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TradingWolf Smart Money

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The TradingWolf Premium Smart Money Concept is a unique and enhanced selection of ideas designed to help give you an edge on the markets.
Within this one indicator you will have access to Fair Value Gap, Order Blocks, Break of Structure, Forecasting, Supply & Demand.

Below find each explanations on how to use each indicator
This script comes with the 'TradingWolf Premium' to get access, read the Author’s Instructions below.

There are extensive explanations on how to use this in our documentation on the website but we will give a simple overview here.

Order Blocks

There are several different ways people like to calculate order blocks, one of the ways we like is by using pivot points to identify levels of importance, from there we either highlight the highest/lowest closed candle or the wick. The user has the option to choose this in the settings.
As seen in the image above, you can see these levels are well respected and give people an opportunity to help where the market marker is placing their orders.

Fair Value Gaps

Fair value gaps can be a very useful concept in price action trading. They detect instances in which there are inefficiencies, or imbalances, in the market. In this case, we define imbalance as an instance in which buying and selling is not equal. This is often visualised as a large candle whose neighbouring candles’ wicks do not fully overlap the large candle. Below are a few examples of Fair Value Gap.

If price is in a downtrend and there is a fair value gap above, a trader might look to go short when that FVG fills. Inversely, if price is in an uptrend and there is a FVG below, a trader might look to go long when the FVG fills.
In this script we decided to highlight both types, one is simply marking up all technical FVGs which is the gap produced by the large candle, the other more commonly traded ones are market structure breaking ones.
These ones tend to be more respected so note they are highlighted in a separate colour to make them more visible.

If a FVG has been filled that box will dim away so it's not in your way.

ChoCh

‘Change of Character’ Hugely used by professional traders although they may not have heard of it called by this term. This is where price/market structure is trending in a certain direction but price starts to reverse.
This first happens when there is a break of structure, instead of another Lower High formed, price makes a Higher High like in the image above. This is where we highlight a break of structure or some people will just refer to this as the Choch line, once we have this we can look for an Order block / supply zone below to find an entry.

This is a hugely powerful tool dating back to one of the simplest and first concepts of trading where Market structure is King.

Peaks & Troughs

This tool helps you find potential reversal points in your support/resistance area, Simple candlestick patterns but incredibly powerful when used in confluence with our other tools.

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Additions:
Previous Day Highs & Lows & Daily/Weekly/Monthly Levels

These key levels often act as support and resistance points when price interacts with them, especially on lower time frames.
Find more information in our documentation.

Improvements:
Pivot Order Blocks more customisable.
Choch Order Blocks created as well as BoS lines now on offer.

Lots more options for the user to customise their display style including.

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Break of Structure

Added Option to display Label
Colour tweaks

Fair Value Gaps

Colour Tweaks

Peaks & Troughs

Added option to Display distance between levels
Option to turn labels on/off

Daily Levels

Changed distance of labels
Colour tweaks

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V1.31 Update

Minor Cosmetic Changes
Internal alert system set up for discord connections

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V1.32 Update
Minor Bug Fix

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V1.33
New Trigger Blocks added to Order block Choice
These New Blocks use our DPO to determine when a new trending move has started and from there it uses the last candle before the move as a support/resistance point.
You can try it out, in the settings on 'Order Block choice' choose either "All" or "Trigger" The blocks will have DPO-(B/S) labels in them.

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Minor Bug Fix