MUJBOT - Multi-TF RSI Table
The "Multi-TF RSI Table" indicator is a comprehensive tool designed to present traders with a quick visual summary of the Relative Strength Index (RSI) across multiple timeframes, all within a single glance. It is crafted for traders who incorporate multi-timeframe analysis into their trading strategy, aiming to enhance decision-making by identifying overall market sentiment and trend direction. Here's a rundown of its features:
User Inputs: The indicator includes customizable inputs for the RSI and Moving Average (MA) lengths, allowing users to tailor the calculations to their specific trading needs. Additionally, there is an option to display or hide the RSI & MA table as well as to position it in various places on the chart for optimal visibility.
Multi-Timeframe RSI & MA Calculations: It fetches RSI and MA values from different timeframes, such as 1 minute (1m), 5 minutes (5m), 15 minutes (15m), 1 hour (1h), 4 hours (4h), and 1 day (1D). This multi-timeframe approach provides a thorough perspective of the momentum and trend across different market phases.
Trend and Sentiment Analysis: For each timeframe, the script determines whether the average RSI is above or below the MA, categorizing the trend as "Rising", "Falling", or "Neutral". Moreover, it infers market sentiment as "Bullish" or "Bearish", based on the relationship between the RSI and its MA.
Dynamic Color-Coding: The indicator uses color-coding to convey information quickly. It highlights the trend and sentiment cells in the table with green for "Bullish" and red for "Bearish" conditions. It also shades the timeframe cells based on the RSI value, with varying intensities of green for "Oversold" conditions and red for "Overbought" conditions, providing an immediate visual cue of extreme market conditions.
Customization and Adaptability: The script is designed with customization in mind, enabling users to adjust the RSI and MA lengths according to their trading strategy. Its adaptable interface, which offers the option to display or hide the RSI & MA table, ensures that the tool fits into different trading setups without cluttering the chart.
Ease of Use: By consolidating critical information into a simple table, the "Multi-TF RSI Table" indicator saves time and simplifies the analysis process for traders. It eliminates the need to switch between multiple charts or timeframes, thus streamlining the trading workflow.
In essence, the "Multi-TF RSI Table" is a powerful indicator for Pine Script users on TradingView, offering a multi-dimensional view of market dynamics. It is ideal for both novice and experienced traders who seek to enhance their technical analysis with an at-a-glance summary of RSI trends and market sentiment across various timeframes.
Multitimeframe
ATR MACD - a comparable MACD [Rise Sense]ATR MACD - a comparable MACD 是一位名为tonyblackwhite在知乎上发表的关于MACD的文章启发下制作的指标。这个指标克服了MACD在多个方面的痛点，例如时间变化、跨市场对比和MACD动量生命周期等问题。通过在基础上引入新功能，该指标不仅解决了这些问题，还使用户能够更轻松地比较不同时间级别和商品。
这一创新不仅提高了MACD的使用体验，而且为用户提供更便捷的获取所需信息的途径。通过解决原有MACD存在的限制，ATR MACD - a comparable MACD 为使用者提供了更为全面和灵活的分析工具，有望在MACD的应用中发挥更大的作用。
ATR MACD - a comparable MACD is an indicator created after reading an article on MACD by the author tonyblackwhite on Zhihu. This indicator overcomes various pain points of MACD, such as the MACD time change issue, cross-market MACD issue, MACD momentum lifecycle issue, and more. Building upon this foundation, it directly incorporates features that allow for comparing different timeframes and commodities, aiming to enhance users' experience in utilizing MACD and helping them effortlessly obtain desired information.
This innovation not only improves the user experience with MACD but also provides a more user-friendly way for users to compare different timeframes and commodities. By addressing the limitations of the original MACD, ATR MACD - a comparable MACD offers users a more comprehensive and flexible analytical tool, potentially playing a greater role in the application of MACD.
Multi MAs mit LabelA MA (Moving Average) is useful to identify a trend of an assets. The TradingView builtin indicator "Exponential Moving Average" is useful, but limited in some aspects:
Bound to the active timeframe (e.g. h1)
One MA per indicator instance. Makes it confusing when using multiple
In reality to want to have multiple MAs with different types (EMA, SMA), length and timeframes on your chart to identify trading opportunities. As an example you can use the daily EMA12 and EMA21 to identify the trend and EMA200 on the h4 to enter a trade. That's what this script is used for.
The provided script is an extension to the indicator powered by chipmonk (link to profile below). The original script let you add up to 8 EMAs that can be bound to any timeframe and length. The timeframe and length is displayed on the chart next to EMA.
Unfortunately you can only add EMAs (Exponential Moving Averages) and no SMAs (Simple Moving Averages). That's why the script was extended. You can now choose the type (EMA or SMA) for up to 8 MAs.
Links
Profile of chipmonk
Indicator by chipmonk
Market Structure - Multi-TimeframePivot based channels for 8 individual time-frames. This can be used to identify the support and resistance level for different time-frames. Recommended is 1min as timeframe for the candles sticks. The direction for every pivot-channel is marked in green for bullish and red vor bearish. There exists alerts for Choch and BoS for every timeframe.
MTF Workbench [WinWorld]WHAT IS THIS?
This is MTF Workbench — an indicator, which is based on World Class SMC, but has one main feature — multi-timeframe analysis.
WHY MAKING MTF FEATURE AS A SEPARATE INDICATOR?
We weren't able to implement this feature in the World Class SMC itself due to huge size and complexity of the script, so we have re-written the entire script and optimized it to implement MTF and decided to make a separate script for MTF features in order to not make World Class SMC any heavier, because otherwise the script would probably not even load up on the chart.
WHAT ARE THE FEATURES?
MTF Workbench has two features for now: dashboard and structure mapping. But there will be more soon!
DASHBOARD
Dashboard gathers data from 4 different timeframes and visualize the results in the nice little table on the chart. It is useful to have a dashboard because it visualizes important data in a simple way.
The settings of the dashboard are:
- Position. this settings has 2 subsettings: vertical position (bottom, middle, top) and horizontal position (left, center, right). These subsettings allow you to place dashboard on any side of the chart;
- Text size. This settings defines size of the text in the dashboard, simple as that;
- Timeframe #1, #2, ..., #4. These four settings allow you to choose 4 different timeframes for the table to gather data from.
How to read the dashboard:
- The colour of the specific data cell is the current trend of selected timeframe;
- IDM ⧖ — price has not reached IDM yet;
- IDM ✓ — price grabbed IDM.
This is it for dashboard, now for structure mapping.
STRUCTURE MAPPING
By structure we mean IDM, BoS and ChoCh (if you don't what this means, refer to World Class SMC description to learn the terms, we won't explain it here). In our main indicator structure was only drawn for the timeframe you were currently using, but now you can choose whatever timeframe you want to get structure from!
Why do this matter? Well, this feature alone allows to perform so called intern-structure analysis, because now you will able to compare current timeframe's structure to a higher timeframe's structure and get an a sufficient amount of edge about what Smart Money are doing.
* And yes, this feature only works for analyzing higher timeframes!
The structure itself is plotted the same way as it is in our main indicator, but we also add timeframe to the specific structure event (event is when price reaches IDM, BoS or ChoCh lines) so you could differentiate internal-structure events from any other events.
Live structure is also available in this indicator.
WHY USE THIS INDICATOR?
Even though there a lot of structure mapping indicators with MTF features, they don't have what MTF Workbench has — the correct core structure-mapping algorithm. We took our core structure-mapping algorithm and put it into MTF Workbench to finally bring MTF analysis to life to work state-of-the-art structure-mapping algorithm, which gives any user a huge edge in the market by a very simple reason — this algorithm actually works. Our algorithm proved itself to be efficient and it helps map structure without human intervention, which is a huge leap in smart money trading. To this day we were not able to find an algorithm which would match the quality of our algo! Which why we think making an MTF version of our algorithm is a good thing to do, because now users can finally work with current timeframe and see information about structure from other timeframes using only ONE chart. If you are smart-money trader, you understand that this is a HUGE thing.
For PineScript moderators
We know the rule not publish slightly modifie version of some indicator as another indicator, but this is not a slightly different version. MTF Workbench was completely re-writtten from scratch and optimized so it could fint PineSript's code restrictions such as 500 max local scopes, which World Class SMC with MTF Workbench's features exceeded way too far.
Also, by referencing our World Class SMC indicator we don't promote it in any way. The reference is only made with purposes of
1) Informational reference to help users learn specific terms.
2) Informational reference to some of the World Class SMC features to give users a clue about what exactly MTF Workbench does.
We hope that you will find a great use from MTF Workbench as we did and it will help your level up your edge!
Sincerely, WinWorld Team.
Automating wealth creation since 2022.
[F][IND] - Price Action with Market StructurePrice Action with Market Structure Indicator
Unlock the power of price action and market structure with our comprehensive TradingView indicator. This dynamic tool is designed to enhance your trading strategy by identifying key candle patterns and market trends.
Key Features:
1. Bullish and Bearish Candle Patterns Identifier: Pinbars (PB), Engulfing (BE), and Big Candles (BC), each available in both bullish (Green) and bearish (Red) variations.
2. Entry Signals: Buy only when bullish price action aligns with an established uptrend in market structure. Conversely, sell when bearish price action coincides with a downtrend.
3. Customizable Settings: Tailor the indicator to your preferences with adjustable parameters. Choose from Big Candles (BC), Engulfing patterns (BE), or Pinbars (PB) based on your trading style.
4. Reference Colors and Abbreviations:
- Green = Bullish
- Red = Bearish
- BC = Big Candle
- BE = Engulfing
- PB = Pinbar
5. Stoch RSI Filtering: Refine your entries with Stoch RSI overbought and oversold conditions:
- Overbought = Bearish Price Action Candles (BC, BE, PB) only appear if the Stoch RSI overbought is above the set value.
- Oversold = Bullish Price Action Candles (BC, BE, PB) only appear if the Stoch RSI oversold is below the set value.
- ZigZag Market Structure Line: Visualize market trends with the ZigZag line, providing a clear representation of the prevailing market structure.
How to Use:
1. Identify Price Action: Watch for bullish or bearish price action signals based on your selected candle patterns.
2. Confirm Market Structure: Ensure the market structure aligns with the intended trade direction – uptrend for buy signals and downtrend for sell signals.
3. Fine-Tune with Stoch RSI: Use Stoch RSI to filter signals, increasing the precision of your entries.
4. Customize Your View: Tailor the indicator display to your preferences by selecting specific candle patterns in the input settings.
Gain a deeper understanding of market structure: Understanding the Basics of Market Structure .
Upgrade your trading strategy with the Price Action with Market Structure Indicator. Empower your decisions and master the art of precision trading.
Disclaimer:
This indicator is provided for educational purposes only. Trading involves risk, and users should consult with a financial professional before making any trading decisions.
Your Feedback Matters!
Please feel free to comment or reach out if you have any improvement suggestions or if you would like to request the development of a specific indicator. Your feedback is invaluable!
[blackcat] L1 Bullish Trend Indicator
#### Introduction
The " L1 Bullish Trend Indicator" is a unique tool designed for TradingView, tailored to identify and analyze bullish trends in the market. This guide provides an overview of its definition, history, calculation method, operations, and practical trading applications, tailored for both beginners and experienced traders.
#### Definition
- **Role in Technical Analysis**: Primarily identifies bullish trends by analyzing a combination of price and volume data.
- **Type of Indicator**: Classified as a trend indicator, it operates on multiple time frames, offering a comprehensive view of market momentum.
#### Calculation Method
- **Core Calculation**: Combines price action (hlc3 formula) and volume, calculating a series of Simple Moving Averages (SMAs) on this modified factor.
- **Timeframes**: Incorporates short, mid, and long-term analysis through specific length parameters like `len_shortterm1`, `len_midterm`, and `len_longterm`.
- **Output Interpretation**: Proportions calculated from SMAs indicate the relative strength of trends across different timeframes.
#### Basic Operations
- **Comparison with Similar Indicators**: Similar to SMAs and MACD but provides a more detailed multi-timeframe trend analysis.
- **Unique Features**: The multi-timeframe approach and price-volume factor analysis distinguish it from other trend indicators.
- **Practical Example**: A dominant long-term trend (blue candle) might suggest a more stable bullish trend compared to a short-term spike.
#### Style Settings
- **Visual Representation**: Utilizes `plotcandle` functions with specific colors for different trend conditions, enhancing the visual clarity.
- **Color Coding**: Yellow for short-term trends, fuchsia for skyrocket trends, red for mid-term, and blue for long-term trends.
#### Trading Applications
- **Identifying Trends**: Effective in signaling the start and strength of bullish trends in various markets.
- **Combination with Other Tools**: Can be used alongside tools like RSI or MACD for reinforced trading decisions.
#### Conclusion
The " L1 Bullish Trend Indicator" is a powerful tool for traders looking to understand and capitalize on bullish market trends. Its unique combination of price and volume analysis, along with multi-timeframe integration, makes it a valuable addition to any trader's toolkit. Whether you're a beginner or a seasoned trader, this indicator offers insights that can help refine your market analysis and trading strategies.
Trend Change IndicatorThe Trend Change Indicator is an all-in-one, user-friendly trend-following tool designed to identify bullish and bearish trends in asset prices. It features adjustable input values and a built-in alert system that promptly notifies investors of potential shifts in both short-term and long-term price trends. This alert system is crucial for helping less active investors correctly position themselves ahead of major trend shifts and assists in risk management after a trend is established. It's important to note that this indicator is most effective with assets that historically exhibit strong trends.
At the heart of this tool is the interaction between the 30-day and 60-day Exponential Moving Averages (EMA). A bullish trend is indicated in green when the 30-day EMA is above the 60-day EMA, while a bearish trend is signaled in red when the 30-day EMA is below the 60-day EMA. The appearance of gray alerts users to potential shifts in the current trend as the EMAs converge, falling below the Average True Range (ATR) safety margin. This analysis is conducted across both hourly and daily timeframes, with the 4-hour timeframe providing early signals for daily trend changes. The band visually represents the interaction between the daily EMAs and is also displayed in the second row of the table, with the first row showing the same EMA interaction on the 4-hour timeframe.
This indicator also includes a 140-day (20-week) Simple Moving Average (SMA), visually represented by a line with predictive dots. This feature significantly enhances the investor's ability to understand long-term trends in asset prices, offering forward-looking insights by projecting the SMA value 10 days into the future. The value of this forecast lies in interpreting the slope of the dots; upward trending dots suggest a bullish underlying trend, while downward trending dots indicate a bearish trend. Generally, prices above the SMA signal bullishness, and prices below indicate bearishness.
In summary, the Trend Change Indicator is a comprehensive solution for identifying price trends and managing risk. Its intuitive, color-coded design makes it an indispensable tool for traders and investors who aim to be well-positioned ahead of trend shifts and manage risk once a trend has been established. While it has proven historically valuable in trending markets such as cryptocurrencies, tech stocks, and commodities, it is advisable to use this indicator in conjunction with other technical analysis tools for a more comprehensive and well-rounded decision-making process.
Multi VWAP [MW]Introduction
The Multi VWAP tool extends the concept of using the Anchored Volume Weighted Average Price, popularized by its founder, Brian Shannon, founder of AlphaTrends, and creates automatic AVWAPS for multiple anchor points, such as for 2-day, 3-day, 4-day, 5-day, and custom date anchors as well as automagically creating month-to-date and year-to-date anchors. Currently, most standard VWAP tools allow users to place custom anchored VWAPs, but the routine of doing this for every equity being watched can become cumbersome. This tool makes that process multi-times easier. Brian Shannon is also the author of “Maximum Trading Gains With Anchored VWAP: The Perfect Combination of Price, Time, and Volume”. Available at Amazon.
Settings
Daily VWAP : A continuous line of the the daily Volume Weighted Average Price (VWAP)
Weekly VWAP : A continuous line of the weekly VWAP
2-Day AVWAP : The anchored VWAP from 2 trading days ago (holidays and weekends are excluded in this calculation)
3-Day AVWAP : The anchored VWAP from 3 trading days ago
4-Day AVWAP : The anchored VWAP from 4 trading days ago
5-Day AVWAP : The anchored VWAP from 5 trading days ago. The slope of this line and the position of the price relative to this line can be used to determine trend direction.
10-Day AVWAP : The anchored VWAP from 10 trading days ago
Month-to-Date AVWAP : The anchored VWAP from the beginning of the current month
Year-to-Date AVWAP : The anchored VWAP from the beginning of the current year
Custom Date AVWAP : Sets a date to begin an anchored VWAP starting from any time.
Use only the most recent VWAP for Week, Month, and Year: Toggles on and off the continuous weekly, monthly, and yearly VWAPs
Calculations
This indicator does not provide buy or sell signals. It is simply the VWAP calculated starting from an “anchor point”, or start time. It is the calculated by the summation of Price x Volume / Volume for the period starting at the anchor point.
How to Interpret
According to Brian Shannon, VWAP is an objective measure of what the average trader has paid for a particular equity over a given period, and is the value that large institutional investors frequently use as a trade signal. Therefore, by definition, when the price is above an AVWAP, buyers are in control for that period of time. Likewise, if the price is below the AVWAP, sellers are in control for that period of time.
Shannon also distinguishes the importance of an increasing or decreasing 5 day VWAP, which reflects the price sentiment, objectively, for roughly the last trading week, or 5 trading days. Pricing below a decreasing 5-day VWAP is considered very bearish, while pricing above an increasing 5-day VWAP is considered bullish and is recommended before considering long positions.
Additionally, a custom VWAP can be generated to coincide with important events, such as FOMC meetings, CPI reports, earnings reports, etc.
Practically speaking, price action can tend to change direction when a significant VWAP is hit, voiding buy and sell signals. Like moving averages, this indicator can show, in real-time, how a buy or sell signal should be interpreted. A significant AVWAP line is a point of interest, and can serve as strong support or resistance, because large institutions may be using those values for entries or exits. For a great analysis of how to use AVWAP, visit the AlphaTrends channel on Youtube here or you can buy Brian Shannon’s “Anchored VWAP” book on Amazon.
Other Usage Notes and Limitations
It's important for traders to be aware of the limitations of any indicator and to use them as part of a broader, well-rounded trading strategy that includes risk management, fundamental analysis, and other tools that can help with reducing false signals, determining trend direction, and providing additional confirmation for a trade decision. Diversifying strategies and not relying solely on one type of indicator or analysis can help mitigate some of these risks.
Additionally, the indicator may take a little longer to load than usual. On the rare occasion where it fails to load, you may need to remove the indicator and add it back to your chart. Also, if you do encounter this problem, avoid redrawing your chart while the indicator is being added to the screen.
Acknowledgements
This script uses the MarketHolidays library by @Protervus. Also, for debugging, the JavaScript-style Debug Console by @algotraderdev and the TimeFormattingLibrary by @twingall were invaluable. And, of course, without Brian Shannon's books, videos, and interviews, this indicator would would not be possible.
Golden Cross and Death Cross with ProbabilityThe Advanced Golden and Death Crossover Indicator offers traders a powerful tool for identifying potential buy and sell signals through the classic technical analysis method of moving average crossovers. This script enhances decision-making by dynamically changing the chart background color in response to Golden (bullish) and Death (bearish) crossovers, providing a visual representation of the market's momentum.
Features:
Golden and Death Crossover Detection: Utilizes a 50-period SMA and a 200-period SMA to identify potential buy (golden cross) and sell (death cross) points.
Continuous Background Coloring: Changes the chart's background color to green for golden crosses and red for death crosses, offering an intuitive grasp of market trends.
Customizable Lookback Period: Allows users to adjust the lookback period for calculating the success rate of each crossover, making the indicator adaptable to various trading strategies.
Success Rate Calculation: Provides an additional layer of analysis by calculating the historical success rate of crossovers within the specified lookback period.
Instructions:
Adding the Indicator: Search for "Advanced Golden and Death Crossover Indicator" in the TradingView Indicators & Strategies library and add it to your chart.
Customization: Access the indicator settings to adjust the lookback period according to your trading preferences.
Interpretation: Use the continuous background color as a guide to market conditions, with green indicating bullish momentum and red indicating bearish momentum. The success rate of past crossovers can help assess the reliability of the signals.
How the Script Works:
The Advanced Golden and Death Crossover Indicator operates by continuously monitoring two key moving averages (MAs) on your chart: a short-term (50-period) SMA and a long-term (200-period) SMA. Here's a step-by-step breakdown of its functionality:
Crossover Detection:
Golden Cross: When the short-term MA crosses above the long-term MA, indicating potential bullish momentum, the script identifies this as a Golden Cross signal.
Death Cross: Conversely, when the short-term MA crosses below the long-term MA, suggesting potential bearish momentum, the script flags this as a Death Cross signal.
Background Coloring:
Upon detecting a Golden Cross, the script changes the chart background to green, visually representing a bullish market condition.
Upon detecting a Death Cross, the chart background turns red, indicating bearish market conditions.
This color change remains in effect until the next crossover event, providing a continuous visual cue of the market's trend direction.
Success Rate Calculation:
The script calculates the historical success rate of these crossovers within a user-defined lookback period. This metric helps assess the reliability of the signals based on past performance.
Customization:
Users have the flexibility to adjust the lookback period for the success rate calculation, allowing for customization according to individual trading strategies and risk preferences.
Application in Trading Analysis:
Traders can use this indicator as part of their technical analysis toolkit to make informed decisions about entry and exit points. The visual cues from the continuous background coloring, combined with the success rate of past signals, provide a comprehensive overview of market trends and crossover reliability. It’s important for traders to combine this indicator with other analysis tools and consider broader market conditions to optimize their trading strategy.
Disclaimer:
This script is provided for educational and informational purposes only and should not be construed as investment advice. Trading involves risk, and you should conduct your own research or consult a financial advisor before making investment decisions. The author or distributor of this script bears no responsibility for any trading losses incurred by users.
Bulls VS Bears Momentum IndicatorBulls VS Bears Momentum Indicator
Description:
The Bulls VS Bears Momentum Indicator is a unique TradingView script designed to help traders identify potential momentum shifts in the market. This proprietary indicator uses a fixed Average True Range and a multiplier of to calculate dynamic stop levels that signal bullish or bearish momentum.
Here’s how it operates:
1. Average True Range-Based Stops: The script establishes long and short stop levels based on the half-way point of the high and low (hl2) of the current bar, adjusted by the Average True Range value. The long stop is set below hl2, while the short stop is set above. These levels adapt to market volatility, using the Average True Range to scale the distance from hl2, ensuring that the stops react sensitively to changes in price movement.
2. Directional Assessment: A directional value (dir) is determined by the relationship of the closing price to the previous stop levels. If the price closes above the previous short stop level, a bullish turn is indicated, setting the direction to 1. Conversely, if the price closes below the previous long stop level, a bearish turn is indicated, setting the direction to -1.
3. Momentum Shifts: The script flags bullish momentum when the direction changes from -1 to 1, suggesting a shift in market sentiment from bearish to bullish. Similarly, bearish momentum is flagged when the direction changes from 1 to -1, indicating a potential shift from bullish to bearish sentiment.
4. Visual Cues and Alerts: For ease of use, the indicator plots shapes on the chart: an upward triangle below the bar for bullish momentum and a downward triangle above the bar for bearish momentum. These are color-coded green for bullish and red for bearish signals. Additionally, alert conditions are set for both bullish and bearish momentum to notify traders of potential shifts.
This indicator is intended for traders who want to capture significant shifts in momentum, potentially allowing for timely adjustments to their positions. The concept of using Average True Range-adjusted hl2 as a basis for stop levels introduces an original approach to momentum detection, diverging from traditional moving average or oscillator-based methods.
Remember that no indicator can predict market movements with absolute certainty. As with any trading tool, it's important to use the Bulls VS Bears Momentum Indicator in conjunction with a robust trading strategy and risk management protocols.
Usage Guidelines:
Ideal for mid to long-term trade setups.
Best used in trending markets to detect potential reversals.
Can be combined with other forms of analysis to confirm signals.
This script is a product of extensive market research and personal trading experience, and I am proud to offer it to the TradingView community. For any further queries or clarification on how to integrate this tool into your trading strategy, feel free to reach out.
Disclaimer:
The "Bulls VS Bears Momentum Indicator" is provided for informational purposes only and does not constitute trading advice. As a trader, you assume full responsibility for your trading decisions and the risks associated with financial markets. Past performance is not indicative of future results. Use this tool at your own risk.
MUJBOT - ADVANCED DAILY OPENTitle: MUJBOT - ADVANCED DAILY OPEN
Description:
The "MUJBOT - ADVANCED DAILY OPEN" is a versatile and user-friendly TradingView indicator designed to enhance daily trading strategies by highlighting the daily open price on the chart. This indicator is particularly useful for traders who focus on intraday price movements around the opening price of the trading day.
Key Features:
Daily Open Line: Visually represents the opening price of each trading day on the chart, providing a clear reference point for the day's initial market sentiment.
Dynamic Testing Counter: Keeps track of how many times the price tests or crosses the daily open level within the day. This feature offers insight into the significance and market reaction to the daily open price.
Customizable Display: Includes an option to show or hide the daily open line and the testing counter label. Traders can easily toggle the display according to their preference, keeping their charts uncluttered.
Real-Time Updates: The label and line are dynamically updated in real-time with each new price bar, ensuring traders have the most current information at their fingertips.
Simplicity and Efficiency: With a straightforward design, the indicator adds minimal complexity to the chart while providing valuable trading information.
Usage:
Intraday Trading: Ideal for intraday traders, the indicator helps in identifying how the current price is behaving relative to the opening price, which can be a crucial factor in decision-making.
Support and Resistance: The daily open can act as a natural support or resistance level. Monitoring how the price interacts with this level can provide insights into potential breakout or reversal opportunities.
Trend Analysis: Observing the frequency of the daily open price being tested can give clues about the day's trend strength and potential continuation or reversal.
Customization Options:
Toggle the visibility of the daily open line and label.
The line extends six bars ahead from the daily open for clear visibility.
The label displays the daily open price and the count of how many times it has been tested.
Conclusion:
The "MUJBOT - ADVANCED DAILY OPEN" indicator is a valuable tool for traders who emphasize the importance of the daily open in their trading strategy. Its simplicity, combined with real-time tracking features, makes it an essential addition to the trader's toolkit on TradingView.
Feel free to modify or add any additional details specific to your trading strategy or indicator functionality.
EMA + Lower Timeframe EMA (correct display in Replay Mode)This indicator shows
one EMA for the current timeframe
one EMA for a lower timeframe
Unlike the built-in Tradingview EMA indicator, this indicator shows the correct values for the lower timeframe EMA during Replay Mode.
Intraday Fibonacci Levels [Gorb]Welcome to the Intraday Fibonacci Levels indicator, a dynamic and customizable tool designed for traders who incorporate Fibonacci retracements and extensions into their technical analysis. This indicator focuses on intraday price action, allowing you to select a specific candle from any trading session and visualize crucial Fibonacci levels derived from its high and low prices.
Features:
Candle Selection for Fibonacci Analysis: Select any candle based on its time to plot Fibonacci levels, giving you control over the period of analysis.
Customizable .236 and .618 Fibonacci Levels: Plot and customize the .236 and .618 Fibonacci retracement and extension levels. Adjust color and line style for each level to fit your chart preferences.
User-Friendly Interface: Easy-to-use input fields for selecting the candle time and configuring Fibonacci settings. Intuitive toggle options to display or hide specific Fibonacci levels.
Dynamic Updating: The indicator updates in real-time as new price data is received, ensuring you have the latest Fibonacci levels on your chart.
Usage Case:
This indicator is ideal for day traders and technical analysts who utilize Fibonacci tools to identify potential support and resistance levels, trend reversals, or continuation patterns. Whether you are analyzing a high-impact news event candle or a significant pivot point in the trading day, this indicator helps bring clarity to your Fibonacci-based trading strategy.
Guidelines for Usage:
Use the indicator settings to select the candle time and configure your desired Fibonacci levels. You can choose any time you want, in order to use premarket candles you need to enable electronic hours on your chart to have levels plot from pre/post.
These auto plotted levels can act as pivot points or points of support and resistance for traders to make informed trading decisions near these levels. Analyze the plotted Fibonacci levels in conjunction with other technical indicators or price action patterns for informed trading decisions.
Conclusion:
This indicator is a versatile and essential tool for traders who rely on Fibonacci analysis as part of their trading arsenal. By offering the flexibility to analyze specific candles and customize Fibonacci levels, this indicator empowers you to make more informed trading decisions. Its user-friendly design and real-time updating capabilities ensure that you have access to accurate and relevant Fibonacci data at any moment of the trading day.
RISK DISCLAIMER
All content, tools, scripts & education provided by Monstanzer or Gorb Algo are for informational & educational purposes only. Trading is risk and most lose their money, past performance does not guarantee future results.
Donch +This is an indicator I made for trading Forex to help me see the bigger picture. It is meant for the 30min TF and it includes the following:
- 20 Day High | Low
- 5 Day High | Low
- 4 Hour High | L
- 4 Hour Bars
- Daily Simple Moving Averages
- Weekly Trend Line (connects last week's open to this week's open)
- Daily Trend Line (connects yesterday's open to today's open)
- Horizontal Lines at 0.25% increments (these can be useful for S/R... currency rarely moves more than 1% in a day).
- A table with information about what markets are open and technicals on the pair I am looking at.
- A slight white background fill to highlight the first hour of the US session. Knowing what session you are in is very important in day trading (in my opinion). This lets me go back and see how the US has been trading.
To keep the chart from being "too busy" (it's plenty busy lol), I use a step line and focus on 30min closes. I reference the white lines above and below closes for 4hr highs/lows and don't bother with looking at the high/low of every 30 min bar.
For the table, you will see bright green by the country for the first hour of trading in that session. It will turn to a regular green after the first hour. It will turn yellow the final hour of that session. It will turn red if that market is closed.
You can select from the settings 'inputs' tab to enable/disable any parts of this you don't find useful, for the table you'd go over to the 'style' tab and unselect it there. For example, I don't use the labels regularly. If I were to get confused about what a moving average was or something, I'd enable the labels and clarify.
Currency doesn't like to break out and likes to be stable. Keeping this in mind, you can see how the 20 day high / low and the 5 day high / low act as support and resistance (unless there is a news event to break out on.
I have alerts for the following:
- Price update every hour
- Crossing a trend line
- Crossing a moving average
- Crossing a 0.25% increment
- Making a new 4 hour, 5 day, or 20 day high/low
To enable the alerts, you would click add alert, select the indicator, and click save. To work properly, you'd want to be on the 30min TF before doing this. You will get a lot of alerts (personally I like this because I like to see how currency moves throughout the day). You will get one notification per 30 minutes but not more than that for the particular alert.
Price at time (sub-bar resolution)This simple script shows you the price at a fixed sub-bar time, and is useful for back-testing.
For example, if your strategy is to enter buy stops overnight and check your positions at lunch the next day, then use this indicator to highlight the opening price of the 3rd 60-minute bar. The default is the open price of the second 30-minute bar ("10 am").
Key Levels | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Key Levels indicator! This indicator allows you to see the key levels on the current chart such as previous day lows / highs, pre-market data, yesterday's close, today's open, pivot points, and much more! It's highly user-friendly with every line being individually customizable and having a wide range of text options.
Features of the new Key Levels indicator :
Today & Yesterday High, Low, Open & Close
Previous 3-10th Day Highs & Lows
Pre-Market Highs & Lows
Previous Month High & Low
High & Low Pivots
Combination Of Same Levels
Wide Customization Options
📌 HOW DOES IT WORK ?
Key levels are important areas in a chart where a significant reaction is expected. In this indicator, you can enable up to the previous 10 days highs and lows, yesterday's close / today's open, and the latest pivot points. Key levels generally act like support & resistance. Here are a few examples :
As shown, key levels play an important role determining the current trend and can be useful in identifying potential levels where the market will reverse or breakout.
🚩UNIQUENESS
1. More Key Levels
We believe that past key levels may be as important as current ones. Some of the key-levels indicators do not include them even though strong reactions can happen around them. Thus, our indicator let's you check up to 10 days backwards.
You can select the ones you think that are the most important and just enable them, making the indicator customizable to your liking.
2. Pre-Market Data
With assets that have pre-market data available, it's crucial to analyze it to have a better understanding of the market in regular trading hours. Our indicator will plot pre-market highs and lows, even if your chart is in the regular trading hours only mode. We believe this will be helpful with your analyzing process.
3. Combination
The indicator can dynamically combine same key levels, so you can have a clear look to the chart without lines & text colliding with each other. This would also help you determine stronger key levels as if a key level occured more than a time, it could be a sign that it's a stronger one. An example :
To summarize, using key levels is an essential skill while detecting zones where strong reactions are expected. This indicator provides up to 10 day's high and low levels, and all of them can be individually turned on / off. Traders that believe older key levels can be important and want to look at the whole picture may use this feature. Also for assets that have pre-market data available, the indicator provides pre-market levels as well. Besides all that, High & Low pivots will provide latest key levels so traders can use them in their decisions.
⚙️SETTINGS
1. General Configuration
You can enable / disable :
1. Today's High / Low / Open
2. Yesterday's High / Low / Close
3. 3th-10th Day High / Low
4. Pre-Market High / Low
5. Previous Month High / Low
You can also change the colors and switch their line styles between solid, dashed and dotted.
2. High & Low Pivots
Enabled -> Enable / Disable High & Low Pivots
Pivot Range -> The range used in the detection of pivot points. Larger values will result in less pivot points, while smaller values will provide more pivot points. This essentially determines how many bars to the right & left shouldn't exceed the pivot's high or low.
You can also change the text color and text size of the pivots from the settings.
3. Style settings
Text Offset -> How many bars of offset should the texts have to the right. Increase if text collides with bars while Align Labels option is set to "Right".
Extend Lines -> If enabled, lines will be extended infinitely to right & left. If disabled, all lines will be clamped in their timelines.
Show Line Values -> If enabled, line information text will contain their price.
Align Labels ->
Right = Align line labels to right.
Center = Line labels will always be at the center of the screen.
Overbought / Oversold Screener## Introduction
**The Versatile RSI and Stochastic Multi-Symbol Screener**
**Unlock a wealth of trading opportunities with this customizable screener, designed to pinpoint potential overbought and oversold conditions across 17 symbols, with alert support!**
## Description
This screener is suitable for tracking multiple instruments continuously.
With the screener, you can see the instant RSI or Stochastic values of the instruments you are tracking, and easily catch the moments when they are overbought / oversold according to your settings.
The purpose of the screener is to facilitate the continuous tracking of multiple instruments. The user can track up to 17 different instruments in different time intervals. If they wish, they can set an alarm and learn overbought oversold according to the values they set for the time interval of the instruments they are tracking.**
Key Features:
Comprehensive Analysis:
Monitors RSI and Stochastic values for 17 symbols simultaneously.
Automatically includes the current chart's symbol for seamless integration.
Supports multiple timeframes to uncover trends across different time horizons.
Personalized Insights:
Adjust overbought and oversold thresholds to align with your trading strategy.
Sort results by symbol, RSI, or Stochastic values to prioritize your analysis.
Choose between Automatic, Dark, or Light mode for optimal viewing comfort.
Dynamic Visual Cues:
Instantly highlights oversold and overbought symbols based on threshold levels.
Timely Alerts:
Stay informed of potential trading opportunities with alerts for multiple oversold or overbought symbols.
## Settings
### Display
**Timeframe**
The screener displays the values according to the selected timeframe. The default timeframe is "Chart". For example, if the timeframe is set to "15m" here, the screener will show the RSI and stochastic values for the 15-minute chart.
** Theme **
This setting is for changing the theme of the screener. You can set the theme to "Automatic", "Dark", or "Light", with "Automatic" being the default value. When the "Automatic" theme is selected, the screener appearance will also be automatically updated when you enable or disable dark mode from the TradingView settings.
** Position **
This option is for setting the position of the table on the chart. The default setting is "middle right". The available options are (top, middle, bottom)-(left, center, right).
** Sort By **
This option is for changing the sorting order of the table. The default setting is "RSI Descending". The available options are (Symbol, RSI, Stoch)-(Ascending, Descending).
It is important to note that the overbought and oversold coloring of the symbols may also change when the sorting order is changed. If RSI is selected as the sorting order, the symbols will be colored according to the overbought and oversold threshold values specified for RSI. Similarly, if Stoch is selected as the sorting order, the symbols will be colored according to the overbought and oversold threshold values specified for Stoch.
From this perspective, you can also think of the sorting order as a change in the main indicator.
### RSI / Stochastic
This area is for selecting the parameters of the RSI and stochastic indicators. You can adjust the values for "length", "overbought", and "oversold" for both indicators according to your needs. The screener will perform all RSI and stochastic calculations according to these settings. All coloring in the table will also be according to the overbought and oversold values in these settings.
### Symbols
The symbols to be tracked in the table are selected from here. Up to 16 symbols can be selected from here. Since the symbol in the chart is automatically added to the table, there will always be at least 1 symbol in the table. Note that the symbol in the chart is shown in the table with "(C)". For example, if SPX is open in the chart, it is shown as SPX(C) in the table.
## Alerts
The screener is capable of notifying you with an alarm if multiple symbols are overbought or oversold according to the values you specify along with the desired timeframe. This way, you can instantly learn if multiple symbols are overbought or oversold with one alarm, saving you time.
IMGPro - V1.0IMG PRO uses nine sequential stages to analyse price action and alert users to potential Trade Setups using various Price Action Concepts as detailed below:
1. Identify Higher Timeframe Market Structure and Points of Interest (HTF-POIs)
2. Calculate position size based on your risk appetite, fees and account leverage and customisable maximum trade risk
3. Verify price is in a premium or discount
4. Determine Lower Timeframe Market Structure Break Type
5. Apply Early Warning Systems if enabled
6. Alert you to risk managed trade setups at enabled HTF-POIs
7. Alert you to unentered trade invalidations
8. Alert you to trade exits based on your set criteria
9. Provide Additional Alerts such as Higher Timeframe SFPs and Market Structure Breaks that act as potential early warnings that a trade setup may be forming
1. HTF POIs Available with IMG PRO:
a. HTF Market Structure Range Highs and Lows
b. HTF Order Blocks
c. HTF Order Blocks & FVG Overlaps
d. HTF Breakers
e. HTF Breakers & FVG Overlaps
f. HTF FVGs
g. Internal Liquidity Levels
These levels are used for Trade Signals based on user settings applied. Details provided in the trade setup section below
a. Higher Timeframe Market Structure Range High and Low through Multiple Timeframe Analysis:
Market Structure can be defined using several techniques. The IMG indicators employ the Close through High/Low technique, which necessitates a candle to close through a structural level to validate a structural break and designate a new range.
Example: H12 Market Structure visualisation on a H12 Chart with annotations:
By selecting a particular Market Structure timeframe in the settings, the indicator immediately illustrates both current and historical market structures for the chosen timeframe across all subordinate timeframes, subject to the limitations of your Tradingview subscription.
Example: H12 Market Structure visualisation on a H1 Chart with annotations:
b. Higher Timeframe Order Blocks
An Order Block represents the last candle of the opposite direction preceding a Market Structure Break. For instance, a bullish Order Block is identified as the final bearish candle leading to a bullish market structure break, and vice versa for bearish Order Blocks.
Example: H12 OB visualisation on a H12 Chart with annotations:
When activated, the indicator will highlight the Higher Timeframe Order Blocks responsible for a Market Structure Break on all subordinate timeframes relative to the chosen Market Structure Timeframe.
Note: if multiple OBs exist, the indicator will display the OB closest to the new range extreme
Example: H12 OB visualisation on a H1 Chart with annotations:
c. HTF Order Blocks & HTF FVG Overlaps
When enabled, the IMG Pro will only display overlaps of Order Blocks and FVGs. These are strong points of interest to look for trade setups
Example of the indicator displaying a Higher Timeframe’s (HTF) OBs + FVGs on a Lower Timeframe (LTF) chart:
The upper chart labelled H12/H12 is the indicator displaying H12 Structure and OB+FVGs on a H12 chart.
The lower chart labelled H12/H1 is the indicator displaying H12 OB+FVGs on a H1 chart:
d. Higher Timeframe Breakers
A Breaker Block is identified as the most recent Order Block that has been breached by price, leading to an opposite Market Structure Break. For example, a bullish Breaker Block is the last bearish Order Block that price has passed through, confirming a bullish structural break, and the inverse is true for bearish Breakers.
Example: H12 Breaker visualisation on a H12 Chart with annotations:
Once enabled, the system will display Higher Timeframe Breaker Blocks after an opposite Market Structure Break is confirmed on all subordinate timeframes.
Example: H12 Breaker visualisation on a H1 Chart with annotations:
e. HTF Breakers & HTF FVG Overlaps
When enabled, the IMG Pro will only display overlaps of Breakers and FVGs. These are strong points of interest to look for trade setups
Example:
The upper chart labelled H12/H12 is the indicator displaying H12 Structure and Breakers+FVGs on a H12 chart
The lower chart labelled H12/H1 is the indicator displaying H12 Breakers+FVGs on a H1 chart
f. Higher Timeframe Fair Value Gaps (FVGs)
A Fair Value Gap is a concept used by price action traders to identify market inefficiencies, where buying and selling are not balanced. It appears on a chart as a triple-candle pattern, with a large candle flanked by two others whose highs and lows do not overlap with the large candle, creating a gap. This gap often attracts the price towards it before the market resumes its previous direction.
Example of the indicator displaying a Higher Timeframe’s FVGs on a Lower Timeframe (LTF) chart:
-The upper chart labelled H12/H12 is the indicator displaying H12 Structure and FVGs on a H12 chart.
-The lower chart labelled H12/H1 is the indicator displaying H12 FVGs on a H1 chart
g. HTF Internal Liquidity Levels (FVGs)
A HTF Liquidity Level is a Higher Timeframe three bar Pivot that forms inside an active range.
When enabled, the system will display all UNTESTED HTF pivots formed within an active range. Lines will stop extending once they are either tested or HTF Market Structure Breaks
Example: H12 Liquidity Levels on a H1 Chart:
2. Risk Management and Position Sizing:
a. Automated Position Sizing:
The System will automatically calculate position size based on the account size, max leverage and risk appetite (capital risk per trade) details input in settings. Calculated trade details are included in the Tradingview Alerts as well as interactive labels on the charts.
Details include but are not limited to:
Trade Timeframe
Side: Long/Short
Type: Limit/Market
Position Size in $ and Units
Lot sizes if applicable
Trade Risk %
Take Profit Level
Entry Price
Stoploss Price
b. Maximum Trade Risk:
IMG PRO has the ability to invalidate potential trade entries if it exceeds your maximum Trade Risk threshold. Trade Risk is the % price difference between entry and stoploss.
When an invalid signal is generated, the signal will not be shaded and the interactive label will display the reason for invalidation
In the example below, Max Trade Risk is set to 2% , but the trade signal had a trade risk of 5.11% invalidating the signal with a grey triangle
3. Verify Premium / Discount:
The system can be setup to only display signals that are in the top or bottom n% of the Market Structure Range
A value of 0 (default) will disable the premium/discount system and utilize the entire range for all signal types (bullish and bearish)
EXAMPLES:
A value of 50% will only display bullish signals that have, at minimum, tagged the bottom half of the range and vice versa for bearish signals.
A value of 25% will only display bullish signals that have tagged the bottom quarter of the range and vice versa.
A value of 38.2% will display signals that tag the top and bottom 38.2% of the range (equivalent of the 61.8% OTE. retracement) Etc.
4. Determine Lower Timeframe Market Structure Break Type
IMG Pro has two options for Lower Timeframe Structure Breaks:
Market Structure Breaks: When selected, the system will use the first opposite pivot (in the current chart timeframe) to the left of a confirmed SFP to calculate a break in market structure when price closes through it:
Market Structure Shifts: When selected, the system will use the first opposite pivot (in the current chart timeframe) to the left OR right of a confirmed SFP to calculate a break in market structure when price closes through it. MSS’ are more sensitive and may provide more false signals but are useful when there are big spike liquidity runs:
5. Apply Early Warning Systems if enabled:
The IMG Pro indicator has an early warning system that will generate a potential setup alert before a HTF SFP is confirmed
There are two types of early warnings:
LTF Structure Break Early Warning:
If enabled, the system will generate a potential setup alert if price cuts through a HTF level (Range Extreme / Internal Liquidity) and prints an opposite LTF MSB back through that level. This is a more aggressive approach where the system does not wait for the HTF SFP to be confirmed.
Example: In the screenshot below, the system did not wait for a H12 SFP to be confirmed, allowing it to signal an entry that would have otherwise been missed if the LTF Structure Break early warning system was not enabled
LTF FVG Early Warning:
If enabled, the system will generate a potential setup alert if price cuts through a HTF level (Range Extreme / Internal Liquidity) and prints an opposite LTF FVG back through that level. No LTF MSB is required and a limit order at the FVG is signalled. This is a more aggressive approach where the system does not wait for the HTF SFP to be confirmed.
Example: In the screenshot below, the system did not wait for a H12 SFP to be confirmed, signalling an entry as soon as an opposite LTF FVG is confirmed pushing price back through the HTF Liquidity Levels
6. Trade Setup Types Available with IMG PRO:
The system will alert you to potential trade setups at these HTF POIs: .
a. Higher Timeframe (HTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at Range Extremes
b. Higher Timeframe (HTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at enabled HTF POIs
c. Higher Timeframe (HTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at All Internal Liquidity Levels (With Trend and Counter Trend)
d. Higher Timeframe (HTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at All Internal Liquidity Levels (With Trend ONLY)
e. Lower Timeframe (LTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at enabled HTF POIs
f. Multiple LTF Entry Options once a signal is confirmed
a. HTF Swing Failure followed by a LTF MSB at Range Extremes
A Swing Failure Pattern (SFP) is a technical analysis concept used in trading to identify potential reversals in price trends. It occurs when the price attempts to surpass a previous high or low but fails to sustain that level, indicating a possible change in market direction. There are multiple methods to define a SFP but this indicator uses the failure to close through a Key Level. When confirmed, HTF SFPs will be displayed on-screen and an alert will fire if enabled.
Example: EURUSD H12 Trade Setup Alerts at Range Extremes on a H1 Chart:
Alerts to Enter at Lower Timeframe MSBs
When enabled, a potential trade setup label and alert will generate when a HTF SFP is confirmed at a Range Extreme followed by a Chart Timeframe (Lower Timeframe) Market Structure Break (MSB). These signals are agnostic to current Market Structure bias and will generate at both extremes.
b. HTF Swing Failure followed by a LTF MSB at HTF POIs:
When enabled, a trade setup label and alert will generate when a HTF SFP is confirmed at an enabled Higher Timeframe POI (Order Blocks / Breakers / FVGs) followed by a Chart Timeframe (Lower Timeframe) Market Structure Break (MSB). These signals are always in line current Market Structure bias.
Example: H12 SFPs and Trade Setups at HTF POIs with Fluid Exits on a H1 Chart:
c. HTF Swing Failure followed by a LTF MSB at All Internal Liquidity Levels ( With Trend and Counter Trend ):
When enabled, a trade setup label and alert will generate when a HTF SFP is confirmed at an Internal Liquidity Level followed by a LTF Market Structure Break (MSB) or Market Structure Shift(MSS). These signals are agnostic to HTF Market Structure bias and will alert to setups with and counter trend.
Example:
d. HTF Swing Failure followed by a LTF MSB at All Internal Liquidity Levels ( With Trend ONLY )
Same as (c), but will only signal trades that are in line with higher timeframe structure. I.e If HTF Structure is bullish, then only bullish trades will be signalled.
e. LTF Swing Failure followed by a LTF MSB at enabled HTF POIs
The system will alert you to a lower timeframe setup if these conditions are met inside enabled HTF POIs (OBs / Breakers / FVGs):
- LTF SFP
- LTF MSB
Example:
f. LTF Entry Options:
IMG PRO provides the following options for LTF Entries:
i. Limit Entry at MSB Level
ii. Limit Entry at Breaker
iii. Limit Entry at Raid Candle
iv. Limit Entry at OTE 70.5% Retracement
v. Market Entries (where applicable)
Trade entry alerts will detail limit entry prices based on the option selected here.
7. Unentered Trade Invalidations:
IMG Pro can invalidate unentered signals based on these custom criteria:
a. Opposite HTF SFP Before Entry
b. TP Hit Before Entry
c. Confirmed Opposite Signal Before Entry
If enabled and criteria met, the system will alert you to cancel any limit orders for the trade that is being invalidated.
8. Trade Exit Types Available with IMG PRO:
The system provides the following options for trade exit alerts:
a. Exit at Fixed R:R
b. Exit at a confirmed Opposite Signal (Fluid Exits)
c. Exit at enabled and untested HTF POIs
d. Exit on an opposite HTF SFP at a liquidity level
Example: H12 SFPs and Potential Trade Setups at Internal Liquidity Levels with Exit at closest untested HTF POI on a H1 Chart:
9. IMG PRO Alerts Overview
The system provides notifications of:
a. Confirmed HTF Market Structure Breaks
b. Confirmed HTF SFPs at Range Extremes
c. Confirmed HTF SFPs at HTF POIs
d. Confirmed HTF SFPs at Liquidity Levels
e. Potential Trade Setups at Range Extremes
f. Potential Trade Setups at HTF Points of Interest
g. Potential Trade Setups at HTF Liquidity Levels
h. LTF SFPs inside HTF POIs
i. Potential LTF Setups at HTF POIs
j. All Exit Types including Stoplosses
k. All Trade Invalidations
To enable alerts, right-click on the indicator and select “Add Alert on IMG ...”. You may customise the alert name as desired and then click 'Create' to finalise the alert setup.
General Note:
There is no system, indicator, algorithm, or strategy that can provide absolute certainty in predicting market movements. Use trading indicators as a tool to assist with trading decisions; manage your risk wisely.
Stay safe and Happy Trading!
IMGCore - V1.0IMG Core uses five sequential stages to analyse price action and alert users to potential Trade Setups using various Price Action Concepts as detailed below:
1. Identify Higher Timeframe Market Structure and Points of Interest (HTF-POIs)
2. Calculate position size based on your risk appetite, fees and account leverage and customisable maximum trade risk
3. Alert you to risk managed trade setups at enabled HTF-POIs
4. Alert you to trade exits based on your set criteria
5. Provide Additional Alerts such as Higher Timeframe SFPs and Market Structure Breaks that act as potential early warnings that a trade setup may be forming
1. HTF POIs Available with IMG CORE:
a. HTF Market Structure Range Highs and Lows
b. HTF Order Blocks
c. HTF Breakers
d. HTF FVGs
a. Higher Timeframe Market Structure Range High and Low through Multiple Timeframe Analysis:
Market Structure can be defined using several techniques. The IMG indicators employ the Close through High/Low technique, which necessitates a candle to close through a structural level to validate a structural break and designate a new range.
Example: H12 Market Structure visualisation on a H12 Chart with annotations:
By selecting a particular Market Structure timeframe in the settings, the indicator immediately illustrates both current and historical market structures for the chosen timeframe across all subordinate timeframes, subject to the limitations of your Tradingview subscription.
Example: H12 Market Structure visualisation on a H1 Chart with annotations:
b. Higher Timeframe Order Blocks
An Order Block represents the last candle of the opposite direction preceding a Market Structure Break. For instance, a bullish Order Block is identified as the final bearish candle leading to a bullish market structure break, and vice versa for bearish Order Blocks.
Example: H12 OB visualisation on a H12 Chart with annotations:
When activated, the indicator will highlight the Higher Timeframe Order Blocks responsible for a Market Structure Break on all subordinate timeframes relative to the chosen Market Structure Timeframe.
Note: if multiple OBs exist, the indicator will display the OB closest to the new range extreme
Example: H12 OB visualisation on a H1 Chart with annotations:
c. Higher Timeframe Breakers
A Breaker Block is identified as the most recent Order Block that has been breached by price, leading to an opposite Market Structure Break. For example, a bullish Breaker Block is the last bearish Order Block that price has passed through, confirming a bullish structural break, and the inverse is true for bearish Breakers.
Example: H12 Breaker visualisation on a H12 Chart with annotations:
Once enabled, the system will display Higher Timeframe Breaker Blocks after an opposite Market Structure Break is confirmed on all subordinate timeframes.
Example: H12 Breaker visualisation on a H1 Chart with annotations:
d. Higher Timeframe Fair Value Gaps (FVGs)
A Fair Value Gap is a concept used by price action traders to identify market inefficiencies, where buying and selling are not balanced. It appears on a chart as a triple-candle pattern, with a large candle flanked by two others whose highs and lows do not overlap with the large candle, creating a gap. This gap often attracts the price towards it before the market resumes its previous direction.
Example of the indicator displaying a Higher Timeframe’s FVGs on a Lower Timeframe (LTF) chart:
-The upper chart labelled H12/H12 is the indicator displaying H12 Structure and FVGs on a H12 chart.
-The lower chart labelled H12/H1 is the indicator displaying H12 FVGs on a H1 chart
2. Risk Management and Position Sizing:
a. Automated Position Sizing:
The System will automatically calculate position size based on the account size, max leverage and risk appetite (capital risk per trade) details input in settings. Calculated trade details are included in the Tradingview Alerts as well as interactive labels on the charts.
Details include but are not limited to:
Trade Timeframe
Side: Long/Short
Type: Limit/Market
Position Size in $ and Units
Lot sizes if applicable
Trade Risk %
Take Profit Level
Entry Price
Stoploss Price
b. Maximum Trade Risk:
IMG Core has the ability to invalidate potential trade entries if it exceeds your maximum Trade Risk threshold. Trade Risk is the % price difference between entry and stoploss.
When an invalid signal is generated, the signal will not be shaded and the interactive label will display the reason for invalidation
In the example below, Max Trade Risk is set to 2% , but the trade signal had a trade risk of 5.11% , invalidating the signal with a grey triangle
3. Trade Setup Types Available with IMG CORE:
The system will alert you to potential trade setups at these HTF POIs: .
a. Higher Timeframe (HTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at Range Extremes
b. Higher Timeframe (HTF) Swing Failure followed by a Higher Timeframe (HTF) MSB at enabled HTF POIs
c. Lower Timeframe (LTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at enabled HTF POIs
d. Multiple LTF Entry Options once a signal is confirmed
a. HTF Swing Failure followed by a Lower Timeframe (LTF) MSB at Range Extremes
A Swing Failure Pattern (SFP) is a technical analysis concept used in trading to identify potential reversals in price trends. It occurs when the price attempts to surpass a previous high or low but fails to sustain that level, indicating a possible change in market direction. There are multiple methods to define a SFP but this indicator uses the failure to close through a Key Level. When confirmed, HTF SFPs will be displayed on-screen and an alert will fire if enabled.
Example: H12 SFPs at Range Extremes on a H1 Chart:
Alerts to Enter at Lower Timeframe MSBs
When enabled, a potential trade setup label and alert will generate when a HTF SFP is confirmed at a Range Extreme followed by a Chart Timeframe (Lower Timeframe) Market Structure Break (MSB). These signals are agnostic to current Market Structure bias and will generate at both extremes.
b. HTF Swing Failure followed by a Lower Timeframe (LTF) MSB at HTF POIs:
When enabled, a potential trade setup label and alert will generate when a HTF SFP is confirmed at an enabled Higher Timeframe POI (Order Blocks / Breakers / FVGs) followed by a Chart Timeframe (Lower Timeframe) Market Structure Break (MSB). These signals are always in line current Market Structure bias.
Example: H12 SFPs and Trade Setups at HTF POIs with Fluid Exits on a H1 Chart:
c. LTF Swing Failure followed by a LTF MSB at Range Extremes at enabled HTF POIs
The system will alert you to a lower timeframe setup if these conditions are met inside enabled HTF POIs (OBs / Breakers / FVGs):
- LTF SFP
- LTF MSB
Signals will alert you to enter a Limit Entry at the LTF MSB Level OR LTF Breaker
Example:
d. LTF Entry Options:
IMG CORE provides the following options for LTF Entries:
i. Limit Entry at Lower Timeframe MSB Levels
ii. Limit Entry at Lower Timeframe Breakers
Based on this selection, the trade setup alert will provide entry price details to set limit orders at the MSB level or LTF Breaker High.
4. Trade Exit Types Available with IMG CORE:
The system provides the following options for trade exit alerts:
i. User defined Risk to Reward (R:R)
ii. On a confirmed Opposite Signal (Fluid Exits)
Example: H12 Long Entry and Exit Signal using Fluid Exits H1 Chart:
5. IMG CORE Alerts Overview
The system provides notifications of:
1. Confirmed HTF Market Structure Breaks
2. Confirmed HTF SFPs at Range Extremes
3. Confirmed HTF SFPs at HTF POIs
4. Potential Trade Setups at Range Extremes
5. Potential Trade Setups at HTF Points of Interest (HTF-LTF and LTF-LTF)
6. Fixed R Trade Exits
7. Exit on Opposing Signals (Fluid Exits)
To enable alerts, right-click on the indicator and select “Add Alert on IMG ...”. You may customise the alert name as desired and then click 'Create' to finalise the alert setup.
General Note:
There is no system, indicator, algorithm, or strategy that can provide absolute certainty in predicting market movements. Use trading indicators as a tool to assist with trading decisions; manage your risk wisely.
Stay safe and Happy Trading!
IMGLite - V1.0IMG indicators use five sequential stages to analyse price and alert users to potential Trade Setups using various Price Action Concepts as detailed below:
a. Identify Higher Timeframe Market Structure and Points of Interest (HTF-POIs)
b. Calculate position size based on your risk appetite, fees and account leverage
c. Alert you to risk managed trade setups at enabled HTF-POIs
d. Alert you to trade exits based on your set criteria
e. Provide Additional Alerts such as Higher Timeframe SFPs and Market Structure Breaks that act as potential early warnings that a trade setup may be forming
a. HTF POIs Available with IMG LITE:
1. HTF Market Structure Range Highs and Lows
2. HTF Order Blocks
3. HTF Breakers
4. HTF FVGs
1. Higher Timeframe Market Structure Range High and Low through Multiple Timeframe Analysis:
Market Structure can be defined using several techniques. The IMG indicators employ the Close through High/Low technique, which necessitates a candle to close through a structural level to validate a structural break and designate a new range.
Example: H12 Market Structure visualisation on a H12 Chart with annotations:
By selecting a particular Market Structure timeframe in the settings, the indicator immediately illustrates both current and historical market structures for the chosen timeframe across all subordinate timeframes, subject to the limitations of your Tradingview subscription.
Example: H12 Market Structure visualisation on a H1 Chart with annotations:
2. Higher Timeframe Order Blocks
An Order Block represents the last candle of the opposite direction preceding a Market Structure Break. For instance, a bullish Order Block is identified as the final bearish candle leading to a bullish market structure break, and vice versa for bearish Order Blocks.
Example: H12 OB visualisation on a H12 Chart with annotations:
When activated, the indicator will highlight the Higher Timeframe Order Blocks responsible for a Market Structure Break on all subordinate timeframes relative to the chosen Market Structure Timeframe.
Note: if multiple OBs exist, the indicator will display the OB closest to the new range extreme
Example: H12 OB visualisation on a H1 Chart with annotations:
Higher Timeframe Breakers
A Breaker Block is identified as the most recent Order Block that has been breached by price, leading to an opposite Market Structure Break. For example, a bullish Breaker Block is the last bearish Order Block that price has passed through, confirming a bullish structural break, and the inverse is true for bearish Breakers.
Example: H12 Breaker visualisation on a H12 Chart with annotations:
Once enabled, the system will display Higher Timeframe Breaker Blocks after an opposite Market Structure Break is confirmed on all subordinate timeframes.
Example: H12 Breaker visualisation on a H1 Chart with annotations:
Higher Timeframe Fair Value Gaps (FVGs)
A Fair Value Gap is a concept used by price action traders to identify market inefficiencies, where buying and selling are not balanced. It appears on a chart as a triple-candle pattern, with a large candle flanked by two others whose highs and lows do not overlap with the large candle, creating a gap. This gap often attracts the price towards it before the market resumes its previous direction.
Example of the indicator displaying a Higher Timeframe’s FVGs on a Lower Timeframe (LTF) chart:
-The upper chart labelled H12/H12 is the indicator displaying H12 Structure and FVGs on a H12 chart.
-The lower chart labelled H12/H1 is the indicator displaying H12 FVGs on a H1 chart
b. Risk Management and Position Sizing:
The System will automatically calculate position size based on the account size, max leverage and risk appetite details input in settings. Calculated trade details are included in the Tradingview Alerts as well as interactive labels on the charts.
Details include but are not limited to:
Trade Timeframe
Side: Long/Short
Type: Limit/Market
Position Size in $ and Units
Lot sizes if applicable
Trade Risk %
Take Profit Level
Entry Price
Stoploss Price
c. Trade Setup Types Available with IMG LITE:
The system will alert you to potential trade setups at these HTF POIs: .
1. Higher Timeframe (HTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at Range Extremes
2. Lower Timeframe (LTF) Swing Failure followed by a Lower Timeframe (LTF) MSB at enabled HTF POIs
1. HTF Swing Failure followed by a Lower Timeframe (LTF) MSB at Range Extremes
A Swing Failure Pattern (SFP) is a technical analysis concept used in trading to identify potential reversals in price trends. It occurs when the price attempts to surpass a previous high or low but fails to sustain that level, indicating a possible change in market direction. There are multiple methods to define a SFP but this indicator uses the failure to close through a Key Level. When confirmed, HTF SFPs will be displayed on-screen and an alert will fire if enabled.
Example: H12 SFPs at Range Extremes on a H1 Chart:
Alerts to Enter at Lower Timeframe MSBs
When enabled, a potential trade setup label and alert will generate when a HTF SFP is confirmed at a Range Extreme followed by a Chart Timeframe (Lower Timeframe) Market Structure Break (MSB). These signals are agnostic to current Market Structure bias and will generate at both extremes.
Signals will alert you to enter a Limit Entry at the Lower Timeframe MSB Level
2. LTF Swing Failure followed by a LTF MSB at Range Extremes at enabled HTF POIs
The system will alert you to a lower timeframe setup if these conditions are met inside enabled HTF POIs (OBs / Breakers / FVGs):
- LTF SFP
- LTF MSB
Signals will alert you to enter a Limit Entry at the Lower Timeframe MSB Level
Example:
d. Trade Exit Types Available with IMG Lite:
Exit alerts will trigger at user defined R:R
Example: H12 SFPs and Potential Trade Setups with Exits at fixed 2R on a H1 Chart:
e. IMG LITE Alerts Overview
Higher Timeframe Market Structure Breaks (HTF MSBs)
The system provides notifications of confirmed Market Structure Breaks based on the selected Higher Timeframe Market Structure Timeframe. For instance, selecting a weekly structure will trigger an alert when weekly price closes through a weekly structural level, and the same logic applies to other timeframes like D, H12, H4, H1 etc.
The system provides notifications of:
1. Confirmed HTF Market Structure Breaks
2. Confirmed HTF SFPs at Range Extremes
3. Potential Trade Setups (defined above)
4. Fixed R Trade Exits
To enable alerts, right-click on the indicator and select “Add Alert on IMG ...”. You may customise the alert name as desired and then click 'Create' to finalise the alert setup.
General Note:
There is no system, indicator, algorithm, or strategy that can provide absolute certainty in predicting market movements. Use trading indicators as a tool to assist with trading decisions; manage your risk wisely.
Stay safe and Happy Trading!
Frankie Candles Essentials [LuxAlgo]The Frankie Candles Essentials toolkit is a collection of essential features used by trader Frankie Candles. This toolkit focuses on the relationship between MTF oscillator divergences and volume profiles, allowing the detection of different kinds of reversals. Retracements from the "Golden Pocket" features are also included.
🔶 USAGE
When adding the script to your chart you will be prompted to select the calculation interval of the "Top-Down Volume Profile", simply click on your chart where you want the starting and ending points of the calculation interval.
🔹 Top-Down Volume Profile
The Top-Down Volume Profile is a classical fixed-range volume profile and highlights the amount of traded volume within equidistant price areas. The amount of areas is determined by the "Rows" setting (Note that the volume profile can use up to 250 rows).
The value area (VA) highlights the area where the specified percentage of the total volume is traded, that is the area with the most recorded trading activity relative to a selected percentage.
Finally, the point of control (POC) highlights the price level with the most trading activity.
🔹 Divergences
Users can highlight divergences made by oscillators on their charts. The toolkit includes three indicators such as RSI, MFI, and WaveTrend with MTF support, users can also select external oscillators but these will not support MTF divergence detection.
Once the Top-Down Volume Profile is set historical divergences will be affected by its value area (VA), with bearish divergences located above the upper VA or bullish divergences located under the lower VA being highlighted with a sauce can, a signature display stel of Frankie Candles.
Users can also filter out divergences based on the point of control (POC) using the "Filter According To POC" setting, with bearish divergences located below the POC or bullish divergences located above it being filtered out.
Do note that divergences are detected N bars after their occurrence, where N is the divergence lookback setting
🔹 Golden Pockets
The script includes an MTF Golden Pockets feature displaying Fibonacci retracements on the user chart, these can be used to identify optimal trade entries (OTE) or serve as support/resistance levels.
Golden Pockets are based on maximum/minimum prices in a window determined by the "Golden Pocket Lookback" setting, using longer-term lookbacks will return longer-term divergences, this will also be the case when using HTF golden pockets.
🔶 SETTINGS
🔹 Candle Coloring
Candle Coloring: Determine the candle coloring method used by the indicator. "Simple" will color the candles based on the candle body, while "Golden Pocket" will color candles using a gradient based on the golden pocket rolling maximum/minimum.
🔹 Top-Down Volume Profile
Top-Down Volume Profile: Enable Top-Down Volume Profile.
Rows: Amount of rows used by the Top-Down Volume Profile.
Width (%): Controls the histogram bar width as a percentage of the calculation window specified by the user set anchors.
Value Area (%): Area where the specified percentage of total volume is traded.
Extend To The Right: Extends the calculation window from the first anchor to the most recent bar.
🔹 MTF Divergences
Oscillator: Determines the oscillator and its length used for divergence detection. Options include "RSI", "MFI", "WaveTrend" and "External".
Divergence Lookback: Lookback period used to track oscillator tops/bottoms. Divergence will be detected n bars after an oscillator top/bottom, where n is the specified lookback period.
External Oscillator: External oscillator used for divergence detection if "External" is selected in the "Oscillator" dropdown menu, incompatible with Divergence Timeframe setting.
Divergence Timeframe: Timeframe used to calculate the selected oscillator and detect divergences. Incompatible with external oscillators.
Divergence From: Determines if price tops/bottoms evaluated to detect divergences are based on wicks (high/low price) or candle body (closing/opening price).
Filter According To POC: Filter displayed divergences based on the Top-Down Volume Profile POC.
Show Hidden: Display hidden divergences.
Show Sauce: Display canned source emoji on specific divergences.
🔹 Golden Pockets
Golden Pocket Lookback: Period used to calculate golden pockets, options include "Short-Term", "Medium-Term", and "Long-Term".
Extend: Extend Golden Pockets lines from the most recent bar by the specified amount of bars.
Golden Pocket Timeframe: Timeframe used to calculate the Golden Pockets.
Retracements: Display specific retracements, users can also control the ratio from the provided numerical setting.
Show Coordinate Line: Display a line connecting the top/bottom used to calculate the Golden Pockets.
Invert: Invert top/bottom for the Golden Pockets calculation.
Custom Time Frame (CTF)This indicator allows users to create their own arbitrary time frames for chart analysis. It features a moving average, providing an additional layer of analysis, and offers flexibility through various open settings.
In terms of user settings and usage, the indicator provides several options. Users can choose their interval style, opting for either tick-based or time-based intervals. This flexibility allows for a more granular approach to data analysis, catering to different trading strategies and preferences. The number of ticks or the amount of time for each candle can be adjusted, enabling traders to set the granularity of the data to their liking. Color settings are also customizable, with options for setting colors for bullish and bearish indicators, adding a visual dimension to the analysis.
The average line parameters are an important aspect of this indicator. Users can adjust the length, ripple, type, color, and line width of the average line. The ripple setting, in particular, impacts the smoothness of the filter. With type II setting, the smoothing is increased, making it suitable for traders who prefer a more smoothed out moving average. Conversely, the type I setting decreases the smoothing, which might be preferred by those who want a more responsive indicator.
The use of the Chebyshev filter is a significant feature of this indicator. This filter is chosen for its high-performance smoothing capabilities with minimal data requirements. This ensures that the moving average appears quickly and accurately, which is crucial in real-time chart analysis. An important point to note is that when the moving average is enabled, it decreases the maximum number of candles that can be displayed on the chart. However, this is offset by the enhanced analytical precision provided by the moving average.
In summary, this indicator is especially beneficial for traders without access to premium accounts. It offers the capability to create low or custom time frame charts. The flexibility in settings, coupled with the inclusion of a Chebyshev filter for the moving average, makes it a versatile and valuable tool for detailed market analysis. It caters to a wide range of trading styles and strategies, making it a useful addition to any trader's toolkit.
