Alert Before Bar Closei.imgur.com
Alert Before Bar Close
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Example Figure
Originality and usefulness
This indicator/alert mechanism is unique in two ways. First, it provides alerts before the close of a candlestick, allowing time-based traders to prepare early to determine if the market is about to form a setup. Second, it introduces an observation time mechanism, enabling time-based traders to observe when the market is active, thereby avoiding too many false signals during electronic trading or when trading is light.
Detail
Regarding the settings (Arrow 1). The first input is to select the candlestick period you want to observe. The second is to notify a few seconds in advance. The third input sets the observation time. For example, if you set "1,2,3,4,5," the alert mechanism will only be activated during the period from 01:00:00 to 05:59:59, consistent with the time zone you set in TradingView. Additionally, I have set it so that the alert will only trigger once per candlestick, so don't worry about repeated alerts.
The alert setup is very simple, too. Follow the steps (Arrow 2, 3) to complete the setup. I have tested several periods and successfully received alerts on both mobile and computer. If anyone encounters any issues, feel free to let me know.
Timebased
Time Based Comparison Tool [TFO]The goal of this indicator is to show how multiple assets are trading relative to their Previous Highs and Lows. Many traders have probably seen charts resembling this that may plot how asset prices are trading as a percent change over time, or something similar.
The key difference with this indicator is that all prices are normalized to reflect how they are trading with respect to the previous range of a user-defined timeframe. Without the normalization process, we would simply be observing some percent change from a given point in time; but this does not provide enough information to describe where price is trading relative to our desired frame of reference.
For example, if the timeframe setting was chosen to be 1 day, the indicator would plot the Previous High (PH) and Previous Low (PL) of the current symbol on the daily timeframe, denoted here by the black lines and labels. Then, the adjusted price of all selected symbols would be shown to visualize how each one is moving with respect its own PH and PL, using the current symbol's PH and PL as reference points.
In the above chart, we can see that CL was trading below its PDL from about 10:00-11:00 am EST, then broke above and retested it at around 11:20 am EST, before trading higher. To verify that this comparison works as intended, we can check to see that CL did in fact retest its PDL at this time before trading higher. Note that we are using the close price for this evaluation.
Since limiting the output to close prices can leave out some vital information, we can change the Plot Type setting from "Close" to "High to Low," which will instead show the range of prices from high to low instead of just the close.
We can expand on this by detecting when PH's and PL's have been raided (traded through), by displaying the text PHR (Previous High Raid) or PLR (Previous Low Raid) next to the symbol's label on the right. In this case below, where we're using the 1 week timeframe, we can observe that NQ1! (purple) traded through the PL level and thus its label (right) is updated to indicate a PLR.
Similarly, YM1! traded through its PH level and was updated to indicate a PHR; and ES1! raided both levels, with its label reflecting just that.
Due to the native limitation of output series in a single pine script, alerts have been consolidated to "Any PHR" or "Any PLR," meaning these alerts would fire if any of the selected symbols raided a PH or PL, respectively. If one wanted to be alerted for just a specific symbol, this could be achieved by deselecting all symbols except that which is desired, then setting an alert and adjusting its title for easier user recognition.
