Bounty Seeker

19 apr

Bounty Seeker - Advanced Market Structure & Order Block Detection

A sophisticated indicator that identifies high-probability reversal zones through the analysis of market structure, volume patterns, and institutional order blocks. This tool helps traders spot potential reversals and fake-outs with precision.

Core Components:

1. Pivot Detection System
• Smart pivot high/low identification
• Volume-enhanced confirmation
• RSI confluence validation
• Real-time market structure analysis

2. Order Block Detection
• Institutional buying/selling zones
• Historical support/resistance levels
• Smart volume threshold analysis
• Dynamic level adaptation

Signal Types:

1. Bull Pivots (White X)
• Strong volume confirmation
• RSI oversold conditions
• Price action validation
• Order block confluence

2. Bear Pivots (Purple X)
• Volume surge confirmation
• RSI overbought alignment
• Bearish price action
• Resistance zone validation

3. Fake Pivots (Orange X)
• Low volume warning signals
• Trap zone identification
• False breakout detection
• Risk management guide

Visual Elements:
• Dashed Lines: Order block zones
• White/Purple X's: Major pivot points
• Orange X's: Potential fake moves
• Dynamic support/resistance levels

Best Usage Practices:
• Most effective on 1H+ timeframes
• Focus on major market pairs
• Wait for complete signal formation
• Combine with trend direction
• Monitor volume confirmation
• Use proper position sizing

The indicator excels at:
1. Identifying potential reversal zones
2. Detecting institutional order blocks
3. Warning of potential fake moves
4. Providing clear entry/exit levels
5. Highlighting strong volume zones

Risk Management:
• Always wait for signal confirmation
• Use appropriate stop loss levels
• Consider multiple timeframe analysis
• Don't trade against major trends
• Monitor volume for validation

This indicator combines advanced market structure analysis with volume profiling to help traders identify high-probability trading opportunities while warning of potential traps and fake-outs.

Note: Past performance does not guarantee future results. Always use proper risk management techniques.

6 giorni fa

Note di rilascio

Bounty Seeker
Description:
Bounty Seeker is a unique price action and liquidity visualization tool designed to help traders identify high-probability reversal and revisit zones on any market and timeframe. This script combines three advanced concepts—major swing failure patterns (SFPs), significant single prints, and major pivots—into a single, clean, and efficient indicator.
What does it do?
Major SFPs (Swing Failure Patterns):
The script automatically detects and highlights major bullish and bearish SFPs at key support and resistance levels.
Bullish SFPs are shown as white dashed lines at major swing lows, indicating potential areas where price may reverse upward.
Bearish SFPs are shown as purple dashed lines at major swing highs, indicating potential areas where price may reverse downward.
SFPs are only drawn at significant pivots, filtering out noise and focusing on the most actionable levels.
Significant Single Prints:
The script identifies price levels where only a single bar traded at that price within a lookback window (a "single print"), which often act as magnets for future price action.
These are shown as blue dashed lines with moderate opacity and do not extend across the entire chart, keeping the display clean.
Only the most recent and significant single prints are shown, helping traders spot likely revisit zones.
Major Pivots:
The script marks major bullish and bearish pivots with "×" symbols:
White "×" below bars for major bullish pivots (potential support/reversal).
Purple "×" above bars for major bearish pivots (potential resistance/reversal).
Orange "×" for fake-out pivots, helping traders spot potential traps.
How does it work?
SFP Detection:
The script uses a configurable lookback period to find major swing highs and lows. It then checks for price wicks that break these levels but close back inside, confirming a swing failure. Only SFPs with a significant price move and sufficient spacing are shown, ensuring only the most relevant levels are highlighted.
Single Print Detection:
For each bar, the script checks if the high or low is unique within a configurable lookback window. If so, it draws a short blue dashed line at that price, indicating a potential future revisit zone.
Pivot Detection:
Major pivots are detected using a configurable lookback for swing highs/lows and volume/momentum filters. Fake-out pivots are also detected based on low volume and small candle bodies.
Why is it unique?
Noise Filtering:
Unlike most SFP or liquidity indicators, Bounty Seeker only shows the most significant and actionable levels, keeping your chart clean and focused.
Multi-Concept Integration:
By combining SFPs, single prints, and pivots, the script provides a comprehensive view of where price is likely to react, reverse, or revisit.
Customizable and Lightweight:
All lookbacks, line lengths, and opacities are fully adjustable, and the script is optimized for performance.
How to use:
Entry/Exit:
Use the SFP and single print levels as potential entry, exit, or take-profit zones. Watch for price reactions at these lines, especially when confirmed by the "×" pivot markers.
Confluence:
Look for confluence between SFPs, single prints, and pivots for higher-probability trades.
Customization:
Adjust the lookback and line settings to fit your market and timeframe.