ICT Weekly Profile Templates Dashboard by AlgoCadosThe ICT Weekly Profile Templates Dashboard is a tool meticulously crafted to integrate ICT Weekly Profiles and enrich your trading approach with profound insights. It provides a real-time analysis of market sessions, Daily Session Opens openings, and potential Points of Interest (POI) within the week, It outlines 12 profiles, serving as a roadmap with enhanced precision. By breaking down the trading week into specific profiles, it provides a clear framework to navigate market fluctuations.
# Key Features
Weekly Templates Dashboard : An advanced feature supported by an easy-to-understand table that lists all 12 profiles, simplifying the process of identifying current market scenarios and potential future movements.
Intraweek POI : Identifies key intraweek levels of interest (Daily Highs / Daily Lows) with configurable visual styles. Distinguish between buyside and sellside POIs with solid, dotted, or dashed lines in colors that stand out or blend in, according to your preference.
POI Raids Insights : Automatically updates the lines and label of a key level once it gets broken, highlighting the time when the high or low was taken out,.to provide a comprehensive overview of weekly market dynamics.
Customization at its Core : With inputs for line styles, colors, and even font specifications for text and labels, the dashboard is fully customizable to fit your charting needs. Whether you prefer solid lines for emphasis or dotted lines for a more subdued look, the choice is yours.
Utility and Style : The script doesn't just offer functional benefits; it also considers aesthetics. Choose from Monospace or Sans Serif fonts and adjust the size to ensure that your dashboard is not only informative but also visually pleasing.
# ICT Weekly Pattern
"xOTW" serves as placeholder for "LOTW" (Low of the Week) and "HOTW" (High of the Week). This visual shorthand allows traders to quickly interpret market conditions, with a combination of "xOTW" alongside directional arrows "↗" (Bullish) and "↘" (Bearish).
Bullish Patterns Analyzed
Mon LOTW: Monday Low Of The Week / Classic Buy Week;
Tue LOTW: Tuesday Low Of The Week / Classic Buy Week;
Wed LOTW: Wednesday Low of the Week;
MWK R: Consolidation Midweek Rally;
Thu LOTW: Thursday Low Of The Week / Consolidation Thursday Reversal (Bullish);
Fri S&D: Seek and Destroy Bullish Friday;
Bearish Patterns Analyzed
Mon HOTW: Monday High Of The Week / Classic Sell Week;
Tue HOTW: Tuesday High Of The Week / Classic Sell Week;
Wed HOTW: Wednesday High of the Week;
MWK D: Consolidation Midweek Decline;
Thu HOTW: Thursday High Of The Week / Consolidation Thursday Reversal (Bearish);
Fri S&D: Seek and Destroy Bearish Friday;
# Inputs
Offset: Adjusts the offset for the daily open marker, allowing users to shift the position of the session start visual cue on the chart.
Show Historic Data: Toggles the display of historical session data, enabling traders to either keep a continuous record of sessions throughout the chart or reset data at the start of each new week.
CME_MINI:ESH2024
Show Session Start: Activates vertical dividers at the start of each trading session, providing a clear demarcation of session boundaries.
Show Session Open: Displays the opening price for each session, offering immediate visual cues to the session's starting strength or weakness.
Extend Session Open: Extends the session's opening price line to the current bar, giving a persistent reference point throughout the trading session.
CME_MINI:ESH2024
Intraweek POI Styles and Colors
Start Line Style: Customizes the style of session start lines with options for solid, dotted, or dashed appearances.
Start Line Color: Chooses the color for session start lines, enhancing chart readability.
Daily Open Style and Color: Sets the style and color for the daily open lines, distinguishing them from other chart elements.
Buyside Line Style and Color: Adjusts the visualization of potential buyside areas of interest with customizable line styles and colors.
Sellside Line Style and Color: Configures the display for potential sellside points of interest, allowing for distinct visual differentiation.
Utils for Aesthetics and Clarity
Font Family and Size: Selects the font family and size for text elements within the indicator, ensuring clarity and consistency with your chart's aesthetic.
Text and Background Colors: Defines the color for text and background elements, facilitating a harmonious integration with the chart's overall color scheme.
CME_MINI:ESH2024
Embrace the essence of smarter trading where every insight is "Healthy For Your Trading."
Candlestick analysis
Day of the Week LabelOverview:
The "Day of the Week Label Indicator" is a simple yet powerful tool designed for traders and analysts who use TradingView for chart analysis. This indicator adds a clear visual cue to your charts by displaying the first letter of each day of the week directly above the corresponding candlestick. With this indicator, you can easily identify the day of the week at a glance without cluttering your chart.
Key Features:
Day Identification: Marks each candle with the first letter of the corresponding day of the week (e.g., "M" for Monday, "T" for Tuesday, and so on), providing immediate day recognition.
Color-Coded Labels: Each day is color-coded for better visibility and quick identification. Sundays and Saturdays are distinguished from the trading week, making it easier to spot the beginning and end of the trading week.
Overlay Design: As an overlay, this indicator seamlessly integrates with your existing chart setup, enhancing your analysis without interfering with other technical indicators or chart elements.
Benefits:
Enhanced Chart Analysis: Quickly discern patterns or trends that may be specific to certain days of the week, aiding in the refinement of trading strategies.
Time Management: Helps in planning trading activities or analysis by visually highlighting the days directly on the chart.
User-Friendly: Simple and non-intrusive, this indicator is designed to complement your chart without overwhelming it with information.
How to Use:
Simply add the "Day of the Week Label Indicator" to your chart, and the first letter of each day will automatically appear above the corresponding candlestick. No additional configuration is required, making it suitable for both novice and experienced traders.
Whether you're conducting a detailed market analysis, looking for day-specific patterns, or simply want a clearer visual representation of the time on your charts, this indicator is an essential addition to your TradingView toolkit.
18 Bar MM RangeFirst Indicator in a (hopefully) many indicators to help bring Al Brook's methodoligies to Pine Script.
This indicator plots the highest and lowest close from the first 18bars of the NY session and uses them to plot the 18bar MM. Most days, a BO of the 18bar range is met. This is help to keep track of that key price action on your chart.
It doesn't plot until bar 18 has closed.
Candle DecompositionThe Candle Decomposition indicator shows the last 2 candles in detail, with 2 levels of lower timeframes (LTF).
In this way, you can keep oversight of history, while zooming in on the last and previous candle.
This tool is meant to be used in realtime, preferentially for intraday usage.
🔶 USAGE
In this example, on the current timeframe of 15 minutes, you see the 2 latest candles, visualized through dotted lines/boxes.
The first LTF level is set at 5 minutes, the second level at 15 seconds:
(The 2 exclamation marks are just to emphasize this is the latest price which will be repainted)
The combination of 2 LTF's can be helpful in finding support/resistance levels.
These are taken in realtime, not in bar replay, so the outcome wasn't known in advance:
(blue lines were drawn manually)
After first testing resistance, the price went to the support area, bouncing back to an area of resistance and breaking it briefly.
Price turned back, and found support, after which resistance was tested once more:
Support was again tested, after which resistance was clearly broken:
A bit later (every time 1 candle further):
The following example shows 2 last candles with signs of indecision, but LTF candles show support and resistance areas:
🔶 IMPORTANT
PP = TradingView Premium / Professional Plan
BEP = TradingView Basic / Essential / Plus Plan
This publication uses second-based TF's, which is only available for PP users.
To ensure a smooth experience for BEP users, we have disabled the setting "Premium/Professional Plan" .
BEP users will get a warning when trying to use a second-based TF.
If possible, BEP users should use non-second-based TF's.
PP users have to enable the setting "Premium/Professional Plan" .
🔶 DETAILS
🔹 Timeframes
Most common timeframes can be used: 2W, W, 3D, 2D, D, 12h, 8h, 6h, 4h, 3h, 2h, 1h, 30min, 15min, 10min, 5min, 3min, 1min
When having the current chart timeframe at 1 of these TF's, you can set 1st and 2nd LTF. Choices are pré-set to ensure maximum usage of drawings:
In the image above you'll see there are gaps between candles.
The script ensures that when there are no trades, instead of attaching the next bar next to the previous, it leaves the gap visible (which is more realistic).
More in detail you can see the gaps are preserved:
(compared between white -current TF- candles, and LTF candles)
🔹 Limitations
When on a Weekly TF, and 2nd LTF is set at 4h, all drawings have enough space:
If we change the 2nd LTF to 2h, there isn't enough space for the second last candle, after which an orange coloured informational warning label will be shown:
When current chart TF is not 1 of the encoded TF's, a red warning text will be shown:
This script can be used using "Bar Replay", but very limited.
You can change the date ("Jump To..."), but "Play" is not advisable.
🔹 Code
This script uses string manipulation to convert inputs like "1 hour", "5 min", "5 sec" to usable timeframe strings like "60", "5" and "5S"
• str.contains(str , 'hour') ? str.tostring(str.tonumber(str.replace(str, ' hour', '')) * 60) : str
• str.replace(input.string( '5 sec', '' , options= ), " sec", "S")
• str.replace(str, " min", "")
Since string manipulation consumes resources, these are place in local blocks.
While inputs always will be extracted, whether it is put in an if-block or not, the string manipulation only will be executed when condition is fulfilled, in this case when we are at the right timeframe.
In following example you'll always see the '1 sec' input, on every TF, but the string manipulation will only happen when we are at a 1 minute TF:
str = ''
if timeframe.period == '1'
str := str.replace(input.string( '1 sec', '' , options= ), " sec", "S")
// output -> "5S" or "1S"
The "visible chart function" chart.right_visible_bar_time is used to reset everything when a new candle starts. This makes sure that when using "barstate.islastconfirmedhistory", the second last bar is used. Also all lines & boxes are automatically removed, starting with a fresh slate.
chT = timenow > chart.right_visible_bar_time
•••
if chT
if barstate.islastconfirmedhistory
f(4)
if barstate.islast
f(2)
If boxes/lines end up before the first bar, or after the last bar, this can be messy.
To protect ourselves against it 2 techniques are used:
math.max(0, x) is used to make sure lines & boxes don't end up before the first bar,
isOK = index < last_bar_index is used to be sure that the width of 1 candle (here index) is not wider than the total of all bars (which is the same as last_bar_index)
🔶 SETTINGS
3 columns:
Current TF: This columns shows you the chart TF where LTF settings are applicable.
1st LTF: set the timeframe of the first level LTF
2nd LTF: set the timeframe of the second level LTF
Colours can be set for 3 timeframes
+4-4 ChartThis overlay indicator provides a visual representation of momentum and price direction within each bar (or candlestick). It does this by comparing the current bar's open, high, low, and close to the previous bar's values, highlighting the following conditions:
Strong Up (Green): All four components (open, high, low, close) are higher than the previous bar.
Weak Up (Light Green): Three out of four components are higher than the previous bar.
Strong Down (Red): All four components are lower than the previous bar.
Weak Down (Light Red): Three out of four components are lower than the previous bar.
White: None of the strong or weak conditions are met, suggesting possible consolidation or indecision.
How to Use: The +4-4 Chart Indicator can be helpful in identifying potential trend continuation patterns, reversals, or periods of consolidation. Traders might use the predominance of green or red to gauge overall market sentiment. It is most useful to visualise long term daily, weekly, monthly market trends for SPY and QQQ etc.
Candle Length >= 70This script will highlight candles that have 70 or more points difference between open and close price. It ignores high and low prices.
% Change CandleThis script creates a trading indicator that shows how much the price of a financial instrument (like a stock or currency) changes within each trading period, represented by candles on a chart. Each candle shows the range of prices from the highest to the lowest within a specific time frame.
The indicator calculates the percentage difference between the highest and lowest prices for each candle. If the closing price of the candle is higher than the opening price, suggesting that the price has gone up during that period, the indicator will display this percentage increase as a green line. Conversely, if the closing price is lower than the opening price, indicating a price decrease, it will display the percentage decrease as a red line.
In simple terms, this indicator provides a visual way to see how much and in which direction the price is moving during each trading period, with green lines showing periods of price increase and red lines showing periods of price decrease.
[KG] FCPO Spread*** Released Version 79 ***
------ INTRODUCTION ------
Spread trading where a trader buys one futures contract and sells another contract simultaneously.
Spread trading is popular because it is less risky when compared to outright futures trading. And since it is less risky, spread trading tends to have lower margin requirements.
------ DESCRIPTION ------
This indicator, FCPO Spread, is calculating the spread value of 2 FUTURE CONTRACTS and construct new candles based on Open, Close, High and Low of 2 contracts.
Moving Average were drawn based on spread value.
There's Spread Information at BOTTOM right of the chart which contain the following info.
Spread Contract Timeframe
Future Contracts Symbols for Spread calculation
Close = Spread/Difference of the 2 contracts.
Long Risk = Differences of Current level to SUPPORT
Short Risk = Differences of Current level to RESISTANT
------ ICONS ------
🚀 triggered when Bullish MA lineup, i.e Fast MA is above Slow MA (Default MA period 5,9,13,20).
L ONG is TURTLE Buy signal when spread closes above Turtle Resistant.
💥triggers when Bearish MA lineup i.e Fast MA is below Slow MA (Default MA period 20,13,9,5)..
S HORT is TURTLE Sell signal when spread closes below Turtle Support
Note : Closing price varies depend on chooses timeframe
------ USAGE ------
LONG when L signal appear.
L signal will appear when the spread breaks and closing above Turtle Resistant .
Turtle Resistant is calculated based on previous N candles high where N value (Default 5) is configurable in the setting.
It is better to LONG during uptrend i.e Bullish MA Lineup (represented by 🚀 icon)
SHORT when S signal appear.
S signal will appear when the spread breaks and closing below Turtle Support .
Turtle Support is calculated based on previous N candles low where N value (Default 5) is configurable in the setting.
It is better to SHORT during downtrend i.e BEARISH MA Lineup (represented by 💥 icon)
Custom Swing Index [AstroHub]Custom Swing Index - Unleashing Precision in Trend Analysis
🌟 Overview:
The Custom Swing Index is a meticulously crafted tool that empowers traders with advanced insights into market dynamics, specifically focusing on identifying potential trend reversals. Developed by AstroHub, this indicator stands out for its unique combination of price-related calculations, ratios, and averages, providing a comprehensive and nuanced view of market sentiment.
📈 Key Components:
Price Calculation:
- Price Change: Captures the difference between the current and previous closing prices.
- High and Low Points: Analyzes the high and low points of each bar for crucial price movement data.
Ratios and Averages:
- Upper-Lower Shadow Ratio: Measures the relationship between the upper and lower shadows.
- Open-Close Ratio: Evaluates the ratio of opening to closing prices.
- Sum Price Changes: Sums up price changes over a specified period.
Differences and Shadows:
- Open-Close Difference: Considers the difference between opening and closing prices.
- Upper and Lower Shadow Ratios: Examines the proportions of upper and lower shadows.
Bar Size Metrics:
- Average Bar Size: Determines the average size of each bar.
- High-Low Difference: Measures the difference between the high and low points.
Swing Indicator Calculation:
- The Custom Swing Index is the result of combining these components, creating a dynamic metric that reflects potential trend reversals.
🚥 How to Use:
Understanding the Indicator:
- Bullish signals may be indicated when the swing index surpasses a defined threshold.
- Bearish signals may be indicated when the swing index falls below the negative threshold.
Visual Interpretation:
- Color-coded bars enhance visual interpretation, turning green for bullish conditions and red for bearish conditions.
Entry Points:
- Look for entry points where circle markings are present, indicating potential opportunities.
Alerts:
- Integrated alerts keep traders informed of significant swings, ensuring timely decision-making.
TradesAI - Elite (Premium)This is an all-inclusive, premium indicator that focuses mainly on price action analysis, a form of looking at raw price data and market structure to analyze and capture areas of interest where price could react.
This indicator is a perfect trading companion that saves you a lot of time in trading price action. Some of the popular methods that use price action analysis are "Smart Money Concepts (SMC)", "Inner Circle Trader (ICT)", and "Institutional Trading".
🔶 POWERFUL TOOLS
The indicator combines three main tools as a trading suite:
Trendlines
Market Structure Breakouts (MSB)
Order Blocks (OBs) and Reversal Order Blocks (ROBs)
These 3 main tools are interconnected together. Below we go over each, and then explain how and why they are brought in together. Please also note that the indicator's settings have tooltips next to most of them, with more detailed information.
🔶 TRENDLINES
This indicator automatically draws the most relevant Trendlines from pivot high/pivot low (based on the defined settings) as origins, while keeping track of candle closes across these Trendlines to adjust or invalidate accordingly.
The indicator will draw all possible Trendlines up to the maximum allowed by TradingView's PineScript. It uses a bullish pivot high candle to draw downtrends, and a bearish pivot low candle to draw uptrends. The algorithm will draw the most suitable active Trendlines from those origin points.
The indicator takes the origin point as the first point of the Trendline, then starts looking for the immediate next same-type candle (bullish to bullish or bearish to bearish), to draw the Trendline between the origin candle and this newer candle.
An uptrend is a ray connecting two bearish candles, as long as the second candle has a Low higher than the low of the origin (first) candle. A downtrend is a ray connecting two bullish candles, as long as the second candle has a high lower than the high of the origin (first) candle.
Upon drawing, the indicator then starts monitoring and adjusting this Trendline, by keeping the origin always the same but changing the second point. The goal is to keep reducing the slope of the Trendline till it is at 0 degrees (horizontal line). That then makes the Trendline "final". Note that you have the option to keep all Trendlines or just show the final, in the settings.
So, the algorithm has three states for the Trendlines:
Initial: not tested, meaning price hasn't yet broken through it and closed a candle beyond it, to cause a re-adjustment of this Trendline.
Broken: a candle hard closed (opened and closed) across it but still, the direction of the trend is maintained with a new Trendline from the same origin – could be replaced (or kept on the chart as a "backside", which is what we call a broken Trendline to be tested from the opposite side) with a new Trendline from the same origin, to the newest candle that caused the break to happen, as then it becomes the new second point of that Trendline.
Final: a candle hard closed (opened and closed) across it and can't draw a new Trendline from the same origin maintaining the direction of the trend (so an uptrend becomes a downtrend or a downtrend becomes an uptrend at this point, which is not allowed). This marks the end of the Trendline adjustment for that origin.
To summarize the Trendlines algorithm, imagine starting from a candle and drawing the Trendline, then keep re-adjusting it to make its slope less and less, till it becomes a horizontal line. That's the final state.
Here is a step-by-step scenario to demonstrate the algorithm:
Notice how first an Uptrend (green ray) is drawn between point A origin pivot (picked by our smart algorithm) and point B, both marked by green arrows:
Uptrend then turned into backside (where it flips from diagonal support to resistance where liquidity potentially resides):
Then a new uptrend is drawn from the same point A origin pivot to a new point B matching the filters in settings.
Finally, it turns also into a backside and is considered final because no more uptrends could be drawn from the same point A origin point.
Unlike traditional Trendline tools, this indicator takes into account numerous rules for each candlestick to determine valid support and resistance levels, which act as liquidity zones.
Unlike conventional Trendline tools, this indicator allows the user to define the pivot point left and right length to capture the proper ones as origins, then automatically recognizes and extends lines from them as liquidity zones where a reaction is expected. Moreover, the indicator monitors those Trendlines in real-time to switch them from buying to selling zones, and vice-versa, as the price structure changes.
Features
Log vs. Linear scale switch to show different Trendlines accordingly. When updating the Trendlines, or deciding whether Touches/Hard Closes are met, it makes a difference.
Ability to show all forms of Trendlines, final Trendlines or just backside Trendlines.
Why is it used?
For experienced traders, it offers the advantage of time efficiency, while new traders can bypass the steep learning curve of drawing Trendlines manually, which could practically be drawn between any two candlesticks on the chart (many variations).
🔶 MARKET STRUCTURE BREAKOUT (MSB)
The Market Structure Breakouts (MSB) tool is a trading tool that detects specific patterns on trading charts and provides ‘take profit’ regions based on the extended direction of the identified pattern. A breakout is a potential trading opportunity that presents itself when an asset's price moves away from a zone of accumulation (i.e. above a resistance level or below a support level) on increasing volume. The most famous form of market structure breakout is double/triple tops/bottoms, or what is referred to as W or M breakouts.
See this example below of how our MSB smart algorithm picked the local bottom of INDEX:BTCUSD
Here is a step-by-step scenario to demonstrate the algorithm:
First, the algorithm picks the pivot points according to our Machine Learning (ML) model, which uses Average True Range (ATR) and Moving Averages of various types to decide. It will then signal a Market Structure Breakout (MSB):
You may either short (sell) this MSB towards the targets (dotted green lines) and/or buy (long) at the targets (dotted green lines). Usually, these targets provide scalp moves, according to our model, but they may also act as strong reversal points on the chart.
Unlike standard indicators, the MSB tool identifies patterns that may not appear in every time frame due to specific conditions that need to be met, including Average True Range (ATR) and Moving Averages at the time of creation. Once these patterns are identified, the tool gives ‘take profit’ regions in the direction of the trading pattern and even allows for trading in the opposite direction (contrarian/counter-trend scalps) once those regions are reached. A confirmed breakout has the potential to drive the price to these specific targets, calculated based on our Machine Learning (ML) model. The Targets are the measured moves placed from the breakout point.
Features
Log vs. Linear scale switch to show different MSBs accordingly based on the ratios.
Detects trading patterns with specific conditions.
Ability to specify how sensitive the pivot points are for capturing market structure breakouts.
Provides take profit regions in the extended direction of the pattern.
Allows for versatile trading styles by permitting trades in the opposite direction (contrarian or counter-trend) once the take profit region is reached.
Highlights 2 levels of interest for potential trade initiation (or as targets of the MSB move).
🔶 ORDER BLOCK (OB) and REVERSAL ORDER BLOCK (ROB)
Before diving deeper into OBs and ROBs, you may consider the following chart for a general understanding of price ladders, and how they break. This is a bearish price ladder leaving Lower Lows and Lower Highs after an initial Low and High (L->H->LL->LH). Bullish ladders are the opposite (H->L->HH->HL).
In this bearish ladder case, notice the numbers representing the highs made (being lower). While this is a clean structure, markets don't always create such clean ladders, but you may switch to a higher timeframe to see it in a clearer form (usually, you will be able to spot it there).
In SMC or ICT concepts, the "Break Of Structure (BOS)" is pretty much creating a new lower low (LL) for the bearish ladder (and the creation of a higher high (HH) for the bullish ladder). By doing so, markets are grabbing liquidity below these levels and could either continue the ladder or stop/flip it. This gives you the context of how the ladder prints.
Price usually ends the ladder with a "Change of Character (CHoCH)", which represents a BOS (to grab liquidity) followed by an aggressive move in the opposite direction, which could lead the market to close the gaps and balance out. It is considered a good practice to then target liquidity in the opposite direction when a CHoCH happens, meaning for a bearish ladder you may target the pivots marked by 3, 2 and 1 at the top (start of the ladder).
Now we move to Order Blocks (OBs) and Reversal Order Blocks (ROBs). Think of them as sniper zones or micro ladders inside the bigger ladder/structure.
Order Blocks are usually used as zones of support and resistance on a trading chart where liquidity is present, or what some traders call "potential institutional interest zones". Order Blocks can be observed at the beginning of these strong moves of BOS or the CHoCH, leaving behind a zone (one or more candles) to be revisited later to balance the market. Therefore, these are interesting levels to place Limit/Market orders (sell the peaks or buy the valleys) instead of doing so at the swing highs or swing lows of the ladder (where BOS or CHoCH happened). The idea here is that the price could go deep into the ladder's step (peak or valley), and by doing so, it usually goes to these zones.
A bullish Order Block (Valley-OB) is the last bearish candle of a downtrend before a sequence of bullish candles (thus forming a "Valley"). A bearish Order Block (Peak-OB) is the last bullish candle of an uptrend before a sequence of bearish candles (thus forming a "Peak"). Our indicator captures the full range zones of the OB meaning not only the last candle but the sequence of same-type candles immediately next to it, which creates a zone, thus the name "OB/ROB Zone". Not only does the tool mark those levels on the chart, but it also has a smart tracking algorithm to remove the appropriate levels dynamically. It will monitor, candle by candle, what is happening to all the OBs/ROBs, and update them according to how they are being tested/visited (eg. weak testing being a touch, and strong testing being a touch of the same colour candle).
Bullish Valley-OB:
Bearish Peak-OB:
The indicator follows our concept of "Zone Activation" to determine whether to mark zones with dashed or solid lines.
If we take a bearish Peak-OB as an example, notice how it first gets drawn with a dashed red line (as the algorithm monitors how far the price moved away from the zone):
As price moves away (distance based on our Machin Learning (ML) model), it turns into solid lines:
Some people prefer to enter market orders or limit (pending) orders close to the zone, while others wait for it to hit. You may wait for these zones to turn into solid lines (meaning that the price made a decent move away from it before revisiting it). It depends on your trading strategy.
When Order Block (OB) zones break instead of holding the ladder, they turn into what we call Reversal Order Blocks (ROB); our algorithm of flipping these zones where price could react from the other side of the OB. Our algorithm monitor and highlight the most suitable ones to trade, based on +30 conditions and variables by our Machine Learning (ML) models. Examples of ROBs in the SMC or ICT trading community are a "Breaker Block", a "Mitigation Block" or a "Unicorn Setup". However, our algorithm filters the zones based on many factors such as ratios of price movement before, inside and after these zones, along with many other factors.
The algorithm monitors the ratios of how price moved into and away from the OB/ROB, as well as the type of move happening, to then filter the ones that are considered of high probability to break/not do a reaction.
A bullish Valley-OB (green) turns into a bearish Valley-ROB (neon red) where you may short (sell), while a bearish Peak-OB (red) turns into a bullish Peak-ROB (neon green) where you may long (buy).
Example of a bullish Valley-OB that turned into a bearish Valley-ROB:
Features
Log vs. Linear scale switch to show OBs/ROBs accordingly based on the ratios and the price action around these zones (before and after creation).
Uses our Machine Learning (ML) model to determine relevant Order Blocks (OBs) to show or hide based on price action.
Considers distribution and accumulation candles to find relevant Order Blocks.
Various types of triggers to mark those Order Blocks and their zones: breakout, close, hard close (open and close) or full close (low, high, open and close).
Monitors the 1:1 expansion of price from key areas of interest, which would change the importance of the zones through our concept of “Zone Activation”.
Allows for customization in the settings to display different types of Order Blocks (e.g., tested or untested).
Marking and invalidating levels based on many variables, including single or multiple candle zones, touching/closing beyond specific levels, weak/strong testing criteria, price tolerance % (near a level), and many more.
Provides color-coded visual representation for easier interpretation.
Why is it used?
Order Blocks (OB) and Reversal Order Blocks (ROB) represent the building blocks of price ladders, in conjunction with Swing Highs and Swing Lows. By identifying where liquidity is potentially present, they become common targets for big market players. Additionally, they provide clear invalidation points based on various types of candle closes, such as hard closes or simply a candle close.
One strategy that could be used is to open positions at these OB or ROB Levels as long as the chart maintains the trend (ladder), for a potentially higher win rate (or against it for a quick scalp). Be mindful of the breaking of a ladder or the building of a new one. A ladder breaks with a hard close (open and close) of a candle across the closest two levels; a ladder builds by not breaking back down across the levels it has tested. By definition, strong ladders will have a few untested levels and come back to wick them but still retain the structure of the laddering direction (trending with Lower Lows + Lower Highs or Higher Lows + Higher Highs).
🔶 COMBINING ALL TOOLS
In summary, Trendlines could be great tools to give you a general context of whether the price is laddering up or down. Once you spot the ladder, your goal is to either trade in its direction (not to go against the trend) or to counter-trend trade (contrarian). To do so, you could use the MSB tool to spot these BOS/CHoCH. And to give you more precise entries, you may rely on the OB/ROB zones which usually mesh over the ladder, to provide a sniper entry!
🔶 RISK DISCLAIMER
Trading is risky, and most day traders lose money. The risk of loss in trading can be substantial. Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Past performance does not guarantee future results. All content is to be considered hypothetical, selected after the fact, in order to demonstrate our product and should not be construed as financial advice. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition.
Kzx | RSI + Div + MACDComponents Description:
Relative Strength Index (RSI):
Purpose: Measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or other asset.
Implementation: The script allows users to set the length of the RSI calculation and defines overbought and oversold levels, which can be visually represented on the chart. Additional features include options to fill and/or color the background of the chart when overbought or oversold levels are reached.
Divergence (Div):
Purpose: Identifies instances where the price of an asset is moving in the opposite direction of a momentum indicator, such as the RSI in this script. Divergences can signal potential trend reversals.
Implementation: The script provides options for users to define the conditions under which divergences are identified, including the source of price tops/bottoms, detection limits, and the maximum lookback period for divergence analysis. It visually highlights these divergences on the chart.
Moving Average Convergence Divergence (MACD):
Purpose: Tracks the relationship between two moving averages of a security's price. The MACD is used to identify trend direction, momentum, and potential reversal points through crossovers.
Implementation: The script calculates the MACD line and its signal line. It plots buy or sell markers based on crossovers between these two lines, indicating potential entry or exit points.
Script Category:
Category: Technical Analysis / Indicators and Strategies
Subcategory: Oscillators (for RSI and MACD) and Trend Analysis (for Divergence)
Usage:
The script is designed for traders and analysts who rely on technical analysis to make informed decisions in the financial markets. By integrating RSI, divergence detection, and MACD analysis into a single script, users can gain a more nuanced understanding of market conditions, potentially improving their trading strategies.
Customization and Visualization:
Users can customize various parameters, including lengths for RSI and MACD, overbought/oversold levels, divergence detection criteria, and visual aspects like colors and marker sizes.
The script provides visual cues directly on the price chart, making it easy to spot potential buy/sell signals, overbought/oversold conditions, and divergences without the need to switch between different indicators.
Ninja Trend v2Ninja Trend V2 is best for swing, day trading and scalping using higher timeframe bias and executing in the lower timeframes. Uses MACD for the overall bias and paints a Heikin-Ashi chart.
Settings:
Firstly, go to chart settings, check (tick) the body, uncheck borders and wicks.
Secondly, go to the script settings and input the following;
Source close
Fast moving average 7
Slow moving average 13
Signal length 4
For day trading and scalping, change the script settings timeframe to 15 minutes and use a smaller chart timeframe (M5 or M1)
For swinging change the script settings timeframe to Daily and use H4 chart timeframe.
Behind the code:
When the higher timeframe MACD histogram crosses and closes above zero line, script goes to neutral and paints grey bars waiting for the signal line to cross and close above the zero line and then paints green bars and a buy signal is generated.
When the higher timeframe MACD histogram crosses and closes below zero line, script goes to neutral and paints grey bars waiting for the signal line to cross and close below the zero line and then paints red bars.
Advantage of this is to filter out the chart noise by painting Heikin Ashi charts.
Signals:
Grey means neutral. No entries should be made.
Red means sells only. And then hold until the trend changes to green or use your desired TP and SL.
Green means buys only. And then hold until the trend changes to red or use your desired TP and SL.
HTF CandlesHTF Candles Indicator (High Time Frame Candles for Low Time Frame Charts)
Overview:
This indicator plots High Time Frame (HTF) candle boxes on Lower Time Frame (LTF) charts. The purpose is to provide traders with a visual representation of (HTF) candlestick movements on a lower timeframe (LTF) within a specified interval.
Usage:
Traders can utilize this indicator to gain insights into HTF candle movements on LTF charts. It helps in identifying the range, direction, and bodies of candles from a higher timeframe perspective.
HTF Candle Box Formation:
The script identifies the start of a new interval on the HTF by monitoring changes in the specified timeframe (Interval).
For each new interval, it records key data points, including the open, high, low, and bar index.
The indicator then uses this information to draw a box on the LTF chart, encapsulating the HTF candle's high and low.
Candle Body Representation:
Users can choose to include the candle body in the box (BodyCandleBox).
If selected, the script draws an additional box representing the HTF candle body, from the open to the previous bar's close.
Color Customization:
Traders can customize box colors for long and short candles on the HTF.
Boxes can be transparent or filled with a specified color.
Multiple Timeframes:
The script supports multiple timeframes simultaneously, allowing traders to overlay HTF candle boxes from different intervals on the same chart.
Configurable options (Interval, Interval1, Interval2) provide flexibility in selecting additional timeframes.
Note:
Understanding the visual representation of HTF candles on LTF charts can aid traders in making more informed decisions, especially when considering the interplay between different timeframes.
Fetch EngulfingBuysThis script makes use of bullish engulfing candles, trend analysis, and time.
The trend is devided between an up- and downtrend. This is based on a simple cross over strategy, using the 9 and 50 moving averages.
The buys are calculated based on how many times a bullish engulfing candle was displayed on the chart during a downtrend. Bullish engulfing candles in an uptrend will never result in a buy signal.
The sells are simply based on time. This means that the script counts how many days you have been in a trade. The default is 100 candles. You can tweak this in the settings of the indicator.
Finally, this script does not provide you with any stop-losses. I am planning on releasing a v2 once I figured out what a good balance is. Also, you might notice that there are more buys than sells. This is because only the first trade in the series is tracked. V2 could improve on this flaw of the indicator.
Hope you enjoy this first iteration of the indicator.
Local Highs & Lows ATC-LHAL [ATC]What does this indicator do?
This indicator plots the highest and lowest historical price for each candle for a specified time interval, so you can see for each candle which price was the historical ("local") maximum or minimum in the defined time interval. It helps you not to lose sight of previous highs and lows, even when working with short time frames.
In the example chart you can see the highest price for each candle, that have occurred during a defined time interval (adjustable in the indicator settings), here as an example during 1 day.
So, for example, during trading in a 5m chart, you can always see the highest and lowest price, that occurred e.g. some time ago.
Where is the benefit?
For trading, it can be a strategic advantage to know the last decisive high or low in a defined period of time.
If the time frame is very short, e.g. 5m as in the example chart shown, then the overall overview is often missing: It is often of interest to know at what price the last high was within the last day, for example. This indicator can therefore be configured by specifying a time interval so that this local high is always displayed. In the example chart, this high is shown as a plotted green line.
The same is true with the historical low point in a defined interval: This is shown in red in the example chart. As an example, one day was specified for the lookback period for both the local high and the local low.
How is the data for each candle calculated?
The indicator's script plots the highest or lowest price for each candle that occurred in the specified time period. The loopback periods can be defined separately for the high price and low price.
How is the indicator configured?
Inside of the settings of the indicator you can set the High Lookback Interval and the Low Lookback Interval easily, for example 1 day, or 30 minutes, just as you like.
This interval will be the lookback period, and the highest or lowest price that occurred during this interval will be plotted.
Why is this script special?
Unlike most other scripts, the time interval can be specified in seconds, minutes, hours or days and not by a number of candles. It is therefore independent of the time interval. It is no longer necessary to adjust the number of candles accordingly, when you switch the time frame.
Have fun!
Candle Body Percentages TableThis script is designed as an analysis tool to visually represent the relative strength of bullish and bearish market sentiments over a specified number of candles. It calculates and displays the percentages of bullish and bearish "candle bodies" as part of the total price range observed in the chosen period.
Here's a breakdown of its functionalities:
User-Defined Period Analysis: Users can specify the number of candles they wish to analyze, allowing for flexible and dynamic examination of market trends over different time frames.
Bullish Body Percentage: The script calculates the combined length of all bullish candle bodies (where the closing price is higher than the opening price) within the selected range and expresses this total as a percentage of the combined price range of all candles analyzed.
Bearish Body Percentage: Similarly, it computes the aggregate length of all bearish candle bodies (where the closing price is lower than the opening price) and presents this sum as a percentage of the total price range.
Visual Representation: The results are displayed in a table format on the chart, providing an immediate visual summary of the prevailing market dynamics. The table shows the percentages of price movement dominated by bullish or bearish sentiment.
Market Sentiment Indicator: This tool can be particularly useful for traders and analysts looking to gauge market sentiment. High bullish body percentages might indicate strong buying pressure, while high bearish body percentages could suggest significant selling pressure.
Strategic Decision Making: By providing a clearer picture of market sentiment over a user-defined period, the script aids in making informed trading decisions, potentially enhancing trading strategies that are sensitive to trends and market momentum.
Wick Percentages TableThis script is designed to calculate and display the percentage representation of wick lengths in relation to the total candle range for the last 100 candles on a trading chart. Here's a breakdown of its functionality:
Indicator Initialization: It sets up an indicator named "Wick Percentages Table" (WPT) that overlays on the trading chart.
Variables Initialization: The script initializes variables to store the total lengths of top wicks, bottom wicks, and the total ranges for the last 100 candles.
Wick and Range Calculations: For the past 100 candles, it calculates:
The length of the top wick (the distance between the high and the higher of the open or close).
The length of the bottom wick (the distance between the low and the lower of the open or close).
The total range of each candle (the distance between the high and the low).
Percentage Calculations: It computes the top and bottom wick lengths as percentages of the total candle range across the last 100 candles.
Table Display: It creates or updates a table displayed on the top right of the chart showing these percentages. The table has two rows: one for the "Top Wick %" and another for the "Bottom Wick %", with the corresponding percentages calculated and displayed.
Visibility Maintenance: It plots a dummy variable to ensure the indicator's visibility on the chart.
The purpose of this script is to provide traders with a visual representation of the wick lengths as percentages, offering insights into market behavior and potential price movements based on recent candlestick patterns. It aids in assessing market volatility and trader sentiment through the analysis of wick lengths relative to the total candle sizes.
...
Any improvements to this code would be more then welcome.
I was getting an error in line 30, the only thing I could find was to comment it out.
Liquidity Grabs | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Liquidity Grabs indicator! This indicator can renders bubbles with different sizes at candles that have liquidity grabs, which happen when a liquidity areas (buyside / sellside liquidity) is swept. These candles often fill a lot of market orders that were sitting on the liquidity zone. You can check "How Does It Work" section for more information.
Features of the new Liquidity Grabs Indicator :
Renders Liquidity Grabs
Customizable Algorithm
Customizable Styles
Alerts
🚩UNIQUENESS
Liquidity grabs can be useful when determining candles that have executed a lot of market orders, and planning your trades accordingly. This indicator renders liquidity grabs in an unique bubble style, the size of the bubble is calculated by the size of the wick that caused the liquidity grab. The indicator also lets you customize the pivot length and the wick-body ratio for liquidity grabs.
📌 HOW DOES IT WORK ?
Liquidity grabs occur when one of the latest pivots has a false breakout. Then, if the wick to body ratio of the bar is higher than 0.5 (can be changed from the settings) a bubble is plotted. Using the wick length as a metric to measure liquidity is good because long wicks can translate to a large amount of buyers / sellers entering the market.
The bubble size is determined by the wick to body ratio of the candle.
⚙️SETTINGS
1. General Configuration
Pivot Length -> This setting determines the range of the pivots. This means a candle has to have the highest / lowest wick of the previous X bars and the next X bars to become a high / low pivot.
Wick-Body Ratio -> After a pivot has a false breakout, the wick-body ratio of the latest candle is tested. The resulting ratio must be higher than this setting for it to be considered as a liquidity grab.
Astro-CandlesThis script is just for fun.
It generates a Planet and a Zodiac Sign at the close of each candle.
The candle is "sliced" into 7 sections, one for each Planet and the close lands in one of those sections.
The candle is "sliced" into 12 sections, one for each Zodiac and the open lands in one of those sections.
You could use it to generate a quick "answer" to a question.
You could use to contemplate your day if you use the daily candle.
You could even try to use it to trade and make some money, somehow.
Every combination should be possible, Moon in Aries, Mars in Capricorn, whatever.
Since it's based on candle structure, it might yield some interesting information.
Or not!
Enjoy!
It's All MidsIt's All Mids extends mid-lines of a candle forward until the price revisits (covers) the midpoint. A higher timeframe can be used for the mid candles than the chart (but not the reverse). There is no data to support this is a meaningful concept.
While this script is intended to be functional, correct and useful it is important that you understand that not only is this the first script I've written but also that "I am an idiot."(tm) Using a stranger's indicator is questionable, but using a self-proclaimed idiot's indicator to trade real money is unquestionably stupid. Don't be like me. Be smart. You are responsible for what you do with this script. The source is unlocked, so feel free to copy and modify it.
Terms:
- A "mid" is the (high+low)/2 price of a previous candle that has not been auctioned since the candle close. All candles will initially have a mid unless they close on exactly their midpoint.
- A "covered" mid is a mid for which the midpoint has been auctioned since the candle closed. There is an option to display a number of these so that when a mid is hit the line doesn't just disappear from the chart and you forget what you were doing.
- A "low priority" mid is the mid of a candle which was auctioned in the previous candle(s) (chart's timeframe, not the mid's timeframe)-- chopchopchop. I have no data to show that this matters, or really, that anything matters at all.
My use: I chart a 60m mid on ES on a 5 or 15 minute chart. I am lying. I use it for something else but if I tell you that then I give away my incredible alpha that has made me so rich I can spend my time crying in corner about all the money I've lost.
CBO (Candle Bias Oscillator)The Candle Bias Oscillator (CBO) with volume and ATR scaling is a unique technical analysis tool designed to capture market sentiment through the analysis of candlestick patterns, volume momentum, and market volatility. This indicator is built on the foundation of assessing the bias within a candlestick's body and wicks, adjusted for market volatility using the Average True Range (ATR), and further refined by comparing the Rate of Change (ROC) in volume and the adjusted bias. The culmination of these calculations results in the CBO, a smoothed oscillator that highlights potential market turning points through divergence analysis.
Key Features:
Bias Calculations: Utilizes the relationship between the candle's body and wicks to determine the market's immediate bias, offering a nuanced view beyond simple price action. Have you ever wanted to quantify exactly how bullish or bearish a particular candle or candlestick pattern is? Whether it's dojis, hammers, engulfing, gravestones, evening morning star, three soldiers etc. you don't have to memorize 50 candlestick patterns anymore.
Volatility Adjustment: Employs the ATR to adjust the bias calculation, ensuring the oscillator remains relevant across varying market conditions by accounting for volatility.
Momentum and Divergence: Measures the momentum in volume and bias through ROC calculations, identifying divergence that may signal reversals or significant price movements.
Signal Line: A smoothed version of the CBO, derived from its own values, serving as a benchmark for identifying potential crossovers and divergences.
Utility and Application:
The CBO with Divergence Scaling is developed for traders who seek a deeper understanding of market dynamics beyond price movements alone. It is particularly useful for identifying potential reversals or continuation patterns early, by highlighting divergence between market sentiment (as expressed through candlestick bias) and actual volume movements. In this way, it aligns us retail traders with institutional traders and smart money. This indicator is versatile and can be applied across various time frames and market instruments, offering value to both short-term traders and long-term investors.
How to Use:
Trend Identification: The direction and value of the CBO provide insights into the prevailing market trend. A positive oscillator value may indicate bullish sentiment, while a negative value suggests bearish sentiment.
Signal Line Crossovers: Crossovers between the CBO and its signal line can be used as potential buy or sell signals. A crossover above the signal line might indicate a buying opportunity, whereas a crossover below could suggest a selling point.
Divergence: Discrepancies between the CBO and price action (especially when confirmed by volume ROC) can highlight potential reversals.
Customization and Parameters: This script allows users to adjust several parameters, including oscillator periods, signal line periods, ATR periods, and ROC periods for divergence, to best fit their trading strategy and the characteristics of the market they are analyzing.
Conclusion:
The Custom Bias Oscillator with Divergence Scaling is a comprehensive tool designed to offer traders a multi-faceted view of market conditions, combining elements of price action, volatility, and momentum. By integrating these aspects into a single indicator, it aims to provide a more rounded and actionable insight into market trends and potential turning points.
To comply with best practices and ensure clarity regarding the informational nature of the Custom Bias Oscillator (CBO) tool, it's crucial to include a disclaimer about the non-advisory nature of the script. Here's a suitable disclaimer that you can add to the end of your script description or publication:
Disclaimer:
The Custom Bias Oscillator (CBO) with Divergence Scaling and its accompanying analysis are provided as tools for educational and informational purposes only and should not be construed as financial advice. The creator of this indicator does not guarantee any specific outcomes or profit, and all users should be aware of the risks involved in trading and investing. Users should conduct their own research and consult with a professional financial advisor before making any investment decisions. The use of this indicator is at the user's own risk, and the creator bears no responsibility for any direct or consequential loss arising from any use of this tool or the information provided herein.
Sakata New PriceThis is an indicator for counting Sakata new price.
Bullish Candle
Count the first bullish candle from the starting point of the uptrend.
Count a bullish candle that updates the previous high on a closing basis as a new high.
Bearish Candle New Low
Count the first bearish candle from the starting point of the downtrend.
Count a bearish candle that updates the previous low on a closing basis as a new low.
Operating Instructions:
When you add the indicator to the chart, a message will appear.
Click with the mouse to specify the starting point for counting, and the starting point of the counter on the chart will be set. Bullish candle new highs will be displayed with red labels, and bearish candle new lows will be displayed with blue labels.
酒田新値を数えるインジケーターです。
陽線新値
上昇の起点から最初の陽線を1本目と数える。
終値ベースでそれまでの高値を更新している陽線を新値として数える。
陰線新値
下降の起点から最初の陰線を1本目と数える。
終値ベースでそれまでの安値を更新している陰線を新値として数える。
操作方法
インジケーターをチャートに追加すると、「Sakata New Priceのstarting pointに日時を設定」とメッセージが表示されます。カウントの起点をマウスでクリックして指定すると、チャート上のカウンタの起点がセットされます。陽線新値は赤色のラベル、陰線新値は青色のラベルで表示されます。
Fibonacci Inversion Fair Value Gaps | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Fibonacci Inversion Fair Value Gaps (IFVG) indicator! Inverse Fair Value Gaps occur when a Fair Value Gap becomes invalidated. They reverse the role of the original Fair Value Gap, making a bullish zone bearish and vice versa. This indicator plots the Fibonacci retracement levels of the IFVG, which often act like support & resistance levels.
Features of the new Fibonacci IFVGs Indicator :
Renders Bullish / Bearish IFVG Zones
Renders Fibonacci Retracement Levels Of IFVGs
Combination Of Overlapping FVG Zones
Variety Of Zone Detection / Sensitivity / Filtering / Invalidation Settings
High Customizability
🚩UNIQUENESS
This indicator stands out with its ability to render up to 3 Fibonacci retracement levels of IFVGs. Fibonacci retracement levels are widely used within trading, and we wanted to implement them for IFVG zones. You can also customize the FVG Filtering method, FVG & IFVG Zone Invalidation, Detection Sensitivity etc. according to your needs to get the best performance from the indicator.
📌 HOW DOES IT WORK ?
A Fair Value Gap generally occur when there is an imbalance in the market. They can be detected by specific formations within the chart. An Inverse Fair Value Gap is when a FVG becomes invalidated, thus reversing the direction of the FVG.
This indicator renders 0.618, 0.5 and 0.382 (can be changed from the settings) Fibonacci retracement levels of the IFVGs, which often act as support and resistances. Check this example :
⚙️SETTINGS
1. General Configuration
FVG Zone Invalidation -> Select between Wick & Close price for FVG Zone Invalidation.
IFVG Zone Invalidation -> Select between Wick & Close price for IFVG Zone Invalidation. This setting also switches the type for IFVG consumption.
Zone Filtering -> With "Average Range" selected, algorithm will find FVG zones in comparison with average range of last bars in the chart. With the "Volume Threshold" option, you may select a Volume Threshold % to spot FVGs with a larger total volume than average.
FVG Detection -> With the "Same Type" option, all 3 bars that formed the FVG should be the same type. (Bullish / Bearish). If the "All" option is selected, bar types may vary between Bullish / Bearish.
Detection Sensitivity -> You may select between Low, Normal or High FVG detection sensitivity. This will essentially determine the size of the spotted FVGs, with lower sensitivies resulting in spotting bigger FVGs, and higher sensitivies resulting in spotting all sizes of FVGs.
Show Historic Zones -> If this option is on, the indicator will render invalidated IFVG zones as well as current IFVG zones. For a cleaner look at current IFVG zones which are not invalidated yet, you can turn this option off.
2. Fibonacci Retracement Levels
You can enable / disable up to 3 different Fibonnaci Retracement levels at this group of settings. You can also switch their line styles between solid, dashed and dotted as well as changing their colors.
