CofeeShopCrypto CoffeeBreak RSI**This Indicator DOES NOT REPAINT**
For me the RSI who's been a very powerful tool but one of the things that's been missing from it time and time again is the ability to show true dynamic support and resistance that is generated by the movements of the RSI.
This version of the Relative Strength Index is designed to visualize and mark Support and Resistance conditions on the Relative Strength Index (RSI) itself, and leaving behind those known dynamic support and resistance (S/R) zones.
It also has the ability during live marks to show you whether the majority of momentum is to the bullish or bearish side and if there is a conflict between the current momentum and the support or resistance zone that you are inside of. In short it will create the zones during live market.
This means you don't have to wait to only look at previous values you can also make an assessment during live breakouts on current support and resistance levels as well as using previous support and resistance levels as markers for any limits in movement.
Inputs Tab:
Show Dynamic Zone Creator - Gives you a live action SR Generator on your chart at your current bars which extends a bit into the future for a better visual sense of activity.
The color of this area can be set manually or you can let the script color this area automatically.
This Generator helps to plot Support and Resistance Zones on your chart.
If no zone is triggered then it will move on.
If a zone is triggered, it will change to the appropriate color and leave the zone behind as the new candles form.
Show Dynamic Zone Mid Level - This is just a midline of the Zone Creator to get an earlier visualization of what's happening inside the zone when it is very large.
I use this midline as a breakpoint when price and RSI values come back to this level and both break it. If only ONE breaks the level, I do not take it as a confirmation.
Extend RSI support and resistance boxes into the future - this is strictly up to the user which value you set. It will simply extend the zones that were left behind into the future as many bars as you choose. Depending on the chart or asset that you trade and how much volatility there is at the time you should be able to determine a good length for these boxes.
How many bars reflect the dynamic S/R zone - raising this value can overlap more zones using more bars going backwards. This can intensify the color of the current zone being created. The lowest value you should use is 2. But the higher you make this value you will also be able to see previous zones created with more intensity. Raising this value above the RSI value can give you a very nice previous depletion of color on previous zones where you'll be able to watch them fade away and it will intensify the current ones being created.
Only show this many previous support and resistance zones - this is a way to limit the number of zones that are being left behind on your chart which could possibly slow down the activity of calculations and how your chart moves with more indicators on it. Technically you can show 400 to 500 previous zones on your chart but you don't really need to see that many in the past so set this to something that is relative to how far in history you need to reference SR levels.
------------- Lets talk about how to take trades and see false breakouts. -------------
Support Created, Not broken, False Breakout
In the image below you can see how the Dynamic Zone Generator left behind a Support Level however the RSI was unable to break above it.
This creates a price swing on the chart.
The RSI later comes back to this level, however while price breaks this level, the RSI does not.
This confirms that it is a false breakout.
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Now lets take a look at what a confirmed breakout is for a short along with a Continuation of short move. This is quickly followed by a divergence.
In the image below you can see how the RSI was in its ranging area and broke below that range. In this case it would be be below -10. During this time it never created a support level or resistance level underneath it implicating that it has continuous movement.
You can see later that when it broke back inside of the range did not go long instead there was a red resistance area created below the RSI. The RSI then again broke below -10 and it broke through this resistance area below it indicating another quick short entry. This is the setup for a quick continuation. Be careful of these setups as they are usually followed quickly by a divergence.
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The Dynamic Zone Creator takes its time to calculate. It cant predict the future so you'll have to just let it do its thing. Once the candles close and they confirm, you'll have the color, and zone size you need.
The Dynamic Zone Creator works against your currently OPEN candles.
It will give you a high and a low area of a zone which you can use in later points of the oscillator to determine if you have valid breakouts and or bounces of price and momentum.
When set to automatic coloring, its zone background and midline will automatically change their colors to match the momentum of the RSI and price.
If there is no support or resistance found, the Zone Creator will simply move onto the next candles in play.
If there IS support or resistance found, the Zone Creator will leave behind a phantom zone or Support or Resistance.
Keep in mind these zones left behind will turn into opposing Support or Resistance depending on if price and momentum break these areas simultaneously.
----------------------------Reason for closed source----------------------------
This indicator will be updated in the future to also produce trendlines, signals, and incorporate different methods of validate pivots and volume by calculations I have created of my own.
To avoid publishing this script more than once and give you all a direct access, without having to find a secondary or tertiary publication with the addons code is protected and will be updated here.
I have put several days into this particular script and will continue over the next few weeks to add in complimentary coding as this version of the script is really just stage one.
支撑和阻力
Fair Value Gaps (Volumetric) | Flux Charts💎 GENERAL OVERVIEW
Introducing a brand new Fair Value Gaps (FVG) indicator, now with Volumetric Zones! You can now see the total volume of FVG zones, as well as their bullish & bearish volume ratio.
Features of the Volumetric FVG Indicator :
Render Bullish / Bearish FVG Zones
See Total Volume Of The FVG Zones
See The Ratio Of Bullish / Bearish Bar Volume Of FVG Zones
Combination Of Overlapping FVG Zones
Variety Of Zone Detection/ Sensitivity / Filtering / Invalidation Settings
High Customizability
🚩UNIQUENESS
The ability to render the total volume of FVGs as well as bullish / bearish volume ratio is what sets this FVG indicator apart from others. Also the ability to combine overlapping FVG zones will result in cleaner charts for traders.
⚙️SETTINGS
1. General Configuration
Zone Invalidation -> Select between Wick & Close price for FVG Zone Invalidation.
Zone Filtering -> With "Average Range" selected, algorithm will find FVG zones in comparison with average range of last bars in the chart. With the "Volume Threshold" option, you may select a Volume Threshold % to spot FVGs with a larger total volume than average.
FVG Detection -> With the "Same Type" option, all 3 bars that formed the FVG should be the same type. (Bullish / Bearish). If the "All" option is selected, bar types may vary between Bullish / Bearish.
Detection Sensitivity -> You may select between Low, Normal or High FVG detection sensitivity. This will essentially determine the size of the spotted FVGs, with lower sensitivities resulting in spotting bigger FVGs, and higher sensitivities resulting in spotting all sizes of FVGs.
Show Historic Zones -> If this option is on, the indicator will render invalidated FVG zones as well as current FVG zones. For a cleaner look at current FVG zones which are not invalidated yet, you can turn this option off.
True SMCThe True SMC Indicator is specifically designed for structure mapping and the identification of high-probability Order Blocks. Excelling in distinctly recognising four types of Order Blocks, it provides traders with a direct and efficient method to dissect market movements and identify strategic entry points with precision
🔶 Understanding Structure Mapping
This indicator introduces a unique approach to analysing market structure, focusing on liquidity, which is termed 'Inducement'. Inducement is crucial for identifying key structural markers in the market, such as Higher Highs (HH), Higher Lows (HL), Lower Lows (LL), and Lower Highs (LH).
Inducement acts like a trap set near a supply or demand zone. It entices impatient buyers or sellers into the market before the actual zone is reached, thereby creating liquidity. For an inducement to be considered valid, it must represent a valid pullback.
A valid scenario occurs when the price sweeps or closes beyond the high or low of the previous candle; in this case, the candle's color, whether bullish or bearish, is not relevant, and both scenarios are considered valid. Inside bars are ignored as they do not meet this criterion. The indicator assists in this process by automatically highlighting valid pullbacks with a distinctive gray round label.
This feature is not just a visual aid but also a crucial tool in effortlessly understanding market movements, providing a clear visual representation of ongoing market trends.
🔶 Understanding How Order Block is working
Our indicator incorporates four distinct types of Order Blocks, each designed for specific roles in market analysis. Among these, the **OB-IDM** and **OB-EXT** are regarded as high-probability Order Blocks, and our primary focus is on these two for market entry.
IDM Order Block (OB-IDM): IDM Order block (OB-IDM) is basically the first Order Block that shows up after the IDM level is passed. Think of it as the closest OB you find below the current IDM.
Extreme Order Block (OB-EXT): OB-EXT is the first and lowest Order Block that you'll find between a Major Low and a Major High.
Single Candle Order Block (SCOB): Single candle mitigation is very Powerful way to add multiple entries in you're winning trades.
Smart Money Trap (SMT): The SMT consists of all the Order Blocks that lie between the Extreme and OB-IDM. It acts as a cautionary signal, indicating potential traps for Smart Money Concept traders. It is essential to recognize that the SMT does not provide additional confirmation for trading. Instead, it highlights areas where traders should exercise extra caution. Trading decisions should be based on clear confirmations, such as inducements or liquidity sweeps, rather than solely on the SMT.
🔶 How to Use the True SMC Indicator:
The True SMC Indicator is designed to enhance your trading strategy by identifying key order blocks and market signals. Below is a guide on how to utilize the various elements of the True SMC Indicator:
OB IDM (Order Block Inducement):
Usage : This is a decisional order block crucial for identifying trade entries. It is particularly effective for pinpointing potential reversal zones.
Alerts: Setting up alerts on OB IDM is recommended to be notified when the price reaches this critical area, thus facilitating prompt and informed trading decisions.
OB-EXT (Extreme Order Block):
Usage : OB-EXT serves as an extreme and high-probability order block for trade entries, ideal for identifying strategic entry points at potential reversal points.
Alerts: Activating alerts on OB-EXT will keep you informed about price approaches, aiding in the preparation of your trade setups.
SCOB (Single Candle Order Block):
Usage : SCOB is ideal for scaling into a position. It should be employed for adding to positions when the market reacts to OB IDM or OB-EXT, indicating a potential reversal.
SMT (Smart Money Trap):
Usage Caution: The SMT should be approached with caution as it represents a potential trap. It is advised to avoid trading directly at SMT zones. Instead, use these zones to gauge market sentiment and make informed decisions.
This structured approach to using the True SMC Indicator will help you in making more precise and strategic trading decisions, enhancing your overall market analysis.
🔶 Example of usage:
Market Structure Diagram
This diagram illustrates the key structural markers in the market such as Higher Highs (HH), Higher Lows (HL), Lower Lows (LL), and Lower Highs (LH). It provides a visual guide to understanding the underlying market structure.
Example from a Real Chart: This chart is a prime example of how our indicator is used to dissect and highlight market structure in a live trading environment. It vividly demonstrates the 'Inducement' concept in action, pinpointing key structural points like HH, HL, LL, and LH in real-time market trends.
Valid Pullback
Illustration of a Valid Pullback: This image showcases a typical scenario where the price sweeps beyond the previous candle's high or low, marking a valid pullback. Notice the distinctive gray round label indicating the point of inducement.
IDM Order Block (OB-IDM)
This diagram illustrates the IDM Order Block (OB-IDM), highlighting its position as the first OB following the IDM level. It represents the nearest OB below the current IDM level.
IDM Order Block in Action This real chart example showcases the OB-IDM in a live market scenario, demonstrating how it appears and functions in practical trading.
Extreme Order Block (OB-EXT)
The diagram depicts the OB-EXT, which is identified as the first and lowest Order Block between a Major Low and a Major High.
OB-EXT in Real Market: This chart example highlights the OB-EXT, showing its position and significance in market analysis between major market points.
Single Candle Order Block (SCOB)
The accompanying chart demonstrates the SCOB in a live trading environment, illustrating its effectiveness in trade optimization.
Smart Money Trap (SMT)
This real chart provides insight into how the SMT is used in actual trading, marking areas for increased caution and illustrating its role in a comprehensive trading strategy.
🔶 Additional Features
Easy-to-Follow Trend Display : The script employs a Color Coded candle system, simplifying trend recognition.
Any Alert function call = It can be configured for a range of trading events, allowing you to stay informed about key market movements. In the settings, you can choose to enable or disable alerts for events such as BOS Sweep, CHock, CHock Sweep, IDM, IDM Sweep, OB IDM, OB EXT, and PDH/PDL.
Automatic resolving of ChoCh-IDM and IDM-BoS conflicts = The indicator is equipped to automatically resolve conflicts that arise between ChoCh-IDM and IDM-BoS. It intelligently identifies situations where there might be an IDM instead of a ChoCh, or a BoS instead of an IDM, ensuring accurate readings and analysis.
Anywhere Structure Mapping : The tool simplifies market analysis by enabling you to draw structures from any chosen moment. Simply adjust the slider to your desired point and instantly trade based on the internal structure revealed. This feature offers an intuitive and efficient way to understand and navigate market dynamics.
🔶 Conclusion
The True SMC Indicator distinguishes itself from other market analysis tools through its specialised focus on structure mapping and high-probability Order Blocks. Unlike generic indicators, it expertly identifies and categorizes four distinct types of Order Blocks, including IDM and Extreme Order Blocks, which are crucial for high-accuracy trade entries. Its unique approach in analysing market structure centers on 'Inducement,' a key concept for pinpointing vital market structural markers. This feature, combined with its ability to alert traders to both promising entry points and potential Smart Money Traps, equips users with a comprehensive tool for a nuanced understanding of market dynamics and strategic trade execution. Such targeted capabilities make the True SMC Indicator an invaluable asset for traders seeking precision and efficiency in their market analysis.
Re-Anchoring Fibo LevelsThe " Re-Anchoring Fibo Levels " offers a dynamic and systematic approach on how to use Fibonacci retracements. The resistance levels are based on the all-time high and the subsequent lowest low. The support levels are based on the lowest low after the all-time high and the following highest high. This method provides traders with automatically updated support and resistance levels based on current significant pivot points.
How It Works
Resistance Levels: The levels are calculated based on the current all-time high and the following lowest low. This range is multiplied with the defined Fibonacci ratios and the levels are plotted.
Support Levels: The support levels are calculated based on the lowest low and highest high after and below the current all-time high. The range between those to pivot points is multiplied with the defined Fibonacci ratios and the levels are plotted.
How To Use
By comparing current prices to dynamically adjusted Fibonacci levels, traders can gain insights into the strength and potential direction of market trends and are also presented with potentially significant levels that can function either as resistance or support.
Support and Resistance (MTF) | Flux Charts💎 GENERAL OVERVIEW
Introducing a groundbreaking support and resistance indicator designed to revolutionize your trading experience on TradingView! This innovative tool operates across three distinct timeframes, offering a comprehensive view of market dynamics to help you make informed trading decisions.
The indicator offers a large variety of features :
Select Up To 3 Timeframes
Select Strength Of Supports & Resistances
Select Between Zones & Lines
Show Breaks & Restests
Break & Retest Alerts
Avoid False Breaks
Inverse Color After Broken
Expand Lines & Zones
🚩UNIQUENESS
What sets this indicator apart is its ability to seamlessly integrate and analyze support and resistance levels across multiple timeframes simultaneously. By combining data from three different timeframes, this indicator provides a holistic perspective on market trends and key levels. The adaptive nature of this tool ensures a dynamic assessment of support and resistance zones, empowering traders to adapt to changing market conditions efficiently.
⚙️SETTINGS
1. General Configration
Support & Resistance Count -> Select between 1-3 support & resistance zones for each timeframe.
Pivot Range -> The pivot range is taken into calculations when finding high & low pivots in the chart. Increase if you need a more general look at the support & support zones, or decrease if you need a more detailed look.
Strength -> The strength of the support & resistance zones are determined by how many times the price touched the zone in the past. You can increase the strength up to 4.
Expand Lines & Zones -> If enabled, the support & resistance zones will be expanded to both left and right infinitely. If disabled, the support & resistance zones will be clamped between the time they are first seen, and the time they become broken.
2. Support & Resistance Zones
Enable Zones -> The support & resitsance lines will be converted to zones if enabled.
Zone Width -> The width of the zones. 1 -> %0.05, 2 -> %0.06, 3 -> %0.075.
3. Timeframes
Enable & Disable up to 3 different timeframes using the checkboxes. You can set the timeframes using the selectboxes.
4. Breaks & Retests
Show Breaks -> Points the break points with a blue label with the text "B" on it.
Show Retests -> Points the times when the support & resistance zones are being retested in the current chart.
Avoid False Breaks -> If enabled, the algorithm will try to avoid false break points by comparing the average volume of the point to a longer average volume.
Break Volume Threshold % -> If "Avoid False Breaks" option is enabled, the average volume of the break point should surpass the general average volume by this percent. Higher values mean it's less likely to be a break.
Inverse Color After Broken -> As broken support & resistance zones often become resistance & support zones respectively, if you enable this option the broken zones will inverse their color.
5. Alerts
To make the alerts work, you'll need to add an alert to the chart using the TradingView® alert feature.
Enable Retest Alerts -> You will receive alerts when restests happen on any of the support & resistance zones. "Show Retests" option needs to be enabled to get alerts of this category.
Enable Break Alerts -> You will receive alerts when breaks happen on any of the support & resistance zones.
CT - Candle TrendHighlight candle tails in a trend in order to find previous area of resistance or support.
Recommended for D, W or higher timeframes.
Machine Learning: STDEV Oscillator [YinYangAlgorithms]This Indicator aims to fill a gap within traditional Standard Deviation Analysis. Rather than its usual applications, this Indicator focuses on applying Standard Deviation within an Oscillator and likewise applying a Machine Learning approach to it. By doing so, we may hope to achieve an Adaptive Oscillator which can help display when the price is deviating from its standard movement. This Indicator may help display both when the price is Overbought or Underbought, and likewise, where the price may face Support and Resistance. The reason for this is that rather than simply plotting a Machine Learning Standard Deviation (STDEV), we instead create a High and a Low variant of STDEV, and then use its Highest and Lowest values calculated within another Deviation to create Deviation Zones. These zones may help to display these Support and Resistance locations; and likewise may help to show if the price is Overbought or Oversold based on its placement within these zones. This Oscillator may also help display Momentum when the High and/or Low STDEV crosses the midline (0). Lastly, this Oscillator may also be useful for seeing the spacing between the High and Low of the STDEV; large spacing may represent volatility within the STDEV which may be helpful for seeing when there is Momentum in the form of volatility.
Tutorial:
Above is an example of how this Indicator looks on BTC/USDT 1 Day. As you may see, when the price has parabolic movement, so does the STDEV. This is due to this price movement deviating from the mean of the data. Therefore when these parabolic movements occur, we create the Deviation Zones accordingly, in hopes that it may help to project future Support and Resistance locations as well as helping to display when the price is Overbought and Oversold.
If we zoom in a little bit, you may notice that the Support Zone (Blue) is smaller than the Resistance Zone (Orange). This is simply because during the last Bull Market there was more parabolic price deviation than there was during the Bear Market. You may see this if you refer to their values; the Resistance Zone goes to ~18k whereas the Support Zone is ~10.5k. This is completely normal and the way it is supposed to work. Due to the nature of how STDEV works, this Oscillator doesn’t use a 1:1 ratio and instead can develop and expand as exponential price action occurs.
The Neutral (0) line may also act as a Support and Resistance location. In the example above we can see how when the STDEV is below it, it acts as Resistance; and when it’s above it, it acts as Support.
This Neutral line may also provide us with insight as towards the momentum within the market and when it has shifted. When the STDEV is below the Neutral line, the market may be considered Bearish. When the STDEV is above the Neutral line, the market may be considered Bullish.
The Red Line represents the STDEV’s High and the Green Line represents the STDEV’s Low. When the STDEV’s High and Low get tight and close together, this may represent there is currently Low Volatility in the market. Low Volatility may cause consolidation to occur, however it also leaves room for expansion.
However, when the STDEV’s High and Low are quite spaced apart, this may represent High levels of Volatility in the market. This may mean the market is more prone to parabolic movements and expansion.
We will conclude our Tutorial here. Hopefully this has given you some insight into how applying Machine Learning to a High and Low STDEV then creating Deviation Zones based on it may help project when the Momentum of the Market is Bullish or Bearish; likewise when the price is Overbought or Oversold; and lastly where the price may face Support and Resistance in the form of STDEV.
If you have any questions, comments, ideas or concerns please don't hesitate to contact us.
HAPPY TRADING!
Automatic Trend Lines & S/R Zones Pro [Quantigenics]The “Automatic Trend Lines & S/R Zones Pro ” script is an innovative tool that integrates automated support and resistance zone identification with trend line generation. This script is an invaluable asset in technical analysis, adeptly identifying critical price reversal or breakout areas and drawing trend lines to gauge market direction and momentum. It generates trading signals based on support/resistance and trend line dynamics, making it a versatile standalone or complementary tool suitable for any market or time frame.
The "Automatic Trend Lines & S/R Zones Pro " script performs advanced financial chart analysis by algorithmically identifying support/resistance zones and generating trend lines It analyzes historical data, applying calculations like the highest and lowest price points over specified periods (defined by 'PeakOverBar' and 'LowOverBar' settings) to determine potential support and resistance zones. Trend lines are drawn by connecting significant price peaks and troughs, calculated based on user-defined strength parameters. The script also produces trading signals by analyzing price interactions with these zones and trend lines, using algorithms to detect breakouts or rejections, thus aiding traders in informed decision-making.
Technical Composition: a
Support and Resistance Zone Detection : Mechanism: Utilizes historical price data to identify key levels indicative of intense trading activity, revealing potential price stalling or reversals. These levels are marked based on past market actions and supply-demand dynamics.
Visualization: Zones are highlighted with colored boxes, enabling traders to easily spot shifts in market sentiment.
Automatic Trend Line Generation : Methodology: Connects significant price highs and lows over a designated period, customizable through inputs like PeakOverBar and LowOverBar.
Utility : These trend lines act as crucial indicators of uptrend support and downtrend resistance, aiding in the recognition of potential breakout or reversal zones and trend directions.
Customization and Flexibility : Adjustable Parameters: Includes customization options for peak/trough identification periods, trend line visibility, and extent of support/resistance zones.
Enhanced User Experience : Designed to be intuitive and adaptable, catering to diverse trading styles and strategies.
Usage in Trading :
Entry and Exit Points: The trade signals plotted at the support/resistance zones can be used for identifying both entry and exit points, in anticipation of price stalling and potentially reversing, and breakout signals plotted as price breaks trendlines can be used for breakout trading strategies, as well as stop loss areas.
Signal Alerts: Real-time alerts for significant interactions with trend lines or S/R zones, vital for both entry and exit strategies.
Integration with Other Systems: While effective as a standalone tool, it can also be used alongside other indicators for a more robust trading method.
Input Parameter Settings :
Intra-Bar Signal Generation (IntraBar) : Allows toggling between immediate signal generation within the current bar or after bar closure.
Peak and Low Over Bar (PeakOverBar, LowOverBar) : Sets the bar count for identifying market peaks and lows, adjustable for analyzing different market trends.
Strongest Peaks and Lows Period (StrongestFromPeaks, StrongestFromLows) : Determines the period for identifying significant market peaks and lows.
Show S/R Zones (ShowSRZones) : Enables the display of Support/Resistance zones for better market insight.
Trend Line Type (TrendLineType) : Offers options for trend line styles, like "One Line" or "Triple Lines."
Extend Trend Lines (ExtendTrendLines) : Configures the extension length of trend lines, useful for predicting future trends.
Peak and Low Trend Line Settings (ShowPeakTrendLine, ShowLowTrendLine, etc.) : Manage the display and characteristics of specific trend lines.
Signal Settings (ShowLabels, ShowBreakSignals, ShowPopUPSignals, etc.) : Customizes the appearance and frequency of signals and alerts.
Alert Settings (ShowTrendBreakSignals, ShowTrendPopSignals, etc.) : Configures alerts for significant market events like trend line breaks or rejections.
The "Automatic Trend Lines & S/R Zones Pro" script stands out as an essential tool for traders, offering comprehensive support/resistance and trend line analysis in a single package. Its automatic features, combined with customizable options, make it a key element in elevating market analysis and informed trading decision-making.
As always, remember that trading involves risks and past performance is not indicative of future results.
You can see the “Author’s instructions below to get immediate access to Automatic Trend Lines & S/R Zones Pro & the rest of the “Quantigenics Premium Indicator Suite”.
Adaptive MFT Extremum Pivots [Elysian_Mind]Adaptive MFT Extremum Pivots
Overview:
The Adaptive MFT Extremum Pivots indicator, developed by Elysian_Mind, is a powerful Pine Script tool that dynamically displays key market levels, including Monthly Highs/Lows, Weekly Extremums, Pivot Points, and dynamic Resistances/Supports. The term "dynamic" emphasizes the adaptive nature of the calculated levels, ensuring they reflect real-time market conditions. I thank Zandalin for the excellent table design.
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Chart Explanation:
The table, a visual output of the script, is conveniently positioned in the bottom right corner of the screen, showcasing the indicator's dynamic results. The configuration block, elucidated in the documentation, empowers users to customize the display position. The default placement is at the bottom right, exemplified in the accompanying chart.
The deliberate design ensures that the table does not obscure the candlesticks, with traders commonly situating it outside the candle area. However, the flexibility exists to overlay the table onto the candles. Thanks to transparent cells, the underlying chart remains visible even with the table displayed atop.
In the initial column of the table, users will find labels for the monthly high and low, accompanied by their respective numerical values. The default precision for these values is set at #.###, yet this can be adjusted within the configuration block to suit markets with varying degrees of volatility.
Mirroring this layout, the last column of the table presents the weekly high and low data. This arrangement is part of the upper half of the table. Transitioning to the lower half, users encounter the resistance levels in the first column and the support levels in the last column.
At the center of the table, prominently displayed, is the monthly pivot point. For a comprehensive understanding of the calculations governing these values, users can refer to the documentation. Importantly, users retain the freedom to modify these mathematical calculations, with the table seamlessly updating to reflect any adjustments made.
Noteworthy is the table's persistence; it continues to display reliably even if users choose to customize the mathematical calculations, providing a consistent and adaptable tool for informed decision-making in trading.
This detailed breakdown offers traders a clear guide to interpreting the information presented by the table, ensuring optimal use and understanding of the Adaptive MFT Extremum Pivots indicator.
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Usage:
Table Layout:
The table is a crucial component of this indicator, providing a structured representation of various market levels. Color-coded cells enhance readability, with blue indicating key levels and a semi-transparent background to maintain chart visibility.
1. Utilizing a Table for Enhanced Visibility:
In presenting this wealth of information, the indicator employs a table format beneath the chart. The use of a table is deliberate and offers several advantages:
2. Structured Organization:
The table organizes the diverse data into a structured format, enhancing clarity and making it easier for traders to locate specific information.
3. Concise Presentation:
A table allows for the concise presentation of multiple data points without cluttering the main chart. Traders can quickly reference key levels without distraction.
4. Dynamic Visibility:
As the market dynamically evolves, the table seamlessly updates in real-time, ensuring that the most relevant information is readily visible without obstructing the candlestick chart.
5. Color Coding for Readability:
Color-coded cells in the table not only add visual appeal but also serve a functional purpose by improving readability. Key levels are easily distinguishable, contributing to efficient analysis.
Data Values:
Numerical values for each level are displayed in their respective cells, with precision defined by the iPrecision configuration parameter.
Configuration:
// User configuration: You can modify this part without code understanding
// Table location configuration
// Position: Table
const string iPosition = position.bottom_right
// Width: Table borders
const int iBorderWidth = 1
// Color configuration
// Color: Borders
const color iBorderColor = color.new(color.white, 75)
// Color: Table background
const color iTableColor = color.new(#2B2A29, 25)
// Color: Title cell background
const color iTitleCellColor = color.new(#171F54, 0)
// Color: Characters
const color iCharColor = color.white
// Color: Data cell background
const color iDataCellColor = color.new(#25456E, 0)
// Precision: Numerical data
const int iPrecision = 3
// End of configuration
The code includes a configuration block where users can customize the following parameters:
Precision of Numerical Table Data (iPrecision):
// Precision: Numerical data
const int iPrecision = 3
This parameter (iPrecision) sets the precision of the numerical values displayed in the table. The default value is 3, displaying numbers in #.### format.
Position of the Table (iPosition):
// Position: Table
const string iPosition = position.bottom_right
This parameter (iPosition) sets the position of the table on the chart. The default is position.bottom_right.
Color preferences
Table borders (iBorderColor):
// Color: Borders
const color iBorderColor = color.new(color.white, 75)
This parameters (iBorderColor) sets the color of the borders everywhere within the window.
Table Background (iTableColor):
// Color: Table background
const color iTableColor = color.new(#2B2A29, 25)
This is the background color of the table. If you've got cells without custom background color, this color will be their background.
Title Cell Background (iTitleCellColor):
// Color: Title cell background
const color iTitleCellColor = color.new(#171F54, 0)
This is the background color the title cells. You can set the background of data cells and text color elsewhere.
Text (iCharColor):
// Color: Characters
const color iCharColor = color.white
This is the color of the text - titles and data - within the table window. If you change any of the background colors, you might want to change this parameter to ensure visibility.
Data Cell Background: (iDataCellColor):
// Color: Data cell background
const color iDataCellColor = color.new(#25456E, 0)
The data cells have a background color to differ from title cells. You can configure this is a different parameter (iDataColor). You might even set the same color for data as for the titles if you will.
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Mathematical Background:
Monthly and Weekly Extremums:
The indicator calculates the High (H) and Low (L) of the previous month and week, ensuring accurate representation of these key levels.
Standard Monthly Pivot Point:
The standard pivot point is determined based on the previous month's data using the formula:
PivotPoint = (PrevMonthHigh + PrevMonthLow + Close ) / 3
Monthly Pivot Points (R1, R2, R3, S1, S2, S3):
Additional pivot points are calculated for Resistances (R) and Supports (S) using the monthly data:
R1 = 2 * PivotPoint - PrevMonthLow
S1 = 2 * PivotPoint - PrevMonthHigh
R2 = PivotPoint + (PrevMonthHigh - PrevMonthLow)
S2 = PivotPoint - (PrevMonthHigh - PrevMonthLow)
R3 = PrevMonthHigh + 2 * (PivotPoint - PrevMonthLow)
S3 = PrevMonthLow - 2 * (PrevMonthHigh - PivotPoint)
---
Code Explanation and Interpretation:
The table displayed beneath the chart provides the following information:
Monthly Extremums:
(H) High of the previous month
(L) Low of the previous month
// Function to get the high and low of the previous month
getPrevMonthHighLow() =>
var float prevMonthHigh = na
var float prevMonthLow = na
monthChanged = month(time) != month(time )
if (monthChanged)
prevMonthHigh := high
prevMonthLow := low
Weekly Extremums:
(H) High of the previous week
(L) Low of the previous week
// Function to get the high and low of the previous week
getPrevWeekHighLow() =>
var float prevWeekHigh = na
var float prevWeekLow = na
weekChanged = weekofyear(time) != weekofyear(time )
if (weekChanged)
prevWeekHigh := high
prevWeekLow := low
Monthly Pivots:
Pivot: Standard pivot point based on the previous month's data
// Function to calculate the standard pivot point based on the previous month's data
getStandardPivotPoint() =>
= getPrevMonthHighLow()
pivotPoint = (prevMonthHigh + prevMonthLow + close ) / 3
Resistances:
R3, R2, R1: Monthly resistance levels
// Function to calculate additional pivot points based on the monthly data
getMonthlyPivotPoints() =>
= getPrevMonthHighLow()
pivotPoint = (prevMonthHigh + prevMonthLow + close ) / 3
r1 = (2 * pivotPoint) - prevMonthLow
s1 = (2 * pivotPoint) - prevMonthHigh
r2 = pivotPoint + (prevMonthHigh - prevMonthLow)
s2 = pivotPoint - (prevMonthHigh - prevMonthLow)
r3 = prevMonthHigh + 2 * (pivotPoint - prevMonthLow)
s3 = prevMonthLow - 2 * (prevMonthHigh - pivotPoint)
Initializing and Populating the Table:
The myTable variable initializes the table with a blue background, and subsequent table.cell functions populate the table with headers and data.
// Initialize the table with adjusted bgcolor
var myTable = table.new(position = iPosition, columns = 5, rows = 10, bgcolor = color.new(color.blue, 90), border_width = 1, border_color = color.new(color.blue, 70))
Dynamic Data Population:
Data is dynamically populated in the table using the calculated values for Monthly Extremums, Weekly Extremums, Monthly Pivot Points, Resistances, and Supports.
// Add rows dynamically with data
= getPrevMonthHighLow()
= getPrevWeekHighLow()
= getMonthlyPivotPoints()
---
Conclusion:
The Adaptive MFT Extremum Pivots indicator offers traders a detailed and clear representation of critical market levels, empowering them to make informed decisions. However, users should carefully analyze the market and consider their individual risk tolerance before making any trading decisions. The indicator's disclaimer emphasizes that it is not investment advice, and the author and script provider are not responsible for any financial losses incurred.
---
Disclaimer:
This indicator is not investment advice. Trading decisions should be made based on a careful analysis of the market and individual risk tolerance. The author and script provider are not responsible for any financial losses incurred.
Kind regards,
Ely
Renko Box Chart Overlay by BDThis is Renko chart overlay for Candles chart. You can use it to identify market direction and potential key points.
To use it simply select box size and any timeframe you want.
With this overlay you can be sure that you'll see every brick on a chart showing general market direction with all the details of a candles chart.
Alternatives Renko overlay charts:
If you don't have access to 1s timeframe or you don't want to use low TF here is the situation with built in Renko chart on 5m TF:
This Renko boxes are linked to chart by time(candle) and price. It will draw a box even if price didn't close above(or below) of box level:
But be careful when setting box size too small because it will produce bad results:
The issue is known and I'll work on fixing it in next update, for now use box size at least the size of a body of a candle, after all renko is for general market movement and not for marking up every tick.
Let me know if you want to see any additions.
Market Flow Trend Lines & Liquidity [LuxAlgo]The Market Flow Trend Lines & Liquidity indicator is a script that aims to automate key insights such as trend lines, liquidity zones, opening ranges, & gaps on the chart. The aim of this script is to provide a functional breakout trader toolkit with various familiar tools as well as unique capabilities to further improve the user experience.
🔶 USAGE
There are various methods for using the features within this script, even with the included take profit levels users can pre-define.
The dotted lines represent an Opening Range with levels we can use as support & resistance. This opening range can be traded within the levels; however, it can also be used to tell the sentiment of price to see how it reacts to it.
In the image below, we can see after price was holding above the Opening Range whilst printing bullish trendline breakout signals, it made its way to the TP level we enabled from within the indicator to calculate a potential level for taking profits in a breakout trade.
The Market Flow Trend Lines & Liquidity indicator's key feature reside within its multi-timeframe capabilities for the main trendlines, as well as its key zones for potential entries.
In the image above we can see multiple areas where multi-timeframe (1H) trendlines on the 30m chart acted as support & resistance, alongside the Liquidity Zones & Opening Range as optimal points of interest for a breakout trader.
🔶 SETTINGS
🔹 Trendlines
Trendlines Lookback: Determines the frequency of detected tops/bottoms used to construct trendlines.
Slope: Trendlines slope, with higher values returning steeper trendlines.
Timeframe: Trendline timeframe.
🔹 Liquidity Zones
Liquidity Lookback: Determines the frequency of detected tops/bottoms used to construct liquidity zones.
🔹 Take Profits
Take profit settings. Up to 3 ATR based take profits can be enabled, with a numerical setting controlling the ATR multiplier.
🔹 Opening Range
From Time: 15min opening range starting time.
Extend: Extension length of Opening Range lines (in bars).
🔹 Gap Imbalance
Gap Up: Display upward gaps.
Gap Down: Display downward gaps.
🔹 EMA
Show EMA: Displays an EMA on the chart.
EMA Length: Length of the displayed EMA.
🔶 RELATED SCRIPTS
Liquidity Swings
Trendlines with Breaks
Price Cross Time Custom Range Interactive█ OVERVIEW
This indicator was a time-based indicator and intended as educational purpose only based on pine script v5 functions for ta.cross() , ta.crossover() and ta.crossunder() .
I realised that there is some overlap price with the cross functions, hence I integrate them into Custom Range Interactive with value variance and overlap displayed into table.
This was my submission for Pinefest #1 , I decided to share this as public, I may accidentally delete this as long as i keep as private.
█ INSPIRATION
Inspired by design, code and usage of CAGR. Basic usage of custom range / interactive, pretty much explained here . Credits to TradingView.
█ FEATURES
1. Custom Range Interactive
2. Label can be resize and change color.
3. Label show tooltip for price and time.
4. Label can be offset to improve readability.
5. Table can show price variance when any cross is true.
6. Table can show overlap if found crosss is overlap either with crossover and crossunder.
7. Table text color automatically change based on chart background (light / dark mode).
8. Source 2 is drawn as straight line, while Source 1 will draw as label either above line for crossover, below line for crossunder and marked 'X' if crossing with Source 2's line.
9. Cross 'X' label can be offset to improve readability.
10. Both Source 1 and Source 2 can select Open, Close, High and Low, which can be displayed into table.
█ LIMITATIONS
1. Table is limited to intraday timeframe only as time format is not accurate for daily timeframe and above. Example daily timeframe will give result less 1 day from actual date.
2. I did not include other sources such external source or any built in sources such as hl2, hlc3, ohlc4 and hlcc4.
█ CODE EXPLAINATION
I pretty much create custom function with method which returns tuple value.
method crossVariant(float price = na, chart.point ref = na) =>
cross = ta.cross( price, ref.price)
over = ta.crossover( price, ref.price)
under = ta.crossunder(price, ref.price)
Unfortunately, I unable make the labels into array which i plan to return string value by getting the text value from array label, hence i use label.all and add incremental int value as reference.
series label labelCross = na, labelCross.delete()
var int num = 0
if over
num += 1
labelCross := label.new()
if under
num += 1
labelCross := label.new()
if cross
num += 1
labelCross := label.new()
I realised cross value can be overlap with crossover and crossunder, hence I add bool to enable force overlap and add additional bools.
series label labelCross = na, labelCross.delete()
var int num = 0
if forceOverlap
if over
num += 1
labelCross := label.new()
if under
num += 1
labelCross := label.new()
if cross
num += 1
labelCross := label.new()
else
if cross and over
num += 1
labelCross := label.new()
if cross and under
num += 1
labelCross := label.new()
if cross and not over and not under
num += 1
labelCross := label.new()
█ USAGE / EXAMPLES
Targets For Overlay Indicators [LuxAlgo]The Targets For Overlay Indicators is a useful utility tool able to display targets during crossings made between the price and external indicators on the user chart. Users can display a series of two targets, one for crossover events and another one for crossunder event.
Alerts are included for the occurrence of a new target as well as for reached targets.
🔶 USAGE
In order for targets to be displayed users need to select an appropriate input source from the "Source" drop-down input setting. In the example above we apply the indicator to a volatility stop.
This can also easily be done by adding the "Targets For Overlay Indicators" script on the VStop indicator directly.
Targets can help users determine the price limit where the price might start deviating from an indication given by one or multiple indicators. In the context of trading, targets can help secure profits/reduce losses of a trade, as such this tool can be useful to evaluate/determine user take profits/stop losses.
Due to these essentially being horizontal levels, they can also serve as potential support/resistances, with breakouts potentially confirming new trends.
Users might be interested in obtaining new targets once one is reached, this can be done by enabling "New Target When Reached" in the target logic setting section, resulting in more frequent targets.
Lastly, users can restrict new target creation until current ones are reached. This can result in fewer and longer-term targets, with a higher reach rate.
🔹 Examples
The indicator can be applied to many overlay indicators that naturally produce crosses with the price, such as moving average, trailing stops, bands...etc.
Users can use trailing stops such as the SuperTrend or VStop to more easily create clean targets. Do note that certain SuperTrend scripts separate the upper and lower extremities of the SuperTrend into two different plot, which cannot be used with this tool, you may use the provided SuperTrend script below to have a compatible version with our tool:
//@version=5
indicator("SuperTrend", overlay = true)
factor = input.float(3, 'Factor', minval = 0)
atrLen = input.int(10, 'ATR Length', minval = 1)
= ta.supertrend(factor, atrLen)
plot(spt, 'SuperTrend', dir != dir ? na : dir < 0 ? #089981 : #f23645, 2)
plot(spt, 'Circles', dir > dir ? #f23645 : dir < dir ? #089981 : na, 3, plot.style_circles)
Using moving averages can produce more targets than other overlay indicators.
Users can apply the tool twice when using bands or any overlay indicator returning two outputs, using crossover targets for obtaining targets using the upper band as source and crossunder targets for targets using the lower band. We can also use the Trendlines with breaks indicator as example:
🔹 Dashboard
A dashboard is displayed on the top right of the chart, displaying the amount, reach rate of targets 1/2, and total amount.
This dashboard can be useful to evaluate the selected target distances relative to the selected conditions, with a higher reach rate suggesting the distance of the targets from the price allows them to be reached.
🔶 SETTINGS
Source: Indicator source used to create targets. Targets are created when the closing price crosses the specified source.
Show Target Labels: Display target labels on the chart.
Candle Coloring: Apply candle coloring based on the most recent active target.
🔹 Target
Crossover and Crossunder targets use the same settings below:
Show Target: Determines if the target is displayed or not.
Above Price Target: If selected, will create targets above the closing price.
Wait Until Reached: When enabled will not create a new target until an existing one is reached.
New Target When Reached: Will create a new target when an existing one is reached.
Evaluate Wicks: Will use high/low prices to determine if a target is reached. Unselecting this setting will use the closing price.
Target Distance From Price: Controls the distance of a target from the price. Can be determined in currencies/points, percentages, ATR multiples, or ticks.
Opening Range & Prior Day High/Low [Gorb]Introduction:
Opening Range & Prior Day High/Low indicator is an easy to use day traders tool. This indicator automatically plots the previous days high and low, as well as drawing a box from the opening range that the user specifies in the settings. These two together can help provide an indication of market sentiment and price trends for the day. They are often used as a trading strategy for day traders.
Overview:
The Opening Range , draws a box from the high to the low of the user defined time period and is extended until the end of the trading session. Most common are the 5/15/30min opening ranges.
Prior Day High/Low , draws lines from the previous days high and low that extend across the current session. These are used as support/resistance and also a marker to see market sentiment by crossing one of these levels.
The indicator is designed for all kinds of traders, offering a simple approach to automatically plot levels for you.
Features:
All skill-level friendly presets, easy to enable with one-click
Opening Range: Allows user to choose what time the range starts and ends to measure the high & low.
Extend Range Lines: allows the user to choose when the box stops extending according to the trading session time.
Enable Opening Range Box: allows the user to choose to plot the opening range or not.
ORB Border Color: allows the user to change the box border color.
ORB Box Shade Color: allows the user to change the background of the opening range box.
ORB Line Width: allows users to chose the width of the opening range box lines.
Enable Previous Day High: allows users to enable the previous days high to be plotted.
Enable Previous Day Low: allows users to enable the previous days high to be plotted.
Previous Day High Color: allows users to choose the color for this line.
Previous Day Low Color: allows users to choose the color for this line.
All colors are changeable for the user to customize to their liking.
Usage Demonstration
In the image below, we can see a basic example of how these 3 features function.
As explained above, the opening range is customizable to meet the users needs and can be disabled with one click. Same goes for the prior day high(green) and low(red) lines. All 3 are plotted each day automatically for the user if enabled.
In the image below, we can see an example of using the opening range break and prior day high together for a trading strategy.
This is a great example of using the prior day high with the opening range to use as a day trading strategy. It provides the trader with levels to watch for price to break out from for possible trade setups.
In this next image, we can see a failed breakdown from the opening range that results in a bullish breakout.
The first move was a fake breakdown with the failed rejection on the retest of the opening range lows. This led to a breakout above the range and a confirmation bounce on the breakout retest. Price did break above the prior day high and confirmed with a retest bounce on that level as well.
In the image below, we can see how previous days levels can act as resistance to use with the opening range.
Price didn't reject the opening range low, but it did reject the prior day high for the second time. This could be used as an entry or once price breaks down out of the opening range again.
Conclusion:
We believe in providing user-friendly tools to help speed up traders technical analysis and implement easy trading strategies. The goal is to provide a user-friendly indicator to automatically draw opening ranges and previous days levels to suit the users needs and trading style.
RISK DISCLAIMER
All content, tools, scripts & education provided by Monstanzer or Gorb Algo LLC are for informational & educational purposes only. Trading is risk and most lose their money, past performance does not guarantee future results.
IMGBasic - HTF Structure / Order Blocks / Breakers - V1.0IMG Indicators Overview
The IMG Indicators are crafted as comprehensive educational tools for price action traders. They incorporate a variety of concepts including:
1. Multiple Timeframe Analysis
2. Order Blocks (OB)
3. Breakers (BRKR)
4. Fair Value Gaps (FVGs)
5. Overlaps of OB and FVG
6. Overlaps of BRKR and FVG
7. Analysis of Internal and External Liquidity
8. Strategies for Identifying Potential Entries, Stop-loss, and Target Levels
9. Risk Management and Position Sizing
These Price Action concepts can be applied to any market (Stocks / Options / Forex / Futures / Crypto ) and any timeframe.
Introduction to the IMG Basic Indicator
The IMG Basic Indicator serves as the foundational level within the IMG suite of indicators. Its core function is to acquaint traders with elementary price action concepts such as:
1. Higher Timeframe Market Structures through Multiple Timeframe Analysis
2. Higher Timeframe Order Blocks
3. Higher Timeframe Breakers
4. Breaks in Higher Timeframe Market Structure
Higher Timeframe Market Structure:
Market Structure can be defined using several techniques. The IMG indicators employ the Close through High/Low technique, which necessitates a candle close through a structural level to validate a structural break and designate a new range.
Example: H12 Market Structure visualisation on a H12 Chart with annotations:
By selecting a particular Market Structure timeframe in the settings, the indicator immediately illustrates both current and historical market structures for the chosen timeframe across all subordinate timeframes, subject to the limitations of your Tradingview subscription.
Example: H12 Market Structure visualisation on a H1 Chart with annotations:
Higher Timeframe Order Blocks (OB)
An Order Block represents the last candle of the opposite direction preceding a Market Structure Break. For instance, a bullish Order Block is identified as the final bearish candle leading to a bullish market structure break, and vice versa for bearish Order Blocks.
Example: H12 OB visualisation on a H12 Chart with annotations:
When activated, the indicator will highlight the Higher Timeframe Order Blocks responsible for a Market Structure Break on all subordinate timeframes relative to the chosen Market Structure Timeframe.
Note: if multiple OBs exist, the indicator will display the OB closest to the new range extreme
Example: H12 OB visualisation on a H1 Chart with annotations:
Higher Timeframe Breaker Blocks (BRKR)
A Breaker Block is identified as the most recent Order Block that has been breached by price, followed by an opposite Market Structure Break. For example, a bullish Breaker Block is the last bearish Order Block that price has passed through, followed by a bullish structural break, and the inverse is true for bearish Breakers.
Example: H12 Breaker visualisation on a H12 Chart with annotations:
Once enabled, the system will display Higher Timeframe Breaker Blocks after an opposite Market Structure Break is confirmed on all subordinate timeframes.
Example: H12 Breaker visualisation on a H1 Chart with annotations:
ALERTS: Higher Timeframe Market Structure Breaks (HTF MSBs)
The system provides notifications of confirmed Market Structure Breaks based on the selected Higher Timeframe Market Structure Timeframe. For instance, selecting a weekly structure will trigger an alert when price closes through a weekly structural level, and the same logic applies to other timeframes like D, H12, H4, H1 etc.
To enable alerts, right-click on the indicator and select “Add Alert on IMG ...”. You may customise the alert name as desired and then click 'Create' to finalise the alert setup.
General Note:
There is no system, indicator, algorithm, or strategy that can provide absolute certainty in predicting market movements. Use trading indicators as a tool to assist with trading decisions and manage your risk wisely.
For a complete user manual / knowledge base on the IMG Indicators, click on the User Manual link in the signature below
Stay safe and Happy Trading!
Displacement Order Blocks ~ DOB [Liquidity_Pro]Displacement Order Blocks (DOB)
This indicator shows order blocks with displacement (FVG required) and leans heavily on ICT’s generous and insightful teachings to define midlines for FVG, IFVG, and order blocks. The market structure definitions follow TradingHub’s (TH) rules filtering out inside bars.
It offers alerts for price in order block, liquidity sweep, break of structure (BOS), change of character (CHoCH), and inducement (IDM).
The TH model was chosen because it's programmatic allowing clear structure definitions that allow us to mark inducements (S/O to @albatherium for publishing the first TH market structure indicator).
TH’s Single Candle Order Block (SCOB) rules have also been helpful in refining order block definition, for example in the Transfer case. ICT fans will see when back testing this, that it moves the focus closer to the FVG.
In developing this indicator, we've tried to offer great aesthetic flexibility, to keep the chart uncluttered and to avoid exceeding Trading View’s limitations on boxes and lines. It's also configured to work reasonably well on both light and dark background charts:
We hope this indicator can serve as a teaching tool for ICT’s price action insights and SMC market structure concepts. For this, we've included optional labels for various order block types:
I = inside bar. The bars that follow the order block have been ignored – you will see the number of ignored bars shown after a hyphen. The idea is that inside bars fall in the shadow of a more important candle and can’t be relied on for defining a trade.
S = standard case. The order block candle takes liquidity from the previous candle and is followed immediately after by an FVG on the next candle. This differs technically from the ICT “last down-close/last up-close” order block concept. In practice, this choice has very little impact on ICT trading, because the ICT trader is entering on the FVG anyway.
T = transfer case. This is an order block that has been transferred from the candle that takes liquidity to the candle just prior to the FVG. When you back test this, you will see it is a high probability choice.
TZ = tweezer. This is an option you can turn off that fills a hole in TH teachings. It bypasses the requirement for an order block to take liquidity from the previous candle in the case of equal h/ls. The result is that you will find 2 candle order blocks with equal highs and lows (also known as tweezer tops/bottoms) show on your chart. You will note that every tweezer is a wick on a higher timeframe.
W = wick. this is a big wick candle that we call an order block without requiring an FVG. The presumption is that the displacement is contained within the wick itself on a lower timeframe.
* Asterisk denotes an extreme order block.
Finally, we trade with this indicator (using it together with our Daye Quarterly Theory ~ DQT free indicator, taking trades when price reaches an extreme FVG or order block during a Q2 manipulation).
We will continue developing it along with other indicators we have not yet published. So please boost if you like this and follow us for updates. Also please let us know what new features you would like to see.
OHLC BreakThis indicator shows the Support and Resistance zones in a different way with Boxes that extend to the right and show the candle that has broken a minimum number of High or Low
The user has the possibility to:
- Choose to show High or Low levels not yet broken
- Shows candles that have broken a total of high or Low that you pre-set
- Choose to show a Box on candles that have broken the minimum of the preset levels
- Choose to show the total of broken levels with a Label on the candle
The indicator should be used as OHLC shows in its concepts, it can also be implemented to your Support and Resistance strategies, it can be implemented to Sessions strategies as in the Example
Below I show various examples on how to set the indicator for show High or Low levels not yet broken
If something is not clear, comment below and I will reply as soon as possible.
Donchian Trend SignalsThe Donchian Trend Signals is an indicator developed to help traders identify the current trend direction and potential liquidity grabs.
The usage of the indicator is very simple, on the chart you'll see a modified version of the classic and popular Donchian channel, calculated using the closing prices, that changes the color of the average middle line to indicate the direction of the current trend. The indicator also colors the candlestick.
Using the option "Complex Mode" will give your indicator additional data by changing the calculation method. These changes make the lines become the average between different lengths of the same Donchian channel formula.
Additionally, the indicator plots on the chart some buy or sell signals, displayed as diamonds above or below the candles. The signals are calculated to find potential liquidity grabs using the wicks, the true range of the candles, and the volume compared to his average value.
Demand and Supply Zones Pro [Afnan]Are you looking to level up your trading game and spot potential turning points in the stock market? Introducing the Smart Money Demand and Supply Zones indicator, a powerful tool designed to identify opportunities created by the Smart money.
The Smart Money Demand and Supply Zones indicator is built upon the principles of Rally Base Rally (RBR), Rally Base Drop (RBD), Drop Base Rally (DBR), Drop Base Drop (DBD).
🔍 Key Details 🔍
The "Smart Money" concept refers to large institutional investors and professional traders who possess significant financial resources and expertise. The importance of smart money lies in their influence on market trends and price movements. Their actions and positions often serve as signals for retail traders and investors to make informed decisions.
Formation of Smart Money: Smart money is attracted to areas in the market where they can find favourable risk-to-reward opportunities.
1. Rally Base Rally (RBR) Zones: These zones occur after a rally (upward price movement), followed by a period of consolidation (base formation), and then another rally. Smart money often forms positions here as it suggests a strong uptrend continuation.
2. Rally Base Drop (RBD) Zones: In this case, there is a rally, followed by a base formation, but instead of another rally, the price drops. Smart money may position themselves here in anticipation of a potential trend reversal.
3. Drop Base Rally (DBR) Zones: These zones form when there is a drop in price, followed by a base formation, and then a rally. Smart money may take positions here, expecting a trend reversal to the upside.
4. Drop Base Drop (DBD) Zones: In this scenario, the price drops, then forms a base, but subsequently continues to drop. Smart money might take bearish positions here, anticipating further downward movement.
🚀 Pending Orders from Smart Money Zones: 🚀
When the price approaches these smart money zones, institutional investors often place remaining pending orders to enter the market.
By identifying RBR/DBR zones as potential buying opportunities and RBD/DBD zones as potential selling opportunities on price charts, retail traders can align their trades with smart money activities. Implementing proper risk management and confirming signals enhances the likelihood of successful trades by following the footsteps of institutional investors.
💡 Key Features of the Indicator 💡
This indicator includes the following features:
Customizable Zone Length: Adjust the number of base candles in a zone to suit your preferences and strategy.
Candle Body Size Customization: Personalize the body size of candles for fine-tuning visual representation.
Alert Feature: The alert feature can notify you when the price reaches a demand or supply zone, with the ability to customize the risk-to-reward parameters.
Base Candle Selection: Choose between the body of the candle or narrow range candles as the base candle for zone plotting.
Colour Customization For Candles: Customize Drop, Base, Rally, and Zone colours to match your visual preferences.
Number of Zones: This feature is flexible, allowing you to customize the quantity of zones displayed on the chart for improved visibility.
Zone Colours: You have the option to personalize the colours for both fresh and tested zones based on your preferences.
Zone Strength Customization: Adjust candle sensitivity for better control.
Swing High and Swing Low: Enable or disable support and demand lines based on Swing High and Swing Low.
Wick of Candle: Customize zone plotting using the body or wicks of candles for flexible analysis.
Previous Zones: You can choose to display or disable previous zones on the chart that have been deleted and utilized before. This option helps you maintain a clutter-free chart while retaining valuable historical information.
Moving Averages: Utilize four (4) customizable Moving Averages to enhance analysis from any time frame.
💎 Employing a Top-Down Approach and Multiple Time Frame Analysis: 💎
Let's delve into the concept of adopting a top-down approach combined with multiple time frame analysis in trading scenarios. It is consistently recommended to trade with the trend because, as the saying goes, "the trend is your friend." If you identify a demand zone on the chart but the overall trend is downward, it's crucial to confirm the stock's trend in higher timeframes. Avoid purchasing from the demand zone in such a scenario as you would be going against the trend. To consider buying from the demand zone, ensure that the overall trend is upward by checking the higher timeframe.
Similarly, if the higher timeframe trend is upward but the price is approaching a higher timeframe supply zone, refrain from buying in the lower timeframe. If the price reaches a higher timeframe supply zone, there is a likelihood that the price will face rejection from this zone.
If the price is significantly extended from the EMA 20 on a higher timeframe, for instance, if you plan to trade on a 30-minute timeframe and the price is considerably extended from the daily EMA 20, consider trading from zones that are closer to the daily EMA 20. When the price is extended from the higher timeframe EMA 20, it implies that the price is expensive, and there may be a tendency for it to return to the EMA 20. Therefore, it is advisable to trade from zones that are closer to the higher timeframe EMA 20 and avoid zones that are extended from the higher timeframe EMA 20.
For instance, imagine you're considering purchasing a stock that has reached a demand zone known as Rally Base Rally (RBR). If you identify a corresponding demand zone in a higher time frame located at the same position, and concurrently observe that the intermediate time frame indicates an upward trend, your potential for a successful trade is enhanced.
Conversely, if you spot a buying zone in a lower time frame, but notice a supply zone in the higher time frame at that exact position, the likelihood of a profitable trade decreases significantly. In such cases, it's prudent to steer clear of the lower time frame zone. This emphasizes the critical significance of employing a top-down approach or conducting a multiple time frame analysis.
Note: By Doing top down approach you can easily follow the footprints of smart money in the stock market or any other market by using this indicator and make well-informed trading decisions.
Remember, don't make decisions based only on one time frame. Check the overall trend of the stock and look at buying and selling points on bigger time scales. If you only use one time scale, your chances of making successful trades will be lower.
💎 To execute these comprehensive analyses and optimize your trading outcomes, you can make use of my indicator called "Demand & Supply Zone Scoring: Rally Base & Drop Concept."💎
This indicator is thoughtfully crafted to assess the strength of trade setups based on demand and supply zones through a scoring mechanism. It serves as your guide for correct top-down and multiple time frame analysis, eliminating the possibility of overlooking any strategic parameters. To gain deeper insights, you can learn more about how to use this indicator in its description.
Lastly, Thank you for your support, your likes & comments." Feel free to ask if you have questions.
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MMLE [Orderflowing]MMLE | Murrey Math Lines Extended | Support and Resistance |Auto-Readjusting
Built using Pine Script V5.
Introduction
The MMLE (Murray Math Lines Extended) Indicator is a tool designed to improve the classic Murrey Math Trading Lines.
It provides traders with a detailed framework of support and resistance, calculated over a user-defined # of bars to use period.
Inspiration and Evolution
Inspired by the utility of Murrey Math Trading Lines as a means to identify key levels, the MMLE extends this concept with additional features for a better visual aesthetic and customizable approach.
It's made to offer a clearer picture of potential turning points in the asset.
Core Functionality
The MMLE indicator dynamically calculates horizontal lines representing potential support and resistance areas based on the highest high and the lowest low over a specified number of bars.
These levels serve as a help for navigating market structure and underlying price action.
Core Customization
Traders can fit the MMLE indicator to their trading needs with several input options:
Number of Bars: Define the period for calculating high and low extremes. (32-512 bars in increments of 32 bars)
Level Display: Choose to display levels, include middle levels, or solely the pivotal zero level and support/resistance for a customized chart view.
Price Wicks: Option to include wicks for sensitivity to price spikes.
Multi-Timeframe Input: Option to draw from a different timeframe as the basis.
Detailed Level Analysis
The MMLE breaks down the price range into increments, creating these levels:
Upper Extremity Levels: Highlight overbought conditions and potential reversal zones.
Lower Extremity Levels: Suggest oversold conditions and potential bounce areas.
Central Pivot Level: The 0 level (level 4/8) acts as a market equilibrium point.
Intermediate Levels: Offers additional support and resistance.
Examples:
Only Support & Resistance Levels:
Include 0 Level:
Include Intermediate/Middle Levels:
Visual Clarity and Interpretation
Distinctive color coding and line styles provide visual cues:
Red Lines: Upper resistance and potential reversal points.
Green Line: The pivotal 0 level, indicating market balance.
Blue Lines: Lower support and potential recovery areas.
Grey Lines: Minor support or resistance.
Multi-Timeframe
The MMLE indicator is engineered with multi-timeframe capability, allowing traders to select a different timeframe from which to draw the levels.
This feature enables a comprehensive analysis across various time periods.
If a trader wanted to use the 3-hour period MMLE lines while watching the price action on a 4-hour period. That is possible with this feature.
Trading Style
The MMLE is for various trading styles, from day trading to swing trading, providing better levels for precise entry and exit points or broader market structure analysis.
Usage and Applications
Utilize the MMLE to:
Pinpoint potential reversal zones and price extremes.
Set strategic stop placements and profit targets.
Complement and enhance existing trading strategies with detailed support and resistance levels.
From extensive testing the best levels for most used timeframes are 32/64 | 128/256.
Please make sure you do your own testing with the asset of your choice.
The Value
it's an innovative extension that provides significant value through its detailed level calculations and customization options.
Customization and User Input
The MMLE respects the individual trader's strategy, offering settings for the source period, inclusion of price wicks, and level display preferences.
Conclusion
The MMLE goes beyond traditional support and resistance indicators by offering a customizable, detailed view of market structure.
It's a tool designed not to replace but to improve your existing trading strategy, providing a layer of depth to your market analysis.
Savage MorningMade for those Savage morning where you need to plot your values quicker.
The following section defines several input variables with default values that can be configured by the user:
resistance, weak_resistance, support, weak_support, gap_price, gap_price2, last_close, key_price, key_price1, key_price2, key_price3: These variables represent various price levels such as resistance, support, gap prices, and key levels. Users can input their own values for these levels when adding the indicator to their chart.
Next, there are boolean input variables that control the visibility of each line:
show_res, show_weak_res, show_sup, show_weak_sup, show_gap, show_gap2, show_last_close, show_key, show_key1, show_key2, show_key3: These variables allow users to choose which lines should be displayed on the chart by toggling them on or off.
Following that, there are multiple plot statements. These statements create plot series for each line that may be displayed on the chart. The plot function determines the value to be plotted based on the user's input and the visibility settings:
plot_res, plot_weak_res, plot_sup, plot_weak_sup, plot_gap, plot_gap2, plot_last_close, plot_key, plot_key1, plot_key2, plot_key3: These variables store the values to be plotted for the respective lines based on the user's input and visibility settings.
After defining the plot series, there are multiple plot statements that actually plot the lines on the chart. Each line has its own color and title specified.
Finally, labels are added on the right side of the lines to provide additional information. The label.new function is used to create labels for each line, displaying their names ("Res," "Weak Res," "Sup," etc.) at the corresponding price levels on the chart.
In summary, this Pine Script code creates a custom indicator named "Savage Morning" that allows users to input various price levels and choose which of these levels should be displayed on their chart. It plots these levels as lines with different colors and labels them for easy identification on the chart. The indicator is designed to help traders visualize important price levels and gaps that they have determined for themselves and make it easier for them to plot or change their own levels.
Smooth Trail V2Please, enjoy your new game-changing tradingview indicator, may I present to you: the Smooth Trail (second version), with an updated script and open source script to let anyone use it freely.
The Smooth Trail is an indicator that works just like a super trend, but it has a completely different usage and potential.
The super trend works by following the price and displaying a line that uses the ATR to determine how far it has to be from the actual price, and many new traders like to use the indicator thanks to its easy readability and the buy-sell signals that it shows, unfortunately, this is not the best usage of the indicator and it often leads to losing money on the markets.
The main characteristic that this indicator has is that, not like the normal super trend, it follows the trend better adapting itself in the retracement phases.
The second feature that dictates the best usage of this indicator, is that it shows a zone in which to buy or sell to have the best risk-to-reward ratio.
The indicator also works as the dynamic level of support and resistance and can be used best for trend-following strategies to maximize profits.
The first input, the multiplier, is used to determine how many times the ATR has to be added or subtracted in order to plot the indicator.
The second input, the length, is used to determine how many candles the indicator and the ATR have to consider for the calculation.
The third and last input, the zone width, is used to calculate the width of the zone displayed by the indicator, and is the factor that will be multiplied by the ATR, this means that if you leave the settings as default, the zone will be 1 ATR or 34 candle width.
This indicator is great to use in confluence with other indicators or with various candlestick patterns.
Extended Parallel ChannelsThis indicator provides an enhanced version of the popular Parallel Channel tool by allowing channel boundaries to be extended above and below the primary channel. It can also serve as a general tool for drawing parallel lines and grid lines to aid technical analysis.
🟠 Application
There are two primary ways extended channels can provide valuable insights:
🔵 Support and Resistance Levels
When prices break out of a channel, they often encounter strong resistance at approximately the 100% extension point. Breakout traders can utilize the extended channel boundary to place take-profit orders. Meanwhile, reversal traders can look for entry opportunities at this level.
🔵 Grid / Martingale Trading
Grid Trading and Martingale Trading strategies rely heavily on grid lines. This indicator streamlines that process by enabling traders to effortlessly plot grid lines across the chart.
🟠 Instructions
Upon adding the indicator, the user will be prompted to set the channel boundaries by placing three anchor points on the chart. The first two anchors determine one boundary line, while the third anchor determine the other boundary line.
Once the three anchors are positioned, the indicator automatically plots the resulting channel as well as the extended lines. The anchor points are highlighted as movable blue circles, allowing the user to dynamically adjust the channel formation by dragging the anchors to new locations as needed.
