Wick %Heyo Fellas,
thanks for checking out my new indicator.
Introduction
Wick % is a simple indicator to compare wick size with body size (mode 1) and to compare wick size with candle size (mode 2).
Upper wicks are bullish when close is higher than open pricen.
Lower wicks are bearish when close is lower than open price.
Wick Theory
In general, big wick and small bodie on a bar means that bull and bears are fighting heavily.
A big wick below the body means the bulls are leading in that fight,
and a big wick above the body means the bears are leading in that fight.
Calculation Formula
Mode 1 – Percentual Increase Wick/Body:
upperWickPercentage = (upperWick / body) * 100 - 100
lowerWickPercentage = (lowerWick / body) * 100 - 100
Mode 2 – Percent Wick/Candlestick:
upperWickPercentage = (upperWick / (high - low)) * 100
lowerWickPercentage = (lowerWick / (high - low)) * 100
Usage
You can use it on every symbol and every timeframe.
The indicator repaints by default, but you can disable it in the settings.
When you disable repaint, it moves the label one bar to the right.
If you want to use the indicator for signals, you must disable repainting.
Best regards,
simwai
Candlestick analysis
Dump CandleThe "Dump Candle" indicator is a tool designed to help traders visualise potential "dump" candles on a altcoin's price chart. A dump candle is a transparent candle with pink outline and it shows where the price experiences a significant drop from its high to its close, indicating a potential sell-off or market weakness. These are usually caused by relatively smaller moves on BTC.
Features:
Customizable Percentage Drop: Traders can input the desired percentage drop threshold to define what constitutes a dump candle. This allows for flexibility in adapting the indicator to different market conditions and trading styles.
Historical Dump Candle Highlighting: Traders have the option to highlight historical dump candles on the chart, making it easier to spot past instances of significant price drops and analyze their impact on the market.
Average Dump Percentage: The indicator can calculate the average percentage drop of the five most recent dump candles, giving traders a sense of the typical magnitude of price drops in the current market environment.
Informative Label: A label is displayed next to the most recent dump candle, providing key information such as the percentage drop, the number of candles since the last dump, and the average dump percentage. This helps traders quickly assess the significance and context of the identified dump candle.
Usage:
Use the dump candle to find where to set your bids/buys for the moment when BTC drops to wipe out leveraged traders. This can be very lucrative, as your orders get wicked into, and price very quickly heads north again, meaning you are instantly in profit, and the overall market generally continues being bullish from that point, as people buy the dip. I place by bids at the 4H or 12H RMA14 moving average, in Fair Value Gaps, and at orderblocks. Obviously make sure to use a stop loss too
Auto-magnifier / quantifytools- Overview
Auto-magnifier shows a lower timeframe view of candles and volume bars inside any main timeframe candle by zooming into it. Candles and volume bars as they develop are shown chronologically from left to right. By default, magnifier is triggered when less than 3 candles are visible on the chart.
By default, 20 lower timeframe candles are displayed by splitting main timeframe into 20 parts. The amount of candles displayed is a target rate, meaning the script will use a lower timeframe that has the closest match to 20 candles and therefore will vary a bit. Users can override automatic timeframe calculation and opt in to display any specific lower timeframe or adjust amount of candles shown (e.g. 20 -> 30 candles) per each main timeframe candle.
Example
Main timeframe set to 30 minute, candles displayed set to 20 -> Magnifying using 2 minute candles (30 minute/20 candles = 1.5 min, rounded to 2 min)
Main timeframe set to 30 minute, override set to 5 minutes -> Displaying 5 minute candles
Size of volume bars is calculated using relative volume (volume relative to volume SMA20), lowest bar representing relative volume values of under or equal to 1x the moving average and from there onwards progressively growing.
- Limitations and considerations
Amount of candles shown might flow over from the background on smaller screen sizes, in which case you would want to decrease the amount shown. Opposite is true for bigger screens, this value can be increased as more candles fit.
This indicator involves a lot of tricks with text elements to make it work automatically by zooming in. Size of wicks, bodies and volume bars are calculated by adding more text elements on big candles and less text elements on smaller candles. This means the displayed candles won't be a 100% match, but a rather a fair representation of the view, e.g. candle is green = lower timeframe candle is green, candle has a big wick = lower timeframe candle has a big wick (but not a 100% match).
Example
Magnified lower timeframe chart vs. Actual lower timeframe chart
Most mismatch will be found on the price levels where lower timeframe candles are shown, which is sacrificed for the sake of getting a better readability on the overall shape of lower timeframe price action. Users can alternatively optimize calculations for more accuracy, giving a better representation of the price levels where candles truly originated. This typically comes with the cost of worse readability however.
Example
Optimized for readability vs. Optimized for accuracy
- Visuals
All visual elements are fully customizable.
Dark Cloud [TradingFinder] Piercing Line Reversal chart Pattern
🔵 Introduction
"Reversal candlestick patterns" are among the Japanese candlestick patterns considered as alerts for a potential change in the current price trend. It is often assumed that by identifying reversal candlestick patterns, the price trend will definitely change, either from bullish to bearish or from bearish to bullish. However, this claim is not entirely accurate, and a change in price trend does not always mean a reversal.
Nonetheless, the importance of reversal candlestick patterns remains significant. By recognizing these patterns, you can better predict changes in the trend with higher probability and make better trading decisions.
🔵 Dark Cloud
The "Dark Cloud" pattern occurs when, after an upward trend, buyers continue to drive the price up in the first candle. However, in the next candle, with sellers entering and increasing selling pressure, the price starts to decrease compared to the close of the previous candle.
This price decrease is significant enough that in the last candle, the price goes lower than the open of the previous candle, serving as a warning sign for a potential change in price trend.
The fundamental principles for the formation of the "Dark Cloud" pattern include :
1.Two candles consisting of a positive candle (first candle) and a negative candle (second candle) whose main body should be above the halfway point of the first candle's main body but does not completely cover it.
2.The color of the main body of the second candle should be opposite to the color of the main body of the first candle.
Factors affecting the strength of the "Dark Cloud" pattern include :
1.The length of the bodies of both candles, especially the second candle, which increases the strength of the pattern.
2.The gap between the two bodies can also indicate the strength of the pattern.
3.The absence of a lower shadow in the second candle also indicates the strength of the pattern.
4.If the pattern forms in a price resistance range, it has more strength.
🔵 Piercing Line
The "Piercing Line" pattern occurs when, after a downward trend, sellers decrease the price by offering their shares on the first day. However, on the next day, with buyers entering and increasing demand, the price starts to increase compared to the close of the previous day.
This increase is significant enough that in the last candle, the price goes higher than the open of the previous day, serving as a warning sign for a reversal in the price trend. Overall, this pattern is the opposite of the "Dark Cloud" pattern and occurs under a bearish trend.
The fundamental principles for the formation of the "Piercing Line" pattern include :
1.Two candles consisting of a negative candle (first candle) and a positive candle (second candle) whose main body should be above the halfway point of the first candle's main body but does not completely cover it.
2.The color of the main body of the second candle should be opposite to the color of the main body of the first candle.
Factors affecting the strength of the "Piercing Line" pattern include :
1.The length of the bodies of both candles, especially the second candle, which increases the strength of the pattern.
2.The gap between the two bodies can also indicate the strength of the pattern.
3.The absence of an upper shadow in the second candle also indicates the strength of the pattern.
4.If the pattern forms in a price support range, it has more strength.
🔵 How to Use
The "green circle" symbol corresponds to the "Strong Piercing Line" signal, the "blue triangle" symbol corresponds to the "Weak Piercing Line" signal, the "red circle" symbol corresponds to the "Strong Dark Cloud" signal, and the "red triangle" symbol corresponds to the "Weak Dark Cloud" signal.
🔵 Setting
Using the "Show Dark Cloud" and "Show Piercing Line" buttons, you can enable or disable the display of Dark Cloud and Piercing Line.
CandleStick [TradingFinder] - All Reversal & Trend Patterns🔵 Introduction
"Candlesticks" patterns are used to predict price movements. We have included 5 of the best candlestick patterns that are common and very useful in "technical analysis" in this script to identify them automatically. The most important advantage of this indicator for users is saving time and high precision in identifying patterns.
These patterns are "Pin Bar," "Dark Cloud," "Piercing Line," "3 Inside Bar," and "Engulfing." By using these patterns, you can predict price movements more accurately and therefore make better decisions in your trades.
🔵 How to Use
Pin Bar : This pattern consists of a Candle where "Open Price," "Close Price," "High Price," and "Low Price" form the "Candle Body," and it also has "Long Shadow" and "Short Shadow." In the visual appearance of the Pin Bar pattern, we have a candle body and a pin bar shadow, where the candle body is smaller relative to the shadow.
Just as the candle body plays an important role in analysis, the pin bar shadow can also be influential. The larger the pin bar shadow, the stronger the expectation of a trend reversal.
When a "bearish pin bar" occurs at resistance or the chart ceiling, it can be predicted that the price trend will be downward. Similarly, at support points and the chart floor, a "bullish pin bar" can indicate an upward price movement.
Additionally, patterns like "Hammer," "Shooting Star," "Hanging Man," and "Inverted Hammer" are types of pin bars. Pin bars are formed in two ways: bullish pin bars have a long lower shadow, and bearish pin bars have a long upper shadow. Important: Displaying "Bullish Pin Bar" is labeled "BuPB," and "Bearish Pin Bar" is labeled "BePB."
Dark Cloud : The Dark Cloud pattern is one type of two-candle patterns that occurs at the end of an uptrend. The 2-candle pattern indicates the shape of this pattern, which actually consists of 2 candles, one bullish and one bearish. This pattern indicates a trend reversal and is quite powerful.
The Dark Cloud pattern is seen when, after a bullish candle at the end of an uptrend, a bearish candle opens at a higher level (weakly, equal, or higher) than the closing point of the bullish candle and finally closes at a point approximately in the middle of the previous candle. In this indicator, the Dark Cloud pattern is identified as "Wick" and "Strong" .
The difference between these two lies in the strictness of their conditions. Important: Strong Dark Cloud is labeled "SDC," and Weak Dark Cloud is labeled "WDC."
Piercing Line : The Piercing candlestick pattern consists of 2 candles, the first being bearish and consistent with the previous trend, and the second being bullish. The conditions of the pattern are such that the first candle is bearish and a price gap is created between the two candles upon the opening of the next candle because its opening price is below (weakly equal to or less than) the closing price of the previous candle.
Additionally, its closing price must be at least 50% above the red candle.
This means that the second candle must penetrate at least 50% into the first candle. Important: Strong Piercing Line is labeled "SPL," and Weak Piercing Line is labeled "WPL."
3 Inside Bar (3 Bar Reversal) : The 3 Inside Bar pattern is a reversal pattern. This pattern consists of 3 consecutive candles and can be either bullish or bearish. In the bullish pattern (Inside Up) formed at the end of a downtrend, the last candle must be bullish, and the third candle from the end must be bearish.
Additionally, the close price must be more than 50% of the third candle from the end. In the bearish pattern (Inside Down) formed at the end of an uptrend, the last candle must be bearish, and the third candle from the end must be bullish. Additionally, the close price must be less than 50% of the third candle from the end. Important: Bullish 3 Inside Bar is labeled "Bu3IB," and Bearish 3 Inside Bar is labeled "Be3IB."
Engulfing : The Engulfing candlestick pattern is a reversal pattern and consists of at least two candles, where one of them completely engulfs the body of the previous or following candle due to high volatility.
For this reason, the term "engulfing" is used for this pattern. This pattern occurs when the price body of a candle encompasses one or more candles before it. Engulfing candles can be bullish or bearish. Bullish Engulfing forms as a reversal candle at the end of a downtrend.
Bullish Engulfing indicates strong buying power and signals the beginning of an uptrend. This pattern is a bullish candle with a long upward body that completely covers the downward body before it. Bearish Engulfing, as a reversal pattern, is a long bearish candle that engulfs the upward candle before it.
Bearish Engulfing forms at the end of an uptrend and indicates the pressure of new sellers and their strong power. Additionally, forming this pattern at resistance levels and the absence of a lower shadow increases its credibility. Important: Bullish Engulfing is labeled "BuE," and Bearish Engulfing is labeled "BeE."
🔵 Settings
This section, you can use the buttons "Show Pin Bar," "Show Dark Cloud," "Show Piercing Line," "Show 3 Inside Bar," and "Show Engulfing" to enable or disable the display of each of these candlestick patterns.
Engulfing [TradingFinder] Bullish & Bearish CandleStick Pattern🔵 Introduction
The candlestick engulfing pattern is important pattern in technical analysis that can be observed in candlestick charts. This pattern occurs when a complete candle engulfs or "engulfs" the body of a previous candle, meaning that the body of the new candle completely covers the body of the previous candle.
The candlestick engulfing pattern has two types: the bullish engulfing pattern and the bearish engulfing pattern.
• Bullish Engulfing Pattern: This pattern occurs when a market candle opens with a larger and higher body than the previous market candle and completely covers the body of the previous candle. This pattern may indicate the presence of strong buying pressure and a potential change in price direction upwards.
• Bearish Engulfing Pattern: This pattern occurs when a market candle opens with a larger and lower body than the previous market candle and completely covers the body of the previous candle. This pattern may indicate the presence of strong selling pressure and a potential change in price direction downwards.
The candlestick engulfing pattern is usually used as a valid signal for a change in price direction in the market and can enhance a combination of crossover investments and technical analysis. However, it should always be evaluated alongside other indicators and market factors, and counter decisions should be made accordingly.
🔵 Recognition Method
Correct, the candlestick engulfing pattern is one of the important patterns in technical analysis that is typically used as a strong signal for a valid change in price direction in the market. This pattern occurs when a candle (usually in the market) opens with a larger and higher (for bullish engulfing pattern) or lower (for bearish engulfing pattern) body than a previous market candle and completely covers the body of the previous candle.
Example of Bullish Engulfing Pattern:
• First Candle: A bearish (downward) candle with a small red body.
• Second Candle: A bullish (upward) candle with a larger body that completely covers the body of the previous candle.
This pattern may indicate a change in price direction from downward to upward.
Example of Bearish Engulfing Pattern:
• First Candle: A bullish (upward) candle with a small green body.
• Second Candle: A bearish (downward) candle with a larger body that completely covers the body of the previous candle.
This pattern may indicate a change in price direction from upward to downward.
The most important point is that the candlestick engulfing pattern should be carefully considered and always evaluated alongside other market indicators and overall conditions. For example, the engulfing pattern near important support or resistance levels, during significant market command changes, or accompanied by other technical signals can have greater signaling power.
🟣 "Bullish Engulfing" Candle
• The first candle is bullish and the second candle is bearish.
• At the end of a downtrend.
• The closing of the first candle is above the opening of the second candle.
• The high of the first candle is higher than the high of the second candle.
Optimal Condition:
• The closing of the first candle is higher than the high of the second candle.
• More than 80% of the first candle is bullish.
🟣 "Bearish Engulfing" Candle
• The first candle is bearish and the second candle is bullish.
• At the end of an uptrend.
• The closing of the first candle is below the opening of the second candle.
• The low of the first candle is lower than the low of the second candle.
Optimal Condition:
• The closing of the first candle is below the opening of the second candle.
• More than 80% of the first candle is bearish.
🔵 Settings
The "Engulf Filter" option allows the "Optimal Condition" to be executed and will show fewer candlesticks.
🔵 Status
Off: Default mode, showing more identifications.
• Green color indicates optimal "Bullish Engulfing" candles.
• Red color indicates optimal "Bearish Engulfing" candles.
On: By changing the default to "On," the number of identifications decreases and the optimal condition is applied.
• Blue color indicates "Bullish Engulfing" candles.
• Black color indicates "Bearish Engulfing" candles.
🟣 Important Note
"Engulfing" candles are very useful signals in the direction of the overall trend, but we do not expect a suitable movement from "Engulfing" candles against the trend.
Magic VIBs V1Introducing the "Magic Vib Indicator" V1 Adeed more extention so it works better on higher time frames, Plus a colour changer so now you can pick a colour for bullish and bearish
a powerful tool designed to identify and highlight unique market scenarios known as "magic volume imbalances." This indicator is specifically crafted to recognize specific candlestick patterns that have demonstrated a significant impact on price movements.
The Magic Vib Indicator is meticulously engineered to detect a particular pattern, which occurs when the high of the first candle aligns perfectly with the open of the subsequent candle, while simultaneously witnessing the close of the first candle matching the low of the second candle. These precise conditions generate what is commonly referred to as a "magic vib."
This indicator has been developed with the sole purpose of capturing these magical moments in the market. By systematically scanning and analyzing price data, it spots instances where these extraordinary price imbalances occur. Once identified, the indicator promptly marks these candles on your trading platform, providing clear visual cues for enhanced decision-making.
The Magic Vib Indicator acts as a catalyst for traders and investors, as it has proven to be a reliable precursor to significant price reactions. These marked candles act as potent signals, suggesting an impending shift in market sentiment and a high probability of substantial price movement. The resulting price action often sees significant volatility, making it an enticing opportunity for those seeking substantial gains.
However, it's important to note that while the Magic Vib Indicator offers valuable guidance, it should not be the sole basis for trading decisions. It is crucial to incorporate other technical and fundamental analysis tools, risk management strategies, and market awareness to achieve consistent success.
In summary, the Magic Vib Indicator represents a breakthrough in technical analysis, specifically tailored to identify and mark candles exhibiting the remarkable characteristics of a "magic volume imbalance." By harnessing the power of this indicator, traders can anticipate substantial price reactions, allowing them to seize opportunities and maximize their trading outcomes.
PA Helper - Draw Next 5 CandlesA user-friendly tool designed for a quick visual preview of the next 5 candles on your trading chart.
Here's how to use it effortlessly:
Set Open Prices:
Adjust the open prices for the upcoming 5 candles using the inputs labeled Next close #1 to Next close #5.
Toggle Candles:
Use the checkboxes (p1 to p5) to enable or disable the drawing of each corresponding next candle.
Offset Option:
Customize your preview by toggling the offset option:
If offset is set to false, the drawing starts from the current candle's close, providing insight into the next 5 candles relative to the current one.
If offset is set to true, the drawing begins with the next candle, offering a preview of the upcoming 5 candles, effectively skipping the current one.
Visual Representation:
The indicator visually displays the next 5 candles on your chart based on your selected open prices, offering a clear and tailored insight into potential market movements.
[AlbaTherium] MTF Internal Ranges Analysis - IRA-Phoenix for SMCIntroduction:
The MTF Internal Ranges Analysis - IRA - Phoenix acts as an extension to the original main SMC Indicator by AlbaTherium . This add-on provides insights into multi-timeframe internal structure points, swing structure points, POIs (Points of Interest), and order blocks (OB). By integrating this enhancement, your multi-timeframe analyses become more streamlined, expediting the process and minimizing chart workload .
This tool represents an advanced smart money technical analysis aimed at enhancing your trading experience. It introduces four pivotal concepts:
Main Features:
Multiple Timeframes and Confluences,
SCOB Internal Order Block.
Demand to Supply (D2S) or Supply to Demand (S2D) across Multiple timeframes
SCOB on LTF and SCM on HTF across same Candle
By combining these concepts all in one, traders can find confluences zones across multiple timeframes and gain a comprehensive understanding of market dynamics, theses confluences zones empower order block skills and potentiality, showcasing them as essential, crucial, powerful, strategic, and pivotal, one of the pillars in smart money concepts trading strategy to make more informed decisions.
Settings Overview:
Select timeframe {Select or current chart}
Inside bar ranges
Internal structure as Internal zigzag {turn on/ off / unconfirmed(live) zigzag}
Single Candle Mitigation Pattern {turn on/ off / confirmed / unconfirmed}
Single Candle Order Block Pattern {turn on/ off / confirmed / unconfirmed}
Demands and Supplies (D&S) {turn on/ off / confirmed / unconfirmed}
OB Mitigation {touch/ extended}
Understanding the Features:
Chapter 1: Multiple Timeframes and Confluences
Our Multi-timeframe analysis approach enables traders to analyze market trends and volatility across different timeframes. Confluences, where signals align across multiple timeframes, provide strong indications for trading opportunities.
Practical Example:
- With MTF IRA - Phoenix , traders can seamlessly transition between different timeframes while maintaining a cohesive analysis. For instance, traders can monitor the M15, H1, or M5 charts while focusing on entry on the M1 timeframe, enabling a holistic view of market trends and opportunities .
Chapter 2: SCOB Internal Order Block across Multiple Timeframe
SCOB Internal Order Block (SCOB IOB) highlights critical zones in price action, showcasing the dominance of aggressive buyers or sellers on orders blocks. As confluences accumulate across multiple timeframes, the strength of the order block intensifies, presenting entry opportunities.
Practical Example:
You have the ability to detect zones where price ranges have formed; these areas are highly sought after for taking buying as well as selling positions, especially when these areas are reflected across 1 or 3 timeframes.
The only practical way to see theses confluences is to use this Indicator, see the example below
Chapter 03: Demand to Supply (D2S) or Supply to Demand (S2D) across Multiple timeframes
The Demand to Supply or Supply to Demand feature within MTF Internal Ranges Analysis - IRA - Phoenix offers a nuanced analysis of price action dynamics across various timeframes. By identifying shifts in supply and demand zones, traders gain valuable insights into market sentiment and potential price reversals.
This feature enables traders to anticipate changes in market direction by recognizing the interplay between demand and supply across different timeframes. By understanding how price reacts at key support and resistance levels, traders can make informed decisions and capitalize on emerging trends.
The Demand to Supply or Supply to Demand feature enhances the indicator's usefulness by providing traders with actionable information to navigate complex market conditions effectively. With this comprehensive analysis, traders can better manage risk and optimize trading strategies across multiple timeframes.
Real-world Example:
Chapter 04: SCOB on LTF and SCM on HTF across same Candle
with MTF Internal Ranges Analysis - IRA - Phoenix , explores the concepts of SCOB (Single Candle Order Block) on Lower Timeframes (LTF) and SCM (Single Candle Mitigation) on Higher Timeframes (HTF).
SCOB on LTF refers to the identification and analysis of single candle order blocks within shorter timeframes. These blocks represent critical price levels where significant buying or selling activity occurred within a single candlestick. By recognizing SCOB patterns, traders can pinpoint key areas of market interest and anticipate potential price movements.
On the other hand, SCM on HTF involves analyzing single candle mitigation entries within longer timeframes. This technique aims to capitalize on price reversals or shifts in market sentiment indicated by single candlestick patterns. By incorporating SCM analysis, traders can gain insights into broader market trends and make strategic trading decisions accordingly.
the intricacies of SCOB on LTF and SCM on HTF, offering traders valuable tools to enhance their analysis and decision-making processes across different timeframes. Through a comprehensive understanding of these concepts, traders can identify high-probability trading opportunities and navigate the markets with confidence.
Real-world Example:
SCOB on M5 and SCM on M15 generate a powerful order block.
Conclusion:
MTF Internal Ranges Analysis - IRA - Phoenix for Smart Money Concepts is a valuable asset for traders seeking to add more insights in today's dynamic markets especially for Intraday Traders. By focusing on concepts like "Multiple timeframes and Confluences, with one single timeframe u can analyze all timeframes", "SCOB Internal Order Block. With its innovative features and user-friendly interface, whether you're a seasoned trader or just starting your journey, MTF IRA - Phoenix can help you navigate through the complexities of price action and make more informed trading choices.
This document provides an extensive overview of MTF Internal Ranges Analysis - IRA - Phoenix, emphasizing its importance in comprehending market dynamics and utilizing essential smart money concepts trading principles.
Fair Value Gaps
Introducing the Fair Value Gaps (FVG) Indicator by OmegaTools, a distinctive and analytical tool designed for TradingView. This script meticulously identifies and visualizes fair value gaps within the market, offering traders a nuanced understanding of potential price movement areas that are not immediately apparent through traditional analysis.
Concept and Methodology:
Fair Value Gaps are identified as areas on a chart where the price has skipped over, leaving a 'gap' that has not been filled. These gaps often occur due to sudden market movements triggered by news events, changes in market sentiment, or large orders that move the price significantly. The FVG Indicator detects these gaps by analyzing price action and identifying discrepancies between high and low prices over a specified period. This approach is rooted in the belief that markets tend to return to these unfilled spaces, providing potential opportunities for traders.
How It Works:
The indicator scans the chart for gaps between the high of one session and the low of the next (or vice versa), marking these gaps visually for easy identification.
Users can customize the lookback period to adjust the sensitivity of the indicator to recent versus historical data.
The FVG Indicator employs color-coding to distinguish between bullish and bearish gaps, allowing traders to quickly gauge market sentiment around these gaps.
Using the FVG Indicator:
Apply the indicator to any chart on TradingView and adjust the input settings, including the extension of FVGs and aesthetic preferences like color, to suit your analysis style.
Use the visual cues provided by the FVG Indicator to identify potential areas where the market may move to fill the gaps.
Combine the insights from the FVG Indicator with other technical analysis tools or fundamental analysis to validate potential trading opportunities.
Originality and Usefulness:
The FVG Indicator stands out due to its focused approach to identifying and visualizing fair value gaps, a concept that is often overlooked in conventional market analysis. By providing a clear visual representation of these gaps, the indicator adds depth to market analysis, aiding in the identification of potential price reversal zones or continuation signals.
Disclaimer and Responsible Use:
The financial markets are complex and unpredictable. The FVG Indicator is designed to offer analytical insights and should be used as part of a comprehensive trading strategy. It does not guarantee profits or predict market movements with absolute certainty. Traders are encouraged to use this tool judiciously, alongside proper risk management practices. Remember, past performance does not guarantee future results, and trading involves risks, including the potential loss of investment.
MFX Ultimate Scalper [Mohs Mayfair]MFX Ultimate Scalper is an all-in-one indicator that incorporates 5+ unique components designed for interoperability & confluence with one another to provide a powerful trend following & reversal detection experience.
Users can create various ways to utilize the indicator's features together such as looking for periods of price exhaustion in the market alongside strong reversal signals appearing or getting real-time divergence signals alongside a shift in volume with the volume overlay setting in the market to predict upcoming trends.
The indicator's confirmation feature integrates customizable moving averages and the Volume Weighted Average Price (VWAP), providing additional layers of insight. Traders can fine-tune moving averages to track trend reversals and retracements with precision, while the VWAP offers valuable insights into price and volume dynamics, aiding in the assessment of market sentiment and trends.
This indicator is described as an ”Ultimate Scalper” as it's made up of many different components that can create a systematic approach to analyzing markets alone, however, the indicator also can serve as a great secondary piece to a user's primary analysis.
⨭ FEATURES
Below we describe each component of MFX Ultimate Scalper in order of each's significance for the most confluent analysis possible.
➟ Heat Zones - indicating the relative intensity of price movement, with widening zones suggesting increased volatility and potential trading opportunities.
➟ Exhaustion Signals - Small triangles on the upper or lower heat band zones represent high frequency points that indicate possible reversals or a warning signal to upcoming larger reversal signals. Discerning instances of heightened buying or selling pressure, delineating zones of market saturation and depletion using the historical strength or weakness of a stock or market based on the closing prices of a recent trading period.
➟ Reversal Signals - Kalman filter and Hull trend indicators can reveal trend reversals by dynamically adapting to market conditions and providing timely signals based on smoothed price movements.
➟ Volume Overlay - Upon calculating the relative close of candles, this option allows a coloured overlay upon candles to help confirm volume changes in the market. When price of a closed candle is greater than then open price, the bar will print with a green overlay,
Generally, we recommend using these features in order from first to last, however it is always most productive to ensure you find further confluence alongside any signal that is generated using general market structure and analysis (such as drawing independent supply and demand zones for eg).
⨭ USAGE GUIDE
In the images below, we can see 3 points of interest to a user analyzing MFX Ultimate Scalper based on various different behaviors.
In the circled areas of interest price moves into a one of the heat zones and begins to print a small green or red triangle either above or below the candlestick structure - green = looking for buys and a possible bullish reversal & red = looking for sells and a possible bearish reversal.
As price begins to print these pre reversal points of exhaustion within these heat zones we can begin looking at the market.
This can be used independently or when wanting to perhaps increase the amount of confirmations we can look to apply the reversal confirmation setting, as per below:
What makes this signal particularly more of interest opposed to other reversal signals without the confirmation toggle applied that may not play out right away is the Kalman filter and Hull trend indicator begins to show a clear trend reversal. We can see that it may print the BUY or SELL label a few candles after the initial Small triangles in the upper or lower heat band zones however can be used as a more conservative point of trade entry.
This is a great example above showing how the momentum indicator that measures the magnitude of recent price changes to analyze overbought or oversold conditions (red and green triangles in the heat zone bands) can sometimes print multiple entries. We suggest that if you are looking to increase the accuracy of the signals we found moving to a higher time frame after more than 3 of these indicators have printed, helps.
It is a great indication that price may be looking to reverse and the pressure occurring and that the market could easily reverse in these conditions.
The candles that follow with the confirmation toggle setting means that you could move into a position a little later into the new trend reversal or retracement but also ensures that there is an extra level of confirmation that one is beginning or has begun.
The volume overlay setting is a fantastic tool to use when wanting to confirm your entries for trade and print a clear example in volume shift in the market - the greater the green candle, the greater the buying momentum. The greater the red candle, the greater the selling momentum,
This analysis combined gave us a further indication of a larger reversal which played out with no lag at all as all reversal signals are predictive separate from the Volume Overlay itself, which can be used as a further trend following approach alongside signals & custom hull trend alongside specific moving average confirmations.
In the image above we can see 3 possible setups and 3 different ways each using individual options.
Working left to right, the first setup adheres to:
➟PRICE IN THE BUY ZONE
➟GREEN BUY TRIANGLE REVERSAL
➟GREEN CANDLE VOLUME CHANGE
➟NO BLUE TREND LABEL CONFIRMATION
When scalping a position using the above signals we would aim for 10-15 pips which we can see here, with no drawdown was able to close and hit our suggested take profit within approximately an hour even though the confirmation trend reversal did not print on the chart
Setup two is another BUY signal and adheres to:
➟PRICE IN THE BUY ZONE
➟GREEN BUY TRIANGLE PRINTED
➟BLUE CONFIRMATION PRINTED
➟WAIT FOR THE NEXT CANDLE TO CLOSE
➟TAKE A BUY
This time we have a clear price exhaustion with the candles closing within the heat zones, just the first buy zone. The confirmation reversal trend prints soon after and although we do not have any confirmation on the volume change overlay we can infer that given they were printed very shortly prior to this confirmation and the preliminary Scalpers green triangles had also shown, the trade confirmation is still valid.
You could perhaps place your stop loss at the base of the reversal blue buy label and then set a 1:2 ratio or perhaps simply stick to the 10-15 pips.
With our final example the confirmations are:
➟PRICE IN THE SELL ZONE
➟RED SELL TRIANGLE REVERSAL
➟THE RED TREND CONFIRMATION LABEL
WAS TOO MANY CANDLES AWAY
TO CONSIDER THE TRADE
The volume indicator printing over an engulfing bearish candle whilst also being within our heat zone exhaustion sell area shows a shift in volume and momentum - as calculated, the open price of the candle is greater than that of the closed previous one thus showing RED overlay of the candle.
In order to better experience the volume overlay option we suggest changing your settings on tradingview by clicking the chart screen settings > symbol and changing the body and wicks of the candlesticks to grey.
We can potentially determine at certain points when to 'filter out' reversal signals or to just consider them merely indications of local tops/bottoms opposed to significant tops/bottoms.
Analyzing the reversal confirmation option is useful to consider a trend potentially coming to an end. We recommend studying the outlined chart above & the list of indications at each shaded area to develop a deep understanding of how to navigate varying market conditions & spot various points of confluence during reversals.
⨭CONCLUSION & ACCESS
This indicator is an extremely comprehensive approach to a variety of volume and volatility based tools predominantly that allows users to further develop a systematic approach to trading and can be paired alongside other forms of technical analysis.
Although we believe this indicator to be useful, it's critical to understand that past performance is not necessarily indicative of future results and there are many more factors that go into being a profitable trader.
You can see the Author's instructions below to get instant access to MFX Ultimate Scalper by Mohs Mayfair
ICT Weekly Profile Templates Dashboard by AlgoCadosThe ICT Weekly Profile Templates Dashboard is a tool meticulously crafted to integrate ICT Weekly Profiles and enrich your trading approach with profound insights. It provides a real-time analysis of market sessions, Daily Session Opens openings, and potential Points of Interest (POI) within the week, It outlines 12 profiles, serving as a roadmap with enhanced precision. By breaking down the trading week into specific profiles, it provides a clear framework to navigate market fluctuations.
# Key Features
Weekly Templates Dashboard : An advanced feature supported by an easy-to-understand table that lists all 12 profiles, simplifying the process of identifying current market scenarios and potential future movements.
Intraweek POI : Identifies key intraweek levels of interest (Daily Highs / Daily Lows) with configurable visual styles. Distinguish between buyside and sellside POIs with solid, dotted, or dashed lines in colors that stand out or blend in, according to your preference.
POI Raids Insights : Automatically updates the lines and label of a key level once it gets broken, highlighting the time when the high or low was taken out,.to provide a comprehensive overview of weekly market dynamics.
Customization at its Core : With inputs for line styles, colors, and even font specifications for text and labels, the dashboard is fully customizable to fit your charting needs. Whether you prefer solid lines for emphasis or dotted lines for a more subdued look, the choice is yours.
Utility and Style : The script doesn't just offer functional benefits; it also considers aesthetics. Choose from Monospace or Sans Serif fonts and adjust the size to ensure that your dashboard is not only informative but also visually pleasing.
# ICT Weekly Pattern
"xOTW" serves as placeholder for "LOTW" (Low of the Week) and "HOTW" (High of the Week). This visual shorthand allows traders to quickly interpret market conditions, with a combination of "xOTW" alongside directional arrows "↗" (Bullish) and "↘" (Bearish).
Bullish Patterns Analyzed
Mon LOTW: Monday Low Of The Week / Classic Buy Week;
Tue LOTW: Tuesday Low Of The Week / Classic Buy Week;
Wed LOTW: Wednesday Low of the Week;
MWK R: Consolidation Midweek Rally;
Thu LOTW: Thursday Low Of The Week / Consolidation Thursday Reversal (Bullish);
Fri S&D: Seek and Destroy Bullish Friday;
Bearish Patterns Analyzed
Mon HOTW: Monday High Of The Week / Classic Sell Week;
Tue HOTW: Tuesday High Of The Week / Classic Sell Week;
Wed HOTW: Wednesday High of the Week;
MWK D: Consolidation Midweek Decline;
Thu HOTW: Thursday High Of The Week / Consolidation Thursday Reversal (Bearish);
Fri S&D: Seek and Destroy Bearish Friday;
# Inputs
Offset: Adjusts the offset for the daily open marker, allowing users to shift the position of the session start visual cue on the chart.
Show Historic Data: Toggles the display of historical session data, enabling traders to either keep a continuous record of sessions throughout the chart or reset data at the start of each new week.
CME_MINI:ESH2024
Show Session Start: Activates vertical dividers at the start of each trading session, providing a clear demarcation of session boundaries.
Show Session Open: Displays the opening price for each session, offering immediate visual cues to the session's starting strength or weakness.
Extend Session Open: Extends the session's opening price line to the current bar, giving a persistent reference point throughout the trading session.
CME_MINI:ESH2024
Intraweek POI Styles and Colors
Start Line Style: Customizes the style of session start lines with options for solid, dotted, or dashed appearances.
Start Line Color: Chooses the color for session start lines, enhancing chart readability.
Daily Open Style and Color: Sets the style and color for the daily open lines, distinguishing them from other chart elements.
Buyside Line Style and Color: Adjusts the visualization of potential buyside areas of interest with customizable line styles and colors.
Sellside Line Style and Color: Configures the display for potential sellside points of interest, allowing for distinct visual differentiation.
Utils for Aesthetics and Clarity
Font Family and Size: Selects the font family and size for text elements within the indicator, ensuring clarity and consistency with your chart's aesthetic.
Text and Background Colors: Defines the color for text and background elements, facilitating a harmonious integration with the chart's overall color scheme.
CME_MINI:ESH2024
Embrace the essence of smarter trading where every insight is "Healthy For Your Trading."
Day of the Week LabelOverview:
The "Day of the Week Label Indicator" is a simple yet powerful tool designed for traders and analysts who use TradingView for chart analysis. This indicator adds a clear visual cue to your charts by displaying the first letter of each day of the week directly above the corresponding candlestick. With this indicator, you can easily identify the day of the week at a glance without cluttering your chart.
Key Features:
Day Identification: Marks each candle with the first letter of the corresponding day of the week (e.g., "M" for Monday, "T" for Tuesday, and so on), providing immediate day recognition.
Color-Coded Labels: Each day is color-coded for better visibility and quick identification. Sundays and Saturdays are distinguished from the trading week, making it easier to spot the beginning and end of the trading week.
Overlay Design: As an overlay, this indicator seamlessly integrates with your existing chart setup, enhancing your analysis without interfering with other technical indicators or chart elements.
Benefits:
Enhanced Chart Analysis: Quickly discern patterns or trends that may be specific to certain days of the week, aiding in the refinement of trading strategies.
Time Management: Helps in planning trading activities or analysis by visually highlighting the days directly on the chart.
User-Friendly: Simple and non-intrusive, this indicator is designed to complement your chart without overwhelming it with information.
How to Use:
Simply add the "Day of the Week Label Indicator" to your chart, and the first letter of each day will automatically appear above the corresponding candlestick. No additional configuration is required, making it suitable for both novice and experienced traders.
Whether you're conducting a detailed market analysis, looking for day-specific patterns, or simply want a clearer visual representation of the time on your charts, this indicator is an essential addition to your TradingView toolkit.
18 Bar MM RangeFirst Indicator in a (hopefully) many indicators to help bring Al Brook's methodoligies to Pine Script.
This indicator plots the highest and lowest close from the first 18bars of the NY session and uses them to plot the 18bar MM. Most days, a BO of the 18bar range is met. This is help to keep track of that key price action on your chart.
It doesn't plot until bar 18 has closed.
Candle DecompositionThe Candle Decomposition indicator shows the last 2 candles in detail, with 2 levels of lower timeframes (LTF).
In this way, you can keep oversight of history, while zooming in on the last and previous candle.
This tool is meant to be used in realtime, preferentially for intraday usage.
🔶 USAGE
In this example, on the current timeframe of 15 minutes, you see the 2 latest candles, visualized through dotted lines/boxes.
The first LTF level is set at 5 minutes, the second level at 15 seconds:
(The 2 exclamation marks are just to emphasize this is the latest price which will be repainted)
The combination of 2 LTF's can be helpful in finding support/resistance levels.
These are taken in realtime, not in bar replay, so the outcome wasn't known in advance:
(blue lines were drawn manually)
After first testing resistance, the price went to the support area, bouncing back to an area of resistance and breaking it briefly.
Price turned back, and found support, after which resistance was tested once more:
Support was again tested, after which resistance was clearly broken:
A bit later (every time 1 candle further):
The following example shows 2 last candles with signs of indecision, but LTF candles show support and resistance areas:
🔶 IMPORTANT
PP = TradingView Premium / Professional Plan
BEP = TradingView Basic / Essential / Plus Plan
This publication uses second-based TF's, which is only available for PP users.
To ensure a smooth experience for BEP users, we have disabled the setting "Premium/Professional Plan" .
BEP users will get a warning when trying to use a second-based TF.
If possible, BEP users should use non-second-based TF's.
PP users have to enable the setting "Premium/Professional Plan" .
🔶 DETAILS
🔹 Timeframes
Most common timeframes can be used: 2W, W, 3D, 2D, D, 12h, 8h, 6h, 4h, 3h, 2h, 1h, 30min, 15min, 10min, 5min, 3min, 1min
When having the current chart timeframe at 1 of these TF's, you can set 1st and 2nd LTF. Choices are pré-set to ensure maximum usage of drawings:
In the image above you'll see there are gaps between candles.
The script ensures that when there are no trades, instead of attaching the next bar next to the previous, it leaves the gap visible (which is more realistic).
More in detail you can see the gaps are preserved:
(compared between white -current TF- candles, and LTF candles)
🔹 Limitations
When on a Weekly TF, and 2nd LTF is set at 4h, all drawings have enough space:
If we change the 2nd LTF to 2h, there isn't enough space for the second last candle, after which an orange coloured informational warning label will be shown:
When current chart TF is not 1 of the encoded TF's, a red warning text will be shown:
This script can be used using "Bar Replay", but very limited.
You can change the date ("Jump To..."), but "Play" is not advisable.
🔹 Code
This script uses string manipulation to convert inputs like "1 hour", "5 min", "5 sec" to usable timeframe strings like "60", "5" and "5S"
• str.contains(str , 'hour') ? str.tostring(str.tonumber(str.replace(str, ' hour', '')) * 60) : str
• str.replace(input.string( '5 sec', '' , options= ), " sec", "S")
• str.replace(str, " min", "")
Since string manipulation consumes resources, these are place in local blocks.
While inputs always will be extracted, whether it is put in an if-block or not, the string manipulation only will be executed when condition is fulfilled, in this case when we are at the right timeframe.
In following example you'll always see the '1 sec' input, on every TF, but the string manipulation will only happen when we are at a 1 minute TF:
str = ''
if timeframe.period == '1'
str := str.replace(input.string( '1 sec', '' , options= ), " sec", "S")
// output -> "5S" or "1S"
The "visible chart function" chart.right_visible_bar_time is used to reset everything when a new candle starts. This makes sure that when using "barstate.islastconfirmedhistory", the second last bar is used. Also all lines & boxes are automatically removed, starting with a fresh slate.
chT = timenow > chart.right_visible_bar_time
•••
if chT
if barstate.islastconfirmedhistory
f(4)
if barstate.islast
f(2)
If boxes/lines end up before the first bar, or after the last bar, this can be messy.
To protect ourselves against it 2 techniques are used:
math.max(0, x) is used to make sure lines & boxes don't end up before the first bar,
isOK = index < last_bar_index is used to be sure that the width of 1 candle (here index) is not wider than the total of all bars (which is the same as last_bar_index)
🔶 SETTINGS
3 columns:
Current TF: This columns shows you the chart TF where LTF settings are applicable.
1st LTF: set the timeframe of the first level LTF
2nd LTF: set the timeframe of the second level LTF
Colours can be set for 3 timeframes
+4-4 ChartThis overlay indicator provides a visual representation of momentum and price direction within each bar (or candlestick). It does this by comparing the current bar's open, high, low, and close to the previous bar's values, highlighting the following conditions:
Strong Up (Green): All four components (open, high, low, close) are higher than the previous bar.
Weak Up (Light Green): Three out of four components are higher than the previous bar.
Strong Down (Red): All four components are lower than the previous bar.
Weak Down (Light Red): Three out of four components are lower than the previous bar.
White: None of the strong or weak conditions are met, suggesting possible consolidation or indecision.
How to Use: The +4-4 Chart Indicator can be helpful in identifying potential trend continuation patterns, reversals, or periods of consolidation. Traders might use the predominance of green or red to gauge overall market sentiment. It is most useful to visualise long term daily, weekly, monthly market trends for SPY and QQQ etc.
Candle Length >= 70This script will highlight candles that have 70 or more points difference between open and close price. It ignores high and low prices.
% Change CandleThis script creates a trading indicator that shows how much the price of a financial instrument (like a stock or currency) changes within each trading period, represented by candles on a chart. Each candle shows the range of prices from the highest to the lowest within a specific time frame.
The indicator calculates the percentage difference between the highest and lowest prices for each candle. If the closing price of the candle is higher than the opening price, suggesting that the price has gone up during that period, the indicator will display this percentage increase as a green line. Conversely, if the closing price is lower than the opening price, indicating a price decrease, it will display the percentage decrease as a red line.
In simple terms, this indicator provides a visual way to see how much and in which direction the price is moving during each trading period, with green lines showing periods of price increase and red lines showing periods of price decrease.
[KG] FCPO Spread*** Released Version 79 ***
------ INTRODUCTION ------
Spread trading where a trader buys one futures contract and sells another contract simultaneously.
Spread trading is popular because it is less risky when compared to outright futures trading. And since it is less risky, spread trading tends to have lower margin requirements.
------ DESCRIPTION ------
This indicator, FCPO Spread, is calculating the spread value of 2 FUTURE CONTRACTS and construct new candles based on Open, Close, High and Low of 2 contracts.
Moving Average were drawn based on spread value.
There's Spread Information at BOTTOM right of the chart which contain the following info.
Spread Contract Timeframe
Future Contracts Symbols for Spread calculation
Close = Spread/Difference of the 2 contracts.
Long Risk = Differences of Current level to SUPPORT
Short Risk = Differences of Current level to RESISTANT
------ ICONS ------
🚀 triggered when Bullish MA lineup, i.e Fast MA is above Slow MA (Default MA period 5,9,13,20).
L ONG is TURTLE Buy signal when spread closes above Turtle Resistant.
💥triggers when Bearish MA lineup i.e Fast MA is below Slow MA (Default MA period 20,13,9,5)..
S HORT is TURTLE Sell signal when spread closes below Turtle Support
Note : Closing price varies depend on chooses timeframe
------ USAGE ------
LONG when L signal appear.
L signal will appear when the spread breaks and closing above Turtle Resistant .
Turtle Resistant is calculated based on previous N candles high where N value (Default 5) is configurable in the setting.
It is better to LONG during uptrend i.e Bullish MA Lineup (represented by 🚀 icon)
SHORT when S signal appear.
S signal will appear when the spread breaks and closing below Turtle Support .
Turtle Support is calculated based on previous N candles low where N value (Default 5) is configurable in the setting.
It is better to SHORT during downtrend i.e BEARISH MA Lineup (represented by 💥 icon)
Custom Swing Index [AstroHub]Custom Swing Index - Unleashing Precision in Trend Analysis
🌟 Overview:
The Custom Swing Index is a meticulously crafted tool that empowers traders with advanced insights into market dynamics, specifically focusing on identifying potential trend reversals. Developed by AstroHub, this indicator stands out for its unique combination of price-related calculations, ratios, and averages, providing a comprehensive and nuanced view of market sentiment.
📈 Key Components:
Price Calculation:
- Price Change: Captures the difference between the current and previous closing prices.
- High and Low Points: Analyzes the high and low points of each bar for crucial price movement data.
Ratios and Averages:
- Upper-Lower Shadow Ratio: Measures the relationship between the upper and lower shadows.
- Open-Close Ratio: Evaluates the ratio of opening to closing prices.
- Sum Price Changes: Sums up price changes over a specified period.
Differences and Shadows:
- Open-Close Difference: Considers the difference between opening and closing prices.
- Upper and Lower Shadow Ratios: Examines the proportions of upper and lower shadows.
Bar Size Metrics:
- Average Bar Size: Determines the average size of each bar.
- High-Low Difference: Measures the difference between the high and low points.
Swing Indicator Calculation:
- The Custom Swing Index is the result of combining these components, creating a dynamic metric that reflects potential trend reversals.
🚥 How to Use:
Understanding the Indicator:
- Bullish signals may be indicated when the swing index surpasses a defined threshold.
- Bearish signals may be indicated when the swing index falls below the negative threshold.
Visual Interpretation:
- Color-coded bars enhance visual interpretation, turning green for bullish conditions and red for bearish conditions.
Entry Points:
- Look for entry points where circle markings are present, indicating potential opportunities.
Alerts:
- Integrated alerts keep traders informed of significant swings, ensuring timely decision-making.
TradesAI - Elite (Premium)This is an all-inclusive, premium indicator that focuses mainly on price action analysis, a form of looking at raw price data and market structure to analyze and capture areas of interest where price could react.
This indicator is a perfect trading companion that saves you a lot of time in trading price action. Some of the popular methods that use price action analysis are "Smart Money Concepts (SMC)", "Inner Circle Trader (ICT)", and "Institutional Trading".
🔶 POWERFUL TOOLS
The indicator combines three main tools as a trading suite:
Trendlines
Market Structure Breakouts (MSB)
Order Blocks (OBs) and Reversal Order Blocks (ROBs)
These 3 main tools are interconnected together. Below we go over each, and then explain how and why they are brought in together. Please also note that the indicator's settings have tooltips next to most of them, with more detailed information.
🔶 TRENDLINES
This indicator automatically draws the most relevant Trendlines from pivot high/pivot low (based on the defined settings) as origins, while keeping track of candle closes across these Trendlines to adjust or invalidate accordingly.
The indicator will draw all possible Trendlines up to the maximum allowed by TradingView's PineScript. It uses a bullish pivot high candle to draw downtrends, and a bearish pivot low candle to draw uptrends. The algorithm will draw the most suitable active Trendlines from those origin points.
The indicator takes the origin point as the first point of the Trendline, then starts looking for the immediate next same-type candle (bullish to bullish or bearish to bearish), to draw the Trendline between the origin candle and this newer candle.
An uptrend is a ray connecting two bearish candles, as long as the second candle has a Low higher than the low of the origin (first) candle. A downtrend is a ray connecting two bullish candles, as long as the second candle has a high lower than the high of the origin (first) candle.
Upon drawing, the indicator then starts monitoring and adjusting this Trendline, by keeping the origin always the same but changing the second point. The goal is to keep reducing the slope of the Trendline till it is at 0 degrees (horizontal line). That then makes the Trendline "final". Note that you have the option to keep all Trendlines or just show the final, in the settings.
So, the algorithm has three states for the Trendlines:
Initial: not tested, meaning price hasn't yet broken through it and closed a candle beyond it, to cause a re-adjustment of this Trendline.
Broken: a candle hard closed (opened and closed) across it but still, the direction of the trend is maintained with a new Trendline from the same origin – could be replaced (or kept on the chart as a "backside", which is what we call a broken Trendline to be tested from the opposite side) with a new Trendline from the same origin, to the newest candle that caused the break to happen, as then it becomes the new second point of that Trendline.
Final: a candle hard closed (opened and closed) across it and can't draw a new Trendline from the same origin maintaining the direction of the trend (so an uptrend becomes a downtrend or a downtrend becomes an uptrend at this point, which is not allowed). This marks the end of the Trendline adjustment for that origin.
To summarize the Trendlines algorithm, imagine starting from a candle and drawing the Trendline, then keep re-adjusting it to make its slope less and less, till it becomes a horizontal line. That's the final state.
Here is a step-by-step scenario to demonstrate the algorithm:
Notice how first an Uptrend (green ray) is drawn between point A origin pivot (picked by our smart algorithm) and point B, both marked by green arrows:
Uptrend then turned into backside (where it flips from diagonal support to resistance where liquidity potentially resides):
Then a new uptrend is drawn from the same point A origin pivot to a new point B matching the filters in settings.
Finally, it turns also into a backside and is considered final because no more uptrends could be drawn from the same point A origin point.
Unlike traditional Trendline tools, this indicator takes into account numerous rules for each candlestick to determine valid support and resistance levels, which act as liquidity zones.
Unlike conventional Trendline tools, this indicator allows the user to define the pivot point left and right length to capture the proper ones as origins, then automatically recognizes and extends lines from them as liquidity zones where a reaction is expected. Moreover, the indicator monitors those Trendlines in real-time to switch them from buying to selling zones, and vice-versa, as the price structure changes.
Features
Log vs. Linear scale switch to show different Trendlines accordingly. When updating the Trendlines, or deciding whether Touches/Hard Closes are met, it makes a difference.
Ability to show all forms of Trendlines, final Trendlines or just backside Trendlines.
Why is it used?
For experienced traders, it offers the advantage of time efficiency, while new traders can bypass the steep learning curve of drawing Trendlines manually, which could practically be drawn between any two candlesticks on the chart (many variations).
🔶 MARKET STRUCTURE BREAKOUT (MSB)
The Market Structure Breakouts (MSB) tool is a trading tool that detects specific patterns on trading charts and provides ‘take profit’ regions based on the extended direction of the identified pattern. A breakout is a potential trading opportunity that presents itself when an asset's price moves away from a zone of accumulation (i.e. above a resistance level or below a support level) on increasing volume. The most famous form of market structure breakout is double/triple tops/bottoms, or what is referred to as W or M breakouts.
See this example below of how our MSB smart algorithm picked the local bottom of INDEX:BTCUSD
Here is a step-by-step scenario to demonstrate the algorithm:
First, the algorithm picks the pivot points according to our Machine Learning (ML) model, which uses Average True Range (ATR) and Moving Averages of various types to decide. It will then signal a Market Structure Breakout (MSB):
You may either short (sell) this MSB towards the targets (dotted green lines) and/or buy (long) at the targets (dotted green lines). Usually, these targets provide scalp moves, according to our model, but they may also act as strong reversal points on the chart.
Unlike standard indicators, the MSB tool identifies patterns that may not appear in every time frame due to specific conditions that need to be met, including Average True Range (ATR) and Moving Averages at the time of creation. Once these patterns are identified, the tool gives ‘take profit’ regions in the direction of the trading pattern and even allows for trading in the opposite direction (contrarian/counter-trend scalps) once those regions are reached. A confirmed breakout has the potential to drive the price to these specific targets, calculated based on our Machine Learning (ML) model. The Targets are the measured moves placed from the breakout point.
Features
Log vs. Linear scale switch to show different MSBs accordingly based on the ratios.
Detects trading patterns with specific conditions.
Ability to specify how sensitive the pivot points are for capturing market structure breakouts.
Provides take profit regions in the extended direction of the pattern.
Allows for versatile trading styles by permitting trades in the opposite direction (contrarian or counter-trend) once the take profit region is reached.
Highlights 2 levels of interest for potential trade initiation (or as targets of the MSB move).
🔶 ORDER BLOCK (OB) and REVERSAL ORDER BLOCK (ROB)
Before diving deeper into OBs and ROBs, you may consider the following chart for a general understanding of price ladders, and how they break. This is a bearish price ladder leaving Lower Lows and Lower Highs after an initial Low and High (L->H->LL->LH). Bullish ladders are the opposite (H->L->HH->HL).
In this bearish ladder case, notice the numbers representing the highs made (being lower). While this is a clean structure, markets don't always create such clean ladders, but you may switch to a higher timeframe to see it in a clearer form (usually, you will be able to spot it there).
In SMC or ICT concepts, the "Break Of Structure (BOS)" is pretty much creating a new lower low (LL) for the bearish ladder (and the creation of a higher high (HH) for the bullish ladder). By doing so, markets are grabbing liquidity below these levels and could either continue the ladder or stop/flip it. This gives you the context of how the ladder prints.
Price usually ends the ladder with a "Change of Character (CHoCH)", which represents a BOS (to grab liquidity) followed by an aggressive move in the opposite direction, which could lead the market to close the gaps and balance out. It is considered a good practice to then target liquidity in the opposite direction when a CHoCH happens, meaning for a bearish ladder you may target the pivots marked by 3, 2 and 1 at the top (start of the ladder).
Now we move to Order Blocks (OBs) and Reversal Order Blocks (ROBs). Think of them as sniper zones or micro ladders inside the bigger ladder/structure.
Order Blocks are usually used as zones of support and resistance on a trading chart where liquidity is present, or what some traders call "potential institutional interest zones". Order Blocks can be observed at the beginning of these strong moves of BOS or the CHoCH, leaving behind a zone (one or more candles) to be revisited later to balance the market. Therefore, these are interesting levels to place Limit/Market orders (sell the peaks or buy the valleys) instead of doing so at the swing highs or swing lows of the ladder (where BOS or CHoCH happened). The idea here is that the price could go deep into the ladder's step (peak or valley), and by doing so, it usually goes to these zones.
A bullish Order Block (Valley-OB) is the last bearish candle of a downtrend before a sequence of bullish candles (thus forming a "Valley"). A bearish Order Block (Peak-OB) is the last bullish candle of an uptrend before a sequence of bearish candles (thus forming a "Peak"). Our indicator captures the full range zones of the OB meaning not only the last candle but the sequence of same-type candles immediately next to it, which creates a zone, thus the name "OB/ROB Zone". Not only does the tool mark those levels on the chart, but it also has a smart tracking algorithm to remove the appropriate levels dynamically. It will monitor, candle by candle, what is happening to all the OBs/ROBs, and update them according to how they are being tested/visited (eg. weak testing being a touch, and strong testing being a touch of the same colour candle).
Bullish Valley-OB:
Bearish Peak-OB:
The indicator follows our concept of "Zone Activation" to determine whether to mark zones with dashed or solid lines.
If we take a bearish Peak-OB as an example, notice how it first gets drawn with a dashed red line (as the algorithm monitors how far the price moved away from the zone):
As price moves away (distance based on our Machin Learning (ML) model), it turns into solid lines:
Some people prefer to enter market orders or limit (pending) orders close to the zone, while others wait for it to hit. You may wait for these zones to turn into solid lines (meaning that the price made a decent move away from it before revisiting it). It depends on your trading strategy.
When Order Block (OB) zones break instead of holding the ladder, they turn into what we call Reversal Order Blocks (ROB); our algorithm of flipping these zones where price could react from the other side of the OB. Our algorithm monitor and highlight the most suitable ones to trade, based on +30 conditions and variables by our Machine Learning (ML) models. Examples of ROBs in the SMC or ICT trading community are a "Breaker Block", a "Mitigation Block" or a "Unicorn Setup". However, our algorithm filters the zones based on many factors such as ratios of price movement before, inside and after these zones, along with many other factors.
The algorithm monitors the ratios of how price moved into and away from the OB/ROB, as well as the type of move happening, to then filter the ones that are considered of high probability to break/not do a reaction.
A bullish Valley-OB (green) turns into a bearish Valley-ROB (neon red) where you may short (sell), while a bearish Peak-OB (red) turns into a bullish Peak-ROB (neon green) where you may long (buy).
Example of a bullish Valley-OB that turned into a bearish Valley-ROB:
Features
Log vs. Linear scale switch to show OBs/ROBs accordingly based on the ratios and the price action around these zones (before and after creation).
Uses our Machine Learning (ML) model to determine relevant Order Blocks (OBs) to show or hide based on price action.
Considers distribution and accumulation candles to find relevant Order Blocks.
Various types of triggers to mark those Order Blocks and their zones: breakout, close, hard close (open and close) or full close (low, high, open and close).
Monitors the 1:1 expansion of price from key areas of interest, which would change the importance of the zones through our concept of “Zone Activation”.
Allows for customization in the settings to display different types of Order Blocks (e.g., tested or untested).
Marking and invalidating levels based on many variables, including single or multiple candle zones, touching/closing beyond specific levels, weak/strong testing criteria, price tolerance % (near a level), and many more.
Provides color-coded visual representation for easier interpretation.
Why is it used?
Order Blocks (OB) and Reversal Order Blocks (ROB) represent the building blocks of price ladders, in conjunction with Swing Highs and Swing Lows. By identifying where liquidity is potentially present, they become common targets for big market players. Additionally, they provide clear invalidation points based on various types of candle closes, such as hard closes or simply a candle close.
One strategy that could be used is to open positions at these OB or ROB Levels as long as the chart maintains the trend (ladder), for a potentially higher win rate (or against it for a quick scalp). Be mindful of the breaking of a ladder or the building of a new one. A ladder breaks with a hard close (open and close) of a candle across the closest two levels; a ladder builds by not breaking back down across the levels it has tested. By definition, 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 Highs or Higher Lows + Higher Highs).
🔶 COMBINING ALL TOOLS
In summary, Trendlines could be great tools to give you a general context of whether the price is laddering up or down. Once you spot the ladder, your goal is to either trade in its direction (not to go against the trend) or to counter-trend trade (contrarian). To do so, you could use the MSB tool to spot these BOS/CHoCH. And to give you more precise entries, you may rely on the OB/ROB zones which usually mesh over the ladder, to provide a sniper entry!
🔶 RISK DISCLAIMER
Trading is risky, and most day traders lose money. The risk of loss in trading can be substantial. Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Past performance does not guarantee future results. All content is to be considered hypothetical, selected after the fact, in order to demonstrate our product and should not be construed as financial advice. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition.
Kzx | RSI + Div + MACDComponents Description:
Relative Strength Index (RSI):
Purpose: Measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset.
Implementation: The script allows users to set the length of the RSI calculation and defines overbought and oversold levels, which can be visually represented on the chart. Additional features include options to fill and/or color the background of the chart when overbought or oversold levels are reached.
Divergence (Div):
Purpose: Identifies instances where the price of an asset is moving in the opposite direction of a momentum indicator, such as the RSI in this script. Divergences can signal potential trend reversals.
Implementation: The script provides options for users to define the conditions under which divergences are identified, including the source of price tops/bottoms, detection limits, and the maximum lookback period for divergence analysis. It visually highlights these divergences on the chart.
Moving Average Convergence Divergence (MACD):
Purpose: Tracks the relationship between two moving averages of a security's price. The MACD is used to identify trend direction, momentum, and potential reversal points through crossovers.
Implementation: The script calculates the MACD line and its signal line. It plots buy or sell markers based on crossovers between these two lines, indicating potential entry or exit points.
Script Category:
Category: Technical Analysis / Indicators and Strategies
Subcategory: Oscillators (for RSI and MACD) and Trend Analysis (for Divergence)
Usage:
The script is designed for traders and analysts who rely on technical analysis to make informed decisions in the financial markets. By integrating RSI, divergence detection, and MACD analysis into a single script, users can gain a more nuanced understanding of market conditions, potentially improving their trading strategies.
Customization and Visualization:
Users can customize various parameters, including lengths for RSI and MACD, overbought/oversold levels, divergence detection criteria, and visual aspects like colors and marker sizes.
The script provides visual cues directly on the price chart, making it easy to spot potential buy/sell signals, overbought/oversold conditions, and divergences without the need to switch between different indicators.
Ninja Trend v2Ninja Trend V2 is best for swing, day trading and scalping using higher timeframe bias and executing in the lower timeframes. Uses MACD for the overall bias and paints a Heikin-Ashi chart.
Settings:
Firstly, go to chart settings, check (tick) the body, uncheck borders and wicks.
Secondly, go to the script settings and input the following;
Source close
Fast moving average 7
Slow moving average 13
Signal length 4
For day trading and scalping, change the script settings timeframe to 15 minutes and use a smaller chart timeframe (M5 or M1)
For swinging change the script settings timeframe to Daily and use H4 chart timeframe.
Behind the code:
When the higher timeframe MACD histogram crosses and closes above zero line, script goes to neutral and paints grey bars waiting for the signal line to cross and close above the zero line and then paints green bars and a buy signal is generated.
When the higher timeframe MACD histogram crosses and closes below zero line, script goes to neutral and paints grey bars waiting for the signal line to cross and close below the zero line and then paints red bars.
Advantage of this is to filter out the chart noise by painting Heikin Ashi charts.
Signals:
Grey means neutral. No entries should be made.
Red means sells only. And then hold until the trend changes to green or use your desired TP and SL.
Green means buys only. And then hold until the trend changes to red or use your desired TP and SL.
