JMA Quantum Edge: Adaptive Precision Trading System JMA Quantum Edge: Adaptive Precision Trading System - Enhanced Visuals & Risk Management
Get ready to experience a groundbreaking trading strategy that adapts in real-time to market conditions! This powerful, open-source script combines advanced technical analysis with state-of-the-art risk management tools, designed to give you the edge you need in today's dynamic markets.
What It Does:
Adaptive JMA Indicator:
Utilizes a custom Jurik Moving Average (JMA) that adjusts its sensitivity based on market volatility, ensuring you get precise signals even in the most fluctuating environments.
Dynamic Risk Management:
Features built-in support for partial exits (scaling out) to secure profits, along with an optional Kelly Criterion-based position sizing that tailors your exposure based on historical performance metrics.
Robust Error Handling:
Incorporates market condition filters—like minimum volume and maximum allowed gap percentage—to ensure trades are only executed under favorable conditions.
Vivid Visual Enhancements:
Enjoy an animated background that reflects market momentum, dynamic pivot markers, and clearly drawn trend channels. Plus, interactive tables provide real-time performance analytics and detailed error metrics.
Fully Customizable:
With a comprehensive set of inputs, you can easily tailor the strategy to your personal trading style and market preferences. Adjust everything from JMA parameters to refresh intervals for tables and labels!
How to Use It:
Add the Script:
Copy and paste the script into the Pine Script Editor on TradingView and click “Add to Chart.”
Configure Your Settings:
Customize your risk management (capital, commission, position sizing, partial exits, etc.) and tweak the JMA settings to match your preferred trading style. Use the extensive input panel to adjust visuals, alerts, and more.
Backtest & Optimize:
Run the strategy in the Strategy Tester to analyze its historical performance. Monitor real-time analytics and error metrics via the interactive tables, and fine-tune your parameters for optimal performance.
Go Live with Confidence:
Once you're satisfied with the backtest results, use the generated signals for live trading, and let the system help you stay ahead in fast-paced markets!
How to use the imputs:
This cutting-edge strategy is designed to adapt to changing market conditions and offers you complete control over your trading parameters. Here’s a breakdown of what each group of inputs does and how you should use them:
Risk Management & Trade Settings
Recalculate on Every Tick:
What it does: When enabled, the strategy recalculates on every price update.
Recommendation: Leave it true for fast charts.
Initial Capital:
What it does: Sets your starting capital for backtesting, which influences position sizing and performance metrics.
Recommendation: Start with $10,000 (or adjust according to your trading capital).
Commission (%):
What it does: Simulates the cost per trade.
Recommendation: Use a realistic rate (e.g., 0.04%).
Position Size & Quantity Type:
What they do: Define how large each trade will be. Choose between a fixed unit amount or a percentage of equity.
Recommendation: For beginners, the default fixed value is a good start. Experiment later with percentage-based sizing if needed.
Order Comment:
What it does: Adds a label to your orders for easier tracking.
Allow Reverse Orders:
What it does: If disabled, the strategy will close opposing positions before entering a new trade, reducing conflicts.
Enable Dynamic Position Sizing:
What it does: Adjusts trade size based on current volatility.
Recommendation: Beginners may start with this disabled until they understand basic sizing.
Partial Exit Inputs:
What they do:
Enable Partial Exits: When turned on, you can scale out of your position to lock in profits.
Partial Exit Profit (%): The profit percentage that triggers a partial exit.
Partial Exit Percentage: The percentage of your current position to exit. Recommendation: Use defaults (e.g., 5% profit, 50% exit) to secure profits gradually.
Kelly Criterion Option:
What it does: When enabled, adjusts your position sizing using historical performance (win rate and profit factor).
Recommendation: Beginners might leave this disabled until comfortable with backtest performance metrics.
Market Condition Filters:
What they do:
Minimum Volume: Ensures trades occur only when there’s sufficient market activity.
Maximum Gap (%): Prevents trading if there’s an unusually large gap between the previous close and current open. Recommendation: Defaults work well for most markets. If trades seem erratic, consider tightening these limits.
JMA Settings
Price Source:
What it does: The input series for the JMA calculation, typically set to the closing price.
JMA Length:
What it does: Controls the smoothing period of the JMA. Lower values are more sensitive; higher values smooth out the noise. Recommendation: Start with 21.
JMA Phase & Power:
What they do: Adjust how responsive the JMA is. Phase controls timing; power adjusts the intensity. Recommendation: Default settings (63 phase and 3 power) are a balanced starting point.
Visual Settings & Style
Show JMA Line, Pivot Lines, and Pivot Labels:
What they do: Toggle visual elements on your chart for easier signal identification.
Pivot History Count:
What it does: Limits how many historical pivot markers are displayed.
Color Settings (Up/Down Neon Colors):
What they do: Set the visual cues for buy and sell signals.
Pivot Marker & Line Style:
What they do: Choose the style and thickness of your pivot markers and lines.
Show Stats Panel:
What it does: Displays real-time performance and error metrics.
Dynamic Background & Visual Enhancements
Animate Background:
What it does: Changes the background color based on market momentum.
Show Trend Channels & Volume Zones:
What they do: Draw trend channels and highlight areas of high volatility/volume.
Show Data-Rich Labels:
What it does: Displays key metrics like volume, error percentage, and momentum on the chart.
High Volatility Threshold:
What it does: Determines the multiplier for when the chart background should change due to high volatility.
Multi-Timeframe Settings
Higher Timeframe:
What it does: Uses a higher timeframe’s JMA for trend confirmation. Recommendation: Use Daily ('D') or Weekly ('W') for broader trend analysis.
Show HTF Trend Zone & Opacity:
What they do: Display a visual zone from the higher timeframe to help confirm trends.
6. Trailing Stop Settings
Trailing Stop ATR Factor & Offset Multiplier:
What they do: Calculate trailing stops based on the Average True Range (ATR), adjusting stop distances dynamically. Recommendation: Default settings are a good balance but can be fine-tuned based on asset volatility.
Alerts & Notifications
Alerts on Pivot Formation & JMA Crossover:
What they do: Notify you when key events occur.
Dynamic Power Threshold:
What it does: Sets the sensitivity for dynamic alerts.
8. Static Stop Loss / Take Profit
Static Stop Loss (%) & Take Profit (%):
What they do: Allow you to set fixed stop loss or take profit levels. Recommendation: Leave them at 0 to disable if you prefer dynamic risk management, or set them if you have strict risk/reward preferences.
Advanced Settings
ATR Length:
What it does: Determines the period for ATR calculation, impacting trailing stop sensitivity. Recommendation: Start with 14.
Optimization Feedback & Enhanced Error Analysis
Error Metric Length & Error Threshold (%):
What they do: Calculate error metrics (like average error, skewness, and kurtosis) to help you fine-tune the JMA. Recommendation: Use the defaults and adjust if the error metrics seem off during backtesting.
UI - User-Driven Tweaking & Table Customization
Parameter Tweaker Panel, Debug/Performance Table Settings:
What they do: Provide interactive tables that display real-time performance, error metrics, and allow you to monitor strategy parameters.
Refresh Frequency Options (Table & Label Refresh Intervals):
What they do: Set how often the tables and labels update.
Recommendation: Start with an interval of 1 bar; increase it if your chart is too busy.
Important for Beginners:
Default Settings:
All default values have been chosen for balanced performance across different markets. If you ever experience unexpected behavior, start by resetting the inputs to their defaults.
Step-by-Step Adjustments:
Experiment by changing one setting at a time while observing how the strategy’s signals and performance metrics change. This will help you understand the impact of each parameter.
Resetting to Defaults:
If things seem off or you’re not getting the expected results, you can always reset the indicator. Either reload the script or use the “Reset Inputs” option (if available) to revert to the default settings.
Jump in, experiment, and enjoy the power of adaptive precision trading. This strategy is built to grow with your skills—have fun exploring and refining your trading edge!
Happy trading!
Multitimeframe
MTF Support & Resistance📌 Multi-Timeframe Support & Resistance (MTF S&R) Indicator
🔎 Overview:
The MTF Support & Resistance Indicator is a powerful tool designed to help traders identify critical price levels where the market is likely to react. This indicator automatically detects support and resistance zones based on a user-defined lookback period and extends these levels dynamically on the chart. Additionally, it provides multi-timeframe (MTF) support and resistance zones, allowing traders to view higher timeframe key levels alongside their current timeframe.
Support and resistance levels are crucial for traders as they help in determining potential reversal points, breakout zones, and trend continuation signals. By incorporating multi-timeframe analysis, this indicator enhances decision-making by providing a broader perspective of price action.
✨ Key Features & Benefits:
✅ Automatic Support & Resistance Detection – No need to manually plot levels; the indicator calculates them dynamically based on historical price action.
✅ Multi-Timeframe (MTF) Levels – Enables traders to see higher timeframe S&R levels on their current chart for better trend confirmation.
✅ Customizable Lookback Period – Adjust sensitivity by modifying the number of historical bars considered when calculating support and resistance.
✅ Color-Coded Visualization –
Green Line → Support on the current timeframe
Red Line → Resistance on the current timeframe
Dashed Blue Line → Higher timeframe support
Dashed Orange Line → Higher timeframe resistance
✅ Dynamic Extension of Levels – Levels extend left and right for better visibility across multiple bars.
✅ Real-Time Updates – Automatically refreshes as new price data comes in.
✅ Non-Repainting – Ensures reliable support and resistance levels that do not change after the bar closes.
📈 How to Use the Indicator:
Identify Key Price Levels:
The green line represents support, where price may bounce.
The red line represents resistance, where price may reject.
The blue dashed line represents support on a higher timeframe, making it a stronger level.
The orange dashed line represents higher timeframe resistance, helping identify major breakout zones.
Trend Trading:
Look for price action around these levels to confirm breakouts or reversals.
Combine with trend indicators (like moving averages) to validate trade entries.
Range Trading:
If the price is bouncing between support and resistance, consider range trading strategies (buying at support, selling at resistance).
Breakout Trading:
If the price breaks above resistance, it could indicate a bullish trend continuation.
If the price breaks below support, it could signal a bearish trend continuation.
⚙️ Indicator Settings:
Lookback Period: Determines the number of historical bars used to calculate support and resistance.
Show Higher Timeframe Levels (MTF): Enable/disable MTF support and resistance levels.
Extend Bars: Extends the drawn lines for better visualization.
Support/Resistance Colors: Allows users to customize the appearance of the lines.
⚠️ Important Notes:
This indicator does NOT generate buy/sell signals—it serves as a technical tool to improve trading analysis.
Best Used With Other Indicators: Consider combining it with volume, moving averages, RSI, or price action strategies for more reliable trade setups.
Works on Any Market & Timeframe: Forex, stocks, commodities, indices, and cryptocurrencies.
Use Higher Timeframe Levels for Stronger Confirmations: If a higher timeframe support/resistance level aligns with a lower timeframe level, it may indicate a stronger price reaction.
🎯 Who Should Use This Indicator?
📌 Scalpers & Day Traders – Identify short-term support and resistance levels for quick trades.
📌 Swing Traders – Utilize higher timeframe levels for position entries and exits.
📌 Trend Traders – Confirm breakout zones and key price levels for trend-following strategies.
📌 Reversal Traders – Spot potential reversal zones at significant S&R levels.
AUrum Electron LevelsBreakout - Pullback - Retrace, strategy and method
Visual on GOLD ( XAUUSD ) - Look and observe - then decide
The basis of analysis is to determine the Break and Closed prices.
If it is above the +0.2% level, follow the direction of the momentum to take a BUY position with a target objective at the +0.8% level and with a risk target at the -0.2% level
If it is below the -0.2% level, follow the direction of the momentum to take a SELL position with a target objective at the -0.8% level and with a risk target at the +0.2% level
Disclaimer:
Do you own Back/Foward test
Do your own research
MTF (multi-timeframe) Moving Average Convergence Divergence MACDI couldn't find a simple but effective multi-timeframe MACD, so I asked ChatGPT.
It works great!
I hope it will be useful to others!
52-Week & 5-Year High/Low with DatesThis indicator is designed to help traders quickly identify key price levels and their historical context by displaying the 52-week high/low and 5-year high/low prices along with their respective dates. It provides a clear visual representation of these levels directly on the chart and in a dashboard table for easy reference.
Key Features
52-Week High/Low:
Displays the highest and lowest prices over the last 252 trading days (approximately 52 weeks).
Includes the exact date when these levels were reached.
5-Year High/Low:
Displays the highest and lowest prices over the last 1260 trading days (approximately 5 years).
Includes the exact date when these levels were reached.
Visual Labels:
High and low levels are marked on the chart with labels that include the price and date.
Dashboard Table:
A table in the top-right corner of the chart summarizes the 52-week and 5-year high/low prices and their dates for quick reference.
Customizable Date Format:
Dates are displayed in the YYYY-MM-DD format for clarity and consistency.
Tri-Fold BB(Trend-Strength)*indicator isn't preset to look as displayed, do so accordingly*
"Tri-Fold BB" is an indicator that utilizes three Bollinger Bands, each of different length as a way to represent trend strength. This allows one to see the trend strength relative to multiple timeframes: short, mid, and long term trend strength. This is helpful because it provides the user with a holistic view of the asset.
How it Works
The indicator is preset to utilizing three different Bollinger Bands with length: 20, 50, and 100. This indicator simply plots the price of an asset relative to its specified Bollinger Band. For an example, if the price of the asset were to surpass its 20BB standard deviations, it would display so accordingly, though from the perspective of lets say... the 100, it may have looked like it barely moved up a standard deviation relative to 100BB because the standard deviations of a 100BB are more spread out.
Its important to view the trend strength from multiple lengths because it allows one to gauge whether the short term trend strength is likely to hold or not. A better way to speculate on asset behavior.
Another way to view this indicator is similar to that of the BB% indicator, except this indicator allows us to view price relative to standard deviations, across multiple timeframes. More holistic, more utility provided.
Basic Understanding:
Each line = Standard Deviation (3 upper, 3 lower)
Mid-Line = Basis relative to BB(20sma, 50sma, 100sma)
If price goes under Basis, that means it crossed below their specified sma(significant bull or bear signal)
I've also added HMA's relative to each BB incase one were to decide in creating some sort of trading strategy with it. I personally don't use them but I understand that it could be helpful to some so I left it in there. If you don't like them then simply deselect them and then save your desired setup as default.
In regard to regular indications of bullish or bearishness, i'd like to add that I use this indicator for the sole purpose of providing an idea of trend strength. I personally am unsure to state that cross overs directly indicate that there is a bull or bear move because I've seen instances where the price of an asset went in a direction contrary to what it 'should' have if we were to use that cross over strategy. Though of course, feel free to use this indicator as desired.
NFP High/Low LevelsThis indicator plots high and low levels with horizontal lines for the last 12 NFP Days
NFP Days are input in the indicator settings
Labels are placed according to the Month and if it is a High or Low price for the NFP Day
Price tracking on each NFP day starts 30 min before market open until market close (0830-1559 EST)
NFP hours are marked at the bottom of the chart to verify the NFP session visually, adjustable in settings
Works for 1H and below timeframes and on Futures
Here is an example of the indicator on NQ1! chart
Blackflag FTS (1H Trailing) + MSB-OB FibThis indicator combines a 1-hour trailing stop system with multi-timeframe Fibonacci retracement levels and ZigZag structure detection to assist traders in identifying trend direction and potential reversal zones.
Features:
✅ 1-Hour Trailing Stop: Uses an ATR-based trailing stop mechanism to track trend direction and dynamic support/resistance.
✅ Multi-Timeframe Approach: The trailing stop is calculated on the 1-hour timeframe, while the ZigZag and Fibonacci retracement levels are based on the 15-minute chart.
✅ ZigZag Structure Detection: Helps filter market swings and trend reversals dynamically.
✅ Fibonacci Levels (0.5 & 0.786): Key retracement levels to watch for price reactions.
✅ Alerts for Key Levels: Get notified when the price crosses important levels (1H trailing stop, Fib 0.5, Fib 0.786).
How It Works:
The trailing stop adapts dynamically based on ATR values and determines trend direction.
ZigZag detection filters out minor price movements to highlight major swing points.
Fibonacci levels are calculated based on ZigZag swings, helping traders spot potential reversal zones.
This tool is useful for trend-following traders, breakout traders, and Fibonacci-based strategies.
Let me know if you'd like any modifications! 🚀
Money Flow Index MTF + Alerts with Candle Opacity & LabelsHow to Use the Money Flow Index MTF + Alerts with Candle Opacity & Labels Indicator
Overview:
This indicator is designed to help you gauge the buying and selling pressure in a market by using the Money Flow Index (MFI). Unlike many momentum oscillators, the MFI incorporates both price and volume, providing a unique perspective on market activity. It is particularly useful when you want to visually assess potential overbought or oversold conditions.
Indicator Components:
Money Flow Index (MFI) Calculation:
The indicator computes the MFI using a user-defined look-back period (default is 14 bars). The MFI is scaled between 0 and 100, where values above 80 typically indicate overbought conditions and values below 20 suggest oversold conditions.
Multi-Timeframe (MTF) Capability:
You can choose to calculate the MFI using either the current chart’s timeframe or a custom timeframe (for example, a 4-hour chart). This flexibility allows you to compare longer-term money flow trends against your primary trading timeframe.
Candle Opacity Based on MFI:
The opacity of the candles on your chart is dynamically adjusted based on the current MFI reading. When the MFI is high (near 100), candles become more opaque; when the MFI is low (near 0), candles appear more transparent. This visual cue can help you quickly spot changes in market momentum.
Visual Labels for Overbought/Oversold Conditions:
When the MFI crosses into the overbought territory, a red label reading “Overbought” is displayed above the high of the bar. Similarly, when it crosses into the oversold territory, a green label reading “Oversold” is placed below the low of the bar. These labels provide an immediate visual alert to potential reversal points or areas of caution.
Alert Conditions:
The script also includes alert conditions for both overbought and oversold signals. You can set up TradingView alerts so that you are notified in real time when the indicator detects these conditions.
Theory Behind the Money Flow Index (MFI):
The Money Flow Index is a momentum oscillator that uses both price and volume to signal the strength behind price moves.
Overbought Conditions: When the MFI is above 80, it suggests that buying pressure is very strong and the asset might be due for a pullback or consolidation.
Oversold Conditions: Conversely, when the MFI falls below 20, selling pressure is high and the asset might be oversold, potentially priming it for a bounce.
Keep in mind that in strong trending markets, overbought or oversold readings can persist for extended periods, so the MFI should be used in conjunction with other technical analysis tools.
Position Management Guidance:
While the indicator is useful for spotting potential overbought and oversold conditions, it is not designed to serve as an automatic signal to completely close a position. Instead, you might consider using it as a guide for pyramiding—gradually adding to your position over several days rather than exiting all at once. This approach allows you to better manage risk by:
Scaling In or Out Gradually: Instead of making one large position change, you can add or reduce your position in increments as market conditions evolve.
Diversifying Risk: Pyramiding helps you avoid the pitfalls of trying to time the market perfectly on a single trade exit or entry.
How to Get Started:
Apply the Indicator:
Add the indicator to your TradingView chart. Adjust the input settings (length, oversold/overbought levels, and resolution) as needed for your trading style and the market you’re analyzing.
Watch the Candles:
Observe the dynamic opacity of your candles. A sudden change in opacity can be a sign that the underlying money flow is shifting.
Monitor the Labels:
Pay attention to the “Overbought” or “Oversold” labels that appear. Use these cues in combination with your broader analysis to decide if it might be a good time to add to or gradually exit your position.
Set Up Alerts:
Configure TradingView alerts based on the indicator’s alert conditions so that you are notified when the MFI reaches extreme levels.
Use as Part of a Broader Strategy:
Remember, no single indicator should dictate your entire trading decision. Combine MFI signals with other technical analysis, risk management rules, and market insights to guide your trades.
Midnight Opening Ranges[TDL]Midnight Opening Range Indicator for TradingView
Description:
The Midnight Opening Range Indicator as taught by Micheal J. Huddleston is a powerful tool designed for traders who want to analyze price action during the critical midnight to 00:30 timeframe. This indicator highlights the opening range for both the current day and previous days, providing valuable insights into market behavior during this specific period. It also calculates and displays deviations from the opening range, as well as allows for custom opening prices to be set, making it highly adaptable to your trading strategy.
Key Features:
Today's Opening Range (00:00 - 00:30):
The indicator plots the high and low of the price range between 00:00 and 00:30 for the current day.
This range is highlighted on the chart, making it easy to identify the initial market movement and potential support/resistance levels.
Previous Days' Opening Ranges:
The indicator also displays the opening ranges for previous days, allowing you to how price reacts off of previous days ranges not just todays.
This feature helps in identifying patterns or recurring behaviors in the market in which price uses this range and previous days ranges throughout the trading day.
Deviations from the Opening Range:
The indicator calculates and plots deviations from the opening range, both above and below the high and low of the range.
These deviations can be used to identify potential breakout or reversal points, giving you an edge in anticipating market moves.
Custom Opening Prices:
The indicator allows you to set custom opening prices, which can be useful if you want to analyze the market based on a specific reference point rather than the default midnight opening.
This feature is particularly useful for traders who follow alternative trading sessions or have specific entry criteria.
Customizable Visuals:
The indicator offers customizable colors and styles for the opening range, deviations, and custom opening prices, allowing you to tailor the visual representation to your preferences.
How to Use:
Identify Key Levels: Use the highlighted opening range to identify key support and resistance levels for the day.
Monitor Deviations: Watch for price movements beyond the opening range deviations to spot potential breakouts or reversals.
Previous Range Data: Use previous days to identify areas of potential AMD.
Set Custom Prices: Adjust the custom opening price to align with your trading strategy or session preferences.
Ideal For:
Day Traders: Perfect for traders who focus on the early hours of the market to capture initial momentum.
Swing Traders: Useful for identifying key levels that could influence price action over several days.
Algorithmic Traders: Can be integrated into automated trading systems to trigger trades based on the opening range and deviations.
Conclusion:
The Midnight Opening Range Indicator is an essential tool for any trader looking to gain an edge in the market by focusing on the critical midnight to 00:30 timeframe. With its ability to highlight opening ranges, calculate deviations, and accommodate custom opening prices, this indicator provides a comprehensive view of market behavior during this pivotal period. Whether you're a day trader, swing trader, or algorithmic trader, this indicator will help you make more informed trading decisions.
Momentum Theory Quick BiasMomentum Theory Quick Bias is a watchlist screener tool for rapid multi-timeframe analysis. It displays a variety of information from higher timeframes in order to set a directional bias including: breakout levels, peak levels, previous bar closes, and swing points.
✅ 8 Symbol Watchlist Scanner
✅ Quickly Set Directional Bias
✅ For Scalpers, Day Traders, and Swing Traders
--- 📷 INDICATOR GALLERY ---
--- 🚀 QUICK LOOK ---
✔ Multi-Timeframe Analysis
Displays various higher timeframe information in order to read how an asset is moving with one quick glance. Utilizes icons and colors that serve as visual cues.
--- ⚡ FEATURES ---
✔ Breakout Bias
Shows if the current price is above or below the breakout level on the timeframe.
✔ Peak Bias
Shows if the current previous peak has been triggered and where price is relative to it.
✔ Previous Bar Close
Shows how the previous bar closed and whether it's bullish or bearish.
Breakout
Fakeout
Inside
Outside
✔ Swing Point
Shows if the timeframe has currently flipped its breakout level.
✔ Bias Alignment
Shows visual icons if there is bias alignment between the timeframes.
↗️↘️ Breakout Bias Alignment
🔼🔽 Peak Bias Alignment
🔀 Breakout and Peak Bias Alignment, but opposite
✅ Breakout and Peak Bias Alignment
✔ Quick Analysis
Hover over the symbol name to view which timeframe levels are bullish or bearish and if peak levels have been triggered.
--- 🔥 OTHER FEATURES ---
✔ Built-In Presets
Create your own custom watchlist or use one of the built-in ones (using Oanda charts)
It's recommended to use the same source for all assets in your watchlist whenever possible
✔ Customized Layouts
Display the watchlist in a variety of different column arrangements.
✔ Dark and Light Modes
Adjustable theme colors to trade your chart the way you want.
✔ Plug-and-Play
Automatically changes the relevant levels depending on the viewed timeframe. Just fill in your watchlist, add it to your chart, and start trading!
Set the indicator to the following timeframes to view those arrangements:
Month Timeframe - Y / 6M / 3M / M
Week Timeframe - 6M / 3M / M / W
Day Timeframe - 3M / M / W / D
H4 Timeframe - Y / M / W / D
M15 Timeframe - M / W / D / H8
M10 Timeframe - M / W / D / H4
M5 Timeframe - W / D / H8 / H2
M3 Timeframe - W / D / H4 / H1
M2 Timeframe - D / H8 / H2 / M30
M1 Timeframe - D / H4 / H1 / M15
--- 📝 HOW TO USE ---
1) Create your watchlist or use one of the built-in presets and place it on the timeframe you want to see. If no watchlist is created, it automatically sets to the current asset.
2) Alignments will trigger in real-time and push to the top of the column.
It is recommended to place the indicator in a different chart window, so it won't have to refresh every time the asset or timeframe changes.
Dynamic SL - 1 Pip (Up and Down)The Dynamic SL - 1 Pip Up and Down indicator creates two dynamic lines that follow the price at a distance of 1 pip above and below the closing price. This feature can be particularly useful for traders who want to visualize small stop-loss (SL) levels or track price movement in a highly responsive manner.
Unlike traditional stop-loss indicators, this script ensures that the lines only last for 5 seconds, keeping the chart clean and focusing only on the most relevant price movement.
Key Features
✔ Dynamic Stop-Loss Visualization:
The script draws a green line above the price (+1 pip).
A red line below the price (-1 pip) is also drawn.
✔ Auto-Clearing for a Clean Chart:
Each line lasts for 5 seconds only before automatically disappearing.
This prevents unnecessary clutter on the chart and ensures only the latest price movements are visualized.
✔ Adaptable to Multiple Assets:
Automatically calculates the pip size based on the instrument type:
Forex → Uses 0.0001 per pip.
Futures & Stocks → Uses the minimum tick size.
✔ Ideal for High-Frequency Traders & Scalpers:
Designed for 1-minute (M1) or lower timeframes where traders need to monitor price action closely.
Helps visualize ultra-tight stop-loss levels in scalping strategies.
3-1 Setup Detector (Multi-Timeframe)📌 3-1 Setup Detector (Multi-Timeframe) – Description
The 3-1 Setup Detector (Multi-Timeframe) is a powerful price action indicator designed for The Strat trading method. It automatically detects 3-1 setups, where an outside bar (3) is followed by an inside bar (1), signaling potential breakout opportunities.
🔥 Key Features:
✅ Multi-Timeframe Support – Works on 1H, 2H, 3H, 4H, 6H, 12H, Daily, 2D, 3D, Weekly, 2W, 3W, Monthly, Quarterly
✅ Real-Time Alerts – Get notified when a 3-1 setup forms
✅ Easy Visualization – Plots markers on the chart for quick recognition
✅ Customizable Timeframe – Select a specific higher timeframe for confirmation
📊 How It Works:
Identifies an outside bar (3), where the high is higher and the low is lower than the previous bar.
Detects an inside bar (1), where the high is lower and the low is higher than the previous bar.
If a 3-1 sequence occurs, the indicator marks the setup on the chart and triggers an alert.
🎯 Trading Applications:
Breakout Strategy: Trade breakouts when the 3-1 setup forms near key levels.
Reversal Signals: Use in combination with support/resistance for confirmation.
Multi-Timeframe Analysis: Detect setups on higher timeframes while trading lower ones.
🚀 Perfect for traders who use The Strat method and want real-time, high-probability trade setups across multiple timeframes!
EMA CROSS v1.0 by ScorpioneroIndicator Description: Multi-Timeframe SMA Table & Plot
This indicator displays a structured table of Simple Moving Averages (SMA) across multiple timeframes and plots them directly on the chart for better trend analysis.
Features:
✅ Multi-Timeframe SMA Calculation: Computes SMAs for different periods (10, 60, and 223) across six timeframes (1m, 3m, 5m, 15m, 30m, 60m).
✅ Sorted SMA Table: Displays a table in the bottom-right corner of the chart, showing the three SMAs per timeframe, sorted in descending order.
✅ Color-Coded Cells: Each SMA is highlighted with a specific color:
🟡 Yellow → 10-period SMA
🔵 Blue → 60-period SMA
🟣 Purple → 223-period SMA
⚪ Gray → Other values
✅ SMA Plotting on the Chart: All calculated SMAs are plotted directly on the price chart, allowing users to visualize their interaction with price movements.
How to Use:
The table provides a quick overview of SMA rankings across timeframes, helping identify bullish or bearish trends.
The SMA plots on the chart can be used for dynamic support/resistance analysis and trend confirmation.
This indicator is ideal for traders who rely on multi-timeframe trend analysis to make informed trading decisions! 🚀
by Scorpionero
STDEV Multi TimeFrame [Snowdex]STDEV Multi TimeFrame
The STDEV Multi TimeFrame indicator plots standard deviation levels (+1SD, +2SD, +3SD, -1SD, -2SD, -3SD) based on a user-selected timeframe (1D, 1W, 1M, etc.). It helps identify volatility, trend strength, and potential reversal zones using Bollinger Bands-style deviation calculations.
Key Features:
✅ Multi-Timeframe Selection – Choose any timeframe for STDEV calculations.
✅ Customizable Bollinger Bands – Select SMA, EMA, RMA, or WMA as the baseline.
✅ Color-Coded STDEV Levels – Fast (Green), Medium (Orange), Slow (Red).
✅ Non-Repainting & Accurate – Uses request.security() for precise data retrieval.
✅ Extended Lines & Labels – Clear trend monitoring with formatted values.
Use Cases:
📌 Detect trend direction & volatility.
📌 Identify overbought/oversold zones.
📌 Use as dynamic support/resistance levels.
🚀 Ideal for stocks, forex, crypto, and options trading! 🚀
Price Level Multi Timeframe [Snowdex]Price Level Multi-Timeframe Indicator
This indicator visualizes important price levels from multiple timeframes (e.g., daily, weekly, monthly) directly on the chart. It helps traders identify significant support and resistance levels for better decision-making.
Features:
Displays price levels for multiple timeframes: daily (1D), weekly (1W), monthly (1M), quarterly (3M), semi-annual (6M), and yearly (12M).
Customizable options to show or hide levels and adjust their colors.
Highlights high, low, and close levels of each timeframe with labels and dotted lines.
Includes options to extend levels visually for better clarity.
Benefits:
Easily compare price levels across timeframes.
Enhance technical analysis with multi-timeframe insights.
Identify key areas of support and resistance dynamically.
Killzones & Previous High-Low Liquidity [odnac]This indicator is designed for use in intraday trading to visualize key "Killzones" (specific time windows during different global market sessions) and highlight liquidity levels based on previous highs and lows from the previous day and week.
It helps traders identify potential market entry and exit points based on time-based trading zones and price action levels.
Key Features:
Killzone (Market Session Timeframes):
Asia (2000-0000 UTC): Displays a shaded box over the Asia trading session.
Europe (0200-0500 UTC): Highlights the European trading session.
New York AM (0830-1100 UTC): Represents the morning session of the NY market.
New York PM (1330-1600 UTC): Represents the afternoon session of the NY market.
Each of these timeframes can be customized in terms of session start and end times, and the shaded areas will help identify high liquidity periods when the market tends to be more active.
Previous High-Low Liquidity Zones:
Previous Week's High/Low: Displays lines at the high and low of the previous week.
These are important liquidity levels that can influence price action.
Previous Day's High/Low: Shows the high and low from the previous trading day.
These are also significant levels to watch for potential support and resistance.
Filters and Customization:
Position Filtering: The indicator allows users to filter out previous highs or lows if the current price doesn't align with those levels.
For example, it can filter out previous week highs if the current price is lower than that level.
Vertical Lines: Optional vertical lines to highlight key time points such as the start and end of the previous week and day.
How It Works:
The indicator visually draws "killzones" as shaded regions on the chart, indicating periods of increased market activity.
This can help traders align their strategies with the most liquid periods of the day.
The previous high and low lines (both for the previous week and the previous day) are drawn as solid lines and can be toggled on/off in the settings.
Labels are added to indicate the specific levels and periods.
The indicator provides clear visual cues, helping traders assess if the price is near important liquidity levels and whether the current market conditions align with those levels.
Customizable Settings:
You can control whether each Killzone and liquidity level is shown on the chart.
Color customization for the various zones and lines is also available.
The indicator also lets you decide whether to hide weekend data, set time-frame limits, and choose whether or not to show vertical lines at the beginning and end of each trading session.
This indicator is aimed at traders who want to trade based on high-liquidity periods and understand where key support and resistance levels are likely to emerge based on previous price action.
VMA [Extreme Advanced Custom Table for BTCUSD]This indicator implements a Variable Moving Average (VMA) with a 33-period length—selected in homage to the Tesla 369 concept—to dynamically adjust to market conditions. It not only calculates the adaptive VMA but also displays a custom table of key metrics directly on the chart. Here’s how to use it:
Apply to Your Chart:
Add the indicator to your chart (optimized for BTCUSD, though it can be used on other symbols) and choose your desired source (e.g., close).
Customize Your Visuals:
Trend & Price Lines: Toggle the trend colors, price line, and bar coloring based on the VMA’s direction.
Channels & Slope: Enable the volatility channel and slope line to visualize market volatility and the VMA’s momentum.
Pivot Points & Super VMA: Activate pivot high/low markers for potential reversal points and a Super VMA (SMA of VMA) for an extra smoothing layer.
Table Customization: Adjust the table’s position, colors, and font sizes as needed for your viewing preference.
Monitor Key Metrics:
The dynamic table displays essential information:
VMA Value & Trend: See the current VMA and whether the trend is Bullish, Bearish, or Neutral.
Volatility Index (vI) & Slope: Quickly assess market volatility and the VMA’s slope (both absolute and percentage).
Price-VMA Difference & Correlation: Evaluate how far the price is from the VMA and its correlation.
Higher Timeframe VMA: Compare the current VMA with its higher timeframe counterpart (set via the “Higher Timeframe” input).
Alerts for Key Conditions:
Built-in alert conditions notify you when:
The trend changes (bullish/bearish).
The VMA slope becomes extreme.
The price and VMA correlation falls below a defined threshold.
The VMA crosses its higher timeframe average.
How to Use the Script:
Add to Your Chart:
Open TradingView and apply the indicator to your BTCUSD (or any other) chart.
The indicator will overlay on your chart, plotting the VMA along with optional elements such as the price line, volatility channels, and higher timeframe VMA.
Customize Your Settings:
Inputs:
Choose your data source (e.g., close price).
Adjust the VMA length (default is 33) if desired.
Visual Options:
Toggle trend colors, bar coloring, and additional visuals (price line, volatility channels, slope line, pivot points, and Super VMA) to suit your trading style.
Table Customization:
Set the table position, colors, border width, and font size to ensure key metrics are easily visible.
Higher Timeframe:
You can change the higher timeframe input (default is Daily) to better fit your analysis routine.
Interpret the Indicator:
Trend Analysis:
Watch the color-coded VMA line. A rising (orange) VMA suggests bullish momentum, while a falling (red) one indicates bearish conditions.
What Sets This Script Apart:
Dynamic Adaptation:
Unlike a fixed-period moving average, the VMA adjusts its sensitivity in real time by integrating a volatility measure, making it more adaptive to market swings.
Multi-Layered Analysis:
With integrated volatility channels, pivot points, slope analysis, and a higher timeframe VMA, this tool gives you a fuller picture of market dynamics.
Immediate Data at a Glance:
The real-time table consolidates multiple key metrics into one view, saving time and reducing the need for additional indicators.
Custom Alerts:
Pre-built alert conditions allow for timely notifications, ensuring you don’t miss critical market changes.
Scalping Tool with Dynamic Take Profit & Stop Loss### **Scalping Indicator: Summary and User Guide**
The **Scalping Indicator** is a powerful tool designed for traders who focus on short-term price movements. It combines **Exponential Moving Averages (EMA)** for trend identification and **Average True Range (ATR)** for dynamic stop loss and take profit levels. The indicator is highly customizable, allowing traders to adapt it to their specific trading style and risk tolerance.
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### **Key Features**
1. **Trend Identification**:
- Uses two EMAs (Fast and Slow) to identify trend direction.
- Generates **Buy Signals** when the Fast EMA crosses above the Slow EMA.
- Generates **Sell Signals** when the Fast EMA crosses below the Slow EMA.
2. **Dynamic Take Profit (TP) and Stop Loss (SL)**:
- **Take Profit (TP)**:
- TP levels are calculated as a percentage above (for long trades) or below (for short trades) the entry price.
- TP levels are **dynamically recalculated** when the price reaches the initial target, allowing for multiple TP levels during a single trade.
- **Stop Loss (SL)**:
- SL levels are calculated using the ATR multiplier, providing a volatility-based buffer to protect against adverse price movements.
3. **Separate Settings for Long and Short Trades**:
- Users can independently enable/disable and configure TP and SL for **Buy** and **Sell** orders.
- This flexibility ensures that the indicator can be tailored to different market conditions and trading strategies.
4. **Visual Signals and Levels**:
- **Buy/Sell Signals**: Clearly marked on the chart with labels ("BUY" or "SELL").
- **TP and SL Levels**: Plotted on the chart for both long and short trades, making it easy to visualize risk and reward.
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### **How to Use the Scalping Indicator**
#### **1. Setting Up the Indicator**
- Apply the indicator to your chart in TradingView.
- Configure the input parameters based on your trading preferences:
- **Fast Length**: The period for the Fast EMA (default: 5).
- **Slow Length**: The period for the Slow EMA (default: 13).
- **ATR Length**: The period for the ATR calculation (default: 14).
- **Buy/Sell TP and SL**: Enable/disable and set the percentage or ATR multiplier for TP and SL levels.
#### **2. Interpreting the Signals**
- **Buy Signal**:
- When the Fast EMA crosses above the Slow EMA, a "BUY" label appears below the price bar.
- The TP and SL levels for the long trade are plotted on the chart.
- **Sell Signal**:
- When the Fast EMA crosses below the Slow EMA, a "SELL" label appears above the price bar.
- The TP and SL levels for the short trade are plotted on the chart.
#### **3. Managing Trades**
- **Take Profit (TP)**:
- When the price reaches the initial TP level, the indicator automatically recalculates the next TP level based on the new close price.
- This allows traders to capture additional profits as the trend continues.
- **Stop Loss (SL)**:
- The SL level is based on the ATR multiplier, providing a dynamic buffer against market volatility.
- If the price hits the SL level, the trade is considered closed, and the indicator resets.
#### **4. Customization**
- Adjust the **Fast Length** and **Slow Length** to suit your trading timeframe (e.g., shorter lengths for scalping, longer lengths for swing trading).
- Modify the **ATR Multiplier** and **TP Percentage** to align with your risk-reward ratio.
- Enable/disable TP and SL for long and short trades based on your trading strategy.
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### **Tips for Getting the Best Results**
1. **Combine with Price Action**:
- Use the Scalping Indicator in conjunction with support/resistance levels, candlestick patterns, or other technical analysis tools to confirm signals.
2. **Optimize for Your Timeframe**:
- For **scalping**, use shorter EMA lengths (e.g., Fast: 5, Slow: 13).
- For **swing trading**, use longer EMA lengths (e.g., Fast: 10, Slow: 20).
3. **Adjust Risk Management**:
- Use a smaller **ATR Multiplier** for tighter stop losses in low-volatility markets.
- Increase the **TP Percentage** to allow for larger price movements in high-volatility markets.
4. **Backtest and Practice**:
- Test the indicator on historical data to understand its performance in different market conditions.
- Use a demo account to practice trading with the indicator before applying it to live trading.
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### **Conclusion**
The **Scalping Indicator** is a versatile and user-friendly tool for traders who want to capitalize on short-term price movements. By combining trend-following EMAs with dynamic TP and SL levels, it provides a clear and systematic approach to trading. Whether you're a scalper or a swing trader, this indicator can help you identify high-probability setups and manage risk effectively. Customize it to fit your strategy, and always remember to combine it with sound risk management principles for the best results.
Naive Bayes Candlestick Pattern Classifier v1.1 BETAAn intermezzo on why i made this script publication..
A : Candlestick Pattern took hours to backtest, why not using Machine Learning techniques?
B : Machine Learning, no that's gonna be really heavy bro!
A : Not really, because we use Naive Bayes.
B : The simplest, yet powerful machine learning algorithm to separate (a.k.a classify) multivariate data.
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Hello, everyone!
After deep research in extracting meaningful information from the market, I ended up building this powerful machine learning indicator based on the evolution of Bayesian Statistics. This indicator not only leverages the simplicity of Naive Bayes but also extends its application to candlestick pattern analysis, making it an invaluable tool for traders who are looking to enhance their technical analysis without spending countless hours manually backtesting each pattern on each market!.
What most interesting part is actually after learning all of likely useless methods like fibonacci, supply and demand, volume profile, etc. We always ended up back to basic like support and resistance and candlestick patterns, but with a slight twist on strategy algorithm design and statistical approach. Thus, the only reason why i made this, because i exactly know that you guys will ended up in this position as time goes by.
The essence of this indicator lies in its ability to automate the recognition and statistical evaluation of various candlestick patterns. Traditionally, traders have relied on visual inspection and manual backtesting to determine the effectiveness of patterns like Bullish Engulfing, Bearish Engulfing, Harami variations, Hammer formations, and even more complex multi-candle patterns such as Three White Soldiers, Three Black Crows, Dark Cloud Cover, and Piercing Pattern. However, these conventional methods are both time-consuming and prone to subjective bias.
To address these challenges, I employed Naive Bayes—a probabilistic classifier that, despite its simplicity, offers robust performance in various domains. Naive Bayes assumes that each feature is independent of the others given the class label, which, although a strong assumption, works remarkably well in practice, especially when the dataset is large like market data and the feature space is high-dimensional. In our case, each candlestick pattern acts as a feature that can be statistically evaluated based on its historical performance. The indicator calculates a probability that a given pattern will lead to a price reversal, by comparing the pattern’s close price to the highest or lowest price achieved in a lookahead window.
One of the standout features of this script is its flexibility. Each candlestick pattern is not only coded into the system but also comes with individual toggles to enable or disable them based on your trading strategy. This means you can choose to focus on single-candle patterns like Bullish Engulfing or more complex multi-candle formations such as Three White Soldiers, without modifying the core code. The built-in customization options allow you to adjust colors and labels for each pattern, giving you the freedom to tailor the visual output to your preference. This level of customization ensures that the indicator integrates seamlessly into your existing TradingView setup.
Moreover, the indicator isn’t just about pattern recognition—it also incorporates outcome-based learning. Every time a pattern is detected, it looks ahead a predefined number of bars to evaluate if the expected reversal actually materialized. This outcome is then stored in arrays, and over time, the script dynamically calculates the probability of success for each pattern. These probabilities are presented in a real-time updating table on your chart, which shows not only the percentage probability but also the count of historical occurrences. With this information at your fingertips, you can quickly gauge the reliability of each pattern in your chosen market and timeframe.
Another significant advantage of this approach is its speed and efficiency. While more complex machine learning models like neural networks might require heavy computational resources and longer training times, the Naive Bayes classifier in this script is lightweight, instantaneous and can be updated on the fly with each new bar. This real-time capability is essential for modern traders who need to make quick decisions in fast-paced markets.
Furthermore, by automating the process of backtesting, the indicator frees up your time to focus on other aspects of trading strategy development. Instead of manually analyzing hundreds or even thousands of candles, you can rely on the statistical power of Naive Bayes to provide you with insights on which patterns are most likely to result in profitable moves. This not only enhances your efficiency but also helps to eliminate the cognitive biases that often plague manual analysis.
In summary, this indicator represents a fusion of traditional candlestick analysis with modern machine learning techniques. It harnesses the simplicity and effectiveness of Naive Bayes to deliver a dynamic, real-time evaluation of various candlestick patterns. Whether you are a seasoned trader looking to refine your technical analysis or a beginner eager to understand market dynamics, this tool offers a powerful, customizable, and efficient solution. Welcome to a new era where advanced statistical methods meet practical trading insights—happy trading and may your patterns always be in your favor!
Note : On this current released beta version, you must manually adjust reversal percentage move based on each market. Further updates may include automated best range detection and probability.
Optimized Dynamic SupertrendDetailed Explanation of the Optimized Dynamic Supertrend Script
This Supertrend script is designed to dynamically adapt to different market conditions using ATR expansion, volume confirmation, and trend filtering. Below is a step-by-step breakdown of how it works and its functions.
1 ATR-Based Supertrend Calculation
📌 Key Purpose:
The script calculates an adaptive ATR-based Supertrend line, which acts as a dynamic support or resistance level for trend direction.
📌 How it Works:
ATR (Average True Range) is used to measure market volatility.
A dynamic ATR multiplier is applied based on price standard deviation (instead of a fixed value).
The Supertrend is calculated as:
Upper Band: SMA(close, ATR length) + (ATR Multiplier * ATR Value)
Lower Band: SMA(close, ATR length) - (ATR Multiplier * ATR Value)
The Supertrend flips when price crosses and holds beyond the Supertrend line.
🔹 Dynamic Adjustment:
Instead of using a fixed ATR multiplier, the script adjusts it using:
pinescript
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dynamicFactor = ta.stdev(close, atrLength) / ta.sma(close, atrLength)
atrMultiplier = input(1.5, title="Base ATR Multiplier") * dynamicFactor
High volatility → Wider Supertrend bands (to avoid false signals).
Low volatility → Tighter Supertrend bands (for faster detection).
2 Trend Detection Logic
📌 Key Purpose:
Determines if the market is in a bullish or bearish trend based on price action.
Uses volume sensitivity and ATR expansion to reduce false signals.
📌 How it Works:
pinescript
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var float supertrend = na
supertrend := close > nz(supertrend , lowerBand) ? lowerBand : upperBand
The Supertrend value updates dynamically.
If price is above the Supertrend line, the trend is bullish (green).
If price is below the Supertrend line, the trend is bearish (red).
3 Volume Sensitivity Confirmation
📌 Key Purpose:
Avoid false trend flips by confirming with volume (approximated using a CVD proxy).
📌 How it Works:
pinescript
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priceChange = close - close
volumeWeightedTrend = priceChange * volume // Approximate CVD Behavior
trendConfirmed = volumeWeightedTrend > 0 ? close > supertrend : close < supertrend
Positive price change + High volume → Confirms bullish momentum.
Negative price change + High volume → Confirms bearish momentum.
If there’s low volume, the trend change is ignored to avoid false breakouts.
4 Noise Reduction (Final Trend Confirmation)
📌 Key Purpose:
Filter out weak or choppy price movements using ATR expansion.
📌 How it Works:
pinescript
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trendUp = trendConfirmed and ta.atr(atrLength) > ta.atr(atrLength)
trendDown = not trendUp
Trend only flips when confirmed by volume + ATR expansion.
If ATR is not expanding, the script ignores weak price movements.
This ensures Supertrend signals align with strong market moves.
5 Can This Be Used on All Timeframes?
✅ YES! This Supertrend is adaptive, meaning it adjusts dynamically based on:
Volatility: Uses ATR expansion to adjust for different market conditions.
Timeframe Sensitivity: Works on any timeframe (1M, 5M, 15M, 1H, 4H, 1D, 1W).
Market Structure: Confirms trend flips using volume & price movement strength.
🚀 Best Timeframes for Trading:
For Scalping (1M - 15M) → Quick execution, best with order flow confirmation.
For Swing Trading (1H - 4H - 1D) → Stronger trend signals, reduced noise.
For High Timeframes (3D - 1W) → Identifies major market shifts.
🔥 Advantages & Disadvantages in Your Trading Setup
✅ Advantages:
✔ Fully Dynamic & Adaptive → Adjusts to different timeframes & volatility.
✔ Reduces False Signals → Uses ATR expansion & volume confirmation.
✔ Precise Trend Reversals → Labels LONG & SHORT entries clearly.
✔ Works on Any Market → Crypto, Forex, Stocks, Commodities.
✔ No Extra Indicators → Pure Supertrend-based (fits your setup).
❌ Disadvantages:
⚠ Lagging Indicator → ATR & volume confirmation add slight delay.
⚠ Needs High Volume to Confirm → Weak volume → no trend flip.
⚠ Choppy Market = Late Entries → Sideways movement can cause delays.
🚀 Final Thoughts:
It’s fully dynamic & adaptive (unlike traditional static Supertrends).
No extra indicators → Uses only Supertrend logic
Refines entry points using volume & ATR confirmation (removes noise).
This ensures you get high-probability trend signals while filtering out weak breakouts! 🎯
[EmreKb] MTF FTRDescription
Multi time frame version of "Failed to Return by EmreKb" indicator.
What is FTR?
There is no definitive, fixed perspective on FTR. Some sources may choose the FTR zone differently. I will use the single bearish candle in an uptrend (or the single bullish candle in a downtrend) as the FTR in this indicator.
Settings
Update Last: Number of how many boxes will be updated in the new candle
Timeframes: Presets for timeframe option
Use Custom: For use custom timeframes
Custom Timeframes: Text area for write custom timeframes without space and separate with comma.
Multi-timeframe Difference Forecast (MTD)Description:
The Multi-timeframe Difference Forecast indicator projects potential future price levels by comparing open prices across multiple timeframe pairs. It uses 12 predefined timeframe pairs where each pair consists of a lower and a higher timeframe. For each pair, the indicator calculates a forecast value by adding the difference between the lower timeframe’s open and the higher timeframe’s open to the current bar’s close. These forecast values are then plotted as points into the future and connected by blue line segments, forming a continuous projection line on your chart.
How It Works:
Timeframe Pairs:
The indicator defines 12 pairs. For example:
Pair 1: Lower timeframe = 15 minutes; Higher timeframe = 150 minutes
Pair 2: Lower timeframe = 30 minutes; Higher timeframe = 165 minutes
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Pair 12: Lower timeframe = 180 minutes; Higher timeframe = 720 minutes
Forecast Calculation:
For each pair, the forecast is computed as:
forecast = close + (lower timeframe open - higher timeframe open)
This produces a series of forecast values that are then plotted on the chart.
Time Offset:
Each forecast point is offset into the future by a number of bars calculated as the ratio between the lower timeframe’s duration (in seconds) and the current chart’s timeframe (in seconds). This adjustment helps align the forecast points correctly on the time axis.
Visualization:
The indicator draws blue lines (width = 2) connecting the current price to each forecast point sequentially, forming a polyline that visually represents the projected price trajectory.
How to Use:
Overlay on Chart:
Apply this indicator to any chart, and it will automatically overlay the forecast line on your current price chart.
Timeframe Flexibility:
The calculations adjust to the chart’s timeframe, so you can use it on various timeframes without needing to change the code.
Interpretation:
The forecast line is intended to provide a visual estimate of potential future price movement based on historical open price differences. It is meant to serve as an additional analytical tool rather than a standalone trading signal.
Disclaimer:
This script is provided for educational and informational purposes only and should not be construed as financial or trading advice. Trading involves significant risk, and past performance is not indicative of future results. You should perform your own analysis and consult with a qualified professional before making any trading decisions. Use this indicator at your own risk.
