ViPlay Signal Indicator ProViPlay Signal Indicator Pro is an innovative tool designed for traders looking to enhance the accuracy and effectiveness of their trading decisions. It provides a comprehensive approach to market analysis, generating informative trend change signals based on in-depth market analysis and advanced algorithms.
By adjusting the RISK parameter, traders can customize the signal frequency to match their preferences and trading strategies. This versatile tool is suitable for various trading styles and assets, including Forex, stocks, cryptocurrencies, and commodities, helping traders make informed decisions across any market.
Key Features of the Indicator
1. The RISK parameter controls the frequency of trend change signals. The lower the value, the more frequent the signals will appear, and vice versa. This gives users flexibility in adjusting the indicator according to their strategy.
2. Signal Generation:
Modified Range Oscillator (MRO):
This is the core element of the indicator's functionality. It works in two stages:
– MRO1: This stage focuses on short-term price movements, identifying volatility peaks and potential reversal points that may indicate an upcoming trend change. It is particularly useful for traders looking for quick opportunities.
– MRO2: This stage analyzes long-term trends, filtering out minor market fluctuations. It helps traders focus on more stable movements, reducing the impact of noise.
Williams %R:
This indicator works in conjunction with MRO, confirming reversal points by analyzing market overbought or oversold conditions. This reduces the likelihood of false signals, providing additional confidence in forecasts.
The combination of MRO and Williams %R ensures that traders receive reliable and timely signals, reflecting both immediate market conditions (via MRO1) and long-term trends (via MRO2), making the tool suitable for different trading horizons.
How the components work together:
MRO performs the primary task of identifying potential trend reversal points, dividing the analysis into short-term and long-term perspectives. In the first stage (MRO1), it evaluates market volatility and predicts potential reversals. In the second stage (MRO2), it filters out random fluctuations, providing more stable signals. Williams %R acts as an additional layer of confirmation: if MRO indicates a trend reversal and Williams %R confirms it by showing overbought or oversold conditions, the signal is considered more reliable.
In an uptrend, MRO1 indicates a reversal when the price reaches a local high, while MRO2 confirms the trend's stability. Williams %R further validates this signal, reducing the likelihood of a false entry. In a downtrend, the indicator works similarly, helping traders lock in profits or open short positions.
Williams %R:
Complements MRO by assessing market conditions for overbought or oversold levels. If MRO1 indicates a reversal and Williams %R confirms it, the likelihood of a false signal is significantly reduced.
RISK parameter:
Controls the sensitivity of MRO1 to changes in volatility. At higher values, minor fluctuations are filtered out, which is useful for long-term strategies. At lower values, the signals become more frequent, making it suitable for scalping.
3. Visual Signals:
– Green Up Arrow: Marks potential upward trends.
– Red Down Arrow: Marks potential downward trends, helping traders identify possible entry points
4. How levels are calculated:
Support and resistance levels are calculated based on historical price data. Specifically:
Support 1: This is the minimum price (low) over the last 200 bars.
Support 2: This is the minimum price over the last 500 bars.
Support 3: This is the minimum price over the last 1000 bars.
Resistance 1: This is the maximum price (high) over the last 200 bars.
Resistance 2: This is the maximum price over the last 500 bars.
Resistance 3: This is the maximum price over the last 1000 bars.
The levels are not static; they update with every bar, allowing traders to see current price zones. Users can enable or disable the display of different levels through parameters.
Support and resistance levels help traders identify key points for potential price reversals. The indicator automatically calculates these levels and displays them on the chart, allowing the user to use them for making trading decisions.
How to Use ViPlay Signal Indicator Pro
1. Add the Indicator to the Chart
2. Choose a Timeframe suitable for your trading strategy. The indicator supports all timeframes.
3. Customize Parameters:
Adjust the RISK parameter to control signal frequency (1–49, default 49).
Set the Take-Profit percentage (default 7%).
Configure moving average periods.
Adjust support and resistance levels.
4. Analyze:
– Use informative buy and sell signals based on market analysis.
– Use a customizable Take-Profit level based on the entry price to determine optimal exit points.
– Utilize key support and resistance levels on the selected timeframe to identify optimal entry and exit points.
– The information in the table indicates the strength of the current trend. When the value reaches 0 or 100, the trend changes.
* Note that the indicator serves as an analytical tool and does not replace sound trading strategies.
Uniqueness and Originality
1. Innovative Algorithms
The combination of Modified Range Oscillator (MRO) and Williams %R is not a standard pairing in trading tools. The two-phase approach of MRO provides users with a comprehensive understanding of the market, offering information on both short-term fluctuations and long-term trends, while Williams %R serves as an additional filter to eliminate false signals.
2. The indicator uses mathematical functions such as True Range (TR) to analyze volatility and identify potential entry and exit points.
3. Versatility
The indicator supports all financial market assets, including Forex, stocks, cryptocurrencies, and commodities. It adapts to any trading style or strategy. Additionally, it is compatible with all timeframes, benefiting both short-term and long-term traders.
4. Ease of Use
5. All elements of the indicator can be customized or hidden according to the user’s needs, making it a convenient tool for market analysis. The indicator is compatible with all financial market assets, including Forex, stocks, cryptocurrencies, and commodities.
Important Notes
This indicator is an analytical tool and does not guarantee profits. Signals should be used alongside personal analysis and risk management strategies. Traders should note that no indicator can provide 100% accurate predictions, and there is always a possibility of false signals.
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Lot Size & Risk Calculator (All Pairs)this indicator is designed to simplify and optimize risk management. It automatically calculates the ideal lot size based on your account balance, risk percentage, and defined entry and exit levels. Additionally, it includes visual tools to represent stop-loss (SL) and take-profit (TP) levels, helping you trade with precision and consistency.
WHAT IS THIS INDICATOR FOR?
This indicator is essential for traders who want to:
Maintain consistent risk in their trades.
Quickly calculate lot sizes for Forex, XAUUSD, BTCUSD, and US100.
Visualize key levels (Entry, SL, and TP) on the chart.
Monitor potential losses and gains in real time.
COMPATIBLE ASSETS
The Lot Size Calculator works with the following assets:
Forex: Standard currency pairs.
XAUUSD: Gold versus the US dollar.
BTCUSD: Bitcoin versus the US dollar.
US100: Nasdaq 100 index.
Calculations adjust automatically based on the selected asset.
TAKE-PROFIT (TP) LEVELS
The indicator allows you to define up to three take-profit levels:
TP1
TP2
TP3
.
Each level is configurable based on your exit strategy.
DASHBOARD
The dashboard is a visual tool that consolidates key information about your trade:
Account balance: Total amount available in your account.
Lot size: Calculated based on your risk and parameters.
Potential loss (SL): Amount you could lose if the price hits your stop-loss.
Potential gain (TP): Expected profit if the take-profit level is reached.
SETTINGS
The indicator offers multiple configurable options to adapt to your trading style:
Levels
Entry: Initial trade price.
Stop-Loss (SL): Maximum allowed loss level.
Take-Profit (TP): Up to three configurable levels.
Risk Management
Account balance ($): Enter your total available balance.
Risk percentage: Define how much you're willing to risk per trade
.
Visual Options
Visualization style: Choose between simple lines or visual fills.
Colors: Customize the colors of lines and labels.
Dashboard Settings
Statistics: Enable or disable key data display.
Size and position: Adjust the dashboard's size and location on the chart.
HOW TO CHANGE AN ENTRY?
Open the indicator settings in TradingView and entering the new data manually
Removing and re-adding the indicator to the chart
2 Bar Master Pattern Indicator ( MTF Inside Bars ) THE 2 BAR MASTER PATTERN IS A PRICE ACTION INDICATOR
It is based off of the master pattern concepts which explains the market moving through a 3 phase cycle.
Phase 1 - Contraction
Phase 2 - Expansion
Phase 3 - Trending
THESE 3 PHASES ARE HAPPENING ON EVERY TIME FRAME AND ON EVERY ASSET CLASS.
The first phase of the cycle is the contraction phase, this is where price goes
into contraction which is measure by a simultaneous lower high / higher low.
The contraction phase can be measured with many forms of contraction methods, such as 2 bar / 3 bar and multi bar contraction detection.
The 2 bar master pattern detects inside bars, based off 2 bar candle detection, when detected it will color the candle and a value line will project out of the center.
When it identifies an inside bar it will bring a line through the centre of the inside bar which is known as a value line, these are key levels that price can either find support or resistance on these levels, or a level when broken price can breakout and take off.
MTF FUNCTIONALITY
We have coded into the logic a Multi Time Frame function so that you can have it identify any inside bar on any time frame. 2 bar inside bars work best on higher time frames such as the 4hr and above therefore with the multi time frame functionality you can set it to a higher time frame of choice and be on a lower chart timeframe where you will take your entries off of.
SHORT ENTRY EXAMPLE
LONG ENTRY EXAMPLE
In the example above its set to the weekly chart as the time frame to detect the 2 bar master patterns, and the timeframe for entry is the 4hr time frame, this will change depending on your trading style and timeframes you like to trade on.
2 BAR MASTER PATTERNS CAN BE USED FOR REVERSALS AND CONTINUATION TRADING.
CONTINUATION INSIDE BAR TRADING
When you have a inside bar formed on a higher time frame, you mark the high and low of the inside bar, and depending on the direction of the trend - if on a up trend and it breaks the high of the inside bar is an long entry - and if its on a downtrend and the low of the inside bar is broken thats the set up for a short entry.
REVERSAL INSIDE BAR TRADING
When you have an inside bar forming at the bottom or top of a range or key level, this can be a sign of weakness and a potential area where price will reverse in the opposite direction.
2 BAR MASTER PATTERN INSIDE BARS EITHER SHOW STRENGHTH OR WEAKNESS OF A TREND
If combined in combination with the higher time frame trend direction and the master patten concepts principles, you can find amazing entries.
Best place to look for long entries on a confirmed uptrend is when price is under the value lines
Best place to look for short entries on a confirmed downtrend is when price is above the value lines
Once you understand that the market is moving in this 3 phase cycle and become adept and identifying the 1st phase which is the contraction phase, it can open the door to a new way of percieving the market and making sense of the seemingly randomness of how it moves.
Hawk Algo ProHawk Pro Algo: The Ultimate Smart Money & Trend Detection Tool
Hawk Pro Algo is a powerful trading indicator designed to help traders track institutional money movements, detect trend reversals, and generate precise buy/sell signals. By leveraging advanced algorithms, volume analysis, divergence detection, and dynamic gradient features, Hawk Pro Algo gives you the edge needed to navigate both trending and ranging markets with confidence.
Smart Money Detection
Hawk Pro Algo goes beyond standard indicators by focusing on tracking the movements of smart money (large institutional trades). This feature identifies key moments when significant players are entering or exiting the market, enabling you to align your trades with those of the most influential market participants.
Institutional Buy Signals: These signals occur when strong upward momentum, backed by large institutional buying, is detected. It gives you a clear sign that the market is about to rally.
Institutional Sell Signals: On the flip side, sell signals are generated when institutional selling pressure emerges, allowing you to exit positions before a significant drop.
These signals ensure that you're trading in sync with the smart money, maximizing your opportunities for profitable trades.
Buy & Sell Signals: Multiple Entry/Exit Points
Hawk Pro Algo comes equipped with multiple layers of buy and sell signals, giving traders the flexibility to spot different types of trading opportunities:
1. Diamond Buy & Sell Signals
Buy Diamonds: A green diamond appears when a combination of bullish signals, such as a strong price pattern and institutional buying pressure, align. These are ideal for capturing market upswings after confirmation.
Sell Diamonds: A red diamond is plotted when bearish conditions take over. This is a clear indicator that institutional sellers are driving the market down, signaling an ideal moment to exit.
2. CCI Cross Signals
CCI Buy Signals: Triggered when the Commodity Channel Index (CCI) crosses above a certain threshold, indicating a shift in momentum to the upside. This is visualized with a green cross, signaling a strong entry opportunity.
CCI Sell Signals: Similarly, when the CCI crosses below a threshold, a red cross is plotted, signaling the momentum has shifted downward, and it’s time to consider exiting.
3. Circle Buy & Sell Signals
Buy Circles: A green circle appears when the market is ready to reverse from a downward trend, confirming a strong buying opportunity. This is often combined with oversold conditions in the CCI to further validate the entry.
Sell Circles: A red circle is shown when the market is ready to correct or reverse after an upward movement. It confirms an ideal exit point to lock in profits before the market pulls back.
4. Trigger Signals
Buy Triggers: Trigger signals indicate moments of market manipulation or sudden dips in price, where a reversal could be imminent. These signals suggest that the market could rally after a short-lived price drop.
Sell Triggers: These are moments where downward manipulation is detected, warning traders of a potential sell-off or correction after a price spike.
Gradient CCI Oscillator: Dynamic Trend Strength with Overbought and Oversold Detection
The Gradient CCI Oscillator is one of the most unique aspects of Hawk Pro Algo. It combines momentum detection with visual cues to show trend strength and potential reversal points. The CCI doesn’t just indicate regular overbought and oversold levels—it provides a dynamic gradient transition to help you gauge market momentum.
Overbought and Oversold Glow
Potential Reversals (Glow Signals)
When the market is reaching critical overbought or oversold levels, Hawk Pro Algo uses a pink glow on the CCI to signal potential reversals:
Pink Glow (Overbought): When the CCI turns pink, the market is nearing a potential reversal from overbought conditions. It suggests caution and may be a signal to prepare for a downturn.
Pink Glow (Oversold): Conversely, a pink glow in oversold conditions signals a potential upward reversal, providing an early warning to get ready for a bullish move.
Three CCI Color Logics: Momentum and Reversal Detection
Hawk Pro Algo features a three-step gradient system that helps you visualize trend strength and detect potential reversals. This tricolor CCI logic transitions smoothly between green, white, and red, giving traders a deeper understanding of market dynamics.
#1: Red → White → Green Transition (and vice versa)
Green: Indicates strong bullish momentum. The CCI turns green when the market is in a strong upward trend, especially after recovering from oversold levels.
White: Represents a neutral zone, showing that momentum is fading or in transition. When the CCI is between overbought and oversold levels, the indicator turns white, signaling indecision or a potential upcoming shift in trend.
Red: Indicates strong bearish momentum. The CCI turns red when the market is under selling pressure or in an overbought state, signaling potential weakness.
This color transition allows you to see when momentum is shifting from bullish to bearish (or vice versa) and helps you time your entries and exits with greater precision.
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#2: Flippable Gradient CCI
For added flexibility, Hawk Pro Algo allows you to flip the CCI gradient colors to suit your personal preference:
By default, the gradient transitions from green (bullish) to red (bearish).
By flipping the gradient, you can reverse this visualization, with red indicating bullish momentum and green signaling bearish conditions.
This feature ensures that the CCI display aligns with your individual trading style, providing a clearer picture of market conditions.
#3: Overbought/Oversold Color Logic
When the CCI crosses into overbought or oversold territory, the color transitions to help you stay on top of extreme market conditions:
Darker Red for overbought levels, helping you recognize when the market may be due for a reversal.
Deeper Green for oversold levels, signaling potential buying opportunities as the market reaches exhaustion.
These color shifts ensure that traders are visually alerted to key moments in the market, helping to avoid buying at the top or selling at the bottom.
Trigger Signals: Detecting Market Manipulation
The trigger signals in Hawk Pro Algo are designed to detect potential market manipulation—moments when artificial price moves occur before a larger trend shift. These signals help protect you from false breakouts or breakdowns.
Buy Triggers: These occur when the indicator detects potential upward manipulation, helping you prepare for a rally after a price dip.
Sell Triggers: Conversely, sell triggers indicate potential downward manipulation, alerting you to a possible sell-off after a price spike.
These signals act as early warnings, helping you avoid getting caught in manipulated price action and positioning you for better trade entries.
Divergence Detection: Pinpointing Reversals with real time Confidence
Hawk Pro Algo excels in divergence detection, identifying both regular and hidden divergences. Divergences occur when price action and the oscillator (CCI) are out of sync, signaling potential reversals.
Bullish Divergence: This occurs when the price is making lower lows, but the CCI is making higher lows. It suggests that downward momentum is weakening, and a reversal could be imminent. In this case, wait for the CCI to turn green to confirm that the bullish divergence is playing out before entering a trade.
Bearish Divergence: This happens when the price is making higher highs, but the CCI is making lower highs, signaling that upward momentum is weakening. Wait for the CCI to turn red to confirm that the bearish divergence is unfolding, and then consider entering a short trade.
By waiting for the CCI color to change (green for bullish divergence, red for bearish divergence), you ensure that the divergence is confirmed before taking action, leading to higher-confidence trades.
How It All Works Together
The combination of CCI color transitions, overbought/oversold detection, smart money signals, and trigger manipulations makes Hawk Pro Algo a comprehensive tool for traders of all skill levels:
Trend Strength: The CCI gradient provides instant visual feedback on the strength of the current trend, helping you gauge when to stay in a trade or prepare for a reversal.
Reversal Signals: The color-coded overbought/oversold signals help you spot key moments when the market may reverse, while divergence detection adds another layer of confidence to your entries.
Smart Money Flow: Follow the institutional money with precision buy/sell signals based on volume and trend strength, ensuring that you're aligned with
Cypher Harmonic Pattern [TradingFinder] Cypher Pattern Detector🔵 Introduction
The Cypher Pattern is one of the most accurate and advanced harmonic patterns, introduced by Darren Oglesbee. The Cypher pattern, utilizing Fibonacci ratios and geometric price analysis, helps traders identify price reversal points with high precision. This pattern consists of five key points (X, A, B, C, and D), each playing an important role in determining entry and exit points in the financial markets.
The reversal point typically occurs in the XD region, with the Fibonacci ratio ranging between 0.768 and 0.886. This zone is referred to as the Potential Reversal Zone (PRZ), where traders anticipate price changes to occur.
The Cypher harmonic pattern is popular among professional traders due to its high accuracy in identifying market trends and reversal points. The pattern appears in two forms: bullish Cypher pattern and bearish Cypher pattern.
In the bullish Cypher pattern, after a price correction, the price moves upward, while in the bearish Cypher pattern, the price moves downward after a temporary increase. These patterns help traders use technical analysis to identify strong reversal points in the PRZ and execute more optimal trades.
Bullish Cypher Pattern :
Bearish Cypher Pattern :
🔵 How to Use
The Cypher pattern is one of the most complex and precise harmonic patterns, leveraging Fibonacci ratios to help traders identify price reversals. This pattern is comprised of five key points, each playing a critical role in determining entry and exit points.
The Cypher pattern appears in two main types :
Bullish Cypher pattern : This pattern appears as an M shape on the chart and indicates a trend reversal to the upside after a price correction. Traders can prepare for buying after identifying this pattern in technical analysis.
Bearish Cypher pattern : This pattern appears as a W shape and signals the start of a downtrend after a temporary price increase. Traders can use this pattern to enter short positions.
🟣 How to Identify the Cypher Pattern on a Chart
Identifying the Cypher pattern requires precision and the use of advanced technical analysis tools. The pattern consists of four main legs, each identified using Fibonacci ratios and geometric analysis.
To spot the Cypher pattern on a chart, first, identify the five key points : X, A, B, C, and D.
XA leg : The initial move from point X to A.
AB leg : The first correction after the XA move, where the price moves to point B.
BC leg : After the correction, the price moves upwards to point C.
CD leg : The final price move that reaches point D, where a price reversal is expected.
In a bullish Cypher pattern, point D indicates the start of a new uptrend, while in a bearish Cypher pattern, point D signals the beginning of a downtrend. Correctly identifying these points helps traders determine the best time to enter a trade.
🟣 How to Trade Using the Cypher Pattern
Once the Cypher pattern is identified on the chart, traders can use it to set entry and exit points. Point D is the key point for trade entry. In the bullish Cypher pattern, the trader can enter a long position after point D forms, while in the bearish Cypher pattern, point D serves as the ideal point for entering a short position.
🟣 Entering a Buy Trade with the Bullish Cypher Pattern
In a bullish Cypher pattern, traders wait for the price to reach point D, after which they can enter a buy position. At this point, the price is expected to start rising.
🟣 Entering a Sell Trade with the Bearish Cypher Pattern
In a bearish Cypher pattern, the trader enters a sell position at point D, expecting the price to move downward after reaching this point. For additional confirmation, traders can use technical indicators such as RSI or MACD.
🟣 Risk Management in Cypher Pattern Trades
Risk management is one of the most critical aspects of any trade, and this holds true for trading the Cypher pattern. Traders should always use stop-loss orders to prevent larger losses in case the pattern fails.
In the bullish Cypher pattern, the stop-loss is usually placed slightly below point D to exit the trade if the price continues to drop.
In the bearish Cypher pattern, the stop-loss is placed above point D to limit losses if the price rises unexpectedly.
🟣 Combining the Cypher Pattern with Other Technical Tools
The Cypher pattern is a powerful tool in technical analysis, but combining it with other methods such as price action and technical indicators can improve trading accuracy.
🟣 Combining with Price Action
Traders can use price action to confirm the Cypher pattern. Candlestick patterns like reversal candlesticks can provide additional confirmation for price reversals at point D.
🟣 Using Technical Indicators
Incorporating technical indicators such as RSI and MACD can also help traders receive stronger signals for entering trades based on the Cypher pattern. These indicators help identify overbought or oversold conditions, allowing traders to make more informed decisions.
🟣 Advantages and Disadvantages of the Cypher Pattern in Technical Analysis
Advantages :
High accuracy : The Cypher pattern, using Fibonacci ratios and geometric analysis, provides high precision in identifying reversal points.
Applicable in various markets : This pattern can be used in a wide range of financial markets, including forex, stocks, and cryptocurrencies.
Disadvantages :
Rarit y: The Cypher pattern appears less frequently on charts compared to other harmonic patterns.
Complexity : Accurately identifying this pattern requires significant experience, which may be challenging for novice traders.
🔵 Setting
🟣 Logical Setting
ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition.
Show Valid Forma t: If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern.
Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk.
Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period.
🟣 Genaral Setting
Show : Enter "On" to display the template and "Off" to not display the template.
Color : Enter the desired color to draw the pattern in this parameter.
LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness.
LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries.
🟣 Alert Setting
Alert : On / Off
Message Frequency : This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone : The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
🔵 Conclusion
The Cypher harmonic pattern is one of the most powerful and accurate patterns used in technical analysis. Its high precision in identifying price reversal points, particularly within the Potential Reversal Zone (PRZ), has made it a popular tool among professional traders. The PRZ, located between the Fibonacci ratios of 0.768 and 0.886 in the XD region, offers traders a clear indication of where price reversals are likely to occur.
However, to use this pattern successfully, traders must employ proper risk management and combine it with supplementary tools like technical indicators and price action. By understanding how to utilize the PRZ, traders can enhance the accuracy of their trade entries and exits.
Ultimately, the Cypher pattern, when used in conjunction with the PRZ, helps traders make more precise decisions in the financial markets, leading to more successful and well-informed trades.
M & W Checklistindicator to Validate & Grade M & W Patterns.
Indicator Inputs
Table Color Palette
• Position Valid : Positions the Valid Trade table on the chart.
• Position Grade : Positions the Grade table on the chart, hover over the Column 1 Row 1 for a description of the bands.
• Size: Text size for all tables.
• Text Color : Sets text color.
• Border Color : Sets the table border color for all tables.
• Background Color : Sets table backgroud color for all tables.
Valid Trade Table
Checkboxes to indicate if the trade is valid. Fail is displayed if unchecked, Pass if checked.
Grade Table
• S/R Level 1: distance between neckline and 1st resistance area in % of the total distance between neckline and take profit. This is not for road blocks but pivot points etc before the initial run up/down in price. I have this set to 30% , this means that if there is a pivot point between the neckline and 30% of the TP level I weight it negatively.
• S/R Level 2: distance between neckline and 1st resistance area in % of the total distance between neckline and take profit. This is not for road blocks but pivot points etc before the initial run up/down in price. I have this set to 50% , this means that if there is a pivot point between the neckline and 50% of the TP level 2 weight it negatively but less so than level 1.
• S/R Level 3: distance between neckline and 1st resistance area in % of the total distance between neckline and take profit. This is not for road blocks but pivot points etc before the initial run up/down in price. I have this set to 70% , this means that if there is a pivot point between the neckline and 70% of the TP level 3 weight it negatively but less so than level 1 & level 2.
• Checkboxes are self explanatory, they are binary options, all are weighted negatively if checked and are weighted positively if unchecked. Divergence values for weighting are neutral if unckecked & weighted positively if checked.
• The select options are neutral weighting if set to neutral , if set to For its weighted positive and set to Against weighted negatively.
Technical Specification of the Scoring and Band System
Overview
The scoring system is designed to evaluate a set of technical trade conditions, assigning weights to various criteria that influence the quality of the trade. The system calculates a total score based on both positive and negative conditions. Based on the final score, the system assigns a grade or band (A, B, or C) for positive scores, and a "Negative" label for negative scores.
Scoring System
The system calculates the score by evaluating a set of 12 conditions (gradeCondition1 to gradeCondition12). These conditions are manually input by the user via checkboxes or dropdowns in a technical indicator (written in Pine Script for TradingView). The score weights vary according to the relative importance of each condition.
Condition Breakdown and Weighting:
1. Divergences (GradeCondition1 & GradeCondition2):
◦ 1H Divergence: +5 points if condition is true.
◦ 4H Divergence: +10 points if condition is true (stronger weight than 1H).
2. Support/Resistance at Neckline (GradeCondition3):
◦ Negative if present: -15 points if true (carries significant negative weight).
3. RB near Entry (GradeCondition4):
◦ Very Negative: -20 points if true (this is a critical negative condition).
4. RB can Manage (GradeCondition5):
◦ Slightly Negative: -5 points if true.
5. Institutional Value Zones (GradeCondition6 to GradeCondition8):
◦ For the trade: +5 points.
◦ Against the trade: -5 points.
◦ Neutral: 0 points.
6. S/R between Neckline & Targets (GradeCondition9 to GradeCondition11):
◦ Level 1: -10 points if true, +7 points if false.
◦ Level 2: -7 points if true, +7 points if false.
◦ Level 3: -5 points if true, +7 points if false.
◦ Use fib tool or Gann Box to measure any S/R levels setup according to your preferences.
7. News Timing (GradeCondition12):
◦ News within 3 hours: -20 points if true (strong negative factor).
◦ No upcoming news: +10 points if false.
Scoring Calculation Formula:
totalScore = score1 + score2 + score3 + score4 + score5 + score6 + score7 + score8 + score9 + score10 + score11 + score12
Where:
• score1 to score12 represent the points derived from the conditions described above.
Coloring and Visual Feedback:
• Positive Scores: Displayed in green.
• Negative Scores: Displayed in red.
Band System
The Band System classifies the total score into different grades, depending on the final value of totalScore. This classification provides an intuitive ranking for trades, helping users quickly assess trade quality.
Band Classification:
• Band A: If the totalScore is 41 or more.
◦ Represents a highly favorable trade setup.
• Band B: If the totalScore is between 21 and 40.
◦ Represents a favorable trade setup with good potential.
• Band C: If the totalScore is between 1 and 20.
◦ Represents a trade setup that is acceptable but may have risks.
• Negative: If the totalScore is 0 or less.
◦ Represents a poor trade setup with significant risks or unfavorable conditions.
Band Calculation Logic (in Pine Script):
var string grade = ""
if (totalScore >= 41)
grade := "Band A"
else if (totalScore >= 21)
grade := "Band B"
else if (totalScore >= 1)
grade := "Band C"
else
grade := "Negative"
Technical Key Points:
• Highly Negative Conditions:
◦ The system penalizes certain conditions more heavily, especially those that suggest significant risks (e.g., News in less than 3 hours, RB near Entry).
• Positive Trade Conditions:
◦ Divergences, Institutional Value Zones in favor of the trade, and lack of significant nearby resistance all contribute positively to the score.
• Flexible System:
◦ The system can be adapted or fine-tuned by adjusting the weights of individual conditions according to trading preferences.
Use Case Example:
• If a trade has 1H and 4H Divergence, RB near Entry (negative), and no upcoming news:
◦ 1H Divergence: +5 points.
◦ 4H Divergence: +10 points.
◦ RB near Entry: -20 points.
◦ No news: +10 points.
◦ Total Score: 5 + 10 - 20 + 10 = 5 → Band C.
This modular and flexible scoring system allows traders to systematically evaluate trades and quickly gauge the trade's potential based on technical indicators
Summary:
Maximum Score: 61
Minimum Score: -97
These are the bounds of the score range based on the current logic of the script.
Morning & Evening Star Pro (Candle Pattern)Hello Traders!
The Morning & Evening Star Pro indicator often catches the absolute top or bottom of a move and is a reliable reversal indicator. It also provides excellent entries in a strong trending market. For example, in an uptrend you can use a morning star as a pullback entry signal.
The indicator is an advanced tool for identifying powerful reversal patterns in the market. It combines traditional candlestick analysis with modern technical indicators to provide traders with high-probability entry and exit signals.
Key features:
Accurate pattern detection:
Utilizes sophisticated algorithms to identify genuine Morning Star and Evening Star patterns, filtering out false signals.
Trend filter:
Incorporates a customizable Simple Moving Average (SMA) to align signals with the overall market trend, enhancing trade quality.
Volatility awareness:
Integrates Average True Range (ATR) calculations to ensure detected patterns are significant relative to recent price action.
Visual clarity:
Highlights Morning Star and Evening Star patterns with customizable colors and shapes, making them easy to spot on the chart.
Flexible customization:
Offers a wide range of user inputs to tailor the indicator to various trading styles and preferences.
Filtered signal display:
Option to show filtered-out signals, providing insight into the indicator's decision-making process.
Morning Star
Is a bearish reversal (or continuation) pattern consisting of three candles:
A large bearish candle
A small-bodied candle like a Doji or Pin bar
A bullish candle
Evening Star
Is a bullish reversal (or continuation) pattern consisting of three candles:
A large bullish candle
A small-bodied candle like a Doji or Pin bar
A bearish candle
Key differences in this implementation
The middle candle can be either a Doji or a Pin bar, expanding the traditional definition.
The second candle can be a Pin bar, and the third candle can be an outside bar reversal, allowing for more flexibility in pattern recognition.
What makes this indicator unique
Comprehensive pattern analysis:
Goes beyond simple price action by considering multiple factors such as candle body ratios, wick lengths, and relative positions to previous candles.
Adaptive to market conditions:
Uses dynamic thresholds based on recent volatility (ATR) to adjust pattern detection criteria.
Educational value:
The option to display filtered signals helps traders understand why some patterns are rejected, aiding in skill development.
How to Trade with this Indicator:
This indicator often catches the absolute top or bottom of a move and is a reliable reversal indicator. It also provides excellent entries in a trending market. For example, in a strong uptrend you can use morning star signals to enter in a pullback.
Bullish Opportunities:
Look for Morning Star patterns (aqua-colored candles and labels) as potential buy signals.
Bearish Opportunities:
Watch for Evening Star patterns (orange-colored candles and labels) as potential sell signals.
Entry: At next bar open (after the aqua-colored candle for bullish or orange-colored candle for bearish completes)
Stop loss: 2 ticks below/above the pattern's low/high.
Stop loss alternative: If the colored candle is a very strong candle (e.g. for morning star a candle with almost no down wick and a close near the top) the stop goes 2 ticks below/above the colored candle.
Take profit: 3R or use a trailing stop.
Trend Alignment:
For conservative trading, only take trades in the direction of the overall trend as indicated by the SMA.
Note: if you want to see candle coloring of the morning and evening star, you must put the indicator to the top of the object tree.
TrendScope:TrendScope Indicator Description with First-Time User Tutorial
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Overview:
The TrendScope indicator is designed to give traders a comprehensive view of the market by combining multiple filter sets that analyze different aspects of price action. The filter sets allow you to switch between different views effortlessly and avoid indicator clutter. Whether you're scalping, swing trading, or identifying breakout opportunities, TrendScope helps you make informed decisions by assessing momentum, volatility, trade timing, and trend direction. It also includes a scalp setup you can use to execute trades and manage risk.
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TrendScope Filter Sets with First-Time User Setup & Tutorial
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Filter Set A: Short-Term Momentum
Goal:
This filter focuses on the immediate market sentiment without any additional indicators. It reveals where retail traders might enter the market, potentially highlighting areas where they could be stopped out. The goal is to identify these weak spots and anticipate likely price movements that could follow.
No Additional Indicators Required:
This filter set uses moving averages (SMA 20, SMA 50, SMA 100) to determine the short-term trend.
Tutorial:
- To Confirm an Uptrend: Ensure all moving averages are aligned in sequence: SMA 20 above SMA 50, and SMA 50 above SMA 100, all trending upwards.
Action: Consider going long using the scalper in Filter Set D.
- To Confirm a Downtrend: Ensure all moving averages are aligned in sequence: SMA 20 below SMA 50, and SMA 50 below SMA 100, all trending downwards.
Action: Consider going short using the scalper in Filter Set D.
- To Confirm Consolidation: If the moving averages are not aligned or are intertwined, the market is either about to or already trending sideways. The market is in a consolidation phase.
Action: Switch to Filter Set C for further analysis.
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Filter Set B: Long-Term Momentum
Goal:
Similar to the short-term filter, but with a broader perspective. It helps in understanding the bigger picture, providing insights into longer-term trends and potential reversals for swing trade entries.
No Additional Indicators Required:
This filter set uses moving averages (SMA 20, SMA 100, SMA 200) to determine the long-term trend.
Tutorial:
- To Confirm an Uptrend: Ensure all moving averages are aligned in sequence: SMA 20 above SMA 100, and SMA 100 above SMA 200, all trending upwards.
Action: Consider going long using the scalper in Filter Set D.
- To Confirm a Downtrend: Ensure all moving averages are aligned in sequence: SMA 20 below SMA 100, and SMA 100 below SMA 200, all trending downwards.
Action: Consider going short using the scalper in Filter Set D.
- To Confirm Consolidation: If the moving averages are not aligned or are intertwined, the market is either about to or already trending sideways. The market is in a consolidation phase.
Action: Switch to Filter Set C for further analysis.
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Filter Set C: Trading Range
This filter uses Bollinger Bands, Volume, and Volume-Weighted Relative Volume Profile (VRVP) to identify trading ranges and predict breakouts and trade timing. In short, when Bollinger Bands contract and volume is below average, the VRVP highlights low-volume areas that can serve as breakout targets, offering a timing edge.
Goal:
Anticipate breakouts in a sideways market.
Additional Indicators Required:
- VRVP: For visualizing volume at specific price levels.
- Volume Indicator: With a 100-period moving average for anticipating low market participation.
Tutorial:
1. Setup Screen: Zoom out to see the entire consolidation phase.
2. Identify Support & Resistance:
- Use VRVP to determine VAH (upper range) and VAL (lower range) support or resistance levels.
- Identify the POC (Point of Control) as the area with the highest support or resistance.
3. Wait for Setup:
- Wait for Bollinger Bands to contract and volume to dip below the average.
- Go short if the price is at VAH, go long if the price is at VAL.
4. Action: Switch to Filter Set D for precise entry, target, and risk management.
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Filter Set D: Scalper
After determining the market condition using the previous filter sets, you can use this filter set to hunt for trades. Designed for use with Heikin Ashi candles, this filter allows you to enter when there’s high momentum and provides a trailing stop along the way.
Goal:
Execute trades in harmony with the established trend.
Setup Rules:
1. Condition 1: You know the current trend direction as per filter set guidance (A, B, & C), and the trend is up, and you are going long.
2. Condition 2: Wait for the price to close 3 consecutive flat-bottom Heikin Ashi candles above the 7 MA. Then Enter on the open of the fourth Candle.
3. Condition 3: The 3x candles have to be above the 7 MA (red line), and the 7 MA has to be above the 50 EMA (yellow line).
Trade Management:
Use the 50 EMA (Yellow Line) as a trailing stop and hold the position until a candle opens and closes below the 7 SMA (Red Line).
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Additional Filter Sets
These filter sets are designed to accommodate various trading strategies, allowing for flexibility depending on the trader's approach.
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Filter Set E: VWAP
When using the VWAP filter, load the On-Balance Volume (OBV) indicator to complement your analysis. This combination can help confirm volume trends and potential price movements.
Tips:
Look for instances where the VWAP aligns with OBV divergences to confirm or negate potential trade setups.
Tutorial:
- Complement with OBV: Look for volume confirmations.
- Usage: Switch the candles to a line chart. Wait for both the line to close above the VWAP and OBV above the Smoothing Line. Then, switch to Filter Set D and hunt for a long entry as per the strategy. Do the opposite for hunting short entries.
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Filter Set F: Super Trend
This filter is most effective when paired with the Ichimoku Cloud (using custom settings) along with the MACD and ADX indicators.
Goal:
Gauge trend strength, momentum, and support and resistance levels.
Tutorial:
- Load Ichimoku, MACD, and ADX: To gauge trend strength and momentum.
- Usage Tips:
I use the cloud to look for long periods where the clouds print horizontal levels and use them for support and resistance levels. Alternatively, use the ADX. When the price breaks up through the super trend downtrend line and retraces back to the top of the Ichimoku cloud, switch to Filter Set D and hunt for a long scalp entry. For a short entry, wait for the price to break through the Up Trend Line and retrace back up to the cloud. Then, switch to Filter Set D and use the setup to hunt for a short.
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Filter Set G: Keltner Channels
Combine this filter with Donchian Channels and the Average True Range (ATR) for enhanced volatility analysis. This filter set works similarly to Filter Set C.
Goal:
Measure volatility and predict breakouts.
Tutorial:
- Load Donchian Channels or ATR: To measure volatility and breakouts.
- Usage Tips:
Look for the price to fall through the Keltner lower line and the ATR making a higher low. Then, use the scalper for entries, with Donchian boundaries as take-profit estimates.
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Filter Set H: Pivot Points
This filter works with the RSI to spot divergences that could signal a trend change or reversal.
Goal:
Identify divergences and trend reversals.
Tutorial:
- Load RSI: For identifying divergences.
- Usage Tips:
Use RSI in conjunction with pivot points to identify divergences. Then, switch to Filter Set D and use the scalper to hunt for swing entries in the divergence direction.
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Filter Set I: Opening Range Breakout
This filter uses the Seasonality indicator to gauge investor sentiment and prediction sentiment.
Goal:
Assess market sentiment and predict breakout directions.
Tutorial:
- Load Seasonality Indicator: To assess market sentiment.
- Usage Tips:
Use seasonal trends to gauge potential breakout directions. Use on the daily timeframe only. Risk on investment zones are when the price is close to the ORB low level. Realize investment profit when the price is nearing the ORB high level, considering that there has to be divergence as determined using Filter Set H.
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By following this structured approach, traders can learn to navigate different market conditions, using TrendScope to make informed decisions based on a comprehensive analysis of momentum, trend, and volatility. The goal is to go through all the filter sets and combine them with the scalp setup in Filter Set D, using the additional filters to adapt to various strategies and market conditions.
Super IndicatorOverview of the Combined Indicator
This combined indicator leverages three major technical analysis tools:
Bollinger Bands
Linear Regression Channels
Scalping Strategy Indicators (RSI, MACD, SMA)
Each of these tools provides unique insights into market conditions, and their integration offers a comprehensive view of price movements, trends, and potential trading signals.
1. Bollinger Bands
Purpose:
Bollinger Bands are used to measure market volatility and identify overbought or oversold conditions.
Components:
Basis (Middle Band): Typically a 20-period Simple Moving Average (SMA).
Upper Band: Basis + (2 * Standard Deviation).
Lower Band: Basis - (2 * Standard Deviation).
Why They Complement:
Bollinger Bands expand and contract based on market volatility. When the bands are narrow, it indicates low volatility and potential for a significant move. Wide bands indicate high volatility. This helps traders gauge the strength of market moves and potential reversals.
2. Linear Regression Channels
Purpose:
Linear Regression Channels identify the overall trend direction and measure deviation from the mean price over a specific period.
Components:
Middle Line (Linear Regression Line): The line of best fit through the price data over a specified period.
Upper and Lower Lines: Channels created by adding/subtracting a multiple of the standard deviation or another deviation measure from the regression line.
Why They Complement:
Linear Regression Channels provide a clear visual representation of the trend direction and the range within which prices typically fluctuate. This can help traders identify trend continuations and reversals, making it easier to spot entry and exit points.
3. Scalping Strategy Indicators
Purpose:
The RSI, MACD, and SMA are used to generate short-term buy and sell signals, which are essential for scalping strategies aimed at capturing quick profits from small price movements.
Components:
RSI (Relative Strength Index): Measures the speed and change of price movements, typically over 14 periods. It helps identify overbought and oversold conditions.
MACD (Moving Average Convergence Divergence): Consists of the MACD line, Signal line, and histogram. It helps identify changes in the strength, direction, momentum, and duration of a trend.
SMA (Simple Moving Average): The average price over a specified period, used to smooth out price data and identify trends.
Why They Complement:
These indicators provide short-term signals that can confirm or refute the signals given by Bollinger Bands and Linear Regression Channels. For example, a buy signal might be more reliable if the price is near the lower Bollinger Band and the MACD crosses above its signal line.
How They Work Together
Scenario 1: Confirming Trend Continuations
Bollinger Bands: Price staying near the upper band suggests a strong uptrend.
Linear Regression Channels: Price staying above the middle line confirms the uptrend.
5-Minute Scalping Strategy: RSI not in overbought territory, and MACD showing bullish momentum confirms continuation.
Scenario 2: Identifying Reversals
Bollinger Bands: Price touching or moving outside the lower band suggests oversold conditions.
Linear Regression Channels: Price at the lower channel line indicates potential support.
5-Minute Scalping Strategy: RSI in oversold territory, and MACD showing a bullish crossover indicates a reversal.
Scenario 3: Volatility Breakouts
Bollinger Bands: Bands contracting indicates low volatility and potential breakout.
Linear Regression Channels: Price moving away from the middle line signals potential breakout direction.
Scalping Strategy: MACD and RSI confirming the breakout direction for entry.
Input Parameters:
Define settings for Bollinger Bands, Linear Regression Channels, and the scalping strategy.
Allow users to customize lengths, multipliers, and colors.
Bollinger Bands Calculation:
Calculate the basis (SMA) and standard deviation.
Derive the upper and lower bands from the basis and standard deviation.
Linear Regression Channel Calculation:
Compute the slope, average, and intercept of the linear regression line.
Calculate deviations to plot upper and lower channel lines.
5-Minute Scalping Strategy:
Calculate RSI, MACD, and SMA for short-term trend analysis.
Define buy and sell conditions based on these indicators.
Plotting and Alerts:
Plot Bollinger Bands and Linear Regression Channels on the chart.
Plot buy and sell signals with shapes.
Set alerts for key conditions like exiting the regression channel bounds and trend switches.
Conclusion
By combining Bollinger Bands, Linear Regression Channels, and a 5-minute scalping strategy, this indicator offers a robust tool for traders. Bollinger Bands provide volatility insights, Linear Regression Channels highlight trend direction and potential reversals, and the scalping strategy offers precise entry and exit points. Together, these tools can enhance a trader's ability to make informed decisions in various market conditions.
ACD Indicator [TradingFinder] M Fisher Pivots Methodology Signal🔵 Introduction
The book "The Logical Trader" begins with a comprehensive review of the ACD Methodology principles, which include identifying specific price points related to the opening range.
This method allows you to set reference points for trading and use points "A" and "C" for trade entry. You will also learn about the "Pivot Range" and how to combine them with the ACD method to maximize position size and minimize risk.
In this indicator, the strategy is implemented to make it easier to use.
🔵 How to Use
The "ACD" strategy can be applied to various markets such as stocks, commodities, or forex, providing buy and sell signals that allow you to set your price targets and stop losses.
This strategy is based on the assumption that the opening range of trades is statistically significant each day, meaning the initial market fluctuations influence the market until the end of the day.
The ACD trading strategy is known as a breakout strategy and performs best in volatile or strongly trending markets, such as crude oil and stocks.
Some of the rules for using the ACD strategy include the following :
Consider points A and C as reference points and continuously pay attention to these points during trades. These points serve as entry and exit points for trades.
Examine daily and multi-day pivot ranges to analyze market trends. If the price is above the pivots, the trend is upward, and if below the pivots, the trend is downward.
Trading with the ACD strategy in forex is possible using the ACD indicator. This indicator is a technical tool used to measure the balance between supply and demand in the market. By analyzing trading volume and price, this indicator helps traders identify trend strength and suitable entry and exit points.
To use the ACD indicator, consider the following :
Identifying strong trends: The ACD indicator can help you identify strong and stable trends in the market.
Determining entry and exit points: ACD provides buy and sell signals to enter or exit trades at the best possible time.
Bullish Setup :
When the "A up" line is broken, it is advisable to wait for some time to ensure that this is not a "Fake Breakout" and that the price stabilizes above this line.
After entering the trade, the best stop loss you can choose is below the "A down" line. However, it is recommended to test this in backtests to achieve the best results. The suitable reward-to-risk ratio for this strategy is 1, which should also be backtested.
Bearish Setup :
When the "A down" line is broken, it is advisable to wait for some time to ensure that this is not a "Fake Breakout" and that the price stabilizes below this line.
After entering the trade, the best stop loss you can choose is above the "A up" line. However, it is recommended to test this in backtests to achieve the best results. The suitable reward-to-risk ratio for this strategy is 1, which should also be backtested.
🔵 Setting
NDay Pivot Range Period : Using this entry you can specify the number of days to calculate NDay Pivot Range.
Show Daily Pivot Range : Set the Daily Pivot color and displayed or not.
Show NDay Pivot Range : Set the NDay Pivot color and displayed or not.
ATR Period Levels : Determining the period of the ATR indicator, which is used to determine the A and C levels.
Show Tokyo ACD Setup : Set the Tokyo ACD Setup color and displayed or not.
Tokyo Opening Range Time : The amount of time taken to determine the opening range. You can set this number between 5 and 60 minutes.
Tokyo Session : Market start and end time.
A Level Multiplier : The coefficient that is multiplied by ATR to determine the distance of line A up and A down.
C Level Multiplier : The coefficient that is multiplied by ATR to determine the distance of line C up and C down.
The same settings exist for the London and New York sessions.
SMC Community [algoat] — Smart Money ConceptsEmpower your trading with the core principles of the Smart Money Concepts through interactive features and highly customizable settings.
The indicator's strength lies in the unique SMC Core algorithm, a calculation based on real price action data, capturing every tick from small intraday fluctuations to significant high timeframe movements.
algoat SMC Core is our continually evolving, specialized structure mapping algorithm, serving as the backbone of our price action related publications.
⭐ Key Features
Swing Market Structure: Change of Character, Break of Structure
Recognize and visualize real-time market structures with swing elements. Identify and mark key structural changes in the market to visually highlight shifts in market trends and patterns. This feature is designed to alert you to significant changes in the market's behavior, signaling a potential shift from accumulation to distribution phases, or vice versa. It helps traders adapt their strategies based on evolving market dynamics.
Order Flow: Structure Fractal
Connect the successive structural high and low levels, visualizing the intricate flow of market movements. This feature highlights fractal structures within the market, enabling traders to detect significant price action patterns.
Structure Range: Determine Discount, Premium, and Equilibrium Zones
This feature provides a unique way of visualizing price areas where a security could be overbought or oversold (premium or discount zones) and where the price is expected to be fair and balanced (equilibrium zone). Distance from the current price is displayed in percentage terms, which can assist traders with crucial data for risk management and strategic planning. The Range function helps you identify the most favorable price zones for entries and set your stop-loss and take-profit levels more accurately.
Liquidity Grabs: Reveal Hidden Manipulation Attempts
Identify uncovered market areas where high liquidity trading may take place. Liquidity Grabs help track "smart money" footprints by identifying levels where large institutional traders may have induced liquidity traps. Understanding these traps can aid in avoiding false market moves and optimizing trade entries.
Institutional Interest Zones: Order Blocks and Fair Value Gaps
Uncover areas where bigger orders may be lined up. Reveal zones of interest ordered by volume strength. Receive warnings about market price imbalances.
▸ Order Blocks pinpoint crucial zones where large institutional investors ("smart money") have shown strong buying or selling interest recently. These blocks can serve as a tool for identifying key areas for potential trade entries or exits.
▸ Fair Value Gaps detect discrepancies between the perceived market value and the actual market price, revealing potential areas for price correction. With its mitigation settings, you can fine-tune the FVG detection according to the magnitude of value misalignment you consider significant.
Mitigation types dictate how price interacts with a zone, with order blocks requiring a close through (indicating stronger price movement) and fair value gaps requiring a wick through (hinting at weak rejection).
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⭐ Why SMC?
In the ever-evolving trading landscape, mainstream methods and strategies can quickly become outdated as they are widely adopted. Liquidity is constantly sought after, and the best source for this is exploring and exploiting trading strategies that are widely accepted and applied. Currently, one of these strategies is the SMC (Supply, Demand, and Price Action).
It's no coincidence that our educational materials incorporate concepts such as liquidity grabs (LG) and Smart Money Traps (SMT). As the application of SMC gains popularity among retail traders, trading with this approach becomes more challenging. Therefore, the recent focus has been on reforming the SMC methodology, as it is the only method that relies on real price movements and will always work when applied correctly.
The indicator reflects our personal use and deep comprehension of Smart Money Concepts. It provides streamlined tools for tracking algorithmic trends with modern visualizations, without unnecessary clutter.
▸ What does the proper application of SMC entail?
Many SMC traders associate their key areas of interest with the market structure, which is generally considered acceptable. However, depending solely on a single foundation can lead to significant deviations, which may cause notable impacts on trading results. Moreover, if the basis for the market structure calculation is inaccurate, the consequences can be even more severe. It's akin to risking money on a lottery ticket, believing it will be a winner.
Our methodology is different, and it may ensure longevity in the financial markets. The structure remains crucial, but it is not the sole foundation of everything; instead, it serves as a validation tool. Each calculation, such as order blocks (OB), Fair Value Gaps (FVG), liquidity grabs (LG), range analysis, and more, is independent and unique, separate from the structure. However, validation must ultimately come from the structure itself.
We employ individual and high-quality filters: before a function calculation is validated by the structure, it must undergo rigorous testing based on its own set of validation conditions. This approach aims to enhance robustness and accuracy, providing traders with a reliable framework for making informed trading decisions.
▸ An example of structure validation: Order Block with "Swing Sensitivity"
These order blocks will only be displayed and utilized by the script if there is a swing structure validation with a valid break. In other words, the presence of a confirmed swing Change of Character (ChoCh) or Break of Structure (BoS) is essential for the Order Block to be considered valid and relevant.
This approach ensures that the order blocks are aligned with the overall market structure and are not based on isolated or unreliable price movements. Whether it's Fair Value Gaps (FVG), Liquidity Grabs (LG), Range calculations, or other functionalities, the same underlying principle holds true. The background structure calculation serves as a validation mechanism for the data and insights generated by these functions, ensuring they adhere to the specific criteria and rules established within our methodology. By incorporating this robust validation process, traders can have confidence in the reliability and accuracy of the information provided by the indicator, allowing them to make informed trading decisions based on validated data and analysis.
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👉 Usage - the general approach
Determine your trading style and build your basic strategy:
The indicator helps you understand your trading style, whether it's swing trading, scalping or another approach. By analyzing the SMC indicator, you gain valuable information about potential market trends, entry and exit points, and overall market sentiment.
Steps:
Identify Trading Style: Determine whether you are a swing trader, scalper, or long-term investor. This will influence how you use the indicator.
Analyze Market Trends: Use the SMC indicator to observe market trends and identify potential entry and exit points.
Adapt Strategies: Adjust your strategies based on the market dynamics revealed by the SMC indicator, such as changes in order flow or market structure.
👉 Example of usage
In the following chart, you'll notice how we've utilized the indicator to formulate a strategic trading approach. We've employed Order Blocks equipped with volume parameters to identify crucial market zones. Simultaneously, we've leveraged swing/internal market structures to gain insights into potential long- and short-term market turnarounds. Lastly, we've examined trend line liquidity zones to pinpoint probable impulses and breakouts within ongoing trends.
Now we can see how the price descended to the order block with the highest volume, which we had previously marked as our point of interest for an entry. As the price closed below the median Order Block, we noted its mitigation. After an internal CHoCH, it's directing us towards the main Order Block as a target.
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🧠 General advice
Trading effectively requires a range of techniques, experience, and expertise. From technical analysis to market fundamentals, traders must navigate multiple factors, including market sentiment and economic conditions. However, traders often find themselves overwhelmed by market noise, making it challenging to filter out distractions and make informed decisions. By integrating multiple analytical approaches, traders can tailor their strategies to fit their unique trading styles and objectives.
Confirming signals with other indicators
As with all technical indicators, it is important to confirm potential signals with other analytical tools, such as support and resistance levels, as well as indicators like RSI, MACD, and volume. This helps increase the probability of a successful trade.
Use proper risk management
When using this or any other indicator, it is crucial to have proper risk management in place. Consider implementing stop-loss levels and thoughtful position sizing.
Combining with other technical indicators
Integrate this indicator with other technical indicators to develop a comprehensive trading strategy and provide additional confirmation.
Conduct Thorough Research and Backtesting
Ensure a solid understanding of the indicator and its behavior through thorough research and backtesting before making trading decisions. Consider incorporating fundamental analysis and market sentiment into your trading approach.
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⭐ Conclusion
We hold the view that the true path to success is the synergy between the trader and the tool, contrary to the common belief that the tool itself is the sole determinant of profitability. The actual scenario is more nuanced than such an oversimplification. A word to the wise is enough: developed by traders, for traders — pioneering innovations for the modern era.
Risk Notice
Everything provided by algoat — from scripts, tools, and articles to educational materials — is intended solely for educational and informational purposes. Past performance does not assure future returns.
Trend Bars Pro (HTF PO3)Hello Traders!
The innovative TRN Trend Bars Pro are designed to help traders to analyze markets in an intuitive way and provide high probability entry and exit signals. It combines three core concepts:
TRN Trend Bars to see the current trend and reversals (replaces the default chart bars)
Bar Ranges to highlight consolidations
Dynamic Trend to see the overall trend.
First, let's have a look at each of these concepts individually. Afterwards, we describe how a combination of all three gives you a crystal-clear picture of the market.
TRN Trend Bars Pro
They show bullish and bearish trends and reversals based on color coding the bars and give high probability trade opportunities with special colors. The trend analysis is based on a new algorithm that includes several different inputs:
classical and advanced bar patterns and their statistical frequency
probability distributions of price expansions after certain bar patterns
bar information such as wick length in %, overlapping of the previous bar in % and many more
historical trend and consolidation analysis
The algorithm weighs these concepts and outputs a color scheme for the chart bars or candlesticks.
Bar Types
Trend bars in green and red
Reversal Bars in blue and fuchsia
Continuation Bars in turquoise and orange
Breakout Bars in dark green and pink
Green Bars signify a sustained uptrend, indicating bullish market sentiment. On the other hand, Red Bars indicate a persistent downtrend, representing bearish market sentiment. The transition from red to green denotes a bullish trend reversal, suggesting a shift from bearish to bullish sentiment. Conversely, the shift from green to red signals a bearish trend reversal, indicating a transition from bullish to bearish sentiment. By monitoring these color changes, traders can identify potential trend reversals and make informed trading decisions.
The presence of gray and black bars indicates a neutral market state, often observed before an impending color change from red to green or green to red. These neutral bars serve as a transition phase between the previous trend and the potential reversal.
The TRN Trend Bars Pro incorporate signal bars, distinguished by their distinct colors, to offer potential buy and sell signals and deeper insights into market dynamics.
Reversal Bars
The presence of blue Reversal Bars indicates a trend reversal to the upside, while pink Reversal Bars indicate a reversal to the downside. These bars not only serve as signals for potential trend shifts but also present favorable opportunities to enter the market or increase one's position size.
Continuation Bars
In addition to the reversal bars, the indicator also includes bullish continuation bars (colored turquoise) and bearish continuation bars (colored orange). These bars act as signals for the continuation of an existing trend. Like the reversal bars, they can be utilized as entry points or opportunities to augment one's position size.
Breakout Bars
The dark green breakout bars within TRN Trend Bars Pro show a powerful breakout from a price range detected by our integrated bar range feature. They signify the continuation or potential change in a trend following a consolidation phase. As such, these bars hold dual functionality, serving as reversal signals and validating the persistence of an ongoing trend.
Bar Ranges
The bar range feature automatically finds consolidations where the price range of several consecutives bars is rather small. The detection of the bar ranges includes among other things the overlapping percentage of these bars.
How to Use Price Ranges
Here are a few ways you can use the bar ranges in your trading:
Identify Support and Resistance Levels
The price ranges can help you identify key support and resistance levels on a chart. By observing price ranges and identifying these levels, you can make more informed decisions about entering or exiting trades.
Breakout Trading
Price ranges can also provide insights into potential breakout opportunities. Breakouts occur when the price breaks out of a defined range, signaling a potential shift in market sentiment and the start of a new trend. The Color highlighted Breakout Bars from the TRN Trend Bars Pro are signaling a powerful breakout of a price range. Traders can enter positions in the direction of the breakout and set appropriate stop-loss orders to manage risk. Note that not every price range is left by a powerful breakout.
Dynamic Trend
The Dynamic Trend combines elements from standard trend strength indicators (e.g. DI-, DI+, Parabolic SAR) and volatility indicators (e.g. ATR, Standard Deviation). It produces a moving average line that adapts to changing market volatility. It is inspired by the ideas of the programmer and trader Fat Tails. The adaptive behavior provides more relevant information for traders when compared to traditional moving averages which do not consider volatility and trend strength together. This makes the Dynamic Trend completely unique, and no other moving average indicator can give you this precision.
How to use Dynamic Trend
Generally, a rising Dynamic Trend line, displayed in green, indicates that an uptrend is strong, while a falling Dynamic Trend, displayed in red, suggests that the downtrend is sharp. The Dynamic Trend turns gray when there is insufficient clarity to establish a distinct trend and especially when there is not volatility in the market.
Identify potential trade entries and exits: When used in conjunction with price action, the Dynamic Trend can provide potential trade signals. For example, if the price crosses above the Dynamic Trend, it may be a bullish sign, suggesting a potential buy entry. Conversely, if the price crosses below the Dynamic Trend, it may indicate bearish conditions and a potential sell signal.
Trend Identification and Pullback trading
Observe the Dynamic Trend's color. When it's on the rise and appears green, it indicates a bullish trend. Conversely, if it's in decline and displayed in red, it signals a bearish trend.
If Dynamic Trend is green and price pulls from above back to the Dynamic Trend, then this can be considered as a bullish signal.
If Dynamic Trend is red and price pulls from below back to the Dynamic Trend, then this can be considered as a bearish signal.
In the event of a bearish signal, such as a bearish TRN Signal Bar, and the Dynamic Trend is red, it provides additional confirmation to the bearish signal. Likewise, bullish signals gain added conviction when the Dynamic Trend is green.
Crossovers
As with other moving averages, crossovers between the Dynamic Trend and the price can be significant.
If price is crossing above the Dynamic Trend, then this can be considered as a bullish signal.
If price is crossing below the Dynamic Trend, then this can be considered as a bearish signal.
If you currently hold a position, both bullish and bearish crossovers can serve as potential exit signals. For instance, in the case of a long position, a bearish crossover can indicate a potential shift in sentiment, signaling a bearish reversal and a potential opportunity to close your long position.
Filtering Noise
Due to its adaptive nature, the Dynamic Trend can be a useful tool to filter out market noise. When the market is choppy or consolidating, the Dynamic Trend tends to remain flat and colored gray, signaling traders to potentially stay out of the market.
Stop Losses
The Dynamic Trend can also be used as a dynamic stop loss. For instance, in a long trade, traders can use the Dynamic Trend as a trailing stop, selling their position if the price crosses below the Dynamic Trend.
Combining TRN Trend Bars Pro, Bar Ranges and Dynamic Trend together
Combining all three concepts gives you a crystal-clear picture of the market. The Dynamic Trend shows you the overall trend. If price pulls back to the dynamic trend line and then price picks up the trend direction again, then the TRN Trend Bars Pro immediately switches the color to the trend direction. Therefore, you can easily identify high probability entry signals based on the bar color.
As a simple trading model, you can set the stop loss below the last swing or below a TRN signal bar (vice versa for short entries) and use 2.5 R or 3 R as target.
You can increase the success rate of the high probability TRN signal bars entries even more if they are in line with the Dynamic Trend line.
On the other hand, the TRN Bar Ranges help you to stay out of the market in case the price does not really change. As a confluence signal to stay flat in this period the dynamic trend line tends to be grey as well. If the price breaks out of the range, then the indicator prints a breakout bar which serves as a high probability entry signal.
Although it is possible to switch off any of these concepts, it is highly recommended to use all three in combination to get a crystal-clear picture of the market.
Alerts
Experience the power of our TRN Trend Bars Pro alerts, delivering real-time notifications for trend changes, price range breakouts, and signal bar formations or confirmations. Stay on top of the market with these versatile alerts, customizable to your preferred assets and timeframes.
Conclusion
While signals from TRN Trend Bars Pro can be informative, it is important to recognize that their reliability may vary. Various external factors can impact market prices, and it is essential to consider your risk tolerance and investment goals when executing trades.
Risk Disclaimer
The content, tools, scripts, articles, and educational resources offered by TRN Trading are intended solely for informational and educational purposes. Remember, past performance does not ensure future outcomes.
BST system LiteBST system is Entry Criteria based on the logic of price action which price always moves the way ' contraction-expansion-contraction', also known as 'stage1 & stage2' exchange. Stage1 means that price is squeezed back and forth before/after expansion. Stage2 means impulse or expansion to a certain direction. Both "late stage1" and "early stage2" are the best opportunity for entry. Oppositely both "early stage1" and "late stage2" are the best chance for Take profits.
Key Features:
1. Key Bar: that means price in stage2 which is expanding right now, we would better avoid enter market at the moment till price contracting.
2. Blue dashes/dots: The SL point also means price is in stage1 which is back and forth in a narrow range, price is squeezed/contracted before next expansion/mark up. This is the best chance to enter market.
3. Yellow dashes/dos: The recommended entry point, you can also use blue bashes/dots for instead. Because of slippage and spread in different assets, fine tuning parameters is better option. But the default value 1 is suit for most of assets.
How it works ：
What the Key Bar is: For any given candle, if its body crossover prior candle’s high meanwhile its high reaches the ATR of POC (point of control) of prior candle. That means this candle is more powerful and directional than normal bullish candle. vice versa.
The Bullish Key Bar updated strong new high, so we marked that new high with yellow dashes and meanwhile marked the ATR of POC with blue dashes/dots. From the perspective of “Buy for Sell”, sellers always protect high, buyers always protect low. That is why the new high created by bullish key bar turns into the protected high for sellers. The protected high represents the SL point for sellers and entry point for buyers. Vice versa the Bearish Key Bar.
As we know, market structure is fractal, based on the same rules, the Key Bars will be found in LTF, the protected high/low with ATR of POC which created by Key Bars in LTF are marked with blue dots.
This indicator is not only entry/SL tools. You can use the key bar to verify if the current trend is likely to continue running or not.
Of course, tons of acknowledgment behind charts. Indicator offers just additional view of market. Enjoy.
TRN BarsThe innovative TRN Bars are designed to help traders to analyze markets in an intuitive way. It combines three core concepts:
TRN Bars to see the current trend and reversals (replaces the default chart bars)
Bar Ranges to highlight consolidations
Dynamic Trend to see the overall trend.
First, let's have a look at each of these concepts individually. Afterwards, we describe how a combination of all three gives you a crystal-clear picture of the market.
TRN Bars
They show bullish and bearish trends and reversals based on color coding the bars and give high probability trade opportunities with special colors. The trend analysis is based on a new algorithm that includes several different inputs:
classical and advanced bar patterns and their statistical frequency
probability distributions of price expansions after certain bar patterns
bar information such as wick length in %, overlapping of the previous bar in % and many more
historical trend and consolidation analysis
The algorithm weighs these concepts and outputs a color scheme for the chart bars or candlesticks.
Bar Types
Trend bars in green and red
Reversal Bars in blue and fuchsia
Continuation Bars in turquoise and orange
Breakout Bars in dark green and pink
Green Bars signify a sustained uptrend, indicating bullish market sentiment. On the other hand, Red Bars indicate a persistent downtrend, representing bearish market sentiment. The transition from red to green denotes a bullish trend reversal, suggesting a shift from bearish to bullish sentiment. Conversely, the shift from green to red signals a bearish trend reversal, indicating a transition from bullish to bearish sentiment. By monitoring these color changes, traders can identify potential trend reversals and make informed trading decisions.
The presence of gray and black bars indicates a neutral market state, often observed before an impending color change from red to green or green to red. These neutral bars serve as a transition phase between the previous trend and the potential reversal.
The TRN Bars incorporate Signal Bars, distinguished by their distinct colors, to offer potential buy and sell signals and deeper insights into market dynamics.
Reversal Bars
The presence of blue Reversal Bars indicates a trend reversal to the upside, while pink Reversal Bars indicate a reversal to the downside. These bars not only serve as signals for potential trend shifts but also present favorable opportunities to enter the market or increase one's position size.
Continuation Bars
In addition to the reversal bars, TRN Bars also include bullish continuation bars (colored turquoise) and bearish continuation bars (colored orange). These bars act as signals for the continuation of an existing trend. Like the reversal bars, they can be utilized as entry points or opportunities to augment one's position size.
Breakout Bars
The dark green breakout bars within TRN Bars show a powerful breakout from a price range detected by our integrated bar range feature. They signify the continuation or potential change in a trend following a consolidation phase. As such, these bars hold dual functionality, serving as reversal signals and validating the persistence of an ongoing trend.
Bar Ranges
The bar range feature automatically finds consolidations where the price range of several consecutives bars is rather small. The detection of the bar ranges includes among other things the overlapping percentage of these bars.
How to Use Price Ranges
Here are a few ways you can use the bar ranges in your trading:
Identify Support and Resistance Levels
The price ranges can help you identify key support and resistance levels on a chart. By observing price ranges and identifying these levels, you can make more informed decisions about entering or exiting trades.
Breakout Trading
Price ranges can also provide insights into potential breakout opportunities. Breakouts occur when the price breaks out of a defined range, signaling a potential shift in market sentiment and the start of a new trend. The Color highlighted Breakout Bars from the TRN Bars are signaling a powerful breakout of a price range. Traders can enter positions in the direction of the breakout and set appropriate stop-loss orders to manage risk. Note that not every price range is left by a powerful breakout.
Dynamic Trend
The Dynamic Trend combines elements from standard trend strength indicators (e.g. DI-, DI+, Parabolic SAR) and volatility indicators (e.g. ATR, Standard Deviation). It produces a moving average line that adapts to changing market volatility. It is inspired by the ideas of the programmer and trader Fat Tails. The adaptive behavior provides more relevant information for traders when compared to traditional moving averages which do not consider volatility and trend strength together. This makes the Dynamic Trend completely unique, and no other moving average indicator can give you this precision.
How to use Dynamic Trend
Generally, a rising Dynamic Trend line, displayed in green, indicates that an uptrend is strong, while a falling Dynamic Trend, displayed in red, suggests that the downtrend is sharp. The Dynamic Trend turns gray when there is insufficient clarity to establish a distinct trend and especially when there is not volatility in the market.
Identify potential trade entries and exits: When used in conjunction with price action, the Dynamic Trend can provide potential trade signals. For example, if the price crosses above the Dynamic Trend, it may be a bullish sign, suggesting a potential buy entry. Conversely, if the price crosses below the Dynamic Trend, it may indicate bearish conditions and a potential sell signal.
Trend Identification and Pullback trading
Observe the Dynamic Trend's color. When it's on the rise and appears green, it indicates a bullish trend. Conversely, if it's in decline and displayed in red, it signals a bearish trend.
If Dynamic Trend is green and price pulls from above back to the Dynamic Trend, then this can be considered as a bullish signal.
If Dynamic Trend is red and price pulls from below back to the Dynamic Trend, then this can be considered as a bearish signal.
In the event of a bearish signal, such as a bearish TRN Signal Bar, and the Dynamic Trend is red, it provides additional confirmation to the bearish signal. Likewise, bullish signals gain added conviction when the Dynamic Trend is green.
Crossovers
As with other moving averages, crossovers between the Dynamic Trend and the price can be significant.
If price is crossing above the Dynamic Trend, then this can be considered as a bullish signal.
If price is crossing below the Dynamic Trend, then this can be considered as a bearish signal.
If you currently hold a position, both bullish and bearish crossovers can serve as potential exit signals. For instance, in the case of a long position, a bearish crossover can indicate a potential shift in sentiment, signaling a bearish reversal and a potential opportunity to close your long position.
Filtering Noise
Due to its adaptive nature, the Dynamic Trend can be a useful tool to filter out market noise. When the market is choppy or consolidating, the Dynamic Trend tends to remain flat and colored gray, signaling traders to potentially stay out of the market.
Stop Losses
The Dynamic Trend can also be used as a dynamic stop loss. For instance, in a long trade, traders can use the Dynamic Trend as a trailing stop, selling their position if the price crosses below the Dynamic Trend.
Combining TRN Bars, Bar Ranges and Dynamic Trend together
Combining all three concepts gives you a crystal-clear picture of the market. The Dynamic Trend shows you the overall trend. If price pulls back to the dynamic trend line and then price picks up the trend direction again, then the TRN Bars immediately switch the color to the trend direction. Therefore, you can easily identify high probability entry signals based on the bar color.
As a simple trading model, you can set the stop loss below the last swing or below a TRN signal bar (vice versa for short entries) and use 2.5 R or 3 R as target.
You can increase the success rate of the high probability TRN signal bars entries even more if they are in line with the Dynamic Trend line.
On the other hand, the TRN Bar Ranges help you to stay out of the market in case the price does not really change. As a confluence signal to stay flat in this period the dynamic trend line tends to be grey as well. If the price breaks out of the range, then the TRN Bars print a breakout bar which serves as a high probability entry signal.
Although it is possible to switch off any of these concepts, it is highly recommended to use all three in combination to get a crystal-clear picture of the market.
Alerts
Experience the power of our TRN Bars Alerts, delivering real-time notifications for trend changes, price range breakouts, and signal bar formations or confirmations. Stay on top of the market with these versatile alerts, customizable to your preferred assets and timeframes.
Conclusion
While signals from TRN Bars can be informative, it is important to recognize that their reliability may vary. Various external factors can impact market prices, and it is essential to consider your risk tolerance and investment goals when executing trades.
Volatility Adjusted Weighted DEMA [BackQuant]Volatility Adjusted Weighted DEMA
The Volatility Adjusted Weighted Double Exponential Moving Average (VAWDEMA) by BackQuant is a sophisticated technical analysis tool designed for traders seeking to integrate volatility into their moving average calculations. This innovative indicator adjusts the weighting of the Double Exponential Moving Average (DEMA) according to recent volatility levels, offering a more dynamic and responsive measure of market trends.
Primarily, the single Moving average is very noisy, but can be used in the context of strategy development, where as the crossover, is best used in the context of defining a trading zone/ macro uptrend on higher timeframes.
Why Volatility Adjustment is Beneficial
Volatility is a fundamental aspect of financial markets, reflecting the intensity of price changes. A volatility adjustment in moving averages is beneficial because it allows the indicator to adapt more quickly during periods of high volatility, providing signals that are more aligned with the current market conditions. This makes the VAWDEMA a versatile tool for identifying trend strength and potential reversal points in more volatile markets.
Understanding DEMA and Its Advantages
DEMA is an indicator that aims to reduce the lag associated with traditional moving averages by applying a double smoothing process. The primary benefit of DEMA is its sensitivity and quicker response to price changes, making it an excellent tool for trend following and momentum trading. Incorporating DEMA into your analysis can help capture trends earlier than with simple moving averages.
The Power of Combining Volatility Adjustment with DEMA
By adjusting the weight of the DEMA based on volatility, the VAWDEMA becomes a powerful hybrid indicator. This combination leverages the quick responsiveness of DEMA while dynamically adjusting its sensitivity based on current market volatility. This results in a moving average that is both swift and adaptive, capable of providing more relevant signals for entering and exiting trades.
Core Logic Behind VAWDEMA
The core logic of the VAWDEMA involves calculating the DEMA for a specified period and then adjusting its weighting based on a volatility measure, such as the average true range (ATR) or standard deviation of price changes. This results in a weighted DEMA that reflects both the direction and the volatility of the market, offering insights into potential trend continuations or reversals.
Utilizing the Crossover in a Trading System
The VAWDEMA crossover occurs when two VAWDEMAs of different lengths cross, signaling potential bullish or bearish market conditions. In a trading system, a crossover can be used as a trigger for entry or exit points:
Bullish Signal: When a shorter-period VAWDEMA crosses above a longer-period VAWDEMA, it may indicate an uptrend, suggesting a potential entry point for a long position.
Bearish Signal: Conversely, when a shorter-period VAWDEMA crosses below a longer-period VAWDEMA, it might signal a downtrend, indicating a possible exit point or a short entry.
Incorporating VAWDEMA crossovers into a trading strategy can enhance decision-making by providing timely and adaptive signals that account for both trend direction and market volatility. Traders should combine these signals with other forms of analysis and risk management techniques to develop a well-rounded trading strategy.
Alert Conditions For Trading
alertcondition(vwdema>vwdema , title="VWDEMA Long", message="VWDEMA Long - {{ticker}} - {{interval}}")
alertcondition(vwdema
Nightrangers IndicatorDescription
This indicator combines three EMA's, Ichimoku Cloud, RSI and MACD. By combining and modifying their use case this turns into an extremely powerful and accessible indicator for finding long and short position entries, below is a description of how to use this indicator, and what makes it different.
Primary Use case
The three EMA's would be the initial indicators you would be looking at, they are based on the 7d, 25d and 200d MA - Used on their own, they would be worthless, and this is where the Ichimoku Cloud comes into it, I have removed all other aspects of the Ichimoku Cloud and only kept the baseline, combine this with the three MA's and we have a very powerful indicator for finding Long entries, that is used uniquely in a way to which the Ichimoku Cloud is not originally meant to be used for.
An early indication of a LONG entry would be when the 7d MA crosses above the Ichimoku Baseline, through this early indicator, you are able to watch and monitor the chart, you would be waiting to see if the 25d MA then also crosses above the Ichimoku Baseline, This would be the second important indication of a long entry. The 200d MA helps here when making decisions on where to set your own personal take profits - If the Ichimoku baseline, and the MA's are below the 200d MA, you would be expecting a bounce point here, or heavy resistance so the long entry could be over a shorter period, than that if it was above the 200d MA, which is why it is included here, to help make a better informed choice.
The latter is reversed for finding short positions, and entries. This indicator is completely reliant on each other to find the best possible entry/exit by complementing each other, and by using the Ichimoku Baseline on it's own, and not as the Ichimoku Cloud is intended.
Just using these though, is not enough, which is why the RSI and MACD are also combined, once the conditions are met above, You may find that there can be false positives for entries, and this is where the RSI has multiple use cases within this script.
Firstly the backdrop colour will change based on whether the chart is in an uptrend or downtrend, This is a visual indicator provided to work simultaneaously on the chart itself to help identification of entries/exits easier to identify in conjunction with the above.
Secondly, It is used to display in the top right, The current Trend in a text format, as well as if the current chart is in one of three phases, these are Overbrought, Oversold and accumulation.
And finally it will display the current RSI Value on the last candle in a clear to see blue Label, This helps with the visual accessible side, to help you make a more informed choice depending on your own personal tolerance.
This ties into the above Indicators, by combining the information, you would not be looking to take a long, if for example, the RSI showed it was over-brought, and in a downtrend, even if the MA's had crossed above the Baseline, as this would most likely be a fakeout.
However if the Indicators above, showed a potential long, and the backdrop had flipped green, indicating an uptrend, and it was in an accumulation phase, you would consider this position. and this is where the MACD comes into play.
You would use the MACD to see whether or not the Signal line has crossed over the MACD line, and vice versa - However this script uses it to simplify and portray current market sentiment, and visually display by reducing clutter on screen, and making it more accessible.
It is designed to portray an easy to read and understand visual indicator by displaying in the top right simply as Bullish or Bearish, with markers above the candles ( "M" and "MX" ).
The M indicator is to show where the MACD Crosses above the Signal, and if aligned with all the other indicators within the script, shows a very strong confirmation for a buying opportunity, and vice versa for the "MX" indicator if aligned with the other indicators in reverse, provides a very strong confirmation for opening a short position or for selling.
Secondary Use case
By combining the indicators above, the secondary conditions you would be looking for, If you opened a LONG position, would be knowing when to sell, On top of what has been described above already regarding this, you would be looking to start taking profits, when the 7d MA crosses above or across the candles, and looking to close the position, when the 25d MA also crosses above the candles, and respectively, in reverse for closing short positions. This is shown across the charts to be extremely useful, however, combine this with the other indicators, portrayed in an easy to use and understand visual representation, you are now able to make more informed decisions, on whether to close a position or not.
How is it different and not just a mash up
I have combined these indicators to make the world of trading more accessible for everyone regardless of circumstances, by creating an easy to understand visual representation, keeping colours vibrant and easy to stand out, with clear and simple to read text indications. So whether you are a seasoned trader, or just starting out, you can make more informed choices, without the need of learning how to use multiple different indicators, and learning how to combine them all, or if you have difficulties learning, this indicator also simplifies a lot of the more technical intricacies, by still allowing you to make a more informed choice.
Volatility Visualizer by Oddbeaker LLCUse this to determine if a crypto pair has volatility suitable for your Oddbeaker Synthetic Miner. Draws entry/exit lines over the candles.
"Show me every place on the chart where I could have made X percent gains in Y days or less."
Inputs :
Percent Gain : Minimum percent gains to show on the chart.
Scan Bars : Maximum number of bars allowed to reach the profit target.
Notes :
Lines drawn on the chart indicate the entry and exit times and prices to reach the exact profit target.
The indicator only uses the low price of each candle to determine entry. It does not show every possible entry point.
When counting lines, count any group of lines that cross each other as one. Also, count any group of lines that do not cross but overlap in price over the same time period as one.
Tips :
For best results, set Percent Gain to double the amount of the sum of Min Profit and Min Stash on your Synth Miner. Example: If you have minProfit=5 and minStash=5, 5+5=10, so percentGain should be 20 on the chart.
Use a daily chart and set Scan Bars to 7 or less on highly volatile pairs.
Look for charts with the highest number of lines that don't overlap.
Use this indicator combined with the Synthetic Mining Channel for best results.
Smart DCA StrategyINSPIRATION
While Dollar Cost Averaging (DCA) is a popular and stress-free investment approach, I noticed an opportunity for enhancement. Standard DCA involves buying consistently, regardless of market conditions, which can sometimes mean missing out on optimal investment opportunities. This led me to develop the Smart DCA Strategy – a 'set and forget' method like traditional DCA, but with an intelligent twist to boost its effectiveness.
The goal was to build something more profitable than a standard DCA strategy so it was equally important that this indicator could backtest its own results in an A/B test manner against the regular DCA strategy.
WHY IS IT SMART?
The key to this strategy is its dynamic approach: buying aggressively when the market shows signs of being oversold, and sitting on the sidelines when it's not. This approach aims to optimize entry points, enhancing the potential for better returns while maintaining the simplicity and low stress of DCA.
WHAT THIS STRATEGY IS, AND IS NOT
This is an investment style strategy. It is designed to improve upon the common standard DCA investment strategy. It is therefore NOT a day trading strategy. Feel free to experiment with various timeframes, but it was designed to be used on a daily timeframe and that's how I recommend it to be used.
You may also go months without any buy signals during bull markets, but remember that is exactly the point of the strategy - to keep your buying power on the sidelines until the markets have significantly pulled back. You need to be patient and trust in the historical backtesting you have performed.
HOW IT WORKS
The Smart DCA Strategy leverages a creative approach to using Moving Averages to identify the most opportune moments to buy. A trigger occurs when a daily candle, in its entirety including the high wick, closes below the threshold line or box plotted on the chart. The indicator is designed to facilitate both backtesting and live trading.
HOW TO USE
Settings:
The input parameters for tuning have been intentionally simplified in an effort to prevent users falling into the overfitting trap.
The main control is the Buying strictness scale setting. Setting this to a lower value will provide more buying days (less strict) while higher values mean less buying days (more strict). In my testing I've found level 9 to provide good all round results.
Validation days is a setting to prevent triggering entries until the asset has spent a given number of days (candles) in the overbought state. Increasing this makes entries stricter. I've found 0 to give the best results across most assets.
In the backtest settings you can also configure how much to buy for each day an entry triggers. Blind buy size is the amount you would buy every day in a standard DCA strategy. Smart buy size is the amount you would buy each day a Smart DCA entry is triggered.
You can also experiment with backtesting your strategy over different historical datasets by using the Start date and End date settings. The results table will not calculate for any trades outside what you've set in the date range settings.
Backtesting:
When backtesting you should use the results table on the top right to tune and optimise the results of your strategy. As with all backtests, be careful to avoid overfitting the parameters. It's better to have a setup which works well across many currencies and historical periods than a setup which is excellent on one dataset but bad on most others. This gives a much higher probability that it will be effective when you move to live trading.
The results table provides a clear visual representation as to which strategy, standard or smart, is more profitable for the given dataset. You will notice the columns are dynamically coloured red and green. Their colour changes based on which strategy is more profitable in the A/B style backtest - green wins, red loses. The key metrics to focus on are GOA (Gain on Account) and Avg Cost .
Live Trading:
After you've finished backtesting you can proceed with configuring your alerts for live trading.
But first, you need to estimate the amount you should buy on each Smart DCA entry. We can use the Total invested row in the results table to calculate this. Assuming we're looking to trade on BITSTAMP:BTCUSD
Decide how much USD you would spend each day to buy BTC if you were using a standard DCA strategy. Lets say that is $5 per day
Enter that USD amount in the Blind buy size settings box
Check the Blind Buy column in the results table. If we set the backtest date range to the last 10 years, we would expect the amount spent on blind buys over 10 years to be $18,250 given $5 each day
Next we need to tweak the value of the Smart buy size parameter in setting to get it as close as we can to the Total Invested amount for Blind Buy
By following this approach it means we will invest roughly the same amount into our Smart DCA strategy as we would have into a standard DCA strategy over any given time period.
After you have calculated the Smart buy size , you can go ahead and set up alerts on Smart DCA buy triggers.
BOT AUTOMATION
In an effort to maintain the 'set and forget' stress-free benefits of a standard DCA strategy, I have set my personal Smart DCA Strategy up to be automated. The bot runs on AWS and I have a fully functional project for the bot on my GitHub account. Just reach out if you would like me to point you towards it. You can also hook this into any other 3rd party trade automation system of your choice using the pre-configured alerts within the indicator.
PLANNED FUTURE DEVELOPMENTS
Currently this is purely an accumulation strategy. It does not have any sell signals right now but I have ideas on how I will build upon it to incorporate an algorithm for selling. The strategy should gradually offload profits in bull markets which generates more USD which gives more buying power to rinse and repeat the same process in the next cycle only with a bigger starting capital. Watch this space!
MARKETS
Crypto:
This strategy has been specifically built to work on the crypto markets. It has been developed, backtested and tuned against crypto markets and I personally only run it on crypto markets to accumulate more of the coins I believe in for the long term. In the section below I will provide some backtest results from some of the top crypto assets.
Stocks:
I've found it is generally more profitable than a standard DCA strategy on the majority of stocks, however the results proved to be a lot more impressive on crypto. This is mainly due to the volatility and cycles found in crypto markets. The strategy makes its profits from capitalising on pullbacks in price. Good stocks on the other hand tend to move up and to the right with less significant pullbacks, therefore giving this strategy less opportunity to flourish.
Forex:
As this is an accumulation style investment strategy, I do not recommend that you use it to trade Forex.
STRATEGY IN ACTION
Here you see the indicator running on the BITSTAMP:BTCUSD pair. You can read the indicator as follows:
Vertical green bands on historical candles represents where buy signals triggered in the past
Table on the top right represents the results of the A/B backtest against a standard DCA strategy
Green Smart Buy column shows that Smart DCA was more profitable than standard DCA on this backtest. That is shown by the percentage GOA (Gain on Account) and the Avg Cost
Smart Buy Zone label marks the threshold which the entire candle must be below to trigger a buy signal (line can be changed to a box under plotting settings)
Green color of Smart Buy Zone label represents that the open candle is still valid for a buy signal. A signal will only be generated if the candle closes while this label is still green
Below is the same BITSTAMP:BTCUSD chart a couple of days later. Notice how the threshold has been broken and the Smart Buy Zone label has turned from green to red. No buy signal can be triggered for this day - even if the candle retraced and closed below the threshold before daily candle close.
Notice how the green vertical bands tend to be present after significant pullbacks in price. This is the reason the strategy works! Below is the same BITSTAMP:BTCUSD chart, but this time zoomed out to present a clearer picture of the times it would invest vs times it would sit out of the market. You will notice it invests heavily in bear markets and significant pullbacks, and does not buy anything during bull markets.
Finally, to visually demonstrate the indicator on an asset other than BTC, here is an example on CRYPTO:ETHUSD . In this case the current daily high has not touched the threshold so it is still possible for this to be a valid buy trigger on daily candle close. The vertical green band will not print until the buy trigger is confirmed.
BACKTEST RESULTS
Now for some backtest results to demonstrate the improved performance over a standard DCA strategy using all non-stablecoin assets in the top 30 cryptos by marketcap.
I've used the TradingView ticker (exchange name denoted as CRYPTO in the symbol search) for every symbol tested with the exception of BTCUSD because there was some dodgy data at the beginning of the TradingView BTCUSD chart which overinflated the effectiveness of the Smart DCA strategy on that ticker. For BTCUSD I've used the BITSTAMP exchange data. The symbol links below will take you to the correct chart and exchange used for the test.
I'm using the GOA (Gain on Account) values to present how each strategy performed.
The value on the left side is the standard DCA result and the right is the Smart DCA result.
✅ means Smart DCA strategy outperformed the standard DCA strategy
❌ means standard DCA strategy outperformed the Smart DCA strategy
To avoid overfitting, and to prove that this strategy does not suffer from overfitting, I've used the exact same input parameters for every symbol tested below. The settings used in these backtests are:
Buying strictness scale: 9
Validation days: 0
You can absolutely tweak the values per symbol to further improve the results of each, however I think using identical settings on every pair tested demonstrates a higher likelihood that the results will be similar in the live markets.
I'm presenting results for two time periods:
First price data available for trading pair -> closing candle on Friday 26th Jan 2024 (ALL TIME)
Opening candle on Sunday 1st Jan 2023 -> closing candle on Friday 26th Jan 2024 (JAN 2023 -> JAN 2024)
ALL TIME:
BITSTAMP:BTCUSD 80,884% / 133,582% ✅
CRYPTO:ETHUSD 17,231% / 36,146% ✅
CRYPTO:BNBUSD 5,314% / 2,702% ❌
CRYPTO:SOLUSD 1,745% / 1,171% ❌
CRYPTO:XRPUSD 2,585% / 4,544% ✅
CRYPTO:ADAUSD 338% / 353% ✅
CRYPTO:AVAXUSD 130% / 160% ✅
CRYPTO:DOGEUSD 13,690% / 16,432% ✅
CRYPTO:TRXUSD 414% / 466% ✅
CRYPTO:DOTUSD -16% / -7% ✅
CRYPTO:LINKUSD 1,161% / 2,164% ✅
CRYPTO:TONUSD 25% / 47% ✅
CRYPTO:MATICUSD 1,769% / 1,587% ❌
CRYPTO:ICPUSD 70% / 50% ❌
CRYPTO:SHIBUSD -20% / -19% ✅
CRYPTO:LTCUSD 486% / 718% ✅
CRYPTO:BCHUSD -4% / 3% ✅
CRYPTO:LEOUSD 102% / 151% ✅
CRYPTO:ATOMUSD 46% / 91% ✅
CRYPTO:UNIUSD -16% / 1% ✅
CRYPTO:ETCUSD 283% / 414% ✅
CRYPTO:OKBUSD 1,286% / 1,935% ✅
CRYPTO:XLMUSD 1,471% / 1,592% ✅
CRYPTO:INJUSD 830% / 1,035% ✅
CRYPTO:OPUSD 138% / 195% ✅
CRYPTO:NEARUSD 23% / 44% ✅
Backtest result analysis:
Assuming we have an initial investment amount of $10,000 spread evenly across each asset since the creation of each asset, it would have provided the following results.
Standard DCA Strategy results:
Average percent return: 4,998.65%
Profit: $499,865
Closing balance: $509,865
Smart DCA Strategy results:
Average percent return: 7,906.03%
Profit: $790,603
Closing balance: $800,603
JAN 2023 -> JAN 2024:
BITSTAMP:BTCUSD 47% / 66% ✅
CRYPTO:ETHUSD 26% / 33% ✅
CRYPTO:BNBUSD 15% / 17% ✅
CRYPTO:SOLUSD 272% / 394% ✅
CRYPTO:XRPUSD 7% / 12% ✅
CRYPTO:ADAUSD 43% / 59% ✅
CRYPTO:AVAXUSD 116% / 151% ✅
CRYPTO:DOGEUSD 8% / 14% ✅
CRYPTO:TRXUSD 48% / 65% ✅
CRYPTO:DOTUSD 24% / 35% ✅
CRYPTO:LINKUSD 83% / 124% ✅
CRYPTO:TONUSD 7% / 21% ✅
CRYPTO:MATICUSD -3% / 7% ✅
CRYPTO:ICPUSD 161% / 196% ✅
CRYPTO:SHIBUSD 1% / 8% ✅
CRYPTO:LTCUSD -15% / -7% ✅
CRYPTO:BCHUSD 47% / 68% ✅
CRYPTO:LEOUSD 9% / 11% ✅
CRYPTO:ATOMUSD 1% / 15% ✅
CRYPTO:UNIUSD 9% / 23% ✅
CRYPTO:ETCUSD 27% / 40% ✅
CRYPTO:OKBUSD 21% / 30% ✅
CRYPTO:XLMUSD 11% / 19% ✅
CRYPTO:INJUSD 477% / 446% ❌
CRYPTO:OPUSD 77% / 91% ✅
CRYPTO:NEARUSD 78% / 95% ✅
Backtest result analysis:
Assuming we have an initial investment amount of $10,000 spread evenly across each asset for the duration of 2023, it would have provided the following results.
Standard DCA Strategy results:
Average percent return: 61.42%
Profit: $6,142
Closing balance: $16,142
Smart DCA Strategy results:
Average percent return: 78.19%
Profit: $7,819
Closing balance: $17,819
Trend Follower All-In-One [LevelUp]LevelUp is an all-in-one collection of the most popular trend following tools merged into one indicator. LevelUp automates many aspects of technical analysis to find and highlight chart patterns and signals based on the principles of William O'Neil, Stan Weinstein, Jesse Livermore and other well-known trend followers.
The 10-EMA, 21-EMA and 50-SMA are foundational in LevelUp. LevelUp uses the term moving average alignment to refer to patterns that meet your specific requirements as it relates to moving averages and their relationship to price and one another. For example, you can request the start of MA alignment begin when the low is > 21-EMA, the 21-EMA is > 50-SMA and the 50-SMA is trending up.
LevelUp includes indicators for intraday, daily and weekly timeframes.
Key Features:
Daily Timeframe:
▪ Configure moving average alignment and preferred price action.
▪ Custom RS Line:
▪ Symbol overlays showing new RS highs.
▪ Custom moving average with optional cloud.
▪ View 10-week SMA on daily chart.
▪ Set exit criteria based on moving averages and % below entry.
▪ Stats table to simplify calculating entry/exit points.
▪ Signals table to quickly view if stock is trending up.
▪ Power trend tools and analysis.
Daily & Weekly Timeframe:
▪ Flat base detection with custom configuration.
▪ Consolidation detection with custom configuration.
▪ Highlight lower lows and lower closes (pullbacks).
▪ Highlight 52-week highs.
Weekly Timeframe:
▪ Customizable tight closes.
▪ Customizable up weeks.
Intraday Timeframe:
▪ View daily 10-EMA, 21-EMA and 50-SMA.
▪ 1-day and 2-day AVWAP.
▪ 5-day moving average.
All Timeframes:
▪ Marked highs/lows with lines showing support/resistance.
▪ Custom moving averages.
Daily Chart Examples
The following charts show a range of examples on customization and features in LevelUp when viewing a daily chart.
Weekly Chart Examples
Weekly charts are helpful for identifying longer-term trends and patterns. Trend followers often limit the number of indicators and signals on a weekly timeframe, making for a cleaner chart with less noise.
Intraday Chart Examples
Daily 10-EMA, 21-EMA and 50-SMA on an intraday chart.
AVWAP and marked highs/lows.
RS Line ~ Relative Strength
The RS Line compares a stock's performance to the S&P 500 index. A rising RS Line means the stock is outperforming the overall market. Another important signal is when the RS Line reaches a new high before price. When this occurs, it indicates strong demand for the stock and may precede a significant price increase as buyers accumulate shares. Both signals are customizable within LevelUp providing multiple visual cues when the required conditions are met.
LevelUp also adds a few unique visuals as it relates to the typical RS Line. Included are options to show symbols on the RS line that represent RS Line new high and RS Line new high before price. This provides an at-a-glance view of the trend. Additionally, LevelUp allows for custom moving averages to be applied to the RS Line as well as an optional cloud to help identify support/resistance levels.
Power Trends
When a power trend is active, there is a stronger than usual uptrend underway. The concept of a power trend was created by Investor's Business Daily (IBD) based on extensive backtesting and historical analysis.
A power trend by definition uses a major index, such as the Nasdaq Composite (IXIC), as the data source for determining a power trend's state, either off or on. The LevelUp indicator builds upon this concept by allowing the current active chart symbol to be the data source for the power trend.
What Starts A Power Trend:
▪ Low is above the 21-day EMA for at least 10 days.
▪ 21-day EMA is above the 50-day SMA for at least five days.
▪ 50-day SMA is in an uptrend.
▪ Close up for the day.
What Ends A Power Trend:
▪ 21-day EMA crosses under 50-day SMA and the close is below prior day close.
▪ Close below the 50-day SMA and low is 10% below recent high.
Important Note: The power trend as created by IBD uses the daily 21-EMA and 50-SMA. Hence, the power trend is only shown when on the daily timeframe.
AVWAP - Anchored VWAP
The Anchored Volume Weighted Average Price (AVWAP) , created by Brian Shannon, is used to assess the average price at which an asset has traded since a specific time, event or milestone. This could be the beginning of a trading day, the release of important news, or any other event deemed significant. By anchoring the VWAP to a specific point in time, it helps market participants analyze how prices have evolved relative to that anchor.
If a stock is above a rising AVWAP, buyers are in control, while a declining AVWAP indicates sellers are in control. By analyzing AVWAP, traders can make informed decisions on timing entries, managing losses and profits, or deciding to stay on the sidelines during periods of market indecision.
Tight Weeks And Up Weeks
William O'Neil primarily focused on weekly charts. Two common patterns he looked for were tight weeks and up weeks.
Tight weeks occur when there are small variations in price from one week to the next. This indicates a lack of supply and accumulation by institutions. You can configure the minimum number of weeks and the maximum % change in price from week to week.
Up weeks are defined as multiple weeks where each close is higher than the previous week. This pattern is often a signal of institutional buying. At a minimum, O'Neil looked for three weeks of upward price action. You can configure the minimum number of up weeks required.
Flat Base
A flat based is relatively tight price action within a range. A flat base takes 5+ weeks (25+ days) to form. Although flat bases are often found after a more significant advance in price, this isn't always the case. With that in mind, LevelUp does not currently have requirements for a prior uptrend while scanning for flat bases.
In a flat base, price declines should be no more than 15% from intraday peak to trough. This is an important distinction, as with a consolidation (see below) the maximum depth is based on the high of first bar that started the base.
Default Requirements:
▪ Daily minimum length: 25 days.
▪ Weekly minimum length: 5 weeks.
▪ Depth maximum: 15% (daily or weekly).
Consolidation
A consolidation differs from a flat base in that the former can be much deeper and last longer. In addition, the fluctuations in price of a flat base are often tighter than a consolidation.
Unlike a flat base, the maximum depth is calculated from the high at the start of the consolidation. The minimum length and maximum depth can be customized for all flat base and consolidation patterns.
Default Requirements:
▪ Daily minimum length: 30 days.
▪ Weekly minimum length: 6 weeks.
▪ Depth maximum: 35% (daily or weekly).
Pullback In Price And Potential Bounce
A pullback occurs when the price declines after an initial advance. This is normal price action as prior support levels are tested. Pullbacks also act as a way to shakeout weak holders before the primary trend resumes.
With LevelUp you specify the type of pullback to track: lower lows, lower closes or both. You also set the minimum number of bars required. Different values can be set for daily and weekly charts. Once your requirements are met, LevelUp will highlight the bar after the pullback is complete. This is often a potential entry/add point.
52-Week Highs
A 52-week high refers to the highest closing price within the past 52 weeks. Trend followers often use the 52-week high as a signal to identify assets with upward momentum, considering it as an indication of a potential trend continuation. This approach assumes that assets that have reached a 52-week high are more likely to experience further price appreciation.
52-week highs can be shown on both weekly and daily charts. You can set the location where the 52-week high symbol is shown: above the bar, below the bar, at the top of the chart or at the bottom of the chart.
Marked Highs And Lows
Marked highs/lows, often referred to as pivot highs/lows, can be helpful to find areas of potential support and resistance. As defined by William O'Neil, on a daily chart, a marked high is the highest high going back nine bars and forward nine bars. The number of days forward/backward is referred to as the period. The same concept applies to finding marked lows.
One benefit of LevelUp marked highs/lows is that you can customize the high and low periods on all timeframes.
There is an additional option when viewing marked highs/lows to see where a breakout occurs. The highlight is shown if the current bar high is above the most recent pivot high.
Comparing Stock Performance
With two or more copies of LevelUp installed, you can configure different settings and compare and contrast how indicators and signals perform relative to one another.
This is a great way to come up with your own custom layout for each timeframe, tailored to your preferences and trading style.
Stats And The Signals Table
The stats and signal tables can be very helpful to see price information and patterns at a glance. For example, you can quickly determine potential stoploss placement based on the distance to/from a moving average. The signals tables show the status of several key trend indicators, including 52-week highs, RS Line new high and RS Line new high before price.
Managing Long Term Trends
Depending on your trading style, there are many ways to take advantage of long term trends. For example, the chart that follows show how an uptrend can be a profitable trade whether holding for the duration or taking shorter term trades along the way.
Intraday FIB ScalpingThe Intraday Fibonacci Levels Indicator is a powerful tool designed to enhance trading decisions in intraday markets. Leveraging the dynamic nature of Fibonacci retracement levels, this indicator utilizes the high and low prices observed within the first 15 minutes of the trading session to plot key levels and establish potential entry and exit zones.
Key Features:
Automatic Calculation: The indicator swiftly calculates Fibonacci retracement levels based on the highest high and lowest low recorded during the initial 15 minutes of the trading day. This ensures a quick and accurate representation of potential support and resistance levels.
Zone Marking for Precision: The indicator marks specific zones on the chart, providing traders with clear visual cues for potential entry and exit points. These zones are strategically aligned with Fibonacci levels, offering a systematic approach to decision-making.
User-Friendly Interface: With a user-friendly interface, the Intraday Fibonacci Levels Indicator is suitable for both novice and experienced traders. The intuitive design allows for easy interpretation of signals and levels.
By harnessing the power of Fibonacci retracement levels and incorporating them into an intraday context, this indicator empowers traders with a systematic and data-driven approach to decision-making. Whether identifying entry points, setting stop losses, or planning exit strategies, the Intraday Fibonacci Levels Indicator serves as a valuable ally in navigating the complexities of intraday trading.
How to Trade using these Levels?
With this indicator, you can see all the levels between whole number and its corresponding 0.272 were highlighted. That is where we need to look for intraday trade entry. If any of the level broken on either side and the bar closes below ore above the highlighted area, we should enter the trade in that direction with immediate next FIB level as TP1 and subsequent level as TP2. And, an opposite directional close above or below the highlighted level will be considered as stop loss exit.
We prefer to trade in 3 minutes or 5 minutes timeframe for intraday trading.
How we plot the levels?
We are incorporating ORB into Fibonacci to plot intraday trading levels. We use high and low of first 15 minutes candle of each new trading session to arrive the levels for that session.
When market is trading above or below initially plotted levels, user can extend the levels by enabling extentions provided in user settings
Forex Master Pattern Screener 2Overview
The Forex Master Pattern Screener 2 is based on the Master Pattern, which includes contraction, expansion, and trend phases. This indicator is designed to identify and visualize market volatility, market phases, multi-timeframe contractions, liquidity points, and pivot calculations. It provides a clear image of the market's expansion and contraction phases. It's based on an alternative form of technical analysis that reveals the psychological patterns of financial markets through three phases.
Unlike the other master pattern indicators that just use highs and lows and aren't as accurate for finding contractions, this one uses actual measures of volatility to find extremely low levels of volatility and has customizable parameters depending on what you want to do.
What is the Forex Master Pattern?
The Forex Master Pattern is a framework that revolves around understanding market cycles, comprising the three main phases: contraction, expansion, and trend.
Contraction Phase: During this phase, the market has low volatility and is consolidating within a narrow range. Institutional volume tends to be low, and it's suggested to avoid trade entries during this period.
Expansion Phase: Volatility starts to increase, and there start to be bigger moves in price. Institutional traders start accumulating positions in this phase, and they might manipulate prices to draw in retail traders, creating liquidity for their own buying or selling goals.
Trend Phase: This final phase completes the market cycle. Institutional traders begin taking profits, leading to a reversal. This triggers panic among retail traders, resulting in liquidations and stops. This generates liquidity for institutional traders to profit, leaving retail traders with overvalued positions.
Value Line:
The "value line" acts as the fair value zone or the neutral belief zone where buyers and sellers agree on fair value. It can be likened to the center of gravity and is created during contraction zones.
Applications:
Identifying these phases and understanding the value lines can help traders determine the market's general direction and make better trading decisions.
This isn't a strategy but a concept explaining market behavior, allowing traders to develop various strategies based on these principles
The contractions, which are based on volatility calculations, can help you find out when big moves will occur, known as expansions.
How traders can use this indicator
1. Identifying Market Phases:
Contraction Phase: Look for periods where the market has low volatility and is contracting, indicated by a narrow range and highlighted by the contraction box. During this phase, traders prepare for a breakout but usually avoid making new trades until a clearer trend emerges.
Expansion Phase: When the indicator signals an expansion, it suggests that the market is moving out of consolidation and may be beginning a new trend. Traders might look for entry points here, anticipating a continuation of the trend.
Trend Phase: As the market enters this phase, traders look for signs of sustained movement in one direction and consider positions that benefit from this trend.
2. Multi-Timeframe Analysis:
By looking at multiple timeframes, traders can get a broader view of the market. For instance, a contraction phase in a shorter timeframe within an expansion phase in a longer timeframe might suggest a pullback in an overall uptrend. This indicator comes with a MTF contraction screener that is customizable.
2. Fair Value Lines:
The fair value acts like a "center of gravity.". Traders could use this as a reference point for understanding market sentiment and potential reversal points. This indicator shows these values in the middle of the contraction boxes.
3. Volatility Analysis:
This indicator's volatility settings can help traders understand the market's current volatility state. High volatility indicates a more active market with larger, faster moves, while low volatility might suggest caution and tighter stop-losses or take-profits. If volatility is contracting, then an expansion is imminent. This indicator shows the volatility with percentile ranks in 0-100 values and also alerts you when volatility is contracting, aka the contraction phase.
Volatility Calculations:
This indicator uses a geometric standard deviation to measure volatility based on historical price data. This metric quantifies the variability of price changes over a specified lookback period and then computes a percentile rank within a defined sample period. This percentile calculation helps evaluate the current volatility compared to historical levels.
Based on the percentile rank, the indicator sets thresholds to determine whether the current volatility is within a range considered "contraction" or not. For example, if there are really low levels of volatility on the percentile rank, then there is currently a contraction phase. The indicator also compares the volatility value against a moving average, where values above the current moving average value signal the expansion phase.
Multi-Timeframe Analysis (MTF):
This indicator comes with a multi-timeframe table that shows contractions for 5 different timeframes, and the table is customizable.
Bands:
This indicator comes with bands that are constructed based on the statistical calculations of the standard deviation applied to the log-transformed closing prices. It is commonly assumed that the distribution of prices fits some type of right-skewed distribution. To remove most of the skewness, you can use a log transformation , which makes the distribution more symmetrical and easier to analyze, thus the use of these bands . These bands are in the 2 standard deviation range. You can use these bands to trade at extreme levels. The band parameter is based on the contraction volatility lookback, which is in the Volatility Model Settings tab.
Ways the bands could be used with the contractions:
1. Identifying Breakout trades:
Contraction Zones: These zones indicate periods of low volatility where the market is consolidating. There are usually narrow price ranges, which are considered a build-up phase before a significant price move in any direction.
Bands: When the contraction zone occurs, you might notice the bands tightening around the price on smaller lookback periods, reflecting the decreased volatility. A continuous widening of the bands could then signal the beginning of an expansion phase, indicating a potential breakout opportunity.
2. Enhancing Trade Timing:
Before the Breakout: During the contraction phase, the bands might move closer together, reflecting the lower volatility. You can monitor this phase closely and prepare for a potential expansion. The bands can provide additional confirmation; for instance, a price move toward one of the bands might show an extreme occurrence and might show what the direction of the breakout could be.
After the breakout: Once the price breaks out of the contraction zone and goes to the expansion phase, and if it coincides with the bands widening significantly, it could reinforce the strength and potential sustainability of the new trend, providing a clearer entry.
3. Price-touching bands during a contraction:
If the price repeatedly touches one of the bands during a contraction phase, it might suggest a buildup of pressure in that direction. For example, if the price is consistently touching the upper band even though the bands are narrow, it might suggest bullish pressure that could occur once the expansion phase begin.
4. Price at the band extreme levels during Expansion:
If the price is at the extreme levels of the bands once the expansion phase occurs, it might indicate unsustainable levels and a low probability of the price continuing beyond those levels. Potentially signaling that a reversal will occur. Some trades could use these extremes to place entries during the expansion phases.
Liquidity Levels:
This script comes with liquidity points, whose functionality goes towards identifying pivotal levels in price action, focusing on swing highs and swing lows in the market. These points represent areas where significant buying (for swing lows) or selling (for swing highs) activity has occurred, implying potential levels or resistance in the price movement.
These liquidity points, often identified as highs and lows, are points where market participants have shown interest in the past. These levels can act as psychological indications where traders might place orders, leading to increased trading activity when these levels are approached or breached. When used with the Forex Master Pattern phases, liquidity levels can enhance trades placed with this indicator. For instance, if the market is expanding and approaches a significant liquidity level, there might be a higher chance of a breakout or reversal, showing a possible entry or exit point.
Liquidity Levels in the Contraction Phase:
Accumulation and Distribution: During the contraction phase, liquidity levels can indicate where huge positions are likely accumulating or distributing quietly. If price is near a known liquidity level and in a contraction phase, it might suggest that a large market player is building a position in anticipation of the next move.
Breakout Points: Liquidity levels can also give clues about where price could go after the breakout from the contraction phase. A break above a liquidity level might indicate a strong move to come as the market overcomes significant selling pressure.
Liquidity Levels in Expansion Phase:
Direct Confirmation: As the expansion phase begins, breaking through liquidity levels can confirm the new trend's direction. If the price moves past these levels with huge volume, it might indicate that the market has enough momentum to continue the trend.
Target Areas: Liquidity levels can act as target areas during the expansion phase. Traders using this indicator could look to take profits if the price approaches these levels, possibly expecting a reaction from the market.
True SMCThe True SMC Indicator is specifically designed for structure mapping and the identification of high-probability Order Blocks. Excelling in distinctly recognising four types of Order Blocks, it provides traders with a direct and efficient method to dissect market movements and identify strategic entry points with precision
🔶 Understanding Structure Mapping
This indicator introduces a unique approach to analysing market structure, focusing on liquidity, which is termed 'Inducement'. Inducement is crucial for identifying key structural markers in the market, such as Higher Highs (HH), Higher Lows (HL), Lower Lows (LL), and Lower Highs (LH).
Inducement acts like a trap set near a supply or demand zone. It entices impatient buyers or sellers into the market before the actual zone is reached, thereby creating liquidity. For an inducement to be considered valid, it must represent a valid pullback.
A valid scenario occurs when the price sweeps or closes beyond the high or low of the previous candle; in this case, the candle's color, whether bullish or bearish, is not relevant, and both scenarios are considered valid. Inside bars are ignored as they do not meet this criterion. The indicator assists in this process by automatically highlighting valid pullbacks with a distinctive gray round label.
This feature is not just a visual aid but also a crucial tool in effortlessly understanding market movements, providing a clear visual representation of ongoing market trends.
🔶 Understanding How Order Block is working
Our indicator incorporates four distinct types of Order Blocks, each designed for specific roles in market analysis. Among these, the **OB-IDM** and **OB-EXT** are regarded as high-probability Order Blocks, and our primary focus is on these two for market entry.
IDM Order Block (OB-IDM): IDM Order block (OB-IDM) is basically the first Order Block that shows up after the IDM level is passed. Think of it as the closest OB you find below the current IDM.
Extreme Order Block (OB-EXT): OB-EXT is the first and lowest Order Block that you'll find between a Major Low and a Major High.
Single Candle Order Block (SCOB): Single candle mitigation is very Powerful way to add multiple entries in you're winning trades.
Smart Money Trap (SMT): The SMT consists of all the Order Blocks that lie between the Extreme and OB-IDM. It acts as a cautionary signal, indicating potential traps for Smart Money Concept traders. It is essential to recognize that the SMT does not provide additional confirmation for trading. Instead, it highlights areas where traders should exercise extra caution. Trading decisions should be based on clear confirmations, such as inducements or liquidity sweeps, rather than solely on the SMT.
🔶 How to Use the True SMC Indicator:
The True SMC Indicator is designed to enhance your trading strategy by identifying key order blocks and market signals. Below is a guide on how to utilize the various elements of the True SMC Indicator:
OB IDM (Order Block Inducement):
Usage : This is a decisional order block crucial for identifying trade entries. It is particularly effective for pinpointing potential reversal zones.
Alerts: Setting up alerts on OB IDM is recommended to be notified when the price reaches this critical area, thus facilitating prompt and informed trading decisions.
OB-EXT (Extreme Order Block):
Usage : OB-EXT serves as an extreme and high-probability order block for trade entries, ideal for identifying strategic entry points at potential reversal points.
Alerts: Activating alerts on OB-EXT will keep you informed about price approaches, aiding in the preparation of your trade setups.
SCOB (Single Candle Order Block):
Usage : SCOB is ideal for scaling into a position. It should be employed for adding to positions when the market reacts to OB IDM or OB-EXT, indicating a potential reversal.
SMT (Smart Money Trap):
Usage Caution: The SMT should be approached with caution as it represents a potential trap. It is advised to avoid trading directly at SMT zones. Instead, use these zones to gauge market sentiment and make informed decisions.
This structured approach to using the True SMC Indicator will help you in making more precise and strategic trading decisions, enhancing your overall market analysis.
🔶 Example of usage:
Market Structure Diagram
This diagram illustrates the key structural markers in the market such as Higher Highs (HH), Higher Lows (HL), Lower Lows (LL), and Lower Highs (LH). It provides a visual guide to understanding the underlying market structure.
Example from a Real Chart: This chart is a prime example of how our indicator is used to dissect and highlight market structure in a live trading environment. It vividly demonstrates the 'Inducement' concept in action, pinpointing key structural points like HH, HL, LL, and LH in real-time market trends.
Valid Pullback
Illustration of a Valid Pullback: This image showcases a typical scenario where the price sweeps beyond the previous candle's high or low, marking a valid pullback. Notice the distinctive gray round label indicating the point of inducement.
IDM Order Block (OB-IDM)
This diagram illustrates the IDM Order Block (OB-IDM), highlighting its position as the first OB following the IDM level. It represents the nearest OB below the current IDM level.
IDM Order Block in Action This real chart example showcases the OB-IDM in a live market scenario, demonstrating how it appears and functions in practical trading.
Extreme Order Block (OB-EXT)
The diagram depicts the OB-EXT, which is identified as the first and lowest Order Block between a Major Low and a Major High.
OB-EXT in Real Market: This chart example highlights the OB-EXT, showing its position and significance in market analysis between major market points.
Single Candle Order Block (SCOB)
The accompanying chart demonstrates the SCOB in a live trading environment, illustrating its effectiveness in trade optimization.
Smart Money Trap (SMT)
This real chart provides insight into how the SMT is used in actual trading, marking areas for increased caution and illustrating its role in a comprehensive trading strategy.
🔶 Additional Features
Easy-to-Follow Trend Display : The script employs a Color Coded candle system, simplifying trend recognition.
Any Alert function call = It can be configured for a range of trading events, allowing you to stay informed about key market movements. In the settings, you can choose to enable or disable alerts for events such as BOS Sweep, CHock, CHock Sweep, IDM, IDM Sweep, OB IDM, OB EXT, and PDH/PDL.
Automatic resolving of ChoCh-IDM and IDM-BoS conflicts = The indicator is equipped to automatically resolve conflicts that arise between ChoCh-IDM and IDM-BoS. It intelligently identifies situations where there might be an IDM instead of a ChoCh, or a BoS instead of an IDM, ensuring accurate readings and analysis.
Anywhere Structure Mapping : The tool simplifies market analysis by enabling you to draw structures from any chosen moment. Simply adjust the slider to your desired point and instantly trade based on the internal structure revealed. This feature offers an intuitive and efficient way to understand and navigate market dynamics.
🔶 Conclusion
The True SMC Indicator distinguishes itself from other market analysis tools through its specialised focus on structure mapping and high-probability Order Blocks. Unlike generic indicators, it expertly identifies and categorizes four distinct types of Order Blocks, including IDM and Extreme Order Blocks, which are crucial for high-accuracy trade entries. Its unique approach in analysing market structure centers on 'Inducement,' a key concept for pinpointing vital market structural markers. This feature, combined with its ability to alert traders to both promising entry points and potential Smart Money Traps, equips users with a comprehensive tool for a nuanced understanding of market dynamics and strategic trade execution. Such targeted capabilities make the True SMC Indicator an invaluable asset for traders seeking precision and efficiency in their market analysis.
Trading Strategy - Follow The Plan"Trading Strategy - Follow The Plan" is a TradingView indicator specifically crafted for traders dedicated to adhering to a structured approach. It emphasizes the elimination of emotional decision-making by providing clear, actionable steps. This tool allows you to articulate and visually embed your trading strategy directly onto your charts, encompassing your entry plan, exit plan, and any additional notes crucial for maintaining focus and discipline. It's designed to aid in sustaining consistency in your trading executions, ensuring that you remain steadfastly aligned with your predetermined trading methodology.
Features
1. Entry Plan: Allows traders to outline specific criteria for market entry. This could include conditions like divergences on multiple timeframes, specific pattern recognitions, or other entry triggers. The flexibility of this section caters to various trading styles and strategies.
2. Exit Plan: Dedicated to defining exit strategies, this section can include details on profit targets, stop-loss levels, or conditions for position reversal. It serves as a constant reminder of exit strategies during active trades.
3. Notes: A customizable space for traders to jot down essential rules, observations, or reminders. This section is particularly useful for reinforcing risk management practices and maintaining focus on broader trading goals.
4. Visibility Controls: Each section of the trading plan (Entry Plan, Exit Plan, Notes) can be toggled on or off, allowing traders to manage on-screen information and reduce chart clutter.
5. Layout Customization: Users can choose the placement of the trading plan on their chart, with options including Top Right, Top Left, Bottom Right, and Bottom Left. This caters to individual preferences and screen setups.
6. Appearance Customization: The indicator allows for adjustments in text and background colors, and text sizes for titles and content, enhancing readability and personal preference alignment.
