Multi Deviation VWAP [OmegaTools]The Multi Deviation VWAP is an original variation of the traditional VWAP indicator, designed to enhance your trading experience by providing more precise market insights. While the conventional VWAP calculates a single price level based on volume and price over a given period, the Multi Deviation VWAP goes a step further by introducing dynamic upper and lower bands that adapt to market conditions. These bands give traders a more comprehensive understanding of volatility and price action, making it an ideal tool for various trading strategies, especially for identifying potential price reversals or trend continuations.
Key Features:
Separate Calculation of Deviation Bands:
Unlike traditional VWAP bands, where both the upper and lower bands are symmetrically calculated using a single deviation value, the Multi Deviation VWAP calculates the deviations independently for the upper and lower bands. This allows for a more accurate reflection of market dynamics.
The upper deviation band is based on the average distance of closing prices above the VWAP, while the lower deviation band considers the average distance of closing prices below the VWAP.
This separation provides a more tailored approach, adapting to whether the market is showing bullish or bearish momentum, as opposed to a fixed, equal deviation in both directions.
Internal and External Bands:
Two sets of deviation bands are plotted: Internal Bands and External Bands, controlled by user inputs (factorone for internal and factortwo for external). These bands offer multiple levels of support and resistance based on market volatility.
The Internal Bands are closer to the VWAP and act as the first level of support/resistance, suitable for short-term or tighter trading ranges.
The External Bands are further from the VWAP and capture more significant market swings, useful for identifying larger trends or setting wider stop-losses.
Timeframe Flexibility:
The indicator allows traders to select the desired timeframe (1D by default) over which the VWAP and its deviation bands are calculated. This flexibility enables users to adapt the indicator to different trading styles, from intraday scalping to longer-term trend analysis.
Visual Enhancements:
Bullish and Bearish Colors: The bands are color-coded for quick visual interpretation. Bullish bands (lower deviations) are colored blue, while bearish bands (upper deviations) are colored red, making it easy to differentiate between market conditions at a glance.
Plot Fill: The area between the internal and external bands is shaded, providing clear visual zones of potential price containment, aiding in understanding the market structure and anticipating price movements.
How It Differs from a Standard VWAP:
Traditional VWAP provides a single price line that represents the volume-weighted average price over a given period, often used to identify general price trends.
In contrast, the Multi Deviation VWAP introduces upper and lower bands calculated separately based on price deviations above and below the VWAP, giving a more nuanced view of market volatility.
Symmetrical bands in traditional VWAP may not always accurately reflect the market's true behavior, especially in trending markets, where upward and downward price movements aren't always equal. By splitting the deviation calculations, this tool provides a more dynamic and realistic view of price action, adapting to whether the market is showing stronger upward or downward pressure.
Use Cases:
Trend Identification: The VWAP line acts as a central trend line, while the deviation bands offer levels of potential support and resistance. When price moves beyond the external bands, it may indicate overextension and potential reversal.
Volatility Trading: Traders can use the internal and external bands to set dynamic take-profit or stop-loss levels, allowing for flexible risk management depending on market conditions.
Range Trading: In consolidating markets, the Multi Deviation VWAP can help traders identify optimal buy and sell zones as the price oscillates between the upper and lower bands.
By incorporating independent deviation bands, this indicator provides traders with a more responsive tool that reflects market behavior more accurately, helping them make informed trading decisions with enhanced precision.
Komut dosyalarını "support resistance" için ara
Harish Algo 2The script "Harish Algo 2" is a Pine Script-based TradingView indicator that automatically identifies significant trendlines based on fractal points and tracks price interactions with those trendlines. Key features include:
Fractal Detection: The script identifies fractal highs and lows, using a configurable fractal period, to serve as pivot points for generating trendlines. Fractal highs are marked in blue, and fractal lows are marked in red.
Dynamic Trendlines: It draws trendlines between consecutive fractal points, with a limit on the maximum number of active trendlines. The trendlines can be extended either in both directions or to the right, as per user input. The line width can also be customized.
Support/Resistance Counting: Each trendline tracks how many times the price interacts with it. If the price approaches the line from above and touches or stays near it, the line is considered a support. If the price approaches from below, it is considered a resistance. These counts are used to modify the trendline's color and appearance.
Trendlines with 2 support interactions turn green.
Trendlines with 2 resistance interactions turn red.
Trendlines with 3 or more interactions turn black.
Trendline Styling: Trendlines that extend over a long period (more than 100 bars) change to a dotted style to highlight their persistence.
Break Detection: The script monitors if the price crosses a trendline, signaling a potential breakout or breakdown. Once a trendline is broken, it stops extending further.
Trendline Removal: The script ensures that only a limited number of trendlines are active at a time. If the maximum number of trendlines is reached, the oldest trendline is removed to make space for new ones.
This indicator is designed to help traders visualize important trendlines, spot potential support and resistance levels, and detect breakouts or breakdowns based on price movement.
Artaking 2Components of the Indicator:
Moving Averages:
Short-Term Moving Average (MA): This is a 50-period Simple Moving Average (SMA) applied to the closing price. It is used to track the short-term trend of the market.
Long-Term Moving Average (MA): This is a 200-period SMA used to track the long-term trend.
Day Trading Moving Average: A 20-period SMA is used specifically for day trading signals, focusing on shorter-term price movements.
Purpose:
The crossing of these moving averages (short-term crossing above or below long-term) provides basic buy and sell signals, indicative of potential trend reversals or continuations.
ADX (Average Directional Index) for Trend Strength:
ADX Calculation: The ADX is calculated using a 14-period length with 14-period smoothing. The ADX value indicates the strength of a trend, regardless of direction.
Strong Trend Condition: The indicator considers a trend to be strong if the ADX value is above 25. This threshold helps filter out trades during weak or sideways markets.
Purpose:
To ensure that the strategy only generates signals when there is a strong trend, thus avoiding whipsaws in low volatility or range-bound conditions.
Support Levels:
Support Level Calculation: The indicator calculates the lowest close over the last 100 periods. This level is used to identify significant support zones where the price might find a floor.
Purpose:
Support levels are critical in identifying potential areas where the price might bounce, making them ideal for setting stop losses or identifying buy opportunities.
Volatility Spike (Proxy for News Trading):
ATR (Average True Range) Calculation: The indicator uses a 14-period ATR to measure market volatility. A volatility spike is identified when the ATR is greater than 1.5 times the 14-period SMA of the ATR.
Purpose:
This serves as a proxy for news events or other sudden market movements that could make the market unpredictable. The indicator avoids generating signals during these periods to reduce the risk of being caught in a volatile, potentially news-driven move.
Fibonacci Retracement Levels:
61.8% Fibonacci Level: Calculated from the highest high and lowest low over the long MA period, this retracement level is widely regarded as a significant support or resistance level.
Purpose:
Position traders often use Fibonacci levels to identify potential reversal points. The indicator incorporates the 61.8% level to fine-tune entries and exits.
Candlestick Patterns for Price Action Trading:
Bullish Engulfing Pattern: A bullish reversal pattern where a green candle fully engulfs the previous red candle.
Bearish Engulfing Pattern: A bearish reversal pattern where a red candle fully engulfs the previous green candle.
Purpose:
These patterns are classic signals used in price action trading to identify potential reversals at key levels, especially when they align with other conditions like support/resistance or Fibonacci levels.
Signal Generation:
The indicator generates buy and sell signals by combining the above elements:
Buy Signal:
A buy signal is triggered when:
The short-term MA crosses above the long-term MA (indicating a potential uptrend).
The trend is strong (ADX > 25).
The current price is near or below the 61.8% Fibonacci retracement level, suggesting a potential reversal.
No significant volatility spike is detected, ensuring the market isn’t reacting unpredictably to news.
Sell Signal:
A sell signal is triggered when:
The short-term MA crosses below the long-term MA (indicating a potential downtrend).
The trend is strong (ADX > 25).
The current price is near or above the 61.8% Fibonacci retracement level, suggesting potential resistance.
No significant volatility spike is detected.
Day Trading Signals:
Independent of the main trend signals, the indicator also generates intraday buy and sell signals when the price crosses above or below the 20-period day trading MA.
Price Action Signals:
The indicator can trigger buy or sell signals based purely on price action, such as the occurrence of bullish or bearish engulfing patterns. This is optional and can be enabled or disabled.
Alerts:
The indicator includes built-in alert conditions that notify the trader when a buy or sell signal is generated. This allows traders to act immediately without having to constantly monitor the charts.
Practical Application:
This indicator is versatile and can be used across various trading styles:
Position Trading: The long-term MA, Fibonacci retracement, and ADX provide a solid foundation for identifying long-term trends and potential entry/exit points.
Day Trading: The short-term MA and day trading MA offer quick signals for intraday trading.
Price Action: Candlestick pattern recognition allows for precise entry points based on market sentiment and behavior.
News Trading: The volatility spike filter helps avoid trading during periods of market instability, often driven by news events.
Conclusion:
The Comprehensive Trading Strategy Indicator is a robust tool designed to help traders navigate various market conditions by integrating multiple strategies into a single, coherent framework. It provides clear, actionable signals while filtering out potentially dangerous trades during volatile or weak market conditions. Whether you're a long-term trader, a day trader, or someone who relies on price action, this indicator can be a valuable addition to your trading toolkit.
Previous Highs & Lows [LuxAlgo]The Previous Highs & Lows indicator highlights a user-set amount of previous maximum/minimum prices made within specific intervals, these are displayed as levels customizable levels.
Additionally, one upper and lower zone constructed from the previously displayed highs/lows is included, providing support/resistance areas.
🔶 USAGE
Previous highs/lows are often perceived as key trading levels with the potential of generating multiple reactions upon being reached.
While the daily interval is more commonly used, users can use different intervals, with the indicator supporting hourly, daily, weekly, monthly, and yearly intervals. Using higher intervals on low timeframes can return more distant levels relative to the most recent price, which might not be relevant.
Each level is numbered, with more recent previous highs/lows having a lower number associated with them, users can also highlight more recent levels through a transparency gradient.
Users can control the amount of previous highs/lows displayed using the "Show Last" settings, with a higher value providing more potential support/resistance. Returned previous highs/lows can eventually be filtered out based on their position by enabling the "Filter Based On Position" setting, only keeping previous highs above the current closing price and previous lows below the current closing price, giving more relevant levels as a result.
🔹 Previous High/Low Areas
The indicator includes two areas constructed from the respective percentiles of the returned previous highs/lows. These can be useful as more general support/resistance areas.
Wider areas are often indicative of a group of previous highs or lows being more dispersed, resulting in areas that are easier to reach. Wider areas can also be obtained by increasing the "Areas Width" setting.
Note: Areas will only be displayed if "Show Last" is greater than 1
🔶 SETTINGS
Show Last: Determines the amount of more recent previous highs and previous low levels displayed by the indicator.
Interval: Interval used to capture maximum/minimum price values,
Areas Width: Width of the displayed top/bottom areas, with higher values returning wider areas.
Filter Based On Position: When enabled only display previous highs above the current closing price and previous lows below the current closing price.
🔹 Style
Minimum Gradient Transparency: Minimum transparency value applied to the colors of the oldest displayed previous highs/lows levels.
Market Structure Targets Model [LuxAlgo]The Market Structure Targets Model indicator provides an algorithmic approach to setting targets from market structure shifts (MSS) and market structure breaks (MSB), two popular Smart Money Concept (SMC) concepts. Depending on the target % settings, they can be used as take profit, confirmation levels, or potential reversal points.
🔶 USAGE
Our Market Structure Targets Model scripts provide automated and customizable targets from MSS and MSB. Each displayed target can be used in several ways described in the sub-sections below:
🔹 Take Profit
The targets can be used as take profit levels, where the target distance can be set separately for bullish/bearish MSS/MSB respectively.
🔹 Confirmation Levels
Alternatively, targets can be used as an additional confirmation level of a trend reversal when set at a lower percentage, filtering out fake signals that might be given from market structures. In this way, targets can be used as potential entry levels.
🔹 Potential Reversal Points
In some circumstances, targets being reached can be indicative of trend reversals. The percentage of the targets would be typically set higher to allow for trend exhaustion.
The above examples highlight this usage for bearish reversal scenarios, while the image below highlights it for bullish reversal scenarios.
🔹 Support/Resistance Levels
The targets, being horizontal levels, can also serve as potential support/resistances, with breakouts potentially confirming new trends. It is important to remain observant of the market structure. An MSS or MSB in the opposite direction provides essential information to be included in future decisions.
Using multiple timeframes can help detect longer-term trends. Depending on the user's preference, they can choose the appropriate timeframe for their needs.
Note that Target lines will only be drawn when the Target Level exceeds the close value when it is drawn.
🔹 Maximum Target Duration
The Maximum Target Duration setting removes unreached target levels when the amount of bars since the associated market structure of that target exceeds the user set limit. This effectively allows the removal of any target that might no longer be relevant to newer trends.
🔹 Type: Switch/Hold
This setting is another way to control unreached target levels.
Switch: When a new MSS/MSB is found, the previous target level associated with a market structure with the same direction (bullish/bearish) is deleted if it hasn't been reached.
Hold: Target levels are retained and continuously evaluated when a new MSS/MSB is formed.
The target level will be removed in both cases when the Maximum Target Duration condition is applied.
The above example shows the case when the Type setting is set to Switch , while in the example below, it is set to Hold .
🔶 DETAILS
🔹 Market Structure
Market structures are commonly classified as follows:
Market Structure Shift (MSS), also referred to as Change of Character (CHoCH)
Market Structure Break (MSB), also referred to as Break of Structure (BOS)
MSS indicates a shift in the market trend, confirming trend reversals. Conversely, MSB occurs once a trend is already determined, confirming new higher highs/lower lows.
🔹 Targets
A: Highest/lowest between the extremities of the MSS/MSB line
B: Price value of the MSS/MSB line
The distance between A and B is projected on the opposite side of the MSS/MSB line, adjusted with a percentage that can be set by the user. The above example used 100% of the distance between A and B.
The Target Percentage of MSS and MSB can be set separately for bullish or bearish market structures.
🔶 SETTINGS
Swings: Period used for the swing detection, with higher values returning longer-term Swing Levels.
Type: the Switch/Hold setting controls unattained target levels
Maximum Target Duration: removes the target lines when the amount of bars since the drawing of the target exceeds the limit and the target has not been reached
🔹 Market Structure Shift (MSS)
Bullish: Toggle, color setting, % Target
Bearish: Toggle, color setting, % Target
🔹 Market Structure Break (MSB)
Bullish: Toggle, color setting, % Target
Bearish: Toggle, color setting, % Target
Dynamic Order Blocks [LuxAlgo]The Dynamic Order Blocks indicator displays the most recent unmitigated bullish and bearish order blocks on the chart, providing dynamic support/resistance areas.
When price sweeps an order block, this is highlighted by the script indicating a potential reversal.
The average between the displayed order blocks is also displayed.
🔶 USAGE
Order blocks are a popular method of price action analysis, representing price areas where more significant market participants accumulate their orders.
Displaying order blocks dynamically allows obtaining relevant areas of support/resistance. Users can obtain longer-term order blocks using a higher "Swing Lookback" setting.
Users can also use mitigation events to assess the current trend direction, with price mitigating a bearish order block (breaking above the upper extremity) indicating an uptrend, and price mitigating a bullish order block (breaking below the lower extremity) indicating a downtrend.
🔹 Average Level
An average level obtained from the displayed bullish and bearish order blocks is included in the indicator and offers an additional polyvalent dynamic support/resistance level.
The change of direction of the average line can also be indicative of the current trend direction.
🔹 Dynamic Sweeps
Price sweeping the mitigation level of an order block is highlighted on the chart using bordered rectangles. These highlight a breakout failure and can be indicative of a potential reversal.
🔶 SETTINGS
Swing Lookback: Period of the swing detection used to construct order blocks. Higher values will return longer-term order blocks.
Use Candle Body: Use the candle body as the order block area instead of the candle full range.
Periodic OHLHere is another experience on working with 'time' variable :)
This script generates potential support and resistance levels based on daily, weekly, and monthly open, high, and low prices. In such indicators, security calls produce effective results. However, similar tasks can also be performed by built-in variables. This script serves as an example of how alternative methods can be constructed.
The originality of the indicator is based on its ability to visualise the current open, high and low prices from the bar at which they occur. You can also display levels simultaneously.
I hope it helps everyone...
DISCLAIMER
This is just an indicator, nothing more. It is provided for informational and educational purposes exclusively. The utilization of this script does not constitute professional or financial advice. The user solely bears the responsibility for risks associated with script usage. Do not forget to manage your risk. And trade as safely as possible. Best of luck!
Psychological Support/Resistence [BigBeluga]The Psychological Support/Resistance indicator aims to provide the user with hypothetical support and resistance zones that are likely to provoke a strong reaction in price, either in both directions, providing good bouncing zones or significant movements once those levels are breached.
🔶 CALCULATION
The script takes into consideration the total number of sequential candles moving in the same direction, as determined by the user's settings. When this sequence is identified, a level is created.
A level is considered broken when the candle's close is above the top/bottom of the level.
Users have the option to select the width of the area based on the Average (AVG), Open, or Close.
AVG will provide the average width of the level of the area.
Close will offer a broader range to work with.
Open will provide a very narrow area.
🔶 METHODOLOGY
The idea behind these areas is that the price will be more likely to produce either a substantial move in the ongoing direction or, when breached, a strong price reaction.
The more the support level is touched or tested, the more likely it is to break.
The longer it has been since its creation and the less it has been tested, the more likely it is to offer strong support or resistance.
Wicks starting to close above the level will indicate a potential breakout to the upside or downside if a candle manages to close above it.
🔶 INPUTS
Users have the option to determine the number of sequential candles.
Users also have the option to decide how many zones to display on the chart.
Color changes are possible.
The possibility to show volume on the creation of the zone is included."
Buyside & Sellside Liquidity [LuxAlgo]The Buyside & Sellside Liquidity indicator aims to detect & highlight the first and arguably most important concept within the ICT trading methodology, Liquidity levels.
🔶 SETTINGS
🔹 Liquidity Levels
Detection Length: Lookback period
Margin: Sets margin/sensitivity for a liquidity level detection
🔹 Liquidity Zones
Buyside Liquidity Zones: Enables display of the buyside liquidity zones.
Margin: Sets margin/sensitivity for the liquidity zone boundaries.
Color: Color option for buyside liquidity levels & zones.
Sellside Liquidity Zones: Enables display of the sellside liquidity zones.
Margin: Sets margin/sensitivity for the liquidity zone boundaries.
Color: Color option for sellside liquidity levels & zones.
🔹 Liquidity Voids
Liquidity Voids: Enables display of both bullish and bearish liquidity voids.
Label: Enables display of a label indicating liquidity voids.
🔹 Display Options
Mode: Controls the lookback length of detection and visualization, where Present assumes last 500 bars and Historical assumes all data available to the user
# Visible Levels: Controls the amount of the liquidity levels/zones to be visualized.
🔶 USAGE
Definitions of Liquidity refer to the availability of orders at specific price levels in the market, allowing transactions to occur smoothly.
In the context of Inner Circle Trader's teachings, liquidity mainly relates to stop losses or pending orders and liquidity level/pool, highlighting a concentration of buy or sell orders at specific price levels. Smart money traders, such as banks and other large institutions, often target these liquidity levels/pools to accumulate or distribute their positions.
There are two types of liquidity; Buyside liquidity and Sellside liquidity .
Buyside liquidity represents a level on the chart where short sellers will have their stops positioned, and Sellside liquidity represents a level on the chart where long-biased traders will place their stops.
These areas often act as support or resistance levels and can provide trading opportunities.
When the liquidity levels are breached at which many stop/limit orders are placed have been traded through, the script will create a zone aiming to provide additional insight to figure out the odds of the next price action.
Reversal: It’s common that the price may reverse course and head in the opposite direction, seeking liquidity at the opposite extreme.
Continuation: When the zone is also broken it is a sign for continuation price action.
It's worth noting that ICT concepts are specific to the methodology developed by Michael J. Huddleston and may not align with other trading approaches or strategies.
🔶 DETAILS
Liquidity voids are sudden changes in price when the price jumps from one level to another. Liquidity voids will appear as a single or a group of candles that are all positioned in the same direction. These candles typically have large real bodies and very short wicks, suggesting very little disagreement between buyers and sellers. The peculiar thing about liquidity voids is that they almost always fill up.
🔶 ALERTS
When an alert is configured, the user will have the ability to be notified in case;
Liquidity level is detected/updated.
Liquidity level is breached.
🔶 RELATED SCRIPTS
ICT-Concepts
ICT-Macros
Imbalance-Detector
Bar Move Probability (BMP)Hello fellow traders! I am excited to share with you my latest creation, the Bar Move Probability (BMP) indicator. This powerful tool is designed to give you a statistical edge in your trading by helping you understand the likelihood of price movements based on historical data. In this blog post, I'll give you an overview of the indicator, its features, and how it can help you make more informed trading decisions. Let's dive in!
What is the Bar Move Probability Indicator?
The Bar Move Probability (BMP) indicator is a unique tool that calculates the probability of a bar's price movement, either up or down, based on past occurrences of similar price movements. This can give you valuable insights into the potential direction of the market, allowing you to make better-informed trading decisions.
One of the key features of the BMP indicator is that it allows you to choose the price you want to determine the probability of. By inputting your desired price, the indicator will analyze historical data and provide you with the likelihood of reaching that price, offering a more personalized approach to trading.
How Does the BMP Indicator Work?
The BMP indicator calculates the probability of a bar's price movement by comparing the current price change (in percentage) to historical price changes. It does this by maintaining separate arrays for green (bullish) and red (bearish) price movements, as well as corresponding arrays for the count of each movement.
Whenever a new bar is formed, the indicator checks whether the price movement (in percentage) is already present in the respective array. If it is, the corresponding count is updated. Otherwise, a new entry is added to the array, with an initial count of 1.
After analyzing the historical data, the BMP indicator calculates the probability of each price movement by dividing the count of each movement by the sum of all counts. These probabilities are then stored in separate arrays for green and red movements.
Finally, the indicator displays the probability of the current price movement as a label on the chart. The label is color-coded, with green indicating a bullish price movement and red indicating a bearish price movement.
How Can the BMP Indicator Benefit Your Trading?
The primary benefit of the BMP indicator is its ability to provide you with a statistical edge in your trading. By analyzing historical price data, the indicator helps you understand the likelihood of a certain price movement occurring, allowing you to make more informed decisions about your trades.
The customizable nature of the BMP indicator, allowing you to input your desired price, makes it a valuable tool for traders with specific price targets in mind. By understanding the probability of reaching your target price, you can better manage your risk and optimize your trading strategy.
For example, suppose the BMP indicator shows a high probability of a bullish price movement towards your target price. In that case, you may consider entering a long position or tightening your stop loss on an existing short position. Conversely, if the indicator displays a high probability of a bearish price movement away from your target price, you may consider entering a short position or taking profit on an existing long position.
The BMP indicator can be used in conjunction with other technical analysis tools and indicators to further strengthen your trading strategy. For example, you can combine the BMP indicator with support and resistance levels, trend lines, and moving averages to better time your entries and exits.
Wrapping Up
In conclusion, the Bar Move Probability (BMP) indicator is a powerful and customizable tool that can help you gain a statistical edge in your trading. By analyzing historical price data and allowing you to input your desired price, the indicator provides valuable insights into the likelihood of price movements, enabling you to make better-informed trading decisions.
I hope you find the BMP indicator useful
RSI + MA, LinReg, ZZ (HH HL LH LL), Div, Ichi, MACD and TSI HistRelative Strength Index with Moving Average, Linear Regression, Zig Zag (Highs and Lows), Divergence, Ichimoku Cloud, Moving Average Convergence Divergence and True Strength Index Histogram
This script is based on zdmre's RSI script, I revamped a lot of things and added a few indicators from ParkF's RSI script.
Disable Labels in the Style tab and the histogram if you don't enlarge the indicator and it seems too small.
Look to buy in the oversold area and bounce of the support of the linear regression.
Look to sell in the overbought area and bounce of the resistance of the linear regression.
Look for retracement to the moving average or horizontal lines, and divergences for potential reversal.
RSI
The Relative Strength Index (RSI) is a well versed momentum based oscillator which is used to measure the speed (velocity) as well as the change (magnitude) of directional price movements.
Moving Average
Moving Average (MA) is a good way to gauge momentum as well as to confirm trends, and define areas of support and resistance.
Linear Regression
The Linear Regression indicator visualizes the general price trend of a specific part of the chart based on the Linear Regression calculation.
Zig Zag (Highs and Lows)
The Zig Zag indicator is used to identify price trends, and in doing so plots points on the chart to mark whenever prices reverse by a larger percentage point than a predetermined variable or marker.
Divergence
The divergence indicator warns traders and technical analysts of changes in a price trend, oftentimes that it is weakening or changing direction.
Ichimoku Cloud
The Ichimoku Cloud is a package of multiple technical indicators that signal support, resistance, market trend, and market momentum.
MACD and TSI Histogram
MACD can be used to identify aspects of a security's overall trend.
The True Strength Index indicator is a momentum oscillator designed to detect, confirm or visualize the strength of a trend.
Gann Square of 144This indicator will create lines on the chart based on W.D. Gann's Square of 144. All the inputs will be detailed below
Why create this indicator?
I didn't find it on Tradingview (at least with open source). But the main reason is to study the strategy and be able to draw it fast. Manually drawing the square is not hard, but moving all together to the right spots and scale was time-consuming.
It has a lot of inputs...
Yes, each square point divisible by 6 has information with some options, so the user can create any configuration he wants. Also, it has the advantage of having the square built in seconds and adjusting itself on each new calculation.
About the inputs
Starting Date
This input will be used when the "Set Upper/Lower Prices and Start Bar Automatically" checkbox is not selected. The indicator will calculate all the line locations on the chart using the selected start date. When selecting this input, change the Manual Max and Min Prices to the better calculation
Manual Max/Min Price
This input will be used when the "Set Upper/Lower Prices and Start Bar Automatically" checkbox is not selected. The indicator will calculate all the line's locations on the chart using these prices
Set Upper/Lower Prices and Start Bar Automatically
Selects if the starting date will be automatically selected by the system or based on the input data. When it's set, the indicator will use the most recent bar as the middle point of the square, using the higher price as the Upper Price and the lowest price as the Lower Price in the latest 72 bars (or more based on the Candles Per Division parameter)
Update at a new bar
When this option is market, the indicator will update all created lines to match the new bar position, together with all the possible new Upper/Lower prices. Let it unchecked to watch the progression of the price while the square remains fixed in the chart.
Top X-Axis
When checked, it will display the labels on the Top of the square
Bottom X-Axis
When checked, it will display the labels on the Bottom of the square
Left X-Axis
When checked, it will display the labels on the left of the square
Right X-Axis
When checked, it will display the labels on the right of the square
Show Prices on the Right Y-Axis
When checked, it will display the prices together with the labels on the right of the square
Show Vertical Divisions
Show the lines that will divide the square into 9 equal parts
Show Extra Lines
Show unique lines that will come from the Top and bottom middle of the square, connecting the center to the 36 and 108 levels
Show Grid
When selected, it will display a grid in the square
Line Patterns
A selector with some options of built-in lines configuration. When any option besides None is selected, it will override the lines inputs below
Numbers Color
Select the color of each number on the Axis
Vertical Lines Color
Select the color of the vertical lines
Grid Color
Select the grid line color
Connections from corners to N
Each corner is represented by 2 characters, so they all fit in a single line
It will indicate where the line starts and where it ends
┏ ↓ = Top Left to Bottom
┏ → = Top Left to Right
┗ ↑ = Bottom Left to Top
┗ → = Bottom Left to Right
┓ ← = Top Right to Left
┓ ↓ = Top Right to Bottom
┛ ← = Bottom Right to Left
┛ ↑ = Bottom Right to Top
Besides selecting what line will be created, it's possible to select the color, the style, and the extension
How to use this indicator
When you dig into Gann's books for more information about the square of 144, you find that it was part of his setup with multiple indicators (technical and fundamental, and astrological). It is not a "one indicator" setup, so it's hard to say that you will find entries, exits, stop loss, and take profit in this. Still, it will help see trendiness, support, and resistance levels.
Mixing this with other indicators is probably a good idea, but some may find this indicator the only one needed.
Some aspects of the square
The end of the square is important, so where it starts is crucial. The end is important because it is where the price and time expire. The other parts of the square are defined based on their start and end, so placing them right is essential.
So, where to set the start of the square?
The last major low is the most indicated. The minimum price will be the lowest, and the max price will be the last major Top. Note that the indicator uses 1 candle on each point.
After finding the start, the minimum, and the maximum prices for the square, it will draw all lines. Another essential part of the square is The Midpoint.
The midpoint is the most crucial part of the square and is the best way to see if you positioned the square correctly. When the price is inside the square, using the starting candle as the start, a second higher low or a lower high occurs in that spot. When using the Vertical lines in the indicator, it's the middle square inside Gann's square.
The other divisions will be opposing each other most of the time. So if the price is rising in the 1/3 of the square, it's common to see the price fall in the 3/3 of the square.
More information about these aspects here
Considerations
This indicator was meant for price targets and a time calculator for possible support/resistances in the chart. It was created by William Delbert Gann and was part of his setup for trading almost a century ago. The lines will form geometric figures, which Gann used with high accuracy to predict tops/bottoms and when they would occur.
Copy/Paste LevelsCopy/Paste Levels allows levels to be pasted onto your chart from a properly formatted source.
This tool streamlines the process of adding lines to your chart, and sharing lines from your chart.
More than one ticker at a time!
This indicator will only draw lines on charts it has values for!
This means you can input levels for every ticker you need all at once, one time, and only be displayed the levels for the current chart you are looking at. When you switch tickers, the levels for that ticker will display. (Assuming you have levels entered for that ticker)
The formatting is as follows:
Ticker,Color,Style,Width,Lvl1,Lvl2,Lvl3;
Ticker - Any ticker on Tradingview can be used in the field
Color - Available colors are: Red,Orange,Yellow,Green,Blue,Purple,White,Black,Gray
Style - Available styles are: Solid,Dashed,Dotted
Width - This can be any negative integer, ex.(-1,-2,-3,-4,-5)
Lvls - These can be any positive number (decimals allowed)
Semi-Colons separate sections, each section contains enough information to create at least 1 line.
Each additional level added within the same section will have the same styling parameters as the other levels in the section.
Example:
2 solid lines colored red with a thickness of 2 on QQQ, 1 at $300 and 1 at $400.
QQQ,RED,SOLID,-2,300,400;
IMPORTANT MUST READ!!!
Remember to not include any spaces between commas and the entries in each field!
ex. ; QQQ, red, dotted, -1, 325; <- Wrong
ex. ;QQQ,red,dotted,-1,325;)<- Right
However,
All fields must be filled out, to use default values in the fields, insert a space between the commas.
ex. ;QQQ,red,dotted,,325; <- Wrong
ex. ;QQQ,red,dotted, ,325; <- Right
While spaces can not be included line breaks can!
I recommend for easier typing and viewing to include a line break for each new line (if changing styling or ticker)
Example:
2 solid lines, one red at $300, one green at $400, both default width. Written in a single line AND using multiple lines, both give the same output.
QQQ,red,solid, ,300;QQQ,green,solid, ,400;
or
QQQ,red,solid, ,300;
QQQ,green,solid, ,400;
In this following screenshot you can see more examples of different formatting variations.
The textbox contains exactly what is pasted into the settings input box.
As you can see, capitalization does not matter.
Default Values:
Color = optimal contrast color, If this field is filled in with a space it will display the optimal contrast color of the users background.
Style = solid
Width = -1
More Examples:
Multi-Ticker: drawing 3 lines at $300, all default values, on 3 different tickers
SPY, , , ,300;QQQ, , , ,300;AAPL, , , ,300
or
SPY, , , ,300;
QQQ, , , ,300;
AAPL, , , ,300
Multiple levels: There is no limit* to the number of levels that can be included within 1 section.
* only TV default line limit per indicator (500)
This will be 4 lines all with the same styling at different values on 2 separate tickers.
SPY,BLUE,SOLID,-2,100,200,300,400;QQQ,BLUE,SOLID,-2,100,200,300,400
or
SPY,BLUE,SOLID,-2,100,200,300,400;
QQQ,BLUE,SOLID,-2,100,200,300,400
Semi-colons must separate sections, but are not required at the beginning or end, it makes no difference if they are or are not added.
SPY,BLUE,SOLID,-2,100,200,300,400;
QQQ,BLUE,SOLID,-2,100,200,300,400
==
SPY,BLUE,SOLID,-2,100,200,300,400;
QQQ,BLUE,SOLID,-2,100,200,300,400;
==
;SPY,BLUE,SOLID,-2,100,200,300,400;
QQQ,BLUE,SOLID,-2,100,200,300,400;
All the above output the same results.
Hope this is helpful for people,
Enjoy!
EMA Levels, Multi-TimeframeThe exponential moving average (EMA) tracks price over time, giving more importance to recent price data than simple moving average (SMA). EMAs for larger timeframes are generally considered to be stronger supports/resistances for price to move through than smaller timeframes. This indicator allows you to specify two different EMA lengths that you want to track. Additionally, this indicator allows you to display not just the EMA levels of your currently viewed timeframe on the chart, but also shows the EMA levels of up to 4 different timeframes on the same chart. This allows you to quickly see if multiple EMA levels are aligning across different timeframes, which is an even stronger indication that price is going to meet support or resistance when it meets those levels on the chart. There are a lot of nice configuration options, like:
Ability to customize the EMA lengths you want to track
Style customization (color, thickness, size)
Hide any timeframes/levels you aren't interested in
Labels on the chart so you can tell which plots are the EMA levels
Optionally display the plot as a horizontal line if all you care about is the EMA level right now
Liquidity Levels [LuxAlgo]The Peak Activity Levels indicator displays support and resistance levels from prices accompanied by significant volume. The indicator includes a histogram returning the frequency of closing prices falling between two parallel levels, each bin shows the number of bullish candles within the levels.
1. Settings
Length: Lookback for the detection of volume peaks.
Number Of Levels: Determines the number of levels to display.
Levels Color Mode: Determines how the levels should be colored. "Relative" will color the levels based on their location relative to the current price. "Random" will apply a random color to each level. "Fixed" will use a single color for each level.
Levels Style: Style of the displayed levels. Styles include solid, dashed, and dotted.
1.1 Histogram
Show Histogram: Determines whether to display the histogram or not.
Histogram Window: Lookback period of the histogram calculation.
Bins Colors: Control the color of the histogram bins.
2. Usage
The indicator can be used to display ready-to-use support and resistance. These are constructed from peaks in volume. When a peak occurs, we take the price where this peak occurred and use it as the value for our level.
If one of the levels was previously tested, we can hypothesize that the level might be used as support/resistance in the future. Additional analysis using volume can be done in order to confirm a potential bounce.
The histogram can return various information to the user. It can show if the price stayed within two levels for a long time and if the price within two levels was mostly made of bullish or bearish candles.
In the chart above, we can see that over the most recent 200 bars (determined by Histogram Window) 68 closing prices fall between levels A and B, with 27 bars being bullish.
Additionally, the width of a bin and its length can sometimes give information about the volatility of a specific price variation. If a bin is very wide but short (a low number of closing prices fallen within the levels) then we can conclude a most of the movement was done on a short amount of time.
[PX] Pivot ZonesHello everyone,
I was having some fun with the new gradient function, arrays and pivots. Decided that i would publish my little playground :)
This script basically draws lines or zones for detected pivot high and lows and counts the number of candles those levels have been untested.
Tested levels will stop at the candle, which breaks them.
How does it work?
- Define the number of candles that make up the pivot point with the "Pivot Left" and "Pivot Right" parameter (I took more extreme values to showcase the indicator).
- Select your "Layout Type": This can be either a line at the pivot point, a zone between the pivot point and its body or the average of the two.
- You can in-/decrease the number of lines with the "Number of Lines/Zones" parameter.
The older a line becomes the more it will lose of its original transparency.
Hope that might be useful to some of you :)
Please click the "Like"-button and follow me for future open-source script publications.
If you are looking for help with your custom PineScript development, don't hesitate to contact me directly here on Tradingview or through the link in my signature :)
[fikira] Bollinger Bands + Higher Time FramesHere is my take on BB and MTF, based on the most excellent work of
"PineCoders" (MTF Selection Framework functions)!
The big advantage is that on 1 image you can easily see where
price is compared to 5 or less BB Bands (each of different Time Frames).
This gives a lot of Support and Resistance area's!
Includes:
- 1 Bollinger Bands (can be enabled/disabled - "Bollinger Bands"
- 4 Bollinger Bands (each can be enabled/disabled - "HTF Selection 1-4")
Each BB has its colour (can be changed)
- Labels (Timeframe and price) can be enabled/disabled
- Labels position and size can be changed
...
5 MAs w. alerts [LucF]Is this gazillionth MA indicator worth an addition to the already crowded field of contenders? I say yes! This one shows up to 5 MAs and 6 different marker conditions that can be used to create alerts, among many other goodies.
Features
MAs can be darkened when they are falling.
MAs from another time frame can be displayed, with the option of smoothing them.
Markers can be filtered to Longs or Shorts only.
EMAs can be selected for either all or the two shortest MAs.
The background can be colored using any of the marker states except no. 3.
Markers are:
1. On crosses between any two user-defined MAs,
2. When price is above or below an MA,
3. On Quick Flips (a specific setup involving a cross, multiple MA states and increasing volume, when available),
4. When the difference between two MAs is within a % of its high/low historic values,
5. When an MA has been rising/falling for n bars,
6. When the difference between two MAs is greater than a multiple of ATR.
Some markers use similar visual cues, so distinguishing them will be a challenge if they are used concurrently.
Alerts
Alerts can be created on any combination of alerts. Only non-consecutive instances of markers 5 and 6 will trigger the alert condition. Make sure you are on the interval you want the alert to run at. Using the “Once Per Bar Close” trigger condition is usually the best option.
When an alert is created in TradingView, a snapshot of the indicator’s settings is saved with the alert, which then takes on a life of its own. That is why even though there is only one alert to choose from when you bring up the alert creation dialog box and choose “5 MAs”, that alert can be triggered from any number of conditions. You select those conditions by activating the markers you want the alert to trigger on before creating the alert. If you have selected multiple conditions, then it can be a good idea to record a reminder in the alert’s message field. When the alert triggers, you will need the indicator on the chart to figure out which one of your conditions triggered the alert, as there is currently no way to dynamically change the alert’s message field from within the script.
Background settings will not trigger alerts; only marker configurations.
Notes
MAs are just… averages. Trader lure would have them act as support and resistance levels. I’m not sure about that, and not the only one thinking along these lines. Adam Grimes has studied moving averages in quite a bit of detail. His numbers point to no evidence indicating they act as support/resistance, and to specific MA lengths not being more meaningful than others. His point of view is debated by some—not by me. Mean reversion does not entail that price stops when it reaches its MA; rather, it makes sense to me that price would often more or less oscillate around its MA, which entails the MA does not act as support/resistance. Aren’t the best mean reversion opportunities when price is furthest away from its MA? If so, it should be more profitable to identify these areas, which some of this indicator’s markers try to do.
I think MAs can be much more powerful when thought of as instruments we can use to situate price events in contexts of various resolutions, from the instantaneous to the big picture. Accordingly, I use the relative positions and slopes of MAs in both discretionary and automated trading; but never their purported ability to support/resist.
Regardless of how you use MAs, I hope you will find this indicator useful.
Biased References
The Art and Science of Technical Analysis: Market Structure, Price Action, and Trading Strategies, Adam Grimes, 2012.
Does the 200 day moving average “work”?
Moving averages: digging deeper
MIDAS VWAP Jayy his is just a bash together of two MIDAS VWAP scripts particularly AkifTokuz and drshoe.
I added the ability to show more MIDAS curves from the same script.
The algorithm primarily uses the "n" number but the date can be used for the 8th VWAP
I have not converted the script to version 3.
To find bar number go into "Chart Properties" select " "background" then select Indicator Titles and "Indicator values". When you place your cursor over a bar the first number you see adjacent to the script title is the bar number. Put that in the dialogue box midline is MIDAS VWAP . The resistance is a MIDAS VWAP using bar highs. The resistance is MIDAS VWAP using bar lows.
In most case using N will suffice. However, if you are flipping around charts inputting a specific date can be handy. In this way, you can compare the same point in time across multiple instruments eg first trading day of the year or an election date.
Adding dates into the dialogue box is a bit cumbersome so in this version, it is enabled for only one curve. I have called it VWAP and it follows the typical VWAP algorithm. (Does that make a difference? Read below re my opinion on the Difference between MIDAS VWAP and VWAP ).
I have added the ability to start from the bottom or top of the initiating bar.
In theory in a probable uptrend pick a low of a bar for a low pivot and start the MIDAS VWAP there using the support.
For a downtrend use the high pivot bar and select resistance. The way to see is to play with these values.
Difference between MIDAS VWAP and the regular VWAP
MIDAS itself as described by Levine uses a time anchored On-Balance Volume (OBV) plotted on a graph where the horizontal (abscissa) arm of the graph is cumulative volume not time. He called his VWAP curves Support/Resistance VWAP or S/R curves. These S/R curves are often referred to as "MIDAS curves".
These are the main components of the MIDAS chart. A third algorithm called the Top-Bottom Finder was also described. (Separate script).
Additional tools have been described in "MIDAS_Technical_Analysis"
Midas Technical Analysis: A VWAP Approach to Trading and Investing in Today’s Markets by Andrew Coles, David G. Hawkins
Copyright © 2011 by Andrew Coles and David G. Hawkins.
Denoting the different way in which Levine approached the calculation.
The difference between "MIDAS" VWAP and VWAP is, in my opinion, much ado about nothing. The algorithms generate identical curves albeit the MIDAS algorithm launches the curve one bar later than the VWAP algorithm which can be a pain in the neck. All of the algorithms that I looked at on Tradingview step back one bar in time to initiate the MIDAS curve. As such the plotted curves are identical to traditional VWAP assuming the initiation is from the candle/bar midpoint.
How did Levine intend the curves to be drawn?
On a reversal, he suggested the initiation of the Support and Resistance VVWAP (S/R curve) to be started after a reversal.
It is clear in his examples this happens occasionally but in many cases he initiates the so-called MIDAS S/R VWAP right at the reversal point. In any case, the algorithm is problematic if you wish to start a curve on the first bar of an IPO .
You will get nothing. That is a pain. Also in Levine's writings, he describes simply clicking on the point where a
S/R VWAP is to be drawn from. As such, the generally accepted method of initiating the curve at N-1 is a practical and sensible method. The only issue is that you cannot draw the curve from the first bar on any security, as mentioned without resorting to the typical VWAP algorithm. There is another difference. VWAP is launched from the middle of the bar (as per AlphaTrends), You can also launch from the top of the bar or the bottom (or anywhere for that matter). The calculation proceeds using the top or bottom for each new bar.
The potential applications are discussed in the MIDAS Technical Analysis book.
VWAP Breakout Strategy + EMAs + Clean Cycle/TP/SL PlotsHere’s a quick user-guide to get you up and running with your “VWAP Breakout Strategy + EMAs + Clean Cycle/TP/SL Plots” script in TradingView:
⸻
1. Installing the Script
1. Open TradingView, go to Pine Editor (bottom panel).
2. Paste in your full Pine-v6 code and hit Add to chart.
3. Save it (“Save as…”): give it a memorable name (e.g. “VWAP Breakout+EMAs”).
⸻
2. Configuring Your Inputs
Once it’s on the chart, click the ⚙️ Settings icon to tune:
Setting Default What it does
ATR Length 14 Period for average true range (volatility measure)
ATR Multiplier for Stop 1.5 How many ATRs away your stop-loss sits
TP1 / TP2 Multipliers (ATR) 1.0 / 2.0 Distance of TP1 and TP2 in ATR multiples
Show VWAP / EMAs On Toggles the blue VWAP line & EMAs (100/34/5)
Full Cycle Range Points 200 Height of the shaded “cycle zone”
Pivot Lookback 5 How many bars back to detect a pivot low
Round Number Step 500 Spacing of your dotted horizontal lines
Show TP/SL Labels On Toggles all the “ENTRY”, “TP1”, “TP2”, “STOP” tags
Feel free to adjust ATR multipliers and cycle-zone size based on the instrument’s typical range.
⸻
3. Reading the Signals
• Long Entry:
• Trigger: price crosses above VWAP
• You’ll see a green “Buy” tag at the low of the signal bar, plus an “ENTRY (Long)” label at the close.
• Stop is plotted as a red dashed line below (ATR × 1.5), and TP1/TP2 as teal and purple lines above.
• Short Entry:
• Trigger: price crosses below VWAP
• A red “Sell” tag appears at the high, with “ENTRY (Short)” at the close.
• Stop is the green line above; TP1/TP2 are dashed teal/purple lines below.
⸻
4. Full Cycle Zone
Whenever a new pivot low is detected (using your Pivot Lookback), the script deletes the old box and draws a shaded yellow rectangle from that low up by “Full Cycle Range Points.”
• Use this to visualize the “maximum expected swing” from your pivot.
• You can quickly see whether price is still traveling within a normal cycle or has overstretched.
⸻
5. Round-Number Levels
With Show Round Number Levels enabled, you’ll always get horizontal dotted lines at the nearest multiples of your “Round Number Step” (e.g. every 500 points).
• These often act as psychological support/resistance.
• Handy to see confluence with VWAP or cycle-zone edges.
⸻
6. Tips & Best-Practices
• Timeframes: Apply on any intraday chart (5 min, 15 min, H1…), but match your ATR length & cycle-points to the timeframe’s typical range.
• Backtest first: Use the Strategy Tester tab to review performance, tweak ATR multipliers or cycle size, then optimize.
• Combine with context: Don’t trade VWAP breakouts blindly—look for confluence (e.g. support/resistance zones, higher-timeframe trend).
• Label clutter: If too many labels build up, you can toggle Show TP/SL Labels off and rely just on the lines.
⸻
That’s it! Once you’ve added it to your chart and dialed in the inputs, your entries, exits, cycle ranges, and key levels will all be plotted automatically. Feel free to experiment with the ATR multipliers and cycle-zone size until it fits your instrument’s personality. Happy trading!
Volume Flow OscillatorVolume Flow Oscillator
Overview
The Volume Flow Oscillator is an advanced technical analysis tool that measures buying and selling pressure by combining price direction with volume. Unlike traditional volume indicators, this oscillator reveals the force behind price movements, helping traders identify strong trends, potential reversals, and divergences between price and volume.
Reading the Indicator
The oscillator displays seven colored bands that fluctuate around a zero line:
Three bands above zero (yellow) indicate increasing levels of buying pressure
Three bands below zero (red) indicate increasing levels of selling pressure
The central band represents the baseline volume flow
Color intensity changes based on whether values are positive or negative
Trading Signals
The Volume Flow Oscillator provides several valuable trading signals:
Zero-line crossovers: When multiple bands cross from negative to positive, potential bullish shift; opposite for bearish
Divergences: When price makes new highs/lows but oscillator bands fail to confirm, signals potential reversal
Volume climax: Extreme readings where outer bands stretch far from zero often precede reversals
Trend confirmation: Strong expansion of bands in direction of price movement confirms genuine momentum
Support/resistance: During trends, bands may remain largely on one side of zero, showing continued directional pressure
Customization
Adjust these key parameters to optimize the oscillator for your trading style:
Lookback Length: Controls overall sensitivity (shorter = more responsive, longer = smoother)
Multipliers: Adjust sensitivity spread between bands for different market conditions
ALMA Settings: Fine-tune how the indicator weights recent versus historical data
VWMA Toggle: Enable for additional smoothing in volatile markets
Best Practices
For optimal results, use this oscillator in conjunction with price action and other confirmation indicators. The multi-band approach helps distinguish between minor fluctuations and significant volume events that might signal important market turns.
SuperTrade Ichimoku Cloud StrategyUnlike SuperTrade's Super Trend the Ichimoku Cloud Strategy is a trend-following system derived from the Ichimoku Kinko Hyo indicator. It helps identify market direction, momentum, and potential support/resistance zones. This strategy uses key components of the Ichimoku Cloud to determine bullish or bearish trends and executes trades accordingly.
🔍 Key Components Used
Conversion Line (Tenkan-sen) – short-term average (9-period Donchian midpoint by default)
Base Line (Kijun-sen) – medium-term average (26-period Donchian midpoint)
Leading Span A (Senkou Span A) – average of Conversion Line and Base Line, plotted forward by 26 periods.
Leading Span B (Senkou Span B) – 52-period Donchian midpoint, plotted forward by 26 periods.
Lagging Span (Chikou Span) – current close price, plotted backward by 26 periods (for visual reference only in this version).
The cloud (Kumo) is the area between Leading Span A and B, representing trend direction and potential support/resistance.
📈 Entry Rules (Buy Condition)
A long trade is entered when:
LeadLine1 > LeadLine2 → This implies a bullish cloud.
Close > LeadLine1 and Close > LeadLine2 → The price is trading above the cloud, confirming upward momentum.
This combination indicates a strong bullish trend, so the strategy enters a long position.
📉 Exit Rules (Sell Condition / Close Position)
The long trade is closed when:
LeadLine1 < LeadLine2 → This implies a bearish cloud.
Close < LeadLine1 and Close < LeadLine2 → The price has fallen below the cloud, signaling trend weakness or reversal.
This confirms a bearish trend, prompting the strategy to exit the long position.
✅ Must-Have Elements in This Strategy
Entry Logic – based on price position relative to the cloud and cloud direction.
Exit Logic – closes the position when price shifts to a bearish trend.
Overlay Enabled – plotted over price for visual confirmation of signals.
Dynamic Parameters – inputs for conversion/base/cloud lengths and displacement.
Visualization – plots all Ichimoku components including cloud fill for clarity.
No Shorting Logic Yet – this version only handles long trades; shorting can be added optionally.
No Stop-Loss or Take-Profit – trades are closed purely based on Ichimoku trend reversal.
Fibonacci Levels with MACD ConfirmationHow to Understand and Use the Fibonacci Levels with MACD Confirmation Script
This custom Pine Script is designed to give traders a clear visual framework by combining dynamic Fibonacci retracement levels, MACD histogram confirmation, and volatility-based swing zones. It aims to simplify trend analysis, improve entry timing, and adapt to various market conditions.
How to Interpret the 23.6% & 61.8% Labels
These Fibonacci levels represent key retracement zones where price often reacts during trend pullbacks or reversals.
The 23.6% level indicates a shallow retracement, useful in strong trends where price resumes early.
The 61.8% level is a deeper retracement, often a "last line of defense" before trend invalidation.
The script labels these zones with "CC 23.6" and "CC 61.8" when the price crosses them with MACD histogram confirmation:
Green label (CC) = bullish confirmation
Red label (CC) = bearish confirmation
How to Modify Inputs (Manual Adjustments)
Input Purpose Default How to Use
ATR Period Measures volatility 14 Increase for smoother, slower reactions; reduce for faster swings
Min Lookback Minimum bars for swing zone 20 Avoids short-term noise
Max Lookback Cap for swing zone scan 100 Avoids excessively wide retracement levels
Inverse Candle Chart Flips high/low logic false Enable for inverted analysis or backtesting "opposite logic"
How to Use the Inverse Candle Chart Option
Activating inverse mode flips candle logic:
Highs become negative lows, and vice versa.
Useful for:
Contrarian analysis
Inverse ETFs or short-biased views
Backtesting reverse-pattern behavior
How to Adjust the Style
You can manually personalize the script’s visual appearance:
Change line width in plot(..., linewidth=2) for bolder or thinner Fib levels.
Change colors from color.green, color.red, etc., to suit your theme.
Modify label.size, label.style, and label.color for different labeling visuals.
Customize MACD histogram style from plot.style_columns to other styles like style_histogram.
How the MACD is Set and Displayed
The MACD uses non-standard values:
Fast Length = 24
Slow Length = 52
Signal Smoothing = 18
These values slow down the indicator, reducing noise and aligning better with medium- to long-term trends.
MACD histogram is plotted directly on the main chart for faster, on-screen decision making.
Color-coded histogram:
Green/Lime = Bullish momentum increasing or steady
Red/Maroon = Bearish momentum increasing or steady
How to Use the Indicator in Real-World Trading
This indicator is most effective when used to:
✅ 1. Spot High-Probability Trend Continuation Zones
In a strong trend, price will often retrace to 23.6% or 61.8%, then resume.
Wait for:
Price to cross 23.6 or 61.8
MACD histogram rising (bullish) or falling (bearish)
"CC 23.6" or "CC 61.8" label to appear
🟢 Entry Example: Price retraces to Fib 61.8%, crosses up with green MACD histogram → take long position
✅ 2. Validate Reversal or Breakout Zones
These Fib levels also act as support/resistance.
If price crosses a Fib level but MACD fails to confirm, it may be a fake breakout.
Use confirmation labels only when MACD aligns.
✅ 3. Add Volatility Context (ATR) for Risk Management
The ATR label shows both value and %.
Use ATR to:
Set dynamic stop-losses (e.g., 1.5x ATR below entry)
Decide trade size based on volatility
How to Combine the Indicator With Other Tools
You can combine this script with other technical tools for a powerful trading framework:
🔁 With Moving Averages
Use 50/200 MA for overall trend direction
Take signals only in the direction of MA slope
🔄 With Price Action Patterns
Use the Fib/MACD signals at confluence points:
Support/resistance zones
Breakout retests
Candlestick patterns (pin bars, engulfing)
🔺 With Volume or Order Flow
Combine with volume spikes or order book signals
Confirm that Fib/MACD signals align with strong volume for conviction
✅ Trade Setup Summary
Criteria Long Setup Short Setup
Price at Fib Level At or crossing Fib 23.6 / 61.8 Same
MACD Histogram Rising and above previous bar Falling and below previous bar
Label Appears Green "CC 23.6" or "CC 61.8" Red "CC 23.6" or "CC 61.8"
Optional Filters Trend direction, ATR range, volume, price pattern Same
