Internal/External Market Structure [UAlgo]The "Internal/External Market Structure " indicator is a tool designed to identify and visualize internal and external market structure based on swing highs and lows. It helps traders understand short-term (internal) and long-term (external) price behavior.
🔶 What are ChoCH and BoS?
Change of Character (ChoCH)
Change of character refers to the reversal of market trend either from bullish to bearish or bearish to bullish. ChoCH is also a break of market structure but in opposite direction.
If market is in bullish trend but it breaks it previous (higher) low and makes a lower low, it will be termed a “bearish change of character” as price changed its trend from bullish to bearish.
Like wise if price is in bearish trend and it breaks its previous (lower) high making a higher high it will be marked as “bullish change of character” as price changed its trend from bearish to bullish.
Break of Structure (BoS)
When price breaks its structure in direction of previous trend its called break of structure (BoS). So its a trend continuation pattern.
As you know in bullish trend price makes higher highs. Each time when price break a previous high and marks a new high its known as bullish break of structure.
But in bearish trend price makes lower lows so every time when price breaks previous low and makes a new low it is called as bearish break of structure.
🔶 Key Features
Internal Swing Length: Allowing for fine-tuning of sensitivity to smaller, more frequent market movements.
External Swing Length: Focusing on capturing broader market trends.
The indicator differentiates between internal and external market structures, using different styles and colors to represent each. Internal structures are shown with solid lines, while external structures use dashed lines, providing clear visual cues.
Internal Market Structure:
The internal market structure focuses on shorter-term swings and is useful for identifying minor trend changes and short-term price movements. Breaks of internal swing highs or lows can indicate potential changes in the market's direction or momentum. The labels "CHoCH" and "BoS" help distinguish between changes in character and break of structure events, respectively.
External Market Structure:
The external market structure captures larger, more significant market moves. It is particularly useful for identifying major trend changes and key support and resistance levels. The dashed lines and corresponding labels "CHoCH+" and "BoS+" indicate more substantial shifts in market sentiment.
For BoS (Break of Structure):
For ChoCH (Change of Character):
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
在腳本中搜尋"smart"
Harmonic Patterns [WinWorld]PREFACE
This indicator was made with the help of our team's fellow friend and harmonic patterns expert, whose support we deeply appreciate — @Muneer_Gove
DESCRIPTION
Harmonic patterns are one the most recognizable and popular trading concepts in the word of trading.
They are distinct formations, found in the financial markets, that predict potential price movements based on Fibonacci ratios. These patterns, which include the Gartley, Bat, Alt Bat, Butterfly and etc., identify specific and repetitive price structures that can forecast future price reversals. By incorporating these patterns into trading process, one does gain an opportunity to profit from repetetitve price movements.
The whole thing about harmonic pattern is the process of finding them. The basic step-by-step guide to build a harmonic pattern is this:
Locate significant highs and lows on the chart, which form the basis of the pattern. The best tools to use for this purple is zigzag, because zigzag indicator draw lines, which will be helpful quite helpful in the process and will save you a lot of time;
Use Fibonacci tools to measure the retracement and extension levels between legs of pattern — distances between pair of points . Each harmonic pattern has specific Fibonacci ratios that define its structure;
Draw lines connecting the pivot points according to the pattern's structure. For example, a Gartley pattern connects five points (X, A, B, C, D) in a specific sequence and ratio;
Ensure that the identified structure adheres to the harmonic pattern’s Fibonacci requirements. If the points align within the acceptable ranges, the pattern is valid.
In order to better understand this process let's see an example of the pattern from our indicator right away:
This is a Butterfly pattern. Its set of retracememt ratios is as follows:
AB/XA = 0.756 to 0.816
BC/AB = 0.382 to 0.990
CD/BC = 1.618 to 2.618
AD/XA = 1.27
Below you can see that each ratio of the pattern is successfully met:
* Note : white lines — ratio range, yellow line — point 's price level in between ranges.
AB/XA Ratio
BC/AB Ratio
CD/BC Ratio
AD/XA Ratio
SETTINGS
Main Settings
Failed Patterns — shows/hides patterns, which meet one of these conditions:
— Price crossed level of point C before reaching PRZ;
— New pattern appeared and PRZ of previous pattern was not reached;
Completed Patterns — shosw/hides patterns, whose PRZ was reached;
Dashboard — shows/hides dashboard, which displays active patterns (patterns, which can be used to trade).
Alert Settings
PRZ — enables/disables alert of event, when price reaches PRZ.
ZigZag Settings
Depth #1-9 — shows/hides patterns of the chosen zigzag copy. Here you can choose customize depth number.
Pattern Visual Controls
Bullish Patterns — shows/hides bullish patterns;
Bearish Patterns — shows/hides bearish patterns;
Pending Patterns — shows/hides patterns, whose PRZ has not been reached yet;
list of pattern names — hides/shows chosen pattern.
Colours
Bullish — colour of bullish patterns;
Bearish — colour of bearish patterns.
IMPORTANT CONCEPTS
PRZ — entry target level.
If its text near the line level is purple, it means that PRZ has NOT been reached yet.
If it is white, it means that PRZ has been reached.
In order for SL or TP to be counted when price reaches, price has to reach PRZ first with its high/low.
SL — stop-loss.
If its near the line level is red, it means that SL has NOT been reached yet.
If it is white, it means that SL has been reached.
If it is gray, it means that SL has been invalidated — price crossed with high/low the level of point C before reaching PRZ.
If SL is reached and price reaches TP targets, they will be counted.
SL of each pattern are built by individual ratio. For example, in Butterfly pattern SL ratio is 1.414 and it is calculated as (SL - A)/XA.
IMPORTANT NOTE : SL is reached when price crosses SL level with candle's close (!)
TP — take-profit.
If its near the line level is green, it means that TP has NOT been reached yet.
If it is white, it means that TP has been reached.
If one of the TP targets is reached and price reached SL, it will not be counted.
IMPORTANT NOTE : TP is reached when price crosses TP level with candle's high/low(!)
TP of each pattern are built by same the ratios for all patterns, but it is calculated by individual algorithm. For example, in the same Butterfly pattern TP ratio will be 0.382, 0.500 and 0.618 and they will be placed as Fibonacci retracement grid from point A to point D ( same for formula for all other patterns, excluding the ones listed next ), BUT on Shark , Muner and AB=CD pattern the same TP will be placed as Fibonacci retracement grid from point C to point D
WHY USE THIS INDICATOR?
Our Harmic Patterns indicator uses zigzag, which is based on depth mechanic. In order to identify the maximum possible amount of patterns this indicator runs 9 copies of the same zigzags with different depth values. Each copy of zigzag can be turned off in the settings individually.
At the moment of publishing, this indicator can autmatically identify 10 patterns:
Crab
Deep Crab
Gartley
Deep Gartley
Bat
Alt Bat
Muner
Butterfly
Shark
AB=CD
Things, that make this indicator different from other harmonic pattern indicator, are:
Advanced pattern recognition and validation process. We have implemeted special logic, which allows the indicator to draw fully accurate patterns, which satisfy industry standards.
For example, let's say we have a bearish pattern. We take points X an A. If there is a price's high, that is above X point's high, such pattern should be automatically invalidated. We have found even one indicator that does perform such validation process, and our indicator does that. . And this is just one example, we have much of such mechanics implemeted thanks to Mr. Muner's knowledge.
Advanced pattern extension mechanics . Right this mechanic applies to only one pattern — Shark. Its classic CD/BC ratio is 0.886, but when price moves in a way so this ratio now equals to 1.13, this signal the indicator to redraw the pattern, based on this new CD/BC ratio. We haven't found any indicator on the market that has such mechanic implemented.
Dashboard for displaying active patterns . On this dashboard you can find patterns, whose SL and TP have not been touched yet. If price touches the SL or TP of the pattern, this pattern is removed from the dashboard, because it is considered finished.
At the moment of publishing this dashboard only shows the patterns from the current timeframe.
Informative alert when price reaches PRZ of the pattern . Many other indicator do not provide details of this event, which requires trader to waste his time on opening up the chart and searching for this event. Our indicator allows trader to see the PRZ price right when alert happens and open up the trade much fastr.
Alert message is made by this template:
, : PRZ was reached at on
Example:
BTCUSDT, long Bat: PRZ was reached at 70,000 on 15m.
ALERTS
At the moment of publishing this indicator offers one alert, which happens when price reaches PRZ level.
HOW CAN I GET THE MOST OUT OF THIS INDICATOR?
This indicator can act as the standalone tool, because PRZ, TP and SL are assigned to each pattern and tracked during the pattern's life period.
You can this indicator with any other strategy or indicator, because this indicator is basically a tool that shows the trader repetitive price formations, after which price tends to go a certaion direction in the most cases, allowing trader to profit from it.
You can try combining Harmonic Patterns indicator with Smart Money tools, made by our team, because Smart Money strategies basically show the most liquid price zones and levels, which can be used to find an entry opportunity and Harmonic Patterns indicator can be added to make a final decision on the entry.
If you are interested in trying these two strategies together, feel free to learn Smart Money trading strategy by reading our Advanced SMC guide, which is available in our eductional materials.
SUMMARY
Harmonic Patterns indicator is an advanced tool of technical analysis, which automatically finds 10 most used harmonic patterns on the chart, assign PRZ, TP and SL targets to them and tracks them during each pattern 'life period'.
While searching for these patterns, this indicator performs series of validation techniques, that allow trader to see only the most valid patterns, which have a higher changes to succeed.
This indicator can be used both as a standalone tool and as 'team player' for any stategy by being the tool, which can be used for making a final decision on an entry target.
AFTERWORD
This indicator has been developed for more than 2 weeks, which consisted of everyday discussions, bug fixes and special additons to the algorithm in order to making patterns more valid, so we really hope you will find a great use of this indicator and it will help you recude time on the analysis and boost your profits :)
We want to express our gratitude to @Muneer_Gove once again, because he has done huge job helping us fine-tuning the algorithm, building complex pattern validatiom and extension logic and fixing bugs. Thank you!
Best of luck , traders!
— with love, WinWorld Team
Order Blocks & Breaker Blocks [TradingFinder] Signals + Alerts🔵 Introduction
Order Block and Breaker Block, are powerful tools in technical analysis. By understanding these concepts, traders can enhance their ability to predict potential price reversals and continuations, leading to more effective trading strategies.
Using historical price action, volume analysis, and candlestick patterns, traders can identify key areas where institutional activities influence market movements.
🟣 Demand Order Block and Supply Breaker Block
Demand Order Block : A Demand Order Block is formed when the price succeeds in breaking the previous high pivot.
Supply Breaker Block : A Supply Breaker Block is formed when the price succeeds in breaking the Demand Order Block. As a result, the Order Block changes its role and turns from the role of price support to resistance.
🟣 Supply Order Block and Demand Breaker Block
Supply Order Block : A Supply Order Block is formed when the price succeeds in breaking the previous low pivot.
Demand Breaker Block : A Demand Breaker Block is formed when the price succeeds in breaking the Supply Order Block. As a result, the Order Block changes its role and turns from the role of price resistance to support.
🔵 How to Use
🟣 Order Blocks (Supply and Demand)
Order blocks are zones where the likelihood of a price reversal is higher. In demand zones, buying opportunities arise, while in supply zones, selling opportunities can be explored.
The "Refinement" feature allows you to adjust the width of the order block to fit your trading strategy. There are two modes in the "Order Block Refine" feature: "Aggressive" and "Defensive." The primary difference between these modes is the width of the order block.
For risk-averse traders, the "Defensive" mode is ideal as it offers a lower loss limit and a higher reward-to-risk ratio.
Conversely, for traders who are willing to take more risks, the "Aggressive" mode is more suitable. This mode, with its wider order block width, caters to those who prefer entering trades at higher prices.
🟣 Breaker Blocks (Supply and Demand)
Trading based on breaker blocks is the same as order blocks and the price in these zones is likely to be reversed.
🔵 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 Order Block : Determining the basic level of a Order Block. When the price hits the basic level, the Order Block due to mitigation.
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.
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.
🟣 Order Block Display
Show All Order Block : If it is turned off, only the last Order Block will be displayed.
Demand Main Order Block : Show or not show and specify color.
Demand Sub (Propulsion & BoS Origin) Order Block : Show or not show and specify color.
Supply Main Order Block : Show or not show and specify color.
Supply Sub (Propulsion & BoS Origin) Order 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.
🟣 Order Block Refinement
Refine Order Blocks : Enable or disable the refinement feature. Mode selection.
🟣 Alert
Alert Name : The name of the alert you receive.
Alert Demand OB Mitigation :
On / Off
Alert Demand BB Mitigation :
On / Off
Alert Supply OB Mitigation :
On / Off
Alert Supply BB 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.
Display More Info :
Displays information about the price range of the order blocks (Zone Price) and the date, hour, and minute under "Display More Info".
If you do not want this information to appear in the received message along with the alert, you should set it to "Off".
Momentum Burst Tools Kit By TradeINskiMomentum Burst Tools Kit By TradeINski
First Things First
- This indicator cuts through the noise and helps you see if a stock's price is swinging more (expansion) or less (contraction) compared to yesterday. When the indicator shows a positive number, it means the stock's price range is wider today than yesterday. Conversely, a negative number indicates the price range is tighter today. And also helps in position sizing with fast and effective solutions.
- Disclaimer: This indicator will not give any buy or sell signal. This is just a supporting tool to improve efficiency in my trading.
- Users can change most of the default options in settings according to their personal preference in settings such as text color, size and table location or to show/hide the specific metrics using “check mark”.
Contents
Capital
- Capital is nothing but account size by default it is 1M.
- This will be helpful by knowing where exactly their account is standing at what value at any given point of time.
- This is also required to calculate quantity based metrics so users should input accordingly.
Risk (%)
- Percentage of risk per trade you are willing to take according to account size or capital.
This helps in knowing what kind of position sizing you're about to take for the following trade. Knowing what is at stake and how much is at stake.
- This is also required to calculate quantity based metrics so users should input according to their trading plan.
Closing Range (CloseR)
- % Level based on current price with respect to today's range.
- Higher the better, Which indicates strength.
Range Expansion (RangeE)
- Today's % range with respect to previous days range. That is nothing but a percentage indicating the change in the daily price range compared to the previous day. Useful for identifying potential volatility shifts and trend continuation or reversal.
- For example if yesterday's range was small and today's range is big that means with respect to yesterday today stock had a range expansion by how much is the value shown here irrespective of the direction. Which helps in breakout scenarios.
SL From LOD/HOD (StopL)
- Here LOD means low of the day and HOD means high of the day.
When %Change is +VE then its low of the day (LOD) value is printed and when %Change is -VE then its high of the day (HOD).
- Because LOD and HOD are important levels where we usually keep our stops as per direction we are trading in. LOD is considered for longs and HOD for shorts as per % change.
SL at Half of day (StopH)
- Half level of today's body is what is printed.
- This helps to know where exactly half of today’s price level is at. Sometimes this can be used as stop loss. That is the Price level representing the midpoint between the day's open and close, commonly used as a reference for setting stop-loss orders.
% Distance From StopL (DisL)
- This will tell us how far we are from LOD/HOD in terms of percentage.
- And Whenever %Change is +VE then LOD is considered for distance and whenever %Change is -VE then HOD is considered. This switch over is done automatically.
- This helps traders to make a decision to conclude whether to make a position or not, Which also helps in determining if the risk reward is favorable hypothetically considering entry at current price and SL as StopL LOD/HOD.
% Distance From StopH (DisH)
- This will tell us how far we are from half price of today's body in terms of percentage.
- This is the distance between current close and price level representing the midpoint between the day's open and close.
- This also helps in determining if the risk reward is favorable hypothetically considering entry at current price and SL as StopH.
Quantity Based on StopL (QtyL)
- Quantity shown here is based on Capital, Risk and considering latest price as entry point and also low of the day (LOD) as stop loss (SL) that is “StopL” as and When %Change is positive and whenever %Change is -VE then high of the day (HOD) is considered as stop loss (SL).
- When %Change is +VE then Capital multiplied Risk (%) divided by close minus today's low this will fetch you desired quantity based on defined capital and risk (%) earlier. Similarly when %Change is -VE instead of close minus low, today’s high minus close is considered for determining the quantity.
- This is printed in real time and switchover is done automatically between high and low based on %Change. A result of which Position SIze calculation is done is a jiffy.
Quantity Based on StopH (QtyL)
- Quantity shown here is based on Capital, Risk which are defined earlier and considering latest price as entry point and also half of the day (StopH) )as stop loss (SL). A result of which Position SIze calculation is done is a jiffy.
This script empowers traders by giving them a clear view of daily price changes. With this knowledge, they can make smarter trading choices based on important price movements. Plus, it can be customized to fit how you like to trade, making it user-friendly and adaptable to different trading styles.
*****
Swing Suite (SMT/Divergences + Gann Swings)Hello Traders!
TRN Swing Suite (SMT/Divergences + Gann Swings) is an indicator which identifies, and highlights pivot points (swings) and prints a lot of information about the swings in the chart (e.g. length, duration, cumulative Delta, ...). Furthermore, it detects divergences in connection with any given indicator, even custom ones. In addition to this, you can choose the algorithm to compute the swings. The famous Gann-Swing algorithm and the extremely precise TRN Swing algorithm (called Standard) are available for selection, as well as two other variants. Compared to other swing or zig-zag indicators it works in real-time, does not need a look-a-head to find swings and is not repainting. Moreover, equal (double) highs and lows are detected and displayed. The TRN Swing Suite helps traders to visualize the pure price action and identify key turning points or trends. The indicator comes with the following features:
Precise real-time swing detection without repainting
Divergence detecting for any given (custom) indicator - with 11 different preset indicators
SMT (Smart Money Technique)/Divergence detecting in relation to other instruments
Swing Performance Statistics
Swing support and resistance levels
Swing trend for multiple swing sizes
Equal/double high and low detection
4 different swing computation styles
Displaying of swing labels, values and information
Customizable settings as well as look and feel
It's important to note that the TRN Swing Suite is a visual tool and does not provide specific buy or sell signals. It serves as a guide for traders to analyze market structure in depth and make well-informed trading decisions based on their trading strategy and additional technical analysis.
Divergence Detection for any given (Custom) Indicator
The divergence detector finds with unrivaled precision bullish and bearish as well as regular and hidden divergences. The main difference compared to other divergences indicators is that this indicator finds rigorously the extreme peaks of each swing, both in price and in the corresponding indicator. This precision is unmatched and therefore this is one of the best divergences detectors.
The build in divergence detector works with any given indicator, even custom ones. In addition, there are 11 built-in indicators. Most noticeable is the cumulative delta indicator, which works astonishingly well as a divergence indicator. Full list:
External Indicator (see next section for the setup)
Awesome Oscillator (AO)
Commodity Channel Index (CCI)
Cumulative Delta Volume (CDV)
Chaikin Money Flow (CMF)
Moving Average Convergence Divergence (MACD)
Money Flow Index (MFI)
Momentum
On Balance Volume (OBV)
Relative Strength Index (RSI)
Stochastic
Williams Percentage Range (W%R)
The divergences are colored with vivid lines and labels. Bullish divergences are distinguished with luminous blue lines, while bearish divergences are denoted by striking red lines. Upon detecting a divergence, the colored lines act as a visual indicator for traders, signaling an imminent possibility of a trend reversal. In response, traders can leverage this valuable insight to make informed decisions in their trading activities.
Choose Your Custom Divergence Indicator
Handpick your custom indicator, and the TRN Swing Suite will hunt for divergences on your preferred market and timeframe. Importantly, you must add the indicator to your chart. Afterwards, simply go to the “Divergence Detection” section in the TRN Swing Suite indicator settings and choose "External Indicator". If the custom indicator has one reference value, then choose this value in the “External Indicator (High)” field. If there are high and low values (e.g. candles), then you also must set the “External Indicator Low” field.
In the provided graphic, we've chosen the stochastic RSI as our example, and as you can see, the TRN Swing Suite instantly identifies and plots bullish and bearish divergences on your chart.
Smart Money Technique (SMT)/Divergence detecting in Relation to other Instruments
Smart Money Technique/Tool (SMT) means the divergence detection between two related instruments. The TRN Swing Suite finds divergence in relation to other instruments, e.g. NQ vs ES or BTCUSDT vs ETHUSDT. Just add another instrument to the chart. As representation style you can choose lines or candles/bars. Afterwards, simply go to the “Divergence Detection” section in the TRN Swing Suite indicator settings and choose "External Indicator". If the second instrument is represented as line, then choose this value in the “External Indicator (High)” field. If there are high and low values (e.g. candles/bars), then you also must set the “External Indicator Low” field.
The detection of SMTs can help traders to decide whether the trend continues, or a reversal is imminent. E.g. if the NQ makes a new higher high but the ES fails to do so and makes a new lower high, then the TRN Swing Suite shows a divergence. As a result, the probability is high that the trend will not continue, and the trader can make an informed decision about what to do next.
How to Set Parameters for Divergence Indicators
To begin, access the indicator settings and find the “Divergence Detection”. Look for the "Parameters" sections where you can fine-tune Parameters 1-3. The default settings are already optimized for the oscillators AO, RSI, CDV, W%R, MFI and Stochastic. For other divergence indicators, you might want to adjust the settings to your liking. The parameter order is the same as in the corresponding divergence indicator.
TRN Swing Suite Statistics
Unveil the untapped potential of advanced Swing Statistics! Gain invaluable insights into historical swings and turning points. Elevate your expertise by harnessing this treasure trove of data to supercharge signal reliability, while masterfully planning stop loss and take profit strategies with unrivaled accuracy. Within the TRN Swing Suite lie two powerful statistics, each offering distinct insights to empower your trading prowess.
Swing Statistic
The Swing Statistic comprises of two series, one for up swings (Up) and one for down swings (Down), with values given in points. The columns have the following meaning:
Up or down
# - total number of analyzed swings
Overall ∅ Length - average length of all swings in points
Overall ∅ Duration - average duration of swings in bars
∅ Length - average lengths for custom-defined swing counts
∅ Duration - average durations for custom-defined swing counts
The custom-defined swing count is used to determine the swing length/duration for the last x swings. Note, in the case of well-established assets like Microsoft or Nvidia, which have undergone one or more stock splits, the overall average in column three may deviate significantly from those in column five. That is why column 5 is useful.
Relation Statistic
The Relation Statistic highlights percentages representing the historical occurrence of specific high and low sequences. In the first column (in %), various types of highs and lows are listed as reference points.
For example, the first row corresponds to "HH followed by", where the second column (#) displays the total count of higher highs (HH) considered. The subsequent columns showcase the percentages of how often certain patterns follow the initial HH.
Fields marked in blue represent sequences that occurred in over 50% of cases. The darker the shade of blue in each field, the higher the percentage.
Use Swing Statistics to Validate Stop-Loss and Take-Profit Levels
No matter which signals you choose to trade, consulting Swing Statistics can significantly enhance the reliability of these signals.
For example, when looking for a long entry after a lower low (LL), you can examine the likelihood of a subsequent lower high (LH) or even a higher high (HH). Combining this valuable information with your predetermined Take Profit level allows you to better assess whether your target can be achieved successfully. Additionally, you can add the average up swing length to the lower low for an alternative Take Profit level. Similarly, you can verify the probability of the next low being a higher low (HL) or another lower low (LL) to determine the likelihood of your Stop Loss being triggered. Align the length of the last down swing with the average down swing length for an alternative Stop Loss.
Swing Support and Resistance Levels
Swing support and resistance levels are horizontal lines starting from a swing high or swing low and representing natural support and resistance levels. Price tends to respect this levels one way or another. In most cases, old swing highs and swing lows provide a lot of liquidity to the market. For example, for a swing high there are at least three different market players at work:
Traders put there stop loss above the swing high
Breakout traders go long above the swing high
Turtle soup (reverse) trader go short above the swing high
Swing Trend (Multiple Sizes)
The TRN Swing Suite can display either at the top or at the bottom the prevailing swing trends for the main trend seen in the chart and for two additional swing sizes. This is useful to see the swing trend for medium and bigger swings to get a clear picture of the market.
Getting an Edge with the TRN Swing Suite
The indicator clearly displays up trends, defined as a sequence of higher highs (HH) and higher lows (HL), with green labels and down trends, defined as a sequence of lower lows (LL) and lower highs (LH), with red labels. Equal highs/double tops (DT) and equal lows/ double bottoms (DB) are highlighted in gold.
In addition, the labels show a full stack of valuable information about the swings to maximize your accuracy.
Length
Length percentage in relation to the last swing length
Duration
Time
Volume
Cumulative Delta
In an uptrend the up swings should have higher volume und higher cumulative delta than the down swings. The duration and time for down swings in an uptrend should be shorter than for the up swings.
Use Cases for Swing Detection
Trend Identification
By connecting the swing highs and lows, traders can identify and analyze the prevailing trend in the market. An uptrend is characterized by higher swing highs and lows, while a downtrend is characterized by lower highs and lower lows. The indicator helps traders visually assess the strength and continuity of the trend.
Support And Resistance Levels
The swing highs and lows can act as support and resistance levels. Swing highs may act as resistance levels where selling pressure increases, while swing lows may act as support levels where buying pressure increases. Traders often pay attention to these levels as potential areas for trade entries, exits, or placing stop-loss orders.
Pattern Recognition
The swings identified by the indicator can help traders recognize chart patterns, such as equal high/lows, consolidations, wedges, triangles or more complex patterns like Gartley or Head and Shoulders. These patterns can provide insights into potential trend continuation or reversal.
Trade Entry and Exit
Traders may use TRN Swing to determine potential trade entry and exit points. For example, in an uptrend, traders may look for opportunities to enter long positions near swing lows or on pullbacks to support levels. Conversely, in a downtrend, traders may consider short positions near swing highs or on retracements to resistance levels.
Swing Styles
In addition to the standard swings, you have the flexibility to choose between various swing styles, including ticks, percent, or even the famous Gann swings.
Standard
Gann
Ticks
Percent
Conclusion
While signals from TRN Swings can be informative, it is important to recognize that their reliability may vary. Various external factors can impact market prices, and it is essential to consider your risk tolerance and investment goals when executing trades.
Risk Disclaimer
The content, tools, scripts, articles, and educational resources offered by TRN Trading are intended solely for informational and educational purposes. Remember, past performance does not ensure future outcomes.
RH_Previous Session CloseRaghee Horner Previous Session Close (PSC)
The RH_PSC is an automated Previous Session Close (PSC) indicator to show, at a glance, general market sentiment -- whether the market is generally bullish, bearish or neutral --for the current trading session.
The PSC plots the previous session close from the Daily candle, with a customizable table of data to show the previous price, whether or not the current price is above or below that previous close and the percentage move above or below.
It includes the ability to enable only the last session or to plot for all previous sessions continuously.
The data table is configurable for bearish, bullish or sideways coloring and can be moved to different locations to suite users preferences and charts. It can also be fully disabled.
Defaults are to show all previous sessions in a continuous plot and the data table is disabled.
What is “sentiment”?
Market sentiment reflects investors’ overall attitude toward a symbol, influenced by news, economic reports, and perceptions. It can be bullish, bearish, or neutral and significantly affects trading behavior and price movements. Bullish sentiment typically drives prices up, while bearish sentiment can cause them to fall. Understanding market sentiment is key for trend follow-through.
Why does it matter?
Effectively using sentiment allows for quicker, smarter trading decisions. As an active trader, understanding market sentiment is vital for follow-through. It shows real-time investor feelings, affecting price movements. Gauging sentiment helps you:
Anticipate Breakouts.
Time Entries and Exits.
Increase Probability of Continuation.
Jemmy Trade Whales Multiple Signal Options - Nine in One $$$This script is a combination of several indicators and trading strategies.
Let's break down each part:
1. MACD Indicator (My MACD Indicator – Nabil's Version): This calculates the Moving Average Convergence Divergence (MACD) using Heikin Ashi candles. It uses Exponential Moving Averages (EMA) to compute the fast and slow lengths and then calculates the MACD line, signal line, and histogram based on the difference between these EMAs.
2. Smoothed Moving Average (SMMA): This calculates a smoothed moving average using a user-defined length.
3. Least Squares Moving Average (LSMA): This calculates a least squares moving average using a user-defined length.
4. High Low SAR - Nabil's Version: This section calculates various levels based on SAR (Stop and Reverse) indicator. It also plots lines based on certain conditions and includes SAR lines with specific properties.
5. Volume-Weighted Hull Moving Average (VHMA) - Nabil's Version: This calculates a volume-weighted Hull moving average.
6. SAR (Stop and Reverse): This calculates the SAR indicator with user-defined parameters.
7. Mean Reversion Strategy: This part calculates upper and lower bands based on a multiplier of Standard Deviation from a mean. It also generates buy and sell signals based on crossing these bands.
8. SSL Hybrid - Nabil's Version: This calculates various indicators like SSL (Stochastic Scaled Levels), ATR (Average True Range) bands, and Keltner Channels. It also plots buy and sell signals based on certain conditions.
9. Buy Signal Options: This section defines several conditions for generating buy signals based on different combinations of indicators and plots corresponding buy signals.
Each section seems to be relatively independent and focused on calculating specific indicators or trading strategies. The script combines these components to provide a comprehensive trading setup with various buy signal options based on user preferences.
BUY SIGNALS EXPLAINATION:
1. MAIN - Price: This signal triggers when the current candle's close price crosses above the lookback average line (lookbackavg). It indicates a bullish momentum when the price moves above the average line.
2. MAIN - Price - SMMA - LSMA / Crossing: This signal combines multiple conditions:
• The current candle's close price crosses above the lookback average line.
• The smoothed moving average (SMMA) crosses above the lookback average line.
• The least squares moving average (LSMA) crosses above the lookback average line. This signal confirms a bullish trend when all three moving averages cross above the average line simultaneously.
3. MAIN - Price - (SMMA > LSMA) / No Crossing: This signal triggers when the following conditions are met:
• The current candle's close price crosses above the lookback average line.
• The SMMA is above the LSMA. This signal confirms a bullish trend when the SMMA remains consistently above the LSMA without crossing.
4. MAIN - Price - SMMA - LSMA - SAR - SSL / Crossing: This signal combines multiple conditions:
• The current candle's close price, SMMA, and LSMA cross above the lookback average line.
• The SAR (Stop and Reverse) indicator is above the SSL (Stochastic Scaled Levels). This signal indicates a strong bullish momentum when all conditions align.
5. MAIN - Price - (SMMA > LSMA) - SAR - SSL / No Crossing: This signal triggers when the following conditions are met:
• The current candle's close price crosses above the lookback average line.
• The SMMA is consistently above the LSMA.
• The SAR is above the SSL. This signal confirms a bullish trend without any crossing of moving averages.
6. MAIN - Price - SMMA - LSMA - SAR - SSL / Crossing - Coloring: Similar to signal 4, this signal additionally checks for specific colors of SAR and SSL lines to confirm a bullish momentum.
7. MAIN - Price - (SMMA > LSMA) - SAR - SSL / No Crossing - Coloring: Similar to signal 5, this signal also checks for specific colors of SAR and SSL lines to confirm a bullish trend without any crossing of moving averages.
8. MAIN Support line - 2 Candles: This signal triggers when the price pulls back from below the support line within the last two candles. It indicates a potential reversal from a support level.
9. MAIN Support line - lookBack Candles: This signal is similar to signal 8 but considers a specified lookback range for checking the pullback from below the support line.
These buy signals aim to identify various bullish scenarios based on combinations of price action, moving averages, SAR, and SSL indicators. Each signal offers different levels of confirmation for potential buying opportunities in the market.
USE IT WITH YOUR RISK MANAGEMENT STRATEGIES.
Future Updates "Coming Soon"
Targets - Under processing.
Stop loss - Under Processing.
Trailing - Under Processing.
Historical Data Table - Under processing.
Strength Table - Under Processing.
Whales Catcher - Under Processing.
Order Book Analyzer - Under Processing.
NABIL ELMAHDY $$
Danger Signals from The Trading MindwheelThe " Danger Signals " indicator, a collaborative creation from the minds at Amphibian Trading and MARA Wealth, serves as your vigilant lookout in the volatile world of stock trading. Drawing from the wisdom encapsulated in "The Trading Mindwheel" and the successful methodologies of legends like William O'Neil and Mark Minervini, this tool is engineered to safeguard your trading journey.
Core Features:
Real-Time Alerts: Identify critical danger signals as they emerge in the market. Whether it's a single day of heightened risk or a pattern forming, stay informed with specific danger signals and a tally of signals for comprehensive decision-making support. The indicator looks for over 30 different signals ranging from simple closing ranges to more complex signals like blow off action.
Tailored Insights with Portfolio Heat Integration: Pair with the "Portfolio Heat" indicator to customize danger signals based on your current positions, entry points, and stops. This personalized approach ensures that the insights are directly relevant to your trading strategy. Certain signals can have different meanings based on where your trade is at in its lifecycle. Blow off action at the beginning of a trend can be viewed as strength, while after an extended run could signal an opportunity to lock in profits.
Forward-Looking Analysis: Leverage the 'Potential Danger Signals' feature to assess future risks. Enter hypothetical price levels to understand potential market reactions before they unfold, enabling proactive trade management.
The indicator offers two different modes of 'Potential Danger Signals', Worst Case or Immediate. Worst Case allows the user to input any price and see what signals would fire based on price reaching that level, while the Immediate mode looks for potential Danger Signals that could happen on the next bar.
This is achieved by adding and subtracting the average daily range to the current bars close while also forecasting the next values of moving averages, vwaps, risk multiples and the relative strength line to see if a Danger Signal would trigger.
User Customization: Flexibility is at your fingertips with toggle options for each danger signal. Tailor the indicator to match your unique trading style and risk tolerance. No two traders are the same, that is why each signal is able to be turned on or off to match your trading personality.
Versatile Application: Ideal for growth stock traders, momentum swing traders, and adherents of the CANSLIM methodology. Whether you're a novice or a seasoned investor, this tool aligns with strategies influenced by trading giants.
Validation and Utility:
Inspired by the trade management principles of Michael Lamothe, the " Danger Signals " indicator is more than just a tool; it's a reflection of tested strategies that highlight the importance of risk management. Through rigorous validation, including the insights from "The Trading Mindwheel," this indicator helps traders navigate the complexities of the market with an informed, strategic approach.
Whether you're contemplating a new position or evaluating an existing one, the " Danger Signals " indicator is designed to provide the clarity needed to avoid potential pitfalls and capitalize on opportunities with confidence. Embrace a smarter way to trade, where awareness and preparation open the door to success.
Let's dive into each of the components of this indicator.
Volume: Volume refers to the number of shares or contracts traded in a security or an entire market during a given period. It is a measure of the total trading activity and liquidity, indicating the overall interest in a stock or market.
Price Action: the analysis of historical prices to inform trading decisions, without the use of technical indicators. It focuses on the movement of prices to identify patterns, trends, and potential reversal points in the market.
Relative Strength Line: The RS line is a popular tool used to compare the performance of a stock, typically calculated as the ratio of the stock's price to a benchmark index's price. It helps identify outperformers and underperformers relative to the market or a specific sector. The RS value is calculated by dividing the close price of the chosen stock by the close price of the comparative symbol (SPX by default).
Average True Range (ATR): ATR is a market volatility indicator used to show the average range prices swing over a specified period. It is calculated by taking the moving average of the true ranges of a stock for a specific period. The true range for a period is the greatest of the following three values:
The difference between the current high and the current low.
The absolute value of the current high minus the previous close.
The absolute value of the current low minus the previous close.
Average Daily Range (ADR): ADR is a measure used in trading to capture the average range between the high and low prices of an asset over a specified number of past trading days. Unlike the Average True Range (ATR), which accounts for gaps in the price from one day to the next, the Average Daily Range focuses solely on the trading range within each day and averages it out.
Anchored VWAP: AVWAP gives the average price of an asset, weighted by volume, starting from a specific anchor point. This provides traders with a dynamic average price considering both price and volume from a specific start point, offering insights into the market's direction and potential support or resistance levels.
Moving Averages: Moving Averages smooth out price data by creating a constantly updated average price over a specific period of time. It helps traders identify trends by flattening out the fluctuations in price data.
Stochastic: A stochastic oscillator is a momentum indicator used in technical analysis that compares a particular closing price of an asset to a range of its prices over a certain period of time. The theory behind the stochastic oscillator is that in a market trending upwards, prices will tend to close near their high, and in a market trending downwards, prices close near their low.
While each of these components offer unique insights into market behavior, providing sell signals under specific conditions, the power of combining these different signals lies in their ability to confirm each other's signals. This in turn reduces false positives and provides a more reliable basis for trading decisions
These signals can be recognized at any time, however the indicators power is in it's ability to take into account where a trade is in terms of your entry price and stop.
If a trade just started, it hasn’t earned much leeway. Kind of like a new employee that shows up late on the first day of work. It’s less forgivable than say the person who has been there for a while, has done well, is on time, and then one day comes in late.
Contextual Sensitivity:
For instance, a high volume sell-off coupled with a bearish price action pattern significantly strengthens the sell signal. When the price closes below an Anchored VWAP or a critical moving average in this context, it reaffirms the bearish sentiment, suggesting that the momentum is likely to continue downwards.
By considering the relative strength line (RS) alongside volume and price action, the indicator can differentiate between a normal retracement in a strong uptrend and a when a stock starts to become a laggard.
The integration of ATR and ADR provides a dynamic framework that adjusts to the market's volatility. A sudden increase in ATR or a character change detected through comparing short-term and long-term ADR can alert traders to emerging trends or reversals.
The "Danger Signals" indicator exemplifies the power of integrating diverse technical indicators to create a more sophisticated, responsive, and adaptable trading tool. This approach not only amplifies the individual strengths of each indicator but also mitigates their weaknesses.
Portfolio Heat Indicator can be found by clicking on the image below
Danger Signals Included
Price Closes Near Low - Daily Closing Range of 30% or Less
Price Closes Near Weekly Low - Weekly Closing Range of 30% or Less
Price Closes Near Daily Low on Heavy Volume - Daily Closing Range of 30% or Less on Heaviest Volume of the Last 5 Days
Price Closes Near Weekly Low on Heavy Volume - Weekly Closing Range of 30% or Less on Heaviest Volume of the Last 5 Weeks
Price Closes Below Moving Average - Price Closes Below One of 5 Selected Moving Averages
Price Closes Below Swing Low - Price Closes Below Most Recent Swing Low
Price Closes Below 1.5 ATR - Price Closes Below Trailing ATR Stop Based on Highest High of Last 10 Days
Price Closes Below AVWAP - Price Closes Below Selected Anchored VWAP (Anchors include: High of base, Low of base, Highest volume of base, Custom date)
Price Shows Aggressive Selling - Current Bars High is Greater Than Previous Day's High and Closes Near the Lows on Heaviest Volume of the Last 5 Days
Outside Reversal Bar - Price Makes a New High and Closes Near the Lows, Lower Than the Previous Bar's Low
Price Shows Signs of Stalling - Heavy Volume with a Close of Less than 1%
3 Consecutive Days of Lower Lows - 3 Days of Lower Lows
Close Lower than 3 Previous Lows - Close is Less than 3 Previous Lows
Character Change - ADR of Last Shorter Length is Larger than ADR of Longer Length
Fast Stochastic Crosses Below Slow Stochastic - Fast Stochastic Crosses Below Slow Stochastic
Fast & Slow Stochastic Curved Down - Both Stochastic Lines Close Lower than Previous Day for 2 Consecutive Days
Lower Lows & Lower Highs Intraday - Lower High and Lower Low on 30 Minute Timeframe
Moving Average Crossunder - Selected MA Crosses Below Other Selected MA
RS Starts Curving Down - Relative Strength Line Closes Lower than Previous Day for 2 Consecutive Days
RS Turns Negative Short Term - RS Closes Below RS of 7 Days Ago
RS Underperforms Price - Relative Strength Line Not at Highs, While Price Is
Moving Average Begins to Flatten Out - First Day MA Doesn't Close Higher
Price Moves Higher on Lighter Volume - Price Makes a New High on Light Volume and 15 Day Average Volume is Less than 50 Day Average
Price Hits % Target - Price Moves Set % Higher from Entry Price
Price Hits R Multiple - Price hits (Entry - Stop Multiplied by Setting) and Added to Entry
Price Hits Overhead Resistance - Price Crosses a Swing High from a Monthly Timeframe Chart from at Least 1 Year Ago
Price Hits Fib Level - Price Crosses a Fib Extension Drawn From Base High to Low
Price Hits a Psychological Level - Price Crosses a Multiple of 0 or 5
Heavy Volume After Significant Move - Above Average and Heaviest Volume of the Last 5 Days 35 Bars or More from Breakout
Moving Averages Begin to Slope Downward - Moving Averages Fall for 2 Consecutive Days
Blow Off Action - Highest Volume, Largest Spread, Multiple Gaps in a Row 35 Bars or More Post Breakout
Late Buying Frenzy - ANTS 35 Bars or More Post Breakout
Exhaustion Gap - Gap Up 5% or Higher with Price 125% or More Above 200sma
Forex lot size calculation🔶What it is ?
Forex lot size calculation is an indicator to help traders to manage trading account better and avoid emotion when you're changing account from small to bigger capital.
This indicator calculates lot size to entry by calculation risk in percent that you're planing for a position and your account balance also.
Our purpose is, keep your mind always "Empty" during trading even you're managing 100k$, 200k$ and more, espeically when you're changing from small account to bigger account.
The diffirence here is only Lot size you will input, we don't need to focus on how many money in dollors will we lost after a position. Each position, that's 1%, 2% balance , just like that. From that point, we can control emotion better and trade more effectively.
🔶 Who can use it ?
1. All traders who are using NCI, ICT , MACD system and other systems...
2. All traders who are trading on any timeframe
3. All traders who are trading on Forex market
4. All traders who are new or experienced traders
5. All traders who are swing or scalping traders
🔶 The purpose of indicator
1. Calculate lot size for all forex pairs exactly to trade on other platform like MT4/5, Ctrader and even Tradingview.
2. Exchange from risk by percent of account to lot size
3. Helping you to manage trading accounts easier
4. Always "Empty your mind" during Trading
🔶 How will indicator appear on chart
After you added it on chart, indicator will appear as table at your bottom right of chart. You can change it to Top-center as above chart by setting that I will guide you right on below.
In general, you can see three data :
1. Acc size $: That's your account balance you already input
2. %Risk : Here is risk by percent that you're planing to trade
3. LOT SIZE : Here is value after calcuation to help you can know how many lot size to entry.
Indicator will show you as three colors also :
GREEN : You're taking risk at a safe level that's less than 1%your account. You normally can trade better and manage trade easier with risk like that.
WHITE : You're taking risk at a normal level that's from 1 - 2% your account. You should becareful during taking this risk because it is only for experience traders.
RED : You're taking risk at a dangerous level that's greater than 2% your account.
This type of risk is only for top trader who can earn profit from mange consistency for a long time. Plus, with this type of risk, you will be rejected by prop firm companies easier because of gambling rules.
🔶 INPUT value
There're 2 groups for trader to input and use this indicator :
1. Trading input :
You need to input data to calcuate lot size here
- Your account balance : here is your initial account balance that you deposit
- Acc risk % : Here is risk by percent you're planing for each position.
- Stop loss by pips : Here is stop loss by pips for your position.
Explanation about stoploss by pips in Forex
Please help to refer to my chart above, that's a buying position in Tradingview. Tradingview measured all needed data in pips for you.
For example : My buying position on have chart having stop loss value is 15.3 pips.
I just need to input stoploss here as 15.3.
2. Display setting
Here is the place we will set the text size and location of table.
- Font size : The size of texts in this indicator. You can choose from tiny to Huge size
- Location : The position of indicator on chart. You can put it from bottom to top and left to right as your favorite
🔶 How to use indicator
After setting indicator, you need to input all data to Trading input group :
1. Your account balance
2. Acc risk %
3. Stop loss by pips
And then click to OK.
Indicator will calculate and give out LOT SIZE for you to entry.
It will remember your account balance and risk %, so you just need to input stop loss for your diffirence trades.
As chart above, I input my initial account as 200k$ and I normally take 1% risk for each position.
I want to buy at green box on chart above with SL is around 15.3 pips on AUDUSD.
Indicator helped to calculate lot size as 13.07 lot to trade.
I hope this indicator help you to trade and manage account better.
Mental Health Monitoring🔶What it is ?
NCI_Mental Health is a reminder to help traders to manage psychology during analyzation.
This indicator calculates and displays your analyzation time and give you alert about your current mental status to continue analyzing or close chart to avoid being manipulated my market.
Our purpose is, keep your mind always "Empty" during analyzation. Counting opening chart will help you to control analyzation time and empty your mind better.
🔶 Who can use it ?
1. All traders who are using NCI, ICT , MACD system and other systems...
2. All traders who are trading on any timeframe
3. All traders who are trading on any market like stock, crypto, forex, gold, indices...
4. All traders who are new or experienced traders
5. All traders who are swing or scalping traders
🔶 The purpose of indicator
This indicator will give you alert and information about your mental health to know :
1. When you need to stop analyzation
2. When you can continue analyzing chart without any worries
3. Choosing your best emotion period to analyze to give out the best decision
4. Always "Empty your mind" during analyzation
🔶 How will indicator appear on chart
After you added it on chart, indicator will appear at your top right corner of chart. You can change it to Top-center as above chart by setting that I will guide you right on below.
In general, you can see two data :
1. Analyzation time : That's period that you used to analyze now by seconds and minutes
2. Metal status : Your mental status during analyzation
We will have 3 status as :
Good- You're on a very good status to start analyzing. This infomation will be shown as green color. We can remember color better than words so I added more color.
Normal - Your brain are on a normal status that you still continue analyzing.
This infomation will be shown as white color.
MANIPULATED - Your brain is very TIRED and you must close chart to take a rest.
This infomation will be shown as red color.
🔶 How to use indicator
You should focus on Metal status mostly with below guidance :
1. Good: You're on a nice status to give out the best decision. Normally, you should analyze a chart less than 3 minutes as default to always stay on the best status during analyzation.
2. Normal : It is better to prepare to take a rest. You can continue analyzing without any worries.
3. MANIPULATED : You will be manipulated by market easily to give out the wrong decisions.
You need to close chart now.
🔶 INPUT value
1. Minute : Analyzation time as minute value
2. Second : Analyzation time as second value
3. Your Alert message: A message to remind yourself if analyzation time is ended.
4. Font size : The size of texts in this indicator. You can choose from tiny to Huge size
5. Location : The position of indicator on chart. You can put it from bottom to top and left to right as your favorite.
🔶 Setting ALERT
If you prefer to receive a remind from Indicator than checking Mental status on indicator table
You can set alert by Tradingview with below steps :
1. Click to Alert on top middle of chart (tool bar)
2. At Condition, choose NCI mental health
3. Click to Create
Indicator will send you alert if your analyzation time now is over your Input value.
You should close chart and stop analyzation to avoid giving wrongly decision.
Warm regards,
Jayce
Market Structure (Range) & Internal Liquidity
This indicator will simplify the price-action reading of any trader/investor by decluttering his/her charts from un-important & confusing candles to highlight the true momentum candles which are usually formed by institutional buying/selling .
The indicator will be a good tool in the arsenal of the following styles of Trading/Investing
Smart Money / Liquidity Concepts
Price Action Concepts
Demand & Supply Concepts
Support & Resistance Concepts
UNIQUE FEATURES:
1. Market Structure - Range & Internal Liquidity:
Unlike other liquidity indicators, this indicator only highlights liquidity levels of significant importance. Not every intermediate high & low in a chart are worthy of noticing, hence by enabling the 'Swings' & 'Range (BoS)' feature in the indicator settings, the structure highs and lows (external liquidity) in a chart can be identified.
Any other liquidity levels within a market range (Range between structural High & Low) is known as internal liquidity which price targets to collect enough orders before heading towards the external liquidity levels.
2. Gaps (Fair Value Gaps / Imbalance):
Not every imbalance / gap between candles are important & trade-worthy. This feature of the indicator is different from the other widely available imbalance indicators & only highlights gaps formed by true momentum candles. Gaps between unimportant inside bars are not highlighted, as these bars occur in the absence of momentum.
3. True Price Action:
Looking at the two charts below, we can clearly observe the difference between price action of a confusing normal chart & the simplified price action highlighted by the indicator. This feature declutters the charts by only highlighting the candles a trader / investor should notice in a chart.
This feature when used in confluence with the liquidity levels feature & gap feature of the indicator, helps identify the true demand & supply zones (order blocks) in a chart.
Before
After
4. Zig Zag Lines:
This unique feature which is useful to Identify & Backtest different entry types taught by Smart Money Traders . This feature helps the trader understand the True Fractal Nature of price. This can also be seen as an alternate to the default line chart feature.
Examples of Entry Types taken by Smart Money Traders
ADDITIONAL FEATURES:
(These features are essential addons to trade liquidity. However, these are derived from publicly available indicators from the Tradingview library, but with a different interpretation for a better visualization of charts & or to time better trade entries without cluttering the charts)
a. Inside Bar & Outside Bars:
Identify not just a single Inside Bar as highlighted by other indicators, but to highlight a series of candles which are within a master candle range and are exhibiting unimportant sideways price action.
Outside Bars only relevant to momentum candles are highlighted, ignoring candles that occur within a master candle range. Highs & Lows of such Outside Bars are used by aggressive traders to identify liquidity levels in the charts.
b. Highs & Lows of previous Monthly / Weekly / Daily & Hourly Candles:
This feature draws Highs & Lows of previous Monthly / Weekly / Daily & Hourly Candles on the extreme right hand side of the chart to keep the charts clean.
Additionally for Hourly time frame, the indicator includes a setting to select the hourly candle time frame (60 min / 75 min / 240 min), which are personal and different for each trader.
UNDERLYING CONCEPT:
In the image below we see how a large majority of Traders / Investors incorrectly mark Structure markings, mistaking a raid of internal liquidity as a Break of Structure, thereby taking trades opposite to the broader trend of the markets
However, this indicator has a higher accuracy of identifying the correct price structure by only marking a structure high or low, when a subsequently opposite side liquidity is taken/raided. Further the broader trend of the markets can be easily identified by looking as to which side the Break of Structure has happened. (This is visible in the indicator in the form of 'Range' feature, so if a Range High is broken then it is understood to be in an uptrend & vice versa)
The underlying core functionality of the indicator is best displayed by the image below
USECASE OF THE INDICATOR:
Before taking any Buying/Selling position in the markets, a Trader / Investor must analyze the price action on the following parameters
HTF & LTF Trend Identification (To judge if trade is Pro-Trend or Counter-Trend)
Is Price at a High Probability Area of Interest?
Is Price satisfying the trade entry conditions?
Let us see how this indicator can be used as a complete trading system in itself and addresses each of the above parameters
Disclaimer: Illustrations shown below are just for understanding the features of the indicator & does not guarantee profitability. Every trader must back test their setups to arrive at a setup with an edge (positive expectancy) before they start actively trading the setup.
1. HTF & LTF Trend Identification (Pro-Trend / Counter-Trend) using 'Range (BoS)' feature of the indicator
Let's assume a Day Trader, uses hourly chart (75 min) to frame his Higher Time Frame (HTF) ideas & 15min charts (LTF) for trade entries
Looking at the chart below the Trader concludes that the HTF has most recently broken the structure to the downside and is considered Bearish till price action is below the range high of 48600 levels. It can also be concluded that the price is currently in a Bullish retracement.
The Trader can choose to take both Pro-Trend or Counter-Trend Trades, timing the trade entries using the LTF charts.
Looking at the LTF chart below, it is evident that price on LTF has also broken structure to the downside and is now aligned with the HTF Bearish Trend. The Trader will now look to get into short trades, to take trades both in line with HTF & LTF trend.
2. Let's identify if Price is at a High Probability Area of Interest, using either single or combination of the 'Swings' / 'Gaps' / 'Outside Bars' / 'HL of previous M,W,D, H candles' features of the indicator
Definition of High Probability Level / Area differs from each Traders perspective depending upon which of the Trading Styles (mentioned in the beginning) does one use.
Smart Money Traders
SMC Traders are known to get into trades early and their high R:R trades are taken mostly at a High Probability Area of Interest which are identified by them on HTF, by looking for candles with imbalance (gaps) & or candles which have taken out a previous liquidity and then having creating imbalance (gaps).
Also Turtle Soups is one of the favorite setups for SMC traders, where a trader enters a trade on LTF (typically 1 min/3min & 5min) after grabbing HTF liquidity lying at H/L of outside bar / previous monthly, weekly, daily or hourly candles.
Demand & Supply Traders
Some of the Best Demand & Supply Traders have the patience to wait for trades and take trades at the extreme Demand & Supply Zones within a market Range.
As illustrated below, the extreme hourly supply zone just below the structure high, which has the confluence of imbalance and Bearish HTF confirmation resulted in a good R:R trade.
Price Action Traders & Support & Resistance Traders
From the illustration below we can see how the 15 min Range breakdown confirms the breakdown of the Inverted Cup Pattern for Price Action Traders & Support & Resistance Traders using the same area of breakdown as the new Resistance to enter Short trades
3. Let's identify if Price is satisfying the Trade Entry Conditions using the 'Zig-Zag Lines' feature
Statistics say that majority (> 80%) of Traders blow up their accounts multiple times or completely give up and never achieve profitability.
One of the primary reasons for this is Traders punching trades randomly and without having proper Setup or rules for entering Trades.
Also in order to arrive at rules or execute the different entry models (couple of examples highlighted earlier) taught by different Trainers, a Trader needs to learn to visualize charts in a similar format to what the trainers are teaching.
The Zig-Zag lines feature is a form of line chart that joins the swing high points to the swing low points on the chart to represent the True Price action & a proper fractal nature of the markets, unlike the line chart which is formed by only by joining the closing value of each candle.
From the image below we can see that the Zig-Zag lines feature eliminates the randomness visible in the line chart and is a more smoother chart. Using this feature one can back test the various entry models widely available on the internet or arrive at a user specific model which he/she is comfortable with.
CONCLUSION:
Trading with a deeper understanding of Price Action allows a Trader/Investor to enter or exit trades with ease. Price Action trading allows individuals to keep their charts clean and stay away from the other lagging technical indicators and enter trades much earlier than other technical indicators.
This indicator attempts in simplifying the understanding of price action for every one and identify potential high probability areas / levels where one should enter / exit trades.
This indicator will be an important tool in the arsenal of any Trader / Investor to take better informed trades, however it does not guarantee profitability of a Trader, due to the randomness of the markets & external factors that influence each trader.
GET ACCESS:
Refer Author's instructions below to get access to the indicator
Anchored Square of 9 by AlgoCadosThe 'Anchored Square of 9 by AlgoCados' pine script indicator, leverages the non-discretionary, mathematical principles of W.D. Gann's Square of 9 for predicting vital support and resistance levels across all financial assets. Its mathematical precision and versatility make it a universally applicable tool, suitable for analysis of any financial asset without bias. Characterized by its adaptability to both high and low time frame analyses (HTF and LTF), this sophisticated indicator provides a structured, reliable method for market analysis, making it an essential asset for traders looking to apply a consistent and comprehensive approach across various market conditions and asset classes.
CME_MINI:NQH2024
Core Functionality
Anchored Price Point: The script allows users to define an anchor time and anchor point type (High, Low, Open, Close), serving as the basis for subsequent calculations. This flexibility enables precise adaptation to varying market conditions and analysis needs.
Angular Shifts and Projection: The indicator implements a range of angular shifts for LTF and HTF analyses, allowing for detailed and customizable projection of support and resistance levels. Angular shifts can range from 11.25° for finer intraday nuances up to 7200° for broader, long-term trend insights.
Mathematical Implementation
Anchor Point Selection: The script selects an anchor point based on user inputs for the anchor type and anchor time. This point serves as the basis for calculating deviations.
Angular Shift Calculation: The indicator calculates deviations by applying angular shifts to the square root of the anchor price. These deviations are used to project potential support and resistance levels.
Projection Lines and Labels: For each angular shift, the script generates projection lines and labels, which are dynamically adjusted as new data becomes available. This visual representation aids in identifying significant price levels.
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Key Features and Customization Options
Customizable Angular Shifts: Traders can enable or disable specific angular shifts to tailor the analysis to their trading strategy.
Projection Styles and Labels: Offers various styles (Solid, Dotted, Dashed) for equilibrium, upper shifts, and lower shifts lines, along with customizable label options (Levels, Prices, Levels + Prices) for enhanced clarity and information density.
Dynamic Labeling: Utilizes dynamic labeling for each projection line, indicating the angular degree and price level, facilitating a comprehensive understanding of potential market movements.
User-Friendly Inputs: Features user-defined inputs for anchor time and type, angular shifts, line styles, and labeling options, making the tool highly adaptable and intuitive.
Pine Script Technical Insight
Input Handling: The script incorporates a series of input controls to allow users to specify the anchor time, anchor type, and which angular shifts to display.
Line and Label Generation: Utilizes Pine Script's capabilities to dynamically generate and adjust projection lines and labels based on the calculated support and resistance levels.
Efficiency and Adaptability: Efficiently loops through a predefined set of angles, applying them to the anchored price point to calculate and project support and resistance levels, demonstrating the script's adaptability to both intraday and longer-term analysis.
Mathematical Formulation and Indicator Logic
Initial Setup and Inputs
The indicator starts by capturing user inputs for the anchor point—this can be a High, Low, Open, or Close price at a specified anchor time. These inputs determine the base price (P-base) from which all calculations are derived.
High if Anchor Type = "High"
Low if Anchor Type = "Low"
Open if Anchor Type = "Open"
Close if Anchor Type = "Close"
Angular Shifts and Projection Basis
The core of the "Anchored Square of 9" methodology involves calculating support and resistance levels through angular shifts applied to the Price-base (P-base).
The indicator enables a series of angular shifts, specified by the user, to project these levels dynamically.
Angular shifts are interpreted through the lens of Gann's theory, with each degree corresponding to a potential market turn or equilibrium point.
The script translates these angles into actionable projections using the square root of the anchor price, then applies the angular coefficients to find deviation points.
Angular Coefficients and Pi
In the context of the "Anchored Square of 9" indicator, angular shifts are crucial for projecting potential support and resistance levels. These shifts are quantified by angular coefficients derived from geometric principles, specifically leveraging the relationship between angles in degrees and their radian counterparts using π (Pi). Here's how angular coefficients are integrated:
Pi Reference for Angular Shifts: Given that 360° equates to 2π radians, angular coefficients (θ) for the indicator are calculated by translating degrees into a radian measure and then applying this measure to modify the square root of the base price (P-base).
Example of Angular Coefficients Shift:
A 180° shift corresponds to π radians. In the indicator's formula, this would translate to an angular coefficient of 1, since 180° = π in terms of π. Thus, applying this angular shift involves adding or subtracting 1 from the square root of P-base and then squaring the result to project a new price level.
Similarly, a 90° shift, equating to π/2, would have an angular coefficient equivalent to 0.5, reflecting its proportion of the circle (or square, in the context of Gann's geometry).
Implementation in Calculation of Deviations
Incorporating π into the formula for calculating deviations enriches the indicator's mathematical foundation, providing a direct link to geometric principles:
For each selected angular shift (θ), the script calculates positive and negative deviations from the square root of the anchor price. These deviations represent potential support and resistance levels.
P± = round (( sqrt root (P-base) ± θ)²)
Where:
P ± represents the calculated price levels for support (-) and resistance levels (+);
θ is the angular coefficient derived from the user-selected angular shifts;
sqrt root (P-base) is the square root of the base price;
round (⋅) ensures that the calculated levels are adjusted to the nearest tick size, maintaining relevance to actual trading scenarios.
Dynamic Projections and Visualization
The script generates lines and labels for these calculated levels, dynamically extending them as new market data becomes available. This feature ensures that traders have the most current and relevant information for decision-making.
For visualization:
Equilibrium Lines: Drawn at P-base to indicate the anchor or equilibrium point.
Support and Resistance Lines: Drawn at P- and P+, respectively, showing potential levels of market reaction
CME_MINI:NQH2024
Labeling and Style Customization
The indicator provides extensive customization for the appearance of projection lines and labels. Traders can select the line style, color, and text information (levels, prices, or both) to be displayed, tailoring the visual output to their preferences and trading strategy.
Implementation Details
This detailed approach to calculating support and resistance levels showcases the indicator's adherence to Gann's principles while leveraging modern computational methods to enhance trading analysis. By translating angular shifts into quantifiable projections, the "AlgoCados x Anchored Square of 9" indicator offers a powerful tool for identifying potential market movements with high precision.
The Pine Script implementation encapsulates this complex logic within a user-friendly interface, allowing traders to harness advanced analytical techniques within the TradingView platform. Through dynamic calculation and visualization, the indicator equips users with a deep understanding of market structures, enabling informed trading decisions based on mathematical projections.
Conclusion
The 'Anchored Square of 9 by AlgoCados' indicator merges mathematical precision with trading intuition, offering an advanced tool for traders seeking to leverage the time-tested principles of W.D. Gann's Square of 9. With its comprehensive set of features and customization options, it stands as a powerful addition to the TradingView platform, designed to enhance market analysis and decision-making for traders at all levels.
Embrace the essence of smarter trading where every insight is "Healthy For Your Trading."
ICT Weekly Profile Templates Dashboard by AlgoCadosThe ICT Weekly Profile Templates Dashboard is a tool meticulously crafted to integrate ICT Weekly Profiles and enrich your trading approach with profound insights. It provides a real-time analysis of market sessions, Daily Session Opens openings, and potential Points of Interest (POI) within the week, It outlines 12 profiles, serving as a roadmap with enhanced precision. By breaking down the trading week into specific profiles, it provides a clear framework to navigate market fluctuations.
# Key Features
Weekly Templates Dashboard : An advanced feature supported by an easy-to-understand table that lists all 12 profiles, simplifying the process of identifying current market scenarios and potential future movements.
Intraweek POI : Identifies key intraweek levels of interest (Daily Highs / Daily Lows) with configurable visual styles. Distinguish between buyside and sellside POIs with solid, dotted, or dashed lines in colors that stand out or blend in, according to your preference.
POI Raids Insights : Automatically updates the lines and label of a key level once it gets broken, highlighting the time when the high or low was taken out,.to provide a comprehensive overview of weekly market dynamics.
Customization at its Core : With inputs for line styles, colors, and even font specifications for text and labels, the dashboard is fully customizable to fit your charting needs. Whether you prefer solid lines for emphasis or dotted lines for a more subdued look, the choice is yours.
Utility and Style : The script doesn't just offer functional benefits; it also considers aesthetics. Choose from Monospace or Sans Serif fonts and adjust the size to ensure that your dashboard is not only informative but also visually pleasing.
# ICT Weekly Pattern
"xOTW" serves as placeholder for "LOTW" (Low of the Week) and "HOTW" (High of the Week). This visual shorthand allows traders to quickly interpret market conditions, with a combination of "xOTW" alongside directional arrows "↗" (Bullish) and "↘" (Bearish).
Bullish Patterns Analyzed
Mon LOTW: Monday Low Of The Week / Classic Buy Week;
Tue LOTW: Tuesday Low Of The Week / Classic Buy Week;
Wed LOTW: Wednesday Low of the Week;
MWK R: Consolidation Midweek Rally;
Thu LOTW: Thursday Low Of The Week / Consolidation Thursday Reversal (Bullish);
Fri S&D: Seek and Destroy Bullish Friday;
Bearish Patterns Analyzed
Mon HOTW: Monday High Of The Week / Classic Sell Week;
Tue HOTW: Tuesday High Of The Week / Classic Sell Week;
Wed HOTW: Wednesday High of the Week;
MWK D: Consolidation Midweek Decline;
Thu HOTW: Thursday High Of The Week / Consolidation Thursday Reversal (Bearish);
Fri S&D: Seek and Destroy Bearish Friday;
# Inputs
Offset: Adjusts the offset for the daily open marker, allowing users to shift the position of the session start visual cue on the chart.
Show Historic Data: Toggles the display of historical session data, enabling traders to either keep a continuous record of sessions throughout the chart or reset data at the start of each new week.
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Show Session Start: Activates vertical dividers at the start of each trading session, providing a clear demarcation of session boundaries.
Show Session Open: Displays the opening price for each session, offering immediate visual cues to the session's starting strength or weakness.
Extend Session Open: Extends the session's opening price line to the current bar, giving a persistent reference point throughout the trading session.
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Intraweek POI Styles and Colors
Start Line Style: Customizes the style of session start lines with options for solid, dotted, or dashed appearances.
Start Line Color: Chooses the color for session start lines, enhancing chart readability.
Daily Open Style and Color: Sets the style and color for the daily open lines, distinguishing them from other chart elements.
Buyside Line Style and Color: Adjusts the visualization of potential buyside areas of interest with customizable line styles and colors.
Sellside Line Style and Color: Configures the display for potential sellside points of interest, allowing for distinct visual differentiation.
Utils for Aesthetics and Clarity
Font Family and Size: Selects the font family and size for text elements within the indicator, ensuring clarity and consistency with your chart's aesthetic.
Text and Background Colors: Defines the color for text and background elements, facilitating a harmonious integration with the chart's overall color scheme.
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Embrace the essence of smarter trading where every insight is "Healthy For Your Trading."
It's All MidsIt's All Mids extends mid-lines of a candle forward until the price revisits (covers) the midpoint. A higher timeframe can be used for the mid candles than the chart (but not the reverse). There is no data to support this is a meaningful concept.
While this script is intended to be functional, correct and useful it is important that you understand that not only is this the first script I've written but also that "I am an idiot."(tm) Using a stranger's indicator is questionable, but using a self-proclaimed idiot's indicator to trade real money is unquestionably stupid. Don't be like me. Be smart. You are responsible for what you do with this script. The source is unlocked, so feel free to copy and modify it.
Terms:
- A "mid" is the (high+low)/2 price of a previous candle that has not been auctioned since the candle close. All candles will initially have a mid unless they close on exactly their midpoint.
- A "covered" mid is a mid for which the midpoint has been auctioned since the candle closed. There is an option to display a number of these so that when a mid is hit the line doesn't just disappear from the chart and you forget what you were doing.
- A "low priority" mid is the mid of a candle which was auctioned in the previous candle(s) (chart's timeframe, not the mid's timeframe)-- chopchopchop. I have no data to show that this matters, or really, that anything matters at all.
My use: I chart a 60m mid on ES on a 5 or 15 minute chart. I am lying. I use it for something else but if I tell you that then I give away my incredible alpha that has made me so rich I can spend my time crying in corner about all the money I've lost.
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.
[Options Strategies] Selling Covered Calls and Puts (TSO) This trading indicator assists with traditional covered options trading strategies like Covered Calls, Covered Puts, and Cash Secured Puts. It also offers advanced features for trading options intelligently by utilizing options specific levels, such as BE (Break Even) and Strike (all visually shown on chart) in combination with S&R (Support and Resistance), Trend Lines, and other technical analysis tools such as MA (Moving Averages) and ATR Average True Range, all integrated within the indicator.
* Covered options approach over trading shares or options separately offers distinct advantages:
- Reduced Risk and Flexibility : Covered options strategy provides a more conservative approach by combining stock ownership with options trading. It reduces risk exposure compared to buying options outright or trading shares alone. Additionally, it offers flexibility in various market conditions.
- Profitability in Sideways Markets: Covered options allow for profitability in scenarios where the stock price is either moving optimally or remaining sideways. In contrast, just holding stocks might not yield significant gains in a sideways market, and buying options can result in losses due to time decay.
- Protection Against Price Movements: In covered options, if the stock price goes against the trade, the loss is mitigated by the premium received from selling the options. This provides a level of protection compared to other trading strategies where losses can accumulate more rapidly.
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Strategies / Visual Examples:
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Up to 3 Symbols can be monitored at the same time with alerts for each Symbol and a Stats Table. To see Symbol's visuals (Date Range, Strike, BE, etc.) - the chart has to be loaded with that Symbol. Here is an example of trading multiple stocks at same layout on different charts trading AAPL, BAC and TSLA.
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An example of a Smart Covered Calls trading SPY.
STRATEGY EXPLANATION:
* Trade Open Trigger (Bullish/Sideway)
>>> S&R (Support and Resistance) or Trend Line broken, bounced off or simply near (if price is near/slightly crossing S&R/Trend Line > a bounce often takes place)
>>> Confirmation by additional TA (Technical Analysis) tools.
>>> EXAMPLE: Broken Resistance combined with a Trend Line up-bounce, confirmed by bullish 200EMA.
* TP (Take-Profit)
>>> Contracts Expire at Expiration date: Premium received for selling contracts kept.
>>> Assignment: Premium received for selling contracts kept + stock assigned/sold at a higher price than it was purchased.
* BE/SL (Break Even Stop-Loss) |
>>> BE/SL hit: stock sold at a slight loss with options contracts bought out (BTC - Buy to Close) at a lower price than initially sold (since price went down and these are calls), so technically the loss is reduced by the partial Premium still kept from initially sold contracts at trade open.
>>> Increasing the BE/SL distance: for wider BE/SL > Bid Price needs to be increased:
- Set longer Expiration date.
- Set closer Strike price.
NOTE: With longer Expiration date and closer Strike, chances of assignment increase as well. It's best to find an optimal level, where BE/SL is behind a Support/Resistance level and/or an established trend line and/or Large Length Moving Average, yet not extremely far away.
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An example of a Smart Covered Puts trading SPY.
STRATEGY EXPLANATION:
* Trade Open Trigger (Bearish/Sideway)
>>> S&R (Support and Resistance) or Trend Line broken, bounced off or simply near (if price is near/slightly crossing S&R/Trend Line > a bounce often takes place)
>>> Confirmation by additional TA (Technical Analysis) tools.
>>> EXAMPLE: Broken Resistance combined with a Trend Line down-bounce, confirmed by bearish 200EMA.
* TP (Take-Profit)
>>> Contracts Expire at Expiration date: Premium received for selling contracts kept.
>>> Assignment: Premium received for selling contracts kept + stock assigned/bought-to-cover at a lower price than it was shorted.
* BE/SL (Break Even Stop-Loss) |
>>> BE/SL hit: stock bought-to-cover at a slight loss with options contracts bought out (BTC - Buy to Close) at a lower price than initially sold (since price went up and these are puts), so technically the loss is reduced by the partial Premium still kept from initially sold contracts at trade open.
>>> Increasing the BE/SL distance: for wider BE/SL > Bid Price needs to be increased:
- Set longer Expiration date.
- Set closer Strike price.
NOTE: With longer Expiration date and closer Strike, chances of assignment increase as well. It's best to find an optimal level, where BE/SL is behind a Support/Resistance level and/or an established trend line and/or Large Length Moving Average, yet not extremely far away.
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An example of a Smart Secured Cash Puts trading SPY.
STRATEGY EXPLANATION:
* Trade Open Trigger (Bullish/Sideway)
>>> Bullish steady trend.
>>> Confirmation by additional TA (Technical Analysis) tools.
>>> EXAMPLE: Slowly rising price action above 200EMA.
* TP (Take-Profit)
>>> Early BTC: BTC (Buy to Close) before Expiration date if options premium/contract price already reduced by at least 50-90% (the reduced price is the profit, if premium lost 90% - only 10% will need to be paid to buy options out to close the trade) and if the stock price is nearing Resistance, Trend Line or big length moving average (like 200EMA) as a bounce may happen or even a potential reverse of the trend. If there is no trend reversal or a small correction bounce occurs, with further trend continuation > another Cash Secured Puts trade can be opened with new Expiration date and Strike.
>>> Contracts Expire at Expiration date: Premium received for selling contracts kept, considering the Strike was never hit.
>>> Assignment with stock closing below Strike and above/near BE (Break Even): Premium received for selling contracts kept. NOTE: It is best to get rid of the stock ASAP to then open a new Cash Secured Puts trade with lower Strike and a new Expiration date.
* BE/SL (Break Even Stop-Loss) |
>>> BE/SL hit: contracts bought out (BTC - Buy to Close) at a higher price than initially sold (since price went down and these are puts), the amount/difference in current contract price is the loss (as premium received + contract price increase is the total cost, which will have to be paid to buy the countracts out).
>>> Increasing the BE/SL distance: for wider BE/SL > Bid Price needs to be increased:
- Set longer Expiration date.
- Set closer Strike price.
NOTE: With longer Expiration date and closer Strike, chances of assignment increase as well. It's best to find an optimal level, where BE/SL is behind a Support/Resistance level and/or an established trend line and/or Large Length Moving Average, yet not extremely far away.
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An example of Options Wheel strategy trading TQQQ. See how Strike and BE (Break Even) hits are displayed every time they occur.
STRATEGY EXPLANATION:
* Trade Open Trigger (Bullish/Sideway)
>>> Options Wheel strategy combines Cash Secured Puts with Covered Calls, so a steady bullish trend is preferred with lower volatility.
>>> It's best to start with Cash Secured Puts until assignment hits (stocks purchased), then switch to Covered Calls until assignment hits (stocks sold) and so on.
* TP (Take-Profit)
>>> Contracts Expire at Expiration date: Premium received for selling contracts kept.
>>> Assignment: Premium received for selling contracts kept. Stock is assigned (purchased if Cash Secured Puts were sold | sold if Covered Calls were sold ).
* BE/SL (Break Even Stop-Loss)
>>> Assignment is the stop-loss for this strategy, which ends current trade and starts next one. It is not a direct loss, but could result a long unrealized losses if after stock purchase assignment it goes down for a while or even a complete loss if low-cap company is used and it goes out of business.
>>> BE/SL distance can still be increased/kept optimal: for wider BE/SL > Bid Price needs to be increased:
- Set longer Expiration date.
- Set closer Strike price.
NOTE: With longer Expiration date and closer Strike, chances of assignment increase as well. It's best to find an optimal level, where BE/SL is behind a Support/Resistance level and/or an established Trend Line and/or Large Length Moving Average, yet not extremely far away.
| 3.0_wheel_strategy_tqqq_example.png
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Trading open/close/TP/SL labels, plots and colors explanations:
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There are 3 approaches: Cashed Secured Puts, Covered Puts, Covered Calls. Here is an example showing all 3 (the Strikes, Bid prices, Expirations were chosen realistically).
>>> There are 3 symbol templates, the color can be changed for each and each symbol template can be unchecked to be fully hidden or all 3 can be used.
>>> Strike: dashed horizontal line plotted at chosen Strike, if Strike is hit within the Date Range - there will be a label shown.
>>> BE (Break Even): dotted horizontal line plotted at calculated BE, if BE is hit within the Date Range - there will be a label shown.
>>> Stock Purchased: solid horizontal line plotted at input price at which the stock was purchased.
>>> Date Range (STO >>> Expiration ): vertical lines with arrows (arrows direction is based on the approach), which connect Strike, BE (Break Even) and Stock Purchased creating an square/rectangle of the whole trade, making it easy to see everything at once.
>>> Stats Table: shows all the necessary data for each symbol.
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GLOBAL SETTINGS ///////////////////////////////////////////////////////////
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>>> Show: week divider vertical lines: Will show vertical divider lines separating each week.
>>> Show: Mondays and Fridays: Will show M - for Monday, F - for Friday, T - for Tuesday (Tuesday will be shown if there is a Holiday on Monday)
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OPTIONS SETUP: SYMBOL0X /////////////////////////////////////////////////// | (identical for all 3 symbols)
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>>> Symbol0X | Show Table: Turns on symbol01, all visuals on chart, calculations, etc. Table can be separately hidden if desired.
>>> Label Size: Size of the labels on chart showing Strike, BE (Break Even), etc.
>>> Label Color: Color for all symbol0X labels.
>>> Text Color: Text color for all symbol0X labels.
>>> Options Trading Style: 1)Covered Calls: Bullish-sideways market approach (need to own 100 shares of stock per each contract sold), Strike price has to be set above the current stock price | 2)Covered Puts: Bearish-sideways market approach (need to own 100 shares of stock per each contract sold), Strike price has to be set below the current stock price | 3)Cash Secured Puts: Bullish-sideways approach (need to have enough cash to acquire shares at Strike price if hit), Strike price has to be set below the current stock price.
>>> # of contracts sold (1 contract > 100shares): # of contracts sold per trade, for Covered Calls and Covered Puts, every contract must be backed up by 100shares of the underlying stock.
>>> Price per 1 contract (Bid): Premium received per each contract sold.
>>> Strike Price.
>>> Stock Purchase Price: Stock purchase price (NOTE: This is only for Covered Call and Covered Puts, for Secured Cash Puts - stock is only purchased if at Expiration it closes beyond Strike price).
>>> STO (Sell to Open) Date: date at which the contracts were sold and Premium received.
>>> Exp (Expiration) Date: date at which contracts expire, if price never breaks the Strike at Expiration - contracts become worthless!
>>> Alert/Label: Futures Expire Soon: With this setting turned on, an Alert will trigger and a Label will be shown at opening of the first candle bar on the Expiration date. It will certainly be before the end of the day, however depending on the chart TimeFrame during alert creation - it may trigger at a different time. For Example: On a Daily chart TimeFrame SPY (S&P500) will trigger such alert at 9:30AM ET. ||| NOTE: Due to difference in timezones - the solid lines representing the STO >>> Exp range may be off by 1 business day from the date input in the indicator Settings > Inputs, so double check and calibrate the date by setting it 1 day behind/ahead from actual dates so that Alert is received on the actual Expiration date.
>>> Strike price Broken - Style: 'Close': Show/Alert Strike price broken only once candle bar is closed | 'Live': Show/Alert Strike price broken immediately once it happens, before candle bar is closed.
>>> Show: Strike price Broken: will show a label near candle bar breaking the Strike price.
>>> Alert: Strike price Broken: will alert at price breaking the Strike price.
>>> BE (Break Even) price Broken - Alert Style: 'Close': Show/Alert BE (Break Even) price broken only once candle bar is closed | 'Live': Show/Alert BE (Break Even) price broken immediately once it happens, before candle bar is closed.
>>> Show: BE (Break Even) price Broken: will show a label near candle bar breaking the BE price.
>>> Alert: BE (Break Even) price Broken: will alert at price breaking the BE price.
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TA: TREND LINES ///////////////////////////////////////////////////////////
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>>> Trend Lines - Uptrend/downtrend colors
>>> Show: Trend Lines: Show/Hide trend lines
>>> Show: Trend Line Breaks: Show/Hide labels where trend lines were broken
>>> Alert: Trend Line Breaks: Alert when trend line is broken
>>> Trend Lines - Search - Left Bars / Trend Lines - Search - Right Bars: how many candle bars will be used to calculate Trend Lines, the bigger the number > the more precise and less amount of trend lines will be found
>>> Trend Lines - Extend Setting
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TA: S&R (SUPPORT AND RESISTANCE) //////////////////////////////////////////
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>>> S&R (Support and Resistance) - Support/Resistance colors.
>>> Show: S&R (Support and Resistance) Top/Bottom Levels.
>>> Show: S&R (Support and Resistance) Top/Bottom Level Breaks: Show/Hide labels where support/resistance levels were broken
>>> Alert: S&R (Support and Resistance) Top/Bottom Level Breaks: Alert when S&R (Support and Resistance) level is broken
>>> S&R (Support and Resistance) - Search - Left Bars / S&R (Support and Resistance) - Search - Right Bars: how many candle bars will be used to calculate S&R (Support & Resistance) Levels, the bigger the number > the more precise and less amount of support and resistance levels will be found.
>>> S&R Search - Custom Resolution: This is a custom timeframe setting specifically for S&R Search, it disregards current chart timeframe. This is great to use for scalping, for example: with main chart set to 1min and the custom timeframe set to 3min or 5min - there will be stronger support/resistance levels with more detailed price action.
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TA: ADDITIONAL TOOLS //////////////////////////////////////////////////////
>>> Show - MA (Moving Average).
>>> Show - ATR (Average True Range).
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STATS TABLE ///////////////////////////////////////////////////////////////
Stats Table displays all the necessary date about each options setup.
>>> Table positioning
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Adding Alerts in TradngView
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-Add indicator to chart and make sure to check/uncheck which alerts are required, then simply create it.
-Right-click anywhere on the TradingView chart
-Click on Add alert
-Condition: Select this indicator by it’s name
-Immediately below, change it to "alert() function calls only"
-Expiration: Open-ended (that may require higher tier TradingView account, otherwise the alert will need to be occasionally re-triggered)
-Alert name: Whatever you desire
-Hit “Create”
-Note: If you change ANY Settings within the indicator – you must DELETE the current alert and create a new one per steps above, otherwise it will continue triggering alerts per old Settings!
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If you have any questions or issues with the indicator, please message me directly via TradingView.
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Good Luck! (NOTE: Trading is very risky, past performance is not necessarily indicative of future results, so please trade responsibly!)
MTF Workbench [WinWorld]WHAT IS THIS?
This is MTF Workbench — an indicator, which is based on World Class SMC, but has one main feature — multi-timeframe analysis.
WHY MAKING MTF FEATURE AS A SEPARATE INDICATOR?
We weren't able to implement this feature in the World Class SMC itself due to huge size and complexity of the script, so we have re-written the entire script and optimized it to implement MTF and decided to make a separate script for MTF features in order to not make World Class SMC any heavier, because otherwise the script would probably not even load up on the chart.
WHAT ARE THE FEATURES?
MTF Workbench has two features for now: dashboard and structure mapping. But there will be more soon!
DASHBOARD
Dashboard gathers data from 4 different timeframes and visualize the results in the nice little table on the chart. It is useful to have a dashboard because it visualizes important data in a simple way.
The settings of the dashboard are:
- Position. this settings has 2 subsettings: vertical position (bottom, middle, top) and horizontal position (left, center, right). These subsettings allow you to place dashboard on any side of the chart;
- Text size. This settings defines size of the text in the dashboard, simple as that;
- Timeframe #1, #2, ..., #4. These four settings allow you to choose 4 different timeframes for the table to gather data from.
How to read the dashboard:
- The colour of the specific data cell is the current trend of selected timeframe;
- IDM ⧖ — price has not reached IDM yet;
- IDM ✓ — price grabbed IDM.
This is it for dashboard, now for structure mapping.
STRUCTURE MAPPING
By structure we mean IDM, BoS and ChoCh (if you don't what this means, refer to World Class SMC description to learn the terms, we won't explain it here). In our main indicator structure was only drawn for the timeframe you were currently using, but now you can choose whatever timeframe you want to get structure from!
Why do this matter? Well, this feature alone allows to perform so called intern-structure analysis, because now you will able to compare current timeframe's structure to a higher timeframe's structure and get an a sufficient amount of edge about what Smart Money are doing.
* And yes, this feature only works for analyzing higher timeframes!
The structure itself is plotted the same way as it is in our main indicator, but we also add timeframe to the specific structure event (event is when price reaches IDM, BoS or ChoCh lines) so you could differentiate internal-structure events from any other events.
Live structure is also available in this indicator.
WHY USE THIS INDICATOR?
Even though there a lot of structure mapping indicators with MTF features, they don't have what MTF Workbench has — the correct core structure-mapping algorithm. We took our core structure-mapping algorithm and put it into MTF Workbench to finally bring MTF analysis to life to work state-of-the-art structure-mapping algorithm, which gives any user a huge edge in the market by a very simple reason — this algorithm actually works. Our algorithm proved itself to be efficient and it helps map structure without human intervention, which is a huge leap in smart money trading. To this day we were not able to find an algorithm which would match the quality of our algo! Which why we think making an MTF version of our algorithm is a good thing to do, because now users can finally work with current timeframe and see information about structure from other timeframes using only ONE chart. If you are smart-money trader, you understand that this is a HUGE thing.
For PineScript moderators
We know the rule not publish slightly modifie version of some indicator as another indicator, but this is not a slightly different version. MTF Workbench was completely re-writtten from scratch and optimized so it could fint PineSript's code restrictions such as 500 max local scopes, which World Class SMC with MTF Workbench's features exceeded way too far.
Also, by referencing our World Class SMC indicator we don't promote it in any way. The reference is only made with purposes of
1) Informational reference to help users learn specific terms.
2) Informational reference to some of the World Class SMC features to give users a clue about what exactly MTF Workbench does.
We hope that you will find a great use from MTF Workbench as we did and it will help your level up your edge!
Sincerely, WinWorld Team.
Automating wealth creation since 2022.
Price Action Toolkit | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Price Action Toolkit indicator! Price Action Toolkit integrates key level strategy , traditional supply-demand analysis , and market structures to help traders in their decisions. Now with features that are available to use in multiple timeframes!
Features of the new Price Action Toolkit indicator :
Volumized Fair Value Gaps (FVGs)
Volumized Order & Breaker Blocks
Identification of Market Structures
Equal Highs & Lows
Buyside & Sellside Liquidity
Premium & Discount Zones
MTF Highs & Lows (Daily, Weekly, Monthly, Pre-Market)
Customizable Settings
📌 HOW DOES IT WORK ?
We believe that the analytical elements that are within this indicator work best when they co-exist with each other on the chart. Trading often requires taking multiple elements into consideration for better accuracy on market analysis. Thus, we combined some of the useful strategies in one indicator for ease of use.
1. Volumized Fair Value Gaps
Fair value gaps often occur when there is an imbalance in the market, and can be spotted with a specific formation on the chart.
The volume when the FVG occurs plays an important role when determining the strength of it, so we've placed two bars on the FVG zone, indicating the high & low volumes of the FVG. The high volume is the total volume of the last two bars on a bullish FVG, while the low volume is - of the FVG. For a bearish FVG, the total volume of the last two bars is the low volume. The indicator can also detect FVGs that exist in other timeframes than the current chart.
2. Volumized Order Blocks
Order blocks occur when there is a high amount of market orders exist on a price range. It is possible to find order blocks using specific formations on the chart.
The high & low volume of order blocks should be taken into consideration while determining their strengths. The determination of the high & low volume of order blocks are similar to FVGs, in a bullish order block, the high volume is the last 2 bars' total volume, while the low volume is the oldest bar's volume. In a bearish order block scenerio, the low volume becomes the last 2 bars' total volume.
3. Volumized Breaker Blocks
Breaker blocks form when an order block fails, or "breaks". It is often associated with market going in the opposite direction of the broken order block, and they can be spotted by following order blocks and finding the point they get broken, ie. price goes below a bullish order block.
The volume of a breaker block is simply the total volume of the bar that the original order block is broken. Often the higher the breaking bar's volume, the stronger the breaker block is.
4. Market Structures
Sometimes specific market structures form and break as the market fills buy & sell orders. Formed Change of Character (CHoCH) and Break of Structure (BOS) often mean that market will change direction, and they can be spotted by inspecting low & high pivot points of the chart.
5. Equal Highs & Lows
Equal Highs & Lows occur when there is a significant amount of difference between a candle's close price and it's high / low value, and it happens again in a specific range. EQH and EQL usually mean there is a resistance that blocks the price from going further up / down.
6. Buyside & Sellside Liquidity
Buyside & Sellside Liquidity zones are where most traders place their take-profits and stop-losses in their long / short positions. They are spotted by using high & low pivot points on the chart.
7. Premium & Discount Zones
The premium zone is a zone that is over the fair value of the asset's price, and the discount zone is the opposite. They are formed by the latest high & low pivot points.
8. MTF Highs / Lows
MTF Highs / Lows are actually pretty self-explanatory, you can enable / disable Daily, Weekly, Monthly & Pre-Market Highs and Lows.
🚩UNIQUENESS
Our new indicator offers a comprehensive toolkit for traders, combining multiple analytical elements with customizable settings to aid in decision-making across different market conditions and timeframes. The volumetric information of both FVGs and Order & Breaker Blocks will be present in your chart to serve you greater detail about them. The indicator also efficiently identifies market structures, liquidity zones and premium & discount zones to give you an insight about the current state of the market. And finally with the use of multiple timeframes , you can easily take a look at the bigger picture. We recommend reading the "How Does It Work" section of the descripton to get a better understanding about how this indicator is unique to others.
⚙️SETTINGS
1. General Configuration
Show Historic Zones -> This will show historic Fair Value Gaps, Order & Breaker Blocks and Sellside & Buyside liquidities which are expired.
2. Fair Value Gaps
Enabled -> Enables / Disables Fair Value Gaps
Volumetric Info -> The volumetric information of the FVG Zones will be rendered if activated.
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.
3. Order Blocks
Enabled -> Enables / Disables Order Blocks
Volumetric Info -> The volumetric information of the Order Blocks will be rendered if activated.
Zone Invalidation -> Select between Wick & Close price for Order Block Invalidation.
Swing Length -> Swing length is used when finding order block formations. Smaller values will result in finding smaller order blocks.
4. Breaker Blocks
Enabled -> Enables / Disables Breaker Blocks
Volumetric Info -> The volumetric information of the Breaker Blocks will be rendered if activated.
Zone Invalidation -> Select between Wick & Close price for Breaker Block Invalidation.
5. Timeframes
You can set and enable / disable up to 3 timeframes. Note that only higher timeframes than the current chart will work.
6. Market Structures
Break Of Structure ( BOS ) -> If the current structure of the market is broken in a bullish or bearish direction, it will be displayed.
Change Of Character ( CHoCH ) -> If the market shifts into another direction, it will be displayed.
Change Of Character+ ( CHoCH+ ) -> This will display stronger Change Of Characters if enabled.
7. Equal Highs & Lows
EQH -> Enables / Disables Equal Highs.
EQL -> Enables / Disables Equal Lows.
ATR Multiplier (0.1 - 1.0) -> Determines the maximum difference between highs / lows to be considered as equal. Lower values will result in more accurate results.
8. Buyside & Sellside Liquidity
Zone Width -> Determines the width of the liquidity zones, 1 = 0.025%, 2 = 0.05%, 3 = 0.1%.
9. Premium & Discount Zones
Enabled -> Enables / Disables Premium & Discount Zones.
10. MTF Highs / Lows
You can enable / disable Daily, Weekly, Monthly & Pre-Market Highs and Lows using this setting. You can also switch their line shapes between solid, dashed and dotted.
Logarithmic Volatility Direction Index [IkkeOmar]The LVDI is a Mean-Reversion Indicator. it doesn't detect trends and does not give a signal per se.
What it does is tell you if we have a flashcrash based on the price action and volume that is available. It is not always easy to see with the naked eye, so this indicator can help you DCA into an asset in a smarter way, if you couple it with other trend systems.
Think of this indicator like a form of a volatility index.
Inputs:
len and lenWMA are integers representing different lengths for calculations, and src is the data source
Keep in mind that "Length" is the lookback for the WMA, and the Length smooting is the lookback for the SMA of the "volume_weighted".
WMA Calculation
wma_basic = math.log10(ta.wma(src, len))
This calculates the logarithm (base 10) of the Weighted Moving Average (WMA) of the source data over len periods. WMA is a type of moving average giving more importance to recent data. The reason I use log10, is to make it transformative over a longer timeframe. This makes it easier to see the growth direction. I like to use this for crypto, since there is asymetric upside.
Volume Filter:
average_volume = ta.sma(volume, lenWMA)
volume_weighted = math.log10(wma_basic * (volume / math.log10(average_volume)))
Here, the script first calculates the Simple Moving Average (SMA) of the trading volume over lenWMA periods. Then, it computes a volume-weighted value of the WMA, adjusted by the logarithmic ratio of current volume to average volume.
Distance and Score Calculation:
distance = math.log10(src) - math.log10(volume_weighted)
score = math.sign(distance) * math.pow(math.abs(distance), 2)
The script calculates the logarithmic difference between the source data and the volume-weighted WMA. The score is determined by the sign of this distance multiplied by its square. This potentially amplifies the impact of larger distances.
Plotting:
plot(volume_weighted, title="Volume Weighted WMA", color=color.blue, linewidth = 2)
plot(ta.sma(volume_weighted, lenWMA), title="Volume Weighted WMA", color=color.rgb(189, 160, 0))
Mathematical concepts
Weighted Moving Average (WMA):
WMA is a moving average that assigns more weight to recent data points. The idea is that recent prices are more relevant to the current trend than older prices.
Logarithms:
The use of log10 (logarithm base 10) is interesting. Logarithms help in normalizing data and can make certain patterns more visible, especially when dealing with exponential growth or decay.
Volume Weighting:
Multiplying the WMA by the ratio of current volume to average volume (both logarithmic) integrates volume into the analysis. High trading volume can signify stronger market interest and can thus validate price movements.
Distance and Score:
The distance measures how far the current price is from the volume-weighted WMA on a logarithmic scale. The score squares this distance, potentially highlighting large divergences.
Case example
In the case above (which is a low timeframe that shouldn't be your main system) we see the blue line going up before going below the moving average line (orange). This indicates a local bottom zone. Does that mean that we wont go lower? No! What you can do is calculate a zone range.
We have an average line, you can get that from the POC with the VRVP.
Then you take the low and high of that zone and take the average:
(3.17% + 2.33%) / 2 = 2.75%
This means that we expect that the price can fall an additional 2.75%! Low and behold. When you check the same chart as above:
Hope it makes sense!
Stay safe everyone!
Don't hesitate to ask any questions if you have any!
LuxAlgo - Backtester (OSC)The OSC Backtester is an innovative strategy script that allows users to create a wide variety of strategies using various unique oscillators.
By utilizing our 'Step' and 'Match' algorithms, users can create custom and complex strategy entries from each of the supported oscillators and included conditions, as well as any external sources, allowing users to create entries from a sequence of conditions and/or multiple matching conditions.
We included a complete alert system that will send a notification for each action taken by the strategy and we also allow users to set custom messages for each action taken by a strategy.
🔶 Features
🔹 Step & Match Algorithm
More complex entry rules can be created by using multiple conditions together, this is done thanks to the Step dropdown setting on the right of each condition.
The Step setting is directly related to the Step & Match algorithm and works in two ways:
When two or more conditions have the same step number, both conditions are evaluated. Used to test matching conditions.
When two or more conditions have different step numbers, each conditions will be evaluated in order, testing for the first step and switching to the next step once the previous one is true. When the final step is true the strategy will open a market order. Used to create sequence of conditions.
This operation is complementary, as you can create a sequence of conditions with one step consisting of two or more matching conditions as long as they have the same step number.
🔹 Fully Customizable Entries From Various Oscillators And Conditions
We allow the users to set entries using our unique HyperWave, Smart Money Flow, and their derived conditions as entries.
The Hyper Wave is a normalized adaptive oscillator aiming to reflect price trends without returning a high amount of noise.
The Smart Money Flow aims to detect trends based on market activity, by doing a comparative analysis between current volume and historical volume. A Smart Money Flow above 50 suggest market participants are bullish, else bearish. Derived from this oscillator we have Overflow indications, this indicator detects when market is overbought or oversold based on participants activity.
Other entries include proprietary reversal signals, real-time divergence detection, oscillator confluence (indicating how aligned each oscillator is), as well as entries using external sources.
🔹 Complete Alert System
Users can get alerted for any action executed by a strategy, from opening positions to closing them.
The message field in the Alert Messages setting section allows for the strategy to send a custom alert message depending on the action taken by the strategy, if no messages are set the strategy will send default messages.
🔶 Usage
Users can create a wide variety of strategies from this script, whether they are trend-following or contrarian traders.
Let's see a contrarian (revesal-based) strategy example using the following entry conditions:
Long: Hyperwave bullish divergence and oversold Hyperwave (lower than 20).
Short: Hyperwave bearish divergence and overbought Hyperwave (greater than 20).
We can also introduce take-profit and stop-loss exit conditions based on external indicators, allowing more control over exits in our strategy. For example:
Long: Hyperwave crossing over 50 while money flow is bearish.
Short: Hyperwave crossing under 50 while money flow is bullish.
Exit Long on a profit (long exit tp): Hyperwave crossing 80.
Exit Short on a profit (short exit tp): Hyperwave crossing 20.
While this strategy script can be used as a standalone, we recommend using other indicators creatively to assist with entries and exits as well as TP/SLs.
Our Step & Match algorithm can magnify interoperability, allowing for way more complete strategies through complex conditions, let's demonstrate this using the following entries:
Long: Any bullish reversal occurring after the price crosses over the lowest upper reversal zone of the Signals & Overlays™.
Short: Any bearish reversal occurring after the price crosses under the highest lower reversal zone of the Signals & Overlays™.
Long TP/SL: 5 ATR's away from the entry price.
Short TP/SL: 5 ATR's away from the entry price.
🔶 Strategy Properties (Important)
This script backtest is done on daily EURGBP, using the following backtesting properties:
Balance (default): 10 000 (default base currency)
Order Size: 10% of the equity
Comission: 3.4 pips (average spread for EURGBP)
Slippage: 3 tick
Stop Loss: 0.02 points away from entry price
We use these properties to ensure a realistic preview of the backtesting system, do note that default properties can be different for various reasons described below:
Order Size: 1 contract by default, this is to allow the strategy to run properly on most instruments such as futures.
Comission: Comission can vary depending on the market and instrument, there is no default value that might return realistic results.
We strongly recommend all users to ensure they adjust the Properties within the script settings to be in line with their accounts & trading platforms of choice to ensure results from the strategies built are realistic.
🔶 How To Access
You can see the Author's Instructions below to learn how to get access.
Volume Spread Analysis [Ahmed]Greetings everyone,
I'm thrilled to present a Pine Script I've crafted for Volume Spread Analysis (VSA) Indicator. This tool is aimed at empowering you to make smarter trading choices by scrutinizing the volume spread across a specified interval.
The script delivers a comparative volume analysis, permitting you to fix the type and length of the moving average. It subsequently delineates the moving average (MA), MA augmented by 1 standard deviation (SD), and MA increased by 2 SD. You can fully personalize the color coding for these echelons.
Volume Spread Analysis is an analytical technique that scrutinizes candles and the volume per candle to predict price direction. It considers the volume per candle, the spread range, and the closing price.
To effectively leverage VSA, you need to adhere to a few steps:
1. Ensure you use candlesticks for trading. Other chart types like line, bar, and renko charts may not yield optimal results.
2. Confirm that your broker provides reliable volume data.
3. Be mindful of the chart's timeframe. Volume analysis may not be effective on very short timeframes such as a minute chart. I recommend using daily, weekly, or monthly charts.
Another tip is to examine the spread between the price bars and the volume bars to discern the trend.
The script not only makes it easier to integrate these principles into your trading but also brings precision and convenience to your analysis.
Please remember to adhere to Tradinview terms of service when using the script. Happy trading!
[Round Numbers] Signal Clean Up Analysis with Backtest (TSO)Round Numbers NEW GEN indicator!
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This is a full-cycle trading system indicator - it will show and alert each step of the trade from open to close. The algorithm here uses Round Numbers for generating signals, TP (Take Profit) and SL (Stop Loss) levels. Round numbers play big role in trading and can easily become strong support and resistance levels where price can bounce and go the opposite way or go through with a very nice run afterwards.
In addition there is a chained (NOTE: You can select several or ALL of the features, this is not limited to either one) signal cleanup and analysis approach with scheduling and alerting capabilities. Works with most popular timeframes: 1M, 3M, 5M, 15M, 30M, 1H, 4H, D.
NOTE: Every action of the trade is calculated on a confirmed closed candle bar state (barstate.isconfirmed), so the indicator will never repaint!
NOTE: At position open - there will be calculated Take-Profit and Stop-Loss targets, however each target is considered hit, when candle bar closes breaking that target, so Take-Profit and Stop-Loss when hit will slightly differ then what you see at trade/position open.
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Round Numbers up|down unit setting and overall explanation
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Round Number up|down unit: is the distance between round numbers on the chart. Since these round number levels are also used by the algorithm to open/close trades, it is important to set this setting to a logical number, which will correspond to an average price movement of the instrument.
Here are some examples for a few popular instruments on what will the default 1 round number unit correspond to and what would be suggested:
BTCUSD > $1 (this won't work for Bitcoin, try at least $100 - 100units)
SPY: > $1 (one of the best settings for SPY or QQQ, 50cents shows good results as well - 0.5units)
FOREX (all major pairs): > 10PIPs (that may be a bit small, unless scalping, try 50PIPs - 5units)
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Explanation of all the Features | Strategy Configuration Guide | Indicator Settings | Signal Cleanup Analysis
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>>> Customizable Backtesting for a specific date range, results via TradingView strategy, which includes “Deep Backtesting” for largest amounts of data on trading results.
>>> Trading Schedule with customizable trading daily time range, automatic closing/alert trades before Power Hour or right before market closes or leave it open until next day.
>>> 3 Trading Systems.
>>> Static/Dynamic/Trailing Take-Profit and Stop-Loss setups (HIGHLIGHT: Stop-Loss will be moved to Entry after TP1 is taken or a smart trailing Stop-Loss can be used with Stop-Loss dynamically following the trade to minimize risk).
>>> Single or Multiple profit targets (up to 5).
>>> Take-Profit customizable offset feature (set your Take-Profit targets slightly before everyone is expecting it!).
>>> Candle bar signal analysis (matching candle color, skip opposite structured and/or doji candle uncertain signals).
>>> Additional analysis of VWAP/EMA/ATR/EWO (Elliot Wave Oscillator)/Divergence MACD+RSI/Volume signal confirmation (clean up your chart with indicator showing only the best potential signals!).
>>> Advanced Alerts setup, which can be potentially setup with a trading bot over TradingView Webhook (NOTE: This will require advanced programming knowledge).
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Labels, plots, colors explanations:
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>>>>> LONG open: green "house" looking arrow below candle bar.
>>>>> SHORT open: red "house" looking arrow above candle bar.
>>>>> LONG/SHORT take-profit target: green/red circles (multi-profit > TP2/3/4/5 smaller circles).
>>>>> LONG/SHORT stop-loss target: green/red + crosses.
>>>>> LONG/SHORT take-profit hits: green/red diamonds.
>>>>> LONG/SHORT stop-loss hits: green/red X-crosses.
>>>>> LONG/SHORT EOD (End of Day | Intraday style) close (profitable trade): green/red squares.
>>>>> LONG/SHORT EOD (End of Day | Intraday style) close (loss trade): green/red PLUS(+)-crosses.
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Date Range and Trading Schedule Settings
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>>>>> Date Range: Select your start and/or end dates (uncheck “End” for indicator to show results up to the very moment and to use for LIVE trading) for backtesting results, if not using backtesting – uncheck “Start”/“End” to turn it off.
>>>>> Use TradingView “Strategy Tester” to see backtesting results
NOTE: If Strategy Tester does not show any results with Date Ranged fully unchecked, there may be an issue where a script opens a trade, but there is not enough TradingView power to set the Take-Profit and Stop-Loss and somehow an open trade gets stuck and never closes, so there are “no trades present”. In such case you will need to manually check “Start”/“End” dates or use “Depp Backtesting” feature!
>>>>> Trading Schedule: This is where you can setup Intraday Session or any custom session schedule you wish. Turn it ON. Select trading hours. Select EOD (End of Day) setting (NOTE: If it will be OFF, the indicator will assume you are holding your position open until next day!). Please note the EOD trade closure times with the 2 different Intraday close settings when turned on:
At Market Close:
1/3/5min > will close at 15:55pm ET
15min > will close at 15:45pm ET
30min > will close at 15:30pm ET
45min > will close at 15:45pm ET
60min > will close at 15:00pm ET
Before Power Hour:
1/3/5min > will close at 15:00pm ET
15min > will close at 15:00pm ET
30min > will close at 15:00pm ET
45min > will close at 15:00pm ET
60min > will close at 15:00pm ET
>>> Trading Systems: 1) "Open Until Closed by TP or SL": the signal will only open a trade if no trades are currently open/trunning, a trade can only be closed by Take Profit, Stop Loss or End of Day close (if turned on) | 2) "Open Until Closed by TP or SL + OCA": Same as 1), but if there is an opposite signal to the trade which is currently open > it will immediately be closed with new trade open or End of Day close (if turned on) | 3) "OCA (no TP or SL)": There are is Take Profit or Stop Loss, only an opposite signal will close current trade and open an opposite one or End of Day close (if turned on).
>>> Turn On/Off: Current Position SL + Opposite Position Open Signal on the same closing candle bar (If current trade hits Stop-Loss and at that same closing candle bar there is a signal for an opposite direction trade > indicator will close current position as Stop-Loss and immediately open an opposite position). NOTE: With this option turned on, there will be more trades, but not necessarily better results, since after Stop-Loss is hit, it may make sense to wait a little before opening an opposite trade, even if it matches the condition at the same time when Stop-Loss is hit, but sometimes it shows great results, so this setting/feature is included. NOTE: This setting only will work/make sense with TP and SL style/behavior both be set to "Fully Closed Candle"!
>>> Turn On/Off: Turn On/Off: Current Position REGULAR SL | Only the SL + Opposite Position Open will trigger if turned on, IF NOT - THERE WILL BE NO STOP-LOSS AT ALL!!! NOTE: It is very dangerous to trade without Stop-Loss!
>>>>> Signal Candle Bar consuming Take-Profits - position/trade signal candle bar is big enough to "consume"/close ahead the first TP setting > the signal can either be skipped, or all Take-Profit areas pushed ahead using smart formula)
>>>>> MULTIPROFIT | TP (Take-Profit) System: 1) Static – Once the trade is open, all Take-Profit target(s) are immediately calculated and set for the trade > once the target(s) is hit > trade will be partially closed (if candle bar closes beyond several Take-Profit targets > trade will be reduced accordingly to the amount of how many Take-Profit targets were hit) ||| 2) Dynamic – Once the trade is open, only the 1st Take-Profit target is calculated, once the 1st Take-Profit is hit > next Take-Profit distance is calculated based on the distance from trade Entry to where 1st Take-Profit was taken, once 2nd Take-Profit is taken > 3rd Take-Profit is calculated per same logic, these are good for price momentum as with price speeding up – profits increase as well!
>>>>> MULTIPROFIT: SL (stop loss) System | Static: SL is set at position open and remains such; Dynamic: Once ANY TP is taken > SL will be moved to Entry; Trailing: SL will be moved along the position (smart trailing stop-loss), at TP1 taken > SL moves to Entry, at TP2 taken > SL moves to TP1, at TP3 taken > SL moves to TP2 and so on.
>>>>> # of TPs (number of take profit targets): Just like it is named, this is where you select the number of Take-Profit targets for your trading system (NOTE: If "OCA (no TP or SL)" Trading System is selected, this setting won’t do anything, since there are no TP or SLs for that system).
>>>>> TP(s) offset: This is a special feature for all Take-Profit targets, where you can turn on a customizable offset, so that if the price is almost hitting the Take-Profit target, but never actually touches it > you will capture it. This is good to use with HHLL (Highest High Lowest Low), which is pretty much a Support/Resistance as often the price will nearly touch these strong areas and turn around…
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Dynamic/Static/Trailing Take-Profit and Stop-Loss visual examples:
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1) Fully Static Take-Profit and Stop-Loss
This one is a fully static setup for both Take-Profit and Stop-Loss, you can also observe how trade is closed right before the Power Hour (trade can be closed right before Power Hour or right before Market Closes or left overnight as desired).
2) Static/Dynamic, Static Take-Profit and Dynamic Stop-Loss
You can see a static Take-Profit set at position open, while Stop-Loss moves to Entry once TP1 target is taken.
3) Static/Trailing, Static Take-Profit and Trailing Stop-Loss
In here with each Take-Profit taken, Stop-Loss moves along the trade to previous Take-Profit level, you can notice how stop-loss literally follows the trade and reduces the potential loss.
4) Dynamic/Trailing, Dynamic Take-Profit and Trailing Stop-Loss
See how Take-Profit distances increase with price momentum. Just like in previous example - Trailing Stop-Loss is following the trade and reducing the riks.
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Signal Analysis and Cleanup Settings
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>>>>> Candle Analysis | Candle Color signal confirmation: If closed candle bar color does not match the signal direction > no trade will be open.
>>>>> Candle Analysis | Skip opposite candle signals: If closed candle bar color will match the signal direction, but candle structure will be opposite (for example: bearish green hammer, long high stick on top of a small green square) > no trade will be open.
>>>>> Candle Analysis | Skip doji candle signals: If closed candle bar will be the uncertain doji > no trade will be open.
>>>>> Divergence/Oscillator Analysis | EWO (Elliot Wave Oscillator) signal confirmation: LONG will only be open if at signal, EWO is green or will be at bullish slope (you can select which setting you desire), SHORT if EWO is red or will be at bearish slope.
>>>>> Divergence/Oscillator Analysis | VWAP signal confirmation: LONG will only be open if at signal, the price will be above VWAP, SHORT if below.
>>>>> Divergence/Oscillator Analysis | Moving Average signal confirmation: LONG will only be open if at signal, the price will be above selected Moving Average, SHORT if below.
>>>>> Divergence/Oscillator Analysis | ATR signal confirmation: LONG will only be open if at signal, the price will be above ATR, SHORT if below.
>>>>> Divergence/Oscillator Analysis | RSI + MACD signal confirmation: LONG will only be open if at signal, RSI + MACD will be bullish, SHORT if RSI + MACD will be bearish.
>>>>> Volume signal confirmation: LONG/SHORT will only be opened with strong Volume matching the signal direction, by default, strong Volume percentage is set to 150% and weak to 50%, but you can change it as you desire.
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TP System - VERY IMPORTANT INFO!
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"TP PERCENTAGE" - amount by which current trade/position needs to be reduced/partially closed/sold.
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TP System: Dynamic
"TP PERCENTAGE" - will always be the same amount (trade/position size divided by the # of take-profit(TP) targets) and percentage to be closed will always be of the ORIGINAL trade/position.
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TP System: Static
"TP PERCENTAGE" - will always be the same amount IF take-profit(TP) targets are hit 1-by-1 (TP1 > TP2 > TP3 > TP4 > TP5), otherwise it will vary and unless it is a 1st take-profit(TP1), the REMAINING trade/position size will always be smaller than original and therefore the percentage to be closed will always be of the REMAINING trade/position and NOT the original one!
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"TP PERCENTAGE" CheatSheet (these are the only percentages you may see)
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TP PERCENTAGE---Close/Sell Amount-------------Example (trade size: 50 stocks)
20%-------------trade size * 0.2--------------50 * 0.2 = 10 stocks
25%-------------trade size * 0.25-------------50 * 0.25 = 12.5(~13) stocks
34%-------------trade size * 0.34-------------50 * 0.34 = 17 stocks
40%-------------trade size * 0.4--------------50 * 0.4 = 20 stocks
50%-------------trade size * 0.5--------------50 * 0.5 = 25 stocks
60%-------------trade size * 0.6--------------50 * 0.6 = 30 stocks
66%-------------trade size * 0.66-------------50 * 0.66 = 33 stocks
75%-------------trade size * 0.75-------------50 * 0.75 = 37.5(~38) stocks
80%-------------trade size * 0.8--------------50 * 0.8 = 40 stocks
100%------------trade size--------------------50 = 50 stocks
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If for any reason a portion of the current/remaining trade closed at such occurrence was slightly wrong, it is not an issue. Such occurrences are rare and with slight difference in partial TP closed is not significant to overall performance of our algorithms.
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Alert Settings (you don’t have to touch this section unless you will be using TradingView alerts through a Webhook to use with trading bot)
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Here is how a LONG OPEN alert looks like.
NOTE: Each label , , etc. is customizable, you can change the text of it within indicator Input settings.
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
LONG: OPEN
ENTRY: 20000
TP1: 20500
TP2: 21000
TP3: 21500
TP4: 22500
TP5: 23500
SL: 19000
Leverage: 0
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Here is how a TP1 alert will look with 5 TPs breakdown of the trade.
NOTE1: Next to TP1 taken it will show at which price it was triggered.
NOTE2: Next to "TP Percentage" it shows how much of the CURRENT/ACTIVE/REMAINING trade needs to be closed.
NOTE2: If TP2/3/4/5 comes before TP1 - the alert will tell you exactly how many percent of the trade needs to be closed!
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
LONG: TP1
TP1: 20500
TP Percentage: 20%
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Here is how an alert will look for LONG - STOP-LOSS.
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
ENTRY: 20000
LONG: SL
SL: 19000
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Here is how an alert will look for LONG - EOD (End of Day) In Profit close.
ALERT >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
COIN: BTCUSD
TIMEFRAME: 15M
LONG: EOD-Close (profit)
ENTRY: 20000
EOD-Close: 21900
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Adding Alerts in TradngView
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-Add indicator to chart and make sure the correct strategy is configured (check Backtesting results)
-Right-click anywhere on the TradingView chart
-Click on Add alert
-Condition: Select this indicator by it’s name
-Immediately below, change it to "alert() function calls only", as other wise there will be 2 alerts for every alert!
-Expiration: Open-ended (that may require higher tier TradingView account, otherwise the alert will need to be occasionally re-triggered)
-Alert name: Whatever you desire
-Hit “Create”
-Note: If you change ANY Settings within the indicator – you must DELETE the current alert and create a new one per steps above, otherwise it will continue triggering alerts per old Settings!
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If you have any questions or issues with the indicator, please message me directly via TradingView.
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Good Luck! (NOTE: Trading is very risky, past performance is not necessarily indicative of future results, so please trade responsibly!)
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NOTE: There seems to be a strange glitch when strategy is running live, it will show "double-take" take-profits labels on the chart. This is not affecting the script logic and backtesting results, if you simply change the timeframe real quick to something else then back - it will no longer show the duplicate orders... this must be some sort of a glitch as every alert was thoroughly tested to make sure everything is working!
HTF Candle Insights (Expo)█ Overview
The HTF Candle Insights indicator helps traders see what's happening in larger time frames (HTF) while they're looking at smaller ones. This tool lets traders get a complete picture of market trends and price movements, helping them make smarter trading choices. It's really useful for traders who want to understand the main market trends without constantly switching between different chart timeframes.
In simpler terms , this indicator brings the big picture into the smaller frame, so traders don't miss out on what's important while focusing on the details.
█ How It Works
The indicator plots HTF candles on the existing chart, allowing users to view them concurrently with the candles of the current timeframe. This dual visual representation helps in discerning the prevalent market trends and significant price levels from both the current and higher timeframes.
█ How to Use
Trend Analysis
Traders can leverage this indicator to analyze overall market trends by observing HTF candles alongside the current timeframe candles. Recognizing HTF trends aids in aligning trades with the dominant market movement, potentially increasing the probability of successful trades.
Support and Resistance Identification
By viewing the high, low, and mid-levels of HTF candles, traders can identify potential support and resistance zones, enabling them to establish strategic entry and exit points, place stop-losses effectively, and manage risk proficiently.
█ Settings
Timeframe and Candle Amount:
Users can specify the higher timeframe and the number of HTF candles they wish to visualize on their current chart.
Visual Adjustments:
Traders can customize the color schemes for upward and downward candles and their wicks, and adjust the visibility and colors of the range lines, allowing for a tailored visual experience.
Range Lines:
Users have the option to display the high/low range of the displayed candles, and, if preferred, the mid-range line, enabling them to gain insights into significant price levels and ranges.
Table Display:
The indicator offers the ability to display a table, which provides an overview of the current chart's timeframe and the specified HTF.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
