AOC Support & Resistance V1he AOC V1 indicator is designed to plot up to six customizable horizontal price levels on a chart with display options and label customization. This indicator is helpful for marking support (S1, S2, S3) and resistance (R1, R2, R3) levels, often used by traders to analyze market behavior.
Key Features:
Price Level Inputs: Six price levels (R1, S1, R2, S2, R3, S3) can be manually set. These levels are typically used as support and resistance levels.
Display On/Off Toggle: Each price level has an option to be toggled on or off, allowing the user to display only the relevant levels.
Custom Line Style: Users can adjust the color, width, and style (solid, dotted, or dashed) for each line to enhance the chart’s clarity and fit the user's preferences.
Label at Start of the Day: Each price level has a label that shows the price and is placed at the start of the trading day. This helps traders easily identify and track key price levels throughout the session.
Session Control: You can choose to draw the lines either for the entire chart or just for the current day’s trading session. This flexibility allows traders to focus on real-time price movements or broader trends.
Auto-Update: The lines are automatically updated as new bars are formed, ensuring that they stay anchored to the specified price levels.
Inputs:
R1, S1, R2, S2, R3, S3: The specific price levels for the resistance and support levels.
Line Color: Users can customize the line color for each level (Red for resistance levels and Green for support levels by default).
Line Width: The width of the horizontal lines, which can be adjusted from 1 to 5 pixels.
Line Style: The line style can be set to solid, dotted, or dashed, depending on user preference.
Display On/Off: Each level can be individually displayed or hidden by toggling the display option.
This indicator is highly customizable and designed to provide traders with easy-to-interpret visual cues for key price levels in the market.
Forecasting
Judas Swing ICT 01 [TradingFinder] New York Midnight Opening M15🔵 Introduction
The Judas Swing (ICT Judas Swing) is a trading strategy developed by Michael Huddleston, also known as Inner Circle Trader (ICT). This strategy allows traders to identify fake market moves designed by smart money to deceive retail traders.
By concentrating on market structure, price action patterns, and liquidity flows, traders can align their trades with institutional movements and avoid common pitfalls. It is particularly useful in FOREX and stock markets, helping traders identify optimal entry and exit points while minimizing risks from false breakouts.
In today's volatile markets, understanding how smart money manipulates price action across sessions such as Asia, London, and New York is essential for success. The ICT Judas Swing strategy helps traders avoid common pitfalls by focusing on key movements during the opening time and range of each session, identifying breakouts and false breakouts.
By utilizing various time frames and improving risk management, this strategy enables traders to make more informed decisions and take advantage of significant market movements.
In the Judas Swing strategy, for a bullish setup, the price first touches the high of the 15-minute range of New York midnight and then the low. After that, the price returns upward, breaks the high, and if there’s a candlestick confirmation during the pullback, a buy signal is generated.
bearish setup, the price first touches the low of the range, then the high. With the price returning downward and breaking the low, if there’s a candlestick confirmation during the pullback to the low, a sell signal is generated.
🔵 How to Use
To effectively implement the Judas Swing strategy (ICT Judas Swing) in trading, traders must first identify the price range of the 15-minute window following New York midnight. This range, consisting of highs and lows, sets the stage for the upcoming movements in the London and New York sessions.
🟣 Bullish Setup
For a bullish setup, the price first moves to touch the high of the range, then the low, before returning upward to break the high. Following this, a pullback occurs, and if a valid candlestick confirmation (such as a reversal pattern) is observed, a buy signal is generated. This confirmation could indicate the presence of smart money supporting the bullish movement.
🟣 Bearish Setup
For a bearish setup, the process is the reverse. The price first touches the low of the range, then the high. Afterward, the price moves downward again and breaks the low. A pullback follows to the broken low, and if a bearish candlestick confirmation is seen, a sell signal is generated. This confirmation signals the continuation of the downward price movement.
Using the Judas Swing strategy enables traders to avoid fake breakouts and focus on strong market confirmations. The strategy is versatile, applying to FOREX, stocks, and other financial instruments, offering optimal trading opportunities through market structure analysis and time frame synchronization.
To execute this strategy successfully, traders must combine it with effective risk management techniques such as setting appropriate stop losses and employing optimal risk-to-reward ratios. While the Judas Swing is a powerful tool for predicting price movements, traders should remember that no strategy is entirely risk-free. Proper capital management remains a critical element of long-term success.
By mastering the ICT Judas Swing strategy, traders can better identify entry and exit points and avoid common traps from fake market movements, ultimately improving their trading performance.
🔵 Setting
Opening Range : High and Low identification time range.
Extend : The time span of the dashed line.
Permit : Signal emission time range.
🔵 Conclusion
The Judas Swing strategy (ICT Judas Swing) is a powerful tool in technical analysis that helps traders identify fake moves and align their trades with institutional actions, reducing risk and enhancing their ability to capitalize on market opportunities.
By leveraging key levels such as range highs and lows, fake breakouts, and candlestick confirmations, traders can enter trades with more precision. This strategy is applicable in forex, stocks, and other financial markets and, with proper risk management, can lead to consistent trading success.
Risk Reward CalculatorPlanning your trading is an important step that you must do before buying the stock.
Risk and Reward Calculator is an important tool for the trader.
With this calculator, you only need to put the capital for one trade and it will automaticaly put the plan for you. But if you want to enter your plan for buy and sell, you just need to check the button and enter the number. the risk and reward calculator will suggest position size based on the information.
The Steps to use Risk Reward Calculator
1. enter how many percentage you can accept if your analysis is wrong.
2. enter how much money you want to trade
3. it will automaticaly calculate the plan for you
4. you can change the reward
5. but if you want to enter your own number, you can check the box. After that enter the number you want for your new plan.
MicroStrategy vs Bitcoin Power Law Model
This indicator provides a powerful tool for investors by modeling the relationship between MicroStrategy (MSTR) and Bitcoin (BTC) based on an observed power law correlation since August 2020, when MSTR adopted Bitcoin as its core investment strategy. The primary objective of the indicator is to identify areas where MSTR is overvalued or undervalued relative to BTC, offering investors crucial insights for making informed decisions.
Step-by-Step Creation Process:
Data Collection:
The indicator begins by gathering historical price data for both MSTR and BTC starting from August 2020. This period is significant as it marks MSTR’s strategic shift toward Bitcoin acquisition.
Power Law Analysis:
A power law relationship between MSTR and BTC is computed using a power of 1.3. This relationship models the price behavior of MSTR relative to BTC, providing a framework to track where MSTR’s price deviates from its expected value based on BTC's movements.
MSTR Price Model:
The MSTR price model based on this power law is then plotted against the actual price of MSTR. This allows investors to visualize areas where MSTR is potentially overvalued or undervalued relative to BTC.
Overvaluation is highlighted when the actual MSTR price exceeds the power law-based price, while undervaluation is noted when it falls below.
Time-Based Power Law Model:
Additionally, the indicator integrates a time-based model for MSTR, which shows that MSTR follows its own power law over time with a higher slope than BTC (7.2 vs. 5.8). This comparison provides further context, showing how MSTR's growth rate differs from BTC’s over time.
Oscillator Inclusion:
To complement the price models, an oscillator is added, which tracks the difference between the MSTR power law and the BTC power law. This oscillator helps visualize and quantify the divergence between the two, offering a clearer picture of periods where MSTR is performing above or below expectations compared to BTC.
Indicator Usefulness:
Overvaluation and Undervaluation Detection: By comparing MSTR’s current price against its expected power law-based price, investors can easily identify potential entry and exit points. When MSTR is overvalued relative to BTC, it may signal an opportunity to sell or reduce exposure. Conversely, undervaluation may suggest a buying opportunity.
Time-Based Growth Comparisons: The time-based power law model shows how MSTR has been growing relative to Bitcoin over time. This helps investors understand whether MSTR is outperforming or underperforming BTC in the long run.
Divergence Oscillator: The oscillator provides an intuitive way to gauge whether MSTR is significantly diverging from BTC’s growth trajectory, offering an additional signal to guide investment decisions.
Projections to the future
Projections of the MSTR power law to 500 days ahead is also included.
Why is this Indicator Useful for Investors?
This indicator offers a comprehensive view of how MSTR’s price behavior correlates with Bitcoin. By leveraging the power law relationship, it provides insight into whether MSTR is priced appropriately relative to BTC, which is especially valuable for those with exposure to both assets. The oscillator further refines this analysis by highlighting periods of divergence, offering potential trading opportunities based on relative value.
FXN1 The ForecasterIndicator Name: FXN1 The Forecaster
The FXN1 The Forecaster is a versatile and powerful seasonality-based indicator designed to analyze historical price patterns over different customizable timeframes. By identifying repeating price behaviors, the indicator helps traders anticipate future market movements based on the cyclical nature of asset prices. This indicator is particularly useful for those looking to predict seasonal trends and plot future price projections based on historical data.
Key Features:
Customizable Lookback Periods:
The indicator allows users to choose between 5, 10, or 15-year historical lookback periods to assess long-term price trends.
The default setting is a 10-year lookback period, but users can toggle between the options to see different historical behaviors.
By analyzing these different timeframes, traders can compare how price patterns have evolved over the past 5, 10, or 15 years, providing multiple perspectives on potential seasonal trends.
Seasonality-Based Forecasting:
The indicator generates a seasonality chart by calculating the average price movements for each trading day, week, or month within the selected lookback period.
These averages are plotted as lines that extend into the future (using a default forecast of 150 bars), offering a visualization of potential future price behavior based on historical trends.
This provides traders with a visual forecast that helps in anticipating potential future highs and lows, key reversal points, or trend continuations.
Automatic Line Drawing for Highs and Lows:
The indicator automatically detects and marks the highest and lowest points of the selected lookback period by drawing two lines:
A red line from the highest point in the past, indicating the historical peak of price behavior within the lookback period.
A green line from the lowest point in the past, indicating the historical trough or lowest price level.
These lines offer clear visual reference points for significant historical support and resistance levels.
Visual Customization:
The indicator provides the ability to change the color of the seasonal line for easy visual distinction. The default color is light gray, but this can be modified to suit individual preferences.
The line width is set to 2 by default, and this setting is hidden from the menu to keep the interface clean and focused on essential options.
The historical seasonality lines are drawn with customizable width and colors, providing a clean and informative visual on the chart without overwhelming the trader.
How It Works:
Step 1: Select the desired historical lookback period (5, 10, or 15 years). This will define the number of years of historical data to use in calculating seasonal price movements.
Step 2: The indicator collects and averages the price movements from each day, week, or month within the selected lookback period.
Step 3: The indicator draws the seasonality line by connecting the averaged price movements over time.
Step 4: Based on the historical data, the indicator extends a forecast line 150 bars into the future, offering traders a visual guide on what the future price action may look like.
Seasonal Trend Prediction:
The indicator is ideal for traders looking to identify seasonal trends in an asset’s price action. For example, commodities like oil, agricultural products, or indices often exhibit strong seasonal tendencies, which this tool can help pinpoint.
Forecasting Future Price Action:
By extrapolating past data into the future, traders can forecast potential future price highs and lows and identify opportunities to enter or exit positions.
Comparing Multiple Timeframes:
The ability to switch between 5, 10, and 15-year lookback periods allows traders to compare different timeframes and see how price trends have evolved over time. This helps in developing more comprehensive trade strategies by factoring in longer-term historical data.
Customization Options:
Lookback Period Selection: Choose between 5, 10 (default), and 15 years for historical data analysis.
Color Customization : Modify the color of the forecasted seasonal lines for better visual clarity.
Conclusion:
The FXN1 The Forecaster is a unique and customizable seasonality indicator designed for traders who want to incorporate long-term historical price patterns into their trading strategies. It provides clear insights into seasonal trends, key historical price levels, and potential future price movements. Whether you're a swing trader looking for cyclical patterns or a long-term investor seeking to understand broader price behavior, this tool offers a robust solution for analyzing market seasonality.
[ AlgoChart ] - Pearson Index CorrelationCorrelation Indicator (Pearson Index)
The correlation indicator measures the strength and direction of the relationship between two financial assets using the Pearson Index.
Correlation values range from +100 to -100, where:
+100 indicates perfect positive correlation, meaning the two assets tend to move in the same direction.
-100 indicates perfect negative correlation, where the two assets move in opposite directions.
The neutral zone ranges from +25% to -25%, suggesting that the asset movements are independent, with no clear correlation between them.
Interpreting Correlation Levels:
Correlation above +75%: The two assets tend to move similarly and in the same direction. This may indicate a risk of overexposure if both assets are traded in the same direction, as their movements will be very similar, increasing the likelihood of double losses or gains.
Correlation below -75%: The two assets tend to move similarly but in opposite directions. This correlation level can be useful for strategies that benefit from opposing movements between assets, such as trading pairs with inverse dynamics.
Practical Use of the Indicator:
Risk management: Use the indicator to monitor asset correlations before opening positions. High correlation may indicate you are duplicating exposure, as two highly correlated assets tend to move similarly. This helps avoid excessive risk and improves portfolio diversification.
Statistical Arbitrage: During moments of temporary decorrelation between two assets, the indicator can be used for statistical arbitrage strategies. In such cases, you can take advantage of the divergence by opening positions and closing them when the correlation returns to higher or positive levels, thus potentially profiting from the reconvergence of movements.
While the correlation indicator provides valuable insights into asset relationships, it is most effective when used in conjunction with other concepts and tools. On its own, it may offer limited relevance in trading decisions.
Gold IBH/IBL with IBM, Overnight Levels, OVM, and ONVPOCThe Initial Balance (IB) indicator for gold trading is a valuable tool for identifying key price levels and potential trade setups. Here's an overview of how it works:
Initial Balance Calculation
The Initial Balance for gold is calculated from 8:20 AM to 9:20 AM EST, coinciding with the COMEX open. This one-hour period establishes crucial reference points for the trading day.
Key Levels
The indicator displays several important price levels:
IB High: The highest price reached during the Initial Balance period
IB Low: The lowest price reached during the Initial Balance period
IB Midpoint: The average of the IB High and IB Low
These levels often serve as significant support and resistance areas, with many traders placing stop-losses around them.
Overnight Levels
In addition to the IB levels, the indicator shows overnight price action:
ONH: Overnight High
ONL: Overnight Low
ONM: Overnight Midpoint
Overnight VWAP: Volume Weighted Average Price from the overnight session
These overnight levels have a high probability of being tested during the COMEX trading session, making them valuable reference points for traders.
Trading Applications
Traders can use the IB and overnight levels for various purposes:
Setting profit targets
Identifying potential trade entry points
Managing risk by placing stop-losses at key levels
Gauging overall market sentiment and volatility
The levels established during both the Initial Balance and overnight sessions are likely to be touched during the COMEX trading session. This insight allows traders to make more informed decisions and enhances their trading strategies.
If you have more questions about the trading strategy, please DM me, and I can explain further. I also have probabilities of all these levels being broken during the COMEX trading hours, which gives us confidence to hold our trades to targets.
Understanding and utilizing these levels can provide traders with a competitive edge in gold trading, helping them make more informed decisions based on early market dynamics and overnight price action.
Consecutive Candle Detector Consecutive Candle Detector , can be used to highlight impulsive moves . 3 or more candles with the same colour in the same direction .
Set an alert notification to let you know price has moved in an impulsive way and is forming a pattern to sell or buy
Daily Seasonality [YuL]This indicator calculates average returns for trading days across specified number of years in the past and displays this as a histogram. In addition, it displays EMA of these values as filled area plot.
Indicator uses ordinal number of trading day in a year, i.e. January 3rd may be 1st trading day, January 4th - 2nd trading day, etc.
Large green or red areas may mean that there is a strong seasonal factor at these dates that may support, launch, or break a trend.
It only works on daily timeframe at the moment. Maximum number of years it can look back is 15.
Probability GoldThis is a leading indicator designed for the 1 minute chart, and while it works on any time frame, I haven't tested it's practicality outside of the 1 minute chart. This uses historical data and applies statistical analysis to key metrics of momentum. The data is filtered by "time of day" as well as "day of week", but be mindful that the "day of week" option reduces your total amount of data points, and will not work well on new stocks. This indicator also uses binary/gaussian distribution concepts to create channels and pockets which act as seemingly magnetic forces. This is all speculative. Do not use this indicator on its own. This is intended to do nothing more than to show you whether if, on average, the historical data under the same time and rate of change conditions, goes for or against your trade. Use it in conjunction with your most trusted and classic indicators. This can act as a small nudge, letting you now the chances of what you have already established in your mind. This is HIGHLY experimental, made by an amateur, and also very pretty. So, enjoy!
[Becak] - Swing Point Retracement & Prediction" - Swing Point Retracement & Prediction," is designed to identify swing points in price action, calculate retracement levels, and predict potential future price levels. It's a technical analysis tool that can help traders identify potential support and resistance levels, as well as possible reversal points.
HOW IT WORK
Swing Point Detection:
The indicator uses the ta.pivothigh() and ta.pivotlow() functions to identify swing highs and lows within a specified lookback period.
Retracement Levels:
When a new swing point is detected, the indicator calculates a retracement level based on the user-defined retracement percentage. It draws a dashed blue line at the retracement level, along with a yellow circle and a label showing the price.
Swing Point Labeling:
Swing highs are marked with a green "H" label and the price, and Swing lows are marked with a red "L" label and the price.
Price Prediction:
Based on the most recent swing point, the indicator attempts to predict the next potential high or low. It draws a purple dashed line extending into the future, indicating the predicted price level.
HOW TO USE THIS INDICATOR:
adjust the input parameters:
"Swing Point Lookback": Determines how far back the indicator looks to identify swing points. A larger value will result in fewer, more significant swing points.
"Retracement %": Sets the percentage for calculating retracement levels. 50% is a common Fibonacci retracement level, but you can adjust this based on your trading strategy.
"Prediction Length": Determines how far into the future the prediction line extends.
Interpret the results:
Use the swing point labels (H and L) to quickly identify recent highs and lows. The blue dashed lines and yellow circles indicate potential support or resistance levels based on the retracement percentage. The purple dashed line shows a potential future price target. This can be used to set profit targets or identify potential reversal zones.
Combine with other analysis:
This indicator works best when combined with other forms of analysis, such as trend lines, moving averages, or candlestick patterns.
Use the retracement levels and predictions as potential entry or exit points, but always confirm with other indicators or price action signals.
Statistical Volatility° [Pro+] (Joshuuu)Introduction:
Statistical Volatility is a custom-built indicator designed to help traders track the historical range volatility of each individual candle of a given Timeframe. Compared to traditional volatility metrics, or lookback-based volatility calculations, this indicator is focused on the idea of Time-based volatility.
Description:
Whether you are looking at intraday price movements or weekly trends, this tool provides a clear, visual representation of the average range each candle typically covers. By understanding these volatility patterns, traders can observe when markets are likely to expand or consolidate, based on Time.
To obtain this insightful metrics, all available candle range data is normalized; values are therefore represented as a percentage of the maximum historical Time volatility, indicating how each candle range compares relative to the highest value. This allows for an easy comparison of volatility across different Time periods.
Key Features:
Detailed Volatility Tracking: The Statistical Volatility indicator enables traders to track the volatility of each candle throughout the day, week, or month, depending on the selected Timeframe. It helps to identify statistical Times of expansion or consolidation, beyond what current price data may showcase.
Timeframe Adaptability: On lower timeframes such as the 5 Minute Timeframe, the indicator calculates and plots the statistical range for each 5 Minute candle of the day, respectively. On higher timeframes, such as 1 Hour Timeframe or above, the ranges are plotted for each candle of the week, respectively. This adaptability ensures the indicator is versatile enough for day traders, scalpers, and swing traders alike; maintaining a highly granular yet versatile statistical edge.
Flexible Display Options: Traders can choose between different visualization methods, in form of a Heatmap or a Barchart, to display the volatility calculations. The heatmap offers a simple visualization of the data, relying entirely on the color gradient to display volatility. On the other hand, the Barchart gives more flexibility to the analyst by providing a more detailed visual analysis, with the ability of overlaying and comparing the current Time-based volatility.
How Traders Can Use Statistical Volatility (Joshuuu) Effectively:
Data-Based Optimization: By understanding when the market typically experiences its largest or smallest moves, traders can better frame the current narrative. Especially when backtesting, this information can help optimize analysts' entry mechanisms thanks to the introduction of a Time-based statistical component.
Asset-Specific Insights: Currencies like Forex pairs (i.e. FOREXCOM:EURUSD , FOREXCOM:AUDUSD ) or other Asset Classes tied to a particular geographical location (i.e. CME_MINI:NQ1! in the United States, XETR:DAX in Germany), experience volatility spikes during the operational hours of major banks. Each asset has its own “active” Time when liquidity and volatility are higher, tied to when their corresponding markets are open. This makes Statistical Volatility particularly useful for traders who focus on multiple assets across different time zones.
Usage Guidance:
Add Statistical Volatility (Joshuuu) to your TradingView chart.
Customize your preferred volatility calculation type, gradient colors, and plot styles.
Use the volatility graphic to monitor current and upcoming shifts in volatility.
Incorporate Statistical Volatility (Joshuuu) into your existing statistical strategies to fine-tune your interpretation of market behaviour.
These tools are available ONLY on the TradingView platform.
Terms and Conditions
Our charting tools are products provided for informational and educational purposes only and do not constitute financial, investment, or trading advice. Our charting tools are not designed to predict market movements or provide specific recommendations. Users should be aware that past performance is not indicative of future results and should not be relied upon for making financial decisions. By using our charting tools, the purchaser agrees that the seller and the creator are not responsible for any decisions made based on the information provided by these charting tools. The purchaser assumes full responsibility and liability for any actions taken and the consequences thereof, including any loss of money or investments that may occur as a result of using these products. Hence, by purchasing these charting tools, the customer accepts and acknowledges that the seller and the creator are not liable nor responsible for any unwanted outcome that arises from the development, the sale, or the use of these products. Finally, the purchaser indemnifies the seller from any and all liability. If the purchaser was invited through the Friends and Family Program, they acknowledge that the provided discount code only applies to the first initial purchase of the Toodegrees Premium Suite subscription. The purchaser is therefore responsible for cancelling – or requesting to cancel – their subscription in the event that they do not wish to continue using the product at full retail price. If the purchaser no longer wishes to use the products, they must unsubscribe from the membership service, if applicable. We hold no reimbursement, refund, or chargeback policy. Once these Terms and Conditions are accepted by the Customer, before purchase, no reimbursements, refunds or chargebacks will be provided under any circumstances.
By continuing to use these charting tools, the user acknowledges and agrees to the Terms and Conditions outlined in this legal disclaimer.
2024 - Seasonality - Open to CloseScript Description:
This Pine Script is designed to visualise **seasonality** in the financial markets by calculating the **open-to-close percentage change** for each month of a selected asset. It creates a **heatmap** table to display the monthly performance over multiple years. The script provides detailed statistical summaries, including:
- **Average monthly percentage changes**
- **Standard deviation** of the changes
- **Percentage of months with positive returns**
The script also allows users to adjust colour intensities for positive and negative values, specify which year to start from, and skip specific months. Key metrics such as averages, standard deviations, and percentages of positive months can be toggled on or off based on user preferences. The result is a clear, visual representation of how an asset typically performs month by month, aiding in seasonality analysis.
US Recessions based on James Hamilton's JHDUSRGDPBRThis simple script uses James Hamilton's JHDUSRGDPBR indicator to colour areas representing recession periods in the US. Best used in conjunction with other macroeconomics indicators, like –as in the example– unemployment rates
Forex - Lot size calculatorThis indicator is specifically designed for Forex traders who need a convenient lot size calculator directly on their charts. It allows users to input their account balance, risk percentage, and stop-loss distance in pips to easily determine the appropriate lot size for a given trade, ensuring effective risk management.
Key Features:
Lot Size Calculation: Automatically calculates the lot size based on user-defined inputs: account balance, risk percentage, and stop-loss distance.
Error Handling: The indicator only works with Forex pairs. If applied to non-Forex assets, a clear and prominent red error message will appear in the bottom-right corner of the chart, reminding the user that this script is intended exclusively for Forex trading.
Simple Visualization: The calculated lot size is displayed in an easy-to-read table directly on the chart.
How to Use:
Add the indicator to a Forex chart.
Enter your account balance, risk percentage, and stop-loss pips in the input fields.
The indicator will display the calculated lot size for the chosen Forex pair.
Important Notes:
This script is intended only for Forex assets. If used on other instruments (e.g., stocks, crypto, indices), an error message will be shown.
Always validate lot sizes with your broker, as there can be slight variations depending on broker specifications and leverage settings.
Magic Touch Line DetectorSummary of the Magic Touch Line Detector Script:
Purpose:
The Magic Touch Line Detector script is designed to identify significant price points in the market by analyzing candlestick wicks and bodies. It plots lines based on the detected wicks, classifying them as either ascending or descending. The script tracks how frequently price touches these lines and highlights the "most touched" lines for both ascending and descending categories. This script is particularly useful for traders looking to identify key price levels and trends over time.
How It Works:
Wick and Body Detection:
The script starts by analyzing the highs and lows of candlestick wicks relative to their bodies over a user-defined lookback period. A significant wick is identified based on a specified wick-to-body ratio and a deviation threshold measured against the Average True Range (ATR).
Line Creation:
Once a significant upper or lower wick is detected, the script calculates unconventional highs and lows (i.e., points that differ from the absolute highs and lows of the lookback period). Lines are then drawn from these unconventional price points using the slope between the detected wick and the current bar, ensuring a smooth extension.
Line Refinement and Touch Tracking:
As new bars are added, the script tracks how often the price touches the previously drawn lines. The number of touches each line receives is counted and updated in real-time, and the script ensures that only the most touched line is highlighted.
Highlighting and Labeling:
For each category (ascending and descending), the most touched line is identified and given special highlighting with thicker lines and different colors. Labels are also generated to show the number of touches that the most touched line has received. Old labels are cleared to avoid clutter.
Explanation of the Settings:
Lookback Period for Highs and Lows:
This sets the number of bars the script will use to detect the highest highs and lowest lows. A larger lookback period gives the script a broader context to work with, potentially identifying more significant price points.
Minimum Wick-to-Body Ratio:
This ratio determines what qualifies as a "significant" wick. It compares the length of the wick to the body of the candle. A higher ratio means that only wicks that are much longer than the candle body will be considered significant.
Price Deviation Threshold (in ATR multiples):
This setting controls how much price deviation from the ATR is required for a wick to be deemed significant. It acts as a filter to reduce noise by ignoring smaller wicks that are within normal price movements.
Line Touch Tolerance Factor (ATR multiple):
When checking if a price touches a line, the script uses this setting to define how close the price must be to the line to count as a "touch." This tolerance is a multiplier of the ATR, allowing for some flexibility in what is considered a touch.
Price Difference Threshold:
This defines the minimum price difference required to plot a line. If the price difference between the high and low of a detected wick is too small, the script can avoid plotting a line for insignificant moves.
Slope Adjustment Multiplier:
This multiplier adjusts the slope of the lines that are drawn from detected price points. It affects the length and angle of the lines, allowing users to control how far and at what angle the lines should extend across the chart.
Customization Options:
Show Ascending/Descending Lines:
These toggles allow users to decide whether ascending (bullish) or descending (bearish) lines should be shown on the chart.
Line Color, Style, and Width (for Ascending and Descending Lines):
These settings give users control over how the lines appear visually. You can customize the color, style (solid, dashed, dotted), and width of both ascending and descending lines.
Most Touched Line Color:
Users can define a different color for the "most touched" line, which is automatically identified by the script. This setting helps highlight the line that has been interacted with the most by the price.
How to Use the Script:
Setup the Lookback Period and Deviation Filters:
Start by setting the lookback period and the filters for wick-to-body ratio and deviation threshold. These settings help control the script's sensitivity to market movements.
Refine the Tolerance and Slope:
Adjust the line touch tolerance and slope adjustment multiplier to control how closely the script tracks price touches and how the lines are extended on the chart.
Customize Visuals:
Once the lines are being drawn, customize the colors, styles, and widths to ensure the lines are easy to read on your chart. You can also decide if you want to display both ascending and descending lines or focus on just one.
By setting up the script based on these inputs and parameters, you can get a real-time view of significant price levels and how often the price interacts with them, helping you make more informed trading decisions.
Bitcoin Cycle Master [InvestorUnknown]The "Bitcoin Cycle Master" indicator is designed for in-depth, long-term analysis of Bitcoin's price cycles, using several key metrics to track market behavior and forecast potential price tops and bottoms. The indicator integrates multiple moving averages and on-chain metrics, offering a comprehensive view of Bitcoin’s historical and projected performance. Each of its components plays a crucial role in identifying critical cycle points:
Top Cap: This is a multiple of the Average Cap, which is calculated as the cumulative sum of Bitcoin’s price (price has a longer history than Market Cap) divided by its age in days. Top Cap serves as an upper boundary for speculative price peaks, multiplied by a factor of 35.
Time_dif() =>
date = ta.valuewhen(bar_index == 0, time, 0)
sec_r = math.floor(date / 1000)
min_r = math.floor(sec_r / 60)
h_r = math.floor(min_r / 60)
d_r = math.floor(h_r / 24)
// Launch of BTC
start = timestamp(2009, 1, 3, 00, 00)
sec_rb = math.floor(start / 1000)
min_rb = math.floor(sec_rb / 60)
h_rb = math.floor(min_rb / 60)
d_rb = math.floor(h_rb / 24)
difference = d_r - d_rb
AverageCap() =>
ta.cum(btc_price) / (Time_dif() + btc_age)
TopCap() =>
// To calculate Top Cap, it is first necessary to calculate Average Cap, which is the cumulative sum of Market Cap divided by the age of the market in days.
// This creates a constant time-based moving average of market cap.
// Once Average cap is calculated, those values are multiplied by 35. The result is Top Cap.
// For AverageCap the BTC price was used instead of the MC because it has more history
// (the result should have minimal if any deviation since MC would have to be divided by Supply)
AverageCap() * 35
Delta Top: Defined as the difference between the Realized Cap and the Average Cap, this metric is further multiplied by a factor of 7. Delta Top provides a historically reliable signal for Bitcoin market cycle tops.
DeltaTop() =>
// Delta Cap = Realized Cap - Average Cap
// Average Cap is explained in the Top Cap section above.
// Once Delta Cap is calculated, its values over time are then multiplied by 7. The result is Delta Top.
(RealizedPrice() - AverageCap()) * 7
Terminal Price: Derived from Coin Days Destroyed, Terminal Price normalizes Bitcoin’s historical price behavior by its finite supply (21 million bitcoins), offering an adjusted price forecast as all bitcoins approach being mined. The original formula for Terminal Price didn’t produce expected results, hence the calculation was adjusted slightly.
CVDD() =>
// CVDD stands for Cumulative Value Coin Days Destroyed.
// Coin Days Destroyed is a term used for bitcoin to identify a value of sorts to UTXO’s (unspent transaction outputs). They can be thought of as coins moving between wallets.
(MCR - TV) / 21000000
TerminalPrice() =>
// Theory:
// Before Terminal price is calculated, it is first necessary to calculate Transferred Price.
// Transferred price takes the sum of > Coin Days Destroyed and divides it by the existing supply of bitcoin and the time it has been in circulation.
// The value of Transferred Price is then multiplied by 21. Remember that there can only ever be 21 million bitcoin mined.
// This creates a 'terminal' value as the supply is all mined, a kind of reverse supply adjustment.
// Instead of heavily weighting later behavior, it normalizes historical behavior to today. By normalizing by 21, a terminal value is created
// Unfortunately the theoretical calculation didn't produce results it should, in pinescript.
// Therefore the calculation was slightly adjusted/improvised
TransferredPrice = CVDD() / (Supply * math.log(btc_age))
tp = TransferredPrice * 210000000 * 3
Realized Price: Calculated as the Market Cap Realized divided by the current supply of Bitcoin, this metric shows the average value of Bitcoin based on the price at which coins last moved, giving a market consensus price for long-term holders.
CVDD (Cumulative Value Coin Days Destroyed): This on-chain metric analyzes Bitcoin’s UTXOs (unspent transaction outputs) and the velocity of coins moving between wallets. It highlights key market dynamics during prolonged accumulation or distribution phases.
Balanced Price: The Balanced Price is the difference between the Realized Price and the Terminal Price, adjusted by Bitcoin's supply constraints. This metric provides a useful signal for identifying oversold market conditions during bear markets.
BalancedPrice() =>
// It is calculated by subtracting Transferred Price from Realized Price
RealizedPrice() - (TerminalPrice() / (21 * 3))
Each component can be toggled individually, allowing users to focus on specific aspects of Bitcoin’s price cycle and derive meaningful insights from its long-term behavior. The combination of these models provides a well-rounded view of both speculative peaks and long-term value trends.
Important consideration:
Top Cap did historically provide reliable signals for cycle peaks, however it may not be a relevant indication of peaks in the future.
DMR Dynamic Market Range By ANTExplanation of the DMR Dynamic Market Range Script
a. What is This Script and How Is It Useful?
This Pine Script, named "DMR Dynamic Market Range by ANT," is designed for use on TradingView, focusing on dynamically assessing market conditions. It calculates key levels, specifically the high and low of the previous two days, to establish trading zones that assist traders in making informed decisions.
The script highlights:
Previous Day's High and Low : It captures the high and low prices from the previous two days to help set up trading ranges.
Trade Zones : It identifies whether the current price is in a 'tradeable' zone or 'non-tradeable' zone. The zones are determined based on the relationship between the current price, today's open price, and the calculated high and low levels.
Targets and Stop Losses : The script dynamically provides target and stop-loss levels based on user-defined input points, which can help manage risk effectively.
This script is beneficial for traders looking to enter (or avoid) trades based on defined price action criteria and can effectively streamline the analysis process in fast-moving markets.
Customize Input Parameters: (settings)
Adjust the target and stop-loss points based on your risk tolerance and trading style. The default values (30, 70, 100 for targets and 10 for stop-loss) may not suit every trader.
Experiment with different values to find what works best for your trading strategy.
b. How to Effectively Use This Script
The DMR script can be utilized across various trading instruments, including:
Indexes : Suitable for gauging market sentiment and overall trends; can assist in short-term trading strategies.
Options: Helps determine the likely movement of the underlying assets, providing insight into probable volatility and directional bias.
ETFs (Exchange-Traded Funds): Useful for trading diversified portfolios; traders can define entry and exit points relevant to the basket of stocks.
Stocks: Ideal for individual stock trading, as traders can analyze stock movements concerning broader market trends.
When utilizing this script, traders should:
Identify key trading levels before entering trades based on the calculated high and low ranges.
Use the dynamic targets and stop-loss levels to protect capital and maximize potential gains.
Continuously monitor the script's signals and adapt to ongoing market changes.
c. Best Time Frames for Different Instruments
The optimal time frames for using the DMR script can vary based on the trading instrument.
Here’s a summary in tabular format for clearer guidance:
Instrument Best Time Frames
Index 5-minute, 15-minute, 1-hour
Options 1-minute, 5-minute, 15-minute
ETF 5-minute, 15-minute, 1-hour
Stocks 5-minute, 15-minute, 1-hour, Daily
Indexes: Shorter time frames (5 to 15 minutes) can capture quick market movements, while 1-hour frames can provide a broader market overview.
Options Trading: Given the time sensitivity of options, using very short time frames (1-5 minutes) can be effective to seize rapid price movements before expiry.
ETFs: Similar to indices, shorter frames help in effectively tracking movements of the underlying assets.
Stocks: A mix of short (5-15 minutes) for day trading and daily charts for swing trading can provide balanced insights.
Conclusion
Utilizing the DMR Dynamic Market Range script can greatly enhance a trader's ability to analyze market conditions, identify opportunities, and manage risk effectively. By adapting the script through the different listed recommendations, traders can maximize their trading strategy’s effectiveness across various instruments.
Indicator Test with Conditions TableOverview: The "Indicator Test with Conditions Table" is a customizable trading strategy developed using Pine Script™ for the TradingView platform. It allows users to define complex entry conditions for both long and short positions based on various technical indicators and price levels.
Key Features:
Customizable Input Conditions:
Users can configure up to three input conditions for both long and short entries, each with its own logical operator (AND/OR) for combining conditions.
Input conditions can be based on:
Price Sources: Users can select any price data (e.g., close, open, high, low) for each condition.
Comparison Operators: Users can choose from a variety of operators, including:
Greater than (>)
Greater than or equal to (>=)
Less than (<)
Less than or equal to (<=)
Equal to (=)
Not equal to (!=)
Crossover (crossover)
Crossunder (crossunder)
Logical Operators:
The strategy provides options for combining conditions using logical operators (AND/OR) for greater flexibility in defining entry criteria.
Dynamic Condition Evaluation:
The strategy evaluates the defined conditions dynamically, checking whether they are enabled before proceeding with the comparison.
Users can toggle conditions on and off using boolean inputs, allowing for quick adjustments without modifying the code.
Visual Feedback:
A table is displayed on the chart, providing real-time status updates on the conditions and whether they are enabled. This enhances user experience by allowing easy monitoring of the strategy's logic.
Order Execution:
The strategy enters long or short positions based on the combined conditions' evaluations, automatically executing trades when the criteria are met.
How to Use:
Set Up Input Conditions:
Navigate to the strategy’s input settings to configure your desired price sources, operators, and logical combinations for long and short conditions.
Monitor Conditions:
Observe the condition table displayed at the bottom right of the chart to see which conditions are enabled and their current evaluations.
Adjust Strategy Parameters:
Modify the conditions, logical operators, and input sources as needed to optimize the strategy for different market scenarios or trading styles.
Execution:
Once the conditions are met, the strategy will automatically enter trades based on the defined logic.
Conclusion: The "Indicator Test with Conditions Table" strategy is a robust tool for traders looking to implement customized trading logic based on various market conditions. Its flexibility and real-time monitoring capabilities make it suitable for both novice and experienced traders.
COT INDEX v2The **Commitment of Traders (COT)** report is a valuable tool for analyzing market sentiment, providing insight into the positions of futures traders at the close of the Tuesday trading session. Prepared by the Commodity Futures Trading Commission (CFTC), the report is published every Friday at 3:30 p.m. Eastern Time, and the data is freely available on the CFTC website.
Traders are categorized into three groups: **Commercial Traders**, **Non-Commercial Traders** (large speculators), and **Nonreportable** (small speculators). This information can be applied to charts to visualize the direction of the positions held by major market participants and to receive key COT signals.
The **COT index** ranges from 0% to 100%, reflecting market sentiment over the past 26 weeks. Extreme values, below 25% or above 75%, represent bearish or bullish sentiment, respectively. However, it is important to note that the COT index is not a timing tool but rather an indicator of the overall sentiment of major market players.
For a more tailored analysis, you can adjust the period for index calculation, customize chart styles, and highlight extreme areas.
Custom Text BoxThis is an indicator to have text anchored in any symbol or chart, keep your ules at sight so is easy for you to follow, have your Bias too.
Order Book Pressure Index (OBPI)Overview
The Order Book Pressure Index (OBPI) is a custom technical indicator designed to provide traders with a real-time approximation of market pressure by analyzing buying and selling volumes. Unlike traditional indicators that rely heavily on historical price data, the OBPI focuses on current price movements and volume dynamics to offer a more responsive tool for detecting potential market shifts.
Key Features
Approximation of Order Book Pressure : Estimates market pressure by calculating the cumulative delta volume based on price movements and corresponding volumes. False Signal Filtering : Incorporates threshold levels and moving averages to reduce market noise and minimize false trading signals. Multi-Timeframe Analysis : Allows selection of multiple higher timeframes for signal confirmation, enhancing signal reliability. Customizable Parameters : Offers adjustable settings for thresholds, moving average periods, and the number of bars used in calculations.
How It Works
Volume Direction Calculation : Determines the price direction for each bar: Bullish : Closing price > Opening price; volume attributed to buying pressure. Bearish : Closing price < Opening price; volume attributed to selling pressure. Delta Volume Calculation : Computes the difference between buying and selling volumes to obtain the delta volume for each bar. Cumulative Delta Volume : Calculates the cumulative sum of delta volumes over a specified number of bars (user-defined), focusing on recent market activity. Moving Average Application : Applies a moving average to the cumulative delta volume to smooth out short-term fluctuations and highlight underlying trends. Signal Generation with Thresholds : Threshold Levels : User-defined thresholds identify significant changes in market pressure. Buy Signal : Triggered when the cumulative delta volume crosses above the positive threshold and is above its moving average. Sell Signal : Triggered when the cumulative delta volume crosses below the negative threshold and is below its moving average. Multi-Timeframe Filtering : Timeframe Selection : Traders can select multiple higher timeframes (e.g., 15 min, 30 min, 1 hr, 4 hr) via checkboxes. Signal Aggregation : The indicator aggregates signals from the selected timeframes. Final Signal Generation : A buy or sell signal is generated only if it is present on the current timeframe and at least one of the selected higher timeframes.
How to Use
1. Indicator Settings
Max Bars : Sets the maximum number of bars for cumulative delta volume calculation. A smaller number increases responsiveness by focusing on recent activity. Moving Average Period : Adjusts the period for the moving average applied to the cumulative delta volume. A shorter period increases sensitivity; a longer period smooths out noise. Signal Threshold : Defines the minimum delta volume required to generate a signal. Higher thresholds filter out minor fluctuations. Timeframe Selection : Use the checkboxes to select higher timeframes for multi-timeframe analysis. Available timeframes include 15 min, 30 min, 1 hr, and 4 hr.
2. Interpreting the Signals
Buy Signal (Green Triangle Up) : Indicates potential bullish market pressure. Consider entering long positions when the signal appears. Sell Signal (Red Triangle Down) : Indicates potential bearish market pressure. Consider entering short positions or exiting long positions when the signal appears. Signal Confirmation : For higher reliability, ensure that the signal aligns across multiple timeframes. The signal is stronger when confirmed by selected higher timeframes.
3. Trading Strategies
Trend Following : Use the indicator to identify and follow prevailing market trends. Enter trades in the direction of the cumulative delta volume. Reversal Signals : Look for divergences between price movements and the OBPI to anticipate potential market reversals. Risk Management : Always implement appropriate stop-loss and take-profit levels. Combine the OBPI with sound risk management practices.
Best Practices
Combine with Other Indicators : Enhance signal reliability by using the OBPI alongside indicators like RSI, MACD, or support and resistance levels. Adjust Parameters : Test different settings in a demo account to find optimal parameters for your trading style and the specific asset. Market Conditions : Be mindful of market volatility and liquidity, as extreme conditions can affect indicator performance. Backtesting : Conduct thorough backtesting over historical data before applying the indicator to live trading.
Limitations
Approximation : The OBPI provides an approximation of market pressure and does not access actual order book data. Lag in Higher Timeframes : Signals from higher timeframes may lag, affecting the timeliness of combined signals. Complexity : Multi-timeframe features increase complexity and may impact performance on some platforms.
Conclusion
The Order Book Pressure Index (OBPI) offers traders a unique perspective by focusing on current price movements and volume. Its ability to filter false signals and incorporate multi-timeframe analysis makes it a valuable addition to any trading strategy. Remember to use it in conjunction with other analytical methods and always practice prudent risk management.
Disclaimer : Trading involves significant risk. The OBPI indicator is a tool to aid decision-making and does not guarantee profitable trades. Perform your own analysis and consider consulting a financial advisor before making trading decisions.
Flat Market Range Pro [CHE]Flat Market Range Pro Indicator
Introduction
Hey there! 👋
Welcome to our overview of the Flat Market Range Pro indicator. Whether you're new to trading or a seasoned pro, this tool is designed to help you spot those flat market conditions where prices are chilling within a certain range. By highlighting these consolidation zones and potential breakout points, it offers some pretty neat insights to boost your trading strategies. Let’s dive in and explore how this indicator can make your trading journey smoother and more informed!
How It Works
The Flat Market Range Pro indicator is all about understanding the ebb and flow of the market. Here's a simple breakdown:
Range Detection:
Range Period (range_period): This sets the number of bars (think of them as time slices) the indicator looks back to find the highest highs and lowest lows. It’s like setting the scope for your search.
Minimum Candles in Range (min_candles_in_range): Ensures that there are enough candles (price bars) within the range to make the detection meaningful. No point in highlighting a range if it’s too short, right?
Adaptive Moving Average (AMA):
Think of AMA as the indicator’s way of staying flexible. It smooths out the price data to better spot trends within those flat ranges. Don’t worry, it’s working behind the scenes and won’t clutter your chart.
Breakout Detection:
When the price decides to break free from its cozy range, the indicator flags it. It waits for confirmation to make sure it’s not just a fleeting move, adding a layer of reliability to your signals.
Visualization:
Flat Market Zones: These are shaded areas that highlight where the price has been consolidating.
Support and Resistance Lines: Automatically drawn lines that mark key price levels, helping you see where the price might bounce or break through.
Trade Signals: Arrows popping up to show potential buy or sell opportunities when breakouts occur.
Breaking It Down
1. Detecting the Range
The indicator scans through the past range_period bars to find the highest and lowest prices. This creates a dynamic range that adjusts as new data comes in. It’s like having a smart assistant keeping an eye on where the action is happening.
2. The Role of AMA
Even though you won’t see AMA on your chart, it plays a crucial role. It helps the indicator adapt to changing market conditions by smoothing out the data, making sure the breakout signals are spot-on and not just random noise.
3. Spotting Breakouts
A breakout happens when the price moves beyond the established range. The indicator marks these moments with clear arrows, so you know when it might be a good time to jump in or out of a trade. Plus, it waits for confirmation to ensure these signals are solid.
4. Visualizing Flat Markets
Shaded boxes highlight the areas where the price has been consolidating, making it easy to see when the market is flat. Support and resistance lines are drawn automatically, and you can even customize how they look to match your personal style.
Customize It Your Way
One of the best things about the Flat Market Range Pro indicator is how customizable it is. Here’s what you can tweak:
Range Settings:
Adjust the range_period to fit different timeframes.
Set the min_candles_in_range to ensure the ranges you see are meaningful.
Moving Average Settings:
Change the ma_length and ma_lookback to fine-tune how the AMA responds to price movements.
Visual Tweaks:
Pick your favorite colors and transparency levels for the shaded zones.
Choose whether to display support and resistance lines and extend them indefinitely if you like.
Toggle trade arrows and labels on or off based on what you find most helpful.
Organizing these settings into logical groups makes it super easy to customize the indicator just the way you like it.
Real-World Examples
1. Spotting Consolidation: Imagine you’re watching a stock that’s been moving sideways for a while. The indicator highlights this consolidation with shaded boxes and support/resistance lines, giving you a clear picture of where the price is hanging out.
2. Trading Breakouts: When the price finally decides to break free from the range, the indicator pops up buy or sell arrows. This helps you catch the move early, whether you’re looking to enter a new trade or exit an existing one.
3. Making Informed Decisions: With clear visual cues and reliable signals, you can make smarter trading decisions without getting overwhelmed by too much information.
Behind the Scenes: Technical Insights
For those curious about the nuts and bolts, here’s a peek into how the Flat Market Range Pro indicator is built:
Efficient Range Calculation:
Uses loops to scan through the specified range_period, ensuring accurate detection of high and low points.
Adaptive Logic with AMA:
Incorporates the Simple Moving Average (SMA) to create a threshold coefficient, making the indicator responsive to market changes.
Clear Visualization:
Utilizes box.new and label.new for intuitive visual representations of flat markets.
Employs plotshape and plot to display breakout signals clearly on your chart.
Optimized Performance:
Avoids plotting unnecessary elements like AMA, keeping your chart clean and focused on what matters.
Why You’ll Love It
The Flat Market Range Pro indicator brings a lot to the table:
Accurate Range Detection:
Pinpoints consolidation zones by analyzing historical highs and lows.
Flexible and Adaptive:
AMA ensures the indicator stays responsive to different market conditions.
User-Friendly Visuals:
Shaded zones, support/resistance lines, and clear trade signals make your chart easy to understand at a glance.
Highly Customizable:
Tailor the settings to match your trading style and preferences.
Reliable Signals:
Confirmation mechanisms help reduce false signals, giving you more confidence in your trades.
Wrapping It Up
The Flat Market Range Pro indicator is a fantastic tool for anyone looking to navigate flat or consolidating markets with ease. By combining precise range detection, adaptive logic, and clear visual cues, it helps you identify consolidation phases and seize breakout opportunities effectively. Its customizable features ensure that it fits seamlessly into your trading strategy, whether you’re just starting out or have years of experience under your belt.
For more details, a step-by-step guide on using the indicator, and access to the full Pine Script code, check out the accompanying documentation or reach out for support. Happy trading! 🌟
Questions and Further Information
Got questions or need a hand with the Flat Market Range Pro indicator? Feel free to reach out! Whether you’re curious about how it works or need tips on customizing it for your trading style, we’re here to help. Also, give the indicator a try on different charts to see how it performs in various market conditions. Let’s make your trading experience better together!
Best regards
Chervolino
This script was inspired by: Trend Regularity Adaptive Moving Average
and
Range Detection by HasanRifat
