LevelUp^ Trend Follower All-In-OneLevelUp is an all-in-one collection of the most popular trend following tools merged into one indicator. LevelUp automates many aspects of technical analysis to find and highlight chart patterns and signals based on the principles of William O'Neil, Stan Weinstein, Jesse Livermore and other well-known trend followers.
The 10-EMA, 21-EMA and 50-SMA are foundational in LevelUp. LevelUp uses the term moving average alignment to refer to patterns that meet your specific requirements as it relates to moving averages and their relationship to price and one another. For example, you can request the start of MA alignment begin when the low is > 21-EMA, the 21-EMA is > 50-SMA and the 50-SMA is trending up.
LevelUp includes indicators for intraday, daily and weekly timeframes.
Key Features:
Daily Timeframe:
▪ Configure moving average alignment and preferred price action.
▪ Custom RS Line:
▪ Symbol overlays showing new RS highs.
▪ Custom moving average with optional cloud.
▪ View 10-week SMA on daily chart.
▪ Set exit criteria based on moving averages and % below entry.
▪ Stats table to simplify calculating entry/exit points.
▪ Signals table to quickly view if stock is trending up.
▪ Power trend tools and analysis.
Daily & Weekly Timeframe:
▪ Flat base detection with custom configuration.
▪ Consolidation detection with custom configuration.
▪ Highlight lower lows and lower closes (pullbacks).
▪ Highlight 52-week highs.
Weekly Timeframe:
▪ Customizable tight closes.
▪ Customizable up weeks.
Intraday Timeframe:
▪ View daily 10-EMA, 21-EMA and 50-SMA.
▪ 1-day and 2-day AVWAP.
▪ 5-day moving average.
All Timeframes:
▪ Marked highs/lows with lines showing support/resistance.
▪ Custom moving averages.
Daily Chart Examples
The following charts show a range of examples on customization and features in LevelUp when viewing a daily chart.
Weekly Chart Examples
Weekly charts are helpful for identifying longer-term trends and patterns. Trend followers often limit the number of indicators and signals on a weekly timeframe, making for a cleaner chart with less noise.
Intraday Chart Examples
Daily 10-EMA, 21-EMA and 50-SMA on an intraday chart.
AVWAP and marked highs/lows.
RS Line ~ Relative Strength
The RS Line compares a stock's performance to the S&P 500 index. A rising RS Line means the stock is outperforming the overall market. Another important signal is when the RS Line reaches a new high before price. When this occurs, it indicates strong demand for the stock and may precede a significant price increase as buyers accumulate shares. Both signals are customizable within LevelUp providing multiple visual cues when the required conditions are met.
LevelUp also adds a few unique visuals as it relates to the typical RS Line. Included are options to show symbols on the RS line that represent RS Line new high and RS Line new high before price. This provides an at-a-glance view of the trend. Additionally, LevelUp allows for custom moving averages to be applied to the RS Line as well as an optional cloud to help identify support/resistance levels.
Power Trends
When a power trend is active, there is a stronger than usual uptrend underway. The concept of a power trend was created by Investor's Business Daily (IBD) based on extensive backtesting and historical analysis.
A power trend by definition uses a major index, such as the Nasdaq Composite (IXIC), as the data source for determining a power trend's state, either off or on. The LevelUp indicator builds upon this concept by allowing the current active chart symbol to be the data source for the power trend.
What Starts A Power Trend:
▪ Low is above the 21-day EMA for at least 10 days.
▪ 21-day EMA is above the 50-day SMA for at least five days.
▪ 50-day SMA is in an uptrend.
▪ Close up for the day.
What Ends A Power Trend:
▪ 21-day EMA crosses under 50-day SMA and the close is below prior day close.
▪ Close below the 50-day SMA and low is 10% below recent high.
Important Note: The power trend as created by IBD uses the daily 21-EMA and 50-SMA. Hence, the power trend is only shown when on the daily timeframe.
AVWAP - Anchored VWAP
The Anchored Volume Weighted Average Price (AVWAP) , created by Brian Shannon, is used to assess the average price at which an asset has traded since a specific time, event or milestone. This could be the beginning of a trading day, the release of important news, or any other event deemed significant. By anchoring the VWAP to a specific point in time, it helps market participants analyze how prices have evolved relative to that anchor.
If a stock is above a rising AVWAP, buyers are in control, while a declining AVWAP indicates sellers are in control. By analyzing AVWAP, traders can make informed decisions on timing entries, managing losses and profits, or deciding to stay on the sidelines during periods of market indecision.
Tight Weeks And Up Weeks
William O'Neil primarily focused on weekly charts. Two common patterns he looked for were tight weeks and up weeks.
Tight weeks occur when there are small variations in price from one week to the next. This indicates a lack of supply and accumulation by institutions. You can configure the minimum number of weeks and the maximum % change in price from week to week.
Up weeks are defined as multiple weeks where each close is higher than the previous week. This pattern is often a signal of institutional buying. At a minimum, O'Neil looked for three weeks of upward price action. You can configure the minimum number of up weeks required.
Flat Base
A flat based is relatively tight price action within a range. A flat base takes 5+ weeks (25+ days) to form. Although flat bases are often found after a more significant advance in price, this isn't always the case. With that in mind, LevelUp does not currently have requirements for a prior uptrend while scanning for flat bases.
In a flat base, price declines should be no more than 15% from intraday peak to trough. This is an important distinction, as with a consolidation (see below) the maximum depth is based on the high of first bar that started the base.
Default Requirements:
▪ Daily minimum length: 25 days.
▪ Weekly minimum length: 5 weeks.
▪ Depth maximum: 15% (daily or weekly).
Consolidation
A consolidation differs from a flat base in that the former can be much deeper and last longer. In addition, the fluctuations in price of a flat base are often tighter than a consolidation.
Unlike a flat base, the maximum depth is calculated from the high at the start of the consolidation. The minimum length and maximum depth can be customized for all flat base and consolidation patterns.
Default Requirements:
▪ Daily minimum length: 30 days.
▪ Weekly minimum length: 6 weeks.
▪ Depth maximum: 35% (daily or weekly).
Pullback In Price And Potential Bounce
A pullback occurs when the price declines after an initial advance. This is normal price action as prior support levels are tested. Pullbacks also act as a way to shakeout weak holders before the primary trend resumes.
With LevelUp you specify the type of pullback to track: lower lows, lower closes or both. You also set the minimum number of bars required. Different values can be set for daily and weekly charts. Once your requirements are met, LevelUp will highlight the bar after the pullback is complete. This is often a potential entry/add point.
52-Week Highs
A 52-week high refers to the highest closing price within the past 52 weeks. Trend followers often use the 52-week high as a signal to identify assets with upward momentum, considering it as an indication of a potential trend continuation. This approach assumes that assets that have reached a 52-week high are more likely to experience further price appreciation.
52-week highs can be shown on both weekly and daily charts. You can set the location where the 52-week high symbol is shown: above the bar, below the bar, at the top of the chart or at the bottom of the chart.
Marked Highs And Lows
Marked highs/lows, often referred to as pivot highs/lows, can be helpful to find areas of potential support and resistance. As defined by William O'Neil, on a daily chart, a marked high is the highest high going back nine bars and forward nine bars. The number of days forward/backward is referred to as the period. The same concept applies to finding marked lows.
One benefit of LevelUp marked highs/lows is that you can customize the high and low periods on all timeframes.
There is an additional option when viewing marked highs/lows to see where a breakout occurs. The highlight is shown if the current bar high is above the most recent pivot high.
Comparing Stock Performance
With two or more copies of LevelUp installed, you can configure different settings and compare and contrast how indicators and signals perform relative to one another.
This is a great way to come up with your own custom layout for each timeframe, tailored to your preferences and trading style.
Stats And The Signals Table
The stats and signal tables can be very helpful to see price information and patterns at a glance. For example, you can quickly determine potential stoploss placement based on the distance to/from a moving average. The signals tables show the status of several key trend indicators, including 52-week highs, RS Line new high and RS Line new high before price.
Managing Long Term Trends
Depending on your trading style, there are many ways to take advantage of long term trends. For example, the chart that follows show how an uptrend can be a profitable trade whether holding for the duration or taking shorter term trades along the way.
在腳本中搜尋"entry"
Intraday FIB ScalpingThe Intraday Fibonacci Levels Indicator is a powerful tool designed to enhance trading decisions in intraday markets. Leveraging the dynamic nature of Fibonacci retracement levels, this indicator utilizes the high and low prices observed within the first 15 minutes of the trading session to plot key levels and establish potential entry and exit zones.
Key Features:
Automatic Calculation: The indicator swiftly calculates Fibonacci retracement levels based on the highest high and lowest low recorded during the initial 15 minutes of the trading day. This ensures a quick and accurate representation of potential support and resistance levels.
Zone Marking for Precision: The indicator marks specific zones on the chart, providing traders with clear visual cues for potential entry and exit points. These zones are strategically aligned with Fibonacci levels, offering a systematic approach to decision-making.
User-Friendly Interface: With a user-friendly interface, the Intraday Fibonacci Levels Indicator is suitable for both novice and experienced traders. The intuitive design allows for easy interpretation of signals and levels.
By harnessing the power of Fibonacci retracement levels and incorporating them into an intraday context, this indicator empowers traders with a systematic and data-driven approach to decision-making. Whether identifying entry points, setting stop losses, or planning exit strategies, the Intraday Fibonacci Levels Indicator serves as a valuable ally in navigating the complexities of intraday trading.
How to Trade using these Levels?
With this indicator, you can see all the levels between whole number and its corresponding 0.272 were highlighted. That is where we need to look for intraday trade entry. If any of the level broken on either side and the bar closes below ore above the highlighted area, we should enter the trade in that direction with immediate next FIB level as TP1 and subsequent level as TP2. And, an opposite directional close above or below the highlighted level will be considered as stop loss exit.
We prefer to trade in 3 minutes or 5 minutes timeframe for intraday trading.
How we plot the levels?
We are incorporating ORB into Fibonacci to plot intraday trading levels. We use high and low of first 15 minutes candle of each new trading session to arrive the levels for that session.
When market is trading above or below initially plotted levels, user can extend the levels by enabling extentions provided in user settings
Forex Master Pattern Screener 2Overview
The Forex Master Pattern Screener 2 is based on the Master Pattern, which includes contraction, expansion, and trend phases. This indicator is designed to identify and visualize market volatility, market phases, multi-timeframe contractions, liquidity points, and pivot calculations. It provides a clear image of the market's expansion and contraction phases. It's based on an alternative form of technical analysis that reveals the psychological patterns of financial markets through three phases.
Unlike the other master pattern indicators that just use highs and lows and aren't as accurate for finding contractions, this one uses actual measures of volatility to find extremely low levels of volatility and has customizable parameters depending on what you want to do.
What is the Forex Master Pattern?
The Forex Master Pattern is a framework that revolves around understanding market cycles, comprising the three main phases: contraction, expansion, and trend.
Contraction Phase: During this phase, the market has low volatility and is consolidating within a narrow range. Institutional volume tends to be low, and it's suggested to avoid trade entries during this period.
Expansion Phase: Volatility starts to increase, and there start to be bigger moves in price. Institutional traders start accumulating positions in this phase, and they might manipulate prices to draw in retail traders, creating liquidity for their own buying or selling goals.
Trend Phase: This final phase completes the market cycle. Institutional traders begin taking profits, leading to a reversal. This triggers panic among retail traders, resulting in liquidations and stops. This generates liquidity for institutional traders to profit, leaving retail traders with overvalued positions.
Value Line:
The "value line" acts as the fair value zone or the neutral belief zone where buyers and sellers agree on fair value. It can be likened to the center of gravity and is created during contraction zones.
Applications:
Identifying these phases and understanding the value lines can help traders determine the market's general direction and make better trading decisions.
This isn't a strategy but a concept explaining market behavior, allowing traders to develop various strategies based on these principles
The contractions, which are based on volatility calculations, can help you find out when big moves will occur, known as expansions.
How traders can use this indicator
1. Identifying Market Phases:
Contraction Phase: Look for periods where the market has low volatility and is contracting, indicated by a narrow range and highlighted by the contraction box. During this phase, traders prepare for a breakout but usually avoid making new trades until a clearer trend emerges.
Expansion Phase: When the indicator signals an expansion, it suggests that the market is moving out of consolidation and may be beginning a new trend. Traders might look for entry points here, anticipating a continuation of the trend.
Trend Phase: As the market enters this phase, traders look for signs of sustained movement in one direction and consider positions that benefit from this trend.
2. Multi-Timeframe Analysis:
By looking at multiple timeframes, traders can get a broader view of the market. For instance, a contraction phase in a shorter timeframe within an expansion phase in a longer timeframe might suggest a pullback in an overall uptrend. This indicator comes with a MTF contraction screener that is customizable.
2. Fair Value Lines:
The fair value acts like a "center of gravity.". Traders could use this as a reference point for understanding market sentiment and potential reversal points. This indicator shows these values in the middle of the contraction boxes.
3. Volatility Analysis:
This indicator's volatility settings can help traders understand the market's current volatility state. High volatility indicates a more active market with larger, faster moves, while low volatility might suggest caution and tighter stop-losses or take-profits. If volatility is contracting, then an expansion is imminent. This indicator shows the volatility with percentile ranks in 0-100 values and also alerts you when volatility is contracting, aka the contraction phase.
Volatility Calculations:
This indicator uses a geometric standard deviation to measure volatility based on historical price data. This metric quantifies the variability of price changes over a specified lookback period and then computes a percentile rank within a defined sample period. This percentile calculation helps evaluate the current volatility compared to historical levels.
Based on the percentile rank, the indicator sets thresholds to determine whether the current volatility is within a range considered "contraction" or not. For example, if there are really low levels of volatility on the percentile rank, then there is currently a contraction phase. The indicator also compares the volatility value against a moving average, where values above the current moving average value signal the expansion phase.
Multi-Timeframe Analysis (MTF):
This indicator comes with a multi-timeframe table that shows contractions for 5 different timeframes, and the table is customizable.
Bands:
This indicator comes with bands that are constructed based on the statistical calculations of the standard deviation applied to the log-transformed closing prices. It is commonly assumed that the distribution of prices fits some type of right-skewed distribution. To remove most of the skewness, you can use a log transformation , which makes the distribution more symmetrical and easier to analyze, thus the use of these bands . These bands are in the 2 standard deviation range. You can use these bands to trade at extreme levels. The band parameter is based on the contraction volatility lookback, which is in the Volatility Model Settings tab.
Ways the bands could be used with the contractions:
1. Identifying Breakout trades:
Contraction Zones: These zones indicate periods of low volatility where the market is consolidating. There are usually narrow price ranges, which are considered a build-up phase before a significant price move in any direction.
Bands: When the contraction zone occurs, you might notice the bands tightening around the price on smaller lookback periods, reflecting the decreased volatility. A continuous widening of the bands could then signal the beginning of an expansion phase, indicating a potential breakout opportunity.
2. Enhancing Trade Timing:
Before the Breakout: During the contraction phase, the bands might move closer together, reflecting the lower volatility. You can monitor this phase closely and prepare for a potential expansion. The bands can provide additional confirmation; for instance, a price move toward one of the bands might show an extreme occurrence and might show what the direction of the breakout could be.
After the breakout: Once the price breaks out of the contraction zone and goes to the expansion phase, and if it coincides with the bands widening significantly, it could reinforce the strength and potential sustainability of the new trend, providing a clearer entry.
3. Price-touching bands during a contraction:
If the price repeatedly touches one of the bands during a contraction phase, it might suggest a buildup of pressure in that direction. For example, if the price is consistently touching the upper band even though the bands are narrow, it might suggest bullish pressure that could occur once the expansion phase begin.
4. Price at the band extreme levels during Expansion:
If the price is at the extreme levels of the bands once the expansion phase occurs, it might indicate unsustainable levels and a low probability of the price continuing beyond those levels. Potentially signaling that a reversal will occur. Some trades could use these extremes to place entries during the expansion phases.
Liquidity Levels:
This script comes with liquidity points, whose functionality goes towards identifying pivotal levels in price action, focusing on swing highs and swing lows in the market. These points represent areas where significant buying (for swing lows) or selling (for swing highs) activity has occurred, implying potential levels or resistance in the price movement.
These liquidity points, often identified as highs and lows, are points where market participants have shown interest in the past. These levels can act as psychological indications where traders might place orders, leading to increased trading activity when these levels are approached or breached. When used with the Forex Master Pattern phases, liquidity levels can enhance trades placed with this indicator. For instance, if the market is expanding and approaches a significant liquidity level, there might be a higher chance of a breakout or reversal, showing a possible entry or exit point.
Liquidity Levels in the Contraction Phase:
Accumulation and Distribution: During the contraction phase, liquidity levels can indicate where huge positions are likely accumulating or distributing quietly. If price is near a known liquidity level and in a contraction phase, it might suggest that a large market player is building a position in anticipation of the next move.
Breakout Points: Liquidity levels can also give clues about where price could go after the breakout from the contraction phase. A break above a liquidity level might indicate a strong move to come as the market overcomes significant selling pressure.
Liquidity Levels in Expansion Phase:
Direct Confirmation: As the expansion phase begins, breaking through liquidity levels can confirm the new trend's direction. If the price moves past these levels with huge volume, it might indicate that the market has enough momentum to continue the trend.
Target Areas: Liquidity levels can act as target areas during the expansion phase. Traders using this indicator could look to take profits if the price approaches these levels, possibly expecting a reaction from the market.
True SMCThe True SMC Indicator is specifically designed for structure mapping and the identification of high-probability Order Blocks. Excelling in distinctly recognising four types of Order Blocks, it provides traders with a direct and efficient method to dissect market movements and identify strategic entry points with precision
🔶 Understanding Structure Mapping
This indicator introduces a unique approach to analysing market structure, focusing on liquidity, which is termed 'Inducement'. Inducement is crucial for identifying key structural markers in the market, such as Higher Highs (HH), Higher Lows (HL), Lower Lows (LL), and Lower Highs (LH).
Inducement acts like a trap set near a supply or demand zone. It entices impatient buyers or sellers into the market before the actual zone is reached, thereby creating liquidity. For an inducement to be considered valid, it must represent a valid pullback.
A valid scenario occurs when the price sweeps or closes beyond the high or low of the previous candle; in this case, the candle's color, whether bullish or bearish, is not relevant, and both scenarios are considered valid. Inside bars are ignored as they do not meet this criterion. The indicator assists in this process by automatically highlighting valid pullbacks with a distinctive gray round label.
This feature is not just a visual aid but also a crucial tool in effortlessly understanding market movements, providing a clear visual representation of ongoing market trends.
🔶 Understanding How Order Block is working
Our indicator incorporates four distinct types of Order Blocks, each designed for specific roles in market analysis. Among these, the **OB-IDM** and **OB-EXT** are regarded as high-probability Order Blocks, and our primary focus is on these two for market entry.
IDM Order Block (OB-IDM): IDM Order block (OB-IDM) is basically the first Order Block that shows up after the IDM level is passed. Think of it as the closest OB you find below the current IDM.
Extreme Order Block (OB-EXT): OB-EXT is the first and lowest Order Block that you'll find between a Major Low and a Major High.
Single Candle Order Block (SCOB): Single candle mitigation is very Powerful way to add multiple entries in you're winning trades.
Smart Money Trap (SMT): The SMT consists of all the Order Blocks that lie between the Extreme and OB-IDM. It acts as a cautionary signal, indicating potential traps for Smart Money Concept traders. It is essential to recognize that the SMT does not provide additional confirmation for trading. Instead, it highlights areas where traders should exercise extra caution. Trading decisions should be based on clear confirmations, such as inducements or liquidity sweeps, rather than solely on the SMT.
🔶 How to Use the True SMC Indicator:
The True SMC Indicator is designed to enhance your trading strategy by identifying key order blocks and market signals. Below is a guide on how to utilize the various elements of the True SMC Indicator:
OB IDM (Order Block Inducement):
Usage : This is a decisional order block crucial for identifying trade entries. It is particularly effective for pinpointing potential reversal zones.
Alerts: Setting up alerts on OB IDM is recommended to be notified when the price reaches this critical area, thus facilitating prompt and informed trading decisions.
OB-EXT (Extreme Order Block):
Usage : OB-EXT serves as an extreme and high-probability order block for trade entries, ideal for identifying strategic entry points at potential reversal points.
Alerts: Activating alerts on OB-EXT will keep you informed about price approaches, aiding in the preparation of your trade setups.
SCOB (Single Candle Order Block):
Usage : SCOB is ideal for scaling into a position. It should be employed for adding to positions when the market reacts to OB IDM or OB-EXT, indicating a potential reversal.
SMT (Smart Money Trap):
Usage Caution: The SMT should be approached with caution as it represents a potential trap. It is advised to avoid trading directly at SMT zones. Instead, use these zones to gauge market sentiment and make informed decisions.
This structured approach to using the True SMC Indicator will help you in making more precise and strategic trading decisions, enhancing your overall market analysis.
🔶 Example of usage:
Market Structure Diagram
This diagram illustrates the key structural markers in the market such as Higher Highs (HH), Higher Lows (HL), Lower Lows (LL), and Lower Highs (LH). It provides a visual guide to understanding the underlying market structure.
Example from a Real Chart: This chart is a prime example of how our indicator is used to dissect and highlight market structure in a live trading environment. It vividly demonstrates the 'Inducement' concept in action, pinpointing key structural points like HH, HL, LL, and LH in real-time market trends.
Valid Pullback
Illustration of a Valid Pullback: This image showcases a typical scenario where the price sweeps beyond the previous candle's high or low, marking a valid pullback. Notice the distinctive gray round label indicating the point of inducement.
IDM Order Block (OB-IDM)
This diagram illustrates the IDM Order Block (OB-IDM), highlighting its position as the first OB following the IDM level. It represents the nearest OB below the current IDM level.
IDM Order Block in Action This real chart example showcases the OB-IDM in a live market scenario, demonstrating how it appears and functions in practical trading.
Extreme Order Block (OB-EXT)
The diagram depicts the OB-EXT, which is identified as the first and lowest Order Block between a Major Low and a Major High.
OB-EXT in Real Market: This chart example highlights the OB-EXT, showing its position and significance in market analysis between major market points.
Single Candle Order Block (SCOB)
The accompanying chart demonstrates the SCOB in a live trading environment, illustrating its effectiveness in trade optimization.
Smart Money Trap (SMT)
This real chart provides insight into how the SMT is used in actual trading, marking areas for increased caution and illustrating its role in a comprehensive trading strategy.
🔶 Additional Features
Easy-to-Follow Trend Display : The script employs a Color Coded candle system, simplifying trend recognition.
Any Alert function call = It can be configured for a range of trading events, allowing you to stay informed about key market movements. In the settings, you can choose to enable or disable alerts for events such as BOS Sweep, CHock, CHock Sweep, IDM, IDM Sweep, OB IDM, OB EXT, and PDH/PDL.
Automatic resolving of ChoCh-IDM and IDM-BoS conflicts = The indicator is equipped to automatically resolve conflicts that arise between ChoCh-IDM and IDM-BoS. It intelligently identifies situations where there might be an IDM instead of a ChoCh, or a BoS instead of an IDM, ensuring accurate readings and analysis.
Anywhere Structure Mapping : The tool simplifies market analysis by enabling you to draw structures from any chosen moment. Simply adjust the slider to your desired point and instantly trade based on the internal structure revealed. This feature offers an intuitive and efficient way to understand and navigate market dynamics.
🔶 Conclusion
The True SMC Indicator distinguishes itself from other market analysis tools through its specialised focus on structure mapping and high-probability Order Blocks. Unlike generic indicators, it expertly identifies and categorizes four distinct types of Order Blocks, including IDM and Extreme Order Blocks, which are crucial for high-accuracy trade entries. Its unique approach in analysing market structure centers on 'Inducement,' a key concept for pinpointing vital market structural markers. This feature, combined with its ability to alert traders to both promising entry points and potential Smart Money Traps, equips users with a comprehensive tool for a nuanced understanding of market dynamics and strategic trade execution. Such targeted capabilities make the True SMC Indicator an invaluable asset for traders seeking precision and efficiency in their market analysis.
Daily Automatic OTE (FX4LIVING)Description:
The Daily Automatic OTE is the Free version of the Automatic OTE (FX4_LIVING) . Unlock the Daily OTE with this advanced indicator, simplifying the intricate world of Daily Fibonacci retracements.
In collaboration with FX4_LIVING, key levels are thoughtfully grouped for enhanced ease and organization. These include the High, Low, Equilibrium (EQ), and the Optimal Trade Entry (OTE).
Optimal Trade Entry is a concept taught by the Inner Circle Trader utilizing fibonacci retracements to gauge when price is considered in Premium or Discount. When price reaches 62% retracement of the anchored swings, price enters an area considered for an optimal trade entry.
This said, these levels can act as much more than a simple retracement tool, showing continuous levels that price refers back to based on Premium and Discount prices of the previous interval.
CME_MINI:NQ1! Price trading from Premium to Discount, landing at OTE at the end of the Day:
... another CME_MINI:NQ1! example, the following Day:
This tool provides with default levels aligned to FX4_LIVING's Trading Models. The integrated data table offers a distilled view of price action, enabling easy tracking where price is trading compared to the previous Day in percentage – where the High and the Low represent Previous Daily High and Previous Daily Low interchangeably. This feature allows you to quickly know where price is, even if you decide to hide the Fibonacci Levels.
Key Features:
Versatility Across Assets: Daily Automatic OTE is meticulously designed for futures, forex, and bond markets, offering a comprehensive solution for a wide range of financial instruments.
Adaptive Table Colors: witness the data table adapt its colors when price approaches OTE levels, aligning seamlessly with Fibonacci levels.
Other Features:
Customize Fibonacci and Key Level Line Style.
Personalize Fibonacci and Key Level Line Color.
Adjust Fibonacci and Key Level Line Width.
Tailor Table Size and Location.
Usage Guidance:
Add Daily Automatic OTE to your Tradingview chart.
Observe where and when Fibonacci Levels are traded. Leverage this invaluable information to shape your narrative, whether you choose to explore internal range liquidity or capitalize on post-purge reversals.
Customize your desired Timeframe and Fibonacci Levels according to your preferences.
These tools are available ONLY on the TradingView platform.
Automatic OTE (FX4LIVING) [Pro+]Description:
Unlock the precision of your trading endeavors with our cutting-edge Automatic OTE Fibonacci Tool. This advanced indicator not only simplifies the intricate world of Fibonacci retracements but also introduces a unique time-based anchoring feature.
Thanks to the Timeframe feature, analysts can anchor Fibonacci High and Low values to any selected timeframe. While many find Monthly, Weekly, Daily, 4H, and 1H ranges effective, our tool offers unparalleled flexibility, allowing custom Tradingview times for 90-minute candle ranges and other bespoke intervals.
In collaboration with FX4_LIVING, key levels are thoughtfully grouped for enhanced ease and organization. These include the High, Low, Equilibrium (EQ), and the Optimal Trade Entry (OTE).
Optimal Trade Entry is a concept taught by the Inner Circle Trader utilizing fibonacci retracements to gauge when price is considered in Premium or Discount. When price reaches 62% retracement of the anchored swings, price enters an area considered for an optimal trade entry.
This said, these levels can act as much more than a simple retracement tool, showing continuous levels that price refers back to based on Premium and Discount prices of the previous interval.
15s Chart + 15m Automatic OTE:
5m Chart + 4H Automatic OTE:
This tool provides analysts the flexibility to input various Fibonacci Levels, with default settings aligned to FX4_LIVING's Trading Models. The integrated data table offers a distilled view of price action, enabling easy tracking where price is trading compared to the previous selected interval in percentage – where the High and the Low represent 0% and 100% interchangeably. This feature allows you to quickly know where price is, even if you decide to hide the Fibonacci Levels.
Key Features:
Versatility Across Assets: Auto OTE Pro+ is meticulously designed for futures, forex, and bond markets, offering a comprehensive solution for a wide range of financial instruments.
Timeframe Customization: Auto OTE Pro+ allows users to anchor timeframes, providing analysts with the flexibility to explore various ranges.
Adaptive Table Colors: witness the data table adapt its colors when price approaches OTE levels, aligning seamlessly with Fibonacci levels.
Other Features:
Customize Fibonacci and Key Level Line Style.
Personalize Fibonacci and Key Level Line Color.
Adjust Fibonacci and Key Level Line Width.
Tailor Table Size and Location.
Usage Guidance:
Add Auto OTE to your Tradingview chart.
Observe where and when Fibonacci Levels are traded. Leverage this invaluable information to shape your narrative, whether you choose to explore internal range liquidity or capitalize on post-purge reversals.
Customize your desired Timeframe and Fibonacci Levels according to your preferences.
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.
VWAP with CharacterizationThis indicator is a visual representation of the VWAP (Volume Weighted Average Price), it calculates the weighted average price based on trading volume. Essentially, it provides a measure of the average price at which an asset has traded during a given period, but with a particular focus on trading volume. In our case, the indicator calculates the VWAP for the current trading symbol, using a predefined simple moving average (SMA) with a period of 14. This volume-weighted moving average offers a clearer view of the behavior of the VWAP and, of consequence of market dynamics.
One of the distinctive features of this indicator is its ability to provide a more "linear" representation of the data. This means that the data is "smoothed" to remove noise, allowing you to more easily identify the direction of the market trend. This smoother representation is especially useful because the financial market can be subject to significant fluctuations and volatility, and this indicator can help get a more stable view of the trend.
The indicator also offers a visualization of the market trend in a very intuitive way. Using an evaluation of the highs and lows of the last 10 days, determine whether the market is in an uptrend, downtrend, or no trend at all. To make this evaluation even clearer and more immediate, the indicator line is colored dynamically. When the trend is bullish, the line is blue, while in case of a bearish trend, it takes on a distinctive color, such as pink. If the trend is not defined, the line will be colored differently, for example light yellow. This coloration gives traders an immediate visual indication of the prevailing trend, allowing them to make more informed decisions regarding trading operations.
One potential strategy involves watching candles when they cross the VWAP line strongly. If, for example, a candlestick breaks above the VWAP line, we may look for retest areas near key support levels to gauge a potential long entry. In other words, we would consider that the price may have the potential to rise further after breaking above the VWAP line, and we would look to enter a long position to take advantage of this opportunity.
On the other hand, if a candlestick crosses below the VWAP line, we might consider looking for retest areas near the VWAP line itself, which now serves as potential resistance. This could indicate a possible short entry opportunity, as the price may struggle to break above the resistance represented by the VWAP line after breaking it down. In this case, we would look to take advantage of the expected continuation of the downtrend.
In both cases, the idea is to exploit significant movements across the VWAP line as signals of potential reversal or continuation of the trend. This strategy can help identify key entry points based on price behavior relative to the VWAP line.
Position calculator [krazke]This indicator will help you calculate your position. This will automatically calculate potential liquidation price and select leverage for your stop loss and risk size.
How to use it:
1. Select position direction. (long checkmark - selected if it's long)
2. Select entry. If you want to use custom entry price select checkmark and set value. (Current price is default entry)
3. Enter stop loss.
4. Enter risk.
5. Enter max leverage for current ticker.
P.S. Liquidation price is not 100% correct but it almost.
Candle Tick SizeHello everyone!
I dont think it exists, I couldnt find it any way I searched, maybe it is part of a bigger indicator. This is a really basic code, all it does, it shows the tick/pip size of the candles forming. You can adjust on how many candles should it show. Also because the code counts the point size of the candles from high to low, you can adjust that how many ticks are in one point, like for ES and NQ 4 ticks to a point, which is the basic setting. It helps me with entrys when I calculate the contract size so my risk/reward stays pretty much the same depending on the candle size for my entrys.
TradeMaster ProTrading effectively requires a range of techniques, experience, and expertise. From technical analysis to market fundamentals, traders must navigate multiple factors, including market sentiment and economic conditions. However, traders often find themselves overwhelmed by market noise, making it challenging to filter out distractions and make informed decisions. To address this, we present a powerful indicator package designed to assist traders on their journey to success.
The TradeMaster indicator package encompasses a variety of trading strategies, including the SMC (Supply, Demand, and Price Action) approach, along with many other techniques. By leveraging concepts such as price action trading, support and resistance analysis, supply and demand dynamics, these indicators can empower traders to analyze entry and exit positions with precision. Unlike other forms of technical analysis that produce values or plots based on historical price data, Price Action brings you the facts straight from the source - the current price movements.
The indicator package consists of three powerful indicators that can be used individually or together to maximize trading effectiveness.
⭐ About the Pro Indicator
The Pro indicator is the cornerstone of the package, offering a comprehensive range of functions. It's strength lies in our unique structure calculation, which is based on real price action data, capturing every ticks from small intraday fluctuations to the significant high timeframe movements. The Pro Indicator reflects our personal use and deep comprehension of Smart Money Concepts. It provides streamlined tools for tracking algorithmic trends with modern visualizations, without unnecessary clutter.
In the ever-evolving trading landscape, mainstream methods and strategies can quickly become outdated as they are widely adopted. Liquidity is constantly sought after, and the best source for this is exploring and exploiting trading strategies that are widely accepted and applied. Currently, one of these strategies is the SMC (Supply, Demand, and Price Action).
It's no coincidence that our educational materials incorporate concepts such as liquidity grabs (LG) and Smart Money Traps (SMT). As the application of SMC gains popularity among retail traders, trading with this approach becomes more challenging. Therefore, the recent focus has been on reforming the SMC methodology, as it is the only method that relies on real price movements and will always work when applied correctly.
▸ What does proper application of SMC entail?
Many SMC traders associate their key areas of interest with the market structure, which is generally considered acceptable. However, depending solely on a single foundation can lead to significant deviations, which may cause notable impacts on trading results. Moreover, if the basis for the market structure calculation is inaccurate, the consequences can be even more severe. It's akin to risking money on a lottery ticket, believing it will be a winner.
Our methodology is different, and it may ensure longevity in the financial markets. The structure remains crucial, but it is not the sole foundation of everything; instead, it serves as a validation tool. Each calculation, such as order blocks (OB), Fair Value Gaps (FVG), liquidity grabs (LG), range analysis, and more, is independent and unique, separate from the structure. However, validation must ultimately come from the structure itself.
We employ individual and high-quality filters: before a function calculation is validated by the structure, it must undergo rigorous testing based on its own set of validation conditions. This approach aims to enhance robustness and accuracy, providing traders with a reliable framework for making informed trading decisions.
▸ An example for structure validation: Order Block with "Swing Sensitivity"
These order blocks will only be displayed and utilized by the script if there is a swing structure validation with a valid break. In other words, the presence of a confirmed swing Change of Character (ChoCh) or Break of Structure (BoS) is essential for the Order Block to be considered valid and relevant.
This approach ensures that the order blocks are aligned with the overall market structure and are not based on isolated or unreliable price movements. Whether it's Fair Value Gaps (FVG), Liquidity Grabs (LG), Range calculations, or other functionalities, the same underlying principle holds true. The background structure calculation serves as a validation mechanism for the data and insights generated by these functions, ensuring they adhere to the specific criteria and rules established within our methodology. By incorporating this robust validation process, traders can have confidence in the reliability and accuracy of the information provided by the indicator, allowing them to make informed trading decisions based on validated data and analysis.
👉 Usage - the general approach:
Determine your trading style using the Pro Indicator and build your basic strategy. This indicator helps you understand your trading style, whether it's swing trading, scalping or another approach. By analyzing the Pro Indicator, you gain valuable information about potential market trends, entry and exit points, and overall market sentiment.
👉 Example of usage:
In the following chart, you'll notice how we've utilized the indicator to formulate a strategic trading approach. We've employed Order Blocks equipped with volume parameters to identify crucial market zones. Simultaneously, we've leveraged swing/internal market structures to gain insights into potential long and short-term market turnarounds. Lastly, we've examined trend line liquidity zones to pinpoint probable impulses and breakouts within ongoing trends.
Now we can see how the price descended to the order block with the highest volume, which we had previously marked as our point of interest for an entry. As the price closed below the median Order Block, we noted its mitigation. After an internal CHoCH, it's directing us towards the main Order Block as a target.
👉 Smart Money Concepts Functions
Market Structure: identifies and marks key structural changes in the market, in order to visually highlight shifts in market trends and patterns. This feature is designed to alert you of significant changes in the market's behavior, signaling a potential shift from accumulation to distribution phase, or vice versa. It helps traders adapt their strategies based on evolving market dynamics.
Order Blocks: pinpoints crucial zones where large institutional investors ("smart money") have shown strong buying or selling interest recently. Order blocks can serve as a tool for identifying key levels for potential trade entries or exits.
FVGs (Fair Value Gaps): detects discrepancies between the perceived market value and actual market price, revealing potential areas for price correction. With its mitigation settings, you can fine-tune the FVG detection according to the magnitude of value misalignment you consider significant.
Liquidity Grabs: helps track "smart money" footprints by identifying levels where large institutional traders may have induced liquidity traps. Understanding these traps can aid in avoiding false market moves and optimizing trade entries.
Automatic Fibonacci Tool: Simplifying the task of identifying key Fibonacci retracement and extension levels, this tool ties Fibonacci levels to the structure for you. It aids in recognizing significant support and resistance levels, providing a clearer understanding of potential price movements.
The Smart Money Concepts trading strategy - combined with these dynamic features - becomes a powerful analytical asset for any trader, providing in-depth insights into market dynamics, trends, and potential opportunities.
👉 Algorithmic trend and dynamic support and resistance
Trend Rainbow: This proprietary feature uses our unique TRMA** method to define short-term, medium-term, and long-term market trends. It incorporates state-of-the-art visualization techniques to render the trend information in an intuitive, easily interpretable manner. It's a 21st-century tool designed for the modern trader who values both precision and simplicity.
Multi-Timeframe Moving Averages: This feature allows traders to simultaneously monitor moving averages across multiple timeframes, providing a comprehensive perspective on market trends. It helps identify dynamic support and resistance zones, key levels where price movements are likely to slow down or reverse. This function not only aids in planning potential trade entries and exits, but also calculates the precise percentage distance to these levels. Can be as well crucial for risk management, enabling traders to set stop losses and profit targets based on solid, data-driven analysis. The Multi-Timeframe Moving Averages function is a versatile tool that combines strategic planning and risk control into a single, easy-to-use feature.
👉 Unlock the Hidden Market Dynamics
Market Sessions: This feature - by default - provides a clear representation of the four major global trading sessions. Each session is distinctly marked on your trading chart, helping you visualize the specific time periods when these markets are most active. Recognizing these sessions is critical for understanding market dynamics, as the opening and closing of major markets can lead to significant price movements. Whether you're a day trader looking to exploit intra-day volatility or a long-term investor wanting to understand broader market trends, the Market Sessions feature can be a useful tool in your trading toolkit.
Divergence Functions: allow the use of unique indicators along with our proprietary ones to detect potential price reversals. As each asset has a different market maker, divergences can vary greatly across different charts and timeframes. With our Divergence Ranking Table, you can quickly determine which divergences have the highest success rates and which are the least successful on a given chart. This feature allows you to adapt your strategies to the most effective signals, enhancing your trading decisions and boosting your potential profits.
Volume Profile with delta: This feature may give traders an edge by providing an in-depth view of market activity. It illustrates the amount of trading volume at different price levels, combined with the 'delta', which is the difference between buying and selling volume. This information allows you to see areas of high trading activity and understand whether the volume is pushing the price up or down. This real-time insight into the market's supply and demand can be instrumental in identifying key support and resistance levels, predicting potential reversals, and recognizing where the market is likely to move. Similarly to Fibonacci tool, Volume Profile can be tied to the current market structure.
👉 Improve Trading Decisions
Range: This innovative feature assists traders in determining discount, premium, and equilibrium zones. It provides a unique way of visualizing price areas where a security could be overbought or oversold (premium or discount zones), and where the price is expected to be fair and balanced (equilibrium zone). Distance from current price is displayed in percentage terms, which can assist traders with crucial data for risk management and strategic planning. The Range function helps you identify the most favorable price zones for entries and set your stop-loss and take-profit levels more accurately.
Previous OHLC: This functionality offers the capability to display the previous Open, High, Low, Close values. It is primarily set on the daily timeframe and serves as an important reference for traders. Having an overview of these key levels from the previous day gives you a solid foundation on which to base today's trading decisions. Recognizing these levels can help you predict potential turning points in the market, providing an advantage in your trading strategy.
Smart Money Zones: our secret weapon for swing traders. Similarly to order blocks, these zones can accurately identify crucial areas of strong buying or selling interest by large institutional investors. However while Order Blocks focus on recent price action, Smart Money Zones take the whole chart into consideration, resulting in more established support and demand zones.
The summary graph combines six unique indicators (Momentum, Trend Strength, Volume, Volatility, Asset Strength, and Sentiment) along with Structure and Sessions. These indicators use our TRMA** method to provide a comprehensive overview of market dynamics. By consolidating these indicators into a single graph, traders can gain valuable insights into the overall market landscape.
** TRMA (Trend Rainbow Moving Averages) is a complex but customizable moving average matrix calculation that is designed to measure market trend direction, strength and shifting.
⭐ Conclusion
We hold the view that the true path to success is the synergy between the trader and the tool, contrary to the common belief that the tool itself is the sole determinant of profitability. The actual scenario is more nuanced than such an oversimplification. Our aim is to offer useful features that meet the needs of the 21st century and that we actually use.
🛑 Risk Notice:
Everything provided by trademasterindicator – from scripts, tools, and articles to educational materials – is intended solely for educational and informational purposes. Past performance does not assure future returns.
Probability Box Rule of Thirds [PPI]█ Probability Box Rule of Thirds
The Probability Box Rule of Thirds , is a visual indicator that helps traders identify possible overbought and oversold conditions. It does this by dividing the price range – highest high minus the lowest low of a given lookback period or date range – into thirds. Each third has distinct probability characteristics and when combined represent a probability box.
We have spent years refining the probability box concept, and have previously published a How To on Trading View – "How to Trade Probability Ranges – The Critical Rule of 1/3" which can be found here:
To quickly summarize the How To – when using the Rule of Thirds , you are using a combination of statistics, probabilities of success, and prior price action to determine when to enter a trade. The visual range division helps remove subjectivity and clearly shows when the trading odds are stacked in your favor. By identifying and taking higher probability trades, you have a higher chance of success as trading is all about probability and risk management.
Implementing the Rule of Thirds starts with finding an instrument that is consolidating and identifying the nearest important support and resistance levels based on your targeted trading timeframe or lookback period.
The range between the support and resistance levels is divided into thirds to form three zones within the consolidation range.
When going LONG , you want to BUY in the bottom third of the range. Once you buy, your objective is to hold during the middle third and sell when the price enters the top third.
When you buy in the lower third, there's a 66.6% probability of success. If you buy in the middle third, you only have a 50% / 50% chance of success. Going long in the top third of the range gives you a 33.3% chance of success as you are already close to the identified resistance level.
When going SHORT , the sequence and odds are reversed. You want to SELL in the top third of the range, hold the middle third and exit in the bottom third of the range. This gives you a 66.6% chance of success when entering in the top third, a 50% / 50% chance when entering in the middle third, and a 33.3% chance in the bottom third given you are already close to the identified support level.
When the price lies in the middle third, the even 50% / 50% odds provide no probability edge and a trader is better off waiting until the price reaches the upper or lower thirds of the price range.
The Rule of Thirds allows us to quickly visually evaluate trades based on probabilities, selectively enter trades that have the highest odds of success, and avoid likely losing trades. The Rule of Thirds gives you confidence to hold trades based on prior trading ranges and provides clear levels where the prices are likely to either reverse or start trending.
The Probability Box Rule of Thirds automatically implements the first two steps of the Rule of Thirds by using the highest high and lowest low of a given lookback period to identify the support and resistance levels, and automatically divides the range into thirds. The rest of the Rule of Thirds rules remain the same.
Just having the price within the bottom thirds or top thirds, however, does not mean the price will immediately reverse. The GE chart below is an example of a stock that remained 'stuck' in the upper thirds of the price range for an extended amount of time:
And the CVS chart below is an example where the price is 'stuck' in the lower thirds of the price range:
While the price is in the upper or lower thirds, it is very important that the trader should use other indicators to identify when a significant trend reversal occurs. Once a trend reversal event happens, the trader either enters a trade AND/OR exits a trade if already in one.
When the price exceeds the bounds of the probability box, there are three possible outcomes – a strong continuation trend, the price consolidates around the probability box edge, or a trend reversal. Your favorite indicators will help determine which event is happening.
The CVS chart above is a good example of the probability box being exceeded with the last bar. The price exceeding the price range is temporary event as the price range will expand to encompass the revised price range on the next trading day.
█ Indicator Features
Each supported timeframe – Monthly, Weekly, and Daily – allows the selection of an appropriate lookback period for your trading style. The defaults are a good starting point for swing trading and long-term investing. You many need to experiment to find the optimal lookback period for your trading style.
Even if you only day trade, the Probability Box Rule of Thirds with the appropriate lookback periods can help you visualize the bigger picture of where the instrument is heading.
When viewing the charts, you can find the currently selected lookback period above the upper edge of the price range.
The indicator will display a dotted yellow line at 50% of the price range and show the line's value when requested.
The visibility of the actual thirds and border price values are controlled by the " Show Probability Box Values " checkbox. You may need to expand the chart's right margin to see the values.
The " Show Internal Labels " checkbox controls the display of the internal ⅓ Division labels and the percentage odds, along with the 50% label. This option by default is set to off.
The " Show Error Messages " checkbox controls the display of error messages and by default is turned on. Turn off to prevent error messages from being shown on intraday timeframes. Save as indicator default to prevent having to turn off this setting each time added to chart.
The color and transparency controls allow the user to modify the colors used for each third. The default settings are optimized for use with a DARK background.
█ Implementation Notes
IMPORTANT - the Probability Box Rule of Thirds is set up to only handle Monthly, Weekly and Daily charts. This is intentional as the indicator is designed to be used for safer multiple day and longer swing trades. When viewed on intraday charts, the indicator will be hidden.
The Probability Box Rule of Thirds uses a rolling window of the equivalent number of bars for the lookback period rather than relying on the bar starting and ending dates. This allows the use of a standard number of days in the selected lookback window across various instruments and ensures fast, efficient calculations.
The lookback periods are adjusted when non-standard timeframe multipliers are used – e.g., a 12M chart timeframe and a 3-year lookback period will result in a 3 bar lookback. Fractional bars in this calculation are rounded up and any incompatible lookback period and chart timeframe combination will generate a runtime error.
In summary, the Probability Box Rule of Thirds automates and visually identifies overbought and oversold areas, which combined with the Rule of Thirds probability risk profiles, increases your odds of success through better trade selections and higher confidence in your trades.
█ Disclaimer
There is substantial risk in trading. Losses incurred in trading can be significant. Only trade with money you can afford to lose. We make no claims whatsoever regarding the impact of past or future performance on your trading results.
[Trendycator] Trendycator Trend Following IndicatorThis script proposes a simple and intuitive trend following indicator, better usage on those assets which are sufficiently liquid and don't go through random spikes.
Since it is a trend-following system, it works well during trends only and his intent is to find a primary trend and ride it for as long as possible.
We know that the biggest problem is how to understand if asset is in trend or not: for this purpose, the intuitive colors explained hereafter help Traders to understand when asset is in non trend.
It will never enter on the minimum and will never exit on the maximum but will always try to identify the central part of the trend, maintaining the position until the forces supporting the rise of the stock fail.
Usage details
Color interpretation
Green color mean that asset is in a UP Trend.
Red color mean that asset is in a Down Trend.
Gray color mean that indicator is not able to find any clear trend.
Trendycator use stochastic oscillator, which establish the trend and his strength.
As additional filter as noise removal the stochastic oscillator is smoothened using simple moving average.
Trendycator use as well price swing recognition which identify significant high and significant low breakouts.
When stochastic find trend with strength and significant breakout change color: green for up trend and red for down trend.
This mix of trend-following indicator and breakout system is made to avoid, as much as possible, false signal generated from side movement.
Settings
Trendycator usually doesn’t need to set anything.
This because we believe that the user have to searching for the charts where it works well and never "overfitting" the system on a chart.
Overfitting never work as a long time and in the first step for loosing money.
In Tradingview we decide to let the possibilities to set two parameters: "Period_UP" and "Period_DN".
The reason is because this can be adjusted slightly for testing in intraday, but we recommend to manipulate as less as possible.
Period UP/DN meaning: Period_UP are the number of bars considered for swing high detection and Period_DN is the number of bar that Trendycator use for swing low detection.
Important usage note
Trendycator was born and tested in weekly timeframe and works in daily as well. Intraday charts, normally have high volatility that is the opposite of trend; weekly, or daily bars reduce the noise.
Trendycator is tested, and used, in Etf and stocks.
Trendycator is tested, and used, for long operation only.
Trendycator is not tested in different timeframe from what explained above, or chart type different from bars (eg. Renko or Heikin Ashi).
Trendycator is not tested in instrument different from what listed above: like future or Forex.
Trendycator is not tested for short operation. Normally short have very strong movement in less time that is different from trend following concept.
Entry/Exit recommended filters
Investor and traders are free to use and interpretate Trendycator as they feel more confortable but, we recommend to apply some filters on entry and exit.
As you can see in example, we use a trigger for enter in position (not plotted by this indicator).
The high of first green bar is the trigger level for entry: the long position will be in Buy Stop above this level.
The low of first red bar is the trigger level for exit: the long position will be exit in Stop after this level.
Use this trigger criteria is useful to avoid, once more, the false signal.
Conclusion
Trendycator do not provide any guarantees regarding your ability to obtain results or earn money with our ideas, information, tools or strategies.
Nothing on our content makes any promise or guarantee of future results or earnings.
You alone are responsible for your decisions, actions and results in life, and using our code you agree that you will not attempt to hold us responsible for your decisions, actions or results, at any time, under any circumstances.
Jesse Livermore Strategy [Buy & Sell]Jesse Livermore was a famous trader who made a fortune in the early 20th century through his unique approach to trading.
While he did not leave behind a single, specific trading strategy that is attributed to him, I have tried to reproduce one.
His trading strategy was based on understanding market trends and sentiment, and he used several technical indicators to identify potential entry and exit points.
Some of the indicators he used include:
Price Action:
Jesse Livermore relied heavily on price action to make trading decisions.
He believed that the price itself was the best indicator of market sentiment, and that by analyzing the price movement, he could identify trends and market behavior.
Volume:
Livermore also used volume to confirm price movements.
He believed that a rise in volume along with a price increase indicated a strong bullish trend, while a decrease in volume with a price increase indicated a weak trend.
Pivot Points:
Another key component of Jesse Livermore's trading strategy was pivot points.
He used pivot points to identify potential support and resistance levels in the market, which he then used to identify potential entry and exit points.
Jesse Livermore outlined a simple trading system: wait for pivotal points before entering a trade.
When the points come into play, trade them using a buffer, trading in the direction of the overall market.
Let the price dictate your actions and stay with profitable trades until there is good reason to exit the trade.
The one I have tried to reproduce it's based on Pivot High and Low looking back 5 Days, and the average price oscillator.
When the price is bellow the support defined line it's time to Buy ( Long Position ), when the Price line is over the Resistance Line it's time to Sell ( Short Position )
This indicator has to be checked, and tried into a Real-Time context, so using the Replay functionality of TradingView is the best way to see and understand how Signals comes
(NB: look back into the chart without Replay should give you wrong Buy/Sell information)
The Indicator can be used on every TimeFrames, but the better ones are 5min - 15min.
I will add the possibility to choose the TimeFrames value for Pivot High and Low.
I will create a version with Alerts for Buy and Sell and the possibility to integrate it with "3commas Bot" where the best deal can be to set a TP to 1% for each Long or Short Entry.
Let's try it and comment for doubts or questions.
Weis Wave With Speed Index SignalsWeis Wave with Speed Index Signals
The Concept
This indicator has been created to try to quantify "Change in Behavior" concept and provide buy and sell based on this concept. What is Change in Behavior? Price is moving at speed rate based on the trading volume direction (buyers and sellers) until there is imbalance of Supply/Demand. An algorithm has been created to identify this change of Supply/Demand behavior producing a number called "Speed Index". Abnormal Speed Index notes this change in behavior when compared with previous Speed Index numbers of the same pair and in the same timeframe. Speed Index is a relevant number and it's use is to be compared with previous Speed Index numbers and not as an absolute number. Based on Speed Index Behavior of recent waves, price and price wave structure buy and sell signals are available called Plutus.
What it does
This indicator draws a waveline of price waves swings. Up swing is when price goes up and down swing is when price goes down. It adds the volume of each bar within the wave swing, it measures the distance in pips of each swing and measure the numbers of bars of each swing. Furthermore, it creates the Speed Index of each swing, the average Speed Index of x selectable wave swings back as well as the average of Speed Index of the x up swings back and the average of the down swing. The indicator is also able to designate a Fast wave which means large pip move with small volume with the letter "F" displayed next to Speed Index and a Slow wave which small pip move with small volume with the letter "S". Finally based on price, Speed Index history and structure it creates eight buy/sell signals called Plutus.
Information available for display all selectable
For each wave swing: Total Volume, Pip Distance, Number of Bars or Total Volume + Pips or Total Volume + Pip Distance+Total Number of Bars
For each wave swing: Speed Index or Total Volume + Speed Index or Speed Index + Average Speed Index or Speed Index+(F or S).
Plutus buy and sell signals when criteria of price location, speed index comparison (abnormal speed index) and wave price structure have been met.
How it does it
This indicator draws a wave-line of price waves swings. Wave Sensitivity can be adjusted by AutoSensitivity parameter (min value =2 and max value=11). The larger the number the more sensitive it is, which means more wave swings will be created. All calculations are based on each wave swing. The code calculates all the above mentioned on the "Information available for Display" section. Based on price, Speed Index history, Speed Index ratio and structure Plutus buy and sell signals are created. The default value of Speed Index ratio is 2. Decreasing Speed Index ratio will create more signals while increasing it will create less signals.
Note: last wave re-paints and no information is displayed on the forming wave, but the whole trading methodology is based on reading previous waves information.
Technical Information
Speed Index
High Speed Index number means a slow wave "S" = Abnormal Speed (high volume small pip move)
Low Speed Index number means a fast wave "F" =Anormal Speed (small volume large pip move)
Normal Speed Index number (are the more frequent numbers seen in the chart which means that the market agrees with the move).
Plutus Signals
PL - Plutus Long, this is when the price will follow in the same direction of the wave with the High Speed Index. When signal is generated we enter when price close breaks the previous two wave structure Resistance Level
PS - Plutus Short, same as above, this is when the price will follow in the same direction of the wave with the High Speed Index. When signal is generated, we enter when price close breaks the previous two wave structure Support Level
PRL - Plutus Reversal Long, this is when the price will go in the opposite direction of the wave with the High Speed Index.
PRS - Plutus Reversal Short, same as above, this is when the price will go in the opposite direction of the wave with the High Speed Index.
PFL - Plutus Fake Long, this when price will do a fast break of the previous down swing bottom and then comes back within the previous swing range (fake break)
PFL - Plutus Fake Short, this when price will do a fast break of the previous up swing top and then comes back within the previous swing range (fake break)
WU - Wyckoff Upthrust plutus (short signal)- this is when the last two swings resemble(are) Wyckoff's UpThrust pattern price swings. This resemblance together with Speed Index criteria and price break of structure create this signal.
WS - Wyckoff Spring plutus(long signal)- this is when the last two swings resemble(are) Wyckoff's pattern price swings. This resemblance together with Speed Index criteria and price break of structure create this signal.
How to use it
Draw Support/Resistance and Fib - usually supply and demand imbalance happens at his level
First and most important of all adjust AutoSesnsitivity to get your swings correct, meaning that are catching the tops and bottoms of each price wave swing.
Monitor Speed Index behavior. Be alerted from Abnormal Speed Index number. You can also set using the Extreme Threshold parameter that provide you an alert if the current Speed Index is above or below average Speed Index of x waves back and also meets the min and max bar criteria. For example if we would like to be alerted for a an Abnormal Speed Index of a Slow wave of at 3 bars then we have set the Min Slow Bar parameter to 3, the Extreme Threshold parameter to 0.5 (50%) and the Avg Waves back to 8 then an alert will be produced if the wave before the forming has at least 3 bars and the Speed Index of the wave is 50% higher than the Average Speed Index calculated from 8 waves back. For a Fast wave we can set the Min Fast Bars to 1, Extreme Threshold to 50% and Avg Waves back to 8 which means that we will get an alert if the wave before the forming one has at least 1 bar and it's Speed Index is at least 50% less than the Speed Index Average of 8 waves back.
Plutus signals provide buy and sell entries after specific criteria have been met. These signals have a higher success rate when price is exiting a range or when price is leaving from Support/Resistance or Fib. Consider Plutus signals invalid within a range unless is the exit of the range (Range Break)
What makes it unique
The ability to identify, quantify and be alerted of the Change in Behavior of waves swings when compared with recent previous wave swings making it easier for the trader to be notified about Supply / Demand imbalance. Furthermore, another unique point of this indicator is the Plutus signals providing buy and sell entries. Plutus entries take into consideration this Abnormal Behavior, the wave swings structure and price location.
Example Trades
Wyckoff Up- rust formation strategy- Reading the chart
1. We have broken a Resistance Level with a Fast Speed Index of 0.7F
2. Abnormal Speed Index of 2.3 provides the alert for abnormal Speed Index behavior. There is not a high Speed Index like that in all the up wave swings which automatic makes it abnormal Supply Demand imbalance.
3. WU - Wyckoff Up-trust plutus signal has been created, which means Short.
4. PRS - Plutus Reversal Short also created at the same location which makes the Short even a higher probability trade
5. Entry: We enter Short on the close of the bar
Exit from Range Strategy - Reading the chart
1. We are in a Ranging environment
2. PS and PRS are invalid signals because according to the rules mentioned previously we do not trade any signals created within the range when the price does not break the range.
3. PRL - Plutus Reversal Long which means that price will move in the opposite direction of the High Speed Index (the 2.2) is a valid signal since price breaks the top of the range
4. Entry Long after breaking the top of the range
PRL after Support hit Strategy and Exit from Range Strategy - Reading the chart
In this we have two different strategies available. The first one is Plutus Reversal Long signal after hitting support and the second on an Exit from Range.
The Story:
1. We have hit support (double bottom)
2. Speed Index 2.2 at the bottom is on the High side, not too extreme but on the high side.
3. A PRL long signal is generated which means that price will move in the opposite direction of the 2.2 Speed Index
4. Entry Long on the close of the bar- This trade has provided 482 pips of profit
5. Price goes into Range
6. Classic textbook strategy Exit from Range with Plutus. We get a PL Plutus Long signal which means price will follow the directions of the high Speed Index wave and in this case is the 2.7 wave
7. Entry Long after the range break. This trade provided 384 pips up to now.
Alex's Dikfat Velocity 2hr CCI Color SignalerAlex's Dikfat Velocity 2hr CCI Color Signaler
As most traders have experienced at one time or another, over bought and oversold readings are relative in nature and do not always work as a standalone reading.
Momentum indicators such as the Commodity Channel Index ( CCI ) have to be understood and read correctly to determine the value in a momentum reading.
When an asset is "Overbought" or "Oversold" the reading can remain in this region Irrationally for extended periods as the market remains in irrational trend.
In order to better understand this and other readings on a momentum indicator clues such as divergence, exhaustion, continuation, time and frequency as well as the actual velocity of the movement must be measured. In addition, there are very specific measurement lines on the CCI that must be read and that can reject or break and result in the asset either loosing or gaining momentum in one direction or the other. These are the dashed lines in the background.
For the purposes of this Indicator, the actual function, characterization and use of CCI will not be explained here as the colored indications themselves will do all the work for you.
It is very important to know that the calculations used to signal the color filling ARE NOT based on simple breaks of the dashed background lines as traditionally read with a CCI indicator.
The calculations used in this Indicator are based on a very fine tuned mathematical algorithm that measure an unseen element within the CCI . When the VELOCITY of a move in momentum is met, the color fills will begin. When the VELOCITY of the move changes, so to will colorization. This has led to some of the best High Probability Long and Short Sale signaling in any CCI indicator. Pairing this with your favorite chart indicators and personal analysis will result in high tradability but can also be used stand alone.
Remember: No one single indicator should ever be used to determine market signaling.
A basic understanding of a CCI indicator is recommended before using this indicator.
This indicator and the proprietary calculations used were built and meant to be used on the 2 Hour Timeframe. The indicator is open to all time frames and accuracy increases as the time frame increases.
It is recommended that if you use this indicator on a lower timeframe, to pull CCI readings from a higher Timeframe as found in the settings.
This indicator signals long and short opportunities. High Probability long and short trades, bullish and bearish divergence building, market time traps and bullish / bearish continuation as well as exhaustion of these moves.
There is also a companion indicator which will signal the High Probability Long and Short trades on the candle chart called "Alex's Dikfat CCI Equity Signaler" Which will place white Triangles on the candle chart showing high probability long entries and Orange Triangles for High Probability short entries. These are also built into the CCI line and can be turned on in this indicator.
Color Code:
Bullish Continuation: (Background Color Black)
The function of the black background colorization is to alert the user that a bullish move has begun and is currently in a strong continuation period. the longer the black background color draws, the more sustained or trending up the current move is. When these background lines begin to break and start to appear as more frequent broken background lines, exhaustion in the move can be assumed. When the black stops drawing all together, the strength of the continuation move is gone.
Bearish Continuation: (Background Color Fuchsia)
The function of the fuchsia background colorization is to alert the user that a bearish move has begun and is currently in a strong continuation period. the longer the fuchsia background color draws, the more sustained or trending down the current move is. When these background lines begin to break and start to appear as more frequent broken background lines, exhaustion in the move can be assumed. When the fuchsia stops drawing all together, the strength of the continuation move is gone.
High Probability Long/Short:
These buy and sell opportunities were designed to give a trader the best signal/entry on a Long or a Short with the highest probability of making a large and typically sustained impulse move.
High Probability Long: (White Color Fill)
The High Probability Long is a signal to BUY with the best possible entry on an a pending large impulse move to the upside. When White begins to fill, The long is extremely likely. The signal is confirmed on the close of the following candle after white begins to draw unless an opposing color immediately follows, or white dips below the zero line. White will always usually start just below the zero line in the highest probability scenarios.
High Probability Short: (Orange Color Fill)
The High Probability Short is a signal to SELL SHORT with the best possible entry on a pending large impulse move to the downside. When Orange begins to fill, The Short is extremely likely. The signal is confirmed on the close of the following candle after orange begins to draw unless an opposing color immediately follows. Some of the best entries for Orange are when it starts at the END of a black stripe in the background and better so when Orange dips below zero for entry. The signal was designed to color early enough to get in a short during consolidation before the move.
Long and Short Opportunities: Long and Short opportunities are just as they sound. Coloring will signal green for a long opportunity and red for a short opportunity. These opportunities are not always guaranteed and usually result in an lesser impulse move in one direction with a shorter duration.
Long Opportunity: (Green)
The Long Opportunity is a signal that a Long is possible however with less likely odds of a larger more sustained move. When Green begins to fill, a long opportunity is available. The signal is confirmed on the close of the following candle after green begins to draw unless an opposing color immediately follows, or green dips below the zero line. Green will always usually start just above the zero line and have the best opportunities at the end of Bullish Divergence (Blue) at the end of Bearish Continuation (Fuchsia) or a non filled CCI .
Short Opportunity: (Red)
The Short Opportunity is a signal that a Short is possible however with less likely odds of a larger more sustained move. When Red begins to fill, a short opportunity is available. The signal is confirmed on the close of the following candle after red begins to draw unless an opposing color immediately follows. Some of the best entries for Red are when it starts at the END of a black stripe in the background (higher odds than other red signaling). The signal was designed to color early enough to get in a short during consolidation before the move and better so if orange develops after red.
Bullish Divergence: (Dark Blue)
Dark Blue colors when Bullish Divergence is detected. Bullish divergence is a signal that momentum is building higher within the asset for an up move while price action in the candle chart makes lower lows. Bullish Divergence is not a signal to buy or sell but rather a sign post to say WAIT. Bullish divergence is building and a Long is coming. Some traders will buy bullish divergence in anticipation of a move and is only equitable if you have the cash and resolve to follow it through for as long as it is developing. Buying or selling divergence right away is not always the best practice unless a hard dip below all momentum lines followed by an immediate buy signal from white or green resulting in a drop base rally.
Bearish Divergence: (Dark Maroon)
Dark Maroon colors when Bearish Divergence is detected. Bearish divergence is a signal that momentum is dropping out of the asset for a move lower while price action in the candle chart makes higher highs. Bearish Divergence is not a signal to buy or sell but rather a sign post to say WAIT. Bearish divergence is building and a Short is coming. Some traders will sell bearish divergence in anticipation of a move and is only equitable if you have the cash and resolve to follow it through for as long as it is developing. Buying or selling divergence right away is not always the best practice unless a hard rip above all momentum lines followed by an immediate sell signal from red or orange resulting in a rally base drop.
No Color Fill:
When CCI has no color fill whatsoever it is telling the trader there are no high velocity movements in momentum in any direction. Best practice is to do nothing and wait out the Time Trap currently on the chart until signaling develops.
Time and Frequency:
Time and frequency is notable throughout the indicator. First and foremost when CCI is not being filled it is best practice to do nothing as there is NO Velocity of Movement within the asset at that time. This is one of the most obvious of Time Traps.
Bullish and Bearish Divergence is also a type of Time Trap. The longer these develop, the more weak hands are shaken out of the market and derivatives traders have their premium burned. Best practice with divergences is also to wait until adequate signaling develops, or be willing to buy or sell the appropriate divergence by accumulating or distributing for as long as it develops; or simply to buy/sell and hold for the move.
Any Sustained color for extended periods of time is also a time trap signaling to the trader that the asset is being irrational in its present move.
Bullish and Bearish Continuation:
These also deal with time and frequency most importantly. When we are on a sustained Bull Run, black will color in the background continuously. When the black starts to barcode or break up, exhaustion of the bull run is assumed as the frequency of the run becomes erratic. Inversely, When we are on a sustained Bear Run, fuchsia will color in the background continuously. When the fuchsia starts to barcode or break up, exhaustion of the bear run is assumed as the frequency of the run becomes erratic.
The color scheme is designed to be read from darkest to lightest when a sequence of events is found. I.E Dark Maroon>Red>Orange or Inversely Dark Blue>Green>White
In keeping with the best practices and traditions of TradingView, we have published this as a public script with the best intentions of aiding the TradingView community in unique and valuable ways. While some of our best indicators are by invite only, we feel an addition to the community of this magnitude will add to the fabric and substance of community.
Multi-Panel: Trade-Volatility-Probability [Loxx]Multi-Panel: Trade-Volatility-Probability shows user selected and volatility-based price levels and probabilities on the chart. This is useful for both options and all styles of up/down trading methods that rely on volatility.
Trading Panel: Shows trading information to take profits and stop-loss based on multiples of volatility. Also shows equity inputs by the user to calculate optimal position size
Key things to note about the Trading Panel
-Trade side: Long or short. you change this this to change the take profit and SL levels in displayed on the table to be used w/ up/down trading styles that rely on volatility stops
-Account size: User enters total balance available for trade
-Risk: Total % of account size you're willing to lose should the SL be hit
-Position size: Size of the position given the SL and your preferred Risk
-Take profit/Stop loss levels: Based on multipliers selected by the user in settings. These shouldn't be changed unless you really know what you're doing with volatility stops
-Entry: Source price. can be 1 of 37 different prices. See Loxx's Expanded Source Types:
Volatility Panel: Shows information about the volatility the user selected to be used to take profit/stop-loss/range calculations. Volatility types included are:
Close-to-Close
Close-to-Close volatility is a classic and most commonly used volatility measure, sometimes referred to as historical volatility .
Volatility is an indicator of the speed of a stock price change. A stock with high volatility is one where the price changes rapidly and with a bigger amplitude. The more volatile a stock is, the riskier it is.
Close-to-close historical volatility calculated using only stock's closing prices. It is the simplest volatility estimator. But in many cases, it is not precise enough. Stock prices could jump considerably during a trading session, and return to the open value at the end. That means that a big amount of price information is not taken into account by close-to-close volatility .
Despite its drawbacks, Close-to-Close volatility is still useful in cases where the instrument doesn't have intraday prices. For example, mutual funds calculate their net asset values daily or weekly, and thus their prices are not suitable for more sophisticated volatility estimators.
Parkinson
Parkinson volatility is a volatility measure that uses the stock’s high and low price of the day.
The main difference between regular volatility and Parkinson volatility is that the latter uses high and low prices for a day, rather than only the closing price. That is useful as close to close prices could show little difference while large price movements could have happened during the day. Thus Parkinson's volatility is considered to be more precise and requires less data for calculation than the close-close volatility.
One drawback of this estimator is that it doesn't take into account price movements after market close. Hence it systematically undervalues volatility. That drawback is taken into account in the Garman-Klass's volatility estimator.
Garman-Klass
Garman Klass is a volatility estimator that incorporates open, low, high, and close prices of a security.
Garman-Klass volatility extends Parkinson's volatility by taking into account the opening and closing price. As markets are most active during the opening and closing of a trading session, it makes volatility estimation more accurate.
Garman and Klass also assumed that the process of price change is a process of continuous diffusion (geometric Brownian motion). However, this assumption has several drawbacks. The method is not robust for opening jumps in price and trend movements.
Despite its drawbacks, the Garman-Klass estimator is still more effective than the basic formula since it takes into account not only the price at the beginning and end of the time interval but also intraday price extremums.
Researchers Rogers and Satchel have proposed a more efficient method for assessing historical volatility that takes into account price trends. See Rogers-Satchell Volatility for more detail.
Rogers-Satchell
Rogers-Satchell is an estimator for measuring the volatility of securities with an average return not equal to zero.
Unlike Parkinson and Garman-Klass estimators, Rogers-Satchell incorporates drift term (mean return not equal to zero). As a result, it provides a better volatility estimation when the underlying is trending.
The main disadvantage of this method is that it does not take into account price movements between trading sessions. It means an underestimation of volatility since price jumps periodically occur in the market precisely at the moments between sessions.
A more comprehensive estimator that also considers the gaps between sessions was developed based on the Rogers-Satchel formula in the 2000s by Yang-Zhang. See Yang Zhang Volatility for more detail.
Yang-Zhang
Yang Zhang is a historical volatility estimator that handles both opening jumps and the drift and has a minimum estimation error.
We can think of the Yang-Zhang volatility as the combination of the overnight (close-to-open volatility ) and a weighted average of the Rogers-Satchell volatility and the day’s open-to-close volatility . It considered being 14 times more efficient than the close-to-close estimator.
Garman-Klass-Yang-Zhang
Garman Klass is a volatility estimator that incorporates open, low, high, and close prices of a security.
Garman-Klass volatility extends Parkinson's volatility by taking into account the opening and closing price. As markets are most active during the opening and closing of a trading session, it makes volatility estimation more accurate.
Garman and Klass also assumed that the process of price change is a process of continuous diffusion (geometric Brownian motion). However, this assumption has several drawbacks. The method is not robust for opening jumps in price and trend movements.
Despite its drawbacks, the Garman-Klass estimator is still more effective than the basic formula since it takes into account not only the price at the beginning and end of the time interval but also intraday price extremums.
Researchers Rogers and Satchel have proposed a more efficient method for assessing historical volatility that takes into account price trends. See Rogers-Satchell Volatility for more detail.
Exponential Weighted Moving Average
The Exponentially Weighted Moving Average (EWMA) is a quantitative or statistical measure used to model or describe a time series. The EWMA is widely used in finance, the main applications being technical analysis and volatility modeling.
The moving average is designed as such that older observations are given lower weights. The weights fall exponentially as the data point gets older – hence the name exponentially weighted.
The only decision a user of the EWMA must make is the parameter lambda. The parameter decides how important the current observation is in the calculation of the EWMA. The higher the value of lambda, the more closely the EWMA tracks the original time series.
Standard Deviation of Log Returns
This is the simplest calculation of volatility . It's the standard deviation of ln(close/close(1))
Pseudo GARCH(2,2)
This is calculated using a short- and long-run mean of variance multiplied by θ.
θavg(var ;M) + (1 − θ) avg (var ;N) = 2θvar/(M+1-(M-1)L) + 2(1-θ)var/(M+1-(M-1)L)
Solving for θ can be done by minimizing the mean squared error of estimation; that is, regressing L^-1var - avg (var; N) against avg (var; M) - avg (var; N) and using the resulting beta estimate as θ.
Average True Range
The average true range (ATR) is a technical analysis indicator, introduced by market technician J. Welles Wilder Jr. in his book New Concepts in Technical Trading Systems, that measures market volatility by decomposing the entire range of an asset price for that period.
The true range indicator is taken as the greatest of the following: current high less the current low; the absolute value of the current high less the previous close; and the absolute value of the current low less the previous close. The ATR is then a moving average, generally using 14 days, of the true ranges.
True Range Double
A special case of ATR that attempts to correct for volatility skew.
Chi-squared Confidence Interval:
Confidence interval of volatility is calculated using an inverse CDF of a Chi-Squared Distribution. You can change the volatility input used to either realized, upper confidence interval, or lower confidence interval. This is included in case you'd like to see how far price can extend if volatility hits it's upper or lower confidence levels. Generally, you'd just used realized volatility, so I wouldn't change this setting.
Inverse CDF of a Chi-Squared Distribution
The chi-square distribution is a one-parameter family of curves. The parameter ν is the degrees of freedom.
The icdf of the chi-square distribution is
x=F^−1(p∣ν) = {x:F(x∣ν) = p}
where
p=F(x∣ν)= ∫ (t^(v-2)/2 * e^t/2) / (2^(v/2) / Γ(v/2))
ν is the degrees of freedom, and Γ( · ) is the Gamma function. The result p is the probability that a single observation from the chi-square distribution with ν degrees of freedom falls in the interval .
Additional notes on Volatility Panel
-Shows both current timeframe volatility per candle at whatever date backward you select
-Shows annualized volatility basaed on selected days per year and per bar volatility; this is automaitcally caulculated no matter the timeframe used. This means that it'll calculate annualized volatility for the current candle even on the 1 second timeframe. Days per year should be 252 for everything but cryptocurrency; however, for all types of tradable assets, anything over the 3 day timeframe will calculate on 365 days.
Probability Panel
This panel shows the probability levels of a user selected upper and lower price boundary. This includes the inside range of volatility between the lower and upper price levels and the outside probability below the lower price level and above the upper price level. These values are calculated using the CDF (cumulative density function) of a normal distribution. In simpler terms, CDF returns area under a bell curve between two points left and right, or for our purposes, high and low. This yeilds the probabilities you see in the Probability Panel. See the following graphic to visualize how this works:
The red line is the entry bar; the yellow line is the "mean" but in this case just the chosen source price.
Other things to know
You can turn on/off all labels and levels and fills
Smart Money Concepts (SMC) [LuxAlgo]This all-in-one indicator displays real-time market structure (internal & swing BOS / CHoCH), order blocks, premium & discount zones, equal highs & lows, and much more...allowing traders to automatically mark up their charts with widely used price action methodologies. Following the release of our Fair Value Gap script, we received numerous requests from our community to release more features in the same category.
"Smart Money Concepts" (SMC) is a fairly new yet widely used term amongst price action traders looking to more accurately navigate liquidity & find more optimal points of interest in the market. Trying to determine where institutional market participants have orders placed (buy or sell side liquidity) can be a very reasonable approach to finding more practical entries & exits based on price action.
The indicator includes alerts for the presence of swing structures and many other relevant conditions.
Features
This indicator includes many features relevant to SMC, these are highlighted below:
Full internal & swing market structure labeling in real-time
Break of Structure (BOS)
Change of Character (CHoCH)
Order Blocks (bullish & bearish)
Equal Highs & Lows
Fair Value Gap Detection
Previous Highs & Lows
Premium & Discount Zones as a range
Options to style the indicator to more easily display these concepts
Settings
Mode: Allows the user to select Historical (default) or Present, which displays only recent data on the chart.
Style: Allows the user to select different styling for the entire indicator between Colored (default) and Monochrome.
Color Candles: Plots candles based on the internal & swing structures from within the indicator on the chart.
Internal Structure: Displays the internal structure labels & dashed lines to represent them. (BOS & CHoCH).
Confluence Filter: Filter non-significant internal structure breakouts.
Swing Structure: Displays the swing structure labels & solid lines on the chart (larger BOS & CHoCH labels).
Swing Points: Displays swing points labels on chart such as HH, HL, LH, LL.
Internal Order Blocks: Enables Internal Order Blocks & allows the user to select how many most recent Internal Order Blocks appear on the chart.
Swing Order Blocks: Enables Swing Order Blocks & allows the user to select how many most recent Swing Order Blocks appear on the chart.
Equal Highs & Lows: Displays EQH/EQL labels on chart for detecting equal highs & lows.
Bars Confirmation: Allows the user to select how many bars are needed to confirm an EQH/EQL symbol on chart.
Fair Value Gaps: Displays boxes to highlight imbalance areas on the chart.
Auto Threshold: Filter out non-significant fair value gaps.
Timeframe: Allows the user to select the timeframe for the Fair Value Gap detection.
Extend FVG: Allows the user to choose how many bars to extend the Fair Value Gap boxes on the chart.
Highs & Lows MTF: Allows the user to display previous highs & lows from daily, weekly, & monthly timeframes as significant levels.
Premium/Discount Zones: Allows the user to display Premium, Discount, and Equilibrium zones on the chart
Usage
Users can see automatic CHoCH and BOS labels to highlight breakouts of market structure, which allows to determine the market trend. In the chart below we can see the internal structure which displays more frequent labels within larger structures. We can also see equal highs & lows (EQH/EQL) labels plotted alongside the internal structure to frequently give indications of potential reversals.
In the chart below we can see the swing market structure labels. These are also labeled as BOS and CHoCH but with a solid line & larger text to show larger market structure breakouts & trend reversals. Users can be mindful of these larger structure labels while trading internal structures as displayed in the previous chart.
Order blocks highlight areas where institutional market participants open positions, one can use order blocks to determine confirmation entries or potential targets as we can expect there is a large amount of liquidity at these order blocks. In the chart below we can see 2 potential trade setups with confirmation entries. The path outlined in red would be a potential short entry targeting the blue order block below, and the path outlined in green would be a potential long entry, targeting the red order blocks above.
As we can see in the chart below, the bullish confirmation entry played out in this scenario with the green path outlined in hindsight. As price breaks though the order blocks above, the indicator will consider them mitigated causing them to disappear, and as per the logic of these order blocks they will always display 5 (by default) on the chart so we can now see more actionable levels.
The Smart Money Concepts indicator has many other features and here we can see how they can also help a user find potential levels for price action trading. In the screenshot below we can see a trade setup using the Previous Monthly High, Strong High, and a Swing Order Block as a stop loss. Accompanied by the Premium from the Discount/Premium zones feature being used as a potential entry. A potential take profit level for this trade setup that a user could easily identify would be the 50% mark labeled with the Fair Value Gap & the Equilibrium all displayed automatically by the indicator.
Conclusion
This indicator highlights all relevant components of Smart Money Concepts which can be a very useful interpretation of market structure, liquidity, & more simply put, price action. The term was coined & popularized primarily within the forex community & by ICT while making its way to become a part of many traders' analysis. These concepts, with or without this indicator do not guarantee a trader to be trading within the presence of institutional or "bank-level" liquidity, there is no supporting data regarding the validity of these teachings.
Price based ATR%This script shows upto two lines that represent a deviation from the price based on a multiple of the ATR%
close + ( (close / 100) * ( atr * upperMultiplier) )
and
close - ( (close / 100) * ( atr * lowerMultiplier) )
Bitcoin Indicator CBitcoin Indicator C is the missing part of the whole picture. It must be used together with Bitcoin Indicator B for the best results possible!
Indicator B is to find the entry on the market sharp, while the new Indicator C will help you to find the zone where it's time to look for the entry. The dots do NOT represent the start nor the end of the trend, they only show the cross of the waves. Indicator C was created to see the bigger picture of the market. You will see 3 waves on the indicator. The white wave is the main indication of the trend, however all of them should be considered together. Think about it as a painting so just step back and watch the whole picture. If you see the waves topping and start to form a downtrend it's time to find your entry on Indicator B. Also when you see waves bottoming it's time to look for the entry of the Long trade.
When all of 3 waves moving together parallel from the top to the bottom that's a strong downtrend. Opposite occurs when there is a strong uptrend on the market.
These waves were created to show unique repeating patterns, too. For example: White wave bottoming while others keep painting on the upside of the zero line. Other example if repeating waves getting lower and lower... Learn more about unique patterns on our website!
MACD Indicator for 5 Min ScalpThis Indicator merges the 1 min MACD with BollingerBands to dedect a bigger than avarage tick on the Macd for the 5 min Scalping Strategy
You can change the length of the bollinger bands for the upper and lower channel individually so that you can get better signals
if a tick is bigger than avarage it will be colored, else it would be gray
this is the same indicator i used to get entrys in my 5 min scalping statagy, but i wouldnt just go in a trade when there is a bigger than usual tick. You have to look at other things to
[Mad]Trend BarcolorsTrend colors based on PSA and selectable Ma's.
classic PSAR trend mixed with 2 selectable MA's switching between Bullish Neutral Baerish
the switching logic is in colorlogic()
usage: colorswitch maybe one entry.
if you want to trade with a trend example: green yellow, green << entry (long)
if you want to trade against a trend example: green yellow red (entry short)
This is not an indicator that works on its own, it is a helper in a decision, never a single instrument is possible.
have fun
10 EMA StrategyThis indicator shows you:
- The first bullish candle to close below EMA 10
- The first bearish candle to close above EMA 10.
Optional:
You can enable the exit signals in the setting. This will show you:
- If you are long (bullish), it will signal when the first bullish candle closes below EMA 10
- If you are short (bearish), it will signal when the first bearish candle closes above EMA 10
You can also change the EMA 10, to another length, if you want to try something else.
Support and Resistance with MACD IndicatorOriginal script from ©akpaswaniitk. I just added MACD to filter out bad trades and alert function so that we get notified whenever indicator gives us an entry signal. Most of the false breakout has been removed but the remaining ones only pop up during consolidation, so it's wait for the retest before entry. Works better in continuous market. Also look at the color of EMA for further confirmation, only focus on buy side when EMA is green and sell when EMA is red or when after the buy signal EMA changes color from red to green. These are the highly profitable setups I've found with this indicator.
Signals
Red or Green solid line with diamond are trailing stoploses
dotted black line is entry level
dotted white line is optimal exit
