Fibonacci Renko Trend - AynetThe "Fibonacci Renko Trend - Aynet" Pine Script combines the Renko charting technique with Fibonacci retracement levels to create a highly customizable and adaptive trend-following tool. Below is a detailed explanation of the script and its components:
Scientific and Trading Applications
Noise Reduction:
By using Renko charts, the script filters out time-based noise and focuses solely on price movement, making it ideal for trend-following strategies.
Adaptability:
The ATR-based box size ensures that the Renko blocks automatically adjust to market volatility, making the tool versatile for different market conditions and asset classes.
Fibonacci-Based Decision Making:
The integration of Fibonacci retracement levels provides a structured framework for identifying key support and resistance levels. Traders can use these levels to anticipate price reversals or continuations.
Visualization:
The color-coded Renko blocks allow traders to quickly identify trends and potential reversals without additional indicators, improving decision-making efficiency.
Possible Improvements
Signal Generation:
Add entry and exit signals when price crosses significant Fibonacci levels or when a trend reversal is detected.
Multi-Timeframe Support:
Extend the script to compute Renko levels and Fibonacci ratios for multiple timeframes simultaneously.
Alerts:
Implement alert notifications for key events, such as trend changes or Fibonacci level breaches.
This script is a robust tool for traders looking to combine the simplicity of Renko charts with the analytical power of Fibonacci retracement levels. It offers a clear visualization of price trends and potential reversal points, making it suitable for both novice and experienced traders.
Concept
Buy and Sell Signal at 50% Retracement, Based on MANDO MODELthe sell is taking out a previous high. leave some runners and practice safe trading.
Explanation of Behavior:
When the price retraces 50% of the defined range (from the low to high), a Buy signal is triggered.
After the Buy signal, if the price moves above the previous high (after retracement), a Sell signal is triggered.
Once a Sell signal is triggered, the range is reset, and a new range needs to form before another signal can be triggered.
Test this:
Apply the script to your chart.
Check for Buy signals when the price crosses the 50% retracement level.
Sell signals will trigger once the price breaks above the previous high after the retracement phase.
Ensure that the signals are plotted as arrows on the chart and that the background color changes to indicate Buy or Sell.
Alerts Setup:
To set up alerts:
Right-click on the chart and select Add Alert.
For Buy Signal: Choose the condition Buy and Sell Signal at 50% Retracement with Top Break > Buy Signal.
For Sell Signal: Choose the condition Buy and Sell Signal at 50% Retracement with Top Break > Sell Signal.
Set your preferred alert type (popup, email, etc.).
Click Create to set the alert.
Infinity Market Grid -AynetConcept
Imagine viewing the market as a dynamic grid where price, time, and momentum intersect to reveal infinite possibilities. This indicator leverages:
Grid-Based Market Flow: Visualizes price action as a grid with zones for:
Accumulation
Distribution
Breakout Expansion
Volatility Compression
Predictive Dynamic Layers:
Forecasts future price zones using historical volatility and momentum.
Tracks event probabilities like breakout, fakeout, and trend reversals.
Data Science Visuals:
Uses heatmap-style layers, moving waveforms, and price trajectory paths.
Interactive Alerts:
Real-time alerts for high-probability market events.
Marks critical zones for "buy," "sell," or "wait."
Key Features
Market Layers Grid:
Creates dynamic "boxes" around price using fractals and ATR-based volatility.
These boxes show potential future price zones and probabilities.
Volatility and Momentum Waves:
Overlay volatility oscillators and momentum bands for directional context.
Dynamic Heatmap Zones:
Colors the chart dynamically based on breakout probabilities and risk.
Price Path Prediction:
Tracks price trajectory as a moving "wave" across the grid.
How It Works
Grid Box Structure:
Upper and lower price levels are based on ATR (volatility) and plotted dynamically.
Dashed green/red lines show the grid for potential price expansion zones.
Heatmap Zones:
Colors the background based on probabilities:
Green: High breakout probability.
Blue: High consolidation probability.
Price Path Prediction:
Forecasts future price movements using momentum.
Plots these as a dynamic "wave" on the chart.
Momentum and Volatility Waves:
Shows the relationship between momentum and volatility as oscillating waves.
Helps identify when momentum exceeds volatility (potential breakouts).
Buy/Sell Signals:
Triggers when price approaches grid edges with strong momentum.
Provides alerts and visual markers.
Why Is It Revolutionary?
Grid and Wave Synergy:
Combines structural price zones (grid boxes) with real-time momentum and volatility waves.
Predictive Analytics:
Uses momentum-based forecasting to visualize what’s next, not just what’s happening.
Dynamic Heatmap:
Creates a living map of breakout/consolidation zones in real-time.
Scalable for Any Market:
Works seamlessly with forex, crypto, and stocks by adjusting the ATR multiplier and box length.
This indicator is not just a tool but a framework for understanding market dynamics at a deeper level. Let me know if you'd like to take it even further — for example, adding machine learning-inspired probability models or multi-timeframe analysis! 🚀
Multi-LTF Fisher Transform -AYNETJohn F. Ehlers is a renowned figure in the field of financial markets and technical analysis. With a strong background in engineering and digital signal processing (DSP), Ehlers has applied his expertise to the development of innovative technical indicators and trading systems. His work focuses on using mathematical concepts, particularly those from signal processing, to analyze financial data. THANKS.
Simple Explanation of the Code
This Pine Script code calculates and plots Fisher Transform values for up to 6 different timeframes. The user can enable or disable each timeframe, and each Fisher Transform line is displayed in a unique color. Labels at the end of the lines indicate the timeframe.
Key Components of the Code
User Inputs:
Timeframes: The user specifies up to 6 different timeframes (ltf_1, ltf_2, etc.).
Enable/Disable Options: The user can choose which timeframes to enable using checkboxes (enable_1, enable_2, etc.).
Fisher Transform Length: The number of periods (fisher_length) used to calculate the Fisher Transform.
Fisher Transform Calculation:
For each enabled timeframe, the Fisher Transform is calculated using the fisher_transform_func() function:
Lowest Low and Highest High over the given period are fetched.
The Fisher Transform formula normalizes the price and transforms it into an oscillating value.
Dynamic Plotting:
Each Fisher Transform is plotted in a unique color if the corresponding timeframe is enabled.
Labels are added at the end of the lines to indicate the timeframe (e.g., "15m", "1H").
Visual Enhancements:
Unique colors for each line (green, blue, orange, etc.).
Labels dynamically display the timeframe names.
What the Code Does
Calculates Fisher Transform:
For example, for a 15m timeframe:
Finds the lowest low and highest high over the specified period.
Applies the Fisher Transform formula to normalize and smooth the values.
Plots Active Timeframes:
Only the enabled timeframes are plotted.
Each enabled Fisher Transform is plotted as a separate line.
Adds Labels:
At the end of each plotted line, a label indicates which timeframe it represents.
How It Looks
Each active timeframe is displayed as a colored oscillating line on the chart.
Labels like "15m" or "1H" appear at the end of the lines.
Inactive timeframes are not shown.
User Interaction
Input Parameters:
Select the desired timeframes (e.g., "15m", "1H", "4H").
Enable or disable specific timeframes.
Adjust the Fisher Transform period length.
Output:
View Fisher Transform lines for active timeframes.
Use labels to identify which line corresponds to which timeframe.
Why It’s Useful
Multi-Timeframe Analysis:
Helps compare momentum across different timeframes.
Customizable:
Users can enable only the timeframes they want.
Visual Clarity:
Unique colors and labels make it easy to distinguish between timeframes.
If you need further simplifications or more details, feel free to ask! 😊
Position Size Calculator by Dr. Rahul Ware.Position Size Calculator
The Position Size Calculator script helps traders determine the optimal position size for their trades based on their account balance, risk percentage, and stop loss parameters. It calculates the number of shares to buy and the total position size in INR (Indian Rupees), providing a clear and concise way to manage risk effectively.
Key Features:
Account Balance Input: Specify your account balance in INR to tailor the position size calculations to your specific trading capital.
Risk Percentage Input: Define the percentage of your account balance you are willing to risk on each trade, ensuring you stay within your risk tolerance.
Stop Loss Options: Choose between using a fixed stop loss price or a stop loss percentage to calculate the risk amount per share.
Dynamic Stop Loss Line: The script plots a red dotted line representing the stop loss price on the chart, updating dynamically for the last bar.
Comprehensive Table Display: View key metrics, including account balance, risk percentage, amount at risk, current price, stop loss price, stop loss percentage, position size in INR, and the number of shares to buy, all in a neatly formatted table.
This tool is designed to enhance your trading strategy by providing precise position sizing, helping you manage risk effectively and make informed trading decisions. Use this script to optimize your trade sizes and improve your overall trading performance.
Smooth Price Oscillator [BigBeluga]The Smooth Price Oscillator by BigBeluga leverages John Ehlers' SuperSmoother filter to produce a clear and smooth oscillator for identifying market trends and mean reversion points. By filtering price data over two distinct periods, this indicator effectively removes noise, allowing traders to focus on significant signals without the clutter of market fluctuations.
🔵 KEY FEATURES & USAGE
● SuperSmoother-Based Oscillator:
This oscillator uses Ehlers' SuperSmoother filter, applied to two different periods, to create a smooth output that highlights price momentum and reduces market noise. The dual-period application enables a comparison of long-term and short-term price movements, making it suitable for both trend-following and reversion strategies.
// @function SuperSmoother filter based on Ehlers Filter
// @param price (float) The price series to be smoothed
// @param period (int) The smoothing period
// @returns Smoothed price
method smoother_F(float price, int period) =>
float step = 2.0 * math.pi / period
float a1 = math.exp(-math.sqrt(2) * math.pi / period)
float b1 = 2 * a1 * math.cos(math.sqrt(2) * step / period)
float c2 = b1
float c3 = -a1 * a1
float c1 = 1 - c2 - c3
float smoothed = 0.0
smoothed := bar_index >= 4
? c1 * (price + price ) / 2 + c2 * smoothed + c3 * smoothed
: price
smoothed
● Mean Reversion Signals:
The indicator identifies two types of mean reversion signals:
Simple Mean Reversion Signals: Triggered when the oscillator moves between thresholds of 1 and Overbought or between thresholds -1 and Ovesold, providing additional reversion opportunities. These signals are useful for capturing shorter-term corrections in trending markets.
Strong Mean Reversion Signals: Triggered when the oscillator above the overbought (upper band) or below oversold (lower band) thresholds, indicating a strong reversal point. These signals are marked with a "+" symbol on the chart for clear visibility.
Both types of signals are plotted on the oscillator and the main chart, helping traders to quickly identify potential trade entries or exits.
● Dynamic Bands and Thresholds:
The oscillator includes overbought and oversold bands based on a dynamically calculated standard deviation and EMA. These bands provide visual boundaries for identifying extreme price conditions, helping traders anticipate potential reversals at these levels.
● Real-Time Labels:
Labels are displayed at key thresholds and bands to indicate the oscillator’s status: "Overbought," "Oversold," and "Neutral". Mean reversion signals are also displayed on the main chart, providing an at-a-glance summary of current indicator conditions.
● Customizable Threshold Levels:
Traders can adjust the primary threshold and smoothing length according to their trading style. A higher threshold can reduce signal frequency, while a lower setting will provide more sensitivity to market reversals.
The Smooth Price Oscillator by BigBeluga is a refined, noise-filtered indicator designed to highlight mean reversion points with enhanced clarity. By providing both strong and simple reversion signals, as well as dynamic overbought/oversold bands, this tool allows traders to spot potential reversals and trend continuations with ease. Its dual representation on the oscillator and the main price chart offers flexibility and precision for any trading strategy focused on capturing cyclical market movements.
TrendGuard Scalper: SSL + Hama Candle with Consolidation ZonesThis TradingView script brings a powerful scalping strategy that combines the SSL Channel and Hama Candles indicators with a special twist—consolidation detection. Designed for traders looking for consistency in various markets like crypto, forex, and stocks, this strategy highlights clear trend signals, risk management, and helps filter out risky trades during consolidation periods.
Why Use This Strategy?
Clear Trend Detection:
With the SSL Channel, you’ll know exactly when the market is in an uptrend (green) or downtrend (red), giving you straightforward entry points.
Short-Term Trend Precision with Hama Candles:
By calculating unique EMAs for open, high, low, and close, the Hama Candles show the strength and direction of short-term trends. Combined with the Hama Line, it gives you a solid confirmation on whether the trend is strong or about to reverse, allowing for precise entries and exits.
Avoiding Choppy Markets:
Thanks to ATR-based consolidation detection, this strategy identifies low-volatility periods where the market is “choppy” and less predictable. During these times, a yellow background appears on the chart, warning you to hold off on trades, reducing the likelihood of entering losing trades.
Built-In Risk Management:
With adjustable Take Profit and Stop Loss levels based on price movements, you can set and forget your trades, with a safety net if the market turns against you. The strategy automatically closes positions if the price returns to the Hama Candle, keeping your risk low.
How It Works:
Long Position: When both the SSL and Hama indicators show a green trend, and the price is above the Hama Candles, the strategy opens a long position. Take Profit triggers at your chosen risk-to-reward ratio, while Stop Loss protects you just below the Hama Line.
Short Position: When both indicators align in red and the price is below the Hama Candles, the strategy opens a short. Similar to longs, Stop Loss is set just above the Hama Line, and Take Profit is at your defined level.
Start Trading Confidently
Test this strategy with different settings and discover how it can perform across various assets. Whether you're trading Bitcoin, forex pairs, or stocks, this system has the flexibility and robustness to help you spot profitable trends and avoid risky zones. Try it today on a 30-minute timeframe to see how it aligns with your trading goals, and let the consolidation detection guide you away from false signals.
Happy trading, and may the trends be with you! 📈
Percent Trend Change [BigBeluga]The Percent Trend Change indicator is a trend-following tool that provides real-time percentage changes during trends based on entry prices. Using John Ehlers’ Ultimate Smoother filter, it detects trend direction, identifies uptrends and downtrends, and tracks percentage changes during the trend. Additionally, it has a channel that can be toggled on or off, and the width can be customized, adding an extra visual layer to assess trend strength and direction.
NIFTY50:
META:
🔵 IDEA
The Percent Trend Change indicator helps traders visualize the progression of a trend with percentage changes from entry points. It identifies trends and marks percentage changes during the trend, making it easier to assess the strength and sustainability of the ongoing trend.
The use of John Ehlers' Ultimate Smoother filter helps detect trend changes based on consecutive price movements over five bars, making it highly responsive to short- and medium-term trends.
🔵 KEY FEATURES & USAGE
◉ Ultimate Smoother Filter for Trend Detection:
The trend is detected using the Ultimate Smoother filter. If the smoothed line rises five times in a row, the indicator identifies an uptrend. If it falls five times in a row, it identifies a downtrend.
◉ Trend Entry with Price Labels:
The indicator marks trend entry points with up (green) and down (red) triangles. These triangles are labeled with the entry price, allowing traders to track the starting price of the trend.
◉ Percentage Change Labels During Trends:
During a trend, the indicator periodically plots percentage change labels based on the bar period set in the settings.
In an uptrend, positive changes are marked in green, while negative changes are marked in orange. In a downtrend, negative changes are marked in red, while positive changes are marked in orange.
Each plotted percentage label also includes a count of the trend points, allowing traders to track how many times the percentage labels have been plotted during the current trend.
These percentage labels help traders understand how much the price has changed since the trend began and can be used to define potential take-profit targets.
◉ Channel Toggle and Width Customization:
The indicator includes a channel that visually highlights the trend. Traders can toggle this channel on or off, and the width of the channel can be adjusted to match individual preferences. The channel helps visualize the overall trend direction and the range within which price fluctuations occur.
🔵 CUSTOMIZATION
Smoother Length: Adjusts the length of the Ultimate Smoother filter, affecting how responsive the indicator is to price fluctuations.
Bars Percent: Defines how many bars must pass before a new percentage label is plotted. A smaller value plots labels more frequently, while a higher value shows fewer labels.
Channel Width & Show Channel: The width of the channel can be customized, and traders can toggle the channel on or off depending on their preferences.
Color Customization: Traders can customize the colors for the uptrend, downtrend, and percentage labels, providing flexibility in how the indicator is displayed on the chart.
By combining trend-following capabilities with percentage change tracking, the Percent Trend Change indicator offers a powerful tool for identifying trend direction and setting potential take-profit targets. The ability to customize the channel and percentage labels makes it adaptable to various trading strategies.
Innovative Market Direction SignalThe indicator is designed to help traders identify moments when price action, volatility, volume and certain time trends are aligned in a way that signals a high probability entry into the market in one direction or another.
General:
The indicator is superimposed on the price chart (overlay=true), which makes it more convenient for visual analysis of trading signals in the context of price levels.
The user can configure the parameters through the built-in interface (for example, "Lookback Period", "Buy Signal Threshold", "Sell Signal Threshold").
Main components and their functionality:
Parameters for the user:
window_size - the number of bars or candles for calculating various metrics.
buy_threshold and sell_threshold - threshold values for determining buy and sell signals.
Momentum Asymmetry:
The code calculates the difference between positive (upMomentum) and negative (downMomentum) price changes within the selected time window.
Using a loop, it adds or updates values to the corresponding arrays, checking whether the price is increasing (positive change) or decreasing (negative change).
After collecting the data, the average positive and negative price change over the period is calculated, their proportion and input into momentum_asymmetry. This is a measure of how much the current price movement deviates from the high of the current period.
Volatility Analysis:
The ta.tr function is used to calculate the true price range.
Then, the standard deviation (ta.stdev) is used to calculate the volatility over the specified period, which reflects the volatility of prices.
Volume Momentum:
The volume and price change are combined to find the volume momentum (current_volume_momentum).
If the volume is associated with a price increase, it is considered positive, otherwise it is considered negative.
Seasonal and cyclical changes:
The seasonal_index is calculated, which reflects the time between the current timestamp and the beginning of the analyzed time window (window_size), divided by the time between the current timestamp and the previous candlestick.
Combined signal:
All calculated components (momentum asymmetry, volume momentum, volatility and seasonal index) are summed up in combined_signal.
Buy signals (buy_signal) and sell signals (sell_signal) are generated depending on the thresholds set by the user.
Visualization:
The plotshape indicator displays green circles (buy signals) above the bar and red circles (sell signals) below the bar.
The plot function outputs the combined_signal line to visualize the combined indicator.
Atlas Trend Position TableAtlas Trend Position Table
This script provides an easy-to-understand position overview for traders, including key metrics such as entry price, potential profit, potential loss, and current profit/loss (PnL). It’s designed to help traders manage their open positions effectively, especially when using leverage.
Inputs:
Order Size ($): The total amount of capital used for the trade.
Entry Price: The price at which the trade was entered.
Stop Loss: The price level at which the trade will be exited to prevent further losses.
Take Profit: The price level where the trader aims to take profits.
Leverage: The multiplier for leveraged trading.
Commission (%): The commission fee applied to each trade.
Key Features:
Position Value Calculation: The script calculates the total position value by taking into account the leverage used in the trade.
Potential Profit and Loss:
Potential profit is calculated based on the difference between the take profit and the entry price, adjusted for commission.
Potential loss is calculated similarly, using the stop loss, and includes the effect of commission.
Real-Time Profit/Loss: The script also calculates real-time profit or loss using the current market price, factoring in leverage and commission.
Dynamic Background Colors:
The PnL background color dynamically adjusts: green when in profit, red when in loss. This provides a quick visual cue to assess the current trade status.
Table Display:
The output is shown in a table positioned on the right side of the chart. It contains the following information:
Entry Price: Displays the trade’s entry price.
Order Size ($): Shows the total leveraged position value.
Potential Profit: The potential profit from the trade based on the take profit level.
Potential Loss: The potential loss from the trade based on the stop loss level.
Current PnL: Displays the current profit or loss based on the live market price.
How to Use:
Input your trade details in the settings menu, including your entry price, stop loss, take profit, and leverage.
The script will automatically calculate and display the potential outcomes and live PnL.
Use the visual indicators to monitor the status of your open position and adjust your strategy accordingly.
This tool is designed to be simple, effective, and user-friendly, providing traders with the essential data they need for better risk management and decision-making.
ICT CheckListCredit to the owner of this script "TalesOfTrader"
The Awakening Checklist indicator is a tool designed to help traders evaluate certain key market conditions and elements before making trading decisions. It consists of a series of questions that the trader must answer using the options "Yes", "No" or "N/A" (not applicable).
“Has Asia Session ended?” : This question aims to determine if the Asian trading session has ended. The answer to this question can influence trading strategies depending on market conditions.
“Have you identified potential medium induction?” : This question concerns the identification of potential average inductions on the market. Recognizing these inductions can help traders anticipate future price movements.
"Have you identified potential PoI's": This question asks about the identification of potential points of interest on the market. These points of interest can indicate areas of significant support or resistance.
"Have you identified in which direction they are creating lQ?" : This question aims to determine in which direction market participants create liquidity (lQ). Understanding this dynamic can help make informed trade decisions.
“Have they induced Asia Range”: This question concerns the induction of the Asian range by market participants. Recognizing this induction can be important in assessing future price movements.
“Have you had a medium induction”: This question asks about the presence of a medium induction on the market. The answer to this question can influence trading prospects.
“Do you have a BoS away from the induction”: This question aims to find out if the trader has an offer (BoS) far from the identified induction. This can be a risk management strategy.
"Doas your induction PoI have imbalance": This question concerns the imbalance of points of interest (PoI) linked to induction. Recognizing this imbalance can help anticipate price movements.
“Do you have a valid target in mind”: This question aims to find out if the trader has a clear trading objective in mind. Having a goal can help guide trading decisions and manage risk.
Forex - Lot size calculatorThis indicator is specifically designed for Forex traders who need a convenient lot size calculator directly on their charts. It allows users to input their account balance, risk percentage, and stop-loss distance in pips to easily determine the appropriate lot size for a given trade, ensuring effective risk management.
Key Features:
Lot Size Calculation: Automatically calculates the lot size based on user-defined inputs: account balance, risk percentage, and stop-loss distance.
Error Handling: The indicator only works with Forex pairs. If applied to non-Forex assets, a clear and prominent red error message will appear in the bottom-right corner of the chart, reminding the user that this script is intended exclusively for Forex trading.
Simple Visualization: The calculated lot size is displayed in an easy-to-read table directly on the chart.
How to Use:
Add the indicator to a Forex chart.
Enter your account balance, risk percentage, and stop-loss pips in the input fields.
The indicator will display the calculated lot size for the chosen Forex pair.
Important Notes:
This script is intended only for Forex assets. If used on other instruments (e.g., stocks, crypto, indices), an error message will be shown.
Always validate lot sizes with your broker, as there can be slight variations depending on broker specifications and leverage settings.
(Early Test) Weekly Seasonality with Dynamic Kelly Criterion# Enhancing Trading Strategies with the Weekly Seasonality Dynamic Kelly Criterion Indicator
Amidst this pursuit to chase price, a common pitfall emerges: an overemphasis on price movements without adequate attention to risk management, probabilistic analysis, and strategic position sizing. To address these challenges, I developed the **Weekly Seasonality with Dynamic Kelly Criterion Indicator**. It is designed to refocus traders on essential aspects of trading, such as risk management and probabilistic returns, thereby catering to both short-term swing traders and long-term investors aiming for tax-efficient positions.
## The Motivation Behind the Indicator
### Overemphasis on Price: A Common Trading Pitfall
Many traders concentrate heavily on price charts and technical indicators, often neglecting the underlying principles of risk management and probabilistic analysis. This overemphasis on price can lead to:
- **Overtrading:** Making frequent trades based solely on price movements without considering the associated risks.
- **Poor Risk Management:** Failing to set appropriate stop-loss levels or position sizes, increasing the potential for significant losses.
- **Emotional Trading:** Letting emotions drive trading decisions rather than objective analysis, which can result in impulsive and irrational trades.
### The Need for Balanced Focus
To achieve sustained trading success, it is crucial to balance price analysis with robust risk management and probabilistic strategies. Key areas of focus include:
1. **Risk Management:** Implementing strategies to protect capital, such as setting stop-loss orders and determining appropriate position sizes based on risk tolerance.
2. **Probabilistic Analysis:** Assessing the likelihood of various market outcomes to make informed trading decisions.
3. **Swing Trading Percent Returns:** Capitalizing on short- to medium-term price movements by buying assets below their average return and selling them above.
## Introducing the Weekly Seasonality with Dynamic Kelly Criterion Indicator
The **Weekly Seasonality with Dynamic Kelly Criterion Indicator** is designed to integrate these essential elements into a comprehensive tool that aids traders in making informed, risk-aware decisions. Below, we explore the key components and functionalities of this indicator.
### Key Components of the Indicator
1. **Average Return (%)**
- **Definition:** The mean percentage return for each week across multiple years.
- **Purpose:** Serves as a benchmark to identify weeks with above or below-average performance, guiding buy and sell decisions.
2. **Positive Percentage (%)**
- **Definition:** The proportion of weeks that yielded positive returns.
- **Purpose:** Indicates the consistency of positive returns, helping traders gauge the reliability of certain weeks for trading.
3. **Volatility (%)**
- **Definition:** The standard deviation of weekly returns.
- **Purpose:** Measures the variability of returns, providing insights into the risk associated with trading during specific weeks.
4. **Kelly Ratio**
- **Definition:** A mathematical formula used to determine the optimal size of a series of bets to maximize the logarithmic growth of capital.
- **Purpose:** Balances potential returns against risks, guiding traders on the appropriate position size to take.
5. **Adjusted Kelly Fraction**
- **Definition:** The Kelly Ratio adjusted based on user-defined risk tolerance and external factors like Federal Reserve (Fed) stance.
- **Purpose:** Personalizes the Kelly Criterion to align with individual risk preferences and market conditions, enhancing risk management.
6. **Position Size ($)**
- **Definition:** The calculated amount to invest based on the Adjusted Kelly Fraction.
- **Purpose:** Ensures that position sizes are aligned with risk management strategies, preventing overexposure to any single trade.
7. **Max Drawdown (%)**
- **Definition:** The maximum observed loss from a peak to a trough of a portfolio, before a new peak is attained.
- **Purpose:** Assesses the worst-case scenario for losses, crucial for understanding potential capital erosion.
### Functionality and Benefits
- **Weekly Data Aggregation:** Aggregates weekly returns across multiple years to provide a robust statistical foundation for decision-making.
- **Quarterly Filtering:** Allows users to filter weeks based on quarters, enabling seasonality analysis and tailored strategies aligned with specific timeframes.
- **Dynamic Risk Adjustment:** Incorporates the Dynamic Kelly Criterion to adjust position sizes in real-time based on changing risk profiles and market conditions.
- **User-Friendly Visualization:** Presents all essential metrics in an organized Summary Table, facilitating quick and informed decision-making.
## The Origin of the Kelly Criterion and Addressing Its Limitations
### Understanding the Kelly Criterion
The Kelly Criterion, developed by John L. Kelly Jr. in 1956, is a formula used to determine the optimal size of a series of bets to maximize the long-term growth of capital. The formula considers both the probability of winning and the payout ratio, balancing potential returns against the risk of loss.
**Kelly Formula:**
\
Where:
- \( b \) = the net odds received on the wager ("b to 1")
- \( p \) = probability of winning
- \( q \) = probability of losing ( \( q = 1 - p \) )
### The Risk of Ruin
While the Kelly Criterion is effective in optimizing growth, it carries inherent risks:
- **Overbetting:** If the input probabilities or payout ratios are misestimated, the Kelly Criterion can suggest overly aggressive position sizes, leading to significant losses.
- **Assumption of Constant Probabilities:** The criterion assumes that probabilities remain constant, which is rarely the case in dynamic markets.
- **Ignoring External Factors:** Traditional Kelly implementations do not account for external factors such as Federal Reserve rates, margin requirements, or market volatility, which can impact risk and returns.
### Addressing Traditional Limitations
Recognizing these limitations, the **Weekly Seasonality with Dynamic Kelly Criterion Indicator** introduces enhancements to the traditional Kelly approach:
- **Incorporation of Fed Stance:** Adjusts the Kelly Fraction based on the current stance of the Federal Reserve (neutral, dovish, or hawkish), reflecting broader economic conditions that influence market behavior.
- **Margin and Leverage Considerations:** Accounts for margin rates and leverage, ensuring that position sizes remain within manageable risk parameters.
- **Dynamic Adjustments:** Continuously updates position sizes based on real-time risk assessments and probabilistic analyses, mitigating the risk of ruin associated with static Kelly implementations.
## How the Indicator Aids Traders
### For Short-Term Swing Traders
Short-term swing traders thrive on capitalizing over weekly price movements. The indicator aids them by:
- **Identifying Favorable Weeks:** Highlights weeks with above-average returns and favorable volatility, guiding entry and exit points.
- **Optimal Position Sizing:** Utilizes the Adjusted Kelly Fraction to determine the optimal amount to invest, balancing potential returns with risk exposure.
- **Probabilistic Insights:** Provides metrics like Positive Percentage (%) and Kelly Ratio to assess the likelihood of favorable outcomes, enhancing decision-making.
### For Long-Term Tax-Free Investors
This is effectively a drop-in replacement for DCA which uses fixed position size that doesn't change based on market conditions, as a result, it's like catching multiple falling knifes by the blade and smiling with blood on your hand... I don't know about you, but I'd rather juggle by the hilt and look like an actual professional...
Long-term investors, especially those seeking tax-free positions (e.g., through retirement accounts), benefit from:
- **Consistent Risk Management:** Ensures that position sizes are aligned with long-term capital preservation strategies.
- **Seasonality Analysis:** Allows for strategic positioning based on historical performance trends across different weeks and quarters.
- **Dynamic Adjustments:** Adapts to changing market conditions, maintaining optimal risk profiles over extended investment horizons.
### Developers
Please double check the logic and functionality because I think there are a few issue and I need to crowd source solutions and be responsible about the code I publish. If you have corrections, please DM me or leave a respectful comment.
I want to publish this by the end of the year and include other things like highlighting triple witching weeks, adding columns for volume % stats, VaR and CVaR, alpha, beta (to see the seasonal alpha and beta based off a benchmark ticker and risk free rate ticker and other little goodies.
RSI with Swing Trade by Kelvin_VAlgorithm Description: "RSI with Swing Trade by Kelvin_V"
1. Introduction:
This algorithm uses the RSI (Relative Strength Index) and optional Moving Averages (MA) to detect potential uptrends and downtrends in the market. The key feature of this script is that it visually changes the candle colors based on the market conditions, making it easier for users to identify potential trend swings or wave patterns.
The strategy offers flexibility by allowing users to enable or disable the MA condition. When the MA condition is enabled, the strategy will confirm trends using two moving averages. When disabled, the strategy will only use RSI to detect potential market swings.
2. Key Features of the Algorithm:
RSI (Relative Strength Index):
The RSI is used to identify potential market turning points based on overbought and oversold conditions.
When the RSI exceeds a predefined upper threshold (e.g., 60), it suggests a potential uptrend.
When the RSI drops below a lower threshold (e.g., 40), it suggests a potential downtrend.
Moving Averages (MA) - Optional:
Two Moving Averages (Short MA and Long MA) are used to confirm trends.
If the Short MA crosses above the Long MA, it indicates an uptrend.
If the Short MA crosses below the Long MA, it indicates a downtrend.
Users have the option to enable or disable this MA condition.
Visual Candle Coloring:
Green candles represent a potential uptrend, indicating a bullish move based on RSI (and MA if enabled).
Red candles represent a potential downtrend, indicating a bearish move based on RSI (and MA if enabled).
3. How the Algorithm Works:
RSI Levels:
The user can set RSI upper and lower bands to represent potential overbought and oversold levels. For example:
RSI > 60: Indicates a potential uptrend (bullish move).
RSI < 40: Indicates a potential downtrend (bearish move).
Optional MA Condition:
The algorithm also allows the user to apply the MA condition to further confirm the trend:
Short MA > Long MA: Confirms an uptrend, reinforcing a bullish signal.
Short MA < Long MA: Confirms a downtrend, reinforcing a bearish signal.
This condition can be disabled, allowing the user to focus solely on RSI signals if desired.
Swing Trade Logic:
Uptrend: If the RSI exceeds the upper threshold (e.g., 60) and (optionally) the Short MA is above the Long MA, the candles will turn green to signal a potential uptrend.
Downtrend: If the RSI falls below the lower threshold (e.g., 40) and (optionally) the Short MA is below the Long MA, the candles will turn red to signal a potential downtrend.
Visual Representation:
The candle colors change dynamically based on the RSI values and moving average conditions, making it easier for traders to visually identify potential trend swings or wave patterns without relying on complex chart analysis.
4. User Customization:
The algorithm provides multiple customization options:
RSI Length: Users can adjust the period for RSI calculation (default is 4).
RSI Upper Band (Potential Uptrend): Users can customize the upper RSI level (default is 60) to indicate a potential bullish move.
RSI Lower Band (Potential Downtrend): Users can customize the lower RSI level (default is 40) to indicate a potential bearish move.
MA Type: Users can choose between SMA (Simple Moving Average) and EMA (Exponential Moving Average) for moving average calculations.
Enable/Disable MA Condition: Users can toggle the MA condition on or off, depending on whether they want to add moving averages to the trend confirmation process.
5. Benefits of the Algorithm:
Easy Identification of Trends: By changing candle colors based on RSI and MA conditions, the algorithm makes it easy for users to visually detect potential trend reversals and trend swings.
Flexible Conditions: The user has full control over the RSI and MA settings, allowing them to adapt the strategy to different market conditions and timeframes.
Clear Visualization: With the candle color changes, users can quickly recognize when a potential uptrend or downtrend is forming, enabling faster decision-making in their trading.
6. Example Usage:
Day traders: Can apply this strategy on short timeframes such as 5 minutes or 15 minutes to detect quick trends or reversals.
Swing traders: Can use this strategy on longer timeframes like 1 hour or 4 hours to identify and follow larger market swings.
Smooth Cloud [BigBeluga]This trend-following indicator, called Smooth Cloud, is built on top of a SuperSmoother Filter of John Ehlers with small modification.
It consists of three smoothed lines—Fast, Middle, and Slow—that together form a cloud. These lines are based on different periods, helping traders analyze market changes over different timeframes (fast, mid, and slow). The indicator offers a color-coded visual cloud to depict trend direction, along with a detailed dashboard that shows the positioning of the lines, whether they are rising or falling, and their price levels.
🔵 IDEA
The Smooth Cloud indicator is designed to help traders quickly assess the market trend by using three smoothed lines with varying periods. The lines represent fast, mid, and slow market changes, and their relative positioning provides a clear view of trend shifts. The dashboard gives a more granular view by showing if the lines are rising or falling individually, without comparing them to each other, providing insights into potential trend changes before they are fully formed. The color-coded cloud further enhances the visual experience by allowing traders to see trend direction at a glance, making it easier to spot major and minor shifts in the market.
🔵 KEY FEATURES & USAGE
◉ Three Smoothed Lines (Fast, Mid, Slow):
The indicator consists of three smoothed lines, each representing a different periods. The Fast line reacts more quickly to price changes, while the Slow line reacts more slowly, allowing traders to capture both short-term and long-term trend information. The lines are based on different lengths, and their positioning relative to each other helps determine market direction.
◉ Color-Coded Cloud:
The cloud formed between the lines is color-coded to indicate trend direction. When the Fast line is above the Slow line, it signals an upward trend, and the cloud is green. When the Fast line is below the Slow line, the cloud turns red, indicating a downward trend. This color coding makes it easy to spot the overall trend direction visually without having to analyze the lines in detail.
◉ Dashboard for Line Positioning and Trend Direction:
A dashboard in the top right corner of the chart shows the positioning of the Fast, Middle, and Slow lines relative to each other. It displays arrows for each line to indicate whether the line is above or below the other lines. For exae determines its trend direction based on its position to mid line — if it's above, an upward arrow is displayed, and if it's below mid line, a downward arrow is shown.mple, if the Fast line is above the Slow line, the dashboard shows an upward arrow for the Fast line. The Slow lin
Up trend:
Up trend shift:
Down trend shift:
Down Trend:
◉ Rising and Falling Detection:
The dashboard also tracks whether the lines are rising or falling based solely on their own values. If a line rises or falls consistently over three bars, the dashboard shows an upward or downward arrow under the "Rising or Falling" section. This feature provides additional insight into the market's momentum, allowing traders to spot potential trend reversals more quickly.
◉ Price Levels for Fast, Middle, and Slow Lines:
The dashboard includes the price levels for the Fast, Middle, and Slow lines, displayed at the bottom. These levels give traders a quick reference for where the lines are currently positioned relative to the price, adding further context to the trend information displayed.
◉ Fast Signals:
The fast signals are diplayed when fast line crosses slow line. Gree arrows up shows fast line crossed over slow and when arrow down fast line crossed under slow one.
🔵 CUSTOMIZATION
Length Input: You can adjust the length parameter, which affects the smoothing period for the lines. A shorter length makes the lines react more quickly to price changes, while a longer length provides a smoother, more gradual response.
Source Input: The indicator uses the hl2 source (the average of the high and low prices), but you can change this to another source to better suit your trading strategy.
Signals Type: Select between "Fast" and "Slow". Fast signals - is interaction of fast and slow lines. Slow signals is interaction of mid and slow lines
Related script:
itradesize /\ Previous Liquidity x ICTI’d like to introduce a clean and simple RTH gap and liquidity levels indicator with additional Asian and London ranges, along with standard deviation levels and many customizable options.
Previous D/W/M highs and lows are areas where liquidity tends to accumulate. This is because many traders place stop-loss orders around these levels, creating a concentration of buy stops above the previous day's high and sell stops below the previous day's low. High-frequency trading algorithms and institutional traders often target these areas to capture liquidity.
What the indicator could show in summary?
- Regular trading hours gap with deviations
- Asia with deviations (lines or boxes)
- London with deviations (lines or boxes)
- Weekdays on chart
- 3 AM candle marker
- Previous D/W/M levels
- Important opening times (08:00, 09:30, 10:00, 14:00, 00:00, 18:00)
- Daily separators
By marking out the previous day's highs and lows, traders can create a framework for their trading day. This helps in identifying potential setups and understanding where significant price action might occur. It also aids in filtering out noise and focusing on the most relevant price levels.
These levels can also act as potential reversal points. When the market reaches a previous high or low, it might reverse direction, especially if it has raided the liquidity resting there. This concept is part of a strategy where traders look for the market to raid these levels and then reverse, providing trading opportunities
The indicator shows previous liquidity levels on a daily, weekly, and monthly basis. It also displays opening times at 8:30, 9:30-10:00, 14:00-00:00, and 18:00. Opening times are crucial in trading because they help define specific periods when market activity is expected to be higher, which can lead to better trading opportunities. The script has been made mostly for indices.
You can create various entry and exit strategies based on the indicator. Please remember, that adequate knowledge of ICT is necessary for this to be beneficial.
You might wonder why only these times are shown. This is because these are the times when the futures market is active or should be active. It's important to note that opening times can vary between different asset classes.
18:00 A new daily candle open
00:00 Midnight open
02:00 New 4-hour candle open
08:30 High-impact news
09:30 NY Equities open
10:00 New 4-hour candle open
The concept of "Asian Killzone Standard Deviations" involves using the Asian trading session's price range to project potential price movements during subsequent trading sessions, such as the London or New York sessions. This is done by calculating standard deviations from the Asian range, which can help traders identify potential support and resistance levels.
You can create a complete model by exclusively focusing on the Asian time zone. Deviations within this zone may have varying impacts on future price movements, and the Interbank Price Delivery Agreement (IPDA) often reflects Asia's high, close, and low prices.
A similar approach can be taken with the London time zone. The standard deviation levels within each zone could potentially serve as support or indicate reversals, including liquidity hunts. It's important to backtest these ideas to gain reliable insights into when and where to apply them.
* Asian Range: This is the price range established during the Asian trading session. It serves as a reference point for calculating standard deviations.
* London Range: The same applies to the London range as well. Combine standard deviation projections with other technical analysis tools, such as order blocks or fair value gaps, to enhance accuracy.
* Standard Deviations: These are statistical measures that indicate the amount of variation or dispersion from the average. In trading, they are used to project potential price levels beyond the current range.
You can also use regular trading hours gap as a standalone model. The 4 STDV and 2.5 STDV levels are important for determining the high or low of the current price action.
The RTH gap is created when there is a difference between the closing price of a market at the end of one trading day and the opening price at the start of the next trading day. This gap can be upward (gap higher), downward (gap lower), or unchanged. It is significant because it often indicates market sentiment and can create inefficiencies that traders look to exploit.
Alternatively, you can combine these elements to create a complete strategy for different scenarios.
ICT NY Silver Bullet SessionsThe ICT NY Silver Bullet Sessions refer to two specific time windows within the New York trading session, during which traders aim to exploit short-term, high-probability price movements, particularly using price-action techniques inspired by the Inner Circle Trader (ICT) methodology. These sessions are typically associated with a higher likelihood of volatility and liquidity due to their proximity to key market hours, making them ideal for scalping or intraday trading strategies.
The Silver Bullet concept emphasizes precise entries and exits, taking advantage of institutional trading behaviors and order flow within these two specific time windows:
(I) The AM Silver Bullet Session (10:00 AM – 11:00 AM EST)
Time Frame: This session runs from 10:00 AM to 11:00 AM Eastern Standard Time (EST).
Significance: During this hour, the New York Stock Exchange (NYSE) has been open for about 30 minutes, which typically generates volatility as the market reacts to overnight price movements, economic news, or early U.S. session developments. Traders look for institutional price action setups like stop runs, liquidity grabs, or reversals.
Key Considerations: Traders often focus on major indices (such as the S&P 500 or NASDAQ), forex pairs, or commodities like gold and silver. The AM session is especially important for catching trends or retracements established in the London session or the early New York market hours.
(II) The PM Silver Bullet Session (02:00 PM – 03:00 PM EST)
Time Frame: This session occurs from 2:00 PM to 3:00 PM Eastern Standard Time (EST).
Significance: Known as the afternoon session, this time period aligns with institutional rebalancing and pre-close positioning, where significant liquidity enters the market as traders anticipate the upcoming New York close and London close (which happens at 11:00 AM EST). It is also a common time for institutional traders to initiate price moves that carry through into the end of the trading day.
Key Considerations: Traders monitor for key reversals, liquidity sweeps, or continuations of earlier trends. This is a prime time for trading major currencies and indices, as well as commodities like crude oil and metals, with a focus on exploiting liquidity imbalances.
DILM TRADING - Market Sentiment and FibonacciDILM TRADING - Market Sentiment and Fibonacci
Overview
The DILM TRADING - Market Sentiment and Fibonacci indicator is designed to provide traders with a comprehensive view of market trends and potential trading opportunities. By combining several popular technical indicators such as the SuperTrend, Fibonacci levels, and multiple sentiment indicators, this tool offers a deep analysis of market dynamics. Each component has been carefully selected to work in harmony, providing users with reliable entry and exit signals and helping them navigate volatile markets.
Why This Combination?
This indicator brings together different elements with specific purposes:
SuperTrend: A trend-following indicator that helps identify the market's current direction and acts as a dynamic stop-loss tool.
Fibonacci Levels: Known for pinpointing potential market reversal points, these levels provide crucial support and resistance areas for traders to set stop-losses and take-profits.
Sentiment Indicators: Tools like RSI, MACD, and Ichimoku are combined to gauge market momentum, allowing traders to assess whether a market is overbought or oversold, and whether the current trend is strong enough to continue or reverse.
The combination of these indicators gives traders a complete framework for analyzing the market: trend direction, market sentiment, and key price levels. Each of these elements works in tandem to provide signals that are both timely and accurate.
Key Features
SuperTrend
Based on the Average True Range (ATR), the SuperTrend indicator is an excellent way to determine the current trend. If the price is above the SuperTrend line, it suggests an uptrend, whereas if the price is below it, a downtrend is indicated. It is also a highly effective tool for setting trailing stop-losses, thereby improving risk management.
Fibonacci Levels
The script automatically calculates Fibonacci retracement levels based on the highest and lowest points within a specific timeframe. These levels are essential for identifying potential reversal zones, key areas for stop-losses, and take-profit levels. The levels adjust according to the prevailing trend, making them a dynamic and responsive tool for any market condition.
Sentiment Indicators
This section integrates multiple sentiment indicators to give a holistic view of market direction:
Ichimoku Cloud: Measures the strength of trends and identifies potential reversal zones using clouds (Kumo).
OBV (On-Balance Volume): Tracks volume changes to confirm the direction of price movements.
CMF (Chaikin Money Flow): Monitors the money flow to identify buying or selling pressure.
RSI (Relative Strength Index): Highlights overbought or oversold conditions, signaling potential trend reversals.
MACD: A reliable tool for identifying bullish and bearish crossovers.
ADX (Average Directional Index): Determines the strength of the prevailing trend, helping to confirm whether it's likely to continue or weaken.
Volatility Filter
The ATR (Average True Range) acts as a filter to identify periods of high or low volatility, helping traders to adapt their strategies to the current market environment. High volatility suggests larger price swings, potentially offering better trading opportunities, while low volatility indicates consolidation or range-bound conditions.
Order Blocks
The script visually identifies bullish and bearish order blocks on the chart. These zones represent areas where significant buying or selling occurred, making them crucial for spotting potential breakout or reversal points.
How to Use
Entry/Exit: Fibonacci levels (50% or 61.8%) serve as potential entry points, while the 0% and 100% levels can be used to set take-profit and stop-loss levels.
Sentiment Analysis: The overall market sentiment is derived from the combination of Ichimoku, OBV, CMF, RSI, ADX, and other tools, helping traders make informed decisions on whether to buy or sell.
Risk Management: Use SuperTrend and Fibonacci levels to set precise stop-loss points and improve risk management.
New Feature: Moving Average and RSI Confirmation
A recent addition allows users to calculate two moving averages (short and long) and the RSI on a timeframe of their choice. An entry signal is generated when the short moving average crosses above the long, and the RSI is below a specific threshold. Conversely, a sell signal is displayed when the short moving average crosses below the long, and the RSI is above a defined level.
Limitations
This indicator may be less effective during periods of low volatility or range-bound markets. It's important to use this tool in conjunction with other analysis techniques, as relying on a single indicator could lead to false signals.
DILM TRADING - Sentiment de marché et Fibonacci
Vue d'ensemble
L'indicateur DILM TRADING - Sentiment de marché et Fibonacci a été conçu pour offrir une vue d'ensemble des tendances du marché et des opportunités de trading potentielles. En combinant plusieurs indicateurs techniques populaires, tels que le SuperTrend, les niveaux de Fibonacci, et divers indicateurs de sentiment, cet outil fournit une analyse complète des dynamiques du marché. Chaque composant a été soigneusement sélectionné pour fonctionner ensemble, offrant des signaux d'entrée et de sortie fiables.
Pourquoi cette combinaison ?
Cette combinaison d'indicateurs permet de fournir un cadre complet pour analyser le marché. Le SuperTrend permet d'identifier la tendance, tandis que les niveaux de Fibonacci aident à déterminer les zones de retournement clés. Les indicateurs de sentiment, comme le RSI et le MACD, ajoutent une dimension supplémentaire en mesurant la force et la direction du marché.
Caractéristiques clés et Utilisation
SuperTrend : Indique la tendance actuelle et propose des niveaux de stop-loss dynamiques.
Niveaux de Fibonacci : Utilisés pour repérer des points de retournement potentiels et définir des niveaux de stop-loss et de take-profit.
Indicateurs de Sentiment : Outils comme l'Ichimoku, le RSI, et l'ADX fournissent une analyse globale du marché, permettant de prendre des décisions éclairées.
Nouvelle fonctionnalité : Confirmation des Moyennes Mobiles et RSI
Cette fonctionnalité permet d'utiliser deux moyennes mobiles et le RSI pour générer des signaux d'achat et de vente basés sur les croisements et les niveaux de surachat/survente du RSI.
Conclusion
Le DILM TRADING - Sentiment de marché et Fibonacci est un outil puissant et polyvalent, conçu pour les traders cherchant à affiner leurs stratégies grâce à une analyse complète des tendances et du sentiment du marché.
True Day Open1. *nyTime*: Converts the current time to the New York timezone.
2. *nyHour and nyMinute*: Extracts the hour and minute of the current candle in the New York timezone.
3. *isNyMidnightCandle*: A boolean variable that checks if the current candle is the 12:00 AM candle in New York.
4. *bgcolor*: Colors the background of the 12:00 AM candle blue.
5. *plotshape*: Optionally, you can mark the 12:00 AM candle with a blue label above the bar for better visibility.
You can copy and paste this code into the Pine Editor on TradingView and apply it to your chart. Make sure your chart is set to the 5-minute timeframe.
Maximum Bar Range in TicksThis is a simple indicator that gives the maximum range of any bar on the chart in ticks. I found it useful when sizing arrays and it might also be valuable when working out risk parameters.
Engulfing Candle Indicator with SweepTHIS IS ENGULFED SWEEP CANDLE
This TradingView indicator identifies and highlights bullish and bearish engulfing candlestick patterns with an additional condition: the recent candle must "sweep" the high or low of the previous candle. This refined approach helps to confirm the strength of the engulfing pattern by ensuring that the current candle extends beyond the previous candle's range.
Features:
- **Bullish Engulfing Detection**: Identifies a bullish engulfing pattern where the current candle fully engulfs the previous candle's body, and the low of the current candle is below the low of the previous candle.
- **Bearish Engulfing Detection**: Identifies a bearish engulfing pattern where the current candle fully engulfs the previous candle's body, and the high of the current candle is above the high of the previous candle.
- **Visual Indicators**: Marks bullish engulfing patterns with a green label below the bar and bearish engulfing patterns with a red label above the bar.
- **Alert Conditions**: Provides customizable alerts for detected patterns, enabling you to be notified when a bullish or bearish engulfing pattern with a sweep is detected.
#### Usage:
1. **Apply to Chart**: Add the indicator to your chart to start detecting engulfing patterns with sweep conditions.
2. **Set Alerts**: Configure alerts to receive notifications when the indicator identifies a bullish or bearish engulfing pattern with a sweep.
#### Ideal For:
- Traders looking for additional confirmation in engulfing patterns.
- Users who want to incorporate price action signals into their trading strategy.
By incorporating the sweep condition, this indicator aims to enhance the reliability of the engulfing patterns and provide more actionable signals.
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Feel free to adjust the description based on any specific details or features you want to highlight. If there are any additional features or details about the indicator that should be included, let me know!
Smart Money Concepts (SMC)Introductions:
Before explaining the functions of this indicator to you, we need to talk about what theoretical knowledge we need to have. Many different price approaches have been developed over the decades with different analysis methods and are still evolving. Some theories used in classical trend analysis methods are interpreted or blended with different perspectives over time and we try to make more successful analyses by having a consistent market reading strategy. While analyzing the classical market structure with the price action method, some issues that are missing and do not fit into place are brought to light with a higher level analysis method known as the smart money concept.
As a result of the research and developments we have done on this subject from many different sources for a long time, I personally think that the most efficient and logical concept is the smart money concept. Of course, no matter which method we use, acting within a risk management and remaining strictly loyal to our conditions should be our first priority so that we can talk about sustainable success in the market. In light of all this, we decided to make an indicator of this concept, which we believe is consistent.
In order to analyze the market structure correctly, we must first draw fractal structures and interpret them correctly. Because the market consists of fractal structures. Regardless of the technique, if we cannot draw fractals correctly or if we make an incorrect interpretation while determining them, our market structure analysis may also be incorrect.
Instead of manually identifying fractal structures, script writers often choose the following method for ease of use; They leave the number of candles to the user's choice, detect the highest and lowest points among x number of candles, and draw fractal structures accordingly, but in fact this is not an accurate detection method. In the visual I have prepared below, you can see how the correct fractal structures should be drawn. Fractal structures should be made based on the previous and next candle levels, not from a certain group of candles.
To identify market structures, we make an interpretation based on these fractal movements.
While classic market structure analysis with traditional price action follows a relatively simpler path as shown in the example below, this situation is a bit more detailed in the smart money concepts.
To explain the situation in the smart money concept in an easily understandable way, it is as follows; imagine an uptrend that progresses by creating levels HH and HL, when the price creates a new HL, we call this point as inducement and we move this level up as each new HL is formed. When drawing structures in this way, when the price falls below the inducement level, the peak is confirmed. To explain it with a different approach, the price must first get liquidity from these last rising bottoms in order to make a break of structure (BOS). The break of structure occurs when the price passes the approved peak. When BOS occurs, the lowest point between this point and the previous peak is defined as the Swing Low and this is the level that needs to be protected in uptrend. When BOS occurs, the last HL point that made this BOS is also defined as inducement and it continues to move as new HL is formed until the new peak is confirmed. If the price somehow "closes" below the Swing Low point that needs to be protected, CHOCH (change of character) has occurred and the trend direction has changed. After CHOCH, we start applying the same logic for the downtrend, the last LH peak formed after is defined as inducement and as the fractal structure continues downward, this level is also carried as the inducement level until the Swing Low level is determined. An important note is; In order for BOS and CHOCH to be valid, "a closing must definitely occur". If it remains in the form of a wick, we call it a liquidity sweep and the end point of this wick is updated as the point where we need to look for a closing in order to be able to say that the BOS or CHOCH level is determined. By the way, We call these liquidity sweep points as "x" in the indicator.
It may be easier to explain this topic with a few sample images that I have shared below.
The thing to consider in the smart money concept is that if you are going to take a long trade in an uptrend, you should wait for the price to fall below the inducement level or if you are going to take a short trade in a downtrend, you should wait for the price to rise above the inducement level and only then look for suitable structures, order flows, order blocks, price gaps and other structures before this are considered traps in this concept. I have some strategies that I personally apply, but since these are my personal preferences, I do not find it right to share them here in order not to affect your opinions, but I am basically careful to act as I stated above.
While preparing this script, we paid attention to the fact that it can be interpreted with a real human eye, provides ease at the speed of machine language and can work extremely flawlessly.
From the first moment we started preparing the script, we went through a long and seriously laborious preparation process that lasted months until now, which we happily share.
We brought this code to life by putting on the table almost everything the user may want in terms of both flawlessly fulfilling the conditions specified by the concept and convenience.
If we touch on the function of the code in order, our code finds the following;
It perfectly identifies the fractals that form the basis of the market structure, within the framework of the rules that I mentioned above, we taught to the script.
According to smart money concepts, as I explained in detail above, it provides great convenience in this regard by skillfully identifying the direction of the market in the time period you are in, rather than traditional methods.
In addition to identifying the direction of the market, it also detects the direction changes taking place in the internal structure. Indicator tries to detect even the slightest direction changes by making a stricter interpretation while determining the trend and bottom-top points in the internal structure. Theoretically, it determines the top point in a downward fractal breakout, and marks the bottom point in an upward fractal breakout.
In this context, it also uniquely identifies the candle flow direction and we can observe it on the table. I explained this issue in the first image about fractal determination, you can read that part again.
When you identify swing structures correctly, you will also determine the area you need to focus on, and we have also included this in the script.
Another one of our favorite features on the chart is that it can show active swing areas live by following the BOS, CHOCH and Inducement lines. So, I believe that this gives it a more professional appearance.
In the light of all these functions, it provides great ease of use while presenting data on the direction of the market in a table not only in the current time frame but also in 6 different time frames that the user can choose according to his/her preference, including seconds timeframes (1 sec., 5 sec., 15 sec., 30 sec. etc.)
In order to speed up the user, it instantly informs the selected parity and all structural changes (Bos, Choch, Inducement, Liquidity Sweeps etc.) that occur on the market structure of this timeframe by setting a single alarm.
In the settings window, you will find the following settings that we have personalized for you:
Main Options;
Fractal Lines box: You can check this box to see whether the fractals that form the basic interpretation structure of the indicator are visible or not.
Swing Lines box: You can use this box to turn on or off the Bos, Choch, Inducement and Liquidity Sweeps lines, which are the main elements of the market structure.
Internal Structures box: You can check this box to observe the H and L points in the internal structure of the graph and therefore the direction in the internal structure.
Live Bos / Choch / Inducement Lines box: You can turn on / off the visibility of the lines belonging to the current and active Bos, Choch and Inducement levels on the chart.
Range Lines box: You can use it to turn on / off the visibility of range lines drawn between the active Swing high and Swing low points on the chart.
Multitimeframe Tables box: It allows you to open and close the table where you can observe the main trend direction of the current parity on the screen, its internal structure and the candle flow direction in 6 different time frames.
Fractal Settings;
In this section, you can choose the colors, style and thickness of the fractal lines as you wish.
Swing Settings;
In this section you can choose the colors of the Swing High and Swing Low points, their shape and size.
Likewise, you can choose the colors, line style, thickness and text size of Bos and Choch lines for bullish and bearish situations.
There are also settings where you can choose the colors, style, line thickness and text size of the Liquidity Sweep and Inducement lines.
Internal Swing Settings;
In this section, you can determine the colors of the High and Low points detected in the internal structure and select the label size, style and thickness of the direction change lines.
Live BOS / CHOCH / IDM Lines;
In this section, you can select the colors, label sizes, line style and thickness of the bos, choch and inducement lines that show the important levels followed in the current status of the chart.
Range Settings;
As mentioned above, you can choose the color, style, thickness of the range lines drawn between the active swing high and swing low points and the size of the price tags of these levels.
Multitimeframe Table Settings;
In this section, there are settings boxes for 6 selectable timeframes, 9 different position alternatives where you can change the position of the table, and a section where you can find 2 different options to express the directions in the table. In addition to these, you will also be able to choose the background color of the table and the color of the text used to express the directions in the table.
We hope that this script will reach a wide audience by becoming a tool that will be used with pleasure and indispensable, while providing convenience to all users, as we have dreamed of and expected from the first moment we started writing it.
DISCLAIMER: No sharing, copying, reselling, modifying, or any other forms of use are authorized for the documents, script / strategy, and the information published with them. This informational planning script / strategy is strictly for individual use and educational purposes only. This is not financial or investment advice. Investments are always made at your own risk and are based on your personal judgement. We are not responsible for any losses you may incur. Please invest wisely.
Best regards and enjoy it.
Gann LVR Price/Time
**Gann LVR Price/Time**
The "Gann LVR Price/Time" indicator assists traders in analyzing and predicting price levels on the chart using Gann's method. Below is a detailed description of its functionality:
**Key Features:**
1. **Determining Points A, B, and C:**
- Users can manually set three key time points (A, B, and C) on the chart, which serve as the basis for further calculations.
2. **Price Calculation Method:**
- The indicator offers several methods for calculating the price at the selected points: wicks, body, or average price.
3. **Trend Direction and Model Type:**
- Based on the positions of points A, B, and C, the indicator determines whether the current model is in an uptrend or downtrend and classifies it as an impulse or correction.
4. **Target Level Calculation:**
- The indicator calculates up to 12 target levels using correction factors that depend on the type and direction of the model (impulse or correction, uptrend or downtrend).
5. **Graphical Display:**
- The indicator draws a triangle connecting points A, B, and C, and displays the target levels on the chart as lines and labels, showing the projected price levels.
6. **Customization Options:**
- Users can customize the color, thickness, and style of the triangle and target level lines, and choose which target levels to display on the chart.
**How It Works:**
- The indicator uses the specified points A, B, and C to determine the trend direction and model type.
- It calculates target levels based on the chosen price calculation method and correction factors.
- The results are displayed on the chart, providing traders with visual cues for potential price movements and target levels for entering or exiting trades.
**Example Usage:**
- Set the start dates for points A, B, and C.
- Choose the price calculation method: wicks, body, or average.
- Customize the display settings as needed.
- Analyze the displayed target levels to make informed trading decisions.
**Why Choose This Indicator:**
- Combines Gann's method with modern technical analysis.
- Provides clear and customizable visual aids for better trading decisions.
- Suitable for various trading strategies, including trend following and scalping.
**Author's Instructions:**
To request access to this script, please contact the author privately or follow the link provided below. Do not use the "Comments" section of this script to request access.
Gann LVR Price/Time
Индикатор "Gann LVR Price/Time" помогает трейдерам анализировать и прогнозировать ценовые уровни на графике, используя метод Ганна. Ниже приведено подробное описание его функциональности:
Основные функции:
Определение точек A, B и C:
Пользователи могут вручную задать три ключевые временные точки (A, B и C) на графике, которые служат основой для дальнейших расчетов.
Метод расчета цены:
Индикатор предлагает несколько методов расчета цены в выбранных точках: тени, тело или средняя цена.
Направление тренда и тип модели:
На основе положения точек A, B и C индикатор определяет, является ли текущая модель восходящей или нисходящей, и классифицирует её как импульс или коррекцию.
Вычисление целевых уровней:
Индикатор рассчитывает до 12 целевых уровней, используя поправочные коэффициенты, которые зависят от типа и направления модели (импульс или коррекция, восходящая или нисходящая).
Графическое отображение:
Индикатор рисует треугольник, соединяющий точки A, B и C, и отображает целевые уровни на графике в виде линий и меток, показывающих предполагаемые ценовые уровни.
Настройки отображения:
Пользователи могут настроить цвет, толщину и стиль линий треугольника и целевых уровней, а также выбрать, какие из целевых уровней показывать на графике.
Как это работает:
Индикатор использует заданные точки A, B и C для определения направления тренда и типа модели.
Он рассчитывает целевые уровни на основе выбранного метода расчета цены и поправочных коэффициентов.
Результаты отображаются на графике, предоставляя трейдерам визуальные подсказки для потенциальных ценовых движений и целевых уровней для входа или выхода из сделок.
Пример использования:
Установите начальные даты для точек A, B и C.
Выберите метод расчета цены: тени, тело или средняя цена.
Настройте параметры отображения по своему усмотрению.
Анализируйте отображенные целевые уровни для принятия обоснованных торговых решений.
Почему стоит выбрать этот индикатор:
Комбинирует метод Ганна с современным техническим анализом.
Предоставляет четкие и настраиваемые визуальные подсказки для улучшения торговых решений.
Подходит для различных торговых стратегий, включая следование за трендом и скальпинг.
Инструкции для автора:
Чтобы запросить доступ к этому скрипту, пожалуйста, свяжитесь с автором лично или следуйте ссылке, указанной ниже. Не используйте раздел "Комментарии" этого скрипта для запроса доступа.
