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.
チャートパターン
Market Structure (Breakers) [LuxAlgo]The Market Structure (Breakers) indicator aims to detect "Breaker Market Structures", an original concept inspired by breaker blocks, and extend on the original concept of market structures by extending existing MS levels, providing supports/resistances as a result.
Various graphical elements are included that highlight the interactions between price and Breaker structures.
🔶 USAGE
Breaker structures occur when a market structure is confirmed (price breaking a previous swing level). The broken swing point is extended by a dotted line which can be used as potential support or resistance.
After a market structure, the price can eventually reverse and break one or multiple breaker structures at the same time, allowing for the detection of new trends in the price.
A market structure closer to the top/bottom of a trend can return Breaker structures breakouts more indicative of potential reversals.
Breakers MS breakouts can also be useful as exits for entries done using market market structures.
The script additionally highlights support/resistance events by highlighting candle borders, with a border using a green color indicating support events while a red color is indicative of a resistance event.
🔹 Breaker Structure Lifespan
The "lifespan" of Breaker structures, that is the amount of time the script will extend/evaluate them is determined by various user settings.
The Maximum Breaks setting determines the maximum amount of breaks a breaker structure can withstand before it is broken.
For example, a maximum amount of breaks of 3 for a bearish breaker structure would require the price to cross under that precise breaker structure level three times. Using higher values of this setting will also highlight more Breakers MS.
The Breaker Maximum Duration setting on the other hand determines how many bars a breaker structure can be evaluated without being broken. If a breaker structure is not broken after this amount of bars then it will stop being evaluated and will be removed.
🔶 SETTINGS
Swings Period: Period used for the swing detection, with higher values returning longer term markter structures.
Maximum Breaks: Amount of break required for a breaker block to be considered broken.
Breaker Maximum Duration: Maximum duration of a breaker block (in bars).
ICT Silver Bullet with signals
The "ICT Silver Bullet with signals" indicator (inspired from the lectures of "The Inner Circle Trader" (ICT)),
goes a step further than the ICT Silver Bullet publication, which I made for LuxAlgo :
• uses HTF candles
• instant drawing of Support & Resistance (S/R) lines when price retraces into FVG
• NWOG - NDOG S/R lines
• signals
The Silver Bullet (SB) window which is a specific 1-hour interval where a Fair Value Gap (FVG) pattern can be formed.
When price goes back to the FVG, without breaking it, Support & Resistance lines will be drawn immediately.
There are 3 different Silver Bullet windows (New York local time):
The London Open Silver Bullet (03 AM — 04 AM ~ 03:00 — 04:00)
The AM Session Silver Bullet (10 AM — 11 AM ~ 10:00 — 11:00)
The PM Session Silver Bullet (02 PM — 03 PM ~ 14:00 — 15:00)
🔶 USAGE
This technique can visualise potential support/resistance lines, which can be used as targets.
The script contains 2 main components:
• forming of a Fair Value Gap (FVG)
• drawing support/resistance (S/R) lines
🔹 Forming of FVG
When HTF candles forms an FVG, the FVG will be drawn at the end (close) of the last HTF candle.
To make it easier to visualise the 2 HTF candles that form the FVG, you can enable
• SHOW -> HTF candles
During the SB session, when a FVG is broken, the FVG will be removed, together with its S/R lines.
The same goes if price did not retrace into FVG at the last bar of the SB session
Only exception is when "Remove broken FVG's" is disabled.
In this case a FVG can be broken, as long as price bounces back before the end of the SB session, it will remain to be visible:
🔹 Drawing support/resistance lines
S/R target lines are drawn immediately when price retraces into the FVG.
They will remain updated until they are broken (target hit)
Potential S/R lines are formed by:
• previous swings (swing settings (left-right)
• New Week Opening Gap (NWOG): close on Friday - weekly open
• New Day Opening Gap (NWOG): close previous day - current daily open
Only non-broken lines are included.
Broken =
• minimum of open and close below potential S/R line
• maximum of open and close above potential S/R line
NDOG lines are coloured fuchsia (as in the ICT lectures), NWOG are coloured white (darkmode) or black (lightmode ~ ICT lectures)
Swing line colour can be set as desired.
Here S/R includes NDOG lines:
The same situation, with "Extend Target-lines to their source" enabled:
Here with NWOG lines:
This publication contains a "Minimum Trade Framework (mTFW)", which represents the best-case expected price delivery, this is not your actual trade entry - exit range.
• 40 ticks for index futures or indices
• 15 pips for Forex pairs
The minimum distance (if applicable) can be shown by enabling "Show" - "Minimum Trade Framework" -> blue arrow from close to mTFW
Potential S/R lines needs to be higher (bullish) or lower (bearish) than mTFW.
🔶 SETTINGS
(check USAGE for deeper insights and explanation)
🔹 Only last x bars: when enabled, the script will do most of the calculations at these last x candles, potentially this can speeds calculations.
🔹 Swing settings (left-right): Sets the length, which will set the lookback period/sensitivity of the ZigZag patterns (which directs the trend and points for S/R lines)
🔹 FVG
HTF (minutes): 1-15 minutes.
• When the chart TF is equal of higher, calculations are based on current TF.
• Chart TF > 15 minutes will give the warning: "Please use a timeframe <= 15 minutes".
Remove broken FVG's: when enabled the script will remove FVG (+ associated S/R lines) immediately when FVG is broken at opposite direction.
FVG's still will be automatically removed at the end of the SB session, when there is no retrace, together with associated S/R lines,...
~ trend: Only include FVG in the same direction as the current trend
Note -> when set 'right' (swing setting) rather high ( > 3), he trend change will be delayed as well (default 'right' max 5)
Extend: extend FVG to max right side of SB session
🔹 Targets – support/resistance
Extend Target-lines to their source: extend lines to their origin
Colours (Swing S/R lines)
🔹 Show
SB session: show lines and labels of SB session (+ colour)
• Labels can be disabled separately in the 'Style' section, colour is set at the 'Inputs' section
Trend : Show trend (ZigZag, coloured ~ trend)
HTF candles: Show the 2 HTF candles that form the FVG
Minimum Trade Framework: blue arrow (if applicable)
🔶 ALERTS
There are 4 signals provided (bullish/bearish):
FVG Formed
FVG Retrace
Target reached
FVG cancelled
You can choose between dynamic alerts - only 1 alert needs to be set for all signals, or you can set specific alerts as desired.
💜 PURPLE BARS 😈
• Since TradingView has chosen to give away our precious Purple coloured Wizard Badge, bars are coloured purple 😊😉
Consecutive Higher/Lower ClosingsThe Consecutive Higher/Lower Closings indicator is a powerful tool designed to assist traders in identifying potential buy and sell signals based on consecutive higher or lower closing prices. This indicator provides users with the flexibility to specify the number of consecutive higher or lower closings required to trigger a signal, allowing for a customizable trading strategy.
Key Features:
Customizable Parameters: Users can define the number of consecutive higher and lower closings needed to generate buy and sell signals, providing a tailored approach to trading.
Clear Buy and Sell Signals: The indicator plots clear buy and sell signals directly on the chart, making it easy for traders to identify potential entry and exit points.
Usage:
Consecutive Higher Closings (Buy Signal): When the current closing price is higher than the previous closing price for the specified number of consecutive periods (as defined by the user), a buy signal will be generated.
Consecutive Lower Closings (Sell Signal): When the current closing price is lower than the previous closing price for the specified number of consecutive periods (as defined by the user), a sell signal will be generated.
How to Use:
Apply the Consecutive Higher/Lower Closings indicator to your chart.
Adjust the input parameters, consecutiveHigherClosings and consecutiveLowerClosings, to match your preferred trading strategy. These parameters determine the number of consecutive higher and lower closings needed to trigger signals.
Interpret the buy and sell signals generated by the indicator. When a buy signal is displayed (green triangle up), it suggests a potential entry point. Conversely, a sell signal (red triangle down) indicates a potential exit point.
Important Note:
This indicator is designed to assist traders in making informed decisions, but it should be used in conjunction with other technical analysis tools and risk management strategies for a comprehensive trading approach.
Kindly be aware that this strategy is most effective with Monster stocks with smooth price action, particularly when analyzing in weekly and/or daily timeframe.
Disclaimer:
Trading involves risk, and past performance does not guarantee future results. Always conduct thorough research and consider your risk tolerance before making trading decisions.
Kiss Of DeathThis Pine Script code is designed to create a technical indicator on a TradingView chart known as the "Kiss of Death" signal. Here's a description of the script:
The script begins by specifying that it is intended for use with Pine Script version 5 (//@version=5) and sets the indicator's title to "Kiss of Death Signal" with indicator(title="Kiss of Death Signal", overlay=true).
The code calculates a 21-period Exponential Moving Average (EMA) of the closing prices (ema21 = ta.ema(close, 21)). The EMA is a commonly used trend-following indicator.
It also determines the lowest low of the previous two periods (prev_low = ta.lowest(low, 2)). This variable will be used in the signal condition.
The script then defines the signal condition for the "Kiss of Death" pattern. This pattern occurs when:
The current closing price is below the 21-period EMA (close < ema21).
The previous closing price is above or equal to the 21-period EMA (close >= ema21).
The current low is below the lowest low of the previous two periods (low < prev_low).
Next, it uses plot to display the 21-period EMA on the chart (plot(ema21, color=color.blue, title="21 EMA")), using a blue color.
Finally, the script utilizes plotshape to mark the points on the chart where the "Kiss of Death" signal condition is met. It places a red, downward-pointing triangle above the corresponding bars
In summary, this script provides a visual representation of the "Kiss of Death" signal on a TradingView chart, helping traders identify potential bearish reversal points based on the defined conditions. The 21-period EMA is also displayed to provide additional context.
What makes this script unique is that it specifically identifies and visualizes a specific technical pattern known as the "Kiss of Death". The "Kiss of Death" is a bearish reversal pattern that occurs when the current price falls below a specific moving average (in this case, a 21-period Exponential Moving Average or EMA) after previously being above it, and when the current low is below the lowest low of the previous two periods.
This script stands out because it provides a clear and visual representation of this particular pattern on a TradingView chart. By using a red, downward-pointing triangle above the bars, it helps traders quickly identify potential bearish reversal points based on the defined conditions.
The combination of a specific pattern, in this case the "Kiss of Death", along with a visual indicator, sets this script apart and makes it a useful tool for traders looking to identify potential bearish reversal points in their technical analysis.
MACD Strategy_baskerMACD Strategy_basker, which will see the macd cross over and update buy sell. then do trailing sl
Harmonic PatternsHarmonic Patterns
Harmonic Pattern utilizes the recognition of specific structures that possess distinct and consecutive Fibonacci ratio alignments that quantify and validate harmonic patterns. These patterns calculate the Fibonacci aspects of these price structures to identify highly probable reversal points in the financial markets. This methodology assumes that harmonic patterns, like many patterns and cycles in life, continually repeat.
Input Parameters:
Zigzag Setup:
These group of parameters are used to identify the swing points. The script also draws the Zigzag line and swing labels based on these parameters.
Harmonic Pattern Setup:
Ignore XD leg calculations – Optionally one can choose to ignore the XD leg calculation.
Fixed value leg offset % - Fixed value leg parameters are such parameters where single value Fibonacci value is used. This makes pattern identification very rare. To overcome this one can input % value which would be used to derive the range of Fibonacci numbers for pattern identification. E.g. XD leg in Bat pattern has fixed leg of 88.6%, If we input 5% as fixed value leg offset % then instead of fixed value of 88.6%, script calculates range as 88.6% + 5% (Value 1) and 88.6% - 5% (Value 2) and uses the same for pattern identification.
The script plots a diamond shape label on the last candle of the chart. The label has been enabled with a tooltip which shows number of patterns of each type along with the time where latest pattern is located.
This script covers harmonic patterns listed in the table below. Each harmonic pattern has bullish and bearish variants. All these patterns have 4 legs known as XABCD.
The Patterns have been configured as specified in the table below. Refer to Figure 1 and Figure 2 to understand how to read and interpret the table.
Figure 1
Figure 2
Dip & Rip Patterns - The Quant Science🇺🇸
GENERAL OVERVIEW
This indicator detects Dip and Rip patterns by quickly highlighting them on the chart.
These patterns have become popular during the pandemic period mainly in the stock, ETF and cryptocurrency markets on which traders use two interesting strategies:
Buy The Dip
Sell The Rip
Before going into the merits of this technical indicator, let's understand what these two patterns mean and what they identify precisely.
Rip (Rise In Price) : wants to identify a market condition in which the price rises rapidly, for example from $100 to $110 in a few minutes or hours.
Dip (Drop In Price) : wants to identify a market condition in which the price drops rapidly, for example from $100 to $90 in a few minutes or hours.
HOW TO USE
For a better user experience, we recommend choosing a neutral colour for the candles while analysing with this indicator. You can quickly change the colour in Chart Settings > Symbol > Candles .
Depending on the configuration set by the user, the indicator will show Dip (Dip In Price) patterns in red and Rip (Rise In Price) patterns in green.
When the pattern forms, a circle will be displayed and a vertical line will be coloured on the chart along with the body of the candle. The user will then be able to quickly and easily track the configured market conditions.
In this example, we decided to use a 4H timeframe on the BTC/USDT pair (Binance).
Set in the user interface:
Period: 20
Dip (%): -25
Rip (%): 20
Price falls by 25% or more in 80 hours (Dip Pattern).
Price rise by 25% or more in 80 hours (Rip Pattern).
The user can easily configure the parameters via the user interface in the Inputs section (A) and change the indicator design in the Properties section (B).
🇮🇹
PANORAMICA GENERALE
Questo indicatore rileva i Dip e Rip patterns evidenziandoli velocemente sul grafico.
Questi patterns sono diventati famosi durante il periodo pandemico principalmente nel mercato delle azioni, ETF e Criptovalute su cui i trader utilizzano due interessanti strategie:
Buy The Dip
Sell The Rip
Prima di entrare nel merito di questo indicatore tecnico, comprendiamo il significato di questi due pattern e cosa identificano precisamente.
Rip (Rise In Price) : vuole identificare una condizione di mercato in cui il prezzo sale rapidamente, per esempio passando da 100$ a 110$ in pochi minuti o poche ore.
Dip (Drop In Price) : vuole identificare una condizione di mercato in cui il prezzo cala rapidamente, per esempio passando da 100$ a 90$ in pochi minuti o poche ore.
UTILIZZO
Per una migliore esperienza utente consigliamo di scegliere un colore neutro per le candele mentre si analizza con questo indicatore. Puoi cambiare velocemente il colore in Chart Settings > Symbol > Candles .
In base alla configurazione impostata dall'utente l'indicatore mostrerà in rosso i pattern Dip (Dip In Price) e in verde i pattern Rip (Rise In Price).
Quando il pattern si forma verrà visualizzato un cerchio e una linea verticale sul grafico che sarà colorata insieme al corpo della candela. L'utente quindi potrà tracciare facilmente e velocemente le condizioni di mercato configurate.
In questo esempio abbiamo deciso di utilizzare un timeframe 4H con l'obbiettivo di ricercare i patterns sul pair BTC/USDT (Binance).
Impostiamo nell'interfaccia utente:
Period: 20
Dip (%): -25
Rip (%): 20
Il prezzo diminuisce del 25% o più in 80 ore (Dip Pattern).
Il prezzo aumenta del 25% o più in 80 ore (Rip Pattern).
L' utente può configurare facilmente i parametri attraverso l'interfaccia utente nella sezione Inputs (A) e modificare il design dell'indicatore nella sezione Properties (B).
Bull Vs Bear Visible Range VP [Kioseff Trading]Hello!
This Script “Bull vs Bear Visible Range VP” Calculates Bull & Bear Volume Profiles for the Visible Range Alongside a Delta Ladder for the Visible Period!
Features
Volume Profile Anchored to Visible Range
Delta Ladder Anchored to Visible Range
Bull vs Bear Profiles!
Standard Poc and Value Area Lines, in Addition to Separated POCs and Value Area Lines for Bull Profiles and Bear Profiles
Configurable Value Area Target
Curved Profiles
Up to 9999 Profile Rows per Visible Range
Stylistic Options for Profiles
This Script Generates Bull vs. Bear Volume Profiles for the Visible Range!
Up to 9999 Volume Profile Levels (Price Levels) Can Be Calculated for Each Profile, Thanks to the New Polyline Feature, Allowing For Less Aggregation / More Precision of Volume at Price and Volume Delta.
Bull vs Bear Profiles
The Image Above Shows Primary Functionality!
Green Profiles = Buying Volume
Red Profiles = Selling Volume
Bullish & Bearish Pocs for the Visible Range Are Displayable!
Profiles Can Be Anchored on the Left Side for a More Traditional Look.
The indicator is robust enough to calculate on "small price periods", or for a price period spanning your entire chart fully zoomed out!
That’s About It :D
This Indicator Is Part of a Series Titled “Bull vs. Bear” - A Suite of Profile-Like Indicators I Will Be Releasing Over Coming Days. Thanks for Checking This Out!
If You Have Any Suggestions Please Feel Free to Share!
Spongebob [TFO]This Spongebob indicator is an experiment with the newly released polyline drawing features in Pine Script. As someone that enjoys a challenge, I thought of a complex subject to draw with polylines, and Spongebob was one of the first things that came to mind due to his wavy body shape. Although, other features like the shoulders, shoes, and hands proved to be much more difficult than the body shape itself.
With this indicator enabled, Spongebob will be automatically be drawn on the last confirmed bar of the current chart, and should mostly auto-fit to any symbol's price axis through use of the Average True Range (ATR) function. ATR allows us to get the average range of the most recent bars (in this case I used 50 bars). I used this as a base value from which to scale and determine various heights of each body shape, like the radius of the eyes, the length of the pants, etc. - that way, it would scale to any price axis, from forex to index futures.
Attached is a picture of the indicator (left) compared to my subject reference (right). I'm honestly surprised at how well it came out, and how intuitive it was to form the majority of my shapes using polylines. I'm really happy with how this project turned out, and may have to attempt more drawings in the future!
3 TIMEFRAMES BOXES3 boxes, with their recent high/low and their respective open/close, and the 50% line of the high/low. All adjustable for preferred timeframes, colour and thickness.
My personal preference is previous week 00:00 to 00:00, yesterday 00:00 to 00:00, and the day before 00:00 to 00:00 (NY timezone). Another could be the London, NY, and Asian sessions (which you have to manually place the timeframes for). As said, you can adjust it completely to your own liking. Enjoy!
ICT NWOG/NDOG [Source Code] (fadi)New Week Opening Gap (NWOG) and New Day Opening Gap (NDOG) are areas on the chart where price tend to react to and has the potential of moving from one gap to the next. These gaps can act as support and resistance zones where price can bounce of, or go through and retest. Areas of interest are the high, low, the Consequent Encroachment (C.E.), which is the middle between high and low of each gap.
Event Horizon is the 50% distance between two NWOGs and price tend to react to, and could act as Premium/ Discount between two NWOGs.
New Week Opening Gap (NWOG)
The difference between Friday close, and Sunday open. Consequent Encroachment (C.E.) is the area between two NWOGs.
Settings NWOG
- The Colors in the form of Current/Previous and line style for NWOG
- Background color to use for Current/Previous
- Number of NWOGs to use by the indicator (ICT recommends using minimum of 5)
- Extend Configuration:
-- Always Extend all NWOGs
-- Above and below only Shows the immediate two NWOGs that are above and below current price. These two NWOGs are recalculated as price moves
-- Any that is near current price Any NWOG that is near the current price, this can result in multiple NWOGs being displayed, with some overlapping
- Event Horizon only applicable when using the "Above and below only settings"
-- Show Date label and type of gap
New Day Opening Gap (NDOG)
The difference between Yesterday's close and Today's open.
Settings NDOG
- The Colors in the form of Current/Previous and line style for NDOG
- Background color to use for Current/Previous
- Number of NDOGs to use by the indicator, default is 1 but price tend to react to previous ones as well
- Extend Configuration:
-- Always Extend all NDOGs
-- Above and below only Shows the immediate two NDOGs that are above and below current price. These two NDOGs are recalculated as price moves
-- Any that is near current price Any NDOG that is near the current price, this can result in multiple NDOGs being displayed, with some overlapping
-- Show Date label and type of gap
Other Settings
Number of candles to use in calculation is used to calculate the size of the candles in order to derive the distance from current price. If current candle sizes is more important than over longer period of time then use 14 or near that number
Factor multiplier for distance test is the number above times X value. Lower timeframes require a higher number than a larger timeframe. If day trading, a value between 10 and 20 is probably best. If swing trading, a value between 5 and 10 is probably best.
Buffer How many candles beyond current price to extend the gaps by. this is helpful to provide cleaner view of the price action
Harmonic Pattern Table Inputs█ OVERVIEW
This indicator was intended as educational purpose only based on Harmonic Pattern Table (Source Code) .
Some user have different ratios in mind, thus I add input to allow user to change those ratios.
█ CREDITS
Scott M Carney, Trading Volume 3: Reaction vs. Reversal
█ CREDITS
1. List Harmonic Patterns.
2. Font size small for mobile app and font size normal for desktop.
3. Font color does automatically change follow dark / light chart theme.
4. Inputs to change ratio values.
█ USAGE / EXAMPLES
Session Breakout/Sweep with alertsThis indicator is based on popular London breakout strategy. but as I noticed that it don't work good with breakouts so I made it to be used as reversal entries as well. By default the timing is set for asian session but you can change it according to your need.
Use as breakout
Use as liquidity sweep
Note:
On some pairs the timing changes automatically (I don't know why), if you face this issue , go to settings and set the timing accordingly and save it as templet so that you don't have to change it every time you load the chart with timing issue.
I hope you guys find it useful. Do share your though and feedback in comments.
Top and Bottom Identifier [digit23]This indicator is designed to identify potential market tops and bottoms based on customizable conditions. It employs price action analysis, considering candlestick patterns, body size, and recent price history. Traders can adjust parameters like the threshold multiplier and body size multiplier to fine-tune sensitivity.
Features:
Identifies potential tops and bottoms.
Customizable threshold and body size multipliers.
Utilizes price action analysis exclusively.
User-friendly and visually represented on the chart.
Usage:
Red Triangles: Indicate potential market tops.
Green Triangles: Indicate potential market bottoms.
Parameters:
Threshold Multiplier: Adjusts sensitivity.
Body Size Multiplier: Controls the significance of candlestick body size.
Note:
This indicator is for traders preferring price action analysis to identify potential reversals. It's recommended to use alongside other technical analysis tools for comprehensive trading decisions.
Disclaimer:
Trading involves risk; thorough analysis is crucial before making decisions. This indicator is a tool for technical analysis and should be part of a broader trading strategy.
PhantomFlow RangeDetectorPhantomFlow RangeDetector analyzes the current price action of the market and draws ranges depending on the minimum number of bars in the zone of one candle you specify. Each range is colored depending on the closing direction of the candle outside this range. Accordingly, in trend trading, it is advisable to look for long trades from the green zones, and short trades from the red zones (with standard color settings).
If you have a basic understanding of the market context, you can consider such zones in a mirror retest to find trades with higher RR.
Engulfing with TrendThe script above is a trading strategy with rules based on the Engulfing candlestick pattern within the context of the trend. Some key elements of this script include:
1. ATR (Average True Range) settings to measure market volatility.
2. Supertrend settings to identify the market trend.
3. Conditions for determining uptrend and downtrend.
4. Determination of Bullish (Engulfing pattern during uptrend) and Bearish (Engulfing pattern during downtrend).
5. Calculation of Stop Loss (SL) and Take Profit (TP) levels based on the Engulfing pattern.
6. Entry conditions based on the Engulfing pattern and the corresponding trend.
7. Exit conditions based on price crossovers with SL and TP levels.
8. Plotting of the Engulfing patterns on the chart.
This strategy is used to identify trading opportunities based on Engulfing candlestick patterns that align with the direction of the market trend. Additionally, stop loss and take profit levels are calculated based on the Engulfing pattern, and trading signals are displayed on the chart.
It's important to note that this script can be customized according to your trading preferences and strategy.
Z Score CANDLE and Exciting candle signal [DJ D]This script paints candles when their zscore reaches above 2 standard deviations in price from the mean. The blue candle represents up candle above 2. Magenta candle below -2. The candles can signal the beginning of a move and also importantly exhaustion.
The script also signals when a candle has volatility above 6. The higher the sensitivity the less frequent it will paint. These are real time paints and signals. You can adjust for higher time frames by adjusting the length of the z score and adjust the sensitivity of the volatility candles.
The yellow candle is a mean candle and can signify consolidation and/or indecision. Drawing a Darvis type box around around mean candles can give you a zone to watch.
These settings are for 1 minute scalping. The volatility sensitivity range between 1- 2 is good for 15, 30, (ie 1.0 or 1.2) and your discretion....
NormInvTargetSeekerNormInvTargetSeeker
The NormInvTargetSeeker is a trading tool designed to aid traders in identifying and capitalizing on Distribution and Accumulation zones, highlighting specific price levels that could serve as targets for future price movements. Although the indicator itself is not multi-timeframe, an effective trading strategy might involve signal validation across multiple timeframes.
🔶 USAGE
The indicator identifies Distribution and Accumulation zones, providing potential targets for future price moves.
Traders are encouraged to use these zones as profit targets or potential reversal points.
Confluence Zones
These zones are identified as regions where various factors or levels converge, signaling an increased probability of price reaction.
They can be used to reinforce signals or identify levels where price might encounter significant resistance or support.
🔹 Trading Strategy
First, identify a signal on your primary trading timeframe.
Manually check higher timeframes to ensure the signal aligns with them.
Use the identified zones, whether Distribution or Accumulation, as target zones for your trades.
🔶 Order Blocks
The NormInvTargetSeeker identifies "Order Blocks" by examining a specified number of consecutive candles with a specific condition: the current candle must completely engulf the previous candle. This means that both the high and low of the current candle are higher and lower, respectively, than the high and low of the previous candle, signifying a dominant move in the direction of the current candle.
🔹 Trading Strategy
Target Confirmation: Order Blocks can serve to confirm target points, providing additional validation for identified levels.
Market Insight: They offer crucial insights into whether "big hands" or institutional players are positioned as buyers or sellers in the market.
Traders can use Order Blocks as a means to validate targets or key price levels, observing if the price reacts significantly upon reaching these blocks.
They can also provide insights into the general market direction or underlying market strength by identifying where the major market players are placing their orders.
🔶 SETTINGS
The indicator allows users to adjust various parameters to customize the display and logic of the tool to fit their needs.
🔹 Display Settings
Users can customize the colors and displays of various zones and labels to match their preferences.
🔶 LICENSE AND CREDITS
This work is licensed under Attribution-NonCommercial-ShareAlike 4.0 International (CC BY-NC-SA 4.0). More information here: creativecommons.org
This indicator utilizes a TypeScript implementation of the Normal Inverse function as a reference, which can be found here : github.com
Special thanks to the authors of the referenced code for providing a foundation upon which this indicator was built.
🔶 UPDATES
Current Version: 1.0.0
For future updates, please check the comment section.
🔶 CONTACT
For any questions or suggestions, please feel free to contact @RickSimpson on TradingView.
Market Structure [TFO]The purpose of this indicator is to provide a simple approach to Market Structure. When price is closing over swing highs, we may categorize that as bullish structure; and when price is closing below swing lows, we may categorize that as bearish structure.
We can easily find swing highs and lows via the following built-in Pine Script functions:
ta.pivothigh()
ta.pivotlow()
We can pass in our Pivot Strength parameter to determine the size/significance of these pivots. The lowest value of 1 will validate a swing high when a given high is larger than that of 1 bar to the left and right of it. A pivot strength of 3, for example, would validate a swing high only when a high is larger than that of the 3 bars to the left and right of it, making it much more selective.
In any case, we can simply track the most recent swing highs and lows and check for when price through them. Enabling the Show Pivots option will mark all the swing highs and lows that are being considered for future structure breaks.
If the trend is bearish and we begin closing over swing highs, that would mark a Market Structure Shift (MSS). If the trend is already bullish and we are closing over swing highs, that would mark a Break of Structure (BOS), and vice versa for bearish conditions. MSS essentially signifies reversals in Market Structure while BOS signifies continuations.
Users may also create alerts for Any/Bull/Bear BOS or MSS. Simply create a new alert, select this indicator, and select the desired BOS or MSS criteria.
Liquidity Hunter [ChartPrime]The Liquidity Hunter helps traders identify areas in the market where reversals may occur by analyzing candle formations and structures.
█ Wick-to-Body Analysis:
The Liquidity Hunter analyses each candlestick to identify those with distinctive wick-to-body ratios. By focusing on candles with significant wick imbalances, it can reveal potential liquidity absorption zones that may influence market behavior. Users can fine-tune this ratio to their preferences through customizable body% and wick% inputs, allowing for tailored analysis.
█ Body Size Significance:
To ensure the relevance and impact of its findings, this indicator evaluates the size of the candle body.
Only candles with bodies meeting a certain size threshold are considered, eliminating noise and highlighting candles of significance.
█ Dynamic Target Setting:
The Liquidity Hunter employs the Average True Range (ATR) as a foundation for target calculation. Users can adjust their trading targets by specifying a multiplier, offering flexibility in capturing potential profit or managing risk. Customizable target inputs ensure adaptability to your trading strategy.
█ Stop Loss Protection:
In addition to setting your profit targets, the Liquidity Hunter incorporates stop loss levels, safeguarding your investments from excessive risk. By implementing a well-balanced risk-reward ratio, users may be better at navigating market fluctuations.
█ Market Character Labels:
The Liquidity Hunter Indicator goes beyond basic analysis by detecting changes in market character. It identifies shifts in sentiment providing traders with invaluable insights into evolving market conditions.
█ Candle Color Highlighting:
To enhance user-friendliness and visualization, the indicator employs distinctive candle colors between trades. These color cues help you easily spot and interpret trading opportunities, drawing your attention to potential entry and exit points.
Overall this indicator is designed to help simplify liquidity analysis and give visual targets in a market.
IPDA Standard Deviations [DexterLab x TFO x toodegrees]> Introduction and Acknowledgements
The IPDA Standard Deviations tool encompasses the Time and price relationship as studied by @TraderDext3r .
I am not the creator of this Theory, and I do not hold the answers to all the questions you may have; I suggest you to study it from Dexter's tweets, videos, and material.
This tool was born from a collaboration between @TraderDext3r, @tradeforopp and I, with the objective of bringing a comprehensive IPDA Standard Deviations tool to Tradingview.
> Tool Description
This is purely a graphical aid for traders to be able to quickly determine Fractal IPDA Time Windows, and trace the potential Standard Deviations of the moves at their respective high and low extremes.
The disruptive value of this tool is that it allows traders to save Time by automatically adapting the Time Windows based on the current chart's Timeframe, as well as providing customizations to filter and focus on the appropriate Standard Deviations.
> IPDA Standard Deviations by TraderDext3r
The underlying idea is based on the Interbank Price Delivery Algorithm's lookback windows on the daily chart as taught by the Inner Circle Trader:
IPDA looks at the past three months of price action to determine how to deliver price in the future.
Additionally, the ICT concept of projecting specific manipulation moves prior to large displacement upwards/downwards is used to navigate and interpret the priorly mentioned displacement move. We pay attention to specific Standard Deviations based on the current environment and overall narrative.
Dexter being one of the most prominent Inner Circle Trader students, harnessed the fractal nature of price to derive fractal IPDA Lookback Time Windows for lower Timeframes, and studied the behaviour of price at specific Deviations.
For Example:
The -1 to -2 area can initiate an algorithmic retracement before continuation.
The -2 to -2.5 area can initiate an algorithmic retracement before continuation, or a Smart Money Reversal.
The -4 area should be seen as the ultimate objective, or the level at which the displacement will slow down.
Given that these ideas stem from ICT's concepts themselves, they are to be used hand in hand with all other ICT Concepts (PD Array Matrix, PO3, Institutional Price Levels, ...).
> Fractal IPDA Time Windows
The IPDA Lookbacks Types identified by Dexter are as follows:
Monthly – 1D Chart: one widow per Month, highlighting the past three Months.
Weekly – 4H to 8H Chart: one window per Week, highlighting the past three Weeks.
Daily – 15m to 1H Chart: one window per Day, highlighting the past three Days.
Intraday – 1m to 5m Chart: one window per 4 Hours highlighting the past 12 Hours.
Inside these three respective Time Windows, the extreme High and Low will be identified, as well as the prior opposing short term market structure point. These represent the anchors for the Standard Deviation Projections.
> Tool Settings
The User is able to plot any type of Standard Deviation they want by inputting them in the settings, in their own line of the text box. They will always be plotted from the Time Windows extremes.
As previously mentioned, the User is also able to define their own Timeframe intervals for the respective IPDA Lookback Types. The specific Timeframes on which the different Lookback Types are plotted are edge-inclusive. In case of an overlap, the higher Timeframe Lookback will be prioritized.
Finally the User is able to filter and remove Standard Deviations in two ways:
"Remove Once Invalidated" will automatically delete a Deviation once its outer anchor extreme is traded through.
Manual Toggles will allow to remove the Upward or Downward Deviation of each Time Window at the discretion of the User.
Major shoutout to Dexter and TFO for their Time, it was a pleasure to collaborate and create this tool with them.
GLGT!
Bullish vs. Bearish Candle CounterFollowing an exhaustive analysis of the most recent 50,000 candles within a given currency pair, a notable equilibrium between bearish and bullish candles has emerged as a persistent market phenomenon. This equilibrium, indicative of the market's continuous endeavor to establish parity, has spurred the development of the following indicator.
The indicator meticulously scrutinizes the preceding 100 candles, promptly triggering an on-chart marker when either bullish or bearish candle counts surpass the threshold of 60%. This marker serves as an invaluable tool, providing traders with a potential signal for the initiation of a trend reversal.
As such, this indicator serves as a valuable asset in a trader's toolkit, offering insights into shifts in market sentiment and the prospect of emerging trends.
Key Features:
- Customizable Candle Count: Traders can set the number of candlesticks to be analyzed in the input parameters, allowing flexibility in their analysis.
- Bullish and Bearish Percentage: Users can define their desired percentage for both bullish and bearish candles in the indicator's settings. The indicator calculates the percentage of each candle type within the specified range.
- Arrow Signals: The indicator plots arrows above or below the current candle, indicating bullish or bearish conditions based on the defined percentage thresholds. A green arrow signifies bullish sentiment, while a red arrow denotes bearish sentiment.
How to Use:
- Adjust Parameters: In the indicator settings, users can customize the number of candlesticks to be analyzed, as well as set their preferred percentages for both bullish and bearish conditions.
- Interpret Arrows: The indicator generates arrows above or below the current candle, reflecting the prevailing market sentiment. A green arrow suggests a bullish bias, while a red arrow indicates a bearish bias.
- Trade with Confidence: Traders can use this indicator as a tool to gauge market sentiment and make informed trading decisions. It helps identify potential entry and exit points based on the chosen percentage thresholds.
