Fibonacci Buy /Sell SignalsHere is a Fibonacci-based Buy/Sell Indicator using retracement levels for potential support and resistance zones. This indicator plots Fibonacci levels and provides buy/sell signals based on price interaction with these levels.
Fibonacci Levels:
Highest high and lowest low over the lookback period.
Key levels: 38.2% (retracement), 50% (midpoint), 61.8% (strong retracement).
Buy Signal: When the price crosses above the 61.8% Fibonacci level (bullish).
Sell Signal: When the price crosses below the 38.2% Fibonacci level (bearish).
Levels
Weekly OHLC LevelsWeekly OHLC Levels Indicator
This indicator plots the previous week's open, high, low, and close (OHLC) levels on the chart for the entire duration of the current week. These levels can be critical for identifying key support and resistance zones, as they often represent psychological levels that traders watch closely.
Features:
Plots previous week’s High (green), Low (red), Open (blue), and Close (purple).
Levels remain visible throughout the current week, providing consistent reference points.
Helps in visualizing how current price action interacts with last week’s important levels.
How to Use:
Use these levels to gauge potential support and resistance areas.
Monitor price reactions around these levels, especially during the beginning of the week, as they can serve as pivot points.
This indicator is suitable for all markets and timeframes, providing valuable insight into price structure relative to weekly market behavior.
BBPct FL Impulse [BackQuant]BBPct FL Impulse
Introducing BackQuant's BBPct FL Impulse — a powerful and unique trading indicator designed to detect impulse moves and exhaustion points in the market. This leading indicator combines Bollinger Band Percentage (BBPct) calculations with a for-loop system to generate clear long and short signals. Additionally, it plots support and resistance exhaustion levels directly on the chart, providing traders with a visual representation of key market levels.
The BBPct FL Impulse is designed for traders who want to anticipate price movements rather than react to lagging indicators. By utilizing the Bollinger Band Percentage, this indicator identifies moments when the price is pushing toward extremes, signaling the likelihood of impulse moves. It goes a step further by providing exhaustion levels where the market may reverse or pause, helping traders identify potential entries and exits.
Core Concept: Bollinger Band Percentage (BBPct)
The BBPct is the primary calculation driving this indicator. It measures where the price is relative to its Bollinger Bands, allowing traders to gauge overbought or oversold conditions. Bollinger Bands are a well-known tool used to define high and low points based on standard deviation from a moving average. The BBPct takes this one step further by showing how far the price is within the bands, as a percentage.
In this script, the BBPct is calculated using the closing price over a customizable BBPct Length (default set to 70) and a Multiplier that defines the width of the bands based on standard deviation. This helps detect when price pushes toward its upper or lower boundaries, indicating potential breakouts or pullbacks.
For-Loop Scoring Mechanism
The for-loop scoring system adds a layer of sophistication to this indicator. It evaluates the BBPct over a range of periods (defined by the Start and End parameters) and generates a score that measures the direction and strength of the price movement.
Long Signals: A long signal is triggered when the score surpasses the Long Threshold (default set at 40), indicating a strong bullish impulse.
Short Signals: A short signal (labeled as "Cash" in this script) is triggered when the score crosses under the Short Threshold (default set at -10), suggesting the price has lost momentum and a bearish move may be coming.
These signals are highlighted on the chart with green triangles for Long and red triangles for Cash, giving traders clear visual cues for potential buy and sell points.
Key Feature: Exhaustion Levels (Support and Resistance)
One of the standout features of this script is the automatic plotting of Exhaustion Support and Resistance Levels. These levels represent points in the market where the price is likely to exhaust its movement and potentially reverse.
Support is plotted when the price shows signs of bullish exhaustion (low price points).
Resistance is plotted when the price shows signs of bearish exhaustion (high price points).
This dynamic support and resistance system uses a custom function based on price swings, analyzing exhaustion patterns to detect significant levels. The indicator allows traders to visualize key market zones where potential reversals or slowdowns may occur, helping to refine trade entries and exits.
Customization & Visualization
This indicator comes with a range of customizable settings, giving traders full control over how the signals are generated and displayed on the chart:
Calculation Source: Choose the price data used for the BBPct calculation (default is the closing price).
BBPct Length: Set the lookback period for the BBPct calculation, adjusting how smooth or reactive the indicator is to price changes.
Multiplier: Adjust the multiplier for the Bollinger Band calculation, controlling how wide or narrow the bands are and thereby affecting sensitivity.
Thresholds for Signals: Customize the thresholds for long and short signals, allowing you to fine-tune the sensitivity to different market conditions.
Show Long and Cash Signals: Toggle the display of long and short signals on the chart.
Exhaustion Levels: Toggle the display of support and resistance levels, adjusting the length of swings and the thickness of the lines to suit your preferences.
Trading Applications
The BBPct FL Impulse indicator is a versatile tool designed to help traders identify impulse moves and exhaustion points. Some of its key applications include:
Breakout Trading: By using the BBPct to detect when price moves toward the extremes of the Bollinger Bands, traders can anticipate potential breakouts and catch the beginning of strong price moves.
Reversal Trading: The exhaustion support and resistance levels provide key areas where price may reverse, allowing reversal traders to identify potential entries as the market shows signs of exhaustion.
Trend Following: The for-loop scoring system helps quantify the strength of price moves, enabling trend-following traders to stay in winning trades as long as the impulse remains strong.
Risk Management: By providing clear support and resistance levels, the indicator helps traders manage risk more effectively by highlighting zones where price may pause or reverse, allowing for better stop-loss placement.
Final Thoughts
The BBPct FL Impulse is an advanced indicator that combines the precision of Bollinger Band Percentage calculations with the power of a for-loop scoring system and dynamic exhaustion levels. Whether you're looking to trade breakouts, reversals, or trends, this indicator offers the tools to help you make informed decisions in the market.
As always, it's important to backtest the indicator and adapt it to your specific trading style and market. No indicator is infallible, and it should be used as part of a broader trading strategy that includes sound risk management practices.
Chandelier Exit Pro w/ExtensionsChandelier Exit Pro w/Extensions
The Chandelier Exit Pro w/Extensions indicator is designed to assist traders in managing risk and identifying trend reversals. The strategy is based on the Chandelier Exit concept, originally created by Charles Le Beau. It uses the Average True Range (ATR) to calculate dynamic stop levels that adjust based on market volatility. This script not only implements the standard Chandelier Exit, but also introduces extension levels and alerts to enhance decision-making.
Key Features:
➡️Dynamic Stop Levels: The indicator calculates stop levels for both long and short positions based on an ATR multiple. This allows traders to determine exit points by monitoring when the price crosses above or below these levels. These levels adapt in real-time based on price volatility, making them a versatile tool for trend-following strategies.
➡️Extension Levels: In addition to the primary stop levels, the script includes extension levels for more advanced stop-loss management. Traders can view active and extension levels separately, providing more flexibility in their exit strategies.
➡️Labels and Visual Cues: The indicator provides dynamic labels that automatically update and follow the plotted stop levels. Labels include the ATR multiplier value (e.g., "2.5" or "2.5ext"), clearly showing the significance of each level. When price crosses below or above a level, the corresponding label is highlighted, aiding traders in quickly identifying the most relevant stop level.
➡️Bar Confirmation and Alerts: The script includes an "await bar confirmation" option to ensure that the stop levels and alerts only trigger after the bar has closed. Alerts are customizable and will notify traders when price crosses critical levels, helping to make timely decisions without the need to constantly monitor charts.
➡️Multiple ATR Levels for Enhanced Precision: The indicator supports up to four different ATR levels, each with customizable multipliers. This allows traders to set different thresholds for exits based on varying degrees of volatility. For example, Level 1 (2.5x ATR) might represent a tighter stop, while Level 4 (10x ATR) could serve as a wider stop for long-term positions.
➡️Calc_bars_count: Improves efficiency of the indicator by reducing the on-chart calculations in to the past. This input can be found at the bottom of the INPUTS tab.
How it Helps Traders:
💥Trend Identification: By using the Chandelier Exit levels, traders can identify when the trend is likely to reverse. When the price crosses below the stop level in a long trade or above the stop level in a short trade, it signals a potential exit point.
💥Volatility-based Adjustments: Unlike static stop-loss methods, the ATR-based stop levels dynamically adjust based on the market’s volatility. This means tighter stops during low volatility periods and wider stops during high volatility periods, reducing the chance of being stopped out prematurely.
💥Risk Management: The dynamic stop levels and extension levels provide a structured way to manage risk. Traders can set tighter stops for short-term trades and wider stops for longer-term trades. The script's visual labels make it easy to track these levels in real-time.
💥Automation with Alerts: The built-in alert system ensures that traders are notified when key levels are crossed. This helps to avoid emotional decision-making and allows for better execution of trading strategies.
Confluence and Price Fluidity:
One of the powerful ways to enhance the effectiveness of the Chandelier Exit indicator is by using it in conjunction with other technical analysis tools to create confluence. Confluence occurs when multiple indicators or price action signals align, providing stronger confirmation for a trade decision. For example:
🎯Support and Resistance Levels: Traders can use the Chandelier Exit levels in combination with key support and resistance zones. If the price is nearing a support level and the Chandelier Exit signals a bullish reversal, this alignment strengthens the case for entering a long position.
🎯Moving Averages: When the Chandelier Exit signals a trend reversal and this is confirmed by a crossover in moving averages (such as a 50-day and 200-day moving average), traders gain additional confidence in the trade direction.
🎯Momentum Indicators: Traders can also look for momentum indicators like RSI or MACD to confirm the strength of a trend or potential reversal. For instance, if the Chandelier Exit triggers a short signal and the RSI also shows overbought conditions, this could provide stronger confirmation to exit a long trade or enter a short position.
🎯Candlestick Patterns: Price fluidity can be monitored using candlestick formations. For example, a bearish engulfing pattern near a Chandelier Exit resistance level offers confluence, adding confidence to the signal to close or short the trade.
By combining the Chandelier Exit with other tools, traders ensure that they are not relying on a single indicator. This layered approach can reduce the likelihood of false signals and improve overall trading accuracy.
Practical Use Case:
Imagine a trader enters a long position, and the price moves favorably. Using the Chandelier Exit, the trader sets the initial stop level at 2.5x ATR below the highest close. As the price continues to rise, the stop level follows the price, locking in profits. If the market suddenly turns, the price crossing below the stop level signals an exit, helping the trader preserve gains. With extension levels, the trader can further refine exits, adjusting based on their risk tolerance and market conditions.
Good luck and I hope that you can find a place in your tool bag to use this dynamic indicator 🙏
Liquidity Pools [LuxAlgo]The Liquidity Pools indicator identifies and displays estimated liquidity pools on the chart by analyzing high and low wicked price areas, along with the amount, and frequency of visits to each zone.
🔶 USAGE
Liquidity Pools are areas where smaller participants are likely to place stop-limit orders to manage risks at reasonable swing points. These zones attract institutional traders who use the pending orders as liquidity to enter larger positions, aiming to influence price movements. By monitoring these zones, traders can anticipate market movements and potentially benefit from these dynamics.
Beyond general liquidity theory, identifying zones consistently visited by price aids in using them as support and resistance zones. By analyzing these areas, we can assess how effectively participants enter or exit these zones, helping to gauge their importance.
In the screenshots below, we will explore both sides of the same chart in more detail to display how each zone could be viewed from a bullish and bearish perspective.
Bullish Zones Example:
Bearish Zones Example:
🔶 DETAILS
The method behind this indicator focuses on identifying a swing point and tracking future interactions with it. It adaptively identifies high and low "potential zones". These zones are monitored over time; if a zone meets the user-defined criteria, the script marks and displays these zones on the chart.
🔹 Identification
The method to identify Liquidity Pools in this indicator revolves around 3 main parameters. By utilizing these settings, the indicator can be tailored to produce zones that fit the specific strategic needs of each trader.
Zone Identification Parameters
Zone Contact Amount: This setting determines the number of times each zone must be in contact with the price (and bought or sold out of) before being identified by the indicator as a Liquidity Pool.
For example: When a zone is first displayed, it is considered as having been reached 1 time. When the zone is re-tested for the first time, this is considered the 2nd contact, since the price has seen the zone a total of 2 times.
Bars Required Between Each Contact: This is used to rule out (or in) consecutive candles reaching each zone from the calculation, adding a separation length between zone contact points to refine the zones produced.
For example: When set to "2", the first contact point (first re-test) will be ignored by the script if it is not at least 2 bars away from the initial zone proposal point.
Confirmation Bars: After a zone has reached the desired Contact Amount, this setting will cause the script to wait a specified number of bars before identifying a zone. While this might initially seem counterintuitive, by waiting, we are able to watch the market's reaction to the proposed zone and respond accordingly. If the price were to continue through the potential liquidity zone Immediately, it would not be logical to consider this area as a valid Liquidity Pool.
Displayed in this screenshot, you will see the specific points we are looking for in order to identify these zones.
🔹 Display
After a Liquidity Pool is identified, its boundary line is extended to the current price to keep it in view for reference. This extension will continue until the zone is mitigated (price has closed above or below the zone), after which it will stop extending.
Candles can optionally be colored when returning to the most recent Liquidity Pool if it is still unmitigated, and will only color after the zone is displayed on the chart. Because of this, if a candle is colored within a zone, then its color comes from being inside a previously unmitigated zone.
🔹 Volume
Each time a candle overlaps an Unmitigated Zone, a percentage of its volume will be accumulated to the total for each specific zone. The volume total is displayed on the right end of the extended boundary lines.
This volume data could help to determine the importance of specific zones based on the amount of volume traded within.
Note: This volume is fractional to the percentage of candles that are contained within the zone. If a candle is 50% within a zone, The zone will receive 50% of the candle's volume added to its current total.
🔶 SETTINGS
See above for a more detailed explanation of the "Zone Identification" parameters.
Zone Contact Amount: The number of times the price must bounce from this zone before considering it as a liquidity pool.
Bars Required Between Each Contact: The number of bars to wait before checking for another zone contact.
Confirmation Bars: The number of bars to wait before identifying a zone to confirm validity.
Display Volume Labels: Toggles the display for the volume readout for each Liquidity Pool.
Fill Candles Inside Zones: Toggles the display of colored candles within Liquidity Pools.
Price Action UltimateThe Price Action Ultimate indicator is an innovative tool designed to provide traders with a comprehensive view of price action based on either volume or touches. By default, the indicator displays touches, offering a unique perspective on price levels that have been frequently interacted with by the market.
At its core, the indicator divides the price range of a specified lookback period into a number of rows (default 25). For each row, it calculates either the volume traded or the number of times the price touched that level. This data is then visualized in two ways: as a histogram and as horizontal lines on the chart.
The histogram, displayed on the right side of the chart, represents the distribution of touches (or volume) across different price levels. Each bar in the histogram shows the number of touches and the percentage of total touches for that price level. The color of the bars ranges from a user-defined low activity color to a high activity color, providing a quick visual reference for the most active price levels.
The horizontal lines drawn across the chart represent the most significant levels based on touches (or volume). By default, the indicator displays the top 3 levels, but this can be adjusted. The thickness of these lines corresponds to the relative importance of each level - thicker lines indicate more touches or higher volume. This feature allows traders to quickly identify key support and resistance levels based on historical price action.
One of the most innovative aspects of this indicator is the option to fade older levels over time. When enabled, this feature gradually increases the transparency of lines as they age, with newer levels appearing more prominently. This helps traders focus on the most recent and relevant price action while still maintaining awareness of older, potentially significant levels.
The indicator offers flexibility in its display options. Users can choose to show levels based on volume, touches, or both. This allows traders to compare and contrast different perspectives on price action. Additionally, the indicator includes options to display a volume profile and a background fill for the analysis range, further enhancing its visual appeal and informational content.
What makes this indicator particularly valuable is its ability to provide a clear, uncluttered view of key price levels without relying on complex calculations or multiple indicators. It distills price action down to its essence - where price has spent the most time or where the most trading activity has occurred. This can be incredibly useful for identifying potential support and resistance levels, areas of consolidation, or possible breakout points.
For traders focused on price action strategies, this indicator offers a powerful tool to enhance their analysis. It provides a data-driven approach to identifying significant price levels, which can be used to inform entry and exit decisions, set stop losses, or anticipate potential market reactions.
This indicator is a tool to aid in market analysis and should not be used as the sole basis for trading decisions. Always combine multiple forms of analysis and practice proper risk management when trading. Past performance does not guarantee future results.
Key Zone LocatorThe "Key Locator" indicator identifies important price levels on a chart by analyzing historical data. It does this by:
Counting Touches: It calculates how many times the price touches each level within a specified period. This helps identify levels that the market frequently interacts with, which can indicate significant support or resistance.
Measuring Volume: It also sums up the trading volume at each level during the same period. High volume at a particular level can suggest strong interest or activity, making that level more significant.s based on historical market activity.
By combining these two metrics—touches and volume—the indicator highlights the most important price level on the chart, helping traders make informed decisions based on where the market has shown significant activity in the past.
Level Calculation:
The indicator first identifies the highest and lowest prices over a specified period, which is determined by the length parameter. It then divides this price range into 200 equal segments, creating potential key levels across the chart. Each segment represents a level where the price might show significant activity.
Metric Calculation:
For each of these levels, the indicator calculates two key metrics. First, it counts how many times the price touches or crosses each level during the specified period. Second, it sums up the trading volume associated with these touches at each level. This dual analysis helps in identifying levels that are not only frequently interacted with but also have substantial trading activity.
Normalization:
To facilitate comparison between different levels, the indicator normalizes both the touch count and the volume for each level to a scale from 0 to 10. This involves dividing each metric by its maximum observed value in the period and scaling it accordingly, ensuring that both metrics are on a comparable scale.
Scoring and Balancing:
Each level is assigned a score based on a weighted average of its normalized touch and volume scores. The weight_balance parameter allows users to adjust the emphasis between touches and volume. A higher weight on touches will prioritize levels frequently interacted with, while more emphasis on volume will highlight levels with significant trading activity.
Identify Key Level:
Finally, the indicator identifies the level with the highest combined score as the most significant. This key level is plotted on the chart in red, providing traders with a visual indication of potential areas of support or resistance based on historical data.
This comprehensive approach allows traders to pinpoint where crucial market activity has occurred, aiding them in making strategic decisions based on historical price behavior and trading volumes.
Please note that while the "Key Locator" indicator provides valuable insights based on historical data, it does not guarantee future performance or outcomes. Trading involves risks, and it's important to use this tool in conjunction with other analysis methods and risk management strategies. Always consider your financial situation and consult with a financial advisor if necessary before making trading decisions.
Technical Analysis ExpressionsDescription:
The indicator allows to display different moving averages and price levels from any timeframe. Instead of setting each plot one by one, you can specify all of them in one expression.
Inputs:
There's only one input, which is a text area where you can specify each plot as an expression. Each expression must be on a new line. Each expression can specify the source of the displayed values, the plot color and the timeframe from which that value is taken.
Here's an example expression that will plot SMA(20) of Close price from Daily timeframe, and the plot is going to be red. This will also plot an EMA(50) of High price from current timeframe, and the plot is going to be green (notice that you can specify the color as one of the standard Pinescript colors, or using a HEX color, and even using transparency if needed):
SMA(close, 20) red "D"
EMA(high, 50) #00ff00
You can also specify the color to be "chart.fg" which is the Foreground Color of current chart (it depends on whether the "Dark Theme" is enabled in Tradingview). The available moving averages are: SMA, EMA, WMA, HMA, RMA, VWMA. The available sources are: open, high, low, close, hl2, hlc3, hlcc4, ohlc4.
Chronos Trend Level Oracle (CTLO)The Chronos Trend Level Oracle (CTLO) is a powerful technical analysis tool designed to identify significant trend levels that can act as support and resistance, helping traders navigate market trends and potential reversal points.
Key Components:
Setup Identification:
Bullish Setup: 9 consecutive closes lower than the close 4 bars earlier.
Bearish Setup: 9 consecutive closes higher than the close 4 bars earlier.
CTLO Support Level:
Established when a Bullish Setup completes.
Represents the lowest low of the CTLO Period (default 9 bars) preceding the Setup completion.
CTLO Resistance Level:
Established when a Bearish Setup completes.
Represents the highest high of the CTLO Period (default 9 bars) preceding the Setup completion.
Level Persistence:
A CTLO level remains active until an opposite Setup completes.
When a new Setup completes, it clears the opposite level.
Visual Representation:
Support levels are displayed as green circles.
Resistance levels are displayed as red circles.
Both use translucency for better chart visibility.
How to Use the CTLO:
Trend Identification:
The presence of a CTLO Support level suggests an underlying bullish trend.
The presence of a CTLO Resistance level suggests an underlying bearish trend.
The absence of either level indicates a possible trend transition or consolidation.
Support and Resistance:
Use CTLO levels as potential support (green) or resistance (red) areas.
These levels often act as price reaction points where bounces or rejections may occur.
Breakouts and Breakdowns:
A decisive close above a CTLO Resistance level could signal a bullish breakout.
A decisive close below a CTLO Support level could signal a bearish breakdown.
Use the optional alerts to be notified of these events.
Trend Continuation:
Price respecting a CTLO Support level can be seen as bullish, suggesting potential long entries.
Price respecting a CTLO Resistance level can be seen as bearish, suggesting potential short entries.
Reversal Anticipation:
As price approaches a CTLO level, watch for signs of reversal (e.g., candlestick patterns, divergences).
Failed breakouts/breakdowns at CTLO levels can lead to strong moves in the opposite direction.
Multiple Timeframe Analysis:
Apply CTLO on different timeframes for a more comprehensive market view.
Higher timeframe CTLO levels often carry more significance.
Combine with Price Action:
Look for candlestick patterns or chart formations near CTLO levels for higher probability setups.
Double tops/bottoms or other reversal patterns at CTLO levels can be particularly significant.
Risk Management:
Use CTLO levels to set stop-loss orders or profit targets.
For breakout trades, consider using the CTLO level as a new stop-loss after the breakout occurs.
Chronos Sequential Compass (CSC)The Chronos Sequential Compass (CSC) is an advanced technical analysis tool used to identify potential price exhaustion points, trend reversals, and provide a framework for understanding market structure.
Key Components:
Setup Phase:
Bullish Setup: 9 consecutive closes lower than the close 4 bars earlier.
Bearish Setup: 9 consecutive closes higher than the close 4 bars earlier.
Visualized by green (bullish) or red (bearish) triangles on the chart.
Countdown Phase:
Starts after a Setup is completed.
Counts from 1 to 13(D), comparing the close to the low (for bullish) or high (for bearish) two bars earlier.
Displayed as numbers below (bullish) or above (bearish) the price bars.
Setups:
A Setup is complete when the low of bars 6 and 7 in a bullish Setup are exceeded by the low of bar 9.
For bearish Setups, the high of bars 6 and 7 must be exceeded by the high of bar 9.
Risk Levels:
Established when a Countdown reaches 13(D).
Acts as a reference point for potential trend reversals.
Countdown Delayed:
Indicated by a '+' symbol.
Occurs when a Countdown reaches 13(D) but doesn't meet specific criteria for completion.
Recycling:
Resets the Countdown if a strong opposite trend emerges during the Countdown phase.
How to Use the CSC:
Trend Identification:
Consecutive Setups in one direction indicate a strong trend.
Look for potential trend exhaustion when Setups start appearing in the opposite direction.
Potential Reversal Points:
Pay attention when a Countdown reaches 13, especially if it coincides with other technical factors (support/resistance, chart patterns, etc.).
A completed Countdown doesn't guarantee a reversal but suggests increased probability.
Risk Management:
Use Risk Levels as potential stop-loss points or profit-taking levels.
Be cautious of trades against the trend when price is far from the Risk Level.
Confluence with Price Action:
Look for candlestick patterns or chart formations at key Sequential levels for higher probability setups.
Timeframe Coordination:
Consider using CSC on multiple timeframes for a more comprehensive market view.
Higher timeframe signals often carry more weight.
Delayed Countdowns:
A delayed Countdown (indicated by '+') suggests the trend might continue.
It can provide opportunities for trend continuation trades.
Setup:
Setups often provide stronger signals and may lead to more significant moves.
Reversals should occur within 4 bars of setup signals
Completed Countdowns:
Reversals should occur within 12 bars of completed countdowns
VWAP Periodic Close [LuxAlgo]The VWAP Periodic Close script offers an advanced tool for analyzing the Volume Weighted Average Price (VWAP) across various timeframes.
This tool enables traders to visualize VWAP close levels for daily, weekly, monthly, quarterly, and yearly periods, offering a comprehensive view of price behavior across different time frames. It helps in identifying key levels where the VWAP closes at the end of each specified period.
🔶 USAGE
This script is designed to enhance your trading strategy by plotting VWAP close levels on your chart for different time periods. This helps traders easily identify historical VWAP levels and analyze price action relative to these levels, particularly useful for identifying key support and resistance levels providing insights into potential future price behavior.
Supports VWAP closes for multiple timeframes, including historical periods (e.g., 3 months back, 3 quarters back, 3 years back). The labels provide context and detailed information about the VWAP close at a specific point in time and enhance the clarity and usefulness of the VWAP data presented on the chart.
Users can toggle the display of VWAP lines for different periods and customize the colors for each timeframe (e.g., distinct colors for monthly, quarterly, and yearly closes).
🔶 SETTINGS
The script offers a range of customizable settings to tailor the analysis to your trading needs.
🔹 Volume Weighted Average Price (VWAP)
VWAP Close Level: Toggle the display of VWAP levels at the end of each period (daily, weekly, monthly, quarterly, yearly).
VWAP Origin: Toggle the display of the VWAP line for each period.
VWAP Source: Choose the data source for VWAP calculations (default is HLC3).
Historical Closes: Define the number of historical VWAP levels to plot.
Line/Label Offset: Adjust the offset for positioning lines and labels on the chart.
🔹 Themes
Theme Selection: Choose between "Day," "Night," or "Custom" themes to adjust the color scheme of VWAP lines and labels.
Pivot Data [QuantVue]The Pivot Data Indicator is designed to provide traders with valuable insights by identifying and analyzing pivot points on the price chart. It calculates both pivot highs and lows, then presents detailed statistics on the distance and time between these pivots.
a pivot point is defined as a specific point on the chart where the price either reaches a high or a low, with no bars higher or lower than it for a set number of bars on both sides (left and right). Essentially, it's a local high or low point, with the market moving in the opposite direction after the pivot forms.
For example:
A pivot high occurs when there are no bars with higher prices for a specified number of bars before and after that point.
A pivot low occurs when there are no bars with lower prices for the same number of bars on either side.
The number of bars to the left and right is adjustable via the Pivot Lookback Bars setting, allowing you to define how many bars are used to determine these pivot points.
Key features include:
Pivot Highs and Lows Identification: Automatically marks significant pivot highs and lows based on a user-defined lookback period, helping traders identify potential trend reversals or continuation points.
Prediction Labels: Provides forecasted pivot levels based on historical pivot price and time patterns, with options to show predictions for pivot highs, lows, or any pivot point.
Customizable Table Display: Displays a table summarizing important statistics, such as the average price percentage and the number of bars between pivots, along with the distance and time from the most recent pivot.
Traders can use this tool to map out potential levels of support and resistance based on historical data on pivot points.
ICT Time Levels Description:
The Time Levels Indicator is designed to enhance trading decisions by marking significant price levels at key times throughout the trading day. This indicator specifically focuses on three crucial times: 8:30 AM, 9:30 AM, and 10:00 AM (UTC-4), which are often associated with significant market movements.
Key Features:
Customizable Time Levels: Users can toggle the display of price levels at 8:30 AM, 9:30 AM, and 10:00 AM. Each level is marked with a line on the chart, which helps traders visually identify these critical points.
Style and Color Options: Customize the appearance of each time level with different line styles (solid, dotted, dashed) and colors to match your chart preferences.
Dynamic Labeling: The indicator automatically places a label at the current price level for each time, making it easier to identify and track these levels as the day progresses.
Real-Time Updates: As the trading session unfolds, the indicator adjusts the lines and labels to reflect the latest price data at the specified times.
How It Works:
At the specified times (8:30 AM, 9:30 AM, and 10:00 AM), the indicator captures the opening price and plots a horizontal line at that level.
These lines serve as reference points, helping traders to observe how the price interacts with these key levels throughout the day.
The lines and labels are fully customizable, allowing users to adapt the indicator to their trading style and visual preferences.
Use Cases:
Market Open Strategies: Traders can use the 9:30 AM level to monitor the opening price of the New York Stock Exchange (NYSE), which often sets the tone for the trading session.
Morning Volatility: The 8:30 AM and 10:00 AM levels can be useful for identifying potential support and resistance levels during periods of increased volatility, such as economic data releases or after the market opens.
This indicator is particularly useful for intraday traders who focus on morning trading sessions and want to have a clear visual reference to guide their decisions.
Note: This script is designed to be simple yet effective, providing traders with essential information without cluttering the chart.
Volume on levels @gauranshgVolume on Levels @gauranshg is a powerful Pine Script designed to visualize trading volume across price levels directly on the chart. This script allows users to observe volume intensity, offering a clearer perspective on price action and potential support/resistance areas. By utilizing a dynamic, customizable multiplier, the volume is normalized and displayed in proportion, ensuring better scalability across various timeframes and assets.
Usage:
Normalization of Volume: Users can input a multiplier to adjust the normalization of volume. This is useful when analyzing assets with differing price and volume ranges.
Input of 1 means 1 Million volume will be marked with green color of opacity 1 and 2 Million as 2 and so on. In case you are looking at chart with very high volume, you might want to increase the multiplies
Default multiplier is set to 1, and can be customized for different scales.
Volume Visualization: The volume is displayed on the chart as background boxes behind price levels, with the opacity of the boxes changing based on the normalized volume. This helps to quickly visualize areas of high and low trading activity.
This script is ideal for investors who wish to enhance their volume analysis by visualizing it directly on price levels in a clear, normalized format.
QQQ and SPY Price Levels [MW]Introduction:
Don’t let SPY and QQQ resistance levels hurt your futures trading anymore. The QQQ and SPY Price Levels indicator automagically provides easily accessible QQQ price levels for NASDAQ-related charts such as QQQ, /NQ and /MNQ futures, and leveraged ETFs such as TQQQ and SQQQ as well as for SPY price levels for S&P 500-related charts such as SPY, /ES and /MES futures, SPX, and leveraged ETFs such as UPRO and SPXU. If you’ve ever traded futures, or anything QQQ- or SPY-related and wanted to know at what price would the corresponding asset reach a key whole number level of QQQ or SPY, like 400, 440, 445, or even 447.50, this tool is for you. Key 10x, 5x, and even 2.5x multiples of QQQ and SPY can act as support or resistance for other related-assets. Until now, there hasn’t been an indicator that can serve as an easy visual cue to know exactly when that is about to happen across assets.
This indicator is a fork of the original SPY Price Levels indicator, which only considered SPY-related assets.
Settings:
QQQ/SPY 2.5x: Show closest levels above and below that are multiples of 2.5 on QQQ
QQQ/SPY 5x: Show closest levels above and below that are multiples of 5 on QQQ
QQQ/SPY 10x: Show closest levels above and below that are multiples of 10 on QQQ
Show QQQ/SPY Price Label: Show the current QQQ/SPY price
Extend lines to the left: Extend label lines for each price level to the beginning of the chart
Calculations:
This indicator defines the ratio between the price of QQQ/SPY and another NASDAQ/S&P-related asset and uses that multiplier once the user-defined price increments are defined. For example, if /MNQ is at 19000 and QQQ is at 465, then the ratio would be 40.8.
The incremental QQQ levels that are above and below the QQQ price are calculated using the following equations:
qqqLevelUp = _multiplier * math.ceil(_qqqClose / _multiplier)
qqqLevelDown = _multiplier * math.floor(_qqqClose / _multiplier)
The conversion ratio is then multiplied by that amount to get the final estimated corresponding price using the calculation:
levelUp := _conversion * qqqLevelUp
levelDown := _conversion * qqqLevelDown
For leveraged assets, the conversion must be used on the difference between the current QQQ price and the incremental upper and lower levels.
For example, the calculation for the next level up looks like the following:
levelUpDelta := math.abs(_qqqClose - qqqLevelUp)
levelUp := close + _conversion * (levelUpDelta * _leverage)
This logic is identical for SPY-related assets.
How to Use:
The QQQ and SPY Price Levels indicator aims to be as unobtrusive as possible. The default view shows 3 labels and 2 lines that are all aligned to the right of the main chart, so that it interferes as little as possible with any other indicators. It can be added to any /NQ or /MNQ futures chart, SQQQ, TQQQ, and, of course, QQQ as well as any /ES /MES futures chart, SPXU, UPRO, SPX, and of course SPY. The most immediate price levels for each multiplier appears above and below the current price along with the price of QQQ/SPY.
For example, MNQU2024 is currently at 19594. By looking at the indicator the next QQQ increment below is at 475, or 19556 on the MNQU2024 chart. This potential support is marked with a green label that shows both prices. The next increment above is at QQQ 477.50, or 19659 on the MESU2024 chart. And the QQQ price itself, is also shown (and can be removed) at 475.92.
QQQ and SPY price increments of 2.5, 5, and 10 tend to consistently act at the very least as emotional support and resistance levels. Weak, or weakening volume and/or momentum when these levels are hit can trigger a strong rejection, and can sometimes precipitate lengthy consolidation periods at those levels. Watching an NASDAQ- and S&P 500-related asset come to a halt, fall off a cliff, or react in some other unintuitive way could very well be the result of a QQQ/SPY level being reached. Even though many of us know that this relationship exists, it’s easy to forget. So, this indicator helps to ensure that its users keep that relationship front and center.
By extending the lines into the past on QQQ/SPY and their related assets, you can see what reactions happened at these key levels.
Other Usage Notes and Limitations:
The calculations used only provide an estimated relationship or a close approximation, and are not exact.
It's important for traders to be aware of the limitations of any indicator and to use them as part of a broader, well-rounded trading strategy that includes risk management, fundamental analysis, and other tools that can help with reducing false signals, determining trend direction, and providing additional confirmation for a trade decision. Diversifying strategies and not relying solely on one type of indicator or analysis can help mitigate some of these risks.
Magic Linear Regression Channel [MW]Introduction
The Magic Linear Regression Channel indicator provides users with a way to quickly include a linear regression channel ANYWHERE on their chart, in order to find channel breakouts and bounces within any time period. It uses a novel method that allows users to adjust the start and end period of the regression channel in order to quickly make adjustments faster, with fewer steps, and with more precision than with any other linear regression channel tool. It includes Fibonacci bands AND a horizontal mode in order for users to quickly define significant price levels based on the high, low, open, and close prices defined by the start period.
Settings
Start Time: This is initially MANUALLY SELECTED ON THE CHART when the indicator is first loaded.
End time: This is also initially MANUALLY SELECTED ON THE CHART when the indicator is first loaded.
Horizontal Line: This forces the baseline to be horizontal. The band distance is defined by the maximum price distance from the band.
Horizontal Line Type: This snaps the horizontal line to the close, high, low, or open price. Or, it can also use a regression calculation for the selected time period to define the y-position of the line.
Extend Line N Bars: How many bars to the left in which to extend the baseline and bands.
Show Baseline ONLY!!: Removes all lines except the baseline and it’s extension.
Add Half Band: Includes a band that is half the distance between the baseline and the top and bottom bands
Add Outer Fibonacci Band: Includes a band that is 1.618 (phi) times the default band distance
Add Inner Fibonacci Band - Upper: Includes a band that is 0.618 (1/phi) times the default band distance
Add Inner Fibonacci Band - Lower: Includes a band that is 0.382 (1 - 1/phi) times the default band distance
Calculations
This indicator uses the least squares approach for generating a straight regression line, which can be reviewed at Wikipedia’s “Simple Linear Regression” page. It sums all of the x-values, and y-values, as well as the sum of the product of corresponding x and y values, and the sum of the squares of the x-values. These values are used to calculate the slope and intercept using the following equations:
slope = (n * sum_xy - sum_x * sum_y) / (n * sum_xx - sum_x * sum_x)
And
intercept = (sum_y - slope * sum_x) / n
The slope and intercept are then used to generate the baseline and the corresponding bands using the user-selected offsets.
How to Use
When the Magic Linear Regression Channel indicator is first added to the chart, there will be a blue prompt behind the “Indicators, Metrics & Strategies” window. Close the window, then select a START POINT by clicking at a desired location on the chart. Next, you will be prompted to select an END POINT. The end point MUST be placed after the START POINT. At this time a channel will be generated. Once you’ve selected the START POINT and END POINT, you can adjust them by dragging them anywhere on the chart. Each adjustment will generate a new channel making it easier for you to quickly visualize and recognize any channel exits and bounces.
The Magic Linear Regression Channel indicator works great at identifying wave patterns. Place the start line at a top or bottom pivot point. Place the end line at the next respective top or bottom pivot. This will give you a complete wave form to work with. When price reaches a band and rejects, it can be a strong indication that price may move back to one of the bands in the channel. If price exits the channel with volume that supports the exit, it may be an indication of a breakout.
You can also use the horizontal mode to identify key levels, then add Fibonacci bands based on regression calculations for the given time period to provide more meaningful areas of support and resistance.
Other Usage Notes and Limitations
Occasionally, off-by-1 errors appear which makes the extended lines protrude at a slightly incorrect angle. This is a known bug and will be addressed in the next release.
It's important for traders to be aware of the limitations of any indicator and to use them as part of a broader, well-rounded trading strategy that includes risk management, fundamental analysis, and other tools that can help with reducing false signals, determining trend direction, and providing additional confirmation for a trade decision. Diversifying strategies and not relying solely on one type of indicator or analysis can help mitigate some of these risks.
FVG Price & Volume Graph [LuxAlgo]The FVG Price & Volume Graph tool plot recently detected fair value gaps relative to the volume traded within their area during their formation. This allows us to effectively visualize significant fair value gaps caused by high liquidity.
The indicator also returns levels from the fair value gaps areas average with the highest associated volume.
Do note that the indicator can consider the chart's visible range when being computed, which will recalculate the indicator when the chart's visible range changes.
🔶 USAGE
Fair Value Gaps (FVG) are core price action concepts occurring when the disparity between supply and demand is significant. Price has a tendency to come back to those areas and mitigating them, that is filling them.
The provided tools allow for effective visualization of both FVG's area's height as well as the volume originating from their creation, which is defined by the total traded volume located within the FVG during its creation. FVG's with more associated volume are displayed to the rightmost of the chart.
Users can determine the amount of most recent FVG's to display from the "Display Amount" setting. Disabling the "Consider Mitigation" setting will return mitigated FVGs in the plot, which can be useful to know where most FVGs were located.
We can use the area average of the FVGs with the most associated volume as potential support/resistance levels. Users can extend more FVG's averages by increasing the "Highest Volume Averages" setting.
🔹 Visualizing Volume/Price Relationships of FVG's
A linear regression is fit between FVG's areas average and their associated volume, with this linear regression helping us see where FVG's with specific volume might be located in the future based on existing FVG's.
Note that FVG's do not tend to exhibit linear relationships with their associated volume, the provided linear regression can give a general sense of tendency, but nothing necessarily accurate.
🔶 DETAILS
🔹 Intrabar Data TF
Given a formation of three candles causing an FVG, the volume traded within that FVG area is obtained by looking at the lower timeframe intrabar candles located within the intermediary candle of the formation. The volume of the intrabar candles located within the FVG areas is added up to obtain the associated volume of the FVG.
Using a lower "Intrabar Data TF" allows obtaining more precise volume results, at the cost of computation time and data availability (if there is a high difference between the "Intrabar Data TF" and the chart TF then less FVG can have their associated volume calculated due to Tradingview limitations).
🔹 Display
Users have access to multiple graphical settings affecting how the indicator is displayed.
The "Graph Resolution" setting determines the length of the X axis, with higher values returning more precise results on the location of FVGs over the X axis. Users can also control the number of labels displayed on the X-axis using the numerical input to the right of "Show X-Axis Labels".
Additionally, users can color FVG areas using a gradient relative to the size of the area, or the volume associated with the FVG.
🔶 SETTINGS
Display Amount: Amount of most recent FVGs to display.
Highest Volume Averages: Amount of FVG averages levels with the highest volume to display and extend.
Consider Mitigation: Only display unmitigated FVGs.
Filter FVGs Outside Visible Range: Only display FVGs areas that are located within the user chart visible range.
Intrabar Data TF: Timeframe used to obtain intrabar data. Should be lower than the user chart timeframe.
Nautilus Oscillator [BigBeluga]NAUTILUS OSCILLATOR
The Nautilus Oscillator by BigBeluga is an advanced technical analysis tool designed to help traders identify trend direction, strength, and potential reversal points in the market. This versatile indicator combines multiple analytical elements to provide a comprehensive view of market conditions.
Why It’s Unique:
The Nautilus Oscillator is unique too, its blend of multiple technical analysis tools into a single, coherent indicator.
By smoothing with a unique and highly valued in signal processing filter, and incorporating dynamic thresholds, this oscillator offers a more refined and adaptable approach to identifying trading signals.
The filter is designed to have as flat a frequency response as possible in the passband. This means that within the range of frequencies it allows through, minimizes distortion and maintains the true shape of the signal more accurately than many other types of filters.
The addition of a trend filter and divergence detection further enhances its capability, making it a versatile tool for both trend-following and reversal strategies. The built-in dashboard and clean chart management features provide traders with a streamlined, informative, and visually appealing trading experience. This makes the Nautilus Oscillator not just a tool for analysis but a comprehensive trading system in itself.
🔵 KEY FEATURES
● Main Oscillator Line
Smoothly transitions between bullish (green) and bearish (purple) colors
Helps visualize mean-reversion, market trend, and momentum
● Histogram
Displayed below the main oscillator line
Represents the rate of change of the main oscillator
Acts as a leading indicator, often showing changes faster than the main oscillator line
Can be viewed as a predictive element, potentially indicating future movements of the main oscillator
Histogram crossover signals (small dots) can indicate short-term momentum shifts
Useful for early detection of potential trend changes or momentum shifts
● Confluence Arrows
Arrows displayed above and below the oscillator
Provide additional confluence signals that work in conjunction with the histogram
Act as supplementary indicators to confirm the main oscillator signals
Help in identifying stronger, more reliable trading opportunities when aligned with other indicator elements
● Trend Filter
Displayed as horizontal lines above and below the oscillator
Upper lines (above the oscillator): Indicate an uptrend
Lower lines (below the oscillator): Indicate a downtrend
Three lines appear when a strong trend is present
Only one line is displayed when there's no trend
Color-coded for easy identification (typically green for up, purple for down)
Color intensity indicates the strength of the trend. More intensive color indicates stronger trend
Provides a clear visual representation of the overall market trend
Helps traders align their strategies with the broader market direction
● Overbought/Oversold Thresholds
Can be set to static levels or dynamically adjust based on market volatility
Helps identify potential reversal points in the market
● Signals
Strong signals: Displayed as circles on both the oscillator and main chart (optional)
Simple signals: Shown as X marks on both the oscillator and main chart (optional)
Histogram crossover signals: Small dots on the histogram
● Stop Levels
Optional feature that plots potential stop-loss levels for strong signals
Based on the Market volatility for adaptability to different market conditions
● Divergences
Identifies and displays bullish and bearish divergences between price and the oscillator
Helps spot potential trend reversals
● Dashboard
Provides at-a-glance information about current market conditions
Displays trend direction, last signal, histogram direction, threshold mode, and divergence status
🔵 HOW TO USE
● Trend Identification
Use the main oscillator line color and position, along with the trend filter lines, to determine the overall market trend
● Entry Signals
Strong signals (circles) suggest potential entry points in the direction of the trend
Simple signals (X marks) can be used for more frequent, but potentially less reliable, entry opportunities
Histogram crossover signals (dots) can indicate changes faster than the main oscillator line
Look for alignment with confluence arrows for stronger entry signals
● Exit Signals
Use the overbought/oversold thresholds as potential enter and exit points
Stop levels (if enabled) provide dynamic exit points for risk management
● Reversal Identification
Watch for divergences between price and the oscillator for potential trend reversals
Pay attention to the histogram direction for early signs of momentum shifts
Notice changes in the trend filter lines (from three lines to one, or vice versa)
● Confirmation
Use the dashboard to quickly confirm the current market state and indicator readings
Combine signals from different elements (main line, histogram, trend filter, confluence arrows) for stronger confirmation
🔵 CUSTOMIZATION
The Nautilus Oscillator offers several customization options to suit different trading styles:
Adjust the main oscillator length
Set static or dynamic overbought/oversold thresholds
Enable/disable and customize stop levels
Toggle divergence display and adjust its parameters
Show/hide the information dashboard
Display simple signals on the main chart
By fine-tuning these settings, traders can adapt the Nautilus Oscillator to various market conditions and personal trading strategies.
The Nautilus Oscillator provides a multi-faceted approach to market analysis, combining trend identification, momentum assessment, and reversal detection in one comprehensive tool. Its visual cues and customizable features make it suitable for both novice and experienced traders across various timeframes and markets. The integration of multiple analytical elements – including the predictive histogram, confluence arrows, and adaptive trend filter – offers traders a rich set of data points to inform their trading decisions.
Daily Open [Kintsugi Trading]Daily Open
The "Daily Open" indicator by Kintsugi Trading is designed to give traders clear and immediate access to daily open prices, enhancing their ability to spot key market levels and make informed trading decisions. The indicator dynamically changes the color of the plotted line based on the current price's relationship to the opening price of the regular market session. This visual aid helps traders quickly assess whether the current price is trading above or below the opening price of the session.
Key Features:
Daily Open Visualization: Automatically plots the daily open price on your chart, providing a clear reference point for daily price action.
Configurable Market Open Time: The indicator allows users to input the start time of the regular market session (default is set to 9:30 AM).
Color-Coded: The indicator dynamically adjusts the color of the daily open line and price labels based on whether the price is above or below the open, giving you quick visual cues about market sentiment.
Customization Options: Users can modify the line's appearance, including the color and style, to better fit their chart preferences.
Ideal For:
This indicator is particularly useful for day traders and those looking to closely monitor price action in relation to the market's opening level. It serves as a quick reference point for identifying potential bullish or bearish sentiment throughout the trading day.
Good luck with your trading!
Sylvain Zig-Zag [MyTradingCoder]This Pine Script version of ZigZagHighLow is a faithful port of Sylvain Vervoort's original study, initially implemented in NinjaScript and later added to the thinkorswim standard library. This indicator identifies and connects swing points in price data, offering a clear visualization of market moves that exceed a specified threshold. Additionally, it now includes features for detecting and plotting support and resistance levels, enhancing its utility for technical analysis.
Overview
The Sylvain Zig-Zag study excels at highlighting significant price swings by plotting points where the price change, combined with volatility adjustments via the Average True Range (ATR), exceeds a user-defined percentage. It effectively smooths out minor fluctuations, allowing traders to focus on the primary market trends. This tool is particularly useful in identifying potential turning points, trends in price movements, and key support and resistance levels, making it a valuable addition to your technical analysis arsenal.
How It Works
The Sylvain Zig-Zag indicator works by detecting swing points in the price data and connecting them to form a zigzag pattern. A swing point is identified when the price moves a certain distance, defined by a combination of percentage change and ATR. This distance must be exceeded for a swing point to be plotted.
When the price moves upwards and exceeds the previous high by a specified percentage plus a factor of the ATR, a new high swing point is plotted. Conversely, a low swing point is plotted when the price moves downwards and exceeds the previous low by the same criteria. This ensures that only significant price moves are considered, filtering out minor fluctuations and providing a clear view of the overall market trend.
In addition to plotting zigzag lines, the indicator can now identify and draw support and resistance levels based on the detected swing points. These levels are crucial for identifying potential reversal areas and market structure.
Key Features
Swing Point Detection: Accurately identifies significant price swings by considering both percentage price change and volatility (via Average True Range).
Dynamic Support/Resistance: Automatically generates support and resistance lines based on the identified swing points, providing potential areas of price reversals.
Customizable Parameters: Tailor the indicator's sensitivity to your preferred trading style and market conditions. Adjust parameters like percentage reversal, ATR settings, and absolute/tick reversals.
Visual Clarity: Choose to display the ZigZag line, support/resistance levels, new trend icons, continuation icons, and even customize bar colors for easy visual analysis.
Trading Applications
Trend Identification: Easily visualize the prevailing market trend using the direction of the ZigZag line and support/resistance levels.
Entry/Exit Signals: Potential entry points can be identified when the price interacts with the dynamic support/resistance levels.
Stop-Loss Placement: Use recent swing points as logical places for setting stop-loss orders.
Profit Targets: Project potential price targets based on the distance between previous swing points.
Input Parameters
Several input parameters can be adjusted to customize the behavior of the Sylvain Zig-Zag indicator. These parameters allow traders to fine-tune the detection of swing points and support/resistance levels to better suit their trading strategy and the specific market conditions they are analyzing.
High Source and Low Source:
These inputs define the price points used for detecting high and low swing points, respectively. You can choose between high, low, open, or close prices for these calculations.
Percentage Reversal:
This input sets the minimum percentage change in price required for a swing to be detected. A higher percentage value will result in fewer but more significant swing points, while a lower value will detect more frequent, smaller swings.
Absolute Reversal:
This parameter allows for an additional fixed value to be added to the minimum price change and ATR change. This can be useful for increasing the distance between swing points in volatile markets.
ATR Length:
This input defines the period used for calculating the ATR, which is a measure of market volatility. A longer ATR period will smooth out the ATR calculation, while a shorter period will make it more sensitive to recent price changes.
ATR Multiplier:
This factor is applied to the ATR value to adjust the sensitivity of the swing point detection. A higher multiplier will increase the required price movement for a swing point to be plotted, reducing the number of detected swings.
Tick Reversal:
This input allows for an additional value in ticks to be added to the minimum price change and ATR change, providing further customization in the swing point detection process.
Support and Resistance:
Show S/R: Enable or disable the plotting of support and resistance levels.
Max S/R Levels: Set the maximum number of support and resistance levels to display.
S/R Line Width: Adjust the width of the support and resistance lines.
Visual Settings
The Sylvain Zig-Zag indicator also includes visual settings to enhance the clarity of the plotted swing points and trends. You can customize the color and width of the zigzag line, and enable icons to indicate new trends and continuation patterns. Additionally, the bars can be colored based on the detected trend, aiding in quick visual analysis.
Conclusion
This port of the ZigZagHighLow study from NinjaScript to Pine Script preserves the essence of Sylvain Vervoort’s methodology while adding new features for support and resistance. It provides traders with a powerful tool for technical analysis. The combination of price changes and ATR ensures that you have a robust and adaptable tool for identifying key market movements and structural levels. Customize the settings to match your trading style and gain a clearer picture of market trends, turning points, and support/resistance areas. Enjoy improved market analysis and more informed trading decisions with the Sylvain Zig-Zag indicator.
Liquidity Swings & SweepsThis Pine script indicator is designed to create a visual representation liquidity as identified by swing Highs/Lows along with an indication of the liquidity level that was swept, optionally rating the strength of the sweep based on time & price.
Relevance:
Liquidity levels & sweeps are crucial for many SMC/ICT setups and can indicate a point at which the price changes direction or may re-trace in an opposite direction to provide additional liquidity for continued move in the original direction. Additionally, liquidity levels may provide targets for setups, as price action will often seek to take out those levels as they main contain many buy/sell stops.
How It Works:
The indicator tracks all swing points, as identified using user-defined strength of the swing. Once a swing is formed that meets the criteria, it is represented by a horizontal line starting at the price of the current swing until the last bar on the chart. While the swing is valid, this line will continue to be extended until the swing is invalid or a new swing is formed. Upon identifying a new swing, the indicator then scans the earlier swings in the same direction looking for a point of greatest liquidity that was taken by the current swing. This level is then denoted by dashed horizontal line, connecting earlier swing point to the current. At the same time any liquidity zones between the two swings are automatically removed from the chart if they had previously been rendered on the chart. If the setting to enable scan for maximum liquidity is enabled, then while looking back, the indicator will look for lowest low or highest high that was taken by the current swing point, which may not be a swing itself, however, is a lowest/highest price point taken (mitigated) by the current swing, which in many cases will be better price then then the one represented by previous swing. If the option to render sweep label is enabled, the sweep line will also be completed by a label, that will score the sweep and a tooltip showing the details of the level swept and the time it took to sweep it. The score explained further in configurability section ranks the strength of the sweep based on time and is complemented by price (difference in price between the two liquidity levels).
Configurability:
A user may configure the strength of the swing using both left/right strength (number of bars) as well as optionally instruct the indicator to seek the lowest/highest price point which may not be previous swing that was taken out by newly formed swing.
From appearance perspective liquidity level colors & line width presenting the liquidity/swing can be configured. There is also an option to render the liquidity sweep label that will generate an icon-based rating of the liquidity sweep and a tooltip that provides details on the scope of the swing, which includes liquidity level swept and when it was formed along with the time it took to sweep the liquidity.
Rating is of sweeps is primarily based on time with a secondary reference to price
💥- Best rating, very strong sweep with an hourly or better liquidity sweep
🔥- Second rating, strong sweep with 15 – 59 minute liquidity sweep, or 5+ minute sweep of 10+ points
✅- Third rating, ok sweep with 5 - 15 minute liquidity sweep, or lower-time-frame sweep of 10+ points
❄️ - Weakest sweep, with liquidity of 5 or less minutes swept
What makes this indicator different:
Designed with high performance in mind, to reduce impact on chart render time.
Only keeps valid liquidity levels & sweeps on the chart
Automatically removes previously taken liquidity levels
Ranks liquidity sweeps to indicate strength of the sweep
Simple Risk-to-Reward Multiplier A simple R/R indicator that allows you to input your entry price and stop loss (in ticks). Then, your take profit levels are R-multipliers based on your stop loss. You can have up to 5 take profit levels on your chart. There is also a function to indicate if it is a long or short setup. You can also set alerts with this script, allowing you the ability not to have to stare at the charts all day.
Falcon - Volume & Level reaction Falcon - Volume & Level Reaction
Our indicator, Falcon - Volume & Level Reaction, is designed to provide traders with comprehensive insights into price behavior through the calculation of horizontal volume profiles. By analyzing these profiles, the indicator identifies key levels and assesses price reactions, offering valuable trading signals.
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# Concept
The Falcon - Volume & Level Reaction indicator is built to help traders identify and capitalize on key market levels by analyzing volume profiles and price behavior. This indicator enhances trading strategies by providing clear signals based on robust analysis, allowing traders to make informed decisions and improve their trading outcomes.
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# Functions
1. Volume Profile Calculation
- Profile Period: Calculates horizontal volume profiles over a specified number of bars.
- Peak Volumes: Identifies peak volume levels based on the sensitivity parameter.
2. Price Behavior Analysis
- Primary Check: Determines if bars close above or below the peak level.
- Secondary Checks:
- Volume Decrease: Confirms a decrease in volume after the price touches the level.
- Volatility Check: Ensures bars do not exceed the average ATR range.
3. Signal Generation
- Combined Signals: The primary check generates initial long/short signals, while secondary checks strengthen these signals.
- Real-time Alerts: Provides "Potential" short or long signals based on the current candle's closure relative to the level.
4. Comprehensive Analysis: Helps identify multiple factors that validate level protection and potential price reversals.
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# Description of Checks
1. Primary Check: Price Closure
- This check assesses whether the bars close above or below the identified peak volume levels. If the price closes above the level, it generates a long signal; if it closes below, it generates a short signal. This check is fundamental as it directly indicates the price's interaction with significant volume levels.
2. Secondary Check 1: Volume Decrease
- After the price touches a peak volume level, this check verifies if there is a subsequent decrease in trading volume. A decrease in volume after touching the level suggests reduced market interest at that price, which can indicate potential reversals or continuations based on the overall market context.
3. Secondary Check 2: Volatility Check
- This check ensures that the price bars do not exceed the average ATR range after touching the peak volume level. Lower volatility near key levels indicates stability and strengthens the signal generated by the primary check, confirming the market's reaction to these levels.
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# How to Use the Indicator
1. Set Parameters: Define volume profile parameters such as profile period, number of peaks, and level sensitivity.
2. Analyze the Chart: Observe the peak volume levels displayed on the chart.
3. Receive Signals: Follow the buy or sell signals that appear when the price touches the level and the primary and secondary checks are met.
4. Respond to Alerts: When a "Potential" long or short signal appears, evaluate the closure of the current candle relative to the level to make a trading decision.
Example of Work
- Setup:
- Result:
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# Input Parameters
- Profile back: Defines the lookback period for volume profiles (10–500, step 1).
- Max Profile: Sets the maximum number of profiles (10–300, step 5).
- Profiles Length: Specifies the length of profiles (10–100, step 1).
- Profiles Offset: Determines the offset for profiles (0–100, step 1).
- Profiles Width: Sets the width of profiles (1–10).
- Profiles Color: Chooses the color for profiles.
- Lvls Color: Chooses the color for levels.
- Lvl's sensitivity: Adjusts the sensitivity of levels (1–10).
- tolerance: Sets the tolerance level (0.000–0.003, step 0.001).
- tolerance ATR: Defines the ATR tolerance (1.0–4.0).
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Falcon - Volume & Level Reaction
Индикатор на основе горизонтальных объемов помогает трейдерам выявлять ключевые уровни объемной проторговки, предоставляя четкие сигналы для принятия торговых решений.
Функции
– Определение и отображение пиковых уровней объемной проторговки.
– Сигналы на покупку (Long) и продажу (Short) на основе поведения цены.
– Анализ объема торгов до и после касания уровня.
– Оценка волатильности цены в период консолидации.
– Автоматическая подстройка под выбранный таймфрейм.
– Отображение локальных максимумов и минимумов.
Настройки
– Количество баров назад VRVP: определяет период для расчета горизонтальных объемов.
– Множитель ATR: коэффициент для вычисления волатильности.
– Множитель погрешности: допустимая погрешность касания уровня.
– Период расчета ATR: количество баров для расчета среднего ATR.
– Отображение Local HH/LL: включение/выключение отображения локальных максимумов и минимумов.
Версии
Данный скрипт – упрощенная версия нашего индикатора с закрытым доступом. Открытая версия доступна для BTC и ETH, только на дневном таймфрейме, без возможности изменения параметров
