Supply and Demand StrategyOverview
This strategy is designed to identify key supply (resistance) and demand (support) zones on a price chart. These zones represent areas where the price has historically shown a significant reaction, either bouncing up from a demand zone or dropping down from a supply zone. The strategy provides clear entry and exit points for trades based on these zones.
Key Components
Supply and Demand Zones:
Supply Zone: An area where the price has reversed from an uptrend to a downtrend. It represents a high concentration of sellers.
Demand Zone: An area where the price has reversed from a downtrend to an uptrend. It represents a high concentration of buyers.
Time Frames:
Use higher time frames (like daily or weekly) to identify key supply and demand zones.
Use lower time frames (like 1-hour or 4-hour) to pinpoint precise entry and exit points within these zones.
Confirmation:
Use price action and candlestick patterns (like pin bars or engulfing patterns) to confirm potential reversals in these zones.
Support and Resistance
ICT Propulsion Block [LuxAlgo]The ICT Propulsion Block indicator is meant to detect and highlight propulsion blocks, which are specific price structures introduced by the Inner Circle Trader (ICT).
Propulsion Blocks are essentially blocks located where prices interact with preceding order blocks. Traders often utilize them when analyzing price movements to identify potential turning points and market behavior or areas of interest in the market.
🔶 USAGE
An order block is a significant area on a price chart where there was a notable accumulation or distribution of orders, often identified by a strong move in price followed by a consolidation or sideways movement. Traders use order blocks to identify potential support or resistance levels.
A Propulsion Block, on the other hand, is a concept taught by the Inner Circle Trader (ICT) and refers to a specific type of order block that interacts with the preceding order block. Traders often analyze propulsion blocks to identify potential turning points and areas of interest in the market.
A mitigated order block refers to an order block that has been invalidated or nullified due to subsequent market movements or developments. It no longer holds the same significance or relevance in the current market context.
Let's explore a bearish order block and propulsion block scenario commonly utilized by ICT traders in their trading strategies.
🔶 SETTINGS
🔹 Order & Propulsion Blocks
Swing Detection Length: Lookback period used to detect swing points for creating order blocks and/or propulsion blocks.
Mitigation Price: Allows users to choose between the closing price or the candle's wick for mitigation.
Highlight Propulsion Block Signals: Highlights the propulsion block and its sentiment for easier identification and analysis.
Remove Unassociated Order Blocks: Eliminate order blocks that are not associated with any propulsion block.
Remove Mitigated Blocks: Eliminates mitigated order blocks and propulsion blocks along with their associated order blocks, streamlining the visualization for clearer analysis.
Most Recent Blocks: Activates processing of the specified number of most recent blocks according to the option. If not enabled, the script defaults to processing the last 125 occurrences.
🔹 Order & Propulsion Blocks Style
Bullish Order & Propulsion Blocks: Toggles the visibility of bullish order and propulsion blocks, along with color customization options.
Bearish Order & Propulsion Blocks: Toggles the visibility of bearish order and propulsion blocks, along with color customization options.
Block Labels: Toggles the visibility of order and propulsion block labels, and label size customization option.
🔶 RELATED SCRIPTS
Order-Blocks-Breaker-Blocks .
Log Regression Channel [UAlgo]The "Log Regression Channel " channel is useful for analyzing price trends and volatility in a financial instrument over a specified period. By using logarithmic scaling, this indicator can more effectively handle the wide range of price movements seen in many financial markets, making it particularly valuable for assets with exponential growth characteristics.
The indicator plots the central regression line along with upper and lower deviation bands, providing a visual representation of potential support and resistance levels.
🔶 Key Features
Logarithmic Regression Line: The central line represents the logarithmic regression, which fits the price data over the specified length using a logarithmic scale. This helps in identifying the overall trend direction.
Deviation Bands: The upper and lower bands are plotted at a specified multiple of the standard deviation from the regression line, highlighting areas of potential overbought and oversold conditions.
Customizable Parameters: Users can adjust the length of the regression, the deviation multiplier, the color of the labels, and the size of the text labels to suit their preferences.
R-Squared Display: The R-squared value, which measures the goodness of fit of the regression model, is displayed on the chart. This helps traders assess the reliability of the regression line.
🔶 Calculations
The indicator performs several key calculations to plot the logarithmic regression channel:
Logarithmic Transformation: The prices and time indices are transformed using the natural logarithm to handle exponential growth in price data.
Regression Coefficients: The slope and intercept of the regression line are calculated using the least squares method on the transformed data.
Predicted Values: The regression equation is used to calculate predicted values for each data point.
Standard Deviation: The standard deviation of the residuals (differences between actual and predicted values) is computed to determine the width of the deviation bands.
Deviation Bands: Upper and lower bands are plotted at a specified multiple of the standard deviation above and below the regression line.
R-Squared Value: The R-squared value is calculated to measure how well the regression line fits the data. This value is displayed on the chart to inform the user of the model's reliability.
🔶 Disclaimer
The "Log Regression Channel " indicator is provided for educational and informational purposes only.
It is not intended as investment advice or a recommendation to buy or sell any financial instrument. Trading financial instruments involves substantial risk and may not be suitable for all investors.
Past performance is not indicative of future results. Users should conduct their own research.
ACD Indicator [TradingFinder] M Fisher Pivots Methodology Signal🔵 Introduction
The book "The Logical Trader" begins with a comprehensive review of the ACD Methodology principles, which include identifying specific price points related to the opening range.
This method allows you to set reference points for trading and use points "A" and "C" for trade entry. You will also learn about the "Pivot Range" and how to combine them with the ACD method to maximize position size and minimize risk.
In this indicator, the strategy is implemented to make it easier to use.
🔵 How to Use
The "ACD" strategy can be applied to various markets such as stocks, commodities, or forex, providing buy and sell signals that allow you to set your price targets and stop losses.
This strategy is based on the assumption that the opening range of trades is statistically significant each day, meaning the initial market fluctuations influence the market until the end of the day.
The ACD trading strategy is known as a breakout strategy and performs best in volatile or strongly trending markets, such as crude oil and stocks.
Some of the rules for using the ACD strategy include the following :
Consider points A and C as reference points and continuously pay attention to these points during trades. These points serve as entry and exit points for trades.
Examine daily and multi-day pivot ranges to analyze market trends. If the price is above the pivots, the trend is upward, and if below the pivots, the trend is downward.
Trading with the ACD strategy in forex is possible using the ACD indicator. This indicator is a technical tool used to measure the balance between supply and demand in the market. By analyzing trading volume and price, this indicator helps traders identify trend strength and suitable entry and exit points.
To use the ACD indicator, consider the following :
Identifying strong trends: The ACD indicator can help you identify strong and stable trends in the market.
Determining entry and exit points: ACD provides buy and sell signals to enter or exit trades at the best possible time.
Bullish Setup :
When the "A up" line is broken, it is advisable to wait for some time to ensure that this is not a "Fake Breakout" and that the price stabilizes above this line.
After entering the trade, the best stop loss you can choose is below the "A down" line. However, it is recommended to test this in backtests to achieve the best results. The suitable reward-to-risk ratio for this strategy is 1, which should also be backtested.
Bearish Setup :
When the "A down" line is broken, it is advisable to wait for some time to ensure that this is not a "Fake Breakout" and that the price stabilizes below this line.
After entering the trade, the best stop loss you can choose is above the "A up" line. However, it is recommended to test this in backtests to achieve the best results. The suitable reward-to-risk ratio for this strategy is 1, which should also be backtested.
🔵 Setting
NDay Pivot Range Period : Using this entry you can specify the number of days to calculate NDay Pivot Range.
Show Daily Pivot Range : Set the Daily Pivot color and displayed or not.
Show NDay Pivot Range : Set the NDay Pivot color and displayed or not.
ATR Period Levels : Determining the period of the ATR indicator, which is used to determine the A and C levels.
Show Tokyo ACD Setup : Set the Tokyo ACD Setup color and displayed or not.
Tokyo Opening Range Time : The amount of time taken to determine the opening range. You can set this number between 5 and 60 minutes.
Tokyo Session : Market start and end time.
A Level Multiplier : The coefficient that is multiplied by ATR to determine the distance of line A up and A down.
C Level Multiplier : The coefficient that is multiplied by ATR to determine the distance of line C up and C down.
The same settings exist for the London and New York sessions.
Market Structure Targets Model [LuxAlgo]The Market Structure Targets Model indicator provides an algorithmic approach to setting targets from market structure shifts (MSS) and market structure breaks (MSB), two popular Smart Money Concept (SMC) concepts. Depending on the target % settings, they can be used as take profit, confirmation levels, or potential reversal points.
🔶 USAGE
Our Market Structure Targets Model scripts provide automated and customizable targets from MSS and MSB. Each displayed target can be used in several ways described in the sub-sections below:
🔹 Take Profit
The targets can be used as take profit levels, where the target distance can be set separately for bullish/bearish MSS/MSB respectively.
🔹 Confirmation Levels
Alternatively, targets can be used as an additional confirmation level of a trend reversal when set at a lower percentage, filtering out fake signals that might be given from market structures. In this way, targets can be used as potential entry levels.
🔹 Potential Reversal Points
In some circumstances, targets being reached can be indicative of trend reversals. The percentage of the targets would be typically set higher to allow for trend exhaustion.
The above examples highlight this usage for bearish reversal scenarios, while the image below highlights it for bullish reversal scenarios.
🔹 Support/Resistance Levels
The targets, being horizontal levels, can also serve as potential support/resistances, with breakouts potentially confirming new trends. It is important to remain observant of the market structure. An MSS or MSB in the opposite direction provides essential information to be included in future decisions.
Using multiple timeframes can help detect longer-term trends. Depending on the user's preference, they can choose the appropriate timeframe for their needs.
Note that Target lines will only be drawn when the Target Level exceeds the close value when it is drawn.
🔹 Maximum Target Duration
The Maximum Target Duration setting removes unreached target levels when the amount of bars since the associated market structure of that target exceeds the user set limit. This effectively allows the removal of any target that might no longer be relevant to newer trends.
🔹 Type: Switch/Hold
This setting is another way to control unreached target levels.
Switch: When a new MSS/MSB is found, the previous target level associated with a market structure with the same direction (bullish/bearish) is deleted if it hasn't been reached.
Hold: Target levels are retained and continuously evaluated when a new MSS/MSB is formed.
The target level will be removed in both cases when the Maximum Target Duration condition is applied.
The above example shows the case when the Type setting is set to Switch , while in the example below, it is set to Hold .
🔶 DETAILS
🔹 Market Structure
Market structures are commonly classified as follows:
Market Structure Shift (MSS), also referred to as Change of Character (CHoCH)
Market Structure Break (MSB), also referred to as Break of Structure (BOS)
MSS indicates a shift in the market trend, confirming trend reversals. Conversely, MSB occurs once a trend is already determined, confirming new higher highs/lower lows.
🔹 Targets
A: Highest/lowest between the extremities of the MSS/MSB line
B: Price value of the MSS/MSB line
The distance between A and B is projected on the opposite side of the MSS/MSB line, adjusted with a percentage that can be set by the user. The above example used 100% of the distance between A and B.
The Target Percentage of MSS and MSB can be set separately for bullish or bearish market structures.
🔶 SETTINGS
Swings: Period used for the swing detection, with higher values returning longer-term Swing Levels.
Type: the Switch/Hold setting controls unattained target levels
Maximum Target Duration: removes the target lines when the amount of bars since the drawing of the target exceeds the limit and the target has not been reached
🔹 Market Structure Shift (MSS)
Bullish: Toggle, color setting, % Target
Bearish: Toggle, color setting, % Target
🔹 Market Structure Break (MSB)
Bullish: Toggle, color setting, % Target
Bearish: Toggle, color setting, % Target
Fibonacci Average Range [UkutaLabs]█ OVERVIEW
The Fibonacci Average Range indicator provides unique insight into key price-action levels within the market that can serve as powerful support and resistance levels. The Fibonacci Average Range is automatically generated purely from price-action; simplifying the decision-making process because price-action focuses on the most critical factor, price.
Through the use of its Fibonacci retracement levels, traders will be able to more accurately predict future direction and price movement of any given commodity.
The Fibonacci Average Range indicator is a powerful trading tool that provides unique insight into the market that can provide value to a wide variety of trading styles.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
At the beginning of each trading day, the script will use relevant price-action information to calculate an expected range for the current trading day, giving traders unique insight into potential levels of support and resistance within the market.
Depending on current market conditions, the script will either generate from the current day’s high or the current day’s low, depending on whether the market shows bullish or bearish strength.
Within the total projected range, several other levels will be identified and labelled. These levels combine the script’s prediction for the day’s range and key Fibonacci Ratios to identify potentially powerful levels of support and resistance within.
Each line also has a label to identify what it represents, and these labels can be turned off in the settings.
█ SETTINGS
Configuration
• Show Labels: Determines whether labels get drawn.
• Current Day Open: Determines whether a line representing the current day’s open is drawn.
• Display Mode: Determines the number of days the script will load.
Line Settings
• Line Width: Determines the width of lines.
• Line Style: Determines the style of lines.
Support and Resistance (High Volume Boxes) [ChartPrime]Support and Resistance (High Volume Boxes)
◆ Overview:
The "Support and Resistance" indicator identifies key support and resistance levels using pivot points and volume analysis. It visually represents these levels with dynamically colored boxes, indicating the strength of the volume. This helps traders recognize potential price reversals and key zones for buy and sell opportunities.
◆ Key Features:
Dynamic Support and Resistance Boxes:
The indicator plots support and resistance boxes based on pivot points and volume above threshold for positive volume boxes and below lower threshold for negative volume boxes.
Box colors change from transparent to more intense based on volume, reflecting the strength of support or resistance.
Boxes expands until a new box of the same type appears.
Volume-Based Color Coding:
Boxes are color-coded based on the amount of volume:
Green boxes indicate support levels with positive volume.
Red boxes indicate resistance levels with negative volume.
Hold Signals:
Green diamonds (◆) indicate when support holds, signaling potential buy opportunities.
Red diamonds (◆) indicate when resistance holds, signaling potential sell opportunities.
Breakout Labels:
If the price falls below a support level, that level will become resistance. If the price rises above a resistance level, it will often become support. As the price moves past a level of support or resistance, it is thought that supply and demand has shifted, causing the breached level to reverse its role.
Labels "Break Sup" and "Break Res" are displayed when support or resistance levels are broken, indicating significant market movements.
◆ Break Resistance:
◆Break Support:
◆ Usage Notes:
This indicator helps traders identify strong support and resistance levels, offering visual cues for potential price reversals.
By analyzing volume at these levels, traders can gauge the strength of these zones and make more informed trading decisions.
◆ Settings:
Lookback Period: The number of bars to look back for pivot points.
Delta Volume Filter Length: The length of the volume filter for more accurate volume analysis. (Higher input, will filter low volume boxes)
Adjust Box Width: Adjusts the width of the support and resistance boxes.
This indicator is designed to enhance your trading by providing clear visual cues for support and resistance levels based on volume, making it easier to spot potential price reversals and key trading opportunities.
TrendzonesHi all!
This indicator plots trendlines. These lines are not plotted as traditional lines, but are instead zones. This is useful if you think that trend lines are more of an area of importance than a line.
It does so by finding pivots and connecting two of them if they have not been broken (more about that later) in-between the pivots.
These trend zones can be used as support/resistance that the price can react to.
• The first trendline is drawn between the high/low of the first and second pivot.
• The second trendline's first point is at the open/close of the pivot (either the first pivot or the second one) that has the smallest difference between the high/low and the nearest open/close. The same difference (between the high/low and the open/close) is then subtracted from the other pivot's high/low. This creates a point at the other pivot bar. A trendline is then drawn between the points.
This creates two trendlines and a zone between the two trendlines. This zone is the one kept and is shown by the script.
You can define the pivot lengths used to find trend zones (defaults to 3/3). You can also define the number of pivots to look back for, to find trend zones and the number of active zones, both of these defaults to 3. You can also choose to let the script create new zones based on time ("Oldest") or the zone that is furthest away in price, this defaults to be based on time but it can be useful for letting the script remove the one which is furthest away in price. Another useful setting is the one called "Cross source". This defines the price that has to cross the trend zone to make it invalid (broken). This defaults to "Close", i.e. the bar has to close on the "wrong side" of the trend zone.
The current zones are shown with an extension to the right, but you can also choose to keep the previous lines (without extension). Please note that kept zones are only the ones that are broken, not the replaced ones. I.e. the zones that are kept are the ones that are crossed by the user defined "cross source" (defaults to the closing/current price of the bar).
Hope this makes sense, let me know if you have any questions.
Best of trading luck!
Unlocking the Power of Long Candle MidpointI'm excited to share with you a fascinating concept that can help you identify potential breakout points in the market.
The Pine Script code provided below is designed to identify the midpoint of a long candle, which can be a crucial level for traders to watch.
In this blog post, we'll dive deeper into the concept, explore its applications, and analyze a real-life example of TATACHEM listed on NSE, which is currently trading around a potential psychology line.
What is the Long Candle Midpoint?
The long candle midpoint is a technical indicator that calculates the midpoint of a candlestick that has a significant price movement. This midpoint is then used to draw a horizontal line, which can serve as a potential support or resistance level. The idea is that if a candlestick has a large price movement, it's likely that the market will react to this movement by testing the midpoint of the candle.
How Does the Long Candle Midpoint Indicator Work?
The Pine Script code provided above is designed to calculate the midpoint of a long candle based on the following parameters:
Length: The length of the candlestick is calculated using the len input parameter.
Line Length: The length of the line is calculated using the linExt input parameter.
Calculation Method: The calculation method can be set to either "Highest True Range", "Average True Range", or "Both".
Multiplier: The multiplier is used to adjust the midpoint calculation based on the average range of the candlestick.
The script then plots a horizontal line at the midpoint of the long candle, which can be used as a potential support or resistance level.
Real-Life Example:
Let's take a look at TATACHEM, a stock listed on the National Stock Exchange of India (NSE). As you can see in the chart below,
TATACHEM has been trading around a potential psychology line drawn from the midpoint of a large candle.
As you can see, the stock has previously failed to break above this line, but it's currently trading around it. This could be a sign that the market is preparing for a potential breakout. If the stock can break above this line, it could lead to a bullish rally.
Conclusion
The long candle midpoint indicator is a powerful tool that can help traders identify potential breakout points in the market. By analyzing the midpoint of a long candle, traders can gain insights into the market's sentiment and potential areas of support or resistance.
In the case of TATACHEM, the stock is currently trading around a potential psychology line, which could be a sign of a potential breakout. Traders can consider this point in their watch list for a potential entry. Tips for Traders
Use the long candle midpoint indicator in conjunction with other technical indicators to gain a more comprehensive understanding of the market.
Look for confirmation from other indicators before entering a trade.
Set stop-loss and take-profit levels based on the potential breakout point.
Monitor the market closely and be prepared to adjust your strategy if the market doesn't behave as expected.
By incorporating the long candle midpoint indicator into your trading strategy, you can gain an edge in the market and make more informed trading decisions.
Wave Consolidation [LuxAlgo]The Wave Consolidation indicator uses market profiles to highlight consolidation zones based on upward and downward moves determined when a Higher-High or Lower-Low is created.
Users can control the amount of consolidation zones to display and the sensitivity of the swing point detection used to return those zones.
🔶 USAGE
These zones are intended as areas of interest to traders where price has seen historical interactions, which can be interpreted as support and resistance. By identifying these areas of interest before the price returns to them, traders are able to anticipate and prepare for various scenarios and respond dynamically to the behavior of the market, as seen below.
Rejection: A quick move away from the zone may indicate that the area is either overvalued or undervalued, leading to a fast movement in the opposite direction.
Breakthrough: Moving beyond a zone could indicate acceptance at that specific price, potentially signaling a shift in momentum or the start of a new trend. In a strong major trend, zones created from smaller trends could be used as price targets for taking profit and managing risk.
Consolidation: Holding these zones might suggest a market in balance at these levels, this could lead to opportunities for range-bound trading.
Below is an example of the Rejection and Consolidation scenarios described above.
Note: By analyzing the tests and retests of these zones, traders can also gain further insight into where participants are interacting in the market.
🔶 DETAILS
The full process for acquiring and managing these zones is described in the sub-sections below.
🔹 Creation
By only considering market movements creating a higher-high or lower-low, we can identify meaningful, directional, moves which can then be used to calculate zones.
Once a move is identified, the script calculates a volume profile spanning the length of the given move.
The width of the zones is determined starting from the POC of the profile and expanding outwards until the value of the profile's row falls below the profile's average.
Note: By increasing the "Multiplier" Input, Users can increase the threshold the script uses to determine zone width in multiples of Standard Deviations above the Average.
While this area is similar to a VP Value Area, it is not intended to replicate a value zone. The calculation is not concerned with capturing any % of the total profile's volume within the zone and only analyzes based on a fixed inclusion threshold.
🔹 Management
To keep clutter to a minimum, If a new zone overlaps a recently created zone, the zones are grouped as one. This is especially helpful in areas where prices are ranging, creating multiple zones in a very similar area.
Zones before management:
Zones after management:
🔹 Deletion
Just because a zone is crossed, does not make it immediately unimportant!
Once a Zone is mitigated (crossed in the opposite direction of its bias) it is reduced to a single dotted line representing the outer threshold for the zone. These lines are important to watch, as the price will often retest a break. For this reason, they will stay on the chart until the next swing point is detected when they will finally be deleted for good.
Below is an example of activity around a broken zone before it is deleted.
Below is the same example 2bBars later , once the new swing is confirmed, the dotted lines are deleted and new zones are created.
Notice how the newly formed resistance zone is in the same area where we noticed sellers previously.
🔶 SETTINGS
🔹 Structure
Display Structure: Determines if swing structures are displayed.
Structure Length: Sets Length for structure identification.
🔹 Zones
Volume-Based Calculations: Opt to use a "Volume" based Profile Calculation instead of the default "Price Action" based Calculation.
Display Count: Sets the specific number of bullish and bearish zones to display on the chart.
Multiplier: Sets the multiplier to use for the value cut-off for determining zone boundaries.
🔹 Style
Display Average Lines: Toggles on/off the average (mid) lines for the zones.
Initial Balance [UkutaLabs]█ OVERVIEW
The Initial Balance Indicator is a powerful trading tool that indicates a strong range based on the high and low of the first hour after market open. This range serves as a potential area of Support or Resistance that traders should be aware of during their trading. Because of this, the Initial Balance Indicator is a versatile trading tool that can be included in a wide variety of trading strategies.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
When the New York Market opens each day, the script will automatically identify and label the opening range of the first hour of the trading day in real time.
Because there tends to be a spike in volume during this period, the range that is identified can serve as a powerful indication of overall market strength. Once the price breaks out of this range, it then can be used as an area of support or resistance depending on the direction of the breakout.
█ SETTINGS
Configuration
• Display Mode: Determines the number of days that the script should load.
• Show Labels: Determines whether identifying labels are drawn on the chart as well.
• Initial Balance Color: Determines the color of the range and labels that are drawn by the indicator.
• Extension Levels: Determines the number of extension levels that should be drawn on either side of the range. These levels are drawn at an interval of half the width of the Initial Balance range.
• Extension Levels Color: Determines the color of the extension level lines.
Pivot Levels [UkutaLabs]█ OVERVIEW
The Pivot Levels Indicator provides real-time insight into key price levels within the market that can serve as powerful support and resistance levels. These levels are based on currently-relevant price-action information to ensure that the lines being drawn provide the most value to traders regardless of their trading style.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
At the beginning of each trading day, the script will identify the previous day’s hlc3 level. We refer to this level as the day’s Source Level, and it is from this price that the other Resistance and Support levels are calculated.
The script then identifies the total price range of the previous day (Previous Day High - Previous Day Low), then draws Resistance and Support lines based on the Source Level and the previous day’s range.
The script identifies these levels on both sides of the Source. Levels above the Source are considered to be points of Resistance and below the Source are considered to be Support, but the levels are free to be interpreted and used in whatever way fits the user’s trading strategy.
A label is drawn at the end of each line that identifies the line and whether it represents support or resistance. These labels can be disabled in the settings.
█ SETTINGS
Configuration
• Show Labels: Determines whether or not labels are displayed at the end of each line.
• Display Mode: Determines the number of days for the script to load.
Line Settings
• Resistance Color: Determines the color of the resistance lines and labels above the Source Level.
• Source Color: Determines the color of the source line and label.
• Support Color: Determines the color of the support lines and labels below the Source Level.
• Line width: Determines the width of lines.
• Line Style: Determines the style of lines.
Psychological Levels [UkutaLabs]█ OVERVIEW
The Psychological Levels Indicator provides real-time insight into key price levels within the market that can serve as powerful support and resistance levels. These levels are updated automatically in real time to display only the most relevant levels to the current price, facilitating your trading experience.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
On each tick, the nearest key price level is automatically identified by the script. The script will identify this level based on the price of the commodity you are applying it to:
• Commodities priced at $0 to $999.99 will identify the nearest whole dollar.
• Commodities priced at $1,000 to $9,999.99 will identify the nearest $10.
• Commodities priced at $10,000 to $99,999.99 will identify the nearest $100.
• Commodities priced over $100,000 will identify the nearest $1,000.
We refer to this rounding price as the gap price, and it is also used to determine the prices of the other lines drawn by this script.
After identifying the nearest key price level, the script then incrementally draws lines on either side of this level at an interval of the gap price. We refer to these as the Major Lines, and the user can control the number of these lines that get drawn, the style of these lines, and they can be disabled in the settings.
The script then draws lines at the half-way point between each of these Major Lines, and we refer to these as the Minor Lines. Like the Major Lines, the user has full control over the number of these lines that can be drawn, the style of these lines, and they can be disabled in the settings.
█ SETTINGS
Configuration
• Number of Lines: Determines the number of lines that are drawn on either side of the key price line. This controls both the number of Major Lines and Minor Lines.
Line Settings
• Major Lines: Determines whether or not the Major Lines will be displayed.
- Color: Determines the color of Major Lines.
- Style: Determines the style of Major Lines.
- Width: Determines the width of Major Lines
• Minor Lines: Determines whether or not the Minor Lines will be displayed.
- Color: Determines the color of Minor Lines
- Style: Determines the style of Minor Lines
- Width: Determines the width of Minor Lines
Opening Range Breakout [UkutaLabs]█ OVERVIEW
The Opening Range Breakout is a powerful trading tool that indicates a strong range based on the high and low of the first fifteen or thirty minutes after market open. This range serves as a potential area of Support or Resistance that traders should be aware of during their trading. Because of this, the Opening Range Breakout is a versatile trading tool that can be included in a wide variety of trading strategies.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
When the New York Market opens each day, the script will automatically identify and label the opening range in real time. The user can control whether the script measures the first 15 or 30 minutes of each trading day to fit each trader’s trading style.
Because there tends to be a spike in volume during this period, the range that is identified can serve as a powerful indication of overall market strength. Once the price breaks out of this range, it then can be used as an area of support or resistance depending on the direction of the breakout.
█ SETTINGS
Configuration
• Show Labels: Determines whether labels are drawn within the range.
• Display Mode: Determines the number of days the script should load.
Range Settings
• 15 Minute: Determines whether or not the 15 minute range is drawn.
• 15 Minute Color: Determines the color of the 15 minute range and labels.
• 30 Minute: Determines whether or not the 30 minute range is drawn.
• 30 Minute Color: Determines the color of the 30 minute range and labels.
Open High Low Close [UkutaLabs]█ OVERVIEW
The Open High Low Close indicator is a powerful trading tool which generates resistance and support levels based on the previous day’s Open, High, Low and Close prices. These levels may act as strong levels of support and resistance, granting traders insight into key price levels.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
At the beginning of each trading day, the script will automatically identify the previous day’s high, low, open and close prices. After identifying these levels, the script will then display them as a line on the chart.
Each line also has a label at the end indicating which level it represents. These labels can be toggled in the indicator's settings.
These levels are based on relevant price-action information and may serve as potentially powerful Support and Resistance levels that can be included in a variety of trading strategies.
█ SETTINGS
Configuration
• Show Labels: Determines whether or not identification labels are drawn on each line.
• Display Mode: Determines the number of days the script should load.
• OHLC Color: Determines the color of the lines and labels.
Fibonacci Pivot Levels [UkutaLabs]█ OVERVIEW
The Fibonacci Pivot Levels Indicator provides real-time insight into key price levels within the market that can serve as powerful support and resistance levels. These levels are based on currently-relevant price-action information as well as key Fibonacci ratios to ensure that the lines being drawn provide the most value to traders regardless of their trading style.
The Fibonacci levels are a powerful form of technical analysis that allows traders to predict future potential price support and resistance levels.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
At the beginning of each trading day, the script will identify the previous day’s hlc3 level. We refer to this level as the day’s Source Level, and it is from this price that the other Resistance and Support levels are calculated.
The script then identifies the total price range of the previous day (Previous Day High - Previous Day Low), then incrementally draws lines at a distance of the previous day’s range multiplied by key Fibonacci ratios from the Source Level.
The script identifies these levels on both sides of the Source. Levels above the Source are considered to be points of Resistance and below the Source are considered to be Support, but the levels are free to be interpreted and used in whatever way fits the user’s trading strategy.
A label is drawn at the end of each line that displays the Fibonacci ratio that was used to calculate it as well as the price that the line represents. These labels can be disabled in the settings.
█ SETTINGS
Configuration
• Display Mode: Determines how many days the script will draw lines for.
• Show Labels: Determines whether or not labels are drawn at the end of each line.
Line Colors
• Resistance Color: Determines the color of Resistance Lines drawn above the Source.
• Source Color: Determines the color of the Source Line.
• Support Color: Determines the color of Support Lines drawn below the Source.
Line Settings
• Line Width: Determines the width of all lines.
• Line Style: Determines the style of all lines.
Premarket Levels [UkutaLabs]█ OVERVIEW
The Premarket Levels indicator measures the premarket high and low of any given market. The Premarket Levels creates potential strong resistance and support levels based on the premarket high and low which traders can use to gauge the market outlook ahead of the regular open.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
At the beginning of the New York Session of each trading day at 1:30pm UTC time, this script will automatically identify the High and Low prices since the market opened at 10:00pm the night before. This happens automatically and in real time, ensuring that traders have access to this information as soon as the market is open.
These lines will extend until the end of the trading day, and also contain labels that display the price of each line. These labels can be disabled in the indicator's settings.
These levels indicate the total range of the market for that day until the open of the New York Session, and can be treated as levels of Support and Resistance after the market has opened.
█ SETTINGS
Configuration
• Show Labels: Determines whether labels are drawn within the range.
• Display Mode: Determines the number of days the script should load.
Range Settings
• High Color: Determines the color of the high lines and labels.
• Low Color: Determines the color of the low lines and labels.
Pre-COVID High and COVID LowOverview
The "Pre-COVID High and COVID Low" indicator is designed to identify and mark significant price levels on your chart, specifically targeting the pre-COVID-19 high and the low during the initial COVID-19 market impact. This script is particularly useful for traders who are interested in analyzing how stocks or other financial instruments reacted during the onset of the COVID-19 pandemic, providing a historical perspective that may help in making informed trading decisions.
How It Works
Date Ranges : The script uses predefined date ranges to calculate the highest and lowest price levels before and during the early stages of the COVID-19 pandemic. These ranges are:
Pre-COVID High: Between January 1, 2020, and March 31, 2020.
COVID Low: Between March 1, 2020, and March 31, 2020.
Calculation Method :
The highest price during the pre-COVID period is tracked and recorded as the "Pre-COVID High".
The lowest price during the specified COVID period is tracked and recorded as the "COVID Low".
Visibility Conditions : The script includes logic to ensure that these historical levels are only displayed if they fall within a range close to the current visible price range on the chart. This prevents the indicator from compressing the price scale unduly.
How to Use It
Adding to Your Char t: To use this indicator, add it to any chart on TradingView. It works best with daily time frames to clearly visualize the impact over these specific months.
Interpretation :
The "Pre-COVID High" is marked with a red line and is labeled the first day it becomes applicable.
The "COVID Low" is marked with a green line and is similarly labeled on its applicable day.
Trading Strategy Consideration : Traders can use these historical levels as potential support or resistance zones for their trading strategies. These levels can indicate significant price points where the market previously showed strong reactions.
Percentage GridPercentage Grid Indicator
Description:
The Percentage Grid indicator is designed to assist traders in identifying significant support and resistance levels based on yearly percentage changes. This indicator plots horizontal lines on the chart from the start of the year, allowing you to customize how much percentage each line represents. Currently, you can set up to 5 horizontal lines, each representing a different percentage change from the beginning of the year.
For instance, when applied to the SBI Bank stock, you can customize the lines to display various percentage changes from the start of the year, such as 20%, 25%, and up to 35%, as the SBIN stock is currently trading around these levels. This visualization helps traders to easily identify key levels where price action tends to react, providing valuable insights for making trading decisions.
Principles of Trading Technical Analysis:
The Percentage Grid indicator is grounded in the principle of support and resistance levels, which are fundamental concepts in technical analysis. These levels are specific price points on a chart that tend to act as barriers, preventing the price from getting pushed in a certain direction. The indicator helps in:
Identifying Support Levels: Price levels where a downtrend can be expected to pause due to a concentration of buying interest.
Identifying Resistance Levels: Price levels where an uptrend can be expected to pause due to a concentration of selling interest.
By customizing and plotting percentage-based horizontal lines, the indicator highlights these critical levels based on the percentage change from the start of the year.
How to Use:
Add the Indicator to Your Chart:
Search for "Percentage Grid" in the TradingView indicator library and add it to your chart.
Customize Percentage Levels:
Access the indicator settings to customize the percentage change each line represents.
You can set up to 5 different percentage levels. For example, you can set lines at 20%, 25%, 30%, 35%, and 40%.
Interpret the Grid Lines:
The plotted lines will represent the specified percentage changes from the start of the year.
Use these lines to identify potential support and resistance levels where price action is likely to react.
Practical Application:
Look for price bounces or reversals around these levels, which can indicate strong support or resistance.
Combine the Percentage Grid with other technical analysis tools, such as moving averages or trend lines, to confirm potential trading opportunities.
Example:
In the accompanying screenshot, the Percentage Grid is applied to the SBI Bank stock. The lines are set to display 20%, 25%, 30%, 35%, and 40% changes from the start of the year. Notice how the price action respects these levels, providing clear areas where support and resistance are evident.
By incorporating the Percentage Grid into your trading strategy, you can enhance your ability to identify key price levels and make more informed trading decisions.
Happy Trading!
Moving Average Bands with Signals [UAlgo]The "Moving Average Bands with Signals combines various moving average types with ATR-based bands to help traders identify potential support and resistance levels.
It plots moving average bands with upper and lower support/resistance levels based on the Average True Range (ATR) and user-defined settings.Additionally, the script generates buy/sell signals based on price crossing above or below the bands.
🔶 Key Features
Multiple Moving Average Types:
Supports various moving average calculations including Arnaud Legoux Moving Average (ALMA), Exponential Moving Average (EMA), Double Exponential Moving Average (DEMA), Triple Exponential Moving Average (TEMA), Kaufman Adaptive Moving Average (KAMA), Hull Moving Average (HMA), Least Squares Moving Average (LSMA), Simple Moving Average (SMA), Triangular Moving Average (TMA), Volume-Weighted Moving Average (VWMA), Weighted Moving Average (WMA), and Zero-Lag Moving Average (ZLMA).
Customizable ATR Bands:
Integrates the Average True Range (ATR) to calculate dynamic support and resistance bands around the moving average. The multiplier for the bands is user-adjustable, allowing for finer control over the sensitivity and width of the bands.
Signal Generation:
Provides visual signals on the chart when the price interacts with the support or resistance bands. Users can choose between using the wick or the close price to generate these signals, adding an extra layer of customization based on their trading style.
Flexible Input Parameters:
Allows users to input parameters for moving average length, ATR length, band multiplier, and signal type. Additional settings are available for specific moving average types, such as ALMA's offset and sigma, KAMA's fast and slow periods, and LSMA's offset.
🔶 Disclaimer
This script is provided for educational purposes only and should not be considered financial advice.
Trading financial instruments involves substantial risk and can result in significant financial losses.
The script’s performance in the past is not indicative of future results, and no guarantees are made regarding its accuracy, reliability, or performance.
F.B_Volume Weighted Average Price MTFThe F.B_Volume Weighted Average Price MTF (VWAP MTF) indicator calculates the volume-weighted average price of a security across different timeframes. The VWAP is a powerful indicator used by both institutional and retail traders to make better trading decisions.
Functionality:
Timeframe:
The indicator allows you to adjust the timeframe for the VWAP calculation via the settings. By default, the timeframe is set to weekly ("W").
Restart at new timeframe:
At each new period in the chosen timeframe, the VWAP calculations are reset, and a new VWAP is calculated.
VWAP Calculation:
The VWAP is calculated by the volume-weighted average of the typical prices (High, Low, and Close) of the security. This calculation takes into account the volume of each transaction to provide an accurate average price.
Visualization:
The VWAP is displayed as a line on the chart, and the color of the line changes depending on the price position relative to the VWAP:
Green: The current closing price is above the VWAP (bullish signal).
Red: The current closing price is below the VWAP (bearish signal).
Options:
Show barcolors:
This option allows you to display the colors of the candles based on their position relative to the VWAP (green for bullish, red for bearish).
Show previous VWAP close:
This option shows the closing value of the VWAP from the previous period to provide historical reference points.
Interpretation:
Bullish Signal:
If the current price is above the VWAP, this indicates that the market trend is upward, which could be considered a buying opportunity.
Bearish Signal:
If the current price is below the VWAP, this indicates that the market trend is downward, which could be considered a selling signal.
ICT KillZones Hunt [TradingFinder] 4 Sessions + OB + FVG + Alert🔵 Introduction
🟣 ICT
The "ICT" style is a subset of "Price Action" technical analysis. The primary goal of the ICT trading strategy is to merge "Price Action" with the "Smart Money" concept to pinpoint optimal trade entry points.
However, this approach's strength extends beyond merely finding entry points. It also helps traders gain a deeper understanding of price behavior and adapt their trading strategies to the market structure.
The most important concepts of "ICT" :
Order Block
Fair Value Gap(FVG)
Liquidity
🟣 Session
Financial markets are divided into several time periods, each featuring distinct characteristics and levels of activity. These periods, known as sessions, are active at different times during the day.
The primary active sessions in financial markets include :
Asian Session
European Session
New York Session
Based on the UTC time zone, the schedule for these key sessions is :
Asian Session: 23:00 to 06:00
European Session: 07:00 to 16:30
New York Session: 13:00 to 22:00
Note
To avoid session overlap and minimize interference during kill zones, the session times have been modified as follows :
Asian Session: 23:00 to 06:00
European Session: 07:00 to 14:25
New York Session: 14:30 to 22:55
🟣 KillZone
Kill zones are periods within a session where trader activity spikes. During these times, trading volume surges, and price movements become more pronounced.
The major kill zones, according to the UTC time zone, are as follows :
Asian Kill Zone: 23:00 to 03:55
European Kill Zone: 07:00 to 09:55
New York Morning Kill Zone: 14:30 to 16:55
New York Evening Kill Zone: 19:30 to 20:55
🔵 How to Use
🟣 Order Block
Order blocks are a distinct category of "Supply and Demand" zones, formed when a series of orders are grouped together. These blocks are often created by banks or other significant market participants.
Banks typically execute large orders in blocks during their trading sessions. If they were to enter the market with small quantities, substantial price movements would occur before the orders were fully executed, reducing potential profit.
To mitigate this, they divide their orders into smaller, more manageable positions. Traders should seek "buy" opportunities in "demand order blocks" and "sell" opportunities in "supply order blocks."
🟣 Fair Value Gap (FVG)
To pinpoint the "Fair Value Gap" on the chart, meticulous candle-by-candle analysis is essential. Pay close attention to candles with significant bodies, examining each candle alongside the one preceding it.
The candles flanking this central candle should exhibit elongated shadows, with bodies that do not intersect the body of the central candle. The span between the shadows of the first and third candles is referred to as the FVG range.
Note :
The origin of all Order Blocks and FVGs starts from inside a kill zone and extends up to the end of the same session.
🟣 Kill Zone Hunt
Following this strategy, after the conclusion of the kill zone and the stabilization of its high and low lines, if the price touches either of these lines within the same session and encounters a robust rejection, it presents an opportunity to enter a trade.
🔵 Setting
🟣 Global Setting
Show All Order Block :
If it is turned off, only the last Order Block will be displayed.
Show All FVG :
If it is turned off, only the last FVG will be displayed.
Show More Info Session :
If it is turned on, more information about kill zones (Trade Volume, Time, Number of Candles) will be displayed.
🟣 Logic Parameter
Pivot Period of Order Blocks Detector :
Enter the desired pivot period to identify the Order Block.
Order Block Validity Period (Bar) :
You can specify the maximum time the Order Block remains valid based on the number of candles from the origin.
Mitigation Level Order Block :
Determining the basic level of a block order. When the price hits the basic level, the order block due to mitigation.
🟣 Order Blocks Display
Demand Order Block :
Show or not show and specify color.
Supply order Block :
Show or not show and specify color.
🟣 Order Block Refinement
Refine Demand OB :
Enable or disable the refinement feature. Mode selection.
Refine Supply OB :
Enable or disable the refinement feature. Mode selection.
🟣 FVG
FVG Validity Period (Bar) :
You can specify the maximum time the FVG remains valid based on the number of candles from the origin.
Mitigation Level FVG :
Determining the basic level of a FVG. When the price hits the basic level, the FVG due to mitigation.
Show Demand FVG :
Show or not show and specify color.
Show Supply FVG :
Show or not show and specify color.
FVG Filter :
Enable or disable filtering of FVGs. Select filter mode.
🟣 Session
Show More Info Session Color
Asia Session, London Sesseion, New York am Session & New York pm Session :
Show or not show session and kill zones. Change the display color.
🟣 Alert
Send Alert When Touched Session high & Low :
On / Off
Alert Demand OB Mitigation :
On / Off
Alert Supply OB Mitigation :
On / Off
Alert Demand FVG Mitigation :
On / Off
Alert Supply FVG Mitigation :
On / Off
Message Frequency :
This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone :
The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
Display More Info :
Displays information about the price range of the order blocks (Zone Price) and the date, hour, and minute under "Display More Info". If you do not want this information to appear in the received message along with the alert, you should set it to "Off".
Low and High Values [Alorse]🌟 What does this indicator do?
This magical indicator shows you the lowest (Low) and highest (High) values of the last X candles directly on your chart. Not only that, but it also tells you how much the price has changed from the opening price of the current candle to these key points, all in percentage format. You'll have a clear and precise view of market movement!
🔧 Customize to your liking
Want to adjust the number of candles to consider? No problem! You can easily change this parameter to suit your preference. Whether you like short-term strategies with just a few candles or prefer more extensive analysis with many candles, our indicator adapts to you.
🚀 How can this indicator help you?
Identify Support and Resistance: By showing the lowest and highest points, it helps you identify key support and resistance levels. Perfect for planning your entries and exits!
Trend Analysis: With the percentage labels, you can quickly see how the price has moved relative to recent extremes, helping you confirm trends or anticipate possible reversals.
Trading Strategies: Imagine the price is near a recent low, but the percentage indicates a significant drop from the opening. This could be a buy signal if you expect a rebound. Conversely, if the price is near a recent high with a large percentage increase, you might consider selling.
Calculate Stop Loss: Use this indicator to determine your Stop Loss levels by leaving a bit of margin between the indicator value and your desired SL. This helps protect your positions while allowing for some price fluctuation.
📊 Examples of Use
Intraday Trader: Use the indicator with 10-20 candles to capture quick moves and capitalize on daily fluctuations.
Mid-term Trader: Set the indicator to consider 50 candles for a broader view of trends and reversal points.
Long-term Strategist: Adjust the indicator to 100 candles or more to identify highs and lows over larger time frames.
🛠️ Customizable Parameters
Number of Candles: Define the number of candles the indicator will analyze to calculate the lowest and highest values. It's all up to you!
