TASC 2024.09 Precision Trend Analysis█ OVERVIEW
This script introduces an approach for detecting and confirming trends in price series based on digital signal processing principles, as presented by John Ehlers in the "Precision Trend Analysis" article from the September 2024 edition of TASC's Traders' Tips .
█ CONCEPTS
Traditional trend-following indicators, such as moving averages , are lowpass filters that pass low-frequency components in a series and remove high-frequency components. Because lowpass filters preserve lengthy cycles in the data while attenuating shorter cycles, such filters have unavoidable lag that impacts the timeliness of trading signals.
In his article, John Ehlers presents an alternative approach that combines two highpass filters with different lengths to remove undesired high-frequency content via cancellation . Highpass filters have nearly zero lag. As such, the resulting trend indicator from this approach is very responsive to changes in the price series, with peaks and valleys that closely align with those of the price data. The indicator signifies an uptrend when its value is positive (i.e., above the balance point) and a downtrend when it is negative.
Subsequently, John Ehlers demonstrates that one can use the trend indicator's rate of change (ROC) to determine the onset of new trend movements. The ROC is zero at peaks and valleys in the trend indicator. Therefore, when the ROC crosses above zero, it signifies the onset or continuation of an uptrend. Likewise, the ROC crossing below zero indicates the onset or continuation of a downtrend. Note, however, that because the ROC does not preserve lower-frequency information, it can produce whipsaw trading signals in sideways or continuously trending price series.
This script implements both the trend indicator and its ROC along with the following on-chart signals:
• Green and red arrows that indicate the possible onset or continuation of an uptrend and downtrend, respectively
• Bar and plot colors that signify the sign (direction) of the trend indicator
█ CALCULATIONS
The math behind the trend indicator comes from digital filter design principles. The first step applies a digital highpass filter that attenuates long cycles with periods above the user-specified critical period. The default value is 250 bars, representing roughly one year for instruments such as stocks on the daily timeframe. The next step applies a highpass filter with a shorter period (40 bars by default). The difference between these filters determines the trend indicator, which preserves cyclic components between 40 and 250 bars by default while attenuating and eliminating others. The ROC represents the scaled one-bar difference in the trend indicator.
Трендовый анализ
Forex Session Tracker [MacroGlide]Forex Session Tracker is a tool designed to track and visualize trading activity across the four key Forex market sessions: New York, London, Tokyo, and Sydney. The indicator helps traders see the time intervals of each session, their impact on price movements, and analyze volatility within these sessions.
Key Features:
• Session Visualization: The indicator highlights price ranges during the New York, London, Tokyo, and Sydney sessions using different colors, making data easier to visually interpret and analyze. Users can customize the color scheme for each session.
• Price Change Analysis: The indicator tracks the opening prices of each session and calculates the price changes by the session's close. This allows traders to assess market dynamics within each session and make informed trading decisions.
• Average Price Changes: The average price change for a specified number of sessions is calculated for each session, helping to identify trends and volatility levels.
• Time Zone Support: The indicator takes into account time zones, allowing users to adjust the display according to their location or use the market's time zone.
• Interactive Dashboard: The built-in dashboard shows the status of each session in real-time (active or inactive), recent price changes, and average changes, providing quick access to key information directly on the chart.
How to Use:
• Add the indicator to your chart and configure the displayed sessions according to your needs.
• Use color differentiation to easily identify active trading sessions and assess their impact on price movements.
• Monitor price changes in each session and analyze averages for a deeper understanding of market trends.
Methodology:
The indicator uses the time intervals of each trading session to calculate and display opening prices, price ranges, and price changes for the session. Based on this data, the Forex Session Tracker visualizes the session's high and low prices and calculates the average price change over the last several sessions. All data is displayed in real-time, considering the user's time zone settings or the market's time zone.
Originality and Usefulness:
Forex Session Tracker stands out for its ability to combine price change information from several key trading sessions into one indicator, providing traders with a simple and clear way to analyze market activity across different time zones.
Charts:
The indicator displays clean and clear charts, where each trading session is highlighted with its own color, making visual interpretation easier. The charts focus only on essential information for analysis: opening prices, session ranges, and price changes. The integrated dashboard provides quick access to key session metrics, such as activity status, recent price changes, and average values for the selected period. These features make the charts highly useful for rapid analysis and trading decision-making.
Enjoy the game!
[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.
10-Year CAGR Calculator: Uncover Long-Term Growth TrendsThis script calculates the Compound Annual Growth Rate (CAGR) over a 10-year period or the maximum available historical data for any asset. The calculated growth rate is displayed as a label on the last bar of the chart.
Ideal for investors and analysts, this tool helps you easily visualize and assess the long-term growth potential of your investments, providing valuable insights into the historical performance of any asset over an extended period.
Uptrick: Imbalance MA Trailing System
### **Overview**
The "Uptrick: Imbalance MA Trailing System" is a complex trading indicator designed to help traders identify potential bullish and bearish imbalances in the market, coupled with a trailing stop mechanism to manage trades. The indicator uses a combination of moving averages, Average True Range (ATR), and custom logic to detect trading signals and plot various levels on the chart to assist traders in making informed decisions.
### **Key Components and Functionality**
#### 1. **Inputs and Configuration**
- **Imbalance Filter (`imbalanceFilter`)**: This input sets the filter for detecting imbalances based on the difference between two price points. The value is a float and can be adjusted to fine-tune the sensitivity of imbalance detection. The default value is `0.0`, with a step size of `0.1`.
- **Moving Average Settings (`maLength1`, `maLength2`, `maColor1`, `maColor2`)**:
- `maLength1` and `maLength2` define the lengths of the two moving averages used in the indicator. By default, they are set to `50` and `200` periods, respectively.
- `maColor1` and `maColor2` specify the colors of these moving averages on the chart. The first MA is colored blue, and the second is red.
- **Take Profit and Stop Loss Settings (`displayTP`, `tpMultiplier`, `tpColor`, `displaySL`, `slMultiplier`, `slColor`)**:
- `displayTP` and `displaySL` are boolean inputs that control whether the TP and SL areas are displayed on the chart.
- `tpMultiplier` and `slMultiplier` are multipliers used to calculate the TP and SL levels relative to the detected imbalance level using the ATR value.
- `tpColor` and `slColor` define the colors of these areas. The TP area is green (with a transparency of 50), and the SL area is red (with a transparency of 50).
- **Trailing Stop Settings (`trailMultiplier`)**: This setting determines the multiplier used to calculate the trailing stop level based on the ATR value. The default multiplier is `2.5`.
- **Style Settings (`bullishColor`, `bearishColor`)**:
- `bullishColor` and `bearishColor` set the colors for bullish and bearish zones created when an imbalance is detected. The bullish zone is green, and the bearish zone is red.
- **Signal Label Size (`labelSizeOption`)**: The size of the signal labels displayed on the chart can be adjusted. The options include `Tiny`, `Small`, `Normal`, `Large`, and `Huge`. The selected size affects the visual prominence of the labels.
#### 2. **ATR Calculation (`atrValue`)**
- The ATR value is calculated using a period of 14, which is a standard setting for measuring market volatility. This value is used extensively throughout the indicator to calculate TP, SL, and trailing stop levels.
#### 3. **Imbalance Detection and Zone Creation**
- The indicator detects potential imbalances in the market by comparing certain price points, using a custom function (`imbalanceCondition`).
- **Bullish Imbalance Detection (`bullishSignal`)**:
- A bullish imbalance is detected when the low of three bars ago is higher than the high of one bar ago, and the current close is above the low of three bars ago.
- Additional conditions include checking that the current close is above the calculated average of the two moving averages (`ma1` and `ma2`), and that the imbalance exceeds the threshold set by the `imbalanceFilter`.
- **Bearish Imbalance Detection (`bearishSignal`)**:
- A bearish imbalance is detected under conditions where the low of one bar ago is higher than the high of three bars ago, and the current close is below the high of three bars ago.
- Like the bullish signal, the close must also be below the average of the two moving averages, and the imbalance must exceed the `imbalanceFilter` threshold.
- Upon detection of an imbalance (either bullish or bearish), the indicator creates a zone using `box.new` that highlights the price range of the imbalance. The box color corresponds to the bullish or bearish nature of the signal.
- The center of the imbalance range is marked with a dashed line, and a corresponding label (`🔴` for bearish and `🟢` for bullish) is placed on the chart to indicate the detected signal.
#### 4. **Take Profit and Stop Loss Calculation (`calculateTPSL`)**
- When an imbalance is detected, the indicator calculates potential TP and SL levels based on the ATR value and the respective multipliers.
- If the TP or SL areas are enabled, the indicator plots these areas as colored boxes on the chart.
- The function also tracks whether these levels are hit by subsequent price action, updating the status (`reached`) as appropriate.
#### 5. **Trailing Stop Logic (`applyTrailingStop`)**
- The trailing stop feature is a dynamic mechanism that adjusts the stop level as the price moves in the trader's favor.
- The trailing stop is calculated using the ATR value multiplied by the `trailMultiplier`.
- If the trailing stop is triggered (i.e., the price crosses the trailing stop level), the indicator marks the trade as stopped out.
#### 6. **Plotting and Visualization**
- The indicator plots the two moving averages on the chart with the specified colors and line width.
- If a trailing stop is active, it plots the trailing stop level on the chart, updating as the stop moves.
- The bar color changes based on the status of the current signal and whether the trailing stop or TP/SL levels have been hit.
### **Detailed Execution Flow**
1. **Initialization**: The indicator initializes several variables, including lines, boxes, and the current signal state. This setup ensures that the script can dynamically update these elements as new price data comes in.
2. **Moving Average Calculation**: The moving averages (`ma1` and `ma2`) are calculated using simple moving average (SMA) functions, which are foundational for many of the indicator's conditions.
3. **Imbalance Detection**: The script evaluates price action to detect potential bullish or bearish imbalances, applying filters based on the user-defined `imbalanceFilter`.
4. **Zone Creation and Labeling**: Upon detecting an imbalance, the script creates visual zones on the chart using the `box.new` function and labels the zones for easy identification.
5. **Take Profit and Stop Loss Logic**: The TP and SL areas are calculated and plotted if the relevant settings are enabled. The script continuously checks if these levels are reached as new bars form.
6. **Trailing Stop Calculation**: The script dynamically adjusts the trailing stop level based on the price movement and ATR value. The trailing stop helps lock in profits as the trade progresses.
7. **Plotting**: The moving averages, trailing stop levels, and bar colors are plotted on the chart, providing a visual representation of the indicator's signals and trade management levels.
8. **Final Checks and Updates**: The script concludes each bar's processing by updating the status of various elements, such as whether levels have been reached or if the trailing stop has been triggered.
### **Conclusion**
The "Uptrick: Imbalance MA Trailing System" is a highly versatile indicator designed for traders who want to identify market imbalances and manage their trades effectively using a combination of moving averages, ATR-based calculations, and custom logic. The indicator offers a wide range of customization options, allowing traders to adjust the sensitivity of imbalance detection, the size of the signal labels, and the visibility of various trade management levels (TP, SL, and trailing stop).
The combination of these features makes it a powerful tool for both novice and experienced traders, providing clear visual cues and robust trade management capabilities directly on the chart.
False Breakouts [TradingFinder] Fake Breakouts Failure🔵 Introduction
Technical indicators are essential tools for analysts and traders in financial markets, helping them predict price movements and make better trading decisions. One of the key concepts in technical analysis that should be carefully considered is the "False Breakout."
This phenomenon occurs when a price temporarily breaks through a significant support or resistance level but fails to hold and quickly returns to its previous range. Understanding this concept and applying it in trading can reduce risks and increase profitability.
🟣 What is a False Breakout?
A Fake Breakout, as the name suggests, refers to a breakout that appears to occur but fails to sustain, leading the price to quickly revert back to its previous range. This situation often happens when inexperienced or non-professional traders, under psychological pressure and eager to enter the market quickly, initiate trades.
This creates opportunities for professional traders to take advantage of these short-term fluctuations and execute successful trades.
🟣 The Importance of Recognizing False Breakouts
Recognizing False Breakouts is crucial for any trader aiming for success in financial markets. False Breakouts typically occur when the market approaches a critical support or resistance level.
In these situations, many traders are waiting to see if the price will break through this level. However, when the price quickly returns to its previous range, it indicates weakness in the movement and the inability to sustain the breakout.
🟣 How to identify False Breakouts?
To identify Fake Breakouts, it is important to carefully analyze price charts and look for signs of a quick price reversal after breaking a key level.
Here are some chart patterns that may help you identify a False Breakout :
1. Pin Bar Pattern : The Pin Bar is a candlestick pattern that indicates a price reversal. This pattern usually appears near support and resistance levels, showing that the price attempted to break through a key level but failed and reversed.
2. Fakey Pattern : This pattern, which consists of several candlesticks, indicates a False Breakout and a quick price return to the previous range. It usually appears near key levels and can signal a trend reversal.
3. Using Multiple Timeframes : One way to identify False Breakouts is by using charts of different timeframes. Sometimes, a breakout on a one-hour chart may be a False Breakout on a daily chart. Analyzing charts across multiple timeframes can help you accurately identify this phenomenon.
🔵 How to Use
Once you identify a False Breakout, you can use it as a trading signal. For this, it is best to look for trading opportunities in the opposite direction of the False Breakout. In other words, if a False Breakout occurs at a resistance level, you might consider selling opportunities, and if it happens at a support level, you might look for buying opportunities.
Here are some key points for trading based on False Breakouts :
1. Patience and Discipline : Patience and discipline are crucial when trading with False Breakouts. Wait for the False Breakout to clearly form before entering a trade.
2. Use Stop Loss : Setting an appropriate stop loss is vital when trading based on False Breakouts. Typically, the stop loss can be placed near the level where the False Breakout occurred.
3. Seek Confirmations : Before entering a trade, look for additional confirmations. These can include other analyses or technical indicators that show the price is likely to return to its previous level.
🔵 Settings
🟣 Logical settings
Swing period : You can set the swing detection period.
Max Swing Back Method : It is in two modes "All" and "Custom". If it is in "All" mode, it will check all swings, and if it is in "Custom" mode, it will check the swings to the extent you determine.
Max Swing Bac k: You can set the number of swings that will go back for checking.
🟣 Display settings
Displaying or not displaying swings and setting the color of labels and lines.
🟣 Alert Settings
Alert False Breakout : Enables alerts for Breakout.
Message Frequency : Determines the frequency of alerts. Options include 'All' (every function call), 'Once Per Bar' (first call within the bar), and 'Once Per Bar Close' (final script execution of the real-time bar). Default is 'Once per Bar'.
Show Alert Time by Time Zone : Configures the time zone for alert messages. Default is 'UTC'.
🔵Conclusion
False Breakouts, as a key concept in technical analysis, are powerful tools for identifying sudden price changes and using them in trading. Understanding this phenomenon and applying it can help traders perform better in financial markets and avoid potential losses.
To benefit from False Breakouts, traders need to carefully analyze charts and use the appropriate analytical tools. By leveraging this strategy, traders can achieve lower-risk and higher-reward trades.
Linear and Logarithmic Fibonacci Levels and (Price&Time) FansIntroduction
The Fibonacci Retracement tool is a go-to for traders looking to spot potential support and resistance levels. By measuring the distance between swing highs and lows, you can apply Fibonacci ratios like 0.236, 0.382, and 0.618 to predict key market levels.
Traditionally, these levels are set by dividing this distance into equal parts—known as Linear Levels. A more refined approach, Logarithmic Price and Time Levels, divides the distance into proportionally equal segments. Plus, this indicator now includes Fibonacci fans, adding another layer of analysis by projecting potential price levels using trendlines based on Fibonacci ratios.
This tool makes it easier to identify both Linear and Logarithmic levels while also leveraging Fibonacci fans for a more complete market view.
Applications
Logarithmic Levels and Fibonacci fans are ideal for volatile markets. In crypto, they’re especially effective for BTCUSDT (check out the wick from January 23, 2024). They also help spot accumulation and distribution patterns in high-volume altcoins like FETUSDT . In traditional markets, they’re useful for tracking stocks like TSLA and NVDA with extreme price swings, as well as indices in inflation-affected markets like XU100 , or recession-hit currency pairs like JPYUSD .
How to Use
This indicator is intuitive and similar to TradingView’s Fibonacci Tool. Select your reference levels (Level 1 and Level 0), then tweak the settings to customize your analysis, including adding Fibonacci fans for extra insights.
Why It’s Different
Unlike TradingView’s tool, which forces you to switch to a logarithmic scale (messing with other indicators and trend lines), this indicator lets you view both Linear and Logarithmic levels—and Fibonacci fans on Price and Time Series—without changing your chart’s scale. The original Fibonacci Code was derived from zekicanozkanli, modified and upgraded to plot fib front and back fans as well. Due to TV Max Plot restrictions I need to publish just Front and Back and Front Fibs separately.
Range supply and demandHi all!
This is a very simple indicator. It plots the high timeframe (configurable via the "Timeframe" setting) high/low current timeframe bars (that has the same high/low as the higher timeframe) as supply/demand. The higher timeframe bar that's chosen is the one that's next last. As of now one high and one low zone is plotted.
The defaults are based on useful zones when on daily candles.
You can choose to display the higher timeframe within the zone via the "Show" option.
Hope this is clear enough, let me know otherwise.
Best of luck trading!
Percentage Change IndicatorPercentage Change Indicator
This indicator calculates and displays the percentage change between the current close price and the previous close price. It provides a clear visual representation of price movements, helping traders quickly identify significant changes in the market.
## Formula
The percentage change is calculated using the following formula:
```
Percentage Change = (Current Close - Previous Close) * 100 / Current Close
```
## Features
- Displays percentage change as a bar chart
- Green bars indicate positive changes
- Red bars indicate negative changes
- A horizontal line at 0% helps distinguish between positive and negative movements
## How to Use
1. Add the indicator to your chart
2. Observe the bar chart below your main price chart
3. Green bars above the 0% line indicate upward price movements
4. Red bars below the 0% line indicate downward price movements
5. The height of each bar represents the magnitude of the percentage change
This indicator can be particularly useful for:
- Identifying sudden price spikes or drops
- Analyzing the volatility of an asset
- Comparing price movements across different timeframes
- Spotting potential entry or exit points based on percentage changes
Customize the indicator's appearance in the settings to suit your charting preferences.
Note: This indicator works on all timeframes, adapting its calculations to the selected chart period.
Price Action Smart Money Concepts [BigBeluga]THE SMART MONEY CONCEPTS Toolkit
The Smart Money Concepts [ BigBeluga ] is a comprehensive toolkit built around the principles of "smart money" behavior, which refers to the actions and strategies of institutional investors.
The Smart Money Concepts Toolkit brings together a suite of advanced indicators that are all interconnected and built around a unified concept: understanding and trading like institutional investors, or "smart money." These indicators are not just randomly chosen tools; they are features of a single overarching framework, which is why having them all in one place creates such a powerful system.
This all-in-one toolkit provides the user with a unique experience by automating most of the basic and advanced concepts on the chart, saving them time and improving their trading ideas.
Real-time market structure analysis simplifies complex trends by pinpointing key support, resistance, and breakout levels.
Advanced order block analysis leverages detailed volume data to pinpoint high-demand zones, revealing internal market sentiment and predicting potential reversals. This analysis utilizes bid/ask zones to provide supply/demand insights, empowering informed trading decisions.
Imbalance Concepts (FVG and Breakers) allows traders to identify potential market weaknesses and areas where price might be attracted to fill the gap, creating opportunities for entry and exit.
Swing failure patterns help traders identify potential entry points and rejection zones based on price swings.
Liquidity Concepts, our advanced liquidity algorithm, pinpoints high-impact events, allowing you to predict market shifts, strong price reactions, and potential stop-loss hunting zones. This gives traders an edge to make informed trading decisions based on liquidity dynamics.
🔵 FEATURES
The indicator has quite a lot of features that are provided below:
Swing market structure
Internal market structure
Mapping structure
Adjustable market structure
Strong/Weak H&L
Sweep
Volumetric Order block / Breakers
Fair Value Gaps / Breakers (multi-timeframe)
Swing Failure Patterns (multi-timeframe)
Deviation area
Equal H&L
Liquidity Prints
Buyside & Sellside
Sweep Area
Highs and Lows (multi-timeframe)
🔵 BASIC DEMONSTRATION OF ALL FEATURES
1. MARKET STRUCTURE
The preceding image illustrates the market structure functionality within the Smart Money Concepts indicator.
➤ Solid lines: These represent the core indicator's internal structure, forming the foundation for most other components. They visually depict the overall market direction and identify major reversal points marked by significant price movements (denoted as 'x').
➤ Internal Structure: These represent an alternative internal structure with the potential to drive more rapid market shifts. This is particularly relevant when a significant gap exists in the established swing structure, specifically between the Break of Structure (BOS) and the most recent Change of High/Low (CHoCH). Identifying these formations can offer opportunities for quicker entries and potential short-term reversals.
➤ Sweeps (x): These signify potential turning points in the market where liquidity is removed from the structure. This suggests a possible trend reversal and presents crucial entry opportunities. Sweeps are identified within both swing and internal structures, providing valuable insights for informed trading decisions.
➤ Mapping structure: A tool that automatically identifies and connects significant price highs and lows, creating a zig-zag pattern. It visualizes market structure, highlights trends, support/resistance levels, and potential breakouts. Helps traders quickly grasp price action patterns and make informed decisions.
➤ Color-coded candles based on market structure: These colors visually represent the underlying market structure, making it easier for traders to quickly identify trends.
➤ Extreme H&L: It visualizes market structure with extreme high and lows, which gives perspective for macro Market Structure.
2. VOLUMETRIC ORDER BLOCKS
Order blocks are specific areas on a financial chart where significant buying or selling activity has occurred. These are not just simple zones; they contain valuable information about market dynamics. Within each of these order blocks, volume bars represent the actual buying and selling activity that took place. These volume bars offer deeper insights into the strength of the order block by showing how much buying or selling power is concentrated in that specific zone.
Additionally, these order blocks can be transformed into Breaker Blocks. When an order block fails—meaning the price breaks through this zone without reversing—it becomes a breaker block. Breaker blocks are particularly useful for trading breakouts, as they signal that the market has shifted beyond a previously established zone, offering opportunities for traders to enter in the direction of the breakout.
Here's a breakdown:
➤ Bear Order Blocks (Red): These are zones where a lot of selling happened. Traders see these areas as places where sellers were strong, pushing the price down. When the price returns to these zones, it might face resistance and drop again.
➤ Bull Order Blocks (Green): These are zones where a lot of buying happened. Traders see these areas as places where buyers were strong, pushing the price up. When the price returns to these zones, it might find support and rise again.
These Order Blocks help traders identify potential areas for entering or exiting trades based on past market activity. The volume bars inside blocks show the amount of trading activity that occurred in these blocks, giving an idea of the strength of buying or selling pressure.
➤ Breaker Block: When an order block fails, meaning the price breaks through this zone without reversing, it becomes a breaker block. This indicates a significant shift in market liquidity and structure.
➤ A bearish breaker block occurs after a bullish order block fails. This typically happens when there's an upward trend, and a certain level that was expected to support the market's rise instead gives way, leading to a sharp decline. This decline indicates that sellers have overcome the buyers, absorbing liquidity and shifting the sentiment from bullish to bearish.
Conversely, a bullish breaker block is formed from the failure of a bearish order block. In a downtrend, when a level that was expected to act as resistance is breached, and the price shoots up, it signifies that buyers have taken control, overpowering the sellers.
3. FAIR VALUE GAPS:
A fair value gap (FVG), also referred to as an imbalance, is an essential concept in Smart Money trading. It highlights the supply and demand dynamics. This gap arises when there's a notable difference between the volume of buy and sell orders. FVGs can be found across various asset classes, including forex, commodities, stocks, and cryptocurrencies.
FVGs in this toolkit have the ability to detect raids of FVG which helps to identify potential price reversals.
Mitigation option helps to change from what source FVGs will be identified: Close, Wicks or AVG.
4. SWING FAILURE PATTERN (SFP):
The Swing Failure Pattern is a liquidity engineering pattern, generally used to fill large orders. This means, the SFP generally occurs when larger players push the price into liquidity pockets with the sole objective of filling their own positions.
SFP is a technical analysis tool designed to identify potential market reversals. It works by detecting instances where the price briefly breaks a previous high or low but fails to maintain that breakout, quickly reversing direction.
How it works:
Pattern Detection: The indicator scans for price movements that breach recent highs or lows.
Reversal Confirmation: If the price quickly reverses after breaching these levels, it's identified as an SFP.
➤ SFP Display:
Bullish SFP: Marked with a green symbol when price drops below a recent low before reversing upwards.
Bearish SFP: Marked with a red symbol when price rises above a recent high before reversing downwards.
➤ Deviation Levels: After detecting an SFP, the indicator projects white lines showing potential price deviation:
For bullish SFPs, the deviation line appears above the current price.
For bearish SFPs, the deviation line appears below the current price.
These deviation levels can serve as a potential trading opportunity or areas where the reversal might lose momentum.
With Volume Threshold and Filtering of SFP traders can adjust their trading style:
Volume Threshold: This setting allows traders to filter SFPs based on the volume of the reversal candle. By setting a higher volume threshold, traders can focus on potentially more significant reversals that are backed by higher trading activity.
SFP Filtering: This feature enables traders to filter SFP detection. It includes parameters such as:
5. LIQUIDITY CONCEPTS:
➤ Equal Lows (EQL) and Equal Highs (EQH) are important concepts in liquidity-based trading.
EQL: A series of two or more swing lows that occur at approximately the same price level.
EQH: A series of two or more swing highs that occur at approximately the same price level.
EQLs and EQHs are seen as potential liquidity pools where a large number of stop loss orders or limit orders may be clustered. They can be used as potential reverse points for trades.
This multi-period feature allows traders to select less and more significant EQL and EQH:
➤ Liquidity wicks:
Liquidity wicks are a minor representation of a stop-loss hunt during the retracement of a pivot point:
➤ Buy and Sell side liquidity:
The buy side liquidity represents a concentration of potential buy orders below the current price level. When price moves into this area, it can lead to increased buying pressure due to the execution of these orders.
The sell side liquidity indicates a pool of potential sell orders below the current price level. Price movement into this area can result in increased selling pressure as these orders are executed.
➤ Sweep Liquidation Zones:
Sweep Liquidation Zones are crucial for understanding market structure and potential future price movements. They provide insights into areas where significant market participants have been forced out of their positions, potentially setting up new trading opportunities.
🔵 USAGE & EXAMPLES
The core principle behind the success of this toolkit lies in identifying "confluence." This refers to the convergence of multiple trading indicators all signaling the same information at a specific point or area. By seeking such alignment, traders can significantly enhance the likelihood of successful trades.
MS + OBs
The chart illustrates a highly bullish setup where the price is rejecting from a bullish order block (POC), while simultaneously forming a bullish Swing Failure Pattern (SFP). This occurs after an internal structure change, marked by a bullish Change of Character (CHoCH). The price broke through a bearish order block, transforming it into a breaker block, further confirming the bullish momentum.
The combination of these elements—bullish order blocks, SFP, and CHoCH—creates a powerful bullish signal, reinforcing the potential for upward movement in the market.
SFP + Bear OB
This chart above displays a bearish setup with a high probability of a price move lower. The price is currently rejecting from a bear order block, which represents a key resistance area where significant selling pressure has previously occurred. A Swing Failure Pattern (SFP) has also formed near this bear order block, indicating that the price briefly attempted to break above a recent high but failed to sustain that upward movement. This failure suggests that buyers are losing momentum, and the market could be preparing for a move to the downside.
Additionally, we can toggle on the Deviation Area in the SFP section to highlight potential levels where price deviation might occur. These deviation areas represent zones where the price is likely to react after the Swing Failure Pattern:
BUY – SELL sides + EQL
The chart showcases a bullish setup with a high probability of price breaking out of the current sell-side resistance level. The market structure indicates a formation of Equal Lows (EQL), which often suggests a build-up of liquidity that could drive the price higher.
The presence of strong buy-side pressure (69%), indicated by the green zone at the bottom, reinforces this bullish outlook. This area represents a key support zone where buyers are outpacing sellers, providing the foundation for a potential upward breakout.
EQL + Bull ChoCh
This chart illustrates a potential bullish setup, driven by the formation of Equal Lows (EQL) followed by a bullish Change of Character (CHoCH). The presence of Equal Lows often signals a liquidity build-up, which can lead to a reversal when combined with additional bullish signals.
Liquidity grab + Bull ChoCh + FVGs
This chart demonstrates a strong bullish scenario, where several important market dynamics are at play. The price begins its upward momentum from Liquidity grab following a bullish Change of Character (CHoCH), signaling the transition from a bearish phase to a bullish one.
As the price progresses, it performs liquidity grabs, which serve to gather the necessary fuel for further movement. These liquidity grabs often occur before significant price surges, as large market participants exploit these areas to accumulate positions before pushing the price higher.
The chart also highlights a market imbalance area, showing strong momentum as the price moves swiftly through this zone.
In this examples, we see how the combination of multiple “smart money” tools helps identify a potential trade opportunities. This is just one of the many scenarios that traders can spot using this toolkit. Other combinations—such as order blocks, liquidity grabs, fair value gaps, and Swing Failure Patterns (SFPs)—can also be layered on top of these concepts to further refine your trading strategy.
🔵 SETTINGS
Window: limit calculation period
Swing: limit drawing function
Mapping structure: show structural points
Algorithmic Logic: (Extreme-Adjusted) Use max high/low or pivot point calculation
Algorithmic loopback: pivot point look back
Show Last: Amount of Order block to display
Hide Overlap: hide overlapping order blocks
Construction: Size of the order blocks
Fair value gaps: Choose between normal FVG or Breaker FVG
Mitigation: (close - wick - avg) point to mitigate the order block/imbalance
SFP lookback: find a higher / lower point to improve accuracy
Threshold: remove less relevant SFP
Equal H&L: (short-mid-long term) display longer term
Liquidity Prints: Shows wicks of candles where liquidity was grabbed
Sweep Area: Identify Sweep Liquidation areas
By combining these indicators in one toolkit, traders are equipped with a comprehensive suite of tools that address every angle of the Smart Money Concept. Instead of relying on disparate tools spread across various platforms, having them integrated into a single, cohesive system allows traders to easily see confluence and make more informed trading decisions.
Ichimoku Power Indicator# Ichimoku Power Indicator
## Overview
The Ichimoku Power Indicator is an advanced tool that combines the traditional Ichimoku Cloud system with a unique power ranking mechanism. This indicator provides traders with a comprehensive view of market trends and potential reversal points, all while quantifying the strength of bullish and bearish signals.
## Key Features
1. **Full Ichimoku Cloud Visualization:** Displays all components of the Ichimoku Cloud system, including Conversion Line (Tenkan-sen), Base Line (Kijun-sen), Leading Span A and B (Kumo), and Lagging Span (Chikou Span).
2. **Power Ranking System:** Calculates and displays a bullish and bearish power score based on 11 different Ichimoku-derived conditions.
3. **Real-time Updates:** Power scores are updated in real-time as market conditions change.
4. **Easy-to-Read Display:** A clear, color-coded table shows the current bullish and bearish power scores.
5. **Customizable Parameters:** Allows adjustment of key Ichimoku settings to suit different trading styles and timeframes.
## How It Works
The indicator evaluates 11 different conditions derived from Ichimoku Cloud components:
1. Cloud color
2. Price position relative to the cloud
3. Tenkan-sen vs Kijun-sen
4. Price vs Tenkan-sen
5. Price vs Kijun-sen
6. Tenkan-sen vs Cloud
7. Kijun-sen vs Cloud
8. Chikou Span vs Cloud
9. Chikou Span vs Tenkan-sen
10. Chikou Span vs Kijun-sen
11. Chikou Span vs Price
Each bullish condition adds a point to the bullish power score, while each bearish condition adds a point to the bearish power score. The maximum score for each is 11.
## Interpretation
- Higher bullish scores suggest stronger upward trends or potential bullish reversals.
- Higher bearish scores indicate stronger downward trends or potential bearish reversals.
- When scores are close, it may indicate a period of consolidation or uncertainty.
## Use Cases
- Trend Confirmation: Use in conjunction with price action to confirm the strength of current trends.
- Reversal Detection: Watch for changes in power scores as early indicators of potential trend reversals.
- Entry and Exit Signals: High power scores can be used to identify optimal entry or exit points.
- Market Analysis: Gain a quick overview of market conditions across multiple assets or timeframes.
## Note
This indicator is designed to complement your existing trading strategy. Always use it in conjunction with other forms of analysis and proper risk management techniques.
Experiment with different timeframes and settings to find the configuration that best suits your trading style and the assets you trade.
Happy trading!
Risk Appetite & Directional Bias [NariCapitalTrading]Guide to the Risk Appetite & Directional Bias Indicator
This indicator is a tool designed to capture the relationship between Bitcoin and the S&P 500 (but could be any two assets of your choice, theoretically). This post aims to provide a detailed overview of the logic, components, and implementation of the indicator.
1. Introduction
This indicator leverages the relationship between Bitcoin and the S&P 500 to provide insights into the directional bias of the S&P 500 based on Bitcoin's movements. The premise is that Bitcoin, due to its 24/7 trading nature, often leads SP500 price movements. By dynamically adjusting the influence (beta) of Bitcoin based on historical data, this indicator aims to capture shifts in market sentiment or "risk appetite."
2. Core Concepts
a. Dynamic Weighting
The indicator uses a dynamic weighting mechanism to adjust the influence of Bitcoin on the S&P 500. The weight is based on the correlation between Bitcoin's and the S&P 500's returns, normalized by their respective volatilities.
// Calculate rolling correlation between Bitcoin and S&P 500
btcSp500Correlation = ta.correlation(btcChange, sp500Change, lookbackPeriod)
// Dynamic adjustment factor for Bitcoin influence on S&P 500
dynamicBtcWeight = btcWeightInput * btcSp500Correlation / normalizedBtcVolatility
b. Percentage Change and Volatility
Percentage change and volatility are critical components of the indicator. They are calculated for both Bitcoin and the S&P 500 to understand their respective behaviors over a defined lookback period.
// Function to calculate percentage change
f_change(src) =>
ta.change(src) * 100
// Function to calculate volatility
f_volatility(src, period) =>
ta.stdev(f_change(src), period)
These functions calculate the percentage change and standard deviation (volatility) of the asset prices.
c. Normalization
Normalization is applied to Bitcoin's volatility relative to the S&P 500's volatility to ensure that the influence of Bitcoin is appropriately scaled. This prevents Bitcoin's typically higher volatility from overwhelming the analysis.
// Normalize Bitcoin's volatility against S&P 500's volatility
normalizedBtcVolatility = sp500Volatility != 0 ? btcVolatility / sp500Volatility : na
3. Indicator Logic
The indicator's logic involves combining the historical change of the S&P 500 with the dynamically weighted influence of Bitcoin's change. The output is an "adjusted change" that reflects this combined impact.
// Combine the Bitcoin influence with S&P 500's historical change
adjustedChange = sp500Change + (dynamicBtcWeight * btcChange)
This adjusted change is used to determine the directional bias, categorized as "Bullish," "Bearish," or "Neutral."
4. Visualization
The indicator visualizes the predicted price of the S&P 500 based on the adjusted change. It uses different colors to represent different biases.
// Plot the predicted price with color indication based on bias
plotColor = bias == "Bullish" ? color.green : bias == "Bearish" ? color.red : color.blue
plot(predictedPrice, color=plotColor, title="Predicted SP500 Price", linewidth=2, style=plot.style_line)
Additionally, the adjusted change is plotted as a histogram.
5. Use Cases and Practical Applications
The indicator is particularly useful for day traders and swing traders who seek to anticipate market moves before they are fully reflected in traditional equity markets. This may/will require some parameter tuning and optimization on your part (the user).
For other researchers and quants: the dynamic weighting mechanism offers an example of how cross-asset relationships can be modeled and incorporated into pinescript studies.
6. Customization
Users can customize several aspects of the indicator:
Lookback Period: Defines the period over which correlation and volatility are calculated.
EMA Period: Adjusts the sensitivity of the indicator.
Initial Weight of Bitcoin Influence: Sets the starting point for Bitcoin's impact, which is then dynamically adjusted.
Daily Bias Engine | PDH/PDL Range This program is designed to track the previous day range and interactions with the mean threshold on the following day.
The bias strategy is simple:
If you create new range highs over a PDH, you will lean towards calls.
If you create new range lows over a PDL, you will learn towards puts.
If neither event happens, no bias can be determined and therefore no trades taken.
If by 12:00pm there still is no bias determined, it will show moderate strength based on the trend.
Remember, use this strategy to outline your bias and find a cheap entry model to take advantage of.
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.
Breadth Thrust Strategy with Volatility Stop-LossThe "Breadth Thrust Strategy with Volatility Stop-Loss" is a trading strategy designed to capitalize on market momentum while managing risk through volatility-based stop-losses. Here's a detailed breakdown of the strategy:
Strategy Overview:
Market Breadth Analysis: The strategy uses the "Breadth Thrust Indicator," which evaluates market momentum by calculating the ratio of advancing stocks to the total number of stocks on the New York Stock Exchange (NYSE). This indicator helps identify bullish market conditions. An optional feature allows for the inclusion of volume data in this calculation, enhancing the signal's robustness.
Signal Generation: A long position is triggered when the smoothed breadth ratio (or the combined breadth and volume ratio) crosses above a specified low threshold (e.g., 0.4). This crossover indicates a potential shift towards positive market momentum.
Key Parameters:
Smoothing Length (length): Defines the period over which the breadth or combined ratio is smoothed using a simple moving average (SMA) to reduce noise and highlight the underlying trend.
Low Threshold (threshold_low): The level below which the smoothed ratio must fall before crossing back above to trigger a long signal.
Hold Periods (hold_periods): The minimum number of periods for which the position will be held once entered, ensuring the strategy captures a meaningful move.
Volatility Multiplier (volatility_multiplier): A multiplier applied to the Average True Range (ATR) to determine the distance of the stop-loss from the entry price, which adjusts according to market volatility.
Trade Management:
Entry Signal: The strategy enters a long position when the smoothed combined ratio crosses above the low threshold, signaling a potential bullish reversal.
ATR-Based Stop-Loss: Upon entering a trade, the strategy calculates a stop-loss level based on the ATR, which measures market volatility. The stop-loss is set at a distance from the entry price, determined by multiplying the ATR by the specified volatility multiplier. This adaptive stop-loss mechanism helps protect the position from adverse market moves.
Stop-Loss Adjustment: While the position is open, the stop-loss level is dynamically updated, ensuring it never decreases (trailing stop-loss effect) but can be adjusted upwards to reflect the latest price action relative to volatility.
Position Closure: The position is closed if:
The market price falls to or below the stop-loss level.
The position has been held for the specified number of periods (hold_periods), after which it is automatically closed.
Additional Settings:
Initial Capital: The strategy starts with an initial capital of $10,000.
Commissions and Slippage: Each trade incurs a commission of $5 per order, and slippage is accounted for at $1 per trade.
Background Highlighting: The chart background turns green when a position is open, providing a clear visual indication of the active trade.
This strategy is designed to identify and capitalize on upward momentum in the market while employing a volatility-adjusted stop-loss to manage risk. By combining market breadth analysis with volatility-based stop-losses, the strategy aims to balance profit potential with protection against sudden market reversals.
Opening Price LinesThis script allows the user to set 16 custom opening time price lines and labels, as well as 4 vertical lines to delineate times of the day.
Opening price is crucial for PO3 and OHLC/OLHC market strategies. If you are bearish, you want to get in above the opening price of a candle; conversely if you are bullish you want to enter below the opening price of a candle.
This indicator will aid in identifying time clusters in price as well as identifying important times for whatever strategy the user employs.
*Many thanks to TFO for the framework from which this indicator was created.*
Trendlines (long)Hi all!
I hope that this indicator helps you to be a more efficient trader. The concept is well known and useful. So this is not some magic algorithm founded by me, but rather a well known concept. The concept is the drawing of trendlines.
It draws trendlines that has a retest. It draws the trendlines in different colors, the colors used are blue, red, fuchsia and lime.
These are the steps for finding a trendline:
1. Find a generic retest
Find a low that has 2 earlier lows and 1 later low that are higher. This is the reason that a trendline will be created "1 bar late". This is the base and the indicator goes on from here, meaning that this needs to be true to continue.
2. Find an uptrend
Look back 8 bars to find a low that is lower than the retest low.
3. Create the first point of a trendline
Go thru every bar between the user defined "Lookback" and the retest bar (minus the user defined "Skip gap" that's needed between points to create a trendline). From the earliest bar to the latest.
4. Create the second point of the trendline
Go thru every bar between the retest bar and the the first point (bar) minus the "Skip gap". From latest bar to the earliest. A trendline between the two bars are invalidated if some of the criteria are met in-between the bars creating the trendline:
- closed above the trendline (trendline broken)
- is not within the retest bar
- the slope of the trendline is upwards (this indicator is for long entries only)
- at least 1 of the bars creating the retest (1 main bar and 2 earlier bars) has NOT been above the trendline
- is not the created trendline (between the two points) that's closest to the low of the retest bar
TODO:
- add functionality to draw trendlines directly on breakouts
- add volume (high volume needed to create a trendline from a breakout/retest)
- ...?
I hope this explanation makes sense, let me know otherwise. Also let me know if you have any suggestions on improvements.
Best of luck trading!
Custom EMA Multi-Timeframe Indicator [Pineify]
This innovative indicator combines Exponential Moving Averages (EMAs) across multiple timeframes to provide traders with a comprehensive view of market trends and potential trading opportunities. By analyzing short, medium, and long-term EMAs simultaneously, this indicator offers valuable insights into market dynamics and helps identify high-probability entry and exit points.
Key Features
Multi-timeframe analysis using customizable EMAs
Visual representation of trend alignment across different timeframes
Customizable EMA lengths and sources for each timeframe
Buy and sell signals based on EMA crossovers
Alert functionality for real-time trade notifications
How It Works
The Custom EMA Multi-Timeframe Indicator calculates three separate EMAs:
1. Short-term EMA: Represents immediate market sentiment
2. Medium-term EMA: Captures intermediate trend direction
3. Long-term EMA: Reflects the overall market trend
These EMAs are plotted on the chart using different colors for easy identification. The indicator generates buy and sell signals based on the relative positions of these EMAs, providing traders with clear visual cues for potential trade entries and exits.
Trading Ideas and Insights
This indicator offers several powerful trading concepts:
Trend Alignment: When all three EMAs are aligned (short above medium above long), it indicates a strong trend. Traders can look for pullbacks to enter in the direction of the trend.
Trend Reversal: When the short-term EMA crosses above or below both the medium and long-term EMAs, it may signal a potential trend reversal. This can be used to exit existing positions or enter new trades in the opposite direction.
Range-bound Markets: When the EMAs are tightly grouped together, it suggests a consolidation phase. Traders can wait for a breakout or use range-trading strategies.
Momentum Confirmation: The speed at which the short-term EMA diverges from or converges with the longer-term EMAs can indicate the strength of the current move.
Unique Aspects
What sets this indicator apart is its ability to synthesize information from multiple timeframes into a single, easy-to-interpret visual display. Unlike traditional single-timeframe EMAs, this indicator provides a more holistic view of market trends, reducing false signals and improving trade timing.
The customizable nature of the indicator allows traders to adapt it to various trading styles and market conditions. By adjusting the EMA lengths and sources, traders can fine-tune the indicator to their specific needs and preferences.
How to Use
1. Apply the indicator to your chart
2. Customize the timeframes and EMA settings as desired
3. Look for buy signals when the short and medium EMAs cross above the long EMA
4. Look for sell signals when the short and medium EMAs cross below the long EMA
5. Use the relative positions of the EMAs to gauge overall trend strength and direction
6. Combine with other technical analysis tools for confirmation
Customization
The indicator offers extensive customization options:
Short, medium, and long timeframes can be adjusted
EMA lengths for each timeframe are customizable
EMA source (close, open, high, low, etc.) can be selected for each timeframe
Colors and line styles can be modified to suit personal preferences
Alert settings can be configured for automated trade notifications
Conclusion
The Custom EMA Multi-Timeframe Indicator is a powerful tool for traders seeking to gain a comprehensive understanding of market trends across different time horizons. By combining multiple EMAs and timeframes, it provides a unique perspective on market dynamics, helping traders make more informed decisions and potentially improve their trading results.
Whether you're a day trader looking for short-term opportunities or a swing trader focusing on longer-term trends, this indicator offers valuable insights that can enhance your trading strategy. Its flexibility and customization options make it suitable for a wide range of trading styles and market conditions.
Remember: While this indicator can be a valuable tool in your trading arsenal, it should not be used in isolation. Always combine it with other forms
US Futures Momentum OverviewThe "US Futures Momentum Overview" indicator is designed to provide a comprehensive view of momentum across various U.S. futures markets. It calculates the Rate of Change (ROC) for multiple futures contracts and displays them as lines on a chart. Each futures market is plotted with a unique color for easy differentiation, allowing traders to quickly assess the momentum in different markets.
Features:
ROC Calculation: Measures the percentage change in price over a specified period, indicating the rate of change in momentum.
Futures Markets Covered: Includes major U.S. indices, commodities, and agricultural products.
How to Use:
Momentum Analysis: Observe the ROC lines for each futures market. A positive ROC indicates increasing momentum, while a negative ROC suggests decreasing momentum.
Trend Identification: Use the ROC values to identify strong trends in different markets. Markets with higher positive ROC values show stronger upward momentum.
Comparison: Compare momentum across various futures markets to identify which ones are showing stronger trends and might offer better trading opportunities.
Market Indicator by Atilla YurtsevenThis TradingView script is designed to analyze and visualize market trends by showing the percentage drops from the all-time high (ATH) of a stock or any other financial instrument. It also calculates and displays key statistical levels such as the mean, median, and various percentage thresholds. This indicator helps traders identify significant retracement levels and possible support/resistance zones based on historical price movements.
Indicator Settings:
- The indicator is named "Market // Atilla Yurtseven" and can be overlaid on the price chart.
- Users can choose to use the closing price (Use Close Price) or the high/low prices.
- Options are provided to show the ATH, ATL (All-Time Low), mean, median, and various minor and macro percentage levels.
Color Customization:
- The script allows customization of text and line colors for different levels, making it adaptable to different charting styles.
Initial Variable Setup:
- The script initializes several variables, including ATH, ATL, and arrays to store price data.
The round and roundy functions are used to format the values for display purposes.
ATH/ATL Calculation:
- The script checks if the current price exceeds the previous ATH and updates the ATH accordingly.
- Similarly, the script calculates the ATL based on the lowest point after reaching the ATH.
Mean and Median Calculation:
- The mean is calculated as the average drop from the ATH, while the median is the middle value in the sorted array of drops.
- These statistics provide insight into the overall trend and are used to identify significant price levels.
Plotting the Levels:
The script plots the ATH, ATL, mean, median, and various percentage retracement levels (12.5%, 25%, 37.5%, etc.).
The levels are color-coded based on user preferences, making it easier to interpret the chart visually.
Labels and Text Display:
- The script dynamically creates and updates labels on the chart to show the values of the ATH, ATL, mean, median, and other key levels.
- This feature allows traders to see at a glance how far the current price is from these critical levels.
Hit Detection:
- The script includes logic to detect if the price is within the range of the mean and median. If the price is within this range, the color of the fill between these levels changes, highlighting this area on the chart.
This script is a powerful tool for traders who want to analyze the retracement levels from historical highs. By displaying the mean, median, and various percentage levels, it provides a comprehensive view of potential support and resistance areas, helping traders make more informed decisions. The customizable nature of the script allows it to fit seamlessly into different trading strategies and charting styles.
Disclaimer:
This script is provided for informational and educational purposes only and does not constitute financial or investment advice. The author, Atilla Yurtseven, is not responsible for any financial losses or damages that may occur as a result of using this script. Trading and investing in financial markets involve risk, and past performance is not indicative of future results. Users should conduct their own research and consult with a qualified financial advisor before making any investment decisions. Use this script at your own risk.
Trade smart, stay safe.
Atilla Yurtseven
Multiple EMA Indicator [Pineify]TradingView Multiple EMA Indicator: A Comprehensive Trend Analysis Tool
The TradingView Multiple EMA Indicator is a powerful and versatile tool designed to provide traders with a comprehensive view of market trends across multiple timeframes. By incorporating five Exponential Moving Averages (EMAs) with customizable lengths and sources, this indicator offers a nuanced approach to trend analysis, suitable for both novice and experienced traders.
Key Features:
Five customizable EMAs for multi-timeframe analysis
Flexible source inputs for each EMA
Color-coded plots for easy visual interpretation
Overlay functionality for direct price action comparison
How It Works:
This indicator calculates and displays five separate EMAs on your chart, each with its own customizable length and source. The EMAs are color-coded for easy identification:
EMA-1: Red
EMA-2: Light Green
EMA-3: Light Blue
EMA-4: Purple
EMA-5: Yellow
By default, the indicator uses the following settings:
EMA-1: 10-period EMA of close price
EMA-2: 20-period EMA of close price
EMA-3: 50-period EMA of close price
EMA-4: 100-period EMA of close price
EMA-5: 200-period EMA of close price
However, users can easily adjust these settings to suit their specific trading strategies and preferences.
Trading Ideas and Insights:
The Multiple EMA Indicator offers several ways to analyze market trends and generate trading signals:
Trend Identification: The alignment of the EMAs can help identify the overall trend. When shorter-term EMAs are above longer-term EMAs, it suggests an uptrend, and vice versa for a downtrend.
Dynamic Support and Resistance: Each EMA can act as a dynamic support or resistance level. Price bouncing off these levels can indicate potential entry or exit points.
Crossovers: When a shorter-term EMA crosses above a longer-term EMA, it may signal a bullish trend change. Conversely, a bearish signal may occur when a shorter-term EMA crosses below a longer-term EMA.
Trend Strength: The spacing between the EMAs can indicate trend strength. Wide spacing suggests a strong trend, while narrow spacing or intertwining EMAs may indicate consolidation or a weakening trend.
Multi-Timeframe Analysis: By using different EMA lengths, traders can gain insights into short-term, medium-term, and long-term trends simultaneously.
How to Use the Indicator:
Add the indicator to your chart and adjust the input parameters as needed.
Observe the relative positions of the EMAs to identify the overall trend direction.
Look for potential entry signals when price or shorter-term EMAs cross above or below longer-term EMAs.
Use the EMAs as dynamic support and resistance levels for setting stop-loss and take-profit orders.
Combine the Multiple EMA Indicator with other technical analysis tools, such as oscillators or volume indicators, for more comprehensive trading decisions.
Customization Options:
The indicator offers extensive customization options, allowing traders to tailor it to their specific needs:
Adjust the length of each EMA to focus on different timeframes
Change the source of each EMA (e.g., close, open, high, low, HL2, HLC3, OHLC4)
Modify the color and line thickness of each EMA for better visibility
Conclusion:
The TradingView Multiple EMA Indicator is a versatile and powerful tool for trend analysis and trade decision-making. By providing a multi-faceted view of market trends, it enables traders to make more informed decisions based on a comprehensive understanding of price action across various timeframes.
Remember that while this indicator can be a valuable tool in your trading arsenal, it should not be used in isolation. Always combine it with other forms of analysis and proper risk management techniques for the best results.
We hope this indicator enhances your trading experience and contributes to your success in the markets. Happy trading!
True Day Open1. *nyTime*: Converts the current time to the New York timezone.
2. *nyHour and nyMinute*: Extracts the hour and minute of the current candle in the New York timezone.
3. *isNyMidnightCandle*: A boolean variable that checks if the current candle is the 12:00 AM candle in New York.
4. *bgcolor*: Colors the background of the 12:00 AM candle blue.
5. *plotshape*: Optionally, you can mark the 12:00 AM candle with a blue label above the bar for better visibility.
You can copy and paste this code into the Pine Editor on TradingView and apply it to your chart. Make sure your chart is set to the 5-minute timeframe.
PDHL Sweep + C123 (by Veronica)The "PDHL Sweep + C123" is an indicator to identify potential reversal or continuation patterns in the market by combining key price levels from the previous day with a custom three-candle pattern analysis.
Key Features:
1. Previous Day High/Low Sweep:
The indicator automatically plots horizontal lines marking the previous day's high and low prices.
If the price crosses these key levels, the lines will change from solid to dashed, indicating a potential sweep or breakout.
2. Three-Candle Pattern Analysis:
The indicator identifies specific three-candle patterns that could signal a bullish or bearish setup. The pattern is validated if certain conditions are met, including the relationship between candle bodies and whether the price has crossed the previous day's high or low.
3. Marubozu Condition (Optional):
Users can enable a condition that checks if the Candle 1 and 3 in the pattern is a Marubozu, with a customizable body size percentage.This adds an extra layer of confirmation to the pattern. Default is switch on for both candle 1 and 3.
4. Customizable Alerts:
Users can set alerts for when a "Buy" or "Sell" signal is triggered, allowing them to stay informed of potential trading opportunities without constantly monitoring the charts.
Callout Signals:
When a valid bullish or bearish pattern is identified, the indicator places a "Buy" or "Sell" callout on the chart for clear visual signaling.
5. Customizable colour and text:
Users can customize the color and text of these callouts to suit their preferences.
How to Use:
Bullish Signal: A "Buy" callout will appear when a valid three-candle bullish pattern is detected and the price has crossed below the previous day's low.
Bearish Signal: A "Sell" callout will appear when a valid three-candle bearish pattern is detected and the price has crossed above the previous day's high.
Customize the appearance of the indicator, including line colors, callout colors, and text colors, to match your charting style.
This indicator is ideal for traders who rely on price action and key levels for their trading decisions. It provides clear signals and alerts, helping you stay on top of potential market reversals or continuations.
