Trend Continuation RatioThis TradingView indicator calculates the likelihood of consecutive bullish or bearish days over a specified period, giving insights into day-to-day continuation patterns within the market.
How It Works
Period Length Input:
The user sets the period length (e.g., 20 days) to analyze.
After each period, the counts reset, allowing fresh data for each new interval.
Bullish and Bearish Day Definitions:
A day is considered bullish if the closing price is higher than the opening price.
A day is considered bearish if the closing price is lower than the opening price.
Count Tracking:
Within each specified period, the indicator tracks:
Total Bullish Days: The number of days where the close is greater than the open.
Total Bearish Days: The number of days where the close is less than the open.
Bullish to Bullish Continuations: Counts each instance where a bullish day is followed by another bullish day.
Bearish to Bearish Continuations: Counts each instance where a bearish day is followed by another bearish day.
Calculating Continuation Ratios:
The Bullish Continuation Ratio is calculated as the percentage of bullish days that were followed by another bullish day:
Bullish Continuation Ratio = (Bullish to Bullish Continuations /Total Bullish Days)×100
Bullish Continuation Ratio=( Total Bullish Days/Bullish to Bullish Continuations )×100
The Bearish Continuation Ratio is the percentage of bearish days followed by another bearish day:
Bearish Continuation Ratio = (Bearish to Bearish Continuations/Total Bearish Days)×100
Bearish Continuation Ratio=( Total Bearish Days/Bearish to Bearish Continuations )×100
Display on Chart:
The indicator displays a table in the top-right corner of the chart with:
Bullish Continuation Ratio (%): Percentage of bullish days that led to another bullish day within the period.
Bearish Continuation Ratio (%): Percentage of bearish days that led to another bearish day within the period.
Usage Insights
High Ratios: If the bullish or bearish continuation ratio is high, it suggests a trend where bullish/bearish days often lead to similar days, indicating possible momentum.
Low Ratios: Low continuation ratios indicate frequent reversals, which could suggest a range-bound or volatile market.
This indicator is helpful for assessing short-term trend continuation tendencies, allowing traders to gauge whether they are more likely to see follow-through on bullish or bearish days within a chosen timeframe.
Bias
Engulfing Pattern & Impulse [UAlgo]The Engulfing Pattern & Impulse is a tool designed for technical traders who utilize price action and volume analysis to assess market trends and potential reversals. This indicator identifies two powerful trading signals: Engulfing Patterns and Volume Impulses, which are essential components for evaluating potential bullish or bearish market momentum.
Engulfing Patterns are classic candlestick formations often associated with reversals or trend continuations, depending on the overall trend context. This indicator highlights both bullish and bearish engulfing patterns based on configurable criteria such as trend detection settings, comparison with average body size, and a customizable body multiplier for validation. The Volume Impulse feature signals moments of significant volume compared to historical levels, which often precede substantial price movements. Together, these features provide traders with a versatile tool for better timing entry and exit points.
The indicator also offers an adaptive trend detection system, allowing traders to choose from multiple methods (e.g., SMA50 or SMA50/SMA200 combinations) to assess the trend context, making it ideal for various market conditions.
🔶Key Features
Engulfing Pattern Detection: Identifies bullish and bearish engulfing patterns with customizable parameters, including body length and average size comparison.
Configurable trend basis: Choose between SMA50 or SMA50 with SMA200 to define trend direction.
Body size multiplier: Adjust the size threshold for valid engulfing patterns, providing flexibility based on market conditions.
Volume Impulse Signal: Highlights volume spikes that meet or exceed a specified multiplier, which can indicate increased buying or selling interest.
Customizable volume period and multiplier: Allows you to tailor the volume impulse detection based on the instrument’s average volume behavior.
Trend Detection Options: Select different trend detection methods to suit various trading styles and instruments.
SMA50-based detection: Classifies the trend based on the position of price relative to the 50-period SMA.
SMA50 and SMA200 combination: Incorporates a dual-moving average approach, classifying trends based on the relationship between price, SMA50, and SMA200.
Enhanced Visualization: Distinguishes bullish and bearish signals with customizable colors, providing clear and immediate visual cues for easy interpretation.
Custom label colors: Allows you to set distinct colors for bullish, bearish, and neutral signals for quick identification.
Pattern filtering: Enable or disable specific patterns (Bullish, Bearish, or Both) based on your trading preferences.
🔶 Interpreting Indicator
Bullish Engulfing Pattern: Indicates a potential bullish reversal in a downtrend. This signal occurs when a white candlestick with a body size exceeding a specified multiplier completely engulfs the previous black candlestick. The pattern will display a “BE” label below the candle if it meets the criteria, signaling potential upward momentum.
Bearish Engulfing Pattern: Indicates a potential bearish reversal in an uptrend. A black candlestick with a body size exceeding the specified multiplier fully engulfs the previous white candlestick, signaling possible downward movement. The “BE” label appears above the candle to denote this pattern.
Volume Impulse Up: Displays a “VI” label below the candle when the volume surpasses the defined multiplier, and the price closes higher than it opened, indicating strong upward buying interest.
Volume Impulse Down: Displays a “VI” label above the candle when the volume meets or exceeds the specified threshold, and the price closes lower than it opened, signaling strong selling pressure.
Indicator uses the SMA50 and SMA200 to determine trend direction due to their popularity in technical analysis as indicators of medium- and long-term trends. The SMA50 reflects the average price over the past 50 periods, providing insight into intermediate trends, while the SMA200 is often used to identify the broader trend direction. These SMAs help traders quickly assess whether the market is in an uptrend, downtrend, or consolidation phase, enhancing decision-making for both short-term and long-term strategies.
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Bias TF TableThis indicator is a technical analysis tool designed to evaluate the price trend of an asset across multiple time frames (5 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, daily, and weekly).
Main Functions:
Directional Bias: Displays whether the trend is bullish (Up) or bearish (Down) for each time frame, using the closing price in comparison to a 50-period exponential moving average (EMA).
Table Visualization: Presents the results in a table located in the bottom right corner of the chart, making it easy to read and compare trends across different time intervals.
This indicator provides a quick and effective way to assess market direction and make informed trading decisions based on the trend in various time frames.
Bias Finder [UAlgo]The "Bias Finder " indicator is a tool designed to help traders identify market bias and trends effectively. This indicator leverages smoothed Heikin Ashi candles and oscillators to provide a clear visual representation of market trends and potential reversals. By utilizing higher timeframes and smoothing techniques, the indicator aims to filter out market noise and offer a more reliable signal for trading decisions.
🔶 Key Features
Heikin Ashi Candles: The indicator uses Heikin Ashi candles, a special type of candlestick that incorporates information from the previous candle to potentially provide smoother visuals and highlight potential trend direction.
Oscillator: The indicator calculates an oscillator based on the difference between the smoothed opening and closing prices of a higher timeframe. This oscillator helps visualize the strength of the bias.
Light Teal: Strong bullish trend.
Dark Teal: Weakening bullish trend.
Light Red: Strong bearish trend.
Dark Red: Weakening bearish trend.
Standard Deviation: The indicator can optionally display upper and lower standard deviation bands based on the Heikin Ashi high and low prices. These bands can help identify potential breakout areas.
Oscillator Period: Adjust the sensitivity of the oscillator.
Higher Timeframe: Select a timeframe for the Heikin Ashi candles and oscillator calculations (must be equal to or greater than the chart's timeframe).
Display Options: Choose whether to display Heikin Ashi candles, market bias fill, standard deviation bands, and HA candle colors based on the bias.
Alerts: Enable/disable specific alerts and customize their messages.
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
ICT Daily Bias by Fahmi EshaqICT Daily Bias helps us determine where the market is likely to go for the day. The ICT Daily Bias tool aids in forecasting the likely direction of the market for the day. It delineates the previous day's high and low levels, providing insights into potential price movements whether the market is expected to touch the previous day's high or low.
TTrades Daily Bias [TFO]Inspired by @TTrades_edu video on daily bias, this indicator aims to develop a higher timeframe bias and collect data on its success rate. While a handful of concepts were introduced in said video, this indicator focuses on one specific method that utilizes previous highs and lows. The following description will outline how the indicator works using the daily timeframe as an example, but the weekly timeframe is also an included option that functions in the exact same manner.
On the daily timeframe, there are a handful of possible scenarios that we consider: if price closes above its previous day high (PDH), the following day's bias will target PDH; if price trades above its PDH but closes back below it, the following day's bias will target its previous day low (PDL).
Similarly, if price closes below its PDL, the following day's bias will target PDL. If price trades below its PDL but closes back above it, the following day's bias will target PDH.
If price trades as an inside bar that doesn't take either PDH or PDL, it will refer to the previous candle for bias. If the previous day closed above its open, it will target PDH and vice versa. If price trades as an outside bar that takes both PDH and PDL, but closes inside that range, no bias is assigned.
With a rigid framework in place, we can apply it to the charts and observe the results.
As shown above, each new day starts by drawing out the PDH and PDL levels. They start out as blue and turn red once traded through (these are the default colors which can be changed in the indicator's settings). The triangles you see are plotted to indicate the time at which PDH or PDL was traded through. This color scheme is also applied to the table in the top right; once a bias is determined, that cell's color starts out as blue and turns red once the level is traded through.
The table indicates the success rate of price hitting the levels provided by each period's bias, followed by the success rate of price closing through said levels after reaching them, as well as the sample size of data collected for each scenario.
In the above crude oil futures (CL1!) 30m chart, we can glean a lot of information from the table in the top right. First we may note that the "PDH" cell is red, which indicates that the current day's bias was targeting PDH and it has already traded through that level. We might also note that the "PWH" cell is blue, which indicates that the weekly bias is targeting the previous week high (PWH) but price has yet to reach that level.
As an example of how to read the table's data, we can look at the "PDH" row of the crude oil chart above. The sample size here indicates that there were 279 instances where the daily bias was assigned as PDH. From this sample size, 76.7% of instances did go on to trade through PDH, and only 53.7% of those instances actually went on to close through PDH after hitting that level.
Of course, greater sample sizes and therefore greater statistical significance may be derived from higher timeframe charts that may go further back in time. The amount of data you can observe may also depend on your TradingView plan.
If we don't want to see the labels describing why bias is assigned a certain way, we can simply turn off the "Show Bias Reasoning" option. Additionally, if we want to see a visual of what the daily and weekly bias currently is, we can plot that along the top and bottom of the chart, as shown above. Here I have daily bias plotted at the top and weekly bias at the bottom, where the default colors of green and red indicate that the bias logic is expecting price to draw towards the given timeframe's previous high or low, respectively.
For a compact table view that doesn't take up much chart space, simply deselect the "Show Statistics" option. This will only show the color-coded bias column for a quick view of what levels are being anticipated (more user-friendly for mobile and other smaller screens).
Alerts can be configured to indicate the bias for a new period, and/or when price hits its previous highs and lows. Simply enable the alerts you want from the indicator's settings and create a new alert with this indicator as the condition. There will be options to use "Any alert() function call" which will alert whatever is selected from the settings, or you can use more specific alerts for bullish/bearish bias, whether price hit PDH/PDL, etc.
Lastly, while the goal of this indicator was to evaluate the effectiveness of a very specific bias strategy, please understand that past performance does not guarantee future results.
Unbiased Replay CompanionWhen using bar replay mode on TradingView, you have to scroll your way back through clearly visible price history, which always leaves you with unwanted lookahead bias because you unfortunately see all future price movements before they are hidden by the use of the scissors tool.
This indicator provides a simple way to hide all the price action and displays a configurable bar counter instead, allowing you to scroll back to every moment in history without seeing any of the prices' movements. The bar counter hereby serves as a visual aid to guide you back to the very first available bar on the chart.
You can configure the color of the overlay to match your charts' background as well as the style of the bar counter and the distance at which the counter is being displayed.
The indicator crops the vertical price scale by a random amount (only when it is being displayed) to also prevent you from having any unwanted bias based on the current price range.
Whenever you're done scrolling and have used the replay scissors tool to start your session just hide the indicator and bring it up again when you need to scroll. That's all there is to it.
Important: After you apply the indicator to your charts, make sure it is displayed in front of everything else. You can configure this by clicking on the three dots that are displayed on the right side of the indicator name on hover and choose "Visual order > Bring to front" from the popup menu that appears.
Enjoy your unbiased backtesting sessions!
Directional Bias [AlgoAlpha]The Directional Bias indicator is a premium script expertly crafted to enhance market trend visualization on trading charts. This sophisticated tool is designed to intuitively indicate the market's directional bias, aiding traders in making informed decisions on lower time frames.
Highlighted Features:
Intuitive Trend Visualization: The script employs a color-coded system for candles, simplifying the process of trend identification
Customizable Aesthetics: Users have the option to personalize the visual elements, including candle colors, to suit their preferences and enhance chart readability.
Advanced Logic: The script is built on a proprietary algorithm that analyzes candlestick patterns to determine the current trend direction.
Key Benefits:
Enhanced Decision Making: By offering a clear depiction of the market's directional bias, the indicator assists traders in making more informed entry and exit decisions, particularly suited for quick decision-making on lower timeframes.
Adaptability to Market Conditions: The script dynamically adjusts to changing market conditions, providing relevant and timely indications of trend changes or continuations.
Versatile Application: Suitable for various trading styles, the indicator can be effectively used in day trading, scalping, or even in longer-term trading strategies, depending on the timeframe selected.
Summary:
The "Directional Bias" indicator stands out as a vital tool for traders focusing on lower timeframes, offering an intuitive, customizable, and dynamic approach to trend visualization. Its advanced proprietary logic and user-friendly interface make it a valuable asset in a trader's toolkit, enhancing the ability to quickly interpret and react to market movements.
Dynamic Trend Hunter [Quantigenics]The "Dynamic Trend Hunter” script focuses on trend identification, dynamic entry and exit signals, and effective risk management. While a standalone trading script designed for versatile application across all markets, it can also be complemented by other indicators for enhanced analysis.
Core Features:
Dynamic Trend Indicator: Central to the script, this indicator discerns market trend direction using a color-coded system. Blue indicates an uptrend, red a downtrend, and a flat line signifies a sideways market.
Buy and Sell Signals: Provides clear, on-chart buy and sell signals to assist in identifying optimal entry points in alignment with the trend.
Profit Target Exits: A key feature designed to help traders lock in profits at strategic points. This feature uses a sophisticated mechanism (outlined in more detail below) to identify potential exit points, signaling the trader to close a position and secure gains before a potential market reversal.
Dynamic Stop Loss Levels: Essential for risk management, these levels adjust automatically, providing a mechanism for trailing stop losses and safeguarding against adverse market movements.
Technical Composition:
Dynamic Trend Indicator:
Calculation Method: Utilizes a blend of the highest and lowest prices over a specified length, averaged to create a trend line. This line is helpful in identifying the overall market trend.
Color Coding: The trend line changes color based on its relation to price action. A blue line indicates an uptrend when prices are consistently above this average line, while a red line signifies a downtrend when prices stay below it.
Signal-Based Trading:
Trend Entry Signals: Generated when there's a shift in the color of the trend line, indicating a potential change in market direction.
Pullback Entries: Identified when the closing price crosses the previous high (for long entries) or low (for short entries), while also considering the current trend line position.
Dynamic Stop Loss Levels:
Calculation: Stop loss levels are dynamically determined using the highest and lowest closing prices over the 'Length' period. These levels adjust with market movements, providing a trailing stop loss mechanism.
Visualization: Depicted as colored dots on the chart, changing in response to the market's movement relative to the trend line.
Oscillator for Dynamic Exits:
Mechanism: The script employs an oscillator to identify potential exit points, signaled by yellow dots. This oscillator is based on the relative extremity of the current price action compared to recent price movements.
Alerts: Dynamic exits trigger alerts when the oscillator reaches specified threshold levels, signaling potential market reversals or exhaustion points.
Customization and Flexibility:
Length Adjustment: The primary 'Length' input parameter allows traders to modify the sensitivity of the trend line and stop levels, catering to different trading styles and market conditions.
Alert Customization: Traders can set alerts for trend line changes and dynamic exits, ensuring timely responses to market movements.
Input Parameter Settings:
Intra-Bar Order Generation (IntraBar): Enables real-time signal generation within the current bar or after its closure.
Dynamic Exits (DynamicExits): Toggles the visibility of dynamic exit signals for profit-taking.
Dynamic Trend Length: Defines the lookback period for calculating the trend line. This length, which is adjustable and set by default to 21, specifies the number of bars over which the highest and lowest prices are analyzed to determine the trend line.
Dynamic Stop Loss Levels Length: This parameter defines the lookback period for calculating stop loss levels. It sets the number of bars used to determine the highest and lowest values for stop loss positioning. Adjusting this length allows traders to customize the sensitivity and placement of stop loss levels in accordance with their trading strategy and risk tolerance. This feature is crucial for tailoring stop loss settings to different market conditions and volatility levels, ensuring more effective risk management. Note: that initial stop loss levels, and tighter stop losses, can be set behind the Dynamic Trend Line itself.
Show Trend/Pullback Entries: Controls the display of specific entry signals based on trend continuation or market pullbacks.
Alert Settings: Options for setting alerts on trend line changes and dynamic exits, enhancing trade management.
Customizable Colors: Allows personalization of stop level and trend line colors for better chart visualization.
How to Trade with the Dynamic Trend Hunter:
Trend Following: Enter trades in the direction of the trend indicated by the color-coded trend line.
Pullback Entries: Look for pullback entry signals during established trends for additional entry points.
Dynamic Exits: Use yellow dot signals and dynamic stop loss levels for determining exit points or to adjust stop losses.
Risk Management: Employ the dynamic stop loss levels to manage risk effectively and protect against significant losses.
Alerts and Notifications:
Traders can set up alerts for trend line changes and dynamic exits, ensuring they are promptly informed about critical market movements and can react accordingly.
Conclusion:
The "Dynamic Trend Hunter " is a comprehensive and adaptable trading tool, suitable for various market conditions and trading styles. Its ability to provide clear trend indications, along with dynamic entry and exit signals, makes it an invaluable asset for traders aiming to enhance their market analysis and decision-making process. While it is a standalone system, it can be used in conjunction with other indicators to further refine trading strategies.
While we believe this tool may enhances your trading strategy, we encourage thorough familiarization before live trading. Remember, trading involves risk, and past performance is not indicative of future results.
You can see the “Author’s instructions" below to get immediate access to Dynamic Trend Hunter & the rest of the “Quantigenics Premium Indicator Suite”.
Bimmeresty's MACDImproved MACD with labels on histogram and color change feature on signal line.
Labels on histogram help gauge how strong the change is rather than visually comparing heights.
example: "histogram just put in its first rising candle, but its only rising by 0.01 therefore i should be suspicious of it and possibly wait for a second rising candle for further confirmation of reversal"
Color change on signal slope is better for gauging the directional bias and spotting reversals.
example: "slope is red, so negative, so i should prioritize shorts"
example: "slope just turned green, so positive, so we might be reversing bias here"
*Predictive Volume + HTF [Free]*"Predictive Volume + HTF " is a predictor of real-time to near-future volume % change on the current chart and the next highest time frame. The script calculates the volume's % change (Pred Vol) between Current Volume vs. Previous Volume by predicting whether Pred Vol will be higher or lower at the end of the current bar using an "elapsed time" vs "volume so far" concept. This gives the benefit of the most up-to-date information without artificial low/high comparisons when a bar has just formed. For example, it would be common to see -100% in a lot of instances when a new bar is just forming which would be normal because volume at the start of a new candle will generally be lower than where it was when the last bar closed. Where this indicator shines is during this old to new bar formation and the volume that's carried over to the new bar. As a result, it will now be common to see Pred Vol values starting much higher because the calculation is dividing up the bar and analyzing fractions of it instead of the entire bar that would otherwise lead to these incorrect volume % change calculations.
A few examples of Predictive Volume % Change:
In addition, this indicator uses many advanced and dynamic features:
⚡ Matrices that create the table, allowing you to add and remove columns to customize the table to show only the information that's important to you
⚡ View 2 time frames at once - meaning every time you switch time frames, the table will auto-adjust to show the next highest time frame, or "HTF"
⚡ Header function that keeps you aware of the ticker, time frame and session that you're on at all times (can use in lieu of TV's watermark feature, or use together)
⚡ Timer that shows you when a bar will begin/end
⚡ Includes the following popular time frames: 1m, 3m, 5m, 10m, 15m, 30m, 1h, 2h, 4h, 8h, 1d, week, month
⚡ 3 "bias mode" choices that use Relative Volume (RVOL) from calculations between Current, Previous & Average Volume that provide a visual with varying degrees of color representing buying & selling momentum of your favorite asset. Traders generally have an innate bias when it comes to their trading methodology. Of course it can change quickly depending on current market structure. The script's author created separate modes to account for these biases. One way to utilize the indicator is to use 2 on your chart with 1 Bullish bias \"middle right\" and another Bearish bias \"lower right\" to see if volume pressure is skewed towards your particular bias by showing how many colored boxes there are on each table.
⏩ Standard - 🟢🔴 - displays green and red to depict volume momentum using same RVOL calculations as Bullish & Bearish modes
⏩ Bullish - 🐂🐂 - displays 5 colors to represent the levels of intensity of the Buy/Sell/RVOL data (light blue, green, yellow, light orange, dark orange)
⏩ Bearish - 🐻🐻 - displays 5 colors to represent the levels of intensity of the Buy/Sell/RVOL data (light red to dark purple)
Ex. of all 3 bias modes during a burst of bullish volume momentum:
Ex. of all 3 bias modes during a burst of bearish volume momentum:
⚡ 2 alert types: 1 bullish & 1 bearish with 2 levels for each
⏩ The PREDEFINED ALERTS consist of 2 Bullish & Bearish levels with Lvl 1 designed to be less sensitive than Lvl 2
⏩ Configurable for every time frame, "On Close" or "Each Bar". On Close could be a better choice on lower time frames so that you're not getting a bunch of triggers over a short duration & Each Bar could be a better option for higher time frames so that you don't miss a move mid bar for instance
⏩ Creating a PREDEFINED BULLISH/BEARISH ALERT saves a snapshot of the alert's settings. You can then change the settings and create another alert. In this way, you can create multiple unique alerts
⏩ Create one alert for any alert type (bull and/or bear), for every time frame all at once, or you can create multiple & separate alerts, giving each one a unique name with the time frame that it's for: ex. BTC - Bullish Vol Lvl1 (1m)
In this example, you'll see what causes the alerts to trigger as well as how to create them and how they'll look when they do fire.
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It is with a sense of gratitude, appreciation and indebtedness to the coder of this script ©SimpleCryptoLife that I'm able to present this indicator to you after months of hard work. We hope that you find it invaluable during your own trading journey! Should you have any questions, feedback or critiques please do not hesitate to leave a comment.
daily bias @ttrades x joshuuuDaily bias is one of the most powerful tools when it comes to intraday trading.
Ttrades published a youtube video, in which he showcases his mechanical way of determing the daily bias based on ICTs and the MMXM Traders Teachings.
This indicator is based on those concepts.
The rules for this indicator are simple.
scenario 1 - first line of table
Close above previous days high gives a bullish bias.
Close below previous days low gives a bearish bias.
scenario 2 - second line of the table
Wick below previous days low and close within previous days body or above gives a bullish bias.
Wick above previous days high and close within previous days body or below gives a bearish bias.
"Bullish" bias is valid until previous daily high (pdh) is reached.
"Bearish" bias is valid until previous daily low (pdl) is reached.
If none of the above mentioned conditions is met OR the target (pdh/pdl) is reached, the bias is set to "Neutral".
On the daily timeframe, probabilities are visible on the table to reach pdh when the bias is "Bullish" or to reach pdl when the bias is "Bearish".
If the bias is bullish, the ideal buy would be below ny midnights opening price.
If the bias is bearish, the ideal sell would be above the ny midnights opening price.
ICT Daily Bias Finder [DTCC]What is This?
The ICT Daily Bias Finder uses a method called "DTCC" to identify the London and New York session's bias, bullish or bearish. This indicator should only be relied on for 5 minute, and not other timeframes.
How do I use it?
Look at the previous days two boxes (labeled DTCC Bear/DTCC Bull), if both are bullish or both are bearish it is NOT recommended to rely on DTCC for that day. If the first one is bullish and second one is bearish, the DTCC for the next day says that London session will turn ABOVE midnight opening price, while New York will turn UNDER midnight opening price (longs in London, shorts in New York). If the second one is bearish and the first is bullish, the DTCC for the next day says that London session will turn UNDER midnight opening price, while New York will turn ABOVE midnight opening price (shorts in London, longs in New York)
Emoji guide to DTCC indicator:
🟢🟢: Don't trust DTCC for that day
🔴🔴: Don't trust DTCC for that day
🟢🔴: Longs in London above Midnight Opening Price, Shorts in New York under Midnight Opening Price
🔴🟢: Shorts in London under Midnight Opening Price, Longs in New York under Midnight Opening Price
Reminder: NEVER rely solely on DTCC, DTCC can be wrong and is not right 100% of times.
biased_price_targetLibrary "biased_price_target"
Collection of functions that can be used for the calculation of biased price targets like stop loss and
take profit from a reference price using several methods that are already provided by the "distance_ratio" library plus
the 'HHLL'. Methods supported are percentagewise (PERC), atr-based (ATR), fixed profit (PROF), tick-based (TICKS),
risk reward ratio (RR), and highest high/lowest low (HHLL)
BIAS NotesUsage: This indicator allows you to note on your desired pair what is the current state of the trends.
!! How to use: You have to input the values for each table case to your desire in the indicator settings. !!
With this indicator you can note :
-what is the timeframe Bias
-which supply or demand we`ve just hit
I use this as a tool for my analysis with Insitutional Orderflow/SMC (Smart Money Concepts).
Tradesharpe Session BiasThis script is designed for traders who want help defining their session bias it is for people who trade in sessions which will most likely be 1 4h candle. The way I trade using Price action to get my daily bias, to either look for sells or buys or both I look at the previous daily candle close and previous 4hr candle close before analyzing the structure on the lower time frames to get my session bias of bullish/bearish. so this indicator compares the daily and 4hr candles to develop a bias for example
previous daily bullish + Previous 4hr Bullish = BULLISH BIAS
previous daily Bearish + Previous 4hr Bearish = BEARISH BIAS
if Daily bullish 4hr bearish = MIXED SESSION
if daily bearish 4hr bullish = MIXED SESSION
MIXED SESSION = Can argue both buys and sells
BEARISH SESSION = Best to look for Sells only based on my trading style
BULLISH SESSION = Best to look for Buys only based on my trading style
Timeframe Bias TableAllows you to display a bias for the W, D, 4h, 15m & 1m Timeframes based on your own analysis.
R2-Adaptive RegressionOVERVIEW
This is an implementation of alexgrover's R2-Adaptive Regression optimized for the latest version of TradingView.
Full details on the indicator are on alexgrover's page here:
Bias AnalyzerName: Bias Analyzer
Category: Market Analyzer
Timeframe: 1H and 1D, depending on the Analysis type.
Technical Analysis: Usually when we think about a Trading System we start from an idea. This idea comes normally from observation and the study of the market.
Have we ever observed a market - for example Bitcoin - and thought that it increases at the start of a USA session? Great, this is a well-known category of Trading System and the purpose of the Bias Analyzer is to study these phenomena.
There are different types of Trading System that we can classify considering the market in-efficiency that we use to our advantage. In this case we make the Bias. Literally "inclination" or "presupposition" or precisely "tendency" of the price to go up or down in a temporal way.
The characteristics of the Bias depend on how much the Bias is persistent on the market since the analysed period. therefore we can consider:
Hourly Bias : analysing the hourly behaviours during the week. Trades normally last from a few hours to a few days.
Seasonal Bias : analysing the behaviour of the weeks in the monthly or annual context, evaluating the seasons.
Suggested usage: The possibilities of the tool are infinite, these are some scenarios of use:
Development of Intraday Trading Systems based on Hourly Bias with possible filters for specific days of the week.
Development of a Multi-day Trading System based on daily Bias with monthly analysis.
To identify the best day to execute our investment through Dollar Cost Average with a bit of healthy buy the dip
Main features:
Hourly Summary organized in Week
The cells contain the sum of the various price deltas for the single hour. The transparency indicates the frequency in which the candles close positive or negative. This information is available both in a synthetic way, as in the first column "Sum", and for each day of the week.
Hourly Details organized in different entry/exit
Shows the cumulative data of the various deltas, considering the purchase and the sale at certain times. In the rows are represented the buying hours and in the columns the selling hours.
Daily Summary organized in Months
The cells contain the summation of the various price deltas for the single day.
Hourly Details organized in different entry/exit
Allows to visualise the detailed analysis table, choosing to do it for all the months or for a specific month and shows the cumulative data of the various deltas, considering the purchase and the sale in certain days.
Configuration: You can configure the tool easily and completely.
Analysis
Calculate from Close to Open : this is the core of the whole analysis where the "Price Delta" to be calculated is defined. At this moment there is the possibility to calculate the distance between opening and closing.
Calculate in Percent or Cash : this allows to calculate the Price Delta in Percent or in Cash.
Analysis on 1H Timeframe
Show Hourly Summary on : allows to visualise the summary analysis table of the week. The cells contain the sum of the various price deltas for the single hour. The transparency indicates the frequency in which the candles close positive or negative. This information is available both in a synthetic way, as in the first column "Sum", and for each day of the week. At the bottom left there is also data which allows us to understand how many candles are being analysed. At the bottom of each day it is possible to visualise the cumulative data of the day. The position of the table is customizable.
Show Hourly Details of on : allows to visualise the detailed analysis table, choosing to do it for all days or for a specific day, and shows the cumulative data of the various deltas, considering the purchase and the sale at certain times. In the rows are represented the buying hours and in the columns the selling hours. For example, going to the table "All Days" we can see in the cell of row 13 and in column 22 the cumulative data of a possible buy on 13 and a sell at the end of 22. To facilitate the research of the values there is a configurable transparency system.
Analysis on 1D Timeframe
Show Daily Summary on : allows to visualise the summary analysis table of the month. The cells contain the summation of the various price deltas for the single day: The first row is the summation of all days of the month for all months in the analysis period, while the other rows represent the analysis for the various days of the individual months.
Show Daily Details of on : allows to visualise the detailed analysis table, choosing to do it for all the months or for a specific month and shows the cumulative data of the various deltas, considering the purchase and the sale in certain days. In the rows are represented the buying days and in the columns the selling days. For example, going to the table "All Months" we can see in the cell at row 1 and at column 3 the cumulative of a possible purchase on the 1st and the sale on the 3rd. To facilitate the research of the values, there is a configurable transparency system.
Table Layout
Size : allows to define the size of the text in the table.
Precision : it is possible to define the decimal precision of the calculations presented in the tables.
Transparency Factor : allows the application of a multiplication factor when the table calculates the transparency of detail tables.
Colours : allows to specify the colours of Profit, Loss and Neutral, besides to adapt a style coherent with the Dark Mode or Light Mode of Trading View
Volatility Filter
It is possible to directly apply a filter to the time series on which the delta is calculated. The volatility filter uses the ATR - an indicator that allows you to calculate the volatility in a given period. Briefly: the higher the ATR value, the higher the volatility. Therefore the filter works by comparing the volatility on two periods and indicates compression or expansion.
Backtest Dates
In order to facilitate the identification of in-sample and out-of-sample data, as well as the degradation of a given behaviour, it is possible to specify a period in which to do the analysis.
Breakout Probability (Expo)█ Overview
Breakout Probability is a valuable indicator that calculates the probability of a new high or low and displays it as a level with its percentage. The probability of a new high and low is backtested, and the results are shown in a table— a simple way to understand the next candle's likelihood of a new high or low. In addition, the indicator displays an additional four levels above and under the candle with the probability of hitting these levels.
The indicator helps traders to understand the likelihood of the next candle's direction, which can be used to set your trading bias.
█ Calculations
The algorithm calculates all the green and red candles separately depending on whether the previous candle was red or green and assigns scores if one or more lines were reached. The algorithm then calculates how many candles reached those levels in history and displays it as a percentage value on each line.
█ Example
In this example, the previous candlestick was green; we can see that a new high has been hit 72.82% of the time and the low only 28.29%. In this case, a new high was made.
█ Settings
Percentage Step
The space between the levels can be adjusted with a percentage step. 1% means that each level is located 1% above/under the previous one.
Disable 0.00% values
If a level got a 0% likelihood of being hit, the level is not displayed as default. Enable the option if you want to see all levels regardless of their values.
Number of Lines
Set the number of levels you want to display.
Show Statistic Panel
Enable this option if you want to display the backtest statistics for that a new high or low is made. (Only if the first levels have been reached or not)
█ Any Alert function call
An alert is sent on candle open, and you can select what should be included in the alert. You can enable the following options:
Ticker ID
Bias
Probability percentage
The first level high and low price
█ How to use
This indicator is a perfect tool for anyone that wants to understand the probability of a breakout and the likelihood that set levels are hit.
The indicator can be used for setting a stop loss based on where the price is most likely not to reach.
The indicator can help traders to set their bias based on probability. For example, look at the daily or a higher timeframe to get your trading bias, then go to a lower timeframe and look for setups in that direction.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Market Bias (CEREBR)Hello Everyone. I hope you are all doing great. It's been a long time since I posted my first script here, and I got a lot of response from that.
So, I thought I should share this script also to everyone, and anyone that may find it useful. Personally, I use it to tell the general market conditions.
Here's how I works : The script tries to determine the overall direction of the market, using smoothed Heiken Ashi candles. The coloring system (using bright and dark colors) is an attempt to detect strong market and weak market conditions. There's also an oscillator within the script, but for now it isn't plotted. Credits to @jackvmk, I used part of his open-script code in this indicator.\
I have considered using the slope of the indicator plot as a filter for ranging market conditions. The plot goes relatively flat in 'flat' markets. However, I have not done anything about that yet. Maybe some other time.
I hope you find this useful. If you find a way to use this, please share it with the community in the comment section.
NOTE: THIS IS BY NO MEANS FINANCIAL ADVICE. You'll have to make your studies and come up with a way to apply this indicator to your trading style and strategy.
By the way, I would be going with the name 'CEREBR' for any subsequent scripts I release from now on.
Happy Trading, guys.
xBrat BIAS DEPTH HeatmapThis Trading Indicator is the "Go - No Go Gauge" for any trading signals strategy. A Sub-Chart that looks up 6 time frames and gives you real time BIAS. Bullish, Neutral or Bearish on each level. Making decisions, acting on trading signals easier! Only identifying those highest probability trades, no matter what signals trading indicator you are using. Ideal for Forex Trading, Futures Trading, Crypto Trading and Stocks Trading
This BIAS Depth Heatmap includes:
6 Levels of BIAS Depth
Scalping Setting
Day Trading Setting
Swing Trading Setting
And by only concentrating on trading the highest probability trades of any trading strategy, we can block out all the other noise and concentrate on a simple set of rules!
This is why our Founder, Paul Bratby, decided to help filter out all the noise and allow traders to see what's going off on higher timeframes "in depth" to help make those important trade entry decisions. This more global view of the BIAS DEPTH is designed to help traders make decisions faster!
Bias Master SystemName: Bias Master System
Category: Bias (Template/Master).
Operating mode: enters and exits at specific times of the day
Trades duration: a few hours, usually intra-day.
Timeframe: 1H.
Suggested usage: in markets where hourly biases are present.
Entry: enters long and short in predefined times, with possibility to manage trend or volatility filters.
Exit: exits in predefined times.
Usage: It can be used in a variety of ways:
- Together with the Bias Analyzer to quickly check the Bias found by the tool. This allows you to create profitable strategies in less than an hour, as an example the starting point with the Analyzer
- The strategy itself can be used to study the market for interesting biases.
- The strategy can be used as a starting code for the development of one's own strategies.
A tutorial with working examples on BTC and ETH is also available and will be provided with the access.
Configuration:
- Long Trades: possibility to specify two long trades configuration and filter them by day of the week, trend or volatility.
- Short Trades: possibility to specify two short trades configuration and filter then by day of the week, trend or volatility.
- Backtest dates: for splitting the available data in develop, test and validation.
- Results table: possibility to specify decimal precision and Dark Mode
Credits:
- QuantNomad for Results Table
Backtesting:
⁃ Exchange: BINANCE
⁃ Pair: ETHUSDTPERP
⁃ Timeframe: 1H
⁃ Fee 0.025%
