Line StratThis indicator provides a comprehensive visualization of key price levels and trends.
It plots lines for the premarket high and low, prior day high and low, current day high and low, and the market open, each with corresponding labels displayed at the current bar for easy reference.
It features six customizable moving average (MA) lines, with options to switch between EMA, SMA, WMA, VWMA, and HMA.
The indicator also includes the Volume Weighted Average Price (VWAP), providing a dynamic benchmark for price activity throughout the session.
All lines and moving averages are clearly labeled at the current bar for enhanced clarity.
Точки разворота и уровни
Bitcoin Reversal PredictorOverview
This indicator displays two lines that, when they cross, signal a potential reversal in Bitcoin's price trend. Historically, the high or low of a bull market cycle often occurs near the moment these lines intersect. The lines consist of an Exponential Moving Average (EMA) and a logarithmic regression line fitted to all of Bitcoin's historical data.
Inspiration
The inspiration for this indicator came from the PI Cycle Top indicator, which has accurately predicted past bull market peaks. However, I believe the PI Cycle Top indicator may not be as effective in the future. In that indicator, two lines cross to mark the top, but the extent of the cross has been diminishing over time. This was especially noticeable in the 2021 cycle, where the lines barely crossed. Because of this, I created a new indicator that I think will continue to provide reliable reversal signals in the future.
How It Works
The logarithmic regression line is fitted to the Bitcoin (BTCUSD) chart using two key factors: the 'a' factor (slope) and the 'b' factor (intercept). This results in a steadily decreasing line. The EMA oscillates above and below this regression line. Each time the two lines cross, a vertical colored bar appears, indicating that Bitcoin's price momentum is likely to reverse.
Use Cases
- Price Bottoming:
Bitcoin often bottoms out when the EMA crosses below the logarithmic regression line.
- Price Topping:
In contrast, Bitcoin often peaks when the EMA crosses above the logarithmic regression line.
- Profitable Strategy:
Trading at the crossovers of these lines can be a profitable strategy, as these moments often signal significant price reversals.
Bitcoin Logarithmic Regression BandsOverview
This indicator displays logarithmic regression bands for Bitcoin. Logarithmic regression is a statistical method used to model data where growth slows down over time. I initially created these bands in 2019 using a spreadsheet, and later coded them in TradingView in 2021. Over time, the bands proved effective at capturing Bitcoin's bull market peaks and bear market lows. In 2024, I decided to share this indicator because I believe these logarithmic regression bands offer the best fit for the Bitcoin chart.
How It Works
The logarithmic regression lines are fitted to the Bitcoin (BTCUSD) chart using two key factors: the 'a' factor (slope) and the 'b' factor (intercept). The two lines in the upper and lower bands share the same 'a' factor, but I adjust the 'b' factor by 0.2 to more accurately capture the bull market peaks and bear market lows. The formula for logaritmic regression is 10^((a * ln) - b).
How to Use the Logarithmic Regression Bands
1. Lower Band (Support Band):
The two lines in the lower band create a potential support area for Bitcoin’s price. Historically, Bitcoin’s price has always found its lows within this band during past market cycles. When the price is within the lower band, it suggests that Bitcoin is undervalued and could be set for a rebound.
2. Upper Band (Resistance Band):
The two lines in the upper band create a potential resistance area for Bitcoin’s price. Bitcoin has consistently reached its highs in this band during previous market cycles. If the price is within the upper band, it indicates that Bitcoin is overvalued, and a potential price correction may be imminent.
Use Cases
- Price Bottoming:
Bitcoin tends to bottom out at the lower band before entering a prolonged bull market or a period of sideways movement.
- Price Topping:
In reverse, Bitcoin tends to top out at the upper band before entering a bear market phase.
- Profitable Strategy:
Buying at the lower band and selling at the upper band can be a profitable trading strategy, as these bands often indicate key price levels for Bitcoin’s market cycles.
Pivot High/Low [s3]This is a technical analysis tool that identifies significant price pivot points (highs and lows) in the market. It looks for both major and minor pivot points, which can help traders identify potential support and resistance levels, trend reversals, and breakout opportunities.
How Pivot Points Are Calculated:
The indicator uses a straightforward "higher than everything around it" or "lower than everything around it" approach:
For Pivot Highs:
- The indicator looks at a specific bar and compares it to bars before and after it
- For a major pivot high: It checks 50 bars to the left and 20 bars to the right
- If the bar's high price is higher than ALL bars within this range, it's marked as a pivot high
- Think of it like a mountain peak - it needs to be the highest point compared to everything around it
For Pivot Lows:
- Same concept but reversed - looking for valleys instead of peaks
- Checks the same ranges (50 left, 20 right)
- The bar's low price must be lower than ALL surrounding bars
- Like finding the bottom of a valley - it needs to be the lowest point in the area
Key Features:
1. Two types of pivot points:
- Major pivots (using longer lookback periods of 50 bars left, 20 bars right)
- Minor pivots (using half the lookback periods - 25 left, 10 right)
2. Visual elements:
- Triangle markers above/below bars for pivot points
- Dotted lines extending from pivot points
- Color coding: Green for lows (support), Red for highs (resistance)
- Major pivots are more prominent than minor pivots
3. Customizable alerts for:
- Formation of new pivot points
- Breakouts above/below pivot levels
Trading Applications:
1. Support and Resistance:
- Major pivot levels act as strong support (lows) and resistance (highs)
- Multiple touches of these levels increase their significance
- Minor pivots can indicate intermediate support/resistance levels
2. Trend Analysis:
- Higher highs and higher lows = Uptrend
- Lower highs and lower lows = Downtrend
- Breaking of major pivot levels can signal trend changes
3. Entry/Exit Signals:
- Long entries: When price bounces off major pivot lows
- Short entries: When price rejects from major pivot highs
- Take profits: At opposite pivot levels
- Stop losses: Just beyond the entry pivot level
4. Breakout Trading:
- Breaking above major pivot highs suggests bullish momentum
- Breaking below major pivot lows suggests bearish momentum
- Use the alert system to catch breakouts early
Settings Customization:
- Adjust lookback periods based on your timeframe
- Toggle visibility of markers and lines
- Customize colors for better visibility
- Enable/disable specific types of alerts
Risk Management Tips:
1. Don't rely solely on pivot points - combine with other indicators
2. Wait for confirmation of bounces/rejections before entering trades
3. Use proper position sizing based on stop loss placement
4. Consider market context and overall trend when trading pivot levels
This indicator is particularly useful for swing traders and position traders who focus on key market turning points and trend changes. It helps identify significant price levels where the market has previously shown reaction, making it valuable for both trend following and counter-trend strategies.
Swing Structure Scanner [LuxAlgo]The Swing Structure Scanner Indicator is a dashboard type indicator which displays a Consolidated "High/Low-Only" view of swing structure, with the capability to retrieve and display swing points from up to 6 different tickers and timeframes at once.
🔶 USAGE
This indicator displays swing structure data from up to 6 unique tickers or timeframes; Each graph represents the current swing structure retrieved from the requested chart/s.
Each swing graph displays the current live swing point positioning relative to the previous swing points. By analyzing the different formations, patterns can more easily be recognized and found across multiple tickers or timeframes at once.
This indicator serves as a nifty tool for confluence recognition, whether that's confluence throughout market tickers, or confluence through higher timeframes on the same ticker.
Alternatively, viewing the relative positioning of each swing point to each other, should give a clearer idea when higher lows or lower highs are formed. This can potentially indicate a newly forming trend, as well as serving as a warning to watch for breakouts.
The swing length can be changed to align with each individual's strategy, as well as a display look back can be adjusted to show more or less swing points at one time.
The display is fairly customizable, it is not fixed to 6 symbols at all times and can be minimized to only display the number of symbols needed; Additionally, the display can be set to vertical mode or horizontal(default) to utilize as needed.
Note: Hover over the swing point in the dashboard to get a readout of the exact price level of the swing point.
🔶 SETTINGS
Swing Length: Set the swing length for the structure calculations.
Swing Display Lookback: Sets the number of swing points (Pairs) to display in each Swing Graph display.
Symbols: Sets the Timeframe and Symbol for each Swing Graph.
Vertical Display: Display the Swing Graphs up and down, rather than side to side.
Scaling Factor: Scales the entire indicator up or down, to fit your needs.
Eroina Trend Reversal Indicator with ConfirmationsEroina Trend Reversal Indicator with Confirmations
Overview (English):
The Trend Reversal Indicator with Confirmations is designed to identify potential trend reversals by analyzing dynamic resistance and support levels. This script uses a robust confirmation system to reduce false signals, making it ideal for traders who seek disciplined, data-driven decisions.
Key Features:
• Dynamic Levels: Calculates resistance and support levels based on user-defined lengths.
• Breakout Confirmation: Confirms trend reversals by validating price action over a specified number of candles.
• Visual Cues: Displays “LONG” and “SHORT” signals directly on the chart, alongside resistance/support levels.
• Customizable Parameters: Adaptable to different timeframes and market conditions.
How It Works:
1. Resistance & Support Levels:
• Resistance: Calculated as the highest high over the last N bars.
• Support: Calculated as the lowest low over the last N bars.
2. Breakout Detection:
• A resistance breakout occurs when the price closes above the resistance level.
• A support breakout occurs when the price closes below the support level.
3. Confirmation Logic:
• Signals are validated only if the price remains above/below the levels for a user-defined number of candles.
4. Entry Signals:
• “LONG” signals indicate a confirmed breakout above resistance.
• “SHORT” signals indicate a confirmed breakdown below support.
Settings:
• Resistance Length: Defines the number of candles used to calculate resistance levels.
• Support Length: Defines the number of candles used to calculate support levels.
• Confirmation Candles: Specifies how many candles are required to confirm breakouts.
Usage:
This indicator is ideal for identifying trend reversals and optimizing entry points. Combine it with volume analysis or other technical indicators to enhance accuracy. For example:
• Use in conjunction with RSI to avoid overbought/oversold conditions.
• Combine with moving averages to confirm the trend direction.
Overview (Additional Language):
(Your additional language description can go here after English, e.g., Russian, Spanish, etc.)
TAPDA Hourly Open Lines (Candle Body Box)-What is TAPDA?
TAPDA (Time and Price Displacement Analysis) is based on the belief that markets are driven by algorithms that respond to key time-based price levels, such as session opens. Traders who follow TAPDA track these levels to anticipate price movements, reversals, and breakouts, aligning their strategies with the patterns left by these underlying algorithms. By plotting lines at specific hourly opens, the indicator allows traders to visualize where the market may react, providing a structured way to trade alongside the algorithmic flow.
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**Sauce Alert** "TAPDA levels essentially act like algorithmic support and resistance" By plotting these hourly opens, the TAPDA Hourly Open Lines indicator helps traders track where algorithms might engage with the market.
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-How It Works:
The indicator draws a "candle body box" at selected hours, marking the open and close prices to highlight price ranges at significant times. This creates dynamic zones that reflect market sentiment and structure throughout the day. TAPDA levels are commonly respected by price, making them useful for identifying potential entry points, stop placements, and trend reversals.
-Key Features:
Customizable Hour Levels – Enable or disable specific times to fit your trading approach.
Color & Label Control – Assign unique colors and labels to each hour for better visualization.
Line Extension – Project lines for up to 24 hours into the future to track key levels.
Dynamic Cleanup – Old lines automatically delete to maintain chart clarity.
Manual Time Offset – Adjust for broker or server time zone differences.
-Current Development:
This indicator is still in development, with further updates planned to enhance functionality and customization. If you find this script helpful, feel free to copy the code and stay tuned for new features and improvements!
Previous Week High & Low with middle lineDescription:
The Previous Week High & Low Indicator is a powerful tool designed to provide traders with key reference levels from the previous trading week. It dynamically calculates and plots the previous week's high, low, and midpoint levels directly on your chart, helping you identify critical support and resistance zones.
Features:
1. **Previous Week High and Low Lines**:
- The indicator displays the high and low prices of the previous trading week, allowing you to analyze price action relative to these levels.
- These lines are plotted as step lines, visible only during the active trading days (Monday to Friday), ensuring clean and uncluttered charts.
2. Midpoint Line:
- The midpoint between the previous week's high and low is calculated and displayed as a reference level.
- This white line can act as a psychological pivot point for market participants.
3. Customizable Display:
- You can toggle the visibility of the high and low lines using input options, tailoring the indicator to your preferences.
4. Precision and Aesthetics:
- The lines are plotted with precision and styled for clarity, using subtle transparency for an unobtrusive yet informative appearance.
Use Case:
- This indicator is ideal for traders who rely on historical price levels for planning entries, exits, or stop-loss placements.
- It works seamlessly with any timeframe and asset, making it versatile for various trading strategies.
How It Works:
- The indicator fetches the previous week's high and low prices using the weekly timeframe and "lookahead" mode to ensure these levels remain static after the week's close.
- The lines are plotted only on weekdays (Monday to Friday) to exclude weekend data, ensuring accuracy for markets that operate 24/5.
This tool simplifies your chart analysis and empowers you to make informed trading decisions based on historical price dynamics.
[Marmotte] Support & ResistanceDynamic Support/Resistance Indicator
Available on charts of all symbols, not just Bitcoin.
Timeframe
The chart time to base the support/resistance values on.
This value cannot be less than the current chart timeframe.
ex) Current chart timeframe = 15 minutes, option value = 60 (1 hour) O
ex) Current chart timeframe = 4 hours, option = 60 (1 hour) X
Mode
This is how support/resistance values are calculated.
The “Pivot” option takes the PivotHigh and PivotLow for a specific period of time (number of candles).
The “Normal” option is used to get the Highest and Lowest for a specific time period (number of candles).
Lookback Candle
When set to 20 and the “Pivot” option is selected, the highest price of the 20 candles before the specific candle is selected.
If set to 20 and the “Normal” option is selected, the highest price of the 20 candles before the current candle is selected.
Sensitivity
This option only applies when “General” is selected.
Different support/resistance values calculated based on sensitivity
Extract the reference high/low for the “Lookback Candle” in the selected “Timeframe” based on the “Mode”.
Compare the Bar Index (candle order) of the extracted reference high/low and divide the upside/downside (ex: up if the reference low came before the reference high, down if the reference high came before the reference low, etc.).
Now, based on the baseline high/low and up/down, calculate the , and plot them on the chart.
Updates the extracted values based on the “base value” when the reference high/low for the “calculation period (number of candles)” in the selected “chart time” changes.
The indicator is built with simple logic that automatically identifies tops and bottoms, and then calculates and plots the corresponding Fibonacci retracements and extensions.
Therefore, it is not recommended to trade blindly on the support/resistance plotted by the indicator.
The indicator can be used to enhance the ability of support-resistance lines or to reference support-resistance on longer time frames from shorter time frames. For example, you can set up a 4-hour support/resistance on a 15-minute timeframe. This way, you can see the support/resistance of a higher timeframe that looks like a pullback/recovery in the short term, but is more reliable and can be used as a reference for trading.
The recommended time frame is 4 hour.
Please note that this may not work properly on symbols with too small an amount (e.g. it does not work properly on symbols like 0.005$)
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동적 지지/저항선 인디케이터
비트코인뿐 아니라 모든 심볼의 차트에서 사용가능합니다.
차트 시간
지지/저항 값을 계산에 기본이 될 차트 시간입니다.
이 값은 현재 차트 타임프레임보다 작을 수 없습니다.
ex) 현재 차트 타임프레임 = 15분, 옵션값 = 60(1시간) O
ex) 현재 차트 타임프레임 = 4시간, 옵션값 = 60(1시간) X
베이스 값
지지/저항 값을 계산하는 방법입니다.
"피봇고저" 옵션은 특정 기간(캔들 수)의 PivotHigh, PivotLow를 구하여 사용합니다.
"일반고저" 옵션은 특정 기간(캔들 수)의Highest, Lowest를 구하여 사용합니다.
계산 기간
20으로 설정 후 "Pivot" 옵션을 선택한 경우, 특정 캔들 이전 20개의 캔들 중 해당 캔들이 제일 고가가 높을 때 선택
20으로 설정 후 "Normal" 옵션을 선택한 경우, 현재 캔들 이전 20개의 캔들 중 가장 고가 선택
민감도
해당 옵션은 "Normal"를 선택했을때만 적용됩니다.
민감도에 따라 계산되는 지지/저항 값이 다름
선택한 "차트 시간"에서 "계산 기간(캔들 수)" 동안의 기준 고가/저가를 "모드"에 기반하여 추출합니다.
추출된 기준 고가/저가의 Bar Index(캔들 순서)를 비교하여 상승/하락을 나눕니다. (ex. 기준 저가가 기준 고가보다 먼저 나왔다면 상승, 기준 고가가 기준 저가보다 먼저 나왔다면 하락)
이제 기준 고가/저가와 상승/하락을 토대로 , 을 계산하여 차트에 그립니다.
선택한 "차트 시간"에서 "계산 기간(캔들 수)" 동안의 기준 고가/저가를 "모드"에 기반하여 추출한 값이 변경될 때 업데이트 됩니다.
해당 지표는 고점과 저점을 자동으로 식별하여 상승/하락을 파악 후 그에 맞는 피보나치 되돌림 및 확장을 계산하여 그려주는 간단한 로직으로 만들어졌습니다.
그렇기에 해당 지표에서 그려주는 지지/저항을 맹목적으로 믿고 트레이딩에 임하는 것은 권장하지 않습니다.
해당 지표는 지지저항선의 능력을 키우거나 단기 프레임에서 장기 프레임의 지지저항을 참고하는데 사용할 수 있습니다. 예를 들어서 15분 타임프레임에서 4시간 지지/저항을 설정하여 확인할 수 있습니다. 이렇게되면 단기적으로는 하락/상승처럼 보이지만, 비교적 신뢰도가 더 높은 상위 타임프레임의 지지/저항을 확인하여 매매에 참고로 사용할 수 있습니다.
권장 타임 프레임은 1시간 입니다.
너무 금액이 작은 심볼에선 제대로 동작하지 않을 수 있습니다. (ex. 0.005$와 같은 심볼에서는 제대로 작동하지 않음)
BK MA Horizontal Lines
Indicator Description:
I am incredibly proud and excited to share my first indicator with the TradingView community! This tool has been instrumental in helping me optimize my positioning and maximize my trades.
Moving Averages (MAs) are among the top three most crucial indicators for trading, and I believe that the Daily, Weekly, and Monthly MAs are especially critical. The way I’ve designed this indicator allows you to combine MAs from your Daily timeframe with one or two from the Weekly or Monthly timeframes, depending on what is most relevant for the specific product or timeframe you’re analyzing.
For optimal use, I recommend:
Spacing your chart about 11 spaces from the right side.
Setting the Labels at 10 in the indicator configuration.
Keeping the line thickness at size 1, while using size 2 for my other indicator, "BK BB Horizontal Lines", which follows a similar concept but applies to Bollinger Bands.
If you find success with this indicator, I kindly ask that you give back in some way through acts of philanthropy, helping others in the best way you see fit.
Good luck to everyone, and always remember: God gives us everything. May all the glory go to the Almighty!
Consecutive Candles DevisSoHi Traders !!!
Level Calculation:
50% and 23.6% Fibonacci levels are calculated based on the open and close of the previous candles.
Consecutive Candle Check:
For an uptrend: Each candle's low must not touch the 50% levels of the previous candles.
For a downtrend: Each candle's high must not touch the 50% levels of the previous candles.
Pullback Level:
When a long signal is triggered, the current candle's low is recorded as a pullback level.
When a short signal is triggered, the current candle's high is recorded as a pullback level.
Breakout and Signal Generation:
If the price breaks above the calculated level, a long signal is generated; if it breaks below, a short signal is generated.
These signals are visualized on the chart.
Continuity:
The system checks the last signal to ensure the validity of new signals, maintaining the consistency of consecutive signals.
GROK - 40 Day High BreakoutTitle: GROK - Customizable High Breakout Detector
To scan base breakout with Pine Screener
Description:
This Pine Script indicator identifies high breakout patterns based on a user-defined lookback period. By default, it checks for a breakout of the 40-day high, but the period can be adjusted to suit your trading strategy. Key features include:
Custom Lookback Period: Easily modify the number of days for high breakout detection. Lookback period is length of base you want to scan using pine screener.
Visual Alerts: Displays a green triangle above the price bar when a breakout is detected.
Alert Conditions: Built-in alert notifications for automated breakout detection.
Screener Compatibility: Plots breakout signals as a histogram for screener use.
This script is ideal for traders looking to identify strong breakout patterns and incorporate them into their strategies.
How to Use:
Adjust the lookback period in the settings to match your desired breakout criteria.
Add alerts for automated notifications when a breakout is detected.
Use the visual markers and histogram to analyze breakout patterns on your chart.
Intelligent Support & Resistance Lines (MTF)This script automatically detects and updates key Support & Resistance (S/R) levels using a higher timeframe (MTF) approach. By leveraging volume confirmation, levels are only identified when significant volume (relative to the SMA of volume) appears. Each level is drawn horizontally in real time, and whenever the market breaks above a resistance level (and retests it), the script automatically converts that resistance into support. The opposite occurs if the market breaks below a support level.
Key Features:
Multi-Timeframe (MTF) Data
Select a higher timeframe for more robust S/R calculations.
The script fetches High, Low, Volume, and SMA of Volume from the chosen timeframe.
Automatic Role Reversal
Resistance becomes Support if a breakout retest occurs.
Support becomes Resistance if a breakdown retest occurs.
Dynamic Line Width & Labeling
Each S/R line’s thickness increases with additional touches, making frequently tested levels easier to spot.
Labels automatically display the number of touches (e.g., “R 3” or “S 2”) and can have adjustable text size.
Volume Threshold
Only significant pivots (where volume exceeds a specified multiplier of average volume) are plotted, reducing noise.
Horizontal Offset for Clarity
Lines are drawn with timestamps instead of bar_index, ensuring that old levels remain visible without chart limitations.
Adjustable Maximum Levels
Maintain a clean chart by limiting how many S/R lines remain at once.
How It Works:
Pivot Detection: The script identifies swing highs and lows from the higher timeframe (timeframeSR).
Volume Check: Only pivots with volume ≥ (SMA Volume * volumeThreshold) qualify.
Line Creation & Updates: New lines are drawn at these pivots, labeled “R #” or “S #,” indicating how many times they’ve been touched.
Role Reversal: If price breaks above a resistance and retests it from above, that line is removed from the resistance array and re-created in the support array (and vice versa).
Inputs:
Timeframe for S/R: Choose the higher timeframe for S/R calculations.
Swing Length: Number of bars to consider in a pivot calculation.
Minimum Touches: Minimum required touches before drawing or updating a level.
Volume Threshold (Multiplier): Determines how much volume (relative to SMA) is needed to confirm a pivot.
Maximum Number of Levels: Caps how many S/R lines can be shown at once.
Color for Resistance & Color for Support: Customize your preferred colors for lines and labels.
Label Size: Select from "tiny", "small", "normal", "large", or "huge" to resize the labels.
Disclaimer:
This script is intended for educational purposes and should not be interpreted as financial or investment advice. Always conduct your own research or consult a qualified professional before making trading decisions.
Pivot PointsPivot Points Indicator
The Pivot Points indicator highlights areas on the chart where candles close in opposite colors. These points occur when the price shifts from bullish to bearish, or vice versa, indicating potential reversals or continuation patterns. These points are more easily seen on a line chart and represent areas where the price changes direction to create peak formations.
Foundational Concepts
Before diving into the indicator, it’s important to understand a few key concepts:
When price is trending upward, it creates higher highs and higher lows. Each high or low acts as a pivot point. In an uptrend, the price is more likely to break the previous high (pivot point) and continue higher. You can enter a buy trade when the price breaks the previous high, anticipating the continuation of the trend.
When price is trending downward, it creates lower lows and lower highs. Each high or low is also a pivot point. In a downtrend, the price is more likely to break the previous low (pivot point) and continue lower. You can enter a sell trade when the price breaks the previous low, anticipating the continuation of the trend.
For reversal trades, it’s helpful to be familiar with chart patterns like double tops, double bottoms, and head and shoulders. The Pivot Points indicator can assist in identifying these patterns, helping you determine entry points, as well as where to place your stop loss.
Recommended Setup
It’s recommended to have two charts open side by side: one displaying a line chart and the other showing a candlestick chart, with the Pivot Points indicator applied to both. This setup allows you to easily identify the market structure and price action as it approaches these levels. You can also add a 20-period Simple Moving Average (SMA) to both charts to help identify the overall trend. Additionally, consider adding the Relative Strength Index (RSI) to the line chart to confirm overbought or oversold conditions.
This approach can be used on any timeframe.
Contributing
If you have suggestions, improvements, or bug fixes, I encourage you to submit pull requests. Collaboration helps make the indicator more versatile and useful for everyone.
Disclaimer
Any trading decisions you make are entirely your responsibility.
The MetaTrader 5 version of this indicator is available on my GitHub repository: roshaneforde/pivot-points-indicator
First day candle high and low of monthThis script is designed to mark the high and low levels of the first candle of each month on the chart. These levels are often considered significant support and resistance zones, as they can represent key liquidity points in the market.
The idea behind this tool is based on the observation that the low of the first monthly candle can act as a critical support level, especially during a bullish market trend. If the price breaks below this low in a bull market, it may indicate a potential manipulation or stop-loss hunting rather than a genuine shift in trend. Similarly, the high of the first monthly candle may serve as a key resistance level, particularly in consolidating or range-bound markets.
By dynamically plotting these levels, the script provides traders with valuable insights into potential liquidity zones and significant market reactions. It allows for customizable line colors and lengths, making it adaptable to various trading styles and preferences.
This tool is particularly useful for traders who wish to align their strategies with institutional market behaviors, as it highlights areas where liquidity is likely to be targeted. Use it as part of your broader analysis to identify potential trade setups, manage risk effectively, and understand market dynamics more comprehensively.
RSI BB StdDev SignalOverview
The RSI BB StdDev Signal Indicator is a powerful tool designed to enhance your trading strategy by combining the Relative Strength Index (RSI) with Bollinger Bands (BB). This unique combination allows traders to identify potential buy and sell signals more accurately by leveraging the strengths of both indicators. The RSI helps in identifying overbought and oversold conditions, while the Bollinger Bands provide a dynamic range to assess volatility and potential price reversals.
Key Features
— RSI Calculation: The indicator calculates the RSI based on user-defined parameters, allowing for customization to fit different trading styles.
— Bollinger Bands Integration: The RSI values are smoothed using a moving average, and Bollinger Bands are applied to this smoothed RSI to generate buy and sell signals.
— Divergence Detection: The indicator includes an optional feature to detect and alert on bullish and bearish divergences between the RSI and price action.
— Customizable Alerts: Users can set up alerts for buy and sell signals, as well as for divergences, ensuring they never miss a trading opportunity.
— Visual Aids: The indicator plots the RSI, Bollinger Bands, and signals on the chart, making it easy to visualize and interpret the data.
How It Works
1. RSI Calculation:
— The RSI is calculated using the change in the source input (default is close price) over a specified period.
— The RSI values are then plotted on the chart with customizable overbought and oversold levels.
2. Smoothing and Bollinger Bands:
— The RSI values are smoothed using a moving average (SMA, EMA, SMMA, WMA, VWMA) selected by the user.
— Bollinger Bands are applied to the smoothed RSI to create dynamic upper and lower bands.
3. Signal Generation:
—Buy signals are generated when the RSI crosses above the lower Bollinger Band.
—Sell signals are generated when the RSI crosses below the upper Bollinger Band.
—These signals are plotted on both the RSI pane and the main price chart for easy reference.
4. Divergence Detection:
— The indicator can detect and alert on regular bullish and bearish divergences between the RSI and price action.
— Bullish divergences occur when the price makes a lower low, but the RSI makes a higher low.
— Bearish divergences occur when the price makes a higher high, but the RSI makes a lower high.
Usage
1. Setting Up:
— Add the indicator to your TradingView chart.
— Customize the RSI length, source, and other parameters in the settings panel.
— Enable or disable the divergence detection based on your trading strategy.
2. Interpreting Signals:
— Use the buy and sell signals generated by the RSI crossing the Bollinger Bands as potential entry and exit points.
— Pay attention to divergences for additional confirmation of trend reversals.
3. Alerts:
— Set up alerts for buy and sell signals to receive notifications in real-time.
— Enable divergence alerts to be notified of potential trend reversals.
Conclusion
The RSI BB StdDev Signal Indicator is a comprehensive tool that combines the strengths of the RSI and Bollinger Bands to provide traders with more accurate and reliable signals. Whether you are a beginner or an experienced trader, this indicator can enhance your trading strategy by offering clear visual cues and customizable alerts.
Note
This indicator is provided with open-source code, allowing users to understand its logic and customize it further if needed. The detailed description and customizable settings ensure that traders of all levels can benefit from its unique features.
Support and Resistance Non-Repainting [AlgoAlpha]Elevate your technical analysis with the Non-Repainting Support and Resistance indicator from AlgoAlpha. Designed for traders who value precision, this tool highlights key support and resistance zones without repainting, ensuring reliable signals for better market decisions.
Key Features
🔍 Concise Zones: Identifies critical levels in real-time without repainting.
🖍 Customizable Appearance: Choose your preferred colors for bullish and bearish zones.
📏 Pivot Sensitivity Settings: Adjust the lookback period to fit different market conditions.
🔔 Visual Alerts: Highlights zones on your chart with clear, dynamic boxes and lines.
How to Use
Add the Indicator : Add it to your favorites chart by clicking the star icon. Adjust the lookback period, max zone duration, and colors to match your strategy.
Analyze the Chart : Look for zones where prices frequently react, indicating strong support or resistance.
Set Alerts : Enable notifications for new zone formations and zone invalidations, ensuring you never miss critical market moves.
How It Works
The indicator detects pivot highs and lows using a specified lookback period. When a pivot is confirmed, it draws corresponding support or resistance zones using TradingView’s built-in drawing tools. These zones extend until price breaks through them or they expire based on a maximum allowed duration. The indicator continuously checks if price interacts with any active zones and adjusts accordingly, ensuring accurate and real-time visualization.
MACD Buy/Sell Labels + Barcolor👉 MACD Buy/Sell Labels + Barcolor
This advanced indicator combines the functionality of the MACD (Moving Average Convergence Divergence) with intuitive and customizable visual features, making it ideal for traders looking for an efficient tool to confirm buy and sell signals across any market.
It is based on the logical interpretation of a modified oscillator to improve its performance and simplify its usage. The indicator integrates seamlessly into the chart, offering an intuitive and easy-to-understand experience.
📍 Labels (Buy/Sell):
The signals are generated automatically by crossovers between the Fast EMA and Slow EMA of the Gaussian MACD. It comes with a default configuration designed to favor clean crossovers while avoiding false signals.
🧪 Barcolor:
The color of the candles dynamically changes according to the range of the Gaussian MACD histogram. This allows for a clear visualization of the MACD's status without needing to display the full oscillator. This feature integrates with the labels, as explained in the "Interpretation" section, to significantly increase their probability of success. Both the ranges and colors are fully customizable through the settings panel.
⚙️ Settings:
All aspects of the indicator can be customized:
1-MACD: Like a standard MACD, you can adjust the EMA lengths and the signal smoothing to adapt it to your trading style and the markets you trade.
2-Barcolor: The predefined values highlight extreme levels for proper interpretation, as explained in the "Interpretation" section. However, intermediate levels are also included in case you want to implement them in your strategy. You can adjust these values based on what you consider "overbought" or "oversold." This flexibility allows adaptation to various assets, as oscillator behavior varies across different instruments.
3-Buy/Sell Filter:
The filter settings allow you to further refine the signals. The default values of -70 (Buy Filter) and 80 (Sell Filter) work best for me, but you can adjust them as you see fit. Keep in mind:
-Higher distance from zero: More filtered signals (fewer, but higher quality).
-Closer to zero: Less filtered signals (more frequent, but with increased risk of false signals).
🤔 Interpretation:
As mentioned earlier, this follows the classic interpretation of a MACD oscillator: overbought/oversold levels combined with crossovers. However, the barcolor variable is what makes this indicator truly unique.
With barcolor, you can detect potential divergences and confirm them using the labels. When the oscillator reaches an extreme zone, barcolor provides a visual alert. Once the oscillator exits this zone, the candles revert to their normal color. This signals that the oscillator is dropping. If the price continues rising, this divergence can indicate an anomaly in the market. Waiting for confirmation from the label increases the probability of successful trades while detecting unusual market deviations without even looking at the oscillator.
Purpose:
This indicator is designed to help traders simplify the interpretation of the MACD. It can be used on any timeframe, but it was primarily tested using technical analysis concepts and basic liquidity principles. Its effectiveness improves significantly if you understand broader market dynamics.
Disclaimer:
This is purely an analytical tool and should NOT be considered as trading signals. Perform your own research and make decisions based solely on your responsibility. Thank you!
BKLevelsThis displays levels from a text input, levels from certain times on the previous day, and high/low/close from previous day. The levels are drawn for the date in the first line of the text input. Newlines are required between each level
Example text input:
2024-12-17
SPY,606,5,1,Lower Hvol Range,FIRM
SPY,611,1,1,Last 20K CBlock,FIRM
SPY,600,2,1,Last 20K PBlock,FIRM
SPX,6085,1,1,HvolC,FIRM
SPX,6080,2,1,HvolP,FIRM
SPX,6095,3,1,Upper PDVR,FIRM
SPX,6060,3,1,Lower PDVR,FIRM
For each line, the format is ,,,,,
For color, there are 9 possible user- configurable colors- so you can input numbers 1 through 9
For line style, the possible inputs are:
"FIRM" -> solid line
"SHORT_DASH" -> dotted line
"MEDIUM_DASH" -> dashed line
"LONG_DASH" -> dashed line
Fibonacci Time-Price Zones🟩 Fibonacci Time-Price Zones is a chart visualization tool that combines Fibonacci ratios with time-based and price-based geometry to analyze market behavior. Unlike typical Fibonacci indicators that focus solely on horizontal price levels, this indicator incorporates time into the analysis, providing a more dynamic perspective on price action.
The indicator offers multiple ways to visualize Fibonacci relationships. Drawing segmented circles creates a unique perspective on price action by incorporating time into the analysis. These segmented circles, similar to TradingView's built-in Fibonacci Circles, are derived from Fibonacci time and price levels, allowing traders to identify potential turning points based on the dynamic interaction between price and time.
As another distinct visualization method, the indicator incorporates orthogonal patterns, created by the intersection of horizontal and vertical Fibonacci levels. These intersections form L-shaped connections on the chart, derived from key Fibonacci price and time intervals, highlighting potential areas of support or resistance at specific points in time.
In addition to these geometric approaches, another option is sloped lines, which project Fibonacci levels that account for both time and price along the trendline. These projections derive their angles from the interplay between Fibonacci price levels and Fibonacci time intervals, creating dynamic zones on the chart. The slope of these lines reflects the direction and angle of the trend, providing a visual representation of price alignment with market direction, while maintaining the time-price relationship unique to this indicator
The indicator also includes horizontal Fibonacci levels similar to traditional retracement and extension tools. However, unlike standard tools, traders can display retracement levels, extension levels, or both simultaneously from a single instance of the indicator. These horizontal levels maintain consistency with the chosen visualization method, automatically scaling and adapting whether used with circles, orthogonal patterns, or slope-based analysis.
By combining these distinct methods—circles, orthogonal patterns, sloped projections, and horizontal levels—the indicator provides a comprehensive approach to Fibonacci analysis based on both time and price relationships. Each visualization method offers a unique perspective on market structure while maintaining the core principle of time-price interaction.
⭕ THEORY AND CONCEPT ⭕
While traditional Fibonacci tools excel at identifying potential support and resistance levels through price-based ratios (0.236, 0.382, 0.618), they do not incorporate the dimension of time in market analysis. Extensions and retracements effectively measure price relationships within trends, yet markets move through both price and time dimensions simultaneously.
Fibonacci circles represent an evolution in technical analysis by incorporating time intervals alongside price levels. Based on the mathematical principle that markets often move in circular patterns proportional to Fibonacci ratios, these circles project potential support and resistance zones as partial circles radiating from significant price points. However, traditional circle-based tools can create visual complexity that obscures key market relationships. The integration of time into Fibonacci analysis reveals how price movements often respect both temporal and price-based ratios, suggesting a deeper geometric structure to market behavior.
The Fibonacci Time-Price Zones indicator advances these concepts by providing multiple geometric approaches to visualize time-price relationships. Each shape option—circles, orthogonal patterns, slopes, and horizontal levels—represents a different mathematical perspective on how Fibonacci ratios manifest across both dimensions. This multi-faceted approach allows traders to observe how price responds to Fibonacci-based zones that account for both time and price movements, potentially revealing market structure that purely price-based tools might miss.
Shape Options
The indicator employs four distinct geometric approaches to analyze Fibonacci relationships across time and price dimensions:
Circular : Represents the cyclical nature of market movements through partial circles, where each radius is scaled by Fibonacci ratios incorporating both time and price components. This geometry suggests market movements may follow proportional circular paths from significant pivot points, reflecting the harmonic relationship between time and price.
Orthogonal : Constructs L-shaped patterns that separate the time and price components of Fibonacci relationships. The horizontal component represents price levels, while the vertical component measures time intervals, allowing analysis of how these dimensions interact independently at key market points.
Sloped : Projects Fibonacci levels along the prevailing trend, incorporating both time and price in the angle of projection. This approach suggests that support and resistance levels may maintain their relationship to price while adjusting to the temporal flow of the market.
Horizontal : Provides traditional static Fibonacci levels that serve as a reference point for comparing price-only analysis with the dynamic time-price relationships shown in the other three shapes. This baseline approach allows traders to evaluate how the incorporation of time dimension enhances or modifies traditional Fibonacci analysis.
By combining these geometric approaches, the Fibonacci Time-Price Zones indicator creates a comprehensive analytical framework that bridges traditional and advanced Fibonacci analysis. The horizontal levels serve as familiar reference points, while the dynamic elements—circular, orthogonal, and sloped projections—reveal how price action responds to temporal relationships. This multi-dimensional approach enables traders to study market structure through various geometric lenses, providing deeper insights into time-price symmetry within technical analysis. Whether applied to retracements, extensions, or trend analysis, the indicator offers a structured methodology for understanding how markets move through both price and time dimensions.
🛠️ CONFIGURATION AND SETTINGS 🛠️
The Fibonacci Time-Price Zones indicator offers a range of configurable settings to tailor its functionality and visual representation to your specific analysis needs. These options allow you to customize zone visibility, structures, horizontal lines, and other features.
Important Note: The indicator's calculations are anchored to user-defined start and end points on the chart. When switching between charts with significantly different price scales (e.g., from Bitcoin at $100,000 to Silver at $30), adjustment of these anchor points is required to ensure correct positioning of the Fibonacci elements.
Fibonacci Levels
The indicator allows users to customize Fibonacci levels for both retracement and extension analysis. Each level can be individually configured with the following options:
Visibility : Toggle the visibility of each level to focus on specific areas of interest.
Level Value : Set the Fibonacci ratio for the level, such as 0.618 or 1.000, to align with your analysis needs.
Color : Customize the color of each level for better visual clarity.
Line Thickness : Adjust the line thickness to emphasize critical levels or maintain a cleaner chart.
Setup
Zone Type : Select which Fibonacci zones to display:
- Retracement : Shows potential pull back levels within the trend
- Extension : Projects levels beyond the trend for potential continuation targets
- Both : Displays both retracement and extension zones simultaneously
Shape : Choose from four visualization methods:
- Circular : Time-price based semicircles centered on point B
- Orthogonal : L-shaped patterns combining time and price levels
- Sloped : Trend-aligned projections of Fibonacci levels
- Horizontal : Traditional horizontal Fibonacci levels
Visual Settings
Fill % : Adjusts the fill intensity of zones:
0% : No fill between levels
100% : Maximum fill between levels
Lines :
Trendline : The base A-B trend with customizable color
Extension : B-C projection line
Retracement : B-D pullback line
Labels :
Points : Show/hide A, B, C, D markers
Levels : Show/hide Fibonacci percentages
Time-Price Points
Set the time and price for the points that define the Fibonacci zones and horizontal levels. These points are defined upon loading the chart. These points can be configured directly in the settings or adjusted interactively on the live chart.
A and B Points : These user-defined time and price points determine the basis for calculating the semicircles and Fibonacci levels. While the settings panel displays their exact values for fine-tuning, the easiest way to modify these points is by dragging them directly on the chart for quick adjustments.
Interactive Adjustments : Any changes made to the points on the chart will automatically synchronize with the settings panel, ensuring consistency and precision.
🖼️ CHART EXAMPLES 🖼️
Fibonacci Time-Price Zones using the 'Circular' Shape option. Note the price interaction at the 0.786 level, which acts as a support zone. Additional points of interest include resistance near the 0.618 level and consolidation around the 0.5 level, highlighting the utility of both horizontal and semicircular Fibonacci projections in identifying key price areas.
Fibonacci Time-Price Zones using the 'Sloped' Shape option. The chart displays price retracing along the sloped Fibonacci levels, with blue arrows highlighting potential support zones at 0.618 and 0.786, and a red arrow indicating potential resistance at the 1.0 level. This visual representation aligns with the prevailing downtrend, suggesting potential selling pressure at the 1.0 Fibonacci level.
Fibonacci Time-Price Zones using the 'Orthogonal' Shape option. The chart demonstrates price action interacting with vertical zones created by the orthogonal lines at the 0.618, 0.786, and 1.0 Fibonacci levels. Blue arrows highlight potential support areas, while red arrows indicate potential resistance areas, revealing how the orthogonal lines can identify distinct points of price interaction.
Fibonacci Time-Price Zones using the 'Circular' Shape option. The chart displays price action in relation to segmented circles emanating from the starting point (point A). The circles represent different Fibonacci ratios (0.382, 0.5, 0.618, 0.786) and their intersections with the price axis create potential zones of support and resistance. This approach offers a visually distinct way to analyze potential turning points based on both price and time.
Fibonacci Time-Price Zones using the 'Sloped' Shape option. The sloped Fibonacci levels (0.786, 0.618, 0.5) create zones of potential support and resistance, with price finding clear interaction within these areas. The ellipses highlight this price action, particularly the support between 0.786 and 0.618, which aligns closely with the trend.
Fibonacci Time-Price Zones using the 'Circular' Shape option. The price action appears to be ‘hugging’ the 0.5 Fibonacci level, suggesting potential resistance. This demonstrates how the circular zones can identify potential turning points and areas of consolidation which might not be seen with linear analysis.
Fibonacci Time-Price Zones using the 'Sloped' Shape option with Point D marker enabled. The chart demonstrates clear price action closely following along the sloped Retracement line until the orthogonal intersection at the 0.618 levels where the trend is broken and price dips throughout the 0.618 to 0.786 horizontal zone. Price jumps back to the retracement slope at the start of the 0.786 horizontal zone and continues to the 1.0 horizontal zone. The aqua-colored retracement line is enabled to further emphasize this retracement slope .
Geometric validation using TradingView's built-in Fibonacci Circle tool (overlaid). The alignment at the 0.5 and 1.0 levels demonstrates the indicator's consistent approximation of Fibonacci Circles.
Comparison of Fibonacci Time-Price Zones (Shape: Horizontal) with TradingView's Built-in Retracement and Extension Tools (overlaid): This example demonstrates how the Horizontal structure aligns with TradingView’s retracement and extension levels, allowing users to integrate multiple tools seamlessly. The Fibonacci circle connects retracement and extension zones, highlighting the potential relationship between past retracements and future extensions.
📐 GEOMETRIC FOUNDATIONS 📐
This indicator integrates circular and straight representations of Fibonacci levels, specifically the Circular , Orthogonal , Sloped , and Horizontal shape options. The geometric principles behind these shapes differ significantly, requiring distinct scaling methods for accurate representation. The Circular shape employs logarithmic scaling with radial expansion, where the distance from a central point determines the level's position, creating partial circles that align with TradingView's built-in Fibonacci Circle tool. The other three shapes utilize geometric progression scaling for linear extension from a starting point, resulting in straight lines that align with TradingView's built-in Fibonacci retracement and extension tools. Due to these distinct geometric foundations and scaling methods, perfectly aligning both the partial circles and straight lines simultaneously is mathematically constrained, though any differences are typically visually imperceptible.
The Circular shape's partial circles are calculated and scaled to align with TradingView's built-in Fibonacci Circles. These circles are plotted from the second swing point onward. This approach ensures consistent and accurate visualization across all market types, including those with gaps or closed sessions, which unlike 24/7 markets, do not have a direct one-to-one correspondence between bar indices and time. To maintain accurate geometric proportions across varying chart scales, the indicator calculates an aspect ratio by normalizing the proportional difference between vertical (price) and horizontal (time) distances of the swing points. This normalization factor ensures geometric shapes maintain their mathematical properties regardless of price scale magnitude or time period span, while maintaining the correct proportions of the geometric constructions at any chart zoom level.
The indicator automatically applies the appropriate scaling factor based on the selected shape option, optimizing either circular proportions and proper radius calculations for each Fibonacci level, or straight-line relationships between Fibonacci levels. These distinct scaling approaches maintain mathematical integrity while preserving the essential characteristics of each geometric representation, ensuring optimal visualization accuracy whether using circular or linear shapes.
⚠️ DISCLAIMER ⚠️
The Fibonacci Time-Price Zones indicator is a visual analysis tool designed to illustrate Fibonacci relationships through geometric constructions incorporating both curved and straight lines, providing a structured framework for identifying potential areas of price interaction. It is not intended as a predictive or standalone trading signal indicator.
The indicator calculates levels and projections using user-defined anchor points and Fibonacci ratios. While it aims to align with TradingView’s Fibonacci extension, retracement, and circle tools by employing mathematical and geometric formulas, no guarantee is made that its calculations are identical to TradingView's proprietary methods.
Like all technical and visual indicators, these visual representations may visually align with key price zones in hindsight, reflecting observed price dynamics. However, these visualizations are not standalone signals for trading decisions and should be interpreted as part of a broader analytical approach.
This indicator is intended for educational and analytical purposes, complementing other tools and methods of market analysis. Users are encouraged to integrate it into a comprehensive trading strategy, customizing its settings to suit their specific needs and market conditions.
🧠 BEYOND THE CODE 🧠
The Fibonacci Time-Price Zones indicator is designed to encourage both education and community engagement. By integrating time-sensitive geometry with Fibonacci-based frameworks, it bridges traditional grid-based analysis with dynamic time-price relationships. The inclusion of semicircles, horizontal levels, orthogonal structures, and sloped trends provides users with versatile tools to explore the interaction between price movements and temporal intervals while maintaining clarity and adaptability.
As an open-source tool, the indicator invites exploration, experimentation, and customization. Whether used as a standalone resource or alongside other technical strategies, it serves as a practical and educational framework for understanding market structure and Fibonacci relationships in greater depth.
Your feedback and contributions are essential to refining and enhancing the Fibonacci Time-Price Zones indicator. We look forward to the creative applications, adaptations, and insights this tool inspires within the trading community.
Bitcoin All-Time High (ATH) Alert with Cooldown₿ Bitcoin All-Time High (ATH) Alert with Cooldown 🚀👩🚀
🔍 What it does:
This indicator tracks new all-time highs (ATHs) and alerts you when Bitcoin (or any asset) reaches a fresh ATH, while avoiding alert spam with a customizable cooldown period.
✨ Key Features
✅ Alerts for New ATHs: Never miss when Bitcoin makes history!
✅ Cooldown Period: Prevents multiple alerts within a short timeframe (customizable in settings).
✅ ATH Line on Chart: A clear, visual line marking the all-time high price.
✅ Manual Reset Option: Reset the ATH for testing or specific chart conditions.
⚙️ How to Use
Add the Indicator: Apply it to your chart like any other indicator. Ideally on a small time frame, the cooldown is 20 bars by default (adjustable) which gives 20 minutes on the 1 min chart.
Customize Settings:
- Cooldown Period (bars): Set the number of bars to wait before triggering another alert (e.g., 20 bars).
- Show All-Time High Line: Toggle to display or hide the ATH line visually.
- Reset All-Time High: Use this to manually reset the ATH to the current bar's high.
Create an Alert:
Open the "Alerts" menu.
Select the condition: "New All-Time High" .
Choose a trigger type:
Once Per Bar: For immediate alerts when a new ATH occurs.
Once Per Bar Close: To confirm the ATH at the end of each bar.
🛠️ Who is it for?
Traders and HODLers who want to stay on top of price action.
Anyone looking for clean and efficient ATH tracking with no redundant alerts
🚀 Never miss a new ATH again. Stay ahead of the market!
Earnings Gap UpsBased on research conducted by John Pocorobba and Jason Thompson, the Earnings Gap Ups Indicator is designed to identify three types of earnings gaps, key levels, and the "alpha window"—a period when stocks often outperform following a gap. These gaps are frequently observed in high-performing stocks.
What is an Earnings Gap?
An earnings gap occurs when a stock's price makes a significant jump, after the company reports earnings signifying the street (institutions) were caught off guard.
The three different types of gaps are as follows: [/b
PEG (Power Earnings Gap)
Price gain of 10% or more
Volume is greater than 200% above the 50-day average
EPS surprise of at least 20%
Monster Gap
Price gain of 20% or more
Volume is greater than 300% above the 50-day average
No fundamental requirement
Monster Peg
Price Gain of 20% or more
Volume is greater than 300% above the 50-day average
EPS surprise of at least 20%
Key Levels and the Alpha Window
In addition to spotting these gaps, the indicator marks key levels on the chart and extends them through the alpha window, which represents the time period when the stock tends to outperform after the gap.
Key levels include:
High volume close: The closing price on a day with unusually high trading volume
High volume close minus 5%: A potential support level below the high volume close
Gap day high: The highest price reached on the gap day
Gap day low: The lowest price reached on the gap day
By understanding and tracking these gaps and levels, traders can map out a playbook for trading earnings gaps.
Pivot MeterThe "Pivot Meter" is a indicator designed to plot pivot levels (support and resistance) directly on the chart. It offers two types of pivot calculations STANDARD and FIBONACCI, allowing traders to choose their preferred method. Here's an overview of its features and functionalities:
________________________________________
Key Features
1. Pivot Types:
o STANDARD: Traditional calculation based on the previous period's high, low, and close.
o FIBONACCI: Uses Fibonacci ratios to calculate support and resistance levels.
2. Dynamic Time Frame Adjustment:
o The indicator adjusts its calculations based on the chart's timeframe, aligning pivot calculations with appropriate periods.
3. Pivot Levels:
o Resistance Levels (R1 to R5): Five resistance levels calculated based on the selected pivot type.
o Support Levels (S1 to S5): Five support levels corresponding to the pivot type.
o Central Pivot (P): The base pivot level for reference.
4. Visualization:
o All pivot levels are plotted as coloured horizontal bands on the chart for easy identification.
o Colours range from warm tones (red for higher resistance levels) to cool tones (blue for lower support levels).
o Thickness and styling make these levels visually prominent.
5. Real-Time Price Line:
o A dynamically updating line marks the current price, with customizable colour and width for visibility.
6. Labels for Levels:
o Labels are placed next to each pivot level for identification (e.g., R1, S1, Pivot).
o Labels dynamically adjust their position with the chart’s bar progression.
________________________________________
Purpose
This indicator helps traders identify potential reversal points, support and resistance levels, and critical price zones. It is especially useful for:
• Day Traders: Quickly assess key levels for short-term trades.
• Swing Traders: Spot significant support/resistance zones over longer periods.
• Trend Followers: Use pivot levels to confirm breakouts or bounces.
________________________________________
Customization Options
• Pivot Type Selection: Choose between STANDARD and FIBONACCI.
• Price Line Colour: Customize the colour of the current price line for better integration with your chart setup.
________________________________________
Technical Details
• Security Function: Data from higher timeframes is accessed using request.security, ensuring accurate and multi-timeframe pivot calculations.
• Dynamic Labelling: Labels update their positions with every new bar to remain synchronized with the latest data.
________________________________________
Usage
Traders can add this indicator to their TradingView charts to monitor critical levels and strategize entries, exits, and stop-loss placements based on the proximity to these pivots. The dual pivot calculation methods make it versatile for diverse trading styles.
