Custom AO with Open Difference**Custom AO with Open Difference Indicator**
This indicator, *Custom AO with Open Difference*, is designed to help confirm trend direction based on the relationship between the daily open price and recent 4-hour open prices. It calculates the Awesome Oscillator (AO) based on the difference between the daily open price and the average of the previous six 4-hour open prices. This approach provides insight into whether the current open price is significantly diverging from recent short-term opens, which can indicate a trend shift or continuation.
### Technical Analysis and Features
1. **Trend Confirmation**: By comparing the daily open with the mean of six previous 4-hour open prices, this indicator helps identify trends. When the current daily open is below the average of recent opens, the AO value will plot as green, signaling potential upward momentum. Conversely, if the daily open is above the recent average, the histogram will plot red, suggesting possible downward momentum.
2. **Non-Repainting**: Since it relies on completed 4-hour and daily open prices, this indicator does not repaint, ensuring that all values remain fixed after the close of each period. This non-repainting feature makes it suitable for backtesting and reliable for trend confirmation without fear of historical changes.
3. **AO Mean Calculation**: The indicator calculates the average of six previous 4-hour open prices, providing a smoothed value to reduce short-term noise. This helps in identifying meaningful deviations, making the AO values a more stable basis for trend determination than using just the latest 4-hour or daily open.
4. **Histogram for Visual Clarity**: The indicator is displayed as a histogram, making it easy to identify trend changes visually. If the AO bar turns green, it’s a signal that the 4-hour average is below the daily open, suggesting an uptrend or bullish momentum. Red bars indicate that the daily open is above the recent 4-hour averages, potentially signaling a downtrend or bearish momentum.
### Practical Application
The *Custom AO with Open Difference* is a versatile tool for confirming the open price trend without needing complex oscillators or lagging indicators. Traders can use this tool to gauge the market sentiment by observing open price variations and use it as a foundation for decision-making in both short-term and daily timeframes. Its non-repainting nature adds reliability for traders using this indicator as part of a broader trading strategy.
Индикаторы и стратегии
Volumetric Rejection Blocks [UAlgo]The Volumetric Rejection Blocks is designed to help traders identify and visualize key price levels where volumetric rejections occur, which may indicate a shift in market sentiment. These rejections can signal potential trend reversals or areas where price action is likely to face support or resistance. By drawing rejection blocks based on volumetric strength, the indicator allows users to observe where significant buying or selling pressure has been exerted, which can be used as a reference point for future price action.
Also indicator dynamically calculates swing highs and lows, analyzes bullish and bearish strengths based on volume-weighted price movements, and displays rejection blocks on the chart. Each rejection block represents an area where the price attempted to move beyond a certain level but faced rejection, either on a close or wick basis. This can be particularly useful for traders who rely on market structure and order flow to make informed decisions about entering or exiting trades.
🔶 Key Features
Swing Length Customization: Allows users to define the swing length, helping tailor the sensitivity of the swing high and low detection to the specific market conditions.
Rejection Block Visualization: Displays up to the last 10 rejection blocks based on user settings, clearly marking areas of significant bullish or bearish rejections.
Volumetric Strength Analysis: The indicator calculates bullish and bearish strength for each rejection block, based on volume-weighted price movements over the last few bars, giving insight into the intensity of the rejection.
Violation Check Type: Offers two options for violation detection—"Close" and "Wick". This allows traders to specify whether a price level is considered broken only if it closes beyond the level or if any wick breaches it.
Bullish and Bearish Block Coloring: Rejection blocks are colored to represent bullish (green) and bearish (red) rejection areas. The color transparency can be adjusted for clear visibility overlaid on the price chart.
Market Structure Labels: Labels and lines marking "Market Structure Shift" (MSS) and "Break of Structure" (BOS) are displayed, giving traders context about significant market structure changes.
🔶 Interpreting the Indicator
Rejection Blocks: These colored blocks on the chart indicate areas where the price faced significant buying or selling pressure. A green block suggests a bullish rejection (support zone), where buyers absorbed the sell-off, potentially pushing the price upward. Conversely, a red block indicates a bearish rejection (resistance zone), where sellers overpowered buyers, potentially driving the price lower.
Strength Analysis: The width of the green and red sections within a rejection block represents the relative bullish and bearish strengths. A wider green section indicates stronger bullish support, while a wider red section suggests more robust bearish resistance. This helps traders gauge the likelihood of price holding or breaching these levels.
Market Structure Shift (MSS) and Break of Structure (BOS): The indicator automatically detects and labels significant changes in market structure. An "MSS" label indicates the first break, suggesting a potential shift in trend direction. A "BOS" label indicates a subsequent confirmation in trend direction, allowing traders to recognize potential trend continuations.
Violation Check: Traders can choose how to interpret breaks of these rejection blocks. Using the "Close" option provides a more conservative approach, requiring a close beyond the level for confirmation. The "Wick" option is more aggressive, treating any wick beyond the level as a break.
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Inversion Fair Value Gap Oscillator | Flux Charts💎 GENERAL OVERVIEW
Introducing the new Inversion Fair Value Gap Oscillator (IFVG Oscillator) indicator! This unique indicator identifies and tracks Inversion Fair Value Gaps (IFVGs) in price action, presenting them in an oscillator format to reveal market momentum based on IFVG strength. It highlights bullish and bearish IFVGs while enabling traders to adjust detection sensitivity and apply volume and ATR-based filters for more precise setups. For more information about the process, check the "📌 HOW DOES IT WORK" section.
Features of the new IFVG Oscillator:
Fully Customizable FVG & IFVG Detection
An Oscillator Approach To IFVGs
Divergence Markers For Potential Reversals
Alerts For Divergence Labels
Customizable Styling
📌 HOW DOES IT WORK?
Fair Value Gaps are price gaps within bars that indicate inefficiencies, often filled as the market retraces. An Inversion Fair Value Gap is created in the opposite direction once a FVG gets invalidated. The IFVG Oscillator scans historical bars to identify these gaps, then filters them based on ATR or volume. Each IFVG is marked as bullish or bearish according to the opposite direction of the original FVG that got invalidated.
An oscillator is calculated using recent IFVGs with this formula :
1. The Oscillator starts as 0.
2. When a new IFVG Appears, it contributes (IFVG Width / ATR) to the oscillator of the corresponding type.
3. Each confirmed bar, the oscillator is recalculated as OSC = OSC * (1 - Decay Coefficient)
The oscillator aggregates and decays past IFVGs, allowing recent IFVG activity to dominate the signal. This approach emphasizes current market momentum, with oscillations moving bullish or bearish based on IFVG intensity. Divergences are marked where IFVG oscillations suggest potential reversals. Bullish Divergence conditions are as follows :
1. The current candlestick low must be the lowest of last 25 bars.
2. Net Oscillator (Shown in gray line by default) must be > 0.
3. The current Bullish IFVG Oscillator value should be no more than 0.1 below the highest value from the last 25 bars.
Traders can use divergence signals to get an idea of potential reversals, and use the Net IFVG Oscillator as a trend following marker.
🚩 UNIQUENESS
The Inversion Fair Value Gap Oscillator stands out by converting IFVG activity into an oscillator format, providing a momentum-based visualization of IFVGs that reveals market sentiment dynamically. Unlike traditional indicators that statically mark IFVG zones, the oscillator decays older IFVGs over time, showing only the most recent, relevant activity. This approach allows for real-time insight into market conditions and potential reversals based on oscillating IFVG strength, making it both intuitive and powerful for momentum trading.
Another unique feature is the combination of customizable ATR and volume filters, letting traders adapt the indicator to match their strategy and market type. You can also set-up alerts for bullish & bearish divergences.
⚙️ SETTINGS
1. General Configuration
Decay Coefficient -> The decay coefficient for oscillators. Increasing this setting will result in oscillators giving the weight to recent IFVGs, while decreasing it will distribute the weight equally to the past and recent IFVGs.
2. Fair Value Gaps
Zone Invalidation -> Select between Wick & Close price for FVG Zone Invalidation.
Zone Filtering -> With "Average Range" selected, algorithm will find FVG zones in comparison with average range of last bars in the chart. With the "Volume Threshold" option, you may select a Volume Threshold % to spot FVGs with a larger total volume than average.
FVG Detection -> With the "Same Type" option, all 3 bars that formed the FVG should be the same type. (Bullish / Bearish). If the "All" option is selected, bar types may vary between Bullish / Bearish.
Detection Sensitivity -> You may select between Low, Normal or High FVG detection sensitivity. This will essentially determine the size of the spotted FVGs, with lower sensitivies resulting in spotting bigger FVGs, and higher sensitivies resulting in spotting all sizes of FVGs.
3. Inversion Fair Value Gaps
Zone Invalidation -> Select between Wick & Close price for IFVG Zone Invalidation.
4. Style
Divergence Labels On -> You can switch divergence labels to show up on the chart or the oscillator plot.
Engulfing BoxThe Engulfing Box indicator is a custom script designed to visually highlight and track bullish and bearish engulfing candlestick patterns on a price chart. These patterns are often used to identify potential reversal points, making them valuable for technical analysis. The script dynamically draws colored boxes around these patterns, helping users easily spot them in the price action.
Key Features:
Bullish Engulfing Pattern: When a candlestick fully engulfs the previous bearish candle (i.e., the close of the current candle is higher than the open of the previous candle, and the open is lower than the close of the previous candle), the script draws a green box around the bullish engulfing candle. This box is drawn from the open of the previous candle to the low of the previous candle.
Bearish Engulfing Pattern: When a candlestick fully engulfs the previous bullish candle (i.e., the close of the current candle is lower than the open of the previous candle, and the open is higher than the close of the previous candle), a red box is drawn around the bearish engulfing candle. This box is drawn from the open of the previous candle to the high of the previous candle.
Dynamic Box Management: Once an engulfing pattern is detected, a box is drawn with the following attributes:
Bullish Engulfing Box: Green, with a transparent background.
Bearish Engulfing Box: Red, with a transparent background.
The box will adjust its color to gray if the price moves past certain thresholds, indicating that the engulfing pattern may no longer be as relevant.
Max Pattern Tracking: The script limits the number of engulfing boxes tracked on the chart to prevent clutter. The maximum number of bullish and bearish engulfing patterns shown is customizable (set to 500 by default), and once this limit is exceeded, older boxes are deleted to maintain a clean chart.
Pattern Expiry: Boxes are deleted if price action moves beyond the pattern’s range, ensuring that outdated signals are removed. If the low price falls below the bottom of the bullish engulfing box, or the high price rises above the top of the bearish engulfing box, the respective box is removed. Additionally, if the low price moves below the top of the bullish box or the high price exceeds the bottom of the bearish box, the box's color is changed to a more neutral tone.
How it Works:
Pattern Detection: The script compares the current price data with the previous candlestick to detect the bullish or bearish engulfing patterns.
Box Creation: If a pattern is detected, a colored box is drawn around the candle to visually highlight the pattern.
Pattern Expiry and Cleanup: The script continuously monitors past boxes. If the price moves too far from the box’s range, the box is either deleted or altered to reflect the reduced significance of the pattern.
B ox Count Limit: To avoid clutter, the script ensures that no more than 500 bullish or bearish engulfing boxes are shown at any time.
Customization:
The number of previous bars to scan for engulfing patterns can be adjusted (maxBarsback).
The maximum number of patterns displayed at any time can be modified.
Nami Bands with Future Projection [FXSMARTLAB]The Nami Bands ( Inspired by "Nami", meaning "wave" in Japanese) are two dynamic bands around price data: an upper band and a lower band. These bands are calculated based on an Asymmetric Linear Weighted Moving Average of price and a similarly asymmetric weighted standard deviation. This weighting method emphasizes recent data without overreacting to short-term price changes, thus smoothing the bands in line with prevailing market conditions.
Advantages and Benefits of Using the Indicator
* Volatility Analysis: The bands expand and contract with market volatility, helping traders assess periods of high and low volatility. Narrow bands indicate low volatility and potential consolidation, while wide bands suggest increased volatility and potential price movement.
* Dynamic Support and Resistance Levels: By adapting to recent trends, the bands serve as dynamic support (lower band) and resistance (upper band) levels, which traders can use for entry and exit signals.
* Overbought and Oversold Conditions: When prices reach or cross the bands’ outer limits, it may signal overbought (upper band) or oversold (lower band) conditions, suggesting possible reversals or trend slowdowns.
* Trend Confirmation and Continuation: The slope of the central moving average confirms trend direction. An upward slope generally indicates a bullish trend, while a downward slope suggests a bearish trend.
* Anticipating Breakouts and Reversals: The projected bands help identify where price movements may head, allowing traders to anticipate potential breakouts or reversals based on projected support and resistance.
Indicator Parameters
Source (src): The price data used for calculations, by default set to the average of high, low, and close (hlc3).
Length: The period over which calculations are made, defaulted to 50 periods.
Projection Length: The length for future band projection, defaulted to 20 periods.
StdDev Multiplier (mult): A multiplier for the standard deviation, defaulted to 2.0.
Internal Calculations
1. Asymmetric Linear Weighted Moving Average of Price
The indicator uses an Asymmetric Linear Weighted Moving Average (ALWMA) to calculate a central value for the price.
Asymmetric Weighting: This weighting technique assigns the highest weight to the most recent value, with weights decreasing linearly as the data points become older. This structure provides a nuanced focus on recent price trends, while still reflecting historical price levels.
2. Asymmetric Weighted Standard Deviation
The standard deviation in this indicator is also calculated using asymmetric weighting:
Purpose of Asymmetric Weighted Standard Deviation: Rather than aiming for high sensitivity to recent data, this standard deviation measure smooths out volatility by integrating weighted values across the length period, stabilizing the overall measurement of price variability.
This approach yields a balanced view of volatility, capturing broader market trends without being overly reactive to short-lived changes.
3. Upper and Lower Bands
The upper and lower bands are created by adding and subtracting the asymmetric weighted standard deviation from the asymmetric weighted average of price. This creates a dynamic envelope that adjusts to both recent price trends and the smoothed volatility measure:
These bands represent adaptable support and resistance levels that shift with recent market volatility.
Future Band Projection
The indicator provides a projection of the bands based on their current slope.
1. Calculating the Slope of the Bands
The slope for each band is derived from the difference between the current and previous values of each band.
2. Projecting the Bands into the Future
For each period into the future, up to the defined Projection Length, the bands are projected using the current slope.
This feature offers an anticipated view of where support and resistance levels may move, providing insight for future market behavior based on current trends.
Forex Heatmap█ OVERVIEW
This indicator creates a dynamic grid display of currency pair cross rates (exchange rates) and percentage changes, emulating the Cross Rates and Heat Map widgets available on our Forex page. It provides a view of realtime exchange rates for all possible pairs derived from a user-specified list of currencies, allowing users to monitor the relative performance of several currencies directly on a TradingView chart.
█ CONCEPTS
Foreign exchange
The Foreign Exchange (Forex/FX) market is the largest, most liquid financial market globally, with an average daily trading volume of over 5 trillion USD. Open 24 hours a day, five days a week, it operates through a decentralized network of financial hubs in various major cities worldwide. In this market, participants trade currencies in pairs , where the listed price of a currency pair represents the exchange rate from a given base currency to a specific quote currency . For example, the "EURUSD" pair's price represents the amount of USD (quote currency) that equals one unit of EUR (base currency). Globally, the most traded currencies include the U.S. dollar (USD), Euro (EUR), Japanese yen (JPY), British pound (GBP), and Australian dollar (AUD), with USD involved in over 87% of all trades.
Understanding the Forex market is essential for traders and investors, even those who do not trade currency pairs directly, because exchange rates profoundly affect global markets. For instance, fluctuations in the value of USD can impact the demand for U.S. exports or the earnings of companies that handle multinational transactions, either of which can affect the prices of stocks, indices, and commodities. Additionally, since many factors influence exchange rates, including economic policies and interest rate changes, analyzing the exchange rates across currencies can provide insight into global economic health.
█ FEATURES
Requesting a list of currencies
This indicator requests data for every valid currency pair combination from the list of currencies defined by the "Currency list" input in the "Settings/Inputs" tab. The list can contain up to six unique currency codes separated by commas, resulting in a maximum of 30 requested currency pairs.
For example, if the specified "Currency list" input is "CAD, USD, EUR", the indicator requests and displays relevant data for six currency pair combinations: "CADUSD", "USDCAD", "CADEUR", "EURCAD", "USDEUR", "EURUSD". See the "Grid display" section below to understand how the script organizes the requested information.
Each item in the comma-separated list must represent a valid currency code. If the "Currency list" input contains an invalid currency code, the corresponding cells for that currency in the "Cross rates" or "Heat map" grid show "NaN" values. If the list contains empty items, e.g., "CAD, ,EUR, ", the indicator ignores them in its data requests and calculations.
NOTE: Some uncommon currency pair combinations might not have data feeds available. If no available symbols provide the exchange rates between two specified currencies, the corresponding table cells show "NaN" results.
Realtime data
The indicator retrieves realtime market prices, daily price changes, and minimum tick sizes for all the currency pairs derived from the "Currency list" input. It updates the retrieved information shown in its grid display after new ticks become available to reflect the latest known values.
NOTE: Pine scripts execute on realtime bars only when new ticks are available in the chart's data feed. If no new updates are available from the chart's realtime feed, it may cause a delay in the data the indicator receives.
Grid display
This indicator displays the requested data for each currency pair in a table with cells organized as a grid. Each row name corresponds to a pair's base currency , and each column name corresponds to a quote currency . The cell at the intersection of a specific row and column shows the value requested from the corresponding currency pair.
For example, the cell at the intersection of a "EUR" row and "USD" column shows the data retrieved for the "EURUSD" currency pair, and the cell at the "USD" row and "EUR" column shows data for the inverse pair ("USDEUR").
Note that the main diagonal cells in the table, where rows and columns with the same names intersect, are blank. The exchange rate from one currency to itself is always 1, and no Forex symbols such as "EUREUR" exist.
The dropdown input at the top of the "Settings/Inputs" tab determines the type of information displayed in the table. Two options are available: "Cross rates" and "Heat map" . Both modes color their cells for light and dark themes separately based on the inputs in the "Colors" section.
Cross rates
When a user selects the "Cross rates" display mode, the table's cells show the latest available exchange rate for each currency pair, emulating the behavior of the Cross Rates widget. Each cell's value represents the amount of the quote currency (column name) that equals one unit of the base currency (row name). This display allows users to compare cross rates across currency pairs, and their inverses.
The background color of each cell changes based on the most recent update to the exchange rate, allowing users to monitor the direction of short-term fluctuations as they occur. By default, the background turns green (positive cell color) when the cross rate increases from the last recorded update and red (negative cell color) when the rate decreases. The cell's color reverts to the chart's background color after no new updates are available for 200 milliseconds.
Heat map
When a user selects the "Heat map" display mode, the table's cells show the latest daily percentage change of each currency pair, emulating the behavior of the Heat Map widget.
In this mode, the background color of each cell depends on the corresponding currency pair's daily performance. Heat maps typically use colors that vary in intensity based on the calculated values. This indicator uses the following color coding by default:
• Green (Positive cell color): Percentage change > +0.1%
• No color: Percentage change between 0.0% and +0.1%
• Bright red (Negative cell color): Percentage change < -0.1%
• Lighter/darker red (Minor negative cell color): Percentage change between 0.0% and -0.1%
█ FOR Pine Script™ CODERS
• This script utilizes dynamic requests to iteratively fetch information from multiple contexts using a single request.security() instance in the code. Previously, `request.*()` functions were not allowed within the local scopes of loops or conditional structures, and most `request.*()` function parameters, excluding `expression`, required arguments of a simple or weaker qualified type. The new `dynamic_requests` parameter in script declaration statements enables more flexibility in how scripts can use `request.*()` calls. When its value is `true`, all `request.*()` functions can accept series arguments for the parameters that define their requested contexts, and `request.*()` functions can execute within local scopes. See the Dynamic requests section of the Pine Script™ User Manual to learn more.
• Scripts can execute up to 40 unique `request.*()` function calls. A `request.*()` call is unique only if the script does not already call the same function with the same arguments. See this section of the User Manual's Limitations page for more information.
• Typically, when requesting higher-timeframe data with request.security() using barmerge.lookahead_on as the `lookahead` argument, the `expression` argument should use the history-referencing operator to offset the series, preventing lookahead bias on historical bars. However, the request.security() call in this script uses barmerge.lookahead_on without offsetting the `expression` because the script only displays results for the latest historical bar and all realtime bars, where there is no future information to leak into the past. Instead, using this call on those bars ensures each request fetches the most recent data available from each context.
• The request.security() instance in this script includes a `calc_bars_count` argument to specify that each request retrieves only a minimal number of bars from the end of each symbol's historical data feed. The script does not need to request all the historical data for each symbol because it only shows results on the last chart bar that do not depend on the entire time series. In this case, reducing the retrieved bars in each request helps minimize resource usage without impacting the calculated results.
Look first. Then leap.
Average Bullish & Bearish Percentage ChangeAverage Bullish & Bearish Percentage Change
Processes two key aspects of directional market movements relative to price levels. Unlike traditional momentum tools, it separately calculates the average of positive and negative percentage changes in price using user-defined independent counts of actual past bullish and bearish candles. This approach delivers comprehensive and precise view of average percentage changes.
FEATURES:
Count-Based Averages: Separate averaging of bullish and bearish %𝜟 based on their respective number of occurrences ensures reliable and precise momentum calculations.
Customizable Averaging: User-defined number of candle count sets number of past bullish and bearish candles used in independent averaging.
Two Methods of Candle Metrics:
1. Net Move: Focuses on the body range of the candle, emphasizing the net directional movement.
2. Full Capacity: Incorporates wicks and gaps to capture full potential of the bar.
The indicator classifies Doji candles contextually, ensuring they are appropriately factored into the bullish or bearish metrics to avoid mistakes in calculation:
1. Standard Doji - open equals close.
2. Flat Close Doji - Candles where the close matches the previous close.
Timeframe Flexibility:
The indicator can be applied across any desired timeframe, allowing for seamless multi-timeframe analysis.
HOW TO USE
Select Method of Bar Metrics:
Net Move: For analyzing markets where price changes are consistent and bars are close to each other.
Full Capacity: Incorporates wicks and gaps, providing relevant figures for markets like stocks
Set the number of past candles to average:
🟩 Average Past Bullish Candles (Default: 10)
🟥 Average Past Bullish Candles (Default: 10)
Why Percentage Change Is Important
Standardized Measurement Across Assets:
Percentage change normalizes price movements, making it easier to compare different assets with varying price levels. For example, a $1 move in a $10 stock is significant, but the same $1 move in a $1,000 stock is negligible.
Highlights Relative Impact:
By measuring the price change as a percentage of the close, traders can better understand the relative impact of a move on the asset’s overall value.
Volatility Insights:
A high percentage change indicates heightened volatility, which can be a signal of potential opportunities or risks, making it more actionable than raw price changes. Percents directly reflect the strength of buying or selling pressure, providing a clearer view of momentum compared to raw price moves, which may not account for the relative size of the move.
By focusing on percentage change, this indicator provides a normalized, actionable, and insightful measure of market momentum, which is critical for comparing, analyzing, and acting on price movements across various assets and conditions.
Simplified MetroThis is a derivative of J. Welles Wilder's RSI (Relative Strength Index) from 1978. This version uses a fast and slow offset of the RSI to create signals. The RSI itself has been removed from this version for visual simplicity, but its setting still has an impact on the fast and slow stepped lines.
The "RSI Period" sets the number of bars used to calculate the RSI. A higher value results in a smoother RSI, while a lower value makes it more reactive to price changes.
The "Fast Step Size" defines the step size for the fast trend line. A larger value makes the fast step line less sensitive to RSI changes, creating a smoother line.
The "Slow Step Size" defines the step size for the slow trend line. A larger value makes the slow step line less sensitive to RSI changes, resulting in a smoother line compared to the fast step.
When the faster blue line crosses and closes above the slower fuchsia line we have a signal to go long, and vice versa we take a short position.
This indicator should not be traded on its own, but could be a valuable addition to a system used for identifying trends.
Higher Time Frame Support/Resistance [BigBeluga]The Higher Time Frame Support/Resistance indicator is a tool designed to display pivot points derived from higher timeframes on your current chart. These pivot points are calculated based on the highs and lows of price action in different timeframes, and the indicator draws horizontal lines to represent these levels. These lines act as potential support and resistance zones, giving traders key market levels that may influence future price movement.
Each pivot line is color-coded and labeled with its price value and the timeframe it originates from. This allows traders to clearly differentiate between the significance of the levels based on their timeframe. For example, weekly pivot levels may represent stronger, more long-term support and resistance, while hourly pivots offer more immediate, short-term levels to watch.
🔵 IDEA
The Higher Time Frame Support/Resistance indicator is designed to simplify the process of tracking key support and resistance levels across multiple timeframes. Pivot points, which represent turning points in the market, are essential for identifying areas where price might reverse or break out. By displaying these levels from higher timeframes directly on the current chart, traders can quickly identify and react to critical areas in the market without needing to switch between different timeframe charts.
The indicator labels each pivot point with the specific timeframe it comes from (e.g., 4H, 1D, 1W), making it easy for traders to assess the relative strength of each level. Stronger levels from higher timeframes are likely to act as more significant barriers or support zones, while lower timeframe levels can be used for more precise entries and exits.
🔵 KEY FEATURES
Pivot Levels from Multiple Timeframes:
The indicator calculates pivot highs and lows from various higher timeframes (e.g., 4H, 1D, 1W) and plots these levels on the current chart. These pivot points are represented by horizontal lines that extend across the chart, serving as potential support and resistance zones.
Color-Coded Support and Resistance Lines:
Each pivot level is color-coded based on its timeframe, helping traders quickly differentiate between short-term and long-term support and resistance. This visual aid simplifies the analysis and allows for a clearer understanding of key market levels.
Price Labels and Timeframe Information:
In addition to the pivot lines, the indicator displays labels at each level with the corresponding price and timeframe. For example, a label may show "D Pivot High" followed by the exact price. This helps traders understand the origin and significance of each line, allowing for more informed trading decisions.
Labels up and down mark highs and lows from higher timeframes:
Pivot Shadows for Enhanced Clarity:
The indicator can also draw shadow lines that represent the pivot points but with increased transparency. These shadows allow traders to keep track of previous pivots without cluttering the chart with too many solid lines. The width and transparency of these shadows can be customized in the settings.
🔵 HOW TO USE
🔵 CUSTOMIZATION
Timeframes and Pivot Length: Customize which higher timeframes (e.g., 4H, 1D, 1W) you want to display pivot levels from. Adjust the pivot length to control how sensitive the indicator is in detecting market highs and lows.
Line Style and Colors: Adjust the line style (solid, dashed, dotted) and colors for each timeframe to match your personal preference or chart theme. This customization helps in maintaining a clear and visually appealing chart.
Shadow Line Width and Transparency: Control the width and transparency of the shadow pivot lines to reduce chart clutter while still keeping track of key historical levels.
ORB with ATR Trailing SL [Bluechip Algos]This is a simple ORB (Opening Range Breakout) Indicator that not only signals breakout directions based on the opening session range but also includes trailing stop levels to manage ongoing trades. Instead of regular fixed Stop loss, we use ATR indicator (ATR based SL) to trail the stop loss that might help in maximizing the profitable trades. This helps especially during the trending days where market moves unidirectionally.
About the Indicator
Opening Range Identification: The indicator defines an initial session timeframe and captures the highest and lowest prices during this period.
Breakout Signals: It signals potential entry points when the price crosses these range boundaries.
Trailing Stop Calculation: Customizable trailing stop-loss based on ATR percentage, helping users lock in profits.
Features
Session Customization: User-defined session for setting the opening range.
Entry Signal Customization: Allows configuration for breakouts on either a closing basis or upon touching the level.
Automatic Stop-Loss Adjustments: Dynamic trailing stop levels that adapt to both long and short entries.
Visual Display: Highlights breakout levels and plots lines representing stop-loss levels.
Understanding the Indicator
Range Calculation: After defining the session, the high and low of the session are locked. The high serves as the upper breakout boundary, and the low as the lower boundary.
Signals (Buy and Sell): The indicator uses crossover conditions:
Buy Signal ("B") when price crosses above the ORB high.
Sell Signal ("S") when price crosses below the ORB low.
Trail Stop Calculation: When a signal is triggered, a trailing stop level is set and updates as the trade progresses:
Long positions have a stop-loss based on a percentage below the last closing price.
Short positions have a stop-loss based on a percentage above the last closing price.
Input Parameters
Session Time (ORB Session Time): Start and end times for setting the ORB range.
Signal Configuration: Choice between "CLOSE" (signal on close) or "TOUCH" (signal as soon as level is touched).
ATR Percentage: Sets the percentage for the trailing stop calculation.
Alex JMA RSX Clone with Price & Divergence [LazyBear]Indicator Description:
RSX Indicator (RSXC_LB): This script is based on a clone of the JMA RSX (Relative Strength Index clone by LazyBear). It is a momentum-based indicator that helps identify overbought and oversold levels, as well as potential trend reversals.
Functional Changes:
Convergence is now marked with a white line on the RSX plot.
Bullish Divergence is marked with a green line, indicating potential upward movement.
Bearish Divergence is marked with a red line, indicating potential downward movement.
The default state is marked with a blue line.
Strong Divergences (both bullish and bearish) are highlighted with triangle markers on the chart.
Updated Features:
The script now visualizes convergence and divergence more clearly using distinct colors:
White: Convergence (indicates potential trend strength).
Green: Bullish divergence (possible price increase).
Red: Bearish divergence (possible price decrease).
Blue: Neutral/default state.
Triangle markers indicate strong divergences, making it easier for the user to spot critical moments.
This visual enhancement aims to provide clearer and more intuitive signals for traders using the RSX indicator, helping them identify trend changes and reversals more effectively.
Probabilistic Trend Oscillator** MACD PLOTS ARE NOT PART OF THE INDICATOR IT IS FOR COMPARSION**
The "Probabilistic Trend Oscillator" is a technical indicator designed to measure trend strength and direction by analyzing price behavior relative to a moving average over both long-term and short-term periods. This indicator incorporates several innovative features, including probabilistic trend detection, enhanced strength scaling, and percentile-based thresholds for identifying potential trend reversals.
Key Components
Inputs:
The indicator allows users to customize several key parameters:
EMA Length defines the period for the Exponential Moving Average (EMA), which serves as a baseline to classify trend direction.
Long and Short Term Lengths provide customizable periods for analyzing trend strength over different timeframes.
Signal Line Length is used to smooth the trend strength data, helping users spot more reliable trend signals.
Extreme Value Lookback Length controls how far back to look when calculating percentile thresholds, which are used to identify overbought and oversold zones.
Trend Classification:
The indicator categorizes price behavior into four conditions:
Green: Price closes above the open and is also above the EMA, suggesting a strong upward trend.
Red: Price closes below the open but is above the EMA, indicating weaker upward pressure.
Green1: Price closes above the open but remains below the EMA, representing weak upward movement.
Red1: Price closes below the open and the EMA, signaling a strong downward trend.
Trend Strength Calculation:
The script calculates long-term and short-term trend values based on the frequency of these trend conditions, normalizing them to create probabilistic scores.
It then measures the difference between the short-term and long-term trend values, creating a metric that reflects the intensity of the current trend. This comparison provides insight into whether the trend is strengthening or weakening.
Enhanced Trend Strength:
To emphasize significant movements, the trend strength metric is scaled by the average absolute price change (distance between close and open prices). This creates an "enhanced trend strength" value that highlights periods with high momentum.
Users can toggle between two variations of trend strength:
Absolute Trend Strength is a straightforward measure of the trend's force.
Relative Trend Strength accounts for deviations between short term and long term values, focusing on how current price action differs from a long term behavior.
Percentile-Based Thresholds:
The indicator calculates percentile thresholds over the specified lookback period to mark extreme values:
The 97th and 3rd percentiles act as overbought and oversold zones, respectively, indicating potential reversal points.
Intermediate levels (75th and 25th percentiles) are added to give additional context for overbought or oversold conditions, creating a probabilistic range.
Visualization:
The selected trend strength value (either absolute or relative) is plotted in orange.
Overbought (green) and oversold (red) percentiles are marked with dashed lines and filled in blue, highlighting potential reversal zones.
The signal line—a smoothed EMA of the trend strength—is plotted in white, helping users to confirm trend changes.
A gray horizontal line at zero acts as a baseline, further clarifying the strength of upward vs. downward trends.
Summary
This indicator provides a flexible, probabilistic approach to trend detection, allowing users to monitor trend strength with customizable thresholds and lookback periods. By combining percentile-based thresholds with enhanced trend strength scaling, it offers insights into market reversals and momentum shifts, making it a valuable tool for both trend-following and counter-trend trading strategies.
Depth Trend Indicator - RSIDepth Trend Indicator - RSI
This indicator is designed to identify trends and gauge pullback strength by combining the power of RSI and moving averages with a depth-weighted calculation. The script was created by me, Nathan Farmer and is based on a multi-step process to determine trend strength and direction, adjusted by a "depth" factor for more accurate signal analysis.
How It Works
Trend Definition Using RSI: The RSI Moving Average ( rsiMa ) is calculated to assess the current trend, using customizable parameters for the RSI Period and MA Period .
Trends are defined as follows:
Uptrend : RSI MA > Critical RSI Value
Downtrend : RSI MA < Critical RSI Value
Pullback Depth Calculation: To measure pullback strength relative to the current trend, the indicator calculates a Depth Percentage . This is defined as the portion of the gap between the moving average and the price covered by a pullback.
Depth-Weighted RSI Calculation: The Depth Percentage is then applied as a weighting factor on the RSI Moving Average , giving us a Weighted RSI line that adjusts to the depth of pullbacks. This line is rather noisy, and as such we take a moving average to smooth out some of the noise.
Key Parameters
RSI Period : The period for RSI calculation.
MA Period : The moving average period applied to RSI.
Price MA Period : Determines the SMA period for price, used to calculate pullback depth.
Smoothing Length : Length of smoothing applied to the weighted RSI, creating a more stable signal.
RSI Critical Value : The critical value (level) used in determining whether we're in an uptrend or a downtrend.
Depth Critical Value : The critical value (level) used in determining whether or not the depth weighted value confirms the state of a trend.
Notes:
As always, backtest this indicator and modify the parameters as needed for your specific asset, over your specific timeframe. I chose these defaults as they worked well on the assets I look at, but it is likely you tend to look at a different group of assets over a different timeframe than what I do.
Large pullbacks can create large downward spikes in the weighted line. This isn't graphically pleasing, but I have tested it with various methods of normalization and smoothing and found the simple smoothing used in the indicator to be best despite this.
Market Structure Algo V2 [OmegaTools]The Market Structure Algo V2 (MS Algo V2) is an advanced TradingView indicator developed by OmegaTools to provide traders with a comprehensive analysis of market structure. This tool refines the insights provided by its predecessor, combining enhanced pivot point analysis, dynamic market structure scoring, and zone visualization to deliver an intuitive view of potential market movements. Through custom settings, the MS Algo V2 allows users to tailor the indicator to fit their trading strategies more closely, offering enhanced adaptability to both short-term and long-term trends.
Core Functionality
The MS Algo V2 differentiates between internal and external market structures by analyzing pivot highs and lows over user-defined periods. The internal market structure focuses on shorter timeframes, providing insights into recent price action, while the external structure considers broader trends. This dual-layered approach helps traders distinguish between immediate and overarching market trends.
The indicator introduces improved visualization for areas of interest or zones around pivot points, adjustable through zone distance settings. These zones serve as potential support and resistance areas, helping traders anticipate price reactions at key levels. In addition to the zones, the indicator now provides gradient-based color coding on bars, reflecting the market structure’s bullish or bearish intensity. This visual enhancement aids in quickly interpreting the current trend's strength.
Dynamic signal generation has been refined in MS Algo V2. The indicator now offers both classic signals and breakout signals based on the market structure, including entries, exits, and change-of-character (CHoCH) alerts. Signals are generated based on price interactions with pivot levels, indicating potential long and short opportunities.
Operational Mechanism
The MS Algo V2 calculates pivot highs and lows over specified periods to define internal and external market structures. A market structure score is derived from these pivot points, classifying the market into bullish or bearish extremes. Signals are generated as the closing price interacts with these levels, marking entry and exit points based on the calculated structure.
A new feature in this version is zone visualization, where zones are plotted around a dynamic moving average derived from the exponential and simple moving averages (EMA and SMA). The zones are adjusted based on ATR (Average True Range) and the specified zone distance percentile, providing a clear visual representation of potential support and resistance regions. The external and internal zones are represented with different levels of transparency for quick reference.
Usage Guidelines
To apply the MS Algo V2 to your TradingView charts, adjust the internal and external market structure settings to match your preferred analysis timeframes. The line style and width of each structure can also be customized for a tailored view. The Zone Distance setting allows users to define the percentile range of the zones around the moving average, providing further flexibility in identifying potential areas of support and resistance.
For a color-coded overview of market sentiment, the bar gradient feature can be enabled. This option uses a gradient that reflects the bullish or bearish intensity of the market structure, giving traders a visual cue on the market’s overall trend. Color-coded signals and zone fill areas further assist in interpreting the current market structure and identifying potential trade areas.
The indicator includes customizable alerts for long and short signals, as well as specific breakout alerts (BOS) and change-of-character (CHoCH) signals. These alerts can help traders stay informed about significant market structure changes, supporting timely trading decisions.
Understanding the Indicator’s Originality
The MS Algo V2 stands out due to its robust integration of pivot analysis, zone visualization, and market structure scoring, offering a unique perspective on market dynamics. With features like color-coded signals, bar gradients, and configurable alerts, MS Algo V2 provides an edge in understanding both the current market environment and potential turning points. This indicator’s ability to represent the market’s structure visually makes it a powerful addition to any trader’s toolkit, especially for those seeking a deeper, multi-layered approach to market analysis.
ATT Model with Buy/Sell SignalsIndicator Summary
This indicator is based on the ATT (Arithmetic Time Theory) model, using specific turning points derived from the ATT sequence (3, 11, 17, 29, 41, 47, 53, 59) to identify potential market reversals. It also integrates the RSI (Relative Strength Index) to confirm overbought and oversold conditions, triggering buy and sell signals when conditions align with the ATT sequence and RSI level.
Turning Points: Detected based on the ATT sequence applied to bar count. This suggests high-probability areas where the market could turn.
RSI Filter: Adds strength to the signals by ensuring buy signals occur when RSI is oversold (<30) and sell signals when RSI is overbought (>70).
Max Signals Per Session: Limits signals to two per session to reduce over-trading.
Entry Criteria
Buy Signal: Enter a buy trade if:
The indicator displays a green "BUY" marker.
RSI is below the oversold level (default <30), suggesting a potential upward reversal.
Sell Signal: Enter a sell trade if:
The indicator displays a red "SELL" marker.
RSI is above the overbought level (default >70), indicating a potential downward reversal.
Exit Criteria
Take Profit (TP):
Define TP as a fixed percentage or point value based on the asset's volatility. For example, set TP at 1.5-2x the risk, or a predefined point target (like 50-100 points).
Alternatively, exit the position when price approaches a key support/resistance level or the next significant swing high/low.
Stop Loss (SL):
Place the SL below the recent low (for buys) or above the recent high (for sells).
Set a fixed SL in points or percentage based on the asset’s average movement range, like an ATR-based stop, or limit it to a specific risk amount per trade (1-2% of account).
Trailing into Profit
Use a trailing strategy to lock in profits and let winning trades run further. Two main options:
ATR Trailing Stop:
Set the trailing stop based on the ATR (Average True Range), adjusting every time a new candle closes. This can help in volatile markets by keeping the stop at a consistent distance based on recent price movement.
Break-Even and Partial Profits:
When the price moves in your favor by a set amount (e.g., 1:1 risk/reward), move SL to the entry (break-even).
Take partial profit at intermediate levels (e.g., 50% at 1:1 RR) and trail the remainder.
Risk Management for Prop Firm Evaluation
Prop firms often have strict rules on daily loss limits, max drawdowns, and minimum profit targets. Here’s how to align your strategy with these:
Limit Risk per Trade:
Keep risk per trade to a conservative level (e.g., 1% or lower of your account balance). This allows for more room in case of a drawdown and aligns with most prop firm requirements.
Daily Loss Limits:
Set a daily stop-loss that ensures you don’t exceed the firm’s rules. For example, if the daily limit is 5%, stop trading once you reach a 3-4% drawdown.
Avoid Over-Trading:
Stick to the max signals per session rule (one or two trades). Taking only high-probability setups reduces emotional and reactive trades, preserving capital.
Stick to a Profit Target:
Aim to meet the evaluation’s profit goal efficiently but avoid risky or oversized trades to reach it faster.
Avoid Major Economic Events:
News events can disrupt technical setups. Avoid trading around significant releases (like FOMC or NFP) to reduce the chance of sudden losses due to high volatility.
Summary
Using this strategy with discipline, a structured entry/exit approach, and tight risk management can maximize your chances of passing a prop firm evaluation. The ATT model’s turning points, combined with the RSI, provide an edge by highlighting reversal zones, while limiting trades to 1-2 per session helps maintain controlled risk.
Multi-Trend SynchronizerMulti-Trend Synchronizer
The Multi-Trend Synchronizer indicator provides a multi-timeframe trend analysis using SMMA (Smoothed Moving Average) across three user-defined timeframes: short, medium, and long-term. By synchronizing trends from these timeframes, this tool helps traders identify stronger alignment signals for potential trend continuation or reversal, enhancing decision-making in various market conditions.
Key Features
Multi-Timeframe Trend Analysis: Users can set three different timeframes, allowing flexibility in tracking trends over short (e.g., 15 minutes), medium (e.g., 1 hour), and long-term (e.g., 4 hours) intervals.
Clear Trend Visualization: The indicator plots SMMA lines on the main chart, color-coded by timeframe for intuitive reading. It also displays an at-a-glance trend alignment table, showing the current trend direction (bullish, bearish, or neutral) for each timeframe.
Buy and Sell Signals: Alignment across all timeframes generates Buy and Sell signals, visualized on the chart with distinct markers to aid entry/exit timing.
Usage Notes
This indicator is best used for trend-following strategies. The SMMA-based design provides smoother trend transitions, reducing noise compared to standard moving averages. However, as with all indicators, it is not foolproof and should be combined with other analyses for robust decision-making.
How It Works
The indicator calculates SMMA values for each selected timeframe and tracks trend changes based on SMMA's direction. When all timeframes show a unified direction (either bullish or bearish), the indicator generates a Buy or Sell signal. A table displays real-time trend direction, with color codes to assist traders in quickly assessing the market's overall direction.
Indicator Settings
Timeframes: Customize each SMMA timeframe to align with personal trading strategies or market conditions.
SMMA Length: Adjust the length of the SMMA to control sensitivity. Lower values may increase signal frequency, while higher values provide smoother, more stable trend indicators.
Disclaimer: As with any trend-following tool, this indicator is most effective when used in trending markets and may be less reliable in sideways conditions. Past performance does not guarantee future results, and users should be cautious of market volatility.
Use it for educational purposes!
No-Gap-CandlesCandle indicator that makes the chart more readable by removing overnight gaps by using the closing price of the previous day as the opening price of the current day.
First 5 Minutes Open/Close LinesThis very simple indicator paints lines at the high and low of the first 5m candle of the session. It is primarily intended for big cap NYSE traded stocks with high volume. I wrote this indicator to save me the trouble of manually drawing the lines each day.
The lines drawn at the 5m high/low will remain constant regardless of which timeframe you switch to. In the example screenshot, we are looking at the 1m timeframe. This helps us switch effortlessly between different timeframes to see if a given price movement meets our entry criteria.
In addition to drawing lines at the first 5m high/low, it will optionally paint two zones, one each around the high and low. The boundaries of this zone are configurable and expressed as a percentage of the total movement of the first 5m bar. By default, it is set to 25%.
This indicator is based on the concept that the first 5m bar always has massive volume which helps us infer that price may react around the extremes of that movement. The basic strategy works something like this:
- You identify the high timeframe (HTF) trend direction of the stock
- You wait for the first 5m candle of the session to close
- You wait for price to puncture through the outer boundary of the zone marked by the indicator.
- You enter when price retraces to the high, or low, which marks the midpoint of the punctured zone.
- Only enter long on stocks in a HTF uptrend, and short on stocks in an HTF downtrend.
- Use market structure to identify stop loss and take profit targets
Note: Use at your own risk. This indicator and the strategy described herein are not in any way financial advice, nor does the author of this script make any claims about the effectiveness of this strategy, which may depend highly on the discretion and skill of the trader executing it, among many other factors outside of the author's control. The author of this script accepts no liability, and is not responsible for any trading decisions that you may or may not make as a result of this indicator. You should expect to lose money if using this indicator.
Enhanced Pressure MTF ScreenerEnhanced Pressure Multi-Timeframe (MTF) Screener Indicator
Overview
The Enhanced Pressure MTF Screener is an add-on that extends the capabilities of the Enhanced Buy/Sell Pressure, Volume, and Trend Bar Analysis . It provides a clear and consolidated view of buy/sell pressure across multiple timeframes. This indicator allows traders to determine when different timeframes are synchronized in the same trend direction, which is particularly useful for making high-confidence trading decisions.
Image below: is the Enhanced Buy/Sell Pressure, Volume, and Trend Bar Analysis with the Enhanced Pressure MTF Screener indicator both active together.
Key Features
1.Multi-Timeframe Analysis
The indicator screens various predefined timeframes (from 1 week down to 10 minutes).
It offers a table view that shows buy or sell ratings for each timeframe, making it easy to see which timeframes are aligned.
Traders can choose which timeframes to include based on their trading strategies (e.g., higher timeframes for position trading, lower timeframes for scalping).
2.Pressure and Trend Calculation
Uses Buy and Sell Pressure calculations from the Enhanced Buy/Sell Pressure indicator to determine whether buying or selling is dominant in each timeframe.
By analyzing pressures on multiple timeframes, the indicator gives a comprehensive perspective of the current market sentiment.
The indicator calculates whether a move is strong based on user-defined thresholds, which are displayed in the form of additional signals.
3.Heikin Ashi Option
The Heikin Ashi candle type can be toggled on or off. Using Heikin Ashi helps smooth out market noise and provides a clearer indication of trend direction.
This is particularly helpful for traders who want to filter out market noise and focus on the primary trend.
4.Table Customization
Table Positioning: The table showing timeframe data can be positioned at different locations on the chart—top, middle, or bottom.
Text and Alignment: The alignment and text size of the table can be customized for better visual clarity.
Color Settings: Users can choose specific colors to indicate buying and selling pressure across timeframes, making it easy to interpret.
5.Strong Movement Indicators
The screener provides an additional visual cue (🔥) for timeframes where the movement is deemed strong, based on a user-defined threshold.
This helps highlight timeframes where significant buying or selling pressure is present, which could signal potential trading opportunities.
How the Screener Works
1.Pressure Calculation
For each selected timeframe, the indicator retrieves the Open, High, Low, and Close (OHLC) values.
It calculates buy pressure (the range between high and low when the closing price is higher than the opening) and sell pressure (the range between high and low when the closing price is equal to or lower than the opening).
The screener computes the pressure ratio, which represents the difference between buying and selling pressure, to determine which side is dominant.
2.Trend Rating and Signal Generation
Based on the calculated pressure, the screener determines a trend rating for each timeframe: "Buy," "Sell," or "Neutral." (▲ ,▼ or •)
Additionally, it generates a signal (▲ or ▼) to indicate the current trend direction and whether the move is strong (based on the user-defined threshold).
If the movement is strong, a fire icon (🔥) is added to indicate that there is significant pressure on that timeframe, signaling a higher confidence in the trend.
3.Customizable Strong Move Thresholds
Strong Move Threshold: The screener uses this value to decide whether a trend is significantly strong. A higher value makes it more selective in determining strong moves.
Strong Movement Threshold: Helps determine when an additional strong signal should be displayed, offering further insight into the strength of market movement.
Inputs and Customization
The Enhanced Pressure MTF Screener is highly customizable to fit the needs of individual traders:
General Settings:
Use Heikin Ashi: Toggle this setting to use Heikin Ashi for a smoother trend representation.
Strong Move Threshold: Defines how strong a move should be to be considered significant.
Strong Movement Threshold: Specifies the level of pressure required to highlight a move with the fire icon.
Table Settings:
Position: Choose the vertical position of the screener table (top, middle, or bottom of the chart).
Alignment: Align the table (left, center, or right) to best suit your chart layout.
Text Size: Adjust the text size in the table for better readability.
Table Color Settings:
Users can set different colors to represent buying and selling signals for better visual clarity, particularly when scanning multiple timeframes.
Timeframe Settings:
The screener provides options to include up to ten different timeframes. Traders can select and customize each timeframe to match their strategy.
Examples of available timeframes include 1 Week, 1 Day, 12 Hours, down to 10 Minutes, allowing for both broad and detailed analysis.
Practical Use Case
Identifying Trend Alignment Across Timeframes:
Imagine you are about to take a long trade but want to make sure that the trend direction is aligned across multiple timeframes.
The screener displays "Buy" ratings across the 4H, 1H, 30M, and 10M timeframes, while higher timeframes (like 1W and 1D) also show "Buy" with strong signals (🔥). This indicates that buying pressure is strong across the board, adding confidence to your trade.
Spotting Reversal Opportunities:
If a downtrend is evident across most timeframes but suddenly a higher timeframe, such as 12H, changes to "Buy" while showing a strong move (🔥), this could indicate a potential reversal.
The screener allows you to spot these discrepancies and consider taking early action.
Benefits for Traders
1.Synchronization Across Timeframes:
One of the main strengths of this screener is its ability to show synchronized buy/sell signals across different timeframes. This makes it easy to confirm the strength and consistency of a trend.
For example, if you see that all the selected timeframes display "Buy," this implies that both short-term and long-term traders are favoring the upside, giving additional confidence to go long.
2.Quick and Visual Trend Overview:
The table offers an at-a-glance summary, reducing the time required to manually inspect each timeframe.
This makes it particularly useful for traders who want to make quick decisions, such as day traders or scalpers.
3.Strong Move Indicator:
The use of fire icons (🔥) provides an easy way to identify significant movements. This is particularly helpful for traders looking for breakouts or strong market conditions that could lead to high probability trades.
To put it short or to summarize
The Enhanced Pressure MTF Screener is a powerful add-on for traders looking to understand how buy and sell pressure aligns across multiple timeframes. It offers:
A clear summary of buying or selling pressure across different timeframes.
Heikin Ashi smoothing, providing an option to reduce market noise.
Strong movement signals to highlight significant trading opportunities.
Customizable settings to fit any trading strategy or style.
The screener and the main indicator are best used together, as the screener provides the multi-timeframe overview, while the main indicator provides an in-depth look at each individual bar and trend.
I hope my indicator helps with your trading, if you guys have any ideas or questions there is the comment section :D
Enhanced Buy/Sell Pressure, Volume, and Trend Bar analysisEnhanced Buy/Sell Pressure, Volume, and Trend Bar Analysis Indicator
Overview
This indicator is designed to help traders identify buy and sell pressure, volume changes, and overall trend direction in the market. It combines multiple concepts like price action, volume, and trend analysis, candlestick anaysis to provide a comprehensive view of market dynamics. The visual elements are intuitive, making it suitable for traders at different levels. This indicator works together with Enhanced Pressure MTF Screener which is a screener based of this indicator to make it easier to see Bullish/Bearish pressures and trend across multiple timeframes.
Image below: is the Enhanced Buy/Sell Pressure, Volume, and Trend Bar Analysis with the Enhanced Pressure MTF Screener indicator both active together.
Key Features
1.Buy/Sell Pressure Identification
Buy Pressure: Calculated based on price movement where the close price is higher than the opening price.
Sell Pressure: Calculated when the closing price is equal to or lower than the opening price.These pressures help you understand whether buyers or sellers are more dominant for each bar.
2.Volume Analysis
Normalized Volume: Volume data is normalized, making it easier to compare volume levels over different periods.
Volume Histogram: The volume is also presented as a histogram for easy visualization, showing whether the current volume is higher or lower compared to the average.
3.Simplified Coloring Option
You can choose to simplify the coloring of bars to reflect the dominant pressure: green for bullish pressure and red for bearish pressure. This makes it visually easier to identify who is in control. When simplified coloring is disabled, the bars' colors will represent the combined effect of buy and sell pressure.
4.Heikin-Ashi Candles for Pressure Calculation
The indicator includes an option to use Heikin-Ashi candles instead of traditional candles to calculate buy and sell pressure. Heikin-Ashi candles are known for smoothing out price action and providing a clearer trend representation.
5.Trend Background Coloring
This feature uses exponential moving averages (EMAs) to determine the trend:
Short-Term EMA vs. Long-Term EMA: When the short-term EMA is above the long-term EMA, the trend is considered bullish, and vice versa.
The background color changes based on the identified trend: green for an uptrend and red for a downtrend. This feature helps visualize the overall market direction at a glance.
6.Signals for Key Price Actions
The indicator plots various symbols to signal important price movements:
Bullish Close (▲): Indicates a strong upward movement where the close price crosses above the open.
Bearish Close (▼): Indicates a downward movement where the close price falls below the open.
Higher High (•): Highlights new highs compared to previous bars, useful for confirming an uptrend.
Lower Low (•): Highlights lower lows compared to previous bars, which can indicate a downtrend or bearish pressure.
Calculations Explained
1.Buy and Sell Pressure Calculation
The buy pressure is determined by the price range (high - low) if the closing price is above the opening price, indicating an increase in value.
The sell pressure is similarly calculated when the closing price is equal to or below the opening price.
The indicator uses the Average True Range (ATR) for normalization. Normalizing helps you compare pressure across different periods, regardless of market volatility.
2.Volume Normalization
Volume Normalization: To make volume comparable across different periods, the indicator normalizes it using the Simple Moving Average (SMA) of volume over a user-defined length.
Volume Histogram: The histogram provides a clear representation of volume changes compared to the average, making it easier to spot unusual activity that may indicate market shifts.
3.Combined Pressure Calculation
The indicator calculates a combined pressure value by subtracting sell pressure from buy pressure.
When combined pressure is positive, buying is dominant, and when negative, selling is dominant. This helps in visually understanding the ongoing momentum.
4.Trend Calculation
The indicator uses two EMAs to determine the trend:
Short-Term EMA (default 14-period) to capture recent price movements.
Long-Term EMA (default 50-period) to provide a broader trend perspective.
By comparing these EMAs on a higher timeframe, the indicator can identify whether the trend is up or down, making it easier for traders to align their trades with the larger market movement.
Inputs and Customization
The indicator provides several options for customization, allowing you to adjust it to your preferences:
SMA Length: Determines the lookback period for moving averages and volume normalization. A longer length provides more smoothing, whereas a shorter length makes the indicator more responsive.
Buy/Sell/Volume Colors: Customize the colors used to represent buying, selling, and volume to suit your preferences.
Heikin Ashi Option: Toggle between using Heikin Ashi or traditional OHLC (Open-High-Low-Close) candles for pressure calculations.
Trend Timeframe and EMA Periods: You can choose different timeframes and EMA periods for trend analysis to suit your trading strategy.
How to Use This Indicator
Identifying Market Momentum: Use the buy/sell pressure columns to see which side (buyers or sellers) is in control. Positive pressure combined with green color indicates strong buying, while red indicates selling.
Volume Confirmation: Check the volume area plot and histogram. High volume coupled with strong pressure is a sign of conviction, meaning the current move has backing from market participants.
Trend Identification: The trend background color helps identify the overall trend direction. Trade in the direction of the trend (e.g., take long positions during a green background).
Signal Indicators: The plotted symbols like "Bullish Close" and "Bearish Close" provide visual signals of key price actions, useful for timing entry or exit points.
Practical use Example
Scenario: The market is consolidating, and you see alternating green and red bars.
Action: Wait for a consistent sequence of green bars (buy pressure) along with a green background (uptrend) to consider going long, although you can go long without having a green background, the background adds confirmation layer.
Scenario: The market has several bearish closes (red ▼ symbols) accompanied by increasing volume.
Action: This could indicate strong selling pressure. If the background also turns red, it might be a good time to exit long positions or consider shorting.
Higher timeframe pressure and volume: Another way to use the indicator is to check buy/sell volume and pressure of the higher timeframe say weekly or daily or any timeframe you consider higher, once you’ve identified or feel confident in which direction the bar is going along with the full picture of trend, you can go to the lower timeframe and wait for it to sync with the higher timeframe to consider a long or a short. It is also easier to see when markets sync up by also applying the Enhanced Pressure MTF Screener which works in companion to this indicator.
Visual Cues and Interpretation
Combined Pressure Plot: The green and red column plot at the bottom of the chart represents the dominance between buying and selling. Tall green bars signify strong buying, while tall red bars indicate selling dominance.
Trend Background: Helps visualize the overall direction without manually drawing trend lines. When the background turns green, it generally indicates that the shorter-term moving average has crossed above the longer-term average—a sign of a bullish trend.
To Summarize shortly
The Enhanced Buy/Sell Pressure, Volume, and Trend Bar Analysis Indicator is an advanced but simple tool designed to help traders visually understand market dynamics. It combines different aspects of market analysis of candle pressure from buyers and sellers, volume confirmation, and trend identification into a single view, which can assist both new and experienced traders in making informed trading decisions.
This indicator:
Saves time by simplifying market analysis.
Provides clear visual cues for buy/sell pressure, volume, and trend.
Offers customizable settings to suit individual trading styles.
Always, I am happy to share my creations with you all for free. If you guys have cool ideas you would like to share, or suggestions for improvements the comment is below and I hope this overview gave an idea of how to use the indicator :D
ICT Setup 02 [TradingFinder] Breaker Blocks + Reversal Candles🔵 Introduction
The "Breaker Block" concept, widely utilized in ICT (Inner Circle Trader) technical analysis, is a crucial tool for identifying reversal points and significant market shifts. Originating from the "Order Block" concept, Breaker Blocks help traders pinpoint support and resistance levels. These blocks are essential for understanding market trends and recognizing optimal entry and exit points.
A Breaker Block is essentially a failed Order Block that changes its role when price action breaks through it. When an Order Block fails to hold as a support or resistance level, it reverses its function, becoming a Breaker Block.
There are two primary types : Bullish Breaker Blocks and Bearish Breaker Blocks. These Breaker Blocks align with the prevailing market trend and indicate potential entry points after a liquidity sweep or a shift in market structure.
Understanding and applying the Breaker Block strategy enables traders to capitalize on the behavior of institutional investors, enhancing their trading outcomes.
Bullish Setup :
Bearish Setup :
🔵 How to Use
The ICT Setup 02 indicator designed to automate the identification of Bullish and Bearish Breaker Blocks. This tool enables traders to easily spot these blocks on a chart and utilize them for entering or exiting trades. Below is a breakdown of how to use this indicator in both bullish and bearish setups.
🟣 Bullish Breaker Block Setup
A Bullish Breaker Block setup is identified in an uptrend, where it serves as a potential entry point. This setup occurs when a Bearish Order Block fails and the price moves above the high of that Order Block. In this scenario, the previously bearish Order Block turns into a Bullish Breaker Block, which now acts as a support level for the price.
To trade a Bullish Breaker Block, wait for the price to retest this newly formed support level. Confirmation of the uptrend can be achieved by analyzing lower time frames for further market structure shifts or other bullish indicators.
A successful retest of the Bullish Breaker Block provides a high-probability entry point for a long trade, as it signals institutional support. Traders often place their stop-loss below the low of the Breaker Block zone to minimize risk.
🟣 Bearish Breaker Block Setup
A Bearish Breaker Block setup, conversely, is used in a downtrend to identify potential sell opportunities. This setup forms when a Bullish Order Block fails, and the price moves below the low of that Order Block.
Once this Order Block is broken, it reverses its role and becomes a Bearish Breaker Block, providing resistance to the price as it pushes downward. For a Bearish Breaker Block trade, wait for the price to retest this resistance level.
A confirmation of the downtrend, such as a market structure shift on a lower time frame or additional bearish signals, strengthens the setup. The Bearish Breaker Block retest provides an opportunity to enter a short position, with a stop-loss placed just above the high of the Breaker Block zone.
🔵 Settings
Pivot Period : This setting controls the look-back period used to identify pivot points that contribute to the detection of Order Blocks. A higher period captures longer-term pivots, while a lower period focuses on more recent price action. Adjusting this parameter allows traders to fine-tune the indicator to match their trading time frame.
Breaker Block Validity Period : This setting defines how long a Breaker Block remains valid based on the number of bars elapsed since its formation. Increasing the validity period keeps Breaker Blocks active for a longer duration, which can be useful for higher time frame analysis.
Mitigation Level BB : This option lets traders choose the level of the Order Block at which the price is expected to react. Options like "Proximal," "50% OB," and "Distal" adjust the zone where a reaction may occur, offering flexibility in setting up the entry and stop-loss levels.
Breaker Block Refinement : The refinement option refines the Breaker Block zone to display a more precise range for aggressive or defensive trading approaches. The "Aggressive" mode provides a tighter range for risk-tolerant traders, while the "Defensive" mode expands the zone for those with a more conservative approach.
🔵 Conclusion
The Breaker Block indicator provides traders with a sophisticated tool for identifying key reversal zones in the market. By leveraging Breaker Blocks, traders can gain insights into institutional order flow and predict critical support and resistance levels.
Using Breaker Blocks in conjunction with other ICT concepts, like Fair Value Gaps or liquidity sweeps, enhances the reliability of trading signals. This indicator empowers traders to make informed decisions, aligning their trades with institutional moves in the market.
As with any trading strategy, it is crucial to incorporate proper risk management, using stop-losses and position sizing to minimize potential losses. The Breaker Block strategy, when applied with discipline and thorough analysis, serves as a powerful addition to any trader’s toolkit.
Sequence Waves [OmegaTools]the sequence waves indicator, developed by omegatools, is a multi-functional tool designed to detect trends, sequences, and potential reversal signals based on price movements and volume. this indicator has two main modes, "trend" and "sequence," which determine how the indicator calculates directional changes. additional enhancements in this version include reversal signals, allowing users to identify potential long and short opportunities with specific entry cues.
input parameters
mode (mode): chooses the calculation basis for directional movement.
- "trend": uses a midline calculated from the highest high and lowest low over the "trend mode length" period to assess if the price is in an upward or downward trend.
- "sequence": compares the current price to the closing price of the previous "sequence mode length" period to detect shifts in direction.
counter mode (modec): sets whether the counter increments by a fixed amount (1 or -1) or the volume of the bar, impacting the indicator’s sensitivity.
- "fixed": increments or decrements the counter by 1.
- "volume": increments or decrements based on the period’s volume, making the indicator more responsive to high-volume periods.
percentile length (lntp): defines the lookback period for calculating overbought and oversold thresholds using a percentile method. shorter lengths make ob/os levels more reactive.
sensitivity (sens): controls the percentile-based ob/os thresholds, ranging from 10 to 100. higher values narrow ob/os zones, while lower values widen them, impacting signal frequency.
trend mode length (lnt1): sets the period length for midline calculation in trend mode, defaulting to 21. longer periods smooth the midline for detecting major trends.
sequence mode length (lnt2): sets the lookback period in sequence mode, with a default of 4. shorter lengths capture more frequent directional changes, while longer lengths smooth signals.
visual colors:
- up color (upc): sets the color for upward movements.
- down color (dnc): sets the color for downward movements.
calculation logic
midline calculation: in trend mode, a midline is derived from the average of the highest high and lowest low over the "trend mode length" period, acting as a reference to detect upward or downward movements.
counter calculation:
- in trend mode, if the close price is above the midline, the counter increases (or volume if volume mode is selected). it decreases when the price is below.
- in sequence mode, the counter increases if the close is above the closing price from "sequence mode length" periods ago and decreases if below.
the counter resets to zero on direction changes, creating clear directional transitions.
overbought/oversold percentiles: separate arrays track the counter’s values each time the direction changes, creating historical up and down values. ob and os thresholds are dynamically determined based on these arrays, with sizes limited by the percentile length and sensitivity inputs.
reversal signals: two new variables, "long" and "short," detect potential reversal points when the counter crosses specific thresholds:
- long: a long signal is generated when the counter switches to positive and exceeds the down percentile.
- short: a short signal is triggered when the counter switches to negative and exceeds the up percentile.
visual and display elements
counter plot: plots the counter value on the chart with color-coded columns, making it easy to spot directional momentum.
up and down percentiles: displays overbought (up percentile) and oversold (down percentile) thresholds to identify potential reversal zones.
regime background: the background color changes based on market regime:
- bullish (up percentile > down percentile): greenish background.
- bearish (down percentile > up percentile): reddish background.
- neutral (both percentiles equal): grayish background.
reversal signals: plotted as small triangles on the chart for visual confirmation of potential long (triangle up) and short (triangle down) reversal signals.
obs background: changes color when the counter exceeds ob or os thresholds, creating a visual cue for extreme market conditions:
- overbought: background changes to a faint down color.
- oversold: background changes to a faint up color.
status table: displayed on the right side of the chart, providing real-time status information:
- status: shows "overbought," "oversold," "long," "short," or "none" based on the current counter position.
- regime: indicates whether the market is in a "bullish," "bearish," or "neutral" state based on the percentile comparison.
- percentile up/down: displays the current up and down percentiles for quick reference.
how to use the indicator
trend following: in trend mode, use the midline-based counter to gauge if the market is in an uptrend (positive counter) or downtrend (negative counter).
reversal detection: the ob/os thresholds assist in identifying potential reversal points. when the counter exceeds the up percentile, it may indicate an overbought state, suggesting a bearish reversal. similarly, dropping below the down percentile may indicate an oversold state, suggesting a bullish reversal.
entry signals: use the long and short reversal signals for potential entry points, particularly in trending or range-bound markets. these signals are indicated by up and down triangles.
sequence trading: in sequence mode, the indicator tracks shorter-term directional shifts, making it suitable for detecting smaller momentum patterns based on recent price comparisons.
volume sensitivity: selecting volume mode enhances sensitivity to high-volume moves, allowing it to detect stronger market activity in both trend and sequence modes.
the sequence waves indicator is suited to both short-term and long-term traders. it allows for detailed trend analysis, reversal detection, and dynamic ob/os signals. the inclusion of visual reversal cues makes it a flexible tool adaptable to a variety of trading strategies.
Arshtiq - Multi-Timeframe Trend StrategyMulti-Timeframe Setup:
The script uses two distinct timeframes: a higher (daily) timeframe for identifying the trend and a lower (hourly) timeframe for making trades. This combination allows the script to follow the larger trend while timing entries and exits with more precision on a shorter timeframe.
Moving Averages Calculation:
higher_ma: The 20-period Simple Moving Average (SMA) calculated based on the daily timeframe. This average gives a sense of the larger trend direction.
lower_ma: The 20-period SMA calculated on the hourly (current) timeframe, providing a dynamic level for detecting entry and exit points within the broader trend.
Trend Identification:
Bullish Trend: The script determines that a bullish trend is present if the current price is above the daily moving average (higher_ma).
Bearish Trend: Similarly, a bearish trend is identified when the current price is below this daily moving average.
Trade Signals:
Buy Signal: A buy signal is generated when the price on the hourly chart crosses above the hourly 20-period MA, but only if the higher (daily) timeframe trend is bullish. This ensures that buy trades align with the larger upward trend.
Sell Signal: A sell signal is generated when the price on the hourly chart crosses below the hourly 20-period MA, but only if the daily trend is bearish. This ensures that sell trades are consistent with the broader downtrend.
Plotting and Visual Cues:
Higher Timeframe MA: The daily 20-period moving average is plotted in red to help visualize the long-term trend.
Buy and Sell Signals: Buy signals appear as green labels below the price bars with the text "BUY," while sell signals appear as red labels above the bars with the text "SELL."
Background Coloring: The background changes color based on the identified trend for easier trend recognition:
Green (with transparency) when the daily trend is bullish.
Red (with transparency) when the daily trend is bearish.
