Market Zone Analyzer[BullByte]Understanding the Market Zone Analyzer
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1. Purpose of the Indicator
The Market Zone Analyzer is a Pine Script™ (version 6) indicator designed to streamline market analysis on TradingView. Rather than scanning multiple separate tools, it unifies four core dimensions—trend strength, momentum, price action, and market activity—into a single, consolidated view. By doing so, it helps traders:
• Save time by avoiding manual cross-referencing of disparate signals.
• Reduce decision-making errors that can arise from juggling multiple indicators.
• Gain a clear, reliable read on whether the market is in a bullish, bearish, or sideways phase, so they can more confidently decide to enter, exit, or hold a position.
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2. Why a Trader Should Use It
• Unified View: Combines all essential market dimensions into one easy-to-read score and dashboard, eliminating the need to piece together signals manually.
• Adaptability: Automatically adjusts its internal weighting for trend, momentum, and price action based on current volatility. Whether markets are choppy or calm, the indicator remains relevant.
• Ease of Interpretation: Outputs a simple “BULLISH,” “BEARISH,” or “SIDEWAYS” label, supplemented by an intuitive on-chart dashboard and an oscillator plot that visually highlights market direction.
• Reliability Features: Built-in smoothing of the net score and hysteresis logic (requiring consecutive confirmations before flips) minimize false signals during noisy or range-bound phases.
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3. Why These Specific Indicators?
This script relies on a curated set of well-established technical tools, each chosen for its particular strength in measuring one of the four core dimensions:
1. Trend Strength:
• ADX/DMI (Average Directional Index / Directional Movement Index): Measures how strong a trend is, and whether the +DI line is above the –DI line (bullish) or vice versa (bearish).
• Moving Average Slope (Fast MA vs. Slow MA): Compares a shorter-period SMA to a longer-period SMA; if the fast MA sits above the slow MA, it confirms an uptrend, and vice versa for a downtrend.
• Ichimoku Cloud Differential (Senkou A vs. Senkou B): Provides a forward-looking view of trend direction; Senkou A above Senkou B signals bullishness, and the opposite signals bearishness.
2. Momentum:
• Relative Strength Index (RSI): Identifies overbought (above its dynamically calculated upper bound) or oversold (below its lower bound) conditions; changes in RSI often precede price reversals.
• Stochastic %K: Highlights shifts in short-term momentum by comparing closing price to the recent high/low range; values above its upper band signal bullish momentum, below its lower band signal bearish momentum.
• MACD Histogram: Measures the difference between the MACD line and its signal line; a positive histogram indicates upward momentum, a negative histogram indicates downward momentum.
3. Price Action:
• Highest High / Lowest Low (HH/LL) Range: Over a defined lookback period, this captures breakout or breakdown levels. A closing price near the recent highs (with a positive MA slope) yields a bullish score, and near the lows (with a negative MA slope) yields a bearish score.
• Heikin-Ashi Doji Detection: Uses Heikin-Ashi candles to identify indecision or continuation patterns. A small Heikin-Ashi body (doji) relative to recent volatility is scored as neutral; a larger body in the direction of the MA slope is scored bullish or bearish.
• Candle Range Measurement: Compares each candle’s high-low range against its own dynamic band (average range ± standard deviation). Large candles aligning with the prevailing trend score bullish or bearish accordingly; unusually small candles can indicate exhaustion or consolidation.
4. Market Activity:
• Bollinger Bands Width (BBW): Measures the distance between BB upper and lower bands; wide bands indicate high volatility, narrow bands indicate low volatility.
• Average True Range (ATR): Quantifies average price movement (volatility). A sudden spike in ATR suggests a volatile environment, while a contraction suggests calm.
• Keltner Channels Width (KCW): Similar to BBW but uses ATR around an EMA. Provides a second layer of volatility context, confirming or contrasting BBW readings.
• Volume (with Moving Average): Compares current volume to its moving average ± standard deviation. High volume validates strong moves; low volume signals potential lack of conviction.
By combining these tools, the indicator captures trend direction, momentum strength, price-action nuances, and overall market energy, yielding a more balanced and comprehensive assessment than any single tool alone.
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4. What Makes This Indicator Stand Out
• Multi-Dimensional Analysis: Rather than relying on a lone oscillator or moving average crossover, it simultaneously evaluates trend, momentum, price action, and activity.
• Dynamic Weighting: The relative importance of trend, momentum, and price action adjusts automatically based on real-time volatility (Market Activity State). For example, in highly volatile conditions, trend and momentum signals carry more weight; in calm markets, price action signals are prioritized.
• Stability Mechanisms:
• Smoothing: The net score is passed through a short moving average, filtering out noise, especially on lower timeframes.
• Hysteresis: Both Market Activity State and the final bullish/bearish/sideways zone require two consecutive confirmations before flipping, reducing whipsaw.
• Visual Interpretation: A fully customizable on-chart dashboard displays each sub-indicator’s value, regime, score, and comment, all color-coded. The oscillator plot changes color to reflect the current market zone (green for bullish, red for bearish, gray for sideways) and shows horizontal threshold lines at +2, 0, and –2.
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5. Recommended Timeframes
• Short-Term (5 min, 15 min): Day traders and scalpers can benefit from rapid signals, but should enable smoothing (and possibly disable hysteresis) to reduce false whipsaws.
• Medium-Term (1 h, 4 h): Swing traders find a balance between responsiveness and reliability. Less smoothing is required here, and the default parameters (e.g., ADX length = 14, RSI length = 14) perform well.
• Long-Term (Daily, Weekly): Position traders tracking major trends can disable smoothing for immediate raw readings, since higher-timeframe noise is minimal. Adjust lookback lengths (e.g., increase adxLength, rsiLength) if desired for slower signals.
Tip: If you keep smoothing off, stick to timeframes of 1 h or higher to avoid excessive signal “chatter.”
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6. How Scoring Works
A. Individual Indicator Scores
Each sub-indicator is assigned one of three discrete scores:
• +1 if it indicates a bullish condition (e.g., RSI above its dynamically calculated upper bound).
• 0 if it is neutral (e.g., RSI between upper and lower bounds).
• –1 if it indicates a bearish condition (e.g., RSI below its dynamically calculated lower bound).
Examples of individual score assignments:
• ADX/DMI:
• +1 if ADX ≥ adxThreshold and +DI > –DI (strong bullish trend)
• –1 if ADX ≥ adxThreshold and –DI > +DI (strong bearish trend)
• 0 if ADX < adxThreshold (trend strength below threshold)
• RSI:
• +1 if RSI > RSI_upperBound
• –1 if RSI < RSI_lowerBound
• 0 otherwise
• ATR (as part of Market Activity):
• +1 if ATR > (ATR_MA + stdev(ATR))
• –1 if ATR < (ATR_MA – stdev(ATR))
• 0 otherwise
Each of the four main categories shares this same +1/0/–1 logic across their sub-components.
B. Category Scores
Once each sub-indicator reports +1, 0, or –1, these are summed within their categories as follows:
• Trend Score = (ADX score) + (MA slope score) + (Ichimoku differential score)
• Momentum Score = (RSI score) + (Stochastic %K score) + (MACD histogram score)
• Price Action Score = (Highest-High/Lowest-Low score) + (Heikin-Ashi doji score) + (Candle range score)
• Market Activity Raw Score = (BBW score) + (ATR score) + (KC width score) + (Volume score)
Each category’s summed value can range between –3 and +3 (for Trend, Momentum, and Price Action), and between –4 and +4 for Market Activity raw.
C. Market Activity State and Dynamic Weight Adjustments
Rather than contributing directly to the netScore like the other three categories, Market Activity determines how much weight to assign to Trend, Momentum, and Price Action:
1. Compute Market Activity Raw Score by summing BBW, ATR, KCW, and Volume individual scores (each +1/0/–1).
2. Bucket into High, Medium, or Low Activity:
• High if raw Score ≥ 2 (volatile market).
• Low if raw Score ≤ –2 (calm market).
• Medium otherwise.
3. Apply Hysteresis (if enabled): The state only flips after two consecutive bars register the same high/low/medium label.
4. Set Category Weights:
• High Activity: Trend = 50 %, Momentum = 35 %, Price Action = 15 %.
• Low Activity: Trend = 25 %, Momentum = 20 %, Price Action = 55 %.
• Medium Activity: Use the trader’s base weight inputs (e.g., Trend = 40 %, Momentum = 30 %, Price Action = 30 % by default).
D. Calculating the Net Score
5. Normalize Base Weights (so that the sum of Trend + Momentum + Price Action always equals 100 %).
6. Determine Current Weights based on the Market Activity State (High/Medium/Low).
7. Compute Each Category’s Contribution: Multiply (categoryScore) × (currentWeight).
8. Sum Contributions to get the raw netScore (a floating-point value that can exceed ±3 when scores are strong).
9. Smooth the netScore over two bars (if smoothing is enabled) to reduce noise.
10. Apply Hysteresis to the Final Zone:
• If the smoothed netScore ≥ +2, the bar is classified as “Bullish.”
• If the smoothed netScore ≤ –2, the bar is classified as “Bearish.”
• Otherwise, it is “Sideways.”
• To prevent rapid flips, the script requires two consecutive bars in the new zone before officially changing the displayed zone (if hysteresis is on).
E. Thresholds for Zone Classification
• BULLISH: netScore ≥ +2
• BEARISH: netScore ≤ –2
• SIDEWAYS: –2 < netScore < +2
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7. Role of Volatility (Market Activity State) in Scoring
Volatility acts as a dynamic switch that shifts which category carries the most influence:
1. High Activity (Volatile):
• Detected when at least two sub-scores out of BBW, ATR, KCW, and Volume equal +1.
• The script sets Trend weight = 50 % and Momentum weight = 35 %. Price Action weight is minimized at 15 %.
• Rationale: In volatile markets, strong trending moves and momentum surges dominate, so those signals are more reliable than nuanced candle patterns.
2. Low Activity (Calm):
• Detected when at least two sub-scores out of BBW, ATR, KCW, and Volume equal –1.
• The script sets Price Action weight = 55 %, Trend = 25 %, and Momentum = 20 %.
• Rationale: In quiet, sideways markets, subtle price-action signals (breakouts, doji patterns, small-range candles) are often the best early indicators of a new move.
3. Medium Activity (Balanced):
• Raw Score between –1 and +1 from the four volatility metrics.
• Uses whatever base weights the trader has specified (e.g., Trend = 40 %, Momentum = 30 %, Price Action = 30 %).
Because volatility can fluctuate rapidly, the script employs hysteresis on Market Activity State: a new High or Low state must occur on two consecutive bars before weights actually shift. This avoids constant back-and-forth weight changes and provides more stability.
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8. Scoring Example (Hypothetical Scenario)
• Symbol: Bitcoin on a 1-hour chart.
• Market Activity: Raw volatility sub-scores show BBW (+1), ATR (+1), KCW (0), Volume (+1) → Total raw Score = +3 → High Activity.
• Weights Selected: Trend = 50 %, Momentum = 35 %, Price Action = 15 %.
• Trend Signals:
• ADX strong and +DI > –DI → +1
• Fast MA above Slow MA → +1
• Ichimoku Senkou A > Senkou B → +1
→ Trend Score = +3
• Momentum Signals:
• RSI above upper bound → +1
• MACD histogram positive → +1
• Stochastic %K within neutral zone → 0
→ Momentum Score = +2
• Price Action Signals:
• Highest High/Lowest Low check yields 0 (close not near extremes)
• Heikin-Ashi doji reading is neutral → 0
• Candle range slightly above upper bound but trend is strong, so → +1
→ Price Action Score = +1
• Compute Net Score (before smoothing):
• Trend contribution = 3 × 0.50 = 1.50
• Momentum contribution = 2 × 0.35 = 0.70
• Price Action contribution = 1 × 0.15 = 0.15
• Raw netScore = 1.50 + 0.70 + 0.15 = 2.35
• Since 2.35 ≥ +2 and hysteresis is met, the final zone is “Bullish.”
Although the netScore lands at 2.35 (Bullish), smoothing might bring it slightly below 2.00 on the first bar (e.g., 1.90), in which case the script would wait for a second consecutive reading above +2 before officially classifying the zone as Bullish (if hysteresis is enabled).
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9. Correlation Between Categories
The four categories—Trend Strength, Momentum, Price Action, and Market Activity—often reinforce or offset one another. The script takes advantage of these natural correlations:
• Bullish Alignment: If ADX is strong and pointed upward, fast MA is above slow MA, and Ichimoku is positive, that usually coincides with RSI climbing above its upper bound and the MACD histogram turning positive. In such cases, both Trend and Momentum categories generate +1 or +2. Because the Market Activity State is likely High (given the accompanying volatility), Trend and Momentum weights are at their peak, so the netScore quickly crosses into Bullish territory.
• Sideways/Consolidation: During a low-volatility, sideways phase, ADX may fall below its threshold, MAs may flatten, and RSI might hover in the neutral band. However, subtle price-action signals (like a small breakout candle or a Heikin-Ashi candle with a slight bias) can still produce a +1 in the Price Action category. If Market Activity is Low, Price Action’s weight (55 %) can carry enough influence—even if Trend and Momentum are neutral—to push the netScore out of “Sideways” into a mild bullish or bearish bias.
• Opposing Signals: When Trend is bullish but Momentum turns negative (for example, price continues up but RSI rolls over), the two scores can partially cancel. Market Activity may remain Medium, in which case the netScore lingers near zero (Sideways). The trader can then wait for either a clearer momentum shift or a fresh price-action breakout before committing.
By dynamically recognizing these correlations and adjusting weights, the indicator ensures that:
• When Trend and Momentum align (and volatility supports it), the netScore leaps strongly into Bullish or Bearish.
• When Trend is neutral but Price Action shows an early move in a low-volatility environment, Price Action’s extra weight in the Low Activity State can still produce actionable signals.
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10. Market Activity State & Its Role (Detailed)
The Market Activity State is not a direct category score—it is an overarching context setter for how heavily to trust Trend, Momentum, or Price Action. Here’s how it is derived and applied:
1. Calculate Four Volatility Sub-Scores:
• BBW: Compare the current band width to its own moving average ± standard deviation. If BBW > (BBW_MA + stdev), assign +1 (high volatility); if BBW < (BBW_MA × 0.5), assign –1 (low volatility); else 0.
• ATR: Compare ATR to its moving average ± standard deviation. A spike above the upper threshold is +1; a contraction below the lower threshold is –1; otherwise 0.
• KCW: Same logic as ATR but around the KCW mean.
• Volume: Compare current volume to its volume MA ± standard deviation. Above the upper threshold is +1; below the lower threshold is –1; else 0.
2. Sum Sub-Scores → Raw Market Activity Score: Range between –4 and +4.
3. Assign Market Activity State:
• High Activity: Raw Score ≥ +2 (at least two volatility metrics are strongly spiking).
• Low Activity: Raw Score ≤ –2 (at least two metrics signal unusually low volatility or thin volume).
• Medium Activity: Raw Score is between –1 and +1 inclusive.
4. Hysteresis for Stability:
• If hysteresis is enabled, a new state only takes hold after two consecutive bars confirm the same High, Medium, or Low label.
• This prevents the Market Activity State from bouncing around when volatility is on the fence.
5. Set Category Weights Based on Activity State:
• High Activity: Trend = 50 %, Momentum = 35 %, Price Action = 15 %.
• Low Activity: Trend = 25 %, Momentum = 20 %, Price Action = 55 %.
• Medium Activity: Use trader’s base weights (e.g., Trend = 40 %, Momentum = 30 %, Price Action = 30 %).
6. Impact on netScore: Because category scores (–3 to +3) multiply by these weights, High Activity amplifies the effect of strong Trend and Momentum scores; Low Activity amplifies the effect of Price Action.
7. Market Context Tooltip: The dashboard includes a tooltip summarizing the current state—e.g., “High activity, trend and momentum prioritized,” “Low activity, price action prioritized,” or “Balanced market, all categories considered.”
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11. Category Weights: Base vs. Dynamic
Traders begin by specifying base weights for Trend Strength, Momentum, and Price Action that sum to 100 %. These apply only when volatility is in the Medium band. Once volatility shifts:
• High Volatility Overrides:
• Trend jumps from its base (e.g., 40 %) to 50 %.
• Momentum jumps from its base (e.g., 30 %) to 35 %.
• Price Action is reduced to 15 %.
Example: If base weights were Trend = 40 %, Momentum = 30 %, Price Action = 30 %, then in High Activity they become 50/35/15. A Trend score of +3 now contributes 3 × 0.50 = +1.50 to netScore; a Momentum +2 contributes 2 × 0.35 = +0.70. In total, Trend + Momentum can easily push netScore above the +2 threshold on its own.
• Low Volatility Overrides:
• Price Action leaps from its base (30 %) to 55 %.
• Trend falls to 25 %, Momentum falls to 20 %.
Why? When markets are quiet, subtle candle breakouts, doji patterns, and small-range expansions tend to foreshadow the next swing more effectively than raw trend readings. A Price Action score of +3 in this state contributes 3 × 0.55 = +1.65, which can carry the netScore toward +2—even if Trend and Momentum are neutral or only mildly positive.
Because these weight shifts happen only after two consecutive bars confirm a High or Low state (if hysteresis is on), the indicator avoids constantly flipping its emphasis during borderline volatility phases.
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12. Dominant Category Explained
Within the dashboard, a label such as “Trend Dominant,” “Momentum Dominant,” or “Price Action Dominant” appears when one category’s absolute weighted contribution to netScore is the largest. Concretely:
• Compute each category’s weighted contribution = (raw category score) × (current weight).
• Compare the absolute values of those three contributions.
• The category with the highest absolute value is flagged as Dominant for that bar.
Why It Matters:
• Momentum Dominant: Indicates that the combined force of RSI, Stochastic, and MACD (after weighting) is pushing netScore farther than either Trend or Price Action. In practice, it means that short-term sentiment and speed of change are the primary drivers right now, so traders should watch for continued momentum signals before committing to a trade.
• Trend Dominant: Means ADX, MA slope, and Ichimoku (once weighted) outweigh the other categories. This suggests a strong directional move is in place; trend-following entries or confirming pullbacks are likely to succeed.
• Price Action Dominant: Occurs when breakout/breakdown patterns, Heikin-Ashi candle readings, and range expansions (after weighting) are the most influential. This often happens in calmer markets, where subtle shifts in candle structure can foreshadow bigger moves.
By explicitly calling out which category is carrying the most weight at any moment, the dashboard gives traders immediate insight into why the netScore is tilting toward bullish, bearish, or sideways.
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13. Oscillator Plot: How to Read It
The “Net Score” oscillator sits below the dashboard and visually displays the smoothed netScore as a line graph. Key features:
1. Value Range: In normal conditions it oscillates roughly between –3 and +3, but extreme confluences can push it outside that range.
2. Horizontal Threshold Lines:
• +2 Line (Bullish threshold)
• 0 Line (Neutral midline)
• –2 Line (Bearish threshold)
3. Zone Coloring:
• Green Background (Bullish Zone): When netScore ≥ +2.
• Red Background (Bearish Zone): When netScore ≤ –2.
• Gray Background (Sideways Zone): When –2 < netScore < +2.
4. Dynamic Line Color:
• The plotted netScore line itself is colored green in a Bullish Zone, red in a Bearish Zone, or gray in a Sideways Zone, creating an immediate visual cue.
Interpretation Tips:
• Crossing Above +2: Signals a strong enough combined trend/momentum/price-action reading to classify as Bullish. Many traders wait for a clear crossing plus a confirmation candle before entering a long position.
• Crossing Below –2: Indicates a strong Bearish signal. Traders may consider short or exit strategies.
• Rising Slope, Even Below +2: If netScore climbs steadily from neutral toward +2, it demonstrates building bullish momentum.
• Divergence: If price makes a higher high but the oscillator fails to reach a new high, it can warn of weakening momentum and a potential reversal.
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14. Comments and Their Necessity
Every sub-indicator (ADX, MA slope, Ichimoku, RSI, Stochastic, MACD, HH/LL, Heikin-Ashi, Candle Range, BBW, ATR, KCW, Volume) generates a short comment that appears in the detailed dashboard. Examples:
• “Strong bullish trend” or “Strong bearish trend” for ADX/DMI
• “Fast MA above slow MA” or “Fast MA below slow MA” for MA slope
• “RSI above dynamic threshold” or “RSI below dynamic threshold” for RSI
• “MACD histogram positive” or “MACD histogram negative” for MACD Hist
• “Price near highs” or “Price near lows” for HH/LL checks
• “Bullish Heikin Ashi” or “Bearish Heikin Ashi” for HA Doji scoring
• “Large range, trend confirmed” or “Small range, trend contradicted” for Candle Range
Additionally, the top-row comment for each category is:
• Trend: “Highly Bullish,” “Highly Bearish,” or “Neutral Trend.”
• Momentum: “Strong Momentum,” “Weak Momentum,” or “Neutral Momentum.”
• Price Action: “Bullish Action,” “Bearish Action,” or “Neutral Action.”
• Market Activity: “Volatile Market,” “Calm Market,” or “Stable Market.”
Reasons for These Comments:
• Transparency: Shows exactly how each sub-indicator contributed to its category score.
• Education: Helps traders learn why a category is labeled bullish, bearish, or neutral, building intuition over time.
• Customization: If, for example, the RSI comment says “RSI neutral” despite an impending trend shift, a trader might choose to adjust RSI length or thresholds.
In the detailed dashboard, hovering over each comment cell also reveals a tooltip with additional context (e.g., “Fast MA above slow MA” or “Senkou A above Senkou B”), helping traders understand the precise rule behind that +1, 0, or –1 assignment.
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15. Real-Life Example (Consolidated)
• Instrument & Timeframe: Bitcoin (BTCUSD), 1-hour chart.
• Current Market Activity: BBW and ATR both spike (+1 each), KCW is moderately high (+1), but volume is only neutral (0) → Raw Market Activity Score = +2 → State = High Activity (after two bars, if hysteresis is on).
• Category Weights Applied: Trend = 50 %, Momentum = 35 %, Price Action = 15 %.
• Trend Sub-Scores:
1. ADX = 25 (above threshold 20) with +DI > –DI → +1.
2. Fast MA (20-period) sits above Slow MA (50-period) → +1.
3. Ichimoku: Senkou A > Senkou B → +1.
→ Trend Score = +3.
• Momentum Sub-Scores:
4. RSI = 75 (above its moving average +1 stdev) → +1.
5. MACD histogram = +0.15 → +1.
6. Stochastic %K = 50 (mid-range) → 0.
→ Momentum Score = +2.
• Price Action Sub-Scores:
7. Price is not within 1 % of the 20-period high/low and slope = positive → 0.
8. Heikin-Ashi body is slightly larger than stdev over last 5 bars with haClose > haOpen → +1.
9. Candle range is just above its dynamic upper bound but trend is already captured, so → +1.
→ Price Action Score = +2.
• Calculate netScore (before smoothing):
• Trend contribution = 3 × 0.50 = 1.50
• Momentum contribution = 2 × 0.35 = 0.70
• Price Action contribution = 2 × 0.15 = 0.30
• Raw netScore = 1.50 + 0.70 + 0.30 = 2.50 → Immediately classified as Bullish.
• Oscillator & Dashboard Output:
• The oscillator line crosses above +2 and turns green.
• Dashboard displays:
• Trend Regime “BULLISH,” Trend Score = 3, Comment = “Highly Bullish.”
• Momentum Regime “BULLISH,” Momentum Score = 2, Comment = “Strong Momentum.”
• Price Action Regime “BULLISH,” Price Action Score = 2, Comment = “Bullish Action.”
• Market Activity State “High,” Comment = “Volatile Market.”
• Weights: Trend 50 %, Momentum 35 %, Price Action 15 %.
• Dominant Category: Trend (because 1.50 > 0.70 > 0.30).
• Overall Score: 2.50, posCount = (three +1s in Trend) + (two +1s in Momentum) + (two +1s in Price Action) = 7 bullish signals, negCount = 0.
• Final Zone = “BULLISH.”
• The trader sees that both Trend and Momentum are reinforcing each other under high volatility. They might wait one more candle for confirmation but already have strong evidence to consider a long.
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Disclaimer
This indicator is strictly a technical analysis tool and does not constitute financial advice. All trading involves risk, including potential loss of capital. Past performance is not indicative of future results. Traders should:
• Always backtest the “Market Zone Analyzer ” on their chosen symbols and timeframes before committing real capital.
• Combine this tool with sound risk management, position sizing, and, if possible, fundamental analysis.
• Understand that no indicator is foolproof; always be prepared for unexpected market moves.
Goodluck
-BullByte!
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ค้นหาในสคริปต์สำหรับ "low"
Chart Patterns [ActiveQuants]The Chart Patterns indicator is a comprehensive tool designed to automatically identify a variety of common chart patterns directly on your price chart. By detecting sequences of pivot highs and lows , this indicator helps traders spot potential trend continuations , reversals , and key market structures such as Double Tops and Double Bottoms . Enhance your technical analysis by quickly recognizing these formations as they emerge.
How It Works
The indicator operates in a two-stage process:
Pivot Point Detection: It first identifies significant swing highs and swing lows (pivot points) based on a user-defined Period . These pivots form the fundamental building blocks for pattern recognition.
Pattern Recognition: Using the sequence of these detected pivot points, the script then applies logical rules to identify the following patterns:
Lower Low (LL)
Lower Low & Lower High (LL & LH)
Higher High (HH)
Higher High & Higher Low (HH & HL)
Double Tops
Double Bottoms
Patterns are drawn on the chart with connecting lines and labeled for easy identification. Double Tops and Double Bottoms also feature a status system: " Active " while forming, " Confirmed " upon neckline breakout, or " Invalid " if specific conditions negate the pattern before confirmation.
█ KEY FEATURES
Comprehensive Pattern Detection: Identifies six distinct types of chart patterns, offering insights into both trend continuation and potential reversals.
Pivot-Based Analysis: Uses a robust method of identifying pivot highs and lows as the foundation for pattern formation.
Pattern Status for Double Tops/Bottoms:
- Active: A Double Top or Double Bottom pattern has formed its two peaks/troughs and the intervening neckline point, but the price has not yet broken beyond the neckline. The pattern is developing .
- Confirmed: The price has decisively closed beyond the neckline (below for Double Top, above for Double Bottom), signaling a potential entry or validation of the pattern.
- Invalid: An " Active " Double Top or Double Bottom pattern can be invalidated if, before a neckline breakout occurs, a new pivot point forms that negates the pattern’s structural integrity. For example, if a new pivot low forms above or at the neckline of an Active Double Top, the pattern is considered invalid because the market failed to break down and instead showed relative strength.
Customizable Visuals: Allows users to define colors for bullish and bearish patterns, line widths, and the visibility of pivot points.
Selective Pattern Display: Users can choose to display all patterns or filter by status (Active, Confirmed, Invalid) for Double Tops/Bottoms. Individual pattern types can also be toggled on or off.
Historical Analysis Control: The Show Last History (Bars) input allows users to specify how far back the indicator should plot patterns, optimizing performance and chart readability.
Clear Labeling: Patterns are clearly labeled on the chart, with Double Tops/Bottoms also showing " Top 1 ," " Top 2 ," or " Bottom 1 ," " Bottom 2 " labels.
█ PATTERNS DETECTED
Lower Low (LL): Indicates a potential bearish continuation or the start of a downtrend. Forms when price makes a lower low during an uptrend.
Lower Low & Lower High (LL & LH): A stronger confirmation of a bearish trend, where the market forms a lower low followed by a lower high .
Higher High (HH): Signals a potential bullish continuation or the start of an uptrend. Forms when price makes a higher high during a downtrend.
Higher High & Higher Low (HH & HL): A stronger confirmation of a bullish trend, where the market forms a higher high followed by a higher low .
Double Top: A bearish reversal pattern characterized by two distinct peaks at roughly the same price level, separated by a trough (neckline). Confirmation occurs when price breaks below the neckline.
Double Bottom: A bullish reversal pattern featuring two distinct troughs at roughly the same price level, separated by a peak (neckline). Confirmation occurs when price breaks above the neckline.
█ EXAMPLE: DOUBLE TOP INVALIDATION
Understanding how a Double Top or Double Bottom can be invalidated is crucial. Here's an example for a Double Top:
Formation: The indicator identifies two peaks (Top 1, Top 2) at a similar price level, with a corrective trough (Neckline Pivot P5) in between. The pattern is labeled " Double Top " and is in an " Active " state. ( Imagine points P4 and P6 are the two tops, and P5 is the low point of the neckline between them ).
Pre-Breakout Condition: The price action continues, but before it breaks decisively below the P5 neckline level, a new significant swing low (a new pivot low) forms.
Invalidation Check: The indicator checks the price level of this new pivot low. If this new pivot low occurs at a price equal to or higher than the P5 neckline level, the " Active " Double Top pattern is re-labeled as " Invalid Double Top ". ( See image below for a visual representation of this scenario )
In this example, the Double Top formed with Top 1 (P4) and Top 2 (P6). The neckline is at P5. Before price broke below P5, a new pivot low formed at the red circle. Since this new pivot low is above the P5 neckline, the Double Top is marked " Invalid ".
The logic is that the market failed to break the neckline support and instead established a higher low (or a low at the support level), suggesting that the immediate bearish pressure has waned, thus invalidating the bearish reversal implication of the Double Top before it could confirm. A similar logic applies to Double Bottoms (a new pivot high forming below or at the neckline before an upside breakout).
█ USER INPUTS
Visibility and Common Styling
- Show Last History (Bars):
Specifies the number of recent bars the indicator will analyze and plot patterns on.
Default: 3000 bars. Min: 10.
- Patterns:
Filters which patterns are displayed based on their status.
Options: All, Active, Confirmed, Invalid.
Default: All.
- Pattern Line Width:
Sets the thickness of the lines used to draw the patterns.
Default: 1. Min: 1, Max: 10.
- Bearish Color:
Color for bearish patterns (LL, LL & LH, Double Tops).
Default: Red.
- Bullish Color:
Color for bullish patterns (HH, HH & HL, Double Bottoms).
Default: Green.
Pivot Points
- Period:
The lookback period on either side of a bar to qualify it as a pivot high or low. Higher values detect more significant pivots.
Default: 10 bars. Min: 2.
- Show Pivot Highs:
Toggles the visibility of detected pivot high markers.
Default: Enabled.
- Show Pivot Lows:
Toggles the visibility of detected pivot low markers.
Default: Enabled.
- Pivot Highs Color:
Color for the pivot high markers.
Default: #ff5252 (Reddish).
- Pivot Lows Color:
Color for the pivot low markers.
Default: #089981 (Greenish).
Patterns (Toggles)
- Lower Low:
Enable/disable detection and display of Lower Low patterns.
Default: Enabled.
- Lower Low & Lower High:
Enable/disable detection and display of Lower Low & Lower High patterns.
Default: Enabled.
- Higher High:
Enable/disable detection and display of Higher High patterns.
Default: Enabled.
- Higher High & Higher Low:
Enable/disable detection and display of Higher High & Higher Low patterns.
Default: Enabled.
- Double Tops:
Enable/disable detection and display of Double Top patterns.
Default: Enabled.
- Double Bottoms:
Enable/disable detection and display of Double Bottom patterns.
Default: Enabled.
█ CONCLUSION
The Chart Patterns indicator is a versatile and powerful assistant for traders who utilize classical chart pattern analysis. By automating the detection of key formations and providing clear visual cues along with status updates for patterns like Double Tops and Bottoms, it allows traders to focus on strategy development and execution. With its customizable settings, it can be adapted to various instruments and timeframes, making it a valuable addition to any technical trader's toolkit.
█ IMPORTANT NOTES
⚠ Pivot Period Sensitivity: The Period setting for pivot detection is crucial. A shorter period will identify more frequent, smaller swings, while a longer period will focus on more significant turning points. Adjust this setting based on the asset's volatility, the timeframe you are trading and your trading style.
⚠ Confirmation is Key: While the indicator identifies patterns, always wait for pattern confirmation (e.g., neckline breaks for Double Tops/Bottoms) and consider other factors like volume and market context before making trading decisions.
⚠ Confirmed Bars for Detection: Patterns are identified based on confirmed pivot points, which means a pivot is recognized period bars after it has formed. Status updates for Double Tops/Bottoms (Active, Confirmed, Invalid) also occur on confirmed bars. This approach enhances reliability and reduces the likelihood of repainting based on intra-bar price fluctuations.
⚠ Not a Standalone System: Chart patterns provide valuable insights, but they should be used in conjunction with other technical analysis tools (e.g., trendlines, moving averages, oscillators) and a sound risk management plan.
⚠ Lagging Nature: By their very definition, chart patterns are lagging indicators as they require a sequence of price action and several pivot points to complete their formation.
█ RISK DISCLAIMER
Trading involves a substantial risk of loss and is not suitable for every investor. The information provided by the Chart Patterns indicator is for educational and informational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any security. Chart patterns indicate potential price movements but do not guarantee future results. Always perform your own due diligence and consult with a qualified financial advisor before making any investment decisions. Past performance is not indicative of future results.
📈 Happy trading! 🚀
Dow waveform analyzerDow Waveform Analyzer
1. Overview and Features of the Indicator
This indicator is a tool designed to analyze chart waveforms based on Dow Theory, identifying swing lows (support) and swing highs (resistance). It allows users to quickly and consistently determine trend direction. Compared to manual analysis, it provides more efficient and accurate results.
By using swing lows and swing highs, the indicator offers a more detailed understanding of trends than simple updates to highs and lows, aiding in the creation of effective trading strategies.
2. Identifying Wave Lows and Highs
Stock prices do not move in straight lines; instead, they rise and fall in waves. This indicator starts by identifying the wave lows and wave highs.
- Wave Low: The lowest point during a temporary price decline.
- Wave High: The highest point during a temporary price increase.
These are automatically identified using Pine Script’s built-in functions `pivotlow` and `pivothigh`.
3. Drawing the Waveform
The identified wave lows and highs are alternately connected to draw the waveform. However, there are cases where wave lows or highs occur consecutively:
- Consecutive Wave Lows: The lower low is used for drawing the waveform.
- Consecutive Wave Highs: The higher high is used for drawing the waveform.
4. Tracking Swing Lows/Highs and Trend Determination
Swing lows and swing highs are crucial markers that indicate the state of wave progression:
- Swing Low: The starting point of a wave (wave low) when the closing price exceeds the previous wave high.
- Swing High: The starting point of a wave (wave high) when the closing price falls below the previous wave low.
The changes in swing lows and swing highs as the waves progress allow for trend state determination.
5. Examples of Trend States
During an Uptrend:
- When the price surpasses a wave high, the swing low is updated, confirming the continuation of the uptrend.
End of an Uptrend:
- When the price falls below the swing low, the swing low disappears, and a swing high appears, signaling the end of the uptrend.
Sideways Movement:
- Swing lows and swing highs alternately appear, indicating a sideways trend.
Start of a Downtrend:
- When the price breaks below a wave low for the first time, the swing high is updated, confirming the start of the downtrend.
During a Downtrend:
- When the price breaks below a wave low, the swing high is updated, confirming the continuation of the downtrend.
End of a Downtrend:
- When the price surpasses a wave high, the swing high disappears, and a swing low reappears, signaling the end of the downtrend.
Restart of an Uptrend:
- When the swing low is updated, the uptrend resumes. The uptrend begins when the price surpasses a wave high, and the swing low is updated for the first time.
6. Applications
Trade Entries and Exits:
- Set stop orders for entry at the price level where a trend starts.
- Set stop orders for exit at the price level where a trend ends.
Trend Filtering:
- Use the indicator to confirm whether market conditions are suitable for entry based on the trend state. Analyze waveforms to aid trading strategies.
Guide for Drawing Trendlines:
- Utilize wave lows and highs as starting and ending points when drawing trendlines with drawing tools.
7. Parameters and Display Items
Pivot Points:
- Wave lows are marked with circles below the candlestick’s low, and wave highs are marked with circles above the candlestick’s high.
Number of Bars for Pivot Calculation:
- Specify the number of bars on either side used to identify highs (default: 2).
Waveform:
- Specify the color (default: blue) or toggle its visibility (default: visible).
Swing Lows/Highs:
- Displayed as large circles. The rightmost large circle on the chart indicates the current swing low or swing high. Historical swing points are also displayed to show the progression of state changes. Specify the color (default: green) or toggle visibility (default: visible).
1. インジケーターの概要と特徴
このインジケーターは、ダウ理論を基にチャートの波形を分析し、押し安値や戻り高値を特定するツールです。これにより、トレンドの方向を迅速かつ一貫して判断できます。手動での分析と比較して、効率的かつ精度の高い結果が得られる点が特徴です。
押し安値や戻り高値を利用することで、単純な高値・安値の更新よりも詳細にトレンドの状況を把握し、効果的な取引戦略の構築に役立ちます。
2. 波の谷と波の頂の特定
株価は直線的に動くのではなく、波を描きながら上昇や下落を繰り返します。このインジケーターは、まず波の谷と波の頂を特定するところから始まります。
波の谷: 一時的な下落の最安値
波の頂: 一時的な上昇の最高値
これらを Pine Script の内蔵関数（ピボットローとピボットハイ）を用いて自動的に特定しています。
3. 波形の描画方法
特定した波の谷と波の頂を交互に結んで波形を描画します。ただし、波の谷や頂が連続する場合があります。
波の谷が連続する場合: より低い谷を採用して波形を描く
波の頂が連続する場合: より高い頂を採用して波形を描く
4. 押し安値・戻り高値の追跡とトレンド判断
押し安値と戻り高値は、波の進行状況を示す重要な指標です。
押し安値: 終値が前回の高値を超えた際の波の谷
戻り高値: 終値が前回の安値を割り込んだ際の波の頂
波の進行に伴う押し安値・戻り高値の変化から、トレンドの状態を判断します。
5. トレンド状態の具体例
上昇トレンド中:
波の頂を株価が上抜け押し安値が更新され続けることで上昇トレンドを継続。
上昇トレンドの終了:
株価が押し安値を割ると、押し安値が消え、戻り高値が新たに出現して、上昇トレンドを終了。
横ばい状態:
押し安値と戻り高値が交互に切り替わる。
下降トレンドの開始:
波の谷を株価が下抜け戻り高値がはじめて更新されることで下降トレンド開始を確認。
下降トレンド中:
波の谷を株価が下抜け戻り高値が更新され続けることで下降トレンドを継続。
下降トレンドの終了:
株価が波の頂を超えると、戻り高値が消え、押し安値が再び出現して、下降トレンドを終了。
横ばい状態:
押し安値と戻り高値が交互に切り替わる。
上昇トレンドの再開:
押し安値が更新されることで上昇トレンドを確認。
波の頂を株価が上抜け押し安値がはじめて更新されることで上昇トレンド開始を確認。
6. 応用例
トレードのエントリーとエグジット:
トレンド発生の価格に逆指値を設定してエントリー。
トレンド終了の価格に逆指値を設定してエグジット。
トレンドフィルターとして活用:
エントリーに適したトレンド状況かを確認。波形を分析してトレード戦略の参考に。
トレンドラインを描く時の参考として活用:
波の谷と頂を描画ツールを使ってトレンドラインを描く時の起点や終点として活用。
7. パラメーターと表示項目
ピボット: 波の谷はローソク足の安値にサークルを表示、波の頂はローソク足の高値にサークルを表示。
ピボット計算用のバーの数: 高値を特定するために左右何本のローソク足を使用するかを設定（初期値: 2）。
波形: 色（初期値: 青）や表示（初期値: 表示）の指定。
押し安値・戻り高値: 大きなサークルで表示。チャートの一番右の大きなサークルが現在のもの。過去のものも状態変化の経緯を示すために表示。色（初期値: 緑）や表示（初期値: 表示）の指定。
DCA Percent SignalOverview
The DCA Percent Signal Indicator generates buy and sell signals based on percentage drops from all-time highs and percentage gains from lowest lows since ATH. This indicator is designed for pyramiding strategies where each signal represents a configurable percentage of equity allocation.
Definitions
DCA (Dollar-Cost Averaging): An investment strategy where you invest a fixed amount at regular intervals, regardless of price fluctuations. This indicator generates signals for a DCA-style pyramiding approach.
Gann Bar Types: Classification system for price bars based on their relationship to the previous bar:
Up Bar: High > previous high AND low ≥ previous low
Down Bar: High ≤ previous high AND low < previous low
Inside Bar: High ≤ previous high AND low ≥ previous low
Outside Bar: High > previous high AND low < previous low
ATH (All-Time High): The highest price level reached during the entire chart period
ATL (All-Time Low): The lowest price level reached since the most recent ATH
Pyramiding: A trading strategy that adds to positions on favorable price movements
Look-Ahead Bias: Using future information that wouldn't be available in real-time trading
Default Properties
Signal Thresholds:
Buy Threshold: 10% (triggers every 10% drop from ATH)
Sell Threshold: 30% (triggers every 30% gain from lowest low since ATH)
Price Sources:
ATH Tracking: High (ATH detection)
ATL Tracking: Low (low detection)
Buy Signal Source: Low (buy signals)
Sell Signal Source: High (sell signals)
Filter Options:
Apply Gann Filter: False (disabled by default)
Buy Sets ATL: False (disabled by default)
Display Options:
Show Buy/Sell Signals: True
Show Reference Lines: True
Show Info Table: False
Show Bar Type: False
How It Works
Buy Signals: Trigger every 10% drop from the all-time highest price reached
Sell Signals: Trigger every 30% increase from the lowest low since the most recent all-time high
Smart Tracking: Uses configurable price sources for signal generation
Key Features
Configurable Thresholds: Adjustable buy/sell percentage thresholds (default: 10%/30%)
Separate Price Sources: Independent sources for ATH tracking, ATL tracking, and signal triggers
Configurable Signals: Uses low for buy signals and high for sell signals by default
Optional Gann Filter: Apply Gann bar analysis for additional signal filtering
Optional Buy Sets ATL: Option to set ATL reference point when buy signals occur
Visual Debug: Detailed labels showing signal parameters and values
Usage Instructions
Apply to Chart: Use on any timeframe (recommended: 1D or higher for better signal quality)
Risk Management: Adjust thresholds based on your risk tolerance and market volatility
Signal Analysis: Monitor debug labels for detailed signal information and validation
Signal Logic
Buy signals are blocked when ATH increases to prevent buying at peaks
Sell signals are blocked when ATL decreases to prevent selling at lows
This ensures signals only trigger on subsequent bars, not the same bar that establishes new reference points
Buy Signals:
Calculate drop percentage from ATH to buy signal source
Trigger when drop reaches threshold increments (10%, 20%, 30%, etc.)
Always blocked on ATH bars to prevent buying at peaks
Optional: Also blocked on up/outside bars when Gann filter enabled
Sell Signals:
Calculate gain percentage from lowest low to sell signal source
Trigger when gain reaches threshold increments (30%, 60%, 90%, etc.)
Always blocked when ATL decreases to prevent selling at lows
Optional: Also blocked on down bars when Gann filter enabled
Limitations
Designed for trending markets; may generate many signals in sideways/ranging markets
Requires sufficient price movement to be effective
Not suitable for scalping or very short timeframes
Implementation Notes
Signals use optimistic price sources (low for buys, high for sells), these can be configured to be more conservative
Gann filter provides additional signal filtering based on bar types
Debug information available in data window for real-time analysis
Detailed labels on each signal show ATH, lowest low, buy level, sell level, and drop/gain percentages
Cyclical Phases of the Market🧭 Overview
“Cyclical Phases of the Market” automatically detects major market cycles by connecting swing lows and measuring the average number of bars between them.
Once it learns the rhythm of past cycles, it projects the next expected cycle (in time and price) using a dashed orange line and a forecast label.
In simple terms:
The indicator shows where the next potential low is statistically expected to occur, based on the timing and depth of previous cycles.
⚙️ Core Logic – Step by Step
1️⃣ Pivot Detection
The script uses the built-in ta.pivotlow() and ta.pivothigh() functions to find local turning points:
pivotLow marks a local swing low, defined by pivotLeft and pivotRight bars on each side.
Only confirmed lows are used to define the major cycle points.
Each new pivot low is stored in two arrays:
cycleLows → price level of the low
cycleBars → bar index where the low occurred
2️⃣ Cycle Identification and Drawing
Every time two consecutive swing lows are found, the indicator:
Calculates the number of bars between them (cycle length).
If that distance is greater than or equal to minCycleBars, it draws a teal line connecting the two lows — visually representing one complete cycle.
These teal lines form the historical cycle structure of the market.
3️⃣ Average Cycle Length
Once there are at least three completed cycles, the script calculates the average duration (mean number of bars between lows).
This value — avgCycleLength — represents the dominant periodicity or cycle rhythm of the market.
4️⃣ Forecasting the Next Cycle
When a valid average cycle length exists, the model projects the next expected cycle:
Time projection:
Adds avgCycleLength to the last cycle’s ending bar index to find where the next low should occur.
Price projection:
Estimates the vertical amplitude by taking the difference between the last two cycle lows (priceDiff).
Adds this same difference to the last low price to forecast the next probable low level.
The result is drawn as an orange dashed line extending into the future, representing the Next Expected Cycle.
5️⃣ Forecast Label
An orange label 🔮 appears at the projected future point showing:
Text:
🔮 Upcoming Cycle Forecast
Price:
The label marks the probable area and timing of the next cyclical low.
(Note: the date/time calculation currently multiplies bar count by 7 days, so it’s designed mainly for daily charts. On other timeframes, that conversion can be adapted.)
📊 How to Read It on the Chart
Visual Element Meaning Interpretation
Teal lines Completed historical cycles (low to low) Show actual periodic rhythm of the market
Orange dashed line Projection of the next expected cycle Anticipated path toward the next cyclical low
Orange label 🔮 Upcoming Cycle Forecast Displays expected price and bar location
Average cycle length Internal variable (bars between lows) Represents the dominant cycle period
📈 Interpretation
When teal segments show consistent spacing, the market is following a stable rhythm → cycles are predictable.
When cycle spacing shortens, the market is accelerating (volatility rising).
When it widens, the market is slowing down or entering accumulation.
The orange dashed line represents the next expected low zone:
If the market drops near this line → cyclical pattern confirmed.
If the market breaks well below → cycle amplitude has increased (trend weakening).
If the market rises above and delays → a new longer cycle may be forming.
🧠 Practical Use
Combine with oscillators (e.g., RSI or TSI) to confirm momentum alignment near projected lows.
Use in conjunction with volume to identify accumulation or exhaustion near the expected turning point.
Compare across timeframes: weekly cycles confirm long-term rhythm; daily cycles refine short-term entries.
⚡ Summary
Aspect Description
Purpose Detect and forecast recurring market cycles
Cycle basis Low-to-Low pivot analysis
Visuals Teal historical cycles + Orange forecast line
Forecast Next expected low (price and time)
Ideal timeframe Daily
Main outputs Average cycle length, next projected cycle, visual cycle map
SMC Structures and FVGสวัสดีครับ! ผมจะอธิบายอินดิเคเตอร์ "SMC Structures and FVG + MACD" ที่คุณให้มาอย่างละเอียดในแต่ละส่วน เพื่อให้คุณเข้าใจการทำงานของมันอย่างถ่องแท้ครับ
อินดิเคเตอร์นี้เป็นการผสมผสานแนวคิดของ Smart Money Concept (SMC) ซึ่งเน้นการวิเคราะห์โครงสร้างตลาด (Market Structure) และ Fair Value Gap (FVG) เข้ากับอินดิเคเตอร์ MACD เพื่อใช้เป็นตัวกรองหรือตัวยืนยันสัญญาณ Choch/BoS (Change of Character / Break of Structure)
1. ภาพรวมอินดิเคเตอร์ (Overall Purpose)
อินดิเคเตอร์นี้มีจุดประสงค์หลักคือ:
ระบุโครงสร้างตลาด: ตีเส้นและป้ายกำกับ Choch (Change of Character) และ BoS (Break of Structure) บนกราฟโดยอัตโนมัติ
ผสานการยืนยันด้วย MACD: สัญญาณ Choch/BoS จะถูกพิจารณาก็ต่อเมื่อ MACD Histogram เกิดการตัดขึ้นหรือลง (Zero Cross) ในทิศทางที่สอดคล้องกัน
แสดง Fair Value Gap (FVG): หากเปิดใช้งาน จะมีการตีกล่อง FVG บนกราฟ
แสดงระดับ Fibonacci: คำนวณและแสดงระดับ Fibonacci ที่สำคัญตามโครงสร้างตลาดปัจจุบัน
ปรับตาม Timeframe: การคำนวณและการแสดงผลทั้งหมดจะปรับตาม Timeframe ที่คุณกำลังใช้งานอยู่โดยอัตโนมัติ
2. ส่วนประกอบหลักของโค้ด (Code Breakdown)
โค้ดนี้สามารถแบ่งออกเป็นส่วนหลัก ๆ ได้ดังนี้:
2.1 Inputs (การตั้งค่า)
ส่วนนี้คือตัวแปรที่คุณสามารถปรับแต่งได้ในหน้าต่างการตั้งค่าของอินดิเคเตอร์ (คลิกที่รูปฟันเฟืองข้างชื่ออินดิเคเตอร์บนกราฟ)
MACD Settings (ตั้งค่า MACD):
fast_len: ความยาวของ Fast EMA สำหรับ MACD (ค่าเริ่มต้น 12)
slow_len: ความยาวของ Slow EMA สำหรับ MACD (ค่าเริ่มต้น 26)
signal_len: ความยาวของ Signal Line สำหรับ MACD (ค่าเริ่มต้น 9)
= ta.macd(close, fast_len, slow_len, signal_len): คำนวณค่า MACD Line, Signal Line และ Histogram โดยใช้ราคาปิด (close) และค่าความยาวที่กำหนด
is_bullish_macd_cross: ตรวจสอบว่า MACD Histogram ตัดขึ้นเหนือเส้น 0 (จากค่าลบเป็นบวก)
is_bearish_macd_cross: ตรวจสอบว่า MACD Histogram ตัดลงใต้เส้น 0 (จากค่าบวกเป็นลบ)
Fear Value Gap (FVG) Settings:
isFvgToShow: (Boolean) เปิด/ปิดการแสดง FVG บนกราฟ
bullishFvgColor: สีสำหรับ Bullish FVG
bearishFvgColor: สีสำหรับ Bearish FVG
mitigatedFvgColor: สีสำหรับ FVG ที่ถูก Mitigate (ลดทอน) แล้ว
fvgHistoryNbr: จำนวน FVG ย้อนหลังที่จะแสดง
isMitigatedFvgToReduce: (Boolean) เปิด/ปิดการลดขนาด FVG เมื่อถูก Mitigate
Structures (โครงสร้างตลาด) Settings:
isStructBodyCandleBreak: (Boolean) หากเป็น true การ Break จะต้องเกิดขึ้นด้วย เนื้อเทียน ที่ปิดเหนือ/ใต้ Swing High/Low หากเป็น false แค่ไส้เทียนทะลุก็ถือว่า Break
isCurrentStructToShow: (Boolean) เปิด/ปิดการแสดงเส้นโครงสร้างตลาดปัจจุบัน (เส้นสีน้ำเงินในภาพตัวอย่าง)
pivot_len: ความยาวของแท่งเทียนที่ใช้ในการมองหาจุด Pivot (Swing High/Low) ยิ่งค่าน้อยยิ่งจับ Swing เล็กๆ ได้, ยิ่งค่ามากยิ่งจับ Swing ใหญ่ๆ ได้
bullishBosColor, bearishBosColor: สีสำหรับเส้นและป้าย BOS ขาขึ้น/ขาลง
bosLineStyleOption, bosLineWidth: สไตล์ (Solid, Dotted, Dashed) และความหนาของเส้น BOS
bullishChochColor, bearishChochColor: สีสำหรับเส้นและป้าย CHoCH ขาขึ้น/ขาลง
chochLineStyleOption, chochLineWidth: สไตล์ (Solid, Dotted, Dashed) และความหนาของเส้น CHoCH
currentStructColor, currentStructLineStyleOption, currentStructLineWidth: สี, สไตล์ และความหนาของเส้นโครงสร้างตลาดปัจจุบัน
structHistoryNbr: จำนวนการ Break (Choch/BoS) ย้อนหลังที่จะแสดง
Structure Fibonacci (จากโค้ดต้นฉบับ):
เป็นชุด Input สำหรับเปิด/ปิด, กำหนดค่า, สี, สไตล์ และความหนาของเส้น Fibonacci Levels ต่างๆ (0.786, 0.705, 0.618, 0.5, 0.382) ที่จะถูกคำนวณจากโครงสร้างตลาดปัจจุบัน
2.2 Helper Functions (ฟังก์ชันช่วยทำงาน)
getLineStyle(lineOption): ฟังก์ชันนี้ใช้แปลงค่า String ที่เลือกจาก Input (เช่น "─", "┈", "╌") ให้เป็นรูปแบบ line.style_ ที่ Pine Script เข้าใจ
get_structure_highest_bar(lookback): ฟังก์ชันนี้พยายามหา Bar Index ของแท่งเทียนที่ทำ Swing High ภายในช่วง lookback ที่กำหนด
get_structure_lowest_bar(lookback): ฟังก์ชันนี้พยายามหา Bar Index ของแท่งเทียนที่ทำ Swing Low ภายในช่วง lookback ที่กำหนด
is_structure_high_broken(...): ฟังก์ชันนี้ตรวจสอบว่าราคาปัจจุบันได้ Break เหนือ _structureHigh (Swing High) หรือไม่ โดยพิจารณาจาก _highStructBreakPrice (ราคาปิดหรือราคา High ขึ้นอยู่กับการตั้งค่า isStructBodyCandleBreak)
FVGDraw(...): ฟังก์ชันนี้รับ Arrays ของ FVG Boxes, Types, Mitigation Status และ Labels มาประมวลผล เพื่ออัปเดตสถานะของ FVG (เช่น ถูก Mitigate หรือไม่) และปรับขนาด/ตำแหน่งของ FVG Box และ Label บนกราฟ
2.3 Global Variables (ตัวแปรทั่วทั้งอินดิเคเตอร์)
เป็นตัวแปรที่ประกาศด้วย var ซึ่งหมายความว่าค่าของมันจะถูกเก็บไว้และอัปเดตในแต่ละแท่งเทียน (persists across bars)
structureLines, structureLabels: Arrays สำหรับเก็บอ็อบเจกต์ line และ label ของเส้น Choch/BoS ที่วาดบนกราฟ
fvgBoxes, fvgTypes, fvgLabels, isFvgMitigated: Arrays สำหรับเก็บข้อมูลของ FVG Boxes และสถานะต่างๆ
structureHigh, structureLow: เก็บราคาของ Swing High/Low ที่สำคัญของโครงสร้างตลาดปัจจุบัน
structureHighStartIndex, structureLowStartIndex: เก็บ Bar Index ของจุดเริ่มต้นของ Swing High/Low ที่สำคัญ
structureDirection: เก็บสถานะของทิศทางโครงสร้างตลาด (1 = Bullish, 2 = Bearish, 0 = Undefined)
fiboXPrice, fiboXStartIndex, fiboXLine, fiboXLabel: ตัวแปรสำหรับเก็บข้อมูลและอ็อบเจกต์ของเส้น Fibonacci Levels
isBOSAlert, isCHOCHAlert: (Boolean) ใช้สำหรับส่งสัญญาณ Alert (หากมีการตั้งค่า Alert ไว้)
2.4 FVG Processing (การประมวลผล FVG)
ส่วนนี้จะตรวจสอบเงื่อนไขการเกิด FVG (Bullish FVG: high < low , Bearish FVG: low > high )
หากเกิด FVG และ isFvgToShow เป็น true จะมีการสร้าง box และ label ใหม่เพื่อแสดง FVG บนกราฟ
มีการจัดการ fvgBoxes และ fvgLabels เพื่อจำกัดจำนวน FVG ที่แสดงตาม fvgHistoryNbr และลบ FVG เก่าออก
ฟังก์ชัน FVGDraw จะถูกเรียกเพื่ออัปเดตสถานะของ FVG (เช่น การถูก Mitigate) และปรับการแสดงผล
2.5 Structures Processing (การประมวลผลโครงสร้างตลาด)
Initialization: ที่ bar_index == 0 (แท่งเทียนแรกของกราฟ) จะมีการกำหนดค่าเริ่มต้นให้กับ structureHigh, structureLow, structureHighStartIndex, structureLowStartIndex
Finding Current High/Low: highest, highestBar, lowest, lowestBar ถูกใช้เพื่อหา High/Low ที่สุดและ Bar Index ของมันใน 10 แท่งล่าสุด (หรือทั้งหมดหากกราฟสั้นกว่า 10 แท่ง)
Calculating Structure Max/Min Bar: structureMaxBar และ structureMinBar ใช้ฟังก์ชัน get_structure_highest_bar และ get_structure_lowest_bar เพื่อหา Bar Index ของ Swing High/Low ที่แท้จริง (ไม่ใช่แค่ High/Low ที่สุดใน lookback แต่เป็นจุด Pivot ที่สมบูรณ์)
Break Price: lowStructBreakPrice และ highStructBreakPrice จะเป็นราคาปิด (close) หรือราคา Low/High ขึ้นอยู่กับ isStructBodyCandleBreak
isStuctureLowBroken / isStructureHighBroken: เงื่อนไขเหล่านี้ตรวจสอบว่าราคาได้ทำลาย structureLow หรือ structureHigh หรือไม่ โดยพิจารณาจากราคา Break, ราคาแท่งก่อนหน้า และ Bar Index ของจุดเริ่มต้นโครงสร้าง
Choch/BoS Logic (ส่วนสำคัญที่ถูกผสานกับ MACD):
if(isStuctureLowBroken and is_bearish_macd_cross): นี่คือจุดที่ MACD เข้ามามีบทบาท หากราคาทำลาย structureLow (สัญญาณขาลง) และ MACD Histogram เกิด Bearish Zero Cross (is_bearish_macd_cross เป็น true) อินดิเคเตอร์จะพิจารณาว่าเป็น Choch หรือ BoS
หาก structureDirection == 1 (เดิมเป็นขาขึ้น) หรือ 0 (ยังไม่กำหนด) จะตีเป็น "CHoCH" (เปลี่ยนทิศทางโครงสร้างเป็นขาลง)
หาก structureDirection == 2 (เดิมเป็นขาลง) จะตีเป็น "BOS" (ยืนยันโครงสร้างขาลง)
มีการสร้าง line.new และ label.new เพื่อวาดเส้นและป้ายกำกับ
structureDirection จะถูกอัปเดตเป็น 1 (Bullish)
structureHighStartIndex, structureLowStartIndex, structureHigh, structureLow จะถูกอัปเดตเพื่อกำหนดโครงสร้างใหม่
else if(isStructureHighBroken and is_bullish_macd_cross): เช่นกันสำหรับขาขึ้น หากราคาทำลาย structureHigh (สัญญาณขาขึ้น) และ MACD Histogram เกิด Bullish Zero Cross (is_bullish_macd_cross เป็น true) อินดิเคเตอร์จะพิจารณาว่าเป็น Choch หรือ BoS
หาก structureDirection == 2 (เดิมเป็นขาลง) หรือ 0 (ยังไม่กำหนด) จะตีเป็น "CHoCH" (เปลี่ยนทิศทางโครงสร้างเป็นขาขึ้น)
หาก structureDirection == 1 (เดิมเป็นขาขึ้น) จะตีเป็น "BOS" (ยืนยันโครงสร้างขาขึ้น)
มีการสร้าง line.new และ label.new เพื่อวาดเส้นและป้ายกำกับ
structureDirection จะถูกอัปเดตเป็น 2 (Bearish)
structureHighStartIndex, structureLowStartIndex, structureHigh, structureLow จะถูกอัปเดตเพื่อกำหนดโครงสร้างใหม่
การลบเส้นเก่า: d.delete_line (หากไลบรารีทำงาน) จะถูกเรียกเพื่อลบเส้นและป้ายกำกับเก่าออกเมื่อจำนวนเกิน structHistoryNbr
Updating Structure High/Low (else block): หากไม่มีการ Break เกิดขึ้น แต่ราคาปัจจุบันสูงกว่า structureHigh หรือต่ำกว่า structureLow ในทิศทางที่สอดคล้องกัน (เช่น ยังคงเป็นขาขึ้นและทำ High ใหม่) structureHigh หรือ structureLow จะถูกอัปเดตเพื่อติดตาม High/Low ที่สุดของโครงสร้างปัจจุบัน
Current Structure Display:
หาก isCurrentStructToShow เป็น true อินดิเคเตอร์จะวาดเส้น structureHighLine และ structureLowLine เพื่อแสดงขอบเขตของโครงสร้างตลาดปัจจุบัน
Fibonacci Display:
หาก isFiboXToShow เป็น true อินดิเคเตอร์จะคำนวณและวาดเส้น Fibonacci Levels ต่างๆ (0.786, 0.705, 0.618, 0.5, 0.382) โดยอิงจาก structureHigh และ structureLow ของโครงสร้างตลาดปัจจุบัน
Alerts:
alertcondition: ใช้สำหรับตั้งค่า Alert ใน TradingView เมื่อเกิดสัญญาณ BOS หรือ CHOCH
plot(na):
plot(na) เป็นคำสั่งที่สำคัญในอินดิเคเตอร์ที่ไม่ได้ต้องการพล็อต Series ของข้อมูลบนกราฟ (เช่น ไม่ได้พล็อตเส้น EMA หรือ RSI) แต่ใช้วาดอ็อบเจกต์ (Line, Label, Box) โดยตรง
การมี plot(na) ช่วยให้ Pine Script รู้ว่าอินดิเคเตอร์นี้มีเอาต์พุตที่แสดงผลบนกราฟ แม้ว่าจะไม่ได้เป็น Series ที่พล็อตตามปกติก็ตาม
3. วิธีใช้งาน
คัดลอกโค้ดทั้งหมด ที่อยู่ในบล็อก immersive ด้านบน
ไปที่ TradingView และเปิดกราฟที่คุณต้องการ
คลิกที่เมนู "Pine Editor" ที่อยู่ด้านล่างของหน้าจอ
ลบโค้ดเดิมที่มีอยู่ และ วางโค้ดที่คัดลอกมา ลงไปแทน
คลิกที่ปุ่ม "Add to Chart"
อินดิเคเตอร์จะถูกเพิ่มลงในกราฟของคุณโดยอัตโนมัติ คุณสามารถคลิกที่รูปฟันเฟืองข้างชื่ออินดิเคเตอร์บนกราฟเพื่อเข้าถึงหน้าต่างการตั้งค่าและปรับแต่งตามความต้องการของคุณได้
Hello! I will explain the "SMC Structures and FVG + MACD" indicator you provided in detail, section by section, so you can fully understand how it works.This indicator combines the concepts of Smart Money Concept (SMC), which focuses on analyzing Market Structure and Fair Value Gaps (FVG), with the MACD indicator to serve as a filter or confirmation for Choch (Change of Character) and BoS (Break of Structure) signals.1. Overall PurposeThe main purposes of this indicator are:Identify Market Structure: Automatically draw lines and label Choch (Change of Character) and BoS (Break of Structure) on the chart.Integrate MACD Confirmation: Choch/BoS signals will only be considered when the MACD Histogram performs a cross (Zero Cross) in the corresponding direction.Display Fair Value Gap (FVG): If enabled, FVG boxes will be drawn on the chart.Display Fibonacci Levels: Calculate and display important Fibonacci levels based on the current market structure.Adapt to Timeframe: All calculations and displays will automatically adjust to the timeframe you are currently using.2. Code BreakdownThis code can be divided into the following main sections:2.1 Inputs (Settings)This section contains variables that you can adjust in the indicator's settings window (click the gear icon next to the indicator's name on the chart).MACD Settings:fast_len: Length of the Fast EMA for MACD (default 12)slow_len: Length of the Slow EMA for MACD (default 26)signal_len: Length of the Signal Line for MACD (default 9) = ta.macd(close, fast_len, slow_len, signal_len): Calculates the MACD Line, Signal Line, and Histogram using the closing price (close) and the specified lengths.is_bullish_macd_cross: Checks if the MACD Histogram crosses above the 0 line (from negative to positive).is_bearish_macd_cross: Checks if the MACD Histogram crosses below the 0 line (from positive to negative).Fear Value Gap (FVG) Settings:isFvgToShow: (Boolean) Enables/disables the display of FVG on the chart.bullishFvgColor: Color for Bullish FVG.bearishFvgColor: Color for Bearish FVG.mitigatedFvgColor: Color for FVG that has been mitigated.fvgHistoryNbr: Number of historical FVG to display.isMitigatedFvgToReduce: (Boolean) Enables/disables reducing the size of FVG when mitigated.Structures (โครงสร้างตลาด) Settings:isStructBodyCandleBreak: (Boolean) If true, the break must occur with the candle body closing above/below the Swing High/Low. If false, a wick break is sufficient.isCurrentStructToShow: (Boolean) Enables/disables the display of the current market structure lines (blue lines in the example image).pivot_len: Lookback length for identifying Pivot points (Swing High/Low). A smaller value captures smaller, more frequent swings; a larger value captures larger, more significant swings.bullishBosColor, bearishBosColor: Colors for bullish/bearish BOS lines and labels.bosLineStyleOption, bosLineWidth: Style (Solid, Dotted, Dashed) and width of BOS lines.bullishChochColor, bearishChochColor: Colors for bullish/bearish CHoCH lines and labels.chochLineStyleOption, chochLineWidth: Style (Solid, Dotted, Dashed) and width of CHoCH lines.currentStructColor, currentStructLineStyleOption, currentStructLineWidth: Color, style, and width of the current market structure lines.structHistoryNbr: Number of historical breaks (Choch/BoS) to display.Structure Fibonacci (from original code):A set of inputs to enable/disable, define values, colors, styles, and widths for various Fibonacci Levels (0.786, 0.705, 0.618, 0.5, 0.382) that will be calculated from the current market structure.2.2 Helper FunctionsgetLineStyle(lineOption): This function converts the selected string input (e.g., "─", "┈", "╌") into a line.style_ format understood by Pine Script.get_structure_highest_bar(lookback): This function attempts to find the Bar Index of the Swing High within the specified lookback period.get_structure_lowest_bar(lookback): This function attempts to find the Bar Index of the Swing Low within the specified lookback period.is_structure_high_broken(...): This function checks if the current price has broken above _structureHigh (Swing High), considering _highStructBreakPrice (closing price or high price depending on isStructBodyCandleBreak setting).FVGDraw(...): This function takes arrays of FVG Boxes, Types, Mitigation Status, and Labels to process and update the status of FVG (e.g., whether it's mitigated) and adjust the size/position of FVG Boxes and Labels on the chart.2.3 Global VariablesThese are variables declared with var, meaning their values are stored and updated on each bar (persists across bars).structureLines, structureLabels: Arrays to store line and label objects for Choch/BoS lines drawn on the chart.fvgBoxes, fvgTypes, fvgLabels, isFvgMitigated: Arrays to store FVG box data and their respective statuses.structureHigh, structureLow: Stores the price of the significant Swing High/Low of the current market structure.structureHighStartIndex, structureLowStartIndex: Stores the Bar Index of the start point of the significant Swing High/Low.structureDirection: Stores the status of the market structure direction (1 = Bullish, 2 = Bearish, 0 = Undefined).fiboXPrice, fiboXStartIndex, fiboXLine, fiboXLabel: Variables to store data and objects for Fibonacci Levels.isBOSAlert, isCHOCHAlert: (Boolean) Used to trigger alerts in TradingView (if alerts are configured).2.4 FVG ProcessingThis section checks the conditions for FVG formation (Bullish FVG: high < low , Bearish FVG: low > high ).If FVG occurs and isFvgToShow is true, a new box and label are created to display the FVG on the chart.fvgBoxes and fvgLabels are managed to limit the number of FVG displayed according to fvgHistoryNbr and remove older FVG.The FVGDraw function is called to update the FVG status (e.g., whether it's mitigated) and adjust its display.2.5 Structures ProcessingInitialization: At bar_index == 0 (the first bar of the chart), structureHigh, structureLow, structureHighStartIndex, and structureLowStartIndex are initialized.Finding Current High/Low: highest, highestBar, lowest, lowestBar are used to find the highest/lowest price and its Bar Index of it in the last 10 bars (or all bars if the chart is shorter than 10 bars).Calculating Structure Max/Min Bar: structureMaxBar and structureMinBar use get_structure_highest_bar and get_structure_lowest_bar functions to find the Bar Index of the true Swing High/Low (not just the highest/lowest in the lookback but a complete Pivot point).Break Price: lowStructBreakPrice and highStructBreakPrice will be the closing price (close) or the Low/High price, depending on the isStructBodyCandleBreak setting.isStuctureLowBroken / isStructureHighBroken: These conditions check if the price has broken structureLow or structureHigh, considering the break price, previous bar prices, and the Bar Index of the structure's starting point.Choch/BoS Logic (Key Integration with MACD):if(isStuctureLowBroken and is_bearish_macd_cross): This is where MACD plays a role. If the price breaks structureLow (bearish signal) AND the MACD Histogram performs a Bearish Zero Cross (is_bearish_macd_cross is true), the indicator will consider it a Choch or BoS.If structureDirection == 1 (previously bullish) or 0 (undefined), it will be labeled "CHoCH" (changing structure direction to bearish).If structureDirection == 2 (already bearish), it will be labeled "BOS" (confirming bearish structure).line.new and label.new are used to draw the line and label.structureDirection will be updated to 1 (Bullish).structureHighStartIndex, structureLowStartIndex, structureHigh, structureLow will be updated to define the new structure.else if(isStructureHighBroken and is_bullish_macd_cross): Similarly for bullish breaks. If the price breaks structureHigh (bullish signal) AND the MACD Histogram performs a Bullish Zero Cross (is_bullish_macd_cross is true), the indicator will consider it a Choch or BoS.If structureDirection == 2 (previously bearish) or 0 (undefined), it will be labeled "CHoCH" (changing structure direction to bullish).If structureDirection == 1 (already bullish), it will be labeled "BOS" (confirming bullish structure).line.new and label.new are used to draw the line and label.structureDirection will be updated to 2 (Bearish).structureHighStartIndex, structureLowStartIndex, structureHigh, structureLow will be updated to define the new structure.Deleting Old Lines: d.delete_line (if the library works) will be called to delete old lines and labels when their number exceeds structHistoryNbr.Updating Structure High/Low (else block): If no break occurs, but the current price is higher than structureHigh or lower than structureLow in the corresponding direction (e.g., still bullish and making a new high), structureHigh or structureLow will be updated to track the highest/lowest point of the current structure.Current Structure Display:If isCurrentStructToShow is true, the indicator draws structureHighLine and structureLowLine to show the boundaries of the current market structure.Fibonacci Display:If isFiboXToShow is true, the indicator calculates and draws various Fibonacci Levels (0.786, 0.705, 0.618, 0.5, 0.382) based on the structureHigh and structureLow of the current market structure.Alerts:alertcondition: Used to set up alerts in TradingView when BOS or CHOCH signals occur.plot(na):plot(na) is an important statement in indicators that do not plot data series directly on the chart (e.g., not plotting EMA or RSI lines) but instead draw objects (Line, Label, Box).Having plot(na) helps Pine Script recognize that this indicator has an output displayed on the chart, even if it's not a regularly plotted series.3. How to UseCopy all the code in the immersive block above.Go to TradingView and open your desired chart.Click on the "Pine Editor" menu at the bottom of the screen.Delete any existing code and paste the copied code in its place.Click the "Add to Chart" button.The indicator will be added to your chart automatically. You can click the gear icon next to the indicator's name on the chart to access the settings window and customize it to your needs.I hope this explanation helps you understand this indicator in detail. If anything is unclear, or you need further adjustments, please let me know.
Fibonacci Retracement levels Automatically D/W/MIndicator Description: Fibonacci Retracement levels Automatically
Fibonacci retracement levels based on the day, week, month High Low range and Fibonacci retracement levels draws automatically .This Pine Script indicator is designed to plot Fibonacci retracement levels based on the high and low prices of a user-selected timeframe (Daily, Weekly, or Monthly). It identifies bullish or bearish candles in the chosen timeframe, draws key price levels, and overlays Fibonacci retracement lines and semi-transparent colored boxes to highlight potential support and resistance zones. The indicator dynamically updates with each new period and extends lines, labels, and boxes to the current bar for real-time visualization. Key Features
1. Timeframe Selection: Users can choose the timeframe for analysis: Daily, Weekly, or Monthly via an input dropdown. The indicator retrieves the open, high, low, and close prices for the selected timeframe using `request.security`.
2. High and Low Tracking : Tracks the highest high and lowest low within the selected timeframe. Stores these values and their corresponding bar indices in arrays (`whigh`, `wlow`, `whighIdx`,`wlowIdx`). Limits the array size to the most recent period to optimize performance.
3. Bullish and Bearish Candle Detection : Identifies whether the previous period’s candle is bullish (`close > open`) or bearish (`close < open`). Uses this to determine the direction for Fibonacci retracement calculations. Bullish candle: Fibonacci levels are drawn from low to high
Bearish candle: Fibonacci levels are drawn from high to low
4. Fibonacci Retracement Levels : Plots Fibonacci levels at 0.236, 0.382, 0.5, 0.618, and 0.786 between the high and low of the period. For bullish candles, levels are calculated from the low (support) to the high (resistance). For bearish candles, levels are calculated from the high (resistance) to the low (support). Each Fibonacci level is drawn as a horizontal line with a unique color:
- 0.236: Blue
- 0.382: Purple
- 0.5: Yellow
- 0.618: Teal
- 0.786: Fuchsia
5. Visual Elements: - High/Low Lines and Labels: Draws a red line and label for the previous period’s high. Draws a green line and label for the previous period’s low. Fibonacci Lines and Labels: Each Fibonacci level has a horizontal line and a label displaying the ratio.
Colored Boxes: Semi-transparent boxes are drawn between consecutive Fibonacci levels (including high and low) to highlight zones.
6. Dynamic Updates:
- At the start of a new period (e.g., new week for Weekly timeframe), the indicator:
- Clears previous Fibonacci lines, labels, and boxes.
- Recalculates the high and low for the new period.
- Redraws lines, labels, and boxes based on the new data.
- Extends all lines, labels, and boxes to the current bar index for real-time tracking.
7. Performance Optimization:
- Deletes old lines, labels, and boxes to prevent clutter.
- Limits the storage of highs and lows to the most recent period.
How It Works
1. Initialization: Defines variables for tracking bullish/bearish candles, lines, labels, and arrays for Fibonacci levels and boxes. Sets up color arrays for Fibonacci lines and boxes with distinct, semi-transparent colors.
2. Data Collection: Fetches the previous period’s OHLC (open, high, low, close) using `request.security`. Detects new periods (e.g., new week or month) using `ta.change(time(tf))`.
3. Fibonacci Calculation: On a new period, stores the high and low prices and their bar indices.
- Identifies the maximum high and minimum low from the stored data. - Calculates Fibonacci levels based on the range (`maxHigh - minLow`) and the direction (bullish or bearish).
4. Drawing:
- Draws high/low lines and labels at the identified price levels. Plots Fibonacci retracement lines and labels for each ratio. Creates semi-transparent boxes between Fibonacci levels to visually distinguish zones.
5. Updates:
- Extends all lines, labels, and boxes to the current bar index when a new period is detected. Clears old Fibonacci elements to avoid overlap and ensure clarity.
Usage
- Purpose: This indicator is useful for traders who use Fibonacci retracement levels to identify potential support and resistance zones in financial markets.
- Application:
- Select the desired timeframe (Daily, Weekly, Monthly) via the input settings.
- The indicator automatically plots the previous period’s high/low and Fibonacci levels on the chart.
- Use the labeled Fibonacci levels and colored boxes to identify key price zones for trading decisions.
- Customization:
- Modify the `timeframe` input to switch between Daily, Weekly, or Monthly analysis.
- Adjust the `fibLineColors` and `fibFillColors` arrays to change the visual appearance of lines and boxes.
- The indicator is designed for use on TradingView with Pine Script.
- The maximum array size for highs/lows is limited to 1 period in this version (can be adjusted by modifying the `array.shift` logic).
- The indicator dynamically updates with each new period, ensuring real-time relevance.
This indicator make educational purpose use only
GEEKSDOBYTE IFVG w/ Buy/Sell Signals1. Inputs & Configuration
Swing Lookback (swingLen)
Controls how many bars on each side are checked to mark a swing high or swing low (default = 5).
Booleans to Toggle Plotting
showSwings – Show small triangle markers at swing highs/lows
showFVG – Show Fair Value Gap zones
showSignals – Show “BUY”/“SELL” labels when price inverts an FVG
showDDLine – Show a yellow “DD” line at the close of the inversion bar
showCE – Show an orange dashed “CE” line at the midpoint of the gap area
2. Swing High / Low Detection
isSwingHigh = ta.pivothigh(high, swingLen, swingLen)
Marks a bar as a swing high if its high is higher than the highs of the previous swingLen bars and the next swingLen bars.
isSwingLow = ta.pivotlow(low, swingLen, swingLen)
Marks a bar as a swing low if its low is lower than the lows of the previous and next swingLen bars.
Plotting
If showSwings is true, small red downward triangles appear above swing highs, and green upward triangles below swing lows.
3. Fair Value Gap (3‐Bar) Identification
A Fair Value Gap (FVG) is defined here using a simple three‐bar logic (sometimes called an “inefficiency” in price):
Bullish FVG (bullFVG)
Checks if, two bars ago, the low of that bar (low ) is strictly greater than the current bar’s high (high).
In other words:
bullFVG = low > high
Bearish FVG (bearFVG)
Checks if, two bars ago, the high of that bar (high ) is strictly less than the current bar’s low (low).
In other words:
bearFVG = high < low
When either condition is true, it identifies a three‐bar “gap” or unfilled imbalance in the market.
4. Drawing FVG Zones
If showFVG is enabled, each time a bullish or bearish FVG is detected:
Bullish FVG Zone
Draws a semi‐transparent green box from the bar two bars ago (where the gap began) at low up to the current bar’s high.
Bearish FVG Zone
Draws a semi‐transparent red box from the bar two bars ago at high down to the current bar’s low.
These colored boxes visually highlight the “fair value imbalance” area on the chart.
5. Inversion (Fill) Detection & Entry Signals
An inversion is defined as the price “closing through” that previously drawn FVG:
Bullish Inversion (bullInversion)
Occurs when a bullish FVG was identified on bar-2 (bullFVG), and on the current bar the close is greater than that old bar-2 low:
bullInversion = bullFVG and close > low
Bearish Inversion (bearInversion)
Occurs when a bearish FVG was identified on bar-2 (bearFVG), and on the current bar the close is lower than that old bar-2 high:
bearInversion = bearFVG and close < high
When an inversion is true, the indicator optionally draws two lines and a label (depending on input toggles):
Draw “DD” Line (yellow, solid)
Plots a horizontal yellow line from the current bar’s close price extending five bars forward (bar_index + 5). This is often referred to as a “Demand/Daily Demand” line, marking where price inverted the gap.
Draw “CE” Line (orange, dashed)
Calculates the midpoint (ce) of the original FVG zone.
For a bullish inversion:
ce = (low + high) / 2
For a bearish inversion:
ce = (high + low) / 2
Plots a horizontal dashed orange line at that midpoint for five bars forward.
Plot Label (“BUY” / “SELL”)
If showSignals is true, a green “BUY” label is placed at the low of the current bar when a bullish inversion occurs.
Likewise, a red “SELL” label at the high of the current bar when a bearish inversion happens.
6. Putting It All Together
Swing Markers (Optional):
Visually confirm recent swing highs and swing lows with small triangles.
FVG Zones (Optional):
Highlight areas where price left a 3-bar gap (bullish in green, bearish in red).
Inversion Confirmation:
Wait for price to close beyond the old FVG boundary.
Once that happens, draw the yellow “DD” line at the close, the orange dashed “CE” line at the zone’s midpoint, and place a “BUY” or “SELL” label exactly on that bar.
User Controls:
All of the above elements can be individually toggled on/off (showSwings, showFVG, showSignals, showDDLine, showCE).
In Practice
A bullish FVG forms whenever a strong drop leaves a gap in liquidity (three bars ago low > current high).
When price later “fills” that gap by closing above the old low, the script signals a potential long entry (BUY), draws a demand line at the closing price, and marks the midpoint of that gap.
Conversely, a bearish FVG marks a potential short zone (three bars ago high < current low). When price closes below that gap’s high, it signals a SELL, with similar lines drawn.
By combining these elements, the indicator helps users visually identify inefficiencies (FVGs), confirm when price inverts/fills them, and place straightforward buy/sell labels alongside reference lines for trade management.
FvgCalculations█ OVERVIEW
This library provides the core calculation engine for identifying Fair Value Gaps (FVGs) across different timeframes and for processing their interaction with price. It includes functions to detect FVGs on both the current chart and higher timeframes, as well as to check for their full or partial mitigation.
█ CONCEPTS
The library's primary functions revolve around the concept of Fair Value Gaps and their lifecycle.
Fair Value Gap (FVG) Identification
An FVG, or imbalance, represents a price range where buying or selling pressure was significant enough to cause a rapid price movement, leaving an "inefficiency" in the market. This library identifies FVGs based on three-bar patterns:
Bullish FVG: Forms when the low of the current bar (bar 3) is higher than the high of the bar two periods prior (bar 1). The FVG is the space between the high of bar 1 and the low of bar 3.
Bearish FVG: Forms when the high of the current bar (bar 3) is lower than the low of the bar two periods prior (bar 1). The FVG is the space between the low of bar 1 and the high of bar 3.
The library provides distinct functions for detecting FVGs on the current (Low Timeframe - LTF) and specified higher timeframes (Medium Timeframe - MTF / High Timeframe - HTF).
FVG Mitigation
Mitigation refers to price revisiting an FVG.
Full Mitigation: An FVG is considered fully mitigated when price completely closes the gap. For a bullish FVG, this occurs if the current low price moves below or touches the FVG's bottom. For a bearish FVG, it occurs if the current high price moves above or touches the FVG's top.
Partial Mitigation (Entry/Fill): An FVG is partially mitigated when price enters the FVG's range but does not fully close it. The library tracks the extent of this fill. For a bullish FVG, if the current low price enters the FVG from above, that low becomes the new effective top of the remaining FVG. For a bearish FVG, if the current high price enters the FVG from below, that high becomes the new effective bottom of the remaining FVG.
FVG Interaction
This refers to any instance where the current bar's price range (high to low) touches or crosses into the currently unfilled portion of an active (visible and not fully mitigated) FVG.
Multi-Timeframe Data Acquisition
To detect FVGs on higher timeframes, specific historical bar data (high, low, and time of bars at indices and relative to the higher timeframe's last completed bar) is required. The requestMultiTFBarData function is designed to fetch this data efficiently.
█ CALCULATIONS AND USE
The functions in this library are typically used in a sequence to manage FVGs:
1. Data Retrieval (for MTF/HTF FVGs):
Call requestMultiTFBarData() with the desired higher timeframe string (e.g., "60", "D").
This returns a tuple of htfHigh1, htfLow1, htfTime1, htfHigh3, htfLow3, htfTime3.
2. FVG Detection:
For LTF FVGs: Call detectFvg() on each confirmed bar. It uses high , low, low , and high along with barstate.isconfirmed.
For MTF/HTF FVGs: Call detectMultiTFFvg() using the data obtained from requestMultiTFBarData().
Both detection functions return an fvgObject (defined in FvgTypes) if an FVG is found, otherwise na. They also can classify FVGs as "Large Volume" (LV) if classifyLV is true and the FVG size (top - bottom) relative to the tfAtr (Average True Range of the respective timeframe) meets the lvAtrMultiplier.
3. FVG State Updates (on each new bar for existing FVGs):
First, check for overall price interaction using fvgInteractionCheck(). This function determines if the current bar's high/low has touched or entered the FVG's currentTop or currentBottom.
If interaction occurs and the FVG is not already mitigated:
Call checkMitigation() to determine if the FVG has been fully mitigated by the current bar's currentHigh and currentLow. If true, the FVG's isMitigated status is updated.
If not fully mitigated, call checkPartialMitigation() to see if the price has further entered the FVG. This function returns the newLevel to which the FVG has been filled (e.g., currentLow for a bullish FVG, currentHigh for bearish). This newLevel is then used to update the FVG's currentTop or currentBottom.
The calling script (e.g., fvgMain.c) is responsible for storing and managing the array of fvgObject instances and passing them to these update functions.
█ NOTES
Bar State for LTF Detection: The detectFvg() function relies on barstate.isconfirmed to ensure FVG detection is based on closed bars, preventing FVGs from being detected prematurely on the currently forming bar.
Higher Timeframe Data (lookahead): The requestMultiTFBarData() function uses lookahead = barmerge.lookahead_on. This means it can access historical data from the higher timeframe that corresponds to the current bar on the chart, even if the higher timeframe bar has not officially closed. This is standard for multi-timeframe analysis aiming to plot historical HTF data accurately on a lower timeframe chart.
Parameter Typing: Functions like detectMultiTFFvg and detectFvg infer the type for boolean (classifyLV) and numeric (lvAtrMultiplier) parameters passed from the main script, while explicitly typed series parameters (like htfHigh1, currentAtr) expect series data.
fvgObject Dependency: The FVG detection functions return fvgObject instances, and fvgInteractionCheck takes an fvgObject as a parameter. This UDT is defined in the FvgTypes library, making it a dependency for using FvgCalculations.
ATR for LV Classification: The tfAtr (for MTF/HTF) and currentAtr (for LTF) parameters are expected to be the Average True Range values for the respective timeframes. These are used, if classifyLV is enabled, to determine if an FVG's size qualifies it as a "Large Volume" FVG based on the lvAtrMultiplier.
MTF/HTF FVG Appearance Timing: When displaying FVGs from a higher timeframe (MTF/HTF) on a lower timeframe (LTF) chart, users might observe that the most recent MTF/HTF FVG appears one LTF bar later compared to its appearance on a native MTF/HTF chart. This is an expected behavior due to the detection mechanism in `detectMultiTFFvg`. This function uses historical bar data from the MTF/HTF (specifically, data equivalent to `HTF_bar ` and `HTF_bar `) to identify an FVG. Therefore, all three bars forming the FVG on the MTF/HTF must be fully closed and have shifted into these historical index positions relative to the `request.security` call from the LTF chart before the FVG can be detected and displayed on the LTF. This ensures that the MTF/HTF FVG is identified based on confirmed, closed bars from the higher timeframe.
█ EXPORTED FUNCTIONS
requestMultiTFBarData(timeframe)
Requests historical bar data for specific previous bars from a specified higher timeframe.
It fetches H , L , T (for the bar before last) and H , L , T (for the bar three periods prior)
from the requested timeframe.
This is typically used to identify FVG patterns on MTF/HTF.
Parameters:
timeframe (simple string) : The higher timeframe to request data from (e.g., "60" for 1-hour, "D" for Daily).
Returns: A tuple containing: .
- htfHigh1 (series float): High of the bar at index 1 (one bar before the last completed bar on timeframe).
- htfLow1 (series float): Low of the bar at index 1.
- htfTime1 (series int) : Time of the bar at index 1.
- htfHigh3 (series float): High of the bar at index 3 (three bars before the last completed bar on timeframe).
- htfLow3 (series float): Low of the bar at index 3.
- htfTime3 (series int) : Time of the bar at index 3.
detectMultiTFFvg(htfHigh1, htfLow1, htfTime1, htfHigh3, htfLow3, htfTime3, tfAtr, classifyLV, lvAtrMultiplier, tfType)
Detects a Fair Value Gap (FVG) on a higher timeframe (MTF/HTF) using pre-fetched bar data.
Parameters:
htfHigh1 (float) : High of the first relevant bar (typically high ) from the higher timeframe.
htfLow1 (float) : Low of the first relevant bar (typically low ) from the higher timeframe.
htfTime1 (int) : Time of the first relevant bar (typically time ) from the higher timeframe.
htfHigh3 (float) : High of the third relevant bar (typically high ) from the higher timeframe.
htfLow3 (float) : Low of the third relevant bar (typically low ) from the higher timeframe.
htfTime3 (int) : Time of the third relevant bar (typically time ) from the higher timeframe.
tfAtr (float) : ATR value for the higher timeframe, used for Large Volume (LV) FVG classification.
classifyLV (bool) : If true, FVGs will be assessed to see if they qualify as Large Volume.
lvAtrMultiplier (float) : The ATR multiplier used to define if an FVG is Large Volume.
tfType (series tfType enum from no1x/FvgTypes/1) : The timeframe type (e.g., types.tfType.MTF, types.tfType.HTF) of the FVG being detected.
Returns: An fvgObject instance if an FVG is detected, otherwise na.
detectFvg(classifyLV, lvAtrMultiplier, currentAtr)
Detects a Fair Value Gap (FVG) on the current (LTF - Low Timeframe) chart.
Parameters:
classifyLV (bool) : If true, FVGs will be assessed to see if they qualify as Large Volume.
lvAtrMultiplier (float) : The ATR multiplier used to define if an FVG is Large Volume.
currentAtr (float) : ATR value for the current timeframe, used for LV FVG classification.
Returns: An fvgObject instance if an FVG is detected, otherwise na.
checkMitigation(isBullish, fvgTop, fvgBottom, currentHigh, currentLow)
Checks if an FVG has been fully mitigated by the current bar's price action.
Parameters:
isBullish (bool) : True if the FVG being checked is bullish, false if bearish.
fvgTop (float) : The top price level of the FVG.
fvgBottom (float) : The bottom price level of the FVG.
currentHigh (float) : The high price of the current bar.
currentLow (float) : The low price of the current bar.
Returns: True if the FVG is considered fully mitigated, false otherwise.
checkPartialMitigation(isBullish, currentBoxTop, currentBoxBottom, currentHigh, currentLow)
Checks for partial mitigation of an FVG by the current bar's price action.
It determines if the price has entered the FVG and returns the new fill level.
Parameters:
isBullish (bool) : True if the FVG being checked is bullish, false if bearish.
currentBoxTop (float) : The current top of the FVG box (this might have been adjusted by previous partial fills).
currentBoxBottom (float) : The current bottom of the FVG box (similarly, might be adjusted).
currentHigh (float) : The high price of the current bar.
currentLow (float) : The low price of the current bar.
Returns: The new price level to which the FVG has been filled (e.g., currentLow for a bullish FVG).
Returns na if no new partial fill occurred on this bar.
fvgInteractionCheck(fvg, highVal, lowVal)
Checks if the current bar's price interacts with the given FVG.
Interaction means the price touches or crosses into the FVG's
current (possibly partially filled) range.
Parameters:
fvg (fvgObject type from no1x/FvgTypes/1) : The FVG object to check.
Its isMitigated, isVisible, isBullish, currentTop, and currentBottom fields are used.
highVal (float) : The high price of the current bar.
lowVal (float) : The low price of the current bar.
Returns: True if price interacts with the FVG, false otherwise.
HH-HL-HH and LL-LH-LL Screener with AlertsAh, it seems you're referring to "Higher Low Higher High" in the context of **trading signals**! In trading, especially in technical analysis, these terms could be describing patterns or movements of price action that traders use to make decisions.
Let’s break down the terms you mentioned:
### 1. **Higher Low (HL)**:
- A **Higher Low** occurs when the price forms a low point that is higher than the previous low. It indicates upward momentum and suggests that the market may be in an uptrend or reversing to an uptrend.
For example:
- The price hits a low at $50, then rises to $60, then drops to $55. The **$55 low** is higher than the previous $50 low, indicating a potential uptrend.
### 2. **Higher High (HH)**:
- A **Higher High** happens when the price forms a high that is higher than the previous high. This is a strong bullish signal and is typical in an uptrend.
For example:
- The price reaches a peak of $70, drops to $60, then rises to $75. The **$75 high** is higher than the previous $70 high, indicating upward momentum.
### The Sequence: **Higher Low, Higher High (HL-HH)**
- This sequence (HL-HH) suggests that the market is in a **bullish trend**, with each subsequent low being higher than the previous low and each high being higher than the previous high. It’s a confirmation that the price is generally trending upwards, and traders might look for **buying opportunities**.
### 3. **Lower Low (LL)**:
- A **Lower Low** is when the price forms a low that is lower than the previous low, which is typically a sign of downward momentum. Traders may interpret this as a bearish signal.
For example:
- If the price drops from $60 to $55, then falls to $50, the **$50 low** is lower than the previous $55 low, indicating a potential downtrend.
### 4. **Lower High (LH)**:
- A **Lower High** occurs when the price forms a high that is lower than the previous high. This can indicate a weakening uptrend or the start of a downtrend.
For example:
- The price peaks at $70, then drops to $60, and later rises to $65. The **$65 high** is lower than the previous $70 high, suggesting bearish pressure.
### The Sequence: **Lower Low, Lower High (LL-LH)**
- The **LL-LH** pattern suggests a **bearish trend**, where the price forms lower lows and lower highs. This could signal to traders that the price is in a downward movement, and they might look for **selling opportunities**.
---
### Using This in Trading:
Traders often look for **higher highs** and **higher lows** in an uptrend (HL-HH), or **lower lows** and **lower highs** in a downtrend (LL-LH) to gauge market direction and make decisions.
- **Bullish Sign**: Higher Low, Higher High (HL-HH) = Look for buying signals or long positions.
- **Bearish Sign**: Lower Low, Lower High (LL-LH) = Look for selling signals or short positions.
Is this the type of trading signal you’re referring to? Let me know if you'd like to explore how to apply these signals in specific trading strategies!
V Pattern TrendDESCRIPTION:
The V Pattern Trend Indicator is designed to identify and highlight V-shaped reversal patterns in price action. It detects both bullish and bearish V formations using a five-candle structure, helping traders recognize potential trend reversal points. The indicator filters out insignificant patterns by using customizable settings based on ATR, percentage, or points, ensuring that only meaningful V patterns are displayed.
CALCULATION METHOD
The user can choose how the minimum length of a V pattern is determined. The available options are:
- ATR (Average True Range) – Filters V patterns based on ATR, making the detection adaptive to market volatility.
- Percentage (%) – Considers V patterns where the absolute price difference between the V low and V high is greater than a user-defined percentage of the V high.
- Points – Uses a fixed number of points to filter valid V patterns, making it useful for assets with consistent price ranges.
ATR SETTINGS
- ATR Length – Defines the number of periods for ATR calculation.
- ATR Multiplier – Determines the minimum V length as a multiple of ATR.
PERCENTAGE THRESHOLD
- Sets a minimum percentage difference between the V high and V low for a pattern to be considered valid.
POINTS THRESHOLD
- Defines the minimum price movement (in points) required for a V pattern to be considered significant.
PATTERN VISUALIZATION
- A bullish V pattern is plotted using two upward-sloping lines, with a filled green region to highlight the formation.
- A bearish V pattern is plotted using two downward-sloping lines, with a filled red region to indicate the reversal.
- The indicator dynamically updates and marks only the most recent valid patterns.
UNDERSTANDING V PATTERNS
A V pattern is a sharp reversal formation where price moves strongly in one direction and then rapidly reverses in the opposite direction, forming a "V" shape on the chart.
BULLISH V PATTERN
- A bullish V pattern is formed when the price makes three consecutive lower lows, followed by two consecutive higher lows.
- The pattern is confirmed when the highest high of the formation is greater than the previous highs within the structure.
- This pattern suggests a potential trend reversal from bearish to bullish.
- The lowest point of the pattern represents the V low, which acts as a support level.
bull_five_candle_v = low > low and low > low and low > low and low > low
and high > math.max(high , high , high ) and high > math.max(high , high , high )
BEARISH V PATTERN
- A bearish V pattern is detected when the price makes three consecutive higher highs, followed by two consecutive lower highs.
- The pattern is confirmed when the lowest low of the formation is lower than the previous lows within the structure.
- This pattern signals a possible trend reversal from bullish to bearish.
- The highest point of the pattern represents the V high, which acts as a resistance level.
bear_five_candle_v = high < high and high < high and high < high and high < high
and low < math.min(low , low , low ) and low < math.min(low , low , low )
HOW THIS IS UNIQUE
- Advanced Filtering Mechanism – Unlike basic reversal indicators, this tool provides customizable filtering based on ATR, percentage, or points, ensuring that only significant V patterns are displayed.
- Enhanced Visual Clarity – The indicator uses color-coded fills and structured plotting to make reversal patterns easy to recognize.
- Works Across Market Conditions – Adaptable to different market environments, filtering out weak or insignificant price fluctuations.
- Multi-Timeframe Usability – Can be applied across different timeframes and asset classes, making it useful for both intraday and swing trading.
HOW TRADERS CAN USE THIS INDICATOR
- Identify potential trend reversals early based on structured price action.
- Filter out weak or insignificant reversals to focus only on strong V formations.
- Use the V pattern’s highs and lows as key support and resistance zones for trade entries and exits.
- Combine with other indicators like moving averages, trendlines, or momentum oscillators for confirmation.
SCE Price Action SuiteThis is an indicator designed to use past market data to mark key price action levels as well as provide a different kind of insight. There are 8 different features in the script that users can turn on and off. This description will go in depth on all 8 with chart examples.
#1 Absorption Zones
I defined Absorption Zones as follows.
//----------------------------------------------
//---------------Absorption---------------------
//----------------------------------------------
box absorptionBox = na
absorptionBar = ta.highest(bodySize, absorptionLkb)
bsab = ta.barssince(bool(ta.change(absorptionBar)))
if bsab == 0 and upBar and showAbsorption
absorptionBox := box.new(left = bar_index - 1, top = close, right = bar_index + az_strcuture, bottom = open, border_color = color.rgb(0, 80, 75), border_width = boxLineSize, bgcolor = color.rgb(0, 80, 75))
absorptionBox
else if bsab == 0 and downBar and showAbsorption
absorptionBox := box.new(left = bar_index - 1, top = close, right = bar_index + az_strcuture, bottom = open, border_color = color.rgb(105, 15, 15), border_width = boxLineSize, bgcolor = color.rgb(105, 15, 15))
absorptionBox
What this means is that absorption bars are defined as the bars with the largest bodies over a selected lookback period. Those large bodies represent areas where price may react. I was inspired by the concept of a Fair Value Gap for this concept. In that body price may enter to be a point of support or resistance, market participants get “absorbed” in the area so price can continue in whichever direction.
#2 Candle Wick Theory/Strategy
I defined Candle Wick Theory/Strategy as follows.
//----------------------------------------------
//---------------Candle Wick--------------------
//----------------------------------------------
highWick = upBar ? high - close : downBar ? high - open : na
lowWick = upBar ? open - low : downBar ? close - low : na
upWick = upBar ? close + highWick : downBar ? open + highWick : na
downWick = upBar ? open - lowWick : downBar ? close - lowWick : na
downDelivery = upBar and downBar and high > upWick and highWick > lowWick and totalSize > totalSize and barstate.isconfirmed and session.ismarket
upDelivery = downBar and upBar and low < downWick and highWick < lowWick and totalSize > totalSize and barstate.isconfirmed and session.ismarket
line lG = na
line lE = na
line lR = na
bodyMidpoint = math.abs(body) / 2
upWickMidpoint = math.abs(upWickSize) / 2
downWickkMidpoint = math.abs(downWickSize) / 2
if upDelivery and showCdTheory
cpE = chart.point.new(time, bar_index - 1, downWickkMidpoint)
cpE2 = chart.point.new(time, bar_index + bl, downWickkMidpoint)
cpG = chart.point.new(time, bar_index + bl, downWickkMidpoint * (1 + tp))
cpR = chart.point.new(time, bar_index + bl, downWickkMidpoint * (1 - sl))
cpG1 = chart.point.new(time, bar_index - 1, downWickkMidpoint * (1 + tp))
cpR1 = chart.point.new(time, bar_index - 1, downWickkMidpoint * (1 - sl))
lG := line.new(cpG1, cpG, xloc.bar_index, extend.none, color.green, line.style_solid, 1)
lE := line.new(cpE, cpE2, xloc.bar_index, extend.none, color.white, line.style_solid, 1)
lR := line.new(cpR1, cpR, xloc.bar_index, extend.none, color.red, line.style_solid, 1)
lR
else if downDelivery and showCdTheory
cpE = chart.point.new(time, bar_index - 1, upWickMidpoint)
cpE2 = chart.point.new(time, bar_index + bl, upWickMidpoint)
cpG = chart.point.new(time, bar_index + bl, upWickMidpoint * (1 - tp))
cpR = chart.point.new(time, bar_index + bl, upWickMidpoint * (1 + sl))
cpG1 = chart.point.new(time, bar_index - 1, upWickMidpoint * (1 - tp))
cpR1 = chart.point.new(time, bar_index - 1, upWickMidpoint * (1 + sl))
lG := line.new(cpG1, cpG, xloc.bar_index, extend.none, color.green, line.style_solid, 1)
lE := line.new(cpE, cpE2, xloc.bar_index, extend.none, color.white, line.style_solid, 1)
lR := line.new(cpR1, cpR, xloc.bar_index, extend.none, color.red, line.style_solid, 1)
lR
First I get the size of the wicks for the top and bottoms of the candles. This depends on if the bar is red or green. If the bar is green the wick is the high minus the close, if red the high minus the open, and so on. Next, the script defines the upper and lower bounds of the wicks for further comparison. If the candle is green, it's the open price minus the bottom wick. If the candle is red, it's the close price minus the bottom wick, and so on. Next we have the condition for when this strategy is present.
Down delivery:
Occurs when the previous candle is green, the current candle is red, and:
The high of the current candle is above the upper wick of the previous candle.
The size of the current candle's top wick is greater than its bottom wick.
The total size of the previous candle is greater than the total size of the current candle.
The current bar is confirmed (barstate.isconfirmed).
The session is during market hours (session.ismarket).
Up delivery:
Occurs when the previous candle is red, the current candle is green, and:
The low of the current candle is below the lower wick of the previous candle.
The size of the current candle's bottom wick is greater than its top wick.
The total size of the previous candle is greater than the total size of the current candle.
The current bar is confirmed.
The session is during market hours
Then risk is plotted from the percentage that users can input from an ideal entry spot.
#3 Candle Size Theory
I defined Candle Size Theory as follows.
//----------------------------------------------
//---------------Candle displacement------------
//----------------------------------------------
line lECD = na
notableDown = bodySize > bodySize * candle_size_sensitivity and downBar and session.ismarket and barstate.isconfirmed
notableUp = bodySize > bodySize * candle_size_sensitivity and upBar and session.ismarket and barstate.isconfirmed
if notableUp and showCdSizeTheory
cpE = chart.point.new(time, bar_index - 1, close)
cpE2 = chart.point.new(time, bar_index + bl_strcuture, close)
lECD := line.new(cpE, cpE2, xloc.bar_index, extend.none, color.rgb(0, 80, 75), line.style_solid, 3)
lECD
else if notableDown and showCdSizeTheory
cpE = chart.point.new(time, bar_index - 1, close)
cpE2 = chart.point.new(time, bar_index + bl_strcuture, close)
lECD := line.new(cpE, cpE2, xloc.bar_index, extend.none, color.rgb(105, 15, 15), line.style_solid, 3)
lECD
This plots candles that are “notable” or out of the ordinary. Candles that are larger than the last by a value users get to specify. These candles' highs or lows, if they are green or red, act as levels for support or resistance.
#4 Candle Structure Theory
I defined Candle Structure Theory as follows.
//----------------------------------------------
//---------------Structure----------------------
//----------------------------------------------
breakDownStructure = low < low and low < low and high > high and upBar and downBar and upBar and downBar and session.ismarket and barstate.isconfirmed
breakUpStructure = low > low and low > low and high < high and downBar and upBar and downBar and upBar and session.ismarket and barstate.isconfirmed
if breakUpStructure and showStructureTheory
cpE = chart.point.new(time, bar_index - 1, close)
cpE2 = chart.point.new(time, bar_index + bl_strcuture, close)
lE := line.new(cpE, cpE2, xloc.bar_index, extend.none, color.teal, line.style_solid, 3)
lE
else if breakDownStructure and showStructureTheory
cpE = chart.point.new(time, bar_index - 1, open)
cpE2 = chart.point.new(time, bar_index + bl_strcuture, open)
lE := line.new(cpE, cpE2, xloc.bar_index, extend.none, color.red, line.style_solid, 3)
lE
It is a series of candles to create a notable event. 2 lower lows in a row, a lower high, then green bar, red bar, green bar is a structure for a breakdown. 2 higher lows in a row, a higher high, red bar, green bar, red bar for a break up.
#5 Candle Swing Structure Theory
I defined Candle Swing Structure Theory as follows.
//----------------------------------------------
//---------------Swing Structure----------------
//----------------------------------------------
line htb = na
line ltb = na
if totalSize * swing_struct_sense < totalSize and upBar and downBar and high > high and showSwingSturcture and session.ismarket and barstate.isconfirmed
cpS = chart.point.new(time, bar_index - 1, high)
cpE = chart.point.new(time, bar_index + bl_strcuture, high)
htb := line.new(cpS, cpE, xloc.bar_index, color = color.red, style = line.style_dashed)
htb
else if totalSize * swing_struct_sense < totalSize and downBar and upBar and low > low and showSwingSturcture and session.ismarket and barstate.isconfirmed
cpS = chart.point.new(time, bar_index - 1, low)
cpE = chart.point.new(time, bar_index + bl_strcuture, low)
ltb := line.new(cpS, cpE, xloc.bar_index, color = color.teal, style = line.style_dashed)
ltb
A bearish swing structure is defined as the last candle’s total size, times a scalar that the user can input, is less than the current candles. Like a size imbalance. The last bar must be green and this one red. The last high should also be less than this high. For a bullish swing structure the same size imbalance must be present, but we need a red bar then a green bar, and the last low higher than the current low.
#6 Fractal Boxes
I define the Fractal Boxes as follows
//----------------------------------------------
//---------------Fractal Boxes------------------
//----------------------------------------------
box b = na
int indexx = na
if bar_index % (n * 2) == 0 and session.ismarket and showBoxes
b := box.new(left = bar_index, top = topBox, right = bar_index + n, bottom = bottomBox, border_color = color.rgb(105, 15, 15), border_width = boxLineSize, bgcolor = na)
indexx := bar_index + 1
indexx
The idea of this strategy is that the market is fractal. It is considered impossible to be able to tell apart two different time frames from just the chart. So inside the chart there are many many breakouts and breakdowns happening as price bounces around. The boxes are there to give you the view from your timeframe if the market is in a range from a time frame that would be higher than it. Like if we are inside what a larger time frame candle’s range. If we break out or down from this, we might be able to trade it. Users can specify a lookback period and the box is that period’s, as an interval, high and low. I say as an interval because it is plotted every n * 2 bars. So we get a box, price moves, then a new box.
#7 Potential Move Width
I define the Potential Move Width as follows
//----------------------------------------------
//---------------Move width---------------------
//----------------------------------------------
velocity = V(n)
line lC = na
line l = na
line l2 = na
line l3 = na
line l4 = na
line l5 = na
line l6 = na
line l7 = na
line l8 = na
line lGFractal = na
line lRFractal = na
cp2 = chart.point.new(time, bar_index + n, close + velocity)
cp3 = chart.point.new(time, bar_index + n, close - velocity)
cp4 = chart.point.new(time, bar_index + n, close + velocity * 5)
cp5 = chart.point.new(time, bar_index + n, close - velocity * 5)
cp6 = chart.point.new(time, bar_index + n, close + velocity * 10)
cp7 = chart.point.new(time, bar_index + n, close - velocity * 10)
cp8 = chart.point.new(time, bar_index + n, close + velocity * 15)
cp9 = chart.point.new(time, bar_index + n, close - velocity * 15)
cpG = chart.point.new(time, bar_index + n, close + R)
cpR = chart.point.new(time, bar_index + n, close - R)
if ((bar_index + n) * 2 - bar_index) % n == 0 and session.ismarket and barstate.isconfirmed and showPredictionWidtn
cp = chart.point.new(time, bar_index, close)
cpG1 = chart.point.new(time, bar_index, close + R)
cpR1 = chart.point.new(time, bar_index, close - R)
l := line.new(cp, cp2, xloc.bar_index, extend.none, color.aqua, line.style_solid, 1)
l2 := line.new(cp, cp3, xloc.bar_index, extend.none, color.aqua, line.style_solid, 1)
l3 := line.new(cp, cp4, xloc.bar_index, extend.none, color.red, line.style_solid, 1)
l4 := line.new(cp, cp5, xloc.bar_index, extend.none, color.red, line.style_solid, 1)
l5 := line.new(cp, cp6, xloc.bar_index, extend.none, color.teal, line.style_solid, 1)
l6 := line.new(cp, cp7, xloc.bar_index, extend.none, color.teal, line.style_solid, 1)
l7 := line.new(cp, cp8, xloc.bar_index, extend.none, color.blue, line.style_solid, 1)
l8 := line.new(cp, cp9, xloc.bar_index, extend.none, color.blue, line.style_solid, 1)
l8
By using the past n bar’s velocity, or directional speed, every n * 2 bars. I can use it to scale the close value and get an estimate for how wide the next moves might be.
#8 Linear regression
//----------------------------------------------
//---------------Linear Regression--------------
//----------------------------------------------
lr = showLR ? ta.linreg(close, n, 0) : na
plot(lr, 'Linear Regression', color.blue)
I used TradingView’s built in linear regression to not reinvent the wheel. This is present to see past market strength of weakness from a different perspective.
User input
Users can control a lot about this script. For the strategy based plots you can enter what you want the risk to be in percentages. So the default 0.01 is 1%. You can also control how far forward the line goes.
Look back at where it is needed as well as line width for the Fractal Boxes are controllable. Also users can check on and off what they would like to see on the charts.
No indicator is 100% reliable, do not follow this one blindly. I encourage traders to make their own decisions and not trade solely based on technical indicators. I encourage constructive criticism in the comments below. Thank you.
lib_smcLibrary "lib_smc"
This is an adaptation of LuxAlgo's Smart Money Concepts indicator with numerous changes. Main changes include integration of object based plotting, plenty of performance improvements, live tracking of Order Blocks, integration of volume profiles to refine Order Blocks, and many more.
This is a library for developers, if you want this converted into a working strategy, let me know.
buffer(item, len, force_rotate)
Parameters:
item (float)
len (int)
force_rotate (bool)
buffer(item, len, force_rotate)
Parameters:
item (int)
len (int)
force_rotate (bool)
buffer(item, len, force_rotate)
Parameters:
item (Profile type from robbatt/lib_profile/32)
len (int)
force_rotate (bool)
swings(len)
INTERNAL: detect swing points (HH and LL) in given range
Parameters:
len (simple int) : range to check for new swing points
Returns: values are the price level where and if a new HH or LL was detected, else na
method init(this)
Namespace types: OrderBlockConfig
Parameters:
this (OrderBlockConfig)
method delete(this)
Namespace types: OrderBlock
Parameters:
this (OrderBlock)
method clear_broken(this, broken_buffer)
INTERNAL: delete internal order blocks box coordinates if top/bottom is broken
Namespace types: map
Parameters:
this (map)
broken_buffer (map)
Returns: any_bull_ob_broken, any_bear_ob_broken, broken signals are true if an according order block was broken/mitigated, broken contains the broken block(s)
create_ob(id, mode, start_t, start_i, top, end_t, end_i, bottom, break_price, early_confirmation_price, config, init_plot, force_overlay)
INTERNAL: set internal order block coordinates
Parameters:
id (int)
mode (int) : 1: bullish, -1 bearish block
start_t (int)
start_i (int)
top (float)
end_t (int)
end_i (int)
bottom (float)
break_price (float)
early_confirmation_price (float)
config (OrderBlockConfig)
init_plot (bool)
force_overlay (bool)
Returns: signals are true if an according order block was broken/mitigated
method align_to_profile(block, align_edge, align_break_price)
Namespace types: OrderBlock
Parameters:
block (OrderBlock)
align_edge (bool)
align_break_price (bool)
method create_profile(block, opens, tops, bottoms, closes, values, resolution, vah_pc, val_pc, args, init_calculated, init_plot, force_overlay)
Namespace types: OrderBlock
Parameters:
block (OrderBlock)
opens (array)
tops (array)
bottoms (array)
closes (array)
values (array)
resolution (int)
vah_pc (float)
val_pc (float)
args (ProfileArgs type from robbatt/lib_profile/32)
init_calculated (bool)
init_plot (bool)
force_overlay (bool)
method create_profile(block, resolution, vah_pc, val_pc, args, init_calculated, init_plot, force_overlay)
Namespace types: OrderBlock
Parameters:
block (OrderBlock)
resolution (int)
vah_pc (float)
val_pc (float)
args (ProfileArgs type from robbatt/lib_profile/32)
init_calculated (bool)
init_plot (bool)
force_overlay (bool)
track_obs(swing_len, hh, ll, top, btm, bull_bos_alert, bull_choch_alert, bear_bos_alert, bear_choch_alert, min_block_size, max_block_size, config_bull, config_bear, init_plot, force_overlay, enabled, extend_blocks, clear_broken_buffer_before, align_edge_to_value_area, align_break_price_to_poc, profile_args_bull, profile_args_bear, use_soft_confirm, soft_confirm_offset, use_retracements_with_FVG_out)
Parameters:
swing_len (int)
hh (float)
ll (float)
top (float)
btm (float)
bull_bos_alert (bool)
bull_choch_alert (bool)
bear_bos_alert (bool)
bear_choch_alert (bool)
min_block_size (float)
max_block_size (float)
config_bull (OrderBlockConfig)
config_bear (OrderBlockConfig)
init_plot (bool)
force_overlay (bool)
enabled (bool)
extend_blocks (simple bool)
clear_broken_buffer_before (simple bool)
align_edge_to_value_area (simple bool)
align_break_price_to_poc (simple bool)
profile_args_bull (ProfileArgs type from robbatt/lib_profile/32)
profile_args_bear (ProfileArgs type from robbatt/lib_profile/32)
use_soft_confirm (simple bool)
soft_confirm_offset (float)
use_retracements_with_FVG_out (simple bool)
method draw(this, config, extend_only)
Namespace types: OrderBlock
Parameters:
this (OrderBlock)
config (OrderBlockConfig)
extend_only (bool)
method draw(blocks, config)
INTERNAL: plot order blocks
Namespace types: array
Parameters:
blocks (array)
config (OrderBlockConfig)
method draw(blocks, config)
INTERNAL: plot order blocks
Namespace types: map
Parameters:
blocks (map)
config (OrderBlockConfig)
method cleanup(this, ob_bull, ob_bear)
removes all Profiles that are older than the latest OrderBlock from this profile buffer
Namespace types: array
Parameters:
this (array type from robbatt/lib_profile/32)
ob_bull (OrderBlock)
ob_bear (OrderBlock)
_plot_swing_points(mode, x, y, show_swing_points, linecolor_swings, keep_history, show_latest_swings_levels, trail_x, trail_y, trend)
INTERNAL: plot swing points
Parameters:
mode (int) : 1: bullish, -1 bearish block
x (int) : x-coordingate of swing point to plot (bar_index)
y (float) : y-coordingate of swing point to plot (price)
show_swing_points (bool) : switch to enable/disable plotting of swing point labels
linecolor_swings (color) : color for swing point labels and lates level lines
keep_history (bool) : weater to remove older swing point labels and only keep the most recent
show_latest_swings_levels (bool)
trail_x (int) : x-coordinate for latest swing point (bar_index)
trail_y (float) : y-coordinate for latest swing point (price)
trend (int) : the current trend 1: bullish, -1: bearish, to determine Strong/Weak Low/Highs
_pivot_lvl(mode, trend, hhll_x, hhll, super_hhll, filter_insignificant_internal_breaks)
INTERNAL: detect whether a structural level has been broken and if it was in trend direction (BoS) or against trend direction (ChoCh), also track the latest high and low swing points
Parameters:
mode (simple int) : detect 1: bullish, -1 bearish pivot points
trend (int) : current trend direction
hhll_x (int) : x-coordinate of newly detected hh/ll (bar_index)
hhll (float) : y-coordinate of newly detected hh/ll (price)
super_hhll (float) : level/y-coordinate of superior hhll (if this is an internal structure pivot level)
filter_insignificant_internal_breaks (bool) : if true pivot points / internal structure will be ignored where the wick in trend direction is longer than the opposite (likely to push further in direction of main trend)
Returns: coordinates of internal structure that has been broken (x,y): start of structure, (trail_x, trail_y): tracking hh/ll after structure break, (bos_alert, choch_alert): signal whether a structural level has been broken
_plot_structure(x, y, is_bos, is_choch, line_color, line_style, label_style, label_size, keep_history)
INTERNAL: plot structural breaks (BoS/ChoCh)
Parameters:
x (int) : x-coordinate of newly broken structure (bar_index)
y (float) : y-coordinate of newly broken structure (price)
is_bos (bool) : whether this structural break was in trend direction
is_choch (bool) : whether this structural break was against trend direction
line_color (color) : color for the line connecting the structural level and the breaking candle
line_style (string) : style (line.style_dashed/solid) for the line connecting the structural level and the breaking candle
label_style (string) : style (label.style_label_down/up) for the label above/below the line connecting the structural level and the breaking candle
label_size (string) : size (size.small/tiny) for the label above/below the line connecting the structural level and the breaking candle
keep_history (bool) : weater to remove older swing point labels and only keep the most recent
structure_values(length, super_hh, super_ll, filter_insignificant_internal_breaks)
detect (and plot) structural breaks and the resulting new trend
Parameters:
length (simple int) : lookback period for swing point detection
super_hh (float) : level/y-coordinate of superior hh (for internal structure detection)
super_ll (float) : level/y-coordinate of superior ll (for internal structure detection)
filter_insignificant_internal_breaks (bool) : if true pivot points / internal structure will be ignored where the wick in trend direction is longer than the opposite (likely to push further in direction of main trend)
Returns: trend: direction 1:bullish -1:bearish, (bull_bos_alert, bull_choch_alert, top_x, top_y, trail_up_x, trail_up): whether and which level broke in a bullish direction, trailing high, (bbear_bos_alert, bear_choch_alert, tm_x, btm_y, trail_dn_x, trail_dn): same in bearish direction
structure_plot(trend, bull_bos_alert, bull_choch_alert, top_x, top_y, trail_up_x, trail_up, hh, bear_bos_alert, bear_choch_alert, btm_x, btm_y, trail_dn_x, trail_dn, ll, color_bull, color_bear, show_swing_points, show_latest_swings_levels, show_bos, show_choch, line_style, label_size, keep_history)
detect (and plot) structural breaks and the resulting new trend
Parameters:
trend (int) : crrent trend 1: bullish, -1: bearish
bull_bos_alert (bool) : if there was a bullish bos alert -> plot it
bull_choch_alert (bool) : if there was a bullish choch alert -> plot it
top_x (int) : latest shwing high x
top_y (float) : latest swing high y
trail_up_x (int) : trailing high x
trail_up (float) : trailing high y
hh (float) : if there was a higher high
bear_bos_alert (bool) : if there was a bearish bos alert -> plot it
bear_choch_alert (bool) : if there was a bearish chock alert -> plot it
btm_x (int) : latest swing low x
btm_y (float) : latest swing low y
trail_dn_x (int) : trailing low x
trail_dn (float) : trailing low y
ll (float) : if there was a lower low
color_bull (color) : color for bullish BoS/ChoCh levels
color_bear (color) : color for bearish BoS/ChoCh levels
show_swing_points (bool) : whether to plot swing point labels
show_latest_swings_levels (bool) : whether to track and plot latest swing point levels with lines
show_bos (bool) : whether to plot BoS levels
show_choch (bool) : whether to plot ChoCh levels
line_style (string) : whether to plot BoS levels
label_size (string) : label size of plotted BoS/ChoCh levels
keep_history (bool) : weater to remove older swing point labels and only keep the most recent
structure(length, color_bull, color_bear, super_hh, super_ll, filter_insignificant_internal_breaks, show_swing_points, show_latest_swings_levels, show_bos, show_choch, line_style, label_size, keep_history, enabled)
detect (and plot) structural breaks and the resulting new trend
Parameters:
length (simple int) : lookback period for swing point detection
color_bull (color) : color for bullish BoS/ChoCh levels
color_bear (color) : color for bearish BoS/ChoCh levels
super_hh (float) : level/y-coordinate of superior hh (for internal structure detection)
super_ll (float) : level/y-coordinate of superior ll (for internal structure detection)
filter_insignificant_internal_breaks (bool) : if true pivot points / internal structure will be ignored where the wick in trend direction is longer than the opposite (likely to push further in direction of main trend)
show_swing_points (bool) : whether to plot swing point labels
show_latest_swings_levels (bool) : whether to track and plot latest swing point levels with lines
show_bos (bool) : whether to plot BoS levels
show_choch (bool) : whether to plot ChoCh levels
line_style (string) : whether to plot BoS levels
label_size (string) : label size of plotted BoS/ChoCh levels
keep_history (bool) : weater to remove older swing point labels and only keep the most recent
enabled (bool)
_check_equal_level(mode, len, eq_threshold, enabled)
INTERNAL: detect equal levels (double top/bottom)
Parameters:
mode (int) : detect 1: bullish/high, -1 bearish/low pivot points
len (int) : lookback period for equal level (swing point) detection
eq_threshold (float) : maximum price offset for a level to be considered equal
enabled (bool)
Returns: eq_alert whether an equal level was detected and coordinates of the first and the second level/swing point
_plot_equal_level(show_eq, x1, y1, x2, y2, label_txt, label_style, label_size, line_color, line_style, keep_history)
INTERNAL: plot equal levels (double top/bottom)
Parameters:
show_eq (bool) : whether to plot the level or not
x1 (int) : x-coordinate of the first level / swing point
y1 (float) : y-coordinate of the first level / swing point
x2 (int) : x-coordinate of the second level / swing point
y2 (float) : y-coordinate of the second level / swing point
label_txt (string) : text for the label above/below the line connecting the equal levels
label_style (string) : style (label.style_label_down/up) for the label above/below the line connecting the equal levels
label_size (string) : size (size.tiny) for the label above/below the line connecting the equal levels
line_color (color) : color for the line connecting the equal levels (and it's label)
line_style (string) : style (line.style_dotted) for the line connecting the equal levels
keep_history (bool) : weater to remove older swing point labels and only keep the most recent
equal_levels_values(len, threshold, enabled)
detect (and plot) equal levels (double top/bottom), returns coordinates
Parameters:
len (int) : lookback period for equal level (swing point) detection
threshold (float) : maximum price offset for a level to be considered equal
enabled (bool) : whether detection is enabled
Returns: (eqh_alert, eqh_x1, eqh_y1, eqh_x2, eqh_y2) whether an equal high was detected and coordinates of the first and the second level/swing point, (eql_alert, eql_x1, eql_y1, eql_x2, eql_y2) same for equal lows
equal_levels_plot(eqh_x1, eqh_y1, eqh_x2, eqh_y2, eql_x1, eql_y1, eql_x2, eql_y2, color_eqh, color_eql, show, keep_history)
detect (and plot) equal levels (double top/bottom), returns coordinates
Parameters:
eqh_x1 (int) : coordinates of first point of equal high
eqh_y1 (float) : coordinates of first point of equal high
eqh_x2 (int) : coordinates of second point of equal high
eqh_y2 (float) : coordinates of second point of equal high
eql_x1 (int) : coordinates of first point of equal low
eql_y1 (float) : coordinates of first point of equal low
eql_x2 (int) : coordinates of second point of equal low
eql_y2 (float) : coordinates of second point of equal low
color_eqh (color) : color for the line connecting the equal highs (and it's label)
color_eql (color) : color for the line connecting the equal lows (and it's label)
show (bool) : whether plotting is enabled
keep_history (bool) : weater to remove older swing point labels and only keep the most recent
Returns: (eqh_alert, eqh_x1, eqh_y1, eqh_x2, eqh_y2) whether an equal high was detected and coordinates of the first and the second level/swing point, (eql_alert, eql_x1, eql_y1, eql_x2, eql_y2) same for equal lows
equal_levels(len, threshold, color_eqh, color_eql, enabled, show, keep_history)
detect (and plot) equal levels (double top/bottom)
Parameters:
len (int) : lookback period for equal level (swing point) detection
threshold (float) : maximum price offset for a level to be considered equal
color_eqh (color) : color for the line connecting the equal highs (and it's label)
color_eql (color) : color for the line connecting the equal lows (and it's label)
enabled (bool) : whether detection is enabled
show (bool) : whether plotting is enabled
keep_history (bool) : weater to remove older swing point labels and only keep the most recent
Returns: (eqh_alert) whether an equal high was detected, (eql_alert) same for equal lows
_detect_fvg(mode, enabled, o, h, l, c, filter_insignificant_fvgs, change_tf)
INTERNAL: detect FVG (fair value gap)
Parameters:
mode (int) : detect 1: bullish, -1 bearish gaps
enabled (bool) : whether detection is enabled
o (float) : reference source open
h (float) : reference source high
l (float) : reference source low
c (float) : reference source close
filter_insignificant_fvgs (bool) : whether to calculate and filter small/insignificant gaps
change_tf (bool) : signal when the previous reference timeframe closed, triggers new calculation
Returns: whether a new FVG was detected and its top/mid/bottom levels
_clear_broken_fvg(mode, upper_boxes, lower_boxes)
INTERNAL: clear mitigated FVGs (fair value gaps)
Parameters:
mode (int) : detect 1: bullish, -1 bearish gaps
upper_boxes (array) : array that stores the upper parts of the FVG boxes
lower_boxes (array) : array that stores the lower parts of the FVG boxes
_plot_fvg(mode, show, top, mid, btm, border_color, extend_box)
INTERNAL: plot (and clear broken) FVG (fair value gap)
Parameters:
mode (int) : plot 1: bullish, -1 bearish gap
show (bool) : whether plotting is enabled
top (float) : top level of fvg
mid (float) : center level of fvg
btm (float) : bottom level of fvg
border_color (color) : color for the FVG box
extend_box (int) : how many bars into the future the FVG box should be extended after detection
fvgs_values(o, h, l, c, filter_insignificant_fvgs, change_tf, enabled)
detect (and plot / clear broken) FVGs (fair value gaps), and return alerts and level values
Parameters:
o (float) : reference source open
h (float) : reference source high
l (float) : reference source low
c (float) : reference source close
filter_insignificant_fvgs (bool) : whether to calculate and filter small/insignificant gaps
change_tf (bool) : signal when the previous reference timeframe closed, triggers new calculation
enabled (bool) : whether detection is enabled
Returns: (bullish_fvg_alert, bull_top, bull_mid, bull_btm): whether a new bullish FVG was detected and its top/mid/bottom levels, (bearish_fvg_alert, bear_top, bear_mid, bear_btm): same for bearish FVGs
fvgs_plot(bullish_fvg_alert, bull_top, bull_mid, bull_btm, bearish_fvg_alert, bear_top, bear_mid, bear_btm, color_bull, color_bear, extend_box, show)
Parameters:
bullish_fvg_alert (bool)
bull_top (float)
bull_mid (float)
bull_btm (float)
bearish_fvg_alert (bool)
bear_top (float)
bear_mid (float)
bear_btm (float)
color_bull (color) : color for bullish FVG boxes
color_bear (color) : color for bearish FVG boxes
extend_box (int) : how many bars into the future the FVG box should be extended after detection
show (bool) : whether plotting is enabled
Returns: (bullish_fvg_alert, bull_top, bull_mid, bull_btm): whether a new bullish FVG was detected and its top/mid/bottom levels, (bearish_fvg_alert, bear_top, bear_mid, bear_btm): same for bearish FVGs
fvgs(o, h, l, c, filter_insignificant_fvgs, change_tf, color_bull, color_bear, extend_box, enabled, show)
detect (and plot / clear broken) FVGs (fair value gaps)
Parameters:
o (float) : reference source open
h (float) : reference source high
l (float) : reference source low
c (float) : reference source close
filter_insignificant_fvgs (bool) : whether to calculate and filter small/insignificant gaps
change_tf (bool) : signal when the previous reference timeframe closed, triggers new calculation
color_bull (color) : color for bullish FVG boxes
color_bear (color) : color for bearish FVG boxes
extend_box (int) : how many bars into the future the FVG box should be extended after detection
enabled (bool) : whether detection is enabled
show (bool) : whether plotting is enabled
Returns: (bullish_fvg_alert): whether a new bullish FVG was detected, (bearish_fvg_alert): same for bearish FVGs
OrderBlock
Fields:
id (series int)
dir (series int)
left_top (chart.point)
right_bottom (chart.point)
break_price (series float)
early_confirmation_price (series float)
ltf_high (array)
ltf_low (array)
ltf_volume (array)
plot (Box type from robbatt/lib_plot_objects/49)
profile (Profile type from robbatt/lib_profile/32)
trailing (series bool)
extending (series bool)
awaiting_confirmation (series bool)
touched_break_price_before_confirmation (series bool)
soft_confirmed (series bool)
has_fvg_out (series bool)
hidden (series bool)
broken (series bool)
OrderBlockConfig
Fields:
show (series bool)
show_last (series int)
show_id (series bool)
show_profile (series bool)
args (BoxArgs type from robbatt/lib_plot_objects/49)
txt (series string)
txt_args (BoxTextArgs type from robbatt/lib_plot_objects/49)
delete_when_broken (series bool)
broken_args (BoxArgs type from robbatt/lib_plot_objects/49)
broken_txt (series string)
broken_txt_args (BoxTextArgs type from robbatt/lib_plot_objects/49)
broken_profile_args (ProfileArgs type from robbatt/lib_profile/32)
use_profile (series bool)
profile_args (ProfileArgs type from robbatt/lib_profile/32)
ICT Master Suite [Trading IQ]Hello Traders!
We’re excited to introduce the ICT Master Suite by TradingIQ, a new tool designed to bring together several ICT concepts and strategies in one place.
The Purpose Behind the ICT Master Suite
There are a few challenges traders often face when using ICT-related indicators:
Many available indicators focus on one or two ICT methods, which can limit traders who apply a broader range of ICT related techniques on their charts.
There aren't many indicators for ICT strategy models, and we couldn't find ICT indicators that allow for testing the strategy models and setting alerts.
Many ICT related concepts exist in the public domain as indicators, not strategies! This makes it difficult to verify that the ICT concept has some utility in the market you're trading and if it's worth trading - it's difficult to know if it's working!
Some users might not have enough chart space to apply numerous ICT related indicators, which can be restrictive for those wanting to use multiple ICT techniques simultaneously.
The ICT Master Suite is designed to offer a comprehensive option for traders who want to apply a variety of ICT methods. By combining several ICT techniques and strategy models into one indicator, it helps users maximize their chart space while accessing multiple tools in a single slot.
Additionally, the ICT Master Suite was developed as a strategy . This means users can backtest various ICT strategy models - including deep backtesting. A primary goal of this indicator is to let traders decide for themselves what markets to trade ICT concepts in and give them the capability to figure out if the strategy models are worth trading!
What Makes the ICT Master Suite Different
There are many ICT-related indicators available on TradingView, each offering valuable insights. What the ICT Master Suite aims to do is bring together a wider selection of these techniques into one tool. This includes both key ICT methods and strategy models, allowing traders to test and activate strategies all within one indicator.
Features
The ICT Master Suite offers:
Multiple ICT strategy models, including the 2022 Strategy Model and Unicorn Model, which can be built, tested, and used for live trading.
Calculation and display of key price areas like Breaker Blocks, Rejection Blocks, Order Blocks, Fair Value Gaps, Equal Levels, and more.
The ability to set alerts based on these ICT strategies and key price areas.
A comprehensive, yet practical, all-inclusive ICT indicator for traders.
Customizable Timeframe - Calculate ICT concepts on off-chart timeframes
Unicorn Strategy Model
2022 Strategy Model
Liquidity Raid Strategy Model
OTE (Optimal Trade Entry) Strategy Model
Silver Bullet Strategy Model
Order blocks
Breaker blocks
Rejection blocks
FVG
Strong highs and lows
Displacements
Liquidity sweeps
Power of 3
ICT Macros
HTF previous bar high and low
Break of Structure indications
Market Structure Shift indications
Equal highs and lows
Swings highs and swing lows
Fibonacci TPs and SLs
Swing level TPs and SLs
Previous day high and low TPs and SLs
And much more! An ongoing project!
How To Use
Many traders will already be familiar with the ICT related concepts listed above, and will find using the ICT Master Suite quite intuitive!
Despite this, let's go over the features of the tool in-depth and how to use the tool!
The image above shows the ICT Master Suite with almost all techniques activated.
ICT 2022 Strategy Model
The ICT Master suite provides the ability to test, set alerts for, and live trade the ICT 2022 Strategy Model.
The image above shows an example of a long position being entered following a complete setup for the 2022 ICT model.
A liquidity sweep occurs prior to an upside breakout. During the upside breakout the model looks for the FVG that is nearest 50% of the setup range. A limit order is placed at this FVG for entry.
The target entry percentage for the range is customizable in the settings. For instance, you can select to enter at an FVG nearest 33% of the range, 20%, 66%, etc.
The profit target for the model generally uses the highest high of the range (100%) for longs and the lowest low of the range (100%) for shorts. Stop losses are generally set at 0% of the range.
The image above shows the short model in action!
Whether you decide to follow the 2022 model diligently or not, you can still set alerts when the entry condition is met.
ICT Unicorn Model
The image above shows an example of a long position being entered following a complete setup for the ICT Unicorn model.
A lower swing low followed by a higher swing high precedes the overlap of an FVG and breaker block formed during the sequence.
During the upside breakout the model looks for an FVG and breaker block that formed during the sequence and overlap each other. A limit order is placed at the nearest overlap point to current price.
The profit target for this example trade is set at the swing high and the stop loss at the swing low. However, both the profit target and stop loss for this model are configurable in the settings.
For Longs, the selectable profit targets are:
Swing High
Fib -0.5
Fib -1
Fib -2
For Longs, the selectable stop losses are:
Swing Low
Bottom of FVG or breaker block
The image above shows the short version of the Unicorn Model in action!
For Shorts, the selectable profit targets are:
Swing Low
Fib -0.5
Fib -1
Fib -2
For Shorts, the selectable stop losses are:
Swing High
Top of FVG or breaker block
The image above shows the profit target and stop loss options in the settings for the Unicorn Model.
Optimal Trade Entry (OTE) Model
The image above shows an example of a long position being entered following a complete setup for the OTE model.
Price retraces either 0.62, 0.705, or 0.79 of an upside move and a trade is entered.
The profit target for this example trade is set at the -0.5 fib level. This is also adjustable in the settings.
For Longs, the selectable profit targets are:
Swing High
Fib -0.5
Fib -1
Fib -2
The image above shows the short version of the OTE Model in action!
For Shorts, the selectable profit targets are:
Swing Low
Fib -0.5
Fib -1
Fib -2
Liquidity Raid Model
The image above shows an example of a long position being entered following a complete setup for the Liquidity Raid Modell.
The user must define the session in the settings (for this example it is 13:30-16:00 NY time).
During the session, the indicator will calculate the session high and session low. Following a “raid” of either the session high or session low (after the session has completed) the script will look for an entry at a recently formed breaker block.
If the session high is raided the script will look for short entries at a bearish breaker block. If the session low is raided the script will look for long entries at a bullish breaker block.
For Longs, the profit target options are:
Swing high
User inputted Lib level
For Longs, the stop loss options are:
Swing low
User inputted Lib level
Breaker block bottom
The image above shows the short version of the Liquidity Raid Model in action!
For Shorts, the profit target options are:
Swing Low
User inputted Lib level
For Shorts, the stop loss options are:
Swing High
User inputted Lib level
Breaker block top
Silver Bullet Model
The image above shows an example of a long position being entered following a complete setup for the Silver Bullet Modell.
During the session, the indicator will determine the higher timeframe bias. If the higher timeframe bias is bullish the strategy will look to enter long at an FVG that forms during the session. If the higher timeframe bias is bearish the indicator will look to enter short at an FVG that forms during the session.
For Longs, the profit target options are:
Nearest Swing High Above Entry
Previous Day High
For Longs, the stop loss options are:
Nearest Swing Low
Previous Day Low
The image above shows the short version of the Silver Bullet Model in action!
For Shorts, the profit target options are:
Nearest Swing Low Below Entry
Previous Day Low
For Shorts, the stop loss options are:
Nearest Swing High
Previous Day High
Order blocks
The image above shows indicator identifying and labeling order blocks.
The color of the order blocks, and how many should be shown, are configurable in the settings!
Breaker Blocks
The image above shows indicator identifying and labeling order blocks.
The color of the breaker blocks, and how many should be shown, are configurable in the settings!
Rejection Blocks
The image above shows indicator identifying and labeling rejection blocks.
The color of the rejection blocks, and how many should be shown, are configurable in the settings!
Fair Value Gaps
The image above shows indicator identifying and labeling fair value gaps.
The color of the fair value gaps, and how many should be shown, are configurable in the settings!
Additionally, you can select to only show fair values gaps that form after a liquidity sweep. Doing so reduces "noisy" FVGs and focuses on identifying FVGs that form after a significant trading event.
The image above shows the feature enabled. A fair value gap that occurred after a liquidity sweep is shown.
Market Structure
The image above shows the ICT Master Suite calculating market structure shots and break of structures!
The color of MSS and BoS, and whether they should be displayed, are configurable in the settings.
Displacements
The images above show indicator identifying and labeling displacements.
The color of the displacements, and how many should be shown, are configurable in the settings!
Equal Price Points
The image above shows the indicator identifying and labeling equal highs and equal lows.
The color of the equal levels, and how many should be shown, are configurable in the settings!
Previous Custom TF High/Low
The image above shows the ICT Master Suite calculating the high and low price for a user-defined timeframe. In this case the previous day’s high and low are calculated.
To illustrate the customizable timeframe function, the image above shows the indicator calculating the previous 4 hour high and low.
Liquidity Sweeps
The image above shows the indicator identifying a liquidity sweep prior to an upside breakout.
The image above shows the indicator identifying a liquidity sweep prior to a downside breakout.
The color and aggressiveness of liquidity sweep identification are adjustable in the settings!
Power Of Three
The image above shows the indicator calculating Po3 for two user-defined higher timeframes!
Macros
The image above shows the ICT Master Suite identifying the ICT macros!
ICT Macros are only displayable on the 5 minute timeframe or less.
Strategy Performance Table
In addition to a full-fledged TradingView backtest for any of the ICT strategy models the indicator offers, a quick-and-easy strategy table exists for the indicator!
The image above shows the strategy performance table in action.
Keep in mind that, because the ICT Master Suite is a strategy script, you can perform fully automatic backtests, deep backtests, easily add commission and portfolio balance and look at pertinent metrics for the ICT strategies you are testing!
Lite Mode
Traders who want the cleanest chart possible can toggle on “Lite Mode”!
In Lite Mode, any neon or “glow” like effects are removed and key levels are marked as strict border boxes. You can also select to remove box borders if that’s what you prefer!
Settings Used For Backtest
For the displayed backtest, a starting balance of $1000 USD was used. A commission of 0.02%, slippage of 2 ticks, a verify price for limit orders of 2 ticks, and 5% of capital investment per order.
A commission of 0.02% was used due to the backtested asset being a perpetual future contract for a crypto currency. The highest commission (lowest-tier VIP) for maker orders on many exchanges is 0.02%. All entered positions take place as maker orders and so do profit target exits. Stop orders exist as stop-market orders.
A slippage of 2 ticks was used to simulate more realistic stop-market orders. A verify limit order settings of 2 ticks was also used. Even though BTCUSDT.P on Binance is liquid, we just want the backtest to be on the safe side. Additionally, the backtest traded 100+ trades over the period. The higher the sample size the better; however, this example test can serve as a starting point for traders interested in ICT concepts.
Community Assistance And Feedback
Given the complexity and idiosyncratic applications of ICT concepts amongst its proponents, the ICT Master Suite’s built-in strategies and level identification methods might not align with everyone's interpretation.
That said, the best we can do is precisely define ICT strategy rules and concepts to a repeatable process, test, and apply them! Whether or not an ICT strategy is trading precisely how you would trade it, seeing the model in action, taking trades, and with performance statistics is immensely helpful in assessing predictive utility.
If you think we missed something, you notice a bug, have an idea for strategy model improvement, please let us know! The ICT Master Suite is an ongoing project that will, ideally, be shaped by the community.
A big thank you to the @PineCoders for their Time Library!
Thank you!
Custom Candlestick Pattern IndicatorCustom Candlestick Pattern Indicator - Buy Signal Based on Green Candles Breaking Previous Lows
Overview:
This custom candlestick pattern indicator is designed to highlight potential buy opportunities based on a simple yet powerful candlestick pattern. The indicator identifies green candles that break below the low of the previous candle. This combination may signal a potential market reversal or a bullish continuation after a pullback, depending on the market context. Traders can use this indicator to detect areas where prices may be bouncing from recent lows, indicating a potential buying opportunity.
Pattern Explanation:
The strategy underlying this indicator is a two-part condition that must be met before a buy signal is generated:
Green Candle: A green candle forms when the closing price of the current candle is higher than its opening price. This visually represents bullish momentum as buyers have taken control, closing the price higher than where it opened.
Breaking the Previous Low: The low of the current candle must be lower than the low of the previous candle. This suggests that, despite initial bearish pressure during the candle formation (which drove the price below the previous candle's low), buyers stepped in to push the price higher by the candle’s close. This pattern can signify a potential reversal or bullish continuation, as it demonstrates that buyers are overcoming initial selling pressure.
When the Pattern Occurs:
This pattern is particularly interesting to traders who look for potential reversal signals after a brief decline in price.
It may also work well in markets where pullbacks are common, as this pattern could mark the end of a retracement and the resumption of the bullish trend.
How the Indicator Works:
Green Candle: The indicator first identifies a green candle, where the close of the candle is greater than its open (close > open). This signals that the current period closed higher than it opened, which is generally a bullish sign.
Breaking Previous Low: The indicator checks if the current candle's low is below the low of the previous candle (low < low ). If this condition is met, it means the price dropped below the previous candle's low but was still able to close higher (green candle), signaling a potential reversal or buying opportunity.
Buy Signal: If both conditions are true (green candle + breaking previous low), the indicator plots a buy signal below the candle in the form of an upward-facing triangle labeled "Buy" in green. This serves as a visual cue for traders to consider entering a buy position.
Optional Previous Low Plot: For added reference, the indicator plots the previous candle's low as a red step-line on the chart. This helps traders visualize when the price has dipped below the prior candle's low, making it easier to spot instances where the pattern is forming.
How to Use:
This indicator can be used across multiple timeframes, whether you’re trading short-term intraday patterns or longer-term swing trades.
It works well in markets that experience pullbacks or minor retracements, as the pattern it identifies suggests a rejection of lower prices followed by a push higher.
Traders can combine this indicator with other technical analysis tools (such as moving averages, support/resistance levels, or momentum oscillators) to strengthen the buy signals and add more context to the trading decision.
Example Scenarios:
Reversal Signal: Suppose a market has been in a minor downtrend, and suddenly a green candle forms after a low that breaks the previous day’s low. This indicator would generate a buy signal, suggesting the downtrend may be losing strength and that buyers are taking control. This could be an early indication of a reversal.
Bullish Continuation After Pullback: Imagine a market in a steady uptrend experiences a temporary pullback. The price breaks the previous candle’s low, but the current candle closes higher (green candle). This buy signal could indicate that the pullback is over, and the uptrend is likely to continue.
Advantages:
Simplicity: This indicator relies on basic price action (green candles and lows) without requiring complicated indicators or oscillators, making it easy to understand and use.
Visual Alerts: The plotted buy signals and previous lows provide a clear, visual representation on the chart, simplifying decision-making for traders.
Versatility: It can be applied across different timeframes and asset classes (stocks, forex, crypto, etc.), making it a versatile tool for all kinds of traders.
Limitations:
As with any single indicator or pattern, this should not be used in isolation. It is important to incorporate broader market context, support/resistance levels, and other forms of analysis to avoid false signals.
The pattern tends to be more effective when there’s sufficient market liquidity and may perform better in trending or volatile markets compared to sideways or flat markets.
Alligator + Fractals + Divergent & Squat Bars + Signal AlertsThe indicator includes Williams Alligator, Williams Fractals, Divergent Bars, Market Facilitation Index, Highest and Lowest Bars, maximum and minimum peak of Awesome Oscillator, and signal alerts based on Bill Williams' Profitunity strategy.
MFI and Awesome Oscillator
According to the Market Facilitation Index Oscillator, the Squat bar is colored blue, all other bars are colored according to the Awesome Oscillator color, except for the Fake bars, colored with a lighter AO color. In the indicator settings, you can enable the display of "Green" bars (in the "Green Bars > Show" field). In the indicator style settings, you can disable changing the color of bars in accordance with the AO color (in the "AO bars" field), including changing the color for Fake bars (in the "Fake AO bars" field).
MFI is calculated using the formula: (high - low) / volume.
A Squat bar means that, compared to the previous bar, its MFI has decreased and at the same time its volume has increased, i.e. MFI < previous bar and volume > previous bar. A sign of a possible price reversal, so this is a particularly important signal.
A Fake bar is the opposite of a Squat bar and means that, compared to the previous bar, its MFI has increased and at the same time its volume has decreased, i.e. MFI > previous bar and volume < previous bar.
A "Green" bar means that, compared to the previous bar, its MFI has increased and at the same time its volume has increased, i.e. MFI > previous bar and volume > previous bar. A sign of trend continuation. But a more significant trend confirmation or warning of a possible reversal is the Awesome Oscillator, which measures market momentum by calculating the difference between the 5 Period and 34 Period Simple Moving Averages (SMA 5 - SMA 34) based on the midpoints of the bars (hl2). Therefore, by default, the "Green" bars and their opposite "Fade" bars are colored according to the color of the Awesome Oscillator.
According to Bill Williams' Profitunity strategy, using the Awesome Oscillator, the third Elliott wave is determined by the maximum peak of AO in the range from 100 to 140 bars. The presence of divergence between the maximum AO peak and the subsequent lower AO peak in this interval also warns of a possible correction, especially if the AO crosses the zero line between these AO peaks. Therefore, the chart additionally displays the prices of the highest and lowest bars, as well as the maximum or minimum peak of AO in the interval of 140 bars from the last bar. In the indicator settings, you can hide labels, lines, change the number of bars and any parameters for the AO indicator - method (SMA, Smoothed SMA, EMA and others), length, source (open, high, low, close, hl2 and others).
Bullish Divergent bar
🟢 A buy signal (Long) is a Bullish Divergent bar with a green circle displayed above it if such a bar simultaneously meets all of the following conditions:
The high of the bar is below all lines of the Alligator indicator.
The closing price of the bar is above its middle, i.e. close > (high + low) / 2.
The low of the bar is below the low of 2 previous bars or below the low of one previous bar, and the low of the second previous bar is a lower fractal (▼). By default, Divergent bars are not displayed, the low of which is lower than the low of only one previous bar and the low of the 2nd previous bar is not a lower fractal (▼), but you can enable the display of any Divergent bars in the indicator settings (by setting the value "no" in the " field Divergent Bars > Filtration").
The following conditions strengthen the Bullish Divergent bar signal:
The opening price of the bar, as well as the closing price, is higher than its middle, i.e. Open > (high + low) / 2.
The high of the bar is below all lines of the open Alligator indicator, i.e. the green line (Lips) is below the red line (Teeth) and the red line is below the blue line (Jaw). In this case, the color of the circle above the Bullish Divergent bar is dark green.
Squat Divergent bar.
The bar following the Bullish Divergent bar corresponds to the green color of the Awesome Oscillator.
Divergence on Awesome Oscillator.
Formation of the lower fractal (▼), in which the low of the Divergent bar is the peak of the fractal.
Bearish Divergent bar
🔴 A signal to sell (Short) is a Bearish Divergent bar under which a red circle is displayed if such a bar simultaneously meets all the following conditions:
The low of the bar is above all lines of the Alligator indicator.
The closing price of the bar is below its middle, i.e. close < (high + low) / 2.
The high of the bar is higher than the high of 2 previous bars or higher than the high of one previous bar, and the high of the second previous bar is an upper fractal (▲). By default, Divergent bars are not displayed, the high of which is higher than the high of only one previous bar and the high of the 2nd previous bar is not an upper fractal (▲), but you can enable the display of any Divergent bars in the indicator settings (by setting the value "no" in the " field Divergent Bars > Filtration").
The following conditions strengthen the Bearish Divergent bar signal:
The opening price of the bar, as well as the closing price, is below its middle, i.e. open < (high + low) / 2.
The low of the bar is above all lines of the open Alligator indicator, i.e. the green line (Lips) is above the red line (Teeth) and the red line is above the blue line (Jaw). In this case, the color of the circle under the Bearish Divergent bar is dark red.
Squat Divergent bar.
The bar following the Bearish Divergent bar corresponds to the red color of the Awesome Oscillator.
Divergence on Awesome Oscillator.
Formation of the upper fractal (▲), in which the high of the Divergent bar is the peak of the fractal.
Alligator lines crossing
Bars crossing the green line (Lips) of the open Alligator indicator is the first warning of a possible correction (price rollback) if one of the following conditions is met:
If the bar closed below the Lips line, which is above the Teeth line, and the Teeth line is above the Jaw line, while the closing price of the previous bar is above the Lips line.
If the bar closed above the Lips line, which is below the Teeth line, and the Teeth line is below the Jaw line, while the closing price of the previous bar is below the Lips line.
The intersection of all open Alligator lines by bars is a sign of a deep correction and a warning of a possible trend change.
Frequent intersection of Alligator lines with each other is a sign of a sideways trend (flat).
Signal Alerts
To receive notifications about signals when creating an alert, you must select the condition "Any alert() function is call", in which case notifications will arrive in the following format:
D — timeframe, for example: D, 4H, 15m.
🟢 BDB⎾ - a signal for a Bullish Divergent bar to buy (Long), triggers once after the bar closes and includes additional signals:
/// — if Alligator is open.
⏉ — if the opening price of the bar, as well as the closing price, is above its middle.
+ Squat 🔷 - Squat bar or + Green ↑ - "Green" bar or + Fake ↓ - Fake bar.
+ AO 🟩 - if after the Divergent bar closes, the oscillator color change for the next bar corresponds the green color of the Awesome Oscillator. ┴/┬ — AO above/below the zero line. ∇ — if there is divergence on AO in the interval of 140 bars from the last bar.
🔴 BDB⎿ - a signal for a Bearish Divergent bar to sell (Short), triggers once after the bar closes and includes additional signals:
/// — if Alligator is open.
⏊ — if the opening price of the bar, as well as the closing price, is below its middle.
+ Squat 🔷 - Squat bar or + Green ↑ - "Green" bar or + Fake ↓ - Fake bar.
+ AO 🟥 - if after the Divergent bar closes, the oscillator color change for the next bar corresponds to the red color of the Awesome Oscillator. ┴/┬ — AO above/below the zero line. ∇ — if there is divergence on AO in the interval of 140 bars from the last bar.
Alert for bars crossing the green line (Lips) of the open Alligator indicator (can be disabled in the indicator settings in the "Alligator > Enable crossing lips alerts" field):
🔴 Crossing Lips ↓ - if the bar closed below the Lips line, which is above than the other lines, while the closing price of the previous bar is above the Lips line.
🟢 Crossing Lips ↑ - if the bar closed above the Lips line, which is below the other lines, while the closing price of the previous bar is below the Lips line.
The fractal signal is triggered after the second bar closes, completing the formation of the fractal, if alerts about fractals are enabled in the indicator settings (the "Fractals > Enable alerts" field):
🟢 Fractal ▲ - upper (Bearish) fractal.
🔴 Fractal ▼ — lower (Bullish) fractal.
⚪️ Fractal ▲/▼ - both upper and lower fractal.
↳ (H=high - L=low) = difference.
If you redirect notifications to a webhook URL, for example, to a Telegram bot, then you need to set the notification template for the webhook in the indicator settings in the "Webhook > Message" field (contains a tooltip with an example), in which you just need to specify the text {{message}}, which will be automatically replaced with the alert text with a ticker and a link to TradingView.
‼️ A signal is not a call to action, but only a reason to analyze the chart to make a decision based on the rules of your strategy.
***
Индикатор включает в себя Williams Alligator, Williams Fractals, Дивергентные бары, Market Facilitation Index, самый высокий и самый низкий бары, максимальный и минимальный пик Awesome Oscillator, а также оповещения о сигналах на основе стратегии Profitunity Билла Вильямса.
MFI и Awesome Oscillator
В соответствии с осциллятором Market Facilitation Index Приседающий бар окрашен в синий цвет, все остальные бары окрашены в соответствии с цветом Awesome Oscillator, кроме Фальшивых баров, которые окрашены более светлым цветом AO. В настройках индикатора вы можете включить отображение "Зеленых" баров (в поле "Green Bars > Show"). В настройках стиля индикатора вы можете выключить изменение цвета баров в соответствии с цветом AO (в поле "AO bars"), в том числе изменить цвет для Фальшивых баров (в поле "Fake AO bars").
MFI рассчитывается по формуле: (high - low) / volume.
Приседающий бар означает, что по сравнению с предыдущим баром его MFI снизился и в тоже время вырос его объем, т.е. MFI < предыдущего бара и объем > предыдущего бара. Признак возможного разворота цены, поэтому это особенно важный сигнал.
Фальшивый бар является противоположностью Приседающему бару и означает, что по сравнению с предыдущим баром его MFI увеличился и в тоже время снизился его объем, т.е. MFI > предыдущего бара и объем < предыдущего бара.
"Зеленый" бар означает, что по сравнению с предыдущим баром его MFI увеличился и в тоже время вырос его объем, т.е. MFI > предыдущего бара и объем > предыдущего бара. Признак продолжения тренда. Но более значимым подтверждением тренда или предупреждением о возможном развороте является Awesome Oscillator, который измеряет движущую силу рынка путем вычисления разницы между 5 Периодной и 34 Периодной Простыми Скользящими Средними (SMA 5 - SMA 34) по средним точкам баров (hl2). Поэтому по умолчанию "Зеленые" бары и противоположные им "Увядающие" бары окрашены в соответствии с цветом Awesome Oscillator.
По стратегии Profitunity Билла Вильямса с помощью осциллятора Awesome Oscillator определяется третья волна Эллиота по максимальному пику AO в интервале от 100 до 140 баров. Наличие дивергенции между максимальным пиком AO и следующим за ним более низким пиком AO в этом интервале также предупреждает о возможной коррекции, особенно если AO переходит через нулевую линию между этими пиками AO. Поэтому на графике дополнительно отображаются цены самого высокого и самого низкого баров, а также максимальный или минимальный пик АО в интервале 140 баров от последнего бара. В настройках индикатора вы можете скрыть метки, линии, изменить количество баров и любые параметры для индикатора AO – метод (SMA, Smoothed SMA, EMA и другие), длину, источник (open, high, low, close, hl2 и другие).
Бычий Дивергентный бар
🟢 Сигналом на покупку (Long) является Бычий Дивергентный бар над которым отображается зеленый круг, если такой бар соответствует одновременно всем следующим условиям:
Максимум бара ниже всех линий индикатора Alligator.
Цена закрытия бара выше его середины, т.е. close > (high + low) / 2.
Минимум бара ниже минимума 2-х предыдущих баров или ниже минимума одного предыдущего бара, а минимум второго предыдущего бара является нижним фракталом (▼). По умолчанию не отображаются Дивергентные бары, минимум которых ниже минимума только одного предыдущего бара и минимум 2-го предыдущего бара не является нижним фракталом (▼), но вы можете включить отображение любых Дивергентных баров в настройках индикатора (установив значение "no" в поле "Divergent Bars > Filtration").
Усилением сигнала Бычьего Дивергентного бара являются следующие условия:
Цена открытия бара, как и цена закрытия, выше его середины, т.е. Open > (high + low) / 2.
Максимум бара ниже всех линий открытого индикатора Alligator, т.е. зеленая линия (Lips) ниже красной линии (Teeth) и красная линия ниже синей линии (Jaw). В этом случае цвет круга над Бычьим Дивергентным баром окрашен в темно-зеленый цвет.
Приседающий Дивергентный бар.
Бар, следующий за Бычьим Дивергентным баром, соответствует зеленому цвету Awesome Oscillator.
Дивергенция на Awesome Oscillator.
Образование нижнего фрактала (▼), у которого минимум Дивергентного бара является пиком фрактала.
Медвежий Дивергентный бар
🔴 Сигналом на продажу (Short) является Медвежий Дивергентный бар под которым отображается красный круг, если такой бар соответствует одновременно всем следующим условиям:
Минимум бара выше всех линий индикатора Alligator.
Цена закрытия бара ниже его середины, т.е. close < (high + low) / 2.
Максимум бара выше маскимума 2-х предыдущих баров или выше максимума одного предыдущего бара, а максимум второго предыдущего бара является верхним фракталом (▲). По умолчанию не отображаются Дивергентные бары, максимум которых выше максимума только одного предыдущего бара и максимум 2-го предыдущего бара не является верхним фракталом (▲), но вы можете включить отображение любых Дивергентных баров в настройках индикатора (установив значение "no" в поле "Divergent Bars > Filtration").
Усилением сигнала Медвежьего Дивергентного бара являются следующие условия:
Цена открытия бара, как и цена закрытия, ниже его середины, т.е. open < (high + low) / 2.
Минимум бара выше всех линий открытого индикатора Alligator, т.е. зеленая линия (Lips) выше красной линии (Teeth) и красная линия выше синей линии (Jaw). В этом случае цвет круга под Медвежьим Дивергентным Баром окрашен в темно-красный цвет.
Приседающий Дивергентный бар.
Бар, следующий за Медвежьим Дивергентным баром, соответствует красному цвету Awesome Oscillator.
Дивергенция на Awesome Oscillator.
Образование верхнего фрактала (▲), у которого максимум Дивергентного бара является пиком фрактала.
Пересечение линий Alligator
Пересечение барами зеленой линии (Lips) открытого индикатора Alligator является первым предупреждением о возможной коррекции (откате цены) при выполнении одного из следующих условий:
Если бар закрылся ниже линии Lips, которая выше линии Teeth, а линия Teeth выше линии Jaw, при этом цена закрытия предыдущего бара находится выше линии Lips.
Если бар закрылся выше линии Lips, которая ниже линии Teeth, а линия Teeth ниже линии Jaw, при этом цена закрытия предыдущего бара находится ниже линии Lips.
Пересечение барами всех линий открытого Alligator является признаком глубокой коррекции и предупреждением о возможной смене тренда.
Частое пересечение линий Alligator между собой является признаком бокового тренда (флэт).
Оповещения о сигналах
Для получения уведомлений о сигналах при создании оповещения необходимо выбрать условие "При любом вызове функции alert()", в таком случае уведомления будут приходить в следующем формате:
D — таймфрейм, например: D, 4H, 15m.
🟢 BDB⎾ — сигнал Бычьего Дивергентного бара на покупку (Long), срабатывает один раз после закрытия бара и включает дополнительные сигналы:
/// — если Alligator открыт.
⏉ — если цена открытия бара, как и цена закрытия, выше его середины.
+ Squat 🔷 — Приседающий бар или + Green ↑ — "Зеленый" бар или + Fake ↓ — Фальшивый бар.
+ AO 🟩 — если после закрытия Дивергентного бара, изменение цвета осциллятора для следующего бара соответствует зеленому цвету Awesome Oscillator. ┴/┬ — AO выше/ниже нулевой линии. ∇ — если есть дивергенция на AO в интервале 140 баров от последнего бара.
🔴 BDB⎿ — сигнал Медвежьего Дивергентного бара на продажу (Short), срабатывает один раз после закрытия бара и включает дополнительные сигналы:
/// — если Alligator открыт.
⏊ — если цена открытия бара, как и цена закрытия, ниже его середины.
+ Squat 🔷 — Приседающий бар или + Green ↑ — "Зеленый" бар или + Fake ↓ — Фальшивый бар.
+ AO 🟥 — если после закрытия Дивергентного бара, изменение цвета осциллятора для следующего бара соответствует красному цвету Awesome Oscillator. ┴/┬ — AO выше/ниже нулевой линии. ∇ — если есть дивергенция на AO в интервале 140 баров от последнего бара.
Сигнал пересечения барами зеленой линии (Lips) открытого индикатора Alligator (можно отключить в настройках индикатора в поле "Alligator > Enable crossing lips alerts"):
🔴 Crossing Lips ↓ — если бар закрылся ниже линии Lips, которая выше остальных линий, при этом цена закрытия предыдущего бара находится выше линии Lips.
🟢 Crossing Lips ↑ — если бар закрылся выше линии Lips, которая ниже остальных линий, при этом цена закрытия предыдущего бара находится ниже линии Lips.
Сигнал фрактала срабатывает после закрытия второго бара, завершающего формирование фрактала, если оповещения о фракталах включены в настройках индикатора (поле "Fractals > Enable alerts"):
🟢 Fractal ▲ — верхний (Медвежий) фрактал.
🔴 Fractal ▼ — нижний (Бычий) фрактал.
⚪️ Fractal ▲/▼ — одновременно верхний и нижний фрактал.
↳ (H=high - L=low) = разница.
Если вы перенаправляете оповещения на URL вебхука, например, в бота Telegram, то вам необходимо установить шаблон оповещения для вебхука в настройках индикатора в поле "Webhook > Message" (содержит подсказку с примером), в котором в качестве текста сообщения достаточно указать текст {{message}}, который будет автоматически заменен на текст оповещения с тикером и ссылкой на TradingView.
‼️ Сигнал — это не призыв к действию, а лишь повод проанализировать график для принятия решения на основе правил вашей стратегии.
YD_Divergence_RSI+CMFThe ‘YD_Divergence_RSI+CMF’ indicator can find divergence using RSI (Relative Strength Index) and CMF (Chaikin Money Flow) indicators.
📌 Key functions
1. Search pivot high and pivot low points in a certain length of price.
2. Connect pivot high to pivot high , pivot low to pivot low , forming two standards for divergence in result.
The marker then plots only the higher high, lower low lines.
(higher low and lower high in prices are referred to hidden divergence, which are not considered in this indicator)
3. Compare the two standards with RSI and CMF indicators, send an alert if there is a divergence. As a result, the indicator will find four combination of divergence.
A. Higher high price / Lower RSI (Bearish RSI Divergence)
B. Lower low price / Higher RSI (Bullish RSI Divergence)
C. Higher high price / Lower CMF (Bearish CMF Divergence)
D. Lower low price / Higher CMF (Bullish CMF Divergence)
📌 Details
Developing the indicators, we put a lot of effort in making a customizable and user-friendly interface.
#1. Pivot Setting
Users can set the length to find the pivot high / pivot low in ‘Pivot Settings – Pivot Length.’
Increased pivot Length takes more candles to interpret the chart but reduce false signals since the it uses only the most certain pivot high / pivot low values. Obviously, decreased pivot length will act the opposite.
Users can choose whether to use ‘High/Low’ or ‘Close’ in ‘Pivot Reference’ to set the swing point of prices.
Users can also choose whether to display the pivot high / pivot low marker on the chart.
#2 RSI & CMF Settings
Users can adjust the length of RSI & CMF separately. (The default values are set to 14 and 20 each.)
#3 Label Setting
Users can adjust the text displayed on the chart label. (The default values is set to ‘Bullish / Bearish’, ‘RSI/CMF’, ‘Divergence’.)
Users can reduce the length of text label or simply turn the label off. Just click the ‘Bull/Bear’ or ‘None’ button. ‘Divergence’ works the same.
Users can decide whether to display the ‘Divergence Line and Label’, set custom settings for the label and line. (color, thickness, style, etc)
📌 Alert
Alert are provided as a combination of the chart's symbol and the set label text. For example,
‘BINANCE:BTCUSDT.P, Bullish RSI Divergence’
====================================================
"YD_Divergence_RSI+CMF" 지표 는 RSI와 CMF 지표를 이용해서 Divergence 를 찾아낼 수 있습니다.
📌 주요 기능
1. 정해진 가격 움직임 안에서 pivot high와 pivot low 포인트 를 찾아냅니다.
2. Pivot high로만 이어진 라인과, Pivot low로만 이어진 두 라인을 작도한 뒤 divergence의 기준으로 삼습니다.
이 지표에서는 normal divergence만 사용하기 때문에 차트에 higher high와 lower low만 표기 합니다.
(higher low와 lower high는 hidden divergence로 정의되며, 이 지표에서는 다루지 않습니다.
3. 두 기준선과 RSI, CMF 지표를 각각 비교하고, 결과적으로 4개의 조합을 구할 수 있습니다.
A. Higher high price / Lower RSI (Bearish RSI Divergence)
B. Lower low price / Higher RSI (Bullish RSI Divergence)
C. Higher high price / Lower CMF (Bearish CMF Divergence)
D. Lower low price / Higher CMF (Bullish CMF Divergence)
📌 세부 사항
지표를 개발하며 사용자들이 원하는 방향으로 지표를 설정할 수 있게 작업에 많은 공을 들였습니다. 굉장히 다양한 옵션을 선택할 수 있으며, 원하는 방식으로 지표를 사용할 수 있습니다.
#1 Pivot Setting
Pivot setting에서는 Pivot Length를 변경할 수 있습니다.
Pivot Length를 늘릴 경우, 보다 확실한 Swing High와 Swing Low만을 사용하게 되므로, False signal이 줄어들 수 있습니다. 하지만 Swing High/ Low를 판정하는 데에 더 긴 시간이 걸리게 되므로, Signal이 다소 늦게 발생하는 단점이 생기게 됩니다.
Pivot Length를 줄일 경우, 반대로 Swing High/Low의 판정이 더 빨리 일어나기 때문에, Signal을 거래에 이용하기는 좋을 수 있습니다. 다만, Swing High와 Low가 훨씬 더 잦은 빈도로 발생하기 때문에 False Signal을 줄 가능성이 높아집니다.
Pivot Reference에서는 가격의 Swing Point를 설정함에 있어, High/Low(고가/저가)를 이용할 지 Close (종가)를 이용할 지 선택할 수 있습니다.
Pivot High/Low Marker를 선택할 경우 Pivot High/ Low에 Marker가 찍히게 됩니다.
#2 RSI와 CMF Setting
RSI와 CMF Setting에서는 RSI와 CMF의 길이를 각각 설정할 수 있습니다. 기본값은 14와 20으로 설정되어 있습니다.
#3 Label Setting
Label Setting에서는 Label에 표시되는 글자를 선택할 수 있습니다.
기본값은 "Bullish / Bearish", "RSI/CMF", "Divergence"로 선택되어 있으며, 너무 길다고 느껴질 경우 "Bull/Bear" 혹은 "None"을 클릭하여 길이를 줄일 수 있습니다. 마찬가지로 Divergence의 경우도 생략이 가능합니다.
하단에서는 Divergence Line과 Label을 켜고 끌 수 있으며, 선의 색깔, 굵기, 종류, 그리고 Label의 색깔, 크기, 종류를 선택할 수 있습니다. Label의 Text 색 역시 변경이 가능합니다.
📌 얼러트
얼러트는 자신이 설정한 차트의 심볼과 Label의 문구의 조합으로 제공되며 예를 들면 다음과 같습니다.
"BINANCE:BTCUSDT.P, Bullish RSI Divergence"
Parallel Projections [theEccentricTrader]█ OVERVIEW
This indicator automatically projects parallel trendlines or channels, from a single point of origin. In the example above I have applied the indicator twice to the 1D SPXUSD. The five upper lines (green) are projected at an angle of -5 from the 1-month swing high anchor point with a projection ratio of -72. And the seven lower lines (blue) are projected at an angle of 10 with a projection ratio of 36 from the 1-week swing low anchor point.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a high price equal to or above the price it opened.
• A red candle is one that closes with a low price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Trendlines
Trendlines are straight lines that are drawn between two or more points on a price chart. These lines are used as dynamic support and resistance levels for making strategic decisions and predictions about future price movements. For example traders will look for price movements along, and reactions to, trendlines in the form of rejections or breakouts/downs.
█ FEATURES
Inputs
• Anchor Point Type
• Swing High/Low Occurrence
• HTF Resolution
• Highest High/Lowest Low Lookback
• Angle Degree
• Projection Ratio
• Number Lines
• Line Color
Anchor Point Types
• Swing High
• Swing Low
• Swing High (HTF)
• Swing Low (HTF)
• Highest High
• Lowest Low
• Intraday Highest High (intraday charts only)
• Intraday Lowest Low (intraday charts only)
Swing High/Swing Low Occurrence
This input is used to determine which historic peak or trough to reference for swing high or swing low anchor point types.
HTF Resolution
This input is used to determine which higher timeframe to reference for swing high (HTF) or swing low (HTF) anchor point types.
Highest High/Lowest Low Lookback
This input is used to determine the lookback length for highest high or lowest low anchor point types.
Intraday Highest High/Lowest Low Lookback
When using intraday highest high or lowest low anchor point types, the lookback length is calculated automatically based on number of bars since the daily candle opened.
Angle Degree
This input is used to determine the angle of the trendlines. The output is expressed in terms of point or pips, depending on the symbol type, which is then passed through the built in math.todegrees() function. Positive numbers will project the lines upwards while negative numbers will project the lines downwards. Depending on the market and timeframe, the impact input values will have on the visible gaps between the lines will vary greatly. For example, an input of 10 will have a far greater impact on the gaps between the lines when viewed from the 1-minute timeframe than it would on the 1-day timeframe. The input is a float and as such the value passed through can go into as many decimal places as the user requires.
It is also worth mentioning that as more lines are added the gaps between the lines, that are closest to the anchor point, will get tighter as they make their way up the y-axis. Although the gaps between the lines will stay constant at the x2 plot, i.e. a distance of 10 points between them, they will gradually get tighter and tighter at the point of origin as the slope of the lines get steeper.
Projection Ratio
This input is used to determine the distance between the parallels, expressed in terms of point or pips. Positive numbers will project the lines upwards while negative numbers will project the lines downwards. Depending on the market and timeframe, the impact input values will have on the visible gaps between the lines will vary greatly. For example, an input of 10 will have a far greater impact on the gaps between the lines when viewed from the 1-minute timeframe than it would on the 1-day timeframe. The input is a float and as such the value passed through can go into as many decimal places as the user requires.
Number Lines
This input is used to determine the number of lines to be drawn on the chart, maximum is 500.
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
If the lines do not draw or you see a study error saying that the script references too many candles in history, this is most likely because the higher timeframe anchor point is not present on the current timeframe. This problem usually occurs when referencing a higher timeframe, such as the 1-month, from a much lower timeframe, such as the 1-minute. How far you can lookback for higher timeframe anchor points on the current timeframe will also be limited by your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000.
█ RAMBLINGS
It is my current thesis that the indicator will work best when used in conjunction with my Wavemeter indicator, which can be used to set the angle and projection ratio. For example, the average wave height or amplitude could be used as the value for the angle and projection ratio inputs. Or some factor or multiple of such an average. I think this makes sense as it allows for objectivity when applying the indicator across different markets and timeframes with different energies and vibrations.
“If you want to find the secrets of the universe, think in terms of energy, frequency and vibration.”
― Nikola Tesla
Fan Projections [theEccentricTrader]█ OVERVIEW
This indicator automatically projects trendlines in the shape of a fan, from a single point of origin. In the example above I have applied the indicator twice to the 1D SPXUSD. The seven upper lines (green) are projected at an angle of -5 from the 1-month swing high anchor point. And the five lower lines (blue) are projected at an angle of 10 from the 1-week swing low anchor point.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a high price equal to or above the price it opened.
• A red candle is one that closes with a low price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Trendlines
Trendlines are straight lines that are drawn between two or more points on a price chart. These lines are used as dynamic support and resistance levels for making strategic decisions and predictions about future price movements. For example traders will look for price movements along, and reactions to, trendlines in the form of rejections or breakouts/downs.
█ FEATURES
Inputs
• Anchor Point Type
• Swing High/Low Occurrence
• HTF Resolution
• Highest High/Lowest Low Lookback
• Angle Degree
• Number Lines
• Line Color
Anchor Point Types
• Swing High
• Swing Low
• Swing High (HTF)
• Swing Low (HTF)
• Highest High
• Lowest Low
• Intraday Highest High (intraday charts only)
• Intraday Lowest Low (intraday charts only)
Swing High/Swing Low Occurrence
This input is used to determine which historic peak or trough to reference for swing high or swing low anchor point types.
HTF Resolution
This input is used to determine which higher timeframe to reference for swing high (HTF) or swing low (HTF) anchor point types.
Highest High/Lowest Low Lookback
This input is used to determine the lookback length for highest high or lowest low anchor point types.
Intraday Highest High/Lowest Low Lookback
When using intraday highest high or lowest low anchor point types, the lookback length is calculated automatically based on number of bars since the daily candle opened.
Angle Degree
This input is used to determine the angle of the trendlines. The output is expressed in terms of point or pips, depending on the symbol type, which is then passed through the built in math.todegrees() function. Positive numbers will project the lines upwards while negative numbers will project the lines downwards. Depending on the market and timeframe, the impact input values will have on the visible gaps between the lines will vary greatly. For example, an input of 10 will have a far greater impact on the gaps between the lines when viewed from the 1-minute timeframe than it would on the 1-day timeframe. The input is a float and as such the value passed through can go into as many decimal places as the user requires.
It is also worth mentioning that as more lines are added the gaps between the lines, that are closest to the anchor point, will get tighter as they make their way up the y-axis. Although the gaps between the lines will stay constant at the x2 plot, i.e. a distance of 10 points between them, they will gradually get tighter and tighter at the point of origin as the slope of the lines get steeper.
Number Lines
This input is used to determine the number of lines to be drawn on the chart, maximum is 500.
█ LIMITATIONS
All green and red candle calculations are based on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. This may cause some unexpected behaviour on some markets and timeframes. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with.
If the lines do not draw or you see a study error saying that the script references too many candles in history, this is most likely because the higher timeframe anchor point is not present on the current timeframe. This problem usually occurs when referencing a higher timeframe, such as the 1-month, from a much lower timeframe, such as the 1-minute. How far you can lookback for higher timeframe anchor points on the current timeframe will also be limited by your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000.
█ RAMBLINGS
It is my current thesis that the indicator will work best when used in conjunction with my Wavemeter indicator, which can be used to set the angle. For example, the average wave height or amplitude could be used as the value for the angle input. Or some factor or multiple of such an average. I think this makes sense as it allows for objectivity when applying the indicator across different markets and timeframes with different energies and vibrations.
“If you want to find the secrets of the universe, think in terms of energy, frequency and vibration.”
― Nikola Tesla
Swing Counter [theEccentricTrader]█ OVERVIEW
This indicator counts the number of confirmed swing high and swing low scenarios on any given candlestick chart and displays the statistics in a table, which can be repositioned and resized at the user's discretion.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a high price equal to or above the price it opened.
• A red candle is one that closes with a low price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Peak and Trough Prices (Advanced)
• The advanced peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the highest preceding green candle high price, depending on which is higher.
• The advanced trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the lowest preceding red candle low price, depending on which is lower.
Green and Red Peaks and Troughs
• A green peak is one that derives its price from the green candle/s that constitute the swing high.
• A red peak is one that derives its price from the red candle that completes the swing high.
• A green trough is one that derives its price from the green candle that completes the swing low.
• A red trough is one that derives its price from the red candle/s that constitute the swing low.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Upper Trends
• A return line uptrend is formed when the current peak price is higher than the preceding peak price.
• A downtrend is formed when the current peak price is lower than the preceding peak price.
• A double-top is formed when the current peak price is equal to the preceding peak price.
Lower Trends
• An uptrend is formed when the current trough price is higher than the preceding trough price.
• A return line downtrend is formed when the current trough price is lower than the preceding trough price.
• A double-bottom is formed when the current trough price is equal to the preceding trough price.
█ FEATURES
Inputs
• Start Date
• End Date
• Position
• Text Size
• Show Sample Period
• Show Plots
• Show Lines
Table
The table is colour coded, consists of three columns and nine rows. Blue cells denote neutral scenarios, green cells denote return line uptrend and uptrend scenarios, and red cells denote downtrend and return line downtrend scenarios.
The swing scenarios are listed in the first column with their corresponding total counts to the right, in the second column. The last row in column one, row nine, displays the sample period which can be adjusted or hidden via indicator settings.
Rows three and four in the third column of the table display the total higher peaks and higher troughs as percentages of total peaks and troughs, respectively. Rows five and six in the third column display the total lower peaks and lower troughs as percentages of total peaks and troughs, respectively. And rows seven and eight display the total double-top peaks and double-bottom troughs as percentages of total peaks and troughs, respectively.
Plots
I have added plots as a visual aid to the swing scenarios listed in the table. Green up-arrows with ‘HP’ denote higher peaks, while green up-arrows with ‘HT’ denote higher troughs. Red down-arrows with ‘LP’ denote higher peaks, while red down-arrows with ‘LT’ denote lower troughs. Similarly, blue diamonds with ‘DT’ denote double-top peaks and blue diamonds with ‘DB’ denote double-bottom troughs. These plots can be hidden via indicator settings.
Lines
I have also added green and red trendlines as a further visual aid to the swing scenarios listed in the table. Green lines denote return line uptrends (higher peaks) and uptrends (higher troughs), while red lines denote downtrends (lower peaks) and return line downtrends (lower troughs). These lines can be hidden via indicator settings.
█ HOW TO USE
This indicator is intended for research purposes and strategy development. I hope it will be useful in helping to gain a better understanding of the underlying dynamics at play on any given market and timeframe. It can, for example, give you an idea of any inherent biases such as a greater proportion of higher peaks to lower peaks. Or a greater proportion of higher troughs to lower troughs. Such information can be very useful when conducting top down analysis across multiple timeframes, or considering entry and exit methods.
What I find most fascinating about this logic, is that the number of swing highs and swing lows will always find equilibrium on each new complete wave cycle. If for example the chart begins with a swing high and ends with a swing low there will be an equal number of swing highs to swing lows. If the chart starts with a swing high and ends with a swing high there will be a difference of one between the two total values until another swing low is formed to complete the wave cycle sequence that began at start of the chart. Almost as if it was a fundamental truth of price action, although quite common sensical in many respects. As they say, what goes up must come down.
The objective logic for swing highs and swing lows I hope will form somewhat of a foundational building block for traders, researchers and developers alike. Not only does it facilitate the objective study of swing highs and swing lows it also facilitates that of ranges, trends, double trends, multi-part trends and patterns. The logic can also be used for objective anchor points. Concepts I will introduce and develop further in future publications.
█ LIMITATIONS
Some higher timeframe candles on tickers with larger lookbacks such as the DXY , do not actually contain all the open, high, low and close (OHLC) data at the beginning of the chart. Instead, they use the close price for open, high and low prices. So, while we can determine whether the close price is higher or lower than the preceding close price, there is no way of knowing what actually happened intra-bar for these candles. And by default candles that close at the same price as the open price, will be counted as green. You can avoid this problem by utilising the sample period filter.
The green and red candle calculations are based solely on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with. Alternatively, you can replace the scenarios with your own logic to account for the gap anomalies, if you are feeling up to the challenge.
The sample size will be limited to your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000. If upgrading is currently not an option, you can always keep a rolling tally of the statistics in an excel spreadsheet or something of the like.
█ NOTES
I feel it important to address the mention of advanced peak and trough price logic. While I have introduced the concept, I have not included the logic in my script for a number of reasons. The most pertinent of which being the amount of extra work I would have to do to include it in a public release versus the actual difference it would make to the statistics. Based on my experience, there are actually only a small number of cases where the advanced peak and trough prices are different from the basic peak and trough prices. And with adequate multi-timeframe analysis any high or low prices that are not captured using basic peak and trough price logic on any given time frame, will no doubt be captured on a higher timeframe. See the example below on the 1H FOREXCOM:USDJPY chart (Figure 1), where the basic peak price logic denoted by the indicator plot does not capture what would be the advanced peak price, but on the 2H FOREXCOM:USDJPY chart (Figure 2), the basic peak logic does capture the advanced peak price from the 1H timeframe.
Figure 1.
Figure 2.
█ RAMBLINGS
“Never was there an age that placed economic interests higher than does our own. Never was the need of a scientific foundation for economic affairs felt more generally or more acutely. And never was the ability of practical men to utilize the achievements of science, in all fields of human activity, greater than in our day. If practical men, therefore, rely wholly on their own experience, and disregard our science in its present state of development, it cannot be due to a lack of serious interest or ability on their part. Nor can their disregard be the result of a haughty rejection of the deeper insight a true science would give into the circumstances and relationships determining the outcome of their activity. The cause of such remarkable indifference must not be sought elsewhere than in the present state of our science itself, in the sterility of all past endeavours to find its empirical foundations.” (Menger, 1871, p.45).
█ BIBLIOGRAPHY
Menger, C. (1871) Principles of Economics. Reprint, Auburn, Alabama: Ludwig Von Mises Institute: 2007.
Failed Breakdown Detection'Failed Breakdowns' are a popular set up for long entries.
In short, the set up requires:
1) A significant low is made ('initial low')
2) Initial low is undercut with a new low
3) Price action then 'reclaims' the initial low by moving +8-10 points from the initial low
This script aims at detecting such set ups. It was coded with the ES Futures 15 minute chart in mind but may be useful on other instruments and time frames.
Business Logic:
1) Uses pivot lows to detect 'significant' initial lows
2) Uses amplitude threshold to detect a new low beneath the initial low; used /u/ben_zen script for this
3) Looks for a valid reclaim - a green candle that occurs within 10 bars of the new low
4) Price must reclaim at least 8 points for the set up to be valid
5) If a signal is detected, the initial low value (pivot low) is stored in array that prevents duplicate signals from being generated.
6) FBD Signal is plotted on the chart with "X"
7) Pivot low detection is plotted on the chart with "P" and a label
8) New lows are plotted on the chart with a blue triangle
Notes:
User input
- My preference is to use the defaults as is, but as always feel free to experiment
- Can modify pivot length but in my experience 10/10 work best for pivot lows
- New low detection - 55 bars and 0.05 amplitude work well based on visual checks of signals
- Can modify the number of points needed to reclaim a low, and the # of bars limit under which this must occur.
Alerts:
- Alerts are available for detection of new lows and detection of failed breakdowns
- Alerts are also available for these signals but only during 7:30PM-4PM EST - 'prime time' US trading hours
Limitations:
- Current version of the script only compares new lows to the most recent pivot low, does not look at anything prior to that
- Best used as a discretionary signal
Visit /u/ben_zen's Profile:
www.tradingview.com
Profile Link www.tradingview.com
Price Displacement - Candlestick (OHLC) CalculationsA Magical little helper friend for Candle Math.
When composing scripts, it is often necessary to manipulate the math around the OHLC. At times, you want a scalar (absolute) value others you want a vector (+/-). Sometimes you want the open - close and sometimes you want just the positive number of the body size. You might want it in ticks or you might want it in points or you might want in percentages. And every time you try to put it together you waste precious time and brain power trying to think about how to properly structure what you're looking for. Not to mention it's normally not that aesthetically pleasing to look at in the code.
So, this fixes all of that.
Using this library. A function like 'pd.pt(_exp)' can call any kind of candlestick math you need. The function returns the candlestick math you define using particular expressions.
Candle Math Functions Include:
Points:
pt(_exp) Absolute Point Displacement. Point quantity of given size parameters according to _exp.
vpt(_exp) Vector Point Displacement. Point quantity of given size parameters according to _exp.
Ticks:
tick(_exp) Absolute Tick Displacement. Tick quantity of given size parameters according to _exp.
vtick(_exp) Vector Tick Displacement. Tick quantity of given size parameters according to _exp.
Percentages:
pct(_exp, _prec) Absolute Percent Displacement. (w/rounding overload). Percent quantity of bar range of given size parameters according to _exp.
vpct(_exp, _prec) Vector Percent Displacement (w/rounding overload). Percent quantity of bar range of given size parameters according to _exp.
Expressions You Can Use with Formulas:
The expressions are simple (simple strings that is) and I did my best to make them sensible, generally using just the ohlc abreviations. I also included uw, lw, bd, and rg for when you're just trying to pull a candle component out. That way you don't have to think about which of the ohlc you're trying to get just use pd.tick("uw") and now the variable is assigned the length of the upper wick, absolute value, in ticks. If you wanted the vector in pts its pd.vpt("uw"). It also makes changing things easy too as I write it out.
Expression List:
Combinations
"oh" = open - high
"ol" = open - low
"oc" = open - close
"ho" = high - open
"hl" = high - low
"hc" = high - close
"lo" = low - open
"lh" = low - high
"lc" = low - close
"co" = close - open
"ch" = close - high
"cl" = close - low
Candle Components
"uw" = Upper Wick
"bd" = Body
"lw" = Lower Wick
"rg" = Range
Pct() Only
"scp" = Scalar Close Position
"sop" = Scalar Open Position
"vcp" = Vector Close Position
"vop" = Vector Open Position
The attributes are going to be available in the pop up dialogue when you mouse over the function, so you don't really have to remember them. I tried to make that look as efficient as possible. You'll notice it follows the OHLC pattern. Thus, "oh" precedes "ho" (heyo) because "O" would be first in the OHLC. Its a way to help find the expression you're looking for quickly. Like looking through an alphabetized list for traders.
There is a copy/paste console friendly helper list in the script itself.
Additional Notes on the Pct() Only functions:
This is the original reason I started writing this. These concepts place a rating/value on the bar based on candle attributes in one number. These formulas put a open or close value in a percentile of the bar relative to another aspect of the bar.
Scalar - Non-directional. Absolute Value.
Scalar Position: The position of the price attribute relative to the scale of the bar range (high - low)
Example: high = 100. low = 0. close = 25.
(A) Measure price distance C-L. How high above the low did the candle close (e.g. close - low = 25)
(B) Divide by bar range (high - low). 25 / (100 - 0) = .25
Explaination: The candle closed at the 25th percentile of the bar range given the bar range low = 0 and bar range high = 100.
Formula: scp = (close - low) / (high - low)
Vector = Directional.
Vector Position: The position of the price attribute relative to the scale of the bar midpoint (Vector Position at hl2 = 0)
Example: high = 100. low = 0. close = 25.
(A) Measure Price distance C-L: How high above the low did the candle close (e.g. close - low = 25)
(B) Measure Price distance H-C: How far below the high did the candle close (e.g. high - close = 75)
(C) Take Difference: A - B = C = -50
(D) Divide by bar range (high - low). -50 / (100 - 0) = -0.50
Explaination: Candle close at the midpoint between hl2 and the low.
Formula: vcp = { / (high - low) }
Thank you for checking this out. I hope no one else has already done this (because it took half the day) and I hope you find value in it. Be well. Trade well.
Library "PD"
Price Displacement
pt(_exp) Absolute Point Displacement. Point quantity of given size parameters according to _exp.
Parameters:
_exp : (string) Price Parameter
Returns: Point size of given expression as an absolute value.
vpt(_exp) Vector Point Displacement. Point quantity of given size parameters according to _exp.
Parameters:
_exp : (string) Price Parameter
Returns: Point size of given expression as a vector.
tick(_exp) Absolute Tick Displacement. Tick quantity of given size parameters according to _exp.
Parameters:
_exp : (string) Price Parameter
Returns: Tick size of given expression as an absolute value.
vtick(_exp) Vector Tick Displacement. Tick quantity of given size parameters according to _exp.
Parameters:
_exp : (string) Price Parameter
Returns: Tick size of given expression as a vector.
pct(_exp, _prec) Absolute Percent Displacement (w/rounding overload). Percent quantity of bar range of given size parameters according to _exp.
Parameters:
_exp : (string) Expression
_prec : (int) Overload - Place value precision definition
Returns: Percent size of given expression as decimal.
vpct(_exp, _prec) Vector Percent Displacement (w/rounding overload). Percent quantity of bar range of given size parameters according to _exp.
Parameters:
_exp : (string) Expression
_prec : (int) Overload - Place value precision definition
Returns: Percent size of given expression as decimal.
Larry Williams Strategies IndicatorThis indicator is a trend following indicator. It plots some of the trend following strategies described by Larry Williams in his book 'Long Term Secrets to Short Term Trading'. Below are types of trend following strategies you can trade using this indicator. These are notes taken directly from Larry Williams' book.
Short Term Low Strategy
Short Term Low - Any daily low with higher lows on each side of it.
Intermediate Term Low – Any short term low with higher short term lows on each side of it.
Long Term Low – Any intermediate term low with higher intermediate term lows on each side of it.
Conceptual pattern for best buying opportunity is when forming an intermediate term low higher than the last intermediate term low.
This setup can be used on all time frames. However since Larry Williams usually trades the daily chart, the daily chart is probably the best timeframe to trade using this strategy.
Entry point – High of the day that has a higher high on the right side of it.
(My interpretation: price crossing above the high of the previous day is the buy signal)
Target – Markets have a strong tendency to rally above the last intermediate term high by the same amount it moved from the last intermediate term high to the lowest point prior to advancing to new highs.
Trailing Stop – Set stop to most recent short term low, move up as new short term lows are formed. Can also use formation of next intermediate term high as an exit point.
A 'run' to the upside is over when price fails to move higher the next day and falls below the prior day's low.
Short Term High Strategy
Short Term High - Any daily high with lower highs on each side of it.
Intermediate Term High – Any short term high with lower short term highs on each side of it.
Long Term High – Any intermediate term high with lower intermediate term highs on each side of it.
Conceptual pattern for best selling opportunity is when forming an intermediate term high lower than the last intermediate term high.
This setup can be used on all time frames. However since Larry Williams usually trades the daily chart, the daily chart is probably the best timeframe to trade using this strategy.
Entry point – Low of the day that has a lower low on the right side of it.
(My interpretation: price crossing below the low of the previous day is the sell short signal)
Target – Markets have a strong tendency to fall below the last intermediate term low by the same amount it moved from the last intermediate term low to the highest point prior to declining to new lows.
Trailing Stop – Set stop to most recent short term high, move down as new short term highs are formed. Can also use formation of next intermediate term low as an exit point.
A 'run' to the downside is over when price fails to move lower the next day and rises above the prior day's high.
Trend Reversals
A trend change from down to up occurs when a short term high is exceeded on the upside, a trend change from up to down is identified by price going below the most recent low.
Can take these signals to make trades, but it is best to filter them with a confirmation or edge such as Trading Day of the Week, Trading Day of the Month, trendlines, etc. to cut down on false signals.
Three Bar High/Low System
Calculate a three bar moving average of the highs and a three bar moving average of the lows.
Strategy is to buy at the at the price of the three bar moving average of the lows - if the trend is positive according to the swing point trend identification technique - and take profits at the three bar moving average of the highs.
Selling is just the opposite. Sell short at the three bar moving average of the highs and take profits at the three bar moving average of the lows, using the trend identification technique above for confirmation.
This strategy can work on any timeframe, but was described as a daytrading system by Larry Williams.
