Penny Stock Breakout ScreenerLive Conditions Your Script Is Monitoring:
🔵 Bullish (Green Background = Entry Opportunity):
Breakout Pivot High
✅ Trigger: Price is breaking above the highest close of the last 20 candles (shows momentum).
🔔 Alert: "Price breaking above recent pivot high!"
Price Above VWAP
✅ Trigger: Price is currently above the VWAP (shows buyers are in control).
🔔 Alert: "Price is above VWAP - bullish control!"
EMA 9 > EMA 20 Crossover
✅ Trigger: 9-period EMA crosses above 20 EMA (trend shifting bullish).
🔔 Alert: "EMA9 has crossed above EMA20"
RSI Recovery
✅ Trigger: RSI (14) crosses above 35, indicating a bounce from oversold.
🔔 Alert: "RSI is rising from oversold - bounce incoming"
Volume Spike
✅ Trigger: Current volume is 1.5x greater than 20-day average (buying interest).
🔔 Alert: "Volume > 1.5x 20-day avg - possible breakout"
Trend Analizi
MACD parametrable kylian MACD analysis with indicator on the chart showing bullish and bearish crossover points based on configurable thresholds.
NY HIGH LOW BREAKNY HIGH LOW BREAK: A New York Session Breakout Strategy
The "NY HIGH LOW BREAK" indicator is a powerful TradingView script designed to identify and capitalize on breakout opportunities during the New York trading session. This strategy focuses on the initial price action of the New York market open, looking for clear breaches of the high or low established within the first 30 minutes. It's particularly suited for intraday traders who seek to capture momentum-driven moves.
Strategy Logic
The core of the "NY HIGH LOW BREAK" strategy revolves around these key components:
New York Session Opening Range Identification:
The script first identifies the opening range of the New York session. This is defined by the high and low prices established during the first 30 minutes of the New York trading session (from 7:01 AM GMT-4 to 7:31 AM GMT-4).
These crucial levels are then extended forward on the chart as horizontal lines, serving as potential support and resistance zones.
Breakout Signal Generation:
Long Signal: A buy signal is generated when the price breaks above the high of the New York opening range. Specifically, it looks for a candle whose open and close are both above the highLinePrice, and importantly, the previous candle's open was below and close was above the highLinePrice. This indicates a strong upward momentum confirming the breakout.
Short Signal: Conversely, a sell signal is generated when the price breaks below the low of the New York opening range. It looks for a candle whose open and close are both below the lowLinePrice, and the previous candle's open was above and close was below the lowLinePrice. This suggests strong downward momentum confirming the breakdown.
Supertrend Filter (Implicit/Future Enhancement):
While the supertrend and direction variables are present in the code, they are not actively used in the current signal generation logic. This suggests a potential future enhancement where the Supertrend indicator could be incorporated as a trend filter to confirm breakout directions, adding an extra layer of confluence to the signals. For example, only taking long breakouts when Supertrend indicates an uptrend, and short breakouts when Supertrend indicates a downtrend.
Second Candle Confirmation (Possible Future Enhancement):
The close_sec_candle function and openSEC, closeSEC variables indicate an attempt to capture the open and close of a "second candle" (30 minutes after the initial New York open). Currently, closeSEC is used in a specific condition for signal_way but not directly in the primary longSignal or shortSignal logic. This also suggests a potential future refinement where the price action of this second candle could be used for further confirmation or specific entry criteria.
Time-Based Filtering:
Signals are only considered valid within a specific trading window from 8:00 AM GMT-4 to 8:00 AM GMT-4 + 16 * 30 minutes (which is 480 minutes, or 8 hours) on 1-minute and 5-minute timeframes. This ensures that trades are taken during the most active and volatile periods of the New York session, avoiding late-session chop.
The script also highlights the New York session and lunch hours using background colors, providing visual context to the trading day.
Key Features
Automated New York Open Range Detection: The script automatically identifies and plots the high and low of the first 30 minutes of the New York trading session.
Clear Breakout Signals: Visually distinct "BUY" and "SELL" labels appear on the chart when a breakout occurs, making it easy to spot trading opportunities.
Timeframe Adaptability: While optimized for 1-minute and 5-minute timeframes for signal generation, the opening range lines can be displayed on various timeframes.
Customizable Risk-to-Reward (RR): The rr input allows users to define their preferred risk-to-reward ratio for potential trades, although it's not directly implemented in the current signal or trade management logic. This could be used by traders for manual trade management.
Visual Session and Lunch Highlights: The script colors the background to clearly delineate the New York trading session and the lunch break, helping traders understand the market context.
How to Use
Apply the Indicator: Add the "NY HIGH LOW BREAK" indicator to your chart on TradingView.
Select a Relevant Timeframe: For optimal signal generation, use 1-minute or 5-minute timeframes.
Observe the Opening Range: The green and red lines represent the high and low of the first 30 minutes of the New York session.
Look for Breakouts: Wait for price to decisively break above the green line (for a buy) or below the red line (for a sell).
Confirm Signals: The "BUY" or "SELL" labels will appear on the chart when the breakout conditions are met within the active trading window.
Implement Your Risk Management: Use your preferred risk management techniques, including stop-loss and take-profit levels, in conjunction with the signals generated. The rr input can guide your manual risk-to-reward calculations.
Potential Enhancements & Considerations
Supertrend Confirmation: Integrating the supertrend variable to filter signals would significantly enhance the strategy's robustness by aligning trades with the prevailing trend.
Stop-Loss and Take-Profit Automation: The rr input currently serves as a manual guide. Future versions could integrate automated stop-loss and take-profit placement based on this ratio, potentially using ATR for dynamic sizing.
Volume Confirmation: Adding a volume filter to confirm breakouts would ensure that only high-conviction moves are traded.
Backtesting and Optimization: Thorough backtesting across various assets and market conditions is crucial to determine the optimal settings and profitability of this strategy.
Session Times: The current session times are hardcoded. Making these user-definable inputs would allow for greater flexibility across different time zones and trading preferences.
The "NY HIGH LOW BREAK" is a straightforward yet effective strategy for capturing initial New York session momentum. By focusing on clear breakout levels, it aims to provide timely and actionable trading signals for intraday traders.
RSI Multi-Frame Multi-Asset
✅ Key Features:
Multi-Asset: Simultaneously analyze Bitcoin, SP500, Nasdaq, DXY, Gold, Oil, VIX and more
Multi-Timeframe: Configure any timeframe for all RSI calculations
Smart Average RSI: Automatically calculates the mean of all active RSI values
Special Data: Includes Bitcoin Hashrate, 10Y-2Y Spread, and US Interest Rates
Built-in Alerts: Automatic notifications on overbought/oversold crossovers
🎯 Why is it Unique?
Instead of looking at 10 different charts, you get an instant macro view of the market. The average RSI shows you the overall strength/weakness of global markets, while individual RSI values let you identify divergences and specific opportunities.
🚀 Perfect For:
Traders seeking correlations between assets
Global markets macro analysis
Identifying divergences between Bitcoin and traditional markets
Multi-timeframe breakout trading
ADX GatekeeperADX Gatekeeper is an original strategy that combines three classic filters to improve trend-following accuracy and avoid choppy markets.
Combines RSI, OBV, and ADX filters to catch stronger trends and avoid sideways markets. RSI confirms momentum extremes, OBV confirms volume flow, and ADX filters low-trend conditions. Fully configurable for different market conditions.
RSI Filter: Avoids overbought/oversold traps by requiring RSI < 35 for longs and > 70 for shorts.
OBV Filter: Confirms directional volume with positive OBV changes for longs and negative for shorts.
ADX Filter: Filters out low-volatility sideways conditions by requiring ADX above a configurable threshold (default 45).
The combined conditions aim to identify stronger trend moves while avoiding choppy markets. All filters can be toggled on or off for flexibility.
Default risk: 10% of equity per trade. Users can adjust this.
Ideal for trend traders looking to filter noise and improve entry quality.
Aggressive RSI + EMA Strategy with TP/SLWhat This Strategy Does 🔥
📉 It monitors RSI to find when the market is potentially oversold (RSI < 40) or overbought (RSI > 60).
📈 It checks the trend direction using two EMAs — fast EMA (short-term) and slow EMA (long-term).
✅ It only buys when the market looks oversold and the short-term trend is up (fast EMA > slow EMA).
❌ It only sells when the market looks overbought and the short-term trend is down (fast EMA < slow EMA).
💰 Once in a trade, it sets a take profit at 1% gain and a stop loss at 0.5% loss — so profits are locked and risks controlled.
🔄 This cycle repeats continuously, aiming to catch many small, quick moves rather than waiting for big swings.
🚀 The aggressive RSI thresholds mean it triggers trades more often — ideal for active traders who want lots of setups.
📊 It shows clear visual indicators and plots on the chart so you can easily see entries, exits, and indicator levels.
🔔 It also supports alerts, so you can get notified instantly when a trade setup happens.
In short, it’s a fast, trend-aware momentum strategy with built-in risk control designed for active trading and consistent small wins.
Craig Tap Bot Strategy ✨ – Full UpgradeCraig Tap Bot Strategy ✨
Strategy Description:
The Craig Tap Bot Strategy is a smart, momentum-based entry system designed to catch high-probability pullbacks to the EMA. It waits for price to "tap" the 200 EMA with optional confluences like RSI, MACD, and ADX for stronger signal filtering. It's ideal for trend-following traders who want precise entries, tight risk management, and automatic take-profit and stop-loss execution based on risk-reward ratios.
This is an upgraded version with full auto-position sizing, customizable filters, and clean plotted visuals for stop loss, take profit, and signal confirmations. Whether you're scalping, swing trading, or testing bots, this strategy provides a reliable framework for EMA-based trades.
How to Use:
Set the Chart to Trending Markets
This bot performs best when markets are trending. Use a higher timeframe (1h–4h) for directional bias and run the bot on a lower timeframe like 15m or 1h for entries.
Parameters to Customize:
EMA Length: Default is 200, which acts as dynamic support/resistance.
Tap Proximity %: Controls how close the price must get to the EMA to be considered a tap.
Risk % per Trade: Calculates position size based on your equity and SL distance.
Take Profit RR: Risk:Reward ratio target. Example: 2.0 means aiming for double your risk.
Stop Loss %: How far from the EMA your stop loss sits.
Use First Tap Only: Only takes the first tap after a trend flip (to avoid chop).
RSI / MACD / ADX Filters: Optional confirmations to filter out low-quality setups.
Trade Execution:
A Long is triggered when price taps EMA from above, confluences pass, and conditions are met.
A Short is triggered when price taps EMA from below, with same logic.
Auto TP and SL levels are plotted.
Background highlights show entries visually.
Recommended Settings (Starter Template):
EMA: 200
Tap Proximity: 0.2%
TP RR: 2.0
SL: 0.5%
Risk: 1%
RSI + MACD: ON
ADX: Optional, for trend confirmation
Tips:
Works well in crypto, FX, and indices.
Try using this with alerts to power a webhook or automated system.
Use multiple timeframes for best results (e.g. 4H for bias, 15m for taps).
Backtest various tap distances and filters to suit your market.
Created by UKMC-
Hybrid candles by Marian BDescription
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This script it does a very simple thing: it will color the candles according to the HeikenAshi rules.
It will keep the regular candle shape, but with the HeikenAshi colors. Some traders find it useful, especially those using the ATS methodology.
Originality
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This script is not at all orginal and it will not make you win trades. There are a few others out there, but I could not find a public one that also colors the wicks; most of them just handle the color of the candle body.
Chart
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See a sample screenshot how it will look like.
Burt's Multi-EMA Ribbon 🔥 with Alerts & Shading📈 Burt’s Multi-EMA Ribbon 🔥
A sleek, professional EMA overlay designed for real traders who want fast momentum insight with minimal chart clutter.
Features:
5 core EMAs: 9, 21, 50, 100, 200 – ideal for intraday and swing analysis
Color-coded lines for instant recognition
Dynamic trend shading between EMA 9 & 21
Built-in bullish & bearish crossover alerts for momentum shifts
Overlay design keeps your chart clean and focused
How to use:
Use the EMA ribbon spacing to assess trend strength
Watch for EMA 9/21 crosses to enter early
Combine with price action or volume for confluence
🧠 Built by Burt for speed, clarity, and edge.
XRP Trade Alerts – Burt Mode📝 XRP Trade Alerts – Burt Mode (by UKMC)
This script is a precision alert tool designed for XRP traders looking to catch high-probability breakout moves, EMA-supported retests, and whale-driven volume surges — all in one streamlined indicator.
🔍 What It Does
🚀 Breakout Alerts: Triggers when XRP closes above a key breakout level (default: $3.00)
🔁 Retest Alerts: Fires when price pulls back into a predefined support zone (default: $2.90–$2.92)
📊 Volume Spike Alerts: Notifies you when hourly volume exceeds a specified threshold (default: 75 million) — great for spotting whale activity
📈 EMA Overlays: Includes EMA 50 and EMA 200 for trend confirmation and dynamic support
🎯 Fully customizable via settings panel (levels, volume threshold, EMAs)
🧠 Why Use It
This tool is built for breakout traders who want:
Clear confirmation-based entries
Automated alerts for key zones
Reduced screen time without missing moves
Whether you’re trading XRP manually or building toward automation, this script keeps you focused on only the highest-quality setups.
✅ Suggested Use
Works best on the 1H or 4H chart
Set alerts using TradingView’s alert manager:
XRP Breakout Above $3.00
XRP Retest Zone
XRP Volume Surge
Built with love by UKMC & Burt, for traders who want clarity, not chaos.
💥 No fluff. Just smart signals.
MA Crossover Strategy with TP/SL📊 MA Crossover Strategy with TP/SL
This strategy uses two simple moving averages (SMAs) to catch trend changes and trade breakouts with clear risk management.
🔥 How it works:
Enters a Long position when the fast SMA (short period) crosses above the slow SMA (long period), signaling an upward trend.
Enters a Short position when the fast SMA crosses below the slow SMA, signaling a downward trend.
🎯 Features:
Take Profit (TP): Automatically closes the trade at a defined percentage profit.
Stop Loss (SL): Limits potential losses with a predefined stop level.
Customizable parameters: Adjust the lengths of the moving averages, TP%, and SL% to fit your style.
Alerts: Receive notifications on every trade entry for timely action.
⚡️ Designed for traders looking for a simple, effective trend-following system with built-in risk control.
Colored EMAs 9/15/30/65/200Colored EMAs (9/15/30/65/200)
This script plots 5 exponential moving averages (EMAs) — 9, 15, 30, 65, and 200 — each with a distinct color for visual clarity.
These specific lengths are famously used by Peter Tuchman (the real “Wolf of Wall Street”) and his trading partner David Green for intraday momentum and trend analysis.
Great for scalpers and day traders looking to spot trend shifts, dynamic support/resistance, and entry zones with a clean EMA stack.
Correlation Coefficient with MA & BB中文版介紹
相關係數、移動平均線與布林帶指標 (Correlation Coefficient with MA & BB)
這個 Pine Script 指標是一款強大的工具，旨在幫助交易者和投資者深入分析兩個市場標的之間的關係強度與方向，並結合移動平均線 (MA) 和布林帶 (BB) 來進一步洞察這種關係的趨勢和波動性。
無論您是想尋找配對交易機會、管理投資組合風險，還是僅僅想更好地理解市場動態，這個指標都能提供有價值的見解。
指標特色與功能：
動態相關係數計算：
您可以選擇任何您想比較的股票、商品或加密貨幣代號（例如，預設為 GOOG）。
指標會自動計算當前圖表（主數據源，預設為收盤價）與您指定標的之間的相關係數。
相關係數值介於 -1 (完美負相關) 至 1 (完美正相關) 之間，0 表示無線性關係。
視覺化呈現相關係數線，並標示 1、0、-1 參考水平線，同時填充完美相關區間，讓您一目了然。
特別之處：程式碼中包含了 ticker.modify，確保比較標的數據考慮了股息調整或延長交易時段，使相關性分析更加精準。
相關係數的移動平均線 (MA)：
為了平滑相關係數的短期波動，指標提供了多種移動平均線類型供您選擇，包括：SMA、EMA、WMA、SMMA。
您可以設定計算 MA 的週期長度（預設 20 週期）。
這條 MA 線有助於識別相關係數的長期趨勢，判斷兩者關係是趨於增強還是減弱。
相關係數的布林帶 (BB)：
將布林帶應用於相關係數，以衡量其波動性和相對高低水平。
中軌與您選擇的移動平均線保持一致。
上軌和下軌則根據相關係數的標準差和您設定的 Z 值（預設 2.0 倍標準差）動態調整。
布林帶可以幫助您識別相關係數何時處於極端水平，可能預示著未來會回歸均值。
如何運用這個指標？
配對交易策略：當兩個通常高度相關的資產，其相關係數短期內顯著偏離平均水平（例如，一個資產價格上漲而另一個原地踏步），您可能可以考慮利用此「失衡」進行配對交易。
投資組合多元化：了解不同資產之間的相關性，有助於構建更穩健的投資組合，避免過度集中於同向變動的資產，有效分散風險。
市場趨勢洞察：透過觀察相關係數的趨勢和波動，您可以更好地理解不同市場板塊或資產類別之間的聯動性，為您的宏觀經濟分析提供數據支持。
請注意，相關性不等於因果性。使用此指標時，請結合您的整體交易策略、宏觀經濟分析以及其他技術指標進行綜合判斷。
English Version Introduction
Correlation Coefficient with Moving Average & Bollinger Bands Indicator (Correlation Coefficient with MA & BB)
This Pine Script indicator is a powerful tool designed to help traders and investors deeply analyze the strength and direction of the relationship between two market instruments. It integrates Moving Averages (MA) and Bollinger Bands (BB) to further insight into the trend and volatility of this relationship.
Whether you're looking for pair trading opportunities, managing portfolio risk, or simply aiming to better understand market dynamics, this indicator can provide valuable insights.
Indicator Features & Functionality:
Dynamic Correlation Coefficient Calculation:
You can select any symbol you wish to compare (e.g., default is GOOG), be it stocks, commodities, or cryptocurrencies.
The indicator automatically calculates the correlation coefficient between the current chart (main data source, default is close price) and your specified symbol.
Correlation values range from -1 (perfect negative correlation) to 1 (perfect positive correlation), with 0 indicating no linear relationship.
It visually plots the correlation line, marks 1, 0, -1 reference levels, and fills the perfect correlation zone for clear visualization.
Special Feature: The code includes ticker.modify, ensuring that the comparative symbol's data accounts for dividend adjustments or extended trading hours, leading to more precise correlation analysis.
Moving Average (MA) for Correlation:
To smooth out short-term fluctuations in the correlation coefficient, the indicator offers multiple MA types for you to choose from: SMA, EMA, WMA, SMMA.
You can set the length of the MA period (default 20 periods).
This MA line helps identify the long-term trend of the correlation coefficient, indicating whether the relationship between the two instruments is strengthening or weakening.
Bollinger Bands (BB) for Correlation:
Bollinger Bands are applied to the correlation coefficient itself to gauge its volatility and relative high/low levels.
The middle band aligns with your chosen Moving Average.
The upper and lower bands dynamically adjust based on the correlation coefficient's standard deviation and your set Z-score (default 2.0 standard deviations).
Bollinger Bands can help you identify when the correlation coefficient is at extreme levels, potentially signaling a future reversion to the mean.
How to Utilize This Indicator:
Pair Trading Strategies: When two typically highly correlated assets show a significant short-term deviation from their average correlation (e.g., one asset's price rises while the other stagnates), you might consider exploiting this "imbalance" for pair trading.
Portfolio Diversification: Understanding the correlation between different assets helps build a more robust investment portfolio, preventing over-concentration in co-moving assets and effectively diversifying risk.
Market Trend Insight: By observing the trend and volatility of the correlation coefficient, you can better understand the联动 (interconnectedness) between different market sectors or asset classes, providing data support for your macroeconomic analysis.
Please note that correlation does not imply causation. When using this indicator, combine it with your overall trading strategy, macroeconomic analysis, and other technical indicators for comprehensive decision-making.
Open Interest Screener
Open Interest Screener
Traders often wonder: how do you enter a trend before it takes off — not at the very peak? Most classic technical indicators lag behind price. So what could you add to your system to catch a move earlier?
🔍 Enter the Open Interest Screener!
I've personally relied on this metric for years while trading crypto. It helps detect abnormal spikes in open interest — sudden increases in the number of outstanding derivative contracts — which often signal that something big is about to happen. These moments can mark the very start of a major trend.
🧠 How to use it:
Go long if price is rising and there's a spike in open interest on the way up.
Go short if price is falling and open interest rises during the decline.
Exit positions when open interest sharply drops — this may indicate the move is losing momentum.
⚙️ Settings & Customization:
Bars to look back — defines how far back the script looks to detect % changes in open interest.
OI % Change Threshold — adjust this to control sensitivity; higher = fewer, stronger signals.
Exchange source toggles — choose between BitMEX (USD/USDT) and Kraken data feeds.
Show Spike Zones — enable or disable visual highlights for detected spikes.
📌 Tips:
Configure the indicator for your preferred cryptocurrency pair and timeframe.
Visually validate that the OI spikes look meaningful and are not cluttering the chart.
Optimal settings vary by asset — take time to test and tune them for each coin.
With this tool, you're no longer guessing where the trend might begin — you're tracking the intent of market participants as it unfolds. Use it as part of a broader system and stay ahead of the herd.
BTST Top Gainer ScannerBTST Stock identifier- BETA
scanner configuration based on the validated BTST checklist. This scans for stocks likely to gain 5-10% intraday tomorrow when bought at today's close:
Execution Tips:
Run scanner at 3:20 PM IST daily
Filter stocks with:
FII/DII net buying (check moneycontrol)
Pre-market futures premium > 0.4%
No pending corporate actions
Position sizing formula: Qty = (1% Account Risk) / (1.5 * ta.atr(14))
Cross-verify with FII/DII activity (moneycontrol.com) - stocks with FII net buys have 23% higher success rate.
Pivot Points Standard📄 Indicator Overview
This indicator is an advanced trend-following tool designed to generate entry signals based on EMA 234 and SMA 200, while also providing dynamic ATR-based stop-loss (SL) and take-profit (TP) levels.
Buy (Long) Signal:
Triggered when the price is above both the EMA 234 and SMA 200.
Sell (Short) Signal:
Triggered when the price is below both the EMA 234 and SMA 200.
For each signal, the indicator automatically displays:
✅ Entry price,
✅ Stop-loss (SL) level,
✅ Take-profit (TP) level,
✅ Risk amount,
✅ Reward amount,
✅ Risk/Reward (R/R) ratio.
All past signals and their corresponding entry, SL, and TP levels remain visible on the chart, allowing you to easily review historical trades. Thanks to ATR-based dynamic calculations, stop-loss and take-profit levels adjust to market volatility, providing a flexible and adaptive risk management approach.
⚙️ Features
Trend signals based on EMA 234 and SMA 200
Dynamic stop-loss and take-profit levels calculated with ATR
Persistent historical signal tracking (labels remain on the chart)
Automatic risk/reward calculation and display
Clean, user-friendly design for easy interpretation
💬 Usage Tips
When entering a position, consider the displayed risk and reward values for proper risk management. Since stop-loss and take-profit levels adjust dynamically to volatility, manual adjustment is not necessary.
⚠️ Disclaimer
This indicator is not financial advice. It is intended for educational and informational purposes only to support your personal trading analysis and strategy.
✅ If you'd like, I can also prepare a shorter summary version or add a Turkish + English bilingual version side by side. Just tell me! 🚀
VSA-Stopping VolumeVSA Stopping Volume Indicator
Stopping Volume occurs when candles show decreasing body sizes (narrow spreads) while volume steadily increases.
Example chart:
As you see:
3 consecutive candles in same direction (all green OR all red)
Body sizes (spreads) decreasing progressively: Candle 1 > Candle 2 > Candle 3
Volume increasing progressively: Volume 1 < Volume 2 < Volume 3
This pattern indicates price absorption - increased buying/selling pressure but declining price movement, often signaling exhaustion and potential reversal.
Indicator Features
This indicator detects Stopping Volume candlestick clusters with two signal types:
🔹 BUY/SELL Signals: Generated when pattern occurs at support/resistance zones
🔹 Directional Alerts (▲-green, ▼-red): Generated when pattern occurs outside key levels
Trading Guidelines:
⚠️ Auto-drawn S/R zones are reference only - manual level plotting recommended for accuracy
📊 Best for scalping: M5, M10, M15 timeframes
🛡️ Stop Loss: Place beyond the S/R zone you're trading
🎯 Take Profit: Based on your risk management
Key Concept: Volume expansion + price contraction = potential reversal, especially at SnR levels.
Perfect for scalpers looking to catch reversals at critical zones!
Strict S&D Zones with Real BoS (Wick Breaks)Marking supply and demand zones for you before a 3 candle push. Accurate for supply and demand zones
Fibonacci Retracement levels Automatically D/W/MIndicator Description: Fibonacci Retracement levels Automatically
Fibonacci retracement levels based on the day, week, month High Low range and Fibonacci retracement levels draws automatically .This Pine Script indicator is designed to plot Fibonacci retracement levels based on the high and low prices of a user-selected timeframe (Daily, Weekly, or Monthly). It identifies bullish or bearish candles in the chosen timeframe, draws key price levels, and overlays Fibonacci retracement lines and semi-transparent colored boxes to highlight potential support and resistance zones. The indicator dynamically updates with each new period and extends lines, labels, and boxes to the current bar for real-time visualization. Key Features
1. Timeframe Selection: Users can choose the timeframe for analysis: Daily, Weekly, or Monthly via an input dropdown. The indicator retrieves the open, high, low, and close prices for the selected timeframe using `request.security`.
2. High and Low Tracking : Tracks the highest high and lowest low within the selected timeframe. Stores these values and their corresponding bar indices in arrays (`whigh`, `wlow`, `whighIdx`,`wlowIdx`). Limits the array size to the most recent period to optimize performance.
3. Bullish and Bearish Candle Detection : Identifies whether the previous period’s candle is bullish (`close > open`) or bearish (`close < open`). Uses this to determine the direction for Fibonacci retracement calculations. Bullish candle: Fibonacci levels are drawn from low to high
Bearish candle: Fibonacci levels are drawn from high to low
4. Fibonacci Retracement Levels : Plots Fibonacci levels at 0.236, 0.382, 0.5, 0.618, and 0.786 between the high and low of the period. For bullish candles, levels are calculated from the low (support) to the high (resistance). For bearish candles, levels are calculated from the high (resistance) to the low (support). Each Fibonacci level is drawn as a horizontal line with a unique color:
- 0.236: Blue
- 0.382: Purple
- 0.5: Yellow
- 0.618: Teal
- 0.786: Fuchsia
5. Visual Elements: - High/Low Lines and Labels: Draws a red line and label for the previous period’s high. Draws a green line and label for the previous period’s low. Fibonacci Lines and Labels: Each Fibonacci level has a horizontal line and a label displaying the ratio.
Colored Boxes: Semi-transparent boxes are drawn between consecutive Fibonacci levels (including high and low) to highlight zones.
6. Dynamic Updates:
- At the start of a new period (e.g., new week for Weekly timeframe), the indicator:
- Clears previous Fibonacci lines, labels, and boxes.
- Recalculates the high and low for the new period.
- Redraws lines, labels, and boxes based on the new data.
- Extends all lines, labels, and boxes to the current bar index for real-time tracking.
7. Performance Optimization:
- Deletes old lines, labels, and boxes to prevent clutter.
- Limits the storage of highs and lows to the most recent period.
How It Works
1. Initialization: Defines variables for tracking bullish/bearish candles, lines, labels, and arrays for Fibonacci levels and boxes. Sets up color arrays for Fibonacci lines and boxes with distinct, semi-transparent colors.
2. Data Collection: Fetches the previous period’s OHLC (open, high, low, close) using `request.security`. Detects new periods (e.g., new week or month) using `ta.change(time(tf))`.
3. Fibonacci Calculation: On a new period, stores the high and low prices and their bar indices.
- Identifies the maximum high and minimum low from the stored data. - Calculates Fibonacci levels based on the range (`maxHigh - minLow`) and the direction (bullish or bearish).
4. Drawing:
- Draws high/low lines and labels at the identified price levels. Plots Fibonacci retracement lines and labels for each ratio. Creates semi-transparent boxes between Fibonacci levels to visually distinguish zones.
5. Updates:
- Extends all lines, labels, and boxes to the current bar index when a new period is detected. Clears old Fibonacci elements to avoid overlap and ensure clarity.
Usage
- Purpose: This indicator is useful for traders who use Fibonacci retracement levels to identify potential support and resistance zones in financial markets.
- Application:
- Select the desired timeframe (Daily, Weekly, Monthly) via the input settings.
- The indicator automatically plots the previous period’s high/low and Fibonacci levels on the chart.
- Use the labeled Fibonacci levels and colored boxes to identify key price zones for trading decisions.
- Customization:
- Modify the `timeframe` input to switch between Daily, Weekly, or Monthly analysis.
- Adjust the `fibLineColors` and `fibFillColors` arrays to change the visual appearance of lines and boxes.
- The indicator is designed for use on TradingView with Pine Script.
- The maximum array size for highs/lows is limited to 1 period in this version (can be adjusted by modifying the `array.shift` logic).
- The indicator dynamically updates with each new period, ensuring real-time relevance.
This indicator make educational purpose use only
Recent Swing High/Low Linesit gives the recent swing highs and lows.
for options buyers, they can simply enter on a trade when an opposite option (at the money) goes below the recent swing low.
