High-Probability Buy/Sell with Levels

20시간 전

This Pine Script indicator generates Buy and Sell signals based on dynamic manipulation and distribution levels derived from daily price data. It is designed for intraday traders seeking high-probability trades with clear stop-loss and take-profit levels, targeting minimum 50-100 point moves.

Key Features:
Manipulation & Distribution Levels:

Manipulation Plus: A quarter above the daily range added to the daily open.
Manipulation Minus: A quarter below the daily range subtracted from the daily open.
These levels signify areas of price breakout or reversal.
Signal Logic:

Buy Signal: Triggered when the price crosses above manipulation_plus.
Sell Signal: Triggered when the price crosses below manipulation_minus.
Signals are filtered to ensure they correspond to potential 50-100 point moves.
Stop Loss & Take Profit:

Stop Loss: Positioned at the opposite manipulation level (e.g., manipulation_minus for a buy signal).
Take Profit: Positioned at the manipulation level + threshold (e.g., manipulation_plus + 100 points).
Limited Signals:

The script ensures no more than 1-3 valid signals per session to avoid overtrading.
Visual Elements:

Buy (Green Label) and Sell (Red Label) signals appear on the specific candle for entry.
Stop Loss (Red Circles) and Take Profit (Green Circles) are plotted for clarity.
Customization:

The threshold for moves can be adjusted (default: 100 points).
How to Use:
Identify Signals:

Wait for a Buy or Sell signal on the chart.
Place a trade accordingly, aligning your entry with the label.
Manage Risk:

Set your stop loss and take profit at the suggested levels to manage risk and reward effectively.
High-Probability Trades:

Focus on limited trades per session for precision and to avoid noise.
This script is ideal for intraday traders looking for simplicity and a structured approach to target large moves in price. Let me know if further adjustments are needed!