Sequencer [LuxAlgo]

٤ أبريل

The Sequencer indicator is a tool that is able to highlight sequences of prices based on their relative position to past prices, which allows a high degree of customization from the user.

Two phases are included in this script, a "Preparation" phase and a "Lead-Up" phase, each with a customizable amount of steps, as well as other characteristics.

Users can also highlight the last step leading to each phase completion with a level, this level can eventually be used as a key price point.

🔶 USAGE



The script highlights two phases, each being based on a sequence of events requiring prices to be higher/lower than prices various bars ago.

The completion of the preparation phase will lead to the evaluation of the lead-up phase, however, it isn't uncommon to see a reversal occurring after the completion of a preparation phase. In the script, bullish preparations are highlighted in green, while bearish preparations are highlighted in red.



Completion of a "Lead-Up" phase is indicative of a potential reversal, with a bullish reversal for the completion of a bullish lead-up (in blue), and a bearish reversal for the completion of a bearish lead-up (in orange).



Using a higher length for the preparation/lead-up phases can allow the detection of longer-term reversals.



Users wishing to display levels based on specific phases completion can do so from the settings in the "Preparation/Lead-Up Completion Levels" settings group.

The "Show Last" settings determine the amount of respective levels to display on the chart.

🔶 PREPARATION PHASE

The "Preparation" phase precedes the "Lead-Up" phase. The completion of this phase requires N successive prices to be lower than the closing price P bars ago for a bullish phase, and for prices to be higher than the closing price P bars ago for a bearish phase, where N is the user set "Preparation Phase Length" and P the user set "Comparison Period".

🔹Refined Preparations



Sequences of the preparation phase can either be "Standard" or "Refined". Unlike the standard preparation previously described a refined preparation requires the low prices from the user-specified steps in "Refined Preparation Steps" to be above the low price of the last step for a bullish preparation phase, and for the high prices specified in the refined preparation steps to be below the high price of the last step for a bearish preparation phase.

🔶 LEAD-UP PHASE

The "Lead-Up" phase is initiated by the completion of the "Preparation" phase.

Completion of this phase requires the price to be lower than the low price P bars ago N times for a bullish phase, and for prices to be higher than the high price P bars ago N times for a bearish phase, where N is the user set "Lead-Up Phase Length" and P the user set "Comparison Period".

Unlike with the "Preparation" phase these conditions don't need to be successive for them to be valid and can occur at any time.

🔹Lead-Up Cancellation



Incomplete "Lead-Up" phases can be canceled and removed from the chart once a preparation of the opposite sentiment is completed, avoiding lead-ups to be evaluated after completion of complete preparations.

This can be disabled by toggling off "Apply Cancellation".

🔹Lead-Up Suspension



Like with refined preparations, we can require specific steps from the lead-up phase to be higher/lower than the price on the last step. This can be particularly important since we do not require lead-up steps to be successive.

For a bullish lead-up, the low of the last step must be lower than the minimum closing prices of the user-specified steps for it to be valid, while for a bearish lead-up, the high of the last step must be higher than the maximum closing prices of the user-specified steps for it to be valid.

This effectively allows for eliminating lead-up phases getting completed on opposite trends.

🔶 SETTINGS

🔹Preparation Phase

• Preparation Phase Length: Length of the "Preparation" phase.
  
• Comparison Period: Offset used to compare current prices to past ones.
  
• Preparation Type: Type of preparation to evaluate, options include "Standard" or "Refined"
  
• Refined Preparations Steps: Steps to evaluate when preparation type is "Refined"
  

🔹Lead-Up Phase

• Lead-Up Phase Length: Length of the "Lead-Up" phase.
  
• Comparison Period: Offset used to compare current prices to past ones.
  
• Suspension: Applies suspension rule to evaluate lead-up completion.
  
• Suspension Steps: Specifies the steps evaluated to determine if the lead-up referral is respected. Multiple steps are supported and should be comma-separated.
  
• Apply Cancellation: Cancellation will remove any incomplete lead-up upon the completion of a new preparation phase of the opposite sentiment.
  

🔹Levels

• Bullish Preparations Levels: When enabled display price levels from completed bullish preparations.
  
• Show Last: Number of most recent bullish preparations levels to display.
  
• Bearish Preparations Levels: When enabled display price levels from completed bearish preparations.
  
• Show Last: Number of most recent bearish preparations levels to display.
  

٥ أبريل

ملاحظات الأخبار

- Added the option to change the size of the displayed numbers for the preparation and leadup phases