Rosiz Support 2### **Indicator Name**: Custom RSI, Stochastic, and ADX
### **Description**:
This is a multi-functional indicator that combines three popular technical analysis tools—**RSI (Relative Strength Index)**, **Stochastic Oscillator**, and **ADX (Average Directional Index)**—into a single, customizable pane. This indicator helps traders analyze momentum, overbought/oversold conditions, and trend strength simultaneously, making it a powerful tool for making informed trading decisions.
---
### **Features**:
1. **RSI (Relative Strength Index)**:
- Measures the speed and change of price movements.
- Helps identify overbought (>70) and oversold (<30) conditions.
- Includes customizable length and source options.
- Background shading visually highlights overbought and oversold zones.
2. **Stochastic Oscillator**:
- Determines momentum by comparing a security's closing price to its price range over a specific period.
- Includes %K and %D lines for crossovers, which signal potential entry or exit points.
- Highlights overbought (>80) and oversold (<20) zones with background fill.
3. **ADX (Average Directional Index)**:
- Measures trend strength (higher values indicate stronger trends).
- Includes customizable smoothing and DI (Directional Indicator) length.
---
### **How to Use**:
- **RSI**: Look for overbought or oversold conditions for potential reversal points. Divergences between price and RSI may signal weakening trends.
- **Stochastic Oscillator**: Watch for %K and %D crossovers near overbought or oversold zones to confirm buy or sell signals.
- **ADX**: Use ADX values to assess trend strength:
- **ADX > 25**: Strong trend.
- **ADX < 20**: Weak or ranging market.
---
### **Customization Options**:
- **RSI Settings**: Adjust length, source, and visual parameters.
- **Stochastic Settings**: Modify %K and %D lengths and smoothing factors.
- **ADX Settings**: Fine-tune smoothing and directional index lengths.
---
### **Advantages**:
- Combines three indicators into one, reducing chart clutter.
- Customizable inputs for flexibility in various trading strategies.
- Visual enhancements (background fills and lines) for better readability.
This indicator is perfect for traders looking to combine momentum analysis, overbought/oversold signals, and trend strength in a single tool!
Chart patterns
CandelaCharts - ICT Daily Profiles📝 Overview
The ICT Daily Profiles by CandelaCharts rooted in the ICT teachings represent a pattern-based approach to trading that focuses on identifying and analyzing the key highs and lows of various intraday trading sessions.
The toolkit automatically detects and marks these ICT Daily Profiles on the chart, enabling traders to quickly pinpoint critical zones for analysis and decision-making.
Whether you are a seasoned professional or a developing trader, ICT Daily Profiles provides actionable frameworks to enhance your understanding of price dynamics and improve your intraday trading performance.
📦 Features
The ICT Daily Profiles toolkit offers a comprehensive set of features designed to enhance trading precision and decision-making. Key features include:
Daily Profiles
Advanced Styling
Scanner
The indicator supports the following profiles:
Session I High Session II Low Bearish
Session I High Session III Low Bearish
Session I High Session IV Low Bearish
Session II High Session III Low Bearish
Session II High Session IV Low Bearish
Session III High Session IV Low Bearish
Session I Low Session II High Bullish
Session I Low Session III High Bullish
Session I Low Session IV High Bullish
Session II Low Session III High Bullish
Session II Low Session IV High Bullish
Session III Low Session IV High Bullish
Session I High Session I Low Bearish
Session I Low Session I High Bearish
Session II High Session II Low Bearish
Session II Low Session II High Bearish
Session III High Session III Low Bearish
Session III Low Session III High Bearish
Session IV High Session IV Low Bearish
Session IV Low Session IV High Bearish
⚙️ Settings
Sessions: Controls how many sessions you want to see.
History: Controls how many profiles are displayed on the chart.
Timeframe Limit: Sets the timeframe up to which profiles will be drawn.
Show OHLC Lines: Display the lines for OHLC.
Show Profile Line: Display the Daily Profile line.
Use NY Midnight Open: Controls from where a profile will start detection.
Open: Style for Open line.
High: Style for High line.
Low: Style for Low line.
Midline: Style for Profile Midline.
Label: Controls the position of the Daily Profile name.
Scanner: Display the Scanner
⚡️ Showcase
ICT (Inner Circle Trader) daily profile templates are analytical frameworks that categorize and describe typical patterns of price action observed during a trading day.
ICT Daily Profiles
Scanner
📒 Usage
The ICT Daily Profiles indicator aims to give traders a clear and actionable view of the Daily Previous, Current, and Future Profiles. This enables them to analyze market structure, predict price movements, and align their trading strategies with higher time-frame trends.
Load the indicator on the chart
Enable Scanner
See the Predicted Profiles list
Predicted Profiles represent all potential scenarios for the current day, generated by a profile detection algorithm.
By visualizing potential outcomes through Predicted Profiles, the ICT Daily Profiles indicator provides traders with a strategic edge, allowing them to remain flexible, prepared, and aligned with the most probable market movements.
🚨 Alerts
The indicator does not provide any alerts!
🔹 Notes
ICT Daily Profiles
pbs.twimg.com
⚠️ Disclaimer
These tools are exclusively available on the TradingView platform.
Our charting tools are intended solely for informational and educational purposes and should not be regarded as financial, investment, or trading advice. They are not designed to predict market movements or offer specific recommendations. Users should be aware that past performance is not indicative of future results and should not rely on these tools for financial decisions. By using these charting tools, the purchaser agrees that the seller and creator hold no responsibility for any decisions made based on information provided by the tools. The purchaser assumes full responsibility and liability for any actions taken and their consequences, including potential financial losses or investment outcomes that may result from the use of these products.
By purchasing, the customer acknowledges and accepts that neither the seller nor the creator is liable for any undesired outcomes stemming from the development, sale, or use of these products. Additionally, the purchaser agrees to indemnify the seller from any liability. If invited through the Friends and Family Program, the purchaser understands that any provided discount code applies only to the initial purchase of Candela's subscription. The purchaser is responsible for canceling or requesting cancellation of their subscription if they choose not to continue at the full retail price. In the event the purchaser no longer wishes to use the products, they must unsubscribe from the membership service, if applicable.
We do not offer reimbursements, refunds, or chargebacks. Once these Terms are accepted at the time of purchase, no reimbursements, refunds, or chargebacks will be issued under any circumstances.
By continuing to use these charting tools, the user confirms their understanding and acceptance of these Terms as outlined in this disclaimer.
CandelaCharts - ICT Weekly Profiles📝 Overview
The indicator provides a pattern-based approach to the ICT Weekly Profiles, emphasizing a line that marks the Open, High, Low, and Close of the week. This line allows you to instantly visualize and identify the Weekly Profile.
The profile detection relies on the week’s high and low, delivering a clear and concise representation of the weekly profile.
ICT Weekly Profiles are structured conceptual frameworks designed to outline typical patterns of price behavior over the course of a trading week. These profiles serve as analytical tools, offering traders insights into recurring market tendencies and helping them identify potential opportunities and risks.
The ICT Weekly Profiles indicator offers two distinct types of profiles to provide a clearer understanding of weekly price action:
ICT Weekly Profiles
ICT Missing Weekly Profiles
The toolkit automatically detects and marks these ICT Weekly Profiles and ICT Missing Weekly Profiles on the chart, enabling traders to quickly pinpoint critical zones for analysis and decision-making.
📦 Features
The ICT Weekly Profiles toolkit offers a comprehensive set of features designed to enhance trading precision and decision-making. Key features include:
Weekly Profiles
Missing Weekly Profiles
Advanced Styling
Scanner
The indicator supports the following profiles:
ICT Weekly Profiles
Classic Tuesday Low Of The Week Bullish
Classic Tuesday High Of The Week Bearish
Wednesday Low Of The Week Bullish
Wednesday High Of The Week Bearish
Consolidation Thursday Reversal Bullish
Consolidation Thursday Reversal Bearish
Consolidation Midweek Rally Bullish
Consolidation Midweek Rally Bearish
Wednesday Weekly Reversal Bullish
Wednesday Weekly Reversal Bearish
Seek And Destroy Bullish Friday
Seek And Destroy Bearish Friday
ICT Missing Weekly Profiles
Monday Low Tuesday High Bullish
Monday High Tuesday Low Bearish
Monday Low Wednesday High Bullish
Monday High Wednesday Low Bearish
Monday Low Thursday High Bullish
Monday High Thursday Low Bearish
Tuesday Low Wednesday High Bullish
Tuesday High Wednesday Low Bearish
Tuesday Low Friday High Bullish
Tuesday High Friday Low Bearish
Wednesday Low Thursday High Bullish
Wednesday High Thursday Low Bearish
Monday Low Friday High Bullish
Monday Friday Bearish Rally
Monday High/Low Range
Tuesday High/Low Range
Wednesday High/Low Range
Thursday High/Low Range
Friday High/Low Range
⚙️ Settings
History: Controls how many profiles are displayed on the chart.
Timeframe Limit: Sets the timeframe up to which profiles will be drawn.
Show OHLC Lines: Display the lines for OHLC.
Show Profile Line: Display the Weekly Profile line.
Use NY Midnight Open: Controls from where a profile will start detection.
Open: Style for Open line.
High: Style for High line.
Low: Style for Low line.
Midline: Style for Profile Midline.
Label: Controls the position of the Weekly Profile name.
Scanner: Display the Scanner
⚡️ Showcase
ICT (Inner Circle Trader) weekly profile templates are analytical frameworks that categorize and describe typical patterns of price action observed during a trading week.
ICT Weekly Profiles
ICT Missing Weekly Profiles
Scanner
📒 Usage
The primary objective of the ICT Weekly Profiles indicator is to provide traders with a comprehensive and actionable overview of the Weekly Previous, Current, and Future Profile. This allows traders to interpret market structure, anticipate price behavior, and align their trading decisions with higher time-frame trends.
Load the indicator on the chart
Enable Scanner
See the Predicted Profiles list
Predicted Profiles represent all potential scenarios for the current week, generated by a profile detection algorithm.
By visualizing potential outcomes through Predicted Profiles, the ICT Weekly Profiles indicator provides traders with a strategic edge, allowing them to remain flexible, prepared, and aligned with the most probable market movements.
🚨 Alerts
The indicator does not provide any alerts!
🔹 Notes
ICT Weekly Profiles
pbs.twimg.com
ICT Missing Weekly Profiles
pbs.twimg.com
⚠️ Disclaimer
These tools are exclusively available on the TradingView platform.
Our charting tools are intended solely for informational and educational purposes and should not be regarded as financial, investment, or trading advice. They are not designed to predict market movements or offer specific recommendations. Users should be aware that past performance is not indicative of future results and should not rely on these tools for financial decisions. By using these charting tools, the purchaser agrees that the seller and creator hold no responsibility for any decisions made based on information provided by the tools. The purchaser assumes full responsibility and liability for any actions taken and their consequences, including potential financial losses or investment outcomes that may result from the use of these products.
By purchasing, the customer acknowledges and accepts that neither the seller nor the creator is liable for any undesired outcomes stemming from the development, sale, or use of these products. Additionally, the purchaser agrees to indemnify the seller from any liability. If invited through the Friends and Family Program, the purchaser understands that any provided discount code applies only to the initial purchase of Candela's subscription. The purchaser is responsible for canceling or requesting cancellation of their subscription if they choose not to continue at the full retail price. In the event the purchaser no longer wishes to use the products, they must unsubscribe from the membership service, if applicable.
We do not offer reimbursements, refunds, or chargebacks. Once these Terms are accepted at the time of purchase, no reimbursements, refunds, or chargebacks will be issued under any circumstances.
By continuing to use these charting tools, the user confirms their understanding and acceptance of these Terms as outlined in this disclaimer.
Doji Double Top & Double Bottom
FUNCTION :
This indicator checks if 2 consecutive candlesticks are formed in such a way that both the lows or both the highs of the consecutive candlesticks are almost at the same level and either of them is a doji
TIMEFRAMES :
it works on daily, weekly, monthly and higher timeframes
CRITERIA :
There is maximum difference value between 2 consecutive candlesticks' lows or 2 consecutive candlesticks' highs
Minimum value of the doji's wick size
Maximum value of the doji's body size
These 3 conditions need to be fulfilled for the 2 consecutive candlesticks to be considered as a Double top or Double bottom by this indicator
EXAMPLES :
Here the indicator is giving only double Bottom signals on CRUDE OIL chart
Here the indicator is giving only double top signals on GOLD chart
Here the indicator gives both double top & double bottom signals on EUR/USD Daily chart
Here the indicator is giving both double top & double bottom signals on EUR/USD Half-Yearly chart
DEFINITIONS :
There are 2 types -
DOJI DOUBLE BOTTOM - if the lows of 2 consecutive candlesticks are almost at the same level & either of them is doji then it is called Double Bottom and market is supposed to go higher after forming it.
DOJI DOUBLE TOP - if the highs of 2 consecutive candlesticks are almost at the same level & either of them is doji then it is called Double Top and market is supposed to go lower after forming it.
SETTINGS :
There are options to change the value of each of the 3 parameters within the indicator's settings for daily, weekly & monthly chart [
LIMITATIONS :
You should not trade based on the signals from this indicator solely, you should check other parameters too before making trading decision
US30 Q4_trade _levels_Jan2025updated description and use
US30 Trade Levels.plus 50% take profit levels
this indicator is based on the US30 quarterly theory level strategy
the difference here is that the zones have been zoom'd out for the H2 view for oversight and M30 as application theory to the Q4 levels.
The Q4 levels are spaced and calculated 385 pips apart, and also span within the daily ADR range for US30.
so these are zones that has proven to be valid going back as far as Nov2022
these are pass through levels, to together with other confluences like order blocks and or breaker blocks, will give you a guideline as to expect a valid zone of interest.
USE this indicator in conjunction with an SMC point of view to identify OB & CHOCH
[GrandAlgo] Automatic Parallel ChannelThe Automatic Parallel Channel indicator is designed to automate the process of drawing parallel channels on the chart. By analyzing price swings and slopes, it identifies trend-aligned channels that provide insights into market structure, potential reversals, and continuation patterns. This tool saves traders time and effort by eliminating the need to manually draw channels while ensuring accuracy and consistency.
How It Works
The indicator evaluates price action and detects significant swing highs and swing lows to define the boundaries of the parallel channels.
Channels are categorized as green for potential support zones and red for potential resistance zones, ensuring easy visual identification of price trends.
Customizable parameters such as Strength, Max. Slope Steepness, and Fibonacci Line Levels allow traders to adapt the channel detection to different market conditions.
A third line can optionally be drawn at a Fibonacci level for additional confluence.
Key Features
Automatic Channel Detection:
Identifies and plots parallel channels based on swing highs and swing lows, ensuring accuracy and efficiency.
Customizable Strength Parameter:
Adjust the sensitivity of channel detection to focus on minor, intermediate, or major trends.
Fibonacci Line Integration:
Optionally draw a third line within the channel at a user-defined Fibonacci level, offering additional reference points for trend analysis.
Dual Channel Visualization:
Displays green channels to represent potential support and red channels for potential resistance, simplifying visual analysis.
Slope Control:
Set the Max. Slope Steepness to filter out channels that do not meet your trend steepness criteria.
Real-Time Updates:
Channels are dynamically updated as price action evolves, ensuring relevance to current market conditions.
Use Cases
Identify trend channels to determine the overall market direction.
Spot potential reversal or continuation zones using channel boundaries.
Use the third Fibonacci line as a key level for potential price reactions.
Suitable for trend-following strategies and breakout trading setups.
Adaptable across Forex, crypto, stocks, and other markets.
Disclaimer:
This indicator is a technical analysis tool designed to assist traders by providing insights into market conditions. It does not guarantee future price movements or trading outcomes and should not be relied upon as a sole decision-making tool. The effectiveness of this indicator depends on its application, which requires your trading knowledge, experience, and judgment.
Trading involves significant financial risk, including the potential loss of capital. Past performance of any tool or indicator does not guarantee future results. This script is intended for educational and informational purposes only and does not constitute financial or investment advice. Users are strongly encouraged to perform their own analysis and consult with a qualified financial professional before making trading decisions.
Volume Footprint POC for Every CandleCalculating and plotting the Point of Control (POC) for every candle on a volume footprint chart can provide valuable insights for traders. Here are some interpretations and uses of this information:
1. Identify Key Price Levels
Highest Traded Volume: The POC represents the price level with the highest traded volume for each candle. This level often acts as a significant support or resistance level.
Confluence Zones: When multiple POCs align at similar price levels over several candles, it indicates strong support or resistance zones.
2. Gauge Market Sentiment
Buyer and Seller Activity: High volume at certain price levels can indicate where buyers and sellers are most active. A rising POC suggests stronger buying activity, while a falling POC suggests stronger selling activity.
Volume Profile: Analyzing the volume profile helps in understanding the distribution of traded volume across different price levels, providing insights into market sentiment and potential reversals.
3. Spot Trends and Reversals
Trend Continuation: Consistent upward or downward shifts in POC levels can indicate a trend continuation. Traders can use this information to stay in trending positions.
Reversal Signals: A sudden change in the POC direction may signal a potential reversal. This can be used to take profits or enter new positions.
4. Intraday Trading Strategies
Short-Term Trading: Intraday traders can use the POC to make informed decisions on entry and exit points. For example, buying near the POC during an uptrend or selling near the POC during a downtrend.
Scalping Opportunities: High-frequency traders can use shifts in the POC to scalp small profits from price movements around these key levels.
5. Volume-Based Indicators
Confirmation of Other Indicators: The POC can be used in conjunction with other technical indicators (e.g., moving averages, RSI) to confirm signals and improve trading accuracy.
Support and Resistance: Combining the POC with traditional support and resistance levels can provide a more comprehensive view of the market dynamics.
In summary, the Point of Control (POC) is a valuable tool for traders to understand market behavior, identify key levels, and make more informed trading decisions. If you have specific questions or need further details on how to use this information in your trading strategy, feel free to ask! 😊
BTC-SPX Momentum Gauge + EMA SignalHere's an explanation of the market dynamics and signal benefits of this script:
Momentum and Sentiment Indicator:
The script uses the momentum of the S&P 500 to change the chart's background color, providing a quick visual cue of market sentiment. Green indicates potential bullish momentum in the broader market, while red suggests bearish momentum. This can help traders gauge overall market direction at a glance.
Bitcoin Trend Analysis:
By plotting the scaled TEMA of Bitcoin (BTC), traders can see how Bitcoin's trend correlates or diverges from the current asset being analyzed. Since Bitcoin is often viewed as a hedge against traditional financial systems or inflation, its trend can signal broader economic shifts or investor sentiment towards alternative investments.
Dual Trend Confirmation:
The script offers two trend lines: one for Bitcoin and one for the current ticker. When these lines move in tandem, it might indicate a strong market trend across both traditional and crypto markets. Divergence between these lines can highlight potential market anomalies or opportunities for arbitrage or hedging.
Smoothness vs. Reactivity:
The use of TEMA for Bitcoin provides a smoother signal than a simple moving average, reducing lag while still reacting to price changes. This can be particularly useful for identifying longer-term trends in Bitcoin's volatile market. The 20-period EMA for the current ticker, on the other hand, gives a quicker response to price changes in the asset you're directly trading.
Cross-Asset Correlation:
By overlaying Bitcoin's trend on another asset's chart, traders can analyze how these markets might influence each other. For instance, if Bitcoin is in an uptrend while a traditional asset is declining, it might suggest capital rotation into cryptocurrencies.
Trading Signals:
Crossovers or divergences between the TEMA of Bitcoin and the EMA of the current ticker could be used as signals for entry or exit points. For example, if the BTC TEMA crosses above the current ticker's EMA, it might suggest a shift towards crypto assets.
Risk Management:
The visual cues from the background color and moving averages can aid in risk management. For example, trading in the direction of the momentum indicated by the background color might be seen as going with the market flow, potentially reducing risk.
Macro-Economic Insights:
The relationship between Bitcoin and traditional markets can offer insights into macroeconomic conditions, particularly related to inflation, monetary policy, and investor sentiment towards fiat currencies.
Headwind and tailwind:
Currently BTC correlated trade instruments experience headwind or tailwind from the broader market. This indicator lets the user see it to help their trade decision process.
Additional Statement:
As the market realizes the dangers of the fiat that its construct is built upon and evolves and migrates into stable money, incorruptible by inflation, this indicator will reveal the external influence of that corruptible and the internal influence of the incorruptible; having diminishing returns as the rise of stable money overtakes the treasuries of the fiat construct.
Trendilo ARTrendilo AR is a custom trading indicator designed to identify market trends using advanced techniques such as the Arnaud Legoux Moving Average (ALMA), volume confirmations, and dynamic volatility bands. This indicator provides a clear visualization of trends, including significant changes and custom alerts.
Review of Indicators Used
1. ALMA
Description:
ALMA is a moving average that applies an advanced filter to smooth price data, reducing noise and focusing on actual trends.
Usage in the Indicator:
Used to calculate the smoothed percentage price change and determine trend direction. Customizable parameters include:
- Length: Defines the number of bars to consider.
- Offset: Adjusts sensitivity toward recent prices.
- Sigma: Controls the degree of smoothing.
Advantages:
- Reduced lag in trend detection.
- Resistance to market noise.
2. ATR
Description:
ATR measures the market’s average volatility by considering the range between high and low prices over a given period.
Usage in the Indicator:
ATR is used to calculate "dynamic smoothing", adjusting the indicator’s sensitivity based on current market volatility.
Advantages:
- Adapts to high or low volatility conditions.
- Helps define dynamic support and resistance levels.
3. SMA
Description:
SMA calculates the average of prices or volume over a specific time period.
Usage in the Indicator:
Used to calculate the volume moving average (Volume SMA) to confirm whether the current volume supports the detected trend.
Advantages:
- Easy to understand and calculate.
- Provides volume-based trend confirmation.
4. RMS Bands
Description:
RMS Bands calculate the standard deviation of percentage price changes, creating upper and lower levels that act as overbought and oversold indicators.
Usage in the Indicator:
- Define the range within which the market is considered neutral.
- Crosses above or below the bands indicate trend changes.
Advantages:
- Visual identification of strong trends.
- Helps filter false signals.
Colors and Visuals Used in the Indicator
1. ALMA Line
Colors:
- Green: Indicates a confirmed uptrend (with sufficient volume).
- Red: Indicates a confirmed downtrend (with sufficient volume).
- Gray: Indicates a neutral phase or insufficient volume to confirm a trend.
2. RMS Bands
- Upper and Lower Lines:
- Purple (with transparency): These lines represent the RMS bands (upper and lower) and
adjust opacity based on trend strength.
- Stronger trends result in less transparency (more solid colors).
3. Highlighted Background (Strong Trends)
- Color:
- Light Green (transparent): Highlights a strong trend when the smoothed percentage change (ALMA) exceeds 1.5 times the RMS.
4. Horizontal Lines
- Baseline (0):
- Dark Gray: Serves as a central reference to identify the directionality of percentage changes.
- Additional Line (0.1):
- Blue: A customizable line to mark user-defined key levels.
5. Bar Colors
- Bar Colors:
- Green: When the price is in a confirmed uptrend.
- Red: When the price is in a confirmed downtrend.
- No color: When there is insufficient volume or no clear trend.
How to Use the Indicator
1. Initial Setup
1. Add the Indicator to Your Chart: Copy the code into the Pine Editor on TradingView and apply it to your chart.
2. Customize Parameters: Adjust values based on your trading strategy:
- Smoothing: Controls the level of smoothing for percentage changes.
- Lookback Length: Defines the observation period for calculations.
- Band Multiplier: Adjusts the width of RMS bands.
2. Signal Interpretation
1. Indicator Colors:
- Green: Confirmed uptrend.
- Red: Confirmed downtrend.
- Gray: No clear trend or insufficient volume.
2. RMS Bands:
- If the ALMA line (smoothed percentage change) crosses above the upper RMS band, it signals a potential uptrend.
- If it crosses below the lower RMS band, it signals a potential downtrend.
3. Volume Confirmation:
- The indicator's color activates only if the current volume exceeds the Volume SMA.
3. Alerts and Decisions
1. Trend Change Alerts:
- The indicator automatically triggers alerts when an uptrend or downtrend is detected.
- Configure these alerts to receive real-time notifications.
2. Strong Trend Signals:
- When the magnitude of the percentage change exceeds 1.5 times the RMS, the chart background highlights the strong trend.
4. Trading Strategies
1. Buy:
- Enter long positions when:
- The indicator turns green.
- Volume confirms the trend.
- Consider placing a stop-loss just below the lower RMS band.
2. Sell:
- Enter short positions when:
- The indicator turns red.
- Volume confirms the trend.
- Consider placing a stop-loss just above the upper RMS band.
3. Neutral:
- Avoid trading when the indicator is gray, as no clear trend or insufficient volume is present.
Disclaimer: As this is my first published indicator, please use it with caution. Feedback is highly appreciated to improve its performance.
Happy Trading!
SAI SUBHASH BITRA OD PatternThis indicator identifies potential breakout conditions by analyzing the first candle of the current trading day in relation to the previous day's price action. Specifically, it compares the open of the first candle to the previous day's high and low, aiming to highlight bullish and bearish opening drive patterns.
Falcon Liquidity Grab StrategyHow to Use This Script for Commodities and Indices
Best Timeframes: Start with 15-minute charts but test on higher timeframes like 1 hour for indices.
Risk Settings: Adjust the stop_loss_points and take_profit_multiplier to match the volatility of the chosen instrument.
SCE Price Action SuiteThis is an indicator designed to use past market data to mark key price action levels as well as provide a different kind of insight. There are 8 different features in the script that users can turn on and off. This description will go in depth on all 8 with chart examples.
#1 Absorption Zones
I defined Absorption Zones as follows.
//----------------------------------------------
//---------------Absorption---------------------
//----------------------------------------------
box absorptionBox = na
absorptionBar = ta.highest(bodySize, absorptionLkb)
bsab = ta.barssince(bool(ta.change(absorptionBar)))
if bsab == 0 and upBar and showAbsorption
absorptionBox := box.new(left = bar_index - 1, top = close, right = bar_index + az_strcuture, bottom = open, border_color = color.rgb(0, 80, 75), border_width = boxLineSize, bgcolor = color.rgb(0, 80, 75))
absorptionBox
else if bsab == 0 and downBar and showAbsorption
absorptionBox := box.new(left = bar_index - 1, top = close, right = bar_index + az_strcuture, bottom = open, border_color = color.rgb(105, 15, 15), border_width = boxLineSize, bgcolor = color.rgb(105, 15, 15))
absorptionBox
What this means is that absorption bars are defined as the bars with the largest bodies over a selected lookback period. Those large bodies represent areas where price may react. I was inspired by the concept of a Fair Value Gap for this concept. In that body price may enter to be a point of support or resistance, market participants get “absorbed” in the area so price can continue in whichever direction.
#2 Candle Wick Theory/Strategy
I defined Candle Wick Theory/Strategy as follows.
//----------------------------------------------
//---------------Candle Wick--------------------
//----------------------------------------------
highWick = upBar ? high - close : downBar ? high - open : na
lowWick = upBar ? open - low : downBar ? close - low : na
upWick = upBar ? close + highWick : downBar ? open + highWick : na
downWick = upBar ? open - lowWick : downBar ? close - lowWick : na
downDelivery = upBar and downBar and high > upWick and highWick > lowWick and totalSize > totalSize and barstate.isconfirmed and session.ismarket
upDelivery = downBar and upBar and low < downWick and highWick < lowWick and totalSize > totalSize and barstate.isconfirmed and session.ismarket
line lG = na
line lE = na
line lR = na
bodyMidpoint = math.abs(body) / 2
upWickMidpoint = math.abs(upWickSize) / 2
downWickkMidpoint = math.abs(downWickSize) / 2
if upDelivery and showCdTheory
cpE = chart.point.new(time, bar_index - 1, downWickkMidpoint)
cpE2 = chart.point.new(time, bar_index + bl, downWickkMidpoint)
cpG = chart.point.new(time, bar_index + bl, downWickkMidpoint * (1 + tp))
cpR = chart.point.new(time, bar_index + bl, downWickkMidpoint * (1 - sl))
cpG1 = chart.point.new(time, bar_index - 1, downWickkMidpoint * (1 + tp))
cpR1 = chart.point.new(time, bar_index - 1, downWickkMidpoint * (1 - sl))
lG := line.new(cpG1, cpG, xloc.bar_index, extend.none, color.green, line.style_solid, 1)
lE := line.new(cpE, cpE2, xloc.bar_index, extend.none, color.white, line.style_solid, 1)
lR := line.new(cpR1, cpR, xloc.bar_index, extend.none, color.red, line.style_solid, 1)
lR
else if downDelivery and showCdTheory
cpE = chart.point.new(time, bar_index - 1, upWickMidpoint)
cpE2 = chart.point.new(time, bar_index + bl, upWickMidpoint)
cpG = chart.point.new(time, bar_index + bl, upWickMidpoint * (1 - tp))
cpR = chart.point.new(time, bar_index + bl, upWickMidpoint * (1 + sl))
cpG1 = chart.point.new(time, bar_index - 1, upWickMidpoint * (1 - tp))
cpR1 = chart.point.new(time, bar_index - 1, upWickMidpoint * (1 + sl))
lG := line.new(cpG1, cpG, xloc.bar_index, extend.none, color.green, line.style_solid, 1)
lE := line.new(cpE, cpE2, xloc.bar_index, extend.none, color.white, line.style_solid, 1)
lR := line.new(cpR1, cpR, xloc.bar_index, extend.none, color.red, line.style_solid, 1)
lR
First I get the size of the wicks for the top and bottoms of the candles. This depends on if the bar is red or green. If the bar is green the wick is the high minus the close, if red the high minus the open, and so on. Next, the script defines the upper and lower bounds of the wicks for further comparison. If the candle is green, it's the open price minus the bottom wick. If the candle is red, it's the close price minus the bottom wick, and so on. Next we have the condition for when this strategy is present.
Down delivery:
Occurs when the previous candle is green, the current candle is red, and:
The high of the current candle is above the upper wick of the previous candle.
The size of the current candle's top wick is greater than its bottom wick.
The total size of the previous candle is greater than the total size of the current candle.
The current bar is confirmed (barstate.isconfirmed).
The session is during market hours (session.ismarket).
Up delivery:
Occurs when the previous candle is red, the current candle is green, and:
The low of the current candle is below the lower wick of the previous candle.
The size of the current candle's bottom wick is greater than its top wick.
The total size of the previous candle is greater than the total size of the current candle.
The current bar is confirmed.
The session is during market hours
Then risk is plotted from the percentage that users can input from an ideal entry spot.
#3 Candle Size Theory
I defined Candle Size Theory as follows.
//----------------------------------------------
//---------------Candle displacement------------
//----------------------------------------------
line lECD = na
notableDown = bodySize > bodySize * candle_size_sensitivity and downBar and session.ismarket and barstate.isconfirmed
notableUp = bodySize > bodySize * candle_size_sensitivity and upBar and session.ismarket and barstate.isconfirmed
if notableUp and showCdSizeTheory
cpE = chart.point.new(time, bar_index - 1, close)
cpE2 = chart.point.new(time, bar_index + bl_strcuture, close)
lECD := line.new(cpE, cpE2, xloc.bar_index, extend.none, color.rgb(0, 80, 75), line.style_solid, 3)
lECD
else if notableDown and showCdSizeTheory
cpE = chart.point.new(time, bar_index - 1, close)
cpE2 = chart.point.new(time, bar_index + bl_strcuture, close)
lECD := line.new(cpE, cpE2, xloc.bar_index, extend.none, color.rgb(105, 15, 15), line.style_solid, 3)
lECD
This plots candles that are “notable” or out of the ordinary. Candles that are larger than the last by a value users get to specify. These candles' highs or lows, if they are green or red, act as levels for support or resistance.
#4 Candle Structure Theory
I defined Candle Structure Theory as follows.
//----------------------------------------------
//---------------Structure----------------------
//----------------------------------------------
breakDownStructure = low < low and low < low and high > high and upBar and downBar and upBar and downBar and session.ismarket and barstate.isconfirmed
breakUpStructure = low > low and low > low and high < high and downBar and upBar and downBar and upBar and session.ismarket and barstate.isconfirmed
if breakUpStructure and showStructureTheory
cpE = chart.point.new(time, bar_index - 1, close)
cpE2 = chart.point.new(time, bar_index + bl_strcuture, close)
lE := line.new(cpE, cpE2, xloc.bar_index, extend.none, color.teal, line.style_solid, 3)
lE
else if breakDownStructure and showStructureTheory
cpE = chart.point.new(time, bar_index - 1, open)
cpE2 = chart.point.new(time, bar_index + bl_strcuture, open)
lE := line.new(cpE, cpE2, xloc.bar_index, extend.none, color.red, line.style_solid, 3)
lE
It is a series of candles to create a notable event. 2 lower lows in a row, a lower high, then green bar, red bar, green bar is a structure for a breakdown. 2 higher lows in a row, a higher high, red bar, green bar, red bar for a break up.
#5 Candle Swing Structure Theory
I defined Candle Swing Structure Theory as follows.
//----------------------------------------------
//---------------Swing Structure----------------
//----------------------------------------------
line htb = na
line ltb = na
if totalSize * swing_struct_sense < totalSize and upBar and downBar and high > high and showSwingSturcture and session.ismarket and barstate.isconfirmed
cpS = chart.point.new(time, bar_index - 1, high)
cpE = chart.point.new(time, bar_index + bl_strcuture, high)
htb := line.new(cpS, cpE, xloc.bar_index, color = color.red, style = line.style_dashed)
htb
else if totalSize * swing_struct_sense < totalSize and downBar and upBar and low > low and showSwingSturcture and session.ismarket and barstate.isconfirmed
cpS = chart.point.new(time, bar_index - 1, low)
cpE = chart.point.new(time, bar_index + bl_strcuture, low)
ltb := line.new(cpS, cpE, xloc.bar_index, color = color.teal, style = line.style_dashed)
ltb
A bearish swing structure is defined as the last candle’s total size, times a scalar that the user can input, is less than the current candles. Like a size imbalance. The last bar must be green and this one red. The last high should also be less than this high. For a bullish swing structure the same size imbalance must be present, but we need a red bar then a green bar, and the last low higher than the current low.
#6 Fractal Boxes
I define the Fractal Boxes as follows
//----------------------------------------------
//---------------Fractal Boxes------------------
//----------------------------------------------
box b = na
int indexx = na
if bar_index % (n * 2) == 0 and session.ismarket and showBoxes
b := box.new(left = bar_index, top = topBox, right = bar_index + n, bottom = bottomBox, border_color = color.rgb(105, 15, 15), border_width = boxLineSize, bgcolor = na)
indexx := bar_index + 1
indexx
The idea of this strategy is that the market is fractal. It is considered impossible to be able to tell apart two different time frames from just the chart. So inside the chart there are many many breakouts and breakdowns happening as price bounces around. The boxes are there to give you the view from your timeframe if the market is in a range from a time frame that would be higher than it. Like if we are inside what a larger time frame candle’s range. If we break out or down from this, we might be able to trade it. Users can specify a lookback period and the box is that period’s, as an interval, high and low. I say as an interval because it is plotted every n * 2 bars. So we get a box, price moves, then a new box.
#7 Potential Move Width
I define the Potential Move Width as follows
//----------------------------------------------
//---------------Move width---------------------
//----------------------------------------------
velocity = V(n)
line lC = na
line l = na
line l2 = na
line l3 = na
line l4 = na
line l5 = na
line l6 = na
line l7 = na
line l8 = na
line lGFractal = na
line lRFractal = na
cp2 = chart.point.new(time, bar_index + n, close + velocity)
cp3 = chart.point.new(time, bar_index + n, close - velocity)
cp4 = chart.point.new(time, bar_index + n, close + velocity * 5)
cp5 = chart.point.new(time, bar_index + n, close - velocity * 5)
cp6 = chart.point.new(time, bar_index + n, close + velocity * 10)
cp7 = chart.point.new(time, bar_index + n, close - velocity * 10)
cp8 = chart.point.new(time, bar_index + n, close + velocity * 15)
cp9 = chart.point.new(time, bar_index + n, close - velocity * 15)
cpG = chart.point.new(time, bar_index + n, close + R)
cpR = chart.point.new(time, bar_index + n, close - R)
if ((bar_index + n) * 2 - bar_index) % n == 0 and session.ismarket and barstate.isconfirmed and showPredictionWidtn
cp = chart.point.new(time, bar_index, close)
cpG1 = chart.point.new(time, bar_index, close + R)
cpR1 = chart.point.new(time, bar_index, close - R)
l := line.new(cp, cp2, xloc.bar_index, extend.none, color.aqua, line.style_solid, 1)
l2 := line.new(cp, cp3, xloc.bar_index, extend.none, color.aqua, line.style_solid, 1)
l3 := line.new(cp, cp4, xloc.bar_index, extend.none, color.red, line.style_solid, 1)
l4 := line.new(cp, cp5, xloc.bar_index, extend.none, color.red, line.style_solid, 1)
l5 := line.new(cp, cp6, xloc.bar_index, extend.none, color.teal, line.style_solid, 1)
l6 := line.new(cp, cp7, xloc.bar_index, extend.none, color.teal, line.style_solid, 1)
l7 := line.new(cp, cp8, xloc.bar_index, extend.none, color.blue, line.style_solid, 1)
l8 := line.new(cp, cp9, xloc.bar_index, extend.none, color.blue, line.style_solid, 1)
l8
By using the past n bar’s velocity, or directional speed, every n * 2 bars. I can use it to scale the close value and get an estimate for how wide the next moves might be.
#8 Linear regression
//----------------------------------------------
//---------------Linear Regression--------------
//----------------------------------------------
lr = showLR ? ta.linreg(close, n, 0) : na
plot(lr, 'Linear Regression', color.blue)
I used TradingView’s built in linear regression to not reinvent the wheel. This is present to see past market strength of weakness from a different perspective.
User input
Users can control a lot about this script. For the strategy based plots you can enter what you want the risk to be in percentages. So the default 0.01 is 1%. You can also control how far forward the line goes.
Look back at where it is needed as well as line width for the Fractal Boxes are controllable. Also users can check on and off what they would like to see on the charts.
No indicator is 100% reliable, do not follow this one blindly. I encourage traders to make their own decisions and not trade solely based on technical indicators. I encourage constructive criticism in the comments below. Thank you.
Quarter Shift IdentifierQuarter Shift Identifier
This indicator helps traders and analysts identify significant price movements between quarters. It calculates the percentage change from the close of the previous quarter to the current price and signals when this change exceeds a 4% threshold.
Key Features:
• Automatically detects quarter transitions
• Calculates quarter-to-quarter price changes
• Signals significant shifts when the change exceeds 4%
• Displays blue up arrows for bullish shifts and red down arrows for bearish shifts
How it works:
1. The script tracks the closing price of each quarter
2. When a new quarter begins, it calculates the percentage change from the previous quarter's close
3. If the change exceeds 4%, an arrow is plotted on the chart
This tool can be useful for:
• Identifying potential trend changes at quarter boundaries
• Analyzing seasonal patterns in price movements
• Supplementing other technical analysis tools for a comprehensive market view
Recommended Timeframes are Weekly and Daily.
Disclaimer:
This indicator is for informational and educational purposes only. It is not financial advice and should not be the sole basis for any investment decisions. Always conduct your own research and consider your personal financial situation before trading or investing. Past performance does not guarantee future results.
Bitcoin 1H-15M Breakout StrategyKey Features
1H and 15M Timeframes:
The script uses the 1-hour timeframe for the range and 15-minute timeframe for breakout conditions.
request.security is used to fetch the higher timeframe data.
Risk Management:
Variables entry_price, sl_price, and tp_price are declared explicitly as float with na initialization to handle dynamic assignment.
Stop-loss and take-profit levels are calculated based on the specified Risk-Reward Ratio (RRR) and buffer (in pips).
Trade Logic:
Long trade triggered when the 15-minute candle closes above the 1-hour high.
Short trade triggered when the 15-minute candle closes below the 1-hour low.
Visualization:
The range_high and range_low (previous 1-hour high and low) are plotted on the chart using dashed lines.
Debugging:
Enabling the show_debug input displays labels showing stop-loss and take-profit values for easier troubleshooting.
TTZConcept GOLD XAUUSD Lot CalculatorThe Gold Lot Size Calculator for XAU/USD on TradingView is a powerful and user-friendly tool designed by TTZ Concept to help traders calculate the optimal lot size for their Gold trades based on their account size, risk tolerance, and the price movement of Gold (XAU/USD). Whether you're a beginner or an experienced trader, this tool simplifies position sizing, ensuring that your trades align with your risk management strategy.
Key Features:
Accurate Lot Size Calculation: Calculates the optimal lot size for XAU/USD trades based on your specified account balance and the percentage of risk per trade.
Flexible Risk Management**: Input your desired risk percentage (e.g., 1%, 2%) to ensure that you are not risking more than you're comfortable with on any single trade.
Customizable Inputs: Enter your account balance, risk percentage, stop loss (in pips), and leverage to get an accurate lot size recommendation.
Real-Time Data The tool uses real-time Gold price data to calculate the position size, ensuring that your risk management is always up to date with market conditions.
-Simple Interface: With easy-to-use sliders and input fields, you can quickly adjust your parameters and get the required lot size in seconds.
No Complicated Calculations Automatically factors in the pip value and contract specifications for XAU/USD, eliminating the need for manual calculations.
How It Works:
1. Input your trading account balance: The tool calculates based on your total equity.
2. Set your risk percentage: Choose how much of your account you want to risk on a single trade.
3. Define your stop loss in pips: Specify the distance of your stop loss from the entry point.
4. Get your recommended lot size: Based on your inputs, the tool will calculate the ideal lot size for your trade.
Why Use This Tool?
Precise Risk Management: Take control of your trading risk by ensuring that each trade is positioned according to your risk tolerance.
Save Time: No need for manual calculations — let the calculator handle the complex math and focus on your strategy.
Adapt to Changing Market Conditions: As the price of Gold (XAU/USD) fluctuates, your lot size adapts to ensure consistent risk management across different market conditions.
Perfect for:
- Gold traders (XAU/USD)
- Beginners seeking to understand position sizing and risk management
- Experienced traders looking to streamline their trading process
- Anyone who trades Gold futures, CFDs, or spot Gold in their trading account
Active Ranges Detector
1. Purpose
The script identifies and manages bar ranges, which are defined as bars where the high and low prices are fully contained within the high and low of the previous bar. These ranges are used by traders to identify potential breakouts and price consolidations.
2. Key Features
Active Range Validation
A potential range becomes an active range when the price breaks out of the bar’s high or low. The breakout direction is tracked:
• Upward breakout: When the price closes above the high of the range.
• Downward breakout: When the price closes below the low of the range.
The script creates:
• Lines to represent the high and low of the range.
• A colored background box to indicate the range, with color coded for breakout direction:
• Green: Upward breakout.
• Orange: Downward breakout.
Range Updates
• Exit Detection: The script detects if the price exits the range (moves outside the high or low levels).
• Reintegration and Mitigation:
• If the price re-enters an exited range, it marks the range as “mitigated.”
• The lines for mitigated ranges are updated (color and width are changed).
• The background box is removed for mitigated ranges.
3. User Inputs
The script provides customization options:
• Breakout Colors:
• upBreakoutColor: Background color for upward breakout ranges (default: semi-transparent green).
• downBreakoutColor: Background color for downward breakout ranges (default: semi-transparent orange).
• Mitigated Range Styling:
• mitigatedLineColor: Line color for mitigated ranges (default: red).
• mitigatedLineWidth: Width of the line for mitigated ranges.
• Line and Background Settings:
• activeLineWidth: Width of lines for active ranges.
• lineExtension: Length of line extensions beyond the range’s initial boundaries.
• Range Display Limits:
• maxActiveRanges: Maximum number of active ranges to display on the chart (default: up to 200).
4. Visualization
The script provides clear visual feedback for identified ranges:
• Lines: High and low levels of the range are drawn as lines on the chart.
• Background Boxes: Colored boxes are drawn to represent active ranges, with breakout direction indicated by the box’s color.
• Mitigation Styling: Mitigated ranges have updated line styles and no background.
5. Range Management
The script actively manages ranges:
• Tracks the status of each range (active, exited, reintegrated, mitigated).
• Limits the number of displayed ranges to improve chart readability and comply with TradingView’s object limits.
6. Use Case
This script is ideal for traders who:
• Use inside bars to identify areas of consolidation and breakout opportunities.
• Want to track active and mitigated ranges automatically.
• Need a clear, visual representation of ranges and breakout directions.
7. Limitations
• Inside bars are identified based only on the current and previous bar, so the script might not detect more complex consolidation patterns.
• The maximum number of ranges displayed is limited to the user-defined value (maxActiveRanges), with a hard limit of 200 due to TradingView’s object restrictions.
Daily Weekly Monthly Highs & Lows - Alerts !
1. Purpose
The script helps traders:
• Visualize the high and low levels for the previous daily, weekly, and monthly periods.
• Receive alerts when the current price crosses these levels.
• Identify key support and resistance zones based on historical highs and lows.
2. Key Features
User Inputs
The script offers customization options through input parameters:
• Daily Levels:
• Enable/disable displaying daily levels (Show Daily Levels).
• Customize the color for daily level lines (Daily Line Color).
• Weekly Levels:
• Enable/disable displaying weekly levels (Show Weekly Levels).
• Customize the color for weekly level lines (Weekly Line Color).
• Monthly Levels:
• Enable/disable displaying monthly levels (Show Monthly Levels).
• Customize the color for monthly level lines (Monthly Line Color).
3. Core Functionality
Level Calculations
The script retrieves the previous daily, weekly, and monthly highs and lows using the request.security() function:
• Daily High/Low: Taken from the previous day’s high and low.
• Weekly High/Low: Taken from the previous week’s high and low.
• Monthly High/Low: Taken from the previous month’s high and low.
Price Crossing Detection
For each level (daily, weekly, monthly), the script checks if the current high or low price has crossed:
• The previous high (triggering a “High Reached” alert).
• The previous low (triggering a “Low Reached” alert).
4. Visual Features
The script plots lines to represent the previous highs and lows:
• Daily Levels:
• Dashed lines for the previous daily high and low.
• Configurable color (Daily Line Color).
• Weekly Levels:
• Dashed lines for the previous weekly high and low.
• Configurable color (Weekly Line Color).
• Monthly Levels:
• Dashed lines for the previous monthly high and low.
• Configurable color (Monthly Line Color).
These lines extend forward by one bar for better visibility on the chart.
5. Alert Features
The script provides alerts for when the price crosses these levels:
• Daily Alerts:
• “Daily High Reached” when the current price crosses the previous daily high.
• “Daily Low Reached” when the current price crosses the previous daily low.
• Weekly Alerts:
• “Weekly High Reached” when the current price crosses the previous weekly high.
• “Weekly Low Reached” when the current price crosses the previous weekly low.
• Monthly Alerts:
• “Monthly High Reached” when the current price crosses the previous monthly high.
• “Monthly Low Reached” when the current price crosses the previous monthly low.
6. Practical Use Case
This script is ideal for traders who:
• Use support and resistance levels from daily, weekly, and monthly timeframes as part of their strategy.
• Want to monitor price interactions with these levels in real-time.
• Need automatic alerts for key price movements without continuously monitoring the chart.
7. Limitations
• Max Line Count: TradingView limits the number of lines that can be drawn on the chart to max_lines_count = 500.
• No Historical Levels: The script only tracks the most recent daily, weekly, and monthly levels and does not display historical levels.
Doji Detector- Alerts!
1. Purpose
The script identifies Doji candles, which are candlesticks with very small or negligible bodies and relatively large wicks. These patterns often indicate market indecision and can serve as potential reversal signals.
2. User Inputs
The script includes several customizable parameters to fine-tune the detection of Doji candles:
• wickRatioLimit: Defines the maximum allowable ratio between the sizes of the upper and lower wicks.
• Example: If the upper wick is no more than 1.5 times larger than the lower wick (or vice versa), the candle can be classified as a Doji.
• bodyColor: Specifies the color for the body of detected Doji candles.
• showMarker: Enables or disables the display of a visual marker (a triangle) below detected Doji candles.
• bodyToWickRatio: Sets the maximum ratio between the size of the candle’s body and the total length of its wicks.
• Example: A body-to-wick ratio of 0.5 means the body cannot be larger than 50% of the sum of the upper and lower wicks.
• alertOnDoji: Activates or deactivates alerts when a Doji candle is detected.
3. Detection Mechanism
The script calculates key components of the candlestick:
• Upper Wick: Difference between the high price and the larger of the open or close prices.
• Lower Wick: Difference between the low price and the smaller of the open or close prices.
• Body Size: Absolute difference between the open and close prices.
It then determines whether the candle qualifies as a Doji based on the following conditions:
1. The body size must be less than or equal to the specified fraction of the total wick size (bodyToWickRatio).
2. The ratio of the upper wick to the lower wick must not exceed the defined wickRatioLimit.
If both conditions are met, the candle is classified as a Doji.
4. Visual Features
The script provides visual indicators for detected Doji candles:
• Bar Coloring: The bodies of detected Doji candles are colored with the specified bodyColor (default is red).
• Markers: If enabled (showMarker = true), a green triangle is plotted below each detected Doji candle for easy identification.
5. Alerts
The script sets up alert conditions for detected Doji candles:
• If alertOnDoji is enabled, an alert is triggered whenever a Doji candle is detected.
• The alert message is customizable and displays “Doji Detected!” by default.
6. Use Case
This script is useful for traders who want to:
• Identify moments of market indecision (Doji patterns) automatically.
• Receive alerts to take appropriate trading actions based on these patterns.
• Highlight Doji candles on charts with customized colors and markers.
Quasimodo PatternWhat is a Quasimodo Pattern?
A Quasimodo Pattern is a chart pattern traders look for to predict possible price reversals in the market:
- Bullish Quasimodo: Signals a possible price increase (buying opportunity).
- Bearish Quasimodo: Signals a potential price decrease (selling opportunity).
How the Script Works
1. Bullish Quasimodo:
- Checks if the price pattern shows signs of a potential upward movement:
- The current low price is higher than a previous price point (suggesting fair value gap).
- The previous candle closed higher than it opened (bullish candle).
- The candle before that closed lower than it opened (bearish candle).
2. Bearish Quasimodo:
- Looks for signs of a downward movement:
- The current high price is lower than a previous price point (suggesting fair value gap).
- The previous candle closed lower than it opened (bearish candle).
- The candle before that closed higher than it opened (bullish candle).
Visual Indicators
- Yellow Candles: Indicate a bullish Quasimodo pattern.
- Pink Candles: Indicate a bearish Quasimodo pattern.
Alerts
If a Quasimodo pattern is detected, the script sends an alert:
- The alert says: "A Quasimodo Pattern has appeared!"
Purpose
Traders can use this tool to quickly spot potential trend changes without manually analyzing every chart, saving time and improving decision-making for trades.
Multi Timeframe Market Formation [LuxAlgo]The Multi Timeframe Market Formation tool allows traders to analyze up to 6 different timeframes simultaneously to discover their current formation, S/R levels and their degree of synchronization with the current chart timeframe. Multi timeframe analysis made easy.
🔶 USAGE
By default, the tool displays the chart's timeframe formation plus up to 5 other formations on timeframes higher than the one in the chart.
When the chart formation is synchronized with any enabled timeframe formation, the tool displays labels and a trailing channel, it uses a gradient by default, so the more timeframes are synchronized, the more visible the labels and the trailing channel are.
All timeframes enabled in the settings panel must be higher than the chart timeframe, otherwise the tool will display an error message.
🔹 Formations
A formation is a market structure defined by a lower and an upper boundary (also known as support & resistance).
Each formation has a different symbol and color to identify it at a glance.
It helps traders to know the current market behavior and the tool displays up to 5 of them.
BULLISH (green ▲): higher high and higher low
BEARISH (red ▼): lower high and lower low
CONTRACTION (orange ◀): lower high and higher low
EXPANSION (blue ▶): higher high and lower low
SIDEWAYS (yellow ◀): Any that does not fit with the others
🔹 Multi Timeframe Formations
The tool displays up to 6 different timeframe formations, the chart timeframe plus 5 more configurable from the settings panel.
Each of them has an upper and lower limit, a timeframe, a color and an icon.
If a bound level is shared by more than one formation, the timeframes and symbols are displayed on the same line.
These are significant levels shared by different timeframes and traders need to be aware of them.
🔹 Sync With Chart Timeframe
If the current formation on the chart timeframe is in sync with any of the timeframes enabled in the settings panel, the tool will display this on the chart.
The more timeframes are in sync, the more they are visible, providing a clear visual representation of the common market behavior on multiple timeframes at the same time.
🔶 SETTINGS
Formation size: Size of market formations on the chart timeframe
🔹 Timeframes
TF1 to TF5: Activate/deactivate timeframe, set size of market formation and activate/deactivate high and low levels
🔹 Style
Show Labels: Enable/Disable Timeframe Sync Labels
Transparency Gradient: Enable/Disable Transparency Gradient
Show Trailing Channel | Multiplier: Enable/Disable Trailing Channel and set multiplier
Color for each formation
Enhanced SPX and BTC Overlay with EMASPX-BTC Momentum Gauge and EMA Cross Indicator
Thorough Analysis:
• Combined Overlay (Green/Red Line):
o Function: Plots a wide line over the price chart, representing a composite of SPX and BTC dynamics adjusted by volume data.
o Color Coding:
Green: Indicates bullish conditions when the combined value exceeds its 10-period SMA and Bitcoin volume increases.
Red: Signals bearish conditions when the combined value drops below its 10-period SMA and Bitcoin volume decreases.
o Line Characteristics:
Width: Set at 8 for high visibility.
Transparency: 86% for both colors to overlay without obscuring candlesticks.
Scaling: Uses a factor of 0.02446 to amplify movements, making trend changes more noticeable.
• Continuous Bright Red and Green Lines:
o 20-period EMA of Current Ticker (Red):
Purpose: Acts as a medium-term trend indicator, smoothing price data to reflect the asset's general direction over time.
Color: Bright red for easy identification.
Transparency: 60% to keep it visible but not overpowering.
o 5-period EMA of BTC (Green):
Purpose: Provides insights into short-term Bitcoin momentum, capturing rapid changes in market sentiment.
Color: Bright green to distinguish from the red EMA.
Transparency: 30% for high visibility against price movements.
Detailed Analysis of the EMA Cross:
• Crossing Points:
o Bullish Crossover:
Occurs when the 5-period BTC EMA (green) moves above the 20-period EMA of the current ticker (red).
Suggests that Bitcoin's short-term momentum is gaining strength relative to the asset's medium-term trend, potentially signaling an upcoming uptrend or strengthening of an existing one.
o Bearish Crossover:
When the green line falls below the red, it indicates that Bitcoin's immediate momentum is weakening compared to the asset's medium-term trend, which might precede a downtrend or confirm one.
• Early Trade Signals:
o Entry/Exit Points:
These crossovers can guide traders in making timely decisions to enter or exit trades, especially when corroborated by the combined overlay's color.
o Confirmation:
EMA crossovers can confirm trends indicated by the combined overlay. For example, a bullish crossover with a green combined line could validate a buying opportunity.
o Volatility Insights:
The rapid shifts in Bitcoin's 5-period EMA highlight potential volatility spikes, offering an additional layer of market analysis, particularly useful in volatile markets.
• Strategic Use:
o Multi-Market Insight: The script integrates data from both traditional (SPX) and crypto (BTC) markets, allowing for a more comprehensive analysis of market conditions.
o Decision-Making: Provides traders with visual cues for market sentiment, trend direction, and potential reversals, enhancing strategic trading decisions.
o Trend Confirmation: The combination of EMA crossovers and the overlay's color changes offers a multi-faceted approach to trend confirmation or divergence.
In Summary:
• This script merges elements of traditional stock market analysis with cryptocurrency dynamics, utilizing color changes, line thickness, and EMA crossovers to visually communicate market conditions, offering traders a robust tool for analyzing and acting on market movements.
Dominan BreakPlots an arrow what dominan got break. Dominan is a bar which high is higher than high of the next x bars and low is lower than low of the next x bars. So, next x bars are completely in range of that dominan bar.
Prior Day High and Low RaysPrior Day High and Low Rays
This custom TradingView indicator projects rays from the prior day's high and low prices, helping you visualize key levels of support and resistance from the previous trading day. The rays extend to the right, continuing from the prior day's high and low throughout the current trading day.
Features:
Displays a ray starting at the prior day's high price.
Displays a ray starting at the prior day's low price.
Rays extend to the right and are only plotted for the immediate prior day.
Customizable ray color and width through the indicator settings.
Use Case:
Track important price levels from the previous day that can act as support or resistance.
Customize the appearance of the rays to match your chart's style and preferences.
This tool is designed for traders who want to incorporate prior day price action into their analysis and maintain a clean, customized chart display.
