Jenkins Square Root Levels Square Root Levels with Fixed Spacing (Extended Lines)
This script calculates and displays horizontal levels based on the square root of a price point. It offers two calculation modes, Octave System and Square Root Multiples, allowing traders to identify key support and resistance levels derived from price harmonics.
The methodology is inspired by the teachings of Michael Jenkins, to whom I owe much gratitude for sharing his profound insights into the geometric principles of trading.
Features and Functions
1. Calculation Modes
Octave System:
Divides the square root range into specified steps, called "octave divisions."
Each division calculates levels proportionally or evenly spaced, depending on the selected spacing mode.
Multiple repetitions (or multiples) extend these levels upward, downward, or both.
Square Root Multiples:
Adds or subtracts multiples of the square root of the price point to create levels.
These multiples act as harmonics of the original square root, providing meaningful levels for price action.
2. Spacing Modes
Proportional: Levels are scaled proportionally with each multiple, resulting in increasing spacing as multiples grow.
Even: Levels are spaced equally, maintaining a consistent distance regardless of the multiple.
3. Direction
Up: Calculates levels above the price point only.
Down: Calculates levels below the price point only.
Both: Displays levels on both sides of the price point.
4. Customization Options
Price Point: Enter any key high, low, or other significant price point to anchor the calculations.
Octave Division: Adjust the number of divisions within the octave (e.g., 4 for quarter-steps, 8 for eighth-steps).
Number of Multiples: Set how far the levels should extend (e.g., 3 for 3 repetitions of the octave or square root multiples).
5. Visualization
The calculated levels are plotted as horizontal lines that extend across the chart.
Lines are sorted and plotted dynamically for clarity, with spacing adjusted according to the chosen parameters.
Acknowledgments
This script is based on the trading methodologies and geometric insights shared by Michael S. Jenkins. His work has profoundly influenced my understanding of price action and the role of harmonics in trading. Thank you, Michael Jenkins, for your invaluable teachings.
Pivot points and levels
Thrax - Pullback based short side scalping⯁ This indicator is built for short trades only.
⤞ Pullback based scalping is a strategy where a trader anticipates a pullback and makes a quick scalp in this pullback. This strategy usually works in a ranging market as probability of pullbacks occurrence in ranging market is quite high.
⤞ The strategy is built by first determining a possible candidate price levels having high chance of pullbacks. This is determined by finding out multiple rejection point and creating a zone around this price. A rejection is considered to be valid only if it comes to this zone after going down by a minimum pullback percentage. Once the price has gone down by this minimum pullback percentage multiple times and reaches the zone again chances of pullback goes high and an indication on chart for the same is given.
⯁ Inputs
⤞ Zone-Top : This input parameter determines the upper range for the price zone.
⤞ Zone bottom : This input parameter determines the lower range for price zone.
⤞ Minimum Pullback : This input parameter determines the minimum pullback percentage required for valid rejection. Below is the recommended settings
⤞ Lookback : lookback period before resetting all the variables
⬦Below is the recommended settings across timeframes
⤞ 15-min : lookback – 24, Pullback – 2, Zone Top Size %– 0.4, Zone Bottom Size % – 0.2
⤞ 5-min : lookback – 50, pullback – 1% - 1.5%, Zone Top Size %– 0.4, Zone Bottom Size % – 0.2
⤞ 1-min : lookback – 100, pullback – 1%, Zone Top Size %– 0.4, Zone Bottom Size % – 0.2
⤞ Anything > 30-min : lookback – 11, pullback – 3%, Zone Top Size %– 0.4, Zone Bottom Size % – 0.2
✵ This indicator gives early pullback detection which can be used in below ways
1. To take short trades in the pullback.
2. To use this to exit an existing position in the next few candles as pullback may be incoming.
📌 Kindly note, it’s not necessary that pullback will happen at the exact point given on the chart. Instead, the indictor gives you early signals for the pullback
⯁ Trade Steup
1. Wait for pullback signal to occur on the chart.
2. Once the pullback warning has been displayed on the chart, you can either straight away enter the short position or wait for next 2-4 candles for initial sign of actual pullback to occurrence.
3. Once you have initiated short trade, since this is pullback-based strategy, a quick scalp should be made and closed as price may resume it’s original direction. If you have risk appetite you can stay in the trade longer and trial the stops if price keeps pulling back.
4. You can zone top as your stop, usually zone top + some% should be used as stop where ‘some %’ is based on your risk appetite.
5. It’s important to note that this indicator gives early sings of pullback so you may actually wait for 2-3 candles post ‘Pullback warning’ occurs on the chart before entering short trade.
Leverage Aware Trade OptimizerWelcome to the Leverage-Aware Trade Optimizer (LATO)! I’m thrilled to have you exploring this dynamic algorithm! LATO combines advanced market oscillation tracking, leverage-aware trade optimization, and real-time market analysis to help you make smarter, more informed trading decisions. Whether you're just starting or you’re an experienced trader, LATO provides powerful tools and insights to enhance your strategies. LATO is here to support you in optimizing your trades with precision, so feel free to dive in and explore all the features. Let’s make your trading experience as effective and rewarding as possible. Safe trading!
Leverage-Aware Trade Optimizer (LATO)
Short Title: LATO
Category: Trading Tools / Technical Analysis
Overview
The Leverage-Aware Trade Optimizer (LATO) is a powerful algorithm designed to track and analyze market oscillations, identify reversal zones, and provide dynamic trading levels for optimal decision-making. With built-in risk management features, LATO enhances traders’ ability to make well-informed decisions based on a comprehensive range of market indicators, including price oscillations, probabilities, and leverage-related risks.
Key Features
Comprehensive Market Oscillation Tracking: LATO utilizes advanced indicators such as the Indexed Position Oscillator (IPO), Candle Relative Percentage (CRP), and Oscillating Range Indicator (ORI) to track price fluctuations and detect key market oscillations, providing a detailed view of price movements.
Dynamic Price Levels for Trading Decisions: The script calculates critical price levels such as WAP, WBP, XAP, and XBP. These weighted and expanded prices help identify potential support and resistance zones for accurate trade entries and exits.
Reversal Detection and Trend Identification: LATO is designed to recognize top and bottom reversal zones using user-defined thresholds (e.g., upper_reversal, lower_reversal). The algorithm signals potential trend changes with event markers such as UP, DOWN, UIP, and DIP, enabling traders to anticipate market reversals.
Risk and Leverage Mapping: By estimating liquidation levels for various leverage values (5x, 10x, 20x, etc.), LATO assists in risk management, helping traders visualize leverage exposure and optimize their trades according to risk tolerance.
Integrated Visualization and Event Labels: LATO enhances visual analysis by plotting key levels, trend lines, and event markers on the chart. Custom labels summarize critical values, including SOD (Sell Odds), BOD (Buy Odds), ORI (Oscillating Range Indicator), and PVI (Price Volatility Index), offering a quick, actionable summary for traders.
User Inputs
Orders Deviation (order_deviation): Controls the deviation for calculating trade levels.
Top Reversal (upper_reversal): Sets the threshold for the upper reversal zone.
Bottom Reversal (lower_reversal): Sets the threshold for the lower reversal zone.
How It Works
LATO tracks market oscillations through the Indexed Position Oscillator (IPO) and Candle Relative Percentage (CRP), dynamically adjusting as the market fluctuates. The algorithm then identifies key levels using weighted prices (e.g., WAP, WBP) and generates reversal signals based on defined thresholds.
Once the Leverage-Aware Trade Optimizer (LATO) is applied to a chart, it automatically calculates dynamic support and resistance levels and identifies potential buying or selling opportunities. The script also plots liquidation zones based on different leverage levels and visualizes these areas through color-coded lines.
Use Case Scenarios
Trend Reversal Detection: Identify when the market is likely to reverse based on the ORI and price action.
Dynamic Price Levels: Use the weighted price levels and trend lines to pinpoint entry/exit points.
Leverage Risk Management: Monitor liquidation levels and use them for managing risk while trading with leverage.
Oscillation Tracking: Track key oscillations for detecting overbought or oversold conditions.
Alert Setup for LATO
You can set up alerts based on the key conditions like UP, DOWN, UIP, and DIP, as well as specific market movements.
Down Trend Alert (DOWN): Alerts when there’s a downtrend, triggered by a crossover of WBP and BL5, with specific conditions for ORI and SOD.
Up Trend Alert (UP): Alerts when there’s an uptrend, triggered by a crossunder of WAP and SL5, with ORI below -0.5.
Upper Reversal Alert (UIP): Alerts when ORI crosses below the lower_reversal threshold.
Downward Reversal Alert (DIP): Alerts when ORI crosses above the upper_reversal threshold.
Conclusion
The Leverage-Aware Trade Optimizer (LATO) is a comprehensive trading tool designed for traders seeking to optimize their trade entries and exits. By combining multiple indicators, dynamic price levels, and reversal zone detection, LATO offers an advanced approach to market analysis and decision-making. Whether you’re trading with leverage or simply looking for trend confirmation, LATO provides the insights you need to maximize your trading potential.
Notes
This script is designed to be used on any time frame.
Adjust the order_deviation parameter based on the asset volatility you are trading.
The reversal thresholds (upper and lower) should be fine-tuned depending on market conditions.
First 5-Minute Premarket High/Low Break RetestDay trading method that uses the 5 minute candle high and low but trade on the 1 minute chart.
This is a break and retest trading strategy based on the market open 5 minute high and low candle.
Additional levels would be the premarket high and low plotted in blue on the chart. It's not uncommon for the 5 minute to be near the premarket high and low zone.
The break and restest of the 5 minute white lines either to the downside or upside. Once a hammer or long wick candle forms near or touching the retest of the 5 minute line that indicates an entry point.
It's best to have another confirmation for entry such as the 13 and 100 ema cross to confirm good position and risk.
This is a repetable and solid trading strategy. The indicator was created to plot on the 1 and 5 minute charts.
Daily/Weekly/Monthly LevelsDaily/Weekly/Monthly Levels
TLDR
Shows Daily/Weekly/Monthly reversal levels. These can act as support/resistance levels.
Can only see what's in your candle history. I.e. It won't see old monthlies on your 1m chart! Use Daily to see everything with the most history.
Can only see levels higher than or equal to your current time frame. I.e. it will not see daily levels if you're looking at a weekly chart.
Doesn't keep levels that have been closed through. Does keep levels that have been only wicked.
This indicator shows you daily, weekly and monthly horizontal reversal levels to save you the hassle of doing it yourself. It's a little aid to speed up your TA routine.
Usage Details and Limitations
All daily, weekly, and monthly levels will be marked with lines on the chart automatically. Levels will only be visible from that level's TF or lower, i.e. you can't see the daily levels from the weekly chart, but you can see all levels from daily or lower charts. No levels will be displayed if you select a time frame higher than 1 month.
New levels will not be drawn if they are very close to existing levels. You can change the 'closeness' threshold in settings. It is specified as a percentage move from the existing level.
However, higher TF levels will REPLACE lower TF levels if they are too close. If you set the 'closeness' setting to 0, all levels will be drawn.
Levels will only be drawn if they are in your displayed candle range! I.e. the lower you go in timeframe, the less history you can see, and so levels originating from further back might be missed!
One technique you might have is to load up the daily timeframe and use that to mark any nearby levels of interest.
How does it work?
Basically, it looks for reversal candles on the D/W/M Timeframes, and draws a line for you from the open of the reversal candle (of that TF), so long as you are on a TF equal or lower than that level.
New bars on that TF that close through that TF's old levels will clear that level. Wicks do not clear.
Each newly found level will not be drawn if it's within the percentage distance of an existing level of equal or higher time frame.
Each new level also checks for existing levels on lower TFs that it can replace. E.g. if a monthly bar closes and produces a monthly level equal to an existing daily or weekly level, that daily or weekly level will be replaced. Use the settings to specify your 'closeness' allowance.
Please remember, it can only see as far back as your candle history, so you won't see old monthlies on a 1 minute chart! Use the daily TF to see all three levels at once with maximum history.
Dynamic Support and Resistance Pivot Strategy The Dynamic Support and Resistance Pivot Strategy is a flexible and adaptive tool designed to identify short-term support and resistance levels using the concept of price pivots.
### Key Elements of the Strategy
1. Pivot points as support and resistance levels
Pivots are significant turning points on the price chart, often marking local highs and lows where the price has reversed direction. A pivot high occurs when the price forms a local peak, while a pivot low occurs when the price forms a local trough. When a new pivot high is formed, it creates a resistance level. Conversely, when a new pivot low is formed, it creates a support level.
The strategy continuously updates these levels as new pivots are detected, ensuring they remain relevant to the current market conditions. By identifying these price levels, the strategy dynamically adjusts to market conditions, allowing it to adapt to both trending and ranging markets, since it has a long target and can perform reversal operations.
2. Entry Criteria
- Buy (Long): A long position is triggered when the price is near the support level and then crosses it from below to above. This suggests that the price has found support and may start moving upwards.
- Sell (Short): A short position is triggered when the price is near the resistance level and then crosses it from above to below. This indicates that the price may be reversing and moving downward.
3. Support/Resistance distance (%)
- This parameter establishes a percentage range around the identified support and resistance level. For example, if the Support Resistance Distance is 0.4% (default), the closing price must be within a range of 0.4% above support or below the resistance to be considered "close" and trigger a trade.
4. Exit criteria
- Take profit = 27 %
- Stop loss = 10 %
- Reversal if a new entry point is identified in the opposite direction
5. No Repainting
- The Dynamic Support and Resistance Pivot Strategy is not subject to repainting.
6. Position Sizing by Equity and risk management
- This strategy has a default configuration to operate with 35% of the equity. The stop loss is set to 10% from the entry price. This way, the strategy is putting at risk about 10% of 35% of equity, that is, around 3.5% of equity for each trade. The percentage of equity and stop loss can be adjusted by the user according to their risk management.
7. Backtest results
- This strategy was subjected to backtest and operations in replay mode on **1000000MOGUSDT.P**, with the inclusion of transaction fees at 0.12% and slipagge of 5 ticks, and the past results have shown consistent profitability. Past results are no guarantee of future results. The strategy's backtest results may even be due to overfitting with past data.
8. Chart Visualization
- Support and resistance levels are displayed as green (support) and red (resistance) lines.
- Pivot prices are displayed as green (pivot low) and red (pivot high) labels.
In this image above, the Support/Resistance distance (%) parameter was set to 0.8.
9. Default Configuration
Chart Timeframe: 1h
Pivot Lengh: 2
Support/Resistance distance (%): 0.4*
Stop Loss: 10 %
Take Profit: 27 %
* This parameter can alternatively be set to 0.8.
10. Alternative Configuration
Chart Timeframe: 20 min
Pivot Lengh: 4
Support/Resistance distance (%): 0.1
Stop Loss: 10 %
Take Profit: 25 %
BYBIT:1000000MOGUSDT.P
Poisson Projection of Price Levels### **Poisson Projection of Price Levels**
**Overview:**
The *Poisson Projection of Price Levels* is a cutting-edge technical indicator designed to identify and visualize potential support and resistance levels based on historical price interactions. By leveraging the Poisson distribution, this tool dynamically adjusts the significance of each price level's past "touches" to project future interactions with varying degrees of probability. This probabilistic approach offers traders a nuanced view of where price levels may hold or react in upcoming bars, enhancing both analysis and trading strategies.
---
**🔍 **Math & Methodology**
1. **Strata Levels:**
- **Definition:** Strata are horizontal lines spaced evenly around the current closing price.
- **Calculation:**
\
where \(i\) ranges from 0 to \(\text{Strata Count} - 1\).
2. **Forecast Iterations:**
- **Structure:** The indicator projects five forecast iterations into the future, each spaced by a Fibonacci sequence of bars: 2, 3, 5, 8, and 13 bars ahead. This spacing is inspired by the Fibonacci sequence, which is prevalent in financial market analysis for identifying key levels.
- **Purpose:** Each iteration represents a distinct forecast point where the price may interact with the strata, allowing for a multi-step projection of potential price levels.
3. **Touch Counting:**
- **Definition:** A "touch" occurs when the closing price of a bar is within half the increment of a stratum level.
- **Process:** For each stratum and each forecast iteration, the indicator counts the number of touches within a specified lookback window (e.g., 80 bars), offset by the forecasted position. This ensures that each iteration's touch count is independent and contextually relevant to its forecast horizon.
- **Adjustment:** Each forecast iteration analyzes a unique segment of the lookback window, offset by its forecasted position to ensure independent probability calculations.
4. **Poisson Probability Calculation:**
- **Formula:**
\
\
- **Interpretation:** \(p(k=1)\) represents the probability of exactly one touch occurring within the lookback window for each stratum and iteration.
- **Application:** This probability is used to determine the transparency of each stratum line, where higher probabilities result in more opaque (less transparent) lines, indicating stronger historical significance.
5. **Transparency Mapping:**
- **Calculation:**
\
- **Purpose:** Maps the Poisson probability to a visual transparency level, enhancing the readability of significant strata levels.
- **Outcome:** Strata with higher probabilities (more historical touches) appear more opaque, while those with lower probabilities appear fainter.
---
**📊 **Comparability to Standard Techniques**
1. **Support and Resistance Levels:**
- **Traditional Approach:** Traders identify support and resistance based on historical price reversals, pivot points, or psychological price levels.
- **Poisson Projection:** Automates and quantifies this process by statistically analyzing the frequency of price interactions with specific levels, providing a probabilistic measure of significance.
2. **Statistical Modeling:**
- **Standard Models:** Techniques like Moving Averages, Bollinger Bands, or Fibonacci Retracements offer dynamic and rule-based levels but lack direct probabilistic interpretation.
- **Poisson Projection:** Introduces a discrete event probability framework, offering a unique blend of statistical rigor and visual clarity that complements traditional indicators.
3. **Event-Based Analysis:**
- **Financial Industry Practices:** Event studies and high-frequency trading models often use Poisson processes to model order arrivals or price jumps.
- **Indicator Application:** While not identical, the use of Poisson probabilities in this indicator draws inspiration from event-based modeling, applying it to the context of price level interactions.
---
**💡 **Strengths & Advantages**
1. **Innovative Visualization:**
- Combines statistical probability with traditional support/resistance visualization, offering a fresh perspective on price level significance.
2. **Dynamic Adaptability:**
- Parameters like strata increment, lookback window, and probability threshold are user-defined, allowing customization across different markets and timeframes.
3. **Independent Probability Calculations:**
- Each forecast iteration calculates its own Poisson probability, ensuring that projections are contextually relevant and independent of other iterations.
4. **Clear Visual Cues:**
- Transparency-based coloring intuitively highlights significant price levels, making it easier for traders to identify key areas of interest at a glance.
---
**⚠️ **Limitations & Considerations**
1. **Poisson Assumptions:**
- Assumes that touches occur independently and at a constant average rate (\(\lambda\)), which may not always align with market realities characterized by trends and volatility clustering.
2. **Computational Intensity:**
- Managing multiple iterations and strata can be resource-intensive, potentially affecting performance on lower-powered devices or with very high lookback windows.
3. **Interpretation Complexity:**
- While transparency offers visual clarity, understanding the underlying probability calculations requires a basic grasp of Poisson statistics, which may be a barrier for some traders.
---
**📢 **How to Use It**
1. **Add to TradingView:**
- Open TradingView and navigate to the Pine Script Editor.
- Paste the script above and click **Add to Chart**.
2. **Configure Inputs:**
- **Strata Increment:** Set the desired price step between strata (e.g., `0.1` for 10 cents).
- **Lookback Window:** Define how many past bars to consider for calculating Poisson probabilities (e.g., `80`).
- **Probability Transparency Threshold (%):** Set the threshold percentage to map probabilities to line transparency (e.g., `25%`).
3. **Understand the Forecast Iterations:**
- The indicator projects five forecast points into the future at bar spacings of 2, 3, 5, 8, and 13 bars ahead.
- Each iteration independently calculates its Poisson probability based on the touch counts within its specific lookback window offset by its forecasted position.
4. **Interpret the Visualization:**
- **Opaque Lines:** Indicate higher Poisson probabilities, suggesting historically significant price levels that are more likely to interact again.
- **Fainter Lines:** Represent lower probabilities, indicating less historically significant levels that may be less likely to interact.
- **Forecast Spacing:** The spacing of 2, 3, 5, 8, and 13 bars ahead aligns with Fibonacci principles, offering a natural progression in forecast horizons.
5. **Apply to Trading Strategies:**
- **Support/Resistance Identification:** Use the opaque lines as potential support and resistance levels for placing trades.
- **Entry and Exit Points:** Anticipate price interactions at forecasted levels to plan strategic entries and exits.
- **Risk Management:** Utilize the transparency mapping to determine where to place stop-loss and take-profit orders based on the probability of price interactions.
6. **Customize as Needed:**
- Adjust the **Strata Increment** to fit different price ranges or volatility levels.
- Modify the **Lookback Window** to capture more or fewer historical touches, adapting to different timeframes or market conditions.
- Tweak the **Probability Transparency Threshold** to control the sensitivity of transparency mapping to Poisson probabilities.
**📈 **Practical Applications**
1. **Identifying Key Levels:**
- Quickly visualize which price levels have historically had significant interactions, aiding in the identification of potential support and resistance zones.
2. **Forecasting Price Reactions:**
- Use the forecast iterations to anticipate where price may interact in the near future, assisting in planning entry and exit points.
3. **Risk Management:**
- Determine areas of high probability for price reversals or consolidations, enabling better placement of stop-loss and take-profit orders.
4. **Market Analysis:**
- Assess the strength of market levels over different forecast horizons, providing a multi-layered understanding of market structure.
---
**🔗 **Conclusion**
The *Poisson Projection of Price Levels* bridges the gap between statistical modeling and traditional technical analysis, offering traders a sophisticated tool to quantify and visualize the significance of price levels. By integrating Poisson probabilities with dynamic transparency mapping, this indicator provides a unique and insightful perspective on potential support and resistance zones, enhancing both analysis and trading strategies.
---
**📞 **Contact:**
For support or inquiries, please contact me on TradingView!
---
**📢 **Join the Conversation!**
Have questions, feedback, or suggestions for further enhancements? Feel free to comment below or reach out directly. Your input helps refine and evolve this tool to better serve the trading community.
---
**Happy Trading!** 🚀
Pivot Market StructureDescription and Features
This script is designed to enhance technical analysis by identifying key market structure levels. It uses a price action trail (based on the last highest/lowest price) and pivot points to track market trends, offering insights into potential reversal zones or trend continuation signals.
How the Script Works
High/Low Trail Logic: The script includes a trail mechanism that compares the current price with the last highest and lowest price, determining whether the price has breached these levels. This helps pinpoint key price action events and potential trend shifts. Unlike pivot points the price action trail is more responsive changes within the market structure.
Step Size and Length for High/Low Trail:
- The Step Length parameter defines how many bars are used to compare the current price against the last highest/lowest price, providing a measure of price extremes.
- The Length parameter determines the number of bars considered for calculating the highest/lowest price since the last price action event (either price surpassing a previous high or dipping below a previous low).
Pivot Point Calculation: Pivot Point Highs are calculated by the number of bars with lower highs on either side of a Pivot Point High calculation. Similarly, Pivot Point Lows are calculated by the number of bars with higher lows on either side of a Pivot Point Low calculation. The script draws a line from/to every calculated pivot point to highlight market structure extremes. It can optionally extend these pivot lines to the left for added context, providing historical reference for decision-making.
Summary
By combining both pivot analysis and price action trailing techniques, the script provides a comprehensive view of a pivot point based market structure.
Dow waveform analyzerDow Waveform Analyzer
1. Overview and Features of the Indicator
This indicator is a tool designed to analyze chart waveforms based on Dow Theory, identifying swing lows (support) and swing highs (resistance). It allows users to quickly and consistently determine trend direction. Compared to manual analysis, it provides more efficient and accurate results.
By using swing lows and swing highs, the indicator offers a more detailed understanding of trends than simple updates to highs and lows, aiding in the creation of effective trading strategies.
2. Identifying Wave Lows and Highs
Stock prices do not move in straight lines; instead, they rise and fall in waves. This indicator starts by identifying the wave lows and wave highs.
- Wave Low: The lowest point during a temporary price decline.
- Wave High: The highest point during a temporary price increase.
These are automatically identified using Pine Script’s built-in functions `pivotlow` and `pivothigh`.
3. Drawing the Waveform
The identified wave lows and highs are alternately connected to draw the waveform. However, there are cases where wave lows or highs occur consecutively:
- Consecutive Wave Lows: The lower low is used for drawing the waveform.
- Consecutive Wave Highs: The higher high is used for drawing the waveform.
4. Tracking Swing Lows/Highs and Trend Determination
Swing lows and swing highs are crucial markers that indicate the state of wave progression:
- Swing Low: The starting point of a wave (wave low) when the closing price exceeds the previous wave high.
- Swing High: The starting point of a wave (wave high) when the closing price falls below the previous wave low.
The changes in swing lows and swing highs as the waves progress allow for trend state determination.
5. Examples of Trend States
During an Uptrend:
- When the price surpasses a wave high, the swing low is updated, confirming the continuation of the uptrend.
End of an Uptrend:
- When the price falls below the swing low, the swing low disappears, and a swing high appears, signaling the end of the uptrend.
Sideways Movement:
- Swing lows and swing highs alternately appear, indicating a sideways trend.
Start of a Downtrend:
- When the price breaks below a wave low for the first time, the swing high is updated, confirming the start of the downtrend.
During a Downtrend:
- When the price breaks below a wave low, the swing high is updated, confirming the continuation of the downtrend.
End of a Downtrend:
- When the price surpasses a wave high, the swing high disappears, and a swing low reappears, signaling the end of the downtrend.
Restart of an Uptrend:
- When the swing low is updated, the uptrend resumes. The uptrend begins when the price surpasses a wave high, and the swing low is updated for the first time.
6. Applications
Trade Entries and Exits:
- Set stop orders for entry at the price level where a trend starts.
- Set stop orders for exit at the price level where a trend ends.
Trend Filtering:
- Use the indicator to confirm whether market conditions are suitable for entry based on the trend state. Analyze waveforms to aid trading strategies.
Guide for Drawing Trendlines:
- Utilize wave lows and highs as starting and ending points when drawing trendlines with drawing tools.
7. Parameters and Display Items
Pivot Points:
- Wave lows are marked with circles below the candlestick’s low, and wave highs are marked with circles above the candlestick’s high.
Number of Bars for Pivot Calculation:
- Specify the number of bars on either side used to identify highs (default: 2).
Waveform:
- Specify the color (default: blue) or toggle its visibility (default: visible).
Swing Lows/Highs:
- Displayed as large circles. The rightmost large circle on the chart indicates the current swing low or swing high. Historical swing points are also displayed to show the progression of state changes. Specify the color (default: green) or toggle visibility (default: visible).
1. インジケーターの概要と特徴
このインジケーターは、ダウ理論を基にチャートの波形を分析し、押し安値や戻り高値を特定するツールです。これにより、トレンドの方向を迅速かつ一貫して判断できます。手動での分析と比較して、効率的かつ精度の高い結果が得られる点が特徴です。
押し安値や戻り高値を利用することで、単純な高値・安値の更新よりも詳細にトレンドの状況を把握し、効果的な取引戦略の構築に役立ちます。
2. 波の谷と波の頂の特定
株価は直線的に動くのではなく、波を描きながら上昇や下落を繰り返します。このインジケーターは、まず波の谷と波の頂を特定するところから始まります。
波の谷: 一時的な下落の最安値
波の頂: 一時的な上昇の最高値
これらを Pine Script の内蔵関数（ピボットローとピボットハイ）を用いて自動的に特定しています。
3. 波形の描画方法
特定した波の谷と波の頂を交互に結んで波形を描画します。ただし、波の谷や頂が連続する場合があります。
波の谷が連続する場合: より低い谷を採用して波形を描く
波の頂が連続する場合: より高い頂を採用して波形を描く
4. 押し安値・戻り高値の追跡とトレンド判断
押し安値と戻り高値は、波の進行状況を示す重要な指標です。
押し安値: 終値が前回の高値を超えた際の波の谷
戻り高値: 終値が前回の安値を割り込んだ際の波の頂
波の進行に伴う押し安値・戻り高値の変化から、トレンドの状態を判断します。
5. トレンド状態の具体例
上昇トレンド中:
波の頂を株価が上抜け押し安値が更新され続けることで上昇トレンドを継続。
上昇トレンドの終了:
株価が押し安値を割ると、押し安値が消え、戻り高値が新たに出現して、上昇トレンドを終了。
横ばい状態:
押し安値と戻り高値が交互に切り替わる。
下降トレンドの開始:
波の谷を株価が下抜け戻り高値がはじめて更新されることで下降トレンド開始を確認。
下降トレンド中:
波の谷を株価が下抜け戻り高値が更新され続けることで下降トレンドを継続。
下降トレンドの終了:
株価が波の頂を超えると、戻り高値が消え、押し安値が再び出現して、下降トレンドを終了。
横ばい状態:
押し安値と戻り高値が交互に切り替わる。
上昇トレンドの再開:
押し安値が更新されることで上昇トレンドを確認。
波の頂を株価が上抜け押し安値がはじめて更新されることで上昇トレンド開始を確認。
6. 応用例
トレードのエントリーとエグジット:
トレンド発生の価格に逆指値を設定してエントリー。
トレンド終了の価格に逆指値を設定してエグジット。
トレンドフィルターとして活用:
エントリーに適したトレンド状況かを確認。波形を分析してトレード戦略の参考に。
トレンドラインを描く時の参考として活用:
波の谷と頂を描画ツールを使ってトレンドラインを描く時の起点や終点として活用。
7. パラメーターと表示項目
ピボット: 波の谷はローソク足の安値にサークルを表示、波の頂はローソク足の高値にサークルを表示。
ピボット計算用のバーの数: 高値を特定するために左右何本のローソク足を使用するかを設定（初期値: 2）。
波形: 色（初期値: 青）や表示（初期値: 表示）の指定。
押し安値・戻り高値: 大きなサークルで表示。チャートの一番右の大きなサークルが現在のもの。過去のものも状態変化の経緯を示すために表示。色（初期値: 緑）や表示（初期値: 表示）の指定。
Swing Points AlertSwing Points Alert with Adjustable Delay
Description:
This script is designed to detect and alert traders about significant swing highs and lows on the chart. The script is equipped with customizable pivot detection settings and an innovative **Alert Delay** mechanism, allowing users to fine-tune their notifications to reduce noise and focus on key price movements.
Key Features:
1. **Swing High/Low Detection:**
- Identifies swing highs and lows based on user-defined pivot length.
- Visualizes these points with customizable labels for clarity.
2. **Customizable Alerts:**
- Enables real-time alerts for swing highs and lows.
- Users can adjust the delay for alerts to avoid false signals during volatile periods.
3. **Dynamic Label Management:**
- Automatically manages the number of displayed swing point labels.
- Removes crossed or outdated labels based on user preferences.
4. **Flexible Label Styling:**
- Provides multiple label styles (e.g., triangles, circles, arrows) and color customization for both swing highs and lows.
How the Alert Delay Works:
The **Alert Delay** helps filter signals by introducing a delay before triggering alerts. The delay is calculated as follows:
**Alert Delay (%) x Time Frame = Alert Delay in Time Frame Units**
For example:
- If the **Alert Delay** is set to 30% and the timeframe is **15 minutes**, the alert will be triggered after a delay of:
\
This ensures the alert is triggered only if the swing high/low condition remains valid for at least 4.5 minutes.
Important Notes:
1. **Timeframe Sensitivity:**
- This script is optimized for use across various timeframes, but users must adjust the **Alert Delay** percentage to match their trading style and timeframe.
- For example, higher timeframes may require lower delay percentages for timely alerts.
2. **Customization Options:**
- Easily customize pivot detection length, alert delay, label styles, and colors to suit your preferences.
3. **Support:**
- If you encounter any challenges or need help optimizing the script for your specific trading scenario, feel free to reach out for assistance.
Comprehensive Trading Toolkit [BigBeluga]Trading Toolkit is a comprehensive indicator inspired by the trading strategies of the renowned crypto influencer Michaël van de Poppe . This tool combines RSI divergences, correction zones, and advanced support/resistance levels to provide traders with a robust framework for analyzing market movements.
🔵 Key Features:
RSI Divergences on Chart:
Automatically identifies and plots RSI divergences (bullish and bearish) directly on the main price chart.
Green lines indicate bullish divergences, suggesting potential upward reversals.
Red lines indicate bearish divergences, signaling possible downward movements.
Correction Boxes:
Traders typically define a correction as a drop in value of 10% or more. This drop can happen over a few hours or a few days. Also, it can last for less than 24 hours or many months.
This indicator visualizes corrections with blue shaded boxes, triggered by a percentage decline defined in the settings.
The boxes highlight sharp price drops, helping traders identify significant market movements quickly.
Advanced Support and Resistance Levels:
Dynamically detects key support and resistance levels based on price pivots.
When the price is above a level, it plots a green shaded area from the cross point, marking support.
When the price drops below a level, it plots a red shaded area, highlighting resistance.
Dashed lines indicate weaker levels, while solid lines represent stronger, more reliable levels.
🔵 Usage:
Identify Divergences: Use plotted RSI divergences to detect potential market reversals and align them with price action.
Analyze Correction Zones: Utilize correction boxes to evaluate significant price declines and find potential buying opportunities during these corrections.
Leverage Support and Resistance Levels: Confirm breakouts, reversals, or consolidation zones with the color-coded areas.
Enhance Risk Management: Combine divergences and correction zones to set informed stop-loss or take-profit levels.
Trading Toolkit empowers traders with actionable insights into market trends, corrections, and support/resistance dynamics, making it an invaluable tool for crypto and forex markets.
Multi-ticker Daily Pivot AlertDescription:
The Big Tech Daily Pivot Alert is a powerful TradingView indicator designed to monitor daily pivot points for major tech and market-leading tickers. It provides real-time alerts when prices approach their daily pivot levels, helping traders identify potential trading opportunities during the U.S. market hours.
Key Features:
Multi-Ticker Monitoring: Tracks the daily pivot points for top tech and market tickers, including NVDA, TSLA, AMZN, NFLX, SPY, QQQ, GOOGL, MSFT, META, and AAPL.
Daily Pivot Calculations: Uses yesterday's high, low, and close prices to calculate the pivot point for each ticker.
Real-Time Alerts: Sends instant alerts when the open, high, low, or current price is near the pivot point (within 0.25% tolerance).
Time-Sensitive Alerts: Operates exclusively during U.S. market hours (6:00 AM to 1:00 PM PST) on weekdays (Monday to Friday).
Customizable Alert Format: Alerts are sent as JSON payloads for seamless integration with platforms like Discord or other webhook-supported systems.
How It Works:
The indicator calculates the daily pivot point for each ticker using the formula:
Pivot Point = (High + Low + Close) / 3
It continuously monitors the open, high, low, and current prices of each ticker on a 1-minute timeframe.
If any value approaches the pivot point within a configurable threshold (default: 0.25%), it triggers an alert with detailed information for all tickers meeting the criteria.
Who Should Use It:
Day Traders: Spot potential price reversal or breakout levels based on pivot point testing.
Swing Traders: Identify key levels of support and resistance to inform trading decisions.
Tech and Market Enthusiasts: Stay updated on critical price levels for major tech and market tickers.
Instructions:
Add the indicator to your chart.
Configure your webhook endpoint to receive alerts (e.g., Discord or Slack).
Monitor alerts for actionable opportunities when prices test pivot points.
Adjustable ORB with ORB Multipliers 1x or 2x by dhaval chhayaniKey Features:
Adjustable Timeframe:
The ORB is calculated using a user-defined timeframe, which defaults to 15 minutes.
Dynamic High/Low Levels:
Identifies the high and low of the first bar of the specified timeframe for each trading day.
Resets these levels at the start of each new day.
Multipliers for Breakout Levels:
Calculates breakout levels using 1.3x and 2x the ORB range, both above and below the opening range.
Displays these levels on the chart with user-controlled visibility.
Labels for Breakout Levels:
Adds labels (1x, 2x) at the breakout levels for better visualization.
Dynamically updates or removes labels based on current conditions.
Visual Representation:
The opening range (high and low) is plotted with blue lines and filled with a shaded area for clarity.
Breakout levels are plotted in white and yellow, representing the respective multipliers.
Day-Specific Logic:
Ensures the indicator only operates for the current day and clears data for previous or upcoming days.
OCM Quarter Point Autopilot - A Multi-Timeframe Quarter TheoryDescription:
The OCM Quarter Point Autopilot indicator automates the application of Quarters Theory across multiple timeframes and instruments. It creates a comprehensive grid of support and resistance levels based on two user-defined price points (Monthly QTPs).
Key Features:
- Automatically calculates and displays quarter points across 5 timeframes:
• Monthly (Black lines)
• Weekly (Blue lines)
• Daily (Green lines)
• 4-Hour (Red lines)
• 1-Hour (Purple lines)
- Shows both upper and lower ranges, which can be toggled on/off
- Visual hierarchy through color-coding for easy timeframe identification
- Extends lines 2 years into the past and 6 months into the future
Usage:
1. Enter two Monthly Quarter Trading Points (QTPs)
2. The indicator automatically:
- Calculates midpoints (weekly)
- Quarter points (daily)
- Eighth points (4-hour)
- Further subdivisions (1-hour)
Benefits:
- Identifies potential support/resistance levels
- Helps spot key price targets
- Works on any instrument where psychological levels matter
- Provides multiple timeframe analysis in one view
Best suited for traders who:
- Follow multi-timeframe analysis
- Trade using support/resistance levels
- Want to identify potential price targets
- Need structured price levels for entries/exits
The indicator combines the systematic approach of Quarters Theory with automated calculation and visualization, making it easier to identify key price levels across multiple timeframes.
Follow Through Day (FTD) + Sweep [TrendX_]The Follow Through Day (FTD) + Sweep indicator is a Trend-following tool mixing William O'Neil's original FTD concept and Liquidity concept. This indicator helps you identify potential subsequent bullish trends with greater precision by combining volume analysis, price action, and liquidity concepts.
💎 FEATURES
Follow Through Day Candle (FTD Candle)
The FTD, pioneered by William O'Neil, serves as a reliable signal for identifying the beginning of new bull markets. It's particularly valuable because it combines multiple market factors - price action, volume, and timing - to confirm genuine market reversals rather than temporary bounces.
The power of the FTD lies in its ability to distinguish between ordinary market fluctuations and significant trend changes. By requiring specific criteria to be met across multiple sessions, it helps filter out false signals and identifies high-probability reversal points where institutional investors are likely beginning to accumulate positions.
Sweep Area
The Sweep area feature enhances the traditional FTD concept by incorporating modern liquidity analysis. This overlay identifies zones where large market participants are likely to trigger stop losses before continuing the trend. These areas often represent optimal entry points for traders looking to join the new uptrend with reduced risk.
🔎 BREAKDOWN
FTD Candle
The FTD formation process occurs in two distinct phases: Setup and Completion.
Setup Phase
Strong Market Decline
The market must first experience a significant downtrend
This selling pressure helps clear out weak hands and creates oversold conditions
The decline creates the potential energy for a powerful reversal
First Recovery Session
Marks the initial sign of buying pressure emerging
Often characterized by a strong reversal candle
Represents the first indication that selling pressure may be exhausting
Recovery Confirmation
The second and third days must maintain prices above the new pivot low
This consolidation period helps confirm the validity of the initial bounce
Shows that sellers are no longer in control of price action
Completion Phase:
Supply Test Session
Low volume indicates diminishing selling pressure
Price remains above the pivot low
Creates the foundation for institutional buyers to begin accumulating
Breakout Day
Price increase exceeds average profit of bullish candles
Volume increases by at least 15% compared to previous session
Shows strong institutional commitment to the new uptrend
Timing Window
Must occur between the 4th and 8th candle after First Recovery Session
This specific timing helps confirm the sustainability of the reversal
Based on O'Neil's research of historical market bottoms
FTD Sweep
The Post-FTD Phase introduces the Sweep concept, which is crucial for understanding how large market participants operate. This feature leverages the liquidity concept because institutional traders often need to trigger stop losses to accumulate larger positions at better prices. This helps:
Create liquidity pools for large position entries
Shake out weak hands before continuing the trend
Test the strength of the new trend by absorbing selling pressure
⚙️ USAGE
Sweep + TP & SL Strategy
Example: BTCUSDT (1D) - Replay back to 9th November 2024
After an FTD candle forms, traders can adopt a systematic approach to enhance their trading strategy. First, they should determine the swing range and convert the post-FTD zone into concrete stop loss and take profit levels, which are based on the price action during the FTD formation. Next, traders should wait for a sweep formation, as this indicates that institutional players are accumulating positions. A quick price rejection from the sweep level should be observed before executing an entry.
The reasoning behind this strategy is rooted in market microstructure. By waiting for the sweep, traders position themselves alongside institutional players who need to build large positions without causing adverse price movement. The sweep creates the liquidity they need, and the subsequent move often represents the true trend continuation.
DISCLAIMER
This indicator is not financial advice, it can only help traders make better decisions. There are many factors and uncertainties that can affect the outcome of any endeavor, and no one can guarantee or predict with certainty what will occur. Therefore, one should always exercise caution and judgment when making decisions based on past performance.
Session Averages: Open, High, LowThis indicator allows for the user to specify an intraday time based range and calculate the average open price, average high price, and average low price for that session. The indicator plots the 5 most recent sessions on the chart, which allows for the user to identify fair value, Power of 3 movements, trends, and consolidations.
If bullish the user can identify when price is below the average open or low price of a range, and if bearish can identify when price is above the open or high of a range.
FVG Detector (Gholam version)The Fair Value Gap (FVG) Detector is a powerful tool designed to identify and highlight potential imbalance areas in the market. Fair Value Gaps, also known as "FVG" or "Liquidity Gaps," are price ranges where there has been little or no trading activity. These gaps can often act as key levels of support or resistance and may represent areas where price is likely to return to for a fill, providing potential trading opportunities.
This indicator automatically scans and marks these gaps on the chart, helping traders quickly spot areas of interest for potential reversals or continuation patterns.
Previous_DWMQY_High/Low & PivotsThis script calculates high/low pivots for different timeframes (daily, weekly, monthly, quarterly, and yearly). You have various pivot point calculation methods (Traditional, Fibonacci, Woodie, Classic, DM, Camarilla) and have inputs that allow customization of the indicator. The script also accounts for custom year-based calculations (bi-yearly, tri-yearly, quinquennially, decennially).
The first part of your code calculates the high and low levels for different timeframes, which are plotted on the chart as crosses. The second part involves the pivot point calculations, where the user selects the type of pivot point calculation (Traditional, Fibonacci, etc.), the timeframe for pivots, and other display settings.
BK BB Horizontal LinesIndicator Description:
I am incredibly proud and excited to share my second indicator with the TradingView community! This tool has been instrumental in helping me optimize my positioning and maximize my trades.
Bollinger Bands are a critical component of my trading strategy. I designed this indicator to work seamlessly alongside my previously introduced tool, "BK MA Horizontal Lines." This indicator focuses specifically on the Daily Bollinger Bands, applying horizontal lines to the bands which is displayed in all timeframes. The Daily bands in my opinion hold a strong significance when it comes to support and resistance, knowing your current positioning and maximizing your trades. The settings are fully adjustable to suit your preferences and trading style.
If you find success with this indicator, I kindly ask that you give back in some way through acts of philanthropy, helping others in the best way you see fit.
Good luck to everyone, and always remember: God gives us everything. May all the glory go to the Almighty!
Central Pivot Range (CPR)Central Pivot Range (CPR) Indicator
The Central Pivot Range (CPR) indicator is designed to help traders identify key levels of support and resistance based on pivot points calculated from the previous day's price action. The CPR levels act as critical areas of price convergence and potential reversal, which can help in anticipating future price movements. This version of the CPR indicator includes customizable features to enhance your trading strategy.
Key Features:
Custom Timeframe Support: The indicator allows you to select a custom timeframe for calculating the CPR levels. By default, it uses the daily timeframe ('D'), but you can adjust it to any other timeframe of your choosing. The indicator calculates the CPR and support/resistance levels based on the data from the selected timeframe.
Central Pivot (CP), Below Central Pivot (BC), and Top Central Pivot (TC):
Pivot (CP): The central pivot point is calculated as the average of the high, low, and close prices of the selected timeframe.
Below Central Pivot (BC): This is the midpoint between the high and low prices of the selected timeframe.
Top Central Pivot (TC): This is calculated based on the central pivot and below central pivot, providing a range between support and resistance levels.
Support and Resistance Levels (S1, S2, S3, R1, R2, R3):
Support Levels (S1, S2, S3): These are calculated based on the central pivot, providing potential areas where price may find support and reverse.
Resistance Levels (R1, R2, R3): These are calculated similarly but indicate potential resistance zones where price may face challenges to move higher.
Dynamic Plotting Based on User Input:
The indicator allows you to choose which levels to display on the chart, including the Central Pivot (CP), Support Levels (S1, S2, S3), and Resistance Levels (R1, R2, R3), all of which can be toggled on or off via checkboxes.
CP is displayed in white, BC and TC in blue, Support levels (S1, S2, S3) in green, and Resistance levels (R1, R2, R3) in red.
Daywise Calculations:
The CPR and levels are based on the previous day’s price action, providing historical support and resistance levels that can be useful for intraday analysis.
The request.security function is used to fetch the pivot data from the custom timeframe, ensuring the levels are calculated based on the last completed period (previous day) without repainting.
Customization Options:
CPR Plot: Toggle the visibility of the central pivot range (CPR) lines.
Support Levels (S1, S2, S3): Choose to show or hide the support levels.
Resistance Levels (R1, R2, R3): Choose to show or hide the resistance levels.
Custom Timeframe: Set a custom timeframe for calculating the CPR, allowing for more flexible and tailored analysis.
Bitcoin Reversal PredictorOverview
This indicator displays two lines that, when they cross, signal a potential reversal in Bitcoin's price trend. Historically, the high or low of a bull market cycle often occurs near the moment these lines intersect. The lines consist of an Exponential Moving Average (EMA) and a logarithmic regression line fitted to all of Bitcoin's historical data.
Inspiration
The inspiration for this indicator came from the PI Cycle Top indicator, which has accurately predicted past bull market peaks. However, I believe the PI Cycle Top indicator may not be as effective in the future. In that indicator, two lines cross to mark the top, but the extent of the cross has been diminishing over time. This was especially noticeable in the 2021 cycle, where the lines barely crossed. Because of this, I created a new indicator that I think will continue to provide reliable reversal signals in the future.
How It Works
The logarithmic regression line is fitted to the Bitcoin (BTCUSD) chart using two key factors: the 'a' factor (slope) and the 'b' factor (intercept). This results in a steadily decreasing line. The EMA oscillates above and below this regression line. Each time the two lines cross, a vertical colored bar appears, indicating that Bitcoin's price momentum is likely to reverse.
Use Cases
- Price Bottoming:
Bitcoin often bottoms out when the EMA crosses below the logarithmic regression line.
- Price Topping:
In contrast, Bitcoin often peaks when the EMA crosses above the logarithmic regression line.
- Profitable Strategy:
Trading at the crossovers of these lines can be a profitable strategy, as these moments often signal significant price reversals.
Bitcoin Logarithmic Regression BandsOverview
This indicator displays logarithmic regression bands for Bitcoin. Logarithmic regression is a statistical method used to model data where growth slows down over time. I initially created these bands in 2019 using a spreadsheet, and later coded them in TradingView in 2021. Over time, the bands proved effective at capturing Bitcoin's bull market peaks and bear market lows. In 2024, I decided to share this indicator because I believe these logarithmic regression bands offer the best fit for the Bitcoin chart.
How It Works
The logarithmic regression lines are fitted to the Bitcoin (BTCUSD) chart using two key factors: the 'a' factor (slope) and the 'b' factor (intercept). The two lines in the upper and lower bands share the same 'a' factor, but I adjust the 'b' factor by 0.2 to more accurately capture the bull market peaks and bear market lows. The formula for logaritmic regression is 10^((a * ln) - b).
How to Use the Logarithmic Regression Bands
1. Lower Band (Support Band):
The two lines in the lower band create a potential support area for Bitcoin’s price. Historically, Bitcoin’s price has always found its lows within this band during past market cycles. When the price is within the lower band, it suggests that Bitcoin is undervalued and could be set for a rebound.
2. Upper Band (Resistance Band):
The two lines in the upper band create a potential resistance area for Bitcoin’s price. Bitcoin has consistently reached its highs in this band during previous market cycles. If the price is within the upper band, it indicates that Bitcoin is overvalued, and a potential price correction may be imminent.
Use Cases
- Price Bottoming:
Bitcoin tends to bottom out at the lower band before entering a prolonged bull market or a period of sideways movement.
- Price Topping:
In reverse, Bitcoin tends to top out at the upper band before entering a bear market phase.
- Profitable Strategy:
Buying at the lower band and selling at the upper band can be a profitable trading strategy, as these bands often indicate key price levels for Bitcoin’s market cycles.
Swing Structure Scanner [LuxAlgo]The Swing Structure Scanner Indicator is a dashboard type indicator which displays a Consolidated "High/Low-Only" view of swing structure, with the capability to retrieve and display swing points from up to 6 different tickers and timeframes at once.
🔶 USAGE
This indicator displays swing structure data from up to 6 unique tickers or timeframes; Each graph represents the current swing structure retrieved from the requested chart/s.
Each swing graph displays the current live swing point positioning relative to the previous swing points. By analyzing the different formations, patterns can more easily be recognized and found across multiple tickers or timeframes at once.
This indicator serves as a nifty tool for confluence recognition, whether that's confluence throughout market tickers, or confluence through higher timeframes on the same ticker.
Alternatively, viewing the relative positioning of each swing point to each other, should give a clearer idea when higher lows or lower highs are formed. This can potentially indicate a newly forming trend, as well as serving as a warning to watch for breakouts.
The swing length can be changed to align with each individual's strategy, as well as a display look back can be adjusted to show more or less swing points at one time.
The display is fairly customizable, it is not fixed to 6 symbols at all times and can be minimized to only display the number of symbols needed; Additionally, the display can be set to vertical mode or horizontal(default) to utilize as needed.
Note: Hover over the swing point in the dashboard to get a readout of the exact price level of the swing point.
🔶 SETTINGS
Swing Length: Set the swing length for the structure calculations.
Swing Display Lookback: Sets the number of swing points (Pairs) to display in each Swing Graph display.
Symbols: Sets the Timeframe and Symbol for each Swing Graph.
Vertical Display: Display the Swing Graphs up and down, rather than side to side.
Scaling Factor: Scales the entire indicator up or down, to fit your needs.
