Supply Demand by WowTradingInfoThis indicator identifies supply and demand zones based on price action, which is a crucial concept for technical analysis. Supply zones represent areas where the price has historically shown selling pressure, while demand zones show areas with strong buying interest.
Explanation:
Rally-Base-Rally (RBR):
A rally is defined as a price movement where the percentage increase between the current high and the previous low.
A base is defined as a period of consolidation where price stays within a narrow range, with low volatility.
A RBR pattern is detected when a rally occurs, followed by a base, and then another rally.
Drop-Base-Drop (DBD):
A drop is identified when the price decrease between the current low and the previous high.
A DBD pattern is detected when a drop occurs, followed by a base, and then another drop.
Zone Marking:
RBR Zones are drawn with repaint the candles color as yellow (where buyers are likely to step in).
DBD Zones are drawn with repaint the candles color as pink (where sellers are likely to step in).
Example Use Case:
Rally-Base-Rally: When you see a yellow zone, it suggests that price rallied, consolidated, and is likely to rally again. It can be used as a potential demand zone.
Drop-Base-Drop: pink zones indicate that price dropped, consolidated, and may drop again. It can be used as a potential supply zone.
This script will help you automatically detect and visualize RBR and DBD patterns on your TradingView chart. These zones can provide valuable insights into areas where price may react due to past buying or selling pressure.
서포트 앤 리지스턴스
Support and Resistance DynamicThis indicator is designed to plot horizontal lines on significant Support and Resistance based on custom user-defined lookback periods. It helps traders identify key levels of support and resistance, improving their ability to detect potential trend reversals or breakout zones.
Key Features:
1. Custom Number of Support and Resistance Lines:
- The script allows users to independently control the number of horizontal lines for Support and Resistance, helping to focus on the most important levels.
2. Adjustable Lookback Period
- Customize the lookback periods for detecting support and resistance, giving you the flexibility to capture different swing points in various market conditions.
3. Minimum Difference Filter:
- The script includes a customizable minimum difference percentage filter to ensure only significant pivots are plotted, avoiding clutter and focusing on more meaningful levels.
4. Automatic Line Extension:
- Pivot high and low lines automatically extend to the right, clearly marking key levels until they are broken or surpassed by price action.
This tool is ideal for technical traders who rely on support and resistance zones for making trading decisions. Whether you are swing trading, day trading, or scalping, these key levels can help enhance your chart analysis.
How to Use:
- Customize the number of support and resistance lines to suit your strategy.
- Adjust the lookback settings to match your timeframe or market conditions.
- Fine-tune the minimum difference percentage to filter out noise and focus on stronger support and resistance.
This script provides a dynamic and customizable way to visualize support and resistance, helping you spot key turning points and make informed trading decisions.
Benito CL Levels by Melon
Code Summary:
The script plots horizontal lines at .00, .25, .50, and .75 increments around the current price on the chart. It calculates these levels by taking the integer base of the price and adding the specified increments. The user can customize the color, thickness, and style (solid, dashed, dotted) for each level individually. The script plots a specified number of lines above and below the current price, extending them across the chart to provide clear reference points for potential support and resistance levels.
Key Trading Insight:
Focus on the .00, .25, .50, and .75 levels. A failure to reclaim the .50 level often indicates a lack of momentum, leading to a potential breakdown towards the .00 or .25 levels. These levels serve as psychological or technical support and resistance points where price reactions are likely. Monitoring price action around these levels can provide useful signals for potential trend continuation or reversal.
Thrax - Intraday Market Pressure ZonesTHRAX - INTRADAY MARKET PRESSURE ZONES
This indicator identifies potential support and resistance zones based on areas of significant market pressure. It dynamically plots these zones and adjusts their visibility based on real-time price action and user-defined thresholds. The indicator is useful for traders seeking to understand intraday market pressure, visualize zones of potential price reversals, and analyze volume imbalances at critical levels.
1. Support/Resistance Zones: Wherever the price retraces significantly from its high a support zone is drawn and when it retraces significantly from it low a resistance zone is drawn. The significant retracing is measured by the wick threshold percentage. For instance, if set to 75%, it implies price retracement of 75% either from high or from low for a particular candel
Volume delat: Displays volume delta information where the zones are formed. This can be used by trader to consider only those zones where delta is significant.
2. Breakout Detection: Monitors for price breakouts beyond established zones, deleting zones that are invalidated by price movement. when the price breaks a given zone with the threshold, it is considered to be mitigated and chances of trend continuation is decent.
Candle Coloring: Uses color codes (green, red, and yellow) to represent bullish, bearish, and indecisive (doji) candles, aiding quick visual assessment.
INPUTS
1. Wick Threshold (%) : Sets the minimum wick percentage required for a candle to be considered a support or resistance candidate.
2. Breakout Threshold (%) : Determines the percentage above or below a support or resistance zone that defines a breakout condition. if breaks a zone with the set threshold then the zone will be considered mititgated.
3. Max Number of Support/Resistance Zones : Limits the maximum number of support/resistance zones displayed on the chart, ranging from 1 to 5.
4. Show Wick Percentage Labels : Toggles the display of percentage values for upper and lower wicks on each candle.
TRADE SETUP
Identifying Entry Points: Look for the formation of support or resistance zones. Wait for price to retrace to these zones. if you are willing to take risk, you can consider even zones with low delta. If you want to be more cautious you should consider zones with high delta.
Volume Confirmation: Use the volume information to confirm the strength of the zone. Strong volume differences (displayed as labels) can indicate significant market pressure at these levels.
Breakout Trades: If price breaks through a support/resistance zone by more than the breakout threshold, consider this a signal for a potential trend continuation in the breakout direction.
Risk Management: Set stop-loss levels slightly outside of the identified zones to minimize risk in case of false breakouts. This can be set in input setting for breakout threshold.
Bonus Tip : Mark your significant highs and lows from where prices have retraced multiple times in the near past and if the zone is near these levels it can serve s a strong candidate of support or resistance
Therefore, in conclusion monitor the zones, based on delta and volume presence filter out the zone, wait for price retracement to the zone, intiate the trade with stop loss below zone with a set percentage.
[DarkTrader] Dynamic Level ProjectionThis indicator designed to enhance market analysis by projecting key price levels based on recent highs and lows. This script stands out by offering unique dynamic projections that are tailored to the latest market conditions, making it a valuable tool for both short-term and long-term traders.
Level Projection uses proprietary methods to dynamically project levels above and below recent price extremes. It employs two distinct scaling methods—Short Multiply (SM) and Long Multiply (LM)—to calculate these levels. The SM method is used to project resistance levels above recent highs, while the LM method projects support levels below recent lows. This approach ensures that the projected levels are responsive to current market trends and volatility.
How It Works :
The indicator analyzes recent market data to determine the highest and lowest prices over a customizable lookback period. Using the OHLC Lookback parameter, traders can set the duration for which these extreme prices are calculated. Based on these extremes, the indicator projects additional levels using the defined scaling methods. The result is a series of levels that help identify potential support and resistance zones in real time.
Customization Options :
Level Parameter: Defines the lengths for different projected levels.
OHLC Resolution: Selects the timeframe for OHLC data used in calculations.
Box Padding / Height: Controls the visual spacing of the projected levels on the chart.
Start Color and Extend Color: Customize the colors of the projected levels for better visual differentiation.
Real-Time Updates :
The indicator is designed to update in real-time, recalculating and redrawing levels with each new bar. This ensures that traders always see the most current projections and can make timely decisions based on the latest market data.
How to Use :
Traders should apply the indicator to their charts and customize the parameters according to their trading strategy. The projected levels will help in identifying potential support and resistance zones, which can be used to make informed trading decisions and manage risk effectively.
Support and ResistanceThis indicator, titled "Support and Resistance," is designed to identify and display key price levels based on volume and pivot points. It's a versatile tool that can be adapted for different market views and timeframes.
Key Features
Market View Options
The indicator offers three market view settings:
Short term
Standard
Long term
These settings affect the lookback periods used in calculations, allowing users to adjust the indicator's sensitivity to market movements.
Volume-Based Levels
The indicator calculates support and resistance levels using a rolling Point of Control (POC) derived from volume data. This approach helps identify price levels where the most trading activity has occurred.
Pivot Points
In addition to volume-based levels, the indicator incorporates pivot points to identify potential support and resistance areas.
Customizable Appearance
Users can adjust:
Number of lines to display (1-8)
Colors for support and resistance levels
Line thickness based on level importance
Calculation Methods
Rolling POC
The indicator uses a custom function f_rolling_poc to calculate the rolling Point of Control. This function analyzes volume distribution across price levels within a specified lookback period.
Pivot Points
Both standard and quick pivot points are calculated using the rolling POC as input, rather than traditional price data.
Level Importance
The indicator assigns importance to each level based on:
Number of touches (how often price has interacted with the level)
Duration (how long the level has been relevant)
This importance score determines the thickness of the displayed lines.
Unique Aspects
Dynamic Line Thickness: Lines become thicker when levels overlap, highlighting potentially stronger support/resistance areas.
Adaptive Coloring: The color of each line changes dynamically based on whether the current price is above or below the level, indicating whether it's acting as support or resistance.
Flexible Time Frames: The market view options allow the indicator to be easily adapted for different trading styles and timeframes.
Potential Uses
This indicator could be valuable for:
Identifying key price levels for entry and exit points
Recognizing potential breakout or breakdown levels
Understanding the strength of support and resistance based on line thickness
Adapting analysis to different market conditions and timeframes
Overall, this "Support and Resistance" indicator offers a sophisticated approach to identifying key price levels, combining volume analysis with pivot points and providing visual cues for level importance and current market position.
This Support and Resistance indicator is provided for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any security. The indicator's calculations are based on historical data and may not accurately predict future market movements. Trading decisions should be made after thorough research and consultation with a licensed financial advisor. The creator of this indicator is not responsible for any losses incurred from its use. Past performance does not guarantee future results. Use at your own risk.
Price Action Volumetric Breaker Blocks [UAlgo]The Price Action Volumetric Breaker Blocks indicator is designed to identify and visualize significant price levels in the market. It combines concepts of price action, volume analysis, and market structure to provide traders with a comprehensive view of potential support and resistance areas. This indicator identifies "breaker blocks," which are price zones where the market has shown significant interest in the past.
These blocks are created based on swing highs and lows, and are further analyzed using volume data to determine their strength. The indicator also tracks market structure shifts, providing additional context to price movements.
By visualizing these key levels and market structure changes, traders can gain insights into potential areas of price reversal or continuation, helping them make more informed trading decisions.
🔶 Key Features
Dynamic Breaker Block Identification: The indicator automatically detects and draws breaker blocks based on swing highs and lows. These blocks represent areas of potential support and resistance.
Volume-Weighted Strength Analysis: Each breaker block is analyzed using volume data to determine its bullish and bearish strength. This is visually represented by the proportion of green (bullish) and red (bearish) coloring within each block.
Market Structure Break (MSB) and Break of Structure (BOS): The indicator identifies and labels Market Structure Breaks (MSB) and Break of Structure (BOS) events, providing context to larger market trends.
Customizable Settings:
- Adjustable swing length for identifying pivot points
- Option to show a specific number of recent breaker blocks
- Choice between wick or close price for violation checks
- Toggle to hide overlapping blocks for cleaner analysis
Violation Detection: Automatically detects when a breaker block has been violated (broken through), either by wick or close price, depending on user settings.
Overlap Control: Provides an option to hide overlapping order blocks, ensuring that the chart remains clean and easy to read when multiple blocks are detected in close proximity.
🔶 Interpreting Indicator
Breaker Blocks:
Breaker blocks are key areas where the price moves through and invalidates a previously identified order block. The indicator detects a breaker block when the price violates an order block by exceeding its high or low (depending on whether it's a bullish or bearish block). This violation is determined by either the wick or the close of a candle, depending on the user's selection in the "Violation Check" setting. When a breaker block is detected, the indicator removes the violated order block from the chart, signaling that the zone is no longer relevant for future price action.
Bullish Breaker Block: This occurs when a bearish order block (red) is violated by the price closing above the block’s top boundary or when the wick surpasses this level. It signals that a prior bearish structure has been invalidated, and the market may shift to a bullish trend.
Bearish Breaker Block: This occurs when a bullish order block (teal) is violated by the price closing below the block’s bottom boundary or when the wick drops below it. It suggests that a previous bullish structure has been broken, indicating potential bearish momentum.
Market Structure Labels:
"MSB" (Market Structure Break) labels indicate a potential change in trend direction.
"BOS" (Break of Structure) labels confirm the continuation of the current trend after breaking a significant level.
Block Strength:
A block with more green indicates stronger bullish interest.
A block with more red indicates stronger bearish interest.
The relative sizes of the green and red portions show the balance of power between buyers and sellers at that level.
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Dynamic Resistance and Support LinesThis script is designed to dynamically plot support and resistance lines based on full-dollar and half-dollar price levels relative to the close price on a chart. The script is particularly useful for day traders and scalpers, as it helps visualize key psychological price levels that often act as support and resistance zones in volatile and fast-moving markets in real time.
Key Features:
Dynamic Resistance and Support Levels:
Full-dollar levels: These are calculated by rounding the close price to the nearest full dollar and then extending the levels by adding and subtracting increments of 1 (e.g., $1, $2, $3).
Half-dollar levels: These are calculated by adding and subtracting 0.5 increments to the nearest full-dollar price, providing additional reference points. The historical full-dollar levels remain where support and resistance may have occurred in the past.
Extend Lines:
You can toggle whether the support and resistance lines are extended to the right, left, or both directions. This allows flexibility in projecting potential future areas of support or resistance.
Custom Line Extension:
The user can set the number of bars (or time periods) that the support and resistance lines will extend, giving control over how long the levels remain on the chart.
Color-Coded Lines:
Red lines represent full-dollar resistance and support levels.
Blue lines represent half-dollar levels, making it easy to differentiate between key psychological price zones.
Line Flexibility:
The script allows the lines to extend both left and right on the chart, making it useful for analyzing historical price action or projecting future price movements. The number of bars for extension is customizable, allowing for tailored setups.
Nearest Full Dollar Plot:
The nearest full-dollar price level is plotted as a yellow circle on the chart. This serves as a quick visual cue for traders to monitor price proximity to critical levels.
Benefits in Day Trading, Scalping, and Volatile Markets:
Visualizing Key Psychological Levels:
Full-dollar and half-dollar price levels often act as psychological barriers for traders. This script helps traders easily identify these levels, which are important in both fast-moving markets and during sideways consolidation.
Improved Decision-Making:
By automatically drawing these support and resistance levels, the script helps day traders and scalpers make quicker and more informed decisions, especially in volatile markets where every second counts.
Adaptability to Market Conditions:
The flexibility of extending lines based on trader preferences allows the user to adapt the script to various market conditions, such as high volatility or trend-based trading, providing a clear view of potential breakout or reversal areas.
Better Risk Management:
Having predefined support and resistance levels helps traders better manage risk, as these levels can act as logical areas for setting stop losses or taking profits.
This script is especially valuable for traders looking to capitalize on quick market movements or identify key entry and exit points during market volatility.
Supertrend Crosses_AITSupertrend Crosser
Overview:
The "Supertrend Crosses" indicator is a technical analysis tool that combines two Supertrend lines with different parameters to generate buy and sell signals based on their crossovers. The indicator uses color coding to visualize the market trend and provides alerts for potential trade entries.
1. Settings and Inputs:
Supertrend A:
Factor: Multiplier for the ATR (Average True Range), which determines the sensitivity of Supertrend A.
ATR Period: Number of periods used to calculate the ATR for Supertrend A.
Supertrend B:
Factor: Multiplier for the ATR, which determines the sensitivity of Supertrend B.
ATR Period: Number of periods used to calculate the ATR for Supertrend B.
2. Indicator Components:
Supertrend A:
Plotted on the chart using dynamic coloring:
Green when Supertrend A is above Supertrend B.
Red when Supertrend A is below Supertrend B.
Supertrend B:
Plotted on the chart in white color to provide a visual reference for the crossover signals.
3. Crossover Signals:
Long Signal:
Triggered when Supertrend A crosses above Supertrend B.
A yellow upward triangle ("L") is displayed on the chart below the price bar.
Short Signal:
Triggered when Supertrend A crosses below Supertrend B.
A fuchsia downward triangle ("S") is displayed on the chart above the price bar.
4. How to Use the Indicator:
Identifying Trend Changes:
When Supertrend A crosses above Supertrend B, it indicates a potential upward trend, generating a buy signal.
Conversely, when Supertrend A crosses below Supertrend B, it suggests a potential downward trend, generating a sell signal.
Signal Visualization:
Yellow "L" markers indicate long entry points (buy signals).
Fuchsia "S" markers indicate short entry points (sell signals).
Alerts:
The indicator is equipped with alert conditions for both long and short signals. Users can set up alerts in TradingView to receive notifications when these signals occur.
5. Customization:
Supertrend Parameters:
The factors and ATR periods for Supertrend A and B can be adjusted in the settings to fit different market conditions and trading strategies.
Show Signals Option:
The user can toggle the display of the buy and sell signals on the chart through the "Show Signals?" checkbox in the settings.
6. Visual Representation:
Lines:
Supertrend A: Plotted with dynamic coloring based on its relation to Supertrend B.
Supertrend B: Plotted in white for a clear reference.
Markers:
"L" (yellow) for long signals and "S" (fuchsia) for short signals are plotted on the chart at the point of crossover.
7. Alerts Setup:
Buy Signal Alert: Alerts the user when Supertrend A crosses above Supertrend B.
Sell Signal Alert: Alerts the user when Supertrend A crosses below Supertrend B.
8. Advantages:
Simple and Effective: This indicator simplifies trend identification by using crossovers of two Supertrend lines.
Customizable: The indicator's parameters can be tailored to suit different trading styles and asset classes.
Alerts: Provides alert functionality to ensure traders do not miss trading opportunities.
9. Usage Tips:
Combine with Other Indicators: For more reliable signals, consider using this indicator in conjunction with other technical analysis tools like RSI, MACD, or support and resistance levels.
Risk Management: Always use appropriate risk management techniques, such as stop-loss orders, to protect your capital.
The "Supertrend Crosses" indicator offers a straightforward approach to identifying potential trend reversals and trade entries using the crossover of two Supertrend lines. It provides clear visual signals and alert notifications, making it a valuable tool for traders looking to incorporate trend-following strategies.
Support Resistance DynamicsThe Support Resistance Dynamics indicator is an advanced technical analysis tool designed to identify and visualize key support and resistance levels in real-time. This innovative indicator stands out from traditional support and resistance tools by employing a dynamic approach that adapts to market conditions.
Key Features:
Dynamic Level Calculation: Unlike static support and resistance indicators, this tool continuously updates levels based on recent price action, providing traders with the most relevant and up-to-date information.
Logarithmic Scale Option: The indicator offers a unique logarithmic scale feature, essential for analyzing long-term trends or assets with significant price changes. This allows for more accurate level plotting across various timeframes and price ranges.
Customizable Display: Users can adjust the number of support and resistance lines displayed, allowing for a clean and uncluttered chart view while focusing on the most significant levels.
Adaptive Slope Calculation: The indicator uses an innovative approach to calculate the slope of support and resistance lines, offering options from dynamic adaptation to fixed long-term periods. This ensures the lines remain relevant in both trending and ranging markets.
Enhanced Visualization: With customizable line colors, styles, and transparency, traders can easily distinguish between support and resistance levels, improving chart readability and analysis.
Flexible Period Settings: From dynamic calculations based on recent pivots to fixed long-term periods, the indicator adapts to various trading styles and timeframes.
The Support Resistance Dynamics indicator is particularly useful for:
Identifying potential reversal points in trends
Setting more accurate entry and exit points for trades
Placing stop-loss orders with greater precision
Recognizing breakout levels for potential new trends
By combining dynamic calculation methods with customizable visual elements, this indicator provides traders with a powerful tool for market analysis. Whether you're a day trader looking for short-term opportunities or a long-term investor analyzing macro trends, the Support Resistance Dynamics indicator offers valuable insights to enhance your trading strategy.
This indicator is provided for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading involves significant risk of loss. Users should conduct their own research and due diligence before making any investment decisions. The creator of this indicator is not responsible for any losses incurred from its use. Always test thoroughly on demo accounts before applying to live trading.
Shifted Lines Based on Hourly CandleOverview
The Shifted Lines Based on Hourly Candle indicator plots two dynamic horizontal lines on your chart, offset by a specified price amount above and below the closing price of the last completed hourly candle. These lines update every hour, providing real-time reference levels that can assist in identifying potential support and resistance zones.
How the Indicator Works
• Hourly Close Reference:
• The indicator uses the closing price of the most recent completed hourly candle as a reference point, regardless of your current chart timeframe.
• Price Offset Calculation:
• You can specify a Price Offset value, which determines how far above and below the hourly close the lines will be drawn.
• Upper Level: Calculated by adding the Price Offset to the hourly closing price.
• Lower Level: Calculated by subtracting the Price Offset from the hourly closing price.
• Dynamic Updates:
• The indicator automatically updates the positions of the lines at the start of each new hour, ensuring they always reflect the latest market data.
Settings and Parameters
Input Parameters
• Price Offset
• Description: The amount (in price units) by which the upper and lower lines are offset from the hourly closing price.
• Type: Numerical input (allows decimal values).
• Default Value: 10.0
• Usage: Adjust this value to set your desired offset distance. For instance, if you set it to 5, the upper line will be drawn 5 units above the hourly close, and the lower line will be 5 units below.
Style Settings
In the indicator’s Style tab, you’ll find the following options:
• Upper Level and Lower Level Lines:
• Color: Default is red. You can change it to any color that suits your preference.
• Line Width: Adjust the thickness of the lines for better visibility.
• Precision: Controls the number of decimal places displayed for the level values. It’s recommended to leave this at the default setting to match the instrument’s standard precision.
• Labels and Values:
• Labels on Price Scale: Enabled by default. This displays the current values of the upper and lower levels directly on the price scale, making them easily visible.
• Values in Status Line: Enabled by default. This shows the values of the levels in the status line at the top of the chart when you hover over the indicator.
Note: The default settings are optimized for general use. You don’t need to adjust them unless you have specific visualization preferences.
How to Use the Indicator
1. Adding the Indicator:
• Since the script is private, you can add it to your chart from the list of indicators you’ve been granted access to.
2. Configuring the Price Offset:
• Open the indicator settings by clicking the gear icon next to its name in the chart.
• In the Inputs tab, adjust the Price Offset to your desired value.
3. Interpreting the Lines:
• Upper Level Line:
• Represents a price level above the last hourly close, offset by your specified amount.
• Can act as a potential resistance level.
• Lower Level Line:
• Represents a price level below the last hourly close, offset by your specified amount.
• Can act as a potential support level.
4. Trading Applications:
• Support and Resistance:
• Use the lines to identify key support and resistance areas for potential entry and exit points.
• Breakout Strategies:
• Monitor price action around these levels to spot possible breakouts or reversals.
• Risk Management:
• Incorporate the levels into your stop-loss or take-profit strategies.
Practical Example
Suppose the last hourly candle closed at a price of 1,500, and your Price Offset is set to 10:
• Upper Level: 1,500 + 10 = 1,510
• Lower Level: 1,500 - 10 = 1,490
These levels will be plotted on your chart and will remain until the next hourly candle closes, at which point they will update based on the new closing price.
Notes and Tips
• Timeframe Flexibility:
• The indicator can be applied to any chart timeframe, but it always references the hourly close for consistency.
• No Need to Adjust Precision:
• The Precision setting in the Style tab is optimized for most instruments and typically doesn’t require changes.
• Visual Customization:
• Feel free to adjust the colors and line styles to integrate seamlessly with your chart’s appearance.
• Indicator Access:
• Since the script is private, only users with access can add it to their charts. The source code remains hidden to protect proprietary logic.
Relative volume zone + Smart Order Flow Dynamic S/ROverview:
The Relative Volume Zone + Smart Order Flow with Dynamic S/R indicator is designed to help traders identify key trading opportunities by combining multiple technical components. This script integrates relative volume analysis, order flow detection, VWAP, RSI filtering, and dynamic support and resistance levels to offer a comprehensive view of the market conditions. It is particularly effective on shorter timeframes (M5, M15), making it suitable for scalping and day trading strategies.
Key Components:
1. Relative Volume Zones:
• The script calculates the relative volume by comparing the current volume with the average volume over a defined lookback period (volLookback). When the relative volume exceeds a specified multiplier (volMultiplier), it indicates a high volume zone, signaling potential accumulation or distribution areas.
• Purpose: Identifies high-volume trading zones that may act as significant support or resistance, indicating possible entry or exit points.
2. Smart Order Flow Analysis:
• The indicator uses Volume Delta (the difference between buying and selling volume) and a Cumulative Delta to detect order imbalances in the market.
• Order Imbalance is identified using a moving average of the Volume Delta (orderImbalance), which helps highlight hidden buying or selling pressure.
• Purpose: Reveals market sentiment by showing whether buyers or sellers dominate the market, aiding in the identification of trend reversals or continuations.
3. VWAP (Volume Weighted Average Price):
• VWAP is calculated over a default daily length (vwapLength) to show the average price a security has traded at throughout the day, based on both volume and price.
• Purpose: Provides insight into the fair value of the asset, indicating whether the market is in an accumulation or distribution phase.
4. RSI (Relative Strength Index) Filter:
• RSI is used to filter buy and sell signals, preventing trades in overbought or oversold conditions. It is calculated using a specified period (rsiPeriod).
• Purpose: Reduces false signals and improves trade accuracy by only allowing trades when RSI conditions align with volume and order flow signals.
5. Dynamic Support and Resistance Levels:
• The script dynamically plots support and resistance levels based on recent swing highs and lows (swingLookback).
• Purpose: Identifies potential reversal zones where price action may change direction, allowing for more precise entry and exit points.
How It Works:
• Buy Signal:
A buy signal is generated when:
• The price enters a high-volume zone.
• The price crosses above a 5-period moving average.
• The cumulative delta shows more buying pressure (cumulativeDelta > SMA of cumulativeDelta).
• The RSI is below 70 (not in overbought conditions).
• Sell Signal:
A sell signal is generated when:
• The price enters a high-volume zone.
• The price crosses below a 5-period moving average.
• The cumulative delta shows more selling pressure (cumulativeDelta < SMA of cumulativeDelta).
• The RSI is above 30 (not in oversold conditions).
• Dynamic Support and Resistance Lines:
Drawn based on recent swing highs and lows, these lines provide context for potential price reversals or breakouts.
• VWAP and Order Imbalance Lines:
Plotted to show the average traded price and highlight order flow shifts, helping to validate buy/sell signals.
How to Use:
1. Apply the Indicator:
Add the script to your chart and adjust the settings to match your trading style and preferred timeframe (optimized for M5/M15).
2. Interpret the Signals:
Use the buy and sell signals in conjunction with dynamic support/resistance, VWAP, and order imbalance lines to identify high-probability trade setups.
3. Monitor Alerts:
Set alerts for significant order flow events to receive notifications when there is a positive or negative order imbalance, indicating potential market shifts.
What Makes It Unique:
This script is unique because it combines multiple market analysis tools — relative volume zones, smart order flow, VWAP, RSI filtering, and dynamic support/resistance — to provide a well-rounded, multi-dimensional view of the market. This integration allows traders to make more informed decisions by validating signals across various indicators, enhancing overall trading accuracy and effectiveness.
Relative volume zone + Smart Order Flow Dynamic S/ROverview:
The Relative Volume Zone + Smart Order Flow with Dynamic S/R indicator is designed to help traders identify key trading opportunities by combining multiple technical components. This script integrates relative volume analysis, order flow detection, VWAP, RSI filtering, and dynamic support and resistance levels to offer a comprehensive view of the market conditions. It is particularly effective on shorter timeframes (M5, M15), making it suitable for scalping and day trading strategies.
Key Components:
1. Relative Volume Zones:
• The script calculates the relative volume by comparing the current volume with the average volume over a defined lookback period (volLookback). When the relative volume exceeds a specified multiplier (volMultiplier), it indicates a high volume zone, signaling potential accumulation or distribution areas.
• Purpose: Identifies high-volume trading zones that may act as significant support or resistance, indicating possible entry or exit points.
2. Smart Order Flow Analysis:
• The indicator uses Volume Delta (the difference between buying and selling volume) and a Cumulative Delta to detect order imbalances in the market.
• Order Imbalance is identified using a moving average of the Volume Delta (orderImbalance), which helps highlight hidden buying or selling pressure.
• Purpose: Reveals market sentiment by showing whether buyers or sellers dominate the market, aiding in the identification of trend reversals or continuations.
3. VWAP (Volume Weighted Average Price):
• VWAP is calculated over a default daily length (vwapLength) to show the average price a security has traded at throughout the day, based on both volume and price.
• Purpose: Provides insight into the fair value of the asset, indicating whether the market is in an accumulation or distribution phase.
4. RSI (Relative Strength Index) Filter:
• RSI is used to filter buy and sell signals, preventing trades in overbought or oversold conditions. It is calculated using a specified period (rsiPeriod).
• Purpose: Reduces false signals and improves trade accuracy by only allowing trades when RSI conditions align with volume and order flow signals.
5. Dynamic Support and Resistance Levels:
• The script dynamically plots support and resistance levels based on recent swing highs and lows (swingLookback).
• Purpose: Identifies potential reversal zones where price action may change direction, allowing for more precise entry and exit points.
How It Works:
• Buy Signal:
A buy signal is generated when:
• The price enters a high-volume zone.
• The price crosses above a 5-period moving average.
• The cumulative delta shows more buying pressure (cumulativeDelta > SMA of cumulativeDelta).
• The RSI is below 70 (not in overbought conditions).
• Sell Signal:
A sell signal is generated when:
• The price enters a high-volume zone.
• The price crosses below a 5-period moving average.
• The cumulative delta shows more selling pressure (cumulativeDelta < SMA of cumulativeDelta).
• The RSI is above 30 (not in oversold conditions).
• Dynamic Support and Resistance Lines:
Drawn based on recent swing highs and lows, these lines provide context for potential price reversals or breakouts.
• VWAP and Order Imbalance Lines:
Plotted to show the average traded price and highlight order flow shifts, helping to validate buy/sell signals.
How to Use:
1. Apply the Indicator:
Add the script to your chart and adjust the settings to match your trading style and preferred timeframe (optimized for M5/M15).
2. Interpret the Signals:
Use the buy and sell signals in conjunction with dynamic support/resistance, VWAP, and order imbalance lines to identify high-probability trade setups.
3. Monitor Alerts:
Set alerts for significant order flow events to receive notifications when there is a positive or negative order imbalance, indicating potential market shifts.
What Makes It Unique:
This script is unique because it combines multiple market analysis tools — relative volume zones, smart order flow, VWAP, RSI filtering, and dynamic support/resistance — to provide a well-rounded, multi-dimensional view of the market. This integration allows traders to make more informed decisions by validating signals across various indicators, enhancing overall trading accuracy and effectiveness.
FiboTrace.V33FiboTrace.V33 - Advanced Fibonacci Retracement Indicator is a powerful and visually intuitive Fibonacci retracement indicator designed to help traders identify key support and resistance levels across multiple timeframes. Whether you’re a day trader, swing trader, or long-term investor, FiboTrace.V33 provides the essential tools needed to spot potential price reversals and continuations with precision.
Key Features:
• Dynamic Fibonacci Levels: Automatically plots the most relevant Fibonacci retracement levels based on recent swing highs and lows, ensuring you always have the most accurate and up-to-date levels on your chart.
• Gradient Color Zones: Easily distinguish between different Fibonacci levels with visually appealing gradient color fills. These zones help you quickly identify key areas of price interaction, making your analysis more efficient.
• Customizable Levels: Tailor FiboTrace.V33 to your trading style by adjusting the Fibonacci levels and colors to match your preferences. This flexibility allows you to focus on the levels most relevant to your strategy.
• Multi-Timeframe Versatility: Works seamlessly across all timeframes, from 1-minute charts for day traders to weekly and monthly charts for long-term investors. The indicator adapts to your trading horizon, providing reliable signals in any market environment.
• Confluence Alerts: Receive alerts when price enters zones where multiple Fibonacci levels overlap, indicating strong support or resistance. This feature helps you catch high-probability trade setups without constantly monitoring the charts.
How to Use:
• Identify Entry and Exit Points: Use the plotted Fibonacci levels to determine potential entry and exit points. Price retracements to key Fibonacci levels can signal opportunities to enter trades in the direction of the prevailing trend.
• Spot Reversals and Continuations: Watch for price action around the gradient color zones. A bounce off a Fibonacci level may indicate a trend continuation, while a break could signal a potential reversal.
• Combine with Other Indicators: For best results, consider using FiboTrace.V33 in conjunction with other technical indicators, such as moving averages, RSI, or MACD, to confirm signals and enhance your trading strategy.
Timeframe Recommendations:
• Shorter Timeframes (1-minute to 1-hour): Ideal for quick, intraday trades, though signals might be more prone to noise due to rapid market fluctuations.
• Medium Timeframes (4-hour to daily): Perfect for swing trading, offering more reliable Fibonacci levels that capture broader market trends.
• Longer Timeframes (weekly to monthly): Best for long-term investors, where Fibonacci levels act as strong support and resistance based on significant market moves.
• General Tip: Fibonacci retracement levels are more reliable on higher timeframes, but combining them with other indicators like moving averages or RSI can enhance signal accuracy across any timeframe.
Why FiboTrace.V33?
FiboTrace.V33 is more than just a Fibonacci retracement tool—it’s an essential part of any trader’s toolkit. Its intuitive design and advanced features help you stay ahead of the market, making it easier to identify high-probability trading opportunities and manage risk effectively.
Magic Order Blocks [MW]Add a slim design, minimalist view of the most relevant higher and lower order blocks to your chart. Use our novel method of filtering that uses both the the number of consecutive bullish or bearish candles that follow the order block, and the number of ATRs that the asset’s price changed following the order block. View just the order blocks above and below the current price, or view the backgrounds for each and every one. And, if you're up to it, dig into a comprehensive view of the data for each order block candle.
Settings:
General Settings
Minimum # of Consecutive Bars Following Order Block
Show Bullish Order Blocks Below / Hide Last Bullish Block
Show Bearish Order Blocks Above / Hide Last Bearish Block
Use ATR Filter - Select # of ATRs Below
Closest Order Block is Followed by This Many ATRs
Preferences
Right Offset of Indicator Label
Show Mid-Line from Recent Order Block Indicator Label
Use ATRs Instead of Consecutive Candles in Label Indicator
Show Timestamp of Recent Order Block
Show Large Order Block Detail Labels
Show Small Order Block Labels
Background Settings
Show Background for Recent Order Block Indicator Label
# of Backgrounds to Show Before Now
Show All Bullish Order Block Backgrounds
Show All Bearish Order Block Backgrounds
Calculations
This indicator creates a matrix of each order block that is followed by the user-specified number of consecutive bullish or bearish candles. The data can be further filtered by the number of ATRs that the price moves after the order block - also user-defined. The most recent bearish order block above the current price takes arrays from the initial filtered matrix of arrays, filters once more by the “mid-price” of the order block (the average between the order block candle high and low) and selects the last element from this order block matrix. The same follows for the latest bearish order block above the current price.
How to Use
An order block refers to a price range or zone on a chart where large institutional orders have been placed, causing a significant shift in market direction. These zones are crucial because they often indicate areas of strong buying or selling interest, which can lead to future support or resistance levels. Traders use order blocks to identify potential points of market reversal or continuation.
The Magic Order Blocks default view shows the most recent overhead bearish order block above the current price, and the most recent bullish order block below. These can presumably act as support or resistance levels, because they reflect the last price where a significant price move occurred. “Significant” meaning that the order block candle was followed by many consecutive bullish or bearish candles. Based on the user-defined settings, it can also mean that price moved multiples of the asset's average true range (ATR). More consecutive candles means that the duration of the move lasted a long time. A higher ATR move indicates that the price moved impulsively in one direction.
The default view also shows a label to the right of the current price that provides the price level, the time stamp of the order block (optional), and a sequence of bars that show the significance of the level. By default, these bars represent the number of ATRs that price rose or fell following the order block, but they can be toggled to show the number of consecutive bullish or bearish candles that followed the order block.
Although the default view provides the zones that are most relevant to the current price, past order block candles can also be identified visually with labels as well with translucent backgrounds color-coded for bullish or bearish bias. Overlapping backgrounds can identify an area that has been repeatedly been an area of support or resistance.
A detailed view of each order block can also be viewed the includes the following data points:
Bar Index
Timestamp
Consecutive Accumulated Volume
Consecutive Bars
Price Change over Consecutive Bars
Price/Volume Ratio Over Consecutive Bars
Mid Price of Order Block
High Price of Order Block
Low Price of Order Block
ATRs over Consecutive Bars
- Other Usage Notes and Limitations:
The calculations used only provide an estimated relationship or a close approximation, and are not exact.
It's important for traders to be aware of the limitations of any indicator and to use them as part of a broader, well-rounded trading strategy that includes risk management, fundamental analysis, and other tools that can help with reducing false signals, determining trend direction, and providing additional confirmation for a trade decision. Diversifying strategies and not relying solely on one type of indicator or analysis can help mitigate some of these risks.
Things to keep in mind. Longer timeframes don’t necessarily have a as many consecutive candle drops or gains as with shorter timeframes, so be sure to adjust your settings when moving to 1 hour, 1 day, or 1 week timeframes from 1 minute, 5 minute, or 15 minute timeframes.
STRX - Automatic FiboSTRX - Automatic Fibo
The STRX - Automatic Fibo is a powerful and intuitive tool that automatically calculates and plots Fibonacci levels directly on the chart, helping traders precisely identify key support and resistance zones. This indicator is ideal for those who want to optimize their trading decisions using the well-known Fibonacci strategy without the need to manually draw the levels.
Key Features:
Automatic Fibonacci Level Calculation:
The indicator automatically identifies confirmed highs and lows over a specified period, generating Fibonacci levels at 0%, 13.6%, 23.6%, 38.2%, 50%, 61.8%, 78.6%, 88.6%, and 100% based on market structure. This helps traders save time and improve the accuracy of their analysis.
Dynamic Updates:
The STRX - Automatic Fibo tracks Fibonacci levels in real time, automatically updating the lines when new highs or lows are confirmed, ensuring that traders always have access to updated levels relevant to current market conditions.
Line Extension:
The Fibonacci levels are not only displayed at key points on the chart but also extended both forward and backward to provide a clear view of how price levels relate to market movements. This visual extension helps traders plan more effective entry and exit points.
Full Customization:
Traders can configure the number of bars used to confirm highs and lows, adapting the indicator to their strategy. Additionally, Fibonacci levels come with clear labels showing the percentage values and corresponding prices, making interpretation easier.
Simplicity and Precision:
The STRX - Automatic Fibo is designed to simplify technical analysis, allowing traders to focus on what matters most: identifying reversal points and capitalizing on market movements. Whether you're an experienced trader or just starting out, this indicator offers a clear and reliable solution for analyzing the market using Fibonacci levels.
With STRX - Automatic Fibo, you can eliminate the need to manually plot Fibonacci levels and optimize your trading strategy with the help of an automatic and highly customizable tool.
DP-OCR MTF & MA 2024This script developed is designed for multi-timeframe analysis of previous open, close, and range, with additional signal plots based on various percentage extension levels. It also incorporates EMA calculations for crossover strategies. Here's a quick breakdown of what the script does:
Key Features:
1. Timeframes:
o Two separate timeframes (TF1 and TF2), which can be set by the user (e.g., 15 mins, 30 mins, daily, etc.). The script computes price actions and extensions for both timeframes. For better analysis, use Daily in TF1 and Weekly in TF2
2. Extension Levels:
o Calculates and plots 10%, 21%, 31%, 51%, and 61% extensions (both positive and negative) for each timeframe.
o The most commonly used extension levels are 61%, 31%, -61%, and -21%.
o These extension levels can be turned on or off by the user.
3. Open/Close/Range:
o Tracks the high, low, open, and close for both timeframes.
o Highlights open/close gaps.
o Plots the previous high/low range for both timeframes with a fill and different colors based on price movement.
How to Use:
• You can toggle specific extension levels on or off in the script’s settings.
• For example, when price hits a +61% extension, it could signal a breakout, and when it hits a -61% extension, it may indicate a potential retracement.
• Use these levels in conjunction with your price action analysis to set entry/exit points or stop-loss levels.
4. Today’s Open:
o Plots today’s opening price for both timeframes.
How to Use:
• Use today’s open as a key reference point to determine the day’s price action.
• Compare today’s open with the previous high/low or extension levels to evaluate possible trends or reversals.
5. EMA Calculations:
o The script calculates 5, 15, and 20 period EMAs and plots them on the chart.
o Additional EMA crossover signals can be included for strategy optimization.
How to Use:
• Observe the EMAs for potential crossover signals. For example, a 5-period EMA crossing above a 15-period or 20-period EMA may signal a buy opportunity, while a crossover in the opposite direction may signal a sell.
• Combine the EMA crossovers with extension levels or previous price data to refine your entries and exits.
Customizations Available:
• Users can select whether to display extension levels for either timeframe.
• The script allows automatic adaptation to intraday, daily, weekly, or monthly timeframes based on the current chart settings.
Moreover, the extension levels are calculated based on the previous period’s range, with the most commonly usable extension levels being 61, 31, -61, and -21. These levels are often used for identifying potential price retracements, breakouts, or reversal points in technical analysis.
Volatility Trend Bands [UAlgo]The Volatility Trend Bands is a trend-following indicator that combines the concepts of volatility and trend detection. Built using the Average True Range (ATR) to measure volatility, this indicator dynamically adjusts upper and lower bands around price movements. The bands act as dynamic support and resistance levels, making it easier to identify trend shifts and potential entry and exit points.
With the ATR multiplier, this indicator effectively captures volatility-based shifts in the market. The use of midline values allows for accurate trend detection, which is displayed through color-coded signals on the chart. Additionally, this tool provides clear buy and sell signals, accompanied by intuitive graphical markers for ease of use.
The Volatility Trend Bands is ideal for traders seeking an adaptive trend-following method that responds to changing market conditions while maintaining robust volatility control.
🔶 Key Features
Dynamic Support and Resistance: The indicator utilizes volatility to create dynamic bands. The upper band acts as resistance, and the lower band acts as support for the price. Wider bands indicate higher volatility, while narrower bands indicate lower volatility.
Customizable Inputs
You can tailor the indicator to your strategy by adjusting the:
Price Source: Select the price data (e.g., closing price) used for calculations.
ATR Length: Define the lookback period for the Average True Range (ATR) volatility measure.
ATR Multiplier: This factor controls the width of the volatility bands relative to the ATR value.
Color Options: Choose colors for the bands and signal arrows for better visualization.
Visual Signals: Arrows ("▲" for buy, "▼" for sell) appear on the chart when the trend changes, providing clear entry point indications.
Alerts: Integrated alerts for both buy and sell conditions, allowing you to receive notifications for potential trade opportunities.
🔶 Interpreting Indicator
Upper and Lower Bands: The upper and lower bands are dynamic, adjusting based on market volatility using the ATR. These bands serve as adaptive support and resistance levels. When price breaks above the upper band, it indicates a potential bullish breakout, signaling a strong uptrend. Conversely, a break below the lower band signals a bearish breakout, indicating a downtrend.
Buy/Sell Signals: The indicator provides clear buy and sell signals at breakout points. A buy signal ("▲") is generated when the price breaks above the upper band, suggesting the start of a bullish trend. A sell signal ("▼") is triggered when the price breaks below the lower band, indicating the beginning of a bearish trend. These signals help traders identify potential entry and exit points at key breakout levels.
Color-Coded Bars: The bars on the chart change color based on the trend direction. Teal bars represent bullish momentum, while purple bars signify bearish momentum. This color coding provides a quick visual cue about the market's current direction.
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Dynamic ConfluenceThe Dynamic MA Confluence Indicator is a powerful tool designed to simplify your trading experience by automatically identifying the most influential moving average (MA) lengths on your chart. Whether you're using Simple Moving Averages (SMA) or Exponential Moving Averages (EMA), this indicator helps you pinpoint the MA length that holds the greatest confluence, allowing you to make informed trading decisions with ease.
How It Works:
This indicator analyzes a wide range of moving averages, from short-term to long-term, to determine which ones are closest to each other. By setting a "Proximity Percentage," you can control how close these MAs need to be to be considered as having confluence. The indicator then calculates the average of these close MAs to establish a dynamic support or resistance level on your chart.
Why Use This Indicator?
Automatic Optimization: Unsure of which MA length to apply? The indicator automatically highlights the MA length with the most confluence, giving you a clear edge in identifying significant market levels.
Adaptability: Choose between SMA and EMA to suit your trading strategy and market conditions.
Enhanced Decision-Making: By focusing on the MA length with the greatest influence, you can better anticipate market movements and adjust your strategies accordingly.
Customizable Sensitivity: Adjust the Proximity Percentage to fine-tune the indicator's sensitivity, ensuring it aligns with your trading preferences.
Key Feature:
Current Key Confluence MA Length: Displayed in an optional table, this feature shows the MA length that currently has the most impact on the confluence level, providing you with actionable insights at a glance.
Whether you're a seasoned trader or just starting, the Dynamic MA Confluence Indicator offers a streamlined approach to understanding market dynamics, helping you trade smarter and with more confidence. This presentation text is designed to clearly communicate the purpose, functionality, and benefits of the indicator, making it easy for users to understand its value and how it can enhance their trading strategies.
The Dynamic MA Confluence Indicator is a tool designed to assist traders in analyzing market trends. It should not be considered as financial advice or a guarantee of future performance. Trading involves significant risk, and it is possible to lose more than your initial investment. Users should conduct their own research and consider their financial situation before making trading decisions. Always consult with a financial advisor if you are unsure about any trading strategies or decisions. This disclaimer is intended to remind users of the inherent risks in trading and the importance of conducting their own due diligence.
[DarkTrader] Harmonic SNRThe Harmonic SNR indicator identifies key price levels (pivots) based on harmonic swings and highlights these levels as potential support and resistance zones. It works by analyzing price swings on two different timeframes simultaneously and compares the resulting pivot points to find matching levels between the timeframes.
Once the matching levels are identified, the script filters out the ones that are too close to each other based on a user-defined minimum distance. This helps in displaying only the most relevant levels on the chart. The valid levels are then sorted and plotted as lines on the chart to provide visual reference points for potential support and resistance areas. These harmonic levels can help traders identify key price zones where the market may react or reverse.
The difference between Harmonic SNR algorithm and traditional Classic Support and Resistance (SNR) lies in the methodology of identifying key price levels, the comparison of timeframes, and the way the levels are filtered and plotted.
1. Method of Calculation
Classic SNR :
Support and resistance levels are often identified based on historical price highs and lows, psychological round numbers, or areas where price has reversed multiple times in the past.
This approach is more static and often relies on manual identification or simple horizontal lines that mark historical levels.
Harmonic SNR :
This indicator uses pivot highs and lows from harmonic swings based on a defined swing period. It calculates swing points programmatically (using pivot calculations) and identifies key price levels algorithmically.
It compares pivot points across two different timeframes (intraday and a higher timeframe) to filter out important price levels, providing a more dynamic and multi-timeframe perspective.
2. Multi-Timeframe Comparison
Classic SNR :
Classic SNR typically focuses on one timeframe and doesn’t involve comparing key levels across different timeframes.
It marks levels purely based on historical price behavior within the single timeframe of analysis.
Harmonic SNR :
This algorithm compares price swings from two different timeframes (e.g., intraday and daily or higher timeframes). Only levels that appear in both timeframes are considered valid.
This makes the harmonic SNR more selective, filtering out weaker levels and highlighting only those that are significant on both timeframes.
3. Dynamic Filtering and Distance Control
Classic SNR :
Traditional SNR does not typically involve filtering based on the distance between levels. It can plot multiple levels even if they are very close to each other, which can clutter the chart.
Harmonic SNR :
This script introduces a filtering mechanism based on a user-defined minimum distance between two levels. If two levels are too close to each other (within a specified threshold), one is excluded to avoid redundancy.
This distance control adds an additional layer of precision to your SNR levels, making them more reliable by avoiding over-clustered levels.
Indicator In Use :
By using harmonic swing points, this indicator indirectly reflects harmonic price movement, which is rooted in the natural oscillation of the market. This gives your SNR levels a dynamic, harmonic-based foundation.
[DarkTrader] 3 Candle EG ZoneThe 3 Candle EG Zone indicator identifies engulfing patterns and plots dynamic boxes around these zones. The engulfing patterns are key reversal signals where one candle's body completely engulfs the body of the previous candle, indicating a shift in market sentiment. This indicator identifies both bullish and bearish engulfing patterns and draws visual boxes around them, which extend to the right on the chart to show how the zones evolve over time.
EG Calculation by @moamenmostafa Script.
Indicator In Use :
Customization Parameters :
Max EG Box Showing: Defines the maximum number of engulfing (EG) boxes that can be displayed on the chart simultaneously. This helps to limit chart clutter by ensuring that only a specified number of zones are visible.
Pivot EG Box Offset: Sets how far to extend the engulfing box to the right from the current candle. This makes the box continue into future price action, highlighting the significance of the engulfing zone.
Zone Color: Customizes the color and transparency of the engulfing zone box, allowing users to set their preferred color to differentiate bullish and bearish zones.
Bullish Engulfing (Bullish EG):
The code checks if the last three candles have been bearish (open higher than close), and then the current candle is bullish (close higher than open) with a strong upward move. Additionally, the bullish candle must engulf the previous bearish candle, indicating a potential upward reversal. If this condition is true, a box is drawn around the low and high of the last candle.
Bearish Engulfing (Bearish EG):
Similarly, the code checks for three consecutive bullish candles (open lower than close), followed by a bearish candle (open higher than close) that engulfs the previous bullish candle. This signifies a possible downward reversal, and a box is drawn around the last candle's range.
The script continuously checks for bullish or bearish engulfing patterns and dynamically draws boxes around those zones. The boxes remain visible as long as the price stays within the engulfing zone's range. If the price exceeds the zone, the box is deleted, ensuring that only valid and current zones are shown on the chart.
[DarkTrader] Strong High LowThe Strong High Low indicator calculates strong high and low pivots based on price action and the Average True Range (ATR). The calculation for both the high and low pivots involves analyzing recent candle behavior to identify significant levels where price reversal is likely. Specifically, it looks for consecutive bearish or bullish candles to determine whether a strong high or low has been established.
Indicator In Use :
For strong highs, the indicator checks if three consecutive candles are bearish, meaning their closing price is lower than their opening price. It further examines prior candles to confirm that they followed a specific pattern where a reversal could occur. If one of these earlier candles closed higher than it opened, the indicator assumes that this was a strong high, and it records either the high of the second or third candle from the pattern, depending on their relationship to each other.
Similarly, for strong lows, the indicator searches for three consecutive bullish candles where the close is higher than the open. The algorithm then reviews prior candles in the sequence to ensure that the market condition supports a potential low pivot. If an earlier candle closes lower than it opens, it marks this as a strong low. The final low point for the pivot is chosen based on a comparison between the second and third candles of the pattern.
Once the high and low pivots are determined, the indicator adjusts these levels using the ATR value. The ATR is added to the strong high pivot and subtracted from the strong low pivot to create slightly modified levels. This helps accommodate market volatility by widening the range of the high and low pivots, making the levels more reliable in reflecting potential reversal zones.
Finally, the strong high and low pivot lines are drawn on the chart, extending both to the left and right of the current price, based on the user-defined offset values. These lines give a visual cue of where key resistance and support levels exist, with labels marking the exact pivot values for easy reference.
[DarkTrader] Range Level ProbabilityThis indicator calculates and visualizes significant price levels, such as swing highs, swing lows, and mid-price levels, using advanced mathematical functions and statistical methods. It aims to provide traders with insights into potential support and resistance areas by analyzing past price swings and their statistical properties.
Usage :
Identifying Support and Resistance: The projected swing high and swing low levels can act as potential support and resistance zones. Traders can use these levels to anticipate where the price might reverse or experience a pause in its movement.
Trend Analysis: By analyzing the mid-price level and its relationship to the swing high and low, traders can gain insights into the current market trend and potential price direction.
Customizing for Different Periods: Traders can adjust the input parameters, such as the period for calculating the mean and standard deviation, to tailor the indicator to different timeframes and market conditions.
Enhancing Trading Decisions: The indicator provides additional context for trading decisions by combining statistical analysis with visual projections, helping traders make more informed choices and manage risk effectively.
Key Features :
Statistical Analysis: The indicator utilizes statistical techniques to estimate the probability of future price movements. It calculates the likelihood of price reaching certain levels based on historical data, providing a probabilistic view of potential price targets.
Dynamic Range Calculation: It dynamically calculates important price levels based on a defined period. This period is adjustable, allowing traders to customize the indicator to fit different market conditions and trading strategies.
Customizable Appearance: Traders can customize the colors of the projected lines and labels, making it easier to distinguish between different levels and adjust the visual representation to their preferences.
Real-Time Updates: The indicator updates in real time with each new price bar, ensuring that the projected levels reflect the most current market conditions.
The indicator projects key price levels on the chart, including :
Swing High: The highest price level within a specified period.
Swing Low: The lowest price level within the same period.
Mid-Price: The average price between the swing high and swing low.
These levels are drawn as horizontal lines on the chart, extending into the future, which helps traders anticipate potential support and resistance zones.
Supply and Demand Zones
Script Introduction:
I have spent a long time searching for the perfect supply and demand zone indicator, but most of the ones I found were based on lines instead of proper zones, which didn’t quite meet my needs. After much trial and error, I decided to build my own indicator that generates clear and reliable supply and demand zones based on price swings and volatility. This indicator dynamically adjusts to market conditions, creating zones that are more responsive to price movements. Whether you're day trading or swing trading, this indicator will help you identify key price levels where buying and selling pressures exist.
Overview:
This indicator identifies supply and demand zones based on swing highs and lows, combined with market volatility. These zones represent areas where price is likely to experience reversals due to buying or selling pressures. The zones are displayed as rectangles (boxes) rather than lines, making it easier to visualize the areas of interest on the chart.
How the Indicator Works:
1. Supply Zones (Red Box):
- A supply zone is identified when the price forms a swing high (a local high point) and there is sufficient volatility (using ATR). The zone represents an area where sellers are likely to step in and push the price down.
2. Demand Zones (Green Box):
- A demand zone is identified when the price forms a swing low (a local low point) and volatility is sufficient. The zone represents an area where buyers are likely to step in and push the price up.
3. Extension Direction:
- You can control whether the zones extend to the left, to the right, or both directions. This lets you choose how far back or forward you want the zones to appear on the chart.
4. Volatility Filter (ATR Multiplier):
- The indicator uses the Average True Range (ATR) to filter out minor price movements. The ATR multiplier is hardcoded to 0.25, meaning that the indicator is more responsive to smaller price swings. This setting helps the zones adjust dynamically to changing market conditions.
How to Use the Indicator:
1. Adding to Chart:
- After publishing, you or invited users can apply the script to any chart. The indicator will automatically generate supply (red) and demand (green) zones.
2. Settings:
- Swing Length (Look-back Period): This controls how many bars back the script looks for significant swing highs and lows. Increasing this value will create zones based on larger swings.
- Extend Zone Horizontally (Bars): This controls how far the zones extend horizontally (left or right). You can adjust this to make the zones extend more or less on the chart.
- Extension Direction: Choose whether the zones extend to the left, right, or both directions. This gives flexibility on how you want the zones to display on the chart.
- Supply Zone Color: You can customize the color and opacity of the supply zone (default is red).
- Demand Zone Color: You can customize the color and opacity of the demand zone (default is green).
Best Practices for Trading:
- Combine with Other Indicators: While supply and demand zones are powerful on their own, combining this indicator with other tools like moving averages, volume analysis, or momentum indicators can provide further confirmation of potential price reversals.
- Watch for Price Action in Zones: When price approaches a supply or demand zone, watch for price action signals such as candlestick patterns (e.g., pin bars, engulfing candles) that can give you an idea of whether the zone will hold or break.
- Adjust for Different Timeframes: The indicator works well across different timeframes. Use a higher look-back period for larger timeframes (e.g., 4-hour, daily) and a lower look-back period for shorter timeframes (e.g., 5-minute, 15-minute charts).
Final Notes:
This script is intended to help traders identify key supply and demand zones and make better trading decisions. Since it dynamically adjusts to market volatility, it is well-suited for both day traders and swing traders who want to capture price reversals at significant levels.
