Auto Fibonacci Supports [ProjeAdam]OVERVIEW
The Auto Fibonacci Supports indicator is designed for financial market analysis, particularly in identifying key support levels.
USER GUIDE:
The Auto Fibonacci Supports indicator is designed to identify key support levels based on the Fibonacci retracement theory. These levels are significant in technical analysis as potential areas where price movement can stall or reverse.
Customization
Users can activate or deactivate each support level and customize their color, enhancing the visual distinction on the chart
Setting Support Levels: The indicator allows users to set four distinct Fibonacci support levels.
These levels are defined as percentages and can be input using the input.float function. For example, the default values are set at 0.5, 0.618, 0.705, and 0.786 for the first, second, third, and fourth support levels, respectively.
Users can adjust these percentages according to their trading strategies.
Using Support Levels: These support levels are calculated based on the highest and lowest price values over a defined period (fib_support_length). The script calculates each support level by applying the Fibonacci ratio to the range between the highest and lowest prices.
The support levels are then plotted on the trading chart, offering a visual representation of potential support points where the price might experience resistance or reversal.
VİSUALİZATİON
Using pick signal Levels: The "pick signal level" feature in the Auto Fibonacci Supports indicator is designed to help traders identify specific price points where a trading signal might be generated.
This feature likely enables traders to choose a particular Fibonacci support level at which they might consider executing a trade.
By selecting a specific level, traders can focus on significant price points that align with their trading strategy, such as looking for potential buy or sell signals when the price of an asset reaches these key Fibonacci levels.
This helps in refining trading decisions and focusing on critical price movements.
LANGUAGE
The purpose of the "lang setting" is to provide language customization for the user interface.
This setting allows users to select their preferred language for the display of text and labels within the indicator.
Such a feature is particularly useful in making the tool accessible to a wider range of users from different linguistic backgrounds, enhancing user experience and understanding of the indicator's functionalities.
By offering multiple language options, the indicator becomes more versatile and user-friendly for traders around the globe.
Opportunity to examine different parities on the same chart
The script includes a section for setting up various pairs (like BTCUSDT, ETHUSDT, etc.) that users can select or deselect for analysis.
This feature enables traders to apply the Fibonacci support levels across multiple markets, allowing for comparative analysis and broader market insight.
By analyzing different pairs, traders can identify opportunities and patterns across various assets, enhancing their trading strategies.
This multipair functionality is particularly useful in diversified trading approaches.
ALGORITHM
In the "Auto Fibonacci Supports" indicator, calculating the high and low values is a crucial step.
This process involves identifying the highest and lowest price points of a financial instrument within a specific time frame, determined by the fib_support_length parameter.
The indicator scans historical data over this period to find these extreme values.
These high and low points serve as the reference for calculating the Fibonacci support levels, as they represent the full range of price movement in the selected time frame.
The accuracy and relevance of the support levels depend significantly on the correct identification of these high and low values.
Example
In this example, we can see the parities that fell below the first support level in the table, so we have the opportunity to quickly evaluate these parities.
Benefits
This indicator automates the process of identifying Fibonacci support levels, which can be a time-consuming task if done manually.
It offers traders customizable settings to adapt to different trading strategies and assets.
The visual representation on charts can help in making quicker and more informed trading decisions based on Fibonacci retracement levels.
If you have any ideas what to add to my work to add more sources or make calculations cooler, suggest in DM .
Supports
Adaptive MFT Extremum Pivots [Elysian_Mind]Adaptive MFT Extremum Pivots
Overview:
The Adaptive MFT Extremum Pivots indicator, developed by Elysian_Mind, is a powerful Pine Script tool that dynamically displays key market levels, including Monthly Highs/Lows, Weekly Extremums, Pivot Points, and dynamic Resistances/Supports. The term "dynamic" emphasizes the adaptive nature of the calculated levels, ensuring they reflect real-time market conditions. I thank Zandalin for the excellent table design.
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Chart Explanation:
The table, a visual output of the script, is conveniently positioned in the bottom right corner of the screen, showcasing the indicator's dynamic results. The configuration block, elucidated in the documentation, empowers users to customize the display position. The default placement is at the bottom right, exemplified in the accompanying chart.
The deliberate design ensures that the table does not obscure the candlesticks, with traders commonly situating it outside the candle area. However, the flexibility exists to overlay the table onto the candles. Thanks to transparent cells, the underlying chart remains visible even with the table displayed atop.
In the initial column of the table, users will find labels for the monthly high and low, accompanied by their respective numerical values. The default precision for these values is set at #.###, yet this can be adjusted within the configuration block to suit markets with varying degrees of volatility.
Mirroring this layout, the last column of the table presents the weekly high and low data. This arrangement is part of the upper half of the table. Transitioning to the lower half, users encounter the resistance levels in the first column and the support levels in the last column.
At the center of the table, prominently displayed, is the monthly pivot point. For a comprehensive understanding of the calculations governing these values, users can refer to the documentation. Importantly, users retain the freedom to modify these mathematical calculations, with the table seamlessly updating to reflect any adjustments made.
Noteworthy is the table's persistence; it continues to display reliably even if users choose to customize the mathematical calculations, providing a consistent and adaptable tool for informed decision-making in trading.
This detailed breakdown offers traders a clear guide to interpreting the information presented by the table, ensuring optimal use and understanding of the Adaptive MFT Extremum Pivots indicator.
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Usage:
Table Layout:
The table is a crucial component of this indicator, providing a structured representation of various market levels. Color-coded cells enhance readability, with blue indicating key levels and a semi-transparent background to maintain chart visibility.
1. Utilizing a Table for Enhanced Visibility:
In presenting this wealth of information, the indicator employs a table format beneath the chart. The use of a table is deliberate and offers several advantages:
2. Structured Organization:
The table organizes the diverse data into a structured format, enhancing clarity and making it easier for traders to locate specific information.
3. Concise Presentation:
A table allows for the concise presentation of multiple data points without cluttering the main chart. Traders can quickly reference key levels without distraction.
4. Dynamic Visibility:
As the market dynamically evolves, the table seamlessly updates in real-time, ensuring that the most relevant information is readily visible without obstructing the candlestick chart.
5. Color Coding for Readability:
Color-coded cells in the table not only add visual appeal but also serve a functional purpose by improving readability. Key levels are easily distinguishable, contributing to efficient analysis.
Data Values:
Numerical values for each level are displayed in their respective cells, with precision defined by the iPrecision configuration parameter.
Configuration:
// User configuration: You can modify this part without code understanding
// Table location configuration
// Position: Table
const string iPosition = position.bottom_right
// Width: Table borders
const int iBorderWidth = 1
// Color configuration
// Color: Borders
const color iBorderColor = color.new(color.white, 75)
// Color: Table background
const color iTableColor = color.new(#2B2A29, 25)
// Color: Title cell background
const color iTitleCellColor = color.new(#171F54, 0)
// Color: Characters
const color iCharColor = color.white
// Color: Data cell background
const color iDataCellColor = color.new(#25456E, 0)
// Precision: Numerical data
const int iPrecision = 3
// End of configuration
The code includes a configuration block where users can customize the following parameters:
Precision of Numerical Table Data (iPrecision):
// Precision: Numerical data
const int iPrecision = 3
This parameter (iPrecision) sets the precision of the numerical values displayed in the table. The default value is 3, displaying numbers in #.### format.
Position of the Table (iPosition):
// Position: Table
const string iPosition = position.bottom_right
This parameter (iPosition) sets the position of the table on the chart. The default is position.bottom_right.
Color preferences
Table borders (iBorderColor):
// Color: Borders
const color iBorderColor = color.new(color.white, 75)
This parameters (iBorderColor) sets the color of the borders everywhere within the window.
Table Background (iTableColor):
// Color: Table background
const color iTableColor = color.new(#2B2A29, 25)
This is the background color of the table. If you've got cells without custom background color, this color will be their background.
Title Cell Background (iTitleCellColor):
// Color: Title cell background
const color iTitleCellColor = color.new(#171F54, 0)
This is the background color the title cells. You can set the background of data cells and text color elsewhere.
Text (iCharColor):
// Color: Characters
const color iCharColor = color.white
This is the color of the text - titles and data - within the table window. If you change any of the background colors, you might want to change this parameter to ensure visibility.
Data Cell Background: (iDataCellColor):
// Color: Data cell background
const color iDataCellColor = color.new(#25456E, 0)
The data cells have a background color to differ from title cells. You can configure this is a different parameter (iDataColor). You might even set the same color for data as for the titles if you will.
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Mathematical Background:
Monthly and Weekly Extremums:
The indicator calculates the High (H) and Low (L) of the previous month and week, ensuring accurate representation of these key levels.
Standard Monthly Pivot Point:
The standard pivot point is determined based on the previous month's data using the formula:
PivotPoint = (PrevMonthHigh + PrevMonthLow + Close ) / 3
Monthly Pivot Points (R1, R2, R3, S1, S2, S3):
Additional pivot points are calculated for Resistances (R) and Supports (S) using the monthly data:
R1 = 2 * PivotPoint - PrevMonthLow
S1 = 2 * PivotPoint - PrevMonthHigh
R2 = PivotPoint + (PrevMonthHigh - PrevMonthLow)
S2 = PivotPoint - (PrevMonthHigh - PrevMonthLow)
R3 = PrevMonthHigh + 2 * (PivotPoint - PrevMonthLow)
S3 = PrevMonthLow - 2 * (PrevMonthHigh - PivotPoint)
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Code Explanation and Interpretation:
The table displayed beneath the chart provides the following information:
Monthly Extremums:
(H) High of the previous month
(L) Low of the previous month
// Function to get the high and low of the previous month
getPrevMonthHighLow() =>
var float prevMonthHigh = na
var float prevMonthLow = na
monthChanged = month(time) != month(time )
if (monthChanged)
prevMonthHigh := high
prevMonthLow := low
Weekly Extremums:
(H) High of the previous week
(L) Low of the previous week
// Function to get the high and low of the previous week
getPrevWeekHighLow() =>
var float prevWeekHigh = na
var float prevWeekLow = na
weekChanged = weekofyear(time) != weekofyear(time )
if (weekChanged)
prevWeekHigh := high
prevWeekLow := low
Monthly Pivots:
Pivot: Standard pivot point based on the previous month's data
// Function to calculate the standard pivot point based on the previous month's data
getStandardPivotPoint() =>
= getPrevMonthHighLow()
pivotPoint = (prevMonthHigh + prevMonthLow + close ) / 3
Resistances:
R3, R2, R1: Monthly resistance levels
// Function to calculate additional pivot points based on the monthly data
getMonthlyPivotPoints() =>
= getPrevMonthHighLow()
pivotPoint = (prevMonthHigh + prevMonthLow + close ) / 3
r1 = (2 * pivotPoint) - prevMonthLow
s1 = (2 * pivotPoint) - prevMonthHigh
r2 = pivotPoint + (prevMonthHigh - prevMonthLow)
s2 = pivotPoint - (prevMonthHigh - prevMonthLow)
r3 = prevMonthHigh + 2 * (pivotPoint - prevMonthLow)
s3 = prevMonthLow - 2 * (prevMonthHigh - pivotPoint)
Initializing and Populating the Table:
The myTable variable initializes the table with a blue background, and subsequent table.cell functions populate the table with headers and data.
// Initialize the table with adjusted bgcolor
var myTable = table.new(position = iPosition, columns = 5, rows = 10, bgcolor = color.new(color.blue, 90), border_width = 1, border_color = color.new(color.blue, 70))
Dynamic Data Population:
Data is dynamically populated in the table using the calculated values for Monthly Extremums, Weekly Extremums, Monthly Pivot Points, Resistances, and Supports.
// Add rows dynamically with data
= getPrevMonthHighLow()
= getPrevWeekHighLow()
= getMonthlyPivotPoints()
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Conclusion:
The Adaptive MFT Extremum Pivots indicator offers traders a detailed and clear representation of critical market levels, empowering them to make informed decisions. However, users should carefully analyze the market and consider their individual risk tolerance before making any trading decisions. The indicator's disclaimer emphasizes that it is not investment advice, and the author and script provider are not responsible for any financial losses incurred.
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Disclaimer:
This indicator is not investment advice. Trading decisions should be made based on a careful analysis of the market and individual risk tolerance. The author and script provider are not responsible for any financial losses incurred.
Kind regards,
Ely
Support and Resistancewhat is "Support and Resistance"?
it is a support and resistance indicator.
what it does?
it draw support and resistance zones on the chart.
how it does it?
It determines the zones where the price leaves with a big candle after going horizontal for a while as support or resistance zones according to the price movement direction. while doing this, it compares the size of the candles and the elapsed time.
how to use it?
Red zones represent resistance and green zones represent support. You can buy in the support zone or sell in the resistance zone. my advice is to make your own interpretation by taking into account the price movement with different indicators. they are considered useful if there is a closure beyond the zones. otherwise, they continue to be shifted to the right.
notice: As new zones are created, old ones may disappear. so it might be wise to draw boxes using drawing tools where the old zones are.
Support and resistance are very important concepts for technical analysis. so I am thinking of updating and improving this indicator many times in the long run. but I couldn't wait long to post it.
examples:
Ywaves S/RYwaves identifies areas of extreme volatility that are out of the ordinary and highlights them for the trader. These areas are de facto areas of great interest for the market and therefore areas to monitor and work on. Thanks to a smoothing formula, it eliminates false positives that are sometimes too frequent and inconsistent.
This script uniquness reside in the formula used to determine the supports and resistances, by using multiple volatility tools, it is able to eliminate false positives and only keep interesting S/R.
The blue and orange S/Rs (secondary S/Rs) are echoes of the green/red S/Rs (main S/Rs) that are close (to the current price) to the past. There are a maximum of 5 levels of secondary S/R on either side of the price. The intensity of the color and the strength of the line also gives information about the proximity and importance of the S/R. When the blue/orange dots are connected, it means that it is the same S/R from the past that continues to be at the same level.
It is possible to use Ywaves in several ways: by using the main S/R, secondary S/R or clusters formed by the different S/R. Of course, the trader is free to work on other ways of using them. Thanks to the different settings, the trader can quickly display the supports and resistances close (in terms of price) to the past. The objective is once again to simplify the trader's life on a daily basis.
Support & Resistance[VTA]Description:
This indicator uses pivot points to draw support and resistance for you in different timeframes.
It also shows you the decrease in the increase of the currency compared to the resistance and support line, and you can see the end of the failures by the label.
Manufacturer:
This indicator was designed and developed by the VTA team.
MTF S/R + PVSRAA simple tool to find Support and Resistance.
List of features:
-MTF Support and Resistance
-VWAP
-PVSRA Candles
Usage instructions:
There are 4 boxes, each individual box can be assigned a separate time. The lookback period setting is used to specify the number of candles that you want to look back.
The highesthigh and the lowestlow are now displayed as the support and resistance line of the respective lookback period.
In addition to the support and resistance lines, fibonacci levels are calculated from top to bottom (resistance) and from bottom to top (support). These levels can be switched on and off using the "Fibb Level" button.
PVSRA candle colors meaning:
Green (bull) and red (bear): Candles with volume >= 200% of the average volume of the 10 previous chart candles, and candles where the product of candle spread x candle volume is >= the highest for the 10 previous chart time candles.
Blue (bull) and blue-violet (bear): Candles with volume >= 150% of the average volume of the 10 previous chart candles
The PVSRA can be turned on and off using the "Vector Candle" button.
PVSRA "vector"/"climax" candles
example for the Fibb LvL
Multi Oscillators Price LevelsThis script draws price levels corresponding to the highest price reached in overbought situations, and the lowest price reached in oversold situations, depending on the oscillator and the timeframe the user has configured.
These levels correspond, most of time, to good supports and resistances prices.
Price levels drawings can be based on the following indicators:
Stochastic RSI (default)
Stochastic CCI
RSI
CCI
You can customize this indicator with the following options:
Source: The candle source to use in indicators calculation
Source Indicator: The indicator on which you cant to base your levels
Timeframe: The timeframe on which you want to apply the selected indicator, and calculate levels
Show supports/resistances: enable/disable price levels, depending on there status (overbought - resistances) / (oversold - supports)
Lines width: width of price levels. (set to 10 by default in order to draw "zones")
Supports/Resistances source: Select the candle data you cant to use to draw supports and resistances levels
Extend levels: Select the line extension for price levels
Levels color: Select the desired color for price levels
And of course , all parameters corresponding to the supported indicators (Stoch, RSI, CCI)
Here are a few examples of different configurations:
This script will probably be modified in the future, don't hesitate to suggest any improvement.
High Volume Price Levels x3This script detects recent huge volume areas to help you finding out good support and resistance levels.
For each of the 3 periods (defaults : 100, 200, 500) a new line will be drawn from the last time the volume amount exceeded n% (default 99%) of the highest volume on the same period, to the next occurence.
Most of time, these lines represent strong support and resistance levels which can be helpful in your technical analysis.
Options:
Volume trigger level: represents the minimum % of the highest volume within the given period on which you want to draw a new price level. (But higher this % is, stronger the levels will be)
Periods: The reference periods for high volume detection.
Show period: Enable/Disable the use of any period.
Period Color: Select a color correspondig to each period.
Show current levels only: Disable drawing of previous levels, to display current levels only.
Extend last level: Extend current lines to right/left/both or none sides of your chart.
Notes:
Sometimes, the last detected level from every periods can be the same at the same moment. In this situation, you'll only see one or two of the lines instead of three.
I'd like to figure out how to continuously draw every interesting levels without making the chart unreadable. Of course this script will be updated if I find a good way to do it.
Feel free to suggest any improvements/modifications.
Example:
Performante's Golden Ratio SupportsThis dataset projects the MA for BTC divided by the golden ratio (1.6) as well as the Fibonacci sequence (0, 1, 1, 2, 3, 5, 8, etc).
These numbers are intertwined with markets, and have been an effective support level for key inflection points for Bitcoin's lows.
This indicator is mainly focused on the large timeframe and is set to work best on the daily timeframe . The daily is it's primary use-case.
As the market cap of BTC continues to grow, it will become progressively more and more difficult to grow at the previous appreciation rate.
This slowing growth in the market cap is demonstrated by the Fibonacci sequence support levels that are keeping the price from total capitulation dump like previous bear markets.
As we can see, the dark green MA is a great area for potential buy opportunities, while the lime green (on the bottom) have only been touched a couple times. This is a major capitulation for BTC and the crypto market.
These zones are great opportunities for investment entries as they are relatively low compared to the historic price action.
Toltecas Tendencies, Supports and Resistances V2Trend Lines, Supports and Resistances.
Triangles indicators for confirmations buy/sell.
Use for binaries (1M-3M-5M)
- LRG_Channel_TF_mins_D_W_M = 30
- Range = 1
- SML_Channel_TF_mins_D_W_M = 240
Use for forex/cryptocurrencies/indices (15M-1H-4H)
- LRG_Channel_TF_mins_D_W_M = D
- Range = 1
- SML_Channel_TF_mins_D_W_M = W
Pivot Zones - Support and Resistance AreasAdaptive Pivot Zones (with 4 each support and resistance areas and a main pivot zone).
Coding and Copyright by Spreadburn / Daily Alpha.
