ICT New Day Opening GapNew Day Opening Gap
The New Day Opening Gap (NDOG) is defined by The Inner Circle Trader (ICT) as the separation in time/price that is caused by the 1-hour break that occurs each day in the futures market. The opening price of the gap is the very first tick that occurs at the 6:00pm restart; then we look at the 5:00pm closing price of the previous session. This New Day Opening Gap forms every day from Monday to Friday, but it does not include the gap between Friday's close and Sunday's open (because that is instead referred to as a New Week Opening Gap).
This is an example of a New Day Opening Gap (NDOG) for Wednesday, May 22, 2024 in CME_MINI:ES1!
How To Use NDOG
When an NDOG forms, it can be extended into future price action. One way to use these gaps is to look for it to be filled in by price action. Another usage for these gaps is to look for support & resistance to come in at the high and low of these NDOGs (as well as the midpoint).
Disclaimer
This indicator is mainly intended to work for Futures markets, and specifically the following Index Futures markets: E-mini S&P 500 Futures, E-mini NASDAQ-100 Futures, E-mini DOW Futures.
Given that, the indicator still supports various other markets/assets out-of-the-box, such as other types of Futures Markets, Forex markets, Stocks, Options, and more. The main difference will be that other markets may have NDOGs forming at different times, rather than the 5pm-6pm gap that occurs in the Index Futures.
Indicator Features
This indicator is 100% custom-built, not using code from any other existing NDOG plotting indicators. The purpose of this indicator was to overcome many shortcomings from other existing indicators. Therefore, this indicator has many UNIQUE features, such as:
Ability to maintain accuracy of the closing/opening prices even when changing chart settings (e.g., toggling ETH/RTH sessions, toggling BACK-ADJUSTMENT on futures contracts, toggling SETTLEMENT prices, etc.).
Draw up to 25 previous NDOGs, even on ultra-low timeframes like the 1-minute or 1-second chart.
Automatically or manually choose which NDOGs to hide/show on the chart.
Highly customizable, including a different color scheme to easily distinguish between the Current and Previous NDOGs.
Modified price values to correctly display prices that use a format like 109'32 (e.g., Bond Futures or Wheat Futures).
Helpful tooltips to provide more detailed information about the NDOGs or about the current Input Settings.
Error Messages
There are some conditions which can cause the script to fail and display an error message (by clicking the red exclamation mark next to the indicator.)
Error messages:
Use a Standard Chart Type : this will occur when using a non-standard chart such as Heikin Ashi, Renko, Point & Figure, etc.
Use a Daily or Lower Timeframe : this error will appear when using a higher timeframe chart like weekly or monthly, because it can clutter the chart since NDOGs can form every day.
NDOG was not detected : this means that no NDOG was found, for example if the chart did not have enough bars/candles (e.g., some Options markets).
Exceeded the maximum lookback for Bar Replay mode : when using bar replay mode; this can depend on the amount of historical bars available in different account subscription types.
Unable to Activate Bar Replay mode : if the indicator could not be used in Bar Replay mode.
Restart Bar Replay : if the indicator works in Bar Replay but it detected an error that would cause NDOGs to be plotted incorrectly.
NDOG was not detected. Toggle "Error Handling" Option at your own discretion : this is more of a warning message that will appear when the indicator does not detect any actual gap between the days (e.g., Forex markets where it is continuously traded through each day, without any gap forming in between). But the warning can be dismissed by toggling the checkbox at the bottom of the Indicator's Input Settings.
This is an example of what a script error would look like.
Indicator Settings
Most settings are self-explanatory or have a tooltip with information on what the setting does, so this section will only briefly cover the available settings.
The "Extend to End of Week" option is enabled by default, which will extend each NDOG only up to the end of the week that it belongs to. This option can be toggled OFF to automatically extend all NDOGs to the right-most candle on the chart.
Previous NDOGs: Between 1 and 25 previous NDOGs can be displayed. The checkbox can be toggled to quickly hide all previous NDOGs (but the same effect would be reached by setting the value to 0).
Hide Current NDOG: the current NDOG (colored in Green in the example above), can be optionally hidden from being plotted.
These settings are used to customize the visual style of the most recent NDOG (also known as the "Current" NDOG). Note: the exact same set of settings are available for the Previous NDOGs. The text next to each NDOG can be optionally hidden to clean the chart a little.
These are settings to customize the appearance of the Price Table on the right, including the ability to hide it completely.
One of 7 available overlap handling options can be used to filter which NDOGs are plotted on the chart. By default, the "None" option will be selected, meaning that all valid NDOGs are plotted on the chart.
Date Format : select the format of the date that is shown next to each NDOG.
Timezone : choose the timezone for the NDOG closing/opening date-times that are displayed (only in tooltips when you hover over an NDOG label).
NDOG Label : choose the details to display next to each NDOG (e.g., date, or NDOG number, or both).
Price Format : only two options: Auto/Decimal. "Auto" uses custom processing to allow displaying values such as 109'32 for Bond futures.
This option can be toggled to allow displaying NDOGs for markets that may not have an actual gap between days, such as Forex markets, or BTC/USD (which is traded 24/7). Note: this option must be used at your own discretion because the opening/closing times for the NDOGs are not guaranteed to be accurate.
Tooltips
The indicator provides additional details about an NDOG when you hover over a row in the Price Table.
Note: the same information can be found by hovering over the Text Label that is to the right of each NDOG.
Overlap Handling
The tooltip next to "Select a Strategy" in the options will provide details on each overlap handling strategy. Additionally, when a strategy is selected, a new row in the Price Table will appear; hovering over that will show details about the currently selected strategy, as well as any suggestions in case the inputs were invalid. When a strategy hides an NDOG, the number in the Price Table will be replaced with an "Eye" icon, indicating that it is not currently plotted on the chart.
Available strategies are:
Option 1 (Gradients) : select the percentage opacity to shade NDOGs in. The more recent NDOGs will be closer to the maximum opacity defined, while the older NDOGs will appear more transparent, closer to the minimum opacity defined. Note: only affects previous NDOGs, not the current NDOG.
Option 2 (Week Extension) : select the number of weeks to extend each NDOG up to. Note: this will override the "Extend to End of Week" setting, regardless whether it is toggled ON or OFF.
Option 3 (Nested Gaps) : hides nested gaps, i.e., NDOGs that are enclosed within another NDOG. Note: this option is only available when the "Extend to End of Week" setting is disabled .
Option 4 (Intersecting Gaps) : hides intersecting/overlapping gaps, i.e., NDOGs that overlap one another (this may also include, but is not limited to, nested gaps). The drop-down next to this option allows choosing the priority of which NDOGs to hide first. Note: this option is only available when the "Extend to End of Week" setting is disabled .
Option 5 (Gap Width) : the chart will only show NDOGs that have a width between the defined parameters. This can be useful to filter out NDOGs that are deemed "insignificant". For example, the Inner Circle Trader will generally filter out of his analysis any NDOGs that are less than a point (4 ticks) for Index futures.
Option 6 (Close Proximity) : the chart will only show the NDOGs that are within a certain range from the market price. This can be useful when plotting multiple NDOGs while using auto-scaling on the chart. By only showing nearby NDOGs, it will prevent the auto-scaling from having to compress the candles to fit the far-away NDOGs onto the screen.
Option 7 (CSV) : this option is used if none of the others suit you well; it allows specifically choosing which NDOGs to hide or show on the chart.
This is an example that chooses the Overlap Handling Strategy Option 6. Note that in this example, the tooltip in the price table shows a warning that the Input Number should be increased to plot some NDOGs on the chart.
Tips
Chart settings can be toggled to "Scale price chart only" to prevent the auto-scaling of TradingView from compressing the chart if there are NDOGs that are far away from the current market action.
If you change a lot of indicator settings such as NDOG color schemes, you can save the settings as the Default to prevent your settings from resetting the next time you use the indicator.
支撐和阻力
Double FVG-BPR [QuantVue]The Double FVG BPR Indicator is a versatile tool that helps traders identify potential support and resistance levels through the concept of balanced price ranges.
A Balanced Price Range (BPR) is a zone on a price chart where the market has found equilibrium after a period of price imbalance.
It is identified by detecting a Fair Value Gap (FVG) in one direction, followed by an overlapping Fair Value Gap in the opposite direction.
Components of a Balanced Price Range
Fair Value Gap (FVG): A FVG occurs when there is a rapid price movement, creating a gap in the price chart where minimal trading occurs. This gap represents an imbalance between supply and demand.
Bullish FVG: A bullish FVG is identified when the low of a candle is higher than the high of a candle two periods ago, and the close of the previous candle is higher than the high of that same period.
Bearish FVG: A bearish FVG is identified when the high of a candle is lower than the low of a candle two periods ago, and the close of the previous candle is lower than the low of that same period.
Overlapping Fair Value Gap: For a BPR to be formed, an initial FVG must be followed by an overlapping FVG in the opposite direction. This creates a balanced zone where the price has moved up (or down) quickly and then moved down (or up) with similar intensity, suggesting a temporary equilibrium.
The area between the high and low points of these overlapping FVGs forms the BPR. This zone represents a temporary market equilibrium where supply and demand have balanced out after a period of significant price movement in both directions.
How to Use
Support and Resistance Levels: The upper and lower boundaries of the BPR act as dynamic support and resistance levels. Traders can use these levels to place buy and sell orders, anticipating that the price may find support or face resistance within these zones.
Trend Reversal and Continuation: The BPR can signal potential trend reversals or continuations.
If the price moves back into the BPR after a breakout, it may indicate a reversal. Conversely, if the price breaks out of the BPR with strong momentum, it may signal a trend continuation.
Supports & Resistances [UAlgo]The "Supports & Resistances " indicator is designed to identify and visualize key support and resistance levels on the price chart. It utilizes the Average True Range (ATR) and Pivot Points to define the boundaries of S & R zones and considers historical price action to assess the strength of these zones.
🔶 How to Obtain Zones
The script continuously analyzes the price action and identifies potential support and resistance zones based on the following criteria:
Zone Creation: For swing highs, a zone is created with the high price at the zone length as the top and the top minus the Average True Range (ATR) as the bottom. Conversely, for swing lows, the zone is created with the low price at the zone length as the bottom and the low plus the ATR as the top.
Zone Strength Calculation: The script iterates through historical bars within the zone and counts how many times the price (low for support, high for resistance) touched but failed to break entirely through the zone. This count is assigned as the zone's "strength".
Zone Display and Removal: It identifying zones by assigning a "strength" value based on how many times the price has approached but failed to break the zone. This helps prioritize stronger potential support/resistance levels. Only zones exceeding the defined "strength threshold" are visually displayed on the chart. Weaker zones or those broken by price are automatically removed.
🔶 Parameters
Zone Length: Traders can adjust S & R detection sensitivity, length to be used to find pivot points.
Strength Threshold: Set the minimum number of times the price needs to touch but fail to break a zone for it to be considered "strong" and displayed.
Visual Settings: Tailor the appearance of the support/resistance zones by defining separate colors and text size for borders, backgrounds, and zone text.
🔶 Disclaimer
The "Supports & Resistances " indicator is provided for educational and informational purposes only.
It should not be considered as financial advice or a recommendation to buy or sell any financial instrument.
The use of this indicator involves inherent risks, and users should employ their own judgment and conduct their own research before making any trading decisions. Past performance is not indicative of future results.
🔷 Related Scripts
Support and Resistance with Signals
ATR Based Support and Resistance Zones
Fibonacci Period Range [UkutaLabs]█ OVERVIEW
The Fibonacci Period Range Indicator is a powerful trading tool that draws levels of support and resistance that are based on key Fibonacci levels. The script will identify the high and low of a range that is specified by the user, then draw several levels of support and resistance based on Fibonacci levels.
The script will also draw extension levels outside of the specified range that are also based on Fibonacci levels. These extension levels can be turned off in the indicator settings.
Each level is also labelled to help traders understand what each line represents. These labels can be turned off in the indicator settings.
The purpose of this script is to simplify the trading experience of users by giving them the ability to customize the time period that is identified, then draw levels of support and resistance that are based on the price action during this time.
█ USAGE
In the indicator settings, the user has access to a setting called Session Range. This gives users control over the range that will be used.
The script will then identify the high and low of the range that was specified and draw several levels of support and resistance based on Fibonacci levels between this range. The user can also choose to have extension levels that display more levels outside of the range.
These lines will extend until the end of the current trading day at 5:00 pm EST.
█ SETTINGS
Configuration
• Display Mode: Determines the number of days that will be displayed by the script.
• Show Labels: Determines whether or not identifying labels will be displayed on each line.
• Font Size: Determines the text size of labels.
• Label Position: Determines the justification of labels.
• Extension Levels: Determines whether or not extension levels will be drawn outside of the high and low of the specified range.
Session
• Session Range: Determines the time period that will be used for calculations.
• Timezone Offset (+/-): Determines how many hours the session should be offset by.
Supply and Demand StrategyOverview
This strategy is designed to identify key supply (resistance) and demand (support) zones on a price chart. These zones represent areas where the price has historically shown a significant reaction, either bouncing up from a demand zone or dropping down from a supply zone. The strategy provides clear entry and exit points for trades based on these zones.
Key Components
Supply and Demand Zones:
Supply Zone: An area where the price has reversed from an uptrend to a downtrend. It represents a high concentration of sellers.
Demand Zone: An area where the price has reversed from a downtrend to an uptrend. It represents a high concentration of buyers.
Time Frames:
Use higher time frames (like daily or weekly) to identify key supply and demand zones.
Use lower time frames (like 1-hour or 4-hour) to pinpoint precise entry and exit points within these zones.
Confirmation:
Use price action and candlestick patterns (like pin bars or engulfing patterns) to confirm potential reversals in these zones.
ICT Propulsion Block [LuxAlgo]The ICT Propulsion Block indicator is meant to detect and highlight propulsion blocks, which are specific price structures introduced by the Inner Circle Trader (ICT).
Propulsion Blocks are essentially blocks located where prices interact with preceding order blocks. Traders often utilize them when analyzing price movements to identify potential turning points and market behavior or areas of interest in the market.
🔶 USAGE
An order block is a significant area on a price chart where there was a notable accumulation or distribution of orders, often identified by a strong move in price followed by a consolidation or sideways movement. Traders use order blocks to identify potential support or resistance levels.
A Propulsion Block, on the other hand, is a concept taught by the Inner Circle Trader (ICT) and refers to a specific type of order block that interacts with the preceding order block. Traders often analyze propulsion blocks to identify potential turning points and areas of interest in the market.
A mitigated order block refers to an order block that has been invalidated or nullified due to subsequent market movements or developments. It no longer holds the same significance or relevance in the current market context.
Let's explore a bearish order block and propulsion block scenario commonly utilized by ICT traders in their trading strategies.
🔶 SETTINGS
🔹 Order & Propulsion Blocks
Swing Detection Length: Lookback period used to detect swing points for creating order blocks and/or propulsion blocks.
Mitigation Price: Allows users to choose between the closing price or the candle's wick for mitigation.
Highlight Propulsion Block Signals: Highlights the propulsion block and its sentiment for easier identification and analysis.
Remove Unassociated Order Blocks: Eliminate order blocks that are not associated with any propulsion block.
Remove Mitigated Blocks: Eliminates mitigated order blocks and propulsion blocks along with their associated order blocks, streamlining the visualization for clearer analysis.
Most Recent Blocks: Activates processing of the specified number of most recent blocks according to the option. If not enabled, the script defaults to processing the last 125 occurrences.
🔹 Order & Propulsion Blocks Style
Bullish Order & Propulsion Blocks: Toggles the visibility of bullish order and propulsion blocks, along with color customization options.
Bearish Order & Propulsion Blocks: Toggles the visibility of bearish order and propulsion blocks, along with color customization options.
Block Labels: Toggles the visibility of order and propulsion block labels, and label size customization option.
🔶 RELATED SCRIPTS
Order-Blocks-Breaker-Blocks .
Log Regression Channel [UAlgo]The "Log Regression Channel " channel is useful for analyzing price trends and volatility in a financial instrument over a specified period. By using logarithmic scaling, this indicator can more effectively handle the wide range of price movements seen in many financial markets, making it particularly valuable for assets with exponential growth characteristics.
The indicator plots the central regression line along with upper and lower deviation bands, providing a visual representation of potential support and resistance levels.
🔶 Key Features
Logarithmic Regression Line: The central line represents the logarithmic regression, which fits the price data over the specified length using a logarithmic scale. This helps in identifying the overall trend direction.
Deviation Bands: The upper and lower bands are plotted at a specified multiple of the standard deviation from the regression line, highlighting areas of potential overbought and oversold conditions.
Customizable Parameters: Users can adjust the length of the regression, the deviation multiplier, the color of the labels, and the size of the text labels to suit their preferences.
R-Squared Display: The R-squared value, which measures the goodness of fit of the regression model, is displayed on the chart. This helps traders assess the reliability of the regression line.
🔶 Calculations
The indicator performs several key calculations to plot the logarithmic regression channel:
Logarithmic Transformation: The prices and time indices are transformed using the natural logarithm to handle exponential growth in price data.
Regression Coefficients: The slope and intercept of the regression line are calculated using the least squares method on the transformed data.
Predicted Values: The regression equation is used to calculate predicted values for each data point.
Standard Deviation: The standard deviation of the residuals (differences between actual and predicted values) is computed to determine the width of the deviation bands.
Deviation Bands: Upper and lower bands are plotted at a specified multiple of the standard deviation above and below the regression line.
R-Squared Value: The R-squared value is calculated to measure how well the regression line fits the data. This value is displayed on the chart to inform the user of the model's reliability.
🔶 Disclaimer
The "Log Regression Channel " indicator is provided for educational and informational purposes only.
It is not intended as investment advice or a recommendation to buy or sell any financial instrument. Trading financial instruments involves substantial risk and may not be suitable for all investors.
Past performance is not indicative of future results. Users should conduct their own research.
Uptrick: Recent Support and Resistance LinesThe indicator titled "Uptrick: Recent Support and Resistance Lines" is a technical analysis tool designed for overlay on price charts. It aims to identify and visualize recent support and resistance levels based on pivot points within a specified range.
Key Features and Functionality:
Pivot Length Parameter:
The indicator allows the user to input a pivot length parameter, which defines the range over which the pivot points (highs and lows) are calculated. By default, this length is set to 50 bars.
Support and Resistance Calculation:
The indicator dynamically calculates the most recent support and resistance levels based on pivot points.
Pivot Highs and Lows:
A pivot high is defined as a price level where a bar's high is higher than the highs of the bars around it for a given number of bars defined by the pivot length.
A pivot low is the opposite, where a bar's low is lower than the lows of the surrounding bars within the same range.
Support Line:
When a new pivot low is identified, this becomes the new recent support level.
The indicator creates a horizontal line at this support level, starting from the bar where it was identified and extending to the current bar. This line is colored green and is drawn with a width of 2 pixels. If a support line already exists, it is deleted and replaced with the new line.
Resistance Line:
Similarly, when a new pivot high is detected, it updates the recent resistance level.
A horizontal line is drawn at this resistance level, starting from the bar where it was identified and extending to the current bar. This line is colored red and also drawn with a width of 2 pixels. As with the support line, any existing resistance line is deleted and replaced with the new one.
Visual Representation:
The support and resistance lines extend to the right, providing a clear visual guide on the chart. This helps traders identify key levels where price has previously found support or encountered resistance, which can be critical for making trading decisions.
Practical Application:
Trading Decisions:
Traders can use the visual cues from the support and resistance lines to make informed trading decisions. For instance, they might place buy orders near support levels and sell orders near resistance levels.
The dynamic nature of these lines helps in adapting to the most recent market conditions, ensuring that the levels are relevant to the current price action.
Trend Analysis:
The indicator can assist in analyzing the overall trend. In an uptrend, the support levels may progressively rise, while in a downtrend, resistance levels may drop.
This indicator is particularly useful for traders who rely on visual support and resistance levels to guide their trading strategies, providing a clear and automatic way to track these critical levels on their charts.
Fundur - Easy ZonesFundur Easy Zones Trading Indicator
The Fundur Easy Zones trading indicator is designed to simplify market analysis by visually marking critical trading zones. This tool helps traders identify optimal buy and sell areas based on historical price action, making it easier to make informed trading decisions.
Calculation Methodology
The Easy Zones indicator employs pivot point calculations combined with price action analysis and the Average True Range (ATR) to determine key trading zones. These zones are calculated by analyzing market volatility and price movements within each timeframe, allowing the identification of significant discount and premium levels.
Pivot Points: The indicator calculates pivot points based on the average of high, low, and close prices from previous periods. These pivot points serve as the foundational levels from which discount and premium zones are derived.
Price Action Analysis: Historical price data is scrutinized to identify patterns and behaviors that signify potential reversal points. This analysis helps in pinpointing zones where the market is likely to experience significant support (discount) or resistance (premium).
Average True Range (ATR): ATR is used to measure market volatility. By incorporating ATR into the calculations, the indicator adjusts the zone boundaries to reflect current market conditions, ensuring that the zones remain relevant and accurate. Higher ATR values indicate greater volatility and wider zones, while lower ATR values result in narrower zones.
Discount and Premium Levels: Based on the pivot points and ATR, the indicator calculates various tiers of discount and premium levels. These tiers (D1, D2, D3 for discounts and P1, P2, P3 for premiums) represent increasing levels of price deviation from the mean, providing traders with clear entry and exit points.
Features Overview
Zones Settings:
Zones History Length: Adjust the number of historical zones displayed on the chart to analyze past price behavior.
Levels Line Width: Customize the thickness of the zone lines for better visibility.
Structure Settings:
Show Fair Value: Display the fair value zone, providing a visual reference for equilibrium price levels. The fair value is calculated based on the median price over the selected period.
DP (Discount and Premium) Settings:
Enable Discount and Premium Levels: Activate the display of critical buy (discount) and sell (premium) zones. These zones are determined using price deviation analysis from the mean, identifying significant discount (support) and premium (resistance) levels.
Tiered Levels: Visualize up to three levels of discount and premium zones, each with specific target prices (TP1, TP2, TP3), representing different levels of price deviation significance.
Highlight Buy and Sell Zones:
Enable Background: Highlight the background of buy and sell zones for enhanced clarity.
Label Settings:
Enable All Labels: Ensure all labels are visible for quick reference.
Show Descriptive Title: Display titles for each zone, making it easier to understand the context.
Show Take Profit Targets (TP): Clearly mark take profit targets within each zone.
Show Price: Display price levels for each zone for precise entry and exit points.
Symbols Settings:
Fair Value, Premium, and Discount Indicators: Customize symbols to represent gaining or losing fair value, premium, and discount levels, enhancing visual cues for market sentiment.
How to Use the Easy Zones Indicator
Identifying Entry Points:
Use the Discount Zones to identify optimal buy areas. The levels (D1, D2, D3) represent increasing levels of discount, with D1 being the least discounted and D3 the most.
Place buy orders at or near these zones to take advantage of potential price reversals.
Identifying Exit Points:
Use the Premium Zones to identify optimal sell areas. The levels (P1, P2, P3) represent increasing levels of premium, with P1 being the least and P3 the highest.
Place sell orders at or near these zones to maximize profits on upward price movements.
Using Fair Value:
The Fair Value Zone provides a balanced price level where the market is likely to return. Use this as a reference point for setting realistic entry and exit targets.
Strategic Planning:
Combine Discount and Premium Zones with the Fair Value Zone to create a strategic trading plan.
Monitor the zones for price reactions and adjust your trading strategy accordingly.
Best Practices
Historical Analysis:
Regularly review historical price actions within the marked zones to understand market behavior.
Customization:
Adjust the settings to suit your trading style and market conditions. Experiment with different zone lengths and line widths for optimal clarity.
Risk Management:
Always use stop-loss orders in conjunction with the identified zones to manage risk effectively.
By integrating the Fundur Easy Zones indicator into your trading strategy, you can enhance your market analysis, make more informed decisions, and ultimately improve your trading performance.
ACD Indicator [TradingFinder] M Fisher Pivots Methodology Signal🔵 Introduction
The book "The Logical Trader" begins with a comprehensive review of the ACD Methodology principles, which include identifying specific price points related to the opening range.
This method allows you to set reference points for trading and use points "A" and "C" for trade entry. You will also learn about the "Pivot Range" and how to combine them with the ACD method to maximize position size and minimize risk.
In this indicator, the strategy is implemented to make it easier to use.
🔵 How to Use
The "ACD" strategy can be applied to various markets such as stocks, commodities, or forex, providing buy and sell signals that allow you to set your price targets and stop losses.
This strategy is based on the assumption that the opening range of trades is statistically significant each day, meaning the initial market fluctuations influence the market until the end of the day.
The ACD trading strategy is known as a breakout strategy and performs best in volatile or strongly trending markets, such as crude oil and stocks.
Some of the rules for using the ACD strategy include the following :
Consider points A and C as reference points and continuously pay attention to these points during trades. These points serve as entry and exit points for trades.
Examine daily and multi-day pivot ranges to analyze market trends. If the price is above the pivots, the trend is upward, and if below the pivots, the trend is downward.
Trading with the ACD strategy in forex is possible using the ACD indicator. This indicator is a technical tool used to measure the balance between supply and demand in the market. By analyzing trading volume and price, this indicator helps traders identify trend strength and suitable entry and exit points.
To use the ACD indicator, consider the following :
Identifying strong trends: The ACD indicator can help you identify strong and stable trends in the market.
Determining entry and exit points: ACD provides buy and sell signals to enter or exit trades at the best possible time.
Bullish Setup :
When the "A up" line is broken, it is advisable to wait for some time to ensure that this is not a "Fake Breakout" and that the price stabilizes above this line.
After entering the trade, the best stop loss you can choose is below the "A down" line. However, it is recommended to test this in backtests to achieve the best results. The suitable reward-to-risk ratio for this strategy is 1, which should also be backtested.
Bearish Setup :
When the "A down" line is broken, it is advisable to wait for some time to ensure that this is not a "Fake Breakout" and that the price stabilizes below this line.
After entering the trade, the best stop loss you can choose is above the "A up" line. However, it is recommended to test this in backtests to achieve the best results. The suitable reward-to-risk ratio for this strategy is 1, which should also be backtested.
🔵 Setting
NDay Pivot Range Period : Using this entry you can specify the number of days to calculate NDay Pivot Range.
Show Daily Pivot Range : Set the Daily Pivot color and displayed or not.
Show NDay Pivot Range : Set the NDay Pivot color and displayed or not.
ATR Period Levels : Determining the period of the ATR indicator, which is used to determine the A and C levels.
Show Tokyo ACD Setup : Set the Tokyo ACD Setup color and displayed or not.
Tokyo Opening Range Time : The amount of time taken to determine the opening range. You can set this number between 5 and 60 minutes.
Tokyo Session : Market start and end time.
A Level Multiplier : The coefficient that is multiplied by ATR to determine the distance of line A up and A down.
C Level Multiplier : The coefficient that is multiplied by ATR to determine the distance of line C up and C down.
The same settings exist for the London and New York sessions.
Dinapoli Objective Points (OPs)The DiNapoli Objective Points (OPs) is a drawing tool that computes potential exit targets to a market. It does so by drawing Fibonacci ABC Extensions which form Areas that might condition future market moves. This is a Leading Indicator created by Joe DiNapoli.
Let’s dive into what this tool does.
HOW TO READ THE DINAPOLI OPs
First, let’s review the basic concepts. In the chart below you’ll see a market Up Swing and a Down Swing. Both charts show a significant Retracement within the scope of a larger Swing, and therefore are suitable for this tool.
A Point : That’s the base Reaction Point. In up swings, it’s usually a significant pivot low, while in down swings it’s a pivot high.
B Point : That’s the Focus Point that will define the extent of the extensions. In up swings, it’s usually a significant pivot high, while in down swings it’s a pivot low.
C Point : That’s the Retracement Point from where the extensions will be drawn. The C Point is contained within the A-B Price Range, and often coincides with a Fibonacci Node.
On adding the tool to the chart, it will pop up a message asking the user to click for the 3 Points: A, B and C. Then, the tool will compute the Objective Points. Let’s review them:
COP : It’s the 61.8% Fibonacci Extension. It’s called COP as an acronym for Contracted Objective Point. It’s commonly used as an early Take Profit level or also as a point at which to enable a Trailing Stop Loss.
OP : It’s the 100% Fibonacci Extension. It’s called OP as an acronym for the main Objective Point. It’s usually used as a level where to Take Profit.
XOP : It’s the 161.8% Fibonacci Extension. It’s called XOP as an acronym for Extended Objective Point. It’s usually employed as a Take Profit target in which to close the position or significantly reduce the position weight.
By combining Objective Points with Dinapoli Levels, one can define Areas of Interest that might act as reinforced Support or Resistance levels. The Agreement Area happens where there’s a convergence between a Fibonacci Node and an Objective Point.
WHY WOULD YOU BE INTERESTED IN THIS INDICATOR?
This version of Dinapoli Levels has been designed to address the needs of dedicated traders. Let’s review its main features.
Combine Objective Points with D-Levels!
This tool allows you to quickly compute the Objective Points and display them in a minimalistic non-intrusive fashion.
The fact that the Objective Points get drawn on the right hand side of the chart combines perfectly with the Dinapoli Levels tools.
Keep your Chart Clean!
Disciplined traders keep their charts clean and visually appealing. One needs proper focus to trade in the zone.
Please check how the chart on the left looks compared to the one on the right. Both display exactly the same information. On the right it uses the DiNapoli Objective Points to print the Extensions, whilst on the right it uses the standard Fibonacci Extension tool.
The DiNapoli Objective Points use a view concentrated into the empty right side of the chart, which contributes to a more comprehensive display of information. There are no lines crossing over the price candles. It’s just a better tool. It keeps your charts free of messy lines.
EACH MARKET IN ITS OWN CHART
This tool somehow enhances the functionality of a Fibonacci Extension Drawing Tool. Being in nature a drawing tool, it has been developed as an indicator because that’s the only way it can be done at the present moment in this platform.
Therefore it’s recommended to structure Each Market in its Own Chart . Being coded as an indicator, this tool benefits by displaying over a chart dedicated to a single market.
If you trade on multiple markets, then it’s convenient to set up separate charts for each one. Otherwise, you would need to apply, delete and reapply the tool every time you shift markets.
SETTINGS
Now let’s dive into the settings of this indicator.
ABC Points : This section contains the ABC price points selected and its label visualization controls.
A-Point, B-Point and C-Point : These fields contain the prices that were selected when clicking on the chart. One can change their value by hand, and the indicator will do its best to accommodate the drawing.
Highlight ABC Points : This conditions whether the A-B-C labels should display on screen.
Back Color : Select the color that will be used to highlight the A-B-C labels.
Text Color : Select the color that will be used to print the characters in the A-B-C labels.
Levels : This section allows you to customize the look of the Dinapoli Objective Points.
Enable/Disable Level : Each Level (COP, OP and XOP) can be enabled or disabled.
Level Color : Select the line color for that specific level. Please beware that the default color is 100% transparent. You might need to change the transparency setting in the color picker for the color you’ve selected to appear.
Id : Shows the label identifying the Objective Point.
Price : Shows the price value of the Objective Point.
Offset : Determines how far to the right will the group of DiNapoli Objective Points be located.
Width : Sets the width of the horizontal lines that represent the Objective Points.
Thickness : Sets the line thickness of the lines.
Dinapoli Levels (5 Reaction Points)The Dinapoli Levels is a drawing tool that adds context to the Location in which a market is trading. It does so by drawing Fibonacci Nodes which form Confluence Areas and Agreement Areas that might condition future market moves. This is a Leading Indicator created by Joe DiNapoli.
This version enables you to draw a series of 5 Sets of Fibonacci Nodes in one go . Therefore, you will make use of this tool whenever you find a market swing with 5 clear Reaction Points.
All these terms will be clarified on the sections down below. Next, you’ll learn how to read this tool.
HOW TO READ THE DINAPOLI LEVELS
Firstly, let’s tackle the basic concepts. In the chart below you’ll see both a market Up Swing and a Down Swing. They both show 5 significant Reaction points, and therefore are suitable for this tool.
Here’s a Line Chart to highlight its specific points of interest.
Reaction Points : They are the succession of reversal price points that happen within a market swing. In the case of an up swing, they are the higher lows that stand out. And in down swings, they are the lower highs that stand out.
Focus Point : The Focus Point is the most extreme Price Point of the swing. In the case of an up swing, it’s the extreme high. In a down swing it’s the extreme low.
To use this tool effectively, it needs to be drawn over a market swing that has at least 5 Distinct Reaction Points .
On adding the tool to the chart, it will pop up a message asking the user to click 5 Reaction Points. For proper display, one would select the reaction points from the bottom up in an up swing, and for a down swing they would be selected in descending order.
The final point to be selected is the Focus Point. Then, it’ll display a Fibonacci tree-like structure containing multiple Fibonacci Nodes.
But first, let’s display a simple Fibonacci Node to define its component parts.
Here’s the meaning for each Fibonacci Node:
F3 : It’s the 38.2% Fibonacci Retracement Node. It’s called F3 because originally Fibonacci Nodes were expressed in fractional format. In this case, it’s the 3 /8 Node.
F4 : It’s the 50% Fibonacci Retracement Node. It’s called F4 because its fractional expression is 4 /8 Node.
F5 : It’s the 61.8% Fibonacci Retracement Node. It’s called F5 because its fractional expression is 5 /8 Node.
F8 : It’s the 100% Fibonacci Retracement Node. It’s called F8 because its fractional expression is 8 /8 Node.
By combining close Fibonacci Nodes, one can define Areas of Interest that might act as Support or Resistance, and that might be employed in a wide variety of setups to define entries, take profit levels and stop-loss price levels .
Here are the main Areas to be identified:
Confluence : It’s a price range in which there’s convergence between an F3 Node and an F5 Node.
Agreement : It’s the convergence between a Fibonacci Node and a Fibonacci Expansion level, also called Objective Point.
WHY WOULD YOU BE INTERESTED IN THIS INDICATOR?
This version of Dinapoli Levels has been designed to address the needs of dedicated traders. Let’s review its main features.
Display 5 sets of Fibonacci Levels in One Go!
This tool excels on consolidated trends because it allows the user to plot 5 sets of Fibonacci Levels at once. That happens to be really useful when focusing on the longer term view. It clearly identifies where the market is trading with regards to key Confluence and Agreement areas.
Keep your Chart Clean!
Disciplined traders keep their charts clean. One needs proper focus to trade in the zone.
Please check how the chart on the left looks compared to the one on the right. Both display exactly the same information. On the right it uses the DiNapoli Levels to print 5 sets of Fibonacci Nodes, whilst on the right it uses the standard Fibonacci Retracement.
The DiNapoli Levels use a tree-like view which contributes to a more minimalistic and comprehensive display of information. Moreover, placing the Fibonacci Nodes to the right of the price candles enhances its visibility. There are no lines crossing over the price candles. It’s just a better tool. It keeps your charts free of messy lines.
EACH MARKET IN ITS OWN CHART
This tool somehow enhances the functionality of a Fibonacci Retracement Drawing Tool. Being in nature a drawing tool, it has been developed as an indicator because that’s the only way it can be done at the present moment in this platform.
Therefore it’s recommended to structure Each Market in its Own Chart . Being coded as an indicator, this tool benefits by displaying over a chart dedicated to a single market.
If you trade on multiple markets, then it’s convenient to set up separate charts for each one. Otherwise, you would need to apply, delete and reapply the tool every time you shift markets.
SETTINGS
Now let’s dive into the settings of this indicator.
Focus and Reaction Points : This section contains the price points selected for each Reaction Point and the Focus Point. One is able to modify their values through here. If so, the indicator will redraw the Levels to match the updated price point.
Confluences : This section allows you to customize how the indicator will display Confluence Areas.
Highlight Confluences : Switch on/off the Highlight of the Confluence Levels.
Confluence Color : Select the color that will be used to highlight the confluence levels.
Confluence Area (%) : It defines how wide could be the range in which to search for confluences.
Increase Thickness : It defines how much thicker the Confluence Levels. To keep them as thick as the normal levels simply turn it to 0 (zero).
1st to 5th Levels : Each of these sections allows you to customize the look of each Group of Dinapoli Levels.
Enable/Disable Level : Each Level (F3, F4, F5 and F8) can be enabled or disabled.
Level Color : Select the line color for that specific level.
Id : Shows the label identifying the Level.
Price : Shows the price value of the Level.
Offset : Determines how far to the right will the group of DiNapoli Levels be located.
Width : Sets the width of the horizontal lines that represent the Levels.
Thickness : Sets the line thickness of the lines.
Dinapoli Levels (4 Reaction Points)The Dinapoli Levels is a drawing tool that adds context to the Location in which a market is trading. It does so by drawing Fibonacci Nodes which form Confluence Areas and Agreement Areas that might condition future market moves. This is a Leading Indicator created by Joe DiNapoli.
This version enables you to draw a series of 4 Sets of Fibonacci Nodes in one go . Therefore, you will make use of this tool whenever you find a market swing with 4 clear Reaction Points.
All these terms will be clarified on the sections down below. Next, you’ll learn how to read this tool.
HOW TO READ THE DINAPOLI LEVELS
Firstly, let’s tackle the basic concepts. In the chart below you’ll see both a market Up Swing and a Down Swing. They both show 4 significant Reaction points, and therefore are suitable for this tool.
Here’s a Line Chart to highlight its specific points of interest.
Reaction Points : They are the succession of reversal price points that happen within a market swing. In the case of an up swing, they are the higher lows that stand out. And in down swings, they are the lower highs that stand out.
Focus Point : The Focus Point is the most extreme Price Point of the swing. In the case of an up swing, it’s the extreme high. In a down swing it’s the extreme low.
To use this tool effectively, it needs to be drawn over a market swing that has at least 4 Distinct Reaction Points .
On adding the tool to the chart, it will pop up a message asking the user to click 4 Reaction Points. For proper display, one would select the reaction points from the bottom up in an up swing, and for a down swing they would be selected in descending order.
The final point to be selected is the Focus Point. Then, it’ll display a Fibonacci tree-like structure containing multiple Fibonacci Nodes.
But first, let’s display a simple Fibonacci Node to define its component parts.
Here’s the meaning for each Fibonacci Node:
F3 : It’s the 38.2% Fibonacci Retracement Node. It’s called F3 because originally Fibonacci Nodes were expressed in fractional format. In this case, it’s the 3 /8 Node.
F4 : It’s the 50% Fibonacci Retracement Node. It’s called F4 because its fractional expression is 4 /8 Node.
F5 : It’s the 61.8% Fibonacci Retracement Node. It’s called F5 because its fractional expression is 5 /8 Node.
F8 : It’s the 100% Fibonacci Retracement Node. It’s called F8 because its fractional expression is 8 /8 Node.
By combining close Fibonacci Nodes, one can define Areas of Interest that might act as Support or Resistance, and that might be employed in a wide variety of setups to define entries, take profit levels and stop-loss price levels .
Here are the main Areas to be identified:
Confluence : It’s a price range in which there’s convergence between an F3 Node and an F5 Node.
Agreement : It’s the convergence between a Fibonacci Node and a Fibonacci Expansion level, also called Objective Point.
WHY WOULD YOU BE INTERESTED IN THIS INDICATOR?
This version of Dinapoli Levels has been designed to address the needs of dedicated traders. Let’s review its main features.
Display 4 sets of Fibonacci Levels in One Go!
This tool excels on consolidated trends because it allows the user to plot 4 sets of Fibonacci Levels at once. That happens to be really useful when focusing on the longer term view. It clearly identifies where the market is trading with regards to key Confluence and Agreement areas.
Keep your Chart Clean!
Disciplined traders keep their charts clean. One needs proper focus to trade in the zone.
Please check how the chart on the left looks compared to the one on the right. Both display exactly the same information. On the right it uses the DiNapoli Levels to print 4 sets of Fibonacci Nodes, whilst on the right it uses the standard Fibonacci Retracement.
The DiNapoli Levels use a tree-like view which contributes to a more minimalistic and comprehensive display of information. Moreover, placing the Fibonacci Nodes to the right of the price candles enhances its visibility. There are no lines crossing over the price candles. It’s just a better tool. It keeps your charts free of messy lines.
EACH MARKET IN ITS OWN CHART
This tool somehow enhances the functionality of a Fibonacci Retracement Drawing Tool. Being in nature a drawing tool, it has been developed as an indicator because that’s the only way it can be done at the present moment in this platform.
Therefore it’s recommended to structure Each Market in its Own Chart . Being coded as an indicator, this tool benefits by displaying over a chart dedicated to a single market.
If you trade on multiple markets, then it’s convenient to set up separate charts for each one. Otherwise, you would need to apply, delete and reapply the tool every time you shift markets.
SETTINGS
Now let’s dive into the settings of this indicator.
Focus and Reaction Points : This section contains the price points selected for each Reaction Point and the Focus Point. One is able to modify their values through here. If so, the indicator will redraw the Levels to match the updated price point.
Confluences : This section allows you to customize how the indicator will display Confluence Areas.
Highlight Confluences : Switch on/off the Highlight of the Confluence Levels.
Confluence Color : Select the color that will be used to highlight the confluence levels.
Confluence Area (%) : It defines how wide could be the range in which to search for confluences.
Increase Thickness : It defines how much thicker the Confluence Levels. To keep them as thick as the normal levels simply turn it to 0 (zero).
1st to 5th Levels : Each of these sections allows you to customize the look of each Group of Dinapoli Levels.
Enable/Disable Level : Each Level (F3, F4, F5 and F8) can be enabled or disabled.
Level Color : Select the line color for that specific level.
Id : Shows the label identifying the Level.
Price : Shows the price value of the Level.
Offset : Determines how far to the right will the group of DiNapoli Levels be located.
Width : Sets the width of the horizontal lines that represent the Levels.
Thickness : Sets the line thickness of the lines.
Dinapoli Levels (3 Reaction Points)The Dinapoli Levels is a drawing tool that adds context to the Location in which a market is trading. It does so by drawing Fibonacci Nodes which form Confluence Areas and Agreement Areas that might condition future market moves. This is a Leading Indicator created by Joe DiNapoli.
This version enables you to draw a series of 3 Sets of Fibonacci Nodes in one go . Therefore, you will make use of this tool whenever you find a market swing with 3 clear Reaction Points.
All these terms will be clarified on the sections down below. Next, you’ll learn how to read this tool.
HOW TO READ THE DINAPOLI LEVELS
Firstly, let’s tackle the basic concepts. In the chart below you’ll see both a market Up Swing and a Down Swing. They both show 3 significant Reaction points, and therefore are suitable for this tool.
Here’s a Line Chart to highlight its specific points of interest.
Reaction Points : They are the succession of reversal price points that happen within a market swing. In the case of an up swing, they are the higher lows that stand out. And in down swings, they are the lower highs that stand out.
Focus Point : The Focus Point is the most extreme Price Point of the swing. In the case of an up swing, it’s the extreme high. In a down swing it’s the extreme low.
To use this tool effectively, it needs to be drawn over a market swing that has at least 3 Distinct Reaction Points .
On adding the tool to the chart, it will pop up a message asking the user to click 3 Reaction Points. For proper display, one would select the reaction points from the bottom up in an up swing, and for a down swing they would be selected in descending order.
The final point to be selected is the Focus Point. Then, it’ll display a Fibonacci tree-like structure containing multiple Fibonacci Nodes.
But first, let’s display a simple Fibonacci Node to define its component parts.
Here’s the meaning for each Fibonacci Node:
F3 : It’s the 38.2% Fibonacci Retracement Node. It’s called F3 because originally Fibonacci Nodes were expressed in fractional format. In this case, it’s the 3 /8 Node.
F4 : It’s the 50% Fibonacci Retracement Node. It’s called F4 because its fractional expression is 4 /8 Node.
F5 : It’s the 61.8% Fibonacci Retracement Node. It’s called F5 because its fractional expression is 5 /8 Node.
F8 : It’s the 100% Fibonacci Retracement Node. It’s called F8 because its fractional expression is 8 /8 Node.
By combining close Fibonacci Nodes, one can define Areas of Interest that might act as Support or Resistance, and that might be employed in a wide variety of setups to define entries, take profit levels and stop-loss price levels .
Here are the main Areas to be identified:
Confluence : It’s a price range in which there’s convergence between an F3 Node and an F5 Node.
Agreement : It’s the convergence between a Fibonacci Node and a Fibonacci Expansion level, also called Objective Point.
WHY WOULD YOU BE INTERESTED IN THIS INDICATOR?
This version of Dinapoli Levels has been designed to address the needs of dedicated traders. Let’s review its main features.
Display 3 sets of Fibonacci Levels in One Go!
This tool excels on consolidated trends because it allows the user to plot 3 sets of Fibonacci Levels at once. That happens to be really useful when focusing on the longer term view. It clearly identifies where the market is trading with regards to key Confluence and Agreement areas.
Keep your Chart Clean!
Disciplined traders keep their charts clean. One needs proper focus to trade in the zone.
Please check how the chart on the left looks compared to the one on the right. Both display exactly the same information. On the right it uses the DiNapoli Levels to print 3 sets of Fibonacci Nodes, whilst on the right it uses the standard Fibonacci Retracement.
The DiNapoli Levels use a tree-like view which contributes to a more minimalistic and comprehensive display of information. Moreover, placing the Fibonacci Nodes to the right of the price candles enhances its visibility. There are no lines crossing over the price candles. It’s just a better tool. It keeps your charts free of messy lines.
EACH MARKET IN ITS OWN CHART
This tool somehow enhances the functionality of a Fibonacci Retracement Drawing Tool. Being in nature a drawing tool, it has been developed as an indicator because that’s the only way it can be done at the present moment in this platform.
Therefore it’s recommended to structure Each Market in its Own Chart . Being coded as an indicator, this tool benefits by displaying over a chart dedicated to a single market.
If you trade on multiple markets, then it’s convenient to set up separate charts for each one. Otherwise, you would need to apply, delete and reapply the tool every time you shift markets.
SETTINGS
Now let’s dive into the settings of this indicator.
Focus and Reaction Points : This section contains the price points selected for each Reaction Point and the Focus Point. One is able to modify their values through here. If so, the indicator will redraw the Levels to match the updated price point.
Confluences : This section allows you to customize how the indicator will display Confluence Areas.
Highlight Confluences : Switch on/off the Highlight of the Confluence Levels.
Confluence Color : Select the color that will be used to highlight the confluence levels.
Confluence Area (%) : It defines how wide could be the range in which to search for confluences.
Increase Thickness : It defines how much thicker the Confluence Levels. To keep them as thick as the normal levels simply turn it to 0 (zero).
1st to 5th Levels : Each of these sections allows you to customize the look of each Group of Dinapoli Levels.
Enable/Disable Level : Each Level (F3, F4, F5 and F8) can be enabled or disabled.
Level Color : Select the line color for that specific level.
Id : Shows the label identifying the Level.
Price : Shows the price value of the Level.
Offset : Determines how far to the right will the group of DiNapoli Levels be located.
Width : Sets the width of the horizontal lines that represent the Levels.
Thickness : Sets the line thickness of the lines.
Dinapoli Levels (2 Reaction Points)The Dinapoli Levels is a drawing tool that adds context to the Location in which a market is trading. It does so by drawing Fibonacci Nodes which form Confluence Areas and Agreement Areas that might condition future market moves. This is a Leading Indicator created by Joe DiNapoli.
This version enables you to draw a series of 2 Sets of Fibonacci Nodes in one go . Therefore, you will make use of this tool whenever you find a market swing with 2 clear Reaction Points.
All these terms will be clarified on the sections down below. Next, you’ll learn how to read this tool.
HOW TO READ THE DINAPOLI LEVELS
Firstly, let’s tackle the basic concepts. In the chart below you’ll see both a market Up Swing and a Down Swing. They both show 2 significant Reaction points, and therefore are suitable for this tool.
Here’s a Line Chart to highlight its specific points of interest.
Reaction Points : They are the succession of reversal price points that happen within a market swing. In the case of an up swing, they are the higher lows that stand out. And in down swings, they are the lower highs that stand out.
Focus Point : The Focus Point is the most extreme Price Point of the swing. In the case of an up swing, it’s the extreme high. In a down swing it’s the extreme low.
To use this tool effectively, it needs to be drawn over a market swing that has at least 2 Distinct Reaction Points .
On adding the tool to the chart, it will pop up a message asking the user to click 2 Reaction Points. For proper display, one would select the reaction points from the bottom up in an up swing, and for a down swing they would be selected in descending order.
The final point to be selected is the Focus Point. Then, it’ll display a Fibonacci tree-like structure containing multiple Fibonacci Nodes.
But first, let’s display a simple Fibonacci Node to define its component parts.
Here’s the meaning for each Fibonacci Node:
F3 : It’s the 38.2% Fibonacci Retracement Node. It’s called F3 because originally Fibonacci Nodes were expressed in fractional format. In this case, it’s the 3 /8 Node.
F4 : It’s the 50% Fibonacci Retracement Node. It’s called F4 because its fractional expression is 4 /8 Node.
F5 : It’s the 61.8% Fibonacci Retracement Node. It’s called F5 because its fractional expression is 5 /8 Node.
F8 : It’s the 100% Fibonacci Retracement Node. It’s called F8 because its fractional expression is 8 /8 Node.
By combining close Fibonacci Nodes, one can define Areas of Interest that might act as Support or Resistance, and that might be employed in a wide variety of setups to define entries, take profit levels and stop-loss price levels .
Here are the main Areas to be identified:
Confluence : It’s a price range in which there’s convergence between an F3 Node and an F5 Node.
Agreement : It’s the convergence between a Fibonacci Node and a Fibonacci Expansion level, also called Objective Point.
WHY WOULD YOU BE INTERESTED IN THIS INDICATOR?
This version of Dinapoli Levels has been designed to address the needs of dedicated traders. Let’s review its main features.
Display 2 sets of Fibonacci Levels in One Go!
This tool excels on consolidated trends because it allows the user to plot 2 sets of Fibonacci Levels at once. That happens to be really useful when focusing on the longer term view. It clearly identifies where the market is trading with regards to key Confluence and Agreement areas.
Keep your Chart Clean!
Disciplined traders keep their charts clean. One needs proper focus to trade in the zone.
Please check how the chart on the left looks compared to the one on the right. Both display exactly the same information. On the right it uses the DiNapoli Levels to print 2 sets of Fibonacci Nodes, whilst on the right it uses the standard Fibonacci Retracement.
The DiNapoli Levels use a tree-like view which contributes to a more minimalistic and comprehensive display of information. Moreover, placing the Fibonacci Nodes to the right of the price candles enhances its visibility. There are no lines crossing over the price candles. It’s just a better tool. It keeps your charts free of messy lines.
EACH MARKET IN ITS OWN CHART
This tool somehow enhances the functionality of a Fibonacci Retracement Drawing Tool. Being in nature a drawing tool, it has been developed as an indicator because that’s the only way it can be done at the present moment in this platform.
Therefore it’s recommended to structure Each Market in its Own Chart . Being coded as an indicator, this tool benefits by displaying over a chart dedicated to a single market.
If you trade on multiple markets, then it’s convenient to set up separate charts for each one. Otherwise, you would need to apply, delete and reapply the tool every time you shift markets.
SETTINGS
Now let’s dive into the settings of this indicator.
Focus and Reaction Points : This section contains the price points selected for each Reaction Point and the Focus Point. One is able to modify their values through here. If so, the indicator will redraw the Levels to match the updated price point.
Confluences : This section allows you to customize how the indicator will display Confluence Areas.
Highlight Confluences : Switch on/off the Highlight of the Confluence Levels.
Confluence Color : Select the color that will be used to highlight the confluence levels.
Confluence Area (%) : It defines how wide could be the range in which to search for confluences.
Increase Thickness : It defines how much thicker the Confluence Levels. To keep them as thick as the normal levels simply turn it to 0 (zero).
1st to 5th Levels : Each of these sections allows you to customize the look of each Group of Dinapoli Levels.
Enable/Disable Level : Each Level (F3, F4, F5 and F8) can be enabled or disabled.
Level Color : Select the line color for that specific level.
Id : Shows the label identifying the Level.
Price : Shows the price value of the Level.
Offset : Determines how far to the right will the group of DiNapoli Levels be located.
Width : Sets the width of the horizontal lines that represent the Levels.
Thickness : Sets the line thickness of the lines.
Market Structure Targets Model [LuxAlgo]The Market Structure Targets Model indicator provides an algorithmic approach to setting targets from market structure shifts (MSS) and market structure breaks (MSB), two popular Smart Money Concept (SMC) concepts. Depending on the target % settings, they can be used as take profit, confirmation levels, or potential reversal points.
🔶 USAGE
Our Market Structure Targets Model scripts provide automated and customizable targets from MSS and MSB. Each displayed target can be used in several ways described in the sub-sections below:
🔹 Take Profit
The targets can be used as take profit levels, where the target distance can be set separately for bullish/bearish MSS/MSB respectively.
🔹 Confirmation Levels
Alternatively, targets can be used as an additional confirmation level of a trend reversal when set at a lower percentage, filtering out fake signals that might be given from market structures. In this way, targets can be used as potential entry levels.
🔹 Potential Reversal Points
In some circumstances, targets being reached can be indicative of trend reversals. The percentage of the targets would be typically set higher to allow for trend exhaustion.
The above examples highlight this usage for bearish reversal scenarios, while the image below highlights it for bullish reversal scenarios.
🔹 Support/Resistance Levels
The targets, being horizontal levels, can also serve as potential support/resistances, with breakouts potentially confirming new trends. It is important to remain observant of the market structure. An MSS or MSB in the opposite direction provides essential information to be included in future decisions.
Using multiple timeframes can help detect longer-term trends. Depending on the user's preference, they can choose the appropriate timeframe for their needs.
Note that Target lines will only be drawn when the Target Level exceeds the close value when it is drawn.
🔹 Maximum Target Duration
The Maximum Target Duration setting removes unreached target levels when the amount of bars since the associated market structure of that target exceeds the user set limit. This effectively allows the removal of any target that might no longer be relevant to newer trends.
🔹 Type: Switch/Hold
This setting is another way to control unreached target levels.
Switch: When a new MSS/MSB is found, the previous target level associated with a market structure with the same direction (bullish/bearish) is deleted if it hasn't been reached.
Hold: Target levels are retained and continuously evaluated when a new MSS/MSB is formed.
The target level will be removed in both cases when the Maximum Target Duration condition is applied.
The above example shows the case when the Type setting is set to Switch , while in the example below, it is set to Hold .
🔶 DETAILS
🔹 Market Structure
Market structures are commonly classified as follows:
Market Structure Shift (MSS), also referred to as Change of Character (CHoCH)
Market Structure Break (MSB), also referred to as Break of Structure (BOS)
MSS indicates a shift in the market trend, confirming trend reversals. Conversely, MSB occurs once a trend is already determined, confirming new higher highs/lower lows.
🔹 Targets
A: Highest/lowest between the extremities of the MSS/MSB line
B: Price value of the MSS/MSB line
The distance between A and B is projected on the opposite side of the MSS/MSB line, adjusted with a percentage that can be set by the user. The above example used 100% of the distance between A and B.
The Target Percentage of MSS and MSB can be set separately for bullish or bearish market structures.
🔶 SETTINGS
Swings: Period used for the swing detection, with higher values returning longer-term Swing Levels.
Type: the Switch/Hold setting controls unattained target levels
Maximum Target Duration: removes the target lines when the amount of bars since the drawing of the target exceeds the limit and the target has not been reached
🔹 Market Structure Shift (MSS)
Bullish: Toggle, color setting, % Target
Bearish: Toggle, color setting, % Target
🔹 Market Structure Break (MSB)
Bullish: Toggle, color setting, % Target
Bearish: Toggle, color setting, % Target
Fibonacci Average Range [UkutaLabs]█ OVERVIEW
The Fibonacci Average Range indicator provides unique insight into key price-action levels within the market that can serve as powerful support and resistance levels. The Fibonacci Average Range is automatically generated purely from price-action; simplifying the decision-making process because price-action focuses on the most critical factor, price.
Through the use of its Fibonacci retracement levels, traders will be able to more accurately predict future direction and price movement of any given commodity.
The Fibonacci Average Range indicator is a powerful trading tool that provides unique insight into the market that can provide value to a wide variety of trading styles.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
At the beginning of each trading day, the script will use relevant price-action information to calculate an expected range for the current trading day, giving traders unique insight into potential levels of support and resistance within the market.
Depending on current market conditions, the script will either generate from the current day’s high or the current day’s low, depending on whether the market shows bullish or bearish strength.
Within the total projected range, several other levels will be identified and labelled. These levels combine the script’s prediction for the day’s range and key Fibonacci Ratios to identify potentially powerful levels of support and resistance within.
Each line also has a label to identify what it represents, and these labels can be turned off in the settings.
█ SETTINGS
Configuration
• Show Labels: Determines whether labels get drawn.
• Current Day Open: Determines whether a line representing the current day’s open is drawn.
• Display Mode: Determines the number of days the script will load.
Line Settings
• Line Width: Determines the width of lines.
• Line Style: Determines the style of lines.
Support and Resistance (High Volume Boxes) [ChartPrime]Support and Resistance (High Volume Boxes)
◆ Overview:
The "Support and Resistance" indicator identifies key support and resistance levels using pivot points and volume analysis. It visually represents these levels with dynamically colored boxes, indicating the strength of the volume. This helps traders recognize potential price reversals and key zones for buy and sell opportunities.
◆ Key Features:
Dynamic Support and Resistance Boxes:
The indicator plots support and resistance boxes based on pivot points and volume above threshold for positive volume boxes and below lower threshold for negative volume boxes.
Box colors change from transparent to more intense based on volume, reflecting the strength of support or resistance.
Boxes expands until a new box of the same type appears.
Volume-Based Color Coding:
Boxes are color-coded based on the amount of volume:
Green boxes indicate support levels with positive volume.
Red boxes indicate resistance levels with negative volume.
Hold Signals:
Green diamonds (◆) indicate when support holds, signaling potential buy opportunities.
Red diamonds (◆) indicate when resistance holds, signaling potential sell opportunities.
Breakout Labels:
If the price falls below a support level, that level will become resistance. If the price rises above a resistance level, it will often become support. As the price moves past a level of support or resistance, it is thought that supply and demand has shifted, causing the breached level to reverse its role.
Labels "Break Sup" and "Break Res" are displayed when support or resistance levels are broken, indicating significant market movements.
◆ Break Resistance:
◆Break Support:
◆ Usage Notes:
This indicator helps traders identify strong support and resistance levels, offering visual cues for potential price reversals.
By analyzing volume at these levels, traders can gauge the strength of these zones and make more informed trading decisions.
◆ Settings:
Lookback Period: The number of bars to look back for pivot points.
Delta Volume Filter Length: The length of the volume filter for more accurate volume analysis. (Higher input, will filter low volume boxes)
Adjust Box Width: Adjusts the width of the support and resistance boxes.
This indicator is designed to enhance your trading by providing clear visual cues for support and resistance levels based on volume, making it easier to spot potential price reversals and key trading opportunities.
TrendzonesHi all!
This indicator plots trendlines. These lines are not plotted as traditional lines, but are instead zones. This is useful if you think that trend lines are more of an area of importance than a line.
It does so by finding pivots and connecting two of them if they have not been broken (more about that later) in-between the pivots.
These trend zones can be used as support/resistance that the price can react to.
• The first trendline is drawn between the high/low of the first and second pivot.
• The second trendline's first point is at the open/close of the pivot (either the first pivot or the second one) that has the smallest difference between the high/low and the nearest open/close. The same difference (between the high/low and the open/close) is then subtracted from the other pivot's high/low. This creates a point at the other pivot bar. A trendline is then drawn between the points.
This creates two trendlines and a zone between the two trendlines. This zone is the one kept and is shown by the script.
You can define the pivot lengths used to find trend zones (defaults to 3/3). You can also define the number of pivots to look back for, to find trend zones and the number of active zones, both of these defaults to 3. You can also choose to let the script create new zones based on time ("Oldest") or the zone that is furthest away in price, this defaults to be based on time but it can be useful for letting the script remove the one which is furthest away in price. Another useful setting is the one called "Cross source". This defines the price that has to cross the trend zone to make it invalid (broken). This defaults to "Close", i.e. the bar has to close on the "wrong side" of the trend zone.
The current zones are shown with an extension to the right, but you can also choose to keep the previous lines (without extension). Please note that kept zones are only the ones that are broken, not the replaced ones. I.e. the zones that are kept are the ones that are crossed by the user defined "cross source" (defaults to the closing/current price of the bar).
Hope this makes sense, let me know if you have any questions.
Best of trading luck!
Unlocking the Power of Long Candle MidpointI'm excited to share with you a fascinating concept that can help you identify potential breakout points in the market.
The Pine Script code provided below is designed to identify the midpoint of a long candle, which can be a crucial level for traders to watch.
In this blog post, we'll dive deeper into the concept, explore its applications, and analyze a real-life example of TATACHEM listed on NSE, which is currently trading around a potential psychology line.
What is the Long Candle Midpoint?
The long candle midpoint is a technical indicator that calculates the midpoint of a candlestick that has a significant price movement. This midpoint is then used to draw a horizontal line, which can serve as a potential support or resistance level. The idea is that if a candlestick has a large price movement, it's likely that the market will react to this movement by testing the midpoint of the candle.
How Does the Long Candle Midpoint Indicator Work?
The Pine Script code provided above is designed to calculate the midpoint of a long candle based on the following parameters:
Length: The length of the candlestick is calculated using the len input parameter.
Line Length: The length of the line is calculated using the linExt input parameter.
Calculation Method: The calculation method can be set to either "Highest True Range", "Average True Range", or "Both".
Multiplier: The multiplier is used to adjust the midpoint calculation based on the average range of the candlestick.
The script then plots a horizontal line at the midpoint of the long candle, which can be used as a potential support or resistance level.
Real-Life Example:
Let's take a look at TATACHEM, a stock listed on the National Stock Exchange of India (NSE). As you can see in the chart below,
TATACHEM has been trading around a potential psychology line drawn from the midpoint of a large candle.
As you can see, the stock has previously failed to break above this line, but it's currently trading around it. This could be a sign that the market is preparing for a potential breakout. If the stock can break above this line, it could lead to a bullish rally.
Conclusion
The long candle midpoint indicator is a powerful tool that can help traders identify potential breakout points in the market. By analyzing the midpoint of a long candle, traders can gain insights into the market's sentiment and potential areas of support or resistance.
In the case of TATACHEM, the stock is currently trading around a potential psychology line, which could be a sign of a potential breakout. Traders can consider this point in their watch list for a potential entry. Tips for Traders
Use the long candle midpoint indicator in conjunction with other technical indicators to gain a more comprehensive understanding of the market.
Look for confirmation from other indicators before entering a trade.
Set stop-loss and take-profit levels based on the potential breakout point.
Monitor the market closely and be prepared to adjust your strategy if the market doesn't behave as expected.
By incorporating the long candle midpoint indicator into your trading strategy, you can gain an edge in the market and make more informed trading decisions.
Wave Consolidation [LuxAlgo]The Wave Consolidation indicator uses market profiles to highlight consolidation zones based on upward and downward moves determined when a Higher-High or Lower-Low is created.
Users can control the amount of consolidation zones to display and the sensitivity of the swing point detection used to return those zones.
🔶 USAGE
These zones are intended as areas of interest to traders where price has seen historical interactions, which can be interpreted as support and resistance. By identifying these areas of interest before the price returns to them, traders are able to anticipate and prepare for various scenarios and respond dynamically to the behavior of the market, as seen below.
Rejection: A quick move away from the zone may indicate that the area is either overvalued or undervalued, leading to a fast movement in the opposite direction.
Breakthrough: Moving beyond a zone could indicate acceptance at that specific price, potentially signaling a shift in momentum or the start of a new trend. In a strong major trend, zones created from smaller trends could be used as price targets for taking profit and managing risk.
Consolidation: Holding these zones might suggest a market in balance at these levels, this could lead to opportunities for range-bound trading.
Below is an example of the Rejection and Consolidation scenarios described above.
Note: By analyzing the tests and retests of these zones, traders can also gain further insight into where participants are interacting in the market.
🔶 DETAILS
The full process for acquiring and managing these zones is described in the sub-sections below.
🔹 Creation
By only considering market movements creating a higher-high or lower-low, we can identify meaningful, directional, moves which can then be used to calculate zones.
Once a move is identified, the script calculates a volume profile spanning the length of the given move.
The width of the zones is determined starting from the POC of the profile and expanding outwards until the value of the profile's row falls below the profile's average.
Note: By increasing the "Multiplier" Input, Users can increase the threshold the script uses to determine zone width in multiples of Standard Deviations above the Average.
While this area is similar to a VP Value Area, it is not intended to replicate a value zone. The calculation is not concerned with capturing any % of the total profile's volume within the zone and only analyzes based on a fixed inclusion threshold.
🔹 Management
To keep clutter to a minimum, If a new zone overlaps a recently created zone, the zones are grouped as one. This is especially helpful in areas where prices are ranging, creating multiple zones in a very similar area.
Zones before management:
Zones after management:
🔹 Deletion
Just because a zone is crossed, does not make it immediately unimportant!
Once a Zone is mitigated (crossed in the opposite direction of its bias) it is reduced to a single dotted line representing the outer threshold for the zone. These lines are important to watch, as the price will often retest a break. For this reason, they will stay on the chart until the next swing point is detected when they will finally be deleted for good.
Below is an example of activity around a broken zone before it is deleted.
Below is the same example 2bBars later , once the new swing is confirmed, the dotted lines are deleted and new zones are created.
Notice how the newly formed resistance zone is in the same area where we noticed sellers previously.
🔶 SETTINGS
🔹 Structure
Display Structure: Determines if swing structures are displayed.
Structure Length: Sets Length for structure identification.
🔹 Zones
Volume-Based Calculations: Opt to use a "Volume" based Profile Calculation instead of the default "Price Action" based Calculation.
Display Count: Sets the specific number of bullish and bearish zones to display on the chart.
Multiplier: Sets the multiplier to use for the value cut-off for determining zone boundaries.
🔹 Style
Display Average Lines: Toggles on/off the average (mid) lines for the zones.
Initial Balance [UkutaLabs]█ OVERVIEW
The Initial Balance Indicator is a powerful trading tool that indicates a strong range based on the high and low of the first hour after market open. This range serves as a potential area of Support or Resistance that traders should be aware of during their trading. Because of this, the Initial Balance Indicator is a versatile trading tool that can be included in a wide variety of trading strategies.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
When the New York Market opens each day, the script will automatically identify and label the opening range of the first hour of the trading day in real time.
Because there tends to be a spike in volume during this period, the range that is identified can serve as a powerful indication of overall market strength. Once the price breaks out of this range, it then can be used as an area of support or resistance depending on the direction of the breakout.
█ SETTINGS
Configuration
• Display Mode: Determines the number of days that the script should load.
• Show Labels: Determines whether identifying labels are drawn on the chart as well.
• Initial Balance Color: Determines the color of the range and labels that are drawn by the indicator.
• Extension Levels: Determines the number of extension levels that should be drawn on either side of the range. These levels are drawn at an interval of half the width of the Initial Balance range.
• Extension Levels Color: Determines the color of the extension level lines.
Pivot Levels [UkutaLabs]█ OVERVIEW
The Pivot Levels Indicator provides real-time insight into key price levels within the market that can serve as powerful support and resistance levels. These levels are based on currently-relevant price-action information to ensure that the lines being drawn provide the most value to traders regardless of their trading style.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
At the beginning of each trading day, the script will identify the previous day’s hlc3 level. We refer to this level as the day’s Source Level, and it is from this price that the other Resistance and Support levels are calculated.
The script then identifies the total price range of the previous day (Previous Day High - Previous Day Low), then draws Resistance and Support lines based on the Source Level and the previous day’s range.
The script identifies these levels on both sides of the Source. Levels above the Source are considered to be points of Resistance and below the Source are considered to be Support, but the levels are free to be interpreted and used in whatever way fits the user’s trading strategy.
A label is drawn at the end of each line that identifies the line and whether it represents support or resistance. These labels can be disabled in the settings.
█ SETTINGS
Configuration
• Show Labels: Determines whether or not labels are displayed at the end of each line.
• Display Mode: Determines the number of days for the script to load.
Line Settings
• Resistance Color: Determines the color of the resistance lines and labels above the Source Level.
• Source Color: Determines the color of the source line and label.
• Support Color: Determines the color of the support lines and labels below the Source Level.
• Line width: Determines the width of lines.
• Line Style: Determines the style of lines.
