Triple EMA Trend AlertThis EMA trend indicator works by determining if a short-term EMA is above an intermediate-term EMA that is in turn above a long-term EMA (in a bullish trend) or if the reverse is true in a bearish trend. An alert box is displayed on the chart to give a trend trader a quick at-a-glance reference to see which way the overall trend is moving by turning green when the trend is overall bullish, red when overall bearish, and gray when indecisive and not clearly trending (a good time for the trend trader to consider setting back and just observing as they wait for a new trend to develop). Text is displayed in the box showing the current overall trend direction. Sometimes, using this criterion, a trend can still be considered overall bullish while the EMAs are actually bearish prior an EMA crossover that results in a trend readout change to indecisive or in the opposite direction. For this reason, the indicator will also display in parenthesis if the EMAs are trending lower or higher by comparing all live-bar EMA values to that of the previous bar’s values to determine if they are collectively trending lower or higher at that time in order to give an early warning of a potential trend reversal before the EMA crossovers change the overall bullish or bearish readout of the indicator. Both the alert box and EMA line chart overlays can be turned on and off independently, if desired.
Chart patterns
Supply & Demand Trade Analyzer by NYTCSupply and Demand Trade Analyzer
Automatic Zone Identification
• Identifies high quality supply and demand zones on multiple timeframes
• Shows the prices for each zone so the user may easily identify actionable prices to buy or sell
• Once a zone is no longer valid, it is automatically removed from the chart to keep the workspace clean.
• Includes all 4 zone formations: DBR, RBR, RBD and DBD
What are supply and demand zones?
Supply and demand zones are visual representations of areas where there has been a price imbalance. Whenever a demand imbalance is detected, the indicator will plot a green demand zone which may be used as an area to buy under the right market conditions, such as an uptrend or to take profit on a short position. Also, whenever a supply imbalance is detected, the indicator will plot a red supply zone which may be used as an area to sell under the right conditions such as a downtrend or to take profit on a long position.
Automatic Trend Analysis
Proper trend analysis is one of the most important steps in successfully trading or investing in the financial markets as it helps the trader determine which side of the market, he/she wants to take: long or short. For this reason, we decided to also include in this indicator our unique trend analysis technique that utilizes highs and lows to detect when trends begin, how they continue and when they end. The indicator is able properly identify uptrends (Higher Highs and Higher Lows), downtrend (Lower Highs and Lower Lows), and sideways trends (relatively equal highs and lows, higher highs but lower lows or lower highs but higher lows).
• The trader can toggle this feature on or off as needed.
• Our unique trend indicator is located at the bottom of the chart so, as not to interfere with the candles and hide important information.
• When the indicator shows green, the trend is up, when it shows red, the trend is down and sideways when the indicator shows grey.
How it works
Being that supply and demand zones are areas of potential imbalance, under the right conditions price may reverse at these zones. Use them in conjunction with your entry and exit rules to maximize efficacy and minimize risk.
User Inputs
In the settings menu you will find the following functions:
• Zone Count: Allows the trader to determine how many zones are shown on the chart
• Zone-on-Zone: Give the trader the option to also see overlapping zones
• Minor Zones: While the indicator plots major zones by default, this function gives the trader to see all zones in real time as they are being formed.
• HTF Trend: Give the trader the option to turn on our unique trend identification tool
• LTF Momentum: Allows the trader to toggle on or off our unique lower timeframe momentum finder. This tool is best used during the Globex of the Futures session for short-term trading (scalping)
Instruments
Our Trade Analyzer works across all asset classes and on all instruments, including:
Stocks
Futures
Forex
Cryptocurrencies
Summary
The Supply and Demand Trade Analyzer offers traders a quick and easy way of identifying supply and demand or support and resistance areas on a chart. It provides:
• Zone Identification: Proper zone identification on multiple timeframes
• User-Friendly Customization: With a variety of user inputs, you can tailor the analyzer to fit your unique trading strategy.
• Cross-Asset Compatibility: Works seamlessly across all major asset classes and instruments.
• Clean Workspace: Automatic removal of invalid zones keeps your chart organized and focused on the most relevant information.
• Real-Time Insights: Stay ahead of the market with real-time zone plotting and trend analysis, enabling timely and strategic trades.
Reversal Candlestick Structure [LuxAlgo]The Reversal Candlestick Structure indicator detects multiple candlestick patterns occurring when trends are most likely to experience a reversal in real-time. The reversal detection method includes various settings allowing users to adjust the reversal detection algorithm more precisely.
A dashboard showing the percentage of patterns detected as reversals is also included.
🔶 USAGE
Candlestick patterns are ubiquitous to technical analysts, allowing them to detect trend continuations, reversals, and indecision.
The proposed tool effectively detects reversals by using the confluence between candlestick patterns and a reversal detection method based on the stochastic oscillator, acting as a filter for the patterns. If a candlestick pattern occurs while conditions suggest a potential reversal then the pattern is highlighted.
The displayed candle coloring allows users to observe the reversal detection method, with colored candles indicating potential reversals.
Users wanting to detect longer-term reversals can use a higher "Trend Length" setting, this can however lead to an increased amount of displayed candlestick patterns.
To prevent false positives users also have control over a "Threshold" setting in a range between (0, 100), with values closer to 100 preventing candlesticks from being detected at the start of trends.
The "Warmup Length" serves a similar purpose, and aims to prevent sudden moves to be classified as reversals. Higher values of this setting will require trends to be established for a longer period of time for reversal conditions to be detected.
🔹 Dashboard
To evaluate the role of individual candlestick patterns as potential reversal signals relative to the proposed reversal detection method, a dashboard displaying the percentage of candlestick patterns displayed (that occur when a potential reversal is detected) over the total amount detected.
Hovering on the dashboard cells of the "Reversal %" column allows displaying the total amount of patterns detected.
🔶 CANDLESTICKS PATTERNS
This tool detects 16 popular candlestick patterns, each listed in the sub-sections below.
🔹 Bullish Patterns
Hammer - A bullish reversal pattern that forms after a decline, characterized by a small body at the upper end of the trading range and a long lower shadow.
Inverted Hammer - A bullish reversal pattern that forms after a downtrend, featuring a small body at the lower end of the trading range and a long upper shadow.
Bullish Engulfing - A bullish reversal pattern where a small bearish candlestick is followed by a larger bullish candlestick that completely engulfs the previous candle.
Rising 3 - A bullish continuation pattern that consists of a long bullish candlestick followed by three smaller bearish candlesticks and then another long bullish candlestick.
3 White Soldiers - A bullish reversal pattern consisting of three consecutive long bullish candlesticks, each opening within the previous candle's body and closing higher.
Morning Star - A bullish reversal pattern made up of three candlesticks: a long bearish candlestick, followed by a short candlestick, and then a long bullish candlestick.
Bullish Harami - A bullish reversal pattern where a small bullish candlestick is completely within a previous larger bearish candlestick.
Tweezer Bottom - A bullish reversal pattern identified by an initial bullish candle, followed by a bearish candle, both having equal lows.
🔹 Bearish Patterns
Hanging Man - A bearish reversal pattern that forms after an uptrend, characterized by a small body at the upper end of the trading range and a long lower shadow.
Shooting Star - A bearish reversal pattern that forms after an uptrend, featuring a small body at the lower end of the trading range and a long upper shadow.
Bearish Engulfing - A bearish reversal pattern where a small bullish candlestick is followed by a larger bearish candlestick that completely engulfs the previous candle.
Falling 3 - A bearish continuation pattern that consists of a long bearish candlestick followed by three smaller bullish candlesticks and then another long bearish candlestick.
3 Black Crows - A bearish reversal pattern consisting of three consecutive long bearish candlesticks, each opening within the previous candle's body and closing lower.
Evening Star - A bearish reversal pattern made up of three candlesticks: a long bullish candlestick, followed by a short candlestick, and then a long bearish candlestick.
Bearish Harami - A bearish reversal pattern where a small bearish candlestick is completely within a previous larger bullish candlestick.
Tweezer Top - A bearish reversal pattern is identified by an initial bullish candle, followed by a bearish candle, both having equal highs."
🔶 SETTINGS
🔹 Patterns
Group including toggles for each of the supported candlestick patterns. Enabled toggles will allow detection of the associated candlestick pattern.
🔹 Reversal Detection
Trend Length: Determines the sensitivity of the reversal detection method to shorter-term variation, with higher values returning a detection method more sensitive to longer-term trends.
Threshold: Determines how easy it is for the reversal detection method to consider a trend at an extreme point.
Warmup Length: Warmup period in the reversal detection method, longer values will require a longer-term trend to detect potential reversals.
🔹 Style
Color Candles: Enable candle coloring on the user chart based on the reversal detection method.
Use Gradient: Use a gradient as candle coloring.
Label Size: Size of the labels displaying the detected candlesticks patterns.
🔹 Dashboard
Show Dashboard: Display the dashboard on the user chart when enabled.
Location: Dashboard location on the user chart.
Size: Size of the displayed dashboard.
Flags With Measured Move [QuantVue]Flags with Measured Moves is a technical analysis tool that identifies bull flags and provides a measured move target.
A bull flag is a continuation pattern that occurs within the context of a general uptrend. It represents a pause or small consolidation before the price resumes its upward movement.
A bull flag consists of two sections: the flagpole and the flag.
The flagpole is the initial upward movement that occurs before the flag forms.
The flag forms as the price consolidates after the initial uptrend. During this phase, the price tends to drift downward or sideways, ideally with declining volume.
Once the flag has put in a low, the initial range of thrust is added to the flag low to form the measured move target.
Every element of the flag is customizable by the trader, including the size and length of the prior uptrend and the minimum and maximum flag depth and length.
The indicator also includes alerts for when new flags are formed, when a breakout from the flag occurs, and when the measured move target is reached.
By default, the indicator settings are set for use on a daily timeframe. If using the indicator on an intraday timeframe, you will need to adjust the settings.
Give this indicator a BOOST and COMMENT your thoughts!
We hope you enjoy.
Cheers!
HH LL HL LH MarkerHH LL HL LH Marker
The "HH LL HL LH Marker" is a versatile technical analysis tool designed to help traders identify and visualize key pivot points in price action. It highlights four types of pivot points: Higher High (HH), Lower Low (LL), Higher Low (HL), and Lower High (LH), aiding in spotting potential trend reversals or continuations.
Features:
Customizable Inputs: Adjust the number of bars to look back on for pivot calculation, and choose which pivot types to display.
ZigZag Line: Optionally display a ZigZag line connecting the identified pivot points for a clearer visualization of price swings.
Visual Marker: Each pivot point type is marked with a distinct label, making it easy to identify on the chart.
How to Use:
Higher High (HH): Indicates when the current high is higher than the previous two highs, suggesting potential upward momentum.
Lower Low (LL): Signals when the current low is lower than the previous two lows, indicating potential downward momentum.
Higher Low (HL): Marks a higher low compared to the two previous lows, potentially signaling a bullish trend reversal.
Lower High (LH): Identifies a lower high compared to the two previous highs, potentially indicating a bearish trend reversal.
Usage Tips:
Combine with other technical indicators or chart patterns for comprehensive analysis.
Adjust input parameters according to the timeframe and asset being traded for optimal performance.
Note: This indicator is for educational purposes only and should be used alongside other tools and analysis techniques for making informed trading decisions.
Multi-Timeframe Trend Following with 200 EMA Filter - Longs OnlyOverview
This strategy is designed to trade long positions based on multiple timeframe Exponential Moving Averages (EMAs) and a 200 EMA filter. The strategy ensures that trades are only entered in strong uptrends and aims to capitalize on sustained upward movements while minimizing risk with a defined stop-loss and take-profit mechanism.
Key Components
Initial Capital and Position Sizing
Initial Capital: $1000.
Lot Size: 1 unit per trade.
Inputs
Fast EMA Length (fast_length): The period for the fast EMA.
Slow EMA Length (slow_length): The period for the slow EMA.
200 EMA Length (filter_length_200): Set to 200 periods for the primary trend filter.
Stop Loss Percentage (stop_loss_perc): Set to 1% of the entry price.
Take Profit Percentage (take_profit_perc): Set to 3% of the entry price.
Timeframes and EMAs
EMAs are calculated for the following timeframes using the request.security function:
5-minute: Short-term trend detection.
15-minute: Intermediate-term trend detection.
30-minute: Long-term trend detection.
The strategy also calculates a 200-period EMA on the 5-minute timeframe to serve as a primary trend filter.
Trend Calculation
The strategy determines the trend for each timeframe by comparing the fast and slow EMAs:
If the fast EMA is above the slow EMA, the trend is considered positive (1).
If the fast EMA is below the slow EMA, the trend is considered negative (-1).
Combined Trend Signal
The combined trend signal is derived by summing the individual trends from the 5-minute, 15-minute, and 30-minute timeframes.
A combined trend value of 3 indicates a strong uptrend across all timeframes.
Any combined trend value less than 3 indicates a weakening or negative trend.
Entry and Exit Conditions
Entry Condition:
A long position is entered if:
The combined trend signal is 3 (indicating a strong uptrend across all timeframes).
The current close price is above the 200 EMA on the 5-minute timeframe.
Exit Condition:
The long position is exited if:
The combined trend signal is less than 3 (indicating a weakening trend).
The current close price falls below the 200 EMA on the 5-minute timeframe.
Stop Loss and Take Profit
Stop Loss: Set at 1% below the entry price.
Take Profit: Set at 3% above the entry price.
These levels are automatically set when entering a trade using the strategy.entry function with stop and limit parameters.
Plotting
The strategy plots the fast and slow EMAs for the 5-minute timeframe and the 200 EMA for visual reference on the chart:
Fast EMA (5-min): Plotted in blue.
Slow EMA (5-min): Plotted in red.
200 EMA (5-min): Plotted in green.
Indecisive CandlesAn Indecisive Candle, often referred to as a Base Candle, is a pivotal element in technical analysis, particularly for identifying institutional supply and demand zones. These candles are characterized by their small bodies and long wicks, reflecting a balance between buyers and sellers, indicating a potential pause or consolidation in the market.
To calculate whether a candle qualifies as an indecisive candle based on the criterion that its body (the absolute difference between its open and close prices) is less than or equal to 50% of the total range of the candle (the difference between its high and low prices).
Key Features:
Small Real Body: Signifies minimal movement from open to close, indicating market indecision.
Long Upper and Lower Wicks: Show that both bulls and bears attempted to control the price, but neither succeeded, leading to a standoff.
Formation Context: Typically found at the end of a strong trend or within a consolidation phase, hinting at a potential reversal or continuation pattern.
Usage in Identifying Institutional Supply and Demand:
Supply Zones: When an Indecisive Candle forms after a rally, it can mark the onset of an institutional supply zone, suggesting that large entities are starting to sell, leading to potential downward pressure.
Demand Zones: Conversely, when this candle appears after a downtrend, it often signals the emergence of a demand zone, where institutions begin to accumulate, anticipating a price increase.
Trading Strategies:
Zone Identification: Use Indecisive Candles to pinpoint key supply and demand zones on your chart, enhancing the accuracy of your support and resistance levels.
Confirmation: Look for confirmation from subsequent price action or volume spikes to validate the presence of institutional activity before making trading decisions.
Risk Management: Place stop-loss orders beyond the wicks of these candles to protect against false breakouts or continued indecision.
Conclusion:
Indecisive Candles are essential tools for traders looking to understand market sentiment and institutional behavior. By mastering their identification and interpretation, you can enhance your ability to spot high-probability trading opportunities and manage risks effectively.
Doji Modern IndicatorDoji Patterns will be found based on 3 conditions -
Check if Open-close difference is a certain percentage of High-low difference
Check Upper & Lower wick sizes are greater than respective min threshold values
Check if the difference of Upper & Lower wick size is higher than the min threshold value
The threshold values are predetermined based on the timeframe selected for the chart
Candle Price MovementThis Pine Script indicator calculates and visualizes the price movement for each candlestick on the chart.
- **Calculation**: The price movement for each candle is determined by subtracting the opening price from the closing price.
- **Visualization**: The price movement is plotted as a histogram, with positive values indicating upward movement (green bars) and negative values indicating downward movement (red bars).
- **Options**:
- The histogram bars are colored blue with zero opacity, providing a clear visual distinction from the background.
- A horizontal line at zero (the "Zero Line") is added for reference, helping to identify periods of no price movement.
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This indicator provides traders with a quick visualization of the price movement for each candlestick, helping to identify trends and potential trading opportunities.
FBT - Money Flow StructureThis indicator was created for Far Beyond Trading members to assist in the drawing and creation of Ranges, Breakouts and Fakeouts. You can change the "Length" which will take into consideration how many candles it takes to create a range. The lower the amount the less candles required to create a valid range, and not just become a 'pause'. You can change the timeframe this indicator works on to show ONLY higher timeframes. This will break if you select lower timeframes. Change the colors as you wish, and enjoy!
- A range is just a hold or sideways price action in between a set high and low.
- A breakout is considered to be a push out of the hold. (arrows)
Untested Levels Dynamic Timeframes**WORKS BEST ON 30M TIMEFRAME**
This indicator, titled "Untested Levels with Timeframes" is designed to identify and visualize price levels within different timeframes that have not been tested recently. Here's a breakdown of its benefits and usage:
Identifying Untested Price Levels: The indicator helps traders identify support and resistance levels that haven't been tested for a specified period within different timeframes. This can be valuable because untested levels may represent potential areas where price could reverse or encounter significant movement.
Customizable Timeframes: The indicator allows users to specify different timeframes (e.g., 30 minutes, 1 hour, 4 hours, daily) for analyzing untested levels. This flexibility enables traders to adapt the tool to their trading style and preferences.
Visual Representation: Untested levels are plotted on the chart as rays extending to the right. This visual representation makes it easy for traders to identify and assess these levels at a glance, enhancing their chart analysis process.
Dynamic Management: The indicator dynamically manages untested and tested levels over time, ensuring that traders focus on the most relevant price levels within each timeframe. This feature helps prevent clutter on the chart and maintains the indicator's effectiveness.
Potential Trading Opportunities: By identifying untested levels, traders may uncover potential trading opportunities, such as entering trades near untested support or resistance levels or waiting for confirmation of a breakout or reversal at these levels.
Risk Management: Understanding untested levels can also assist in risk management by providing traders with additional context when setting stop-loss levels or determining the risk-reward ratio for a trade.
Overall, this indicator can be a valuable tool for traders seeking to enhance their technical analysis and identify potential trading opportunities based on untested price levels across different timeframes. However, like any trading tool, it's essential to combine it with other analysis techniques and thoroughly backtest it to assess its effectiveness within your trading strategy.
Single Prints - BrightSingle Prints - Bright is a Pine Script indicator designed to identify and visualize significant price levels based on the concept of "single prints." Single prints are price levels where trading activity occurred but with little or no follow-up trading. This indicator plots these levels as lines on the chart, allowing traders to easily identify areas of potential support and resistance.
Features:
Customizable Line Distance: Adjust the distance between single print lines to suit your trading style and time frame.
Maximum Array Size: Set the maximum number of single print lines to be displayed on the chart.
Remove Gaps: Option to remove lines if the price gaps over them.
Multiple Time Frames: Choose to display single prints for daily, weekly, monthly, or yearly sessions.
Color Gradient: Lines are color-coded from red (oldest) to green (newest), providing a visual indication of their relative age.
Thicker, Lime-Colored Lines: Improved visibility with thicker lines and a more lime-like color scheme for easier identification on the chart.
How to Use:
Adding the Indicator:
Open TradingView and navigate to the chart where you want to apply the indicator.
Click on "Indicators" in the top menu.
Select "Pine Editor" and paste the provided Pine Script code into the editor.
Click "Add to Chart" to apply the indicator to your chart.
Configuring the Indicator:
Distance Between Lines (i_line_distance): Set the distance between single print lines. Adjust this value based on the volatility and time frame of the asset you are trading.
Maximum Array Size (i_max_array): Define the maximum number of single print lines to be displayed on the chart. This helps in managing the clutter on the chart.
Remove Gaps (i_remove_gaps): Enable or disable the option to remove lines if the price gaps over them.
Show Daily Single Prints (ShowDailySP): Enable or disable the display of daily single print lines.
Show Daily Extended Single Prints (ShowDailyExtendSP): Enable or disable the display of extended daily single print lines.
Show Weekly Single Prints (ShowWeeklySP): Enable or disable the display of weekly single print lines.
Show Monthly Single Prints (ShowMonthlySP): Enable or disable the display of monthly single print lines.
Show Yearly Single Prints (ShowYearlySP): Enable or disable the display of yearly single print lines.
Interpreting the Lines:
Color Gradient: The lines are color-coded to indicate their relative age. Red lines are the oldest, transitioning through orange and yellow to green, which are the newest. This color gradient helps in identifying how long a particular level has been significant.
Support and Resistance: Use the lines as potential support and resistance levels. Multiple lines close together indicate stronger levels of support or resistance.
Volatility Analysis: The number of lines within a gap can provide insights into market volatility. More lines indicate higher volatility and multiple potential reversal points within that range.
Trading Strategies:
Entry Points: Consider using the single print lines as entry points. For example, if the price approaches a support level with multiple lines, it may be a good buying opportunity.
Stop Loss and Take Profit: Use the single print lines to set stop-loss and take-profit levels. Placing stop-loss orders below multiple support lines can provide additional protection.
Trend Analysis: Analyze the overall trend and momentum in conjunction with the single print lines to make informed trading decisions. If the price is in an uptrend and approaching resistance lines, watch for potential breakouts or reversals.
Previous and Premarket High/Low IndicatorDescription:
The "Previous and Premarket High/Low" indicator is designed to help traders identify key levels during the premarket, postmarket, and regular trading sessions. It highlights the highest and lowest prices during the premarket session and the previous trading day, providing critical levels for intraday trading strategies.
Features:
Customizable Display Settings: Users can adjust the colors, line styles, and line widths for the premarket and previous day high/low levels.
Session Labels: Clear labels indicating premarket and postmarket sessions for easy identification.
Alerts: Set alerts for significant price movements, such as new highs or lows during premarket and previous trading sessions.
Seasonality Widget [LuxAlgo]The Seasonality Widget tool allows users to easily visualize seasonal trends from various data sources.
Users can select different levels of granularity as well as different statistics to express seasonal trends.
🔶 USAGE
Seasonality allows us to observe general trends occurring at regular intervals. These intervals can be user-selected from the granularity setting and determine how the data is grouped, these include:
Hour
Day Of Week
Day Of Month
Month
Day Of Year
The above seasonal chart shows the BTCUSD seasonal price change for every hour of the day, that is the average price change taken for every specific hour. This allows us to obtain an estimate of the expected price move at specific hours of the day.
Users can select when data should start being collected using the "From Date" setting, any data before the selected date will not be included in the calculation of the Seasonality Widget.
🔹 Data To Analyze
The Seasonality Widget can return the seasonality for the following data:
Price Change
Closing price minus the previous closing price.
Price Change (%)
Closing price minus the previous closing price, divided by the
previous closing price, then multiplied by 100.
Price Change (Sign)
Sign of the price change (-1 for negative change, 1 for positive change), normalized in a range (0, 100). Values above 50 suggest more positive changes on average.
Range
High price minus low price.
Price - SMA
Price minus its simple moving average. Users can select the SMA period.
Volume
Amount of contracts traded. Allow users to see which periods are generally the most /least liquid.
Volume - SMA
Volume minus its simple moving average. Users can select the SMA period.
🔹 Filter
In addition to the "From Date" threshold users can exclude data from specific periods of time, potentially removing outliers in the final results.
The period type can be specified in the "Filter Granularity" setting. The exact time to exclude can then be specified in the "Numerical Filter Input" setting, multiple values are supported and should be comma separated.
For example, if we want to exclude the entire 2008 period we can simply select "Year" as filter granularity, then input 2008 in the "Numerical Filter Input" setting.
Do note that "Sunday" uses the value 1 as a day of the week.
🔶 DETAILS
🔹 Supported Statistics
Users can apply different statistics to the grouped data to process. These include:
Mean
Median
Max
Min
Max-Min Average
Using the median allows for obtaining a measure more robust to outliers and potentially more representative of the actual central tendency of the data.
Max and Min do not express a general tendency but allow obtaining information on the highest/lowest value of the analyzed data for specific periods.
🔶 SETTINGS
Granularity: Periods used to group data.
From Data: Starting point where data starts being collected
🔹 Data
Analyze: Specific data to be processed by the seasonality widget.
SMA Length: Period of the simple moving average used for "Price - SMA" and "Volume - SMA" options in "Analyze".
Statistic: Statistic applied to the grouped data.
🔹 Filter
Filter Granularity: Period type to exclude in the processed data.
Numerical Filter Input: Determines which of the selected hour/day of week/day of month/month/year to exclude depending on the selected Filter Granularity. Only numerical inputs can be provided. Multiple values are supported and must be comma-separated.
Wyckoff Method IndicatorThe Wyckoff Method Market Cycle Indicator is a powerful tool designed to help traders identify the current market phase based on the principles of the Wyckoff Method. This indicator analyzes price action and volume patterns to determine whether the market is in an accumulation, markup, distribution, or markdown phase.
The Wyckoff Method, developed by Richard D. Wyckoff, is a time-tested approach to understanding market dynamics and identifying potential trading opportunities. By studying the interaction between price and volume, the Wyckoff Method aims to provide insight into the actions of market participants and the potential direction of the market.
This indicator automatically detects the key market phases as defined by the Wyckoff Method:
Accumulation: This phase occurs when large institutional investors are quietly accumulating positions, often leading to a period of consolidation with low volatility and decreasing volume.
Markup: Following the accumulation phase, the markup phase is characterized by a breakout above the accumulation range, accompanied by increasing volume. This indicates a potential bullish trend.
Distribution: After a significant price advance, the distribution phase emerges. It is marked by high volatility and increasing volume as large investors begin to distribute their holdings to the public.
Markdown: The markdown phase follows the distribution phase and is characterized by a breakdown below the distribution range, accompanied by increasing volume. This suggests a potential bearish trend.
The indicator plots the detected market phases on the chart using the following signals:
Green triangle pointing upwards: Accumulation phase
Blue triangle pointing downwards: Markup phase
Red triangle pointing downwards: Distribution phase
Orange triangle pointing upwards: Markdown phase
By utilizing this indicator, traders can gain valuable insights into the underlying market structure and make more informed trading decisions. However, it is important to note that the Wyckoff Method Market Cycle Indicator should be used in conjunction with other technical analysis tools and risk management strategies.
The indicator provides two input parameters:
Lookback Period: The number of bars used to calculate the volatility and determine the market phases. The default value is 50.
Volume Condition Multiple: The multiple used to compare the current volume with the volume of the lookback period. The default value is 2.
Traders can adjust these parameters to suit their specific trading style and the characteristics of the asset being analyzed.
Please note that this indicator is intended for educational and informational purposes only. It does not constitute financial advice. Always conduct your own analysis and exercise proper risk management when trading.
Happy trading!
Linear Regression Trendlines & ChannelsThis new script came to me one night all of a sudden and it seems to be common knowledge for how good it works.
The script utilizes linear regression to determine trendlines and channels, identifying instances where closing prices closely align with the regression line. When a significant number of closing prices fall within proximity to the regression line, trendlines are displayed or generated.
Users have the flexibility to customize the proximity criteria by adjusting the margin and percentage thresholds. These parameters allow for precise control over how closely the closing prices should adhere to the regression line, as well as the minimum percentage of closing prices required to fit within the specified margin.
Moreover, the script is adaptable to logarithmic scales, ensuring compatibility with various chart configurations. Additionally, it stores all relevant data in an array for convenient access in future scripts or analyses.
Session TimesDescription:
This indicator simply when enabled will draw dashed lines at each of the session openings. This is based on UTC+1 Time. There will be lines at 00:00 & 08:00 (Asian Session), lines at 08:00 & 13:00 (London Session) and finally lines at 13:00 & 00:00 (New York Session).
Potential Use:
There are many ways you could use this indicator to benefit your trading, but the best way I find is that it makes it clear where the previous highs and lows are of a session, which are potential areas you could trade off. Obviously, there are many other ways you can use this to help you.
How The Script Works:
The way the script works isn't too complicated as it is only a short script. Simply it firstly calculates what are the weekdays (Whenever it isn't Saturday or Sunday). Then from there simply finds the times which I mentioned above, and adds a vertical dashed line there.
Future Updates:
In the future I will mainly be looking to make the indicator more customisable. Firstly, I will look to make it so that the user can adjust the times that the lines are drawn at so it still works wherever you are in the world. I would also like to make it so the user can choose the colour of the lines. If you have any other additions you would like added to this, then feel free to message me.
CME Gap Detector [CryptoSea]The CME Gap Indicator , is a tool designed to identify and visualize potential price gaps in the cryptocurrency market, particularly focusing on gaps that occur during the weekend trading sessions. By highlighting these gaps, traders can gain insights into potential market movements and anticipate price behavior.
Key Features
Gap Identification: The indicator identifies gaps in price between the Friday close and the subsequent opening price on Monday. It plots these gaps on the chart, allowing traders to easily visualize and analyze their significance.
Weekend Price Comparison: It compares the closing price on Friday with the opening price on Monday to determine whether a gap exists and its magnitude.
Customizable Visualization: Traders have the option to customize the visualization of the gaps, including the color scheme for better clarity and visibility on the chart.
Neutral Candle Color Option: Users can choose to display neutral candle colors, enhancing the readability of the chart and reducing visual clutter.
How it Works
Data Fetching and Calculation: The indicator fetches the daily close price and calculates whether a gap exists between the Friday close and the subsequent Monday opening price.
Plotting: It plots the current price and the previous Friday's close on the chart, making it easy for traders to compare and analyze.
Gradient Fill: The indicator incorporates a gradient fill feature to visually represent the magnitude of the gap, providing additional insights into market sentiment.
Weekend Line Logic: It includes logic to identify Sunday bars and mark them on the chart, aiding traders in distinguishing weekend trading sessions.
Application
Gap Trading Strategy: Traders can use the identified gaps as potential entry or exit points in their trading strategies, considering the tendency of price to fill gaps over time.
Market Sentiment Analysis: Analyzing the presence and size of weekend gaps can provide valuable insights into market sentiment and participant behavior.
Risk Management: Understanding the existence and significance of gaps can help traders manage their risk exposure and make informed decisions.
The CME Gap indicator offers traders a valuable tool for analyzing weekend price gaps in the cryptocurrency market, empowering them to make informed trading decisions and capitalize on market opportunities.
Enhanced Volume Profile [TFO]The Enhanced Volume Profile analyzes volume by price to find potential inflection points that we can reference in future price action.
The volume profiles altogether are simply an estimation from price/volume data that TradingView is capable of providing. Below is an example of 1 day volume profiles. The left chart uses 50 rows for each profile, while the right chart uses 500 rows. As a result, the right chart is capable of providing much greater detail.
Profile Timeframe specifies the timeframe of the profile to be constructed. When set to 1 day for example, then each profile represents the price/volume data from 1 daily bar.
Resolution Timeframe is the timeframe of price/volume data used to construct the profile. Lower timeframes result in higher resolution, but also greater computation time.
Below is an example of 1 day volume profiles. Both charts are using 250 rows for every profile, but the left chart is using a 15m resolution timeframe, while the right chart is using a 1m resolution timeframe. The lower timeframe data on the right chart allows for greater detail than the left.
Volume Point of Control (VPOC) shows the price level where the most volume was traded during a given session. Show VPOCs will draw these levels on each volume profile, with the corresponding color. In the following chart, each solid blue line represents a VPOC for the corresponding session.
Extend Recent VPOCs will track the N most recent VPOC levels, and extend them to the right side of the chart for easy visual reference. Show VPOC Labels will annotate each VPOC extension with the date (and time, for lower timeframes) that each corresponding profile began. Below is an example where Extend Recent VPOCs and Show VPOC Labels are both enabled.
Show Previous HVN will show High Volume Nodes from previous sessions, and extend them until price trades through them. When a session ends, any new HVNs located above that close price will be red while any HVNs below will be green (default colors).
HVNs are validated with a strength parameter that compares the peak volume to its neighboring levels to determine local extremes, along with a percentile filter to optionally specify if valid nodes must contain a peak volume greater than X% of the volume traded at VPOC.
The same capabilities exist for Low Volume Nodes as well. Show Previous LVN will extend these Low Volume Nodes from previous sessions until price trades through them.
The default color scheme will color nodes proportionate to the individual session. For example, a HVN derived from VPOC would always result in the deepest possible color because the node's peak contains the highest volume traded for that session. Every lesser node would be colored lighter than this, proportional to that session's VPOC.
We can also choose to color these nodes in a way that reflects their relative volume compared to recent sessions. For HVNs, darker colors imply more volume was traded at said nodes while lighter colors imply less volume. In the following example, the left chart uses the session based color scheme while the right chart uses the historical color scheme.
Diverging Chart Patterns - Ultimate [Trendoscope®]🎲 Presenting the Diverging Chart Patterns Ultimate Indicator
Much like its counterpart, the Converging Chart Patterns Ultimate indicator, this tool is an offshoot of our premium Auto Chart Patterns - Ultimate offering. However, it is exclusively designed to focus on diverging patterns.
🎲 Built on Extensive Research and Open-Source Foundations
Our journey toward creating this indicator has been guided by thorough research and insights gleaned from our previous works on Chart Patterns, which include:
Algorithmic Identification of Chart Patterns
Flag and Pennant Chart Patterns
Trading Diverging Chart Patterns
Drawing from the groundwork established by our publicly available indicators - Auto Chart Patterns and Flags and Pennants - this tool represents the culmination of our efforts to furnish traders with a refined approach to navigating diverging patterns. It not only facilitates the formulation of technical trading strategies but also aids in assessing their efficacy through historical performance analysis. The specific patterns addressed by this indicator encompass:
Rising Wedge (Diverging Type)
Falling Wedge (Diverging Type)
Diverging Triangle
Rising Triangle (Diverging Type)
Falling Triangle (Diverging Type)
🎲 Chart Pattern Scanning Methodology
Identifying diverging chart patterns follows a structured approach comprising several key steps:
Zigzag Examination : Start by analyzing each zigzag, focusing on the last 5 or 6 pivot points to pinpoint potential trend line pairs.
Divergence Verification : Project these trend lines backward and scrutinize for intersections within a specified number of bars prior. This step confirms the presence of divergence.
Pattern Categorization : Once divergence is confirmed, categorize each pattern based on the directional orientation of its trend lines. Refer to our article - Algorithmic Identification of Chart Patterns for detailed categorization guidelines.
🎲 Methodology or Trading for Chart Patterns
While traditional perspectives often prescribe specific trading biases to diverging patterns—for instance, labeling Rising Wedges as bearish and Falling Wedges as bullish, while acknowledging Triangles' versatility—there's limited empirical evidence to fully support these assumptions. Our indicator is crafted to empower users to explore and validate a wide range of trading hypotheses, including unconventional ones. This approach liberates trading strategies from being confined to historical market behaviors.
We offer extensive customization options to facilitate testing of diverse strategies. The initial setup accommodates both long and short trading scenarios for each identified pattern. Users retain the freedom to adjust trading directions and other parameters within the indicator's settings to align with their analytical preferences.
This open approach is grounded in the methodology detailed in - Trading Diverging Chart Patterns . It is exemplified by the following process, which users can customize and enhance using our indicator.
🎲 Insight into Indicator Components
The chart below provides an illustration of the components comprising our indicator:
Pattern Visualization : This functionality dynamically showcases patterns on the chart, emphasizing presently active ones. Historical patterns are omitted to uphold clarity and optimize performance, considering limitations in drawing object capacity.
Trading Annotations : The indicator conveniently denotes open trades directly on the chart, accommodating both long and short positions based on user preferences and the ongoing status of associated trades for each pattern.
Performance Metrics Table : A comprehensive table meticulously presents backtesting outcomes for individual patterns alongside aggregated results. It encompasses vital metrics such as win rates and the profit factor, calculated in alignment with the designated risk-reward ratio. These insights provide users with valuable assessments of potential profitability and trade strategy effectiveness.
🎲 Delving into the Indicator's Customization Features
Our indicator boasts a wealth of settings, empowering users to customize criteria and refine their trading strategies. Each setting comes with detailed tooltips, offering valuable insights into its functionality. Let's explore each category methodically.
🎯 Zigzag Configuration Options
These settings provide users with the flexibility to fine-tune their pattern analysis by adjusting the length and depth of the zigzag:
Length Adjustment : Altering this parameter modifies the scale of detected patterns. Higher values highlight larger formations, while lower ones focus on more compact patterns.
Depth Enhancement : This parameter adjusts the complexity of the recursive zigzag analysis, potentially revealing larger patterns across multiple levels. Users should exercise caution, as excessive depth may strain the indicator's processing capacity.
🎯 Pattern Scanning Settings
This collection of settings refines the pattern scanning process, typically adjusted to achieve precise geometric alignment of detected patterns. While many settings can be left at their default values for regular use, users are encouraged to customize them, particularly the "Last Pivot Direction," to explore different theoretical approaches to pattern trading.
🎯 Trade Configuration Settings
Arguably the most vital for users, these settings provide full control in shaping trading strategies based on diverging chart patterns. This encompasses the freedom to establish entry, stop, and target prices, fine-tune risk-reward ratios, choose historical depth for backtesting, and integrate filters to guide trade direction.
🎯 Pattern Specific Settings
Here, users have the flexibility to customize settings for individual patterns or groups, thereby refining the precision of their strategies. Alongside the option to enable/disable specific patterns and pattern groups, users can also choose pattern-specific settings such as Last Pivot Direction, Trade Direction Filter, and external filters.
🎯 Fully Customizable Alerts
Utilizing the alert() function, these notifications circumvent the usual template within the alert widget. To address this, we've integrated placeholders in the settings for creating comprehensive alert templates.
Available Categories Include
New - Alerts when a new pattern is identified
Entry - Alerts when an entry condition for a configured pattern based trade is met.
Stop - Alerts when a trade that has reached entry gets stopped out without reaching target
Target - Alerts when a trade reaches its target
Invalidation - Alerts when a trade reaches an invalidation point before reaching the entry.
Each alert type can possess its unique template. Tailorable templates are crucial for effectively utilizing alerts within broker or exchange integration.
Here are some of the placeholders that are defined in the indicator.
{type} - Alert type - new/entry/stop/target/invalid
{pid} - Pattern ID of the pattern belonging to trade. Multiple trades can have same pattern id since a pattern can be traded in both long and short directions.
{tid} - Unique Trade ID for the given trade.
{ticker} - Ticker ID on which the indicator is run
{timeframe} - Chart timeframe on which the indicator is run
{basecurrency} - Base currency of the symbol
{quotecurrency} - Quote currency of the symbol
{pivots} - Pivot values of the pattern
{price} - Current price when the alert is triggered.
{pattern} - Name of the pattern on which the alert is triggered.
{direction} - Direction of the trade.
{entrydirection} - Direction of the entry signal. Used for specific bot integration.
{exitdirection} - Direction of the exit signal. Used for specific bot integration.
{entry} - Entry price of the trade
{stop} - Stop price of the trade
{target} - Target price of the trade
{invalidation} - Invalidation price of the trade
🎯 Display and Stats
These settings regulate the display options on the chart. Closed trade statistics are showcased in a table and appear in the bottom-left corner of the chart. These can be tailored using the display settings.
Consolidation & Head and Shoulders ScannerHello Traders!
The Consolidation & Head and Shoulders Scanner utilizes a unique swing-based pattern recognition to pinpoint consolidation and (inverse) head and shoulders patterns in real-time with unparalleled precision.
The rectangle pattern, also known as a trading range or a consolidation pattern, is characterized by horizontal lines that act as support and resistance levels, creating a rectangular shape.
The head and shoulders chart pattern is a technical analysis pattern used to identify potential trend reversals in financial markets. It consists of three swing highs (peaks), with the middle peak being the highest and the two outside swing highs being slightly lower. The middle peak is referred to as the "head" and the two outside peaks are referred to as the "shoulders."
The pattern typically forms after an uptrend and is in most cases a bearish signal. The neckline is a support level that connects the lows of the two shoulders. Once the price breaks below the neckline, the pattern is confirmed, and a new down trend starts. Conversely, an "inverse head and shoulders" pattern forms after a downtrend and is a bullish signal.
The Consolidation & Head and Shoulders Scanner is designed to operate in a fully automated manner, detecting consolidation patterns, head and shoulders patterns and inverse head and shoulders patterns across the symbol and timeframe that you select. It grants you the ability to simultaneously scan for patterns across as many as 20 distinct symbols.
Feature List
Real-time consolidation and (inverse) head and shoulders pattern detection
Breakout alerts
Customizable pattern size and accuracy
Customizable look and feel
The value of this indicator is to support traders to easily identify consolidations and (inverse) head and shoulders patterns in an automated way and across many different markets at the same time. The special swing-based pattern recognition makes this indicator unique. The trader saves a lot of time scanning the markets for consolidation and head and shoulders patterns, since finding the pattern and alerting for a breakout is done automatically for the trader.
For a visualization of the detected patterns, you can add the TRN Consolidation and Range Pattern and the TRN Head and Shoulders Pattern indicators to your chart.
How does Consolidation & Head and Shoulders Scanner work?
On the right side of the chart, you can find a table displaying the symbols monitored by our scanner for pattern and breakout detection (first column). The table provides information on the status of each symbol.
ACTIVE – Pattern building up
UP – Upside Breakout
DN – Downside Breakout
UP CONF – Upside Breakout confirmed
DN CONF – Downside Breakout confirmed
FAILED – Pattern failed to get confirmed
This visual representation allows you to quickly identify the evolving pattern dynamics across different symbols, helping you stay informed and make timely trading decisions.
In the second and fifth column, the status of consolidation patterns with two different consolidation sizes gets displayed. In the third and fourth column, the status of detected long and short head and shoulders patterns is displayed. The same goes for column seven and eight but with a different head and shoulders size which is customizable in the settings.
The scanner operates specifically on the timeframe you have selected in TradingView, ensuring that the detected patterns and breakouts align precisely with your trading perspective. F If the scanner displays a pattern or a breakout, you just can switch to this instrument and start trading it if you like what you see.
Follow these instructions to discover how you can utilize the scanner for seamless and simplified chart pattern detection like never before:
Add Symbols
Go to indicator settings and scroll down to the "Symbols" section. The enabled symbols can be recognized by the check marks. Click on one of them and use the search function to add the symbol of your choice to the scanner. You can search for up to 20 different Symbols at the same time.
Use Alerts (optional but recommended)
You can also use the built-in alerts to easily get notified when a pattern occurs. In the indicator settings in the "Alerts" section you can choose whether you want to get notified when a pattern is
in the making (Pattern active),
confirms an up breakout (B/O Up Confirmed)
confirms a down breakout (B/O Down Confirmed)
(Unconfirmed) in case a pattern breakout occurs, even if the pattern is not yet confirmed
This allows you to stay informed about potential breakout opportunities that are still awaiting confirmation.
Customization and Settings
The indicator can scan for smaller and larger patterns at the same time. Adjust the consolidation and head and shoulders sizes in the indicator settings to align them with your preferences. A larger size results in larger patterns. Depending on the asset class, the market or the market phase, different sizes can be used for pattern detection.
To detect more patterns, increase the tolerance level, even though it may result in lower accuracy. However, be mindful that a higher tolerance level may result in more patterns hitting their stop-loss.
Risk Disclaimer
The content, tools, scripts, articles, and educational resources offered by TRN Trading are intended solely for informational and educational purposes. Remember, past performance does not ensure future outcomes.
Consecutive count backtester / quantifytools- Overview
Consecutive counting is a simple method to mechanically define trending states to the upside and downside. Consecutive counts are calculated by taking reference price level (e.g. close 4 candles ago) and count closes above/below it up to a maximum count that resets the consecutive count back to 1. This tool provides the means to backtest each count by measuring % change in price after each count (e.g. % gain 2 candles after a given count).
Users can define reference source that starts the consecutive count (e.g. close 4 candles ago), maximum count where counter resets (e.g. after 9th count) and backtesting period (e.g. price change 2 candles after count).
Filters add extra conditions that must be met on the consecutive count to qualify as valid, which are also reflected on the backtest metrics. The counts can be refined using the following filters:
- RSI above/below X
- Price above/below/at moving average of choice
- Relative volume above/below X
Average gain corresponding to each count as they occur can be toggled off for less clutter. Average price change can also be visualized using candle color. Colors, gradient and table/label sizes are fully customizable.
- Practical guide
Example #1: Identify reversal potential
Consecutive counting is a simple yet effective method to for detecting reversals, for which 7-9 counts are traditionally used. Whether that holds true or not can now be put through a test with different variations of the method as well as using additional filters to improve the probability of a turn.
Example #2: Identify trend following potential
Consecutive counts can also have utility value for trend following. When historical short term change is to the downside, expect downside, when to the upside, expect upside.
Enhanced Forex IndicatorDescription of the "Enhanced Forex Indicator"
The "Enhanced Forex Indicator" is designed for traders who want a comprehensive technical analysis tool on the TradingView platform. This script integrates Exponential Moving Averages (EMAs), support and resistance zones, and candlestick pattern recognition to provide actionable trading signals, particularly useful for Forex and other financial markets. The script is suitable for intraday trading and swing trading.
Components of the Indicator
Exponential Moving Averages (EMAs):
Short EMA (Blue Line): Faster responding average, good for identifying recent trend changes.
Long EMA (Red Line): Slower moving average, helps in confirming longer-term trends.
Support and Resistance Zones:
Resistance Zone (Red): Area where potential selling pressure could overcome buying pressure, halting price increases temporarily or reversing them.
Support Zone (Green): Area where potential buying pressure could overcome selling pressure, supporting prices and preventing them from falling further.
Candlestick Patterns:
Bullish Engulfing Pattern (Green Triangle Up 'BE'): Suggests a potential upward reversal or start of a bullish trend.
Bearish Engulfing Pattern (Red Triangle Down 'BE'): Indicates a potential downward reversal or start of a bearish trend.
Buy/Sell Signals:
Buy Signal (Green Label 'BUY'): Triggered when the price is above both EMAs and a bullish engulfing pattern is detected.
Sell Signal (Red Label 'SELL'): Triggered when the price is below both EMAs and a bearish engulfing pattern is detected.
Trading Setup:
Entry: Consider entering a buy position when the 'BUY' signal appears, indicating bullish conditions. Enter a sell position when the 'SELL' signal appears, indicating bearish conditions.
Exit: Look for closing signals opposite your entry or use predefined take profit and stop loss levels. For instance, exit a buy position on a 'SELL' signal or when the price drops below the support zone.
Risk Management:
Set stop losses just below the support zone for buy orders and above the resistance zone for sell orders to protect against significant losses.
Adjust position sizes according to your risk tolerance and account balance.
Considerations:
Use this indicator in conjunction with other analysis tools and fundamental data to confirm signals and strengthen your trading strategy.
Periodically backtest the strategy based on this indicator to ensure its effectiveness in current market conditions.
Optimization:
Adjust the lengths of the EMAs and the buffer size of the support and resistance zones to better fit the asset's volatility and your trading timeframe.
