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0.382 Fibonacci Line of Trailing 1-year Price RangeYou may try adding this Line to your daily charts. It represents the 0.382 Fibonacci level of the trailing 1-year Price Range. If price is above this line, then it is in Bullish Territory and long entries can be looked for. According to backtesting I've done, price being above the 0.382 Fibonacci and/or the 200d sma are the 2 best determinants of qualifying an equity to be in Bullish Territory on the daily chart.
Pine Script® göstergesi
ckochiya tarafından
3
Opening Range Breakout with John Wick + CDH/CDLOpening Range Breakout (ORB) De Luxe with John Wick Pattern - User Manual Table of Contents 1. Introduction 2. Key Features 3. Installation 4. Configuration Guide 5. Trading Signals 6. Pattern Recognition 7. Zone Trading 8. Alert Setup 9. Trading Strategies 10. Best Practices 11. Troubleshooting ________________________________________ 1. Introduction The Opening Range Breakout (ORB) with John Wick indicator is a comprehensive trading tool designed for intraday and swing traders. It combines the classic Opening Range Breakout strategy with advanced candlestick pattern recognition, including the unique "John Wick" pattern. What is Opening Range Breakout? The Opening Range (OR) is the price range established during the first 15 minutes of a trading session. This range often acts as support and resistance for the remainder of the trading day. Breakouts above or below this range can signal strong directional moves. Key Concepts: • Opening Range High: The highest price during the first 15 minutes • Opening Range Low: The lowest price during the first 15 minutes • Breakout: Price movement above OR High (bullish) or below OR Low (bearish) • Pattern Zones: Areas around key levels where pattern recognition is most effective • PDH/PDL: Previous Day High and Previous Day Low - key reference levels from the prior trading day • CDH/CDL: Current Day High and Current Day Low - dynamically updating intraday extremes ________________________________________ 2. Key Features Core Features: • Multi-Session Support: New York, London, Tokyo, Sydney, Frankfurt, and Custom sessions • Opening Range Visualization: Automatic OR High/Low detection and plotting • Pattern Recognition: Engulfing, Hammer/Shooting Star, Doji, and John Wick patterns • Zone Trading: Customizable zones around OR and PDH/PDL/CDH/CDL levels • Previous Day Levels: PDH (Previous Day High) and PDL (Previous Day Low) • Current Day Levels: CDH (Current Day High) and CDL (Current Day Low) - real-time tracking • Mid-Point Levels: Automatic calculation of OR mid-point • Real-Time Alerts: Breakout and pattern-based alerts • Multi-Timezone Support: Exchange or custom timezone selection Visual Features: • Dynamic color-coded levels • Triangle signals for breakouts • Pattern labels with clear identification • Information table with current session data • Fully customizable colors and styles ________________________________________ 3. Installation Step 1: Add to Chart 4. Open TradingView and navigate to your desired chart 5. Click on "Indicators" (or press /) 6. Search for "Opening Range Breakout with John Wick" 7. Click to add the indicator to your chart Step 2: Initial Setup 8. The indicator will automatically detect your chart's timezone 9. Default session is set to "New York" 10. All features are enabled by default Recommended Timeframes: • Optimal: 1-minute to 15-minute charts • Suitable: Up to 1-hour charts • Not Recommended: Daily or higher timeframes ________________________________________ 4. Configuration Guide Timezone Settings Use Exchange Timezone • Enabled (Default): Uses the exchange's native timezone • Disabled: Uses chart timezone or custom selection Timezone Selection Available when "Use Exchange Timezone" is disabled: • America/New_York • Europe/London • Europe/Amsterdam • Asia/Tokyo • Australia/Sydney Session Selection Trading Sessions • Sydney: 09:00-16:00 Sydney time • Tokyo: 09:00-15:00 Tokyo time • London: 08:00-16:30 London time • Frankfurt: 09:00-17:30 Frankfurt time • New York: 09:30-16:00 New York time • Custom: User-defined session • Previous Sessions: Shows multiple historical ORs Custom Session Settings • Custom Session Time: Define your own trading hours • Custom Session Name: Label for your custom session Display Options Line Settings • Line Width: 1-5 (Default: 2) • Line Style: Solid, Dashed, or Dotted • Show Current Only: Hide historical OR lines • Show Session Name: Display session label on chart Color Customization • OR Resistance (High): Default red • OR Support (Low): Default green • Session Colors: Unique color per session type • Zone Colors: Separate colors for OR and PDH/PDL zones Pattern Zone Settings Zone Configuration • Show Pattern Detection Zone: Enable/disable zones • OR Zone Size: Percentage of OR range (Default: 2%) • PDH/PDL Zone Size: Percentage of PDH-PDL range (Default: 1.5%) • CDH/CDL Zone Size: Percentage of CDH-CDL range (Default: 1.5%) • Show Zone Labels: Display zone boundary values • Only Detect Patterns in Zone: Limit pattern detection to zones Mid-Point Settings • Show Opening Range Mid-Point: Display OR midline • Mid-Point Color: Default gray • Mid-Point Style: Dotted, Dashed, or Solid • Show Mid-Point Label: Display midpoint value Previous Day Levels • Show Previous Day High/Low: Enable PDH/PDL lines • PDH/PDL Colors: Default yellow • PDH/PDL Line Style: Customizable style • Show PDH/PDL Labels: Display level values Current Day Levels • Show Current Day High/Low: Enable CDH/CDL lines • CDH/CDL Colors: Default blue • CDH/CDL Line Style: Customizable style • Show CDH/CDL Labels: Display level values • Update Frequency: Real-time updates as new highs/lows are made ________________________________________ 5. Trading Signals Signal Types 6. Breakout Signals • Bullish (Buy): Green triangle below candle when price breaks above OR High • Bearish (Sell): Red triangle above candle when price breaks below OR Low 7. Pattern-Enhanced Signals Signals are generated when breakouts occur WITH confirming patterns: • Stronger probability of follow-through • Reduced false breakouts • Better risk/reward setups Signal Configuration Alert Settings • Enable Alerts: Turn alerts on/off • Show Buy/Sell Signals: Visual signals on chart • Show Signal Text: Display "BUY"/"SELL" labels Pattern Filter Options • Use Candle Pattern Filter: Require patterns for signals • Pattern Combination Mode: o Any Pattern: Signal on any single pattern o Multiple Patterns: Require minimum pattern count o Specific Combo: Require specific pattern combinations ________________________________________ 6. Pattern Recognition Supported Patterns 7. Engulfing Pattern • Bullish Engulfing: Large green candle completely engulfs previous red candle • Bearish Engulfing: Large red candle completely engulfs previous green candle • Label: "E" 8. Hammer/Shooting Star • Hammer: Small body at top, long lower wick (2x body size) • Shooting Star: Small body at bottom, long upper wick (2x body size) • Labels: "H" (Hammer), "S" (Shooting Star) 9. Doji Pattern • Definition: Open and close nearly equal (body < 10% of average) • Significance: Indecision, potential reversal • Label: "D" 10. John Wick Pattern (Unique Feature) • Bullish John Wick: o Opens below previous candle's low o 30-70% of body extends below previous low o Strong momentum indication • Bearish John Wick: o Opens above previous candle's high o 30-70% of body extends above previous high • Label: "JW" Pattern Visualization • Pattern Markers: Small circular labels with pattern abbreviations • Pattern Count: Number showing total patterns detected • Pattern Background: Optional highlighting (disabled by default) • Positioning: o Bullish patterns: Below candles at varying distances o Bearish patterns: Above candles at varying distances ________________________________________ 7. Zone Trading Zone Concept Zones are buffer areas around key levels where price action and patterns are monitored more closely. Zone Types 8. Opening Range Zones • OR High Zone: Area around the OR High level • OR Low Zone: Area around the OR Low level • Purpose: Identify potential breakout or rejection areas 9. PDH/PDL Zones • PDH Zone: Area around Previous Day High • PDL Zone: Area around Previous Day Low • Purpose: Monitor reactions at key daily levels 10. CDH/CDL Zones • CDH Zone: Area around Current Day High • CDL Zone: Area around Current Day Low • Purpose: Track reactions at evolving intraday extremes • Dynamic Nature: These zones move as new highs/lows are established Zone Features • Visual Representation: Semi-transparent colored boxes • Customizable Size: Percentage-based calculation • Pattern Detection: Option to only detect patterns within zones • Bar Coloring: Candles change color when in zones Zone Trading Strategy 11. Wait for price to enter a zone 12. Look for pattern formation within the zone 13. Trade breakouts with pattern confirmation 14. Use zone boundaries as stop-loss references ________________________________________ 8. Alert Setup Creating Alerts Step 1: Basic Alert Setup 9. Right-click on the chart 10. Select "Add Alert" 11. Choose "ORB The Luxe" from Condition dropdown 12. Select alert type Step 2: Alert Types • Any alert() function call: All indicator alerts • Crossed above OR High: Bullish breakout • Crossed below OR Low: Bearish breakout Alert Messages Alerts include: • Session name (e.g., "New York") • Direction (above/below) • Level crossed • Pattern detected (if applicable) • Zone information (if in zone) Alert Best Practices 13. Set alerts after the OR is established (15+ minutes into session) 14. Use pattern filters to reduce false signals 15. Consider zone alerts for higher probability setups 16. Set stop-loss alerts at opposite OR level ________________________________________ 9. Trading Strategies Strategy 1: Classic ORB 10. Entry: o Long: Break above OR High o Short: Break below OR Low 11. Stop Loss: Opposite OR level 12. Target: 1:2 or 1:3 risk/reward 13. Best Time: First 2 hours after OR Strategy 2: ORB with Pattern Confirmation 14. Entry Requirements: o Breakout signal o At least one confirming pattern o Preferably within a zone 15. Stop Loss: Mid-point of OR 16. Target: Previous day's high/low or current day's high/low 17. Win Rate: Higher than classic ORB Strategy 3: Zone Rejection Trading 18. Setup: Price enters zone but fails to break OR 19. Entry: Reversal pattern in zone 20. Stop Loss: Just outside zone boundary 21. Target: Opposite OR level 22. Best For: Range-bound markets Strategy 4: Multi-Session Confluence 23. Look for: Alignment of multiple session ORs 24. Entry: Break of aligned levels 25. Confirmation: Pattern at confluence point 26. Target: Extended moves expected 27. Additional Edge: Watch for CDH/CDL tests during the session Strategy 5: CDH/CDL Breakout Trading 1. Setup: Price approaches current day's high or low 2. Entry: Break and hold above CDH or below CDL 3. Confirmation: Volume increase or pattern formation 4. Stop Loss: Just inside the CDH/CDL level 5. Target: Measured move based on intraday range 6. Best For: Trending days with momentum Risk Management Rules • Position Size: Risk 1-2% per trade • Max Daily Loss: 3-5% of account • Avoid: First and last 15 minutes of session • Best Days: Tuesday through Thursday ________________________________________ 10. Best Practices Do's: • Wait for OR to be established (15 minutes) • Use multiple confirmations (pattern + zone + volume) • Trade in the direction of the larger trend • Set alerts to avoid missing opportunities • Keep a trading journal of ORB trades • Adjust zones based on market volatility • Use proper position sizing Don'ts: • Trade immediately at market open • Ignore the overall market context • Trade every OR breakout • Use in choppy/low volume markets • Set stops too close to entry • Trade against strong trends • Over-leverage positions Market Conditions Best Performance: • Trending days • High volume sessions • Economic news days • Clear market sentiment Avoid During: • Low volume holidays • Extremely choppy conditions • Major uncertainty events • End of month/quarter repositioning ________________________________________ 11. Troubleshooting Common Issues and Solutions Issue: No signals appearing Solutions: • Ensure "Show Buy/Sell Signals" is enabled • Check if pattern filter is too restrictive • Verify correct session is selected • Confirm market has broken OR levels Issue: Too many false signals Solutions: • Enable pattern filter requirement • Use "Multiple Patterns" mode • Trade only within zones • Increase zone size percentage Issue: Incorrect session times Solutions: • Check timezone settings • Verify exchange timezone option • Use custom session for specific needs • Ensure chart timeframe is appropriate Issue: Overlapping indicators Solutions: • Disable pattern markers if too cluttered • Turn off signal text • Hide PDH/PDL or CDH/CDL if not needed • Use "Show Current Only" option Performance Tips 12. Reduce Chart Load: Hide historical sessions 13. Clean View: Disable unused pattern types 14. Mobile Trading: Increase line widths for visibility 15. Multiple Monitors: Use different sessions per screen Getting Help • Check indicator settings tooltips • Test on demo account first • Document your settings for consistency • Join ORB trading communities for tips ________________________________________ Conclusion The Opening Range Breakout with John Wick indicator is a powerful tool that combines time-tested ORB strategies with advanced pattern recognition. Success comes from understanding each component, practicing proper risk management, and adapting the tool to your trading style. Remember: No indicator guarantees profits. Always use proper risk management and continuous education to improve your trading results. Happy Trading! ________________________________________ Version: 1.0 Last Updated: June 2025 Pine Script Version: 6
Pine Script® göstergesi
kiemonline2016 tarafından
FVG Range Filter0x278's FVG Range Filter Overview The FVG Range Filter is a TradingView indicator designed to identify and display Fair Value Gaps (FVGs) on your chart. FVGs are areas of price imbalance that often act as significant zones for potential price retracement or reversal. This indicator filters out irrelevant gaps, showing only those that are within a specified price range and time frame, making it easier to focus on high-probability trading opportunities. This guide is crafted to help both novice and experienced traders understand how to use this indicator effectively, even if you're new to the concept of FVG trading. We'll cover what FVGs are, how the indicator works, how to interpret its visual elements, and how to apply it in various trading scenarios. What are Fair Value Gaps (FVGs)? Fair Value Gaps occur when the price of an asset moves so quickly in one direction that it leaves a 'gap' or 'void' on the chart where no trading activity occurred. These gaps represent areas of imbalance between supply and demand, often created by strong buying or selling pressure. Traders use FVGs to identify potential areas where price might return to 'fill' the gap, offering opportunities for entries or exits. Bullish FVG : This happens when price jumps upward, leaving a gap below. It suggests strong buying pressure and often acts as a support zone when price retraces. Bearish FVG : This occurs when price drops sharply, leaving a gap above. It indicates strong selling pressure and often acts as a resistance zone when price retraces. How the FVG Range Filter Works The FVG Range Filter indicator automatically detects these gaps based on a specific three-bar pattern that identifies significant price imbalances. It then applies filters to ensure only relevant FVGs are displayed: Range Filter : Only shows FVGs whose midpoint is within a user-defined percentage of the current price. This keeps the focus on gaps that are close enough to be actionable. Time Filter : Only displays FVGs that are younger than a specified number of bars, ensuring you're looking at recent and relevant price action. Invalidation : Once the price trades through the midpoint of an FVG, the gap is considered 'filled' or invalidated, and it is removed from the chart. This filtering mechanism declutters your chart, highlighting only the most pertinent FVGs for your trading decisions. Indicator Settings The FVG Range Filter offers customizable inputs to tailor its behavior to your trading style: Display Range (%) : This sets the percentage range from the current price within which FVGs are shown. A lower value (e.g., 1.0%) shows only gaps very close to the current price, while a higher value (e.g., 5.0%) includes gaps further away. Default is 1.0%. Look-back Bars : This determines how far back in time the indicator looks for FVGs. It also limits how long a gap remains visible if it hasn't been invalidated. Default is 1000 bars. Show Bullish FVGs : Toggle to display bullish FVGs (green boxes by default). Default is enabled. Show Bearish FVGs : Toggle to display bearish FVGs (red boxes by default). Default is enabled. Box Opacity (0-100) : Adjusts the transparency of the FVG boxes on the chart. A value of 0 is fully transparent (invisible), while 100 is fully opaque. Default is 33 for a subtle appearance. Visual Elements and Interpretation The indicator draws rectangular boxes on your chart to represent FVGs. Understanding these visual elements is key to using the indicator effectively: Green Boxes : Represent bullish FVGs. These are areas where price gapped upward, suggesting potential support zones. If price retraces to this area, it might bounce off as buyers step in to defend the level. Red Boxes : Represent bearish FVGs. These are areas where price gapped downward, indicating potential resistance zones. If price retraces to this area, it might face selling pressure and reverse downward. Box Position and Extension : Each box starts at the bar where the FVG was detected and extends to the right, updating dynamically as new bars form. This extension helps maintain visibility until the gap is either invalidated or falls out of the look-back period. Disappearance of Boxes : A box disappears from the chart in two scenarios: Price Moves Away : If the midpoint of the FVG moves outside the specified display range percentage from the current price, or if the FVG becomes older than the look-back bars limit, the box is removed (though the gap data persists in memory for potential re-display if conditions are met again). Invalidation : If price trades through the midpoint of the FVG (i.e., the low of a candle goes below the midpoint for a bullish FVG, or the high goes above the midpoint for a bearish FVG), the gap is considered filled, and the box is permanently removed from the chart. Trading Scenarios with FVG Range Filter Below are detailed trading scenarios to help you understand how to use the FVG Range Filter in practical situations. These scenarios assume you're trading with the trend or looking for reversals at key levels. Scenario 1: Bullish FVG as Support for Long Entry Setup : You're trading a stock in an uptrend on a 15-minute chart. The FVG Range Filter displays a green box (bullish FVG) after a sharp upward move earlier in the day. Interpretation : This green box indicates a zone of imbalance where price gapped up, likely due to strong buying interest. Since it's still within the display range and look-back period, it's a relevant support zone. Action : Wait for price to retrace back to the top edge of the green box. Look for confirmation of support, such as a bullish candlestick pattern (e.g., hammer or engulfing) or increased volume, indicating buyers are stepping in. Entry : Enter a long position near the top of the FVG box, setting a stop-loss just below the bottom of the box to protect against a breakdown. Target : Aim for the next resistance level or a predefined risk-reward ratio (e.g., 1:2). If another bullish FVG forms above, consider that as a potential target. Exit : Exit the trade if price breaks below the bottom of the FVG (invalidation), or if the box disappears due to price trading through the midpoint, signaling the gap is filled. Scenario 2: Bearish FVG as Resistance for Short Entry Setup : You're trading a cryptocurrency on a 1-hour chart during a downtrend. The indicator shows a red box (bearish FVG) after a sharp downward move a few hours ago. Interpretation : The red box marks a zone where price gapped down, indicating strong selling pressure. As long as it's within the display range and look-back period, it remains a potential resistance zone. Action : Wait for price to rally back to the bottom edge of the red box. Look for signs of rejection, such as a bearish candlestick pattern (e.g., shooting star or engulfing) or decreasing volume, suggesting sellers are defending this level. Entry : Enter a short position near the bottom of the FVG box, placing a stop-loss just above the top of the box to guard against a breakout. Target : Target the next support level or a favorable risk-reward ratio. If a new bearish FVG appears below, it could serve as a potential target. Exit : Exit if price breaks above the top of the FVG (invalidation), or if the box disappears because price has traded through the midpoint, indicating the gap is no longer relevant. Scenario 3: Filtering Out Irrelevant FVGs During Choppy Markets Setup : You're trading forex on a 5-minute chart during a period of consolidation with no clear trend. The chart shows frequent small price jumps, but the FVG Range Filter displays very few boxes. Interpretation : The indicator is filtering out FVGs that are either too far from the current price (outside the display range percentage) or too old (beyond the look-back bars). This helps avoid false signals in a non-trending market. Action : Recognize that the absence of FVGs on the chart suggests no high-probability setups at the moment. Avoid forcing trades based on minor price movements that don't meet the filter criteria. Entry : Wait for a clear trend to emerge and for new FVGs to appear within the filter parameters before considering any trades. Target/Exit : Follow the trend direction once FVGs are displayed, using the edges of the boxes as potential entry or exit zones as described in the previous scenarios. Scenario 4: Using FVGs for Risk Management Setup : You're already in a long position on an index futures contract on a 30-minute chart, and the FVG Range Filter shows a green box below your entry point. Interpretation : The green box represents a bullish FVG that could act as a support zone. Since price hasn't yet reached the midpoint (which would invalidate the FVG), it remains a valid reference point for managing risk. Action : Adjust your stop-loss to just below the bottom of the green box. This placement uses the FVG as a logical invalidation level, assuming that a break below this support zone negates the bullish premise of your trade. Entry : No new entry is needed since you're already in the trade. Target/Exit : Keep your original target unless a new bearish FVG forms above, which might indicate resistance. Exit if price breaks below the FVG or if the box disappears due to invalidation. Tips for Using the FVG Range Filter Combine with Trend Analysis : FVGs are most effective when traded in the direction of the prevailing trend. Use higher timeframe analysis or other indicators to confirm the overall market direction before acting on FVGs. Adjust Settings for Market Conditions : In volatile markets (like cryptocurrencies), you might increase the display range percentage to capture more FVGs. In less volatile markets (like certain stocks), a tighter range might be more appropriate. Timeframe Selection : The indicator works on all timeframes, but lower timeframes (1-15 minutes) might show more frequent FVGs for scalping, while higher timeframes (1-4 hours) are better for swing trading with larger, more significant gaps. Confirmation Tools : Don't rely solely on FVGs for entries. Use additional confirmation from price action (candlestick patterns), volume, or other indicators to increase the probability of success. Monitor Invalidation : If an FVG box disappears from the chart due to price trading through its midpoint, consider it a signal that the gap is no longer relevant. Adjust your strategy accordingly. Limitations Not a Standalone System : The FVG Range Filter identifies potential zones of interest but does not provide entry signals, stop-loss, or take-profit levels on its own. It should be used as part of a broader trading strategy. Market Conditions : FVGs may be less effective in strongly trending markets where price doesn't retrace to fill gaps, or in very choppy markets where too many small gaps are filtered out. Lag in Detection : Since FVGs are based on a three-bar pattern, there is a slight delay in identifying them after the price movement has occurred. Good Luck! The FVG Range Filter is a powerful tool for traders looking to capitalize on price imbalances in the market. By focusing only on relevant Fair Value Gaps within a specified range and time frame, it helps declutter your chart and highlights high-probability zones for potential trades. Whether you're new to FVG trading or an experienced trader, this indicator can enhance your analysis by visually identifying key areas of support and resistance based on market inefficiencies. Experiment with the settings to match your trading style and market conditions, and always combine the indicator's insights with other forms of analysis for the best results. Happy trading!
Pine Script® göstergesi
Ox278 tarafından
(Quartile Vol.; Vol. Aggregation; Range US Bars; Gaps) [Kioseff]Hello! This indicator is a multifaceted tool that's, hopefully, useful for price action and volume analysis. (This script makes use of the newly introduced "text_font" parameter) With this script you'll have access to: Range US Chart Volume Aggregation Chart Gaps Chart Volume by Quartile Consequently, you'll have access to: First Quartile Volume Threshold Second Quartile Volume Threshold Third Quartile Volume Threshold 90th Percentile Volume Threshold Fourth Quartile Volume Threshold Q2 - Q1 Dispersion Q3 - Q2 Dispersion Q4 - Q3 Dispersion Quartile Deviation Interquartile Range Avg. "n" bar return following "high" volume Avg. "n" bar positive return following "high" volume Avg. "n" bar negative following "high" volume # of Positive Returns Following a Gap # of Negative Returns Following a Gap # of Gaps # of Up Gaps # of Down Gaps Average # of bars to fill Up Gaps Average # of bars to dill Down Gaps Average Gap Up % increase Average Gap Down % decrease Cumulative % increase of all Up Gaps Cumulative % decrease of all Down Gaps Sort gaps by distance from price Hide gaps that price substantially deviates from (gaps will reappear when price trades near the gap) Segment Range US bars by date Manually configure Range US price thresholds Identify "congestion" areas with Range US bars Range US Levels that must be exceeded for a new Range US bar to produce Manually configure cumulative volume threshold for Volume Aggregation bars Segment Volume Aggregation bars by date Largest Volume Aggregation bar increases Largest Volume Aggregation bar decreases Calculate log returns after "high" volume sessions Quartile Volume The Quartile Volume portion of the script segments price/volume intervals by quartile. The image above shows features of the indicator. For statistics, the following metrics are recorded: First Quartile Second Quartile Third Quartile 90th Percentile Fourth Quartile Q2 - Q1 Dispersion Q3 - Q2 Dispersion Q4 - Q3 Dispersion Quartile Deviation Interquartile Range Color-coordinated price bars (by volume quartiles) The percent rank for the volume of the current bar Avg. "n" bar return following "high" volume Avg. "n" bar positive return following "high" volume Avg. "n" bar negative following "high" volume The script colors bars via gradient. By default, bars are colored lime when volume for the interval is "high" (exceeds upper quartile thresholds). The greener the bar, the higher the volume for the interval. Bars are colored red when volume for the interval is "low" (fails to exceed lower quartile thresholds). The redder the bar, the lower the volume for the interval. Naturally, brownish-colored bars reflect a volume interval that concluded near the median. The image above exemplifies the process. This feature might be useful to categorize / objectively define high-volume clusters, low-volume clusters, high-volume price moves, low-volume price moves, etc. For greater precision, you can select to color bars by volume quartile they belong to. The image above shows color-coordinated price bars. More details shown in the image. Additionally, you can select to plot the quartile/percentile that a price bar belongs to on the chart. The image above shows price bars numbered by the volume quartile they belong to. The script will distinguish successive 90th percentile violations, superimpose a linear regression channel atop the data sequence, and record pertinent statistics. The image above shows the process. Lastly, the user can plot an anchored VWAP using a built-in time function. The image above shows the anchored VWAP. Range US Chart A Range US chart operates irrespective of time and volume - simply - bars produce after a user-defined price move is achieved/exceeded in either direction. A range us chart produces “trend candles” and “reversal candles”. A reversal candle always moves against the most immediate bar; a trend candle always moves in favor of the most immediate bar. The user defines the dollar amount price must travel up/down for a trend candle to fulfill, and for a reversal candle to fulfill. Note: if a “down reversal” candle (red) Is produced, it’s impossible for the next candle to also be a down reversal candle - for the downside move to continue the criteria for a down trend candle must be fulfilled. Similarly, if an “up reversal” candle (green) Is produced, it’s impossible for the next candle to also be an up reversal candle - for the upside move to continue, the criteria for an uptrend trend candle must be fulfilled. Consequently, Range US bars frequently trade at the same level for extended periods. This is intentional, as this chart type is theorized to “filter noise” (whether Range US charts fulfill this theory is to your discretion). Lastly, if an up trend candle (green) is produced, the next candle cannot be up a reversal up candle - only a trend up candle or reversal down candle can produce - vice versa for a trend down candle (the subsequent candle cannot be a reversal down candle). In this sense, an uptrend continues on successive trend up candles; a down trend continues on successive trend down candles. The image above exemplifies Range US chart functionality. The lower-right stats table shows the requisite price move for a "Trend" candle to produce and for a "Reversal" candle to produce. The default settings for this chart time automatically calculate the required "Trend" candle price move and the required "Reversal" candle price move. However, both settings are configurable. The image above shows manually configured parameters for a trend bar and reversal bar to produce. This feature allows the user to replicate the Range US chart hosted on extrinsic charting platforms. However, please consider that this script does not use tick data; 1-minute OHLC data is used for calculations. Consequently, configuring the trend bar and reversal bar requirement too low may return inaccurate data. For instance, if you set trend candles to form after a $1 price move then trend candles will form if price moves up $1 from a green Range US bar or down $1 from a red Range US bar. This is sufficient for lower priced assets; however, if you were trading, for instance, Bitcoin - a $1 price move can happen numerous times in one minute. This script can’t plot bars and record data until a 1-minute bar closes and a new 1-minute bar opens. Further, if Bitcoin moves up $1 twenty times and down $1 twenty times in a 1-minute bar - your Range US chart will record such variations as one price move. This data is inaccurate and likely useless. To counter this quandary, a warning message will appear if you configure trend bar price moves or reversal bar price moves too low. The image above shows the concealable warning message. The image above is a flow diagram (made with shaky hands) illustrating the Range US bar formation process. A google search will return additional information on the Range US chart type. Volume Aggregation Bars TradingView user and member of the TradingView Discord server @ferreirajames informed me of the Volume Aggregation chart type. The user commented in the "Suggestions" channel for the TradingView Discord server asking for the Volume Aggregation chart type. As an interim fix, I tried my hand at recreating the process, which is available in this script. Similar to the Range US chart type, Volume Aggregation bars aren’t bound to a time-axis; the bars form after a user-defined, cumulative amount of volume is achieved or exceeded. Consequently, once the cumulative amount of volume is achieved or exceeded - a bar is produced at the corresponding price level. Underlying theory: The chat type is conducive to identifying price levels where traders are “trapped”. Whether the process adequately distinguishes this circumstance is to your discretion. The image above exemplifies the Volume Aggregation chart type. Regardless of the current price, Volume Aggregation bars for after a requisite amount of volume is achieved/exceeded. Tick data isn't used; therefore, remainder values are carry over. By default, the script automatically calculates a proportional cumulative volume total to dictate the formation of Volume Aggregation bars. However, the cumulative threshold is configurable. The image above shows Volume Aggregation bars forming subsequent a user-defined cumulative volume total being exceeded. Note: This chart type uses OHLC data from the timeframe of your chart. Therefore, for instance, setting the volume threshold too low will produce inaccurate, useless data. A warning message will appear for such occurrence. Gaps The indicator incorporates a "Gaps" chart type. The image above shows accompanying features. A list of all unfilled gaps is accessible - gaps for this list are sorted by distance from current price. Partially filled gaps are displayed in the corresponding gap box - the percentage amount the gap was filled is also displayed. Gap statistics show: # of Gaps # of Up Gaps # of Down Gaps Average # of bars to fill Up Gaps Average # of bars to dill Down Gaps Average Gap Up % increase Average Gap Down % decrease Cumulative % increase of all Up Gaps Cumulative % decrease of all Down Gaps Naturally, there may be gaps formed thousands of bars ago that aren't close to price. Showing these gaps on the chart will "scrunch" the y-axis and make prices indistinguishable. I've added a setting that allows the user to hide gaps that are "n" % away from the current price. The gap, if unfilled, will reappear when price trades within the user-defined percentage. The image above shows an example. There's an unfilled down gap that's "hidden" because the current price is a further % away from price than what I've specified in the settings (1%). When prices trade back within 1% of the gap - it will reappear. The image above shows the process in action. Prices moved back within 1% (can be any %) of the gap; therefore, it reappeared on the chart. You can also set the % distance a gap must achieve for it to be considered a gap, recorded and plotted. Additionally, you can select to "visualize" gaps. Similar to the Range US chart and the Volume Aggregation chart, this setting will bars reflecting the most recent sequence of gaps - date and percentage distance of the gap are superimposed atop the bar. Let me know if there's anything else you'd like included! Note: The initial compilation time for this script is.... high. However, once the script's compiled, calculation load times are quick and you can sift through assets and timeframes relatively quick. There's also a setting to "Improve Load Times" in the user-inputs table. This setting only improves the load times for post-compilation calculations and plots. The initial compilation load time is unchanged. Simply, once the indicator has "first loaded", all subsequent loads are quick. Thank you! (:
Pine Script® göstergesi
KioseffTrading tarafından
27
Candle Range 915Candle Range 915 (CR915) is a multi-session visualization tool designed for traders applying Candle Range Theory to intraday decision-making. This script highlights key range zones formed by the following session-specific candles (based on New York time): • 9:00 PM – Asia session • 1:00 AM – London expansion candle • 5:00 AM – NY continuation/reversal candle • 8:00 AM – CRT staging candle • 9:00 AM – CRT decision candle • 5:00 PM – CBDR (Central Bank Dealers Range) For each session, the high, low, and optional equilibrium (EQ) levels are plotted with customizable extensions. Labels are placed at the end of each range, and breakout alerts are available for the 8:00 AM and 5:00 PM CRT zones. The script also includes: Previous Day High/Low reference lines EQ toggle per session Dynamic Daylight Saving Time (DST) adjustment Optional labeling and color control This tool is built with a time-based narrative in mind and supports traders analyzing structure, order flow, and key liquidity windows across intraday sessions. Note: This is a visualization tool only. It does not generate signals or make buy/sell recommendations.
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originalsaucemaker tarafından
1
True Range eXpansion🕯️ TRX — True Range eXpansion Clean Candle Bodies · Volatility Bands · Adaptive Range Envelope System Not your grandfather’s candles. Not your brokerage’s bands. ---------------------------------------------------- TRX begins with a simple concept: visualize the true range of every candle, without the noise of flickering wicks. From there, it grows into a fully adaptive price visualization framework. What started as a candle-only visualizer evolved into a modular, user-controlled price engine. From wickless candle clarity to dynamic volatility envelopes, TRX adapts to you. There are plenty of band and channel indicators out there — Bollinger, Keltner, Donchian, Envelope, the whole crew. But none of them are built on the true candle range, adaptive ATR shaping, and full user control like TRX. This isn’t just another indicator — it’s a new framework. Most bands and channels are based on close price and statistical deviation — useful, but limited. TRX uses the full true range of each candle as its foundation, then applies customizable smoothing and directional ATR scaling to form a dynamic, volatility-reactive envelope. The result? Bands that breathe with the market — not lag behind it. ---------------------------------------------------- 🔧 Core Features: 🕯️ True Range Candles — Each candle is plotted from low to high, body-only, colored by open/close. 📈 Adjustable High/Low Moving Averages — Select your smoothing style: SMA, EMA, WMA, RMA, or HMA. 🌬️ ATR-Based Expansion — Bands dynamically breathe based on market volatility. 🔀 Per-Band Multipliers — Fine-tune expansion individually for the upper and lower bands. ⚖️ Basis Line — Optional centerline between bands for structure tracking and equilibrium zones. 🎛️ Full Visual Control — Width, transparency, color, on/off toggles for each element. ---------------------------------------------------- 🧠 Default Use Case: With the included default settings, TRX behaves like an evolved Bollinger Band system — based on True Range candle structure, not just close price and standard deviation. ---------------------------------------------------- 🔄 How to Zero Out the Bands (for Minimalist Use): Want just candles? A clean MA? Single band? You got it. ➤ Use TRX like a clean moving average: • Set ATR Multiplier to 0 • Set both Band ATR Adjustments to 0 • Leave the Basis Line ON or OFF — your call ➤ Show only candles (no bands at all): • Turn off "Show High/Low MAs" • Turn off Basis Line ➤ Single-line ceiling or floor tracking: • Set one band’s Transparency to 100 • Use the remaining band as a price envelope or support/resistance guide ---------------------------------------------------- 🧬 Notes: TRX can be made: • Spiky or silky (via smoothing & ATR) • Wide or tight (via multipliers) • Subtle or aggressive (via color/transparency) • Clean as a compass or dirty as a chaos meter Built by accident. Tuned with intention. Released to the world as one of the most adaptable and expressive visual overlays ever made. Created by Sherlock_MacGyver
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Sherlock_MacGyver tarafından
Moday Range📈 Monday Range Indicator – A Powerful Tool to Kickstart Your Week The Monday Range Indicator is designed to help traders identify key price levels established during Monday’s trading session. This range often acts as a crucial zone for price reactions throughout the rest of the week. What does this indicator do? 🔹 Automatically plots the Monday range The indicator marks the high and low of Monday, optionally including a midline. This zone helps you spot potential breakouts or rejections in the upcoming sessions. 🔹 Clear visual display on your chart The Monday range is shown with clean lines or a shaded box, making it easy to see where the market set its initial boundaries. 🔹 Set breakout alerts You can enable alerts to get notified when price: Breaks above the Monday high (bullish breakout) Breaks below the Monday low (bearish breakout) This allows you to stay focused and react faster — even when you’re not watching the chart. Why is the Monday Range important? Monday's price action often sets the tone for the rest of the trading week. It’s when institutions place their early positions and liquidity gets tested. By tracking this range, you can better anticipate potential breakouts, fakeouts, or reversals.
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Zymac tarafından
Asia Session Range @mrxautrades🗺️ Asia Session Range by @mrxautrades 🚨 This script is closed-source because it implements a custom logic for session range visualization, deviation projections, and adaptive display based on chart timeframe. No other public script offers this exact functionality. ✅ What does this script do? This indicator highlights the Asian session range and calculates dynamic extensions during the New York session open. It's designed for traders who rely on price action around key market sessions. 🔧 Unique Features (compared to existing scripts): Timeframe-aware visibility: The script includes conditional logic to show or hide elements based on the chart timeframe (e.g., only visible on 60-minute or lower charts). Automatic deviation levels: Calculates and plots extensions above/below the Asian range based on its size, offering projected support/resistance levels in real time. Adaptive labels: Labels adjust dynamically to chart styling, with options for background, color, and visibility control. ⚙️ Customizable Inputs: Asian and New York session times Box, line, and label colors Number and spacing of deviation levels Line extension duration (in hours) Label style: plain text or with background 🧠 Best suited for: Breakout strategies based on the Asian session range Using prior session levels as support/resistance Intraday traders in Forex, indices, or crypto markets
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borrero199 tarafından
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.
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jochacko11 tarafından
4
[blackcat] L3 Twin Range Filter ProOVERVIEW The L3 Twin Range Filter Pro indicator enhances trading strategies by filtering out market noise through a sophisticated dual-range approach. Unlike previous versions, this script not only provides clear visual indications of buy/sell signals but also incorporates a dynamic trend range filter line. By averaging two smoothed exponential moving averages—one fast and one slow—the indicator generates upper and lower range boundaries that adapt to changing market conditions. Traders can easily spot buy/sell opportunities when the closing price crosses these boundaries, supported by configurable alerts for real-time notifications. FEATURES Dual-Range Calculation: Combines fast and slow moving averages to create adaptive range boundaries. Customizable Parameters: Periods: Adjustable lengths for fast (default 9 bars) and slow (default 34 bars) moving averages. Multipliers: Coefficients to modify the distance of the trailing lines from the price. Dynamic Trend Range Filter Line: Visually displays buy/sell signals directly on the chart. Trailing Stop Loss Logic: Automatically follows price movements to act as a trailing stop loss indicator. Trade Signals: Clearly indicates buy/sell points with labeled signals. Alerts: Configurable notifications for buy/sell signals to keep traders informed. Visual Enhancements: Colored fills and dynamic boundary lines for easy interpretation. HOW TO USE Add the L3 Twin Range Filter Pro indicator to your TradingView chart. Customize the input parameters: Price Source: Choose the desired price source (e.g., Close). Show Trade Signals: Toggle on/off for displaying buy/sell labels. Fast Period: Set the period for the fast moving average (default 9 bars). Slow Period: Set the period for the slow moving average (default 34 bars). Fast Range Multiplier: Adjust the multiplier for the fast moving average. Slow Range Multiplier: Adjust the multiplier for the slow moving average. Monitor the plotted trend range filter and dynamic boundaries on the chart. Identify buy/sell signals based on the crossing of price and range boundaries. Configure alerts for real-time notifications when signals are triggered. TRADE LOGIC BUY Signal: Triggered when the price is higher than or equal to the upper range level. The indicator line will trail just below the price, acting as a trailing stop loss. SELL Signal: Triggered when the price is lower than or equal to the lower range level. The indicator line will trail just above the price, serving as a trailing stop loss. LIMITATIONS The performance of this indicator relies on the selected periods and multipliers. Market volatility can impact the accuracy of the signals. Always complement this indicator with other analytical tools for robust decision-making. NOTES Experiment with different parameter settings to optimize the indicator for various market conditions. Thoroughly backtest the indicator using historical data to ensure its compatibility with your trading strategy. THANKS A big thank you to Colin McKee for his foundational work on the Twin Range Filter! Your contributions have paved the way for enhanced trading tools. 🙏📈🔍
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blackcat1402 tarafından
Strong Body Candle (80% of Range)You said: Strong body candle 80% range ChatGPT said: A strong body candle with an 80% range typically refers to a candlestick on a price chart (usually used in technical analysis) where the real body of the candle (the open-to-close price movement) makes up 80% or more of the entire candle’s range (the high-to-low movement). Breakdown: Candle Range = High − Low Body Size = |Close − Open| Body-to-Range Ratio = (Body Size ÷ Candle Range) × 100 If this ratio is ≥ 80%, the candle is considered to have a strong body. Interpretation: A strong bullish candle: Close is near the high, open is near the low — strong buying pressure. A strong bearish candle: Close is near the low, open is near the high — strong selling pressure. These candles often signal momentum or trend continuation, especially when occurring after consolidation or at breakout points. Would you like a script or formula to help detect these on a chart? 2/2 You said: Yeh indicator banaya hai is ki description Bana ker rain publish kernrehanhun trading view per ChatGPT said: Great! Here's a professional and clear description you can use to publish your indicator on TradingView: 🔥 Strong Body Candle (80% Range) — Indicator Description This indicator highlights candlesticks where the real body constitutes 80% or more of the entire candle's range (High − Low). These candles often represent strong momentum and are useful for identifying potential trend continuations, reversals, or breakout confirmations. 📌 Key Features: ✅ Detects both bullish and bearish strong body candles. ✅ Customizable threshold (default: 80%) for fine-tuning to your strategy. ✅ Visual markers make it easy to spot high-momentum candles on any timeframe. 📊 How It Works: The script calculates the ratio of the candle's body size (|Close − Open|) to its total range (High − Low). If the ratio is equal to or above 80%, the candle is flagged: Green Marker = Strong Bullish Candle (Close > Open) Red Marker = Strong Bearish Candle (Open > Close) 🛠️ Use Cases: Identify momentum shifts and breakout confirmations. Use with support/resistance zones or trendlines for stronger signals. Combine with volume indicators for enhanced precision.
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RajaSaien tarafından
True Range Orginal📌 Description – True Range Original This indicator calculates the range (price spread) of the last N candles and displays it directly on the chart, along with suggested dynamic stop-loss levels based on recent volatility. Ideal for scalpers and day traders working on short timeframes such as 1-minute charts. 🔍 Features: Calculates the difference between the highest high and lowest low of the last N bars (default: 15). Plots a floating label with the current range value, updated every 5 candles. Displays 4 dynamic stop levels: For long positions: Stop at 1x range (green line) Stop at 1.5x range (light green line) For short positions: Stop at 1x range (red line) Stop at 1.5x range (dark red line) ⚙️ Inputs: Range period (number of bars) Stop multiplier 1 (default: 1.0) Stop multiplier 2 (default: 1.5) 📈 Usage: This tool helps you size your stop-loss dynamically based on recent price action instead of using fixed values. It can be used alone or in combination with other tools like support/resistance, volume, or aggression indicators.
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EduWarlock tarafından
Weekly Open Range [BigBeluga] A precision weekly range tracker that captures early market positioning from the first moments of the trading week. By dynamically measuring the highest and lowest points from the first three candles after the Sunday 21:00 UTC open, the indicator builds a reactive support and resistance framework for the week ahead. It also visualizes the active range with a dynamic box and provides live updates of the current price movement against the established range boundaries. 🔵 KEY FEATURES Automatically marks the weekly open range starting at Sunday 21:00 UTC . Identify maximum high and minimum low from the first 3 candles after the weekly open. if isWeeklyOpen or isWeeklyOpen or isWeeklyOpen or isWeeklyOpen h = math.max(high, range_box.get_top()) l = math.min(low, range_box.get_bottom()) Draws two horizontal lines from the range extremes, acting as dynamic support/resistance zones throughout the week. Visualizes the range with a semi-transparent box for clear zone identification. Includes a compact dashboard panel with: - Symbol and current price with bullish or bearish bar indication with ▲ / ▼ - Current weekly high/low range values 🔵 USAGE Treat the high and low of the range as support/resistance zones for the week. Combine with volume analysis or liquidity tools for entry confirmation . Refresh your key levels every week as the indicator resets each Sunday night . Works great alongside Smart Money Concepts (ICT) strategies and weekly planning. Weekly Open Range gives traders a reliable structure to anchor their week. With clear range mapping, breakout signals, and intuitive visuals, it becomes a valuable part of any strategic trading approach—especially when precision timing around liquidity zones is key.
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BigBeluga tarafından
5
Trend vs Range DetectorMarkets often oscillate between trend phases and range-bound consolidations. Accurately identifying which environment you're in can dramatically improve your strategy's performance — whether you're a breakout trader, trend follower, or mean reversion specialist. This Pine Script helps do exactly that — with zero clutter, no chart overlays, and a simple, clean table at the top-right corner telling you one thing: 👉 Is the market trending or range-bound? ⚙️ How It Works The script uses two core metrics to classify the market environment: 1. Slope Sensitivity of Moving Average A simple moving average (default: 50-period) is used. The absolute slope of the moving average is calculated. If the slope exceeds a user-defined sensitivity value, it indicates directional momentum. 2. ATR-to-Price Range Ratio Measures volatility by comparing Average True Range (ATR) to the total high-low price range over the same period. A higher ATR relative to the range indicates directional volatility — a trending behavior. A low ratio signals a choppy or sideways market. If both conditions are met, the table displays "Trending." If either condition fails, it shows "Range-Bound." 🧠 Why This Matters Trend Traders: Know when to lean into momentum plays. Mean Reversion Traders: Avoid whipsaw conditions or capitalize on sideways action. Volatility Filters: Use this signal to apply different strategies to different market types. 🛠️ User Controls Moving Average Length: Adjust trend sensitivity by length (default: 50) Slope Sensitivity: Tune how steep a trend needs to be to qualify ATR/Range Threshold: Calibrate what defines a volatile enough trend move Toggle Table On/Off: Keep the chart clean if needed 🧼 Clean Visuals No lines, no bands, no background colors. Just a concise table in the top-right corner. Perfect for scalpers, swing traders, or overlaying on busy strategies. 🔄 Real-Time + Historical The script dynamically updates with every bar, so it works in real time and shows accurate historical context across any symbol or timeframe. If you’re someone who wants a minimalist yet powerful insight into market context, this tool can be a game-changer.
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DocMarkets1 tarafından
Volume Range Profile with Fair Value (Zeiierman)█ Overview The Volume Range Profile with Fair Value (Zeiierman) is a precision-built volume-mapping tool designed to help traders visualize where institutional-level activity is occurring within the price range — and how that volume behavior shifts over time. Unlike traditional volume profiles that rely on fixed session boundaries or static anchors, this tool dynamically calculates and displays volume zones across both the upper and lower ends of a price range, revealing point-of-control (POC) levels, directional volume flow, and a fair value drift line that updates live with each candle. You’re not just looking at volume anymore. You’re dissecting who’s in control — and at what price. ⚪ In simple terms: Upper Zone = The upper portion of the price range, showing concentrated volume activity — typically where selling or distribution may occur Lower Zone = The lower portion of the price range, highlighting areas of high volume — often associated with buying or accumulation POC Bin = The bin (price level) with the highest traded volume in the zone — considered the most accepted price by the market Fair Value Trend = A dynamic trend line tracking the average POC price over time — visualizing the evolving fair value Zone Labels = Display real-time breakdown of buy/sell volume within each zone and inside the POC — revealing who’s in control █ How It Works ⚪ Volume Zones Upper Zone: Anchored at the highest high in the lookback period Lower Zone: Anchored at the lowest low in the lookback period Width is user-defined via % of range Each zone is divided into a series of volume bins ⚪ Volume Bins (Histograms) Each zone is split into N bins that show how much volume occurred at each level: Taller = More volume The POC bin (Point of Control) is highlighted Labels show % of volume in the POC relative to the whole zone ⚪ Buy vs Sell Breakdown Each volume bin is split by: Buy Volume = Close ≥ Open Sell Volume = Close < Open The script accumulates these and displays total Buy/Sell volume per zone. ⚪ Fair Value Drift Line A POC trend is plotted over time: Represents where volume was most active across each range Color changes dynamically — green for rising, red for falling Serves as a real-time fair value anchor across changing market structure █ How to Use ⚪ Identify Key Control Zones Use Upper/Lower Zone structures to understand where supply and demand is building. Zones automatically adapt to recent highs/lows and re-center volume accordingly. ⚪ Follow Institutional Activity Watch for POC clustering near price tops or bottoms. Large volumes near extremes may indicate accumulation or distribution. ⚪ Spot Fair Value Drift The fair value trend line (average POC price) gives insight into market equilibrium. One strategy can be to trade a re-test of the fair value trend, trades are taken in the direction of the current trend. █ Understanding Buy & Sell Volume Labels (Zone Totals) These labels show the total buy and sell volume accumulated within each zone over the selected lookback period: Buy Vol (green label) → Total volume where candles closed bullish Sell Vol (red label) → Total volume where candles closed bearish Together, they tell you which side dominated: Higher Buy Vol → Bullish accumulation zone Higher Sell Vol → Bearish distribution zone This gives a quick visual insight into who controlled the zone, helping you spot areas of demand or supply imbalance. █ Understanding POC Volume Labels The POC (Point of Control) represents the price level where the most volume occurred within the zone. These labels break down that volume into: Buy % – How much of the volume was buying (price closed up) Sell % – How much was selling (price closed down) Total % – How much of the entire zone’s volume happened at the POC Use it to spot strong demand or supply zones: High Buy % + High Total % → Strong buying interest = likely support High Sell % + High Total % → Strong selling pressure = likely resistance It gives a deeper look into who was in control at the most important price level. █ Why It’s Useful Track where fair value is truly forming Detect aggressive volume accumulation or dumping Visually split buyer/seller control at the most relevant price levels Adapt volume structures to current trend direction █ Settings Explained Lookback Period: Number of bars to scan for highs/lows. Higher = smoother zones, Lower = reactive. Zone Width (% of Range): Controls how much of the range is used to define each zone. Higher = broader zones. Bins per Zone: Number of volume slices per zone. Higher = more detail, but heavier on resources. ----------------- Disclaimer The content provided in my scripts, indicators, ideas, algorithms, and systems is for educational and informational purposes only. It does not constitute financial advice, investment recommendations, or a solicitation to buy or sell any financial instruments. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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Zeiierman tarafından
12
Closing Range BreakoutIndicator Description: This tool tracks the closing price range of a trading session (like New York or London market hours) and highlights potential breakout opportunities. It shows: Extended Range Lines: Drawn after the session closes, marking the high/low of the session's final hour. Breakout Arrows: Appear when prices close above/below the range for a user-defined number of consecutive bars. Session Background: Gray highlight during the selected market's closing hour. It helps traders spot momentum shifts by focusing on price behavior relative to the closing range, with customizable alerts for confirmed breakouts. How to Use: Select Session: Choose your market's closing hour (e.g., New York/London). Set Confirmation: Adjust how many closes are needed to confirm a breakout. Watch Visuals: Gray background = Active closing session Blue range = Extended high/low from last session Arrows = First breakout signal Trade Signals: Price closing outside the range triggers alerts (labels update automatically). Focus on breakouts with momentum, using the range as support/resistance.
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JhaloDioh tarafından