Market Pulse"Market Pulse" is a comprehensive technical analysis indicator designed to provide traders with insights into market dynamics by combining several analytical modules:
Turning Points & Forecasts: Identifies potential market turning points by analyzing pivot highs and lows over a specified period. It calculates forecast levels (A, B, C) based on the averages and standard deviations of these pivots, offering potential support and resistance zones.
TPO (Time Price Opportunity) Profile: Analyzes the distribution of prices over a set number of bars to determine key levels such as Point of Control (POC), Value Area High (VAH), and Value Area Low (VAL). These levels help traders understand where the majority of trading activity has occurred, indicating potential support and resistance areas.
High Volume Highlight: Detects bars with significantly higher volume compared to a moving average benchmark, highlighting potential areas of increased market activity and interest.
Open Interest Analysis: Monitors open interest data for both USD and USDT pairs, comparing current values to their moving averages. This analysis helps gauge market sentiment and potential future price movements based on the commitment of traders.
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"Market Pulse" — это комплексный индикатор технического анализа, предназначенный для предоставления трейдерам глубокого понимания динамики рынка посредством объединения нескольких аналитических модулей:
Разворотные точки и прогнозы: Определяет потенциальные разворотные точки рынка, анализируя экстремумы (максимумы и минимумы) за заданный период. Рассчитывает прогнозные уровни (A, B, C) на основе средних значений и стандартных отклонений этих экстремумов, предлагая потенциальные зоны поддержки и сопротивления.
Профиль TPO (Time Price Opportunity): Анализирует распределение цен за определённое количество баров для определения ключевых уровней, таких как Point of Control (POC), Value Area High (VAH) и Value Area Low (VAL). Эти уровни помогают трейдерам понять, где происходила основная торговая активность, указывая на потенциальные области поддержки и сопротивления.
Выделение высокого объёма: Обнаруживает бары с значительно более высоким объёмом по сравнению с движущейся средней, выделяя потенциальные области повышенной рыночной активности и интереса.
Анализ открытого интереса: Отслеживает данные об открытом интересе для пар в USD и USDT, сравнивая текущие значения с их скользящими средними. Этот анализ помогает оценить рыночные настроения и потенциальные будущие ценовые движения на основе вовлечённости трейдеров.
Candlestick analysis
VWAP + Fib + Candlestick Pattern Strategy### **VWAP + Fibonacci + Candlestick Pattern Strategy (v6)**
This indicator is designed to identify high-quality trading setups using a combination of **Anchored VWAP, Fibonacci Retracement Levels, and Candlestick Patterns**. It helps traders find optimal entry points where multiple confluences align, enhancing trade accuracy.
### **Key Features:**
✅ **Anchored VWAP** – Starts from the last pivot low (bullish) or pivot high (bearish) to determine trend strength.
✅ **Fibonacci Levels** – Uses key retracement levels (0.382, 0.5, 0.618, 0.786) for added confluence.
✅ **Candlestick Patterns** – Detects Pin Bars, Engulfing Candles, and Hammer Candles for potential reversals.
✅ **High-Quality Setups** – Highlights strong signals where price aligns with VWAP & Fib zones.
✅ **Alerts** – Get notified when a bullish or bearish setup is detected.
✅ **Risk Management** – Includes Take Profit (TP1, TP2, Final TP) & Stop Loss based on ATR.
✅ **Position Sizing** – Calculates position size based on a fixed dollar risk per trade.
### **How to Use:**
1. Apply the indicator to your chart.
2. Look for signals near Fibonacci retracement levels and VWAP.
3. Use alerts for real-time trade notifications.
4. Manage risk with built-in TP/SL and position sizing.
Perfect for traders who use **Price Action & Smart Money Concepts** to refine their entries! 🚀
TR FVG Finder 1.0TR FVG Finder 1.0 - Identify High-Probability Trading Zones
Unlock the power of Fair Value Gaps (FVGs) with this advanced TradingView indicator! Designed for traders seeking high-probability setups, the Fair Value Gap Detector identifies key price imbalances on your chart, helping you spot potential reversal and continuation zones with precision.
Key Features:
Accurate FVG Detection: Automatically detects bullish and bearish Fair Value Gaps based on a proven 3-candle pattern, highlighting areas where price is likely to return.
Customizable Display: Shows the most recent 3 FVGs by default (combined bullish and bearish), with an option to adjust the number of FVGs displayed.
Visual Clarity: Draws semi-transparent boxes (green for bullish FVGs, red for bearish FVGs) that extend 15 candles to the right, making it easy to track key levels.
Versatile for All Markets: Works on any timeframe and instrument—perfect for forex, stocks, crypto, and commodities like XAU/USD (gold).
User-Friendly: Simple to use with customizable settings, ideal for both beginner and experienced traders.
How It Works:
The indicator identifies FVGs by analyzing a 3-candle pattern:
- Bullish FVG: When the high of the candle two bars back is below the low of the current candle.
- Bearish FVG: When the low of the candle two bars back is above the high of the current candle. These gaps often act as magnets for price, making them powerful zones for trading strategies like breakouts, pullbacks, or reversals.
Why Use This Indicator?
- Enhance your technical analysis with a proven concept used by institutional traders.
- Spot high-probability trading opportunities with clear visual cues.
- Save time by automating FVG detection—no manual drawing required.
Best Practices:
- Use on lower timeframes (e.g., 15-minute or 1-hour) for more frequent FVGs, especially in volatile markets like forex or crypto.
- Combine with other indicators (e.g., support/resistance, volume) for confirmation.
- Ideal for strategies like ICT (Inner Circle Trader) concepts, Smart Money trading, and price action analysis.
Regards,
Trader Riaz
ICT SMT (fadi)The ICT SMT (fadi) Indicator is a powerful indicator inspired by the Inner Circle Trader (ICT) methodology, designed to identify Smart Money Technique (SMT) divergences between correlated assets. This indicator helps traders spot potential reversal points or trend shifts by comparing price action of a user-defined symbol (e.g., “ES1!” for E-mini S&P 500 futures) against the current chart’s price structure. Ideal for forex, indices, futures, and crypto markets, it highlights discrepancies in correlated asset behavior to enhance trading decisions.
These discrepancies occur when one asset shows signs of strength—such as holding support or rallying—while the other weakens or drops, signaling potential manipulation or a shift in smart money activity. This is relevant because it reveals where institutional traders may be accumulating or distributing positions, giving insight into impending trend changes. This indicator offers higher accuracy and detects nearly every SMT present on the chart by calculating multiple possibilities.
Features
• Smart Algorithmic detection of high probability SMTs
• Detect SMT with two other symbols
• Detect 2-Candle SMT as an additional configurable option
• Confirmation and Invalidation levels
• Expand or narrow the detection range by changing the number of pivots to use
• Raise alerts when SMT has been detected
Usage
1. Apply the indicator to your chart.
2. In the settings, input a correlated symbol (e.g., “NQ1!” for Nasdaq futures if charting “ES1!”, or “EURUSD” if analyzing “GBPUSD”).
3. Monitor the plotted markers and labels:
• Green markers for bullish divergences.
• Red markers for bearish divergences.
4. Combine with other ICT concepts (e.g., order blocks, liquidity zones) for higher-probability setups.
Best Practices
• Pair with strongly correlated assets (e.g., ES vs. NQ, EURUSD vs. GBPUSD) for reliable signals.
• Backtest on your chosen market to confirm effectiveness.
Combined Support & Resistance IndicatorsPivot Points Calculation:
The script calculates the Pivot Point as the average of the high price (high), low price (low), and closing price (close) of the current bar.
The Pivot Point is plotted on the chart as a red line.
Support and Resistance Levels:
The Support Level is calculated as the lowest price over the last lookback bars.
The Resistance Level is calculated as the highest price over the last lookback bars.
These levels are displayed on the chart using horizontal lines: green for support and red for resistance.
Momentum Indicators:
RSI (Relative Strength Index): A momentum oscillator calculated based on the closing price over the last 14 bars. It is plotted as a yellow line.
MACD (Moving Average Convergence Divergence): An indicator consisting of the MACD line (blue) and the signal line (orange). It is calculated based on the closing price.
Moving Averages:
SMA 20: A simple moving average over the last 20 bars. It is plotted as a green line.
SMA 50: A simple moving average over the last 50 bars. It is plotted as a red line.
Dynamic Levels Drawing:
Instead of using hline (which does not support dynamic values), the script uses line.new to draw dynamic support and resistance levels. These lines are updated on each bar.
BCVC - Volume & Big Candle ColorThe BCVC (Volume & Big Candle Color) indicator helps traders identify significant price movements accompanied by unusual volume activity. By dynamically coloring bars based on volume spikes and candle size, it highlights potential momentum shifts, breakouts, or reversals. This tool is ideal for traders who want to:
Spot institutional buying/selling activity.
Confirm trend strength using volume and price volatility.
Filter noise by focusing on high-impact bars.
Key Features
Volume Spike Detection:
Compares current volume to a moving average (EMA) of volume.
Highlights bars where volume exceeds the average by a user-defined multiplier.
Big Candle Detection:
Identifies bars with a range (high-low) larger than the historical average range (EMA of candle ranges).
Thresholds for "big candles" are customizable.
Color-Coded Logic:
White Bars: High volume + Big candle + Bullish (close > open).
Orange Bars: High volume + Big candle + Bearish (close < open).
Blue Bars: High volume + Regular candle + Bullish.
Maroon Bars: High volume + Regular candle + Bearish.
Input Parameters
Volume Settings:
Volume Period: EMA length for average volume calculation (default: 20).
Volume Multiplier: Threshold multiplier for volume spikes (e.g., 1.25 = 25% above average).
Candle Size Settings:
Lookback Period: EMA length for average candle range (default: 7).
Big Candle Multiplier: Threshold multiplier for large candles (e.g., 1.3 = 30% above average range).
How It Works
Volume Analysis:
The indicator calculates an EMA of volume over the specified period.
If the current bar’s volume exceeds Average Volume × Volume Multiplier, it’s flagged as a high-volume bar.
Candle Range Analysis:
The average candle range (high-low) is calculated using an EMA over the lookback period.
A "big candle" is identified when the current bar’s range exceeds Average Range × Big Candle Multiplier.
Combined Signals:
High-volume bars are colored based on whether they are bullish/bearish and whether their range exceeds the big-candle threshold.
Example: A white bar (high volume + big candle + bullish) suggests strong buying pressure with institutional participation.
Usage Scenarios
Breakout Confirmation: A white/orange bar at a support/resistance level may validate a breakout.
Reversal Signals: A maroon/orange bar after a long trend could indicate exhaustion and potential reversal.
Trend Strength: Clusters of blue/white bars during uptrends (or maroon/orange in downtrends) confirm momentum.
Benefits
Visual Clarity: Instantly spot high-impact bars without manually scanning volume or candle size.
Customizable Sensitivity: Adjust multipliers to filter noise (e.g., increase for fewer signals).
Universal Application: Works on all timeframes and instruments (stocks, forex, crypto).
Notes
Best Paired With: Trendlines, support/resistance levels, or momentum oscillators (e.g., RSI).
Avoid False Signals: Use higher multipliers (e.g., 1.5) on lower timeframes to reduce noise.
Fair Value Gap (FVG) Detector Fair Value Gap (FVG) is an imbalance in price action that occurs when there is a strong displacement (big movement) in the market, leaving a gap between wicks. This gap represents an area where price moved too quickly, and liquidity was not fully filled.
Traders use FVGs as potential areas where price might retrace and react before continuing in the original direction.
7 Inside Bars with Full Range Box (15m)his indicator detects periods of extreme price compression by identifying 7 consecutive inside bars on the 15-minute timeframe. An inside bar is a candle that forms within the high and low of the previous candle. When 7 such bars occur in a row, it's a strong signal of market indecision and potential breakout.
What it does:
Detects if the last 7 candles are all inside the range of the 8th candle (the outer bar).
Highlights the consolidation zone by drawing a fuchsia-colored box from the high to low of the outer candle.
Marks the final candle in the sequence with a small "7IN" label below the bar.
This setup can help traders spot high-probability breakout zones and prepare for potential volatility after extended consolidation.
🔍 Best Used For:
Breakout trading
Volatility expansion strategies
Trade setups following tight consolidation
Price Guide NQ### **Price Guide NQ - Indicator Description (English)**
The **Price Guide NQ** indicator is designed to plot horizontal guide lines at specific price levels based on the **daily opening price** of the Nasdaq (NQ) index. Instead of dynamically adjusting with each new candle, the levels remain fixed throughout the trading day, providing a stable reference for traders.
#### **Key Features:**
- **Daily Open-Based Levels**: The indicator captures the market's opening price each day and calculates the price guide levels from that fixed point.
- **Predefined Price Increments**: It plots **30 levels above and below** the opening price in increments of 10 points (e.g., 19810, 19820, 19830, etc.).
- **Clear Visualization**: The guide lines are drawn with a **dotted style** and a neutral **gray color** to avoid cluttering the chart while providing key reference levels.
- **Automatic Line Management**: Each time a new trading day starts, the previous day's lines are removed, and new ones are plotted based on the fresh opening price.
#### **Usage:**
This indicator is particularly useful for traders looking to identify psychological price levels or areas of potential support and resistance throughout the trading session.
Let me know if you'd like any modifications or enhancements! 🚀
Label Selected DayThis Pine Script indicator allows users to highlight a specific day of the week on the chart. Users can select a day using the dropdown menu, and the script will mark all occurrences of that day.
The indicator is lightweight and non-intrusive, making it a great addition for traders who analyze market movements relative to specific days.
fractal candle The fractal candle technical indicator to identify potential trend reversals in financial markets. It works by counting a series of price bars and looking for specific patterns that indicate when a trend is likely to reverse.
How the Indicator Works:
Counting Candles:
The indicator compares the closing price of the current candle with the closing price from 4 candles ago.
If the current close is higher, the bullish (buy) count increases.
If the current close is lower, the bearish (sell) count increases.
When a count reaches 9 or 13, it may signal a trend reversal.
Buy and Sell Setup:
A buy setup occurs when there have been 9 consecutive candles where each close is lower than the close 4 candles before. This suggests a possible bullish reversal.
A sell setup occurs when there have been 9 consecutive candles where each close is higher than the close 4 candles before. This suggests a possible bearish reversal.
Support and Resistance Levels:
The indicator tracks previous highs and lows during buy/sell setups to identify potential support and resistance levels.
These levels can help traders decide where price might reverse or consolidate.
Candle Coloring for Visual Aid:
The script changes candle colors:
Red for sell signals 📉
Green for buy signals 📈
Different shades for overshoot conditions (extended trends)
Intraday Low Engulf Line This indicator currently work on Future product as it track the intraday low for the daily session from 6pm to 5pm EST. You may have to manually adjust the code if there is a time difference, or day light saving.
This indicator will track all new intraday low through out the session. Once a new intraday low is made, the indicator will display the high of that candle as an engulf target.
If the next candle making a intraday low, this engulf target will be updated. Until there is no more intraday low is made, we will see a engulf target line which is the high of the candle that make the most recent intraday low.
If there is any candle body is below the intraday low engulf life, you can expect to place a buy stop order to trade the bullish reversal.
You may want to use 5m or 15m, or 30M timeframe to reduce the noise of this indicator.
Your stop loss will be set at the intraday low. Therefore a higher time frame 5m is better for entry, however 1m timeframe will give you the best reward.
The idea is that Indraday low engulf line can be a target for bullish reversal or a bullish retest.
Another way to use this this intraday low engulf line is to treat it as a support. If the support break, the trend can be bearish too.
You have to develop your own price action strategy how to trade this.
I will also add an intraday High engulf indicator later.
Scalping Entry/Exit Indicator by DiGetImagine having a tool that not only spots high-probability entry signals but also visually marks them on your chart with color-coded cues and automated alerts. The Scalping Entry/Exit Indicator by DiGet does exactly that—by fusing a range of classic candlestick patterns (such as Bullish Hammers, Engulfing patterns, and Morning/Evening Stars) with dynamic risk management levels, this script empowers you to make swift and informed trading decisions. Whether you're an active trader or an algorithm enthusiast, this indicator offers both precision and clarity in identifying scalp opportunities, making your chart analysis more efficient and visually engaging.
Indicator Breakdown
Input Parameters:
The indicator accepts a customizable risk-reward ratio, an ATR period for volatility measurement, and a lookback period to scan for valid candlestick patterns.
ATR & Candle Calculations:
It computes the Average True Range (ATR) to dynamically set stop-loss and take-profit levels. Additionally, it determines the body and wick sizes of each candlestick to help identify key reversal patterns.
Pattern Detection:
Multiple bullish patterns (Hammer, Engulfing, Morning Star) and bearish patterns (Shooting Star, Engulfing, Evening Star) are detected. There’s also a simplified version of the Head & Shoulders pattern, offering further validation for reversal signals.
Signal Generation & Trade Levels:
The script consolidates the pattern signals into combined “buy” and “sell” triggers. It then calculates the respective stop-loss (SL) and take-profit (TP) levels based on the current price and ATR, providing a robust risk management framework.
Visual Aids & Alerts:
To enhance usability, the indicator changes the chart’s background color to green for buy signals and red for sell signals. It also draws labels, lines (representing SL and TP), and markers directly on the chart, along with alert conditions to notify traders of actionable signals.
This indicator is an excellent addition to your TradingView toolkit—ideal for scalpers and short-term traders seeking clarity, precision, and automated signal generation on their charts.
Enjoy trading with confidence and precision!
ALMA 20, 50, 200The ALMA (Arnaud Legoux Moving Average) crossover strategy uses two ALMA lines (fast and slow) to generate buy/sell signals, aiming to reduce lag and noise compared to traditional moving averages, and is often combined with volume filters for improved accuracy.
Here's a more detailed explanation:
What it is:
The ALMA indicator is a moving average (MA) variant designed to reduce lag and improve responsiveness while maintaining a smooth curve, using a Gaussian filter.
How it works:
ALMA calculates two moving averages, one from left to right and one from right to left, and then processes the output through a customizable formula for increased smoothness or responsiveness.
Crossover Strategy:
A common ALMA strategy involves using two ALMA lines with different lengths (fast and slow). A buy signal is generated when the fast ALMA crosses above the slow ALMA, and a sell signal when the fast ALMA crosses below the slow ALMA.
Benefits:
ALMA offers advantages like reduced lag, smoothness, and filtering capabilities, making it useful for identifying trends and potential reversals.
Potential Risks:
Like any indicator, ALMA can produce false signals, so it's crucial to combine it with other indicators and analyze price action.
Parameters:
ALMA has parameters like "Length" (number of periods), "Sigma" (filter's range, affecting responsiveness), and "Offset" (for accessing data of different candles).
Other uses:
ALMA can also be used for trend identification, dynamic support and resistance, and combined with other indicators to enhance trading strategies.
Big Candles FilterHow It Works
A candle is considered "big" only if its body (distance from open to close) exceeds the barHeight value.
** NOT calculated by Range !!!
Features :
Bullish candles (close > open) are marked with a green "Buy" triangle if the body is large enough.
Bearish candles (close < open) are marked with a red "Sell" triangle if the body is large enough.
The bars are colored for big candles, and optional labels show the open and close prices.
1-3-1 Setup DetectorThis TradingView indicator is designed to identify the "1-3-1" candlestick pattern, a potential market reversal setup. The script classifies each candle based on its relationship with the previous candle’s high and low values, searching specifically for a sequence of a lower-high & higher-low candle (denoted as "1"), followed by a higher-high & lower-low candle ("3"), and ending with another lower-high & higher-low candle ("1"). When this pattern is detected on the latest bar, a signal is generated. This tool is useful for traders looking to capitalize on potential reversals signaled by the 1-3-1 setup. The indicator plots a midpoint for additional analysis and does not overlay on the main chart, ensuring clarity in visualization. Ideal for use in various markets and timeframes as part of a comprehensive trading strategy.
Dynamic Candle Range Point IndicatorThe "Dynamic Candle Range Point Indicator" (DCRPI) does two important jobs at once. For each candle on your chart, it shows you exactly how many points the price moved in two different ways:
1. At the top of each candle, you'll see how many points the price moved from open to close (the body range)
2. At the bottom, you'll see the total movement from the highest to lowest point (the full range)
The really smart part is how it colors the borders of candles based on how much the price moved. This gives you a quick visual way to spot significant price movements:
- Small movements keep the standard green/red colors
- Medium movements (25-30 points) show as yellow
- Larger movements get more unique colors (orange, purple, blue, etc.)
This makes it easy to instantly identify which candles had the most significant price movement without having to read all the numbers. You can quickly spot the most volatile candles across your chart by their distinctive border colors.
The indicator is lightweight and should run smoothly on most charts without causing performance issues.
RSI Disparity SignalRSI Disparity Signal Indicator
Overview:
This TradingView indicator detects when the RSI is significantly lower than its RSI-based moving average (RSI MA). Whenever the RSI is 20 points or more below the RSI MA, a signal (red dot) appears above the corresponding candlestick.
How It Works:
Calculates RSI using the default 14-period setting.
Calculates the RSI-based Moving Average (RSI MA) using a 14-period simple moving average (SMA).
Measures the disparity between the RSI and its MA.
Generates a signal when the RSI is 20 points or more below the RSI MA.
Plots a red circle above the candlestick whenever this condition is met.
Customization:
You can modify the RSI length and MA period to fit your trading strategy.
Change the plotshape() style to use different symbols like triangles or arrows.
Adjust the disparity threshold (currently set at 20) to make the signal more or less sensitive.
Use Case:
This indicator can help identify potentially oversold conditions where RSI is significantly below its average, signaling possible price reversals.
Daily Price LevelsTrack daily price action like a pro with instant visibility of key levels, percentages, and P&L values - all in one clean view."
Bullet points:
• Shows Daily Open, High, Low & Median levels
• Dynamic color-coding: green above open, red below
• Real-time price labels with:
Exact price levels
% distance between levels
Point values
Dollar values per contract
• Auto-repaints on timeframe changes
• 30min alerts for median crosses
Fair Value Gap Finder [Find Better Trades]Fair Value Gap Finder (FVG) – Spot Institutional Imbalances
📈 Identify Key Market Imbalances
The Fair Value Gap Finder automatically detects price inefficiencies where aggressive buying or selling has created an imbalance in liquidity. These gaps, often left by institutional traders, can serve as key areas for price to revisit before continuing its trend.
🔍 How It Works:
Highlights bullish Fair Value Gaps (FVGs) in green, signaling potential support zones.
Highlights bearish Fair Value Gaps (FVGs) in red, signaling potential resistance zones.
Uses ATR-based filtering to eliminate small, insignificant gaps, focusing only on high-probability setups.
Alerts included! Get notified when a valid Fair Value Gap is detected.
📊 How to Trade Using FVGs:
✅ For Buy Trades: Wait for price to return to a bullish FVG and confirm support before entering long.
✅ For Sell Trades: Wait for price to revisit a bearish FVG and confirm resistance before entering short.
✅ Use with candlestick patterns, trend analysis, or volume for additional confirmation.
⚙️ Customizable Settings:
Adjust the ATR Multiplier to control how large a gap must be before triggering a signal.
Enable alerts to stay informed in real time when new FVGs appear.
💡 Why Use This Indicator?
Fair Value Gaps are widely used by professional traders to spot areas of liquidity, making them valuable for scalping, swing trading, and institutional-style trading.
🚀 Add it to your TradingView chart and start trading with precision!
Quarterly Theory ICT 03 [TradingFinder] Precision Swing Points🔵 Introduction
Precision Swing Point (PSP) is a divergence pattern in the closing of candles between two correlated assets, which can indicate a potential trend reversal. This structure appears at market turning points and highlights discrepancies between the price behavior of two related assets.
PSP typically forms in key timeframes such as 5-minute, 15-minute, and 90-minute charts, and is often used in combination with Smart Money Concepts (SMT) to confirm trade entries.
PSP is categorized into Bearish PSP and Bullish PSP :
Bearish PSP : Occurs when an asset breaks its previous high, and its middle candle closes bullish, while the correlated asset closes bearish at the same level. This divergence signals weakness in the uptrend and a potential price reversal downward.
Bullish PSP : Occurs when an asset breaks its previous low, and its middle candle closes bearish, while the correlated asset closes bullish at the same level. This suggests weakness in the downtrend and a potential price increase.
🟣 Trading Strategies Using Precision Swing Point (PSP)
PSP can be integrated into various trading strategies to improve entry accuracy and filter out false signals. One common method is combining PSP with SMT (divergence between correlated assets), where traders identify divergence and enter a trade only after PSP confirms the move.
Additionally, PSP can act as a liquidity gap, meaning that price tends to react to the wick of the PSP candle, making it a favorable entry point with a tight stop-loss and high risk-to-reward ratio. Furthermore, PSP combined with Order Blocks and Fair Value Gaps in higher timeframes allows traders to identify stronger reversal zones.
In lower timeframes, such as 5-minute or 15-minute charts, PSP can serve as a confirmation for more precise entries in the direction of the higher timeframe trend. This is particularly useful in scalping and intraday trading, helping traders execute smarter entries while minimizing unnecessary stop-outs.
🔵 How to Use
PSP is a trading pattern based on divergence in candle closures between two correlated assets. This divergence signals a difference in trend strength and can be used to identify precise market turning points. PSP is divided into Bullish PSP and Bearish PSP, each applicable for long and short trades.
🟣 Bullish PSP
A Bullish PSP forms when, at a market turning point, the middle candle of one asset closes bearish while the correlated asset closes bullish. This discrepancy indicates weakness in the downtrend and a potential price reversal upward.
Traders can use this as a signal for long (buy) trades. The best approach is to wait for price to return to the wick of the PSP candle, as this area typically acts as a liquidity level.
f PSP forms within an Order Block or Fair Value Gap in a higher timeframe, its reliability increases, allowing for entries with tight stop-loss and optimal risk-to-reward ratios.
🟣 Bearish PSP
A Bearish PSP forms when, at a market turning point, the middle candle of one asset closes bullish while the correlated asset closes bearish. This indicates weakness in the uptrend and a potential price decline.
Traders use this pattern to enter short (sell) trades. The best entry occurs when price retests the wick of the PSP candle, as this level often acts as a resistance zone, pushing price lower.
If PSP aligns with a significant liquidity area or Order Block in a higher timeframe, traders can enter with greater confidence and place their stop-loss just above the PSP wick.
Overall, PSP is a highly effective tool for filtering false signals and improving trade entry precision. Combining PSP with SMT, Order Blocks, and Fair Value Gaps across multiple timeframes allows traders to execute higher-accuracy trades with lower risk.
🔵 Settings
Mode :
2 Symbol : Identifies PSP and PCP between two correlated assets.
3 Symbol : Compares three assets to detect more complex divergences and stronger confirmation signals.
Second Symbol : The second asset used in PSP and correlation calculations.
Third Symbol : Used in three-symbol mode for deeper PSP and PCP analysis.
Filter Precision X Point : Enables or disables filtering for more precise PSP and PCP detection. This filter only identifies PSP and PCP when the base asset's candle qualifies as a Pin Bar.
Trend Effect : By changing the Trend Effect status to "Off," all Pin bars, whether bullish or bearish, are displayed regardless of the current market trend. If the status remains "On," only Pin bars in the direction of the main market trend are shown.
Bullish Pin Bar Setting : Using the "Ratio Lower Shadow to Body" and "Ratio Lower Shadow to Higher Shadow" settings, you can customize your bullish Pin bar candles. Larger numbers impose stricter conditions for identifying bullish Pin bars.
Bearish Pin Bar Setting : Using the "Ratio Higher Shadow to Body" and "Ratio Higher Shadow to Lower Shadow" settings, you can customize your bearish Pin bar candles. Larger numbers impose stricter conditions for identifying bearish Pin bars.
🔵 Conclusion
Precision Swing Point (PSP) is a powerful analytical tool in Smart Money trading strategies, helping traders identify precise market turning points by detecting divergences in candle closures between correlated assets. PSP is classified into Bullish PSP and Bearish PSP, each playing a crucial role in detecting trend weaknesses and determining optimal entry points for long and short trades.
Using the PSP wick as a key liquidity level, integrating it with SMT, Order Blocks, and Fair Value Gaps, and analyzing higher timeframes are effective techniques to enhance trade entries. Ultimately, PSP serves as a complementary tool for improving entry accuracy and reducing unnecessary stop-outs, making it a valuable addition to Smart Money trading methodologies.
Jinx CovarianceThis script calculates and plots the covariance between the closing price of the current trading symbol and the closing prices of several major US stock market components over a user-defined lookback period.
Here's a breakdown:
* Indicator Initialization: The script starts by defining an indicator named "My script".
* Array Declaration: Nine empty arrays (a1 to a9) are created to store historical closing prices.
* Security Data Request: The script then requests historical closing price data for the following symbols using the same timeframe as the current chart: DJI (Dow Jones Industrial Average), SPX (S&P 500), AAPL (Apple), GOOG (Alphabet Inc. Class C), GOOGL (Alphabet Inc. Class A), AMZN (Amazon), META (Meta Platforms), and MSFT (Microsoft). These are stored in variables as2 through as9.
* Data Population Loop: A for loop runs for a number of bars specified by the "Lookback" input (defaulting to the last 100 bars). In each iteration:
* The closing price of the current symbol (close ) is added to the array a1.
* The closing prices of the requested securities (as2 to as9 ) are added to their respective arrays (a2 to a9).
* Covariance Calculation: After the loop, the script calculates the covariance between the array of the current symbol's closing prices (a1) and the array of closing prices for each of the other securities (a2 to a9). The results are stored in variables a1a2 to a1a9.
* Plotting Covariance: Finally, the script plots each of the calculated covariance values on the chart:
* For DJI, the covariance is plotted with the title "DJI". The color of the plot is aqua if the current covariance is greater than the covariance 10 bars ago, and red otherwise. This plot is displayed only in the data window.
* For SPX, the covariance is plotted with the title "SPX". The color is black if the current covariance is greater than the covariance 10 bars ago, and red otherwise. This plot is also displayed only in the data window.
* For AAPL, GOOG, GOOGL, AMZN, META, and MSFT, the covariance is plotted with their respective ticker symbols as titles. The color of each plot changes between a specific color (blue, fuchsia, lime, gray, maroon, navy respectively) and red, depending on whether the current covariance is higher than it was 10 bars prior.
In essence, this script visualizes how the current symbol's price movement correlates with the price movements of these major indices and stocks over the defined historical period. The color change on the plots indicates whether the covariance has increased compared to 10 bars ago, potentially suggesting a strengthening or weakening of the correlation. The display setting for DJI and SPX means their covariance values will only be visible in the data window panel at the bottom of the TradingView chart, not as lines directly overlaid on the price action.
© jeremyandnancy8
Major Support and Resistance Price LevelsThis indicator is to be used to automatically plot Major Support and Resistance Price Levels. This is not a TREND support/resistance identifier. This is strictly for auto-plotting historically important price levels.
I would suggest adjusting the support/resistance filter before adjusting the sensistivity levels as I've testing out the setting quite a bit, but as always, do what works best for your chart.
If there is an input that you would like to have me add, let me know and I'll see what I can do.
Things to Consider:
Currently this works best on the 4H through 3D chart for Identifying major price levels; however lower timeframes do still work. Because of the large swings that can be typical when coming from Afterhours trading into Market hours, timeframes under 2H can create some false positives. This is obviously not as much of an issue on crypto or forex.
I will be working on allowing lower or higher timeframes with this indicator in order to circumvent the need to jump back to other timeframes and reference them if they are under that 2h threshold.
Future Updates:
Plotting different timeframe's results on a lower or higher timeframe.
