The Forexation: Super Trend SignalsOverview:
The Forexation: Super Trend Signals (STS) indicator was crafted to enhance visualization of market trends by integrating multiple technical analysis tools and adding logic to them so they color bullish, bearish, counter trends, and cautious trends. By combining standard and higher-timeframe Supertrends with dynamic EMAs and VWAP, STS offers a multi-dimensional view of market dynamics. This synergy allows traders to:
Assess Trend Strength and Alignment
Identify Momentum Shifts and Reversals
Gauge Market Sentiment through Volume-Weighted Pricing
Filter Out Market Noise for Clearer Signals
Key Features and Synergy:
1. Dual Supertrend Analysis:
Standard Supertrend:
Utilizes the Average True Range (ATR) and a multiplier factor to detect immediate market trends.
Customizable ATR Length and Factor to adjust sensitivity to market volatility.
Used as a guide to help follow the trend and identify where if price breaks through we can be reversing trend or entering a counter/cautious trend.
Higher Time Frame (HTF) Supertrend:
Integrates Supertrend data from a higher timeframe for a broader market perspective.
Smoothing applied via an EMA to reduce lag and false signals.
**Synergistic Effect:
Trend Alignment: By analyzing both standard and HTF Supertrends, STS identifies when short-term trends align with long-term trends, increasing the reliability of trend signals.
Dynamic Adjustments: Traders can adjust parameters to fine-tune the balance between responsiveness and stability.
2. Customized EMAs with Contextual Color-Coding:
Fast and Slow EMAs:
Customizable periods to match different trading strategies and timeframes.
EMAs are used to identify momentum shifts and potential reversals through crossovers.
Dynamic Color-Coding:
EMA lines change color based on their relationship with each other, the Supertrends, and VWAP.
Visual Interpretation:
Bullish Alignment: Fast EMA above Slow EMA, both above Supertrend and VWAP, signals strong upward momentum.
Bearish Alignment: Fast EMA below Slow EMA, both below Supertrend and VWAP, signals strong downward momentum.
Caution Zones: Misalignment or crossovers indicate potential reversals or consolidation.
**Synergistic Effect:
Momentum Confirmation: EMA crossovers are validated against Supertrend directions, reducing false signals.
Support and Resistance Zones: The area between EMAs acts as dynamic support/resistance, visualized through an optional fill.
3. VWAP Integration for Volume-Weighted Insights:
VWAP Analysis:
Calculates the average price weighted by volume, providing insights into institutional trading levels and market sentiment.
**Synergistic Effect:
Trend Validation: Confirms trend strength by analyzing whether price and EMAs are above or below VWAP.
Counter-Trend Detection: Identifies potential pullbacks or reversals when price interacts with VWAP against the prevailing trend of the standard and higher time frame SuperTrend.
4. Composite Signal Generation:
Color-Coded Market Conditions:
Bullish Signals (Green): Strong upward trends with alignment across standard + HTF Supertrend, EMAs, and price above VWAP.
Bearish Signals (Red): Strong downward trends with inverse alignment.
Caution State (Orange): Potential market reversals or uncertainty when indicators are misaligned. (Example: price above VWAP but under HTF SuperTrend)
Counter-Trend Conditions (Yellow): Signals possible pullbacks or consolidations when price or EMAs cross VWAP. (Example: Price is above VWAP & HTF SuperTrend but the EMAs and Standard SuperTrend are in a down trend)
**Synergistic Effect:
Enhanced Signal Accuracy: By requiring multiple confirmations across different indicators and timeframes, STS filters out noise and increases the probability of trends in the market.
Timely Alerts: Alerts are generated when critical conditions are met, keeping traders informed of significant market movements.
Underlying Concepts and Calculations:
Supertrend Algorithm:
Calculation:
Supertrend is calculated using ATR to set a dynamic trailing stop that follows price movements.
The indicator switches between bullish and bearish modes when price crosses the Supertrend line.
Customization:
ATR Length and Factor can be adjusted to make the Supertrend more or less sensitive to price changes.
In STS: Both standard and HTF Supertrends are used, with the HTF providing longer-term trend context.
Exponential Moving Averages (EMAs):
Calculation:
EMAs apply more weight to recent prices, making them more responsive than Simple Moving Averages (SMAs).
Crossovers between Fast and Slow EMAs signal potential momentum shifts.
Customization:
Periods for Fast and Slow EMAs are user-defined to suit different trading styles.
In STS: EMA behavior is analyzed in conjunction with Supertrend and VWAP to validate signals.
Volume Weighted Average Price (VWAP):
Calculation:
VWAP accumulates total dollars traded (price times volume) divided by total volume over a specific period.
Reflects the average price at which the instrument has traded throughout the day based on both price and volume.
**In STS:
VWAP serves as a dynamic support/resistance level.
Interaction with VWAP can indicate shifts in market sentiment, especially when combined with other indicators.
Justifying the Value of STS:
Holistic Market Analysis:
STS doesn't just merge indicators; it creates a cohesive system where each component validates and enhances the others.
This integrated approach offers a more reliable analysis than using individual indicators in isolation.
Customizable and Adaptive:
Traders have control over key parameters, allowing STS to be tailored to different markets and trading styles.
The ability to adjust sensitivity helps in adapting to varying market conditions.
Enhanced Decision-Making:
By providing clear visual cues and alerts, STS aids in quick interpretation of complex market data.
The indicator helps in identifying high-probability trend opportunities and managing risk effectively with trailing SuperTrend guidance.
Unique Signal Filtering:
The combination of multiple confirmations reduces the likelihood of false trend signals.
The use of higher timeframe data and volume-weighted analysis adds depth to trend assessment.
How to Use STS Effectively:
1. Configuring Settings:
Supertrend Settings:
Adjust ATR Length and Factor to set the desired sensitivity.
Select the Higher Time Frame for the HTF Supertrend to align with your trading horizon.
Set the Smoothing Period for the EMA applied to the HTF Supertrend.
EMA Settings:
Define periods for Fast and Slow EMAs based on your strategy.
Ensure the Fast EMA period is shorter than the Slow EMA for effective crossovers.
Color and Display Settings:
Customize colors for different market conditions to enhance visual clarity.
Choose whether to display the HTF Supertrend, EMA lines, EMA fill, and VWAP.
2. Interpreting Signals:
Bullish Scenario:
Supertrends indicate an uptrend.
Fast EMA crosses above Slow EMA, both trending upwards.
Price and EMAs are above VWAP.
Action: Consider long positions, using the standard Supertrend as a trailing stop.
Bearish Scenario:
Supertrends indicate a downtrend.
Fast EMA crosses below Slow EMA, both trending downwards.
Price and EMAs are below VWAP.
Action: Consider short positions. using the standard Supertrend as a trailing stop
Caution and Counter-Trend Signals:
Misalignment between indicators or color changes to orange/yellow.
Action: Exercise caution, tighten stops, or wait for clearer signals.
4. Setting Up Alerts:
Access the Alerts menu.
Configure alerts for:
Supertrend Direction Changes
EMA Crossovers
Price Crossing VWAP
Set alert actions and ensure they trigger on confirmed data by selecting "Once Per Bar Close."
Example Trading Strategies:
Trend Following:
Use STS to identify strong trends where all indicators are aligned.
Enter positions in the direction of the trend.
Use Supertrend lines as dynamic stop-loss levels.
Pullback Entries:
Wait for price to pull back to the EMA fill area or VWAP in a prevailing trend.
Look for bounce signals off these levels when supported by Supertrend direction.
Counter-Trend Opportunities:
Identify potential reversals when caution or counter-trend signals appear.
Confirm with additional analysis or indicators before taking positions against the main trend.
Disclaimer:
This indicator is intended to aid in technical analysis and should be used as part of a comprehensive trading strategy. It does not guarantee profits and carries the risk of loss. Trading financial instruments involves significant risk; please consult with a qualified financial advisor before making any investment decisions. Past performance is not indicative of future results.
Final Notes:
The Forexation: Super Trend Signals (STS) indicator represents a thoughtfully engineered tool that brings together multiple technical elements to provide a more nuanced understanding of market behavior. By leveraging the strengths of Supertrend, EMAs, and VWAP in unison, STS aims to enhance trading precision and confidence in the trends the market creates but also guide risk management levels for managing a trade and stop loss areas.
We are committed to continuous improvement and value user feedback. Please share your experiences and suggestions to help us refine the indicator further.
Happy Trading!
Livelli e punti pivot
New Rate - PROIndicator Description: New Rate - PRO
The New Rate - PRO is an advanced trading indicator designed to assist traders in identifying significant price levels and potential reversal points within a specified time frame. By highlighting key highs and lows, projecting trendlines, and providing visual cues, this indicator enhances your ability to make informed trading decisions. It offers extensive customization options, ensuring adaptability to various trading styles and market conditions.
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Key Features:
Customizable Color Themes: Choose between Dark and Light color styles to match your chart preferences.
High and Low Line Detection: Automatically identifies and draws lines for significant high and low price levels within the defined analysis period.
Midline Projection: Optionally displays a midline representing the 50% range between the detected high and low, aiding in trend analysis.
Candle Coloring: Colors the first six candles within the analysis range with a specific color, while the remaining candles are displayed in a subdued gray for clarity.
Trading Session Highlight: Highlights the designated trading hours on the chart, providing a clear visual reference for active trading periods.
Touch Detection Arrows: Plots arrows on the chart when the price touches the detected high or low levels, indicating potential trading opportunities.
Extensive Customization Options: Allows users to adjust line colors, styles, widths, label texts, and more to suit individual trading preferences.
Timeframe and Range Configuration: Defines the specific timeframe and time range for analysis, ensuring precise detection of significant price levels.
How Does the Indicator Work?
Color Style Selection:
- Choose between "Dark" or "Light" themes to match your chart setup, adjusting the color palette for optimal visibility.
High and Low Line Detection:
- The indicator analyzes the first six candles within the specified time range to identify the highest and lowest price levels.
- Once detected, it draws horizontal lines extending 25 candles to the right, marking these significant levels on the chart.
Midline Projection:
- If enabled, the indicator calculates the midpoint between the detected high and low.
- It then draws a horizontal line at this midpoint, providing an additional reference for potential support or resistance.
Candle Coloring:
- The first six candles within the analysis period are colored based on user selection (default: yellow).
- Subsequent candles are displayed in a semi-transparent gray, allowing the key candles to stand out.
Trading Session Highlight:
- Highlights the active trading hours on the chart using a semi-transparent orange background.
- This visual aid helps traders focus on periods of increased market activity.
Touch Detection Arrows:
- When the price touches the previously detected high or low levels, the indicator plots an upward green arrow or a downward red arrow, respectively.
- These arrows signal potential entry points for buy or sell trades.
Customization of Labels and Lines:
- Users can customize the colors, styles (Solid, Dotted, Dashed), and widths of the high, low, and midline.
- Label texts and font sizes are also adjustable to enhance readability.
How to Use the Indicator?
Setup Color Themes:
- Select your preferred color theme ("Dark" or "Light") to ensure the indicator aligns with your chart's appearance.
Configure High and Low Lines:
- Adjust the line color, style, and width to clearly distinguish high and low levels on the chart.
- Enable or disable the midline based on your analysis needs.
Set Timeframe and Analysis Range:
- Define the chart's timeframe in minutes (e.g., 5 minutes) to tailor the indicator's sensitivity.
- Specify the start and end hours and minutes for the analysis period to focus on specific trading sessions.
Customize Candle Colors:
- Choose the color for the first six candles within the analysis range.
- The remaining candles will automatically be displayed in a default gray color.
Enable Trading Session Highlight:
- Activate the background highlight for the trading session to visually separate active trading hours from inactive periods.
Monitor Touch Detection Arrows:
- Watch for green upward arrows indicating potential buy signals when the price touches the high level.
- Look for red downward arrows signaling potential sell opportunities when the price reaches the low level.
Adjust Labels and Visual Elements:
- Modify label texts and font sizes to ensure clarity and avoid clutter on the chart.
- Fine-tune line styles and colors for better visual differentiation.
Plan Your Trades:
- Use the detected high and low levels as reference points for setting entry, stop-loss, and take-profit levels.
- Combine with other technical analysis tools to confirm trade signals and enhance decision-making.
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What Makes This Indicator Original?
Dynamic High and Low Detection: Automatically identifies significant price levels within a defined time range, providing timely insights into market movements.
Midline Projection Feature: Offers an additional reference point by calculating and displaying the midpoint between high and low levels, aiding in trend analysis.
Customizable Visual Elements: Extensive customization options for colors, styles, and labels allow traders to tailor the indicator to their specific preferences and trading environments.
Touch Detection Arrows: Provides clear visual signals when the price interacts with key levels, facilitating quick decision-making for trade entries.
Trading Session Highlight: Enhances focus by visually distinguishing active trading periods, helping traders concentrate on high-probability trading times.
Trade Summary Visualization: (If applicable based on code) Offers a summary of recent trades, allowing traders to assess performance directly on the chart.
Additional Considerations
Testing and Optimization: Before deploying the indicator in live trading, test it on historical data and a demo account to fine-tune settings according to your trading strategy.
Complementary Analysis: Use the indicator alongside other technical analysis tools such as moving averages, trendlines, and oscillators to confirm trade signals.
Risk Management: Always set appropriate stop-loss and take-profit levels to manage risk effectively, regardless of the indicator's signals.
Stay Informed: Keep abreast of market news and economic events that may influence price movements and affect the indicator's performance.
Adjust for Different Assets: Customize the indicator's settings based on the asset's volatility and trading behavior to enhance accuracy and reliability.
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Example Configuration
To help you get started, here is an example configuration:
Color Style: Dark
Line Color (High and Low): Red
Line Style (High and Low): Dotted
Line Width (High and Low): 2
Midline Color (50%): Blue
Show Midline: Yes
Label Text Color: Gray
Label Font Size: Medium
Candle Color (First 6 Candles): Yellow
Default Candle Color (Remaining Candles): Semi-transparent Gray
Timeframe Minutes: 5
Analysis Start Time: 08:35
Analysis End Time: 09:05
These settings are optimized for a 5-minute XAUUSD chart during the 8:35 to 09:05 trading session, highlighting key price levels and providing clear visual signals for potential trades.
Conclusion
The New Rate - PRO indicator is tool that combines dynamic price level detection with extensive customization and real-time visual cues. By automatically identifying significant highs and lows, projecting trendlines, and signaling potential trade opportunities, it enhances your ability to navigate the markets effectively. Its adaptability through customizable settings ensures that it can be tailored to various trading styles and market conditions, making it a valuable addition to any trader's toolkit.
First 5 Minutes Open/Close LinesThis very simple indicator paints lines at the high and low of the first 5m candle of the session. It is primarily intended for big cap NYSE traded stocks with high volume. I wrote this indicator to save me the trouble of manually drawing the lines each day.
The lines drawn at the 5m high/low will remain constant regardless of which timeframe you switch to. In the example screenshot, we are looking at the 1m timeframe. This helps us switch effortlessly between different timeframes to see if a given price movement meets our entry criteria.
In addition to drawing lines at the first 5m high/low, it will optionally paint two zones, one each around the high and low. The boundaries of this zone are configurable and expressed as a percentage of the total movement of the first 5m bar. By default, it is set to 25%.
This indicator is based on the concept that the first 5m bar always has massive volume which helps us infer that price may react around the extremes of that movement. The basic strategy works something like this:
- You identify the high timeframe (HTF) trend direction of the stock
- You wait for the first 5m candle of the session to close
- You wait for price to puncture through the outer boundary of the zone marked by the indicator.
- You enter when price retraces to the high, or low, which marks the midpoint of the punctured zone.
- Only enter long on stocks in a HTF uptrend, and short on stocks in an HTF downtrend.
- Use market structure to identify stop loss and take profit targets
Note: Use at your own risk. This indicator and the strategy described herein are not in any way financial advice, nor does the author of this script make any claims about the effectiveness of this strategy, which may depend highly on the discretion and skill of the trader executing it, among many other factors outside of the author's control. The author of this script accepts no liability, and is not responsible for any trading decisions that you may or may not make as a result of this indicator. You should expect to lose money if using this indicator.
Swing Percentile Lines [QuantVue]The Swing High/Low Percentile Indicator is designed to help traders identify key price levels based on the most recent swing high and low. By anchoring to the most recent swing high and swing low, the indicator automatically generates percentile lines ( 25%, 50%, 75%) that act as dynamic support and resistance levels.
What Does the Indicator Do?
The Swing High/Low Percentile Indicator works by identifying the most recent significant price swings, whether it's a swing high or swing low. It then calculates the range between these points and divides the distance into percentage-based levels. These levels are plotted on the chart as clear, easy-to-read lines at 25%, 50%, and 75% of the range between the swing high and low.
These percentile lines serve as dynamic price zones where traders can anticipate potential reactions, whether the market is trending or consolidating.
How Can Traders Use the Indicator?
Support and Resistance: The percentile lines act as evolving support and resistance zones. Traders can anticipate price bounces or breaks at these levels, providing opportunities for trend-following or reversal trades.
Trend Identification: The indicator helps traders determine the strength of a trend. In a strong uptrend, price will likely stay above the 50% or 75% lines, while in a downtrend, it may remain below the 50% or 25% lines. This gives traders an edge in recognizing the overall market direction.
Entry and Exit Points: Traders can use the percentile lines to time their entries and exits. For example, entering a trade on a pullback to the 25% or 50% line offers a favorable risk-to-reward ratio. Similarly, the percentile lines serve as natural profit targets, allowing traders to plan exits as the price approaches the 50% or 75% levels.
Risk Management: The clear delineation of price levels makes it easy for traders to set stop-loss orders. For example, if price falls below the 25% line in an uptrend, it may signal weakness, prompting an exit or reduced position size.
Breakout and Breakdown Scenarios: When price breaks above a recent swing high or below a swing low, the percentile lines provide traders with pullback entry opportunities or key levels to watch for continuation of the move.
Dynamic Open Levels# Dynamic Open Levels Indicator v1.0
Release Date: November 5, 2024
Introducing the Dynamic Open Levels indicator on TradingView! This tool helps traders visualize and analyze key opening price levels across multiple timeframes, making your market analysis more effective.
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### Key Features
- Multiple Timeframes : Yearly, Quarterly, Monthly, Weekly, Daily, 4H, and 1H levels available.
- Visibility Controls : Easily toggle visibility for each timeframe to suit your trading style.
- Line Customization : Set custom thickness and colors for lines, making charts easy to interpret.
- Monthly: Purple
- Weekly: Blue
- Daily: Green
- 4H: Red
- 1H: Orange
- Dynamic Coloring : Lines adjust color based on market conditions—teal for bullish (`rgb(34, 171, 148)`) and coral for bearish (`rgb(247, 82, 95)`).
### Labels & Customization
- Real-Time Labels : Each level is labeled for easy identification (e.g., Y for Yearly, Q for Quarterly).
- Label Settings : Customize opacity, text color, size, and position for clarity without cluttering your chart.
- Sizes : Choose from tiny, small, normal, large, to huge.
- Offset : Set labels from 1 to 10 to position them precisely.
- Color Management : Organize all colors under a dedicated Line Colors group for easy adjustments.
### Advanced Plotting & Performance
- Real-Time Updates : Levels are updated dynamically with the latest open prices.
- Extended Lines : Lines extend to the right, offering a consistent reference for future price movement.
- Optimized Performance : Handles up to 500 lines efficiently to maintain smooth performance.
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### Installation Instructions
1. Add to Chart :
- Go to the Indicators section in TradingView.
- Search for Dynamic Open Levels and add it to your chart.
2. Customize Settings :
- Line Thickness : Adjust to suit your preference.
- Visibility : Toggle timeframes like Yearly, Monthly, Weekly, etc., as needed.
- Labels : Configure opacity, text color, size, and offset under the Label Settings group.
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### Documentation & Support
For guidance on using the Dynamic Open Levels indicator, visit our Documentation (#). If you need assistance, check out our Support Channel (#).
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Thank you for choosing Dynamic Open Levels . Stay tuned for future updates that will continue to improve your trading experience!
H A Z E D
Previous Highs + Lows by HAZED📈 Introducing: Previous Highs + Lows by H A Z E D 📉
✨ Overview
Get a clear view of market levels with Previous Highs + Lows v1.0! This indicator lets you track critical previous highs and lows across multiple timeframes, marking them directly on your chart for an intuitive view of support and resistance zones. Whether you’re analyzing breakouts or looking for reversal levels, these indicators provide essential context to refine your trades.
🛠️ Key Features
Multiple Timeframes Supported
Toggle on previous highs and lows for daily, weekly, monthly, 4-hour, and 1-hour charts to match your analysis style.
Customizable Labels
Choose label sizes from “tiny” to “huge,” adjust the opacity to blend seamlessly with your chart, and customize text color for optimal readability.
Label Position Control
Avoid overlap with a flexible label offset feature, allowing for 10 adjustable increments to fit your preference and chart layout.
Clear Visual Cues
Labels use icons to differentiate high (⬆️) and low (⬇️) levels at a glance, providing a straightforward way to interpret key price areas.
Instant Alerts for Key Levels
Receive alerts when the price crosses over previous high levels, keeping you informed about potential breakout zones without constant chart-watching.
🚀 How to Use
Identify Key Levels: Quickly locate significant highs and lows from previous periods to define your support and resistance zones.
Set Alerts: Stay updated on market moves with built-in alerts when prices cross these critical levels.
Customize Your View: Use the various options to make this indicator uniquely yours – adjust label size, color, opacity, and position.
🔔 Why Use Previous Highs + Lows v1.0?
Enhanced visibility of critical levels saves you time by giving you a structured view of price action.
Customization features let you adapt the indicator to your personal style and chart setup.
Flexible alerts mean you can focus on other tasks without missing important price movements.
🔗 License: Mozilla Public License 2.0
© H A Z E D, 11/4/2024
VolWRSI### Description of the `VolWRSI` Script
The `VolWRSI` script is a TradingView Pine Script indicator designed to provide a volume-weighted Relative Strength Index (RSI) combined with abnormal activity detection in both volume and price. This multi-faceted approach aims to enhance trading decisions by identifying potential market conditions influenced by both price movements and trading volume.
#### Key Features
1. **Volume-Weighted RSI Calculation**:
- The core of the script calculates a volume-weighted RSI, which gives more significance to price movements associated with higher volume. This helps traders understand the strength of price movements more accurately.
2. **Abnormal Activity Detection**:
- The script includes calculations for abnormal volume and price changes using standard deviation (SD) multiples. This feature alerts traders to potential unusual activity, which could indicate upcoming volatility or market manipulation.
3. **Market Structure Filtering**:
- The script assesses market structure by identifying pivot highs and lows, allowing for better contextual analysis of price movements. This includes identifying bearish and bullish divergences, which can signal potential reversals.
4. **Color-Coded Signals**:
- The indicator visually represents market conditions using different bar colors for various scenarios, such as bearish divergence, likely price manipulation, and high-risk moves on low volume. This allows traders to quickly assess market conditions at a glance.
5. **Conditional Signal Line**:
- The signal line is displayed only when institutional activity conditions are met, remaining hidden otherwise. This adds an extra layer of filtering to prevent unnecessary signals, focusing only on significant market moves.
6. **Overbought and Oversold Levels**:
- The script defines overbought and oversold thresholds, enhancing the trader's ability to spot potential reversal points. Color gradients help visually distinguish between these critical levels.
7. **Alerts**:
- The script includes customizable alert conditions for various market signals, including abnormal volume spikes and RSI crossings over specific thresholds. This keeps traders informed in real-time, enhancing their ability to act promptly.
#### Benefits of Using the `VolWRSI` Script
- **Enhanced Decision-Making**: By integrating volume into the RSI calculation, the script helps traders make more informed decisions based on the strength of price movements rather than price alone.
- **Early Detection of Market Manipulation**: The abnormal activity detection can help traders identify potentially manipulative market behavior, allowing them to act or adjust their strategies accordingly.
- **Visual Clarity**: The use of color-coding and graphical elements (such as shapes and fills) provides clear visual cues about market conditions, which can be especially beneficial for traders who rely on quick visual assessments.
- **Risk Management**: The identification of high-risk low-volume moves helps traders manage their exposure better, potentially avoiding trades that may lead to unfavorable outcomes.
- **Reduced Noise with Institutional Activity Filtering**: The conditional signal line only plots when institutional activity conditions are detected, providing higher confidence in signals by excluding lower-conviction setups.
- **Customization**: With adjustable parameters for length, thresholds, and colors, traders can tailor the script to their specific trading styles and preferences.
Overall, the `VolWRSI` script combines technical analysis tools in a coherent framework, aiming to provide traders with deeper insights into market dynamics and higher-quality trade signals, potentially leading to more profitable trading decisions.
Delta Volume-ATR ChangeDelta Volume-ATR Change Indicator
The Delta Volume-ATR Change Indicator is designed to analyze the effectiveness of volume in relation to price volatility by comparing the percentage change in volume with the percentage change in ATR over the last two bars. This indicator provides insights into how volume changes impact price movement, allowing traders to gauge the strength or weakness of market momentum based on volume efficiency.
Formula:
% Volume Change = (Volume - Volume ) / Volume * 100
% ATR Change = (ATR - ATR ) / ATR * 100
Delta = % Volume Change - % ATR Change
The result, Delta, shows the difference between the volume change and ATR change, with positive delta indicating a stronger volume impact and negative delta suggesting weaker volume support relative to price movement.
Features:
Multiple Display Styles: Choose from three visualization styles — Histogram, Line, or Columns — to display delta values in a way that best fits your analysis style.
Delta Smoothing: The smoothed Delta line (using an SMA with customizable length) provides a clearer trend of volume efficiency over time.
Color Coding: Delta bars change color based on direction — green for positive values and red for negative, allowing for quick visual assessment of volume effectiveness.
Applications:
Identify market conditions where high volume is driving price effectively (positive Delta).
Detect instances of low volume efficiency, where price changes may not be fully supported by volume (negative Delta).
Useful for short-term and swing traders looking to understand volume patterns in relation to volatility.
This indicator is a valuable tool for traders seeking to gain insights into volume and volatility interplay, helping improve timing and reliability in market entries and exits.
Daily Structure Cycles - Session - PDH/PDLDescription:
The Session Windows indicator visualizes predefined trading sessions on the chart, highlighting key price ranges with customizable background colors and labels. Designed to track session-specific high and low levels, this tool provides visual guidance for analyzing market behavior across different trading windows. It includes three customizable sessions—Asian, Window 1, and Window 2—that can be toggled on or off.
How It Works:
Each session is marked with a colored box, representing the high and low range for that session. Border colors and box transparency can be customized, allowing for easy visual differentiation.
The indicator also displays the high and low levels of the previous day, marked as PDH (Previous Day High) and PDL (Previous Day Low). When the current price crosses these levels, the line style changes, signaling potential support or resistance levels.
Labels for each session high and low are positioned based on the user-defined offset and alignment options, providing easy-to-read markers at the end of each session.
Usage: This indicator helps traders observe price behavior within distinct trading sessions and how the current price interacts with previous day’s highs and lows, which may offer insight into support/resistance zones. Traders can use this tool to spot breakout or reversal points as price moves through session highs/lows or crosses the previous day’s levels.
Customization Options:
Session Settings: Choose session times for Asian, Window 1, and Window 2.
Color Settings: Set different colors for session background and border lines.
Label Positioning: Adjust label offset and vertical position for high/low markers.
PDH/PDL Levels: Toggle lines for previous day’s high and low, with color and line style options.
Limitations: This indicator is designed for visualization purposes and is best used alongside other tools for confirmation, as it does not provide standalone buy or sell signals.
Stoch RSI and RSI Buy/Sell Signals with MACD Trend FilterDescription of the Indicator
This Pine Script is designed to provide traders with buy and sell signals based on the combination of Stochastic RSI, RSI, and MACD indicators, enhanced by the confirmation of candle colors. The primary goal is to facilitate informed trading decisions in various market conditions by utilizing different indicators and their interactions. The script allows customization of various parameters, providing flexibility for traders to adapt it to their specific trading styles.
Usefulness
This indicator is not just a mashup of existing indicators; it integrates the functionality of multiple momentum and trend-detection methods into a cohesive trading tool. The combination of Stochastic RSI, RSI, and MACD offers a well-rounded approach to analyzing market conditions, allowing traders to identify entry and exit points effectively. The inclusion of color-coded signals (strong vs. weak) further enhances its utility by providing visual cues about the strength of the signals.
How to Use This Indicator
Input Settings: Adjust the parameters for the Stochastic RSI, RSI, and MACD to fit your trading style. Set the overbought/oversold levels according to your risk tolerance.
Signal Colors:
Strong Buy Signal: Indicated by a green label and confirmed by a green candle (close > open).
Weak Buy Signal: Indicated by a blue label and confirmed by a green candle (close > open).
Strong Sell Signal: Indicated by a red label and confirmed by a red candle (close < open).
Weak Sell Signal: Indicated by an orange label and confirmed by a red candle (close < open).
Example Trading Strategy Using This Indicator
To effectively use this indicator as part of your trading strategy, follow these detailed steps:
Setup:
Timeframe : Select a timeframe that aligns with your trading style (e.g., 15-minute for intraday, 1-hour for swing trading, or daily for longer-term positions).
Indicator Settings : Customize the Stochastic RSI, RSI, and MACD parameters to suit your trading approach. Adjust overbought/oversold levels to match your risk tolerance.
Strategy:
1. Strong Buy Entry Criteria :
Wait for a strong buy signal (green label) when the RSI is at or below the oversold level (e.g., ≤ 35), indicating a deeply oversold market. Confirm that the MACD shows a decreasing trend (bearish momentum weakening) to validate a potential reversal. Ensure the current candle is green (close > open) if candle color confirmation is enabled.
Example Use : On a 1-hour chart, if the RSI drops below 35, MACD shows three consecutive bars of decreasing negative momentum, and a green candle forms, enter a buy position. This setup signals a robust entry with strong momentum backing it.
2. Weak Buy Entry Criteria :
Monitor for weak buy signals (blue label) when RSI is above the oversold level but still below the neutral (e.g., between 36 and 50). This indicates a market recovering from an oversold state but not fully reversing yet. These signals can be used for early entries with additional confirmations, such as support levels or higher timeframe trends.
Example Use : On the same 1-hour chart, if RSI is at 45, the MACD shows momentum stabilizing (not necessarily negative), and a green candle appears, consider a partial or cautious entry. Use this as an early warning for a potential bullish move, especially when higher timeframe indicators align.
3. Strong Sell Entry Criteria :
Look for a strong sell signal (red label) when RSI is at or above the overbought level (e.g., ≥ 65), signaling a strong overbought condition. The MACD should show three consecutive bars of increasing positive momentum to indicate that the bullish trend is weakening. Ensure the current candle is red (close < open) if candle color confirmation is enabled.
Example Use : If RSI reaches 70, MACD shows increasing momentum that starts to level off, and a red candle forms on a 1-hour chart, initiate a short position with a stop loss set above recent resistance. This is a high-confidence signal for potential price reversal or pullback.
4. Weak Sell Entry Criteria :
Use weak sell signals (orange label) when RSI is between the neutral and overbought levels (e.g., between 50 and 64). These can indicate potential short opportunities that might not yet be fully mature but are worth monitoring. Look for other confirmations like resistance levels or trendline touches to strengthen the signal.
Example Use : If RSI reads 60 on a 1-hour chart, and the MACD shows slight positive momentum with signs of slowing down, place a cautious sell position or scale out of existing long positions. This setup allows you to prepare for a possible downtrend.
Trade Management:
Stop Loss : For buy trades, place stop losses below recent swing lows. For sell trades, set stops above recent swing highs to manage risk effectively.
Take Profit : Target nearby resistance or support levels, apply risk-to-reward ratios (e.g., 1:2), or use trailing stops to lock in profits as price moves in your favor.
Confirmation : Align these signals with broader trends on higher timeframes. For example, if you receive a weak buy signal on a 15-minute chart, check the 1-hour or daily chart to ensure the overall trend is not bearish.
Real-World Example: Imagine trading on a 15-minute chart :
For a buy:
A strong buy signal (green) appears when the RSI dips to 32, MACD shows declining bearish momentum, and a green candle forms. Enter a buy position with a stop loss below the most recent support level.
Alternatively, a weak buy signal (blue) appears when RSI is at 47. Use this as a signal to start monitoring the market closely or enter a smaller position if other indicators (like support and volume analysis) align.
For a sell:
A strong sell signal (red) with RSI at 72 and a red candle signals to short with conviction. Place your stop loss just above the last peak.
A weak sell signal (orange) with RSI at 62 might prompt caution but can still be acted on if confirmed by declining volume or touching a resistance level.
These strategies show how to blend both strong and weak signals into your trading for more nuanced decision-making.
Technical Analysis of the Code
1. Stochastic RSI Calculation:
The script calculates the Stochastic RSI (stochRsiK) using the RSI as input and smooths it with a moving average (stochRsiD).
Code Explanation : ta.stoch(rsi, rsi, rsi, stochLength) computes the Stochastic RSI, and ta.sma(stochRsiK, stochSmoothing) applies smoothing.
2. RSI Calculation :
The RSI is computed over a user-defined period and checks for overbought or oversold conditions.
Code Explanation : rsi = ta.rsi(close, rsiLength) calculates RSI values.
3. MACD Trend Filter :
MACD is calculated with fast, slow, and signal lengths, identifying trends via three consecutive bars moving in the same direction.
Code Explanation : = ta.macd(close, macdLengthFast, macdLengthSlow, macdSignalLength) sets MACD values. Conditions like macdLine < macdLine confirm trends.
4. Buy and Sell Conditions :
The script checks Stochastic RSI, RSI, and MACD values to set buy/sell flags. Candle color filters further confirm valid entries.
Code Explanation : buyConditionMet and sellConditionMet logically check all conditions and toggles (enableStochCondition, enableRSICondition, etc.).
5. Signal Flags and Confirmation :
Flags track when conditions are met and ensure signals only appear on appropriate candle colors.
Code Explanation : Conditional blocks (if statements) update buyFlag and sellFlag.
6. Labels and Alerts :
The indicator plots "BUY" or "SELL" labels with the RSI value when signals trigger and sets alerts through alertcondition().
Code Explanation : label.new() displays the signal, color-coded for strength based on RSI.
NOTE : All strategies can be enabled or disabled in the settings, allowing traders to customize the indicator to their preferences and trading styles.
Volume Profile Heatmap 2.0The "Enhanced Volume Profile Heatmap" is a powerful Pine Script indicator designed for advanced volume analysis on TradingView charts. It creates a dynamic heatmap of volume distribution across a defined price range, enabling traders to pinpoint significant trading levels and understand price action more deeply.
Key Features:
Configurable Parameters:
Number of Bins (numBins): Defines the resolution of the heatmap by dividing the price range into multiple levels. More bins provide higher granularity.
Lookback Period (lookback): Sets the historical period over which the volume profile is calculated.
Price Range Calculation:
Calculates the highest and lowest prices over the lookback period, defining the boundaries for volume distribution.
Volume Allocation Across Price Levels:
The price range is divided into "bins" where each bin represents a specific price level.
For each price within the lookback period, the corresponding volume is allocated to its bin, building a comprehensive distribution of volume per price level.
Volume Normalization and Heatmap Visualization:
Volume for each bin is normalized based on the highest volume bin, creating a gradient effect to visually represent high and low-volume areas.
A heatmap color scheme is applied, where low volume appears redder and high volume appears greener, emphasizing critical price levels.
Visual Representation:
Each bin’s volume is depicted as a horizontal line with varying color intensity, creating a heatmap effect directly over the price chart.
Purpose:
The Enhanced Volume Profile Heatmap is ideal for traders looking to identify high-activity trading zones, which often act as strong support or resistance. By visualizing where trading activity concentrates, users can gain insights into potential areas of interest, allowing for more informed entry and exit decisions.
This indicator is a unique tool for volume-based analysis, helping traders understand underlying market sentiment and positioning across different price levels in a clear, intuitive way.
GEX Profile [PRO] Real Auto-Updated Gamma Exposure Levels𝗥𝗲𝗮𝗹 𝗚𝗘𝗫 𝗟𝗲𝘃𝗲𝗹𝘀 𝘄𝗶𝘁𝗵 𝗦𝗲𝗮𝗺𝗹𝗲𝘀𝘀 𝗔𝘂𝘁𝗼-𝗨𝗽𝗱𝗮𝘁𝗲𝘀 𝗳𝗼𝗿 𝗼𝘃𝗲𝗿 𝟭𝟲𝟱+ 𝗼𝗳 𝘁𝗵𝗲 𝗠𝗼𝘀𝘁 𝗟𝗶𝗾𝘂𝗶𝗱 𝗨.𝗦. 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝘆𝗺𝗯𝗼𝗹𝘀 (including 𝟬𝗗𝗧𝗘 𝗳𝗼𝗿 𝗦𝗣𝗫, SPY, QQQ, TLT, IWM, etc...)
🔃 Dynamic Updates : Receive precise GEX levels with auto-updating metrics up to 5 times a day throughout the trading session—no manual refresh needed!
🍒 Strategically Developed : Built by experienced options traders to meet the needs of serious options market participants.
🕒 0DTE? No Problem! : Designed with 0DTE traders in mind, our indicator keeps you updated with GEX levels and seamless auto-refresh to capture every crucial market shift.
📈 Optimized for Option Traders : See accurate GEX and NETGEX profiles for multiple expirations to maximize strategic potential.
🔶 Comprehensive GEX Levels
This indicator provides unparalleled insight into market dynamics with levels like Call/Put Support, Resistance, HVL (High Volatility Level), and Call/Put Walls. These levels are auto-updated based on live market movements and reflect gamma shifts and volatility signals essential for options traders.
🔶 Ideal for 0DTE and Multi-Leg Strategies
Track essential GEX levels across expirations with our unique Cumulative (⅀) and Selected Alone (⊙) calculation models. Customize your view to reveal high-impact levels across multiple expirations or focus on a specific expiration for a targeted strategy.
🔶 Coverage of 165+ Highly Liquid U.S. Symbols
Compatible with over 165 U.S. market symbols, including SP:SPX , AMEX:SPY , NASDAQ:QQQ , NASDAQ:TLT , AMEX:GLD , NASDAQ:NVDA , and more. The watchlist is expanding continuously to meet the needs of active traders. List of Compatible Symbols Available Here: www.tradingview.com
🔶How does the indicator work and why is it unique?
This is not just another GEX indicator. It incorporates 15min delayed option chain data from ORATS as data provider, processes and refines the delayed data package using pineseed, and sends it to TradingView, visualizing the key GEX levels using specific formulas (see detailed below). This method of incorporating options data into a visualization framework is unique and entirely innovative on TradingView.
Unlike other providers that only set GEX levels at market open, this indicator adjusts dynamically throughout the day, providing updated insights across the trading day and capturing gamma shifts as the market moves.
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🌑 𝗗 𝗢 𝗖 𝗨 𝗠 𝗘 𝗡 𝗧 𝗔 𝗧 𝗜 𝗢 𝗡 🌑
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🔶 Understanding GEX (Gamma Exposure) and Gamma Profiling
Gamma Exposure (GEX) is a crucial concept in options trading because it reveals how options market positions can influence the dynamics of asset prices. In essence, GEX measures the collective gamma exposure of options market participants, impacting overall market stability and price movements.
🔹 What is GEX?
At its core, GEX captures the aggregate impact of gamma, a key options Greek, which tells us how an option's delta changes in response to price movements in the underlying asset. Positive or negative GEX levels can reflect the collective bullish or bearish stance of the market:
Positive GEX (far above HVL) : Indicates a net bullish positioning by options holders. When GEX is strongly positive, it suggests that as the asset price increases, market participants might need to buy more of the asset to maintain their hedges. This behavior can fuel further upward momentum.
Negative GEX (far below HVL) : Implies a net bearish positioning. In a strongly negative GEX environment, declines in the asset's price might prompt participants to sell, potentially exacerbating the downward movement.
🔹 The Influence of GEX on Strike Prices and Expiration
A unique feature of GEX is its impact near expiration dates. As options approach expiration, GEX levels can “pin” the price to specific strike levels, where options positions are concentrated. This pinning effect arises as market makers adjust their hedging strategies, often causing the asset price to gravitate towards certain strike prices, where a large volume of options contracts sits.
🟨 Overview of our GEX Calculation Models for Options Traders 🟨
Our GEX indicator models were developed with serious options traders in mind, providing flexibility beyond typical GEX providers. We know that using GEX levels for multi-leg strategies, where the underlying doesn't need a strong trend to be profitable , calls for a nuanced approach that aligns with different trading horizons. Here’s a detailed breakdown of our GEX calculation models and how they support strategic trading across varying timeframes.
Thus, the HVL an orher CALL/PUT WALLS depends on the indicator's selected calculation mode and expiration. The NETGEX profile of the chosen expiration appears on the HVL line , which automatically updates five times during trading hours , except for 0DTE, which reflects the value set at market open.
🔶 Cumulative Expiration (⅀) Calculation Method
This method aggregates GEX data for all expirations up to the selected date , giving you a more comprehensive view of market dynamics. We recommend using this method, as it allows you to see how combined expirations impact GEX levels, which can be critical when setting up trades with a longer time horizon.
🔶 Selected Alone (⊙) Calculation Method
This option displays the GEX profile specific to only the chosen expiration , providing a unique, time-bound view. This approach is ideal for those seeking precise insight into how an individual expiration is performing without the broader context of other expirations.
🔶 Example of using calculation methods:
With options trading, especially for multi-leg strategies, choosing the right expiration and calculation model is crucial. Let’s break down an example:
Suppose you’re considering a Friday (4DTE) front-leg diagonal on the SPX at the start of the week. In this case, the focus isn’t strictly on any single expiration (like 0DTE or 4DTE individually), but rather on what might happen cumulatively by Friday across all expirations . Here, the Cumulative Expiration (⅀) model comes into play, as it shows you an aggregated view of the GEX profile, factoring in all strikes and legs for all expirations leading up to the selected date.
For most use cases, we recommend setting your indicator to the Cumulative (⅀) model , which provides a broad and insightful look at GEX levels across multiple expirations. However, you can always switch to Selected Alone (⊙) for targeted analysis of an individual expiration. Remember, 0DTE defaults to “Selected Alone”, and Every Expiry always shows a cumulative value by default.
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🟦 HVL (High Volatility Level) 🟦
Also known as the Gamma FLIP level or Zero Gamma , it represents the price level at which the gamma environment transitions from positive to negative or vice versa. The High Volatility Level (HVL) is a critical point for understanding gamma shifts and anticipating volatility. This shift influences how market makers hedge their positions, potentially increasing or dampening market volatility.
🔷 Understanding the Gamma Flip and HVL
At its core, the gamma flip represents the point where market makers may transition from a net positive to a net negative gamma position, or the reverse. When prices move above HVL, gamma is positive, often leading to lower volatility due to the stabilizing effects of market makers’ hedging. Conversely, when prices drop below HVL, gamma flips negative, and hedging by market makers can amplify volatility as they trade with the direction of price movements.
The HVL (High Volatility Level) is particularly important as it signals a shift in the impact of price movements on the GEX profile. Using the cumulative calculation mode, GEX values are aggregated across all strikes and expirations up to the selected expiration, helping to pinpoint the point where the GEX curve's slope changes from negative to positive.
🔷 Implications for Traders and Market Makers
For market makers, crossing below HVL into a negative gamma zone means that they hedge in the same direction as price movements, potentially amplifying volatility. For traders, understanding HVL's role is essential to choosing strategies that align with the prevailing volatility regime:
Positive GEX 🟢:
Above HVL, where GEX is positive, market makers hedge by buying stocks as prices fall and selling as prices rise. This has a stabilizing effect, creating a lower-volatility environment.
Negative GEX 🔴:
Below HVL, where GEX is negative, market makers' hedging aligns with price movements, increasing volatility. Here, they buy as prices rise and sell as they fall, reinforcing price direction.
🔷 HVL as a Momentum and Volatility Indicator
The HVL offers traders insight into potential shifts in market momentum. For example, above HVL, if the price increases, Net GEX also rises, which stabilizes prices as market makers hedge in opposition to price direction. Below HVL, however, a price rise decreases Net GEX, creating conditions where market makers’ hedging amplifies price movements, resulting in a more volatile environment.
HVL also acts as a significant support level, often preceding put supports. If the price falls below this level, traders may expect heightened volatility and increased bearish sentiment.
Knowing the location of HVL is vital for positioning yourself on the right side of volatility. By monitoring the HVL, traders can better anticipate shifts in sentiment and align strategies with prevailing market dynamics.
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🟩 Call Resistance and Call Wall Levels 🟩
In options trading, understanding GEX levels like Call Resistance and Call Wall levels is crucial for navigating potential price inflection points. Our indicator provides these levels directly on your chart, allowing you to customize and optimize your trading approach. Here’s a detailed guide to help you understand and use Call Resistance and additional Call Wall levels effectively.
🟢 Call Resistance Level
The Call Resistance Level is a key point where our model indicates heightened Call GEX concentration. This level serves as a potential resistance area where price movement may face a barrier, slowing or even reversing before a breakout. Here’s how the Call Resistance Level can influence market behavior:
Resistance and Price Reversal ⬇️ : Similar to the Put Support level, the Call Resistance acts as a "sticky" price level, where upward movement encounters resistance. When the price approaches this level, it’s common for market makers to begin shorting to maintain delta neutrality. This shorting activity, combined with the potential monetization of calls, introduces a technical bearish force in the short term, often causing the price to bounce downward.
Upside Acceleration Point ⬆️ : If investors reposition calls to higher strikes as the price reaches Call Resistance, this level can roll up, allowing the price to push upward and potentially accelerating the rally. This effect can drive the market to higher levels as market makers adjust their positions accordingly.
🟢 Additional Call Wall Levels
Our model identifies the second and third-highest Call GEX levels, known as additional Call Walls. These levels are often secondary resistance points but hold significance as they add layers of possible resistance or breakout points. They offer similar potential as the primary Call Resistance level, acting as either:
Resistance Zones: Slowing the price momentum as it approaches these levels.
Inflection Points for Upside Momentum: Allowing for a possible continuation of upward movement if prices break through.
🟢 How to Trade the Call Resistance Level
To use the Call Resistance level effectively, look for possible price rejections or consolidations as the price approaches this zone. Here are the main scenarios:
Bounce to Downside: As the price nears the Call Resistance level, market makers’ delta-hedging activity (through shorting) can turn this level into a short-term bearish force, leading to price pullbacks.
Rolling the Position: For bulls, a key objective at the Call Resistance level is to see investors roll their call positions higher, effectively moving the resistance up. This repositioning may lead to incremental price gains as the Call Resistance level rises with each roll.
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🟥 Put Support and Put Wall Levels 🟥
In options trading, understanding GEX levels like Put Support and secondary Put Wall levels is essential for managing potential price support points and gauging downside risk. Our indicator places these levels directly on your chart, allowing for customization to enhance your trading strategy. Here’s a detailed guide to help you leverage the Put Support and additional Put Wall levels effectively.
🔴 Put Support Level
The Put Support Level is a key zone where our model shows the highest concentration of negative GEX, representing an area with substantial put option interest. This level functions as a potential support zone, where price may stabilize or bounce upward, or as an inflection point, signaling increased downside momentum. Here’s how the Put Support Level can affect market behavior:
Support and Price Reversal🔺 : Similar to how Call Resistance operates on the upside, the Put Support Level often acts as a "sticky" level on the downside, where price finds support. As the asset price moves closer to this level, market makers begin adjusting their positions, frequently buying to maintain delta neutrality. This activity can create a temporary short squeeze, pushing prices back up.
Downside Acceleration Point 🔻 : If the asset continues moving lower, triggering more hedging activity, this level can become a tipping point for accelerated downside momentum.
🔴 Additional Put Wall Levels
Our model also identifies the second and third-highest negative GEX levels, known as secondary Put Walls. These levels are often seen as secondary support points and hold significance by adding layers of support or potential downside inflection points. Like the primary Put Support Level, they can act in two ways:
Support Zones: Helping slow price declines as they approach these levels.
Downside Inflection Points: Allowing further price decline if the support fails.
🔴 How Investors Hedge with Put Options
Investors commonly use put options to hedge long positions and protect portfolios, especially during times of market stress when implied volatility rises. This demand for puts increases the Put Skew, as market makers short to remain delta hedged.
As prices approach the Put Support Level, the hedging activity often intensifies because more puts become At the Money (ATM) or In the Money (ITM). To realize the value of their hedges, investors typically monetize these puts at this level, triggering the closing of short positions by market makers and resulting in a price bounce.
🔴 The Role of Implied Volatility
Implied Volatility (IV) is also a critical factor since it directly influences market flows. If IV driving put flows decreases, market makers may buy back shorts, which contributes to the bounce at the Put Support Level. Additionally, another Greek, Vanna—representing changes in delta due to IV shifts—plays a vital role here. As IV changes, Vanna affects delta-hedging adjustments, adding a layer of complexity to understanding market makers' actions around these support levels.
🔴 Possible Price Scenarios at the Put Support Level
When the price reaches the Put Support Level, there are generally two scenarios:
Bounce to Upside🔺 : The Put Support Level is where substantial put hedging activity happens. As prices approach, market makers adjust their delta by buying, which can push prices back up.
Roll Positions🔻 : After monetizing puts, investors have two options: roll hedges to higher strikes if they expect a bullish move, or open new out-of-the-money puts at lower strikes. If new hedges are set at lower levels, the Put Support level may also shift lower, creating a new bearish force as market makers begin hedging these new positions.
🟨 Customizing Put Support/Call Resistance and Put/Call Wall Levels on Your Chart
Our indicator settings provide extensive customization options for displaying Put Support, Call Resistance, and Put/Call Wall levels.
You can:
adjust the depth to highlight the highest positive or negative NETGEX levels
choose to display relative data, show only the colored strike line
adjust the offset for enhanced visibility.
This flexibility helps you focus on the critical details that best align with your trading strategy, ensuring a clearer and more tailored view of the GEX levels on your chart.
Currently, we examine the top three levels with the highest positive and negative NETGEX values, allowing you to view seven key GEX levels on your chart (3 Call + 1 HVL + 3 Put). However, in the near future, we plan to expand this to seven levels per side, resulting in a total of up to 15 significant GEX levels on the chart instead of the current 7. This enhancement will cater to all needs, especially benefiting 0DTE traders.
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🔶 ADDITIONAL IMPORTANT COMMENTS
🔹- Why is there a slight difference between the displayed data and other GEX provider's data like MenthorQ, GammaEdge, SpotGamma, GEXBot, etc?
There are two reasons for this, and one is beyond our control:
🔹 (1) Option-data update frequency:
According to TradingView's regulations and guidelines, we can update external data a maximum of 5 times per day. We strive to use these updates in the most optimal way:
(1st update) 15 minutes after U.S. market open
(2nd, 3rd, 4th updates) 1.5–3 hours during U.S. market open hours
(5th update) 10 minutes before U.S. market close.
You don’t need to refresh your window; our latest refreshed data pack is always automatically applied to your indicator. You can see the time elapsed since the last update by hovering over the HVL.
🔹 (2) GEX Levels with Intraday Updates Based on Price Movements
The TanukiTrade Options GEX Indicator for TradingView provides open interest data with a 15-minute delay after the market opens. Using this data, we calculate and update the relevant levels throughout the trading day, reflecting almost real-time price changes and gamma values. Unlike other GEX providers, who set their GEX levels solely at market open without further updates, we dynamically adjust our levels intraday to capture significant price shifts.
🔹 Automatic & Seamless Intraday Updates and Special Cases
For our indicator, the HVL (High Volatility Level) reflects the selected calculation mode and expiration. We update these NETGEX profiles five times throughout the trading day, with one exception: 0DTE data, which is set at market open and does not update intraday due to the rapid narrowing of gamma levels . Note that similar to other GEX providers, our 0DTE remains fixed at open, while cumulative values update during the day based on almost real-time market movements.
🔹Consistent SPX 0DTE GEX Levels with Morning Open Interest Updates Only
For SPX, the 0DTE (Zero Days to Expiration) options and GEX levels are calculated based on openinterest data provided by the clearinghouse at market open. Due to the exponential narrowing of gamma levels throughout the day, we do not update these levels intraday, unlike other expirations. Therefore, if you select the expiring contract on that day, you’ll see the exact morning level, as it was calculated at market open. This status is also published the previous evening, based on the data available then, so you can already view the levels for the following day’s 1DTE (next day’s 0DTE) before market close. After market open, around 15 minutes later, this level is updated with the latest open interest data and remains unchanged for the rest of the day. Other providers take a similar approach. We do not support intraday volume-based GEX calculations, as our benchmarks show this can produce misleading results.
Disclaimer:
Our option indicator uses approximately 15min-3 hour delayed option market snapshot data to calculate the main option metrics. Exact realtime option contract prices are never displayed; only derived GEX metrics are shown to ensure accurate and consistent visualization. Due to the above, this indicator can only be used for decision support; exclusive decisions cannot be made based on this indicator. We reserve the right to make errors.This indicator is designed for options traders who understand what they are doing. It assumes that they are familiar with options and can make well-informed, independent decisions. We work with paid delayed data and we are not a data provider; therefore, we do not bear any financial or other liability.
GEX Profile [Lite] Real Auto-Updated Gamma Exposure LevelsReal GEX Levels with Seamless Auto-updates for 5 U.S. market symbols (AAPL, TSLA, ORCL, DIA, AMZN)
🔃 Dynamic Updates : Receive precise GEX levels with auto-updating metrics up to 5 times a day throughout the trading session—no manual refresh needed!
🍒 Strategically Developed : Built by experienced options traders to meet the needs of serious options market participants.
🕒 0DTE? No Problem! : Designed with 0DTE traders in mind, our indicator keeps you updated with GEX levels and seamless auto-refresh to capture every crucial market shift.
📈 Optimized for Option Traders : See accurate NETGEX profile for multiple expirations to maximize strategic potential.
🔶 Comprehensive GEX Levels
This indicator provides unparalleled insight into market dynamics with levels like Call/Put Support, Resistance, HVL (High Volatility Level), and Call/Put Walls. These levels are auto-updated based on live market movements and reflect gamma shifts and volatility signals essential for options traders.
🔶 Ticker Information:
This 'Lite' indicator is currently only available for 5 liquid U.S. market smbols:
NASDAQ:TSLA NASDAQ:AAPL NASDAQ:AMZN AMEX:DIA and NYSE:ORCL
🔶 Ideal for 0DTE and Multi-Leg Strategies
Track essential GEX levels across expirations with our unique Cumulative (⅀) and Selected Alone (⊙) calculation models. Customize your view to reveal high-impact levels across multiple expirations or focus on a specific expiration for a targeted strategy.
🔶How does the indicator work and why is it unique?
This is not just another GEX indicator. It incorporates 15min delayed option chain data from ORATS as data provider, processes and refines the delayed data package using pineseed, and sends it to TradingView, visualizing the key GEX levels using specific formulas (see detailed below). This method of incorporating options data into a visualization framework is unique and entirely innovative on TradingView.
Unlike other providers that only set GEX levels at market open, this indicator adjusts dynamically throughout the day, providing updated insights across the trading day and capturing gamma shifts as the market moves.
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🌑 𝗗 𝗢 𝗖 𝗨 𝗠 𝗘 𝗡 𝗧 𝗔 𝗧 𝗜 𝗢 𝗡 🌑
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🔶 Understanding GEX (Gamma Exposure) and Gamma Profiling
Gamma Exposure (GEX) is a crucial concept in options trading because it reveals how options market positions can influence the dynamics of asset prices. In essence, GEX measures the collective gamma exposure of options market participants, impacting overall market stability and price movements.
🔹 What is GEX?
At its core, GEX captures the aggregate impact of gamma, a key options Greek, which tells us how an option's delta changes in response to price movements in the underlying asset. Positive or negative GEX levels can reflect the collective bullish or bearish stance of the market:
Positive GEX (far above HVL) : Indicates a net bullish positioning by options holders. When GEX is strongly positive, it suggests that as the asset price increases, market participants might need to buy more of the asset to maintain their hedges. This behavior can fuel further upward momentum.
Negative GEX (far below HVL) : Implies a net bearish positioning. In a strongly negative GEX environment, declines in the asset's price might prompt participants to sell, potentially exacerbating the downward movement.
🔹 The Influence of GEX on Strike Prices and Expiration
A unique feature of GEX is its impact near expiration dates. As options approach expiration, GEX levels can “pin” the price to specific strike levels, where options positions are concentrated. This pinning effect arises as market makers adjust their hedging strategies, often causing the asset price to gravitate towards certain strike prices, where a large volume of options contracts sits.
🟨 Overview of our GEX Calculation Models for Options Traders 🟨
Our GEX indicator models were developed with serious options traders in mind, providing flexibility beyond typical GEX providers. We know that using GEX levels for multi-leg strategies, where the underlying doesn't need a strong trend to be profitable , calls for a nuanced approach that aligns with different trading horizons. Here’s a detailed breakdown of our GEX calculation models and how they support strategic trading across varying timeframes.
Thus, the HVL an orher CALL/PUT WALLS depends on the indicator's selected calculation mode and expiration. The NETGEX profile of the chosen expiration appears on the HVL line , which automatically updates five times during trading hours , except for 0DTE, which reflects the value set at market open.
🔶 Cumulative Expiration (⅀) Calculation Method
This method aggregates GEX data for all expirations up to the selected date , giving you a more comprehensive view of market dynamics. We recommend using this method, as it allows you to see how combined expirations impact GEX levels, which can be critical when setting up trades with a longer time horizon.
🔶 Selected Alone (⊙) Calculation Method
This option displays the GEX profile specific to only the chosen expiration , providing a unique, time-bound view. This approach is ideal for those seeking precise insight into how an individual expiration is performing without the broader context of other expirations.
🔶 Example of using calculation methods:
With options trading, especially for multi-leg strategies, choosing the right expiration and calculation model is crucial. Let’s break down an example:
Suppose you’re considering a Friday (4DTE) front-leg diagonal on the SPX at the start of the week. In this case, the focus isn’t strictly on any single expiration (like 0DTE or 4DTE individually), but rather on what might happen cumulatively by Friday across all expirations . Here, the Cumulative Expiration (⅀) model comes into play, as it shows you an aggregated view of the GEX profile, factoring in all strikes and legs for all expirations leading up to the selected date.
For most use cases, we recommend setting your indicator to the Cumulative (⅀) model , which provides a broad and insightful look at GEX levels across multiple expirations. However, you can always switch to Selected Alone (⊙) for targeted analysis of an individual expiration. Remember, 0DTE defaults to “Selected Alone”, and Every Expiry always shows a cumulative value by default.
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🟦 HVL (High Volatility Level) 🟦
Also known as the Gamma FLIP level or Zero Gamma , it represents the price level at which the gamma environment transitions from positive to negative or vice versa. The High Volatility Level (HVL) is a critical point for understanding gamma shifts and anticipating volatility. This shift influences how market makers hedge their positions, potentially increasing or dampening market volatility.
🔷 Understanding the Gamma Flip and HVL
At its core, the gamma flip represents the point where market makers may transition from a net positive to a net negative gamma position, or the reverse. When prices move above HVL, gamma is positive, often leading to lower volatility due to the stabilizing effects of market makers’ hedging. Conversely, when prices drop below HVL, gamma flips negative, and hedging by market makers can amplify volatility as they trade with the direction of price movements.
The HVL (High Volatility Level) is particularly important as it signals a shift in the impact of price movements on the GEX profile. Using the cumulative calculation mode, GEX values are aggregated across all strikes and expirations up to the selected expiration, helping to pinpoint the point where the GEX curve's slope changes from negative to positive.
🔷 Implications for Traders and Market Makers
For market makers, crossing below HVL into a negative gamma zone means that they hedge in the same direction as price movements, potentially amplifying volatility. For traders, understanding HVL's role is essential to choosing strategies that align with the prevailing volatility regime:
Positive GEX 🟢:
Above HVL, where GEX is positive, market makers hedge by buying stocks as prices fall and selling as prices rise. This has a stabilizing effect, creating a lower-volatility environment.
Negative GEX 🔴:
Below HVL, where GEX is negative, market makers' hedging aligns with price movements, increasing volatility. Here, they buy as prices rise and sell as they fall, reinforcing price direction.
🔷 HVL as a Momentum and Volatility Indicator
The HVL offers traders insight into potential shifts in market momentum. For example, above HVL, if the price increases, Net GEX also rises, which stabilizes prices as market makers hedge in opposition to price direction. Below HVL, however, a price rise decreases Net GEX, creating conditions where market makers’ hedging amplifies price movements, resulting in a more volatile environment.
HVL also acts as a significant support level, often preceding put supports. If the price falls below this level, traders may expect heightened volatility and increased bearish sentiment.
Knowing the location of HVL is vital for positioning yourself on the right side of volatility. By monitoring the HVL, traders can better anticipate shifts in sentiment and align strategies with prevailing market dynamics.
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🟩 Call Resistance and Call Wall Levels 🟩
In options trading, understanding GEX levels like Call Resistance and Call Wall levels is crucial for navigating potential price inflection points. Our indicator provides these levels directly on your chart, allowing you to customize and optimize your trading approach. Here’s a detailed guide to help you understand and use Call Resistance and additional Call Wall levels effectively.
🟢 Call Resistance Level
The Call Resistance Level is a key point where our model indicates heightened Call GEX concentration. This level serves as a potential resistance area where price movement may face a barrier, slowing or even reversing before a breakout. Here’s how the Call Resistance Level can influence market behavior:
Resistance and Price Reversal ⬇️ : Similar to the Put Support level, the Call Resistance acts as a "sticky" price level, where upward movement encounters resistance. When the price approaches this level, it’s common for market makers to begin shorting to maintain delta neutrality. This shorting activity, combined with the potential monetization of calls, introduces a technical bearish force in the short term, often causing the price to bounce downward.
Upside Acceleration Point ⬆️ : If investors reposition calls to higher strikes as the price reaches Call Resistance, this level can roll up, allowing the price to push upward and potentially accelerating the rally. This effect can drive the market to higher levels as market makers adjust their positions accordingly.
🟢 Additional Call Wall Levels
Our model identifies the second and third-highest Call GEX levels, known as additional Call Walls. These levels are often secondary resistance points but hold significance as they add layers of possible resistance or breakout points. They offer similar potential as the primary Call Resistance level, acting as either:
Resistance Zones: Slowing the price momentum as it approaches these levels.
Inflection Points for Upside Momentum: Allowing for a possible continuation of upward movement if prices break through.
🟢 How to Trade the Call Resistance Level
To use the Call Resistance level effectively, look for possible price rejections or consolidations as the price approaches this zone. Here are the main scenarios:
Bounce to Downside: As the price nears the Call Resistance level, market makers’ delta-hedging activity (through shorting) can turn this level into a short-term bearish force, leading to price pullbacks.
Rolling the Position: For bulls, a key objective at the Call Resistance level is to see investors roll their call positions higher, effectively moving the resistance up. This repositioning may lead to incremental price gains as the Call Resistance level rises with each roll.
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🟥 Put Support and Put Wall Levels 🟥
In options trading, understanding GEX levels like Put Support and secondary Put Wall levels is essential for managing potential price support points and gauging downside risk. Our indicator places these levels directly on your chart, allowing for customization to enhance your trading strategy. Here’s a detailed guide to help you leverage the Put Support and additional Put Wall levels effectively.
🔴 Put Support Level
The Put Support Level is a key zone where our model shows the highest concentration of negative GEX, representing an area with substantial put option interest. This level functions as a potential support zone, where price may stabilize or bounce upward, or as an inflection point, signaling increased downside momentum. Here’s how the Put Support Level can affect market behavior:
Support and Price Reversal🔺 : Similar to how Call Resistance operates on the upside, the Put Support Level often acts as a "sticky" level on the downside, where price finds support. As the asset price moves closer to this level, market makers begin adjusting their positions, frequently buying to maintain delta neutrality. This activity can create a temporary short squeeze, pushing prices back up.
Downside Acceleration Point 🔻 : If the asset continues moving lower, triggering more hedging activity, this level can become a tipping point for accelerated downside momentum.
🔴 Additional Put Wall Levels
Our model also identifies the second and third-highest negative GEX levels, known as secondary Put Walls. These levels are often seen as secondary support points and hold significance by adding layers of support or potential downside inflection points. Like the primary Put Support Level, they can act in two ways:
Support Zones: Helping slow price declines as they approach these levels.
Downside Inflection Points: Allowing further price decline if the support fails.
🔴 How Investors Hedge with Put Options
Investors commonly use put options to hedge long positions and protect portfolios, especially during times of market stress when implied volatility rises. This demand for puts increases the Put Skew, as market makers short to remain delta hedged.
As prices approach the Put Support Level, the hedging activity often intensifies because more puts become At the Money (ATM) or In the Money (ITM). To realize the value of their hedges, investors typically monetize these puts at this level, triggering the closing of short positions by market makers and resulting in a price bounce.
🔴 The Role of Implied Volatility
Implied Volatility (IV) is also a critical factor since it directly influences market flows. If IV driving put flows decreases, market makers may buy back shorts, which contributes to the bounce at the Put Support Level. Additionally, another Greek, Vanna—representing changes in delta due to IV shifts—plays a vital role here. As IV changes, Vanna affects delta-hedging adjustments, adding a layer of complexity to understanding market makers' actions around these support levels.
🔴 Possible Price Scenarios at the Put Support Level
When the price reaches the Put Support Level, there are generally two scenarios:
Bounce to Upside🔺 : The Put Support Level is where substantial put hedging activity happens. As prices approach, market makers adjust their delta by buying, which can push prices back up.
Roll Positions🔻 : After monetizing puts, investors have two options: roll hedges to higher strikes if they expect a bullish move, or open new out-of-the-money puts at lower strikes. If new hedges are set at lower levels, the Put Support level may also shift lower, creating a new bearish force as market makers begin hedging these new positions.
🟨 Customizing Put Support/Call Resistance and Put/Call Wall Levels on Your Chart
Our indicator settings provide extensive customization options for displaying Put Support, Call Resistance, and Put/Call Wall levels.
You can:
adjust the depth to highlight the highest positive or negative NETGEX levels
choose to display relative data, show only the colored strike line
adjust the offset for enhanced visibility.
This flexibility helps you focus on the critical details that best align with your trading strategy, ensuring a clearer and more tailored view of the GEX levels on your chart.
Currently, we examine the top three levels with the highest positive and negative NETGEX values, allowing you to view seven key GEX levels on your chart (3 Call + 1 HVL + 3 Put). However, in the near future, we plan to expand this to seven levels per side, resulting in a total of up to 15 significant GEX levels on the chart instead of the current 7. This enhancement will cater to all needs, especially benefiting 0DTE traders.
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🔶 ADDITIONAL IMPORTANT COMMENTS
🔹- Why is there a slight difference between the displayed data and other GEX provider's data like MenthorQ, GammaEdge, SpotGamma, GEXBot, etc?
There are two reasons for this, and one is beyond our control:
🔹 (1) Option-data update frequency:
According to TradingView's regulations and guidelines, we can update external data a maximum of 5 times per day. We strive to use these updates in the most optimal way:
(1st update) 15 minutes after U.S. market open
(2nd, 3rd, 4th updates) 1.5–3 hours during U.S. market open hours
(5th update) 10 minutes before U.S. market close.
You don’t need to refresh your window; our latest refreshed data pack is always automatically applied to your indicator. You can see the time elapsed since the last update by hovering over the HVL.
🔹 (2) GEX Levels with Intraday Updates Based on Price Movements
The TanukiTrade Options GEX Indicator for TradingView provides open interest data with a 15-minute delay after the market opens. Using this data, we calculate and update the relevant levels throughout the trading day, reflecting almost real-time price changes and gamma values. Unlike other GEX providers, who set their GEX levels solely at market open without further updates, we dynamically adjust our levels intraday to capture significant price shifts.
🔹 Automatic & Seamless Intraday Updates and Special Cases
For our indicator, the HVL (High Volatility Level) reflects the selected calculation mode and expiration. We update these NETGEX profiles five times throughout the trading day, with one exception: 0DTE data, which is set at market open and does not update intraday due to the rapid narrowing of gamma levels . Note that similar to other GEX providers, our 0DTE remains fixed at open, while cumulative values update during the day based on almost real-time market movements.
Disclaimer:
Our option indicator uses approximately 15min-3 hour delayed option market snapshot data to calculate the main option metrics. Exact realtime option contract prices are never displayed; only derived GEX metrics are shown to ensure accurate and consistent visualization. Due to the above, this indicator can only be used for decision support; exclusive decisions cannot be made based on this indicator. We reserve the right to make errors.This indicator is designed for options traders who understand what they are doing. It assumes that they are familiar with options and can make well-informed, independent decisions. We work with paid delayed data and we are not a data provider; therefore, we do not bear any financial or other liability.
Standard and Camarilla pivotsHi guys, I would like too introduce to all of you my script. As the name already tell you what this script is all about. It's about pivot points.
You may ask, Tradingview already have a script for pivot points, why would I need another script?
here is the answer: This script allow you to add more than one type of pivot, sounds good right?
But there's more: You can see not just one timeframe pivots, you can see many timeframe pivots, nice huh?
let dive into it to know a bit more.
In this script you can see daily pivots include Standard pivots as R1, R2, R3 and Camarilla pivots as cR1, cR2, cR3, and I you different color for different pivots, so you don't confuse between those two.
You can see weekly pivots the same as daily pivots only has letter "w" in front of it, for examples: "wR1, wR2, wcR1, wcR2" ,nice right?
What's about month level: yes, you can see monthly pivots too, and it start with "m".
Along with pivots points above, you also can see daily open, previous day close, previous high,.., for instances: daily open as "O", previous day open as "PDO",
You are able to see previous week level, previous month levels.
have fun.
I dont wanna lock this script because open-source script help me learn how to code pine script, so that's why I keep it open. Thank to all the coders out there that shared everything they have for us to learn.
FibExtender [tradeviZion]FibExtender : A Guide to Identifying Resistance with Fibonacci Levels
Introduction
Fibonacci levels are essential tools in technical analysis, helping traders identify potential resistance and support zones in trending markets. FibExtender is designed to make this analysis accessible to traders at all levels, especially beginners, by automating the process of plotting Fibonacci extensions. With FibExtender, you can visualize potential resistance levels quickly, empowering you to make more informed trading decisions without manually identifying every pivot point. In this article, we’ll explore how FibExtender works, guide you step-by-step in using it, and share insights for both beginner and advanced users.
What is FibExtender ?
FibExtender is an advanced tool that automates Fibonacci extension plotting based on significant pivot points in price movements. Fibonacci extensions are percentages based on prior price swings, often used to forecast potential resistance zones where price might reverse or consolidate. By automatically marking these Fibonacci levels on your chart, FibExtender saves time and reduces the complexity of technical analysis, especially for users unfamiliar with calculating and plotting these levels manually.
FibExtender not only identifies Fibonacci levels but also provides a customizable framework where you can adjust anchor points, colors, and level visibility to suit your trading strategy. This customization allows traders to tailor the indicator to fit different market conditions and personal preferences.
Key Features of FibExtender
FibExtender offers several features to make Fibonacci level analysis easier and more effective. Here are some highlights:
Automated Fibonacci Level Identification : The script automatically detects recent swing lows and pivot points to anchor Fibonacci extensions, allowing you to view potential resistance levels with minimal effort.
Customizable Fibonacci Levels : Users can adjust the specific Fibonacci levels they want to display (e.g., 0.618, 1.0, 1.618), enabling a more focused analysis based on preferred ratios. Each level can be color-coded for visual clarity.
Dual Anchor Points : FibExtender allows you to choose between anchoring levels from either the last pivot low or a recent swing low, depending on your preference. This flexibility helps in aligning Fibonacci levels with key market structures.
Transparency and Visual Hierarchy : FibExtender automatically adjusts the transparency of levels based on their "sequence age," creating a subtle visual hierarchy. Older levels appear slightly faded, helping you focus on more recent, potentially impactful levels.
Connection Lines for Context : FibExtender draws connecting lines from recent lows to pivot highs, allowing users to visualize the price movements that generated each Fibonacci extension level.
Step-by-Step Guide for Beginners
Let’s walk through how to use the FibExtender script on a TradingView chart. This guide will ensure that you’re able to set it up and interpret the key information displayed by the indicator.
Step 1: Adding FibExtender to Your Chart
Open your TradingView chart and select the asset you wish to analyze.
Search for “FibExtender ” in the Indicators section.
Click to add the indicator to your chart, and it will automatically plot Fibonacci levels based on recent pivot points.
Step 2: Customizing Fibonacci Levels
Adjust Levels : Under the "Fibonacci Settings" tab, you can enable or disable specific levels, such as 0.618, 1.0, or 1.618. You can also change the color for each level to improve visibility.
Set Anchor Points : Choose between "Last Pivot Low" and "Recent Swing Low" as your Fibonacci anchor point. If you want a broader view, choose "Recent Swing Low"; if you prefer tighter levels, "Last Pivot Low" may be more suitable.
Fib Line Length : Modify the line length for Fibonacci levels to make them more visible on your chart.
Step 3: Spotting Visual Clusters (Manual Analysis)
Identify Potential Resistance Clusters : Look for areas on your chart where multiple Fibonacci levels appear close together. For example, if you see 1.0, 1.272, and 1.618 levels clustered within a small price range, this may indicate a stronger resistance zone.
Why Clusters Matter : Visual clusters often signify areas where traders expect heightened price reaction. When levels are close, it suggests that resistance may be reinforced by multiple significant ratios, making it harder for price to break through. Use these clusters to anticipate potential pullbacks or consolidation areas.
Step 4: Observing the Price Action Around Fibonacci Levels
As price approaches these identified levels, watch for any slowing momentum or reversal patterns, such as doji candles or bearish engulfing formations, that might confirm resistance.
Adjust Strategy Based on Resistance : If price hesitates or reverses at a clustered resistance zone, it may be a signal to secure profits or tighten stops on a long position.
Advanced Insights (for Intermediate to Advanced Users)
For users interested in the technical workings of FibExtender, this section provides insights into how the indicator functions on a code level.
Pivot Point and Swing Detection
FibExtender uses a pivot-high and pivot-low detection function to identify significant price points. The upFractal and dnFractal variables detect these levels based on recent highs and lows, creating the basis for Fibonacci extension calculations. Here’s an example of the code used for this detection:
// Fractal Calculations
upFractal = ta.pivothigh(n, n)
dnFractal = ta.pivotlow(n, n)
By setting the number of periods for n, users can adjust the sensitivity of the script to recent price swings.
Fibonacci Level Calculation
The following function calculates the Fibonacci levels based on the selected pivot points and applies each level’s specific ratio (e.g., 0.618, 1.618) to project extensions above the recent price swing.
calculateFibExtensions(float startPrice, float highPrice, float retracePrice) =>
fibRange = highPrice - startPrice
var float levels = array.new_float(0)
array.clear(levels)
if array.size(fibLevels) > 0
for i = 0 to array.size(fibLevels) - 1
level = retracePrice + (fibRange * array.get(fibLevels, i))
array.push(levels, level)
levels
This function iterates over each level enabled by the user, calculating extensions by multiplying the price range by the corresponding Fibonacci ratio.
Example Use Case: Identifying Resistance in Microsoft (MSFT)
To better understand how FibExtender highlights resistance, let’s look at Microsoft’s stock chart (MSFT), as shown in the image. The chart displays several Fibonacci levels extending upward from a recent pivot low around $408.17. Here’s how you can interpret the chart:
Clustered Resistance Levels : In the chart, note the grouping of several Fibonacci levels in the range of $450–$470. These levels, particularly when tightly packed, suggest a zone where Microsoft may encounter stronger resistance, as multiple Fibonacci levels signal potential barriers.
Applying Trading Strategies : As price approaches this clustered resistance, traders can watch for weakening momentum. If price begins to stall, it may be wise to lock in profits on long positions or set tighter stop-loss orders.
Observing Momentum Reversals : Look for specific candlestick patterns as price nears these levels, such as bearish engulfing candles or doji patterns. Such patterns can confirm resistance, helping you make informed decisions on whether to exit or manage your position.
Conclusion: Harnessing Fibonacci Extensions with FibExtender
FibExtender is a powerful tool for identifying potential resistance levels without the need for manual Fibonacci calculations. It automates the detection of key swing points and projects Fibonacci extensions, offering traders a straightforward approach to spotting potential resistance zones. For beginners, FibExtender provides a user-friendly gateway to technical analysis, helping you visualize levels where price may react.
For those with a bit more experience, the indicator offers insight into pivot points and Fibonacci calculations, enabling you to fine-tune the analysis for different market conditions. By carefully observing price reactions around clustered levels, users can identify areas of stronger resistance and refine their trade management strategies accordingly.
FibExtender is not just a tool but a framework for disciplined analysis. Using Fibonacci levels for guidance can support your trading decisions, helping you recognize areas where price might struggle or reverse. Integrating FibExtender into your trading strategy can simplify the complexity of Fibonacci extensions and enhance your understanding of resistance dynamics.
Note: Always practice proper risk management and thoroughly test the indicator to ensure it aligns with your trading strategy. Past performance is not indicative of future results.
Trade smarter with TradeVizion—unlock your trading potential today!
gann fib levelsDescription of gann fib Levels
Input Value Level:
Purpose: This level is the starting point for calculating support and resistance. Users can input a specific high or low price value that serves as the foundation for subsequent calculations.
Visual Representation: A bold blue line indicates this level prominently on the chart, making it easy to identify. Additionally, a horizontal magenta line provides a reference to this initial price level.
Support Levels:
Definition: Support levels are price points where a downtrend can be expected to pause due to buying interest. They act as a floor that prevents the price from falling further.
Calculation: Support levels are derived by calculating the square root of the input value, adjusting it downward by a defined step (0.25), and squaring the result to find potential support points.
Visual Representation: Each support level is plotted with a red line when the current price is below the support level and changes to green when the price is above it. Every fourth support level is depicted with a bolder line for emphasis.
Resistance Levels:
Definition: Resistance levels are price points where an uptrend can be expected to pause due to selling interest. They serve as a ceiling that prevents the price from rising further.
Calculation: Resistance levels are calculated similarly to support levels, using the square root of the input value but adjusting it upward by the defined step (0.25) before squaring the result.
Visual Representation: Each resistance level is plotted with a green line when the current price is below the resistance level and turns red when the price is above it. Like support levels, every fourth resistance line is bolded for easier identification.
Dynamic Behavior:
Crossing Logic: When the current market price crosses above a resistance level, that level transforms into a support level, effectively changing its role. Conversely, if the price crosses below a support level, it transforms into a resistance level. This dynamic behavior reflects real-time market sentiment and helps traders identify potential reversal points.
Summary
This Pine Script provides a visual representation of dynamic support and resistance levels based on a user-defined input price. With distinct color coding and bold lines for significant levels, traders can quickly assess market conditions, identify potential buy or sell signals, and make informed trading decisions. The system's adaptability allows it to reflect the latest market movements, enhancing its utility as a trading tool.
Relative Measured Volatility (RMV) – Spot Tight Entry ZonesTitle: Relative Measured Volatility (RMV) – Spot Tight Entry Zones
Introduction
The Relative Measured Volatility (RMV) indicator is designed to highlight tight price consolidation zones , making it an ideal tool for traders seeking optimal entry points before potential breakouts. By focusing on tightness rather than general volatility, RMV offers traders a practical way to detect consolidation phases that often precede significant market moves.
How RMV Works
The RMV calculates short-term tightness by averaging three ATR (Average True Range) values over different lookback periods and then normalizing them within a specified lookback window. The result is a percentage-based scale from 0 to 100, indicating how tight the current price range is compared to recent history.
Here’s the breakdown:
Three ATR values are computed using user-defined short lookback periods to represent short-term price movements. An average of the ATRs provides a smoothed measure of current tightness. The RMV normalizes this average against the highest and lowest values over the defined lookback period, scaling it from 0 to 100.
This approach helps traders identify consolidation zones that are more likely to lead to breakouts.
Key Features of RMV
Multi-Period ATR Calculation : Uses three ATR values to effectively capture market tightness over the short term. Normalization : Converts the tightness measure to a 0-100 scale for easy interpretation. Dynamic Histogram and Background Colors : The RMV indicator uses a color-coded system for clarity.
How to Use the RMV Indicator
Identify Tight Consolidation Zones:
a - RMV values between 0-10 indicate very tight price ranges, making this the most optimal zone for potential entries before breakouts.
b - RMV values between 11-20 suggest moderate tightness, still favorable for entries.
Monitor Potential Breakout Areas:
As RMV moves from 21-30 , tightness reduces, signaling expanding volatility that may require wider stops or more flexible entry strategies.
Adjust Trading Strategies:
Use RMV values to identify tight zones for entering trades, especially in trending markets or at key support/resistance levels.
Customize the Indicator:
a - Adjust the short-term ATR lookback periods to control sensitivity.
b - Modify the lookback period to match your trading horizon, whether short-term or long-term.
Color-Coding Guide for RMV
ibb.co
How to Add RMV to Your Chart
Open your chart on TradingView.
Go to the “Indicators” section.
Search for "Relative Measured Volatility (RMV)" in the Community Scripts section.
Click on the indicator to add it to your chart.
Customize the input parameters to fit your trading strategy.
Input Parameters
Lookback Period : Defines the period over which tightness is measured and normalized.
Short-term ATR Lookbacks (1, 2, 3) : Control sensitivity to short-term tightness.
Histogram Threshold : Sets the threshold for differentiating between bright (tight) and dim (less tight) histogram colors.
Conclusion
The Relative Measured Volatility (RMV) is a versatile tool designed to help traders identify tight entry zones by focusing on market consolidation. By highlighting narrow price ranges, the RMV guides traders toward potential breakout setups while providing clear visual cues for better decision-making. Add RMV to your trading toolkit today and enhance your ability to identify optimal entry points!
Black Tie FibonacciThis indicator plots Yesterday’s, Last Week’s, or Last Month’s Open/Close/High/Low levels, plus Fibonacci retracements and the Optimal Trade Entry (OTE) zone. It includes alerts for each key level, making it perfect for trading reactions on lower timeframes (15m-5m).
The goal of all my indicators is to save you time on manual charting—because making money shouldn’t mean being glued to a screen.
Hope you enjoy it,
Fibonacci Dynamic LevelsThis Pine Script code implements an Automatic Fibonacci Levels indicator for TradingView, designed to analyze market trends and visualize key Fibonacci retracement levels dynamically on the chart.
1. User Inputs and Settings
The script begins by defining several user-configurable settings. These include options to extend the Fibonacci lines left or right, display an anchor line (a diagonal line connecting the most recent swing high and low), and customize its color and width. Additionally, users can select the size of the swing detection (small, medium, or large) and enable or disable individual Fibonacci levels such as 0, 0.236, 0.382, and so forth, allowing for personalized adjustments based on trading preferences.
2. Trend Information
The script also incorporates a label that provides real-time trend information. Users can choose where to position this trend label on the chart (e.g., top right, bottom left), enhancing the indicator's usability by providing context on the market’s current direction.
3. Swing Detection
A crucial part of the script involves detecting swing highs and lows based on the selected swing size. This is achieved by applying a lookback period (34, 89, or 144 bars) to determine the highest and lowest points within that range. This detection is pivotal for accurately calculating the Fibonacci levels based on the identified swing points.
4. Fibonacci Level Calculation
The Fibonacci levels are drawn dynamically based on the trend direction determined by comparing the current price with a simple moving average (SMA) over 50 periods.
In a downtrend, Fibonacci levels are calculated from the swing low to the swing high, indicating potential resistance levels where prices might retrace.
Conversely, in an uptrend, Fibonacci levels are calculated from the swing high to the swing low, highlighting potential support levels where prices could bounce back.
For each Fibonacci level that is enabled, the script creates a line and a corresponding label displaying the level value and price, providing clear visual cues for traders.
5. Anchor Line Feature
The anchor line visually connects the most recent swing high and low points, offering a quick reference for traders to gauge the price action's context. This line is updated dynamically as new swing points are detected, reflecting the most current market conditions.
6. Trend Label
The trend label provides a summary of the market trend—either positive (uptrend), negative (downtrend), or flat. This label updates in real time, ensuring traders can quickly ascertain the prevailing market sentiment at a glance.
7. Cleanup Mechanism
Finally, the script includes mechanisms to clean up the drawn lines and labels whenever conditions change or when settings are modified. This ensures that the chart remains uncluttered and only displays relevant information based on the user's current settings.
Price in Time MarkerThis is intended to get the price of a market at a specific time of day, the intent being to mark the price of 'bankers fixes' such as the 'London 4pm fix' or the 'Tokyo fix', though can be used to mark any time of interest.
It shows the price up until the next days selected time. You can select the time you want to see, in a designated time zone, and it should find the correct time in your brokers zone and mark a line.
The sample chart also shows the price at this brokers day / close for reference in purple.
There are still some glitches where at least some AU, NZ and JP times don't show, but I hope to address this later.
Opinicus PDH/PDL/ONH/ONL LabelsOpinicus PDH/PDL/ONH/ONL Labels is a powerful indicator designed for futures and index traders, particularly for products like NQ (NASDAQ 100 Futures) and ES (S&P 500 E-mini Futures). This private script highlights key price levels, offering clear, actionable insights to enhance your trading strategy.
🔑 Key Features:
Prior Day High (PDH) & Prior Day Low (PDL):
Automatically labels the highest and lowest price levels from the previous trading day.
Overnight High (ONH) & Overnight Low (ONL):
Marks critical price points during the overnight session, providing valuable support and resistance levels.
Color-Coded Labels:
Easily distinguish between PDH, PDL, ONH, and ONL with distinct colors for quick reference during active trading.
Smart Money Concepts IndicatorBEST ICT AND SMC INDICATOR
The **Smart Money Concepts Indicator** is designed to enhance trading decisions by incorporating key principles from Smart Money Concepts (SMC), focusing on the detection of market structure changes, liquidity zones, order flow, and order blocks. This indicator is particularly useful for traders looking to understand market dynamics and make informed trading decisions based on advanced market analysis.
#### Key Features:
1. **Break of Structure (BOS)**:
- Identifies upward and downward breaks in market structure, indicating potential trend reversals.
- Visual markers on the chart help traders spot these critical levels.
2. **Change of Character (CHOCH)**:
- Detects significant changes in market direction, highlighting potential shifts in momentum.
- Clearly labeled signals indicate when the market may be changing its character.
3. **Order Blocks**:
- Highlights order blocks, which are key areas where significant buying or selling has occurred.
- Provides visual cues for potential support and resistance zones.
4. **Liquidity Zones**:
- Marks liquidity zones, indicating areas where buy-side or sell-side liquidity may be targeted.
- Helps traders understand where the market might draw liquidity.
5. **Dynamic Take Profit and Stop Loss Levels**:
- Calculates and plots take profit (TP) and stop loss (SL) levels based on the Average True Range (ATR) for adaptive risk management.
- Customizable multipliers allow traders to adjust levels based on their risk tolerance.
6. **Order Flow Analysis**:
- Displays bullish and bearish order flow signals based on candle close relative to open.
- Provides insights into market sentiment and potential future price action.
#### How to Use:
- **Identifying Entry and Exit Points**: Use BOS and CHOCH signals to find potential entry points, while leveraging TP and SL levels for risk management.
- **Market Analysis**: Analyze order blocks and liquidity zones to make informed decisions on market behavior.
- **Visual Confirmation**: The clear visual cues provided by the indicator make it easier to interpret market movements and align trades with institutional behavior.
#### Conclusion:
The Smart Money Concepts Indicator is an invaluable tool for traders looking to enhance their understanding of market structure and make more informed trading decisions. By integrating advanced concepts like BOS, CHOCH, and liquidity analysis, this indicator helps traders navigate the complexities of the market with greater confidence.
MT Enhanced Trend Reversal Strategy 2This strategy, called **"Enhanced Trend Reversal Strategy with Take Profit,"** is designed to identify trend reversal points based on several indicators: **Exponential Moving Averages (EMA), MACD**, and **RSI**. The strategy also includes **take-profit levels** to provide traders with suggested profit-taking points.
Key Components of the Strategy
1. **Exponential Moving Averages (EMA)**:
- The strategy uses **20 and 50-period EMAs** to determine trend direction. The shorter period (EMA 20) reacts more quickly to price changes, while the longer period (EMA 50) smooths out fluctuations.
- An **uptrend** (bullish market) is indicated when the EMA 20 is above the EMA 50. In this case, the main trend line is colored green.
- A **downtrend** (bearish market) is indicated when the EMA 20 is below the EMA 50, in which case the trend line is colored red.
- This visual indication simplifies analysis and allows traders to quickly assess the market condition.
2. **MACD (Moving Average Convergence Divergence)**:
- MACD is an oscillator that shows the difference between two EMAs (with periods 6 and 13) and a **signal line** with a period of 5.
- A **buy signal** is generated when the MACD line crosses above the signal line, indicating a potential bullish trend.
- A **sell signal** is generated when the MACD line crosses below the signal line, indicating a possible bearish trend.
- Shorter MACD periods make the strategy more sensitive to price changes, allowing for more frequent trading signals.
3. **RSI (Relative Strength Index)**:
- RSI measures the speed and magnitude of directional price movements to determine if an asset is overbought or oversold.
- The strategy uses a standard RSI period of 14, but with relaxed levels for more signals.
- **For buy entries**, RSI should be above 40, signaling the start of a bullish impulse without indicating overbought conditions.
- **For sell entries**, RSI should be below 60, signaling potential bearish movement without being oversold.
Entry Conditions
- **Buy Signal**:
- The MACD line crosses above the signal line.
- EMA 20 is above EMA 50 (uptrend).
- RSI is above 40, indicating a potential rise without overbought conditions.
- When these conditions are met, the strategy enters a **long position**.
- **Sell Signal**:
- The MACD line crosses below the signal line.
- EMA 20 is below EMA 50 (downtrend).
- RSI is below 60, indicating a possible decline without being oversold.
- When these conditions are met, the strategy enters a **short position**.
Take-Profit Levels
- **Take Profit** is calculated at 1.5% of the entry price:
- **For long positions**, take profit is set at a level 1.5% above the entry price.
- **For short positions**, take profit is set at a level 1.5% below the entry price.
- This take-profit level is displayed as a blue line on the chart, giving traders a clear idea of the target profit point for each trade.
Visualization and Colors
- The main trend line (EMA 20) changes to green in an uptrend and red in a downtrend. This provides a clear visual indicator of the current trend direction.
- Take-profit levels are displayed as blue lines, helping traders follow targets and lock in profits at recommended levels.
Usage Recommendations
- **Timeframe**: The strategy is optimized for a 30-minute timeframe. At this interval, signals are frequent enough without being overly sensitive to noise.
- **Applicability**: The strategy works well for assets with moderate to high volatility, such as stocks, cryptocurrencies, and currency pairs.
- **Risk Management**: In addition to take profit, a stop loss at around 1-2% is recommended to minimize losses in case of sudden trend reversals.
Conclusion
This strategy is designed for more frequent signals by using faster indicators and relaxed RSI conditions. It is suitable for traders seeking quick trade opportunities and clearly defined take-profit levels.
