Heat Map Trend (VIDYA MA) [BigBeluga]The Heat Map Trend (VIDYA MA) - BigBeluga indicator is a multi-timeframe trend detection tool based on the Volumetric Variable Index Dynamic Average (VIDYA). This indicator calculates trends using volume momentum, or volatility if volume data is unavailable, and displays the trends across five customizable timeframes. It features a heat map to visualize trends, color-coded candles based on an average of the five timeframes, and a dashboard that shows the current trend direction for each timeframe. This tool helps traders identify trends while minimizing market noise and is particularly useful in detecting faster market changes in shorter timeframes.
🔵 KEY FEATURES & USAGE
◉ Volumetric Variable Index Dynamic Average (VIDYA):
The core of the indicator is the VIDYA moving average, which adjusts dynamically based on volume momentum. If volume data isn't available, the indicator uses volatility instead to smooth the moving average. This allows traders to assess the trend direction with more accuracy, using either volume or volatility, if volume data is not provided, as the basis for the trend calculation.
// VIDYA CALCULATION -----------------------------------------------------------------------------------------
// ATR (Average True Range) and volume calculation
bool volume_check = ta.cum(volume) <= 0
float atrVal = ta.atr(1)
float volVal = volume_check ? atrVal : volume // Use ATR if volume is not available
// @function: Calculate the VIDYA (Volumetric Variable Index Dynamic Average)
vidya(src, len, cmoLen) =>
float cmoVal = ta.sma(ta.cmo(volVal, cmoLen), 10) // Calculate the CMO and smooth it with an SMA
float absCmo = math.abs(cmoVal) // Absolute value of CMO
float alpha = 2 / (len + 1) // Alpha factor for smoothing
var float vidyaVal = 0.0 // Initialize VIDYA
vidyaVal := alpha * absCmo / 100 * src + (1 - alpha * absCmo / 100) * nz(vidyaVal ) // VIDYA formula
◉ Multi-Timeframe Trend Analysis with Heat Map Visualization:
The indicator calculates VIDYA across five customizable timeframes, allowing traders to analyze trends from multiple perspectives. The resulting trends are displayed as a heat map below the chart, where each timeframe is represented by a gradient color. The color intensity reflects the distance of the moving average (VIDYA) from the price, helping traders to identify trends on different timeframes visually. Shorter timeframes in the heat map are particularly useful for detecting faster market changes, while longer timeframes help to smooth out market noise and highlight the general trend.
Trend Direction:
Heat Map Reading:
◉ Dashboard for Multi-Timeframe Trend Directions:
The built-in dashboard displays the trend direction for each of the five timeframes, showing whether the trend is up or down. This quick overview provides traders with valuable insights into the current market conditions across multiple timeframes, helping them to assess whether the market is aligned or if there are conflicting trends. This allows for more informed decisions, especially during volatile periods.
◉ Color-Coded Candles Based on Multi-Timeframe Averages:
Candles are dynamically colored based on the average of the VIDYA across all five timeframes. When the price is in an uptrend, the candles are colored blue, while in a downtrend, they are colored red. If the VIDYA averages suggest a possible trend shift, the candles are displayed in orange to highlight a potential change in momentum. This color coding simplifies the process of identifying the dominant trend and spotting potential reversals.
BTC:
SP500:
◉ UP and DOWN Signals for Trend Direction Changes:
The indicator provides clear UP and DOWN signals to mark trend direction changes. When the average VIDYA crosses above a certain threshold, an UP signal is plotted, indicating a shift to an uptrend. Conversely, when it crosses below, a DOWN signal is shown, highlighting a transition to a downtrend. These signals help traders to quickly identify shifts in market direction and respond accordingly.
🔵 CUSTOMIZATION
VIDYA Length and Momentum Settings:
Adjust the length of the VIDYA moving average and the period for calculating volume momentum. These settings allow you to fine-tune how sensitive the indicator is to market changes, helping to match it with your preferred trading style.
Timeframe Selection:
Select five different timeframes to analyze trends simultaneously. This gives you the flexibility to focus on short-term trends, long-term trends, or a combination of both depending on your trading strategy.
Candle and Heat Map Color Customization:
Change the colors of the candles and heat map to fit your personal preferences. This customization allows you to align the visuals of the indicator with your overall chart setup, making it easier to analyze market conditions.
🔵 CONCLUSION
The Heat Trend (VIDYA MA) - BigBeluga indicator provides a comprehensive, multi-timeframe view of market trends, using VIDYA moving averages that adapt to volume momentum or volatility. Its heat map visualization, combined with a dashboard of trend directions and color-coded candles, makes it an invaluable tool for traders looking to understand both short-term market fluctuations and longer-term trends. By showing the overall market direction across multiple timeframes, it helps traders avoid market noise and focus on the bigger picture while being alert to faster shifts in shorter timeframes.
Multitimeframe
Smart Money with Impulsive Move Detection & Ultra PrecisionHere's a description you can use for your TradingView script:
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**Smart Money with Impulsive Move Detection & Ultra Precision**
This strategy combines multiple powerful tools from Smart Money Concepts (SMC) to detect high-probability impulsive moves with precision. It uses advanced market structure analysis, volume filters, trend confirmation, and technical indicators to give you precise buy and sell signals. The goal is to minimize the risk of market movement against the signals, ensuring you capture impulsive market moves with a higher level of accuracy.
### Key Features:
1. **Order Blocks**: Identifies bullish and bearish order blocks to indicate potential reversal points, ensuring you trade in the direction of institutional interest.
2. **Fair Value Gaps (FVG)**: Detects price gaps that represent liquidity voids, providing opportunities to trade with minimal risk.
3. **Market Structure Shifts (MSS)**: Identifies changes in market structure (bullish or bearish) to confirm trend direction, reducing the likelihood of false signals.
4. **RSI and MACD Confirmation**: Uses RSI and MACD indicators to confirm the strength of the trend and impulsive moves, providing further assurance before entering trades.
5. **Volume Analysis**: Filters signals based on significant volume, ensuring that you only trade with market participants that show true momentum.
6. **Multi-Timeframe Trend Analysis**: Uses higher timeframe trend direction to confirm the trend on your current timeframe, ensuring you only take trades in the direction of the larger market trend.
7. **High-Probability Impulsive Moves**: Signals are given only when all conditions align, increasing the probability of success and minimizing risk.
8. **Alerts**: Customizable alerts for bullish and bearish order blocks, FVG, MSS, and impulsive moves so that you never miss an opportunity.
### How to Use:
- **Buy Signal**: When a bullish order block, bullish market structure shift, and impulsive move with volume confirmation occur, a buy signal is generated.
- **Sell Signal**: When a bearish order block, bearish market structure shift, and impulsive move with volume confirmation occur, a sell signal is generated.
- **Trend Confirmation**: The script works best in a trending market. Signals are filtered by trend direction, with only trades in alignment with the larger trend being considered.
### Ideal Use Case:
- **Swing Traders**: Capture large impulsive moves in the market.
- **Scalpers**: Benefit from precise entry points with minimal drawdown.
- **Trend Followers**: Follow the trend while reducing the risk of false signals.
### Disclaimer:
While this script is designed to minimize risk and improve trade accuracy, no system can guarantee 100% accuracy in the market. Always use proper risk management and adjust settings according to your trading strategy.
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This description provides a clear explanation of the script’s features, how it works, and how to use it effectively on TradingView. Let me know if you need any further changes!
Trend Direction HelperThe “Trend Direction Helper” is a simple yet effective indicator designed to quickly show you the overall market trend at a glance. It plots two customizable moving averages (fast and slow) on your chart and uses a colored background to visualize trend direction:
• Green Background: The fast MA is above the slow MA, suggesting an uptrend.
• Red Background: The fast MA is below the slow MA, indicating a downtrend.
• Yellow Background: The MAs are close or equal, reflecting market indecision or consolidation.
This tool helps you maintain a clear perspective on price action by filtering out noise and highlighting the dominant trend. You can adjust the lengths and types of the moving averages to suit different trading styles, instruments, and timeframes. Integrate this indicator into your workflow to support better decision-making and improve your overall trading strategy.
Multiple Anchored WAP [TheWealthVriksh.com]Multiple Anchored Average Price indicator is designed to pinpoint a specific date and price in a given financial instrument's price chart. Once anchored to the desired date and price level, the script calculates and displays the average price from that anchor point to the current day.
Features
Customizable Source: Allows users to choose the source data for calculations. By default, it uses hlc3, which is the average of high, low, and close prices.
Start Date Input: The script includes a timestamp-based input that allows the user to specify the anchor date easily.
Customizable Color: Users can change the color of the plotted average line, adding an additional layer of customization to the visual representation.
Code Mechanics
Initialization: Declares the variables and arrays required for calculations and display. The array is used to store price data.
Condition Check: Only starts storing and calculating data if the chart's time is equal to or greater than the user-defined start date.
Data Storing: Once the condition is met, the script pushes the src price data into the array for future averaging.
Average Calculation: It calculates the average price of the values stored in the array.
Data Clearing: If the condition is not met, the array is cleared, and no average is plotted.
Plotting: The average price is plotted on the chart with the user-defined color.
By incorporating these features and mechanics, Multiple Anchored WAP provides traders and investors with a powerful tool for assessing average prices anchored to a specific date or swing.
Disclaimer:
This TradingView script is intended for educational and informational purposes only and should not be considered as investment or trading advice. Past performance is not indicative of future results. Trading and investing carry a high level of risk, and you should consult with a qualified financial advisor before making any financial decisions. The creator of this script, Prakash Tejwani, is not responsible for any losses or damages incurred as a result of using this script.
Trade smart, stay safe
Prakash Tejwani
TheWealthVriksh.com
YASEI KILLZONESEste indicador de sesiones esta actualizado en horas especificas para el uso de mis estrategias en Level Up Japan
Multi-Timeframe Stochastic Alert [tradeviZion]# Multi-Timeframe Stochastic Alert : Complete User Guide
## 1. Introduction
### What is the Multi-Timeframe Stochastic Alert?
The Multi-Timeframe Stochastic Alert is an advanced technical analysis tool that helps traders identify potential trading opportunities by analyzing momentum across multiple timeframes. It combines the power of the stochastic oscillator with multi-timeframe analysis to provide more reliable trading signals.
### Key Features and Benefits
- Simultaneous analysis of 6 different timeframes
- Advanced alert system with customizable conditions
- Real-time visual feedback with color-coded signals
- Comprehensive data table with instant market insights
- Motivational trading messages for psychological support
- Flexible theme support for comfortable viewing
### How it Can Help Your Trading
- Identify stronger trends by confirming momentum across multiple timeframes
- Reduce false signals through multi-timeframe confirmation
- Stay informed of market changes with customizable alerts
- Make more informed decisions with comprehensive market data
- Maintain trading discipline with clear visual signals
## 2. Understanding the Display
### The Stochastic Chart
The main chart displays three key components:
1. ** K-Line (Fast) **: The primary stochastic line (default color: green)
2. ** D-Line (Slow) **: The signal line (default color: red)
3. ** Reference Lines **:
- Overbought Level (80): Upper dashed line
- Middle Line (50): Center dashed line
- Oversold Level (20): Lower dashed line
### The Information Table
The table provides a comprehensive view of stochastic readings across all timeframes. Here's what each column means:
#### Column Explanations:
1. ** Timeframe **
- Shows the time period for each row
- Example: "5" = 5 minutes, "15" = 15 minutes, etc.
2. ** K Value **
- The fast stochastic line value (0-100)
- Higher values indicate stronger upward momentum
- Lower values indicate stronger downward momentum
3. ** D Value **
- The slow stochastic line value (0-100)
- Helps confirm momentum direction
- Crossovers with K-line can signal potential trades
4. ** Status **
- Shows current momentum with symbols:
- ▲ = Increasing (bullish)
- ▼ = Decreasing (bearish)
- Color matches the trend direction
5. ** Trend **
- Shows the current market condition:
- "Overbought" (above 80)
- "Bullish" (above 50)
- "Bearish" (below 50)
- "Oversold" (below 20)
#### Row Explanations:
1. ** Title Row **
- Shows "🎯 Multi-Timeframe Stochastic"
- Indicates the indicator is active
2. ** Header Row **
- Contains column titles
- Dark blue background for easy reading
3. ** Timeframe Rows **
- Six rows showing different timeframe analyses
- Each row updates independently
- Color-coded for easy trend identification
4. **Message Row**
- Shows rotating motivational messages
- Updates every 5 bars
- Helps maintain trading discipline
### Visual Indicators and Colors
- ** Green Background **: Indicates bullish conditions
- ** Red Background **: Indicates bearish conditions
- ** Color Intensity **: Shows strength of the signal
- ** Background Highlights **: Appear when alert conditions are met
## 3. Core Settings Groups
### Stochastic Settings
These settings control the core calculation of the stochastic oscillator.
1. ** Length (Default: 14) **
- What it does: Determines the lookback period for calculations
- Higher values (e.g., 21): More stable, fewer signals
- Lower values (e.g., 8): More sensitive, more signals
- Recommended:
* Day Trading: 8-14
* Swing Trading: 14-21
* Position Trading: 21-30
2. ** Smooth K (Default: 3) **
- What it does: Smooths the main stochastic line
- Higher values: Smoother line, fewer false signals
- Lower values: More responsive, but more noise
- Recommended:
* Day Trading: 2-3
* Swing Trading: 3-5
* Position Trading: 5-7
3. ** Smooth D (Default: 3) **
- What it does: Smooths the signal line
- Works in conjunction with Smooth K
- Usually kept equal to or slightly higher than Smooth K
- Recommended: Keep same as Smooth K for consistency
4. ** Source (Default: Close) **
- What it does: Determines price data for calculations
- Options: Close, Open, High, Low, HL2, HLC3, OHLC4
- Recommended: Stick with Close for most reliable signals
### Timeframe Settings
Controls the multiple timeframes analyzed by the indicator.
1. ** Main Timeframes (TF1-TF6) **
- TF1 (Default: 10): Shortest timeframe for quick signals
- TF2 (Default: 15): Short-term trend confirmation
- TF3 (Default: 30): Medium-term trend analysis
- TF4 (Default: 30): Additional medium-term confirmation
- TF5 (Default: 60): Longer-term trend analysis
- TF6 (Default: 240): Major trend confirmation
Recommended Combinations:
* Scalping: 1, 3, 5, 15, 30, 60
* Day Trading: 5, 15, 30, 60, 240, D
* Swing Trading: 15, 60, 240, D, W, M
2. ** Wait for Bar Close (Default: true) **
- What it does: Controls when calculations update
- True: More reliable but slightly delayed signals
- False: Faster signals but may change before bar closes
- Recommended: Keep True for more reliable signals
### Alert Settings
#### Main Alert Settings
1. ** Enable Alerts (Default: true) **
- Master switch for all alert notifications
- Toggle this off when you don't want any alerts
- Useful during testing or when you want to focus on visual signals only
2. ** Alert Condition (Options) **
- "Above Middle": Bullish momentum alerts only
- "Below Middle": Bearish momentum alerts only
- "Both": Alerts for both directions
- Recommended:
* Trending Markets: Choose direction matching the trend
* Ranging Markets: Use "Both" to catch reversals
* New Traders: Start with "Both" until you develop a specific strategy
3. ** Alert Frequency **
- "Once Per Bar": Immediate alerts during the bar
- "Once Per Bar Close": Alerts only after bar closes
- Recommended:
* Day Trading: "Once Per Bar" for quick reactions
* Swing Trading: "Once Per Bar Close" for confirmed signals
* Beginners: "Once Per Bar Close" to reduce false signals
#### Timeframe Check Settings
1. ** First Check (TF1) **
- Purpose: Confirms basic trend direction
- Alert Triggers When:
* For Bullish: Stochastic is above middle line (50)
* For Bearish: Stochastic is below middle line (50)
* For Both: Triggers in either direction based on position relative to middle line
- Settings:
* Enable/Disable: Turn first check on/off
* Timeframe: Default 5 minutes
- Best Used For:
* Quick trend confirmation
* Entry timing
* Scalping setups
2. ** Second Check (TF2) **
- Purpose: Confirms both position and momentum
- Alert Triggers When:
* For Bullish: Stochastic is above middle line AND both K&D lines are increasing
* For Bearish: Stochastic is below middle line AND both K&D lines are decreasing
* For Both: Triggers based on position and direction matching current condition
- Settings:
* Enable/Disable: Turn second check on/off
* Timeframe: Default 15 minutes
- Best Used For:
* Trend strength confirmation
* Avoiding false breakouts
* Day trading setups
3. ** Third Check (TF3) **
- Purpose: Confirms overall momentum direction
- Alert Triggers When:
* For Bullish: Both K&D lines are increasing (momentum confirmation)
* For Bearish: Both K&D lines are decreasing (momentum confirmation)
* For Both: Triggers based on matching momentum direction
- Settings:
* Enable/Disable: Turn third check on/off
* Timeframe: Default 30 minutes
- Best Used For:
* Major trend confirmation
* Swing trading setups
* Avoiding trades against the main trend
Note: All three conditions must be met simultaneously for the alert to trigger. This multi-timeframe confirmation helps reduce false signals and provides stronger trade setups.
#### Alert Combinations Examples
1. ** Conservative Setup **
- Enable all three checks
- Use "Once Per Bar Close"
- Timeframe Selection Example:
* First Check: 15 minutes
* Second Check: 1 hour (60 minutes)
* Third Check: 4 hours (240 minutes)
- Wider gaps between timeframes reduce noise and false signals
- Best for: Swing trading, beginners
2. ** Aggressive Setup **
- Enable first two checks only
- Use "Once Per Bar"
- Timeframe Selection Example:
* First Check: 5 minutes
* Second Check: 15 minutes
- Closer timeframes for quicker signals
- Best for: Day trading, experienced traders
3. ** Balanced Setup **
- Enable all checks
- Use "Once Per Bar"
- Timeframe Selection Example:
* First Check: 5 minutes
* Second Check: 15 minutes
* Third Check: 1 hour (60 minutes)
- Balanced spacing between timeframes
- Best for: All-around trading
### Visual Settings
#### Alert Visual Settings
1. ** Show Background Color (Default: true) **
- What it does: Highlights chart background when alerts trigger
- Benefits:
* Makes signals more visible
* Helps spot opportunities quickly
* Provides visual confirmation of alerts
- When to disable:
* If using multiple indicators
* When preferring a cleaner chart
* During manual backtesting
2. ** Background Transparency (Default: 90) **
- Range: 0 (solid) to 100 (invisible)
- Recommended Settings:
* Clean Charts: 90-95
* Multiple Indicators: 85-90
* Single Indicator: 80-85
- Tip: Adjust based on your chart's overall visibility
3. ** Background Colors **
- Bullish Background:
* Default: Green
* Indicates upward momentum
* Customizable to match your theme
- Bearish Background:
* Default: Red
* Indicates downward momentum
* Customizable to match your theme
#### Level Settings
1. ** Oversold Level (Default: 20) **
- Traditional Setting: 20
- Adjustable Range: 0-100
- Usage:
* Lower values (e.g., 10): More conservative
* Higher values (e.g., 30): More aggressive
- Trading Applications:
* Potential bullish reversal zone
* Support level in uptrends
* Entry point for long positions
2. ** Overbought Level (Default: 80) **
- Traditional Setting: 80
- Adjustable Range: 0-100
- Usage:
* Lower values (e.g., 70): More aggressive
* Higher values (e.g., 90): More conservative
- Trading Applications:
* Potential bearish reversal zone
* Resistance level in downtrends
* Exit point for long positions
3. ** Middle Line (Default: 50) **
- Purpose: Trend direction separator
- Applications:
* Above 50: Bullish territory
* Below 50: Bearish territory
* Crossing 50: Potential trend change
- Trading Uses:
* Trend confirmation
* Entry/exit trigger
* Risk management level
#### Color Settings
1. ** Bullish Color (Default: Green) **
- Used for:
* K-Line (Main stochastic line)
* Status symbols when trending up
* Trend labels for bullish conditions
- Customization:
* Choose colors that stand out
* Match your trading platform theme
* Consider color blindness accessibility
2. ** Bearish Color (Default: Red) **
- Used for:
* D-Line (Signal line)
* Status symbols when trending down
* Trend labels for bearish conditions
- Customization:
* Choose contrasting colors
* Ensure visibility on your chart
* Consider monitor settings
3. ** Neutral Color (Default: Gray) **
- Used for:
* Middle line (50 level)
- Customization:
* Should be less prominent
* Easy on the eyes
* Good background contrast
### Theme Settings
1. **Color Theme Options**
- Dark Theme (Default):
* Dark background with white text
* Optimized for dark chart backgrounds
* Reduces eye strain in low light
- Light Theme:
* Light background with black text
* Better visibility in bright conditions
- Custom Theme:
* Use your own color preferences
2. ** Available Theme Colors **
- Table Background
- Table Text
- Table Headers
Note: The theme affects only the table display colors. The stochastic lines and alert backgrounds use their own color settings.
### Table Settings
#### Position and Size
1. ** Table Position **
- Options:
* Top Right (Default)
* Middle Right
* Bottom Right
* Top Left
* Middle Left
* Bottom Left
- Considerations:
* Chart space utilization
* Personal preference
* Multiple monitor setups
2. ** Text Sizes **
- Title Size Options:
* Tiny: Minimal space usage
* Small: Compact but readable
* Normal (Default): Standard visibility
* Large: Enhanced readability
* Huge: Maximum visibility
- Data Size Options:
* Recommended: One size smaller than title
* Adjust based on screen resolution
* Consider viewing distance
3. ** Empowering Messages **
- Purpose:
* Maintain trading discipline
* Provide psychological support
* Remind of best practices
- Rotation:
* Changes every 5 bars
* Categories include:
- Market Wisdom
- Strategy & Discipline
- Mindset & Growth
- Technical Mastery
- Market Philosophy
## 4. Setting Up for Different Trading Styles
### Day Trading Setup
1. **Timeframes**
- Primary: 5, 15, 30 minutes
- Secondary: 1H, 4H
- Alert Settings: "Once Per Bar"
2. ** Stochastic Settings **
- Length: 8-14
- Smooth K/D: 2-3
- Alert Condition: Match market trend
3. ** Visual Settings **
- Background: Enabled
- Transparency: 85-90
- Theme: Based on trading hours
### Swing Trading Setup
1. ** Timeframes **
- Primary: 1H, 4H, Daily
- Secondary: Weekly
- Alert Settings: "Once Per Bar Close"
2. ** Stochastic Settings **
- Length: 14-21
- Smooth K/D: 3-5
- Alert Condition: "Both"
3. ** Visual Settings **
- Background: Optional
- Transparency: 90-95
- Theme: Personal preference
### Position Trading Setup
1. ** Timeframes **
- Primary: Daily, Weekly
- Secondary: Monthly
- Alert Settings: "Once Per Bar Close"
2. ** Stochastic Settings **
- Length: 21-30
- Smooth K/D: 5-7
- Alert Condition: "Both"
3. ** Visual Settings **
- Background: Disabled
- Focus on table data
- Theme: High contrast
## 5. Troubleshooting Guide
### Common Issues and Solutions
1. ** Too Many Alerts **
- Cause: Settings too sensitive
- Solutions:
* Increase timeframe intervals
* Use "Once Per Bar Close"
* Enable fewer timeframe checks
* Adjust stochastic length higher
2. ** Missed Signals **
- Cause: Settings too conservative
- Solutions:
* Decrease timeframe intervals
* Use "Once Per Bar"
* Enable more timeframe checks
* Adjust stochastic length lower
3. ** False Signals **
- Cause: Insufficient confirmation
- Solutions:
* Enable all three timeframe checks
* Use larger timeframe gaps
* Wait for bar close
* Confirm with price action
4. ** Visual Clarity Issues **
- Cause: Poor contrast or overlap
- Solutions:
* Adjust transparency
* Change theme settings
* Reposition table
* Modify color scheme
### Best Practices
1. ** Getting Started **
- Start with default settings
- Use "Both" alert condition
- Enable all timeframe checks
- Wait for bar close
- Monitor for a few days
2. ** Fine-Tuning **
- Adjust one setting at a time
- Document changes and results
- Test in different market conditions
- Find your optimal timeframe combination
- Balance sensitivity with reliability
3. ** Risk Management **
- Don't trade against major trends
- Confirm signals with price action
- Use appropriate position sizing
- Set clear stop losses
- Follow your trading plan
4. ** Regular Maintenance **
- Review settings weekly
- Adjust for market conditions
- Update color scheme for visibility
- Clean up chart regularly
- Maintain trading journal
## 6. Tips for Success
1. ** Entry Strategies **
- Wait for all timeframes to align
- Confirm with price action
- Use proper position sizing
- Consider market conditions
2. ** Exit Strategies **
- Trail stops using indicator levels
- Take partial profits at targets
- Honor your stop losses
- Don't fight the trend
3. ** Psychology **
- Stay disciplined with settings
- Don't override system signals
- Keep emotions in check
- Learn from each trade
4. ** Continuous Improvement **
- Record your trades
- Review performance regularly
- Adjust settings gradually
- Stay educated on markets
Session Highlights (Fixed)This highlights each session based on UK time of UTC-0
This will help with looking for liquidity sweeps from different sessions.
For example, London sweeping the Asia highs or lows
Vegas Channel Strategy (Long Only)Vegas Channel Strategy with Leverage - Script Explanation
This script implements the Vegas Channel Strategy for swing trading with long-only positions using customizable short and long period moving averages. It includes buy and sell signals, a trend indication, and the ability to visualize background color to signify the market’s direction (bullish trends). Additionally, this version can be adjusted to incorporate leverage.
Key Features of the Script:
1. Moving Averages (MA):
• The strategy uses two short-period MAs (144 and 169), and two long-period MAs (576 and 676) to define the trend and identify entry/exit points.
• The short-period MAs help to track the more immediate market trends, while the long-period MAs are used for longer-term trend confirmation.
2. Trade Signals:
• Buy Signal: A buy signal is generated when the price crosses above the 144-period short MA, and the market is in a bullish trend as confirmed by the short MA being above the long MA.
• Sell Signal: A sell signal is triggered when the price crosses below the 169-period short MA, indicating that the market may be reversing.
• Signal Visualization: These signals are displayed on the chart with green arrows for buy and red arrows for sell.
3. Trend Indication:
• The script highlights the background color of the chart to indicate bullish trends. When the market is in a bullish trend, the background turns a light green color, which is adjustable for transparency and visibility.
• This helps traders visually identify the prevailing trend.
4. Leverage Adjustment (if needed):
• The script can be further adjusted to account for leverage by allowing position sizes to be magnified. Leverage enhances potential returns, but also increases risk.
• Traders can modify the position size, risk allocation, and trade settings to manage how leverage impacts the overall strategy.
5. Background Colors:
• The background color will turn light green during a bullish trend with high transparency (95), allowing for a gentle trend indication without overwhelming the chart’s visibility.
6. Customizable Parameters:
• The lengths of the moving averages (short MA and long MA) are fully adjustable via input fields, giving flexibility to tailor the strategy based on different market conditions or trading preferences.
Important Notes:
• Trend Reliance: The strategy works best in trending markets. In sideways or highly volatile markets, the signals might not be as reliable.
• Risk Management: Traders are encouraged to incorporate stop-loss and take-profit levels when using leverage. The script does not include automatic risk management features, so setting your own risk parameters is crucial.
• Leverage: Leverage increases both potential profit and risk. Be cautious when adjusting leverage, and ensure that position sizing is aligned with your overall risk tolerance and capital allocation.
Ding's Dynamic Crossover ZonesDing's Dynamic Crossover Zones uses the crossover of the Exponential Moving Average (EMA) and Simple Moving Average (SMA) to highlight bullish and bearish market trends. A green zone appears when the EMA crosses above the SMA, indicating a bullish trend and potential buy or hold opportunities. A red zone appears when the EMA crosses below the SMA, signaling a bearish trend and potential sell or short opportunities. The zones extend dynamically to reflect the duration of each trend, helping traders decide how long to hold their positions. Customize the EMA and SMA lengths in the settings to tailor the script to your strategy and gain valuable insights into market trends.
Trend Dashboard (EMA + RSI + STOCH RSI + MACD + PRICE ACTION).🚀 New Indicator on TradingView!
📊 Everything you need, all in one place:
- 4 customizable EMAs
- Adjustable RSI and STOCH RSI
- MACD and Price Action always in sight
💡 Dynamic and adaptable to your time frame
✔ Clear visualization in the top-right corner with box format
🌟 Simplify your analysis, maximize your results!
🔗 Available now on TradingView!
#TradingView #Indicators #TechnicalAnalysis
Smart Money with Impulsive Move Detection & Ultra PrecisionHere's a description you can use for your TradingView script:
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**Smart Money with Impulsive Move Detection & Ultra Precision**
This strategy combines multiple powerful tools from Smart Money Concepts (SMC) to detect high-probability impulsive moves with precision. It uses advanced market structure analysis, volume filters, trend confirmation, and technical indicators to give you precise buy and sell signals. The goal is to minimize the risk of market movement against the signals, ensuring you capture impulsive market moves with a higher level of accuracy.
### Key Features:
1. **Order Blocks**: Identifies bullish and bearish order blocks to indicate potential reversal points, ensuring you trade in the direction of institutional interest.
2. **Fair Value Gaps (FVG)**: Detects price gaps that represent liquidity voids, providing opportunities to trade with minimal risk.
3. **Market Structure Shifts (MSS)**: Identifies changes in market structure (bullish or bearish) to confirm trend direction, reducing the likelihood of false signals.
4. **RSI and MACD Confirmation**: Uses RSI and MACD indicators to confirm the strength of the trend and impulsive moves, providing further assurance before entering trades.
5. **Volume Analysis**: Filters signals based on significant volume, ensuring that you only trade with market participants that show true momentum.
6. **Multi-Timeframe Trend Analysis**: Uses higher timeframe trend direction to confirm the trend on your current timeframe, ensuring you only take trades in the direction of the larger market trend.
7. **High-Probability Impulsive Moves**: Signals are given only when all conditions align, increasing the probability of success and minimizing risk.
8. **Alerts**: Customizable alerts for bullish and bearish order blocks, FVG, MSS, and impulsive moves so that you never miss an opportunity.
### How to Use:
- **Buy Signal**: When a bullish order block, bullish market structure shift, and impulsive move with volume confirmation occur, a buy signal is generated.
- **Sell Signal**: When a bearish order block, bearish market structure shift, and impulsive move with volume confirmation occur, a sell signal is generated.
- **Trend Confirmation**: The script works best in a trending market. Signals are filtered by trend direction, with only trades in alignment with the larger trend being considered.
### Ideal Use Case:
- **Swing Traders**: Capture large impulsive moves in the market.
- **Scalpers**: Benefit from precise entry points with minimal drawdown.
- **Trend Followers**: Follow the trend while reducing the risk of false signals.
### Disclaimer:
While this script is designed to minimize risk and improve trade accuracy, no system can guarantee 100% accuracy in the market. Always use proper risk management and adjust settings according to your trading strategy.
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This description provides a clear explanation of the script’s features, how it works, and how to use it effectively on TradingView. Let me know if you need any further changes!
CandelaCharts - Volume Imbalance (VI) 📝 Overview
Volume Imbalance occurs when there’s a noticeable gap between the bodies of two consecutive candlesticks, with no overlap between them. While the wicks of the candles might intersect, the candle bodies remain entirely separate. This phenomenon often signifies that the algorithm driving market activity did not evenly distribute prices between these two levels, leaving behind a small Fair Value Gap (FVG).
A Bullish Volume Imbalance forms when the body of a green candlestick gaps above the previous candle’s body, with no overlap, indicating strong upward momentum and insufficient sell-side liquidity.
A Bearish Volume Imbalance forms when the body of a red candlestick gaps below the previous candle’s body, with no overlap, signaling intense downward pressure and a lack of buy-side liquidity.
This indicator can automatically identify volume imbalances by scanning candlestick patterns and detecting gaps between consecutive candle bodies. These volume imbalances act as price magnets, often attracting the market back to fill the gap before resuming its original direction. Recognizing and leveraging these gaps can be a powerful tool in technical analysis for predicting price movements.
📦 Features
MTF
Mitigation
Consequent Encroachment
Threshold
Hide Overlap
Advanced Styling
⚙️ Settings
Show: Controls whether FVGs are displayed on the chart.
Show Last: Sets the number of FVGs you want to display.
Length: Determines the length of each FVG.
Mitigation: Highlights when an FVG has been touched, using a different color without marking it as invalid.
Timeframe: Specifies the timeframe used to detect FVGs.
Threshold: Sets the minimum gap size required for FVG detection on the chart.
Show Mid-Line: Configures the midpoint line's width and style within the FVG. (Consequent Encroachment - CE)
Show Border: Defines the border width and line style of the FVG.
Hide Overlap: Removes overlapping FVGs from view.
Extend: Extends the FVG length to the current candle.
Elongate: Fully extends the FVG length to the right side of the chart.
⚡️ Showcase
Simple
Mitigated
Bordered
Consequent Encroachment
Extended
🚨 Alerts
This script provides alert options for all signals.
Bearish Signal
A bearish alert triggers when a red candlestick gaps below the previous body, signaling downward pressure.
Bullish Signal
A bullish alert triggers when a green candlestick gaps above the previous body, indicating upward momentum.
⚠️ Disclaimer
Trading involves significant risk, and many participants may incur losses. The content on this site is not intended as financial advice and should not be interpreted as such. Decisions to buy, sell, hold, or trade securities, commodities, or other financial instruments carry inherent risks and are best made with guidance from qualified financial professionals. Past performance is not indicative of future results.
Did it move?That is the eternal question in trading.: Is the price moving? This indicators aims to answer that question. It is based on concepts from 2 Bars from "The Strat". This indicator measures the distance the current price is above the previous high or below the previous low and on two timeframes. The assumption is that the price is moving as long as the price is above or below the previous bar.
The distance the price moved is normalized by the standard deviation. This serves the trader in two ways: 1) you can quickly determine if a price movement is significant (score > 1), and 2) you can plan exits when the score falls below 1 (e.g., movement become insignificant). Movement upwards are colored green and down movements are red. When the price is also above the higher timeframe high (below the HTF low), the color are more intense. When the price is not moving, the background is highlighted.
Finally, there are two alert setting. One is for then the price stops moving (movement score falls below a threshold. The other is a exit/reversal warning. For example if there is a strong move in the opposite it will trigger that alert.
Session Highs and Lows IndicatorThis indicator marks the high and low levels for key trading sessions, allowing traders to identify significant price zones across different markets. The default session times are defined in UTC and will automatically adjust to your local timezone:
- **London Session (07:00-09:00 UTC)**: Tracks intraday liquidity zones for potential highs/lows.
- **New York Session (12:00-14:00 UTC)**: Highlights volatility during market overlaps with Europe.
- **Asia Session (23:00-01:00 UTC)**: Confirms trend continuation and retracement opportunities.
- **New York Close Session (19:00-21:00 UTC)**: Focuses on reversals and breakout tests during global transitions.
The script dynamically updates session highs and lows with clear labels and dashed horizontal lines for better visualization. **Time ranges can be adjusted to suit your trading preferences.** This makes the indicator flexible and effective for liquidity hunting, trend trading, and breakout strategies.
Top-Down Trend and Key Levels with Swing Points//by antaryaami0
Overview
The “Top-Down Trend and Key Levels with Swing Points” indicator is a comprehensive tool designed to enhance your technical analysis by integrating multiple trading concepts into a single, easy-to-use script. It combines higher timeframe trend analysis, key price levels, swing point detection, and ranging market identification to provide a holistic view of market conditions. This indicator is particularly useful for traders who employ multi-timeframe analysis, support and resistance levels, and price action strategies.
Key Features
1. Higher Timeframe Trend Background Shading:
• Purpose: Identifies the prevailing trend on a higher timeframe to align lower timeframe trading decisions with the broader market direction.
• How it Works: The indicator compares the current higher timeframe close with the previous one to determine if the trend is up, down, or ranging.
• Customization:
• Trend Timeframe: Set your preferred higher timeframe (e.g., Daily, Weekly).
• Up Trend Color & Down Trend Color: Customize the background colors for uptrends and downtrends.
• Ranging Market Color: A separate color to indicate when the market is moving sideways.
2. Key Price Levels:
• Previous Day High (PDH) and Low (PDL):
• Purpose: Identifies key support and resistance levels from the previous trading day.
• Visualization: Plots horizontal lines at PDH and PDL with labels.
• Customization: Option to show or hide these levels and customize their colors.
• Pre-Market High (PMH) and Low (PML):
• Purpose: Highlights the price range during the pre-market session, which can indicate potential breakout levels.
• Visualization: Plots horizontal lines at PMH and PML with labels.
• Customization: Option to show or hide these levels and customize their colors.
3. First 5-Minute Marker (F5H/F5L):
• Purpose: Marks the high or low of the first 5 minutes after the market opens, which is significant for intraday momentum.
• How it Works:
• If the first 5-minute high is above the Pre-Market High (PMH), an “F5H” label is placed at the first 5-minute high.
• If the first 5-minute high is below the PMH, an “F5L” label is placed at the first 5-minute low.
• Visualization: Labels are placed at the 9:35 AM candle (closing of the first 5 minutes), colored in purple by default.
• Customization: Option to show or hide the marker and adjust the marker color.
4. Swing Points Detection:
• Purpose: Identifies significant pivot points in price action to help recognize trends and reversals.
• How it Works: Uses left and right bars to detect pivot highs and lows, then determines if they are Higher Highs (HH), Lower Highs (LH), Higher Lows (HL), or Lower Lows (LL).
• Visualization: Plots small markers (circles) with labels (HH, LH, HL, LL) at the corresponding swing points.
• Customization: Adjust the number of left and right bars for pivot detection and the size of the markers.
5. Ranging Market Detection:
• Purpose: Identifies periods when the market is consolidating (moving sideways) within a defined price range.
• How it Works: Calculates the highest high and lowest low over a specified period and determines if the price range is within a set percentage threshold.
• Visualization: Draws a gray box around the price action during the ranging period and labels the high and low prices at the end of the range.
• Customization: Adjust the range detection period and threshold, as well as the box color.
6. Trend Coloring on Chart:
• Purpose: Provides a visual cue for the short-term trend based on a moving average.
• How it Works: Colors the candles green if the price is above the moving average and red if below.
• Customization: Set the moving average length and customize the uptrend and downtrend colors.
How to Use the Indicator
1. Adding the Indicator to Your Chart:
• Copy the Pine Script code provided and paste it into the Pine Script Editor on TradingView.
• Click “Add to Chart” to apply the indicator.
2. Configuring Inputs and Settings:
• Access Inputs:
• Click on the gear icon next to the indicator’s name on your chart to open the settings.
• Customize Key Levels:
• Show Pre-Market High/Low: Toggle on/off.
• Show Previous Day High/Low: Toggle on/off.
• Show First 5-Minute Marker: Toggle on/off.
• Set Trend Parameters:
• Trend Timeframe for Background: Choose the higher timeframe for trend analysis.
• Moving Average Length for Bar Color: Set the period for the moving average used in bar coloring.
• Adjust Ranging Market Detection:
• Range Detection Period: Specify the number of bars to consider for range detection.
• Range Threshold (%): Set the maximum percentage range for the market to be considered ranging.
• Customize Visuals:
• Colors: Adjust colors for trends, levels, markers, and ranging market boxes.
• Label Font Size: Choose the size of labels displayed on the chart.
• Level Line Width: Set the thickness of the lines for key levels.
3. Interpreting the Indicator:
• Background Shading:
• Green Shade: Higher timeframe is in an uptrend.
• Red Shade: Higher timeframe is in a downtrend.
• Gray Box: Market is ranging (sideways movement).
• Key Levels and Markers:
• PDH and PDL Lines: Represent resistance and support from the previous day.
• PMH and PML Lines: Indicate potential breakout levels based on pre-market activity.
• F5H/F5L Labels: Early indication of intraday momentum after market open.
• Swing Point Markers:
• HH (Higher High): Suggests bullish momentum.
• LH (Lower High): May indicate a potential bearish reversal.
• HL (Higher Low): Supports bullish continuation.
• LL (Lower Low): Indicates bearish momentum.
• Ranging Market Box:
• Gray Box Around Price Action: Highlights consolidation periods where breakouts may occur.
• Range High and Low Labels: Provide the upper and lower bounds of the consolidation zone.
4. Applying the Indicator to Your Trading Strategy:
• Trend Alignment:
• Use the higher timeframe trend shading to align your trades with the broader market direction.
• Key Levels Trading:
• Watch for price reactions at PDH, PDL, PMH, and PML for potential entry and exit points.
• Swing Points Analysis:
• Identify trend continuations or reversals by observing the sequence of HH, HL, LH, and LL.
• Ranging Market Strategies:
• During ranging periods, consider range-bound trading strategies or prepare for breakout trades when the price exits the range.
• Intraday Momentum:
• Use the F5H/F5L marker to gauge early market sentiment and potential intraday trends.
Practical Tips
• Adjust Settings to Your Trading Style:
• Tailor the indicator’s inputs to match your preferred timeframes and trading instruments.
• Combine with Other Indicators:
• Use in conjunction with volume indicators, oscillators, or other technical tools for additional confirmation.
• Backtesting:
• Apply the indicator to historical data to observe how it performs and refine your settings accordingly.
• Stay Updated on Market Conditions:
• Be aware of news events or economic releases that may impact market behavior and the effectiveness of technical levels.
Customization Options
• Time Zone Adjustment:
• The script uses “America/New_York” time zone by default. Adjust the timezone variable in the script if your chart operates in a different time zone.
var timezone = "Your/Timezone"
• Session Times:
• Modify the Regular Trading Session and Pre-Market Session times in the indicator settings to align with the trading hours of different markets or exchanges.
• Visual Preferences:
• Colors: Personalize the indicator’s colors to suit your visual preferences or to enhance visibility.
• Label Sizes: Adjust label sizes if you find them too intrusive or not prominent enough.
• Marker Sizes: Further reduce or enlarge the swing point markers by modifying the swing_marker_size variable.
Understanding the Indicator’s Logic
1. Higher Timeframe Trend Analysis:
• The indicator retrieves the closing prices of a higher timeframe using the request.security() function.
• It compares the current higher timeframe close with the previous one to determine the trend direction.
2. Key Level Calculation:
• Previous Day High/Low: Calculated by tracking the highest and lowest prices of the previous trading day.
• Pre-Market High/Low: Calculated by monitoring price action during the pre-market session.
3. First 5-Minute Marker Logic:
• At 9:35 AM (end of the first 5 minutes after market open), the indicator evaluates whether the first 5-minute high is above or below the PMH.
• It then places the appropriate label (F5H or F5L) on the chart.
4. Swing Points Detection:
• The script uses ta.pivothigh() and ta.pivotlow() functions to detect pivot points.
• It then determines the type of swing point based on comparisons with previous swings.
5. Ranging Market Detection:
• The indicator looks back over a specified number of bars to find the highest high and lowest low.
• It calculates the percentage difference between these two points.
• If the difference is below the set threshold, the market is considered to be ranging, and a box is drawn around the price action.
Limitations and Considerations
• Indicator Limitations:
• Maximum Boxes and Labels: Due to Pine Script limitations, there is a maximum number of boxes and labels that can be displayed simultaneously.
• Performance Impact: Adding multiple visual elements (boxes, labels, markers) can affect the performance of the script on lower-end devices or with large amounts of data.
• Market Conditions:
• False Signals: Like any technical tool, the indicator may produce false signals, especially during volatile or erratic market conditions.
• Not a Standalone Solution: This indicator should be used as part of a comprehensive trading strategy, including risk management and other forms of analysis.
Conclusion
The “Top-Down Trend and Key Levels with Swing Points” indicator is a versatile tool that integrates essential aspects of technical analysis into one script. By providing insights into higher timeframe trends, highlighting key price levels, detecting swing points, and identifying ranging markets, it equips traders with valuable information to make more informed trading decisions. Whether you are a day trader looking for intraday opportunities or a swing trader aiming to align with the broader trend, this indicator can enhance your chart analysis and trading strategy.
Disclaimer
Trading involves significant risk, and it’s important to understand that past performance is not indicative of future results. This indicator is a tool to assist in analysis and should not be solely relied upon for making trading decisions. Always conduct thorough research and consider seeking advice from financial professionals before engaging in trading activities.
Turtle Trade Channels Indicator with EMATurtle Trade Channels Indicator with EMA (TuTCI + EMA)
This custom indicator combines the classic Turtle Trading Channel strategy with an Exponential Moving Average (EMA) filter to provide clear entry and exit signals, as well as trend direction guidance.
Features:
Turtle Channels: The indicator calculates the upper and lower Turtle Trading Channels based on the highest and lowest values over a user-defined period ( Entry Length for the channel).
Entry/Exit Signals: Alerts you to potential buy and sell opportunities with visual signals on the chart.
Long Entry: When the price crosses above the upper channel.
Short Entry: When the price crosses below the lower channel.
Long Exit: When the price breaks below the exit line.
Short Exit: When the price breaks above the exit line.
EMA Filter: A 50-period Exponential Moving Average (EMA) is included to identify the overall trend. The background color turns green when the price is above the EMA (bullish trend) and red when the price is below the EMA (bearish trend).
Highlighter: Optional background highlighting for the most relevant signals, such as when the price crosses the upper or lower Turtle Channel. This feature helps to easily identify key market movements.
Visual Customization: Customize the EMA length, Entry/Exit lengths, and toggle signals and highlighting to suit your preferences.
How It Works:
The Turtle Trade Channels are designed to capture breakouts by identifying key price levels (highest high and lowest low) over a specified period. By combining this strategy with an EMA, the indicator ensures trades are aligned with the broader trend, increasing the probability of successful trades.
Uptrend: When the price is above the EMA, the indicator considers the trend to be bullish, and it highlights long entry signals.
Downtrend: When the price is below the EMA, the trend is considered bearish, and short entries are emphasized.
Customization:
Entry Length: Adjusts the period for calculating the Turtle Channel's entry levels.
Exit Length: Defines the period for calculating the exit levels.
EMA Length: The period for the Exponential Moving Average (default is set to 50).
Show Entry/Exit Signals: Toggle the visibility of entry/exit signals on the chart.
Highlighter On/Off: Toggle background highlighting for key signals.
This indicator is suitable for traders who follow trend-following strategies, particularly those influenced by the Turtle Trading methodology, and wish to use an EMA filter for better trend confirmation.
Use Cases:
Trend-following traders looking for clear entry/exit signals.
Breakout traders using the Turtle Trading concept to identify price breakouts.
Swing traders who want to incorporate trend analysis with price levels.
DTS- Dynamic Trend SignalDynamic Trend Signal
The Dynamic Trend Signal indicator is a powerful and highly customizable tool designed for traders who want clear and actionable signals to guide their trading decisions. This indicator leverages the relationship between two moving averages and the current price to provide concise buy/sell recommendations while visually enhancing your chart with professional-grade features.
Key Features:
Actionable Trading Signals:
STRONG BUY / NO SELL: When the price is above both moving averages.
BUY / NO SELL: When the price is above the longer moving average but below the shorter moving average.
NO BUY / SELL: When the price is below the longer moving average but above the shorter moving average.
STRONG SELL / NO BUY: When the price is below both moving averages.
Dynamic Signal Table:
Displays real-time trading signals in a convenient table format.
Automatically updates based on market conditions.
Customizable table position (top-left, top-right, bottom-left, or bottom-right).
Dynamic background and text colors for improved visibility:
Green shades for bullish signals.
Red shades for bearish signals.
Customizable Moving Averages:
Configure each moving average independently:
Choose between Simple Moving Average (SMA) and Exponential Moving Average (EMA).
Set unique lengths, colors, and line thickness for each average.
Default settings:
MA1: Short-term (8-period) with thickness 1.
MA2: Long-term (20-period) with thickness 2.
Optional Crossover Alerts:
Visual and textual alerts for moving average crossovers:
BUY: When the shorter moving average crosses above the longer moving average.
SELL: When the shorter moving average crosses below the longer moving average.
Crossover alerts are disabled by default but can be easily enabled in settings.
Ease of Use:
Intuitive interface with clean and professional visuals.
Fully customizable to fit any trading strategy or chart style.
How It Helps Traders:
The Dynamic Trend Signal simplifies market analysis by removing guesswork and focusing on clear, data-driven signals. Whether you're a beginner looking for straightforward guidance or an experienced trader seeking to enhance your strategy, this indicator provides:
Confidence in decision-making with clear buy/sell signals.
Customization to align with your unique trading approach.
Clarity through visually appealing, color-coded signals and alerts.
Ideal For:
Swing Traders
Day Traders
Trend Followers
Traders looking to integrate a dynamic, rule-based approach to their analysis.
How to Use:
Add the Dynamic Trend Signal indicator to your chart.
Adjust the moving average lengths, types, colors, and thickness to suit your trading strategy.
Monitor the signal table for actionable recommendations.
Optionally enable crossover alerts for real-time buy/sell notifications.
Unlock the power of clear and actionable trading signals with the Dynamic Trend Signal! Add it to your TradingView chart today and take your trading strategy to the next level.
ADM Indicator [CHE] Comprehensive Description of the Three Market Phases for TradingView
Introduction
Financial markets often exhibit patterns that reflect the collective behavior of participants. Recognizing these patterns can provide traders with valuable insights into potential future price movements. The ADM Indicator is designed to help traders identify and capitalize on these patterns by detecting three primary market phases:
1. Accumulation Phase
2. Manipulation Phase
3. Distribution Phase
This indicator places labels on the chart to signify these phases, aiding traders in making informed decisions. Below is an in-depth explanation of each phase, including how the ADM Indicator detects them.
1. Accumulation Phase
Definition
The Accumulation Phase is a period where informed investors or institutions discreetly purchase assets before a potential price increase. During this phase, the price typically moves within a confined range between established highs and lows.
Characteristics
- Price Range Bound: The asset's price stays within the previous high and low after a timeframe change.
- Low Volatility: Minimal price movement indicates a balance between buyers and sellers.
- Steady Volume: Trading volume may remain relatively constant or show slight increases.
- Market Sentiment: General market interest is low, as the accumulation is not yet apparent to the broader market.
Detection with ADM Indicator
- Criteria: An accumulation is detected when the price remains within the previous high and low after a timeframe change.
- Indicator Action: At the end of the period, if accumulation has occurred, the indicator places a label "Accumulation" on the chart.
- Visual Cues: A yellow semi-transparent background highlights the accumulation phase, enhancing visual recognition.
Implications for Traders
- Entry Opportunity: Consider preparing for potential long positions before a possible upward move.
- Risk Management: Use tight stop-loss orders below the support level due to the defined trading range.
2. Manipulation Phase
Definition
The Manipulation Phase, also known as the Shakeout Phase, occurs when dominant market players intentionally move the price to trigger stop-loss orders and create panic among less-informed traders. This action generates liquidity and better entry prices for large positions.
Characteristics
- False Breakouts: The price moves above the previous high or below the previous low but quickly reverses.
- Increased Volatility: Sharp price movements occur without fundamental reasons.
- Stop-Loss Hunting: The price targets common stop-loss areas, triggering them before reversing.
- Emotional Trading: Retail traders may react impulsively, leading to poor trading decisions.
Detection with ADM Indicator
- Manipulation Up:
- Criteria: Detected when the price rises above the previous high and then falls back below it.
- Indicator Action: Places a label "Manipulation Up" on the chart at the point of detection.
- Manipulation Down:
- Criteria: Detected when the price falls below the previous low and then rises back above it.
- Indicator Action: Places a label "Manipulation Down" on the chart at the point of detection.
- Visual Cues:
- Manipulation Up: Blue background highlights the phase.
- Manipulation Down: Orange background highlights the phase.
Implications for Traders
- Caution Advised: Be wary of false signals and avoid overreacting to sudden price changes.
- Preparation for Next Phase: Use this phase to anticipate potential distribution and adjust strategies accordingly.
3. Distribution Phase
Definition
The Distribution Phase occurs when the institutions or informed investors who accumulated positions start selling to the general market at higher prices. This phase often follows a Manipulation Phase and may signal an impending trend reversal.
Characteristics
- Price Reversal: The price moves in the opposite direction of the prior manipulation.
- High Trading Volume: Increased selling activity as large players offload positions.
- Trend Weakening: The previous trend loses momentum, indicating a potential shift.
- Market Sentiment Shift: Optimism fades, and uncertainty or pessimism may emerge.
Detection with ADM Indicator
- Distribution Up:
- Criteria: Detected after a verified Manipulation Up when the price subsequently falls below the previous low.
- Indicator Action: Places a label "Distribution Up" on the chart.
- Distribution Down:
- Criteria: Detected after a verified Manipulation Down when the price subsequently rises above the previous high.
- Indicator Action: Places a label "Distribution Down" on the chart.
- Visual Cues:
- Distribution Up: Purple background highlights the phase.
- Distribution Down: Maroon background highlights the phase.
Implications for Traders
- Exit Signals: Consider closing long positions if in a Distribution Up phase.
- Short Selling Opportunities: Potential to enter short positions anticipating a downtrend.
Using the ADM Indicator on TradingView
Indicator Overview
The ADM Indicator automates the detection of Accumulation, Manipulation, and Distribution phases by analyzing price movements relative to previous highs and lows on a selected timeframe. It provides visual cues and labels on the chart, helping traders quickly identify the current market phase.
Features
- Multi-Timeframe Analysis: Choose from auto, multiplier, or manual timeframe settings.
- Visual Labels: Clear labeling of market phases directly on the chart.
- Background Highlighting: Distinct background colors for each phase.
- Customizable Settings: Adjust colors, styles, and display options.
- Period Separators: Optional separators delineate different timeframes.
Interpreting the Indicator
1. Accumulation Phase
- Detection: Price stays within the previous high and low after a timeframe change.
- Label: "Accumulation" placed at the period's end if detected.
- Background: Yellow semi-transparent color.
- Action: Prepare for potential long positions.
2. Manipulation Phase
- Detection:
- Manipulation Up: Price rises above previous high and then falls back below.
- Manipulation Down: Price falls below previous low and then rises back above.
- Labels: "Manipulation Up" or "Manipulation Down" placed at detection.
- Background:
- Manipulation Up: Blue color.
- Manipulation Down: Orange color.
- Action: Exercise caution; avoid impulsive trades.
3. Distribution Phase
- Detection:
- Distribution Up: After a Manipulation Up, price falls below previous low.
- Distribution Down: After a Manipulation Down, price rises above previous high.
- Labels: "Distribution Up" or "Distribution Down" placed at detection.
- Background:
- Distribution Up: Purple color.
- Distribution Down: Maroon color.
- Action: Consider exiting positions or entering counter-trend trades.
Configuring the Indicator
- Timeframe Type: Select Auto, Multiplier, or Manual for analysis timeframe.
- Multiplier: Set a custom multiplier when using "Multiplier" type.
- Manual Resolution: Define a specific timeframe with "Manual" option.
- Separator Settings: Customize period separators for visual clarity.
- Label Display Options: Choose to display all labels or only the most recent.
- Visualization Settings: Adjust colors and styles for personal preference.
Practical Tips
- Combine with Other Analysis Tools: Use alongside volume indicators, trend lines, or other technical tools.
- Backtesting: Review historical data to understand how the indicator signals would have impacted past trades.
- Stay Informed: Keep abreast of market news that might affect price movements beyond technical analysis.
- Risk Management: Always employ stop-loss orders and position sizing strategies.
Conclusion
The ADM Indicator is a valuable tool for traders seeking to understand and leverage market phases. By detecting Accumulation, Manipulation, and Distribution phases through specific price action criteria, it provides actionable insights into market dynamics.
Understanding the precise conditions under which each phase is detected empowers traders to make more informed decisions. Whether preparing for potential breakouts during accumulation, exercising caution during manipulation, or adjusting positions during distribution, the ADM Indicator aids in navigating the complexities of the financial markets.
Disclaimer:
The content provided, including all code and materials, is strictly for educational and informational purposes only. It is not intended as, and should not be interpreted as, financial advice, a recommendation to buy or sell any financial instrument, or an offer of any financial product or service. All strategies, tools, and examples discussed are provided for illustrative purposes to demonstrate coding techniques and the functionality of Pine Script within a trading context.
Any results from strategies or tools provided are hypothetical, and past performance is not indicative of future results. Trading and investing involve high risk, including the potential loss of principal, and may not be suitable for all individuals. Before making any trading decisions, please consult with a qualified financial professional to understand the risks involved.
By using this script, you acknowledge and agree that any trading decisions are made solely at your discretion and risk.
This indicator is inspired by the Super 6x Indicators: RSI, MACD, Stochastic, Loxxer, CCI, and Velocity . A special thanks to Loxx for their relentless effort, creativity, and contributions to the TradingView community, which served as a foundation for this work.
Best regards Chervolino
Overview of the Timeframe Levels in the `autotimeframe()` Function
The `autotimeframe()` function automatically adjusts the higher timeframe based on the current chart timeframe. Here are the specific timeframe levels used in the function:
- Current Timeframe ≤ 1 Minute
→ Higher Timeframe: 240 Minutes (4 Hours)
- Current Timeframe ≤ 5 Minutes
→ Higher Timeframe: 1 Day
- Current Timeframe ≤ 1 Hour
→ Higher Timeframe: 3 Days
- Current Timeframe ≤ 4 Hours
→ Higher Timeframe: 7 Days
- Current Timeframe ≤ 12 Hours
→ Higher Timeframe: 1 Month
- Current Timeframe ≤ 1 Day
→ Higher Timeframe: 3 Months
- Current Timeframe ≤ 7 Days
→ Higher Timeframe: 6 Months
- For All Higher Timeframes (over 7 Days)
→ Higher Timeframe: 12 Months
Summary:
The function assigns a corresponding higher timeframe based on the current timeframe to optimize the analysis:
- 1 Minute or Less → 4 Hours
- Up to 5 Minutes → 1 Day
- Up to 1 Hour → 3 Days
- Up to 4 Hours → 7 Days
- Up to 12 Hours → 1 Month
- Up to 1 Day → 3 Months
- Up to 7 Days → 6 Months
- Over 7 Days → 12 Months
This automated adjustment ensures that the indicator works effectively across different chart timeframes without requiring manual changes.
Harmonic Pattern Detector (75 patterns)Harmonic Pattern Detector offers a record amount of "Harmonic Patterns" in one script, with 75 different patterns detected, together with up to 99 different swing lengths.
🔶 USAGE
Harmonic Patterns are detected from several different ZigZag lines, derived from Swings with different lengths (shorter - longer term)
Depending on the settings ' Minimum/Maximum Swing Length ', the user will see more or less patterns from shorter and/or longer-term swing points.
🔹 Fibonacci Ratio
Certain patterns have only one ratio for a specific retrace/extension instead of one upper and one lower limit. In this case, we add a ' Tolerance ', which adds a percentage tolerance below/above the ratio, creating two limits.
A higher number may show more patterns but may become less valid.
Hoovering over points B, C, and D will show a tooltip with the concerning limits; adjusted limits will be seen if applicable.
Tooltips in settings will also show which patterns the Fibonacci Ratio applies to.
🔹 Triangle Area Ratio
Using Heron's formula , the triangle area is calculated after the X-Y axis is normalized.
Users can filter patterns based on the ratio of the smallest triangle to the largest triangle.
A lower Triangle Area Ratio number leads to more symmetrical patterns but may appear less frequently.
🔶 DETAILS
Harmonic patterns are based on geometric patterns, where the retracement/extension of a swing point must be located between specific Fibonacci ratios of the previous swing/leg. Different Harmonic Patterns require unique ratios to become valid patterns.
In the above example there is a valid 'Max Butterfly' pattern where:
Point B is located between 0.618 - 0.886 retracement level of the X-A leg
Point C is located between 0.382 - 0.886 retracement level of the A-B leg
Point D is located between 1.272 - 2.618 extension level of the B-C leg
Point D is located between 1.272 - 1.618 extension level of the X-A leg
Harmonic Pattern Detector uses ZigZag lines, where swing highs and swing lows alternate. Each ZigZag line is checked for valid Harmonic Patterns . When multiple types of Harmonic Patterns are valid for the same sequence, the pattern will be named after the first one found.
Different swing lengths form different ZigZag lines.
By evaluating different ZigZag lines (up to 99!), shorter—and longer-term patterns can be drawn on the same chart.
🔹 Blocks
The patterns are organized into blocks that can be toggled on or off with a single click.
When a block is enabled, the user can still select which specific patterns within that block are enabled or disabled.
🔹 Visuals
Besides color settings, labels can show pattern names or arrows at point D of the pattern.
Note this will happen 1 bar after validation because one extra bar is needed for confirmation.
An option is included to show only arrows without the patterns.
🔹 Updated Patterns
When a Swing Low is followed by a lower low or a Swing High followed by a higher high , triggering a pattern identical to a previous one except with a different point D, the pattern will be updated. The previous C-D line will be visible as a dashed line to highlight the event. Only the last dashed line is shown when this happens more than once.
🔹 Optimization
The script only verifies the last leg in the initial phase, significantly reducing the time spent on pattern validation. If this leg doesn't align with a potential Harmonic Pattern , the pattern is immediately disregarded. In the subsequent phase, the remaining patterns are quickly scrutinized to ensure the next leg is valid. This efficient process continues, with only valid patterns progressing to the next phase until all sequences have been thoroughly examined.
This process can check up to 99 ZigZag lines for 75 different Harmonic Patterns , showcasing its high capacity and versatility.
🔹 Ratios
The following table shows the different ratios used for each Harmonic Pattern .
' min ' and ' max ' are used when only one limit is provided instead of 2. This limit is given a percentage tolerance above and below, customizable by the setting ' Tolerance - Fibonacci Ratio '.
For example a ratio of 0.618 with a tolerance of 1% would result in:
an upper limit of 0.624
a lower limit of 0.612
|-------------------|------------------------|------------------------|-----------------------|-----------------------|
| NAME PATTERN | BCD (BD) | ABC (AC) | XAB (XB) | XAD (XD) |
| | min max | min max | min max | min max |
|-------------------|------------------------|------------------------|-----------------------|-----------------------|
| 'ABCD' | 1.272 - 1.618 | 0.618 - 0.786 | | |
| '5-0' | 0.5 *min - 0.5 *max | 1.618 - 2.24 | 1.13 - 1.618 | |
| 'Max Gartley' | 1.128 - 2.236 | 0.382 - 0.886 | 0.382 - 0.618 | 0.618 - 0.786 |
| 'Gartley' | 1.272 - 1.618 | 0.382 - 0.886 | 0.618*min - 0.618*max | 0.786*min - 0.786*max |
| 'A Gartley' | 1.618*min - 1.618*max | 1.128 - 2.618 | 0.618 - 0.786 | 1.272*min - 1.272*max |
| 'NN Gartley' | 1.128 - 1.618 | 0.382 - 0.886 | 0.618*min - 0.618*max | 0.786*min - 0.786*max |
| 'NN A Gartley' | 1.618*min - 1.618*max | 1.128 - 2.618 | 0.618 - 0.786 | 1.272*min - 1.272*max |
| 'Bat' | 1.618 - 2.618 | 0.382 - 0.886 | 0.382 - 0.5 | 0.886*min - 0.886*max |
| 'Alt Bat' | 2.0 - 3.618 | 0.382 - 0.886 | 0.382*min - 0.382*max | 1.128*min - 1.128*max |
| 'A Bat' | 2.0 - 2.618 | 1.128 - 2.618 | 0.382 - 0.618 | 1.128*min - 1.128*max |
| 'Max Bat' | 1.272 - 2.618 | 0.382 - 0.886 | 0.382 - 0.618 | 0.886*min - 0.886*max |
| 'NN Bat' | 1.618 - 2.618 | 0.382 - 0.886 | 0.382 - 0.5 | 0.886*min - 0.886*max |
| 'NN Alt Bat' | 2.0 - 4.236 | 0.382 - 0.886 | 0.382*min - 0.382*max | 1.128*min - 1.128*max |
| 'NN A Bat' | 2.0 - 2.618 | 1.128 - 2.618 | 0.382 - 0.618 | 1.128*min - 1.128*max |
| 'NN A Alt Bat' | 2.618*min - 2.618*max | 1.128 - 2.618 | 0.236 - 0.5 | 0.886*min - 0.886*max |
| 'Butterfly' | 1.618 - 2.618 | 0.382 - 0.886 | 0.786*min - 0.786*max | 1.272 - 1.618 |
| 'Max Butterfly' | 1.272 - 2.618 | 0.382 - 0.886 | 0.618 - 0.886 | 1.272 - 1.618 |
| 'Butterfly 113' | 1.128 - 1.618 | 0.618 - 1.0 | 0.786 - 1.0 | 1.128*min - 1.128*max |
| 'A Butterfly' | 1.272*min - 1.272*max | 1.128 - 2.618 | 0.382 - 0.618 | 0.618 - 0.786 |
| 'Crab' | 2.24 - 3.618 | 0.382 - 0.886 | 0.382 - 0.618 | 1.618*min - 1.618*max |
| 'Deep Crab' | 2.618 - 3.618 | 0.382 - 0.886 | 0.886*min - 0.886*max | 1.618*min - 1.618*max |
| 'A Crab' | 1.618 - 2.618 | 1.128 - 2.618 | 0.276 - 0.446 | 0.618*min - 0.618*max |
| 'NN Crab' | 2.236 - 4.236 | 0.382 - 0.886 | 0.382 - 0.618 | 1.618*min - 1.618*max |
| 'NN Deep Crab' | 2.618 - 4.236 | 0.382 - 0.886 | 0.886*min - 0.886*max | 1.618*min - 1.618*max |
| 'NN A Crab' | 1.128 - 2.618 | 1.128 - 2.618 | 0.236 - 0.447 | 0.618*min - 0.618*max |
| 'NN A Deep Crab' | 1.128*min - 1.128*max | 1.128 - 2.618 | 0.236 - 0.382 | 0.618*min - 0.618*max |
| 'Cypher' | 1.272 - 2.00 | 1.13 - 1.414 | 0.382 - 0.618 | 0.786*min - 0.786*max |
| 'New Cypher' | 1.272 - 2.00 | 1.414 - 2.14 | 0.382 - 0.618 | 0.786*min - 0.786*max |
| 'Anti New Cypher' | 1.618 - 2.618 | 0.467 - 0.707 | 0.5 - 0.786 | 1.272*min - 1.272*max |
| 'Shark 1' | 1.618 - 2.236 | 1.128 - 1.618 | 0.382 - 0.618 | 0.886*min - 0.886*max |
| 'Shark 1 Alt' | 1.618 - 2.618 | 0.618 - 0.886 | 0.446 - 0.618 | 1.128*min - 1.128*max |
| 'Shark 2' | 1.618 - 2.236 | 1.128 - 1.618 | 0.382 - 0.618 | 1.128*min - 1.128*max |
| 'Shark 2 Alt' | 1.618 - 2.618 | 0.618 - 0.886 | 0.446 - 0.618 | 0.886*min - 0.886*max |
| 'Leonardo' | 1.128 - 2.618 | 0.382 - 0.886 | 0.5*min - 0.5*max | 0.786*min - 0.786*max |
| 'NN A Leonardo' | 2.0*min - 2.0*max | 1.128 - 2.618 | 0.382 - 0.886 | 1.272*min - 1.272*max |
| 'Nen Star' | 1.272 - 2.0 | 1.414 - 2.14 | 0.382 - 0.618 | 1.272*min - 1.272*max |
| 'Anti Nen Star' | 1.618 - 2.618 | 0.467 - 0.707 | 0.5 - 0.786 | 0.786*min - 0.786*max |
| '3 Drives' | 1.272 - 1.618 | 0.618 - 0.786 | 1.272 - 1.618 | 1.618 - 2.618 |
| 'A 3 Drives' | 0.618 - 0.786 | 1.272 - 1.618 | 0.618 - 0.786 | 0.13 - 0.886 |
| '121' | 0.382 - 0.786 | 1.128 - 3.618 | 0.5 - 0.786 | 0.382 - 0.786 |
| 'A 121' | 1.272 - 2.0 | 0.5 - 0.786 | 1.272 - 2.0 | 1.272 - 2.618 |
| '121 BG' | 0.618 - 0.707 | 1.128 - 1.733 | 0.5 - 0.577 | 0.447 - 0.786 |
| 'Black Swan' | 1.128 - 2.0 | 0.236 - 0.5 | 1.382 - 2.618 | 1.128 - 2.618 |
| 'White Swan' | 0.5 - 0.886 | 2.0 - 4.237 | 0.382 - 0.786 | 0.238 - 0.886 |
| 'NN White Swan' | 0.5 - 0.886 | 2.0 - 4.236 | 0.382 - 0.724 | 0.382 - 0.886 |
| 'Sea Pony' | 1.618 - 2.618 | 0.382 - 0.5 | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Navarro 200' | 0.886 - 3.618 | 0.886 - 1.128 | 0.382 - 0.786 | 0.886 - 1.128 |
| 'May-00' | 0.5 - 0.618 | 1.618 - 2.236 | 1.128 - 1.618 | 0.5 - 0.618 |
| 'SNORM' | 0.9 - 1.1 | 0.9 - 1.1 | 0.9 - 1.1 | 0.618 - 1.618 |
| 'COL Poruchik' | 1.0 *min - 1.0 *max | 0.382 - 2.618 | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Henry – David' | 0.618 - 0.886 | 0.44 - 0.618 | 0.128 - 2.0 | 0.618 - 1.618 |
| 'DAVID VM 1' | 1.618 - 1.618 | 0.382*min - 0.382*max | 0.128 - 1.618 | 0.618 - 3.618 |
| 'DAVID VM 2' | 1.618 - 1.618 | 0.382*min - 0.382*max | 1.618 - 3.618 | 0.618 - 7.618 |
| 'Partizan' | 1.618*min - 1.618*max | 0.382*min - 0.382*max | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Partizan 2' | 1.618 - 2.236 | 1.128 - 1.618 | 0.128 - 3.618 | 1.618 - 3.618 |
| 'Partizan 2.1' | 1.618*min - 1.618*max | 1.128*min - 1.128*max | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Partizan 2.2' | 2.236*min - 2.236*max | 1.128*min - 1.128*max | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Partizan 2.3' | 1.618*min - 1.618*max | 0.618 - 1.618 | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Partizan 2.4' | 2.236*min - 2.236*max | 1.618*min - 1.618*max | 0.128 - 3.618 | 0.618 - 3.618 |
| 'TOTAL' | 1.272 - 3.618 | 0.382 - 2.618 | 0.276 - 0.786 | 0.618 - 1.618 |
| 'TOTAL NN' | 1.272 - 4.236 | 0.382 - 2.618 | 0.236 - 0.786 | 0.618 - 1.618 |
| 'TOTAL 1' | 1.272 - 2.618 | 0.382 - 0.886 | 0.382 - 0.786 | 0.786 - 0.886 |
| 'TOTAL 2' | 1.618 - 3.618 | 0.382 - 0.886 | 0.382 - 0.786 | 1.128 - 1.618 |
| 'TOTNN 2NN' | 1.618 - 4.236 | 0.382 - 0.886 | 0.382 - 0.786 | 1.128 - 1.618 |
| 'TOTAL 3' | 1.272 - 2.618 | 1.128 - 2.618 | 0.276 - 0.618 | 0.618 - 0.886 |
| 'TOTNN 3NN' | 1.272 - 2.618 | 1.128 - 2.618 | 0.236 - 0.618 | 0.618 - 0.886 |
| 'TOTAL 4' | 1.618 - 2.618 | 1.128 - 2.618 | 0.382 - 0.786 | 1.128 - 1.272 |
| 'BG 1' | 2.618*min - 2.618*max | 0.382*min - 0.382*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 2' | 2.237*min - 2.237*max | 0.447*min - 0.447*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 3' | 2.0 *min - 2.0 *max | 0.5 *min - 0.5 *max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 4' | 1.618*min - 1.618*max | 0.618*min - 0.618*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 5' | 1.414*min - 1.414*max | 0.707*min - 0.707*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 6' | 1.272*min - 1.272*max | 0.786*min - 0.786*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 7' | 1.171*min - 1.171*max | 0.854*min - 0.854*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 8' | 1.128*min - 1.128*max | 0.886*min - 0.886*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
|-------------------|------------------------|------------------------|-----------------------|-----------------------|
🔶 SETTINGS
🔹 Swings
Minimum Swing Length: Minimum length used for the swing detection.
Maximum Swing Length: Maximum length used for the swing detection.
🔹 Patterns
Toggle Pattern Block
Toggle separate pattern in each Pattern Block
🔹 Tolerance
Fibonacci Ratio: Adds a percentage tolerance below/above the ratio when only one ratio applies, creating two limits.
Triangle Area Ratio: Filters patterns based on the ratio of the smallest triangle to the largest triangle.
🔹 Display
Labels: Display Pattern Names, Arrows or nothing
Patterns: Display or not
Last Line: Display previous C-D line when updated
🔹 Style
Colors: Pattern Lines/Names/Arrows - background color of patterns
Text Size: Text Size of Pattern Names/Arrows
🔹 Calculation
Calculated Bars: Allows the usage of fewer bars for performance/speed improvement
Supertrend and MACD strategyThe Supertrend and MACD Strategy is a comprehensive trading approach designed to capitalize on market trends by using a combination of the Supertrend indicator, the Exponential Moving Average (EMA), and the Moving Average Convergence Divergence (MACD). This strategy aims to identify optimal entry and exit points for both long and short trades, while incorporating strict risk management rules.
Indicators Used:
Supertrend: This indicator is used to identify the overall trend direction. It provides clear signals for trend reversals, helping traders to enter trades in the direction of the prevailing trend.
200-period EMA: This long-term moving average is used to determine the primary trend direction. The strategy only takes long trades when the price is above the 200 EMA and short trades when the price is below it.
MACD: The MACD is used to gauge the momentum and confirm the signals provided by the Supertrend and EMA. It consists of the MACD line, the signal line, and the histogram.
Entry Conditions:
Long Entry:
The Supertrend indicator shows an uptrend (direction > 0).
The MACD line is above the signal line (macd > signal).
The price is above the 200-period EMA (close > ema200).
Short Entry:
The Supertrend indicator shows a downtrend (direction < 0).
The MACD line is below the signal line (macd < signal).
The price is below the 200-period EMA (close < ema200).
Exit Conditions:
Long Exit:
Exit the long position when the MACD line crosses below the signal line (ta.crossunder(macd, signal)).
Set a stop loss (SL) below the lowest low of the last 10 periods (lowestLow - 1).
Short Exit:
Exit the short position when the MACD line crosses above the signal line (ta.crossover(macd, signal)).
Set a stop loss (SL) above the highest high of the last 10 periods (highestHigh + 1).
Risk Management:
The strategy ensures that no new positions are opened if there is already an open trade, preventing overexposure in the market.
Alerts:
Alerts are set to notify traders when the MACD crosses the signal line, providing timely updates for potential exit points.
Weekly Bullish Pattern DetectorThis script is a TradingView Pine Script designed to detect a specific bullish candlestick pattern on the weekly chart. Below is a detailed breakdown of its components:
1. Purpose
The script identifies a four-candle bullish pattern where:
The first candle is a long green (bullish) candlestick.
The second and third candles are small-bodied candles, signifying consolidation or indecision.
The fourth candle is another long green (bullish) candlestick.
When this pattern is detected, the script:
Marks the chart with a visual label.
Optionally triggers an alert to notify the trader.
2. Key Features
Overlay on Chart:
indicator("Weekly Bullish Pattern Detector", overlay=true) ensures the indicator draws directly on the price chart.
Customizable Inputs:
length (Body Size Threshold):
Defines the minimum percentage of the total range that qualifies as a "long" candle body (default: 14%).
smallCandleThreshold (Small Candle Body Threshold):
Defines the maximum percentage of the total range that qualifies as a "small" candle body (default: 10%).
Candlestick Property Calculations:
bodySize: Measures the absolute size of the candle body (close - open).
totalRange: Measures the total high-to-low range of the candle.
bodyPercentage: Calculates the proportion of the body size relative to the total range ((bodySize / totalRange) * 100).
isGreen and isRed: Identify bullish (green) or bearish (red) candles based on their open and close prices.
Pattern Conditions:
longGreenCandle:
Checks if the candle is bullish (isGreen) and its body percentage exceeds the defined length threshold.
smallCandle:
Identifies small-bodied candles where the body percentage is below the smallCandleThreshold.
consolidation:
Confirms the second and third candles are both small-bodied (smallCandle and smallCandle ).
Bullish Pattern Detection:
bullishPattern:
Detects the full four-candle sequence:
The first candle (longGreenCandle ) is a long green candle.
The second and third candles (consolidation) are small-bodied.
The fourth candle (longGreenCandle) is another long green candle.
Visualization:
plotshape(bullishPattern):
Draws a green label ("Pattern") below the price chart whenever the pattern is detected.
Alert Notification:
alertcondition(bullishPattern):
Sends an alert with the message "Bullish Pattern Detected on Weekly Chart" whenever the pattern is found.
3. How It Works
Evaluates Candle Properties:
For each weekly candle, the script calculates its size, range, and body percentage.
Identifies Each Component of the Pattern:
Checks for a long green candle (first and fourth).
Verifies the presence of two small-bodied candles (second and third).
Detects and Marks the Pattern:
Confirms the sequence and marks the chart with a label if the pattern is complete.
Sends Alerts:
Notifies the trader when the pattern is detected.
4. Use Cases
This script is ideal for:
Swing Traders:
Spotting weekly patterns that indicate potential bullish continuations.
Breakout Traders:
Identifying consolidation zones followed by upward momentum.
Pattern Recognition:
Automatically detecting a commonly used bullish formation.
5. Key Considerations
Timeframe: Works best on weekly charts.
Customization: The thresholds for "long" and "small" candles can be adjusted to suit different markets or volatility levels.
Limitations:
It doesn't confirm the pattern's success; further analysis (e.g., volume, support/resistance levels) may be required for validation
CandelaCharts - Opening Gap (OG) 📝 Overview
The ICT (Inner Circle Trader) Opening Gap represents the price difference between the previous trading session's closing price and the current session's opening price. This gap serves as a key indicator of market sentiment and can offer valuable clues about the market's potential direction throughout the trading day.
A bullish Opening Gap forms when the market opens higher than the previous session's close, signaling strong buying interest or positive sentiment heading into the new session
A bearish Opening Gap occurs when the market opens lower than the previous session's close, reflecting heightened selling pressure or negative sentiment among market participants
The Opening Gap is significant as it often establishes the market's tone for the trading session. Accurately interpreting this gap enables traders to make informed decisions about when to enter or exit positions. Serving as a gauge of market strength or weakness, the gap provides a clear signal of whether the market is likely to trend upward or downward during the day.
📦 Features
MTF
Mitigation
Consequent Encroachment
Threshold
Hide Overlap
Advanced Styling
⚙️ Settings
Show: Controls whether FVGs are displayed on the chart.
Show Last: Sets the number of FVGs you want to display.
Length: Determines the length of each FVG.
Mitigation: Highlights when an FVG has been touched, using a different color without marking it as invalid.
Timeframe: Specifies the timeframe used to detect FVGs.
Threshold: Sets the minimum gap size required for FVG detection on the chart.
Show Mid-Line: Configures the midpoint line's width and style within the FVG. (Consequent Encroachment - CE)
Show Border: Defines the border width and line style of the FVG.
Hide Overlap: Removes overlapping FVGs from view.
Extend: Extends the FVG length to the current candle.
Elongate: Fully extends the FVG length to the right side of the chart.
⚡️ Showcase
Simple
Mitigated
Bordered
Consequent Encroachment
Extended
🚨 Alerts
This script provides alert options for all signals.
Bearish Signal
A bearish signal is triggered when the price opens lower than the previous session's close.
Bullish Signal
A bullish signal is triggered when the price opens higher than the previous session's close.
⚠️ Disclaimer
Trading involves significant risk, and many participants may incur losses. The content on this site is not intended as financial advice and should not be interpreted as such. Decisions to buy, sell, hold, or trade securities, commodities, or other financial instruments carry inherent risks and are best made with guidance from qualified financial professionals. Past performance is not indicative of future results.
Daily Moving Averages on Intraday ChartsThis moving average script displays the chosen 5 daily moving averages on intraday (minute) charts. It automatically adjusts the intervals to show the proper moving averages.
In a day there are 375 trading minutes from 9:15 AM to 3:30PM in Indian market. In 5 days there are 1875 minutes. For other markets adjust this data accordingly.
If 5DMA is chosen on a five minute chart the moving average will use 375 interval values (1875/5 = 375) of 5minute chart to calculate moving average. Same 5DMA on 25minute chart will use 75 interval values (1875/25 = 75).
On a 1minute chart the 5DMA plot will use 1875 interval values to arrive at the moving average.
Since tradingview only allows 5000 intervals to lookback, if a particular daily moving average on intraday chart needs more than 5000 candle data it won't be shown. E.g 200DMA on 5minute chart needs 15000 candles data to plot a correct 200DMA line. Anything less than that would give incorrect moving average and hence it won't be shown on the chart.
MA crossover for the first two MAs is provided. If you want to use that option, make sure you give the moving averages in the correct order.
You can enhance this script and use it in any way you please as long as you make it opensource on TradingView. Feedback and improvement suggestions are welcome.
Special thanks to @JohnMuchow for his moving averages script for all timeframes.
