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Key Levels (Open, Premarket, & Yesterday)OVERVIEW This indicator automatically identifies and draws recent high-probability support and resistance levels (recent key levels). Specifically, yesterdays highs / lows, premarket highs / lows, as well as yesterdays end of day Volume Weighted Average Price and trader specified Moving Average. This is most useful on charts with intraday time frames (1 minute, 5 minute etc.) commonly used for day trading. This is not ideal for larger time frames (greater than 1 hour) commonly used for swing trading or identifying larger trends. INPUTS You can configure: Line size, style, and colors Label colors Which key levels you want to see Moving Average Parameters Market Hours and Time Zone DEV NOTES This script illustrates: A method for iterative management of more complex data objects (not just discrete values) with loops and arrays.
Pine Script® 인디케이터
liquid-trader의
305
Support Resistance Classification [LuxAlgo]The Support Resistance Classification indicator shows SR levels from a user-defined range using higher time-frame data (HTF). Levels are classified 1 through 10 based on their strength, with lower values indicating stronger support/resistance levels. This indicator doesn't use visible range functionality, in contrast to our Support Resistance Classification (VR) indicator, it uses a set lookback period to find support/resistance levels. Since both techniques cannot be used together in 1 script, we developed a separate, NON-VR version. 🔶 USAGE Certain indicators on higher timeframes can provide longer-term support/resistance levels on lower timeframes. Users can use the provided levels and use them as references for future support/resistance levels. The classification algorithm measures the strength of a support/resistance level using the set range and is in a range of 1 to 10, with higher values indicating a weaker support/resistance. Supports/resistances highlighted by the indicator can be used for future applications by marking them on the chart (quickly done with alt + h). 🔶 DETAILS All calculations are based on what is seen in the last amount of bars, which is the period between the blue vertical line and the last candle: Since only Swings which are not broken are included, every break would exclude that swing. Therefore, even when 'value' is chosen at Settings ('Value'), breaks are always calculated on the entire line. 🔶 SETTINGS Lookback: Amount of bars from current bar to x bars back , this is the period where support/resistance levels are calculated. Fade: After x breaks the line becomes invisible Value: value:     • SMA, upper/lower: the breaks are triggered on the moving average itself     • Fibonacci Pivot Point levels, Previous High, Previous Low: only last HTF values can be used for breaks     • Swings (see SWING SETTINGS) line:     • SMA, upper/lower: the breaks are triggered on the entire line, based on its latest value     • Fibonacci Pivot Point Levels, Previous High, Previous Low: breaks are triggered on the entire line, based on its latest value     • Swings (see SWING SETTINGS) 🔹 Swing Settings Swings are always calculated at the current timeframe, setting an HTF is not applicable to Swings. Left/Right: for Swing calculation ( pivothigh , pivotlow ) Show: enables you to see the pivot points 🔹 Set N°: The concerning number TYPE:     • SMA (Simple Moving Average)     • Previous High/Low     • Upper/Lower ( Bollinger Bands )     • Pivot Point levels : "Fibonacci" LENGTH: sets the 'Number of bars', needed for calculations (applicable for SMA, upper/lower) MULT: sets the 'Standard deviation factor' (only applicable for upper/lower - BB) HTF: sets 'Higher Time Frame' (applicable for SMA, upper/lower, Previous High/Low, Fibonacci) 🔹 Show Values You can make up to 5 values visible (if you want to check/verify), except for Swings (see SWING SETTINGS) To do so, enable (A -> E), and choose the N° you want to see. This also is a useful tool if you're not sure which value you want to set.
Pine Script® 인디케이터
LuxAlgo의
22
Weekly Range Support & Resistance Levels [QuantVue]Weekly Range Support & Resistance Levels Description: The Weekly Range Support & Resistance Levels analyzes weekly ranges and takes the average range of the last 30 weeks (default setting). It also takes the average +/- a standard deviation, and creates support & resistance levels/zones based on the weekly opening price. The levels will update each week, and previous weekly levels can be toggled on or off. Settings: 🔹Averaging Period 🔹Standard Deviation Multiplier 🔹Toggle Support & Resistance Prices 🔹Show Weekly Open Line 🔹Show Previous Levels Don't hesitate to reach out with any questions or concerns. We hope you enjoy! Cheers.
Pine Script® 인디케이터
QuantVue의
7
Swing Volume Profiles [LuxAlgo]The Swing Volume Profiles indicator aims to calculate and highlight trading activity at specific price levels between two swing points; allowing traders to reveal dominant and/or significant price levels based on volume. By measuring traded volume at all price levels in the market over a specified time period, the script can also be used to detect some key analysis generally such as supply & demand, buy-side & sell-side liquidity levels, unfilled liquidity voids, and imbalances that can highlight on the chart. 🔶 USAGE A volume profile is an advanced charting tool that displays the traded volume at different price levels over a specific period. It helps you visualize where the majority of trading activity has occurred. Key Levels are the areas where the volume is concentrated or where there are significant volume spikes. These levels are known as key support and resistance levels. High-volume nodes indicate areas of high activity and are likely to act as support or resistance in the future. Volume profile also helps identify value areas, which represent the price levels where the most trading activity has taken place. These levels can act as areas of support or resistance as traders perceive them as fair value. The Point of Control describes the price level where the most volume was traded. A Naked Point of Control (also called a Virgin Point of Control) is a previous POC that has not been traded. Extending PoC options 'Until Bar Cross' or 'Until Bar Touch' helps in identifying Naked Point of Control Lines. Previous PoC levels can serve as support and resistance for future price movements. Extending PoC Level 'Until Last Bar' option will help to identify such levels. 🔶 DETAILS One of the unique features of the script is its ability to detect some other key levels such as levels of acceptance and rejection. Levels of rejection we may summarize as supply and demand levels, these are also referred to as buy-side and sell-side liquidity levels. They usually occur at extreme highs or lows, where prices may be too high for buyers (high supply, low demand) or too low for sellers (low supply, high demand) Levels of acceptance are the levels where Liquidity Voids occur, these are also referred to imbalances. Liquidity voids are sudden changes in price when the price jumps from one level to another. The peculiar thing about liquidity voids is that they almost always fill up, so we call them levels of acceptance. 🔶 ALERTS When an alert is configured, the user will have the ability to be notified in case: Point Of Control Line is touched/crossed Value Area High Line is touched/crossed Value Area Low Line is touched/crossed 🔶 SETTINGS 🔹 Display Options Mode: Controls the lookback length of detection and visualization, where Present assumes last X bars specifid in '# Bars' option and Historical assumes all data available to the user as well as allowed limits of visiual objects (boxs, lines, labels etc) # Bars: Controls the lookback length. 🔹 Swing Volume Profiles The script takes into account user-defined parameters and plots volume profiles. Due to Pine Script™ drwaing objects limit only total volume profiles are presented. Swing Detection Length: Lookback period Swing Volume Profiles: Toggles the visibility of the Volume Profiles, with color options to differentiate the Value Area within a profile. Profile Range Background Fill: Toggles the visibility of the Volume Profiles Range 🔹 Point of Control (PoC) Point of Control (POC) – The price level for the time period with the highest traded volume Point of Control (PoC): Toggles the visibility of the Point of Control Developing PoC: Toggles the visibility of the Developing PoC Extend PoC: Option that allows detecting virgin PoC levels. Virgin Point of Control (VPoC) is defined as a Point of Control that has never been revisited or touched. The option also allows PoC levels to extend till the last bar aiming to present levels from history where the levels were traded significantly and those levels can be used as support and resistance levels. 🔹 Value Area (VA) Value Area (VA) – The range of price levels in which the specified percentage of all volume was traded during the time period. Value Area Volume %: Specifies percentage of the Value Area Value Area High (VAH): Toggles the visibility of the Value Area High, the highest price level within the Value Area Value Area Low (VAL): Toggles the visibility of the Value Area Low, the lowest price level within the Value Area Value Area (VA) Background Fill: Toggles the visibility of the Value Area Range 🔹 Liquidity Levels / Voids Unfilled Liquidity, Thresh: Enable display of the Unfilled Liquidity Levels and Liquidity Voids, where threshold value defines the significance of the level. 🔹 Profile Stats Position, Size: Specifies the position and the size of the label presenting Profile Stats, the tooltip of the label includes all related info for each profile. Price, Price Change, and Cumulative Volume: Enable display of the given options on the chart. 🔹 Volume Profile Others Number of Rows: Specify how many rows each histogram will have. Caution, having it set to high values will quickly hit Pine Script™ drawing objects limit and may cause fewer historical profiles to be displayed. Placement: Place profile either left or right. Profile Width %: Alters the width of the rows in the histogram, relative to the calculated profile length. 🔶 RELATED SCRIPTS Alternative Liquidity Void Detection script, Buyside-Sellside-Liquidity
Pine Script® 인디케이터
LuxAlgo의
37
AggBands (v1) [qrsq]The "AggBands" indicator is a custom trading indicator designed to provide a consolidated view of the price action across multiple assets or trading pairs. It combines the price data from multiple tickers and calculates an aggregated price using user-defined weights for each ticker. The indicator starts by defining the tickers to be included in the aggregation. You can choose from predefined configurations such as "BTC PAIRS," "CRYPTO TOTAL MARKET CAP," "TOP 5 PAIRS," "TOP 5 MEMECOINS," "SPX," "DXY," or "FANG." Each configuration includes specific tickers or indices relevant to the chosen category. The indicator then fetches the closing, high, and low prices for each ticker and applies the user-defined weights to calculate the aggregated prices. The aggregated prices are normalized within a specified length to provide a consistent scale across different assets or pairs. Next, the indicator calculates the midpoint, which is the average of the highest high and lowest low of the aggregated prices over a specified aggregation period. To assess the volatility, the indicator calculates the price range and applies the Average True Range (ATR) indicator to determine the volatility value. The standard deviation is then computed using the price range and aggregation period, with an additional scaling factor applied to the volatility value. Based on the standard deviation, the indicator generates multiple bands above and below the midpoint. By default, three standard deviation bands are calculated, but the user can choose between one and five bands. The upper and lower bands are smoothed using various moving average (MA) types, such as Simple Moving Average (SMA), Exponential Moving Average (EMA), Smoothed Moving Average (SMMA/RMA), Weighted Moving Average (WMA), Volume Weighted Moving Average (VWMA), Volume Weighted Average Price (VWAP), or Arnaud Legoux Moving Average (ALMA). The user can also adjust the length, offset, and sigma parameters for the moving averages. The indicator can optionally smooth the midpoint, upper bands, and lower bands using a separate set of moving average parameters. The indicator can be useful for traders and analysts who want to gain a consolidated view of price movements across multiple assets or trading pairs. It helps identify trends, volatility, and potential support and resistance levels based on the aggregated price and standard deviation bands. Traders can use this information to make informed decisions about trading strategies, risk management, and market analysis.
Pine Script® 인디케이터
qrsq의
Support Resistance Classification (VR) [LuxAlgo]The Support Resistance Classification (VR) indicator shows SR levels on any chart's visible range using higher time-frame data (HTF). Levels are classified 1 through 10 based on their strength, with lower values indicating stronger support/resistance levels. This indicator uses visible range functionality, whereas if you adjust your chart to show previous price data, the indicator may show new levels. 🔶 USAGE Certain indicators on higher timeframes can provide longer term support/resistance levels on lower timeframes. Users can use the provided levels on a chart visible range and use them as reference for future support/resistance levels. The classification algorithm measures the strength of a support/resistance level using the entire chart visible range and is in a range of 1 to 10, with higher values indicating a weaker support/resistance. Supports/resistances highlighted by the indicator can be used for future applications by marking them on the chart (quickly done with alt + h). 🔶 DETAILS All calculations are based on what you see on the Visible Chart, as such changing the chart will recalculate the indicator. Since only Swings which are not broken are included, every break would exclude that swing. Therefore, even when 'value' is chosen at Settings ('Value'), breaks are always calculated on the entire line. 🔶 SETTINGS Fade: After x breaks the line becomes invisible Value: value:     • SMA, upper/lower: the breaks are triggered on the moving average itself     • Fibonacci Pivot Point levels, Previous High, Previous Low: only last HTF values can be used for breaks     • Swings (see SWING SETTINGS) line:     • SMA, upper/lower: the breaks are triggered on the entire line, based on its latest value     • Fibonacci Pivot Point Levels, Previous High, Previous Low: breaks are triggered on the entire line, based on its latest value     • Swings (see SWING SETTINGS) 🔹 Swing Settings Swings are always calculated at current timeframe, setting a HTF is not applicable on Swings. Left/Right: for Swing calculation ( pivothigh , pivotlow ) Show: enables you to see the pivot points 🔹 Set N°: The concerning number TYPE:     • SMA (Simple Moving Average)     • Previous High/Low     • Upper/Lower ( Bollinger Bands )     • Pivot Point levels : "Fibonacci" LENGTH: sets the 'Number of bars', needed for calculations (applicable for SMA, upper/lower) MULT: sets the 'Standard deviation factor' (only applicable for upper/lower - BB) HTF: sets 'Higher Time Frame' (applicable for SMA, upper/lower, Previous High/Low, Fibonacci) 🔹 Show Values You can make up to 5 values visible (if you want to check/verify), except for Swings (see SWING SETTINGS) To do so, enable (A -> E), and choose the N° you want to see. This also is a useful tool if you're not sure which value you want to set.
Pine Script® 인디케이터
LuxAlgo의
20
Moving Averages + BB & R.VWAP StDev (multi-tf)█ Moving Averages + Bollinger Bands and Rolling Volume Weighted Average Price with Standard Deviation Bands (Multi Timeframe) Multiple moving averages can be independently applied. The length , type and timeframe of each moving average are configurable . The lines and colors are customizable too. This script can display: Moving Averages Bollinger Bands Rolling VWAP and Standard Deviation Bands Types of Moving Averages: Simple Moving Average (SMA) Exponential Moving Average (EMA) Smoothed Moving Average (SMMA) Weighted Moving Average (WMA) Volume Weighted Moving Average (VWMA) Least Squares Moving Average (LSMA) Hull Moving Average (HMA) Arnaud Legoux Moving Average (ALMA) █ Moving Average Moving Averages are price based, lagging (or reactive) indicators that display the average price of a security over a set period of time. A Moving Average is a good way to gauge momentum as well as to confirm trends, and define areas of support and resistance. █ Bollinger Bands Bollinger Bands consist of a band of three lines which are plotted in relation to security prices. The line in the middle is usually a Simple Moving Average (SMA) set to a period of 20 days (the type of trend line and period can be changed by the trader, a 20 day moving average is by far the most popular). The SMA then serves as a base for the Upper and Lower Bands which are used as a way to measure volatility by observing the relationship between the Bands and price. █ Rolling VWAP The typical VWAP is designed to be used on intraday charts, as it resets at the beginning of the day. Such VWAPs cannot be used on daily, weekly or monthly charts. Instead, this rolling VWAP uses a time period that automatically adjusts to the chart's timeframe. You can thus use the rolling VWAP on any chart that includes ​volume information in its data feed. Because the rolling VWAP uses a moving window, it does not exhibit the jumpiness of VWAP plots that reset. Based on the previous script :
Pine Script® 인디케이터
Yatagarasu_의
3
Volume Support and Resistance*In a cutting system, from the lowest price of the red momentum to the highest price of the green momentum of the range of candles, cuts of different heights are created and the volume of transactions is calculated. *Volumes in red and green candles each layer are calculated separately. *The start of the candles can be from a candle other than zero. *The maximum number of cuts for support or resistance will be separate and user-opinionated. This will help us see the most accurate support or resistance independently and quickly. *The layer that has (1) the highest volume ratio of green to red, (2) the lowest number of red candles and (3) the highest number of green candles is considered as the best resistance and vice versa as the best support. Therefore, by changing the maximum number of cuts, we should look for the largest ratio of green to red volume for resistance and vice versa for support. *If the current price is in the range of the momentum candle, the distance of the highest or lowest price of the momentum to hlc3 of the momentum candle will be checked. *if you get an error message (> 500ms), reduce high_slice or loockback. *Trading volume is formatted because it varies from very small to very large numbers in different markets and time periods.
Pine Script® 인디케이터
ehsanhasanabadi의
12
Anchored VWAP Pinch & Handoff, Intervals, and Signals"Anchored VWAP Pinch & Handoff, Intervals, and Signals" is an AVWAP toolbox for those who like to use various VWAP trading techniques. The indicator is currently comprised of the following three sections: • The Pinch & Handoff section (shown above on chart) allows manually setting an upper and lower AVWAP (Pinch) along with an additional AVWAP (Handoff) by entering dates or by dragging the vertical anchor lines to the desired significant events on chart. Each of these three AVWAPs can also be set to show zones above and/or below by a percentage or standard deviation amount. The theory behind this method is that the upper and lower AVWAPs may act as dynamic support and resistance levels, effectively creating a price range or channel. As price moves between these two VWAP levels, it becomes squeezed or consolidated within that range. Further conjecture is that the longer the price remains within the range of the two anchored VWAP values, the higher the potential for an explosive breakout. Traders using this strategy may interpret the prolonged consolidation as a period of price compression, with the expectation that a significant move in either direction is likely to occur. Traders employing the AVWAP Pinch strategy might look for specific chart patterns or additional confirmation signals to enter a trade. For example, a breakout above the upper anchored VWAP level could trigger a long trade, while a breakdown below the lower anchored VWAP level could signal a short trade. Stop-loss orders and profit targets are typically set based on the trader's risk tolerance and the volatility of the asset. The third AVWAP (Handoff) is typically set after price has broken through the Pinch, and is used as a new level of support or resistance. The "Pinch & Handoff" phrase is believed to have been coined by Brian Shannon, who has popularized this method. • The Intervals section (shown above on chart) is comprised of six periodic AVWAPs which cyclically reset. Their default settings are 1 Day, 2 Days, 1 Week, 1 Month, 1 Quarter, and 1 Year. They each may be set to desired period and when they are enabled the VWAPs whose periods are lower than the current chart timeframe are automatically hidden. For example a 1 Day AVWAP is not useful on a 1 Week chart so it would be hidden from that timeframe. When using AVWAPs from higher timeframes it may be helpful to set your chart to "Scale price chart only". This can be enabled by right clicking on your chart's price column and then left clicking "Scale price chart only" to enable that option. • The Auto section (shown above on chart) is comprised of two automatic Anchored VWAPs. There are choices for setting anchors automatically based upon Highest Source, Highest Volume, Lowest Source, Lowest Volume, Pivot High, and Pivot Low. Because these two VWAPs work retroactively they are drawn with lines instead of plots. There is currently a limitation of 500 lines that may be drawn at any given time and the logic within this indicator uses a line for every bar of VWAP that is drawn, so if the combined length of both of these VWAPs exceeds 500 bars the earliest lines would disappear. For typical use of looking for the highest high in the last 50 bars or the last fractal this limitation should not be an issue. --- All of the plots have been titled including hidden plots that are generated for the AVWAP line drawings. All of the various types of AVWAP within the indicator should be available as choices within the Alert creation dialog if use of alerts is desired. --- NOTICE: This is an example script and not meant to be used as an actual strategy. By using this script or any portion thereof, you acknowledge that you have read and understood that this is for research purposes only and I am not responsible for any financial losses you may incur by using this script!
Pine Script® 인디케이터
allanster의
45
Buyside & Sellside Liquidity [LuxAlgo]The Buyside & Sellside Liquidity indicator aims to detect & highlight the first and arguably most important concept within the ICT trading methodology, Liquidity levels. 🔶 SETTINGS 🔹 Liquidity Levels Detection Length: Lookback period Margin: Sets margin/sensitivity for a liquidity level detection 🔹 Liquidity Zones Buyside Liquidity Zones: Enables display of the buyside liquidity zones. Margin: Sets margin/sensitivity for the liquidity zone boundaries. Color: Color option for buyside liquidity levels & zones. Sellside Liquidity Zones: Enables display of the sellside liquidity zones. Margin: Sets margin/sensitivity for the liquidity zone boundaries. Color: Color option for sellside liquidity levels & zones. 🔹 Liquidity Voids Liquidity Voids: Enables display of both bullish and bearish liquidity voids. Label: Enables display of a label indicating liquidity voids. 🔹 Display Options Mode: Controls the lookback length of detection and visualization, where Present assumes last 500 bars and Historical assumes all data available to the user # Visible Levels: Controls the amount of the liquidity levels/zones to be visualized. 🔶 USAGE Definitions of Liquidity refer to the availability of orders at specific price levels in the market, allowing transactions to occur smoothly. In the context of Inner Circle Trader's teachings, liquidity mainly relates to stop losses or pending orders and liquidity level/pool, highlighting a concentration of buy or sell orders at specific price levels. Smart money traders, such as banks and other large institutions, often target these liquidity levels/pools to accumulate or distribute their positions. There are two types of liquidity; Buyside liquidity and Sellside liquidity . Buyside liquidity represents a level on the chart where short sellers will have their stops positioned, and Sellside liquidity represents a level on the chart where long-biased traders will place their stops. These areas often act as support or resistance levels and can provide trading opportunities. When the liquidity levels are breached at which many stop/limit orders are placed have been traded through, the script will create a zone aiming to provide additional insight to figure out the odds of the next price action. Reversal: It’s common that the price may reverse course and head in the opposite direction, seeking liquidity at the opposite extreme. Continuation: When the zone is also broken it is a sign for continuation price action. It's worth noting that ICT concepts are specific to the methodology developed by Michael J. Huddleston and may not align with other trading approaches or strategies. 🔶 DETAILS Liquidity voids are sudden changes in price when the price jumps from one level to another. Liquidity voids will appear as a single or a group of candles that are all positioned in the same direction. These candles typically have large real bodies and very short wicks, suggesting very little disagreement between buyers and sellers. The peculiar thing about liquidity voids is that they almost always fill up. 🔶 ALERTS When an alert is configured, the user will have the ability to be notified in case; Liquidity level is detected/updated. Liquidity level is breached. 🔶 RELATED SCRIPTS ICT-Concepts ICT-Macros Imbalance-Detector
Pine Script® 인디케이터
LuxAlgo의
54
Liquidity Zones[Angel Algo]OVERVIEW The "Liquidity Zones" indicator is a tool for traders to identify high and low liquidity areas on a chart. The indicator plots the highest and lowest volume levels within a rolling window of a specified period and calculates the corresponding price levels and zones at which those volumes occurred. The calculated areas represent key support and resistance levels in the market. HOW TO USE Once added, the indicator will plot the high and low liquidity zones on the chart based on the settings. Users can then adjust the indicator inputs to customize its behavior and appearance. Additionally, users can set up trading alerts based on the indicator's signals by clicking the "Create Alert" button in the alert section of the indicator's settings. The bar coloring feature helps users identify trends and sideways market conditions. When this feature is enabled, the bars on the chart are colored based on their position relative to the highest volume levels calculated by the indicator. If a bar's closing price is above the zone, the bar is colored green. If the closing price is below the zone, the bar is colored red. If the closing price is between these two levels, the bar is colored blue. This color-coding makes it easy to quickly identify periods of bullish or bearish momentum in the market. When the bars are mostly green, it suggests that buyers are in control and the market is in an uptrend. Conversely, when the bars are mostly red, it suggests that sellers are in control and the market is in a downtrend. The blue bars, on the other hand, indicate a sideways or consolidating market, where neither buyers nor sellers are clearly in control. These periods can be difficult to trade, as there is often a lack of clear direction in price movements. When the Support/Resistance coloring feature is enabled, the indicator colors the high liquidity zones based on whether the opening and closing prices of the latest candle are above or below the zone. If the opening and closing prices are both above the high liquidity zone, the zone is colored green, indicating potential support. Conversely, if the opening and closing prices are both below the high liquidity zone, the zone is colored red, indicating potential resistance. If the opening and closing prices are inside the high liquidity zone, the zone is colored blue, indicating a neutral zone where price may continue to oscillate. This feature can help traders identify potential areas of support and resistance, and provide insights into market sentiment. The indicator also includes trading alerts based on the position of the price relative to the highest volume zones. If the price goes above the zone, the indicator will trigger a bullish signal. If the price goes below the level, the indicator will trigger a bearish signal. SETTINGS The indicator has several customizable inputs that allow users to tailor its behavior to their preferences. These inputs include: Period: The number of bars over which to calculate the highest and lowest volumes. The default value is 20. Recommended value range 10-500. Bar coloring: Whether to color the bars based on their position relative to the high liquidity zones. The default value is false. Support/Resistance coloring: Whether the high liquidity zone should be colorized depending on whether the price is above or below it. The default value is false. Display high liquidity zones: Whether to display the high liquidity zones on the chart. The default value is true. Display low liquidity levels: Whether to display the low liquidity levels on the chart. The default value is false.
Pine Script® 인디케이터
AngelAlgo의
2
Price Action - Support & Resistance + MACD LONG StrategyUsing "Price Action - Support & Resistance by DGT" and the MACD (Moving Average Convergence Divergence) indicator in TradingView can help develop a trade strategy. Here's a step-by-step approach you can follow: 1. Identifying Support and Resistance Levels: Apply the "Price Action - Support & Resistance by DGT" indicator to your chart. This indicator helps you identify key support and resistance levels based on price action. These levels act as potential areas where the price may reverse or consolidate. 2. Confirming Support and Resistance Levels: Once the indicator has plotted support and resistance levels on your chart, analyze the historical price action around these levels. Look for multiple touches or bounces from the same level, which adds strength to the support or resistance zone. 3. Analyzing the MACD Indicator: Add the MACD indicator to your chart. The MACD consists of two lines: the MACD line and the signal line, along with a histogram representing the difference between the two lines. The MACD helps identify momentum and potential trend reversals. When the MACD line crosses above the signal line and the histogram turns positive, it suggests bullish momentum. 4. Identifying Trade Opportunities: Bullish Trade: Look for a bullish setup when the price approaches a strong support level identified by the "Price Action - Support & Resistance by DGT" indicator. Wait for the MACD lines to cross above the signal line and the histogram to turn positive, indicating bullish momentum. Enter a long position with a stop loss below the support level. Managing the Trade: Once you enter a trade, consider setting a target based on the distance between your entry point and the nearest significant support or resistance level. You can also use trailing stop losses or other risk management techniques to protect your profits and limit potential losses. Remember that no trading strategy is guaranteed to be successful, and it's important to practice proper risk management and conduct thorough analysis before making any trading decisions. Additionally, it's recommended to backtest and demo trade this strategy before using it with real money.
Pine Script™ 전략
harveylam814의
1
DB Support Resistance Levels + Smart Higher Highs and Lower LowsDB Support Resistance Levels + Smart Higher Highs and Lower Lows The indicator plots historic lines for high, low and close prices shown in settings as "base levels". Users can control the lookback period that is plotted along with an optional multiplier. Traders will notice that the price bounces off these historic base levels. The base levels are shown as light gray by default (customizable in the settings). Users may choose to display base levels by a combination of historic high, low and close values. On top of the historic base levels, the indicator display higher high and lower low levels from the current bar high/low. Higher highs are shown by default in pink and lower lows by default in yellow. The user can adjust the lookback period for displaying higher highs and the optional multiplier. Only historic values higher than the current bar high are displayed filtering out (by highlighting) the remaining levels for the current bar. Users may choose to use a combination of historic open, low and close values for displaying higher highs. The user can adjust the lookback period for displaying lower lows and the optional multiplier. Only historic values lower than the current bar low are displayed filtering out (by highlighting) the remaining levels for the current bar. Users may choose to use a combination of historic open, low and close values for displaying lower low. The indicator includes two optional filters for filtering out higher highs and lower lows to focus (highlight) the most relevant levels. The filters include KC and a simple price multiplier filter. The latter is enabled by default and recommended. The indicator aims to provide two things; first a simple plot of historic base levels and second as the price moves to highlight the most relevant levels for the current price action. While the indicator works on all timeframes, it was tested with the weekly. Please keep in mind adjusting the timeframe may require the lookback settings to be adjusted to ensure the bars are within range. How should I use this indicator? Traders may use this indicator to gain a visual reference of support and resistance levels from higher periods of time with the most likely levels highlighted in pink and yellow. Replaying the indicator gives a visual show of levels in action and just how very often price action bounces from these highlighted levels. Additional Notes This indicator does increase the max total lines allowed which may impact performance depending on device specs. No alerts or signals for now. Perhaps coming soon...
Pine Script® 인디케이터
thefluffyones의
Dual Dynamic Fibonacci Retracement — Long and Short Duration Title : "The Dual-Dynamic Fibonacci Retracement Script: An Advanced Tool for Comprehensive Market Analysis" As the author of the "Dual-Dynamic Fibonacci Retracement Script", I am delighted to introduce you to this cutting-edge tool for technical analysis. Unlike conventional Fibonacci scripts, this advanced model incorporates multiple unique features and adjustments that make it a powerful asset for any market analyst. Whether you're dealing with forex, commodities, equities or any other market, this script is versatile enough to enhance your trading strategy. Uniqueness & Differentiation: The "Dual-Dynamic Fibonacci Script" stands out by offering two distinct lookback periods. This feature is what separates it from other scripts available in the market. The first lookback period is longer, focusing on capturing broader market trends. The second lookback period is shorter, allowing for a more granular analysis of near-term market fluctuations. This dual perspective provides a more comprehensive view of the market, allowing you to see both the forest and the trees at the same time. Fibonacci Levels: While offering the standard Fibonacci retracement levels (0.236, 0.382, 0.5, 0.618, 0.786, and 1.0), the script also gives you the ability to plot 0.114 and 0.886 levels. These additional levels offer an extra layer of depth to your analysis, and can prove crucial in high-volatility markets where they often serve as significant support and resistance points. Customizable Line Shifts and Extends: This script provides options for customization of the shift and extension of the plotted lines. This means you can adjust the start and end points of the Fibonacci lines according to your personal trading style and strategy. This level of personalization is not typically available in other scripts, and it allows for a more tailored visual representation. Flexible Trading Positioning: Depending on whether the closing price is above or below the midpoint of the pivot high and pivot low, the Fibonacci retracement levels are adjusted accordingly. This ensures the script remains relevant and useful regardless of market conditions. Clean Visualization: To prevent clutter and maintain focus on the most relevant price action, the script removes old Fibonacci lines and plots new ones once a new pivot high or low is identified. This clean visualization helps keep your analysis focused and sharp. How to Use the Script: To get started, simply adjust the lookback periods according to your trading strategy. If you're a long-term investor or prefer swing trading, a longer lookback period might be appropriate. Conversely, if you're a day trader, a shorter lookback period might be more beneficial. The "Shift" and "Extend" inputs allow you to control the positioning of the Fibonacci lines on your chart. Positive values shift the lines to the right, while negative values shift them to the left. You also have the choice to plot the additional Fibonacci levels (0.114 and 0.886) via the "Plot 0.114 and 0.886 levels?" input. Similarly, the "Plot second set of levels?" input lets you decide whether to display the second set of Fibonacci levels derived from the shorter lookback period. Like any technical analysis tool, this script is most effective when used in conjunction with other indicators and methods of analysis. It is designed to work well in trending markets, where Fibonacci retracements can often indicate potential reversal levels. However, it's always recommended to use a holistic approach to market analysis to maximize the likelihood of successful trades. Note: the two lines drawn on the chart are there to help the user identify the levels from which the two respective Fib sequences are calculated. ~~~ Input Explanations: Long Period Pivot High/Low Lookback and Short Period Pivot High/Low Lookback : These settings determine the length of the lookback periods for the long-term and short-term pivot points, respectively. A pivot point is a technical analysis indicator used to determine the overall trend of the market over different time frames. The pivot points are then used to calculate the Fibonacci levels. A longer lookback period will identify pivot points over a broader time frame, capturing major market trends, while a shorter lookback period will identify pivot points over a narrower time frame, capturing more immediate market movements. Long Period Fibonacci Level Shift and Short Period Fibonacci Level Shift : These inputs control the shift of the Fibonacci levels based on the long and short lookback periods, respectively. If you want to shift the Fibonacci levels to the right, increase the value. If you want to shift the Fibonacci levels to the left, decrease the value. This allows you to adjust the Fibonacci levels to better align with your analysis. Long Period Fibonacci Level Extend and Short Period Fibonacci Level Extend : These inputs control the extension of the Fibonacci levels based on the long and short lookback periods, respectively. If you want the Fibonacci levels to extend further to the right, increase the value. If you want the Fibonacci levels to extend less to the right, decrease the value. This feature provides the flexibility to adjust the length of the Fibonacci levels according to your personal trading preferences and strategy. Plot 0.114 and 0.886 levels? : This setting gives you the ability to plot the additional 0.114 and 0.886 Fibonacci levels. These levels provide extra depth to your analysis, particularly in highly volatile markets where they can act as significant support and resistance levels. Plot second set of levels? : This input allows you to decide whether to plot the second set of Fibonacci levels based on the short lookback period. Displaying this second set of levels can provide a more granular view of market movements and potential reversal points, enhancing your overall analysis.
Pine Script® 인디케이터
FadingExtremes의
2
Volume Profile Regression Channel [LuxAlgo]The Volume Profile Regression Channel calculates a volume profile from an anchored linear regression channel. Users can choose the starting and ending points for the indicator calculation interval. Like a regular volume profile, a "line" of control (LOC), value area, and a developing LOC are displayed. 🔶 SETTINGS Sections: The number of sections the linear regression channel is divided into for the calculation of the volume profile. Width %: Determines the length of the profile within the channel relative to the channel length. Value Area %: Highlights the sections starting from the POC whose accumulated volume is equal to the user-defined percentage of the total profile sections volume. 🔶 USAGES Regular volume profiles are often constructed from a horizontal price area, this can allow highlighting price areas where most trading activity takes place. However, when price is strongly trending a classical volume profile can sometimes be more uniform. This is where using an angled volume profile can be useful. The line of control allows highlighting the section of the channel with the most accumulated volume, this line can be used as a potential future support/resistance. This is where an angled volume profile might be the most useful. The developing LOC highlights the LOC location at a specific time within the profile (from left to right) and can sometimes provide an estimate of the underlying trend in the price. 🔶 DETAILS To be computed the script requires a left and right chart time coordinates. When adding the script to their charts users can determine the left and right time coordinates by clicking on the chart. The linear regression channel width is determined so that the channel precisely encompasses the whole price. 🔶 LIMITATIONS Using a very large calculation interval can return timeouts. Users can reduce the calculation interval to fix that issue from occurring. The amount of drawing objects that can be used is limited, as such using a high calculation interval can display an incomplete profile. 🔶 ACKNOWLEDGEMENTS If you are interested in these types of scripts, @HeWhoMustNotBeNamed published a similar script where users can use a custom line angle. See his 'Angled Volume Profile' script from March 2023.
Pine Script® 인디케이터
LuxAlgo의
24
Support & Resistance ZonesTitle: A Comprehensive Guide to the Support & Resistance Zones Indicator Introduction In the world of technical analysis, the Support & Resistance Zones indicator plays a crucial role in identifying potential trading opportunities. These zones are essential for traders looking to capitalize on bounces or break and retests. In this article, we will delve into the specifics of the Support & Resistance Zones indicator, outlining how it works, how it finds and marks zones, and the various options available for traders. What the indicator is about The Support & Resistance Zones indicator, developed by @HarryCTC, is a powerful tool for detecting areas of potential price reversal or consolidation in a financial market. These zones are significant as they can act as a guide for traders to make informed decisions on entering or exiting positions. Specifically, the indicator helps identify: 1. Support Zones: Areas where the price has a tendency to bounce back up after falling, indicating a potential buying opportunity. 2. Resistance Zones: Areas where the price has a tendency to reverse after rising, indicating a potential selling opportunity. How the indicator finds its zones The Support & Resistance Zones indicator utilizes pivot points to identify potential support and resistance levels. By analyzing the fractal structure of the price chart, the indicator identifies key turning points, known as bull and bear fractals. The bull fractal is a high pivot point, while the bear fractal is a low pivot point. The fractal structure is determined by the 'Switch Zone Period' input, which can be adjusted to suit the trader's preferences. A higher value will result in fewer zones being identified, while a lower value will result in more zones. How it marks zones and why it marks zones The indicator marks the support and resistance zones by creating rectangular boxes around the identified fractal points. The zones are extended horizontally from the fractal point, allowing traders to visualize the potential areas of price reversal. The zones are marked for the following reasons: 1. To provide a clear visual representation of potential support and resistance levels. 2. To help traders identify potential entry and exit points based on the price's reaction to these zones. 3. To serve as a reference for stop-loss and take-profit levels when planning trades. The indicator's for traders trading bounces or break and retests Traders who focus on trading bounces or break and retests can benefit immensely from the Support & Resistance Zones indicator. By providing a visual representation of key support and resistance levels, the indicator enables traders to: 1. Identify potential buying opportunities at support zones where the price is likely to bounce back up. 2. Identify potential selling opportunities at resistance zones where the price is likely to reverse after rising. 3. Make informed decisions on stop-loss and take-profit levels based on the price's proximity to support and resistance zones. 4. Monitor the market for potential breakouts or breakdowns when the price breaches these zones. Indicator options The Support & Resistance Zones indicator offers several customizable options to suit the trader's preferences. These options include: 1. Switch Zone Period: Adjusts the number of periods used to calculate the fractal structure, influencing the number of identified zones. 2. No. of Displayed Zones: Determines the maximum number of zones displayed on the chart, ranging from 1 to 8. 3. Zone Extension: Adjusts the horizontal extension of the support and resistance zones. 4. Resistance Zone Color: Customizes the color of the resistance zone boxes. 5. Support Zone Color: Customizes the color of the support zone boxes. 6. Zone Border Color: Customizes the color of the zone box borders. Conclusion The Support & Resistance Zones indicator is a valuable tool for traders looking to identify potential trading opportunities based on the price's interaction with support and resistance levels. By providing a clear visual representation of these zones, the indicator allows traders to make informed decisions on entry and exit points, stop-loss, and take-profit levels. With customizable options, the indicator can be tailored to suit individual trading preferences and strategies.
Pine Script® 인디케이터
Harry-8FX의
5
Supply and DemandThis is a "Supply and Demand" script designed to help traders spot potential levels of supply (resistance) and demand (support) in the market by identifying pivot points from past price action. Differences from Other Scripts: Unlike many pivot point scripts, this one offers a greater degree of customization and flexibility, allowing users to determine how many ranges of pivot points they wish to plot (up to 10), as well as the number of the most recent ranges to display. Furthermore, it allows users to restrict the plotting of pivot points to specific timeframes (15 minutes, 30 minutes, 1 hour, 4 hours, and daily) using a toggle input. This is useful for traders who wish to focus on these popular trading timeframes. This script also uses the color.new function for a more transparent plotting, which is not commonly used in many scripts. How to Use: The script provides two user inputs: "Number of Ranges to Plot (1-10)": This determines how many 10-bar ranges of pivot points the script will calculate and potentially plot. "Number of Last Ranges to Show (1-?)": This determines how many of the most recent ranges will be displayed on the chart. "Limit to specific timeframes?": This is a toggle switch. When turned on, the script only plots pivot points if the current timeframe is one of the following: 15 minutes, 30 minutes, 1 hour, 4 hours, or daily. The pivot points are plotted as circles on the chart, with pivot highs in red and pivot lows in green. The transparency level of these plots can be adjusted in the script. Market and Conditions: This script is versatile and can be used in any market, including Forex, commodities, indices, or cryptocurrencies. It's best used in trending markets where supply and demand levels are more likely to be respected. However, like all technical analysis tools, it's not foolproof and should be used in conjunction with other indicators and analysis techniques to confirm signals and manage risk. A technical analyst, or technician, uses chart patterns and indicators to predict future price movements. The "Supply and Demand" script in question can be an invaluable tool for a technical analyst for the following reasons: Identifying Support and Resistance Levels : The pivot points plotted by this script can act as potential levels of support and resistance. When the price of an asset approaches these pivot points, it might bounce back (in case of support) or retreat (in case of resistance). These levels can be used to set stop-loss and take-profit points. Timeframe Analysis : The ability to limit the plotting of pivot points to specific timeframes is useful for multiple timeframe analysis. For instance, a trader might use a longer timeframe to determine the overall trend and a shorter one to decide the optimal entry and exit points. Customization : The user inputs provided by the script allow a technician to customize the ranges of pivot points according to their unique trading strategy. They can choose the number of ranges to plot and the number of the most recent ranges to display on the chart. Confirmation of Other Indicators : If a pivot point coincides with a signal from another indicator (for instance, a moving average crossover or a relative strength index (RSI) divergence), it could provide further confirmation of that signal, increasing the chances of a successful trade. Transparency in Plots : The use of the color.new function allows for more transparent plotting. This feature can prevent the chart from becoming too cluttered when multiple ranges of pivot points are plotted, making it easier for the analyst to interpret the data. In summary, this script can be used by a technical analyst to pinpoint potential trading opportunities, validate signals from other indicators, and customize the display of pivot points to suit their individual trading style and strategy. Always remember, however, that no single indicator should be used in isolation, and effective risk management strategies should always be employed.
Pine Script® 인디케이터
FadingExtremes의
3
NSDT Custom High and Low LinesFirst, the credit for the original script to plot a High and Low between a certain time goes to developer paaax. I took that idea, converted it to Pinescript V5, cleaned up the code, and added a few more lines so you can plot different levels based on time of day. Published open source like the original. The example shown has: Blue - plotting from the start of the Futures Asian session to the start of the Futures USA Session. (6:00PM - 9:30AM Eastern) Yellow - plotting from the start of the Futures Europe session to the start of the Futures USA Session. (3:00AM - 9:30AM Eastern) Green - plotting from the start of the Futures US Premarket session to the start of the Futures USA Session. (8:00AM - 9:30AM Eastern) These are great levels to use for breakouts and/or support and resistance. Combine these levels with the 5 min Open Range levels, as you have some good trades. Each of the three sessions have individual start and end times that can be modified by the trader, so you can easily mark off important areas for your style of trading.
Pine Script® 인디케이터
NorthStarDayTrading의
1
ICT Macros [LuxAlgo]The ICT Macros indicator aims to highlight & classify ICT Macros, which are time intervals where algorithmic trading takes place to interact with existing liquidity or to create new liquidity. 🔶 SETTINGS 🔹 Macros Macro Time options (such as '09:50 AM 10:10'): Enable specific macro display. Top Line , Mid Line , Bottom Line and Extending Lines options: Controls the lines for the specific macro. 🔹 Macro Classification Length : A length to detect Market Structure Brakes and classify macro type based on detection. Swing Area : Swing or Liquidity Area selection, highest/lowest of the wick or the candle bodies. Accumulation , Manipulation and Expansion color options for the classified macros. 🔹 Others Macro Texts : Controls both the size and the visibility of the macro text. Alert Macro Times in Advance (Minutes) : This option will plot a vertical line presenting the start of the next macro time. The line will not appear all the time, but it will be there based on remaining minutes specified in the option. Daylight Saving Time (DST) : Adjust time appropriate to Daylight Saving Time of the specific region. 🔶 USAGE A macro is a way to automate a task or procedure which you perform on a regular basis. In the context of ICT's teachings, a macro is a small program or set of instructions that unfolds within an algorithm, which influences price movements in the market. These macros operate at specific times and can be related to price runs from one level to another or certain market behaviors during specific time intervals. They help traders anticipate market movements and potential setups during specific time intervals. To trade these effectively, it is important to understand the time of day when certain macros come into play, and it is strongly advised to introduce the concept of liquidity in your analysis. Macros can be classified into three categories where the Macro classification is calculated based on the Market Structure prior to macro and the Market Structure during the macro duration: Manipulation Macro Manipulation macros are characterized by liquidity being swept both on the buyside and sellside. Expansion Macro Expansion macros are characterized by liquidity being swept only on the buyside or sellside. Prices within these macros are highly correlated with the overall trend. Accumulation Macro Accumulation macros are characterized by an accumulation of liquidity. Prices within these macros tend to range. The script returns the maximum/minimum price values reached during the macro interval alongside the average between the maximum/minimum and extends them until a new macro starts. These levels can act as supports and resistances. 🔶 DETAILS All required data for the macro detection and classification is retrieved using 1 minute data sets, this includes candles as well as pivot/swing highs and lows. This approach guarantees the visually presented objects are same (same highs/lows) on higher timeframes as well as the macro classification remain same as it is in 1 min charts. 8 Macros can be displayed by the script (4 are enabled by default): 02:33 AM 03:00 London Macro 04:03 AM 04:30 London Macro 08:50 AM 09:10 New York Macro 09:50 AM 10:10 New York Macro 10:50 AM 11:10 New York Macro 11:50 AM 12:10 New York Launch Macro 13:10 PM 13:40 New York Macro 15:15 PM 15:45 New York Macro 🔶 ALERTS When an alert is configured, the user will have the ability to be notified in advance of the next Macro time, where the value specified in 'Alert Macro Times in Advance (Minutes)' option indicates how early to be notified. 🔶 LIMITATIONS The script is supported on 1 min, 3 mins and 5 mins charts. 🔶 RELATED SCRIPTS
Pine Script® 인디케이터
LuxAlgo의
70
Autodrawn Support and Resistance LevelsAutodrawn Support and Resistance Levels is an indicator that helps traders identify key support and resistance levels on a chart. These levels are important because they can help traders make decisions about when to buy or sell an asset. The indicator uses three lookback periods to identify recent highs and lows and then draws lines at the highest support and resistance levels for those periods. The lines are color-coded, with green indicating support and red showing resistance. The thickness of the lines can also be adjusted to match a trader's preferences. The lines are updated automatically as new data is added to the chart, making it easy for traders to identify new levels of support and resistance as they emerge. Overall, this indicator is a helpful tool for traders who want to quickly and easily identify critical levels on a chart to inform their trading decisions. By having one lookback period on a medium-term timeframe (e.g. 50), a short-term timeframe (e.g. 10), and a long-term timeframe (e.g. 300), it can be easier to identify support and resistance levels that are relevant to the current market trend, and see multiple critical levels at once. This can help you make more informed decisions about when to enter and exit trades, as well as where to set stop-loss orders. It may be valuable to consider that as shorter-term and longer-term support/resistance levels become closer together, it is more likely for there to be a reversal in the opposite direction. This indicator is less useful in markets that have strong trends, where the horizontal support and resistance levels are likely to be less useful than trend line support and resistance levels, however it works well in sideways trading markets Note: reupload since previous description violated tradingview rules
Pine Script® 인디케이터
Scalpalytics의
8
FVG Sessions [LuxAlgo]The FVG Sessions indicator highlights the first fair value gap of the trading session as well as the session range. Detected fair value gaps extend to the end of the trading session. Alerts are included on the formation of a session fair value gap, price being within a session fair value gap, mitigations, and price crossing session fair value gaps average. 🔶 USAGE Trader ICT states that the first fair value gap of the trading session can attract the most significant reaction. Having only one FVG per session allows users to further focus on that precise imbalance as well as external elements. The mitigation of a fair value gap is clearly indicated on the chart with a more transparent color allowing users to see inverse FVGs. Extending the fair value gaps allows the imbalance area to provide potential support and resistance. Do note that this script should be used on intraday charts. 🔶 ALERTS The script includes the following alerts: 🔹 Bullish/Bearish FVG Alerts on the formation of the first bullish or bearish FVG of the session. 🔹 Bullish/Bearish FVG Mitigation Alerts when the first bullish or bearish FVG of the session is mitigated. 🔹 Price Within FVG Alerts when price is within the first bullish or bearish FVG area of the session. 🔹 Price Cross FVG Average Alerts when price cross the average level of the first bullish or bearish FVG of the session.
Pine Script® 인디케이터
LuxAlgo의
22
52 Week High/Low FibonacciThe primary purpose of this indicator is to calculate and plot the 52-week high and low prices along with the Fibonacci retracement levels on the price chart. Fibonacci levels are commonly used in trading to identify potential support, resistance, and price reversal points. First, the script initializes the Fibonacci levels and their corresponding colors, which will be used to plot the levels on the chart. Next, it calculates the 52-week high and low prices by finding the highest and lowest prices over the last 252 trading days, approximately equivalent to one year. Then, it identifies the overall trend direction by comparing the number of bars since the highest high and the lowest low. If the highest high is more recent, the trend is considered downwards; if the lowest low is more recent, the trend is upwards. The script then plots the Fibonacci retracement levels on the chart, using horizontal lines at the respective price levels. It also creates labels for each level, displaying the percentage and the price value. Additionally, it draws a line connecting the 52-week high and low prices, providing a visual representation of the price range during the 52-week period. Pros of this indicator include: -Automatic calculation and plotting of Fibonacci levels, saving time for traders -Clear trend identification based on 52-week high and low prices -Visually appealing and easy-to-read chart representation with color-coded levels -Provides insight into potential price reversal areas based on widely used Fibonacci levels Cons of this indicator include: -Only works on daily timeframes, limiting its usefulness for intraday and weekly traders -Assumes that the trend will continue in the same direction, which may not always be accurate in real-world markets -Does not provide explicit buy or sell signals, leaving the trading decision-making process up to the trader -Solely relies on Fibonacci levels, which may not always be accurate; it is recommended to use other technical indicators or strategies alongside this indicator for a comprehensive trading approach In conclusion, the '52 Week High Low Fibonacci' indicator is a valuable tool for traders interested in using Fibonacci levels for identifying potential price reversal points. By automatically calculating and plotting these levels based on 52-week high and low prices, the indicator provides a clear, color-coded visual aid, which can be especially helpful for traders who base their strategies on these levels. However, it's worth noting that this indicator is limited to daily timeframes and doesn't provide explicit buy or sell signals, requiring traders to incorporate their own analysis and judgement in their decision-making process. The indicator also operates on the assumption of trend continuation, which may not always hold true. While it's a beneficial tool, relying solely on this indicator for trading decisions may not be advisable. It's best used in conjunction with other indicators and trading strategies, providing a more balanced and comprehensive approach to trading in the financial markets. As always, risk management should be a key part of any trading strategy. **YOUR INSIGHTFUL FEEDBACK OR SUGGESTIONS FOR REVISIONS TO THIS CODE ARE HIGHLY APPRECIATED. PLEASE FEEL FREE TO SHARE YOUR THOUGHTS TO FOSTER ITS CONTINUAL IMPROVEMENT**
Pine Script® 인디케이터
Scatman_Jeff의
6