OPEN-SOURCE SCRIPT

Vanitati's Market Scope

已更新

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How to Use the Indicator
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Configuration: Begin by setting the session times to match your trading interests. Customize the colors and styles according to your preferences.

Observation: Watch for the high and low markers of each session to form the initial balance. Note how the price moves in relation to these levels.

Action: Pay special attention to God Candles and engulfing patterns, especially when they coincide with high volume. These may offer trading signals in line with your strategy.

Adjustment: Regularly review and adjust the settings (e.g., session times, lookback periods) based on market conditions and your trading performance.

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Initial Balance (IB) Settings:
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Purpose: Marks the high and low of a specific trading session to indicate the initial range of market movement.

Usage: Customize session times for New York (NY), London (LN), and Tokyo (TK) to see the initial balance of each. Colors for the high, low, and mid-point lines can be adjusted.

Practical Application: Traders can use these lines to gauge market volatility or breakouts outside of these initial ranges.

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Session Settings and Session Highlight Boxes
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Purpose: Highlights trading sessions with customizable background colors and border styles, allowing for a quick visual reference of market sessions.

Usage: Set the times for NY, London, and Tokyo sessions along with desired background colors to have these periods visually marked on the chart.

Practical Application: Helps in identifying the overlap between major market sessions and potential increases in trading volume and volatility.

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God Candle Settings
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Purpose: Identifies significantly large and voluminous candles, known as "God Candles", which could signal strong market movements.

Usage: Adjust the lookback period, line length, and volume criteria to define what constitutes a God Candle. These settings also allow for the display of diamonds on bars that meet certain criteria but are not classified as God Candles.

Practical Application: These candles can signal strong buying or selling pressure and might be used as potential entry or exit points based on the trader's strategy.

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Additional Features
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Session Time Filters: Allows for filtering signals based on the time of day, useful for focusing on specific market hours.

Engulfing Pattern Detection: The script includes logic to identify bullish and bearish engulfing patterns, adding another layer of analysis for potential trading opportunities.

Volume Analysis: Incorporates volume into the analysis of God Candles and engulfing patterns to identify significant market movements.

發布通知

Added a check box for comex times, so now you can just switch between comex and forex without needing to change values

minor update to god candles and pressure dots to prevent inaccurate engulfs

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Now chart time changing is automatic, so long as primary chart is forex, or specifically the futures charts ES NQ or GC

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Minor fix to the time defaults

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further time fixes

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Added pressure dot alerts, recommend only alerting as sound while on chart.

fixed CME london block

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created a modifiable times section, in case your broker isn't supported

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more defined options