EagleVision.V33 - Inside Pin Bar EagleVision.V33 is a specialized indicator designed for traders who focus on price action. It detects and highlights the Inside Pin Bar candle pattern, a key signal that can indicate potential market reversals or trend continuations. This tool is invaluable for traders who rely on precise candlestick patterns to make data-driven decisions.
Features:
• Customizable Pattern Highlighting: EagleVision.V33 allows traders to choose custom colors to highlight Inside Pin Bar patterns directly on the chart. This makes identifying critical trading signals straightforward, even in busy market conditions.
• Pin Bar Candle Customization: Beyond just highlighting, the indicator enables users to change the color of the detected pin bar itself, ensuring that crucial patterns are immediately visible and easy to track.
• Versatile Timeframe Application: The indicator can be applied across various timeframes, from intraday (1 minute, 5 minutes) to longer-term charts (daily, weekly). Users can easily switch between timeframes within the settings, making it adaptable to different trading strategies.
• Enhanced Visual Clarity with Background Highlighting: For traders who prefer additional emphasis, EagleVision.V33 offers an option to apply a background color that highlights the entire region where the Inside Pin Bar pattern is detected.
How It Works:
• Inside Bar Identification: The indicator first identifies an Inside Bar, where a candle’s high and low fall within the range of the preceding candle (the mother bar). This is a foundational pattern in price action trading.
• Pin Bar Detection: It then checks if the candle is a Pin Bar, characterized by a small body and a prominent wick (either upper or lower), which typically signals potential market turning points.
• Pattern Highlighting & Visualization: Upon detecting both conditions (Inside Bar and Pin Bar), EagleVision.V33 highlights the pattern using customizable shapes and colors, and optionally applies a background shade to further enhance visibility.
Use Cases:
• Reversals at Key Levels: The Inside Pin Bar pattern often appears at significant support or resistance levels, signaling potential reversals. EagleVision.V33 helps traders spot these opportunities early.
• Trend Continuations: In trending markets, this pattern can confirm the continuation of a trend, providing traders with the confidence to hold positions or enter new ones.
Customization Options:
• Pattern Highlight Color: Choose a distinct color for the label or shape that marks the Inside Pin Bar pattern, making it stand out against other chart elements.
• Pin Bar Candle Color: Customize the color of the Pin Bar itself, ensuring that it is immediately recognizable on the chart.
• Background Highlighting: Optionally apply a background color to the chart area where the pattern is detected, further enhancing visual clarity and making it easier to spot potential trading opportunities.
Why EagleVision.V33 Stands Out:
EagleVision.V33 is not just another pattern detection tool; it’s engineered for precision and clarity, with highly customizable features that cater to the unique needs of price action traders. By combining both Inside Bar and Pin Bar detection, it offers a powerful edge, providing traders with actionable insights directly on their charts.
חפש סקריפטים עבור "chart"
BINANCE-BYBIT Cross Chart: Spot-Perpetual CorrelationName: "Binance-Bybit Cross Chart: Spot-Perpetual Correlation"
Category: Scalping, Trend Analysis
Timeframe: 1M, 5M, 30M, 1D (depending on the specific technique)
Technical analysis: This indicator facilitates a comparison between the price movements shown on the Binance spot chart and the Bybit perpetual chart, with the aim of discerning the correlation between the two charts and identifying the dominant market trends. It automatically generates the corresponding chart based on the ticker selected in the primary chart. When a Binance pair is selected in the main chart, the indicator replicates the Bybit perpetual chart for the same pair and timeframe, and vice versa, selecting the Bybit perpetual chart as the primary chart generates the Binance spot chart.
Suggested use: You can utilize this tool to conduct altcoin trading on Binance or Bybit, facilitating the comparison of price actions and real-time monitoring of trigger point sensitivity across both exchanges. We recommend prioritizing the Binance Spot chart in the main panel due to its typically longer historical data availability compared to Bybit.
The primary objective is to efficiently and automatically manage the following three aspects:
- Data history analysis for higher timeframes, leveraging the extensive historical data of the Binance spot market. Variations in indicators such as slow moving averages may arise due to differences in historical data between exchanges.
- Assessment of coin liquidity on both exchanges by observing candlestick consistency on smaller timeframes or the absence of gaps. In the crypto market, clean charts devoid of gaps indicate dominance and offer enhanced reliability.
- Identification of precise trigger point levels, including daily, previous day, or previous week highs and lows, which serve as sensitive areas for breakout or reversal operations.
All-Time High (ATH) and All-Time Low (ATL) levels may vary significantly across exchanges due to disparities in historical data series.
This tool empowers traders to make informed decisions by leveraging historical data, liquidity insights, and precise trigger point identification across Binance Spot and Bybit Perpetual market.
Configuration:
EMA length:
- EMA 1: Default 5, user configurable
- EMA 2: Default 10, user configurable
- EMA 3: Default 60, user configurable
- EMA 4: Default 223, user configurable
- Additional Average: Optional display of an additional average, such as a 20-period average.
Chart Elements:
- Session separator: Indicates the beginning of the current session (in blue)
- Background: Indicates an uptrend (60 > 223) with a green background and a downtrend (60 < 223) with a red background.
Instruments:
- EMA Daily: Shows daily averages on an intraday timeframe.
- EMA levels 1h - 30m: Shows the levels of the 1g-30m EMAs.
- EMA Levels Highest TF: Provides the option to select additional EMA levels from the major timeframes, customizable via the drop-down menu.
- "Hammer Detector: Marks hammers with a green triangle and inverted hammers with a red triangle on the chart
- "Azzeramento" signal on TF > 30m: Indicates a small candlestick on the EMA after a dump.
- "No Fomo" signal on TF < 30m: Indicates a hyperextended movement.
Trigger Points:
- Today's highs and lows: Shows the opening price of the day's candlestick, along with the day's highs and lows (high in purple, low in red, open in green).
- Yesterday's highs and lows: Displays the opening price of the daily candlestick, along with the previous day's highs and lows (high in yellow, low in red).
You can customize the colors in "Settings" > "Style".
It is best used with the Scalping The Bull indicator on the main panel.
Credits:
@tumiza999: for tests and suggestions.
Thanks for your attention, happy to support the TradingView community.
Custom Renko Chart by Mustafa KapuzThis Pine Script, developed by Mustafa Kapuz, offers a unique approach to visualize price movements through a custom Renko chart directly on your TradingView overlay. Unlike traditional Renko charts that are detached from time series, this script allows traders to overlay Renko-style price movements over standard charts, providing a hybrid view that combines the clarity of Renko with the context of time-based charting.
Key Features:
Adaptive Brick Size: At the heart of this script is the Brick Size input, allowing users to define the size of each Renko brick. This flexibility is crucial for tailoring the chart to various commodities or assets, as volatility and price scales differ widely across markets.
Dynamic Price Adjustment: The script dynamically adjusts to price movements, creating new bricks whenever the price moves by the predefined Brick Size from the last brick value. This adjustment is made regardless of the time elapsed, focusing solely on price action, thereby filtering out minor fluctuations and highlighting significant trends.
Visual Clarity: Rendered as a step line, the resulting Renko chart provides a clear visual representation of price trends. Each step signifies a new brick, painted in blue for easy visibility. This method simplifies the analysis of directional movements, making it easier to identify potential entry and exit points.
Usage Tips:
To optimize the chart for different markets, experiment with the Brick Size parameter. Adjusting this value allows the chart to better reflect the unique characteristics of each commodity or asset, ranging from highly volatile cryptocurrencies to more stable fiat currencies or stocks.
This custom Renko chart can be a powerful addition to your trading toolkit, especially when used in conjunction with other indicators and analysis techniques. It's designed to offer a new perspective on price movements, filtering out the 'noise' and focusing on substantial trends.
By customizing the Brick Size, traders can tailor the chart to various commodities, achieving a versatile analysis tool that adapts to different market conditions. Whether you're a seasoned trader or new to the markets, this script provides a fresh lens through which to view and interpret price action, enhancing your trading strategy with the timeless principles of Renko charting, now integrated into your TradingView experience.
Flat Combo DetectorFlat Combo Detector (FCD)
Introduction:
The Flat Combo Detector is a unique tool crafted to aid traders in identifying potential trend reversals. Unlike standard indicators that primarily focus on moving averages or oscillators, the FCD bases its signals on specific candlestick patterns that manifest at crucial trend pivot points.
I use it mostly on OANDA:XAUUSD Gold
How It Works:
The logic of the Flat Combo Detector revolves around the formation of consecutive bearish and bullish candles with particular attributes:
Bearish to Bullish Transition:
Primary Candle : A bearish candle where the close is lower than the open and its close is equal to its low.
Following Candle: A bullish candle where the close is higher than the open, and the open approximates its low (within a user-defined tolerance).
Signal : A green triangle plotted below the price bar, indicating a potential shift from a bearish to bullish trend.
Bullish to Bearish Transition:
Primary Candle: A bullish candle where the close is higher than the open and equals its high.
Following Candle : A bearish candle where the close is lower than the open, and the open approximates its high (within a user-defined tolerance).
Signal : A red triangle plotted above the price bar, indicating a potential transition from a bullish to bearish trend.
Usage Guidance:
For traders unfamiliar with Pine Script, using this indicator is straightforward. Once added to the chart, look for the green and red triangle signals. A green triangle below a price bar suggests a possible bullish reversal, while a red triangle above a price bar hints at a potential bearish reversal. Always consider these signals in conjunction with other technical analysis tools and the broader market context to optimize decision-making.
Associated Strategy:
I've also developed a trading strategy that utilizes these specific entry points identified by the FCD. If you find the signals from this indicator helpful, you might also be interested in exploring the strategy for a comprehensive trading approach. Always remember to backtest and validate any strategy before live trading.
Chart Presentation:
The published chart associated with this script has been kept clean to ensure clarity. Users will only observe the main price bars/candles along with the green and red triangle signals generated by the FCD.
Conclusion:
The Flat Combo Detector provides traders with a fresh perspective on trend reversal points. Its focus on specific candlestick patterns makes it a valuable tool, especially when used in combination with other technical indicators. Always ensure to practice prudent risk management and consult multiple analysis methods before making trading decisions.
TrendLine CrossThis indicator "TrendLine Cross", is designed to plot trend lines so you can spot potential trend reversal points on the charts. The main function is to draw several lines on the chart and identify the crossings between these lines, which can be significant indicators for trading. The lines are based on different periods which can be changed in the settings tabs.
Let's see the characteristics of the trend lines:
_Low Line Color(Green Line): This line connects the lowest point of low prices in the "low_time" period with the lowest point of low prices in the "high_time" period. Indicates a possible short-term support level on the chart.
_Liquidity Up Line Color (Golden Line): This line connects the lowest point of low prices in the "low_time" period with the highest point of low prices in the same period. It represents a liquidity zone and an important resistance in the chart.
_Lower Line Color (Blue Line): This horizontal line connects the lowest point of low prices in the "LowerLine_period" with the lowest point of low prices in the "high_time" period. Indicates a possible long-term support level.
_Upper Line Colorr: This line represents a connection between the highest points of the "high_time" period and the lowest point of the "LowerLine_period". Indicates a possible long-term resistance level.
_Up Line Color (Red Line): This line connects the highest point of high prices in the "high_time" period with the highest point of high prices in the "LowerLine_period". It represents a possible long-term resistance level.
_Liquidity Down Line Color(Golden Line): This line connects the highest point of high prices in the "high_time" period with the highest point of low prices in the "low_time" period. It represents a liquidity point and an important support zone.
The indicator becomes particularly interesting when the lines make crossings. These crossovers could suggest a potential trend change in the market. For example:
Change from Bearish to Bullish: If the "long-term" line (black) crosses the "short- or long-term" line (green or blue) from top to bottom, it could indicate a shift from a bearish to a bullish market , suggesting the opportunity for long positions.
_Changing from Bullish to Bearish: If the "long-term" line (blue) crosses the "short-term" line (red or black) from bottom to top, it could indicate a shift from a bullish to a bearish market, suggesting the opportunity for short positions.
Generally speaking, crossings between these lines can be key points of interest for traders, as they can signal significant changes in price direction.
Opening Range Gap + Std Dev [starclique]The ICT Opening Range Gap is a concept taught by Inner Circle Trader and is discussed in the videos: 'One Trading Setup For Life' and 2023 ICT Mentorship - Opening Range Gap Repricing Macro
ORGs, or Opening Range Gaps, are gaps that form only on the Regular Trading Hours chart.
The Regular Trading Hours gap occurs between 16:15 PM - 9:29 AM EST (UTC-4)
These times are considered overnight trading, so it is useful to filter the PA (price action) formed there.
The RTH option is only available for futures contracts and continuous futures from CME Group.
To change your chart to RTH, first things first, make sure you’re looking at a futures contract for an asset class, then on the bottom right of your chart, you’ll see ETH (by default) - Click on that, and change it to RTH.
Now your charts are filtering the price action that happened overnight.
To draw out your gap, use the Close of the 4:14 PM candle and the open of the 9:30 AM candle.
How is this concept useful?
Well, It can be used in many ways.
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How To Use The ORG
One of the ways you can use the opening range gap is simply as support and resistance
If we extend out the ORG from the example above, we can see that there is a clean retest of the opening range gap high after breaking structure to the upside and showing acceptance outside of the gap after consolidating within it.
The ORG High (4:14 Candle Close in this case) was used as support.
We then see an expansion to the upside.
Another way to implement the ORG is by using it as a draw on liquidity (magnet for price)
In this example, if we looked to the left, there was a huge ORG to the downside, leaving a massive gap.
The market will want to rebalance that gap during the regular trading hours.
The market rallies higher, rejects, comes down to clear the current days ORG low, then closes.
That is one example of how you can combine liquidity & ICT market structure concepts with Opening Range Gaps to create a story in the charts.
Now let’s discuss standard deviations.
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Standard Deviations
Standard Deviations are essentially projection levels for ranges / POIs (Point of Interests)
By this I mean, if you have a range, and you would like to see where it could potentially expand to, you’d place your fibonacci retracement tool on and high and low of the range, then use extension levels to find specific price points where price might reject from.
Since 0 and 1 are your Range High and Low respectively, your projection levels would be something like 1.5, 2, 2.5, and 3, for the extension from your 1 Fib Level, and -0.5, -1, -1.5, and -2 for your 0 Fib level.
The -1 and 2 level produce a 1:1 projection of your range low and high, meaning, if you expect price to expand as much as it did from the range low to range high, then you can project a -1 and 2 on your Fib, and it would show you what ICT calls “symmetrical price”
Now, how are standard deviations relevant here?
Well, if you’ve been paying attention to ICT’s recent videos, you would’ve caught that he’s recently started using Standard Deviation levels on breakers.
So my brain got going while watching his video on ORGs, and I decided to place the fib on the ORG high and low and see what it’d produce.
The results were very interesting.
Using this same example, if we place our fib on the ORG High and Low, and add some projection levels, we can see that we rejected right at the -2 Standard Deviation Level.
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You can see that I also marked out the EQ (Equilibrium, 50%, 0.5 of Fib) of the ORG. This is because we can use this level as a take profit level if we’re using an old ORG as our draw.
In days like these, where the gap formed was within a consolidation, and it continued to consolidate within the ORG zone that we extended, we can use the EQ in the same way we’d use an EQ for a range.
If it’s showing acceptance above the EQ, we are bullish, and expect the high of the ORG to be tapped, and vice versa.
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Using The Indicator
Here’s where our indicator comes in play.
To avoid having to do all this work of zooming in and marking out the close and open of the respective ORG candles, we created the Opening Range Gap + Standard Deviations Indicator, with the help of our dedicated Star Clique coder, a1tmaniac.
With the ORG + STD DEV indicator, you will be able to view ORG’s and their projections on the ETH (Electronic Trading Hours) chart.
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Features
Range Box
- Change the color of your Opening Range Gap to your liking
- Enable or disable the box from appearing using the checkbox
Range Midline
- Change the color of your Opening Range Gap Equilibrium
- Enable or disable the midline from appearing using the checkbox
Std. Dev
- Add whichever standard deviation levels you’d like.
- By default, the indicator comes with 0.5, 1, 1.5, and 2 standard deviation levels.
- Ensure that you add a comma ( , ) in between each standard deviation level
- Enable or disable the standard deviations from appearing using the opacity of the color (change to 0%)
Labels / Offset
- Adjust the offset of the label for the Standard Deviations
- Enable or disable the Labels from appearing using the checkbox
Time
- Adjust the time used for the indicators range
- If you’d like to use this for a Session or ICT Killzone instead, adjust the time
- Adjust the timezone used for the time referenced
- Options are UTC, US (UTC-4, New York Local Time) or UK (UTC+1, London Time)
- By default, the indicator is set to US
EquiVolume [LuxAlgo]EquiVolume is a charting method that aims to incorporate volume information to a candlestick chart. Volume is highlighted through the candle body width, with wider candles suggesting more significant volume.
Our script shows an EquiVolume chart for the visible chart range. Additionally regular volume can be plotted as a column plot with the column's width controlled by volume.
🔶 SETTINGS
🔹 Options
Chart: Shows candles with volume adjusted width.
Volume: Shows volume with volume adjusted width.
🔹 Intrabar Analysis
Enable/disable: When LTF is enabled, the script will calculate the % volume/candles in the same direction than current timeframe.
You can choose a LTF between 1 and 240 minutes.
Type %:
- Volume: sum of volume of all LTF candles, which are in the same direction.
- #bars: sum of all LTF candles, which are in the same direction.
🔹 Width Boxes (bars)
Minimum width: sets the minimum width of a box (candle/volume)
Maximum width: sets the maximum width of a box (candle/volume)
🔶 USAGE
This charting method makes it easier to spot large volume candles, against comparing candles to volume.
Another example:
Additionally, users can make the script perform an intrabar analysis on the chart candles, allowing to highlight bullish/bearish activity within a candle. The script can estimate bullish/bearish trading activity within a candle or simply use intrabar candle signs.
Example
- 15-minute candle is green
- 10 1-minute candles (LTF) IN that 15-minute candle are green -> 10/15 = 66,667%
-> The current 15-minute candle will be 66,667% filled with green color.
Note that the script will draw everything from last visible bar at the right to left, as such you can scroll backwards, and the script will show you the data of the visible chart.
Scrolling back will return the following result:
🔶 REMARKS
When the LTF is too far apart from current timeframe, you should get an error. To prevent this, the LTF will automatically rise, giving no error.
When this happens, the adjusted LTF will be displayed. Do note, due to a maximum available LTF data, sometimes boxes won't always be visible (since there is no LTF data anymore)
To solve this, just elevate your LTF:
When the set LTF is higher than current TF, you would normally get an error as well.
This script will automatically adjust the LTF to current TF, together with a visible warning (no error though).
Due to the inability to draw a line in the space between bars, sometimes a wick won't be placed exactly in the middle.
Fair Value Gap - FVG - HistogramThis indicator uses a histogram to represent "fair value gaps" ("FVG"). FVG is a popular pattern among modern traders.
This document describes the purpose of the script and discusses the conceptual meaning of "fair value," as well as the connotations attached to it.
█🚀 Based on the previous script - improved clarity
This indicator is a modified version of the "Three Bar Gap (Simple Price Action - with 1 line plot)" indicator, which is also available as open source and can be applied to a chart as a complementary tool along with this indicator.
Differences:
The previous version introduced a "Threshold filter" to reduce the number of lines plotted on charts. This filter introduced two additional parameters for users to consider (ATR length and multiplier). These parameters made the indicator more complicated than intended.
To address this issue of having too many lines in the former version, I proposed a spin-off on this version: It's to consider plotting the magnitude of the FVGs on a histogram instead of using lines on a price chart. In my opinion, a histogram is more suitable for decision-making because it lays out data points side-by-side as bins, which makes comparisons much clearer.
Minor FVGs are expected to have smaller bins compared to their neighboring bins, and in extreme cases, the bins will become seemingly invisible due to the auto-adjusted scale of the y-axis. Therefore, there is no need to filter out any data, and all FVGs can be included in this spin-off version.
█🚀 Candlestick patterns - revisited
This script calculates the displacement of highs and lows over three consecutive bars.
A) Down move: When the high of the recent-confirmed bar is lower than the low of the previous-previous candle.
B) Up move: When the low of the recently-confirmed bar is higher than the high of the previous-previous candle.
█🚀 Parameters
Core Functionality
The purpose of this indicator is to generate bins representing the magnitude of FVGs in the form of a histogram to facilitate the visualization of price movements.
The act of "finding FVGs" does not require any inputs, but users can still customize the colors of the bins to indicate the direction of movement.
Auxiliary functionality: “Key level finder” by searching for large FVGs
The following inputs are optional, in fact, the entire feature can be toggled on/off.
In this example, setting the lookback at 20 means the script will generate a signal if the current histogram bin is taller than all previous bins over the past 20 bars.
█🚀 Applications
Tall histogram bins = key levels .
Traders should observe key levels for entry or exit opportunities.
It is important to note that this indicator was designed for standard time-based charts.
On a separate note, FVGs will not appear in Renko charts with fixed-size bricks. This is because the bricks align with their neighboring bricks. When the bricks are fixed, any displacement between highs and lows within less than or equal to three bars will be zero.
The concept of a "gap" is used to illustrate that price follows a jump-diffusion process, and time intervals can be assigned arbitrarily on the x-axis without needing fixed intervals. This idea was briefly discussed in the previous script's write-up.
█🚀 FAQ: Does it repaint?
No. And please continue reading.
Bins are plotted with a one-bar delay. It only takes one bar for the FVG to become confirmed. Lag is beneficial because it clarifies the need for traders to wait for the bar to close and for the signals to become confirmed before entering or exiting a trade. Experienced traders know that prices tend to retrace, so there is no need to chase. An added bar of delay proves to be useful.
█🚀 Opinion: The term “fair value” can be misleading
Those who come from traditional finance may find the term "fair value gap" somewhat insulting. When encountering the phrase, it can feel like a group of aliens from "Planet Technical Analysis" have intrusively landed on your planet and assertively redefined what "fair value" is supposed to mean.
So, what does "fair value" mean in the realm of technical analysis?
In the world of corporate finance, "fair value" is a subjective estimate of what buyers and sellers are hypothetically willing to pay or accept. Buy-side and sell-side analysts use their own methodologies to determine what constitutes "fair value". These approaches may be based on income, asset, or market comparables. Regardless of the approach used, subjectivity is inherent, and results depend on fundamental data provided by the numbers on financial statements. Valuations are unrelated to candlestick patterns .
When dealing with financial statements, finance professionals who are non-market-participants, such as those working in group reporting practices for reporting issuers, or those hired as external auditors, as required by regulators, may also question what constitutes "fair value". The main concerns always revolve around the assumptions used in valuation models; these are inputs that ultimately require management's judgment, and if not critically questioned, valuations as reported in the statements could end up becoming materially bogus. Both IFRS and U.S. GAAP define "fair value" with the same intended meaning in terms of definitions. We will not delve into the details here. The main point is that "fair value" from a financial reporting perspective has nothing to do with candlesticks .
If a price is already quoted in an actively traded market, you can refer to it to obtain what is known as "mark-to-market". This involves simply referring to the bid or ask price on the reporting date, and you're done - there's no need to read candlesticks !
"Fair value" is a neutral term used by finance professionals in all domains. It is not meant to imply that something is actually "fair." Paying the "fair value" for an asset can still result in overpaying or underpaying for what the asset is worth, depending on different model assumptions. The point is, candlesticks are irrelevant to the analysis of what is considered "fair value" in the realm of traditional finance.
That being said, there is no definitive answer as to why people refer to this pattern as a "fair value gap". It's like one of those oddball interview questions asking you to explain why tennis balls are fuzzy. Whatever answer you give, it's important to note that the subject itself is trivial.
Emphasis of matter on why "fair value" can be misleading
The previous paragraphs were not intended to attack ideas from the realm of technical analysis, nor to assert the true meaning, or lack of meaning, of the term "fair value". Words are constantly evolving. If the term "fair value gap" becomes more widely used to describe the displacement of highs and lows over three bars, then let's call it a "fair value gap".
To be clear, I argue that the term "fair value gap" should not be given a positive connotation. Traders should interpret the word "fair" neutrally. Although these signals occur frequently, if you trade every time there is a signal, you will overtrade and incur astronomical transaction costs over the long run, which can lead to losses.
█🚀 Conclusion:
In the end, what matters is how you apply FVG to trading. As mentioned in the "Applications" section above, traders should look for large FVGs - indicated by tall histogram bins - to identify key levels.
Session candles & reversals / quantifytools— Overview
Like traditional candles, session based candles are a visualization of open, high, low and close values, but based on session time periods instead of typical timeframes such as daily or weekly. Session candles are formed by fetching price at session start (open), highest price during session (high), lowest price during session (low) and price at session end (close). On top of candles, session based moving average is formed and session reversals detected. Session reversals are also backtested, using win rate and magnitude metrics to better understand what to expect from session reversals and which ones have historically performed the best.
By default, following session time periods are used:
Session #1: London (08:00 - 17:00, UTC)
Session #2: New York (13:00 - 22:00, UTC)
Session #3: Sydney (21:00 - 06:00, UTC)
Session #4: Tokyo (00:00 - 09:00, UTC)
Session time periods can be changed via input menu.
— Reversals
Session reversals are patterns that show a rapid change in direction during session. These formations are more familiarly known as wicks or engulfing candles. Following criteria must be met to qualify as a session reversal:
Wick up:
Lower high, lower low, close >= 65% of session range (0% being the very low, 100% being the very high) and open >= 40% of session range.
Wick down:
Higher high, higher low, close <= 35% of session range and open <= 60% of session range.
Engulfing up:
Higher high, lower low, close >= 65% of session range.
Engulfing down:
Higher high, lower low, close <= 35% of session range.
Session reversals are always based on prior corresponding session , e.g. to qualify as a NY session engulfing up, NY session must have a higher high and lower low relative to prior NY session , not just any session that has taken place in between. Session reversals should be viewed the same way wicks/engulfing formations are viewed on traditional timeframe based candles. Essentially, wick reversals (light green/red labels) tell you most of the motion during session was reversed. Engulfing reversals (dark green/red labels) on the other hand tell you all of the motion was reversed and new direction set.
— Backtesting
Session reversals are backtested using win rate and magnitude metrics. A session reversal is considered successful when next corresponding session closes higher/lower than session reversal close . Win rate is formed by dividing successful session reversal count with total reversal count, e.g. 5 successful reversals up / 10 reversals up total = 50% win rate. Win rate tells us what are the odds (historically) of session reversal producing a clean supporting move that was persistent enough to close that way too.
When a session reversal is successful, its magnitude is measured using percentage increase/decrease from session reversal close to next corresponding session high/low . If NY session closes higher than prior NY session that was a reversal up, the percentage increase from prior session close (reversal close) to current session high is measured. If NY session closes lower than prior NY session that was a reversal down, the percentage decrease from prior session close to current session low is measured.
Average magnitude is formed by dividing all percentage increases/decreases with total reversal count, e.g. 10 total reversals up with 1% increase each -> 10% net increase from all reversals -> 10% total increase / 10 total reversals up = 1% average magnitude. Magnitude metric supports win rate by indicating the depth of successful session reversal moves.
To better understand the backtesting calculations and more importantly to verify their validity, backtesting visuals for each session can be plotted on the chart:
All backtesting results are shown in the backtesting panel on top right corner, with highest win rates and magnitude metrics for both reversals up and down marked separately. Note that past performance is not a guarantee of future performance and session reversals as they are should not be viewed as a complete strategy for long/short plays. Always make sure reversal count is sufficient to draw reliable conclusions of performance.
— Session moving average
Users can form a session based moving average with their preferred smoothing method (SMA , EMA , HMA , WMA , RMA) and length, as well as choose which sessions to include in the moving average. For example, a moving average based on New York and Tokyo sessions can be formed, leaving London and Sydney completely out of the calculation.
— Visuals
By default, script hides your candles/bars, although in the case of candles borders will still be visible. Switching to bars/line will make your regular chart visuals 100% hidden. This setting can be turned off via input menu. As some sessions overlap, each session candle can be separately offsetted forward, clearing the overlaps. Users can also choose which session candles to show/hide.
Session periods can be highlighted on the chart as a background color, applicable to only session candles that are activated. By default, session reversals are referred to as L (London), N (New York), S (Sydney) and T (Tokyo) in both reversal labels and backtesting table. By toggling on "Numerize sessions", these will be replaced with 1, 2, 3 and 4. This will be helpful when using a custom session that isn't any of the above.
Visual settings example:
Session candles are plotted in two formats, using boxes and lines as well as plotcandle() function. Session candles constructed using boxes and lines will be clear and much easier on the eyes, but will apply only to first 500 bars due to Tradingview related limitations. Rest of the session candles go back indefinitely, but won't be as clean:
All colors can be customized via input menu.
— Timeframe & session time period considerations
As a rule of thumb, session candles should be used on timeframes at or below 1H, as higher timeframes might not match with session period start/end, leading to incorrect plots. Using 1 hour timeframe will bring optimal results as greatest amount historical data is available without sacrificing accuracy of OHLC values. If you are using a custom session that is not based on hourly period (e.g. 08:00 - 15:00 vs. 08.00 - 15.15) make sure you are using a timeframe that allows correct plots.
Session time periods applied by default are rough estimates and might be out of bounds on some charts, like NYSE listed equities. This is rarely a problem on assets that have extensive trading hours, like futures or cryptocurrency. If a session is out of bounds (asset isn't traded during the set session time period) the script won't plot given session candle and its backtesting metrics will be NA. This can be fixed by changing the session time periods to match with given asset trading hours, although you will have to consider whether or not this defeats the purpose of having candles based on sessions.
— Practical guide
Whether based on traditional timeframes or sessions, reversals should always be considered as only one piece of evidence of price turning. Never react to them without considering other factors that might support the thesis, such as levels and multi-timeframe analysis. In short, same basic charting principles apply with session candles that apply with normal candles. Use discretion.
Example #1 : Focusing efforts on session reversals at distinct support/resistance levels
A reversal against a level holds more value than a reversal by itself, as you know it's a placement where liquidity can be expected. A reversal serves as a confirming reaction for this expectation.
Example #2 : Focusing efforts on highest performing reversals and avoiding poorly performing ones
As you have data backed evidence of session reversal performance, it makes sense to focus your efforts on the ones that perform best. If some session reversal is clearly performing poorly, you would want to avoid it, since there's nothing backing up its validity.
Example #3 : Reversal clusters
Two is better than one, three is better than two and so on. If there are rapid changes in direction within multiple sessions consecutively, there's heavier evidence of a dynamic shift in price. In such case, it makes sense to hold more confidence in price halting/turning.
VisibleChart█ OVERVIEW
This library is a Pine programmer’s tool containing functions that return values calculated from the range of visible bars on the chart.
This is now possible in Pine Script™ thanks to the recently-released chart.left_visible_bar_time and chart.right_visible_bar_time built-ins, which return the opening time of the leftmost and rightmost bars on the chart. These values update as traders scroll or zoom their charts, which gives way to a class of indicators that can dynamically recalculate and draw visuals on visible bars only, as users scroll or zoom their charts. We hope this library's functions help you make the most of the world of possibilities these new built-ins provide for Pine scripts.
For an example of a script using this library, have a look at the Chart VWAP indicator.
█ CONCEPTS
Chart properties
The new chart.left_visible_bar_time and chart.right_visible_bar_time variables return the opening time of the leftmost and rightmost bars on the chart. They are only two of many new built-ins in the `chart.*` namespace. See this blog post for more information, or look them up by typing "chart." in the Pine Script™ Reference Manual .
Dynamic recalculation of scripts on visible bars
Any script using chart.left_visible_bar_time or chart.right_visible_bar_time acquires a unique property, which triggers its recalculation when traders scroll or zoom their charts in such a way that the range of visible bars on the chart changes. This library's functions use the two recent built-ins to derive various values from the range of visible bars.
Designing your scripts for dynamic recalculation
For the library's functions to work correctly, they must be called on every bar. For reliable results, assign their results to global variables and then use the variables locally where needed — not the raw function calls.
Some functions like `barIsVisible()` or `open()` will return a value starting on the leftmost visible bar. Others such as `high()` or `low()` will also return a value starting on the leftmost visible bar, but their correct value can only be known on the rightmost visible bar, after all visible bars have been analyzed by the script.
You can plot values as the script executes on visible bars, but efficient code will, when possible, create resource-intensive labels, lines or tables only once in the global scope using var , and then use the setter functions to modify their properties on the last bar only. The example code included in this library uses this method.
Keep in mind that when your script uses chart.left_visible_bar_time or chart.right_visible_bar_time , your script will recalculate on all bars each time the user scrolls or zooms their chart. To provide script users with the best experience you should strive to keep calculations to a minimum and use efficient code so that traders are not always waiting for your script to recalculate every time they scroll or zoom their chart.
Another aspect to consider is the fact that the rightmost visible bar will not always be the last bar in the dataset. When script users scroll back in time, a large portion of the time series the script calculates on may be situated after the rightmost visible bar. We can never assume the rightmost visible bar is also the last bar of the time series. Use `barIsVisible()` to restrict calculations to visible bars, but also consider that your script can continue to execute past them.
Look first. Then leap.
█ FUNCTIONS
The library contains the following functions:
barIsVisible()
Condition to determine if a given bar is within the users visible time range.
Returns: (bool) True if the the calling bar is between the `chart.left_visible_bar_time` and the `chart.right_visible_bar_time`.
high()
Determines the value of the highest `high` in visible bars.
Returns: (float) The maximum high value of visible chart bars.
highBarIndex()
Determines the `bar_index` of the highest `high` in visible bars.
Returns: (int) The `bar_index` of the `high()`.
highBarTime()
Determines the bar time of the highest `high` in visible bars.
Returns: (int) The `time` of the `high()`.
low()
Determines the value of the lowest `low` in visible bars.
Returns: (float) The minimum low value of visible chart bars.
lowBarIndex()
Determines the `bar_index` of the lowest `low` in visible bars.
Returns: (int) The `bar_index` of the `low()`.
lowBarTime()
Determines the bar time of the lowest `low` in visible bars.
Returns: (int) The `time` of the `low()`.
open()
Determines the value of the opening price in the visible chart time range.
Returns: (float) The `open` of the leftmost visible chart bar.
close()
Determines the value of the closing price in the visible chart time range.
Returns: (float) The `close` of the rightmost visible chart bar.
leftBarIndex()
Determines the `bar_index` of the leftmost visible chart bar.
Returns: (int) A `bar_index`.
rightBarIndex()
Determines the `bar_index` of the rightmost visible chart bar.
Returns: (int) A `bar_index`
bars()
Determines the number of visible chart bars.
Returns: (int) The number of bars.
volume()
Determines the sum of volume of all visible chart bars.
Returns: (float) The cumulative sum of volume.
ohlcv()
Determines the open, high, low, close, and volume sum of the visible bar time range.
Returns: ( ) A tuple of the OHLCV values for the visible chart bars. Example: open is chart left, high is the highest visible high, etc.
chartYPct(pct)
Determines a price level as a percentage of the visible bar price range, which depends on the chart's top/bottom margins in "Settings/Appearance".
Parameters:
pct : (series float) Percentage of the visible price range (50 is 50%). Negative values are allowed.
Returns: (float) A price level equal to the `pct` of the price range between the high and low of visible chart bars. Example: 50 is halfway between the visible high and low.
chartXTimePct(pct)
Determines a time as a percentage of the visible bar time range.
Parameters:
pct : (series float) Percentage of the visible time range (50 is 50%). Negative values are allowed.
Returns: (float) A time in UNIX format equal to the `pct` of the time range from the `chart.left_visible_bar_time` to the `chart.right_visible_bar_time`. Example: 50 is halfway from the leftmost visible bar to the rightmost.
chartXIndexPct(pct)
Determines a `bar_index` as a percentage of the visible bar time range.
Parameters:
pct : (series float) Percentage of the visible time range (50 is 50%). Negative values are allowed.
Returns: (float) A time in UNIX format equal to the `pct` of the time range from the `chart.left_visible_bar_time` to the `chart.right_visible_bar_time`. Example: 50 is halfway from the leftmost visible bar to the rightmost.
whenVisible(src, whenCond, length)
Creates an array containing the `length` last `src` values where `whenCond` is true for visible chart bars.
Parameters:
src : (series int/float) The source of the values to be included.
whenCond : (series bool) The condition determining which values are included. Optional. The default is `true`.
length : (simple int) The number of last values to return. Optional. The default is all values.
Returns: (float ) The array ID of the accumulated `src` values.
avg(src)
Gathers values of the source over visible chart bars and averages them.
Parameters:
src : (series int/float) The source of the values to be averaged. Optional. Default is `close`.
Returns: (float) A cumulative average of values for the visible time range.
median(src)
Calculates the median of a source over visible chart bars.
Parameters:
src : (series int/float) The source of the values. Optional. Default is `close`.
Returns: (float) The median of the `src` for the visible time range.
vVwap(src)
Calculates a volume-weighted average for visible chart bars.
Parameters:
src : (series int/float) Source used for the VWAP calculation. Optional. Default is `hlc3`.
Returns: (float) The VWAP for the visible time range.
FVG Breakout Lite by tradingbauhausExplanation of "FVG Breakout Lite by tradingbauhaus"
This script is a trading strategy built for TradingView that helps you spot and trade "Fair Value Gaps" (FVGs)—price areas where the market moved quickly, leaving a gap that might act as support or resistance later. It’s designed to catch breakout opportunities when the price moves strongly in one direction, with extra filters to make trades more reliable. Here’s how it works and how you can use it:
What It Does
1. Finds Fair Value Gaps (FVGs):
A "Bullish FVG" happens when the price jumps up quickly, leaving a gap below where it didn’t trade much (e.g., today’s low is higher than the high from two bars ago).
A "Bearish FVG" is the opposite: the price drops fast, leaving a gap above (e.g., today’s high is lower than the low from two bars ago).
The script draws colored boxes on your chart to show these gaps: green for bullish, red for bearish.
2. Spots Breakouts:
It looks for "strong" FVGs by comparing them to a trend (based on the highest highs and lowest lows over a set period).
If a bullish gap forms above the recent highs, or a bearish gap below the recent lows, it’s marked as a breakout opportunity.
3. Adds a Volume Check:
Trades only happen if the market’s volume is higher than usual (e.g., 1.2x the average volume over the last 20 bars). This helps ensure the breakout has real momentum behind it.
4. Trades Automatically:
Long Trades (Buy): If a bullish breakout FVG forms and volume is high, it buys at the current price.
Short Trades (Sell): If a bearish breakout FVG forms with high volume, it sells short.
Each trade comes with a stop loss (to limit losses) and a take profit (to lock in gains), both adjustable by you.
5. Shows Mitigation Lines (Optional):
If you turn on "Display Mitigation Zones," it draws lines at the edge of each breakout FVG. These lines show where the price might return to "fill" the gap later, helping you see key levels.
6. Includes Webull Costs:
The script factors in real trading fees from Webull, like tiny SEC and FINRA fees for selling, and a daily margin cost if you’re borrowing money to trade. These don’t show up on the chart but affect the strategy’s performance in backtesting.
How to Use It
1. Add to Your Chart:
Copy the script into TradingView’s Pine Editor, click "Add to Chart," and it’ll start drawing FVGs and running the strategy.
2. Customize Settings:
Trend Period (Default: 25): How many bars it looks back to define the trend. Longer periods mean fewer but stronger signals.
Volume Lookback (Default: 20) & Volume Threshold (Default: 1.2): Adjust how it measures "high volume." Increase the threshold for stricter trades.
Stop Loss % (Default: 1.5%) & Take Profit % (Default: 3%): Set how much you’re willing to lose or aim to gain per trade.
Margin Rate % (Default: 8.74%): Webull’s rate for borrowing money—lower it if your account qualifies for a better rate.
Display Mitigation Zones (Default: On): Toggle this to see or hide the gap lines.
Colors: Change the green (bullish) and red (bearish) shades to suit your chart.
3. Backtest It:
Go to the "Strategy Tester" tab in TradingView to see how it performs on past data. It’ll show trades, profits, losses, and Webull fees included.
4. Watch It Work:
Green boxes mean bullish FVGs; red boxes mean bearish FVGs. If volume spikes and the price breaks out, you’ll see trades happen automatically.
What to Expect
Visuals: You’ll see colored boxes for FVGs and optional lines showing where they start. These help you spot key price zones even if you’re not trading.
Trades: It’s selective—only trades when FVGs align with a breakout and volume confirms it. Expect fewer trades but with higher potential.
Risk: The stop loss keeps losses in check, while the take profit aims for a 2:1 reward-to-risk ratio by default (3% gain vs. 1.5% loss).
Costs: Webull’s fees are small but baked into the results, so you’re seeing a realistic picture of profits.
Tips for Users
Test it on a small timeframe (like 5-minute charts) for day trading or a larger one (like daily) for swing trading.
Play with the volume threshold—if you get too few trades, lower it (e.g., 1.1); if too many, raise it (e.g., 1.5).
Watch how price reacts to the mitigation lines—they’re often support or resistance zones traders target.
This strategy is lightweight, focused, and built for traders who like breakouts with a bit of confirmation. It’s not foolproof (no strategy is!), but it gives you a clear way to trade FVGs with some smart filters.
Multi Kernel Regression [ChartPrime]"NAMAZOV ELSAD"
This indicator leverages multiple kernel regression methods to smooth price movements and identify market direction. It is optimized to provide precise "Up" and "Down" signals for potential buy and sell opportunities.
Features:
Kernel Selection: Choose from 17 different kernels, including Triangular, Gaussian, Laplace, and more.
Signal Precision: Accurate "Up" and "Down" signals filtered by a minimum signal threshold for enhanced reliability.
Line Chart Compatibility: Option to hide indicator lines in "line" charts while keeping signals visible via a dedicated parameter.
Customization: Extensive options for bandwidth, deviations, colors, and line styles.
Repaint Flexibility: Switch between repaint and non-repaint modes.
Usage Recommendation:
Ideal for trend-following and pinpointing entry/exit points. For a cleaner view on "line" charts, enable the Hide Lines in Line Chart option. Adjust the Min Signal Threshold to fine-tune signal sensitivity based on your trading strategy.
LineReg Candles with Hma filterOverview
Purpose:
The indicator creates “LinReg Candles” by recalculating OHLC values using linear regression (to smooth out noise) and overlays additional features such as a customizable signal line and an HMA (Hull Moving Average) filter for trend detection. It also plots buy/sell signals and supports alerts.
Customization:
Users can adjust settings for signal smoothing (choosing SMA, EMA, or WMA), HMA periods (preset for Scalping/Intraday or custom values), linear regression length, colors, display options, and alert messages. Inputs are organized into groups for clarity.
Input Definitions
Signal Settings:
signal_length and smoothingType define the period and method used to smooth the close price, creating a signal line.
HMA Filter Settings:
A dropdown (t_type) lets you choose between Scalping, Intraday, or Custom. Based on this, three HMA periods (hma1, hma2, hma3) are set either to fixed values or user-defined custom inputs.
LinReg Settings:
Users can toggle linear regression for OHLC values (lin_reg) and set its period (linreg_length) to reduce price noise.
Color and Display Settings:
These control the colors for buy/sell candles, default bullish/bearish candles, markers, and background highlighting. Display toggles decide whether to show the background, signal line, HMA filter, and the recalculated candles.
Alert and Plot Customization:
Alerts can be enabled with custom messages. Additionally, line width and transparency for the plotted signal and HMA lines are adjustable.
Function Definitions
calcOHLC Function:
Computes OHLC values using linear regression if enabled. Otherwise, it returns the raw price values. This helps in reducing noise.
calcSignalLine Function:
Applies the chosen moving average (SMA, EMA, or WMA) to smooth the recalculated close values and generate a signal line.
getBaseCandleColor Function:
Determines the candle’s base color. It assigns buy/sell colors if specific crossover conditions are met; if not, it defaults to bullish (green) or bearish (red) based on the open/close relationship.
HMA Filter Calculations
HMA Computation:
The script calculates three HMAs (ma1, ma2, ma3) for different periods.
Trend Determination:
It sets a bullish condition (bcn) when ma3 is lower than both ma1 and ma2 with ma1 above ma2. Conversely, a bearish condition (scn) is set when ma3 is higher and the order of the HMAs indicates a downtrend.
Color Coding:
The HMA filter line color changes dynamically (green for bullish, red for bearish) based on these conditions.
Main Calculations
LinReg Candles:
Using the calcOHLC function, the script calculates the new open, high, low, and close values that reduce price noise.
Signal Line:
The signal line is computed on the basis of the smoothed close values using the selected moving average.
Buy/Sell Conditions:
Initial conditions are determined by checking if the recalculated close price crosses over (buy) or under (sell) the signal line.
The base candle color is then adjusted: if the HMA filter confirms the trend (bullish for buy or bearish for sell), the respective buy/sell colors are enforced.
A change in candle color compared to the previous bar triggers a buy or sell signal.
Plotting and Alerts
Visual Elements:
Background: Highlights the chart with a custom color when buy or sell conditions are met.
HMA Filter Line: Plotted (if enabled) with the dynamic color determined earlier.
Candles: The recalculated LinReg candles are drawn with colors based on the combined conditions.
Signal Line: Plotted over the candles with adjustable transparency and width.
Markers: Buy and sell markers are added to visually indicate signal points on the chart.
Alerts:
Alert conditions are set to trigger with predefined messages when a buy or sell signal is generated.
Modularity & Flexibility:
The code is structured with modular functions and clear grouping of inputs, making it highly customizable and user-friendly for open-source TradingView users.
Important how to track the real price on chart:
Locate the Chart Type Menu:
At the top of your TradingView chart, you’ll see a button showing the current chart type (likely a candlestick icon).
Select “Line” from the Dropdown:
Click that button and choose “Line” in the dropdown menu. This changes the main chart to a line chart of the real price.
Screenshots:
Combined Sequences (Tribonacci, Tetranacci, Lucas)🎯 Combined Sequences (Tribonacci, Tetranacci, Lucas) Indicator 🎯
Unlock the power of advanced mathematical sequences in your trading strategy with the **Combined Sequences Indicator**! This tool integrates **Tribonacci**, **Tetranacci**, and **Lucas** levels to help you identify key support and resistance zones with precision. Whether you're a day trader, swing trader, or long-term investor, this indicator provides a unique perspective on price action by combining multiple sequence-based levels.
---
### **Key Features:**
1. **Multiple Sequence Levels**:
- **Tribonacci Levels**: Based on the Tribonacci sequence, these levels are ideal for identifying dynamic support and resistance.
- **Tetranacci Levels**: A more advanced sequence that adds depth to your analysis.
- **Lucas Levels**: Derived from the Lucas sequence, these levels offer additional insights into market structure.
2. **Customizable Levels**:
- Choose the number of levels to display (up to 20).
- Toggle between **positive** and **negative** levels for each sequence.
3. **Flexible Price Source**:
- Select your preferred price type: **Open**, **High**, **Low**, **Close**, **HL2**, **HLC3**, or **HLCC4**.
4. **Customizable Line Styles**:
- Choose from **Solid**, **Dashed**, or **Dotted** lines.
- Adjust line width and extension type (**Left**, **Right**, or **Both**).
5. **Dynamic Labels**:
- Add labels to levels for better readability.
- Customize label position (**Left**, **Center**, or **Right**) and text size (**Normal**, **Small**, or **Tiny**).
6. **Timeframe Flexibility**:
- Works on any timeframe, from **1-minute** charts to **monthly** charts.
---
### **How It Works:**
- The indicator calculates **Tribonacci**, **Tetranacci**, and **Lucas** levels based on the selected price source and timeframe.
- These levels are plotted on the chart, providing clear visual cues for potential support and resistance zones.
- You can toggle each sequence on or off, allowing you to focus on the levels that matter most to your strategy.
---
### **Why Use This Indicator?**
- **Enhanced Market Analysis**: Combine multiple mathematical sequences to gain a deeper understanding of price action.
- **Customizable**: Tailor the indicator to your trading style with flexible settings.
- **User-Friendly**: Easy-to-use interface with clear visual outputs.
- **Versatile**: Suitable for all trading styles and instruments (stocks, forex, crypto, commodities, etc.).
---
### **How to Use:**
1. Add the indicator to your chart.
2. Configure the settings in the **Inputs** tab:
- Choose which sequences to display (Tribonacci, Tetranacci, Lucas).
- Adjust the number of levels, line styles, and label settings.
3. Use the levels to identify potential entry, exit, and stop-loss points.
---
### **Perfect For:**
- Traders looking for advanced support and resistance levels.
- Those who want to incorporate mathematical sequences into their analysis.
- Anyone seeking a customizable and versatile trading tool.
---
**🚀 Take Your Trading to the Next Level with Combined Sequences! 🚀**
---
### **Disclaimer**:
This indicator is a tool to assist in your trading decisions. It does not guarantee profits or predict market movements. Always use proper risk management and combine this tool with other analysis techniques.
---
**📈 Ready to Elevate Your Trading? Add the Combined Sequences Indicator to Your Chart Today! 📉**
FVG Radar [Mr_Rakun]The FVG Radar indicator is designed to automatically detect Fair Value Gaps (FVG) on your TradingView chart. It visually highlights bullish and bearish gaps with colored boxes and provides alerts when specific conditions are met.
How It Works
Fair Value Gap (FVG) Detection:
The script identifies gaps based on previous price action. A bullish FVG is recognized when there is a gap below a higher low candle, and a bearish FVG when there is a gap above a lower high candle.
Radar Area:
A yellow “Radar Area” box is drawn on the chart using upper and lower bands defined as a percentage above and below the current price. This area helps you visualize where the price is relative to these bands.
Alerts:
Alerts are triggered based on user-defined conditions:
When price crosses half of the gap (if the "Clear FVG When Price Reaches Half" option is enabled).
When price fully fills the gap (if the option is disabled).
The alert will only be activated after waiting a specified number of bars post-gap formation (as set by the "Wait X Bars After FVG Formation" parameter).
Input Parameters
Radar Upper Band (%):
Sets the upper threshold percentage relative to the current price for the radar area.
Radar Lower Band (%):
Sets the lower threshold percentage relative to the current price for the radar area.
Minimum FVG Size (%):
Determines the minimum size (as a percentage) for a gap to be recognized as a valid FVG.
Clear FVG When Price Reaches Half:
If enabled, the FVG will be cleared when the price reaches the midpoint of the gap. If disabled, the entire gap must be filled before it is cleared.
Wait X Bars After FVG Formation:
Specifies the number of bars to wait after an FVG is detected before triggering an alert. This delay helps to avoid premature alerts.
Bullish and Bearish FVG Colors and Opacity:
Customize the appearance of the FVG boxes for bullish (green) and bearish (red) gaps, including the opacity of these visual elements.
How to Use
Add the Indicator:
Load the FVG Radar indicator on your TradingView chart.
Customize Settings:
Adjust the input parameters based on your trading style and the market’s volatility. The radar area settings help you set your own visual reference for price deviations.
Monitor the Chart:
Watch for the colored boxes that represent FVGs. The boxes will display the size of the gap as a percentage.
Respond to Alerts:
When an alert is triggered after the specified number of bars, it indicates that the price has interacted with the gap. Use this information to guide your trading decisions.
Türkçe --------------------------------------------
FVG Radar göstergesi, TradingView grafiğinizde Fair Value Gap (FVG) – yani adil değer boşluklarını – otomatik olarak tespit etmek için tasarlanmıştır. Bu boşluklar, yükseliş ve düşüş boşluklarını farklı renkli kutularla vurgular ve belirli koşullar sağlandığında uyarılar verir.
Nasıl Çalışır
Fair Value Gap (FVG) Tespiti:
Gösterge, önceki fiyat hareketlerine dayalı olarak boşlukları belirler. Yükseliş boşluğu, düşük seviyenin yukarıdaki mumun altındaki boşlukla oluştuğu durumlarda; düşüş boşluğu ise, yüksek seviyenin aşağıdaki mumun üstünde boşluk oluştuğunda tespit edilir.
Radar Alanı:
Grafikte, mevcut fiyata göre belirlenen üst ve alt yüzde bantlarına dayalı olarak sarı renkte “Radar Alanı” kutusu çizilir. Bu alan, fiyatın bu bantlara göre nerede olduğunu görsel olarak anlamanıza yardımcı olur.
Uyarılar:
Kullanıcının belirlediği koşullara göre uyarılar verilir:
Fiyat, boşluğun yarısına ulaştığında (eğer "FVG'nin yarısına ulaştığında temizle" seçeneği etkinse).
Fiyat boşluğu tamamen doldurduğunda (seçenek devre dışı bırakıldığında).
Uyarı, boşluk oluşumundan sonra belirlenen bar sayısı kadar bekledikten sonra tetiklenir ("FVG Oluşumundan Sonra X Bar Bekle" parametresi).
Giriş Parametreleri
Radar Upper Band (%):
Mevcut fiyata göre radar alanı için üst eşik yüzdesini ayarlar.
Radar Lower Band (%):
Mevcut fiyata göre radar alanı için alt eşik yüzdesini ayarlar.
Minimum FVG Size (%):
Bir boşluğun geçerli bir FVG olarak tanınabilmesi için gereken minimum boyutu (yüzde olarak) belirler.
FVG'nin yarısına ulaştığında temizle:
Etkinse, fiyat boşluğun orta noktasına ulaştığında boşluk temizlenir. Devre dışı bırakılırsa, boşluğun tamamen doldurulması gerekir.
FVG Oluşumundan Sonra X Bar Bekle:
Bir FVG tespit edildikten sonra uyarı tetiklenmeden önce beklenmesi gereken bar sayısını belirler. Bu gecikme, erken uyarıların önüne geçmeyi amaçlar.
Yükseliş ve Düşüş FVG Renkleri ve Opaklık:
Yükseliş boşlukları (yeşil) ve düşüş boşlukları (kırmızı) için kutuların görünümünü ve opaklığını özelleştirmenize olanak tanır.
Nasıl Kullanılır
Göstergeyi Ekleyin:
FVG Radar göstergesini TradingView grafiğinize ekleyin.
Ayarları Özelleştirin:
Ticaret tarzınıza ve piyasanın oynaklığına göre giriş parametrelerini ayarlayın. Radar alanı ayarları, fiyat sapmalarını kendi görsel referansınızla tanımlamanıza yardımcı olur.
Grafiği İzleyin:
FVG’leri temsil eden renkli kutuları takip edin. Kutular, boşluğun yüzdelik büyüklüğünü gösterecektir.
Uyarılara Tepki Verin:
Belirlenen bar sayısı sonrasında tetiklenen uyarı, fiyatın boşluk ile etkileşime girdiğini gösterir. Bu bilgiyi, ticaret kararlarınızı yönlendirmek için kullanın.
Candlestick Pattern Detector - Vijay PrasadOverview:
This Pine Script v6 indicator is designed to detect and label key candlestick patterns on TradingView charts. It provides real-time visual markers for major bullish and bearish reversal signals, aiding traders in decision-making.
Usefulness:
✅ Saves time by automating candlestick pattern detection.
✅ Reduces manual chart analysis errors.
✅ Works across all markets & timeframes.
✅ Enhances trading strategies with accurate signals.
Candlestick Patterns Recognises:
Bullish Engulfing – A strong bullish reversal pattern.
Bearish Engulfing – Indicates a potential downtrend.
Hammer – Suggests a market bottom or reversal.
Shooting Star – A bearish reversal signal at the top of an uptrend.
Doji – Signals market indecision and possible trend change.
Key Functions:
Automated Pattern Visible
Identifies candlestick patterns dynamically and plots them on the chart.
Visual Labels for Patterns
Labels to indicate specific candlestick formations.
Labels appear only when a valid pattern is detected, avoiding unnecessary clutter.
Buy/Sell Signal
Plots buy signals at bullish patterns and sell signals at bearish patterns.
Helps traders recognize trend reversals and entry/exit points.
Bullish Engulfing Pattern (Green Label)
What it means: A bullish engulfing pattern typically signals a potential reversal from a downtrend to an uptrend. The current candle fully engulfs the previous candle, signaling strong buying interest.
Identifying Candlestick Patterns on the Chart
How to use it:
Entry: Look for a green label (bullish engulfing) at the bottom of the chart. When it appears, consider entering a long position (buy).
Confirmation: To increase reliability, wait for confirmation by observing if price moves above the high of the bullish engulfing candle.
Exit: Exit when the trend shows signs of reversing or take profit at predefined levels (e.g., resistance or a risk-to-reward ratio).
Bearish Engulfing Pattern (Red Label)
What it means: A bearish engulfing pattern is a signal of a potential reversal from an uptrend to a downtrend. The current candle fully engulfs the previous candle, signaling strong selling pressure.
How to use it:
Entry: Look for a red label (bearish engulfing) at the top of the chart. When it appears, consider entering a short position (sell).
Confirmation: Wait for the price to move below the low of the bearish engulfing candle to confirm the bearish trend.
Exit: Close the trade when the price reaches support levels or the trend shows signs of reversing.
Doji Pattern (Blue Circle)
What it means: A Doji candle signals market indecision. It represents a balance between buyers and sellers, often marking a potential reversal or consolidation point.
How to use it:
Entry: If the Doji appears after a strong trend (bullish or bearish), wait for the next candle to break above or below the Doji's high or low. This can signal a continuation or reversal.
Confirmation: You can look for additional indicators like moving averages, RSI, or MACD for confirmation before taking any action.
Exit: Exit when the price shows clear momentum in your entry direction.
Hammer Pattern (Orange Triangle)
What it means: The hammer pattern is a bullish reversal pattern that appears after a downtrend. It suggests that sellers pushed the price down during the session, but buyers managed to push the price back up.
How to use it:
Entry: When a hammer appears, consider entering a long position (buy). The price should move above the hammer's high for confirmation.
Confirmation: Look for strong volume and a follow-up bullish candle to confirm the reversal.
Exit: Set a target based on the next resistance level, or use a trailing stop to lock in profits.
Using Candlestick Patterns with Other Indicators
To increase your chances of success, combine candlestick patterns with other technical indicators.
Here are some ideas:
RSI (Relative Strength Index): Use RSI to check whether the market is overbought or oversold. A bullish engulfing in an oversold market could indicate a stronger buy signal, and a bearish engulfing in an overbought market could indicate a stronger sell signal.
Moving Averages (e.g., 50 EMA, 200 EMA): Confirm trend direction. If the candlestick pattern aligns with the direction of the moving averages, it can give a stronger signal.
MACD (Moving Average Convergence Divergence): Use MACD to confirm momentum and potential trend changes. If a candlestick pattern aligns with a MACD crossover, it strengthens the signal.
Volume: Look for higher-than-average volume when a pattern appears. This can give you additional confirmation that the market is reacting strongly.
Practice and Refine
It's important to practice using the candlestick patterns in a demo account or backtest them to see how they perform under different market conditions. Over time, you can adjust the settings and patterns to fit your trading style and preferences.
Daily Time TheoryDaily Time Theory Indicator
The Daily Time Theory indicator is a versatile tool designed exclusively for daily charts. It dynamically colors daily candles according to the day of the week using customizable colors, making it easy to visually distinguish between Monday through Friday. In addition, it provides the option to display horizontal lines for key price levels (Open, High, Low, and Close) for each day. These lines extend into the future for a user-defined number of weeks, giving traders a clear view of historical support and resistance levels.
Key Features:
Day-Based Candle Coloring:
Each weekday’s candles are automatically colored based on user-defined color settings (e.g. blue for Monday, green for Tuesday, etc.), enhancing chart clarity and enabling quick visual analysis of daily patterns.
Customizable Price Level Lines:
Traders can toggle on or off the display of the Open, High, Low, and Close price levels for each day. This allows you to focus on the specific data points that are most relevant to your trading strategy.
Extended Projections:
The indicator lets you extend the drawn price level lines for multiple weeks. This feature provides insight into historical price levels and helps identify potential support and resistance areas.
Tiny Labels for Clarity:
Each line drawn comes with a small, unobtrusive label at its far right that clearly indicates whether the line represents the Open, High, Low, or Close. This ensures that you always know which price level is being highlighted without cluttering the chart.
User-Friendly Input Grouping:
The inputs are neatly organized into groups by day, making it simple to adjust colors and toggle settings for each weekday independently.
How It Works:
The indicator automatically detects the current day on a daily chart and assigns a corresponding color to the candles.
It stores each day’s Open, High, Low, and Close values using persistent variables so that historical price levels remain visible.
When toggled on, horizontal lines representing the selected price levels are drawn across the chart. A tiny label is attached to the end of each line, indicating the type of price level.
The extended lines allow you to see how historical daily price levels may act as support or resistance in the future.
Usage Recommendations:
This indicator is best used on daily timeframes for markets with regular trading sessions. It is ideal for traders who wish to analyze intra-week price behavior, identify recurring support and resistance levels, and incorporate daily price structure into their trading strategy.
Sadosi Gap SelecterThis indicator is designed to be used on daily charts. Please note that it will not work with weekly or hourly data.
The Sadosi Gap Selecter is a powerful indicator designed to identify price gaps that occur between specific dates on the chart. It allows users to easily analyze price movements between selected weeks and days, highlighting these periods with visual boxes. This helps traders spot potential trend reversals and key price levels more effectively. It’s particularly valuable for those utilizing gap trading strategies to identify market inefficiencies.
The core functionality of this indicator is based on detecting price differences between two selected days within a defined date range. With the Start Day (day1) and End Day (day2) options, you can choose the exact days of the week you’d like to analyze. For instance, if you want to focus on price movements from Friday to Monday, simply select those days. Additionally, the Start Week (week1) and End Week (week2) settings allow you to narrow down the time frame on a weekly basis, making it easy to analyze price behavior during specific periods of the year.
For visual customization, several options are available. The Color (renk) setting lets you choose between red and yellow for the highlighted boxes. The Transparency (op) control adjusts the background opacity from 0% (fully opaque) to 100% (completely transparent), allowing you to manage how prominently the boxes appear on your chart. Furthermore, the Border (hat) option enables you to add or remove borders around the boxes, helping reduce visual clutter or emphasize certain areas depending on your preference.
Once applied to the chart, the indicator automatically generates boxes for the specified date ranges. The upper and lower bounds of each box are determined based on the price movement within that period, providing insights into the direction and strength of the trend. However, this tool does not generate definitive buy or sell signals on its own. It is recommended to use it alongside other technical analysis tools to make more informed trading decisions.
With the Sadosi Gap Selecter, you can gain clearer insights into price behavior, strengthen your trend analyses using historical data, and fully customize the settings to match your trading style for more effective results.
This indicator is designed to be used on daily charts. Please note that it will not work with weekly or hourly data
Volume-Based RSI Color Indicator with MAsVolume-Based RSI Color Indicator with MAs
Overview
This script combines the Relative Strength Index (RSI) with volume analysis to provide an enhanced perspective on market conditions. By dynamically coloring the RSI line based on overbought/oversold conditions and volume thresholds, this indicator helps traders quickly identify high-probability reversal zones. Additionally, it incorporates short-term and long-term moving averages (MAs) of the RSI for trend analysis, making it a versatile tool for scalping and swing trading strategies.
Key Features
Dynamic RSI Color Coding:
The RSI line changes color based on two conditions:
Overbought/High Volume: RSI is above the overbought threshold (default: 70) and volume exceeds the average volume by a user-defined multiplier (default: 2.0). The line turns red, indicating potential reversal zones.
Oversold/High Volume: RSI is below the oversold threshold (default: 30) and volume exceeds the average volume by the multiplier. The line turns green, suggesting potential buying opportunities.
Neutral Conditions: Default blue color for all other scenarios.
Volume Integration:
Unlike standard RSI indicators, this script incorporates volume data to refine signals, helping traders avoid false signals in low-volume environments.
RSI Moving Averages:
Two moving averages of the RSI (short-term and long-term) provide trend context:
200-period MA: Highlights the long-term trend in RSI values.
20-period MA: Shows short-term fluctuations for quick decision-making.
Both MAs can be calculated using Simple or Exponential methods, giving users flexibility.
Visual Aids:
Horizontal lines at the overbought (70) and oversold (30) levels help define the boundaries of expected price action extremes.
How It Works
The script calculates the RSI over a user-defined length (default: 14).
Volume data is compared to its moving average to determine if it exceeds the user-defined high-volume threshold.
When RSI and volume conditions align, the RSI line is dynamically colored to indicate potential overbought/oversold zones.
The RSI moving averages provide additional context to confirm trends or reversals.
How to Use
Identify Reversal Zones:
Look for green RSI signals in oversold conditions to identify potential buying opportunities.
Look for red RSI signals in overbought conditions to identify potential selling opportunities.
Use Moving Averages for Confirmation:
When the RSI is above its 200-period MA, the long-term trend is bullish; consider only long trades.
When the RSI is below its 200-period MA, the trend is bearish; consider only short trades.
Combine with Other Tools:
This indicator works best when used alongside price action analysis, candlestick patterns, or support/resistance levels.
Originality
This script is unique in combining volume analysis with RSI and RSI-specific moving averages. While many indicators focus on RSI or volume separately, this script marries these two key metrics to filter out weak signals and improve trade decision accuracy.
Chart Recommendations
Clean Chart: Use this indicator on a clean chart without additional overlays for maximum clarity.
Timeframes: Works well on intraday charts (e.g., 5m, 15m) for scalping and on higher timeframes (e.g., 1H, 4H, Daily) for swing trading.
Disclaimer
This indicator is a tool to aid trading decisions and should not be used in isolation. Always consider other factors such as market conditions, news events, and risk management.
SufinBDThis TradingView script combines RSI, Stochastic RSI, MACD, and Bollinger Bands to generate Buy and Sell signals on two different timeframes: 4-hour (4H) and Daily (1D). The strategy aims to provide entry and exit points based on a multi-indicator confirmation approach, helping traders make more informed decisions.
Features:
RSI (Relative Strength Index):
Measures the speed and change of price movements.
The script looks for oversold conditions (RSI below 30) for buy signals and overbought conditions (RSI above 70) for sell signals.
Stochastic RSI:
Measures the level of RSI relative to its high-low range over a given period.
A Stochastic RSI below 0.2 indicates oversold conditions, and a value above 0.8 indicates overbought conditions.
It helps identify overbought and oversold conditions in a more precise manner than regular RSI.
MACD (Moving Average Convergence Divergence):
A trend-following momentum indicator that shows the relationship between two moving averages of a security's price.
The MACD line crossing above the Signal line generates bullish signals, and vice versa for bearish signals.
Bollinger Bands:
A volatility indicator that consists of a middle band (SMA of price), an upper band, and a lower band.
When the price is below the lower band, it signals potential buy opportunities, while prices above the upper band signal potential sell opportunities.
Timeframe Usage:
The script calculates indicators for both the 4-hour (4H) and Daily (1D) timeframes.
The combined signals from these two timeframes are used to generate Buy and Sell alerts.
Buy Signal:
A Buy signal is generated when all of the following conditions are met:
RSI on both 4H and 1D is below 30 (oversold conditions).
Stochastic RSI on both timeframes is below 0.2.
The MACD line is above the Signal line on both timeframes.
The price is below the lower Bollinger Band on both the 4H and 1D charts.
Sell Signal:
A Sell signal is generated when all of the following conditions are met:
RSI on both 4H and 1D is above 70 (overbought conditions).
Stochastic RSI on both timeframes is above 0.8.
The MACD line is below the Signal line on both timeframes.
The price is above the upper Bollinger Band on both the 4H and 1D charts.
Visuals:
Buy signals are marked with green labels below the bars.
Sell signals are marked with red labels above the bars.
Bollinger Bands are displayed on the chart with the upper and lower bands marked in blue (for 4H) and orange (for 1D).
Purpose:
This script aims to provide more reliable buy/sell signals by combining indicators across multiple timeframes. It is ideal for traders who want to use multiple confirmation points before entering or exiting a trade.
How to Use:
Apply the script to any chart on TradingView.
Look for Buy and Sell signals that meet the conditions above.
You can adjust the timeframe (e.g., 4H or 1D) based on your trading strategy.
This script can be used for intraday trading, swing trading, or position trading depending on your preferred timeframes.
Example of Signal Interpretation:
Buy Signal:
If all conditions are met (e.g., RSI is under 30, Stochastic RSI is under 0.2, MACD is bullish, and price is below the lower Bollinger Band on both the 4-hour and daily charts), the script will show a green "BUY" label below the price bar.
Sell Signal:
If all conditions are met (e.g., RSI is over 70, Stochastic RSI is over 0.8, MACD is bearish, and price is above the upper Bollinger Band on both timeframes), the script will show a red "SELL" label above the price bar.
This combination of indicators offers a multi-layered confirmation approach, which aims to reduce the risk of false signals and increase the reliability of your trading decisions.
Bitcoin All-Time High (ATH) Alert with Cooldown₿ Bitcoin All-Time High (ATH) Alert with Cooldown 🚀👩🚀
🔍 What it does:
This indicator tracks new all-time highs (ATHs) and alerts you when Bitcoin (or any asset) reaches a fresh ATH, while avoiding alert spam with a customizable cooldown period.
✨ Key Features
✅ Alerts for New ATHs: Never miss when Bitcoin makes history!
✅ Cooldown Period: Prevents multiple alerts within a short timeframe (customizable in settings).
✅ ATH Line on Chart: A clear, visual line marking the all-time high price.
✅ Manual Reset Option: Reset the ATH for testing or specific chart conditions.
⚙️ How to Use
Add the Indicator: Apply it to your chart like any other indicator. Ideally on a small time frame, the cooldown is 20 bars by default (adjustable) which gives 20 minutes on the 1 min chart.
Customize Settings:
- Cooldown Period (bars): Set the number of bars to wait before triggering another alert (e.g., 20 bars).
- Show All-Time High Line: Toggle to display or hide the ATH line visually.
- Reset All-Time High: Use this to manually reset the ATH to the current bar's high.
Create an Alert:
Open the "Alerts" menu.
Select the condition: "New All-Time High" .
Choose a trigger type:
Once Per Bar: For immediate alerts when a new ATH occurs.
Once Per Bar Close: To confirm the ATH at the end of each bar.
🛠️ Who is it for?
Traders and HODLers who want to stay on top of price action.
Anyone looking for clean and efficient ATH tracking with no redundant alerts
🚀 Never miss a new ATH again. Stay ahead of the market!
Weekly Covered Calls Strategy with IV & Delta LogicWhat Does the Indicator Do?
this is interactive you must use it with your options chain to input data based on the contract you want to trade.
Visualize three strike price levels for covered calls based on:
Aggressive (closest to price, riskier).
Moderate (mid-range, balanced).
Low Delta (farthest, safer).
Incorporate Implied Volatility (IV) from the options chain to make strike predictions more realistic and aligned with market sentiment. Adjust the risk tolerance by modifying Delta inputs and IV values. Risk is defined for example .30 delta means 30% chance of your shares being assigned. If you want to generate steady income with your shares you might want to lower the risk of them being assigned to .05 or 5% etc.
How to Use the Indicator with the Options Chain
Start with the Options Chain:
Look for the following data points from your options chain:
Implied Volatility (IV Mid): Average IV for a particular strike price.
Delta:
~0.30 Delta: Closest strike (Aggressive).
~0.15–0.20 Delta: Mid-range strike (Moderate).
~0.05–0.10 Delta: Far OTM, safer (Low Delta).
Strike Price: Identify strike prices for the desired Deltas.
Open Interest: Check liquidity; higher OI ensures tighter spreads.
Input IV into the Indicator:
Enter the IV Mid value (e.g., 0.70 for 70%) from the options chain into the Implied Volatility field of the indicator.
Adjust Delta Inputs Based on Risk Tolerance:
Aggressive Delta: Increase if you want strikes closer to the current price (riskier, higher premium).
Default: 0.2 (20% chance of shares being assigned).
Moderate Delta: Balanced risk/reward.
Default: 0.12 (12%)
Low Delta: Decrease for safer, farther OTM strikes.
Default: 0.05 (5%)
Visualize the Chart:
Once inputs are updated:
Red Line: Aggressive Strike (closest, riskiest, higher premium).
Blue Line: Moderate Strike (mid-range).
Green Line: Low Delta Strike (farthest, safer).
Step-by-Step Workflow Example
Open the options chain and note:
Implied Volatility (IV Mid): Example 71.5% → input as 0.715.
Delta for desired strikes:
Aggressive: 0.30 Delta → Closest strike ~ $455.
Moderate: 0.15 Delta → Mid-range strike ~ $470.
Low Delta: 0.05 Delta → Farther strike ~ $505.
Open the indicator and adjust:
IV Mid: Enter 0.715.
Aggressive Delta: Leave at 0.12 (or adjust to bring strikes closer).
Moderate Delta: Leave at 0.18.
Low Delta: Adjust to 0.25 for safer, farther strikes.
View the chart:
Compare the indicator's strikes (red, blue, green) with actual options chain strikes.
Use the visualization to: Validate the risk/reward for each strike.
Align strikes with technical trends, support/resistance.
Adjusting Inputs Based on Risk Tolerance
Higher Risk: Increase Aggressive Delta (e.g., 0.15) for closer strikes.
Use higher IV values for volatile stocks.
Moderate Risk: Use default values (0.12–0.18 Delta).
Balance premiums and probability.
Lower Risk: Increase Low Delta (e.g., 0.30) for farther, safer strikes.
Focus on higher IV stocks with good open interest.
Key Benefits
Simplifies Strike Selection: Visualizes the three risk levels directly on the chart.
Aligns with Market Sentiment: Incorporates IV for realistic forecasts.
Customizable for Risk: Adjust inputs to match personal risk tolerance.
By combining the options chain (IV, Delta, and liquidity) with the technical chart, you get a powerful, visually intuitive tool for covered call strategies.
Support/Resistance Strength [UAlgo]The Support/Resistance Strength indicator is a tool designed for traders seeking a precise understanding of key support and resistance levels in the market. This tool dynamically identifies and visualizes support and resistance zones based on pivot points and strength criteria, providing traders with actionable insights for better decision-making.
By incorporating features such as ATR-based or percentage-based channel calculations, customizable strength thresholds, and intuitive visualization of key levels, the indicator caters to traders of various skill levels and strategies. It also adapts dynamically to market conditions, allowing users to identify frequently tested zones with minimal manual input.
🔶 Key Features
Dynamic Support and Resistance Zones
Automatically detects significant support and resistance levels using pivot high and low calculations.
Offers ATR-based or percentage-based channel customization to cater to diverse trading styles.
Customizable Parameters
Lookback period for pivot calculations, strength threshold, and maximum stored pivots are fully adjustable.
Display options for showing specific numbers of recent support/resistance lines.
Intuitive Visualization
Highlights key support and resistance levels with color-coded lines and labels.
Includes percentage deviation from the current price for quick assessment.
Interactive Updates
Continuously updates support and resistance levels to reflect changing market dynamics.
Displays pivot points visually for enhanced clarity.
Can be used effectively on various timeframes, from intraday to daily and weekly charts.
🔶 Interpreting the Indicator
Identifying Key Levels
Support levels are indicated by green (lime) lines and resistance levels by red lines. The transparency of colors is adjustable for visual preference.
Labels display the exact price level and the percentage difference from the current price.
Strength Threshold
The "Minimum S/R Strength" parameter defines how frequently a level must be tested to be considered significant.
Higher strength values indicate zones that have been tested more frequently, suggesting stronger support or resistance.
Pivot Points
The indicator marks pivot high and low points on the chart to provide a visual representation of the calculated levels.
Dynamic Updates
The indicator adapts to the most recent price action. If the price moves above a resistance level or below a support level, the color of the lines and labels will dynamically change to reflect the current price positioning.
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
