Mean Price
^^ Plotting switched to Line.
This method of financial time series (aka bars) downsampling is literally, naturally, and thankfully the best you can do in terms of maximizing info gain. You can finally chill and feed it to your studies & eyes, and probably use nothing else anymore.
(HL2 and occ3 also have use cases, but other aggregation methods? Not really, even if they do, the use cases are ‘very’ specific). Tho in order to understand why, you gotta read the following wall, or just believe me telling you, ‘I put it on my momma’.
The true story about trading volumes and why this is all a big misdirection
Actually, you don’t need to be a quant to get there. All you gotta do is stop blindly following other people’s contextual (at best) solutions, eg OC2 aggregation xD, and start using your own brain to figure things out.
Every individual trade (basically an imprint on 1D price space that emerges when market orders hit the order book) has several features like: price, time, volume, AND direction (Up if a market buy order hits the asks, Down if a market sell order hits the bids). Now, the last two features—volume and direction—can be effectively combined into one (by multiplying volume by 1 or -1), and this is probably how every order matching engine should output data. If we’re not considering size/direction, we’re leaving data behind. Moreover, trades aren’t just one-price dots all the time. One trade can consume liquidity on several levels of the order book, so a single trade can be several ticks big on the price axis.
You may think now that there are no zero-volume ticks. Well, yes and no. It depends on how you design an exchange and whether you allow intra-spread trades/mid-spread trades (now try to Google it). Intra-spread trades could happen if implemented when a matching engine receives both buy and sell orders at the same microsecond period. This way, you can match the orders with each other at a better price for both parties without even hitting the book and consuming liquidity. Also, if orders have different sizes, the remaining part of the bigger order can be sent to the order book. Basically, this type of trade can be treated as an OTC trade, having zero volume because we never actually hit the book—there’s no imprint. Another reason why it makes sense is when we think about volume as an impact or imbalance act, and how the medium (order book in our case) responds to it, providing information. OTC and mid-spread trades are not aggressive sells or buys; they’re neutral ticks, so to say. However huge they are, sometimes many blocks on NYSE, they don’t move the price because there’s no impact on the medium (again, which is the order book)—they’re not providing information.
... Now, we need to aggregate these trades into, let’s say, 1-hour bars (remember that a trade can have either positive or negative volume). We either don’t want to do it, or we don’t have this kind of information. What we can do is take already aggregated OHLC bars and extract all the info from them. Given the market is fractal, bars & trades gotta have the same set of features:
- Highest & lowest ticks (high & low) <- by price;
- First & last ticks (open & close) <- by time;
- Biggest and smallest ticks <- by volume.*
*e.g., in the array ,
2323: biggest trade,
-1212: smallest trade.
Now, in our world, somehow nobody started to care about the biggest and smallest trades and their inclusion in OHLC data, while this is actually natural. It’s the same way as it’s done with high & low and open & close: we choose the minimum and maximum value of a given feature/axis within the aggregation period.
So, we don’t have these 2 values: biggest and smallest ticks. The best we can do is infer them, and given the fact the biggest and smallest ticks can be located with the same probability everywhere, all we can do is predict them in the middle of the bar, both in time and price axes. That’s why you can see two HL2’s in each of the 3 formulas in the code.
So, summed up absolute volumes that you see in almost every trading platform are actually just a derivative metric, something that I call Type 2 time series in my own (proprietary ‘for now’) methods. It doesn’t have much to do with market orders hitting the non-uniform medium (aka order book); it’s more like a statistic. Still wanna use VWAP? Ok, but you gotta understand you’re weighting Type 1 (natural) time series by Type 2 (synthetic) ones.
How to combine all the data in the right way (khmm khhm ‘order’)
Now, since we have 6 values for each bar, let’s see what information we have about them, what we don’t have, and what we can do about it:
- Open and close: we got both when and where (time (order) and price);
- High and low: we got where, but we don’t know when;
- Biggest & smallest trades: we know shit, we infer it the way it was described before.'
By using the location of the close & open prices relative to the high & low prices, we can make educated guesses about whether high or low was made first in a given bar. It’s not perfect, but it’s ultimately all we can do—this is the very last bit of info we can extract from the data we have.
There are 2 methods for inferring volume delta (which I call simply volume) that are presented everywhere, even here on TradingView. Funny thing is, this is actually 2 parts of the 1 method. I wonder how many folks see through it xD. The same method can be used for both inferring volume delta AND making educated guesses whether high or low was made first.
Imagine and/or find the cases on your charts to understand faster:
* Close > open means we have an up bar and probably the volume is positive, and probably high was made later than low.
* Close < open means we have a down bar and probably the volume is negative, and probably low was made later than high.
Now that’s the point when you see that these 2 mentioned methods are actually parts of the 1 method:
If close = open, we still have another clue: distance from open/close pair to high (HC), and distance from open/close pair to low (LC):
* HC < LC, probably high was made later.
* HC > LC, probably low was made later.
And only if close = open and HC = LC, only in this case we have no clue whether high or low was made earlier within a bar. We simply don’t have any more information to even guess. This bar is called a neutral bar.
At this point, we have both time (order) and price info for each of our 6 values. Now, we have to solve another weighted average problem, and that’s it. We’ll weight prices according to the order we’ve guessed. In the neutral bar case, open has a weight of 1, close has a weight of 3, and both high and low have weights of 2 since we can’t infer which one was made first. In all cases, biggest and smallest ticks are modeled with HL2 and weighted like they’re located in the middle of the bar in a time sense.
P.S.: I’ve also included a "robust" method where all the bars are treated like neutral ones. I’ve used it before; obviously, it has lesser info gain -> works a bit worse.
在腳本中搜尋"imbalance"
Order blocksHi all!
This indicator will show you found order blocks that can be used as supply or demand. It's my take on trying to create good order blocks and I hope it makes sense.
First off I suggest to verify the current trend before using an order block. This can be done in a variety of ways, one way could be to use my other script "Market structure" () which I use and suggest.
You can configure the indicator to behave differently depending on settings. These are the settings available:
• The order blocks created can be found in any higher timeframe defined in "Timeframe"
• The number of active order blocks are defined in "Count". If an order block is found the earliest order block will be replaced
• You can choose the type of order blocks that are found ("Bullish", "Bearish " or "Both") in "Type"
• The old order blocks can be kept if "Keep history" is checked
• Order blocks that are found are not removed when mitigated (entered) but when a new one appears. They can be removed when they are broken by price if "Remove broken zones" are checked
There is also a setting section called "Requirements" that defines what is required for an order block to be created. These are the settings:
• "Take out"
Check this if you want the base of the order block (the candle where the zone is drawn from (high and low)) to have to take out the previous candle (be higher or lower depending if the order block is bullish or bearish).
• "Consecutive rising/falling"
Each following candle in the reaction (the 3 reaction candles) needs to reach higher or lower (depending on bullish or bearish). Check this if you want that to be true.
• "Reaction"
Some sort of reaction is needed from the 3 candles creating the order block. This reaction is based on the value of the Average True Length (ATR) of length 14. You can here define a factor of the value from the ATR that these 3 candles needs to move in price. A higher need for a reaction (higher factor of the ATR) will create lesser zones. You can also choose to show this limit with the checkbox.
• "Fair Value Gap"
The reaction needs to create a gap (imbalance) in price. This gap is known as a "Fair Value Gap" and is created when the last candle's wick does not meet with the base candle's wick. Check this if you want this to be needed.
After these settings you can also choose the colors of the created zones. The ones that are active (called "Zones"), the ones that are replaced ("Replaced zones") and the ones that are broken ("Broken zones") (if this is enabled in "Remove broken zones").
I'm using my library "Touched" to be able to show you labels when the order blocks have a retest, false breakout and breakout. These labels can be hidden if you disable the labels under the style tab in the indicator settings.
The concept of order blocks is widely used among traders and can provide you with good supply or demand zones. I hope that this indicator makes sense.
My todo-list has a few things, but top of that list is adding alerts for zone interactions or creations. Please feel free to say what you want to be coded!
The order blocks in the publication chart are found in weekly timeframe but are shown on the daily timeframe. Other than that the image shows you zones from the default settings (which are based on the daily timeframe).
Best of luck trading!
Implied Fair Value Gap (IFVG) ICT [TradingFinder] Hidden FVG OTE🔵 Introduction
The Implied Fair Value Gap (IFVG) is distinctive due to its unique three-candlestick formation, which differentiates it from conventional Fair Value Gaps.
Implied fair value represents an estimated worth of an asset—often a business or its goodwill—based on the price likely to be received in a structured transaction between market participants at a specific point in time.
In the ever-evolving world of technical analysis, pinpointing price reversal points and market anomalies can significantly enhance trading strategies and decision-making for traders and investors. Among the advanced concepts gaining traction in this field is the Implied Fair Value Gap (IFVG), introduced by the renowned analyst Inner Circle Trader (ICT).
This tool has proven to be an effective method for identifying hidden supply and demand zones in financial markets, offering a unique edge to traders looking for high-probability setups.
Unlike traditional gaps that are visible on price charts, IFVG is a hidden gap that doesn’t appear explicitly on the chart and thus requires specialized technical analysis tools for accurate identification.
This hidden gap can signal potential price reversals and offers traders insight into high-liquidity areas where price is likely to react. This article will guide you through using the ICT Implied Fair Value Gap Indicator effectively, covering its settings, usage strategies, and key features to help you make informed decisions in the market.
🟣 Bullish Implied FVG
🟣 Bearish Implied FVG
🔵 How to Use
The IFVG indicator is designed to assist traders in recognizing hidden support and resistance zones by identifying Bullish and Bearish IFVG patterns. With this tool, traders can make better-informed decisions about suitable entry and exit points for their trades based on these patterns.
🟣 Bullish Implied Fair Value Gap
This pattern occurs in an uptrend when a large bullish candlestick forms, with the wicks of the previous and following candles overlapping the body of the central candlestick.
This overlap creates a demand zone or a hidden support level, which can act as an ideal entry point for buy trades. Often, when the price returns to this area, it is likely to resume its upward trend, presenting a profitable buying opportunity.
🟣 Bearish Implied Fair Value Gap
This pattern is similar but forms in downtrends. Here, a large bearish candlestick appears on the chart, with the wicks of adjacent candles overlapping its body. This overlap defines a supply zone or a hidden resistance level and serves as a signal for potential sell trades.
When the price returns to this zone, it often continues its downward trend, providing an optimal point for entering sell trades.
The IFVG indicator also includes various filters that traders can use to refine their analysis based on market conditions. These filters, including Very Aggressive, Aggressive, Defensive, and Very Defensive, allow users to customize the IFVG zones' width, offering flexibility according to the trader’s risk tolerance and trading style.
🟣 Example Trading Scenarios
Suppose you’re in a strong uptrend and the IFVG indicator identifies a Bullish IFVG zone. In this scenario, you could consider entering a buy trade when the price retraces to this zone, expecting the uptrend to resume. Conversely, in a downtrend, a Bearish IFVG zone can signal a favorable entry point for short trades when the price revisits this area.
🔵 Settings
Implied Block Validity Period: This parameter specifies the validity period of each identified block, taking into account the number of bars that have passed since its formation. Proper adjustment of this period helps traders focus only on relevant zones, increasing the accuracy of the analysis.
Mitigation Level OB : This option defines the mitigation level for supply and demand blocks (Order Blocks), with settings including Proximal, 50% OB, and Distal.
Depending on the selected level, the indicator will focus on closer, mid-range, or farther points for block identification, allowing traders to adjust for the level of precision required.
Implied Filter : Activating this filter allows traders to apply conditions based on the width of the IFVG zones. With options like Very Aggressive and Very Defensive, traders can control the width of IFVG zones to suit their risk management strategy—whether they prefer high-risk setups or low-risk setups.
Display and Color Settings : This section enables users to customize the appearance of the IFVG zones on their charts. Traders can set different colors for Bullish and Bearish zones, allowing for easier distinction and improved visualization.
Alert Settings : One of the standout features of the IFVG indicator is the alert system. By setting up alerts, users can be notified whenever the price approaches a demand or supply zone.
Alerts can be customized to trigger Once Per Bar (one alert per bar) or Per Bar Close (alert at the close of each bar), ensuring that traders stay updated on critical price movements without needing to monitor the chart continuously.
🔵 Conclusion
The ICT Implied Fair Value Gap (IFVG) indicator is a powerful and sophisticated tool in technical analysis, allowing professional traders to identify hidden supply and demand zones and use them as entry and exit points for buy and sell trades.
This indicator’s automatic detection of IFVG zones helps traders uncover hidden trading opportunities that can enhance their analysis.
While the IFVG indicator offers numerous advantages, it is important to use it in conjunction with other technical analysis tools and sound risk management practices.
IFVG alone does not guarantee profitability in trading; it works best when combined with other indicators such as volume analysis and trend-following indicators for a comprehensive trading strategy.
ICT Open Range Gap & 1st FVG (fadi)In his 2024 mentorship program, ICT detailed how price action interacts with Open Range Gaps and the initial 1-minute Fair Value Gap following the market open at 9:30 AM.
What is an Open Range Gap?
An Open Range Gap occurs when the market opens at 9:30 AM at a higher or lower level compared to the previous day's close at 4:14 PM, primarily relevant in futures trading. According to ICT, there is a statistical probability of 70% that the price action will close 50% or more of the Open Range Gap within the first 30 minutes of trading (9:30 AM to 10:00 AM).
What is the First 1-Minute Fair Value Gap?
ICT places significant emphasis on the first 1-minute Fair Value Gap (FVG) that forms after the market opens at 9:30 AM. The FVG must occur at 9:31 AM or later to be considered valid. This gap often presents key opportunities for traders, as it represents a temporary imbalance between supply and demand that the market seeks to correct.
Understanding and leveraging these patterns can enhance trading strategies by offering insights into potential price movements shortly after market open.
ICT Open Range Gap & 1st FVG
This indicator is engineered to identify and highlight the Open Range Gaps and the first 1-minute Fair Value Gap. Furthermore, it functions across multiple timeframes, from seconds to hours, catering to various trading preferences. This flexibility is particularly beneficial for traders who favor higher timeframes or wish to observe these patterns' application at broader intervals.
Settings
The Open Range Gap indicator offers flexible display settings. It identifies the quadrants and provides optional color coding to distinguish them. Additionally, it tracks the "fill" level to visualize how far the price action has progressed into the gap, enhancing traders' ability to monitor and analyze price movements effectively. By default, the Open Range Gap will stop extending at 10:00 AM; however, there is an option to continue extending until the end of the trading day.
The 1st Fair Value Gap (FVG) can be viewed on any timeframe the indicator is active on, offering various styling options to match each trader's preferences. While the 1st FVG is particularly relevant to the day it is created, previous 1st FVGs within the same week may provide additional value. This indicator allows traders to extend Monday's 1st FVG, marking the first FVG of the week, or to extend all 1st FVGs throughout the week.
Counting Positive and Negative BarsCounting Positive and Negative Bars: It goes through a specified number of bars and counts how many are positive (close above the previous value) and how many are negative (close below the previous value).
Imbalance Criterion: If the count of negative bars exceeds that of positive bars by a configurable margin (such as 60%), it signals a possible buy (Long) condition. The opposite applies for sell (Short) conditions..
HTF Inversion Fair Value Gap | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Higher Timeframe Inversion Fair Value Gaps (IFVG) indicator! Inversion Fair Value Gaps occur when a Fair Value Gap becomes invalidated. They reverse the role of the original Fair Value Gap, making a bullish zone bearish and vice versa. This indicator finds the latest IFVG in a higher timeframe and renders it in the current chart with it's divergence. For more information about the process, read the "HOW DOES IT WORK" section of the description.
Features of the new Higher Timeframe IFVG Indicator :
Renders The Higher Timeframe IFVG
Invalidation Borders
Variety Of Zone Detection / Sensitivity / Filtering / Invalidation Settings
High Customizability
🚩 UNIQUENESS
This indicator lets you take a look at the bigger picture by rendering the latest IFVG in a higher timeframe. You can see the current IFVG divergence to see how is the price action acting around the IFVG. You also can customize the FVG Filtering method, FVG & IFVG Zone Invalidation, Detection Sensitivity etc. according to your needs to get the best performance from the indicator.
📌 HOW DOES IT WORK ?
A Fair Value Gap generally occur when there is an imbalance in the market. They can be detected by specific formations within the chart. An Inversion Fair Value Gap is when a FVG becomes invalidated, thus reversing the direction of the FVG.
This indicator then renders the IFVG in a higher timeframe in your chart like this :
The opaque dashed lines at the top and the bottom of the IFVG indicate the bars that formed the original FVG. The middle dashed line that is semi-transparent shows the candlestick that invalidated the original FVG, thus created the current IFVG. The vertical solid top & bottom wicks indicate the current divergence of the highest & lowest points to the current IFVG.
The IFVGs can act as strong support & resistance points, depending on their creation volume and invalidation volume. Traders can use them for confirmation signals to their positions.
⚙️ SETTINGS
1. General Configuration
Higher Timeframe -> The higher timeframe to detect latest IFVG from. Keep in mind that his setting must be higher than the current timeframe.
IFVG Zone Invalidation -> Select between Wick & Close price for IFVG Zone Invalidation.
2. Fair Value Gaps
FVG Zone Invalidation -> Select between Wick & Close price for FVG Zone Invalidation.
Zone Filtering -> With "Average Range" selected, algorithm will find FVG zones in comparison with average range of last bars in the chart. With the "Volume Threshold" option, you may select a Volume Threshold % to spot FVGs with a larger total volume than average.
FVG Detection -> With the "Same Type" option, all 3 bars that formed the FVG should be the same type. (Bullish / Bearish). If the "All" option is selected, bar types may vary between Bullish / Bearish.
Detection Sensitivity -> You may select between Low, Normal or High FVG detection sensitivity. This will essentially determine the size of the spotted FVGs, with lower sensitivities resulting in spotting bigger FVGs, and higher sensitivities resulting in spotting all sizes of FVGs.
3. Dasboard
You can enable / disable the mitigation dashboard and customize it here.
4. Customization
Offset -> The number of candlesticks the IFVG will be rendered to the right of the latest bar.
Width -> The width of the rendered IFVG in candlesticks.
Unicorn ICT Signals [TradingFinder] Breaker Block + FVG Zones🔵 Introduction
The "ICT Unicorn Model" trading strategy in the "Inner Circle Trader" (ICT) style is one of the well-known strategies in the world of Forex and financial market trading.
The ICT methodology was developed by Michael Huddleston and is based on technical analysis and Price Action concepts.
This style focuses specifically on interpreting price movements and identifying optimal entry and exit points in the market.
In the Unicorn strategy, traders seek points where the probability of price reversal or trend continuation is high. This strategy is primarily based on recognizing and analyzing Price Action patterns and market structure.
By understanding"ICT Unicorn Model", traders can make more informed decisions about where to enter or exit trades, thereby increasing their chances of success in the market.
🟣 Understanding the Breaker Block
A Breaker Block is a specialized form of an Order Block that changes its role after a key market level is broken. Typically, an Order Block is an area on the chart where large institutional orders are likely to be placed, providing strong support or resistance.
However, when this area is breached, and the price moves in the opposite direction, it transforms into what is known as a Breaker Block. This shift indicates a reversal in market sentiment, turning the previous support into resistance or vice versa, thereby signaling a potential trend change to traders.
🟣 The Significance of the Fair Value Gap (FVG)
The Fair Value Gap (FVG) refers to an area on a price chart where the price rapidly moves through a level, leaving behind a gap. This gap represents an imbalance between supply and demand and is often seen as a potential area for price to return and fill the gap.
These zones are crucial for traders as they can indicate future price movements, providing opportunities to enter or exit trades.
🟣 Defining the ICT Unicorn Model
When an FVG overlaps with a Breaker Block, it forms a highly significant trading area known as a Unicorn. This overlap creates an ideal zone for traders to enter the market, as it combines two powerful technical signals.
The Unicorn Model is therefore considered an optimal strategy for identifying precise entry and exit points in the financial markets.
Demand ICT Unicorn Model :
Supply ICT Unicorn Model :
🔵 How to Use
🟣 Bullish ICT Unicorn
The Bullish ICT Unicorn model is applicable when the market is in an uptrend, and traders are seeking buying opportunities.
Follow these steps to identify Bullish ICT Unicorn :
Identify the Bullish Breaker Block : Locate an area where the price moved upward after breaking an Order Block. This area now acts as a Breaker Block.
Identify the Bullish FVG : Look for a Fair Value Gap near the Breaker Block.
Confirm the Unicorn : When the Bullish Breaker Block and Bullish FVG overlap, a Bullish Unicorn is confirmed. Traders can enter a buy position when the price returns to this zone.
🟣Bearish ICT Unicorn
The Bearish ICT Unicorn model is used when the market is in a downtrend, and traders are looking for selling opportunities.
To identify Bearish ICT Unicorn, follow these steps :
Identify the Bearish Breaker Block : Find an area where the price moved downward after breaking an Order Block. This area now acts as a Breaker Block.
Identify the Bearish FVG : Check if a Fair Value Gap has formed near the Breaker Block.
Confirm the Unicorn : When the Bearish Breaker Block and Bearish FVG overlap, a Bearish Unicorn is confirmed. Traders can enter a sell position when the price returns to this zone.
🔵 Setting
🟣 Global Setting
Pivot Period of Order Blocks Detector : Enter the desired pivot period to identify the Order Block.
Order Block Validity Period (Bar) : You can specify the maximum time the Order Block remains valid based on the number of candles from the origin.
Mitigation Level Breaker Block : Determining the basic level of a Breaker Block. When the price hits the basic level, the Breaker Block due to mitigation.
Mitigation Level FVG : Determining the basic level of a FVG. When the price hits the basic level, the FVG due to mitigation.
Mitigation Level Unicorn : Determining the basic level of a Unicorn Block. When the price hits the basic level, the Unicorn Block due to mitigation.
🟣 Unicorn Block Display
Show All Unicorn Block : If it is turned off, only the last Order Block will be displayed.
Demand Unicorn Block : Show or not show and specify color.
Supply Unicorn Block : Show or not show and specify color.
🟣 Breaker Block Display
Show All Breaker Block : If it is turned off, only the last Breaker Block will be displayed.
Demand Main Breaker Block : Show or not show and specify color.
Demand Sub (Propulsion & BoS Origin) Breaker Block : Show or not show and specify color.
Supply Main Breaker Block : Show or not show and specify color.
Supply Sub (Propulsion & BoS Origin) Breaker Block : Show or not show and specify color.
🟣 Fair Value Gap Display
Show Bullish FVG : Toggles the display of demand-related boxes.
Show Bearish FVG : Toggles the display of supply-related boxes.
🟣 Logic Settings
🟣 Order Block Refinement
Refine Order Blocks : Enable or disable the refinement feature. Mode selection.
🟣 FVG Filter
FVG Filter : This refines the number of identified FVG areas based on a specified algorithm to focus on higher quality signals and reduce noise.
Types of FVG filters :
Very Aggressive Filter: Adds a condition where, for an upward FVG, the last candle's highest price must exceed the middle candle's highest price, and for a downward FVG, the last candle's lowest price must be lower than the middle candle's lowest price. This minimally filters out FVGs.
Aggressive Filter: Builds on the Very Aggressive mode by ensuring the middle candle is not too small, filtering out more FVGs.
Defensive Filter: Adds criteria regarding the size and structure of the middle candle, requiring it to have a substantial body and specific polarity conditions, filtering out a significant number of FVGs.
Very Defensive Filter: Further refines filtering by ensuring the first and third candles are not small-bodied doji candles, retaining only the highest quality signals.
🟣 Alert
Alert Name : The name of the alert you receive.
Alert ICT Unicorn Model Block Mitigation :
On / Off
Message Frequency :
This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone :
The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
🔵Conclusion
The Unicorn Model in ICT, utilizing the concepts of Breaker Blocks and Fair Value Gaps, provides an effective tool for identifying entry and exit points in financial markets. By offering more precise signals, this model helps traders make better decisions and minimize trading risks.
Success in applying this model requires practice and a deep understanding of market structure, but it can significantly improve trading performance.
Multiple Naked LevelsPURPOSE OF THE INDICATOR
This indicator autogenerates and displays naked levels and gaps of multiple types collected into one simple and easy to use indicator.
VALUE PROPOSITION OF THE INDICATOR AND HOW IT IS ORIGINAL AND USEFUL
1) CONVENIENCE : The purpose of this indicator is to offer traders with one coherent and robust indicator providing useful, valuable, and often used levels - in one place.
2) CLUSTERS OF CONFLUENCES : With this indicator it is easy to identify levels and zones on the chart with multiple confluences increasing the likelihood of a potential reversal zone.
THE TYPES OF LEVELS AND GAPS INCLUDED IN THE INDICATOR
The types of levels include the following:
1) PIVOT levels (Daily/Weekly/Monthly) depicted in the chart as: dnPIV, wnPIV, mnPIV.
2) POC (Point of Control) levels (Daily/Weekly/Monthly) depicted in the chart as: dnPoC, wnPoC, mnPoC.
3) VAH/VAL STD 1 levels (Value Area High/Low with 1 std) (Daily/Weekly/Monthly) depicted in the chart as: dnVAH1/dnVAL1, wnVAH1/wnVAL1, mnVAH1/mnVAL1
4) VAH/VAL STD 2 levels (Value Area High/Low with 2 std) (Daily/Weekly/Monthly) depicted in the chart as: dnVAH2/dnVAL2, wnVAH2/wnVAL2, mnVAH1/mnVAL2
5) FAIR VALUE GAPS (Daily/Weekly/Monthly) depicted in the chart as: dnFVG, wnFVG, mnFVG.
6) CME GAPS (Daily) depicted in the chart as: dnCME.
7) EQUILIBRIUM levels (Daily/Weekly/Monthly) depicted in the chart as dnEQ, wnEQ, mnEQ.
HOW-TO ACTIVATE LEVEL TYPES AND TIMEFRAMES AND HOW-TO USE THE INDICATOR
You can simply choose which of the levels to be activated and displayed by clicking on the desired radio button in the settings menu.
You can locate the settings menu by clicking into the Object Tree window, left-click on the Multiple Naked Levels and select Settings.
You will then get a menu of different level types and timeframes. Click the checkboxes for the level types and timeframes that you want to display on the chart.
You can then go into the chart and check out which naked levels that have appeared. You can then use those levels as part of your technical analysis.
The levels displayed on the chart can serve as additional confluences or as part of your overall technical analysis and indicators.
In order to back-test the impact of the different naked levels you can also enable tapped levels to be depicted on the chart. Do this by toggling the 'Show tapped levels' checkbox.
Keep in mind however that Trading View can not shom more than 500 lines and text boxes so the indocator will not be able to give you the complete history back to the start for long duration assets.
In order to clean up the charts a little bit there are two additional settings that can be used in the Settings menu:
- Selecting the price range (%) from the current price to be included in the chart. The default is 25%. That means that all levels below or above 20% will not be displayed. You can set this level yourself from 0 up to 100%.
- Selecting the minimum gap size to include on the chart. The default is 1%. That means that all gaps/ranges below 1% in price difference will not be displayed on the chart. You can set the minimum gap size yourself.
BASIC DESCRIPTION OF THE INNER WORKINGS OF THE INDICTATOR
The way the indicator works is that it calculates and identifies all levels from the list of levels type and timeframes above. The indicator then adds this level to a list of untapped levels.
Then for each bar after, it checks if the level has been tapped. If the level has been tapped or a gap/range completely filled, this level is removed from the list so that the levels displayed in the end are only naked/untapped levels.
Below is a descrition of each of the level types and how it is caluclated (algorithm):
PIVOT
Daily, Weekly and Monthly levels in trading refer to significant price points that traders monitor within the context of a single trading day. These levels can provide insights into market behavior and help traders make informed decisions regarding entry and exit points.
Traders often use D/W/M levels to set entry and exit points for trades. For example, entering long positions near support (daily close) or selling near resistance (daily close).
Daily levels are used to set stop-loss orders. Placing stops just below the daily close for long positions or above the daily close for short positions can help manage risk.
The relationship between price movement and daily levels provides insights into market sentiment. For instance, if the price fails to break above the daily high, it may signify bearish sentiment, while a strong breakout can indicate bullish sentiment.
The way these levels are calculated in this indicator is based on finding pivots in the chart on D/W/M timeframe. The level is then set to previous D/W/M close = current D/W/M open.
In addition, when price is going up previous D/W/M open must be smaller than previous D/W/M close and current D/W/M close must be smaller than the current D/W/M open. When price is going down the opposite.
POINT OF CONTROL
The Point of Control (POC) is a key concept in volume profile analysis, which is commonly used in trading.
It represents the price level at which the highest volume of trading occurred during a specific period.
The POC is derived from the volume traded at various price levels over a defined time frame. In this indicator the timeframes are Daily, Weekly, and Montly.
It identifies the price level where the most trades took place, indicating strong interest and activity from traders at that price.
The POC often acts as a significant support or resistance level. If the price approaches the POC from above, it may act as a support level, while if approached from below, it can serve as a resistance level. Traders monitor the POC to gauge potential reversals or breakouts.
The way the POC is calculated in this indicator is by an approximation by analysing intrabars for the respective timeperiod (D/W/M), assigning the volume for each intrabar into the price-bins that the intrabar covers and finally identifying the bin with the highest aggregated volume.
The POC is the price in the middle of this bin.
The indicator uses a sample space for intrabars on the Daily timeframe of 15 minutes, 35 minutes for the Weekly timeframe, and 140 minutes for the Monthly timeframe.
The indicator has predefined the size of the bins to 0.2% of the price at the range low. That implies that the precision of the calulated POC og VAH/VAL is within 0.2%.
This reduction of precision is a tradeoff for performance and speed of the indicator.
This also implies that the bigger the difference from range high prices to range low prices the more bins the algorithm will iterate over. This is typically the case when calculating the monthly volume profile levels and especially high volatility assets such as alt coins.
Sometimes the number of iterations becomes too big for Trading View to handle. In these cases the bin size will be increased even more to reduce the number of iterations.
In such cases the bin size might increase by a factor of 2-3 decreasing the accuracy of the Volume Profile levels.
Anyway, since these Volume Profile levels are approximations and since precision is traded for performance the user should consider the Volume profile levels(POC, VAH, VAL) as zones rather than pin point accurate levels.
VALUE AREA HIGH/LOW STD1/STD2
The Value Area High (VAH) and Value Area Low (VAL) are important concepts in volume profile analysis, helping traders understand price levels where the majority of trading activity occurs for a given period.
The Value Area High/Low is the upper/lower boundary of the value area, representing the highest price level at which a certain percentage of the total trading volume occurred within a specified period.
The VAH/VAL indicates the price point above/below which the majority of trading activity is considered less valuable. It can serve as a potential resistance/support level, as prices above/below this level may experience selling/buying pressure from traders who view the price as overvalued/undervalued
In this indicator the timeframes are Daily, Weekly, and Monthly. This indicator provides two boundaries that can be selected in the menu.
The first boundary is 70% of the total volume (=1 standard deviation from mean). The second boundary is 95% of the total volume (=2 standard deviation from mean).
The way VAH/VAL is calculated is based on the same algorithm as for the POC.
However instead of identifying the bin with the highest volume, we start from range low and sum up the volume for each bin until the aggregated volume = 30%/70% for VAL1/VAH1 and aggregated volume = 5%/95% for VAL2/VAH2.
Then we simply set the VAL/VAH equal to the low of the respective bin.
FAIR VALUE GAPS
Fair Value Gaps (FVG) is a concept primarily used in technical analysis and price action trading, particularly within the context of futures and forex markets. They refer to areas on a price chart where there is a noticeable lack of trading activity, often highlighted by a significant price movement away from a previous level without trading occurring in between.
FVGs represent price levels where the market has moved significantly without any meaningful trading occurring. This can be seen as a "gap" on the price chart, where the price jumps from one level to another, often due to a rapid market reaction to news, events, or other factors.
These gaps typically appear when prices rise or fall quickly, creating a space on the chart where no transactions have taken place. For example, if a stock opens sharply higher and there are no trades at the prices in between the two levels, it creates a gap. The areas within these gaps can be areas of liquidity that the market may return to “fill” later on.
FVGs highlight inefficiencies in pricing and can indicate areas where the market may correct itself. When the market moves rapidly, it may leave behind price levels that traders eventually revisit to establish fair value.
Traders often watch for these gaps as potential reversal or continuation points. Many traders believe that price will eventually “fill” the gap, meaning it will return to those price levels, providing potential entry or exit points.
This indicator calculate FVGs on three different timeframes, Daily, Weekly and Montly.
In this indicator the FVGs are identified by looking for a three-candle pattern on a chart, signalling a discrete imbalance in order volume that prompts a quick price adjustment. These gaps reflect moments where the market sentiment strongly leans towards buying or selling yet lacks the opposite orders to maintain price stability.
The indicator sets the gap to the difference from the high of the first bar to the low of the third bar when price is moving up or from the low of the first bar to the high of the third bar when price is moving down.
CME GAPS (BTC only)
CME gaps refer to price discrepancies that can occur in charts for futures contracts traded on the Chicago Mercantile Exchange (CME). These gaps typically arise from the fact that many futures markets, including those on the CME, operate nearly 24 hours a day but may have significant price movements during periods when the market is closed.
CME gaps occur when there is a difference between the closing price of a futures contract on one trading day and the opening price on the following trading day. This difference can create a "gap" on the price chart.
Opening Gaps: These usually happen when the market opens significantly higher or lower than the previous day's close, often influenced by news, economic data releases, or other market events occurring during non-trading hours.
Gaps can result from reactions to major announcements or developments, such as earnings reports, geopolitical events, or changes in economic indicators, leading to rapid price movements.
The importance of CME Gaps in Trading is the potential for Filling Gaps: Many traders believe that prices often "fill" gaps, meaning that prices may return to the gap area to establish fair value.
This can create potential trading opportunities based on the expectation of gap filling. Gaps can act as significant support or resistance levels. Traders monitor these levels to identify potential reversal points in price action.
The way the gap is identified in this indicator is by checking if current open is higher than previous bar close when price is moving up or if current open is lower than previous day close when price is moving down.
EQUILIBRIUM
Equilibrium in finance and trading refers to a state where supply and demand in a market balance each other, resulting in stable prices. It is a key concept in various economic and trading contexts. Here’s a concise description:
Market Equilibrium occurs when the quantity of a good or service supplied equals the quantity demanded at a specific price level. At this point, there is no inherent pressure for the price to change, as buyers and sellers are in agreement.
Equilibrium Price is the price at which the market is in equilibrium. It reflects the point where the supply curve intersects the demand curve on a graph. At the equilibrium price, the market clears, meaning there are no surplus goods or shortages.
In this indicator the equilibrium level is calculated simply by finding the midpoint of the Daily, Weekly, and Montly candles respectively.
NOTES
1) Performance. The algorithms are quite resource intensive and the time it takes the indicator to calculate all the levels could be 5 seconds or more, depending on the number of bars in the chart and especially if Montly Volume Profile levels are selected (POC, VAH or VAL).
2) Levels displayed vs the selected chart timeframe. On a timeframe smaller than the daily TF - both Daily, Weekly, and Monthly levels will be displayed. On a timeframe bigger than the daily TF but smaller than the weekly TF - the Weekly and Monthly levels will be display but not the Daily levels. On a timeframe bigger than the weekly TF but smaller than the monthly TF - only the Monthly levels will be displayed. Not Daily and Weekly.
CREDITS
The core algorithm for calculating the POC levels is based on the indicator "Naked Intrabar POC" developed by rumpypumpydumpy (https:www.tradingview.com/u/rumpypumpydumpy/).
The "Naked intrabar POC" indicator calculates the POC on the current chart timeframe.
This indicator (Multiple Naked Levels) adds two new features:
1) It calculates the POC on three specific timeframes, the Daily, Weekly, and Monthly timeframes - not only the current chart timeframe.
2) It adds functionaly by calculating the VAL and VAH of the volume profile on the Daily, Weekly, Monthly timeframes .
Smart Money Concepts by WeloTradesThe "Smart Money Concepts by WeloTrades" indicator is designed to offer traders a comprehensive tool that integrates multiple advanced features to aid in market analysis. By combining order blocks, liquidity levels, fair value gaps, trendlines, and market structure analysis, the indicator provides a holistic approach to understanding market dynamics and making informed trading decisions.
Components and Their Integration:
Order Blocks and Breaker Blocks Detection
Functionality: Order blocks represent areas where significant buying or selling occurred, creating potential support or resistance zones. Breaker blocks signal potential reversals.
Integration: By detecting and visualizing these blocks, the indicator helps traders identify key levels where price might react, aiding in entry and exit decisions. The customizable settings allow traders to adjust the visibility and parameters to suit their specific trading strategy.
Liquidity Levels Analysis
Functionality: Liquidity levels indicate zones where significant price movements can occur due to the presence of large orders. These are areas where smart money might be executing trades.
Integration: By tracking these high-probability liquidity areas, traders can anticipate potential price movements. Customizable display limits and mitigation strategies ensure that the information is tailored to the trader’s needs, providing precise and actionable insights.
Fair Value Gaps (FVG)
Functionality: Fair value gaps highlight areas where there is an imbalance between buyers and sellers. These gaps often represent potential trading opportunities.
Integration: The ability to identify and analyze FVGs helps traders spot potential entries based on market inefficiencies. The touch and break detection functionalities provide further refinement, enhancing the precision of trading signals.
Trendlines
Functionality: Trendlines help in identifying the direction of the market and potential reversal points. The additional trendline adds a layer of confirmation for breaks or retests.
Integration: Automatically drawn trendlines assist traders in visualizing market trends and making decisions about potential entries and exits. The additional trendline for stronger confirmation reduces the risk of false signals, providing more reliable trading opportunities.
Market Structure Analysis
Functionality: Understanding market structure is crucial for identifying key support and resistance levels and overall market dynamics. This component displays internal, external, and composite market structures.
Integration: By automatically highlighting shifts in market structure, the indicator helps traders recognize important levels and potential changes in market direction. This analysis is critical for strategic planning and execution in trading.
Customizable Alerts
Functionality: Alerts ensure that traders do not miss significant market events, such as the formation or breach of order blocks, liquidity levels, and trendline interactions.
Integration: Customizable alerts enhance the user experience by providing timely notifications of key events. This feature ensures that traders can act quickly and efficiently, leveraging the insights provided by the indicator.
Interactive Visualization
Functionality: Customizable visual aspects of the indicator allow traders to tailor the display to their preferences and trading style.
Integration: This feature enhances user engagement and usability, making it easier for traders to interpret the data and make informed decisions. Personalization options like colors, styles, and display formats improve the overall effectiveness of the indicator.
How Components Work Together
Comprehensive Market Analysis
Each component of the indicator addresses a different aspect of market analysis. Order blocks and liquidity levels highlight potential support and resistance zones, while fair value gaps and trendlines provide additional context for potential entries and exits. Market structure analysis ties everything together by offering a broad view of market dynamics.
Synergistic Insights
The integration of multiple features allows for cross-validation of trading signals. For instance, an order block coinciding with a high-probability liquidity level and a fair value gap can provide a stronger signal than any of these features alone. This synergy enhances the reliability of the insights and trading signals generated by the indicator.
Enhanced Decision Making
By combining these advanced features into a single tool, traders are equipped with a powerful resource for making informed decisions. The customizable alerts and interactive visualization further support this by ensuring that traders can act quickly on the insights provided.
Order Blocks ( OB) & Breaker Blocks (BB) Visuals:
📝 OB Input Settings
📊 Timeframe #1
TF #1🕑: Enable or disable Timeframe 1.
What it is: A boolean input to toggle the use of the first timeframe.
What it does: Enables or disables Timeframe 1 for the OB settings.
How to use it: Check or uncheck the box to enable or disable.
📊 Timeframe 1 Selection
Timeframe #1🕑: Select the timeframe for Timeframe 1.
What it is: A dropdown to select the desired timeframe.
What it does: Sets the timeframe for Timeframe 1.
How to use it: Choose a timeframe from the dropdown list.
📊 Timeframe #2
TF #2🕑: Enable or disable Timeframe 2.
What it is: A boolean input to toggle the use of the second timeframe.
What it does: Enables or disables Timeframe 2 for the OB settings.
How to use it: Check or uncheck the box to enable or disable.
📊 Timeframe 2 Selection
Timeframe #2🕑: Select the timeframe for Timeframe 2.
What it is: A dropdown to select the desired timeframe.
What it does: Sets the timeframe for Timeframe 2.
How to use it: Choose a timeframe from the dropdown list.
Additional Info: Higher TF Chart & Lower TF Setting / Lower TF Chart & Higher TF Setting.
📏 Show OBs
OB (Length)📏: Toggle the display of Order Blocks.
What it is: A boolean input to enable or disable the display of Order Blocks.
What it does: Shows or hides Order Blocks based on the selected swing length.
How to use it: Check or uncheck the box to enable or disable.
📏 Swing Length Option
Swing Length Option: Select the swing length option.
What it is: A dropdown to choose between SHORT, MID, LONG, or CUSTOM.
What it does: Sets the length of swings for Order Blocks.
How to use it: Choose an option from the dropdown.
Additional Info: Default lengths are SHORT=10, MID=28, LONG=50.
🔧 Custom Swing Length
🔧custom: Specify a custom swing length.
What it is: An integer input for setting a custom swing length.
What it does: Overrides the default swing lengths if set to CUSTOM.
How to use it: Enter a custom integer value (only shown when CUSTOM is selected).
📛 Show BBs
BB (Method)📛: Toggle the display of Breaker Blocks.
What it is: A boolean input to enable or disable the display of Breaker Blocks.
What it does: Shows or hides Breaker Blocks.
How to use it: Check or uncheck the box to enable or disable.
📛 OB End Method
OB End Method: Select the method for determining the end of a Breaker Block.
What it is: A dropdown to choose between Wick and Close.
What it does: Sets the criteria for when a Breaker Block is considered mitigated.
How to use it: Choose an option from the dropdown.
Additional Info: Wicks: OB is mitigated when the price wicks through the OB Level. Close: OB is mitigated when the closing price is within the OB Level.
🔍 Max Bullish Zones
🔍Max Bullish: Set the maximum number of Bullish Order Blocks to display.
What it is: A dropdown to select the maximum number of Bullish Order Blocks.
What it does: Limits the number of Bullish Order Blocks shown on the chart.
How to use it: Choose a value from the dropdown (1-10).
🔍 Max Bearish Zones
🔍Max Bearish: Set the maximum number of Bearish Order Blocks to display.
What it is: A dropdown to select the maximum number of Bearish Order Blocks.
What it does: Limits the number of Bearish Order Blocks shown on the chart.
How to use it: Choose a value from the dropdown (1-10).
🟩 Bullish OB Color
Bullish OB Color: Set the color for Bullish Order Blocks.
What it is: A color picker to set the color of Bullish Order Blocks.
What it does: Changes the color of Bullish Order Blocks on the chart.
How to use it: Select a color from the color picker.
🟥 Bearish OB Color
Bearish OB Color: Set the color for Bearish Order Blocks.
What it is: A color picker to set the color of Bearish Order Blocks.
What it does: Changes the color of Bearish Order Blocks on the chart.
How to use it: Select a color from the color picker.
🔧 OB & BB Range
↔ OB & BB Range: Select the range option for OB and BB.
What it is: A dropdown to choose between RANGE and CUSTOM.
What it does: Sets how far the OB or BB should extend.
How to use it: Choose an option from the dropdown.
Additional Info: RANGE = Current price, CUSTOM = Adjustable Range.
🔧 Custom OB & BB Range
🔧Custom: Specify a custom range for OB and BB.
What it is: An integer input for setting a custom range.
What it does: Defines how far the OB or BB should go, based on a custom value.
How to use it: Enter a custom integer value (range: 1000-500000).
💬 Text Options
💬Text Options: Set text size and color for OB and BB.
What it is: A dropdown to select text size and a color picker to choose text color.
What it does: Changes the size and color of the text displayed for OB and BB.
How to use it: Select a size from the dropdown and a color from the color picker.
💬 Show Timeframe OB
Text: Toggle to display the timeframe of OB.
What it is: A boolean input to show or hide the timeframe text for OB.
What it does: Displays the timeframe information for Order Blocks on the chart.
How to use it: Check or uncheck the box to enable or disable.
💬 Show Volume
Volume: Toggle to display the volume of OB.
What it is: A boolean input to show or hide the volume information for Order Blocks.
What it does: Displays the volume information for Order Blocks on the chart.
How to use it: Check or uncheck the box to enable or disable.
Additional Info:
What it represents: The volume displayed represents the total trading volume that occurred during the formation of the Order Block. This can indicate the level of participation or interest in that price level.
How it's calculated: The volume is the sum of all traded volumes within the candles that form the Order Block.
What it means: Higher volume at an Order Block level may suggest stronger support or resistance. It shows the amount of trading activity and can be an indicator of the potential strength or validity of the Order Block.
Why it's shown: To give traders an idea of the market participation and to help assess the strength of the Order Block.
💬 Show Percentage
%: Toggle to display the percentage of OB.
What it is: A boolean input to show or hide the percentage information for Order Blocks.
What it does: Displays the percentage information for Order Blocks on the chart.
How to use it: Check or uncheck the box to enable or disable.
Additional Info:
What it represents: The percentage displayed usually represents the proportion of price movement relative to the Order Block.
How it's calculated: This can be the percentage move from the start to the end of the Order Block or the retracement level that price has reached relative to the Order Block's range.
What it means: It helps traders understand the extent of price movement within the Order Block and can indicate the significance of the price level.
Why it's shown: To provide a clearer understanding of the price dynamics and the importance of the Order Block within the overall price movement.
Additional Information
Volume Example: If an Order Block forms over three candles with volumes of 100, 150, and 200, the total volume displayed for that Order Block would be 450.
Percentage Example: If the price moves from 100 to 110 within an Order Block, and the total range of the Order Block is from 100 to 120, the percentage shown might be 50% (since the price has moved halfway through the Order Block's range).
Liquidity Levels visuals:
📊 Liquidity Levels Input Settings
📊 Current Timeframe
TF #1🕑: Enable or disable the current timeframe.
What it is: A boolean input to toggle the use of the current timeframe.
What it does: Enables or disables the display of liquidity levels for the current timeframe.
How to use it: Check or uncheck the box to enable or disable.
📊 Higher Timeframe
Higher Timeframe: Select the higher timeframe for liquidity levels.
What it is: A dropdown to select the desired higher timeframe.
What it does: Sets the higher timeframe for liquidity levels.
How to use it: Choose a timeframe from the dropdown list.
📏 Liquidity Length Option
📏Liquidity Length: Select the length for liquidity levels.
What it is: A dropdown to choose between SHORT, MID, LONG, or CUSTOM.
What it does: Sets the length of swings for liquidity levels.
How to use it: Choose an option from the dropdown.
Additional Info: Default lengths are SHORT=10, MID=28, LONG=50.
🔧 Custom Liquidity Length
🔧custom: Specify a custom length for liquidity levels.
What it is: An integer input for setting a custom swing length.
What it does: Overrides the default liquidity lengths if set to CUSTOM.
How to use it: Enter a custom integer value (only shown when CUSTOM is selected).
📛 Mitigation Method
📛Mitigation (Method): Select the method for determining the mitigation of liquidity levels.
What it is: A dropdown to choose between Close and Wick.
What it does: Sets the criteria for when a liquidity level is considered mitigated.
How to use it: Choose an option from the dropdown.
Additional Info:
Wick: Level is mitigated when the price wicks through the level.
Close: Level is mitigated when the closing price is within the level.
📛 Display Mitigated Levels
-: Select to display or hide mitigated levels.
What it is: A dropdown to choose between Remove and Show.
What it does: Displays or hides mitigated liquidity levels.
How to use it: Choose an option from the dropdown.
Additional Info:
Remove: Hide mitigated levels.
Show: Display mitigated levels.
🔍 Max Buy Side Liquidity
🔍Max Buy Side Liquidity: Set the maximum number of Buy Side Liquidity Levels to display.
What it is: An integer input to set the maximum number of Buy Side Liquidity Levels.
What it does: Limits the number of Buy Side Liquidity Levels shown on the chart.
How to use it: Enter a value between 0 and 50.
🟦 Buy Side Liquidity Color
Buy Side Liquidity Color: Set the color for Buy Side Liquidity Levels.
What it is: A color picker to set the color of Buy Side Liquidity Levels.
What it does: Changes the color of Buy Side Liquidity Levels on the chart.
How to use it: Select a color from the color picker.
Additional Info:
Tooltip: Set the maximum number of Buy Side Liquidity Levels to display. Default: 5, Min: 1, Max: 50.
If liquidity levels are not displayed as expected, try increasing the max count.
🔍 Max Sell Side Liquidity
🔍Max Sell Side Liquidity: Set the maximum number of Sell Side Liquidity Levels to display.
What it is: An integer input to set the maximum number of Sell Side Liquidity Levels.
What it does: Limits the number of Sell Side Liquidity Levels shown on the chart.
How to use it: Enter a value between 0 and 50.
🟥 Sell Side Liquidity Color
Sell Side Liquidity Color: Set the color for Sell Side Liquidity Levels.
What it is: A color picker to set the color of Sell Side Liquidity Levels.
What it does: Changes the color of Sell Side Liquidity Levels on the chart.
How to use it: Select a color from the color picker.
Additional Info:
Tooltip: Set the maximum number of Sell Side Liquidity Levels to display. Default: 5, Min: 1, Max: 50.
If liquidity levels are not displayed as expected, try increasing the max count.
✂ Box Style (Height)
✂ Box Style (↕): Set the box height style for liquidity levels.
What it is: A float input to set the height of the boxes.
What it does: Adjusts the height of the boxes displaying liquidity levels.
How to use it: Enter a value between -50 and 50.
Additional Info: Default value is -5.
📏 Box Length
b: Set the box length of liquidity levels.
What it is: An integer input to set the length of the boxes.
What it does: Adjusts the length of the boxes displaying liquidity levels.
How to use it: Enter a value between 0 and 500.
Additional Info: Default value is 20.
⏭ Extend Liquidity Levels
Extend ⏭: Toggle to extend liquidity levels beyond the current range.
What it is: A boolean input to enable or disable the extension of liquidity levels.
What it does: Extends liquidity levels beyond their default range.
How to use it: Check or uncheck the box to enable or disable.
Additional Info: Extend liquidity levels beyond the current range.
💬 Text Options
💬 Text Options: Set text size and color for liquidity levels.
What it is: A dropdown to select text size and a color picker to choose text color.
What it does: Changes the size and color of the text displayed for liquidity levels.
How to use it: Select a size from the dropdown and a color from the color picker.
💬 Show Text
Text: Toggle to display text for liquidity levels.
What it is: A boolean input to show or hide the text for liquidity levels.
What it does: Displays the text information for liquidity levels on the chart.
How to use it: Check or uncheck the box to enable or disable.
💬 Show Volume
Volume: Toggle to display the volume of liquidity levels.
What it is: A boolean input to show or hide the volume information for liquidity levels.
What it does: Displays the volume information for liquidity levels on the chart.
How to use it: Check or uncheck the box to enable or disable.
Additional Info:
What it represents: The volume displayed represents the total trading volume that occurred during the formation of the liquidity level. This can indicate the level of participation or interest in that price level.
How it's calculated: The volume is the sum of all traded volumes within the candles that form the liquidity level.
What it means: Higher volume at a liquidity level may suggest stronger support or resistance. It shows the amount of trading activity and can be an indicator of the potential strength or validity of the liquidity level.
Why it's shown: To give traders an idea of the market participation and to help assess the strength of the liquidity level.
💬 Show Percentage
%: Toggle to display the percentage of liquidity levels.
What it is: A boolean input to show or hide the percentage information for liquidity levels.
What it does: Displays the percentage information for liquidity levels on the chart.
How to use it: Check or uncheck the box to enable or disable.
Additional Info:
What it represents: The percentage displayed usually represents the proportion of price movement relative to the liquidity level.
How it's calculated: This can be the percentage move from the start to the end of the liquidity level or the retracement level that price has reached relative to the liquidity level's range.
What it means: It helps traders understand the extent of price movement within the liquidity level and can indicate the significance of the price level.
Why it's shown: To provide a clearer understanding of the price dynamics and the importance of the liquidity level within the overall price movement.
Fair Value Gaps visuals:
📊 Fair Value Gaps Input Settings
📊 Show FVG
TF #1🕑: Enable or disable Fair Value Gaps for Timeframe 1.
What it is: A boolean input to toggle the display of Fair Value Gaps.
What it does: Shows or hides Fair Value Gaps on the chart.
How to use it: Check or uncheck the box to enable or disable.
📊 Select Timeframe
Timeframe: Select the timeframe for Fair Value Gaps.
What it is: A dropdown to select the desired timeframe.
What it does: Sets the timeframe for Fair Value Gaps.
How to use it: Choose a timeframe from the dropdown list.
Additional Info: Higher TF Chart & Lower TF Setting or Lower TF Chart & Higher TF Setting.
📛 FVG Break Method
📛FVG Break (Method): Select the method for determining when an FVG is mitigated.
What it is: A dropdown to choose between Touch, Wicks, Close, or Average.
What it does: Sets the criteria for when a Fair Value Gap is considered mitigated.
How to use it: Choose an option from the dropdown.
Additional Info:
Touch: FVG is mitigated when the price touches the gap.
Wicks: FVG is mitigated when the price wicks through the gap.
Close: FVG is mitigated when the closing price is within the gap.
Average: FVG is mitigated when the average price (average of high and low) is within the gap.
📛 Show Mitigated FVG
show: Toggle to display mitigated FVGs.
What it is: A boolean input to show or hide mitigated Fair Value Gaps.
What it does: Displays or hides mitigated Fair Value Gaps.
How to use it: Check or uncheck the box to enable or disable.
📛 Fill FVG
Fill: Toggle to fill Fair Value Gaps.
What it is: A boolean input to fill the Fair Value Gaps with color.
What it does: Adds a color fill to the Fair Value Gaps.
How to use it: Check or uncheck the box to enable or disable.
📛 Shade FVG
Shade: Toggle to shade Fair Value Gaps.
What it is: A boolean input to shade the Fair Value Gaps.
What it does: Adds a shade effect to the Fair Value Gaps.
How to use it: Check or uncheck the box to enable or disable.
Additional Info: Select the method to break FVGs and toggle the visibility of FVG Breaks (fill FVG and/or shade FVG).
🔍 Max Bullish FVG
🔍Max Bullish FVG: Set the maximum number of Bullish Fair Value Gaps to display.
What it is: An integer input to set the maximum number of Bullish Fair Value Gaps.
What it does: Limits the number of Bullish Fair Value Gaps shown on the chart.
How to use it: Enter a value between 0 and 50.
🔍 Max Bearish FVG
🔍Max Bearish FVG: Set the maximum number of Bearish Fair Value Gaps to display.
What it is: An integer input to set the maximum number of Bearish Fair Value Gaps.
What it does: Limits the number of Bearish Fair Value Gaps shown on the chart.
How to use it: Enter a value between 0 and 50.
🟥 Bearish FVG Color
Bearish FVG Color: Set the color for Bearish Fair Value Gaps.
What it is: A color picker to set the color of Bearish Fair Value Gaps.
What it does: Changes the color of Bearish Fair Value Gaps on the chart.
How to use it: Select a color from the color picker.
Additional Info:
Tooltip: Set the maximum number of Bearish Fair Value Gaps to display. Default: 5, Min: 1, Max: 50.
If Fair Value Gaps are not displayed as expected, try increasing the max count.
🟦 Bullish FVG Color
Bullish FVG Color: Set the color for Bullish Fair Value Gaps.
What it is: A color picker to set the color of Bullish Fair Value Gaps.
What it does: Changes the color of Bullish Fair Value Gaps on the chart.
How to use it: Select a color from the color picker.
Additional Info:
Tooltip: Set the maximum number of Bullish Fair Value Gaps to display. Default: 5, Min: 1, Max: 50.
If Fair Value Gaps are not displayed as expected, try increasing the max count.
📏 FVG Range
↔ FVG Range: Set the range for Fair Value Gaps.
What it is: An integer input to set the range of the Fair Value Gaps.
What it does: Adjusts the range of the Fair Value Gaps displayed.
How to use it: Enter a value between 0 and 100.
Additional Info: Adjustable length only works when both RANGE & EXTEND display OFF. Range=current price, Extend=Full Range.
⏭ Extend FVG
Extend⏭: Toggle to extend Fair Value Gaps beyond the current range.
What it is: A boolean input to enable or disable the extension of Fair Value Gaps.
What it does: Extends Fair Value Gaps beyond their default range.
How to use it: Check or uncheck the box to enable or disable.
⏯ FVG Range
Range⏯: Toggle the range of Fair Value Gaps.
What it is: A boolean input to enable or disable the range display for Fair Value Gaps.
What it does: Sets the range of Fair Value Gaps displayed.
How to use it: Check or uncheck the box to enable or disable.
↕ Max Width
↕ Max Width: Set the maximum width of Fair Value Gaps.
What it is: A float input to set the maximum width of Fair Value Gaps.
What it does: Limits the width of Fair Value Gaps as a percentage of the price range.
How to use it: Enter a value between 0 and 5.0.
Additional Info: FVGs wider than this value will be ignored.
♻ Filter FVG
Filter FVG ♻: Toggle to filter out small Fair Value Gaps.
What it is: A boolean input to filter out small Fair Value Gaps.
What it does: Ignores Fair Value Gaps smaller than the specified max width.
How to use it: Check or uncheck the box to enable or disable.
➖ Mid Line Style
➖Mid Line Style: Select the style of the mid line for Fair Value Gaps.
What it is: A dropdown to choose between Solid, Dashed, or Dotted.
What it does: Sets the style of the mid line within Fair Value Gaps.
How to use it: Choose an option from the dropdown.
🎨 Mid Line Color
Mid Line Color: Set the color for the mid line within Fair Value Gaps.
What it is: A color picker to set the color of the mid line.
What it does: Changes the color of the mid line within Fair Value Gaps.
How to use it: Select a color from the color picker.
Additional Information
Mitigation Methods: Each method (Touch, Wicks, Close, Average) provides different criteria for when a Fair Value Gap is considered mitigated, helping traders to understand the dynamics of price movements within gaps.
Volume and Percentage: Displaying volume and percentage information for Fair Value Gaps helps traders gauge the strength and significance of these gaps in relation to trading activity and price movements.
Trendlines visuals:
📊 Trendlines Input Settings
📊 Show Trendlines
Trendlines & Trendlines Difference(%) ↕: Enable or disable trendlines and set the percentage difference from the first trendline.
What it is: A boolean input to toggle the display of trendlines.
What it does: Shows or hides trendlines on the chart and allows setting a percentage difference from the first trendline.
How to use it: Check or uncheck the box to enable or disable.
Additional Info: The percentage difference determines the distance of the second trendline from the first one.
📏 Trendline Length Option
📏Trendline Length: Select the length for trendlines.
What it is: A dropdown to choose between SHORT, MID, LONG, or CUSTOM.
What it does: Sets the length of trendlines.
How to use it: Choose an option from the dropdown.
Additional Info: Default lengths are SHORT=50, MID=100, LONG=200.
🔧 Custom Trendline Length
🔧custom: Specify a custom length for trendlines.
What it is: An integer input for setting a custom trendline length.
What it does: Overrides the default trendline lengths if set to CUSTOM.
How to use it: Enter a custom integer value (only shown when CUSTOM is selected).
🔍 Max Bearish Trendlines
🔍Max Trendlines Bearish: Set the maximum number of bearish trendlines to display.
What it is: A dropdown to select the maximum number of bearish trendlines.
What it does: Limits the number of bearish trendlines shown on the chart.
How to use it: Choose a value from the dropdown (2-20).
🟩 Bearish Trendline Color
Bearish Trendline Color: Set the color for bearish trendlines.
What it is: A color picker to set the color of bearish trendlines.
What it does: Changes the color of bearish trendlines on the chart.
How to use it: Select a color from the color picker.
Additional Info: Adjust to control how many bearish trendlines are displayed.
🔍 Max Bullish Trendlines
🔍Max Trendlines Bullish: Set the maximum number of bullish trendlines to display.
What it is: A dropdown to select the maximum number of bullish trendlines.
What it does: Limits the number of bullish trendlines shown on the chart.
How to use it: Choose a value from the dropdown (2-20).
🟥 Bullish Trendline Color
Bullish Trendline Color: Set the color for bullish trendlines.
What it is: A color picker to set the color of bullish trendlines.
What it does: Changes the color of bullish trendlines on the chart.
How to use it: Select a color from the color picker.
Additional Info: Adjust to control how many bullish trendlines are displayed.
📐 Degrees Text
📐Degrees ° (💬 Size): Enable or disable degrees text and set its size and color.
What it is: A boolean input to show or hide the degrees text for trendlines.
What it does: Displays the degrees text for trendlines.
How to use it: Check or uncheck the box to enable or disable.
📏 Text Size for Degrees
Text Size: Set the text size for degrees on trendlines.
What it is: A dropdown to select the size of the degrees text.
What it does: Changes the size of the degrees text displayed for trendlines.
How to use it: Choose a size from the dropdown (XS, S, M, L, XL).
🎨 Degrees Text Color
Degrees Text Color: Set the color for the degrees text on trendlines.
What it is: A color picker to set the color of the degrees text.
What it does: Changes the color of the degrees text on the chart.
How to use it: Select a color from the color picker.
♻ Filter Degrees
♻ Filter Degrees °: Enable or disable angle filtering and set the angle range.
What it is: A boolean input to filter trendlines by their angle.
What it does: Shows only trendlines within a specified angle range.
How to use it: Check or uncheck the box to enable or disable.
Additional Info: Angles outside this range will be filtered out.
🔢 Angle Range
Angle Range: Set the angle range for filtering trendlines.
What it is: Two float inputs to set the minimum and maximum angle for trendlines.
What it does: Defines the range of angles for which trendlines will be shown.
How to use it: Enter values for the minimum and maximum angles.
➖ Line Style
➖Style #1 & #2: Select the style of the primary and secondary trendlines.
What it is: Two dropdowns to choose between Solid, Dashed, or Dotted for the trendlines.
What it does: Sets the style of the primary and secondary trendlines.
How to use it: Choose a style from each dropdown.
📏 Line Thickness
: Set the thickness for the trendlines.
What it is: An integer input to set the thickness of the trendlines.
What it does: Adjusts the thickness of the trendlines displayed on the chart.
How to use it: Enter a value between 1 and 5.
Additional Information
Trendline Percentage Difference: Setting a percentage difference helps in analyzing the relative position and angle of trendlines.
Filtering by Angle: This feature allows focusing on trendlines within a specific angle range, enhancing the clarity of trend analysis.
BOS & CHOCH Market Structure visuals:
📊 BOS & CHOCH Market Structure Input Settings
📏 Market Structure Length Option
📏Market Structure: Select the market structure length option.
What it is: A dropdown to choose between INTERNAL, EXTERNAL, ALL, CUSTOM, or NONE.
What it does: Sets the type of market structure to be displayed.
How to use it: Choose an option from the dropdown.
Additional Info:
INTERNAL: Only internal structure.
EXTERNAL: Only external structure.
ALL: Both internal and external structures.
CUSTOM: Custom lengths.
NONE: No structure.
🔧 Custom Internal Length
🔧Custom Internal: Specify a custom length for internal market structure.
What it is: An integer input for setting a custom internal length.
What it does: Defines the length of internal market structures if CUSTOM is selected.
How to use it: Enter a custom integer value (only shown when CUSTOM is selected).
💬 Internal Label Size
💬Internal Label Size: Set the label size for internal market structures.
What it is: A dropdown to select the size of the labels.
What it does: Changes the size of the labels for internal market structures.
How to use it: Choose a size from the dropdown (XS, S, M, L, XL).
🟩 Internal Bullish Color
Internal Bullish Color: Set the color for bullish internal market structures.
What it is: A color picker to set the color of bullish internal market structures.
What it does: Changes the color of bullish internal market structures on the chart.
How to use it: Select a color from the color picker.
🟥 Internal Bearish Color
Internal Bearish Color: Set the color for bearish internal market structures.
What it is: A color picker to set the color of bearish internal market structures.
What it does: Changes the color of bearish internal market structures on the chart.
How to use it: Select a color from the color picker.
🔧 Custom External Length
🔧Custom External: Specify a custom length for external market structure.
What it is: An integer input for setting a custom external length.
What it does: Defines the length of external market structures if CUSTOM is selected.
How to use it: Enter a custom integer value (only shown when CUSTOM is selected).
💬 External Label Size
💬External Label Size: Set the label size for external market structures.
What it is: A dropdown to select the size of the labels.
What it does: Changes the size of the labels for external market structures.
How to use it: Choose a size from the dropdown (XS, S, M, L, XL).
🟩 External Bullish Color
External Bullish Color: Set the color for bullish external market structures.
What it is: A color picker to set the color of bullish external market structures.
What it does: Changes the color of bullish external market structures on the chart.
How to use it: Select a color from the color picker.
🟥 External Bearish Color
External Bearish Color: Set the color for bearish external market structures.
What it is: A color picker to set the color of bearish external market structures.
What it does: Changes the color of bearish external market structures on the chart.
How to use it: Select a color from the color picker.
📐 Show Equal Highs and Lows
EQL & EQH📐: Toggle visibility for equal highs and lows.
What it is: A boolean input to show or hide equal highs and lows.
What it does: Displays or hides equal highs and lows on the chart.
How to use it: Check or uncheck the box to enable or disable.
📏 Equal Highs and Lows Threshold
Equal Highs and Lows Threshold: Set the threshold for equal highs and lows.
What it is: A float input to set the threshold for equal highs and lows.
What it does: Defines the range within which highs and lows are considered equal.
How to use it: Enter a value between 0 and 10.
💬 Label Size for Equal Highs and Lows
💬Label Size for Equal Highs and Lows: Set the label size for equal highs and lows.
What it is: A dropdown to select the size of the labels.
What it does: Changes the size of the labels for equal highs and lows.
How to use it: Choose a size from the dropdown (XS, S, M, L, XL).
🟩 Bullish Color for Equal Highs and Lows
Bullish Color for Equal Highs and Lows: Set the color for bullish equal highs and lows.
What it is: A color picker to set the color of bullish equal highs and lows.
What it does: Changes the color of bullish equal highs and lows on the chart.
How to use it: Select a color from the color picker.
🟥 Bearish Color for Equal Highs and Lows
Bearish Color for Equal Highs and Lows: Set the color for bearish equal highs and lows.
What it is: A color picker to set the color of bearish equal highs and lows.
What it does: Changes the color of bearish equal highs and lows on the chart.
How to use it: Select a color from the color picker.
📏 Show Swing Points
Swing Points📏: Toggle visibility for swing points.
What it is: A boolean input to show or hide swing points.
What it does: Displays or hides swing points on the chart.
How to use it: Check or uncheck the box to enable or disable.
📏 Swing Points Length Option
Swing Points Length Option: Select the length for swing points.
What it is: A dropdown to choose between SHORT, MID, LONG, or CUSTOM.
What it does: Sets the length of swing points.
How to use it: Choose an option from the dropdown.
Additional Info: Default lengths are SHORT=10, MID=28, LONG=50.
💬 Swing Points Label Size
💬Swing Points Label Size: Set the label size for swing points.
What it is: A dropdown to select the size of the labels.
What it does: Changes the size of the labels for swing points.
How to use it: Choose a size from the dropdown (XS, S, M, L, XL).
🎨 Swing Points Color
Swing Points Color: Set the color for swing points.
What it is: A color picker to set the color of swing points.
What it does: Changes the color of swing points on the chart.
How to use it: Select a color from the color picker.
🔧 Custom Swing Points Length
🔧Custom Swings: Specify a custom length for swing points.
What it is: An integer input for setting a custom length for swing points.
What it does: Defines the length of swing points if CUSTOM is selected.
How to use it: Enter a custom integer value (only shown when CUSTOM is selected).
Additional Information
Market Structure Types: Understanding internal and external structures helps in analyzing different market behaviors.
Equal Highs and Lows: This feature identifies areas where price action is balanced, which can be significant for trading strategies.
Swing Points: Highlighting swing points aids in recognizing significant market reversals or continuations.
Benefits
Enhance your trading strategy by visualizing smart money's influence on price movements.
Make informed decisions with real-time data on significant market structures.
Reduce manual analysis with automated detection of key trading signals.
Ideal For
Traders looking for an edge in forex, equities, and cryptocurrency markets by understanding the underlying forces driving market dynamics.
Acknowledgements
Special thanks to these amazing creators for inspiration and their creations:
I want to thank these amazing creators for creating there amazing indicators , that inspired me and also gave me a head start by making this indicator! Without their amazing indicators it wouldn't be possible!
Flux Charts: Volumized Order Blocks
LuxAlgo: Trend Lines
UAlgo: Fair Value Gaps (FVG)
By Leviathan: Market Structure
Sonarlab: Liquidity Levels
Note
Remember to always backtest the indicator first before integrating it into your strategy! For any questions about the indicator, please feel free to ask for assistance.
Swing Pivots [UkutaLabs]█ OVERVIEW
The Swing Pivots indicator uses relevant price-action information to identify key levels of Support and Resistance. Traders will be able to use current day Swing Pivots as well as mirror higher time frame Swing Pivots to gain a stronger understanding of overall market strength and key levels.
The aim of this script is to improve the users trading experience by offering a versatile toolkit that can be used in a wide variety of trading strategies to help simplify the complexities of the market.
█ USAGE
Throughout the trading day, the script will automatically identify key High and Low levels in the market based on currently relevant price action information, giving users potentially strong support and resistance levels which serve to guide the trader throughout the complexities in the market.
The script will also Identify powerful Order Blocks which are clusters of orders executed at a specific price level which represent an imbalance between supply and demand. By identifying Order Blocks, the script can indicate valuable supply and demand zones which help signal potential market turning points for the trader.
Furthermore, the script allows the user to mirror higher time frame Swing Pivots onto lower time frame charts to gain a stronger understanding of overall market strength and key levels on multiple time frames from a single chart.
█ SETTINGS
Configuration
Pivot Strength: Determines the sensitivity of the pivot calculation. A higher strength will result in less pivots being drawn, and a lower strength will result in more pivots being drawn.
Current Time frame
• Display: Determines whether or not Swing Pivots from the current time frame will be drawn on the chart.
5 Minute (Higher Time Frame)
• Display: Determines whether or not Swing Pivots from the 5 minute time frame will be drawn on the chart.
15 Minute (Higher Time Frame)
• Display: Determines whether or not Swing Pivots from the 15 minute time frame will be drawn on the chart.
30 Minute (Higher Time Frame)
• Display: Determines whether or not Swing Pivots from the 30 minute time frame will be drawn on the chart.
1 Hour (Higher Time Frame)
• Display: Determines whether or not Swing Pivots from the 1 hour time frame will be drawn on the chart.
4 Hour (Higher Time Frame)
• Display: Determines whether or not Swing Pivots from the 4 hour time frame will be drawn on the chart.
Daily (Higher Time Frame)
• Display: Determines whether or not Swing Pivots from the daily time frame will be drawn on the chart.
FVG & IFVG ICT [TradingFinder] Inversion Fair Value Gap Signal🔵 Introduction
🟣 Fair Value Gap (FVG)
To spot a Fair Value Gap (FVG) on a chart, you need to perform a detailed candle-by-candle analysis.
Here’s the process :
Focus on Candles with Large Bodies : Identify a candle with a substantial body and examine it alongside the preceding candle.
Check Surrounding Candles : The candles immediately before and after the central candle should have long shadows.
Ensure No Overlap : The bodies of the candles before and after the central candle should not overlap with the body of the central candle.
Determine the FVG Range : The gap between the shadows of the first and third candles forms the FVG range.
🟣 ICT Inversion Fair Value Gap (IFVG)
An ICT Inversion Fair Value Gap, also known as a reverse FVG, is a failed fair value gap where the price does not respect the gap. An IFVG forms when a fair value gap fails to hold the price and the price moves beyond it, breaking the fair value gap.
This marks the initial shift in price momentum. Typically, when the price moves in one direction, it respects the fair value gaps and continues its trend.
However, if a fair value gap is violated, it acts as an inversion fair value gap, indicating the first change in price momentum, potentially leading to a short-term reversal or a subsequent change in direction.
🟣 Bullish Inversion Fair Value Gap (Bullish IFVG)
🟣 Bearish Inversion Fair Value Gap (Bearish IFVG)
🔵 How to Use
🟣 Identify an Inversion Fair Value Gap
To identify an IFVG, you first need to recognize a fair value gap. Just as fair value gaps come in two types, inversion fair value gaps also fall into two categories:
🟣 Bullish Inversion Fair Value Gap
A bullish IFVG is essentially a bearish fair value gap that is invalidated by the price closing above it.
Here’s how to identify it :
Identify a bearish fair value gap.
When the price closes above this bearish fair value gap, it transforms into a bullish inversion fair value gap.
This gap acts as support for the price and drives it upwards, indicating a reduction in sellers' strength and an initial shift in momentum towards buyers.
🟣 Bearish Inversion Fair Value Gap
A bearish IFVG is primarily a bullish fair value gap that fails to hold the price, with the price closing below it.
Here’s how to identify it :
Identify a bullish fair value gap.
When the price closes below this gap, it becomes a bearish inversion fair value gap.
This gap acts as resistance for the price, pushing it downwards. A bearish inversion fair value gap signifies a decrease in buyers' momentum and an increase in sellers' strength.
🔵 Setting
🟣 Global Setting
Show All FVG : If it is turned off, only the last FVG will be displayed.
S how All Inversion FVG : If it is turned off, only the last FVG will be displayed.
FVG and IFVG Validity Period (Bar) : You can specify the maximum time the FVG and the IFVG remains valid based on the number of candles from the origin.
Switching Colors Theme Mode : Three modes "Off", "Light" and "Dark" are included in this parameter. "Light" mode is for color adjustment for use in "Light Mode".
"Dark" mode is for color adjustment for use in "Dark Mode" and "Off" mode turns off the color adjustment function and the input color to the function is the same as the output color.
🟣 Logic Setting
FVG Filter
When utilizing FVG filtering, the number of identified FVG areas undergoes refinement based on a specified algorithm. This process helps to focus on higher quality signals and eliminate noise.
Here are the types of FVG filters available :
Very Aggressive Filter : Introduces an additional condition to the initial criteria. For an upward FVG, the highest price of the last candle must exceed the highest price of the middle candle. Similarly, for a downward FVG, the lowest price of the last candle should be lower than the lowest price of the middle candle. This mode minimally filters out FVGs.
Aggressive Filter : Builds upon the Very Aggressive mode by considering the size of the middle candle. It ensures the middle candle is not too small, thereby eliminating more FVGs compared to the Very Aggressive mode.
Defensive Filter : In addition to the conditions of the Very Aggressive mode, the Defensive mode incorporates criteria regarding the size and structure of the middle candle. It requires the middle candle to have a substantial body, with specific polarity conditions for the second and third candles relative to the first candle's direction. This mode filters out a significant number of FVGs, focusing on higher-quality signals.
Very Defensive Filter : Further refines filtering by adding conditions that the first and third candles should not be small-bodied doji candles. This stringent mode eliminates the majority of FVGs, retaining only the highest quality signals.
Mitigation Level FVG and IFVG : Its inputs are one of "Proximal", "Distal" or "50 % OB" modes, which you can enter according to your needs. The "50 % OB" line is the middle line between distal and proximal.
🟣 Display Setting
Show Bullish FVG : Enables the display of demand-related boxes, which can be toggled on or off.
Show Bearish FVG : Enables the display of supply-related boxes along the path, which can also be toggled on or off.
Show Bullish IFVG : Enables the display of demand-related boxes, which can be toggled on or off.
Show Bearish IFVG : Enables the display of supply-related boxes along the path, which can also be toggled on or off.
🟣 Alert Setting
Alert FVG Mitigation : If you want to receive the alert about FVG's mitigation after setting the alerts, leave this tick on. Otherwise, turn it off.
Alert Inversion FVG Mitigation : If you want to receive the alert about Inversion FVG's mitigation after setting the alerts, leave this tick on. Otherwise, turn it off.
Message Frequency : This parameter, represented as a string, determines the frequency of announcements. Options include: 'All' (triggers the alert every time the function is called), 'Once Per Bar' (triggers the alert only on the first call within the bar), and 'Once Per Bar Close' (activates the alert only during the final script execution of the real-time bar upon closure). The default setting is 'Once per Bar'.
Show Alert time by Time Zone : The date, hour, and minute displayed in alert messages can be configured to reflect any chosen time zone. For instance, if you prefer London time, you should input 'UTC+1'. By default, this input is configured to the 'UTC' time zone.
Display More Info : The 'Display More Info' option provides details regarding the price range of the order blocks (Zone Price), along with the date, hour, and minute. If you prefer not to include this information in the alert message, you should set it to 'Off'.
ICT Balance Price Range [UAlgo]The "ICT Balance Price Range " indicator identifies and visualizes potential balance price ranges (BPRs) on a price chart. These ranges are indicative of periods where the market exhibits balance between bullish and bearish forces, often preceding significant price movements.
🔶 What is Balanced Price Range (BPR) ?
Balanced Price Range is a concept based on Fair Value Gap. Balanced price range (BPR) is the area on price chart where two opposite fair value gaps overlap.
When price approaches the Balanced Price Range (BPR), we assume that the price will react quickly and strongly here. This is because its the combination of two fair value gaps and being a good point of interest for smart money traders.
🔶 Key Features:
Bars to Consider: Determines the number of bars to evaluate for BPR conditions.
Threshold for BPR: Sets the minimum range required for a valid BPR to be identified.
Remove Old BPR: Option to automatically remove invalidated BPRs from the chart.
Bearish/Bullish Box Color: Customizable colors for visual representation of bearish and bullish BPRs.
🔶 Disclaimer
This indicator is provided for educational and informational purposes only.
It should not be considered as financial advice or a recommendation to buy or sell any financial instrument.
The use of this indicator involves inherent risks, and users should employ their own judgment and conduct their own research before making any trading decisions. Past performance is not indicative of future results.
🔷 Related Scripts
Fair Value Gaps (FVG)
Fair Value Gaps Setup 01 [TradingFinder] FVG Absorption + CHoCH🔵 Introduction
🟣 Market Structures
Market structures exhibit a fractal and nested nature, which leads us to classify them into internal (minor) and external (major) categories. Definitions of market structure vary, with different methodologies such as Smart Money and ICT offering distinct interpretations.
To identify market structure, the initial step involves examining key highs and lows. An uptrend is characterized by successive highs and lows that are higher than their predecessors. Conversely, a downtrend is marked by successive lows and highs that are lower than their previous counterparts.
🟣 Market Trends and Movements
Market trends consist of two primary types of movements :
Impulsive Movements : These movements align with the main trend and are characterized by high strength and momentum.
Corrective Movements : These movements counter the main trend and are marked by lower strength and momentum.
🟣 Break of Structure (BOS)
In a downtrend, a Break of Structure (BOS) occurs when the price falls below the previous low and establishes a new low (LL). In an uptrend, a BOS, also known as a Market Structure Break (MSB), happens when the price rises above the last high.
To confirm a trend, at least one BOS is necessary, which requires the price to close at least one candle beyond the previous high or low.
🟣 Change of Character (CHOCH)
Change of Character (CHOCH) is a crucial concept in market structure analysis, indicating a shift in trend. A trend concludes with a CHOCH, also referred to as a Market Structure Shift (MSS).
For example, in a downtrend, the price continues to drop with BOS, showcasing the trend's strength. However, when the price rises and exceeds the last high, a CHOCH occurs, signaling a potential transition from a downtrend to an uptrend.
It is essential to note that a CHOCH does not immediately indicate a buy trade. Instead, it is prudent to wait for a BOS in the upward direction to confirm the uptrend. Unlike BOS, a CHOCH confirmation does not require a candle to close; merely breaking the previous high or low with the candle's wick is sufficient.
🟣 Spike | Inefficiency | Imbalance
All these terms mean fast price movement in the shortest possible time.
🟣 Fair Value Gap (FVG)
To pinpoint the "Fair Value Gap" (FVG) on a chart, a detailed candle-by-candle analysis is necessary. This process involves focusing on candles with substantial bodies and evaluating them in relation to the candles immediately before and after them.
Here are the steps :
Identify the Central Candle : Look for a candle with a large body.
Examine Adjacent Candles : The candles before and after this central candle should have long shadows, and their bodies must not overlap with the body of the central candle.
Determine the FVG Range : The distance between the shadows of the first and third candles defines the FVG range.
This method helps in accurately identifying the Fair Value Gap, which is crucial for understanding market inefficiencies and potential price movements.
🟣 Setup
This setup is based on Market Structure and FVG. After a change of character and the formation of FVG in the last lag of the price movement, we are looking for trading positions in the price pullback.
Bullish Setup :
Bearish Setup :
🔵 How to Use
After forming the setup, you can enter the trade using a pending order or after receiving confirmation. To increase the probability of success, you can adjust the pivot period market structure settings or modify the market movement coefficient in the formation leg of the FVG.
Bullish Setup :
Bearish Setup :
🔵 Setting
Pivot Period of Market Structure Detector :
This parameter allows you to configure the zigzag period based on pivots. Adjusting this helps in accurately detecting order blocks.
Show major Bullish ChoCh Lines :
You can toggle the visibility of the Demand Main Zone and "ChoCh" Origin, and customize their color as needed.
Show major Bearish ChoCh Lines :
Similar to the Demand Main Zone, you can control the visibility and color of the Supply Main Zone and "ChoCh" Origin.
FVG Detector Multiplier Factor :
This feature lets you adjust the size of the moves forming the Fair Value Gaps (FVGs) using the Average True Range (ATR). The default value is 1, suitable for identifying most setups. Adjust this value based on the specific symbol and market for optimal results.
FVG Validity Period :
This parameter defines the validity period of an FVG in terms of the number of candles. By default, an FVG remains valid for up to 15 candles, but you can adjust this period as needed.
Mitigation Level FVG :
This setting establishes the basic level of an FVG. When the price reaches this level, the FVG is considered mitigated.
Level in Low-Risk Zone :
This feature aims to reduce risk by dividing the FVG into two equal areas: "Premium" (upper area) and "Discount" (lower area). For lower risk, ensure that "Demand FVG" is in the "Discount" area and "Supply FVG" in the "Premium" area. This feature is off by default.
Show or Hide :
Given the potential abundance of setups, displaying all on the chart can be overwhelming. By default, only the last setup is shown, but you can enable the option to view all setups.
Alert Settings :
On / Off : Toggle alerts on or off.
Message Frequency : Determine how often alerts are triggered.
Options include :
"All" (alerts every time the function is called)
"Once Per Bar" (alerts only on the first call within the bar)
"Once Per Bar Close" (alerts only at the last script execution of the real-time bar upon closing)
The default setting is "Once Per Bar".
Show Alert Time by Time Zone : Set the alert time based on your preferred time zone, such as "UTC-4" for New York time. The default is "UTC".
Display More Info : Optionally show additional details like the price range of the order blocks and the date, hour, and minute in the alert message. Set this to "Off" if you prefer not to receive this information.
Inversion Fair Value Gap Screener | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Inverse Fair Value Gap Screener! This screener can provide information about the latest Inverse Fair Value Gaps in up to 5 tickers. You can also customize the algorithm that finds the Inverse Fair Value Gaps and the styling of the screener.
Features of the new Inverse Fair Value Gap (IFVG) Screener :
Find Latest Inverse Fair Value Gaps Across 5 Tickers
Shows Their Information Of :
Latest Status
Number Of Retests
Consumption Percent
Volume
Customizable Algorithm / Styling
📌 HOW DOES IT WORK ?
A Fair Value Gap generally occur when there is an imbalance in the market. They can be detected by specific formations within the chart. An Inverse Fair Value Gap is when a FVG becomes invalidated, thus reversing the direction of the FVG.
IFVGs get consumed when a Close / Wick enters the IFVG zone. Check this example:
This screener then finds Fair Value Gaps across 5 different tickers, and shows the latest information about them.
Status ->
Far -> The current price is far away from the IFVG.
Approaching ⬆️/⬇️ -> The current price is approaching the IFVG, and the direction it's approaching from.
Inside -> The price is currently inside the IFVG.
Retests -> Retest means the price tried to invalidate the IFVG, but failed to do so. Here you can see how many times the price retested the IFVG.
Consumed -> IFVGs get consumed when a Close / Wick enters the IFVG zone. For example, if the price hits the middle of the IFVG zone, the zone is considered 50% consumed.
Volume -> Volume of a IFVG is essentially the volume of the bar that broke the original FVG that formed it.
🚩UNIQUENESS
This screener can detect latest Inverse Fair Value Gaps and give information about them for up to 5 tickers. This saves the user time by showing them all in a dashboard at the same time. The screener also uniquely shows information about the number of retests and the consumed percent of the IFVG, as well as it's volume. We believe that this extra information will help you spot reliable IFVGs easier.
⚙️SETTINGS
1. Tickers
You can set up to 5 tickers for the screener to scan Fair Value Gaps here. You can also enable / disable them and set their individual timeframes.
2. General Configuration
FVG Zone Invalidation -> Select between Wick & Close price for FVG Zone Invalidation.
IFVG Zone Invalidation -> Select between Wick & Close price for IFVG Zone Invalidation. This setting also switches the type for IFVG consumption.
Zone Filtering -> With "Average Range" selected, algorithm will find FVG zones in comparison with average range of last bars in the chart. With the "Volume Threshold" option, you may select a Volume Threshold % to spot FVGs with a larger total volume than average.
FVG Detection -> With the "Same Type" option, all 3 bars that formed the FVG should be the same type. (Bullish / Bearish). If the "All" option is selected, bar types may vary between Bullish / Bearish.
Detection Sensitivity -> You may select between Low, Normal or High FVG detection sensitivity. This will essentially determine the size of the spotted FVGs, with lower sensitivities resulting in spotting bigger FVGs, and higher sensitivities resulting in spotting all sizes of FVGs.
Fair Value Gap Screener | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Fair Value Gap Screener! This screener can provide information about the latest Fair Value Gaps in up to 5 tickers. You can also customize the algorithm that finds the Fair Value Gaps and the styling of the screener.
Features of the new Fair Value Gap (FVG) Screener :
Find Latest Fair Value Gaps Accross 5 Tickers
Shows Their Information Of :
Latest Status
Number Of Retests
Consumption Percent
Bullish & Bearish Volume
Customizable Algoritm / Styling
📌 HOW DOES IT WORK ?
A Fair Value Gap generally occur when there is an imbalance in the market. They can be detected by specific formations within the chart. This screener then finds Fair Value Gaps accross 5 different tickers, and shows the latest information about them.
Status ->
Far -> The current price is far away from the FVG.
Approaching ⬆️/⬇️ -> The current price is approaching the FVG, and the direction it's approaching from.
Inside -> The price is currently inside the FVG.
Retests -> Retest means the price tried to invalidate the FVG, but failed to do so. Here you can see how many times the price retested the FVG.
Consumed -> FVGs get consumed when a Close / Wick enters the FVG zone. For example, if the price hits the middle of the FVG zone, the zone is considered 50% consumed.
Bullish / Bearish Volume -> Bullish & Bearish volume of a FVG is calculated by analyzing the bars that formed it. For example in a bullish FVG, the bullish volume is the total volume of the first 2 bars forming the FVG, and the bearish volume is the volume of the 3rd bar that forms it.
🚩UNIQUENESS
This screener can detect latest Fair Value Gaps and give information about them for up to 5 tickers. This saves the user time by showing them all in a dashboard at the same time. The screener also uniquely shows information about the number of retests and the consumed percent of the FVG, as well as it's bullish & bearish volume. We believe that this extra information will help you spot reliable FVGs easier.
⚙️SETTINGS
1. Tickers
You can set up to 5 tickers for the screener to scan Fair Value Gaps here. You can also enable / disable them and set their individual timeframes.
2. General Configuration
Zone Invalidation -> Select between Wick & Close price for FVG Zone Invalidation.
Zone Filtering -> With "Average Range" selected, algorithm will find FVG zones in comparison with average range of last bars in the chart. With the "Volume Threshold" option, you may select a Volume Threshold % to spot FVGs with a larger total volume than average.
FVG Detection -> With the "Same Type" option, all 3 bars that formed the FVG should be the same type. (Bullish / Bearish). If the "All" option is selected, bar types may vary between Bullish / Bearish.
Detection Sensitivity -> You may select between Low, Normal or High FVG detection sensitivity. This will essentially determine the size of the spotted FVGs, with lower sensitivies resulting in spotting bigger FVGs, and higher sensitivies resulting in spotting all sizes of FVGs.
Fibonacci Inversion Fair Value Gaps | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Fibonacci Inversion Fair Value Gaps (IFVG) indicator! Inverse Fair Value Gaps occur when a Fair Value Gap becomes invalidated. They reverse the role of the original Fair Value Gap, making a bullish zone bearish and vice versa. This indicator plots the Fibonacci retracement levels of the IFVG, which often act like support & resistance levels.
Features of the new Fibonacci IFVGs Indicator :
Renders Bullish / Bearish IFVG Zones
Renders Fibonacci Retracement Levels Of IFVGs
Combination Of Overlapping FVG Zones
Variety Of Zone Detection / Sensitivity / Filtering / Invalidation Settings
High Customizability
🚩UNIQUENESS
This indicator stands out with its ability to render up to 3 Fibonacci retracement levels of IFVGs. Fibonacci retracement levels are widely used within trading, and we wanted to implement them for IFVG zones. You can also customize the FVG Filtering method, FVG & IFVG Zone Invalidation, Detection Sensitivity etc. according to your needs to get the best performance from the indicator.
📌 HOW DOES IT WORK ?
A Fair Value Gap generally occur when there is an imbalance in the market. They can be detected by specific formations within the chart. An Inverse Fair Value Gap is when a FVG becomes invalidated, thus reversing the direction of the FVG.
This indicator renders 0.618, 0.5 and 0.382 (can be changed from the settings) Fibonacci retracement levels of the IFVGs, which often act as support and resistances. Check this example :
⚙️SETTINGS
1. General Configuration
FVG Zone Invalidation -> Select between Wick & Close price for FVG Zone Invalidation.
IFVG Zone Invalidation -> Select between Wick & Close price for IFVG Zone Invalidation. This setting also switches the type for IFVG consumption.
Zone Filtering -> With "Average Range" selected, algorithm will find FVG zones in comparison with average range of last bars in the chart. With the "Volume Threshold" option, you may select a Volume Threshold % to spot FVGs with a larger total volume than average.
FVG Detection -> With the "Same Type" option, all 3 bars that formed the FVG should be the same type. (Bullish / Bearish). If the "All" option is selected, bar types may vary between Bullish / Bearish.
Detection Sensitivity -> You may select between Low, Normal or High FVG detection sensitivity. This will essentially determine the size of the spotted FVGs, with lower sensitivies resulting in spotting bigger FVGs, and higher sensitivies resulting in spotting all sizes of FVGs.
Show Historic Zones -> If this option is on, the indicator will render invalidated IFVG zones as well as current IFVG zones. For a cleaner look at current IFVG zones which are not invalidated yet, you can turn this option off.
2. Fibonacci Retracement Levels
You can enable / disable up to 3 different Fibonnaci Retracement levels at this group of settings. You can also switch their line styles between solid, dashed and dotted as well as changing their colors.
Inversion Fair Value Gap Consumption | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Inversion Fair Value Gap Consumption (IFVG) indicator! Inversion Fair Value Gaps occur when a Fair Value Gap becomes invalidated. They reverse the role of the original Fair Value Gap, making a bullish zone bearish and vice versa. IFVGs get "consumed" when market orders fill the gap occurred. With this indicator, you can now see the percentage of the IFVG's consumed part. For more information about the process, read the "HOW DOES IT WORK" section of the description.
Features of the new Consumption IFVG Indicator :
Render Bullish / Bearish IFVG Zones
See The Consumed Part Of The IFVG Zones
Combination Of Overlapping FVG Zones
Variety Of Zone Detection / Sensitivity / Filtering / Invalidation Settings
High Customizability
🚩UNIQUENESS
This indicator stands out with its ability to render the consumed part of IFVGs. You can see how much of the IFVG's gap is filled, with it's percentage. Also the ability to combine overlapping FVG zones will result in cleaner charts for traders. You can customize the FVG Filtering method, FVG & IFVG Zone Invalidation, Detection Sensitivity etc. according to your needs to get the best performance from the indicator.
📌 HOW DOES IT WORK ?
A Fair Value Gap generally occur when there is an imbalance in the market. They can be detected by specific formations within the chart. An Inversion Fair Value Gap is when a FVG becomes invalidated, thus reversing the direction of the FVG.
IFVGs get consumed when a Close / Wick enters the IFVG zone. Check this example:
⚙️SETTINGS
1. General Configuration
FVG Zone Invalidation -> Select between Wick & Close price for FVG Zone Invalidation.
IFVG Zone Invalidation -> Select between Wick & Close price for IFVG Zone Invalidation. This setting also switches the type for IFVG consumption.
Zone Filtering -> With "Average Range" selected, algorithm will find FVG zones in comparison with average range of last bars in the chart. With the "Volume Threshold" option, you may select a Volume Threshold % to spot FVGs with a larger total volume than average.
FVG Detection -> With the "Same Type" option, all 3 bars that formed the FVG should be the same type. (Bullish / Bearish). If the "All" option is selected, bar types may vary between Bullish / Bearish.
Detection Sensitivity -> You may select between Low, Normal or High FVG detection sensitivity. This will essentially determine the size of the spotted FVGs, with lower sensitivies resulting in spotting bigger FVGs, and higher sensitivies resulting in spotting all sizes of FVGs.
Show Historic Zones -> If this option is on, the indicator will render invalidated IFVG zones as well as current IFVG zones. For a cleaner look at current IFVG zones which are not invalidated yet, you can turn this option off.
Inversion Fair Value Gaps | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Inversion Fair Value Gaps (IFVG) indicator! Inversion Fair Value Gaps occur when a Fair Value Gap becomes invalidated. They reverse the role of the original Fair Value Gap, making a bullish zone bearish and vice versa. With this indicator, you can now see the volume of the bar that invalidated the FVG, which is also the bar that IFVG occurred. For more information about the process, read the " HOW DOES IT WORK " section of the description.
Features of the IFVG Indicator :
Render Bullish / Bearish IFVG Zones
See The Occurrence Volume Of The IFVG Zones
Combination Of Overlapping FVG Zones
Variety Of Zone Detection / Sensitivity / Filtering / Invalidation Settings
High Customizability
🚩UNIQUENESS
This indicator stands out with its ability to render the occurrence volume of IFVGs. Also the ability to combine overlapping FVG zones will result in cleaner charts for traders. You can customize the FVG Filtering method, FVG & IFVG Zone Invalidation, Detection Sensitivity etc. according to your strategy to get the best performance from the indicator.
📌 HOW DOES IT WORK ?
A Fair Value Gap generally occur when there is an imbalance in the market. They can be detected by specific formations within the chart. An Inversion Fair Value Gap is when a FVG becomes invalidated, thus reversing the direction of the FVG.
⚙️SETTINGS
1. General Configuration
FVG Zone Invalidation -> Select between Wick & Close price for FVG Zone Invalidation.
IFVG Zone Invalidation -> Select between Wick & Close price for IFVG Zone Invalidation.
Zone Filtering -> With "Average Range" selected, algorithm will find FVG zones in comparison with average range of last bars in the chart. With the "Volume Threshold" option, you may select a Volume Threshold % to spot FVGs with a larger total volume than average.
FVG Detection -> With the "Same Type" option, all 3 bars that formed the FVG should be the same type. (Bullish / Bearish). If the "All" option is selected, bar types may vary between Bullish / Bearish.
Detection Sensitivity -> You may select between Low, Normal or High FVG detection sensitivity. This will essentially determine the size of the spotted FVGs, with lower sensitivies resulting in spotting bigger FVGs, and higher sensitivies resulting in spotting all sizes of FVGs.
Show Historic Zones -> If this option is on, the indicator will render invalidated IFVG zones as well as current IFVG zones. For a cleaner look at current IFVG zones which are not invalidated yet, you can turn this option off.
Candle Strength AnalysisView candles differently with this new indicator designed to simply visualise and analyse price movements on your chart!
The more vibrant the colour, the stronger the conviction of its respective candle.
This simple script calculates the closing price as a percentage within the candles high/low range. A colour/strength rating is then assigned to the candle based on where this close price sits within the range.
Strong coloured candles occur when the close is very close to a high or low.
User defined percentage and colour inputs allow for quick personalisation and flexibility.
An additional wick imbalance feature identifies when a candle has a larger wick than its body, which may be used to identify a ranging market or shift in trader sentiment.
For any questions, concerns, or requests, please reach out to me in the comments below.
- The Pine Guru
Trend Flow Profile [AlgoAlpha]Description:
The "Trend Flow Profile" indicator is a powerful tool designed to analyze and interpret the underlying trends and reversals in a financial market. It combines the concepts of Order Flow and Rate of Change (ROC) to provide valuable insights into market dynamics, momentum, and potential trade opportunities. By integrating these two components, the indicator offers a comprehensive view of market sentiment and price movements, facilitating informed trading decisions.
Rationale:
The combination of Order Flow and ROC in the "Trend Flow Profile" indicator stems from the recognition that both factors play critical roles in understanding market behavior. Order Flow represents the net buying or selling pressure in the market, while ROC measures the rate at which prices change. By merging these elements, the indicator captures the interplay between market participants' actions and the momentum of price movements, enabling traders to identify trends, spot reversals, and gauge the strength of price acceleration or deceleration.
Calculation:
The Order Flow component is computed by summing the volume when prices move up and subtracting the volume when prices move down. This cumulative measure reflects the overall order imbalance in the market, providing insights into the dominant buying or selling pressure.
The ROC component calculates the percentage change in price over a given period. It compares the current price to a previous price and expresses the change as a percentage. This measurement indicates the velocity and direction of price movement, allowing traders to assess the market's momentum.
How to Use It?
The "Trend Flow Profile" indicator offers valuable information to traders for making informed trading decisions. It enables the identification of underlying trends and potential reversals, providing a comprehensive view of market sentiment and momentum. Here are some key ways to utilize the indicator:
Spotting Trends: The indicator helps identify the prevailing market trend, whether bullish or bearish. A consistent positive (green) histogram indicates a strong uptrend, while a consistent negative (red) histogram suggests a robust downtrend.
Reversal Signals: Reversal patterns can be identified when the histogram changes color, transitioning from positive to negative (or vice versa). These reversals can signify potential turning points in the market, highlighting opportunities for counter-trend trades.
Momentum Assessment: By observing the width and intensity of the histogram, traders can assess the acceleration or deceleration of price momentum. A wider histogram suggests strong momentum, while a narrower histogram indicates a potential slowdown.
Utility:
The "Trend Flow Profile" indicator serves as a valuable tool for traders, providing several benefits. Traders can easily identify the prevailing market trend, enabling them to align their trading strategies with the dominant direction of the market. The indicator also helps spot potential reversals, allowing traders to anticipate market turning points and capture counter-trend opportunities. Additionally, the green and red histogram colors provide visual cues to determine the optimal duration of a long or short position. Following the green histogram signals when in a long position and the red histogram signals when in a short position can assist traders in managing their trades effectively. Moreover, the width and intensity of the histogram offer insights into the acceleration or deceleration of momentum. Traders can gauge the strength of price movements and adjust their trading strategies accordingly. By leveraging the "Trend Flow Profile" indicator, traders gain a comprehensive understanding of market dynamics, which enhances their decision-making and improves their overall trading outcomes.
HTF Fair Value Gap [LuxAlgo]The HTF Fair Value Gap indicator aims to display the exact time/price locations of fair value gaps within a higher user-selected chart timeframe.
🔶 USAGE
The indicator can be used to detect higher time frame fair value gaps. Detected historical HTF FVG are displayed as changes in chart background colors, with a green color indicating a bullish FVG and red a bearish FVG.
The most recent HTF FVG is displayed as a candle to the right of the most recent price candle. Dashed lines indicate the exact location of the FVG upper and lower extremities.
The wicks of the FVG candle indicate the price deviation from the FVG extremities after its formation and can help determine where the FVG is located within a trend.
A "Status" dashboard is included to indicate if the FVG is mitigated or not. This is also indicated by the border of the FVG candle, with a solid border indicating an unmitigated FVG.
🔶 SETTINGS
Timeframe: Chart timeframe used to retrieve the fair value gaps
🔹 Style
Offset: Offset to the right (in bars) of the FVG candle from the most recent bar.
Width: Width (in bars) of the FVG candle.
🔹 Dashboard
Show Dashboard: Determine whether to display the dashboard or not.
Location: Location of the dashboard on the chart.
Size: Size of the dashboard on the chart.
MAX_MIN_V1
Another simple indicator, maximum, minimum and average values. The point of imbalance in the price of an asset is sought.
It is used for any temporality and in almost any asset.
You can configure the visibility of the different elements.
MTF Fair Value Gap [BigBeluga]The MTF Fair Value Gap (FVG) indicator provides multi-timeframe options to observe lower or higher gaps in different timeframes within your current one. This can enhance the confluence in your trading decisions.
🔶 USAGE
An FVG is formed when a candle has an 'empty' body, leaving a gap. These areas are often filled before the market continues to trend in its original direction.
In practical terms, FVGs serve to highlight support areas (bullish FVGs) and resistance zones (bearish FVGs). As a gap is filled, signaling the end of the existing imbalance, it tends to foreshadow an impending price reversal.
While this approach is inherently contrarian, individuals seeking a more trend-following strategy can opt to use FVG identification as straightforward signals. This entails taking a long position upon detecting a bullish FVG and adopting a short position in the presence of a bearish FVG.
🔹 Mitigation
The mitigation point is where the user selects when the FVG is considered filled or no longer usable.
Source => Choose the candle's low/high or close as the mitigation point.
Point => Choose the FVG's mitigation point to trigger after the candle's Source has filled it. Users can choose between the middle point or the top/bottom of the FVG.
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🔹 MTF
This script can display MTF FVGs from different timeframes while showing the current one. This is extremely useful as it avoids the need to switch timeframes frequently and can add significant confluence with the current FVG.
🔹 Threshold
The Threshold is an input to remove insignificant FVGs that are too small to be truly useful. Users can choose between:
Auto => Automatically remove unusable FVGs.
Manual => Set an automatic Threshold.
🔶 TIPS
Users can choose how many FVGs to display on the current chart for better visualization.
Users can choose which FVGs to display: only the current one, only MTF ones, or both.
