FU Candle Indicator V3.2What the FU Candle Indicator does:
First we need to understand what FU candles are. There's bullish and bearish FU candles.
Bullish FU candles are candles that have a long wick that takes out the previous candles low, then turns around and closes above the high of the previous candle.
Bearish FU candles are candles that have a long wick that takes out the previous candles high, then turns around and closes below the low of the previous candle.
Then there's so called attempted FU candles (ATT FU)
The difference between normal FU candles and ATT FU candles is, that the ATT FU candle doesn't close above/below the high/low of the previous candle but only above the previous candle's body close.
Bullish ATT FU Candle:
Bearish ATT FU Candle:
Detection of Bullish FU Candles:
Bullish FU Candles are detected by measuring the distance between the low of the previous candle and the low of the current candle.
Then the distance between the previous candles high and the current candles close price are measured.
If current candle low < previous candle low and current candle close > previous candle high = Bullish FU Candle.
Detection of Bullish ATT FU Candles:
Bullish ATT FU Candles are detected by measuring the distance between the low of the previous candle and the low of the current candle.
Then the distance between the previous candles close or open price and the current candles close price are measured. If the previous candle closed bearish, the open price is used for comparison, if the previous candle closed bullish, the close price is used for comparison.
If current candle low < previous candle low and current candle close > previous candle open or close = Bullish ATT FU Candle.
Detection of Bearish FU Candles:
Bearish FU Candles are detected by measuring the distance between the high of the previous candle and the high of the current candle.
Then the distance between the previous candles low, AND the current candles close price are measured.
If current candle high > previous candle high, AND current candle close < previous candle low = Bearish FU Candle.
Detection of Bearish ATT FU Candles:
Bearish ATT FU Candles are detected by measuring the distance between the high of the previous candle and the high of the current candle.
Then the distance between the previous candles close or open price and the current candles close price are measured. If the previous candle closed bearish, the open price is used for comparison, if the previous candle closed bullish, the close price is used for comparison.
If current candle high > previous candle high and current candle close < previous candle open or close = Bearish ATT FU Candle.
What makes this script unique?
It shows and liquidity grab and a break of structure on a lower timeframe in one candle.
It allows to adjust the settings for the asset and timeframe you're using
The built in filters (Fractal Filter and EMA Filter) are both optional but allow to filter out certain candles and most importantly it leaves room for experimentation and optimisation to your trading style.
Input Settings and how to use them:
Bullish FU Candle Color --> This setting is to set the color for bullish FU candles.
Bearish FU Candle Color --> This setting is to set the color for bearish FU candles.
Chart --> This setting enables you to display FU's on different timeframes instead of only the current time. It's set to current timeframe by default.
Liq. Grab in Points --> This is the strength of the liquidity grab. By how many points has the current candle taken out the low/ high of the previous candle. It's set to 20 by default but it has to be adjusted to the timeframe and asset you're using.
Engulfing in Points --> This the strength of the engulfing of the previous candle. It measures the distance of the current close price to the open, close, high or low of the previous candle. It depends if the current candle is bullish or bearish and if the previous candle was bullish or bearish and if ATT FUs are enabled but this setting applies to all methods. It's set to 20 by default but you have to adjust it to the asset and timeframe you're using.
Min. Size in Points --> This setting is to filter out tiny candles. It measures the overall size of the FU candle from low to high. It's set to 20 by default but you have to adjust it to the asset and timeframe you are using.
Min. Body Size in Points --> This setting is to filter out FU candles that have a tiny body. It measures the size of the body from open to close. It's set to 20 by default but you have to adjust it to the asset and timeframe you are using.
Max. Body Size in Points --> This setting is to filter out FU candles that have a huge body. It measures the size of the body from open to close. It's set to 10000 by default but you have to adjust it to the asset and timeframe you are using.
Show ATT FU Candles --> ATT FU Candles are FU's where the body only engulfs the previous candles body but not the wick. This type of FU candles is just as valid as the strong FU's where the Body and the wick of the previous Candle is engulfed. The setting is enabled by default.
Rejection Filter --> This setting is used filter out FU candles where the opposite side rejection is stronger than the body direction of the FU. This filters out a lot of traps. It's disabled by default.
Fractal Filter --> FU's are only valid if they broke a fractal of the past x candles. This filters out some of the FU candles that are inside a range and therefore invalid. This is an optional filter and disabled by default.
EMA Filter --> FU's are only if they are above/ below the EMA. This is to filter out most of the FU candles that are inside ranges. The EMA period can be set too. This is an optional filter and enabled and EMA length set to 7 by default. You can enable it and/ or change the length of the EMA to fit your trading style.
Show Entry Lines --> The entry line setting has been changed in terms of styling. The upper and lower line has been removed. Now only the 50% retracement line of the candle body is displayed and the line type, color, strength and length can be set to keep charts as clean as possible.
Alert Timeframes --> You can select the timeframes for which you want to receive an alert if you set and alert for the FU Candle indicator. If you set an alert for the FU Candle Indicator it will send an alert for every FU candle on every selected timeframe.
TF1-TF8 --> This setting is to enable or disable alerts for timeframe 1 - timeframe 8. By default all alerts are disabled, I recommend only enabling the ones that you actually use.
Recommended use:
A bullish FU candle doesn't necessarily mean it's a long and vice versa a bearish FU candle doesn't necessarily mean it's a short. In fact, most FU candles are traps. Often times you'll see a bullish FU candle starting a bearish reversal.
Whenever you see an FU Candle check the following:
Did the FU candle take relevant liquidity?
Is the FU Candle in line with the overall bias or does it go against the bias?
Where did the FU react? Example: A bearish FU candle that reacts in a bullish FVG is a perfect long entry and vice versa.
A bullish FU candle that takes out a relevant swing high can often be a fake-out and price can immediately reverse as the next candle opens.
Timing is also very important. Usually the valid FU candles happen after a strong move to one direction during high volume times and right before or right after a new candle opens on a higher timeframe.
Examples of valid setups:
Nr. 1) Mitigation Setup
Overall bullish on the higher time frame, liquidity grab to the downside, shift in momentum, strong move to the upside left a FVG. later price comes back into the FVG and forms a FU candle --> perfect long trade targeting the opposite side of the range.
Entry either at close of the FU or at the 50% retracement.
Nr. 2) Trap Setup
Clear bullish trend respecting the trend line, bearish FU candle forms but it didn't take any relevant liquidity to the upside. Only internal range liquidity. Perfect long entry using a buy limit below the lower wick of the FU candle with the SL below the nearest low.
Nr. 3) Liquidity Grab Setup
Bearish trend, price comes up aggressively and takes out a high and forms an FU Candle. Market entry short at close of the FU candle or at the 50% retracement of the FU candle or by putting a limit order right above the wick of the candle that follows the FU candle, targeting the opposite side of the range.
Nr. 4) Fake Breakout Setup
Price takes out a significant HTF low, then makes at least 2 BOS on the LTF and forms an Order Block or leaves an FVG. Price forms a bearish U that fails to close below the FVG or Orderblock.
Market entry long at the close of the bearish FU targeting the opposite side of the range. Vice versa for shorts. In simple terms: Bullish FUs at the top of the range and bearish FUs at the bottom of the range are usually always traps.
Sometimes price takes out the high/low of a trap FU before reversing aggressively so you can also have a limit order below the low of the bearish FU or above the high of a bullish FU in this case. But you risk missing the trade.
Entry Methods:
Entry Type 1) Market Entry at the close of the FU candle. --> Never miss a trade, not the best RRR.
Entry Type 2 Limit Entry at the 50% retracement of the body of the FU candle. --> Miss some of the trades but better RRR.
Entry Type 3 Limit order below the wick of the candle that follows the FU candle. --> Miss quite a lot of trades but by far best RRR.
Why this is a closed source script:
The source code of this script is not open because I have spent several years of my life developing it and I use it in all my trading bots.
Also I'm open for feedback and will modify/ update the script for free if I get input that can make it better.
For questions, please reach out via DM or check out my youtube channel. I have several videos explaining in detail how I use these candles, which are valid and which aren't.
Entrysignal
Bewakoof stock indicator**Title**: "Bewakoof Stock Indicator: Multi-Timeframe RSI and SuperTrend Entry-Exit System"
---
### Description
The **Bewakoof Stock Indicator** is an original trading tool that combines multi-timeframe RSI analysis with the SuperTrend indicator to create reliable entry and exit signals for trending markets. This indicator is designed for traders looking to follow strong trends with built-in risk management. By filtering entries through short- and long-term momentum and utilizing dynamic trailing exits, this indicator provides a structured approach to trading.
#### Indicator Components
1. **Multi-Timeframe RSI Analysis**:
- The Relative Strength Index (RSI) is calculated across three timeframes: Daily, Weekly, and Monthly.
- By examining multiple timeframes, the indicator confirms that trends align over short, medium, and long-term intervals, making buy signals more reliable.
- **Buy Condition**: All three RSI values must meet these thresholds:
- **Daily RSI > 50** – indicates short-term upward momentum,
- **Weekly RSI > 60** – signals medium-term strength,
- **Monthly RSI > 60** – confirms long-term trend alignment.
- This filtering process ensures that buy signals are generated only in stable, upward-trending markets.
2. **SuperTrend Confirmation**:
- The SuperTrend (20-period ATR with a multiplier of 2) acts as a trend filter and trailing stop mechanism.
- For a buy condition to be valid, the closing price must be above the SuperTrend level, verifying that the market is trending up.
- The combination of RSI and SuperTrend helps to avoid false signals, focusing only on well-established trends.
#### Trade Signals
- **Buy Signal**: When both the multi-timeframe RSI and SuperTrend conditions are met, a buy signal is triggered, indicated by a “BUY” label on the chart with details:
- **Entry Price**,
- **Initial Stop-Loss** (set at the SuperTrend level for risk control),
- **Target 1** – calculated with a 1:1 risk-reward ratio based on the initial stop-loss,
- **Target 2** – calculated with a 1:2 risk-reward ratio based on the initial stop-loss.
- **Exit Signals**: This indicator provides two exit strategies to protect profits:
1. **Fixed Stop-Loss**: Automatically set at the SuperTrend level at the time of entry to limit risk.
2. **Trailing Exit**: Exits are triggered if the price crosses below the SuperTrend level, adapting to potential trend reversals.
#### Labeling & Alerts
The **Bewakoof Stock Indicator** offers intuitive labeling and alert options:
- **Labels**: Buy and exit points are clearly marked, showing entry, stop-loss, and targets directly on the chart.
- **Alerts**: Custom alerts can be set for:
- **Buy signals** when both conditions are met, and
- **Exit signals** triggered by the stop-loss or trailing exit.
#### Use Case and Benefits
This indicator is ideal for trend-following traders who value risk control and trend confirmation:
- **Stronger Trend Signals**: By requiring RSI alignment across multiple timeframes, this indicator focuses only on trades with strong trend momentum.
- **Dynamic Risk Management**: Using both fixed and trailing exits enables flexible trade management, balancing risk and potential reward.
- **Simple Trade Execution**: The chart labels and alerts simplify trade decisions, making it easy to enter, manage, and exit trades.
#### How to Use
1. **Add** the Bewakoof Stock Indicator to your chart.
2. **Watch** for the "BUY" label as your entry point.
3. **Manage the trade** using the labeled stop-loss and target levels.
4. **Exit** on either a stop-loss hit or when the price crosses below the SuperTrend for a trailing exit.
The **Bewakoof Stock Indicator** is a complete solution for trend-following traders, combining the strength of multi-timeframe RSI with the SuperTrend’s trend-following capabilities. This systematic approach aims to provide high-confidence entries and effective risk management, empowering traders to follow trends with precision and control.
Signal Tester [Cometreon]Signal Tester is a powerful tool that allows you to analyze and visualize up to 100 historical positions directly on the TradingView chart. This indicator is ideal for quickly testing the effectiveness of trading signals from various sources.
Key Features:
Graphical visualization of entry and exit signals
Support for analysis on different timeframes
Ability to test signals from bots, groups, or personal strategies
Technical Details and Customizable Inputs:
Position Selection : Choose up to 100 recent positions, both long and short, to display signals directly on the chart.
Data Entry : Easily select the date and position type (long/short) in the settings.
How to Use the Indicator:
Enter entry and exit signals in the indicator settings.
Analyze the results directly on the chart.
Add the generated signals to the Strategy Tester to verify their effectiveness.
Start testing your trading signals now with TradeLab Beta's Signal Tester access this powerful tool and take your market analysis to the next level!
Don't waste any more time and visit the link to get access to all Cometreon indicators.
ATR Range Pivot LinesDescription:
This Pine Script calculates and plots pivot lines based on ATR (Average True Range) value and closing price. It uses the previous trading day's ATR value to set static pivot levels for the current trading day. These pivot lines help traders identify potential support and resistance levels based on historical volatility. The script includes two main pivot lines—ATR High and ATR Low —and two midpoint lines between them for additional context. Labels are added to show the exact pivot values, with options to customize label positions.
Intended Use:
The script is designed to help traders forecast potential price ranges for the current trading day based on the previous day’s volatility. By adding and subtracting the previous day's ATR from the prior close, the script identifies key levels where price action may encounter support or resistance. It is useful for setting realistic price targets or entry/exit points. Since the ATR-based pivot lines are static for the entire day, they provide a reliable range for intraday trading strategies.
Disclosure:
This script was generated using AI. It is recommended to review and test the script thoroughly before applying it in live trading scenarios.
Gaussian Filter [BigBeluga]The Gaussian Filter - BigBeluga indicator is a trend-following tool that uses a Gaussian filter to smooth price data and identify directional shifts in the market. It provides dynamic signals for entering and exiting trades based on trend changes, helping traders stay aligned with the market's momentum. What sets this indicator apart is its ability to display precise entry and exit points with real-time tracking of percentage price changes, making it ideal for trend-based strategies.
SP500:
NIFTY50:
🔵 KEY FEATURES & USAGE
◉ Gaussian Filter Trend Line:
//@function GaussianFilter is used for smoothing, reducing noise, and computing derivatives of data.
//@param src (float) The source data (e.g., close price) to be smoothed.
//@param params (GaussianFilterParams) Gaussian filter parameters that include length and sigma.
//@returns (float) The smoothed value from the Gaussian filter.
gaussian_filter(float src, params) =>
var float weights = array.new_float(params.length) // Array to store Gaussian weights
total = 0.0
pi = math.pi
for i = 0 to params.length - 1
weight = math.exp(-0.5 * math.pow((i - params.length / 2) / params.sigma, 2.0))
/ math.sqrt(params.sigma * 2.0 * pi)
weights.set(i, weight)
total := total + weight
for i = 0 to params.length - 1
weights.set(i, weights.get(i) / total)
sum = 0.0
for i = 0 to params.length - 1
sum := sum + src * weights.get(i)
sum
The core functionality of the Gaussian Filter line is to show trend direction. When the trend line increases four times consecutively, it indicates an uptrend signal. Similarly, if it decreases four times in a row, it signals a downtrend. The smoothness of the filter helps traders stay on the right side of the market by filtering out noise and emphasizing the dominant trend direction.
◉ Entry and Exit Levels with Real-Time Price and Performance Data:
Each time the indicator detects a trend change, it plots an entry or exit level on the chart. For an uptrend, an entry level is marked, and for a downtrend, an exit level is plotted. These levels display the price at the time of the signal.
While the trend is ongoing, the indicator tracks the percentage change in price from the initial entry or exit signal to the current bar, updating in real-time. When a trend concludes, it displays the total percentage change from the entry or exit point to the trend's end. This feature provides valuable insights into how much the price has moved during each trend phase and allows traders to monitor the performance of each trade.
◉ Color-Coded Candlestick Representation with Trend Shift Alerts:
In addition to coloring the candlesticks based on the trend direction, the indicator also uses gray candles to highlight potential early trend shifts. For example, if the Gaussian Filter detects a downtrend but the price moves above the filter line, the candles turn gray, signaling a possible reversal or shift in momentum. Similarly, in an uptrend, if the price moves below the Gaussian Filter line, the candles turn gray as an early indication of potential bearish momentum. This visual cue helps traders stay alert to possible faster shifts in market direction, allowing for quicker decision-making.
🔵 CUSTOMIZATION
Length and Sigma for Gaussian Filter:
Adjust the length and sigma parameters to control how the Gaussian Filter smooths the price data. A longer length provides smoother trend lines, while adjusting sigma can fine-tune the level of smoothing applied.
Levels Display and Candle Coloring:
You can toggle the visibility of entry and exit levels as well as enable or disable the dynamic coloring of candlesticks based on the trend direction. The additional gray color setting provides an extra layer of information, allowing you to spot potential trend reversals early.
🔵 CONCLUSION
The Gaussian Filter indicator is a powerful tool for identifying and following market trends. By providing clear entry and exit signals, along with real-time tracking of price changes, it gives traders a structured way to manage trades and monitor performance. The color-coded candles, including gray to highlight possible trend shifts, add another dimension to visualizing market dynamics. The added flexibility of customizing colors and trend levels makes it a versatile indicator suitable for both trend-following and reversal strategies.
Johnny's Moving Average RibbonProps to Madrid for creating the original script: Madrid Moving Average Ribbon.
All I did was upgrade it to pinescript v5 and added a few changes to the script.
Features and Functionality
Moving Average Types: The indicator offers a choice between exponential moving averages (EMAs) and simple moving averages (SMAs), allowing users to select the type that best fits their trading strategy.
Dynamic Color Coding: Each moving average line within the ribbon changes color based on its direction and position relative to a reference moving average, providing visual cues for market sentiment and trend strength.
Lime Green: Indicates an uptrend and potential long positions, shown when a moving average is rising and above the longer-term reference MA.
Maroon: Suggests caution for long positions or potential short reentry points, displayed when a moving average is rising but below the reference MA.
Ruby Red: Represents a downtrend, suitable for short positions, shown when a moving average is falling and below the reference MA.
Green: Signals potential reentry points for downtrends or warnings for uptrend reversals, displayed when a moving average is falling but above the reference MA.
Usage and Application
Trend Identification: Traders can quickly ascertain the market's direction at a glance by observing the predominant color of the ribbon and its orientation.
Trade Entry and Exit Points: The color transitions within the ribbon can signal potential entry or exit points, with changes from green to lime or red to maroon indicating shifts in market momentum.
Customization: Users have the flexibility to toggle between exponential and simple moving averages, allowing for a tailored analytical approach that aligns with their individual trading preferences.
Technical Specifications
The ribbon consists of multiple moving averages calculated over different periods, typically ranging from shorter to longer-term intervals to capture various aspects of market behavior.
The color dynamics are determined by comparing each moving average to a reference point, often a longer-term moving average within the ribbon, to assess the relative trend strength and direction.
Entry FraggerEntry Fragger is a simple buy signal indicator.
It is most suitable for cryptocurrency, especially for altcoins on the 5 minute to daily timeframe and is based on simple volume calculations, in combination with EMA's.
Main Signal Logic explained:
A buy signal is generated by counting candles with an above average sell volume of 130% to 170%, taking into account the candles position below and above the 50 and 200 EMA.
If criteria meet, the first green candle above the 50 EMA's suggests upcoming higher prices.
The indicator has 2 input variables.
"Signal Confirmations (0 - 7):" Changes signal accuracy by a defining an ammount of high sell volume candles necessary below the 50 EMA.
"Volume Calculation Base (9 - 200):" Sets the exponential volume multiplier, this affects candle coloring and the volume calculation inside the candle.
"Style Settings": Turn ON/OFF Signals, Cloud, Bar Coloring, EMA's, etc...
There are no generally suitable default numbers for those 2 inputs, those have to be tested out, depending on cryptocurrency and timeframe.
The calculation is very basic, the underlying idea being, market maker initiating range breakouts through rapid increase of volume above or below the EMA's .
Example settings:
SOLUSDT: Signal Confirmations: 2, Volume Calculation Base 13.
SOLUSDT: Signal Confirmations: 0, Volume Calculation Base 20.
As you can see it affects signals quite a lot, but staying accurate.
Finetune the inputs to your preference.
Risk to Reward, Stoploss, Take Profit, position sizing, etc... is up to the user.
Recommended entry is to wait for following candle closes, entering half of the candle size and setting Stoploss outside the structure, like this:
Or right below the candles open, for safety.
[volfgang] WAVE ScannerThe Wave Scanner helps you make more informed decisions about when to buy and sell.
This indicator operates on a series of inputs and global variable declarations. Based on the same parameters as the WAVE Indicator. It uses different parameters such as the closing price, Stochastic Momentum Index, and smoothing factors such as the EMA to calculate the potential trade signals.
The scanner allows you to adjust the thresholds for bullish and bearish counts, which can be tailored to your personal trading strategy.
The minimum value is 4 and maximum is 8.
In total you can use 8 different timeframes for your signals from the following;
3D
1D
12h
8h
4h
1h
15m
5m
The scanner's unique ability to scan across multiple timeframes is what makes this indicator unique. This multi timeframe analysis can be incredibly useful for identifying broader trends in the market.
The Wave Scanner settings also includes inputs for you to enter risk management settings, including your total capital and the risk percentage you are willing to take per trade. It uses this information to display data in a label on the chart including;
Position Size
Stop Loss Level
Potential Profit
Risk Reward Ratio
On your chart, the WAVE Scanner will plot the ideal Entry Levels, Stop Loss and Take Profit Levels by calculating Fibonacci Levels, which is a popular tool for identifying potential support and resistance levels.
These are marked as follows;
GREEN Lines: Entry Levels
PINK Line: Stop Loss (can be customized in the settings)
GREY Line: Breakeven Level (move SL to breakeven at this level)
BLUE Line: Take Profit Level
So, if you're a trader looking to level up your strategy, the Wave Scanner is a tool you won't want to miss out on.
Probability Box Rule of Thirds [PPI]█ Probability Box Rule of Thirds
The Probability Box Rule of Thirds , is a visual indicator that helps traders identify possible overbought and oversold conditions. It does this by dividing the price range – highest high minus the lowest low of a given lookback period or date range – into thirds. Each third has distinct probability characteristics and when combined represent a probability box.
We have spent years refining the probability box concept, and have previously published a How To on Trading View – "How to Trade Probability Ranges – The Critical Rule of 1/3" which can be found here:
To quickly summarize the How To – when using the Rule of Thirds , you are using a combination of statistics, probabilities of success, and prior price action to determine when to enter a trade. The visual range division helps remove subjectivity and clearly shows when the trading odds are stacked in your favor. By identifying and taking higher probability trades, you have a higher chance of success as trading is all about probability and risk management.
Implementing the Rule of Thirds starts with finding an instrument that is consolidating and identifying the nearest important support and resistance levels based on your targeted trading timeframe or lookback period.
The range between the support and resistance levels is divided into thirds to form three zones within the consolidation range.
When going LONG , you want to BUY in the bottom third of the range. Once you buy, your objective is to hold during the middle third and sell when the price enters the top third.
When you buy in the lower third, there's a 66.6% probability of success. If you buy in the middle third, you only have a 50% / 50% chance of success. Going long in the top third of the range gives you a 33.3% chance of success as you are already close to the identified resistance level.
When going SHORT , the sequence and odds are reversed. You want to SELL in the top third of the range, hold the middle third and exit in the bottom third of the range. This gives you a 66.6% chance of success when entering in the top third, a 50% / 50% chance when entering in the middle third, and a 33.3% chance in the bottom third given you are already close to the identified support level.
When the price lies in the middle third, the even 50% / 50% odds provide no probability edge and a trader is better off waiting until the price reaches the upper or lower thirds of the price range.
The Rule of Thirds allows us to quickly visually evaluate trades based on probabilities, selectively enter trades that have the highest odds of success, and avoid likely losing trades. The Rule of Thirds gives you confidence to hold trades based on prior trading ranges and provides clear levels where the prices are likely to either reverse or start trending.
The Probability Box Rule of Thirds automatically implements the first two steps of the Rule of Thirds by using the highest high and lowest low of a given lookback period to identify the support and resistance levels, and automatically divides the range into thirds. The rest of the Rule of Thirds rules remain the same.
Just having the price within the bottom thirds or top thirds, however, does not mean the price will immediately reverse. The GE chart below is an example of a stock that remained 'stuck' in the upper thirds of the price range for an extended amount of time:
And the CVS chart below is an example where the price is 'stuck' in the lower thirds of the price range:
While the price is in the upper or lower thirds, it is very important that the trader should use other indicators to identify when a significant trend reversal occurs. Once a trend reversal event happens, the trader either enters a trade AND/OR exits a trade if already in one.
When the price exceeds the bounds of the probability box, there are three possible outcomes – a strong continuation trend, the price consolidates around the probability box edge, or a trend reversal. Your favorite indicators will help determine which event is happening.
The CVS chart above is a good example of the probability box being exceeded with the last bar. The price exceeding the price range is temporary event as the price range will expand to encompass the revised price range on the next trading day.
█ Indicator Features
Each supported timeframe – Monthly, Weekly, and Daily – allows the selection of an appropriate lookback period for your trading style. The defaults are a good starting point for swing trading and long-term investing. You many need to experiment to find the optimal lookback period for your trading style.
Even if you only day trade, the Probability Box Rule of Thirds with the appropriate lookback periods can help you visualize the bigger picture of where the instrument is heading.
When viewing the charts, you can find the currently selected lookback period above the upper edge of the price range.
The indicator will display a dotted yellow line at 50% of the price range and show the line's value when requested.
The visibility of the actual thirds and border price values are controlled by the " Show Probability Box Values " checkbox. You may need to expand the chart's right margin to see the values.
The " Show Internal Labels " checkbox controls the display of the internal ⅓ Division labels and the percentage odds, along with the 50% label. This option by default is set to off.
The " Show Error Messages " checkbox controls the display of error messages and by default is turned on. Turn off to prevent error messages from being shown on intraday timeframes. Save as indicator default to prevent having to turn off this setting each time added to chart.
The color and transparency controls allow the user to modify the colors used for each third. The default settings are optimized for use with a DARK background.
█ Implementation Notes
IMPORTANT - the Probability Box Rule of Thirds is set up to only handle Monthly, Weekly and Daily charts. This is intentional as the indicator is designed to be used for safer multiple day and longer swing trades. When viewed on intraday charts, the indicator will be hidden.
The Probability Box Rule of Thirds uses a rolling window of the equivalent number of bars for the lookback period rather than relying on the bar starting and ending dates. This allows the use of a standard number of days in the selected lookback window across various instruments and ensures fast, efficient calculations.
The lookback periods are adjusted when non-standard timeframe multipliers are used – e.g., a 12M chart timeframe and a 3-year lookback period will result in a 3 bar lookback. Fractional bars in this calculation are rounded up and any incompatible lookback period and chart timeframe combination will generate a runtime error.
In summary, the Probability Box Rule of Thirds automates and visually identifies overbought and oversold areas, which combined with the Rule of Thirds probability risk profiles, increases your odds of success through better trade selections and higher confidence in your trades.
█ Disclaimer
There is substantial risk in trading. Losses incurred in trading can be significant. Only trade with money you can afford to lose. We make no claims whatsoever regarding the impact of past or future performance on your trading results.
[TT] Entry ProIndicators doesnt make money, it is the concept behind the indicator that makes money. Please read and understand before contact. This is not for beginners or people who are looking for Buy Sell signals. Purely for those who can understand the concept of confluence.
This indicator will help you identify the Entry candle with confluence of SMC or Pivots or any other analysis that you use.
Rules to follow :-
1. Identify Support Resistance (Smart Money Concept), Pivots, Trendlines (Choice is Yours)
2. Once Identified S&R Look for Bearish Candle at resistance or Bullish signal at Support, mark the areas
NSE:NIFTY
3. At Support as shown above in examples if the pink candle or the confirmation candle doesnt close break the support but closes above the support area, we do not consider it as break down. Some time breakdown happens and then at retest we get the bearish signal, that will be a good entry.
4. Like wise at resistance if you cant see a bullish signal breaking the resistance area, we do not consider break out. Same as above sometimes we get a signal after breakout and while retesting. Bullish SIgnal At support example is given below
NSE:BANKNIFTY
5. Enter in to a trade right when you get the signal use less lot size when you do and once you see price coming in to the range of the colored candle keep accumulating more at OHLC areas, first at high of colored candle and then close and then HL2 areas likewise, this helps to reduce your SL.
Note:
Areas to remember and not to get confused. At Important levels (Support or Resistance) once you get a relavent signal while retesting that signal you get a counter signal do not get confused by that and exit the trade. once you enter a trade you have to remain there as long as your SL is not hit. Remember that You have to use this retest candles to enter in to a trade, but not to get scared.
How to Use this in Swing or Long term trading? Futures or Stocks !!!
Look at the setup below Use weekly Chart to analyze for investment. In the below chart you can see there is a breakout of Swing high with candle and then a retest happened Twice but that area is intact. The best strategy to consider confluence is SMC. Thats what my perfect Setup is. You can use Orderblock to see if that orderblock is valid or not. Below you can see NSE:BANKNIFTY
Few more Stocks for Example. NSE:AXISBANK
BITSTAMP:BTCUSD
OANDA:EURUSD
Strictly Not assuring any 100% results. You need to least be confident on one concept of trading to aquire results.
Three-Day Rolling PivotThe three-day rolling pivot is another pivot concept,
which may be used by intermediate positions, for several days or even weeks.
It can be utilized in many ways, such as to determine an entry point or trailing stop.
As the name suggests, this pivot is based on the last three days.
I learned this concept of the book "The logical Trader" by Mark Fisher.
Kudos go to him!
My version of the Three-Day Rolling Pivot uses actual data!
And all similar scripts I have found so far calculate future data and don't take into account the original data.
I hope this script will help some people to do some better decisions.
And I am pleased to get some advice to make this script even better!
Future data vs original data
Pine Script v5 Reference Manual:
Merge strategy for the requested data position... This merge strategy can lead to undesirable effect of getting data from "future" on calculation on history. This is unacceptable in backtesting strategies, but can be useful in indicators.
e2e4 on Stack Overflow said:
Pine v1-v2's security() function is using the lookahead parameter by default, which could be modified in v3-v5...
stackoverflow.com
I haven't found a script which put this into account jet.
I leave this option available for people that wanna more speculated data. But it's disabled by default.
Long/Short Example
You can enter Long when the market cross over the upper line (default color is green) and you should put your trailing stop 1-5 ticks below the lower line (default color is red).
The opposite when Shorting, then the market has to cross down the lower line and your trailing stop should be 1-5 ticks above the upper line.
How does this script work:
First it fetches the highest high of ...
yesterday,
the day before yesterday,
and the day before that.
After that the script looks for the highest high of all three.
Next it does the same for previous lowest low.
Last but not least, it fetches the closing price of the last day.
After that it adds all three prices together and divide them by three.
This result in a three day pivot price.
Then it adds the highest high and lowest low of the three last days and divide it by two.
This gives us the second number we need to calculate the differential.
The differential is the gap between the three day pivot price and the second number.
Sometimes the second number is bigger than the three day pivot price so I took that into account too. Other wise the colors plotted would be on the wrong site.
Finally, the script is rounding the numbers to the nearest minimum tick of that security.
Consolidated IndicatorI have attempted to combine all the parameters to decide on the entry and exit points for stocks. The indicator combines
1) EMAs
2)PSAR
3)ATR
The script also attempts to show the risk-reward
[Old] TL with K/K and CustomizationThe old version of Trap Light before the most recent update. In order to facilitate the table functionality that is currently available for Trap Light, I had to make some values that are used in calculations hard-coded. By request, I'm quickly making this version available.
Trap Light
Description
Trap Light is an indicator that uses the K value of the Stochastic RSI to indicate potential long or short entries. It was designed to operate like a traffic stop light that is displayed near the current candle so that you don't have to look away from the candlesticks while trading.
Kriss/Kross is simply a cross over/under strategy that utilizes the 10 EMA and the 50 EMA .
Signals and Available Alerts:
1. Max Sell (Red Sell Label)
When K is equal to 100.00.
This is the strongest sell signal, remember that you only need to make sure that the trend is reversing before you make an entry, because several of these signals can appear in a row if a strong trend hasn't yet reversed.
2. Sell (Red Sell Label)
When K is equal to or greater than 99.50.
A sell signal.
3. Close to Sell (Red Down Arrow)
When K is equal to or greater than 95.00.
A sell signal may be produced soon.
4. Not Ready (Yellow Circle)
When K is less than 95 and greater than 5.00.
This indicates that neither a sell nor buy signal are close to being produced.
5. Close to Buy (Green Up Arrow)
When K is equal to or less than 5.00.
A buy signal may be produced soon.
6. Buy (Green Buy Label)
When K is equal to or less than 0.50 and greater than 0.00.
A buy signal.
7. Max Buy (Green Buy Label)
When K is equal to 0.00.
Strongest buy signal, remember to make sure that the trend is reversing before making an entry.
8. Kriss (Buy)
A buy signal when the 10 EMA (Blue) crosses above the 50 EMA (Yellow). This is also illustrated by the triggering candle being colored blue.
9. Kross (Sell)
A sell signal when the 10 EMA (Blue) crosses below the 50 EMA (Yellow). This is also illustrated by the triggering candle being colored yellow.
Customization of many different options is available, and the code is open-source for your reference, etc.
Remember to do you own due diligence and feel free to leave a comment with questions, etc.
[TT] Daily Levels
These pivots are based on calculations that i have been using for quite some time. I'm sure There is no need to explain on how to use pivots.
Labels are given to understand and you can Msg me here or comment if u need any explanation.
I have given few examples below.. check i t out
XAUUSD
BTCUSD
Nifty
Banknifty
TOTC - Trade outside the Channel (aka "Chaos Coaster") [Free]To make the strategy known as the "Chaos Coaster" (published by "Perfect Entry" group) easy to use, simplify backtesting, and increase awareness, I combined three indicators into one. The result is this standalone indicator, which provides clear signals based on the original rules of the strategy.
Let's look at the rules and components of the strategy to explain how the indicator works and signals:
As a baseline we use a "Pivot (Fractal) Chaos Channel" or also known as "Fractal Chaos Band".
Essentially, the "Fractal Chaos Channel" shows an overall panorama of price action. As they filter out the insignificant price fluctuations. The upper level is created by drawing price highs and the lower level is created by drawing price lows.
As our first confirmation and to identify the direction of the trend, we use the momentum technical oscillator “TSI – True Strength Indicator”.
As a second confirmation, we use my indicator "PaP - Procul ad Pretium", which is not yet public. It helps to identify a trend at an early stage or to serve as confirmation. In short, as the name implies, the indicator tries to identify the trend based on the distance of prices to trending averages, smoothed with moving averages of your choice.
(In the original version of the strategy, "Piphunter lmi" by the_w15rdx is used. PaP provides comparable results.)
The rules for "long" or "short" signals
The basic rule is: "Trade outside the channel" when PaP and TSI point in the same direction.
Rule 1 of the Strategy:
A candle breaks and closes outside the "Pivot (Fractal) Chaos Channel". For "long" positions, the price must break the upper level. For "short" positions, the price must break the lower level.
Rule 2 of the Strategy:
The direction of the TSI must match the break direction of the "Pivot (Fractal) Chaos Channel". For long positions, TSI must be above its signal line. Vice versa for "short" positions.
Rule 3 of the Strategy:
The direction of "PaP - Procul ad Pretium" must match the break direction of the "Pivot (Fractal) Chaos Channel".
Outputs and Filters
The output is the "Pivot (Fractal) Chaos Channel" whose background corresponds to the direction of "PaP - Procul ad Pretium" and whose lines reflect the direction of "TSI - True Strength Indicator".
"long" or "short" signals are indicated by colored candlesticks and arrows. If there are several signals per level of "Pivot (Fractal) Chaos Channel", they are also numbered consecutively.
In addition, the signals can be filtered by defining the maximum number of signals per pivot (fractal) level.
How can this indicator be used?
As mentioned, this indicator provides the signals for the strategy that has become known as the "Chaos Coaster". Details and even videos of this strategy can be found online. I can also provide a list of links upon request.
Limitations of this free version
The default settings of the indicator reflect the original version of the strategy. Some parameters cannot be changed or can only be changed to a limited extent in this free version. To get full access to all parameters, send me a private message here on TradingView.
Setting up alerts and what needs to be considered
Alerts take into account the settings of the indicator at the time of creating an alert. I therefore recommend setting up the alert again after making changes to the settings. To receive alerts: "Add Alert to TOTC" and select "Any alert() function call".
What do I need to consider?
It may be advisable to add further indicators and an analysis of the market structure in order to confirm the signals issued by the indicator. Please note that when you make adjustments to any strategy, you always carry out particularly detailed tests.
You would like to use this strategy, but you have adjustment requests, you want to have additional filters or features implemented, ...?
I am happy to create individual indicators based on "TOTC - Trade outside the Channel ". Write me a PM and we will discuss the details and conditions.
Will this indicator be further developed and will I receive free updates?
All my indicators are of course constantly updated and, if possible and with the aim of the indicator justifiable, supplemented by user requests. If you like this indicator and follow me here on TradingView, you will be informed about updates and also new indicators.
10 EMA StrategyThis indicator shows you:
- The first bullish candle to close below EMA 10
- The first bearish candle to close above EMA 10.
Optional:
You can enable the exit signals in the setting. This will show you:
- If you are long (bullish), it will signal when the first bullish candle closes below EMA 10
- If you are short (bearish), it will signal when the first bearish candle closes above EMA 10
You can also change the EMA 10, to another length, if you want to try something else.
ALFX - CEI SniperHello everyone!
This is a reasonably comprehensive indicator for taking entries on the lower timeframe based on my personal experiences.
This indicator uses three key elements to provide entries that occur only a handful of times throughout the month on lower timeframes. The first element incorporated is used in naked trading strategies, which involve using specific conditions for the candle profile to determine short-term directional bias; for example, the candle must be an engulfing candle to be considered a valid entry. The second element is the use of EMAs to identify crossovers, usually called 'Slingshot' candles, which push price in the pro-trend direction after a short-term pullback. The last element is MACD pro-trend crossovers, which can indicate a future reversal or a continuation of the trend direction with a good level of consistency.
How to Use
The most important element of this indicator is the standard buy and sell signal candles. You will find that they do not appear often and are displayed on the chart as either Green or Red Candles with Diamonds above (sell) or below (buy) them; if you receive an alert and see one of these candles form you can consider the entry in the proposed direction. All other elements are designed to support the entry and confirm that the entry is indeed 'high-probability.' In terms of elements, these are just some of the questions I ask myself before taking the trade.
1) Does this entry candle make sense?
2) Has price tested an area of significance and rejected it? If so, how many times did it test?
3) Am I trading with the trend?
4) Was there a market structure break?
5) Is the EMA the same colour as the entry candle?
6) Has there been a recent MACD pro-trend crossover?
Every person is different, and so you must create your own confirmations to support your trading style.
Settings description
NOTE: The default value for each setting are my settings; it is advisable to backtest this to see if in the current market condition the indicator works satisfactorily; my personal study makes me feel that this indicator performs well anywhere between 1-10m timeframe
Entry Type
Enable Long: Enable this if you want to see all long related data (TRUE)
Enable Short: Enable this if you want to see validation for short related data (TRUE)
Trading Session Times
Use Session Filter: Use this if you only want signals during New York and London Trading Sessions (TRUE)
London Start Time: The start time of the London session (03)(15)
London End Time: The end time of the London Session (07)(00)
New York Start Time: The start time of the New York Session (08)(00)
New York End Time: The end time of the New York Session (12)(00)
Standard Candle
Room To Left Interval Check: Price action Technique which involves checking the X number of previous candles to see if the price has space to move in the intended signal direction (2)
Largest of Last X Candles: Price Action Technique which involves checking X number of previous candles to see if volume has entered the market in the form of a larger candle body (7)
Slingshot Candle
Aggressive Slingshot Candles: High-Risk Slingshot Candles where there is not as much confirmation of predicted price movement (False)
Conservative Slingshot Candles: Medium Risk Slingshot Candles where predicted price movement has more confirmations (False)
Conservative Entry Arrows: Safer entry candles where bias has been confirmed (False)
Trend Arrows: If you prefer directional arrows for your slingshot candles, use this (False)
Show Buy & Sell Letters: If you prefer Buy and Sell headers for slingshot candles, use this (False)
EMA Settings
SlingShot EMA Long: Slow EMA used for Slingshot candles (62)
SlingShot EMA Short: Fast EMA used for Slingshot candles (38)
EMA Timeframe: General EMA used in some of the logic (can be left as "Same as Chart" setting) (Same as Chart)
EMA 1 Length: High Timeframe EMA used to determine trend direction and filter MACD Signals (100)
Supertrend with Chop SuppressionA Standard Supertrend indicator with Chop Suppression added to minimize bad entries when the market goes sideways. Chop Suppression will hide alerts/entry signals that otherwise would have been generated during sideway price action.
Recommend using this indicator with a secondary long-term trend indicator such as VWAP or 200 EMA . Trade with the long-term trend for higher success rates.
You can use either traditional fixed stop loss and profit taking or adjust the stop loss with the rising Supertrend line and exit when color of Supertrend changes.
Good luck!
Buy Sell Indicator by Independent ResearcherThis is an Buy and Sell Oscillator. Its show the trend reversal or change in price action of the market. This indicator is a combination of various moving averages. This is like a MACD but a very powerful version.
How To Use It
If green line gives crossover white line towards down then price is expected to fall.
If red line gives crossover white line towards up then price is expected to rise.
For better results of indicator trade after closing of crossover candle.
There is a band +.20 to -.20 for better results trade on crossover happens between that band.
Below you will see an example:-
XAUUSD
EURUSD
Professor Snipe: A superadaptive moving average. Prof. Snipe is a superadaptive, multi-purpose indicator I developed in order to judge market trend strength and show high probability entry points.
The indicator is focused around a zero lag moving average algorithm (SUPER-MA, ), that changes its parameters depending on the volatility (ATR) and trend strength (ADX).
If the price (black 3 period MA) is above the Super-MA, this indicates market momentum and strength. If price is below the Super-MA, price and momentum are showing weakness.
Micro-Signals are given based on smaller lag-free moving average crossovers (blue and red arrows), but entries will depend on the location of price, with respect to the super-MA.
Furthermore, to judge the current price position with respect to high timeframe averages, the algo will automatically show the location of the nearest moving averages for support and resistance.
/////////////////////////
Entry Conditions example.:
For Longs:
Wait until the 4 hour trend flips bullish, price above Super-MA. Once it does, it will often retest the Super-MA as support. When that happens, use the next entry signal to go long.
For further safety, check the safety net (dotted hull moving average) to see if price has broken above that too, for an optimal long.
-- use caution when entering longs if: price is floating around the super-ma (very weak trend) and if price is below super-ma.
For Shorts:
Wait until the 4 hour trend flips bearish, price below Super-MA. Once it does, use lower timeframes to find short entry points using the MA signals.
-- use caution when entering shorts if: price is floating around the super-ma (very weak trend) and if price is above super-ma.
DYOR and test it yourself to find what works for you.
BE AWARE!
Just following the entry and exit signals (arrows) will not give you perfect results.
Summary:
Overall, this is probably the best indicator I have ever created, and has a very high success rate when used properly.
Best,
MM
Cracked Entry & ExitThis just helps give you a good signal that it could be a good place for an entry. Please note that this indicator is made for scalping. This means you need to be shaving/skimming/taking profits frequently. I have found that when this signal starts to appear that is when I zoom out on larger time frames to see if it is in fact a good time to go in. I typically set a very tight stoploss and/or move it up into the green quickly. Hope this helps.
SNAP BACK 2.0 Strategy
This strategy is designed to allow you to catch the bounce or "SNAP Back" of an equity that has been in a trend.
1) Once the moving averages are in the order of 200SMA > 50 SMA > 34EMA > 20SMA > 8EMA (or reverse for and uptrend), the strategy is setup.
2) Next you wait for a trigger of the closing price crossing the 8EMA, while there is a desired gap size between the 8EMA and the 20SMA (2-10% of stock value preferred).
3) Exit position based on target profit reached (conservative sell half at 34EMA and engage a trailing stop loss for remainder or set static limit) or price crosses 8EMA or stop loss%
*)This code also allows you to determine your desired backtesting date compliments of alanaster
This code is the product of many hours of hard work on the part of the greater tradingview community. The credit goes to everyone in the community who has put code out there for the greater good.
The idea for the coding came from a video I watched on YouTube presented by TradeStation called Snap Back - thank you guys for the inspiration.
UPDATE: I have coded the other side of the strategy to allow you to take advantage of the same set-up in an uptrend for Short plays. You can turn the up or downsides on, off, or both.
The main intent is to catch the bounces of a falling stock. However, I have found that you can do the inverse and catch the drops in a rising stock (the latter is not as reliable). This also tends to work better on less volatile stocks. I have included a large volume of user defined conditions and display entry and exit conditions on the chart to see how your choices are impacting the script.
Volume Strength IndicatorThis Indicator is built to give you an edge into the market. Given volume, volatility and price-action, it compares market conditions against the maximum that have occurred so far in the session. Useful for intraday and day trading for timing entries with the smart money.
The green/red histogram gives us a view into the relative strength of the current bar, whether they have strong buying or selling power.
The orange signal line gives us a view of the recent trend, which can be modified using the various inputs.
