RSI + Normalized Fisher Transform with SignalsThis indicator combines three tools for market analysis: the Relative Strength Index (RSI), the RSI's moving average, and the Fisher Transform. RSI is a momentum oscillator that measures the speed and change of price movements, helping identify overbought and oversold conditions. The RSI moving average is a smoothed version of the RSI that filters noise and confirms trends. The Fisher Transform is a mathematical technique that transforms price data into a Gaussian normal distribution, making it easier to identify turning points. It has been normalized to the same scale as the RSI (0-100) for consistency.
Purpose
The goal of this indicator is to identify potential buy and sell opportunities with varying degrees of strength (strong and weak). By combining the RSI, its moving average, and the Fisher Transform, the indicator ensures signals are based on both momentum and reversals, making it highly versatile across different market conditions.
Key Features
This indicator provides strong and weak buy and sell signals. A strong buy occurs when the RSI crosses above its moving average while both the RSI and its moving average are oversold (below the default threshold of 30), and the Fisher Transform reverses direction within the same or prior bar while also being oversold. A weak buy occurs when the Fisher Transform is oversold, and the RSI crosses above its moving average while its value is between the default oversold threshold (30) and 50. A strong sell occurs when the RSI crosses below its moving average while both the RSI and its moving average are overbought (above the default threshold of 70), and the Fisher Transform reverses direction within the same or prior bar while also being overbought. A weak sell occurs when the Fisher Transform is overbought, and the RSI crosses below its moving average while its value is between 50 and the default overbought threshold (70).
The indicator includes customizable thresholds and lengths. Users can adjust the oversold and overbought thresholds to suit their trading style. The RSI length, moving average length, and Fisher Transform length are also customizable. The Fisher Transform is scaled to the RSI’s range of 0-100 to simplify analysis and signal interpretation.
How to Use the Indicator
On the chart, you will see the RSI line in blue, the RSI moving average in orange, and the Fisher Transform in purple. Horizontal lines at the default oversold (30) and overbought (70) levels mark critical zones for signals. Adjust these thresholds in the indicator settings as needed.
Strong buy signals are shown as larger, darker green arrows below the price. Weak buy signals are small lime arrows below the price. Strong sell signals are larger, darker red arrows above the price. Weak sell signals are small fuchsia arrows above the price.
Signal Interpretation
A strong buy indicates a highly favorable buying opportunity. This typically occurs when the asset is in a downtrend but shows signs of reversal, particularly in oversold zones. A weak buy suggests a potential buying opportunity but with less conviction, often when the market is neutral to slightly bearish but showing upward momentum. A strong sell indicates a highly favorable selling opportunity, usually occurring when the asset is in an uptrend but shows signs of reversal, particularly in overbought zones. A weak sell suggests a potential selling opportunity but with less conviction, often in neutral to slightly bullish markets showing downward momentum.
Practical Tips
Avoid using signals in isolation. Combine this indicator with other tools such as trendlines, moving averages, or support/resistance levels for greater accuracy. Adjust the parameters for different assets to match their volatility. For volatile assets, consider wider thresholds like 20/80 for oversold/overbought levels. For less volatile assets, tighter thresholds like 35/65 may be more appropriate. Use higher timeframes to confirm signals before trading on lower timeframes. Be cautious in sideways markets, as both RSI and the Fisher Transform perform better in trending conditions.
Instructions for Adjustments
To change the oversold or overbought levels, open the indicator settings by clicking the gear icon and modify the "Oversold Threshold" and "Overbought Threshold" values. To adjust lengths for RSI and Fisher Transform, update the "RSI Length," "RSI Moving Average Length," and "Fisher Transform Length" settings. If needed, toggle signal visibility by enabling or disabling specific arrows (Strong Buy, Weak Buy, Strong Sell, Weak Sell) in the "Style" tab.
Best Practices
Risk management is essential. Always set appropriate stop-loss levels and position sizes based on your risk tolerance. Backtest the indicator on historical data to understand its performance and behavior for your chosen asset and timeframe. Combining this indicator with volume or volatility analysis (Bollinger Band Width, for example) can help confirm signal validity.
This indicator simplifies decision-making by identifying high-probability trading opportunities using a combination of momentum, trend, and reversals. Follow these instructions to fully utilize its capabilities without needing to analyze the underlying code.
Индикаторы и стратегии
Ultimate Volatility RateUltimate Volatility Rate
This indicator measures the volatility of price movements.
Support and Resistance Identification:
High volatility periods indicate larger price movements, which can be useful in assessing the potential for support and resistance levels to be broken.
Stop Loss (SL) and Take Profit (TP) Calculations:
The average volatility can be used to calculate dynamic Stop Loss (SL) and Take Profit (TP) levels:
SL: Placing it at a certain volatility multiplier below/above the entry price.
TP: Setting it at a certain volatility multiplier below/above the entry price.
For example:
SL: Entry price +/- (UVR × 1.5)
TP: Entry price +/- (UVR × 2)
Market Condition Analysis:
When the indicator value is high, it suggests that the market is volatile (active).
When the value is low, it indicates the market is in consolidation (sideways movement).
This information helps traders decide whether to take trend-following or consolidation-based positions.
Trend Reversal Monitoring:
A sudden increase in volatility often signals the start of a strong trend.
Conversely, a decrease in volatility can signal the slowing down or end of a trend.
Whale Supertrend (V1.0)The script "Whale Supertrend (V1.0)" is an advanced trend indicator that uses multiple Supertrends with different factors to determine entry and exit points in the market. The Supertrend is a popular indicator that combines price and volatility to help identify trend direction. The script displays buy and sell signals based on the confluence of Supertrends.
How the script works
Configuring Supertrends
The script configures six Supertrends with different factors (factor, factor1, factor2, factor3, factor4, factor5) while using the same ATR period (atrPeriod = 10).
Supertrend 1: factor = 3
Supertrend 2: factor1 = 4
Supertrend 3: factor2 = 6
Supertrend 4: factor3 = 9
Supertrend 5: factor4 = 13
Supertrend 6: factor5 = 18
For each Supertrend, the bullish (blue) and bearish (purple) trend conditions are plotted on the chart.
Signal Calculation
The script calculates the number of Supertrends in bullish and bearish trend:
bullishCount: Number of Supertrends indicating a bullish trend.
bearishCount: Number of Supertrends indicating a bearish trend.
Signal Detection
The script triggers a buy or sell signal when at least three of the six Supertrends indicate the same trend:
Buy Signal (buySignal): Triggers when bullishCount is greater than or equal to 3.
Sell Signal (sellSignal): Triggers when bearishCount is greater than or equal to 3.
To avoid repetition, signals are only displayed when the state changes:
triggerBuy: Buy signal only when buySignal becomes true for the first time.
triggerSell: Sell signal only when sellSignal becomes true for the first time.
LRSI-TTM Squeeze - AynetThis Pine Script code creates an indicator called LRSI-TTM Squeeze , which combines two key concepts to analyze momentum, squeeze conditions, and price movements in the market:
Laguerre RSI (LaRSI): A modified version of RSI used to identify trend reversals in price movements.
TTM Squeeze: Identifies market compressions (low volatility) and potential breakouts from these squeezes.
Functionality and Workflow of the Code
1. Laguerre RSI (LaRSI)
Purpose:
Provides a smoother and less noisy version of RSI to track price movements.
Calculation:
The script uses a filtering coefficient (alpha) to process price data through four levels (L0, L1, L2, L3).
Movement differences between these levels calculate buying pressure (cu) and selling pressure (cd).
The ratio of these pressures forms the Laguerre RSI:
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LaRSI = cu / (cu + cd)
The LaRSI value indicates:
Below 20: Oversold condition (potential buy signal).
Above 80: Overbought condition (potential sell signal).
2. TTM Squeeze
Purpose:
Analyzes the relationship between Bollinger Bands (BB) and Keltner Channels (KC) to determine whether the market is compressed (low volatility) or expanded (high volatility).
Calculation:
Bollinger Bands:
Calculated based on the moving average (SMA) of the price, with an upper and lower band.
Keltner Channels:
Created using the Average True Range (ATR) to calculate an upper and lower band.
Squeeze States:
Squeeze On: BB is within KC.
Squeeze Off: BB is outside KC.
Other States (No Squeeze): Neither of the above applies.
3. Momentum Calculation
Momentum is computed using the linear regression of the difference between the price and its SMA. This helps anticipate the direction and strength of price movements when the squeeze ends.
Visuals on the Chart
Laguerre RSI Line:
An RSI indicator scaled to 0-100 is plotted.
The line's color changes based on its movement:
Green line: RSI is rising.
Red line: RSI is falling.
Key levels:
20 level: Oversold condition (buy signal can be triggered).
80 level: Overbought condition (sell signal can be triggered).
Momentum Histogram:
Displays momentum as histogram bars with colors based on its direction and strength:
Lime (light green): Positive momentum increasing.
Green: Positive momentum decreasing.
Red: Negative momentum decreasing.
Maroon (dark red): Negative momentum increasing.
Squeeze Status Indicator:
A marker is plotted on the zero line to indicate the squeeze state:
Yellow: Squeeze On (compression active).
Blue: Squeeze Off (compression ended, movement expected).
Gray: No Squeeze.
Information Table
A table is displayed in the top-right corner of the chart, showing closing prices for different timeframes (e.g., 1 minute, 5 minutes, 1 hour, etc.). Each timeframe is color-coded.
Alerts
LaRSI Alerts:
Crosses above 20: Exiting oversold condition (buy signal).
Crosses below 80: Exiting overbought condition (sell signal).
Squeeze Alerts:
When the squeeze ends: Indicates a potential price move.
When the squeeze starts: Indicates volatility is decreasing.
Summary
This indicator is a powerful tool for determining market trends, momentum, and squeeze conditions. It helps users identify periods when the market is likely to move or remain stagnant, providing alerts based on these analyses to support trading strategies.
Social SentimentThe Social Sentiment Indicator aggregates social sentiment data from Telegram and LunarCrush , normalizing and smoothing the data to create an intuitive, adaptive sentiment signal. By comparing positive and negative sentiment from Telegram with LunarCrush's sentiment percentages, this indicator provides a visual representation of aggregated market sentiment.
This script provides context for market sentiment, helping traders understand crowd psychology and its potential impact on price action. It excels at identifying moments of extreme optimism or pessimism, which can act as confirmations or warnings in a broader trading strategy.
This tool provides context but lacks direct buy/sell signals. Works best in trending or volatile markets but should be combined with other indicators for a complete trading strategy.
Smoothed Renko OscillatorSMOOTHED RENKO OSCILLATOR
Technical indicator combining Renko charting with oscillator mechanics for price momentum analysis. Brick size determines sensitivity of price movement detection, with adjustable smoothing for noise reduction.
Parameters include brick size (default 10), smoothing period (5), oscillator period (14), and smoothing type selection (EMA/SMA/WMA). Values above zero indicate bullish momentum, below zero bearish momentum, with ±40-50 marking potential reversal zones. Zero-line crossovers suggest trend changes.
Larger brick settings reduce noise but delay signals, while smaller bricks increase sensitivity. EMA smoothing provides faster response, while SMA/WMA offer more stable readings. The indicator supports trend confirmation, momentum measurement, divergence analysis, and entry/exit timing.
Best used in conjunction with price action and additional indicators for comprehensive market analysis. Particularly effective in trending markets for momentum confirmation and potential reversal identification.
Delta OscillatorAn advanced technical indicator that helps traders identify buying and selling pressure in the market by analyzing volume-based price movements.
Features
Real-time calculation of buying and selling volume
Cumulative delta conversion into oscillator format (-50 to +50 range)
Color-coded visualization (green for buying pressure, red for selling pressure)
Customizable period length for calculations
How It Works
The indicator:
Calculates buying/selling volume based on price direction
Accumulates delta over time
Normalizes values into oscillator format
Displays results as a colored line chart
Trading Applications
Identify potential trend reversals
Measure buying/selling momentum
Confirm price action signals
Spot divergences with price
Installation
Copy the provided Pine Script code
Open TradingView Chart → Pine Editor
Paste the code and click "Add to Chart"
Settings
Period: Adjustable timeframe for calculations (default: 14)
Visualization: Line width and colors can be customized
Heiken Ashi MTF Monitor - Better Formula - EMA, AMA, KAFA, T3Heiken Ashi MTF Monitor - Better Formula - EMA, AMA, KAFA, T3
This indicator is based on the works of Loxx & Smart_Money-Trader, without their initial codes, none of this will be possible.
This Pine Script indicator provides a multi-timeframe (MTF) analysis of Heiken Ashi trends, designed to enhance the traditional Heiken Ashi method with advanced smoothing techniques such as the Exponential Moving Average (EMA), Adaptive Moving Average (AMA), Kaufman’s Adaptive Moving Average (KAMA), and the Triple Exponential Moving Average (T3). The indicator offers a flexible approach to identify bullish, bearish, and neutral trends across six customizable timeframes and various Heiken Ashi calculation methods.
Key Features:
Multi-Timeframe (MTF) Support: The indicator allows you to monitor trends across six timeframes (e.g., 2-hour, 4-hour, daily, weekly, monthly), giving a holistic view of market conditions at different scales.
Heiken Ashi Calculation Methods: Choose between traditional Heiken Ashi or an enhanced "Better HA" method for more refined trend analysis.
Smoothing Options: Apply different smoothing techniques, including EMA, T3, KAMA, or AMA, to the Heiken Ashi values for smoother, more reliable trend signals.
Non-Repaint Option: This feature ensures that the values do not repaint after the bar closes, providing a more reliable historical view.
Customizable Plotting: The indicator offers full customization of which timeframes to display and whether to show labels for each timeframe.
Inputs and Settings:
Timeframe Inputs:
Users can set up to six different timeframes, ranging from intraday (2-hour, 4-hour) to higher timeframes (daily, weekly, monthly).
Timeframes can be enabled or disabled individually for each analysis.
Label Visibility:
Labels indicating the trend direction (bullish, bearish, neutral) can be shown for each timeframe. This helps with clarity when monitoring multiple timeframes simultaneously.
Smoothing Options:
EMA: Exponential Moving Average for standard smoothing.
AMA: Adaptive Moving Average, which adapts its smoothing based on market volatility.
KAMA: Kaufman’s Adaptive Moving Average, which adjusts its sensitivity to price fluctuations.
T3: Triple Exponential Moving Average, providing a smoother and more responsive moving average.
None: No smoothing applied (for raw Heiken Ashi calculations).
Non-Repaint Setting:
Enabling this ensures the trend values do not change after the bar closes, offering a stable historical view of trends.
Core Functions:
Heiken Ashi Calculations:
Traditional HA: The classic Heiken Ashi calculation is used here, where each bar's open, close, high, and low are computed based on the average price of the previous bar.
Better HA: A refined calculation method, where the raw Heiken Ashi close is adjusted by considering the price range. This smoother value is then optionally processed through a moving average function for further smoothing.
Heiken Ashi Trend Calculation:
Based on the selected Heiken Ashi method (Traditional or Better HA), the indicator checks whether the trend is bullish (upward movement), bearish (downward movement), or neutral (sideways movement).
For the "Better HA" method, the trend determination uses the difference between the smoothed Heiken Ashi close and open.
Moving Averages:
The moving averages applied to the Heiken Ashi values are configurable:
EMA: Standard smoothing with an exponential weighting.
T3: A triple exponential smoothing technique that provides a smoother moving average.
KAMA: An adaptive smoothing technique that adjusts to market noise.
AMA: An adaptive moving average that reacts to market volatility, making it more flexible.
None: For raw, unsmoothed Heiken Ashi data.
Trend Detection:
The indicator evaluates the direction of the trend for each timeframe and assigns a color-coded value (bearish, bullish, or neutral).
The trend values are plotted as circles, and their color reflects the detected trend: red for bearish, green for bullish, and white for neutral.
Multi-Timeframe (MTF) Support:
The indicator can be used to analyze up to six different timeframes simultaneously.
The trend for each timeframe is calculated and displayed as circles on the chart.
Users can enable or disable individual timeframes, allowing for a customizable view based on which timeframes they are interested in monitoring.
Plotting:
The indicator plots circles at specific levels based on the detected trend (Level 1 for the 2-hour timeframe, Level 2 for the 4-hour timeframe, etc.). The size and color of these circles represent the trend direction.
These plotted values provide a quick visual reference for trend direction across multiple timeframes.
Usage:
Trend Confirmation: By monitoring trends across multiple timeframes, traders can use this indicator to confirm trends and avoid false signals.
Customizable Timeframe Analysis: Traders can focus on shorter timeframes for intraday trades or look at longer timeframes for a broader market perspective.
Smoothing for Clarity: By applying various moving average techniques, traders can reduce noise and get a clearer view of the trend.
Non-Repainting: The non-repaint option ensures the indicator values remain consistent even after the bar closes, providing more reliable signals for backtesting or live trading.
This Heiken Ashi MTF Monitor indicator with better formulas and smoothing options is designed for traders who want to analyze trends across multiple timeframes while benefiting from advanced moving averages and more refined Heiken Ashi calculations. The customizable settings for smoothing, timeframe selection, and label visibility allow users to tailor the indicator to their specific needs and trading style.
Moving Average with Buy/Sell SignalsBINANCE:BTCUSD
Pine Script Brief: "44 Moving Average with Buy/Sell Signals"
This Pine Script is designed to generate buy and sell signals based on the interaction of the price with the 44-period Simple Moving Average (SMA). It also considers the closing behavior of the last five candles to further refine the conditions for generating signals. The script is intended for use in technical analysis for trading strategies on platforms like TradingView.
Features:
44-Period Simple Moving Average (SMA):
The script calculates and plots the 44-period SMA of the closing price on the chart, providing a trend-following indicator.
The SMA is used as a key level to determine when price action is "touching" or interacting with the moving average.
Buy and Sell Signal Logic:
Buy Signal:
The candle is green (close > open).
The candle's high and low are around the 44 SMA, indicating the candle is "touching" or near the moving average.
At least 2 of the last 5 candles must have closed above the 44 SMA.
The 44 SMA is positioned below the midpoint of the current candle.
Sell Signal:
The candle is red (close < open).
The candle's high and low are around the 44 SMA.
At least 2 of the last 5 candles must have closed below the 44 SMA.
The 44 SMA is positioned above the midpoint of the current candle.
Label Plotting:
The script uses the plotSignal function to plot buy and sell labels directly on the chart. The labels are plotted at the low of a green candle (for buy signals) and the high of a red candle (for sell signals).
Labels are color-coded for quick identification: green for buy and red for sell.
EMA for Smoothing (Optional):
An optional Exponential Moving Average (EMA) is plotted for additional trend smoothing, allowing users to visualize another moving average for possible trend-following strategies.
The length of the EMA is customizable, and it is plotted on the chart alongside the 44 SMA.
Alert Conditions:
Alerts can be set up for both buy and sell signals, notifying the user when these conditions are met. The alerts are triggered whenever the script detects a valid buy or sell signal.
Customizable Inputs:
The script allows customization of the following:
Smoothing Length: For the optional EMA line.
Tolerance: For adjusting the proximity check (candle touching the 44 SMA).
Styling: The color and text of the buy and sell labels can be customized.
Usage:
This script can be used by traders who want to identify possible entry and exit points based on price interaction with the 44-period moving average, combined with the behavior of previous candles. It is suitable for trend-following strategies and can be used in conjunction with other indicators to refine trading decisions.
Key Benefits:
Provides visual signals (buy/sell) directly on the chart.
Considers both immediate price action and historical trends (previous candles).
Offers customization for moving averages and labels.
Alerts can be set for automated notifications.
This Pine Script helps traders make informed decisions by combining the reliability of moving averages with price action and historical candle behavior, enhancing trading strategies based on trend-following principles.
Asset MaxGain MinLoss Tracker [CHE]Asset MaxGain MinLoss Tracker – Your Tool to Discover the Best Trading Opportunities
Introduction
Hello dear traders,
Today, I'd like to introduce you to a fantastic tool: the Asset MaxGain MinLoss Tracker . This indicator is designed to help you identify the best trading opportunities in the market by analyzing the maximum gain and adjusted maximum loss potentials of various assets.
Why Use This Indicator?
1. Time-Saving Analysis
Instead of spending hours sifting through different charts, this indicator provides you with key metrics for up to 10 assets at a glance.
2. Compare Multiple Assets Simultaneously
Monitor and compare multiple assets to discover which ones offer the highest profit potential and the lowest risk of loss.
3. Customizable Settings
Adjust the observation period and select the assets you want to analyze according to your trading strategy.
4. Clear Visual Representation
Data is presented in an easy-to-read table directly on your chart, highlighting assets with the highest maximum gain and the lowest adjusted maximum loss.
How to Use It in Everyday Trading
Step 1: Setting Up the Indicator
Select Your Assets: Choose up to 10 assets you wish to track. These can be cryptocurrencies, stocks, forex pairs, etc.
Configure the Trading Period Length: Set the number of bars (candles) over which you want to calculate the maximum gain and adjusted maximum loss. This allows you to tailor the analysis to your preferred time frame, whether it's short-term trading or long-term investing.
Step 2: Interpreting the Results
Maximum Gain (%): This value shows the potential upside of each asset over the selected period. A higher percentage indicates a greater potential for profit if the asset's price moves upward.
Adjusted Maximum Loss (%): This figure represents the potential downside risk, adjusted to give a more accurate reflection of loss potential. A lower percentage means less risk of significant loss.
Category Highlighting: Assets are categorized based on their performance:
High Gain & Low Loss: Assets that have both the highest max gain and the lowest adjusted max loss.
High Gain: Assets with the highest max gain.
Low Loss: Assets with the lowest adjusted max loss.
Step 3: Making Trading Decisions
Identify Opportunities: Focus on assets categorized as High Gain & Low Loss for the most favorable risk-to-reward scenarios.
Risk Management: Use the adjusted maximum loss to assess and mitigate potential risks associated with each asset.
Portfolio Diversification: Allocate your investments across assets with varying levels of gain and loss potentials to diversify your portfolio effectively.
Practical Example
Imagine you're monitoring the following assets:
Asset 1: BTCUSD
Asset 2: ETHUSD
Asset 3: ADAUSD
Asset 4: XRPUSD
After applying the indicator:
BTCUSD shows a high maximum gain but also a high adjusted maximum loss.
ETHUSD has both a high maximum gain and a low adjusted maximum loss, categorizing it as High Gain & Low Loss.
ADAUSD indicates a low maximum gain but the lowest adjusted maximum loss.
XRPUSD reflects moderate values in both categories.
Decision Making:
Primary Focus: ETHUSD may be your top choice due to its high reward and lower risk.
Risk-Averse Option: ADAUSD could be considered if you prioritize minimizing losses.
Balanced Approach: Diversify by investing in both ETHUSD and ADAUSD.
Understanding the Core Functionality
While you don't need to delve deep into the code to use the indicator effectively, understanding its core function can enhance your confidence in the tool.
The Main Function: Calculating Max Gain and Adjusted Max Loss
The heart of the indicator is a function that calculates two critical metrics for each asset:
Maximum Gain (sym_MaxGain):
Purpose: Measures the highest potential profit over the selected period.
How It Works: It finds the lowest price (sym_minlow) within the period and calculates the percentage increase to the current high price. This shows how much you could have gained if you bought at the lowest point.
Adjusted Maximum Loss (sym_AdjustedMaxLoss):
Purpose: Provides an adjusted measure of the potential loss, giving a more realistic risk assessment.
How It Works: It identifies the highest price (sym_maxhigh) within the period and calculates the percentage decrease to the current low price. This value is adjusted to account for the diminishing impact as losses approach 100%.
Simplified Explanation of the Function
Data Retrieval: For each asset (sym), the function retrieves the high and low prices over the specified timeframe.
Calculations:
Find Highest and Lowest Prices: Determines sym_maxhigh and sym_minlow within the tracking period.
Compute Max Gain: Calculates the potential gain from sym_minlow to the current high.
Compute Max Loss: Calculates the potential loss from sym_maxhigh to the current low.
Adjust Max Loss: Adjusts the max loss calculation to prevent distortion as losses near 100%.
Output: Returns both sym_MaxGain and sym_AdjustedMaxLoss for further analysis.
Benefits of Understanding the Function
Transparency: Knowing how these values are calculated can increase your trust in the indicator's outputs.
Customization: If you're familiar with coding, you might tailor the function to suit specific trading strategies.
Enhanced Analysis: Understanding the underlying calculations allows you to interpret the results more effectively, aiding in better decision-making.
Conclusion
The Asset MaxGain MinLoss Tracker is a powerful tool that can significantly enhance your trading efficiency and effectiveness by:
Providing Quick Insights: Save time by getting immediate access to essential performance metrics of multiple assets.
Assisting in Risk Management: Use the adjusted maximum loss to understand and mitigate potential risks.
Supporting Strategic Decisions: Identify assets with the best risk-to-reward ratios to optimize your trading strategy.
Take advantage of this indicator to elevate your trading game and make more informed decisions with confidence.
Thank you for your time, and happy trading!
Disclaimer:
The content provided, including all code and materials, is strictly for educational and informational purposes only. It is not intended as, and should not be interpreted as, financial advice, a recommendation to buy or sell any financial instrument, or an offer of any financial product or service. All strategies, tools, and examples discussed are provided for illustrative purposes to demonstrate coding techniques and the functionality of Pine Script within a trading context.
Any results from strategies or tools provided are hypothetical, and past performance is not indicative of future results. Trading and investing involve high risk, including the potential loss of principal, and may not be suitable for all individuals. Before making any trading decisions, please consult with a qualified financial professional to understand the risks involved.
By using this script, you acknowledge and agree that any trading decisions are made solely at your discretion and risk.
This indicator is inspired by the "Max Gain" indicator. A special thanks to Skipper86 for his relentless effort, creativity, and contributions to the TradingView community, which served as a foundation for this work.
Portfolio [Afnan]🚀 Portfolio - Advanced Portfolio Management Indicator 📊
A game-changing portfolio management tool designed to help traders stay on top of their positions and manage risk efficiently. This indicator combines detailed tracking, real-time analytics, and visual clarity to ensure traders are well-equipped for the dynamic world of financial markets.
📈 Key Features 💡
Track up to 14 positions with ease
Real-time Profit & Loss (P&L) updates and risk metrics
Visual representation of entry, stop-loss (SL), and target levels
Alerts for stop-loss breaches and target achievements
Comprehensive portfolio summaries for quick analysis
Customizable options to suit individual trading styles
🔍 Main Components ⚙️
📊 1. Position Tracking
Detailed position data: entry, stop-loss, target levels, and more
Real-time risk-reward ratios
Insights into position size and exposure percentages
Continuous updates on P&L in real-time
📉 2. Visual Indicators
Clear visual markers for entry, SL, and target prices
Price labels with detailed percentage changes
Indicators that show the current position's market status
💼 3. Portfolio Summary
Aggregate account values and exposure
Summarized P&L metrics across all positions
Risk management insights for better decision-making
Daily performance tracking to evaluate strategies
⚠️ 4. Alert System
Instant notifications for stop-loss breaches
Alerts when target prices are hit
Alerts operate for the current chart symbol
⚡ Customization Options 🎨
Show or hide specific data columns
Adjust the table's position and size for better visibility
Personalize color schemes and text styles
Switch between full portfolio view and single symbol focus
📱 How to Use 📝
Input your positions in the indicator's settings
Enable or disable specific positions dynamically
Customize display preferences to your liking
Set up alerts for proactive risk management
Monitor all your trading activities in one comprehensive dashboard
📌 Important Notes ℹ️
Compatible with any trading symbol
Updates seamlessly during market hours
Alerts are specific to the currently active chart symbol
Maximum capacity: 14 simultaneous positions
Created by: @AfnanTAjuddin
⚠️ Disclaimer ⚠️
This indicator is a tool for informational purposes only. Ensure all calculations are verified and consult a financial professional before making investment decisions.
🎯 "Stay disciplined, trade smart, and let data guide your decisions." 📊
Risk-Reward Labels Minimal with OffsetIndicator Explanation
The indicator “Risk-Reward Labels Minimal with Offset” is designed to assist traders in managing risk and potential rewards. It displays the Stop-Loss (SL) and Take-Profit (TP) levels for both long and short positions based on identified support and resistance levels.
Key Features:
1. Risk-Reward Ratio: Traders can adjust the risk-reward ratio to define the relationship between potential losses and potential gains (e.g., 1:1 or 1:2).
2. Risk Distance: The distance (in pips) is set to determine where to place the SL and TP levels.
3. Labels with Offset: SL and TP labels can be shifted by an offset (bars), allowing for better visualization.
4. Support and Resistance Levels: The indicator dynamically calculates support and resistance. When a support or resistance level is broken, the corresponding labels are deleted.
5. Display in Range Markets: If the market is ranging or lacks a clear trend, both long and short labels are displayed. This allows traders to identify potential entry opportunities in both directions, even when the market is not clearly trending.
6. Deletion Logic: If the price falls below support or rises above resistance, the relevant SL and TP labels are removed. However, in a Range situation, the possibility of seeing both long and short labels remains, increasing flexibility and helping to avoid false signals.
Automatic Fibonacci Levels with EMAAutomatic Fibonacci Levels with EMA
Description:
This script automatically calculates and displays Fibonacci retracement levels based on the highest and lowest prices over a dynamic lookback period. The Fibonacci levels are recalculated on every bar to adapt to price changes, providing an ongoing analysis of key support and resistance areas.
The Fibonacci levels are dynamically colored to reflect the trend direction, determined by the position of the price relative to the Exponential Moving Average (EMA). When the market is in an uptrend (price above EMA), Fibonacci levels are displayed in green, and in a downtrend (price below EMA), they are shown in red. This color coding helps traders quickly identify the current market direction.
Key Features:
Dynamic Fibonacci Levels: Automatically adjusts Fibonacci retracement levels based on recent price action, recalculated with each new bar.
EMA Trend Confirmation: The trend is confirmed by the position of the price relative to the 20-period EMA. Fibonacci levels are color-coded to reflect this trend.
Customizable Lookback Period: Adjust the base lookback period (default 50) and scale it according to your preferred timeframe for more or less sensitivity to recent price action.
Flexible Fibonacci Duration: The Fibonacci levels remain on the chart for a customizable duration (default 2 bars), allowing for visual clarity while adapting to new price action.
Timeframe Scaling: The script automatically adjusts the lookback period based on a scaling factor, making it suitable for different timeframes.
How to Use:
Use the Fibonacci levels to identify potential support and resistance zones based on the market's current price range.
Combine the trend color coding with your own strategy to enhance decision-making, whether for long or short entries.
Adjust the Lookback Period and Fibonacci Duration based on your trading style and timeframe preferences.
This script provides an automatic and customizable way to visualize Fibonacci retracements in a dynamic manner, helping traders make informed decisions based on trend direction and key price levels.
Note: As with any trading tool, always use proper risk management and test the script before using it in live trading.
Order BlockOverview:
The Order Block Indicator is designed to help traders identify key bullish and bearish order blocks on their charts. Order blocks are significant price zones where institutional activity may have occurred, often leading to strong reversals or continuations. This indicator visually highlights these blocks and provides alerts for potential trade opportunities.
Key Features
Bullish Order Blocks (Yellow):
Identifies bullish structures where price signals a potential upward movement.
Highlighted in bright yellow to stand out on your chart.
Bearish Order Blocks (Pink):
Detects bearish structures where price suggests a possible downward movement.
Highlighted in pink for easy identification.
Alerts for Order Blocks:
Sends a notification whenever a bullish or bearish order block is detected.
Keeps you informed of key market zones even when you’re away from the screen.
How It Works
Bullish Order Block Criteria
The last candle (close ) is bullish (close > open).
The second last candle (close ) is bearish (close < open).
The bullish candle’s close is above the high of the bearish candle.
The bearish candle’s close is above the low of the third last candle.
The bearish candle’s low is below the low of the third last candle.
The current candle’s low is above the bearish candle’s high.
These conditions combine to identify strong bullish zones.
Bearish Order Block Criteria
The last candle (close ) is bearish (close < open).
The second last candle (close ) is bullish (close > open).
The bearish candle’s close is below the low of the bullish candle.
The third last candle’s high is above the bullish candle’s close.
The bullish candle’s high is above the high of the third last candle.
The current candle’s high is below the bullish candle’s low.
This logic highlights potential bearish zones.
How to Use It
Add the Indicator to Your Chart:
Use it on any timeframe to spot bullish or bearish order blocks.
Visual Assistance:
Yellow bars indicate bullish order blocks.
Pink bars represent bearish order blocks.
Set Alerts:
Configure alerts to notify you when a bullish or bearish order block appears.
Customization
Colors: Easily change the colors for bullish and bearish order blocks.
Alerts: Adjust alert messages to suit your trading preferences.
Disclaimer:
This indicator is a technical analysis tool and should be used alongside other strategies and market analysis. It does not guarantee profits and carries trading risks. Always trade responsibly.
London/NY Sessions [jpkxyz]London/NY Sessions Indicator Guide
This indicator tracks the forex market's most active trading periods: London session, New York session, and their overlap.
This characteristics of the London and New York trading sessions are well documented and many traders use them as a key element in their trading strategies. It is most relevant in forex trading, however it is to an extend also applicable in cryptocurrencies.
London Session (08:00-16:00 UTC)
Most active trading session (35% of daily forex volume)
Highest trading volume and liquidity
Major price movements and trend development
Significant institutional participation
New York Session (13:00-20:00 UTC)
Second most active trading period
High institutional order flow
Major US economic releases
Significant impact on USD pairs
London/New York Overlap (13:00-16:00 UTC)
The most active period in forex markets:
Maximum market liquidity
Highest daily trading volume
Strong price movements
Tightest spreads
Peak institutional activity
This indicator helps traders:
Visualize key trading sessions
Track session highs and lows
Monitor overlap dynamics
Identify potential support/resistance levels (session highs/lows)
Custom ATR with Paranormal Bar FilterCustom ATR with Paranormal Bar Filter
Description:
This indicator calculates a custom ATR (Average True Range) by filtering out bars with unusually large or small price ranges. It helps provide a more accurate measure of market volatility by ignoring outliers.
How it works:
True Range Calculation:
The price range for each bar is calculated.
Bars with ranges much larger or smaller than typical are excluded.
Filtered ATR:
The ATR is calculated using only the bars that pass the filter.
Current Bar Progress:
Measures how much the current bar has moved compared to the filtered ATR, based on the difference between its opening and closing prices.
Display:
A line represents the filtered ATR.
A table shows the filtered ATR, the current bar's range, and its progress relative to the ATR.
Input Settings:
ATR Period: Number of bars used to calculate the ATR.
Filter Window: Number of recent bars used to determine the typical range.
Filter Threshold: Sensitivity of the filter. A higher value allows more bars to pass.
How to Use:
Monitor Volatility:
Use the filtered ATR to understand market volatility while ignoring unusual price movements.
Track Current Bar Progress:
See how much of the ATR the current bar has completed.
Adjust Filter Settings:
Fine-tune the filter to match your trading timeframe and strategy.
This indicator is designed for traders who want to track market volatility without being misled by extreme outlier bars.
BTC InsightThis script is a comprehensive tool for analyzing Bitcoin's daily price range, trend predictions, and significant volume-based order block levels. It combines multiple technical analysis concepts, including exponential moving averages (EMAs), logarithmic calculations, and custom indicators for advanced forecasting and visualization.
Key Features and Technical Details
1. Exponential Moving Averages (EMAs)
The script calculates two smoothed EMAs:
EMA1 and EMA2 are derived from the logarithmic price of Bitcoin (log(close)).
The smoothing periods and multipliers are user-configurable through inputs:
Smoothed EMA1 Period (default: 728)
Smoothed EMA2 Period (default: 728)
Initial EMA Multipliers (default: 1.0 for EMA1, 5.0 for EMA2)
A time decay factor is applied to the multipliers to adjust sensitivity over time, making the EMAs adaptive to market dynamics.
2. Logarithmic Domain Calculations
The script uses logarithmic transformations to enhance accuracy when dealing with large price changes.
Adjustments to EMAs are made in the logarithmic domain and converted back to the price domain for plotting.
3. EMA Forecasting
The script performs a linear regression analysis over a specified period (728 bars by default) to estimate future price trends for both EMAs.
Slope Adjustments:
RSI (Relative Strength Index) is incorporated to modify the forecast slope dynamically:
RSI > 70: Bearish adjustment (-0.5)
RSI < 30: Bullish adjustment (+0.5)
Forecasts are plotted as dashed lines, projecting future values of EMA1 (green) and EMA2 (red).
4. Order Block Detection
Detects order block levels based on high volume spikes relative to the average volume over a lookback period (default: 100 bars).
A volume multiplier (default: 1.5x) is applied to identify significant volume activity.
Two types of order blocks are identified:
Below EMA1: A price zone where significant buying occurred below EMA1.
Above EMA2: A price zone where significant selling occurred above EMA2.
Order blocks are visualized as shaded rectangles:
Green boxes represent order blocks below EMA1.
Red boxes represent order blocks above EMA2.
5. Customization Inputs
The script allows fine-tuning via the following parameters:
EMA Settings: Periods, multipliers, and time factors for both EMAs.
Volume Analysis Settings: Lookback period and volume multiplier for order block detection.
Order Block Box Settings: Height of the range as a percentage of the detected price.
6. Visualization
EMAs: Two smoothed exponential moving averages are plotted with configurable offsets.
Forecast Lines: Dashed lines project future EMA trends based on regression analysis.
Order Block Boxes: Highlight areas of high volume below EMA1 and above EMA2, indicating potential support or resistance zones.
How It Works in Practice
EMAs and Trend Analysis:
The EMAs represent long-term market trends, adjusted dynamically using custom multipliers and time decay.
The script forecasts the EMAs' future trajectories to anticipate potential price movements.
Order Blocks:
High-volume zones indicate areas where significant market activity occurred, providing insights into potential price reversal points or continuation zones.
RSI Integration:
RSI-based slope adjustment fine-tunes the EMA forecast, adding an extra layer of dynamic market context.
Comprehensive View:
By combining trend forecasts with volume-based zones, the script delivers a robust analysis tool for identifying potential entry/exit points, support/resistance levels, and long-term trend predictions.
Prometheus Markov ChainThe Prometheus Markov Chain Indicator is a custom-built tool designed to predict potential future price movements using a Markov Chain approach. A Markov Chain is a statistical model that assumes the probability of moving to a future state depends solely on the current state. In this indicator, states represent price movement classifications—bullish, bearish, or neutral—and are determined based on historical price changes (percentage returns). The indicator builds a transition matrix to calculate probabilities of transitioning from one state to another, enabling traders to identify patterns and forecast likely price actions.
Core Functionality and Transition Matrix
The transition matrix is the backbone of the Markov Chain. It captures the frequency of transitions between states in the historical price data and normalizes these counts into probabilities. For example, if the price was in a bearish state and transitioned to a bullish state 3 out of 10 times, the probability of transitioning from bearish to bullish would be 0.3. The matrix is created dynamically using the stateFunc function to classify states, which can use either dynamic thresholds (highest and lowest returns over a lookback period) or a user-defined percent return threshold. Below is the snippet that updates the transition matrix:
transitionMatrix = matrix.new(dimension, dimension, 0.0)
for i = 0 to array.size(vec) - 2
fromState = array.get(vec, i)
toState = array.get(vec, i + 1)
transitionMatrix.set(fromState, toState, transitionMatrix.get(fromState, toState) + 1)
for i = 0 to dimension - 1
rowSum = 0.0
for j = 0 to dimension - 1
rowSum += transitionMatrix.get(i, j)
for j = 0 to dimension - 1
prob = transitionMatrix.get(i, j) / rowSum
transitionMatrix.set(i, j, prob)
This snippet iterates through historical price movements, counts state transitions, and then normalizes each row of the matrix so that the sum of probabilities for all possible transitions from a given state equals 1.
How the Indicator Predicts Future States
After constructing the transition matrix, the indicator calculates the current state of the price based on the latest percentage return and then uses the matrix to compute probabilities for transitioning to other states. The state with the highest probability is predicted as the next state, which is displayed on the chart using color-coded labels: green for bullish and red for bearish. The following snippet demonstrates how the current state and predictions are calculated:
current_chng = (close - close ) / close
var int current_state = na
if not use_custom_thresh
highest_chng = ta.highest(current_chng, int(size) * 2)
lowest_chng = ta.lowest(current_chng, int(size) * 2)
current_state := stateFunc(current_chng, highest_chng, lowest_chng)
else
current_state := stateFunc(current_chng, custom_thresh)
predicted_probs = array.new(dimension, 0.0)
for j = 0 to dimension - 1
array.set(predicted_probs, j, transitionMatrix.get(current_state, j))
The indicator evaluates which state has the highest transition probability (highest_prob) and places corresponding labels on the chart. For example, if the next state is predicted to be bullish, a green "Bullish" label is placed below the current bar. This predictive functionality helps traders anticipate potential reversals or continuations in price trends based on historical behavior patterns.
Usage:
Here we see the indicator at work on $PLTR. The states predicted are bullish then bearish. In this example we then see price move in a way that verifies those predictions.
On this 4 Hour NASDAQ:AMZN chart we see predictions play out in a short trade style. States quickly move from one to another but not without giving traders a way to take advantage.
This is the perspective we aim to provide. We encourage traders to not follow indicators blindly. No indicator is 100% accurate. This one can give you a different perspective market state. We encourage any comments about desired updates or criticism!
Previous Candle AverageDescription:
The Previous Candle Average indicator is a powerful tool designed to provide traders with insights into market momentum by visualizing the relationship between the current and previous open levels for a customizable timeframe. This versatile indicator allows you to select from various timeframes, including 1 Month, 1 Week, 1 Day, 8 Hours, 4 Hours, and 1 Hour, making it suitable for different trading strategies, whether you're a swing trader, day trader, or scalper.
The indicator plots the Current Open and Previous Open levels for the selected timeframe and calculates the average value between them. By displaying these critical levels, traders can quickly gauge the current market dynamics relative to the previous period, making it easier to identify support, resistance, or trend continuation.
Key Features:
Custom Timeframe Selection: Easily select the desired timeframe from a variety of options (1M, 1W, 1D, 8H, 4H, 1H) to align with your trading strategy.
Current and Previous Open Levels: The indicator plots both the Current Open and Previous Open levels for the chosen timeframe, providing clear visual guidance on where the market is opening relative to the previous period.
Open Fill with Adjustable Transparency: The area between the Current Open and Previous Open levels is filled with color to represent the relationship between the two. The fill color changes based on whether the Current Open is above or below the Previous Open, with a default 20% opacity for better clarity without overwhelming the chart.
Average Line: The indicator also plots the average value between the Current Open and Previous Open levels, painted by default in a solid white color with a line thickness of 2. This average helps identify potential key levels where the price might react.
Dynamic Coloring: The fill color changes dynamically based on whether the Current Open is higher or lower than the Previous Open, using green to indicate bullish behavior and red for bearish behavior.
How to Use:
The Previous Candle Average indicator can help traders identify the momentum of the market by visually comparing the relationship between consecutive open levels.
Use the Average Line as a reference for potential support or resistance, especially when the market opens near this average.
The Open Fill color can quickly indicate a shift in market sentiment. A green fill suggests that the market is opening stronger than the previous period, while a red fill indicates weakness.
Best Practices:
Combine this indicator with other technical analysis tools, such as trend lines, moving averages, or volume analysis, to confirm potential trading opportunities.
The custom timeframe feature is particularly useful for multi-timeframe analysis. For instance, you can monitor weekly open levels while trading on an hourly chart.
Note: The indicator uses real-time open data and is updated accordingly, ensuring there is no delay or repainting of historical values.
Ideal For:
Traders who want a clear visual representation of market open levels relative to previous periods.
Those who want to identify potential shifts in momentum by comparing open levels across different timeframes.
Traders seeking to add an additional layer of analysis to their existing strategy by incorporating key opening levels and their averages.
Crypto Arbitrage Scanner [CryptoSea]Crypto Arbitrage Scanner
The Crypto Arbitrage Scanner is an advanced tool designed to help traders identify arbitrage opportunities across multiple cryptocurrency exchanges. With the ability to compare prices, volumes, and differences in price, this indicator is a must-have for any trader seeking to exploit cross-exchange inefficiencies in real time.
Key Features
Multi-Exchange Price and Volume Comparison: Tracks data from multiple major cryptocurrency exchanges, including BINANCE, COINBASE, KUCOIN, and others, allowing traders to easily compare prices and volume across platforms.
Customizable Difference Metrics: Allows users to toggle between displaying price differences in percentages or absolute dollar values, depending on the preferred metric for arbitrage analysis.
Sorting and Filtering Options: Includes user-defined sorting options to order the data by Price, Volume, or Difference, helping to prioritize potential arbitrage opportunities based on the trader's chosen criteria.
Difference and Volume Thresholds: Users can specify the minimum volume and price difference thresholds, ensuring that only significant arbitrage opportunities are highlighted.
Real-Time Alerts: Built-in alert conditions notify users when arbitrage opportunities exceed their defined price difference thresholds, helping traders respond instantly to market movements.
The Crypto Arb Scanner displays a table of prices, volumes, and price differences across selected exchanges. Each exchange is listed along with the current close price, volume, and the difference in price compared to the average price across all exchanges. Highlighting is used to indicate significant differences that may present arbitrage opportunities.
In the example below, we can see a highlighted opportunity in green showing that the price is below the user inputed thresold.
How it Works
Data Collection: Gathers real-time volume and price data from various exchanges using a streamlined process, allowing for a detailed comparison.
Average Price Calculation: Computes the average price across all valid exchanges to identify where price discrepancies occur, providing a clear picture of arbitrage potential.
Sorting Mechanism: Utilizes custom sorting based on user preferences, making it easy to quickly analyze and identify key opportunities.
Dynamic Highlighting and Alerts: Price differences that exceed user-defined thresholds are highlighted, and alerts can be triggered for these arbitrage opportunities, allowing for a timely response.
Application
Arbitrage Trading: The Crypto Arb Scanner is ideal for traders looking to exploit price differences across exchanges, enabling efficient arbitrage opportunities.
Market Efficiency Analysis: Offers insights into the consistency of prices across exchanges, which can help gauge the efficiency and liquidity of the markets being traded.
Customizable Alerts: Set alerts based on price differences or volume, allowing traders to stay informed about changes without constantly monitoring the markets.
The Crypto Arbitrage Scanner is a powerful addition to any trader's toolkit, offering comprehensive features to detect arbitrage opportunities with confidence. With real-time monitoring, customizable metrics, and a user-friendly interface, this tool allows traders to make informed decisions and capitalize on inefficiencies across exchanges.
Weekly Stacked Daily Changes [LuxAlgo]The Weekly Stacked Daily Changes tool allows traders to compare daily net price changes for each day of the week, stacked by week. It provides a very convenient way to compare daily and weekly volatility at the same time.
🔶 USAGE
The tool requires no configuration and works perfectly out of the box, displaying the net price change for each day of the week as stacked boxes of the appropriate size.
Traders can adjust the width of the columns and the spacing between days and weeks, options to change the color and disable the months and new month lines are also available.
🔹 Bottom Stack Bias
This feature allows traders to compare weekly volatility in two different ways.
With this feature disabled, all weeks use zero as the bottom of the stack, so traders can see at a glance weeks with more volatility and weeks with less volatility.
Enabling this feature will cause the tool to display the stacks with the weekly net price change as the bottom, so if a stack starts below the zero line it means that week has a negative net return, and if it starts above the zero line it means that week has a positive net return.
🔶 SETTINGS
Width: Select the fixed width for each column.
Offset: Choose the fixed width between each column.
Spacing: Select the distance between each day within each column.
🔹 Style
Bottom Stack Bias: Use weekly net price change as the bottom of the stack.
Bullish Change: Color for days with positive net price change
Bearish Change: Color for days with negative net price change
Show Months: Under each week stack, display the month
Show Months Delimiter: Display a line indicating the start of a new month
Drummond Geometry - Pldot and EnvelopeThis Pine Script will:
1.Calculate and display the PL Dot (Price Level Dot), a moving average that reflects short-term market trends.
2.Plot the Envelope Top and Bottom lines based on averages of previous highs and lows, which represent key areas of resistance and support.
Drummond Geometry Overview
Drummond Geometry is a method of market analysis focused on:
PL Dot : Captures market energy and trend direction. It reacts to price deviations and serves as a magnet for price returns, often referred to as a "PL Dot Refresh."
Envelope Theory : Considers price movements as cycles oscillating between the Envelope Top and Bottom. Prices breaking these boundaries often indicate trends, retracements, or exhaustion.
The geometry helps traders visualize energy flows in the market and anticipate directional changes using established support and resistance zones.
Understanding PL Dot and Envelope Top/Bottom
PL Dot:
Formula: Average(Average(H, L, C) of last three bars)
Usage: Indicates short-term trends:
Trend: PL Dot slopes upward or downward.
Congestion: PL Dot moves horizontally.
Envelope Top and Bottom:
Formula:
Top: (11 H1 + 11 H2 + 11 H3) / 3
Bottom: (11 L1 + 11 L2 + 11 L3) / 3
Usage: Acts as dynamic resistance and support:
Price above the top: Indicates strong bullish momentum.
Price below the bottom: Indicates strong bearish momentum.
Advantages of Drummond Geometry
Clarity of Market Flow: Highlights the relationship between price and key levels (PL Dot, Envelope Top/Bottom).
Predictive Power: Suggests possible reversals or continuation based on energy distribution.
Adaptability: Works across multiple time frames and market types (trending, congestion).
Trading Strategy
PL Dot Trades:
Buy: When price returns to the PL Dot in an uptrend.
Sell: When price returns to the PL Dot in a downtrend.
Envelope Trades:
Reversal: Trade counter to price if it breaks and retreats from the Envelope Top/Bottom.
Continuation: Trade in the direction of price if it sustains movement beyond the Envelope Top/Bottom.
Engulfing bar detectorHere’s the updated description with the added step about using Fibonacci levels across timeframes for confirmation:
Liquidity Engulfing Bar Detector
The **Liquidity Engulfing Bar Detector** is a powerful tool designed for traders who want to identify high-probability reversal patterns in the market based on liquidity grabbing and price action. This indicator highlights **Bullish Engulfing** and **Bearish Engulfing** bars that fulfill specific liquidity criteria, helping you spot potential trend reversals and trading opportunities.
**Features**:
1. **Bullish Engulfing Bars**:
- The current candle's low dips below the previous candle's low (grabs liquidity).
- The current candle closes above the previous candle's open.
- A green label is plotted above the engulfing bar for easy identification.
2. **Bearish Engulfing Bars**:
- The current candle's high exceeds the previous candle's high (grabs liquidity).
- The current candle closes below the previous candle's open.
- A red label is plotted below the engulfing bar for clear visibility.
3. **Customizable Alerts**:
- Receive instant notifications via TradingView alerts when a bullish or bearish engulfing pattern is detected.
- Alerts are fully customizable, allowing you to stay updated without actively monitoring the chart.
4. **Visual Markers**:
- Clear and intuitive labels make it easy to spot key patterns directly on your chart.
- Fully integrated with any timeframe and market, ensuring versatility for all trading styles.
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### **How to Use**:
1. **Add the Indicator**:
- Apply the Liquidity Engulfing Bar Detector to your chart to automatically highlight bullish and bearish engulfing bars.
2. **Enable Alerts**:
- Set up TradingView alerts to get notified of potential setups in real-time.
3. **Analyze with Fibonacci Levels**:
- Draw a Fibonacci retracement tool over the identified engulfing bar, from its low to its high (for bullish patterns) or high to low (for bearish patterns).
- Use the following Fibonacci levels as key zones of interest:
- **0.0 (start)**, **0.25**, **0.5 (midpoint)**, **0.75**, and **1.0 (end)**.
- These levels often act as critical support or resistance zones for price action.
4. **Use Multi-Timeframe Confirmation**:
- Validate zones from higher timeframes using lower timeframe candles:
- **1-minute candles** for confirming zones on the **15-minute chart**.
- **5-minute candles** for confirming zones on the **1-hour chart**.
- **15-minute candles** for confirming zones on the **4-hour chart**.
- This approach ensures precision in your entry points and aligns intraday movements with higher timeframe setups.
5. **Integrate with Your Strategy**:
- Combine the indicator with other tools (e.g., trendlines, moving averages, or volume analysis) for confirmation.
- Use proper risk management to maximize your trading edge.
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### **Why Use This Indicator?**
Liquidity grabs often signal the participation of major market players, which can lead to significant reversals or continuations. By combining liquidity concepts with engulfing bar patterns and Fibonacci analysis, this indicator helps you:
- Identify key market turning points.
- Improve your entries and exits with multi-timeframe precision.
- Enhance your trading strategy with an edge rooted in smart money concepts.
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**Note**: This indicator is best used with proper risk management and alongside other technical or fundamental analyses.
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Let me know if there's anything more you'd like to include!
