Candle Color RatioThe Candle Color Ratio indicator is designed to analyze the ratio of green (bullish) to red (bearish) candles over a specified lookback period. This ratio can offer insights into the prevailing market sentiment and potential trend reversals. The indicator calculates the number of green and red candles and provides two key metrics: the Green to Red Ratio and the Red to Green Ratio. Additionally, it allows users to set a threshold for these ratios to identify extreme sentiment conditions.
Calculations :
- Green Score and Red Score: The script first checks the color of the candles over a user-defined lookback period (up to 10 bars back). For each bar, it assesses whether the closing price is higher (green) or lower (red) than the opening price. The green and red scores are calculated by counting the number of green and red candles, respectively, within the lookback period.
- Green to Red Ratio: This metric is the ratio of the Green Score to the Red Score. It quantifies the relative prevalence of bullish candles compared to bearish candles within the specified lookback period. A higher Green to Red ratio indicates a stronger bullish sentiment.
- Red to Green Ratio: This metric is the inverse of the Green to Red Ratio. It calculates the relative prevalence of bearish candles compared to bullish candles within the lookback period. A higher Red to Green ratio indicates a stronger bearish sentiment.
Interpretation :
- Green Score and Red Score: These histograms display the raw counts of green and red candles within the lookback period. Traders can use these histograms to observe the recent distribution of bullish and bearish candles.
- Green to Red Ratio: This line graph represents the ratio of bullish candles to bearish candles. When this ratio is above 1, it indicates a predominantly bullish sentiment, suggesting potential upward momentum. Conversely, when it's below 1, it signifies a bearish sentiment, suggesting potential downward pressure.
- Red to Green Ratio: This line graph represents the inverse ratio, indicating the strength of bearish sentiment relative to bullish sentiment. Similar to Green to Red, values above 1 indicate a bearish bias, while values below 1 indicate a bullish bias.
- Ratio Threshold: The white horizontal line on the chart represents the user-defined threshold. Traders can set this threshold to identify extreme sentiment conditions. When either the Green to Red ratio or Red to Green ratio crosses the threshold, it may signal overbought (above threshold) or oversold (below threshold) market conditions.
Potential Applications:
- Trend Confirmation: Traders can use this indicator to confirm the prevailing trend. A strong GRratioScore may validate a bullish trend, while a strong RGratioScore may confirm a bearish trend.
Contrarian Signals: Extreme readings (crossing the threshold) can be interpreted as potential reversal points. For example, a very high GRratioScore followed by a crossover below the threshold might indicate an overbought market and a potential bearish reversal.
Divergence Analysis: Traders can analyze divergences between price movements and the indicator. If price makes higher highs while the indicator shows lower highs, it may signal a weakening bullish trend.
Limitations:
- Lookback Period: The indicator's effectiveness may vary depending on the selected lookback period. Longer periods smooth out fluctuations but may lag in capturing recent changes in sentiment.
- Threshold Sensitivity: The interpretation of extreme readings can be subjective. Traders should carefully select and adjust the threshold based on their trading strategy and market conditions.
- Lack of Context: This indicator solely focuses on candle color ratios and does not consider other factors like volume, market news, or fundamental analysis. It should be used in conjunction with other indicators and analysis techniques.
This indicator provides a simple yet valuable tool for assessing market sentiment and potential trend reversals based on candle color ratios. Traders can use this information to make informed trading decisions, but it's essential to consider its limitations and use it as part of a comprehensive trading strategy.
Candlestick analysis
Wick Percentage IndicatorIndicator for upper and lower wicks. One plot for upper wick, one for lower.
Percentage of wick is based on the opening price of the candle.
Candle GapsWhat This Indicator Does
This indicator shows you where the 'Gaps' are in the market ( as defined by this indicator ). The indicator draws a box that extends indefinitely to the right, this is the 'Gap'. This box will be 'Filled In' when price comes back and overlaps the box.
A Gap As Defined By This Indicator
A candle creates a 'Gap' in the area where there is no price action in front of, or behind ( up to 1 candle ) that area.
A 'Up Gap' is created when the close of a candle is above the high of the previous candle.
A 'Down Gap' is created when the close of a candle is below the low of the previous candle.
Both types of Gaps are coloured with the same colour.
Gaps are 'filled in' and disappear when price action crosses over them.
This indicator does not show gaps where there are no candlesticks.
The Intention Of This Indicator
The intention of this indicator is to make it possible to instantly identify Gaps in the market.
Gaps can be used as a confluence for a variety of different strategies.
Inputs
Gap Colour ( This changes the colour of the Gaps )
Draw Gaps From Wicks ( This changes whether the Gap begins to be drawn from the previous candles high/low, or from the candle the Gap occurs on )
Both inputs are for aesthetic preferences.
A maximum of 50 Gaps will be drawn on the chart at one time.
This indicator is not guaranteed to be 100% accurate.
Liquidity Hunter [ChartPrime]The Liquidity Hunter helps traders identify areas in the market where reversals may occur by analyzing candle formations and structures.
█ Wick-to-Body Analysis:
The Liquidity Hunter analyses each candlestick to identify those with distinctive wick-to-body ratios. By focusing on candles with significant wick imbalances, it can reveal potential liquidity absorption zones that may influence market behavior. Users can fine-tune this ratio to their preferences through customizable body% and wick% inputs, allowing for tailored analysis.
█ Body Size Significance:
To ensure the relevance and impact of its findings, this indicator evaluates the size of the candle body.
Only candles with bodies meeting a certain size threshold are considered, eliminating noise and highlighting candles of significance.
█ Dynamic Target Setting:
The Liquidity Hunter employs the Average True Range (ATR) as a foundation for target calculation. Users can adjust their trading targets by specifying a multiplier, offering flexibility in capturing potential profit or managing risk. Customizable target inputs ensure adaptability to your trading strategy.
█ Stop Loss Protection:
In addition to setting your profit targets, the Liquidity Hunter incorporates stop loss levels, safeguarding your investments from excessive risk. By implementing a well-balanced risk-reward ratio, users may be better at navigating market fluctuations.
█ Market Character Labels:
The Liquidity Hunter Indicator goes beyond basic analysis by detecting changes in market character. It identifies shifts in sentiment providing traders with invaluable insights into evolving market conditions.
█ Candle Color Highlighting:
To enhance user-friendliness and visualization, the indicator employs distinctive candle colors between trades. These color cues help you easily spot and interpret trading opportunities, drawing your attention to potential entry and exit points.
Overall this indicator is designed to help simplify liquidity analysis and give visual targets in a market.
Three Candle Rolling Pivot Range**Strategy Description: Three Previous Candle Rolling Pivot Range**
**Introduction:**
This trading strategy is based on the concept of the rolling pivot range calculated from the high, low, and close prices of the three previous candles. The rolling pivot range serves as a dynamic support and resistance level, and this strategy aims to capture potential trading opportunities based on the price relationship with this range.
**Strategy Components:**
**1. Rolling Pivot Range Calculation:**
- **Rolling Pivot:** Calculate the rolling pivot by averaging the high, low, and close prices of the three previous candles.
- **Second Number:** Find the midpoint between the high and low of the three previous candles.
- **Pivot Differential:** Measure the difference between the rolling pivot and the second number.
- **Rolling Pivot Range High:** Set as rolling pivot + pivot differential.
- **Rolling Pivot Range Low:** Set as rolling pivot - pivot differential.
**2. Entry Rules:**
- **Long Entry:**
- Initiate a long entry when the current close is above both the rolling pivot range high and the rolling pivot.
- Continue the long entry as long as both the rolling pivot range high and low are higher than the corresponding values of the previous candle.
- **Short Entry:**
- Start a short entry when the current close is below both the rolling pivot range high and the rolling pivot.
- Continue the short entry as long as both the rolling pivot range high and low are lower than the corresponding values of the previous candle.
**Visualization:**
- **Plotting:**
- The rolling pivot range high, rolling pivot, and rolling pivot range low are plotted on the chart for visual reference.
- Long entry points are marked with a green triangle below the corresponding candle.
- Short entry points are marked with a red triangle above the corresponding candle.
**Conclusion:**
This strategy leverages the rolling pivot range to identify potential reversal points in the market. By considering the relative position of the current price compared to the dynamic support and resistance levels, the strategy aims to capture favorable trading opportunities. However, like all trading strategies, it should be used cautiously and backtested thoroughly on historical data to ensure its effectiveness before implementation in a live trading environment. Additionally, risk management techniques should always be applied to safeguard trading capital.
Hull WavesThe Hull Waves indicator is based on the Hull Moving Averages (HMA), which are special moving averages that stand out for their ability to filter out market noise and offer a clearer view of price trends. Compared to traditional moving averages, HMAs are more responsive yet smoother, allowing traders to capture significant price movements without getting overwhelmed by short-term fluctuations.
The HMAs integrated into Hull Waves provide two distinct perspectives on the price trend:
8-period HMA: This short-term HMA is extremely reactive and closely follows price changes. It is ideal for capturing short-term trading signals while the medium-term 21-period HMA offers a more balanced view of price trends and identifies medium-term trends.
By crossing HMAs, traders can efficiently identify trend reversal points or strong market continuations.
Another feature of the indicator is the “fan” of dynamic lines, which acts as a visual float for price candles, allowing traders to quickly evaluate trading opportunities.
The "fan" or float of dynamic lines represents a visual representation of the candle's price movements. These lines extend from the start point to the end point, like an open fan. This visual approach makes the market dynamics immediately evident.
Strategy:
Long Entry Signal (Buy):
When the Hull Waves range shows a series of upward sloping lines and the Hull Moving Averages (e.g. 8-period HMA) crosses the 21-period HMA upwards, it is a long entry signal.
Confirmation of the signal can come from an increase in trader volume or other supporting indicators.
Place a buy order at the next closing price.
Short Entry Signal (Sell):
When the Hull Waves range shows a series of downward sloping lines and the Hull Moving Averages (e.g. 8-period HMA) crosses the 21-period HMA downward, it is a short entry signal.
Confirm the signal with an increase in trader volume or other relevant indicators.
Place a sell order at the next closing price.
Exit Signal (Closing a Position):
To close a long position, wait for a signal reversal, such as the Hull Moving Averages crossing downwards or a change in the Hull Waves range.
To close a short position, wait for a signal reversal, such as the Hull Moving Averages crossing higher or a change in the Hull Waves range.
Bullish vs. Bearish Candle CounterFollowing an exhaustive analysis of the most recent 50,000 candles within a given currency pair, a notable equilibrium between bearish and bullish candles has emerged as a persistent market phenomenon. This equilibrium, indicative of the market's continuous endeavor to establish parity, has spurred the development of the following indicator.
The indicator meticulously scrutinizes the preceding 100 candles, promptly triggering an on-chart marker when either bullish or bearish candle counts surpass the threshold of 60%. This marker serves as an invaluable tool, providing traders with a potential signal for the initiation of a trend reversal.
As such, this indicator serves as a valuable asset in a trader's toolkit, offering insights into shifts in market sentiment and the prospect of emerging trends.
Key Features:
- Customizable Candle Count: Traders can set the number of candlesticks to be analyzed in the input parameters, allowing flexibility in their analysis.
- Bullish and Bearish Percentage: Users can define their desired percentage for both bullish and bearish candles in the indicator's settings. The indicator calculates the percentage of each candle type within the specified range.
- Arrow Signals: The indicator plots arrows above or below the current candle, indicating bullish or bearish conditions based on the defined percentage thresholds. A green arrow signifies bullish sentiment, while a red arrow denotes bearish sentiment.
How to Use:
- Adjust Parameters: In the indicator settings, users can customize the number of candlesticks to be analyzed, as well as set their preferred percentages for both bullish and bearish conditions.
- Interpret Arrows: The indicator generates arrows above or below the current candle, reflecting the prevailing market sentiment. A green arrow suggests a bullish bias, while a red arrow indicates a bearish bias.
- Trade with Confidence: Traders can use this indicator as a tool to gauge market sentiment and make informed trading decisions. It helps identify potential entry and exit points based on the chosen percentage thresholds.
Multiperiod Volume Pressure Indicator
Description:
The Volume Pressure Indicator is a powerful tool designed to assess market sentiment based on a combination of price and volume data. By analyzing buy and sell pressure within specific lookback periods, this indicator provides valuable insights into the intensity of market buying and selling activities. Traders can use this information to make informed decisions, especially during periods of price consolidation or trend reversal.
Key Features:
- **Multi-Period Analysis:** Utilizes multiple lookback periods (1, 2, and 4) to calculate buy and sell pressures, offering a nuanced view of market dynamics over different timeframes.
- **Pressure Calculation:** Computes buy and sell pressures based on price range and closing values, providing a comprehensive understanding of market participant behavior.
- **Color-Coded Bars:** Visualizes market sentiment by coloring bars according to the number of positive (buy pressure > sell pressure) periods observed within the specified lookback periods.
How to Use:
- **Color Coding:** Green bars represent periods where buy pressure dominates, indicating potential buying interest. Yellow bars suggest a balance between buy and sell pressures. Red bars signal periods dominated by sell pressure, indicating potential selling interest.
- **Lookback Periods:** Shorter lookback periods (e.g., 1) offer insights into immediate market sentiment, while longer periods (e.g., 4) provide a broader perspective. Analyzing multiple periods can help traders confirm trends and anticipate reversals.
Customization:
- **Lookback Periods:** Adjust the length of the lookback periods (1, 2, and 4) to match your trading style and timeframe preferences.
Disclaimer:
Trading involves risk, and past performance is not indicative of future results. Always conduct thorough analysis and apply proper risk management techniques before making trading decisions.
Usage Scenarios:
- **Trend Confirmation:** Use the indicator to confirm the strength of an ongoing trend. Consistent green bars can validate a bullish trend, while red bars may confirm a bearish trend.
- **Reversal Signals:** Look for transitions in bar colors to identify potential trend reversals. A shift from green to yellow/red or vice versa can indicate changing market sentiment.
- **Divergence Analysis:** Compare price movements with the indicator's bar colors. Divergence between price trends and bar colors may signal upcoming price movements.
QTY@RISKWhat it does:
This indicator calculates the amount of shares to take at a predefined risk according to market volatility based on ATR.
This should help novice traders focus more on their trades and strategies instead of spending too much time calculating parameters.
How it works:
You have some configuration parameters
1. Number of candles used to calculate the ATR
2. ATR calculation method (SMA, RMA, EMA, WMA)
3. How much you want to risk in $.
4. Safety factor on ATR, to get a buffer
5. Size of your capital to be able to calculate the maximum amount of shares
6. Shares limit, if you have a certain limit of shares to take
The formula is simple:
Is the RISK/ATR * price > Equity ? then take the Equity/price
otherwise: SHARES = RISK/(ATR * safety_factor)
How to use it:
This indicator is most useful for intraday timeframe. If you trade on 1m, then use it in this timeframe
Because Wicks Dont Lie" Because Wicks Don't Lie " is a specialized indicator designed to assist traders in identifying and visualizing significant candle wicks on any timeframe. Wicks, often referred to as Liquidity Targets, are areas that almost always get filled by price at some point. They can help map out the trajectory of price movement, acting as a magnet, drawing the price towards them. Recognizing these wicks can provide invaluable insights into potential trading opportunities and market sentiment.
We are looking for Candles with LONG Wick and TINY Candle Body! Only those types of Wicks have (according to my experience and backtesting) a 100% chance to get filled in the future.
Features:
Wick Visualization:
The script highlights significant bullish (blue) and bearish (red) wicks that meet specific criteria, helping you quickly spot potential trading opportunities.
VWAP Bands for Filtering Extremes:
The VWAP bands are incorporated to filter out wicks created at extreme price points. By ensuring that wicks are within a user-defined percentage of the VWAP (Volume Weighted Average Price), traders can avoid targeting extreme wicks that might take a longer time to get filled, thus enhancing the efficacy of strategies that trade towards wicks.
Alerts:
Traders can set alerts for when a significant bullish or bearish wick is detected, ensuring they never miss potential setups.
Usage:
Once applied to your chart, the script will automatically scan for significant wicks and display them with blue (bullish) and red (bearish) markers. By adjusting the script settings, users can customize the VWAP band percentage to fine-tune the filtering of extreme wicks.
Conclusion:
Wicks often contain valuable information about market sentiment, rejection of price levels, and potential future price direction. By acting as liquidity targets, they serve as indications of where the price is likely to move. "Because Wicks Don't Lie" simplifies the process of identifying these crucial candle formations and, with the inclusion of the VWAP bands, ensures that traders can prioritize the most actionable wicks while avoiding extreme outliers.
Input Fields:
Average Candle Size Multiplier:
This parameter allows users to adjust the base size of what the script considers as a significant wick. By multiplying the average size of candles over the last 4998 bars, users can fine-tune the script to detect only wicks of a certain prominence. A higher value will mean that only larger wicks (relative to recent price action) will be considered significant.
Wick Ratio (Wick Proportion Threshold):
This ratio helps determine the proportion of the wick to the entire candle for it to be considered significant. A higher ratio means that the wick must be a larger part of the total candle size to be marked as significant. It's an essential parameter to differentiate between candles with tiny wicks and those with substantial wicks which might offer trading opportunities.
Breakout mode patterns [yohtza]This indicator detects three kinds of price action patterns:
ii - consecutive inside bars ( high and low inside of the previous bar), triangle on a lower timeframe
oo - consecutive outside bars ( high above the high of the previous bar and the low below the low of the previous bar), expanding triangle on a lower timeframe
ioi - inside outside inside, diamond pattern on a lower timeframe
Traders that trade these patterns are entering on breakouts above/below .When they appear in a trending market, they are good setups for both continuation and reversal swing trades. When they appear in ranging market, they are not nearly as powerful since most breakouts fail in this context. To achieve the highest probability, it is best to trade in the direction of the trend on the last bar in the pattern with a stop loss on the other side and going for a reward that is at least twice the risk.
SMC Indicator With WebhookThis indicator includes
- Liquidity sweeps
- FVG
- MSS
- Sessions
The alert system is set up for Discord webhooks. Discord webhook can be set up by creating a webhook in your Discord server then pasting the webhook url into the webhook url input box for the alert you create on the indicator.
You can create different alerts for different timeframes and symbols. E.g. HTF liquidity sweeps and LTF MSS.
TrendLine CrossThis indicator "TrendLine Cross", is designed to plot trend lines so you can spot potential trend reversal points on the charts. The main function is to draw several lines on the chart and identify the crossings between these lines, which can be significant indicators for trading. The lines are based on different periods which can be changed in the settings tabs.
Let's see the characteristics of the trend lines:
_Low Line Color(Green Line): This line connects the lowest point of low prices in the "low_time" period with the lowest point of low prices in the "high_time" period. Indicates a possible short-term support level on the chart.
_Liquidity Up Line Color (Golden Line): This line connects the lowest point of low prices in the "low_time" period with the highest point of low prices in the same period. It represents a liquidity zone and an important resistance in the chart.
_Lower Line Color (Blue Line): This horizontal line connects the lowest point of low prices in the "LowerLine_period" with the lowest point of low prices in the "high_time" period. Indicates a possible long-term support level.
_Upper Line Colorr: This line represents a connection between the highest points of the "high_time" period and the lowest point of the "LowerLine_period". Indicates a possible long-term resistance level.
_Up Line Color (Red Line): This line connects the highest point of high prices in the "high_time" period with the highest point of high prices in the "LowerLine_period". It represents a possible long-term resistance level.
_Liquidity Down Line Color(Golden Line): This line connects the highest point of high prices in the "high_time" period with the highest point of low prices in the "low_time" period. It represents a liquidity point and an important support zone.
The indicator becomes particularly interesting when the lines make crossings. These crossovers could suggest a potential trend change in the market. For example:
Change from Bearish to Bullish: If the "long-term" line (black) crosses the "short- or long-term" line (green or blue) from top to bottom, it could indicate a shift from a bearish to a bullish market , suggesting the opportunity for long positions.
_Changing from Bullish to Bearish: If the "long-term" line (blue) crosses the "short-term" line (red or black) from bottom to top, it could indicate a shift from a bullish to a bearish market, suggesting the opportunity for short positions.
Generally speaking, crossings between these lines can be key points of interest for traders, as they can signal significant changes in price direction.
Crypto Daily WatchList And Screener [M]
Hi, this is a watchlist and screener indicator designed for traders in the field of cryptocurrencies who want to monitor developments in other currency pairs and indices.
The indicator consists of two tables. One of them is the table containing indices such as BTC dominance, total, total2, which allows you to track market developments and changes. In this table, you will find price information, daily change, stochastic, and trend information.
The other table includes cryptocurrencies like BTC/USDT, ETH/USDT, DOT/USDT, and more. In this table, you will see real-time prices, daily volume, daily change, stochastic, the correlation coefficient between the pair and Bitcoin, and the trend value calculated based on MACD.
The "Customize" section in the settings enables you to personalize the appearance of the tables according to your preferences.
Custom Candlestick MarkingsThis indicator allows you to filter candlesticks based on their body (the real body) and wick lengths. Specifically, it marks candlesticks based on the following criteria:
For Bearish Candles:
1. The close price is lower than the open price (indicating a bearish candle).
2. The difference between the high and the maximum of open and close is less than or equal to the specified upper wick length.
3. The absolute difference between the close and open is greater than or equal to the specified body height.
For Bullish Candles:
1. The close price is higher than the open price (indicating a bullish candle).
2. The difference between the maximum of open and close and the low is less than or equal to the specified lower wick length.
3. The absolute difference between the close and open is greater than or equal to the specified body height.
These conditions are used to filter and mark candlesticks that meet the specified criteria, allowing you to visually identify them on the chart. This can be useful for technical analysis and identifying specific candlestick patterns or conditions based on body and wick lengths.
Certainly, this indicator can help in identifying trends more easily. Specifically, by applying certain criteria based on the length of candlestick bodies and wicks, it becomes easier to visually capture changes in market trends and specific patterns.
For instance, you can use this indicator to identify candlestick patterns that match specific body heights or wick lengths. This makes it easier to detect signs of trend reversals or trend changes, and it can assist in making trading decisions when combined with trendlines or support and resistance levels.
However, it's common to use this indicator in conjunction with other technical analysis tools and indicators. Confirming trends and pinpointing entry points often requires multiple sources of information and analysis. In investing and trading, thorough research and careful strategy are essential.
Smart money conceptThe indicator tracks the smallest movements of price action. It can monitor and analyze market context, attempting to identify trends within each time frame.
If a candle has its entire body above the previous swing high, it indicates a strong upward momentum. The market is leaning towards an upward direction. If the candle remains within the range of the previous swing high, it signifies weak upward momentum. The market is reluctant to move higher.
If a candle has its entire body below the previous swing low, it reflects a strong downward momentum. The market is leaning towards a downward direction. If the candle remains within the range of the previous swing low, it indicates weak downward momentum. The market is reluctant to move lower.
3GBH - ICT NY SessionThis indicator is meant to help those using ICT's methodology.
This script simply highlights the NY session with green and red zones.
The red zone can help to indicate periods you do not want to trade, for example, NY lunch session.
Timings and colors and customizable with an easy user interface.
90 Minute Cycles90m cycles for 7:30-9, 9-10:30, 10:30-12
This indicator shows the 90 minute cycles for 7:30am-9am, 9am-10:30am and 10:30am-12pm New York time.
Educational Inidicators - Ichimoku CloudThis indicator is part of the Indicator Educational Series, intended to help newer traders understand and interact with various indicators. The goal is to allow users to gain a stronger understanding of an indicator's underlying philosophy, and visually see how changes to an indicator's parameters affects the trades suggested by that indicator.
The scripts in this series are all open source, with the code broken up into logical section and notated so beginner users can also understand some PineScript fundamentals.
Please understand that no indicator presented in and of itself constitutes a complete trading strategy. Rather, this series is to help users determine which indicators make sense to them, and which ones to combine to create their own trading strategy. All material presented is purely for educational purposes.
Presented here is the Ichimoku Cloud.
The Ichimoku Cloud was developed by Goichi Hosada, and first published in the late 1960s. It is used by traders to understand price momentum, and help forecast future price movements.
The indicator at its core can be understood from four component parts:
The Conversion Line - An average of the highest and lowest price in a given window. Typically, this is a "fast" average, and as such, this line has the lowest period
The Base Line - An average of the highest and lowest price in a given window. This is a "slower" average than the Conversion Line, and as such should have a larger period than the Conversion Line
Leading Span A - The average of the Conversion Line and the Base Line
[*}Leading Span B - An average of the highest and lowest price in a given window. This is the "slowest" average of all three, and as such should have the largest period
When plotted, the Conversion Line (orange by default), Base Line (purple by default), Leading Span A (blue by default), and Leading Span B (red by defaults) are all drawn on the chart along with the price candles. The area between the Leading Span A and Leading Span B lines are also shaded depending on which of the two lines is greater: whenever Leading Span A is greater the area is shaded positively (blue by default), whenever Leading Span B is greater the area is shaded negatively (red by defaults).
One interesting feature of the Ichimoku Cloud is that it drawn a certain number of candles forward. What this means is that where the cloud is drawn on the chart is reflective of prices that have occurred a number of candles in the past. This is done intentionally to help traders see how the current price is moving in relation to historical price movements on the asset.
See below for how the indicators look in their default colors on the chart
These indicators can then be used to start analyzing the price movement, and making trade decisions.
The first inference we can make is the momentum of the price. Since the lines are drawn from averages of varying speeds, the shaded area between the Leading Span lines can tell us whether the momentum is bullish (up) or bearish (down).
Whenever Leading Span A, the faster of the two lines, is above Leading Span B, that means that price is moving upward faster than it typically has, ergo we are in Bullish Momentum. On the chart, this is indicated in two ways:
The area is shaded positively (blue by default)
A green upward triangle is added to the chart to indicate where the momentum first turned Bullish
Whenever Leading Span A is below Leading Span B, that means that price is moving downward faster than it typically has, ergo we are in Bearish Momentum. On the chart, this is indicated in two ways:
The area is shaded negatively (red by default)
A red downward triangle is added to the chart to indicate where the momentum first turned Bearish
The next inference we can make is possible trading points. When we're in a period of momentum, as determined above, we know that price is going up or down, depending on the momentum we're in. We can then use the Conversion Line, Base Line, and the Price itself to confirm a good trade price.
When the asset is in Bullish Momentum, and the Conversion Line, our fastest average, is above the Base Line, our mid speed average, we know that the price is coming up quickly in the short term. When the Base Line and current Price are also above the cloud, then we have triple confirmation that price is going up, and we should enter a Long position. On the chart, this point is indicated with a green flag.
When the asset is in Bearish Momentum, and the Conversion Line is below the Base Line, we know that the price is going down quickly in the short term. When the Base Line and current Price are also below the cloud, then we have triple confirmation that price is going down, and we should enter a Short position. On the chart, this point is indicated with a red flag.
The script presented here also allows users to customize the various parameters of the Ichimoku Cloud, and visually see how analysis is affected by these changes. This is designed to allow users to modify parameters as they see fit, within certain constraints, to find the best set for them. The lines, cloud, and chart indicators will all update automatically with the users' inputs.
LTF Candle Insights (Zeiierman)█ Overview
The LTF Candle Insights indicator allows traders to explore the finer details of the market by integrating lower time frame (LTF) data into their current chart, offering a more detailed and nuanced view of price movements. This comprehensive visual tool is crucial for traders who want to investigate complex market trends without the constant need to switch between different chart timeframes.
In essence, this indicator overlays the smaller details into the broader frame, enabling traders to grasp the fine points while examining the larger market picture.
█ How It Works
The LTF Candle Insights indicator easily puts LTF candles onto the current chart, allowing traders to see both the current timeframe and the chosen lower timeframe candles at the same time. This dual view helps traders see the main market trends and important price levels, helping them get a better understanding of the little details and complexities of the market.
█ How to Use
Trend Analysis
Traders can use this indicator to look closely at smaller market trends by comparing LTF candles with the candles of the current timeframe. Knowing the trends in LTF helps traders make trades that go along with the small market movements.
Support and Resistance Identification
By looking at the high, low, and middle levels of LTF candles, traders can find possible support and resistance areas. This detailed look helps traders pick the best times to enter or exit trades, set up stop-losses effectively, and manage risk carefully.
█ Settings
Lower Timeframe and Candle Amount
Users can determine the lower timeframe and the number of LTF candles they wish to observe on their current chart.
Range Lines
The high/low range of the illustrated candles and the optional mid-range line can be displayed, granting insights into significant price levels and ranges.
Table Display
A summary table can be displayed, outlining details of the current chart's timeframe and the chosen LTF, providing a succinct overview for traders.
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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!
Extended Engulfing CandleExtended Engulfing Candle Pattern Indicator
This indicator advances the standard engulfing candle pattern, capturing more reliable trend reversal signals in the market. Traditional engulfing candle patterns often lead to premature judgments of trend reversals, but the Extended Engulfing Indicator considers consecutive rising or falling candles to pinpoint more conservative trend reversal points.
Features:
Detection of Consecutive Rising/Falling Candles:
This indicator detects the occurrence of consecutive rising or falling candles, considering them when identifying extended engulfing candles. This creates a more potent reversal signal compared to single candle patterns.
Visual Display:
“U” and “D” labels are displayed at the top and bottom of the chart, clearly showing users the rising and falling engulfing patterns.
It only displays a label once, until a pattern in the opposite direction is shown.
Enhanced Accuracy:
By using the information from consecutive candles, the indicator captures trend reversals more conservatively and accurately. This reduces the number of false signals compared to traditional engulfing candle patterns.
How to Use:
When a rising engulfing candle pattern is displayed, it signifies the start of a potential upward trend. Conversely, when a falling engulfing candle pattern appears, it implies the beginning of a potential downward trend.
Caution:
Trading solely with this indicator has its limitations; hence users should cautiously integrate it with their trading strategies. Not all rising and falling engulfing patterns signify trend reversals.
Conclusion:
The Extended Engulfing Candle Pattern Indicator assists in identifying more reliable trend reversal points compared to the traditional engulfing candle patterns. By identifying the high and low points of consecutive candles, it minimizes false signals and helps traders make more accurate judgments on market movements.
확장 장악형 캔들 패턴 인디케이터
이 인디케이터는 표준 장악형 캔들 패턴을 발전시켜, 마켓에서 더 확실한 트렌드 전환 시그널을 포착합니다. 기존의 장악형 캔들 패턴은 종종 너무 이른 트렌드 전환 판단을 내리지만, 확장 장악형 인디케이터는 연속적인 상승 혹은 하락 캔들을 고려하여 더 보수적인 트렌드 전환점을 포착합니다.
특징:
연속 상승/하락 캔들 감지:
이 인디케이터는 연속적인 상승 또는 하락 캔들의 발생을 감지하여, 확장 장악형 캔들이 나타날 때 이를 고려합니다.
이는 단일 캔들 패턴보다 더 강력한 전환 시그널을 생성합니다.
시각적 표시:
차트의 상단과 하단에 “U”와 “D” 라벨을 표시하여, 사용자에게 상승 장악형 및 하락 장악형 패턴을 명확하게 보여줍니다.
반대 방향의 패턴이 나타날 때까지 라벨은 한 번만 표시됩니다.
개선된 정확도:
연속적인 캔들의 정보를 사용함으로써, 트렌드의 전환을 보다 보수적이고 정확하게 포착합니다.
이로 인해 기존의 장악형 캔들 패턴 대비 거짓 신호의 수가 줄어듭니다.
사용 방법:
상승 장악형 캔들 패턴이 표시되면, 이는 잠재적인 상승 트렌드의 시작을 나타냅니다.
반대로, 하락 장악형 캔들 패턴이 나타나면, 이는 잠재적인 하락 트렌드의 시작을 의미합니다.
주의사항:
이 지표만을 이용한 트레이딩에는 한계가 있을 수 있으므로 사용자는 본인의 트레이딩 전략과 결합하여 조심스럽게 사용해야 합니다. 모든 상승, 하락 장악형 패턴이 트렌드의 전환을 의미하지 않습니다.
결론:
확장 장악형 캔들 패턴 인디케이터는 기존의 장악형 캔들 패턴보다 더욱 신뢰할 수 있는 트렌드 전환 포인트를 식별할 수 있게 도와줍니다. 연속적인 캔들의 고점 및 저점을 식별함으로써 거짓 신호를 최소화하고, 트레이더들이 마켓의 움직임에 대해 보다 정확한 판단을 내릴 수 있게 합니다.
Barbwire [yohtza]This is an indicator that helps price action traders in determining when the market is in tight trading range.
Barbwire rules
The conditions for tight trading range are very simple. There has to be at least one doji (body is less than half size of the bars range from high to low) bar in the last three bars and there has to be lots of overlap between those bars. To quantify overlap indicator looks for bars that pull back 50% or more of the previous bars range and current bars that have 50% level touching the previous bar.
How to use this indicator?
For most traders it is best to avoid barbwire, only skilled and experienced traders who understand limit order trading can keep trading in these market conditions and still make money. So in simple terms it is a no trade zone and waiting for market to start trending again is most beneficial and greatly improves odds of achieving profitability and better trading results.
The term barbwire can be found in the books of Dr. Al Brooks which were the inspiration for creation of this indicator and are a great read for aspiring price action traders.
