see is for the lowest price. These displayed labels are within the defined range of retrocession or Lookback Length, which we can configure in our indicator. As we observe, the algorithm shows a strong confluence between the Macro Support channels and the volume profile labels, confirming the strongest areas of the range.
Finally, after calculating supports and resistances from three different perspectives, the algorithm provides us with a macro view of the price in the form of trend lines. In other words, it shows us supports and resistances in the form of diagonal channels where we can see trends in the market and areas where the price has historically encountered difficulties in advancing or retreating, which we can corroborate with the supports and resistances mentioned at the beginning.
As we can see in the chart, the algorithm also shows us labels with the exact price where angular price supports and resistances are located. These calculations are very important as they provide a trend perspective, and we can get an idea of where the price is headed, combining these with the other support and resistance calculations.
Remember that all the previous calculations have their own alerts for when supports or resistances are broken, or in the case of new channels being created, also when there is a breakout of a box or a confirmation of a breakout.
The second type of alert from the indicator is configured to make our indicators work for us without the need to be present on the chart, thanks to special programming within the indicator's code. It will execute automatic buys and sells on our preferred exchange through an alert configured for the 3Commas bot. All you need to do is input your Bot ID, provided by 3Commas, into the alert. All premium indicators come with a configuration explanation that will guide you in detail on where to input your Bot ID.
ESPAÑOL:
En primer lugar, observamos los Macro Soportes en color azul claro y las Macro Resistencias en color rosa. Estos canales se forman automáticamente en función de los datos del mercado, identificando puntos de pivote en el historial de precios y determinando la fuerza de estos niveles según la cantidad de puntos de pivote dentro de estos mismos canales. Cuando el precio interactúa con los macro Soportes, tenemos una fuerte reacción que podemos aprovechar de dos formas:
1. La primera y más común, como observamos en el gráfico, es que estas zonas provocan una fuerte reacción, y el precio respeta el canal. Para nosotros, como traders, significa un punto de pivote donde podemos generar una entrada, ya sea de compra en el macro soporte o de venta en la macro resistencia.
2. La segunda forma de utilizarlos, para la cual este algoritmo también está preparado, es en caso de que se genere un movimiento en el que el precio rompa estos Macro Soportes o Macro Resistencias. Contamos con una alerta especial que nos avisará, ya que al romperse estos macro canales suelen hacerlo con violencia en un movimiento que también podemos aprovechar. Regularmente, cuando existe este rompimiento, visitaremos el siguiente canal de soporte o resistencia, lo que nos puede traer grandes beneficios.
El siguiente cálculo complejo y muy preciso que nos ofrece este indicador nos permite trabajar con soportes y resistencias del precio dentro de la estructura interna de los canales macro. Como observamos en el gráfico, se producen "boxes" que representan las áreas de soporte y resistencia detectadas. Además, detecta breakouts cuando el precio cruza por debajo del "box" de soporte o por encima del "box" de resistencia y muestra etiquetas en el gráfico que nos indican cuándo ocurrió el breakout, todo esto en tiempo real. Pero aquí viene algo super especial: el algoritmo también tiene un cálculo que, como vemos en el gráfico, hay ocasiones en las que el breakout ocurre, pero el precio retorna al "box" de soporte o resistencia y es detectado. En este momento, aparece una etiqueta en el gráfico que nos muestra que estamos ante una posible confirmación del breakout. Es decir, como el precio había hecho en primer lugar el breakout pero regresó al "box", el algoritmo nos avisará con otra etiqueta y alerta especial cuando el precio confirme el breakout.
Al mismo tiempo, observamos en el gráfico que el algoritmo también nos muestra un perfil de volumen que nos permite ver dónde se ha concentrado la mayor actividad de negociación en función de los niveles de precios. También podemos usarlo para identificar niveles de soporte y resistencia basados en el punto de control (POC) y los niveles de valor (Value Area). Como vemos en el gráfico, tenemos etiquetas con el precio exacto donde se negoció la mayor cantidad de volumen. La etiqueta superior del gráfico nos muestra el precio más alto, y la última etiqueta que observamos es la de la parte baja, que nos indica el precio más bajo. Estas etiquetas mostradas están dentro del rango de retroceso definido o Lookback Length, que podemos configurar en nuestro indicador. Como observamos, el algoritmo nos muestra una fuerte confluencia entre los canales de soporte Macro y las etiquetas del perfil de volumen, lo que nos confirma las áreas más fuertes del rango.
Por último, después de hacer los cálculos de soportes y resistencias desde tres perspectivas distintas, el algoritmo nos proporciona una visión macro del precio en forma de líneas de tendencia. Es decir, nos muestra soportes y resistencias en forma de canales diagonales donde tendremos representadas las tendencias en el mercado y áreas en las que el precio históricamente ha encontrado dificultades para avanzar o retroceder, lo que podemos corroborar con los soportes y resistencias de los que hablamos al principio.
Como observamos en el gráfico, el algoritmo también nos muestra las etiquetas con el precio exacto donde se encuentran los soportes angulares del precio y las resistencias angulares. Estos cálculos son importantísimos, ya que nos ofrecen una perspectiva de tendencia y podemos tener una visión de hacia dónde se dirige el precio, combinando estos con los otros cálculos de soportes y resistencias.
Recuerden que todos los cálculos anteriores tienen su propia alerta para cuando los soportes o resistencias se quiebren o en su caso, se creen nuevos canales, también cuando haya una ruptura de un "box" o una confirmación de ruptura.
El segundo tipo de alerta del indicador está configurada para que nuestros indicadores trabajen para nosotros sin necesidad de estar presentes en el gráfico, esto mediante una programación especial dentro del código del indicador que realizará compras y ventas automáticas en nuestro Exchange de preferencia mediante una alerta configurada para el bot 3Commas. Solo bastará con que pongamos nuestro número de Bot o Bot ID que da el proveedor de 3Commas y lo insertemos en la alerta. Todos los indicadores premium tienen en su configuración una explicación detallada sobre dónde poner tus Bot ID.
Absorbing System Support and ResistanceHello Traders :)
I am Only Fibonacci.
My purpose in coding this indicator was to detect support and resistance more easily.
What is the working principle of this indicator?
This tool detects pivot points.
If the length of the sell pin is higher than the length of the buy pin, it is considered as resistance.
It detects the formation according to the length of the pivot point and draws a line until this level is broken.
The main purpose is to add a new perspective to support and resistance detection and to prepare an educational code sequence.
The codes are open to everyone, you can develop as you wish.
In the settings you can choose whether you want to see the breakdowns, you can also choose whether the breakdowns will be with the wicks or the body.
func("RES")
func("SUP")
It is written in a functional way.
If you call "RES" inside the func method, it draws the resistors. If you throw a call other than "RES" it draws the supports.
The main concept here;
"RES" = Resistance
"SUP" = Support
YinYang TrendTrend Analysis has always been an important aspect of Trading. There are so many important types of Trend Analysis and many times it may be difficult to identify what to use; let alone if an Indicator can/should be used in conjunction with another. For these exact reasons, we decided to make YinYang Trend. It is a Trend Analysis Toolkit which features many New and many Well Known Trend Analysis Indicators. However, everything in there is added specifically for the reason that it may work well in conjunction with the other Indicators prevalent within. You may be wondering, why bother including common Trend Analysis, why not make everything unique? Ideally, we would, however, you need to remember Trend Analysis may be one of the most common forms of charting. Therefore, many other traders may be using similar Trend Analysis either through plotting manually or within other Indicators. This all boils down to Psychology; you are trading against other traders, who may be seeing some of the similar information you are, and therefore, you may likewise want to see this information. What affects their trading decisions may affect yours as well.
Now enough about Trend Analysis, what is within this Indicator, and what does it do? Well, first let’s quickly mention all of its components, then we will, through a Tutorial, discuss each individually and finally how each comes together as a cohesive whole. This Indicator features many aspects:
Bull and Bear Signals
Take Profit Signals
Bull and Bear Zones
Information Tables displaying: (Boom Meter, Bull/Bear Strength, Yin/Yang State)
16 Cipher Signals
Extremes
Pivots
Trend Lines
Custom Bollinger Bands
Boom Meter Bar Colors
True Value Zones
Bar Strength Indexes
Volume Profile
There are many things to cover within our Tutorial so let's get started, chronologically from the list above.
Tutorial:
Bull and Bear Signals:
We’ve zoomed out quite a bit for this example to help give you a broader aspect of how these Bull and Bear signals work. When a signal appears, it is displaying that there may be a large amount of Bullish or Bearish Trend Analysis occurring. These signals will remain in their state of Bull or Bear until there is enough momentum change that they change over. There are a couple Options within the Settings that dictate when/where/why these signals appear, and this example is using their default Settings of ‘Medium’. They are, Purchase Speed and Purchase Strength. Purchase Speed refers to how much Price Movement is needed for a signal to occur and Purchase Strength refers to how many verifications are required for a signal to occur. For instance:
'High' uses 15 verifications to ensure signal strength.
'Medium' uses 10 verifications to ensure signal strength.
'Low' uses 5 verifications to ensure signal strength.
'Very Low' uses 3 verifications to ensure signal strength.
By default it is set to Medium (10 verifications). This means each verification is worth 10%. The verifications used are also relevant to the Purchase Speed; meaning they will be verified faster or slower depending on its speed setting. You may find that Faster Speeds and Lower Verifications may work better on Higher Time Frames; and Slower Speeds and Higher Verifications may work better on Lower Time Frames.
We will demonstrate a few examples as to how the Speed and Strength Settings work, and why it may be beneficial to adjust based on the Time Frame you’re on:
In this example above, we’ve kept the same Time Frame (1 Day), and scope; but we’ve changed Purchase Speed from Medium->Fast and Purchase Strength from Medium-Very Low. As you can see, it now generates quite a few more signals. The Speed and Strength settings that you use will likely be based on your trading style / strategy. Are you someone who likes to stay in trades longer or do you like to swing trade daily? Likewise, how do you go about identifying your Entry / Exit locations; do you start on the 1 Day for confirmation, then move to the 15/5 minute for your entry / exit? How you trade may determine which Speed and Strength settings work right for you. Let's jump to a lower Time Frame now so you can see how it works on the 15/5 minute.
Above is what BTC/USDT looks like on the 15 Minute Time Frame with Purchase Speed and Strength set to Medium. You may note that the signals require a certain amount of movement before they get started. This is normal with Medium and the amount of movement is generally dictated by the Time Frame. You may choose to use Medium on a Lower Time Frame as it may work well, but it may also be best to change it to a little slower.
We are still on the 15 Minute Time Frame here, however we simply changed Purchase Speed from Medium->Slow. As you can see, lots of the signals have been removed. Now signals may ‘hold their ground’ for much longer. It is important to adjust your Purchase Speed and Strength Settings to your Time Frame and personalized trading style accordingly.
Above we have now jumped down to the 5 Minute Time Frame. Our Purchase Speed is Slow and our Purchase Strength is Medium. We can see it looks pretty good, although there is some signal clustering going on in the middle there. If we change our Settings, we may be able to get rid of that.
We have changed our Purchase Speed from Slow->Snail (Slowest it can go) and Purchase Strength from Medium->Very Low (Lowest it can go). Changing it from Slow-Snail helped get rid of the signal clustering. You may be wondering why we lowered the Strength from Medium->Very Low, rather than going from Medium->High. This is a use case scenario and one you’ll need to decide for yourself, but we noticed when we changed the Speed from Slow->Snail that the signal clustering was gone, so then we checked both High and Very Low for Strengths to see which produced the best looking signal locations.
Please remember, you don’t have to use it the exact way we’ve displayed in this Tutorial. It is meant to be used to suit your Trading Style and Strategy. This is why we allow you to modify these settings, rather than just automating the change based on Time Frames. You’ll likely need to play around with it, as you’ll notice different settings may work better on certain pairs and Time Frames than others.
Take Profit Signals:
We’ve reset our Purchase Settings, everything is on defaults right now at Medium. We’ve enabled Take Profit signals. As you can see there are both Take Profit signals for the Bulls and the Bears. These signals are not meant to be used within automation. In fact, none of this indicator is. These signals are meant to show there has been a strong change in momentum, to such an extent that the signal may switch from its current (Bull or Bear) and now may be a good time to Take Profit. Your Take Profit Settings likewise has a Speed and Strength, and you can set them differently than your Purchase Settings. This is in case you want to Take Profit in a different manner than your Purchase Signals. For instance:
In the example above we’ve kept Purchase Strength and Speed at Medium but we changed our Take Profit Speed from Medium->Snail and our Take Profit Strength from medium->Very Low. This greatly reduces the amount of Take Profit signals, and in some cases, none are even produced. This form of Take Profit may act more as a Trailing Take Profit that if it’s not hit, nothing appears.
In this example we have changed our Purchase Speed from Medium->Fast, our Purchase Strength from Medium->Very Low. We’ve also changed our Take Profit Speed from Snail->Medium and kept our Take Profit Strength on Very Low. Now we may get our signals quicker and likewise our Take Profit may be more rare. There are many different ways you can set up your Purchase and Take Profit Settings to fit your Trading Style / Strategy.
Bull and Bear Zones:
We have disabled our Take Profit locations so that you can see the Bull and Bear Zones. These zones change color when the Signals switch. They may represent some strong Support and Resistance locations, but more importantly may be useful for visualizing changes in momentum and consolidation. These zones allow you to see various Moving Averages; and when they start to ‘fold’ (cross) each other you may see changes in momentum. Whereas, when they’re fully stretched out and moving all in the same direction, it can provide insight that the current rally may be strong. There is also the case where they look like they’re ‘twisted’ together. This happens when all of the Moving Averages are very close together and may be a sign of Consolidation. We will go over a few examples of each of these scenarios so you can understand what we’re referring to.
In this example above, there are a few different things happening. First we have the yellow circle, where the final and slowest Moving Average (MA) crossed over and now all of the MA’s that form the zone are Bullish. You can see this in the white circle where there are no MA’s that are crossing each other. Lastly, within the blue circle, we can see how some of the faster MA’s are crossing under each other. This is a bullish momentum change. The Faster moving MA’s will always be the first ones to cross before the Slower ones do. There is a color scheme in place here to represent the Speed of the MA within the Zone. Light blue is the fastest moving Bull color -> Light Green and finally -> Dark Green. Yellow is the fastest moving Bear color -> Orange and finally -> Red / Dark Red within the Zone.
Next we will review a couple different examples of what Consolidation looks like and why it is very important to look out for. Consolidation is when Most, if not All of the MA’s are very tightly ‘twisted’ together. There is very little spacing between almost all of the MA’s in the example above; highlighted by the white circle. Consolidation is important as it may indicate a strong price movement in either direction will occur soon. When the price is consolidating it means it has had very little upwards or downwards movement recently. When this happens for long enough, MA’s may all get very similar in value. This may cause high volatility as the price tries to break out of Consolidation. Let's look at another example.
Above we have two more examples of what Consolidation looks like and how high Volatility may occur after the Consolidation is broken. Please note, not all Consolidation will create high Volatility but it is something you may want to look out for.
Information Tables displaying: (Boom Meter, Bull/Bear Strength, Yin/Yang State):
Information tables are a very important way of displaying information. It contains 3 crucial pieces of information:
Boom Meter
Bull/Bear Strength
Yin/Yang State
Boom Meter is a meter that goes from 0-100% and displays whether the current price is Dumping (0 - 29%), Consolidating (30 - 70%) or Pumping (71 - 100%). The Boom Meter is meant to be a Gauge to how the price is currently fairing. It is composed of ~50 different calculations that all vary different weights to calculate its %. Many of the calculations it uses are likewise used in other things, such as the Bull/Bear Strength, Bull/Bear Zone MA cross’, Yin/Yang State, Market Cipher Signals, RSI, Volume and a few others. The Boom Meter, although not meant to be used solely to make purchase decisions, may give you a good idea of current market conditions considering how many different things it evaluates.
Bull/Bear Strength is relevant to your Purchase Speed and Strength. It displays which state it is currently in, and the % it is within that state. When a % hits 0, is when the state changes. When states change, they always start at 100% initially and will go down at the rate of Purchase Strength (how many verifications are needed). For instance, if your Purchase Strength is set to ‘Medium’ it will move 10% per verification +/-, if it is set to High, it will move 6.67% per verification +/-. Bull/Bear Strength is a good indicator of how well that current state is fairing. For instance if you started a Long when the state changed to Bull and now it is currently at Bull with 20% left, that may be a good indication it is time to get out (obviously refer to other data as well, but it may be a good way to know that the state is 20% away from transitioning to Bear).
Yin/Yang State is the strongest MA cross within our Indicator. It is unique in the sense that it is slow to change, but not so much that it moves slowly. It isn’t as simple as say a Golden/Death Cross (50/200), but it crosses more often and may hold similar weight as it. Yin stands for Negative (Bearish) and Yang stands for Positive (Bullish). The price will always be in either a state of Yin or Yang, and just because it is in one, doesn’t mean the price can’t/won’t move in the opposite direction; it simply means the price may be favoring the state it is in.
16 Cipher Signals:
Cipher Signals are key visuals of MA cross’ that may represent price movement and momentum. It would be too confusing and hard to decipher these MA’s as lines on a chart, and therefore we decided to use signals in the form of symbols instead. There are 12 Standard and 4 Predictive/Confirming Cipher signals. The Standard Cipher signals are composed of 6 Bullish and 6 Bearish (they all have opposites that balance each other out). There can never be 2 of the same signal in a row, as the Bull and Bear cancel each other out and it's always in a state of one or the other. When all 6 Bullish or Bearish signals appear in a row, very closely together, without any of the opposing signals it may represent a strong momentum movement is about to occur.
If you refer to the example above, you’ll see that the 6 Bullish Cipher signals appeared exactly as mentioned above. Shortly after the Green Circle appeared, there was a large spike in price movement in favor of the Bulls. Cipher signals don’t need to appear in a cluster exactly like the white circle in this photo for momentum to occur, but when it does, it may represent volatility more than if it is broken up with opposing signals or spaced out over a longer time span.
Above is an example of the opposite, where all 6 Bearish Cipher signals appeared together without being broken by a Bullish Cipher signal or being too far spaced out. As you can see, even though past it there was a few Bullish signals, they were quickly reversed back to Bearish before a large price movement occurred in favor of the Bears.
In the example above we’ve changed Cipher signals to Predictive and Confirming. Support Crosses (Green +) and Blood Diamonds (Red ♦) are the normal Cipher Signals that appear within the Standard Set. They are the first Cipher Signal that appears and are the most common ones as well. However, just because they are the first, that doesn’t mean they aren’t a powerful Cipher signal. For this reason, there are Predictive and Confirming Cipher signals for these. The Predictive do just that, they appear slightly sooner (if not the same bar) as the regular and the Confirming appear later (1+ bars usually). There will be times that the Predictive appears, but it doesn’t resort to the Regular appearing, or the Regular appears and the Confirming doesn’t. This is normal behavior and also the purpose of them. They are meant to be an indication of IF they may appear soon and IF the regular was indeed a valid signal.
Extremes:
Extremes are MA’s that have a very large length. They are useful for seeing Cross’ and Support and Resistance over a long period of time. However, because they are so long and slow moving, they might not always be relevant. It’s usually advised to turn them on, see if any are close to the current price point, and if they aren’t to turn them off. The main reason being is they stretch out the chart too much if they’re too far away and they also may not be relevant at that point.
When they are close to the price however, they may act as strong Support and Resistance locations as circled in the example above.
Pivots:
Pivots are used to help identify key Support and Resistance locations. They adjust on their own in an attempt to keep their locations as relevant as possible and likewise will adjust when the price pushes their current bounds. They may be useful for seeing when the Price is currently testing their level as this may represent Overbought or Oversold. Keep in mind, just because the price is testing their levels doesn’t mean it will correct; sometimes with high volatility or geopolitical news, movement may continue even if it is exhibiting Overbought or Oversold traits. Pivots may also be useful for seeing how far the price may correct to, giving you a benchmark for potential Take Profit and Stop Loss locations.
Trend Lines:
Trend Lines may be useful for identifying Support and Resistance locations on the Vertical. Trend Lines may form many different patterns, such as Pennants, Channels, Flags and Wedges. These formations may help predict and drive the price in specific directions. Many traders draw or use Indicators to help create Trend Lines to visualize where these formations will be and they may be very useful alone even for identifying possible Support and Resistance locations.
If you refer to the previous example, and now to this example, you’ll notice that the Trend Line that supported it in 2023 was actually created in June 2020 (yellow circle). Trend Lines may be crucial for identifying Support and Resistance locations on the Vertical that may withhold over time.
Custom Bollinger Bands:
Bollinger Bands are used to help see Movement vs Consolidation Zones (When it's wide vs narrow). It's also very useful for seeing where the correction areas may be. Price may bounce between top and bottom of the Bollinger Bands, unless in a pump or dump. The Boom Meter will show you whether it is currently: Dumping, Consolidation or Pumping. If combined with Boom Meter Bar Colors it may be a good indication if it will break the Bollinger Band (go outside of it). The Middle Line of the Bollinger Band (White Line) may be a very strong support / resistance location. If the price closes above or below it, it may be a good indication of the trend changing (it may indicate one of the first stages to a pump or dump). The color of the Bollinger Bands change based on if it is within a Bull or Bear Zone.
What makes this Bollinger Band special is not only that it uses a custom multiplier, but it also incorporates volume to help add weight to the calculation.
Boom Meter Bar Colors:
Boom Meter Bar Colors are a way to see potential Overbought and Oversold locations on a per bar basis. There are 6 different colors within the Boom Meter bar colors. You have:
Overbought and Very Bullish = Dark Green
Overbought and Slightly Bullish = Light Green
Overbought and Slight Bearish = Light Red
Oversold and Very Bearish = Dark Red
Oversold and Slightly Bearish = Orange
Oversold and Slightly Bullish = Light Purple
When there is no Boom Meter Bar Color prevalent there won’t be a color change within the bar at all.
Just because there is a Boom Meter Bar Color change doesn’t mean you should act on it purchase or sell wise, but it may be an indication as to how that bar is fairing in an Overbought / Oversold perspective. Boom Meter Bar Colors are mainly based on RSI but do take in other factors like price movement to determine if it is Overbought or Oversold. When it comes to Boom Meter Bar Color, you should take it as it is, in the sense that it may be useful for seeing how Individual bars are fairing, but also note that there may be things such as:
When there is Very Overbought (Dark Green) or Very Oversold (Dark Red), during massive pump or dumps, it will maintain this color. However, once it has lost ‘some’ momentum it will likely lose this color.
When there has been a massive Pump or Dump, and there is likewise a light purple or light red, this may mean there is a correction or consolidation incoming.
True Value Zones:
True Value zones are our custom way of displaying something that is similar to a Bollinger Band that can likewise twist like an MA cross. The main purpose of it is to display where the price may reside within. Much like a Bollinger Band it has its High and Low within its zone to specify this location. Since it has the ability to cross over and under, it has the ability to specify what it thinks may be a Bullish or Bearish zone. This zone uses its upper level to display what may be a Resistance location and its lower level to display what may be a Support location. These Support and Resistance locations are based on Momentum and will move with the price in an attempt to stay relevant.
You may use these True Values zones as a gauge of if the price is Overbought or Oversold. When the price faces high volatility and moves outside of the True Value Zones, it may face consolidation or likewise a correction to bring it back within these zones. These zones may act as a guideline towards where the price is currently valued at and may belong within.
Bar Strength Indexes:
Bar Strength Indexes are our way of ranking each bar in correlation to the last few. It is based on a few things but is highly influenced on Open/Close/High/Low, Volume and how the price has moved recently. They may attempt to ‘rate’ each bar and how Bullish/Bearish each of these bars are. The Green number under the bar is its Bullish % and the Red number above the bar is its Bearish %. These %’s will always equal 100% when combined together. Bar Strength Indexes may be useful for seeing when either Bullish or Bearish momentum is picking up or when there may be a reversal / consolidation.
These Bar Strength Indexes may allow you to decipher different states. If you refer to the example above, you may notice how based on how the numbers are changing, you may see when it has entered / exited Bullish, Bearish and Consolidation. Likewise, if you refer to the current bar (yellow circle), you can see that the Bullish % has dropped from 93 to 49; this may be signifying that the Bullish movement is losing momentum. You may use these changes in Bar Indexes as a guide to when to enter / end trades.
Volume Profile:
Volume Profile has been something that has been within TradingView for quite some time. It is a very useful way of seeing at what Horizontal Price there has been the most volume. This may be very useful for seeing not only Support and Resistance locations based on Volume, but also seeing where the majority of Limit Orders are placed. Limit Orders are where traders decide they want to either Buy / Sell but have the order placed so the trade won’t happen until the price reaches a certain amount. Either through many orders from many traders, or a single order from a ‘Whale’ (trader with a lot of capital); you may see Support and Resistance at specific Price Points that have large Volume.
Many Volume Profile Indicators feature a breakdown of all the different locations of volume, along with a Point Of Control (POC) line to designate where the most Volume has been. To try and reduce clutter within our already very saturated Toolkit Indicator, we’ve decided to strip our Volume Profile to only display this POC line. This may allow you to see where the crucial Volume Support and Resistance is without all of the clutter.
You may be wondering, well how important is this Volume Profile POC line and how do I go about using it? Aside from it being a gauge towards where Support and Resistance may be within Volume, it may also be useful for identifying good Long/Short locations. If you think of the line as a ‘Battle’ between the Bulls and Bears, they’re both fighting over that line. The Bears are wanting to break through it downwards, and the Bulls are wanting to break through it upwards. When one side has temporarily won this battle, this means they may have more Capital to push the price in their direction. For instance, if both the Bulls and the Bears are fighting over this POC price, that means the Bears think that price is a good spot to sell; however, the Bulls also deem that price to be a good point to buy. If the Bulls were to win this battle, that means the Bears either canceled their orders to reevaluate, or all of their orders have been completed from the Bulls buying them all. What may happen after that is, if the Bulls were able to purchase all of these Limit Sell Orders, then they may still have more Capital left to continue to pressure the price upwards. The same may be true for if the Bears were to win this ‘Battle’.
How to use YinYang Trend as a cohesive whole:
Hopefully you’ve read and understand how each aspect of this Indicator works on its own, as knowing how/what they each do is important to understanding how it is used as a cohesive whole. Due to the fact that this Toolkit of an Indicator displays so much data, you may find it easier to use and understand when you’re zoomed in a little, somewhat like we are in this example above.
If we refer to the example above, you may like us, deduce a few things:
1. The current price may be VERY Overbought. This may be seen by a few different things:
The Boom Meter Bar Colors have been exhibiting a Dark Green color for 6 bars in a row.
The price has continuously been moving the High (red) Pivot Upwards.
Our Boom Meter displays ‘Pumping’ at 100%.
The price broke through a Downward Trend Line that was created in February of 2022 at 45,000 like it was nothing.
The Bar Strength Index hit a Bullish value of 93%.
The Price broke out of the Bollinger Bands and continues to test its upper levels.
The Low is much greater than our fastest moving MA that creates the Purchase Zones.
The Price is vastly outside of the True Value Zone.
The Bar Strength Index of our current bar is 50% bullish, which is a massive decrease from the previous bar of 93%. This may indicate that a correction is coming soon.
2. Since we’ve identified the current price may be VERY Overbought, next we need to identify if/when/to where it may correct to:
We’ve created a new example here to display potential correction areas. There are a few places it has the ability to correct to / within:
The downward Trend Line (red) below the current bar sitting currently at 32,750. This downward Trend Line is at the same price point as the Fastest MA of our Purchase Zone which may provide some decent Support there.
Between two crucial Pivot heights, within a zone of 30,000 to 31,815. This zone has the second fastest MA from the Purchase Zone right near the middle of it at 31,200 which may act as a Support within the Zone. Likewise there is the Bollinger Band Basis which is also resting at 30,000 which may provide a strong Support location here.
If 30,000 fails there may be a correction all the way to the bottom of our True Value Zone and the top of one of our Extremes at 27,850.
If 27,850 fails it may correct all the way to the bottom of our Purchase Zone / lowest of our Extremes at 27,350.
If all of the above fails, it may test our Volume Profile POC of 26,430. If this POC fails, the trend may switch to Bearish and continue further down to lower levels of Support.
The price can always correct more than the prices mentioned above, but considering overall this Indicator is favoring the Bulls, we will tailor this analysis in Favor of the Bullish Momentum maintaining even during this correction. For these reasons, we think the price may correct between the 30,000 and 31,815 zone before continuing upwards and maintaining this Bullish Momentum.
Please note, these correction estimates are just that, they’re estimates. Aside from the fact that the price is very overbought right now and our Bar Strength Index may be declining (bar hasn’t closed yet); the Boom Meter Strength remains at 100%, meaning there may not be much Bearish momentum changes happening yet. We just want to show you how an Preemptive analysis may be done before there are even Bearish Cipher Signals appearing.
Using this Indicator, you may be able to decipher Entry and Exits. In the previous example, we went over how you may use it to see where a correction (Exit / Take Profit) may be and how far this correction may go. In this example above we will be discussing how to identify Entry locations. We will be discussing a Bullish Buy entry but the same rules apply for a Bearish Sell Entry just the opposite with the Cipher Signals.
If you refer to where we circled in white, this is where the Purchase Zones faced Consolidation. When the Purchase Zones all get tight and close together like that, this may represent Volatility and Momentum in either direction may occur soon.
This was then followed by all 6 of the Standard Cipher Signals closely in succession to each other. This means the Momentum may be favoring the Bulls. If this was likewise all 6 of the Bearish Cipher Signals closely in succession, than the momentum change would favor the Bears.
If you were looking for an entry, and you saw Consolidation with the Purchase Zones and then shortly after you saw the Green Circle and Blue Flag (they can swap order); this may now be a good Entry location.
We will conclude this Tutorial here. Hopefully this has taught you how this Trend Analysis Toolkit may help you locate multiple different types of important Support and Resistance locations; as well as possible Entry and Exit locations.
Settings:
1. Bull/Bear Zones:
1.1. Purchase Speed (Bull/Bear Signals and Take Profit Signals):
Speed determines how much price movement is needed for a signal to occur.
'Sonic' uses the extremities to try and get you the best entry and exit points, but is so quick, its speed may reduce accuracy.
'Fast' may attempt to capitalize on price movements to help you get SOME or attempt to lose LITTLE quickly.
'Medium' may attempt to get you the most optimal entry and exit locations, but may miss extremities.
'Slow' may stay in trades until it is clear that momentum has changed.
'Snail' may stay in trades even if momentum has changed. Snail may only change when the price has moved significantly (This may result in BIG gains, but potentially also BIG losses).
1.2. Purchase Strength (Bull/Bear Signals and Take Profit Signals):
Strength ensures a certain amount of verifications required for signals to happen. The more verifications the more accurate that signal is, but it may also change entry and exit points, and you may miss out on some of the extremities. It is highly advised to find the best combination between Speed and Strength for the TimeFrame and Pair you are trading in, as all pairs and TimeFrames move differently.
'High' uses 15 verifications to ensure signal strength.
'Medium' uses 10 verifications to ensure signal strength.
'Low' uses 5 verifications to ensure signal strength.
'Very Low' uses 3 verifications to ensure signal strength.
2. Cipher Signals:
Cipher Signals are very strong EMA and SMA crosses, which may drastically help visualize movement and help you to predict where the price will go. All Symbols have counter opposites that cancel each other out (YinYang). Here is a list, in order of general appearance and strength:
White Cross / Diamond (Predictive): The initial indicator showing trend movement.
Green Cross / Diamond (Regular): Confirms the Predictive and may add a fair bit of strength to trend movement.
Blue Cross / Diamond (Confirming): Confirms the Regular, showing the trend might have some decent momentum now.
Green / Red X: Gives momentum to the current trend direction, possibly confirming the Confirming Cross/Diamond.
Blue / Orange Triangle: may confirm the X, Possible pump / dump of decent size may be coming soon.
Green / Red Circle: EITHER confirms the Triangle and may mean big pump / dump is potentially coming, OR it just hit its peak and signifies a potential reversal correction. PAY ATTENTION!
Green / Red Flag: Oddball that helps confirm trend movements on the short term.
Blue / Yellow Flag: Oddball that helps confirm trend movements on the medium term (Yin / Yang is the long term Oddball).
3. Bull/Bear Signals:
Bear and Bull signals are where the momentum has changed enough based on your Purchase Speed and Strength. They generally represent strong price movement in the direction of the signal, and may be more reliable on higher TimeFrames. Please don’t use JUST these signals for analysis, they are only meant to be a fraction of the important data you are using to make your technical analysis.
4. Take Profit Signals:
Take Profit signals are guidelines that momentum has started to change back and now may be a good time to take profit. Your Take Profit signals are based on your Take Profit Speed and Strength and may be adjusted to fit your trading style.
5. Information Tables:
Information tables display very important data and help to declutter the screen as they are much less intrusive compared to labels. Our Information tables display: Boom Meter, Purchase Strength of Bull/Bear Zones and Yin/Yang State.
Boom Meter: Uses over 50 different calculations to determine if the pair is currently 'Dumping' (0-29%), 'Consolidating' (30-70%), or 'Pumping' (71-100%).
Bull / Bear Strength: Shows the strength of the current Bull / Bear signal from 0-100% (Signals start at 100% and change when they hit 0%). The % it moves up or down is based on your 'Purchase Strength'.
Yin / Yang state: Is one of the strongest EMA/SMA crosses (long term Oddball) within this Indicator and may be a great indication of which way the price is moving. Do keep in mind if the price is consolidating when changing state, it may have the highest chance of switching back also. Once momentum kicks in and there is price movement the state may be confirmed. Refer to other Cipher Symbols, Extremes, Trend, BOLL, Boom %, Bull / Bear % and Bar colors when Bull / Bear Zones are consolidating and Yin / Yang State changes as this is a very strong indecision zone.
6. Bull / Bear Zones:
Our Bull / Bear zones are composed of 8 very important EMA lengths that may act as not only Support and Resistance, but they help to potentially display consolidation and momentum change. You can tell when they are getting tight and close together it may represent consolidation and when they start to flip over on each other it may represent a change in momentum.
7. MA Extremes:
Our MA Extremes may be 3 of the most important long term moving averages. They don’t always play a role in trades as sometimes they’re way off from the price (cause they’re extreme lengths), but when they are around price or they cross under or over each other, it may represent large changes in price are about to occur. They may be very useful for seeing strong resistance / support locations based on price averages. Extremes may transition from a Support to a Resistance based on its position above or below them and how many times the price has either bounced up off them (Supporting) or Bounced back down after hitting them (Resistance).
8. Pivots:
Pivots may be a very important indicator of support and resistance for horizontal price movement. Pivots may represent the current strongest Support and Resistance. When the Pivot changes, it means a new strong Support or Resistance has been created. Sometimes you'll notice the price constantly pushes the pivot during a massive Pump or Dump. This is normal, and may indicate high levels of volatility. This generally also happens when the price is outside of the Bollinger Bands and is also Over or Undervalued. The price usually consolidates for a while after something like this happens before more drastic movement may occur.
9. Trend Lines:
Trend lines may be one of the best indicators of support and resistance for diagonal price movement. When a Trend Line fails to hold it may be a strong indication of a dump. Keep a close eye to where Upward and Downward Trend Lines meet. Trend lines can create different trading formations known as Pennants, Flags and Wedges. Please familiarize yourself with these formations So you know what to look for.
10. Bollinger Bands (BOLL):
Bollinger Bands may be very useful, and ours have been customized so they may be even more accurate by using a modified calculation that also incorporates volume.
Bollinger Bands may be used to see Movement vs Consolidation Zones (When it’s wide vs narrow). It also may be very useful for seeing where the correction areas are likely to be. Price may bounce between top and bottom of the BOLL, unless perhaps in a pump or dump. The Boom Meter may show you whether it is currently: Dumping, Consolidation or Pumping, along with Boom Meter Bar Colors, may be a good indication if it will break the BOLL. The Middle Line of the BOLL (White Line) may be a very strong support / resistance line. If the price closes above or below it, it may be a good indication of the trend changing (it may be one of the first stages to a pump or dump).
11. Boom Meter Bar Colors:
Boom Meter bar colors may be very useful for seeing when the bar is Overbought or Underbought. There are 6 different types of boom meter bar colors, they are:
Dark Green: RSI may be very Overbought and price going UP (May be in a big pump. NOTICE, chance of small dump correction if Cherry Red bar appears).
Light Green: RSI may be slightly Overbought and price going UP (chance of small pump).
Light Purple: RSI may be very Underbought and price going UP (May have chance of small correction).
Dark Red: RSI may be very Underbought and price going DOWN (May be in a big dump. NOTICE, chance of small pump correction if Light Purple bar appears).
Light Orange: RSI may be slightly Underbought and price going DOWN (chance of small dump).
Cherry Red: RSI may be very Overbought and price going DOWN (Chance of small correction).
12. True Value Zone:
True Value Zones display zones that represent ranges to show what the price may truly belong within. They may be very useful for knowing if the Price is currently not valued correctly, which generally means a correction may happen soon. True Value Zones can swap from Bullish to Bearish and are represented by Red for Bearish and Green for Bullish. For example, if the price is ABOVE and OUTSIDE of the True Value Zone, this means it may be very overvalued and might correct to go back inside the True Value Zone. This correction may be done by either dumping in price back into the zone, or consolidating horizontally back into it over a longer period of time. Vice Versa is also true if it is BELOW and OUTSIDE of the True Value Zone.
13. Bar Strength Index:
Bar Strength Index may display how Bullish/Bearish the current bar is. The strength is important to help see if a pump may be losing momentum or vice versa if a dump may correct. Keep in mind, the Bar Strength Index does a small 'refresh' to account for new bars. It may help to keep the Index more accurate.
14. Volume Profile:
Volume Profiles may be important to know where the Horizontal Support/Resistance is in Price base on Volume. Our Volume Profile may identify the point where the most volume has occurred within the most relevant timeframe. Volume Profiles are helpful at identifying where Whales have their orders placed. The reason why they are so helpful at identifying whales is when the volume is profiled to a specific area, there may likely be lots of Limit Buy and/or Sells around there. Limit Buys may act as Support and Limit Sells may act as Resistance. It may be very useful to know where these lie within the price, similar to looking at Order Book Data for Whale locations.
If you have any questions, comments, ideas or concerns please don't hesitate to contact us.
HAPPY TRADING!
ES S/R LevelsThis script plots support and resistance levels for /ES on your chart.
This script only works on the /ES symbol in Tradingview due to the string manipulation of the levels.
You can input support and resistance levels in the inputs.
The example format of S/R levels should be in the following form (comma-separated)
If the level is a single point, it will draw a line. If the level is a range, it will draw a box.
4260, 4267, 4275, 4283, 4289, 4297-4300, 4310-15, 4325-30
You can also add the keyword (major) in your S/R levels input which will add a (Major) label to the drawing
4260, 4267 (major), 4275, 4283, 4289, 4297-4300 (major), 4310-15, 4325-30
Omega Smart AnalystThe Omega Smart analyst is a tool designed to help traders visualize in a clearer way key price levels on the chart based on the price and the volume.
The indicator has some features, including:
- Option to customize the colors for all of the tools available to have common aesthetics
- Option to choose the length and the sensitivity for all of the tools
Volume clusters: display automatic volume clusters that can be used as support or resistance following the order block theory. These levels can be highlighted or extended in the settings.
Support and resistance: show automatic support and resistance levels based on volume.
Candle coloring: color candles based on volume and volatility, great to use as a signal confirmation.
Full levels: show previous high, low, and close levels on the chart, great to use to detect liquidity and breakouts
Bias target: a tool to enhance one of the low or high of the previous full levels according to the daily liquidity bias ICT method. As shown in the picture above you can also choose to display only these levels.
Market structure: show the current trend according to the market structure.
Structure origin: shows the main level of support and resistance with an area that gives also an indication of the current price volatility.
Risk Disclaimer:
All content and scripts provided are purely for informational & educational purposes only and do not constitute financial advice or a solicitation to buy or sell any securities of any type. Past performance does not guarantee future results. Trading can lead to a loss of the invested capital in the financial markets. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
Candle Pivot and Stop LossThe script plot upside and down side stop loss using pivot point and trure range.
The True Range, representing market volatility, is determined by finding the maximum value among the differences between the previous high-low, high-close, and low-close. The Downside Stop Loss is calculated by adding the True Range to the Pivot Point, while the Upside Stop Loss is calculated by subtracting the True Range from the Pivot Point.
These levels are plotted on the chart in blue (Pivot Point), red (Downside Stop Loss), and green (Upside Stop Loss), providing traders with essential reference points for their trading strategies.
The provided Pine Script calculates key trading levels for the current candle, including the Pivot Point, Downside Stop Loss, and Upside Stop Loss. The Pivot Point is computed as the average of the previous candle's high, low, and close prices.
Pivot Support & Resistance [DeltaAlgo]Pivot Support & Resistance Indicator - DeltaAlgo
Concept:
The "Pivot Support & Resistance" indicator is designed to help traders identify and visualize key support and resistance levels based on pivot points. It calculates and plots lines representing these levels on a price chart. This indicator's concept is rooted in the idea that pivot points can act as significant price reference points, which can be instrumental in making trading decisions.
Settings:
Pivot Period: Users can customize the period for calculating pivot points. This period determines how many bars are considered when calculating support and resistance levels.
Maximum Lines: The indicator allows traders to set a maximum number of support and resistance lines that will be displayed. When the maximum is reached, older lines are removed to keep the chart uncluttered.
Line Colors and Width: Users can choose the colors and width for both the support and resistance lines to tailor the indicator's appearance to their preferences.
Use Case:
The "Pivot Support & Resistance" indicator is beneficial for traders who employ pivot points in their technical analysis and trading strategies. It aids in identifying potential reversal and breakout levels, which can inform trading decisions. Traders can use this indicator to:
Identify key price levels: The indicator highlights significant support and resistance levels based on pivot points.
Plan entries and exits: Traders can incorporate these levels into their trading strategies to make more informed decisions about when to enter or exit trades.
Manage risk: Knowing where support and resistance levels are can help traders set stop-loss and take-profit orders more effectively.
This indicator simplifies the process of identifying and visualizing pivot-based support and resistance levels, making it a valuable tool for traders who rely on these levels in their technical analysis. It helps streamline the decision-making process and enhances overall trading effectiveness.
