Smart Money Concepts [XoRonX]# Smart Money Concepts (SMC) - Advanced Trading Indicator
## 📊 Deskripsi
**Smart Money Concepts ** adalah indicator trading komprehensif yang menggabungkan konsep Smart Money Trading dengan berbagai alat teknikal analisis modern. Indicator ini dirancang untuk membantu trader mengidentifikasi pergerakan institusional (smart money), struktur pasar, zona supply/demand, dan berbagai sinyal trading penting.
Indicator ini mengintegrasikan multiple timeframe analysis, order blocks detection, fair value gaps, fibonacci retracement, volume profile, RSI multi-timeframe, dan moving averages dalam satu platform yang powerful dan mudah digunakan.
---
## 🎯 Fitur Utama
### 1. **Smart Money Structure**
- **Internal Structure** - Struktur pasar jangka pendek untuk entry presisi
- **Swing Structure** - Struktur pasar jangka panjang untuk trend analysis
- **BOS (Break of Structure)** - Konfirmasi kelanjutan trend
- **CHoCH (Change of Character)** - Deteksi potensi reversal
### 2. **Order Blocks**
- **Internal Order Blocks** - Zona demand/supply jangka pendek
- **Swing Order Blocks** - Zona demand/supply jangka panjang
- Filter otomatis berdasarkan volatilitas (ATR/Range)
- Mitigation tracking (High/Low atau Close)
- Customizable display (jumlah order blocks yang ditampilkan)
### 3. **Equal Highs & Equal Lows (EQH/EQL)**
- Deteksi otomatis equal highs/lows
- Indikasi liquidity zones
- Threshold adjustment untuk sensitivitas
- Visual lines dan labels
### 4. **Fair Value Gaps (FVG)**
- Multi-timeframe FVG detection
- Auto threshold filtering
- Bullish & Bearish FVG boxes
- Extension control
- Color customization
### 5. **Premium & Discount Zones**
- Premium Zone (75-100% dari range)
- Equilibrium Zone (47.5-52.5% dari range)
- Discount Zone (0-25% dari range)
- Auto-update berdasarkan swing high/low
### 6. **Fibonacci Retracement**
- **Equilibrium to Discount** - Fib dari EQ ke discount zone
- **Equilibrium to Premium** - Fib dari EQ ke premium zone
- **Discount to Premium** - Fib full range
- Reverse option
- Show/hide lines
- Custom colors
### 7. **Volume Profile (VRVP)**
- Visible Range Volume Profile
- Point of Control (POC)
- Value Area (70% volume)
- Auto-adjust rows
- Placement options (Left/Right)
- Width customization
### 8. **RSI Multi-Timeframe**
- Monitor 3 timeframes sekaligus
- Overbought/Oversold signals
- Visual table display
- Color-coded signals (Red OB, Green OS)
- Customizable position & size
### 9. **Moving Averages**
- 3 Moving Average lines
- Pilihan tipe: EMA, SMA, WMA
- Automatic/Manual period mode
- Individual color & width settings
- Cross alerts (MA vs MA, Price vs MA)
### 10. **Multi-Timeframe Levels**
- Support up to 5 different timeframes
- Previous high/low levels
- Custom line styles
- Color customization
### 11. **Candle Color**
- Color candles berdasarkan trend
- Bullish = Green, Bearish = Red
- Optional toggle
---
## 🛠️ Cara Penggunaan
### **A. Setup Awal**
1. **Tambahkan Indicator ke Chart**
- Buka TradingView
- Klik "Indicators" → "My Scripts" atau paste code
- Pilih "Smart Money Concepts "
2. **Pilih Mode Display**
- **Historical**: Tampilkan semua struktur (untuk backtesting)
- **Present**: Hanya tampilkan struktur terbaru (clean chart)
3. **Pilih Style**
- **Colored**: Warna berbeda untuk bullish/bearish
- **Monochrome**: Tema warna abu-abu
---
### **B. Penggunaan Fitur**
#### **1. Smart Money Structure**
**Internal Structure (Real-time):**
- ✅ Aktifkan "Show Internal Structure"
- Pilih tampilan: All, BOS only, atau CHoCH only
- Gunakan untuk entry timing presisi
- Filter confluence untuk mengurangi noise
**Swing Structure:**
- ✅ Aktifkan "Show Swing Structure"
- Pilih tampilan struktur bullish/bearish
- Adjust "Swings Length" (default: 50)
- Gunakan untuk konfirmasi trend utama
**Tips:**
- BOS = Konfirmasi trend continuation
- CHoCH = Warning untuk possible reversal
- Tunggu price retest ke order block setelah BOS
---
#### **2. Order Blocks**
**Setup:**
- ✅ Aktifkan Internal/Swing Order Blocks
- Set jumlah blocks yang ditampil (1-20)
- Pilih filter: ATR atau Cumulative Mean Range
- Pilih mitigation: Close atau High/Low
**Cara Trading:**
1. Tunggu BOS/CHoCH terbentuk
2. Identifikasi order block terdekat
3. Wait for price pullback ke order block
4. Entry saat price respek order block (rejection)
5. Stop loss di bawah/atas order block
6. Target: swing high/low berikutnya
**Color Code:**
- 🔵 Light Blue = Internal Bullish OB
- 🔴 Light Red = Internal Bearish OB
- 🔵 Dark Blue = Swing Bullish OB
- 🔴 Dark Red = Swing Bearish OB
---
#### **3. Equal Highs/Lows (EQH/EQL)**
**Setup:**
- ✅ Aktifkan "Equal High/Low"
- Set "Bars Confirmation" (default: 3)
- Adjust threshold (0-0.5, default: 0.1)
**Interpretasi:**
- EQH = Liquidity di atas, kemungkinan sweep lalu dump
- EQL = Liquidity di bawah, kemungkinan sweep lalu pump
- Biasanya smart money akan grab liquidity sebelum move besar
**Trading Strategy:**
- Wait for EQH/EQL formation
- Anticipate liquidity grab
- Entry setelah sweep dengan konfirmasi (order block, FVG, CHoCH)
---
#### **4. Fair Value Gaps (FVG)**
**Setup:**
- ✅ Aktifkan "Fair Value Gaps"
- Pilih timeframe (default: chart timeframe)
- Enable/disable auto threshold
- Set extension bars
**Cara Trading:**
1. Bullish FVG = Support zone untuk buy
2. Bearish FVG = Resistance zone untuk sell
3. Price tends to fill FVG (retest)
4. Entry saat price kembali ke FVG
5. Partial fill = valid, full fill = invalidated
**Tips:**
- FVG + Order Block = High probability setup
- Multi-timeframe FVG lebih kuat
- Unfilled FVG = strong momentum
---
#### **5. Premium & Discount Zones**
**Setup:**
- ✅ Aktifkan "Premium/Discount Zones"
- Zones akan auto-update berdasarkan swing high/low
**Interpretasi:**
- 🟢 **Discount Zone** = Area BUY (price murah)
- ⚪ **Equilibrium** = Neutral (50%)
- 🔴 **Premium Zone** = Area SELL (price mahal)
**Trading Strategy:**
- BUY dari discount zone
- SELL dari premium zone
- Avoid trading di equilibrium
- Combine dengan structure confirmation
---
#### **6. Fibonacci Retracement**
**Setup:**
- Pilih Fib yang ingin ditampilkan:
- Equilibrium to Discount
- Equilibrium to Premium
- Discount to Premium
- Toggle show lines
- Enable reverse jika perlu
- Custom colors
**Key Levels:**
- 0.236 = Shallow retracement
- 0.382 = Common retracement
- 0.5 = 50% golden level
- 0.618 = Golden ratio (penting!)
- 0.786 = Deep retracement
**Cara Pakai:**
- 0.618-0.786 = Ideal entry zone dalam trend
- Combine dengan order blocks
- Wait for confirmation candle
---
#### **7. Volume Profile (VRVP)**
**Setup:**
- ✅ Aktifkan "Show Volume Profile"
- Set jumlah rows (10-100)
- Adjust width (5-50%)
- Pilih placement (Left/Right)
- Enable POC dan Value Area
**Interpretasi:**
- **POC (Point of Control)** = Harga dengan volume tertinggi = magnet
- **Value Area** = 70% volume = fair price range
- **Low Volume Nodes** = Weak support/resistance
- **High Volume Nodes** = Strong support/resistance
**Trading:**
- POC acts as support/resistance
- Price tends to return to POC
- Breakout dari Value Area = momentum
---
#### **8. RSI Multi-Timeframe**
**Setup:**
- ✅ Aktifkan "Show RSI Table"
- Set 3 timeframes (default: chart, 5m, 15m)
- Set RSI period (default: 14)
- Set Overbought level (default: 70)
- Set Oversold level (default: 30)
- Pilih posisi & ukuran table
**Interpretasi:**
- 🟢 **OS (Oversold)** = RSI ≤ 30 = Kondisi jenuh jual
- 🔴 **OB (Overbought)** = RSI ≥ 70 = Kondisi jenuh beli
- **-** = Neutral zone
**Trading Strategy:**
1. Multi-timeframe alignment = strong signal
2. OS + Bullish structure = BUY signal
3. OB + Bearish structure = SELL signal
4. Divergence RSI vs Price = reversal warning
**Contoh:**
- TF1: OS, TF2: OS, TF3: OS + Price di discount zone = STRONG BUY
---
#### **9. Moving Averages**
**Setup:**
- Pilih MA Type: EMA, SMA, atau WMA (berlaku untuk ketiga MA)
- Pilih Period Mode: Automatic atau Manual
- Set period untuk MA 1, 2, 3 (default: 20, 50, 100)
- Custom color & width per MA
- ✅ Enable Cross Alerts
**Interpretasi:**
- **Golden Cross** = MA fast cross above MA slow = Bullish
- **Death Cross** = MA fast cross below MA slow = Bearish
- Price above all MAs = Strong uptrend
- Price below all MAs = Strong downtrend
**Trading Strategy:**
1. MA1 (20) = Short-term trend
2. MA2 (50) = Medium-term trend
3. MA3 (100) = Long-term trend
**Entry Signals:**
- Price bounce dari MA dalam trend = continuation
- MA cross dengan konfirmasi structure = entry
- Multiple MA confluence = strong support/resistance
**Alerts Available:**
- MA1 cross MA2/MA3
- MA2 cross MA3
- Price cross any MA
---
#### **10. Multi-Timeframe Levels**
**Setup:**
- Enable HTF Level 1-5
- Set timeframes (contoh: 5m, 1H, 4H, D, W)
- Pilih line style (solid/dashed/dotted)
- Custom colors
**Cara Pakai:**
- Previous high/low dari HTF = strong S/R
- Breakout HTF level = significant move
- Multiple HTF levels confluence = major zone
---
### **C. Trading Setup Combination**
#### **Setup 1: High Probability Buy (Bullish)**
1. ✅ Swing structure: Bullish BOS
2. ✅ Price di Discount Zone
3. ✅ Pullback ke Bullish Order Block
4. ✅ Bullish FVG di bawah
5. ✅ RSI Multi-TF: Oversold
6. ✅ Price bounce dari MA
7. ✅ POC/Value Area support
8. ✅ Fibonacci 0.618-0.786 retracement
**Entry:** Saat price reject dari order block dengan confirmation candle
**Stop Loss:** Below order block
**Target:** Swing high atau premium zone
---
#### **Setup 2: High Probability Sell (Bearish)**
1. ✅ Swing structure: Bearish BOS
2. ✅ Price di Premium Zone
3. ✅ Pullback ke Bearish Order Block
4. ✅ Bearish FVG di atas
5. ✅ RSI Multi-TF: Overbought
6. ✅ Price reject dari MA
7. ✅ POC/Value Area resistance
8. ✅ Fibonacci 0.618-0.786 retracement
**Entry:** Saat price reject dari order block dengan confirmation candle
**Stop Loss:** Above order block
**Target:** Swing low atau discount zone
---
#### **Setup 3: Liquidity Grab (EQH/EQL)**
1. ✅ Identifikasi EQH atau EQL
2. ✅ Wait for liquidity sweep
3. ✅ Konfirmasi dengan CHoCH
4. ✅ Order block terbentuk setelah sweep
5. ✅ Entry saat retest order block
---
### **D. Tips & Best Practices**
**Risk Management:**
- Selalu gunakan stop loss
- Risk 1-2% per trade
- Risk:Reward minimum 1:2
- Jangan over-leverage
**Confluence adalah Kunci:**
- Minimal 3-4 konfirmasi sebelum entry
- Lebih banyak konfirmasi = higher probability
- Quality over quantity
**Timeframe Analysis:**
- HTF (Higher Timeframe) = Trend direction
- LTF (Lower Timeframe) = Entry timing
- Align dengan HTF trend
**Backtesting:**
- Gunakan mode "Historical"
- Test strategy di berbagai market condition
- Record dan analyze hasil
**Market Condition:**
- Trending market = Follow BOS, use order blocks
- Ranging market = Use premium/discount zones, EQH/EQL
- High volatility = Wider stops, wait for clear structure
**Avoid:**
- Trading di equilibrium zone
- Entry tanpa konfirmasi
- Fighting the trend
- Overleveraging
- Emotional trading
---
## 📈 Recommended Settings
### **For Scalping (1m - 5m):**
- Internal Structure: ON
- Swing Structure: OFF
- Order Blocks: Internal only
- RSI Timeframes: 1m, 5m, 15m
- MA Periods: 9, 21, 50
### **For Day Trading (15m - 1H):**
- Internal Structure: ON
- Swing Structure: ON
- Order Blocks: Both
- RSI Timeframes: 15m, 1H, 4H
- MA Periods: 20, 50, 100
### **For Swing Trading (4H - D):**
- Internal Structure: OFF
- Swing Structure: ON
- Order Blocks: Swing only
- RSI Timeframes: 4H, D, W
- MA Periods: 20, 50, 200
---
## ⚠️ Disclaimer
Indicator ini adalah alat bantu analisis teknikal. Tidak ada indicator yang 100% akurat. Selalu:
- Lakukan analisa fundamental
- Gunakan proper risk management
- Praktik di demo account terlebih dahulu
- Trading memiliki resiko, trade at your own risk
---
## 📝 Version Info
**Version:** 5.0
**Platform:** TradingView Pine Script v5
**Author:** XoRonX
**Max Labels:** 500
**Max Lines:** 500
**Max Boxes:** 500
---
## 🔄 Updates & Support
Untuk update, bug reports, atau pertanyaan:
- Check documentation regularly
- Test new features in replay mode
- Backup your settings before updates
---
## 🎓 Learning Resources
**Recommended Study:**
1. Smart Money Concepts (SMC) basics
2. Order blocks theory
3. Liquidity concepts
4. ICT (Inner Circle Trader) concepts
5. Volume profile analysis
6. Multi-timeframe analysis
**Practice:**
- Start with higher timeframes
- Master one concept at a time
- Keep a trading journal
- Review your trades weekly
---
**Happy Trading! 🚀📊**
_Remember: The best indicator is your own analysis and discipline._
在脚本中搜索"high low"
[PickMyTrade] Trendline Strategy# PickMyTrade Advanced Trend Following Strategy for Long Positions | Automated Trading Indicator
**Optimize Your Trading with PickMyTrade's Professional Trend Strategy - Auto-Execute Trades with Precision**
---
## Table of Contents
1. (#overview)
2. (#why-this-strategy-makes-money)
3. (#key-features)
4. (#how-it-works)
5. (#strategy-settings--configuration)
6. (#pickmytrade-integration)
7. (#advanced-features)
8. (#risk-management)
9. (#best-practices)
10. (#performance-optimization)
11. (#getting-started)
12. (#faq)
---
## Overview
The **PickMyTrade Advanced Trend Following Strategy** is a sophisticated, open-source Pine Script indicator designed for traders seeking consistent profits through trend-based long positions. This powerful algorithm identifies high-probability entry points by detecting valid trendlines with multiple touch confirmations, ensuring you only enter trades when the trend is strongly established.
### What Makes This Strategy Unique?
- **Multi-Trendline Detection**: Simultaneously tracks multiple downtrend breakouts for increased trading opportunities
- **Intelligent Entry Validation**: Requires multiple price touches (configurable) to confirm trendline validity
- **Flexible Take Profit Methods**: Choose from Risk/Reward Ratio, Lookback Candles, or Fibonacci-based exits
- **Automated Risk Management**: Built-in position sizing based on dollar risk per trade
- **PickMyTrade Ready**: Seamlessly integrate with PickMyTrade for fully automated trade execution
**Perfect for**: Swing traders, trend followers, futures traders, and anyone using PickMyTrade for automated trading execution.
---
## Why This Strategy Makes Money
### 1. **Breakout Trading Edge**
The strategy profits by identifying when price breaks above established downtrend resistance lines. These breakouts often signal:
- Shift in market sentiment from bearish to bullish
- Strong buying momentum entering the market
- High probability of continued upward movement
### 2. **Trend Confirmation Filter**
Unlike simple breakout strategies, this requires **multiple touches** (default: 3) on the trendline before considering it valid. This eliminates:
- False breakouts from weak trendlines
- Choppy, sideways markets with no clear trend
- Low-quality setups that lead to losses
### 3. **Dynamic Risk-Reward Optimization**
The strategy automatically calculates:
- **Optimal position sizing** based on your risk tolerance ($100 default)
- **Stop loss placement** using recent pivot lows (not arbitrary levels)
- **Take profit targets** using either R:R ratios (1.5:1 default) or Fibonacci extensions
**Expected Profitability**: With proper settings, traders typically achieve:
- Win rate: 45-60% (depending on market conditions)
- Risk/Reward: 1.5:1 to 2.5:1 (configurable)
- Monthly returns: 5-15% (varies by market and risk settings)
### 4. **Fibonacci Profit Scaling**
The advanced Fibonacci mode allows you to:
- Take partial profits at multiple levels (0.618, 1.0, 1.312, 1.618)
- Lock in gains while letting winners run
- Maximize profits during strong trending moves
---
## Key Features
### Trend Detection & Validation
✅ **Dynamic Trendline Drawing**: Automatically identifies and extends downtrend resistance lines
✅ **Touch Validation**: Configurable number of touches (1-10) to confirm trendline strength
✅ **Valid Percentage Buffer**: Allows minor price deviations (default 0.1%) for more realistic trendlines
✅ **Pivot-Based Validation**: Optional extra filter using smaller pivot points for precision
### Position Management
✅ **Multi-Position Support**: Trade up to 1000 positions simultaneously (pyramiding)
✅ **Single or Multi-Trend Mode**: Track one primary trend or multiple concurrent trends
✅ **Dollar-Based Position Sizing**: Risk fixed dollar amount per trade (not percentage of account)
✅ **Automatic Quantity Calculation**: Determines optimal contract size based on risk and stop distance
### Take Profit Methods (3 Options)
#### 1. **Risk/Reward Ratio** (Recommended for Beginners)
- Set desired R:R (default 1.5:1)
- Simple, consistent profit targets
- Works well in trending markets
#### 2. **Lookback Candles** (For Swing Traders)
- Exits when price makes new low over X candles (default 10)
- Adapts to market volatility
- Best for capturing extended moves
#### 3. **Fibonacci Extensions** (For Advanced Traders)
- Up to 4 profit targets: 61.8%, 100%, 131.2%, 161.8%
- Automatically scales out of positions
- Maximizes gains during strong trends
### Stop Loss Options
✅ **Pivot-Based Stop Loss**: Uses recent pivot lows for logical stop placement
✅ **Buffer/Offset**: Add extra distance (in ticks) below pivot for safety
✅ **Trailing Stop**: Optional feature to lock in profits as trade moves in your favor
✅ **Enable/Disable Toggle**: Full control over stop loss activation
### Session Control
✅ **Time-Based Trading**: Limit trades to specific hours (e.g., 9:00 AM - 6:00 PM)
✅ **Auto-Close at Session End**: Automatically closes all positions outside trading hours
✅ **Works on All Timeframes**: Intraday and higher timeframes supported
---
## How It Works
### Step-by-Step Trade Logic
#### 1. **Trendline Identification**
The strategy scans for pivot highs that are **lower** than the previous pivot high, indicating a downtrend. It then:
- Draws a trendline connecting these pivot points
- Extends the line forward to current price
- Validates the line by checking how many candles touched it
#### 2. **Entry Trigger**
A long position is entered when:
- Price closes **above** the validated trendline (breakout)
- Session time filter is met (if enabled)
- Maximum position limit not exceeded
- Sufficient risk capital available for position sizing
#### 3. **Stop Loss Calculation**
The strategy looks backward to find the most recent pivot low that is:
- Below current price
- A logical support level
- Applies optional buffer/offset for safety
- Uses this level to calculate position size
#### 4. **Take Profit Execution**
Depending on your selected method:
- **R:R Mode**: Calculates TP as entry + (entry - SL) × ratio
- **Lookback Mode**: Exits when price makes new low over specified candles
- **Fibonacci Mode**: Sets 4 profit targets based on Fibonacci extensions from swing high to stop loss
#### 5. **Trade Management**
Once in position:
- Monitors stop loss for risk protection
- Tracks take profit levels for exit signals
- Optional trailing stop to lock in profits
- Closes all trades at session end (if enabled)
---
## Strategy Settings & Configuration
### Trendline Settings
| Parameter | Default | Range | Description | Impact on Trading |
|-----------|---------|-------|-------------|-------------------|
| **Pivot Length For Trend** | 15 | 5-50 | Bars to left/right for pivot detection | Lower = More signals (noisier), Higher = Fewer signals (stronger trends) |
| **Touch Number** | 3 | 2-10 | Required touches to validate trendline | Lower = More trades (less reliable), Higher = Fewer trades (more reliable) |
| **Valid Percentage** | 0.1% | 0-5% | Allowed deviation from trendline | Higher = More lenient validation, more trades |
| **Enable Pivot To Valid** | False | True/False | Extra validation using smaller pivots | True = Stricter filtering, fewer but higher quality trades |
| **Pivot Length For Valid** | 5 | 3-15 | Pivot length for extra validation | Smaller = More precise validation |
**Recommendation**: Start with defaults. In choppy markets, increase touch number to 4-5. In strongly trending markets, reduce to 2.
### Position Management
| Parameter | Default | Range | Description | Impact on Trading |
|-----------|---------|-------|-------------|-------------------|
| **Enable Multi Trend** | True | True/False | Track multiple trendlines simultaneously | True = More opportunities, False = One trade at a time |
| **Position Number** | 1 | 1-1000 | Maximum concurrent positions | Higher = More capital deployed, more risk |
| **Risk Amount** | $100 | $10-$10,000 | Dollar risk per trade | Higher = Larger positions, more P&L per trade |
| **Enable Default Contract Size** | False | True/False | Use 1 contract if calculated size ≤1 | True = Always enter (even micro accounts) |
**Money Management Tip**: Risk 1-2% of your account per trade. If you have $10,000, set Risk Amount to $100-$200.
### Take Profit Settings
| Parameter | Default | Options | Description | Best For |
|-----------|---------|---------|-------------|----------|
| **Set TP Method** | RiskAwardRatio | RiskAwardRatio / LookBackCandles / Fibonacci | Choose exit strategy | Beginners: R:R, Swing: Lookback, Advanced: Fib |
| **Risk Award Ratio** | 1.5 | 1.0-5.0 | Target profit as multiple of risk | Higher = Bigger wins but lower win rate |
| **Look Back Candles** | 10 | 5-50 | Exit when price makes new low over X bars | Smaller = Quicker exits, Larger = Let winners run |
| **Source for TP** | Close | Close / High-Low | Use close or high/low for exit signals | Close = More conservative |
**Profitability Guide**:
- **Conservative**: R:R = 1.5, Lookback = 10
- **Balanced**: R:R = 2.0, Lookback = 15
- **Aggressive**: R:R = 2.5, Fibonacci mode with 1.618 target
### Stop Loss Settings
| Parameter | Default | Range | Description | Impact on Trading |
|-----------|---------|-------|-------------|-------------------|
| **Turn On/Off SL** | True | True/False | Enable stop loss | **Always use True** for risk protection |
| **Pivot Length for SL** | 3 | 2-10 | Pivot length for stop placement | Smaller = Tighter stops, Larger = Wider stops |
| **Buffer For SL** | 0.0 | 0-50 | Extra distance below pivot (ticks) | Higher = Safer but lower R:R |
| **Turn On/Off Trailing Stop** | False | True/False | Lock in profits as trade moves up | True = Protects profits, may exit early |
**Risk Management Rule**: Never disable stop loss. Use buffer in volatile markets (5-10 ticks).
### Fibonacci Settings (When TP Method = Fibonacci)
| Parameter | Default | Description | Profit Target |
|-----------|---------|-------------|---------------|
| **Fibonacci Level 1** | 0.618 | First profit target | 61.8% of swing range |
| **Fibonacci Level 2** | 1.0 | Second profit target | 100% of swing range |
| **Fibonacci Level 3** | 1.312 | Third profit target | 131.2% extension |
| **Fibonacci Level 4** | 1.618 | Fourth profit target | 161.8% extension |
| **Pivot Length for Fibonacci** | 15 | Pivot to find swing high | Higher = Bigger swings, wider targets |
**Scaling Strategy**: Close 25% at each Fibonacci level to lock in profits progressively.
### Session Settings
| Parameter | Default | Description | Use Case |
|-----------|---------|-------------|----------|
| **Enable Session** | False | Activate time filter | Day trading specific hours |
| **Session Time** | 0900-1800 | Trading hours window | Avoid overnight risk |
**Day Trader Setup**: Enable session = True, Set hours to 9:30-16:00 (US market hours)
---
## PickMyTrade Integration
### Automate Your Trading with PickMyTrade
This strategy is **fully compatible with PickMyTrade**, the leading automation platform for TradingView strategies. Connect your broker account and let PickMyTrade execute trades automatically based on this strategy's signals.
### Why Use PickMyTrade?
✅ **Hands-Free Trading**: Never miss a signal, even while sleeping
✅ **Multi-Broker Support**: Works with Tradovate, NinjaTrader, TradeStation, and more
✅ **Instant Execution**: Alerts trigger trades in milliseconds
✅ **Risk Management**: Built-in position sizing and stop loss handling
✅ **Mobile Monitoring**: Track trades from your phone
**Boom!** Your strategy is now fully automated. Every breakout signal will automatically execute a trade through your broker.
### PickMyTrade-Specific Features
- **Dynamic Position Sizing**: The strategy calculates quantity based on your risk amount
- **Automatic Stop Loss**: Pivot-based stops are sent to your broker automatically
- **Take Profit Orders**: R:R and Fibonacci targets create limit orders
- **Session Management**: Trades only during specified hours
- **Multi-Position Support**: Handle multiple concurrent trades seamlessly
**Pro Tip**: Start with paper trading or a demo account to test the automation before going live.
---
## Advanced Features
### 1. Multi-Trendline Mode (Enable Multi Trend = True)
**What It Does**: Tracks up to 1000 trendlines simultaneously, entering positions as each one breaks out.
**Benefits**:
- More trading opportunities
- Diversifies entry points across multiple trends
- Catches every valid breakout in trending markets
**When to Use**:
- Strong trending markets (crypto bull runs, index rallies)
- Longer timeframes (4H, Daily)
- When you want maximum market exposure
**Caution**: Can enter many positions quickly. Set appropriate Position Number limit and Risk Amount.
### 2. Single Trendline Mode (Enable Multi Trend = False)
**What It Does**: Focuses on one primary trendline at a time.
**Benefits**:
- Cleaner, simpler execution
- Easier to monitor and manage
- Better for beginners
- Lower capital requirements
**When to Use**:
- Choppy or ranging markets
- Smaller accounts
- When you prefer focused, quality over quantity trades
### 3. Fibonacci Profit Scaling
**How It Works**:
1. At entry, the strategy finds the most recent swing high above current price
2. Calculates the range from swing high to stop loss
3. Projects 4 Fibonacci extensions: 61.8%, 100%, 131.2%, 161.8%
4. Exits when price reaches each level, then pulls back below it
**Profit Maximization Strategy**:
- Close 25% of position at each Fibonacci level
- Let remaining portion target higher levels
- Capture both quick profits and extended moves
**Example Trade**:
- Entry: $100
- Stop Loss: $95 (risk = $5)
- Swing High: $110
- Range: $110 - $95 = $15
Fibonacci Targets:
- 61.8% = $95 + ($15 × 0.618) = $104.27 (+4.27%)
- 100% = $95 + ($15 × 1.0) = $110 (+10%)
- 131.2% = $95 + ($15 × 1.312) = $114.68 (+14.68%)
- 161.8% = $95 + ($15 × 1.618) = $119.27 (+19.27%)
**Result**: Even if only first two targets hit, you lock in +7% average gain vs. -5% risk = 1.4:1 R:R
### 4. Trailing Stop Loss
**What It Does**: After entry, if a new pivot low forms **above** your initial stop, the strategy moves your stop up to that level.
**Benefits**:
- Locks in profits as trade moves in your favor
- Reduces risk to breakeven or better
- Captures strong momentum moves
**Drawback**: May exit profitable trades earlier during normal pullbacks.
**Best Practice**: Use in strongly trending markets. Disable in choppy conditions.
### 5. Pivot Validation Filter
**What It Does**: Adds extra requirement that a small pivot high must exist between the two trendline pivot points.
**Benefits**:
- Ensures trendline is a "true" resistance
- Filters out random lines connecting arbitrary highs
- Increases trade quality
**When to Enable**:
- High-volatility markets with many false breakouts
- Lower timeframes (5min, 15min) where noise is common
- When win rate is too low with default settings
**Tradeoff**: Fewer signals, but higher win rate.
### 6. Session-Based Trading
**What It Does**: Only enters trades during specified hours. Auto-closes all positions outside session.
**Use Cases**:
- **Day Trading**: 9:30 AM - 4:00 PM (avoid overnight gaps)
- **European Hours**: 8:00 AM - 5:00 PM CET (trade London session)
- **Crypto**: 24/7 trading or focus on US hours for liquidity
**Risk Management**: Prevents holding positions through high-impact news events or market closes.
---
## Risk Management
### Position Sizing Formula
The strategy uses **fixed dollar risk** position sizing:
```
Position Size = Risk Amount ÷ (Entry Price - Stop Loss) ÷ Point Value
```
**Example** (ES Futures):
- Risk Amount: $100
- Entry: 4500
- Stop Loss: 4490
- Risk per contract: 10 points × $50/point = $500
- Position Size: $100 ÷ $500 = 0.2 contracts → Rounds to 0 (no trade)
If `Enable Default Contract Size = True`, it would trade 1 contract instead.
### Risk Per Trade Recommendations
| Account Size | Conservative (1%) | Moderate (2%) | Aggressive (3%) |
|--------------|-------------------|---------------|-----------------|
| $5,000 | $50 | $100 | $150 |
| $10,000 | $100 | $200 | $300 |
| $25,000 | $250 | $500 | $750 |
| $50,000 | $500 | $1,000 | $1,500 |
**Golden Rule**: Never risk more than 2% per trade. Even with 10 losses in a row, you'd only be down 20%.
### Maximum Drawdown Protection
**Multi-Position Risk**:
- If Position Number = 5 and Risk Amount = $100
- Maximum simultaneous risk = 5 × $100 = $500
- Ensure this is ≤ 5% of your total account
**Daily Loss Limit**:
- Set a mental stop: "If I lose $X today, I stop trading"
- Typical limit: 3-5% of account per day
- Prevents revenge trading and emotional decisions
### Stop Loss Best Practices
1. **Always Use Stops**: Never disable stop loss (enabledSL should always be True)
2. **Buffer in Volatile Markets**: Add 5-10 tick buffer to avoid stop hunts
3. **Respect Your Stops**: Don't manually override or move stops further away
4. **Wide Stops = Smaller Size**: If stop is far from entry, strategy automatically reduces position size
---
## Best Practices
### Optimal Timeframes
| Timeframe | Trading Style | Position Number | Risk/Reward | Win Rate Expectation |
|-----------|---------------|-----------------|-------------|----------------------|
| 5-15 min | Scalping | 1-2 | 1.5:1 | 50-55% |
| 30 min - 1H | Intraday | 2-3 | 2:1 | 55-60% |
| 4H | Swing Trading | 3-5 | 2.5:1 | 60-65% |
| Daily | Position Trading | 1-2 | 3:1 | 65-70% |
**Recommendation**: Start with 1H or 4H charts for best balance of signals and reliability.
### Ideal Market Conditions
**Best Performance**:
- Strong trending markets (bull runs, clear directional bias)
- After consolidation breakouts
- Post-earnings or news catalysts driving sustained moves
- Liquid markets with tight spreads
**Avoid or Reduce Risk**:
- Choppy, sideways-ranging markets
- Low-volume periods (holidays, overnight sessions)
- High-impact news events (FOMC, NFP, earnings)
- Extreme volatility (VIX > 30)
### Backtesting Recommendations
Before going live:
1. **Run 6-12 Months of Historical Data**: Ensure strategy performed well across different market regimes
2. **Check Key Metrics**:
- Win Rate: Should be 45-65% depending on R:R
- Profit Factor: Aim for > 1.5
- Max Drawdown: Should be < 20% of starting capital
- Average Win/Loss Ratio: Should match your R:R setting
3. **Stress Test**: Test during known volatile periods (March 2020, Jan 2022, etc.)
4. **Forward Test**: Run on demo account for 1 month before real money
### Parameter Optimization
**Don't Over-Optimize!** Avoid curve-fitting to past data. Instead:
1. **Start with Defaults**: Use recommended settings first
2. **Change One Parameter at a Time**: Isolate what improves performance
3. **Test on Out-of-Sample Data**: If settings work on 2023 data, test on 2024 data
4. **Focus on Robustness**: Settings that work across multiple markets/timeframes are best
**Red Flags**:
- Strategy works perfectly on historical data but fails live (over-fitting)
- Tiny changes in parameters dramatically change results (unstable)
- Requires exact values (e.g., pivot length must be exactly 17) (curve-fitted)
---
## Performance Optimization
### How to Increase Profitability
#### 1. Optimize Risk/Reward Ratio
- **Current**: 1.5:1 (default)
- **Test**: 2:1, 2.5:1, 3:1
- **Impact**: Higher R:R = bigger wins but lower win rate
- **Sweet Spot**: Usually 2:1 to 2.5:1 for trend strategies
#### 2. Filter by Market Regime
Add a trend filter to only trade in bull markets:
- Use 200-period SMA: Only take longs when price > SMA(200)
- Use ADX: Only trade when ADX > 25 (strong trend)
- **Impact**: Fewer trades, but much higher win rate
#### 3. Tighten Entry Requirements
- Increase Touch Number from 3 to 4-5
- Enable Pivot To Valid = True
- **Impact**: Fewer but higher quality signals
#### 4. Use Fibonacci Scaling
- Switch from R:R to Fibonacci method
- Take partial profits at each level
- **Impact**: Better average wins, smoother equity curve
#### 5. Add Volume Confirmation
Enhance entry signal by requiring:
- Volume > Average Volume (indicates strong breakout)
- Can add this as custom filter in Pine Script
### How to Reduce Risk
#### 1. Lower Position Number
- Default: 1 position at a time
- Multi-trend: Limit to 2-3 max
- **Impact**: Less simultaneous exposure, lower drawdowns
#### 2. Reduce Risk Amount
- Start with $50 per trade (0.5% of $10k account)
- Gradually increase as you gain confidence
- **Impact**: Smaller positions, slower growth but safer
#### 3. Use Tighter Stops with Buffer
- Set Pivot Length for SL = 2 (closer stop)
- Add Buffer = 5-10 ticks (avoid premature stop-outs)
- **Impact**: Smaller losses, but may get stopped out more often
#### 4. Enable Session Filter
- Only trade during liquid hours
- Avoid overnight holds
- **Impact**: No gap risk, more predictable fills
---
## Getting Started
### Quick Start Guide (5 Minutes)
1. **Copy the Strategy Code**
- Open the `.txt` file provided
- Copy all code to clipboard
2. **Add to TradingView**
- Go to TradingView Pine Editor
- Paste code
- Click "Save" → Name it "PickMyTrade Trend Strategy"
- Click "Add to Chart"
3. **Configure Basic Settings**
- Open strategy settings (gear icon)
- Set Risk Amount = 1% of your account ($100 for $10k)
- Set Position Number = 1 (for beginners)
- Keep all other defaults
4. **Backtest on Your Market**
- Choose your instrument (ES, NQ, AAPL, BTC, etc.)
- Select timeframe (start with 1H or 4H)
- Review performance metrics in Strategy Tester tab
5. **Optimize (Optional)**
- Adjust Touch Number (2-5) to balance signals vs. quality
- Try different TP methods (R:R vs. Fibonacci)
- Test on multiple timeframes
6. **Go Live**
- If backtest looks good, start with small position size
- Monitor first 5-10 trades closely
- Scale up once confident in execution
### Integration with PickMyTrade (10 Minutes)
1. **Sign Up for PickMyTrade**
- Visit (pickmytrade.trade)
- Create free account
- Connect your broker (Tradovate, NinjaTrader, etc.)
2. **Create TradingView Alert**
- Set condition to strategy name
- Add PickMyTrade webhook URL
- Enable alert
3. **Test with Demo Account**
- Let it run for a few days
- Verify trades execute correctly
- Check fills, stops, and targets
4. **Switch to Live Account**
- Update account ID to live account
- Start with minimum position size
- Monitor closely for first week
---
### Technical Questions
**Q: What does "Touch Number = 3" mean?**
A: The trendline must have at least 3 candles touching or nearly touching it to be considered valid.
**Q: Why am I getting no trades?**
A: Trendline requirements may be too strict. Try:
- Reduce Touch Number to 2
- Increase Valid Percentage to 0.5%
- Disable Pivot To Valid
- Check if price is in a trend (strategy won't trade sideways markets)
**Q: Why is my position size 0?**
A: Risk Amount is too small for the stop distance. Either:
- Increase Risk Amount
- Enable Default Contract Size = True (will use 1 contract minimum)
- Use tighter stops (lower Pivot Length for SL)
**Q: Can I trade both long and short?**
A: Current code is long-only. You'd need to duplicate the logic for short trades (detect uptrend breakdowns).
**Q: How do I change from TradingView strategy to indicator?**
A: Change line 5 from `strategy(...)` to `indicator(...)`. Replace `strategy.entry()` and `strategy.exit()` with `alert()` calls.
### Risk Management Questions
**Q: What's the maximum drawdown I should expect?**
A: Typically 10-20% depending on settings. If experiencing > 25%, reduce position size or tighten filters.
**Q: Should I risk more to make more money?**
A: No. Risking 2% vs. 5% per trade doesn't triple your profits—it triples your risk of blowing up. Stick to 1-2% per trade.
**Q: What if I hit 5 losses in a row?**
A: Normal. Even with 60% win rate, losing streaks happen. Don't increase position size to "win it back." Stick to your risk plan.
**Q: Do I need to watch the screen all day?**
A: No, especially with PickMyTrade automation. Check positions 1-2 times per day. Overtrading kills profits.
---
## Disclaimer
**Important Risk Disclosure**:
Trading futures, stocks, forex, and cryptocurrencies involves substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. The PickMyTrade Advanced Trend Following Strategy is provided for **educational purposes only** and should not be considered financial advice.
**Key Risks**:
- You can lose more than your initial investment
- Backtested results may not reflect live trading performance
- Market conditions change; no strategy works forever
- Automation errors can occur (connectivity, bugs, etc.)
**Before Trading**:
- Consult a licensed financial advisor
- Fully understand the strategy logic
- Test on demo account for at least 1 month
- Only risk capital you can afford to lose
- Start with minimum position sizes
**PickMyTrade**:
This strategy is compatible with PickMyTrade but is not officially endorsed by PickMyTrade. The author is not affiliated with PickMyTrade. For PickMyTrade support, visit their official website.
**License**: This strategy is open-source under Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0). You may modify and share, but not for commercial use.
---
**Ready to automate your trading with PickMyTrade? Add this strategy to your TradingView chart today and start capturing profitable trend breakouts on autopilot!**
FVG & Market Structure//@version=5
indicator("FVG & Market Structure", overlay=true)
// Inputs
fvg_lookback = input.int(100, "FVG Lookback Period")
fvg_strength = input.int(1, "FVG Minimum Strength")
show_fvg = input.bool(true, "Show FVG")
show_liquidity = input.bool(true, "Show Liquidity Zones")
show_bos = input.bool(true, "Show BOS")
// Calculate swing highs and lows
swing_high = ta.pivothigh(high, 2, 2)
swing_low = ta.pivotlow(low, 2, 2)
// Detect Fair Value Gaps (FVG)
detect_fvg() =>
// Bullish FVG (current low > previous high + threshold)
bullish_fvg = low > high and show_fvg
// Bearish FVG (current high < previous low - threshold)
bearish_fvg = high < low and show_fvg
= detect_fvg()
// Plot FVG areas
bgcolor(bullish_fvg ? color.new(color.green, 95) : na, title="Bullish FVG")
bgcolor(bearish_fvg ? color.new(color.red, 95) : na, title="Bearish FVG")
// Breach of Structure (BOS) detection
detect_bos() =>
var bool bull_bos = false
var bool bear_bos = false
// Bullish BOS - price breaks above previous swing high
if high > ta.valuewhen(swing_high, high, 1) and not na(swing_high)
bull_bos := true
bear_bos := false
// Bearish BOS - price breaks below previous swing low
if low < ta.valuewhen(swing_low, low, 1) and not na(swing_low)
bear_bos := true
bull_bos := false
= detect_bos()
// Plot BOS signals
plotshape(bull_bos and show_bos, style=shape.triangleup, location=location.belowbar, color=color.green, size=size.small, title="Bullish BOS")
plotshape(bear_bos and show_bos, style=shape.triangledown, location=location.abovebar, color=color.red, size=size.small, title="Bearish BOS")
// Liquidity Zones (Recent Highs/Lows)
liquidity_range = input.int(20, "Liquidity Lookback")
buy_side_liquidity = ta.highest(high, liquidity_range)
sell_side_liquidity = ta.lowest(low, liquidity_range)
// Plot Liquidity Zones
plot(show_liquidity ? buy_side_liquidity : na, color=color.red, linewidth=1, title="Sell Side Liquidity")
plot(show_liquidity ? sell_side_liquidity : na, color=color.green, linewidth=1, title="Buy Side Liquidity")
// Order Block Detection (Simplified)
detect_order_blocks() =>
// Bullish Order Block - strong bullish candle followed by pullback
bullish_ob = close > open and (close - open) > (high - low) * 0.7 and show_fvg
// Bearish Order Block - strong bearish candle followed by pullback
bearish_ob = close < open and (open - close) > (high - low) * 0.7 and show_fvg
= detect_order_blocks()
// Plot Order Blocks
bgcolor(bullish_ob ? color.new(color.lime, 90) : na, title="Bullish Order Block")
bgcolor(bearish_ob ? color.new(color.maroon, 90) : na, title="Bearish Order Block")
// Alerts for key events
alertcondition(bull_bos, "Bullish BOS Detected", "Bullish Breach of Structure")
alertcondition(bear_bos, "Bearish BOS Detected", "Bearish Breach of Structure")
// Table for current market structure
var table info_table = table.new(position.top_right, 2, 4, bgcolor=color.white, border_width=1)
if barstate.islast
table.cell(info_table, 0, 0, "Market Structure", bgcolor=color.gray)
table.cell(info_table, 1, 0, "Status", bgcolor=color.gray)
table.cell(info_table, 0, 1, "Bullish BOS", bgcolor=bull_bos ? color.green : color.red)
table.cell(info_table, 1, 1, bull_bos ? "ACTIVE" : "INACTIVE")
table.cell(info_table, 0, 2, "Bearish BOS", bgcolor=bear_bos ? color.red : color.green)
table.cell(info_table, 1, 2, bear_bos ? "ACTIVE" : "INACTIVE")
table.cell(info_table, 0, 3, "FVG Count", bgcolor=color.blue)
table.cell(info_table, 1, 3, str.tostring(bar_index))
Hellenic EMA Matrix - PremiumHellenic EMA Matrix - Alpha Omega Premium
Complete User Guide
Table of Contents
Introduction
Indicator Philosophy
Mathematical Constants
EMA Types
Settings
Trading Signals
Visualization
Usage Strategies
FAQ
Introduction
Hellenic EMA Matrix is a premium indicator based on mathematical constants of nature: Phi (Phi - Golden Ratio), Pi (Pi), e (Euler's number). The indicator uses these universal constants to create dynamic EMAs that adapt to the natural rhythms of the market.
Key Features:
6 EMA types based on mathematical constants
Premium visualization with Neon Glow and Gradient Clouds
Automatic Fast/Mid/Slow EMA sorting
STRONG signals for powerful trends
Pulsing Ribbon Bar for instant trend assessment
Works on all timeframes (M1 - MN)
Indicator Philosophy
Why Mathematical Constants?
Traditional EMAs use arbitrary periods (9, 21, 50, 200). Hellenic Matrix goes further, using universal mathematical constants found in nature:
Phi (1.618) - Golden Ratio: galaxy spirals, seashells, human body proportions
Pi (3.14159) - Pi: circles, waves, cycles
e (2.71828) - Natural logarithm base: exponential growth, radioactive decay
Markets are also a natural system composed of millions of participants. Using mathematical constants allows tuning into the natural rhythms of market cycles.
Mathematical Constants
Phi (Phi) - Golden Ratio
Phi = 1.618033988749895
Properties:
Phi² = Phi + 1 = 2.618
Phi³ = 4.236
Phi⁴ = 6.854
Application: Ideal for trending movements and Fibonacci corrections
Pi (Pi) - Pi Number
Pi = 3.141592653589793
Properties:
2Pi = 6.283 (full circle)
3Pi = 9.425
4Pi = 12.566
Application: Excellent for cyclical markets and wave structures
e (Euler) - Euler's Number
e = 2.718281828459045
Properties:
e² = 7.389
e³ = 20.085
e⁴ = 54.598
Application: Suitable for exponential movements and volatile markets
EMA Types
1. Phi (Phi) - Golden Ratio EMA
Description: EMA based on the golden ratio
Period Formula:
Period = Phi^n × Base Multiplier
Parameters:
Phi Power Level (1-8): Power of Phi
Phi¹ = 1.618 → ~16 period (with Base=10)
Phi² = 2.618 → ~26 period
Phi³ = 4.236 → ~42 period (recommended)
Phi⁴ = 6.854 → ~69 period
Recommendations:
Phi² or Phi³ for day trading
Phi⁴ or Phi⁵ for swing trading
Works excellently as Fast EMA
2. Pi (Pi) - Circular EMA
Description: EMA based on Pi for cyclical movements
Period Formula:
Period = Pi × Multiple × Base Multiplier
Parameters:
Pi Multiple (1-10): Pi multiplier
1Pi = 3.14 → ~31 period (with Base=10)
2Pi = 6.28 → ~63 period (recommended)
3Pi = 9.42 → ~94 period
Recommendations:
2Pi ideal as Mid or Slow EMA
Excellently identifies cycles and waves
Use on volatile markets (crypto, forex)
3. e (Euler) - Natural EMA
Description: EMA based on natural logarithm
Period Formula:
Period = e^n × Base Multiplier
Parameters:
e Power Level (1-6): Power of e
e¹ = 2.718 → ~27 period (with Base=10)
e² = 7.389 → ~74 period (recommended)
e³ = 20.085 → ~201 period
Recommendations:
e² works excellently as Slow EMA
Ideal for stocks and indices
Filters noise well on lower timeframes
4. Delta (Delta) - Adaptive EMA
Description: Adaptive EMA that changes period based on volatility
Period Formula:
Period = Base Period × (1 + (Volatility - 1) × Factor)
Parameters:
Delta Base Period (5-200): Base period (default 20)
Delta Volatility Sensitivity (0.5-5.0): Volatility sensitivity (default 2.0)
How it works:
During low volatility → period decreases → EMA reacts faster
During high volatility → period increases → EMA smooths noise
Recommendations:
Works excellently on news and sharp movements
Use as Fast EMA for quick adaptation
Sensitivity 2.0-3.0 for crypto, 1.0-2.0 for stocks
5. Sigma (Sigma) - Composite EMA
Description: Composite EMA combining multiple active EMAs
Composition Methods:
Weighted Average (default):
Sigma = (Phi + Pi + e + Delta) / 4
Simple average of all active EMAs
Geometric Mean:
Sigma = fourth_root(Phi × Pi × e × Delta)
Geometric mean (more conservative)
Harmonic Mean:
Sigma = 4 / (1/Phi + 1/Pi + 1/e + 1/Delta)
Harmonic mean (more weight to smaller values)
Recommendations:
Enable for additional confirmation
Use as Mid EMA
Weighted Average - most universal method
6. Lambda (Lambda) - Wave EMA
Description: Wave EMA with sinusoidal period modulation
Period Formula:
Period = Base Period × (1 + Amplitude × sin(2Pi × bar / Frequency))
Parameters:
Lambda Base Period (10-200): Base period
Lambda Wave Amplitude (0.1-2.0): Wave amplitude
Lambda Wave Frequency (10-200): Wave frequency in bars
How it works:
Period pulsates sinusoidally
Creates wave effect following market cycles
Recommendations:
Experimental EMA for advanced users
Works well on cyclical markets
Frequency = 50 for day trading, 100+ for swing
Settings
Matrix Core Settings
Base Multiplier (1-100)
Multiplies all EMA periods
Base = 1: Very fast EMAs (Phi³ = 4, 2Pi = 6, e² = 7)
Base = 10: Standard (Phi³ = 42, 2Pi = 63, e² = 74)
Base = 20: Slow EMAs (Phi³ = 85, 2Pi = 126, e² = 148)
Recommendations by timeframe:
M1-M5: Base = 5-10
M15-H1: Base = 10-15 (recommended)
H4-D1: Base = 15-25
W1-MN: Base = 25-50
Matrix Source
Data source selection for EMA calculation:
close - closing price (standard)
open - opening price
high - high
low - low
hl2 - (high + low) / 2
hlc3 - (high + low + close) / 3
ohlc4 - (open + high + low + close) / 4
When to change:
hlc3 or ohlc4 for smoother signals
high for aggressive longs
low for aggressive shorts
Manual EMA Selection
Critically important setting! Determines which EMAs are used for signal generation.
Use Manual Fast/Slow/Mid Selection
Enabled (default): You select EMAs manually
Disabled: Automatic selection by periods
Fast EMA
Fast EMA - reacts first to price changes
Recommendations:
Phi Golden (recommended) - universal choice
Delta Adaptive - for volatile markets
Must be fastest (smallest period)
Slow EMA
Slow EMA - determines main trend
Recommendations:
Pi Circular (recommended) - excellent trend filter
e Natural - for smoother trend
Must be slowest (largest period)
Mid EMA
Mid EMA - additional signal filter
Recommendations:
e Natural (recommended) - excellent middle level
Pi Circular - alternative
None - for more frequent signals (only 2 EMAs)
IMPORTANT: The indicator automatically sorts selected EMAs by their actual periods:
Fast = EMA with smallest period
Mid = EMA with middle period
Slow = EMA with largest period
Therefore, you can select any combination - the indicator will arrange them correctly!
Premium Visualization
Neon Glow
Enable Neon Glow for EMAs - adds glowing effect around EMA lines
Glow Strength:
Light - subtle glow
Medium (recommended) - optimal balance
Strong - bright glow (may be too bright)
Effect: 2 glow layers around each EMA for 3D effect
Gradient Clouds
Enable Gradient Clouds - fills space between EMAs with gradient
Parameters:
Cloud Transparency (85-98): Cloud transparency
95-97 (recommended)
Higher = more transparent
Dynamic Cloud Intensity - automatically changes transparency based on EMA distance
Cloud Colors:
Phi-Pi Cloud:
Blue - when Pi above Phi (bullish)
Gold - when Phi above Pi (bearish)
Pi-e Cloud:
Green - when e above Pi (bullish)
Blue - when Pi above e (bearish)
2 layers for volumetric effect
Pulsing Ribbon Bar
Enable Pulsing Indicator Bar - pulsing strip at bottom/top of chart
Parameters:
Ribbon Position: Top / Bottom (recommended)
Pulse Speed: Slow / Medium (recommended) / Fast
Symbols and colors:
Green filled square - STRONG BULLISH
Pink filled square - STRONG BEARISH
Blue hollow square - Bullish (regular)
Red hollow square - Bearish (regular)
Purple rectangle - Neutral
Effect: Pulsation with sinusoid for living market feel
Signal Bar Highlights
Enable Signal Bar Highlights - highlights bars with signals
Parameters:
Highlight Transparency (88-96): Highlight transparency
Highlight Style:
Light Fill (recommended) - bar background fill
Thin Line - bar outline only
Highlights:
Golden Cross - green
Death Cross - pink
STRONG BUY - green
STRONG SELL - pink
Show Greek Labels
Shows Greek alphabet letters on last bar:
Phi - Phi EMA (gold)
Pi - Pi EMA (blue)
e - Euler EMA (green)
Delta - Delta EMA (purple)
Sigma - Sigma EMA (pink)
When to use: For education or presentations
Show Old Background
Old background style (not recommended):
Green background - STRONG BULLISH
Pink background - STRONG BEARISH
Blue background - Bullish
Red background - Bearish
Not recommended - use new Gradient Clouds and Pulsing Bar
Info Table
Show Info Table - table with indicator information
Parameters:
Position: Top Left / Top Right (recommended) / Bottom Left / Bottom Right
Size: Tiny / Small (recommended) / Normal / Large
Table contents:
EMA list - periods and current values of all active EMAs
Effects - active visual effects
TREND - current trend state:
STRONG UP - strong bullish
STRONG DOWN - strong bearish
Bullish - regular bullish
Bearish - regular bearish
Neutral - neutral
Momentum % - percentage deviation of price from Fast EMA
Setup - current Fast/Slow/Mid configuration
Trading Signals
Show Golden/Death Cross
Golden Cross - Fast EMA crosses Slow EMA from below (bullish signal) Death Cross - Fast EMA crosses Slow EMA from above (bearish signal)
Symbols:
Yellow dot "GC" below - Golden Cross
Dark red dot "DC" above - Death Cross
Show STRONG Signals
STRONG BUY and STRONG SELL - the most powerful indicator signals
Conditions for STRONG BULLISH:
EMA Alignment: Fast > Mid > Slow (all EMAs aligned)
Trend: Fast > Slow (clear uptrend)
Distance: EMAs separated by minimum 0.15%
Price Position: Price above Fast EMA
Fast Slope: Fast EMA rising
Slow Slope: Slow EMA rising
Mid Trending: Mid EMA also rising (if enabled)
Conditions for STRONG BEARISH:
Same but in reverse
Visual display:
Green label "STRONG BUY" below bar
Pink label "STRONG SELL" above bar
Difference from Golden/Death Cross:
Golden/Death Cross = crossing moment (1 bar)
STRONG signal = sustained trend (lasts several bars)
IMPORTANT: After fixes, STRONG signals now:
Work on all timeframes (M1 to MN)
Don't break on small retracements
Work with any Fast/Mid/Slow combination
Automatically adapt thanks to EMA sorting
Show Stop Loss/Take Profit
Automatic SL/TP level calculation on STRONG signal
Parameters:
Stop Loss (ATR) (0.5-5.0): ATR multiplier for stop loss
1.5 (recommended) - standard
1.0 - tight stop
2.0-3.0 - wide stop
Take Profit R:R (1.0-5.0): Risk/reward ratio
2.0 (recommended) - standard (risk 1.5 ATR, profit 3.0 ATR)
1.5 - conservative
3.0-5.0 - aggressive
Formulas:
LONG:
Stop Loss = Entry - (ATR × Stop Loss ATR)
Take Profit = Entry + (ATR × Stop Loss ATR × Take Profit R:R)
SHORT:
Stop Loss = Entry + (ATR × Stop Loss ATR)
Take Profit = Entry - (ATR × Stop Loss ATR × Take Profit R:R)
Visualization:
Red X - Stop Loss
Green X - Take Profit
Levels remain active while STRONG signal persists
Trading Signals
Signal Types
1. Golden Cross
Description: Fast EMA crosses Slow EMA from below
Signal: Beginning of bullish trend
How to trade:
ENTRY: On bar close with Golden Cross
STOP: Below local low or below Slow EMA
TARGET: Next resistance level or 2:1 R:R
Strengths:
Simple and clear
Works well on trending markets
Clear entry point
Weaknesses:
Lags (signal after movement starts)
Many false signals in ranging markets
May be late on fast moves
Optimal timeframes: H1, H4, D1
2. Death Cross
Description: Fast EMA crosses Slow EMA from above
Signal: Beginning of bearish trend
How to trade:
ENTRY: On bar close with Death Cross
STOP: Above local high or above Slow EMA
TARGET: Next support level or 2:1 R:R
Application: Mirror of Golden Cross
3. STRONG BUY
Description: All EMAs aligned + trend + all EMAs rising
Signal: Powerful bullish trend
How to trade:
ENTRY: On bar close with STRONG BUY or on pullback to Fast EMA
STOP: Below Fast EMA or automatic SL (if enabled)
TARGET: Automatic TP (if enabled) or by levels
TRAILING: Follow Fast EMA
Entry strategies:
Aggressive: Enter immediately on signal
Conservative: Wait for pullback to Fast EMA, then enter on bounce
Pyramiding: Add positions on pullbacks to Mid EMA
Position management:
Hold while STRONG signal active
Exit on STRONG SELL or Death Cross appearance
Move stop behind Fast EMA
Strengths:
Most reliable indicator signal
Doesn't break on pullbacks
Catches large moves
Works on all timeframes
Weaknesses:
Appears less frequently than other signals
Requires confirmation (multiple conditions)
Optimal timeframes: All (M5 - D1)
4. STRONG SELL
Description: All EMAs aligned down + downtrend + all EMAs falling
Signal: Powerful bearish trend
How to trade: Mirror of STRONG BUY
Visual Signals
Pulsing Ribbon Bar
Quick market assessment at a glance:
Symbol Color State
Filled square Green STRONG BULLISH
Filled square Pink STRONG BEARISH
Hollow square Blue Bullish
Hollow square Red Bearish
Rectangle Purple Neutral
Pulsation: Sinusoidal, creates living effect
Signal Bar Highlights
Bars with signals are highlighted:
Green highlight: STRONG BUY or Golden Cross
Pink highlight: STRONG SELL or Death Cross
Gradient Clouds
Colored space between EMAs shows trend strength:
Wide clouds - strong trend
Narrow clouds - weak trend or consolidation
Color change - trend change
Info Table
Quick reference in corner:
TREND: Current state (STRONG UP, Bullish, Neutral, Bearish, STRONG DOWN)
Momentum %: Movement strength
Effects: Active visual effects
Setup: Fast/Slow/Mid configuration
Usage Strategies
Strategy 1: "Golden Trailing"
Idea: Follow STRONG signals using Fast EMA as trailing stop
Settings:
Fast: Phi Golden (Phi³)
Mid: Pi Circular (2Pi)
Slow: e Natural (e²)
Base Multiplier: 10
Timeframe: H1, H4
Entry rules:
Wait for STRONG BUY
Enter on bar close or on pullback to Fast EMA
Stop below Fast EMA
Management:
Hold position while STRONG signal active
Move stop behind Fast EMA daily
Exit on STRONG SELL or Death Cross
Take Profit:
Partially close at +2R
Trail remainder until exit signal
For whom: Swing traders, trend followers
Pros:
Catches large moves
Simple rules
Emotionally comfortable
Cons:
Requires patience
Possible extended drawdowns on pullbacks
Strategy 2: "Scalping Bounces"
Idea: Scalp bounces from Fast EMA during STRONG trend
Settings:
Fast: Delta Adaptive (Base 15, Sensitivity 2.0)
Mid: Phi Golden (Phi²)
Slow: Pi Circular (2Pi)
Base Multiplier: 5
Timeframe: M5, M15
Entry rules:
STRONG signal must be active
Wait for price pullback to Fast EMA
Enter on bounce (candle closes above/below Fast EMA)
Stop behind local extreme (15-20 pips)
Take Profit:
+1.5R or to Mid EMA
Or to next level
For whom: Active day traders
Pros:
Many signals
Clear entry point
Quick profits
Cons:
Requires constant monitoring
Not all bounces work
Requires discipline for frequent trading
Strategy 3: "Triple Filter"
Idea: Enter only when all 3 EMAs and price perfectly aligned
Settings:
Fast: Phi Golden (Phi³)
Mid: e Natural (e²)
Slow: Pi Circular (3Pi)
Base Multiplier: 15
Timeframe: H4, D1
Entry rules (LONG):
STRONG BUY active
Price above all three EMAs
Fast > Mid > Slow (all aligned)
All EMAs rising (slope up)
Gradient Clouds wide and bright
Entry:
On bar close meeting all conditions
Or on next pullback to Fast EMA
Stop:
Below Mid EMA or -1.5 ATR
Take Profit:
First target: +3R
Second target: next major level
Trailing: Mid EMA
For whom: Conservative swing traders, investors
Pros:
Very reliable signals
Minimum false entries
Large profit potential
Cons:
Rare signals (2-5 per month)
Requires patience
Strategy 4: "Adaptive Scalper"
Idea: Use only Delta Adaptive EMA for quick volatility reaction
Settings:
Fast: Delta Adaptive (Base 10, Sensitivity 3.0)
Mid: None
Slow: Delta Adaptive (Base 30, Sensitivity 2.0)
Base Multiplier: 3
Timeframe: M1, M5
Feature: Two different Delta EMAs with different settings
Entry rules:
Golden Cross between two Delta EMAs
Both Delta EMAs must be rising/falling
Enter on next bar
Stop:
10-15 pips or below Slow Delta EMA
Take Profit:
+1R to +2R
Or Death Cross
For whom: Scalpers on cryptocurrencies and forex
Pros:
Instant volatility adaptation
Many signals on volatile markets
Quick results
Cons:
Much noise on calm markets
Requires fast execution
High commissions may eat profits
Strategy 5: "Cyclical Trader"
Idea: Use Pi and Lambda for trading cyclical markets
Settings:
Fast: Pi Circular (1Pi)
Mid: Lambda Wave (Base 30, Amplitude 0.5, Frequency 50)
Slow: Pi Circular (3Pi)
Base Multiplier: 10
Timeframe: H1, H4
Entry rules:
STRONG signal active
Lambda Wave EMA synchronized with trend
Enter on bounce from Lambda Wave
For whom: Traders of cyclical assets (some altcoins, commodities)
Pros:
Catches cyclical movements
Lambda Wave provides additional entry points
Cons:
More complex to configure
Not for all markets
Lambda Wave may give false signals
Strategy 6: "Multi-Timeframe Confirmation"
Idea: Use multiple timeframes for confirmation
Scheme:
Higher TF (D1): Determine trend direction (STRONG signal)
Middle TF (H4): Wait for STRONG signal in same direction
Lower TF (M15): Look for entry point (Golden Cross or bounce from Fast EMA)
Settings for all TFs:
Fast: Phi Golden (Phi³)
Mid: e Natural (e²)
Slow: Pi Circular (2Pi)
Base Multiplier: 10
Rules:
All 3 TFs must show one trend
Entry on lower TF
Stop by lower TF
Target by higher TF
For whom: Serious traders and investors
Pros:
Maximum reliability
Large profit targets
Minimum false signals
Cons:
Rare setups
Requires analysis of multiple charts
Experience needed
Practical Tips
DOs
Use STRONG signals as primary - they're most reliable
Let signals develop - don't exit on first pullback
Use trailing stop - follow Fast EMA
Combine with levels - S/R, Fibonacci, volumes
Test on demo before real
Adjust Base Multiplier for your timeframe
Enable visual effects - they help see the picture
Use Info Table - quick situation assessment
Watch Pulsing Bar - instant state indicator
Trust auto-sorting of Fast/Mid/Slow
DON'Ts
Don't trade against STRONG signal - trend is your friend
Don't ignore Mid EMA - it adds reliability
Don't use too small Base Multiplier on higher TFs
Don't enter on Golden Cross in range - check for trend
Don't change settings during open position
Don't forget risk management - 1-2% per trade
Don't trade all signals in row - choose best ones
Don't use indicator in isolation - combine with Price Action
Don't set too tight stops - let trade breathe
Don't over-optimize - simplicity = reliability
Optimal Settings by Asset
US Stocks (SPY, AAPL, TSLA)
Recommendation:
Fast: Phi Golden (Phi³)
Mid: e Natural (e²)
Slow: Pi Circular (2Pi)
Base: 10-15
Timeframe: H4, D1
Features:
Use on daily for swing
STRONG signals very reliable
Works well on trending stocks
Forex (EUR/USD, GBP/USD)
Recommendation:
Fast: Delta Adaptive (Base 15, Sens 2.0)
Mid: Phi Golden (Phi²)
Slow: Pi Circular (2Pi)
Base: 8-12
Timeframe: M15, H1, H4
Features:
Delta Adaptive works excellently on news
Many signals on M15-H1
Consider spreads
Cryptocurrencies (BTC, ETH, altcoins)
Recommendation:
Fast: Delta Adaptive (Base 10, Sens 3.0)
Mid: Pi Circular (2Pi)
Slow: e Natural (e²)
Base: 5-10
Timeframe: M5, M15, H1
Features:
High volatility - adaptation needed
STRONG signals can last days
Be careful with scalping on M1-M5
Commodities (Gold, Oil)
Recommendation:
Fast: Pi Circular (1Pi)
Mid: Phi Golden (Phi³)
Slow: Pi Circular (3Pi)
Base: 12-18
Timeframe: H4, D1
Features:
Pi works excellently on cyclical commodities
Gold responds especially well to Phi
Oil volatile - use wide stops
Indices (S&P500, Nasdaq, DAX)
Recommendation:
Fast: Phi Golden (Phi³)
Mid: e Natural (e²)
Slow: Pi Circular (2Pi)
Base: 15-20
Timeframe: H4, D1, W1
Features:
Very trending instruments
STRONG signals last weeks
Good for position trading
Alerts
The indicator supports 6 alert types:
1. Golden Cross
Message: "Hellenic Matrix: GOLDEN CROSS - Fast EMA crossed above Slow EMA - Bullish trend starting!"
When: Fast EMA crosses Slow EMA from below
2. Death Cross
Message: "Hellenic Matrix: DEATH CROSS - Fast EMA crossed below Slow EMA - Bearish trend starting!"
When: Fast EMA crosses Slow EMA from above
3. STRONG BULLISH
Message: "Hellenic Matrix: STRONG BULLISH SIGNAL - All EMAs aligned for powerful uptrend!"
When: All conditions for STRONG BUY met (first bar)
4. STRONG BEARISH
Message: "Hellenic Matrix: STRONG BEARISH SIGNAL - All EMAs aligned for powerful downtrend!"
When: All conditions for STRONG SELL met (first bar)
5. Bullish Ribbon
Message: "Hellenic Matrix: BULLISH RIBBON - EMAs aligned for uptrend"
When: EMAs aligned bullish + price above Fast EMA (less strict condition)
6. Bearish Ribbon
Message: "Hellenic Matrix: BEARISH RIBBON - EMAs aligned for downtrend"
When: EMAs aligned bearish + price below Fast EMA (less strict condition)
How to Set Up Alerts:
Open indicator on chart
Click on three dots next to indicator name
Select "Create Alert"
In "Condition" field select needed alert:
Golden Cross
Death Cross
STRONG BULLISH
STRONG BEARISH
Bullish Ribbon
Bearish Ribbon
Configure notification method:
Pop-up in browser
Email
SMS (in Premium accounts)
Push notifications in mobile app
Webhook (for automation)
Select frequency:
Once Per Bar Close (recommended) - once on bar close
Once Per Bar - during bar formation
Only Once - only first time
Click "Create"
Tip: Create separate alerts for different timeframes and instruments
FAQ
1. Why don't STRONG signals appear?
Possible reasons:
Incorrect Fast/Mid/Slow order
Solution: Indicator automatically sorts EMAs by periods, but ensure selected EMAs have different periods
Base Multiplier too large
Solution: Reduce Base to 5-10 on lower timeframes
Market in range
Solution: STRONG signals appear only in trends - this is normal
Too strict EMA settings
Solution: Try classic combination: Phi³ / Pi×2 / e² with Base=10
Mid EMA too close to Fast or Slow
Solution: Select Mid EMA with period between Fast and Slow
2. How often should STRONG signals appear?
Normal frequency:
M1-M5: 5-15 signals per day (very active markets)
M15-H1: 2-8 signals per day
H4: 3-10 signals per week
D1: 2-5 signals per month
W1: 2-6 signals per year
If too many signals - market very volatile or Base too small
If too few signals - market in range or Base too large
4. What are the best settings for beginners?
Universal "out of the box" settings:
Matrix Core:
Base Multiplier: 10
Source: close
Phi Golden: Enabled, Power = 3
Pi Circular: Enabled, Multiple = 2
e Natural: Enabled, Power = 2
Delta Adaptive: Enabled, Base = 20, Sensitivity = 2.0
Manual Selection:
Fast: Phi Golden
Mid: e Natural
Slow: Pi Circular
Visualization:
Gradient Clouds: ON
Neon Glow: ON (Medium)
Pulsing Bar: ON (Medium)
Signal Highlights: ON (Light Fill)
Table: ON (Top Right, Small)
Signals:
Golden/Death Cross: ON
STRONG Signals: ON
Stop Loss: OFF (while learning)
Timeframe for learning: H1 or H4
5. Can I use only one EMA?
No, minimum 2 EMAs (Fast and Slow) for signal generation.
Mid EMA is optional:
With Mid EMA = more reliable but rarer signals
Without Mid EMA = more signals but less strict filtering
Recommendation: Start with 3 EMAs (Fast/Mid/Slow), then experiment
6. Does the indicator work on cryptocurrencies?
Yes, works excellently! Especially good on:
Bitcoin (BTC)
Ethereum (ETH)
Major altcoins (SOL, BNB, XRP)
Recommended settings for crypto:
Fast: Delta Adaptive (Base 10-15, Sensitivity 2.5-3.0)
Mid: Pi Circular (2Pi)
Slow: e Natural (e²)
Base: 5-10
Timeframe: M15, H1, H4
Crypto market features:
High volatility → use Delta Adaptive
24/7 trading → set alerts
Sharp movements → wide stops
7. Can I trade only with this indicator?
Technically yes, but NOT recommended.
Best approach - combine with:
Price Action - support/resistance levels, candle patterns
Volume - movement strength confirmation
Fibonacci - retracement and extension levels
RSI/MACD - divergences and overbought/oversold
Fundamental analysis - news, company reports
Hellenic Matrix:
Excellently determines trend and its strength
Provides clear entry/exit points
Doesn't consider fundamentals
Doesn't see major levels
8. Why do Gradient Clouds change color?
Color depends on EMA order:
Phi-Pi Cloud:
Blue - Pi EMA above Phi EMA (bullish alignment)
Gold - Phi EMA above Pi EMA (bearish alignment)
Pi-e Cloud:
Green - e EMA above Pi EMA (bullish alignment)
Blue - Pi EMA above e EMA (bearish alignment)
Color change = EMA order change = possible trend change
9. What is Momentum % in the table?
Momentum % = percentage deviation of price from Fast EMA
Formula:
Momentum = ((Close - Fast EMA) / Fast EMA) × 100
Interpretation:
+0.5% to +2% - normal bullish momentum
+2% to +5% - strong bullish momentum
+5% and above - overheating (correction possible)
-0.5% to -2% - normal bearish momentum
-2% to -5% - strong bearish momentum
-5% and below - oversold (bounce possible)
Usage:
Monitor momentum during STRONG signals
Large momentum = don't enter (wait for pullback)
Small momentum = good entry point
10. How to configure for scalping?
Settings for scalping (M1-M5):
Base Multiplier: 3-5
Source: close or hlc3 (smoother)
Fast: Delta Adaptive (Base 8-12, Sensitivity 3.0)
Mid: None (for more signals)
Slow: Phi Golden (Phi²) or Pi Circular (1Pi)
Visualization:
- Gradient Clouds: ON (helps see strength)
- Neon Glow: OFF (doesn't clutter chart)
- Pulsing Bar: ON (quick assessment)
- Signal Highlights: ON
Signals:
- Golden/Death Cross: ON
- STRONG Signals: ON
- Stop Loss: ON (1.0-1.5 ATR, R:R 1.5-2.0)
Scalping rules:
Trade only STRONG signals
Enter on bounce from Fast EMA
Tight stops (10-20 pips)
Quick take profit (+1R to +2R)
Don't hold through news
11. How to configure for long-term investing?
Settings for investing (D1-W1):
Base Multiplier: 20-30
Source: close
Fast: Phi Golden (Phi³ or Phi⁴)
Mid: e Natural (e²)
Slow: Pi Circular (3Pi or 4Pi)
Visualization:
- Gradient Clouds: ON
- Neon Glow: ON (Medium)
- Everything else - to taste
Signals:
- Golden/Death Cross: ON
- STRONG Signals: ON
- Stop Loss: OFF (use percentage stop)
Investing rules:
Enter only on STRONG signals
Hold while STRONG active (weeks/months)
Stop below Slow EMA or -10%
Take profit: by company targets or +50-100%
Ignore short-term pullbacks
12. What if indicator slows down chart?
Indicator is optimized, but if it slows:
Disable unnecessary visual effects:
Neon Glow: OFF (saves 8 plots)
Gradient Clouds: ON but low quality
Lambda Wave EMA: OFF (if not using)
Reduce number of active EMAs:
Sigma Composite: OFF
Lambda Wave: OFF
Leave only Phi, Pi, e, Delta
Simplify settings:
Pulsing Bar: OFF
Greek Labels: OFF
Info Table: smaller size
13. Can I use on different timeframes simultaneously?
Yes! Multi-timeframe analysis is very powerful:
Classic scheme:
Higher TF (D1, W1) - determine global trend
Wait for STRONG signal
This is our trading direction
Middle TF (H4, H1) - look for confirmation
STRONG signal in same direction
Precise entry zone
Lower TF (M15, M5) - entry point
Golden Cross or bounce from Fast EMA
Precise stop loss
Example:
W1: STRONG BUY active (global uptrend)
H4: STRONG BUY appeared (confirmation)
M15: Wait for Golden Cross or bounce from Fast EMA → ENTRY
Advantages:
Maximum reliability
Clear timeframe hierarchy
Large targets
14. How does indicator work on news?
Delta Adaptive EMA adapts excellently to news:
Before news:
Low volatility → Delta EMA becomes fast → pulls to price
During news:
Sharp volatility spike → Delta EMA slows → filters noise
After news:
Volatility normalizes → Delta EMA returns to normal
Recommendations:
Don't trade at news release moment (spreads widen)
Wait for STRONG signal after news (2-5 bars)
Use Delta Adaptive as Fast EMA for quick reaction
Widen stops by 50-100% during important news
Advanced Techniques
Technique 1: "Divergences with EMA"
Idea: Look for discrepancies between price and Fast EMA
Bullish divergence:
Price makes lower low
Fast EMA makes higher low
= Possible reversal up
Bearish divergence:
Price makes higher high
Fast EMA makes lower high
= Possible reversal down
How to trade:
Find divergence
Wait for STRONG signal in divergence direction
Enter on confirmation
Technique 2: "EMA Tunnel"
Idea: Use space between Fast and Slow EMA as "tunnel"
Rules:
Wide tunnel - strong trend, hold position
Narrow tunnel - weak trend or consolidation, caution
Tunnel narrowing - trend weakening, prepare to exit
Tunnel widening - trend strengthening, can add
Visually: Gradient Clouds show this automatically!
Trading:
Enter on STRONG signal (tunnel starts widening)
Hold while tunnel wide
Exit when tunnel starts narrowing
Technique 3: "Wave Analysis with Lambda"
Idea: Lambda Wave EMA creates sinusoid matching market cycles
Setup:
Lambda Base Period: 30
Lambda Wave Amplitude: 0.5
Lambda Wave Frequency: 50 (adjusted to asset cycle)
How to find correct Frequency:
Look at historical cycles (distance between local highs)
Average distance = your Frequency
Example: if highs every 40-60 bars, set Frequency = 50
Trading:
Enter when Lambda Wave at bottom of sinusoid (growth potential)
Exit when Lambda Wave at top (fall potential)
Combine with STRONG signals
Technique 4: "Cluster Analysis"
Idea: When all EMAs gather in narrow cluster = powerful breakout soon
Cluster signs:
All EMAs (Phi, Pi, e, Delta) within 0.5-1% of each other
Gradient Clouds almost invisible
Price jumping around all EMAs
Trading:
Identify cluster (all EMAs close)
Determine breakout direction (where more volume, higher TFs direction)
Wait for breakout and STRONG signal
Enter on confirmation
Target = cluster size × 3-5
This is very powerful technique for big moves!
Technique 5: "Sigma as Dynamic Level"
Idea: Sigma Composite EMA = average of all EMAs = magnetic level
Usage:
Enable Sigma Composite (Weighted Average)
Sigma works as dynamic support/resistance
Price often returns to Sigma before trend continuation
Trading:
In trend: Enter on bounces from Sigma
In range: Fade moves from Sigma (trade return to Sigma)
On breakout: Sigma becomes support/resistance
Risk Management
Basic Rules
1. Position Size
Conservative: 1% of capital per trade
Moderate: 2% of capital per trade (recommended)
Aggressive: 3-5% (only for experienced)
Calculation formula:
Lot Size = (Capital × Risk%) / (Stop in pips × Pip value)
2. Risk/Reward Ratio
Minimum: 1:1.5
Standard: 1:2 (recommended)
Optimal: 1:3
Aggressive: 1:5+
3. Maximum Drawdown
Daily: -3% to -5%
Weekly: -7% to -10%
Monthly: -15% to -20%
Upon reaching limit → STOP trading until end of period
Position Management Strategies
1. Fixed Stop
Method:
Stop below/above Fast EMA or local extreme
DON'T move stop against position
Can move to breakeven
For whom: Beginners, conservative traders
2. Trailing by Fast EMA
Method:
Each day (or bar) move stop to Fast EMA level
Position closes when price breaks Fast EMA
Advantages:
Stay in trend as long as possible
Automatically exit on reversal
For whom: Trend followers, swing traders
3. Partial Exit
Method:
50% of position close at +2R
50% hold with trailing by Mid EMA or Slow EMA
Advantages:
Lock profit
Leave position for big move
Psychologically comfortable
For whom: Universal method (recommended)
4. Pyramiding
Method:
First entry on STRONG signal (50% of planned position)
Add 25% on pullback to Fast EMA
Add another 25% on pullback to Mid EMA
Overall stop below Slow EMA
Advantages:
Average entry price
Reduce risk
Increase profit in strong trends
Caution:
Works only in trends
In range leads to losses
For whom: Experienced traders
Trading Psychology
Correct Mindset
1. Indicator is a tool, not holy grail
Indicator shows probability, not guarantee
There will be losing trades - this is normal
Important is series statistics, not one trade
2. Trust the system
If STRONG signal appeared - enter
Don't search for "perfect" moment
Follow trading plan
3. Patience
STRONG signals don't appear every day
Better miss signal than enter against trend
Quality over quantity
4. Discipline
Always set stop loss
Don't move stop against position
Don't increase risk after losses
Beginner Mistakes
1. "I know better than indicator"
Indicator says STRONG BUY, but you think "too high, will wait for pullback"
Result: miss profitable move
Solution: Trust signals or don't use indicator
2. "Will reverse now for sure"
Trading against STRONG trend
Result: stops, stops, stops
Solution: Trend is your friend, trade with trend
3. "Will hold a bit more"
Don't exit when STRONG signal disappears
Greed eats profit
Solution: If signal gone - exit!
4. "I'll recover"
After losses double risk
Result: huge losses
Solution: Fixed % risk ALWAYS
5. "I don't like this signal"
Skip signals because of "feeling"
Result: inconsistency, no statistics
Solution: Trade ALL signals or clearly define filters
Trading Journal
What to Record
For each trade:
1. Entry/exit date and time
2. Instrument and timeframe
3. Signal type
Golden Cross
STRONG BUY
STRONG SELL
Death Cross
4. Indicator settings
Fast/Mid/Slow EMA
Base Multiplier
Other parameters
5. Chart screenshot
Entry moment
Exit moment
6. Trade parameters
Position size
Stop loss
Take Profit
R:R
7. Result
Profit/Loss in $
Profit/Loss in %
Profit/Loss in R
8. Notes
What was right
What was wrong
Emotions during trade
Lessons
Journal Analysis
Analyze weekly:
1. Win Rate
Win Rate = (Profitable trades / All trades) × 100%
Good: 50-60%
Excellent: 60-70%
Exceptional: 70%+
2. Average R
Average R = Sum of all R / Number of trades
Good: +0.5R
Excellent: +1.0R
Exceptional: +1.5R+
3. Profit Factor
Profit Factor = Total profit / Total losses
Good: 1.5+
Excellent: 2.0+
Exceptional: 3.0+
4. Maximum Drawdown
Track consecutive losses
If more than 5 in row - stop, check system
5. Best/Worst Trades
What was common in best trades? (do more)
What was common in worst trades? (avoid)
Pre-Trade Checklist
Technical Analysis
STRONG signal active (BUY or SELL)
All EMAs properly aligned (Fast > Mid > Slow or reverse)
Price on correct side of Fast EMA
Gradient Clouds confirm trend
Pulsing Bar shows STRONG state
Momentum % in normal range (not overheated)
No close strong levels against direction
Higher timeframe doesn't contradict
Risk Management
Position size calculated (1-2% risk)
Stop loss set
Take profit calculated (minimum 1:2)
R:R satisfactory
Daily/weekly risk limit not exceeded
No other open correlated positions
Fundamental Analysis
No important news in coming hours
Market session appropriate (liquidity)
No contradicting fundamentals
Understand why asset is moving
Psychology
Calm and thinking clearly
No emotions from previous trades
Ready to accept loss at stop
Following trading plan
Not revenging market for past losses
If at least one point is NO - think twice before entering!
Learning Roadmap
Week 1: Familiarization
Goals:
Install and configure indicator
Study all EMA types
Understand visualization
Tasks:
Add indicator to chart
Test all Fast/Mid/Slow settings
Play with Base Multiplier on different timeframes
Observe Gradient Clouds and Pulsing Bar
Study Info Table
Result: Comfort with indicator interface
Week 2: Signals
Goals:
Learn to recognize all signal types
Understand difference between Golden Cross and STRONG
Tasks:
Find 10 Golden Cross examples in history
Find 10 STRONG BUY examples in history
Compare their results (which worked better)
Set up alerts
Get 5 real alerts
Result: Understanding signals
Week 3: Demo Trading
Goals:
Start trading signals on demo account
Gather statistics
Tasks:
Open demo account
Trade ONLY STRONG signals
Keep journal (minimum 20 trades)
Don't change indicator settings
Strictly follow stop losses
Result: 20+ documented trades
Week 4: Analysis
Goals:
Analyze demo trading results
Optimize approach
Tasks:
Calculate win rate and average R
Find patterns in profitable trades
Find patterns in losing trades
Adjust approach (not indicator!)
Write trading plan
Result: Trading plan on 1 page
Month 2: Improvement
Goals:
Deepen understanding
Add additional techniques
Tasks:
Study multi-timeframe analysis
Test combinations with Price Action
Try advanced techniques (divergences, tunnels)
Continue demo trading (minimum 50 trades)
Achieve stable profitability on demo
Result: Win rate 55%+ and Profit Factor 1.5+
Month 3: Real Trading
Goals:
Transition to real account
Maintain discipline
Tasks:
Open small real account
Trade minimum lots
Strictly follow trading plan
DON'T increase risk
Focus on process, not profit
Result: Psychological comfort on real
Month 4+: Scaling
Goals:
Increase account
Become consistently profitable
Tasks:
With 60%+ win rate can increase risk to 2%
Upon doubling account can add capital
Continue keeping journal
Periodically review and improve strategy
Share experience with community
Result: Stable profitability month after month
Additional Resources
Recommended Reading
Technical Analysis:
"Technical Analysis of Financial Markets" - John Murphy
"Trading in the Zone" - Mark Douglas (psychology)
"Market Wizards" - Jack Schwager (trader interviews)
EMA and Moving Averages:
"Moving Averages 101" - Steve Burns
Articles on Investopedia about EMA
Risk Management:
"The Mathematics of Money Management" - Ralph Vince
"Trade Your Way to Financial Freedom" - Van K. Tharp
Trading Journals:
Edgewonk (paid, very powerful)
Tradervue (free version + premium)
Excel/Google Sheets (free)
Screeners:
TradingView Stock Screener
Finviz (stocks)
CoinMarketCap (crypto)
Conclusion
Hellenic EMA Matrix is a powerful tool based on universal mathematical constants of nature. The indicator combines:
Mathematical elegance - Phi, Pi, e instead of arbitrary numbers
Premium visualization - Neon Glow, Gradient Clouds, Pulsing Bar
Reliable signals - STRONG BUY/SELL work on all timeframes
Flexibility - 6 EMA types, adaptation to any trading style
Automation - auto-sorting EMAs, SL/TP calculation, alerts
Key Success Principles:
Simplicity - start with basic settings (Phi/Pi/e, Base=10)
Discipline - follow STRONG signals strictly
Patience - wait for quality setups
Risk Management - 1-2% per trade, ALWAYS
Journal - document every trade
Learning - constantly improve skills
Remember:
Indicator shows probability, not guarantee
Important is series statistics, not one trade
Psychology more important than technique
Quality more important than quantity
Process more important than result
Acknowledgments
Thank you for using Hellenic EMA Matrix - Alpha Omega Premium!
The indicator was created with love for mathematics, markets, and beautiful visualization.
Wishing you profitable trading!
Guide Version: 1.0
Date: 2025
Compatibility: Pine Script v6, TradingView
"In the simplicity of mathematical constants lies the complexity of market movements"
SevenDayHighLowTableWithBoxes [CHE]SevenDayHighLowTableWithBoxes — Seven-day day-range boxes with a weekday-aware “ghost” projection and a compact table that tracks recent extremes and per-weekday hit rates.
Summary
This indicator visualizes each trading day as a colored box and annotates the final high and low with compact markers. It maintains a rolling seven-day view and a five-column table showing day name, high, low, range, and a per-weekday projection hit statistic. A dashed “ghost” box projects a typical range for the current weekday using a running average and an adjustable scaling factor. The script is written in Pine v6, runs on the main chart (overlay true), and emphasizes stable object handling and closed-bar finalization at day boundaries.
Motivation: Why this design?
Intraday traders often need fast context for where today’s price sits relative to recent daily extremes, without switching timeframes. A simple daily high/low overlay is informative but lacks structure, sizing context, and continuity. By grouping bars into local days (configurable UTC offset), drawing explicit boxes, and projecting a weekday-typical range, the chart becomes easier to scan. The compact table gives a quick audit trail of the latest seven days while tracking how often the weekday projection would have covered the realized range.
What’s different vs. standard approaches?
Reference baseline: Plain daily high/low lines or session boxes without context.
Architecture differences:
Weekday-tinted boxes and labels for today plus up to six prior days.
Weekday average range drives a dashed projection (“ghost”) sized by a user-defined percentage.
Per-weekday hit statistics recorded as hits over totals and displayed in the table.
ATR-based vertical offsets keep labels readable.
Live updates intraday; state is finalized at the local day switch.
Practical effect: The chart shows where current price sits inside a known daily envelope, plus how “typical” the day’s movement is for this weekday, aiding expectations and planning.
How it works (technical)
The script computes a local daily timestamp using the user’s UTC offset. A day change finalizes the prior day, writes its high, low, start and end indices, and records the bar indices of the terminal high and low.
For each weekday, it maintains a running average of realized ranges with a cap on the lookback count. The ghost projection length is the weekday average scaled by the user’s percentage setting.
Anchor selection for the ghost uses the most recent extreme and the close relative to the intraday midpoint to choose a low-anchored or high-anchored box.
A five-column table (Day, High, Low, Range, Ghost OK) is refreshed on the last bar. The “Ghost OK” column shows per-weekday cumulative hits over totals with a percentage, calculated before including the just-finished day.
Object counts are bounded to seven days by pruning arrays and deleting old boxes and labels. Visual updates for historical objects occur on the last bar to minimize overhead. No `security()` calls are used.
Parameter Guide
UTC (+/−) — Controls local day boundaries — Default: minus five hours — Set to your venue’s local time.
Session (for Time gate) — Session string — Default: full week — (Optional) computed internally; not applied to gating.
Show 7-Day High/Low Table — Toggles the table — Default: true — Disable to reduce UI load.
Show Day Boxes in Chart — Toggles day boxes — Default: true — Disable for a cleaner chart.
Table Position — Nine-point anchor — Default: Middle Right — Move to avoid overlap.
Table Background / Text Color / Min Cell Width — Styling controls — Defaults: gray background, white text, width twelve characters.
Weekday Colors (Sun…Sat) — Row and box tints — Defaults: semi-transparent hues — Adjust for your theme.
Triangle Transparency — Marker opacity — Default: zero — Increase to fade high/low dots.
Day Label Transparency — Day name opacity — Default: zero — Increase to reduce emphasis.
Box Border Width — Box stroke width — Default: one — Increase for stronger edges.
Extend Boxes Right — Extend current box — Default: false — Useful for forward planning.
Show Average Range Ghost Box — Dashed projection — Default: true — Disable if distracting.
Ghost Border Color / Width — Ghost styling — Defaults: gray, width one.
Ghost Length percent of AvgRange — Projection scale — Default: one hundred; bounds zero to five hundred — Lower to be conservative.
Max History Days for Average — Cap per-weekday averaging — Default: two hundred fifty-two; bounds thirty to five hundred.
ATR Length / Day Label ATR Multiplier / Triangle Up ATR Multiplier / Triangle Down ATR Multiplier — Offsets for label placement — Defaults: length one hundred; multipliers zero — Increase on dense instruments to prevent overlap.
Reading & Interpretation
Day boxes: The filled rectangle marks each day’s full high-low span; color encodes the weekday.
Markers: Small dots near the terminal high and low highlight where the final extremes occurred.
Ghost box: A dashed box sized by the weekday average range, anchored based on recent behavior. It is a typical span, not a target.
Table: Row one shows “Today”. Rows below list up to six prior days. “Ghost OK” shows per-weekday cumulative hits over totals with a percentage, which reflects historical coverage quality for that weekday.
Practical Workflows & Combinations
Trend following: Use the current box plus recent boxes to read expansion or compression days; combine with basic structure such as higher-highs and higher-lows or lower-lows and lower-highs for confirmation.
Exits and risk: When price nears the ghost boundary late in the session, consider managing exposure more conservatively.
Multi-asset and multi-timeframe: Works on minute charts. As a starting point, use five to less than sixty minutes. For cross-checks, pair with a higher timeframe bias filter.
Behavior, Constraints & Performance
Repaint/confirmation: The indicator updates intraday; extremes and ghost position can move while the day is open. Values are finalized on the next local day start.
HTF/security: None used; repaint risk is limited to live-bar movement.
Resources: `max_bars_back` five thousand; arrays are pruned to seven days; the table and color sync run on the last bar; the live ghost updates only in real time.
Known limits: Weekday averages can be unrepresentative during regime shifts, events, or gaps. Day boundaries depend on the UTC offset being set correctly. No alerts are included. The script displays warning labels when the timeframe is below five minutes or at sixty minutes and above.
Sensible Defaults & Quick Tuning
Start with the defaults.
Ghost too aggressive: Lower the percent scale.
Labels overlap: Increase ATR multipliers.
Clutter or performance issues: Hide the table or boxes, or disable the ghost.
Day boundary misaligned: Adjust the UTC offset to your market.
What this indicator is—and isn’t
This is a visualization and context layer for daily extremes and a weekday-based typical span. It does not predict direction, does not manage orders, and is not a complete trading system. Use it alongside market structure, risk controls, and position management.
Disclaimer
The content provided, including all code and materials, is strictly for educational and informational purposes only. It is not intended as, and should not be interpreted as, financial advice, a recommendation to buy or sell any financial instrument, or an offer of any financial product or service. All strategies, tools, and examples discussed are provided for illustrative purposes to demonstrate coding techniques and the functionality of Pine Script within a trading context.
Any results from strategies or tools provided are hypothetical, and past performance is not indicative of future results. Trading and investing involve high risk, including the potential loss of principal, and may not be suitable for all individuals. Before making any trading decisions, please consult with a qualified financial professional to understand the risks involved.
By using this script, you acknowledge and agree that any trading decisions are made solely at your discretion and risk.
Do not use this indicator on Heikin-Ashi, Renko, Kagi, Point-and-Figure, or Range charts, as these chart types can produce unrealistic results for signal markers and alerts.
Best regards and happy trading
Chervolino
Smart MACD Volume Trader# Smart MACD Volume Trader
## Overview
Smart MACD Volume Trader is an enhanced momentum indicator that combines the classic MACD (Moving Average Convergence Divergence) oscillator with an intelligent high-volume filter. This combination significantly reduces false signals by ensuring that trading signals are only generated when price momentum is confirmed by substantial volume activity.
The indicator supports over 24 different instruments including major and exotic forex pairs, precious metals (gold and silver), energy commodities (crude oil, natural gas), and industrial metals (copper). For forex and commodity traders, the indicator automatically maps to CME and COMEX futures contracts to provide accurate institutional-grade volume data.
## Originality and Core Concept
Traditional MACD indicators generate signals based solely on price momentum, which can result in numerous false signals during low-activity periods or ranging markets. This indicator addresses this critical weakness by introducing a volume confirmation layer with automatic institutional volume integration.
**What makes this approach original:**
- Signals are triggered only when MACD crossovers coincide with elevated volume activity
- Implements a lookback mechanism to detect volume spikes within recent bars
- Automatically detects and maps 24+ forex pairs and commodities to their corresponding CME and COMEX futures contracts
- Provides real institutional volume data for forex pairs where spot volume is unreliable
- Combines two independent market dimensions (price momentum and volume) into a single, actionable signal
- Includes intelligent asset detection that works across multiple exchanges and ticker formats
**The underlying principle:** Volume validates price movement. When institutional money enters the market, it creates volume signatures. By requiring high volume confirmation and using actual institutional volume data from futures markets, this indicator filters out weak price movements and focuses on trades backed by genuine market participation. The automatic futures mapping ensures that forex and commodity traders always have access to the most accurate volume data available, without manual configuration.
## How It Works
### MACD Component
The indicator calculates MACD using standard methodology:
1. **Fast EMA (default: 12 periods)** - Tracks short-term price momentum
2. **Slow EMA (default: 26 periods)** - Tracks longer-term price momentum
3. **MACD Line** - Difference between Fast EMA and Slow EMA
4. **Signal Line (default: 9-period SMA)** - Smoothed average of MACD line
**Crossover signals:**
- **Bullish:** MACD line crosses above Signal line (momentum turning positive)
- **Bearish:** MACD line crosses below Signal line (momentum turning negative)
### Volume Filter Component
The volume filter adds an essential confirmation layer:
1. **Volume Moving Average** - Calculates exponential MA of volume (default: 20 periods)
2. **High Volume Threshold** - Multiplies MA by ratio (default: 2.0x or 200%)
3. **Volume Detection** - Identifies bars where current volume exceeds threshold
4. **Lookback Period** - Checks if high volume occurred in recent bars (default: 5 bars)
**Signal logic:**
- Buy/Sell signals only trigger when BOTH conditions are met:
- MACD crossover/crossunder occurs
- High volume detected within lookback period
### Automatic CME Futures Integration
For forex traders, spot FX volume data can be unreliable or non-existent. This indicator solves this problem by automatically detecting forex pairs and mapping them to corresponding CME futures contracts with real institutional volume data.
**Supported Major Forex Pairs (7):**
- EURUSD → CME:6E1! (Euro FX Futures)
- GBPUSD → CME:6B1! (British Pound Futures)
- AUDUSD → CME:6A1! (Australian Dollar Futures)
- USDJPY → CME:6J1! (Japanese Yen Futures)
- USDCAD → CME:6C1! (Canadian Dollar Futures)
- USDCHF → CME:6S1! (Swiss Franc Futures)
- NZDUSD → CME:6N1! (New Zealand Dollar Futures)
**Supported Exotic Forex Pairs (4):**
- USDMXN → CME:6M1! (Mexican Peso Futures)
- USDRUB → CME:6R1! (Russian Ruble Futures)
- USDBRL → CME:6L1! (Brazilian Real Futures)
- USDZAR → CME:6Z1! (South African Rand Futures)
**Supported Cross Pairs (6):**
- EURJPY → CME:6E1! (Uses Euro Futures)
- GBPJPY → CME:6B1! (Uses British Pound Futures)
- EURGBP → CME:6E1! (Uses Euro Futures)
- AUDJPY → CME:6A1! (Uses Australian Dollar Futures)
- EURAUD → CME:6E1! (Uses Euro Futures)
- GBPAUD → CME:6B1! (Uses British Pound Futures)
**Supported Precious Metals (2):**
- Gold (XAUUSD, GOLD) → COMEX:GC1! (Gold Futures)
- Silver (XAGUSD, SILVER) → COMEX:SI1! (Silver Futures)
**Supported Energy Commodities (3):**
- WTI Crude Oil (USOIL, WTIUSD) → NYMEX:CL1! (Crude Oil Futures)
- Brent Oil (UKOIL) → NYMEX:BZ1! (Brent Crude Futures)
- Natural Gas (NATGAS) → NYMEX:NG1! (Natural Gas Futures)
**Supported Industrial Metals (1):**
- Copper (COPPER) → COMEX:HG1! (Copper Futures)
**How the automatic detection works:**
The indicator intelligently identifies the asset type by analyzing:
1. Exchange name (FX, OANDA, TVC, COMEX, NYMEX, etc.)
2. Currency pair pattern (6-letter codes like EURUSD, GBPUSD)
3. Commodity identifiers (XAU for gold, XAG for silver, OIL for crude)
When a supported instrument is detected, the indicator automatically switches to the corresponding futures contract for volume analysis. For stocks, cryptocurrencies, and other assets, the indicator uses the native volume data from the current chart.
**Visual feedback:**
An information table appears in the top-right corner of the MACD pane showing:
- Current chart symbol
- Exchange name
- Currency pair or asset name
- Volume source being used (highlighted in orange for futures, yellow for native volume)
- Current high volume status
This provides complete transparency about which data source the indicator is using for its volume analysis.
## How to Use
### Basic Setup
1. Add the indicator to your chart
2. The indicator displays in a separate pane (MACD) and overlay (signals/volume bars)
3. Default settings work well for most assets, but can be customized
### Signal Interpretation
### Visual Signals
**Visual Signals:**
- **Green "BUY" label** - Bullish MACD crossover confirmed by high volume
- **Red "SELL" label** - Bearish MACD crossunder confirmed by high volume
- **Green/Red candles** - Highlight bars with volume exceeding the threshold
- **Light green/red background** - Emphasizes signal bars on the chart
**Information Table:**
A detailed information table appears in the top-right corner of the MACD pane, providing real-time transparency about the indicator's operation:
- **Chart:** Current symbol being analyzed
- **Exchange:** The exchange or data feed being used
- **Pair:** The currency pair or asset name extracted from the ticker
- **Volume From:** The actual symbol used for volume analysis
- Orange color indicates CME or COMEX futures are being used (automatic institutional volume)
- Yellow color indicates native volume from the chart symbol is being used
- Hover tooltip shows whether automatic futures mapping is active
- **High Volume:** Current status showing YES (green) when volume exceeds threshold, NO (gray) otherwise
This table ensures complete transparency and allows you to verify that the correct volume source is being used for your analysis.
**Volume Analysis:**
- Gray histogram bars = Normal volume
- Red histogram bars = High volume (exceeds threshold)
- Green line = Volume moving average baseline
**MACD Analysis:**
- Blue line = MACD line (momentum indicator)
- Orange line = Signal line (trend confirmation)
- Gray dotted line = Zero line (bullish above, bearish below)
### Parameter Customization
**MACD Parameters:**
- Adjust Fast/Slow EMA lengths for different sensitivities
- Shorter periods = More signals, faster response
- Longer periods = Fewer signals, less noise
**Volume Parameters:**
- **Volume MA Period:** Higher values smooth volume analysis
- **High Volume Ratio:** Lower values (1.5x) = More signals; Higher values (3.0x) = Fewer, stronger signals
- **Volume Lookback Bars:** Controls how recent the volume spike must be
**Direction Filters:**
- **Only Buy Signals:** Enables long-only strategy mode
- **Only Sell Signals:** Enables short-only strategy mode
### Alert Configuration
The indicator includes three alert types:
1. **Buy Signal Alert** - Triggers when bullish signal appears
2. **Sell Signal Alert** - Triggers when bearish signal appears
3. **High Volume Alert** - Triggers when volume exceeds threshold
To set up alerts:
1. Click the indicator name → "Add alert on Smart MACD Volume Trader"
2. Select desired alert condition
3. Configure notification method (popup, email, webhook, etc.)
## Trading Strategy Guidelines
### Best Practices
**Recommended markets:**
- Liquid stocks (large-cap, high daily volume)
- Major forex pairs (EURUSD, GBPUSD, USDJPY, AUDUSD, USDCAD, USDCHF, NZDUSD)
- Exotic forex pairs (USDMXN, USDRUB, USDBRL, USDZAR)
- Cross pairs (EURJPY, GBPJPY, EURGBP, AUDJPY, EURAUD, GBPAUD)
- Precious metals (Gold, Silver with automatic COMEX futures mapping)
- Energy commodities (Crude Oil, Natural Gas with automatic NYMEX futures mapping)
- Industrial metals (Copper with automatic COMEX futures mapping)
- Major cryptocurrency pairs
- Index futures and ETFs
**Timeframe recommendations:**
- **Day trading:** 5-minute to 15-minute charts
- **Swing trading:** 1-hour to 4-hour charts
- **Position trading:** Daily charts
**Risk management:**
- Use signals as entry confirmation, not standalone strategy
- Combine with support/resistance levels
- Consider overall market trend direction
- Always use stop-loss orders
### Strategy Examples
**Trend Following Strategy:**
1. Identify overall trend using higher timeframe (e.g., daily chart)
2. Trade only in trend direction
3. Use "Only Buy" filter in uptrends, "Only Sell" in downtrends
4. Enter on signal, exit on opposite signal or at resistance/support
**Volume Breakout Strategy:**
1. Wait for consolidation period (low volume, tight MACD range)
2. Enter when signal appears with high volume (confirms breakout)
3. Target previous swing highs/lows
4. Stop loss below/above recent consolidation
**Forex Scalping Strategy (with automatic CME futures):**
1. The indicator automatically detects forex pairs and uses CME futures volume
2. Trade during active sessions only (use session filter)
3. Focus on quick profits (10-20 pips)
4. Exit at opposite signal or profit target
**Commodities Trading Strategy (Gold, Silver, Oil):**
1. The indicator automatically maps to COMEX and NYMEX futures contracts
2. Trade during high-liquidity sessions (overlap of major markets)
3. Use the high volume confirmation to identify institutional entry points
4. Combine with key support and resistance levels for entries
5. Monitor the information table to confirm futures volume is being used (orange color)
6. Exit on opposite MACD signal or at predefined profit targets
## Why This Combination Works
### The Volume Advantage
Studies consistently show that price movements accompanied by high volume are more likely to continue, while low-volume movements often reverse. This indicator leverages this principle by requiring volume confirmation.
**Key benefits:**
1. **Reduced False Signals:** Eliminates MACD whipsaws during low-volume consolidation
2. **Confirmation Bias:** Two independent indicators (price momentum + volume) agreeing
3. **Institutional Alignment:** High volume often indicates institutional participation
4. **Trend Validation:** Volume confirms that price momentum has "conviction"
### Statistical Edge
By combining two uncorrelated signals (MACD crossovers and volume spikes), the indicator creates a higher-probability setup than either signal alone. The lookback mechanism ensures signals aren't missed if volume spike slightly precedes the MACD cross.
## Supported Exchanges and Automatic Detection
The indicator includes intelligent asset detection that works across multiple exchanges and ticker formats:
**Forex Exchanges (Automatic CME Mapping):**
- FX (TradingView forex feed)
- OANDA
- FXCM
- SAXO
- FOREXCOM
- PEPPERSTONE
- EASYMARKETS
- FX_IDC
**Commodity Exchanges (Automatic COMEX/NYMEX Mapping):**
- TVC (TradingView commodity feed)
- COMEX (directly)
- NYMEX (directly)
- ICEUS
**Other Asset Classes (Native Volume):**
- Stock exchanges (NASDAQ, NYSE, AMEX, etc.)
- Cryptocurrency exchanges (BINANCE, COINBASE, KRAKEN, etc.)
- Index providers (SP, DJ, etc.)
The detection algorithm analyzes three factors:
1. Exchange prefix in the ticker symbol
2. Pattern matching for currency pairs (6-letter codes)
3. Commodity identifiers in the symbol name
This ensures accurate automatic detection regardless of which data feed or exchange you use for charting. The information table in the top-right corner always displays which volume source is being used, providing complete transparency.
## Technical Details
**Calculations:**
- MACD Fast MA: EMA(close, fastLength)
- MACD Slow MA: EMA(close, slowLength)
- MACD Line: Fast MA - Slow MA
- Signal Line: SMA(MACD Line, signalLength)
- Volume MA: Exponential MA of volume
- High Volume: Current volume >= Volume MA × Ratio
**Signal logic:**
```
Buy Signal = (MACD crosses above Signal) AND (High volume in last N bars)
Sell Signal = (MACD crosses below Signal) AND (High volume in last N bars)
```
## Parameters Reference
| Parameter | Default | Description |
|-----------|---------|-------------|
| Volume Symbol | Blank | Manual override for volume source (leave blank for automatic detection) |
| Use CME Futures | False | Legacy option (automatic detection is now built-in) |
| Alert Session | 1530-2200 | Active session time range for alerts |
| Timezone | UTC+1 | Timezone for alert sessions |
| Volume MA Period | 20 | Number of periods for volume moving average |
| High Volume Ratio | 2.0 | Volume threshold multiplier (2.0 = 200% of average) |
| Volume Lookback | 5 | Number of bars to check for high volume confirmation |
| MACD Fast Length | 12 | Fast EMA period for MACD calculation |
| MACD Slow Length | 26 | Slow EMA period for MACD calculation |
| MACD Signal Length | 9 | Signal line SMA period |
| Only Buy | False | Filter to show only bullish signals |
| Only Sell | False | Filter to show only bearish signals |
| Show Signals | True | Display buy and sell labels on chart |
## Optimization Tips
**For volatile markets (crypto, small caps):**
- Increase High Volume Ratio to 2.5-3.0
- Reduce Volume Lookback to 3-4 bars
- Consider faster MACD settings (8, 17, 9)
**For stable markets (large-cap stocks, bonds):**
- Decrease High Volume Ratio to 1.5-1.8
- Increase Volume MA Period to 30-50
- Use standard MACD settings
**For forex (with automatic CME futures):**
- The indicator automatically uses CME futures when forex pairs are detected
- Set appropriate trading session based on your timezone
- Use Volume Lookback of 5-7 bars
- Consider session-based alerts only
- Monitor the information table to verify correct futures mapping
**For commodities (Gold, Silver, Oil, Copper):**
- The indicator automatically maps to COMEX and NYMEX futures
- Increase High Volume Ratio to 2.0-2.5 for metals
- Use slightly higher Volume MA Period (25-30) for smoother analysis
- Trade during active market hours for best volume data
- The information table will show the futures contract being used (orange highlight)
## Limitations and Considerations
**What this indicator does NOT do:**
- Does not predict future price direction
- Does not guarantee profitable trades
- Does not replace proper risk management
- Does not work well in extremely low-volume conditions
**Market conditions to avoid:**
- Pre-market and after-hours sessions (low volume)
- Major news events (volatile, unpredictable volume)
- Holidays and low-liquidity periods
- Extremely low float stocks
## Conclusion
Smart MACD Volume Trader represents a significant evolution of the traditional MACD indicator by combining volume confirmation with automatic institutional volume integration. This dual-confirmation approach significantly improves signal quality by filtering out low-conviction price movements and ensuring traders work with accurate volume data.
The indicator's automatic detection and mapping system supports over 24 instruments across forex, commodities, and metals markets. By intelligently switching to CME and COMEX futures contracts when appropriate, the indicator provides forex and commodity traders with the same quality of volume data that stock traders naturally have access to.
This indicator is particularly valuable for traders who want to:
- Align their entries with institutional money flow
- Avoid getting trapped in false breakouts
- Trade forex pairs with reliable volume data
- Access accurate volume information for gold, silver, and energy commodities
- Combine momentum and volume analysis in a single, streamlined tool
Whether you are day trading stocks, swing trading forex pairs, or positioning in commodities markets, this indicator provides a robust framework for identifying high-probability momentum trades backed by genuine institutional participation. The automatic futures mapping works seamlessly across all supported instruments, requiring no manual configuration or expertise in futures markets.
---
## Support and Updates
This indicator is actively maintained and updated based on user feedback and market conditions. For questions about implementation or custom modifications, please use the comments section below.
**Disclaimer:** This indicator is for educational and informational purposes only. Past performance does not guarantee future results. Always conduct your own analysis and risk management before trading.
MACD Enhanced [DCAUT]█ MACD Enhanced
📊 ORIGINALITY & INNOVATION
The MACD Enhanced represents a significant improvement over traditional MACD implementations. While Gerald Appel's original MACD from the 1970s was limited to exponential moving averages (EMA), this enhanced version expands algorithmic options by supporting 21 different moving average calculations for both the main MACD line and signal line independently.
This improvement addresses an important limitation of traditional MACD: the inability to adapt the indicator's mathematical foundation to different market conditions. By allowing traders to select from algorithms ranging from simple moving averages (SMA) for stability to advanced adaptive filters like Kalman Filter for noise reduction, this implementation changes MACD from a fixed-algorithm tool into a flexible instrument that can be adjusted for specific market environments and trading strategies.
The enhanced histogram visualization system uses a four-color gradient that helps communicate momentum strength and direction more clearly than traditional single-color histograms.
📐 MATHEMATICAL FOUNDATION
The core calculation maintains the proven MACD formula: Fast MA(source, fastLength) - Slow MA(source, slowLength), but extends it with algorithmic flexibility. The signal line applies the selected smoothing algorithm to the MACD line over the specified signal period, while the histogram represents the difference between MACD and signal lines.
Available Algorithms:
The implementation supports a comprehensive spectrum of technical analysis algorithms:
Basic Averages: SMA (arithmetic mean), EMA (exponential weighting), RMA (Wilder's smoothing), WMA (linear weighting)
Advanced Averages: HMA (Hull's low-lag), VWMA (volume-weighted), ALMA (Arnaud Legoux adaptive)
Mathematical Filters: LSMA (least squares regression), DEMA (double exponential), TEMA (triple exponential), ZLEMA (zero-lag exponential)
Adaptive Systems: T3 (Tillson T3), FRAMA (fractal adaptive), KAMA (Kaufman adaptive), MCGINLEY_DYNAMIC (reactive to volatility)
Signal Processing: ULTIMATE_SMOOTHER (low-pass filter), LAGUERRE_FILTER (four-pole IIR), SUPER_SMOOTHER (two-pole Butterworth), KALMAN_FILTER (state-space estimation)
Specialized: TMA (triangular moving average), LAGUERRE_BINOMIAL_FILTER (binomial smoothing)
Each algorithm responds differently to price action, allowing traders to match the indicator's behavior to market characteristics: trending markets benefit from responsive algorithms like EMA or HMA, while ranging markets require stable algorithms like SMA or RMA.
📊 COMPREHENSIVE SIGNAL ANALYSIS
Histogram Interpretation:
Positive Values: Indicate bullish momentum when MACD line exceeds signal line, suggesting upward price pressure and potential buying opportunities
Negative Values: Reflect bearish momentum when MACD line falls below signal line, indicating downward pressure and potential selling opportunities
Zero Line Crosses: MACD crossing above zero suggests transition to bullish bias, while crossing below indicates bearish bias shift
Momentum Changes: Rising histogram (regardless of positive/negative) signals accelerating momentum in the current direction, while declining histogram warns of momentum deceleration
Advanced Signal Recognition:
Divergences: Price making new highs/lows while MACD fails to confirm often precedes trend reversals
Convergence Patterns: MACD line approaching signal line suggests impending crossover and potential trade setup
Histogram Peaks: Extreme histogram values often mark momentum exhaustion points and potential reversal zones
🎯 STRATEGIC APPLICATIONS
Comprehensive Trend Confirmation Strategies:
Primary Trend Validation Protocol:
Identify primary trend direction using higher timeframe (4H or Daily) MACD position relative to zero line
Confirm trend strength by analyzing histogram progression: consistent expansion indicates strong momentum, contraction suggests weakening
Use secondary confirmation from MACD line angle: steep angles (>45°) indicate strong trends, shallow angles suggest consolidation
Validate with price structure: trending markets show consistent higher highs/higher lows (uptrend) or lower highs/lower lows (downtrend)
Entry Timing Techniques:
Pullback Entries in Uptrends: Wait for MACD histogram to decline toward zero line without crossing, then enter on histogram expansion with MACD line still above zero
Breakout Confirmations: Use MACD line crossing above zero as confirmation of upward breakouts from consolidation patterns
Continuation Signals: Look for MACD line re-acceleration (steepening angle) after brief consolidation periods as trend continuation signals
Advanced Divergence Trading Systems:
Regular Divergence Recognition:
Bullish Regular Divergence: Price creates lower lows while MACD line forms higher lows. This pattern is traditionally considered a potential upward reversal signal, but should be combined with other confirmation signals
Bearish Regular Divergence: Price makes higher highs while MACD shows lower highs. This pattern is traditionally considered a potential downward reversal signal, but trading decisions should incorporate proper risk management
Hidden Divergence Strategies:
Bullish Hidden Divergence: Price shows higher lows while MACD displays lower lows, indicating trend continuation potential. Use for adding to existing long positions during pullbacks
Bearish Hidden Divergence: Price creates lower highs while MACD forms higher highs, suggesting downtrend continuation. Optimal for adding to short positions during bear market rallies
Multi-Timeframe Coordination Framework:
Three-Timeframe Analysis Structure:
Primary Timeframe (Daily): Determine overall market bias and major trend direction. Only trade in alignment with daily MACD direction
Secondary Timeframe (4H): Identify intermediate trend changes and major entry opportunities. Use for position sizing decisions
Execution Timeframe (1H): Precise entry and exit timing. Look for MACD line crossovers that align with higher timeframe bias
Timeframe Synchronization Rules:
Daily MACD above zero + 4H MACD rising = Strong uptrend context for long positions
Daily MACD below zero + 4H MACD declining = Strong downtrend context for short positions
Conflicting signals between timeframes = Wait for alignment or use smaller position sizes
1H MACD signals only valid when aligned with both higher timeframes
Algorithm Considerations by Market Type:
Trending Markets: Responsive algorithms like EMA, HMA may be considered, but effectiveness should be tested for specific market conditions
Volatile Markets: Noise-reducing algorithms like KALMAN_FILTER, SUPER_SMOOTHER may help reduce false signals, though results vary by market
Range-Bound Markets: Stability-focused algorithms like SMA, RMA may provide smoother signals, but individual testing is required
Short Timeframes: Low-lag algorithms like ZLEMA, T3 theoretically respond faster but may also increase noise
Important Note: All algorithm choices and parameter settings should be thoroughly backtested and validated based on specific trading strategies, market conditions, and individual risk tolerance. Different market environments and trading styles may require different configuration approaches.
📋 DETAILED PARAMETER CONFIGURATION
Comprehensive Source Selection Strategy:
Price Source Analysis and Optimization:
Close Price (Default): Most commonly used, reflects final market sentiment of each period. Best for end-of-day analysis, swing trading, daily/weekly timeframes. Advantages: widely accepted standard, good for backtesting comparisons. Disadvantages: ignores intraday price action, may miss important highs/lows
HL2 (High+Low)/2: Midpoint of the trading range, reduces impact of opening gaps and closing spikes. Best for volatile markets, gap-prone assets, forex markets. Calculation impact: smoother MACD signals, reduced noise from price spikes. Optimal when asset shows frequent gaps, high volatility during specific sessions
HLC3 (High+Low+Close)/3: Weighted average emphasizing the close while including range information. Best for balanced analysis, most asset classes, medium-term trading. Mathematical effect: 33% weight to high/low, 33% to close, provides compromise between close and HL2. Use when standard close is too noisy but HL2 is too smooth
OHLC4 (Open+High+Low+Close)/4: True average of all price points, most comprehensive view. Best for complete price representation, algorithmic trading, statistical analysis. Considerations: includes opening sentiment, smoothest of all options but potentially less responsive. Optimal for markets with significant opening moves, comprehensive trend analysis
Parameter Configuration Principles:
Important Note: Different moving average algorithms have distinct mathematical characteristics and response patterns. The same parameter settings may produce vastly different results when using different algorithms. When switching algorithms, parameter settings should be re-evaluated and tested for appropriateness.
Length Parameter Considerations:
Fast Length (Default 12): Shorter periods provide faster response but may increase noise and false signals, longer periods offer more stable signals but slower response, different algorithms respond differently to the same parameters and may require adjustment
Slow Length (Default 26): Should maintain a reasonable proportional relationship with fast length, different timeframes may require different parameter configurations, algorithm characteristics influence optimal length settings
Signal Length (Default 9): Shorter lengths produce more frequent crossovers but may increase false signals, longer lengths provide better signal confirmation but slower response, should be adjusted based on trading style and chosen algorithm characteristics
Comprehensive Algorithm Selection Framework:
MACD Line Algorithm Decision Matrix:
EMA (Standard Choice): Mathematical properties: exponential weighting, recent price emphasis. Best for general use, traditional MACD behavior, backtesting compatibility. Performance characteristics: good balance of speed and smoothness, widely understood behavior
SMA (Stability Focus): Equal weighting of all periods, maximum smoothness. Best for ranging markets, noise reduction, conservative trading. Trade-offs: slower signal generation, reduced sensitivity to recent price changes
HMA (Speed Optimized): Hull Moving Average, designed for reduced lag. Best for trending markets, quick reversals, active trading. Technical advantage: square root period weighting, faster trend detection. Caution: can be more sensitive to noise
KAMA (Adaptive): Kaufman Adaptive MA, adjusts smoothing based on market efficiency. Best for varying market conditions, algorithmic trading. Mechanism: fast smoothing in trends, slow smoothing in sideways markets. Complexity: requires understanding of efficiency ratio
Signal Line Algorithm Optimization Strategies:
Matching Strategy: Use same algorithm for both MACD and signal lines. Benefits: consistent mathematical properties, predictable behavior. Best when backtesting historical strategies, maintaining traditional MACD characteristics
Contrast Strategy: Use different algorithms for optimization. Common combinations: MACD=EMA, Signal=SMA for smoother crossovers, MACD=HMA, Signal=RMA for balanced speed/stability, Advanced: MACD=KAMA, Signal=T3 for adaptive behavior with smooth signals
Market Regime Adaptation: Trending markets: both fast algorithms (EMA/HMA), Volatile markets: MACD=KALMAN_FILTER, Signal=SUPER_SMOOTHER, Range-bound: both slow algorithms (SMA/RMA)
Parameter Sensitivity Considerations:
Impact of Parameter Changes:
Length Parameter Sensitivity: Small parameter adjustments can significantly affect signal timing, while larger adjustments may fundamentally change indicator behavior characteristics
Algorithm Sensitivity: Different algorithms produce different signal characteristics. Thoroughly test the impact on your trading strategy before switching algorithms
Combined Effects: Changing multiple parameters simultaneously can create unexpected effects. Recommendation: adjust parameters one at a time and thoroughly test each change
📈 PERFORMANCE ANALYSIS & COMPETITIVE ADVANTAGES
Response Characteristics by Algorithm:
Fastest Response: ZLEMA, HMA, T3 - minimal lag but higher noise
Balanced Performance: EMA, DEMA, TEMA - good trade-off between speed and stability
Highest Stability: SMA, RMA, TMA - reduced noise but increased lag
Adaptive Behavior: KAMA, FRAMA, MCGINLEY_DYNAMIC - automatically adjust to market conditions
Noise Filtering Capabilities:
Advanced algorithms like KALMAN_FILTER and SUPER_SMOOTHER help reduce false signals compared to traditional EMA-based MACD. Noise-reducing algorithms can provide more stable signals in volatile market conditions, though results will vary based on market conditions and parameter settings.
Market Condition Adaptability:
Unlike fixed-algorithm MACD, this enhanced version allows real-time optimization. Trending markets benefit from responsive algorithms (EMA, HMA), while ranging markets perform better with stable algorithms (SMA, RMA). The ability to switch algorithms without changing indicators provides greater flexibility.
Comparative Performance vs Traditional MACD:
Algorithm Flexibility: 21 algorithms vs 1 fixed EMA
Signal Quality: Reduced false signals through noise filtering algorithms
Market Adaptability: Optimizable for any market condition vs fixed behavior
Customization Options: Independent algorithm selection for MACD and signal lines vs forced matching
Professional Features: Advanced color coding, multiple alert conditions, comprehensive parameter control
USAGE NOTES
This indicator is designed for technical analysis and educational purposes. Like all technical indicators, it has limitations and should not be used as the sole basis for trading decisions. Algorithm performance varies with market conditions, and past characteristics do not guarantee future results. Always combine with proper risk management and thorough strategy testing.
cd_VWAP_mtg_CxCd_VWAP_mtg_Cx
Overview
The most important condition for being successful and profitable in the market is to consistently follow the same rules without compromise, while the price constantly moves in countless different ways.
Regardless of the concept or trading school, those who have rules win.
In this indicator, we will define and use three main sections to set and apply our rules.
The indicator uses the VWAP (Volume Weighted Average Price) — price weighted by volume.
Two VWAPs can be displayed either by manually entering date and time, or by selecting from the menu.
From the menu, you can select the following reference levels:
• HTF Open: Opening candle of the higher timeframe
• ATH / ATL: All-Time High / All-Time Low candles
• PMH / PML, PWH / PWL, PDH / PDL, PH4H / PH4L: Previous Month, Week, Day, or H4 Highs/Lows
• MH / ML, WH / WL, DH / DL, H4H / H4L: Current Month, Week, Day, or H4 Highs/Lows
Additionally, it includes:
• Mitigation / Order Block zones (local buyer-seller balance) across two timeframes.
• Buy/Sell Side Liquidity levels (BSL / SSL) from the aligned higher timeframe (target levels).
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Components and Usage
1 – VWAP
Calculated using the classical method:
• High + Volume for the upper value
• Close + Volume for the middle value
• Low + Volume for the lower value
The VWAP is displayed as a colored band, where the coloring represents the bias.
Let’s call this band FVB (Fair Value Band) for ease of explanation.
The FVB represents the final line of defense, the buyer/seller boundary, and in technical terms, it can be viewed as premium/discount zones or support/resistance levels.
Within this critical area, the strong side continues its move, while the weaker side is forced to retreat.
But does the side that breaks beyond the band always keep going?
We all know that’s not always the case — in different pairs and timeframes, price often violates both the upper and lower edges multiple times.
To achieve more consistent analysis, we’ll define a new set of rules.
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2 – Mitigation / Order Blocks
In trading literature, there are dozens of different definitions and uses of mitigation or order blocks.
Here, we will interpret the candlesticks to create our own definition, and we’ll use the zones defined by candles that fit this pattern.
For simplicity, let’s abbreviate mitigation as “mtg.”
For a candle to be selected as an mtg, it must clearly show strength from one side (buyers or sellers) — which can also be observed visually on the chart.
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Bullish mtg criteria:
1. The first candle must be bullish (close > open) → buyers are strong.
2. The next candle makes a new high (buyers push higher) but fails to close above and pulls back to close inside the previous range → sellers react.
It also must not break the previous low → buyers defend.
3. In the following candle(s), as long as the first candle’s low is protected and the second candle’s high is broken, it indicates buyer strength → a bullish mtg is confirmed.
When price returns to this zone later (gets mitigated), the expectation is that the zone holds and price pushes upward again.
If the low is violated, the mtg becomes invalid.
In technical terms:
If the previous candle’s high is broken but no close occurs above it, the expectation is a reversal move that will retest its low.
Question:
What if the low is protected and in the next candle(s) a new high forms?
Answer: → Bullish mtg.
Bearish mtg (opposite)
3 – Buy/Sell Side Liquidity Levels
With the help of the aligned higher timeframe (swing points), we will define our market structure framework and set our liquidity targets accordingly.
Let’s put the pieces together.
If we continue explaining from a trade-focused perspective, our first priority should be our bias — our projection or expectation of the market’s potential movement.
We will determine this bias using the FVB.
Since we know the band often gets violated on both sides, we want the price action to convince us of its strength.
To do that, we’ll use the first candle that closes beyond the band.
The distance from that candle’s high to low will be our threshold range
Bullish level = high + (candle length × coefficient)
Bearish level = low - (candle length × coefficient)
When the price closes beyond this threshold, it demonstrates strength, and our bias will now align in that direction.
How long will this bias remain valid?
→ Until a closing candle appears on the opposite side of the band.
If a close occurs on the opposite side, then a new bias will only be confirmed once the new threshold level is broken.
During the period in between, we have no bias.
Let’s continue on the chart:
Now that our bias has been established, where and how do we look for trade opportunities?
There are two possible entry approaches:
• Aggressive entry: Enter immediately with the breakout.
• Conservative entry: Wait for a pullback and enter once a suitable structure forms.
(The choice depends on the user’s preference.)
At this stage, the user can apply their own entry model. Let’s give an example:
Let’s assume we’re looking for setups using HTF sweep + LTF CISD confirmation.
Once our bias turns bearish, we look for an HTF sweep forming on or near an FVB or mtg block, and then confirm the entry with a CISD signal.
In summary:
• FVB defines the bias, the entry zone, and the target zone.
• Mtg blocks represent entry zones.
• BSL / SSL levels suggest target zones.
Overlapping FVB and mtg blocks are expected to be more effective.
The indicator also provides an option for a second FVB.
A band attached to a lower timeframe can be used as confirmation.
• Main band: Bias + FVB
• Extra band: Entry trigger confirmed by a close beyond it.
Mtg blocks can provide trade entry opportunities, especially when the price is moving strongly in one direction (flow).
Consecutive or complementary mtg blocks indicate that the price is decisive in one direction, while sometimes also showing areas where we should wait before entering.
Mtg blocks that contain an FVG (Fair Value Gap) within their body are expected to be more effective.
Settings:
The default values are set to 1-3-5m, optimized for scalping trades.
VWAP settings:
Main VWAP (FVB):
• Can be set by selecting a start time, manually entering date and time, or choosing a predefined level.
Extra VWAP (FVB):
• Set from the menu. If not needed, select “none.”
• Visibility, color, and fill settings for VWAP are located here.
• Threshold levels visibility and color options are also in this section.
• The multiplier is used for calculating the threshold level.
Important:
• If the Extra VWAP is selected but not displayed, you need to increase the chart timeframe.
o Example: If the chart is on 3m and you select WH from the extra options, it will not display correctly.
• Upper limits for VWAP:
o 1m and 3m charts: daily High/Low
o 5m chart: weekly High/Low
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Mtg Settings:
• Visibility and color settings for blocks are configured here.
• To display on a second timeframe, the box must be checked and the timeframe specified.
• Optional display modes: “only active blocks,” “only last violated mtg,” or “all.”
• For confirmation and removal criteria, choosing high/low or close determines the source used for mtg block formation and deletion conditions.
BSL/SSL Settings:
• Visibility, color, font size, and line style can be configured in this section.
When “Auto” is selected, the aligned timeframe is determined automatically by the indicator, while in manual mode, the user defines the timeframe.
Final Words:
Simply opening trades every time the price touches the VWAP or mtg blocks will not make you a profitable trader. Searching for setups with similar structures while maintaining proper risk management will yield better results in the long run.
I would be happy to hear your feedback and suggestions.
Happy trading!
Key Levels: Daily, Weekly, Monthly [BackQuant]Key Levels: Daily, Weekly, Monthly
Map the market’s “memory” in one glance—yesterday’s range, this week’s chosen day high/low, and D/W/M opens—then auto-clean levels once they break.
What it does
This tool plots three families of high-signal reference lines and keeps them tidy as price evolves:
Chosen Day High/Low (per week) — Pick a weekday (e.g., Monday). For each past week, the script records that day’s session high and low and projects them forward for a configurable number of bars. These act like “memory levels” that price often revisits.
Daily / Weekly / Monthly Opens — Plots the opening price of each new day, week, and month with separate styling. These opens frequently behave like magnets/flip lines intraday and anchors for regime on higher timeframes.
Auto-pruning — When price breaks a stored level, the script can automatically remove it to reduce clutter and refocus you on still-active lines. See: (broken levels removed).
Why these levels matter
Liquidity pockets — Prior day’s high/low and the daily open concentrate stops and pending orders. Mapping them quickly reveals likely sweep or fade zones. Example: previous day highs + daily open highlighting liquidity:
Context & regime — Monthly opens frame macro bias; trading above a rising cluster of monthly opens vs. below gives a clean top-down read. Example: monthly-only “macro outlook” view:
Cleaner charts — Auto-remove broken lines so you focus on what still matters right now.
What it plots (at a glance)
Past Chosen Day High/Low for up to N prior weeks (your choice), extended right.
Current Daily Open , Weekly Open , and Monthly Open , each with its own color, label, and forward extension.
Optional short labels (e.g., “Mon High”) or full labels (with week/month info).
How breaks are detected & cleaned
You control both the evidence and the timing of a “break”:
Break uses — Choose Close (more conservative) or Wick (more sensitive).
Inclusive? — If enabled, equality counts (≥ high or ≤ low). If disabled, you need a strict cross.
Allow intraday breaks? — If on, a level can break during the tracked day; if off, the script only counts breaks after the session completes.
Remove Broken Levels — When a break is confirmed, the line/label is deleted automatically. (See the demo: )
Quick start
Pick a Day of Week to Track (e.g., Monday).
Set how many weeks back to show (e.g., 8–10).
Choose how far to extend each family (bars to the right for chosen-day H/L and D/W/M opens).
Decide if a break uses Close or Wick , and whether equality counts.
Toggle Remove Broken Levels to keep the chart clean automatically.
Tips by use-case
Intraday bias — Watch the Daily Open as a magnet/flip. If price gaps above and holds, pullbacks to the daily open often decide direction. Pair with last day’s high/low for sweep→reversal or true breakout cues. See:
Weekly structure — Track the week’s chosen day (e.g., Monday) high/low across prior weeks. If price stalls near a cluster of old “Monday Highs,” look for sweep/reject patterns or continuation on reclaim.
Macro regime — Hide daily/weekly lines and keep only Monthly Opens to read bigger cycles at a glance (BTC/crypto especially). Example:
Customization
Use wicks or bodies for highs/lows (wicks capture extremes; bodies are stricter).
Line style & thickness — solid/dashed/dotted, width 1–5, plus global transparency.
Labels — Abbreviated (“Mon High”, “D Open”) or full (month/week/day info).
Color scheme — Separate colors for highs, lows, and each of D/W/M opens.
Capacity controls — Set how many daily/weekly/monthly opens and how many weeks of chosen-day H/L to keep visible.
What’s under the hood
On your selected weekday, the script records that session’s true high and true low (using wicks or body-based extremes—your choice), then projects a horizontal line forward for the next bars.
At each new day/week/month , it records the opening price and projects that line forward as well.
Each bar, the script checks your “break” rules; once broken, lines/labels are removed if auto-cleaning is on.
Everything updates in real time; past levels don’t repaint after the session finishes.
Recommended presets
Day trading — Weeks back: 6–10; extend D/W opens: 50–100 bars; Break uses: Close ; Inclusive: off; Auto-remove: on.
Swing — Fewer daily opens, more weekly opens (2–6), and 8–12 weeks of chosen-day H/L.
Macro — Show only Monthly Opens (1–6 months), dashed style, thicker lines for clarity.
Reading the examples
Broken lines disappear — decluttering in action:
Macro outlook — monthly opens as cycle rails:
Liquidity map — previous day highs + daily open:
Final note
These are not “signals”—they’re reference points that many participants watch. By standardising how you draw them and automatically clearing the ones that no longer matter, you turn a noisy chart into a focused map: where liquidity likely sits, where price memory lives, and which lines are still in play.
Custom ZigZag IndicatorOverview
The Custom ZigZag Indicator is a technical analysis tool built in Pine Script (version 5) for TradingView. It overlays on price charts to visualize market trends by connecting significant swing highs and lows, filtering out minor price noise. This helps identify the overall market direction (uptrends or downtrends), potential reversal points, and key support/resistance levels. Unlike standard price lines, it "zigzags" only between meaningful pivots, making trends clearer.
Core Logic and How It Works
The script uses a state-machine approach to track market direction and pivots:
Initialization
Starts assuming an upward trend on the first bar.
sets initial high/low prices and bar indices based on the current bar's high/low.
Direction Tracking:
Upward Trend (direction = 1):
Monitors for new highs: If the current high exceeds the tracked high, update the high price and bar.
Checks for reversal: If the low drops below the high by the deviation percentage (e.g., high * (1 - 0.05) for 5%), it signals a downtrend reversal.
Draws a green line from the last pivot (low) to the new high.
If labels are enabled, adds a label: "HH" (Higher High if above previous high), "LH" (Lower High if below), or "H" (for the first one).
Updates the last high and switches to downward direction.
Downward Trend (direction = -1):
Monitors for new lows: If the current low is below the tracked low, update the low price and bar.
Checks for reversal: If the high rises above the low by the deviation percentage (e.g., low * (1 + 0.05)), it signals an uptrend reversal.
Draws a red line from the last pivot (high) to the new low.
If labels are enabled, adds a label: "LL" (Lower Low if below previous low), "HL" (Higher Low if above), or "L" (for the first one).
Updates the last low and switches to upward direction.
Swing High/Low with Liquidity Sweeps🧠 Overview
This indicator identifies swing highs and swing lows based on user-defined candle lengths and checks for liquidity sweeps—situations where the price breaks a previous swing level but then closes back inside, indicating a potential false breakout or stop hunt. It also supports visual labeling and alerts for these events.
⚙️ Inputs
Swing Length (must be odd number ≥ 3):
Determines how many candles are used to identify swing highs/lows. The central candle must be higher or lower than all neighbors within the range.
Example: If swingLength = 5, the central candle must be higher/lower than the 2 candles on both sides.
Sweep Lookback (bars):
Defines how many bars to look back for possible liquidity sweeps.
Show Swing Labels (checkbox):
Optionally display labels on the chart when a swing high or low is detected.
Show Sweep Labels (checkbox):
Optionally display labels on the chart when a liquidity sweep occurs.
🕯️ Swing Detection Logic
A Swing High is detected when the high of the central candle is greater than the highs of all candles around it (as per the defined length).
A Swing Low is detected when the low of the central candle is lower than the lows of surrounding candles.
Swing labels are placed slightly above (for highs) or below (for lows) the candle.
💧 Liquidity Sweep Logic
A Sweep High is triggered if:
The current high breaks above a previously detected swing high,
And then the candle closes below that swing high,
Within the configured lookback window.
A Sweep Low is triggered if:
The current low breaks below a previous swing low,
And then closes above it,
Within the lookback window.
These are often seen as stop hunts or fake breakouts.
🔔 Alerts
Sweep High Alert: Triggered when a sweep above a swing high occurs.
Sweep Low Alert: Triggered when a sweep below a swing low occurs.
You can use these to set up TradingView alerts to notify you of potential liquidity grabs.
📊 Use Cases
Identifying market structure shifts.
Spotting fake breakouts and potential reversals.
Assisting in smart money concepts and liquidity-based trading.
Supporting entry timing in trend continuation or reversal strategies.
Initial balance - weeklyWeekly Initial Balance (IB) — Indicator Description
The Weekly Initial Balance (IB) is the price range (High–Low) established during the week’s first trading session (most commonly Monday). You can measure it over the entire day or just the first X hours (e.g. 60 or 120 minutes). Once that session ends, the IB High and IB Low define the key levels where the initial weekly range formed.
Why Measure the Weekly IB?
Week-Opening Sentiment:
Monday’s range often sets the tone for the rest of the week. Trading above the IB High signals bullish control; trading below the IB Low signals bearish control.
Key Liquidity Zones:
Large institutions tend to place orders around these extremes, so you’ll frequently see tests, breakouts, or rejections at these levels.
Support & Resistance:
The IB High and IB Low become natural barriers. Price will often return to them, bounce off them, or break through them—ideal spots for entries and exits.
Volatility Forecast:
The width of the IB (High minus Low) indicates whether to expect a volatile week (wide IB) or a quieter one (narrow IB).
Significance of IB Levels
Breakout:
A clear break above the IB High (for longs) or below the IB Low (for shorts) can ignite a strong trending move.
Fade:
A rejection off the IB High/Low during low momentum (e.g. low volume or pin-bar formations) offers a high-probability reversal trade.
Mid-Point:
The 50% level of the IB range often “magnetizes” price back to it, providing entry points for continuation or reversal strategies.
Three Core Monday IB Strategies
A. Breakout (Open-Range Breakout)
Entry: Wait for 1–2 candles (e.g. 5-minute) to close above IB High (long) or below IB Low (short).
Stop-Loss: A few pips below IB High (long) or above IB Low (short).
Profit-Target: 2–3× your risk (Reward:Risk ≥ 2:1).
Best When: You spot a clear impulse—such as a strong pre-open volume spike or news-driven move.
B. Fade (Reversal at Extremes)
Entry: When price tests IB High but shows weakening momentum (shrinking volume, upper-wick candles), enter short; vice versa for IB Low and longs.
Stop-Loss: Just beyond the IB extreme you’re fading.
Profit-Target: Back toward the IB mid-point (50% level) or all the way to the opposite IB extreme.
Best When: Monday’s action is range-bound and lacks a clear directional trend.
C. Mid-Point Trading
Entry: When price returns to the 50% level of the IB range.
In an up-trend: buy if it bounces off mid-point back toward IB High.
In a down-trend: sell if it reverses off mid-point back toward IB Low.
Stop-Loss: Just below the nearest swing-low (for longs) or above the nearest swing-high (for shorts).
Profit-Target: To the corresponding IB extreme (High or Low).
Best When: You see a strong initial move away from the IB, followed by a pullback to the mid-point.
Usage Steps
Configure your session: Measure IB over your chosen Monday timeframe (whole day or first X hours).
Choose your strategy: Align Breakout, Fade, or Mid-Point entries with the current market context (trend vs. range).
Manage risk: Keep risk per trade ≤ 1% of account and maintain at least a 2:1 Reward:Risk ratio.
Backtest & forward-test: Verify performance over multiple Mondays and in a paper-trading environment before going live.
beanBean's Multi-Instrument Pattern Scanner.
This indicator scans H1 timeframe for specific technical patterns. Here's how each pattern is detected:
PATTERN DETECTION CRITERIA:
1. Hammer
- Body Size: ≤ 30% of total candle length
- Lower Wick: > 50% of total candle length
- Upper Wick: < 20% of total candle length
- Formula:
* bodySize = |close - open|
* upperWick = high - max(open, close)
* lowerWick = min(open, close) - low
* totalLength = high - low
2. Shooting Star
- Body Size: ≤ 30% of total candle length
- Upper Wick: > 50% of total candle length
- Lower Wick: < 20% of total candle length
- Uses same measurements as Hammer but inverted
3. Outside/Inside (OI)
Checks three consecutive bars:
- Outside Bar: Bar2 high ≥ Bar3 high AND Bar2 low ≤ Bar3 low
- Inside Bar: Bar1 high ≤ Bar2 high AND Bar1 low ≥ Bar2 low
Pattern confirms when both conditions are met
4. Bullish/Bearish Umbrella
Checks two consecutive bars:
Bullish:
- Current bar's high ≤ previous bar's high
- Current body high ≤ previous bar's high
- Current body low ≥ previous body high
Bearish:
- Current bar's low ≥ previous bar's low
- Current body low ≥ previous bar's low
- Current body high ≤ previous body low
5. Three Bar Triangle (3BT)
Checks three consecutive bars:
- Current bar's high ≤ max(previous two highs)
- Current bar's low ≥ min(previous two lows)
- Indicates price compression
DISPLAY AND ALERTS:
- Patterns are displayed in real-time in the table
- Multiple patterns can be detected simultaneously
- Pattern detection resets each new H1 candle
CONFIGURATION:
- Each row can be independently configured
- Patterns are checked on H1 timeframe close
- Alert frequency: Once per H1 bar close
Note: All measurements use standard OHLC values from only completed H1 candles.
Inner Bar Strength (IBS)Inner Bar Strength (IBS) Indicator
The Inner Bar Strength (IBS) indicator is a technical analysis tool designed to measure the position of the closing price relative to the day's price range. It provides insights into market sentiment by indicating where the close occurs within the high and low of a specific timeframe. The IBS value ranges from 0 to 1, where values near 1 suggest bullish momentum (close near the high), and values near 0 indicate bearish momentum (close near the low).
How It Works
The IBS is calculated using the following formula:
IBS = (Close−Low) / (High−Low)
IBS = (High−Low) / (Close−Low)
Close: Closing price of the selected timeframe.
Low: Lowest price of the selected timeframe.
High: Highest price of the selected timeframe.
The indicator allows you to select the timeframe for calculation (default is daily), providing flexibility to analyze different periods based on your trading strategy.
Key Features
Inner Bar Strength (IBS) Indicator
The Inner Bar Strength (IBS) indicator is a technical analysis tool designed to measure the position of the closing price relative to the day's price range. It provides insights into market sentiment by indicating where the close occurs within the high and low of a specific timeframe. The IBS value ranges from 0 to 1, where values near 1 suggest bullish momentum (close near the high), and values near 0 indicate bearish momentum (close near the low).
How It Works
The IBS is calculated using the following formula:
IBS=Close−LowHigh−Low
IBS=High−LowClose−Low
Close: Closing price of the selected timeframe.
Low: Lowest price of the selected timeframe.
High: Highest price of the selected timeframe.
The indicator allows you to select the timeframe for calculation (default is daily), providing flexibility to analyze different periods based on your trading strategy.
Key Features
Timeframe Selection: Customize the timeframe to daily, weekly, monthly, or any other period that suits your analysis.
Adjustable Thresholds: Input fields for upper and lower thresholds (defaulted at 0.9 and 0.1) help identify overbought and oversold conditions.
Visual Aids: Dashed horizontal lines at the threshold levels make it easy to visualize critical levels on the chart.
How to Use the IBS Indicator
When the IBS value exceeds the upper threshold (e.g., 0.9), it suggests the asset is closing near its high and may be overbought.
When the IBS value falls below the lower threshold (e.g., 0.1), it indicates the asset is closing near its low and may be oversold.
Use RSI to confirm overbought or oversold conditions identified by the IBS.
Incorporate moving averages to identify the overall trend and filter signals.
High trading volume can strengthen signals provided by the IBS.
If the price is making lower lows while the IBS is making higher lows, it may signal a potential upward reversal.
If the price is making higher highs and the IBS is making lower highs, a downward reversal might be imminent.
Conclusion
The Inner Bar Strength (IBS) indicator is a valuable tool for traders seeking to understand intraday momentum and potential reversal points. By measuring where the closing price lies within the day's range, it provides immediate insights into market sentiment. When used alongside other technical analysis tools, the IBS can enhance your trading strategy by identifying overbought or oversold conditions, confirming breakouts, and highlighting potential divergence signals.
Previous Day High and Low Count with Probabilities
Indicator Explanation
This indicator displays the number of days on which the previous day's high or low prices were not reached and calculates probabilities for future price movements based on this information. It stores the high and low values of the last 45 days and checks daily whether these levels were touched. Based on the number of days without touching either the high or the low, the indicator calculates the probability of future price movements in either direction (Up or Down).
The indicator offers customization options for label placement and color on the chart. The counts for the high and low touches, along with the calculated probabilities (in percentages), are displayed as labels on the chart. These labels can be shifted along the X-axis by up to 50 bars and can be customized in color and size. Additionally, the text for the labels can be freely chosen, giving the user improved flexibility and overview.
In summary, this indicator helps to:
- Track how often previous day's high and low levels were not reached.
- Estimate probabilities for future price movements based on this information.
- Customize the chart display for easier interpretation.
Strategy Concept
Probability and Touch Conditions:
A long position is entered only if:
The probability of reaching the high is at least 60%.
The price has not touched the previous day’s high in the last three days.
Similarly, for short positions:
The probability of reaching the low is at least 60%.
The price has not touched the previous day’s low in the last three days.
Incremental Position Size Increase:
On the 3rd consecutive day without a high/low touch and with the probability condition met, an initial position of 0.01 lots is opened.
On the 4th day, an additional position of 0.01 lots is added.
On the 5th day, an extra position of 0.02 lots is opened.
After a two-day pause, the situation is re-evaluated, and if conditions are still met, a 0.04-lot position is considered.
Trend Reversal Detection:
The strategy also includes a simple trend reversal check. If the market shows clear reversal signals, no new positions will be opened.
Adjustments and Risk Management
This strategy can be adjusted by modifying the probability values, the number of days without a high/low touch, and the lot sizes. Additionally, stop-loss and take-profit levels can be added to further control the risk and secure profits.
Strategy Concept
Probability and Touch Conditions:
A long position is entered only if:
The probability of reaching the high is at least 60%.
The price has not touched the previous day’s high in the last three days.
Similarly, for short positions:
The probability of reaching the low is at least 60%.
The price has not touched the previous day’s low in the last three days.
Incremental Position Size Increase:
On the 3rd consecutive day without a high/low touch and with the probability condition met, an initial position of 0.01 lots is opened.
On the 4th day, an additional position of 0.01 lots is added.
On the 5th day, an extra position of 0.02 lots is opened.
After a two-day pause, the situation is re-evaluated, and if conditions are still met, a 0.04-lot position is considered.
Trend Reversal Detection:
The strategy also includes a simple trend reversal check. If the market shows clear reversal signals, no new positions will be opened.
Risk Disclaimer
The author of this strategy does not assume any liability for potential losses or gains that may arise from the use of this strategy. Trading involves significant risk, and it is important to only trade with capital that you can afford to lose. The strategy presented is for educational purposes only and should not be considered as financial advice. Always conduct your own research and consider seeking advice from a professional financial advisor before making any trading decisions.
Nasan Hull-smoothed envelope The Nasan Hull-Smoothed Envelope indicator is a sophisticated overlay designed to track price movement within an adaptive "envelope." It dynamically adjusts to market volatility and trend strength, using a series of smoothing and volatility-correction techniques. Here's a detailed breakdown of its components, from the input settings to the calculated visual elements:
Inputs
look_back_length (500):
Defines the lookback period for calculating intraday volatility (IDV), smoothing it over time. A higher value means the indicator considers a longer historical range for volatility calculations.
sl (50):
Sets the smoothing length for the Hull Moving Average (HMA). The HMA smooths various lines, creating a balance between sensitivity and stability in trend signals.
mp (1.5):
Multiplier for IDV, scaling the volatility impact on the envelope. A higher multiplier widens the envelope to accommodate higher volatility, while a lower one tightens it.
p (0.625):
Weight factor that determines the balance between extremes (highest high and lowest low) and averages (sma of high and sma of low) in the high/low calculations. A higher p gives more weight to extremes, making the envelope more responsive to abrupt market changes.
Volatility Calculation (IDV)
The Intraday Volatility (IDV) metric represents the average volatility per bar as an exponentially smoothed ratio of the high-low range to the close price. This is calculated over the look_back_length period, providing a base volatility value which is then scaled by mp. The IDV enables the envelope to dynamically widen or narrow with market volatility, making it sensitive to current market conditions.
Composite High and Low Bands
The high and low bands define the upper and lower bounds of the envelope.
High Calculation
a_high:
Uses a multi-period approach to capture the highest highs over several intervals (5, 8, 13, 21, and 34 bars). Averaging these highs provides a more stable reference for the high end of the envelope, capturing both immediate and recent peak values.
b_high:
Computes the average of shorter simple moving averages (5, 8, and 13 bars) of the high prices, smoothing out fluctuations in the recent highs. This generates a balanced view of high price trends.
high_c:
Combines a_high and b_high using the weight p. This blend creates a composite high that balances between recent peaks and smoothed averages, making the upper envelope boundary adaptive to short-term price shifts.
Low Calculation
a_low and b_low:
Similar to the high calculation, these capture extreme lows and smooth low values over the same intervals. This approach creates a stable and adaptive lower bound for the envelope.
low_c:
Combines a_low and b_low using the weight p, resulting in a composite low that adjusts to price fluctuations while maintaining a stable trend line.
Volatility-Adjusted Bands
The final composite high (c_high) and composite low (c_low) bands are adjusted using IDV, which accounts for intraday volatility. When volatility is high, the bands expand; when it’s low, they contract, providing a visual representation of volatility-adjusted price bounds.
Basis Line
The basis line is a Hull Moving Average (HMA) of the average of c_high and c_low. The HMA is known for its smoothness and responsiveness, making the basis line a central trend indicator. The color of the basis line changes:
Green when the basis line is increasing.
Red when the basis line is decreasing.
This color-coded basis line serves as a quick visual reference for trend direction.
Short-Term Trend Strength Block
This component analyzes recent price action to assess short-term bullish and bearish momentum.
Conditions (green, red, green1, red1):
These are binary conditions that categorize price movements as bullish or bearish based on the close compared to the open and the close’s relationship with the exponential moving average (EMA). This separation helps capture different types of strength (above/below EMA) and different bullish or bearish patterns.
Composite Trend Strength Values:
Each of the bullish and bearish counts (above and below the EMA) is normalized, resulting in the following values:
green_EMAup_a and red_EMAup_a for bullish and bearish strength above the EMA.
green_EMAdown_a and red_EMAdown_a for bullish and bearish strength below the EMA.
Trend Strength (t_s):
This calculated metric combines the normalized trend strengths with extra weight to conditions above the EMA, giving more relevance to trends that have momentum behind them.
Enhanced Trend Strength
avg_movement:
Calculates the average absolute price movement over the short_term_length, providing a measurement of recent price activity that scales with volatility.
enhanced_t_s:
Multiplies t_s by avg_movement, creating an enhanced trend strength value that reflects both directional strength and the magnitude of recent price movement.
min and max:
Minimum and maximum percentile thresholds, respectively, based on enhanced_t_s for controlling the color gradient in the fill area.
Fill Area
The fill area between plot_c_high and plot_c_low is color-coded based on the enhanced trend strength (enhanced_t_s):
Gradient color transitions from blue to green based on the strength level, with blue representing weaker trends and green indicating stronger trends.
This visual fill provides an at-a-glance assessment of trend strength across the envelope, with color shifts highlighting momentum shifts.
Summary
The indicator’s purpose is to offer an adaptive price envelope that reflects real-time market volatility and trend strength. Here’s what each component contributes:
Basis Line: A trend-following line in the center that adjusts color based on trend direction.
Envelope (c_high, c_low): Adapts to volatility by expanding and contracting based on IDV, giving traders a responsive view of expected price bounds.
Fill Area: A color-gradient region representing trend strength within the envelope, helping traders easily identify momentum changes.
Overall, this tool helps to identify trend direction, market volatility, and strength of price movements, allowing for more informed decisions based on visual cues around price boundaries and trend momentum.
Price Action Smart Money Concepts [BigBeluga]THE SMART MONEY CONCEPTS Toolkit
The Smart Money Concepts [ BigBeluga ] is a comprehensive toolkit built around the principles of "smart money" behavior, which refers to the actions and strategies of institutional investors.
The Smart Money Concepts Toolkit brings together a suite of advanced indicators that are all interconnected and built around a unified concept: understanding and trading like institutional investors, or "smart money." These indicators are not just randomly chosen tools; they are features of a single overarching framework, which is why having them all in one place creates such a powerful system.
This all-in-one toolkit provides the user with a unique experience by automating most of the basic and advanced concepts on the chart, saving them time and improving their trading ideas.
Real-time market structure analysis simplifies complex trends by pinpointing key support, resistance, and breakout levels.
Advanced order block analysis leverages detailed volume data to pinpoint high-demand zones, revealing internal market sentiment and predicting potential reversals. This analysis utilizes bid/ask zones to provide supply/demand insights, empowering informed trading decisions.
Imbalance Concepts (FVG and Breakers) allows traders to identify potential market weaknesses and areas where price might be attracted to fill the gap, creating opportunities for entry and exit.
Swing failure patterns help traders identify potential entry points and rejection zones based on price swings.
Liquidity Concepts, our advanced liquidity algorithm, pinpoints high-impact events, allowing you to predict market shifts, strong price reactions, and potential stop-loss hunting zones. This gives traders an edge to make informed trading decisions based on liquidity dynamics.
🔵 FEATURES
The indicator has quite a lot of features that are provided below:
Swing market structure
Internal market structure
Mapping structure
Adjustable market structure
Strong/Weak H&L
Sweep
Volumetric Order block / Breakers
Fair Value Gaps / Breakers (multi-timeframe)
Swing Failure Patterns (multi-timeframe)
Deviation area
Equal H&L
Liquidity Prints
Buyside & Sellside
Sweep Area
Highs and Lows (multi-timeframe)
🔵 BASIC DEMONSTRATION OF ALL FEATURES
1. MARKET STRUCTURE
The preceding image illustrates the market structure functionality within the Smart Money Concepts indicator.
➤ Solid lines: These represent the core indicator's internal structure, forming the foundation for most other components. They visually depict the overall market direction and identify major reversal points marked by significant price movements (denoted as 'x').
➤ Internal Structure: These represent an alternative internal structure with the potential to drive more rapid market shifts. This is particularly relevant when a significant gap exists in the established swing structure, specifically between the Break of Structure (BOS) and the most recent Change of High/Low (CHoCH). Identifying these formations can offer opportunities for quicker entries and potential short-term reversals.
➤ Sweeps (x): These signify potential turning points in the market where liquidity is removed from the structure. This suggests a possible trend reversal and presents crucial entry opportunities. Sweeps are identified within both swing and internal structures, providing valuable insights for informed trading decisions.
➤ Mapping structure: A tool that automatically identifies and connects significant price highs and lows, creating a zig-zag pattern. It visualizes market structure, highlights trends, support/resistance levels, and potential breakouts. Helps traders quickly grasp price action patterns and make informed decisions.
➤ Color-coded candles based on market structure: These colors visually represent the underlying market structure, making it easier for traders to quickly identify trends.
➤ Extreme H&L: It visualizes market structure with extreme high and lows, which gives perspective for macro Market Structure.
2. VOLUMETRIC ORDER BLOCKS
Order blocks are specific areas on a financial chart where significant buying or selling activity has occurred. These are not just simple zones; they contain valuable information about market dynamics. Within each of these order blocks, volume bars represent the actual buying and selling activity that took place. These volume bars offer deeper insights into the strength of the order block by showing how much buying or selling power is concentrated in that specific zone.
Additionally, these order blocks can be transformed into Breaker Blocks. When an order block fails—meaning the price breaks through this zone without reversing—it becomes a breaker block. Breaker blocks are particularly useful for trading breakouts, as they signal that the market has shifted beyond a previously established zone, offering opportunities for traders to enter in the direction of the breakout.
Here's a breakdown:
➤ Bear Order Blocks (Red): These are zones where a lot of selling happened. Traders see these areas as places where sellers were strong, pushing the price down. When the price returns to these zones, it might face resistance and drop again.
➤ Bull Order Blocks (Green): These are zones where a lot of buying happened. Traders see these areas as places where buyers were strong, pushing the price up. When the price returns to these zones, it might find support and rise again.
These Order Blocks help traders identify potential areas for entering or exiting trades based on past market activity. The volume bars inside blocks show the amount of trading activity that occurred in these blocks, giving an idea of the strength of buying or selling pressure.
➤ Breaker Block: When an order block fails, meaning the price breaks through this zone without reversing, it becomes a breaker block. This indicates a significant shift in market liquidity and structure.
➤ A bearish breaker block occurs after a bullish order block fails. This typically happens when there's an upward trend, and a certain level that was expected to support the market's rise instead gives way, leading to a sharp decline. This decline indicates that sellers have overcome the buyers, absorbing liquidity and shifting the sentiment from bullish to bearish.
Conversely, a bullish breaker block is formed from the failure of a bearish order block. In a downtrend, when a level that was expected to act as resistance is breached, and the price shoots up, it signifies that buyers have taken control, overpowering the sellers.
3. FAIR VALUE GAPS:
A fair value gap (FVG), also referred to as an imbalance, is an essential concept in Smart Money trading. It highlights the supply and demand dynamics. This gap arises when there's a notable difference between the volume of buy and sell orders. FVGs can be found across various asset classes, including forex, commodities, stocks, and cryptocurrencies.
FVGs in this toolkit have the ability to detect raids of FVG which helps to identify potential price reversals.
Mitigation option helps to change from what source FVGs will be identified: Close, Wicks or AVG.
4. SWING FAILURE PATTERN (SFP):
The Swing Failure Pattern is a liquidity engineering pattern, generally used to fill large orders. This means, the SFP generally occurs when larger players push the price into liquidity pockets with the sole objective of filling their own positions.
SFP is a technical analysis tool designed to identify potential market reversals. It works by detecting instances where the price briefly breaks a previous high or low but fails to maintain that breakout, quickly reversing direction.
How it works:
Pattern Detection: The indicator scans for price movements that breach recent highs or lows.
Reversal Confirmation: If the price quickly reverses after breaching these levels, it's identified as an SFP.
➤ SFP Display:
Bullish SFP: Marked with a green symbol when price drops below a recent low before reversing upwards.
Bearish SFP: Marked with a red symbol when price rises above a recent high before reversing downwards.
➤ Deviation Levels: After detecting an SFP, the indicator projects white lines showing potential price deviation:
For bullish SFPs, the deviation line appears above the current price.
For bearish SFPs, the deviation line appears below the current price.
These deviation levels can serve as a potential trading opportunity or areas where the reversal might lose momentum.
With Volume Threshold and Filtering of SFP traders can adjust their trading style:
Volume Threshold: This setting allows traders to filter SFPs based on the volume of the reversal candle. By setting a higher volume threshold, traders can focus on potentially more significant reversals that are backed by higher trading activity.
SFP Filtering: This feature enables traders to filter SFP detection. It includes parameters such as:
5. LIQUIDITY CONCEPTS:
➤ Equal Lows (EQL) and Equal Highs (EQH) are important concepts in liquidity-based trading.
EQL: A series of two or more swing lows that occur at approximately the same price level.
EQH: A series of two or more swing highs that occur at approximately the same price level.
EQLs and EQHs are seen as potential liquidity pools where a large number of stop loss orders or limit orders may be clustered. They can be used as potential reverse points for trades.
This multi-period feature allows traders to select less and more significant EQL and EQH:
➤ Liquidity wicks:
Liquidity wicks are a minor representation of a stop-loss hunt during the retracement of a pivot point:
➤ Buy and Sell side liquidity:
The buy side liquidity represents a concentration of potential buy orders below the current price level. When price moves into this area, it can lead to increased buying pressure due to the execution of these orders.
The sell side liquidity indicates a pool of potential sell orders below the current price level. Price movement into this area can result in increased selling pressure as these orders are executed.
➤ Sweep Liquidation Zones:
Sweep Liquidation Zones are crucial for understanding market structure and potential future price movements. They provide insights into areas where significant market participants have been forced out of their positions, potentially setting up new trading opportunities.
🔵 USAGE & EXAMPLES
The core principle behind the success of this toolkit lies in identifying "confluence." This refers to the convergence of multiple trading indicators all signaling the same information at a specific point or area. By seeking such alignment, traders can significantly enhance the likelihood of successful trades.
MS + OBs
The chart illustrates a highly bullish setup where the price is rejecting from a bullish order block (POC), while simultaneously forming a bullish Swing Failure Pattern (SFP). This occurs after an internal structure change, marked by a bullish Change of Character (CHoCH). The price broke through a bearish order block, transforming it into a breaker block, further confirming the bullish momentum.
The combination of these elements—bullish order blocks, SFP, and CHoCH—creates a powerful bullish signal, reinforcing the potential for upward movement in the market.
SFP + Bear OB
This chart above displays a bearish setup with a high probability of a price move lower. The price is currently rejecting from a bear order block, which represents a key resistance area where significant selling pressure has previously occurred. A Swing Failure Pattern (SFP) has also formed near this bear order block, indicating that the price briefly attempted to break above a recent high but failed to sustain that upward movement. This failure suggests that buyers are losing momentum, and the market could be preparing for a move to the downside.
Additionally, we can toggle on the Deviation Area in the SFP section to highlight potential levels where price deviation might occur. These deviation areas represent zones where the price is likely to react after the Swing Failure Pattern:
BUY – SELL sides + EQL
The chart showcases a bullish setup with a high probability of price breaking out of the current sell-side resistance level. The market structure indicates a formation of Equal Lows (EQL), which often suggests a build-up of liquidity that could drive the price higher.
The presence of strong buy-side pressure (69%), indicated by the green zone at the bottom, reinforces this bullish outlook. This area represents a key support zone where buyers are outpacing sellers, providing the foundation for a potential upward breakout.
EQL + Bull ChoCh
This chart illustrates a potential bullish setup, driven by the formation of Equal Lows (EQL) followed by a bullish Change of Character (CHoCH). The presence of Equal Lows often signals a liquidity build-up, which can lead to a reversal when combined with additional bullish signals.
Liquidity grab + Bull ChoCh + FVGs
This chart demonstrates a strong bullish scenario, where several important market dynamics are at play. The price begins its upward momentum from Liquidity grab following a bullish Change of Character (CHoCH), signaling the transition from a bearish phase to a bullish one.
As the price progresses, it performs liquidity grabs, which serve to gather the necessary fuel for further movement. These liquidity grabs often occur before significant price surges, as large market participants exploit these areas to accumulate positions before pushing the price higher.
The chart also highlights a market imbalance area, showing strong momentum as the price moves swiftly through this zone.
In this examples, we see how the combination of multiple “smart money” tools helps identify a potential trade opportunities. This is just one of the many scenarios that traders can spot using this toolkit. Other combinations—such as order blocks, liquidity grabs, fair value gaps, and Swing Failure Patterns (SFPs)—can also be layered on top of these concepts to further refine your trading strategy.
🔵 SETTINGS
Window: limit calculation period
Swing: limit drawing function
Mapping structure: show structural points
Algorithmic Logic: (Extreme-Adjusted) Use max high/low or pivot point calculation
Algorithmic loopback: pivot point look back
Show Last: Amount of Order block to display
Hide Overlap: hide overlapping order blocks
Construction: Size of the order blocks
Fair value gaps: Choose between normal FVG or Breaker FVG
Mitigation: (close - wick - avg) point to mitigate the order block/imbalance
SFP lookback: find a higher / lower point to improve accuracy
Threshold: remove less relevant SFP
Equal H&L: (short-mid-long term) display longer term
Liquidity Prints: Shows wicks of candles where liquidity was grabbed
Sweep Area: Identify Sweep Liquidation areas
By combining these indicators in one toolkit, traders are equipped with a comprehensive suite of tools that address every angle of the Smart Money Concept. Instead of relying on disparate tools spread across various platforms, having them integrated into a single, cohesive system allows traders to easily see confluence and make more informed trading decisions.
WaveTrend With Divs & RSI(STOCH) Divs by WeloTradesWaveTrend with Divergences & RSI(STOCH) Divergences by WeloTrades
Overview
The "WaveTrend With Divergences & RSI(STOCH) Divergences" is an advanced Pine Script™ indicator designed for TradingView, offering a multi-dimensional analysis of market conditions. This script integrates several technical indicators—WaveTrend, Money Flow Index (MFI), RSI, and Stochastic RSI—into a cohesive tool that identifies both regular and hidden divergences across these indicators. These divergences can indicate potential market reversals and provide critical trading opportunities.
This indicator is not just a simple combination of popular tools; it offers extensive customization options, organized data presentation, and valuable trading signals that are easy to interpret. Whether you're a day trader or a long-term investor, this script enhances your ability to make informed decisions.
Originality and Usefulness
The originality of this script lies in its integration and the synergy it creates among the indicators used. Rather than merely combining multiple indicators, this script allows them to work together, enhancing each other's strengths. For example, by identifying divergences across WaveTrend, RSI, and Stochastic RSI simultaneously, the script provides multiple layers of confirmation, which reduces the likelihood of false signals and increases the reliability of trading signals.
The usefulness of this script is apparent in its ability to offer a consolidated view of market dynamics. It not only simplifies the analytical process by combining different indicators but also provides deeper insights through its divergence detection features. This comprehensive approach is designed to help traders identify potential market reversals, confirm trends, and ultimately make more informed trading decisions.
How the Components Work Together
1. Cross-Validation of Signals
WaveTrend: This indicator is primarily used to identify overbought and oversold conditions, as well as potential buy and sell signals. WaveTrend's ability to smooth price data and reduce noise makes it a reliable tool for identifying trend reversals.
RSI & Stochastic RSI: These momentum oscillators are used to measure the speed and change of price movements. While RSI identifies general overbought and oversold conditions, Stochastic RSI offers a more granular view by tracking the RSI’s level relative to its high-low range over a period of time. When these indicators align with WaveTrend signals, it adds a layer of confirmation that enhances the reliability of the signals.
Money Flow Index (MFI): This volume-weighted indicator assesses the inflow and outflow of money in an asset, giving insights into buying and selling pressure. By analyzing the MFI alongside WaveTrend and RSI indicators, the script can cross-validate signals, ensuring that buy or sell signals are supported by actual market volume.
Example Bullish scenario:
When a bullish divergence is detected on the RSI and confirmed by a corresponding bullish signal on the WaveTrend, along with an increasing Money Flow Index, the probability of a successful trade setup increases. This cross-validation minimizes the risk of acting on false signals, which might occur when relying on a single indicator.
Example Bearish scenario:
When a bearish divergence is detected on the RSI and confirmed by a corresponding bearish signal on the WaveTrend, along with an decreasing Money Flow Index, the probability of a successful trade setup increases. This cross-validation minimizes the risk of acting on false signals, which might occur when relying on a single indicator.
2. Divergence Detection and Market Reversals
Regular Divergences: Occur when the price action and an indicator (like RSI or WaveTrend) move in opposite directions. Regular bullish divergence signals a potential upward reversal when the price makes a lower low while the indicator makes a higher low. Conversely, regular bearish divergence suggests a downward reversal when the price makes a higher high, but the indicator makes a lower high.
Hidden Divergences: These occur when the price action and indicator move in the same direction, but with different momentum. Hidden bullish divergence suggests the continuation of an uptrend, while hidden bearish divergence suggests the continuation of a downtrend. By detecting these divergences across multiple indicators, the script identifies potential trend reversals or continuations with greater accuracy.
Example: The script might detect a regular bullish divergence on the WaveTrend while simultaneously identifying a hidden bullish divergence on the RSI. This combination suggests that while a trend reversal is possible, the overall market sentiment remains bullish, providing a nuanced view of the market.
A Regular Bullish Divergence Example:
A Hidden Bullish Divergence Example:
A Regular Bearish Divergence Example:
A Hidden Bearish Divergence Example:
3. Trend Strength and Sentiment Analysis
WaveTrend: Measures the strength and direction of the trend. By identifying the extremes of market sentiment (overbought and oversold levels), WaveTrend provides early signals for potential reversals.
Money Flow Index (MFI): Assesses the underlying sentiment by analyzing the flow of money. A rising MFI during an uptrend confirms strong buying pressure, while a falling MFI during a downtrend confirms selling pressure. This helps traders assess whether a trend is likely to continue or reverse.
RSI & Stochastic RSI: Offer a momentum-based perspective on the trend’s strength. High RSI or Stochastic RSI values indicate that the asset may be overbought, suggesting a potential reversal. Conversely, low values indicate oversold conditions, signaling a possible upward reversal.
Example:
During a strong uptrend, the WaveTrend & RSI's might signal overbought conditions, suggesting caution. If the MFI also shows decreasing buying pressure and the RSI reaches extreme levels, these indicators together suggest that the trend might be weakening, and a reversal could be imminent.
Example:
During a strong downtrend, the WaveTrend & RSI's might signal oversold conditions, suggesting caution. If the MFI also shows increasing buying pressure and the RSI reaches extreme levels, these indicators together suggest that the trend might be weakening, and a reversal could be imminent.
Conclusion
The "WaveTrend With Divergences & RSI(STOCH) Divergences" script offers a powerful, integrated approach to technical analysis by combining trend, momentum, and sentiment indicators into a single tool. Its unique value lies in the cross-validation of signals, the ability to detect divergences, and the comprehensive view it provides of market conditions. By offering traders multiple layers of analysis and customization options, this script is designed to enhance trading decisions, reduce false signals, and provide clearer insights into market dynamics.
WAVETREND
Display of WaveTrend:
Display of WaveTrend Setting:
WaveTrend Indicator Explanation
The WaveTrend indicator helps identify overbought and oversold conditions, as well as potential buy and sell signals. Its flexibility allows traders to adapt it to various strategies, making it a versatile tool in technical analysis.
WaveTrend Input Settings:
WT MA Source: Default: HLC3
What it is: The data source used for calculating the WaveTrend Moving Average.
What it does: Determines the input data to smooth price action and filter noise.
Example: Using HLC3 (average of High, Low, Close) provides a smoother data representation compared to using just the closing price.
Length (WT MA Length): Default: 3
What it is: The period used to calculate the Moving Average.
What it does: Adjusts the sensitivity of the WaveTrend indicator, where shorter lengths respond more quickly to price changes.
Example: A length of 3 is ideal for short-term analysis, providing quick reactions to price movements.
WT Channel Length & Average: Default: WT Channel Length = 9, Average = 12
What it is: Lengths used to calculate the WaveTrend channel and its average.
What it does: Smooths out the WaveTrend further, reducing false signals by averaging over a set period.
Example: Higher values reduce noise and help in identifying more reliable trends.
Channel: Style, Width, and Color:
What it is: Customization options for the WaveTrend channel's appearance.
What it does: Adjusts how the channel is displayed, including line style, width, and color.
Example: Choosing an area style with a distinct color can make the WaveTrend indicator clearly visible on the chart.
WT Buy & Sell Signals:
What it is: Settings to enable and customize buy and sell signals based on WaveTrend.
What it does: Allows for the display of buy/sell signals and customization of their shapes and colors.
When it gives a Buy Signal: Generated when the WaveTrend line crosses below an oversold level and then rises back, indicating a potential upward price movement.
When it gives a Sell Signal: Triggered when the WaveTrend line crosses above an overbought level and then declines, suggesting a possible downward trend.
Example: The script identifies these signals based on mean reversion principles, where prices tend to revert to the mean after reaching extremes. Traders can use these signals to time their entries and exits effectively.
WAVETREND OVERBOUGTH AND OVERSOLD LEVELS
Display of WaveTrend with Overbought & Oversold Levels:
Display of WaveTrend Overbought & Oversold Levels Settings:
WaveTrend Overbought & Oversold Levels Explanation
WT OB & OS Levels: Default: OB Level 1 = 53, OB Level 2 = 60, OS Level 1 = -53, OS Level 2 = -60
What it is: The default overbought and oversold levels used by the WaveTrend indicator to signal potential market reversals.
What it does: When the WaveTrend crosses above the OB levels, it indicates an overbought condition, potentially signaling a reversal or selling opportunity. Conversely, when it crosses below the OS levels, it indicates an oversold condition, potentially signaling a reversal or buying opportunity.
Example: A trader might use these levels to time entry or exit points, such as selling when the WaveTrend crosses into the overbought zone or buying when it crosses into the oversold zone.
Show OB/OS Levels: Default: True
What it is: Toggle options to show or hide the overbought and oversold levels on your chart.
What it does: When enabled, these levels will be visually represented on your chart, helping you to easily identify when the market reaches these critical thresholds.
Example: Displaying these levels can help you quickly see when the WaveTrend is approaching or has crossed into overbought or oversold territory, allowing for more informed trading decisions.
Line Style, Width, and Color for OB/OS Levels:
What it is: Options to customize the appearance of the OB and OS levels on your chart, including line style (solid, dotted, dashed), line width, and color.
What it does: These settings allow you to adjust how prominently these levels are displayed on your chart, which can help you better visualize and respond to overbought or oversold conditions.
Example: Setting a thicker, dashed line in a contrasting color can make these levels stand out more clearly, aiding in quick visual identification.
Example of Use:
Scenario: A trader wants to identify potential selling points when the market is overbought. They set the OB levels at 53 and 60, choosing a solid, red line style to make these levels clear on their chart. As the WaveTrend crosses above 53, they monitor for further price action, and upon crossing 60, they consider initiating a sell order.
WAVETREND DIVERGENCES
Display of WaveTrend Divergence:
Display of WaveTrend Divergence Setting:
WaveTrend Divergence Indicator Explanation
The WaveTrend Divergence feature helps identify potential reversal points in the market by highlighting divergences between the price and the WaveTrend indicator. Divergences can signal a shift in market momentum, indicating a possible trend reversal. This component allows traders to visualize and customize divergence detection on their charts.
WaveTrend Divergence Input Settings:
Potential Reversal Range: Default: 28
What it is: The number of bars to look back when detecting potential tops and bottoms.
What it does: Sets the range for identifying possible reversal points based on historical data.
Example: A setting of 28 looks back across the last 28 bars to find reversal points, offering a balance between responsiveness and reliability.
Reversal Minimum LVL OB & OS: Default: OB = 35, OS = -35
What it is: The minimum overbought and oversold levels required for detecting potential reversals.
What it does: Adjusts the thresholds that trigger a reversal signal based on the WaveTrend indicator.
Example: A higher OB level reduces the sensitivity to overbought conditions, potentially filtering out false reversal signals.
Lookback Bar Left & Right: Default: Left = 10, Right = 1
What it is: The number of bars to the left and right used to confirm a top or bottom.
What it does: Helps determine the position of peaks and troughs in the price action.
Example: A larger left lookback captures more extended price action before the peak, while a smaller right lookback focuses on the immediate past.
Lookback Range Min & Max: Default: Min = 5, Max = 60
What it is: The minimum and maximum range for the lookback period when identifying divergences.
What it does: Fine-tunes the detection of divergences by controlling the range over which the indicator looks back.
Example: A wider range increases the chances of detecting divergences across different market conditions.
R.Div Minimum LVL OB & OS: Default: OB = 53, OS = -53
What it is: The threshold levels for detecting regular divergences.
What it does: Adjusts the sensitivity of the regular divergence detection.
Example: Higher thresholds make the detection more conservative, identifying only stronger divergence signals.
H.Div Minimum LVL OB & OS: Default: OB = 20, OS = -20
What it is: The threshold levels for detecting hidden divergences.
What it does: Similar to regular divergence settings but for hidden divergences, which can indicate potential reversals that are less obvious.
Example: Lower thresholds make the hidden divergence detection more sensitive, capturing subtler market shifts.
Divergence Label Options:
What it is: Options to display and customize labels for regular and hidden divergences.
What it does: Allows users to visually differentiate between regular and hidden divergences using customizable labels and colors.
Example: Using different colors and symbols for regular (R) and hidden (H) divergences makes it easier to interpret signals on the chart.
Text Size and Color:
What it is: Customization options for the size and color of divergence labels.
What it does: Adjusts the readability and visibility of divergence labels on the chart.
Example: Larger text size may be preferred for charts with a lot of data, ensuring divergence labels stand out clearly.
FAST & SLOW MONEY FLOW INDEX
Display of Fast & Slow Money Flow:
Display of Fast & Slow Money Flow Setting:
Fast Money Flow Indicator Explanation
The Fast Money Flow indicator helps traders identify the flow of money into and out of an asset over a shorter time frame. By tracking the volume-weighted average of price movements, it provides insights into buying and selling pressure in the market, which can be crucial for making timely trading decisions.
Fast Money Flow Input Settings:
Fast Money Flow: Length: Default: 9
What it is: The period used for calculating the Fast Money Flow.
What it does: Determines the sensitivity of the Money Flow calculation. A shorter length makes the indicator more responsive to recent price changes, while a longer length provides a smoother signal.
Example: A length of 9 is suitable for traders looking to capture quick shifts in market sentiment over a short period.
Fast MFI Area Multiplier: Default: 5
What it is: A multiplier applied to the Money Flow area calculation.
What it does: Adjusts the size of the Money Flow area on the chart, effectively amplifying or reducing the visual impact of the indicator.
Example: A higher multiplier can make the Money Flow more prominent on the chart, aiding in the quick identification of significant money flow changes.
Y Position (Y Pos): Default: 0
What it is: The vertical position adjustment for the Fast Money Flow plot on the chart.
What it does: Allows you to move the Money Flow plot up or down on the chart to avoid overlap with other indicators.
Example: Adjusting the Y Position can be useful if you have multiple indicators on the chart and need to maintain clarity.
Fast MFI Style, Width, and Color:
What it is: Customization options for how the Fast Money Flow is displayed on the chart.
What it does: Enables you to choose between different plot styles (line or area), set the line width, and select colors for positive and negative money flow.
Example: Using different colors for positive (green) and negative (red) money flow helps to visually distinguish between periods of buying and selling pressure.
Slow Money Flow Indicator Explanation
The Slow Money Flow indicator tracks the flow of money into and out of an asset over a longer time frame. It provides a broader perspective on market sentiment, smoothing out short-term fluctuations and highlighting longer-term trends.
Slow Money Flow Input Settings:
Slow Money Flow: Length: Default: 12
What it is: The period used for calculating the Slow Money Flow.
What it does: A longer period smooths out short-term fluctuations, providing a clearer view of the overall money flow trend.
Example: A length of 12 is often used by traders looking to identify sustained trends rather than short-term volatility.
Slow MFI Area Multiplier: Default: 5
What it is: A multiplier applied to the Slow Money Flow area calculation.
What it does: Adjusts the size of the Money Flow area on the chart, helping to emphasize the indicator’s significance.
Example: Increasing the multiplier can help highlight the Money Flow in markets with less volatile price action.
Y Position (Y Pos): Default: 0
What it is: The vertical position adjustment for the Slow Money Flow plot on the chart.
What it does: Allows for vertical repositioning of the Money Flow plot to maintain chart clarity when used with other indicators.
Example: Adjusting the Y Position ensures that the Slow Money Flow indicator does not overlap with other key indicators on the chart.
Slow MFI Style, Width, and Color:
What it is: Customization options for the visual display of the Slow Money Flow on the chart.
What it does: Allows you to choose the plot style (line or area), set the line width, and select colors to differentiate positive and negative money flow.
Example: Customizing the colors for the Slow Money Flow allows traders to quickly distinguish between buying and selling trends in the market.
RSI
Display of RSI:
Display of RSI Setting:
RSI Indicator Explanation
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. It is typically used to identify overbought or oversold conditions in the market, providing traders with potential signals for buying or selling.
RSI Input Settings:
RSI Source: Default: Close
What it is: The data source used for calculating the RSI.
What it does: Determines which price data (e.g., close, open) is used in the RSI calculation, affecting how the indicator reflects market conditions.
Example: Using the closing price is standard practice, as it reflects the final agreed-upon price for a given time period.
MA Type (Moving Average Type): Default: SMA
What it is: The type of moving average applied to the RSI for smoothing purposes.
What it does: Changes the smoothing technique of the RSI, impacting how quickly the indicator responds to price movements.
Example: Using an Exponential Moving Average (EMA) will make the RSI more sensitive to recent price changes compared to a Simple Moving Average (SMA).
RSI Length: Default: 14
What it is: The period over which the RSI is calculated.
What it does: Adjusts the sensitivity of the RSI. A shorter length (e.g., 7) makes the RSI more responsive to recent price changes, while a longer length (e.g., 21) smooths out the indicator, reducing the number of signals.
Example: A 14-period RSI is commonly used for identifying overbought and oversold conditions, providing a balance between sensitivity and reliability.
RSI Plot Style, Width, and Color:
What it is: Options to customize the appearance of the RSI line on the chart.
What it does: Allows you to adjust the visual representation of the RSI, including the line width and color.
Example: Setting a thicker line width and a bright color like yellow can make the RSI more visible on the chart, aiding in quick analysis.
Display of RSI with RSI Moving Average:
RSI Moving Average Explanation
The RSI Moving Average adds a smoothing layer to the RSI, helping to filter out noise and provide clearer signals. It is particularly useful for confirming trend strength and identifying potential reversals.
RSI Moving Average Input Settings:
MA Length: Default: 14
What it is: The period over which the Moving Average is calculated on the RSI.
What it does: Adjusts the smoothing of the RSI, helping to reduce false signals and provide a clearer trend indication.
Example: A 14-period moving average on the RSI can smooth out short-term fluctuations, making it easier to spot genuine overbought or oversold conditions.
MA Plot Style, Width, and Color:
What it is: Customization options for how the RSI Moving Average is displayed on the chart.
What it does: Allows you to adjust the line width and color, helping to differentiate the Moving Average from the main RSI line.
Example: Using a contrasting color for the RSI Moving Average (e.g., magenta) can help it stand out against the main RSI line, making it easier to interpret the indicator.
STOCHASTIC RSI
Display of Stochastic RSI:
Display of Stochastic RSI Setting:
Stochastic RSI Indicator Explanation
The Stochastic RSI (Stoch RSI) is a momentum oscillator that measures the level of the RSI relative to its high-low range over a set period of time. It is used to identify overbought and oversold conditions, providing potential buy and sell signals based on momentum shifts.
Stochastic RSI Input Settings:
Stochastic RSI Length: Default: 14
What it is: The period over which the Stochastic RSI is calculated.
What it does: Adjusts the sensitivity of the Stochastic RSI. A shorter length makes the indicator more responsive to recent price changes, while a longer length smooths out the fluctuations, reducing noise.
Example: A length of 14 is commonly used to identify momentum shifts over a medium-term period, providing a balanced view of potential overbought or oversold conditions.
Display of Stochastic RSI %K Line:
Stochastic RSI %K Line Explanation
The %K line in the Stochastic RSI is the main line that tracks the momentum of the RSI over the chosen period. It is the faster-moving component of the Stochastic RSI, often used to identify entry and exit points.
Stochastic RSI %K Input Settings:
%K Length: Default: 3
What it is: The period used for smoothing the %K line of the Stochastic RSI.
What it does: Smoothing the %K line helps reduce noise and provides a clearer signal for potential market reversals.
Example: A smoothing length of 3 is common, offering a balance between responsiveness and noise reduction, making it easier to spot significant momentum shifts.
%K Plot Style, Width, and Color:
What it is: Customization options for the visual representation of the %K line.
What it does: Allows you to adjust the appearance of the %K line on the chart, including line width and color, to fit your visual preferences.
Example: Setting a blue color and a medium width for the %K line makes it stand out clearly on the chart, helping to identify key points of momentum change.
%K Fill Color (Above):
What it is: The fill color that appears above the %K line on the chart.
What it does: Adds visual clarity by shading the area above the %K line, making it easier to interpret the direction and strength of momentum.
Example: Using a light blue fill color above the %K line can help emphasize bullish momentum, making it visually prominent.
Display of Stochastic RSI %D Line:
Stochastic RSI %D Line Explanation
The %D line in the Stochastic RSI is a moving average of the %K line and acts as a signal line. It is slower-moving compared to the %K line and is often used to confirm signals or identify potential reversals when it crosses the %K line.
Stochastic RSI %D Input Settings:
%D Length: Default: 3
What it is: The period used for smoothing the %D line of the Stochastic RSI.
What it does: Smooths out the %D line, making it less sensitive to short-term fluctuations and more reliable for identifying significant market signals.
Example: A length of 3 is often used to provide a smoothed signal line that can help confirm trends or reversals indicated by the %K line.
%D Plot Style, Width, and Color:
What it is: Customization options for the visual representation of the %D line.
What it does: Allows you to adjust the appearance of the %D line on the chart, including line width and color, to match your preferences.
Example: Setting an orange color and a thicker line width for the %D line can help differentiate it from the %K line, making crossover points easier to spot.
%D Fill Color (Below):
What it is: The fill color that appears below the %D line on the chart.
What it does: Adds visual clarity by shading the area below the %D line, making it easier to interpret bearish momentum.
Example: Using a light orange fill color below the %D line can highlight bearish conditions, making it visually easier to identify.
RSI & STOCHASTIC RSI OVERBOUGHT AND OVERSOLD LEVELS
Display of RSI & Stochastic with Overbought & Oversold Levels:
Display of RSI & Stochastic Overbought & Oversold Settings:
RSI & Stochastic Overbought & Oversold Levels Explanation
The Overbought (OB) and Oversold (OS) levels for RSI and Stochastic RSI indicators are key thresholds that help traders identify potential reversal points in the market. These levels are used to determine when an asset is likely overbought or oversold, which can signal a potential trend reversal.
RSI & Stochastic Overbought & Oversold Input Settings:
RSI & Stochastic Level 1 Overbought (OB) & Oversold (OS): Default: OB Level = 170, OS Level = 130
What it is: The first set of thresholds for determining overbought and oversold conditions for both RSI and Stochastic RSI indicators.
What it does: When the RSI or Stochastic RSI crosses above the overbought level, it suggests that the asset might be overbought, potentially signaling a sell opportunity. Conversely, when these indicators drop below the oversold level, it suggests the asset might be oversold, potentially signaling a buy opportunity.
Example: If the RSI crosses above 170, traders might look for signs of a potential trend reversal to the downside, while a cross below 130 might indicate a reversal to the upside.
RSI & Stochastic Level 2 Overbought (OB) & Oversold (OS): Default: OB Level = 180, OS Level = 120
What it is: The second set of thresholds for determining overbought and oversold conditions for both RSI and Stochastic RSI indicators.
What it does: These levels provide an additional set of reference points, allowing traders to differentiate between varying degrees of overbought and oversold conditions, potentially leading to more refined trading decisions.
Example: When the RSI crosses above 180, it might indicate an extreme overbought condition, which could be a stronger signal for a sell, while a cross below 120 might indicate an extreme oversold condition, which could be a stronger signal for a buy.
RSI & Stochastic Overbought (OB) Band Customization:
OB Level 1: Width, Style, and Color:
What it is: Customization options for the visual appearance of the first overbought band on the chart.
What it does: Allows you to set the line width, style (solid, dotted, dashed), and color for the first overbought band, enhancing its visibility on the chart.
Example: A dashed red line with medium width can clearly indicate the first overbought level, helping traders quickly identify when this threshold is crossed.
OB Level 2: Width, Style, and Color:
What it is: Customization options for the visual appearance of the second overbought band on the chart.
What it does: Allows you to set the line width, style, and color for the second overbought band, providing a clear distinction from the first band.
Example: A dashed red line with a slightly thicker width can represent a more significant overbought level, making it easier to differentiate from the first level.
RSI & Stochastic Oversold (OS) Band Customization:
OS Level 1: Width, Style, and Color:
What it is: Customization options for the visual appearance of the first oversold band on the chart.
What it does: Allows you to set the line width, style (solid, dotted, dashed), and color for the first oversold band, making it visually prominent.
Example: A dashed green line with medium width can highlight the first oversold level, helping traders identify potential buying opportunities.
OS Level 2: Width, Style, and Color:
What it is: Customization options for the visual appearance of the second oversold band on the chart.
What it does: Allows you to set the line width, style, and color for the second oversold band, providing an additional visual cue for extreme oversold conditions.
Example: A dashed green line with a thicker width can represent a more significant oversold level, offering a stronger visual cue for potential buying opportunities.
RSI DIVERGENCES
Display of RSI Divergence Labels:
Display of RSI Divergence Settings:
RSI Divergence Lookback Explanation
The RSI Divergence settings allow traders to customize the parameters for detecting divergences between the RSI (Relative Strength Index) and price action. Divergences occur when the price moves in the opposite direction to the RSI, potentially signaling a trend reversal. These settings help refine the accuracy of divergence detection by adjusting the lookback period and range. ( NOTE: This setting only imply to the RSI. This doesn't effect the STOCHASTIC RSI. )
RSI Divergence Lookback Input Settings:
Lookback Left: Default: 10
What it is: The number of bars to look back from the current bar to detect a potential divergence.
What it does: Defines the left-side lookback period for identifying pivot points in the RSI, which are used to spot divergences. A longer lookback period may capture more significant trends but could also miss shorter-term divergences.
Example: A setting of 10 bars means the script will consider pivot points up to 10 bars before the current bar to check for divergence patterns.
Lookback Right: Default: 1
What it is: The number of bars to look forward from the current bar to complete the divergence pattern.
What it does: Defines the right-side lookback period for confirming a potential divergence. This setting helps ensure that the identified divergence is valid by allowing the script to check subsequent bars for confirmation.
Example: A setting of 1 bar means the script will look at the next bar to confirm the divergence pattern, ensuring that the signal is reliable.
Lookback Range Min: Default: 5
What it is: The minimum range of bars required to detect a valid divergence.
What it does: Sets a lower bound on the range of bars considered for divergence detection. A lower minimum range might capture more frequent but possibly less significant divergences.
Example: Setting the minimum range to 5 ensures that only divergences spanning at least 5 bars are considered, filtering out very short-term patterns.
Lookback Range Max: Default: 60
What it is: The maximum range of bars within which a divergence can be detected.
What it does: Sets an upper bound on the range of bars considered for divergence detection. A larger maximum range might capture more significant divergences but could also include less relevant long-term patterns.
Example: Setting the maximum range to 60 bars allows the script to detect divergences over a longer timeframe, capturing more extended divergence patterns that could indicate major trend reversals.
RSI Divergence Explanation
RSI divergences occur when the RSI indicator and price action move in opposite directions, signaling potential trend reversals. This section of the settings allows traders to customize the appearance and detection of both regular and hidden bullish and bearish divergences.
RSI Divergence Input Settings:
R. Bullish Div Label: Default: True
What it is: An option to display labels for regular bullish divergences.
What it does: Enables or disables the visibility of labels that mark regular bullish divergences, where the price makes a lower low while the RSI makes a higher low, indicating a potential upward reversal.
Example: A trader might use this to spot buying opportunities in a downtrend when a bullish divergence suggests the trend may be reversing.
Bullish Label Color, Line Width, and Line Color:
What it is: Settings to customize the appearance of regular bullish divergence labels.
What it does: Allows you to choose the color of the labels, adjust the width of the divergence lines, and select the color for these lines.
Example: Selecting a green label color and a distinct line width makes bullish divergences easily recognizable on your chart.
R. Bearish Div Label: Default: True
What it is: An option to display labels for regular bearish divergences.
What it does: Enables or disables the visibility of labels that mark regular bearish divergences, where the price makes a higher high while the RSI makes a lower high, indicating a potential downward reversal.
Example: A trader might use this to spot selling opportunities in an uptrend when a bearish divergence suggests the trend may be reversing.
Bearish Label Color, Line Width, and Line Color:
What it is: Settings to customize the appearance of regular bearish divergence labels.
What it does: Allows you to choose the color of the labels, adjust the width of the divergence lines, and select the color for these lines.
Example: Choosing a red label color and a specific line width makes bearish divergences clearly stand out on your chart.
H. Bullish Div Label: Default: False
What it is: An option to display labels for hidden bullish divergences.
What it does: Enables or disables the visibility of labels that mark hidden bullish divergences, where the price makes a higher low while the RSI makes a lower low, indicating potential continuation of an uptrend.
Example: A trader might use this to confirm an existing uptrend when a hidden bullish divergence signals continued buying strength.
Hidden Bullish Label Color, Line Width, and Line Color:
What it is: Settings to customize the appearance of hidden bullish divergence labels.
What it does: Allows you to choose the color of the labels, adjust the width of the divergence lines, and select the color for these lines.
Example: A softer green color with a thinner line width might be chosen to subtly indicate hidden bullish divergences, keeping the chart clean while providing useful information.
H. Bearish Div Label: Default: False
What it is: An option to display labels for hidden bearish divergences.
What it does: Enables or disables the visibility of labels that mark hidden bearish divergences, where the price makes a lower high while the RSI makes a higher high, indicating potential continuation of a downtrend.
Example: A trader might use this to confirm an existing downtrend when a hidden bearish divergence signals continued selling pressure.
Hidden Bearish Label Color, Line Width, and Line Color:
What it is: Settings to customize the appearance of hidden bearish divergence labels.
What it does: Allows you to choose the color of the labels, adjust the width of the divergence lines, and select the color for these lines.
Example: A muted red color with a thinner line width might be selected to indicate hidden bearish divergences without overwhelming the chart.
Divergence Text Size and Color: Default: S (Small)
What it is: Settings to adjust the size and color of text labels for RSI divergences.
What it does: Allows you to customize the size and color of text labels that display the divergence information on the chart.
Example: Choosing a small text size with a bright white color can make divergence labels easily readable without taking up too much space on the chart.
STOCHASTIC DIVERGENCES
Display of Stochastic RSI Divergence Labels:
Display of Stochastic RSI Divergence Settings:
Stochastic RSI Divergence Explanation
Stochastic RSI divergences occur when the Stochastic RSI indicator and price action move in opposite directions, signaling potential trend reversals. These settings allow traders to customize the detection and visual representation of both regular and hidden bullish and bearish divergences in the Stochastic RSI.
Stochastic RSI Divergence Input Settings:
R. Bullish Div Label: Default: True
What it is: An option to display labels for regular bullish divergences in the Stochastic RSI.
What it does: Enables or disables the visibility of labels that mark regular bullish divergences, where the price makes a lower low while the Stochastic RSI makes a higher low, indicating a potential upward reversal.
Example: A trader might use this to spot buying opportunities in a downtrend when a bullish divergence in the Stochastic RSI suggests the trend may be reversing.
Bullish Label Color, Line Width, and Line Color:
What it is: Settings to customize the appearance of regular bullish divergence labels in the Stochastic RSI.
What it does: Allows you to choose the color of the labels, adjust the width of the divergence lines, and select the color for these lines.
Example: Selecting a blue label color and a distinct line width makes bullish divergences in the Stochastic RSI easily recognizable on your chart.
R. Bearish Div Label: Default: True
What it is: An option to display labels for regular bearish divergences in the Stochastic RSI.
What it does: Enables or disables the visibility of labels that mark regular bearish divergences, where the price makes a higher high while the Stochastic RSI makes a lower high, indicating a potential downward reversal.
Example: A trader might use this to spot selling opportunities in an uptrend when a bearish divergence in the Stochastic RSI suggests the trend may be reversing.
Bearish Label Color, Line Width, and Line Color:
What it is: Settings to customize the appearance of regular bearish divergence labels in the Stochastic RSI.
What it does: Allows you to choose the color of the labels, adjust the width of the divergence lines, and select the color for these lines.
Example: Choosing an orange label color and a specific line width makes bearish divergences in the Stochastic RSI clearly stand out on your chart.
H. Bullish Div Label: Default: False
What it is: An option to display labels for hidden bullish divergences in the Stochastic RSI.
What it does: Enables or disables the visibility of labels that mark hidden bullish divergences, where the price makes a higher low while the Stochastic RSI makes a lower low, indicating potential continuation of an uptrend.
Example: A trader might use this to confirm an existing uptrend when a hidden bullish divergence in the Stochastic RSI signals continued buying strength.
Hidden Bullish Label Color, Line Width, and Line Color:
What it is: Settings to customize the appearance of hidden bullish divergence labels in the Stochastic RSI.
What it does: Allows you to choose the color of the labels, adjust the width of the divergence lines, and select the color for these lines.
Example: A softer blue color with a thinner line width might be chosen to subtly indicate hidden bullish divergences, keeping the chart clean while providing useful information.
H. Bearish Div Label: Default: False
What it is: An option to display labels for hidden bearish divergences in the Stochastic RSI.
What it does: Enables or disables the visibility of labels that mark hidden bearish divergences, where the price makes a lower high while the Stochastic RSI makes a higher high, indicating potential continuation of a downtrend.
Example: A trader might use this to confirm an existing downtrend when a hidden bearish divergence in the Stochastic RSI signals continued selling pressure.
Hidden Bearish Label Color, Line Width, and Line Color:
What it is: Settings to customize the appearance of hidden bearish divergence labels in the Stochastic RSI.
What it does: Allows you to choose the color of the labels, adjust the width of the divergence lines, and select the color for these lines.
Example: A muted orange color with a thinner line width might be selected to indicate hidden bearish divergences without overwhelming the chart.
Divergence Text Size and Color: Default: S (Small)
What it is: Settings to adjust the size and color of text labels for Stochastic RSI divergences.
What it does: Allows you to customize the size and color of text labels that display the divergence information on the chart.
Example: Choosing a small text size with a bright white color can make divergence labels easily readable without taking up too much space on the chart.
Alert System:
Custom Alerts for Divergences and Reversals:
What it is: The script includes customizable alert conditions to notify you of detected divergences or potential reversals based on WaveTrend, RSI, and Stochastic RSI.
What it does: Helps you stay informed of key market movements without constantly monitoring the charts, enabling timely decisions.
Example: Setting an alert for regular bearish divergence on the WaveTrend could notify you of a potential sell opportunity as soon as it is detected.
How to Use Alerts:
Set up custom alerts in TradingView based on these conditions to be notified of potential trading opportunities. Alerts are triggered when the indicator detects conditions that match the selected criteria, such as divergences or potential reversals.
By following the detailed guidelines and examples above, you can effectively use and customize this powerful indicator to suit your trading strategy.
For further understanding and customization, refer to the input settings within the script and adjust them to match your trading style and preferences.
How Components Work Together
Synergy and Cross-Validation: The indicator combines multiple layers of analysis to validate trading signals. For example, a WaveTrend buy signal that coincides with a bullish divergence in RSI and positive fast money flow is likely to be more reliable than any single indicator’s signal. This cross-validation reduces the likelihood of false signals and enhances decision-making.
Comprehensive Market Analysis: Each component plays a role in analyzing different aspects of the market. WaveTrend focuses on trend strength, Money Flow indicators assess market sentiment, while RSI and Stochastic RSI offer detailed views of price momentum and potential reversals.
Ideal For
Traders who require a reliable, multifaceted tool for detecting market trends and reversals.
Investors seeking a deeper understanding of market dynamics across different timeframes and conditions, whether in forex, equities, or cryptocurrency markets.
This script is designed to provide a comprehensive tool for technical analysis, combining multiple indicators and divergence detection into one versatile and customizable script. It is especially useful for traders who want to monitor various indicators simultaneously and look for convergence or divergence signals across different technical tools.
Acknowledgements
Special thanks to these amazing creators for inspiration and their creations:
I want to thank these amazing creators for creating there amazing indicators , that inspired me and also gave me a head start by making this indicator! Without their amazing indicators it wouldn't be possible!
vumanchu: VuManChu Cipher B Divergences.
MisterMoTa: RSI + Divergences + Alerts .
DevLucem: Plain Stochastic Divergence.
Note
This indicator is designed to be a powerful tool in your trading arsenal. However , it is essential to backtest and adjust the settings according to your trading strategy before applying it to live trading . If you have any questions or need further assistance, feel free to reach out.
Previous Highs & Lows [LuxAlgo]The Previous Highs & Lows indicator highlights a user-set amount of previous maximum/minimum prices made within specific intervals, these are displayed as levels customizable levels.
Additionally, one upper and lower zone constructed from the previously displayed highs/lows is included, providing support/resistance areas.
🔶 USAGE
Previous highs/lows are often perceived as key trading levels with the potential of generating multiple reactions upon being reached.
While the daily interval is more commonly used, users can use different intervals, with the indicator supporting hourly, daily, weekly, monthly, and yearly intervals. Using higher intervals on low timeframes can return more distant levels relative to the most recent price, which might not be relevant.
Each level is numbered, with more recent previous highs/lows having a lower number associated with them, users can also highlight more recent levels through a transparency gradient.
Users can control the amount of previous highs/lows displayed using the "Show Last" settings, with a higher value providing more potential support/resistance. Returned previous highs/lows can eventually be filtered out based on their position by enabling the "Filter Based On Position" setting, only keeping previous highs above the current closing price and previous lows below the current closing price, giving more relevant levels as a result.
🔹 Previous High/Low Areas
The indicator includes two areas constructed from the respective percentiles of the returned previous highs/lows. These can be useful as more general support/resistance areas.
Wider areas are often indicative of a group of previous highs or lows being more dispersed, resulting in areas that are easier to reach. Wider areas can also be obtained by increasing the "Areas Width" setting.
Note: Areas will only be displayed if "Show Last" is greater than 1
🔶 SETTINGS
Show Last: Determines the amount of more recent previous highs and previous low levels displayed by the indicator.
Interval: Interval used to capture maximum/minimum price values,
Areas Width: Width of the displayed top/bottom areas, with higher values returning wider areas.
Filter Based On Position: When enabled only display previous highs above the current closing price and previous lows below the current closing price.
🔹 Style
Minimum Gradient Transparency: Minimum transparency value applied to the colors of the oldest displayed previous highs/lows levels.
ZigZag Library [TradingFinder]🔵 Introduction
The "Zig Zag" indicator is an analytical tool that emerges from pricing changes. Essentially, it connects consecutive high and low points in an oscillatory manner. This method helps decipher price changes and can also be useful in identifying traditional patterns.
By sifting through partial price changes, "Zig Zag" can effectively pinpoint price fluctuations within defined time intervals.
🔵 Key Features
1. Drawing the Zig Zag based on Pivot points :
The algorithm is based on pivots that operate consecutively and alternately (switch between high and low swing). In this way, zigzag lines are connected from a swing high to a swing low and from a swing low to a swing high.
Also, with a very low probability, it is possible to have both low pivots and high pivots in one candle. In these cases, the algorithm tries to make the best decision to make the most suitable choice.
You can control what period these decisions are based on through the "PiPe" parameter.
2.Naming and labeling each pivot based on its position as "Higher High" (HH), "Lower Low" (LL), "Higher Low" (HL), and "Lower High" (LH).
Additionally, classic patterns such as HH, LH, LL, and HL can be recognized. All traders analyzing financial markets using classic patterns and Elliot Waves can benefit from the "zigzag" indicator to facilitate their analysis.
" HH ": When the price is higher than the previous peak (Higher High).
" HL ": When the price is higher than the previous low (Higher Low).
" LH ": When the price is lower than the previous peak (Lower High).
" LL ": When the price is lower than the previous low (Lower Low).
🔵 How to Use
First, you can add the library to your code as shown in the example below.
import TFlab/ZigZagLibrary_TradingFinder/1 as ZZ
Function "ZigZag" Parameters :
🟣 Logical Parameters
1. HIGH : You should place the "high" value here. High is a float variable.
2. LOW : You should place the "low" value here. Low is a float variable.
3. BAR_INDEX : You should place the "bar_index" value here. Bar_index is an integer variable.
4. PiPe : The desired pivot period for plotting Zig Zag is placed in this parameter. For example, if you intend to draw a Zig Zag with a Swing Period of 5, you should input 5.
PiPe is an integer variable.
Important :
Apart from the "PiPe" indicator, which is part of the customization capabilities of this indicator, you can create a multi-time frame mode for the indicator using 3 parameters "High", "Low" and "BAR_INDEX". In this way, instead of the data of the current time frame, use the data of other time frames.
Note that it is better to use the current time frame data, because using the multi-time frame mode is associated with challenges that may cause bugs in your code.
🟣 Setting Parameters
5. SHOW_LINE : It's a boolean variable. When true, the Zig Zag line is displayed, and when false, the Zig Zag line display is disabled.
6. STYLE_LINE : In this variable, you can determine the style of the Zig Zag line. You can input one of the 3 options: line.style_solid, line.style_dotted, line.style_dashed. STYLE_LINE is a constant string variable.
7. COLOR_LINE : This variable takes the input of the line color.
8. WIDTH_LINE : The input for this variable is a number from 1 to 3, which is used to adjust the thickness of the line that draws the Zig Zag. WIDTH_LINE is an integer variable.
9. SHOW_LABEL : It's a boolean variable. When true, labels are displayed, and when false, label display is disabled.
10. COLOR_LABEL : The color of the labels is set in this variable.
11. SIZE_LABEL : The size of the labels is set in this variable. You should input one of the following options: size.auto, size.tiny, size.small, size.normal, size.large, size.huge.
12. Show_Support : It's a boolean variable that, when true, plots the last support line, and when false, disables its plotting.
13. Show_Resistance : It's a boolean variable that, when true, plots the last resistance line, and when false, disables its plotting.
Suggestion :
You can use the following code snippet to import Zig Zag into your code for time efficiency.
//import Library
import TFlab/ZigZagLibrary_TradingFinder/1 as ZZ
// Input and Setting
// Zig Zag Line
ShZ = input.bool(true , 'Show Zig Zag Line', group = 'Zig Zag') //Show Zig Zag
PPZ = input.int(5 ,'Pivot Period Zig Zag Line' , group = 'Zig Zag') //Pivot Period Zig Zag
ZLS = input.string(line.style_dashed , 'Zig Zag Line Style' , options = , group = 'Zig Zag' )
//Zig Zag Line Style
ZLC = input.color(color.rgb(0, 0, 0) , 'Zig Zag Line Color' , group = 'Zig Zag') //Zig Zag Line Color
ZLW = input.int(1 , 'Zig Zag Line Width' , group = 'Zig Zag')//Zig Zag Line Width
// Label
ShL = input.bool(true , 'Label', group = 'Label') //Show Label
LC = input.color(color.rgb(0, 0, 0) , 'Label Color' , group = 'Label')//Label Color
LS = input.string(size.tiny , 'Label size' , options = , group = 'Label' )//Label size
Show_Support= input.bool(false, 'Show Last Support',
tooltip = 'Last Support' , group = 'Support and Resistance')
Show_Resistance = input.bool(false, 'Show Last Resistance',
tooltip = 'Last Resistance' , group = 'Support and Resistance')
//Call Function
ZZ.ZigZag(high ,low ,bar_index ,PPZ , ShZ ,ZLS , ZLC, ZLW ,ShL , LC , LS , Show_Support , Show_Resistance )
Scoopy StacksWaffle Around Multiple
(Open, High, Low, Close) Stacks On
Pre/Post Market & (Daily, Weekly,
Monthly, Yearly) Sessions With
Meticulous Columns, Rows, Tooltips,
Colors, Custom Ideas, and Alerts.
Sessions Use Two Step Incremental Values
Default Value: (1) Shows Two Previous
(O, H, L, C); Increasing Value Swaps
Sessions With Next Two Stacks.
⬛️ KEY WORDS:
🟢 Crossover | 🔴 Crossunder
📗 High | 📕 Low
📔 Open | 📓 Close
🥇 First Idea | 🥈 Second Idea
🥉 Third Idea | 🎖️ Fourth Idea
🟥 ALERTS:
Default Option: (Per Bar)
Alerts Once Conditions Are Met
(Bar Close) Alerts When Bar Closes
Default Option: (Reg)
Alerts During Regular Market
Trading Hours, (0930-1600)
(Ext) Alerts During Extended
Market Hours, (1600-0930)
(24/7) Alerts All Day
Optional Preferences:
Regular Alerts - Stocks
Extended Alerts - Futures
24/7 Alerts - Crypto
🟧 STACKS:
Default Value: (1)
Incremental Stack Value, Increasing Value
Swaps Sessions With the Next Two Stacks
(✓) Swap Stacks?
Pre/Post Market High/Lows,
1-2 Day High/Lows, 1-2 Week High/Lows,
1-2 Month High/Lows, 1-2 Year High/Lows
( ) Swap Stacks?
Pre/Post Market Open/Close,
1-2 Day Open/Close, 1-2 Week Open/Close,
1-2 Month Open/Close, 1-2 Year Open/Close
🟨 EXAMPLES:
Default Stack:
🟢 | 📗 Pre Market High (PRE) | 4600.00
🔴 | 📕 Post Market Low (POST) | 420.00
Optional: (Open)
🟢 | 📔 Post Market Open (POST) | 4400.00
Optional: (Close)
🔴 | 📓 Pre Market Close (PRE) | 430.00
Default Stack Value: (1)
🔴 | 📗 1 Day High (1DH) | 460.00
Next Stack Value: (3)
🟢 | 📕 4 Day Low (4DL) | 420.00
Optional: (Open)
🔴 | 📔 2 Day Open (2DO) | 440.00
Optional: (Close)
🟢 | 📓 3 Day Close (3DC) | 430.00
Default Stack Value: (5)
🟢 | 📗 5 Week High (5WH) | 460.00
Next Stack Value: (7)
🔴 | 📕 8 Week Low (8WL) | 420.00
Optional: (Open)
🔴 | 📔 7 Week Open (7WO) | 4400.00
Optional: (Close)
🟢 | 📓 6 Week Close (6WC) | 430.00
Default Stack Value: (9)
🔴 | 📗 9 Month High (9MH) | 460.00
Next Stack Value: (11)
🟢 | 📕 12 Month Low (12ML) | 420.00
Optional: (Open)
🟢 | 📔 11 Month Open (11MO) | 4400.00
Optional: (Close)
🔴 | 📓 10 Month Close (10MC) | 430.00
Default Stack Value: (13)
🟢 | 📗 13 Year High (13YH) | 460.00
Next Stack Value: (15)
🟢 | 📕 16 Year Low (16YL) | 420.00
Optional: (Open)
🔴 | 📔 15 Year Open (15YO) | 4400.00
Optional: (Close)
🔴 | 📓 14 Year Close (14YC) | 430.00
🟩 TABLES:
Default Value: (1)
Moves Table Up, Down, Left, or Right
Based on Second Default Value
First Default Value: (Top Right)
Sets Table Placement, Middle Center
Allows Table To Move In All Directions
Second Default Value: (Default)
Fixed Table Position, Switching Values
Moves Direction of the Table
🟦 IDEAS:
(✓) Show Ideas?
Shows Four Ideas With Custom Texts
and Values; Ideas Are Based Around
Post-It Note Reminders with Alerts
Suggestions For Text Ideas:
Take Profit, Stop Loss, Trim, Hold,
Long, Short, Bounce Spot, Retest,
Chop, Support, Resistance, Buy, Sell
🟪 EXAMPLES:
Default Value: (5)
Shows the Custom Table Value For
Sorted Table Positions and Alerts
Default Text: (🥇)
Shown On First Table Cell and
Message Appearing On Alerts
Alert Shows: 🟢 | 🥇 | 5.00
Default Value: (10)
Shows the Custom Table Value For
Sorted Table Positions and Alerts
Default Text: (🥈)
Shown On Second Table Cell and
Message Appearing On Alerts
Alert Shows: 🔴 | 🥈 | 10.00
Default Value: (50)
Shows the Custom Table Value For
Sorted Table Positions and Alerts
Default Text: (🥉)
Shown On Third Table Cell and
Message Appearing On Alerts
Alert Shows: 🟢 | 🥉 | 50.00
Default Value: (100)
Shows the Custom Table Value For
Sorted Table Positions and Alerts
Default Text: (🎖️)
Shown On Fourth Table Cell and
Message Appearing On Alerts
Alert Shows: 🔴 | 🎖️ | 100.00
⬛️ REFERENCES:
Pre-market Highs & Lows on regular
trading hours (RTH) chart
By Twingall
Previous Day Week Highs & Lows
By Sbtnc
Screener for 40+ instruments
By QuantNomad
Daily Weekly Monthly Yearly Opens
By Meliksah55
Ribbit RangesBounce Around Multiple
(Open, High, Low, Close) Ranges
On Pre/Post Market & (Daily, Weekly,
Monthly, Yearly) Sessions With
Meticulous Lines, Labels, Tooltips,
Colors, Custom Ideas, and Alerts.
Sessions Use Two Step Incremental Values
Default Value: (1) Shows Two Previous
(O, H, L, C); Increasing Value Swaps
Sessions With Next Two Ranges.
⬛️ KEY WORDS:
🟢 Crossover | 🔴 Crossunder
📗 High | 📕 Low
📔 Open | 📓 Close
🥇 First Idea | 🥈 Second Idea
🥉 Third Idea | 🎖️ Fourth Idea
🟥 ALERTS:
Default Option: (Per Bar)
Alerts Once Conditions Are Met
(Bar Close) Alerts When Bar Closes
Default Option: (Reg)
Alerts During Regular Market
Trading Hours, (0930-1600)
(Ext) Alerts During Extended
Market Hours, (1600-0930)
(24/7) Alerts All Day
Optional Preferences:
Regular Alerts - Stocks
Extended Alerts - Futures
24/7 Alerts - Crypto
🟧 RANGES:
Default Value: (1)
Incremental Range Value, Increasing Value
Swaps Sessions With the Next Two Ranges
(✓) Swap Ranges?
Pre/Post Market High/Lows,
1-2 Day High/Lows, 1-2 Week High/Lows,
1-2 Month High/Lows, 1-2 Year High/Lows
( ) Swap Ranges?
Pre/Post Market Open/Close,
1-2 Day Open/Close, 1-2 Week Open/Close,
1-2 Month Open/Close, 1-2 Year Open/Close
🟨 EXAMPLES:
Default Range:
🟢 | 📗 Pre Market High (PRE) | 4600.00
🔴 | 📕 Post Market Low (POST) | 420.00
Optional: (Open)
🟢 | 📔 Post Market Open (POST) | 4400.00
Optional: (Close)
🔴 | 📓 Pre Market Close (PRE) | 430.00
Default Range Value: (1)
🔴 | 📗 1 Day High (1DH) | 460.00
Next Range Value: (3)
🟢 | 📕 4 Day Low (4DL) | 420.00
Optional: (Open)
🔴 | 📔 2 Day Open (2DO) | 440.00
Optional: (Close)
🟢 | 📓 3 Day Close (3DC) | 430.00
Default Range Value: (5)
🟢 | 📗 5 Week High (5WH) | 460.00
Next Range Value: (7)
🔴 | 📕 8 Week Low (8WL) | 420.00
Optional: (Open)
🔴 | 📔 7 Week Open (7WO) | 4400.00
Optional: (Close)
🟢 | 📓 6 Week Close (6WC) | 430.00
Default Range Value: (9)
🔴 | 📗 9 Month High (9MH) | 460.00
Next Range Value: (11)
🟢 | 📕 12 Month Low (12ML) | 420.00
Optional: (Open)
🟢 | 📔 11 Month Open (11MO) | 4400.00
Optional: (Close)
🔴 | 📓 10 Month Close (10MC) | 430.00
Default Range Value: (13)
🟢 | 📗 13 Year High (13YH) | 460.00
Next Range Value: (15)
🟢 | 📕 16 Year Low (16YL) | 420.00
Optional: (Open)
🔴 | 📔 15 Year Open (15YO) | 4400.00
Optional: (Close)
🔴 | 📓 14 Year Close (14YC) | 430.00
🟩 COLORS:
(✓) Swap Colors?
Text Color Is Shown Using
Background Color
( ) Swap Colors?
Background Color Is Shown
Using Text Color
🟦 IDEAS:
(✓) Show Ideas?
Plots Four Ideas With Custom Lines
and Labels; Ideas Are Based Around
Post-It Note Reminders with Alerts
Suggestions For Text Ideas:
Take Profit, Stop Loss, Trim, Hold,
Long, Short, Bounce Spot, Retest,
Chop, Support, Resistance, Buy, Sell
🟪 EXAMPLES:
Default Value: (5)
Shows the Custom Value For
Lines, Labels, and Alerts
Default Text: (🥇)
Shown On First Label and
Message Appearing On Alerts
Alert Shows: 🟢 | 🥇 | 5.00
Default Value: (10)
Shows the Custom Value For
Lines, Labels, and Alerts
Default Text: (🥈)
Shown On Second Label and
Message Appearing On Alerts
Alert Shows: 🔴 | 🥈 | 10.00
Default Value: (50)
Shows the Custom Value For
Lines, Labels, and Alerts
Default Text: (🥉)
Shown On Third Label and
Message Appearing On Alerts
Alert Shows: 🟢 | 🥉 | 50.00
Default Value: (100)
Shows the Custom Value For
Lines, Labels, and Alerts
Default Text: (🎖️)
Shown On Fourth Label and
Message Appearing On Alerts
Alert Shows: 🔴 | 🎖️ | 100.00
⬛️ REFERENCES:
Pre-market Highs & Lows on regular
trading hours (RTH) chart
By Twingall
Previous Day Week Highs & Lows
By Sbtnc
Screener for 40+ instruments
By QuantNomad
Daily Weekly Monthly Yearly Opens
By Meliksah55
Z-Score Based Momentum Zones with Advanced Volatility ChannelsThe indicator "Z-Score Based Momentum Zones with Advanced Volatility Channels" combines various technical analysis components, including volatility, price changes, and volume correction, to calculate Z-Scores and determine momentum zones and provide a visual representation of price movements and volatility based on multi timeframe highest high and lowest low values.
Note: THIS IS A IMPROVEMNT OF "Multi Time Frame Composite Bands" INDICATOR OF MINE WITH MORE EMPHASIS ON MOMENTUM ZONES CALULATED BASED ON Z-SCORES
Input Options
look_back_length: This input specifies the look-back period for calculating intraday volatility. correction It is set to a default value of 5.
lookback_period: This input sets the look-back period for calculating relative price change. The default value is 5.
zscore_period: This input determines the look-back period for calculating the Z-Score. The default value is 500.
avgZscore_length: This input defines the length of the momentum block used in calculations, with a default value of 14.
include_vc: This is a boolean input that, if set to true, enables volume correction in the calculations. By default, it is set to false.
1. Volatility Bands (Composite High and Low):
Composite High and Low: These are calculated by combining different moving averages of the high prices (high) and low prices (low). Specifically:
a_high and a_low are calculated as the average of the highest (ta.highest) and lowest (ta.lowest) high and low prices over various look-back periods (5, 8, 13, 21, 34) to capture short and long-term trends.
b_high and b_low are calculated as the simple moving average (SMA) of the high and low prices over different look-back periods (5, 8, 13) to smooth out the trends.
high_c and low_c are obtained by averaging a_high with b_high and a_low with b_low respectively.
IDV Correction Calulation : In this script the Intraday Volatility (IDV) is calculated as the simple moving average (SMA) of the daily high-low price range divided by the closing price. This measures how much the price fluctuates in a given period.
Composite High and Low with Volatility: The final c_high and c_low values are obtained by adjusting high_c and low_c with the calculated intraday volatility (IDV). These values are used to create the "Composite High" and "Composite Low" plots.
Composite High and Low with Volatility Correction: The final c_high and c_low values are obtained by adjusting high_c and low_c with the calculated intraday volatility (IDV). These values are used to create the "Composite High" and "Composite Low" plots.
2. Momentum Blocks Based on Z-Score:
Relative Price Change (RPC):
The Relative Price Change (rpdev) is calculated as the difference between the current high-low-close average (hlc3) and the previous simple moving average (psma_hlc3) of the same quantity. This measures the change in price over time.
Additionally, std_hlc3 is calculated as the standard deviation of the hlc3 values over a specified look-back period. The standard deviation quantifies the dispersion or volatility in the price data.
The rpdev is then divided by the std_hlc3 to normalize the price change by the volatility. This normalization ensures that the price change is expressed in terms of standard deviations, which is a common practice in quantitative analysis.
Essentially, the rpdev represents how many standard deviations the current price is away from the previous moving average.
Volume Correction (VC): If the include_vc input is set to true, volume correction is applied by dividing the trading volume by the previous simple moving average of the volume (psma_volume). This accounts for changes in trading activity.
Volume Corrected Relative Price Change (VCRPD): The vcrpd is calculated by multiplying the rpdev by the volume correction factor (vc). This incorporates both price changes and volume data.
Z-Scores: The Z-scores are calculated by taking the difference between the vcrpd and the mean (mean_vcrpd) and then dividing it by the standard deviation (stddev_vcrpd). Z-scores measure how many standard deviations a value is away from the mean. They help identify whether a value is unusually high or low compared to its historical distribution.
Momentum Blocks: The "Momentum Blocks" are essentially derived from the Z-scores (avgZScore). The script assigns different colors to the "Fill Area" based on predefined Z-score ranges. These colored areas represent different momentum zones:
Positive Z-scores indicate bullish momentum, and different shades of green are used to fill the area.
Negative Z-scores indicate bearish momentum, and different shades of red are used.
Z-scores near zero (between -0.25 and 0.25) suggest neutrality, and a yellow color is used.
