This Pine Script code is for an advanced trading indicator that displays enhanced moving averages with buy and sell labels, trend probability, and support/resistance levels. Here’s a detailed description of its components and functionality: ### Description: 1. **Indicator Initialization**: - The indicator is named "Enhanced Moving Averages with Buy/Sell...
This oscillator is a tool meant to determine an up or down trend using a measure of volatility and what skews the market has. Calculation The first thing to do is normalize the price to have a 0 handle and be a decimal. The reason to do this is to get the 0 line for every asset. After the source value has been normalized calculate standard deviation and...
Thanks to the main inspiration behind this strategy and the hard work of: "Divergence for many indicators v4 by LonesomeTheBlue" The "All Divergence" strategy is a versatile approach for identifying and acting upon various divergences in the market. Divergences occur when price and an indicator move in opposite directions, often signaling potential reversals....
The Candle Body Support/Resistance indicator is a tool that provides Support/Resistance levels from high-volatility candles, a concept originally described by Steve Nison in "Beyond Candlesticks". Users can define the candle body percentage used to set the detected support/resistance levels. Occurrences of price testing the returned levels are highlighted...
Purpose and Usage The purpose of this strategy is to create a composite indicator that combines the signals from the MFI, Fisher Transform, and Bollinger Bands %b indicators. By normalizing and averaging these indicators, the script aims to provide a smoother and more comprehensive signal that can be used to make trading decisions. MFI (Money Flow Index):...
This is a trend-following approach that uses a modified version of Heiken Ashi candles with additional smoothing. Here are the key components and features: 1. Heiken Ashi Modification: The strategy starts by calculating Heiken Ashi candles, which are known for better trend visualization. However, it modifies the traditional Heiken Ashi by using Exponential Moving...
This strategy originally developed by Jatrader. Kudos to him for giving me chance to develop this indicator. This script should be use Light Crude Oil Futures 20 Range chart. (This strategy only proven for 20R range chart, Crude Oil.) How it works? If current 20R candle is closed green, the closing value must be higher than previous candle to take long...
The weekly opening range ( high to low ) is calculated from the open of the market on Sunday (1800 EST) till the opening of the Bond Market on Monday morning (0800 EST). This is the first and most crucial range for the trading week. As ICT has taught, price is moving through an algorithm and as such is fractal; because price is fractal, the opening range can...
Average True Range ( ATR ) is a technical analysis indicator that measures market volatility. It is a moving average of the true range over a period of time. Originally developed by a market technician J. Welles Wilder Jr. in the 1970s, ATR was utilized to measure the average volatility of an asset over a given time period. Wilder realized that measuring...
Shows you the opening price of a certain time of day. I will show as line starting from the time selected and ending a few bars into the future. Available times are the ones ICT said are relevant for framing a premium and discount using opening prices: 00:00, 8:30 and 13:30. To show all 3 you have to add the indicator 3 times. The script offers some customization...
The "Candlestick Pattern Condition Builder" is an indicator developed for traders who want to create and customize their own trading strategies based on candlestick patterns. It allows users to set specific conditions for entering and exiting trades, both long and short. By enabling traders to define up to five conditions based on various price points (Open, High,...
Candlestick analysis The Indicator "Bar Status" will display the current open candle state and the last three close candles state based on the logic below. Abbreviations. OC = Open Candle (if in no state listed below) FB = False Break BO = Break Out IN = Inside Bar FBR = False Break Reversal Logic: OC = This is the current open candle yet to close. Its status...
🔵 Introduction 🟣 Fair Value Gap (FVG) To spot a Fair Value Gap (FVG) on a chart, you need to perform a detailed candle-by-candle analysis. Here’s the process : Focus on Candles with Large Bodies : Identify a candle with a substantial body and examine it alongside the preceding candle. Check Surrounding Candles : The candles immediately before and...
█ Overview The Hourly Trading System (Zeiierman) is designed to enhance your trading by highlighting critical price levels and trends on an hourly basis. This indicator plots the open prices of hourly and 4-hour candles, visualizes retests, displays average price lines, and overlays higher timeframe candlesticks. It is particularly beneficial for intraday...
### Market Structure & Session Alerts Indicator #### Overview The "Market Structure & Session Alerts" indicator is a comprehensive tool designed to assist traders in identifying key market structure levels, detecting liquidity sweeps, and receiving alerts for specific trading sessions. This indicator is particularly useful for traders who want to keep an eye on...
► Overview: Manual Channel is a strategy that allows traders to manually insert channel lines and set the lines’ width. Trades are opened when the price hits one of the lines and bounces back, with the expectation that it will move towards the opposite line. This strategy offers flexibility in configuring channel lines and trading behavior. ► Description: The...
This Pine script indicator is designed to create a visual representation of the relative equal highs & lows formed and automatically removed mitigated ones. Unlike indicators designed to show exact equal high/lows this indicator allows a small, configurable degree of variance between price to identify areas where price stops. Relevance: Relative Equal highs...
Moving Average Cycles Indicator Description: The Moving Average Cycles indicator is a versatile tool designed to help traders identify and analyze bullish and bearish cycles based on price movements relative to a moving average. This indicator offers valuable insights into market trends and potential reversal points. Key Features: Customizable Moving...