Change Candle Color When 5 EMA Not ConnectedThis custom TradingView indicator changes the color of candlesticks to yellow whenever the 5-period Exponential Moving Average (EMA) is not "connected" to the current candle.
How It Works:
The 5 EMA is calculated based on the closing prices of the last 5 candles.
A candle is considered "not connected" to the EMA if:
The high and low of the current candle are both either above or below the 5 EMA, implying a significant deviation from the EMA.
When this condition is met, the candle color is changed to yellow to highlight this disconnection.
The default behavior of the script is to not display the 5 EMA line, keeping the chart uncluttered while focusing on the candlestick colors.
Usage:
This indicator is useful for scalping or short-term trading strategies, as it helps identify when the price has moved significantly away from the 5 EMA. A yellow candle could signal potential overextension or a possible reversal if the price is far from the EMA. Traders can use this as part of their risk management or entry/exit decision-making process.
Customization:
The indicator doesn't display the 5 EMA line, but you can modify the script to show it if needed by uncommenting the plot(ema5) line.
You can adjust the period of the EMA by modifying the ema5 period in the code, though the default setting is 5 periods.
Candlestick analysis
SSL Channel MTFSSL Channel with MTF support, This eliminates the noise of a basic SSL Channel script which is based on ErwinBeckers SSL Channel. So i have used a Multi Time Frame approach to have a clear confirmation of trend and reduce Noise and False signals unlike basic SSL Channel.
This script can be used to determine.
Support/Resistance
High/Low Breakout
Trend Direction
MA candles for Entry
The high and low sma are plotted as SSL CHANNEL when ever the high and low sma cross each other a direction change is observed.
The direction of SSL channel determines the trend of the price. The length of the channel can be changed as required a low value has a high noise and direction can be determined with low accuracy. Increasing the length of SSL channel has high accuracy trend confirmation.
The MTF SSL Channel uses plot from higher timeframe this helps in using SSL Channel as a Price Action Tool. Price when ever crosses over or below the channel determines a breakout. Price tries to move between the High SMA line and Low SMA Line of the SSL Channel rejection, breakouts can be easily observed on a lower timeframe using SSL Channel Plot from a higher timeframe.
I have used 5min/15min chart with MTF SSL from a 1Hr/4Hr and a length of 5 instead of 10. This helps quick direction changes over a period of 1hr to 4hr. Price is trapped within the High SMA and Low SMA lines of SSL Channel. In addition to SSL High Low and average mid line is plotted to additional reference.
Buy Sell Signals are plotted based on crossover of SMA High and Low.
Candle are Plotted Using a SMA with length of 5. This Candle Plot can be used to make an entry based on direction confirmation of SSL. keep in mind the direction of SSL Plot and the candle must be same. Preferably Entry can made above or below the midline of SSL Channel. The Candle Plot eliminates the Noise of traditional Japanese Candlesticks.
Additionally MACD Crossover and MACD Trend line confirmations can be used to confirm a Buy Sell and Entry signals
Alerts are also plotted accordingly.
ILD inverse liquidity Divergence StrategyDetermine Bias (Bullish):
H4 chart shows an uptrend with higher highs and higher lows.
Identify a swing high where resting liquidity (buy-side) is likely above.
Look for SMT Divergence (Lower Timeframes):
On M15, EUR/USD makes a higher high while GBP/USD fails to, signaling potential manipulation.
Spot an Inverse Fair Value Gap (IFVG):
Price has impulsively moved up, leaving a fair value gap below.
Wait for a Retracement (Entry):
Price retraces into the IFVG near a Fibonacci 61.8% retracement level.
Enter long here with a SL below the gap.
Set Risk-to-Reward:
SL = 10 pips below the entry.
TP = 20 pips above (1:2 R:R), targeting a resting liquidity zone above a recent swing high.
Monitor and Exit:
Price moves into the liquidity zone, hits TP, and completes the trade.
Candle Close Distance AlertThreshold-Based Distance:
You define a threshold percentage (threshold_percent) to specify what "far" means (e.g., 2%).
The script calculates the absolute distance between:
Close and Open
Close and High
Close and Low
If any of these distances exceed the specified threshold, the condition is triggered.
Visual Markers:
Green markers (triangle up) indicate the close is far from the open.
Red markers (triangle down) indicate the close is far from the high.
Blue markers (triangle down) indicate the close is far from the low.
These markers make it easy to spot significant price movements on the chart.
Customizable Alerts:
If enabled, alerts are triggered when any of the conditions are met.
Alerts are designed to notify you in real time if a candle closes far from the open, high, or low.
Closing Prices for Indices AMMOthe "Closing Prices for Indices" indicator displays the daily closing prices of four major stock indices: FTSE 100, DAX 40, Dow Jones Industrial Average, and NASDAQ Composite. The indicator updates the prices based on their respective market closing times:
FTSE 100 and DAX 40: Updates at 4:30 PM UK time.
Dow Jones and NASDAQ Composite: Updates at 9:00 PM UK time.
Key features:
Customizable Labels: Option to display labels showing the closing prices directly on the chart.
Color-Coded Lines: Plots each index's closing price using distinct, customizable colors for easy differentiation.
User-Friendly Settings: Includes options for customizing line and label colors.
This indicator is perfect for traders and analysts looking to monitor and compare key index closing prices visually on their charts.
CHAKRA RISS ENGULFING CANDLESTICK STRATEGYChakra RISS Engulfing Candlestick Strategy
Type: Technical Indicator & Strategy
Platform: TradingView
Script Version: Pine Script v6
Overview:
The Chakra RISS Engulfing Candlestick Strategy combines a momentum-based approach using the Relative Strength Index (RSI) with Engulfing Candlestick Patterns to generate buy and sell signals. The strategy filters trades based on price movement relative to a 50-period Simple Moving Average (SMA), making it a trend-following strategy.
The indicator uses color-coded bars to visually represent market conditions, helping traders easily identify bullish and bearish trends. The strategy is designed to be dynamic, adapting to changing market conditions and filtering out noise using key technical indicators.
How It Works:
RSI-Based Color Conditions:
Green Bars: When the RSI crosses above a specified UpLevel (default: 50), indicating a bullish momentum and signaling potential buy conditions.
Red Bars: When the RSI crosses below a specified DownLevel (default: 50), indicating a bearish momentum and signaling potential sell conditions.
Buy Signal:
Triggered when the following conditions are met:
RSI crosses from below the UpLevel (default: 50) to above it, signaling increasing bullish momentum.
The close price is above the 50-period Simple Moving Average (SMA), confirming an uptrend.
The Buy Signal is plotted below the bar with a green arrow and a "BUY" label.
Sell Signal:
Triggered when the following conditions are met:
RSI crosses from above the DownLevel (default: 50) to below it, signaling increasing bearish momentum.
The close price is below the 50-period Simple Moving Average (SMA), confirming a downtrend.
The Sell Signal is plotted above the bar with a red arrow and a "SELL" label.
Stop Loss and Take Profit:
For long trades (buy signals), the stop loss is placed below the previous bar's low, and the take profit is set at 3% above the entry price.
For short trades (sell signals), the stop loss is placed above the previous bar's high, and the take profit is set at 3% below the entry price.
Dynamic Bar Coloring:
The bar colors change dynamically based on RSI levels:
Green Bars: Indicating a potential uptrend (bullish).
Red Bars: Indicating a potential downtrend (bearish).
These visual cues help traders quickly identify market trends and potential reversals.
Trend Filtering:
The 50-period Simple Moving Average (SMA) is used to filter trades based on the overall market trend:
Buy signals are only considered when the price is above the moving average, indicating an uptrend.
Sell signals are only considered when the price is below the moving average, indicating a downtrend.
Alerting System:
Alerts can be set for both buy and sell signals. These alerts notify traders in real-time when potential trades are generated, allowing them to act promptly.
Alerts can be configured to send notifications through email, SMS, or a webhook for integration with other services like IFTTT or Zapier.
Key Features:
RSI and Moving Average-Based Signals: Combines RSI with a moving average for more accurate trade signals.
Stop Loss and Take Profit: Dynamic risk management with custom stop loss and take profit levels based on previous high and low prices.
Buy and Sell Alerts: Provides real-time alerts when a buy or sell signal is triggered.
Trend Confirmation: Uses the 50-period Simple Moving Average to filter signals and confirm the direction of the trend.
Visual Bar Color Changes: Makes it easy to identify bullish or bearish trends with color-coded bars.
Usage:
This strategy is suitable for traders who prefer a trend-following approach and want to combine momentum indicators (RSI) with price action (Engulfing Candlestick patterns). It is particularly useful in volatile markets where quick identification of trend changes can lead to profitable trades.
Best Used For: Day trading, swing trading, and trend-following strategies.
Timeframes: Works well on various timeframes, from 1-minute charts for scalping to daily charts for swing trading.
Markets: Can be applied to any market with sufficient liquidity (stocks, forex, crypto, etc.).
Settings:
UpLevel: The RSI level above which the market is considered bullish (default: 50).
DownLevel: The RSI level below which the market is considered bearish (default: 50).
SMA Length: The period of the Simple Moving Average used to filter trades (default: 50).
Risk Management: Customizable stop loss and take profit settings based on price action (default: 3% above/below the entry price).
tripleFlows Master EUR - by ManhDNThe TripleFlows Master EUR indicator is a technical analysis tool designed for TradingView to systematically evaluate the strength or weakness of the Euro (EUR) across 7 major currency pairs. This indicator provides a clear and objective measure of EUR momentum by analyzing moving averages, aggregating the data into a comprehensive Flow Index, and visualizing the collective price action of the Euro.
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How It Works
1. Data Collection:
- The indicator pulls price data from the 7 most significant EUR currency pairs:
EUR/USD, EUR/JPY, EUR/GBP, EUR/AUD, EUR/CAD, EUR/NZD, and EUR/CHF.
2. Moving Average Calculation:
- For each of the 7 currency pairs, the indicator computes:
- A 5-period moving average (MA).
- A 20-period moving average (MA).
- It then compares these two moving averages to identify whether the trend for each pair is bullish or bearish:
- If MA(5) > MA(20), the trend is considered bullish for the Euro.
- If MA(5) < MA(20), the trend is considered bearish for the Euro.
3. Flow Index Aggregation:
- The indicator aggregates the trend signals from all 7 currency pairs to calculate a Flow Index, which ranges from -100 to +100:
- +100: All 7 pairs indicate a bullish trend for EUR (maximum strength).
- -100: All 7 pairs indicate a bearish trend for EUR (maximum weakness).
- Values closer to 0 indicate a more neutral market condition.
4. Visual Representation of Composite Price Action:
- In addition to the Flow Index, the TripleFlows Master EUR generates a **composite candlestick chart** based on the aggregated price action of the 7 EUR pairs.
- This chart provides a clear visual representation of the Euro's overall price behavior, allowing traders to analyze trends directly through candlestick patterns and moving averages.
- By observing this chart, traders can make decisions based on the combined action of all 7 pairs, rather than relying on a single pair.
5. Triple Flow Calculation Across Timeframes:
- The Flow Index is calculated on three timeframes:
- Junior (short timeframe).
- Medior (medium timeframe).
- Senior (long timeframe).
- The indicator evaluates the Flow Index across these three timeframes to determine Triple Flow:
- Triple Flow Up (Bullish): All three timeframes show a Flow Index of +100.
- Triple Flow Down (Bearish): All three timeframes show a Flow Index of -100.
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Purpose and Application
- Trend Confirmation:
The TripleFlows Master EUR provides objective trend confirmation by synthesizing data across multiple pairs and timeframes.
- Bullish Trend: Look for opportunities to go long when Triple Flow Up is confirmed.
- Bearish Trend: Look for opportunities to go short when Triple Flow Down is confirmed.
- Multi-Timeframe Consistency:
The synchronization of the Flow Index across junior, medior, and senior timeframes ensures high-probability setups by aligning short-term and long-term trends.
- Composite Price Action Analysis:
The composite candlestick chart simplifies the analysis of EUR price behavior by aggregating data from 7 pairs, helping traders identify trends, key levels, and patterns visually.
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Outputs and Visuals
1. Flow Index:
- Displayed as a value between -100 and +100, showing the aggregated strength or weakness of the Euro.
2. Composite Candlestick Chart:
- A real-time chart that represents the Euro's collective price action across 7 pairs.
3. Triple Flow Status:
- Visual indication of Triple Flow conditions (e.g., Triple Flow Up or Triple Flow Down) based on the alignment of Flow Index values across all three timeframes.
4. Alerts:
- The indicator includes alerts for when a Triple Flow Up or Down condition is detected, allowing users to respond to key market opportunities.
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Technical Notes
- Flow Index Calculation:
The calculation is based purely on the relative position of the 5-period and 20-period moving averages across 7 pairs. It does not rely on external factors, ensuring the results are fully derived from price data.
- Composite Price Action:
The composite candlestick chart integrates the aggregated price movements of 7 pairs into a single, easy-to-read visual representation.
- Scalability Across Timeframes:
The TripleFlows Master EUR can be applied to any trading style, as it adapts to various timeframes:
- Junior timeframe for intraday analysis.
- Medior timeframe for swing trading.
- Senior timeframe for position trading.
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Conclusion
The TripleFlows Master EUR indicator provides a robust, data-driven solution for analyzing the Euro’s performance across major currency pairs. By aggregating price action from 7 pairs into a composite candlestick chart and synchronizing trends across multiple timeframes, the indicator eliminates the limitations of analyzing individual pairs in isolation. This comprehensive approach ensures traders can identify trends and opportunities with greater accuracy and confidence.
[GrandAlgo] MTF Confluence Key LevelsMTF Confluence Key Levels
The MTF Confluence Key Levels indicator is a powerful tool designed to identify pivotal price levels by analyzing price action across three timeframes . By leveraging a proprietary algorithm, this indicator filters out noise and highlights only the most significant zones, providing traders with actionable insights into potential price reactions.
With daily level resets , the indicator ensures traders work with the most current data, enabling precision and confidence in their trading decisions. Whether you’re a day trader, swing trader, or long-term investor, this tool adapts seamlessly to your trading style across all markets.
Key Features:
Multi-Timeframe Analysis: Evaluates price data across three timeframes to identify areas of confluence with high accuracy.
Daily Level Reset: Automatically refreshes key levels each day to reflect the latest market dynamics.
Proprietary Algorithm: Filters out insignificant levels to focus on zones that matter most, reducing chart clutter.
Universal Application: Compatible with Forex, crypto, stocks, indices, and commodities.
Customizable Settings: Tailor the indicator to align with your preferred strategy and level of precision.
Benefits:
Identify high-probability zones for potential reversals, breakouts, or consolidations.
Align short-term trades with long-term trends for enhanced confluence.
Optimize entries and exits by using precise confluence levels.
Improve risk management by setting stop-loss and take-profit levels based on robust support and resistance zones.
Adaptable for all trading styles, including day trading, swing trading, and position trading.
Use Cases:
Confirm overarching market trends by analyzing key levels from higher timeframes.
Refine trade entries and exits by leveraging multi-timeframe confluence.
Combine key levels with other tools, such as volume and momentum indicators, for enhanced decision-making.
Adjust strategies daily with updated levels reflecting current price action.
The image showcases how the MTF Confluence Key Levels indicator dynamically highlights critical areas of market interest using three timeframes for actionable trading insights.
Disclaimer:
This indicator is a technical analysis tool designed to assist traders by providing insights into market conditions. It does not guarantee future price movements or trading outcomes and should not be relied upon as a sole decision-making tool. The effectiveness of this indicator depends on its application, which requires your trading knowledge, experience, and judgment.
Trading involves significant financial risk, including the potential loss of capital. Past performance of any tool or indicator does not guarantee future results. This script is intended for educational and informational purposes only and does not constitute financial or investment advice. Users are strongly encouraged to perform their own analysis and consult with a qualified financial professional before making trading decisions.
[GrandAlgo] Reaction ZonesThe Reaction Zones indicator leverages a proprietary algorithm to detect and highlight key areas on the price chart where significant market reactions are likely to occur. These zones, identified with precision, provide insights into areas where price might reverse, consolidate, or experience heightened volatility. Designed for versatility, this is one of our favorite tools for gaining clarity in complex market conditions.
Reaction zones represent critical levels of interest, such as support and resistance, liquidity pools, or institutional activity areas, giving traders a decisive edge in navigating price action.
How It Works:
Proprietary Algorithm: Detects reaction zones by analyzing historical price data, focusing on areas with potential for significant market activity.
Dynamic Adaptation: Continuously updates to reflect real-time market conditions, ensuring zones remain relevant.
Customizable Parameters: Allows traders to adjust zone sensitivity and visibility to match their trading strategies and preferred levels of precision.
Key Features:
Automatically identifies reaction zones tied to potential reversals, breakouts, or consolidations.
Dynamic visuals ensure zones are easy to interpret on the chart.
Customizable settings to align with various trading strategies.
Works seamlessly across all timeframes and markets, including Forex, crypto, stocks, and commodities.
Use Cases:
Identify potential reversal points by analyzing price interaction with reaction zones.
Enhance breakout trading by confirming price movements beyond critical zones.
Use reaction zones as high-probability areas for placing entries, stop-loss, or take-profit levels.
Spot areas of institutional activity or liquidity clusters where significant price movements often occur.
Adapt effectively to both trending and ranging markets by focusing on key reaction zones.
Leverage reaction zones to manage risk, protecting trades against adverse movements while targeting optimal rewards.
Refine intraday and swing trading strategies with precise zone detection.
The image demonstrates how the indicator dynamically highlights critical Reaction Zones, offering clear guidance for identifying reversals.
Disclaimer:
This indicator is a technical analysis tool designed to assist traders by providing insights into market conditions. It does not guarantee future price movements or trading outcomes and should not be relied upon as a sole decision-making tool. The effectiveness of this indicator depends on its application, which requires your trading knowledge, experience, and judgment.
Trading involves significant financial risk, including the potential loss of capital. Past performance of any tool or indicator does not guarantee future results. This script is intended for educational and informational purposes only and does not constitute financial or investment advice. Users are strongly encouraged to perform their own analysis and consult with a qualified financial professional before making trading decisions.
EMA with Bar Count
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### **Key Features and Functionalities**
#### 1. **Multi-Timeframe Exponential Moving Averages (EMA)**
- The script calculates and plots EMAs for various timeframes (e.g., 1 minute, 5 minutes, 60 minutes, daily, and custom intervals).
- Users can customize the length and resolution of each EMA using inputs.
- Different colors are assigned to each EMA for easy identification on the chart.
#### 2. **Background Coloring**
- Optional background coloring (`bgcolor`) indicates whether the current price is above or below the 1-hour 20 EMA.
- Green indicates the price is above, and red indicates the price is below the EMA.
#### 3. **Bar Count Labeling**
- The script tracks bar counts and displays labels at specific intervals (e.g., every 3 bars).
- Label size and text color can be customized through user inputs.
#### 4. **Inside and Outside Bar Detection**
- Detects and highlights "Inside Bars" and "Outside Bars" on the chart.
- **Inside Bar**: The current bar's high and low are within the previous bar's range.
- **Outside Bar**: The current bar's range exceeds the previous bar's range.
- These patterns are marked with shapes for visual identification.
#### 5. **Bullish/Bearish Candle Streaks**
- Identifies and marks streaks of three consecutive bullish or bearish candles.
- **Bullish Streaks**: Marked with green shapes above the bar.
- **Bearish Streaks**: Marked with red shapes above the bar.
#### 6. **Time-Based Marking**
- The script includes an option to highlight specific time intervals (e.g., 7:30 AM) with a colored vertical line or background shading.
- Configurable time inputs allow flexibility.
#### 7. **Micro Gap Detection**
- Highlights gaps between the opening price of the current bar and the closing price of the previous bar.
- Blue shapes indicate bullish gaps.
- Purple shapes indicate bearish gaps.
#### 8. **TR (Trading Range) Detection**
- Identifies bars with significant overlap based on a user-defined threshold.
- Displays "TR" labels when overlap conditions are met.
#### 9. **Bar Coloring**
- Optionally colors bars based on specific conditions:
- Green: Bullish breakout (high and low higher than the previous bar, closing above the midpoint).
- Red: Bearish breakout (high and low lower than the previous bar, closing below the midpoint).
#### 10. **50% Midpoint Line**
- Displays a horizontal line at the 50% midpoint of the bar's range, customizable for the current or last bar only.
#### 11. **Pattern Detection**
- Recognizes specific candlestick patterns (e.g., IOI, OII, IOO).
- Provides alerts for detected patterns or predefined thresholds.
#### 12. **Alerts**
- Configurable alerts for:
- Specific patterns (e.g., IOI, OII, IOO).
- Bar range exceeding a user-defined threshold.
- Bullish or bearish streaks.
#### 13. **Gap Detector**
- Identifies gaps between bars and marks them with shaded boxes.
- Bullish gaps are shaded green, while bearish gaps are shaded red.
#### 14. **Advanced Customization**
- Extensive user inputs allow traders to tailor the indicator to their trading style.
- Includes support for various levels of detail (e.g., debug mode, label visibility, etc.).
#### 15. **ZigZag and Wedge Patterns**
- Optional zigzag lines to connect swing highs and lows.
- Detects wedge patterns using customizable settings for pivot points and angle differences.
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### **Use Case Scenarios**
1. **Trend Identification**: Use multi-timeframe EMAs to confirm overall market direction.
2. **Range Trading**: Trade within ranges using detected inside and outside bars as key levels.
3. **Breakout Trading**: Use patterns like IOI and OII to anticipate breakouts.
4. **Scalping**: Exploit bullish and bearish streaks or micro gaps for quick trades.
5. **Pattern-Based Alerts**: Set up alerts for specific market conditions or candlestick patterns.
### **Why This Indicator Is Useful**
- Combines multiple trading tools into a single, customizable script.
- Saves time by automating complex calculations and pattern detections.
- Improves decision-making with clear visual cues and configurable alerts.
Let me know if you'd like any additional explanations or adjustments!
EBL - Enhanced BOS LogicEBL - Enhanced BOS Logic
The EBL (Enhanced Break of Structure Logic) script is a powerful tool for traders who want to identify and act on key structural shifts in the market. By combining visual cues, such as horizontal lines and dynamic arrows, the script highlights critical points of interest where market behavior may indicate significant bullish or bearish momentum.
What Makes EBL Unique?
Break of Structure (BOS) Identification:
The script dynamically detects when price breaks above or below significant highs and lows, marking these levels as key BOS points.
Once a BOS level is confirmed, it is displayed on the chart as a horizontal line, allowing traders to easily identify areas of potential support and resistance.
Real-Time Validation and Invalidations:
Bullish BOS levels remain active until a bearish candle closes below the initiating bullish candle.
Similarly, bearish BOS levels remain active until a bullish candle closes above the initiating bearish candle.
If a BOS level is invalidated, both the corresponding line and its arrow are automatically removed to maintain chart clarity.
Visual Clarity with Arrows and Lines:
Customizable triangle arrows (green for bullish and red for bearish) appear alongside lines to signal entry opportunities.
Traders can adjust line length, colors, and visibility of arrows to fit their charting style.
Alerts for Confirmation:
Receive alerts when bullish or bearish structures are confirmed, ensuring you never miss a signal even when away from your chart.
How the Script Works
Detection of Bullish and Bearish Structures:
The script identifies a "Bullish Break" when the price closes above the high of a bullish candle followed by a bearish one.
A "Bearish Break" is detected when the price closes below the low of a bearish candle followed by a bullish one.
Line and Arrow Placement:
Horizontal lines are drawn at the high or low of the respective BOS level.
Triangular arrows are plotted just below or above the respective levels to indicate potential trade opportunities.
Automatic Cleanup:
When a line is invalidated by opposing market movement, both the line and its connected arrow are automatically removed from the chart.
How to Use EBL
Settings:
Adjust line colors (green for bullish, red for bearish) to suit your charting theme.
Customize arrow visibility or hide lines if you prefer a less cluttered chart.
Set the horizontal line length to match your desired timeframe and analysis depth.
Trading Concepts:
Trend Reversal Zones: Use invalidated BOS levels as signals for possible trend reversals.
Momentum Trading: Follow confirmed BOS levels to identify areas where price momentum is likely to continue.
Dynamic Support and Resistance: Leverage the lines to identify evolving support and resistance zones.
Alerts:
Enable alerts to receive notifications when bullish or bearish trends are confirmed, allowing you to stay informed without constant monitoring.
Conceptual Basis
This script is based on the widely used market structure concept, which is fundamental to price action trading. By tracking the highs and lows created by bullish and bearish movements, the EBL script provides an objective and systematic approach to identifying and trading key structural points in the market.
With the EBL - Enhanced BOS Logic, traders can visually and systematically track market structure, identify potential trade setups, and maintain a cleaner chart with automated line and arrow management. This script is ideal for trend-following, scalping, and swing trading strategies across all markets and timeframes.
Futures Engulfing Candle Size Strategy (Ticks, TP/SL)The Futures Candle Size Strategy is designed to identify and trade significant price movements in the futures market based on candle size. It is optimized for futures instruments like ES, NQ, or CL, where precise tick-level calculations are essential. The strategy includes a customizable take profit and stop loss in ticks and operates only within a specified time window (e.g., 7:00 AM to 9:15 AM CST).
Key Features:
Candle Size Threshold: Trades are triggered when the candle's high-to-low range exceeds the defined threshold in ticks.
Time Filter: Limits trades to the most active market hours, specifically between 7:00 AM and 9:15 AM CST.
Take Profit and Stop Loss: Customizable exit levels in ticks to manage risk and lock in profits.
Long and Short Trades: Automatically places buy or sell orders based on the candle's direction (bullish or bearish).
Alerts: Sends alerts whenever a trade is triggered, helping you stay informed in real-time.
How It Works:
The strategy calculates the size of each candle in ticks and compares it to the user-defined threshold.
If the candle size meets or exceeds the threshold within the specified time range, it triggers a long or short trade.
The trade automatically exits when the price hits the take profit or stop loss levels.
9:00 AM CR ModelHow to Trade the 9:00 a.m. CR Model
Define the Range:
8:00 a.m. Hourly Candle:
On the 1-hour chart, mark the high and low of the 8:00 a.m. candle.
9:00 a.m. 15-Minute Candle:
After it closes at 9:15 a.m., mark its high and low.
Identify Setup:
Turtle Soup (False Breakout):
Look for price to wick above the high (bearish) or below the low (bullish) and reverse.
Enter at a validated level (e.g., order block, fair value gap).
Breakout:
Confirm a close above the high (bullish) or below the low (bearish).
Use Fibonacci to find the midpoint (EQ) of the breakout candle and enter at that level.
Entry Rules:
Bullish Setup:
Enter below the open of the relevant candle after manipulation or breakout.
Bearish Setup:
Enter above the open of the relevant candle after manipulation or breakout.
Targets:
Opposite end of the range.
Key levels (e.g., prior highs/lows or standard deviations).
Take partials at the midpoint of the range.
Risk Management:
Always validate entries using key levels or Turtle Soup setups.
Avoid setups where the midpoint (EQ) is not hit.
Captain Trending [BETA]Captain Trending
Captain Trending is a specialized hybrid indicator designed to generate Buy/Sell signals in line with the prevailing market trend or momentum. Unlike the SMC Hybrid approach, which focuses on spotting reversal points or liquidity zones, Captain Trending aims to capture extended price moves by aligning trades with the broader direction of the market. This approach helps minimize noise from minor fluctuations and can potentially offer more stable opportunities for trend-following strategies.
Key Features
1. Intelligent Buy/Sell Signals
- Utilizes an internal logic to track and confirm trend continuity.
- Multiple signal formats (text or arrows) for clearer visualization on the chart.
2. Trend Filter
- A built-in trend filter line or cloud indicates bullish or bearish conditions.
- Encourages entries that follow the dominant market bias, increasing the likelihood of higher-probability setups.
3. Automated SL/TP Levels
- Recommends Stop Loss and Take Profit zones for disciplined risk management.
- Helps traders maintain consistency by removing guesswork from exit strategies.
4. Versatile Configuration
- Offers different signal types and templates to suit a variety of trading styles—from frequent signals to strict, trend-only setups.
- Simplified settings make it easy to customize without sacrificing performance.
Application and Best Practices
1. Follow the Main Trend
- Concentrate on signals aligned with the built-in trend filter to maximize risk-to-reward potential.
- Validate overall market direction by checking higher timeframes.
2. Multi-Timeframe Analysis
- Combine the indicator’s signals with multi-timeframe chart reviews for added confirmation.
- Top-down analysis can help ensure consistency between shorter-term trades and longer-term trends.
3. Consistent Risk Management
- Utilize the automated SL/TP levels to guide position sizing and maintain disciplined risk control.
- Adjust these levels based on individual risk tolerance and market conditions.
4. Ongoing Strategy Refinement
- While the indicator’s logic is adaptable, it is crucial to backtest or use a demo environment before going live.
- Fine-tune the settings for your preferred instruments and volatility conditions.
Risk Disclaimer
Captain Trending is provided for informational and educational purposes only. All forms of trading involve significant risk, and this script may not be suitable for every investor. Always practice and validate your strategies in a demo account prior to live trading. The developer is not responsible for any financial losses incurred.
Captain Trending focuses on identifying and capturing trend-based trading opportunities. By combining easy-to-read Buy/Sell signals, a robust trend filter, and automated SL/TP suggestions, it simplifies the process of managing trades in line with the market’s overall momentum. Thorough testing in demo conditions is recommended before integrating this indicator into a live trading strategy.
Bearish Gap Down DetectionThis indicator is designed to identify bearish gap downs in price action and visually mark them on your chart. A gap down occurs when today's opening price is below the previous day's low, and the closing price remains below that low, signaling a potential bearish continuation or reversal.
Features:
Precise Gap Down Detection: Identifies only confirmed bearish gap downs, avoiding false signals.
Clear Visual Markers: Marks detected gap downs with a red downward triangle above the bar for easy identification.
Minimalist Design: Focuses solely on gap down detection, without any reliance on moving averages or additional noise.
Use Cases:
Trend Reversals: Spot potential downward trends as they develop.
Momentum Confirmation: Use alongside other indicators or strategies to confirm bearish momentum.
Swing Trading Opportunities: Ideal for traders looking to capitalize on significant price movements.
How It Works:
The script detects a gap down when:
Today's opening price is below the previous day's low.
Today's closing price stays below the previous day's low.
When these conditions are met, the indicator plots a red triangle above the price bar, signaling a bearish gap down.
Best Practices:
Apply this script to daily or higher timeframes for more reliable results.
Combine it with other indicators, such as support/resistance levels or volume analysis, for enhanced decision-making.
TD Supply & Demand Points ```
TD Supply & Demand Points Indicator
This technical indicator helps identify potential supply and demand zones using price action pattern recognition. It scans for specific candle formations that may indicate institutional trading activity and potential reversal points.
Features:
• Two pattern detection modes:
Level 1: Basic 3-candle pattern for faster signals
Level 2: Advanced 5-candle pattern for higher probability setups
• Clear visual markers:
- Red X above bars for supply points
- Green X below bars for demand points
- Automatic offset adjustment based on pattern level
Pattern Definitions:
Level 1 (3-candle pattern):
Supply: Middle candle's high is higher than both surrounding candles
Demand: Middle candle's low is lower than both surrounding candles
Level 2 (5-candle pattern):
Supply: Sequence showing distribution with higher highs followed by lower highs
Demand: Sequence showing accumulation with lower lows followed by higher lows
Usage Tips:
• Use Level 1 for more frequent signals and Level 2 for stronger setups
• Look for confluence with key support/resistance levels
• Consider overall market context and trend
• Can be used across multiple timeframes
• Best combined with volume and price action analysis
Settings:
Pattern Level: Toggle between Level 1 (3-candle) and Level 2 (5-candle) patterns
Note: This indicator is designed to assist in identifying potential trading opportunities but should be used as part of a comprehensive trading strategy with proper risk management.
Version: 5.0
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I've written this description to be:
1. Clear and concise
2. Technically accurate
3. Helpful for both new and experienced traders
4. Professionally formatted for TradingView
5. Focused on the key features and practical usage
Would you like me to modify any part of it or add more specific details about certain aspects?
Three Candle Breakout Marker**Title: Three Candle Breakout Marker**
**Description:**
The **Three Candle Breakout Marker** is a powerful trading indicator designed for traders who want to identify significant price movements based on recent price action. This script marks candles that break above the highest high or below the lowest low of the previous three candles, providing clear visual signals for potential trading opportunities.
### Key Features:
- **Visual Indicators**: The indicator uses upward blue triangles to signify when a candle closes above the highest high of the last three candles, indicating a bullish breakout. Conversely, it uses downward orange triangles to mark when a candle closes below the lowest low of the last three candles, signaling a bearish breakout.
- **Customizable Alerts**: Traders can easily customize this indicator to suit their trading strategies by adjusting colors and sizes for better visibility on their charts.
- **Enhanced Chart Analysis**: With optional horizontal lines drawn at the breakout levels, traders can quickly assess key support and resistance areas, enhancing their decision-making process.
### How to Use:
1. **Add to Chart**: Simply add the indicator to your TradingView chart for any asset or timeframe you are analyzing.
2. **Identify Breakouts**: Look for blue triangles above candles for bullish breakout signals and orange triangles below candles for bearish breakout signals.
3. **Combine with Other Tools**: Use this indicator in conjunction with other technical analysis tools and indicators to confirm signals and improve your trading strategy.
### Conclusion:
The **Three Candle Breakout Marker** is an essential tool for traders looking to capitalize on momentum shifts in the market. By clearly marking breakout points, it helps traders make informed decisions and enhances their ability to react swiftly to changing market conditions.
Feel free to explore and customize this indicator to fit your trading style! Happy trading!
Wick Volume AlertThis indicator is intended to find a possible price reversal and is well suited for scalping in the smaller timeframes from 1 to 15min chart. It is important to use it in conjunction with other indicators such as order blocks or price levels.
The advantage over other Wick indicators is that volume is also taken into account.
Unfortunately, the markers on the chart do not work properly as they do not attach themselves when moving vertically. I would be happy if someone could fix the problem, as I am not a professional in Pine scripting.
Renko with Dynamic Support and ResistanceRenko candles are a type of chart used to filter out minor price movements, focusing on more significant trends. Unlike traditional candlestick charts, Renko charts do not use time as the primary unit but instead focus on price movements, with each brick representing a certain amount of price movement, or a "brick size." When the price moves by the predefined brick size in a given direction, a new Renko brick is created.
Renko charts are useful for identifying trends and key support/resistance levels, and they help eliminate market noise. Here's a brief explanation of how Renko works:
How Renko Charts Work:
Brick Size (Box Size): The user sets a fixed value (in terms of price) that determines when a new brick will form. For example, if the brick size is 10, a new brick will appear every time the price moves up or down by 10 units.
Direction of Bricks:
If the price moves up by the brick size, a new brick is added in the up direction.
If the price moves down by the brick size, a new brick is added in the down direction.
If the price doesn't move enough to form a new brick, no new brick is created.
No Time Element: Unlike traditional candlesticks, there is no time involved in Renko charts, meaning that bricks can be formed over any period depending on the price movements.
However, since Renko is a price-based chart type and not a time-based one, the actual Renko candles are not directly supported as a visual element in Pine Script. But you can replicate the behavior by plotting the price series based on the conditions for Renko.
Renko Charts Use Case:
Trend Identification: If you see multiple consecutive green bricks, it indicates an uptrend. Similarly, multiple red bricks indicate a downtrend.
Support/Resistance Levels: Renko charts can highlight important levels where price may reverse, as significant changes in direction are visible.
Smashing Pump Delta [by Oberlunar]Smashing Pump Δ by Oberlunar
This is a Crypto Δ Volumetric Pump indicator specifically designed to detect crypto pumps. Its primary goal is to highlight moments when buying volume significantly outweighs selling volume on a lower timeframe, suggesting strong upward momentum in the market.
I can't access to the data feed thus the core of its functionality lies in calculating the volume delta Δ in a simpler way... by measuring the difference between aggregated buy and sell volumes. Buy volume is recorded when a lower timeframe candle closes higher than it opened (green candles), while sell volume is recorded when a candle closes lower than it opened (red candles). By focusing exclusively on these buy and sell imbalances, the indicator naturally leans toward identifying positive surges in activity—the hallmark of a pump.
Unlike dumps, which are often accompanied by panic selling and rapid downward movement, pumps are driven by aggressive buying pressure which in crypto assets is very interesting. This indicator is designed to highlight those spikes in buying volume, helping traders pinpoint moments when a significant upward move might be unfolding. It achieves this by tracking the largest volume delta over recent candles and marking it clearly on the chart.
So, if you’re looking for a tool to spot when the bulls are charging, this indicator is your ally.
- Please as in the figure consider the progression of the local maxima before... -
TRBO COGThe TRBO COG indicator is a MACD-based tool
that enables users to identify the current trend, helping them make informed decisions on whether to call or put.
This indicator is essential for traders looking to accurately assess market conditions and make strategic trading choices.
By utilizing the TRBO COG indicator, users can gain valuable insights into market trends and optimize their trading strategies for success.
Introduction to the TRBO COG Indicator
Overview of TRBO COG and its Purpose.
trade smart by using this tool.
The Importance of Trend Identification in Trading
1. Introduction to the TRBO COG Indicator
Overview of TRBO COG and its Purpose
The TRBO COG indicator is a nifty tool designed to help traders identify the current trend in the market, giving them a better understanding of whether to go long or short on their trades. It's like having a crystal ball that whispers trend secrets to you (minus the mystical ambiance).
The Importance of Trend Identification in Trading
In the wild world of trading, identifying the trend is like knowing which way the wind is blowing. It guides you in making informed decisions, prevents you from swimming against the tide, and increases your chances of catching profitable waves. Ignoring the trend is like trying to salsa dance to a waltz – not pretty.
2. Understanding the MACD-Based Functionality
Explanation of MACD and its Role in TRBO COG
MACD, short for Moving Average Convergence Divergence, plays a crucial role in the TRBO COG indicator. It's like the secret sauce that gives your trend analysis that extra kick. MACD helps smooth out price data, making it easier to spot trend changes and potential entry points. It's like having a seasoned detective in your trading toolkit.
How MACD Enhances Trend Analysis
By using MACD in the TRBO COG indicator, traders can dive deeper into trend analysis, identifying shifts in momentum and potential trend reversals. It's like having x-ray vision in a world full of market noise – helping you cut through the clutter and focus on what really matters.
3. Utilizing TRBO COG for Trend Identification
Step-by-Step Guide to Using TRBO COG
Using the TRBO COG indicator is as easy as making a cup of tea (well, almost). Simply input the indicator into your trading platform, follow the signals it generates, and voilà – you have a clearer picture of the prevailing trend. It's like having a trusty sidekick whispering trend insights in your ear.
Interpreting TRBO COG Signals for Trend Direction
When the TRBO COG indicator flashes its signals, it's like a lighthouse guiding you through stormy seas. Pay attention to the signals it provides – whether it indicates a bullish or bearish trend – and use this information to steer your trading decisions in the right direction. It's like having a compass in a sea of uncertainty.
4. Key Features and Components of TRBO COG
Overview of TRBO COG Components
The TRBO COG indicator consists of various components that work together to give you a holistic view of the trend. From trend lines to momentum indicators, each component plays a vital role in helping you navigate the market terrain. It's like having a full arsenal of tools at your disposal.
Understanding the Parameters for Customization
Customization is key when using the TRBO COG indicator. By tweaking the parameters to suit your trading style and preferences, you can fine-tune the indicator to provide you with tailored trend insights. It's like having a bespoke suit made – perfectly fitting and tailored to your needs.
5. Strategies for Making Informed Call Decisions
Using TRBO COG to Determine Call Timing
Timing is everything when it comes to trading, and the TRBO COG indicator can be a valuable tool in helping you pinpoint the optimal moment to make a call. By analyzing the convergence and divergence of the indicator lines, you can get a clearer picture of when the trend is in your favor, enabling you to make more informed decisions on when to enter or exit a trade.
Risk Management Techniques in Combination with TRBO COG
While the TRBO COG indicator can provide valuable insights into market trends, it's essential to pair this information with effective risk management techniques. Setting stop-loss orders, diversifying your portfolio, and avoiding emotional trading can all help mitigate potential losses and maximize your gains when using TRBO COG to inform your call decisions.
6. Case Studies and Real-World Applications
Examples of TRBO COG in Action
To truly understand the power of the TRBO COG indicator, looking at real-world examples can provide valuable insights. By examining how the indicator has been used in specific trading scenarios, you can gain a better understanding of its practical applications and potential outcomes in different market conditions.
Lessons Learned from Real Trading Scenarios
Reflecting on past trading experiences where TRBO COG was employed can offer valuable lessons for future decision-making. Understanding what worked well and what didn't in previous trades can help you refine your strategies and improve your overall trading performance when using the TRBO COG indicator.
7. Tips for Effective Implementation and Monitoring
Best Practices for Applying TRBO COG in Trading
When incorporating the TRBO COG indicator into your trading strategy, it's essential to follow best practices to maximize its effectiveness. This may include combining it with other technical indicators, testing different settings, and staying informed about market trends to make the most informed call decisions possible.
Monitoring and Adjusting TRBO COG Settings for Optimal Results
Market conditions can change rapidly, so regularly monitoring and adjusting your TRBO COG settings is crucial for achieving optimal results. By staying vigilant and adapting to evolving market trends, you can ensure that the indicator continues to provide you with accurate insights to inform your call decisions effectively.
8. Conclusion: Enhancing Decision-Making with TRBO COG
In conclusion, the TRBO COG indicator offers traders a valuable tool for identifying current trends and making informed call decisions. By understanding how to use the indicator to determine call timing, implementing effective risk management techniques, learning from real-world case studies, and following best practices for implementation and monitoring, traders can enhance their decision-making process and increase their chances of success in the market.
Conclusion: Enhancing Decision-Making with TRBO COG
Briss Thorn XtremeStrategy Description: Briss Thorn Xtreme
The Briss Thorn Xtreme is an innovative trading strategy designed to identify and capitalize on opportunities in the forex market through advanced technical analysis and dynamic risk management. This strategy combines calculations based on RSI and ATR with time and day filters, providing customized signals and real-time alerts via Discord. Ideal for traders seeking a structured and highly customizable methodology, Briss Thorn Xtreme integrates enhanced visual tools for efficient trade management.
Key Features:
RSI and ATR-Based Signals: Utilizes smoothed RSI and ATR calculations to identify trends and measure volatility, allowing for more precise detection of buy and sell opportunities.
Dynamic Stop-Loss (SL) and Take-Profit (TP) Levels: Automatically calculates SL and TP levels based on market volatility, dynamically adjusting to optimize risk management.
Advanced Discord Integration: Sends detailed alerts to your Discord channel, including information such as the asset, signal time, entry price, and SL/TP levels, facilitating real-time decision-making.
Complete Customization: Allows users to adjust key parameters such as RSI periods, smoothing factors, liquidity thresholds, trading schedules, and operation days, adapting to different trading styles and market conditions.
Enhanced Chart Visualization: Includes visual elements like candle color changes based on trend, colored boxes for SL and TP, and a summary table of recent trades, enabling quick market interpretation.
Day and Time Operation Filters: Enables selection of specific days of the week and time slots during which signals are generated, optimizing market exposure and avoiding periods of low liquidity or unwanted high volatility.
Trade Summary: Displays a summary of the last three trades directly on the chart, indicating whether TP or SL was reached, aiding in strategy performance evaluation.
Customizable Alert Messages: Allows customization of messages sent to Discord for buy and sell signals, tailoring them to your specific preferences and requirements.
Additional Visual Tools: Highlights the operational range on the chart during permitted trading hours and colors candles based on the current trend (bullish, bearish, or neutral), enhancing visibility and decision-making.
How the Strategy Works:
Technical Indicators Calculation:
- RSI (Relative Strength Index) : Calculates RSI with a defined period and smooths it using an Exponential Moving Average (EMA) to obtain a more stable and reliable signal.
- ATR (Average True Range) : Calculates ATR adjusted by a rapid liquidity factor to measure the current market volatility, thereby determining the strength of the trend.
Generating Buy and Sell Signals:
- Buy Signal: A buy signal is generated when the liquidity index surpasses the short liquidity level, indicating potential accumulation and an upward trend.
- Sell Signal: A sell signal is generated when the liquidity index falls below the long liquidity level, indicating potential distribution and a downward trend.
- Operation Conditions: Signals are only generated on selected days and times, avoiding periods of low liquidity or unwanted high volatility.
Dynamic SL and TP Levels Calculation:
- Stop-Loss (SL) and Take-Profit (TP): SL and TP levels are calculated based on the entry price and a defined number of ticks, automatically adjusting to market volatility to optimize risk management.
- SL and TP Visualization: Colored boxes are drawn on the chart for a clear visual reference of SL and TP levels, facilitating trade management.
Automatic Execution and Alerts:
- Order Execution: Upon signal generation, the strategy automatically executes a market order (buy or sell).
- Discord Alerts: Detailed alerts are sent to the configured Discord channel, providing essential information for swift decision-making, including asset, signal time, entry price, current volatility (ATR), and trend direction.
Trade Management and Monitoring:
- Trade Summary: A table on the chart displays a summary of the last three trades (Today, Yesterday, Day Before Yesterday), indicating whether TP or SL was reached, allowing real-time performance evaluation.
- Automatic Trade Closure: The strategy automatically closes trades upon reaching the established SL or TP levels, ensuring efficient risk management and preventing excessive losses.
Additional Visualization:
- Candle Coloring by Trend: Candles are colored based on the current trend (bullish, bearish, or neutral), facilitating quick identification of market direction.
- Operational Range Highlighting: The chart background is colored during permitted trading hours, highlighting active periods of the strategy and enhancing trade visibility.
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Strategy Properties (Important)
This backtest is conducted on M17 EURUSD using the following backtesting properties:
Initial Capital: $1000
Order Size: 1% of capital
Commission: $0.20 per order
Slippage: 1 tick
Pyramiding: 1 order
Price Verification for Limit Orders: 0 ticks
Recalculate on Order Execution: Enabled
Recalculate on Every Tick: Enabled
Recalculate After Order Execution: Enabled
Bar Magnifier for Backtesting Precision: Enabled
These properties ensure a realistic preview of the backtesting system. Note that default properties may vary for different reasons:
Order Size: It is essential to calculate the contract size according to the traded asset and desired risk level.
Commission and Slippage: These costs may vary depending on the market and instrument; there is no default value that guarantees realistic results.
All users are strongly recommended to adjust the properties within the script settings to align them with their trading accounts and platforms, ensuring that strategy results are realistic.
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Backtesting Results:
- Net Profit: $327.90 (32.79%)
- Total Closed Trades: 162
- Profit Percentage: 35.80%
- Profit Factor: 1.298
- Maximum Drawdown: $146.70 (10.27%)
- Average per Trade: $2.02 (0.02%)
- Average Bars per Trade: 22
These results were obtained under the mentioned conditions and properties, providing an overview of the strategy's historical performance.
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Interpretation of Results:
- The strategy has demonstrated profitability over the analyzed period, albeit with a success rate of 32.79%, indicating that success depends on a favorable risk-reward ratio.
- The profit factor of 1.298 suggests that total gains exceed total losses by this proportion.
- It is crucial to consider the maximum drawdown of 10.27% when evaluating the strategy's suitability to your risk tolerance.
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Risk Warning:
Trading with leveraged financial instruments involves a high level of risk and may not be suitable for all investors. Before deciding to trade, you should carefully consider your investment objectives, level of experience, and risk tolerance. Past performance does not guarantee future results. It is essential to perform additional testing and adjust the strategy according to your needs.
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What Makes This Strategy Original?
Unique RSI and Liquidity Focus: Unlike conventional strategies, Briss Thorn Xtreme focuses on combining RSI analysis with liquidity parameters to reflect institutional activity and macroeconomic events that may influence the market.
Advanced Technological Integration: The combination of automatic execution and customized alerts via Discord provides an efficient and modern tool for active traders.
Customization and Adaptability: The wide range of adjustable parameters allows the strategy to adapt to different assets, time zones, and trading styles, offering flexibility and complete user control.
Enhanced Visual Tools: Integrated visual elements, such as candle coloring, SL/TP boxes, and summary tables, facilitate quick market interpretation and informed decision-making.
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Additional Considerations
Continuous Testing and Optimization: Users are advised to perform additional backtests and optimize parameters based on their own observations and requirements.
Complementary Analysis: Use this strategy in conjunction with other indicators and fundamental analysis tools to reinforce decision-making and confirm generated signals.
Rigorous Risk Management: Ensure that SL and TP levels, as well as position sizes, are aligned with your risk management plan to avoid excessive losses.
Updates and Support: I am committed to providing updates and improvements based on community feedback. For inquiries or suggestions, feel free to contact me.
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Example Configuration
Assuming you want to use the strategy with the following parameters:
Discord Webhook: Your unique Discord Webhook
RSI Period: 6
RSI Smoothing Factor: 5
Rapid Liquidity Factor: 5
Liquidity Threshold: 5
SL Ticks: 100
TP Ticks: 250
SL/TP Box Width: 25 bars
Trading Days: Monday, Tuesday, Wednesday, Thursday, Friday
Trading Hours: Start at 8:00, End at 11:00
Simulated Initial Capital: $1000
Risk per Trade in Simulation: 1% of capital
Slippage and Commissions in Simulation: 1 tick slippage and $0.20 commission per trade
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Conclusion
The Briss Thorn Xtreme strategy offers an innovative approach by combining advanced technical analysis with dynamic risk management and modern technological tools. Its original and adaptable design makes it a valuable tool for traders looking to diversify their methods and capitalize on opportunities based on less conventional patterns. Ready for immediate implementation in TradingView, this strategy can enhance your trading arsenal and contribute to a more informed and structured approach in your operations.
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Final Disclaimer:
Financial markets are volatile and can present significant risks. This strategy should be used as part of a comprehensive trading approach and does not guarantee positive results. It is always advisable to consult with a professional financial advisor before making investment decisions.
Volume Surge Webhook AlertThis TradingView indicator, named "Volume Surge Webhook Alert," is designed to find significant increases in trading volume and send out alerts with key information. It works by looking back at the volume over a certain number of past candlesticks, which you can set using the "Lookback Period" input. The indicator calculates the average volume during this period. Then, it sets a threshold for what counts as a "volume surge." This threshold is a percentage increase over the average volume, and you can adjust this percentage using the "Volume Surge Threshold (%)" input.
When the current candlestick's volume is higher than this threshold, the indicator considers it a volume surge. To help you see this visually, the indicator plots three lines on a separate chart: the average volume (in blue), the current volume (in red), and the threshold volume (in gray circles).
If a volume surge happens, the indicator creates a webhook alert. This alert sends a message in a structured format (like a digital envelope) that contains the following information: the symbol of the stock or cryptocurrency, the timeframe of the chart you're looking at, the current volume, the average volume, the threshold volume, and a simple message saying a volume surge was detected. This alert is sent only once when the candlestick closes with a volume surge.
Additionally, when a volume surge is detected, a small red exclamation mark "!" will appear above that candlestick on the main price chart.
Essentially, this indicator helps traders spot times when trading volume is unusually high, which can sometimes be a sign of important price movements. You can customize how sensitive the indicator is by changing the "Lookback Period" and the "Volume Surge Threshold (%)". The webhook alerts allow you to be notified automatically when these surges occur, so you don't have to constantly watch the charts.
