OPEN-SOURCE SCRIPT
SMC & CMP Indicator v1
Fixed missing some SMN candles
The “SMC & CMP Indicator” is a powerful tool designed for traders who seek to capitalize on specific candlestick patterns indicative of potential market reversals or consolidations. This versatile indicator combines the detection of SMC (Significant Market Change) patterns and CMP (Compensation Point) candles into a single, user-friendly tool. It allows traders to independently monitor bullish, bearish, or both types of patterns simultaneously, depending on their trading strategies.
Features
• Dual Functionality: Seamlessly integrates two popular trading indicators – SMC and CMP – providing comprehensive market analysis.
• Customizable Settings: Users can choose to activate alerts for bullish, bearish, or both conditions for each type of pattern. This feature offers unmatched flexibility in tailoring the tool to various trading styles and market conditions.
• Visual Clarity: Uses distinct colors and markers to highlight the identified patterns directly on the trading chart, enhancing the visual experience and making it easier to spot potential trading opportunities.
• Adjustable Timeframes: Compatible with multiple timeframes, this indicator can be adjusted to work on minute-based intervals such as 15, 30, and 60 minutes, making it suitable for day traders and swing traders alike.
• Transparency and Precision: Each pattern type (SMC and CMP) is clearly defined within the script, ensuring that traders understand exactly what is being detected and displayed.
Use Case
The indicator is ideal for traders who:
• Monitor multiple patterns and require an efficient way to manage these observations without switching between different tools.
• Desire an in-depth analysis of market conditions to make informed decisions based on established candlestick patterns.
• Appreciate a clean and organized chart without the clutter of multiple indicators.
Technical Details
• SMC Detection: Identifies engulfing patterns where the current candle completely overlaps the range of the previous candle.
• CMP Detection: Looks for candles where the current candle’s high is lower and the low is higher than the previous one, indicating a pause or shift in market momentum.
• Color Coding: Bullish patterns are marked with a light blue color (#9cf5fb) at 20% transparency, while bearish patterns are highlighted in purple (#9a74e2) with similar transparency settings, aiding quick identification.
The “SMC & CMP Indicator” is a powerful tool designed for traders who seek to capitalize on specific candlestick patterns indicative of potential market reversals or consolidations. This versatile indicator combines the detection of SMC (Significant Market Change) patterns and CMP (Compensation Point) candles into a single, user-friendly tool. It allows traders to independently monitor bullish, bearish, or both types of patterns simultaneously, depending on their trading strategies.
Features
• Dual Functionality: Seamlessly integrates two popular trading indicators – SMC and CMP – providing comprehensive market analysis.
• Customizable Settings: Users can choose to activate alerts for bullish, bearish, or both conditions for each type of pattern. This feature offers unmatched flexibility in tailoring the tool to various trading styles and market conditions.
• Visual Clarity: Uses distinct colors and markers to highlight the identified patterns directly on the trading chart, enhancing the visual experience and making it easier to spot potential trading opportunities.
• Adjustable Timeframes: Compatible with multiple timeframes, this indicator can be adjusted to work on minute-based intervals such as 15, 30, and 60 minutes, making it suitable for day traders and swing traders alike.
• Transparency and Precision: Each pattern type (SMC and CMP) is clearly defined within the script, ensuring that traders understand exactly what is being detected and displayed.
Use Case
The indicator is ideal for traders who:
• Monitor multiple patterns and require an efficient way to manage these observations without switching between different tools.
• Desire an in-depth analysis of market conditions to make informed decisions based on established candlestick patterns.
• Appreciate a clean and organized chart without the clutter of multiple indicators.
Technical Details
• SMC Detection: Identifies engulfing patterns where the current candle completely overlaps the range of the previous candle.
• CMP Detection: Looks for candles where the current candle’s high is lower and the low is higher than the previous one, indicating a pause or shift in market momentum.
• Color Coding: Bullish patterns are marked with a light blue color (#9cf5fb) at 20% transparency, while bearish patterns are highlighted in purple (#9a74e2) with similar transparency settings, aiding quick identification.
Script open-source
In pieno spirito TradingView, l'autore di questo script lo ha pubblicato open-source, in modo che i trader possano comprenderlo e verificarlo. Un saluto all'autore! È possibile utilizzarlo gratuitamente, ma il riutilizzo di questo codice in una pubblicazione è regolato dal nostro Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.
Vuoi usare questo script sui tuoi grafici?
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.