Advanced Volume-Driven Breakout SignalsThe "Advanced Volume-Driven Breakout Signals" indicator is a cutting-edge tool designed to help traders identify high-potential trading opportunities through sophisticated volume analysis techniques. This indicator integrates volume flow analysis, moving averages, and Relative Volume (RVOL) to provide a comprehensive view of market conditions, going beyond traditional Volume Spread Analysis (VSA) methods.
Key Features:
Volume Flow Analysis: Distinguishes bullish and bearish volume flows with distinct colors, making it easier to visualize market sentiment and potential breakout points.
Volume Flow Moving Averages: Calculates moving averages for volume using various methods (SMA, EMA, WMA, HMA, VWMA), accommodating different trading strategies. This includes settings for adjusting the type of moving average and its period, as well as thresholds for high, medium, and low volume levels.
Volume Spikes Detection: Identifies significant volume spikes based on user-defined multipliers and moving averages, highlighting unusual trading activity.
Volume MA Cloud Settings: Computes general moving averages of volume to track trends and detect deviations. This feature includes options to select different moving average types and adjust thresholds for detecting high volume activity.
Relative Volume (RVOL): Measures current volume relative to historical averages, triggering signals when RVOL exceeds predefined thresholds, indicating notable changes in trading activity.
Entry Conditions: Provides clear long and short entry signals based on combined volume flow conditions and RVOL, offering actionable trading opportunities.
Volume Visualization:
— Bullish Volume Flow: Light and dark green bars indicate bullish volume flow.
— Bearish Volume Flow: Light and dark red bars denote bearish volume flow.
— High Volume Bars: Highlighted in yellow, and extreme volume bars in orange for additional context. These bars are plotted for visual aid and do not directly influence trade signals, focusing instead on the quality and strength of the volume flow.
Alerts: Allows users to create alert notifications for long and short entry signals when the criteria are met, enabling traders to respond promptly to trading opportunities.
Usage:
Overlay: Apply the indicator directly to your price chart to visualise real-time signals and volume conditions.
Customisable: Adjust settings for moving averages, RVOL, and other parameters to match your trading strategy and preferences.
Comparison to VSA Scripts: The "Advanced Volume-Driven Breakout Signals" indicator extends beyond traditional VSA scripts by incorporating a wider range of analytical features. While VSA primarily focuses on volume spread patterns and price action, this indicator offers enhanced functionality with advanced RVOL metrics, customizable moving averages, and detailed volume spike detection, making it a more versatile tool for identifying breakout opportunities and managing trades. It is particularly effective when used alongside key levels and order blocks.
Acknowledgements: Special thanks to @oh92 and @goofoffgoose for their invaluable scripts, which served as inspiration in the development of this advanced trading indicator.
Notes: The script is continually evolving, with ongoing refinements aimed at enhancing accuracy and performance.
K線分析
Chronos Sequential Compass (CSC)The Chronos Sequential Compass (CSC) is an advanced technical analysis tool used to identify potential price exhaustion points, trend reversals, and provide a framework for understanding market structure.
Key Components:
Setup Phase:
Bullish Setup: 9 consecutive closes lower than the close 4 bars earlier.
Bearish Setup: 9 consecutive closes higher than the close 4 bars earlier.
Visualized by green (bullish) or red (bearish) triangles on the chart.
Countdown Phase:
Starts after a Setup is completed.
Counts from 1 to 13(D), comparing the close to the low (for bullish) or high (for bearish) two bars earlier.
Displayed as numbers below (bullish) or above (bearish) the price bars.
Setups:
A Setup is complete when the low of bars 6 and 7 in a bullish Setup are exceeded by the low of bar 9.
For bearish Setups, the high of bars 6 and 7 must be exceeded by the high of bar 9.
Risk Levels:
Established when a Countdown reaches 13(D).
Acts as a reference point for potential trend reversals.
Countdown Delayed:
Indicated by a '+' symbol.
Occurs when a Countdown reaches 13(D) but doesn't meet specific criteria for completion.
Recycling:
Resets the Countdown if a strong opposite trend emerges during the Countdown phase.
How to Use the CSC:
Trend Identification:
Consecutive Setups in one direction indicate a strong trend.
Look for potential trend exhaustion when Setups start appearing in the opposite direction.
Potential Reversal Points:
Pay attention when a Countdown reaches 13, especially if it coincides with other technical factors (support/resistance, chart patterns, etc.).
A completed Countdown doesn't guarantee a reversal but suggests increased probability.
Risk Management:
Use Risk Levels as potential stop-loss points or profit-taking levels.
Be cautious of trades against the trend when price is far from the Risk Level.
Confluence with Price Action:
Look for candlestick patterns or chart formations at key Sequential levels for higher probability setups.
Timeframe Coordination:
Consider using CSC on multiple timeframes for a more comprehensive market view.
Higher timeframe signals often carry more weight.
Delayed Countdowns:
A delayed Countdown (indicated by '+') suggests the trend might continue.
It can provide opportunities for trend continuation trades.
Setup:
Setups often provide stronger signals and may lead to more significant moves.
Reversals should occur within 4 bars of setup signals
Completed Countdowns:
Reversals should occur within 12 bars of completed countdowns
Vasyl Ivanov | FVG, imbalanceFair Value Gap (FVG) / Imbalance Indicator
This indicator is specifically designed to help traders detect Fair Value Gaps (FVG) and Imbalance in the market, highlighting key areas where price action may return to "fill the gap" or restore balance. Additionally, it detects strong FVG scenarios, where Break of Structure (BoS) intersects with an FVG, giving traders an extra level of insight.
Key Features:
Fair Value Gap (FVG) Detection:
The indicator identifies FVGs, which occur when the price leaves an unfilled gap between two bars. These gaps often act as key price targets for future market action, providing potential entry or exit points.
Imbalance Detection:
Imbalances occur when there is a discrepancy between buying and selling pressure, leaving price gaps that the market often seeks to fill. This feature highlights these imbalances on the chart.
Strong FVG Highlighting:
A Strong FVG is marked when there’s an intersection between a Break of Structure (BoS) and an FVG. This situation is highlighted with a distinct color, drawing attention to areas of higher importance where both a BoS and FVG are present, signaling potential significant price moves.
How It Works:
The FVG / Imbalance Indicator scans price action for gaps where price moves too quickly, leaving areas of imbalance:
Fair Value Gaps (FVG) are detected when price leaves a gap, signaling potential levels where the price may retrace.
Imbalance is identified when buying and selling pressure is uneven, leading to unfilled gaps in price action.
Strong FVG detection combines FVG with BoS, highlighting critical zones where price is likely to react significantly due to a structural shift and a gap in price action.
Use Cases:
Gap Trading: Use the FVG indicator to identify potential levels where the market may return to fill the gap, offering valuable entry and exit points.
Detecting Imbalance: Spot areas of price imbalance, which can act as magnets for price retracements.
Key Reversal Zones: Strong FVGs highlight potential reversal or continuation points where both a BoS and FVG intersect, making these zones crucial for high-probability trading opportunities.
Why It’s Unique:
This indicator goes beyond basic FVG and imbalance detection by introducing Strong FVGs, offering traders an advanced tool to identify crucial market zones where structural changes and gaps intersect. The distinct color for Strong FVGs ensures traders don’t miss these high-impact areas.
Vasyl Ivanov | BOS IndicatorBreak of Structure (BoS) & Change of Character (CHoCH) Indicator
This indicator is designed for traders who need to identify critical market turning points, such as Break of Structure (BoS) and Change of Character (CHoCH), to optimize their entry and exit strategies. It offers flexibility and customization to adapt to different trading styles and markets.
Key Features:
Detect Break of Structure (BoS):
The indicator automatically identifies BoS points, highlighting areas where price breaks key support or resistance levels, signaling potential trend continuation or reversal.
Detect Change of Character (CHoCH):
Detects CHoCH, where a sudden shift in market structure occurs, helping traders identify potential reversals earlier.
Customizable Min and Max Length for BoS Detection:
Adjust the minimum and maximum length to refine how the indicator detects BoS based on the market’s volatility and your trading style. This ensures flexibility across different asset classes and timeframes.
Multiple BoS Parameters with Different Styles:
You can configure multiple BoS parameters with individual styles, colors, and line types, allowing you to distinguish between various BoS scenarios for better chart visualization.
How It Works:
The BoS & CHoCH Indicator analyzes price action to detect significant shifts in market structure:
Break of Structure (BoS) occurs when the price breaks beyond a defined range, indicating a possible trend continuation or reversal.
Change of Character (CHoCH) marks a sudden change in the market direction, often signaling the start of a new trend.
With customizable min and max lengths for BoS detection, traders can tailor the indicator to filter out insignificant breaks and focus on meaningful market movements.
Use Cases:
Trend Continuation: Detect BoS to confirm that the current trend is likely to continue, offering potential entry points in the direction of the trend.
Reversal Identification: Use CHoCH detection to identify possible trend reversals early, enabling you to adjust your strategy accordingly.
Chart Clarity: Customize the styling of BoS markers to suit your chart preferences, making key market points more visible for analysis.
Why It’s Unique:
This indicator combines BoS and CHoCH detection with full customization options, giving traders the ability to fine-tune its sensitivity to market movements. By allowing multiple BoS parameters with different visual styles, it’s suited for both intraday scalping and longer-term trading strategies.
Vasyl Ivanov | Order BlocksOrder Blocks Indicator for Long-Term Traders and Scalpers
This indicator is designed to identify order blocks (OBs) across multiple timeframes, offering flexible and adaptable detection mechanisms for both strong and weaker price movements.
Key Features:
Flexible OB Detection:
Detects order blocks with 3 candles during strong movements.
Detects order blocks with 4 candles during weaker movements.
Identifies the highest or lowest extremum between the 1st and 2nd candles to define the starting point of the OB, ensuring accuracy in ranging and trending markets.
In cases where the 2nd candle's extremum is the highest/lowest, the OB size adjusts accordingly.
Multi-Timeframe Analysis:
This indicator enables seamless multi-timeframe order block analysis, removing the need to manually switch between timeframes.
Timeframe mapping:
For intraday and lower timeframes:
< 5 min maps to 30 min
<= 15 min maps to 1 hour
<= 1 hour maps to 4 hours
All other intraday maps to 1 day
Daily charts and higher map to 1 week
This automatic adjustment lets you view both current and parent timeframe order blocks without hassle.
Customizable Backtest Analysis:
The indicator includes a "Show/Hide Overlapped Order Blocks" feature, allowing you to hide order blocks that have already been overlapped. This feature aids in backtesting and historical analysis by offering a cleaner view of how past price action interacted with detected blocks.
Color Differentiation by Timeframe:
Customize different colors for local and parent timeframes to easily differentiate order blocks from various timeframes at a glance.
Candle Wicks Customization:
The 'Use Candle Wicks' option allows you to include or exclude candle wicks in OB detection, giving you flexibility in how the blocks are drawn based on your trading style.
How It Works:
This indicator detects key price zones based on order block patterns, which are often followed by significant price moves. By analyzing these blocks across multiple timeframes, it helps traders identify potential reversal areas and support/resistance zones more effectively.
Use Cases:
Scalping: Scalpers can benefit from the rapid detection of short-term OBs to make quick decisions based on high-probability setups.
Long-Term Trading: Longer-term traders can use the multi-timeframe feature to spot higher timeframe OBs while trading lower timeframes, allowing for better alignment with major market movements.
Why It’s Unique:
Unlike other OB indicators, this one combines multi-timeframe detection with customizable OB sizing, extremum detection, and color-coding for clear differentiation between timeframes. Its backtest feature enhances historical analysis, providing a comprehensive toolkit for traders aiming to improve decision-making.
Yesterday's Levels with 50% wick and Equilibrium## Script Description
This Pine Script indicator highlights key levels from the previous day’s daily candle on any timeframe chart. It focuses exclusively on marking the following:
1. **Previous Day’s High, Low, Open, and Close**:
- Horizontal lines are drawn to indicate the previous day's high, low, open, and close prices.
- These lines are white and extend across the chart.
2. **50% of Candle Wicks**:
- If the previous day’s candle has wicks, two additional lines mark 50% of the top wick and 50% of the bottom wick.
- These lines are green and dotted, representing half the wick’s height.
3. **Equilibrium (50% of the Full Candle)**:
- A horizontal red line marks the midpoint (equilibrium) of the entire previous day’s candle, from high to low.
- This line is thicker than the others to emphasize the equilibrium level.
The script works by focusing only on the previous day’s daily candle, ensuring that it doesn’t plot lines for any older candles. These levels are visible on all timeframes.
Optimized Heikin Ashi Strategy with Buy/Sell OptionsStrategy Name:
Optimized Heikin Ashi Strategy with Buy/Sell Options
Description:
The Optimized Heikin Ashi Strategy is a trend-following strategy designed to capitalize on market trends by utilizing the smoothness of Heikin Ashi candles. This strategy provides flexible options for trading, allowing users to choose between Buy Only (long-only), Sell Only (short-only), or using both in alternating conditions based on the Heikin Ashi candle signals. The strategy works on any market, but it performs especially well in markets where trends are prevalent, such as cryptocurrency or Forex.
This script offers customizable parameters for the backtest period, Heikin Ashi timeframe, stop loss, and take profit levels, allowing traders to optimize the strategy for their preferred markets or assets.
Key Features:
Trade Type Options:
Buy Only: Enter a long position when a green Heikin Ashi candle appears and exit when a red candle appears.
Sell Only: Enter a short position when a red Heikin Ashi candle appears and exit when a green candle appears.
Stop Loss and Take Profit:
Customizable stop loss and take profit percentages allow for flexible risk management.
The default stop loss is set to 2%, and the default take profit is set to 4%, maintaining a favorable risk/reward ratio.
Heikin Ashi Timeframe:
Traders can select the desired timeframe for Heikin Ashi candle calculation (e.g., 4-hour Heikin Ashi candles for a 1-hour chart).
The strategy smooths out price action and reduces noise, providing clearer signals for entry and exit.
Inputs:
Backtest Start Date / End Date: Specify the period for testing the strategy’s performance.
Heikin Ashi Timeframe: Select the timeframe for Heikin Ashi candle generation. A higher timeframe helps smooth the trend, which is beneficial for trading lower timeframes.
Stop Loss (in %) and Take Profit (in %): Enable or disable stop loss and take profit, and adjust the levels based on market conditions.
Trade Type: Choose between Buy Only or Sell Only based on your market outlook and strategy preference.
Strategy Performance:
In testing with BTC/USD, this strategy performed well in a 4-hour Heikin Ashi timeframe applied on a 1-hour chart over a period from January 1, 2024, to September 12, 2024. The results were as follows:
Initial Capital: 1 USD
Order Size: 100% of equity
Net Profit: +30.74 USD (3,073.52% return)
Percent Profitable: 78.28% of trades were winners.
Profit Factor: 15.825, indicating that the strategy's profitable trades far outweighed its losses.
Max Drawdown: 4.21%, showing low risk exposure relative to the large profit potential.
This strategy is ideal for both beginner and advanced traders who are looking to follow trends and avoid market noise by using Heikin Ashi candles. It is also well-suited for traders who prefer automated risk management through the use of stop loss and take profit levels.
Recommended Use:
Best Markets: This strategy works well on trending markets like cryptocurrency, Forex, or indices.
Timeframes: Works best when applied to lower timeframes (e.g., 1-hour chart) with a higher Heikin Ashi timeframe (e.g., 4-hour candles) to smooth out price action.
Leverage: The strategy performs well with leverage, but users should consider using 2x to 3x leverage to avoid excessive risk and potential liquidation. The strategy's low drawdown allows for moderate leverage use while maintaining risk control.
Customization: Traders can adjust the stop loss and take profit percentages based on their risk appetite and market conditions. A default setting of a 2% stop loss and 4% take profit provides a balanced risk/reward ratio.
Notes:
Risk Management: Traders should enable stop loss and take profit settings to maintain effective risk management and prevent large drawdowns during volatile market conditions.
Optimization: This strategy can be further optimized by adjusting the Heikin Ashi timeframe and risk parameters based on specific market conditions and assets.
Backtesting: The built-in backtesting functionality allows traders to test the strategy across different market conditions and historical data to ensure robustness before applying it to live trading.
How to Apply:
Select your preferred market and chart.
Choose the appropriate Heikin Ashi timeframe based on the chart's timeframe. (e.g., use 4-hour Heikin Ashi candles for 1-hour chart trends).
Adjust stop loss and take profit based on your risk management preference.
Run backtesting to evaluate its performance before applying it in live trading.
This strategy can be further modified and optimized based on personal trading style and market conditions. It’s important to monitor performance regularly and adjust settings as needed to align with market behavior.
9/13/00 Pivots [Rainbow Trends]The 9/13/00 Pivot indicator is a tool that is able to highlight support and resistance levels in relation to the 9, 13 and extended counts of the trending price action. While numerous traders trade the 9/13 counts, this tool is unique in that it continues counting past the 9 level and will mark extended runs coming to an end with a vertical Red or Green Column.
The indicator identifies levels based on both 9,13 and extended counts, but splits them into both Support and Resistance levels and marks each level with a horizontal pivot. The level being Support/Resistance can be determined by the colors of the pivot. In addition, this tool Note that these styles of pivots and colors can be edited in the tool settings.
This calculation is based on the value of the current close compared to the close that happened 4 candles back.
Condition: sequence := close > close
seq := close > close
When this condition is true for 9 or 13 consecutive closes in a row, the indicator will mark the candle with the current number count as well as drawing a horizontal pivot to indicate the importance of the price level.
Sequences
Pivots
Extended Trends Ending/Exhausting
Annotated Chart
Annotated Extended Trends Ending/Exhausting
Scalp Trading Zone
Settings
Toggle Settings - Allows each visual aspect of the indicator to be enabled/disabled.
Pivot Color Settings - Allows the trader to custom tune the colors for their own style.
Candle Settings - The candles are individually marked color wise to visually draw the user's eyes to the change in candle color.
First 5-Minute ORB Levels with Hour Offset### Indicator Overview: First 5-Minute ORB Levels with Hour Offset
This indicator is designed for traders who want to track the high and low of the first 5-minute candle of a trading session, specifically starting at 9:30 am EST (New York time) by default. The lines representing these levels, known as the "Opening Range Breakout" (ORB) levels, are extended across the trading session until the market close at 4:00 pm EST. The indicator provides the following features:
1. **Real-Time Updates**:
- As the first 5-minute candle of the session forms (from 9:30 am to 9:35 am EST), the indicator dynamically updates the high and low lines.
- After the candle completes, the lines are locked in place and extend horizontally across the chart until market close.
2. **Customizable Hour Offset**:
- Users can adjust the start time of the session by specifying an hour offset. This feature is particularly useful for traders operating in different time zones or those who want to analyze custom session times.
- For example, if you trade in a time zone where the session starts at 8:30 am local time instead of 9:30 am EST, you can set the hour offset to `-1` to adjust the start time accordingly.
3. **Visual Labels**:
- The indicator places labels at the end of the lines, clearly marking the "5m ORB High" and "5m ORB Low" levels. These labels are updated in real-time as the first 5-minute candle forms and are fixed in place once the candle closes.
### How to Adjust the Settings:
1. **Hour Offset**:
- **Description**: The hour offset allows you to shift the start time of the session. The default start time is 9:30 am EST, but you can change this using the hour offset.
- **How to Adjust**:
- Open the indicator settings.
- Locate the "Hour Offset" field.
- Enter a positive or negative integer value to shift the session start time.
- **Example**:
- `0` (default): Start at 9:30 am EST.
- `-1`: Start at 8:30 am EST.
- `+1`: Start at 10:30 am EST.
- The indicator will then track the first 5-minute candle starting at the adjusted time and plot the high and low accordingly.
2. **Line and Label Appearance**:
- The lines representing the ORB levels are green by default, and the labels are also green with white text for clear visibility on the chart. The labels are positioned to the right of the lines to avoid cluttering the chart.
### Use Cases:
- **Opening Range Breakout Strategy**: Traders often use the ORB strategy to identify potential breakout points during the trading day. By marking the high and low of the first 5-minute candle, this indicator helps traders quickly identify key levels where price might break out or reverse.
- **Custom Session Analysis**: If you trade in a different time zone or need to analyze a different session (e.g., pre-market or after-hours), the hour offset feature allows you to adapt the indicator to your needs.
This indicator is particularly valuable for intraday traders who rely on the initial volatility of the trading session to make informed decisions.
Multi-Asset Cross Timeframe Divergence Ind. (MACDI) // AlgoFyreThe Multi-Asset Cross Timeframe Divergence Indicator (MACDI) identifies divergences in momentum like RSI across multiple assets and timeframes. It visually highlights lagging correlated asset momentum divergences, helping traders spot inefficiencies and potential trade opportunities in the following asset.
🔶 KEY FEATURES
🔸Average Momentum Trendline for Each Timeframe
The Average Momentum Trendline feature calculates the average momentum of multiple assets over specified timeframes. It uses smoothed values to determine the momentum trend for each timeframe on the average aggregated momentum of both assets. This trendline helps traders identify the overall direction of the market momentum, providing a clearer picture of potential price movements.
🔸Real-time Divergence Indication and Alert Table
The Real-time Divergence Indications and Alert Table feature visualizes detected divergences between the momentum values of the two assets across different timeframes. It identifies both bullish and bearish divergences, signaling lagging reversals in the the following asset and potential trading opportunities. When a divergence is detected, the system generates real-time visual indications on the chart and in an overview table for traders to act promptly. The alert table provides a comprehensive overview of all detected divergences, making it easier for traders to monitor and respond to market changes.
🔸Color and Size Based Labels on Price Chart based on Divergence Type
The Color and Size Based Labels feature visually represents divergences directly on the price chart. Bullish and bearish divergences are marked with distinct colors and sizes, making them easily identifiable at a glance. Larger labels indicate higher timeframes and thus generally more significance.
🔶 INSTRUCTION GUIDELINES
🔸Identify Divergence Clusters
The more divergences align, the higher the probability of a potential trend reversal in the asset. When multiple multi-timeframe divergences occur in both lower and higher timeframes within a local cluster, the probability of a reversal increases. This is valid for both for bullish and bearish divergences.
🔸Spot Low Probability Divergences
To further increase the probability, analyze the current state of the average momentum trendline. For a bullish reversal, a relatively low level of the average momentum trendline is preferred, whereas for a bearish reversal, a relatively high level is preferred.
🔶 INDIVIDUAL CONFIGURATION
🔸Leading Asset
This input allows the user to select the leading asset for the divergence analysis.
🔸Following Asset
This input allows the user to select the following asset for the divergence analysis.
🔸Higher Timeframe
This input sets the higher timeframe for the analysis.
🔸Lower Timeframe
This input sets the lower timeframe for the analysis.
🔸Show RSI Divergence
This input enables or disables the display of RSI divergence signals.
🔸RSI Length
This input sets the length of the RSI calculation.
🔸RSI Source
This input sets the source data for the RSI calculation (e.g., close price).
🔸RSI Smoothing Length
This input sets the length of the smoothing applied to the RSI values.
🔸Smoothing Method
This input sets the method used for smoothing the RSI values.
🔶 CONCLUSION
The Multi-Asset Cross Timeframe Divergence Indicator (MACDI) is a powerful tool for identifying momentum divergences across multiple assets and timeframes. Its visual cues and customizable table make it easy to use and interpret, providing valuable insights for trading decisions.
[ROC3] Rate of Change Candle ColorROC is a statistical indicator which tracks how much a security's price has changed over a certain period, showing whether momentum is picking up or slowing down. It’s a handy tool because it helps traders spot trend changes and understand how strong a trend is.
My ROC3 indicator will color the candlesticks based on the Rate of Change (ROC) and its Exponential Moving Average (EMA). This indicator helps traders visually identify bullish and bearish trends by applying color to the candles, making it easier to spot momentum shifts and trend changes.
How It Works:
Rate of Change (ROC): Calculates the percentage change in the price over a specified number of bars. This indicator measures the speed at which price changes.
EMA of ROC: Applies an Exponential Moving Average to the ROC values to provide a smoothed benchmark. The EMA helps to reduce noise and make trend identification more reliable.
Coloring Logic:
Bullish Candles (Green): When the current ROC is higher than the EMA of the ROC.
Bearish Candles (Red): When the current ROC is lower than the EMA of the ROC.
Settings:
ROC Length (Default: 60): The number of bars used to calculate the Rate of Change. Adjust this parameter to change the sensitivity of the ROC calculation.
ROC EMA Length (Default: 7): The number of bars used to calculate the Exponential Moving Average of the ROC. This length determines how smooth the EMA is. A shorter length reacts faster to price changes, while a longer length provides a smoother, slower response.
How to Use:
Apply the Indicator: Add the Rate of Change Candle Color indicator to your TradingView chart.
Interpret the Colors:
Green Candles: Indicate bullish momentum. The current ROC is greater than its EMA, suggesting upward pressure.
Red Candles: Indicate bearish momentum. The current ROC is less than its EMA, suggesting downward pressure.
Adjust Settings: Customize the ROC Length and ROC EMA Length based on your trading strategy. Shorter ROC lengths may capture more short-term trends, while longer lengths provide a broader view.
Combine with Other Indicators: Use the in conjunction with other technical indicators or chart patterns to enhance your trading analysis.
Example Use Case:
Trend Confirmation: Use the color changes to confirm bullish or bearish trends. Green candles can confirm uptrends, while red candles may signal downtrends or potential reversals.
Momentum Analysis: Monitor how frequently the ROC crosses above or below its EMA to gauge momentum strength and make informed trading decisions.
Note:
This indicator is designed to assist with trend analysis and should be used as part of a broader trading strategy. Always conduct your own research and analysis before making trading decisions.
Cherio...
[DarkTrader] 3 Candle EG ZoneThe 3 Candle EG Zone indicator identifies engulfing patterns and plots dynamic boxes around these zones. The engulfing patterns are key reversal signals where one candle's body completely engulfs the body of the previous candle, indicating a shift in market sentiment. This indicator identifies both bullish and bearish engulfing patterns and draws visual boxes around them, which extend to the right on the chart to show how the zones evolve over time.
EG Calculation by @moamenmostafa Script.
Indicator In Use :
Customization Parameters :
Max EG Box Showing: Defines the maximum number of engulfing (EG) boxes that can be displayed on the chart simultaneously. This helps to limit chart clutter by ensuring that only a specified number of zones are visible.
Pivot EG Box Offset: Sets how far to extend the engulfing box to the right from the current candle. This makes the box continue into future price action, highlighting the significance of the engulfing zone.
Zone Color: Customizes the color and transparency of the engulfing zone box, allowing users to set their preferred color to differentiate bullish and bearish zones.
Bullish Engulfing (Bullish EG):
The code checks if the last three candles have been bearish (open higher than close), and then the current candle is bullish (close higher than open) with a strong upward move. Additionally, the bullish candle must engulf the previous bearish candle, indicating a potential upward reversal. If this condition is true, a box is drawn around the low and high of the last candle.
Bearish Engulfing (Bearish EG):
Similarly, the code checks for three consecutive bullish candles (open lower than close), followed by a bearish candle (open higher than close) that engulfs the previous bullish candle. This signifies a possible downward reversal, and a box is drawn around the last candle's range.
The script continuously checks for bullish or bearish engulfing patterns and dynamically draws boxes around those zones. The boxes remain visible as long as the price stays within the engulfing zone's range. If the price exceeds the zone, the box is deleted, ensuring that only valid and current zones are shown on the chart.
APB candle(Average Price Bar)
APB Candle (Average Price Bar) with Heikin Ashi and Default Candle ON/OFF Control
Description (日本語解説は下記):
The APB Candle (Average Price Bar) provides a smoother and clearer visualization of market trends compared to standard candlesticks or Heikin Ashi. Unlike regular candlesticks, which display raw price data, APB candles calculate the average of open, high, low, and close prices, effectively filtering out short-term noise and minor fluctuations. This allows traders to focus on overall trends rather than being distracted by small, unpredictable price movements.
Why APB is superior:
・Better Trend Identification: APB candles smooth price data more effectively than standard candlesticks, making it easier to spot sustained trends.
・Reduced Market Noise: While Heikin Ashi also filters noise, APB provides a clearer view of actual price averages, offering a better balance between smoothing and staying close to the real price.
・Clear Entry and Exit Signals: By smoothing out minor fluctuations, APB candles can provide clearer signals for entering and exiting trades, particularly in volatile markets.
Key Features:
１．APB Candle ON/OFF: Display smoothed average price bars that filter out minor fluctuations, making trends clearer.
２．Heikin Ashi Candle ON/OFF: Remove market noise and visualize smoother trends using Heikin Ashi candles.
３．Default Candle ON/OFF: Compare APB and Heikin Ashi candles with the standard TradingView candles.
４．Customizable Colors: Personalize the colors of bullish and bearish candles, including the body, wick, and border.
５．Color Shift Threshold: Adjust the transparency of APB candles based on a user-defined threshold for smaller body sizes.
６．Countdown Timer: See how much time remains before the next candle forms, with customizable size, position, and color.
Trading Strategy:
・Trend Following with APB: Use APB candles to identify smoother trends by filtering out minor price fluctuations. This can be useful for trend-following strategies in volatile markets.
・Heikin Ashi for Reversals: Heikin Ashi candles help to smooth out trends, making it easier to spot potential reversals. When switching from red to green (or vice versa), it could signal a change in direction.
・Compare APB, Heikin Ashi, and Default Candles: For confirmation, compare APB and Heikin Ashi signals with default candlesticks to ensure reliability before entering a trade.
Benefits:
・Customizable Visualization: You can quickly switch between different candle types, depending on your strategy, without changing your chart setup.
・Clear Trend Identification: APB and Heikin Ashi candles help filter out noise, making it easier to see trends and reversals.
・Multiple Timeframes: Works well on multiple timeframes, allowing for flexible trading strategies.
Drawbacks:
・Smoothing May Hide Important Details: While APB and Heikin Ashi smooth price action, they might obscure key price points or signals on smaller timeframes.
・Potential Over-Reliance on Visuals: Relying too much on smoothed candles might cause traders to miss underlying market conditions or important price levels visible in traditional candlesticks.
APBキャンドル（平均価格バー）とヘイキンアシ、デフォルトローソク足のON/OFF制御
説明:
**APBキャンドル（平均価格バー）**は、標準のローソク足やヘイキンアシに比べ、よりスムーズで明確なトレンドの視覚化を提供します。通常のローソク足が生データをそのまま表示するのに対し、APBキャンドルはオープン、高値、安値、終値の平均を計算してノイズを除去し、小さな価格変動をフィルタリングします。これにより、短期的なノイズに惑わされることなく、全体的なトレンドに集中することが可能です。
APBが優れている理由:
・トレンドの把握が容易: APBキャンドルは標準のローソク足よりも価格データを滑らかにし、持続的なトレンドを見つけやすくします。
・市場ノイズの削減: ヘイキンアシもノイズをフィルタリングしますが、APBは実際の価格平均に基づいており、スムージングと実際の価格データのバランスが優れています。
・エントリー・エグジットの明確化: 小さな変動を滑らかにすることで、特にボラティリティの高い市場でのエントリー・エグジットシグナルが明確になります。
主な機能:
１．APBキャンドルのON/OFF: 小さな価格変動をフィルタリングし、トレンドを明確に表示します。
２．ヘイキンアシキャンドルのON/OFF: ノイズを取り除き、スムーズなトレンドを視覚化します。
３．デフォルトローソク足のON/OFF: 標準のローソク足との比較を容易にし、戦略に応じて使用可能です。
４．色のカスタマイズ: 上昇時と下降時のローソク足の色を自由に設定可能。
色変化のしきい値設定: APBキャンドルのボディサイズが小さい場合に色を薄くするしきい値を設定できます。
５．カウントダウンタイマー: 各ローソク足の下に、次のローソク足が形成されるまでの残り時間を表示します。
トレード戦略:
・APBでのトレンドフォロー: APBキャンドルを使って、スムーズなトレンドを確認し、ボラティリティの高い市場でトレンドフォロー戦略を取る。
・ヘイキンアシでの反転シグナル確認: ヘイキンアシを使い、上昇（緑）から下降（赤）への色変化を反転シグナルとして利用。
・3種類のローソク足の比較: APB、ヘイキンアシ、デフォルトローソク足を比較し、トレンドや反転の信頼性を確認してからエントリーする。
メリット:
・カスタマイズ性が高い: 戦略に応じて3種類のローソク足を自由に切り替え可能。
・トレンドの把握が容易: ノイズを除去してトレンドや反転を明確に把握できる。
・複数タイムフレームで効果的: 複数のタイムフレームで利用可能なため、柔軟な戦略が立てられる。
デメリット:
・重要な情報の隠蔽の可能性: APBやヘイキンアシのスムージングにより、小さな価格変動や重要な価格ポイントが隠れる可能性がある。
・視覚的な判断に依存しすぎるリスク: スムーズなローソク足に頼りすぎることで、標準的なローソク足で確認できる重要な情報を見逃す可能性があります。
注意書き:
１．インジケーターの突然の変更や削除の可能性: このインジケーターは今後予告なく変更や削除される場合がありますのでご注意ください。
２．損失の責任について: このインジケーターを使用したことによる損失に関して、作者は一切の責任を負いません。トレードは自己責任で行ってください。
P.I.B. System (Pin Bar | Inside Bar) // AlgoFyreThe "P.I.B. System (Pin Bar | Inside Bar)" identifies bullish and bearish pin bars and inside bars on a price chart. It highlights potential market reversals by plotting labels and colorizing bars, providing traders with visual cues for better decision-making.
Description
The "P.I.B. System (Pin Bar | Inside Bar)" script is designed to help traders identify potential reversal points in the market by detecting bullish and bearish pin bars and inside bars. A pin bar is a candlestick pattern that indicates a potential reversal, characterized by a small body and a long wick. Inside bars are candlestick patterns where the current bar's high and low are within the previous bar's range, indicating potential consolidation before a breakout.
This script allows customization of various parameters to fine-tune the identification of pin bars and inside bars. When a pin bar or an inside bar is detected, the script plots a label on the chart and colorizes the bars to highlight these patterns. This tool is useful for traders looking to identify potential reversal points and make informed trading decisions.
Explanation of All Options
Pin-Wick Size Ratio Minimum Value : The minimum ratio of the wick size to the total candle size for a pin bar to be considered valid. Default is 0.66.
Candle Body Size Ratio Maximum Value : The maximum ratio of the body size to the total candle size for a pin bar to be considered valid. Default is 0.4.
Handle-Wick Wick Size Ratio Maximum Value : The maximum ratio of the opposite wick size to the total candle size for a pin bar to be considered valid. Default is 0.4.
Filter Out Small Candles : Option to filter out small candles based on the previous candle's size. Default is true.
Small Candle Size Ratio : The ratio used to determine if a candle is considered small compared to the previous candle. Default is 2.0.
Identify Inside Bars : Option to identify inside bars following a pin bar. Default is true.
Show Only P.I.B. : Option to show only the bars where a pin bar is followed by an inside bar. Default is true.
Hide Horizontal Rays : Option to hide horizontal rays drawn from the last identified pin bars. Default is false.
How to Use
To use this script, add it to your chart. Customize the input parameters to match your trading strategy. The script will automatically identify and highlight bullish and bearish pin bars and inside bars on the chart. Use the visual cues provided by the labels and colorized bars to make informed trading decisions.
EagleVision.V33 - Inside Pin Bar EagleVision.V33 is a specialized indicator designed for traders who focus on price action. It detects and highlights the Inside Pin Bar candle pattern, a key signal that can indicate potential market reversals or trend continuations. This tool is invaluable for traders who rely on precise candlestick patterns to make data-driven decisions.
Features:
• Customizable Pattern Highlighting: EagleVision.V33 allows traders to choose custom colors to highlight Inside Pin Bar patterns directly on the chart. This makes identifying critical trading signals straightforward, even in busy market conditions.
• Pin Bar Candle Customization: Beyond just highlighting, the indicator enables users to change the color of the detected pin bar itself, ensuring that crucial patterns are immediately visible and easy to track.
• Versatile Timeframe Application: The indicator can be applied across various timeframes, from intraday (1 minute, 5 minutes) to longer-term charts (daily, weekly). Users can easily switch between timeframes within the settings, making it adaptable to different trading strategies.
• Enhanced Visual Clarity with Background Highlighting: For traders who prefer additional emphasis, EagleVision.V33 offers an option to apply a background color that highlights the entire region where the Inside Pin Bar pattern is detected.
How It Works:
• Inside Bar Identification: The indicator first identifies an Inside Bar, where a candle’s high and low fall within the range of the preceding candle (the mother bar). This is a foundational pattern in price action trading.
• Pin Bar Detection: It then checks if the candle is a Pin Bar, characterized by a small body and a prominent wick (either upper or lower), which typically signals potential market turning points.
• Pattern Highlighting & Visualization: Upon detecting both conditions (Inside Bar and Pin Bar), EagleVision.V33 highlights the pattern using customizable shapes and colors, and optionally applies a background shade to further enhance visibility.
Use Cases:
• Reversals at Key Levels: The Inside Pin Bar pattern often appears at significant support or resistance levels, signaling potential reversals. EagleVision.V33 helps traders spot these opportunities early.
• Trend Continuations: In trending markets, this pattern can confirm the continuation of a trend, providing traders with the confidence to hold positions or enter new ones.
Customization Options:
• Pattern Highlight Color: Choose a distinct color for the label or shape that marks the Inside Pin Bar pattern, making it stand out against other chart elements.
• Pin Bar Candle Color: Customize the color of the Pin Bar itself, ensuring that it is immediately recognizable on the chart.
• Background Highlighting: Optionally apply a background color to the chart area where the pattern is detected, further enhancing visual clarity and making it easier to spot potential trading opportunities.
Why EagleVision.V33 Stands Out:
EagleVision.V33 is not just another pattern detection tool; it’s engineered for precision and clarity, with highly customizable features that cater to the unique needs of price action traders. By combining both Inside Bar and Pin Bar detection, it offers a powerful edge, providing traders with actionable insights directly on their charts.
Open Equals Low/High Candles
This Indicator basically helps us to get the candles where Open = Low & Open =High.
Significance:
1) Open = Low Candles
----> Such candles are very powerful, as the Open = Low marks that there aren't any sellers left below the price on that day. Denoting BULLS power and aggression.
2) Open = High Candles
----> Open = High Candles signify that as soon as the markets opened, Bears were very strong, and no buyers left above the opening price for that candle. Denoting Strong BEARISH sentiment and aggression.
PS: This indicator can be used across all timeframes and indices. As it is purely based on Price-Action study.
[MACC] Moving Average Candle ColorThe simplest trading framework is using moving average. This indicator is harnessing that very method.
What It Does:
This indicator helps you see market trends at a glance by changing the color of the candlesticks based on the relationship between two Exponential Moving Averages (EMAs). When the 9-period EMA is above the 21-period EMA, candlesticks turn green, suggesting a bullish trend. When the 9 EMA is below the 21 EMA, candlesticks turn red, indicating a bearish trend.
Why You'll Love It:
Easy Trend Visualization: Quickly spot trends and potential reversals with color-coded candlesticks.
Customizable Settings: Adjust the lengths of the EMAs to fit your trading style. Just change the values in the settings panel and watch the indicator update in real-time.
Optional EMA Lines: See the EMA lines plotted on your chart for added context and trend confirmation.
How to Use It:
Green Candlesticks: It’s a sign that the trend is likely upward.
Red Candlesticks: signaling a potential downward trend.
Customization:
EMA Lengths: You can set the lengths for the 9 EMA and 21 EMA to whatever fits your trading strategy best.
Colors: Adjust the colors if you want to match your chart’s theme.
Get Started: Add this indicator to your TradingView chart and tweak the settings to see how it helps you track market trends more effectively.
Cherio...
Custom Opening Price Levels (PO3)This indicator is designed to assist the trader in identifying the Power of Three through the opens of the candles.
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The PO3 is a concept introduced by ICT. First, you need to have a directional bias for the month or the specific candle in question. It should be of high time frame (HTF BIAS).
At the open of the specific candle, the market will generate interest in the direction opposite to the HTF BIAS, accumulating positions. It will then manipulate the positions of less informed traders to generate the necessary liquidity to fill informed operators positions.
Finally, positions are distributed in favor of the bias.
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The PO3 is a phenomenon that repeats across all timeframes. This indicator is highly customizable and allows the user to choose from a range of timeframes: 3 months, 1 month, 1 week, 1 day, and 3 hours. The indicator displays the last 3 opens for the selected period.
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The script is open-source, so feel free to add more timeframes or open levels if you have coding skills.
Morning & Evening Star Pro (Candle Pattern)Hello Traders!
The Morning & Evening Star Pro indicator often catches the absolute top or bottom of a move and is a reliable reversal indicator. It also provides excellent entries in a strong trending market. For example, in an uptrend you can use a morning star as a pullback entry signal.
The indicator is an advanced tool for identifying powerful reversal patterns in the market. It combines traditional candlestick analysis with modern technical indicators to provide traders with high-probability entry and exit signals.
Key features:
Accurate pattern detection:
Utilizes sophisticated algorithms to identify genuine Morning Star and Evening Star patterns, filtering out false signals.
Trend filter:
Incorporates a customizable Simple Moving Average (SMA) to align signals with the overall market trend, enhancing trade quality.
Volatility awareness:
Integrates Average True Range (ATR) calculations to ensure detected patterns are significant relative to recent price action.
Visual clarity:
Highlights Morning Star and Evening Star patterns with customizable colors and shapes, making them easy to spot on the chart.
Flexible customization:
Offers a wide range of user inputs to tailor the indicator to various trading styles and preferences.
Filtered signal display:
Option to show filtered-out signals, providing insight into the indicator's decision-making process.
Morning Star
Is a bearish reversal (or continuation) pattern consisting of three candles:
A large bearish candle
A small-bodied candle like a Doji or Pin bar
A bullish candle
Evening Star
Is a bullish reversal (or continuation) pattern consisting of three candles:
A large bullish candle
A small-bodied candle like a Doji or Pin bar
A bearish candle
Key differences in this implementation
The middle candle can be either a Doji or a Pin bar, expanding the traditional definition.
The second candle can be a Pin bar, and the third candle can be an outside bar reversal, allowing for more flexibility in pattern recognition.
What makes this indicator unique
Comprehensive pattern analysis:
Goes beyond simple price action by considering multiple factors such as candle body ratios, wick lengths, and relative positions to previous candles.
Adaptive to market conditions:
Uses dynamic thresholds based on recent volatility (ATR) to adjust pattern detection criteria.
Educational value:
The option to display filtered signals helps traders understand why some patterns are rejected, aiding in skill development.
How to Trade with this Indicator:
This indicator often catches the absolute top or bottom of a move and is a reliable reversal indicator. It also provides excellent entries in a trending market. For example, in a strong uptrend you can use morning star signals to enter in a pullback.
Bullish Opportunities:
Look for Morning Star patterns (aqua-colored candles and labels) as potential buy signals.
Bearish Opportunities:
Watch for Evening Star patterns (orange-colored candles and labels) as potential sell signals.
Entry: At next bar open (after the aqua-colored candle for bullish or orange-colored candle for bearish completes)
Stop loss: 2 ticks below/above the pattern's low/high.
Stop loss alternative: If the colored candle is a very strong candle (e.g. for morning star a candle with almost no down wick and a close near the top) the stop goes 2 ticks below/above the colored candle.
Take profit: 3R or use a trailing stop.
Trend Alignment:
For conservative trading, only take trades in the direction of the overall trend as indicated by the SMA.
Note: if you want to see candle coloring of the morning and evening star, you must put the indicator to the top of the object tree.
M2 Global Liquidity Index (Candles)M2 Global Liquidity Index (Candles)
In this enhanced version of the original M2 Global Liquidity Index script by Mik3Christ3ns3n , I've taken the foundational concept and expanded its capabilities for more in-depth analysis and user flexibility. This updated script aggregates M2 money supply data from major global economies—China, the U.S., the Eurozone, Japan, and the U.K.—adjusted by their respective exchange rates, into a customizable global liquidity index.
Key Enhancements:
Candlestick Visualization:
• Instead of a simple line chart, I've implemented a candlestick chart, providing a more detailed representation of liquidity trends with open, high, low, and close values for each period. This allows traders to analyze the index with the same technical tools used for price charts.
Customizable Components:
• Users can now select which components (M2 data and exchange rates) to include in the index calculation, giving you the flexibility to tailor the index to specific economic factors or regions of interest.
Dynamic Color Coding:
• Candles are color-coded based on their performance (bullish or bearish), with customized wick and border colors to enhance visual clarity, making it easier to spot liquidity trends at a glance.
Overlay Option:
• This script is designed to be an overlay, allowing you to plot the Global Liquidity Index directly on your price charts, facilitating comparison between liquidity trends and asset prices.
This enhanced script is ideal for traders and analysts who want a deeper understanding of global liquidity trends and their impact on financial markets.
Octave Scale - AnchoredDescription
The Octave Scale indicator identifies key market levels by multiplying each price point by the twelfth root of 2 (approximately 1.05946), a concept derived from the equal tempered scale in music where each note is spaced evenly to create a consistent step up in frequency. The twelfth root of 2 is used because it represents the precise mathematical interval needed to divide an octave into 12 equal parts, ensuring a balanced progression between each level.
Inspired by the teachings of Michael S. Jenkins, this approach helps traders mark important support and resistance levels, providing a harmonically balanced perspective on market movements. By stepping through these calculated levels, traders can anticipate potential turning points in the market, whether assessing retracement zones or projecting future price targets. The Octave Scale indicator integrates ancient harmonic principles offering a unique tool for understanding and navigating market dynamics.
How to use
Anchor significant highs or lows and edit the source in settings to reflect the swing.
Indicator in use
OHLC, Sessions & Key Levels [Orderflowing]Multi-Timeframe (+) OHLC, Sessions & Key Levels | Custom-Timeframe OHLC | Sessions Analysis | Market Key Levels
Built using Pine Script V5.
Introduction
The OHLC, Sessions & Key Levels Indicator is a tool designed for traders who want to integrate Multi-Timeframe (MTF) OHLC Data, Sessions Analysis, and Key Market Levels into their trading system.
This Indicator can help traders by automatically marking the OHLC, Sessions & Key Levels directly on the price chart, saving time furthermore potentially allowing for better judgement in their trading and risk management process.
Innovation and Inspiration
The Indicator draws from multiple concepts;
The OHLC levels across different timeframes, session-based analysis, and plotting potentially important and pivotal market levels.
Concept Inspiration from ICT-Traders / Market Maker Model Traders.
Use of Open-Source Code
Specific parts of this Indicator's code have been inspired by & further developed from publicly available code originally developed for the MetaTrader platform.
All such integrations have been wired to work within the TradingView environment, specifically using Pine Script Version 5.
Elements have been made to benefit the overall functionality, the code logic, to make sure it offers unique value to TradingView's users.
Core Features
OHLC MTF Analysis
Foundation
This component allows traders to track the Open, High, Low, and Close levels across different timeframes, ranging from intraday periods to yearly data.
Customization
Traders can adjust the bar offset, width, and colors of the OHLC bars, as well as display options. Option to highlight the Open/Close with labels and the High/Low with marks.
Application
The OHLC MTF component gives traders a clear view of important price levels, which can serve as support, resistance, or potential entry/exit points.
Main Trading Sessions & Custom Sessions
Starting Point
The Sessions component relies on the user-inputted key market sessions, defaults include New York, London, Asia, and optionally Sydney. Session Defaults to UTC.
Please Note: Adjust Time Zone in TradingView's Desktop App or Web Interface to use the sessions in correct local time.
Customization
Traders can adjust session names, session times, time zone, visibility, session colors, and session-specific high and low markers.
This allows us to visualize price movements during these selected periods.
Application
By highlighting different trading sessions, traders can potentially better time their trades, understanding when significant price movements usually occur. This can potentially be used to try and find patterns in a time-based method.
Key Levels
Customization
Traders can choose which key levels to display and adjust the visual style of these levels, including line width, style, and color.
Application
The Key Levels feature can help traders identify support and resistance levels that can serve as potential entry or exit points. Can be useful in market structure analysis by marking significant price levels based on different timeframes.
Designed for multi-timeframe analysis, allowing traders to track OHLC levels, session ranges, and key market levels.
It’s highly customizable, making it suitable across trading styles and charting setups, whether scalping, day trading, swing trading or longer term investing.
Multi-Timeframe (MTF) OHLC
Can be plotted as a Candlestick or Bar-Chart or Both
These can help traders keep an eye on price levels across multiple timeframes while allowing the actual chart to be on another timeframe than the displayed OHLC.
Example - OHLC on the Weekly Candle/Bar - Chart 4 Hourly Candles
While being on lower timeframes, the trader can keep an eye on how the OHLC candle is developing. ICT-Traders find the Daily (Default Setting) OHLC useful in analysis.
It can be customized to any timeframe the trader wishes to use.
Inspired by ICT-Traders / Market Maker Model Traders and Top-Down Analysis Style.
Combined with Session Analysis to view into the price behavior during specific trading sessions, could potentially be very useful for finding trading setups.
OHLC Levels
Creates lines based on user input - Can potentially be important reference points for trade setups / invalidation / confirmation, levels could be used as the HTF Origin.
Conclusion
The OHLC MTF, Sessions & Key Levels Indicator is a tool that combines multiple market analysis concepts into a single unique script. It offers another view of the market's behavior by combining OHLC data from a different timeframe, main trading sessions, and key levels.
Why Invite-Only?
The OHLC, Sessions & Key Levels Indicator is offered as invite-only because you receive a quality and customizable tool that combines multiple functions into one convenient script.
This Indicator stands out by being a complete and optimized trading tool based on three desirable components.
—
Multi-Timeframe OHLC Analysis, Sessions Tracking & Key Levels
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Into One Customizable Indicator.
Disclaimer
While the Indicator offers a view of the OHLC price action on multiple timeframes, key levels & trading sessions, traders should not solely rely on it for trading decisions. As with all trading tools, it should be used as part of a complete trading strategy.
HTF Multi Candles DisplayHTF Multi Candles Display
Description
The HTF Multi Candles Display is a powerful and versatile indicator that overlays higher timeframe (HTF) candles on your current chart, providing traders with a comprehensive multi-timeframe analysis tool in a single view. This indicator is particularly valuable for traders who employ strategies that rely on higher timeframe context, such as the Power of Three strategy, Turtle Soup, Candle Range Theory (CRT), and Inner Circle Trader (ICT) concepts like Price Delivery (PD) arrays.
> **Notice**: If you find this indicator beneficial for your trading, I would greatly appreciate any contribution in the form of TradingView Coins. Thank you for your support!
Key Features
1. Displays up to 5 higher timeframe candles
2. Customizable higher timeframe selection (5m to Monthly)
3. Adjustable candle appearance (colors, wicks, width)
4. Time labels for easy reference
5. Optional vertical lines to separate HTF candles
6. Offset adjustment to position candles away from the chart edge
7. Customizable wick and border colors
8. Flexible vertical line styles (solid, dashed, dotted)
9. Adjustable time label font sizes
How it Helps Traders
### 1. Multi-timeframe Analysis
By overlaying higher timeframe candles on your current chart, this indicator allows you to easily identify key levels, trends, and potential reversal points across different timeframes without switching between multiple charts.
### 2. Power of Three Strategy
This indicator is invaluable for traders using the Inner Circle Trader (ICT) Power of Three strategy, which focuses on accumulation, manipulation, and distribution phases. The higher timeframe candles help identify these phases more accurately, allowing for better trade entries and exits:
- Accumulation: Identify periods of sideways price action on higher timeframes.
- Manipulation: Spot false breakouts or breakdowns on lower timeframes that are contained within higher timeframe ranges.
- Distribution: Recognize when price is approaching significant higher timeframe levels where smart money may begin to distribute.
### 3. Turtle Soup
Traders can use this indicator to spot potential Turtle Soup setups by identifying key breakout levels on higher timeframes and comparing them to current price action. This helps in:
- Identifying false breakouts that may lead to Turtle Soup trade opportunities.
- Confirming the validity of breakouts by comparing lower timeframe momentum to higher timeframe structure.
### 4. Candle Range Theory (CRT)
This indicator is extremely useful for traders applying Candle Range Theory. CRT focuses on the relationship between the current candle's range and the previous candle's range. By displaying higher timeframe candles, traders can:
- Easily compare candle ranges across multiple timeframes.
- Identify potential breakout or breakdown levels based on the previous HTF candle's range.
- Spot instances where the current lower timeframe price action is testing or breaking significant HTF candle ranges.
- Recognize potential reversal points where price reaches the extremes of higher timeframe candle ranges.
### 5. Support and Resistance
Higher timeframe candles often represent significant support and resistance levels. This indicator makes it easy to spot these levels and incorporate them into your trading decisions, allowing you to:
- Identify key support and resistance levels from higher timeframes.
- Anticipate potential price reactions at these levels on your current timeframe.
- Plan entries, exits, and stop-loss placement with greater precision.
### 6. Trend Identification
By displaying multiple HTF candles, traders can quickly assess the overall trend direction on higher timeframes, helping to align trades with the broader market direction:
- Easily visualize the trend on higher timeframes without changing your chart.
- Identify potential trend changes or continuations based on HTF candle patterns.
- Align your trades with the higher timeframe trend for potentially higher probability setups.
### 7. Enhanced Decision Making
The combination of current timeframe price action and higher timeframe context allows for more informed decision-making, potentially improving trade quality and risk management:
- Validate trade setups by ensuring they align with higher timeframe structure.
- Avoid low-probability trades that conflict with higher timeframe trends or key levels.
- Adjust position sizing based on the proximity to significant HTF levels.
### 8. Time Efficiency
Instead of constantly switching between timeframes, traders can view all necessary information on a single chart, streamlining their analysis process:
- Reduce the time spent switching between multiple charts.
- Quickly assess market conditions across various timeframes.
- Improve focus by having all relevant information in one view.
### 9. ICT Price Delivery (PD) Arrays
The HTF Multi Candles Display is particularly useful for traders familiar with Inner Circle Trader (ICT) concepts, especially in identifying Price Delivery (PD) arrays:
- Visualize potential PD arrays across multiple timeframes without switching charts.
- Identify key swing highs and lows that form PD array structures.
- Recognize patterns such as Breaker Blocks, Inefficient Price Points, and Fair Value Gaps more easily on higher timeframes.
- Spot potential areas where smart money might be accumulating or distributing by analyzing the relationship between HTF candles.
- Use the series of HTF candles to identify potential Order Blocks, which are often key components of PD arrays.
- Recognize Mitigation Points and Liquidity Voids more effectively by analyzing the structure of multiple HTF candles.
By displaying a series of HTF candles, this indicator allows traders to more easily identify and validate ICT concepts like PD arrays, enhancing their ability to spot high-probability trading opportunities and potential market turning points.
Conclusion
The HTF Multi Candles Display indicator is suitable for traders of all levels, from beginners looking to understand market structure across timeframes to experienced traders refining their multi-timeframe analysis techniques. Whether you're day trading, swing trading, or looking for longer-term positions, this indicator provides valuable insights to enhance your trading strategy.
By incorporating higher timeframe context into your analysis, you can make more informed trading decisions, identify high-probability setups, and potentially improve your overall trading performance. The HTF Multi Candles Display is a versatile tool that adapts to various trading strategies and helps traders gain a deeper understanding of market dynamics across multiple timeframes, including advanced concepts like ICT Price Delivery arrays.
