Get started

Indicators and strategies

First 15-Min Candle Detector [With Breakout Alerts]Indicator: First 15-Minute Candle Detector Purpose This indicator helps traders by identifying and marking the high, low, and mid-point of the first 15-minute candle of the market session. It also provides visual aids and alerts for price breakouts above or below these levels, making it ideal for intraday trading strategies. This script is suitable for traders focusing on early session momentum or reversal strategies. Key Features Market Start Customization: Configure the market start time (hour and minute) to align with your trading session or exchange timezone. Visual Aids: Horizontal lines to mark the High , Low , and Mid-point of the first 15-minute candle. Background highlighting to identify the first 15-minute candle. Configurable colors and line widths for clear visuals. Breakout Alerts: Real-time alerts for breakouts above the high or below the low of the first 15-minute candle. Customizable alert messages. Alerts configured using alertcondition . Dynamic Adjustments: Adapts dynamically to timeframes of 15 minutes or lower. Resets and recalculates at the start of each new session. Inputs and Configurations Market Settings: Market Start Hour: Default is 9. Market Start Minute: Default is 30. Visual Settings: Enable/disable background highlighting. Set colors for the background, high line, low line, and mid-line. Adjust line width (1 to 5). Toggle the visibility of the mid-line. Alert Settings: Enable breakout alerts. Set custom alert messages for high and low breakouts. How It Works // First 15-Minute Candle Detection The indicator monitors the first 15-minute candle after the market opens based on the configured start time. It records the high , low , and calculates the mid-point of this candle. // Visual Markings Horizontal lines are drawn at the high, low, and mid-point of the first 15-minute candle, extending to the right for the rest of the session. // Breakout Detection The indicator checks for price breakouts above the high or below the low of the first 15-minute candle and triggers alerts if enabled. // Dynamic Reset The indicator resets values and deletes previous session lines at the start of each new session. Conditions and Alerts Breakout Conditions: High Breakout: The closing price exceeds the high of the first 15-minute candle. Low Breakout: The closing price falls below the low of the first 15-minute candle. Alert Triggers: Configurable alerts notify you of breakouts in real-time. Use Cases Intraday Traders: Ideal for early-session momentum or reversal strategies. Breakout Traders: Helps identify entry points when price breaks key levels. Visual Clarity: Simplifies tracking important session levels. Limitations Works only on 15-minute or lower timeframes. Requires accurate market start time configuration.
Pine Script™ indicator
by jzucchetto
Advanced Pattern Detector**Script Overview** **Indicator Name:** Advanced Pattern Detector **Pine Script Version:** v5 **Indicator Type:** Overlaid on the chart (overlay=true) **Main Features:** - Detection and visualization of various technical patterns. - Generation of BUY and SELL signals based on detected patterns. - Display of Fibonacci levels to identify potential support and resistance levels. - Ability to enable or disable each pattern through the indicator settings. --- **Indicator Settings** **Switches to Enable/Disable Patterns** At the top of the indicator, there are parameters that allow the user to select which patterns will be displayed on the chart: - Three Drives - Rounding Top - Rounding Bottom - ZigZag Pattern - Inverse Head and Shoulders - Fibonacci Retracement **Parameters for ZigZag** Settings are also available for the ZigZag pattern, such as the depth of peak and trough detection, allowing the user to adjust the indicator's sensitivity to price changes. --- **Pattern Detection** Each pattern is implemented with its own logic, which checks specific conditions on the current bar (candle). Below are the main patterns: 1. **Three Drives** - **Description:** This pattern consists of three consecutive price movements in one direction (up or down). It can signal the continuation of the current trend or its reversal. - **How It Works:** - **Upward Drive:** The indicator checks that the closing price of each subsequent candle is higher than the previous one for three bars. - **Downward Drive:** The indicator checks that the closing price of each subsequent candle is lower than the previous one for three bars. 2. **Rounding Top** - **Description:** A pattern representing a smooth decrease in maximum prices over several bars, which may indicate a potential downward trend reversal. - **How It Works:** - The indicator checks that the maximum prices of the last five bars are gradually decreasing, and the current bar shows a decrease in the maximum price. 3. **Rounding Bottom** - **Description:** A pattern characterized by a smooth increase in minimum prices over several bars, signaling a possible upward trend reversal. - **How It Works:** - The indicator checks that the minimum prices of the last five bars are gradually increasing, and the current bar shows an increase in the minimum price. 4. **ZigZag Pattern** - **Description:** Used to identify corrective movements on the chart. The pattern shows peak and trough points connected by lines, helping to visualize the main price movement. - **How It Works:** - The indicator uses a function to determine local maxima and minima based on the specified depth. - Detected peaks and troughs are connected by lines to create a visual zigzag structure. 5. **Inverse Head and Shoulders** - **Description:** An inverted head and shoulders formation signals a possible reversal of a downward trend to an upward one. - **How It Works:** - The indicator looks for three local minima: the left shoulder, the head (the lowest minimum), and the right shoulder. - It checks that the left and right shoulders are approximately at the same level and below the head. 6. **Fibonacci Retracement Levels** - **Description:** Automatically builds key Fibonacci levels based on the maximum and minimum prices over the last 50 bars. These levels are often used as potential support and resistance levels. - **How It Works:** - Daily, the minimum and maximum prices over the last 50 bars are calculated. - Based on these values, Fibonacci levels are drawn: 100%, 23.6%, 38.2%, 50%, 61.8%, and 0%. - Old levels are removed when a new day begins to keep the chart clean and up-to-date. --- **Generation of Buy and Sell Signals** The indicator combines the results of detected patterns to generate trading signals: - **Buy Signals (BUY):** - Rounding Bottom - Three Drives Up - Inverse Head and Shoulders - ZigZag Low - **Sell Signals (SELL):** - Rounding Top - Three Drives Down - Inverse Head and Shoulders - ZigZag High **How It Works:** - If one or more buy conditions are met, a "BUY" label is displayed below the corresponding bar on the chart. - If one or more sell conditions are met, a "SELL" label is displayed above the corresponding bar on the chart. --- **Visualization of Patterns on the Chart** Each detected pattern is visualized using various graphical elements, allowing traders to easily identify them on the chart: - **Three Drives Up:** Green upward triangle below the bar. - **Three Drives Down:** Red downward triangle above the bar. - **Rounding Top:** Orange "RT" label above the bar. - **Rounding Bottom:** Blue "RB" label below the bar. - **Inverse Head and Shoulders:** Turquoise "iH&S" label below the bar. - **ZigZag High/Low:** Purple circles at the peaks and troughs of the zigzag. --- **Displaying Fibonacci Levels** Fibonacci levels are displayed as horizontal lines on the chart with corresponding labels. These levels help traders determine potential entry and exit points, as well as support and resistance levels. --- **Drawing ZigZag Lines** ZigZag lines connect the detected peaks and troughs, visualizing corrective movements. To avoid cluttering the chart, the number of lines is limited, and old lines are automatically removed as new ones are added.
Pine Script™ indicator
by Kentuss
Day Pattern IndicatorDay Pattern Indicator The Day Pattern Indicator is designed to help traders analyze daily trends and patterns in their selected markets. This tool highlights specific days of the week on the chart with unique, semi-transparent colored bars. Each day is customizable, allowing users to toggle the visibility of Monday through Sunday to focus on days most relevant to their trading strategy. Ideal for identifying potential patterns in cryptocurrency, forex, or stock markets, the indicator is perfect for traders seeking insights into weekday or weekend market behavior. Simple, effective, and visually intuitive!
Pine Script™ indicator
by kemalcox
Dual Strategy Selector V2 - CryptogyaniOverview: This script provides traders with a dual-strategy system that they can toggle between using a simple dropdown menu in the input settings. It is designed to cater to different trading styles and needs, offering both simplicity and advanced filtering techniques. The strategies are built around moving average crossovers, enhanced by configurable risk management tools like take profit levels, trailing stops, and ATR-based stop-loss. Key Features: Two Strategies in One Script: Strategy 1: A classic moving average crossover strategy for identifying entry signals based on trend reversals. Includes user-defined take profit and trailing stop-loss options for profit locking. Strategy 2: An advanced trend-following system that incorporates: A higher timeframe trend filter to confirm entry signals. ATR-based stop-loss for dynamic risk management. Configurable partial take profit to secure gains while letting the trade run. Highly Customizable: All key parameters such as SMA lengths, take profit levels, ATR multiplier, and timeframe for the trend filter are adjustable via the input settings. Dynamic Toggle: Traders can switch between Strategy 1 and Strategy 2 with a single dropdown, allowing them to adapt the strategy to market conditions. How It Works: Strategy 1: Entry Logic: A long trade is triggered when the fast SMA crosses above the slow SMA. Exit Logic: The trade exits at either a user-defined take profit level (percentage or pips) or via an optional trailing stop that dynamically adjusts based on price movement. Strategy 2: Entry Logic: Builds on the SMA crossover logic but adds a higher timeframe trend filter to align trades with the broader market direction. Risk Management: ATR-Based Stop-Loss: Protects against adverse moves with a volatility-adjusted stop-loss. Partial Take Profit: Allows traders to secure a percentage of gains while keeping some exposure for extended trends. How to Use: Select Your Strategy: Use the dropdown in the input settings to choose Strategy 1 or Strategy 2. Configure Parameters: Adjust SMA lengths, take profit, and risk management settings to align with your trading style. For Strategy 2, specify the higher timeframe for trend filtering. Deploy and Monitor: Apply the script to your preferred asset and timeframe. Use the backtest results to fine-tune settings for optimal performance. Why Choose This Script?: This script stands out due to its dual-strategy flexibility and enhanced features: For beginners: Strategy 1 provides a simple yet effective trend-following system with minimal setup. For advanced traders: Strategy 2 includes powerful tools like trend filters and ATR-based stop-loss, making it ideal for challenging market conditions. By combining simplicity with advanced features, this script offers something for everyone while maintaining full transparency and user customization. Default Settings: Strategy 1: Fast SMA: 21, Slow SMA: 49 Take Profit: 7% or 50 pips Trailing Stop: Optional (disabled by default) Strategy 2: Fast SMA: 20, Slow SMA: 50 ATR Multiplier: 1.5 Partial Take Profit: 50% Higher Timeframe: 1 Day (1D)
Pine Script™ strategy
by shaashish1
FVG - NibzDescription: Fair Value Gap (FVG) Indicator - Nibz This Pine Script identifies and visualizes Fair Value Gaps (FVGs) on your TradingView chart. FVGs are price inefficiencies left behind when the market moves too quickly, skipping price levels that might not be tested. These gaps often act as magnets, attracting price for potential reversals or continuations. The script works by detecting upward (bullish) and downward (bearish) price imbalances based on specific candlestick criteria and then marks these zones on your chart using customizable shaded boxes. This tool is essential for traders looking to identify key areas of market inefficiency that could signify support/resistance levels, potential reversal zones, or areas to monitor for market rebalancing. How It Works 1. Bullish FVG Detection The script identifies an upward imbalance when: The low of the candlestick two bars back is less than or equal to the open of the previous bar. The high of the current candlestick is greater than or equal to the close of the previous bar. When this condition is met and the size of the imbalance is greater than zero, a green box is drawn from the low of the second candlestick back to the high of the current candlestick. 2. Bearish FVG Detection The script identifies a downward imbalance when: The high of the candlestick two bars back is greater than or equal to the open of the previous bar. The low of the current candlestick is less than or equal to the close of the previous bar. When this condition is met and the size of the imbalance is greater than zero, a red box is drawn from the low of the current candlestick to the high of the second candlestick back. Customization Options This script is highly customizable, allowing you to tailor the appearance of the FVG boxes to suit your trading style and chart aesthetics: Bullish FVG: Fill color and transparency. Border color and transparency. Bearish FVG: Fill color and transparency. Border color and transparency. The settings are user-friendly, with intuitive sliders for transparency and color pickers for customization. How to Use the Indicator Adding the Script: Add the indicator to your chart, and it will automatically mark bullish (green) and bearish (red) FVGs. Interpreting FVGs: Bullish FVGs (green zones): These often act as support or areas of potential price rebalancing on retracement. Bearish FVGs (red zones): These often act as resistance or areas of interest for short entries. Trade Ideas: Use FVG zones to confirm other trade signals or strategies. Watch for price interaction with these zones to time entries and exits. Key Features Automated detection of Fair Value Gaps. Customizable visual representation to match your chart preferences. Enhances trading precision by identifying price inefficiencies. Suitable for scalping, day trading, or swing trading strategies. This script provides a powerful tool to highlight important price levels and inefficiencies in the market, enabling traders to make informed decisions. Whether you're using it as a standalone indicator or combining it with other tools, the 'FVG - Nibz' indicator is a valuable addition to any trader's toolkit!
Pine Script™ indicator
by nibzomatic
SMA50 Indicator with Visual Entry1. Indicator Setup: The script starts by defining the indicator with overlay=true, meaning it will be plotted on the price chart. 2. Input Parameter: smaLength is an input parameter that allows you to set the length of the Simple Moving Average (SMA). It’s set to 50 by default. 3. Calculate SMA50: sma50 is calculated using the ta.sma function, which computes the 50-period SMA of the closing prices. 4. Plot SMA50: The SMA50 is plotted on the chart in blue. 5. Entry Conditions for Buy: Several conditions are checked to determine if a buy signal should be generated: The current candle’s close is above the SMA50. The previous candle was red (close < open). The current candle is green (close > open). The current low is below the previous low. The current close is within the range of the previous candle’s high and low. 6. Entry Conditions for Sell: Similarly, conditions for a sell signal are checked: The current candle’s close is below the SMA50. The previous candle was green (close > open). The current candle is red (close < open). The current high is above the previous high. The current close is within the range of the previous candle’s high and low. 7. Plot Entry Signals: If the buy conditions are met, a green triangle labeled “Buy” is plotted at the low of the current bar. If the sell conditions are met, a red triangle labeled “Sell” is plotted at the high of the current bar. 8. Debugging: Background colors are used to highlight when buy or sell conditions are met, making it easier to visually debug the script. This script helps you identify potential buy and sell opportunities based on the relationship between the price and the SMA50, along with specific candlestick patterns.
Pine Script™ indicator
by aleekimia87
Eze Profit - VWAP + MACD Combined SignalThe Eze Profit - VWAP + MACD Combined Signal is an advanced trading tool designed to help traders align price trends with momentum confirmation for better decision-making. By combining Volume-Weighted Average Price (VWAP) and Moving Average Convergence Divergence (MACD), this indicator provides clear entry and exit signals, allowing traders to follow trends and take advantage of momentum shifts. How It Works: VWAP: VWAP represents the average price of an asset, weighted by volume, over a specific period. It acts as a dynamic support/resistance level and trend filter. Price above VWAP indicates bullish conditions, while price below VWAP suggests bearish conditions. MACD: MACD measures momentum through the difference between fast and slow exponential moving averages (EMAs). Signals are generated when the MACD line crosses its signal line: Bullish Crossover: Indicates increasing upward momentum. Bearish Crossunder: Indicates increasing downward momentum. Combined Logic: Long Signal: Triggered when price is above VWAP, and MACD exhibits a bullish crossover. Short Signal: Triggered when price is below VWAP, and MACD exhibits a bearish crossunder. The script tracks the trader's "in-position" state to prevent redundant signals and ensure clarity. How to Use: Use this script to identify potential long and short trading opportunities: Buy Signal: Enter a long position when the price moves above VWAP and MACD confirms bullish momentum. Sell Signal: Exit or short when the price drops below VWAP and MACD confirms bearish momentum. Combine with additional tools like support/resistance, volume analysis, or candlestick patterns for confirmation. Features: VWAP Trend Filter: Dynamically adjusts to the trading session to identify overall trend direction. MACD Momentum Confirmation: Detects key momentum shifts with configurable settings for fast, slow, and signal lengths. Position State Tracking: Avoids signal redundancy by monitoring open positions. Buy/Sell Visualizations: Plots Buy/Sell signals directly on the chart for ease of use. Alerts: Notifies traders in real-time when a long or short signal is triggered. Customizable Settings: MACD Fast Length, Slow Length, and Signal Smoothing parameters. VWAP timeframe resolution to adapt to different trading styles (e.g., intraday or daily). Credits: This script is based on standard VWAP and MACD calculations provided by TradingView’s library and has been enhanced with unique logic for combined signal generation. Notes: This indicator is intended for educational purposes and should not be considered financial advice. Use it as part of a broader trading strategy alongside other tools for optimal results.
Pine Script™ indicator
by ikeigwe1
Top-Down Analysis previous day Top-Down Analysis 2nd Candle with Enhanced Features This powerful TradingView script is designed for traders looking for a comprehensive and customizable top-down analysis tool. The indicator plots horizontal lines based on significant price levels from multiple timeframes (Daily, 4-Hour, 1-Hour, and Weekly), offering clear reference points for technical analysis. Each timeframe is associated with high and low levels from the previous candle, and these levels are represented with customizable line styles, colors, and widths. Key Features: Multi-Timeframe Support: Displays high and low levels from the previous candle for the Daily, 4-Hour, 1-Hour, and Weekly timeframes. Customize which timeframes to show. Customizable Line Appearance: Choose the line color, style (solid, dotted, dashed), and width for each timeframe. This allows for a personalized chart appearance to suit your trading strategy. Text Labels: Add custom text labels to each line, and move them dynamically to the right, keeping them visible as the candles progress. The labels can be customized with user-defined text for each timeframe’s high and low levels. Toggle Line Visibility: Easily control the visibility of the horizontal lines and their labels for each timeframe, allowing you to focus on the levels that matter most. Price Alerts: Set price alerts when the price crosses any of the plotted levels, including the Daily, 4-Hour, 1-Hour, and Weekly levels. Receive notifications when significant price interactions occur. User Control: With inputs for changing timeframes, colors, labels, and more, this indicator is fully customizable to fit your trading style. This indicator is ideal for day traders, swing traders, and anyone utilizing multi-timeframe analysis for more informed decision-making.
Pine Script™ indicator
by cesar7olvera
RS Theory IndicatorHow to Use: Customize the Reference Symbol: In the settings of the indicator, you can change the referenceSymbol to the benchmark or asset you want to compare against. RS Interpretation: RS > 1: The current asset is outperforming the reference symbol. RS < 1: The current asset is underperforming the reference symbol. RS = 1: The current asset and the reference symbol are performing equally. Alerts: You can enable alerts for when the RS crosses certain levels (e.g., when RS > 1 or RS < 1). How It Works: Reference Symbol: The user inputs the benchmark asset or symbol (e.g., "SPY" for an S&P 500 ETF). This will be used as the comparison symbol. RS Calculation: The RS Value is calculated by dividing the current asset's close price by the reference asset's close price: RS = Close Price of Current Asset Close Price of Reference Asset RS= Close Price of Reference Asset Close Price of Current Asset ​ Plotting: The RS value is plotted on the chart as a line. A horizontal line at RS = 1 is drawn for easy comparison, representing parity (when the asset and reference symbol have the same price). Background Coloring: The background is colored: Green when RS > 1 (indicating the asset is outperforming the benchmark). Red when RS < 1 (indicating the asset is underperforming the benchmark). Alerts: Alerts are triggered when the RS value is above or below 1, indicating outperformance or underperformance relative to the benchmark.
Pine Script™ indicator
by aliashif
Truly Iterative Gaussian ChannelOVERVIEW The Truly Iterative Gaussian Channel is a robust channeling system that integrates a Gaussian smoothing kernel with a rolling standard deviation to create dynamically adaptive upper and lower boundaries around price. This indicator provides a smooth, yet responsive representation of price movements while minimizing lag and dynamically adjusting channel width to reflect real-time market volatility. Its versatility makes it effective across various timeframes and trading styles, offering significant potential for experimentation and integration into advanced trading systems. TRADING USES The Gaussian indicator can be used for multiple trading strategies. Trend following relies on the middle Gaussian line to gauge trend direction: prices above this line indicate bullish momentum, while prices below signal bearish momentum. The upper and lower boundaries act as dynamic support and resistance levels, offering breakout or pullback entry opportunities. Mean reversion focuses on identifying reversal setups when price approaches or breaches the outer boundaries, aiming for a return to the Gaussian centerline. Volatility filtering helps assess market conditions, with narrow channels indicating low volatility or consolidation and suggesting fewer trading opportunities or an impending breakout. Adaptive risk management uses channel width to adjust for market volatility, with wider channels signaling higher risk and tighter channels indicating lower volatility and potentially safer entry points. THEORY Gaussian kernel smoothing, derived from the Gaussian normal distribution, is a cornerstone of probability and statistics, valued for its ability to reduce noise while preserving critical signal features. In this indicator, it ensures price movements are smoothed with precision, minimizing distortion while maintaining responsiveness to market dynamics. The rolling standard deviation complements this by dynamically measuring price dispersion from the mean, enabling the channel to adapt in real time to changing market conditions. This combination leverages the mathematical correctness of both tools to balance smoothness and adaptability. An iterative framework processes data efficiently, bar by bar, without recalculating historical value to ensure reliability and preventing repainting to create a mathematically grounded channel system suitable for a wide range of market environments. The Gaussian channel excels at filtering noise while remaining responsive to price action, providing traders with a dependable tool for identifying trends, reversals, and volatility shifts with consistency and precision. CALIBRATION Calibration of the Gaussian channel involves adjusting its length to modify sensitivity and adaptability based on trading style. Shorter lengths (e.g., 50-100) are ideal for intraday traders seeking quick responses to price fluctuations. Medium lengths (e.g., 150-200) cater to swing traders aiming to capture broader market trends. Longer lengths (e.g., 250-400+) are better suited for positional traders focusing on long-term price movements and stability. MARKET USAGE Stock, Forex, Crypto, Commodities, and Indices.
Pine Script™ indicator
by SensitiveSuit
16. SMC Strategy with SL - low TimeframeOverview The "SMC Strategy with SL - low Timeframe" is a comprehensive trading strategy that uses key concepts from Smart Money Theory to identify favorable areas in the market for buying or selling. This strategy takes advantage of price imbalances, support and resistance zones, and swing highs/lows to generate high-probability trade signals. The key features of this strategy include: Swing High/Low Analysis: Used to determine the Premium, Equilibrium, and Discount Zones. Order Block Integration: An added layer of confluence to identify valid buy and sell signals. Trend Direction Confirmation: Using a Simple Moving Average (SMA) to determine the overall trend. Entry and Exit Rules: Based on price position relative to key zones and moving average, along with optional stop-loss and take-profit levels. Detailed Description Swing High and Swing Low Analysis The script calculates Swing High and Swing Low based on the most recent price highs and lows over a specified look-back period (swingHighLength and swingLowLength, set to 8 by default). It then derives the Premium, Equilibrium, and Discount Zones: Premium Zone: Represents potential resistance, calculated based on recent swing highs. Discount Zone: Represents potential support, calculated based on recent swing lows. Equilibrium: The midpoint between Swing High and Swing Low, dividing the price range into Premium (above equilibrium) and Discount (below equilibrium) areas. Zone Visualization The strategy plots the Premium Zone (resistance) in red, the Discount Zone (support) in green, and the Equilibrium level in blue on the chart. This helps visually assess the current price relative to these important areas. Simple Moving Average (SMA) A 50-period Simple Moving Average (SMA) is added to help identify the trend direction. Buy signals are valid only if the price is above the SMA, indicating an uptrend. Sell signals are valid only if the price is below the SMA, indicating a downtrend. Entry Rules The script generates buy or sell signals when certain conditions are met: A buy signal is triggered when: Price is below the Equilibrium and within the Discount Zone. Price is above the SMA. The buy signal is further confirmed by the presence of an Order Block (recent lowest price area). A sell signal is triggered when: Price is above the Equilibrium and within the Premium Zone. Price is below the SMA. The sell signal is further confirmed by the presence of an Order Block (recent highest price area). Order Block The strategy defines Order Blocks as recent highs and lows within a look-back period (orderBlockLength set to 20 by default). These blocks represent areas where large players (smart money) have historically been active, increasing the probability of the price reacting in these areas again. Trade Management and Trade Direction The user can set Trade Direction to either "Long Only," "Short Only," or "Both." This allows the strategy to adapt based on market conditions or trading preferences. Based on the Trade Direction, the strategy either: Closes open trades that are against new signals. Allows only specific directional trades (either long or short). Stop-loss levels are defined based on a fixed percentage (stop_loss_percent), which helps to manage risk and minimize losses. Exit Rules The strategy uses stop-loss levels for risk management. A stop-loss price is set at a fixed percentage below the entry price for long positions or above the entry price for short positions. When the price hits the defined stop-loss level, the trade is closed. Liquidity Zones The script identifies recent Swing Highs and Lows as potential liquidity zones. These are levels where price could react strongly, as they represent areas of interest for large traders. The liquidity zones are plotted as crosses on the chart, marking areas where price may encounter significant buying or selling pressure. Visual Feedback The script uses visual markers (green for buy signals and red for sell signals) to indicate potential entries on the chart. It also plots liquidity zones to help traders identify areas where stop hunts and liquidity grabs might occur. Monthly Performance Dashboard The script includes a performance tracking feature that displays monthly profit and loss metrics on the chart. This dashboard allows the trader to see a visual representation of trading performance over time, providing insights into profitability and consistency. The table shows profit or loss for each month and year, allowing the user to track the overall success of the strategy. Key Benefits Smart Money Concepts (SMC): This strategy incorporates SMC principles like order blocks and liquidity zones, which are used by institutional traders to determine potential market moves. Zone Analysis: The use of Premium, Discount, and Equilibrium zones provides a solid framework for determining where to enter and exit trades based on price discounts or premiums. Confluence: Signals are not taken in isolation. They are confirmed by factors like trend direction (SMA) and order blocks, providing greater trade accuracy. Risk Management: By integrating stop-loss functionality, traders can manage their risks effectively. Visual Performance Metrics: The monthly and yearly performance dashboard gives valuable feedback on how well the strategy has performed historically. Practical Use Buy in Discount Zone: Traders would be looking to buy when the price is discounted relative to its recent range and is above the SMA, indicating an overall uptrend. Sell in Premium Zone: Conversely, traders would be looking to sell when the price is at a premium relative to its recent range and below the SMA, indicating an overall downtrend. Order Block Confirmation: Ensures that buying or selling is supported by historical price behavior at significant levels, providing confidence that the market is likely to react at these areas. This strategy is designed to help traders take advantage of price inefficiencies and areas where institutional traders are likely to be active, increasing the odds of successful trades. By leveraging Smart Money concepts and strong technical confluence, it aims to provide high-probability trade setups.
Pine Script™ strategy
by Free990
Candle Pair Markerin a 5 minute time frame the identify two consecutive candles where the body of the first candle should be in side the high and low of the second candle and the body of the second candle should be inside the high and low of the first candle. draw a dotted line to mark the highiest high and lowest low of the couple candle. and calculate the difference between the two highest high and the lowest low and devide it by 2 and add this value to the highest high and subtract from the lowest low. and draw a green line on the high value and red line for the low value
Pine Script™ indicator
by jaidasputhanveetil777
Price Time Filtering Bar CountThis script is designed to identify and visualize market trends by analyzing price action over a specified aggregation period. Detailed breakdown of its functionality: Trend Identification Uptrend Detection: An uptrend is signaled when the closing price of the previous bar is higher than the high price from two bars ago. Downtrend Detection: A downtrend is indicated when the closing price of the previous bar is lower than the low price from two bars ago. Trend Continuation: If neither condition is met, the current trend continues from the previous bar. Trend Counting Counter Initialization: A counter (count) keeps track of the number of consecutive bars in the current trend. Counter Reset: When a new trend is detected (change from uptrend to downtrend or vice versa), the counter resets to 1. Counter Increment: If the trend continues, the counter increments by 1 for each new bar in the same trend. Visualization BarCount Plot: The BarCount variable represents the current count of trend bars. Positive Values: Indicate the number of bars in an uptrend. Negative Values: Indicate the number of bars in a downtrend. Zero or na: Represents no clear trend or initialization phase. Histogram Style: The BarCount is plotted as a histogram, providing a visual representation of trend strength and duration. Color Coding Uptrend Color: Bars and histogram columns are colored teal (or the color assigned to UptrendColor) when in an uptrend. Downtrend Color: Bars and histogram columns are colored orange (or the color assigned to DowntrendColor) when in a downtrend. Customizable Coloring: The paintBars input allows users to enable or disable the coloring of price bars according to the current trend. Aggregation Period User Input: The aggregationPeriod input lets users specify a timeframe for the indicator's calculations. If left empty, the indicator uses the chart's current timeframe. Data Fetching: The indicator retrieves close, high, and low prices based on the specified aggregation period using the request.security function. How It Works Together Data Retrieval: The indicator fetches the necessary price data (secAggClose, secAggHigh, secAggLow) based on the chosen timeframe. Trend Calculation: It compares the previous closing price to the high and low prices from two bars ago to determine the current trend. Trend Counting: The counter tracks how many consecutive bars the market has been in the current trend. Visualization and Coloring: The BarCount is plotted as a histogram, with colors indicating the trend direction. Optionally, the price bars on the chart are colored to match the trend for easier visualization. Practical Use Cases Trend Strength Assessment: Traders can gauge the strength of a trend by observing the magnitude of the BarCount. A higher absolute value indicates a stronger, more prolonged trend. Trend Reversals: A reset in the counter (switch from positive to negative or vice versa) can signal a potential trend reversal, providing entry or exit points. Momentum Trading: By visualizing the duration of trends, momentum traders can identify optimal times to join a prevailing trend or anticipate its exhaustion. Customization Options Enable/Disable Bar Coloring: Users can toggle the paintBars option to switch between a clean price chart and one that highlights trends with color. Aggregation Period Adjustment: Adjusting the aggregationPeriod allows analysis over different timeframes without changing the chart's main settings, offering flexibility in strategy development. Conclusion This indicator serves as a powerful tool for trend analysis by: Quantifying Trend Duration: Helps understand how long a trend has persisted. Visual Trend Representation: Offers immediate visual cues through histogram bars and color-coded price bars. Flexible Configuration: Provides options to customize the timeframe and visual aspects to suit individual trading styles. By integrating this indicator into your trading strategy, you can enhance your ability to identify trend patterns, assess their strength, and make more informed trading decisions based on trend dynamics.
Pine Script™ indicator
by DinoTradez
CPR with EMAs, SMAs, and SupertrendCPR with EMAs, SMAs, and Supertrend This script combines several popular technical indicators to assist traders in analyzing market trends and key levels. It calculates and displays the Central Pivot Range (CPR) with key support and resistance levels, as well as the Supertrend for trend identification. Features: 1. Central Pivot Range (CPR) 2. The Bottom Central Pivot (BC) 3. The Top Central Pivot (TC) The script also plots key resistance and support levels (R1, S1, R2, S2, R3, S3, R4, S4), helping identify potential price zones for trading. Exponential Moving Averages (EMAs): EMAs are plotted for periods of 8, 20, 50, 100, and 200 to identify trend direction and potential reversals. These EMAs help traders assess short-term and long-term trends and spot crossover signals. Simple Moving Averages (SMAs): SMAs are plotted for the same periods as the EMAs (8, 20, 50, 100, and 200), offering an alternative smoothing method for price action. Supertrend: The Supertrend Indicator is calculated using the ATR (Average True Range) with a customizable Factor and ATR Length. - The trend is displayed as green for an uptrend and red for a downtrend. - The Supertrend is filled between the price body middle and the trend line to help visualize the market's momentum. Alerts: The script includes alert conditions to notify you when the Supertrend switches from uptrend to downtrend or vice versa, allowing you to stay on top of market changes. This combined analysis tool is perfect for traders looking to monitor key price levels (CPR) alongside the trend direction (Supertrend) and moving averages for a comprehensive market view.
Pine Script™ indicator
by sanidhyaved