Multitimeframe
Bitboy IndicatorBitboy Indicator 🚦
A simple yet powerful trend-following tool that adapts to any timeframe!
How It Works:
🔹 Uses two moving averages (MAs):
Fast MA (default: 9-day) – reacts quickly to price changes.
Slow MA (default: 21-day) – smooths out trends for better confirmation.
🔹 Dynamic Timeframe Scaling – The indicator adjusts automatically based on your chart’s timeframe, ensuring accurate signals across all timeframes.
🔹 Buy & Sell Signals:
✅ Buy – When the Fast MA crosses above the Slow MA (bullish crossover).
❌ Sell – When the Fast MA crosses below the Slow MA (bearish crossover).
🔹 Visuals for Clarity:
Green fill when the Fast MA is above the Slow MA (bullish trend).
Red fill when the Fast MA is below the Slow MA (bearish trend).
Clear “Buy” and “Sell” labels for easy entry/exit points.
🔹 Alerts Included! 🔔
Get notified when a crossover happens—never miss an opportunity!
Got it from a friend, enjoy :)
Liquidity Candle FinderThis works effective if line is formed in more than 3 time frame and if found in 5 or more time frames then it will be effective for reversal till that point price again. Use Pivots in daily time frame and enter at S1 for long trade and R1 for short trade
Trading Sessions IndicatorTrading Sessions Indicator simple way
show ny london asia session
also nyse open
Real-Time Data Error Check _byMDKTests back if there was missing data/bar with respect to selected timeframe and source.
Experienced red data (no-real time data is available) so i come up with the idea.
Regards.
i.redd.it
Custom Trading Session Overlay
Overview:
The Custom Trading Session Overlay is a powerful and flexible indicator designed to highlight custom trading sessions directly on your chart. It allows you to define up to four unique trading sessions with customizable time ranges. The indicator automatically adapts to your TradingView chart's time zone with New York timing configuration setting, ensuring accurate session alignment without the need for manual time zone adjustments.
Key Features:
1. Customizable Sessions:
- Define up to four independent trading sessions with specific time ranges as per NY timezone.
- Example: 0800-1700:1234567 highlights a session from 8:00 AM to 5:00 PM NY time on all days.
2. Automatic Time Zone Detection:
- The indicator uses the chart's time zone (syminfo.timezone) to ensure sessions align perfectly with your local time or preferred time zone.
3. Visual Highlights:
- Each session is highlighted with a unique background color for easy identification.
- Colors are customizable for better visual distinction.
4. Toggle On/Off:
- Easily enable or disable each session using the input options.
5. User-Friendly Inputs:
- Intuitive input fields for defining session times and toggling visibility.
How to Use:
1. Add the Indicator:
- Search for "Custom Time Zone Session Overlay" in the TradingView indicator panel and add it to your chart.
2. Configure Sessions:
- Open the indicator settings to define up to four custom sessions as per your need:
- Set the time range (e.g., 0800-1700) Set the time as per NY timezone.
- Toggle each session on or off as needed.
3. View Highlights:
The indicator will automatically highlight the defined sessions on your chart based on the chart's time zone.
Why Use This Indicator?
Flexibility: Customize sessions to match your trading style or market focus.
Accuracy: Automatically adapts to your chart's time zone for precise session alignment.
Clarity: Visual highlights make it easy to identify key trading periods at a glance.
Get Started:
Add the Custom Time Zone Session Overlay to your chart today and take control of your trading sessions with precision and ease!
Jay Stock Vs S&P Sector Performance
This indicator facilitates stock comparison with an S&P sector while also identifying sector trends and potential trend beginnings, continuations, and conclusions by integrating moving averages with trend lines.
Its unique trend curves also assist in pinpointing key support and resistance levels for the sector. The sector grouping and market cap are calculated within the indicator using a curated list of stocks.
Multi-timeframe plots provide valuable insights by displaying short-term and long-term trends on the same chart, making it suitable for both intraday and swing trading analysis.
Multiple sector charts and trends can be visualized at the same time by adding multiple instances of same indicator to compare different sectors for portfolio rebalancing between sectors.
Another distinctive and essential feature is performance lines, which allow for visualizing S&P sector performance relative to the SPX market and stock performance relative to the S&P sector. Using the performance lines, one can identify top-performing sectors and then pinpoint the best stocks within those sectors.
How to read multi-timeframe charts?
The first timeframe, such as daily, is represented by a red EMA8 line (labeled DE) and a corresponding thin trend line (labeled DT). The second timeframe, such as weekly, uses a green EMA8 line (labeled WE) and a medium trend line (labeled WT). The third timeframe, such as monthly, is depicted with a blue EMA8 line (labeled ME) and a thick trend line (labeled MT).
As the timeframe increases, the true range increases and hence trend curve thickness increases.
How do EMA and Trend Line Work Together?
In the Electronic Tech sector daily chart screenshot below, trend initiation is highlighted with a green circle, trend continuation is marked by arrow, and trend completion is indicated with a red circle. A total of two trends are identified on the chart.
When the EMA crosses above the corresponding trend line, it signals the start of a trend, while a cross below the trend line marks its end. The period between the trend start and end represents trend continuation.
How do Trend Lines Serve as Support or Resistance?
In the Electronics Sector daily chart screenshot below, the monthly green trend line serves as support when the price declines toward it, while the red trend line acts as resistance when the price rises from below.
Green circles on the chart highlight instances where the monthly trend provided support, while red circles indicate points where the weekly trend acted as resistance.
How Multi-Timeframe Trends Assist in Stock Analysis?
In the Transportation sector daily chart screenshot below, the monthly trend is rising, and the weekly trend is also moving upward, indicating a favorable outlook for both long-term (monthly) and medium-term (weekly) trends. While, the daily chart suggests a up trend starting.
How to use performance lines to pick outperforming sectors and stocks?
In the screenshot below, the sector candles and trendlines have been disabled in the settings for better clarity, while the performance lines remain enabled. The chart displays META's performance lines, comparing its performance against the Technology Services sector.
The upward movement of the red lines indicates that META is performing well relative to its sector, while the rising blue lines suggest that the sector itself is gaining strength. This trend signals a potential improvement in both the sector’s overall performance and META’s standing within it.
Inputs and customization:
The combination of ema and trend plots will be plotted for 4 different time frames all at once. The first three timeframes(60, 240, D, W, M, etc) can be chosen in the settings while the fourth one is for current chart timeframe.
One can manually select the sector for comparison in the settings or choose to have it automatically selected for most of S&P 500 stocks. At what price to plot the sector chart can be set in the settings.
The sector candles, trend lines, performance lines and labels, can all be shown or hidden by adjusting settings.
How is Trend Line and EMA calculated?
The Trend line is calculated using an arithmetic equation based on the last 8 data points, which are themselves a combination of weighted moving averages of varying lengths. A 14-period true range of the price is calculated and plotted as a buffer zone around the trend lines.
Trend curves appear green when the price is above the trend line and red when it is below. Trend lines are labeled using the timeframe followed by 'T' (e.g., DT, WT, MT).
The EMA represents the weighted moving average of the most recent eight candles and is labeled with the timeframe followed by 'E' (e.g., DE, WE, ME).
How is sector data(representational) Calculated ?
The representational sector data (market cap) is calculated by summing each stock's price, weighted by its market cap percentage within the selected group, and then scaling the result to display at the desired price point on the chart.
The sector plot data shown here is the representation(not actual) of total market value of a few chosen stocks (list shown on chart) in the S&P 500. Large-cap stocks are excluded from the calculation to mitigate bias. Therefore, the displayed chart offers an approximate representation of the sector movement.
How is performance Calculated ?
The stock vs. sector performance, shown in red, is calculated as the stock's market cap movement divided by the sector's market cap movement. If the stock is doing much better than the rest of its sector group, this line will go up. Similarly, sector Vs SPX performance, shown in blue, is calculated as sector movement divide by SPX movement. When a sector outperforms the broader(SPX) market, the blue line trends upward.
Pro Tip: For optimal visibility, apply this indicator to a separate pane below the stock chart.
Caution: This indicator is intended solely for educational and analytical purposes, assisting traders in studying stock movements relative to their sector group. Stocks selected for sector market cap calculations are curated and hence these plots should only be taken for comparison study purposes. Exercise caution when using it for investment decisions.
Fractal Time/Price Scaling Invariance//@version=6
indicator("Fractal Time/Price Scaling Invariance", overlay=true, shorttitle="FTSI v1.2")
// Zeitliche Oktaven-Konfiguration
inputShowTimeOctaves = input(true, "Zeit-Oktaven anzeigen")
inputBaseTime1 = input.int(8, "Basisintervall 1 (Musikalische Oktave)", minval=1)
inputBaseTime2 = input.int(12, "Basisintervall 2 (Alternative Sequenz)", minval=1)
// Preis-Fraktal-Konfiguration
inputShowPriceFractals = input(true, "Preis-Fraktale anzeigen")
inputFractalDepth = input.int(20, "Fraktal-Betrachtungstiefe", minval=5)
// 1. Zeitliche Fraktale mit skaleninvarianter Oktavstruktur
if inputShowTimeOctaves
// Musikalische Oktaven (8er-Serie)
for i = 0 to 6
timeInterval1 = inputBaseTime1 * int(math.pow(2, i))
if bar_index % timeInterval1 == 0
line.new(bar_index, low - syminfo.mintick, bar_index, high + syminfo.mintick, color=color.new(color.blue, 70), width=2)
// Alternative Sequenz (12er-Serie)
for j = 0 to 6
timeInterval2 = inputBaseTime2 * int(math.pow(3, j))
if bar_index % timeInterval2 == 0
line.new(bar_index, low - syminfo.mintick, bar_index, high + syminfo.mintick, color=color.new(color.purple, 70), width=2)
// 2. Korrigierte Preis-Fraktal-Erkennung
var fractalHighArray = array.new_line()
var fractalLowArray = array.new_line()
if inputShowPriceFractals
// Fractal Detection (korrekte v6-Syntax)
isFractalHigh = high == ta.highest(high, 5)
isFractalLow = low == ta.lowest(low, 5)
// Zeichne dynamische Fraktal-Linien
if isFractalHigh
line.new(bar_index , high , bar_index + inputFractalDepth, high , color=color.new(color.red, 80), style=line.style_dotted)
if isFractalLow
line.new(bar_index , low , bar_index + inputFractalDepth, low , color=color.new(color.green, 80), style=line.style_dotted)
// Array-Bereinigung
if array.size(fractalHighArray) > 50
array.remove(fractalHighArray, 0)
if array.size(fractalLowArray) > 50
array.remove(fractalLowArray, 0)
// 3. Dynamische Übergangszonen (Hesitationsbereiche)
transitionZone = ta.atr(14) * 2
upperZone = close + transitionZone
lowerZone = close - transitionZone
plot(upperZone, "Upper Transition", color.new(color.orange, 50), 2)
plot(lowerZone, "Lower Transition", color.new(color.orange, 50), 2)
// 4. Skaleninvariante Alarmierung
alertcondition(ta.crossover(close, upperZone), "Breakout nach oben", "Potenzielle Aufwärtsbewegung!")
alertcondition(ta.crossunder(close, lowerZone), "Breakout nach unten", "Potenzielle Abwärtsbewegung!")
Dynamic Bollinger Bands for Multiple Timeframes How It Works:
Dynamic Settings Based on Timeframe:
15-Minute (15M): 10-period, 1.5 deviation.
1-Hour (1H): 14-period, 2.0 deviation.
4-Hour (4H): 20-period, 2.0 deviation.
Daily (1D): 20-period, 2.0 deviation.
3-Day (3D): 20-period, 2.0 deviation.
Weekly (1W): 20-period, 2.0 deviation.
Monthly (1M): 20-period, 2.0 deviation (for long-term trend tracking).
Plotting:
Upper band, lower band, and basis are calculated and plotted dynamically based on the current chart's timeframe.
How to Use:
When you switch between any of the listed timeframes (15-min, 1H, 4H, Daily, 3D, Weekly, or Monthly), the Bollinger Bands settings will adjust accordingly to provide the most accurate signals for that timeframe.
Corinne BC with Trend ScannerUsing a very simple cloud with trend scanner from the 1m all down to the 1day
Market Structure CHoCH/BOS (Fractals) by BFXIdentifies Key Levels of Market Structure Shift and Change Of Charachter
Multi-Timeframe Stochastic OverviewPurpose of the Multi-Timeframe Stochastic Indicator:
The Multi-Timeframe Stochastic Indicator provides a consolidated view of market conditions across multiple timeframes (M1, M5, M15, H1) based on the Stochastic Oscillator, a popular technical analysis tool. The main objective is to allow traders to quickly assess momentum and potential trend reversals across different timeframes on a single chart, helping to make informed trading decisions.
---
General Purpose of Stochastic Oscillator:
The Stochastic Oscillator measures the relationship between a security's closing price and its price range over a given period, aiming to identify momentum, overbought/oversold levels, and potential reversal points. It works on the assumption that:
1. In uptrends, prices tend to close near their highs.
2. In downtrends, prices tend to close near their lows.
It consists of two lines:
%K (fast line): Represents the raw Stochastic value.
%D (slow line): A moving average of %K, used to smooth the data for better signals.
The indicator is generally used to:
Identify Overbought (price above 80% threshold) and Oversold (price below 20% threshold) conditions.
Spot Bullish and Bearish divergences for potential trend reversals.
Evaluate momentum strength within a trend.
---
How This Multi-Timeframe Indicator Enhances Stochastic's Utility:
1. Multi-Timeframe Overview:
The indicator calculates Stochastic values for multiple timeframes (1-minute, 5-minute, 15-minute, and 1-hour) and displays their market conditions (e.g., Bullish, Bearish, Overbought, Oversold, or Indecision) in an organized table format.
This gives traders a broad perspective on short-term, mid-term, and long-term trends simultaneously.
2. Market Condition Summary:
Bullish: Indicates upward momentum (both %K and %D > 50%).
Bearish: Indicates downward momentum (both %K and %D < 50%).
Overbought: Suggests potential trend exhaustion (both %K and %D > 80%).
Oversold: Suggests a potential reversal to the upside (both %K and %D < 20%).
Indecision: Highlights uncertainty when %K and %D are on opposite sides of the 50% level.
3. Quick Decision-Making:
The color-coded table (green for Bullish/Overbought, red for Bearish/Oversold, orange for Indecision) allows traders to quickly identify dominant conditions and momentum alignment across timeframes, helping in trade confirmation.
4. Trend Analysis:
By observing alignment or divergence in market conditions across timeframes, traders can gauge the strength of a trend or anticipate reversals. For example:
If all timeframes show "Bullish," it suggests strong momentum.
If smaller timeframes are "Overbought" while larger ones are "Bearish," it warns of a possible pullback.
5. Customizable Parameters:
The indicator allows customization of Stochastic K, D, smoothing values, and overbought/oversold levels, enabling users to tailor the analysis to specific trading styles or market conditions.
---
Use Cases:
1. Scalping:
A scalper can use lower timeframes (e.g., M1, M5) to find overbought/oversold zones for quick trades.
2. Swing Trading:
Swing traders can align smaller timeframes with higher ones (e.g., M15 and H1) to confirm momentum before entering a trade.
3. Trend Reversals:
Overbought or oversold conditions across all timeframes may indicate a major reversal point, helping traders plan exits or countertrend entries.
4. Trend Continuation:
Consistent bullish or bearish conditions across all timeframes confirm the continuation of a trend, providing confidence to hold positions.
---
Summary:
This indicator enhances the traditional Stochastic Oscillator by giving a multi-timeframe snapshot of market momentum, overbought/oversold conditions, and trend direction. It enables traders to quickly assess the overall market state, spot opportunities, and make more informed trading decisions.
UT Bot With Consolidation ZonesUT Bot With Consolidation Zones
A. UT Bot
B. Consolidation Zones
C. Buy and Sell signals
D. Trend based Flow
EMAs Adaptativa y Señales de Compra/VentaEma 21 en diario, define la tendencia, si el precio se encuentra sobre la ema, se buscan compras, por lo cual, se pinta de verde, si el precio se encuentra debajo, se buscan ventas, por lo cual la ema se pinta de rojo.
En h4 tiene un valor de 126 y en h1 de 508
La ema 50 y 200, funcionan como soportes dinámicos, del precio, donde se busca una entrada, siempre y cuando el precio se encuentre rebotando en los niveles del RSI y rebotando en al menos una de las medias.
Z PLUS take profit & Stop lose Here’s a breakdown of the provided Pine Script code for the ZPLUS indicator, which combines a moving average strategy with ATR (Average True Range) and swing detection for trading signals.
Overview of the Code
1. Indicator Setup
- The script is set to overlay on the price chart and specifies a maximum look-back period for bars.
```pinescript
indicator('ZPLUS', overlay=true, max_bars_back=4000)
```
2. Moving Average Strategy
- The moving average strategy is implemented with user-defined parameters like `timer`, `MTP` (Multiplier for ATR), and `sf` (smoothing factor).
- An exponential smoothing technique is applied to the source data, which is defined as the average of high and low prices (`hl2`).
```pinescript
timer = 8
source = hl2
MTP = 5.0
sf = 0.2
avg = 0.
srca = sf * source + (1 - sf) * nz(avg , source)
```
3. ATR Calculation
- The script calculates the ATR based on a specified length. This ATR value is used to determine the upper and lower bounds (`upa` and `dna`) for potential entry points.
```pinescript
atrsecond = ta.sma(ta.tr, timer)
atr = changeATR ? ta.atr(timer) : atrsecond
upa = srca - MTP * atr
dna = srca + MTP * atr
```
4. Trend Detection
- The script detects the trend based on the close price relative to the calculated upper and lower bands.
- The RSI (Relative Strength Index) is also incorporated to confirm the trend signals.
```pinescript
rsiPeriod = 14
rsiValue = ta.rsi(close, rsiPeriod)
trenda := trenda == -1 and close > dn1a and rsiValue > rsiOversold ? 1 : trenda == 1 and close < up1a and rsiValue < rsiOverbought ? -1 : trenda
```
5. Signal Generation
- Long and short signals are generated based on the trend detection logic.
```pinescript
LongSignal = trenda == 1 and trenda == -1
ShortSignal = trenda == -1 and trenda == 1
```
6. ATR Stop and Swing High/Low TP
- The script calculates trailing stops based on ATR and determines swing high and low points for setting take profit (TP) levels.
```pinescript
up = hl2 - m * ta.atr(atrLen)
dn = hl2 + m * ta.atr(atrLen)
```
7. Plotting
- The calculated ATR trend and take profit levels are plotted on the chart. Signals for long and short positions are visually represented.
```pinescript
plot(stop, color=lineColor, style=plot.style_line, linewidth=1, title='ATR Trend')
```
8. Alerts for Trading Signals
- Alerts are set up to notify users when long or short signals are generated, including details like entry price and stop loss levels.
```pinescript
if LongSignal
alert(message, alert.freq_once_per_bar_close)
```
9. Dynamic Table Display
- A table is created to display the current signal, entry price, and take profit/stop loss levels dynamically on the chart.
```pinescript
var tbl = table.new(position = position.top_right, columns = 7, rows = 10, frame_color = color.blue, frame_width = 3, border_color = color.blue, border_width = 3)
```
Summary
The ZPLUS indicator combines several technical analysis techniques, including moving averages, ATR for volatility, and swing detection, to generate trading signals. It aims to provide a structured approach for identifying potential buy and sell opportunities based on market behavior.
Suggestions for Improvement
1. Parameter Flexibility: Consider allowing users to input their own parameters for ATR length, smoothing factor, and RSI levels to customize the indicator for different trading styles.
2. Visual Enhancements: You might want to incorporate more distinct visual cues, such as arrows or different shapes for buy/sell signals, to enhance usability.
3. Backtesting: Incorporating a backtesting feature would be beneficial for traders to evaluate the performance of the strategy over historical data.
If you have specific questions about the code or need modifications, feel free to ask!
Multi-Timeframe Trend & SMA200 Indicator-RazorXFRMulti-Timeframe Trend & SMA200 Indicator
This powerful technical analysis tool combines multiple timeframe analysis with SMA200 positioning to help traders identify trends across different time horizons.
Key Features:
Monitors 5 timeframes simultaneously: M15, H1, H4, Daily, and Weekly
Combines multiple technical indicators for trend determination:
EMA (Exponential Moving Average)
RSI (Relative Strength Index)
MACD (Moving Average Convergence Divergence)
SMA200 (200-period Simple Moving Average)
Visual Elements:
Displays trend arrows directly on the chart for each timeframe
User-friendly table showing:
Trend direction for each timeframe (↑/↓)
Position relative to SMA200 (🔼/🔽)
Customization Options:
Adjustable EMA period (default: 20)
Adjustable RSI period (default: 14)
Adjustable SMA period (default: 200)
Toggle visibility for each timeframe
Built-in Alerts:
SMA200 crossover alerts
Trend change alerts for each timeframe
Trading Applications:
Multi-timeframe trend confirmation
Support/Resistance level identification through SMA200
Trend strength analysis
Market structure analysis across timeframes
How to Use:
The indicator displays arrows on the chart for quick visual reference
Check the table for detailed trend information across timeframes
Use the SMA200 column to confirm overall market bias
Set up alerts for potential trading opportunities
Note: This indicator combines trend analysis with price action relative to the SMA200, providing a comprehensive view of market conditions across multiple timeframes.
Happy Trading! 📈
120 SMA Bitcoin Trend-Momentum StrategyStrategy Rules
Entry Conditions:
Long Entry:
Price is above the 120 SMA (uptrend).
RSI crosses above 50 from below (indicates bullish momentum).
Exit Conditions:
Close the position:
When RSI moves into overbought/oversold territory and reverses (e.g., RSI crosses back below 70 for longs or above 30 for shorts).
Alternative: Use a trailing stop (optional).
Additional Parameters:
Timeframe: Works on both daily and weekly charts, with fewer trades on weekly.
Max Trades: The combination of trend filtering and momentum ensures only high-probability trades, limiting frequency.
Dynamic SR Levels v23 static time frame level daily 4 hour 1 hour and dynamic support and resistance find levels on any time frame looks back 1500 bars for levels
Fibonacci MA Trend IndicatorFibonacci MA Trend Indicator - Overview
The Fibonacci MA Trend Indicator is a powerful tool designed to help traders identify trends and potential reversal zones using Fibonacci-based moving averages and retracement levels. This indicator combines the precision of the Fibonacci sequence with moving average calculations to provide insightful market trend analysis.
How It Works
Custom Fibonacci Moving Average (Fib MA):
The indicator calculates a custom moving average based on a user-defined Fibonacci period, smoothing out price action and identifying the prevailing market trend.
Fibonacci Retracement Levels:
The indicator determines the highest high and lowest low within a configurable lookback period.
Using these extremes, it calculates key Fibonacci retracement levels (100%, 76.4%, 61.8%, 50%, 38.2%, and 0%), which are plotted on the chart to serve as potential support and resistance zones.
Trend Identification:
The relationship between the price, the Fibonacci moving average, and retracement levels is analyzed to determine the market's trend:
Strong Uptrend: When the Fib MA is above the 76.4% level.
Uptrend: When the Fib MA is between the 50% and 76.4% levels.
Downtrend: When the Fib MA is between the 38.2% and 50% levels.
Strong Downtrend: When the Fib MA is below the 38.2% level.
Reversal Zones Highlighting:
The indicator dynamically highlights potential reversal areas on the chart, giving traders visual cues when the price crosses critical levels relative to the Fibonacci MA.
Trend Display:
A label at the top of the chart provides a real-time summary of the current trend, enhancing decision-making and trade planning.
How to Use the Indicator
Trend Confirmation: Use the Fibonacci MA in conjunction with Fibonacci retracement levels to confirm bullish or bearish trends before entering trades.
Support and Resistance: Identify key areas where price may find support or resistance, helping to set stop-loss and take-profit levels.
Reversal Signals: Watch for highlighted reversal zones to anticipate potential trend changes.
Customizable Parameters: Adjust the Fibonacci period and lookback period to suit different trading styles, such as short-term scalping or long-term swing trading.
DeltaAlgo v1This is a Momentum based Indicator, gives you trade signals at Swing High/Swing Low candle, you have to add this Indicator twice, first one for current time frame and another for higher time frame,
This indicator is suitable for various trading strategies, including day trading, swing trading and long-term investment
TIME FRAME SELECTION
1. For Long-term Investment
a)Current TF - monthly
b) Higher TF - 3 month OR 6 month
2. For Day trading/Swing Trading
a)Current TF - 2 hours/Daily
b) Higher TF - Weekly/Monthly OR 3 month
share your experience and follow us to know more about indicator
SMC - Smallest Swing High/LowThe indicator shows swings high/low with candle-by-candle calculations to support identifying impulse movement, correction movement, and pullbacks. You can use the indicator as a basic component that affects the determination of Inducement in SMC (Trading Hub 3.0)
SMC beginners take time to determine inducements correctly the definition. I wrote this indicator while learning SMC to make it easier for beginners.
Usually, you use high/low indicators to determine swing high/low which have characteristics that affect the determination of Inducement
1. Candles after the inside bar are not included in determining swing high/low.
2. Sometimes the normal high/low indicator appears as 2 consecutive highs or lows which confuses you when drawing a zigzag.
3. Engulfing candles can make you draw zigzag wrong.
4. You usually determine high/low by each candle in high time frames (1 hour, 4 hours ...), and many candles loopback in low time frames (1 minute, 5 minutes ...). With adjustments from the inside bar, engulfing candle as above you do not need to adjust the loopback when changing between HTF and LTF.
The indicator is easy to use with color and line options.
Wave Trend -V2Wave Trend -V2 is here to give you a serious edge.
This upgraded version of the popular LazyBear script takes wave trend analysis to the next level.
Here's the deal:
Multi-Timeframe Analysis: Beyond Short-Term Noise:
Novice traders often focus solely on the current timeframe (let's say, the 5-minute chart).
Wave Trend -V2 breaks free from this limitation by analyzing price action across multiple timeframes (1-minute to 1-week).
---This holistic view helps you:
Identify larger trends: Are we in a bullish uptrend on the daily chart, even if the hourly chart is showing some short-term weakness? Wave Trend -V2 helps you see the bigger picture.
Avoid false breakouts: Short-term price spikes can create false signals. By looking at higher timeframes, you can filter out these "noise" and focus on sustainable trends.
---Pressure Analysis: Gauging Market Strength:
Wave Trend -V2 goes beyond simple trend identification.
It incorporates "pressure" analysis to gauge the strength and direction of the current market trend.
This helps you:
Enter trades with confidence: When the trend is strong and the pressure is high, you can enter trades with greater conviction.
Minimize risk: If the pressure is waning or conflicting signals arise, you can avoid entering trades or adjust your risk parameters accordingly.
Impact Point Analysis: Predicting Future Price Moves:
Wave Trend -V2 analyzes the price impact of the last four wave trend crossovers.
Let's say the last impact point was "X", the previous one "X-1", the one before that "X-2", and so on.
The indicator calculates the average price movement between these points using the following simplified formula:
Average Impact = (X - X-1) + (X-1 - X-2) + (X-2 - X-3) / 3
This average provides a valuable estimate of the potential price movement of the next crossover.
Multiple Take Profit Levels: Setting Strategic Targets:
Wave Trend -V2 offers three dynamic take profit levels (TP1, TP2, TP3).
TP1: Based on the estimated average impact.
TP2: Twice the estimated average impact.
TP3: Three times the estimated average impact.
This allows you to set your profit targets strategically, maximizing potential gains while managing risk effectively.
Why don't use the Estmated impact point to stop the trade?
In order to eliminated the WHIPSAW effect! There is no other way...
Wave Trend -V2 is designed for traders who seek a deeper understanding of trend dynamics and desire a more sophisticated approach to trading. By combining multi-timeframe analysis, pressure assessment, and advanced impact point calculations, this indicator empowers you to make more informed trading decisions and potentially improve your trading outcomes.
The indicator work best with combination of other trend type indicators.
Please dont forget that indicators are not miracle medicines , it cannot give you exact results , market was always volative , use at your own discretion.
