Tool to show typical pip-grade/ handle-grade sweep distance above pivot highs and pivot lows
-In consolidation/ranging periods (i.e. most of the time); Highs/Lows may by swept by fairly consistent distances in typical stop raids. -Idea is from ICT teaching on typical Pip-grade sweeps in FX (10,20,30pips). Designed to work on FX, Indices, Commodities, Bitcoin. -Above chart shows S&P; sweeping below and then above by 5 handles.
///inputs/// ~choose sweep distance handles ($) or pips: will auto-calculate depending on the asset: FX= pips; Indices/stocks/commodities = handles ($) --(2,5,10,20,30,50,100, 500, 1000) ~choose pivot lookback: larger number for more significant swing highs/lows ~choose number of historical boxes to display ~toggle on/off Pivot high boxes and Pivot low boxes independently ~extend boxes fully to the right (default is not extend) ~toggle on/off text ~text & box formatting options
Eur/Usd; 15m chart; Pivot lookback = 30; 10pip sweep boxes; Boxes extended fully to the right:
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-note the above 2 demo charts titles are mistakenly switched around -Update: added optional price labels marking price at the extent of the chosen sweep box (default is toggled off)
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-added box width input; added box border color option
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-Added Alert conditions: Need to be manually set from indicator status line. Alert will always trigger to the latest freshly painted box. Alert level based on the indicator settings at the time of setting the alert.
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-Added optional 'spikeyness' filter for Pivot highs/lows (default off): Use to filter-out smooth/unimpressive/weak pivot high&lows. Higher number for more spikey / less-rounded pivot highs & lows. -Added Sweep spacings for use in Bond market too.
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-added box height = zero option; for Alert condition where you simply want to get alert when pivot high/low is touched or peeped through
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-added independent 'leftbars' and 'rightbars' for finding pivots; reduce 'rightbars' to confirm pivots faster, but at the cost of potentially less significant pivots
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-Added 'Wait one bar' condition to avoid repainting; Default is toggled ON.
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-added optional ATR(10) percentage input to determine box height / sweep distance; thus accounting for volatility differences throughout the day. Default is toggled OFF. -percentage can be greater than 100. ATR length is set to 10 bars, this can be changed by editing line 36. -thanks to @SweetRoll for the idea
@twingall mate, after using it for so long and testing the better value for grade sweep and correlate it to how good is 5 pips sweep on GU and 5 handle on NAS, is it possible to have setting that automatically adjust the "the sweep box size" to % ATR current/highertimeframe ATR?
this is due to to my data that both GU and NAS setup works better when on london killzones, and i check the history that GU on london killzones always had ATR of 5 pips on 5 minute timeframe, moreover NAS setup way higher winrate when 5 handle sweep happen at london killzones when actually at that session NAS atr(5 min timeframe) are around 7-10 handles) compared to NAS 20 handles ATR at NY.
this is also supported by the fact by recently spread "silver bullet" that is taken into account a *sweep to MSS* is ok to happen pre silver bullet time, when i look on multi month reasoning of this are... sweep that happen preseason are on lower ATR(at low timeframe a.k.a 5 min or lower), so the sweep more meaningful at that time.
@SweetRoll, the same happen thing repeat on other pair like USDCHF,GBPJPY,UK100..... the real sweep distance before valid entry are between 70 % to 130 % of ATR ot where the indicator plot liquidity box
@SweetRoll, @ukmpits, Done, tks for the idea: updated with option to use ATR percentage input to determine sweep distance / box height. Default is toggled off.
is it possible to have setting that automatically adjust the "the sweep box size" to % ATR current/highertimeframe ATR?
this is due to to my data that both GU and NAS setup works better when on london killzones,
and i check the history that GU on london killzones always had ATR of 5 pips on 5 minute timeframe,
moreover NAS setup way higher winrate when 5 handle sweep happen at london killzones when actually at that session NAS atr(5 min timeframe) are around 7-10 handles)
compared to NAS 20 handles ATR at NY.
this is also supported by the fact by recently spread "silver bullet" that is taken into account a *sweep to MSS* is ok to happen pre silver bullet time,
when i look on multi month reasoning of this are...
sweep that happen preseason are on lower ATR(at low timeframe a.k.a 5 min or lower), so the sweep more meaningful at that time.