Multi-Timeframe SFP (Swing Failure Pattern)

19 Eki

How to Use
1. Set Pivot Timeframe: Choose the timeframe for identifying major swing points (e.g., 'D' for Daily pivots).
2. Set SFP Timeframe: Choose the timeframe to find the SFP candle (e.g., '240' for the 4-Hour chart).
3. Set Confirmation Bars: Set how many SFP Timeframe bars must pass without invalidating the level. A value of '0' confirms immediately on the SFP bar's close. A value of '1' waits for one more bar to close.
4. Adjust Filters (Optional): Enable the 'Wick % Filter' to add a quality check for strong rejections.
5. Watch & Wait: The indicator will draw lines and labels and fire alerts for fully confirmed signals.


In-Depth Explanation
1. Overview

The Dynamic Pivot SFP Engine is a multi-timeframe tool designed to identify and validate Swing Failure Patterns (SFPs) at significant price levels.
An SFP is a common price action pattern where price briefly trades beyond a previous swing high or low (sweeping liquidity) but then fails to hold those new prices, closing back inside the previous range. This "failure" often signals a reversal.
This indicator enhances SFP detection by separating the Pivot (Liquidity) from the SFP (Rejection), allowing you to monitor them on different timeframes.

2. The Core Multi-Timeframe Logic

The indicator's power comes from two key inputs:
• Pivot Timeframe (Pivot Timeframe)
This is the "high timeframe" used to establish significant support and resistance levels. The script finds standard pivots (swing highs and lows) on this timeframe based on the Pivot Left Strength and Pivot Right Strength inputs. These pivots are the "liquidity" levels the SFP will target. The Pivot Lookback input controls how long (in Pivot Timeframe bars) a pivot remains active and monitored.
• SFP Timeframe (SFP Timeframe)
This is the "execution timeframe" where the script looks for the actual SFP. On every new bar of this timeframe, the script checks if price has swept and rejected any of the active pivots.
Example Setup:
You might set Pivot Timeframe to 'D' (Daily) to find major daily swing points. You then set SFP Timeframe to '240' (4-Hour) to find a 4-hour candle that sweeps a daily pivot and closes back below/above it.

3. The SFP Confirmation Process

An SFP is not confirmed instantly. It must pass a rigorous, multi-step validation process.
Step 1: The SFP Candle (The Sweep)
A potential SFP is identified when an SFP Timeframe bar does the following:
• Bearish SFP: The bar's high trades above an active pivot high, but the bar closes below that same pivot high.
• Bullish SFP: The bar's low trades below an active pivot low, but the bar closes above that same pivot low.
Step 2: The Wick Filter (Optional Quality Check)
If Enable Wick % Filter is checked, the SFP candle from Step 1 is also measured.
• For a bearish SFP, the upper wick (from the high to the open/close) must be at least Min. Wick % of the entire candle's range (high-to-low).
• For a bullish SFP, the lower wick (from the low to the open/close) must meet the same percentage requirement.
If the SFP candle fails this test, it is discarded, even if it met the sweep/close criteria.
Step 3: The Validation Window (The Confirmation)
This is the most critical feature, controlled by Confirmation Bars.
• If Confirmation Bars = 0: The SFP is confirmed immediately on the SFP candle's close (assuming it passed the optional wick check). The label, line, and alert are triggered at this moment.
• If Confirmation Bars > 0: The SFP enters a "pending" state. The script will wait for $N$ more SFP Timeframe bars to close.
o Invalidation: If, during this waiting period, any bar closes back across the pivot (e.g., a close above the pivot for a bearish SFP), the SFP is considered failed and invalidated. All pending plots are deleted.
o Confirmation: If the $N$ confirmation bars all complete without invalidating the level, the SFP is finally confirmed. The label, line, and alert are only triggered after this entire process is complete. This adds a significant layer of robustness, ensuring the rejection holds for a period of time.

4. Visuals & Alerts

• Lines: A horizontal line is drawn from the original pivot to the SFP bar, showing which level was targeted. Note: These lines will only be drawn on chart timeframes equal to or lower than the 'SFP Timeframe'.
• Labels: A label is placed at the SFP's extreme (the high/low of the SFP bar). The label text conveniently includes the Ticker, Pivot TF, SFP TF, and Confirmation bar settings (e.g., "Bearish SFP BTCUSD / Pivot: 1D / SFP: 4H | Conf: 1").
• MTF Boxes (Show SFP Box, Show Conf. Boxes): These boxes highlight the SFP and confirmation bars. Crucially, they are only visible when your chart timeframe is lower than the SFP Timeframe. For example, if your SFP Timeframe is '240' (4H), you will only see these boxes on the 1H, 15M, 5M, etc., charts. This allows you to see the higher-timeframe SFP unfolding on your lower-timeframe chart.
• Alerts (Enable Alerts): An alert is fired only when an SFP is fully confirmed (i.e., after the Confirmation Bars have passed successfully). For efficient, real-time monitoring, it is highly recommended to run this indicator server-side by creating an alert on TradingView set to trigger on "Any alert() function call".

8 Kas

Sürüm Notları

Gave 'x' Markers Space: We added a 10% ATR (Average True Range) offset to the 'x' pivot markers so they don't sit directly on the candle wicks.

Added 'x' Marker Toggle: We added a new checkbox, "Show Pivot 'x' Markers," to the "Master Switches" menu so you can easily turn them on or off.

Cleaned Up Color Menu: We reorganized the "Colors" settings, separating the inline box color inputs into four distinct, neatly aligned options:

• SFP Box Bearish
  
• SFP Box Bullish
  
• Conf. Box Bearish
  
• Conf. Box Bullish
  

Matched Label Transparency: We changed the default transparency of the main SFP label colors ("Bearish SFP Color" and "Bullish SFP Color") to 75% to match the style of the SMT indicator.

Separated Line & Label Colors: We gave the SFP lines and SFP labels their own independent color settings in the menu, so you can customize them separately.

10 Kas

Sürüm Notları

Added a statistical function to the indicator, which is a bit clunky and user unfriendly. but it serves it's purpose.

The indicator itself still works as intended, identifies swing failure patterns, shows them visually and gives alerts.

just added the clunky statistical module (which somehow does not fill in data for friday on pairs such as NQ or ES which close on the weekend). Will have to figure that out.

For the rest the statistical module works as intended but is very user unfriendly.

If you have any feedback, be sure to message me. as I said will be working on it, might remove it, might perfect it, for now it serves it's purpose to gather data about when SFP happen the most or the least for your configured setting.

10 Kas

Sürüm Notları

also, you can choose to use or not to use the statistical module, and I made the warning box only to show up if you are using it.

Because the statistical module only works on the exact timeframe for which it is configured.

The SFP still work the same, they show up on the SFP timeframe and lower.

For example weekly pivots and 4 hour SFP. the SFP will show on the 4 hour timeframe and anything lower.

if you have any questions about the indicator feel free to message me.