TouchedLibrary "Touched"
Breakout(zone, lookback)
Tells if the zone has been broken on the current bar.
Parameters:
zone (Zone) : The definitiin of the zone.
lookback (int) : How many bars to look back.
Returns: a Touch object that tells if the zone has been broken up or down.
FalseBreakout(zone, lookback)
Tells if the zone has a false breakout on the current bar.
Parameters:
zone (Zone) : The definitiin of the zone.
lookback (int) : How many bars to look back.
Returns: a Touch object that tells if the zone has had a false breakout up or down.
Retest(zone, lookback)
Tells if the zone has been retested on the current bar.
Parameters:
zone (Zone) : The definitiin of the zone.
lookback (int) : How many bars to look back.
Returns: a Touch object that tells if the zone has been retested up or down.
Zone
Fields:
High (series__float)
Low (series__float)
BaseTime (series__integer)
Touch
Fields:
Up (series__bool)
Down (series__bool)
Breakout
Market Structure (Breakers) [LuxAlgo]The Market Structure (Breakers) indicator aims to detect "Breaker Market Structures", an original concept inspired by breaker blocks, and extend on the original concept of market structures by extending existing MS levels, providing supports/resistances as a result.
Various graphical elements are included that highlight the interactions between price and Breaker structures.
🔶 USAGE
Breaker structures occur when a market structure is confirmed (price breaking a previous swing level). The broken swing point is extended by a dotted line which can be used as potential support or resistance.
After a market structure, the price can eventually reverse and break one or multiple breaker structures at the same time, allowing for the detection of new trends in the price.
A market structure closer to the top/bottom of a trend can return Breaker structures breakouts more indicative of potential reversals.
Breakers MS breakouts can also be useful as exits for entries done using market market structures.
The script additionally highlights support/resistance events by highlighting candle borders, with a border using a green color indicating support events while a red color is indicative of a resistance event.
🔹 Breaker Structure Lifespan
The "lifespan" of Breaker structures, that is the amount of time the script will extend/evaluate them is determined by various user settings.
The Maximum Breaks setting determines the maximum amount of breaks a breaker structure can withstand before it is broken.
For example, a maximum amount of breaks of 3 for a bearish breaker structure would require the price to cross under that precise breaker structure level three times. Using higher values of this setting will also highlight more Breakers MS.
The Breaker Maximum Duration setting on the other hand determines how many bars a breaker structure can be evaluated without being broken. If a breaker structure is not broken after this amount of bars then it will stop being evaluated and will be removed.
🔶 SETTINGS
Swings Period: Period used for the swing detection, with higher values returning longer term markter structures.
Maximum Breaks: Amount of break required for a breaker block to be considered broken.
Breaker Maximum Duration: Maximum duration of a breaker block (in bars).
Ranges With Targets [ChartPrime]The Ranges With Targets indicator is a tool designed to assist traders in identifying potential trading opportunities on a chart derived from breakout trading. It dynamically outlines ranges with boxes in real-time, providing a visual representation of price movements. When a breakout occurs from a range, the indicator will begin coloring the candles. A green candle signals a long breakout, suggesting a potential upward movement, while a red candle indicates a short breakout, suggesting a potential downward movement. Grey candles indicate periods with no active trade. Ranges are derived from daily changes in price action.
This indicator builds upon the common breakout theory in trading whereby when price breaks out of a range; it may indicate continuation in a trend.
Additionally, users have the ability to customize their risk-reward settings through a multiplier referred to as the Target input. This allows traders to set their Take Profit (TP) and Stop Loss (SL) levels according to their specific risk tolerance and trading strategy.
Furthermore, the indicator offers an optional stop loss setting that can automatically exit losing trades, providing an additional layer of risk management for users who choose to utilize this feature.
A dashboard is provided in the top right showing the statistics and performance of the indicator; winning trades; losing trades, gross profit and loss and PNL. This can be useful when analyzing the success of breakout trading on a particular asset or timeframe.
Trend Line XrossTrend Line Xross (TLX) Uses User Input Points to draw trendlines and displays the exact intersection point of those trendlines.
This is the public indicator of the practical application for this intersection method included in my entry for Pinefest #1.
To determine the exact intersection point I am using the y-intercept method as seen below.
The code is notated for more information on the technical workings.
One difference to note between this version and the pinefest version is that I had to change the line drawings to use bar_index values so that I can use line.get_price() to grab the current value of the line to make alerts from.
Additionally, there are alerts built-in to this version for every type of cross on all of the visible lines.
Enjoy!
Session Breakout/Sweep with alertsThis indicator is based on popular London breakout strategy. but as I noticed that it don't work good with breakouts so I made it to be used as reversal entries as well. By default the timing is set for asian session but you can change it according to your need.
Use as breakout
Use as liquidity sweep
Note:
On some pairs the timing changes automatically (I don't know why), if you face this issue , go to settings and set the timing accordingly and save it as templet so that you don't have to change it every time you load the chart with timing issue.
I hope you guys find it useful. Do share your though and feedback in comments.
Trend Lines [LuxAlgo]Our new "Trend Lines" indicator detects and highlights relevant trendlines on the user chart while keeping it free of as much clutter as possible.
The indicator is thought for real-time usage and includes several filters as well as the ability to estimate trendline angles.
🔶 USAGE
Trendlines can act as support/resistance, with a higher number of tests indicating a more significant support/resistance role.
A broken TrendLine can be indicative of a potential trend reversal. The script highlights breaks with a label.
Users can additionally filter trendlines, only showing trendlines whose angles fall within a user set range:
This allows for the removal of potential clutter from the chart but also helps keep steeper or more horizontal trendlines.
🔶 DETAILS
When a swing (pivot point) is found, a Trendline is drawn when certain conditions are fulfilled.
An essential condition is that a Bearish Trendline (red) always occurs on a lower high, while a Bullish Trendline (blue) occurs on a higher low.
Our implementation will first show an initial dotted-styled TrendLine on confirmation, after which a solid-styled secondary TrendLine will develop. The latter will be used for the real-time detection of breaks at that line:
Furthermore, the script allows you to add more conditions:
🔹 Length (Swings)
A swing develops when a high/low is the highest/lowest against x highs/lows on the left AND right of that bar. x can be set by "Length" in settings.
The following images clarify this. The script confirms a swing where the yellow flag is shown; the high (here visualized with a purple label) is the highest point against x bars left and right of that point.
At that moment, this swing is checked against the previous swing. If all conditions are fulfilled, an initial TrendLine is drawn on confirmation.
After that point, a secondary thicker solid line is seen which keeps progressing bar after bar, until:
• a new TrendLine is formed
• the TrendLine is broken
🔹 Breaks between Swings
Once there is confirmation that a TrendLine can be drawn, the script allows you to filter for breakthroughs on that line. This can be set with "Check breaks between"
Disabled : the initial TrendLine is allowed to be pierced:
Check breaks between point A - point B : no breaks are allowed between both Swing points:
Point A - Current bar : no breaks are allowed between the first Swing point and the point of confirmation ('current' bar):
🔹 TrendLine breaks
As mentioned, the secondary TrendLine (solid line) progresses bar after bar until a new TrendLine is formed or the TrendLine is broken. When a TrendLine is broken, the TrendLine stops progressing, but if there isn't a new TrendLine and price return back, the TrendLine will re-appear, potentially giving several signals when the TrendLine is broken again.
Minimal bars allow you to regulate the amount of signals when the TrendLine is broken.
-> The secondary TrendLine must be uninterrupted for at least x bars before a potential break can be considered.
The following example shows 1 signal against 3 by adjusting this setting from 2 to 5:
🔹 Angles
Angles should normally be calculated when the units of the X and Y axis are the same. However, on our charts, the unit of the X-axis is bar_index (bars), and on the Y-axis the unit is price (¥, €, £, $,...).
It is not easy to normalize and create reasonably valid angles. Often certain angle calculations can differ through price changes or volatility.
Our calculate_slope() function tries to make corresponding angles through all bars.
We do this by calculating the difference between the highest/lowest price values in a certain bar range. The bar range is our X-axis, and the price difference is our Y-axis.
Zooming in/out will not change the amount of bars or the price. Since it does change our view on the chart, and thereby how we see the angles, we have included a setting where you can personalize the ratio between X and Y-axis (Angles -> Ratio X-Y axis).
Settings: Angles - Ratio X-Y axis:
🔶 SETTINGS
🔹 Swings
Length: Lookback period for the detection of swing points.
🔹 Trendline validation
Check breaks between :
Disabled : the initial TrendLine is allowed to be pierced
Check breaks between point A - point B : no breaks are allowed between both Swing points
Point A - Current bar : no breaks are allowed between the first Swing point and the point of confirmation ('current' bar)
Source (breaks) : Source which invalidates TrendLine, default: close
🔹 TrendLine breaks
Minimal bars : The secondary TrendLine must be uninterrupted for at least x bars before a potential break can be considered.
🔹 Angles
Show : Toggle labels.
Ratio X-Y axis : Every user has his preferences regarding zoom, chart layout,...
If the shown angles are not according to your expectations, you can adjust this number.
Only TrendLine between : Only allow TrendLines between the minimum and maximum degrees. Set only the minimal and maximum values above 0.
RSI Box Strategy (pseudo- Grid Bot)This is a strategy intended primarily for algorithmic traders. It's a pseudo-grid bot that uses a dynamic, volume-weighted grid that only updates when the RSI meets certain conditions. It's also a breakout strategy, whereas normal grid bots are not (typical grid bots sell when a higher grid is reached, whereas this strategy sells when a lower grid is breached under specific conditions). This strategy also sells 100% of pyramiding orders on close.
In a nutshell, the strategy updates its grid to the volume-weighted highest/lowest values of your given source ("src" in the settings) each time that there is a RSI crossunder/crossover. From this range it produces an evenly-spaced grid of five lines, and uses the current source to determine which grid line is closest to the source. Then, if the source crosses over the line directly above the current line, it enters a buy order. If the source crosses under the line directly below the current line, it enters a sell order.
You can configure shorts, source, RSI length, and overbought/oversold levels in the settings.
For the strategy results below: fees are at 0.1% per trade, with order size 1% of equity and a max pyramiding value of 33. For a greater R/R profile, you can increase the order size, which will increase drawdown but potentially yield better results.
Range Detector [LuxAlgo]The Range Detector indicator aims to detect and highlight intervals where prices are ranging. The extremities of the ranges are highlighted in real-time, with breakouts being indicated by the color changes of the extremities.
🔶 USAGE
Ranging prices are defined by a period of stationarity, that is where prices move within a specific range.
Detecting ranging markets is a common task performed manually by traders. Price breaking one of the extremities of a range can be indicative of a new trend, with an uptrend if price breaks the upper range extremity, and a downtrend if price breaks the lower range extremity.
Ranges are highlighted as zones and are set retrospectively, that is the starting point of a range is offset in the past. The exact moment a range is detected is highlighted by a gray background color. The average between the maximum/minimum of a zone is also highlighted as a dotted line and is also set retrospectively.
The range extremities are set in real-time, blue extremities indicate the range extremities were not broken, green extremities indicate that price broke the upper range extremity, while red extremities indicate price broke the lower range extremity.
Extremities are extended until a new range is detected, allowing past ranges extremities can be used as future support/resistances.
🔶 DETAILS
The detection algorithm used to detect ranges tests if all the prices within a user-set window are all within two extremities. These extremities are determined by the mean of the detection window plus/minus an ATR value.
When a new range is detected, the script checks if this new range overlaps with a previously detected range, if this is the case, both ranges are merged into one; updating the extremities of the previous range.
This can be observed with the real-time extremities changing within a highlighted zone.
🔶 SETTINGS
Minimum Range Length: Minimum amount of bars needed to detect a range.
Range Width: Multiplicative factor for the ATR used to detect new ranges. Lower values detect ranges with a lower width. Using higher values might return false positives.
ATR Length: ATR length used to determine the range width.
Range Breakout Signals (Intrabar) [LuxAlgo]The Range Breakout Signals (Intrabar) is a novel indicator highlighting trending/ranging intrabar candles and providing signals when the price breaks the extremities of a ranging intrabar candles.
🔶 USAGE
The indicator highlights candles with trending intrabar prices, with uptrending candles being highlighted in green, and down-trending candles being highlighted in red.
This highlighting is affected by the selected intrabar timeframe, with a lower timeframe returning a more precise estimation of a candle trending/ranging state.
When a candle intrabar prices are ranging the body of the candle is hidden from the chart, and one upper & lower extremities are displayed, the upper extremity is equal to the candle high and the lower extremity to the candle low. Price breaking one of these extremities generates a signal.
The indicator comes with two modes, "Trend Following" and "Reversal", these modes determine the extremities that need to be broken in order to return a signal. The "Trend Following" mode as its name suggests will provide trend-following signals, while "Reversal" will aim at providing early signals suggesting a potential reversal.
🔶 DETAILS
To determine if intrabar prices are trending or ranging we calculate the r-squared of the intrabar data, if the r-squared is above 0.5 it would suggest that lower time frame prices are trending, else ranging.
This approach allows almost obtaining a "settings" free indicator, which is uncommon. The intrabar timeframe setting only controls the intrabar precision, with a timeframe significantly lower than the chart timeframe returning more intrabar data as a result, this however might not necessarily affect the displayed information by the indicator.
🔶 SETTINGS
Intrabar Timeframe: Timeframe used to retrieve the intrabar data within a chart candle. Must be lower than the user chart timeframe.
Auto: Select the intrabar timeframe automatically. This setting is more adapted to intraday charts.
Mode: Signal generation mode.
Filter Out Successive Signals: Allows removing successive signals of the same type, returning a more easily readable chart.
The Opening Range / First Bar By Market Mindset - Zero To EndlesThe script shows the opening range of the instrument based on different resolutions and timeframes.
Inputs :
1. Resolution
It decides the calculation frequency of the script.
In Auto resolution, Standard values have been used.
2. Timeframe
It decides the timeframe for the OHLC values.
By default, it will use the chart timeframe and so chart OHLC values.
3. Lookback
It decides the no. of ranges shown on the chart.
Middle Line can be hidden from the settings.
The script can be used for any instrument and on any timeframe.
If price is above the opening range or the middle line, a trader should look for long opportunities.
If price is below the opening range or the middle line, a trader should look for short opportunities.
A sideways or choppy move is exoected if Middle line is crossed again and again.
For trading, wait for atleast 1st bar to close. and let the opening range build up first.
Happy Trading
blackOrb ZoneBuying near the bottom and selling near the peak can be a challenging trading approach. However, it all begins with the ability to identify these essential zones. This indicator is targeting support and resistance with heightened accuracy. It utilizes features like:
I. Multi-Level Weighting for Enhanced Support and Resistance Zones
II. Vertical Zone Range Adjustment for Enhanced Price Level Identification
III. High-Time Frame for Solid Macro Validation
IV. Projection Function for Informed Trade Management
V. Automatic Level Identification for Pinpointing Potential Order Positions
VI. Customizable Pivot Analysis for Accurate Zone Identifications
Technical Methodology
I. Multi-Level Weighting for Enhanced Support and Resistance Zones
Support and resistance are more accurately represented as wider zones rather than singular lines. In practical application, relevant support or resistance levels often converge around a central mean-weighted level within a zone.
This indicator visually represents these zones by calculating values from open, high, low, and close prices, accentuating them through varying opacities. Higher opacity within an area indicates a higher likelihood of it serving as a relevant support or resistance level.
Multiple mean options within the settings menu encompass weighted average calculations that utilize different combinations of price data within the relevant pivot analysis phase. This versatility allows users to target pertinent levels within a zone. For instance, when employing hlcc4 price data, the calculation is as follows:
mean_price_hlcc4 = (high + low + close + close) / 4
II. Vertical Zone Range Adjustment for Enhanced Price Level Identification
This feature enables users to precisely adjust the vertical zone range for price references within potential support or resistance phases. For instance, decreasing the reference setting results in a more granular validation within a narrower range. This creates vertically thinner zones with increased price level precision, although it may offer a less comprehensive perspective.
III. High-Time Frame for Solid Macro Validation
The indicator enhances pivot points, potentially in conjunction with high-time frame validation, to identify significant price zones with heightened confirmation strength driven by volume. Higher time frames provide more extensive volume verification, for instance, comparing the 4-hour to the 24-hour timeframe (a multiple of six).
This feature involves cross-referencing data from higher time frames, heightening the reliability of support and resistance zones and providing valuable insights into potential trading interest levels.
Technically, the indicator applies the identical rigorous analysis to both lower and higher time frames. This approach facilitates a more comprehensive perspective and aids in the clearer identification of overarching macro support and resistance levels, even when focusing on smaller timeframes. For instance, a potential support zone identified on the daily time frame can gain higher confidence when confirmed on a weekly chart.
IV. Projection Function for Informed Trade Management
The projection function visually extends the most recent analysis of support and resistance zones forward, in accordance with the user's configured parameters.
By displaying precise price values at these visualized support and resistance levels, this indicator offers valuable assistance in decision-making, particularly when planning real-time orders or when engaged in an active trade management phase (e.g., for the purpose of adjusting stop-loss levels post-entry).
Note: This function is based on historical data. It may not account for unforeseen market events. It's important to complement this feature with ongoing analysis of real-time market data.
V. Automatic Level Identification for Pinpointing Potential Order Positions
It is empirically observed that traders frequently position orders at price levels that conform to quantized values due to cognitive biases.*
Consequently, blackOrb Zone not only facilitates the identification of pertinent levels within a weighted zone but also features an "auto" functionality designed to analyze price dynamics in the proximity of these relevant levels. The objective is to identify discrete values in close vicinity, which exhibit a higher likelihood of serving as authentic support and resistance zones.
This processing approach assists traders in precisely locating the central mean-weighted level within a given zone and identifies proximate quantized levels.
Note: This method becomes especially relevant during phases of price retesting, where market participants converge, contributing to a further refinement of levels, indicative of an asymmetric balance between supply and demand.
*Source: Prof. Mitchell, Jason. "Clustering and Psychological Barriers: The Importance of Numbers." Journal of Futures Markets, vol. 21, no. 5, 2001, pp. 395-428.
VI. Customizable Pivot Analysis for Accurate Zone Identifications
The indicator employs pivot points to pinpoint key price zones where price dynamics could encounter buying or selling pressure.
Essential components of this method involve comparing time units both to the left and right within a designated phase of support or resistance, effectively defining the search range for pivotal points.
For instance, in the analysis below, the search is for the highest price point that hasn't been surpassed within a certain resistance zone in the last 10 time units to the left and 10 time units to the right:
ta.pivothigh(10, 10)
Potential Trade Management Applications of blackOrb Zone
- Reversal Trading : Robust support zones with bullish signals can indicate opportune moments for buying or long position entries, whereas confirmed resistance zones can be identified for selling or short position entries.
- Breakout Trading : Anticipating price surges as price breach support or resistance level. A resistance breakout can signal a bullish price dynamic, while a support breakdown may suggest a bearish price dynamic.
- Range Trading : In lateral sideways markets, users can capitalize on support zones for buying and resistance zones for selling, profiting from price fluctuations.
- Take-Profit Management : For buying or long positions, resistance zones can be identified to determine suitable take-profit levels either within or near these zones - for short positions, vice versa with support zones.
- Stop-Loss Management : For buying or long positions, support zones can be identified to determine appropriate stop-loss levels beneath these zones - for short positions, vice versa with resistance zones to determine stop-loss levels above these zones.
Note on Usability
blackOrb Zone can have synergies with blackOrb Price as both indicators combined can give a bigger picture for supporting comprehensive and multifaceted data-driven trading analysis.
This tool was meticulously created to serve as an additional frame for the seamless integration of other more granular trading indicators. This indicator isn't intended for standalone trading application. Instead, it is serving as a supplementary tool for orientation within broader trading strategies.
Irrespective of market conditions, it can harmonize with a wider range of trading styles and instruments / trading pairs / indices like Stocks, Gold, FX, EURUSD, SPX500, GBPUSD, BTCUSD and Oil.
Inspiration and Publishing
Taking genesis from the inspirations amongst others provided by TradingView Pine Script Wizard Kodify, blackOrb Zone is a multi-encompassing script meticulously forged from scratch. It aspires to furnish a comprehensive approach, borne out of personal experiences and a strong dedication in supporting the trading community. We eagerly await valuable feedback to refine and further enhance this tool.
Buy/Sell BoxThis indicator tries to identify the points where the price exceeds or falls below a rectangle based on the opening and closing prices of the previous period, the creation of the boxes occurs when a doji is detected therefore it will calculate the coordinates of the rectangle that will be drawn around it, therefore the indicator offers buy or sell signals based on this logic. Specifically, the buy signal is generated if the closing price is above the top of the rectangle and satisfies some previous price conditions while the sell signal is generated if the closing price is below the bottom of the rectangle and satisfies some conditions of previous prices within a further threshold based on the Ema 150.
Lines are then drawn on the graph to visually display the extreme price levels, which can be useful for any confirmation of buy and sell signals, Stop Loss and Take Profit, Trend Filter (to visually understand if the trend is bullish or bearish)
A potentially effective trading strategy could involve identifying buy and sell signals near the extreme price level lines drawn by the indicator. This approach can be used to try to improve the accuracy of your trading signals and make more informed decisions. For example:
When you receive a buy or sell signal based on the dojis and rectangles generated by the indicator, check whether the price is also near one of the extreme price level lines. If you are receiving a buy signal and notice that the current price is near a low of the lower level line, this may further confirm the buying opportunity, as the price is near a significant resistance level. On the contrary, if the sell signal was close to a maximum price level it could confirm an excellent short entry.
It is also possible to use the boxes as reference points to set the stop loss and take profit levels. If you are entering a buy position, you might consider setting your stop loss just below an upper line of the last box. Additionally, you may want to set your take profit near a higher price level if you are looking to maximize profits. This will help manage risks and protect your capital.
TrendCylinder (Expo)█ Overview
The TrendCylinder is a dynamic trading indicator designed to capture trends and volatility in an asset's price. It provides a visualization of the current trend direction and upper and lower bands that adapt to volatility changes. By using this indicator, traders can identify potential breakouts or support and resistance levels. While also gauging the volatility to generate trading ranges. The indicator is a comprehensive tool for traders navigating various market conditions by providing a sophisticated blend of trend-following and volatility-based metrics.
█ How It Works
Trend Line: The trend line is constructed using the closing prices with the influence of volatility metrics. The trend line reacts to sudden price changes based on the trend factor and step settings.
Upper & Lower Bands: These bands are not static; they are dynamically adjusted with the calculated standard deviation and Average True Range (ATR) metrics to offer a more flexible, real-world representation of potential price movements, offering an idea of the market's likely trading range.
█ How to Use
Identifying Trends
The trend line can be used to identify the current market trend. If the price is above the trend line, it indicates a bullish trend. Conversely, if the price is below the trend line, it indicates a bearish trend.
Dynamic Support and Resistance
The upper and lower bands (including the trend line) dynamically change with market volatility, acting as moving targets of support and resistance. This helps set up stop-loss or take-profit levels with a higher degree of accuracy.
Breakout vs. Reversion Strategies
Price movements beyond the bands could signify strong trends, making it ideal for breakout strategies.
Fakeouts
If the price touches one of the bands and reverses direction, it could be a fakeout. Traders may choose to trade against the breakout in such scenarios.
█ Settings
Volatility Period: Defines the look-back period for calculating volatility. Higher values adapt the bands more slowly, whereas lower values adapt them more quickly.
Trend Factor: Adjusts the sensitivity of the trend line. Higher values produce a smoother line, while lower values make it more reactive to price changes.
Trend Step: Controls the pace at which the trend line adjusts to sudden price movements. Higher values lead to a slower adjustment and a smoother line, while lower values result in quicker adjustments.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Daily Pivots with Fakeout Protection█ OVERVIEW
The "Daily Pivots with Fakeout Protection" indicator is a powerful tool designed to help traders identify potential price breakouts and pivot levels on daily charts. This indicator calculates and displays daily pivot points along with breakout lines that are adjusted to provide a certain level of protection against fakeouts, which are false price movements that can mislead traders.
█ FEATURES
• Pivot Timeframe Selection: You can choose the timeframe for the pivot calculations. The default is set to daily (D), but you have the flexibility to select other timeframes as well.
• Fakeout Protection: A percentage-based parameter allows you to define the amount of protection you want against fakeouts. This helps filter out potentially unreliable breakouts.
• Bullish and Bearish Signals: The indicator distinguishes between bullish and bearish conditions by comparing the closing price to the daily high and low.
• Breakout Signals: Triangular symbols (upward and downward) appear below and above bars to signal potential breakout points. These are based on the closing price crossing the adjusted breakout lines.
• Visual Representation: Pivot points, daily high, and daily low are plotted on the chart, with distinctive line styles and colors for easy identification.
• Background Highlighting: The background color of the chart changes when a new period begins, helping you quickly recognize the start of a new trading day.
• Color-Coded Zones: The indicator colors the background around the closing price differently based on whether the market is bullish (green) or bearish (red).
█ HOW TO USE
1 — Apply the "Daily Pivots with Fakeout Protection" indicator to your TradingView chart.
2 — Customize the parameters like pivot timeframe and fakeout protection percentage according to your trading preferences.
3 — Watch for the triangular breakout symbols that appear above and below bars, indicating potential breakout points.
4 — Keep an eye on the pivot points, daily high, and daily low lines to understand price levels relevant to the current trading day.
5 — Use the background color changes to quickly identify the beginning of a new trading day and any potential shifts in market sentiment.
Note:
• This indicator is designed for daily charts but can be adjusted to work with other timeframes as well.
• Be cautious of relying solely on breakout signals; consider using additional technical and fundamental analysis for confirmation.
Start integrating the "Daily Pivots with Fakeout Protection" indicator into your trading strategy to enhance your ability to identify breakouts and pivot levels more effectively.
Breakout Sideway Range [5ema]This indicator can find the breakout of sideway range. The range create by the bars inside the highest bar.
Compared to my previous script name Breaking Bar , this one is different in important point:
The Highest bar can be found at higher timeframe.
No have opening candles of each session.
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How to calculate?
Find the bar have full body or full bar is highest on number left bars.
The sideway range are bars inside highest bar.
Find the bar breakout highest bar are reversal candle patterns.
The highest bar can set up on higher timeframe.
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How to set up?
Change the input value of left bar to find the highest bar.
Change the input value of right bar to find the inside bar of highest.
Select the time frame to find the highest bar. Set "chart" if want to follow chart.
Select the way find highest bar, by price high and low or open and close.
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How to use?
Choose the signal buy or sell or all.
Change the color or range if want.
Hidden, display, change color background of signal bar.
Make the alert when signal appear.
Refer the signal appear on chart:
- Signal Sell:
- Signal Buy:
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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.
Support and Resistance Signals MTF [LuxAlgo]The Support and Resistance Signals MTF indicator aims to identify undoubtedly one of the key concepts of technical analysis Support and Resistance Levels and more importantly, the script aims to capture and highlight major price action movements, such as Breakouts , Tests of the Zones , Retests of the Zones , and Rejections .
The script supports Multi-TimeFrame (MTF) functionality allowing users to analyze and observe the Support and Resistance Levels/Zones and their associated Signals from a higher timeframe perspective.
This script is an extended version of our previously published Support-and-Resistance-Levels-with-Breaks script from 2020.
Identification of key support and resistance levels/zones is an essential ingredient to successful technical analysis.
🔶 USAGE
Support and resistance are key concepts that help traders understand, analyze and act on chart patterns in the financial markets. Support describes a price level where a downtrend pauses due to demand for an asset increasing, while resistance refers to a level where an uptrend reverses as a sell-off happens.
The creation of support and resistance levels comes as a result of an initial imbalance of supply/demand, which forms what we know as a swing high or swing low. This script starts its processing using the swing highs/lows. Swing Highs/Lows are levels that many of the market participants use as a historical reference to place their trading orders (buy, sell, stop loss), as a result, those price levels potentially become and serve as key support and resistance levels.
One of the important features of the script is the signals it provides. The script follows the major price movements and highlights them on the chart.
🔹 Breakouts (non-repaint)
A breakout is a price moving outside a defined support or resistance level, the significance of the breakout can be measured by examining the volume. This script is not filtering them based on volume but provides volume information for the bar where the breakout takes place.
🔹 Retests
Retest is a case where the price action breaches a zone and then revisits the level breached.
🔹 Tests
Test is a case where the price action touches the support or resistance zones.
🔹 Rejections
Rejections are pin bar patterns with high trading volume.
Finally, Multi TimeFrame (MTF) functionality allows users to analyze and observe the Support and Resistance Levels/Zones and their associated Signals from a higher timeframe perspective.
🔶 SETTINGS
The script takes into account user-defined parameters to detect and highlight the zones, levels, and signals.
🔹 Support & Resistance Settings
Detection Timeframe: Set the indicator resolution, the users may examine higher timeframe detection on their chart timeframe.
Detection Length: Swing levels detection length
Check Previous Historical S&R Level: enables the script to check the previous historical levels.
🔹 Signals
Breakouts: Toggles the visibility of the Breakouts, enables customization of the color and the size of the visuals
Tests: Toggles the visibility of the Tests, enables customization of the color and the size of the visuals
Retests: Toggles the visibility of the Retests, enables customization of the color and the size of the visuals
Rejections: Toggles the visibility of the Rejections, enables customization of the color and the size of the visuals
🔹 Others
Sentiment Profile: Toggles the visibility of the Sentiment Profiles
Bullish Nodes: Color option for Bullish Nodes
Bearish Nodes: Color option for Bearish Nodes
🔶 RELATED SCRIPTS
Support-and-Resistance-Levels-with-Breaks
Buyside-Sellside-Liquidity
Liquidity-Levels-Voids
EMA Screener with Day BreakoutsThe present script is aimed at screening number of stocks as per user input with respect to Daily Exponential Moving Average. Default is set at 200 DEMA, it can be changed by the user from settings menu as per user's preference.
The EMA cell illuminates to Green if Day's Open < EMA
The EMA cell illuminates to Purple if Day's Open > EMA
EMU cell shows the price as, EMA * EMA Price Multiplier (i.e. range below EMA, customizable from settings by user)
EMU cell illuminates to light Green when Price > EMU (i.e. the price is in range of EMA, For example suppose EMA value is 1000 and EMA Price Multiplier is 0.95 then the EMU cell value will be 950 as soon as the price crosses above 950 the EMU cell will get illuminated)
EMD cell shows the price as, EMA * EMA Price Multiplier (i.e. range above EMA, customizable from settings by user)
EMD cell illuminates to red when Price < EMD (i.e. the price is in range of EMA, For example suppose EMA value is 1000 and EMA Price Multiplier is 1.05 then the EMD cell value will be 1050 as soon as the price crosses below 1050 the EMD cell will get illuminated)
The DBO (Day Break Out) cell illuminates to Blue when the current price is near Day's high.
--Dr. Vats
Disclaimer: Only for studying price movement ideas, trading is not advised.
Consolidation Spotter Multi Time FrameThis tool is designed for traders looking to spot areas of consolidation on their charts across various time frames. It highlights these consolidation areas using visually appealing boxes, making it easier to identify potential breakout or breakdown zones.
How To Use:
Spotting Consolidation: When you see a box form on your chart, this represents a consolidation zone. Within this zone, the price is moving sideways without a strong upward or downward trend.
Anticipating Breakouts & Breakdowns: Watch the price as it approaches the edges of the box. A movement outside the box can signal a potential breakout (if above the box) or a breakdown (if below the box). This is where momentum shifts can happen.
Momentum Confirmation: Once the price clearly moves out of the box, it indicates a momentum shift. If the price moves upwards out of the box, this can be seen as bullish momentum. Conversely, if the price moves downwards out of the box, this can be seen as bearish momentum.
To use the tool effectively, adjust the settings to suit your trading style, choose your preferred visual theme, and watch as the script highlights key consolidation areas on your chart.
Tip: To visualize fractals, consider using multiple instances of the "Consolidation Spotter" indicator, each set to a different timeframe. This approach allows you to observe consolidations nested within larger consolidations, offering deeper insights into market structures. 😉
Support Resistance BreakthroughThe Support Resistance Breakthrough (SRB) is a comprehensive technical indicator that aims to evaluate market strength and detect potential breakout opportunities. It integrates the following elements:
ADX (Average Directional Index): Helps measure the overall trend strength. You can adjust both the ADX length and smoothing length.
ATR (Average True Range): Provides a measure of market volatility.
RSI (Relative Strength Index): Measures the momentum and helps identify overbought or oversold conditions.
Weighting Scheme: The weighting scheme adds or subtracts a fraction of the ROC of RSI, modulated by ATR and ADX. The weighting percentage can be customized.
Normalization Option: Allows the user to plot normalized values, scaling them between 0 and 100.
Horizontal Lines: Useful reference lines at 0, 50, and 100, displayed when normalization is used.
Interpretation: When the indicator is above the 0 line (or 50 when normalized), there's a high chance of breaking through resistance. Conversely, when it's below the 0 line, there's a high chance of breaking through support. Together with a momentum indicator, such as RSI and/or Stochastic RSI, this indicator functions excellently.
The combination of these elements makes the SRB an adaptable tool for various trading strategies. It can help identify potential breakout or breakdown areas and gauge the underlying strength of the market.
Compatibility with Adjustable Fibonacci Retracement Indicator: Together with the SRB indicator, the AFIBR can make it easier to determine the likelihood of breaking through support or resistance.
mrD-Flip Zone(None repaint) [1.0]This indicator provides Flips Zones, to easily observe price action and the user can evaluate reversal zones.
This indicator also includes warnings when flip zones appear.
🔶 SETTINGS
- Current-Timeframe: Hide/Show Flips Zones in the current time frame.
- High-Timeframe: Hide/Show Flips Zones in the High time frame.
- Current Timeframe (color): Color Display Flips Zones in the current time frame.
- High Timeframe (color): Color Display Flips Zones in the current time frame.
🔶 The logic is described below:
The main characteristic that this indicator has is that it is possible to identify zones where prices can react.
The second feature that shows the best use of this indicator is that it shows the flips area of the larger timeframe in the current timeframe.
This indicator also acts as support and resistance levels.
This script is based on the function of Pivot High Low.
- New Pivot Low is identify
- New Pivot High is to identify
- New Pivot Low lower previous Pivot Low
- Upper Line of the Flips Zone is the high-price previous Pivot Low
- Lower Line of the Flips Zone is the low-price new Pivot Low
=>Flips box will be marked on the chart in the current time frame and the Flips box in the high time frame
*Special feature: the Flips box order shows different time frames.
🔶 USAGE
The Flips Zones are displayed by the script to provide can price reversal zones.
At Flips Zones, prices can reverse or continue the trend.
The Flips Zones are displayed by the script to provide price can reversal zones.
Once the Flips Zone is formed, the price action could retest. Can expect a price reversal or continue the trend.
The Flip Zones of the higher timeframe are displayed in the current timeframe according to the user's settings.
If the Flip Zones on the current timeframe and the Flip Zones on the higher timeframe overlap, Price can retest and reverse the trend quickly.
The trend can be determined by looking at the price position relative to the flips zone box. Price breaking out of flip zones is a sign of a downtrend, while price breaking above supply is a sign of an uptrend.
Note: This indicator is Non-repaint.
This indicator is great to use in confluence with other indicators or with various candlestick patterns.
Remember, don't make decisions based only on the one-time frame. Check the overall trend of the stock and look at Flip Zone in the high time frame.
🔶General disclaimer:
Trading stocks, futures, forex, options, ETFs, cryptocurrency, or any other financial instrument has huge potential rewards and risks.
You must be aware of the risks and willing to accept them to invest in stocks, futures, forex, options, ETFs, or cryptocurrencies.
Don't trade with money you can't afford to lose.
This is not an offer or an offer to Buy/Sell stocks, futures, Forex, options, ETFs, cryptocurrencies, or any other financial instrument.
Do not represent that any account will or is likely to achieve profit or loss of any kind.
The past performance of any trading system or method is not necessarily indicative of future results.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Strategy - Relative Volume GainersStrategy - Relative Volume Gainers
Overview:
This trading strategy, called "Relative Volume Gainers," is designed for Long Entry opportunities in the stock market. The strategy aims to identify potential trading candidates based on specific technical conditions, including volume, price movements, and indicator alignments.
Strategy Rules:
The strategy is focused solely on Long Entry positions.
The volume for the current trading day must be greater than or equal to the volume of the previous day.
The percentage change in price must be greater than or equal to 2.5%.
The Last Traded Price (LTP) must be greater than or equal to the Exponential Moving Average (EMA) 200.
The Relative Volume for the current trading day (calculated over the last 30 days) must be greater than or equal to the Simple Moving Average (SMA) of Relative Volume over the same 30 days.
The current candle on the chart should be Green or Bullish, indicating positive price movement.
The price difference between bid and ask prices should be kept to a minimum.
It's recommended to also analyze market depth for better insights.
Strategy Requirements:
Add the Exponential Moving Average (EMA) 200 to your trading chart.
This strategy can be applied on charts of any timeframe.
For intraday trading, particularly for early entry, consider using a 1-minute timeframe.
It is advisable to create a screener to identify potential trades in real-time market conditions.
Risk Warning:
Stocks that meet the strategy criteria might exhibit high volatility and a high beta, making them inherently risky to trade. Exercise caution and adhere to predetermined risk management strategies.
Determine your trading quantity based on your entry price and stop loss in order to manage risk effectively.
Quantity Calculation Formula:
Quantity calculation is crucial to manage risk and position sizing. The following formulas can be used based on your trading scenario:
Quantity with Leverage:
Quantity = (((Using Capital / 100) * Risk Percent) / (Entry Price - Stop Loss)) * Leverage
Eg: Quantity = (((10000 / 100) * 0.2) / (405.5 - 398.5)) * 5
Quantity = 14
Risk = Rs.100 (Rs.100 is 1% of Rs.10000. So the risk is 1%, means we lose only Rs.100 when the SL is hit. If SL is increased the Quantity will get reduced to maintain a fixed risk of Rs.100)
Quantity without Leverage:
Quantity = (((Using Capital / 100) * Risk Percent) / (Entry Price - Stop Loss))
Note:
Always stay informed about market conditions and be prepared for potential rapid price movements when trading stocks that meet the strategy criteria. Strictly adhere to your predefined risk management strategy to safeguard your capital.
Sublime Trading | Donchian Breakout SignalsWhat kind of traders/investors are we?
We are trend followers. Our scripts are designed to be used on the higher timeframes (weekly/daily) to catch the large moves/trends in the market.
Most have heard of long-term trend following. Few know how to execute the strategy.
Our scripts are designed specifically to identify and invest in long-term market trends.
What does this script do?
It produces entry signals in a confirmed bull and bear trend.
The logic is based on Donchian 20, which serves the following two purposes:
1. Confirms end-of-day entry points in a long-term trend
2. Filters out entry points in a sideways market
The signal is produced on a break and close of the Donchian 20 high in a bull trend and a break and close of the Donchian 20 low in a bear trend.
How is the entry price produced?
The entry is based on a percentage value of the range of the breakout bar added to the high of the bar in a bull trend.
In a bear trend, the percentage is subtracted from the low of the bar.
This gives an objective entry when placing a position once the OHLC of a bar is confirmed at the end of the trading day.
How is the stoploss price produced?
The script uses the formula ATR 15 x 4.
We use ATR as it produces a stoploss which is unique to the volatility of the asset. The more volatile the asset, the wider the stoploss.
We use ATR 15 as it brings an average reading across half a month, incorporating days of extreme volatility.
The multiplier 4 works well to avoid positions being stopped out prematurely on pullbacks.
When the stoploss is hit, there is when traders and investors may consider exiting positions.
What is the best timeframe to use the script?
We recommend the daily timeframe as this is where trader and investors identify and enter long-term market trends.
The higher timeframes are where traders and investors take fewer positions but hold for longer time periods.
As a result, trend followers place priority on the quality of the entry rather than quantity.
What makes this script unique?
This script has been coded specifically for the daily timeframe to:
Highlight the start of a potential long-term trends.
Confirm entry points at the end of the trading day, absorbing intraday noise.
Reduce fake breakouts in a trend.
Continue to create entry points as the trend develops to allow for compounding.
Filter out breakouts in a sideways market.
This entry signal script helps traders and investors focus on the quality of a potential position when investing in long-term market trends.
Previous Day High Low Strategy only for LongWelcome to the "Previous Day High Low Strategy only for Long"!.
This strategy aims to identify potential long trading opportunities based on the previous day's high and low prices, along with certain market strength conditions.
Key Features:
Entry Conditions: The strategy triggers a long position when the current day's closing price crosses above the previous day's high or low.
Market Strength Filter: The strategy incorporates a market strength filter using the Average Directional Index (ADX). It only takes long positions when the ADX value is above a specific threshold and when there is a predominance of upward movement.
Trade Timing: The strategy operates within a specified trade window, starting at 09:30 and ending at 15:10. Positions are closed at 15:15 if still active.
Risk Management: The strategy employs dynamic stop-loss and profit-taking levels based on a user-defined Max Profit value. It has three profit targets (T1, T2, T3) and a stop-loss level to manage risk effectively.
Rules:
Ensure that the strategy idea is clearly understandable. Provide an easy-to-read title and a thoughtful description explaining the reasoning behind the strategy.
All content should be ad-free. Avoid any form of promotion, advertising, or solicitation.
No fundraising requests or money solicitation is allowed on TradingView.
Publish in the same language as the TradingView subdomain you're on, except for script titles, which must be in English.
Don't plagiarize. Create and share only unique content, and always give credit when using someone else's work.
Be respectful, kind, and constructive when engaging with others.
Zero tolerance for contentious political discourse, defamatory, threatening, or discriminatory remarks.
Avoid sharing harmful, misleading, or inappropriate content.
Respect the moderators' work and address complaints privately.
Use only your original account and avoid creating duplicate or fake accounts.
Do not attempt to manipulate the reputation system or engage in like-for-like schemes.
Explanation of how the strategy works
1. Previous Day's High and Low (HH, LL):
In this strategy, we start by obtaining the high and low prices of the previous day (not the current day) using the request.security function. This function allows us to access historical data for a specific time frame. The high and low prices are stored in the variables HH and LL, respectively.
2. Entry Conditions:
The strategy uses two conditions to trigger a long position:
Condition 1 (Long Condition 1): If the closing price of the current day crosses above the previous day's high (HH), it generates a long signal. This is achieved using the ta.crossover function, which detects when a crossover occurs.
Condition 2 (Long Condition 2): Similarly, if the closing price of the current day crosses above the previous day's low (LL), it also generates a long signal.
Combined Condition: To take long positions, the strategy combines both long conditions using the logical OR operator (or). This means that if either of the two conditions is met, a long position will be initiated.
3. Market Strength Filter:
The strategy also includes a filter based on the Average Directional Index (ADX) to gauge the market's strength before taking long positions. The ADX measures the strength of a trend in the market. The higher the ADX value, the stronger the trend.
Calculation of ADX: The ADX is calculated using the adx function, which takes two parameters: LWdilength (DMI Length) and LWadxlength (ADX period).
Strength Condition (strength_up): The strategy requires that the ADX value should be above a threshold (11 in this case) and that there is a predominance of upward movement (up > down) before initiating a long position. The LWADX value is multiplied by 2.5 and compared to the highest value of LWADX from the last 4 periods using ta.highest(LWADX , 4). If these conditions are met, the variable strength_up is set to true.
Combined Condition: The strength_up condition is then combined with the long conditions using the logical AND operator (and). This means that the strategy will only take a long position if both the long conditions and the market strength condition are met.
4. Trade Timing:
The strategy sets a specific trade window between 09:30 and 15:10. It will only execute trades within this time frame (TradeTime).
5. Risk Management:
The strategy implements dynamic stop-loss (SL) and profit-taking levels (T1, T2, T3) based on a user-defined Max Profit value. The stop-loss is set as a percentage of the Max Profit value. As the position moves in favor of the trader, the profit targets are adjusted accordingly.
6. Position Management:
The strategy uses the strategy.entry function to enter long positions based on the combined entry conditions. Once a position is open, the script uses strategy.exit to define the exit condition when either the profit target or stop-loss level is hit. The strategy.close function is used to close any open position at the end of the trade window (15:15).
7. Plotting:
The strategy uses the plot function to visualize the previous day's high and low prices, as well as the stop-loss (SL) and profit-taking (T1, T2, T3) levels on the chart.
Overall, the "Previous Day High Low Strategy only for Long" aims to identify potential long trading opportunities based on the previous day's price action and market strength conditions. However, as with any trading strategy, it's essential to thoroughly test it and consider risk management before applying it to real-world trading scenarios.
Disclaimer:
The information presented by this strategy is for educational purposes only and should not be considered as investment advice. The strategy is not designed for qualified investors. Always conduct your own research and consult with a financial advisor before making any trading decisions.
Remember, the success of any trading strategy depends on various factors, including market conditions, risk management, and individual trading skills. Past performance is not indicative of future results.
