PreviousDayHLEQCME_MINI:NQ1!
Indicator Overview: The "PreviousDayHLEQ" indicator is an essential tool for traders employing Inner Circle Trader (ICT) methodologies, designed to plot the High (H), Low (L), Equilibrium (EQ, the midpoint between high and low), and Optimal Trade Entry (OTE) levels at 61.8%, 70%, and 79% of the previous trading day's range. It provides a clear visual reference for potential support, resistance, and entry zones based on the prior day's price action, helping traders anticipate continuations or reversals in the current day. This indicator stands out by incorporating directional OTE auto-detection, adjusting levels based on whether the previous day formed a new high or low relative to the day before, offering insights into market bias without manual recalculation.
Core Functionality: It tracks and displays the previous day's high and low, calculating the EQ as the average for balance points, and OTE levels as percentage retracements of the range. The script uses a user-defined trading day definition (with timezone support) to accurately capture the day's extremes, ensuring alignment with global market sessions. This core setup allows traders to quickly identify key ICT levels like fair value gaps or liquidity pools from the prior day.
Unique OTE Auto Detection: One of the indicator's most innovative features is its automatic detection of OTE direction. If the previous day made a new high compared to the day before, OTE levels are calculated downward from the high to the low (bearish bias), highlighting potential short entries. Conversely, a new low triggers upward OTE levels from the low to the high (bullish bias), signaling long opportunities. This auto-detection is unique, as it dynamically adapts to historical price expansion without user input, a capability not found in standard previous day indicators that typically use fixed directions. It empowers ICT traders to gauge carry-over momentum from the prior day, such as in scenarios where a bullish expansion suggests buying dips to the 61.8% level.
Directional Bias Indication: Beyond plotting levels, the OTE calculation inherently indicates the previous day's bias (expansion upward or downward), providing context for current day trades. This unique bias detection helps traders align with market structure, e.g., favoring shorts if OTE is downward-oriented, enhancing decision-making in ICT frameworks like order block identification.
Left-Side Trimming Innovation: The indicator includes a highly unique left-side trimming option, allowing users to restrict the historical extension of lines to a specified number of bars (e.g., the last 8 bars). This reduces visual clutter on charts with long history, focusing attention on recent and relevant price action—a feature rarely seen in previous day indicators, where lines often span the entire chart and obscure current developments. Traders can toggle trimming on/off and adjust the bar count, making it ideal for clean, professional setups.
Customization and Visual Controls: Users can fully customize line colors (separate for high, low, EQ, and each OTE level), styles (solid, dashed, dotted), and label properties (text color, background color, transparency, size). This level of granularity ensures the indicator fits any chart theme or strategy, with options to enable/disable individual elements like EQ or OTE for minimalistic views. The stick-right label option keeps labels visible as the chart updates, preventing overlap.
Auto-Deletion at Trading Day End: Levels can be automatically cleared at the indicator's calculated market close (17:00 NY time), a unique feature that prevents accumulation of outdated data, keeping the chart fresh for the next day. This is particularly useful for day traders who reset their setups daily.
No External Dependencies: The indicator operates solely on chart price data using built-in Pine Script functions, ensuring reliability and compatibility without needing additional libraries or internet access.
How It Works
Previous Day Data Capture: The script identifies the previous trading day using the user-defined timezone and calculates high, low, EQ, and OTE levels based on that day's range.
OTE Calculation: Levels are computed as percentages of the range, with auto-detection switching direction if a new high/low was made relative to the day before.
Drawing and Trimming: Lines are plotted with user-set padding for extension, and trimming cuts the left side to focus on current action.
Update Mechanism: Levels update in real-time as the previous day's data is fixed, but the script refreshes on chart reloads or new days.
Deletion Logic: At market close, if auto-delete is enabled, all elements are removed to prepare for the next cycle.
Uniqueness and Innovation
Session OTE Auto Detection: Automatically determines OTE direction based on previous day's high/low expansion, a rare feature that provides bias insights not available in basic previous day high/low indicators, aiding ICT traders in identifying entry zones with market context.
Left-Side Trimming: This innovation allows customizable historical line length, solving chart clutter issues unique to previous day indicators that typically show full history, enhancing usability for live trading.
Directional OTE with Multi-Level Support: Combines auto-bias detection with three OTE percentages (61.8%, 70%, 79%), offering more granular entry options than single-level tools, tailored for ICT's focus on range retracements.
Independent Customization per Element: Separate controls for high, low, EQ, and OTE colors/styles, plus transparency and size, provide unmatched flexibility compared to rigid indicators.
Auto-Deletion for Cleanliness: Unique cleanup at market close prevents level buildup, a practical feature for multi-day analysis not commonly implemented in similar tools.
How to Use It
Setup: Add to chart, configure timezone (e.g., "America/New_York"), and enable the indicator.
Customization: Adjust line colors (e.g., blue for high), styles (dashed for OTE), and enable trimming (8 bars for focus).
Interpretation: Use OTE for entries (e.g., buy at 61.8% in bullish bias); EQ for reversion.
Tips: Test on historical data; combine with ICT concepts like CISD, FVG etc.
This indicator elevates ICT trading with its auto-detection and trimming. Use with risk management; trading carries risk
ค้นหาในสคริปต์สำหรับ "high low"
EAOBS by MIGVersion 1
1. Strategy Overview Objective: Capitalize on breakout movements in Ethereum (ETH) price after the Asian open pre-market session (7:00 PM–7:59 PM EST) by identifying high and low prices during the session and trading breakouts above the high or below the low.
Timeframe: Any (script is timeframe-agnostic, but align with session timing).
Session: Pre-market session (7:00 PM–7:59 PM EST, adjustable for other time zones, e.g., 12:00 AM–12:59 AM GMT).
Risk-Reward Ratios (R:R): Targets range from 1.2:1 to 5.2:1, with a fixed stop loss.
Instrument: Ethereum (ETH/USD or ETH-based pairs).
2. Market Setup Session Monitoring: Monitor ETH price action during the pre-market session (7:00 PM–7:59 PM EST), which aligns with the Asian market open (e.g., 9:00 AM–9:59 AM JST).
The script tracks the highest high and lowest low during this session.
Breakout Triggers: Buy Signal: Price breaks above the session’s high after the session ends (7:59 PM EST).
Sell Signal: Price breaks below the session’s low after the session ends.
Visualization: The session is highlighted on the chart with a white background.
Horizontal lines are drawn at the session’s high and low, extended for 30 bars, along with take-profit (TP) and stop-loss (SL) levels.
3. Entry Rules Long (Buy) Entry: Enter a long position when the price breaks above the session’s high price after 7:59 PM EST.
Entry price: Just above the session high (e.g., add a small buffer, like 0.1–0.5%, to avoid false breakouts, depending on volatility).
Short (Sell) Entry: Enter a short position when the price breaks below the session’s low price after 7:59 PM EST.
Entry price: Just below the session low (e.g., subtract a small buffer, like 0.1–0.5%).
Confirmation: Use a candlestick close above/below the breakout level to confirm the entry.
Optionally, add volume confirmation or a momentum indicator (e.g., RSI or MACD) to filter out weak breakouts.
Position Size: Calculate position size based on risk tolerance (e.g., 1–2% of account per trade).
Risk is determined by the stop-loss distance (10 points, as defined in the script).
4. Exit Rules Take-Profit Levels (in points, based on script inputs):TP1: 12 points (1.2:1 R:R).
TP2: 22 points (2.2:1 R:R).
TP3: 32 points (3.2:1 R:R).
TP4: 42 points (4.2:1 R:R).
TP5: 52 points (5.2:1 R:R).
Example for Long: If session high is 3000, TP levels are 3012, 3022, 3032, 3042, 3052.
Example for Short: If session low is 2950, TP levels are 2938, 2928, 2918, 2908, 2898.
Strategy: Scale out of the position (e.g., close 20% at TP1, 20% at TP2, etc.) or take full profit at a preferred TP level based on market conditions.
Stop-Loss: Fixed at 10 points from the entry.
Long SL: Session high - 10 points (e.g., entry at 3000, SL at 2990).
Short SL: Session low + 10 points (e.g., entry at 2950, SL at 2960).
Trailing Stop (Optional):After reaching TP2 or TP3, consider trailing the stop to lock in profits (e.g., trail by 10–15 points below the current price).
5. Risk Management per Trade: Limit risk to 1–2% of your trading account per trade.
Calculate position size: Account Size × Risk % ÷ (Stop-Loss Distance × ETH Price per Point).
Example: $10,000 account, 1% risk = $100. If SL = 10 points and 1 point = $1, position size = $100 ÷ 10 = 0.1 ETH.
Daily Risk Limit: Cap daily losses at 3–5% of the account to avoid overtrading.
Maximum Exposure: Avoid taking both long and short positions simultaneously unless using separate accounts or strategies.
Volatility Consideration: Adjust position size during high-volatility periods (e.g., major news events like Ethereum upgrades or macroeconomic announcements).
6. Trade Management Monitoring :Watch for breakouts after 7:59 PM EST.
Monitor price action near TP and SL levels using alerts or manual checks.
Trade Duration: Breakout lines extend for 30 bars (script parameter). Close trades if no TP or SL is hit within this period, or reassess based on market conditions.
Adjustments: If the market shows strong momentum, consider holding beyond TP5 with a trailing stop.
If the breakout fails (e.g., price reverses before TP1), exit early to minimize losses.
7. Additional Considerations Market Conditions: The 7:00 PM–7:59 PM EST session aligns with the Asian market open (e.g., Tokyo Stock Exchange open at 9:00 AM JST), which may introduce higher volatility due to Asian trading activity.
Avoid trading during low-liquidity periods or extreme volatility (e.g., major crypto news).
Check for upcoming events (e.g., Ethereum network upgrades, ETF decisions) that could impact price.
Backtesting: Test the strategy on historical ETH data using the session high/low breakouts for the 7:00 PM–7:59 PM EST window to validate performance.
Adjust TP/SL levels based on backtest results if needed.
Broker and Fees: Use a low-fee crypto exchange (e.g., Binance, Kraken, Coinbase Pro) to maximize R:R.
Account for trading fees and slippage in your position sizing.
Time zone Adjustment: Adjust session time input for your time zone (e.g., "0000-0059" for GMT).
Ensure your trading platform’s clock aligns with the script’s time zone (default: America/New_York).
8. Example Trade Scenario: Session (7:00 PM–7:59 PM EST) records a high of 3050 and a low of 3000.
Long Trade: Entry: Price breaks above 3050 (e.g., enter at 3051).
TP Levels: 3063 (TP1), 3073 (TP2), 3083 (TP3), 3093 (TP4), 3103 (TP5).
SL: 3040 (3050 - 10).
Position Size: For a $10,000 account, 1% risk = $100. SL = 11 points ($11). Size = $100 ÷ 11 = ~0.09 ETH.
Short Trade: Entry: Price breaks below 3000 (e.g., enter at 2999).
TP Levels: 2987 (TP1), 2977 (TP2), 2967 (TP3), 2957 (TP4), 2947 (TP5).
SL: 3010 (3000 + 10).
Position Size: Same as above, ~0.09 ETH.
Execution: Set alerts for breakouts, enter with limit orders, and monitor TPs/SL.
9. Tools and Setup Platform: Use TradingView to implement the Pine Script and visualize breakout levels.
Alerts: Set price alerts for breakouts above the session high or below the session low after 7:59 PM EST.
Set alerts for TP and SL levels.
Chart Settings: Use a 1-minute or 5-minute chart for precise session tracking.
Overlay the script to see high/low lines, TP levels, and SL levels.
Optional Indicators: Add RSI (e.g., avoid overbought/oversold breakouts) or volume to confirm breakouts.
10. Risk Warnings Crypto Volatility: ETH is highly volatile; unexpected news can cause rapid price swings.
False Breakouts: Breakouts may fail, especially in low-volume sessions. Use confirmation signals.
Leverage: Avoid high leverage (e.g., >5x) to prevent liquidation during volatile moves.
Session Accuracy: Ensure correct session timing for your time zone to avoid misaligned entries.
11. Performance Tracking Journaling :Record each trade’s entry, exit, R:R, and outcome.
Note market conditions (e.g., trending, ranging, news-driven).
Review: Weekly: Assess win rate, average R:R, and adherence to the plan.
Monthly: Adjust TP/SL or session timing based on performance.
PrismWAP (Anchored)# PrismWAP (Anchored)
Overview
PrismWAP plots three anchored weighted-average prices (VWAP, TWAP, TrueWAP) with dynamic volatility bands and a resettable anchor line. It helps you see key value levels since your chosen anchor period and gauge price excursions relative to volatility.
How It Works
On each new span (session, week, month, quarter, etc.), the indicator resets a base price from the first bar’s open. It computes anchored VWAP, TWAP, and TrueWAP cumulatively over the span. Volatility bands are drawn as ±multiplier × a span-length-weighted average of your chosen volatility measure (Std Dev, MAD, ATR-scaled, or Percent of WAP).
Inputs
Settings/Default/Description
Anchor Period/Quarter/Span for resetting WAP and anchor line (Week, Month, etc.)
Volatility Measure/Std Dev/Method for band width: SD, MAD, ATR (scaled), Percent of WAP
Volatility Spans/current+2/Number of spans (current + previous spans) used in volatility
Band Multiplier(or %)/3.0/Multiplier for band width (or Percent of WAP in Percent mode)
Scale MAD to σ/true/When MAD selected, scale by √(π/2) so it aligns with σ
Display
• Show Anchor Line true
• Show VWAP true
• Show TWAP true
• Show TrueWAP true
• Show VWAP Bands false
• Show TWAP Bands false
• Show TrueWAP Bands true
Tips & Use Cases
• Use shorter spans (Session, Week) for sub-daily bar intervals.
• Use longer spans (Quarter, Year) for daily bar intervals.
References:
1. TrueWAP Description
2. SD, MAD, ATR (scaled) weighted average volatility
## 1. TrueWAP: Volatility-Weighted Price Averaging
What Is TrueWAP?
TrueWAP plugs actual price fluctuations into your average. Instead of only tracking time (TWAP) or volume (VWAP), it weights each bar’s TrueRange midpoint by its TrueRange—so when the market moves more, that bar counts more.
TrueWAP (Anchored) Overview
• On the first bar, it uses the simple high-low midpoint for price and the bar’s high-low range for weighting.
• From the next bar onward, it computes TrueMid by averaging the TrueRange high (higher of prior close or current high) with the TrueRange low (lower of prior close or current low).
• Each TrueMid is weighted by its TrueRange and cumulatively summed from the anchor point.
Pseudocode
// TWAP Example for Comparison
current_days = BarsSince("start_of_period")
OHLC = (Open + High + Low + Close) / 4
TWAP = MA(OHLC, current_days)
// VWAP Example for Comparison
current_days = BarsSince("start_of_period")
HLC3 = (High + Low + Close) / 3
VWAP = Sum(HLC3 * Volume, current_days) / Sum(Volume, current_days)
// TrueWAP (Anchored)
current_days = BarsSince("start_of_period") // Count of bars since the period began
first_bar = (current_days == 0) // Boolean flag that is true if current bar is the first of period
hilo_mid = (High + Low) / 2 // For the first bar, use its simple high/low avg
max_val = max(Close , High) // For subsequent bars, TrueRange high
min_val = min(Close , Low) // For subsequent bars, TrueRange low
true_mid = (max_val + min_val) / 2 // True Range midpoint for subsequent bars
// Use hilo_mid and (High - Low) for the first bar; otherwise, use true_mid and True Range
mid_val = IF(first_bar, hilo_mid, true_mid)
range_val = IF(first_bar, (High - Low), TrueRange)
TrueWAP = Sum(mid_val * range_val, current_days) / Sum(range_val, current_days)
Recap: Interpretation
• The first bar uses the simple high-low midpoint and range.
• Subsequent bars use TrueMid and TrueRange based on prior close.
• This ensures the average reflects only the observed volatility and price since the anchor.
A Note on True Range
TrueRange captures the full extent of bar-to-bar volatility as the maximum of:
• High – Low
• |High – Previous Close|
• |Low – Previous Close|
## 2. Segmented Weighted-Average Volatility: A Fixed-Point Multi-Period Approach
### Introduction
Conventional standard deviation calculations aggregate data over an expanding window and rely on a single mean, producing one summary statistic. This can obscure segmented, sequential datasets—such as MTD, QTD, and YTD—where additional granularity and time-sensitive insights matter.
This methodology isolates standard deviation within defined time frames and then proportionally allocates them based on custom lookback criteria. The result is a dynamic, multi-period normalization benchmark that captures both emerging volatility and historical stability.
Note: While this example uses SD, the same fixed-point approach applies to MAD and ATR (scaled).
### 2.1 Standard Deviation (Rolling Window)
pseudocode
// -- STANDARD DEVIATION (ROLLING) Calculation --
window_size = 20
rolling_SD = STDDEV(Close, window_size)
• Ideal for immediate trading insights.
• Reflects pure, short-term price dynamics.
• Captures volatility using the most recent 20 trading days.
### 2.2 Blended SD: Current + 3 Past Periods
This method fuses current month data with the last three complete months.
pseudocode
// -- MULTI-PERIOD STANDARD DEVIATION (PROXY) with Three Past Periods --
current_days = BarsSince("start_of_month")
current_SD = STDDEV(Close, current_days)
prev1_days = TradingDaysLastMonth
prev1_SD = STDDEV_LastMonth(Close)
prev2_days = TradingDaysTwoMonthsAgo
prev2_SD = STDDEV_TwoMonthsAgo(Close)
prev3_days = TradingDaysThreeMonthsAgo
prev3_SD = STDDEV_ThreeMonthsAgo(Close)
// Blending with Proportional Weights
Weighted_SD = (current_SD * current_days +
prev1_SD * prev1_days +
prev2_SD * prev2_days +
prev3_SD * prev3_days) /
(current_days + prev1_days + prev2_days + prev3_days)
• Merges evolving volatility with the stability of three prior months.
• Weights each period by its trading days.
• Yields a robust normalization benchmark.
### 2.3 Blended SD: Current + 1 Past Period
This variant tempers emerging volatility by blending the current month with last month only.
pseudocode
// -- MULTI-PERIOD STANDARD DEVIATION (PROXY) with One Past Period --
current_days = BarsSince("start_of_month")
current_SD = STDDEV(Close, current_days)
prev1_days = TradingDaysLastMonth
prev1_SD = STDDEV_LastMonth(Close)
// Proportional Blend
Weighted_SD = (current_SD * current_days +
prev1_SD * prev1_days) /
(current_days + prev1_days)
• Anchors current volatility to last month’s baseline.
• Softens spikes by blending with historical data.
Conclusion
Segmented weighted-average volatility transforms global benchmarking by integrating immediate market dynamics with enduring historical context. This fixed-point approach—applicable to SD, MAD (scaled), and ATR (scaled)—delivers time-sensitive analysis.
Custom ZigZag IndicatorOverview
The Custom ZigZag Indicator is a technical analysis tool built in Pine Script (version 5) for TradingView. It overlays on price charts to visualize market trends by connecting significant swing highs and lows, filtering out minor price noise. This helps identify the overall market direction (uptrends or downtrends), potential reversal points, and key support/resistance levels. Unlike standard price lines, it "zigzags" only between meaningful pivots, making trends clearer.
Core Logic and How It Works
The script uses a state-machine approach to track market direction and pivots:
Initialization
Starts assuming an upward trend on the first bar.
sets initial high/low prices and bar indices based on the current bar's high/low.
Direction Tracking:
Upward Trend (direction = 1):
Monitors for new highs: If the current high exceeds the tracked high, update the high price and bar.
Checks for reversal: If the low drops below the high by the deviation percentage (e.g., high * (1 - 0.05) for 5%), it signals a downtrend reversal.
Draws a green line from the last pivot (low) to the new high.
If labels are enabled, adds a label: "HH" (Higher High if above previous high), "LH" (Lower High if below), or "H" (for the first one).
Updates the last high and switches to downward direction.
Downward Trend (direction = -1):
Monitors for new lows: If the current low is below the tracked low, update the low price and bar.
Checks for reversal: If the high rises above the low by the deviation percentage (e.g., low * (1 + 0.05)), it signals an uptrend reversal.
Draws a red line from the last pivot (high) to the new low.
If labels are enabled, adds a label: "LL" (Lower Low if below previous low), "HL" (Higher Low if above), or "L" (for the first one).
Updates the last low and switches to upward direction.
Simple Breakout Zones MTFSimple Breakout Zones MTF
Overview
The "Simple Breakout Zones MTF" indicator is designed to help traders identify key breakout and rejection zones using multi-timeframe (MTF) analysis. By calculating high and low zones based on both close and high/low data, this indicator provides a comprehensive view of market movements. It is ideal for traders looking to spot potential trend reversals, breakouts, or rejections with added flexibility through MTF support and customizable tolerance modes.
Key Features
Multi-Timeframe (MTF) Support: Analyze data from different timeframes for both Close Mode and HL (High/Low) Mode to gain a broader market perspective.
Tolerance Modes: Choose from three tolerance options—ATR, Percent, or Fixed—to adjust the sensitivity of breakout and rejection signals.
Zone Visualization: Easily identify high and low zones with filled areas, making it simple to spot potential breakout or rejection levels.
Breakout and Rejection Detection: Detects breakouts and rejections for both Close and HL modes, with specific conditions to ensure accurate signals.
Custom Alerts: Set up alerts for various scenarios, including when both modes agree on a breakout or rejection, or when only one mode triggers a signal.
Multi-Timeframe (MTF) and Higher Timeframe (HTF) Utility
The Multi-Timeframe (MTF) and Higher Timeframe (HTF) modes are powerful features that significantly enhance the indicator’s versatility and effectiveness. By enabling MTF/HTF analysis, traders can integrate data from multiple timeframes—such as daily, weekly, or monthly—into a single chart, regardless of the timeframe they are currently viewing. This capability is invaluable for understanding the bigger picture of market behavior. For instance, a trader working on a 15-minute chart can leverage HTF data from a daily chart to identify overarching trends, critical support and resistance levels, or potential reversal zones that would otherwise remain hidden on shorter timeframes. This multi-layered perspective is especially beneficial for swing traders, position traders, or anyone employing strategies that require alignment with longer-term market movements.
Additionally, the MTF/HTF functionality allows traders to filter out noise and false signals often present in lower timeframes. For example, a breakout signal on a 1-hour chart gains greater significance when confirmed by HTF analysis showing a similar breakout on a 4-hour or daily timeframe. This confluence increases confidence in trade setups and reduces the likelihood of acting on fleeting market fluctuations. Whether used to spot macro trends, validate trade entries, or time exits with precision, the MTF/HTF modes make this indicator a robust tool for adapting to various trading styles and market conditions.
Non-Repainting Indicator
A standout advantage of this indicator is its non-repainting nature, which applies fully to the MTF and HTF modes. Unlike repainting indicators that retroactively alter their signals, this indicator locks in its calculated levels and zones once a bar closes on the chosen timeframe—whether it’s the current chart’s timeframe or a higher one selected via MTF/HTF settings. This reliability is critical for traders who depend on consistent historical data for strategy development and backtesting. For example, a support zone identified on a daily timeframe using HTF mode will remain unchanged in the past, present, and future, ensuring that what you see in a backtest mirrors what you would have experienced in real-time trading. This non-repainting feature fosters trust in the indicator’s signals, making it a dependable choice for both discretionary and systematic traders seeking accurate, reproducible results.
How It Works
The indicator calculates the highest and lowest values over a specified period (length) for both close prices (Close Mode) and high/low prices (HL Mode). These calculations can be performed on the current timeframe or a higher timeframe using MTF settings. The high and low zones are created by taking the maximum and minimum of the Close and HL levels, respectively.
Breakouts: A breakout occurs when the price closes beyond the calculated levels for both modes or just one, depending on the alert condition.
Rejections: A rejection is detected when the price touches the zone but fails to close beyond it, indicating potential resistance or support.
Tolerance is applied to the rejection logic to account for minor price fluctuations and can be customized using ATR, a percentage of the price, or a fixed value.
Usage Instructions
1. Input Settings
Use MTF for Close Mode?: Enable this option to analyze Close Mode data from a higher timeframe. When enabled, the indicator will use the specified 'Close Mode Timeframe' for calculations.
Close Mode Timeframe: Select the timeframe for Close Mode analysis (e.g., 'D' for daily). This allows you to incorporate longer-term close price data into your analysis.
Use MTF for HL Mode?: Enable this option to analyze HL (High/Low) Mode data from a higher timeframe. When enabled, the indicator will use the specified 'HL Mode Timeframe' for calculations.
HL Mode Timeframe: Select the timeframe for HL Mode analysis. This enables you to consider longer-term high and low price levels.
Source: Choose the data source for calculations (default is 'close').
Length: Set the lookback period for calculating the highest and lowest values.
Tolerance Mode: Select how tolerance is calculated—'ATR', 'Percent', or 'Fixed'.
ATR Length: Set the ATR period if using ATR tolerance.
ATR Multiplier: Adjust the multiplier for ATR-based tolerance.
Tolerance % of Price: Set the percentage for Percent tolerance.
Fixed Tolerance (Points): Set a fixed tolerance value in points.
2. Visual Elements
High Zone: A filled area (aqua) between the highest levels of Close Max and HL Max.
Low Zone: A filled area (orange) between the lowest levels of Close Min and HL Min.
Close Max/Min: Green and red crosses indicating the highest and lowest close prices over the specified length.
HL Max/Min: Green and red crosses indicating the highest high and lowest low prices over the specified length.
3. Alerts
The indicator provides several alert conditions to notify you of potential trading opportunities:
Both Modes New High: Triggers when both Close and HL modes agree on a new high, indicating a strong breakout signal upward.
Both Modes New Low: Triggers when both modes agree on a new low, indicating a strong breakout signal downward.
Both Modes Rejection: Triggers when both modes agree on a rejection, suggesting strong resistance or support.
Close Mode New High: Triggers when only Close Mode indicates a new high, useful for early breakout signals upward.
Close Mode New Low: Triggers when only Close Mode indicates a new low, useful for early breakout signals downward.
Weak Rejection Up: Triggers when only one mode indicates a rejection upward, signaling a weaker but noteworthy resistance.
Weak Rejection Down: Triggers when only one mode indicates a rejection downward, signaling a weaker but noteworthy support.
Why Use This Indicator?
Enhanced Market Insight: Combining data from multiple timeframes and modes provides a more complete picture of market dynamics.
Customizable Sensitivity: Adjust tolerance settings to fine-tune the indicator for different market conditions or trading styles.
Clear Visual Cues: Filled zones and plotted levels make it easy to spot key areas of interest on the chart.
Versatile Alerts: Tailor alerts to capture both strong and subtle market movements, ensuring you never miss a potential opportunity.
Reliable Signals: The non-repainting nature of the indicator ensures that the signals and zones are consistent and trustworthy, both in backtesting and live trading.
Initial balance - weeklyWeekly Initial Balance (IB) — Indicator Description
The Weekly Initial Balance (IB) is the price range (High–Low) established during the week’s first trading session (most commonly Monday). You can measure it over the entire day or just the first X hours (e.g. 60 or 120 minutes). Once that session ends, the IB High and IB Low define the key levels where the initial weekly range formed.
Why Measure the Weekly IB?
Week-Opening Sentiment:
Monday’s range often sets the tone for the rest of the week. Trading above the IB High signals bullish control; trading below the IB Low signals bearish control.
Key Liquidity Zones:
Large institutions tend to place orders around these extremes, so you’ll frequently see tests, breakouts, or rejections at these levels.
Support & Resistance:
The IB High and IB Low become natural barriers. Price will often return to them, bounce off them, or break through them—ideal spots for entries and exits.
Volatility Forecast:
The width of the IB (High minus Low) indicates whether to expect a volatile week (wide IB) or a quieter one (narrow IB).
Significance of IB Levels
Breakout:
A clear break above the IB High (for longs) or below the IB Low (for shorts) can ignite a strong trending move.
Fade:
A rejection off the IB High/Low during low momentum (e.g. low volume or pin-bar formations) offers a high-probability reversal trade.
Mid-Point:
The 50% level of the IB range often “magnetizes” price back to it, providing entry points for continuation or reversal strategies.
Three Core Monday IB Strategies
A. Breakout (Open-Range Breakout)
Entry: Wait for 1–2 candles (e.g. 5-minute) to close above IB High (long) or below IB Low (short).
Stop-Loss: A few pips below IB High (long) or above IB Low (short).
Profit-Target: 2–3× your risk (Reward:Risk ≥ 2:1).
Best When: You spot a clear impulse—such as a strong pre-open volume spike or news-driven move.
B. Fade (Reversal at Extremes)
Entry: When price tests IB High but shows weakening momentum (shrinking volume, upper-wick candles), enter short; vice versa for IB Low and longs.
Stop-Loss: Just beyond the IB extreme you’re fading.
Profit-Target: Back toward the IB mid-point (50% level) or all the way to the opposite IB extreme.
Best When: Monday’s action is range-bound and lacks a clear directional trend.
C. Mid-Point Trading
Entry: When price returns to the 50% level of the IB range.
In an up-trend: buy if it bounces off mid-point back toward IB High.
In a down-trend: sell if it reverses off mid-point back toward IB Low.
Stop-Loss: Just below the nearest swing-low (for longs) or above the nearest swing-high (for shorts).
Profit-Target: To the corresponding IB extreme (High or Low).
Best When: You see a strong initial move away from the IB, followed by a pullback to the mid-point.
Usage Steps
Configure your session: Measure IB over your chosen Monday timeframe (whole day or first X hours).
Choose your strategy: Align Breakout, Fade, or Mid-Point entries with the current market context (trend vs. range).
Manage risk: Keep risk per trade ≤ 1% of account and maintain at least a 2:1 Reward:Risk ratio.
Backtest & forward-test: Verify performance over multiple Mondays and in a paper-trading environment before going live.
Trend Gauge [BullByte]Trend Gauge
Summary
A multi-factor trend detection indicator that aggregates EMA alignment, VWMA momentum scaling, volume spikes, ATR breakout strength, higher-timeframe confirmation, ADX-based regime filtering, and RSI pivot-divergence penalty into one normalized trend score. It also provides a confidence meter, a Δ Score momentum histogram, divergence highlights, and a compact, scalable dashboard for at-a-glance status.
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## 1. Purpose of the Indicator
Why this was built
Traders often monitor several indicators in parallel - EMAs, volume signals, volatility breakouts, higher-timeframe trends, ADX readings, divergence alerts, etc., which can be cumbersome and sometimes contradictory. The “Trend Gauge” indicator was created to consolidate these complementary checks into a single, normalized score that reflects the prevailing market bias (bullish, bearish, or neutral) and its strength. By combining multiple inputs with an adaptive regime filter, scaling contributions by magnitude, and penalizing weakening signals (divergence), this tool aims to reduce noise, highlight genuine trend opportunities, and warn when momentum fades.
Key Design Goals
Signal Aggregation
Merged trend-following signals (EMA crossover, ATR breakout, higher-timeframe confirmation) and momentum signals (VWMA thrust, volume spikes) into a unified score that reflects directional bias more holistically.
Market Regime Awareness
Implemented an ADX-style filter to distinguish between trending and ranging markets, reducing the influence of trend signals during sideways phases to avoid false breakouts.
Magnitude-Based Scaling
Replaced binary contributions with scaled inputs: VWMA thrust and ATR breakout are weighted relative to recent averages, allowing for more nuanced score adjustments based on signal strength.
Momentum Divergence Penalty
Integrated pivot-based RSI divergence detection to slightly reduce the overall score when early signs of momentum weakening are detected, improving risk-awareness in entries.
Confidence Transparency
Added a live confidence metric that shows what percentage of enabled sub-indicators currently agree with the overall bias, making the scoring system more interpretable.
Momentum Acceleration Visualization
Plotted the change in score (Δ Score) as a histogram bar-to-bar, highlighting whether momentum is increasing, flattening, or reversing, aiding in more timely decision-making.
Compact Informational Dashboard
Presented a clean, scalable dashboard that displays each component’s status, the final score, confidence %, detected regime (Trending/Ranging), and a labeled strength gauge for quick visual assessment.
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## 2. Why a Trader Should Use It
Main benefits and use cases
1. Unified View: Rather than juggling multiple windows or panels, this indicator delivers a single score synthesizing diverse signals.
2. Regime Filtering: In ranging markets, trend signals often generate false entries. The ADX-based regime filter automatically down-weights trend-following components, helping you avoid chasing false breakouts.
3. Nuanced Momentum & Volatility: VWMA and ATR breakout contributions are normalized by recent averages, so strong moves register strongly while smaller fluctuations are de-emphasized.
4. Early Warning of Weakening: Pivot-based RSI divergence is detected and used to slightly reduce the score when price/momentum diverges, giving a cautionary signal before a full reversal.
5. Confidence Meter: See at a glance how many sub-indicators align with the aggregated bias (e.g., “80% confidence” means 4 out of 5 components agree ). This transparency avoids black-box decisions.
6. Trend Acceleration/Deceleration View: The Δ Score histogram visualizes whether the aggregated score is rising (accelerating trend) or falling (momentum fading), supplementing the main oscillator.
7. Compact Dashboard: A corner table lists each check’s status (“Bull”, “Bear”, “Flat” or “Disabled”), plus overall Score, Confidence %, Regime, Trend Strength label, and a gauge bar. Users can scale text size (Normal, Small, Tiny) without removing elements, so the full picture remains visible even in compact layouts.
8. Customizable & Transparent: All components can be enabled/disabled and parameterized (lengths, thresholds, weights). The full Pine code is open and well-commented, letting users inspect or adapt the logic.
9. Alert-ready: Built-in alert conditions fire when the score crosses weak thresholds to bullish/bearish or returns to neutral, enabling timely notifications.
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## 3. Component Rationale (“Why These Specific Indicators?”)
Each sub-component was chosen because it adds complementary information about trend or momentum:
1. EMA Cross
o Basic trend measure: compares a faster EMA vs. a slower EMA. Quickly reflects trend shifts but by itself can whipsaw in sideways markets.
2. VWMA Momentum
o Volume-weighted moving average change indicates momentum with volume context. By normalizing (dividing by a recent average absolute change), we capture the strength of momentum relative to recent history. This scaling prevents tiny moves from dominating and highlights genuinely strong momentum.
3. Volume Spikes
o Sudden jumps in volume combined with price movement often accompany stronger moves or reversals. A binary detection (+1 for bullish spike, -1 for bearish spike) flags high-conviction bars.
4. ATR Breakout
o Detects price breaking beyond recent highs/lows by a multiple of ATR. Measures breakout strength by how far beyond the threshold price moves relative to ATR, capped to avoid extreme outliers. This gives a volatility-contextual trend signal.
5. Higher-Timeframe EMA Alignment
o Confirms whether the shorter-term trend aligns with a higher timeframe trend. Uses request.security with lookahead_off to avoid future data. When multiple timeframes agree, confidence in direction increases.
6. ADX Regime Filter (Manual Calculation)
o Computes directional movement (+DM/–DM), smoothes via RMA, computes DI+ and DI–, then a DX and ADX-like value. If ADX ≥ threshold, market is “Trending” and trend components carry full weight; if ADX < threshold, “Ranging” mode applies a configurable weight multiplier (e.g., 0.5) to trend-based contributions, reducing false signals in sideways conditions. Volume spikes remain binary (optional behavior; can be adjusted if desired).
7. RSI Pivot-Divergence Penalty
o Uses ta.pivothigh / ta.pivotlow with a lookback to detect pivot highs/lows on price and corresponding RSI values. When price makes a higher high but RSI makes a lower high (bearish divergence), or price makes a lower low but RSI makes a higher low (bullish divergence), a divergence signal is set. Rather than flipping the trend outright, the indicator subtracts (or adds) a small penalty (configurable) from the aggregated score if it would weaken the current bias. This subtle adjustment warns of weakening momentum without overreacting to noise.
8. Confidence Meter
o Counts how many enabled components currently agree in direction with the aggregated score (i.e., component sign × score sign > 0). Displays this as a percentage. A high percentage indicates strong corroboration; a low percentage warns of mixed signals.
9. Δ Score Momentum View
o Plots the bar-to-bar change in the aggregated score (delta_score = score - score ) as a histogram. When positive, bars are drawn in green above zero; when negative, bars are drawn in red below zero. This reveals acceleration (rising Δ) or deceleration (falling Δ), supplementing the main oscillator.
10. Dashboard
• A table in the indicator pane’s top-right with 11 rows:
1. EMA Cross status
2. VWMA Momentum status
3. Volume Spike status
4. ATR Breakout status
5. Higher-Timeframe Trend status
6. Score (numeric)
7. Confidence %
8. Regime (“Trending” or “Ranging”)
9. Trend Strength label (e.g., “Weak Bullish Trend”, “Strong Bearish Trend”)
10. Gauge bar visually representing score magnitude
• All rows always present; size_opt (Normal, Small, Tiny) only changes text size via text_size, not which elements appear. This ensures full transparency.
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## 4. What Makes This Indicator Stand Out
• Regime-Weighted Multi-Factor Score: Trend and momentum signals are adaptively weighted by market regime (trending vs. ranging) , reducing false signals.
• Magnitude Scaling: VWMA and ATR breakout contributions are normalized by recent average momentum or ATR, giving finer gradation compared to simple ±1.
• Integrated Divergence Penalty: Divergence directly adjusts the aggregated score rather than appearing as a separate subplot; this influences alerts and trend labeling in real time.
• Confidence Meter: Shows the percentage of sub-signals in agreement, providing transparency and preventing blind trust in a single metric.
• Δ Score Histogram Momentum View: A histogram highlights acceleration or deceleration of the aggregated trend score, helping detect shifts early.
• Flexible Dashboard: Always-visible component statuses and summary metrics in one place; text size scaling keeps the full picture available in cramped layouts.
• Lookahead-Safe HTF Confirmation: Uses lookahead_off so no future data is accessed from higher timeframes, avoiding repaint bias.
• Repaint Transparency: Divergence detection uses pivot functions that inherently confirm only after lookback bars; description documents this lag so users understand how and when divergence labels appear.
• Open-Source & Educational: Full, well-commented Pine v6 code is provided; users can learn from its structure: manual ADX computation, conditional plotting with series = show ? value : na, efficient use of table.new in barstate.islast, and grouped inputs with tooltips.
• Compliance-Conscious: All plots have descriptive titles; inputs use clear names; no unnamed generic “Plot” entries; manual ADX uses RMA; all request.security calls use lookahead_off. Code comments mention repaint behavior and limitations.
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## 5. Recommended Timeframes & Tuning
• Any Timeframe: The indicator works on small (e.g., 1m) to large (daily, weekly) timeframes. However:
o On very low timeframes (<1m or tick charts), noise may produce frequent whipsaws. Consider increasing smoothing lengths, disabling certain components (e.g., volume spike if volume data noisy), or using a larger pivot lookback for divergence.
o On higher timeframes (daily, weekly), consider longer lookbacks for ATR breakout or divergence, and set Higher-Timeframe trend appropriately (e.g., 4H HTF when on 5 Min chart).
• Defaults & Experimentation: Default input values are chosen to be balanced for many liquid markets. Users should test with replay or historical analysis on their symbol/timeframe and adjust:
o ADX threshold (e.g., 20–30) based on instrument volatility.
o VWMA and ATR scaling lengths to match average volatility cycles.
o Pivot lookback for divergence: shorter for faster markets, longer for slower ones.
• Combining with Other Analysis: Use in conjunction with price action, support/resistance, candlestick patterns, order flow, or other tools as desired. The aggregated score and alerts can guide attention but should not be the sole decision-factor.
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## 6. How Scoring and Logic Works (Step-by-Step)
1. Compute Sub-Scores
o EMA Cross: Evaluate fast EMA > slow EMA ? +1 : fast EMA < slow EMA ? -1 : 0.
o VWMA Momentum: Calculate vwma = ta.vwma(close, length), then vwma_mom = vwma - vwma . Normalize: divide by recent average absolute momentum (e.g., ta.sma(abs(vwma_mom), lookback)), clip to .
o Volume Spike: Compute vol_SMA = ta.sma(volume, len). If volume > vol_SMA * multiplier AND price moved up ≥ threshold%, assign +1; if moved down ≥ threshold%, assign -1; else 0.
o ATR Breakout: Determine recent high/low over lookback. If close > high + ATR*mult, compute distance = close - (high + ATR*mult), normalize by ATR, cap at a configured maximum. Assign positive contribution. Similarly for bearish breakout below low.
o Higher-Timeframe Trend: Use request.security(..., lookahead=barmerge.lookahead_off) to fetch HTF EMAs; assign +1 or -1 based on alignment.
2. ADX Regime Weighting
o Compute manual ADX: directional movements (+DM, –DM), smoothed via RMA, DI+ and DI–, then DX and ADX via RMA. If ADX ≥ threshold, market is considered “Trending”; otherwise “Ranging.”
o If trending, trend-based contributions (EMA, VWMA, ATR, HTF) use full weight = 1.0. If ranging, use weight = ranging_weight (e.g., 0.5) to down-weight them. Volume spike stays binary ±1 (optional to change if desired).
3. Aggregate Raw Score
o Sum weighted contributions of all enabled components. Count the number of enabled components; if zero, default count = 1 to avoid division by zero.
4. Divergence Penalty
o Detect pivot highs/lows on price and corresponding RSI values, using a lookback. When price and RSI diverge (bearish or bullish divergence), check if current raw score is in the opposing direction:
If bearish divergence (price higher high, RSI lower high) and raw score currently positive, subtract a penalty (e.g., 0.5).
If bullish divergence (price lower low, RSI higher low) and raw score currently negative, add a penalty.
o This reduces score magnitude to reflect weakening momentum, without flipping the trend outright.
5. Normalize and Smooth
o Normalized score = (raw_score / number_of_enabled_components) * 100. This yields a roughly range.
o Optional EMA smoothing of this normalized score to reduce noise.
6. Interpretation
o Sign: >0 = net bullish bias; <0 = net bearish bias; near zero = neutral.
o Magnitude Zones: Compare |score| to thresholds (Weak, Medium, Strong) to label trend strength (e.g., “Weak Bullish Trend”, “Medium Bearish Trend”, “Strong Bullish Trend”).
o Δ Score Histogram: The histogram bars from zero show change from previous bar’s score; positive bars indicate acceleration, negative bars indicate deceleration.
o Confidence: Percentage of sub-indicators aligned with the score’s sign.
o Regime: Indicates whether trend-based signals are fully weighted or down-weighted.
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## 7. Oscillator Plot & Visualization: How to Read It
Main Score Line & Area
The oscillator plots the aggregated score as a line, with colored fill: green above zero for bullish area, red below zero for bearish area. Horizontal reference lines at ±Weak, ±Medium, and ±Strong thresholds mark zones: crossing above +Weak suggests beginning of bullish bias, above +Medium for moderate strength, above +Strong for strong trend; similarly for bearish below negative thresholds.
Δ Score Histogram
If enabled, a histogram shows score - score . When positive, bars appear in green above zero, indicating accelerating bullish momentum; when negative, bars appear in red below zero, indicating decelerating or reversing momentum. The height of each bar reflects the magnitude of change in the aggregated score from the prior bar.
Divergence Highlight Fill
If enabled, when a pivot-based divergence is confirmed:
• Bullish Divergence : fill the area below zero down to –Weak threshold in green, signaling potential reversal from bearish to bullish.
• Bearish Divergence : fill the area above zero up to +Weak threshold in red, signaling potential reversal from bullish to bearish.
These fills appear with a lag equal to pivot lookback (the number of bars needed to confirm the pivot). They do not repaint after confirmation, but users must understand this lag.
Trend Direction Label
When score crosses above or below the Weak threshold, a small label appears near the score line reading “Bullish” or “Bearish.” If the score returns within ±Weak, the label “Neutral” appears. This helps quickly identify shifts at the moment they occur.
Dashboard Panel
In the indicator pane’s top-right, a table shows:
1. EMA Cross status: “Bull”, “Bear”, “Flat”, or “Disabled”
2. VWMA Momentum status: similarly
3. Volume Spike status: “Bull”, “Bear”, “No”, or “Disabled”
4. ATR Breakout status: “Bull”, “Bear”, “No”, or “Disabled”
5. Higher-Timeframe Trend status: “Bull”, “Bear”, “Flat”, or “Disabled”
6. Score: numeric value (rounded)
7. Confidence: e.g., “80%” (colored: green for high, amber for medium, red for low)
8. Regime: “Trending” or “Ranging” (colored accordingly)
9. Trend Strength: textual label based on magnitude (e.g., “Medium Bullish Trend”)
10. Gauge: a bar of blocks representing |score|/100
All rows remain visible at all times; changing Dashboard Size only scales text size (Normal, Small, Tiny).
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## 8. Example Usage (Illustrative Scenario)
Example: BTCUSD 5 Min
1. Setup: Add “Trend Gauge ” to your BTCUSD 5 Min chart. Defaults: EMAs (8/21), VWMA 14 with lookback 3, volume spike settings, ATR breakout 14/5, HTF = 5m (or adjust to 4H if preferred), ADX threshold 25, ranging weight 0.5, divergence RSI length 14 pivot lookback 5, penalty 0.5, smoothing length 3, thresholds Weak=20, Medium=50, Strong=80. Dashboard Size = Small.
2. Trend Onset: At some point, price breaks above recent high by ATR multiple, volume spikes upward, faster EMA crosses above slower EMA, HTF EMA also bullish, and ADX (manual) ≥ threshold → aggregated score rises above +20 (Weak threshold) into +Medium zone. Dashboard shows “Bull” for EMA, VWMA, Vol Spike, ATR, HTF; Score ~+60–+70; Confidence ~100%; Regime “Trending”; Trend Strength “Medium Bullish Trend”; Gauge ~6–7 blocks. Δ Score histogram bars are green and rising, indicating accelerating bullish momentum. Trader notes the alignment.
3. Divergence Warning: Later, price makes a slightly higher high but RSI fails to confirm (lower RSI high). Pivot lookback completes; the indicator highlights a bearish divergence fill above zero and subtracts a small penalty from the score, causing score to stall or retrace slightly. Dashboard still bullish but score dips toward +Weak. This warns the trader to tighten stops or take partial profits.
4. Trend Weakens: Score eventually crosses below +Weak back into neutral; a “Neutral” label appears, and a “Neutral Trend” alert fires if enabled. Trader exits or avoids new long entries. If score subsequently crosses below –Weak, a “Bearish” label and alert occur.
5. Customization: If the trader finds VWMA noise too frequent on this instrument, they may disable VWMA or increase lookback. If ATR breakouts are too rare, adjust ATR length or multiplier. If ADX threshold seems off, tune threshold. All these adjustments are explained in Inputs section.
6. Visualization: The screenshot shows the main score oscillator with colored areas, reference lines at ±20/50/80, Δ Score histogram bars below/above zero, divergence fill highlighting potential reversal, and the dashboard table in the top-right.
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## 9. Inputs Explanation
A concise yet clear summary of inputs helps users understand and adjust:
1. General Settings
• Theme (Dark/Light): Choose background-appropriate colors for the indicator pane.
• Dashboard Size (Normal/Small/Tiny): Scales text size only; all dashboard elements remain visible.
2. Indicator Settings
• Enable EMA Cross: Toggle on/off basic EMA alignment check.
o Fast EMA Length and Slow EMA Length: Periods for EMAs.
• Enable VWMA Momentum: Toggle VWMA momentum check.
o VWMA Length: Period for VWMA.
o VWMA Momentum Lookback: Bars to compare VWMA to measure momentum.
• Enable Volume Spike: Toggle volume spike detection.
o Volume SMA Length: Period to compute average volume.
o Volume Spike Multiplier: How many times above average volume qualifies as spike.
o Min Price Move (%): Minimum percent change in price during spike to qualify as bullish or bearish.
• Enable ATR Breakout: Toggle ATR breakout detection.
o ATR Length: Period for ATR.
o Breakout Lookback: Bars to look back for recent highs/lows.
o ATR Multiplier: Multiplier for breakout threshold.
• Enable Higher Timeframe Trend: Toggle HTF EMA alignment.
o Higher Timeframe: E.g., “5” for 5-minute when on 1-minute chart, or “60” for 5 Min when on 15m, etc. Uses lookahead_off.
• Enable ADX Regime Filter: Toggles regime-based weighting.
o ADX Length: Period for manual ADX calculation.
o ADX Threshold: Value above which market considered trending.
o Ranging Weight Multiplier: Weight applied to trend components when ADX < threshold (e.g., 0.5).
• Scale VWMA Momentum: Toggle normalization of VWMA momentum magnitude.
o VWMA Mom Scale Lookback: Period for average absolute VWMA momentum.
• Scale ATR Breakout Strength: Toggle normalization of breakout distance by ATR.
o ATR Scale Cap: Maximum multiple of ATR used for breakout strength.
• Enable Price-RSI Divergence: Toggle divergence detection.
o RSI Length for Divergence: Period for RSI.
o Pivot Lookback for Divergence: Bars on each side to identify pivot high/low.
o Divergence Penalty: Amount to subtract/add to score when divergence detected (e.g., 0.5).
3. Score Settings
• Smooth Score: Toggle EMA smoothing of normalized score.
• Score Smoothing Length: Period for smoothing EMA.
• Weak Threshold: Absolute score value under which trend is considered weak or neutral.
• Medium Threshold: Score above Weak but below Medium is moderate.
• Strong Threshold: Score above this indicates strong trend.
4. Visualization Settings
• Show Δ Score Histogram: Toggle display of the bar-to-bar change in score as a histogram. Default true.
• Show Divergence Fill: Toggle background fill highlighting confirmed divergences. Default true.
Each input has a tooltip in the code.
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## 10. Limitations, Repaint Notes, and Disclaimers
10.1. Repaint & Lag Considerations
• Pivot-Based Divergence Lag: The divergence detection uses ta.pivothigh / ta.pivotlow with a specified lookback. By design, a pivot is only confirmed after the lookback number of bars. As a result:
o Divergence labels or fills appear with a delay equal to the pivot lookback.
o Once the pivot is confirmed and the divergence is detected, the fill/label does not repaint thereafter, but you must understand and accept this lag.
o Users should not treat divergence highlights as predictive signals without additional confirmation, because they appear after the pivot has fully formed.
• Higher-Timeframe EMA Alignment: Uses request.security(..., lookahead=barmerge.lookahead_off), so no future data from the higher timeframe is used. This avoids lookahead bias and ensures signals are based only on completed higher-timeframe bars.
• No Future Data: All calculations are designed to avoid using future information. For example, manual ADX uses RMA on past data; security calls use lookahead_off.
10.2. Market & Noise Considerations
• In very choppy or low-liquidity markets, some components (e.g., volume spikes or VWMA momentum) may be noisy. Users can disable or adjust those components’ parameters.
• On extremely low timeframes, noise may dominate; consider smoothing lengths or disabling certain features.
• On very high timeframes, pivots and breakouts occur less frequently; adjust lookbacks accordingly to avoid sparse signals.
10.3. Not a Standalone Trading System
• This is an indicator, not a complete trading strategy. It provides signals and context but does not manage entries, exits, position sizing, or risk management.
• Users must combine it with their own analysis, money management, and confirmations (e.g., price patterns, support/resistance, fundamental context).
• No guarantees: past behavior does not guarantee future performance.
10.4. Disclaimers
• Educational Purposes Only: The script is provided as-is for educational and informational purposes. It does not constitute financial, investment, or trading advice.
• Use at Your Own Risk: Trading involves risk of loss. Users should thoroughly test and use proper risk management.
• No Guarantees: The author is not responsible for trading outcomes based on this indicator.
• License: Published under Mozilla Public License 2.0; code is open for viewing and modification under MPL terms.
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## 11. Alerts
• The indicator defines three alert conditions:
1. Bullish Trend: when the aggregated score crosses above the Weak threshold.
2. Bearish Trend: when the score crosses below the negative Weak threshold.
3. Neutral Trend: when the score returns within ±Weak after being outside.
Good luck
– BullByte
Engulfing Candles with Liquidity SweepOverview
The Engulfing Candles with Liquidity Sweep indicator is designed to highlight high- and low-probability engulfing candle patterns, incorporating liquidity sweep logic for enhanced price action analysis. This script visually marks bullish and bearish engulfing events, differentiating between high-probability and low-probability setups, and plots key Fibonacci levels for each event.
🔶 USAGE
This indicator is ideal for traders seeking to identify potential reversal or continuation points based on engulfing candle patterns and liquidity sweeps. High-probability signals are based on strict engulfing and sweep criteria, while low-probability signals offer additional context for nuanced price action.
• High Probability Engulfing:
Highlights strong bullish or bearish engulfing candles that also sweep the previous candle’s high or low, suggesting a significant shift in market sentiment.
• Low Probability Engulfing:
Marks less strict engulfing patterns where the close remains within the previous candle’s range, providing early signals for potential reversals.
• Fibonacci Levels:
For each detected pattern, the script draws a 50% Fibonacci retracement line, helping traders identify potential retracement or reaction zones.
🔹 SETTINGS
• High Probability Engulfing Settings:
• Customizable colors, line styles, and widths for bullish and bearish fib lines
• Option to show/hide fib lines and pattern markers
• Low Probability Engulfing Settings:
• Separate color and style controls for low-probability signals
• Option to show/hide fib lines and pattern markers
• Alerts:
• Built-in alert conditions for all pattern types, enabling automated notifications
🔶 DETAILS
High Probability Bullish Engulfing:
• Previous candle bearish
• Current candle bullish
• Current low sweeps previous low
• Current close above previous high
High Probability Bearish Engulfing:
• Previous candle bullish
• Current candle bearish
• Current high sweeps previous high
• Current close below previous low
Low Probability Bullish Engulfing:
• Previous candle bearish
• Current candle bullish
• Current low sweeps previous low
• Current close between previous open and high
Low Probability Bearish Engulfing:
• Previous candle bullish
• Current candle bearish
• Current high sweeps previous high
• Current close between previous open and low
🔶 NOTES
• The indicator is fully customizable and can be adapted to various trading styles.
• All signals and levels are plotted directly on the chart for easy reference.
• Alerts can be set for any pattern, supporting both discretionary and automated trading approaches.
Disclaimer:This script is for informational and educational purposes only. It does not constitute financial advice. Use at your own risk.
3 Period EMA Cloud [deepakks444]3 Period EMA Cloud Indicator
The 3EMA Cloud Indicator uses three key EMAs to capture trends and display the market's direction through a color-coded cloud. The EMAs used in this indicator are:
High EMA: The EMA of the high prices over a specified period.
Low EMA: The EMA of the low prices over a specified period.
Additional EMA: An extra EMA, typically based on the close prices, that serves as an independent confirmation tool for trend direction.
Indicator Logic and Cloud Visualization:
The cloud is drawn between the high EMA and the low EMA, and its color changes based on the price's relationship to the high EMA, low EMA, and additional EMA.
Cloud Color:
Green Cloud: When the price is above both the high EMA and the low EMA, it signals a bullish trend, and the cloud turns green.
Additionally, if the close price is above the Additional EMA, this further confirms the bullish trend.
Red Cloud: When the price is below both the high EMA and the low EMA, it signals a bearish trend, and the cloud turns red.
Additionally, if the close price is below the Additional EMA, this further confirms the bearish trend.
How the Indicator Captures Trends:
Bullish Market:
Price above both high EMA and low EMA: This indicates that the market is in an uptrend, and the cloud will turn green.
Confirmation with Additional EMA: When the close price is above the Additional EMA, this reinforces the bullish market sentiment.
The green cloud is the visual confirmation of a bullish trend, guiding traders to consider long positions.
Bearish Market:
Price below both high EMA and low EMA: This indicates that the market is in a downtrend, and the cloud will turn red.
Confirmation with Additional EMA: When the close price is below the Additional EMA, this confirms the bearish trend.
The red cloud is the visual confirmation of a bearish trend, guiding traders to consider short positions.
Key Components:
High EMA: Calculates the EMA based on high prices, which helps to determine the upper boundary of the cloud.
Low EMA: Calculates the EMA based on low prices, which helps to determine the lower boundary of the cloud.
Additional EMA: An extra EMA (often of the close prices) that acts as an independent trend confirmation. This is used to validate the market direction and filter out potential false signals.
Use Cases for the 3EMA Cloud:
Trend Identification:
The cloud helps to visually identify the prevailing trend. A green cloud suggests a bullish trend, while a red cloud indicates a bearish trend.
Confirmation Tool:
The Additional EMA serves as an additional confirmation tool. A close price above the Additional EMA signals a strong bullish trend, while a close below it signals a strong bearish trend.
Market Reversals:
When the price moves from above both the high EMA and low EMA to below them (or vice versa), this could indicate a trend reversal. Pay attention to cloud color changes and the movement of the close price relative to the Additional EMA for potential reversal signals.
Entry and Exit Signals:
Long Entry (Buy Signal):
Price is above both the high EMA and low EMA, confirming a bullish trend.
Close price is above the Additional EMA, confirming the bullish trend.
Enter a long position when the cloud turns green and the confirmation by the Additional EMA is in place.
Short Entry (Sell Signal):
Price is below both the high EMA and low EMA, confirming a bearish trend.
Close price is below the Additional EMA, confirming the bearish trend.
Enter a short position when the cloud turns red and the confirmation by the Additional EMA is in place.
Exit Signal:
Exit Long Position when the price moves below both the high EMA and low EMA (signaling a potential trend reversal), or if the close price falls below the Additional EMA.
Exit Short Position when the price moves above both the high EMA and low EMA (signaling a potential trend reversal), or if the close price rises above the Additional EMA.
How This Indicator Improves Trend Following:
The 3EMA Cloud indicator enhances trend-following strategies by:
Visual Clarity: The color-coded cloud provides immediate visual feedback on whether the market is in a bullish or bearish phase.
Price Confirmation: The indicator uses the relationship of price to three EMAs (high, low, and additional) to confirm trend strength, which can help reduce false signals.
Flexibility: The Additional EMA adds flexibility by serving as an independent confirmation tool for trend direction, ensuring that you don’t enter trades based on weak or choppy market conditions.
This 3EMA Cloud indicator is designed to help traders follow and confirm trends with precision, improving their ability to identify strong market movements and avoid getting caught in sideways or choppy conditions. It provides a clear visual cue for potential buy and sell opportunities based on price relative to multiple EMAs, ensuring that trend-following strategies are robust and effective.
Disclaimer:
This script and its associated indicators are for educational purposes only. The information provided does not constitute financial advice or a recommendation to buy or sell any financial instruments. Users are advised to conduct their own research and consult with a professional financial advisor before making any trading decisions. Trading and investing involve risk, and users should be aware of the risks involved in financial markets.
beanBean's Multi-Instrument Pattern Scanner.
This indicator scans H1 timeframe for specific technical patterns. Here's how each pattern is detected:
PATTERN DETECTION CRITERIA:
1. Hammer
- Body Size: ≤ 30% of total candle length
- Lower Wick: > 50% of total candle length
- Upper Wick: < 20% of total candle length
- Formula:
* bodySize = |close - open|
* upperWick = high - max(open, close)
* lowerWick = min(open, close) - low
* totalLength = high - low
2. Shooting Star
- Body Size: ≤ 30% of total candle length
- Upper Wick: > 50% of total candle length
- Lower Wick: < 20% of total candle length
- Uses same measurements as Hammer but inverted
3. Outside/Inside (OI)
Checks three consecutive bars:
- Outside Bar: Bar2 high ≥ Bar3 high AND Bar2 low ≤ Bar3 low
- Inside Bar: Bar1 high ≤ Bar2 high AND Bar1 low ≥ Bar2 low
Pattern confirms when both conditions are met
4. Bullish/Bearish Umbrella
Checks two consecutive bars:
Bullish:
- Current bar's high ≤ previous bar's high
- Current body high ≤ previous bar's high
- Current body low ≥ previous body high
Bearish:
- Current bar's low ≥ previous bar's low
- Current body low ≥ previous bar's low
- Current body high ≤ previous body low
5. Three Bar Triangle (3BT)
Checks three consecutive bars:
- Current bar's high ≤ max(previous two highs)
- Current bar's low ≥ min(previous two lows)
- Indicates price compression
DISPLAY AND ALERTS:
- Patterns are displayed in real-time in the table
- Multiple patterns can be detected simultaneously
- Pattern detection resets each new H1 candle
CONFIGURATION:
- Each row can be independently configured
- Patterns are checked on H1 timeframe close
- Alert frequency: Once per H1 bar close
Note: All measurements use standard OHLC values from only completed H1 candles.
Time Based StatisticsThis indicator is a complex time-based statistics tool for analyzing intraday trading patterns. Here's a comprehensive breakdown:
1. **Session Management**
- Tracks trading sessions from 18:00 to 16:59 next day (using New York time)
- Separates analysis by weekdays (Monday through Friday)
- Resets statistics at week's end
2. **High/Low Time Tracking**
- Records when daily highs and lows occur for each day
- Maintains historical arrays of high/low times for pattern analysis
- Tracks high/low patterns in three main time periods:
- Evening/Overnight (18:00-23:59)
- Early Morning (00:00-09:59)
- Market Hours (10:00-16:59)
3. **Probability Calculations**
The indicator calculates several probabilities:
a) **Hold Probability**
- Calculates likelihood current high/low will remain day's high/low
- Counts how many historical highs/lows occurred in remaining hours
- Returns percentage based on historical patterns
b) **Most Frequent Times**
- Identifies which times most frequently produce highs/lows
- Tracks both primary and secondary (next highest) probable times
- Maintains historical counts of highs/lows by hour
4. **Pattern Analysis**
- Filters historical times based on current time
- Helps predict potential future high/low times
- Adjusts analysis based on time of day
5. **Data Display**
Shows statistics in a table including:
- Days of data analyzed
- Current day's high/low times
- Most frequent times for today's highs/lows
- Probability of current high/low holding
- Historical patterns for current hour
6. **Historical Data Management**
- Stores daily high/low data at week's end
- Maintains separate arrays for each day of the week
- Uses this historical data for pattern analysis
The indicator helps traders by:
- Understanding when highs/lows typically occur
- Assessing probability of new highs/lows
- Identifying historically significant time periods
- Providing statistical basis for timing decisions
TrendPredator ESThe TrendPredator Essential (ES)
Stacey Burke, a seasoned trader and mentor, developed his trading system over the years, drawing insights from influential figures such as George Douglas Taylor, Tony Crabel, Steve Mauro, and Robert Schabacker. His popular system integrates select concepts from these experts into a consistent framework. While powerful, it is highly discretionary, requiring significant real-time analysis, which can be challenging for novice traders.
The TrendPredator ES indicator supports this approach by automating the essential analysis required to trade the system effectively and incorporating a mechanical bias and multi-timeframe concept.
It provides value to traders by significantly reducing the time needed for session preparation and offering relevant chart analysis and signals for live trading through real-time updates and a unique consolidated table format.
The Stacey Burke Master Pattern
Inspired by Taylor’s 3-day cycle and Steve Mauro’s work with “Beat the Market Maker,” Burke’s system views markets as cyclical, driven by the manipulative patterns of market makers. These patterns often trap traders at the extremes of moves above or below significant levels with peak formations, then reverse to utilize their liquidity, initiating the next phase. Breakouts away from these traps often lead to range expansions, as described by Tony Crabel and Robert Schabacker. After multiple consecutive breakouts, especially after the psychological number three, overextension might develop. A break in structure may then lead to reversals or pullbacks. Burke’s system is designed to track these cycles on the daily timeframe and provides signals and trade setups to navigate along them.
Bias Logic and Multi-Timeframe Concept
The indicator covers the basic signals of his system:
- First Red Day (FRD): Bearish break in structure, signalling weak longs in the market.
- First Green Day (FGD): Bullish break in structure signalling weak shorts in the markt.
- Three Days of Longs (3DL): Overextension signalling potential weak longs in the market.
- Three Days of Shorts (3DS): Overextension signalling potential weak shorts in the market.
- Inside Day (ID): Contraction, signalling potential impulsive reversal or range expansion move.
It enhances the original system by introducing:
Structured Bias Logic:
Tracks bias by following how price trades concerning the last previous candle high or low that was hit. For example if the high was hit, we are bullish above and bearish below.
- Bullish state: Breakout (BO), Fakeout Low (FOL)
- Bearish state: Breakdown (BD), Fakeout High (FOH)
Multi-Timeframe Perspective:
- Tracks all signals across H4, H8, D, W, and M timeframes, to look for alignment and follow trends and momentum in a mechanical way.
The indicator monitors the bias and signals of the system across all relevant timeframes and automates the related graphical chart analysis to generate the information needed for the trader to identify key setups. Additional to the SB pattern, the system helps to identify the higher timeframe situation and follow the moves driven by other timeframe traders.
Example: Full Bullish Cycle on the Daily Timeframe with Signals
- The Trap/Peak Formation
The market breaks down from a previous day’s and maybe week’s low—potentially after multiple breakdowns—but fails to move lower and pulls back up to form a peak formation low and closes as a first green day.
Signal: Bullish daily and weekly fakeout low; three consecutive breakdown days (1W Curr FOL, 1D Curr FOL, BO 3S).
- Pullback and Consolidation
The next day pulls further up after first green day signal, potentially consolidates inside the previous day’s range.
Signal: Fakeout low and first green day closing as an inside day (1D Curr IS, Prev FOL, First G).
- Range Expansion/Trend
The following day breaks up through the previous day’s high, launching a range expansion away from the trap.
Signal: Bullish daily breakout of an inside day (1D Curr BO, Prev IS).
- Overextension
After multiple consecutive breakouts, the market reaches a state of overextension, signalling a possible reversal or pullback.
Signal: Three days of breakout longs (1D Curr BO, Prev BO, BO 3L).
Note: This is only one possible scenario; there are many variations and combinations.
Example Chart: Full Bullish Cycle with Correlated Signals
Note: The signals shown along the move are manually added illustrations. The indicator shows these in realtime in the table at the bottom right. This is only one possible scenario; there are many variations and combinations.
Due to the fractal nature of markets, this cycle can be observed across timeframes. The strongest setups show multi-timeframe alignment. For example, a peak formation and potential reversal on the daily timeframe has high probability and follow-through if it also aligns with bearish signals on higher timeframes (e.g., weekly/monthly BD/FOH) and confirmation on lower timeframes (H4/H8 FOH/BD). With this perspective the system enables the trader to follow the trend and momentum and identify rollover points in a very differentiated way.
Detailed Features and Options
1. Historic Highs and Lows
Displays historic highs and lows per timeframe for added context, enabling users to track sequences over time.
Timeframes: H4, H8, D, W, M
Options: Customize for timeframes shown, number of historic candles per timeframe, colors, formats, and labels.
2. Previous High and Low Extensions
Displays extended previous levels (high, low, and close) for each timeframe to assess how price trades relative to these levels.
H4: P4H, P4L, P4C
H8: P8H, P8L, P8C
Daily: PDH, PDL, PDC
Weekly: PWH, PWL, PWC
Monthly: PMH, PML, PMC
Options: Fully customizable for timeframes shown, colors, formats, and labels.
3. Breach Lines
Tracks live market reactions (e.g., breakouts or fakeouts) per timeframe for the last previous high or low that was hit, highlighting these levels originating at the breached candle to indicate bias (color-coded).
Red: Bearish below
Green: Bullish above
H4: 4FOL, 4FOH, 4BO, 4BD
H8: 8FOL, 8FOH, 8BO, 8BD
D: dFOL, dFOH, dBO, dBD
W: wFOL, wFOH, wBO, wBD
M: mFOL, mFOH, mBO, mBD
Options: Fully customizable for timeframes shown, colors, formats, and labels.
4. Multi-Timeframe Table
Provides a real-time view of system signals, including:
Current Timeframe (Curr): Bias states.
- Breakout (green BO): Bullish after breaking above the previous high.
- Fakeout High (red FOH): Bearish after breaking above the previous high but pulling back down.
- Breakdown (red BD): Bearish after breaking below the previous low.
- Fakeout Low (green FOL): Bullish after breaking below the previous low but pulling back up.
- Inside (IS): Price trading neutral inside the previous range, taking the previous bias (color indicates the previous bias).
Previous Timeframe (Prev): Tracks last candle bias state and transitions dynamically.
- Bias for last candle: BO, FOH, BD, FOL in respective colors.
- Inside bar (yellow IS): Indicated as standalone signal.
Note: Also previous timeframes get constantly updated in real time to track the bias state in relation to the level that was hit. This means a BO can still lose the level and become a FOH, and vice versa, and a BD can still become a FOL, and vice versa. This is critical to see for example if traders that are trapped in that timeframe with a FOH or FOL are released. An inside bar stays fixed, though, since no level was hit in that timeframe.
Breakouts (BO): Breakout count 3 longs and 3 shorts.
- 3 Longs (red 3L): Bearish after three breakouts without hitting a previous low.
- 3 Shorts (green 3S): Bullish after three breakdowns without hitting a previous high.
First Countertrend Close (First): Tracks First Red or Green Day.
- First Green (G): After two consecutive red closes.
- First Red (R): After two consecutive green closes.
Options: Customizable font size and label colors.
Overall Options:
Toggle single feature groups on/off.
Customize H8 open/close time as an offset to UTC to be provider independent.
Colour settings for dark or bright backgrounds.
Using the Indicator for Trading
The automated analysis provided by the indicator can be used for thesis generation in preparation for a session as well as for live trading, leveraging the real-time updates. It is recommended to customize the settings accordingly, such as hiding the lower timeframes for thesis generation to keep the charts clean.
1. Setup Identification:
Follow the bias of daily and H8 timeframes. A setup always requires alignment of these.
Setup Types:
- Trend Trade: Trade in alignment with the previous day’s trend.
Example: Price above the previous day’s high → Focus on long setups (dBO, H8 FOL) until overextension or reversal signs appear (H8 BO 3L, First R).
- Reversal Trade: Identify reversal setups when lower timeframes show rollovers after higher timeframe weakness.
Example: Price below the previous day’s high after FOH → Look for reversal signals at the current high of day (H8 FOH, BO 3L, First R).
2. Context Assessment:
Evaluate alignment of higher timeframes (e.g., Month/Week, Week/Day). More alignment → Stronger setups. Conflicting situations → Setups invalidated.
3. Entry Confirmation:
Confirm entries based on H8 and H4 alignment and candle closes (e.g., M15 or M5 close after entering setup zone as confirmation).
Example Chart for Reversal Trade:
1. Setup Identification: FOH continuation after BO 3L overextension, confirmed by H8 FOH, First R.
2. Context Assessment: Month in FOL with bearish First R; Week in BO but bearishly overextended with BO 3L.
3. Entry Confirmation: H4 BD, M5 close.
Further recommendations:
- Higher timeframe context: TPO or volume profile indicators can be used to gain an even better overview.
- Entry confirmation: Momentum indicators like VWAP, Supertrend, or EMA are helpful for increasing precision. Additionally, tracking lower timeframe fakeouts can provide powerful confluence.
- Late session trading: Entries later in the session, such as during the 3rd hour of the NY session, offer better analysis and follow-through on setups.
Limitations:
Data availability using TradingView has its limitations. The indicator leverages only the real-time data available for the specific timeframe being used. This means it cannot access data from timeframes lower than the one displayed on the chart. For example, if you are on a daily chart, it cannot use H8 data. Additionally, on very low timeframes, the historical availability of data might be limited, making higher timeframe signals unreliable.
To address this, the indicator automatically hides the affected columns in these specific situations, preventing false signals.
Disclaimer
This indicator is for educational purposes only and does not guarantee profits.
None of the information provided shall be considered financial advice.
The indicator does not provide final buy or sell signals but highlights zones for potential setups.
Users are fully responsible for their trading decisions and outcomes.
Daily Weekly Monthly Highs & Lows - Alerts !
1. Purpose
The script helps traders:
• Visualize the high and low levels for the previous daily, weekly, and monthly periods.
• Receive alerts when the current price crosses these levels.
• Identify key support and resistance zones based on historical highs and lows.
2. Key Features
User Inputs
The script offers customization options through input parameters:
• Daily Levels:
• Enable/disable displaying daily levels (Show Daily Levels).
• Customize the color for daily level lines (Daily Line Color).
• Weekly Levels:
• Enable/disable displaying weekly levels (Show Weekly Levels).
• Customize the color for weekly level lines (Weekly Line Color).
• Monthly Levels:
• Enable/disable displaying monthly levels (Show Monthly Levels).
• Customize the color for monthly level lines (Monthly Line Color).
3. Core Functionality
Level Calculations
The script retrieves the previous daily, weekly, and monthly highs and lows using the request.security() function:
• Daily High/Low: Taken from the previous day’s high and low.
• Weekly High/Low: Taken from the previous week’s high and low.
• Monthly High/Low: Taken from the previous month’s high and low.
Price Crossing Detection
For each level (daily, weekly, monthly), the script checks if the current high or low price has crossed:
• The previous high (triggering a “High Reached” alert).
• The previous low (triggering a “Low Reached” alert).
4. Visual Features
The script plots lines to represent the previous highs and lows:
• Daily Levels:
• Dashed lines for the previous daily high and low.
• Configurable color (Daily Line Color).
• Weekly Levels:
• Dashed lines for the previous weekly high and low.
• Configurable color (Weekly Line Color).
• Monthly Levels:
• Dashed lines for the previous monthly high and low.
• Configurable color (Monthly Line Color).
These lines extend forward by one bar for better visibility on the chart.
5. Alert Features
The script provides alerts for when the price crosses these levels:
• Daily Alerts:
• “Daily High Reached” when the current price crosses the previous daily high.
• “Daily Low Reached” when the current price crosses the previous daily low.
• Weekly Alerts:
• “Weekly High Reached” when the current price crosses the previous weekly high.
• “Weekly Low Reached” when the current price crosses the previous weekly low.
• Monthly Alerts:
• “Monthly High Reached” when the current price crosses the previous monthly high.
• “Monthly Low Reached” when the current price crosses the previous monthly low.
6. Practical Use Case
This script is ideal for traders who:
• Use support and resistance levels from daily, weekly, and monthly timeframes as part of their strategy.
• Want to monitor price interactions with these levels in real-time.
• Need automatic alerts for key price movements without continuously monitoring the chart.
7. Limitations
• Max Line Count: TradingView limits the number of lines that can be drawn on the chart to max_lines_count = 500.
• No Historical Levels: The script only tracks the most recent daily, weekly, and monthly levels and does not display historical levels.
ICTProTools | ICT Insight - Time & Price Zones🚀 INTRODUCTION
The Time and Price Zones indicator builds upon the foundational concepts of ICT (Inner Circle Trader) and Smart Money Concepts (SMC). These methodologies analyze the behavior of institutional traders (known as "smart money") by focusing on liquidity, key price levels, and market timing.
Liquidity refers to areas with high concentrations of pending orders (stops, take-profits, entries) in the market. Large institutions efficiently need to execute their massive orders without causing excessive slippage. To achieve this, they strategically create and exploit liquidity pools by driving the price toward areas where retail traders cluster their positions.
Then, through "liquidity grabs" or "stop hunts,” institutions accumulate or distribute positions at optimal prices . This strategy allows them to fill large orders with minimal market impact, typically clearing out retail traders' positions before the price reverses.
This indicator helps traders apply these principles by merging time-based and price-based analysis tools for better market understanding. By combining high-impact sessions like Kill Zones with pivotal price markers such as Previous Highs and Lows, traders can see where institutional activity intersects with liquidity pools, improving their decision-making.
This powerful combination allows users to monitor market dynamics in real time, helping them spot sentiment shifts and identify crucial turning points more effectively.
💎 FEATURES
Kill Zones
Kill Zones are critical periods of the trading day characterized by heightened institutional activity, resulting in increased liquidity and significant price movements. By recognizing these zones, you can strategically focus your efforts on the most advantageous moments for trading.
The Asian Session , which runs from 5 PM to 1 AM New York time, serves as an essential liquidity provider before the onset of more volatile trading periods. This session is intricately linked to the Smart Money Tool (SMT - See below), as the highs and lows established during this period provide foundational liquidity levels. You can set alerts when these levels are breached , allowing you to stay informed without constant chart monitoring and make timely trading decisions.
Transitioning into the London Kill Zone from 2 to 5 AM New York time marks the beginning of the European session, often associated with increased volatility. Following this, the New York Kill Zone , occurring from 7 to 10 AM , sees significant overlap between the London and New York sessions, where liquidity flows intensify and frequently correlate with notable price reversals. Finally, the London Close from 10 to 12 PM signifies the end of the European session, often ending the day with a retracement in the daily range.
Thanks to the timezone you can select relative to a region, Kill Zones will automatically adapt to time changes throughout the year and between different brokers , ensuring accurate Kill Zone timings without manual adjustments.
Incorporating our advanced Kill Zones indicator into your trading strategy gives you unparalleled insights and enhanced functionality. With integrated alerts for breaches of key levels, you can stay informed and ready to act without the need for constant chart monitoring, allowing you to focus on executing your trading strategies effectively.
We can see on this chart the identified Kill Zones during the trading day on EURUSD , including the Asian Session in gray, which tends to consolidate slightly (creating liquidity), the London Kill Zone in orange, which tends to move fast, often taking Asian quickly, the New York Kill Zone in green, with always a lot of movements, and the London Close in blue, seeming rather to retrace.
The midline indicates the 50% mark of the session, serving as a reference point for potential price reactions. Additionally, the highs and lows established during the Asian Session are linked to the Smart Money Tool (SMT) and can trigger alerts when breached. Here, you could have received an alert when Asian Low (marked AL) and Asian High (marked AH) were swept.
Previous & Open Levels
Previous and Open levels are key elements in ICT methodology, showing important price points from major timeframes (Daily, Weekly, Monthly). These levels (Previous High, Low, Open, and their separators) help traders understand price dynamics and anticipate market shifts.
The Previous levels connect directly to the Smart Money Tool (SMT - See below) as they provide foundational liquidity levels. In ICT methodology, previous are levels where many traders place their Stop Loss, thus creating liquidity. This helps you understand potential market reactions and whether prices will likely continue their trend or reverse.
You’ll be instantly notified whenever the price interacts with any of these Previous levels. This means you can stay informed about critical market movements without the need to monitor your charts constantly.
The indicator also displays Opening prices and includes separators for daily, weekly, and monthly levels, offering a clear market overview.
Open levels can act as simplified indicators of Premium and Discount Zones. To be above the opening price can be considered as the Premium Zone , where the market offers higher prices, typically suitable for selling opportunities. Conversely, to be below this price can be considered as the Discount Zone , where prices are relatively lower, offering potential buying opportunities.
These visual elements help you identify crucial market zones that reflect both past price action and current market dynamics.
Our indicator offers you the exclusive ability to integrate the True Day Range, as described by ICT. Based on institutional logic, this concept defines the trading day starting at 00:00 New York time. You can adapt this flexible feature to match your trading style and analysis needs.
By incorporating our advanced Previous levels indicator into your trading arsenal, you gain powerful insights and enhanced functionality.
The chart above displays key Previous and open levels on EURUSD , including the Month, Week, and Day lines, along with separators for enhanced clarity. All levels are based on the True Day Range Mode. The notes indicate significant price points, highlighting how the price interacts with these important levels, which helps us to understand it…
We can start with the biggest liquidity, the Previous Month. In this example, we can see the PMH, and the price seems to have used this level as a reversal point. The PM levels are indeed significant liquidity zones. We can observe the creation of wicks that interact with this level, signaling a liquidity grab.
Following this, the price drops quickly before rebounding, creating a liquidity range, that will probably be liquidated then… This is why it rises again to form what is now the PDH (Previous Day High), using it as liquidity (inducement) while using the PWH (Previous Week High) as a rebound level. The PWH is indeed a High Resistance (HR) area since there is only a few liquidity at this point thanks to the liquidity grab. The price has no reason to move higher.
Looking ahead, we can forecast that the price may continue its decline, potentially targeting lower liquidity levels. There is likely additional liquidity beneath the current range, particularly near the PDL (Previous Day Low) and PWL (Previous Week Low).
Additionally, we can note that at this point, the price was above the D.O.P (Daily Open) and W.O.P (Weekly Open), areas where selling would be more favorable. The price reacts significantly around these levels, creating large wicks, demonstrating their importance.
SMT Dashboard (Smart Money Tool)
The Smart Money Tool (SMT) is a powerful concept within the ICT methodology that enables you to compare various assets based on liquidity uptake from significant price levels.
By utilizing the SMT, you can analyze any asset , whether it’s a currency pair, stock, cryptocurrency, or other financial instruments. The dashboard helps you identify the strongest and weakest assets by analyzing their interactions with critical liquidity levels and identifying divergences , including those related to the Previous Month, Previous Week, Previous Day, and Asian Session Highs and Lows. By doing so, he identifies the most bullish symbol. It will therefore tend to rise more easily, or at least fall less, than the other one.
The SMT includes alert functionality that notifies you whenever a new SMT is created or has changed , allowing you to stay informed about which asset is currently the strongest. This means you can react promptly to market changes without constantly monitoring your charts.
Additionally, since the SMT relies on the Previous levels, it is influenced by the selected mode, whether based on traditional Previous levels or the True Day Range . This flexibility ensures that you are using the most relevant information available for your trading decisions. Asian High and Asian Low levels are also calculated according to the schedules configured in the Kill Zones section.
In summary, the Smart Money Tool displays the strongest and weakest assets based on liquidity uptake, providing you with clear information on which asset to prioritize, so you can maximize your potential profits. By incorporating this concept into your approach, you align your decisions with prevailing market dynamics, offering you unparalleled insights and features tailored to enhance your trading strategy.
This chart displays the Smart Money Tool (SMT) dashboard on the GBPUSD symbol, which compares the liquidity uptake for EURUSD and GBPUSD pairs. The indicator shows that both Previous Month's and Week's High and Low were taken for both pairs. However, the Asian High (AH) has been breached on GBPUSD but not on EURUSD, while the Asian Low (AL) has been taken by EURUSD. As a result, GBPUSD is identified as the stronger asset, indicating that traders should focus on buying opportunities with GBPUSD rather than EURUSD. This analysis helps traders prioritize the best symbol for their strategies based on the most relevant liquidity divergences.
✨ SETTINGS
Kill Zones: Customize the display options for the Asian (with lines), London, New York, and London Close Kill Zones. Configure timezone options, midlines, and color preferences.
Previous & Open Levels: Adjust how Previous High/Low levels, Open and separators are displayed. Select between Classic or True Day Range Mode based on your trading preferences.
SMT: Choose the correlated assets for the SMT comparison and select which liquidity (Monthly, Weekly, Daily, Asian) to use and display. Configure settings like liquidity sweeps and strongest pair emojis.
Alerts: Configure alerts for key events such as the Asian High/Low or Previous Levels liquidity sweep, and SMT divergences.
🎯 CONCLUSION
The Time and Price Zones indicator offers a practical and insightful approach to market analysis by combining major principles of ICT and Smart Money Concepts into a cohesive tool. It empowers traders to understand key price levels, liquidity dynamics, and institutional activity with ease. By helping traders avoid being the liquidity of the market and instead align with institutional flows, the indicator can significantly enhance performances. While its features provide a valuable edge, it’s essential to remember that none should be used on its own and many more factors go into being a profitable trader.
Weekly H/L DOTWThe Weekly High/Low Day Breakdown indicator provides a detailed statistical analysis of the days of the week (Monday to Sunday) on which weekly highs and lows occur for a given timeframe. It helps traders identify recurring patterns, correlations, and tendencies in price behavior across different days of the week. This can assist in planning trading strategies by leveraging day-specific patterns.
The indicator visually displays the statistical distribution of weekly highs and lows in an easy-to-read tabular format on your chart. Users can customize how the data is displayed, including whether the table is horizontal or vertical, the size of the text, and the position of the table on the chart.
Key Features:
Weekly Highs and Lows Identification:
Tracks the highest and lowest price of each trading week.
Records the day of the week on which these events occur.
Customizable Table Layout:
Option to display the table horizontally or vertically.
Text size can be adjusted (Small, Normal, or Large).
Table position is customizable (top-right, top-left, bottom-right, or bottom-left of the chart).
Flexible Value Representation:
Allows the display of values as percentages or as occurrences.
Default setting is occurrences, but users can toggle to percentages as needed.
Day-Specific Display:
Option to hide Saturday or Sunday if these days are not relevant to your trading strategy.
Visible Date Range:
Users can define a start and end date for the analysis, focusing the results on a specific period of interest.
User-Friendly Interface:
The table dynamically updates based on the selected timeframe and visibility of the chart, ensuring the displayed data is always relevant to the current context.
Adaptable to Custom Needs:
Includes all-day names from Monday to Sunday, but allows for specific days to be excluded based on the user’s preferences.
Indicator Logic:
Data Collection:
The indicator collects daily high, low, day of the week, and time data from the selected ticker using the request.security() function with a daily timeframe ('D').
Weekly Tracking:
Tracks the start and end times of each week.
During each week, it monitors the highest and lowest prices and the days they occurred.
Weekly Closure:
When a week ends (detected by Sunday’s daily candle), the indicator:
Updates the statistics for the respective days of the week where the weekly high and low occurred.
Resets tracking variables for the next week.
Visible Range Filter:
Only processes data for weeks that fall within the visible range of the chart, ensuring the table reflects only the visible portion of the chart.
Statistical Calculations:
Counts the number of weekly highs and lows for each day.
Calculates percentages relative to the total number of weeks in the visible range.
Dynamic Table Display:
Depending on user preferences, displays the data either horizontally or vertically.
Formats the table with proper alignment, colors, and text sizes for easy readability.
Custom Value Representation:
If set to "percentages," displays the percentage of weeks a high/low occurred on each day.
If set to "occurrences," displays the raw count of weekly highs/lows for each day.
Input Parameters:
High Text Color:
Color for the text in the "Weekly High" row or column.
Low Text Color:
Color for the text in the "Weekly Low" row or column.
High Background Color:
Background color for the "Weekly High" row or column.
Low Background Color:
Background color for the "Weekly Low" row or column.
Table Background Color:
General background color for the table.
Hide Saturday:
Option to exclude Saturday from the analysis and table.
Hide Sunday:
Option to exclude Sunday from the analysis and table.
Values Format:
Dropdown menu to select "percentages" or "occurrences."
Default value: "occurrences."
Table Position:
Dropdown menu to select the table position on the chart: "top_right," "top_left," "bottom_right," "bottom_left."
Default value: "top_right."
Text Size:
Dropdown menu to select text size: "Small," "Normal," "Large."
Default value: "Normal."
Vertical Table Format:
Checkbox to toggle the table layout:
Checked: Table displays days vertically, with Monday at the top.
Unchecked: Table displays days horizontally.
Start Date:
Allows users to specify the starting date for the analysis.
End Date:
Allows users to specify the ending date for the analysis.
Use Cases:
Day-Specific Pattern Recognition:
Identify if specific days, such as Monday or Friday, are more likely to form weekly highs or lows.
Seasonal Analysis:
Use the start and end date filters to analyze patterns during specific trading seasons.
Strategy Development:
Plan day-based entry and exit strategies by identifying recurring patterns in weekly highs/lows.
Historical Review:
Study historical data to understand how market behavior has changed over time.
TradingView TOS Compliance Notes:
Originality:
This script is uniquely designed to provide day-based statistics for weekly highs and lows, which is not a common feature in other publicly available indicators.
Usefulness:
Offers practical insights for traders interested in understanding day-specific price behavior.
Detailed Description:
Fully explains the purpose, features, logic, input settings, and use cases of the indicator.
Includes clear and concise details on how each input works.
Clear Input Descriptions:
All input parameters are clearly named and explained in the script and this description.
No Redundant Functionality:
Focused specifically on tracking weekly highs and lows, ensuring the indicator serves a distinct purpose without unnecessary features.
Inner Bar Strength (IBS)Inner Bar Strength (IBS) Indicator
The Inner Bar Strength (IBS) indicator is a technical analysis tool designed to measure the position of the closing price relative to the day's price range. It provides insights into market sentiment by indicating where the close occurs within the high and low of a specific timeframe. The IBS value ranges from 0 to 1, where values near 1 suggest bullish momentum (close near the high), and values near 0 indicate bearish momentum (close near the low).
How It Works
The IBS is calculated using the following formula:
IBS = (Close−Low) / (High−Low)
IBS = (High−Low) / (Close−Low)
Close: Closing price of the selected timeframe.
Low: Lowest price of the selected timeframe.
High: Highest price of the selected timeframe.
The indicator allows you to select the timeframe for calculation (default is daily), providing flexibility to analyze different periods based on your trading strategy.
Key Features
Inner Bar Strength (IBS) Indicator
The Inner Bar Strength (IBS) indicator is a technical analysis tool designed to measure the position of the closing price relative to the day's price range. It provides insights into market sentiment by indicating where the close occurs within the high and low of a specific timeframe. The IBS value ranges from 0 to 1, where values near 1 suggest bullish momentum (close near the high), and values near 0 indicate bearish momentum (close near the low).
How It Works
The IBS is calculated using the following formula:
IBS=Close−LowHigh−Low
IBS=High−LowClose−Low
Close: Closing price of the selected timeframe.
Low: Lowest price of the selected timeframe.
High: Highest price of the selected timeframe.
The indicator allows you to select the timeframe for calculation (default is daily), providing flexibility to analyze different periods based on your trading strategy.
Key Features
Timeframe Selection: Customize the timeframe to daily, weekly, monthly, or any other period that suits your analysis.
Adjustable Thresholds: Input fields for upper and lower thresholds (defaulted at 0.9 and 0.1) help identify overbought and oversold conditions.
Visual Aids: Dashed horizontal lines at the threshold levels make it easy to visualize critical levels on the chart.
How to Use the IBS Indicator
When the IBS value exceeds the upper threshold (e.g., 0.9), it suggests the asset is closing near its high and may be overbought.
When the IBS value falls below the lower threshold (e.g., 0.1), it indicates the asset is closing near its low and may be oversold.
Use RSI to confirm overbought or oversold conditions identified by the IBS.
Incorporate moving averages to identify the overall trend and filter signals.
High trading volume can strengthen signals provided by the IBS.
If the price is making lower lows while the IBS is making higher lows, it may signal a potential upward reversal.
If the price is making higher highs and the IBS is making lower highs, a downward reversal might be imminent.
Conclusion
The Inner Bar Strength (IBS) indicator is a valuable tool for traders seeking to understand intraday momentum and potential reversal points. By measuring where the closing price lies within the day's range, it provides immediate insights into market sentiment. When used alongside other technical analysis tools, the IBS can enhance your trading strategy by identifying overbought or oversold conditions, confirming breakouts, and highlighting potential divergence signals.
Exposure Oscillator (Cumulative 0 to ±100%)
Exposure Oscillator (Cumulative 0 to ±100%)
This Pine Script indicator plots an "Exposure Oscillator" on the chart, which tracks the cumulative market exposure from a range of technical buy and sell signals. The exposure is measured on a scale from -100% (maximum short exposure) to +100% (maximum long exposure), helping traders assess the strength of their position in the market. It provides an intuitive visual cue to aid decision-making for trend-following strategies.
Buy Signals (Increase Exposure Score by +10%)
Buy Signal 1 (Cross Above 21 EMA):
This signal is triggered when the price crosses above the 21-period Exponential Moving Average (EMA), where the current bar closes above the EMA21, and the previous bar closed below the EMA21. This indicates a potential upward price movement as the market shifts into a bullish trend.
buySignal1 = ta.crossover(close, ema21)
Buy Signal 2 (Trending Above 21 EMA):
This signal is triggered when the price closes above the 21-period EMA for each of the last 5 bars, indicating a sustained bullish trend. It confirms that the price is consistently above the EMA21 for a significant period.
buySignal2 = ta.barssince(close <= ema21) > 5
Buy Signal 3 (Living Above 21 EMA):
This signal is triggered when the price has closed above the 21-period EMA for each of the last 15 bars, demonstrating a strong, prolonged uptrend.
buySignal3 = ta.barssince(close <= ema21) > 15
Buy Signal 4 (Cross Above 50 SMA):
This signal is triggered when the price crosses above the 50-period Simple Moving Average (SMA), where the current bar closes above the 50 SMA, and the previous bar closed below it. It indicates a shift toward bullish momentum.
buySignal4 = ta.crossover(close, sma50)
Buy Signal 5 (Cross Above 200 SMA):
This signal is triggered when the price crosses above the 200-period Simple Moving Average (SMA), where the current bar closes above the 200 SMA, and the previous bar closed below it. This suggests a long-term bullish trend.
buySignal5 = ta.crossover(close, sma200)
Buy Signal 6 (Low Above 50 SMA):
This signal is true when the lowest price of the current bar is above the 50-period SMA, indicating strong bullish pressure as the price maintains itself above the moving average.
buySignal6 = low > sma50
Buy Signal 7 (Accumulation Day):
An accumulation day occurs when the closing price is in the upper half of the daily range (greater than 50%) and the volume is larger than the previous bar's volume, suggesting buying pressure and accumulation.
buySignal7 = (close - low) / (high - low) > 0.5 and volume > volume
Buy Signal 8 (Higher High):
This signal occurs when the current bar’s high exceeds the highest high of the previous 14 bars, indicating a breakout or strong upward momentum.
buySignal8 = high > ta.highest(high, 14)
Buy Signal 9 (Key Reversal Bar):
This signal is generated when the stock opens below the low of the previous bar but rallies to close above the previous bar’s high, signaling a potential reversal from bearish to bullish.
buySignal9 = open < low and close > high
Buy Signal 10 (Distribution Day Fall Off):
This signal is triggered when a distribution day (a day with high volume and a close near the low of the range) "falls off" the rolling 25-bar period, indicating the end of a bearish trend or selling pressure.
buySignal10 = ta.barssince(close < sma50 and close < sma50) > 25
Sell Signals (Decrease Exposure Score by -10%)
Sell Signal 1 (Cross Below 21 EMA):
This signal is triggered when the price crosses below the 21-period Exponential Moving Average (EMA), where the current bar closes below the EMA21, and the previous bar closed above it. It suggests that the market may be shifting from a bullish trend to a bearish trend.
sellSignal1 = ta.crossunder(close, ema21)
Sell Signal 2 (Trending Below 21 EMA):
This signal is triggered when the price closes below the 21-period EMA for each of the last 5 bars, indicating a sustained bearish trend.
sellSignal2 = ta.barssince(close >= ema21) > 5
Sell Signal 3 (Living Below 21 EMA):
This signal is triggered when the price has closed below the 21-period EMA for each of the last 15 bars, suggesting a strong downtrend.
sellSignal3 = ta.barssince(close >= ema21) > 15
Sell Signal 4 (Cross Below 50 SMA):
This signal is triggered when the price crosses below the 50-period Simple Moving Average (SMA), where the current bar closes below the 50 SMA, and the previous bar closed above it. It indicates the start of a bearish trend.
sellSignal4 = ta.crossunder(close, sma50)
Sell Signal 5 (Cross Below 200 SMA):
This signal is triggered when the price crosses below the 200-period Simple Moving Average (SMA), where the current bar closes below the 200 SMA, and the previous bar closed above it. It indicates a long-term bearish trend.
sellSignal5 = ta.crossunder(close, sma200)
Sell Signal 6 (High Below 50 SMA):
This signal is true when the highest price of the current bar is below the 50-period SMA, indicating weak bullishness or a potential bearish reversal.
sellSignal6 = high < sma50
Sell Signal 7 (Distribution Day):
A distribution day is identified when the closing range of a bar is less than 50% and the volume is larger than the previous bar's volume, suggesting that selling pressure is increasing.
sellSignal7 = (close - low) / (high - low) < 0.5 and volume > volume
Sell Signal 8 (Lower Low):
This signal occurs when the current bar's low is less than the lowest low of the previous 14 bars, indicating a breakdown or strong downward momentum.
sellSignal8 = low < ta.lowest(low, 14)
Sell Signal 9 (Downside Reversal Bar):
A downside reversal bar occurs when the stock opens above the previous bar's high but falls to close below the previous bar’s low, signaling a reversal from bullish to bearish.
sellSignal9 = open > high and close < low
Sell Signal 10 (Distribution Cluster):
This signal is triggered when a distribution day occurs three times in the rolling 7-bar period, indicating significant selling pressure.
sellSignal10 = ta.valuewhen((close < low) and volume > volume , 1, 7) >= 3
Theme Mode:
Users can select the theme mode (Auto, Dark, or Light) to match the chart's background or to manually choose a light or dark theme for the oscillator's appearance.
Exposure Score Calculation: The script calculates a cumulative exposure score based on a series of buy and sell signals.
Buy signals increase the exposure score, while sell signals decrease it. Each signal impacts the score by ±10%.
Signal Conditions: The buy and sell signals are derived from multiple conditions, including crossovers with moving averages (EMA21, SMA50, SMA200), trend behavior, and price/volume analysis.
Oscillator Visualization: The exposure score is visualized as a line on the chart, changing color based on whether the exposure is positive (long position) or negative (short position). It is limited to the range of -100% to +100%.
Position Type: The indicator also indicates the position type based on the exposure score, labeling it as "Long," "Short," or "Neutral."
Horizontal Lines: Reference lines at 0%, 100%, and -100% visually mark neutral, increasing long, and increasing short exposure levels.
Exposure Table: A table displays the current exposure level (in percentage) and position type ("Long," "Short," or "Neutral"), updated dynamically based on the oscillator’s value.
Inputs:
Theme Mode: Choose "Auto" to use the default chart theme, or manually select "Dark" or "Light."
Usage:
This oscillator is designed to help traders track market sentiment, gauge exposure levels, and manage risk. It can be used for long-term trend-following strategies or short-term trades based on moving average crossovers and volume analysis.
The oscillator operates in conjunction with the chart’s price action and provides a visual representation of the market’s current trend strength and exposure.
Important Considerations:
Risk Management: While the exposure score provides valuable insight, it should be combined with other risk management tools and analysis for optimal trading decisions.
Signal Sensitivity: The accuracy and effectiveness of the signals depend on market conditions and may require adjustments based on the user’s trading strategy or timeframe.
Disclaimer:
This script is for educational purposes only. Trading involves significant risk, and users should carefully evaluate all market conditions and apply appropriate risk management strategies before using this tool in live trading environments.
Nasan Hull-smoothed envelope The Nasan Hull-Smoothed Envelope indicator is a sophisticated overlay designed to track price movement within an adaptive "envelope." It dynamically adjusts to market volatility and trend strength, using a series of smoothing and volatility-correction techniques. Here's a detailed breakdown of its components, from the input settings to the calculated visual elements:
Inputs
look_back_length (500):
Defines the lookback period for calculating intraday volatility (IDV), smoothing it over time. A higher value means the indicator considers a longer historical range for volatility calculations.
sl (50):
Sets the smoothing length for the Hull Moving Average (HMA). The HMA smooths various lines, creating a balance between sensitivity and stability in trend signals.
mp (1.5):
Multiplier for IDV, scaling the volatility impact on the envelope. A higher multiplier widens the envelope to accommodate higher volatility, while a lower one tightens it.
p (0.625):
Weight factor that determines the balance between extremes (highest high and lowest low) and averages (sma of high and sma of low) in the high/low calculations. A higher p gives more weight to extremes, making the envelope more responsive to abrupt market changes.
Volatility Calculation (IDV)
The Intraday Volatility (IDV) metric represents the average volatility per bar as an exponentially smoothed ratio of the high-low range to the close price. This is calculated over the look_back_length period, providing a base volatility value which is then scaled by mp. The IDV enables the envelope to dynamically widen or narrow with market volatility, making it sensitive to current market conditions.
Composite High and Low Bands
The high and low bands define the upper and lower bounds of the envelope.
High Calculation
a_high:
Uses a multi-period approach to capture the highest highs over several intervals (5, 8, 13, 21, and 34 bars). Averaging these highs provides a more stable reference for the high end of the envelope, capturing both immediate and recent peak values.
b_high:
Computes the average of shorter simple moving averages (5, 8, and 13 bars) of the high prices, smoothing out fluctuations in the recent highs. This generates a balanced view of high price trends.
high_c:
Combines a_high and b_high using the weight p. This blend creates a composite high that balances between recent peaks and smoothed averages, making the upper envelope boundary adaptive to short-term price shifts.
Low Calculation
a_low and b_low:
Similar to the high calculation, these capture extreme lows and smooth low values over the same intervals. This approach creates a stable and adaptive lower bound for the envelope.
low_c:
Combines a_low and b_low using the weight p, resulting in a composite low that adjusts to price fluctuations while maintaining a stable trend line.
Volatility-Adjusted Bands
The final composite high (c_high) and composite low (c_low) bands are adjusted using IDV, which accounts for intraday volatility. When volatility is high, the bands expand; when it’s low, they contract, providing a visual representation of volatility-adjusted price bounds.
Basis Line
The basis line is a Hull Moving Average (HMA) of the average of c_high and c_low. The HMA is known for its smoothness and responsiveness, making the basis line a central trend indicator. The color of the basis line changes:
Green when the basis line is increasing.
Red when the basis line is decreasing.
This color-coded basis line serves as a quick visual reference for trend direction.
Short-Term Trend Strength Block
This component analyzes recent price action to assess short-term bullish and bearish momentum.
Conditions (green, red, green1, red1):
These are binary conditions that categorize price movements as bullish or bearish based on the close compared to the open and the close’s relationship with the exponential moving average (EMA). This separation helps capture different types of strength (above/below EMA) and different bullish or bearish patterns.
Composite Trend Strength Values:
Each of the bullish and bearish counts (above and below the EMA) is normalized, resulting in the following values:
green_EMAup_a and red_EMAup_a for bullish and bearish strength above the EMA.
green_EMAdown_a and red_EMAdown_a for bullish and bearish strength below the EMA.
Trend Strength (t_s):
This calculated metric combines the normalized trend strengths with extra weight to conditions above the EMA, giving more relevance to trends that have momentum behind them.
Enhanced Trend Strength
avg_movement:
Calculates the average absolute price movement over the short_term_length, providing a measurement of recent price activity that scales with volatility.
enhanced_t_s:
Multiplies t_s by avg_movement, creating an enhanced trend strength value that reflects both directional strength and the magnitude of recent price movement.
min and max:
Minimum and maximum percentile thresholds, respectively, based on enhanced_t_s for controlling the color gradient in the fill area.
Fill Area
The fill area between plot_c_high and plot_c_low is color-coded based on the enhanced trend strength (enhanced_t_s):
Gradient color transitions from blue to green based on the strength level, with blue representing weaker trends and green indicating stronger trends.
This visual fill provides an at-a-glance assessment of trend strength across the envelope, with color shifts highlighting momentum shifts.
Summary
The indicator’s purpose is to offer an adaptive price envelope that reflects real-time market volatility and trend strength. Here’s what each component contributes:
Basis Line: A trend-following line in the center that adjusts color based on trend direction.
Envelope (c_high, c_low): Adapts to volatility by expanding and contracting based on IDV, giving traders a responsive view of expected price bounds.
Fill Area: A color-gradient region representing trend strength within the envelope, helping traders easily identify momentum changes.
Overall, this tool helps to identify trend direction, market volatility, and strength of price movements, allowing for more informed decisions based on visual cues around price boundaries and trend momentum.
Market Structure Overlay🚀 Market Structure Overlay Indicator 🚀
🔍 Overview
The Market Structure Overlay (MSO) is a sophisticated technical analysis tool created to analyze price action and understand market structure in a more precise way. It identifies Break of Structure (BOS), Market Structure Breaks (MSBs), Equal Highs (EQH), and Equal Lows (EQL) with meticulous precision by utilizing both wicks and closing prices for better accuracy. The MSO is suitable for all trading timeframes, providing traders with the flexibility to observe and trade on any scale, from intraday to long-term trends.
⚙️ How It Works
The MSO uses advanced logic to detect critical price levels that highlight structural changes in the market. It calculates swing highs and lows using user-defined settings, allowing for customization in market structure analysis. The indicator further highlights BOS and MSB levels by leveraging supply and demand detection, offering a comprehensive understanding of trend reversals and continuation points.
✨ Key features include:
📈 Bullish and Bearish BOS/MSB Lines: MSO differentiates between bullish and bearish structural events, which helps traders understand the prevailing trend and identify key pivot points.
🎨 Customizable Appearance: Traders can personalize line styles and colors for BOS/MSB, trendlines and EQH/EQL, making the tool integrate seamlessly into any chart setup.
🔄 Swing Length and Demand Memory Settings: MSO allows users to specify the swing length for BOS lookback and how many historical zones should be stored on the chart, enhancing control over how much data is analyzed visually.
📊 Market Structure Elements Explained
Break of Structure (BOS): A BOS occurs when the price breaks through a previous Higher High (HH) or Lower Low (LL), indicating a continuation of the current trend. It helps confirm the prevailing market direction.
Market Structure Break (MSB): occurs when a Higher Low (HL) or Lower High (LH) is broken, signaling a potential shift in the market trend. This typically marks the beginning of a trend reversal.
Equal Highs (EQH) and Equal Lows (EQL): These levels are areas of liquidity where previous highs or lows are tested again by the market, often signifying areas of accumulation or distribution. EQH and EQL are crucial for recognizing potential liquidity traps.
Trendlines: Trendlines are used to connect successive highs or lows, providing a visual representation of the current direction of the market. They help traders understand trend momentum and potential breakouts.
🔥 Key Features and Benefits
✅ Accurate Market Structure Detection
The Market Structure Overlay identifies Break of Structure (BOS) and Market Structure Breaks (MSB) events that indicate potential trend changes or continuations. The indicator also distinguishes between bullish and bearish market structures using color-coded lines and custom labels, which helps in immediately identifying market dynamics.
📊 Supply and Demand Zones for BOS/MSB Detection
The MSO uses Supply and Demand Zones as part of the detection logic for BOS and MSB. Although these zones are not directly plotted, they play a key role in determining when a significant structural break occurs. This unique approach enhances the accuracy of BOS and MSB identification, as it takes into account areas of accumulation or distribution that often serve as precursors to trend shifts.
🔍 Equal Highs and Lows Detection
The MSO features Equal Highs (EQH) and Equal Lows (EQL) detection, which is a significant indicator for liquidity zones where potential orders might be resting. These areas often trigger key price actions as they get tested or broken.
⚙️ Customizable Settings
Users can customize the indicator’s behavior, including choosing whether to use candle wicks or closing prices, setting swing lengths for identifying key levels, and specifying memory for storing past zones. This flexibility allows traders to adjust the indicator to suit their personal trading strategy and preferences.
⏱️ Multi-Timeframe Highs and Lows
The indicator includes multi-timeframe support for significant highs and lows (daily, weekly, monthly, yearly). This helps traders understand where they are in the larger market context, especially when making decisions during intra-session trading.
🔎 Precise Detection Approach
Unlike traditional market structure indicators that rely heavily on simple pivot points, the MSO employs a more advanced and precise detection mechanism for BOS and MSB. Traditional pivot points typically use a lookback function to identify highs and lows over a fixed period, which can lead to false signals due to market noise or temporary price fluctuations. In contrast, the MSO records and checks swing and interim points against stored memory, only signaling structural breaks after a thorough evaluation. This results in a non-repainting and highly accurate depiction of market structure, minimizing false alerts and providing traders with reliable insights based on price action that remains consistent once confirmed.
🎨 Visualization Options
The MSO uses color-coded BOS and MSB lines to easily differentiate between bullish and bearish scenarios. Users also have options to visualize equal highs/lows (EQH/EQL) to recognize potential liquidity points. A detailed breakdown of Supply and Demand Zones helps traders identify high-probability areas for entries and exits. Additionally, the indicator allows traders to toggle visibility of key elements, including trend lines, labels, and multi-timeframe levels.
📝 Summary
The Market Structure Overlay is an essential tool for understanding price behavior and structural shifts in any financial market. Its use of sophisticated logic to detect structural breaks, coupled with customizable visualizations, allows traders to gain a nuanced view of market dynamics. The supply and demand zones, together with the BOS, MSB, EQH, and EQL labels, provide a strong foundation for both trend-following and reversal trading strategies.
MSO is not just a tool for understanding market direction—it's designed to enhance decision-making by delivering reliable and actionable insights into market structure. This indicator provides a seamless blend of market theory with advanced technical features, making it a valuable asset for serious traders.
📊 Key Visual Examples:
📈 Bullish and Bearish BOS/MSB Lines
📸
🌀 Trendlines
📸
⚠️ Note:
This indicator should be used as part of a broader trading strategy. Always confirm your entries and exits with additional tools and analysis methods. 💡
QuantBuilder | FractalystWhat's the strategy's purpose and functionality?
QuantBuilder is designed for both traders and investors who want to utilize mathematical techniques to develop profitable strategies through backtesting on historical data.
The primary goal is to develop profitable quantitive strategies that not only outperform the underlying asset in terms of returns but also minimize drawdown.
For instance, consider Bitcoin (BTC), which has experienced significant volatility, averaging an estimated 200% annual return over the past decade, with maximum drawdowns exceeding -80%. By employing this strategy with diverse entry and exit techniques, users can potentially seek to enhance their Compound Annual Growth Rate (CAGR) while managing risk to maintain a lower maximum drawdown.
While this strategy employs quantitative techniques, including mathematical methods such as probabilities and positive expected values, it demonstrates exceptional efficacy across all markets. It particularly excels in futures, indices, stocks, cryptocurrencies, and commodities, leveraging their inherent trending behaviors for optimized performance.
In both trending and consolidating market conditions, QuantBuilder employs a combination of multi-timeframe probabilities, expected values, directional biases, moving averages and diverse entry models to identify and capitalize on bullish market movements.
How does the strategy perform for both investors and traders?
The strategy has two main modes, tailored for different market participants: Traders and Investors.
1. Trading:
- Designed for traders looking to capitalize on bullish markets.
- Utilizes a percentage risk per trade to manage risk and optimize returns.
- Suitable for both swing and intraday trading with a focus on probabilities and risk per trade approach.
2. Investing:
- Geared towards investors who aim to capitalize on bullish trending markets without using leverage while mitigating the asset's maximum drawdown.
- Utilizes pre-define percentage of the equity to buy, hold, and manage the asset.
- Focuses on long-term growth and capital appreciation by fully/partially investing in the asset during bullish conditions.
How does the strategy identify market structure? What are the underlying calculations?
The strategy utilizes an efficient logic with for loops to pinpoint the first swing candle featuring a pivot of 2, establishing the point at which the break of structure begins.
What entry criteria are used in this script? What are the underlying calculations?
The script utilizes two entry models: BreakOut and fractal.
Underlying Calculations:
Breakout: The script assigns the most recent swing high to a variable. When the price closes above this level and all other conditions are met, the script executes a breakout entry (conservative approach).
Fractal: The script identifies a swing low with a period of 2. Once this condition is met, the script executes the trade (aggressive approach).
How does the script calculate probabilities? What are the underlying calculations?
The script calculates probabilities by monitoring price interactions with liquidity levels. Here’s how the underlying calculations work:
Tracking Price Hits: The script counts the number of times the price taps into each liquidity side after the EQM level is activated. This data is stored in an array for further analysis.
Sample Size Consideration: The total number of price interactions serves as the sample size for calculating probabilities.
Probability Calculation: For each liquidity side, the script calculates the probability by taking the average of the recorded hits. This allows for a dynamic assessment of the likelihood that a particular side will be hit next, based on historical performance.
Dynamic Adjustment: As new price data comes in, the probabilities are recalculated, providing real-time aduptive insights into market behavior.
Note: The calculations are performed independently for each directional range. A range is considered bearish if the previous breakout was through a sellside liquidity. Conversely, a range is considered bullish if the most recent breakout was through a buyside liquidity.
How does the script calculate expected values? What are the underlying calculations?
The script calculates expected values by leveraging the probabilities of winning and losing trades, along with their respective returns. The process involves the following steps:
This quantitative methodology provides a robust framework for assessing the expected performance of trading strategies based on historical data and backtesting results.
How is the contextual bias calculated? What are the underlying calculations?
The contextual bias in the QuantBuilder script is calculated through a structured approach that assesses market structure based on swing highs and lows. Here’s how it works:
Identification of Swing Points: The script identifies significant swing points using a defined pivot logic, focusing on the first swing high and swing low. This helps establish critical levels for determining market structure.
Break of Structure (BOS) Assessment:
Bullish BOS: The script recognizes a bullish break of structure when a candle closes above the first swing high, followed by at least one swing low.
Bearish BOS: Conversely, a bearish break of structure is identified when a candle closes below the first swing low, followed by at least one swing high.
Bias Assignment: Based on the identified break of structure, the script assigns directional biases:
A bullish bias is assigned if a bullish BOS is confirmed.
A bearish bias is assigned if a bearish BOS is confirmed.
Quantitative Evaluation: Each identified bias is quantitatively evaluated, allowing the script to assign numerical values representing the strength of each bias. This quantification aids in assessing the reliability of market sentiment across multiple timeframes.
What's the purpose of using moving averages in this strategy? What are the underlying calculations?
Using moving averages is a widely-used technique to trade with the trend.
The main purpose of using moving averages in this strategy is to filter out bearish price action and to only take trades when the price is trading ABOVE specified moving averages.
The script uses different types of moving averages with user-adjustable timeframes and periods/lengths, allowing traders to try out different variations to maximize strategy performance and minimize drawdowns.
By applying these calculations, the strategy effectively identifies bullish trends and avoids market conditions that are not conducive to profitable trades.
The MA filter allows traders to choose whether they want a specific moving average above or below another one as their entry condition.
What type of stop-loss identification method are used in this strategy? What are the underlying calculations?
- Initial Stop-loss:
1. ATR Based:
The Average True Range (ATR) is a method used in technical analysis to measure volatility. It is not used to indicate the direction of price but to measure volatility, especially volatility caused by price gaps or limit moves.
Calculation:
- To calculate the ATR, the True Range (TR) first needs to be identified. The TR takes into account the most current period high/low range as well as the previous period close.
The True Range is the largest of the following:
- Current Period High minus Current Period Low
- Absolute Value of Current Period High minus Previous Period Close
- Absolute Value of Current Period Low minus Previous Period Close
- The ATR is then calculated as the moving average of the TR over a specified period. (The default period is 14)
2. ADR Based:
The Average Day Range (ADR) is an indicator that measures the volatility of an asset by showing the average movement of the price between the high and the low over the last several days.
Calculation:
- To calculate the ADR for a particular day:
- Calculate the average of the high prices over a specified number of days.
- Calculate the average of the low prices over the same number of days.
- Find the difference between these average values.
- The default period for calculating the ADR is 14 days. A shorter period may introduce more noise, while a longer period may be slower to react to new market movements.
3. PL Based:
This method places the stop-loss at the low of the previous candle.
If the current entry is based on the hunt entry strategy, the stop-loss will be placed at the low of the candle that wicks through the lower FRMA band.
Example:
If the previous candle's low is 100, then the stop-loss will be set at 100.
This method ensures the stop-loss is placed just below the most recent significant low, providing a logical and immediate level for risk management.
- Trailing Stop-Loss:
One of the key elements of this strategy is its ability to detect structural liquidity and structural invalidation levels across multiple timeframes to trail the stop-loss once the trade is in running profits.
By utilizing this approach, the strategy allows enough room for price to run.
By using these methods, the strategy dynamically adjusts the initial stop-loss based on market volatility, helping to protect against adverse price movements while allowing for enough room for trades to develop.
Each market behaves differently across various timeframes, and it is essential to test different parameters and optimizations to find out which trailing stop-loss method gives you the desired results and performance.
What type of break-even and take profit identification methods are used in this strategy? What are the underlying calculations?
For Break-Even:
Percentage (%) Based:
Moves the initial stop-loss to the entry price when the price reaches a certain percentage above the entry.
Calculation:
Break-even level = Entry Price * (1 + Percentage / 100)
Example:
If the entry price is $100 and the break-even percentage is 5%, the break-even level is $100 * 1.05 = $105.
Risk-to-Reward (RR) Based:
Moves the initial stop-loss to the entry price when the price reaches a certain RR ratio.
Calculation:
Break-even level = Entry Price + (Initial Risk * RR Ratio)
For TP1 (Take Profit 1):
- You can choose to set a take profit level at which your position gets fully closed or 50% if the TP2 boolean is enabled.
- Similar to break-even, you can select either a percentage (%) or risk-to-reward (RR) based take profit level, allowing you to set your TP1 level as a percentage amount above the entry price or based on RR.
For TP2 (Take Profit 2):
- You can choose to set a take profit level at which your position gets fully closed.
- As with break-even and TP1, you can select either a percentage (%) or risk-to-reward (RR) based take profit level, allowing you to set your TP2 level as a percentage amount above the entry price or based on RR.
What's the day filter Filter, what does it do?
The day filter allows users to customize the session time and choose the specific days they want to include in the strategy session. This helps traders tailor their strategies to particular trading sessions or days of the week when they believe the market conditions are more favorable for their trading style.
Customize Session Time:
Users can define the start and end times for the trading session.
This allows the strategy to only consider trades within the specified time window, focusing on periods of higher market activity or preferred trading hours.
Select Days:
Users can select which days of the week to include in the strategy.
This feature is useful for excluding days with historically lower volatility or unfavorable trading conditions (e.g., Mondays or Fridays).
Benefits:
Focus on Optimal Trading Periods:
By customizing session times and days, traders can focus on periods when the market is more likely to present profitable opportunities.
Avoid Unfavorable Conditions:
Excluding specific days or times can help avoid trading during periods of low liquidity or high unpredictability, such as major news events or holidays.
What tables are available in this script?
- Summary: Provides a general overview, displaying key performance parameters such as Net Profit, Profit Factor, Max Drawdown, Average Trade, Closed Trades and more.
Total Commission: Displays the cumulative commissions incurred from all trades executed within the selected backtesting window. This value is derived by summing the commission fees for each trade on your chart.
Average Commission: Represents the average commission per trade, calculated by dividing the Total Commission by the total number of closed trades. This metric is crucial for assessing the impact of trading costs on overall profitability.
Avg Trade: The sum of money gained or lost by the average trade generated by a strategy. Calculated by dividing the Net Profit by the overall number of closed trades. An important value since it must be large enough to cover the commission and slippage costs of trading the strategy and still bring a profit.
MaxDD: Displays the largest drawdown of losses, i.e., the maximum possible loss that the strategy could have incurred among all of the trades it has made. This value is calculated separately for every bar that the strategy spends with an open position.
Profit Factor: The amount of money a trading strategy made for every unit of money it lost (in the selected currency). This value is calculated by dividing gross profits by gross losses.
Avg RR: This is calculated by dividing the average winning trade by the average losing trade. This field is not a very meaningful value by itself because it does not take into account the ratio of the number of winning vs losing trades, and strategies can have different approaches to profitability. A strategy may trade at every possibility in order to capture many small profits, yet have an average losing trade greater than the average winning trade. The higher this value is, the better, but it should be considered together with the percentage of winning trades and the net profit.
Winrate: The percentage of winning trades generated by a strategy. Calculated by dividing the number of winning trades by the total number of closed trades generated by a strategy. Percent profitable is not a very reliable measure by itself. A strategy could have many small winning trades, making the percent profitable high with a small average winning trade, or a few big winning trades accounting for a low percent profitable and a big average winning trade. Most mean-reversion successful strategies have a percent profitability of 40-80% but are profitable due to risk management control.
BE Trades: Number of break-even trades, excluding commission/slippage.
Losing Trades: The total number of losing trades generated by the strategy.
Winning Trades: The total number of winning trades generated by the strategy.
Total Trades: Total number of taken traders visible your charts.
Net Profit: The overall profit or loss (in the selected currency) achieved by the trading strategy in the test period. The value is the sum of all values from the Profit column (on the List of Trades tab), taking into account the sign.
- Monthly: Displays performance data on a month-by-month basis, allowing users to analyze performance trends over each month and year.
- Weekly: Displays performance data on a week-by-week basis, helping users to understand weekly performance variations.
- UI Table: A user-friendly table that allows users to view and save the selected strategy parameters from user inputs. This table enables easy access to key settings and configurations, providing a straightforward solution for saving strategy parameters by simply taking a screenshot with Alt + S or ⌥ + S.
User-input styles and customizations:
To facilitate studying historical data, all conditions and filters can be applied to your charts. By plotting background colors on your charts, you'll be able to identify what worked and what didn't in certain market conditions.
Please note that all background colors in the style are disabled by default to enhance visualization.
How to Use This Quantitive Strategy Builder to Create a Profitable Edge and System?
Choose Your Strategy mode:
- Decide whether you are creating an investing strategy or a trading strategy.
Select a Market:
- Choose a one-sided market such as stocks, indices, or cryptocurrencies.
Historical Data:
- Ensure the historical data covers at least 10 years of price action for robust backtesting.
Timeframe Selection:
- Choose the timeframe you are comfortable trading with. It is strongly recommended to use a timeframe above 15 minutes to minimize the impact of commissions/slippage on your profits.
Set Commission and Slippage:
- Properly set the commission and slippage in the strategy properties according to your broker/prop firm specifications.
Parameter Optimization:
- Use trial and error to test different parameters until you find the performance results you are looking for in the summary table or, preferably, through deep backtesting using the strategy tester.
Trade Count:
- Ensure the number of trades is 200 or more; the higher, the better for statistical significance.
Positive Average Trade:
- Make sure the average trade is above zero.
(An important value since it must be large enough to cover the commission and slippage costs of trading the strategy and still bring a profit.)
Performance Metrics:
- Look for a high profit factor, and net profit with minimum drawdown.
- Ideally, aim for a drawdown under 20-30%, depending on your risk tolerance.
Refinement and Optimization:
- Try out different markets and timeframes.
- Continue working on refining your edge using the available filters and components to further optimize your strategy.
What makes this strategy original?
QuantBuilder stands out due to its unique combination of quantitative techniques and innovative algorithms that leverage historical data for real-time trading decisions. Unlike most algorithmic strategies that work based on predefined rules, this strategy adapts to real-time market probabilities and expected values, enhancing its reliability. Key features include:
Mathematical Framework: The strategy integrates advanced mathematical concepts, such as probabilities and expected values, to assess trade viability and optimize decision-making.
Multi-Timeframe Analysis: By utilizing multi-timeframe probabilities, QuantBuilder provides a comprehensive view of market conditions, enhancing the accuracy of entry and exit points.
Dynamic Market Structure Identification: The script employs a systematic approach to identify market structure changes, utilizing a blend of swing highs and lows to detect contextual/direction bias of the market.
Built-in Trailing Stop Loss: The strategy features a dynamic trailing stop loss based on multi-timeframe analysis of market structure. This allows traders to lock in profits while adapting to changing market conditions, ensuring that exits are executed at optimal levels without prematurely closing positions.
Robust Performance Metrics: With detailed performance tables and visualizations, users can easily evaluate strategy effectiveness and adjust parameters based on historical performance.
Adaptability: The strategy is designed to work across various markets and timeframes, making it versatile for different trading styles and objectives.
Suitability for Investors and Traders: QuantBuilder is ideal for both investors and traders looking to rely on mathematically proven data to create profitable strategies, ensuring that decisions are grounded in quantitative analysis.
These original elements combine to create a powerful tool that can help both traders and investors to build and refine profitable strategies based on algorithmic quantitative analysis.
Terms and Conditions | Disclaimer
Our charting tools are provided for informational and educational purposes only and should not be construed as financial, investment, or trading advice. They are not intended to forecast market movements or offer specific recommendations. Users should understand that past performance does not guarantee future results and should not base financial decisions solely on historical data.
Built-in components, features, and functionalities of our charting tools are the intellectual property of @Fractalyst Unauthorized use, reproduction, or distribution of these proprietary elements is prohibited.
By continuing to use our charting tools, the user acknowledges and accepts the Terms and Conditions outlined in this legal disclaimer and agrees to respect our intellectual property rights and comply with all applicable laws and regulations.
CRT overlay 2Overview
The "CRT overlay 2" is designed to plot key levels and detect market patterns based on the 4-hour candle around a specific start time (5AM). It incorporates elements like the high, low, and 50% level of a key 4-hour candle, and also tracks Fair Value Gaps (FVGs) to help identify potential price imbalances in the market. The indicator is primarily based on Candle Range Theory (CRT), which focuses on the significance of price movements within key candles and their relation to future market activity.
How the Script is Made
Key Components:
4-hour CRT Candle: The script identifies a specific 4-hour candle using a customizable start time (by default, it’s set to the 5 AM candle).
High, Low, and Midline Levels: For this selected 4-hour candle, the script calculates and draws the high, low, and 50% midpoint. These levels are used as reference points for further analysis.
Fair Value Gaps (FVGs): The script detects price gaps between candles (where the third candle does not fully overlap the first), which can act as areas of potential support or resistance. The user can toggle the plotting of midlines for these gaps.
Time Restrictions: The script limits its key functionalities (e.g., detecting highs, lows, and gaps) to a specific time window, between the target hour and the end hour (e.g., 5 AM to 10 AM).
Extensions and Visibility:
The plotted high, low, and midlines of the 4-hour candle extend a certain number of bars forward for visibility.
These lines stop extending after the end of the defined session (e.g., after 10 AM).
Wick Length Calculation:
The script calculates the length of a candle's wick as a percentage of the total range of the candle, which may provide insights into market rejections or momentum shifts.
Fair Value Gap (FVG) Detection:
The script detects both bullish and bearish FVGs based on a 3-candle pattern, plotting the gaps with customizable colors. The FVGs are then drawn on the chart for visual guidance.
Midlines of these gaps can also be drawn, and outdated or filled FVGs are removed after a set number of bars or if they are filled by price action.
How to Use It
Indicator Setup:
After adding the indicator to your chart, you will be able to customize settings for your desired timezone and the target 4-hour candle. By default, the script is set to the 5 AM candle, but this can be changed to any hour depending on your analysis needs.
The "CRT Candle Start" and "CRT Candle End" allow you to define the time range when the high, low, and midlines will be plotted and tracked.
Key Levels:
The script draws white lines for the high and low of the selected 4-hour candle, along with a green dashed line for the 50% mid-level. These lines serve as significant support and resistance levels.
During the defined session (e.g., 5 AM to 10 AM), these lines will actively extend and be visible on your chart.
After the session ends, these lines stop extending but remain on the chart for reference.
Fair Value Gaps (FVGs):
The script automatically identifies gaps between candles and plots them on the chart with colored boxes (green for bullish gaps, orange for bearish gaps). These areas can serve as potential reversal or continuation zones.
You can choose whether or not to plot a dashed line at the 50% mark of these FVGs. This midline can be important for targeting partial fills or retracements.
Sweep Alerts and Higher Highs/Lower Lows:
The script monitors price action to detect when the market forms the very first higher high or lower low within the high and low range of the 4-hour candle. When a higher high or lower low is detected, the script plots a yellow label on the chart to mark the event and triggers an alert.
These events can indicate potential sweep patterns or liquidity grabs.
FVG Removal:
The script includes a feature to automatically remove FVGs when they are filled by price action or after they become too old (based on a user-defined number of bars). This helps keep the chart clean for further analysis without clutter from outdated information.
Practical Application
Intraday Traders: The script helps traders focus on specific time windows (like 5 AM to 10 AM) and provides key reference levels (high, low, midline) that can guide trading decisions. Breaks and retests of these levels are common trading strategies.
Market Reversal and Continuation: The detection of Fair Value Gaps and higher highs/lower lows within the defined range can be useful for identifying potential reversal points or continuation signals in the market.
Candle Range Theory (CRT): The script is rooted in CRT, which emphasizes the importance of high and low levels of key candles for future price action. This theory is often used by traders looking to identify support/resistance zones or liquidity grabs in the market.
In summary, CRT overlay 2 is designed for precision trading around key timeframes, focusing on levels from the 4-hour candle and incorporating Fair Value Gaps for potential trade entries or exits. Its customizable inputs make it flexible for various strategies, and its focus on time-based levels is aligned with concepts in intraday trading and market structure analysis.
Liquidity strategy tester [Influxum]This tool is based on the concept of liquidity. It includes 10 methods for identifying liquidity in the market. Although this tool is presented as a strategy, we see it more as a data-gathering instrument.
Warning: This indicator/strategy is not intended to generate profitable strategies. It is designed to identify potential market advantages and help with identifying effective entry points to capitalize on those advantages.
Once again, we have advanced the methods of effectively searching for liquidity in the market. With strategies, defined by various entry methods and risk management, you can find your edge in the market. This tool is backed by thorough testing and development, and we plan to continue improving it.
In its current form, it can also be used to test well-known ICT or Smart Money concepts. Using various methods, you can define market structure and identify areas where liquidity is located.
Fair Value Gaps - one of the entry signal options is fair value gaps, where an imbalance between buyers and sellers in the market can be expected.
Time and Price Theory - you can test this by setting liquidity from a specific session and testing entries as that liquidity is grabbed
Judas Swing - can be tested as a market reversal after a breakout during the first hours of trading.
Power of Three - accumulation can be observed as the market moving within a certain range, identified as cluster liquidity in our tool, manipulation occurs with the break of liquidity, and distribution is the direction of the entry.
🟪 Methods of Identifying Liquidity
Pivot Liquidity
This refers to liquidity formed by local extremes – the highest or lowest prices reached in the market over a certain period. The period is defined by a pivot number and determines how many candles before and after the high/low were higher/lower. Simply put, the pivot number represents the number of adjacent candles to the left and right, with a lower high for a pivot high and a higher low for a pivot low. The higher the number, the more significant the high/low is. Behind these local market extremes, we expect to find orders waiting for breakout as well as stop-losses.
Gann Swing
Similar to pivot liquidity, Gann swing identifies significant market points. However, instead of candle highs and lows, it focuses on the closing prices. A Gann swing is formed when a candle closes above (or below) several previous closes (the number is again defined by a strength parameter).
Percentage Change
Apart from ticks, percentages are also a key unit of market movement. In the search for liquidity, we monitor when a local high or low is formed. For liquidity defined by percentage change, a high must be a certain percentage higher than the last low to confirm a significant high. Similarly, a low must be a defined percentage away from the last significant high to confirm a new low. With the right percentage settings, you can eliminate market noise.
Session Range (3x)
Session range is a popular concept for finding liquidity, especially in smart money concepts (SMC). You can set up liquidity visualization for the Asian, London, or New York sessions – or even all three at once. This tool allows you to work with up to three sessions, so you can easily track how and if the market reacts to liquidity grabs during these sessions.
Tip for traders: If you want to see the reaction to liquidity grab during a specific session at a certain time (e.g., the well-known killzone), you can set the Trading session in this tool to the exact time where you want to look for potential entries.
Unfinished Auction
Based on order flow theory, an unfinished auction occurs when the market reverses sharply without filling all pending orders. In price action terms, this can be seen as two candles at a local high or low with very similar or identical highs/lows. The maximum difference between these values is defined as Tolerance, with the default setting being 3 ticks. This setting is particularly useful for filtering out noise during slower market periods, like the Asian session.
Double Tops and Bottoms
A very popular concept not only from smart money concepts but also among price pattern traders is the double bottom and double top. This occurs when the market stops and reverses at a certain price twice in a row. In the tool, you can set how many candles apart these bottoms/tops can be by adjusting the Length parameter. According to some theories, double bottoms are more effective when there is a significant peak between the two bottoms. You can set this in the tool as the Swing value, which defines how large the movement (expressed in ticks) must be between the two peaks/bottoms. The final parameter you can adjust is Tolerance, which defines the possible price difference between the two peaks/bottoms, also expressed in ticks.
Range or Cluster Liquidity
When the market stays within a certain price range, there’s a chance that breakout orders and stop-losses are accumulating outside of this range. Our tool defines ranges in two ways:
Candle balance calculates the average price within a candle (open, high, low, and close), and it defines consolidation when the centers of candles are within a certain distance from each other.
Overlap confirms consolidation when a candle overlaps with the previous one by a set percentage.
Daily, Weekly, and Monthly Highs or Lows
These options simply define liquidity as the previous day’s, week’s, or month’s highs or lows.
Visual Settings
You can easily adjust how liquidity is displayed on the chart, choosing line style, color, and thickness. To display only uncollected liquidity, select "Delete grabbed liquidity."
Liquidity Duration
This setting allows you to control how long liquidity areas remain valid. You can cancel liquidity at the end of the day, the second day, or after a specific number of candles.
🟪 Strategy
Now we come to the part of working with strategies.
Max # of bars after liquidity grab – This parameter allows you to define how many candles you can search for entry signals from the moment liquidity is grabbed. If you are using engulfing as an entry signal, which consists of 2 candles, keep in mind that this number must be at least 2. In general, if you want to test a quick and sharp reaction, set this number as low as possible. If you want to wait for a structural change after the liquidity grab, which may require more candles, set the number a bit higher.
🟪 Strategy - entries
In this section, we define the signals or situations where we can enter the market after liquidity has been taken out.
Liquidity grab - This setup triggers a trade immediately after liquidity is grabbed, meaning the trade opens as the next candle forms.
Close below, close above - This refers to situations where the price closes below liquidity, but then reverses and closes above liquidity again, suggesting the liquidity grab was a false breakout.
Over bar - This occurs when the entire candle (high and low) passes beyond the liquidity level but then experiences a pullback.
Engulfing - A popular price action pattern that is included in this tool.
2HL - weak, medium, strong - A variation of a popular candlestick pattern.
Strong bar - A strong reactionary candle that forms after a liquidity grab. If liquidity is grabbed at a low, this would be a strong long candle that closes near its high and is significantly larger compared to typical volatility.
Naked bar - A candlestick pattern we’ve tested that serves as a good confirmation of market movement.
FVG (Fair Value Gap) - A currently popular concept. This is the only signal with additional settings. “Pending FVG order valid” means if a fair value gap forms after a liquidity grab, a limit order is placed, which remains valid for a set number of candles. “FVG minimal tick size” allows you to filter based on the gap size, measured in ticks. “GAP entry model” lets you decide whether to place the limit order at the gap close or its edge.
🟪 Strategy - General
Long, short - You can choose whether to focus on long or short trades. It’s interesting to see how long and short trades yield different results across various markets.
Pyramiding - By default, the tool opens only one trade at a time. If a new signal arises while a trade is open, it won’t enter another position unless the pyramiding box is checked. You also need to set the maximum number of open trades in the Properties.
Position size - Simply set the size of the traded position.
🟪 Strategy - Time
In this section, you can set time parameters for the strategy being tested.
Test since year - As the name implies, you can limit the testing to start from a specific year.
Trading session - Define the trading session during which you want to test entries. You can also visualize the background (BG) for confirmation.
Exclude session - You can set a session period during which you prefer not to search for trades. For example, when the New York session opens, volatility can sharply increase, potentially reducing the long-term success rate of the tested setup.
🟪 Strategy - Exits
This section lets you define risk management rules.
PT & SL - Set the profit target (PT) and stop loss (SL) here.
Lowest/highest since grab - This option sets the stop loss at the lowest point after a liquidity grab at a low or at the highest point after a liquidity grab at a high. Since markets usually overshoot during liquidity grabs, it’s good practice to place the stop loss at the furthest point after the grab. You can also set your risk-reward ratio (RRR) here. A value of 1 sets an RRR of 1:1, 2 means 2:1, and so on.
Lowest/highest last # bars - Similar to the previous option, but instead of finding the extreme after a liquidity grab, it identifies the furthest point within the last number of candles. You can set how far back to look using the # bars field (for an engulfing pattern, 2 is optimal since it’s made of two candles, and the stop loss can be placed at the edge of the engulfing pattern). The RRR setting works the same way as in the previous option.
Other side liquidity grab - If this option is checked, the trade will exit when liquidity is grabbed on the opposite side (i.e., if you entered on a liquidity grab at a low, the trade will exit when liquidity is grabbed at a high).
Exit after # bars - A popular exit strategy where you close the position after a set number of candles.
Exit after # bars in profit - This option exits the trade once the position is profitable for a certain number of consecutive candles. For example, if set to 5, the position will close when 5 consecutive candles are profitable. You can also set a maximum number of candles (in the max field), ensuring the trade is closed after a certain time even if the profit condition hasn’t been met.
🟪 Alerts
Alerts are a key tool for traders to ensure they don’t miss trading opportunities. They also allow traders to manage their time effectively. Who would want to sit in front of the computer all day waiting for a trading opportunity when they could be attending to other matters? In our tool, you currently have two options for receiving alerts:
Liquidity grabs alert – if you enable this feature and set an alert, the alert will be triggered every time a candle on the current timeframe closes and intersects with the displayed liquidity line.
Entry signals alert – this feature triggers an alert when a signal for entry is generated based on the option you’ve selected in the Entry type. It’s an ideal way to be notified only when a trading opportunity appears according to your predefined rules.
Price Action Smart Money Concepts [BigBeluga]THE SMART MONEY CONCEPTS Toolkit
The Smart Money Concepts [ BigBeluga ] is a comprehensive toolkit built around the principles of "smart money" behavior, which refers to the actions and strategies of institutional investors.
The Smart Money Concepts Toolkit brings together a suite of advanced indicators that are all interconnected and built around a unified concept: understanding and trading like institutional investors, or "smart money." These indicators are not just randomly chosen tools; they are features of a single overarching framework, which is why having them all in one place creates such a powerful system.
This all-in-one toolkit provides the user with a unique experience by automating most of the basic and advanced concepts on the chart, saving them time and improving their trading ideas.
Real-time market structure analysis simplifies complex trends by pinpointing key support, resistance, and breakout levels.
Advanced order block analysis leverages detailed volume data to pinpoint high-demand zones, revealing internal market sentiment and predicting potential reversals. This analysis utilizes bid/ask zones to provide supply/demand insights, empowering informed trading decisions.
Imbalance Concepts (FVG and Breakers) allows traders to identify potential market weaknesses and areas where price might be attracted to fill the gap, creating opportunities for entry and exit.
Swing failure patterns help traders identify potential entry points and rejection zones based on price swings.
Liquidity Concepts, our advanced liquidity algorithm, pinpoints high-impact events, allowing you to predict market shifts, strong price reactions, and potential stop-loss hunting zones. This gives traders an edge to make informed trading decisions based on liquidity dynamics.
🔵 FEATURES
The indicator has quite a lot of features that are provided below:
Swing market structure
Internal market structure
Mapping structure
Adjustable market structure
Strong/Weak H&L
Sweep
Volumetric Order block / Breakers
Fair Value Gaps / Breakers (multi-timeframe)
Swing Failure Patterns (multi-timeframe)
Deviation area
Equal H&L
Liquidity Prints
Buyside & Sellside
Sweep Area
Highs and Lows (multi-timeframe)
🔵 BASIC DEMONSTRATION OF ALL FEATURES
1. MARKET STRUCTURE
The preceding image illustrates the market structure functionality within the Smart Money Concepts indicator.
➤ Solid lines: These represent the core indicator's internal structure, forming the foundation for most other components. They visually depict the overall market direction and identify major reversal points marked by significant price movements (denoted as 'x').
➤ Internal Structure: These represent an alternative internal structure with the potential to drive more rapid market shifts. This is particularly relevant when a significant gap exists in the established swing structure, specifically between the Break of Structure (BOS) and the most recent Change of High/Low (CHoCH). Identifying these formations can offer opportunities for quicker entries and potential short-term reversals.
➤ Sweeps (x): These signify potential turning points in the market where liquidity is removed from the structure. This suggests a possible trend reversal and presents crucial entry opportunities. Sweeps are identified within both swing and internal structures, providing valuable insights for informed trading decisions.
➤ Mapping structure: A tool that automatically identifies and connects significant price highs and lows, creating a zig-zag pattern. It visualizes market structure, highlights trends, support/resistance levels, and potential breakouts. Helps traders quickly grasp price action patterns and make informed decisions.
➤ Color-coded candles based on market structure: These colors visually represent the underlying market structure, making it easier for traders to quickly identify trends.
➤ Extreme H&L: It visualizes market structure with extreme high and lows, which gives perspective for macro Market Structure.
2. VOLUMETRIC ORDER BLOCKS
Order blocks are specific areas on a financial chart where significant buying or selling activity has occurred. These are not just simple zones; they contain valuable information about market dynamics. Within each of these order blocks, volume bars represent the actual buying and selling activity that took place. These volume bars offer deeper insights into the strength of the order block by showing how much buying or selling power is concentrated in that specific zone.
Additionally, these order blocks can be transformed into Breaker Blocks. When an order block fails—meaning the price breaks through this zone without reversing—it becomes a breaker block. Breaker blocks are particularly useful for trading breakouts, as they signal that the market has shifted beyond a previously established zone, offering opportunities for traders to enter in the direction of the breakout.
Here's a breakdown:
➤ Bear Order Blocks (Red): These are zones where a lot of selling happened. Traders see these areas as places where sellers were strong, pushing the price down. When the price returns to these zones, it might face resistance and drop again.
➤ Bull Order Blocks (Green): These are zones where a lot of buying happened. Traders see these areas as places where buyers were strong, pushing the price up. When the price returns to these zones, it might find support and rise again.
These Order Blocks help traders identify potential areas for entering or exiting trades based on past market activity. The volume bars inside blocks show the amount of trading activity that occurred in these blocks, giving an idea of the strength of buying or selling pressure.
➤ Breaker Block: When an order block fails, meaning the price breaks through this zone without reversing, it becomes a breaker block. This indicates a significant shift in market liquidity and structure.
➤ A bearish breaker block occurs after a bullish order block fails. This typically happens when there's an upward trend, and a certain level that was expected to support the market's rise instead gives way, leading to a sharp decline. This decline indicates that sellers have overcome the buyers, absorbing liquidity and shifting the sentiment from bullish to bearish.
Conversely, a bullish breaker block is formed from the failure of a bearish order block. In a downtrend, when a level that was expected to act as resistance is breached, and the price shoots up, it signifies that buyers have taken control, overpowering the sellers.
3. FAIR VALUE GAPS:
A fair value gap (FVG), also referred to as an imbalance, is an essential concept in Smart Money trading. It highlights the supply and demand dynamics. This gap arises when there's a notable difference between the volume of buy and sell orders. FVGs can be found across various asset classes, including forex, commodities, stocks, and cryptocurrencies.
FVGs in this toolkit have the ability to detect raids of FVG which helps to identify potential price reversals.
Mitigation option helps to change from what source FVGs will be identified: Close, Wicks or AVG.
4. SWING FAILURE PATTERN (SFP):
The Swing Failure Pattern is a liquidity engineering pattern, generally used to fill large orders. This means, the SFP generally occurs when larger players push the price into liquidity pockets with the sole objective of filling their own positions.
SFP is a technical analysis tool designed to identify potential market reversals. It works by detecting instances where the price briefly breaks a previous high or low but fails to maintain that breakout, quickly reversing direction.
How it works:
Pattern Detection: The indicator scans for price movements that breach recent highs or lows.
Reversal Confirmation: If the price quickly reverses after breaching these levels, it's identified as an SFP.
➤ SFP Display:
Bullish SFP: Marked with a green symbol when price drops below a recent low before reversing upwards.
Bearish SFP: Marked with a red symbol when price rises above a recent high before reversing downwards.
➤ Deviation Levels: After detecting an SFP, the indicator projects white lines showing potential price deviation:
For bullish SFPs, the deviation line appears above the current price.
For bearish SFPs, the deviation line appears below the current price.
These deviation levels can serve as a potential trading opportunity or areas where the reversal might lose momentum.
With Volume Threshold and Filtering of SFP traders can adjust their trading style:
Volume Threshold: This setting allows traders to filter SFPs based on the volume of the reversal candle. By setting a higher volume threshold, traders can focus on potentially more significant reversals that are backed by higher trading activity.
SFP Filtering: This feature enables traders to filter SFP detection. It includes parameters such as:
5. LIQUIDITY CONCEPTS:
➤ Equal Lows (EQL) and Equal Highs (EQH) are important concepts in liquidity-based trading.
EQL: A series of two or more swing lows that occur at approximately the same price level.
EQH: A series of two or more swing highs that occur at approximately the same price level.
EQLs and EQHs are seen as potential liquidity pools where a large number of stop loss orders or limit orders may be clustered. They can be used as potential reverse points for trades.
This multi-period feature allows traders to select less and more significant EQL and EQH:
➤ Liquidity wicks:
Liquidity wicks are a minor representation of a stop-loss hunt during the retracement of a pivot point:
➤ Buy and Sell side liquidity:
The buy side liquidity represents a concentration of potential buy orders below the current price level. When price moves into this area, it can lead to increased buying pressure due to the execution of these orders.
The sell side liquidity indicates a pool of potential sell orders below the current price level. Price movement into this area can result in increased selling pressure as these orders are executed.
➤ Sweep Liquidation Zones:
Sweep Liquidation Zones are crucial for understanding market structure and potential future price movements. They provide insights into areas where significant market participants have been forced out of their positions, potentially setting up new trading opportunities.
🔵 USAGE & EXAMPLES
The core principle behind the success of this toolkit lies in identifying "confluence." This refers to the convergence of multiple trading indicators all signaling the same information at a specific point or area. By seeking such alignment, traders can significantly enhance the likelihood of successful trades.
MS + OBs
The chart illustrates a highly bullish setup where the price is rejecting from a bullish order block (POC), while simultaneously forming a bullish Swing Failure Pattern (SFP). This occurs after an internal structure change, marked by a bullish Change of Character (CHoCH). The price broke through a bearish order block, transforming it into a breaker block, further confirming the bullish momentum.
The combination of these elements—bullish order blocks, SFP, and CHoCH—creates a powerful bullish signal, reinforcing the potential for upward movement in the market.
SFP + Bear OB
This chart above displays a bearish setup with a high probability of a price move lower. The price is currently rejecting from a bear order block, which represents a key resistance area where significant selling pressure has previously occurred. A Swing Failure Pattern (SFP) has also formed near this bear order block, indicating that the price briefly attempted to break above a recent high but failed to sustain that upward movement. This failure suggests that buyers are losing momentum, and the market could be preparing for a move to the downside.
Additionally, we can toggle on the Deviation Area in the SFP section to highlight potential levels where price deviation might occur. These deviation areas represent zones where the price is likely to react after the Swing Failure Pattern:
BUY – SELL sides + EQL
The chart showcases a bullish setup with a high probability of price breaking out of the current sell-side resistance level. The market structure indicates a formation of Equal Lows (EQL), which often suggests a build-up of liquidity that could drive the price higher.
The presence of strong buy-side pressure (69%), indicated by the green zone at the bottom, reinforces this bullish outlook. This area represents a key support zone where buyers are outpacing sellers, providing the foundation for a potential upward breakout.
EQL + Bull ChoCh
This chart illustrates a potential bullish setup, driven by the formation of Equal Lows (EQL) followed by a bullish Change of Character (CHoCH). The presence of Equal Lows often signals a liquidity build-up, which can lead to a reversal when combined with additional bullish signals.
Liquidity grab + Bull ChoCh + FVGs
This chart demonstrates a strong bullish scenario, where several important market dynamics are at play. The price begins its upward momentum from Liquidity grab following a bullish Change of Character (CHoCH), signaling the transition from a bearish phase to a bullish one.
As the price progresses, it performs liquidity grabs, which serve to gather the necessary fuel for further movement. These liquidity grabs often occur before significant price surges, as large market participants exploit these areas to accumulate positions before pushing the price higher.
The chart also highlights a market imbalance area, showing strong momentum as the price moves swiftly through this zone.
In this examples, we see how the combination of multiple “smart money” tools helps identify a potential trade opportunities. This is just one of the many scenarios that traders can spot using this toolkit. Other combinations—such as order blocks, liquidity grabs, fair value gaps, and Swing Failure Patterns (SFPs)—can also be layered on top of these concepts to further refine your trading strategy.
🔵 SETTINGS
Window: limit calculation period
Swing: limit drawing function
Mapping structure: show structural points
Algorithmic Logic: (Extreme-Adjusted) Use max high/low or pivot point calculation
Algorithmic loopback: pivot point look back
Show Last: Amount of Order block to display
Hide Overlap: hide overlapping order blocks
Construction: Size of the order blocks
Fair value gaps: Choose between normal FVG or Breaker FVG
Mitigation: (close - wick - avg) point to mitigate the order block/imbalance
SFP lookback: find a higher / lower point to improve accuracy
Threshold: remove less relevant SFP
Equal H&L: (short-mid-long term) display longer term
Liquidity Prints: Shows wicks of candles where liquidity was grabbed
Sweep Area: Identify Sweep Liquidation areas
By combining these indicators in one toolkit, traders are equipped with a comprehensive suite of tools that address every angle of the Smart Money Concept. Instead of relying on disparate tools spread across various platforms, having them integrated into a single, cohesive system allows traders to easily see confluence and make more informed trading decisions.
