This is a comprehensive technical analysis overlay indicator called "Scalper Overlay with RSI Bars & Key Levels".
It combines several powerful trading tools and patterns in one indicator:
1. Moving Averages System: - Plots four Smoothed Moving Averages (SMMA) at 20, 50, 100, and 200 periods - Includes a 2-period EMA with trend filling (green when trending up, red when trending down)
2. RSI Integration: - Features a 14-period RSI implementation - Displays colored candles based on RSI levels (green above 70, red below 30) - Includes toggle options for RSI candle visibility and color customization
3. Pattern Recognition: - Three Line Strike patterns (both bullish and bearish) - Three White Soldiers and Three Black Crows patterns - Harami patterns (bullish and bearish) - Engulfing candle patterns (labeled as "Big A$$ Candles")
4. Trading Session Tools: - Customizable trading session visualization - Timezone selection (multiple options from Sydney to Chicago) - Flexible session time settings - Day-of-week session filtering - Background highlighting for active trading sessions
This indicator is particularly useful for scalpers and day traders who want to: - Identify trend direction using multiple timeframe analysis - Spot potential reversal patterns - Monitor trading sessions - Track momentum using RSI - Identify strong candlestick patterns
The indicator offers extensive customization options through its inputs, allowing traders to show/hide various components and adjust colors and parameters to their preferences.