AZB | ADR Indicator & Auto Plot - by Meister_azb

29 Ara 2024

AZB | ADR Indicator & Auto Plot - by Meister_azb

The 'AZB | ADR Indicator & Auto Plot' is a feature-rich TradingView tool designed to elevate your technical analysis. By seamlessly integrating the core elements of the AZB session-based ranges, ADR-based Fibonacci retracements, and ATR-based trailing stops, this indicator offers a robust framework for identifying high-probability trade opportunities and managing risk effectively.

Inspired by the trading strategy I created, the Accumulation Zone Breakout Strategy (AZB), this indicator automates the plotting of predefined time zones and Fibonacci levels for entry points, based on the highs and lows of these zones. This strategy is adaptable to any asset exhibiting consistent pre-market accumulation behavior. Additionally, the indicator incorporates Average Daily Range (ADR) Fibonacci levels to pinpoint potential overbought or oversold areas likely to trigger reversals.

Key Features:

• Session Range Analysis
  
• Customize session times with a user-defined time zone.
  
• Auto-plots session highs and lows with a dynamic range box for the AZB setup.
  
• Fully adjustable box color and transparency for personalized chart aesthetics.
  
• Clears outdated session levels and Fibonacci lines for a clutter-free display.
  
• Fibonacci Levels
  
• Includes key retracement levels (0.236, 0.382, 0.5, 0.618) and extensions (1.236, 1.382).
  
• Fully customizable line styles (dashed, dotted, solid) and label placements (left or right).
  
• Levels automatically update based on session high and low calculations.
  
• High-Probability Breakout Timing
  
• Highlights specific breakout times during the session, with adjustable hours and minutes.
  
• Adds visual emphasis using a subtle background color for clear identification.
  
• Average Daily Range (ADR) Calculations
  
• Scales Fibonacci levels proportionally to the ADR for accurate analysis of price movements.
  
• ATR-Based Trailing Stop.
  

Computes ADR using multiple customizable methods:

• Basic calculation.
  
• Standard deviation.
  
• Variance-based.
  

Implements dynamic stop-loss levels based on:

• ATR (configurable period and multiplier).
  

• Optional 10-period or 20-period moving average stops.
  
• Color-coded tracking for long (green) and short (red) positions.
  
• Custom Alerts
  
• Configurable alerts for price crossing critical Fibonacci levels.
  
• Stay ahead of market movements with instant notifications.
  

Customization Options:

• Define flexible session parameters with full time zone compatibility.
  
• Adjust line and fill transparency to optimize chart visibility.
  
• Tailor Fibonacci level values, colors, and label styles to suit your strategy.
  
• Configure multiple ATR and stop-loss settings for effective risk management.
  

The 'AZB | ADR Indicator & Auto Plot' is ideal for traders who:

Focus on session-specific price range and breakout analysis.
Use Fibonacci retracements for strategic entry, exit, and target levels.
Leverage ADR and ATR metrics to forecast price movements and reversals.
Need real-time alerts for critical market events.
Unleash the full potential of your trading strategy with the 'AZB | ADR Indicator & Auto Plot' and gain the competitive edge you need to succeed in today’s markets!

Disclaimer:
*This script is provided "as is," without any warranties or guarantees of any kind, either expressed or implied, including but not limited to the implied warranties of merchantability and fitness for a particular purpose. The author is not responsible for any losses or damages resulting from the use of this code.*