All time Fibonacci [ Unlimited ]This indicator can help traders identify key support and resistance levels based on Fibonacci retracements. By displaying these levels on a chart, traders can use them to make informed trading decisions.
サポート＆レジスタンス
Traffic Lights [theEccentricTrader]█ OVERVIEW
This indicator automatically draws higher timeframe support and resistance levels using current peak and trough prices. These prices are also displayed in a table which can be repositioned and resized at the user's discretion.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Peak and Trough Prices (Advanced)
• The advanced peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the highest preceding green candle high price, depending on which is higher.
• The advanced trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the lowest preceding red candle low price, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Major Traffic Lights
Major traffic light levels are determined using monthly (red solid lines), weekly (orange solid lines) and daily (green solid lines) peak and trough prices.
Minor Traffic Lights
Minor traffic light levels are determined using 4H (red dashed lines), 1H (orange dashed lines) and 15-minute (green dashed lines) peak and trough prices.
█ FEATURES
Inputs
• Advanced Peak and Trough Price Logic
• Show Minor
• Show Major
• Extend Line Type
• Show Table
• Position
• Text Size
If the current timeframe is higher than any of the traffic light timeframes the relevant lines and table cells will automatically be hidden. As can be seen in Figure 1. below, the intraday lines and table cells will only appear if the user scales down to a low enough timeframe.
Figure 1.
█ LIMITATIONS
The green and red candle calculations are based solely on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with. Alternatively, you can replace the scenarios with your own logic to account for the gap anomalies, if you are feeling up to the challenge.
It is also worth mentioning that the minor levels will not be displayed if the user selects a custom timeframe between 31 and 44 minutes, and between 46 and 59. All other timeframes should work as intended.
SMC sessionzz by JelleThe main function of this indicator is to make it easy to identify several smart money concepts (SMC) and ICT practices by using a single indicator. The functions themselves are not my original content, but rather a collection of several scripts with some tweaking, combined into a single indicator.
Main functions:
- Provides the ability to set bar color for London, New York and Asia sessions
- Provides the ability to set background color for London, New York and Asia sessions
- Provides the ability to indicate NY and GMT midnight on the chart by plotting vertical lines
- Provides several smart features to turn bar color and background color on/off depending on the timeframe
Usage example:
- Easily determine each session high and low by using the bar color feature
- Easily determine the daily high and low by using the vertical midnight lines
- Easily determine ICT kill zones by setting background color for each session
- Easily avoid clutter on your chart by using the timeframe filters
Parallel Projections [theEccentricTrader]█ OVERVIEW
This indicator automatically projects parallel trendlines or channels, from a single point of origin. In the example above I have applied the indicator twice to the 1D SPXUSD. The five upper lines (green) are projected at an angle of -5 from the 1-month swing high anchor point with a projection ratio of -72. And the seven lower lines (blue) are projected at an angle of 10 with a projection ratio of 36 from the 1-week swing low anchor point.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a high price equal to or above the price it opened.
• A red candle is one that closes with a low price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Trendlines
Trendlines are straight lines that are drawn between two or more points on a price chart. These lines are used as dynamic support and resistance levels for making strategic decisions and predictions about future price movements. For example traders will look for price movements along, and reactions to, trendlines in the form of rejections or breakouts/downs.
█ FEATURES
Inputs
• Anchor Point Type
• Swing High/Low Occurrence
• HTF Resolution
• Highest High/Lowest Low Lookback
• Angle Degree
• Projection Ratio
• Number Lines
• Line Color
Anchor Point Types
• Swing High
• Swing Low
• Swing High (HTF)
• Swing Low (HTF)
• Highest High
• Lowest Low
• Intraday Highest High (intraday charts only)
• Intraday Lowest Low (intraday charts only)
Swing High/Swing Low Occurrence
This input is used to determine which historic peak or trough to reference for swing high or swing low anchor point types.
HTF Resolution
This input is used to determine which higher timeframe to reference for swing high (HTF) or swing low (HTF) anchor point types.
Highest High/Lowest Low Lookback
This input is used to determine the lookback length for highest high or lowest low anchor point types.
Intraday Highest High/Lowest Low Lookback
When using intraday highest high or lowest low anchor point types, the lookback length is calculated automatically based on number of bars since the daily candle opened.
Angle Degree
This input is used to determine the angle of the trendlines. The output is expressed in terms of point or pips, depending on the symbol type, which is then passed through the built in math.todegrees() function. Positive numbers will project the lines upwards while negative numbers will project the lines downwards. Depending on the market and timeframe, the impact input values will have on the visible gaps between the lines will vary greatly. For example, an input of 10 will have a far greater impact on the gaps between the lines when viewed from the 1-minute timeframe than it would on the 1-day timeframe. The input is a float and as such the value passed through can go into as many decimal places as the user requires.
It is also worth mentioning that as more lines are added the gaps between the lines, that are closest to the anchor point, will get tighter as they make their way up the y-axis. Although the gaps between the lines will stay constant at the x2 plot, i.e. a distance of 10 points between them, they will gradually get tighter and tighter at the point of origin as the slope of the lines get steeper.
Projection Ratio
This input is used to determine the distance between the parallels, expressed in terms of point or pips. Positive numbers will project the lines upwards while negative numbers will project the lines downwards. Depending on the market and timeframe, the impact input values will have on the visible gaps between the lines will vary greatly. For example, an input of 10 will have a far greater impact on the gaps between the lines when viewed from the 1-minute timeframe than it would on the 1-day timeframe. The input is a float and as such the value passed through can go into as many decimal places as the user requires.
Number Lines
This input is used to determine the number of lines to be drawn on the chart, maximum is 500.
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
If the lines do not draw or you see a study error saying that the script references too many candles in history, this is most likely because the higher timeframe anchor point is not present on the current timeframe. This problem usually occurs when referencing a higher timeframe, such as the 1-month, from a much lower timeframe, such as the 1-minute. How far you can lookback for higher timeframe anchor points on the current timeframe will also be limited by your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000.
█ RAMBLINGS
It is my current thesis that the indicator will work best when used in conjunction with my Wavemeter indicator, which can be used to set the angle and projection ratio. For example, the average wave height or amplitude could be used as the value for the angle and projection ratio inputs. Or some factor or multiple of such an average. I think this makes sense as it allows for objectivity when applying the indicator across different markets and timeframes with different energies and vibrations.
“If you want to find the secrets of the universe, think in terms of energy, frequency and vibration.”
― Nikola Tesla
Fan Projections [theEccentricTrader]█ OVERVIEW
This indicator automatically projects trendlines in the shape of a fan, from a single point of origin. In the example above I have applied the indicator twice to the 1D SPXUSD. The seven upper lines (green) are projected at an angle of -5 from the 1-month swing high anchor point. And the five lower lines (blue) are projected at an angle of 10 from the 1-week swing low anchor point.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a high price equal to or above the price it opened.
• A red candle is one that closes with a low price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Trendlines
Trendlines are straight lines that are drawn between two or more points on a price chart. These lines are used as dynamic support and resistance levels for making strategic decisions and predictions about future price movements. For example traders will look for price movements along, and reactions to, trendlines in the form of rejections or breakouts/downs.
█ FEATURES
Inputs
• Anchor Point Type
• Swing High/Low Occurrence
• HTF Resolution
• Highest High/Lowest Low Lookback
• Angle Degree
• Number Lines
• Line Color
Anchor Point Types
• Swing High
• Swing Low
• Swing High (HTF)
• Swing Low (HTF)
• Highest High
• Lowest Low
• Intraday Highest High (intraday charts only)
• Intraday Lowest Low (intraday charts only)
Swing High/Swing Low Occurrence
This input is used to determine which historic peak or trough to reference for swing high or swing low anchor point types.
HTF Resolution
This input is used to determine which higher timeframe to reference for swing high (HTF) or swing low (HTF) anchor point types.
Highest High/Lowest Low Lookback
This input is used to determine the lookback length for highest high or lowest low anchor point types.
Intraday Highest High/Lowest Low Lookback
When using intraday highest high or lowest low anchor point types, the lookback length is calculated automatically based on number of bars since the daily candle opened.
Angle Degree
This input is used to determine the angle of the trendlines. The output is expressed in terms of point or pips, depending on the symbol type, which is then passed through the built in math.todegrees() function. Positive numbers will project the lines upwards while negative numbers will project the lines downwards. Depending on the market and timeframe, the impact input values will have on the visible gaps between the lines will vary greatly. For example, an input of 10 will have a far greater impact on the gaps between the lines when viewed from the 1-minute timeframe than it would on the 1-day timeframe. The input is a float and as such the value passed through can go into as many decimal places as the user requires.
It is also worth mentioning that as more lines are added the gaps between the lines, that are closest to the anchor point, will get tighter as they make their way up the y-axis. Although the gaps between the lines will stay constant at the x2 plot, i.e. a distance of 10 points between them, they will gradually get tighter and tighter at the point of origin as the slope of the lines get steeper.
Number Lines
This input is used to determine the number of lines to be drawn on the chart, maximum is 500.
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
If the lines do not draw or you see a study error saying that the script references too many candles in history, this is most likely because the higher timeframe anchor point is not present on the current timeframe. This problem usually occurs when referencing a higher timeframe, such as the 1-month, from a much lower timeframe, such as the 1-minute. How far you can lookback for higher timeframe anchor points on the current timeframe will also be limited by your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000.
█ RAMBLINGS
It is my current thesis that the indicator will work best when used in conjunction with my Wavemeter indicator, which can be used to set the angle. For example, the average wave height or amplitude could be used as the value for the angle input. Or some factor or multiple of such an average. I think this makes sense as it allows for objectivity when applying the indicator across different markets and timeframes with different energies and vibrations.
“If you want to find the secrets of the universe, think in terms of energy, frequency and vibration.”
― Nikola Tesla
Fibonacci Ratios HTF [theEccentricTrader]█ OVERVIEW
This indicator automatically draws higher timeframe Fibonacci levels from current peak to current trough or current trough to current peak, depending on where the current wave cycle ends. In the example above I have set the higher timeframe resolution to 1-month and applied it to a daily chart.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a high price equal to or above the price it opened.
• A red candle is one that closes with a low price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Wave Cycles
A wave cycle is here defined as a complete two-part move between a swing high and a swing low, or a swing low and a swing high. The first swing high or swing low will set the course for the sequence of wave cycles that follow; for example a chart that begins with a swing low will form its first complete wave cycle upon the formation of the first complete swing high and vice versa.
Figure 1.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Fibonacci Retracement and Extension Ratios
The Fibonacci sequence is a series of numbers in which each number is the sum of the two preceding numbers, starting with 0 and 1. For example 0 + 1 = 1, 1 + 1 = 2, 1 + 2 = 3, and so on. Ultimately, we could go on forever but the first few numbers in the sequence are as follows: 0 , 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144.
The extension ratios are calculated by dividing each number in the sequence by the number preceding it. For example 0/1 = 0, 1/1 = 1, 2/1 = 2, 3/2 = 1.5, 5/3 = 1.6666..., 8/5 = 1.6, 13/8 = 1.625, 21/13 = 1.6153..., 34/21 = 1.6190..., 55/34 = 1.6176..., 89/55 = 1.6181..., 144/89 = 1.6179..., and so on. The retracement ratios are calculated by inverting this process and dividing each number in the sequence by the number proceeding it. For example 0/1 = 0, 1/1 = 1, 1/2 = 0.5, 2/3 = 0.666..., 3/5 = 0.6, 5/8 = 0.625, 8/13 = 0.6153..., 13/21 = 0.6190..., 21/34 = 0.6176..., 34/55 = 0.6181..., 55/89 = 0.6179..., 89/144 = 0.6180..., and so on.
1.618 is considered to be the 'golden ratio', found in many natural phenomena such as the growth of seashells and the branching of trees. Some now speculate the universe oscillates at a frequency of 0,618 Hz, which could help to explain such phenomena, but this theory has yet to be proven.
Traders and analysts use Fibonacci retracement and extension indicators, consisting of horizontal lines representing different Fibonacci ratios, for identifying potential levels of support and resistance. Fibonacci ranges are typically drawn from left to right, with retracement levels representing ratios inside of the current range and extension levels representing ratios extended outside of the current range. If the current wave cycle ends on a swing low, the Fibonacci range is drawn from peak to trough. If the current wave cycle ends on a swing high the Fibonacci range is drawn from trough to peak.
Although there is some contention over which popular levels are and are not actually Fibonacci ratios, such as 50% and 100%, in this script I have based my retracement level calculations on the ratios of 23.6%, 38.2%, 50%, 61.8%, 78.6% and 100%. And my extension level calculations on the ratios of 161.8%, 261.8%, 361.8%, 423.6% and 461.8%.
█ FEATURES
Inputs
• HTF Resolution
• Show Fibonacci Extensions
• 00.0% Line Color
• 23.6% Line Color
• 38.2% Line Color
• 50.0% Line Color
• 61.8% Line Color
• 78.6% Line Color
• 100.0% Line Color
• 161.8% Line Color
• 261.8% Line Color
• 361.8% Line Color
• 423.6% Line Color
• 461.8% Line Color
• Extend Line Type
• Show Labels
• Label Colors
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
Similarly, if the current timeframe is not a factor of the higher timeframe there will be occasions when the left hand offset is out by a couple of bars. This is because the calculations are ultimately based on how many lower timeframe bars there are inside a sequence of higher timeframe bars. The indicator will also behave unexpectedly if the higher timeframe resolution is lower than the current timeframe, but that should be expected.
If the lines do not draw or you see a study error saying that the script references too many candles in history, this is most likely because the higher timeframe anchor point is not present on the current timeframe. This problem usually occurs when referencing a higher timeframe, such as the 1-month, from a much lower timeframe, such as the 1-minute. How far you can lookback for higher timeframe anchor points on the current timeframe will also be limited by your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000.
Fibonacci Ratios [theEccentricTrader]█ OVERVIEW
This indicator automatically draws Fibonacci levels from current peak to current trough or current trough to current peak, depending on where the current wave cycle ends.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a high price equal to or above the price it opened.
• A red candle is one that closes with a low price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Wave Cycles
A wave cycle is here defined as a complete two-part move between a swing high and a swing low, or a swing low and a swing high. The first swing high or swing low will set the course for the sequence of wave cycles that follow; for example a chart that begins with a swing low will form its first complete wave cycle upon the formation of the first complete swing high and vice versa.
Figure 1.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Fibonacci Retracement and Extension Ratios
The Fibonacci sequence is a series of numbers in which each number is the sum of the two preceding numbers, starting with 0 and 1. For example 0 + 1 = 1, 1 + 1 = 2, 1 + 2 = 3, and so on. Ultimately, we could go on forever but the first few numbers in the sequence are as follows: 0 , 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144.
The extension ratios are calculated by dividing each number in the sequence by the number preceding it. For example 0/1 = 0, 1/1 = 1, 2/1 = 2, 3/2 = 1.5, 5/3 = 1.6666..., 8/5 = 1.6, 13/8 = 1.625, 21/13 = 1.6153..., 34/21 = 1.6190..., 55/34 = 1.6176..., 89/55 = 1.6181..., 144/89 = 1.6179..., and so on. The retracement ratios are calculated by inverting this process and dividing each number in the sequence by the number proceeding it. For example 0/1 = 0, 1/1 = 1, 1/2 = 0.5, 2/3 = 0.666..., 3/5 = 0.6, 5/8 = 0.625, 8/13 = 0.6153..., 13/21 = 0.6190..., 21/34 = 0.6176..., 34/55 = 0.6181..., 55/89 = 0.6179..., 89/144 = 0.6180..., and so on.
1.618 is considered to be the 'golden ratio', found in many natural phenomena such as the growth of seashells and the branching of trees. Some now speculate the universe oscillates at a frequency of 0,618 Hz, which could help to explain such phenomena, but this theory has yet to be proven.
Traders and analysts use Fibonacci retracement and extension indicators, consisting of horizontal lines representing different Fibonacci ratios, for identifying potential levels of support and resistance. Fibonacci ranges are typically drawn from left to right, with retracement levels representing ratios inside of the current range and extension levels representing ratios extended outside of the current range. If the current wave cycle ends on a swing low, the Fibonacci range is drawn from peak to trough. If the current wave cycle ends on a swing high the Fibonacci range is drawn from trough to peak.
Although there is some contention over which popular levels are and are not actually Fibonacci ratios, such as 50% and 100%, in this script I have based my retracement level calculations on the ratios of 23.6%, 38.2%, 50%, 61.8%, 78.6% and 100%. And my extension level calculations on the ratios of 161.8%, 261.8%, 361.8%, 423.6% and 461.8%.
█ FEATURES
Inputs
• Show Fibonacci Extensions
• 00.0% Line Color
• 23.6% Line Color
• 38.2% Line Color
• 50.0% Line Color
• 61.8% Line Color
• 78.6% Line Color
• 100.0% Line Color
• 161.8% Line Color
• 261.8% Line Color
• 361.8% Line Color
• 423.6% Line Color
• 461.8% Line Color
• Extend Line Type
• Show Labels
• Label Colors
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
Long & Short / Bullish & Bearish & Neutral / Sentiment LONG and SHORT signal generation:
The LONG and SHORT signals in this script are generated based on a combination of sentiment, price strength, and volume strength calculations. The following parameters and calculations are used in determining these signals:
Sentiment:
The sentiment is calculated using a Simple Moving Average ( SMA ) of the SMO (oscillator) over a specified sentiment_length.
Price Strength:
The price strength is calculated as the percentage change in the closing price compared to the previous closing price.
Volume Strength:
The volume strength is calculated as the percentage change in the trading volume compared to the previous trading volume .
Custom Oscillator:
This oscillator is calculated as the difference between price strength and volume strength, followed by calculating its SMA over a specified strength_length.
The LONG signal is triggered when:
The sentiment_diff (difference between the oscillator and the SMA oscillator) is greater than 0, and the close price is greater than the fast EMA ( Exponential Moving Average ) of the close price, OR
The custom oscillator crosses over its SMA , and the close price is greater than the open price, and the close price of the previous period is greater than the close price of two periods ago.
The SHORT signal is triggered when:
The sentiment_diff is less than 0, and the close price is less than the fast EMA of the close price, OR
The custom oscillator crosses under its SMA , and the close price is less than the open price, and the close price of the previous period is less than the close price of two periods ago.
Color change description:
The color change in this script is based on the relationship between the close price and the highest/lowest SMAs of the high/low price over a specified lengthInputRoR. The following colors are used:
Green:
Bullish area (close price is greater than the highest SMA of the high price)
Red:
Bearish area (close price is less than the lowest SMA of the low price)
Yellow:
Neutral area (close price is between the highest and lowest SMAs of the high and low prices)
Color meaning description:
Yellow (Neutral Area):
This color indicates that the close price is between the highest and lowest SMAs of the high and low prices, signaling more caution and uncertainty in the market.
Green ( Bullish Area):
This color represents a bullish market condition where the close price is greater than the highest SMA of the high price, suggesting a higher probability of a successful LONG position.
Red ( Bearish Area):
This color signifies a bearish market condition where the close price is less than the lowest SMA of the low price, indicating a higher probability of a successful SHORT position.
Support and Resistance lines explanation:
Support and resistance lines are calculated based on the highest and lowest prices over a specified number of periods. These lines are used to identify significant price levels where the market may experience increased buying or selling pressure.
Resistance:
The resistance line is calculated using the highest high price over a specified number of periods. This line represents a price level where selling pressure is expected to increase, making it more difficult for the price to rise further. Traders often consider resistance levels as potential entry points for SHORT positions or exit points for LONG positions.
Support:
The support line is calculated using the lowest low price over a specified number of periods. This line represents a price level where buying pressure is expected to increase, making it more difficult for the price to fall further. Traders often consider support levels as potential entry points for LONG positions or exit points for SHORT positions.
The resistance and support lines are plotted using different colors to help traders visualize the important price levels where the market may experience a reversal or consolidation.
Final Words:
This script provides LONG and SHORT signals and alerts based on a combination of sentiment, price strength, and volume strength calculations. It is designed to serve as a high-quality aid for executing well-informed trading ideas. However, it's important to note that the LONG and SHORT signals and alerts generated by this script should not be considered as trading advice. Traders should always conduct their own research and analysis before making any trading decisions. The script aims to assist in visualizing important market trends and price levels, helping traders make more informed decisions based on their personal trading strategies.
Bitcoin 30m Swing Trader Long/Short StrategyIntro
I want to share the results of my passionate hobby and the unstoppable chase for a profitable automated trading strategy. It has been created with the intention of trading only Bitcoin. Altcoins are not interesting for me, as I have discovered lots of issues with finding the right parameter values for experiencing a good performance. As altcoins typically follow the trend of bitcoin and characteristically have a high volatility that may cause stop-hunts, I decided to not over complicate this project. I was just aiming for a profitable trading strategy with an acceptable drawdown and enough confidence by a statistically significant number of trades beside a wide backtesting timespan (credits going out to TradingView: Deep Backtesting).
Total time spent on this is approximately 2 years.
Indicators used
RSI: Used for entries and trend reversal spots
MACD: Used for entry and exit optimiziation
ATR: Used for dynamic offsets in trend definition indicator
Custom trend indicator: Self-made indicator, based on simple price action of higher timeframes using pivot points to find support and resistance zones that have formerly been created
Strategy parameters
I have reduced the total parameters used to just a few. It took lots of working hours to find appropriate values along the trading algorithm and I don’t want to overcomplicate it to you.
This strategy is for those, who have been looking for a working strategy. No DIY kit.
Feel free to adapt Take profit or stop loss targets. But it’s not recommended to do so.
How it works
Entries:
I started with a kind of template that I have been using for strategies for a long time. This includes how to find the right Entries during a trend as well as spotting trend reverse opportunities. Here I combine simple indicators like RSI and MACD beside necessary trend conditions. If a target RSI Value is hit, it will enter a trade, after MACD histogram has stopped to fall/rise. Depends on long/short. While we are in a trade and trend reversed, it waits for a specific RSI target level to be hit, to reverse the trade. As simple as it is, it closes the open one and starts a trade in other direction.
Micro trend:
It starts to get more interesting when it comes to trend recognition, as it forms the core of the strategy and discovering appropriate values for it has been very hard. The final trend variable is defined by the responses over higher timeframes of my self-made trend indicator. Executed on the current timeframe, the trend indicator is quite interesting. But for a automated trading strategy it is necessary to deviate trading instructions from higher timeframes trends.
Macro trend:
The same process that happens for micro trend is also applied with much higher timeframes, like 3D or weekly. The basic assumption is, that if we are in a bull or bear run, where retail investors are flooding the markets, we are increasing our take profit targets respectively. This way we can catch bigger moves in bigger trends.
Exits:
Closing a trade generally happens when a TP target (in %) is hit, or the SL (in %) is hit. The strategy has a special treatment with SL’s. After it happens, the strategy is more careful about market conditions and typically waits for a countertrade. The third way of closing a trade has already been mentioned: the reverse trades. They happen during choppy market conditions. The strategy has also special awareness here and tracks, if reverse trades start to happen more often. After a while, it starts to be more restrictive in opening new reverse trades.
Performance
Capabilities and limitations:
As I have already mentioned the strategy is only optimized for bitcoin (Perpetual Futures). This does not mean, it can not be used on other markets, because the algorithm itself is universal appliable. A very hard task was about finding the right parameter values for the strategy performing like this. If you have a special wish to configure this strategy for a specific market, DM me. The strategy has been tested with different configurations on the following timeframes: 30, 15, 10, 5, 1. I have decided to publish the one for 30m TF, because its performance simply convinced me.
Repainting:
It has been tested lots of times against repainting.
Confidence:
The total backtesting performance reaches out to 2019-09-08. So the strategy has been managing to be successful since then, but this does not guarantee that the logic, this strategy follows, is going to continue this level in future.
Commission:
The algorithm is configured with 0.04% commission per trade, as it is on Binance (for Future Market orders).
Ordersize:
Its totally up to you, how much of your total equity should be traded. Nevertheless, I would personally recommend to not exceed 50% ordersize of your equity with this strategy. In the past, you would have had great performance beside a drawdown, that was from psychological point of view good to handle with. This strategy additionally uses STOP LOSSES, so you can never loose you whole ordersize at one trade.
Slippage:
You also must consider about getting slipped when trading this strategy on live markets. Statistically one could assume, that the slippage could be neutral, as it can be both positive or negative. It depends on your execution time, the exchange, on which you are executing trades and market conditions. But keep it in mind, as if you have too much slippage, this strategy would be unprofitable.
Supply and Demand w/ Higher Timeframe and Hidden Zones█ OVERVIEW
This indicator draws Supply and Demand zones using the common methodology of a basing candle followed by a drop/rally candle. The indicator user inputs allow you to configure the parameters for zone identification in two ways. First, by increasing the intensity of the drop/rally candle. Second, by increasing the number of candles that should be grouped to form a base and it's following drop/rally. This allows you to chart zones from higher timeframes and zones that may not be identifiable on the higher timeframes (aka Hidden Zones).
For example, when viewing a chart on the 5min timeframe the "Number of Candles" user input can be set according to the higher timeframe that you want to use to draw zones.
Setting "Number of Candles" to 3 draws zones from the 15min timeframe. (5min * 3 candles = 15min)
Setting "Number of Candles" to 6 draws zones from the 30min timeframe. (5min * 6 candles = 30min)
This functionality also allows for the identification of hidden zones because the first candle in a set on the lower timeframe does not have to align with the candles on the higher timeframe.
█ CONCEPTS
Intensity
For demand zones, the distance between the close of a rally candle and the high of the basing candle is what this indicator refers to as "Intensity".
For supply zones, it is the distance between the close of the drop candle and the low of the basing candle.
Higher Timeframe Zones
This indicator finds higher timeframe zones through the use of the "Number of Candles" user input.
The higher timeframe used will be the product of the chart's current timeframe and the value set for "Number of Candles".
Hidden Zones
A hidden zone is a zone from a higher timeframe that can not be seen when charting with that timeframe.
It can only be found on lower timeframes by grouping candles together to emulate higher timeframe candles.
█ USER INPUTS
Lookback
The Number of Bars back used to find zones.
Zone Configuration
• Drop/Rally Intensity - Increase this to require the drop/rally candle to make a greater move from the basing candle to qualify as a zone.
• Number of Candles - Increase this to draw zones from higher timeframes. The timeframe used will be the product of the chart's current timeframe and the value selected.
Zone Drawing Options
• Include Broken Zones - When unchecked zones that have been broken through will not be drawn.
• Demand Fill/Border - Allows customization of the color and transparency of demand zones.
• Supply Fill/Border - Allows customization of the color and transparency of supply zones.
█ TIPS
1 — Use the indicator multiple times on the chart with the "Number of Candles" input set to different values to have zones from multiple higher timeframes on the chart.
2 — Drop/Rally Intensity set to 0 is not recommended. It will lead to very weak zones being drawn.
Multi-Timeframe High Low (@JP7FX)Multi-Timeframe High Low Levels (@JP7FX)
This Price Action indicator displays high and low levels from a selected timeframe on your current chart.
These levels COULD represent areas of potential liquidity, providing key price points where traders can target entries, reversals, or continuation trades.
Key Features:
Display high and low levels from a selected timeframe.
Customize line width, colors for high and low levels, and label text color.
Enable or disable the display of high levels, low levels, and labels.
Receive alerts when the price takes out high or low levels.
How to use:
It is important to note that using this indicator on it's own is not advisable. Instead, it should be combined with other tools and analysis for a more comprehensive trading strategy.
Possibly look to use my MTF Supply and Demand Indicator to look for zones to trade from at these levels?
If the price breaks above a high level, you might consider entering a long position, with the expectation that the price will continue to rise. Conversely, if the price breaks below a low level, you may think about entering a short position, anticipating further downward movement.
On the other hand, you can also use high or low levels to look for reversal trades, as these areas can represent attractive liquidity zones.
By identifying these key price points, you could take advantage of potential market reversals and capitalise on new trading opportunities.
Always remember to use this indicator in conjunction with other technical analysis tools for the best results.
Additionally, you can enable alerts to notify you when the price takes out high or low levels, helping you stay informed about significant price movements.
This indicator could be a valuable tool for traders looking to identify key price points for potential trading opportunities.
As always with the markets, Trade Safe :)
Strong Demands & Supplies + Liquidity | Zonas de Compra e VendaThis indicator is inspired on the Smart Money Concepts indicator (Credits to @LuxAlgo) and it was optimized to show only the most relevant demand and supply zones (premium) on every time frame - but on higher time frames (1H and above) the zones are more relevant and stronger, meaning these zones can handle the price for longer time.
I've added a new feature that includes the Liquidity lines in order to add more confluence and importance to a demand or supply zone: when a demand or supply zone has strong liquidity (like weekly or monthly) next to it means that zone can be a strongest price target.
- Blue Line: Daily liquidity
- Yellow Line: Weekly Liquidity
- Purple Line: Monthly Liquidity
Main Features:
- Displays the most relevant demand and supply zones (green and red boxes) and which ones are strong and weak
- Displays the relevant change of character and break of structure
- Displays the previous day highest price and previous day lowest price
- Display imbalances between sell and buy orders (purple boxes)
- Displays the liquidity areas with lines on each point.
- It works for Forex and Cryptocurrency as well.
Portuguese:
Este indicador é inspirado no Smart Money Concepts (Créditos para @LuxAlgo) e foi otimizado para mostrar apenas as zonas de procura e oferta mais relevantes em cada time frame - mas em time frames maiores as zonas são mais relevantes e mais fortes.
Adicionei uma nova funcionalidade que inclui as linhas de Liquidez de forma a adicionar mais confluência e importância a uma zona de procura ou oferta: quando uma zona de procura ou oferta tem forte liquidez (como semanal/linha amarela ou mensal/linha roxa) junto a ela significa que aquela zona pode ser um alvo de preço mais forte.
- Linha Azul: Liquidez diária
- Linha Amarela: Liquidez Semanal
- Linha Roxa: Liquidez Mensal
Principais características:
- Exibe as zonas de procura e oferta mais relevantes (zonas a verde e zonas a vermelho) e quais delas são fortes e fracas
- Exibe a mudança relevante de caráter e quebra de estrutura
- Exibe o preço mais alto do dia anterior e o preço mais baixo do dia anterior
- Exibe as imbalances entre as ordens de venda e compra (zonas a roxo)
- Exibe as zonas de maior liquidez através de linhas no gráfico
- Funciona tanto para Forex como para Criptomoedas
Futures SignalThis is a Futures Signal Indictor works using support & resistance and market trend, it is designed for all type of markets (crypto, forex, stock etc.) and works on all commonly used timeframes (preferably on 5 Min, 15 Min Candles).
How it works Futures Signal Indictor :
Core logic behind this indicator is to finding the Support and Resistance , we find the Lower High (LH) and Higher Low (HL) to find the from where the price reversed (bounced back) and also we use a custom logic for figuring out the peak price in the last few candles. Based on the multiple previous Support and Resistance (HH, HL, LL LH) we calculate a price level, this price level is used a major a factor for entering the trade. Once we have the price level we check if the current price crosses that price level, if it crossed then we consider that as a long/short entry (based on whether it crosses resistance or support line that we calculated). Once we have pre long/short signals we further filter it based on the market trend to prevent too early/late signals. Along with this if we don't see a clear trend we do the filtering by checking how many support or resistance level the price has bounced off:
Stop Loss and Take Profit: We have also added printing SL and TP levels on the chart to make the it easier for everyone to find the SL/TP values. Script calculates the SL value by checking the previous support level for LONG trade and previous resistance level for SHORT trades. Take profit are calculated in 0.5 ratio as of now.
Long: To open a trade in the direction of market rise
Short: To open a trade in the direction of market decline
Entry Price: Signal entry price
TP: Points where you can place a target
Stop: The point at which the deal is closed.
My LONG and SHORT signals and Bullish and Bearish by seatripsLONG and SHORT signal generation:
The LONG and SHORT signals in this script are generated based on a combination of sentiment, price strength, and volume strength calculations. The following parameters and calculations are used in determining these signals:
Sentiment: The sentiment is calculated using a Simple Moving Average ( SMA ) of the SMO (oscillator) over a specified sentiment_length.
Price Strength: The price strength is calculated as the percentage change in the closing price compared to the previous closing price.
Volume Strength: The volume strength is calculated as the percentage change in the trading volume compared to the previous trading volume .
Custom Oscillator: This oscillator is calculated as the difference between price strength and volume strength, followed by calculating its SMA over a specified strength_length.
The LONG signal is triggered when:
The sentiment_diff (difference between the oscillator and the SMA oscillator) is greater than 0, and the close price is greater than the fast EMA ( Exponential Moving Average ) of the close price, OR
The custom oscillator crosses over its SMA , and the close price is greater than the open price, and the close price of the previous period is greater than the close price of two periods ago.
The SHORT signal is triggered when:
The sentiment_diff is less than 0, and the close price is less than the fast EMA of the close price, OR
The custom oscillator crosses under its SMA , and the close price is less than the open price, and the close price of the previous period is less than the close price of two periods ago.
Color change description:
The color change in this script is based on the relationship between the close price and the highest/lowest SMAs of the high/low price over a specified lengthInputRoR. The following colors are used:
Green: Bullish area (close price is greater than the highest SMA of the high price)
Red: Bearish area (close price is less than the lowest SMA of the low price)
Yellow: Neutral area (close price is between the highest and lowest SMAs of the high and low prices)
Color meaning description:
Yellow (Neutral Area): This color indicates that the close price is between the highest and lowest SMAs of the high and low prices, signaling more caution and uncertainty in the market.
Green ( Bullish Area): This color represents a bullish market condition where the close price is greater than the highest SMA of the high price, suggesting a higher probability of a successful LONG position.
Red ( Bearish Area): This color signifies a bearish market condition where the close price is less than the lowest SMA of the low price, indicating a higher probability of a successful SHORT position.
Support and Resistance lines explanation:
Support and resistance lines are calculated based on the highest and lowest prices over a specified number of periods. These lines are used to identify significant price levels where the market may experience increased buying or selling pressure.
Resistance: The resistance line is calculated using the highest high price over a specified number of periods. This line represents a price level where selling pressure is expected to increase, making it more difficult for the price to rise further. Traders often consider resistance levels as potential entry points for SHORT positions or exit points for LONG positions.
Support: The support line is calculated using the lowest low price over a specified number of periods. This line represents a price level where buying pressure is expected to increase, making it more difficult for the price to fall further. Traders often consider support levels as potential entry points for LONG positions or exit points for SHORT positions.
The resistance and support lines are plotted using different colors to help traders visualize the important price levels where the market may experience a reversal or consolidation.
Final Words:
This script provides LONG and SHORT signals and alerts based on a combination of sentiment, price strength, and volume strength calculations. It is designed to serve as a high-quality aid for executing well-informed trading ideas. However, it's important to note that the LONG and SHORT signals and alerts generated by this script should not be considered as trading advice. Traders should always conduct their own research and analysis before making any trading decisions. The script aims to assist in visualizing important market trends and price levels, helping traders make more informed decisions based on their personal trading strategies.
support and resistance on multi timeframe [parsimaj] Description:
support and resistance and trendline on two timeframes by your choice
This indicator is capable of showing you the current and higher timeframe support and resistance by your strategy choice (two timeframes alongside each other). It also helps you to monitor the trend direction in short and long term by trend lines . You can change the depth of every levels and trend lines from the panel. Use this indicator in all markets because it follows the basic principles of levels but is unique in changing second timeframe by your choice.
_its smart , if the levels are too close together ,it will choose the deeper ones for you.
How it works:
By default, there is no higher timeframe and you can select your desire higher timeframe from the panel. Higher timelines will be displayed thicker and your current levels would be thin lines. (Levels that are higher than the current price will be red and those that are lower will be green). The number of levels to display is also by your choice, the default is 4 levels for each timeframe.
We have two types of trend lines , long terms as trend 1 (blue below and purple above trend line )- short term as trend 2(dashed ones).
Bouncing on levels and breaking trend line are the best triggers for entry and exit points.
Setting:
First, choose your higher timeframe then the depth of levels for each time (current and higher), The deeper it is, the more precise the lines. After that you can set the depth of trend lines by your choice. Trend 1 is the longer term So put it deeper and then set the short trend line (dashed ones) if you want to change it.
We have put the settings in the best mode, but you can also change it according to your strategy and inform us about the results.
This indicator has been obtained with hours of effort and codding , hope you enjoy
RESISTANCE & SUPPORTThis script is generate multiple types of resistance line which later work as support too on daily time frame.
this is not final breakout line but give you approx. idea about the support and resistance using this script.
No of lines are below
1) Pullback Line
this line is generated when close >= close and close >= close
means 2 days straight todays close is below its previous days close, with rising volume.
2) Rising Line
this line is generated when close > close and close > close
means 2 days straight todays close > previous days close, with rising volume.
3) Vshape Line
this line is generated when close > close and close < close
means todays close above previous days close and previous days close is below its previous days close, with rising volume.
4) 2 Bar Fail Line
this line is generated when close < open and close >= open and open >= close and close < close
means todays close < open and previous day close >= previous day open and todays open >= previous day close and todays close < previous days close, with decreasing in volume.
Order Blocks GenieThe purpose of this Genie Algorithm Indicator is to identify Zones of institutional interest , including Order Blocks , while marking the Full Range Zones as well, with powerful smart tracking algorithm to mark and remove the appropriate levels to take for entries.
Order Blocks can be observed at the beginning of a strong, aggressive move, leaving behind a zone to be revisited later for "balance" the market. Therefore, these are interesting levels to place Limit/Market orders (Sell the Peaks or Buy the Valleys).
A Bullish Order Block is the last Bearish candle of a downtrend before a sequence of Bullish candles (thus forming a "Valley"). While a Bearish Order Block is the last Bullish candle of an uptrend before a sequence of Bearish candles (thus forming a "Peak").
Prices of the levels could be printed on the Price Scale, as well as many detailed configurations of what activates these Peak/Valleys (Zones) such as a Breakout, Close, Hard Close or Full Close. See the Tooltips in the Settings for all details of each option.
The strategy is to take the Untested Levels as long as the chart is maintaining the trend (ladder), preferably going with the trend for a higher win rate (or against it for a quick scalp). Be mindful of the breaking of a ladder or building of a new one. A ladder breaks with a hard close of a candle across the closest two levels; a ladder builds by not breaking back down across the levels it has tested. Strong ladders will have a few untested levels and come back to wick them but still retain the structure of the laddering direction (trending with Lower Lows + Lower High or Higher Lows + Higher Highs).
------------
Definitions:
1st Zone: The zone between the start of the initial candle of the Full Range (backside edge) to the 50% of Full Range Line (Average, aka. Equilibrium).
2nd Zone: The zone between 50% of Full Range Line (Average, aka. Equilibrium) to the 50% of Order Block (final candle left behind in the range before the aggressive move out).
Full Zone: 1st + 2nd Zones together.
Line: placed first at 50% of Full Range, and in specific cases gets moved to the 50% of Order Block.
Rules (in order):
- Wick Line: Mark Line Tested (light color)
- Close Beyond the Zone: Invalidate Full Zone (Remove Full Zone + Remove Line)
- Hard Close anywhere inside the Zone: Invalidate Full Zone (Remove Full Zone + Remove Line)
- Close inside 2nd Zone: Invalidate Full Zone (Remove Full Zone + Remove Line)
- Close inside 1st Zone: Shrink 1st Zone + Keep 2nd Zone + Move Line to 50% of Order Block
- Wick inside (or beyond) 2nd Zone before shrinking: Shrink 1st Zone + Keep 2nd Zone + Move Line to 50% of Order Block
Trend Reversal PredictorThis is a predictive indicator which count bars upon rules and tries to predict the price reversals...
Numbers occuring above the bars tells you:
Green Numbers from 1 to 9 tells us there would be a possible SELL signal after the number 9 and if it's M9 that signal could be a stronger one.
1 from 9 must count consecutively and controls the situation that current bar's close is bigger than 4 bars before. Counting will be terminated if any of the bars don't comply this rule. The process must be consecutive and interruption of it starts over the bar counting process.
Red Numbers from 1 to 9 tells us there would be a possible BUY signal after the number 9 and if it's M9 that signal could be a stronger one.
1 from 9 must count consecutively and controls the situation that current bar's close is smaller than 4 bars before. Counting will be terminated if any of the bars don't comply this rule. The process must be consecutive and interruption of it starts over the bar counting process.
Support And Resistance Levels:
Support And Resistance Levels occur after counting from 1 to 9 completed.
Green 9's become much more reliable SELL signals as long as they occur much closer to the resistance lines.
Red 9's become much more reliable BUY signals as long as they occur much closer to the support lines.
Numbers occuring below the bars tells you:
Green Numbers from 1 to 13 starts to count after a Green 9 or M9 and tells us there would be a possible SELL signal after the number 13.
1 from 13 may be interrupted and can continue later on. After occurance of Green 13 one would predict that uptrend might weaken.
This process controls the situation that current bar's close is bigger than or equal to the highest price of 2 bars earlier. Counting will be paused if any of the bars don't comply this rule. The process doesn't have to be consecutive bu it will be terminated if RED 9 occurs above bars or breaks down the relevant support level.
Red Numbers from 1 to 13 starts to count after a Red 9 or M9 and tells us there would be a possible BUY signal after the number 13.
1 from 13 may be interrupted and can continue later on. After occurance of Red 13 one would predict that downtrend might weaken.
This process controls the situation that current bar's close is smaller than or equal to the lowest price of 2 bars earlier. Counting will be paused if any of the bars don't comply this rule. The process doesn't have to be consecutive bu it will be terminated if GREEN 9 occurs above bars or breaks up the relevant support level.
Support And Resistance Levels:
Support And Resistance Levels occur after counting from 1 to 13 completed.
Green 13's become much more reliable SELL signals as long as they occur much closer to the resistance lines.
Red 13's become much more reliable BUY signals as long as they occur much closer to the support lines.
Order Blocks & Breaker Blocks [LuxAlgo]The Order Blocks & Breaker Blocks indicator detects order blocks that can be turned into breaker blocks on the chart automatically once mitigated.
Users can determine the amount of bullish and bearish order/breaker blocks that display on their chart from within the settings menu.
🔶 SETTINGS
Swing Lookback: Lookback period used for the detection of the swing points used to create order blocks.
Show Last Bullish OB: Number of the most recent bullish order/breaker blocks to display on the chart.
Show Last Bearish OB: Number of the most recent bearish order/breaker blocks to display on the chart.
Use Candle Body: Allows users to use candle bodies as order block areas instead of the full candle range.
🔹 Style
Show Historical Polarity Changes: Allows users to see labels indicating where a swing high/low previously occurred within a breaker block.
🔶 USAGE
We have published several scripts covering the detection of order blocks previously, however, the concept of breaker blocks was not yet introduced.
When price mitigates an order block, a breaker block is confirmed. We can eventually expect price to trade back to this breaker block offering a new trade opportunity.
We can see that this is similar to a change in polarity, where a support becomes a resistance after a breakout and vice versa.
This script highlights regular order blocks as solid extended areas on the chart and breaker blocks as dashed lines with dual-colored areas. The color change and dashed line starts at the location where the order block was mitigated.
Using a higher "Swing Lookback" setting will return longer term order/breaker blocks on the chart.
Users can optionally enable "Historical Polarity Changes" labels within the settings menu to see where breaker blocks might have provided an effective trade setup previously.
The "Historical Polarity Changes" setting is disabled by default & is most effective using replay mode as the labels are backpainted.
The order blocks & breaker blocks themselves can be used in real-time as they are detected based on the swing length & previous breaker blocks being mitigated.
Trendlines, Support, Resistance and Fibonacci With AlertsHello Traders :)
I am Only Fibonacci.
I would like to give you detailed information about this indicator that I have prepared.
Within this indicator, you can see falling trends, rising trends, support and resistance, as well as Fibonacci levels.
I've prepared a few extra nice things for you. With this indicator, you can see the instant values of the active trend lines and their distance from the price. In my opinion, one of the best aspects of this indicator is that it can set alarms for automatically drawn trends. You can add alarms for both downtrend and uptrend.
The alarm is triggered at the break of the trend closest to the price.
Note: I do not recommend adding an alarm without thoroughly using the indicator.
We are now ready to introduce.
You can use this indicator in two languages. English and Turkish. The choice is yours.
When we enter the indicator settings, there is a group under the TREND heading. With the settings in this group, you can determine the sensitivity of the trends to be plotted. The lower the sensitivity, the less reliable the plotted trends will be. I am sure you will find the middle ground.
Trends are calculated by relationships between all detected peaks.
If you check the Show Data box, you can see the value of the active ( unbroken ) trends in the current candle. Sometimes it can create visual pollution. So you can remove it. Below will be a version view where the values of the trendlines are not visible.
If you don't want to see the trends on the chart at all, uncheck the Show Trends box.
One of our subtitles is Fibonacci.
When you enter the number of bars that need to be checked backwards, it finds the highest and lowest levels in the past bars, and automatically draws fibonacci levels on the screen with a beautiful visual.
If you don't want to see Fibonacci on your chart, you can uncheck the Fibonacci Show box.
Our last topic is support and resistances.
We need a certain sensitivity setting to see support and resistance on the chart. The sensitivity setting will provide you with more realistic data. I am sure that you can adjust the correct settings in this regard as well. If you don't want to see any or both support or resistance on the chart, you can uncheck the Show Resistance or Show Support boxes.
Alarm
Active downtrends and rising trends are kept on the chart. If you want to be notified on the falling trend break closest to the price, you should choose DownTrend Breakdown.
If you want to be notified on the breakout of the rising trend closest to the price, you should choose UpTrend Breakdown.
Visuality
Downtrends are covered by a filled line between the two points. It continues with a dashed line from the second peak to the active candle. When the trend is broken, it disappears. It is red in color.
Uptrends are covered by a filled line between the two points. It continues with a dashed line from the second bottom to the active candle. When the trend is broken, it disappears. It is green in color.
The resistances are determined to cover the entire wick from the starting point to the active candle. It is red in color. It disappears when the resistance is broken.
Supports are determined to cover the entire wick from the starting point to the active candle. It is green in color. It disappears when the support is broken.
Use the link below to access this indicator.
Rail Line Levels [s3]Plots support/resistance lines based on a neutral signal (white portion) of the Rail Line (variable moving average) for a period of time designated by the user (defaults to 9 bars). Support/Resistance lines will be removed after a period of tests and can be determined by the user (defaults to 26). Support/Resistance is deemed not as important or strong after several touches or tests. The trailer uses a combination of the calculation for the Rail Line (variable moving average) and an ATR to show the overall trend direction.
The indicator is centered around a Variable Moving Average. The Variable Moving Average (VMA) is a study that uses an Exponential Moving Average being able to automatically adjust its smoothing factor according to the market volatility.
In addition to the VMA, the indicator makes use of the ATR which measures market volatility by decomposing the entire range of an asset price for that period. The true range is taken as the greatest of the following: current high less the current low; the absolute value of the current high less the previous close; and the absolute value of the current low less the previous close.
The Strat [LuxAlgo]The Strat indicator is a full toolkit regarding most of the concepts within "The Strat" methodology with features such as candle numbering, pivot machine gun (PMG) highlighting, custom combo highlighting, and various statistics included.
Alerts are also included for the detection of specific candle numbers, custom combos, and PMGs.
🔶 SETTINGS
Show Numbers on Chart: Shows candle numbering on the chart.
Style Candles: Style candles based on the detected number. Only effective on non-line charts and if the script is brought to the front.
🔹 Custom Combo Search
Combo: User defined combo to be searched by the script. Combos can be composed of any series of numbers including (1, 2, -2, 3), e.g : 2-21. No spaces or other characters should be used.
🔹 Pivot Machine Gun
Show Labels: Highlight detected PMGs with a label.
Min Sequence Length: Minimum sequence length of consecutive higher lows/lower highs required to detect a PMG.
Min Breaks: Minimum amount of broken previous highs/lows required to detect a PMG.
Show Levels: Show levels of the broken highs/lows.
🔹 Pivot Combos
Pivot Lookback: Lookback period used for detecting pivot points.
Right Bars Scan: Number of bars scanned to the right side of a detected pivot.
Left Bars Scan: Number of bars scanned to the left side of a detected pivot.
🔹 Dashboard
Show Dashboard: Displays statistics dashboard on chart.
Numbers Counter: Displays the numbers counter section on the dashboard.
Pivot Combos: Displays pivots combo section on the dashboard.
%: Display the percentage of detected pivot combos on the dashboard instead of absolute numbers.
Pivot Combos Rows: Number of rows displayed by the "Pivots Combo" dashboard section.
Show MTF: Showa MTF candle numbering on the dashboard.
Location: Location of the dashboard on the chart.
Size: Size of the displayed dashboard.
🔶 USAGE
This script allows users with an understanding of The Strat to quickly highlight elements such as candle numbers, pivot machine guns, and custom combos. The usage for these concepts is given in the sub-sections below.
🔹 Candle Numbers
The Strat assigns a number to individual candles, this number is determined by the current candle position relative to the precedent candle, these include:
Number 1 - Inside bar, occurs when the previous candle range engulfs the current one.
Number 2 Up - Upside Directional Bar, occurs when the current price high breaks the previous high while the current low is lower than the previous high.
Number 2 Down - Downside Directional Bar, occurs when the current price low breaks the previous low while the current high is higher than the previous low.
Number 3 - Outside bar, occurs when the current candle range engulfs the previous one.
The script can highlight the number of a candle by using labels but can also style candles by depending on the candle number. Inside bars (1) only have their candle wick highlighted, directional bars (2) (-2) only have their candle body highlighted. Outside bars have their candle range highlighted.
Note that downside directional bars are highlighted with the number -2.
Users can see the total amount of times a specific candle number is detected on the historical data on the dashboard available within the settings, as well as the number of times a candle number is detected relative to the total amount of detected candle numbers expressed as a percentage.
It is also possible to see the current candle numbers returned by multiple timeframes on the dashboard.
🔹 Searching For Custom Combos
Combos are made of a sequence of two or more candle numbers. These combos can highlight multiple reversals/continuation scenarios. Various common combos are documented by The Strat community.
This script allows users to search for custom combos by entering them on the Combo user setting field.
When a user combo is found, it is highlighted on the chart as a box highlighting the combo range.
🔹 Pivot Combos
It can be of interest to a user to display the combo associated with a pivot high/low. This script will highlight the location of pivot points on the chart and display its associated combo by default. These are based on the Pivot Combo lookback and not displayed in real-time.
Users can see on the dashboard the combos associated with a pivot high/low, these are ranked by frequency.
🔹 Pivot Machine Gun (PMG)
Pivot Machine Guns (PMG)s describe the scenario where a single price variation breaks the value of multiple past successive higher lows/lower highs. This can highlight a self-exciting behavior, where even more past successive higher lows/lower highs get broken.
Users can select the minimum sequence length of successive higher lows/lower highs required for a PMG to be detected, as well the amount of these successive higher lows/lower highs that must be broken.
Strongest Supports And ResistancesDraws the best support and resistance lines. How it works:
1) Tries every possible line through lows, highs, opens, closes
2) Finds the total hit counts given the confidence interval as input to the candlesticks
3) Calculates the strength of every line according to hit count, total volumes on hits, and timestamps
4) Eliminates similar lines, confidence interval is set as input
5) Selects the strongest 20(changable as an input) lines and draws them on the graph.
Makes your work way easier!!!
Feel free to adjust the parameters for your own style!
Cheers!!
