thinkCNE - Key with Multiple ColoursCustomisable Key with Multi-Coloured Highlights for Chart Annotations
Overview:
This Customizable Key indicator is designed to provide traders with a clear and visually customizable legend that can be displayed on their chart. It allows users to annotate their charts with up to 10 distinct labels, each paired with a unique color-coded square. This feature is especially useful when you need to visually differentiate between various technical elements on your chart, such as support/resistance levels, Fair Value Gaps (FVGs), or important pivot points.
Key Features:
Customizable Labels and Colors: Each row in the table can be customized with unique text and background colors. This flexibility allows traders to create a personalized key that reflects the specific elements they are tracking, such as monthly FVGs, daily supports, volume-based zones, or any other custom annotations.
Flexible Number of Rows: The user can enable or disable rows as needed, which ensures that the table only shows relevant information. If fewer than 10 rows are required, the unused rows can be hidden from view, maintaining a clean and uncluttered chart.
Dynamic Table Placement: The key can be placed at different positions on the chart (top-right, middle-right, or bottom-right), giving users control over where the key appears to avoid covering important parts of their technical analysis.
Adjustable Size and Text Format: Users can customize the size of the color squares, the text, and even the overall appearance of the table. The text size can range from small to huge, making the labels easy to read based on personal preferences.
Use Cases:
Annotating Key Technical Zones: The indicator is perfect for annotating multiple technical zones or levels that require consistent attention. For example, traders can label areas like "Monthly FVG," "Daily Support," "Key Resistance," or even "Volume Spike," and color-code them accordingly for quick reference.
Drawing Clarity: A well-organized chart is essential for clear decision-making. This indicator enhances clarity by visually categorizing different chart features, making it easier to quickly interpret the chart without confusion. The customizable color squares ensure that users can quickly identify which technical element corresponds to which label on the chart.
Visual Aid for Strategy Execution: For traders using strategies involving multiple indicators, support and resistance lines, or patterns, this key helps keep track of all the elements, especially when several overlapping annotations might clutter the chart. It allows users to draw specific attention to key areas of interest and explain the rationale for each one.
Educational & Presentational Tool: If you're conducting trading education sessions or presentations, this indicator can serve as a powerful tool to explain concepts in real-time. You can present your chart with clearly marked zones or levels, where each color and label explains the reasoning behind your analysis. It’s a professional tool for walkthroughs or strategy breakdowns.
Benefits:
Enhanced Visual Organization: The color-coded squares and corresponding labels make it easier to maintain organization within a busy chart. Traders can distinguish between multiple chart elements at a glance, which enhances their focus on critical zones or setups.
Improved Decision-Making: By clearly labeling and color-coding areas of importance, traders can reduce the time it takes to assess the chart and make decisions, as the key provides a concise reference.
Customizable to Individual Needs: Traders can adapt the indicator to their specific trading style and chart elements, whether they're swing traders marking longer-term zones or day traders focusing on short-term levels.
Clarity on Complex Charts: For traders using charts with several indicators and drawings, the ability to clearly define what each color and label represents ensures that the chart remains understandable, even with multiple overlays.
Komut dosyalarını "support resistance" için ara
Fibonacci & Bollinger Bands StrategyThis strategy combines Bollinger Bands and Fibonacci retracement/extension levels to identify potential entry and exit points in the market. Here’s a breakdown of each component and how the strategy works:
1. Bollinger Bands:
Bollinger Bands consist of a simple moving average (SMA) and two standard deviations (upper and lower bands) plotted above and below the SMA. The bands expand and contract based on market volatility.
Purpose in Strategy:
The lower band represents an area where the market might be oversold.
The upper band represents an area where the market might be overbought.
The price crossing these bands suggests overextended market conditions, which can be used to identify potential reversals.
2. Fibonacci Retracement and Extension Levels:
Fibonacci retracement levels are horizontal lines that indicate where price might find support or resistance as it retraces some of its previous movement. Common retracement levels are 61.8% and 78.6%.
Fibonacci extension levels are used to project areas where the price might extend after completing a retracement. These levels can help determine potential targets after a significant price movement.
Purpose in Strategy:
The strategy calculates the most recent swing high (fibHigh) and swing low (fibLow) over a lookback period. It then plots Fibonacci retracement and extension levels based on this range.
The Fibonacci levels are used as key support and resistance areas. The price approaching or touching these levels signals potential turning points in the market.
3. Entry Criteria:
A long position (buy) is triggered when:
The price crosses below the lower Bollinger Band, indicating an oversold condition.
The price is near or above a Fibonacci extension level (calculated based on the most recent price swing).
This suggests that the price is potentially reaching a strong support area, where a reversal is likely.
4. Exit Criteria:
The long position is closed (exit trade) when either:
The price touches or crosses the upper Bollinger Band, signaling an overbought condition.
The price reaches a Fibonacci retracement level or exceeds the recent swing high (fibHigh), indicating a potential exhaustion point or a reversal area.
5. General Strategy Logic:
The strategy takes advantage of market volatility (captured by the Bollinger Bands) and key support/resistance levels (determined by Fibonacci retracement and extension levels).
By combining these two techniques, the strategy identifies potential entry points at oversold levels with the expectation that the market will retrace or reverse upward, especially when near key Fibonacci extension levels.
Exit points are identified by potential overbought levels (Bollinger upper band) or key Fibonacci retracement levels, where the price might reverse downward.
6. Conditions to Execute the Strategy:
The Fibonacci levels are only calculated once the price has made a significant movement, establishing a recent high and low over a 50-bar period (which you can adjust). This ensures the Fibonacci levels are based on meaningful swings.
The entry and exit signals are filtered using both Bollinger Bands and Fibonacci levels to ensure that trades are not taken solely based on one indicator, thus reducing false signals.
Key Features of the Strategy:
Trend-following with reversal: It tries to catch reversals when the price hits extreme levels (Bollinger Bands) while respecting important Fibonacci levels.
Dynamic market adaptation: The strategy adapts to market conditions as it recalculates Fibonacci levels based on recent price swings and adjusts the Bollinger Bands for market volatility.
Confirmation through multiple indicators: It uses both the volatility-based signals from Bollinger Bands and the price structure from Fibonacci levels to confirm trade entries and exits.
Summary of the Strategy:
The strategy looks to buy low and sell high based on oversold/overbought signals from Bollinger Bands and Fibonacci levels that indicate key support and resistance zones.
By combining these two technical indicators, the strategy aims to reduce risk and increase accuracy by only entering trades when both indicators suggest favorable conditions.
Custom 4 Moving Averages with Styles & ThresholdsThis Pine Script indicator is designed to provide traders with a unique method of analyzing price action through four customizable moving averages, alongside buy and sell threshold detection. The script is fully original and adds value by allowing traders to configure and visualize multiple MAs with different smoothing options, and by detecting critical buy/sell moments based on the interaction between price and the moving averages.
What the Script Does:
Custom Moving Averages: The script plots four distinct moving averages (MA1, MA2, MA3, and MA4) on the chart. Each MA can be configured for length, offset, and optional smoothing to match different trading strategies. This flexibility allows traders to tailor the script for various timeframes, trend detection, and market conditions.
Buy (BT) and Sell (ST) Threshold Detection: The indicator identifies critical points for buying and selling:
Buy Threshold (BT): The script identifies potential buy points when the current candle's low is above the MA2 from the previous candle, suggesting potential upward momentum.
Sell Threshold (ST): It detects potential sell points when the current MA2 falls below the previous candle’s low, indicating possible downward momentum. These thresholds are clearly marked on the chart with green arrows for BT (Buy) and red arrows for ST (Sell).
Horizontal Threshold Lines: Horizontal lines are drawn when BT or ST conditions are met. These lines help traders visualize support and resistance levels, providing clarity in decision-making. The length of these lines is customizable, allowing users to control how long they remain visible on the chart.
Dynamic Cleanup of Old Lines: To keep the chart clean and reduce clutter, the script automatically removes old BT and ST lines after a set period, ensuring that traders can focus on the most relevant data.
Underlying Concepts:
Moving Averages: Moving averages are a fundamental tool in technical analysis for identifying trends. This script uses various moving averages (calculated from high, low, close, and HL2) and allows for smoothing to adjust the sensitivity to price movements. Traders can apply this flexibility to multiple trading styles, from scalping to swing trading.
Threshold Conditions: The buy and sell conditions in this script are based on simple but effective price action patterns, where the interaction between price and MA2 determines entry or exit points. This approach is useful in trend-following strategies, where traders aim to capitalize on momentum shifts.
How to Use the Script:
Configure Moving Averages: Start by adjusting the lengths, offsets, and smoothing options for each moving average. For short-term trading, shorter MA lengths might be more suitable, while longer MAs can help identify broader trends.
Observe Buy and Sell Signals: Look for green arrows (BT) as potential buy signals and red arrows (ST) as potential sell signals. These signals appear when certain conditions between price and MA2 are met, giving traders clear visual cues for entries and exits.
Support/Resistance Levels: Pay attention to the horizontal lines drawn when BT or ST conditions occur. These lines can act as support or resistance levels, helping you identify potential price targets or stop-loss points.
Why This Script is Useful:
This indicator combines the power of multiple moving averages with customizable features, making it versatile for different market conditions. By adding clear buy and sell signals based on a logical threshold system, the script helps traders make informed decisions with minimal guesswork. Unlike many basic indicators, this one provides flexibility and original insight into market dynamics, making it a valuable tool for both beginner and experienced traders.
Expanding Volume Range with Anchored VWAPExpanding Volume Range with Anchored VWAP Indicator Summary
This Pine Script indicator is designed for intraday trading, particularly for timeframes of 60 minutes or less. It combines several technical analysis concepts to provide traders with a comprehensive view of price action, volume, and potential support/resistance levels.
## Key Features
1. **Anchored VWAP (Volume Weighted Average Price)**
- Calculates and displays an Anchored VWAP line
- Resets at the start of each new day or when a new highest volume bar is detected
2. **Expanding Volume Range (EVR)**
- Identifies and highlights high volume bars
- Creates a box around the price range of the last three high volume bars
- Generates additional support/resistance lines based on this range
3. **Custom Multiplier Calculations**
- Allows users to customize the calculation of support/resistance levels
- Includes options for separate top and bottom multipliers
- Provides an exponential adjustment for fine-tuning
4. **Volume-Based Candle Coloring**
- Colors candles differently based on their volume relative to recent history
- Highlights the first candle of each session in a distinct color
5. **VWAP-Based Line and Fill Colors**
- Changes colors of lines and fills based on price position relative to VWAP
6. **Alert Generation**
- Creates alerts when price breaks above or below the EVR high and low levels
## User Inputs
The indicator offers several customizable inputs grouped into categories:
1. **Volume Colors**
- Customize colors for various elements (lines, fills, candles) based on volume and VWAP relationship
2. **Target Levels**
- Set multipliers for calculating target levels
3. **Multiplier Calculations**
- Enable/disable custom multiplier calculations
- Set base multipliers and exponents for top and bottom levels
## Functionality Breakdown
1. The indicator tracks the highest volume bars for the current and previous day.
2. It creates an Expanding Volume Range (EVR) based on the last three high volume bars.
3. Using the EVR, it calculates and draws support and resistance levels.
4. The levels can be calculated using either simple multipliers or a more complex exponential formula, depending on user preference.
5. Candles are colored based on their volume and whether they're the first candle of a session.
6. An Anchored VWAP is calculated and displayed, resetting at the start of each day or on new highest volume bars.
7. Alerts are generated when price moves beyond the EVR high or low levels.
## Use Cases
This indicator can be particularly useful for:
- Identifying potential support and resistance levels based on high volume price action
- Spotting changes in volume patterns throughout the trading session
- Recognizing price action relative to the Anchored VWAP
- Setting up potential entry and exit points based on the expanding volume range
Traders should use this indicator in conjunction with other forms of analysis and risk management strategies for best results.
Bubbles Volume [BigBeluga]The Bubbles Volume indicator is an innovative visualization tool designed to represent trading volume in a more intuitive and visually appealing manner. By displaying volume as bubbles of varying sizes and colors on the price chart, this indicator helps traders quickly identify significant volume levels and potential areas of interest.
Important Note:
For correct visual representation of indicator, layout it to front:
🔵 KEY FEATURES
● Volume Bubbles
Represents trading volume as bubbles on the price chart
Bubble size increases with higher volume levels
Color intensity changes based on volume significance
Provides an intuitive visual representation of volume distribution
● Heatmap Coloring
Optional feature to color bubbles based on volume intensity
Uses a color gradient from cool (low volume) to hot (high volume) colors
Helps quickly identify extremely high volume areas
● Significant Volume Levels
Option to display horizontal lines at significant volume levels
Shows volume amount as labels for highly significant levels
Helps identify potential support/resistance areas based on volume
Volume Levels:
Levels with HeatMap:
Levels without Volume Bubles:
● Normalized Volume Calculation
Uses normalized volume to account for overall market volume trends
Provides a more accurate representation of volume significance
🔵 HOW TO USE
● Volume Analysis
Larger bubbles indicate higher trading volume
Clusters of large bubbles may suggest areas of high interest or potential reversals
Use in conjunction with price action to identify potential breakouts or fakeouts
● Trend Confirmation
Strong trends often show increasing bubble sizes in the trend direction
Diminishing bubble sizes might indicate weakening trends
● Support and Resistance
Significant volume levels (displayed as lines) can act as potential support/resistance
Pay attention to price reactions at these levels for trading opportunities
● Divergences
Look for divergences between price action and bubble sizes
Price making new highs/lows with smaller bubbles might indicate weakening momentum
● Volatility Assessment
Periods with consistently large bubbles indicate high volatility
Can be used to adjust trading strategies or position sizing
🔵 CUSTOMIZATION
The Bubbles Volume indicator offers several customization options:
Toggle bubble display on/off
Adjust volume threshold for filtering low volume bubbles
Enable/disable heatmap coloring for enhanced visual analysis
Show/hide significant volume levels
Adjust the number of significant levels displayed
Customize colors to suit personal preferences
By fine-tuning these settings, traders can adapt the indicator to various market conditions and personal analysis preferences.
The Bubbles Volume indicator provides a unique and intuitive way to visualize trading volume directly on the price chart. This approach allows traders to quickly identify areas of significant trading activity and potential price levels of interest without the need for a separate volume sub-chart.
This tool can be particularly useful for traders focusing on volume analysis, breakout strategies, or those looking to confirm price action with volume. The visual nature of the bubbles makes it easy to spot volume patterns and anomalies at a glance, potentially leading to faster and more informed trading decisions.
As with all technical indicators, it's recommended to use the Bubbles Volume indicator in conjunction with other forms of analysis and within the context of a well-defined trading strategy. While this indicator provides valuable volume insights, it should be considered alongside other factors such as overall market trends, price patterns, and fundamental analysis when making trading decisions.
Flat Market Range Pro [CHE]Flat Market Range Pro Indicator
Introduction
Hey there! 👋
Welcome to our overview of the Flat Market Range Pro indicator. Whether you're new to trading or a seasoned pro, this tool is designed to help you spot those flat market conditions where prices are chilling within a certain range. By highlighting these consolidation zones and potential breakout points, it offers some pretty neat insights to boost your trading strategies. Let’s dive in and explore how this indicator can make your trading journey smoother and more informed!
How It Works
The Flat Market Range Pro indicator is all about understanding the ebb and flow of the market. Here's a simple breakdown:
Range Detection:
Range Period (range_period): This sets the number of bars (think of them as time slices) the indicator looks back to find the highest highs and lowest lows. It’s like setting the scope for your search.
Minimum Candles in Range (min_candles_in_range): Ensures that there are enough candles (price bars) within the range to make the detection meaningful. No point in highlighting a range if it’s too short, right?
Adaptive Moving Average (AMA):
Think of AMA as the indicator’s way of staying flexible. It smooths out the price data to better spot trends within those flat ranges. Don’t worry, it’s working behind the scenes and won’t clutter your chart.
Breakout Detection:
When the price decides to break free from its cozy range, the indicator flags it. It waits for confirmation to make sure it’s not just a fleeting move, adding a layer of reliability to your signals.
Visualization:
Flat Market Zones: These are shaded areas that highlight where the price has been consolidating.
Support and Resistance Lines: Automatically drawn lines that mark key price levels, helping you see where the price might bounce or break through.
Trade Signals: Arrows popping up to show potential buy or sell opportunities when breakouts occur.
Breaking It Down
1. Detecting the Range
The indicator scans through the past range_period bars to find the highest and lowest prices. This creates a dynamic range that adjusts as new data comes in. It’s like having a smart assistant keeping an eye on where the action is happening.
2. The Role of AMA
Even though you won’t see AMA on your chart, it plays a crucial role. It helps the indicator adapt to changing market conditions by smoothing out the data, making sure the breakout signals are spot-on and not just random noise.
3. Spotting Breakouts
A breakout happens when the price moves beyond the established range. The indicator marks these moments with clear arrows, so you know when it might be a good time to jump in or out of a trade. Plus, it waits for confirmation to ensure these signals are solid.
4. Visualizing Flat Markets
Shaded boxes highlight the areas where the price has been consolidating, making it easy to see when the market is flat. Support and resistance lines are drawn automatically, and you can even customize how they look to match your personal style.
Customize It Your Way
One of the best things about the Flat Market Range Pro indicator is how customizable it is. Here’s what you can tweak:
Range Settings:
Adjust the range_period to fit different timeframes.
Set the min_candles_in_range to ensure the ranges you see are meaningful.
Moving Average Settings:
Change the ma_length and ma_lookback to fine-tune how the AMA responds to price movements.
Visual Tweaks:
Pick your favorite colors and transparency levels for the shaded zones.
Choose whether to display support and resistance lines and extend them indefinitely if you like.
Toggle trade arrows and labels on or off based on what you find most helpful.
Organizing these settings into logical groups makes it super easy to customize the indicator just the way you like it.
Real-World Examples
1. Spotting Consolidation: Imagine you’re watching a stock that’s been moving sideways for a while. The indicator highlights this consolidation with shaded boxes and support/resistance lines, giving you a clear picture of where the price is hanging out.
2. Trading Breakouts: When the price finally decides to break free from the range, the indicator pops up buy or sell arrows. This helps you catch the move early, whether you’re looking to enter a new trade or exit an existing one.
3. Making Informed Decisions: With clear visual cues and reliable signals, you can make smarter trading decisions without getting overwhelmed by too much information.
Behind the Scenes: Technical Insights
For those curious about the nuts and bolts, here’s a peek into how the Flat Market Range Pro indicator is built:
Efficient Range Calculation:
Uses loops to scan through the specified range_period, ensuring accurate detection of high and low points.
Adaptive Logic with AMA:
Incorporates the Simple Moving Average (SMA) to create a threshold coefficient, making the indicator responsive to market changes.
Clear Visualization:
Utilizes box.new and label.new for intuitive visual representations of flat markets.
Employs plotshape and plot to display breakout signals clearly on your chart.
Optimized Performance:
Avoids plotting unnecessary elements like AMA, keeping your chart clean and focused on what matters.
Why You’ll Love It
The Flat Market Range Pro indicator brings a lot to the table:
Accurate Range Detection:
Pinpoints consolidation zones by analyzing historical highs and lows.
Flexible and Adaptive:
AMA ensures the indicator stays responsive to different market conditions.
User-Friendly Visuals:
Shaded zones, support/resistance lines, and clear trade signals make your chart easy to understand at a glance.
Highly Customizable:
Tailor the settings to match your trading style and preferences.
Reliable Signals:
Confirmation mechanisms help reduce false signals, giving you more confidence in your trades.
Wrapping It Up
The Flat Market Range Pro indicator is a fantastic tool for anyone looking to navigate flat or consolidating markets with ease. By combining precise range detection, adaptive logic, and clear visual cues, it helps you identify consolidation phases and seize breakout opportunities effectively. Its customizable features ensure that it fits seamlessly into your trading strategy, whether you’re just starting out or have years of experience under your belt.
For more details, a step-by-step guide on using the indicator, and access to the full Pine Script code, check out the accompanying documentation or reach out for support. Happy trading! 🌟
Questions and Further Information
Got questions or need a hand with the Flat Market Range Pro indicator? Feel free to reach out! Whether you’re curious about how it works or need tips on customizing it for your trading style, we’re here to help. Also, give the indicator a try on different charts to see how it performs in various market conditions. Let’s make your trading experience better together!
Best regards
Chervolino
This script was inspired by: Trend Regularity Adaptive Moving Average
and
Range Detection by HasanRifat
Day & Swing Trading EMA Clouds with Adaptive LevelsDay & Swing Trading EMA Clouds with Adaptive Levels is a tool designed for traders who need a flexible indicator that adapts to both short-term (day trading) and long-term (swing trading) strategies. The indicator blends EMA clouds and adaptive support/resistance levels, making it suitable for analyzing trend strength and key price zones.
How It Works:
EMA Clouds for Trend Detection:
This indicator uses three EMAs (Fast, Intermediate, Slow) to create two clouds:
Fast Cloud: The area between the fast and Intermediate EMAs.
Slow Cloud: The area between the Intermediate and slow EMAs.
The cloud colors change based on trend direction:
Positive (uptrend): When the fast EMA is above the Intermediate EMA (turquoise) or the Intermediate EMA is above the slow EMA (teal).
Negative (downtrend): When the fast EMA is below the Intermediate EMA (pink) or the Intermediate EMA is below the slow EMA (magenta).
Traders can use these clouds to visually gauge market momentum and trend reversals.
Adaptive EMA Settings Based on Trading Mode:
The EMA lengths adjust automatically depending on whether you're in Day Trading or Swing Trading mode:
Day Trading Mode uses shorter periods to capture quick price movements:
Fast EMA: 5-period
Mid EMA: 13-period
Slow EMA: 21-period
Swing Trading Mode uses longer periods to capture broader trends:
Fast EMA: 12-period
Mid EMA: 26-period
Slow EMA: 50-period
This dynamic adjustment allows you to switch between trading styles seamlessly, with the EMAs reflecting the most relevant timeframes for each strategy.
Adaptive Support and Resistance Levels:
Depending on the selected trading mode, the indicator dynamically plots key levels:
Day Trading Mode: Previous day’s high, low, and midpoint, as well as 2-day levels.
Swing Trading Mode: Previous month’s high, low, and midpoint, as well as 2-month levels.
These levels act as dynamic support and resistance zones, giving traders critical areas to monitor for potential reversals or breakouts.
Buy & Sell Signals:
Visual buy/sell signals are generated when the fast EMA crosses above or below the slow EMA. These signals can help traders identify potential trend reversals.
Customization:
You can fully adjust the transparency and colors of the clouds to fit your personal preferences and trading style.
Why This Combination?
Combining EMA clouds with adaptive levels provides traders with a complete picture. The clouds highlight the underlying market momentum and trend strength, while the adaptive levels offer potential entry/exit points based on historical price action. This unique mashup allows traders to follow trends and plan trades around key support and resistance zones.
Price Iterations with Pips*Script Name:* Price Iterations with Pips
*Description:* This script plots horizontal lines above and below a user-defined initial price, representing price iterations based on a specified number of pips.
*Functionality:*
1. Asks for user input:
- Initial Price
- Pips per Iteration
- Number of Iterations
2. Calculates the price change per pip.
3. Plots horizontal lines:
- Above the initial price (green)
- Below the initial price (red)
4. Extends lines dynamically to both sides.
*Use Cases:*
1. *Support and Resistance Levels:* Use the script to visualize potential support and resistance levels based on price iterations.
2. *Price Targets:* Set the initial price as a target and use the iterations to estimate potential profit/loss levels.
3. *Risk Management:* Utilize the script to visualize risk levels based on pip iterations.
4. *Technical Analysis:* Combine the script with other technical indicators to identify potential trading opportunities.
*Trading Platforms:* This script is designed for TradingView.
*How to Use:*
1. Add the script to your TradingView chart.
2. Set the initial price, pips per iteration, and number of iterations.
3. Adjust the colors and line styles as needed.
4. Zoom in/out and pan to see the lines adjust.
*Benefits:*
1. Visualize price iterations and potential support/resistance levels.
2. Simplify risk management and price target estimation.
3. Enhance technical analysis with customizable price levels.
Birdies [LuxAlgo]The Birdies indicator uses a unique technique to provide support/resistance curves based on a circle connecting the last swing high/low.
A specific, customizable part of this circle acts as a curve of interest, which can trigger visual breakout signals.
🔶 USAGE
The script projects a bird-like pattern when a valid Swing point is found. Multiple customization options are included.
🔹 Trend & Support/Resistance Tool
The color fill patterns and the wing boundaries can give insights into the current trend direction as well as serve as potential support/resistance areas.
In the example above, "Birdies" coincide with pullback and support/resistance zones.
🔹 Swing Length & Buffer
Besides the "Swing Length", with higher values returning longer-term Swing Levels, the script's behavior can be fine-tuned with filters ("Settings" - "Validation").
🔹 Validation
To minimize clutter, three filters are included:
Minimum X-Distance: The minimum amount of bars between subsequent Swings
Minimum Y-Distance: The minimum amount of bars between subsequent Swings
Buffer (Multiple of ATR)
The "Minimum X/Y-Distance" creates a zone where a new Swing is considered invalid. Only when the Swing is out of the zone, can it be considered valid.
In other words, in the example above, a Swing High can only be valid when enough bars/time have passed, and the difference between the last Swing and the previous is more than the ATR multiplied by the "Minimum Y-Distance" factor.
The "Buffer" creates a line above/below the "Birdy", derived from the measured ATR at the conception of the "Birdy" multiplied with a factor ("Buffer").
When the closing price crosses the "Birdy", it must also surpass this buffer line to produce a valid signal, lowering the risk of clutter as a result.
🔶 DETAILS
Birdies are derived from a circle that connects two Swing points. The left-wing curve originates from the most recent "Swing point" to the last value on the circle before crossing its midline. The mirror image of the left wing creates the right wing.
Enabling "Origine" will draw a line from the last Swing to the first.
🔹 Style
The publication includes a style setting with four options.
The first, "Birdy," shows a bird-like shape derived from a circle connecting the last Swing High and Swing Low.
The second option holds everything from the first option but connects both wingtips, providing potential horizontal levels of interest.
When setting "Birdy" to "None", the visual breakout signals will not defer from previous settings, but the focus is shifted towards the fill color, which can help detect potential trend shift.
A fourth setting, "Left Wing", will only show the left part of the "Birdy" pattern, removing the right part from the equation. This will change the visual breakout signals, providing alternative signals.
🔶 SETTINGS
Swing Length: The period used for swing detection, with higher values returning longer-term Swing Levels.
🔹 Validation
Minimum X-Distance: The minimum amount of bars between subsequent Swings
Minimum Y-Distance: The minimum amount of bars between subsequent Swings
Buffer (Multiple of ATR)
🔹 Style
Bullish Patterns: Enable / color
Bearish Patterns: Enable / color
Buffer Zone: Show / Color
Color Fill: Show color fill between two Birdies (if available)
Origine: Show the line between both Swing Points
🔹 Calculation
Calculated Bars: Allows the usage of fewer bars for performance/speed improvement
Z-Score Triggered VWAP# Z-Score Triggered VWAP Indicator
This custom indicator combines Volume-Weighted Average Price (VWAP) with Z-Score analysis to create a dynamic, volume-sensitive trading tool. It's designed to identify significant volume events and adjust the VWAP calculation accordingly, providing traders with a more responsive and adaptive price average.
## Key Features:
1. **Z-Score Triggered VWAP**: The indicator calculates a new VWAP when the volume Z-Score crosses above a user-defined threshold, allowing it to adapt to significant volume events.
2. **Customizable Timeframes**: Users can set different timeframes for Z-Score calculation and VWAP plotting, enabling multi-timeframe analysis.
3. **Dynamic Bands**: The indicator plots two sets of bands around the VWAP, calculated using standard deviation multipliers, which can be customized by the user.
4. **Visual Cues**: New VWAP start points are marked with yellow circles, helping traders identify where calculations reset.
5. **Real-time Information**: The current Z-Score and VWAP start information are displayed on the chart, providing immediate context.
6. **Flexible Appearance**: Users can customize colors and choose whether to display bands, enhancing chart readability.
7. **Multiple Alert Conditions**: The indicator includes alert conditions for price crossovers of the VWAP and all band levels.
## How It Works:
1. The indicator calculates the volume Z-Score on a user-specified timeframe, comparing current volume to historical volume over a lookback period.
2. When the volume Z-Score exceeds the threshold, a new VWAP calculation is triggered, resetting the cumulative values used in the VWAP formula.
3. The VWAP is continuously calculated and plotted on the chart, along with upper and lower bands based on price deviation from the VWAP.
4. Traders can use the VWAP line and bands to identify potential support/resistance levels and overbought/oversold conditions.
5. The Z-Score trigger helps ensure that the VWAP remains relevant by adapting to significant changes in trading volume.
## Trading Applications:
- **Dynamic Support/Resistance**: Use the VWAP and bands as potential support and resistance levels that adapt to changing market conditions.
- **Trend Identification**: The slope of the VWAP can help identify the overall trend direction.
- **Mean Reversion**: Look for potential reversals when price reaches the outer bands.
- **Volume Analysis**: The Z-Score trigger points highlight periods of unusual volume, which may precede significant price moves.
- **Risk Management**: Use the bands as potential stop-loss or take-profit levels.
This indicator is suitable for traders who want a more dynamic alternative to traditional VWAP indicators, especially those trading in markets with variable volume patterns. It combines volume analysis with price action, providing a comprehensive view of market behaviour
D-Shape Breakout Signals [LuxAlgo]The D-Shape Breakout Signals indicator uses a unique and novel technique to provide support/resistance curves, a trailing stop loss line, and visual breakout signals from semi-circular shapes.
🔶 USAGE
D-shape is a new concept where the distance between two Swing points is used to create a semi-circle/arc, where the width is expressed as a user-defined percentage of the radius. The resulting arc can be used as a potential support/resistance as well as a source of breakouts.
Users can adjust this percentage (width of the D-shape) in the settings ( "D-Width" ), which will influence breakouts and the Stop-Loss line.
🔹 Breakouts of D-Shape
The arc of this D-shape is used for detecting breakout signals between the price and the curve. Only one breakout per D-shape can occur.
A breakout is highlighted with a colored dot, signifying its location, with a green dot being used when the top part of the arc is exceeded, and red when the bottom part of the arc is surpassed.
When the price reaches the right side of the arc without breaking the arc top/bottom, a blue-colored dot is highlighted, signaling a "Neutral Breakout".
🔹 Trailing Stop-Loss Line
The script includes a Trailing Stop-Loss line (TSL), which is only updated when a breakout of the D-Shape occurs. The TSL will return the midline of the D-Shape subject to a breakout.
The TSL can be used as a stop-loss or entry-level but can also act as a potential support/resistance level or trend visualization.
🔶 DETAILS
A D-shape will initially be colored green when a Swing Low is followed by a Swing High, and red when a Swing Low is followed by a Swing High.
A breakout of the upper side of the D-shape will always update the color to green or to red when the breakout occurs in the lower part. A Neutral Breakout will result in a blue-colored D-shape. The transparency is lowered in the event of a breakout.
In the event of a D-shape breakout, the shape will be removed when the total number of visible D-Shapes exceeds the user set "Minimum Patterns" setting. Any D-shape whose boundaries have not been exceeded (and therefore still active) will remain visible.
🔹 Trailing Stop-Loss Line
Only when a breakout occurs will the midline of the D-shape closest to the closing price potentially become the new Trailing Stop value.
The script will only consider middle lines below the closing price on an upward breakout or middle lines above the closing price when it concerns a downward breakout.
In an uptrend, with an already available green TSL, the potential new Stop-Loss value must be higher than the previous TSL value; while in a downtrend, the new TSL value must be lower.
The Stop-Loss line won't be updated when a "Neutral Breakout" occurs.
🔶 SETTINGS
Swing Length: Period used for the swing detection, with higher values returning longer-term Swing Levels.
🔹 D-Patterns
Minimum Patterns: Minimum amount of visible D-Shape patterns.
D-Width: Width of the D-Shape as a percentage of the distance between both Swing Points.
Included Swings: Include "Swing High" (followed by a Swing Low), "Swing Low" (followed by a Swing High), or "Both"
Style Historical Patterns: Show the "Arc", "Midline" or "Both" of historical patterns.
🔹 Style
Label Size/Colors
Connecting Swing Level: Shows a line connecting the first Swing Point.
Color Fill: colorfill of Trailing Stop-Loss
Swing Points [CrossTrade]The "Swing Points" indicator is designed to help identify key swing points, trends, and potential support and resistance areas on a trading chart. This indicator overlays on the price chart and offers several features for enhanced market analysis.
Swing Point Identification: The indicator identifies swing highs and lows (pivot points) over a user-defined period. These points are crucial in understanding market reversals and momentum.
Swing Points Display: Users have the option to visually display these pivot points on the chart. Swing highs are marked with a red "H" above the bar, and swing lows with a green "L" below the bar, aiding in quick visual identification.
Center Line Calculation and Display: A dynamic center line is calculated using the pivot points, providing a baseline that adapts to market movements. The center line's appearance changes based on its position relative to the current price, making it a useful trend indicator.
Support and Resistance Levels: The indicator plots horizontal support and resistance lines based on the swing lows and highs, respectively. This feature helps traders identify potential areas of price consolidation or breakout.
Customization Options: Users can customize the period for swing point calculation and choose whether to display the pivot points, center line, and support/resistance levels.
Alert Features
Swing High Break Alert: An alert is triggered when a new swing high is detected, signaling a potential upward momentum shift.
Swing Low Break Alert: This alert activates when a new swing low is formed, possibly indicating a downward momentum shift.
Center Line Trend Color Change Alert: Alerts users when the center line changes its trend color, which could signify a change in overall market trend direction.
MACD Trail | Flux Charts💎 GENERAL OVERVIEW
Introducing our new MACD Trail indicator! Moving average convergence/divergence (MACD) is a well-known indicator among traders. It's a trend-following indicator that uses the relationship between two exponential moving averages (EMAs). This indicator aims to use MACD to generate a trail that follows the current price of the ticker, which can act as a support / resistance zone. More info about the process in the "How Does It Work" section.
Features of the new MACD Trail Indicator :
A Trail Generated Using MACD Calculation
Customizable Algorithm
Customizable Styling
📌 HOW DOES IT WORK ?
First of all, this indicator calculates the current MACD of the ticker using the user's input as settings. Let X = MACD Length setting ;
MACD ~= X Period EMA - (X * 2) Period EMA
Then, two MACD Trails are generated, one being bullish and other being bearish. Let ATR = 30 period ATR (Average True Range)
Bullish MACD Trail = Current Price + MACD - (ATR * 1.75)
Bearish MACD Trail = Current Price + MACD + (ATR * 1.75)
The indicator starts by rendering only the Bullish MACD Trail. Then if it's invalidated (candlestick closes below the trail) it switches to Bearish MACD Trail. The MACD trail switches between bullish & bearish as they get invalidated.
The trail type may give a hint about the current trend of the price action. The trail itself also can act as a support / resistance zone, here is an example :
🚩 UNIQUENESS
While MACD is one of the most used indicators among traders, this indicator aims to add another functionality to it by rendering a trail based on it. This trail may act as a support / resistance zone as described above, and gives a glimpse about the current trend. The indicator also has custom MACD Length and smoothing options, as well as various style options.
⚙️ SETTINGS
1. General Configuration
MACD Length -> This setting adjusts the EMA periods used in MACD calculation. Increasing this setting will make MACD more responseive to longer trends, while decreasing it may help with detection of shorter trends.
Smoothing -> The smoothing of the MACD Trail. Increasing this setting will help smoothen out the MACD Trail line, but it can also make it less responsive to the latest changes.
Lines of Chaos (ATR/ADR Levels)Lines of Chaos Indicator
This script is designed to provide traders with ATR (Average True Range) and ADR (Average Daily Range) support and resistance levels.
How it Works:
Support and Resistance Lines: The script plots ATR/ADR-based support and resistance lines based on a moving average of the last ATR/ADR Length days, the previous day's close, and the current day's open. Changing the ATR/ADR Length value changes the number of days of data to average.
EMA: The EMA is colored red when the ticker is potentially bearish. The EMA is colored green when the ticker is potentially bullish. Changing the EMA Length changes the number of data bars to average.
Default Settings: The default settings are optimized for most trading environments.
Key Features:
ATR & ADR Calculation: You can use ATR, ADR, or both. ATR is recommended for most scenarios.
Customizable Lengths: Adjust the ATR/ADR Length to refine the average calculation to your preference, with 14 being the standard value.
EMA for Market Bias: The EMA helps determine the ticker bias. It is colored green when the market is above the average price and red when below. This allows you to more easily determine whether or not the ADR/ATR levels are valid.
Versatile Usage: Suitable for various trading types, ensuring broad applicability across different market conditions.
How to Use:
Bounces off Levels: When the price bounces off a support/resistance level, the price will likely respect this level. This indicates that the price is unlikely to exceed the ticker's average volatility.
Breakthroughs of Levels: When the price breaks through a support/resistance level, the price will likely continue beyond this level. This indicates that the price has moved beyond that ticker's average volatility.
Multi-Timeframe Linear Regression Channel (Pinescriptlabs)This script combines multiple timeframes for visualizing linear regression channels in a single chart, allowing us to obtain a holistic view of price behavior across different timeframes (5m, 15m, 30m, and 4h). It facilitates the identification of trends and support/resistance levels across various time horizons. This multi-timeframe approach is useful because it helps confirm signals and detect potential divergences.
Components and Their Interaction
Linear Regression: Calculates the regression line and standard deviations for different timeframes. These lines show the direction and strength of the trend.
Deviation Bands: The upper and lower bands act as dynamic support and resistance levels, based on the standard deviation or maximum deviation.
Colors and Labels: Different colors for each timeframe allow for quick and clear identification of the regression lines and their bands. The labels help identify the timeframe of each channel.
Justification for the Mashup
Combining linear regressions across different timeframes allows us to observe short, medium, and long-term trends in a single chart. This multi-timeframe approach provides a more comprehensive market perspective compared to using a single timeframe.
Default Properties
The default properties of the strategy are configured to provide a clear view of the regression channels across different timeframes. These properties include:
Channel Length: Default of 50 periods, adjustable between 1 and 5000.
Data Source: Closing price by default.
Deviations: Optional use of upper and lower deviations with adjustable multipliers.
Line Extension: Option to extend lines to the right for better visualization.
Underlying Concepts
Calculating linear regression involves determining the slope, mean, and intercept of a line that best fits the price data. Standard deviations are used to create bands around this line, providing a measure of volatility. Implementing this in different timeframes allows us to observe how the trend changes over time and helps identify more precise entry and exit points.
This script is particularly useful for traders looking for an integrated tool that allows them to observe price behavior across multiple timeframes without needing to switch between different charts.
1.- For example, in the main image of the script, we observe that we are in a 1-hour timeframe, where the 4-hour linear regression channel indicates an uptrend with a length of 60 periods. Meanwhile, the 15-minute and 30-minute channels identify a convergence in the same trend. However, in the 5-minute linear regression, we have a completely lateral channel. These channels, shown from different timeframes in a single chart, give us a clear idea of exactly where the price is heading in each timeframe. Each channel serves as support or resistance for a lower or higher timeframe, depending on which timeframe we are looking at. Next, we will go to each timeframe to observe how the regression channels are displayed
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Este script combina múltiples marcos de tiempo para la visualización de canales de regresión lineal en un solo gráfico, nos permitirá obtener una visión holística del comportamiento del precio en diferentes marcos temporales (5m, 15m, 30m y 4h) permite la identificación de tendencias y niveles de soporte/resistencia en diferentes horizontes de tiempo. Este enfoque multi-temporal es útil porque permite confirmar señales y detectar posibles divergencias.
Componentes y su Interacción
Regresión Lineal: Calcula la línea de regresión y las desviaciones estándar para diferentes marcos temporales. Estas líneas muestran la dirección y la fuerza de la tendencia.
Bandas de Desviación: Las bandas superior e inferior actúan como niveles dinámicos de soporte y resistencia, basados en la desviación estándar o la desviación máxima.
Colores y Etiquetas: Diferentes colores para cada marco temporal permiten una identificación rápida y clara de las líneas de regresión y sus bandas. Las etiquetas ayudan a identificar el marco temporal de cada canal.
Justificación del Mashup
La combinación de regresiones lineales en diferentes marcos temporales nos permite observar la tendencia a corto, medio y largo plazo en un solo gráfico. Este enfoque multi-temporal proporciona una perspectiva más completa del mercado en comparación con el uso de un solo marco temporal.
Propiedades por Defecto
Las propiedades por defecto de la estrategia están configuradas para proporcionar una visión clara de los canales de regresión en diferentes marcos temporales. Estas propiedades incluyen:
Longitud del Canal: 50 períodos por defecto, ajustable entre 1 y 5000.
Fuente de Datos: Precio de cierre por defecto.
Desviaciones: Uso opcional de desviaciones superiores e inferiores con multiplicadores ajustables.
Extensión de Líneas: Opción para extender las líneas hacia la derecha para una mejor visualización.
Conceptos Subyacentes
El cálculo de la regresión lineal implica determinar la pendiente, la media y la intersección de una línea que mejor se ajusta a los datos de precios. Las desviaciones estándar se utilizan para crear bandas alrededor de esta línea, proporcionando una medida de la volatilidad. La implementación en diferentes marcos temporales permite observar cómo cambia la tendencia a lo largo del tiempo y ayuda a identificar puntos de entrada y salida más precisos.
Este script es particularmente útil para traders que buscan una herramienta integrada que les permita observar el comportamiento del precio en múltiples marcos temporales sin necesidad de cambiar entre diferentes gráficos.
Por ejemplo en la imagen principal del script observamos que estamos en un timeframe de 1h, donde el canal de regresión lineal de 4h, nos indica en un length de 60 periodos una tendencia alcista, mientras que los canales de 15min y 30 min nos identifican una convergencia en la misma tendencia, sin embargo en la regresión lineal de 5 minutos tenemos un canal totalmente lateral, estos canales mostrados de diferentes marcos de tiempo en un solo grafico nos da una clara idea de exactamente de a donde esta dirigiendo el precio en cada marco de tiempo a la par que cada canal nos sirve como soporte o resistencia de un marco de tiempo ya sea inferior o mayor dependiendo en que time frame nos coloquemos, a continuación iremos a cada marco de tiempo para que observemos como se muestran los canales de regresión:
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Hourly Trading System (Zeiierman)█ Overview
The Hourly Trading System (Zeiierman) is designed to enhance your trading by highlighting critical price levels and trends on an hourly basis. This indicator plots the open prices of hourly and 4-hour candles, visualizes retests, displays average price lines, and overlays higher timeframe candlesticks. It is particularly beneficial for intraday traders seeking to capitalize on short-term price movements and volume patterns.
█ How It Works
This indicator works by plotting significant price levels and zones based on hourly and 4-hour candle opens. It also includes functionalities for identifying retests of these levels, calculating and displaying average prices, and showing high and low labels for each hour.
█ Timeframe
The Hourly Trading System is designed to be used on the 1-minute or 5-minute timeframe. This system is tailored for intraday trading, allowing traders to find optimal entries around hourly opening levels and providing an easy method to identify the hourly trend. It works effectively on any market.
█ How to Use
Trend Analysis
Quickly gauge where the current price stands relative to key hourly and 4-hour levels. The plotted lines and zones serve as potential support and resistance areas, helping traders identify crucial points for entry or exit.
Utilize the 1-hour average and higher timeframe candles to understand the overall market trend. Aligning intraday strategies with larger trends can enhance trading decisions.
Use the bar coloring to quickly gauge the 1-hour trend on a lower timeframe. The bar colors indicate whether the hourly trend is bullish (green) or bearish (red), helping traders make quicker decisions in alignment with the overall trend.
Retest Identification
Enable retest signals to see where the price retested the hourly open levels. These retest points often signal strong price reactions, offering opportunities for trades based on support/resistance flips.
One effective strategy to incorporate is looking for price flips when a new hour starts. This approach involves monitoring price action at the beginning of each hour. If the price breaks and retests the hourly open level with strong momentum, it could indicate a potential trend reversal or continuation. This strategy is effective in volatile markets where price movements are significant at the start of each new hour.
Liquidity Sweep Strategy
Another common and effective strategy is the liquidity sweep. This involves identifying key levels where liquidity is likely to accumulate, such as previous hour highs and lows, and observing how the price interacts with these price levels. When the price sweeps through these levels, triggering stop-loss orders or pending orders, it often results in a sharp price movement followed by a reversal. Traders can capitalize on these movements by entering trades in the direction of the reversal once the liquidity sweep has occurred.
Equal Highs and Lows Strategy
The Equal Highs and Lows strategy leverages the concept of identifying levels where the price forms multiple highs or lows at the same level over different hourly periods. These equal highs and lows often indicate strong support or resistance levels where liquidity is accumulated. When the price approaches these levels, it is likely to trigger stop-loss orders and lead to significant price movements. Traders can look for breakouts or reversals around these levels to enter trades with higher probability setups.
█ Settings
Zone Width: Specifies the width of the zone around the 1-Hour Open as a percentage. Adjust this to widen or narrow the zone.
Show Retests: Enables or disables the display of retest markers. Retest markers show where the price has retested the 1-Hour Open line.
Number of Retests: Sets the number of retests to display. Adjust this to see more or fewer retest markers.
Volume Filter: Enables or disables the volume filter for retests. Use this to highlight retests with significant volume.
Volume Filter Length: Sets the length of the volume filter, smoothing the volume data to reduce noise.
1-Hour Average Line: Enables or disables the 1-hour average price line. This line shows the average price over the past hour.
Hourly High & Low Labels: Enables or disables the display of hourly high and low labels, marking the highest and lowest prices within each hour.
Candlesticks: Enables or disables the display of candlesticks on the chart, providing a detailed view of price action.
Bar Color: Enables or disables bar coloring based on price direction, with up bars in green and down bars in red.
Timeframe: Sets the timeframe for higher timeframe candles. Adjust this to match the period you want to analyze.
Number of Candles: Sets the number of higher timeframe candles to display. Increase this to see more candles on the chart.
Location: Sets the location for higher timeframe candles, allowing you to position them left or right on the chart.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. 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.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Ripster MTF CloudsDescription:
MTF EMA Cloud By Ripster
EMA Cloud System is a Trading System Invented by Ripster where areas are shaded between two desired EMAs. The concept implies the EMA cloud area serves as support or resistance for Intraday & Swing Trading. This can be utilized effectively on 10 Min for day trading and 1Hr/Daily for Swings. Ripster himself utilizes various combinations of the 5-12, 34-50, 8-9, 20-21 EMA clouds but the possibilities are endless to find what works best for you.
“Ideally, 5-12 or 5-13 EMA cloud acts as a fluid trendline for day trades. 8-9 EMA Clouds can be used as pullback Levels –(optional). Additionally, a high level price over or under 34-50 EMA clouds confirms either bullish or bearish bias on the price action for any timeframe” – Ripster
This indicator is an extension of the Ripster EMA Clouds. It allows you to visualize Exponential Moving Average (EMA) clouds from any time frame on your current chart, regardless of the chart's own time frame. This functionality is especially useful for traders who want to monitor higher time frame trends and support/resistance levels while trading on lower time frames.
What does this code do?
The Ripster MTF Clouds indicator displays two sets of EMA clouds. Each set consists of a short EMA and a long EMA. By default, the indicator uses Daily 20/21 and 50/55 EMAs, but you can customize these settings to fit your trading strategy. The EMAs are plotted on your chart along with their corresponding clouds, colored for easy differentiation:
EMA 1 (default 50/55): Plotted in blue.
EMA 2 (default 20/21): Plotted in teal.
The indicator uses the security function to fetch EMA values from higher time frames and plots them on your current chart, allowing you to see how these higher time frame EMAs interact with your current time frame's price action.
How to use this indicator:
Adjust Resolution:
Set the "Resolution" input to the time frame from which you want to fetch EMA values. For example, set it to "1H" if you want to see 1-hour EMAs on your current chart.
Customize EMAs:
Modify the "EMA 1 Short Length" and "EMA 1 Long Length" inputs to change the default 50/55 EMAs.
Adjust the "EMA 2 Short Length" and "EMA 2 Long Length" inputs to change the default 20/21 EMAs.
Monitor Clouds:
The indicator fills the area between the short and long EMAs, creating a cloud that helps visualize the trend. A blue cloud indicates the area between the EMA 1 pair, while a teal cloud indicates the area between the EMA 2 pair.
Use Multiple Instances:
You can add multiple instances of this indicator to your chart to monitor multiple higher time frames simultaneously. For instance, one instance can show daily clouds while another shows hourly clouds.
Integration with Trading Strategy:
Use this indicator to identify higher time frame trends and support/resistance levels, which can help improve your trading decisions on lower time frames.
For example, you can go long when the stock is above the 50-55 EMA clouds and 20-21 EMA clouds with daily resolution on a 10-minute chart and short when it is below it.
Similarly, you can short a stock under the 1-hour 34/50 EMA clouds while still trading on a 10-minute chart.
Golden Area### Golden Area Indicator Description
The "Golden Area" indicator is a technical analysis tool designed to assist traders by identifying potential buy and sell signals based on moving averages and support/resistance levels within a specific time frame. This indicator can be applied directly to price charts.
#### How It Works
1. **Inputs:**
- **MA50 Length:** The period length for the 50-period Simple Moving Average (SMA).
- **MA200 Length:** The period length for the 200-period Simple Moving Average (SMA).
2. **Calculations:**
- **MA50 (50-period SMA):** Calculated by averaging the closing prices over the past 50 periods.
- **MA200 (200-period SMA):** Calculated by averaging the closing prices over the past 200 periods.
- **Support Level:** The lowest price over the last 50 periods.
- **Resistance Level:** The highest price over the last 50 periods.
3. **Time Filter:**
- **Start Time:** The indicator becomes active at 12:30 IST (07:00 UTC).
- **End Time:** The indicator deactivates at 10:30 IST the next day (05:00 UTC).
- A background color change (yellow) highlights the active time range on the chart.
4. **Signals:**
- **Buy Signal:** Triggered when the current time matches the start time and the closing price is below the support level.
- **Sell Signal:** Triggered when the current time matches the start time and the closing price is above the resistance level.
5. **Plots:**
- **MA50:** Plotted as a blue line on the chart.
- **MA200:** Plotted as a red line on the chart.
- **Buy Signals:** Indicated by a green 'B' below the bars.
- **Sell Signals:** Indicated by a red 'S' above the bars.
This indicator provides visual cues for potential trading opportunities within the specified time frame, aiding traders in making informed decisions.
Moving Average Bands with Signals [UAlgo]The "Moving Average Bands with Signals combines various moving average types with ATR-based bands to help traders identify potential support and resistance levels.
It plots moving average bands with upper and lower support/resistance levels based on the Average True Range (ATR) and user-defined settings.Additionally, the script generates buy/sell signals based on price crossing above or below the bands.
🔶 Key Features
Multiple Moving Average Types:
Supports various moving average calculations including Arnaud Legoux Moving Average (ALMA), Exponential Moving Average (EMA), Double Exponential Moving Average (DEMA), Triple Exponential Moving Average (TEMA), Kaufman Adaptive Moving Average (KAMA), Hull Moving Average (HMA), Least Squares Moving Average (LSMA), Simple Moving Average (SMA), Triangular Moving Average (TMA), Volume-Weighted Moving Average (VWMA), Weighted Moving Average (WMA), and Zero-Lag Moving Average (ZLMA).
Customizable ATR Bands:
Integrates the Average True Range (ATR) to calculate dynamic support and resistance bands around the moving average. The multiplier for the bands is user-adjustable, allowing for finer control over the sensitivity and width of the bands.
Signal Generation:
Provides visual signals on the chart when the price interacts with the support or resistance bands. Users can choose between using the wick or the close price to generate these signals, adding an extra layer of customization based on their trading style.
Flexible Input Parameters:
Allows users to input parameters for moving average length, ATR length, band multiplier, and signal type. Additional settings are available for specific moving average types, such as ALMA's offset and sigma, KAMA's fast and slow periods, and LSMA's offset.
🔶 Disclaimer
This script is provided for educational purposes only and should not be considered financial advice.
Trading financial instruments involves substantial risk and can result in significant financial losses.
The script’s performance in the past is not indicative of future results, and no guarantees are made regarding its accuracy, reliability, or performance.
Liquidity Sweeps [LuxAlgo]The Liquidity Sweeps indicator detects the presence of liquidity sweeps on the user's chart, while also providing potential areas of support/resistance or entry when Liquidity levels are taken.
In the event of a Liquidity Sweep a Sweep Area is created which may provide further areas of interest.
🔶 USAGE
A Liquidity Sweep occurs when the price breaks through a liquidity level (further referred to as LqL ), after which the price returns below/above the liquidity level , forming a wick.
The script provides 2 options when this can happen:
A wick passes a LqL after which the price quickly returns.
First the closing price breaks through a LqL . After a while, the price retests the LqL and forms a wick in the opposite direction.
The examples above show a bullish and bearish scenario of "a wick passing through an LqL where the price quickly comes back". This type of Liquidity Sweep is represented by a dotted line.
The following example shows a broken LqL , where the price retests the Liquidity zone and bounces back.
Instead of a dotted line, this type of Liquidity Sweep is represented by a dashed line.
When a Liquidity Sweep takes place, this is indicated by highlighting the "wick- LqL " distance. This distance is also the basis for the Sweep Area (see next sub-section). A small 3-bar long dotted line starts from the opposite wick as an extra aid to determine potential support/resistance/entry, ...
Colors can be set in the settings (here yellow and aqua blue instead of default colors for clarity).
🔹 Sweep Areas
The distance between the LqL and the maximum limit of the wick forms a Sweep Area , which can provide a potential support/resistance or entry zone.
These examples show both types of Liquidity Sweeps , followed by a box indicating the Sweep Area .
When the Sweep Area is mitigated or a certain amount of bars has passed (Settings - 'Max bars'), the boxes will no longer be updated.
In this case, the 'Trigger' label shows the bar where the high crossed a LqL , after which a red box starts between LqL and high.
The low of the 'Trigger' bar is the starting point of a short dotted line. Next to the 'Trigger bar' the high touches the Sweep Area before returning, providing a potential short entry. One bar further, another entry opportunity presents itself when the price breaks the small dotted line.
In the following bullish example, not only do we see opportunities when the LqL has been swept, but the following Sweep Area provides some potential entries.
The small green dotted lines also act as a guide where the price breaks above, then forms a small range, after which the price continues in an upward direction.
Here, the initial trigger on the left forms a Sweep Area that is quickly broken. However, the small green line provides a potential entry area later on. The price moves in a short channel before breaking above the LqL (green dashed line), providing more potential entries. Price retests this LqL , and goes below this level. The price remained around the previously formed channel, after which the price resumed its upward trend.
🔶 SETTINGS
🔹 Liquidity Sweeps
Swings: Period used for the swing detection, with higher values returning longer term Liquidity Levels .
Options:
- Only Wicks: Only detects a Liquidity Sweep when a wick sweeps a previous wick
- Only Outbreaks & Retest: Only detects a Liquidity Sweep when the price breaks a Liquidity Level , returns & retests the Liquidity Level , and forms a wick in the opposite direction.
- Wicks + Outbreaks & Retest: Both options can be detected.
🔹 Sweep Area
Extend: Enables/Disables extension of the Sweep Area boxes.
Max Bars: Limit the extension to a certain number of bars.
Color Sweep Area box.
Exceptional Volume Spike - Potential Trend Reversal IndicatorWhat the Script Does:
The indicator aims to identify potential trend reversal points using the following steps:
Input Parameters: The script has three main input parameters that you can adjust:
relative_volume_threshold: This parameter sets the threshold for what is considered an exceptional volume spike in relation to the average volume.
ema_length: The length of the exponential moving average (EMA) used for smoothing calculations.
lookback_period: The period over which the script calculates potential support and resistance levels.
Relative Volume Calculation: The script calculates the relative volume by dividing the current volume by the average volume over the specified lookback_period.
Exceptional Volume Spikes: The script identifies exceptional volume spikes when the calculated relative volume exceeds the specified relative_volume_threshold.
EMA of Exceptional Volume Spikes: The script calculates the exponential moving average (EMA) of volume spikes. This EMA smooths out the volume spikes over the chosen ema_length.
Trend Direction: The script determines the trend direction using the crossovers of the EMA of exceptional volume spikes. If the EMA crosses above the EMA of regular volume (not spikes), it suggests a potential upward trend reversal. Conversely, if the EMA crosses below, it suggests a potential downward trend reversal.
Support and Resistance Levels: The script calculates potential support and resistance levels based on the highest high (hh) and lowest low (ll) over the specified lookback_period. These levels are then plotted on the chart.
Plot Shapes and EMA: The script plots triangle shapes below the bars for potential upward reversals and above the bars for potential downward reversals. Additionally, it plots the EMA of the closing price with different colors based on the trend direction.
By using this script as an indicator on your chart, you can visually assess potential trend reversal points based on exceptional volume spikes, trend direction crossovers, and support/resistance levels. Remember that this script serves as a tool to assist your analysis, and it's important to combine it with other technical analysis tools and strategies before making trading decisions.
Average Range LinesThis Average Range Lines indicator identifies high and low price levels based on a chosen time period (day, week, month, etc.) and then uses a simple moving average over the length of the lookback period chosen to project support and resistance levels, otherwise referred to as average range. The calculation of these levels are slightly different than Average True Range and I have found this to be more accurate for intraday price bounces.
Lines are plotted and labeled on the chart based on the following methodology:
+3.0: 3x the average high over the chosen timeframe and lookback period.
+2.5: 2.5x the average high over the chosen timeframe and lookback period.
+2.0: 2x the average high over the chosen timeframe and lookback period.
+1.5: 1.5x the average high over the chosen timeframe and lookback period.
+1.0: The average high over the chosen timeframe and lookback period.
+0.5: One-half the average high over the chosen timeframe and lookback period.
Open: Opening price for the chosen time period.
-0.5: One-half the average low over the chosen timeframe and lookback period.
-1.0: The average low over the chosen timeframe and lookback period.
-1.5: 1.5x the average low over the chosen timeframe and lookback period.
-2.0: 2x the average low over the chosen timeframe and lookback period.
-2.5: 2.5x the average low over the chosen timeframe and lookback period.
-3.0: 3x the average low over the chosen timeframe and lookback period.
Look for price to find support or resistance at these levels for either entries or to take profit. When price crosses the +/- 2.0 or beyond, the likelihood of a reversal is very high, especially if set to weekly and monthly levels.
This indicator can be used/viewed on any timeframe. For intraday trading and viewing on a 15 minute or less timeframe, I recommend using the 4 hour, 1 day, and/or 1 week levels. For swing trading and viewing on a 30 minute or higher timeframe, I recommend using the 1 week, 1 month, or longer timeframes. I don’t believe this would be useful on a 1 hour or less timeframe, but let me know if the comments if you find otherwise.
Based on my testing, recommended lookback periods by timeframe include:
Timeframe: 4 hour; Lookback period: 60 (recommend viewing on a 5 minute or less timeframe)
Timeframe: 1 day; Lookback period: 10 (also check out 25 if your chart doesn’t show good support/resistance at 10 days lookback – I have found 25 to be useful on charts like SPX)
Timeframe: 1 week; Lookback period: 14
Timeframe: 1 month; Lookback period: 10
The line style and colors are all editable. You can apply a global coloring scheme in the event you want to add this indicator to your chart multiple times with different time frames like I do for the weekly and monthly.
I appreciate your comments/feedback on this indicator to improve. Also let me know if you find this useful, and what settings/ticker you find it works best with!
Also check out my profile for more indicators!
Murrey Math Horizontal/Diagonal + Subharmonics 0 - 12 [All-Time]The Murrey Math lines are created by dividing the range between the high and low of the monthly timeframe prices into equal parts based on the division factor from 2 to 12.
No matter which timeframe you will use, because the calculations based on the most high and low price values.
Better to use > monthly timeframe for faster calculations.
These lines serve as potential support and resistance levels.
The midlines are dashed lines representing the midpoint between two consecutive Murrey Math lines.
The diagonal lines can be enabled to show two different types or both types. These lines connect the highs or lows of the price bars in a diagonal manner.
The subharmonic lines represent smaller divisions within each Murrey Math range. They can be customized to show only strong subharmonics or all subharmonics. Subharmonics are calculated based on the division factor and can provide additional support and resistance levels within the Murrey Math framework.
This script helps visualize the Murrey Math levels and their associated lines on a trading chart, aiding traders in identifying potential price levels for decision-making.
The most strong levels which I tested were: 2, 4, 6, 8, 12.
I was inspired by Gann's work and i tried to implement this indicator.
It's the most accurate version of Murrey Math calculations, you can set the value of 8 which Gann was used but I did up to 12 because of my experiments and I would recommend you to use the value of 12.
This indicator can be used for all types of markets.
Also note, that the strong levels described above is tested on division by 12 setting.
Anyway, you can use the divison of 8 and use the standart strong s/r levels.
(for more information search for Gann 2.0 support resistance on the internet).
Also note: this information is not a financial advice, just my opinion to the indicator I implemented. Please use this indicator wisely and focus to save your money, not earn.
I wish you profitable trades, stick to your risk/money management and the key entry points!
