Auction Theory Price LevelsKnowing the levels where price might find support or resistance is critical in trading. These are the levels where buyer or sellers previously showed up.
A bull trend is recognized by higher highs and higher lows on a daily or weekly chart whereas a bear trend is recognized by lower highs and lower lows. Knowing where these daily and weekly levels are will help to expect when and where a bounce or rejection might occur. Alternatively a break of these levels might hint at a change in trend. As they say, never get bullish at the top or bearish at the bottom until the level is broken and held.
This indicator adds these critical levels to the chart and let you hide the ones that are not important to your style of trading (all times are in US Eastern)
- pre-market (4am to 9:30am): low, high, mid
- previous day; low, high, close
- previous week: low, high
- current week: high, low
- initial balance (9:30am to 10:30am): low, high
- current session: open, low, high, mid
If you like the indicator, please like and share!
Thank you!
Точки разворота и уровни
NSDT Custom High and Low LinesFirst, the credit for the original script to plot a High and Low between a certain time goes to developer paaax.
I took that idea, converted it to Pinescript V5, cleaned up the code, and added a few more lines so you can plot different levels based on time of day.
Published open source like the original.
The example shown has:
Blue - plotting from the start of the Futures Asian session to the start of the Futures USA Session. (6:00PM - 9:30AM Eastern)
Yellow - plotting from the start of the Futures Europe session to the start of the Futures USA Session. (3:00AM - 9:30AM Eastern)
Green - plotting from the start of the Futures US Premarket session to the start of the Futures USA Session. (8:00AM - 9:30AM Eastern)
These are great levels to use for breakouts and/or support and resistance.
Combine these levels with the 5 min Open Range levels, as you have some good trades.
Each of the three sessions have individual start and end times that can be modified by the trader, so you can easily mark off important areas for your style of trading.
Market Profile @joshuuuTime is fractal. Every candle has an open, low, high and closing price.
Depending on what timeframe you are on, some opening prices could be more interesting than others.
This indicator tracks, which timeframe you are currently on and displays different things accordingly, so that the chart is never messy.
Below the hourly timeframe, the indicator highlights ICT Killzones, times of the day where most volume occurs and price moves the "cleanest". There are different versions to display those sessions in the settings.
From the hourly timeframe up to the daily timeframe, the indicator shows the "Weekly Profile". It plots the weekly opening line, can highlight daily highs and lows and daily opens and shows the name of the days on the chart.
On the daily timeframe, the indicator switches to a monthly profile. It shows the monthly open, weekly highs/lows AND it shows another concept taught by ICT, the IPDA Lookback.
ICT teaches that especially the last 20, 40 and 60 days PD Arrays and Highs/Lows are important and this indicator highlights those lookback windows accordingly.
The indicator has a lot of settings to make it allow maximum individuality.
Liquidation Levels on OIThis indicator is used to display estimated contract liquidation prices. When there are dense liquidation areas on the chart, it indicates that there may be a lot of liquidity at that price level. The horizontal lines of different colors on the chart represent different leverage ratios. See below for details.
Let me introduce the principle behind this indicator:
1. When position trading volume increases or decreases significantly higher than usual levels in a specific candlestick chart, it indicates that a large number of contracts were opened during that period. We use the 60-day moving average change as a benchmark line. If the position trading volume changes more than 1.2x, 2x or 3x its MA60 value, it is considered small, medium or large abnormal increase or decrease.
2. This indicator takes an approximate average between high, open, low and close prices of that candlestick as opening price.
3. Since contracts involve liquidity provided by both buyers and sellers with equal amounts of long and short positions corresponding to each contract respectively; since we cannot determine actual settlement prices for contract positions; therefore this indicator estimates settlement prices instead which marks five times (5x), ten times (10x), twenty-five times (25x), fifty times (50x) and one hundred times (100x) long/short settlement prices corresponding to each candlestick chart generating liquidation lines with different colors representing different leverage levels.
4. We can view areas where dense liquidation lines appear as potential liquidation zones which will have high liquidity.
5. We can adjust orders based on predicted liquidation areas because most patterns in these areas will be quickly broken.
6. We provide a density histogram to display the liquidation density of each price range.
Special thanks to the following TradingView community members for providing open-source indicators and contributing to the development of this indicator!
Liquidation - @Mysterysauce
Open Interest Delta - By Leviathan - @LeviathanCapital
Regarding the relationship with the above-mentioned open source indicators:
1. Indicator Liquidation - @Mysterysauce can also draw a liquidation line in the chart, but:
(1) Our indicator generates a liquidation line based on abnormal changes in open interest; their indicator generates a liquidation line based on trading volume.
(2) Our indicator will generate both long and short liquidation lines at the same time; their indicator will only generate a liquidation line in a single direction.
We refer to their method of drawing liquidation lines when drawing our own.
2. Indicator Open Interest Delta - By Leviathan - @LeviathanCapital obtained OI data for Binance USDT perpetual contracts in the code. We refer to their method of obtaining OI data in our code.
============= 中文版本 =============
此指标用于显示估计合约清算价格。当图表上有密集的清算区域时，表示该价格水平可能存在大量流动性。图表上不同颜色的水平线代表不同杠杆比率。详情请参见下面的说明。
让我介绍一下这个指标背后的原理：
1. 当特定蜡烛图对应的合约仓位增加量（OI Delta）显著高于通常水平时，表示在那段时间有大量合约开仓。我们使用OI Delta的60日移动均线作为基准线。如果OI Delta超过其MA60值的1.2倍、2倍或3倍，则认为是小型、中型或大型的异常OI Delta。
2. 该指标将上述蜡烛图高、开、低和收盘价的平均值作为近似的合约开仓价。
3. 由于合约涉及买方和卖方之间相互提供流动性，每个合约对应相等数量的多头和空头头寸。由于我们无法确定合约头寸的实际清算价格，因此该指标估计了清算价格。它标记了与该蜡烛图相对应的多头和空头5倍、10倍、25倍、50倍和100倍的清算价格，生成清算线。不同杠杆水平用不同颜色表示。
4. 我们可以将出现密集清算线的区域视为潜在的清算区域。这些区域将具有高流动性。
5. 我们可以根据预测到的清算区域调整自己的订单，因为根据规律，这些清算区域大部分都会很快被击穿。
6. 我们提供了密度直方图来显示每个价格范围的清算密度
特别感谢以下TradingView社区成员提供开源指标并为该指标的开发做出贡献！
Liquidation - @Mysterysauce
Open Interest Delta - By Leviathan - @LeviathanCapital
与上述开源指标的关系：
1. 指标Liquidation - @Mysterysauce也可以在图中绘制清算线，但是：
（1）我们的指标是基于open interest的异常变化生成的清算线；他们的指标是基于成交量生成的清算线
（2）我们的指标会同时生成多头和空头清算线；他们的指标仅会在单一方向生成清算线
我们的指标在绘制清算线上参考了他们绘制清算线的方式
2. 指标Open Interest Delta - By Leviathan - @LeviathanCapital在代码中获取了Binance USDT永续合约的OI数据。我们在代码中参考他们获取OI数据的方式
Artharjan Daily Weekly Price Trend IndicatorHi,
Artharjan Daily Weekly Price Trend Indicator is created to identify whether the current market price is with respect to previous Daily High and Low as well as Previous Weekly High and Low
If the price is above previous Day High a Green Square is plotted above the Candle, if the Price is inside the Previous Day Range then a Gray Square is Plotted above the Candle, and if the Price is below the previous day low then a Red Square is plotted above the candle.
Similarly If the price is above previous Week's High a Green Circle is plotted below the Candle, if the Price is inside the Previous Week's Range then a Gray Circle is Plotted below the Candle, and if the Price is below the previous Week's low then a Red Circle is plotted below the candle.
The idea here is to identify the trend, trend changes (Reversals) and initiate either a long or short positing purely based on price action.
For illustration purpose, If suppose you have entered the trade when you see a Green Square above and a Green Circle Below, hold on to the trade as long as the Green circle below does not turn into a Red Circle. It means the Weekly trend is Bullish and Daily trend may change more frequently, but you may hold on to your position unless and until the weekly Trend changes.
Also if may help to Book your profits in a timely manner, lets say you are in a long trade and you keep seeing Green Square at the top of the candle, the moment you see a Gray or a red Square at the top you may exit your long position. Obviously trader needs to use his brains to enter a position at right location on the chart and ride that position using this indicator.
I hope everyone would find this simple indicator very useful.
Regards
Rahul Desai
@Artharjan
Jesse Livermore Strategy [Buy & Sell]Jesse Livermore was a famous trader who made a fortune in the early 20th century through his unique approach to trading.
While he did not leave behind a single, specific trading strategy that is attributed to him, I have tried to reproduce one.
His trading strategy was based on understanding market trends and sentiment, and he used several technical indicators to identify potential entry and exit points.
Some of the indicators he used include:
Price Action:
Jesse Livermore relied heavily on price action to make trading decisions.
He believed that the price itself was the best indicator of market sentiment, and that by analyzing the price movement, he could identify trends and market behavior.
Volume:
Livermore also used volume to confirm price movements.
He believed that a rise in volume along with a price increase indicated a strong bullish trend, while a decrease in volume with a price increase indicated a weak trend.
Pivot Points:
Another key component of Jesse Livermore's trading strategy was pivot points.
He used pivot points to identify potential support and resistance levels in the market, which he then used to identify potential entry and exit points.
Jesse Livermore outlined a simple trading system: wait for pivotal points before entering a trade.
When the points come into play, trade them using a buffer, trading in the direction of the overall market.
Let the price dictate your actions and stay with profitable trades until there is good reason to exit the trade.
The one I have tried to reproduce it's based on Pivot High and Low looking back 5 Days, and the average price oscillator.
When the price is bellow the support defined line it's time to Buy ( Long Position ), when the Price line is over the Resistance Line it's time to Sell ( Short Position )
This indicator has to be checked, and tried into a Real-Time context, so using the Replay functionality of TradingView is the best way to see and understand how Signals comes
(NB: look back into the chart without Replay should give you wrong Buy/Sell information)
The Indicator can be used on every TimeFrames, but the better ones are 5min - 15min.
I will add the possibility to choose the TimeFrames value for Pivot High and Low.
I will create a version with Alerts for Buy and Sell and the possibility to integrate it with "3commas Bot" where the best deal can be to set a TP to 1% for each Long or Short Entry.
Let's try it and comment for doubts or questions.
52 Week High/Low FibonacciThe primary purpose of this indicator is to calculate and plot the 52-week high and low prices along with the Fibonacci retracement levels on the price chart. Fibonacci levels are commonly used in trading to identify potential support, resistance, and price reversal points.
First, the script initializes the Fibonacci levels and their corresponding colors, which will be used to plot the levels on the chart. Next, it calculates the 52-week high and low prices by finding the highest and lowest prices over the last 252 trading days, approximately equivalent to one year. Then, it identifies the overall trend direction by comparing the number of bars since the highest high and the lowest low. If the highest high is more recent, the trend is considered downwards; if the lowest low is more recent, the trend is upwards.
The script then plots the Fibonacci retracement levels on the chart, using horizontal lines at the respective price levels. It also creates labels for each level, displaying the percentage and the price value. Additionally, it draws a line connecting the 52-week high and low prices, providing a visual representation of the price range during the 52-week period.
Pros of this indicator include:
-Automatic calculation and plotting of Fibonacci levels, saving time for traders
-Clear trend identification based on 52-week high and low prices
-Visually appealing and easy-to-read chart representation with color-coded levels
-Provides insight into potential price reversal areas based on widely used Fibonacci levels
Cons of this indicator include:
-Only works on daily timeframes, limiting its usefulness for intraday and weekly traders
-Assumes that the trend will continue in the same direction, which may not always be accurate in real-world markets
-Does not provide explicit buy or sell signals, leaving the trading decision-making process up to the trader
-Solely relies on Fibonacci levels, which may not always be accurate; it is recommended to use other technical indicators or strategies alongside this indicator for a comprehensive trading approach
In conclusion, the '52 Week High Low Fibonacci' indicator is a valuable tool for traders interested in using Fibonacci levels for identifying potential price reversal points. By automatically calculating and plotting these levels based on 52-week high and low prices, the indicator provides a clear, color-coded visual aid, which can be especially helpful for traders who base their strategies on these levels.
However, it's worth noting that this indicator is limited to daily timeframes and doesn't provide explicit buy or sell signals, requiring traders to incorporate their own analysis and judgement in their decision-making process. The indicator also operates on the assumption of trend continuation, which may not always hold true.
While it's a beneficial tool, relying solely on this indicator for trading decisions may not be advisable. It's best used in conjunction with other indicators and trading strategies, providing a more balanced and comprehensive approach to trading in the financial markets. As always, risk management should be a key part of any trading strategy.
**YOUR INSIGHTFUL FEEDBACK OR SUGGESTIONS FOR REVISIONS TO THIS CODE ARE HIGHLY APPRECIATED. PLEASE FEEL FREE TO SHARE YOUR THOUGHTS TO FOSTER ITS CONTINUAL IMPROVEMENT**
ADR/AWR/AMR Average Daily+Weekly+Monthly Range[Traders Reality]Advanced ADR/AWR/AMR indicator created for Traders Reality community, as well as the greater trading community.
Thanks to the TR community discord guys: infernix, peshocore and xtech5192
Everything is modular and can be turned on/off, including a customisable table showing daily/weekly/monthly average pips/dollars.
If you just want the average daily range lines for example, you can just disable everything else. You can choose how many days to look back; as well as for weeks or months.
Check out Traders Reality on YouTube if you want to see this implemented as part of Tino's strategy that utilizes market manipulation, imbalances, times of day etc.
Price regularly reverses from ADR, making it one of the few highly valuable indicators in price action/smart money trading.
Daily Gaps & Trapped PositionsThis script builds substantially upon the default Gaps script provided by Tradingview. Functionality was added to allow users to decide what price from the previous session is used to determine a daily gap, added support for showing gaps across all timeframes up to the daily time frame, and also allow gaps to be shown even with ETH enabled on the chart. This script provides support across normal securities, futures, and also crypto.
Users can decide between the following selections to determine if a daily gap has formed:
- Previous Session Close
- Previous Session High/Low
- Last RTH Candle High/Low
The other larger piece that was added is something called trapped positions or what some folks familiar with Market Profile would call "single prints". They could also be considered FVGs but they are a specific subset of FVGs as these must from above or below the current session's high/low.
Single prints form above or below a current session's high/low and can be considered an area where price has moved too fast in that area and price will most likely return to these areas at a later point in time. In some teachings, these are also looked at as "trapped shorts" (lighter blue box color) or "trapped supply" (yellow orange box color) which creates an area where there will be potential support (trapped shorts) or resistance (trapped supply) when this area is revisited in the future. Adding these to your chart will simply provide additional areas of interest where you may see buying or selling.
Both gaps and trapped positions have the following options:
- Show only active gaps/trapped positions. Selecting this will only show areas where price has not completely traded through the box.
- Close gaps/trapped positions partially. If this is selected, it will reduce the box size as price is traded through the area. If it is not selected, the box will only disappear once price has traded through the entire box completely.
There are some additional settings that allow you to tailor how many boxes show up on the chart. These settings are as follows:
- Max number of boxes. This setting will only plot up to this number of gaps/trapped positions.
- Minimum Deviation. This will prevent gaps/trapped positions from showing if they are too small relative to average across that last 14 periods.
- Limit Max Box Trail Length (bars). If checkbox is selected, the box will stop being extended after X number of bars given in this input.
AutoLevels3.0AutoLevels is a script based on the ATR ( Average True Range ) of price action over the past 14 days. It calculates those and includes Fibonacci Extensions to create Levels that are Automatically created each morning. These are not based on past price action but are well respected and easily show patterns throughout the day.
Levels are made up of a BULL BAR , a BEAR BAR ( Go long above Bull, short below Bear Bar ) and the various extensions beyond them. Common Liquidity areas are also highlighted as tan/yellow bars. These are common reversal and contention levels should price action approach them.
Also included are 4 EMAs that have been transformed into 2 separate EMA clouds. These clouds will change color when bearish / bullish and crossing and signal up and downtrends and compress during chop. They are 100% customizable with your own EMA preference. Colors as well.
The Candles are Volume Based Candles. They default to Hollow candles when Volume is below the 24 moving average ( customizable ) and are filled solid when the volume for that time period has HIGH RELATIVE VOLUME. These are GREAT SIGNALS as price action approaches the levels that the AUTOLEVEL indicator generate. When a candle is filled and approaching a level it is likely to break through or attempting to. Low volume candles, hollow, show low conviction in price movement.
Aside from the Fibonacci Levels generated, the EMA Clouds and the Volume Candles you can also select how full or minimal your chart is. ( more levels to only a few ) Also you can extend all levels to the right for future charting or leave that selection off to only generate the static daily levels a few bars ahead.
You can also adjust the timeframe the Autolevels are generating levels for. 1 day is the current day. 1 month plots out a month of levels and is best used with the 1D timeframe.
You can look up my Twitter account for hundreds of examples of daily use.
NoanFam IndicatorNoan Indicator: A Simple Manual for Beginners
Welcome to the Noan Indicator manual!
This guide will help you understand how to use the Noan Indicator for your trading needs, even if you have little to no knowledge of trading.
The Noan Indicator is a versatile tool that can be applied to different trading strategies, such as 123 patterns, trend breaks, or sudden large price movements.
How to Start the Indicator:
1. Determine 2% risk:
The first step is to determine the risk you're willing to take for a particular trade.
We recommend a 2% risk, meaning you should not risk more than 2% of your account balance on any single trade.
a. Enter Portfolio Size: Enter the total value of your trading portfolio. This value will be used to calculate the trade size based on the percentage risk you're willing to take.
b. Enter Leverage Multiplier: Enter the leverage multiplier you are using for your trades. This value will be used to adjust the trade size accordingly.
c. Split amount to trade (Entry-DCA): Select the desired percentage split for your initial trade entry and dollar-cost averaging (DCA) trade. You can choose between 60/40, 50/50, or 100% (no DCA).
2. Identify a trade opportunity:
Analyze the market, using technical and/or fundamental analysis, to identify potential trade opportunities. Look for patterns, trends, support and resistance levels, and other indicators that signal the right time to enter a trade. Remember that the Noan Indicator is designed to assist you in managing risk, and it is not a standalone trading strategy. Always use your own research and judgement when making trading decisions.
After conducting your research and finding a good point to enter, input the trade type (long or short) into the indicator.
3. Set entry price:
The entry price should be based on your analysis and represents the price at which you would like to enter the market.
It is essential to set a realistic entry price, taking into consideration the current market conditions and price action.
After conducting your own research and identifying a good entry point for a long or short trade, input the Entry Price into the Noan Indicator.
4. Preferences:
The Noan indicator is set default with a Dollar Cost Averaging (DCA) area.
You can choose to disable this feature if desired.
Also an option to choose whether you want to see the values ($) or percentages (%) for the different levels in the indicator.
5. Select a predefined Trail Stop Loss:
If a trailing stop loss option is selected in the settings, a line will be displayed on the chart, showing the level where the stop loss will be moved based on the chosen option.
Protect your investment and help manage risk during the trade.
It allows you to limit your losses while allowing your profits to run.
Move Stop Loss to Average Entry: The stop loss moves to your average entry price (considering DCA) once the market reaches a specific level.
Move Stop Loss to Entry: The stop loss moves to your initial entry price.
Move Stop Loss to TP1 after DCA: The stop loss moves to the first Take Profit level after executing the DCA.
Move Stop Loss to TP1, TP2, TP3, or LTPR: The stop loss moves to the specified Take Profit level or Last Trailing Profit Range.
6. Set alerts:
Set up alerts for when the indicator reaches specific levels or when other conditions are met.
This will help you stay informed about potential trading opportunities.
To set up alerts using the Noan Indicator v2.7.0:
a. Right-click on the chart and select "Add Alert" or click the "Alerts" tab in the left sidebar and click the "+" button.
b. In the "Condition" dropdown menu, select the "Noan Indicator v2.7.0" script.
c. Choose the alert type by selecting a condition from the available options (e.g., crossing, greater than, less than, etc.).
d. Specify the alert settings, such as the alert name, message, and frequency.
e. Click "Create" to create the alert.
What Makes This Indicator Unique?
The Noan Indicator is designed to suit various trading strategies and can help confirm a setup after thorough research or upon reaching a Point of Interest (POI). By inputting a pre-examined entry price, the indicator will display different potential levels for Take Profits (TPs), Dollar-Cost Averaging (DCA), and Stop Loss (SL) areas. These levels are based on fixed percentages derived from data collected from thousands of trades.
If the different levels correspond well with past price levels, this can provide an extra point of confirmation for your trading decision. The TPs, DCA, and SL areas at these levels are structured according to the Noan Theory, further enhancing the effectiveness of the indicator.
In summary, the Noan Indicator is a versatile and powerful tool that can help traders of all levels make more informed decisions, regardless of their trading strategy. By following this simple manual, you can start using the Noan Indicator to improve your trading performance.
QQQ NDX NQ Price Converter+ [Pt]This is a + version of my original QQQ NDX NQ Price Converter indicator
Description
The QQQ NDX NQ Price Converter is a powerful and easy-to-use tool that allows traders to view corresponding price levels for linked instruments in real-time. This includes QQQ, NDX, NQ, and NAS100USD. Although these instruments often move in sync, differences in price movements, volume, and trading hours can create unique key levels and support/resistance areas for each. By mapping these levels on the same chart, traders can more easily spot trading opportunities and improve their chances of success.
Customizable features
- multiplier from the closest whole number price level
- line color
- line style
- label position / size
- # of levels to display
- toggle current price display table
|| ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------||
This script includes the following premium unique features.
QQQ / NDX Gaps detector
A gap is an area on a chart where the price between two bars changes significantly without any trades happening between them. Such gaps often occur when a strong shift in sentiment happens during the hours when markets are usually closed. This indicator highlights these gaps on the chart and extends them further until they have been covered (i.e., when a newer bar has crossed that gap).
Overnight gaps from QQQ or NDX can be mapped directly onto NQ chart
VWAPs
VWAPs of these linked instruments can be mapped onto the chart. For example, NQ VWAP mapped onto QQQ chart, or vise versa. This allows for clear visualization of the price action near these VWAP levels.
Custom Cross Instruments Price Targets
Want to trade QQQ options while watching NQ chart or vise versa? You can set upto 8 price targets and see the corresponding converted price level. No need to switch between charts to try to figure out which price level corresponds to which.
SPY SPX ES Price Converter+ [Pt]This is a + version of my original SPY SPX ES Price Converter indicator
Description
The SPY SPX ES Price Converter is a powerful and easy-to-use tool that allows traders to view corresponding price levels for linked instruments in real-time. This includes SPY, SPX, ES, and SPX500USD. Although these instruments often move in sync, differences in price movements, volume, and trading hours can create unique key levels and support/resistance areas for each. By mapping these levels on the same chart, traders can more easily spot trading opportunities and improve their chances of success.
Customizable features
- multiplier from the closest whole number price level
- line color
- line style
- label position / size
- # of levels to display
- toggle current price display table
|| ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------||
This script includes the following premium unique features.
SPY / SPX Gaps detector
A gap is an area on a chart where the price between two bars changes significantly without any trades happening between them. Such gaps often occur when a strong shift in sentiment happens during the hours when markets are usually closed. This indicator highlights these gaps on the chart and extends them further until they have been covered (i.e., when a newer bar has crossed that gap).
Overnight gaps from SPY or SPX can be mapped directly onto ES chart
VWAPs
VWAPs of these linked instruments can be mapped onto the chart. For example, ES VWAP mapped onto SPY chart, or vise versa. This allows for clear visualization of the price action near these VWAP levels.
Custom Cross Instruments Price Targets
Want to trade SPY options while watching ES chart or vise versa? You can setup to 8 price targets and see the corresponding converted price level. No need to switch between charts to try to figure out which price level corresponds to which.
ICT Day/Week/Month Levels [MK]Displays Open, High, Low, Close and 50% levels for the Previous Day/Week/Month.
Also shows the Open for the Current Day/Week/Month
Also shows the Current New Week Opening Gap Midline (NWOG)
These levels are key to teachings by ICT as well as other trading strategies. There are lots of scripts available for this data, however this one plots the levels to the right of price on the chart to keep the chart as clean as possible. The line styles, colors and text can be customised. The offset to the right of the chart for the start of line and label offsets can also be adjusted.
Labels are abbreviated to PDH (previous day high), CMO (current month open), PW50% (previous week 50% from high to low) ..etc
Recursive Reversal Chart Patterns [Trendoscope]Caution: This algorithm is very heavy and bound to cause timeouts. If that happens, there are few settings you can change to reduce the load. (Will explain them in the description below)
🎲 Recursive Reversal Chart Patterns Indicator
Welcome to another exploration of Zigzag and Pattern ecosystem components. Previously we derived Pitchfork and Recursive Zigzag indicators. This indicator is designed to scan and highlight few popular "Reversal Chart Patterns". Similar to other indicators in the ecosystem, this too is built on recursive zigzags.
Double Taps
Triple Taps
Cup and Handles
Head and Shoulders
Indicator however names the patterns separately for bullish and bearish formations. So, the actual names you see on the screen are
Double Top
Double Bottom
Triple Top
Triple Bottom
Cup and Handle
Inverted Cup and Handle
Head and Shoulders
Inverse Head and Shoulders
Here is a snapshot on how each category of patterns look on the chart.
🎲 Architecture
Many of you may be cursing me for publishing too many libraries. But, these are all preparations for something big. Like other indicators in the Zigzag and Patterns Ecosystem, this too uses a bunch of libraries.
🎯Major direct dependencies
ZigzagTypes
ZigzagMethods
ReversalChartPatternLibrary
🎯Indirect dependencies
DrawingTypes
DrawingMethods
🎯Minor dependencies
Utils
TradeTracker
🎲 Indicator Settings
🎯Generic and Zigzag Settings.
Note: In case of timeout, please decrease the value of depth parameter
🎯Pattern Selection
Having all the patterns selected on chart may also cause timeouts and will make the chart look messy. It is better to limit one or two patterns on the chart to have clear picture.
🎯Scanner Settings
🎯Indicators.
These are options to use indicators as secondary confirmation to calculate divergence. If selected, the patterns are shown only if the divergence data is inline. Option also available to plugin external indicator. These calculations are not straightforward and not easy to measure by manual inspection. This feature at present is purely experimental.
Have a go and let me know how you feel :)
QQQ NDX NQ Price Converter [Pt]A must have tool for QQQ NDX NQ traders~!!!
Description
The QQQ NDX NQ Price Converter is a powerful and easy-to-use tool that allows traders to view corresponding price levels for linked instruments in real-time. This includes QQQ, NDX, NQ, and NAS100USD. Although these instruments often move in sync, differences in price movements, volume, and trading hours can create unique key levels and support/resistance areas for each. By mapping these levels on the same chart, traders can more easily spot trading opportunities and improve their chances of success.
Customizable features
- multiplier from the closest whole number price level
- line color
- line style
- label position / size
- # of levels to display
- toggle current price display table
SPY SPX ES Price Converter [Pt]A must have tool for SPY SPX ES traders~!!!
Description
The SPY SPX ES Price Converter is a powerful and easy-to-use tool that allows traders to view corresponding price levels for linked instruments in real-time. This includes SPY, SPX, ES, and SPX500USD. Although these instruments often move in sync, differences in price movements, volume, and trading hours can create unique key levels and support/resistance areas for each. By mapping these levels on the same chart, traders can more easily spot trading opportunities and improve their chances of success.
Customizable features
- multiplier from the closest whole number price level
- line color
- line style
- label position / size
- # of levels to display
- toggle current price display table
ICT Opening Lines [MK]Plots horizontal lines for the following opening times:
00:00 open
08:30 open
09:30 open
13:30 open
Opening lines can be used to monitor for power of 3/judas swings as per ICT teachings. The script allows the user to set a maximum timeframe for displaying the lines to keep HTF charts clean. Also an option is available to hide the lines after the market closes. If the hide option is used, the lines will be removed at 23:00.
Removing the lines after market closes ensures that the charts are clean when the market opens.
Labels can be displayed, colors and line styles can be customised.
ViPlay Signal demo versionViPlay Signal is a trading indicator designed for the TradingView platform that generates buy and sell signals based on a combination of technical indicators. The indicator uses two different Moving Averages, the Market Range Oscillator (MRO), and the Williams Percent Range (WPR) to provide traders with a comprehensive set of tools for identifying potential entry and exit points, confirming trends, and managing risk.
The Moving Averages used in the indicator are the 50-period and 200-period Simple Moving Averages (SMA) of the closing price, which are widely used in technical analysis to identify trends and support/resistance levels. The Market Range Oscillator (MRO) is a proprietary indicator that measures the range of the market, which can help identify extreme market conditions. The MRO is used to determine buy and sell signals, with two different calculations performed to identify each type of signal.
The Williams Percent Range (WPR) is a momentum indicator that helps traders identify overbought and oversold conditions in the market. By using the WPR in combination with the Moving Averages and the MRO, the ViPlay Signal indicator can provide more accurate and reliable signals to traders.
The indicator allows users to select a strategy from a dropdown menu that includes BTC 1m, 3m, 15m, 4H, and LTC 3m, ideal 5m, and 15m super. The values of some of the parameters change based on the selected strategy, allowing traders to customize the indicator to their specific needs.
The ViPlay Signal indicator plots buy and sell signals on the chart as labels with arrows pointing up or down to indicate the direction of the trade. A green arrow represents a buy signal, and a red arrow represents a sell signal. The chart is clean and easy to read, with complete symbol/timeframe and script name information provided.
In summary, the ViPlay Signal indicator is a powerful and customizable tool for traders looking to improve their trading performance. The indicator provides a comprehensive set of technical analysis tools, including Moving Averages, the MRO, and the WPR, to help traders identify potential trading opportunities and manage risk.
Fib Retracement AlgoFib Retracement Algo
Description: This indicator has a series of steps that it takes before it finds possible retracement areas depending on the trend. The indicator itself is really simple to use.
How does it work?
This indicator uses the Hurst Exponent to verify whether or not the market is trending or not. It then determines the trend and then decides which retracement is possible.
If the hurst is below 0.5, then the retracement lines won't appear; they only appear in a trending market above 0.5 if you don't see the lines.
How Traders can use this indicator
Traders who trade bounces or retracements can use this indicator and enjoy the verification process that goes behind finding these retracements. This indicator can also be used to identify possible gaps on some occasions.
Examples of the indicator:
ThiccZonesThis indicator is a formula that includes 4 different zones which are different sizes based on the ticker you decide to use. It was optimized for SPY and other market ETFs but works well for all stocks on the market. The formula puts a zone at the previous day's high and low, and the previous 5 day's high and low. These zones are meant to be used as support and resistance and can even overlap, creating a 'master zone'. This is different than other zone indicators because the formula for these zones is something I created myself and have been unable to find on here. I have had the most success using a 1-15 minute chart and using my zones for reversal areas. I often look for other indications of reversal as well that line up with the area of the zones. It can also be used on the break and retest of these zones. I have found that when a stock breaks one of these zones it will often retest and continue that trend.
Reverse PMAR & PMARPIntroducing the Reverse PMAR & PMARP
Concept
The PMAR/PMARP is an indicator which calculates :
The ratio between a chosen source price and a user defined moving average ( Price Moving Average Ratio ).
The percentile of the PMAR over an adjustable lookback period ( Price Moving Average Ratio Percentile ).
Here I have reverse engineered the PMAR / PMARP formulas to derive several functions.
These functions calculate the chart price at which the PMAR/PMARP will cross a particular scale value.
I have employed those functions here to give the "crossover" price levels for :
Upper alert level
Upper test level
Mid-Line
Lower test level
Lower alert level
Knowing the price at which these various user defined PMARP levels will be crossed can be useful in setting price levels that trigger components of various strategies.
For example: using the reverse engineered upper test price level, to set take a take profit limit order on a long trade, which was entered when PMARP was low.
The indicator displays either the PMAR or PMARP as a line plot with optional signal moving average.
It also plots optional visual alert level lines, test level lines, background signal bars, and a display panel with reverse engineered prices.
Main Properties :
Price Source :- Choice of price values or external value from another indicator ( default *Close ).
Indicator :- Choice between PMAR or PMARP ( default *PMAR ).
Price Moving Average Ratio Properties :
PMAR Length :- User defined time period to be used in calculating the Moving Average for the Price Moving Average Ratio and the PMAR component of the PMARP ( default *21 ).
MA Type :- User defined type of Moving Average which creates the MA for the Price Moving Average Ratio and the PMAR component of the PMARP ( default *EMA ).
PMAR Multiplier :- User defined multiplier which moves the decimal place to the right in order to make the scale readable in PMAR mode ( default *x1 ).
Price Moving Average Ratio Percentile Properties :
PMARP Length :- The lookback period to be used in calculating the Price Moving Average Ratio Percentile ( default *350 ).
PMAR Levels :
Hi PMAR Alert :- High alert level ( default *1.02 ).
Hi PMAR Test :- High test level ( default *1.01 ).
Lo PMAR Test :- Low test level ( default *0.99 ).
Lo PMAR Alert :- Low alert level ( default *0.98 ).
PMARP Levels :
Hi PMARP Alert :- High alert level ( default *99 ).
Hi PMARP Test :- High test level ( default *70 ).
Lo PMARP Test :- Low test level ( default *30 ).
Lo PMARP Alert :- Low alert level ( default *1 ).
Line Plot Settings :
Color Type :- User choice from dropdown between "solid" or "spectrum" line coloring ( default *Solid ).
Solid Color :- Color selection box ( default *Yellow ).
Spectrum :- User choice from dropdown between "high to low", or "high to mid to low" spectrum line coloring ( default *high to mid to low ).
High Color :- Color selection box ( default *Red ).
Mid Color :- Color selection box ( default *Green ).
Low Color :- Color selection box ( default *Blue ).
Line Width :- Defines the width of the signal line from 1 - 4 ( default *1 ).
Signal Moving Average Settings :
Signal MA Length :- The time period to be used in calculating the signal Moving Average for the Line Plot ( default *20 ).
Signal MA Type :- The type of Moving Average which creates the signal Moving Average for the Line Plot ( default *EMA ).
Color Type :- User choice from dropdown between "single" or "dual" line color ( default *dual ).
Single Color :- Color selection box ( default *White ).
Dual Color :- Color selection box ( default *Red ). Note: Defines the color of the signal MA when the MA is falling in "dual" line coloring mode.
Line Width :- Defines the width of the signal line from 1 - 4 ( default *1 ).
Visual Alert Level Settings :
Checkboxes and color selection boxes for Upper/Lower alert lines, midline & test lines.
Signal Bars Transparency :- Sets the transparency of the vertical signal bars ( default *50 ).
Checkboxes and color selection boxes for Upper/Lower signal bars.
Panel Properties :
Checkboxes and color selection boxes for the various info. panel components.
Text Size :- User choice from dropdown between Tiny, Small, Normal and Large ( default *Normal ).
Decimal Places :- Sets the decimal places shown for the values in the info. panel ( default *2 ).
Initial Balance |ASE|Introduction
Initial Balance (IB) refers to the price data that is formed during the first hour of a trading session. It is an important concept in trading as it provides insights into the market's opening sentiment and potential trading opportunities or reversals for the day. There are multiple trading sessions throughout the day. The most popular, the NY Session, is open from 9:30 am to 4:00pm EST making the Initial Balance(IB) range the first hour (9:30-10:30) The other sessions include London, Tokyo, and Sydney.
IB Customization
The Initial Balance lines are fully customizable to fit the traders need.
Show Initial Balance
This setting will plot the Initial Balance
Fill/Extend IB Range
The Fill IB Range toggle fills the area in between the IB High and IB Low. Use the IB Fill Color option to change the fill color in the “Line Settings” group on the settings panel.
The Extend IB Range extends the IB lines until the market closes.
Show 1x/2x Extensions
The Show 1x Extension toggle displays 1 times the IB range line (IB High - IB Low) above IB High and 1 times the IB range line below IB Low.
The Show 2x Extension toggle displays the 2 times the IB range line (IB High - IB Low) above IB High and 2 times the IB range line below IB Low.
*Use the Extension Level Color in the “Line Settings” to change the color of the lines.
Show Middle Levels
The Show Middle Levels toggle shows all the 50% lines between the upper 2x and upper 1x line, upper 1x and IB high, IB high and IB low, IB low and lower 1x line, and the lower 1x and lower 2x line.
*Use the Mid Level Color in the “Line Settings” to change the color of the lines.
Delete Previous Day’s Levels
This setting will only show the current day's Initial Balance and delete all previous day levels to produce a clean chart.
How To Use:
The Initial Balance Range can support a bias as it shows the opening market sentiment. By watching price action interact with the Initial Balance Range we can watch for indications of trending or failing moves at the high or the low and overall a ranging or trending session.
The extension levels are projections as to where price could potentially reach in a trending market. If we are bullish and trending higher, we would want to see price reach the first extension, signs of strength at these levels can be used as confirmation to target other levels.
Overall, all these levels can and should be used as support and resistance levels, and as always, can not be used by themselves and require additional confirmation, whether that be an indicator or price action. Below you can see chart examples of these levels in action.
