The Flip by Tren10x

1 авг.

What the Script Does:

• "The Flip" is a simple trading script designed to enhance market analysis and trading decisions by detecting key price levels and timeframe shifts. It identifies when timeframes switch from bullish to bearish or vice versa and displays this information using the 50% levels and the Full Time Frame Continuity (FTFC) table.

How the Script Works:
Detection of Key Levels:

• 50% Level of the Previous Candle: The script calculates and displays the midpoint of the previous candle, helping traders quickly identify potential reversal points and key support or resistance levels.
  
• Opening Print Levels: The script tracks the opening prices for various timeframes (Day, Week, Month, Quarter, and Year), indicating whether the current price is above or below these levels to understand market sentiment and trends.
  
• High/Low Levels: It monitors and displays the Previous Day High/Low, Week High/Low, Month High/Low, Quarter High/Low, and Year High/Low, highlighting significant price levels and potential breakout or breakdown points.
  

Full Time Frame Continuity Table:

• The script provides a visual table showing the alignment of different timeframes (bullish or bearish), allowing traders to make informed decisions based on the overall market structure.
  

How to Use the Script:
Add to Chart:

• Load "The Flip" script onto your TradingView chart.

Customize Settings:

• Adjust the appearance and display settings to fit your trading preferences.

Analyze the Chart:

• Use the 50% level of the previous candle to identify potential reversal points.
  
• Track the opening print levels for various timeframes to gauge market sentiment.
  
• Monitor the high/low levels to spot significant price levels and potential breakout or breakdown points.
  
• Refer to the FTFC table to see the alignment of different timeframes and make decisions based on the overall market structure.

What Makes This Script Original:
Integration with "The Strat"

• Inspired by "The Strat" created by Rob Smith, "The Flip" focuses on the critical moment when timeframes switch from bullish to bearish or vice versa, providing a unique perspective on market movements.

Comprehensive Market View:

• By displaying the 50% level of the previous candle, opening print levels, high/low levels, and a full time frame continuity table, the script offers a holistic view of the market, helping traders make more informed decisions.

User-Friendly Visualization:

The script's visual indicators and FTFC table make it easy to quickly assess market conditions and potential trading opportunities, enhancing both the efficiency and effectiveness of market analysis.

When Full Time-Frame Continuity is bullish, you will see a green check mark ✔️, indicating all major timeframes (Daily, Weekly, Month, Quarter, and Year) are aligned.


When Full Time-Frame Continuity is bearish, you will see a red drop 🩸, indicating all major timeframes (Daily, Weekly, Month, Quarter, and Year) are aligned.


Otherwise, you will see mixed timeframes.