Dynamic RSI Bollinger Bands with Waldo Cloud
TradingView Indicator Description: Dynamic RSI Bollinger Bands with Waldo Cloud
Title: Dynamic RSI Bollinger Bands with Waldo Cloud
Short Title: Dynamic RSI BB Waldo
Overview:
Introducing an experimental indicator, the Dynamic RSI Bollinger Bands with Waldo Cloud, designed for adventurous traders looking to explore new dimensions in technical analysis. This indicator overlays on your chart, providing a unique perspective by integrating the Relative Strength Index (RSI) with Bollinger Bands, creating a dynamic trading tool that adapts to market conditions through the lens of momentum and volatility.
What is it?
This innovative indicator combines the traditional Bollinger Bands with the RSI in a way that hasn't been commonly explored. Here's a breakdown:
RSI Integration: The RSI is calculated with customizable length settings, and its values are used not just for momentum analysis but as the basis for the Bollinger Bands. This means the position and width of the bands are directly influenced by the RSI, offering a visual representation of momentum within the context of price volatility.
Dynamic Bollinger Bands: Instead of using price directly, the Bollinger Bands are calculated using a scaled version of the RSI. This scaling is done to fit the RSI values into the price range, ensuring the bands are relevant to the actual price movement. The standard deviation for these bands is also scaled accordingly, providing a unique volatility measure that's momentum-driven.
Waldo Cloud: Named after a visual representation concept, the 'Waldo Cloud' refers to the colored area between the Bollinger Bands, which changes based on various conditions:
Purple when RSI is overbought.
Blue when RSI is oversold.
Green for bullish conditions, defined by the fast-moving average crossing above the slow one, RSI is bullish, and the price is above the slow MA.
Red for bearish conditions, when the fast MA crosses below the slow MA, the RSI is bearish, and the price is below the slow MA.
Gray for neutral market conditions.
Moving Averages: Two simple moving averages (Fast MA and Slow MA) are included, which can be toggled on or off, offering additional trend analysis through crossovers.
How to Use It:
Given its experimental nature, this indicator should be used with caution and in conjunction with other analysis methods:
Identifying Market Conditions: Use the color of the Waldo Cloud to gauge market sentiment. A green cloud might suggest a good time to consider long positions, while a red cloud could indicate potential shorting opportunities. Purple and blue clouds highlight extreme conditions that might precede reversals.
Volatility and Momentum: The dynamic nature of the Bollinger Bands based on RSI provides insight into how momentum is affecting price volatility. When the bands are wide, it might indicate high momentum and potential trend continuation or reversal, depending on the RSI's position relative to its overbought/oversold levels.
Trend Confirmation: The moving average crossovers can act as confirmation signals. For instance, a bullish crossover (fast MA over slow MA) within a green cloud might strengthen a buy signal, whereas a bearish crossover in a red cloud might reinforce a sell decision.
Customization: Adjust the RSI length, overbought/oversold levels, and moving average lengths to suit different trading styles or market conditions. Experiment with these settings to find what works best for your strategy.
Combining with Other Indicators: Since this is an experimental tool, it's advisable to use it alongside established indicators like traditional Bollinger Bands, MACD, or trend lines to validate signals.
Conclusion:
The Dynamic RSI Bollinger Bands with Waldo Cloud is an experimental venture into combining momentum with volatility visually and interactively. It's designed for traders who are open to exploring new methods of market analysis.
Remember, due to its experimental status, this indicator should be part of a broader trading strategy, and backtesting or paper trading is recommended before applying it in live trading scenarios. Keep an eye on how the market reacts to the signals provided by this indicator and always consider risk management practices.
Indicators and strategies
Trendlines with Breaks and EMAs with Buy SellThis indicator is designed to assist traders by analyzing market trends and identifying potential buy or sell signals. Here's how it works:
Trendlines Detection:
The indicator identifies significant price points called swing highs and swing lows. These points are used to plot upper and lower trendlines that visually represent the market's trend direction.
Slope Calculation:
The slope of the trendlines is determined using one of three methods selected by the user:
ATR (Average True Range) for volatility-based slope calculation
Standard Deviation (Stdev) for measuring price dispersion
Linear Regression (Linreg) for statistical trend analysis
Moving Averages (EMAs):
The indicator includes three EMAs (Exponential Moving Averages) with periods of 9, 21, and 99. These EMAs help visualize the short-term, medium-term, and long-term price trends.
Breakout Detection:
When the price breaks above the upper trendline, a green "B" (Buy) signal appears, indicating a potential upward trend. Conversely, when the price breaks below the lower trendline, a red "S" (Sell) signal is displayed, suggesting a potential downward trend.
Extended Lines and Alerts:
The trendlines can be extended for better visualization, and alerts are triggered when breakouts occur, enabling traders to react promptly.
By combining trendline analysis with moving averages and breakout signals, this indicator offers a comprehensive tool for identifying trading opportunities in the market
RSI T/MRSI Trend/Mean
Utilizes upper and lower bands to identify trending and mean-reverting market conditions.
Default settings for 2D
Daily Bias IndicatorBasic ICT Daily Bias Indicator
When yesterday's price breaks above and closes above the high of the day before yesterday, it indicates a bullish bias.
When yesterday's price tests the low of the day before yesterday but does not break below it, it indicates a bullish bias.
When yesterday's price breaks below and closes below the low of the day before yesterday, it indicates a bearish bias.
When yesterday's price tests the high of the day before yesterday but does not break above it, it indicates a bearish bias.
Waldo Cloud Bollinger Bands
Waldo Cloud Bollinger Bands Indicator Description for TradingView
Title: Waldo Cloud Bollinger Bands
Short Title: Waldo Cloud BB
Overview:
The Waldo Cloud Bollinger Bands indicator is a sophisticated tool designed for traders looking to combine the volatility analysis of Bollinger Bands with the momentum insights of the Relative Strength Index (RSI) and moving average crossovers. This indicator overlays on your chart, providing a visual representation that helps in identifying potential trading opportunities based on price action, momentum, and trend direction.
Concept:
This indicator merges three key technical analysis concepts:
Bollinger Bands: These are used to measure market volatility. The bands consist of a central moving average (basis) with an upper and lower band that are standard deviations away from this average. In this indicator, you can customize the type of moving average used for the basis (SMA, EMA, SMMA, WMA, VWMA), the length of the period, the source price, and the standard deviation multiplier, offering flexibility to adapt to different market conditions.
Relative Strength Index (RSI): The RSI is incorporated to provide insight into the momentum of price movements. Users can adjust the RSI length and overbought/oversold levels and even choose the price source for RSI calculation, allowing for tailored momentum analysis. The RSI values influence the cloud color between the Bollinger Bands, signaling market conditions.
Moving Average Crossovers: Two moving averages with customizable lengths and types are used to identify trend direction through crossovers. A fast MA (default 20 periods) and a slow MA (default 50 periods) are plotted when enabled, helping to signal potential bullish or bearish market conditions when they cross over each other.
Functionality:
Bollinger Bands Calculation: The basis of the Bollinger Bands is calculated using a user-defined moving average type, with a customizable length, source, and standard deviation multiplier. The upper and lower bands are then plotted around this basis.
RSI Calculation: The RSI is computed using a user-specified source, length, and overbought/oversold levels. This RSI value is used to determine the color of the cloud between the Bollinger Bands, which visually represents market sentiment:
Purple when RSI is overbought.
Blue when RSI is oversold.
Green for bullish conditions (when the fast MA crosses above the slow MA, RSI is bullish, and the price is above the slow MA).
Red for bearish conditions (when the fast MA crosses below the slow MA, RSI is bearish, and the price is below the slow MA).
Gray for neutral conditions.
Trend Analysis: The indicator uses two moving averages to help determine the trend direction.
When the fast MA crosses over the slow MA, it suggests a potential change in trend direction, which, combined with RSI conditions, provides a more comprehensive trading signal.
Customization:
Users can select the type of moving average for all calculations through the "Global MA Type" setting, ensuring consistency in how trends and volatility are interpreted.
The Bollinger Bands settings allow for adjustments in length, source, standard deviation, and offset, giving traders control over how volatility is measured.
RSI settings include the ability to change the RSI source, length, and overbought/oversold thresholds, which can be fine-tuned to match trading strategies.
The option to show or hide moving averages provides clarity on the chart, focusing on either the Bollinger Bands or including the MA crossovers for trend analysis.
Usage:
This indicator is ideal for traders who incorporate both volatility and momentum in their trading decisions.
By observing the color changes in the cloud, along with the position of the price relative to the moving averages, traders can gauge potential entry and exit points.
For instance, a green cloud with a price above the slow MA might suggest a strong buying opportunity, while a red cloud with a price below might indicate selling pressure.
Conclusion:
The Waldo Cloud Bollinger Bands indicator offers a unique blend of volatility, momentum, and trend analysis, providing traders with a multi-faceted view of market conditions. Its customization options make it adaptable to various trading styles and market environments, making it a valuable addition to any trader's toolkit on Trading View.
Averaged Stochastic RSI by TenozenSimplicity beats everything! Averaged Stochastic RSi is calculated using the 2 points of stochastic of the RSI, where the difference is by 2 (larger), and averaged out the stochastic's values. In result it is less noisy and more responsive towards the market's momentum.
I hope you guys find this indicator useful! So far this is the best indicator I ever had! And I also learned that simplicity is better than complex blurry/abstract problems. Ciao!
custom ema strategya trend following strategy basically it uses two emas 100 and 200 when the 100 crosses 200 it will tell about trend and we take trade when the price closes above or below 100 ema. Usually gives best results on 1h and 4h time frame targeting 1:3 rr. Good luck
BTC Bollinger Band Reversion Bot### **BTC Bollinger Band Reversion Strategy** 📊
This strategy is designed to **identify potential reversals** in Bitcoin’s price by leveraging **Bollinger Bands, RSI confirmation, and volume filtering**. It helps traders spot **overbought and oversold conditions**, allowing them to enter high-probability trades.
---
### **🔹 Strategy Logic:**
1️⃣ **BUY Signal (Long Entry) 🚀**
- Price **touches or drops below the lower Bollinger Band** (indicating oversold conditions).
- RSI (14) **falls below 30** (confirming oversold momentum).
- Volume **is above the 20-period average** (to avoid false signals).
2️⃣ **SELL Signal (Short Entry) 🔻**
- Price **touches or moves above the upper Bollinger Band** (indicating overbought conditions).
- RSI (14) **rises above 70** (confirming overbought momentum).
- Volume **is above the 20-period average** (to confirm strength).
---
### **🔹 Why This Works?**
✅ **Mean Reversion Concept:** Assets tend to revert to their average price after extreme movements.
✅ **RSI Confirmation:** Ensures signals are backed by actual momentum shifts.
✅ **Volume Filter:** Reduces false signals caused by low liquidity.
✅ **Color-Coded Alerts:** Enhances readability for quick decision-making.
This strategy is ideal for **scalping or swing trading**, depending on the timeframe used. 📈
Would you like me to tweak it further or add stop-loss/take-profit levels? 🚀
CRT 1,5 and 9am Candle RangesThis script draws the 1,5 and 9am ranges with vertical lines, so u don't have to draw them each time...
Preopenprice//@version=6
indicator("Preopenprice", overlay=true)
// Function to get timestamp for 9:05 AM in UTC+5:30
getNineFiveTime(year, month, day) =>
timestamp("UTC+5:30", year, month, day, 9, 5)
// Initialize variables
var float nineFivePrice = na
var int totalDigitSum = 0
var int partialDigitSum = 0
var label nineFiveLabel = na // Initialize the label variable
// Capture the 9:05 AM candle close price only once
if (time == getNineFiveTime(year(timenow), month(timenow), dayofmonth(timenow)) and na(nineFivePrice))
nineFivePrice := close
// Calculate the sum of all digits
if (not na(nineFivePrice))
priceStr = str.replace(str.tostring(math.abs(nineFivePrice)), ".", "")
totalDigitSum := 0
for i = 0 to str.length(priceStr) - 1
digitStr = str.substring(priceStr, i, i + 1)
if str.length(digitStr) > 0
digit = str.tonumber(digitStr)
if not na(digit)
totalDigitSum += int(digit)
// Calculate the sum of digits (integer part only)
if (not na(nineFivePrice))
intPrice = int(math.abs(nineFivePrice))
priceStrInt = str.tostring(intPrice)
partialDigitSum := 0
for i = 0 to str.length(priceStrInt) - 1
digitStrInt = str.substring(priceStrInt, i, i + 1)
if str.length(digitStrInt) > 0
digit = str.tonumber(digitStrInt)
if not na(digit)
partialDigitSum += int(digit)
// Display the 9:05 AM price and sums in a label (above candles)
if (not na(nineFivePrice))
if na(nineFiveLabel) // Create the label only once
nineFiveLabel := label.new(bar_index, high, "9:05 AM Price: " + str.tostring(nineFivePrice, "#.##") + ", Total Sum: " + str.tostring(totalDigitSum) + ", Partial Sum (Int): " + str.tostring(partialDigitSum),
style=label.style_label_left, size=size.normal, color=color.blue, textcolor=color.white)
else
label.set_text(nineFiveLabel, "9:05 AM Price: " + str.tostring(nineFivePrice, "#.##") + ", Total Sum: " + str.tostring(totalDigitSum) + ", Partial Sum (Int): " + str.tostring(partialDigitSum))
label.set_y(nineFiveLabel, high + (high * 0.001)) // Position slightly above high
label.set_x(nineFiveLabel, bar_index)
Week division This TradingView Pine Script indicator works exclusively on the hourly timeframe. Its primary functions are:
1. Marking the Opening of Each Weekday:
• It places a vertical line at the opening hour of each day (Sunday to Friday).
2. Dividing the Week by Days:
• It visually separates each day within the weekly structure to help traders analyze price movements per day.
3. Displaying the Day Name:
• The script labels each day’s opening with its respective name (e.g., “Sunday”, “Tuesday”, etc.) at the bottom of the chart.
Key Features:
✔️ Works only on the hourly timeframe
✔️ Highlights the start of each weekday
✔️ Divides the week into separate days
✔️ Displays the day’s name on the chart
Let me know if you need any modifications! 🚀
1H Week division NY Time(-5UTC)This TradingView Pine Script indicator works exclusively on the hourly timeframe. Its primary functions are:
1. Marking the Opening of Each Weekday:
• It places a vertical line at the opening hour of each day (Monday to Friday).
2. Dividing the Week by Days:
• It visually separates each day within the weekly structure to help traders analyze price movements per day.
3. Displaying the Day Name:
• The script labels each day’s opening with its respective name (e.g., “Monday”, “Tuesday”, etc.) at the bottom of the chart.
Key Features:
✔️ Works only on the hourly timeframe
✔️ Highlights the start of each weekday
✔️ Divides the week into separate days
✔️ Displays the day’s name on the chart
Let me know if you need any modifications! 🚀
CME_MINI:MNQ1!
950 StandardNQ 9:50 AM Candle Strategy v3 (Trade at 9:55AM) - 1 Contract
Also called 950 Standard, 950 Bar, or The 950 Strategy.
This strategy places its trade at 9:55am each day based on the close of the 9:50am candle. Uses 5min timeframe candles. If candle closes red, or bearish, the strategy goes short. If candle closes green, or bullish, the strategy goes long. Brackets are 150tick TP and 200tick SL.
Bracket IndicatorThis is an indicator that shows tick target above and below the chart. Allows for visualizing continual bracket target moving with price before getting into trade.
So, for example, if you are watching price and wanting to target 10 points above or below. You can set this bracket indicator on the chart and you will be able to in real time see 10 points above/below the current price.
KDJ J Value Strategy (Weekly)This strategy is based on the KDJ indicator at the weekly level, using the changes in the J value to generate buy and sell signals. When the J value drops below -5, it is considered a buy signal; when the J value rises above 90, it is considered a sell signal.
The 950 Bar StrategyNQ 9:50 AM Candle Strategy v3 (Trade at 9:55AM) - 1 Contract
Also called the 950 Standard. The 950 Strategy.
This strategy places its trade at 9:55am each day based on the close of the 9:50am candle. Uses 5min timeframe candles. If candle closes red, or bearish, the strategy goes short. If candle closes green, or bullish, the strategy goes long. Brackets are 150tick TP and 200tick SL.
Squat Ratio IndicatorThe Squat Ratio is a market indicator that measures the relationship between volume and price movement to identify potential reversals or strong trends. It helps traders assess whether a price movement is supported by sufficient volume.
Formula for Squat Ratio
\text{Squat Ratio} = \frac{\text{Current Bar Volume}}{\text{Average Volume of Previous Bars}} \times \frac{\text{Current Bar Range}}{\text{Average Range of Previous Bars}}
Where:
• Current Bar Volume = Volume of the current price bar
• Average Volume = Average volume over a chosen period (e.g., 10 or 20 bars)
• Current Bar Range = (High - Low) of the current bar
• Average Range = Average of the past price ranges
How to Interpret Squat Ratio
1. High Squat Ratio (>1)
• Indicates that price movement is happening with higher volume than usual but is not breaking out significantly.
• Suggests potential accumulation (buyers stepping in) or distribution (sellers offloading).
• Could signal a trend reversal or strong breakout soon.
2. Low Squat Ratio (<1)
• Suggests that the price is moving with low volume, meaning the current move may lack strength.
• Often seen in weak trends or consolidation phases.
Using Squat Ratio in Nifty Trading
• If Nifty moves up with a high Squat Ratio, it may indicate strong buying interest and the potential for a breakout.
• If Nifty falls with a high Squat Ratio, it could mean strong selling pressure and a possible trend reversal.
• It can be used with other indicators like RSI, VWAP, and Delta for better trade confirmation.
Baxing-WatermarkWatamark ที่สามารถแสดงบน Chart
- ใส่ข้อความ และข้อความย่อยได้เอง พร้อมสามารถปรับแต่สีสัน และตำแหน่ง ได้ตามต้องการ
- มีส่วนของการแสดงผลิตภัณฑ์ กับ Timeframe
- สามาาถแสดงวันที่ และเวลา ได้ตาม Format ที่ระบุได้เอง และเลือก TimeZone(TZ) เพื่อให้แสดงวันที่และเวลาได้อย่างถูกต้อง
------------------------------
Watamark that can be displayed on Chart
- Insert title and sub-title by yourself, and can adjust the color and position as desired
- There is a section for displaying products and Timeframe
- Can display the date and time according to the specified Format and select TimeZone(TZ) to display the date and time correctly
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Three different momentumThis indicator is a custom-built tool for TradingView that combines three different momentum indicators into one, providing a comprehensive view of market momentum. It allows traders to:
Simultaneously monitor multiple momentum indicators: Instead of switching between different momentum indicators, you can see them all at once on a single chart.
Identify potential trading signals: By observing the convergence or divergence of the three momentum indicators, you can identify potential buy or sell signals.
Customize the indicator: You can adjust the parameters of each momentum indicator to suit your trading style and preferences.
How it Works
The Triple Momentum Indicator calculates and displays three different momentum indicators on the same chart. The specific momentum indicators used can be customized, but some popular options include:
Relative Strength Index (RSI): Measures the speed and change of price movements.
Moving Average Convergence Divergence (MACD): Shows the relationship between two moving averages of a security's price.
Stochastic Oscillator: Tracks the momentum of price by comparing the closing price to the range of prices over a given period.
How to Use It
Add the indicator to your TradingView chart.
Customize the settings: Adjust the parameters of each momentum indicator to your liking.
Interpret the signals: Look for areas where the three momentum indicators converge or diverge. This can indicate potential buy or sell signals.
Advantages
Saves time and effort: You don't have to switch between different momentum indicators.
Provides a comprehensive view of momentum: You can see how different momentum indicators are interacting with each other.
Can help identify potential trading signals: By observing the convergence or divergence of the three momentum indicators, you can identify potential buy or sell signals.
Limitations
No indicator is perfect: The Triple Momentum Indicator is just one tool in your trading arsenal. It should not be used in isolation to make trading decisions.
False signals are possible: Like any indicator, the Triple Momentum Indicator can generate false signals.
Requires some knowledge of momentum indicators: To use this indicator effectively, you need to have a basic understanding of how momentum indicators work.
Overall, the Triple Momentum Indicator is a valuable tool for traders who want to get a comprehensive view of market momentum. It can help you identify potential trading signals and make more informed trading decisions.
RSI Deviation & Correlation by DINVESTORQOverview:
This indicator analyzes the Relative Strength Index (RSI) over 252 days, calculating its mean (average) and standard deviation. Based on this, it sets an upper and lower threshold to determine overbought and oversold conditions.
Additionally, it calculates the correlation between RSI and price using a moving average, helping traders understand if RSI is moving in sync with price trends.
Key Features:
✅ RSI Deviation Bands
Upper Limit = RSI Avg + (2 × SD × 2.5)
Lower Limit = RSI Avg - (2 × SD × 2.5)
✅ Trading Signals:
Sell Signal: RSI crosses above the upper limit
Buy Signal: RSI drops below the lower limit
✅ RSI-Price Correlation Moving Average
Uses 50-day correlation between RSI and price
Helps confirm trend strength
✅ Customizable Parameters
RSI Length (Default: 252 Days)
Correlation Period (Default: 50 Days)
✅ Chart Visuals:
Plots RSI (blue), Upper Band (red), Lower Band (green)
Plots RSI-Price Correlation (orange)
Buy/Sell signals appear on chart
TradingView Indicator: RSI Deviation & Correlation Indicator
Overview:
This indicator analyzes the Relative Strength Index (RSI) over 252 days, calculating its mean (average) and standard deviation. Based on this, it sets an upper and lower threshold to determine overbought and oversold conditions.
Additionally, it calculates the correlation between RSI and price using a moving average, helping traders understand if RSI is moving in sync with price trends.
Key Features:
✅ RSI Deviation Bands
Upper Limit = RSI Avg + (2 × SD × 2.5)
Lower Limit = RSI Avg - (2 × SD × 2.5)
✅ Trading Signals:
Sell Signal: RSI crosses above the upper limit
Buy Signal: RSI drops below the lower limit
✅ RSI-Price Correlation Moving Average
Uses 50-day correlation between RSI and price
Helps confirm trend strength
✅ Customizable Parameters
RSI Length (Default: 252 Days)
Correlation Period (Default: 50 Days)
✅ Chart Visuals:
Plots RSI (blue), Upper Band (red), Lower Band (green)
Plots RSI-Price Correlation (orange)
Buy/Sell signals appear on chart
Pine Script for TradingView:
pinescript
Copy
Edit
//version=5
indicator("RSI Deviation & Correlation Indicator", overlay=false)
// User Inputs
length = input.int(252, title="RSI Period")
corr_length = input.int(50, title="Correlation Period")
// RSI Calculation
rsi_value = ta.rsi(close, length)
// Calculate Mean and Standard Deviation of RSI
rsi_avg = ta.sma(rsi_value, length)
rsi_sd = ta.stdev(rsi_value, length) * 2.5
// Define Upper and Lower Limits
upper_limit = rsi_avg + (rsi_sd * 2)
lower_limit = rsi_avg - (rsi_sd * 2)
// Buy and Sell Signals
buy_signal = rsi_value < lower_limit
sell_signal = rsi_value > upper_limit
// Correlation Moving Average between RSI and Price
rsi_price_correlation = ta.correlation(rsi_value, close, corr_length)
// Plot RSI with Bands
plot(rsi_value, title="RSI", color=color.blue)
plot(upper_limit, title="Upper Limit", color=color.red, linewidth=2)
plot(lower_limit, title="Lower Limit", color=color.green, linewidth=2)
plot(rsi_avg, title="Average RSI", color=color.gray, linewidth=2)
// Display Buy/Sell Signals on Chart
plotshape(buy_signal, location=location.bottom, color=color.green, style=shape.labelup, title="BUY Signal", size=size.small)
plotshape(sell_signal, location=location.top, color=color.red, style=shape.labeldown, title="SELL Signal", size=size.small)
// Plot Correlation Moving Average
plot(rsi_price_correlation, title="RSI-Price Correlation", color=color.orange, linewidth=2)
// Alerts for Buy/Sell
alertcondition(buy_signal, title="BUY Alert", message="RSI is below the Lower Limit - BUY Signal")
alertcondition(sell_signal, title="SELL Alert", message="RSI is above the Upper Limit - SELL Signal")
How to Use in TradingView:
1️⃣ Open TradingView and go to the Pine Editor
2️⃣ Paste the above Pine Script
3️⃣ Click Add to Chart
4️⃣ Adjust RSI Length and Correlation Period if needed
5️⃣ Buy/Sell alerts will trigger when conditions match
Trading Strategy:
📉 Sell (Short Entry) when RSI crosses above the upper limit
📈 Buy (Long Entry) when RSI drops below the lower limit
📊 Confirm trends with RSI-Price Correlation:
+1 means RSI and price are moving together
-1 means RSI and price are diverging
Final Notes:
Works best on higher timeframes (Daily, Weekly)
Helps filter overbought/oversold false signals
Can be combined with other indicators (MACD, Bollinger Bands, etc.)
VWAP+VWMA+EMABuilt an indicator to get current VWAP, previous day's closing VWAP and some moving averages
AMD Session Structure Levels# Market Structure & Manipulation Probability Indicator
## Overview
This advanced indicator is designed for traders who want a systematic approach to analyzing market structure, identifying manipulation, and assessing probability-based trade setups. It incorporates four core components:
### 1. Session Price Action Analysis
- Tracks **OHLC (Open, High, Low, Close)** within defined sessions.
- Implements a **dual tracking system**:
- **Official session levels** (fixed from the session open to close).
- **Real-time max/min tracking** to differentiate between temporary spikes and real price acceptance.
### 2. Market Manipulation Detection
- Identifies **manipulative price action** using the relationship between the open and close:
- If **price closes below open** → assumes **upward manipulation**, followed by **downward distribution**.
- If **price closes above open** → assumes **downward manipulation**, followed by **upward distribution**.
- Normalized using **ATR**, ensuring adaptability across different volatility conditions.
### 3. Probability Engine
- Tracks **historical wick ratios** to assess trend vs. reversal conditions.
- Calculates **conditional probabilities** for price moves.
- Uses a **special threshold system (0.45 and 0.03)** for reversal signals.
- Provides **real-time probability updates** to enhance trade decision-making.
### 4. Market Condition Classification
- Classifies market conditions using a **wick-to-body ratio**:
```pine
wick_to_body_ratio = open > close ? upper_wick / (high - low) : lower_wick / (high - low)
```
- **Low ratio (<0.25)** → Likely a **trend day**.
- **High ratio (>0.25)** → Likely a **range day**.
---
## Why This Indicator Stands Out
### ✅ Smarter Level Detection
- Uses **ATR-based dynamic levels** instead of static support/resistance.
- Differentiates **manipulation from distribution** for better decision-making.
- Updates probabilities **in real-time**.
### ✅ Memory-Efficient Design
- Implements **circular buffers** to maintain efficiency:
```pine
var float manipUp = array.new_float(lookbackPeriod, 0.0)
var float manipDown = array.new_float(lookbackPeriod, 0.0)
```
- Ensures **constant memory usage**, even over extended trading sessions.
### ✅ Advanced Probability Calculation
- Utilizes **conditional probabilities** instead of simple averages.
- Incorporates **market context** through wick analysis.
- Provides **actionable signals** via a probability table.
---
## Trading Strategy Guide
### **Best Entry Setups**
✅ Wait for **price to approach manipulation levels**.
✅ Confirm using the **probability table**.
✅ Check the **wick ratio for context**.
✅ Enter when **conditional probability aligns**.
### **Smart Exit Management**
✅ Use **distribution levels** as **profit targets**.
✅ Scale out **when probabilities shift**.
✅ Monitor **wick percentiles** for confirmation.
### **Risk Management**
✅ Size positions based on **probability readings**.
✅ Place stops at **manipulation levels**.
✅ Adjust position size based on **trend vs. range classification**.
---
## Configuration Tips
### **Session Settings**
```pine
sessionTime = input.session("0830-1500", "Session Hours")
weekDays = input.string("23456", "Active Days")
```
- Match these to your **primary trading session**.
- Adjust for different **market opens** if needed.
### **Analysis Parameters**
```pine
lookbackPeriod = input.int(50, "Lookback Period")
low_threshold = input.float(0.25, "Trend/Range Threshold")
```
- **50 periods** is a good starting point but can be optimized per instrument.
- The **0.25 threshold** is ideal for most markets but may need adjustments.
---
## Market Structure Breakdown
### **Trend/Continuation Days**
- **Characteristics:**
✅ Small **opposing wicks** (minimal counter-pressure).
✅ Clean, **directional price movement**.
- **Bullish Trend Day Example:**
✅ Small **lower wicks** (minimal downward pressure).
✅ Strong **closes near the highs** → **Buyers in control**.
- **Bearish Trend Day Example:**
✅ Small **upper wicks** (minimal upward pressure).
✅ Strong **closes near the lows** → **Sellers in control**.
### **Reversal Days**
- **Characteristics:**
✅ **Large opposing wicks** → Failed momentum in the initial direction.
- **Bullish Reversal Example:**
✅ **Large upper wick early**.
✅ **Strong close from the lows** → **Sellers failed to maintain control**.
- **Bearish Reversal Example:**
✅ **Large lower wick early**.
✅ **Weak close from the highs** → **Buyers failed to maintain control**.
---
## Summary
This indicator systematically quantifies market structure by measuring **manipulation, distribution, and probability-driven trade setups**. Unlike traditional indicators, it adapts dynamically using **ATR, historical probabilities, and real-time tracking** to offer a structured, data-driven approach to trading.
🚀 **Use this tool to enhance your decision-making and gain an objective edge in the market!**
Open InterestOpen Interest (OI) refers to the total number of outstanding derivative contracts, such as futures or options, that have not been settled. It represents the total number of active positions in a market that are yet to be closed or offset.
