BRT Cluster VolumeTitle and Purpose
BRT Cluster Volume is a powerful market analysis tool designed to identify key support and resistance levels, cluster volumes, and breakout signals. This script is highly beneficial for traders who aim to gain deeper insights into market trends and pinpoint zones of interest for buyers and sellers.
Key Features
1. Support and Resistance Levels:
- The script automatically detects chart extremums by analyzing a specified number of bars on the left and right to form levels. This approach effectively identifies local highs and lows.
- The uniqueness of this implementation lies in its dynamic data processing. For each extremum, the "channel width" is calculated, allowing insignificant levels to be filtered out based on a user-defined minimum width. This method eliminates noise and ensures focus on critical levels.
- Extremum lines can be extended to the right (when enabled), allowing traders to track current price movements relative to historical levels.
2. Cluster Volume:
- The cluster analysis is based on lower timeframe data, providing precise identification of key zones of market participant activity. The script dynamically requests close prices and volumes from lower timeframes, calculates the average volume, and identifies levels where volumes exceed a defined threshold.
- The visualization of cluster volumes is unique: volumes exceeding the threshold are displayed as candles with customizable colors and markers. These indicators help traders identify zones of significant interest.
- Cluster volume is only displayed when it interacts with support or resistance levels, ensuring that the visualization remains precise and relevant for market analysis.
3. Breakout Signals:
- The script evaluates "breakout strength" for each breakout of support or resistance levels by comparing the current price with the level. This helps filter false breakouts and focus on significant price movements.
- Traders can select the source for breakout signals (close price or high/low), offering flexibility for various trading styles and strategies.
- By incorporating the concept of "maximum breakout strength," the script highlights only meaningful breakouts, ignoring minor fluctuations.
4. Integration of Trading Sessions:
- Extremum levels for major trading sessions (Asia, Europe, USA) are identified and labeled on the chart. This allows traders to see when significant price levels were formed during the day.
- The script uses timestamps to automatically detect session times, ensuring accuracy and minimizing manual adjustments.
5. Dynamic Data Updates:
- The script dynamically updates support and resistance levels in real time as new data becomes available. This feature is crucial for traders working in fast-moving markets.
- Outdated information (such as obsolete levels) is automatically removed to keep the chart clean and focused on relevant data.
6. Visualization of Activity Zones:
- Trend direction is visualized using color-coded candles based on cluster volumes. For instance, candles with volumes exceeding the average are highlighted with specific colors, helping traders quickly identify areas of heightened activity.
- The unique aspect of this visualization is that cluster volumes appear only in zones where they interact with breakout levels, providing an intuitive and streamlined presentation of critical data.
Usage
- Support and Resistance: Adjust the "Left Bars" and "Right Bars" settings to determine extremums. Use the "Channel Min Width" setting to filter out insignificant levels.
- Cluster Volume: Customize the analysis period and volume threshold to identify high-activity zones. Enable breakout clusters to see how volumes interact with breakouts.
- Session Extremums: Highlight significant levels for Asia, Europe, and US trading sessions to gain insights into market dynamics across different time zones.
- Breakout Signals: Configure the breakout strength and source (close or high/low) for precise signal detection.
Parameter Details
1. Support & Resistance:
- `Left Bars` / `Right Bars`: Number of bars to consider for determining extremums.
- `# of Lines`: Maximum number of support/resistance lines to display.
- `Channel Min Width`: Minimum channel width to filter insignificant levels.
2. Breakout:
- `Show Breakouts`: Toggle breakout signal display.
- `Max breakout strength`: Maximum strength for valid breakouts.
- `Breakout source`: Data source for breakouts (close or high/low).
3. Cluster Volume:
- `Lookback`: Number of bars to analyze for cluster volumes.
- `Threshold`: Volume threshold (percentage above the average).
- `Cluster Volume Timeframe`: Timeframe for cluster volume analysis.
- `Breakout Cluster`: Display cluster volumes only for breakout-related zones.
4. Visual Settings:
- `Extend extremum lines to the right`: Extend support/resistance lines to the right.
- `Show ASIA/EU/US Session Extremums`: Display extremums for trading sessions.
Features and Benefits
- The script provides flexible parameter customization, allowing it to adapt to different trading styles and timeframes.
- The visualization is designed to be clean and intuitive, ensuring users can easily interpret the data.
- Suitable for all timeframes, making it ideal for both intraday and long-term market analysis.
Limitations
- The script is not suitable for analysis on non-standard chart types (e.g., Heikin Ashi, Renko, Kagi).
- To ensure accurate performance, realistic data for commission and slippage should be used.
Warnings
- The script relies on historical data for calculations, which may cause discrepancies in real-time conditions.
- Users should fully understand the functionality of cluster analysis and breakout signals before using the script in live trading.
This script combines advanced data processing logic, dynamic level adjustments, and unique visualization approaches, making it an indispensable tool for market analysis and trading decision-making.
Komut dosyalarını "breakout" için ara
E9 Shark-32 PatternUnderstanding the Shark-32 Pattern and its Trading Applications
The Shark-32 Pattern is a bearish technical trading formation used to predict market reversals or trend continuations. It highlights a downward move followed by a corrective rally, signaling a potential resumption of the downtrend. Here’s a breakdown of how it works:
What is the Shark-32 Pattern?
The Shark-32 pattern is a five-wave structure typically observed in bearish markets:
Wave 0 to X: A significant price decline starts the pattern.
Wave X to A: A correction pushes the price slightly upward.
Wave A to B: The price drops again but doesn’t reach the initial low.
Wave B to C: A final sharp decline concludes the pattern.
Once Wave C is formed, it suggests that the market will continue to move downward, presenting a potential selling or shorting opportunity.
Using the Pattern in Trading
This pattern is valuable for traders seeking high-probability bearish setups. The goal is to capitalize on the continuation of a downtrend following the corrective rally (X to A). Identifying the Shark-32 pattern helps anticipate the next wave of selling pressure.
Trading Setup
Identify a Shark-32 pattern.
If the price closes above the pattern's high, buy at the open the next day.
If the price closes below the pattern's low, short at the open the next day.
Sell/cover when the price moves 7% in the direction of the breakout.
Close the trade for a loss if the price moves 7% in the opposite direction.
For example, in a bull market after an upward breakout from a Shark-32, the net gain was $69.55. The method won 56% of the time with 5,218 winning trades and an average gain of $714.07. Conversely, 44% of trades were losers, with an average loss of $747.33. The average holding period was 26 calendar days.
The gains and losses were closely aligned with the 7% threshold set for this test.
Key Target Levels
To enhance the strategy, use dotted projection lines as target levels:
Upper Target: Drawn above the high of the corrective rally (Wave A). If the price breaks above this line, it may signal further upward movement, indicating a potentially weaker downtrend.
Lower Target: Positioned below the low of Wave C, providing a target for bearish trades.
These lines help determine future price targets and assist in setting take-profit or stop-loss levels.
Trading the Breakout
Look for breakouts once the Shark-32 pattern is identified:
Upward Breakout: If the price closes above the green line (high from two bars ago), it indicates a potential reversal to the upside.
Downward Breakout: If the price breaks below the red line (low from two bars ago), it confirms the bearish continuation.
Breakouts allow traders to adjust their positions based on market shifts.
Trading Tips
Continuation: The Shark-32 pattern acts as a continuation 60% of the time, confirming the ongoing trend.
Breakout Confirmation: Wait for the price to close above or below the pattern’s key levels before entering a trade.
Trade with the Trend: Since the Shark-32 is a continuation pattern, expect the breakout to align with the inbound price trend.
Symmetry: Patterns with symmetry often perform better. For more insights, refer to detailed trading literature.
Half-Staff: The Shark-32 can form midway in a trend, similar to flags and pennants.
Shark-32: Trading Performance
Based on an analysis of 23,369 trades, the following performance metrics were observed:
Bull Market with Upward Breakout: The average net profit was $69.55. This method won 56% of the time, with winning trades averaging $714.07. Losing trades, which constituted 44% of the total, had an average loss of $747.33. The average holding period was 26 calendar days.
Bull Market with Downward Breakout: The average net loss was $(76.36). This method won 43% of the time, with winning trades averaging $753.56. Losing trades, which constituted 57% of the total, had an average loss of $706.32. The average holding period was 23 calendar days.
Bear Market with Upward Breakout: The average net loss was $(89.13). This method won 46% of the time, with winning trades averaging $710.77. Losing trades, which constituted 54% of the total, had an average loss of $756.97. The average holding period was 16 calendar days.
Bear Market with Downward Breakout: The average net profit was $65.17. This method won 52% of the time, with winning trades averaging $781.62. Losing trades, which constituted 48% of the total, had an average loss of $722.41. The average holding period was 13 calendar days.
Opening Range and Market BoundariesOpening Range and Market Boundaries
This versatile and insightful indicator combines two powerful concepts frequently used by professional traders: Opening Range Analysis and Market Boundaries derived from previous high/low levels. It is specifically designed to support intraday trading strategies and helps you identify key price zones for entries, exits, and breakout confirmations.
🔍 Features & Utility
1. Opening Range Box
What it does:
Highlights the high and low of the first candle after market open (9:15 AM IST) with a shaded box. This box spans the full trading session, from 9:15 AM to 3:30 PM, representing the key price range where the initial balance is formed.
Timeframe Compatibility:
The Opening Range box is optimized for 1-minute to 1-hour charts. It is most effective on lower timeframes (1m, 5m, 15m, 30m) where intraday price movements and breakout patterns can be clearly observed.
Usage Tips:
Breakouts above or below the Opening Range box can signal potential directional bias for the rest of the trading day.
Price consolidating within the range may indicate a choppy or range-bound session.
Works well with volume and momentum indicators for confirmation.
2. Market Boundaries
What it does:
Plots horizontal lines at:
Previous Day High/Low
Previous Week High/Low
Previous Month High/Low
Why it matters:
These levels act as natural support and resistance zones, and are commonly watched by institutional traders, making them crucial for:
Spotting reversals or breakouts
Planning stop-loss and target zones
Avoiding trades around high-rejection areas
Customization Options:
Toggle ON/OFF for Daily, Weekly, and Monthly levels.
Independent colors and line thickness for each level, enabling you to distinguish between different timeframes easily.
🛠️ How to Use Effectively
Use during market open:
Switch to a 5-minute or 15-minute chart during the first few candles of the session. Observe the Opening Range box formation and plan trades based on breakout direction.
Confluence Trading:
Look for price action near previous session highs/lows in confluence with the Opening Range box edges. These intersections often become high-probability zones for breakouts or reversals.
Session Preparation:
Before the market opens, analyze where the price is relative to past high/low boundaries. If it's near a weekly/monthly level, be cautious — those areas can cause whipsaws or false breakouts.
Avoid low-volume breakouts:
Use this indicator in conjunction with volume tools or price action confirmation to validate the strength of a move outside the Opening Range or Market Boundaries.
📌 Summary
This indicator is designed for intraday traders, scalpers, and swing traders who want a reliable structure to guide their decisions. It visually marks the opening balance of the market and essential higher timeframe boundaries, helping you trade with discipline and precision.
PulsarStruct Minor PremiumPulsarStruct Minor Premium
Introduction:
PulsarStruct Minor Premium is a powerful market analysis indicator designed for traders focused on lower timeframes and minor market structures. This tool is specifically built to track micro-structures and identify breakouts of key accumulation and distribution zones, helping traders make quick, informed decisions.
Unlike traditional multi-timeframe (HTF or MTF) indicators, PulsarStruct Minor Premium concentrates on local movements within minor structures, giving you an edge in tracking the immediate dynamics of the market.
This indicator is part of a package that includes Orion, Phoenix, and OptiStruct™ Premium from AlbaTherium, making it an ideal complement to these tools. By combining PulsarStruct Minor Premium with the multi-timeframe insights of these other indicators, you can optimize both local and broader market analysis.
Key Features:
Minor structure analysis: Track small market movements and their impacts on critical zones.
Breakout detection: Identify key breakouts from accumulation and distribution levels to anticipate future market movements.
Optimized entry signals: Focus on micro-breakouts and reversals for precise entry opportunities.
Analysis without volume dependency: The indicator operates based purely on price action, independent of volume.
How It Works:
PulsarStruct Minor Premium detects accumulation and distribution zones within minor market structures. By identifying these critical areas, the indicator pinpoints potential breakout levels, signaling traders when a significant shift in the market structure is occurring.
The tool’s logic is built to focus on micro-breakouts, which are often the first signals of trend continuation or reversal. It uses an algorithm that tracks price action across local structures and generates signals based on price movements relative to these key levels.
Practical Examples:
Accumulation and Distribution within a Range:
Imagine a consolidation period within a minor structure where accumulation takes place around a key support level. PulsarStruct Minor Premium marks this zone of interest. As the price starts to break out from the accumulation zone, the indicator signals a potential long entry in alignment with the trend.
Accumulation example: A 1 minute chart shows accumulation around a minor support level, followed by a bullish breakout. The indicator confirms the breakout, signaling a long entry opportunity.
Distribution example: Similarly, in a bearish market, a distribution phase around a key resistance level is followed by a breakout to the downside, confirming a short entry opportunity.
Example:
Accumulation and Distribution Example
Pro-Trend Entry Setup:
When trading with the trend, PulsarStruct Minor Premium helps identify high-probability entry points by detecting breakouts from accumulation or distribution levels. The indicator aligns these breakouts with the prevailing trend, offering precise entry signals.
Pro-trend Long Entry example: In an uptrend, the price pulls back into an accumulation zone, followed by a breakout above a minor high. The indicator detects the breakout, signaling a long entry aligned with the trend.
Pro-trend Short Entry example: In a downtrend, a small distribution phase forms at resistance, and a breakout below a minor support is detected, offering a short entry in line with the trend.
Example:
Pro-Trend Example
Minor Structure Breakouts:
PulsarStruct Minor Premium detects breakouts of minor structures, allowing traders to enter trades based on local setups. The indicator tracks price movements relative to these critical levels and provides signals for both long and short trades.
Breakout example: A local support level breaks under selling pressure, signaling a bearish reversal. The indicator alerts traders before the broader market reacts.
Example:
Breakout Example
Conclusion:
PulsarStruct Minor Premium is an essential tool for traders who focus on lower timeframes and minor structures. By concentrating on accumulation/distribution phases and key breakout levels, it allows for faster, more precise decision-making. For users of Orion, Phoenix, or OptiStruct™ Premium , this indicator provides a perfect complement, adding a layer of structured analysis that integrates seamlessly with multi-timeframe strategies.
Whether you’re looking for rapid entries or confirmations in micro-breakouts, PulsarStruct Minor Premium will help you stay in sync with market movements. Take advantage of this innovative tool and optimize your trading performance.
Heiken Ashi Algo v6The Heiken Ashi Algo Oscillator v6, introduces a refined approach to technical analysis applicable across various markets. Central to this algorithm is the integration of the Relative Strength Index #RSI, a staple indicator renowned for its effectiveness in measuring momentum.
The RSI - Tried and True:
By incorporating the #RSI, traders gain valuable insights into the speed and strength of price movements, aiding in the identification of potential #trend #reversals and #continuations.
Why Heiken Ashi Candles:
Additionally, the utilization of #Heiken Ashi candles within this algorithm offers a smoother representation of price action, reducing noise and enhancing clarity in trend analysis. This feature is particularly advantageous in volatile markets, where traditional candlestick patterns may produce false signals. By employing Heiken #Ashi candles, traders can more accurately identify underlying trends and make informed decisions based on reliable price data.
Combining RSI and Heiken Ashi:
The synergy between the RSI and Heiken Ashi candles in the Heiken Ashi Algo Oscillator v6 provides traders with a comprehensive perspective on both momentum and trend direction. This combination allows for a nuanced analysis of market dynamics, enabling traders to navigate various market conditions with greater confidence.
Heiken Ashi Candle Sizes:
The size of the Heiken Ashi candles serves as a visual indicator of the distance the RSI has moved between closing prices, offering additional insights into momentum shifts.
Not your average Heiken Ashi Candles:
Ive taken the time to do some serious custom coding for these particular Heiken Ashi Candles.
They do NOT color as the normal ones do. There is a setting in the inputs tab of the indicator that allows you to color them according to my secret code where its looking for Breaks of Structure on lower timeframes based on Heiken Ashi Candle calculations.
Turning on this feature gives you a more promising array of candle colors telling you about false or positive breakouts and trends.
Why choose this tool:
CoffeeShopCrypto's Heiken Ashi Algo Oscillator v6 offers a balanced and effective tool for traders across different markets. By leveraging the power of the RSI and Heiken Ashi candles, traders can enhance their decision-making process, identify trading opportunities with greater precision, and ultimately improve their overall trading performance.
------------------------------------------HOW TO USE IT------------------------------------------
Inflow / Outflow (accumulation and distribution) Ribbon
In trading we know liquidity means volume and volume is orders. This ribbon shows you when orders are entering, exiting, filling or flat in the market.
The Liquidity Ribbon is a visual representation of whats happening with accumulation and distribution in the market.
It acts as a dynamic area of support and resistance for the RSI (momentum).
Once the RSI breaks above or below the full area of the ribbon, you have an overturned short term market.
Breaking this area isn't easy because of the one sided thick line known as the PoC line or Point of Control Line.
This line changes between a rising and falling color to tell you what side of the market has the most resistance or support.
Custom HA candles
The common way for HA candles to be colors is green for bullish and red for bearish.
These candles color differently according to market dynamics vs how the current candle closes.
This is helpful to keep you from taking longs or shorts when the momentum just doesn't have the move.
How it all works together: Taking entries and failed breakouts.
In the image below (left to right) you can see the following take place:
Short Entry:
HA Candles push down through the ribbon breaking below its low side (Support Ribbon Broken)
Following this the RSI RANGE is broken to the down side.
This is a good setup for a short breakout
Retrace to false breakout:
After this price retraces and so does momentum.
HA Candles attempt to but fail to break through the top of the ribbon and push back down . This is a false breakout.
Bullish Divergence to Long Entry:
The Heiken Ashi Algo forms a bullish divergence and HA candles push back up into the ribbon. Without a change in candle structure the RSI breaks the top of the ribbon where the control line sits as well as breaking through the top of the RANGE area and
This is a promising setup for a long trade.
Rally Base Rally: (into secondary long trade)
As price is rising, it retraces until HA candles are within the RANGE. No candle closes or has a low below the RSI midline.
HA Candles are forming a consolidation. After consolidation the RSI breaks out the top of the ribbon and the top of the RANGE allowing a secondary long entry.
-----------------------------------------------------------------------------------------
Im not gonna lie. Ive written a lot of tutorials but this one was probably the most exciting to describe.
If you have any questions please do ask below.
The Trend SetterThe "Trend Setter" script is a technical indicator that combines several other indicators to identify trends and potential entry points in the market. It is designed to work with various financial markets, including stocks, forex, and futures, and can be used on any timeframe.
The script uses the TTM Squeeze indicator, Bollinger Bands, Keltner Channels, CCI, and Parabolic SAR to identify trends and potential entry points. The TTM Squeeze is a custom indicator that identifies periods of low volatility, while the Bollinger Bands and Keltner Channels are used to identify potential breakouts. The CCI is used to identify potential overbought and oversold conditions, and the Parabolic SAR is used to identify potential trend reversals.
The TTM Squeeze indicator is a combination of Bollinger Bands and Keltner Channels. The indicator creates a "squeeze" when the Bollinger Bands move inside the Keltner Channels. This indicates a period of low volatility and is often followed by a period of increased volatility or a breakout. The script uses this information to identify potential trading opportunities.
The Bollinger Bands are a popular indicator used to identify potential breakouts. They consist of a moving average (the basis) and two standard deviation lines (the upper and lower bands). When the price moves outside the bands, it is considered a potential breakout.
Keltner Channels are similar to Bollinger Bands but are based on the Average True Range (ATR) instead of standard deviation. They consist of an exponential moving average (the basis) and two lines that are offset from the basis by a multiple of the ATR. When the price moves outside the channels, it is considered a potential breakout.
The CCI (Commodity Channel Index) is used to identify potential overbought and oversold conditions. It measures the difference between the typical price (the average of the high, low, and close) and a moving average of the typical price. The result is then divided by a multiple of the mean deviation. When the CCI moves above a certain threshold, it is considered overbought, and when it moves below a certain threshold, it is considered oversold.
The Parabolic SAR (Stop and Reverse) is used to identify potential trend reversals. It consists of a series of dots that appear above or below the price, depending on the direction of the trend. When the price crosses the dots, it is considered a potential reversal.
The script plots arrow shapes on the chart to indicate long and short entry points, and can also generate alerts to notify the user of potential trading opportunities. The script uses the various indicators to determine the potential entry points based on the current market conditions.
Overall, the script is designed to help traders identify potential trading opportunities and make more informed trading decisions. However, as with any trading strategy or indicator, it is important to thoroughly test and validate the approach before using it in a live trading environment. Traders should also consider their risk tolerance and other factors before making any trades based on the indicator.
In assembling the different indicators in this script, there is a specific rationale for each one's inclusion, and how they work together to create a comprehensive trading strategy.
The TTM Squeeze indicator is used as a primary filter to identify periods of low volatility, as these are often followed by high volatility and potential breakouts. Bollinger Bands and Keltner Channels are then used to identify potential breakouts, with the former representing the upper and lower boundaries of price action and the latter representing the average price range. The inclusion of both indicators helps to confirm potential breakouts and provide a more comprehensive view of price action.
The CCI indicator is used as a momentum indicator to confirm potential trend reversals, by identifying overbought and oversold conditions. This is important because while breakouts can be identified using the TTM Squeeze and Bollinger Bands/Keltner Channels, they do not necessarily indicate the direction of the breakout. The CCI helps to confirm whether the price is overbought or oversold, and can indicate potential reversals or continuations of the trend.
Finally, the Parabolic SAR is used as a trend-following indicator to identify potential trend reversals, by placing dots above or below the price depending on the direction of the trend. This helps to identify potential reversal points in the trend and can be used in conjunction with other indicators to confirm potential entry and exit points.
In summary, the combination of these indicators is designed to provide a comprehensive view of the market, identifying periods of low volatility, potential breakouts, momentum changes, and trend reversals. By providing clear entry and exit points, the script aims to help traders make more informed trading decisions and improve their overall trading performance.
Scalp Signals [Premium]This Indicator combines RSI and Movinaverage, to help evaluate the optimal trend.
The RSI signal is displayed with different color zones to reflect the value on the chart. This makes field evaluation more efficient.
This indicator Includes moving averages EMA / SMA and Trendline.
EMA+SMA with a default value of 34/89/200/200 ... User can change value and color as required... As ema and SMA both have the same value that's why only three lines are visible, changing the value will reflect other Moving averages.
Trendline work on breakouts with pivot point-based levels, we introduce an indicator returning pivot point-based trendlines with highlighted breakouts. Users can control the steepness of the trendlines as well as their slope calculation method. The indicator also includes integrated alerts for trendlines breakouts.
Settings:
* Display modes EMA, SMA, TRENDLINE
* Type + Length EMA
* Type + Length SMA
* ADVANCED SETTINGS:
* Length: Pivot points period
* Slope: Slope steepness, values greater than 1 return a steeper slope. Using a slope of 0 would be equivalent to obtaining levels.
* Slope Calculation Method: Determines how this lope is calculated.
* Show Only Confirmed Breakouts: Only shows confirmed breakouts when enabled.
Usage
Any valid trendlines methodology can be used with the indicator, users can identify breakouts in order to infer future price movements.
Break labels highlight breakouts and are delayed by length bars (with the exception of breakouts with the dashed trendlines which are not delayed). By default the indicator shows any breakouts, toggling on "Show Only Confirmed Breakouts" will allow showing only significant ones. Note that this will not affect breakouts with the dashed trendlines.
The calculation method of the slope greatly affects the trendline's behaviors. By default, an average true range is used, returning a consistent slope amongst trendlines. Other methods might return trendlines with significantly different slopes.
Liquidity and S&R Zones╔══════════════════════════════════════════════════════════════════════╗
║ Description ║
╚══════════════════════════════════════════════════════════════════════╝
This indicator identifies liquidity zones and support/resistance (S&R) levels
using pivot points and volume analysis. Liquidity zones highlight areas of high
trading activity, while S&R levels mark key price levels where price may reverse
or break. Breakouts are confirmed with a volume oscillator and visualized with
shapes. Alerts are provided for significant S&R breakouts.
╔══════════════════════════════════════════════════════════════════════╗
║ User Guide ║
╚══════════════════════════════════════════════════════════════════════╝
#### Overview
This indicator detects liquidity zones and support/resistance (S&R) levels
using pivot points and volume analysis. Liquidity zones highlight areas of
high trading activity, often targeted by institutional traders. S&R levels
indicate key price levels where price may reverse or break, with breakouts
confirmed by a volume oscillator. The indicator is designed for traders
seeking to trade breakouts or reversals at critical levels.
#### Features
- **Liquidity Zones**: Identifies pivot highs/lows with high-volume confirmation.
- **Support/Resistance Levels**: Plots dynamic S&R lines based on pivot points.
- **Breakout Signals**: Displays shapes for price crossing S&R levels with volume confirmation.
- **Volume Oscillator**: Uses short/long EMA difference to confirm breakouts.
- **Alerts**: Notifies users of support/resistance breakouts.
#### Input Parameters
- **Liquidity Settings**:
- *Liquidity Lookback Period*: Bars for average volume (default: 50).
- *Liquidity Volume Threshold Multiplier*: Volume multiplier for liquidity zones (default: 1.5).
- *Liquidity Pivot Lookback*: Bars for pivot detection (default: 5).
- **S&R Settings**:
- *Show Breaks*: Toggle breakout shapes (default: true).
- *Left/Right Bars*: Bars for S&R pivot detection (default: 15).
- *S&R Volume Threshold*: Minimum oscillator value for breakouts (default: 20).
- **Style Settings**: Predefined colors for liquidity and S&R visualization.
#### Usage
1. Apply the indicator to a chart (e.g., 1H, 4H, or D timeframes recommended).
2. Adjust input parameters to suit the instrument and timeframe:
- Increase `liqLookback` for smoother volume averages on lower timeframes.
- Adjust `leftBars` and `rightBars` for more/less sensitive S&R levels.
- Set `srVolumeThresh` based on typical oscillator values (plot `osc` to calibrate).
3. Monitor liquidity zones (red/green/yellow crosses) and S&R lines (red/green).
4. Watch for breakout signals (shapes) when price crosses S&R levels with volume confirmation.
5. Set up alerts for "Support Broken" or "Resistance Broken" to receive notifications.
#### Recommended Settings
- **Timeframes**: 1H, 4H, or D for reliable signals.
- **Instruments**: Assets with good volume (e.g., crypto, forex, indices).
- **Liquidity**: Increase `liqVolumeThreshold` (e.g., 2.0) for stricter zones.
- **S&R**: Use `leftBars = rightBars = 10` for faster markets.
#### Cautions
- Ensure sufficient chart history for pivot and volume calculations.
- High `liqLookback` or `leftBars` may delay signals on lower timeframes.
- Volume oscillator requires accurate volume data; test on reliable instruments.
- Backtest breakout signals, as false breakouts can occur in choppy markets.
#### Customization Ideas
- Add Fibonacci levels to complement S&R zones.
- Integrate with trend indicators (e.g., EMA) to filter breakouts.
- Visualize volume oscillator as a histogram for calibration.
- Extend liquidity zones with boxes to highlight price ranges.
#### Notes
- Combine with other analysis for a complete trading system.
- Test thoroughly in a demo account before live trading.
- Contact the author for support or feature requests.
Happy trading, and may your trades align with the market’s key levels! 🚀
Pro Volume By TradeINskiOverview
The Pro Volume By TradeINski indicator is a comprehensive trading tool designed to enhance volume analysis, position sizing, and trend identification. It integrates multiple trading metrics into a single dashboard, helping traders make informed decisions based on volume dynamics, momentum bursts, trend intensity, and risk management.
Key Features
1. Position Size Calculator
Helps traders determine optimal position sizes based on risk parameters:
Capital & Risk Amount: Set account size and risk per trade.
Lot Size Adjustments: Automatically calculates nearest lot size for futures trading.
Stop Loss-Based Quantity: Computes position size based on distance from stop-loss levels (LOD or mid-price).
Standard Stop Losses: Predefined stop-loss levels (1%, 1.25%, 1.5%, 1.75%) for quick risk assessment.
Reverse Pyramiding: Enhances position sizing with adjustable risk multipliers (25%, 50%).
Closing Range & Range Expansion: Measures price strength and volatility expansion.
2. Volume Analysis & Bar Coloring
Default Bar Colors: Green for bullish bars, red for bearish bars.
Dry Volume Detection: Highlights low-volume bars (below 20-period SMA) in gray.
3. Momentum Burst (MB)
Identifies high-momentum moves:
Bullish Momentum: Volume surge + price rise ≥ user-defined threshold (default: 4%).
Bearish Momentum: Volume surge + price drop ≥ user-defined threshold (default: -4%).
4. Trend Intensity (TI)
Measures trend strength using moving averages:
Fast MA (7) vs. Slow MA (65): Highlights strong bullish/bearish trends when deviation exceeds sensitivity threshold (default: 5%).
5. Anticipation (ANTS)
Detects consolidation before potential breakouts:
Price Change Range: Filters minor price fluctuations (default: -0.4% to +0.4%).
Trend Confirmation: Requires TI_65 sensitivity (default: 5%) for validation.
6. Episodic Pivot (EP)
Flags unusually high-volume bars (default: 9M+ volume) as potential trend reversal or continuation signals.
7. Data Metrics Table
Displays key trading metrics:
Trend Intensity (TI): 21-period SMA comparison.
Industry & Sector: Stock classification.
Market Cap & Free Float: Fundamental liquidity metrics.
Volume × Price (VP): Monetary value of traded volume.
Relative Volume (RV): Today’s volume vs. previous day.
Persistent Intensity (PI): Count of consecutive up closes (default: 21-period).
Use Cases for Traders
✅ Day Traders: Identify momentum bursts and high-volume breakouts.
✅ Swing Traders: Use trend intensity and episodic pivots to confirm trends.
✅ Position Traders: Optimize risk with dynamic position sizing.
✅ Risk Managers: Set stop-loss levels and reverse pyramiding for controlled exposure.
Settings & Customization Overview
The Pro Volume By TradeINski indicator is a comprehensive trading tool designed to enhance volume analysis, position sizing, and trend identification. It integrates multiple trading metrics into a single dashboard, helping traders make informed decisions based on volume dynamics, momentum bursts, trend intensity, and risk management.
Key Features
1. Position Size Calculator
Helps traders determine optimal position sizes based on risk parameters:
Capital & Risk Amount: Set account size and risk per trade.
Lot Size Adjustments: Automatically calculates nearest lot size for futures trading.
Stop Loss-Based Quantity: Computes position size based on distance from stop-loss levels (LOD or mid-price).
Standard Stop Losses: Predefined stop-loss levels (1%, 1.25%, 1.5%, 1.75%) for quick risk assessment.
Reverse Pyramiding: Enhances position sizing with adjustable risk multipliers (25%, 50%).
Closing Range & Range Expansion: Measures price strength and volatility expansion.
2. Volume Analysis & Bar Coloring
Default Bar Colors: Green for bullish bars, red for bearish bars.
Dry Volume Detection: Highlights low-volume bars (below 20-period SMA) in gray.
3. Momentum Burst (MB)
Identifies high-momentum moves:
Bullish Momentum: Volume surge + price rise ≥ user-defined threshold (default: 4%).
Bearish Momentum: Volume surge + price drop ≥ user-defined threshold (default: -4%).
4. Trend Intensity (TI)
Measures trend strength using moving averages:
Fast MA (7) vs. Slow MA (65): Highlights strong bullish/bearish trends when deviation exceeds sensitivity threshold (default: 5%).
5. Anticipation (ANTS)
Detects consolidation before potential breakouts:
Price Change Range: Filters minor price fluctuations (default: -0.4% to +0.4%).
Trend Confirmation: Requires TI_65 sensitivity (default: 5%) for validation.
6. Episodic Pivot (EP)
Flags unusually high-volume bars (default: 9M+ volume) as potential trend reversal or continuation signals.
7. Data Metrics Table
Displays key trading metrics:
Trend Intensity (TI): 21-period SMA comparison.
Industry & Sector: Stock classification.
Market Cap & Free Float: Fundamental liquidity metrics.
Volume × Price (VP): Monetary value of traded volume.
Relative Volume (RV): Today’s volume vs. previous day.
Persistent Intensity (PI): Count of consecutive up closes (default: 21-period).
Use Cases for Traders
✅ Day Traders: Identify momentum bursts and high-volume breakouts.
✅ Swing Traders: Use trend intensity and episodic pivots to confirm trends.
✅ Position Traders: Optimize risk with dynamic position sizing.
✅ Risk Managers: Set stop-loss levels and reverse pyramiding for controlled exposure.
Settings & Customization
Trade Direction: Long, Short, or Both (auto-detects based on % change).
Table Positioning: Adjust location (Top/Middle/Bottom, Left/Center/Right).
Color Customization: Modify bar colors, table lines, and background.
Trade Direction: Long, Short, or Both (auto-detects based on % change).
Table Positioning: Adjust location (Top/Middle/Bottom, Left/Center/Right).
Color Customization: Modify bar colors, table lines, and background.
Original Gann Swing Chart Rules [AlgoFuego]🔵 Original Gann Swing Chart Rules
An advanced indicator built on W.D. Gann’s original rules, enhanced with innovative mechanical trend-following methods.
🔹 Description
This indicator functions by balancing short-term adaptability with long-term trend analysis.
The indicator incorporates Gann’s principles alongside mechanical trend-following techniques to offer a structured method for analyzing trends and detecting potential market reversals.
Golden Rule: Non-trend bars are excluded from analysis, and each new bar is compared with the previous trend bar, it highlights significant swing points with greater clarity.
🔸 The core concept behind the golden rule on which this indicator is built.
The person watching the tide coming, wanting to pinpoint the exact spot that signals the high tide, places a stick in the sand at the points where the incoming waves reach until the stick reaches a position where the waves no longer rise, and eventually recedes enough to show that the tide has shifted.
This method is effective for monitoring and identifying tides and floods in the stock market.
🔸Rule 1: The trend bar is everything.
→It is a bar that forms a new high, low, or both.
🔸Rule 2: The professional traders track new highs and lows.
🔸Rule 3: The hidden bar is nothing.
→It is a bar that does not form a new high, low, or both.
🔸Rule 4: The sea has a wavy nature, and the market as well.
🔸Rule 5: The slope is the immediate direction of the swing.
Downward slope
→The downslope is the descending slope of a swing, shows a decline, reflecting a bearish price trend.
Upward slope
→The upslope is the ascending slope of a swing, shows an incline, reflecting a bullish price trend.
🔸Rule 6: The start and end of the movement are the swing points.
→The lowest or highest price of the last bar in the direction of the slope represents the swing point after the slopes direction changes.
Valley
→It is the lowest price of the last bar in a downslope before the market turns to a upslope.
End=> Downward slope and Start=> Upward slope
Peak
→It is the highest price of the last bar in a upslope before the market turns to an downslope.
End=> Upward slope and Start=> Downward slope
🔸Rule 7: The Golden Rule: Ignore all no-trend bars and compare the new bar with the previous trend bar.
→Applying the golden rule in upward slope
→Applying the golden rule in downward slope
🔸 Related content: Personal words of W.D Gann from the book Wall Street Stock Selector.
→"This was only one month's reaction the same as March 1925. The market held in a dull narrow range for about 2 months while accumulation was taking place and in June the main trend turned up again."
→The beginning of the main trend and the formation of the Valley.
→The beginning of the main trend and the formation of the Peak.
🔸 Rule 8: The Closing Price of the Bar to Understand Movement Direction.
Sequence is important
→ Downward bar
→ Upward bar
🔸 Outside Bar Rules
→Explanation of rules and calculations.
🔸 How does a trend start?
Upward trend
Trend change from Downward to Upward.
Prices must take out the nearest 'Peak' and the Trend was previously Downward.
A breakout above the previous peak signals a bullish reversal.
→ Model 1 - Dropping Valley Reversal
The market forms a dropping valley, followed by a breakout above the previous peak.
→ Model 2 - Equal Valley Reversal
The market forms an equal valley, followed by a breakout above the previous peak.
→ Model 3 - Rising Valley Reversal
The market forms a rising valley, followed by a breakout above the previous peak.
Downward trend
Trend change from Upward to Downward.
Prices must take out the nearest ‘Valley' and the Trend was previously Upward.
A breakdown below the previous valley signals a bearish reversal.
→ Model 1 - Rising Peak Reversal
The market forms a rising peak, followed by a breakdown below the previous valley.
→ Model 2 - Equal Peak Reversal
The market forms an equal peak, followed by a breakdown below the previous valley.
→ Model 3 - Dropping Peak Reversal
The market forms a dropping peak, followed by a breakdown below the previous valley.
🔸 The fractal nature of markets
Rising wave
→ The rising wave is the entire bull market between turning points
High point : When the Main trend turns from upward to downward, the peak of the primary trend is formed.
Dropping wave
→ The Dropping wave is the entire bear market between turning points.
Low point : When the Main trend turns from downward to upward, the primary trend valley is formed.
Fractal nature application.
Everything in one picture.
🔹 Features
Strict adherence to the rules: Follows the Original Gann Swing Chart Rules to detect swing points.
Fractal analysis: Uses trend bars and fractal analysis to identify swing points.
Robust functionality: Engineered to handle complex market conditions with advanced logic.
Custom alerts: Alerts for peak/valley completion, main and primary trend reversals & continuations.
Golden rule application: Filters out non-trend bars by comparing only with the last trend bar.
Reversal & trend detection: Applies eight outside bar rules to detect trend reversals and continuations.
Dynamic customization: Fully customizable settings.
🔹 Settings overview
Fine-tune the indicator to match your unique trading strategy by adjusting trend settings, customizing alerts, and modifying visualization options.
1. Main trend settings
Hide/Show Main trend options: Instantly hide all main trend options (alerts remain separate).
Main trendline display & alerts: Toggle trendline visibility and set alerts for peaks and valleys.
Trendline customization: Adjust styles, colors, and slopes for upward/downward trends.
Peaks & Valleys markers: Show/hide points and customize their color and size.
Opposite Main trend turning points: Enable alerts and modify style, width, color, and offset.
Breakout/Breakdown points: Set alerts and customize their appearance.
2. Primary trend settings
Hide/Show primary trend options: Instantly hide all primary trend options (alerts remain separate).
Primary trendline display & alerts: Toggle trendline visibility and set alerts for peaks and valleys.
Trendline customization: Adjust styles, colors, and slopes for upward/downward trends.
Peaks & Valleys markers: Show/hide points and customize their color and size.
Opposite primary trend turning points: Enable alerts and modify style, width, color, and offset.
Breakout/Breakdown points: Set alerts and customize their appearance.
3. Additional options
Tooltips display: Control tooltip visibility for labels and languages.
Candle/Bar coloring: Customize candle and bar colors based on algorithm-selected trends.
🔸 Additional features
🔹Custom reading of bars.
The arrow represents the direction of the slope, the dot is the type of trend, and the line is the closing price.
🔹 Advanced Moving Average Activator
The Advanced Moving Average Activator, this setting calculates the average closing prices of trend bars only, which are the only bars considered by Gann.
The advantage of this method is that it helps avoid hidden bars that are not accounted for, making the difference more evident in a ranging market. The values are updated only when new highs or lows occur.
Additionally, you can set alerts when the price closes above or below the moving average.
🔹 Bar Counter
After a trend change, you can see exactly when the shift occurred and customize the type of trend you want to track.
For example, by conducting your own research on the assets you trade, based on historical data, you might discover valuable insights, such as the primary trend possibly lasting longer than 20 bars!
You can use these insights to refine your trading strategy and make more data-driven decisions.
🔹 How to use
Step 1: Configure the settings and choose your trading approach
Adjust the indicator settings to match your trading style and market conditions.
Effectively using the indicator starts with selecting your preferred trading style.
You can trade in alignment with the primary trend, capitalize on market reversals, or take advantage of breakouts.
Trading with the primary trend: Best for traders who prefer longer-term positions with higher stability.
Trading reversals: Ideal for those looking to enter at potential turning points but requires additional confirmation.
Trading breakouts: Suitable for traders targeting strong price movements after key level breakouts.
Adapting to market volatility: Monitor changing volatility and adjust your strategy accordingly for optimal results.
Step 2: Analyze the chart
Apply the indicator to your TradingView chart and interpret swing signals for informed decisions.
Carefully study the chart patterns to detect subtle signals.
Check if similar signals worked well in past market conditions.
Use multi-timeframe analysis for a broader perspective.
Step 3: Trade with the primary trend
Utilize trend direction to align trades with prevailing market movements.
Always trade in the direction of the primary trend.
Confirm the trend direction using multiple indicators or by relying on the primary trend as confirmation!.
Avoid trading against strong market momentum.
Step 4: Identify entry signals
Use indicator signals to identify ideal trade entry points.
Look for confirmation before entering a trade.
Wait for clear signals to avoid false entries.
Practice on a demo account to build confidence in your entry strategy.
Step 5: Apply risk management
Define stop-loss and take-profit levels to protect your capital effectively.
Set stop-loss orders at strategic levels to limit potential losses.
Risk only a small percentage of your capital per trade.
Adjust risk levels based on your overall portfolio performance.
Step 6: Confirm with trend analysis
Validate trends using additional indicators for a higher probability of success.
Use complementary tools to confirm trend direction.
Monitor trend changes to adjust your strategy promptly.
Keep an eye on volume indicators for added confirmation.
Step 7: Execute the trade
Enter trades based on confirmed signals and predefined strategy rules.
Ensure all your criteria are met before executing a trade.
Stay disciplined and stick to your strategy.
Review market conditions right before execution.
Step 8: Monitor the trade
Track trade performance and make adjustments as necessary.
Keep an eye on market conditions throughout the trade.
Be ready to adjust your strategy if unexpected events occur.
Use trailing stops to secure profits while allowing for gains.
Step 9: Implement exit strategy
Close trades strategically based on your pre-established exit plan.
Plan your exit strategy in advance and adhere to it.
Consider partial exits to secure profits along the way.
Avoid emotional decisions when closing trades.
Step 10: Review performance
Analyze past trades to continuously refine and improve your strategy.
Regularly review and document your trades for insights.
Identify patterns in both your successes and mistakes.
Update your strategy based on comprehensive performance reviews.
🔹 Disclosure
While this script is useful and provides insight into market tops, bottoms, and trend trading, it's critical to understand that past performance is not necessarily indicative of future results and there are many more factors that go into being a profitable trader.
Volumetric Price Delivery Bias Pro @MaxMaserati🚀 Volumetric Price Delivery Bias Pro MaxMaserati
Description:
The Volumetric Price Delivery Bias Pro is an advanced trading indicator designed to provide clear insights into market trends, reversals, and continuations. Leveraging a combination of price action and volume analysis, it highlights critical support and resistance zones with unparalleled precision. It is a perfect blend of price action and volume intelligence.
🚀 Key Features:
Dynamic Price Analysis:
Detects key price turning points using fractal analysis.
Differentiates between bullish and bearish delivery signals for clear trend direction.
Support & Resistance Visualization:
Defense Lines: Pinpoint levels where buyers or sellers defend positions.
Zone Boxes: Highlight support/resistance areas with adjustable thresholds for precision.
Volume-Driven Confirmation:
Combines volume data to validate price levels.
Visualizes strength through dynamic box size and intensity.
⚡ Signals Explained
CDL (Change of Delivery Long): Indicates a bullish trend reversal.
CDS (Change of Delivery Short): Indicates a bearish trend reversal.
LD (Long Delivery): Confirms bullish trend continuation.
SD (Short Delivery): Confirms bearish trend continuation.
📊 Volume Strength Explained:
Volume strength = Current level volume ÷ (Average volume × Threshold).
Higher strength (above 100%) indicates stronger confirmation of support/resistance.
Boxes and lines dynamically adjust size and color to reflect strength.
🎯 Who Is It For?
This tool is ideal for scalpers, intraday traders, and swing traders who want to align their strategies with real market dynamics.
Scalpers: Identify quick reversals with shorter fractal lengths.
Intraday Traders: Spot balanced trends and continuations.
Swing Traders: Capture major market moves with higher confidence.
What to Do When Volume Strength Is Above 100%
Bullish Scenarios:
High volume at a support zone or during an upward move confirms strong buying interest.
Use it as confirmation for bullish setups.
Bearish Scenarios:
High volume at a resistance zone or during a downward move confirms strong selling pressure.
Use it as confirmation for bearish setups.
Range Markets:
High volume near range edges signals potential reversals or breakouts.
Observe price behavior to identify the likely scenario.
Breakouts:
High volume at key levels confirms the strength of a breakout.
Monitor for continuation in the breakout direction.
General Tip:
Combine high volume signals with other indicators or patterns for stronger confirmation.
🛠️ Customization Options
Configure fractal lengths, volume thresholds, and visual styles for optimal adaptability to scalping, intraday, or swing trading strategies.
Adjustable table display to track delivery bias, counts, and the latest signal.
📢 Alerts and Visuals:
Real-time alerts ensure you never miss critical signals.
Labels and lines mark CDL, CDS, LD, and SD levels for easy chart interpretation.
Volumetric Price Delivery Bias Pro @MaxMaserati🚀 Volumetric Price Delivery Bias Pro @MaxMaserati
Description:
The Volumetric Price Delivery Bias Pro is an advanced trading indicator designed to provide clear insights into market trends, reversals, and continuations. Leveraging a combination of price action and volume analysis, it highlights critical support and resistance zones with unparalleled precision. It is a perfect blend of price action and volume intelligence.
🚀 Key Features:
Dynamic Price Analysis:
Detects key price turning points using fractal analysis.
Differentiates between bullish and bearish delivery signals for clear trend direction.
Support & Resistance Visualization:
Defense Lines: Pinpoint levels where buyers or sellers defend positions.
Zone Boxes: Highlight support/resistance areas with adjustable thresholds for precision.
Volume-Driven Confirmation:
Combines volume data to validate price levels.
Visualizes strength through dynamic box size and intensity.
⚡ Signals Explained
CDL (Change of Delivery Long): Indicates a bullish trend reversal.
CDS (Change of Delivery Short): Indicates a bearish trend reversal.
LD (Long Delivery): Confirms bullish trend continuation.
SD (Short Delivery): Confirms bearish trend continuation.
📊 Volume Strength Explained:
Volume strength = Current level volume ÷ (Average volume × Threshold).
Higher strength (above 100%) indicates stronger confirmation of support/resistance.
Boxes and lines dynamically adjust size and color to reflect strength.
🎯 Who Is It For?
This tool is ideal for scalpers, intraday traders, and swing traders who want to align their strategies with real market dynamics.
Scalpers: Identify quick reversals with shorter fractal lengths.
Intraday Traders: Spot balanced trends and continuations.
Swing Traders: Capture major market moves with higher confidence.
What to Do When Volume Strength Is Above 100%
Bullish Scenarios:
High volume at a support zone or during an upward move confirms strong buying interest.
Use it as confirmation for bullish setups.
Bearish Scenarios:
High volume at a resistance zone or during a downward move confirms strong selling pressure.
Use it as confirmation for bearish setups.
Range Markets:
High volume near range edges signals potential reversals or breakouts.
Observe price behavior to identify the likely scenario.
Breakouts:
High volume at key levels confirms the strength of a breakout.
Monitor for continuation in the breakout direction.
General Tip:
Combine high volume signals with other indicators or patterns for stronger confirmation.
🛠️ Customization Options
Configure fractal lengths, volume thresholds, and visual styles for optimal adaptability to scalping, intraday, or swing trading strategies.
Adjustable table display to track delivery bias, counts, and the latest signal.
📢 Alerts and Visuals:
Real-time alerts ensure you never miss critical signals.
Labels and lines mark CDL, CDS, LD, and SD levels for easy chart interpretation.
Active Ranges Detector
1. Purpose
The script identifies and manages bar ranges, which are defined as bars where the high and low prices are fully contained within the high and low of the previous bar. These ranges are used by traders to identify potential breakouts and price consolidations.
2. Key Features
Active Range Validation
A potential range becomes an active range when the price breaks out of the bar’s high or low. The breakout direction is tracked:
• Upward breakout: When the price closes above the high of the range.
• Downward breakout: When the price closes below the low of the range.
The script creates:
• Lines to represent the high and low of the range.
• A colored background box to indicate the range, with color coded for breakout direction:
• Green: Upward breakout.
• Orange: Downward breakout.
Range Updates
• Exit Detection: The script detects if the price exits the range (moves outside the high or low levels).
• Reintegration and Mitigation:
• If the price re-enters an exited range, it marks the range as “mitigated.”
• The lines for mitigated ranges are updated (color and width are changed).
• The background box is removed for mitigated ranges.
3. User Inputs
The script provides customization options:
• Breakout Colors:
• upBreakoutColor: Background color for upward breakout ranges (default: semi-transparent green).
• downBreakoutColor: Background color for downward breakout ranges (default: semi-transparent orange).
• Mitigated Range Styling:
• mitigatedLineColor: Line color for mitigated ranges (default: red).
• mitigatedLineWidth: Width of the line for mitigated ranges.
• Line and Background Settings:
• activeLineWidth: Width of lines for active ranges.
• lineExtension: Length of line extensions beyond the range’s initial boundaries.
• Range Display Limits:
• maxActiveRanges: Maximum number of active ranges to display on the chart (default: up to 200).
4. Visualization
The script provides clear visual feedback for identified ranges:
• Lines: High and low levels of the range are drawn as lines on the chart.
• Background Boxes: Colored boxes are drawn to represent active ranges, with breakout direction indicated by the box’s color.
• Mitigation Styling: Mitigated ranges have updated line styles and no background.
5. Range Management
The script actively manages ranges:
• Tracks the status of each range (active, exited, reintegrated, mitigated).
• Limits the number of displayed ranges to improve chart readability and comply with TradingView’s object limits.
6. Use Case
This script is ideal for traders who:
• Use inside bars to identify areas of consolidation and breakout opportunities.
• Want to track active and mitigated ranges automatically.
• Need a clear, visual representation of ranges and breakout directions.
7. Limitations
• Inside bars are identified based only on the current and previous bar, so the script might not detect more complex consolidation patterns.
• The maximum number of ranges displayed is limited to the user-defined value (maxActiveRanges), with a hard limit of 200 due to TradingView’s object restrictions.
Support and Resistance Zones (MTF)Support and Resistance Zones (MTF) is a multi-timeframe indicator that identifies support and resistance zones and is highly customizable for precise market analysis. Users can adjust various inputs to adapt the zones to price action, highlighting the most significant and probable zones.
█ USAGE & KEY FEAUTURES
1. Look Back Bars: This setting defines the maximum number of bars that can display a zone, removing old ones that are no longer significant. For example, in the 4-hour FX:GBPUSD chart below, only zones from the last 1000 bars are plotted. This helps reduce noise and eliminate unnecessary zones that could lead to incorrect market analysis.
2. Ranging Periods: On lower timeframes, such as a 1-minute chart, overplotting can become more problematic. As shown in the image below, there are many insignificant zones when the market trends upwards. In such cases, retaining zones only where the market is ranging helps identify potential reversal points and entry opportunities.
By focusing on the last 400 bars in a ranging phase, the market structure and key support and resistance areas become clearer, aiding in potential trade setups. Additionally, the " Plot Zone Touches " feature shows where and how many times each zone has been touched, emphasizing zones with multiple price respects.
In fact, users can remove zones of a specific length that have fewer touches than a set amount (" Minimum Zone Touches "). This feature helps eliminate unnecessary zones from the chart.
3. Plotting Zone Breakouts: Zones can be plotted with breakouts labels and even deleted if broken more than a specified number of times enabling the " Cut On Breakouts " feature. For example, zones broken more than two times and by more than two consecutive bars were removed in the image below. The " Breakout Consecutive Bars " setting helps identify fakeouts by allowing the user to set how many consecutive bars must break the zone to define a breakout.
4. Wick Cleaner: This feature deletes zones formed above or below a wick percentage level, depending on whether it is a support or resistance zone. Without this input, charts could have zones formed from long wicks, as shown below.
5. Other User Inputs:
• Delete Overlapped Zones: Removes zones with a specific percentage of their body inside another zone. If this number is negative, zones that are too close to each other will be deleted.
• Change Color On Breakouts: Changes the zone color when the price is above or below it.
• ATR Multiplier: Adjusts the zone width.
█ CONCLUSION
The primary objective of this indicator is to plot key support and resistance zones while minimizing noise from unnecessary zones. As mentioned at the beginning, this indicator is highly customizable, so feel free to experiment with different settings to optimize its performance.
█ IMPORTANT
This indicator is currently not available for multi-timeframe (MTF) market analysis but will be in the near future.
Stay tuned, and I hope you like it. Please share any comments below. Have a great trading experience!
RBS | Profitholders Thanks for source code author , I have modified this for especially Indian market.
RBS Indicator is Rang Breakout System, This is same "Opening Range Breakout" which is a common trading strategy. The indicator can analyze the market trend in the current session and give "Buy / Sell", "Take Profit" and "Stop Loss" signals. For more information about the analyzing process of the indicator, you can read "How Does It Work ?" section of the description.
Features of RBS indicator :
Buy & Sell Signals
Up To 3 Take Profit Signals
Stop-Loss Signals
Alerts for Buy / Sell, Take-Profit and Stop-Loss
Session Dashboard
Back testing Dashboard
HOW DOES IT WORK ?
This indicator works best in 15-minute timeframe. Need to change Chart time frame depends on symbols , The idea is that the trend of the current session can be forecasted by analyzing the market for a while after the session starts. However, each market has it's own dynamics and the algorithm will need fine-tuning to get the best performance possible. So, we've implemented a "Back testing Dashboard" that shows the past performance of the algorithm in the current ticker with your current settings. Always keep in mind that past performance does not guarantee future results. So this is for educational purpose.
Here are the steps of the algorithm explained briefly :
1. The algorithm follows and analyzes the first 15 minutes (can be adjusted) of the session.
2. Then, algorithm checks for breakouts of the opening range's high or low.
3. If a breakout happens in a bullish or a bearish direction, the algorithm will now check for retests of the breakout. Depending on the sensitivity setting, there must be 0 / 1 / 2 / 3 failed retests for the breakout to be considered as reliable.
4. If the breakout is reliable, the algorithm will give an entry signal.
5. After the position entry, algorithm will now wait for Take-Profit or Stop-Loss zones and signal if any of them occur.
If you wonder how does the indicator find Take-Profit & Stop-Loss zones, you can check the "Settings" section of the description.
UNIQUENESS
While there are indicators that show the opening range of the session, they come short with features like indicating breakouts, entries, and Take-Profit & Stop-Loss zones. We are also aware of that different stock markets have different dynamics, and tuning the algorithm for different markets is really important for better results, so we decided to make the algorithm fully customizable. Besides all that, our indicator contains a detailed back testing dashboard, so you can see past performance of the algorithm in the current ticker. While past performance does not yield any guarantee for future results, we believe that a back testing dashboard is necessary for tuning the algorithm. Another strength of this indicator is that there are multiple options for detection of Take-Profit and Stop-Loss zones, which the trader can select one of their liking.
⚙️SETTINGS
Keep in mind that best chart timeframe for this indicator to work is the 15-minute timeframe on Indian Market.
TP = Take-Profit
SL = Stop-Loss
EMA = Exponential Moving Average
OR = Opening Range
ATR = Average True Range
1. Algorithm
RBS Timeframe -> This setting determines the timeframe that the algorithm will analyze the market after a new session begins before giving any signals. It's important to experiment with this setting and find the best option that suits the current ticker for the best performance. More volatile stocks will often require this setting to be larger, while more stabilized stocks may have this setting shorter.
Sensitivity -> This setting determines how much failed retests are needed to take a position entry. Higher sensitivity means that less retests are needed to consider the breakout as reliable. If you think that the current ticker makes strong movements in a bullish & bearish direction after a breakout, you should set this setting higher. If you think the opposite, meaning that the ticker does not decide the trend right after a breakout, this setting show be lower.
(High = 0 Retests, Medium = 1 Retest, Low = 2 Retests, Lowest = 3 Retests)
Breakout Condition -> The condition for the algorithm to detect breakouts.
Close = Bar needs to close higher than the OR High Line in a bullish breakout, or lower than the OR Low Line in a bearish breakout. EMA = The EMA of the bar must be higher / lower than OR Lines instead of the close price.
TP Method -> The method for the algorithm to use when determining TP zones.
Dynamic = This TP method essentially tries to find the bar that price starts declining the current trend and going to the other direction, and puts a TP zone there. To achieve this, it uses an EMA line, and when the close price of a bar crosses the EMA line, It's a TP spot.
ATR = In this TP method, instead of a dynamic approach the TP zones are pre-determined using the ATR of the entry bar. This option is generally for traders who just want to know their TP spots beforehand while trading. Selecting this option will also show TP zones at the ORB Dashboard.
"Dynamic" option generally performs better, while the "ATR" method is safer to use.
EMA Length -> This setting determines the length of the EMA line used in "Dynamic TP method" and "EMA Breakout Condition". This is completely up to the trader's choice, though the default option should generally perform well. You might want to experiment with this setting and find the optimal length for the current ticker.
Stop-Loss -> Algorithm will place the Stop-Loss zone using setting.
Safer = The SL zone will be placed closer to the OR High for a bullish entry, and closer to the OR Low for a bearish entry.
Balanced = The SL zone will be placed in the center of OR High & OR Low
Risky = The SL zone will be placed closer to the OR Low for a bullish entry, and closer to the OR High for a bearish entry.
Adaptive SL -> This option only takes effect if the first TP zone is hit.
Enabled = After the 1st TP zone is hit, the SL zone will be moved to the entry price, essentially making the position risk-free.
Disabled = The SL zone will never change.
2. RBS Dashboard
RBS Dashboard shows the information about the current session.
3. RBS Back testing
RBS Back testing Dashboard allows you to see past performance of the algorithm in the current ticker with current settings.
Total amount of days that can be back tested depends on your TV subscription.
Back testing Exit Ratios -> You can select how much of percent your entry will be closed at any TP zone while back testing. For example, %90, %5, %5 means that %90 of the position will be closed at the first TP zone, %5 of it will be closed at the 2nd TP zone, and %5 of it will be closed at the last TP zone.
ORB Algo | Flux Charts💎 GENERAL OVERVIEW
Introducing our new ORB Algo indicator! ORB stands for "Opening Range Breakout" which is a common trading strategy. The indicator can analyze the market trend in the current session and give "Buy / Sell", "Take Profit" and "Stop Loss" signals. For more information about the analyzing process of the indicator, you can read "How Does It Work ?" section of the description.
Features of the new ORB Algo indicator :
Buy & Sell Signals
Up To 3 Take Profit Signals
Stop-Loss Signals
Alerts for Buy / Sell, Take-Profit and Stop-Loss
Customizable Algoritm
Session Dashboard
Backtesting Dashboard
📌 HOW DOES IT WORK ?
This indicator works best in 1-minute timeframe. The idea is that the trend of the current session can be forecasted by analyzing the market for a while after the session starts. However, each market has it's own dynamics and the algorithm will need fine-tuning to get the best performance possible. So, we've implemented a "Backtesting Dashboard" that shows the past performance of the algorithm in the current ticker with your current settings. Always keep in mind that past performance does not guarantee future results.
Here are the steps of the algorithm explained briefly :
1. The algorithm follows and analyzes the first 30 minutes (can be adjusted) of the session.
2. Then, algorithm checks for breakouts of the opening range's high or low.
3. If a breakout happens in a bullish or a bearish direction, the algorithm will now check for retests of the breakout. Depending on the sensitivity setting, there must be 0 / 1 / 2 / 3 failed retests for the breakout to be considered as reliable.
4. If the breakout is reliable, the algorithm will give an entry signal.
5. After the position entry, algorithm will now wait for Take-Profit or Stop-Loss zones and signal if any of them occur.
If you wonder how does the indicator find Take-Profit & Stop-Loss zones, you can check the "Settings" section of the description.
🚩UNIQUENESS
While there are indicators that show the opening range of the session, they come short with features like indicating breakouts, entries, and Take-Profit & Stop-Loss zones. We are also aware of that different stock markets have different dynamics, and tuning the algorithm for different markets is really important for better results, so we decided to make the algorithm fully customizable. Besides all that, our indicator contains a detailed backtesting dashboard, so you can see past performance of the algorithm in the current ticker. While past performance does not yield any guarantee for future results, we believe that a backtesting dashboard is necessary for tuning the algorithm. Another strength of this indicator is that there are multiple options for detection of Take-Profit and Stop-Loss zones, which the trader can select one of their liking.
⚙️SETTINGS
Keep in mind that best chart timeframe for this indicator to work is the 1-minute timeframe.
TP = Take-Profit
SL = Stop-Loss
EMA = Exponential Moving Average
OR = Opening Range
ATR = Average True Range
1. Algorithm
ORB Timeframe -> This setting determines the timeframe that the algorithm will analyze the market after a new session begins before giving any signals. It's important to experiment with this setting and find the best option that suits the current ticker for the best performance. More volatile stocks will often require this setting to be larger, while more stabilized stocks may have this setting shorter.
Sensitivity -> This setting determines how much failed retests are needed to take a position entry. Higher senstivity means that less retests are needed to consider the breakout as reliable. If you think that the current ticker makes strong movements in a bullish & bearish direction after a breakout, you should set this setting higher. If you think the opposite, meaning that the ticker does not decide the trend right after a breakout, this setting show be lower.
(High = 0 Retests, Medium = 1 Retest, Low = 2 Retests, Lowest = 3 Retests)
Breakout Condition -> The condition for the algorithm to detect breakouts.
Close = Bar needs to close higher than the OR High Line in a bullish breakout, or lower than the OR Low Line in a bearish breakout. EMA = The EMA of the bar must be higher / lower than OR Lines instead of the close price.
TP Method -> The method for the algorithm to use when determining TP zones.
Dynamic = This TP method essentially tries to find the bar that price starts declining the current trend and going to the other direction, and puts a TP zone there. To achieve this, it uses an EMA line, and when the close price of a bar crosses the EMA line, It's a TP spot.
ATR = In this TP method, instead of a dynamic approach the TP zones are pre-determined using the ATR of the entry bar. This option is generally for traders who just want to know their TP spots beforehand while trading. Selecting this option will also show TP zones at the ORB Dashboard.
"Dynamic" option generally performs better, while the "ATR" method is safer to use.
EMA Length -> This setting determines the length of the EMA line used in "Dynamic TP method" and "EMA Breakout Condition". This is completely up to the trader's choice, though the default option should generally perform well. You might want to experiment with this setting and find the optimal length for the current ticker.
Stop-Loss -> Algorithm will place the Stop-Loss zone using setting.
Safer = The SL zone will be placed closer to the OR High for a bullish entry, and closer to the OR Low for a bearish entry.
Balanced = The SL zone will be placed in the center of OR High & OR Low
Risky = The SL zone will be placed closer to the OR Low for a bullish entry, and closer to the OR High for a bearish entry.
Adaptive SL -> This option only takes effect if the first TP zone is hit.
Enabled = After the 1st TP zone is hit, the SL zone will be moved to the entry price, essentially making the position risk-free.
Disabled = The SL zone will never change.
2. ORB Dashboard
ORB Dashboard shows the information about the current session.
3. ORB Backtesting
ORB Backtesting Dashboard allows you to see past performance of the algorithm in the current ticker with current settings.
Total amount of days that can be backtested depends on your TV subscription.
Backtesting Exit Ratios -> You can select how much of percent your entry will be closed at any TP zone while backtesting. For example, %90, %5, %5 means that %90 of the position will be closed at the first TP zone, %5 of it will be closed at the 2nd TP zone, and %5 of it will be closed at the last TP zone.
Volume Status by BobRivera990This indicator is a tool that shows a relative view of the trading volume and classifies the volume into 5 different levels and makes it easy to compare it in different periods.
It is also specifically designed for detecting failed (fake) breakouts.
How it works?
This tool uses something similar to Bollinger Bands , but with more bands.
I used two standard deviations (positive and negative) on either side of a simple moving average ( SMA ) of the trading volume .
I also used twice the standard deviation (negative and positive) on either side of the SMA to create more bands.
The classification is made as follows:
Usage:
This indicator is a tool to compare the volume , relatively and in different periods. It is also a good tool for detecting failed (fake) breakouts.
Fake Breakouts Occurs when a support or resistance is broken but the market does not accept and support these price changes. This lack of support will cause trading volume to decrease during or after the breakout.
So, if the indicator shows Low-Volume or Minor-Volume status at the time of the breakout or right after that, it may be a fake breakout.
The truth is you cannot avoid false breakouts completely as long as you trade breakouts but you can minimize the risk and the loss.
Thank you all for forming this unique community.
Parameters:
" Volume SMA Length " => The length of the simple moving average of the Volume
8:15 AM 15-min Candle Box on 5-min Chart with TP and SLThe “8:15 AM 15-min Candle Box on 5-min Chart with TP and SL” indicator is a custom-built Pine Script tool for breakout trading strategies, particularly tailored for assets like NASDAQ Futures (NAS100) during the U.S. market pre-open.
🔍 What It Does:
Tracks the 8:15–8:30 AM Central Time (CDT) Candle:
It marks the high and low of the 15-minute candle that starts at 8:15 AM (CDT).
The box visually outlines this price range.
Draws a Breakout Box:
At 8:30 AM, a box is drawn from the 8:15 candle’s high and low.
The box stretches forward 8 hours into the session, helping you visualize price interaction with that range.
Detects Breakouts:
If the price closes above the high, it signals a buy breakout.
If it closes below the low, it signals a sell breakout.
Automatically Calculates TP and SL:
Take Profit (TP): 50 pips from the breakout level in the direction of the trade.
Stop Loss (SL): 40 pips in the opposite direction.
Pips are calculated using the symbol’s minimum tick size.
Color Feedback:
Box turns green on a buy breakout, red on a sell breakout.
If TP is reached, the box turns black.
If SL is hit, the box turns purple.
🧠 Why Use This Indicator:
Perfect for pre-market breakout traders who want a visual confirmation of price action around the U.S. market open.
Provides a clear entry range, trade direction, and risk/reward visual cue.
No manual drawing — everything is automated daily based on reliable timing.
Would you like a version with alerts or plotted TP/SL lines as well?
Volume-RSI Colored Bars
The Volume Indicator, used in conjunction with the embedded Relative Strength Index (RSI), is a powerful tool for making informed trading decisions. Let’s break down how this indicator works and how it can assist you in your trading strategy.
Volume Indicator:
The Volume Indicator tracks the volume of trades occurring in a specific timeframe. Volume shows the number of shares or contracts traded, which can reveal the strength of a price move. If price is moving higher with increasing volume, it generally confirms that the move has more strength, indicating the potential for continuation. Conversely, if the price is moving lower with increasing volume, it indicates strong bearish momentum.
Volume Clusters:
In the chart, we can see various volume clusters highlighted in green, red, and grey. The green bars represent high volume, which can signal strong buying pressure. The red bars represent low volume, signaling that selling pressure is low. Grey bars indicate average volume.
High Volume (Green Bars): High buying pressure, indicating that there may be a strong move in the direction of the price.
Low Volume (Red Bars): Potential signal for a weak move, indicating a lack of participation in the current trend.
RSI (Relative Strength Index):
RSI is a momentum oscillator that indicates whether a market is overbought or oversold. The RSI ranges from 0 to 100, with readings above 70 suggesting an overbought market and readings below 30 suggesting an oversold market.
The RSI is also embedded in the indicator to give a better context when combined with volume. It adds an extra layer of analysis to interpret the price action.
How to Use Volume Indicator with RSI:
Confirming Breakouts:
If you see a breakout in price (an upward movement or downward movement) and the volume indicator shows high volume, this confirms the strength of the breakout.
If the RSI also supports the breakout (for example, it is crossing above 50 or above 70 for an uptrend), it further validates the trade.
Identifying Reversals:
When the price is reaching overbought or oversold levels (RSI above 70 or below 30) and there is low volume (red bars), this may indicate a potential reversal.
If the price is oversold and RSI shows values below 30 with increasing volume (green bars), this could signal a potential buying opportunity as a reversal might occur.
Volume Divergence:
If the price is making new highs, but the volume is declining (red bars), it may signal weakness in the trend, despite the RSI indicating strength. This divergence can help traders anticipate a potential reversal or breakout.
Example from the Chart:
Strong Buy Signal: The price is making an upward movement, the volume bars are turning green (indicating strong buying pressure), and RSI is rising above 50.
Bearish Divergence: You may see RSI moving higher, but volume bars are turning red (indicating weak momentum). This could signal that the upward movement lacks strength, suggesting a potential reversal.
By combining these two indicators, the Volume Indicator and the RSI, traders can make more informed decisions on whether the current trend is sustainable, or if a reversal or breakout is likely.
In conclusion, using the Volume Indicator and RSI together allows for:
Identifying high-volume breakouts and reversals
Filtering out weak price movements
Confirming trends with volume and momentum
This combination enhances trading strategies by providing clear signals of market strength or weakness, helping traders optimize their entry and exit points effectively.
Eze Profit Range Detection FilterThe Range Detection Filter is a technical analysis tool designed to help traders identify range-bound market conditions and focus on breakout opportunities. It combines the ATR (Average True Range) for volatility analysis and the ADX (Average Directional Index) for trend strength evaluation to highlight consolidation phases and alert traders when the market is ready to break out.
This indicator provides visual cues and customizable alerts, making it suitable for traders looking to avoid false signals during choppy markets and capitalize on trending moves following a breakout.
What Makes It Unique?
ATR for Volatility:
Measures market volatility by comparing ATR with its moving average.
Consolidation phases are flagged when ATR remains below its moving average for a sustained period.
ADX for Trend Strength:
Monitors trend strength, confirming range-bound conditions when ADX falls below a user-defined threshold (default: 20).
Combines with ATR to ensure accurate detection of trendless periods.
Breakout Alerts:
Notifies traders of breakout opportunities when the price moves outside the highest high or lowest low of the range.
How It Works:
Range Detection:
The market is considered "in range" when:
ATR is below its moving average, indicating low volatility.
ADX is below the threshold, confirming a lack of trend strength.
Visual Indication:
A yellow background highlights range-bound conditions, allowing traders to avoid low-probability trades.
Breakout Detection:
Alerts are triggered for breakouts above or below the range to help traders identify potential opportunities.
Features:
Range Highlighting:
Automatically detects and highlights range-bound markets using a yellow background.
Breakout Alerts:
Sends alerts for breakouts above or below the range once the market exits consolidation.
Customizable Inputs:
ATR length, moving average length, and ADX parameters are fully adjustable to adapt to various trading styles and asset classes.
Multi-Timeframe Compatibility:
Suitable for all markets and timeframes, including stocks, forex, and cryptocurrencies.
How to Use:
Identify Ranges:
Avoid trading when the yellow background appears, signaling a range-bound market.
Focus on Breakouts:
Look for alerts indicating breakouts above or below the range for potential trending opportunities.
Combine with Other Indicators:
Use volume analysis, momentum oscillators, or candlestick patterns to confirm breakout signals.
Credits:
This script utilizes widely accepted methodologies for ATR and ADX calculations. ADX is calculated manually using directional movement (+DI and -DI) for precise trend detection. The concept has been adapted and enhanced to create this comprehensive range-detection tool.
Notes:
This indicator is intended for educational purposes and should not be used as standalone financial advice.
Always incorporate this tool into a broader trading strategy for optimal results.
Historical Price Levels: Week, Month, QuarterDescription:
The Historical Highs and Lows: Weekly, Monthly, Quarterly Levels indicator is designed to mark significant price levels based on the highest and lowest prices within specific historical time periods. This indicator provides insights into key price points from multiple timeframes: weekly, monthly, and quarterly. It is ideal for traders who want to monitor and analyze the critical support and resistance levels that may influence price movement.
This indicator draws horizontal lines from the highest and lowest price points of past weeks, months, and quarters, extending 10 candles into the future from these critical price levels. The indicator also provides labels to mark each of these levels, making it easy to identify important turning points in the price chart.
Key Features:
Historical Highs and Lows: The indicator marks the highest and lowest prices for each specified period—weekly, monthly, and quarterly—up to the last closed week, month, or quarter.
Dynamic Lines: The lines are drawn from the historical high/low points and extended to the right by 10 candles, representing potential future price levels of interest.
Labels: The indicator provides labels such as "Week X High", "Month X Low", and "Quarter X High", placed on the right side of the chart to highlight each significant level.
Customizable: Users can adjust the appearance of the lines, including the line style and color, to match their preferences.
Multi-Timeframe Support: The indicator works across all timeframes, ensuring that users can view relevant historical levels regardless of their chart's resolution.
How to Use:
Support and Resistance: The high and low levels marked by this indicator can act as key support and resistance zones. Price action may reverse when it approaches these levels, as they represent significant price points where the market has reversed in the past.
Reversal Points: Price often reacts strongly when it reaches these historical highs or lows. Traders can use these levels to anticipate potential reversals or breakouts.
Market Analysis: By identifying the key high and low points of different timeframes, traders can gain a deeper understanding of the market’s past behavior and use this information to make more informed trading decisions.
Usage Strategy:
Price Reversals: When price approaches one of the historical high or low levels, watch for signs of reversal, such as candlestick patterns (e.g., Doji, Engulfing) or other technical indicators (e.g., RSI, MACD). These levels often act as strong barriers, and price can reverse at these points.
Breakouts: If the price breaks through these levels, it could signal the beginning of a new trend. For example, a breakout above a historical high may suggest bullish momentum, while a breakdown below a historical low may indicate a bearish trend.
Conclusion:
The Historical Highs and Lows: Weekly, Monthly, Quarterly Levels indicator is a powerful tool for traders looking to understand and monitor key price levels. By identifying significant price points from multiple timeframes, traders can use this information to predict potential price reversals or breakouts. Given the nature of these levels, price often reacts near them, providing valuable opportunities for entry and exit points.
Bollinger Band Squeeze with Dotted MidlinesBollinger Band Squeeze with Dotted Midlines
Overview:
The Bollinger Band Squeeze with Dotted Midlines indicator is a powerful tool designed to identify periods of low volatility in the market, known as "squeeze" conditions, which often precede significant price movements. By combining Bollinger Bands and Keltner Channels, this indicator highlights when the market is consolidating and prepares traders for potential breakouts.
Key Features:
• Squeeze Detection: The indicator fills the area between the Bollinger Bands and Keltner Channels with a semi-transparent red color when both the upper and lower Bollinger Bands are within the Keltner Channels. This visual cue signifies a squeeze condition.
• Dynamic Color Filling: When the Bollinger Bands move outside the Keltner Channels, the fill color changes to a semi-transparent white, indicating the end of the squeeze and the potential start of increased volatility.
• Enhanced Visual Clarity:
o Upper and Lower Bands: The upper and lower lines of both the Bollinger Bands and Keltner Channels are plotted with increased thickness (3pt) for better visibility.
o Midlines with Dotted Effect: The middle lines (50% lines) for both the Bollinger Bands and Keltner Channels are plotted as dotted lines using circles with a thinner line width (1pt), providing a clear yet unobtrusive reference point.
Indicator Components:
1. Bollinger Bands (Orange Lines):
o Upper Bollinger Band: Calculated as the moving average plus a multiple of the standard deviation.
o Lower Bollinger Band: Calculated as the moving average minus a multiple of the standard deviation.
o Middle Bollinger Band: The simple moving average (SMA) of the closing price.
2. Keltner Channels (White Lines):
o Upper Keltner Channel: Calculated as the exponential moving average (EMA) plus a multiple of the average true range (ATR).
o Lower Keltner Channel: Calculated as the EMA minus a multiple of the ATR.
o Middle Keltner Channel: The EMA of the closing price.
3. Squeeze Condition Fill:
o Red Fill (40% Opacity): Indicates a squeeze condition where the Bollinger Bands are entirely within the Keltner Channels.
o White Fill (40% Opacity): Indicates normal market conditions where the Bollinger Bands have moved outside the Keltner Channels.
How to Use:
1. Identifying Squeeze Conditions:
o Look for Red Filled Areas: When you see the area between the Bollinger Bands and Keltner Channels filled in semi-transparent red, it signals a squeeze condition. This means the market is experiencing low volatility and may be preparing for a significant move.
2. Preparing for Potential Breakouts:
o Monitor for Fill Color Changes: A transition from red to white fill suggests that the squeeze is ending, and volatility is increasing. Traders often interpret this as a potential opportunity for a breakout in either direction.
3. Utilizing Midlines:
o Reference Midlines for Trend Direction: The dotted midlines provide insight into the overall trend. Crossing of the price above or below these lines can offer additional confirmation for trading decisions.
Customization Options:
• Bollinger Bands Settings:
o Length: Default is 20 periods. Adjust to change the sensitivity of the bands.
o Multiplier: Default is 2.0. Modify to increase or decrease the band width based on standard deviation.
• Keltner Channels Settings:
o Length: Default is 20 periods. Alter to adjust the responsiveness of the channels.
o Multiplier: Default is 1.5. Change to widen or narrow the channels based on average true range.
Advantages:
• Visual Clarity: Enhanced line thickness and semi-transparent fills make it easy to spot key market conditions at a glance.
• Early Warning System: By identifying squeeze conditions, traders can anticipate potential breakouts and plan their strategies accordingly.
• Flexible Application: Suitable for various timeframes and trading styles, including day trading, swing trading, and position trading.
Limitations:
• False Signals: Like all technical indicators, it may produce false signals, especially in choppy or range-bound markets.
• Should Be Used with Other Indicators: For better accuracy, it's recommended to use this indicator in conjunction with other technical analysis tools and not as a standalone signal generator.
Conclusion:
The Bollinger Band Squeeze with Dotted Midlines indicator is a valuable addition to any trader's toolkit. By effectively highlighting periods of consolidation and potential breakout points, it aids in making informed trading decisions. The visual enhancements improve usability, allowing traders to quickly interpret market conditions and respond appropriately.
BreakoutTrendFollowingINFO:
The "BreakoutTrendFollowing" indicator is a comprehensive trading system designed for trend-following in various market environments. It combines multiple technical indicators, including Moving Averages (MA), MACD, and RSI,
along with volume analysis and breakout detection from consolidation, to identify potential entry points in trending markets. This strategy is particularly effective for assets that exhibit strong trends and significant price movements.
Note that using the consolidation filter reduces the amount of entries the strategy detects significantly, and needs to be used if we want to have an increased confidence in the trend via breakout.
However, the strategy can be easily transformed to various only trend-following strategies, by applying different filters and configurations.
The indicator can be used to connect to the Signal input of the TTS (TempalteTradingStrategy) by jason5480 in order to backtest it, thus effectively turning it into a strategy (instructions below in TTS CONNECTIVITY section)
DETAILS:
The strategy's core is built upon several key components:
Moving Average (MA): Used to determine the general trend direction. The strategy checks if the price is above the selected MA type and length.
MACD Filter: Analyzes the relationship between two moving averages to confirm the trend's momentum.
Consolidation Detection: Identifies periods of price consolidation and triggers trades on breakouts from these ranges.
Volume Analysis: Assesses trading volume to confirm the strength and validity of the breakout.
RSI: Used to avoid overbought conditions, ensuring trades are entered in favorable market situations.
Wick filters: make sure there is not a long wick that indicates selling pressure from above
The strategy generates buy signals when several conditions are met concurrently (each one of them can be individually enabled/disabled)"
The price is above the selected MA.
A breakout occurs from a configurable consolidation range.
The MACD line is above the signal line, indicating bullish momentum.
The RSI is below the overbought threshold.
There's an increase in trading volume, confirming the breakout's strength.
Currently the strategy fires SL signals, as the approach is to check for loss of momentum - i.e. crossunder of the MACD line and signal line, but that is to everyone to determine the exit conditions.
The buy and SL signals are set on the chart using green or orange triangles on the below/above the price action.
SETTINGS:
Users can customize various parameters, including MA type and period, MACD settings, consolidation length, and volume increase percentage. The strategy is equipped with alert conditions for both entry (buy signals) and exit (set stop loss) points, facilitating both manual and automated trading.
Each one of the technical indicators, as well as the consilidation range and breakout/wick settings can be configured and enabled/disabled individually.
Please thoroughly review the available settings of the script, but here is an outline of the most important ones:
Use bar wicks (instead of open/close) - the ref_high/low will be taken based on the bar wicks, rather than the open/close when determining the breakout and MA
Enter position only on green candles - additional filters to make sure that we enter only on strong momentum
MA Filter: (enable, source, type, length) - general settings for MA filter to be checked against the stock price (close or upper wick)
MACD Filter: (enable, source, Osc MA type, Signal MA type, Fast MA length, Slow MA length, Low MACD Hist) - detailed settings for fine MACD tuning
Consolidation:
Consolidation Type: we have two different ways of detecting the consolidation, note the types below.
CONSOLIDATION_BASIC - consolidation areas by looking for the pivot point of a trend and counts the number of bars that have not broken the consolidation high/low levels.
CONSOLIDATIO_RANGE_PERCENT - identifies consolidation by comparing the range between the highest and lowest price points over a specified period.
So in summary the CONSOLIDATIO_RANGE_PERCENT uses a percentage-based range to define consolidation, while CONSOLIDATION_BASIC uses a count of bars within a high-low range to establish consolidation.
Thus the former is more focused on the tightness of the price range, whereas the latter emphasizes the duration of the consolidation phase.
The CONSOLIDATIO_RANGE_PERCENT might be more sensitive to recent price movements and suitable for shorter-term analysis, while CONSOLIDATION_BASIC could be better for identifying longer-term consolidation patterns.
Min consolidation length - applicable for CONSOLIDATION_BASIC case, the min number of bars for the price to be in the range to consider consolidation
Consolidation Loopback period - applicable for CONSOLIDATION_BASIC case, the loopback number of bars to look for consolidation
Consolidation Range percent - applicable for CONSOLIDATIO_RANGE_PERCENT, the percent between the high and low in the range to consider consolidation
Plot consolidation - enables plotting of the consolidation (only for debug purposes)
Breakout: (enable, low, high) - the definition of the breakout from the previous consolidation range, the price should be between to determine the breakout as successfull
Upper wick: (enable, percent) - defines the percent of the upper wick compared to the whole candle to allow breakout (if the wick is too big part of the candle we can consider entering the position riskier)
RSI: (enable, length, overbought) - general settings for RSI TA
Volume (enbale, percentage increase, average volume filter en, loopback bars) - percentage of increase of the volume to consider for a breakout. There are two modes - percentage increase compared to the previous bar, or percentage against the average volume for the last loopback bars.
Note that there are many different configuration that you can play with, and I believe this is the strength of the strategy, as it can provide a single solution for different cases and scenarios.
My advice is to try and play with the different options for different markets based on the approach you want to implement and try turning features on/off and tuning them further.
TTS SETTINGS (NEEDED IF USED TO BACKTEST WITH TTS):
The TempalteTradingStrategy is a strategy script developed in Pine by jason5480, which I recommend for quick turn-around of testing different ideas on a proven and tested framework
I cannot give enough credit to the developer for the efforts put in building of the infrastructure, so I advice everyone that wants to use it first to get familiar with the concept and by checking
by checking jason5480's profile www.tradingview.com
The TTS itself is extremely functional and have a lot of properties, so its functionality is beyond the scope of the current script -
Again, I strongly recommend to be thoroughly explored by everyone that plans on using it.
In the nutshell it is a script that can be feed with buy/sell signals from an external indicator script and based on many configuration options it can determine how to execute the trades.
The TTS has many settings that can be applied, so below I will cover only the ones that differ from the default ones, at least according to my testing - do your own research, you may find something even better :)
The current/latest version that I've been using as of writing and testing this script is TTSv48
Settings which differ from the default ones:
Deal Conditions Mode - External (take enter/exit conditions from an external script)
🔌Signal 🛈➡ - BreakoutTrendFollowing: 🔌Signal to TTS (this is the output from the indicator script, according to the TTS convention)
Order Type - STOP (perform stop order)
Distance Method - HHLL (HigherHighLowerLow - in order to set the SL according to the strategy definition from above)
The next are just personal preferences, you can feel free to experiment according to your trading style
Take Profit Targets - 0 (either 100% in or out, no incremental stepping in or out of positions)
Dist Mul|Len Long/Short- 10 (make sure that we don't close on profitable trades by any reason)
Quantity Method - EQUITY (personal backtesting preference is to consider each backtest as a separate portfolio, so determine the position size by 100% of the allocated equity size)
Equity % - 100 (note above)
