IMGBasic - HTF Structure / Order Blocks / Breakers - V1.0IMG Indicators Overview
The IMG Indicators are crafted as comprehensive educational tools for price action traders. They incorporate a variety of concepts including:
1. Multiple Timeframe Analysis
2. Order Blocks (OB)
3. Breakers (BRKR)
4. Fair Value Gaps (FVGs)
5. Overlaps of OB and FVG
6. Overlaps of BRKR and FVG
7. Analysis of Internal and External Liquidity
8. Strategies for Identifying Potential Entries, Stop-loss, and Target Levels
9. Risk Management and Position Sizing
These Price Action concepts can be applied to any market (Stocks / Options / Forex / Futures / Crypto ) and any timeframe.
Introduction to the IMG Basic Indicator
The IMG Basic Indicator serves as the foundational level within the IMG suite of indicators. Its core function is to acquaint traders with elementary price action concepts such as:
1. Higher Timeframe Market Structures through Multiple Timeframe Analysis
2. Higher Timeframe Order Blocks
3. Higher Timeframe Breakers
4. Breaks in Higher Timeframe Market Structure
Higher Timeframe Market Structure:
Market Structure can be defined using several techniques. The IMG indicators employ the Close through High/Low technique, which necessitates a candle close through a structural level to validate a structural break and designate a new range.
Example: H12 Market Structure visualisation on a H12 Chart with annotations:
By selecting a particular Market Structure timeframe in the settings, the indicator immediately illustrates both current and historical market structures for the chosen timeframe across all subordinate timeframes, subject to the limitations of your Tradingview subscription.
Example: H12 Market Structure visualisation on a H1 Chart with annotations:
Higher Timeframe Order Blocks (OB)
An Order Block represents the last candle of the opposite direction preceding a Market Structure Break. For instance, a bullish Order Block is identified as the final bearish candle leading to a bullish market structure break, and vice versa for bearish Order Blocks.
Example: H12 OB visualisation on a H12 Chart with annotations:
When activated, the indicator will highlight the Higher Timeframe Order Blocks responsible for a Market Structure Break on all subordinate timeframes relative to the chosen Market Structure Timeframe.
Note: if multiple OBs exist, the indicator will display the OB closest to the new range extreme
Example: H12 OB visualisation on a H1 Chart with annotations:
Higher Timeframe Breaker Blocks (BRKR)
A Breaker Block is identified as the most recent Order Block that has been breached by price, followed by an opposite Market Structure Break. For example, a bullish Breaker Block is the last bearish Order Block that price has passed through, followed by a bullish structural break, and the inverse is true for bearish Breakers.
Example: H12 Breaker visualisation on a H12 Chart with annotations:
Once enabled, the system will display Higher Timeframe Breaker Blocks after an opposite Market Structure Break is confirmed on all subordinate timeframes.
Example: H12 Breaker visualisation on a H1 Chart with annotations:
ALERTS: Higher Timeframe Market Structure Breaks (HTF MSBs)
The system provides notifications of confirmed Market Structure Breaks based on the selected Higher Timeframe Market Structure Timeframe. For instance, selecting a weekly structure will trigger an alert when price closes through a weekly structural level, and the same logic applies to other timeframes like D, H12, H4, H1 etc.
To enable alerts, right-click on the indicator and select “Add Alert on IMG ...”. You may customise the alert name as desired and then click 'Create' to finalise the alert setup.
General Note:
There is no system, indicator, algorithm, or strategy that can provide absolute certainty in predicting market movements. Use trading indicators as a tool to assist with trading decisions and manage your risk wisely.
For a complete user manual / knowledge base on the IMG Indicators, click on the User Manual link in the signature below
Stay safe and Happy Trading!
Multitimeframe
MTF ChartingKey Features
Visual Settings: The script allows customization of the visual aspects of the candlesticks. Traders can select colors for the bodies, borders, and wicks of bullish (rising) and bearish (falling) candles. This customization enhances readability and personal preference alignment.
Timeframe Settings: Traders can choose up to five different timeframes (labeled as HTF 1 to HTF 5) to display on the main chart. For each selected timeframe, traders can specify the number of candlesticks (bars) to display.
Candlestick Representation: The script redraws the candlesticks from the selected timeframes onto the main chart. This redrawing includes the high, low, opening, and closing prices of the candlesticks for each timeframe, providing a multi-dimensional view of market trends.
Labeling: The script includes an option to label each set of candlesticks with their respective timeframe for easy identification.
Practical Usage for Traders
Market Analysis: By displaying candlesticks from different timeframes, traders can analyze the market more comprehensively. For instance, while the main chart might show a short-term trend, the MTF charting can reveal a different longer-term trend, aiding in more informed decision-making.
Trend Confirmation: Viewing multiple timeframes simultaneously helps in confirming trends. If multiple timeframes show a similar trend, it might indicate a stronger, more reliable trend.
Identifying Reversals: The script can be useful in spotting potential trend reversals. For example, if the lower timeframe shows a bearish trend while the higher timeframe remains bullish, it might signal a potential reversal.
Customization for Strategy Alignment: Traders can customize the timeframes and the number of bars to align with their specific trading strategies, whether they are short-term day traders or long-term position traders.
Technical Aspects
The script uses arrays to store and manipulate candlestick data for each timeframe. This approach ensures efficient handling of data and updates.
Examples
- Display up to 5 timeframes on your main price chart. You are able to get a zoomed out view of the market without taking up too much screen real estate.
- Show a lower timeframe on your primary chart. In this instance maybe you primarily look at the 5 minute chart, but like to refine your entries on the 1 minute. Here you can do it with one chart.
- Look at how the daily candle is forming relative to the timeframe that you are currently on. You can more easily spot where price closed and opened on certain days.
PivottrendHi all!
This script is based on the concept of "higher highs and higher lows" and "lower highs and lower lows". Bullish/bearish trend changes when a previous pivot (low in bullish trend and high in bearish trend) is broken (or has equal value). Some settings are customizable by the user:
Timeframe
- You can choose what timeframe the pivots are found on
Left length
- The left length used for the pivots found
Right length
- The right length used for the pivots found
Show labels
- Choose if you want to display buy and sell labels
Show pivots
- Choose if you want to display the pivots found
Show MSS
- Choose if you want to display a line when price breaks a previous pivot
The "look and feel" is inspired by the script "SuperTrend" by KivancOzbilgic ().
Best of trading luck!
Rainbow Fibonacci Momentum - SuperTrend🌈 "Rainbow Fibonacci Momentum - SuperTrend" Indicator 🌈
IMPORTANT: as this is a complex and elaborate TREND ANALYSIS on the graph, ALL INDICATORS REPAINT.
Experience the brilliance of "Rainbow Fibonacci Momentum - SuperTrend" for your technical analysis on TradingView! This versatile indicator allows you to visualize various types of Moving Averages, including Simple Moving Averages (SMA), Exponential Moving Averages (EMA), Weighted Moving Averages (WMA), Hull Moving Averages (HMA), and Volume Weighted Moving Averages (VWMA).
Each MA displayed in a unique color to create a stunning rainbow effect. This makes it easier for you to identify trends and potential trading opportunities.
Key Features:
📊 Multiple Moving Average Types - Choose from a range of moving average types to suit your analysis.
🎨 Stunning Color Gradient - Each moving average type is displayed in a unique color, creating a beautiful rainbow effect.
📉 Overlay Compatible - Use it as an overlay on your price chart for clear trend insights.
With the "Rainbow Fibonacci Momentum - SuperTrend" indicator, you'll add a burst of color to your trading routine and gain a deeper understanding of market trends.
HOW IT WORKS
MA Lines:
MA - 5: purple lines
MA - 8: blue lines
MA - 13: green lines
MA - 21: yellow lines
MA - 34: orange lines
MA - 55: red line
Header Color Indicators:
Purple: MA-5 is in uptrend on the chart
Blue: MA-5 and MA-8 are in the uptrend on the chart
Green: MA-5, MA-8 and MA-13 are in the uptrend on the chart
Yellow: MA-5, MA-8, MA-13 and MA-21 are in the uptrend on the chart
Orange: MA-5, MA-8, MA-13, MA-21 and MA-34 are in the uptrend on the chart
Red: MA-5, MA-8, MA-13, MA-21, MA-34 and MA-55 are in the uptrend on the chart
Red + White Arrow: All MAs are correctly aligned in the uptrend on the chart
Footer Color Indicators:
Purple: MA-5 is in downtrend on the chart
Blue: MA-5 and MA-8 are in the downtrend on the chart
Green: MA-5, MA-8 and MA-13 are in the downtrend on the chart
Yellow: MA-5, MA-8, MA-13 and MA-21 are in the downtrend on the chart
Orange: MA-5, MA-8, MA-13, MA-21 and MA-34 are in the downtrend on the chart
Red: MA-5, MA-8, MA-13, MA-21, MA-34 and MA-55 are in the downtrend on the chart
Red + White Arrow: All MAs are correctly aligned in the downtrend on the chart
Background Colors:
Light Red: All MAs are on the rise!
Red: All MAs are align correctly on the rise!
Light Green: All MAs are in freefall!
Green: All MAs are align correctly in freefall!
Tiny Arrows Indicators/Alerts:
Down Arrow: All MAs are in freefall!
Up Arrow: All MAs are on the rise!
Big Arrows Indicators/Alerts:
Down Arrow: All MAs are align correctly in freefall!
Up Arrow: All MAs are align correctly on the rise!
Alert on Candle CloseAlert on Candle Close is a simple indicator allowing you to set alerts when a candlestick closes.
Instructions for use
From the chart window, click on "Indicators" and search for "Alert on Candle Close".
Click on "Alert on Candle Close" to add the indicator to your chart. Click on the star icon to add it to your favourites to easily access later.
Set your chart timeframe to the timeframe you wish to alert on. For example, to create an alert when a 4h candlestick closes, set your chart to the "4h" timeframe.
Hover over the "Alert on Candle Close" indicator which has been added to your chart and click the ellipsis "..." icon, then click "Add alert on Alert on Candle Close" or use the keyboard shortcut "Alt+A" from the chart.
In the alert pop-up window, make sure "Condition" is set to "Alert on Candle Close" and "Trigger" is set to "Once Per Bar".
Optionally, you can set a custom expiry for the alert, give the alert a name and customise the alert message. You can configure notification settings from the "Notifications" tab.
Click "Create" and your alert is set up!
Each alert is tied to the timeframe and chart it was created on, so you can change the timeframe or asset and create more alerts by repeating the above process.
Note : this indicator is only designed to work with time-based chart types, such as Bars, Candles or Heikin Ashi. It will not work for non-time charts such as Renko.
FAQs
Why do my alerts sometimes not fire as soon as the candle closes?
This is a limitation with Pine Script's execution model. Indicators are calculated whenever a price or volume change occurs i.e. when a new trade happens. For illiquid or slow moving markets, there may be some time between when a candle closes and the next trade, leading to a delay in the alert triggering. The alert will trigger on the next tick of data on the chart.
Why can't I create more alerts?
TradingView has a limit on the number of active technical alerts you can have based on your membership tier. To configure more alerts, consider upgrading your TradingView plan to a higher tier. See a comparison of TradingView plans at www.tradingview.com
My alert only fired once, how can I get it to keep working?
When configuring the alert in the alert pop-up window, make sure you set "Trigger" to "Once Per Bar" and "Expiration" to "Open-ended alert".
Immediate rebalanceGuided by the new ICT tutoring, I create this versatile Immediate Rebalance indicator
This indicator shows a different way on how to view the "Spikes or Shadows", based on the direction of the price this indicator divides the "Spike or Shadows" into levels 0.5 - 0.75 - 0.25 Fibonacci, giving the possibility to view the levels both in normal or in pre-Macro times
The user has the possibility to:
- Choose to have Spike levels shown in MultiTimeframe
- Choose to show Sike levels only Bullish or only Bearish
- Choose to show Sike levels only in pre-Macro/Macro times
- Choose to view the maximum amount of levels with Max Show
The indicator must be used as ICT shows in its concepts, the indicator takes into consideration the last 2 candles already closed so on the candle that is forming it is possible to expect reactions on the levels it marks, below is an example of how to use it in MultiTimeframe
Below I show an example on how to set the indicator to see Immediate Rebalance in Macro times
Below is an example of when not to take the indicator into consideration
FIBO ZONESThe "Fibonacci ZONES" indicator combines Fibonacci ratio-derived zones(channels), together with a Fibonacci pattern of the Previous period high/low.
Auto Fibonacci tools are powerful ways designed to simplify your technical analysis by automatically drawing Fibonacci retracement and extension levels on your chart. This indicator is built to enhance your trading experience with clearer market moves and informative insights.
You can easily spot your waves and patterns when the percentages are moving with you.
Key Features:
Automated Fibonacci Levels: Plots Fibonacci retracement and extension levels based on recent price movements.
Multi-Timeframe Support: This indicator is your versatile companion, offering multi-timeframe functionality. You can seamlessly track Fibonacci levels across different resolutions, providing a comprehensive view of the market.
Two Types of Fibs: Retracement and Timeframe extension Fibonacci levels. Use retracements to identify potential reversal points and extensions to anticipate price targets, giving you a well-rounded perspective on market movements.
Benefits:
Save Time: No more manual Fibonacci drawing; It does this for you in real-time.
Enhanced Analysis: Gain a deeper understanding of potential support, resistance, and price targets.
User-Friendly: Suitable for traders of all levels, this indicator simplifies complex technical analysis.
Breakouts from a Fibonacci Channel are also indicated by labels, indicating a potential reversal.
Each range extremity/area can also be used as support/resistance.
Predictive Indicator Matrix v4 (public)Predictive Indicator Matrix for TradingView
The "Predictive Indicator Matrix" is an advanced analytical tool for TradingView, designed to work across multiple timeframes from 1D to 5m. It employs a complex algorithm combining various technical indicators such as the Ichimoku Cloud, ADX, five EMAs, slow and fast versions of MACD, Stochastic Oscillator, and RSI. This combination is meticulously curated to provide a multifaceted view of the market.
The uniqueness of this script lies in its trigonometric and mathematical logic. It utilizes trigonometric functions, like the arctangent and cosine functions, to calculate the 'bias' and 'score' of market trends, presented in decimal percentages (%). These calculations are pivotal in understanding market dynamics and potential directional changes. The 'bias' is calculated using the cosine of the arctangent of the ratio between current and previous scores, adjusted for market shift. This innovative approach provides a nuanced understanding of market momentum and trend strength.
Furthermore, the script dynamically generates prediction lines based on these calculations. These lines represent potential future market paths, plotted using the current market data and the calculated levels from the matrix. This feature visually represents the script's analysis, offering users an intuitive and actionable insight into potential market movements.
The integration of these indicators, along with the trigonometric calculations, makes the script not only unique but also a powerful tool for traders. It encapsulates various market aspects in one matrix, offering a comprehensive analysis that goes beyond traditional indicator-based strategies.
Additional Features:
The line updates on the first bar close when you load it onto the chart, providing immediate insights into the market.
It also updates on the most recent close of the Update Interval that you choose in the settings. The default setting is on the 1-hour timeframe (1H).
You can now use REPLAY MODE!
Data Options:
Timeframes : Show the timeframe row being analyzed;
Score : Each timeframes' overall score average in %;
Bias : Bias % of each timeframe;
Time : The time that each prediction level is based on/expected;
Pip Change : Based on the bias and volatility, expected pip change;
Levels : The expected level based on the aggregate analysis;
Min/Max Level : The minimum and maximum level based on the analysis;
Potential Stop Loss : Based on the current price, where you should set your SL if you were to go long or short;
Prediction : The prediction line that we calculate.
Show 1 Line? : Only have the most recent line on your chart.
Note 1: This tool is intended for market analysis and should not be construed as investment advice.
Breakout Detector (Previous MTF High Low Levels) [LuxAlgo]The Breakout Detector (Previous MTF High Low Levels) indicator highlights breakouts of previous high/low levels from a higher timeframe.
The indicator is able to: display take-profit/stop-loss levels based on a user selected Win/Loss ratio, detect false breakouts, and display a dashboard with various useful statistics.
Do note that previous high/low levels are subject to backpainting, that is they are drawn retrospectively in their corresponding location. Other elements in the script are not subject to backpainting.
🔶 USAGE
Breakouts occur when the price closes above a previous Higher Timeframe (HTF) High or below a previous HTF Low.
On the advent of a breakout, the closing price acts as an entry level at which a Take Profit (TP) and Stop Loss (SL) are placed. When a TP or SL level is reached, the SL/TP box border is highlighted.
When there is a breakout in the opposite direction of an active breakout, previous breakout levels stop being updated. Not reaching an SL/TP level will result in a partial loss/win,
which will result in the box being highlighted with a dotted border (default). This can also be set as a dashed or solid border.
Detection of False Breakouts (default on) can be helpful to avoid false positives, these can also be indicative of potential trend reversals.
This indicator contains visualization when a new HTF interval begins (thick vertical grey line) and a dashboard for reviewing the breakout results (both defaults enabled; and can be disabled).
As seen in the example above, the active, open breakout is colored green/red.
You can enable the setting ' Cancel TP/SL at the end of HTF ', which will stop updating previous TP/SL levels on the occurrence of a new HTF interval.
🔶 DETAILS
🔹 Principles
Every time a new timeframe period starts, the previous high and low are detected of the higher timeframe. On that bar only there won't be a breakout detection.
A breakout is confirmed when the close price breaks the previous HTF high/low
A breakout in the same direction as the active breakout is ignored.
A breakout in the opposite direction stops previous breakout levels from being updated.
Take Profit/Stop Loss, partially or not, will be highlighted in an easily interpretable manner.
🔹 Set Higher Timeframe
There are 2 options for choosing a higher timeframe:
• Choose a specific higher timeframe (in this example, Weekly higher TF on a 4h chart)
• Choose a multiple of the current timeframe (in this example, 75 minutes TF on a 15 min chart - 15 x 5)
Do mind, that when using this option, non-standard TFs can give less desired timeframe changes.
🔹 Setting Win/Loss Levels
The Stop Loss (SL) / Take Profit (TP) setting has 2 options:
W%:L% : A fixed percentage is chosen, for TP and SL.
W:L : In this case L (Loss-part) is set through Loss Settings , W (Win-part) is calculated by multiplying L , for example W : L = 2 : 1, W will be twice as large as the L .
🔹 Loss Settings
The last drawing at the right is still active (colored green/red)
The Loss part can be:
A multiple of the Average True Range (ATR) of the last 200 bars.
A multiple of the Range Cumulative Mean (RCM).
The Latest Swing (with Length setting)
Range Cumulative Mean is the sum of the Candle Range (high - low) divided by its bar index.
🔹 False Breakouts
A False Breakout is confirmed when the price of the bar immediately after the breakout bar returns above/below the breakout level.
🔹 Dashboard
🔶 ALERTS
This publication provides several alerts
Bullish/Bearish Breakout: A new Breakout.
Bullish/Bearish False Breakout: False Breakout detected, 1 bar after the Breakout.
Bullish/Bearish TP: When the TP/profit level has been reached.
Bullish/Bearish Fail: When the SL/stop-loss level has been reached.
Note that when a new Breakout causes the previous Breakout to stop being updated, only an alert is provided of the new Breakout.
🔶 SETTINGS
🔹 Set Higher Timeframe
Option : HTF/Mult
HTF : When HTF is chosen as Option , set the Higher Timeframe (higher than current TF)
Mult : When Mult is chosen as Option , set the multiple of current TF (for example 3, curr. TF 15min -> 45min)
🔹 Set Win/Loss Level
SL/TP : W:L or W%:L%: Set the Win/Loss Ratio (Take Profit/Stop Loss)
• W : L : Set the Ratio of Win (TP) against Loss (SL) . The L level is set at Loss Settings
• W% : L% : Set a fixed percentage of breakout price as SL/TP
🔹 Loss Settings
When W : L is chosen as SL/TP Option, this sets the Loss part (L)
Base :
• RCM : Range Cumulative Mean
• ATR : Average True Range of last 200 bars
• Last Swing : Last Swing Low when bullish breakout, last Swing High when bearish breakout
Multiple : x times RCM/ATR
Swing Length : Sets the 'left' period ('right' period is always 1)
Colours : colour of TP/SL box and border
Borders : Style border when breakout levels stop being updated, but TP/SL is not reached. (Default dotted dot , other option is dashed dsh or solid sol )
🔹 Extra
Show Timeframe Change : Show a grey vertical line when a new Higher Timeframe interval begins
Detect False Outbreak
Cancel TP/SL at end of HTF
🔹 Show Dashboard
Location: Location of the dashboard (Top Right or Bottom Right/Left)
Size: Text size (Tiny, Small, Normal)
See USAGE/DETAILS for more information
IchiBot - [SigmaStreet]
The IchiBot Indicator has been used to develop automated trading systems. It leverages the open-source Ichimoku framework provided by Trading View, to enable users to creatively generate over 1 trillion different combinations of trading conditions with the use of multiple timeframes to create unique “signal labels” that can be used to create custom strategies or provide in depth market analysis. At the end of this description, I have provided an example of input settings for a simple scalping strategy that I have back tested on US30 on the 5 minute timeframe.
Overview of the Settings:
The visuals section includes an option to show or hide certain parts of the indicator and change the size of the signal labels plotted on the chart.
Next to the “Signal color on baseline/candles” section, you can choose if you want to see additional signals generations from the most previous plotted label on a color changing baseline, or color changing candles. A color change from gray to blue/red indicate that the conditions from the most previously plotted signal label have been met again.
The next 5 sections are all related to the strategy portion of the indicator, used to aid in the back testing process. These sections are titled “Stop loss”, “Take Profit”, “Trail Stop”, “Trade Settings” and “Trade Schedule”.
The Stop Loss section includes an option to choose between value of “pts”, “atr” (average true range) or “None”. The stop loss value in “pts” is simply a specified number of points or pips from the current entry price of a trade that are input in the “SL” section. If the stop loss type is “atr” the “SL” section is not used and the value is calculated and displaced from the current entry price of a trade based on the atr period multiplied by the atr multiplier.
The take profit section is based on the same logic as the stop loss.
The Trail Stop section includes an option to choose between values “pts” or “None”. If the Trail Stop value is “pts”, a trailing stop loss is activated if a trade moves a point value into profit that exceeds the value of the “Trail Activation”. If the Trail Offset type is “pts”, the trailing stop loss is placed a point value away from the current price that is equal to the “Trail Offset” value.
The trade settings section has two options to either prevent or allow trade reversals and prevent or allow only 1 trade per signal label.
If the “Don’t allow trade reversals” is on, then a currently active trade can not be cancelled by an opposite trade signal. It can only be cancelled by the exit logic selected in the above sections. If the “One trade per signal” is selected, the strategy will only enter a trade if the most recent signal label is different from the last signal label where a trade was entered, or if the most recent signal label is in the opposite direction of the most recent signal label where a trade was entered.
The trade schedule section includes an option to only generate signal labels during the specified time. You can choose between 24/7 which will generate signals without any time restriction, or you can choose a custom time which is based on the America / New York time zone.
The timeframe settings section includes an option to choose “single” or “multiple” timeframes, as well as an option to show every signal label combination (“all”), or only the signal labels with the highest numerical value (“absolute”).
If you select “single” next to “timeframe”, the indicator will show you labels based on trade conditions met from only 1 selected timeframe. If you select “multiple” next to “timeframe”, the indicator is designed to return signal labels based on trade conditions that have been met on at least 2 different timeframes.
If you select “multiple” and “use current timeframe”, the indicator will include labels that always include a minimum of 2 timeframes where 1 timeframe is always the current timeframe. If you unselect the “use current timeframe”, the indicator will include labels with a minimum of 2 timeframes.
If you select “multiple” next to “timeframe” and “all” next to “Show all/absolute labels”, the indicator will show you every possible combination of labels that vary from trade conditions met on a minimum of 2 timeframes, to the maximum number of timeframes selected.
If you select “multiple” next to “timeframe” and “absolute” next to “Show all/absolute labels”, the indicator will only show you labels where the numerical value is equivalent to the maximum number of timeframes selected.
Each signal label provides a number which refers to the number of timeframes used to generate the label, offering insights briefly. Hover over a label to reveal detailed tooltip information that details the exact timeframes used to generate each label.
You can choose all from “Show all/absolute labels” to see every possible combination of trade signals or “absolute” to only see labels that have the highest possible numerical value. Absolute means that every condition selected from every timeframe was calculated to be true at the same time on the same candle.
The next 8 sections are “Current timeframe trade conditions”, “1-minute timeframe trade conditions”, “5-minute timeframe trade conditions”, “15-minute timeframe trade conditions”, “30-minute timeframe trade conditions”, “1-hour timeframe trade conditions”, “4-hour timeframe trade conditions”, “Daily timeframe trade conditions”.
These sections include the same 10 trade conditions, that can be used independently, or in combination with each other. This brings the total number of trade conditions to 70.
The final section includes a standard option to adjust the current Ichimoku values.
Understanding the Calculations:
The term “future” refers to a value that is calculated 26 candles to the right of the most recent closing price.
The term “current” refers to a value that is calculated on the most recent closing price.
The term “past” refers to a value that is calculated 26 candles to the left of the most recent closing price.
Bullish is referred to as “blue” and bearish is referred to as “red”.
Buy Signals:
1. The current closing price is greater than the current cloud value.
2. The future cloud is blue.
3. The current closing price is greater than the current conversion line.
4. The current conversion line is greater than the current baseline.
5. The lagging span is greater than the closing price of the last 25 candles.
6. The lagging span is greater than the past cloud.
7. The lagging span is greater than the past conversion line and the past baseline.
8. The current conversion line is greater than the current cloud.
9. The current baseline is greater than the current cloud.
10. The value of the current cloud to the future cloud is completely blue.
Sell Signals:
1. The current closing price is less than the current cloud value.
2. The future cloud is red.
3. The current closing price is less than the current conversion line.
4. The current conversion line is less than the current baseline.
5. The lagging span is less than the closing price of the last 25 candles.
6. The lagging span is less than the past cloud.
7. The lagging span is less than the past conversion line and the past baseline.
8. The current conversion line is less than the current cloud.
9. The current baseline is less than the current cloud.
10. The value of the current cloud to the future cloud is completely red.
The script enables users to access the value of these 10 trade conditions across the 7 major time frames (1-minute, 5-minute, 15-minute, 30-minute, 1-hour, 4-hour, Daily, and the current charts time frame) by using the official non repainting request security function provided by Trading View:
f_secSecurity(_src, _res, _exp) =>
request.security(_src, _res, _exp )
This indicator provides up to 70 variables (10 variables X 7 timeframes) that can be used separately, or in combination to generate signal labels.
Enhance your visual analysis with a color-changing baseline and candle colors that adapt to signal shifts, offering an immediate understanding of market trends. The base line will change from gray to blue/red which will reference the most previously plotted signal label. This change in color indicate that the conditions from the most recently plotted signal label have been met once again. Please refer to the example below.
Adjustments to the Ichimoku Indicator:
The script uses a slightly refined version of the Ichimoku indicator to calculate 10 different “trade conditions”. Each trade condition can create 1 bullish signal label and 1 bearish signal label. The calculations are primarily based on “greater than and less than logic” which is standard for signal generation.
In the original Ichimoku calculations, the “Lagging Span” has a default value of 26 periods. In the actual calculations, this input with the title “Lagging Span” is referred to as the “displacement”. When the lagging span is plotted on the chart, it is plotted with an offset value of offset = -displacement + 1 which technically plots the lagging span 25 candles to the left the most recent candle (if you count the most recent closing price as 0 and not 1). The clouds are plotted with an offset of offset = displacement -1 which technically plots the clouds 25 candles to the right of the most recent candle.
I have adjusted the logic of the Ichimoku indicator so the lagging span is still plotted 25 candles to the left of the most recently confirmed candle close, but the cloud is plotted 26 candles to the right of the most recent confirmed candle close.
This seemingly small adjustment of one candle cannot simply be adjusted in the settings of the original Ichimoku indicator since the calculations of the cloud and lagging span displacements are directly affected by the same value (displacement = 26, also known as the “lagging span”). My script is adjusted to make calculations where the lagging span is 25 candles to the left of the most recent candle, and the cloud is displaced 26 candles to the right of the most recent candle.
For example, my scripts logic to detect if the current closing price is over the current cloud is (close > leadLead1 and close > leadLine2 and leadLine1 > leadLine2 . By using a lookback of , the logic assumes that the displaced value is 26 bars to the right of the most recent candle. My script also reflects this logic in the plotted values of the cloud where the offset values are offset = displacement. This adjustment is made without affecting any other part of the Ichimoku indicators calculations, only the displacement of the cloud which directly affects the logic of trade conditioins. This change is a deliberate and necessary function of this script’s logic to generate trade conditions and signal labels.
I’ve removed the conversion line and the lagging span and introduced a 26-period pivot high/low to provide a less cluttered chart. The pivot high/low looks 26 periods to the left and only 1 period to the right. The lagging span and conversion line logic is still built into the framework of the trading signals. If you choose to enable the lagging span, or conversion line.
trading approach, and always test your strategies thoroughly.
The function to generate the "Signal Labels" calculates every single possible combination of the 7 different timeframes which is a total of 127 combinations for bullish signal labels, and 127 combinations for bearish signal labels. This function also provides the necessary criteria for the strategy entry conditions, based on the dynamically calculated values derived from the signal labels themselves. For example: "buy signal on 1 minute and 5 minute timeframe" is considered 1 combination, and "Buy signal on current, 5 minute, 15 minute, 30 minute, 1 hour, 4 hour and daily timeframe" is also considered 1 combination. There are a total of 254 combinations between buy and sell signal labels along with 254 individual variables with their own unique tool tip description. The signal label function alone spans over 1340 lines of code (minus spaces and comments) to specifically account for every possible variable combination. This unique and original function also calculates the signal label "value" which is the number you see on the signal label. This function adjusts the amount of labels plotted, the value and description of all labels based on the timeframe settings "single"/"multiple", the use of "use current timeframe" setting, and the "trade schedule". This signal label function has been a landmark piece of code for me in my endeavor to create and optimize my strategies based on its ability to provide an in depth analysis of the timeframes used when generating signal labels. This function is main reason that this script has been published closed source.
Back tested results.
The current results are from US30 (Dow Jones Industrial Average CFD) on the 5-minute timeframe using regular candles. The inputs are as follows:
Stop loss = 5000 pts
No take profit.
Trail activation = 100 pts
Trail offset = 100 pts
Don’t allow trade reversals
Trade 24/7
Timeframe = multiple
Show absolute signals
Use current timeframe, lag span over/under candles
Use 30m timeframe, all cloud is bull/bear
Initial capital = $10,000 USD, 1 contract, $0.07 per contract, slippage = 3 ticks, use bar magnifier = on
Timeframe = June 1st, 2023 – November 10th, 2023, risk = 5% (greatest loosing trade = $500.44)
Ceres Trader MTF Triple EMA with SmoothingDescription:
The "Ceres Trader MTF EMA with Smoothing" indicator is a versatile tool designed for traders who rely on Exponential Moving Averages (EMAs) for their technical analysis. This indicator uniquely blends the concept of EMAs with customizable smoothing techniques, enhancing the clarity and interpretability of moving average lines on your charts.
Features:
Triple EMA Visualization: Visualize three distinct EMAs on your chart, each customizable in terms of length, timeframe, and color. This triple-layer approach allows for a comprehensive view of price trends across different time periods.
User-defined EMA Lengths: Set the lengths of all three EMAs according to your trading strategy. The default length is set at 20 bars, but this can be easily adjusted to suit different trading styles and timeframes.
Flexible Timeframes: Each EMA can be plotted based on different timeframes, providing a multi-timeframe analysis within a single chart view.
Smoothing Techniques: Choose from five different smoothing methods (SMA, EMA, SMMA, WMA, VWMA) to refine the EMA lines. This feature reduces market “noise” and helps in identifying the true underlying trends.
Enhanced Smoothing for Longer Timeframes: The indicator applies an advanced double smoothing technique to the EMA of the longest timeframe, offering an even smoother line that is beneficial for long-term trend analysis.
Customizable Aesthetics: Personalize the appearance of each EMA line with a selection of colors, enhancing visual differentiation and readability.
Benefits:
Versatility: Suitable for various trading styles, including swing trading, day trading, and long-term trend following.
Clarity in Trend Analysis: The smoothing techniques help in filtering out market noise, making it easier to identify meaningful trends.
Multi-Timeframe Analysis: The ability to view EMAs from different timeframes simultaneously offers a comprehensive analysis, saving time and enhancing decision-making.
Ideal for: Traders looking for a customizable and insightful way to use EMAs in their market analysis. Whether you are a beginner or an experienced trader, this indicator's flexibility and depth can add significant value to your technical analysis toolkit.
BUY/SELL RSI FLIUX v1.0The "BUY/SELL RSI FLUX v1.0" indicator is designed to provide buy and sell signals based on the RSI (Relative Strength Index) and price action in relation to support and resistance levels. It overlays directly on the price chart and includes the following components:
- Support and Resistance Levels: Determined over a specified number of bars (lengthSR), these levels represent potential barriers where price action may stall or reverse.
- ATR (Average True Range): Used to measure market volatility. While it's calculated in the script, it's not visualized on the chart as per the latest modification.
- RSI: The RSI is calculated over a defined period (lengthRSI) and is used to identify overbought or oversold conditions. Buy signals are generated when the RSI is below the oversold threshold (rsiOversold) and the price is above the support level. Conversely, sell signals occur when the RSI is above the overbought threshold (rsiOverbought), the price is below the resistance level, and additionally, the price is below a long-term moving average, which acts as a trend filter.
- Long-Term Moving Average: This moving average is plotted to help identify the prevailing market trend. Sell signals are filtered based on the price's position in relation to this moving average.
- Buy/Sell Signals: Visual representations in the form of shapes are plotted below (for buy) or above (for sell) the price bars to indicate potential entry points.
By combining these elements, the indicator aims to provide high-probability trading signals that align with both the market's momentum and trend.
Predictive Indicator Matrix v2 (public)Predictive Indicator Matrix for TradingView
The "Predictive Indicator Matrix" is an advanced analytical tool for TradingView, designed to work across multiple timeframes from 1D to 5m. It employs a complex algorithm combining various technical indicators such as the Ichimoku Cloud, ADX, five EMAs, slow and fast versions of MACD, Stochastic Oscillator, and RSI. This combination is meticulously curated to provide a multifaceted view of the market.
The uniqueness of this script lies in its trigonometric and mathematical logic. It utilizes trigonometric functions, like the arctangent and cosine functions, to calculate the 'bias' and 'score' of market trends, presented in decimal percentages (%). These calculations are pivotal in understanding market dynamics and potential directional changes. The 'bias' is calculated using the cosine of the arctangent of the ratio between current and previous scores, adjusted for market shift. This innovative approach provides a nuanced understanding of market momentum and trend strength.
Furthermore, the script dynamically generates prediction lines based on these calculations. These lines represent potential future market paths, plotted using the current market data and the calculated levels from the matrix. This feature visually represents the script's analysis, offering users an intuitive and actionable insight into potential market movements.
The integration of these indicators, along with the trigonometric calculations, makes the script not only unique but also a powerful tool for traders. It encapsulates various market aspects in one matrix, offering a comprehensive analysis that goes beyond traditional indicator-based strategies.
Note 1: This tool is intended for market analysis and should not be construed as investment advice.
Note 2: Community engagement is encouraged. For additional features like a time display on the table, please provide feedback in the comments. I am open to incorporating such features to enhance the tool's utility based on user preference.
Vwap MTFExplanatory Note: VWAP Multi-Timeframe Script (Dedicated to Intraday Trading)
Description:
This Pine script has been specifically designed for intraday traders to display the VWAP (Volume Weighted Average Price) from four different timeframes (15 minutes, 1 hour, 4 hours, and daily) on a single TradingView chart. The VWAP is calculated by considering the volume-weighted average price over a specified period, providing a perspective on the market's average value. This script streamlines your analysis by avoiding the need to navigate through multiple timeframes to identify the trend.
Usage Instructions:
Apply the script to your TradingView chart.
The script will showcase the average VWAP for 15 minutes, 1 hour, 4 hours, and daily on the current chart.
The color of the VWAP indicates the direction: blue if the VWAP is higher than the previous period, red otherwise.
Parameters:
VWAP Period Length (length): The length of the period used for VWAP calculation. By default, the length is set to 30 bars.
Explanation of VWAP: "This VWAP will be more precise for your analysis and closer to price/volume."
VWAP is a crucial indicator for intraday traders, taking into account transaction volume. It provides a volume-weighted average price over a specified period, assisting traders in evaluating the average value at which an asset has been traded throughout the day. "It can be wise for the self-directed investor to use VWAP in combination with moving averages or other technical indicators to confirm buy and sell signals."
You have the option to change the colors.
Dope DPOThe "Dope DPO" (DDPO) indicator is a technical analysis tool designed for traders to identify trends and potential trend changes in the market. It's based on the concept of the Detrended Price Oscillator (DPO), but with several enhancements for greater versatility and user customization.
Key Features of the Dope DPO Indicator:
Averaging Multiple Periods: The indicator averages the DPO calculations over ten different time periods. This averaging helps in smoothing out the volatility and providing a more comprehensive view of the market trend.
Customizable Smoothing: Users can choose the length of the smoothing as well as the type of moving average (SMA, EMA, WMA, or RMA) for smoothing. This allows for flexibility in how the indicator responds to price changes.
Trend Change Detection: The indicator includes a feature to detect changes in the market trend. It does this by comparing the current value of the smoothed DPO to its value a specified number of bars back. This helps in identifying potential reversals or shifts in momentum.
Dynamic Color Coding: The indicator uses color coding (green and red) to visually represent the trend direction. If the smoothed DPO is trending upwards compared to a previous value, the color will be green, indicating bullish momentum. Conversely, a red color signifies bearish momentum.
Horizontal Reference Lines: It includes horizontal lines at specific levels (overbought, zero, and oversold) to provide reference points for interpreting the indicator's values.
Usage:
Traders can use the Dope DPO to gauge the overall market trend and to look for potential entry and exit points based on trend changes.
The color-coded histogram makes it easy to spot when the trend might be reversing, which can be particularly useful in conjunction with other technical analysis tools.
The flexibility in choosing the smoothing method and length allows traders to tailor the indicator to different trading styles and timeframes.
Dual_MACD_trendingINFO:
This indicator is useful for trending assets, as my preference is for low-frequency trading, thus using BTCUSD on 1D/1W chart
In the current implementation I find two possible use cases for the indicator:
- as a stand-alone indicator on the chart which can also fire alerts that can help to determine if we want to manually enter/exit trades based on the signals from it (1D/1W is good for non-automated trading)
- can be used to connect to the Signal input of the TTS (TempalteTradingStrategy) by jason5480 in order to backtest it, thus effectively turning it into a strategy (instructions below in TTS CONNECTIVITY section)
Trading period can be selected from the indicator itself to limit to more interesting periods.
Arrow indications are drawn on the chart to indicate the trading conditions met in the script - light green for HTF crossover, dark green for LTF crossover and orange for LTF crossunder.
Note that the indicator performs best in trending assets and markets, and it is advisable to use additional indicators to filter the trading conditions when market/asset is expected to move sideways.
DETAILS:
It uses a couple of MACD indicators - one from the current timeframe and one from a higher timeframe, as the crossover/crossunder cases of the MACD line and the signal line indicate the potential entry/exit points.
The strategy has the following flow:
- If the weekly MACD is positive (MACD line is over the signal line) we have a trading window.
- If we have a trading window, we buy when the daily macd line crosses AND closes above the signal line.
- If we are in a position, we await the daily MACD to cross AND close under the signal line, and only then place a stop loss under the wick of that closing candle.
The user can select both the higher (HTF) and lower (LTF) timeframes. Preferably the lower timeframe should be the one that the Chart is on for better visualization.
If one to decide to use the indicator as a strategy, it implements the following buy and sell criterias, which are feed to the TTS, but can be also manually managed via adding alerts from this indicator.
Since usually the LTF is preceeding the crossover compared to the HTF, then my interpretation of the strategy and flow that it follows is allowing two different ways to enter a trade:
- crossover (and bar close) of the macd over the signal line in the HIGH TIMEFRAME (no need to look at the LOWER TIMEFRMAE)
- crossover (and bar close) of the macd over the signal line in the LOW TIMEFRAME, as in this case we need to check also that the macd line is over the signal line for the HIGH TIMEFRAME as well (like a regime filter)
The exit of the trade is based on the lower timeframe MACD only, as we create a stop loss equal to the lower wick of the bar, once the macd line crosses below the signal line on that timeframe
SETTINGS:
All of the indicator's settings are for the vanilla/general case.
User can set all of the MACD parameters for both the higher and lower (current) timeframes, currently left to default of the MACD stand-alone indicator itself.
The start-end date is a time filter that can be extermely usefull when backtesting different time periods.
TTS SETTINGS (NEEDED IF USED TO BACKTEST WITH TTS)
The TempalteTradingStrategy is a strategy script developed in Pine by jason5480, which I recommend for quick turn-around of testing different ideas on a proven and tested framework
I cannot give enough credit to the developer for the efforts put in building of the infrastructure, so I advice everyone that wants to use it first to get familiar with the concept and by checking
by checking jason5480's profile www.tradingview.com
The TTS itself is extremely functional and have a lot of properties, so its functionality is beyond the scope of the current script -
Again, I strongly recommend to be thoroughly epxlored by everyone that plans on using it.
In the nutshell it is a script that can be feed with buy/sell signals from an external indicator script and based on many configuration options it can determine how to execute the trades.
The TTS has many settings that can be applied, so below I will cover only the ones that differ from the default ones, at least according to my testing - do your own research, you may find something even better :)
The current/latest version that I've been using as of writing and testing this script is TTSv48
Settings which differ from the default ones:
- from - False (time filter is from the indicator script itself)
- Deal Conditions Mode - External (take enter/exit conditions from an external script)
- 🔌Signal 🛈➡ - Dual_MACD: 🔌Signal to TTSv48 (this is the output from the indicator script, according to the TTS convention)
- Sat/Sun - true (for crypto, in order to trade 24/7)
- Order Type - STOP (perform stop order)
- Distance Method - HHLL (HigherHighLowerLow - in order to set the SL according to the strategy definition from above)
The next are just personal preferenes, you can feel free to experiment according to your trading style
- Take Profit Targets - 0 (either 100% in or out, no incremental stepping in or out of positions)
- Dist Mul|Len Long/Short- 10 (make sure that we don't close on profitable trades by any reason)
- Quantity Method - EQUITY (personal backtesting preference is to consider each backtest as a separate portfolio, so determine the position size by 100% of the allocated equity size)
- Equity % - 100 (note above)
EXAMPLES:
If used as a stand-alone indicator, the green arrows on the bottom will represent:
- light green - MACD line crossover signal line in the HTF
- darker green - MACD line crossover signal line in the LTF
- orange - MACD line crossunder signal line in the LTF
I recommend enabling the alerts from the script to cover those cases.
If used as an input to the TTS, we'll get more decorations on the chart from the TTS itself.
In the example below we open a trade on the next day of LTF crossover, then a few days later a crossunder in the LTF occurs, so we set a SL at the low of the wick of this day. Few days later the price doesn't recover and hits that SL, so the position is closed.
High and low of last D, W, 4W and quaterThis script shows you the Highs and Lows from multiple candels from some different timeframes. They are the 1D, 1W, 4W (a month basically), and 3M (a quater). The indicator offery you many customization option to make it look how you like it best
Smooth Trail V2Please, enjoy your new game-changing tradingview indicator, may I present to you: the Smooth Trail (second version), with an updated script and open source script to let anyone use it freely.
The Smooth Trail is an indicator that works just like a super trend, but it has a completely different usage and potential.
The super trend works by following the price and displaying a line that uses the ATR to determine how far it has to be from the actual price, and many new traders like to use the indicator thanks to its easy readability and the buy-sell signals that it shows, unfortunately, this is not the best usage of the indicator and it often leads to losing money on the markets.
The main characteristic that this indicator has is that, not like the normal super trend, it follows the trend better adapting itself in the retracement phases.
The second feature that dictates the best usage of this indicator, is that it shows a zone in which to buy or sell to have the best risk-to-reward ratio.
The indicator also works as the dynamic level of support and resistance and can be used best for trend-following strategies to maximize profits.
The first input, the multiplier, is used to determine how many times the ATR has to be added or subtracted in order to plot the indicator.
The second input, the length, is used to determine how many candles the indicator and the ATR have to consider for the calculation.
The third and last input, the zone width, is used to calculate the width of the zone displayed by the indicator, and is the factor that will be multiplied by the ATR, this means that if you leave the settings as default, the zone will be 1 ATR or 34 candle width.
This indicator is great to use in confluence with other indicators or with various candlestick patterns.
Multi-TrendMulti-Trend is an indicator that simplifies the task of tracking market trends across up to 10 custom timeframes. With the flexibility to select your preferred timeframes, with current or any specific data in past, this indicator offers a clear visual representation of the market's direction.
For each chosen timeframe and history, Multi-Trend provides a straightforward arrow-based signal system: an upward arrow signifies a rising market, a downward arrow indicates a falling market, and a right arrow denotes a market at equilibrium. These default symbols can be effortlessly personalized to your choice of symbols or text, allowing you to tailor the indicator to your specific needs.
The trend direction is calculated using a reliable methodology based on the percentage change in the close price for the selected timeframe.
HDBhagat multi time frame box analysis
Title: Multi-Timeframe Box Analysis Indicator
Description:
The Multi-Timeframe Box Analysis Indicator is a powerful tool designed for use on the TradingView platform. It provides a visual representation of price movements across multiple timeframes, allowing traders to gain insights into potential trend changes and key support/resistance levels.
Key Features:
Multi-Timeframe Analysis: The indicator analyzes price data across different timeframes (1W, 1D, 4H, and 1H) simultaneously, providing a comprehensive view of market trends.
Box Visualization: The indicator represents price movements within each timeframe as colored boxes. Green boxes indicate bullish price action, while red boxes represent bearish movements.
Customizable Settings: Traders can easily adjust the input parameters to suit their specific trading preferences, including timeframe selection and box appearance settings.
Historical and Real-Time Updates: The indicator updates in real-time, ensuring that traders have access to the latest information. It also accounts for historical data to provide context for past price movements.
How to Use:
Apply the Multi-Timeframe Box Analysis Indicator to your TradingView chart.
Customize the indicator settings according to your preferred timeframes and visual preferences.
Observe the boxes on the chart to identify trends, potential reversals, and key support/resistance levels.
Use the information provided by the indicator to make informed trading decisions.
Disclaimer:
This indicator is a visual representation of historical and real-time price movements and is intended for informational purposes only. It does not guarantee future performance or trading success. Traders should conduct their own analysis and consider additional factors before making any trading decisions.
Note: Past performance is not indicative of future results. Always use proper risk management and consider consulting a financial advisor before making any trading decisions.
ICT Silver Bullet with signals
The "ICT Silver Bullet with signals" indicator (inspired from the lectures of "The Inner Circle Trader" (ICT)),
goes a step further than the ICT Silver Bullet publication, which I made for LuxAlgo :
• uses HTF candles
• instant drawing of Support & Resistance (S/R) lines when price retraces into FVG
• NWOG - NDOG S/R lines
• signals
The Silver Bullet (SB) window which is a specific 1-hour interval where a Fair Value Gap (FVG) pattern can be formed.
When price goes back to the FVG, without breaking it, Support & Resistance lines will be drawn immediately.
There are 3 different Silver Bullet windows (New York local time):
The London Open Silver Bullet (03 AM — 04 AM ~ 03:00 — 04:00)
The AM Session Silver Bullet (10 AM — 11 AM ~ 10:00 — 11:00)
The PM Session Silver Bullet (02 PM — 03 PM ~ 14:00 — 15:00)
🔶 USAGE
This technique can visualise potential support/resistance lines, which can be used as targets.
The script contains 2 main components:
• forming of a Fair Value Gap (FVG)
• drawing support/resistance (S/R) lines
🔹 Forming of FVG
When HTF candles forms an FVG, the FVG will be drawn at the end (close) of the last HTF candle.
To make it easier to visualise the 2 HTF candles that form the FVG, you can enable
• SHOW -> HTF candles
During the SB session, when a FVG is broken, the FVG will be removed, together with its S/R lines.
The same goes if price did not retrace into FVG at the last bar of the SB session
Only exception is when "Remove broken FVG's" is disabled.
In this case a FVG can be broken, as long as price bounces back before the end of the SB session, it will remain to be visible:
🔹 Drawing support/resistance lines
S/R target lines are drawn immediately when price retraces into the FVG.
They will remain updated until they are broken (target hit)
Potential S/R lines are formed by:
• previous swings (swing settings (left-right)
• New Week Opening Gap (NWOG): close on Friday - weekly open
• New Day Opening Gap (NWOG): close previous day - current daily open
Only non-broken lines are included.
Broken =
• minimum of open and close below potential S/R line
• maximum of open and close above potential S/R line
NDOG lines are coloured fuchsia (as in the ICT lectures), NWOG are coloured white (darkmode) or black (lightmode ~ ICT lectures)
Swing line colour can be set as desired.
Here S/R includes NDOG lines:
The same situation, with "Extend Target-lines to their source" enabled:
Here with NWOG lines:
This publication contains a "Minimum Trade Framework (mTFW)", which represents the best-case expected price delivery, this is not your actual trade entry - exit range.
• 40 ticks for index futures or indices
• 15 pips for Forex pairs
The minimum distance (if applicable) can be shown by enabling "Show" - "Minimum Trade Framework" -> blue arrow from close to mTFW
Potential S/R lines needs to be higher (bullish) or lower (bearish) than mTFW.
🔶 SETTINGS
(check USAGE for deeper insights and explanation)
🔹 Only last x bars: when enabled, the script will do most of the calculations at these last x candles, potentially this can speeds calculations.
🔹 Swing settings (left-right): Sets the length, which will set the lookback period/sensitivity of the ZigZag patterns (which directs the trend and points for S/R lines)
🔹 FVG
HTF (minutes): 1-15 minutes.
• When the chart TF is equal of higher, calculations are based on current TF.
• Chart TF > 15 minutes will give the warning: "Please use a timeframe <= 15 minutes".
Remove broken FVG's: when enabled the script will remove FVG (+ associated S/R lines) immediately when FVG is broken at opposite direction.
FVG's still will be automatically removed at the end of the SB session, when there is no retrace, together with associated S/R lines,...
~ trend: Only include FVG in the same direction as the current trend
Note -> when set 'right' (swing setting) rather high ( > 3), he trend change will be delayed as well (default 'right' max 5)
Extend: extend FVG to max right side of SB session
🔹 Targets – support/resistance
Extend Target-lines to their source: extend lines to their origin
Colours (Swing S/R lines)
🔹 Show
SB session: show lines and labels of SB session (+ colour)
• Labels can be disabled separately in the 'Style' section, colour is set at the 'Inputs' section
Trend : Show trend (ZigZag, coloured ~ trend)
HTF candles: Show the 2 HTF candles that form the FVG
Minimum Trade Framework: blue arrow (if applicable)
🔶 ALERTS
There are 4 signals provided (bullish/bearish):
FVG Formed
FVG Retrace
Target reached
FVG cancelled
You can choose between dynamic alerts - only 1 alert needs to be set for all signals, or you can set specific alerts as desired.
💜 PURPLE BARS 😈
• Since TradingView has chosen to give away our precious Purple coloured Wizard Badge, bars are coloured purple 😊😉
Week designationThe script is primarily used for visualizing the beginning and end of the week. It is particularly helpful when working with time intervals shorter than one day. In a very simple and clear manner, you can see when a specific week has started. This makes it easier to assess the market sentiment in a short timeframe.
Here are the operating principles of this script:
Initialization:
The script begins with initialization, where basic parameters and settings such as line colors and line style are defined.
Determining the Session Start:
The startSession(hour, minute) function is used to calculate the starting time of a session on the chart. Sessions can be divided into different time intervals, such as the daily session (D), weekly session (W), and monthly session (M).
Checking for Session Start:
The script checks if a new session is starting. If so, a vertical line is inserted on the chart to mark the beginning of that session.
isSessionStart checks for the start of the daily session.
isSessionStart_2 checks for the start of the weekly session.
isSessionStart_3 checks for the start of the monthly session.
Marking Mondays:
The script checks if the current day is Monday (the day of the week number 2 represents Monday).
If the current session is starting or it is Monday, a vertical line is inserted on the chart with the day designation (color color_day).
Marking Lines on the Chart:
The lines inserted on the chart are vertical and have a specified style and color, which can be customized in the settings.
Top/Bottom DetectorThis indicator tries to detect tops and bottoms based on time and price. It counts candles using a simple criteria in both bullish and bearish directions. The count is added by 1 for each consecutive candle that matches this criteria. When a candle doesn't match the criteria the count is broken and will start over. A top or bottom is detected when the count reaches its maximum and is plotted on the chart as a red arrow (top) or a green arrow (bottom). Be aware that a top or bottom can be extended for several time periods and is broken only when the criteria no longer matches. Depending on your trading strategy, it can be advised to wait for the top/bottom to be broken before entering the trade.
How it works
The bullish count compares current candle with a candle X periods in the past. If the current candle price is higher than the past candle it matches and the count is added by 1. The bearish count works in the same way as the bullish count except that it matches if the current candle price is lower than the past candle instead of higher. The default parameters is to compare current candle close with the candle close 4 periods in the past, using a count of 9 as the maximum that detects a top or bottom. These values can all be adjusted in the settings.
Multi Timeframe Table
The multi timeframe table is visible by default in the top right corner. It gives some insight in what the count is for the current ticker in different timeframes. A bullish count will color the cell green and a bearish count red. Note that only timeframes higher or equal to what is used on the chart can be displayed. Any lower timeframes in the table will be grayed out and show the text N/A.
Alerts
Alerts can be setup when a bottom or top is detected. Using the "Any alert() function call" condition will alert both bottoms and tops.
