Revenue GridDescription:
The Revenue Grid indicator helps traders and investors visualize a stock’s valuation by plotting horizontal lines based on its price-to-sales (P/S) ratio. This tool displays how the stock price compares to multiples of its total revenue per share, giving a clear perspective on valuation benchmarks.
Fundamental Concept:
The price-to-sales ratio compares a company’s stock price to its revenue per share. It’s used to evaluate whether a stock is overvalued or undervalued based on its revenue.
This indicator offers a unique way to view this ratio by applying Fibonacci multiples to the revenue per share. It plots lines at these multiples to show how the stock price measures up against different valuation levels.
How It Works:
Data Inputs:
Total Revenue (TR): The company’s revenue over the past twelve months.
Total Shares Outstanding (TSO): The total number of shares in circulation.
Calculation:
Calculates the revenue per share (TR/TSO).
Plots lines at fixed Fibonacci multiples (e.g., 1x, 2x, 3x, 5x, 8x, 13x) of the revenue per share value.
How to Use:
1. Add the "Revenue Grid" indicator to your chart by searching for it in the indicator library and applying it.
2. Observe the lines plotted on the chart. If these lines are trending upwards, it indicates that the revenue is increasing.
3. Analyze how historical prices trend relative to these lines. Look for periods where the stock price supports around specific multiples, you can easily get a sense of overvaluation or undervaluation in certain periods.
Use this information to guide further analysis and investment decisions.
Benefits:
1. Clear Valuation View: Easily see how the company’s revenue translates into stock price levels.
2. Investment Insight: Identify if the stock price is lagging behind revenue growth, which might signal a buying opportunity.
3. Historical Context: Understand how the market has historically valued the company and assess the current valuation.
Do let me know your feedbacks in comments. Happy Investing :)
Support
Grid Bot Parabolic [xxattaxx]🟩 The Grid Bot Parabolic, a continuation of the Grid Bot Simulator Series , enhances traditional gridbot theory by employing a dynamic parabolic curve to visualize potential support and resistance levels. This adaptability is particularly useful in volatile or trending markets, enabling traders to explore grid-based strategies and gain deeper market insights. The grids are divided into customizable trade zones that trigger signals as prices move into new zones, empowering traders to gain deeper insights into market dynamics and potential turning points.
While traditional grid bots excel in ranging markets, the Grid Bot Parabolic’s introduction of acceleration and curvature adds new dimensions, enabling its use in trending markets as well. It can function as a traditional grid bot with horizontal lines, a tilted grid bot with linear slopes, or a fully parabolic grid with curves. This dynamic nature allows the indicator to adapt to various market conditions, providing traders with a versatile tool for visualizing dynamic support and resistance levels.
🔑 KEY FEATURES 🔑
Adaptable Grid Structures (Horizontal, Linear, Curved)
Buy and Sell Signals with Multiple Trigger/Confirmation Conditions
Secondary Buy and Secondary Sell Signals
Projected Grid Lines
Customizable Grid Spacing and Zones
Acceleration and Curvature Control
Sensitivity Adjustments
📐 GRID STRUCTURES 📐
Beyond its core parabolic functionality, the Parabolic Grid Bot offers a range of grid configurations to suit different market conditions and trading preferences. By adjusting the "Acceleration" and "Curvature" parameters, you can transform the grid's structure:
Parabolic Grids
Setting both acceleration and curvature to non-zero values results in a parabolic grid.This configuration can be particularly useful for visualizing potential turning points and trend reversals. Example: Accel = 10, Curve = -10)
Linear Grids
With a non-zero acceleration and zero curvature, the grid tilts to represent a linear trend, aiding in identifying potential support and resistance levels during trending phases. Example: Accel =1.75, Curve = 0
Horizontal Grids
When both acceleration and curvature are set to zero, the indicator reverts to a traditional grid bot with horizontal lines, suitable for ranging markets. Example: Accel=0, Curve=0
⚙️ INITIAL SETUP ⚙️
1.Adding the Indicator to Your Chart
Locate a Starting Point: To begin, visually identify a price point on your chart where you want the grid to start.This point will anchor your grid.
2. Setting Up the Grid
Add the Grid Bot Parabolic Indicator to your chart. A “Start Time/Price” dialog will appear
CLICK on the chart at your chosen start point. This will anchor the start point and open a "Confirm Inputs" dialog box.
3. Configure Settings. In the dialog box, you can set the following:
Acceleration: Adjust how quickly the grid reacts to price changes.
Curve: Define the shape of the parabola.
Intervals: Determine the distance between grid levels.
If you choose to keep the default settings, with acceleration set to 0 and curve set to 0, the grid will display as traditional horizontal lines. The grid will align with your selected price point, and you can adjust the settings at any time through the indicator’s settings panel.
⚙️ CONFIGURATION AND SETTINGS ⚙️
Grid Settings
Accel (Acceleration): Controls how quickly the price reacts to changes over time.
Curve (Curvature): Defines the overall shape of the parabola.
Intervals (Grid Spacing): Determines the vertical spacing between the grid lines.
Sensitivity: Fine tunes the magnitude of Acceleration and Curve.
Buy Zones & Sell Zones: Define the number of grid levels used for potential buy and sell signals.
* Each zone is represented on the chart with different colors:
* Green: Buy Zones
* Red: Sell Zones
* Yellow: Overlap (Buy and Sell Zones intersect)
* Gray: Neutral areas
Trigger: Chooses which part of the candlestick is used to trigger a signal.
* `Wick`: Uses the high or low of the candlestick
* `Close`: Uses the closing price of the candlestick
* `Midpoint`: Uses the middle point between the high and low of the candlestick
* `SWMA`: Uses the Symmetrical Weighted Moving Average
Confirm: Specifies how a signal is confirmed.
* `Reverse`: The signal is confirmed if the price moves in the opposite direction of the initial trigger
* `Touch`: The signal is confirmed when the price touches the specified level or zone
Sentiment: Determines the market sentiment, which can influence signal generation.
* `Slope`: Sentiment is based on the direction of the curve, reflecting the current trend
* `Long`: Sentiment is bullish, favoring buy signals
* `Short`: Sentiment is bearish, favoring sell signals
* `Neutral`: Sentiment is neutral. No secondary signals will be generated
Show Signals: Toggles the display of buy and sell signals on the chart
Chart Settings
Grid Colors: These colors define the visual appearance of the grid lines
Projected: These colors define the visual appearance of the projected lines
Parabola/SWMA: Adjust colors as needed. These are disabled by default.
Time/Price
Start Time & Start Price: These set the starting point for the parabolic curve.
* These fields are automatically populated when you add the indicator to the chart and click on an initial location
* These can be adjusted manually in the settings panel, but he easiest way to change these is by directly interacting with the start point on the chart
Please note: Time and Price must be adjusted for each chart when switching assets. For example, a Start Price on BTCUSD of $60,000 will not work on an ETHUSD chart.
🤖 ALGORITHM AND CALCULATION 🤖
The Parabolic Function
At the core of the Parabolic Grid Bot lies the parabolic function, which calculates a dynamic curve that adapts to price action over time. This curve serves as the foundation for visualizing potential support and resistance levels.
The shape and behavior of the parabola are influenced by three key user-defined parameters:
Acceleration: This parameter controls the rate of change of the curve's slope, influencing its tilt or steepness. A higher acceleration value results in a more pronounced tilt, while a lower value leads to a gentler slope. This applies to both curved and linear grid configurations.
Curvature: This parameter introduces and controls the curvature or bend of the grid. A higher curvature value results in a more pronounced parabolic shape, while a lower value leads to a flatter curve or even a straight line (when set to zero).
Sensitivity: This setting fine-tunes the overall responsiveness of the grid, influencing how strongly the Acceleration and Curvature parameters affect its shape. Increasing sensitivity amplifies the impact of these parameters, making the grid more adaptable to price changes but potentially leading to more frequent adjustments. Decreasing sensitivity reduces their impact, resulting in a more stable grid structure with fewer adjustments. It may be necessary to adjust Sensitivity when switching between different assets or timeframes to ensure optimal scaling and responsiveness.
The parabolic function combines these parameters to generate a curve that visually represents the potential path of price movement. By understanding how these inputs influence the parabola's shape and behavior, traders can gain valuable insights into potential support and resistance areas, aiding in their decision-making process.
Sentiment
The Parabolic Grid Bot incorporates sentiment to enhance signal generation. The "Sentiment" input allows you to either:
Manually specify the market sentiment: Choose between 'Long' (bullish), 'Short' (bearish), or 'Neutral'.
Let the script determine sentiment based on the slope of the parabolic curve: If 'Slope' is selected, the sentiment will be considered 'Long' when the curve is sloping upwards, 'Short' when it's sloping downwards, and 'Neutral' when it's flat.
Buy and Sell Signals
The Parabolic Grid Bot generates buy and sell signals based on the interaction between the price and the grid levels.
Trigger: The "Trigger" input determines which part of the candlestick is used to trigger a signal (wick, close, midpoint, or SWMA).
Confirmation: The "Confirm" input specifies how a signal is confirmed ('Reverse' or 'Touch').
Zones: The number of "Buy Zones" and "Sell Zones" determines the areas on the grid where buy and sell signals can be generated.
When the trigger condition is met within a buy zone and the confirmation criteria are satisfied, a buy signal is generated. Similarly, a sell signal is generated when the trigger and confirmation occur within a sell zone.
Secondary Signals
Secondary signals are generated when a regular buy or sell signal contradicts the prevailing sentiment. For example:
A buy signal in a bearish market (Sentiment = 'Short') would be considered a "secondary buy" signal.
A sell signal in a bullish market (Sentiment = 'Long') would be considered a "secondary sell" signal.
These secondary signals are visually represented on the chart using hollow triangles, differentiating them from regular signals (filled triangles).
While they can be interpreted as potential contrarian trade opportunities, secondary signals can also serve other purposes within a grid trading strategy:
Exit Signals: A secondary signal can suggest a potential shift in market sentiment or a weakening trend. This could be a cue to consider exiting an existing position, even if it's currently profitable, to lock in gains before a potential reversal
Risk Management: In a strong trend, secondary signals might offer opportunities for cautious counter-trend trades with controlled risk. These trades could utilize smaller position sizes or tighter stop-losses to manage potential downside if the main trend continues
Dollar-Cost Averaging (DCA): During a prolonged trend, the parabolic curve might generate multiple secondary signals in the opposite direction. These signals could be used to implement a DCA strategy, gradually accumulating a position at potentially favorable prices as the market retraces or consolidates within the larger trend
Secondary signals should be interpreted with caution and considered in conjunction with other technical indicators and market context. They provide additional insights into potential market reversals or consolidation phases within a broader trend, aiding in adapting your grid trading strategy to the evolving market dynamics.
Examples
Trigger=Wick, Confirm=Touch. Signals are generated when the wick touches the next gridline.
Trigger=Close, Confirm=Touch. Signals require the close to touch the next gridline.
Trigger=SWMA, Confirm=Reverse. Signals are triggered when the Symmetrically Weighted Moving Average reverse crosses the next gridline.
🧠THEORY AND RATIONALE 🧠
The innovative approach of the Parabolic Grid Bot can be better understood by first examining the limitations of traditional grid trading strategies and exploring how this indicator addresses them by incorporating principles of market cycles and dynamic price behavior
Traditional Grid Bots: One-Dimensional and Static
Traditional grid bots operate on a simple premise: they divide the price chart into a series of equally spaced horizontal lines, creating a grid of trading zones. These bots excel in ranging markets where prices oscillate within a defined range. Buy and sell orders are placed at these grid levels, aiming to profit from mean reversion as prices bounce between the support and resistance zones.
However, traditional grid bots face challenges in trending markets. As the market moves in one direction, the bot continues to place orders in that direction, leading to a stacking of positions. If the market eventually reverses, these stacked trades can be profitable, amplifying gains. But the risk lies in the potential for the market to continue trending, leaving the trader with a series of losing trades on the wrong side of the market
The Parabolic Grid Bot: Adding Dimensions
The Parabolic Grid Bot addresses the limitations of traditional grid bots by introducing two additional dimensions:
Acceleration (Second Dimension): This parameter introduces a second dimension to the grid, allowing it to tilt upwards or downwards to align with the prevailing market trend. A positive acceleration creates an upward-sloping grid, suitable for uptrends, while a negative acceleration results in a downward-sloping grid, ideal for downtrends. The magnitude of acceleration controls the steepness of the tilt, enabling you to fine-tune the grid's responsiveness to the trend's strength
Curvature (Third Dimension): This parameter adds a third dimension to the grid by introducing a parabolic curve. The curve's shape, ranging from gentle bends to sharp turns, is controlled by the curvature value. This flexibility allows the grid to closely mirror the market's evolving structure, potentially identifying turning points and trend reversals.
Mean Reversion in Trending Markets
Even in trending markets, the Parabolic Grid Bot can help identify opportunities for mean reversion strategies. While the grid may be tilted to reflect the trend, the buy and sell zones can capture short-term price oscillations or consolidations within the broader trend. This allows traders to potentially pinpoint entry and exit points based on temporary pullbacks or reversals.
Visualize and Adapt
The Parabolic Grid Bot acts as a visual aid, enhancing your understanding of market dynamics. It allows you to "see the curve" by adapting the grid to the market's patterns. If the market shows a parabolic shape, like an upward curve followed by a peak and a downward turn (similar to a head and shoulders pattern), adjust the Accel and Curve to match. This highlights potential areas of interest for further analysis.
Beyond Straight Lines: Visualizing Market Cycle
Traditional technical analysis often employs straight lines, such as trend lines and support/resistance levels, to interpret market movements. However, many analysts, including Brian Millard, contend that these lines can be misleading. They propose that what might appear as a straight line could represent just a small part of a larger curve or cycle that's not fully visible on the chart.
Markets are inherently cyclical, marked by phases of expansion, contraction, and reversal. The Parabolic Grid Bot acknowledges this cyclical behavior by offering a dynamic, curved grid that adapts to these shifts. This approach helps traders move beyond the limitations of straight lines and visualize potential support and resistance levels in a way that better reflects the market's true nature
By capturing these cyclical patterns, whether subtle or pronounced, the Parabolic Grid Bot offers a nuanced understanding of market dynamics, potentially leading to more accurate interpretations of price action and informed trading decisions.
⚠️ DISCLAIMER⚠️
This indicator utilizes a parabolic curve fitting approach to visualize potential support and resistance levels. The mathematical formulas employed have been designed with adaptability and scalability in mind, aiming to accommodate various assets and price ranges. While the resulting curves may visually resemble parabolas, it's important to note that they might not strictly adhere to the precise mathematical definition of a parabola.
The indicator's calculations have been tested and generally produce reliable results. However, no guarantees are made regarding their absolute mathematical accuracy. Traders are encouraged to use this tool as part of their broader analysis and decision-making process, combining it with other technical indicators and market context.
Please remember that trading involves inherent risks, and past performance is not indicative of future results. It is always advisable to conduct your own research and exercise prudent risk management before making any trading decisions.
🧠 BEYOND THE CODE 🧠
The Parabolic Grid Bot, like the other grid bots in this series, is designed with education and community collaboration in mind. Its open-source nature encourages exploration, experimentation, and the development of new grid trading strategies. We hope this indicator serves as a framework and a starting point for future innovations in the field of grid trading.
Your comments, suggestions, and discussions are invaluable in shaping the future of this project. We welcome your feedback and look forward to seeing how you utilize and enhance the Parabolic Grid Bot.
Volume on levels @gauranshgVolume on Levels @gauranshg is a powerful Pine Script designed to visualize trading volume across price levels directly on the chart. This script allows users to observe volume intensity, offering a clearer perspective on price action and potential support/resistance areas. By utilizing a dynamic, customizable multiplier, the volume is normalized and displayed in proportion, ensuring better scalability across various timeframes and assets.
Usage:
Normalization of Volume: Users can input a multiplier to adjust the normalization of volume. This is useful when analyzing assets with differing price and volume ranges.
Input of 1 means 1 Million volume will be marked with green color of opacity 1 and 2 Million as 2 and so on. In case you are looking at chart with very high volume, you might want to increase the multiplies
Default multiplier is set to 1, and can be customized for different scales.
Volume Visualization: The volume is displayed on the chart as background boxes behind price levels, with the opacity of the boxes changing based on the normalized volume. This helps to quickly visualize areas of high and low trading activity.
This script is ideal for investors who wish to enhance their volume analysis by visualizing it directly on price levels in a clear, normalized format.
Radius Trend [ChartPrime]RADIUS TREND
⯁ OVERVIEW
The Radius Trend [ ChartPrime ] indicator is an innovative technical analysis tool designed to visualize market trends using a dynamic, radius-based approach. By incorporating adaptive bands that adjust based on price action and volatility, this indicator provides traders with a unique perspective on trend direction, strength, and potential reversal points.
The Radius Trend concept involves creating a dynamic trend line that adjusts its angle and position based on market movements, similar to a radius sweeping across a chart. This approach allows for a more fluid and adaptive trend analysis compared to traditional linear trend lines.
◆ KEY FEATURES
Dynamic Trend Band: Calculates and plots a main trend band that adapts to market conditions.
Radius-Based Adjustment: Uses a step-based radius approach to adjust the trend band angle.
// Apply step angle to trend lines
if bar_index % n == 0 and trend
multi1 := 0
multi2 += step
band += distance1 * multi2
if bar_index % n == 0 and not trend
multi1 += step
multi2 := 0
band -= distance1 * multi1
Volatility-Adjusted Calculations: Incorporates price range volatility for more accurate band placement.
Trend Direction Visualization: Provides clear color-coding to distinguish between uptrends and downtrends.
Flexible Parameters: Allows users to adjust the radius step and initial distance for customized analysis.
◆ USAGE
Trend Identification: Use the color and direction of the main band to determine the current market trend.
Trend Strength Analysis: Observe the angle and consistency of the band for insights into trend strength.
Reversal Detection: Watch for price crossing the main band or crossing a dashed band as a potential trend reversal signal.
Volatility Assessment: The distance between price and bands can provide insights into market volatility.
⯁ USER INPUTS
Radius Step: Controls the rate of angle adjustment for the trend band (default: 0.15, step: 0.001).
Start Points Distance: Sets the initial distance multiplier for band calculations (default: 2, step: 0.1).
The Radius Trend indicator offers traders a unique and dynamic approach to trend analysis. By combining radius-based trend adjustments with volatility-sensitive calculations, it provides a fluid representation of market trends. This indicator is particularly useful for traders looking to identify trend persistence, potential reversal points, and adaptive support/resistance levels across various market conditions and timeframes.
Volumatic S/R Levels [BigBeluga]THE VOLUMATIC S/R LEVELS
The Volumatic S/R Levels [ BigBeluga ] is an advanced technical analysis tool designed to identify and visualize significant support and resistance levels based on volume and price action.
The core concept of this indicator is to highlight areas where large volume and significant price movements coincide. It does this by plotting horizontal lines at price levels where unusually large candles (in terms of price range) occur alongside high trading volume. These lines represent potential support and resistance levels that are likely to be more significant due to the increased market activity they represent.
⬤ Key Features
Dynamic S/R Level Identification: Automatically detects and displays support and resistance levels from high volume candles.
Volume-Weighted Visualization: Uses line color to see positive or negative volume and box size to represent the strength of each level
Positive and Negative Volume:
Box Size Based on Volume:
Adaptive Levels Color: Adjusts level color based on price above or below level
Real-time Level Extension: Extends identified levels to the right side of the chart for better visibility
Volume and Percentage Labels: Displays volume information and relative strength percentage for each level
Dashed Levels: Displays levels with which price have interact multiple times
Dashboard: Shows max and min level information for quick reference
⬤ How to Use
Identify Key Levels: Look for horizontal lines representing potential support and resistance areas
Assess Level Strength:
- Thicker boxes indicate stronger levels, on which price reacts more
Monitor Price Interactions: Watch how price reacts when approaching these levels for potential trade setups
Volume Confirmation: Use the volume boxes to confirm the significance of each level
Relative Strength Analysis: Check the percentage labels to understand each level's importance relative to others
Trend Analysis: Use the color of the levels (lime for bullish, orange for bearish) to understand the overall market sentiment at different price points
Quick Reference: Utilize the dashboard to see the strongest and weakest levels at a glance
⬤ Customization
Levels Strength: Adjust the minimum threshold for level strength identification (default: 2.4)
Levels Amount: Set the maximum number of levels to display on the chart (max: 20)
The Volumatic S/R Levels indicator provides traders with a sophisticated tool for identifying key price levels backed by significant volume. By visualizing these levels directly on the chart and providing detailed volume and relative strength information, it offers valuable insights into potential areas of support, resistance, and price reversal. The addition of a ranking system and dashboard further enhances the trader's ability to quickly assess the most significant levels. This indicator is particularly useful for traders focusing on volume analysis and those looking to enhance their understanding of market structure. As with all technical tools, it's recommended to use this indicator in conjunction with other forms of analysis for comprehensive trading decisions.
Ultra Key LevelsThe "Ultra Key Levels" indicator is a powerful tool designed for traders who seek to identify critical price levels in the market. This Pine Script™ indicator is optimized to plot significant pivot highs and lows directly on your chart, providing a clear visual representation of potential support and resistance zones.
Pivot Detection: Automatically identifies and marks pivot highs and lows using customizable parameters. Traders can fine-tune the length of the pivots, allowing for precise detection of significant price points.
Dynamic Boxes: The indicator draws dynamic boxes around each identified pivot high and low, highlighting key levels. These boxes are adjusted based on the Average True Range (ATR), ensuring they reflect the current market volatility.
Pivot Highs/Lows: Control the appearance and behavior of pivot points with options to adjust source data, length, transparency, and the maximum number of pivots displayed on the chart.
ATR Multiplier: Set the ATR multiplier to determine the size of the boxes around pivot points, helping you assess the strength of each level.
Debug Mode: Activate debug mode to visualize pivot points and fine-tune your settings for optimal performance.
Scalability: Supports up to 500 boxes, making it suitable for both short-term and long-term traders who need to track multiple levels across different timeframes.
The "Ultra Key Levels" indicator is ideal for traders who rely on technical analysis to make informed decisions. By automatically identifying and highlighting key price levels, this tool helps you anticipate potential market movements and optimize your trading strategy.
[1] Dynamic Support and Resistance with breakout [Dr Future]This script appears to be designed to identify and visualize dynamic support and resistance levels on a price chart, along with potential breakout signals.
Key Components & Functionality (Inferred):
Dynamic Support and Resistance: The script likely employs algorithms to calculate and plot support and resistance levels that adjust in real-time as price action evolves.
Breakout Detection: The script probably incorporates logic to recognize when the price breaks out of these dynamic support or resistance zones. This could trigger alerts or visual cues on the chart.
Dr Future's Approach: It's worth noting the " " tag, suggesting the script might be based on specific methodologies or insights associated with a trader or analyst known as "Dr Future." Without more context on their strategies, it's difficult to pinpoint the exact techniques used.
Potential Benefits:
Adaptive Levels: Dynamic support and resistance can offer a more responsive approach compared to static levels, as they account for changing market conditions.
Breakout Opportunities: Identifying breakouts can help traders spot potential entry or exit points.
Visual Clarity: Plotting these levels directly on the chart can provide a clearer picture of the current market structure and potential turning points.
Caveats:
False Signals: Like any technical tool, dynamic support and resistance can generate false signals. Breakouts might not always lead to sustained trends.
Parameter Sensitivity: The script's effectiveness likely depends on how its parameters are configured. Fine-tuning might be required to suit different markets or timeframes.
"Dr Future" Factor: The script's performance could be tied to the specific strategies of "Dr Future," which might not be universally applicable.
Important Note:
Without access to the actual code and a deeper understanding of "Dr Future's" methods, this description is based on inference and general knowledge of technical analysis.
Recommendation:
If you're considering using this script, it would be prudent to:
Backtest Thoroughly: Test the script on historical data to assess its performance and identify potential pitfalls.
Understand the Parameters: Familiarize yourself with the script's settings and how they impact the plotted levels and breakout signals.
Combine with Other Tools: Use this script in conjunction with other technical indicators and risk management strategies for a more holistic trading approach.
Dynamic Support, Resistance & Fibo by RezaDynamic Support, Resistance & Fibonacci Levels by Reza
This Pine Script indicator dynamically calculates and plots significant support and resistance levels, along with key Fibonacci retracement levels, based on recent price action. It provides traders with essential tools to identify crucial levels on the chart that may influence future price movements.
Key Features:
Dynamic Support and Resistance Lines:
The script identifies recent swing highs and swing lows within a customizable lookback period to determine dynamic support and resistance levels.
These levels are plotted as horizontal lines (blue for support, red for resistance) and are updated in real-time to reflect changes in the price structure.
Labels next to each line display the exact price level of the support and resistance, making it easy to identify them at a glance.
Fibonacci Retracement Levels:
The script calculates and plots Fibonacci retracement levels (23.6%, 38.2%, 50.0%, 55.9%, 61.8%, 66.7%, and 78.6%) between the identified support and resistance levels.
These Fibonacci levels are plotted as dotted lines, with customizable colors and labels for clarity.
The Fibonacci levels provide traders with potential retracement and extension levels, which are commonly used to predict price reversals, pullbacks, and continuation zones.
Customization:
Users can adjust the lookback period for swing high and swing low calculations to suit different trading styles and market conditions.
The script allows traders to enable or disable Fibonacci levels and choose whether or not to remove the background color of the labels for cleaner chart visuals.
Line width, highlight colors, and label colors are fully customizable for better integration with various chart styles and themes.
Real-Time Dashboard:
The indicator includes a real-time dashboard that calculates and displays the next potential target based on current market conditions, including potential retracement or continuation targets.
The dashboard dynamically updates based on trend direction and Fibonacci zones, giving traders valuable insights into potential price objectives.
How to Use:
This indicator is suitable for multiple timeframes, helping traders identify key levels in real-time as the market evolves.
By providing support and resistance zones along with Fibonacci retracement levels, this script offers a powerful combination of technical analysis tools for both novice and experienced traders.
The dynamic calculations help traders spot potential areas for entering or exiting trades, placing stop-loss levels, and identifying profit-taking zones.
Ideal for:
Traders who want to use support and resistance levels for trade planning.
Fibonacci enthusiasts looking for automated level plotting.
Anyone seeking to identify key price levels in real-time across different timeframes.
Script Author:
Reza – Bringing you dynamic, real-time support, resistance, and Fibonacci level plotting for more effective trading decisions.
ICT NWOG/NDOG Gaps [TradingFinder] New Opening Gaps🔵 Introduction
🟣 Understanding ICT Opening Gaps
In the realm of technical analysis, mastering the art of recognizing market behavior and pinpointing key price levels is vital for making sound trading decisions. Among the array of tools available, the concept of opening gaps stands out for its ability to provide crucial insights.
The ICT (Inner Circle Trader) methodology offers a distinctive approach to understanding the importance of New Day Opening Gaps (NDOG), New Week Opening Gaps (NWOG), and New Monthly Opening Gaps (NMOG).
These gaps, representing the price differences between the close of a previous period and the open of the next, serve as key reference points that can greatly impact price movements.
The ICT trading approach highlights these gaps as potential zones of support and resistance. Prices often respond to these areas, either bouncing off or passing through and then retesting them. Within these gaps, significant levels such as the high and low are particularly important.
Additionally, the Event Horizon PD Array (EHPDA) concept, which is an intermediate level calculated from the average of neighboring NWOGs or NDOGs, adds another layer to this analysis.
This guide delves into ICT's New Daily, Weekly, and Monthly Opening Ranges, showing how these gaps can be effectively utilized in trading. By grasping the nuances of these gaps, traders can better forecast market behavior, identify key support and resistance levels, and refine their trading strategies.
🟣 The Gaps
1. New Week Opening Gap (NWOG) : The NWOG is the price gap between Friday's closing price and Sunday's opening price. This gap is particularly crucial for traders who monitor weekly trends. Depending on the direction of the gap, the NWOG often serves as a pivotal support or resistance level.
2. New Day Opening Gap (NDOG) : The NDOG signifies the price difference between the closing price of the previous day and the opening price of the current day. Much like the NWOG, the NDOG is a key reference point for intraday traders.
Prices typically react to these levels, either reversing or continuing through the gap after a retest. NDOGs are instrumental in identifying short-term support and resistance levels, aiding traders in making decisions based on daily price movements.
3. New Monthly Opening Gap (NMOG) : The NMOG represents the gap between the closing price of the previous month and the opening price of the current month.
This gap is especially valuable for traders focusing on long-term trends and macroeconomic factors. As with NWOGs and NDOGs, the NMOG can act as a significant support or resistance level.
🔵 How to Use
Identifying Support and Resistance : Opening gaps often indicate potential zones where prices might reverse or find support/resistance. For example, if a new day opens below the previous day’s close (creating a NDOG), this gap could act as resistance, prompting traders to consider short positions if the price retests this level without breaking through.
Conversely, if the price opens above the previous day’s close, the gap might serve as support, offering a potential entry point for long trades.
Gap Fill Strategy : A popular strategy associated with opening gaps is the "gap fill" approach, where traders anticipate that the price will eventually return to fill the gap.
For instance, if there’s a significant NDOG at market open, a trader might expect the price to retrace back to the previous day’s close, effectively "filling" the gap. This strategy is particularly effective in markets that exhibit mean-reverting behavior.
Combining Gaps with Other Indicators : Traders often enhance their analysis of NDOG, NWOG, and NMOG by integrating other technical indicators. Aligning gap levels with tools such as Fibonacci retracements, moving averages, or existing support and resistance zones can provide additional confirmation for trade entries and exits.
🔵 Setting
Show and Color : You can control the display or non-display of the range as well as the color of the range.
Max Opening Range Update Method : You can control the number of ranges that are updated. If it is "All", all ranges that are not mitigated will be displayed. If "Custom", the ranges will be updated based on the number you specify.
Max Opening Range Update : The number of ranges to update.
🔵 Conclusion
The ICT New Daily, Weekly, and Monthly Opening Ranges provide traders with a systematic approach to understanding market dynamics and identifying critical support and resistance levels.
By analyzing these gaps, traders can gain deeper insights into potential price movements, spot high-probability trade setups, and strengthen their overall trading strategy. Whether you are focused on short-term day trading or long-term market trends, incorporating NDOG, NWOG, and NMOG analysis into your trading plan can be a powerful addition to your toolkit.
Price Close ProbabilityThe Price Close Probability Indicator is designed to help traders estimate the likelihood of price closing above or below specified levels within a given bar. By placing two levels on your chart, you can quickly gauge the probability of the current price bar closing above or below these levels in real-time.
Key Features:
Dynamic Probability Calculation: The indicator continuously updates the probability of price closing above or below your set levels as the current bar progresses, providing you with timely insights as the bar approaches its close.
Customizable Standard Deviation : Adjust the length of the Standard Deviation used in the calculations to tailor the probability estimates to your preferred settings.
User-Friendly Probability Table : A clean, easy-to-read table displays the calculated probabilities, helping you make informed trading decisions at a glance.
Assumptions and Considerations:
While the indicator assumes that returns are normally distributed, which may not fully reflect reality, it still offers a valuable approximation of the probabilities for price movement within the current bar.
Future Enhancements (Coming Soon):
Multi-Bar Probability: Calculate probabilities across multiple bars to enhance your forecasting capabilities.
Additional Levels: Set more than two levels for a broader analysis of price movements.
Refined Distribution Modeling: Improve the accuracy of probability calculations by adjusting for more realistic return distributions.
Disclaimer
Please remember that past performance may not be indicative of future results.
Due to various factors, including changing market conditions, the strategy may no longer perform as well as in historical backtesting.
This post and the script don’t provide any financial advice.
SPX Mapped Gaps [Mxwll]Hello traders 👋
This indicator "SPX Mapped Gaps" detects gaps from the SPX (or the trader's choice of index/asset) and plots them for the asset on your chart!
Features
Selectable comparison symbol
Gaps from the selected symbol (SPX by default) are plotted for the asset on your chart - serving as potential support/resistance levels!
Closest gaps from comparison symbol displayed in upper-right table
Overlapped gaps deleted automatically - less clutter!
How this script works
The "SPX Mapped Gaps" is designed to help traders determine price levels for the asset on their chart where a major index (any asset) gapped up or down.
Of course, a gap that occurs on SPX (4-digit price) is incompatible with the price chart of BTC (5-digit price). To circumvent this, the percentage distance of the gap from SPX is determined, and a gap level is drawn equidistantly (up/down) from the open price of the asset on your chart. With this method, the proportion of the gap is maintained at the price area it occurred for the asset on your chart!
The image above outlines functionality for the indicator!
Key points:
Up gaps are denoted by green boxes
Down gaps are denoted by red boxes
All gaps are listed with their start and end price for the comparison asset (SPX for the example). These labels can be hidden at the user's discretion.
Gaps are expected to act as support/resistance during their lifetime
The image above explains the output of the script, including line style indications!
Solid lines indicate that the leverage used for at your entry price constitutes an active trade. Dotted lines mean the trade has already achieved your profit target for that leverage, or stopped out.
The image above explains the table attached to the indicator!
This table displays the closest gaps to the current asset price. The status (up gap or down gap) from the gap to the current price is also detailed.
Why are gaps on the SPX, or major index, relevant to BTC and other assets?
When a gap on the major indices occurs, it's expected that strong aggregate buying or selling pressure will transpire for BTC and other coins. Due to this, the presence of a gap on a major index might correspond to increased activity on smaller market-cap assets with some degree of positive correlation to the index. Consequently, the price level for the asset at which a gap for the major index occurred may function as support/resistance for future price!
That is all for this - thanks traders!
Three Anchored Moving Averages (VWAP / SMA / EMA)
This indicator allows users to anchor three types of moving averages (Simple Moving Average (SMA), Exponential Moving Average (EMA), and Volume Weighted Average Price (VWAP)) to specific points in time (anchor points)
Key Features:
Select from three Moving Average Types:
Simple Moving Average (SMA): Averages the closing prices over a specified period.
Exponential Moving Average (EMA): Gives more weight to recent prices, making it more responsive to new information.
Volume Weighted Average Price (VWAP): Averages the price weighted by volume, useful for understanding the average price at which the asset has traded over a period.
Up to Three Anchor Points:
Users can set up to three different anchor points to calculate the moving averages from specific dates and times. This allows for analysis of price action starting from significant points or specific events. For example, you can anchor to the low and high of a move to identify key levels or to points where the price takes off from a previous anchored MA.
Customisable Sentiment Options:
Each anchor point can be associated with a sentiment input (Auto, Bull, Bear, None), which influences if the MAs are displayed as lines or zones/bands:
Auto: Automatically determines the sentiment based on whether anchor points are on pivot highs and lows. If anchored to a pivot high, the system will assume a bearish sentiment and display a red band or zone between the MA OHLC4 and High. Anchoring to a pivot low will display a green band (OHLC4 - Low).
Bull: Forces a bullish sentiment (Green Band - OHLC4 to Low)
Bear: Forces a bearish sentiment (Red Band - OHLC4 to High)
None: Ignores sentiment and displays a single line (OHLC4)
Chart Matching:
The indicator includes an option to display the moving averages only if the chart symbol matches a specified ticker. This feature ensures that the indicator is relevant to the specific asset being analysed.
How to Use the Indicator:
1. Set Anchor Points: When added to your chart, select three anchor points by point and click. If you only wish to anchor to a single point, click on that point three times and disable the other two in settings once the indicator is applied.
2. Select Moving Average Type: Choose between SMA, EMA, or VWAP using the dropdown menu. EMAs are the most responsive.
3. Enable/Disable Anchor Points: Use the checkboxes to enable or disable each anchor point.
4. Select Sentiment Type: Choose between Auto, Bull, Bear, or None.
5. Chart Matching: Optionally, specify a chart symbol to restrict the indicator's display to that particular asset.
6. Interpret the Plots: The indicator plots the high, mid, and low values of the selected moving average type from each anchor point. The fills between these plots help identify potential support and resistance zones. These should be used as points of interest for pullback reversals or potential continuation if the price breaks through.
Practical Applications:
Trend Analysis: Identify the overall trend direction from specific historical points.
Support and Resistance: Determine key dynamic support and resistance levels based on anchored moving averages.
Event-Based Analysis: Anchor the moving averages to significant events (e.g., earnings releases, economic data) to study their impact on price trends.
Multi Timeframe Analysis: Higher Timeframe Anchors can be used to identify longer term trend analysis. Switching to a lower timeframe for execution triggers at these points wont distort the MA levels as they are anchored to a specific point in time
Intraday or Swing Trading: trend analysis using anchor points can be used for any style of trading (Intraday / Swing / Invest). Use anchored levels as points of interest and wait for hints in price action to try and catch the next move.
DTFX Algo Zones [LuxAlgo]DTFX Algo Zones are auto-generated Fibonacci Retracements based on market structure shifts.
These retracement levels are intended to be used as support and resistance levels to look for price to bounce off of to confirm direction.
🔶 USAGE
Due to the retracement levels only being generated from identified market structure shifts, the retracements are confined to only draw from areas considered more important due to the technical Break of Structure (BOS) or Change of Character (CHoCH).
The simple action that causes a market structure shift occurs is price breaking above or below a specific swing point. When a market structure shift happens, a retracement is drawn from the point of break to the highest or lowest point since that point. Due to the price action necessary for a market structure shift, these retracements will not always be immediately actionable.
These retracement levels are intended to be used as points to watch for price to retrace to and bounce from, confirming the current direction of price.
In the example below, after the retracement is initiated, by bouncing off of the retracement levels formed from the previous market structure shift it would further confirm the bias of the market structure shift. A break going through these levels would display a weakness from the current market structure shift, implying that it could simply be noise.
🔶 DETAILS
The script uses standard SMC Market structure identification to determine Break of Structures (BOS) and Change of Characters (CHoCH). The specific swing points can be identified by the shapes placed above or below the specific swing high/low candle.
By unchecking the "Display All Zones" setting, users are able to specify the exact number of retracement zones to display using the "Show Last" parameter. This is handy for cleaning up the chart to stay focused on the most recent retracements.
Additionally, when displaying multiple zones, the "Clean-Up Level Overlap" setting may be helpful for decluttering as well. This option optimizes the display of retracement levels to minimize their overlap on other adjacent zones.
The script allows for up to 5 Fib levels to be displayed from each zone, with options for display, value, line style, and color for each of the 5.
The calculation for Fib Levels changes depending on the direction of market structure shifts. When an upwards (Bullish) zone is generated, the retracement is drawn with the bottom of the zone being 0 and the top of the zone being 1. This is reversed for downwards (Bearish) zones.
🔶 SETTINGS
Structure Length: Sets the SMC structure length to use for finding MMS.
Show Last: Displays this number of retracement zones. (Display All Zones Must be Unchecked)
Display All Zones: Ignores "Show Last" number and displays all historical MMS Retracement Zones.
Zone Display: Choose which zones to display, only bearish, only bullish, or both.
Clean-Up Level Overlap: Minimizes overlap between adjacent zones and levels.
Fib Levels: Settings to display and customize up to 5 Fib levels for each zone.
Alboncalc: Support and Resistance LevelsAlboncalc: Support and Resistance Levels
Description:
Alboncalc is an innovative TradingView indicator that identifies significant support and resistance levels based on patterns where two candles form equal highs and/or lows. This indicator automatically plots these critical levels on the chart, providing traders with clear visual cues of potential price reversal or consolidation points.
Originality and Usefulness:
Alboncalc stands out for its ability to detect specific candle patterns that indicate support and resistance, setting it apart from traditional support and resistance indicators. This specific method of price action analysis offers a unique and refined perspective for traders, adding value to the body of knowledge within the TradingView community.
How It Works:
Alboncalc analyzes historical prices to identify where two consecutive candles achieve equal highs or lows. When these conditions are met, the indicator automatically plots a support or resistance line on the chart. These levels are dynamically updated, ensuring that traders always have the most relevant and accurate information.
How to Use:
Installation: Add Alboncalc to your chart on TradingView.
Interpretation: Observe the plotted support and resistance lines. These lines indicate potential reversal or consolidation points.
Application: Use these levels to confirm breakout points or identify areas of price exhaustion. The clear visualization of technical levels helps enhance your trading strategies.
Underlying Concepts:
Alboncalc is based on price action analysis, focusing on specific candle patterns that signal important technical levels. The formation of two candles with equal highs or lows indicates a temporary balance between buyers and sellers, suggesting potential price direction changes.
Candle Body Support/Resistance [LuxAlgo]The Candle Body Support/Resistance indicator is a tool that provides Support/Resistance levels from high-volatility candles, a concept originally described by Steve Nison in "Beyond Candlesticks".
Users can define the candle body percentage used to set the detected support/resistance levels. Occurrences of price testing the returned levels are highlighted using user-customizable dots.
🔶 USAGE
Support/Resistance levels are drawn from volatile candles, that is candles having a body (range between opening and closing price) whose magnitude is larger than the Volatility Threshold , which is determined by the multiplicative factor of an ATR (Average True Range) using a user set length.
The level starts from the opening price +/- a percentage of the open-close range. Users can adjust the percentage of the candle body used as support/resistance levels respectively, with higher percentage values returning levels prone to get reached sooner by the price.
A test is considered valid when a wick passes through the Support/Resistance level while the closing price is not breaking it.
Two modes are included, Trailing and Historical , both affecting the displayed elements of the indicator, these are described in the sub-section below.
🔹 Historical
The Historical Mode will draw a separate line from every Volatile Candle . When this line is tested, a dot will be drawn.
In the above example, the red resistance line was tested once until a bullish volatile candle formed, which closed just below the resistance level. The resistance level was tested again, after which the newly created support level was broken quickly, and the price decreased. These levels proved helpful later, acting as resistance/support levels (illustrated by the extra manually drawn dashed white lines).
To prevent cluttering Support/Resistance , lines will be deleted when the line is mitigated and hasn't been tested.
When a Support/Resistance line reaches its Maximum Line Length , it will also be deleted when it has not been tested.
🔹 Trailing
When a new volatile candle of the same type (bullish/bearish) appears while the Support/Resistance isn't broken, this line will be updated with the values of the new volatile candle. This creates a trailing line and a less cluttered chart.
Unlike the Historical mode , a line will not be deleted after a while or when it is mitigated. Instead, the line won't be updated anymore. A new line will start from the next found volatile candle.
Using the same situation as the Historical Mode example, we can note the future significance of old support/resistance levels (illustrated by the extra manually drawn dashed white lines).
The user can switch between these 2 modes, each offering a unique perspective on the market. This provides a more in-depth examination of the market, enhancing the user's trading analysis.
Using a copy of our indicator while using both modes can also be helpful.
🔶 DETAILS
The Support level is the opening price of a bullish volatile candle plus a user-set percentage of the candle's body, while the Resistance level is the opening price of a bearish volatile candle minus a percentage of the candle's body.
The following example illustrates the ATR with the multiplicative factor (Volatility Threshold) where the body of Volatile candles exceeds the ATR limits. Changing the Volatility Threshold and ATR length gives users extra flexibility to adjust to their needs.
🔹 Max Line Length
When using the Historical Mode and the duration of a displayed level reaches the user-set Max Line Length value, the level will return to the last test or be deleted when it has not been tested.
🔶 SETTINGS
Display Mode: Display mode of the indicator.
Support %: Sets the distance of the Support Line from the opening price relative to the candle body.
Resistance %: Sets the distance of the Resistance Line from the opening price relative to the candle body.
🔹 Filter
Length ATR: Amount of bars for the calculation of the Average True Range.
Volatility Threshold: multiplicative factor of ATR.
Max Line Length: Maximum allowed duration/length (in bars) of a Support/Resistance level.
Spiral Levels [ChartPrime]SPIRAL LEVELS
⯁ OVERVIEW
The Spiral Levels [ ChartPrime ] indicator, designed for use on TradingView and developed with Pine Script™ , leveraging a combination of traditional pivot points and spiral geometry to visualize support and resistance levels on the chart. By plotting spirals from pivot points, the indicator provides a distinctive perspective on potential price movements.
It's an experiment inspired from spirals in the Pine documentation and the concept of using spirals to add padding/offsets to SR zones in a market (an idea we plan to expand on in the future).
◆ USAGE
● Identifying Pivot Points: The indicator identifies significant pivot highs and lows based on user-defined criteria.
● Filtered Pivot Points: Pivot points for spirals are filtered using volume and high/low thresholds to ensure they are significant.
● Spiral Visualization: Spirals are plotted from these pivots, indicating potential future support and resistance levels or as liquidity zones.
Additionally, the plotted levels can serve as liquidity zones where the price might attempt to grab liquidity, providing a deeper understanding of market behavior at significant volume levels.
● Volume-Based Coloring: Spirals are colored based on volume data, providing additional context about the strength of the price movement.
● Labeling and Line Extensions: Labels display volume information, and lines extend from the end of the spirals to the current bar for clarity.
● Spiral Rotation: By adjusting the "Number of spiral rotations" input, you can control the number of rotations each spiral makes around a pivot point, offering more detailed insights. This also allows you to control the distance of levels from a pivot. More rotations will extend the spiral further from the pivot point, potentially identifying support and resistance levels or liquidity zones at greater distances.
This modification emphasizes that the number of rotations not only provides more detailed insights but also affects the spatial distribution of the identified levels relative to the pivot point.
⯁ USER INPUTS
● Pivots
Left Bars: Determines the number of bars to the left of the pivot.
Right Bars: Determines the number of bars to the right of the pivot.
● Filter
Volume Filter: Sets the threshold for volume filtering.
High & Low Filter: Sets the threshold for filtering pivot highs and lows.
● Spiral
Spirals Shown: Specifies the number of spirals to be displayed on the chart.
Number of spiral rotations: Sets the number of rotations for each spiral.
X Scale: Adjusts the horizontal scale of the spirals.
Y Scale: Adjusts the vertical scale of the spirals, relative to the ATR(200).
Reverse Spirals: Option to reverse the direction of the spirals.
⯁ TECHNICAL NOTES
The indicator uses Pine Script's polyline feature for smooth spiral rendering.
It implements a custom cross detection function to manage line and label visibility.
The script is optimized to limit calculations to the last 1000 bars for performance.
It automatically manages the number of displayed elements to prevent clutter and ensure smooth performance.
The Spiral Levels ChartPrime indicator offers a unique and visually engaging method to identify potential support and resistance levels. By integrating volume data and pivot points with spiral geometry, traders can gain valuable insights into market dynamics and make more informed trading decisions.
Relative Equal Highs/LowsThis Pine script indicator is designed to create a visual representation of the relative equal highs & lows formed and automatically removed mitigated ones. Unlike indicators designed to show exact equal high/lows this indicator allows a small, configurable degree of variance between price to identify areas where price stops.
Relevance:
Relative Equal highs and lows can serve as valuable tools in identifying potential shifts in trend direction. They come into play when the price hits a support or resistance level and can’t advance further, signaling a possible reversal or pivot point. When the price sufficiently retreats from these levels, relative equal highs and lows can also indicate liquidity draws where buy/sell stops might be positioned, in accordance with SMC/ICT concepts.
How It Works:
The indicator tracks all unmitigated highs & lows within the chart’s present timeframe, limited to the user-defined max bars lookback for optimal performance. If the prices are within the configured variance they are marked as relatively equal and at that point are visually identified by a horizontal line, which connects the two (or more) points of price. Depending on configuration of the indicator, a line is rendered from the 1st, last or both values within the relatively equal range of price. A unique feature of this indicator is its ability to remove the line once the price mitigates the relative equal high/low by falling below the lows or rising above highs. This ensures the chart remains uncluttered and highlights only the currently relevant levels, setting it apart from other indicators providing similar functionality.
Configurability:
The indicator offers five style settings for complete customization of the lines that represent equal highs/lows. These settings include line style, color, and width, along with an option to extend the lines to the right of the chart for enhanced visibility of equal high/low levels. To optimize performance, the indicator allows users to configure the lookback length, determining how far back the price history should be examined. In most instances, the default setting of 500 bars proves more than adequate. Additionally, you can set thresholds via separate configs for stocks & indices that will determine if the price is relatively equal and lastly allow you to configure where the indicator line should be drawn, the first, last or all the values.
Additional notes:
This uses a different approach then my “equal highs/lows” indicator to identify price levels and because it focuses specifically on relative as opposed to exact values it is entirely different and may show “weaker”, but still important levels of liquidity. This indicator is more suited for analysis of stocks and indices or higher-timeframes where price-action rarely forms exact equal values instead more frequently forming almost equal values. My other indicator is more suited for smaller (15m or less) timeframe on indices where exact equal prices are often identical. Depending on situation different indicators should be used.
Log Regression Channel [UAlgo]The "Log Regression Channel " channel is useful for analyzing price trends and volatility in a financial instrument over a specified period. By using logarithmic scaling, this indicator can more effectively handle the wide range of price movements seen in many financial markets, making it particularly valuable for assets with exponential growth characteristics.
The indicator plots the central regression line along with upper and lower deviation bands, providing a visual representation of potential support and resistance levels.
🔶 Key Features
Logarithmic Regression Line: The central line represents the logarithmic regression, which fits the price data over the specified length using a logarithmic scale. This helps in identifying the overall trend direction.
Deviation Bands: The upper and lower bands are plotted at a specified multiple of the standard deviation from the regression line, highlighting areas of potential overbought and oversold conditions.
Customizable Parameters: Users can adjust the length of the regression, the deviation multiplier, the color of the labels, and the size of the text labels to suit their preferences.
R-Squared Display: The R-squared value, which measures the goodness of fit of the regression model, is displayed on the chart. This helps traders assess the reliability of the regression line.
🔶 Calculations
The indicator performs several key calculations to plot the logarithmic regression channel:
Logarithmic Transformation: The prices and time indices are transformed using the natural logarithm to handle exponential growth in price data.
Regression Coefficients: The slope and intercept of the regression line are calculated using the least squares method on the transformed data.
Predicted Values: The regression equation is used to calculate predicted values for each data point.
Standard Deviation: The standard deviation of the residuals (differences between actual and predicted values) is computed to determine the width of the deviation bands.
Deviation Bands: Upper and lower bands are plotted at a specified multiple of the standard deviation above and below the regression line.
R-Squared Value: The R-squared value is calculated to measure how well the regression line fits the data. This value is displayed on the chart to inform the user of the model's reliability.
🔶 Disclaimer
The "Log Regression Channel " indicator is provided for educational and informational purposes only.
It is not intended as investment advice or a recommendation to buy or sell any financial instrument. Trading financial instruments involves substantial risk and may not be suitable for all investors.
Past performance is not indicative of future results. Users should conduct their own research.
Fundur - Easy ZonesFundur Easy Zones Trading Indicator
The Fundur Easy Zones trading indicator is designed to simplify market analysis by visually marking critical trading zones. This tool helps traders identify optimal buy and sell areas based on historical price action, making it easier to make informed trading decisions.
Calculation Methodology
The Easy Zones indicator employs pivot point calculations combined with price action analysis and the Average True Range (ATR) to determine key trading zones. These zones are calculated by analyzing market volatility and price movements within each timeframe, allowing the identification of significant discount and premium levels.
Pivot Points: The indicator calculates pivot points based on the average of high, low, and close prices from previous periods. These pivot points serve as the foundational levels from which discount and premium zones are derived.
Price Action Analysis: Historical price data is scrutinized to identify patterns and behaviors that signify potential reversal points. This analysis helps in pinpointing zones where the market is likely to experience significant support (discount) or resistance (premium).
Average True Range (ATR): ATR is used to measure market volatility. By incorporating ATR into the calculations, the indicator adjusts the zone boundaries to reflect current market conditions, ensuring that the zones remain relevant and accurate. Higher ATR values indicate greater volatility and wider zones, while lower ATR values result in narrower zones.
Discount and Premium Levels: Based on the pivot points and ATR, the indicator calculates various tiers of discount and premium levels. These tiers (D1, D2, D3 for discounts and P1, P2, P3 for premiums) represent increasing levels of price deviation from the mean, providing traders with clear entry and exit points.
Features Overview
Zones Settings:
Zones History Length: Adjust the number of historical zones displayed on the chart to analyze past price behavior.
Levels Line Width: Customize the thickness of the zone lines for better visibility.
Structure Settings:
Show Fair Value: Display the fair value zone, providing a visual reference for equilibrium price levels. The fair value is calculated based on the median price over the selected period.
DP (Discount and Premium) Settings:
Enable Discount and Premium Levels: Activate the display of critical buy (discount) and sell (premium) zones. These zones are determined using price deviation analysis from the mean, identifying significant discount (support) and premium (resistance) levels.
Tiered Levels: Visualize up to three levels of discount and premium zones, each with specific target prices (TP1, TP2, TP3), representing different levels of price deviation significance.
Highlight Buy and Sell Zones:
Enable Background: Highlight the background of buy and sell zones for enhanced clarity.
Label Settings:
Enable All Labels: Ensure all labels are visible for quick reference.
Show Descriptive Title: Display titles for each zone, making it easier to understand the context.
Show Take Profit Targets (TP): Clearly mark take profit targets within each zone.
Show Price: Display price levels for each zone for precise entry and exit points.
Symbols Settings:
Fair Value, Premium, and Discount Indicators: Customize symbols to represent gaining or losing fair value, premium, and discount levels, enhancing visual cues for market sentiment.
How to Use the Easy Zones Indicator
Identifying Entry Points:
Use the Discount Zones to identify optimal buy areas. The levels (D1, D2, D3) represent increasing levels of discount, with D1 being the least discounted and D3 the most.
Place buy orders at or near these zones to take advantage of potential price reversals.
Identifying Exit Points:
Use the Premium Zones to identify optimal sell areas. The levels (P1, P2, P3) represent increasing levels of premium, with P1 being the least and P3 the highest.
Place sell orders at or near these zones to maximize profits on upward price movements.
Using Fair Value:
The Fair Value Zone provides a balanced price level where the market is likely to return. Use this as a reference point for setting realistic entry and exit targets.
Strategic Planning:
Combine Discount and Premium Zones with the Fair Value Zone to create a strategic trading plan.
Monitor the zones for price reactions and adjust your trading strategy accordingly.
Best Practices
Historical Analysis:
Regularly review historical price actions within the marked zones to understand market behavior.
Customization:
Adjust the settings to suit your trading style and market conditions. Experiment with different zone lengths and line widths for optimal clarity.
Risk Management:
Always use stop-loss orders in conjunction with the identified zones to manage risk effectively.
By integrating the Fundur Easy Zones indicator into your trading strategy, you can enhance your market analysis, make more informed decisions, and ultimately improve your trading performance.
Support and Resistance [CryptoSea]The Support and Resistance Indicator is a powerful tool developed by CryptoSea for traders seeking to identify key market levels with precision. This script leverages advanced pivot and volume analysis to highlight support and resistance zones on the price chart.
Key Features
Multi-Source Pivot Analysis: Choose between wicks or body prices for calculating pivot points, providing flexibility in market analysis.
Volume Spike Detection: Automatically identifies volume spikes using a customizable threshold multiplier, enhancing the accuracy of support and resistance levels.
Dynamic Box Display: Configurable options for extending and graying out boxes based on price interaction, ensuring a clear visual representation of active and invalidated zones.
In the example below, we see a resistance box formed based on wick highs and a volume spike. The box extends to where we see price rejecting from it. In the settings you can change this so the box will stop if price touches it if you prefer.
How it Works
Pivot Point Calculation: The script determines pivot highs and lows using either wicks or body prices over a specified term (Short, Medium, Long), corresponding to 5, 15, or 30 bars.
Volume Analysis: Calculates average volume over twice the pivot length and identifies volume spikes exceeding the user-defined threshold, crucial for confirming support and resistance levels.
Box Management: Maintains arrays of support and resistance boxes, limiting the number based on user settings (All, Recent Few, Recent Several).
Settings Explained
Source: Choose between 'Wicks' or 'Bodies' to determine whether pivot points are calculated using candle wicks or body prices.
Pivot Term: Select 'Short' (5 bars), 'Medium' (15 bars), or 'Long' (30 bars) to adjust the distance for pivot calculation. Longer terms take more bars to confirm support/resistance.
Volume Threshold (multiplier): Set a multiplier of average volume to detect volume spikes, essential for validating support/resistance levels.
Extend Until Price Hits: Enable this to extend support/resistance boxes until the price touches them, providing dynamic levels.
Gray Out Boxes Once Hit: Enable this to gray out the boxes once the price interacts with them, indicating that they are no longer active.
Max Boxes Displayed: Choose 'All', 'Recent Few' (up to 3 boxes each for bull and bear), or 'Recent Several' (up to 10 boxes each for bull and bear) to control the number of visible boxes.
Invalidate Condition: Select 'Touch' to invalidate a box when the price touches it or 'Through' to invalidate when the price passes entirely through the box.
Candle Colors: Option to color candles based on neutral, bullish, or bearish conditions for easier visual analysis.
Application
Strategic Planning: Assists traders in pinpointing potential entry and exit points by marking significant support and resistance zones.
Trend Confirmation: Validates trend strength and potential reversals with volume-based analysis of support and resistance levels.
Customizable Settings: Tailors analysis to various trading strategies with extensive input settings for pivot source, term, volume threshold, and display preferences.
The Support and Resistance Indicator by is an essential addition to any trader’s toolkit, offering robust and customizable market level analysis for improved trading decisions.
Support and Resistance (High Volume Boxes) [ChartPrime]Support and Resistance (High Volume Boxes)
◆ Overview:
The "Support and Resistance" indicator identifies key support and resistance levels using pivot points and volume analysis. It visually represents these levels with dynamically colored boxes, indicating the strength of the volume. This helps traders recognize potential price reversals and key zones for buy and sell opportunities.
◆ Key Features:
Dynamic Support and Resistance Boxes:
The indicator plots support and resistance boxes based on pivot points and volume above threshold for positive volume boxes and below lower threshold for negative volume boxes.
Box colors change from transparent to more intense based on volume, reflecting the strength of support or resistance.
Boxes expands until a new box of the same type appears.
Volume-Based Color Coding:
Boxes are color-coded based on the amount of volume:
Green boxes indicate support levels with positive volume.
Red boxes indicate resistance levels with negative volume.
Hold Signals:
Green diamonds (◆) indicate when support holds, signaling potential buy opportunities.
Red diamonds (◆) indicate when resistance holds, signaling potential sell opportunities.
Breakout Labels:
If the price falls below a support level, that level will become resistance. If the price rises above a resistance level, it will often become support. As the price moves past a level of support or resistance, it is thought that supply and demand has shifted, causing the breached level to reverse its role.
Labels "Break Sup" and "Break Res" are displayed when support or resistance levels are broken, indicating significant market movements.
◆ Break Resistance:
◆Break Support:
◆ Usage Notes:
This indicator helps traders identify strong support and resistance levels, offering visual cues for potential price reversals.
By analyzing volume at these levels, traders can gauge the strength of these zones and make more informed trading decisions.
◆ Settings:
Lookback Period: The number of bars to look back for pivot points.
Delta Volume Filter Length: The length of the volume filter for more accurate volume analysis. (Higher input, will filter low volume boxes)
Adjust Box Width: Adjusts the width of the support and resistance boxes.
This indicator is designed to enhance your trading by providing clear visual cues for support and resistance levels based on volume, making it easier to spot potential price reversals and key trading opportunities.
Percentage GridPercentage Grid Indicator
Description:
The Percentage Grid indicator is designed to assist traders in identifying significant support and resistance levels based on yearly percentage changes. This indicator plots horizontal lines on the chart from the start of the year, allowing you to customize how much percentage each line represents. Currently, you can set up to 5 horizontal lines, each representing a different percentage change from the beginning of the year.
For instance, when applied to the SBI Bank stock, you can customize the lines to display various percentage changes from the start of the year, such as 20%, 25%, and up to 35%, as the SBIN stock is currently trading around these levels. This visualization helps traders to easily identify key levels where price action tends to react, providing valuable insights for making trading decisions.
Principles of Trading Technical Analysis:
The Percentage Grid indicator is grounded in the principle of support and resistance levels, which are fundamental concepts in technical analysis. These levels are specific price points on a chart that tend to act as barriers, preventing the price from getting pushed in a certain direction. The indicator helps in:
Identifying Support Levels: Price levels where a downtrend can be expected to pause due to a concentration of buying interest.
Identifying Resistance Levels: Price levels where an uptrend can be expected to pause due to a concentration of selling interest.
By customizing and plotting percentage-based horizontal lines, the indicator highlights these critical levels based on the percentage change from the start of the year.
How to Use:
Add the Indicator to Your Chart:
Search for "Percentage Grid" in the TradingView indicator library and add it to your chart.
Customize Percentage Levels:
Access the indicator settings to customize the percentage change each line represents.
You can set up to 5 different percentage levels. For example, you can set lines at 20%, 25%, 30%, 35%, and 40%.
Interpret the Grid Lines:
The plotted lines will represent the specified percentage changes from the start of the year.
Use these lines to identify potential support and resistance levels where price action is likely to react.
Practical Application:
Look for price bounces or reversals around these levels, which can indicate strong support or resistance.
Combine the Percentage Grid with other technical analysis tools, such as moving averages or trend lines, to confirm potential trading opportunities.
Example:
In the accompanying screenshot, the Percentage Grid is applied to the SBI Bank stock. The lines are set to display 20%, 25%, 30%, 35%, and 40% changes from the start of the year. Notice how the price action respects these levels, providing clear areas where support and resistance are evident.
By incorporating the Percentage Grid into your trading strategy, you can enhance your ability to identify key price levels and make more informed trading decisions.
Happy Trading!
CARNAC Trading Support and Resistance LevelsOverview
The "Carnac Trading Support and Resistance Levels" indicator is a powerful tool designed to help traders identify key support and resistance levels across multiple timeframes. This tool enhances trading strategies by visually marking significant price levels and providing configurable stop-loss and alert features.
Features
Support and Resistance Levels: Automatically calculates and plots support and resistance levels for the following timeframes:
5 minutes (5M)
10 minutes (10M)
15 minutes (15M)
30 minutes (30M)
1 hour (1H)
2 hours (2H)
4 hours (4H)
6 hours (6H)
12 hours (12H)
1 day (1D)
1 week (1W)
1 month (1M)
Configurable Stop-Loss (SL) Levels: Adds a stop-loss line below each support level and above each resistance level with customizable padding (as a percentage).
Visual Labels: Clearly labels support, resistance, and stop-loss levels with the corresponding prices and timeframes for easy identification.
Line Customization:
Support Levels: Green lines with varying thickness based on the timeframe.
Resistance Levels: Red lines with varying thickness based on the timeframe.
Stop-Loss Levels: Gray dotted lines for clear distinction.
Alerts: Alerts trigger when the price gets to a configurable percentage from the support or resistance levels, helping you stay informed about potential buying and selling opportunities.
Visibility Toggling: Easily toggle the visibility of support and resistance levels for each timeframe (default enabled for 2H, 4H, and 1D).
How to Use
Add the Indicator:
Navigate to the TradingView Pine Editor.
Paste the provided Pine Script code and click "Add to Chart."
Configure Inputs:
Lookback Periods: Adjust the lookback periods for each timeframe to suit your analysis needs.
Padding Percentage: Set the padding percentage for the stop-loss levels to define the distance below the support levels and above the resistance levels.
Visibility: Toggle the visibility of the support and resistance levels for each timeframe as needed (default enabled for 2H, 4H, and 1D).
Alert Trigger Distance: Set the alert trigger distance as a percentage to determine when the alerts should be triggered.
Interpret the Plotted Levels:
Green Lines: Indicate support levels for the respective timeframes.
Red Lines: Indicate resistance levels for the respective timeframes.
Gray Dotted Lines: Represent the stop-loss levels below each support level and above each resistance level, with the specified padding.
Labels: Provide clear indications of the price levels and their respective timeframes in white text for visibility.
Identifying Buying and Selling Opportunities:
Buying Opportunities:
Look for the price to approach or bounce off a support level (green line).
Confirm the potential for a reversal by checking if the price is nearing a key support level from multiple timeframes.
Use the stop-loss level (gray dotted line) to set your stop-loss order below the support level to minimize risk.
Selling Opportunities:
Look for the price to approach or get rejected at a resistance level (red line).
Confirm the potential for a reversal by checking if the price is nearing a key resistance level from multiple timeframes.
Use the stop-loss level (gray dotted line) to set your stop-loss order above the resistance level to minimize risk.
Alerts:
Alerts will notify you when the price gets within the specified percentage distance from each support or resistance level.
Use these alerts to stay informed about potential buying and selling opportunities.
