Session Open PriceThis Indicator displays the ICT kill zones' open price
You will be able to see the following open prices (ALL TIMES ARE IN NEW YORK TIME)
All times and appearances are customisable to your own liking.
The default time setting is recommended
- 00:00 AM Midnight New York Open Price (RED DASH LINE)
- 2:00 AM Frankfurt Open Price (GREEN DASH LINE)
- 3:00 AM London Open Price (BLUE DASH LINE)
- 8:30 AM New York Open Price (ORANGE DASH LINE)
HOW TO USE SESSION OPEN PRICE IN YOUR TRADING
If the price is above the opening price you only look for sells whereas if the price is under the opening price you only look for buys
BUY EXAMPLE
Wait for Midnight New York and Frankfurt open price to display
The price must be under both prices
Look for a Market maker buy model or your own entry model
Stoploss will be at the swing low and Take profit can be a fixed RR or how you calculate your take profit level
Multitimeframe
Market Dynamics Pro [ChartPrime]ChartPrime Market Dynamics Pro is designed to cater to those traders who are more interested in market structures, price action and fundermentals. Analysing volume, key levels in the market, market phases and multi-timeframe can help a trader build a clearer and more actionable view of the market. ChartPrime performs analysis on data in a unique way therefore attempting to give insights into the market otherwise unseen.
Major Features:
Order blocks: The ChartPrime order blocks provide sleek and clear levels in the market where the price might find support and resistance. It is important to note this data isn't availible currently therefore these are derived from data outside of order books. Order blocks are segmented into 4 sections reflecting the volume at a given levels. Low, Medium, High and very high based on relevant and dynamic averages. This allows a trader to identify how significant a level is in the market in a simpler method. Bearish order blocks have a red color bias and bullish order blocks have a green color bias allowing a trader to identify what type of order block it is. The order blocks also dynamically show the remaining volume at that given level.
Pattern Detection: ChartPrime leverages unique pattern identification methods providing earlier and cleaner chart formations. Patterns are commonly used in trading to assess whether bulls or bears are performing optimally in a market or losing strength. ChartPrime identifies; Ascending wedges, descending wedges, symmetrical Triangles, H&S, iH&S, broadening wedges and double tops/bottoms. Patterns often have associated theory behind them for entries and targets that we suggest a trader covers before using this feature. ChartPrime also allow for the user to adjust where a pattern is drawn from. In pattern theory there are 2 main approaches to drawing a formation; from candle body and candle wick. ChartPrime allows for this to be adjusted by a user and also allow for alerts to be set on these patterns.
MTF SR: Taking into account multi timeframes when trading is a key idea. Having ideas of the larger market moves can provide deeper context when trading. ChartPrime Market Dynamics Pro allows for 3 varying SR plots from 3 varying user desired timeframes. These are graded via pivot analysis and grid analysis. This rank is on a 1-10 scale with 1 being the highest rank and 10 is the lowest.
Market Stucutures : These labels are commonly found and used by the Smart Money community. They denote a break of stucture and a chance of character. BOS are labelled when the price breaks a lower low or higher high (in the trending markets) and a CoC occurs when price breaks a trending market pivot. These break a market into clearer breakouts of price action and can help a trader deduce relevant moves. The indicator allows for the user to adjust the detection length of these structures.
Premium and Discount Zones: Premium and Discount zones are underpinned by a simple piece of logic. A premium zone is taken from a higher swing point and the discount from a lower swing point. Although a very generic approach this can show areas in the market that could see a reaction. An asset being in a discount zone implies the price is undervalued. An asset being in a premium zone implies the asset is overpriced or overextended. These are excellent when used in confluence with other SR methods. These naturally will have a delay as they are derived from swing points in a market but still are extremely relevant levels.
Fair Value Gaps: These are gaps in the market where price has seen a highly volatile move and they are assumed to act as magnets in the market. The price may come back and visit these 'gaps' after the move has occured. These are a common technique now used by traders and added to this toolkit for convinience.
Settings:
Order Blocks: Select the scale of the order blocks displayed
BoS/CoC: Toggle these on/off and adjust the lookback on these market structures
Premium/Discount Zones: Toggle on/off and adjust lookback
Enable FVG: Toggle on/off FVGs
Swing Levels: Enable basic swing levels in market
MTF Support/Resistance: Enable and select the relevant timeframe to obtain MTF SR levels on your chart. Up to 3 timeframes at a time.
Predictive Ranges: Toggle on/off
Trend Lines Detection: Toggle on/off trendlines
Wedge Detection: Adjust how patterns are detected; whether from wick or candle body
Toggles provided for relevant patterns.
Example usecases:
ChartPrime order blocks give a deeper insight into market support and resistance levels. Looking for order blocks labelled with High can indicate this level being a significant support or resistance in the market. Adding in further confluences here can assist further in deciding where the price may see a reaction. Take the screenshot below:
Adding in confluences from other timeframes can also help give a broader view. Using the multi time frame graded frame support and resistance levels we can use these to further assist us in finding significant levels in the market.
ChartPrime also provides breaker blocks. These are still significant levels in the market despite being "broken" prior. These too can be used in a classical manor and act as relevant areas in the market. These are particularly effective when used in confluence with Premium and discount zones. We can see in the example below price sees a strong reaction and bounces at these levels.
Market Dynamics Pro provides a comprehensive toolkit of unique features and mixes in the classical concepts allowing for a cleaner charting experience.
All content and indicators provided by ChartPrime are purely for informational & educational purposes only. Past performance does not guarantee future results.
4H RangeThis script visualizes certain key values based on a 4-hour timeframe of the selected market on the chart. These values include the High, Mid, and Low price levels during each 4-hour period.
These levels can be helpful to identify inside range price action, chop, and consolidation. They can sometimes act as pivots and can be a great reference for potential entries and exits if price continues to hold the same range.
Here's a step-by-step overview of what this indicator does:
1. Inputs: At the beginning of the script, users are allowed to customize some inputs:
Choose the color of lines and labels.
Decide whether to show labels on the chart.
Choose the size of labels ("tiny", "small", "normal", or "large").
Choose whether to display price values in labels.
Set the number of bars to offset the labels to the right.
Set a threshold for the number of ticks that triggers a new calculation of high, mid, and low values.
* Tick settings may need to be increased on equity charts as one tick is usually equal to one cent.
For example, if you want to clear the range when there is a close one point/one dollar above or below the range high/low then on ES
that would be 4 ticks but one whole point on AAPL would be 100 ticks. 100 ticks on an equity chart may or may not be ideal due to
different % change of 100 ticks might be too excessive depending on the price per share.
So be aware that user preferred thresholds can vary greatly depending on which chart you're using.
2. Retrieving Price Data: The script retrieves the high, low, and closing price for every 4-hour period for the current market.
The script also calculates the mid-price of each 4-hour period (the average of the high and low prices).
3. Line Drawing: At the start of the script (first run), it draws three lines (high, mid, and low) at the levels corresponding to the high,
mid, and low prices. Users can also change transparency settings on historical lines to view them. Default setting for historical lines
is for them to be hidden.
4. Updating Lines and Labels: For each subsequent 4-hour period, the script checks whether the close price of the period has gone
beyond a certain threshold (set by user input) above the previous high or below the previous low. If it has, the script deletes the
previous lines and labels, draws new lines at the new high, mid, and low levels, and creates new labels (if the user has opted to
show labels).
5. Displaying Values in the Data Window: In addition to the visual representation on the chart, the script also plots the high, mid, and
low prices. These plotted values appear in the Data Window of TradingView, allowing users to see the exact price levels even when
they're not directly labeled on the chart.
6. Updating Lines and Labels Position: At the end of each period, the script moves the lines and labels (if they're shown) to the right,
keeping them aligned with the current period.
Please note: This script operates based on a 4-hour timeframe, regardless of the timeframe selected on the chart. If a shorter timeframe is selected on the chart, the lines and labels will appear to extend across multiple bars because they represent 4-hour price levels. If a longer timeframe is selected, the lines and labels may not accurately represent high, mid, and low levels within that longer timeframe.
Demand & Supply Zone Scoring: Rally Base & Drop ConceptDemand & Supply Zone Scoring Indicator
The Demand & Supply Zone Scoring indicator is designed to calculate the Trade Strength Score based on the concepts of demand and supply zones, specifically RBR (Rally Base Rally), RBD (Rally Base Drop), DBD (Drop Base Drop), and DBR (Drop Base Rally).
The Demand & Supply Zone Scoring indicator is specifically designed to facilitate a top-down approach with multiple timeframe analysis. It considers the higher timeframe (HTF) for curve analysis, intermediate timeframes (ITF) for trend analysis, and lower timeframes (LTF) for zone-specific analysis.
The indicator provides a table displayed on the chart, offering valuable information for analysis. Let's go through each row of the table:
1. Location:
This row represents the analysis of the curve on the higher time frame (HTF) to identify key levels. It determines whether the price is in a retail area (high on the curve) or a wholesale area (low on the curve). Trading within the wholesale area is considered a strong sign.
2. Trend:
This row focuses on the intermediate time frame (ITF) trend. It indicates whether the trend is upward or downward. If the ITF trend is up and you intend to buy, it suggests a strong point.
3. Achievement:
This row analyzes the achievement of the zone on the lower time frame (LTF). It considers whether the leg-out candle or follow-through candles of the zone have broken any opposite side zone or pivot level. A breakout in the opposite direction is seen as an excellent point.
4. Strength:
This row assesses the strength of the zone on the lower time frame (LTF) where the trade is planned. It looks at the strength of the leg-out candle, such as whether it's a gap candle, an exciting candle, or a candle with follow-through. A strong leg-out candle indicates an excellent point.
5. Time:
This row evaluates the time spent by base candles inside the zone on the lower time frame (LTF). It considers the number of base candles and the duration spent in the zone. Typically, 1 to 3 base candles are seen as strong, while more than 6 base candles receive 0 points.
6. Reward-to-Risk Ratio (RR):
This row focuses on the Risk-to-Reward (RR) ratio of the zone on the lower time frame (LTF) where the trade is planned. It compares the potential reward to the risk. A higher RR ratio, such as 1:3 or greater, is considered excellent.
7. Freshness:
This row analyzes the freshness of the zone on the lower time frame (LTF). It indicates whether the zone is new or has been tested multiple times. A fresh zone or one that has been tested only once is preferable.
Furthermore, it's important to mention that you have the flexibility to customize the text for each parameter according to your specific requirements. The table is designed to be fully customizable, allowing you to adapt the wording to your preferences and trading strategy.
This customization feature ensures that the indicator aligns with your personal trading approach and makes it easier for you to interpret and analyze the information provided in the table.
Additionally, please note that only the total score is displayed in the table on the chart by default. This is to avoid any visibility issues caused by displaying all the parameters. However, if you wish to see all the parameters in the table on the chart, you can easily enable them through the settings.
By enabling the parameters, you will have a comprehensive view of each factor's contribution to the Trade Strength Score directly on the chart.
By utilizing this indicator, calculating the Trade Strength Score becomes easier, providing a comprehensive analysis of various factors that influence trading decisions.
This indicator is developed by Afnan Tajuddin to assist fellow traders in conducting a top-down approach in an effective and efficient manner.
For more educational articles and trade setup ideas, feel free to follow me on TradingView and join me on the journey towards financial freedom through trading.
Directional Volume EStimate from Price Action (RedK D_VESPA)The "Directional Volume EStimate from Price Action (RedK D_VESPA)" is another weapon for the VPA (Volume Price Analysis) enthusiasts and traders who like to include volume-based insights & signals to their trading. The basic concept is to estimate the sell and buy split of the traded volume by extrapolating the price action represented by the shape of the associated price bar. We then create and plot an average of these "estimated buy & sell volumes" - the estimated average Net Volume is the balance between these 2 averages.
D_VESPA uses clear visualizations to represent the outcomes in a less distracting and more actionable way.
How does D_VESPA work?
-------------------------------------
The key assumption is that when price moves up, this is caused by "buy" volume (or increasing demand), and when the price moves down, this is due to "selling" volume (or increasing supply). Important to note that we are making our Buy/sell volume estimates here based on the shape of the price bar, and not looking into lower time frame volume data - This is a different approach and is still aligned to the key concepts of VPA.
Originally this work started as an improvement to my Supply/Demand Volume Viewer (V.Viewer) , I ended up re-writing the whole thing after some more research and work on VPA, to improve the estimation, visualization and usability / tradability.
Think of D_VESPA as the "Pro" version of V.Viewer -- and please go back and review the details of V.Viewer as the root concepts are the same so I won't repeat them here (as it comes to exploring Balance Zone and finding Price Convergence/Divergence)
Main Features of D_VESPA
--------------------------------------
- Update Supply/Demand calculation to include 2-bar gaps (improved algo)
- Add multiple options for the moving average (MA type) for the calculation - my preference is to use WMA
- Add option to show Net Volume as 3-color bars
- Visual simplification and improvements to be less distracting & more actionable
- added options to display/hide main visuals while maintaining the status line consistency (Avg Supply, Avg Demand, Avg Net)
- add alerts for NetVol moving into Buy (crosses 0 up) or Sell (crosses 0 down) modes - or swing from one mode to the other
(there are actually 2 sets of alerts, one set for the main NetVol plot, and the other for the secondary TF NetVol - give user more options on how to utilize D_VESPA)
Quick techie piece, how does the estimated buy/sell volume algo work ?
------------------------------------------------------------------------------------------
* per our assumption, buy volume is associated with price up-moves, sell volume is associated with price down-moves
* so each of the bulls and bears will get the equivalent of the top & bottom wicks,
* for up bars, bulls get the value of the "body", else the bears get the "body"
* open gaps are allocated to bulls or bears depending on the gap direction
The below sketch explains how D_VESPA estimates the Buy/Sell Volume split based on the bar shape (including gap) - the example shows a bullish bar with an opening gap up - but the concept is the same for a down-bar or a down-gap.
I kept both the "Volume Weighted" and "2-bar Gap Impact" as options in the indicator settings - these 2 options should be always kept selected. They are there for those who would like to experiment with the difference these changes have on the buy/sell estimation. The indicator will handle cases where there is no volume data for the selected symbol, and in that case, it will simply reflect Average Estimated Bull/Bear ratio of the price bar
The Secondary TF Est Average Net Volume:
---------------------------------------------------------
I added the ability to plot the Estimate Average Net Volume for a secondary timeframe - options 1W, 1D, 1H, or Same as Chart.
- this feature provides traders the confidence to trade the lower timeframes in the same direction as the prevailing "market mode"
- this also adds more MTF support beyond the existing TradingView's built-in MTF support capability - experiment with various settings between exposing the indicator's secondary TF plot, and changing the TF option in the indicator settings.
Note on the secondary TF NetVol plot:
- the secondary TF needs to be set to same as or higher TF than the chart's TF - if not, a warning sign would show and the plot will not be enabled. for example, a day trader may set the secondary TF to 1Hr or 1Day, while looking at 5min or 15min chart. A swing/trend trader who frequently uses the daily chart may set the secondary TF to weekly, and so on..
- the secondary TF NetVol plot is hidden by default and needs to be exposed thru the indicator settings.
the below chart shows D_VESPA on a the same (daily) chart, but with secondary TF plot for the weekly TF enabled
Final Thoughts
-------------------
* RedK D_VESPA is a volume indicator, that estimates buy/sell and net volume averages based on the price action reflected by the shape of the price bars - this can provide more insight on volume compared to the classic volume/VolAverage indicator and assist traders in exploring the market mode (buyers/sellers - bullish/bearish) and align trades to it.
* Because D_VESPA is a volume indicator, it can't be used alone to generate a trading signal - and needs to be combined with other indicators that analysis price value (range), momentum and trend. I recommend to at least combine D_VESPA with a variant of MACD and RSI to get a full view of the price action relative to the prevailing market and the broader trend.
* I found it very useful to take note and "read" how the Est Buy vs Est Sell lines move .. they sort of "tell a story" - experiment with this on your various chart and note the levels of estimate avg demand vs estimate avg supply that this indicator exposes for some very valuable insight about how the chart action is progressing. Please feel free to share feedback below.
Normalized Elastic Volume Oscillator (MTF)The Multi-Timeframe Normalized Elastic Volume Oscillator combines volume analysis with multiple timeframe analysis. It provides traders with valuable insights into volume dynamics across different timeframes, helping to identify trends, potential reversals, and overbought/oversold conditions.
When using the Multi-Timeframe Normalized Elastic Volume Oscillator, consider the following guidelines:
Understanding Input Parameters : The indicator offers customizable input parameters to suit your trading preferences. You can adjust the EMA length (emaLength), scaling factor (scalingFactor), volume weighting option (volumeWeighting), and select a higher timeframe for analysis (higherTF). Experiment with these parameters to optimize the indicator for your trading strategy.
Multiple Timeframe Analysis : The Multi-Timeframe Normalized Elastic Volume Oscillator allows you to analyze volume dynamics on both the current timeframe and a higher timeframe. By comparing volume behavior across different timeframes, you gain a broader perspective on market trends and the strength of volume deviations. The higher timeframe analysis provides additional confirmation and helps identify more significant market shifts.
Normalized Values : The indicator normalizes the volume deviations on both timeframes to a consistent scale between -0.25 and 0.75. This normalization makes it easier to compare and interpret the oscillator's readings across different assets and timeframes. Positive values indicate bullish volume behavior, while negative values suggest bearish volume behavior.
Interpreting the Indicator : Pay attention to the position of the Multi-Timeframe Normalized Elastic Volume Oscillator lines relative to the zero line on both timeframes. Positive values on either timeframe indicate a bullish bias, while negative values suggest a bearish bias. The distance of the oscillator from the zero line reflects the strength of the volume deviation. Extreme readings, both positive and negative, may indicate overbought or oversold conditions, potentially signaling a trend reversal or exhaustion.
Combining with Other Indicators : For more robust trading decisions, consider combining the Multi-Timeframe Normalized Elastic Volume Oscillator with other technical analysis tools. This could include trend indicators, support/resistance levels, or candlestick patterns. By incorporating multiple indicators, you gain additional confirmation and increase the reliability of your trading signals.
Remember that the Multi-Timeframe Normalized Elastic Volume Oscillator is a valuable tool, but it should not be used in isolation. Consider other factors such as price action, market context, and fundamental analysis to make well-informed trading decisions. Additionally, practice proper risk management and exercise caution when executing trades.
By utilizing the Multi-Timeframe Normalized Elastic Volume Oscillator, you gain a comprehensive view of volume dynamics across different timeframes. This knowledge can help you identify potential market trends, confirm trading signals, and improve the timing of your trades.
Take time to familiarize yourself with the indicator and conduct thorough testing on historical data. This will help you gain confidence in its effectiveness and align it with your trading strategy. With experience and continuous evaluation, you can harness the power of the Multi-Timeframe Normalized Elastic Volume Oscillator to make informed trading decisions.
MTF Stationary Extreme IndicatorThe Multiple Timeframe Stationary Extreme Indicator is designed to help traders identify extreme price movements across different timeframes. By analyzing extremes in price action, this indicator aims to provide valuable insights into potential overbought and oversold conditions, offering opportunities for trading decisions.
The indicator operates by calculating the difference between the latest high/low and the high/low a specified number of periods back. This difference is expressed as a percentage, allowing for easy comparison and interpretation. Positive values indicate an increase in the extreme, while negative values suggest a decrease.
One of the unique features of this indicator is its ability to incorporate multiple timeframes. Traders can choose a higher timeframe to analyze alongside the current timeframe, providing a broader perspective on market dynamics. This feature enables a comprehensive assessment of extreme price movements, considering both short-term and longer-term trends.
By observing extreme movements on different timeframes, traders can gain deeper insights into market conditions. This can help in identifying potential areas of confluence or divergence, supporting more informed trading decisions. For example, when extreme movements align across multiple timeframes, it may indicate a higher probability of a significant price reversal or continuation.
To use the Multiple Timeframe Stationary Extreme Indicator effectively, traders should consider a few key points:
- Choose the Timeframes : Select the appropriate timeframes based on your trading strategy and objectives. The current timeframe represents the focus of your analysis, while the higher timeframe provides a broader context. Ensure the chosen timeframes align with your trading style and the asset you are trading.
- Interpret Extreme Movements : Pay attention to extreme movements that breach certain levels. Values above zero indicate a rise in the extreme, potentially signaling overbought conditions. Conversely, values below zero suggest a decrease, potentially indicating oversold conditions. Use these extreme movements as potential entry or exit signals, in conjunction with other indicators or confirmation signals.
- Validate with Price Action : Confirm the extreme movements observed on the indicator with price action. Look for confluence between the indicator's extreme levels and key support or resistance levels, trendlines, or chart patterns. This can provide added confirmation and increase the reliability of the signals generated by the indicator.
- Consider Volatility Filters : The indicator can be enhanced by incorporating volatility filters. By adjusting the sensitivity of the extreme differences calculation based on market volatility, traders can adapt the indicator to different market conditions. Higher volatility may require a longer lookback period, while lower volatility may call for a shorter one. Experiment with volatility filters to fine-tune the indicator's performance.
- Combine with Other Analysis Techniques : The Multiple Timeframe Stationary Extreme Indicator is most effective when used as part of a comprehensive trading strategy. Combine it with other technical analysis tools, such as trend indicators, oscillators, or chart patterns, to form a well-rounded approach. Consider risk management techniques and money management principles to optimize your trading strategy.
---------------------------------------------------------------------------------------------------------------------------------------------------------------
Remember that trading indicators, including the Multiple Timeframe Stationary Extreme Indicator, should not be used in isolation. They serve as tools to assist in decision-making, but they require proper context, analysis, and confirmation. Always conduct thorough analysis and consider market conditions, news events, and other relevant factors before making trading decisions.
It's recommended to backtest the indicator on historical data to assess its performance and effectiveness for your trading approach. This will help you understand its strengths and limitations, allowing you to refine and optimize your usage of the indicator.
Supply and DemandThis is a "Supply and Demand" script designed to help traders spot potential levels of supply (resistance) and demand (support) in the market by identifying pivot points from past price action.
Differences from Other Scripts:
Unlike many pivot point scripts, this one offers a greater degree of customization and flexibility, allowing users to determine how many ranges of pivot points they wish to plot (up to 10), as well as the number of the most recent ranges to display.
Furthermore, it allows users to restrict the plotting of pivot points to specific timeframes (15 minutes, 30 minutes, 1 hour, 4 hours, and daily) using a toggle input. This is useful for traders who wish to focus on these popular trading timeframes.
This script also uses the color.new function for a more transparent plotting, which is not commonly used in many scripts.
How to Use:
The script provides two user inputs:
"Number of Ranges to Plot (1-10)": This determines how many 10-bar ranges of pivot points the script will calculate and potentially plot.
"Number of Last Ranges to Show (1-?)": This determines how many of the most recent ranges will be displayed on the chart.
"Limit to specific timeframes?": This is a toggle switch. When turned on, the script only plots pivot points if the current timeframe is one of the following: 15 minutes, 30 minutes, 1 hour, 4 hours, or daily.
The pivot points are plotted as circles on the chart, with pivot highs in red and pivot lows in green. The transparency level of these plots can be adjusted in the script.
Market and Conditions:
This script is versatile and can be used in any market, including Forex, commodities, indices, or cryptocurrencies. It's best used in trending markets where supply and demand levels are more likely to be respected. However, like all technical analysis tools, it's not foolproof and should be used in conjunction with other indicators and analysis techniques to confirm signals and manage risk.
A technical analyst, or technician, uses chart patterns and indicators to predict future price movements. The "Supply and Demand" script in question can be an invaluable tool for a technical analyst for the following reasons:
Identifying Support and Resistance Levels : The pivot points plotted by this script can act as potential levels of support and resistance. When the price of an asset approaches these pivot points, it might bounce back (in case of support) or retreat (in case of resistance). These levels can be used to set stop-loss and take-profit points.
Timeframe Analysis : The ability to limit the plotting of pivot points to specific timeframes is useful for multiple timeframe analysis. For instance, a trader might use a longer timeframe to determine the overall trend and a shorter one to decide the optimal entry and exit points.
Customization : The user inputs provided by the script allow a technician to customize the ranges of pivot points according to their unique trading strategy. They can choose the number of ranges to plot and the number of the most recent ranges to display on the chart.
Confirmation of Other Indicators : If a pivot point coincides with a signal from another indicator (for instance, a moving average crossover or a relative strength index (RSI) divergence), it could provide further confirmation of that signal, increasing the chances of a successful trade.
Transparency in Plots : The use of the color.new function allows for more transparent plotting. This feature can prevent the chart from becoming too cluttered when multiple ranges of pivot points are plotted, making it easier for the analyst to interpret the data.
In summary, this script can be used by a technical analyst to pinpoint potential trading opportunities, validate signals from other indicators, and customize the display of pivot points to suit their individual trading style and strategy. Always remember, however, that no single indicator should be used in isolation, and effective risk management strategies should always be employed.
See inside Candles: Directionality %; Constituent Bars & GapsSee inside candles based on user-input LTF setting: get data on 'Directionality' of your candle; Gaps (total and Sum; UP and DOWN); Number of Bull or Bear constituent candles
//Features:
-DIRECTIONALITY: compare length of the 'zig-zag' random walk of lower time frame constituent candles, to the full height of the current candle. Resulting % I refer to as 'directionality'.
-GAPs: what i refer to as 'gaps' are also known as Volume imbalances: the gap between previous candles close and current candle's open (if there is one).
--Gaps total (up vs down gaps). Number of Up gaps printed above bar in green, down gaps printed below bar in red.
--Gaps Sum (total summed UP gap, total summed down gaps. Sum of Up gaps printed above bar in green, Sum of down gaps printed below bar in red.
-Candles Total: Numer of LTF up vs down candles within current timeframe candle. Number of up candles printed above bar in green, Number of down candles printed below bar in red.
//USAGE:
-Primary purpose in this was the Directionality aspect. Wanted to get a measure of how choppy vs how directional the internals of a candle were. Idea being that a candle with high % directionality (approaching 100) would imply trending conditions; while a candle which was large range and full bodies but had a low % directionality would imply the internals were back-and-forth and => rebalanced, potentially indicating price may not need to retrace back into it and rebalance further. All rather experimental, please treat it as such: have a play around with it.
-Number of gaps, Sums of up and down gaps, ratio of up and down constituent candles also intended to serve a similar purpose as the above.
-Set the input lower timeframe; this must obviously be lower then your current timeframe. You will significant differences in results depending on the ratio your timeframes (chart timeframe vs user-input timeframe).
//User Inputs:
-Lower timeframe input (setting child candle size within current chart parent candle).
-Choose function from the four listed above.
-typical formating options: Bull color/bear color txt for gaps functions.
-display % unit or not.
-display vertical or horizontal text.
-Set min / max directionality thresholds; and color code results.
-Toggle on/off 'hide results outside of threshold' to declutter the chart.
-choose label style.
//NOTES:
-Directionality thresholds can be set manually; Max and Min thresholds can be set to filter out 'non-extreme' readings.
-Note that directionality % can sometimes exceed 100%, in cases where price trends very strongly and gaps up continuously such that sum of constituent candles is less than total range of parent candle.
-Personally i like the idea of seeking bold, large-range, full bodied candles, with a lower than typical directionality %; indicating that a price move is both significant and it's already done it's rebalancing; I would see this as potentially favourable for continuation (obviously depending on context).
---- Showcase of the other functions beyond Directionality percentage ----
Candles Total (bull vs Bear). ES1! Hourly; ltf = 5min: Candles total: LTF up candles and LTF down candles making up the current HTF candle (constituent number of UP candles printed above in green, Down candles printed below in red):
Gaps SUM. SPX hourly, ltf = 5min. Sum of 'UP' gaps within candle printed above in green, sum of 'DOWN' gaps printed below in red:
Gaps TOTAL: SPX hourly, ltf = 1min. Simply the total of 'up' gaps vs 'down' gaps withing our candle; based on the user input constituent candles within:
Bar composition in 1minute | True candlestick colorThe indicator shows the true color of a bar based on the internal composition on 1 minute timeframe and the final outcome. It uses following parameters of 1minute and current timeframe inputs
relative bar close, average volume vs current volume and finally the volume of internal candles.
It follows following steps:
First, it defines the arrays of high, low, close, volume in one minute timeframe
Second, it identifies the negative and positive volume based on the bar closing at one minute timeframe
Third , it adds all the volume and find whether the overall volume is positive or negative for overall bar in higher timeframe (current timeframe)
Fourth, it compare the volume in current timeframe to average of volume in in current timeframe
Fifth, if relative closing, relative volume (current timeframe) and the combined volume (in 1 minute timeframe) gives same outcome then color of the bar is decided whether the bar is bullish, bearish or inconclusive/contnuation.
Through this you get to check price action in 1minute timeframe and the ultimate outcome in current timeframe. this helps in understanding whether the bar is truly bullish or bearish or continuation of the trend
Feel free to connect for any query.
The Trend SetterThe "Trend Setter" script is a technical indicator that combines several other indicators to identify trends and potential entry points in the market. It is designed to work with various financial markets, including stocks, forex, and futures, and can be used on any timeframe.
The script uses the TTM Squeeze indicator, Bollinger Bands, Keltner Channels, CCI, and Parabolic SAR to identify trends and potential entry points. The TTM Squeeze is a custom indicator that identifies periods of low volatility, while the Bollinger Bands and Keltner Channels are used to identify potential breakouts. The CCI is used to identify potential overbought and oversold conditions, and the Parabolic SAR is used to identify potential trend reversals.
The TTM Squeeze indicator is a combination of Bollinger Bands and Keltner Channels. The indicator creates a "squeeze" when the Bollinger Bands move inside the Keltner Channels. This indicates a period of low volatility and is often followed by a period of increased volatility or a breakout. The script uses this information to identify potential trading opportunities.
The Bollinger Bands are a popular indicator used to identify potential breakouts. They consist of a moving average (the basis) and two standard deviation lines (the upper and lower bands). When the price moves outside the bands, it is considered a potential breakout.
Keltner Channels are similar to Bollinger Bands but are based on the Average True Range (ATR) instead of standard deviation. They consist of an exponential moving average (the basis) and two lines that are offset from the basis by a multiple of the ATR. When the price moves outside the channels, it is considered a potential breakout.
The CCI (Commodity Channel Index) is used to identify potential overbought and oversold conditions. It measures the difference between the typical price (the average of the high, low, and close) and a moving average of the typical price. The result is then divided by a multiple of the mean deviation. When the CCI moves above a certain threshold, it is considered overbought, and when it moves below a certain threshold, it is considered oversold.
The Parabolic SAR (Stop and Reverse) is used to identify potential trend reversals. It consists of a series of dots that appear above or below the price, depending on the direction of the trend. When the price crosses the dots, it is considered a potential reversal.
The script plots arrow shapes on the chart to indicate long and short entry points, and can also generate alerts to notify the user of potential trading opportunities. The script uses the various indicators to determine the potential entry points based on the current market conditions.
Overall, the script is designed to help traders identify potential trading opportunities and make more informed trading decisions. However, as with any trading strategy or indicator, it is important to thoroughly test and validate the approach before using it in a live trading environment. Traders should also consider their risk tolerance and other factors before making any trades based on the indicator.
In assembling the different indicators in this script, there is a specific rationale for each one's inclusion, and how they work together to create a comprehensive trading strategy.
The TTM Squeeze indicator is used as a primary filter to identify periods of low volatility, as these are often followed by high volatility and potential breakouts. Bollinger Bands and Keltner Channels are then used to identify potential breakouts, with the former representing the upper and lower boundaries of price action and the latter representing the average price range. The inclusion of both indicators helps to confirm potential breakouts and provide a more comprehensive view of price action.
The CCI indicator is used as a momentum indicator to confirm potential trend reversals, by identifying overbought and oversold conditions. This is important because while breakouts can be identified using the TTM Squeeze and Bollinger Bands/Keltner Channels, they do not necessarily indicate the direction of the breakout. The CCI helps to confirm whether the price is overbought or oversold, and can indicate potential reversals or continuations of the trend.
Finally, the Parabolic SAR is used as a trend-following indicator to identify potential trend reversals, by placing dots above or below the price depending on the direction of the trend. This helps to identify potential reversal points in the trend and can be used in conjunction with other indicators to confirm potential entry and exit points.
In summary, the combination of these indicators is designed to provide a comprehensive view of the market, identifying periods of low volatility, potential breakouts, momentum changes, and trend reversals. By providing clear entry and exit points, the script aims to help traders make more informed trading decisions and improve their overall trading performance.
Weekly and daily separatorsThis script plots vertical line between each trading week (thick, solid) and smaller lines (dotted) between each trading day. This helps kepping a better overview on the aspect of time on the higher timeframes below 1D. The distance of the lines to the top and bottom of the chart is controlled by your chart settings menu under Appearance -> Margins.
T3 OscillatorTL;DR - An Oscillator based on T3 moving average
The T3 moving average is a well known moving average created by Tim TIllson. Oscillator values are created by using the simple formula "source (close by default) - T3 moving average". Tim Tillson used a "volume factor" of 0.7 in his original T3 calculation. I changed this value to 0.618 and added the option to change it if needed/wanted. I also added alarms for zero line crossing upwards and downward, a smoothing option and custom time frames.
Compared to other oscillators like TSI, MACD etc. I observed better signals, especially in trending market situations, from the T3 oscillator (I tested Forex and Crypto).
Usage is simple: If the oscillator is above 0 it indicates a bearish trend. If below 0 it indicates a bullish trend. -> Really simple to use. However it can also be used to determine micro trends and reversals when combined with price action analysis. To keeps things simple I have not added a moving average like many other oscillators because I think it is confusing and does not help (in this particular case).
P.S. I haven't found a T3 oscillator on Trading View. Code is free - do whatever you want with it ;)
ICT Session Opening FVG / Silver Bullet [MK]Students of ICT concepts will know that the first FVG found within particular session periods can identify an important price level for intraday traders.
"Find the first FVG at the start of the session and drag a box from it to the right"....ICT
The script finds the first FVG (either bull or bear) within the following periods:
London Killzone (0200 - 0500) EST
02:00 - 0259
03:00 - 0359
0400 - 0459
Dead Zone (05-00 - 0600) EST
05-00 - 0559
0600 - 0659
NY AM Killzone (0700 - 1100) EST
0700 - 0759
0830 - 0929
0929 - 0959
1000 - 1100 (Silver Bullet)
A chart higher timeframe can be chosen to detect the FVGs and they will be displayed on lower timeframe. Default is 5min for detection. I like to then following price reacting to 5mi FVGs on a 1 min chart.
FVG boxes can be extended to the end of the session, or to any time within the current days trading hours. Colors/Labels/ Session Periods can all be edited. A maximum timeframe for display is available and
timezone can be adjusted.
FVGs are only shown for the current days trading hours.
Jesse Livermore Strategy [Buy & Sell]Jesse Livermore was a famous trader who made a fortune in the early 20th century through his unique approach to trading.
While he did not leave behind a single, specific trading strategy that is attributed to him, I have tried to reproduce one.
His trading strategy was based on understanding market trends and sentiment, and he used several technical indicators to identify potential entry and exit points.
Some of the indicators he used include:
Price Action:
Jesse Livermore relied heavily on price action to make trading decisions.
He believed that the price itself was the best indicator of market sentiment, and that by analyzing the price movement, he could identify trends and market behavior.
Volume:
Livermore also used volume to confirm price movements.
He believed that a rise in volume along with a price increase indicated a strong bullish trend, while a decrease in volume with a price increase indicated a weak trend.
Pivot Points:
Another key component of Jesse Livermore's trading strategy was pivot points.
He used pivot points to identify potential support and resistance levels in the market, which he then used to identify potential entry and exit points.
Jesse Livermore outlined a simple trading system: wait for pivotal points before entering a trade.
When the points come into play, trade them using a buffer, trading in the direction of the overall market.
Let the price dictate your actions and stay with profitable trades until there is good reason to exit the trade.
The one I have tried to reproduce it's based on Pivot High and Low looking back 5 Days, and the average price oscillator.
When the price is bellow the support defined line it's time to Buy ( Long Position ), when the Price line is over the Resistance Line it's time to Sell ( Short Position )
This indicator has to be checked, and tried into a Real-Time context, so using the Replay functionality of TradingView is the best way to see and understand how Signals comes
(NB: look back into the chart without Replay should give you wrong Buy/Sell information)
The Indicator can be used on every TimeFrames, but the better ones are 5min - 15min.
I will add the possibility to choose the TimeFrames value for Pivot High and Low.
I will create a version with Alerts for Buy and Sell and the possibility to integrate it with "3commas Bot" where the best deal can be to set a TP to 1% for each Long or Short Entry.
Let's try it and comment for doubts or questions.
Crypto Price Diffrence
# Compare the price difference between cryptocurrency exchanges of the current cryptocurrency symbol.
# Supports Binance, Bybit, Bitget, Huobi, Mexc, and Gateio.
# The number displayed in the table is a percentage of the price difference, and a "+" indicates that the current exchange is more expensive.
# 현재 보고있는 가상화폐 심볼의 가상화폐 거래소간 가격차이를 비교해줍니다.
# Binance, Bybit, Bitget, Huobi, Mexc, Gateio 를 지원합니다.
# 테이블에 표시되는 수치는 가격차이의 퍼센트이며 +면 현재거래소가 더비싼 상태입니다.
Daily Gaps & Trapped PositionsThis script builds substantially upon the default Gaps script provided by Tradingview. Functionality was added to allow users to decide what price from the previous session is used to determine a daily gap, added support for showing gaps across all timeframes up to the daily time frame, and also allow gaps to be shown even with ETH enabled on the chart. This script provides support across normal securities, futures, and also crypto.
Users can decide between the following selections to determine if a daily gap has formed:
- Previous Session Close
- Previous Session High/Low
- Last RTH Candle High/Low
The other larger piece that was added is something called trapped positions or what some folks familiar with Market Profile would call "single prints". They could also be considered FVGs but they are a specific subset of FVGs as these must from above or below the current session's high/low.
Single prints form above or below a current session's high/low and can be considered an area where price has moved too fast in that area and price will most likely return to these areas at a later point in time. In some teachings, these are also looked at as "trapped shorts" (lighter blue box color) or "trapped supply" (yellow orange box color) which creates an area where there will be potential support (trapped shorts) or resistance (trapped supply) when this area is revisited in the future. Adding these to your chart will simply provide additional areas of interest where you may see buying or selling.
Both gaps and trapped positions have the following options:
- Show only active gaps/trapped positions. Selecting this will only show areas where price has not completely traded through the box.
- Close gaps/trapped positions partially. If this is selected, it will reduce the box size as price is traded through the area. If it is not selected, the box will only disappear once price has traded through the entire box completely.
There are some additional settings that allow you to tailor how many boxes show up on the chart. These settings are as follows:
- Max number of boxes. This setting will only plot up to this number of gaps/trapped positions.
- Minimum Deviation. This will prevent gaps/trapped positions from showing if they are too small relative to average across that last 14 periods.
- Limit Max Box Trail Length (bars). If checkbox is selected, the box will stop being extended after X number of bars given in this input.
DCA Detective | v1.0BINANCE:FETBUSD
The DCA Detective | v1.0 strategy revolutionizes the realm of DCA (Dollar Cost Averaging) trading, integrating advanced trade initiation predicated on savvy Technical Analysis (TA) signals. This strategy's distinctive feature rests in its capacity to leverage TA signals or preset percentage levels to trigger safety orders, providing adaptability based on your preference. Bid farewell to rudimentary safety order placements.
The strategy incorporates a comprehensive array of parameters:
RSI Oversold Level - a predetermined level signaling a potential oversold condition where a price rebound may be imminent.
Divergence Lookback Period - this parameter specifies the duration over which the system scrutinizes for any disparity between price and RSI.
Minimum Bars Between Trades - this guarantees a specific interval between trades, thwarting excessive trading and promoting diversification over time.
Rate of Change (ROC) - a momentum-oriented technical indicator that gauges the percentage alteration in price between the current price and the price a certain number of periods back.
Stochastic Length and Oversold - parameters that delineate the Stochastic Oscillator, another momentum indicator that compares a particular closing price of a security to a spectrum of its prices over a specified period.
Higher Timeframe RSI Length and Oversold Level - for heightened precision, these parameters operate on lower timeframes, offering a wider outlook and aiding in the filtering of market noise.
The DCA Detective | v1.0 strategy deploys bullish divergence identified by the RSI and a crossover of the RSI over the oversold level as primary entry signals. Safety order conditions can be set to either Percentage or Smart, based on your preference. The "Smart" condition utilizes the same rules as the initial entry order to place safety orders.
The strategy also entails additional configuration settings such as the maximum safety orders, safety order price deviation, safety order volume scale, safety order step scale, and take profit percentage.
Main goal is to catch possible market bottom/dip.
In summary, the DCA Detective | v1.0 strategy proposes a sophisticated and nuanced approach to DCA trading. It taps into the potential of TA signals to initiate trades, while using safety orders as a risk management tool, with the intent to minimize possible losses and decrease overall time in trade. This strategy stands as a testament to refined trading tactics, crafted for those who endorse strategic investment and measured risk-taking.
Through webhook integration, the DCA Detective | v1.0 strategy can send signals to 3commas to initiate trades, adjust safety orders, and take profit at the designated percentages. This provides traders with a hands-off approach to trading, allowing them to focus on other areas of their portfolio or strategy while the DCA Detective | v1.0 strategy runs in the background.
So far, I haven't come across a good DCA strategy based on TA orders, so I created my own. I was troubled by my prolonged exposure to red bags, but with proper configuration, this strategy should get you out of the trade as soon as possible. I have managed to enter most of the good coins at an unbeatable average trade time and also eliminate the maximum trade time to less than 10 days !
MTF Trendlines on chart_Pro[vn]Hello Traders .
👉This is an indicator of the trendlines in the analysis series with my trendlines.
- It statistics the upper and lower trend lines of the current Time Frame.
- Pine Script strategy draws pivot points and trendlines on the chart.
- This strategy allows the user to specify the interval to calculate the pivot points and the number of pivot points used to generate the trend lines.
- In the process of trading with the trendline, I see different timeframes showing each trendline differently, many times the trendline in the 15m frame has been broken but I don't know where the price is going, and it takes a lot of time to find support points, resistance to entry or take profit, So I came up with the idea of drawing different timeframes on the same chart in a specified timeframe, and I found it shortened the time to find support and resistance points in trading without having to switch back and forth between timeframes.
- For example, when the H1 trendline breaks downwards, we can determine a high probability that the price will be supported by the trendlines below it. for us to find entry points or exit orders effectively. Or when the price breaks the H1 trendline to go up, the chart shows us the trend lines above that broken H1 line so that we have a more effective entry or take profit point because it is a resistance zone....
- It can shows 7 pairs of trendlines during different times in the chart.
- each timeframe will display two trendlines, one up, and one down.When the price crosses a trendline, only one valid trendline is displayed, while the line crossed is not displayed.
- The upper trendline (down trend) is a red horizontal line, with the timeframe name and the value of its trendline, for example 4H(1.234) means timeframe = H4, the current value of the trendline is 1.234.
- The trendline below (up trend) is the blue horizontal line that also represents the same value as the line above.
- In the Settings section, up to 6 different timeframes can be selected to display those trendlines on the chart.
- Small timeframes such as m1, m3, m5 or D1 I leave the default (cannot be changed) in the 'Length' setting = 50, timeframe is H6, H8, H12 'Length' = 30, the rest of the time can be changed, the default is 20 ...
- Some cases I have applied with this indicator to look for entry points and take profit ...
Xin chào Trader Việt nam.
- Đây là chỉ báo về các đường xu hướng trendline trong chuỗi phân tích với đường xu hướng của tôi. Chỉ báo này là muti trendlines trên biểu đồ , nó hiển thị được tối da 7 cặp đường xu hướng trong các thời gian khác nhau trên 1 biểu đồ.Dựa vào đó các trader có cái nhìn trực quan nhất không phải thay đổi qua lại các thời gian để tìm các đường trendlines, và có thể tìm được những cú hồi hoặc phá ngưỡng để vào lệnh hoặc chốt lời .
- Thực ra trong quá trình giao dịch với đường xu hướng, tôi thấy các khung thời gian khác nhau thì hiển thị mỗi đường xu hướng khác nhau, nhiều khi đường xu hướng trong khung 15m đã bị phá nhưng không biết giá đi đến đâu, và mất rất nhiều thời gian để tìm các điểm hỗ trợ, kháng cự để vào lệnh hoặc chốt lời, nên tôi nảy ra ý tưởng vẽ ra các khung thời gian khác nhau trên cùng 1 biểu đồ trong một khung thời gian được chỉ định, và tôi thấy rút ngắn được thời gian để tìm các điểm hõ trợ , kháng cự trong giao dịch mà không cần phải chuyển qua lại giữa các khung thời gian .
- Chẳng hạn ,khi đường xu hướng H1 bị phá vỡ xuống dưới thì ta có thể xác định được khả năng cao giá sẽ được hỗ trợ bởi những đường xu hướng bên dưới nó. để ta tìm điểm vào lệnh hoặc thoát lệnh cho hiệu quả.Hoặc khi giá phá vỡ đường xu hướng H1 để đi lên , thì trên biểu đồ đã hiện cho ta các đường trendline bên trên đường H1 bị phá vỡ đó để ta có điểm vào hoặc chốt lời hiệu quả hơn vì đó là vùng kháng cự....
- Đường xu hướng bên trên(down trend) là đường kẻ ngang màu đỏ ,có kèm tên timeframe và giá trị của đường xu hướng của nó,ví dụ 4H(1.234) nghĩa là timeframe=4H, giá trị hiện tại đường trendline là 1.234.
- Đường xu hướng bên dưới (up trend) là đường ngang màu xanh cũng thể hiện giá trị như đường bên trên.
- Các timeframe nhỏ như 1m, 3m, 5m hoặc 1D tôi để mặc định (không thay đổi được) trong setting mục 'Length' = 50, timeframe là 6H,8H,12H 'Length' = 30, các thời gian còn lại có thể thay đổi được ,mặc định là 20
- Để điều chỉnh có thể vào setting để thiết lập các thời gian theo nhu cầu.
Buy / Sell Fractal Algorithm with SL Line GenerationThis algorithm is designed for usage across indices.
How it works?
The algorithm uses a variation of fractals, momentum, RSI and LRSI to determine a trends direction.
The Relative Strength Index (RSI) is a momentum-based oscillator used to measure the speed (velocity) and change (magnitude) of directional price movements. It provides a visual means to monitor both the current and historical strength and weakness of a particular market. The strength or weakness is based on closing prices over the duration of a specified trading period, creating a reliable metric of price and momentum changes
Momentum in trading refers to the direction and magnitude of price. Momentum plays a key role in assessing trend strength, and it is important to know when a trend is slowing down. Less momentum does not always lead to a reversal, but it does signal that something is changing, and the trend may consolidate or reverse
Fractals are patterns within price changes which are repeated across thousands of bars. Examples of fractals include the golden ratio, PHI and the spirals of the milk way. They are quite literally a universal concept.
Basics of usage:
When a bullish trend is detected; the algorithm will generate a green "SL Line" at a calculated point, which can be interpreted as an invalidation line.
If the price goes below this line, the bullish trend is invalidated. So long as it holds, the bullish trend is true until the next detection change.
When a bearish trend is detected; the algorithm will generate a red "SL Line", at a calculated point, which can be interpreted as an invalidation line.
If the prices goes above this line, the bearish trend is invalidated. So long as it holds, the bearish trend is true until the next detection change.
When a given trend is invalidated, the SL Line turns yellow and you enter a "pause zone", where neither a bearish nor bullish trend is calculated.
This resets itself on the next trend detection.
Additional information:
I have coded my own backtest to this algorithm, along with plotting the profit / loss of each generated trade.
The profit is calculated by the difference between the open bar of the trade after a long ( or short ) and the following trade.
If we are calculating a short, the resulting value is then multiplied by -1 to get a positive integer.
For calculating a loss we take the value of the open bar of the trade that generates a long, and take the difference between this and the SL line, and similarly for short positions. The code assumes the user is placing their SL at the indicated line.
Within the input settings there are a few customisation options:
Alpha & Fractal Energy Length & Source - Should not be changed.
Highly bands crossover? - Has no visible effect whether on or off. It refers to the fractal chart which in this iteration is not visible and rather a backend mechanic.
Apply fractal energy? - Should generally be left turned on. This is a noise reduction. Disabling will result in over-trading.
Apply normalization? - Has no impact, is solely used to make the fractal values more human-readable rather than decimal format.
Offset - refers to the offset value of the SL Line generations. This should be set to a value that gives you enough breathing room, and remember to include any spreads! Default is 0.2, written in %
Trading hours - This simply gives a session input for the trading hours you want to trade within, and then colours the background green for that session. Trading 24/7 is never a wise strategy, stick to whatever is most optimal for you.
Leverage - Whatever leverage you are using. Default is x20. This will affect the profit / loss calculations accordingly.
Start equity - refers to the equity value you want to backtest with. Some assets will generate NA for this in the backtest label explained later.
Label customisation options.
Note that the backtest label is by default hidden, and appears when you hover over the black label at the current bar. When enabled to visible, it will show a large text label that may cover your chart screen more than you wish.
Alerts -
There are dozens of alert functionalities here; first are the timeframe assignments for each alert, set by default to 2hrs.
These timeframes then affect the asset you select in the corresponding setting.
In total there are 8 additional assets you can set alerts for.
Once you have assigned the timeframe and asset for an alert, you can then check the tick box for that individual alert.
Once done, you set the alert as normal through the tradingview alerts window. Remember to set "alert function calls only"
-
Timers:
I have added some functionality for timers to be set, values are in minutes. These work on the exact time of placement. Do not change the extra symbol formula option.
-
Note that this backtest is not intended as a replacement for tradingview backtest, nor is there a guarantee that historical results are to be replicated in the future. Trading is inherently risky.
iGapFinderHi everybody!
I decided to release this script to help traders keeping track of market gaps on the CME.
The script works in general for any market and at any timeframe.
The script allows the user to:
- Identify price gaps of a customized amplitude (Gap Width)
- Compute the probabilities of filling them (specific for bullish and bearish gaps or cumulative)
- Visualize gaps on the chart through red and green price areas.
- Visualize the last N unfilled bullish and bearish gaps together with their time of creation.
Higher TimeFrame Smooth Moving AveragesScript is designed for those who dislike how plotting a moving average from a higher timeframe on a lower timeframe chart results in a choppy zigzag line when using the standard request.security(syminfo.ticker,"x",ta.sma(src,len)) method.
My more elegant solution was to translate the chart's current timeframe, and the selected higher timeframe into seconds, then check if selected timeframe is Larger than chart timeframe, but not so large that too many bars would be necessary. Then the quotient is calculated by dividing the chosen timeframe (value in seconds) by the chart's timeframe (value in seconds).
Then take that quotient and multiply it by the chosen length. This gives us how many bars of the chart's timeframe would be used in calculating the higher timeframe Moving Average
Use the value to calculate a moving average of choice (SMA,EMA,WMA,LRC,DEMA,TEMA,TRIMA,FRAMA) thanks to @TradingView 's ta library () and @alexgrover 's () for their functions supporting series as length, making this possible.
Basically, get how many of the current chart's bars are in the higher timeframe moving average and use that as the length for calculation using chart's timeframe.
If the higher timeframe relative is too large relative to chart's timeframe, due to bar referencing limits some combinations may not be possible under current limitations, but most will work by either moving chart's timeframe higher or higher timeframe lower assuming you aren't trying to do something too extreme like plotting a weekly moving average onto a 30 second chart etc.
[TTI] ToS MarketForecast Indicator––––HISTORY & CREDITS 🏦
The ThinkorSwim Market Forecast indicator is an adaptation of the Market Forecast indicator originally created for the ThinkorSwim trading platform. This version has been adapted for use in TradingView, replicating the functionality of the original indicator to assist traders in their market analysis.
––––WHAT IT DOES 💡
The ThinkorSwim Market Forecast is a technical indicator designed to identify potential buying and selling opportunities based on market analysis techniques applied to multiple timeframes. It consists of three plots: Momentum (red line), NearTerm (blue line), and Intermediate (green line). These plots tend to cycle on daily, weekly, and monthly basis, respectively. The indicator also includes static lines representing the top, bottom, and reversal zones.
Calculations:
The ThinkorSwim Market Forecast indicator is a technical analysis tool that calculates three separate lines – Momentum, NearTerm, and Intermediate – to help traders identify potential buying and selling opportunities. The calculations are based on market data from multiple timeframes and involve measuring price movements in relation to their recent high and low values. The indicator highlights areas of potential reversals in the upper and lower zones, allowing traders to make more informed decisions on when to enter or exit a position.
––––HOW TO USE IT 🔧
To use the ThinkorSwim Market Forecast indicator, look for simultaneous reversals of the three lines in the upper or lower zones. A Buy signal is generated when all three lines go through a reversal at the same (or almost the same) time in the bottom zone (green cloud). Conversely, a simultaneous reversal in the upper zone (red cloud) suggests a Sell signal.
To add this indicator to your TradingView chart, copy the provided script and paste it into the Pine editor. Save and add the script to your chart, and the indicator will be displayed, allowing you to analyze the market based on the Momentum, NearTerm, and Intermediate lines, as well as the upper and lower reversal zones.
