Daily COC Strategy with SHERLOCK WAVESThis indicator implements a unique trading strategy known as the "Daily COC (Candle Over Candle) Strategy" enhanced with "SHERLOCK WAVES" for pattern recognition. It's designed for traders looking to capitalize on specific candlestick formations with a negative risk-reward ratio, with the aim of achieving a high win rate (over 70%) through numerous trading opportunities, despite each trade having a higher risk relative to the reward.
Key Features:
Pattern Recognition: Identifies a setup based on three consecutive candles - a red candle followed by a shooting star, then an entry candle that does not break below the shooting star's low.
Negative Risk/Reward Trade Selection: Focuses on entries where the potential stop loss is greater than the take profit, banking on a high win rate to offset the individual trade's negative risk-reward ratio.
Visual Signals:
Green Label: Marks potential entry points at the high of the candle before the entry.
Green Dot: Indicates a winning trade closure.
Red Dot: Signals a losing trade closure.
Blue Circle: Warns when the current candle is within 2% of breaking above the previous candle's high, suggesting a potential setup is developing.
Green Circle: Plots the take profit level.
Red Circle: Plots the stop loss level.
Dynamic Statistics: A live updating label showing the number of trades, wins, losses, open trades, current account balance, and win percentage.
Customizable Parameters:
Risk % per Trade: Adjust the percentage of your account balance you're willing to risk on each trade.
Initial Account Balance: Set your starting balance for tracking performance.
Start Date for Strategy: Define when the strategy should start calculating from, allowing for backtesting.
Alerts:
An alert condition is set for when a potential trade setup is developing, helping traders prepare for entries.
Usage Tips:
This strategy is predicated on the idea that a high win rate can compensate for the negative risk-reward ratio of individual trades. It might not suit all market conditions or traders' risk profiles.
Use this strategy in conjunction with other analysis methods to validate trade setups.
Note: Always backtest thoroughly before applying to live markets. Consider this tool as part of a broader trading strategy, not a standalone solution. Monitor your win rate and adjust your risk management accordingly to ensure the strategy remains profitable over time.
This description now correctly explains the purpose behind the negative risk-reward ratio in the context of your trading strategy.
Komut dosyalarını "entry" için ara
4 EMA & MACDThe indicator that combines Moving Average and MACD into one is very useful for providing a more complete picture of the market. Here's how it works:
Moving Average (MA): This is a trend indicator that smooths the price to show the dominant trend direction. MA helps traders determine whether the market is in an uptrend, downtrend, or sideways. For example, if the price is above the MA, it might indicate an uptrend, while if the price is below the MA, it might indicate a downtrend.
MACD (Moving Average Convergence Divergence): MACD measures market momentum and can provide entry and exit signals based on the difference between two moving averages (fast MA and slow MA). A buy signal occurs when the MACD crosses above the signal line, and a sell signal occurs when the MACD crosses below the signal line.
Combining both gives traders a more complete view:
MA provides an overview of the larger trend direction.
MACD helps identify moments when momentum supports a position for entering or exiting.
Common usage:
Entry: If the price is above the Moving Average (uptrend) and the MACD shows a buy signal (for example, MACD crossing above the signal line), it can be a signal to buy.
Exit: If the price starts moving below the MA and the MACD shows a sell signal, it can be a signal to sell or exit the position.
There is an indicator called MACD + Moving Average Cross, which combines both elements, providing stronger signals and making it easier to follow the market.
Fibonacci Extension Strt StrategyCore Logic and Steps:
Weekly Trend Identification:
Find the last significant Higher High (HH) and Lower Low (LL) or vice-versa on the Weekly timeframe.
Determine if it's an uptrend (HH followed by LL) or a downtrend (LL followed by HH).
Plot a Fibonacci Extension (or Retracement in reverse order) from the swing point determined to the other significant swing point.
Weekly Retracement Levels:
Display horizontal lines at the 0.236, 0.382, and 0.5 Fibonacci levels from the weekly extension.
Monitor price action on these levels.
Daily Confirmation:
When price hits the Fib levels, examine the Daily chart.
Look for a rejection wick (indicating the pull back is ending) on the identified weekly retracement levels.
Confirm that the price is indeed starting to continue in the direction of the original weekly trend.
Four-Hour Entry:
On the 4H timeframe, plot a new Fib Extension in the opposite direction of the weekly.
If it's an uptrend, the Fib is plotted from last swing low to its swing high. If the weekly trend was bearish the Fib will be plotted from last swing high to the swing low.
Generate an entry when price breaks the high of that candle.
Trade Management:
Entry is on the breakout of the current candle.
Stop Loss: Place the stop loss below the wick of the breakout candle.
Take Profit 1: Close 50% of the position at the 0.5 Fibonacci level. Move the stop loss to breakeven on this position.
Take Profit 2: Close another 25% of the position at the 0.236 Fib level.
Trailing Take Profit: Keep the last 25% open, using a trailing stop loss. (You'll need to define the logic for the trailing stop, e.g., trailing stop using the last high/low)
How to Use in TradingView:
Open a TradingView Chart.
Click on "Pine Editor" at the bottom.
Copy and paste the corrected Pine Script code.
Click "Add to Chart".
The indicator should now be displayed on your chart.
3 Candle AlertThis is a test for integration using a webhook. I am publishing it so I can share it. Ultimately, this is what we want to do:
1. Trade Entry Rules:
Wait until at least the 3rd bar of the day (15 minutes after market open) before entering the first trade.
Order of Priority for Entry:
Look for two consecutive volume bars of the same color (the second bar must have higher volume than the first).
Look for a “price push” beyond the high or low of the day (as determined in the first 15 minutes).
2. Trading Direction:
If the volume bars are RED, I take a Long Position.
If the volume bars are GREEN, I take a Short Position.
ENIGMA Signals with Retests Select higher Time FrameENIGMA Signals with Retests – Script Description
The "ENIGMA Signals with Retests" script is a unique indicator designed for traders who prefer precision trading based on price action retests of key levels derived from higher timeframes. This tool is ideal for those employing multi-timeframe analysis strategies, helping them detect high-probability trade entries when the price interacts with significant support and resistance levels.
What Does This Script Do?
This indicator identifies key levels from a higher timeframe selected by the user (e.g., 4-hour or daily), then tracks price action on lower timeframes to provide actionable buy and sell signals when the price retests these levels. It visually plots the key levels on the chart and triggers alerts for potential trade opportunities when conditions are met.
How It Works
Key Level Detection:
The script uses custom functions to detect recent swing highs and swing lows on the selected higher timeframe (such as 4H or Daily). These levels represent potential areas of support and resistance where price reactions are likely to occur.
Multi-Timeframe Analysis:
The indicator leverages the request.security() function to retrieve price data from the user-defined higher timeframe and plots horizontal lines on the chart for the most recent swing highs and lows.
Retest-Based Signals:
Once the key levels are plotted, the script continuously monitors the price on the lower timeframe:
A Buy Signal is triggered when the price closes below a key high level and then moves back above it, indicating a potential bullish retest.
A Sell Signal is triggered when the price closes above a key low level and then moves back below it, indicating a potential bearish retest.
These retest signals are displayed as green and red arrows on the chart, helping traders identify optimal entry points.
Alerts for Retests:
The script includes built-in alert conditions that notify traders when a valid retest signal occurs. This allows traders to react promptly without constantly monitoring the chart.
How to Use the Script
Select Your Key Timeframe:
From the input settings, choose a higher timeframe that suits your trading style (e.g., 4H for intraday trading or Daily for swing trading).
Adjust Visual Preferences:
Customize the line style (solid, dashed, or dotted) and length of the plotted levels.
Toggle labels for the levels on or off as per your preference.
Trade Execution:
Once a retest signal appears on the lower timeframe, consider entering a trade in the direction of the signal. The buy signal suggests a potential long entry, while the sell signal indicates a potential short entry.
Set Alerts:
Use the alert conditions provided to get notified whenever a valid retest occurs. This helps in reducing screen time and improving trading efficiency.
Underlying Concepts
This script is grounded in the principles of support and resistance, retests, and breakout trading. By focusing on multi-timeframe key levels, it aligns with widely used trading concepts like:
Breakout and Retest: Entering trades after a confirmed breakout and successful retest of a significant level.
Swing Highs and Lows: Recognizing swing points to identify strong price reaction zones.
Multi-Timeframe Confluence: Enhancing trade probability by ensuring that the signals on lower timeframes correspond with key levels from higher timeframes.
Why This Script Is Unique
Unlike many generic trend-following or scalping indicators, "ENIGMA Signals with Retests" offers:
Precision Signals: It only provides signals when specific retest conditions are met, reducing false signals and noise.
Multi-Timeframe Customization: Users can tailor the higher timeframe to their strategy, making it versatile for various trading styles.
Alert Functionality: Alerts are integrated, allowing traders to stay updated without constantly monitoring the charts.
This script is perfect for traders looking for a systematic way to trade retests of key levels across multiple timeframes. Whether you're a scalper, day trader, or swing trader, "ENIGMA Signals with Retests" can help improve your precision and timing in the market.
4H CRT (1AM and 5AM)This TradingView script is designed to assist traders in implementing the "4-Hour Candle Ranges Theory Strategy (CRT)" by identifying key levels and setups based on the 1am and 4am (5am) 4-hour candles. This strategy is particularly effective for trading high-volatility assets such as Gold, EUR/USD, NAS100, US30, and S&P500, with US30 showing a notably high win rate. Here's how the strategy works:
Key Features:
1. Marking 1am and 4am 4-Hour Candle Ranges
- The script highlights the high and low of the 1am 4-hour candle.
- It visually tracks whether the high or low of the 1am candle is taken out by the subsequent 4-hour candle (5am).
2. Entry Setup Rules
- Primary Setup: Wait for the high or low of the 1am candle to be taken out by the 5am candle. Once this sweep occurs, wait for a Market Structure Shift (MSS) on the lower time frame (15min) to confirm your entry.
- Secondary Setup: If the 5am candle fails to take out the high or low of the 1am candle, the setup focuses on the levels formed by the 5am candle.
3. Trade Execution on 15-Minute Timeframe
- The script supports a lower time frame (15min) view to identify MSS and fine-tune entries.
4. Rinse and Repeat
- This process can be applied daily for consistent opportunities across the specified assets.
Advantages:
- Provides clear visual markers for key levels based on the 4-hour candles.
- Automates level plotting, saving traders time and reducing manual errors.
- Integrates well with the 15-minute timeframe for precise entry triggers.
- Optimized for popular trading instruments, especially US30 for a higher probability of success.
This script simplifies the application of CRT by automating the process of identifying and marking critical levels, enabling traders to focus on executing high-probability setups effectively.
Created by Hamid (poraymanfx)
Dabel MS + FVGThis script is designed to assist traders by identifying market structures, imbalances, and potential trade opportunities using Break of Structure (BOS) and Market Structure Shifts (MSS). It visually highlights imbalances in price action, key pivots, and market structure changes, providing actionable information for making trading decisions.
Key features:
Imbalances Detection: Highlights bullish and bearish price gaps (Fair Value Gaps) using colored boxes. Users can choose the line style (solid, dashed, or dotted) for imbalance midlines.
Market Structure Analysis: Tracks pivot highs and lows to identify BOS and MSS in two separate market structures with adjustable pivot strengths.
Customizable Visualization: Allows users to choose line styles, colors, and display options for both imbalances and market structures.
Alerts: Alerts traders when BOS or MSS occur, helping to monitor the market effectively.
Trading Strategy
Imbalance Trading:
Imbalances (gaps) represent areas where supply or demand was left unfilled. These gaps often act as magnet zones where the price revisits to fill.
Bullish Imbalance: Look for buying opportunities when price enters a green imbalance zone.
Bearish Imbalance: Look for selling opportunities when price enters a red imbalance zone.
Use the midline of the imbalance box as a key reference point for potential reversals.
Break of Structure (BOS) and Market Structure Shift (MSS):
BOS: Indicates a continuation of the existing trend. For example:
Bullish BOS: Look for continuation in the uptrend after a high is broken.
Bearish BOS: Look for continuation in the downtrend after a low is broken.
MSS: Suggests a potential reversal in market structure. For example:
Bullish MSS: Indicates a possible shift from a bearish to bullish market.
Bearish MSS: Indicates a potential shift from a bullish to bearish market.
Multiple Market Structures:
This script provide two sets of market structures, allowing traders to compare short-term and long-term trends.
Adjust the pivot strength to suit your trading style (lower for intraday trading, higher for swing or positional trading).
Entry and Exit:
Entry: Look for entries near imbalances or after confirmed BOS/MSS in line with the overall trend.
Exit: Place stop-loss below/above recent pivots and take profit at nearby support/resistance or imbalance zones.
For New Traders
Focus on Basics: Understand what BOS and MSS mean and how they signal trend direction or reversals.
Use Alerts: Rely on the script's alert system to catch important moments without staring at charts all day.
Start Small: Test this strategy on a demo account before using it live. You can understand it more with practice.
Range Channel by Atilla YurtsevenThis script creates a dynamic channel around a user-selected moving average (MA). It calculates the relative difference between price and the MA, then finds the average of the positive differences and the negative differences separately. Using these averages, it plots upper and lower bands around the MA as well as a histogram-like oscillator to show when price moves above or below the average thresholds.
How It Works
Moving Average Selection
The indicator allows you to choose among multiple MA types (SMA, EMA, WMA, Linear Regression, etc.). Depending on your preference, it calculates the chosen MA for the selected lookback period.
Relative Difference Calculation
It then computes the percentage difference between the source (typically the closing price) and the MA. (diff = (src / ma - 1) * 100)
Positive & Negative Averages
- Positive differences are averaged and represent how far the price typically moves above the MA.
- Negative differences are similarly averaged for when price moves below the MA.
Range Channel & Oscillator
- The channel is plotted around the MA using the average positive and negative differences (Upper Edge and Lower Edge).
- The “Untrended” histogram plots the difference (diff). Green bars occur when price is above the MA on average, and red bars when below. Two additional lines mark the upper and lower average thresholds on this histogram.
How to Use
Identify Overbought/Oversold Zones: The upper edge can serve as a dynamic overbought level, while the lower edge can suggest potential oversold conditions. When the histogram approaches or crosses these levels, it may signal price extremes relative to its average movement.
Trend Confirmation: Compare price action relative to the channel. If price and the histogram consistently remain above the MA and upper threshold, it could indicate a stronger bullish trend. If they remain below, it might signal a prolonged bearish trend.
Entry/Exit Timings:
- Entry: Traders can look for moments when price breaks back inside the channel from an extreme, anticipating a mean reversion.
- Exit: Watching how price interacts with these dynamic edges can help define stop-loss or take-profit points.
Because these thresholds adapt over time based on actual price behavior, they can be more responsive than fixed-percentage bands. However, like all indicators, it’s most effective when used in conjunction with other technical and fundamental tools.
Disclaimer
This script is provided for educational and informational purposes only. It does not guarantee any specific outcome or profit. Use it at your own discretion and risk.
Trade smart, stay safe.
Atilla Yurtseven
Pattern Pro VPOCSummary:
This indicator combines multi-timeframe pattern detection (triangles and wedges), Volume Point of Control (VPOC) visualization, predictive volume modeling, and a swing-based VWAP. It provides traders with a detailed view of key trading patterns, high-volume levels, and entry/exit opportunities, all integrated into one powerful tool.
How This Script is Unique:
Multi-Timeframe Pattern Analysis:
Identifies chart patterns like triangles and wedges across multiple timeframes, enhancing the trader's ability to spot actionable opportunities.
Dynamically tracks pivot points and projected trendlines to visualize ongoing and potential patterns.
Volume Point of Control (VPOC):
Automatically calculates and plots the VPOC for detected patterns, highlighting the price level with the highest traded volume.
Helps identify strong support/resistance levels within patterns.
Predictive Volume Modeling:
Predicts high-volume trading times based on historical averages, allowing traders to anticipate periods of increased market activity.
Bars are color-coded to reflect projected volume activity.
Swing-Based VWAP:
Incorporates swing highs and lows into VWAP calculations, making it adaptive to current market conditions.
Offers a more dynamic view compared to traditional static VWAP indicators.
Trade Management Features:
Visualizes stop-loss (SL) and take-profit (TP) levels directly on the chart.
Tracks active trades and peak performance, enabling effective trade management.
Customizability:
Offers user-defined settings for timeframe selection, risk management, and volume modeling, making it adaptable to various trading strategies.
How to Use:
Pattern Detection:
The script automatically identifies triangle and wedge patterns. No manual input is needed for detection.
Patterns are displayed with top and bottom trendlines and the associated VPOC.
Volume Modeling:
Enable "Use Predictive Volume" under the Predictive Volume settings to highlight periods of projected high activity.
Customize the moving average period and date range for better precision.
Swing-Based VWAP:
Enable "Use VWAP" and configure the anchor period to suit your trading timeframe (e.g., Session, Week, Month).
The VWAP adapts dynamically to swings for precise insights.
Risk Management:
Adjust initial risk, multiplier, and drawdown limits under Risk Management settings.
Visual SL and TP boxes make it easy to monitor trade progress.
Alerts:
Enable "Pattern Alert" to receive notifications for detected patterns.
Use "Trade Alert" to get notified of potential entry opportunities.
Custom Inputs:
Customize "Lookback Bars for VPOC" to define how far back the indicator searches for volume data.
Modify "Row Size" and "POC Settings" for precise VPOC plotting.
Related Links:
Swing-Based VWAP
Intraday Predictive High-Volume Activity Sessions
Trade Settings:
Pattern Timeframe Input:
Select the timeframe used for detecting patterns (e.g., Chart, 15m, 1H).
Use: Helps identify patterns specific to the selected timeframe.
Bars to Entry:
Defines the number of bars within which a trade should be entered after a pattern is detected.
Use: Ensures timely entries based on identified patterns.
Plot Peak Profit:
Toggles the visualization of the peak profit level for trades.
Use: Helps monitor the maximum potential profit from a trade.
Use Close of Candle Above/Below Top/Bottom Line:
When enabled, the script uses the close of the candle instead of wicks to determine line breakouts.
Use: Ensures more precise break detection for pattern confirmation.
Pattern VPOC Settings:
Lookback Bars for VPOC:
Specifies the number of bars to analyze for calculating the Volume Point of Control (VPOC).
Use: Adjusts the depth of data analyzed for VPOC determination.
Row Size:
Determines the granularity of VPOC calculations. Higher values result in finer divisions.
Use: Fine-tune VPOC plotting for greater precision.
Pattern VPOC Color:
Sets the color of the VPOC line on the chart.
Use: Customize chart aesthetics for better visibility.
Width:
Adjusts the thickness of the VPOC line.
Use: Makes the line more prominent on the chart.
Risk Management:
Initial Risk:
Specifies the base risk amount for each trade.
Use: Helps determine the trade size based on risk tolerance.
Risk Increment Type:
Selects whether risk increments are linear or exponential after consecutive losses.
Use: Adjusts risk dynamically to manage losses effectively.
Multiplier:
Multiplies the risk in exponential mode to calculate the next risk value after a loss.
Use: Defines the growth factor for exponential risk.
Max Drawdown:
Sets the maximum drawdown value before halting trading.
Use: Protects against significant capital depletion.
Initial Capital:
Specifies the starting capital for performance calculations.
Use: Helps measure performance and calculate drawdown percentages.
Alert Settings:
Trade Alert:
Enables alerts for detected trade setups.
Use: Keeps the user notified about potential trade opportunities.
Pattern Alert:
Enables alerts for detected patterns.
Use: Provides immediate notification when a pattern is identified.
Predictive Volume:
Use Predictive Volume:
Toggles the predictive volume modeling feature.
Use: Highlights projected high-volume periods for better timing.
Select Timeframe for Predictive Volume:
Defines the timeframe for predictive volume analysis.
Use: Allows predictive modeling to align with the user's trading style.
MA Average Periods:
Sets the moving average length for volume prediction.
Use: Smoother or more responsive predictive models based on user preference.
Date Range:
Specifies the historical range used for volume analysis.
Use: Limits the scope of volume data for calculations.
VWAP Settings:
Use VWAP:
Toggles the VWAP calculation and plotting.
Use: Tracks the average price weighted by volume to find key price levels.
Hide VWAP on 1D or Above:
Hides VWAP plots on daily or higher timeframes.
Use: Avoids clutter on charts with higher timeframes.
Anchor Period:
Sets the anchor period for VWAP calculation (e.g., Session, Week, Month).
Use: Aligns VWAP with the selected timeframe.
Source:
Defines the price source for VWAP calculation (default: hlc3).
Use: Adjusts VWAP based on the preferred price type.
Offset:
Adjusts the VWAP line's placement by the specified number of bars.
Use: Moves the VWAP line forward or backward for better visual alignment.
Swing Size:
Defines the sensitivity for detecting swing highs and lows in VWAP calculations.
Use: Refines VWAP calculations to match market swings.
Smart DCA Strategy (Public)INSPIRATION
While Dollar Cost Averaging (DCA) is a popular and stress-free investment approach, I noticed an opportunity for enhancement. Standard DCA involves buying consistently, regardless of market conditions, which can sometimes mean missing out on optimal investment opportunities. This led me to develop the Smart DCA Strategy – a 'set and forget' method like traditional DCA, but with an intelligent twist to boost its effectiveness.
The goal was to build something more profitable than a standard DCA strategy so it was equally important that this indicator could backtest its own results in an A/B test manner against the regular DCA strategy.
WHY IS IT SMART?
The key to this strategy is its dynamic approach: buying aggressively when the market shows signs of being oversold, and sitting on the sidelines when it's not. This approach aims to optimize entry points, enhancing the potential for better returns while maintaining the simplicity and low stress of DCA.
WHAT THIS STRATEGY IS, AND IS NOT
This is an investment style strategy. It is designed to improve upon the common standard DCA investment strategy. It is therefore NOT a day trading strategy. Feel free to experiment with various timeframes, but it was designed to be used on a daily timeframe and that's how I recommend it to be used.
You may also go months without any buy signals during bull markets, but remember that is exactly the point of the strategy - to keep your buying power on the sidelines until the markets have significantly pulled back. You need to be patient and trust in the historical backtesting you have performed.
HOW IT WORKS
The Smart DCA Strategy leverages a creative approach to using Moving Averages to identify the most opportune moments to buy. A trigger occurs when a daily candle, in its entirety including the high wick, closes below the threshold line or box plotted on the chart. The indicator is designed to facilitate both backtesting and live trading.
HOW TO USE
Settings:
The input parameters for tuning have been intentionally simplified in an effort to prevent users falling into the overfitting trap.
The main control is the Buying strictness scale setting. Setting this to a lower value will provide more buying days (less strict) while higher values mean less buying days (more strict). In my testing I've found level 9 to provide good all round results.
Validation days is a setting to prevent triggering entries until the asset has spent a given number of days (candles) in the overbought state. Increasing this makes entries stricter. I've found 0 to give the best results across most assets.
In the backtest settings you can also configure how much to buy for each day an entry triggers. Blind buy size is the amount you would buy every day in a standard DCA strategy. Smart buy size is the amount you would buy each day a Smart DCA entry is triggered.
You can also experiment with backtesting your strategy over different historical datasets by using the Start date and End date settings. The results table will not calculate for any trades outside what you've set in the date range settings.
Backtesting:
When backtesting you should use the results table on the top right to tune and optimise the results of your strategy. As with all backtests, be careful to avoid overfitting the parameters. It's better to have a setup which works well across many currencies and historical periods than a setup which is excellent on one dataset but bad on most others. This gives a much higher probability that it will be effective when you move to live trading.
The results table provides a clear visual representation as to which strategy, standard or smart, is more profitable for the given dataset. You will notice the columns are dynamically coloured red and green. Their colour changes based on which strategy is more profitable in the A/B style backtest - green wins, red loses. The key metrics to focus on are GOA (Gain on Account) and Avg Cost.
Live Trading:
After you've finished backtesting you can proceed with configuring your alerts for live trading.
But first, you need to estimate the amount you should buy on each Smart DCA entry. We can use the Total invested row in the results table to calculate this. Assuming we're looking to trade on
BTCUSD
Decide how much USD you would spend each day to buy BTC if you were using a standard DCA strategy. Lets say that is $5 per day
Enter that USD amount in the Blind buy size settings box
Check the Blind Buy column in the results table. If we set the backtest date range to the last 10 years, we would expect the amount spent on blind buys over 10 years to be $18,250 given $5 each day
Next we need to tweak the value of the Smart buy size parameter in setting to get it as close as we can to the Total Invested amount for Blind Buy
By following this approach it means we will invest roughly the same amount into our Smart DCA strategy as we would have into a standard DCA strategy over any given time period.
After you have calculated the Smart buy size, you can go ahead and set up alerts on Smart DCA buy triggers.
BOT AUTOMATION
In an effort to maintain the 'set and forget' stress-free benefits of a standard DCA strategy, I have set my personal Smart DCA Strategy up to be automated. The bot runs on AWS and I have a fully functional project for the bot on my GitHub account. Just reach out if you would like me to point you towards it. You can also hook this into any other 3rd party trade automation system of your choice using the pre-configured alerts within the indicator.
PLANNED FUTURE DEVELOPMENTS
Currently this is purely an accumulation strategy. It does not have any sell signals right now but I have ideas on how I will build upon it to incorporate an algorithm for selling. The strategy should gradually offload profits in bull markets which generates more USD which gives more buying power to rinse and repeat the same process in the next cycle only with a bigger starting capital. Watch this space!
MARKETS
Crypto:
This strategy has been specifically built to work on the crypto markets. It has been developed, backtested and tuned against crypto markets and I personally only run it on crypto markets to accumulate more of the coins I believe in for the long term. In the section below I will provide some backtest results from some of the top crypto assets.
Stocks:
I've found it is generally more profitable than a standard DCA strategy on the majority of stocks, however the results proved to be a lot more impressive on crypto. This is mainly due to the volatility and cycles found in crypto markets. The strategy makes its profits from capitalising on pullbacks in price. Good stocks on the other hand tend to move up and to the right with less significant pullbacks, therefore giving this strategy less opportunity to flourish.
Forex:
As this is an accumulation style investment strategy, I do not recommend that you use it to trade Forex.
For more info about this strategy including backtest results, please see the full description on the invite only version of this strategy named "Smart DCA Strategy"
Gauti Market Maker Killzone EMA1. Identifying the Trend
Use Daily (1D) and Hourly (1H) Exponential Moving Averages (EMAs) to define the overall trend:
Bullish Trend: Both 1D and 1H EMAs are upward sloping, and the price is above these EMAs.
Bearish Trend: Both 1D and 1H EMAs are downward sloping, and the price is below these EMAs.
2. Confirmation with Higher Timeframes
Bullish Conditions:
Check 1D and 4H charts for price action above the EMA bands.
Look for price forming higher highs and higher lows or respecting support at the EMA bands.
Bearish Conditions:
Check 1D and 4H charts for price action below the EMA bands.
Look for price forming lower highs and lower lows or respecting resistance at the EMA bands.
Note: Crossover of EMAs on higher timeframes is an optional extra confirmation, but not mandatory for entry.
3. Entry Strategy
Use the 15-Minute (15M) timeframe for entries.
Entries are taken only during Killzones:
Killzones: London Open, New York Open, or other intraday key trading sessions. (Define the time ranges for these zones based on your trading hours.)
Wait for the price to touch or pull back to the EMA band during the Killzones in the direction of the overall trend:
In a bullish trend, enter long when the price touches the EMA band and shows signs of rejection or reversal.
In a bearish trend, enter short when the price touches the EMA band and shows signs of rejection or reversal.
4. Checklist for Entry
Confirm the following before entering:
1D Trend aligns with the 1H Trend.
Price Action in 1D and 4H supports the trend.
Killzone session is active.
Price is reacting to the EMA band on the 15M chart in the trend direction.
Rejection Candle DetectorUsing the Rejection Candle Detector with Order Blocks
Plotting Order Blocks:
Identify Key Levels: Begin by identifying key levels on the chart where large buying or selling activity has taken place. These areas are often referred to as order blocks.
Draw the Blocks: Use horizontal lines or rectangular zones to mark these order blocks on your chart. These levels will act as potential support or resistance areas where price is likely to react.
Setting Up the Rejection Candle Detector:
Apply the Indicator: Add the Rejection Candle Detector to your TradingView chart.
Customize Settings: Adjust the look-back period, label colors, and transparency according to your preferences.
Monitoring Price Action:
Wait for Price to Reach an Order Block: Monitor the chart for when the price approaches one of your predefined order blocks.
Look for Rejection Candles: The Rejection Candle Detector will help you identify rejection candlestick patterns within the look-back period (default is 10 bars).
Entry Decision:
Confirm Rejection: Once the price touches an order block and a rejection candle is detected by the indicator, this could signal a potential entry point. Rejection candles indicate that the price tried to move past the order block but was pushed back, showing strong resistance or support at that level.
Align with Your Analysis: Ensure that the detected rejection candle aligns with your overall trading analysis and strategy. Consider other factors such as trend direction, volume, and market conditions before making an entry.
Managing the Trade:
Set Stop Loss: Place a stop loss just beyond the order block to manage your risk in case the price breaks through the level.
Target Levels: Define your target levels for taking profit based on the next significant support or resistance levels on the chart.
Monitor and Adjust: Continue to monitor the trade and adjust your stop loss or take profit levels as needed based on price action and market conditions.
Example Scenario:
Order Block: You identify an order block at the $50 level on your chart, marking it as a potential support zone.
Price Reaction: Price approaches and tests the $50 level.
Rejection Candle: The Rejection Candle Detector spots a hammer candlestick (a bullish rejection pattern) forming right at the $50 level.
Entry Point: You decide to enter a long trade at the close of the hammer candle, setting your stop loss just below the $50 level.
Trade Management: Set your target at the next resistance level, say $55, and monitor the trade, adjusting as necessary...
Lot Size & Risk Calculator (All Pairs)this indicator is designed to simplify and optimize risk management. It automatically calculates the ideal lot size based on your account balance, risk percentage, and defined entry and exit levels. Additionally, it includes visual tools to represent stop-loss (SL) and take-profit (TP) levels, helping you trade with precision and consistency.
WHAT IS THIS INDICATOR FOR?
This indicator is essential for traders who want to:
Maintain consistent risk in their trades.
Quickly calculate lot sizes for Forex, XAUUSD, BTCUSD, and US100.
Visualize key levels (Entry, SL, and TP) on the chart.
Monitor potential losses and gains in real time.
COMPATIBLE ASSETS
The Lot Size Calculator works with the following assets:
Forex: Standard currency pairs.
XAUUSD: Gold versus the US dollar.
BTCUSD: Bitcoin versus the US dollar.
US100: Nasdaq 100 index.
Calculations adjust automatically based on the selected asset.
TAKE-PROFIT (TP) LEVELS
The indicator allows you to define up to three take-profit levels:
TP1
TP2
TP3
.
Each level is configurable based on your exit strategy.
DASHBOARD
The dashboard is a visual tool that consolidates key information about your trade:
Account balance: Total amount available in your account.
Lot size: Calculated based on your risk and parameters.
Potential loss (SL): Amount you could lose if the price hits your stop-loss.
Potential gain (TP): Expected profit if the take-profit level is reached.
SETTINGS
The indicator offers multiple configurable options to adapt to your trading style:
Levels
Entry: Initial trade price.
Stop-Loss (SL): Maximum allowed loss level.
Take-Profit (TP): Up to three configurable levels.
Risk Management
Account balance ($): Enter your total available balance.
Risk percentage: Define how much you're willing to risk per trade
.
Visual Options
Visualization style: Choose between simple lines or visual fills.
Colors: Customize the colors of lines and labels.
Dashboard Settings
Statistics: Enable or disable key data display.
Size and position: Adjust the dashboard's size and location on the chart.
HOW TO CHANGE AN ENTRY?
Open the indicator settings in TradingView and entering the new data manually
Removing and re-adding the indicator to the chart
Scalp System# Scalp System
A premium scalping system designed specifically for 2-minute charts, combining multiple timeframe analysis with trend-based trading decisions. This indicator helps identify high-probability scalping opportunities through color-coded moving averages and their crossovers.
## Strategy Overview
### Entry Signals
- ONLY trade LONG when price is above RED line
- ONLY trade SHORT when price is below RED line
- Primary entry: BLUE/GREEN crosses
- Strong trend confirmation: YELLOW/PURPLE crosses
### Best Practices
1. Trade with the trend (follow RED line direction)
2. Wait for price pullbacks of faster lines
3. Combine crosses with support/resistance levels
4. Use smaller targets
5. Quick exits on failed breakouts
6. Monitor volume for confirmation
### Color Guide
- YELLOW: Fast trend identifier
- BLUE: Very short-term momentum (1min)
- GREEN: Short-term momentum (3min)
- RED: Trend filter
- PURPLE: Strong trend baseline
### Risk Management
- Place stops beyond the RED line
- Scale out at key levels
- Use 1:1.5 minimum risk/reward
- Avoid trading during major news
- Reduce position size in choppy markets
### Best Trading Hours
- Most effective during first 2 hours after market open
- Good opportunities during power hour (last hour)
- Avoid lunch hour chop (11:30-1:30 EST)
## Tips
- Less is more - wait for clean setups
- Respect the RED line as your trend filter
- Multiple timeframe confirmation increases success rate
- Use crosses as triggers, not absolute signals
- Practice in simulator before live trading
Easy CotHow to Use the Commitment of Traders (COT) Report for Market Analysis
The Commitment of Traders (COT) report is a weekly publication by the Commodity Futures Trading Commission (CFTC) that breaks down the open interest in various futures markets. It categorizes traders into three main groups: Commercials, Non-Commercials, and Retail Traders (Non-Reportable positions). Understanding and analyzing the COT report can provide insights into market sentiment and potential reversals, especially in commodity, currency, and stock index futures.
Key Components of the COT Report
Commercials (Hedgers)
These are entities involved in the production or consumption of the underlying asset. For example, oil producers might hedge by selling oil futures to lock in prices, while airlines might buy futures to hedge against rising prices.
Commercials typically act as hedgers, so their positions can indicate the need for protection rather than speculative intent. Because they are less price-sensitive, their positions are usually opposite to the trend near market reversals.
Non-Commercials (Large Speculators)
This group includes hedge funds, asset managers, and large traders who take speculative positions to profit from price movements.
Non-Commercials are often trend-followers, meaning they increase long positions in an uptrend and short positions in a downtrend. When Non-Commercials become extremely bullish or bearish, it may signal a potential market reversal.
Retail Traders (Non-Reportable Positions)
These are smaller individual traders whose positions are too small to be reported individually.
Retail traders tend to be less experienced and are often on the wrong side of major market moves, so extreme positions by retail traders can sometimes signal a market turning point.
How to Interpret the COT Data
1. Identify Extreme Positions
Extreme Long or Short Positions: When a group reaches a historically extreme level of long or short positions, it often signals a potential reversal. For instance, if Non-Commercials are overwhelmingly long, it may indicate that the uptrend is overextended, and a reversal could be near.
Contrarian Indicator: Since Retail Traders are often on the wrong side, you may look for signals where they are extremely long or short, indicating a possible reversal in the opposite direction.
2. Look for Divergences
Divergence Between Groups: If Non-Commercials (speculators) and Retail Traders are moving in opposite directions, it could indicate that a trend is losing momentum and a reversal is possible.
Commercials vs. Non-Commercials: Commercials are often positioned opposite to Non-Commercials. If there’s a divergence where Non-Commercials are highly bullish, but Commercials are increasingly bearish, it might suggest a coming reversal.
3. Trend Confirmation and Reversal Signals
Trend Confirmation: If both Non-Commercials and Retail Traders are aligned in one direction, it might confirm the trend. However, keep in mind that such alignment may signal the later stages of a trend.
Reversal Signals: Look for signs when Non-Commercials are reaching a peak in one direction while Retail Traders peak in the opposite. Such situations can often indicate that the current trend is close to exhaustion.
Using the COT Report in Trading Strategies
Contrarian Trading Strategy
Extreme Positions as Reversal Signals: Use COT data to identify extreme positions. For instance, if Non-Commercials have a very high long position in a commodity, it might suggest that a bullish trend is overextended and a bearish reversal could be near.
Retail Trader Extremes: If Retail Traders are heavily long or short, consider taking the opposite position once you have additional confirmation signals (e.g., technical indicators).
Following the Trend with Large Speculators
Non-Commercials tend to be trend-followers, so if you see them increasingly long (or short) on an asset, it could be a signal to follow the trend until extreme levels are reached.
Using Divergences for Entry and Exit Points
Entry: If Non-Commercials are long, but Retail Traders are heavily short, consider entering a long position as it may confirm the trend.
Exit: If Non-Commercials begin to reduce their positions while Retail Traders increase theirs, it might be time to consider exiting, as the trend could be losing momentum.
VOLUME DIRECTION INDICATORDesigned for the 1-hour chart, this indicator shows:
Green Line: Volume when price rises, suggesting buying.
Red Line: Volume when price falls, indicating selling.
How to Use:
Watch for Crossover: When the Green Line moves above the Red, it might signal a budding uptrend.
Check Retracement: If the Green Line pulls back but stays above the Red, the uptrend could be strengthening.
Price Check: Look for a small price drop but not a reversal.
Trade Entry:
Enter at the high of the retracement candle.
Or wait for the Green Line to rise again.
For Precision: Draw a line at the retracement peak and switch to a shorter timeframe to find entry patterns above this line.
Remember: Use this with other tools for better trading decisions.
The Volume Direction Indicator provides a visual representation of market activity by assuming volume can be attributed to buying or selling based on price action within each bar. When the price closes higher than it opened, the volume for that period is considered as 'Bought Shares', plotted in green. Conversely, if the price closes lower, the volume is treated as 'Sold Shares', shown in red. This indicator resets daily to give a fresh perspective on trading activity each day.
Key Features:
Buying Pressure: Green line represents the cumulative volume during periods where the price increased.
Selling Pressure: Red line indicates the cumulative volume during price decreases.
Daily Reset: Accumulated values reset at the start of each new trading day, focusing on daily market sentiment.
Note: This indicator simplifies market dynamics by linking volume directly to price changes. It does not account for complex trading scenarios like short selling or market manipulations. Use this indicator as a tool to gauge general market direction and activity, not for precise transaction data.
Confluence StrategyOverview of Confluence Strategy
The Confluence Strategy in trading refers to the combination of multiple technical indicators, support/resistance levels, and chart patterns to identify high-probability trading opportunities. The idea is that when several indicators agree on a price movement, the likelihood of that movement being successful increases.
Key Components
Technical Indicators:
Moving Averages (MA): Commonly used to determine the trend direction. Look for crossovers (e.g., the 50-day MA crossing above the 200-day MA).
Relative Strength Index (RSI): Helps identify overbought or oversold conditions. A reading above 70 may indicate overbought conditions, while below 30 suggests oversold.
MACD (Moving Average Convergence Divergence): Useful for spotting changes in momentum. Look for MACD crossovers and divergence from price.
Support and Resistance Levels:
Identify key levels where price has historically reversed. These can be drawn from previous highs/lows, Fibonacci retracement levels, or psychological price levels.
Chart Patterns:
Patterns like head and shoulders, double tops/bottoms, or flags can indicate potential reversals or continuations in price.
Strategy Implementation
Set Up Your Chart:
Add the desired indicators (e.g., MA, RSI, MACD) to your TradingView chart.
Mark significant support and resistance levels.
Identify Confluence Points:
Look for situations where multiple indicators align. For instance, if the price is near a support level, the RSI is below 30, and the MACD shows bullish divergence, this may signal a buying opportunity.
Entry and Exit Points:
Entry: Place a trade when your confluence conditions are met. Use limit orders for better prices.
Exit: Set profit targets based on resistance levels or use trailing stops. Consider the risk-reward ratio to ensure your trades are favorable.
Risk Management:
Always implement stop-loss orders to protect against unexpected market moves. Position size should reflect your risk tolerance.
Example of a Confluence Trade
Setup:
Price approaches a strong support level.
RSI shows oversold conditions (below 30).
The 50-day MA is about to cross above the 200-day MA (bullish crossover).
Action:
Enter a long position as the conditions align.
Set a stop loss just below the support level and a take profit at the next resistance level.
Conclusion
The Confluence Strategy can significantly enhance trading accuracy by ensuring that multiple indicators support a trade decision. Traders on TradingView can customize their indicators and charts to fit their personal trading styles, making it a flexible approach to technical analysis.
Hawk Algo ProHawk Pro Algo: The Ultimate Smart Money & Trend Detection Tool
Hawk Pro Algo is a powerful trading indicator designed to help traders track institutional money movements, detect trend reversals, and generate precise buy/sell signals. By leveraging advanced algorithms, volume analysis, divergence detection, and dynamic gradient features, Hawk Pro Algo gives you the edge needed to navigate both trending and ranging markets with confidence.
Smart Money Detection
Hawk Pro Algo goes beyond standard indicators by focusing on tracking the movements of smart money (large institutional trades). This feature identifies key moments when significant players are entering or exiting the market, enabling you to align your trades with those of the most influential market participants.
Institutional Buy Signals: These signals occur when strong upward momentum, backed by large institutional buying, is detected. It gives you a clear sign that the market is about to rally.
Institutional Sell Signals: On the flip side, sell signals are generated when institutional selling pressure emerges, allowing you to exit positions before a significant drop.
These signals ensure that you're trading in sync with the smart money, maximizing your opportunities for profitable trades.
Buy & Sell Signals: Multiple Entry/Exit Points
Hawk Pro Algo comes equipped with multiple layers of buy and sell signals, giving traders the flexibility to spot different types of trading opportunities:
1. Diamond Buy & Sell Signals
Buy Diamonds: A green diamond appears when a combination of bullish signals, such as a strong price pattern and institutional buying pressure, align. These are ideal for capturing market upswings after confirmation.
Sell Diamonds: A red diamond is plotted when bearish conditions take over. This is a clear indicator that institutional sellers are driving the market down, signaling an ideal moment to exit.
2. CCI Cross Signals
CCI Buy Signals: Triggered when the Commodity Channel Index (CCI) crosses above a certain threshold, indicating a shift in momentum to the upside. This is visualized with a green cross, signaling a strong entry opportunity.
CCI Sell Signals: Similarly, when the CCI crosses below a threshold, a red cross is plotted, signaling the momentum has shifted downward, and it’s time to consider exiting.
3. Circle Buy & Sell Signals
Buy Circles: A green circle appears when the market is ready to reverse from a downward trend, confirming a strong buying opportunity. This is often combined with oversold conditions in the CCI to further validate the entry.
Sell Circles: A red circle is shown when the market is ready to correct or reverse after an upward movement. It confirms an ideal exit point to lock in profits before the market pulls back.
4. Trigger Signals
Buy Triggers: Trigger signals indicate moments of market manipulation or sudden dips in price, where a reversal could be imminent. These signals suggest that the market could rally after a short-lived price drop.
Sell Triggers: These are moments where downward manipulation is detected, warning traders of a potential sell-off or correction after a price spike.
Gradient CCI Oscillator: Dynamic Trend Strength with Overbought and Oversold Detection
The Gradient CCI Oscillator is one of the most unique aspects of Hawk Pro Algo. It combines momentum detection with visual cues to show trend strength and potential reversal points. The CCI doesn’t just indicate regular overbought and oversold levels—it provides a dynamic gradient transition to help you gauge market momentum.
Overbought and Oversold Glow
Potential Reversals (Glow Signals)
When the market is reaching critical overbought or oversold levels, Hawk Pro Algo uses a pink glow on the CCI to signal potential reversals:
Pink Glow (Overbought): When the CCI turns pink, the market is nearing a potential reversal from overbought conditions. It suggests caution and may be a signal to prepare for a downturn.
Pink Glow (Oversold): Conversely, a pink glow in oversold conditions signals a potential upward reversal, providing an early warning to get ready for a bullish move.
Three CCI Color Logics: Momentum and Reversal Detection
Hawk Pro Algo features a three-step gradient system that helps you visualize trend strength and detect potential reversals. This tricolor CCI logic transitions smoothly between green, white, and red, giving traders a deeper understanding of market dynamics.
#1: Red → White → Green Transition (and vice versa)
Green: Indicates strong bullish momentum. The CCI turns green when the market is in a strong upward trend, especially after recovering from oversold levels.
White: Represents a neutral zone, showing that momentum is fading or in transition. When the CCI is between overbought and oversold levels, the indicator turns white, signaling indecision or a potential upcoming shift in trend.
Red: Indicates strong bearish momentum. The CCI turns red when the market is under selling pressure or in an overbought state, signaling potential weakness.
This color transition allows you to see when momentum is shifting from bullish to bearish (or vice versa) and helps you time your entries and exits with greater precision.
ETHUSDT.P 8H
#2: Flippable Gradient CCI
For added flexibility, Hawk Pro Algo allows you to flip the CCI gradient colors to suit your personal preference:
By default, the gradient transitions from green (bullish) to red (bearish).
By flipping the gradient, you can reverse this visualization, with red indicating bullish momentum and green signaling bearish conditions.
This feature ensures that the CCI display aligns with your individual trading style, providing a clearer picture of market conditions.
#3: Overbought/Oversold Color Logic
When the CCI crosses into overbought or oversold territory, the color transitions to help you stay on top of extreme market conditions:
Darker Red for overbought levels, helping you recognize when the market may be due for a reversal.
Deeper Green for oversold levels, signaling potential buying opportunities as the market reaches exhaustion.
These color shifts ensure that traders are visually alerted to key moments in the market, helping to avoid buying at the top or selling at the bottom.
Trigger Signals: Detecting Market Manipulation
The trigger signals in Hawk Pro Algo are designed to detect potential market manipulation—moments when artificial price moves occur before a larger trend shift. These signals help protect you from false breakouts or breakdowns.
Buy Triggers: These occur when the indicator detects potential upward manipulation, helping you prepare for a rally after a price dip.
Sell Triggers: Conversely, sell triggers indicate potential downward manipulation, alerting you to a possible sell-off after a price spike.
These signals act as early warnings, helping you avoid getting caught in manipulated price action and positioning you for better trade entries.
Divergence Detection: Pinpointing Reversals with real time Confidence
Hawk Pro Algo excels in divergence detection, identifying both regular and hidden divergences. Divergences occur when price action and the oscillator (CCI) are out of sync, signaling potential reversals.
Bullish Divergence: This occurs when the price is making lower lows, but the CCI is making higher lows. It suggests that downward momentum is weakening, and a reversal could be imminent. In this case, wait for the CCI to turn green to confirm that the bullish divergence is playing out before entering a trade.
Bearish Divergence: This happens when the price is making higher highs, but the CCI is making lower highs, signaling that upward momentum is weakening. Wait for the CCI to turn red to confirm that the bearish divergence is unfolding, and then consider entering a short trade.
By waiting for the CCI color to change (green for bullish divergence, red for bearish divergence), you ensure that the divergence is confirmed before taking action, leading to higher-confidence trades.
How It All Works Together
The combination of CCI color transitions, overbought/oversold detection, smart money signals, and trigger manipulations makes Hawk Pro Algo a comprehensive tool for traders of all skill levels:
Trend Strength: The CCI gradient provides instant visual feedback on the strength of the current trend, helping you gauge when to stay in a trade or prepare for a reversal.
Reversal Signals: The color-coded overbought/oversold signals help you spot key moments when the market may reverse, while divergence detection adds another layer of confidence to your entries.
Smart Money Flow: Follow the institutional money with precision buy/sell signals based on volume and trend strength, ensuring that you're aligned with
Cypher Harmonic Pattern [TradingFinder] Cypher Pattern Detector🔵 Introduction
The Cypher Pattern is one of the most accurate and advanced harmonic patterns, introduced by Darren Oglesbee. The Cypher pattern, utilizing Fibonacci ratios and geometric price analysis, helps traders identify price reversal points with high precision. This pattern consists of five key points (X, A, B, C, and D), each playing an important role in determining entry and exit points in the financial markets.
The reversal point typically occurs in the XD region, with the Fibonacci ratio ranging between 0.768 and 0.886. This zone is referred to as the Potential Reversal Zone (PRZ), where traders anticipate price changes to occur.
The Cypher harmonic pattern is popular among professional traders due to its high accuracy in identifying market trends and reversal points. The pattern appears in two forms: bullish Cypher pattern and bearish Cypher pattern.
In the bullish Cypher pattern, after a price correction, the price moves upward, while in the bearish Cypher pattern, the price moves downward after a temporary increase. These patterns help traders use technical analysis to identify strong reversal points in the PRZ and execute more optimal trades.
Bullish Cypher Pattern :
Bearish Cypher Pattern :
🔵 How to Use
The Cypher pattern is one of the most complex and precise harmonic patterns, leveraging Fibonacci ratios to help traders identify price reversals. This pattern is comprised of five key points, each playing a critical role in determining entry and exit points.
The Cypher pattern appears in two main types :
Bullish Cypher pattern : This pattern appears as an M shape on the chart and indicates a trend reversal to the upside after a price correction. Traders can prepare for buying after identifying this pattern in technical analysis.
Bearish Cypher pattern : This pattern appears as a W shape and signals the start of a downtrend after a temporary price increase. Traders can use this pattern to enter short positions.
🟣 How to Identify the Cypher Pattern on a Chart
Identifying the Cypher pattern requires precision and the use of advanced technical analysis tools. The pattern consists of four main legs, each identified using Fibonacci ratios and geometric analysis.
To spot the Cypher pattern on a chart, first, identify the five key points : X, A, B, C, and D.
XA leg : The initial move from point X to A.
AB leg : The first correction after the XA move, where the price moves to point B.
BC leg : After the correction, the price moves upwards to point C.
CD leg : The final price move that reaches point D, where a price reversal is expected.
In a bullish Cypher pattern, point D indicates the start of a new uptrend, while in a bearish Cypher pattern, point D signals the beginning of a downtrend. Correctly identifying these points helps traders determine the best time to enter a trade.
🟣 How to Trade Using the Cypher Pattern
Once the Cypher pattern is identified on the chart, traders can use it to set entry and exit points. Point D is the key point for trade entry. In the bullish Cypher pattern, the trader can enter a long position after point D forms, while in the bearish Cypher pattern, point D serves as the ideal point for entering a short position.
🟣 Entering a Buy Trade with the Bullish Cypher Pattern
In a bullish Cypher pattern, traders wait for the price to reach point D, after which they can enter a buy position. At this point, the price is expected to start rising.
🟣 Entering a Sell Trade with the Bearish Cypher Pattern
In a bearish Cypher pattern, the trader enters a sell position at point D, expecting the price to move downward after reaching this point. For additional confirmation, traders can use technical indicators such as RSI or MACD.
🟣 Risk Management in Cypher Pattern Trades
Risk management is one of the most critical aspects of any trade, and this holds true for trading the Cypher pattern. Traders should always use stop-loss orders to prevent larger losses in case the pattern fails.
In the bullish Cypher pattern, the stop-loss is usually placed slightly below point D to exit the trade if the price continues to drop.
In the bearish Cypher pattern, the stop-loss is placed above point D to limit losses if the price rises unexpectedly.
🟣 Combining the Cypher Pattern with Other Technical Tools
The Cypher pattern is a powerful tool in technical analysis, but combining it with other methods such as price action and technical indicators can improve trading accuracy.
🟣 Combining with Price Action
Traders can use price action to confirm the Cypher pattern. Candlestick patterns like reversal candlesticks can provide additional confirmation for price reversals at point D.
🟣 Using Technical Indicators
Incorporating technical indicators such as RSI and MACD can also help traders receive stronger signals for entering trades based on the Cypher pattern. These indicators help identify overbought or oversold conditions, allowing traders to make more informed decisions.
🟣 Advantages and Disadvantages of the Cypher Pattern in Technical Analysis
Advantages :
High accuracy : The Cypher pattern, using Fibonacci ratios and geometric analysis, provides high precision in identifying reversal points.
Applicable in various markets : This pattern can be used in a wide range of financial markets, including forex, stocks, and cryptocurrencies.
Disadvantages :
Rarit y: The Cypher pattern appears less frequently on charts compared to other harmonic patterns.
Complexity : Accurately identifying this pattern requires significant experience, which may be challenging for novice traders.
🔵 Setting
🟣 Logical Setting
ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition.
Show Valid Forma t: If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern.
Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk.
Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period.
🟣 Genaral Setting
Show : Enter "On" to display the template and "Off" to not display the template.
Color : Enter the desired color to draw the pattern in this parameter.
LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness.
LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries.
🟣 Alert Setting
Alert : On / Off
Message Frequency : This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone : The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
🔵 Conclusion
The Cypher harmonic pattern is one of the most powerful and accurate patterns used in technical analysis. Its high precision in identifying price reversal points, particularly within the Potential Reversal Zone (PRZ), has made it a popular tool among professional traders. The PRZ, located between the Fibonacci ratios of 0.768 and 0.886 in the XD region, offers traders a clear indication of where price reversals are likely to occur.
However, to use this pattern successfully, traders must employ proper risk management and combine it with supplementary tools like technical indicators and price action. By understanding how to utilize the PRZ, traders can enhance the accuracy of their trade entries and exits.
Ultimately, the Cypher pattern, when used in conjunction with the PRZ, helps traders make more precise decisions in the financial markets, leading to more successful and well-informed trades.
M & W Checklistindicator to Validate & Grade M & W Patterns.
Indicator Inputs
Table Color Palette
• Position Valid : Positions the Valid Trade table on the chart.
• Position Grade : Positions the Grade table on the chart, hover over the Column 1 Row 1 for a description of the bands.
• Size: Text size for all tables.
• Text Color : Sets text color.
• Border Color : Sets the table border color for all tables.
• Background Color : Sets table backgroud color for all tables.
Valid Trade Table
Checkboxes to indicate if the trade is valid. Fail is displayed if unchecked, Pass if checked.
Grade Table
• S/R Level 1: distance between neckline and 1st resistance area in % of the total distance between neckline and take profit. This is not for road blocks but pivot points etc before the initial run up/down in price. I have this set to 30% , this means that if there is a pivot point between the neckline and 30% of the TP level I weight it negatively.
• S/R Level 2: distance between neckline and 1st resistance area in % of the total distance between neckline and take profit. This is not for road blocks but pivot points etc before the initial run up/down in price. I have this set to 50% , this means that if there is a pivot point between the neckline and 50% of the TP level 2 weight it negatively but less so than level 1.
• S/R Level 3: distance between neckline and 1st resistance area in % of the total distance between neckline and take profit. This is not for road blocks but pivot points etc before the initial run up/down in price. I have this set to 70% , this means that if there is a pivot point between the neckline and 70% of the TP level 3 weight it negatively but less so than level 1 & level 2.
• Checkboxes are self explanatory, they are binary options, all are weighted negatively if checked and are weighted positively if unchecked. Divergence values for weighting are neutral if unckecked & weighted positively if checked.
• The select options are neutral weighting if set to neutral , if set to For its weighted positive and set to Against weighted negatively.
Technical Specification of the Scoring and Band System
Overview
The scoring system is designed to evaluate a set of technical trade conditions, assigning weights to various criteria that influence the quality of the trade. The system calculates a total score based on both positive and negative conditions. Based on the final score, the system assigns a grade or band (A, B, or C) for positive scores, and a "Negative" label for negative scores.
Scoring System
The system calculates the score by evaluating a set of 12 conditions (gradeCondition1 to gradeCondition12). These conditions are manually input by the user via checkboxes or dropdowns in a technical indicator (written in Pine Script for TradingView). The score weights vary according to the relative importance of each condition.
Condition Breakdown and Weighting:
1. Divergences (GradeCondition1 & GradeCondition2):
◦ 1H Divergence: +5 points if condition is true.
◦ 4H Divergence: +10 points if condition is true (stronger weight than 1H).
2. Support/Resistance at Neckline (GradeCondition3):
◦ Negative if present: -15 points if true (carries significant negative weight).
3. RB near Entry (GradeCondition4):
◦ Very Negative: -20 points if true (this is a critical negative condition).
4. RB can Manage (GradeCondition5):
◦ Slightly Negative: -5 points if true.
5. Institutional Value Zones (GradeCondition6 to GradeCondition8):
◦ For the trade: +5 points.
◦ Against the trade: -5 points.
◦ Neutral: 0 points.
6. S/R between Neckline & Targets (GradeCondition9 to GradeCondition11):
◦ Level 1: -10 points if true, +7 points if false.
◦ Level 2: -7 points if true, +7 points if false.
◦ Level 3: -5 points if true, +7 points if false.
◦ Use fib tool or Gann Box to measure any S/R levels setup according to your preferences.
7. News Timing (GradeCondition12):
◦ News within 3 hours: -20 points if true (strong negative factor).
◦ No upcoming news: +10 points if false.
Scoring Calculation Formula:
totalScore = score1 + score2 + score3 + score4 + score5 + score6 + score7 + score8 + score9 + score10 + score11 + score12
Where:
• score1 to score12 represent the points derived from the conditions described above.
Coloring and Visual Feedback:
• Positive Scores: Displayed in green.
• Negative Scores: Displayed in red.
Band System
The Band System classifies the total score into different grades, depending on the final value of totalScore. This classification provides an intuitive ranking for trades, helping users quickly assess trade quality.
Band Classification:
• Band A: If the totalScore is 41 or more.
◦ Represents a highly favorable trade setup.
• Band B: If the totalScore is between 21 and 40.
◦ Represents a favorable trade setup with good potential.
• Band C: If the totalScore is between 1 and 20.
◦ Represents a trade setup that is acceptable but may have risks.
• Negative: If the totalScore is 0 or less.
◦ Represents a poor trade setup with significant risks or unfavorable conditions.
Band Calculation Logic (in Pine Script):
var string grade = ""
if (totalScore >= 41)
grade := "Band A"
else if (totalScore >= 21)
grade := "Band B"
else if (totalScore >= 1)
grade := "Band C"
else
grade := "Negative"
Technical Key Points:
• Highly Negative Conditions:
◦ The system penalizes certain conditions more heavily, especially those that suggest significant risks (e.g., News in less than 3 hours, RB near Entry).
• Positive Trade Conditions:
◦ Divergences, Institutional Value Zones in favor of the trade, and lack of significant nearby resistance all contribute positively to the score.
• Flexible System:
◦ The system can be adapted or fine-tuned by adjusting the weights of individual conditions according to trading preferences.
Use Case Example:
• If a trade has 1H and 4H Divergence, RB near Entry (negative), and no upcoming news:
◦ 1H Divergence: +5 points.
◦ 4H Divergence: +10 points.
◦ RB near Entry: -20 points.
◦ No news: +10 points.
◦ Total Score: 5 + 10 - 20 + 10 = 5 → Band C.
This modular and flexible scoring system allows traders to systematically evaluate trades and quickly gauge the trade's potential based on technical indicators
Summary:
Maximum Score: 61
Minimum Score: -97
These are the bounds of the score range based on the current logic of the script.
Morning & Evening Star Pro (Candle Pattern)Hello Traders!
The Morning & Evening Star Pro indicator often catches the absolute top or bottom of a move and is a reliable reversal indicator. It also provides excellent entries in a strong trending market. For example, in an uptrend you can use a morning star as a pullback entry signal.
The indicator is an advanced tool for identifying powerful reversal patterns in the market. It combines traditional candlestick analysis with modern technical indicators to provide traders with high-probability entry and exit signals.
Key features:
Accurate pattern detection:
Utilizes sophisticated algorithms to identify genuine Morning Star and Evening Star patterns, filtering out false signals.
Trend filter:
Incorporates a customizable Simple Moving Average (SMA) to align signals with the overall market trend, enhancing trade quality.
Volatility awareness:
Integrates Average True Range (ATR) calculations to ensure detected patterns are significant relative to recent price action.
Visual clarity:
Highlights Morning Star and Evening Star patterns with customizable colors and shapes, making them easy to spot on the chart.
Flexible customization:
Offers a wide range of user inputs to tailor the indicator to various trading styles and preferences.
Filtered signal display:
Option to show filtered-out signals, providing insight into the indicator's decision-making process.
Morning Star
Is a bearish reversal (or continuation) pattern consisting of three candles:
A large bearish candle
A small-bodied candle like a Doji or Pin bar
A bullish candle
Evening Star
Is a bullish reversal (or continuation) pattern consisting of three candles:
A large bullish candle
A small-bodied candle like a Doji or Pin bar
A bearish candle
Key differences in this implementation
The middle candle can be either a Doji or a Pin bar, expanding the traditional definition.
The second candle can be a Pin bar, and the third candle can be an outside bar reversal, allowing for more flexibility in pattern recognition.
What makes this indicator unique
Comprehensive pattern analysis:
Goes beyond simple price action by considering multiple factors such as candle body ratios, wick lengths, and relative positions to previous candles.
Adaptive to market conditions:
Uses dynamic thresholds based on recent volatility (ATR) to adjust pattern detection criteria.
Educational value:
The option to display filtered signals helps traders understand why some patterns are rejected, aiding in skill development.
How to Trade with this Indicator:
This indicator often catches the absolute top or bottom of a move and is a reliable reversal indicator. It also provides excellent entries in a trending market. For example, in a strong uptrend you can use morning star signals to enter in a pullback.
Bullish Opportunities:
Look for Morning Star patterns (aqua-colored candles and labels) as potential buy signals.
Bearish Opportunities:
Watch for Evening Star patterns (orange-colored candles and labels) as potential sell signals.
Entry: At next bar open (after the aqua-colored candle for bullish or orange-colored candle for bearish completes)
Stop loss: 2 ticks below/above the pattern's low/high.
Stop loss alternative: If the colored candle is a very strong candle (e.g. for morning star a candle with almost no down wick and a close near the top) the stop goes 2 ticks below/above the colored candle.
Take profit: 3R or use a trailing stop.
Trend Alignment:
For conservative trading, only take trades in the direction of the overall trend as indicated by the SMA.
Note: if you want to see candle coloring of the morning and evening star, you must put the indicator to the top of the object tree.
LibyanSatoshi Wick FillThis is an indicator for wick fill strategy, It is an approach that focuses on the movement of price back into the 50% of a previous candle's wick. Here's an overview of this strategy:
The strategy is based on the idea that price often retraces to fill gaps or wicks left by strong moves in the market.
It particularly looks at candles with long wicks, which represent areas where price moved significantly but then reversed.
Long Wick Candles : These are candles where the wick (upper or lower shadow) is significantly longer than the body.
Trading Approach:
Entry: Traders enter a position when price starts moving back into the wick of a previous candle.
Stop Loss: Often placed beyond the end of the wick being filled.
Take Profit: Can be set at the opposite end of the candle whose wick is being filled, or at other significant levels.
Confluence:
Most effective when combined with other technical analysis tools or when the wick coincides with significant support/resistance levels.
Risks:
Not all wicks get filled, and price can reverse before reaching the full extent of the wick.
False signals can occur in choppy or ranging markets.
Benefits:
Provides clear entry and exit points.
Can be an effective way to enter trends or identify potential reversals.
Considerations:
Market sentiment is crucial; wick fills may have different implications in trending vs. ranging markets.
The size of the wick and the time frame it appears on can affect the reliability of the signal.
While the wick fill strategy can be a useful tool in a trader's arsenal, it's important to use it in conjunction with other forms of analysis and proper risk management. As with any trading strategy, it's not foolproof and requires practice and discretion to use effectively.
TrendScope:TrendScope Indicator Description with First-Time User Tutorial
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Overview:
The TrendScope indicator is designed to give traders a comprehensive view of the market by combining multiple filter sets that analyze different aspects of price action. The filter sets allow you to switch between different views effortlessly and avoid indicator clutter. Whether you're scalping, swing trading, or identifying breakout opportunities, TrendScope helps you make informed decisions by assessing momentum, volatility, trade timing, and trend direction. It also includes a scalp setup you can use to execute trades and manage risk.
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TrendScope Filter Sets with First-Time User Setup & Tutorial
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Filter Set A: Short-Term Momentum
Goal:
This filter focuses on the immediate market sentiment without any additional indicators. It reveals where retail traders might enter the market, potentially highlighting areas where they could be stopped out. The goal is to identify these weak spots and anticipate likely price movements that could follow.
No Additional Indicators Required:
This filter set uses moving averages (SMA 20, SMA 50, SMA 100) to determine the short-term trend.
Tutorial:
- To Confirm an Uptrend: Ensure all moving averages are aligned in sequence: SMA 20 above SMA 50, and SMA 50 above SMA 100, all trending upwards.
Action: Consider going long using the scalper in Filter Set D.
- To Confirm a Downtrend: Ensure all moving averages are aligned in sequence: SMA 20 below SMA 50, and SMA 50 below SMA 100, all trending downwards.
Action: Consider going short using the scalper in Filter Set D.
- To Confirm Consolidation: If the moving averages are not aligned or are intertwined, the market is either about to or already trending sideways. The market is in a consolidation phase.
Action: Switch to Filter Set C for further analysis.
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Filter Set B: Long-Term Momentum
Goal:
Similar to the short-term filter, but with a broader perspective. It helps in understanding the bigger picture, providing insights into longer-term trends and potential reversals for swing trade entries.
No Additional Indicators Required:
This filter set uses moving averages (SMA 20, SMA 100, SMA 200) to determine the long-term trend.
Tutorial:
- To Confirm an Uptrend: Ensure all moving averages are aligned in sequence: SMA 20 above SMA 100, and SMA 100 above SMA 200, all trending upwards.
Action: Consider going long using the scalper in Filter Set D.
- To Confirm a Downtrend: Ensure all moving averages are aligned in sequence: SMA 20 below SMA 100, and SMA 100 below SMA 200, all trending downwards.
Action: Consider going short using the scalper in Filter Set D.
- To Confirm Consolidation: If the moving averages are not aligned or are intertwined, the market is either about to or already trending sideways. The market is in a consolidation phase.
Action: Switch to Filter Set C for further analysis.
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Filter Set C: Trading Range
This filter uses Bollinger Bands, Volume, and Volume-Weighted Relative Volume Profile (VRVP) to identify trading ranges and predict breakouts and trade timing. In short, when Bollinger Bands contract and volume is below average, the VRVP highlights low-volume areas that can serve as breakout targets, offering a timing edge.
Goal:
Anticipate breakouts in a sideways market.
Additional Indicators Required:
- VRVP: For visualizing volume at specific price levels.
- Volume Indicator: With a 100-period moving average for anticipating low market participation.
Tutorial:
1. Setup Screen: Zoom out to see the entire consolidation phase.
2. Identify Support & Resistance:
- Use VRVP to determine VAH (upper range) and VAL (lower range) support or resistance levels.
- Identify the POC (Point of Control) as the area with the highest support or resistance.
3. Wait for Setup:
- Wait for Bollinger Bands to contract and volume to dip below the average.
- Go short if the price is at VAH, go long if the price is at VAL.
4. Action: Switch to Filter Set D for precise entry, target, and risk management.
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Filter Set D: Scalper
After determining the market condition using the previous filter sets, you can use this filter set to hunt for trades. Designed for use with Heikin Ashi candles, this filter allows you to enter when there’s high momentum and provides a trailing stop along the way.
Goal:
Execute trades in harmony with the established trend.
Setup Rules:
1. Condition 1: You know the current trend direction as per filter set guidance (A, B, & C), and the trend is up, and you are going long.
2. Condition 2: Wait for the price to close 3 consecutive flat-bottom Heikin Ashi candles above the 7 MA. Then Enter on the open of the fourth Candle.
3. Condition 3: The 3x candles have to be above the 7 MA (red line), and the 7 MA has to be above the 50 EMA (yellow line).
Trade Management:
Use the 50 EMA (Yellow Line) as a trailing stop and hold the position until a candle opens and closes below the 7 SMA (Red Line).
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Additional Filter Sets
These filter sets are designed to accommodate various trading strategies, allowing for flexibility depending on the trader's approach.
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Filter Set E: VWAP
When using the VWAP filter, load the On-Balance Volume (OBV) indicator to complement your analysis. This combination can help confirm volume trends and potential price movements.
Tips:
Look for instances where the VWAP aligns with OBV divergences to confirm or negate potential trade setups.
Tutorial:
- Complement with OBV: Look for volume confirmations.
- Usage: Switch the candles to a line chart. Wait for both the line to close above the VWAP and OBV above the Smoothing Line. Then, switch to Filter Set D and hunt for a long entry as per the strategy. Do the opposite for hunting short entries.
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Filter Set F: Super Trend
This filter is most effective when paired with the Ichimoku Cloud (using custom settings) along with the MACD and ADX indicators.
Goal:
Gauge trend strength, momentum, and support and resistance levels.
Tutorial:
- Load Ichimoku, MACD, and ADX: To gauge trend strength and momentum.
- Usage Tips:
I use the cloud to look for long periods where the clouds print horizontal levels and use them for support and resistance levels. Alternatively, use the ADX. When the price breaks up through the super trend downtrend line and retraces back to the top of the Ichimoku cloud, switch to Filter Set D and hunt for a long scalp entry. For a short entry, wait for the price to break through the Up Trend Line and retrace back up to the cloud. Then, switch to Filter Set D and use the setup to hunt for a short.
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Filter Set G: Keltner Channels
Combine this filter with Donchian Channels and the Average True Range (ATR) for enhanced volatility analysis. This filter set works similarly to Filter Set C.
Goal:
Measure volatility and predict breakouts.
Tutorial:
- Load Donchian Channels or ATR: To measure volatility and breakouts.
- Usage Tips:
Look for the price to fall through the Keltner lower line and the ATR making a higher low. Then, use the scalper for entries, with Donchian boundaries as take-profit estimates.
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Filter Set H: Pivot Points
This filter works with the RSI to spot divergences that could signal a trend change or reversal.
Goal:
Identify divergences and trend reversals.
Tutorial:
- Load RSI: For identifying divergences.
- Usage Tips:
Use RSI in conjunction with pivot points to identify divergences. Then, switch to Filter Set D and use the scalper to hunt for swing entries in the divergence direction.
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Filter Set I: Opening Range Breakout
This filter uses the Seasonality indicator to gauge investor sentiment and prediction sentiment.
Goal:
Assess market sentiment and predict breakout directions.
Tutorial:
- Load Seasonality Indicator: To assess market sentiment.
- Usage Tips:
Use seasonal trends to gauge potential breakout directions. Use on the daily timeframe only. Risk on investment zones are when the price is close to the ORB low level. Realize investment profit when the price is nearing the ORB high level, considering that there has to be divergence as determined using Filter Set H.
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By following this structured approach, traders can learn to navigate different market conditions, using TrendScope to make informed decisions based on a comprehensive analysis of momentum, trend, and volatility. The goal is to go through all the filter sets and combine them with the scalp setup in Filter Set D, using the additional filters to adapt to various strategies and market conditions.
