Protected Highs & Lows [TFO]This indicator presents an alternative approach to identify Market Structure. The logic used is derived from learning material created by @DaveTeaches
When quantifying Market Structure, it is common to use fractal highs and lows to identify "significant" swing pivots. When price closes through these pivots, we may identify a Market Structure Shift (MSS) for reversals or a Break of Structure (BOS) for continuations. The main difference with this "protected" logic is in how we determine the pivots/levels that are utilized to determine a valid MSS or BOS.
Nonetheless, the significance of our swing pivots is still governed by the input Pivot Strength parameter, which requires valid swing pivots to be compared to this many bars to the left and right of them. This is an optional parameter as it is traditionally set to 1 by default.
When identifying a BOS: When price closes below a valid swing low, we look back from the current bar to find the highest high that was made in that range. This becomes our protected high; similarly, when price closes above a valid swing high, we look back from the current bar to find the lowest low that was made in that range, which then becomes our protected low.
Note these valid highs and lows are the first swing pivots created after a MSS/BOS. For example, when price makes a bullish BOS/MSS and then trades away, a swing high is formed. This first swing high is what needs to be traded through to see a valid BOS.
When identifying a MSS: If the current trend is bearish and we're looking for a bullish reversal, we would need price to close above the most recent protected high. When this happens, we still look back to find the lowest low that was created in that range, and make that our new protected low. Likewise when looking for a bearish reversal, price would need to close below the most recent protected low, which would then give us a new protected high as a result (the highest point in that range).
The Trend Candles option allows users to easily visualize the current state of Market Structure with bullish and bearish colors. Users may also show BOS and MSS labels if desired.
Show Protected Highs & Lows will annotate the protected highs and lows, just note that the labels themselves are plotted in the past due to the lookback function required to identify them.
Lastly, the Show Protected Trail option will draw a line to essentially indicate a trailing stop-like line to denote the most recent protected low (if bullish) or protected high (if bearish).
I am simply a student of Dave's concepts, so please feel free to leave feedback if you are familiar with his concepts and have suggestions/improvements.
Candlestick analysis
NisonCandleScannerNison Candle Scanner (NCS) - the only indicator personally designed and tested by the acknowledged Western world’s top candlestick expert Steve Nison. Harness the proprietary technology of NCS to reveal important candle signals to quickly uncover potential entry and exit signals in any market and time frame. NCS is easy to set up and use... Discover for yourself how quickly it will boost your trading and investing confidence.
*Highlight 28 different candle patterns in either standard or strict criteria
*Strict Criteria candle patterns provide a tighter and higher quality definition of a pattern
*Utilize either pattern abbreviations or full names highlighted on your charts
*Scan for and be alerted to any or all of the candle patterns in any time frame, and any market
I’ve spent over 30 years totally immersed in candlestick charting techniques and using them correctly to help traders and investors around the world (my book has been translated in 22 languages and we have students from over 85 countries.)
Now using my decades of real world experience, I designed the easy to use tools in Nison Candle Scanner™ (NCS) to highlight, scan, and alert you to the 28 most powerful candle patterns that I personally use in my own trading. The research into this software was originally intended to save me hours of time to find in minutes the best potential setups in any market and any time frame. I’ve now opened up the power of NCS to TradingView and all of its users.
Since candle signals require both the correct shape of the candle lines AND the correct prior trend, we derived our proprietary formula to accurately take trend and the shape of the candle lines to ensure accurate results.
NCS will highlight these candle patterns for you in either full name or abbreviations, scan for any or all 28 of those patterns in your watchlists and time frames of choice, and then alert you to these critical candle signals in real time!
NCS will help you quickly find potential entry/exit points in any market and time frame before your competition.
Example of Highlighting Patterns with either Full Names or Pattern Abbreviations
Select between Yes, No, or Strict on 28 Different Candle Patterns
Bull :
Hammer
Inverted Hammer
Bull Counter Attack
Bullish Engulfing
Bull Harami
Piercing
Bull Sash
Bull Seperating Line
Tweezers Bottom
Rising Window
Morning Star
Rising Three
Three White Soldiers
Bear
Hanging Man
Shooting Star
Bear Counter Attack
Bearish Engulfing
Bear Harami
Dark Cloud Cover
Bear Sash
Bear Seperating Line
Tweezers Top
Falling Window
Evening Star
Falling Three
Three Black Crows
Neutral
Doji
High Wave
Scan for and Be alerted to any or all of the 28 patterns in your watchlists and timeframes
For those with proper candle education, the ability to highlight, scan, and be alerted to candle patterns will aide in identifying reversal and continuation patterns. Utilize Nison Candle Scanner to find the best potential setups that fit your criteria!
CBC FlipThis is an indicator for the Candle By Candle (CBC) Flip strategy as created by @MapleStax
It’s useful to traders because it’s a simple approach to gauge if bulls or bears are in control for any particular candle. The logic is as follows:
If the most recent candle close is above the previous candle high, then bulls are in control.
If the most recent candle close is below the previous candle low, then bears are in control.
If neither of these 2 conditions are met, then whoever was already in control remains in force until one of the 2 conditions is met and the sentiment is flipped, hence the name CBC Flip.
My script is original because there are no other CBC Flip scripts available on TV. This is the first, which is why I created it, to help other traders benefit from the power of CBC Flips.
The indicator output is simply interpreted as follows:
Triangle up = bulls in control
Triangle down = bears in control
In my experience this script is best used on the 5 or 10 minute time frames, as it helps to keep you in the trade for the bigger moves once a trend is established, while not getting shaken out from the “noisy” up/down candle price action of lower time frames like the 1 minute.
I’ve also had more success with this indicator when only taking long trades once the green triangle appears and price is above VWAP, and only taking short trades once the red triangle appears and price is below VWAP.
Tick Volume Direction IndicatorTick Volume Direction Indicator
This indicator captures:
• tick volume
• tick direction
The settings are as follows:
• volume or base currency value selection.
• label distance (away from the low of the candle).
• Tick volume - on/off switch for tick volume.
• label size.
• Up tick move color.
• tick move absorbed - when the tick doesn't change position.
• Down tick move.
On the first initial load, it will have the existing volume data as "?" as tradingview doesn't have a history of each tick.
Be aware, any settings change you make will refresh the tick data from start.
This indicator is one of the best real-time ways of seeing buying and selling pressure.
Choose Symbol, Mode with Hull,Stochatic Mom,EMA,MACD,RSI,TableThis Pine Script code is a comprehensive indicator for the TradingView platform, offering a variety of technical analysis tools. Below is an English introduction to its features and purposes:
Introduction:
This indicator is designed for traders on TradingView and provides a multi-functional analysis toolset. It includes different charting modes (Heikin-Ashi, Linear, and Normal), a Hull Moving Average (Hull), Stochastic Momentum, RSI (Relative Strength Index), MACD (Moving Average Convergence Divergence), EMA (Exponential Moving Average), Bollinger Bands, and a summary table displaying key metrics.
Key Features:
Charting Modes:
Users can choose between "Heikin-Ashi," "Linear," or "Normal" modes to visualize price data in different ways.
Hull Moving Average:
The script incorporates the Hull Moving Average for trend analysis, highlighting potential buy and sell signals.
Stochastic Momentum:
Stochastic Momentum, with customizable parameters (K, D, and Smooth), is included to identify overbought and oversold conditions.
RSI (Relative Strength Index):
RSI is calculated and displayed, aiding in identifying potential trend reversals or exhaustion points.
MACD (Moving Average Convergence Divergence):
The MACD indicator is included, along with a histogram, to highlight changes in momentum and potential crossovers.
RSI Momentum:
RSI Momentum is calculated, providing additional insights into momentum changes.
Exponential Moving Averages (EMA):
The script calculates and displays three EMAs (Exponential Moving Averages) with customizable periods.
Bollinger Bands:
Bollinger Bands are incorporated, offering insights into volatility and potential price reversals.
Summary Table:
A table is displayed on the chart summarizing key metrics, including Stochastic MoM, RSI, MACD, RSI EMA, Hull percentage change, and EMA values.
Customization:
Users have the option to customize various parameters, including chart modes, lengths of moving averages, Stochastic parameters, and more.
Usage:
The indicator aims to provide a comprehensive view of price action and potential trend changes. Traders can use it for technical analysis and decision-making.
Important Note:
This script is provided for educational purposes and does not constitute financial advice. Traders and investors should conduct their research and analysis before making any trading decisions.
Pipe tops & bottoms v1.0This indicator detects Pipe Tops and Pipe Bottoms chart patterns, using the concept described by Thomas Bulkowski: Tops , Bottoms .
Pipe tops and bottoms patterns are marked on the chart. You can change the indicator sensitivity by using the main settings which define detected price variation boundaries. This will lead to more dense or sparse pattern detection.
Once the bar following each detected top or bottom pattern satisfies signal condition (the current close price must be higher than the high of the pipe bottom, or lower than the low of the pipe top), these bars are also marked on the chart and can be used to define potential long or short entry points.
You can optionally choose to show only signal marks on the chart (this is preferable to avoid visual cluttering), or both pattern and signal marks.
Script calculations are based on the 'Pipe Bottoms Indicator Based on Thomas Bulkowski's Theories' indicator developed by BoilderRoomColdCaller in 2020.
Market Structure [Truth Indie]Market Structure
Market structure is a crucial component of various trading methodologies. If you can accurately map the market structure, tailored to the volatility or assets you are trading, it helps you identify trends clearly and enhances the accuracy of your trading strategies.
This indicator facilitates easy and swift mapping of market structure for traders. The market structure in this indicator consists of 3 types:
1.Fractal structure
2.Internal structure
3.External structure
FRACTAL STRUCTURE MAPPING
-Wick breaks are sufficient for a Fractal break of structure.
-The precise moment when the price breaks a Fractal high or low confirms the break.
BULLISH & BEARISH FRACTAL STRUCTURE
Bullish Fractal Structure:
-A Fractal high is validated when the subsequent candle fails to surpass its high (fractal pullback).
-A Fractal higher low is validated once the price breaches the Fractal high (always identify the NEAREST Fractal low). This will be the most recent candle that was unable to exceed the high of the previous candle.
Bearish Fractal Structure:
-A Fractal low is validated when the following candle fails to break its low (fractal pullback).
-A Fractal lower high is validated once the price breaks the Fractal low (always identify the NEAREST Fractal high). This will be the most recent candle that was unable to surpass the low of the previous candle.
Settings
-Show or hide text and lines, including adjusting the color of text and lines.
-Adjust the size of text, and change the type of lines, including modifying text when there is a BoS and CHoCH.
-Mark swing when there is a valid pullback, adjust the size and color.
INTERNAL STRUCTURE MAPPING
Body breaks confirm an internal structure break.
BULLISH & BEARISH INTERNAL STRUCTURE
Bullish Internal Structure:
-An internal high is validated with 4 optional criteria.
-An internal higher low is validated when the internal high structure is broken. A higher low refers to the lowest price.
Bearish Internal Structure:
-An internal low is validated with 4 optional criteria.
-An internal lower high is validated when the internal high structure is broken. A lower high refers to the highest price.
Settings
-Show or hide text and lines, including adjusting the color of text and lines.
-Adjust the size of text, and change the type of lines, including modifying text when there is a BoS and CHoCH.
-Mark swing when there is a valid pullback, adjust the size and color.
Validation of pullback has 4 options for exploration, with the default value set to Fractal CHoCH 1 time:
1.Fractal CHoCH 1 time.
2.Fractal CHoCH and wait for Fractal BoS/Fractal CHoCH 3 times in a row.
3.PIP Rule, using PIP to determine the distance of a valid pullback.
-Show or hide lines and values. This option will only display results when you activate the PIP Rule. Change the style of lines and change the color of lines.
-In the PIP field, enter the PIP value you want to explore. In the 1 PIP Size field, enter the decimal places in the asset you are trading. For example, for the EUR/USD pair with decimals at position 4.
4.ATR Rule, utilizing ATR multiples to establish the range of a valid pullback.
-Show or hide lines and values. This option will only display results when you activate the ATR Rule. Change the style of lines and change the color of lines.
-ATR type allows you to choose from 5 ma types. ATR Period adjusts the backward-looking average value you want to explore. Multiple: Enter a multiplier value for ATR to match the volatility or asset you are trading.
If you choose only ATR Rule, the result is the validation of the pullback with ATR Rule only. If you choose more than 1 option, whichever condition is true, the validation pullback occurs immediately. If you don't choose anything, the default value is Internal CHoCH 1 time.
Swing internal structure
-Show or hide text and lines, including adjusting the color of text and lines.
-Adjust the size of text, and change the type of lines, including modifying text.
Equilibrium internal
-Show or hide text and lines, including adjusting the color of text and lines.
-Adjust the size of text, and change the type of lines, including modifying text.
-Adjust the percentage of Equilibrium.
EXTERNAL STRUCTURE MAPPING
Body breaks confirm an internal structure break.
BULLISH & BEARISH EXTERNAL STRUCTURE
Bullish external Structure:
-An external high is validated with 4 optional criteria.
-An external higher low is validated when the external high structure is broken. A higher low refers to the lowest price.
Bearish external Structure:
-An external low is validated with 4 optional criteria.
-An external lower high is validated when the external high structure is broken. A lower high refers to the highest price.
Settings
-Show or hide text and lines, including adjusting the color of text and lines.
-Adjust the size of text, and change the type of lines, including modifying text when there is a BoS and CHoCH.
-Mark swing when there is a valid pullback, adjust the size and color.
Validation of pullback has 4 options for exploration, with the default value set to Internal CHoCH 1 time:
1.Internal CHoCH 1 time.
2.Internal CHoCH and wait for Internal BoS/Internal CHoCH 3 times in a row.
3.PIP Rule, using PIP to determine the distance of a valid pullback.
-Show or hide lines and values. This option will only display results when you activate the PIP Rule. Change the style of lines and change the color of lines.
-In the PIP field, enter the PIP value you want to explore. In the 1 PIP Size field, enter the decimal places in the asset you are trading. For example, for the EUR/USD pair with decimals at position 4.
4.ATR Rule, utilizing ATR multiples to establish the range of a valid pullback.
-Show or hide lines and values. This option will only display results when you activate the ATR Rule. Change the style of lines and change the color of lines.
-ATR type allows you to choose from 5 ma types. ATR Period adjusts the backward-looking average value you want to explore. Multiple: Enter a multiplier value for ATR to match the volatility or asset you are trading.
If you choose only ATR Rule, the result is the validation of the pullback with ATR Rule only. If you choose more than 1 option, whichever condition is true, the validation pullback occurs immediately. If you don't choose anything, the default value is Internal CHoCH 1 time.
Swing external structure
-Show or hide text and lines, including adjusting the color of text and lines.
-Adjust the size of text, and change the type of lines, including modifying text.
Equilibrium external
-Show or hide text and lines, including adjusting the color of text and lines.
-Adjust the size of text, and change the type of lines, including modifying text.
-Adjust the percentage of Equilibrium.
The values of these 4 options are: 1. PIP Rule in the internal structure 2. ATR Rule in the internal structure 3. PIP Rule in the external structure 4. ATR Rule in the external structure
These 4 options will be displayed only when the rule is selected along with choosing to display the value.
DISCLAIMER
All investments involve risks. Profit or loss depends on your knowledge, understanding, and decisions.
My scripts/indicators/strategies are created for researching past price behavior only. They are not investment advice, and future results are not guaranteed.
High Volume Engulfing Candle_bullHornThe "High Volume Engulfing Candle" indicator is a technical analysis tool used in trading to identify specific candlestick patterns that suggest potential reversals or significant price movements in a financial instrument. It focuses on two key criteria: the engulfing candlestick pattern and high trading volume. Here's a brief description of the indicator:
Engulfing Candlestick Pattern: The indicator looks for bullish and bearish engulfing candlestick patterns.
Bullish Engulfing: This pattern occurs when the current candlestick completely engulfs the previous one. In other words, the current candlestick's body (the open and close prices) is larger than the previous candlestick's body, and it closes higher than the previous candle's close. It suggests a potential bullish reversal.
Bearish Engulfing: This pattern occurs when the current candlestick's body completely engulfs the previous one, but in the opposite direction. The current candlestick's body is larger than the previous candlestick's body, and it closes lower than the previous candle's close. It suggests a potential bearish reversal.
High Volume Confirmation: In addition to the engulfing pattern, the indicator considers trading volume. It looks for instances where the volume accompanying the engulfing candle is significantly higher than a moving average of the volume. This indicates strong market participation and validates the importance of the engulfing candle pattern.
Arrows on the Chart: When a high volume engulfing candle pattern is detected, the indicator plots arrows on the price chart. A green triangle pointing up is used for bullish engulfing patterns, while a red triangle pointing down is used for bearish engulfing patterns. These arrows help traders quickly identify potential reversal points.
Overall, the "High Volume Engulfing Candle" indicator combines the visual recognition of candlestick patterns with volume analysis to provide traders with potential signals for trend reversals or significant price moves in the market. Traders can use these signals as part of their technical analysis and trading strategies.
Price-Action Candles (Lower)What is a swing high or swing low?
Swing highs and lows are price extremes. For example say we set our swing length to 5. A candle that is a swing high with a swing length of 5 will have 5 bars to the left that are lower and 5 bars to the right that are lower. A candle that is a swing low with a swing length of 5 will have 5 bars to the left that are higher and 5 bars to the right that are higher.
How is the trend coloring calculated?
The trend coloring is calculated the exact same way as our trend candles study... by storing and comparing historical swing lows and swing highs.
The pinescript code goes as follows:
The pinescript code goes as follows:
var int trend = na
trend := ((hh and high >= psh) or close > csh) ? 1 : ((ll and low <= psl) or close < csl) ? -1 : lh or hl ? 0 : trend
What does that gibberish mean?
-Trend can be GREEN IF
- We have a higher high (current swing high is greater than the previous swing high) and the high is greater than the previous swing high
- OR The current close is greater than the current swing high
-Trend can be RED IF
- We have a lower low (current swing low is less than the previous swing low) and the low is less than the previous swing low
- OR The current close is less than the current swing low
-Trend can be YELLOW IF
- We have a new swing high and the new swing high is less than the previous swing high
- OR We have a new swing low and the new swing low is greater than the previous swing low
If none of the conditions above are true then we continue with whatever color the previous bar was.
What is repainting?
Repainting is "script behavior causing historical vs realtime calculations or plots to behave differently." That definition comes directly from Tradingview. If you want to read the full explanation you can visit it here www.tradingview.com . The price-action candles use swing highs and swing lows which need bars to the left (past) and bars to the right ("future") in order to confirm the swing level. Because of the need to wait for confirmation for swing levels the plot style can be repainting. The Price-Action Candles (Lower) indicator, or this indicator, has no repainting anywhere. We opt to not shift back the candle coloring which causes the repainting, but it is relevant to discuss since this indicator's sibling (Price-Action Candles) can have repainting labels.
Repaint
Here the labels are shifted back the price-action length. Repainting is not present in the Price-Candles (Lower) study, but can be found in this indicator's sibling (Price-Action Candles).
Non-Repaint
Here the labels are not shifted back or "repainted". Repainting is not present in the Price-Candles (Lower) study, but can be found in this indicator's sibling (Price-Action Candles).
Multi-timeframe Analysis
The users can view multi-timeframe historical price action trend via this lower study. Each timeframe is plotted as its own on the lower pane and you can determine what timeframe it is by the label next to the plot.
More examples
Pair the Price-Action Candles (Lower) indicator with our main price indicator that colors candles based on trend and can show price action labels.
Price-Action CandlesWhat is a swing high or swing low?
Swing highs and lows are price extremes. For example say we set our swing length to 5. A candle that is a swing high with a swing length of 5 will have 5 bars to the left that are lower and 5 bars to the right that are lower. A candle that is a swing low with a swing length of 5 will have 5 bars to the left that are higher and 5 bars to the right that are higher.
How are the trend candles calculated?
The trend candles are calculated by storing and comparing historical swing lows and swing highs.
The pinescript code goes as follows:
The pinescript code goes as follows:
var int trend = na
trend := ((hh and high >= psh) or close > csh) ? 1 : ((ll and low <= psl) or close < csl) ? -1 : lh or hl ? 0 : trend
What does that gibberish mean?
-Candle can be GREEN IF
- We have a higher high (current swing high is greater than the previous swing high) and the high is greater than the previous swing high
- OR The current close is greater than the current swing high
-Candle can be RED IF
- We have a lower low (current swing low is less than the previous swing low) and the low is less than the previous swing low
- OR The current close is less than the current swing low
-Candle can be YELLOW IF
- We have a new swing high and the new swing high is less than the previous swing high
- OR We have a new swing low and the new swing low is greater than the previous swing low
If none of the conditions above are true then we continue with whatever color the previous bar was.
What is repainting?
Repainting is "script behavior causing historical vs realtime calculations or plots to behave differently." That definition comes directly from Tradingview. If you want to read the full explanation you can visit it here www.tradingview.com . The price-action candles use swing highs and swing lows which need bars to the left (past) and bars to the right ("future") in order to confirm the swing level. Because of the need to wait for confirmation to for swing levels the plot style can be repainting. With the price-action candles indicator the only repainting part of the indicator is the labels. The price-action candles themselves WILL NOT REPAINT. The labels however can be set to repaint or not depending on the user preference. If the user opts to use repainting then the label location is shifted back by the length of the price-action. So if the "Price-Action Length" input is set to 10, and the user wants repainting, the swing high/low label will be shifted back 10 bars. If the user opts for no repainting, the label will not be shifted and instead show on the exact bar the swing level was confirmed.
Examples Below.
Repaint
Here the labels are shifted back the price-action length.
Non-Repaint
Here the labels are not shifted back because the input setting is set to not repaint.
Multi-timeframe Analysis
The users can view the trend from multiple different timeframes at once with a table displayed at the bottom of their charts. The timeframe can be lower or higher than the chart timeframe.
More examples
Be on the lookout for the Price Action Candles (Lower) indicator where you can view the multi-timeframe labels on a lower price grid in order to see the history over time!
Wickless Candle IndicatorIt is designed to identify and visually highlight wickless candles on trading charts. A wickless candle is defined as a candle where the high equals either the open or close, and the low equals either the open or close, indicating no wicks.
Key features of the script include:
Customizable Line Width: Users can adjust the width of the lines drawn over wickless candles.
Wickless Candle Detection: A function isWickless is used to determine whether a candle is wickless based on its open, close, high, and low values.
Line Drawing and Management: The script draws lines over wickless candles and extends these lines as long as consecutive wickless candles are detected. The lines are terminated when a candle with a wick is encountered or when the line extends beyond one bar.
Visual Indicators: Wickless candles are marked with a cross shape above them, and lines are colored black for clear visibility.
Efficient Line Handling: The script uses variables to store and update line information, ensuring efficient management of the drawn lines as new price data comes in.
This indicator is particularly useful for traders who consider wickless candles significant in their analysis, providing an automated and visually clear way to identify these candles on a chart.
FTFC (The Strat)This indicator provides the status (red="down/short", green="up/long") of the current and higher timeframes in conjunction with The Strat, created by Rob Smith. In The Strat, Rob states that one should trade in the direction of timeframe continuity. What this means is if the majority of higher time frames are trading to the upside, one should only take long positions on the current timeframe. The more timeframes trading in the same direction increases the likelihood that a trade will work out in the trader's favor. The purpose of this indicator is to provide a visual cue as to when the current symbol has reached Full Timeframe Continuity (FTFC). For example, M5, M15, M30, H1 all green, only take long trades on the M5 time frame.
TSCandleColor (The Strat)This indicator highlights 1 and 3 candles based on The Strat, created by Rob Smith. In The Strat, candles can only take one of 3 forms, an inside bar or a '1' where the high and low of the current candle are within the high and low of the previous candle, an outside bar or a '3' where the high and low of the current candle are outside of the previous bar, and a '2' bar where either the high or low of the current candle surpasses the previous candle but not both. Since '1' and '3' bars are key to many setups, this script highlights those candles. Highlighted colors are configurable by the user. This indicator further draws a line at the 50% mark of the previous candle for use in conjunction with the teachings of Sara Strat Sniper and her 50% rule. Her 50% rule states that when a '2' candle passes the 50% mark of the previous candle there is a high likelihood of that '2' candle becoming a '3'. Having this already drawn on the chart with each new candle makes it much easier to see this real-time. The color and style of the 50% line is also configurable.
Trend-based Price Action StrategyThis is a strategy script that combines trend-based price action analysis with the Relative Strength Index (RSI) and Exponential Moving Averages (EMA) as trend filters. Here's a summary of the key components and logic:
Price Action Candlestick Patterns:
Bullish patterns: Engulfing candle and Morning Star.
Bearish patterns: Engulfing candle and Evening Star.
RSI Integration:
RSI is used to identify overbought and oversold conditions.
EMA Trend Filter:
Three EMAs with different periods: Fast , Medium and Slow.
Long trend condition occur when the fast EMA is above the medium and the medium is above the slow EMA.
Short trend condition occur when the slow EMA is above the medium and the medium is above the fast EMA.
Long entry conditions: RSI is oversold, RSI is decreasing, bullish candlestick pattern, and EMA trend filter conditions are met.
Short entry conditions: RSI is overbought, RSI is decreasing, bearish candlestick pattern, and EMA trend filter conditions are met.
Exit conditions:
Take profit or stop loss is reached.
Plotting:
Signals are plotted on the chart when entry conditions are met.
EMAs are plotted when the EMA trend filter is enabled.
This script aims to capture potential trend reversal points based on a combination of candlestick patterns, RSI, and EMA trend analysis.
Traders can use this script as a starting point for further customization or as a reference for developing their own trading strategies. It's important to note that past performance is not indicative of future results, and thorough testing and validation are recommended before deploying any trading strategy.
Opening Range & Prior Day High/Low [Gorb]Introduction:
Opening Range & Prior Day High/Low indicator is an easy to use day traders tool. This indicator automatically plots the previous days high and low, as well as drawing a box from the opening range that the user specifies in the settings. These two together can help provide an indication of market sentiment and price trends for the day. They are often used as a trading strategy for day traders.
Overview:
The Opening Range , draws a box from the high to the low of the user defined time period and is extended until the end of the trading session. Most common are the 5/15/30min opening ranges.
Prior Day High/Low , draws lines from the previous days high and low that extend across the current session. These are used as support/resistance and also a marker to see market sentiment by crossing one of these levels.
The indicator is designed for all kinds of traders, offering a simple approach to automatically plot levels for you.
Features:
All skill-level friendly presets, easy to enable with one-click
Opening Range: Allows user to choose what time the range starts and ends to measure the high & low.
Extend Range Lines: allows the user to choose when the box stops extending according to the trading session time.
Enable Opening Range Box: allows the user to choose to plot the opening range or not.
ORB Border Color: allows the user to change the box border color.
ORB Box Shade Color: allows the user to change the background of the opening range box.
ORB Line Width: allows users to chose the width of the opening range box lines.
Enable Previous Day High: allows users to enable the previous days high to be plotted.
Enable Previous Day Low: allows users to enable the previous days high to be plotted.
Previous Day High Color: allows users to choose the color for this line.
Previous Day Low Color: allows users to choose the color for this line.
All colors are changeable for the user to customize to their liking.
Usage Demonstration
In the image below, we can see a basic example of how these 3 features function.
As explained above, the opening range is customizable to meet the users needs and can be disabled with one click. Same goes for the prior day high(green) and low(red) lines. All 3 are plotted each day automatically for the user if enabled.
In the image below, we can see an example of using the opening range break and prior day high together for a trading strategy.
This is a great example of using the prior day high with the opening range to use as a day trading strategy. It provides the trader with levels to watch for price to break out from for possible trade setups.
In this next image, we can see a failed breakdown from the opening range that results in a bullish breakout.
The first move was a fake breakdown with the failed rejection on the retest of the opening range lows. This led to a breakout above the range and a confirmation bounce on the breakout retest. Price did break above the prior day high and confirmed with a retest bounce on that level as well.
In the image below, we can see how previous days levels can act as resistance to use with the opening range.
Price didn't reject the opening range low, but it did reject the prior day high for the second time. This could be used as an entry or once price breaks down out of the opening range again.
Conclusion:
We believe in providing user-friendly tools to help speed up traders technical analysis and implement easy trading strategies. The goal is to provide a user-friendly indicator to automatically draw opening ranges and previous days levels to suit the users needs and trading style.
RISK DISCLAIMER
All content, tools, scripts & education provided by Monstanzer or Gorb Algo LLC are for informational & educational purposes only. Trading is risk and most lose their money, past performance does not guarantee future results.
simple pull back TJlv26This is a very simple strategy for swing trade in stock indexes.
this strategy only trade long position, recommend to use this in day chart of sp500 or nas100.
SPX
NDX
Buy condition:
close price above long term SMA(default period 200),close price under short term SMA(default period 10), RSI is under 30(default period 3)
Sell condition:
1:if close price is above short period SMA and current close price is lower than low price of previous bar
2:hit the take profit target(default value 10%)
3:hit the stop loss target(default value 5%)
from author:
As you can see, it's a very simple logic. You only start trading when the price is above long-term moving average, so you can avoid risk by taking positions only in the uptrend. You also use stop-loss, so even in situations where there is a significant downturn, you can minimize losses.
However, it's important to note that this strategy performs well only in markets where long-term (approximately 10 years) upward movements are expected. It often yields disappointing results during prolonged bear markets. This is where each user's fundamental analysis comes into play, as there is no such thing as a perfect trading logic.
Another noteworthy point is that, as seen in the results of back testing, this strategy tends to underperform buy-and-hold in most cases. As mentioned earlier, it's a strategy focused on risk mitigation and starting trades at the most advantageous prices, so I believe that using leverage of 2-4 times can maximize profits. However, trading with leverage is highly risky, so it should be assessed based on each individual's risk tolerance.
MTF ChartingKey Features
Visual Settings: The script allows customization of the visual aspects of the candlesticks. Traders can select colors for the bodies, borders, and wicks of bullish (rising) and bearish (falling) candles. This customization enhances readability and personal preference alignment.
Timeframe Settings: Traders can choose up to five different timeframes (labeled as HTF 1 to HTF 5) to display on the main chart. For each selected timeframe, traders can specify the number of candlesticks (bars) to display.
Candlestick Representation: The script redraws the candlesticks from the selected timeframes onto the main chart. This redrawing includes the high, low, opening, and closing prices of the candlesticks for each timeframe, providing a multi-dimensional view of market trends.
Labeling: The script includes an option to label each set of candlesticks with their respective timeframe for easy identification.
Practical Usage for Traders
Market Analysis: By displaying candlesticks from different timeframes, traders can analyze the market more comprehensively. For instance, while the main chart might show a short-term trend, the MTF charting can reveal a different longer-term trend, aiding in more informed decision-making.
Trend Confirmation: Viewing multiple timeframes simultaneously helps in confirming trends. If multiple timeframes show a similar trend, it might indicate a stronger, more reliable trend.
Identifying Reversals: The script can be useful in spotting potential trend reversals. For example, if the lower timeframe shows a bearish trend while the higher timeframe remains bullish, it might signal a potential reversal.
Customization for Strategy Alignment: Traders can customize the timeframes and the number of bars to align with their specific trading strategies, whether they are short-term day traders or long-term position traders.
Technical Aspects
The script uses arrays to store and manipulate candlestick data for each timeframe. This approach ensures efficient handling of data and updates.
Examples
- Display up to 5 timeframes on your main price chart. You are able to get a zoomed out view of the market without taking up too much screen real estate.
- Show a lower timeframe on your primary chart. In this instance maybe you primarily look at the 5 minute chart, but like to refine your entries on the 1 minute. Here you can do it with one chart.
- Look at how the daily candle is forming relative to the timeframe that you are currently on. You can more easily spot where price closed and opened on certain days.
Displacement Order Blocks ~ DOB [Liquidity_Pro]Displacement Order Blocks (DOB)
This indicator shows order blocks with displacement (FVG required) and leans heavily on ICT’s generous and insightful teachings to define midlines for FVG, IFVG, and order blocks. The market structure definitions follow TradingHub’s (TH) rules filtering out inside bars.
It offers alerts for price in order block, liquidity sweep, break of structure (BOS), change of character (CHoCH), and inducement (IDM).
The TH model was chosen because it's programmatic allowing clear structure definitions that allow us to mark inducements (S/O to @albatherium for publishing the first TH market structure indicator).
TH’s Single Candle Order Block (SCOB) rules have also been helpful in refining order block definition, for example in the Transfer case. ICT fans will see when back testing this, that it moves the focus closer to the FVG.
In developing this indicator, we've tried to offer great aesthetic flexibility, to keep the chart uncluttered and to avoid exceeding Trading View’s limitations on boxes and lines. It's also configured to work reasonably well on both light and dark background charts:
We hope this indicator can serve as a teaching tool for ICT’s price action insights and SMC market structure concepts. For this, we've included optional labels for various order block types:
I = inside bar. The bars that follow the order block have been ignored – you will see the number of ignored bars shown after a hyphen. The idea is that inside bars fall in the shadow of a more important candle and can’t be relied on for defining a trade.
S = standard case. The order block candle takes liquidity from the previous candle and is followed immediately after by an FVG on the next candle. This differs technically from the ICT “last down-close/last up-close” order block concept. In practice, this choice has very little impact on ICT trading, because the ICT trader is entering on the FVG anyway.
T = transfer case. This is an order block that has been transferred from the candle that takes liquidity to the candle just prior to the FVG. When you back test this, you will see it is a high probability choice.
TZ = tweezer. This is an option you can turn off that fills a hole in TH teachings. It bypasses the requirement for an order block to take liquidity from the previous candle in the case of equal h/ls. The result is that you will find 2 candle order blocks with equal highs and lows (also known as tweezer tops/bottoms) show on your chart. You will note that every tweezer is a wick on a higher timeframe.
W = wick. this is a big wick candle that we call an order block without requiring an FVG. The presumption is that the displacement is contained within the wick itself on a lower timeframe.
* Asterisk denotes an extreme order block.
Finally, we trade with this indicator (using it together with our Daye Quarterly Theory ~ DQT free indicator, taking trades when price reaches an extreme FVG or order block during a Q2 manipulation).
We will continue developing it along with other indicators we have not yet published. So please boost if you like this and follow us for updates. Also please let us know what new features you would like to see.
Daye Quarterly Theory ~ DQT [Liquidity_Pro]Thanks
This indicator puts the time-based research of trader Daye on your chart. Daye studied the ICT killzones and macro times and presented his findings, as “Quarterly Theory” on YouTube. Thank you Daye for sharing!
This indicator is not the first, so S/O to @toodegrees, @a1tmaniac and @joshuuu for their own excellent Quarterly Theory indicators. Last but not least, huge thanks go to ICT for his trading innovation and generous free price action education and to @twingall for his insight, attention to detail and great teamwork coding this indicator.
Daye’s Quarterly Theory
First, the fundamental concept is that all units of time can be divided by four into quarters -- just as we look at the year’s corporate reporting cycle of Q1, Q2, Q3, and Q4.
Dividing the day by four, into six hour quarters and again into 90 minute quarters and again into 22.5 minute ‘Micro’ quarters we reach the smallest unit shown by this indicator. Apply it to your NQ1! or ES1! charts and you may see remarkable confluence with the ICT macro times!
Why would we want to do this? It helps us understand, visualize and predict ICT’s PO3 concept:
• A - Accumulation (required for a cycle to occur)
• M - Manipulation
• D - Distribution
• X - Reversal/Continuation
The bottom line - we want to sell after a manipulation (M) up, or buy after a manipulation down and Quarterly Theory plots times on your chart where this may occur. Every asset is different, so back-test and research it.
Note, this indicator always shows Q1 as the accumulation quarter (by color), but the order is not fixed and instead of AMDX may appear as XAMD, where Q1 is the Reversal/Continuation quarter. We may eventually offer an update to this indicator which would automatically transpose the quarter colors for you.
The Quarters
Yearly:
• Q1 - Jan, Feb, Mar
• Q2 - Apr, May, Jun
• Q3 - Jul, Aug, Sep
• Q4 - Oct, Nov, Dec
Monthly (starts with the first month’s Monday regardless of the date):
• Q1 - Week 1, first Monday of the month
• Q2 - Week 2, second Monday of the month
• Q3 - Week 3, third Monday of the month
• Q4 - Week 4, fourth Monday of the month
Weekly (Daye ignores Friday and Sunday’s price action):
• Q1 - Mon
• Q2 - Tue
• Q3 - Wed
• Q4 - Thu
Daily (times are all EST / New York):
• Q1 - 18:00 - 00:00 Asia
• Q2 - 00:00 - 06:00 London
• Q3 - 06:00 - 12:00 NY AM
• Q4 - 12:00 - 18:00 NY PM
90 Minute:
• Q1 - 18:00 - 19:30
• Q2 - 19:30 - 21:00
• Q3 - 21:00 - 22:30
• Q4 - 22:30 - 00:00
Micro (22.5 minute quarters, DQT only displays Micros on 7 minute TF or lower)
• Q1 - 18:00 - 18:22:30
• Q2 - 18:22:30 - 18:45
• Q3 - 18:45 - 19:07:30
• Q4 - 19:07:30 - 19:30
About the DQT Indicator
This indicator plots the quarterly time boxes in a panel which can be placed above or below your chart. It allows you to add labels with the opening time and dates and also place time of day markers which can be useful for anyone who wants to mark lunch, and of the trading day or perhaps a favorite ICT macro time. It also works on GOLD (CAPITALCOM), DXY (TVC), currencies and stocks in Regular Trading Hour (RTH) mode.
Note the way that the indicator displays quarters is affected by the time frame you are viewing and as a result you may notice imperfections. Also, the indicator is not tuned to work with every broker, so for example with DXY, you will see the TVC feed is displayed nicely but other feeds are not.
Settings
The DQT indicator offers a great deal of flexibility to customize the display of quarters aesthetically. But it’s designed to work out-of-the-box on both light and dark background charts. It's set up to only show 90 minute and micro quarters initially, but in the settings, you can turn on the daily, weekly, monthly, and yearly quarters. Remember you will only see the Micros on the 7 minute TF or lower.
Lastly, the DQT indicator works well with our DOB indicator allowing you to visualize the confluence of high timeframe PDAs or POIs with manipulation quarters.
If you find our indicators useful, please boost, comment and share -- it's very motivational for us to develop them further and publish new ones!
Predictive Candles Variety Pack [SS]This indicator provides you with the ability to select from a variety of candle prediction methods.
It permits for:
👉 Traditional Linear Regression Candle Predictions
👉 Candle Predictions based on the underlying Stochastics
👉 Candle Predictions based on the underlying RSI
👉 Candle Predictions based on the underlying MFI
👉 Candle Predictions based on the EMA 9
👉 Candle Predictions based on ARIMA modelling
Which is best?
Each method serves its unique purpose.
Here are some general tips of which candles are better suited for what:
🎯Trend Following🎯
For Trend following, the EMA 9 would be an appropriate choice of candle as it helps you to identify the current trend and potential early pullbacks/reversals.
🎯Momentum Following🎯
Momentum following is best carried out with the Stochastics Candles.
🎯Pullback Determination🎯
Pullback Determination is best accomplished through the RSI candles, as the ranges compress or expand based on the current state of oversold/overboughtness.
🎯Detrended Range🎯
To see the detrended range of where the ticker should be falling, absent the trendy noise, it's best to use the ARIMA candles.
Other Features
👉 Other features include a Backtest option that can be toggled on or off and will backtest over the length of the assessment. I don't recommend leaving it on as it can be resource-heavy on Pinescript though.
👉 The ability to adjust the transparency of the candles if you want them to be more or less visible.
Troubleshooting Note
The ARIMA modeling version is extremely resource-heavy, as it has to fully develop an ARIMA model. I have tried to optimize it by reducing the lagged assessment to just 2 lags. If you are using a free or non-premium membership, you may need to reduce the length of the assessment.
And that's it! Pretty straightforward indicator.
Hope you enjoy it!
Alert on Candle CloseAlert on Candle Close is a simple indicator allowing you to set alerts when a candlestick closes.
Instructions for use
From the chart window, click on "Indicators" and search for "Alert on Candle Close".
Click on "Alert on Candle Close" to add the indicator to your chart. Click on the star icon to add it to your favourites to easily access later.
Set your chart timeframe to the timeframe you wish to alert on. For example, to create an alert when a 4h candlestick closes, set your chart to the "4h" timeframe.
Hover over the "Alert on Candle Close" indicator which has been added to your chart and click the ellipsis "..." icon, then click "Add alert on Alert on Candle Close" or use the keyboard shortcut "Alt+A" from the chart.
In the alert pop-up window, make sure "Condition" is set to "Alert on Candle Close" and "Trigger" is set to "Once Per Bar".
Optionally, you can set a custom expiry for the alert, give the alert a name and customise the alert message. You can configure notification settings from the "Notifications" tab.
Click "Create" and your alert is set up!
Each alert is tied to the timeframe and chart it was created on, so you can change the timeframe or asset and create more alerts by repeating the above process.
Note : this indicator is only designed to work with time-based chart types, such as Bars, Candles or Heikin Ashi. It will not work for non-time charts such as Renko.
FAQs
Why do my alerts sometimes not fire as soon as the candle closes?
This is a limitation with Pine Script's execution model. Indicators are calculated whenever a price or volume change occurs i.e. when a new trade happens. For illiquid or slow moving markets, there may be some time between when a candle closes and the next trade, leading to a delay in the alert triggering. The alert will trigger on the next tick of data on the chart.
Why can't I create more alerts?
TradingView has a limit on the number of active technical alerts you can have based on your membership tier. To configure more alerts, consider upgrading your TradingView plan to a higher tier. See a comparison of TradingView plans at www.tradingview.com
My alert only fired once, how can I get it to keep working?
When configuring the alert in the alert pop-up window, make sure you set "Trigger" to "Once Per Bar" and "Expiration" to "Open-ended alert".
