Uptrick: Recent Support and Resistance LinesThe indicator titled "Uptrick: Recent Support and Resistance Lines" is a technical analysis tool designed for overlay on price charts. It aims to identify and visualize recent support and resistance levels based on pivot points within a specified range.
Key Features and Functionality:
Pivot Length Parameter:
The indicator allows the user to input a pivot length parameter, which defines the range over which the pivot points (highs and lows) are calculated. By default, this length is set to 50 bars.
Support and Resistance Calculation:
The indicator dynamically calculates the most recent support and resistance levels based on pivot points.
Pivot Highs and Lows:
A pivot high is defined as a price level where a bar's high is higher than the highs of the bars around it for a given number of bars defined by the pivot length.
A pivot low is the opposite, where a bar's low is lower than the lows of the surrounding bars within the same range.
Support Line:
When a new pivot low is identified, this becomes the new recent support level.
The indicator creates a horizontal line at this support level, starting from the bar where it was identified and extending to the current bar. This line is colored green and is drawn with a width of 2 pixels. If a support line already exists, it is deleted and replaced with the new line.
Resistance Line:
Similarly, when a new pivot high is detected, it updates the recent resistance level.
A horizontal line is drawn at this resistance level, starting from the bar where it was identified and extending to the current bar. This line is colored red and also drawn with a width of 2 pixels. As with the support line, any existing resistance line is deleted and replaced with the new one.
Visual Representation:
The support and resistance lines extend to the right, providing a clear visual guide on the chart. This helps traders identify key levels where price has previously found support or encountered resistance, which can be critical for making trading decisions.
Practical Application:
Trading Decisions:
Traders can use the visual cues from the support and resistance lines to make informed trading decisions. For instance, they might place buy orders near support levels and sell orders near resistance levels.
The dynamic nature of these lines helps in adapting to the most recent market conditions, ensuring that the levels are relevant to the current price action.
Trend Analysis:
The indicator can assist in analyzing the overall trend. In an uptrend, the support levels may progressively rise, while in a downtrend, resistance levels may drop.
This indicator is particularly useful for traders who rely on visual support and resistance levels to guide their trading strategies, providing a clear and automatic way to track these critical levels on their charts.
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Fundur - Easy ZonesFundur Easy Zones Trading Indicator
The Fundur Easy Zones trading indicator is designed to simplify market analysis by visually marking critical trading zones. This tool helps traders identify optimal buy and sell areas based on historical price action, making it easier to make informed trading decisions.
Calculation Methodology
The Easy Zones indicator employs pivot point calculations combined with price action analysis and the Average True Range (ATR) to determine key trading zones. These zones are calculated by analyzing market volatility and price movements within each timeframe, allowing the identification of significant discount and premium levels.
Pivot Points: The indicator calculates pivot points based on the average of high, low, and close prices from previous periods. These pivot points serve as the foundational levels from which discount and premium zones are derived.
Price Action Analysis: Historical price data is scrutinized to identify patterns and behaviors that signify potential reversal points. This analysis helps in pinpointing zones where the market is likely to experience significant support (discount) or resistance (premium).
Average True Range (ATR): ATR is used to measure market volatility. By incorporating ATR into the calculations, the indicator adjusts the zone boundaries to reflect current market conditions, ensuring that the zones remain relevant and accurate. Higher ATR values indicate greater volatility and wider zones, while lower ATR values result in narrower zones.
Discount and Premium Levels: Based on the pivot points and ATR, the indicator calculates various tiers of discount and premium levels. These tiers (D1, D2, D3 for discounts and P1, P2, P3 for premiums) represent increasing levels of price deviation from the mean, providing traders with clear entry and exit points.
Features Overview
Zones Settings:
Zones History Length: Adjust the number of historical zones displayed on the chart to analyze past price behavior.
Levels Line Width: Customize the thickness of the zone lines for better visibility.
Structure Settings:
Show Fair Value: Display the fair value zone, providing a visual reference for equilibrium price levels. The fair value is calculated based on the median price over the selected period.
DP (Discount and Premium) Settings:
Enable Discount and Premium Levels: Activate the display of critical buy (discount) and sell (premium) zones. These zones are determined using price deviation analysis from the mean, identifying significant discount (support) and premium (resistance) levels.
Tiered Levels: Visualize up to three levels of discount and premium zones, each with specific target prices (TP1, TP2, TP3), representing different levels of price deviation significance.
Highlight Buy and Sell Zones:
Enable Background: Highlight the background of buy and sell zones for enhanced clarity.
Label Settings:
Enable All Labels: Ensure all labels are visible for quick reference.
Show Descriptive Title: Display titles for each zone, making it easier to understand the context.
Show Take Profit Targets (TP): Clearly mark take profit targets within each zone.
Show Price: Display price levels for each zone for precise entry and exit points.
Symbols Settings:
Fair Value, Premium, and Discount Indicators: Customize symbols to represent gaining or losing fair value, premium, and discount levels, enhancing visual cues for market sentiment.
How to Use the Easy Zones Indicator
Identifying Entry Points:
Use the Discount Zones to identify optimal buy areas. The levels (D1, D2, D3) represent increasing levels of discount, with D1 being the least discounted and D3 the most.
Place buy orders at or near these zones to take advantage of potential price reversals.
Identifying Exit Points:
Use the Premium Zones to identify optimal sell areas. The levels (P1, P2, P3) represent increasing levels of premium, with P1 being the least and P3 the highest.
Place sell orders at or near these zones to maximize profits on upward price movements.
Using Fair Value:
The Fair Value Zone provides a balanced price level where the market is likely to return. Use this as a reference point for setting realistic entry and exit targets.
Strategic Planning:
Combine Discount and Premium Zones with the Fair Value Zone to create a strategic trading plan.
Monitor the zones for price reactions and adjust your trading strategy accordingly.
Best Practices
Historical Analysis:
Regularly review historical price actions within the marked zones to understand market behavior.
Customization:
Adjust the settings to suit your trading style and market conditions. Experiment with different zone lengths and line widths for optimal clarity.
Risk Management:
Always use stop-loss orders in conjunction with the identified zones to manage risk effectively.
By integrating the Fundur Easy Zones indicator into your trading strategy, you can enhance your market analysis, make more informed decisions, and ultimately improve your trading performance.
ACD Indicator [TradingFinder] M Fisher Pivots Methodology Signal🔵 Introduction
The book "The Logical Trader" begins with a comprehensive review of the ACD Methodology principles, which include identifying specific price points related to the opening range.
This method allows you to set reference points for trading and use points "A" and "C" for trade entry. You will also learn about the "Pivot Range" and how to combine them with the ACD method to maximize position size and minimize risk.
In this indicator, the strategy is implemented to make it easier to use.
🔵 How to Use
The "ACD" strategy can be applied to various markets such as stocks, commodities, or forex, providing buy and sell signals that allow you to set your price targets and stop losses.
This strategy is based on the assumption that the opening range of trades is statistically significant each day, meaning the initial market fluctuations influence the market until the end of the day.
The ACD trading strategy is known as a breakout strategy and performs best in volatile or strongly trending markets, such as crude oil and stocks.
Some of the rules for using the ACD strategy include the following :
Consider points A and C as reference points and continuously pay attention to these points during trades. These points serve as entry and exit points for trades.
Examine daily and multi-day pivot ranges to analyze market trends. If the price is above the pivots, the trend is upward, and if below the pivots, the trend is downward.
Trading with the ACD strategy in forex is possible using the ACD indicator. This indicator is a technical tool used to measure the balance between supply and demand in the market. By analyzing trading volume and price, this indicator helps traders identify trend strength and suitable entry and exit points.
To use the ACD indicator, consider the following :
Identifying strong trends: The ACD indicator can help you identify strong and stable trends in the market.
Determining entry and exit points: ACD provides buy and sell signals to enter or exit trades at the best possible time.
Bullish Setup :
When the "A up" line is broken, it is advisable to wait for some time to ensure that this is not a "Fake Breakout" and that the price stabilizes above this line.
After entering the trade, the best stop loss you can choose is below the "A down" line. However, it is recommended to test this in backtests to achieve the best results. The suitable reward-to-risk ratio for this strategy is 1, which should also be backtested.
Bearish Setup :
When the "A down" line is broken, it is advisable to wait for some time to ensure that this is not a "Fake Breakout" and that the price stabilizes below this line.
After entering the trade, the best stop loss you can choose is above the "A up" line. However, it is recommended to test this in backtests to achieve the best results. The suitable reward-to-risk ratio for this strategy is 1, which should also be backtested.
🔵 Setting
NDay Pivot Range Period : Using this entry you can specify the number of days to calculate NDay Pivot Range.
Show Daily Pivot Range : Set the Daily Pivot color and displayed or not.
Show NDay Pivot Range : Set the NDay Pivot color and displayed or not.
ATR Period Levels : Determining the period of the ATR indicator, which is used to determine the A and C levels.
Show Tokyo ACD Setup : Set the Tokyo ACD Setup color and displayed or not.
Tokyo Opening Range Time : The amount of time taken to determine the opening range. You can set this number between 5 and 60 minutes.
Tokyo Session : Market start and end time.
A Level Multiplier : The coefficient that is multiplied by ATR to determine the distance of line A up and A down.
C Level Multiplier : The coefficient that is multiplied by ATR to determine the distance of line C up and C down.
The same settings exist for the London and New York sessions.
Dinapoli Objective Points (OPs)The DiNapoli Objective Points (OPs) is a drawing tool that computes potential exit targets to a market. It does so by drawing Fibonacci ABC Extensions which form Areas that might condition future market moves. This is a Leading Indicator created by Joe DiNapoli.
Let’s dive into what this tool does.
HOW TO READ THE DINAPOLI OPs
First, let’s review the basic concepts. In the chart below you’ll see a market Up Swing and a Down Swing. Both charts show a significant Retracement within the scope of a larger Swing, and therefore are suitable for this tool.
A Point : That’s the base Reaction Point. In up swings, it’s usually a significant pivot low, while in down swings it’s a pivot high.
B Point : That’s the Focus Point that will define the extent of the extensions. In up swings, it’s usually a significant pivot high, while in down swings it’s a pivot low.
C Point : That’s the Retracement Point from where the extensions will be drawn. The C Point is contained within the A-B Price Range, and often coincides with a Fibonacci Node.
On adding the tool to the chart, it will pop up a message asking the user to click for the 3 Points: A, B and C. Then, the tool will compute the Objective Points. Let’s review them:
COP : It’s the 61.8% Fibonacci Extension. It’s called COP as an acronym for Contracted Objective Point. It’s commonly used as an early Take Profit level or also as a point at which to enable a Trailing Stop Loss.
OP : It’s the 100% Fibonacci Extension. It’s called OP as an acronym for the main Objective Point. It’s usually used as a level where to Take Profit.
XOP : It’s the 161.8% Fibonacci Extension. It’s called XOP as an acronym for Extended Objective Point. It’s usually employed as a Take Profit target in which to close the position or significantly reduce the position weight.
By combining Objective Points with Dinapoli Levels, one can define Areas of Interest that might act as reinforced Support or Resistance levels. The Agreement Area happens where there’s a convergence between a Fibonacci Node and an Objective Point.
WHY WOULD YOU BE INTERESTED IN THIS INDICATOR?
This version of Dinapoli Levels has been designed to address the needs of dedicated traders. Let’s review its main features.
Combine Objective Points with D-Levels!
This tool allows you to quickly compute the Objective Points and display them in a minimalistic non-intrusive fashion.
The fact that the Objective Points get drawn on the right hand side of the chart combines perfectly with the Dinapoli Levels tools.
Keep your Chart Clean!
Disciplined traders keep their charts clean and visually appealing. One needs proper focus to trade in the zone.
Please check how the chart on the left looks compared to the one on the right. Both display exactly the same information. On the right it uses the DiNapoli Objective Points to print the Extensions, whilst on the right it uses the standard Fibonacci Extension tool.
The DiNapoli Objective Points use a view concentrated into the empty right side of the chart, which contributes to a more comprehensive display of information. There are no lines crossing over the price candles. It’s just a better tool. It keeps your charts free of messy lines.
EACH MARKET IN ITS OWN CHART
This tool somehow enhances the functionality of a Fibonacci Extension Drawing Tool. Being in nature a drawing tool, it has been developed as an indicator because that’s the only way it can be done at the present moment in this platform.
Therefore it’s recommended to structure Each Market in its Own Chart . Being coded as an indicator, this tool benefits by displaying over a chart dedicated to a single market.
If you trade on multiple markets, then it’s convenient to set up separate charts for each one. Otherwise, you would need to apply, delete and reapply the tool every time you shift markets.
SETTINGS
Now let’s dive into the settings of this indicator.
ABC Points : This section contains the ABC price points selected and its label visualization controls.
A-Point, B-Point and C-Point : These fields contain the prices that were selected when clicking on the chart. One can change their value by hand, and the indicator will do its best to accommodate the drawing.
Highlight ABC Points : This conditions whether the A-B-C labels should display on screen.
Back Color : Select the color that will be used to highlight the A-B-C labels.
Text Color : Select the color that will be used to print the characters in the A-B-C labels.
Levels : This section allows you to customize the look of the Dinapoli Objective Points.
Enable/Disable Level : Each Level (COP, OP and XOP) can be enabled or disabled.
Level Color : Select the line color for that specific level. Please beware that the default color is 100% transparent. You might need to change the transparency setting in the color picker for the color you’ve selected to appear.
Id : Shows the label identifying the Objective Point.
Price : Shows the price value of the Objective Point.
Offset : Determines how far to the right will the group of DiNapoli Objective Points be located.
Width : Sets the width of the horizontal lines that represent the Objective Points.
Thickness : Sets the line thickness of the lines.
Dinapoli Levels (5 Reaction Points)The Dinapoli Levels is a drawing tool that adds context to the Location in which a market is trading. It does so by drawing Fibonacci Nodes which form Confluence Areas and Agreement Areas that might condition future market moves. This is a Leading Indicator created by Joe DiNapoli.
This version enables you to draw a series of 5 Sets of Fibonacci Nodes in one go . Therefore, you will make use of this tool whenever you find a market swing with 5 clear Reaction Points.
All these terms will be clarified on the sections down below. Next, you’ll learn how to read this tool.
HOW TO READ THE DINAPOLI LEVELS
Firstly, let’s tackle the basic concepts. In the chart below you’ll see both a market Up Swing and a Down Swing. They both show 5 significant Reaction points, and therefore are suitable for this tool.
Here’s a Line Chart to highlight its specific points of interest.
Reaction Points : They are the succession of reversal price points that happen within a market swing. In the case of an up swing, they are the higher lows that stand out. And in down swings, they are the lower highs that stand out.
Focus Point : The Focus Point is the most extreme Price Point of the swing. In the case of an up swing, it’s the extreme high. In a down swing it’s the extreme low.
To use this tool effectively, it needs to be drawn over a market swing that has at least 5 Distinct Reaction Points .
On adding the tool to the chart, it will pop up a message asking the user to click 5 Reaction Points. For proper display, one would select the reaction points from the bottom up in an up swing, and for a down swing they would be selected in descending order.
The final point to be selected is the Focus Point. Then, it’ll display a Fibonacci tree-like structure containing multiple Fibonacci Nodes.
But first, let’s display a simple Fibonacci Node to define its component parts.
Here’s the meaning for each Fibonacci Node:
F3 : It’s the 38.2% Fibonacci Retracement Node. It’s called F3 because originally Fibonacci Nodes were expressed in fractional format. In this case, it’s the 3 /8 Node.
F4 : It’s the 50% Fibonacci Retracement Node. It’s called F4 because its fractional expression is 4 /8 Node.
F5 : It’s the 61.8% Fibonacci Retracement Node. It’s called F5 because its fractional expression is 5 /8 Node.
F8 : It’s the 100% Fibonacci Retracement Node. It’s called F8 because its fractional expression is 8 /8 Node.
By combining close Fibonacci Nodes, one can define Areas of Interest that might act as Support or Resistance, and that might be employed in a wide variety of setups to define entries, take profit levels and stop-loss price levels .
Here are the main Areas to be identified:
Confluence : It’s a price range in which there’s convergence between an F3 Node and an F5 Node.
Agreement : It’s the convergence between a Fibonacci Node and a Fibonacci Expansion level, also called Objective Point.
WHY WOULD YOU BE INTERESTED IN THIS INDICATOR?
This version of Dinapoli Levels has been designed to address the needs of dedicated traders. Let’s review its main features.
Display 5 sets of Fibonacci Levels in One Go!
This tool excels on consolidated trends because it allows the user to plot 5 sets of Fibonacci Levels at once. That happens to be really useful when focusing on the longer term view. It clearly identifies where the market is trading with regards to key Confluence and Agreement areas.
Keep your Chart Clean!
Disciplined traders keep their charts clean. One needs proper focus to trade in the zone.
Please check how the chart on the left looks compared to the one on the right. Both display exactly the same information. On the right it uses the DiNapoli Levels to print 5 sets of Fibonacci Nodes, whilst on the right it uses the standard Fibonacci Retracement.
The DiNapoli Levels use a tree-like view which contributes to a more minimalistic and comprehensive display of information. Moreover, placing the Fibonacci Nodes to the right of the price candles enhances its visibility. There are no lines crossing over the price candles. It’s just a better tool. It keeps your charts free of messy lines.
EACH MARKET IN ITS OWN CHART
This tool somehow enhances the functionality of a Fibonacci Retracement Drawing Tool. Being in nature a drawing tool, it has been developed as an indicator because that’s the only way it can be done at the present moment in this platform.
Therefore it’s recommended to structure Each Market in its Own Chart . Being coded as an indicator, this tool benefits by displaying over a chart dedicated to a single market.
If you trade on multiple markets, then it’s convenient to set up separate charts for each one. Otherwise, you would need to apply, delete and reapply the tool every time you shift markets.
SETTINGS
Now let’s dive into the settings of this indicator.
Focus and Reaction Points : This section contains the price points selected for each Reaction Point and the Focus Point. One is able to modify their values through here. If so, the indicator will redraw the Levels to match the updated price point.
Confluences : This section allows you to customize how the indicator will display Confluence Areas.
Highlight Confluences : Switch on/off the Highlight of the Confluence Levels.
Confluence Color : Select the color that will be used to highlight the confluence levels.
Confluence Area (%) : It defines how wide could be the range in which to search for confluences.
Increase Thickness : It defines how much thicker the Confluence Levels. To keep them as thick as the normal levels simply turn it to 0 (zero).
1st to 5th Levels : Each of these sections allows you to customize the look of each Group of Dinapoli Levels.
Enable/Disable Level : Each Level (F3, F4, F5 and F8) can be enabled or disabled.
Level Color : Select the line color for that specific level.
Id : Shows the label identifying the Level.
Price : Shows the price value of the Level.
Offset : Determines how far to the right will the group of DiNapoli Levels be located.
Width : Sets the width of the horizontal lines that represent the Levels.
Thickness : Sets the line thickness of the lines.
Moving Average Bands with Signals [UAlgo]The "Moving Average Bands with Signals combines various moving average types with ATR-based bands to help traders identify potential support and resistance levels.
It plots moving average bands with upper and lower support/resistance levels based on the Average True Range (ATR) and user-defined settings.Additionally, the script generates buy/sell signals based on price crossing above or below the bands.
🔶 Key Features
Multiple Moving Average Types:
Supports various moving average calculations including Arnaud Legoux Moving Average (ALMA), Exponential Moving Average (EMA), Double Exponential Moving Average (DEMA), Triple Exponential Moving Average (TEMA), Kaufman Adaptive Moving Average (KAMA), Hull Moving Average (HMA), Least Squares Moving Average (LSMA), Simple Moving Average (SMA), Triangular Moving Average (TMA), Volume-Weighted Moving Average (VWMA), Weighted Moving Average (WMA), and Zero-Lag Moving Average (ZLMA).
Customizable ATR Bands:
Integrates the Average True Range (ATR) to calculate dynamic support and resistance bands around the moving average. The multiplier for the bands is user-adjustable, allowing for finer control over the sensitivity and width of the bands.
Signal Generation:
Provides visual signals on the chart when the price interacts with the support or resistance bands. Users can choose between using the wick or the close price to generate these signals, adding an extra layer of customization based on their trading style.
Flexible Input Parameters:
Allows users to input parameters for moving average length, ATR length, band multiplier, and signal type. Additional settings are available for specific moving average types, such as ALMA's offset and sigma, KAMA's fast and slow periods, and LSMA's offset.
🔶 Disclaimer
This script is provided for educational purposes only and should not be considered financial advice.
Trading financial instruments involves substantial risk and can result in significant financial losses.
The script’s performance in the past is not indicative of future results, and no guarantees are made regarding its accuracy, reliability, or performance.
Dinapoli Levels (4 Reaction Points)The Dinapoli Levels is a drawing tool that adds context to the Location in which a market is trading. It does so by drawing Fibonacci Nodes which form Confluence Areas and Agreement Areas that might condition future market moves. This is a Leading Indicator created by Joe DiNapoli.
This version enables you to draw a series of 4 Sets of Fibonacci Nodes in one go . Therefore, you will make use of this tool whenever you find a market swing with 4 clear Reaction Points.
All these terms will be clarified on the sections down below. Next, you’ll learn how to read this tool.
HOW TO READ THE DINAPOLI LEVELS
Firstly, let’s tackle the basic concepts. In the chart below you’ll see both a market Up Swing and a Down Swing. They both show 4 significant Reaction points, and therefore are suitable for this tool.
Here’s a Line Chart to highlight its specific points of interest.
Reaction Points : They are the succession of reversal price points that happen within a market swing. In the case of an up swing, they are the higher lows that stand out. And in down swings, they are the lower highs that stand out.
Focus Point : The Focus Point is the most extreme Price Point of the swing. In the case of an up swing, it’s the extreme high. In a down swing it’s the extreme low.
To use this tool effectively, it needs to be drawn over a market swing that has at least 4 Distinct Reaction Points .
On adding the tool to the chart, it will pop up a message asking the user to click 4 Reaction Points. For proper display, one would select the reaction points from the bottom up in an up swing, and for a down swing they would be selected in descending order.
The final point to be selected is the Focus Point. Then, it’ll display a Fibonacci tree-like structure containing multiple Fibonacci Nodes.
But first, let’s display a simple Fibonacci Node to define its component parts.
Here’s the meaning for each Fibonacci Node:
F3 : It’s the 38.2% Fibonacci Retracement Node. It’s called F3 because originally Fibonacci Nodes were expressed in fractional format. In this case, it’s the 3 /8 Node.
F4 : It’s the 50% Fibonacci Retracement Node. It’s called F4 because its fractional expression is 4 /8 Node.
F5 : It’s the 61.8% Fibonacci Retracement Node. It’s called F5 because its fractional expression is 5 /8 Node.
F8 : It’s the 100% Fibonacci Retracement Node. It’s called F8 because its fractional expression is 8 /8 Node.
By combining close Fibonacci Nodes, one can define Areas of Interest that might act as Support or Resistance, and that might be employed in a wide variety of setups to define entries, take profit levels and stop-loss price levels .
Here are the main Areas to be identified:
Confluence : It’s a price range in which there’s convergence between an F3 Node and an F5 Node.
Agreement : It’s the convergence between a Fibonacci Node and a Fibonacci Expansion level, also called Objective Point.
WHY WOULD YOU BE INTERESTED IN THIS INDICATOR?
This version of Dinapoli Levels has been designed to address the needs of dedicated traders. Let’s review its main features.
Display 4 sets of Fibonacci Levels in One Go!
This tool excels on consolidated trends because it allows the user to plot 4 sets of Fibonacci Levels at once. That happens to be really useful when focusing on the longer term view. It clearly identifies where the market is trading with regards to key Confluence and Agreement areas.
Keep your Chart Clean!
Disciplined traders keep their charts clean. One needs proper focus to trade in the zone.
Please check how the chart on the left looks compared to the one on the right. Both display exactly the same information. On the right it uses the DiNapoli Levels to print 4 sets of Fibonacci Nodes, whilst on the right it uses the standard Fibonacci Retracement.
The DiNapoli Levels use a tree-like view which contributes to a more minimalistic and comprehensive display of information. Moreover, placing the Fibonacci Nodes to the right of the price candles enhances its visibility. There are no lines crossing over the price candles. It’s just a better tool. It keeps your charts free of messy lines.
EACH MARKET IN ITS OWN CHART
This tool somehow enhances the functionality of a Fibonacci Retracement Drawing Tool. Being in nature a drawing tool, it has been developed as an indicator because that’s the only way it can be done at the present moment in this platform.
Therefore it’s recommended to structure Each Market in its Own Chart . Being coded as an indicator, this tool benefits by displaying over a chart dedicated to a single market.
If you trade on multiple markets, then it’s convenient to set up separate charts for each one. Otherwise, you would need to apply, delete and reapply the tool every time you shift markets.
SETTINGS
Now let’s dive into the settings of this indicator.
Focus and Reaction Points : This section contains the price points selected for each Reaction Point and the Focus Point. One is able to modify their values through here. If so, the indicator will redraw the Levels to match the updated price point.
Confluences : This section allows you to customize how the indicator will display Confluence Areas.
Highlight Confluences : Switch on/off the Highlight of the Confluence Levels.
Confluence Color : Select the color that will be used to highlight the confluence levels.
Confluence Area (%) : It defines how wide could be the range in which to search for confluences.
Increase Thickness : It defines how much thicker the Confluence Levels. To keep them as thick as the normal levels simply turn it to 0 (zero).
1st to 5th Levels : Each of these sections allows you to customize the look of each Group of Dinapoli Levels.
Enable/Disable Level : Each Level (F3, F4, F5 and F8) can be enabled or disabled.
Level Color : Select the line color for that specific level.
Id : Shows the label identifying the Level.
Price : Shows the price value of the Level.
Offset : Determines how far to the right will the group of DiNapoli Levels be located.
Width : Sets the width of the horizontal lines that represent the Levels.
Thickness : Sets the line thickness of the lines.
Dinapoli Levels (3 Reaction Points)The Dinapoli Levels is a drawing tool that adds context to the Location in which a market is trading. It does so by drawing Fibonacci Nodes which form Confluence Areas and Agreement Areas that might condition future market moves. This is a Leading Indicator created by Joe DiNapoli.
This version enables you to draw a series of 3 Sets of Fibonacci Nodes in one go . Therefore, you will make use of this tool whenever you find a market swing with 3 clear Reaction Points.
All these terms will be clarified on the sections down below. Next, you’ll learn how to read this tool.
HOW TO READ THE DINAPOLI LEVELS
Firstly, let’s tackle the basic concepts. In the chart below you’ll see both a market Up Swing and a Down Swing. They both show 3 significant Reaction points, and therefore are suitable for this tool.
Here’s a Line Chart to highlight its specific points of interest.
Reaction Points : They are the succession of reversal price points that happen within a market swing. In the case of an up swing, they are the higher lows that stand out. And in down swings, they are the lower highs that stand out.
Focus Point : The Focus Point is the most extreme Price Point of the swing. In the case of an up swing, it’s the extreme high. In a down swing it’s the extreme low.
To use this tool effectively, it needs to be drawn over a market swing that has at least 3 Distinct Reaction Points .
On adding the tool to the chart, it will pop up a message asking the user to click 3 Reaction Points. For proper display, one would select the reaction points from the bottom up in an up swing, and for a down swing they would be selected in descending order.
The final point to be selected is the Focus Point. Then, it’ll display a Fibonacci tree-like structure containing multiple Fibonacci Nodes.
But first, let’s display a simple Fibonacci Node to define its component parts.
Here’s the meaning for each Fibonacci Node:
F3 : It’s the 38.2% Fibonacci Retracement Node. It’s called F3 because originally Fibonacci Nodes were expressed in fractional format. In this case, it’s the 3 /8 Node.
F4 : It’s the 50% Fibonacci Retracement Node. It’s called F4 because its fractional expression is 4 /8 Node.
F5 : It’s the 61.8% Fibonacci Retracement Node. It’s called F5 because its fractional expression is 5 /8 Node.
F8 : It’s the 100% Fibonacci Retracement Node. It’s called F8 because its fractional expression is 8 /8 Node.
By combining close Fibonacci Nodes, one can define Areas of Interest that might act as Support or Resistance, and that might be employed in a wide variety of setups to define entries, take profit levels and stop-loss price levels .
Here are the main Areas to be identified:
Confluence : It’s a price range in which there’s convergence between an F3 Node and an F5 Node.
Agreement : It’s the convergence between a Fibonacci Node and a Fibonacci Expansion level, also called Objective Point.
WHY WOULD YOU BE INTERESTED IN THIS INDICATOR?
This version of Dinapoli Levels has been designed to address the needs of dedicated traders. Let’s review its main features.
Display 3 sets of Fibonacci Levels in One Go!
This tool excels on consolidated trends because it allows the user to plot 3 sets of Fibonacci Levels at once. That happens to be really useful when focusing on the longer term view. It clearly identifies where the market is trading with regards to key Confluence and Agreement areas.
Keep your Chart Clean!
Disciplined traders keep their charts clean. One needs proper focus to trade in the zone.
Please check how the chart on the left looks compared to the one on the right. Both display exactly the same information. On the right it uses the DiNapoli Levels to print 3 sets of Fibonacci Nodes, whilst on the right it uses the standard Fibonacci Retracement.
The DiNapoli Levels use a tree-like view which contributes to a more minimalistic and comprehensive display of information. Moreover, placing the Fibonacci Nodes to the right of the price candles enhances its visibility. There are no lines crossing over the price candles. It’s just a better tool. It keeps your charts free of messy lines.
EACH MARKET IN ITS OWN CHART
This tool somehow enhances the functionality of a Fibonacci Retracement Drawing Tool. Being in nature a drawing tool, it has been developed as an indicator because that’s the only way it can be done at the present moment in this platform.
Therefore it’s recommended to structure Each Market in its Own Chart . Being coded as an indicator, this tool benefits by displaying over a chart dedicated to a single market.
If you trade on multiple markets, then it’s convenient to set up separate charts for each one. Otherwise, you would need to apply, delete and reapply the tool every time you shift markets.
SETTINGS
Now let’s dive into the settings of this indicator.
Focus and Reaction Points : This section contains the price points selected for each Reaction Point and the Focus Point. One is able to modify their values through here. If so, the indicator will redraw the Levels to match the updated price point.
Confluences : This section allows you to customize how the indicator will display Confluence Areas.
Highlight Confluences : Switch on/off the Highlight of the Confluence Levels.
Confluence Color : Select the color that will be used to highlight the confluence levels.
Confluence Area (%) : It defines how wide could be the range in which to search for confluences.
Increase Thickness : It defines how much thicker the Confluence Levels. To keep them as thick as the normal levels simply turn it to 0 (zero).
1st to 5th Levels : Each of these sections allows you to customize the look of each Group of Dinapoli Levels.
Enable/Disable Level : Each Level (F3, F4, F5 and F8) can be enabled or disabled.
Level Color : Select the line color for that specific level.
Id : Shows the label identifying the Level.
Price : Shows the price value of the Level.
Offset : Determines how far to the right will the group of DiNapoli Levels be located.
Width : Sets the width of the horizontal lines that represent the Levels.
Thickness : Sets the line thickness of the lines.
Dinapoli Levels (2 Reaction Points)The Dinapoli Levels is a drawing tool that adds context to the Location in which a market is trading. It does so by drawing Fibonacci Nodes which form Confluence Areas and Agreement Areas that might condition future market moves. This is a Leading Indicator created by Joe DiNapoli.
This version enables you to draw a series of 2 Sets of Fibonacci Nodes in one go . Therefore, you will make use of this tool whenever you find a market swing with 2 clear Reaction Points.
All these terms will be clarified on the sections down below. Next, you’ll learn how to read this tool.
HOW TO READ THE DINAPOLI LEVELS
Firstly, let’s tackle the basic concepts. In the chart below you’ll see both a market Up Swing and a Down Swing. They both show 2 significant Reaction points, and therefore are suitable for this tool.
Here’s a Line Chart to highlight its specific points of interest.
Reaction Points : They are the succession of reversal price points that happen within a market swing. In the case of an up swing, they are the higher lows that stand out. And in down swings, they are the lower highs that stand out.
Focus Point : The Focus Point is the most extreme Price Point of the swing. In the case of an up swing, it’s the extreme high. In a down swing it’s the extreme low.
To use this tool effectively, it needs to be drawn over a market swing that has at least 2 Distinct Reaction Points .
On adding the tool to the chart, it will pop up a message asking the user to click 2 Reaction Points. For proper display, one would select the reaction points from the bottom up in an up swing, and for a down swing they would be selected in descending order.
The final point to be selected is the Focus Point. Then, it’ll display a Fibonacci tree-like structure containing multiple Fibonacci Nodes.
But first, let’s display a simple Fibonacci Node to define its component parts.
Here’s the meaning for each Fibonacci Node:
F3 : It’s the 38.2% Fibonacci Retracement Node. It’s called F3 because originally Fibonacci Nodes were expressed in fractional format. In this case, it’s the 3 /8 Node.
F4 : It’s the 50% Fibonacci Retracement Node. It’s called F4 because its fractional expression is 4 /8 Node.
F5 : It’s the 61.8% Fibonacci Retracement Node. It’s called F5 because its fractional expression is 5 /8 Node.
F8 : It’s the 100% Fibonacci Retracement Node. It’s called F8 because its fractional expression is 8 /8 Node.
By combining close Fibonacci Nodes, one can define Areas of Interest that might act as Support or Resistance, and that might be employed in a wide variety of setups to define entries, take profit levels and stop-loss price levels .
Here are the main Areas to be identified:
Confluence : It’s a price range in which there’s convergence between an F3 Node and an F5 Node.
Agreement : It’s the convergence between a Fibonacci Node and a Fibonacci Expansion level, also called Objective Point.
WHY WOULD YOU BE INTERESTED IN THIS INDICATOR?
This version of Dinapoli Levels has been designed to address the needs of dedicated traders. Let’s review its main features.
Display 2 sets of Fibonacci Levels in One Go!
This tool excels on consolidated trends because it allows the user to plot 2 sets of Fibonacci Levels at once. That happens to be really useful when focusing on the longer term view. It clearly identifies where the market is trading with regards to key Confluence and Agreement areas.
Keep your Chart Clean!
Disciplined traders keep their charts clean. One needs proper focus to trade in the zone.
Please check how the chart on the left looks compared to the one on the right. Both display exactly the same information. On the right it uses the DiNapoli Levels to print 2 sets of Fibonacci Nodes, whilst on the right it uses the standard Fibonacci Retracement.
The DiNapoli Levels use a tree-like view which contributes to a more minimalistic and comprehensive display of information. Moreover, placing the Fibonacci Nodes to the right of the price candles enhances its visibility. There are no lines crossing over the price candles. It’s just a better tool. It keeps your charts free of messy lines.
EACH MARKET IN ITS OWN CHART
This tool somehow enhances the functionality of a Fibonacci Retracement Drawing Tool. Being in nature a drawing tool, it has been developed as an indicator because that’s the only way it can be done at the present moment in this platform.
Therefore it’s recommended to structure Each Market in its Own Chart . Being coded as an indicator, this tool benefits by displaying over a chart dedicated to a single market.
If you trade on multiple markets, then it’s convenient to set up separate charts for each one. Otherwise, you would need to apply, delete and reapply the tool every time you shift markets.
SETTINGS
Now let’s dive into the settings of this indicator.
Focus and Reaction Points : This section contains the price points selected for each Reaction Point and the Focus Point. One is able to modify their values through here. If so, the indicator will redraw the Levels to match the updated price point.
Confluences : This section allows you to customize how the indicator will display Confluence Areas.
Highlight Confluences : Switch on/off the Highlight of the Confluence Levels.
Confluence Color : Select the color that will be used to highlight the confluence levels.
Confluence Area (%) : It defines how wide could be the range in which to search for confluences.
Increase Thickness : It defines how much thicker the Confluence Levels. To keep them as thick as the normal levels simply turn it to 0 (zero).
1st to 5th Levels : Each of these sections allows you to customize the look of each Group of Dinapoli Levels.
Enable/Disable Level : Each Level (F3, F4, F5 and F8) can be enabled or disabled.
Level Color : Select the line color for that specific level.
Id : Shows the label identifying the Level.
Price : Shows the price value of the Level.
Offset : Determines how far to the right will the group of DiNapoli Levels be located.
Width : Sets the width of the horizontal lines that represent the Levels.
Thickness : Sets the line thickness of the lines.
Market Structure Targets Model [LuxAlgo]The Market Structure Targets Model indicator provides an algorithmic approach to setting targets from market structure shifts (MSS) and market structure breaks (MSB), two popular Smart Money Concept (SMC) concepts. Depending on the target % settings, they can be used as take profit, confirmation levels, or potential reversal points.
🔶 USAGE
Our Market Structure Targets Model scripts provide automated and customizable targets from MSS and MSB. Each displayed target can be used in several ways described in the sub-sections below:
🔹 Take Profit
The targets can be used as take profit levels, where the target distance can be set separately for bullish/bearish MSS/MSB respectively.
🔹 Confirmation Levels
Alternatively, targets can be used as an additional confirmation level of a trend reversal when set at a lower percentage, filtering out fake signals that might be given from market structures. In this way, targets can be used as potential entry levels.
🔹 Potential Reversal Points
In some circumstances, targets being reached can be indicative of trend reversals. The percentage of the targets would be typically set higher to allow for trend exhaustion.
The above examples highlight this usage for bearish reversal scenarios, while the image below highlights it for bullish reversal scenarios.
🔹 Support/Resistance Levels
The targets, being horizontal levels, can also serve as potential support/resistances, with breakouts potentially confirming new trends. It is important to remain observant of the market structure. An MSS or MSB in the opposite direction provides essential information to be included in future decisions.
Using multiple timeframes can help detect longer-term trends. Depending on the user's preference, they can choose the appropriate timeframe for their needs.
Note that Target lines will only be drawn when the Target Level exceeds the close value when it is drawn.
🔹 Maximum Target Duration
The Maximum Target Duration setting removes unreached target levels when the amount of bars since the associated market structure of that target exceeds the user set limit. This effectively allows the removal of any target that might no longer be relevant to newer trends.
🔹 Type: Switch/Hold
This setting is another way to control unreached target levels.
Switch: When a new MSS/MSB is found, the previous target level associated with a market structure with the same direction (bullish/bearish) is deleted if it hasn't been reached.
Hold: Target levels are retained and continuously evaluated when a new MSS/MSB is formed.
The target level will be removed in both cases when the Maximum Target Duration condition is applied.
The above example shows the case when the Type setting is set to Switch , while in the example below, it is set to Hold .
🔶 DETAILS
🔹 Market Structure
Market structures are commonly classified as follows:
Market Structure Shift (MSS), also referred to as Change of Character (CHoCH)
Market Structure Break (MSB), also referred to as Break of Structure (BOS)
MSS indicates a shift in the market trend, confirming trend reversals. Conversely, MSB occurs once a trend is already determined, confirming new higher highs/lower lows.
🔹 Targets
A: Highest/lowest between the extremities of the MSS/MSB line
B: Price value of the MSS/MSB line
The distance between A and B is projected on the opposite side of the MSS/MSB line, adjusted with a percentage that can be set by the user. The above example used 100% of the distance between A and B.
The Target Percentage of MSS and MSB can be set separately for bullish or bearish market structures.
🔶 SETTINGS
Swings: Period used for the swing detection, with higher values returning longer-term Swing Levels.
Type: the Switch/Hold setting controls unattained target levels
Maximum Target Duration: removes the target lines when the amount of bars since the drawing of the target exceeds the limit and the target has not been reached
🔹 Market Structure Shift (MSS)
Bullish: Toggle, color setting, % Target
Bearish: Toggle, color setting, % Target
🔹 Market Structure Break (MSB)
Bullish: Toggle, color setting, % Target
Bearish: Toggle, color setting, % Target
Fibonacci Average Range [UkutaLabs]█ OVERVIEW
The Fibonacci Average Range indicator provides unique insight into key price-action levels within the market that can serve as powerful support and resistance levels. The Fibonacci Average Range is automatically generated purely from price-action; simplifying the decision-making process because price-action focuses on the most critical factor, price.
Through the use of its Fibonacci retracement levels, traders will be able to more accurately predict future direction and price movement of any given commodity.
The Fibonacci Average Range indicator is a powerful trading tool that provides unique insight into the market that can provide value to a wide variety of trading styles.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
At the beginning of each trading day, the script will use relevant price-action information to calculate an expected range for the current trading day, giving traders unique insight into potential levels of support and resistance within the market.
Depending on current market conditions, the script will either generate from the current day’s high or the current day’s low, depending on whether the market shows bullish or bearish strength.
Within the total projected range, several other levels will be identified and labelled. These levels combine the script’s prediction for the day’s range and key Fibonacci Ratios to identify potentially powerful levels of support and resistance within.
Each line also has a label to identify what it represents, and these labels can be turned off in the settings.
█ SETTINGS
Configuration
• Show Labels: Determines whether labels get drawn.
• Current Day Open: Determines whether a line representing the current day’s open is drawn.
• Display Mode: Determines the number of days the script will load.
Line Settings
• Line Width: Determines the width of lines.
• Line Style: Determines the style of lines.
Support and Resistance (High Volume Boxes) [ChartPrime]Support and Resistance (High Volume Boxes)
◆ Overview:
The "Support and Resistance" indicator identifies key support and resistance levels using pivot points and volume analysis. It visually represents these levels with dynamically colored boxes, indicating the strength of the volume. This helps traders recognize potential price reversals and key zones for buy and sell opportunities.
◆ Key Features:
Dynamic Support and Resistance Boxes:
The indicator plots support and resistance boxes based on pivot points and volume above threshold for positive volume boxes and below lower threshold for negative volume boxes.
Box colors change from transparent to more intense based on volume, reflecting the strength of support or resistance.
Boxes expands until a new box of the same type appears.
Volume-Based Color Coding:
Boxes are color-coded based on the amount of volume:
Green boxes indicate support levels with positive volume.
Red boxes indicate resistance levels with negative volume.
Hold Signals:
Green diamonds (◆) indicate when support holds, signaling potential buy opportunities.
Red diamonds (◆) indicate when resistance holds, signaling potential sell opportunities.
Breakout Labels:
If the price falls below a support level, that level will become resistance. If the price rises above a resistance level, it will often become support. As the price moves past a level of support or resistance, it is thought that supply and demand has shifted, causing the breached level to reverse its role.
Labels "Break Sup" and "Break Res" are displayed when support or resistance levels are broken, indicating significant market movements.
◆ Break Resistance:
◆Break Support:
◆ Usage Notes:
This indicator helps traders identify strong support and resistance levels, offering visual cues for potential price reversals.
By analyzing volume at these levels, traders can gauge the strength of these zones and make more informed trading decisions.
◆ Settings:
Lookback Period: The number of bars to look back for pivot points.
Delta Volume Filter Length: The length of the volume filter for more accurate volume analysis. (Higher input, will filter low volume boxes)
Adjust Box Width: Adjusts the width of the support and resistance boxes.
This indicator is designed to enhance your trading by providing clear visual cues for support and resistance levels based on volume, making it easier to spot potential price reversals and key trading opportunities.
TrendzonesHi all!
This indicator plots trendlines. These lines are not plotted as traditional lines, but are instead zones. This is useful if you think that trend lines are more of an area of importance than a line.
It does so by finding pivots and connecting two of them if they have not been broken (more about that later) in-between the pivots.
These trend zones can be used as support/resistance that the price can react to.
• The first trendline is drawn between the high/low of the first and second pivot.
• The second trendline's first point is at the open/close of the pivot (either the first pivot or the second one) that has the smallest difference between the high/low and the nearest open/close. The same difference (between the high/low and the open/close) is then subtracted from the other pivot's high/low. This creates a point at the other pivot bar. A trendline is then drawn between the points.
This creates two trendlines and a zone between the two trendlines. This zone is the one kept and is shown by the script.
You can define the pivot lengths used to find trend zones (defaults to 3/3). You can also define the number of pivots to look back for, to find trend zones and the number of active zones, both of these defaults to 3. You can also choose to let the script create new zones based on time ("Oldest") or the zone that is furthest away in price, this defaults to be based on time but it can be useful for letting the script remove the one which is furthest away in price. Another useful setting is the one called "Cross source". This defines the price that has to cross the trend zone to make it invalid (broken). This defaults to "Close", i.e. the bar has to close on the "wrong side" of the trend zone.
The current zones are shown with an extension to the right, but you can also choose to keep the previous lines (without extension). Please note that kept zones are only the ones that are broken, not the replaced ones. I.e. the zones that are kept are the ones that are crossed by the user defined "cross source" (defaults to the closing/current price of the bar).
Hope this makes sense, let me know if you have any questions.
Best of trading luck!
Unlocking the Power of Long Candle MidpointI'm excited to share with you a fascinating concept that can help you identify potential breakout points in the market.
The Pine Script code provided below is designed to identify the midpoint of a long candle, which can be a crucial level for traders to watch.
In this blog post, we'll dive deeper into the concept, explore its applications, and analyze a real-life example of TATACHEM listed on NSE, which is currently trading around a potential psychology line.
What is the Long Candle Midpoint?
The long candle midpoint is a technical indicator that calculates the midpoint of a candlestick that has a significant price movement. This midpoint is then used to draw a horizontal line, which can serve as a potential support or resistance level. The idea is that if a candlestick has a large price movement, it's likely that the market will react to this movement by testing the midpoint of the candle.
How Does the Long Candle Midpoint Indicator Work?
The Pine Script code provided above is designed to calculate the midpoint of a long candle based on the following parameters:
Length: The length of the candlestick is calculated using the len input parameter.
Line Length: The length of the line is calculated using the linExt input parameter.
Calculation Method: The calculation method can be set to either "Highest True Range", "Average True Range", or "Both".
Multiplier: The multiplier is used to adjust the midpoint calculation based on the average range of the candlestick.
The script then plots a horizontal line at the midpoint of the long candle, which can be used as a potential support or resistance level.
Real-Life Example:
Let's take a look at TATACHEM, a stock listed on the National Stock Exchange of India (NSE). As you can see in the chart below,
TATACHEM has been trading around a potential psychology line drawn from the midpoint of a large candle.
As you can see, the stock has previously failed to break above this line, but it's currently trading around it. This could be a sign that the market is preparing for a potential breakout. If the stock can break above this line, it could lead to a bullish rally.
Conclusion
The long candle midpoint indicator is a powerful tool that can help traders identify potential breakout points in the market. By analyzing the midpoint of a long candle, traders can gain insights into the market's sentiment and potential areas of support or resistance.
In the case of TATACHEM, the stock is currently trading around a potential psychology line, which could be a sign of a potential breakout. Traders can consider this point in their watch list for a potential entry. Tips for Traders
Use the long candle midpoint indicator in conjunction with other technical indicators to gain a more comprehensive understanding of the market.
Look for confirmation from other indicators before entering a trade.
Set stop-loss and take-profit levels based on the potential breakout point.
Monitor the market closely and be prepared to adjust your strategy if the market doesn't behave as expected.
By incorporating the long candle midpoint indicator into your trading strategy, you can gain an edge in the market and make more informed trading decisions.
Wave Consolidation [LuxAlgo]The Wave Consolidation indicator uses market profiles to highlight consolidation zones based on upward and downward moves determined when a Higher-High or Lower-Low is created.
Users can control the amount of consolidation zones to display and the sensitivity of the swing point detection used to return those zones.
🔶 USAGE
These zones are intended as areas of interest to traders where price has seen historical interactions, which can be interpreted as support and resistance. By identifying these areas of interest before the price returns to them, traders are able to anticipate and prepare for various scenarios and respond dynamically to the behavior of the market, as seen below.
Rejection: A quick move away from the zone may indicate that the area is either overvalued or undervalued, leading to a fast movement in the opposite direction.
Breakthrough: Moving beyond a zone could indicate acceptance at that specific price, potentially signaling a shift in momentum or the start of a new trend. In a strong major trend, zones created from smaller trends could be used as price targets for taking profit and managing risk.
Consolidation: Holding these zones might suggest a market in balance at these levels, this could lead to opportunities for range-bound trading.
Below is an example of the Rejection and Consolidation scenarios described above.
Note: By analyzing the tests and retests of these zones, traders can also gain further insight into where participants are interacting in the market.
🔶 DETAILS
The full process for acquiring and managing these zones is described in the sub-sections below.
🔹 Creation
By only considering market movements creating a higher-high or lower-low, we can identify meaningful, directional, moves which can then be used to calculate zones.
Once a move is identified, the script calculates a volume profile spanning the length of the given move.
The width of the zones is determined starting from the POC of the profile and expanding outwards until the value of the profile's row falls below the profile's average.
Note: By increasing the "Multiplier" Input, Users can increase the threshold the script uses to determine zone width in multiples of Standard Deviations above the Average.
While this area is similar to a VP Value Area, it is not intended to replicate a value zone. The calculation is not concerned with capturing any % of the total profile's volume within the zone and only analyzes based on a fixed inclusion threshold.
🔹 Management
To keep clutter to a minimum, If a new zone overlaps a recently created zone, the zones are grouped as one. This is especially helpful in areas where prices are ranging, creating multiple zones in a very similar area.
Zones before management:
Zones after management:
🔹 Deletion
Just because a zone is crossed, does not make it immediately unimportant!
Once a Zone is mitigated (crossed in the opposite direction of its bias) it is reduced to a single dotted line representing the outer threshold for the zone. These lines are important to watch, as the price will often retest a break. For this reason, they will stay on the chart until the next swing point is detected when they will finally be deleted for good.
Below is an example of activity around a broken zone before it is deleted.
Below is the same example 2bBars later , once the new swing is confirmed, the dotted lines are deleted and new zones are created.
Notice how the newly formed resistance zone is in the same area where we noticed sellers previously.
🔶 SETTINGS
🔹 Structure
Display Structure: Determines if swing structures are displayed.
Structure Length: Sets Length for structure identification.
🔹 Zones
Volume-Based Calculations: Opt to use a "Volume" based Profile Calculation instead of the default "Price Action" based Calculation.
Display Count: Sets the specific number of bullish and bearish zones to display on the chart.
Multiplier: Sets the multiplier to use for the value cut-off for determining zone boundaries.
🔹 Style
Display Average Lines: Toggles on/off the average (mid) lines for the zones.
Initial Balance [UkutaLabs]█ OVERVIEW
The Initial Balance Indicator is a powerful trading tool that indicates a strong range based on the high and low of the first hour after market open. This range serves as a potential area of Support or Resistance that traders should be aware of during their trading. Because of this, the Initial Balance Indicator is a versatile trading tool that can be included in a wide variety of trading strategies.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
When the New York Market opens each day, the script will automatically identify and label the opening range of the first hour of the trading day in real time.
Because there tends to be a spike in volume during this period, the range that is identified can serve as a powerful indication of overall market strength. Once the price breaks out of this range, it then can be used as an area of support or resistance depending on the direction of the breakout.
█ SETTINGS
Configuration
• Display Mode: Determines the number of days that the script should load.
• Show Labels: Determines whether identifying labels are drawn on the chart as well.
• Initial Balance Color: Determines the color of the range and labels that are drawn by the indicator.
• Extension Levels: Determines the number of extension levels that should be drawn on either side of the range. These levels are drawn at an interval of half the width of the Initial Balance range.
• Extension Levels Color: Determines the color of the extension level lines.
Pivot Levels [UkutaLabs]█ OVERVIEW
The Pivot Levels Indicator provides real-time insight into key price levels within the market that can serve as powerful support and resistance levels. These levels are based on currently-relevant price-action information to ensure that the lines being drawn provide the most value to traders regardless of their trading style.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
At the beginning of each trading day, the script will identify the previous day’s hlc3 level. We refer to this level as the day’s Source Level, and it is from this price that the other Resistance and Support levels are calculated.
The script then identifies the total price range of the previous day (Previous Day High - Previous Day Low), then draws Resistance and Support lines based on the Source Level and the previous day’s range.
The script identifies these levels on both sides of the Source. Levels above the Source are considered to be points of Resistance and below the Source are considered to be Support, but the levels are free to be interpreted and used in whatever way fits the user’s trading strategy.
A label is drawn at the end of each line that identifies the line and whether it represents support or resistance. These labels can be disabled in the settings.
█ SETTINGS
Configuration
• Show Labels: Determines whether or not labels are displayed at the end of each line.
• Display Mode: Determines the number of days for the script to load.
Line Settings
• Resistance Color: Determines the color of the resistance lines and labels above the Source Level.
• Source Color: Determines the color of the source line and label.
• Support Color: Determines the color of the support lines and labels below the Source Level.
• Line width: Determines the width of lines.
• Line Style: Determines the style of lines.
Psychological Levels [UkutaLabs]█ OVERVIEW
The Psychological Levels Indicator provides real-time insight into key price levels within the market that can serve as powerful support and resistance levels. These levels are updated automatically in real time to display only the most relevant levels to the current price, facilitating your trading experience.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
On each tick, the nearest key price level is automatically identified by the script. The script will identify this level based on the price of the commodity you are applying it to:
• Commodities priced at $0 to $999.99 will identify the nearest whole dollar.
• Commodities priced at $1,000 to $9,999.99 will identify the nearest $10.
• Commodities priced at $10,000 to $99,999.99 will identify the nearest $100.
• Commodities priced over $100,000 will identify the nearest $1,000.
We refer to this rounding price as the gap price, and it is also used to determine the prices of the other lines drawn by this script.
After identifying the nearest key price level, the script then incrementally draws lines on either side of this level at an interval of the gap price. We refer to these as the Major Lines, and the user can control the number of these lines that get drawn, the style of these lines, and they can be disabled in the settings.
The script then draws lines at the half-way point between each of these Major Lines, and we refer to these as the Minor Lines. Like the Major Lines, the user has full control over the number of these lines that can be drawn, the style of these lines, and they can be disabled in the settings.
█ SETTINGS
Configuration
• Number of Lines: Determines the number of lines that are drawn on either side of the key price line. This controls both the number of Major Lines and Minor Lines.
Line Settings
• Major Lines: Determines whether or not the Major Lines will be displayed.
- Color: Determines the color of Major Lines.
- Style: Determines the style of Major Lines.
- Width: Determines the width of Major Lines
• Minor Lines: Determines whether or not the Minor Lines will be displayed.
- Color: Determines the color of Minor Lines
- Style: Determines the style of Minor Lines
- Width: Determines the width of Minor Lines
Opening Range Breakout [UkutaLabs]█ OVERVIEW
The Opening Range Breakout is a powerful trading tool that indicates a strong range based on the high and low of the first fifteen or thirty minutes after market open. This range serves as a potential area of Support or Resistance that traders should be aware of during their trading. Because of this, the Opening Range Breakout is a versatile trading tool that can be included in a wide variety of trading strategies.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
When the New York Market opens each day, the script will automatically identify and label the opening range in real time. The user can control whether the script measures the first 15 or 30 minutes of each trading day to fit each trader’s trading style.
Because there tends to be a spike in volume during this period, the range that is identified can serve as a powerful indication of overall market strength. Once the price breaks out of this range, it then can be used as an area of support or resistance depending on the direction of the breakout.
█ SETTINGS
Configuration
• Show Labels: Determines whether labels are drawn within the range.
• Display Mode: Determines the number of days the script should load.
Range Settings
• 15 Minute: Determines whether or not the 15 minute range is drawn.
• 15 Minute Color: Determines the color of the 15 minute range and labels.
• 30 Minute: Determines whether or not the 30 minute range is drawn.
• 30 Minute Color: Determines the color of the 30 minute range and labels.
Open High Low Close [UkutaLabs]█ OVERVIEW
The Open High Low Close indicator is a powerful trading tool which generates resistance and support levels based on the previous day’s Open, High, Low and Close prices. These levels may act as strong levels of support and resistance, granting traders insight into key price levels.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
At the beginning of each trading day, the script will automatically identify the previous day’s high, low, open and close prices. After identifying these levels, the script will then display them as a line on the chart.
Each line also has a label at the end indicating which level it represents. These labels can be toggled in the indicator's settings.
These levels are based on relevant price-action information and may serve as potentially powerful Support and Resistance levels that can be included in a variety of trading strategies.
█ SETTINGS
Configuration
• Show Labels: Determines whether or not identification labels are drawn on each line.
• Display Mode: Determines the number of days the script should load.
• OHLC Color: Determines the color of the lines and labels.
Fibonacci Pivot Levels [UkutaLabs]█ OVERVIEW
The Fibonacci Pivot Levels Indicator provides real-time insight into key price levels within the market that can serve as powerful support and resistance levels. These levels are based on currently-relevant price-action information as well as key Fibonacci ratios to ensure that the lines being drawn provide the most value to traders regardless of their trading style.
The Fibonacci levels are a powerful form of technical analysis that allows traders to predict future potential price support and resistance levels.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
At the beginning of each trading day, the script will identify the previous day’s hlc3 level. We refer to this level as the day’s Source Level, and it is from this price that the other Resistance and Support levels are calculated.
The script then identifies the total price range of the previous day (Previous Day High - Previous Day Low), then incrementally draws lines at a distance of the previous day’s range multiplied by key Fibonacci ratios from the Source Level.
The script identifies these levels on both sides of the Source. Levels above the Source are considered to be points of Resistance and below the Source are considered to be Support, but the levels are free to be interpreted and used in whatever way fits the user’s trading strategy.
A label is drawn at the end of each line that displays the Fibonacci ratio that was used to calculate it as well as the price that the line represents. These labels can be disabled in the settings.
█ SETTINGS
Configuration
• Display Mode: Determines how many days the script will draw lines for.
• Show Labels: Determines whether or not labels are drawn at the end of each line.
Line Colors
• Resistance Color: Determines the color of Resistance Lines drawn above the Source.
• Source Color: Determines the color of the Source Line.
• Support Color: Determines the color of Support Lines drawn below the Source.
Line Settings
• Line Width: Determines the width of all lines.
• Line Style: Determines the style of all lines.
Premarket Levels [UkutaLabs]█ OVERVIEW
The Premarket Levels indicator measures the premarket high and low of any given market. The Premarket Levels creates potential strong resistance and support levels based on the premarket high and low which traders can use to gauge the market outlook ahead of the regular open.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
At the beginning of the New York Session of each trading day at 1:30pm UTC time, this script will automatically identify the High and Low prices since the market opened at 10:00pm the night before. This happens automatically and in real time, ensuring that traders have access to this information as soon as the market is open.
These lines will extend until the end of the trading day, and also contain labels that display the price of each line. These labels can be disabled in the indicator's settings.
These levels indicate the total range of the market for that day until the open of the New York Session, and can be treated as levels of Support and Resistance after the market has opened.
█ SETTINGS
Configuration
• Show Labels: Determines whether labels are drawn within the range.
• Display Mode: Determines the number of days the script should load.
Range Settings
• High Color: Determines the color of the high lines and labels.
• Low Color: Determines the color of the low lines and labels.
Pre-COVID High and COVID LowOverview
The "Pre-COVID High and COVID Low" indicator is designed to identify and mark significant price levels on your chart, specifically targeting the pre-COVID-19 high and the low during the initial COVID-19 market impact. This script is particularly useful for traders who are interested in analyzing how stocks or other financial instruments reacted during the onset of the COVID-19 pandemic, providing a historical perspective that may help in making informed trading decisions.
How It Works
Date Ranges : The script uses predefined date ranges to calculate the highest and lowest price levels before and during the early stages of the COVID-19 pandemic. These ranges are:
Pre-COVID High: Between January 1, 2020, and March 31, 2020.
COVID Low: Between March 1, 2020, and March 31, 2020.
Calculation Method :
The highest price during the pre-COVID period is tracked and recorded as the "Pre-COVID High".
The lowest price during the specified COVID period is tracked and recorded as the "COVID Low".
Visibility Conditions : The script includes logic to ensure that these historical levels are only displayed if they fall within a range close to the current visible price range on the chart. This prevents the indicator from compressing the price scale unduly.
How to Use It
Adding to Your Char t: To use this indicator, add it to any chart on TradingView. It works best with daily time frames to clearly visualize the impact over these specific months.
Interpretation :
The "Pre-COVID High" is marked with a red line and is labeled the first day it becomes applicable.
The "COVID Low" is marked with a green line and is similarly labeled on its applicable day.
Trading Strategy Consideration : Traders can use these historical levels as potential support or resistance zones for their trading strategies. These levels can indicate significant price points where the market previously showed strong reactions.
Percentage GridPercentage Grid Indicator
Description:
The Percentage Grid indicator is designed to assist traders in identifying significant support and resistance levels based on yearly percentage changes. This indicator plots horizontal lines on the chart from the start of the year, allowing you to customize how much percentage each line represents. Currently, you can set up to 5 horizontal lines, each representing a different percentage change from the beginning of the year.
For instance, when applied to the SBI Bank stock, you can customize the lines to display various percentage changes from the start of the year, such as 20%, 25%, and up to 35%, as the SBIN stock is currently trading around these levels. This visualization helps traders to easily identify key levels where price action tends to react, providing valuable insights for making trading decisions.
Principles of Trading Technical Analysis:
The Percentage Grid indicator is grounded in the principle of support and resistance levels, which are fundamental concepts in technical analysis. These levels are specific price points on a chart that tend to act as barriers, preventing the price from getting pushed in a certain direction. The indicator helps in:
Identifying Support Levels: Price levels where a downtrend can be expected to pause due to a concentration of buying interest.
Identifying Resistance Levels: Price levels where an uptrend can be expected to pause due to a concentration of selling interest.
By customizing and plotting percentage-based horizontal lines, the indicator highlights these critical levels based on the percentage change from the start of the year.
How to Use:
Add the Indicator to Your Chart:
Search for "Percentage Grid" in the TradingView indicator library and add it to your chart.
Customize Percentage Levels:
Access the indicator settings to customize the percentage change each line represents.
You can set up to 5 different percentage levels. For example, you can set lines at 20%, 25%, 30%, 35%, and 40%.
Interpret the Grid Lines:
The plotted lines will represent the specified percentage changes from the start of the year.
Use these lines to identify potential support and resistance levels where price action is likely to react.
Practical Application:
Look for price bounces or reversals around these levels, which can indicate strong support or resistance.
Combine the Percentage Grid with other technical analysis tools, such as moving averages or trend lines, to confirm potential trading opportunities.
Example:
In the accompanying screenshot, the Percentage Grid is applied to the SBI Bank stock. The lines are set to display 20%, 25%, 30%, 35%, and 40% changes from the start of the year. Notice how the price action respects these levels, providing clear areas where support and resistance are evident.
By incorporating the Percentage Grid into your trading strategy, you can enhance your ability to identify key price levels and make more informed trading decisions.
Happy Trading!
