This comprehensive Pine Script strategy combines Fibonacci retracement levels, Volume Weighted Average Price (VWAP), Commodity Channel Index (CCI), and Average True Range (ATR)-based stop levels to equip traders with essential tools for market analysis. Designed for intraday and swing traders, the script provides a detailed view of market momentum, dynamic support/resistance levels, and actionable buy/sell signals.
Key Features: Fibonacci Levels:
Visualizes key support and resistance zones based on Fibonacci retracements. Labels each level dynamically on the chart for easy reference. VWAP with Standard Deviation Bands:
Tracks volume-weighted price trends to identify the true market value. Includes upper and lower bands for detecting potential breakout or reversion zones. CCI with Moving Average:
Highlights overbought/oversold conditions to anticipate market reversals. Includes a smoothed moving average of CCI for trend validation. ATR-Based Stop Levels:
Dynamic stop-loss levels (long and short) to manage risk effectively. Helps traders maintain discipline with predefined exit strategies. MACD:
Provides momentum signals with clear buy/sell crossovers. Includes a histogram for identifying the strength of price movements. Custom Alerts:
Bullish and bearish signals are triggered based on CCI crossovers and price action relative to VWAP. Alerts are integrated for real-time decision-making. Categories: Indicators: Combines multiple technical indicators into a single script. Volume Analysis: VWAP-based price tracking for volume-weighted trends. Trend Analysis: CCI and MACD identify momentum shifts and trends. How to Use: Fibonacci Levels:
Use the displayed levels to identify potential support and resistance areas for trade entry and exit. VWAP Bands:
Observe price interactions with VWAP and its bands to determine overbought/oversold conditions or breakout opportunities. CCI and ATR Stops:
Use the CCI and its moving average to confirm trend direction and momentum. Apply ATR stop levels for setting dynamic risk parameters. MACD:
Monitor MACD crossovers for confirming bullish or bearish market momentum. This script serves as a powerful toolkit for traders, offering robust functionality and visual clarity for effective decision-making in financial markets.