Market Breadth - AsymmetrikMarket Breadth - Asymmetrik User Manual
Overview
The Market Breadth - Asymmetrik is a script designed to provide insights into the overall market condition by plotting three key indicators based on stocks within the S&P 500 index. It helps traders assess market momentum and strength through visual cues and is especially useful for understanding the proportion of stocks trading above their respective moving averages.
Features
1. Market Breadth Indicators:
- Breadth 20D (green line): Represents the percentage of stocks in the S&P 500 that are above their 20-day moving average.
- Breadth 50D (yellow line): Represents the percentage of stocks in the S&P 500 that are above their 50-day moving average.
- Breadth 100D (red line): Represents the percentage of stocks in the S&P 500 that are above their 100-day moving average.
2. Horizontal Lines for Context:
- Green line at 10%
- Lighter green line at 20%
- Grey line at 50%
- Light red line at 80%
- Dark red line at 90%
3. Background Color Alerts:
- Green background when all three indicators are under 20%, indicating a potential oversold market condition.
- Red background when all three indicators are over 80%, indicating a potential overbought market condition.
Interpreting the Indicator
- Market Breadth Lines: Observe the plotted lines to assess the percentage of stocks above their moving averages.
- Horizontal Lines: Use the horizontal lines to quickly identify important threshold levels.
- Background Colors: Pay attention to background colors for quick insights:
- Green: All indicators suggest a potentially oversold market condition (below 20).
- Red: All indicators suggest a potentially overbought market condition (above 80).
Troubleshooting
- If the indicator does not appear as expected, please contact me.
- This indicator works only on daily and weekly timeframes.
Conclusion
This Market Breadth Indicator offers a visual representation of market momentum and strength through three key indicators, helping you identify potential buying and selling zones.
Cerca negli script per "horizontal line"
Rolling Sortino Ratio with Ref Ticker V1.0 [ADRIDEM]Overview
The Rolling Sortino Ratio with Ref Ticker script is designed to offer a comprehensive view of the Sortino ratios for a selected reference ticker and the current ticker. This script helps investors compare risk-adjusted returns between two assets over a rolling period, providing insights into their relative performance and risk. Below is a detailed presentation of the script and its unique features.
Unique Features of the New Script
Reference Ticker Comparison : Allows users to compare the Sortino ratio of the current ticker with a reference ticker, providing a relative performance analysis. Default ticker is BTCUSDT but can be changed.
Customizable Rolling Window : Enables users to set the length for the rolling window, adapting to different market conditions and timeframes. The default value is 252 bars, which approximates one year of trading days, but it can be adjusted as needed.
Smoothing Option : Includes an option to apply a smoothing simple moving average (SMA) to the Sortino ratios, helping to reduce noise and highlight trends. The smoothing length is customizable, with a default value of 4 bars.
Visual Indicators : Plots the smoothed Sortino ratios for both the reference ticker and the current ticker, with distinct colors for easy comparison. Additionally, horizontal lines and a shaded background help identify key levels.
Dynamic Background Color : Adds a gray-blue transparent background between the Sortino ratio levels of 0 and 1, highlighting the critical region where risk-adjusted returns are assessed.
Originality and Usefulness
This script uniquely combines the analysis of Sortino ratios for a reference ticker and the current ticker, providing a comparative view of their risk-adjusted returns. The inclusion of a customizable rolling window and smoothing option enhances its adaptability and usefulness in various market conditions.
Signal Description
The script includes several features that highlight potential insights into the risk-adjusted returns of the assets:
Reference Ticker Sortino Ratio : Plotted as a red line, this represents the smoothed Sortino ratio for the user-selected reference ticker.
Current Ticker Sortino Ratio : Plotted as a white line, this represents the smoothed Sortino ratio for the current ticker.
Horizontal Lines and Background Color : Lines at 0 and 1, along with a shaded background between these levels, help to quickly identify the regions of positive and strong risk-adjusted returns.
These features assist in identifying relative performance differences and confirming the strength or weakness of risk-adjusted returns between the two tickers.
Detailed Description
Input Variables
Length for Rolling Window (`length`) : Defines the range for calculating the rolling Sortino ratio. Default is 252.
Smoothing Length (`smoothing_length`) : The number of periods for the smoothing SMA. Default is 4.
Annual Risk-Free Rate (`riskFreeRate`) : The annual risk-free rate used in the Sortino ratio calculation. Default is 0.02 (2%).
Reference Ticker (`ref_ticker`) : The ticker symbol for the reference asset. Default is "BINANCE:BTCUSDT".
Functionality
Sortino Ratio Calculation : The script calculates the daily returns, mean return, and downside deviation for both the reference ticker and the current ticker. These values are used to compute the annualized Sortino ratio.
```pine
ref_dailyReturn = ta.change(ref_close) / ref_close
ref_meanReturn = ta.sma(ref_dailyReturn, length)
ref_downsideDeviation = ta.stdev(math.min(ref_dailyReturn, 0), length)
ref_annualizedReturn = ref_meanReturn * length
ref_annualizedDownsideDev = ref_downsideDeviation * math.sqrt(length)
ref_sortinoRatio = (ref_annualizedReturn - riskFreeRate) / ref_annualizedDownsideDev
```
Smoothing : A simple moving average is applied to the Sortino ratios to smooth the data.
```pine
smoothed_ref_sortinoRatio = ta.sma(ref_sortinoRatio, smoothing_length)
smoothed_current_sortinoRatio = ta.sma(current_sortinoRatio, smoothing_length)
```
Plotting : The script plots the smoothed Sortino ratios for both the reference ticker and the current ticker, along with horizontal lines and a shaded background.
```pine
plot(smoothed_ref_sortinoRatio, title="Ref Ticker Sortino Ratio", color=color.rgb(255, 82, 82, 50), linewidth=2)
plot(smoothed_current_sortinoRatio, title="Current Ticker Sortino Ratio", color=color.white, linewidth=2)
h0 = hline(0, "Zero Line", color=color.gray)
h1 = hline(1, "One Line", color=color.gray)
fill(h0, h1, color=color.rgb(33, 150, 243, 90), title="Background")
```
How to Use
Configuring Inputs : Adjust the detection length, smoothing length, and risk-free rate as needed. Set the reference ticker to the desired asset for comparison.
Interpreting the Indicator : Use the plotted Sortino ratios and background shading to assess the relative risk-adjusted returns of the reference and current tickers.
Signal Confirmation : Look for differences in the Sortino ratios to identify potential performance advantages or weaknesses. The background shading helps to highlight key levels of risk-adjusted returns.
This script provides a detailed comparative view of risk-adjusted returns, aiding in more informed decision-making by highlighting key differences between the reference ticker and the current ticker.
Rolling Sharpe Ratio with Ref Ticker V1.0 [ADRIDEM]Overview
The Rolling Sharpe Ratio with Ref Ticker script is designed to offer a comprehensive view of the Sharpe ratios for a selected reference ticker and the current ticker. This script helps investors compare risk-adjusted returns between two assets over a rolling period, providing insights into their relative performance and risk. Below is a detailed presentation of the script and its unique features.
Unique Features of the New Script
Reference Ticker Comparison : Allows users to compare the Sharpe ratio of the current ticker with a reference ticker, providing a relative performance analysis. Default ticker is BTCUSDT but can be changed.
Customizable Rolling Window : Enables users to set the length for the rolling window, adapting to different market conditions and timeframes. The default value is 252 bars, which approximates one year of trading days, but it can be adjusted as needed.
Smoothing Option : Includes an option to apply a smoothing simple moving average (SMA) to the Sharpe ratios, helping to reduce noise and highlight trends. The smoothing length is customizable, with a default value of 4 bars.
Visual Indicators : Plots the smoothed Sharpe ratios for both the reference ticker and the current ticker, with distinct colors for easy comparison. Additionally, horizontal lines and a shaded background help identify key levels.
Dynamic Background Color : Adds a gray-blue transparent background between the Sharpe ratio levels of 0 and 1, highlighting the critical region where risk-adjusted returns are assessed.
Originality and Usefulness
This script uniquely combines the analysis of Sharpe ratios for a reference ticker and the current ticker, providing a comparative view of their risk-adjusted returns. The inclusion of a customizable rolling window and smoothing option enhances its adaptability and usefulness in various market conditions.
Signal Description
The script includes several features that highlight potential insights into the risk-adjusted returns of the assets:
Reference Ticker Sharpe Ratio : Plotted as a red line, this represents the smoothed Sharpe ratio for the user-selected reference ticker.
Current Ticker Sharpe Ratio : Plotted as a white line, this represents the smoothed Sharpe ratio for the current ticker.
Horizontal Lines and Background Color : Lines at 0 and 1, along with a shaded background between these levels, help to quickly identify the regions of positive and strong risk-adjusted returns.
These features assist in identifying relative performance differences and confirming the strength or weakness of risk-adjusted returns between the two tickers.
Detailed Description
Input Variables
Length for Rolling Window (`length`) : Defines the range for calculating the rolling Sharpe ratio. Default is 252.
Smoothing Length (`smoothing_length`) : The number of periods for the smoothing SMA. Default is 4.
Annual Risk-Free Rate (`riskFreeRate`) : The annual risk-free rate used in the Sharpe ratio calculation. Default is 0.02 (2%).
Reference Ticker (`ref_ticker`) : The ticker symbol for the reference asset. Default is "BINANCE:BTCUSDT".
Functionality
Sharpe Ratio Calculation : The script calculates the daily returns, mean return, and standard deviation for both the reference ticker and the current ticker. These values are used to compute the annualized Sharpe ratio.
```pine
ref_dailyReturn = ta.change(ref_close) / ref_close
ref_meanReturn = ta.sma(ref_dailyReturn, length)
ref_stdDevReturn = ta.stdev(ref_dailyReturn, length)
ref_annualizedReturn = ref_meanReturn * length
ref_annualizedStdDev = ref_stdDevReturn * math.sqrt(length)
ref_sharpeRatio = (ref_annualizedReturn - riskFreeRate) / ref_annualizedStdDev
```
Smoothing : A simple moving average is applied to the Sharpe ratios to smooth the data.
```pine
smoothed_ref_sharpeRatio = ta.sma(ref_sharpeRatio, smoothing_length)
smoothed_current_sharpeRatio = ta.sma(current_sharpeRatio, smoothing_length)
```
Plotting : The script plots the smoothed Sharpe ratios for both the reference ticker and the current ticker, along with horizontal lines and a shaded background.
```pine
plot(smoothed_ref_sharpeRatio, title="Ref Ticker Sharpe Ratio", color=color.rgb(255, 82, 82, 50), linewidth=2)
plot(smoothed_current_sharpeRatio, title="Current Ticker Sharpe Ratio", color=color.white, linewidth=2)
h0 = hline(0, "Zero Line", color=color.gray)
h1 = hline(1, "One Line", color=color.gray)
fill(h0, h1, color=color.rgb(33, 150, 243, 90), title="Background")
```
How to Use
Configuring Inputs : Adjust the detection length, smoothing length, and risk-free rate as needed. Set the reference ticker to the desired asset for comparison.
Interpreting the Indicator : Use the plotted Sharpe ratios and background shading to assess the relative risk-adjusted returns of the reference and current tickers.
Signal Confirmation : Look for differences in the Sharpe ratios to identify potential performance advantages or weaknesses. The background shading helps to highlight key levels of risk-adjusted returns.
This script provides a detailed comparative view of risk-adjusted returns, aiding in more informed decision-making by highlighting key differences between the reference ticker and the current ticker.
Stoch Double Analysis MTFThis indicator utilizes the Stochastic Oscillator on two different timeframes and generates alerts for potential long and short conditions based on the crossovers of the %K and %D lines of the Stochastic Oscillator. Here's a detailed breakdown of the code:
Inputs
Overbought and Oversold Levels:
ob_stc: Overbought level (default 80).
os_stc: Oversold level (default 20).
Timeframe 1 Configuration:
tf_stoch_1: The first timeframe for analysis.
length: Stochastic length (default 8).
smoothK: Smoothing for %K line (default 5).
smoothD: Smoothing for %D line (default 3).
Timeframe 2 Configuration:
tf_stoch_2: The second timeframe for analysis.
length_another: Stochastic length for the second timeframe (default 12).
smoothK_another: Smoothing for %K line for the second timeframe (default 7).
smoothD_another: Smoothing for %D line for the second timeframe (default 3).
Calculations
Volume Trend Calculation:
For both timeframes, the script calculates the volume trend. It determines up days and down days based on whether the closing price is higher or lower than the opening price and accumulates the volume accordingly.
Cumulative Volume:
Calculates the cumulative volume for up days and down days using the average of the high prices and the respective volumes.
Stochastic Oscillator Calculation:
Computes the %K and %D lines of the Stochastic Oscillator for both timeframes using the given lengths and smoothing factors.
Alerts
The script generates alerts for potential long and short conditions based on the crossovers of the %K and %D lines for both timeframes:
Long Condition: When %K crosses above %D.
Short Condition: When %D crosses above %K.
Plotting
Stochastic Lines:
Plots the %K and %D lines for both timeframes with different colors (orange and blue for the first timeframe, green and red for the second timeframe).
Overbought/Oversold Bands:
Adds horizontal lines at the overbought and oversold levels and a middle band at 50.
Fills the background between the overbought and oversold levels with a semi-transparent color.
Code Structure
Inputs Definition:
Defines all input variables for customization.
Volume Trend and Cumulative Volume Calculation:
Computes volume trends and cumulative volumes for both timeframes.
Stochastic Oscillator Calculation:
Calculates the %K and %D lines using the request.security function to get data from the specified timeframes and apply the smoothing functions.
Alert Conditions:
Checks for crossovers between the %K and %D lines to generate alerts for potential trading signals.
Plotting:
Plots the %K and %D lines for both timeframes and adds visual elements for overbought and oversold levels.
This indicator helps traders analyze market trends using the Stochastic Oscillator on multiple timeframes, providing potential buy and sell signals based on the interaction of the %K and %D lines.
The alerts generated by the "Stoch Double Analysis MTF" indicator can be viewed as part of a broader educational and training path for traders!
Support and Resistance Polynomial Regressions | Flux ChartsOverview
This script is a dynamic form of support and resistance. Support and resistance plots areas where price commonly reverses its direction or “pivots”. A resistance line for instance is typically found by locating a price point where multiple high pivots occur. A high pivot is where a price increases for a number of bars then decreases for a number of bars creating a local maximum. This script takes the high pivots points but rather than using a horizontal line a polynomial regressed line is used.
It is common to see consecutive higher highs or lower lows or a mixed pattern of both so a classical support or resistance line can be insufficient. This script lets users find a polynomial of best fit for high pivots and low pivots creating a resistance and support line respectively.
Here are the same two sets of high and low pivots the first using linear regressed support and resistance lines the second using quadratic.
Here are the predicted results:
The Quadratic regression gives a much more accurate prediction of future pivot areas and the increase in variance of the data.
Quick Start
Add the script to the chart. Then select a left point and right point on the chart. This will be the data the script uses to calculate a best fit resistance line. Then select another left and right point that will be for the support line.
Now you can confirm your basic settings like the type of regression: Linear Regression, Quadratic Regression, Cubic Regression or Custom Regression.
After confirming the lines will be plotted on the graph.
Custom Polynomial Regression Setting
Polynomials follow the form:
The degree of a polynomial is the highest exponent in the equation. For example the polynomial ax^2 + bx + c has a degree of 2.
Here are the default polynomial options and their equivalent custom polynomial entry:
This allows us to create regressions with a custom number of inflection points. An inflection point is a point where the graph changes from concave up to concave down or vice versa. The maximum number of inflection points a polynomial can have is the degree - 2. Having multiple inflection points in our regression allows for having a closer fit minimizing error.
It should be noted that having a closer fit is not inherently better; this can cause overfitting. Overfitting is when a model is too closely fit to the training data and not generalizable to the population data.
TTP Pair Slope/HedgePair slope/hedge uses linear regression to calculate the hedge ratio (slope) between the two assets within a period.
It allows you to specify a "from" and a "to" candle.
Example:
"A regression from 1000 candles back in time and ignore the last 100 candles. This would result in making a regression of 900 candles in total."
The formula used to perform the regression with the assts X and Y is:
Hedge =
mean( (X-mean(X))^2 )
——————————————————
mean( (X-mean(X)) * (Y-mean(Y)) )
You can later use the hedge in a chart of X - Hedge * Y
(Confirm with 1 / hedge )
If the plot is stationary the period tested should look like stationary.
If you cross an imaginary horizontal line across all the values in the period used it should look like a flat channel with values crossing above and below the line.
The purpose of this indicator is to help finding the linear regression test used for conintegration analysis. Conintegration assets is one of the requirements to consider assets for pair and hedge trading.
Interval Vertical Line DrawerIntroduction
The Interval Vertical Line Drawer is an indicator that assists traders in visualizing specific intervals on the chart. This script enables traders to conduct more accurate analyses across various time frames.
How It Works
This script operates by drawing vertical lines at intervals defined by the user. Users can select the interval for the vertical lines in minutes, and the script automatically places vertical lines at each interval on the chart. For instance, if a 15-minute interval is selected, vertical lines will appear at the start and end times of every 15-minute candle on the chart.
Additionally, this script includes a feature that allows drawing horizontal lines representing the open price of the candles at each vertical line. This is crucial for traders observing price action around specific times and evaluating market conditions at regular intervals.
This script is operative across diverse time frames and can be adjusted to fit various trading styles and analyses. It is efficient, user-friendly, and adaptable to the diverse needs of traders.
The open price of a candle often serves as a support or resistance, and there is a high possibility of significant movement occurring when these S/R levels are breached.
How to Use
VLInterval: Users can input the interval for the vertical lines in minutes and select from 5, 15, 30, 60, 120, 240, 1440.
visibleTimeframe: Users can select the desired time frame where the vertical lines will be visible.
Color and Style: Users can freely modify the color and style of the lines.
Apply the indicator to the chart.
Select the desired interval for the vertical lines.
Adjust the visibility and style of the lines as needed.
By adhering to these steps, traders can effectively incorporate this tool into their analysis, maximizing the utility of interval-based evaluations and observations.
소개
간격 수직 선 그리기 도구는 트레이더가 차트에서 특정 간격을 시각화할 수 있도록 도와주는 지표입니다. 이 스크립트는 트레이더들이 다양한 시간 프레임에서 더 정확한 분석을 수행할 수 있게 해줍니다.
작동 원리
이 스크립트는 사용자가 정의한 간격에서 수직선을 그리는 방식으로 작동합니다. 사용자는 분 단위로 수직선 간격을 선택할 수 있고, 스크립트는 자동으로 차트의 각 간격에 수직선을 배치합니다. 예를 들어, 15분 간격이 선택되면, 차트에는 15분봉의 시작, 종료 시간마다 수직선이 나타납니다.
더불어, 이 스크립트는 각 수직선에서의 캔들의 시가를 나타내는 수평선을 그릴 수 있는 기능도 포함하고 있습니다. 이는 트레이더가 특정 시간 주변의 가격 행동을 관찰하고 정기적인 간격으로 시장 상황을 평가하는데 중요합니다.
이 스크립트는 다양한 시간 프레임에서 작동하며, 다양한 거래 스타일과 분석에 맞게 조정할 수 있습니다. 이는 효율적이고 사용자 친화적이며, 트레이더의 다양한 필요에 적응할 수 있습니다.
캔들의 시작가는 종종 지지 또는 저항의 역할을 하며, S/R이 깨질 때 큰 움직임이 일어날 가능성이 높습니다.
사용 방법
VLInterval: 사용자는 분 단위로 수직선 간격을 입력할 수 있으며, 5, 15, 30, 60, 120, 240, 1440 중에서 선택할 수 있습니다.
visibleTimeframe: 사용자는 수직선이 보이게 될 원하는 시간 프레임을 선택할 수 있습니다.
색상과 스타일: 사용자는 선의 색상과 스타일을 자유롭게 수정할 수 있습니다.
지표를 차트에 적용합니다.
수직선의 원하는 간격을 선택합니다.
선의 가시성과 스타일을 필요에 맞게 조정합니다.
Musashi_Fractal_Dimension === Musashi-Fractal-Dimension ===
This tool is part of my research on the fractal nature of the markets and understanding the relation between fractal dimension and chaos theory.
To take full advantage of this indicator, you need to incorporate some principles and concepts:
- Traditional Technical Analysis is linear and Euclidean, which makes very difficult its modeling.
- Linear techniques cannot quantify non-linear behavior
- Is it possible to measure accurately a wave or the surface of a mountain with a simple ruler?
- Fractals quantify what Euclidean Geometry can’t, they measure chaos, as they identify order in apparent randomness.
- Remember: Chaos is order disguised as randomness.
- Chaos is the study of unstable aperiodic behavior in deterministic non-linear dynamic systems
- Order and randomness can coexist, allowing predictability.
- There is a reason why Fractal Dimension was invented, we had no way of measuring fractal-based structures.
- Benoit Mandelbrot used to explain it by asking: How do we measure the coast of Great Britain?
- An easy way of getting the need of a dimension in between is looking at the Koch snowflake.
- Market prices tend to seek natural levels of ranges of balance. These levels can be described as attractors and are determinant.
Fractal Dimension Index ('FDI')
Determines the persistence or anti-persistence of a market.
- A persistent market follows a market trend. An anti-persistent market results in substantial volatility around the trend (with a low r2), and is more vulnerable to price reversals
- An easy way to see this is to think that fractal dimension measures what is in between mainstream dimensions. These are:
- One dimension: a line
- Two dimensions: a square
- Three dimensions: a cube.
--> This will hint you that at certain moment, if the market has a Fractal Dimension of 1.25 (which is low), the market is behaving more “line-like”, while if the market has a high Fractal Dimension, it could be interpreted as “square-like”.
- 'FDI' is trend agnostic, which means that doesn't consider trend. This makes it super useful as gives you clean information about the market without trying to include trend stuff.
Question: If we have a game where you must choose between two options.
1. a horizontal line
2. a vertical line.
Each iteration a Horizontal Line or a Square will appear as continuation of a figure. If it that iteration shows a square and you bet vertical you win, same as if it is horizontal and it is a line.
- Wouldn’t be useful to know that Fractal dimension is 1.8? This will hint square. In the markets you can use 'FD' to filter mean-reversal signals like Bollinger bands, stochastics, Regular RSI divergences, etc.
- Wouldn’t be useful to know that Fractal dimension is 1.2? This will hint Line. In the markets you can use 'FD' to confirm trend following strategies like Moving averages, MACD, Hidden RSI divergences.
Calculation method:
Fractal dimension is obtained from the ‘hurst exponent’.
'FDI' = 2 - 'Hurst Exponent'
Musashi version of the Classic 'OG' Fractal Dimension Index ('FDI')
- By default, you get 3 fast 'FDI's (11,12,13) + 1 Slow 'FDI' (21), their interaction gives useful information.
- Fast 'FDI' cross will give you gray or red dots while Slow 'FDI' cross with the slowest of the fast 'FDI's will give white and orange dots. This are great to early spot trend beginnings or trend ends.
- A baseline (purple) is also provided, this is calculated using a 21 period Bollinger bands with 1.618 'SD', once calculated, you just take midpoint, this is the 'TDI's (Traders Dynamic Index) way. The indicator will print purple dots when Slow 'FDI' and baseline crosses, I see them as Short-Term cycle changes.
- Negative slope 'FDI' means trending asset.
- Positive most of the times hints correction, but if it got overextended it might hint a rocket-shot.
TDI Ranges:
- 'FDI' between 1.0≤ 'FDI' ≤1.4 will confirm trend following continuation signals.
- 'FDI' between 1.6≥ 'FDI' ≥2.0 will confirm reversal signals.
- 'FDI' == 1.5 hints a random unpredictable market.
Fractal Attractors
- As you must know, fractals tend orbit certain spots, this are named Attractors, this happens with any fractal behavior. The market of course also shows them, in form of Support & Resistance, Supply Demand, etc. It’s obvious they are there, but now we understand that they’re not linear, as the market is fractal, so simple trendline might not be the best tool to model this.
- I’ve noticed that when the Musashi version of the 'FDI' indicator start making a cluster of multicolor dots, this end up being an attractor, I tend to draw a rectangle as that area as price tend to come back (I still researching here).
Extra useful stuff
- Momentum / speed: Included by checking RSI Study in the indicator properties. This will add two RSI’s (9 and a 7 periods) plus a baseline calculated same way as explained for 'FDI'. This gives accurate short-term trends. It also includes RSI divergences (regular and hidden), deactivate with a simple check in the RSI section of the properties.
- BBWP (Bollinger Bands with Percentile): Efficient way of visualizing volatility as the percentile of Bollinger bands expansion. This line varies color from Iced blue when low volatility and magma red when high. By default, comes with the High vols deactivated for better view of 'FDI' and RSI while all studies are included. DDWP is trend agnostic, just like 'FDI', which make it very clean at providing information.
- Ultra Slow 'FDI': I noticed that while using BBWP and RSI, the indicator gets overcrowded, so there is the possibility of adding only one 'FDI' + its baseline.
Final Note: I’ve shown you few ways of using this indicator, please backtest before using in real trading. As you know trading is more about risk and trade management than the strategy used. This still a work in progress, I really hope you find value out of it. I use it combination with a tool named “Musashi_Katana” (also found in TradingView).
Best!
Musashi
PrasiGanFanFibntroduction
This is a combination of Fibonacci and Gann fan /retracements.
The script can automatically draw as many:
Fibonacci Retracements
Fibonacci Fan
Gann Retracements
Gann Fan
as the user requires on the chart. Each level set or fan consists of 7 lines based on the most important ratios of Fibonacci/ Gann .
Basics
What are Fibonacci retracements?
Fibonacci retracement levels are horizontal lines that indicate where support and resistance are likely to occur. They stem from Fibonacci’s sequence. Each level is associated with a percentage which is how much of a prior move the price has retraced. The Fibonacci retracement levels are 23.6%, 38.2%, 61.8%, and 78.6%. While not officially a Fibonacci ratio, 50% is also used. The indicator is useful because it can be drawn between any two significant price points, such as a high and a low. The indicator will then create the levels between those two points.
What are Gann retracements?
A developer of technical analysis and trading was W.D. Gann . Gann theory expects a normal retracement of 50 percent. This means that under normal selling pressure, the stock price will decline half the amount of its most recent rise, and vice versa. It also suggests that retracements occur at the halfway point of a move, such as 25 percent (half of 50 percent), 12.5 percent (half of 25 percent), and so on.
What is Fibonacci fan?
Fibonacci fan is a set of sequential trend lines drawn from a trough or peak through a set of points dictated by Fibonacci retracements. The first step to create it is to draw a trend line covering the local lowest and highest prices of a security. To reach retracement levels, the trader divides the difference in price at the low and high end by ratios determined by the Fibonacci series. The lines formed by connecting the starting point for the base trend line and each retracement level create the Fibonacci fan.
What is Gann fan?
A Gann fan consists of a series of lines called Gann angles. These angles are superimposed over a price chart to show potential support and resistance levels. The resulting image is supposed to help technical analysts predict price changes. Gann believed the 45-degree angle to be most important, but the Gann fan also draws angles at degrees like 75, 63.75, 26.25 and 15. The Gann fan originates at a low or high point. The resulting lines show areas of potential future support and resistance . The 45-degree line is known as the 1:1 line because the price will rise or fall at a 45-degree angle when the price moves up/down one unit for each unit of time. All other lines in the Gann fan are drawn above and below the 1:1 line. The other angles are associated with 2:1, 3:1, 4:1, 8:1 and 1:8, 1:4, 1:3, and 1:2 time-to-price moves.
Challenges
The most of the time I dedicated to writing this script has been spent on handling these problems:
1. Finding Local Highest/Lowest Prices
In order to draw Fibonacci and Gann fan /retracements, it's necessary to find local highest and lowest price points (Extrema) on the chart. As this could be so challenging, most traders and coders draw the lines covering the low and high prices over a given period of time or a limited number of bars back instead. I already wrote an indicator using this approach (Auto Fibonacci Combo).
In this new script I tried to find the exact highest and lowest prices based on this idea that: if a high point is formed lower than previous high which was after a lowest point, then that previous one was the local highest point, and vice versa if a low point is formed higher than previous low which was after a highest point, then that previous one was the local lowest point. So logically an extremum price on the chart won't be found until the next high/low point is formed.
2. Finding Proper Chart Scale for Gann Fan
Based on the theory, Gann angles are sensitive to the chart price scale and in order to have the right angles, the chart must be made with the proper scale. J.A. Hyerczyk in his book "Pattern, Price & Time - Using Gann Theory in Technical Analysis" suggests that the easiest way to determine the scale of a market is by taking the difference between top-to-top and bottom-to-bottom and dividing it by the time it took the market to move from top to top and bottom to bottom.
Thus on a properly constructed chart, the basic equation for calculating Gann angles is: Price * Time.
3. Drawing Fans and Relocating Fan Labels at Each New Bar in Pine (A Programming-Related Subject)
To do this, I used linear equations and line slopes. Of course it was so complicated and exhausting, but finally I overcame that thanks to my genius cousin.
Settings and Usage
By default, the script shows detected extremum points plus 1 Fibonacci fan, 1 Gann fan , 1 set of Fibonacci retracements and no Gann retracements on the chart. All of these could be changed in the indicator settings beside the color and transparency of each line.
Feel free to use this and send me your thoughts!
Auto Fibonacci and Gann Fan/Retracements ComboIntroduction
This is a combination of Fibonacci and Gann fan/retracements.
The script can automatically draw as many:
Fibonacci Retracements
Fibonacci Fan
Gann Retracements
Gann Fan
as the user requires on the chart. Each level set or fan consists of 7 lines based on the most important ratios of Fibonacci/Gann.
Basics
What are Fibonacci retracements?
Fibonacci retracement levels are horizontal lines that indicate where support and resistance are likely to occur. They stem from Fibonacci’s sequence. Each level is associated with a percentage which is how much of a prior move the price has retraced. The Fibonacci retracement levels are 23.6%, 38.2%, 61.8%, and 78.6%. While not officially a Fibonacci ratio, 50% is also used. The indicator is useful because it can be drawn between any two significant price points, such as a high and a low. The indicator will then create the levels between those two points.
What are Gann retracements?
A developer of technical analysis and trading was W.D. Gann. Gann theory expects a normal retracement of 50 percent. This means that under normal selling pressure, the stock price will decline half the amount of its most recent rise, and vice versa. It also suggests that retracements occur at the halfway point of a move, such as 25 percent (half of 50 percent), 12.5 percent (half of 25 percent), and so on.
What is Fibonacci fan?
Fibonacci fan is a set of sequential trend lines drawn from a trough or peak through a set of points dictated by Fibonacci retracements. The first step to create it is to draw a trend line covering the local lowest and highest prices of a security. To reach retracement levels, the trader divides the difference in price at the low and high end by ratios determined by the Fibonacci series. The lines formed by connecting the starting point for the base trend line and each retracement level create the Fibonacci fan.
What is Gann fan?
A Gann fan consists of a series of lines called Gann angles. These angles are superimposed over a price chart to show potential support and resistance levels. The resulting image is supposed to help technical analysts predict price changes. Gann believed the 45-degree angle to be most important, but the Gann fan also draws angles at degrees like 75, 63.75, 26.25 and 15. The Gann fan originates at a low or high point. The resulting lines show areas of potential future support and resistance. The 45-degree line is known as the 1:1 line because the price will rise or fall at a 45-degree angle when the price moves up/down one unit for each unit of time. All other lines in the Gann fan are drawn above and below the 1:1 line. The other angles are associated with 2:1, 3:1, 4:1, 8:1 and 1:8, 1:4, 1:3, and 1:2 time-to-price moves.
Challenges
The most of the time I dedicated to writing this script has been spent on handling these problems:
1. Finding Local Highest/Lowest Prices
In order to draw Fibonacci and Gann fan/retracements, it's necessary to find local highest and lowest price points (Extrema) on the chart. As this could be so challenging, most traders and coders draw the lines covering the low and high prices over a given period of time or a limited number of bars back instead. I already wrote an indicator using this approach ( Auto Fibonacci Combo ).
In this new script I tried to find the exact highest and lowest prices based on this idea that: if a high point is formed lower than previous high which was after a lowest point, then that previous one was the local highest point, and vice versa if a low point is formed higher than previous low which was after a highest point, then that previous one was the local lowest point. So logically an extremum price on the chart won't be found until the next high/low point is formed.
2. Finding Proper Chart Scale for Gann Fan
Based on the theory, Gann angles are sensitive to the chart price scale and in order to have the right angles, the chart must be made with the proper scale. J.A. Hyerczyk in his book "Pattern, Price & Time - Using Gann Theory in Technical Analysis" suggests that the easiest way to determine the scale of a market is by taking the difference between top-to-top and bottom-to-bottom and dividing it by the time it took the market to move from top to top and bottom to bottom.
Thus on a properly constructed chart, the basic equation for calculating Gann angles is: Price * Time.
3. Drawing Fans and Relocating Fan Labels at Each New Bar in Pine (A Programming-Related Subject)
To do this, I used linear equations and line slopes. Of course it was so complicated and exhausting, but finally I overcame that thanks to my genius cousin.
Settings and Usage
By default, the script shows detected extremum points plus 1 Fibonacci fan, 1 Gann fan, 1 set of Fibonacci retracements and no Gann retracements on the chart. All of these could be changed in the indicator settings beside the color and transparency of each line.
Feel free to use this and send me your thoughts!
RSI Fibonacci Flow [JOAT]RSI Fibonacci Flow - Advanced Fibonacci Retracement with RSI Confluence
Introduction
RSI Fibonacci Flow is an open-source overlay indicator that combines automatic Fibonacci retracement levels with RSI momentum analysis to identify high-probability trading zones. The indicator automatically detects swing highs and lows, draws Fibonacci levels, and generates confluence signals when RSI conditions align with key Fibonacci zones.
This indicator is designed for traders who use Fibonacci retracements but want additional confirmation from momentum analysis before entering trades.
Originality and Purpose
This indicator is NOT a simple mashup of RSI and Fibonacci tools. It is an original implementation that creates a synergistic relationship between two complementary analysis methods:
Why Combine RSI with Fibonacci? Fibonacci retracements identify WHERE price might reverse, but they don't tell you WHEN. RSI provides the timing component by showing momentum exhaustion. When price reaches the Golden Zone (50%-61.8%) AND RSI shows oversold conditions, the probability of a successful bounce increases significantly.
Original Confluence Scoring System: The indicator calculates a 0-5 confluence score that weights multiple factors: Golden Zone presence (+2), entry zone presence (+1), RSI extreme alignment (+1), RSI divergence (+1), and strong RSI momentum (+1). This scoring system is original to this indicator.
Automatic Pivot Detection: Unlike manual Fibonacci tools, this indicator automatically detects swing highs and lows using a configurable pivot algorithm, then draws Fibonacci levels accordingly. The pivot detection uses a center-bar comparison method that checks if a bar's high/low is the highest/lowest within the specified depth on both sides.
Dynamic Trend Awareness: The indicator determines trend direction based on pivot sequence (last pivot was high or low) and adjusts Fibonacci orientation accordingly. In uptrends, 0% is at swing low; in downtrends, 0% is at swing high.
Each component serves a specific purpose:
Fibonacci levels identify potential reversal zones based on natural price ratios
RSI provides momentum context to filter out low-probability setups
Confluence scoring quantifies setup quality for position sizing decisions
Automatic pivot detection removes subjectivity from level placement
Core Concept: RSI-Fibonacci Confluence
The most powerful trading setups occur when multiple factors align. RSI Fibonacci Flow identifies these moments by:
Automatically detecting price pivots and drawing Fibonacci levels
Tracking which Fibonacci zone the current price occupies
Monitoring RSI for overbought/oversold conditions
Generating signals when RSI extremes coincide with key Fibonacci levels
Scoring confluence strength on a 0-5 scale
When price reaches the Golden Zone (50%-61.8%) while RSI shows oversold conditions in an uptrend, the probability of a bounce increases significantly.
Fibonacci Levels Explained
The indicator draws nine Fibonacci levels based on the most recent swing:
0% (Swing Low/High): The starting point of the move
23.6%: Shallow retracement - often seen in strong trends
38.2%: First significant support/resistance level
50%: Psychological midpoint of the move
61.8% (Golden Ratio): The most important Fibonacci level
78.6%: Deep retracement - last defense before trend failure
100% (Swing High/Low): The end point of the move
127.2% (TP1): First extension target for take profit
161.8% (TP2): Second extension target for take profit
The Golden Zone
The area between 50% and 61.8% is highlighted as the "Golden Zone" because:
It represents the optimal retracement depth for trend continuation
Institutional traders often place orders in this zone
It offers favorable risk-to-reward ratios
Price frequently bounces from this area in healthy trends
When price enters the Golden Zone, the indicator highlights it with a semi-transparent box and optional background coloring.
Pivot Detection System
The indicator uses a configurable pivot detection algorithm:
pivotDetect(float src, int len, bool isHigh) =>
int halfLen = len / 2
float centerVal = nz(src , src)
bool isPivot = true
for i = 0 to len - 1
if isHigh
if nz(src , src) > centerVal
isPivot := false
break
else
if nz(src , src) < centerVal
isPivot := false
break
isPivot ? centerVal : float(na)
This identifies swing highs and lows by checking if a bar's high/low is the highest/lowest within the specified depth on both sides.
Visual Components
1. Fibonacci Lines
Horizontal lines at each Fibonacci level:
Solid lines for major levels (0%, 50%, 61.8%, 100%)
Dashed lines for secondary levels (23.6%, 38.2%, 78.6%)
Dotted lines for extension levels (127.2%, 161.8%)
Color-coded for easy identification
Configurable line width
2. Fibonacci Labels
Price labels at each level showing:
Fibonacci percentage
Actual price at that level
Golden Zone label highlighted
TP1 and TP2 labels for targets
3. Golden Zone Box
A semi-transparent box highlighting the 50%-61.8% zone:
Gold colored border and fill
Extends from swing start to current bar (or beyond if extended)
Provides clear visual of the optimal entry zone
4. ZigZag Lines
Connecting lines between detected pivots:
Cyan for moves from low to high
Orange for moves from high to low
Helps visualize market structure
Configurable line width
5. Pivot Markers
Small labels at detected swing points:
"HH" (Higher High) at swing highs
"LL" (Lower Low) at swing lows
Helps track market structure
6. Entry Signals
BUY and SELL labels when confluence conditions are met:
BUY: RSI oversold + price in entry zone + uptrend + positive momentum
SELL: RSI overbought + price in entry zone + downtrend + negative momentum
Labels include "RSI+FIB" to indicate confluence
Confluence Scoring System
The indicator calculates a confluence score from 0 to 5:
+2 points: Price is in the Golden Zone (50%-61.8%)
+1 point: Price is in the entry zone (38.2%-61.8%)
+1 point: RSI is oversold in uptrend OR overbought in downtrend
+1 point: RSI divergence detected (bullish or bearish)
+1 point: Strong RSI momentum (change > 2 points)
Confluence ratings:
STRONG (4-5): Multiple factors align - high probability setup
MODERATE (2-3): Some factors align - proceed with caution
WEAK (0-1): Few factors align - wait for better setup
Dashboard Panel
The 10-row dashboard provides comprehensive analysis:
RSI Value: Current RSI reading (large text)
RSI State: OVERBOUGHT, OVERSOLD, BULLISH, BEARISH, or NEUTRAL
Fib Trend: UPTREND or DOWNTREND based on last pivot sequence
Price Zone: Current Fibonacci zone (e.g., "GOLDEN ZONE", "38.2% - 50%")
Price: Current close price (large text)
Confluence: Score rating with numeric value (e.g., "STRONG (4/5)")
Nearest Fib: Closest key Fibonacci level with price
TP1 (127.2%): First take profit target price
TP2 (161.8%): Second take profit target price
Input Parameters
Pivot Detection:
Pivot Depth: Bars to look back for swing detection (default: 10)
Min Deviation %: Minimum price move to confirm pivot (default: 1.0)
RSI Settings:
RSI Length: Period for RSI calculation (default: 14)
Source: Price source (default: close)
Overbought: Upper threshold (default: 70)
Oversold: Lower threshold (default: 30)
Fibonacci Display:
Show Fib Lines: Toggle Fibonacci lines (default: enabled)
Show Fib Labels: Toggle price labels (default: enabled)
Show Golden Zone Box: Toggle zone highlight (default: enabled)
Line Width: Thickness of Fibonacci lines (default: 2)
Extend Fib Lines: Extend lines into future (default: enabled)
ZigZag:
Show ZigZag: Toggle connecting lines (default: enabled)
ZigZag Width: Line thickness (default: 2)
Signals:
Show Entry Signals: Toggle BUY/SELL labels (default: enabled)
Show TP Levels: Toggle take profit in dashboard (default: enabled)
Show RSI-Fib Confluence: Toggle confluence analysis (default: enabled)
Dashboard:
Show Dashboard: Toggle information panel (default: enabled)
Position: Choose corner placement
Colors:
Bullish: Color for bullish elements (default: cyan)
Bearish: Color for bearish elements (default: orange)
Neutral: Color for neutral elements (default: gray)
Golden Zone: Color for Golden Zone highlight (default: gold)
How to Use RSI Fibonacci Flow
Identifying Entry Zones:
Wait for price to retrace to the 38.2%-61.8% zone
Check if RSI is approaching oversold (for longs) or overbought (for shorts)
Look for STRONG confluence rating in the dashboard
Enter when BUY or SELL signal appears
Setting Take Profit Targets:
TP1 at 127.2% extension for conservative target
TP2 at 161.8% extension for aggressive target
Consider scaling out at each level
Using the Price Zone:
"BELOW 23.6%" - Price hasn't retraced much; wait for deeper pullback
"23.6% - 38.2%" - Shallow retracement; strong trend continuation possible
"38.2% - 50%" - Good entry zone for trend trades
"GOLDEN ZONE" - Optimal entry zone; highest probability
"61.8% - 78.6%" - Deep retracement; trend may be weakening
"78.6% - 100%" - Very deep; trend reversal possible
"ABOVE/BELOW 100%" - Trend has likely reversed
Confluence Trading Strategy:
Only take trades with confluence score of 3 or higher
STRONG confluence (4-5) warrants larger position size
MODERATE confluence (2-3) warrants smaller position size
WEAK confluence (0-1) - wait for better setup
Alert Conditions
Ten alert conditions are available:
RSI-Fib BUY Signal: Strong bullish confluence detected
RSI-Fib SELL Signal: Strong bearish confluence detected
Price in Golden Zone: Price enters 50%-61.8% zone
New Pivot High: Swing high detected
New Pivot Low: Swing low detected
RSI Overbought: RSI crosses above overbought threshold
RSI Oversold: RSI crosses below oversold threshold
Bullish Divergence: Potential bullish RSI divergence
Bearish Divergence: Potential bearish RSI divergence
Strong Confluence: Confluence score reaches 4 or higher
Understanding Trend Direction
The indicator determines trend based on pivot sequence:
UPTREND: Last pivot was a low after a high (expecting move up)
DOWNTREND: Last pivot was a high after a low (expecting move down)
Fibonacci levels are drawn accordingly:
In uptrend: 0% at swing low, 100% at swing high
In downtrend: 0% at swing high, 100% at swing low
Bar Coloring
When confluence features are enabled:
Cyan bars on strong bullish signals
Orange bars on strong bearish signals
Gold-tinted bars when price is in Golden Zone
Best Practices
Use on 1H timeframe or higher for more reliable pivots
Adjust Pivot Depth based on timeframe (higher for longer timeframes)
Wait for price to enter Golden Zone before considering entries
Confirm RSI is in favorable territory before trading
Use extension levels (127.2%, 161.8%) for realistic profit targets
Combine with support/resistance and candlestick patterns
Higher confluence scores indicate higher probability setups
Limitations
Pivot detection has inherent lag (must wait for confirmation)
Fibonacci levels are subjective - different swings produce different levels
Works best in trending markets with clear swings
RSI can remain overbought/oversold in strong trends
Not all Golden Zone entries will be successful
The source code is open and available for review and modification.
Disclaimer
This indicator is provided for educational and informational purposes only. It is not financial advice. Trading involves substantial risk of loss. Past performance does not guarantee future results. Fibonacci levels are not guaranteed support/resistance - they are probability zones based on historical price behavior. Always conduct your own analysis and use proper risk management.
- Made with passion by officialjackofalltrades :D
Fibonacci 5 Candles Retracement
================================================================================
FIBONACCI 5 CANDLES RETRACEMENT - STRATEGY GUIDE
================================================================================
WHAT DOES THIS STRATEGY DO?
---------------------------
This strategy automatically identifies market trends and uses Fibonacci
retracements to find the best entry points. The idea is simple: when price
makes a strong movement (trend), it often pulls back before continuing in
the same direction. The strategy captures these "pullbacks" to enter at the
right moment.
HOW IT WORKS?
-------------
1. TREND DETECTION
The strategy looks for 5 consecutive candles of the same color:
- 5 red candles = BEARISH trend (price falls)
- 5 green candles = BULLISH trend (price rises)
2. CALCULATION OF START AND END POINTS
For a BEARISH trend (5 red candles):
- START: The highest point between the first red candle and the previous one
- END: The lowest point reached during the 5 candles (and beyond, if the
trend continues)
For a BULLISH trend (5 green candles):
- START: The lowest point between the first green candle and the previous one
- END: The highest point reached during the 5 candles (and beyond, if the
trend continues)
3. DYNAMIC UPDATE
The END point updates automatically if price continues to move in the
direction of the trend, creating new highs (for bullish trends) or new
lows (for bearish trends).
4. TREND END
Normal Mode:
- BEARISH trend ends when a candle closes above the previous candle's open
- BULLISH trend ends when a candle closes below the previous candle's open
"Extended Trend" mode (optional):
- The trend remains active until a candle closes beyond the dynamic 50%
retracement level
- When this happens, the END point "freezes" (stops updating), but the
trend can continue
5. FIBONACCI RETRACEMENT CALCULATION
Once START and END are identified, the strategy automatically calculates
Fibonacci levels. IMPORTANT: for retracements and pending orders, we
consider START as 100% and END as 0%, because we work on the part of the
trend that is recovered (the pullback).
The retracement levels are:
- 70% = level closest to START (smallest retracement)
- 60% = second level
- 50% = central level (often used for entry)
- 25% = level closest to END (largest retracement)
6. PENDING ORDER PLACEMENT
When a trend is identified and completed, the strategy automatically places
a pending order (limit order) at one of the selectable Fibonacci levels.
Available levels:
- 25%: closest to END
- 50%: central level (balanced)
- 60%: closest to START
- 70%: very close to START
The order direction depends on the trend:
- BEARISH trend → SHORT order (bet that price falls)
- BULLISH trend → LONG order (bet that price rises)
Stop Loss and Take Profit (for retracements):
- Stop Loss: always at START level
- Take Profit: always at END level
EXTENDED TAKE PROFIT:
If the order is executed (filled), the strategy can apply an "Extended
Take Profit" if configured. IMPORTANT: for the extended TP calculation,
we consider START as 0% and END as 100% (the original trend movement).
For example, if you set 3%, the Take Profit will be at 103% of the
original trend movement instead of 100%.
AVAILABLE FILTERS
-----------------
1. MINIMUM TREND (pips)
Filters trends that are too small. If a trend is below the set value:
- START and END labels become gray (instead of red/green)
- No pending order is placed
- The trend is still displayed on the chart
Useful for avoiding trading movements that are too small.
2. EMA FILTER
Uses two moving averages (EMA 50 and EMA 200) to filter direction:
- If active: places LONG orders only when EMA50 > EMA200 (uptrend)
- If active: places SHORT orders only when EMA50 < EMA200 (downtrend)
Useful for trading only in the direction of the main trend.
3. EXTENDED TREND
Modifies how the trend is considered "completed":
- If disabled: uses normal logic (opposite candle)
- If active: the trend remains in formation until a candle closes beyond
the dynamic 50%. When this happens, END freezes but the trend can continue.
Useful for capturing longer trends and extended movements.
VISUALIZATION
-------------
The strategy displays on the chart:
1. START AND END LABELS
- Red color for bearish trends
- Green color for bullish trends
- Gray color if the trend is not valid (too small)
- Remain visible even when new trends form
2. START AND END LINES
- Horizontal lines indicating the start (START) and end (END) points of the trend
- White color by default, customizable from the settings panel
- Update dynamically when the END point changes
- Can be shown or hidden via the "Show Start/End Lines" option
3. FIBONACCI LINES
The strategy shows horizontal lines at retracement levels:
- Line at 50% (yellow by default)
- Line at 25% (green by default)
- Line at 60% (azure by default)
- Line at 70% (red by default)
COLOR CUSTOMIZATION:
All line colors can be customized from the settings panel in the
"LINE COLORS" section:
- Start/End Line Color: customize the color of START and END lines
- 50% Line Color: customize the color of the 50% line
- 25% Line Color: customize the color of the 25% line
- 60% Line Color: customize the color of the 60% line
- 70% Line Color: customize the color of the 70% line
Lines update dynamically when the END point changes and can be shown or
hidden individually via options in the "VISUALIZATION" section.
4. PENDING ORDER LABELS
Show pending order information:
- Direction (LONG or SHORT)
- Entry price
- Stop Loss
- Take Profit
Positioned far from the chart to avoid cluttering the visualization.
ALERTS
------
If enabled, alerts send notifications when:
1. PENDING ORDER CREATED
When a new pending order is placed, with all information.
2. PENDING ORDER UPDATED
When the pending order is updated (for example, if the level changes or
if the END point moves).
3. ORDER OPENED
When the pending order is executed (filled) and the position is opened.
Alerts can be configured in TradingView to send notifications via email,
SMS, or other platforms.
RECOMMENDED SETTINGS
--------------------
To get started, you can use these settings:
VISUALIZATION:
- Show all lines and labels to see how it works
- Show Start/End Lines: true (to display lines at START and END points)
- Customize line colors in the "LINE COLORS" section according to your preferences
STRATEGY:
- Pending Order Level: 50% (balanced)
- Extended TP: 0% (use standard TP at 100%)
FILTERS:
- Minimum Trend: 0 pips (disabled initially)
- Use EMA Filter: false (disabled initially)
- Extended Trend: false (use normal logic)
ALERTS:
- Enable Alerts: true (if you want to receive notifications)
PRACTICAL EXAMPLE
-----------------
Scenario: Bearish Trend
1. Price forms 5 consecutive red candles
2. The strategy identifies:
- START = 1.2000 (highest point)
- END = 1.1900 (lowest point)
- Range = 100 pips
3. Calculates Fibonacci levels (for retracements: START = 100%, END = 0%):
- 100% = 1.2000 (START)
- 70% = 1.1930
- 60% = 1.1940
- 50% = 1.1950
- 25% = 1.1975
- 0% = 1.1900 (END)
4. If you set "Pending Order Level" to 50%:
- Places a SHORT pending order at 1.1950 (50% retracement)
- Stop Loss at 1.2000 (START = 100%)
- Take Profit at 1.1900 (END = 0%)
5. If price rises and touches 1.1950:
- The order is executed
- Opens a SHORT position
- If price falls to 1.1900 → Take Profit (profit)
- If price rises to 1.2000 → Stop Loss (loss)
IMPORTANT NOTE
--------------
This strategy is a technical analysis tool. Like all trading strategies,
it does not guarantee profits. Trading involves risks and you can lose money.
Always use appropriate risk management and test the strategy on historical
data before using it with real money.
LICENSE
-------
This code is open source and available for modification. You are free to
use, modify, and distribute this strategy. If you republish or share a
modified version, please kindly mention the original author.
================================================================================
Multitime ATR with ATR Heat Line# Multi-Timeframe ATR Supertrend with ATH Finder
## Overview
This advanced Pine Script indicator combines multi-timeframe ATR-based Supertrend analysis with an All-Time High (ATH) tracking system. Designed for swing traders who need comprehensive trend analysis across multiple timeframes while monitoring key price levels.
## Key Features
### 1. Multi-Timeframe ATR Supertrend (1H, 4H, 1D)
- **1 Hour Supertrend** (Blue): Short-term trend identification
- **4 Hour Supertrend** (Purple): Medium-term trend confirmation
- **1 Day Supertrend** (Green/Red): Primary trend direction
- Each timeframe displays independent trend lines with customizable colors and visibility
### 2. Dual ATR Data System (1D Only)
- **Previous Day ATR** (lookahead_off): Used for main ATR lines - enables pre-market study and avoids intraday crossover issues
- **Current Day ATR** (lookahead_on): Used for Overheating Line calculation - provides real-time profit-taking signals
### 3. Overheating Line
- Dynamically calculated as: `1D ATR + (ATR Width × 1.3)`
- Orange line indicating potential overextension zones
- Uses current day real-time ATR for intraday decision-making
- Only displays during uptrends
- Customizable multiplier (default: 1.3)
### 4. ATH (All-Time High) Finder
- Automatically tracks and displays the all-time high with a horizontal line
- **Line Color**: Lime green (customizable)
- **Label System**:
- Green label when price is at ATH
- Red label when ATH is historical
- Toggle label visibility independently
- **Bug Fix**: Prevents vertical line display when ATH occurs on current bar
- Line extends to the right for easy visualization
### 5. Warning & Break Signals
Each timeframe provides two types of alerts:
- **Warning Signal** (⚠️): Price closes below uptrend line (potential reversal warning)
- **Break Signal** (⚡): Price closes above downtrend line (potential breakout)
- Smart timing intervals prevent signal spam:
- 1H: Checks every 4 hours (warning) / 1 hour (break)
- 4H/1D: Max 2 signals per day
### 6. Trend Change Indicators
- Small circles mark the exact bar where trend changes occur
- Color-coded for each timeframe
- Helps identify reversal points and trend strength
### 7. Master Control Switches
Efficiently manage all visual elements:
- **Master Highlighter**: Toggle all background fills on/off
- **Master Signals**: Toggle all warning/break signals
- **Master Up Trend**: Toggle all uptrend lines and circles
- **Master Down Trend**: Toggle all downtrend lines and circles
### 8. Fast Cut Lines (Optional)
- Additional support/resistance lines offset by a percentage from main ATR lines
- Useful for tighter stop-loss management
- Separate controls for up and down trends
- Default: OFF (customizable offset percentage)
### 9. Timeframe Visibility Control
- **Hide on Daily+**: Automatically hides indicators (except 1D ATR) on daily timeframes and above
- Reduces chart clutter on higher timeframes
- 1D ATR always visible regardless of chart timeframe
### 10. EMA Integration (Optional)
- Display 20/50/200 EMAs for confluence with ATR trends
- Toggle on/off independently
## Use Cases
### For Swing Traders
1. **Entry Timing**: Wait for multiple timeframe alignment (1H, 4H, 1D all in uptrend)
2. **Trend Confirmation**: Use trend change circles to identify momentum shifts
3. **Profit Taking**: Monitor Overheating Line for potential exit zones
### For Position Management
1. **Stop Loss Placement**: Use 1D ATR line or Fast Cut lines as dynamic stop levels
2. **Risk Assessment**: Distance between timeframe ATR lines indicates volatility
3. **Breakout Trading**: Break signals (⚡) identify potential breakout opportunities
### For Pre-Market Analysis
- 1D ATR uses previous day data, allowing traders to:
- Study support/resistance levels before market open
- Plan entry/exit strategies based on confirmed data
- Avoid false signals from incomplete daily candles
## Settings Guide
### ATH Finder Settings
- **Show ATH Line**: Toggle ATH line visibility
- **Show ATH Label**: Toggle ATH label display (can hide label while keeping line)
- **ATH Line Color**: Customize line color (default: lime)
- **ATH Line Width**: Adjust line thickness (1-5)
### Timeframe Settings (Each timeframe has independent controls)
- **ATR Period**: Lookback period for ATR calculation (default: 10)
- **ATR Multiplier**: Distance multiplier from price (default: 1.0)
- **Show Label**: Display " " / " " / " " text labels
- **Show Warning/Break Signals**: Toggle alert symbols
- **Highlighter**: Toggle background fill between price and ATR line
### Overheating Line Settings
- **Show Overheating Line**: Toggle visibility
- **Overheating Multiplier**: Adjust distance above 1D ATR (default: 1.3)
### Cut Lines Settings
- **Show Fast Cut Line (Up/Down)**: Toggle visibility
- **Fast Cut Offset %**: Percentage distance from ATR lines (default: 1.0%)
## Color Scheme
- **Current TF**: Green (up) / Red (down)
- **1H ATR**: Blue (#1848cc) / Dark Blue (#210ba2)
- **4H ATR**: Purple (#7b1fa2) / Dark Purple (#4e0f60)
- **1D ATR**: Green (#4caf50) / Dark Red (#8c101a)
- **Overheating Line**: Orange (#ff9800)
- **ATH Line**: Lime (customizable)
## Technical Notes
### ATR Calculation
- Uses True Range for volatility measurement
- Option to switch between SMA and EMA calculation methods
- Adapts to both volatile and stable market conditions
### Performance Optimization
- Maximum 500 lines and 500 labels to prevent memory issues
- Bar index limitations prevent historical data errors
- Efficient repainting prevention for 1D timeframe
### Alert System
Built-in alert conditions for:
- Buy/Sell signals (Current TF)
- Warning signals (all timeframes)
- Break signals (all timeframes)
## Best Practices
1. **Multiple Timeframe Confirmation**: Don't trade against higher timeframe trends
2. **Overheating Awareness**: Consider profit-taking when price reaches orange line
3. **ATH Monitoring**: Exercise caution near all-time highs (increased volatility risk)
4. **Signal Filtering**: Use warning signals as alerts, not immediate action triggers
5. **Stop Loss Management**: Place stops below the most relevant ATR line for your timeframe
## Version Information
- Pine Script Version: 5
- Indicator Type: Overlay
- Max Lines: 500
- Max Labels: 500
## Credits
Created by @yohei ogura with <3
Modified for Multi-Timeframe functionality with ATH tracking
Punjis Dynamic Daily EMA/SMA 5,9,21,50,100 LevelsPunjis Dynamic Daily EMA/SMA 5,9,21,50,100 Levels
Overview:
This indicator displays daily timeframe moving averages as horizontal lines extending to the right of your chart, regardless of what timeframe you're currently viewing. It includes six key moving averages: EMA 5, EMA 9, EMA 21, SMA 50, SMA 100, and SMA 200.
Key Features:
Clean Chart Design: Unlike traditional moving average lines that clutter your chart with curves across all candles, this indicator uses horizontal lines that extend only from the current price level to the right edge of your screen
Multi-Timeframe Analysis: View daily moving averages on any intraday timeframe (1min, 5min, 15min, etc.) without switching charts
Fully Customizable:
Toggle each moving average on/off independently
Adjust the period length for each MA
Customize colors for each line
Master toggle to show/hide all lines at once
Reduced Visual Noise: Horizontal lines keep your price action clean and easy to read while still providing critical support/resistance levels
Professional Layout: Perfect for traders who need to monitor multiple key levels without obscuring candlestick patterns and chart analysis
Benefits of Horizontal Lines:
Cleaner Charts: Traditional MAs draw lines through every candle, creating visual clutter. Horizontal lines only show current values, keeping your chart clean
Focus on Current Levels: What matters most is where the MAs are NOW relative to price - horizontal lines highlight this instantly
Better Price Action Visibility: See candlestick patterns, volume, and support/resistance levels clearly without MA lines crossing through them
Quick Reference: Instantly identify if price is above or below key moving averages without following curved lines across the chart
Professional Appearance: Clean, minimalist design preferred by institutional traders and technical analysts
Use Cases:
Day traders monitoring higher timeframe levels on intraday charts
Swing traders tracking daily moving averages as dynamic support/resistance
Multi-timeframe analysis without chart switching
Identifying trend direction and potential reversal zones
Clean workspace for pattern recognition and price action trading
Trinity CCI Pro PlusWhat It Is
Trinity CCI Pro Plus is an innovative overlay indicator that reimagines the classic Commodity Channel Index (CCI) by plotting its levels directly on the price chart. No more separate oscillator panel—instead, you get dynamic price-based bands and lines for instant momentum insights.
What You See on the Chart
Orange line: The CCI zero line (20-period SMA of typical price, hlc3)—acts as the baseline.
Aqua line: Dynamic upper band at CCI = +100 (overbought threshold).
Purple line: Dynamic lower band at CCI = -100 (oversold threshold).
Optional thick purple line: The extra SMA of CCI (14-period smooth) scaled back to price—serves as a signal line for crossovers.
Optional outer zones: ±200 bands (aqua/purple extensions) for extreme momentum levels, often added as dotted or filled areas to spot blow-off tops/bottoms.
Key Differences from Regular CCI
Standard CCI lives in a lower pane with fixed horizontal lines at +100, 0, and -100, forcing you to split your focus. This version overlays everything on price: the bands curve with market volatility, the zero line becomes a moving average, and the extra SMA/signal line integrates seamlessly for price-action trading. Plus, it naturally supports outer ±200 zones without extra coding, making extremes visually pop.
How Traders Use It
Momentum breakouts: Buy when price closes above the +100 aqua band (or +200 for aggressive entries); sell below -100 purple (or -200).
Mean reversion: Fade touches on the bands—take profits if price rejects the +100/-100 levels, or watch for exhaustion at ±200.
Trend bias: Price above orange zero = bullish filter; below = bearish. Use the extra SMA for confirmation (e.g., price crossing above it signals upside).
Crossover signals: Price vs. the thick purple SMA line—bullish above, bearish below—pairs perfectly with band breaks.
Range trading: Treat ±100 bands as dynamic support/resistance; outer ±200 zones highlight potential breakout setups.
This setup shines in trending markets (e.g., stocks or forex on 1H/daily charts), turning CCI into a one-glance channel system. Start with the defaults, add the ±200 and extra SMA via simple code tweaks, and backtest for your style—it's versatile and reduces screen clutter dramatically.
More Info
The 20 period MA is the original and still the most common setting for CCI, and it is exactly what the creator of the CCI, Donald Lambert, published it in 1980 with these exact parameters:
Length: 20 periods
Constant: 0.015 (to make CCI fall between +100 and –100 about 70–80 % of the time)
Typical Price: hlc3 (or sometimes (high + low + close)/3)
Deviation measure: Mean Deviation (not standard deviation)
So the “Trinity CCI Pro Plus” you are using is 100 % faithful to Lambert’s original design when the length is set to 20.
Sani Momentum Target System [wjdtks255]Sani Momentum Target System Explanation & Trading Method
The Sani Momentum Target System is a momentum-based trading indicator that helps traders identify trend changes and determine precise entry points, stop-loss levels, and multiple profit targets.
Key Features:
Smoothed Price Calculation: Utilizes a glide-like smoothing function to reduce noise in price data.
Moving Averages: Calculates fast and slow EMAs on the smoothed price; the difference creates an oscillator.
Signal Line: A simple moving average smooths the oscillator to generate a signal line.
Trend Signals:
Buy signal when oscillator crosses above the signal line.
Sell signal when oscillator crosses below the signal line.
Entry, Stop Loss, Target Levels:
Entry price is set at current close on signal.
Stop loss is set by multiplying ATR by 2 against trend direction.
Three take profit targets (T1, T2, T3) are set by user-defined multiples of ATR.
Visual Display: Includes colored horizontal lines and labels for entry, stop loss, and targets.
Bars are colored by trend direction, and triangular markers show buy/sell signals.
How To Use This Indicator:
Entry: Place trades in the direction of the signal (long on buy, short on sell).
Stop Loss: Use the ATR-based stop loss line to minimize downside risk.
Profit Taking: Scale out profits or exit trades at target levels T1, T2, and T3.
Trend Confirmation: Confirm with oscillator trend direction before entry to avoid false signals.
Parameter Adjustment: Modify smoothing lengths, ATR period, and target multipliers to fit your trading style and timeframe.
Final Notes:
This indicator streamlines momentum trading by providing clear price targets and risk levels visually.
Always backtest strategies and apply proper risk management.
Suitable across asset classes: stocks, forex, cryptocurrencies.
If you want detailed guidance or customization, feel free to ask!
Pinbar MTF - No Repaint# Pinbar MTF - No Repaint Indicator
## Complete Technical Documentation
---
## 📊 Overview
**Pinbar MTF (Multi-Timeframe) - No Repaint** is a professional-grade TradingView Pine Script indicator designed to detect high-probability pinbar reversal patterns with advanced filtering systems. The indicator is specifically engineered to be **100% non-repainting**, making it reliable for both live trading and backtesting.
### Key Features
✅ **Non-Repainting** - Signals only appear AFTER bar closes, never disappear
✅ **Three-Layer Filter System** - ATR, SWING, and RSI filters
✅ **Automatic SL/TP Calculation** - Based on risk:reward ratios
✅ **Real-time Alerts** - TradingView notifications for all signals
✅ **Visual Trade Management** - Lines, labels, and areas for entries, stops, and targets
✅ **Backtesting Ready** - Reliable historical data for strategy testing
---
## 🎯 What is a Pinbar?
A **Pinbar (Pin Bar/Pinocchio Bar)** is a single candlestick pattern that indicates a potential price reversal:
### Bullish Pinbar (BUY Signal)
- **Long lower wick** (rejection of lower prices)
- **Small body at the top** of the candle
- Shows buyers rejected sellers' attempt to push price down
- Forms at support levels or swing lows
- Entry signal for LONG positions
### Bearish Pinbar (SELL Signal)
- **Long upper wick** (rejection of higher prices)
- **Small body at the bottom** of the candle
- Shows sellers rejected buyers' attempt to push price up
- Forms at resistance levels or swing highs
- Entry signal for SHORT positions
---
## 🔧 How the Indicator Works
### 1. **Pinbar Detection Logic**
The indicator analyzes the **previous closed bar ** to identify pinbar patterns:
```
Bullish Pinbar Requirements:
- Lower wick > 72% of total candle range (adjustable)
- Upper wick < 28% of total candle range
- Close > Open (bullish candle body)
Bearish Pinbar Requirements:
- Upper wick > 72% of total candle range (adjustable)
- Lower wick < 28% of total candle range
- Close < Open (bearish candle body)
```
**Why check ?** By analyzing the previous completed bar, we ensure the pattern is fully formed and won't change, preventing repainting.
---
### 2. **Three-Layer Filter System**
#### 🔍 **Filter #1: ATR (Average True Range) Filter**
- **Purpose**: Ensures the pinbar has significant size
- **Function**: Only signals if pinbar range ≥ ATR value
- **Benefit**: Filters out small, insignificant pinbars
- **Settings**:
- Enable/Disable toggle
- ATR Period (default: 7)
**Example**: If ATR = 50 pips, only pinbars with 50+ pip range will signal.
---
#### 🔍 **Filter #2: SWING Filter** (Always Active)
- **Purpose**: Confirms pinbar forms at swing highs/lows
- **Function**: Validates the pinbar is an absolute high/low
- **Benefit**: Identifies true reversal points
- **Settings**:
- Swing Candles (default: 3)
**How it works**:
- For bullish pinbar: Checks if low is lowest of past 3 bars
- For bearish pinbar: Checks if high is highest of past 3 bars
**Example**: With 3 swing candles, a bullish pinbar must have the lowest low among the last 3 bars.
---
#### 🔍 **Filter #3: RSI (Relative Strength Index) Filter**
- **Purpose**: Confirms momentum conditions
- **Function**: Prevents signals in extreme momentum zones
- **Benefit**: Avoids counter-trend trades
- **Settings**:
- Enable/Disable toggle
- RSI Period (default: 7)
- RSI Source (Close, Open, High, Low, HL2, HLC3, OHLC4)
- Overbought Level (default: 70)
- Oversold Level (default: 30)
**Logic**:
- Bullish Pinbar: Only signals if RSI < 70 (not overbought)
- Bearish Pinbar: Only signals if RSI > 30 (not oversold)
---
### 3. **Stop Loss Calculation**
Two methods available:
#### Method A: ATR-Based Stop Loss (Recommended)
```
Bullish Pinbar:
SL = Pinbar Low - (1 × ATR)
Bearish Pinbar:
SL = Pinbar High + (1 × ATR)
```
**Benefit**: Dynamic stops that adapt to market volatility
#### Method B: Fixed Pips Stop Loss
```
Bullish Pinbar:
SL = Pinbar Low - (Fixed Pips)
Bearish Pinbar:
SL = Pinbar High + (Fixed Pips)
```
**Settings**:
- Calculate Stop with ATR (toggle)
- Stop Pips without ATR (default: 5)
---
### 4. **Take Profit Calculation**
Take Profit is calculated based on Risk:Reward ratio:
```
Bullish Trade:
TP = Entry + (Entry - SL) × Risk:Reward Ratio
Bearish Trade:
TP = Entry - (SL - Entry) × Risk:Reward Ratio
```
**Example**:
- Entry: 1.2000
- SL: 1.1950 (50 pip risk)
- RR: 2:1
- TP: 1.2100 (100 pip reward = 50 × 2)
**Settings**:
- Risk:Reward Ratio (default: 1.0, range: 0.1 to 10.0)
---
## 📈 Visual Elements
### On-Chart Displays
1. **Signal Markers**
- 🟢 **Green Triangle Up** = Bullish Pinbar (BUY)
- 🔴 **Red Triangle Down** = Bearish Pinbar (SELL)
- Placed directly on the pinbar candle
2. **Entry Labels**
- Green "BUY" label with entry price
- Red "SELL" label with entry price
- Shows exact entry level
3. **Stop Loss Lines**
- 🔴 Red horizontal line
- "SL" label
- Extends 20 bars forward
4. **Take Profit Lines**
- 🟢 Green horizontal line
- "TP" label
- Extends 20 bars forward
5. **Risk/Reward Areas** (Optional)
- Red shaded box = Risk zone (Entry to SL)
- Green shaded box = Reward zone (Entry to TP)
- Visual risk:reward visualization
6. **Info Table** (Top Right)
- Displays current settings
- Shows filter status (ON/OFF)
- Real-time RSI value
- Quick reference panel
---
## 🔔 Alert System
Three alert types available:
### 1. Combined Alert: "Pinbar Signal (Any Direction)"
- Fires for BOTH bullish and bearish pinbars
- **Best for**: General monitoring
- **Message**: "Pinbar Signal Detected on {TICKER} at {PRICE}"
### 2. Bullish Alert: "Bullish Pinbar Alert"
- Fires ONLY for BUY signals
- **Best for**: Long-only strategies
- **Message**: "BUY Signal on {TICKER} at {PRICE}"
### 3. Bearish Alert: "Bearish Pinbar Alert"
- Fires ONLY for SELL signals
- **Best for**: Short-only strategies
- **Message**: "SELL Signal on {TICKER} at {PRICE}"
---
## ⚙️ Input Parameters Reference
### **Filters Group**
| Parameter | Default | Range | Description |
|-----------|---------|-------|-------------|
| ATR Filter on Pinbar Range? | ✅ ON | Boolean | Enable/disable ATR filter |
| ATR Period | 7 | 1+ | Lookback period for ATR calculation |
| Swing Candles | 3 | 1+ | Bars to check for swing high/low |
| RSI Filter on Pinbar? | ❌ OFF | Boolean | Enable/disable RSI filter |
| RSI Period | 7 | 2+ | Lookback period for RSI calculation |
| RSI Source | Close | Multiple | Price data for RSI (Close/Open/High/Low/etc) |
| RSI Overbought Level | 70 | 50-100 | Upper threshold for RSI filter |
| RSI Oversold Level | 30 | 0-50 | Lower threshold for RSI filter |
### **Pinbar Detection Group**
| Parameter | Default | Range | Description |
|-----------|---------|-------|-------------|
| Shadow % vs Body | 72 | 50-95 | Minimum wick size as % of total range |
### **Visualization Group**
| Parameter | Default | Range | Description |
|-----------|---------|-------|-------------|
| Show SL and TP Lines? | ✅ ON | Boolean | Display stop loss and take profit lines |
| Show SL and TP Area? | ❌ OFF | Boolean | Show shaded risk/reward boxes |
### **Risk Management Group**
| Parameter | Default | Range | Description |
|-----------|---------|-------|-------------|
| Risk:Reward Ratio | 1.0 | 0.1-10.0 | Target profit vs risk (1.0 = 1:1, 2.0 = 1:2) |
| Calculate Stop with ATR? | ✅ ON | Boolean | Use ATR for stop calculation |
| Stop Pips without ATR | 5 | 1+ | Fixed pip stop when ATR disabled |
---
## 🚫 Non-Repainting Architecture
### What is Repainting?
**Repainting** occurs when an indicator's historical signals differ from what appeared in real-time. This makes backtesting unreliable and can lead to false confidence in a strategy.
### How This Indicator Prevents Repainting
1. **Closed Bar Analysis**
- All calculations use ` ` offset (previous bar)
- Only analyzes COMPLETED candles
- Signals appear on the bar AFTER the pinbar closes
2. **Confirmed Swing Points**
- Waits for sufficient bar history before signaling
- Only checks historical bars that cannot change
- Prevents premature swing detection
3. **Static Alert Timing**
- Alerts fire only after bar completion
- No conditional logic that changes historically
- Same results in replay mode and live trading
### Verification Method
To verify non-repainting behavior:
1. Apply indicator to chart
2. Note signal locations and prices
3. Refresh browser / reload chart
4. **Signals remain in exact same locations**
---
## 💼 Trading Strategy Guidelines
### Entry Rules
**For Bullish Pinbar (LONG):**
1. Wait for green triangle to appear
2. Enter at close of pinbar (shown in label)
3. Alternative: Enter on break of pinbar high
4. Place stop loss at red SL line
5. Set target at green TP line
**For Bearish Pinbar (SHORT):**
1. Wait for red triangle to appear
2. Enter at close of pinbar (shown in label)
3. Alternative: Enter on break of pinbar low
4. Place stop loss at red SL line
5. Set target at green TP line
### Risk Management
- **Position Sizing**: Risk only 1-2% of account per trade
- **Stop Loss**: Always use the calculated SL (never move it wider)
- **Take Profit**: Use calculated TP or trail stop after 1:1 RR
- **Multiple Timeframes**: Confirm signals on higher timeframe
### Best Practices
✅ **DO:**
- Wait for bar to close before entering
- Trade in direction of higher timeframe trend
- Use on liquid markets with clear support/resistance
- Combine with price action analysis
- Keep a trading journal
❌ **DON'T:**
- Enter before bar closes (prevents seeing full pattern)
- Trade against strong trends
- Ignore the filters (they improve win rate)
- Risk more than 2% per trade
- Trade every signal (be selective)
---
## 📊 Backtesting & Data Export
### Available Data Points
The indicator exports these values for strategy development:
| Output | Description |
|--------|-------------|
| Bullish Signal | 1 = BUY signal, 0 = No signal |
| Bearish Signal | 1 = SELL signal, 0 = No signal |
| Bull SL | Stop loss level for long trades |
| Bull TP | Take profit level for long trades |
| Bull Entry | Entry price for long trades |
| Bear SL | Stop loss level for short trades |
| Bear TP | Take profit level for short trades |
| Bear Entry | Entry price for short trades |
### How to Use in Strategy
These values can be accessed by Pine Script strategies using:
```pine
indicator_values = request.security(syminfo.tickerid, timeframe.period,
)
```
---
## 🎓 Understanding the Filters
### Why Use Multiple Filters?
Single-indicator systems often generate too many false signals. This indicator uses a **confluence approach**:
1. **Pinbar Pattern** = Price rejection detected
2. **+ SWING Filter** = Rejection at key level
3. **+ ATR Filter** = Significant move
4. **+ RSI Filter** = Favorable momentum
**Result**: Higher probability setups with better risk:reward
### Filter Optimization
**Conservative Settings** (Fewer, Higher Quality Signals):
- ATR Filter: ON
- Swing Candles: 5
- RSI Filter: ON
- Shadow %: 75%
**Aggressive Settings** (More Signals, More Noise):
- ATR Filter: OFF
- Swing Candles: 2
- RSI Filter: OFF
- Shadow %: 65%
**Balanced Settings** (Recommended):
- ATR Filter: ON
- Swing Candles: 3
- RSI Filter: OFF (or ON for trending markets)
- Shadow %: 72%
---
## 🔍 Troubleshooting
### "No Signals Appearing"
**Possible Causes:**
1. Filters are too strict
2. No pinbars forming on chart
3. Insufficient bar history
**Solutions:**
- Reduce Shadow % to 65%
- Reduce Swing Candles to 2
- Disable ATR or RSI filters temporarily
- Check that chart has enough data loaded
### "Too Many Signals"
**Solutions:**
- Enable ATR filter
- Increase Swing Candles to 4-5
- Enable RSI filter
- Increase Shadow % to 75-80%
### "Signals Appearing Late"
**This is normal behavior!** The indicator:
- Analyzes previous closed bar
- Signals appear on the bar AFTER the pinbar
- This is what prevents repainting
- Signal latency is 1 bar (by design)
---
## 📝 Technical Specifications
**Indicator Type:** Overlay (displays on price chart)
**Pine Script Version:** 5
**Max Labels:** 500
**Max Lines:** 500
**Repainting:** None (100% non-repainting)
**Data Window Values:** 8 exported values
**Alert Types:** 3 (Combined, Bullish, Bearish)
**Performance:**
- Lightweight script (fast execution)
- Works on all timeframes
- Compatible with all markets (Forex, Crypto, Stocks, Futures)
- No data snooping bias
---
## 🎯 Use Cases
### 1. **Swing Trading**
- Timeframe: Daily, 4H
- Filter Settings: All enabled
- Best for: Catching major reversals
### 2. **Day Trading**
- Timeframe: 15m, 1H
- Filter Settings: ATR + SWING only
- Best for: Intraday reversals
### 3. **Scalping**
- Timeframe: 5m, 15m
- Filter Settings: SWING only (aggressive)
- Best for: Quick reversals (requires experience)
### 4. **Position Trading**
- Timeframe: Weekly, Daily
- Filter Settings: All enabled + high RR (2:1 or 3:1)
- Best for: Long-term trend reversal catches
---
## 🏆 Advantages Over Other Pinbar Indicators
✅ **Guaranteed Non-Repainting** - Many pinbar indicators repaint; this one never does
✅ **Automatic SL/TP** - No manual calculation needed
✅ **Multi-Layer Filtering** - Reduces false signals significantly
✅ **Visual Trade Management** - Clear entry, stop, and target levels
✅ **Flexible Configuration** - Adaptable to any trading style
✅ **Alert System** - Never miss a setup
✅ **Backtesting Ready** - Reliable historical data
✅ **Professional Grade** - Suitable for live trading
---
## 📚 Educational Resources
### Recommended Reading on Pinbars
- "The Pin Bar Trading Strategy" by Nial Fuller
- "Price Action Trading" by Al Brooks
- TradingView Education: Price Action Patterns
### Practice Recommendations
1. Paper trade signals for 20+ trades before live trading
2. Backtest on different timeframes and markets
3. Keep detailed records of all trades
4. Analyze winning vs losing setups
5. Refine filter settings based on results
---
## ⚖️ Disclaimer
This indicator is a tool for technical analysis and does not guarantee profits. Trading involves substantial risk of loss. Past performance is not indicative of future results.
- Always use proper risk management
- Never risk more than you can afford to lose
- Consider your trading experience and objectives
- Seek independent financial advice if needed
---
## 📧 Version Information
**Current Version:** 1.0
**Last Updated:** 2024
**Compatibility:** TradingView Pine Script v5
**Status:** Production Ready
---
## 🔄 Future Enhancements (Potential)
Possible future additions:
- Multi-timeframe confirmation option
- Volume filter integration
- Customizable color schemes
- Win rate statistics display
- Partial profit taking levels
- Trailing stop functionality
---
## 📖 Quick Start Guide
### 5-Minute Setup
1. **Add to Chart**
- Open TradingView
- Go to Pine Editor
- Paste the code
- Click "Add to Chart"
2. **Configure Settings**
- Open indicator settings (gear icon)
- Start with default settings
- Enable "Show SL and TP Lines"
3. **Set Alert**
- Right-click indicator name
- Click "Add Alert"
- Select "Pinbar Signal (Any Direction)"
- Configure notification method
4. **Test**
- Scroll back on chart
- Verify signals make sense
- Check that signals don't repaint
5. **Trade** (After Practice!)
- Wait for alert
- Verify signal quality
- Enter, place SL/TP
- Manage trade
---
## 🎯 Final Thoughts
The **Pinbar MTF - No Repaint** indicator is designed for serious traders who value:
- **Reliability** over flashy signals
- **Quality** over quantity
- **Honesty** over false promises
This indicator will NOT:
- Make you rich overnight
- Win every trade
- Replace proper trading education
This indicator WILL:
- Identify high-probability reversal setups
- Save you analysis time
- Provide consistent, non-repainting signals
- Help you develop a systematic trading approach
**Success in trading comes from:**
1. Proper education (60%)
2. Risk management (30%)
3. Technical tools like this indicator (10%)
Use this tool as part of a complete trading plan, not as a standalone solution.
Quantum Fluxtrend [CHE] Quantum Fluxtrend — A dynamic Supertrend variant with integrated breakout event tracking and VWAP-guided risk management for clearer trend decisions.
Summary
The Quantum Fluxtrend builds on traditional Supertrend logic by incorporating a midline derived from smoothed high and low values, creating adaptive bands that respond to market range expansion or contraction. This results in fewer erratic signals during volatile periods and smoother tracking in steady trends, while an overlaid event system highlights breakout confirmations, potential traps, or continuations with visual lines, labels, and percentage deltas from the close. Users benefit from real-time VWAP calculations anchored to events, providing dynamic stop-loss suggestions to help manage exits without manual adjustments. Overall, it layers signal robustness with actionable annotations, reducing noise in fast-moving charts.
Motivation: Why this design?
Standard Supertrend indicators often generate excessive flips in choppy conditions or lag behind in low-volatility drifts, leading to whipsaws that erode confidence in trend direction. This design addresses that by centering bands around a midline that reflects recent price spreads, ensuring adjustments are proportional to observed variability. The added event layer captures regime shifts explicitly, turning abstract crossovers into labeled milestones with trailing VWAP for context, which helps traders distinguish genuine momentum from fleeting noise without over-relying on raw price action.
What’s different vs. standard approaches?
- Baseline reference: Diverges from the classic Supertrend, which uses average true range for fixed offsets from a median price.
- Architecture differences:
- Bands form around a central line averaged from smoothed highs and lows, with offsets scaled by half the range between those smooths.
- Regime direction persists until a clear breach of the prior opposite band, preventing premature reversals.
- Event visualization draws persistent lines from flip points, updating labels based on price sustainment relative to the trigger level.
- VWAP resets at each event, accumulating volume-weighted prices forward for a trailing reference.
- Practical effect: Charts show fewer direction changes overall, with color-coded annotations that evolve from initial breakout to continuation or trap status, making it easier to spot sustained moves early. VWAP lines provide a volume-informed anchor that curves with price, offering visual cues for adverse drifts.
How it works (technical)
The process starts by smoothing high and low prices over a user-defined period to form upper and lower references. A midline sits midway between them, and half the spread acts as a base for band offsets, adjusted by a multiplier to widen or narrow sensitivity. On each bar, the close is checked against the previous bar's opposite band: crossing above expands the lower band downward in uptrends, or below contracts the upper band upward in downtrends, creating a ratcheting effect that locks in direction until breached.
Persistent state tracks the current regime, seeding initial bands from the smoothed values if no prior data exists. Flips trigger new horizontal lines at the breach level, styled by direction, alongside labels that monitor sustainment—price holding above for up-flips or below for down-flips keeps the regime, while reversal flags a trap.
Separately, at each flip, a dashed VWAP line initializes at the breach price and extends forward, accumulating the product of typical prices and volumes divided by total volume. This yields a curving reference that updates bar-by-bar. Warnings activate if price strays adversely from this VWAP, tinting the background for quick alerts.
No higher timeframe data is pulled, so all computations run on the chart's native resolution, avoiding lookahead biases unless repainting is enabled via input.
Parameter Guide
SMA Length — Controls smoothing of highs and lows for midline and range base; longer values dampen noise but increase lag. Default: 20. Trade-offs: Shortens responsiveness in trends (e.g., 10–14) but risks more flips; extend to 30+ for stability in ranging markets.
Multiplier — Scales band offsets from the half-range; higher amplifies to capture bigger swings. Default: 1.0. Trade-offs: Above 1.5 widens for volatile assets, reducing false signals; below 0.8 tightens for precision but may miss subtle shifts.
Show Bands — Toggles visibility of basic and adjusted band lines for reference. Default: false. Tip: Enable briefly to verify alignment with price action.
Show Background Color — Displays red tint on VWAP adverse crosses for visual warnings. Default: false. Trade-offs: Helps in live monitoring but can clutter clean charts.
Line Width — Sets thickness for event and VWAP lines. Default: 2. Tip: Thicker (3–5) for emphasis on key levels.
+Bars after next event — Extends old lines briefly before cleanup on new flips. Default: 20. Trade-offs: Longer preserves history (40+) at resource cost; shorter keeps charts tidy.
Allow Repainting — Permits live-bar updates for smoother real-time view. Default: false. Tip: Disable for backtest accuracy.
Extension 1 Settings (Show, Width, Size, Decimals, Colors, Alpha) — Manages dotted connector from event label to current close, showing percentage change. Defaults: Shown, width 2, normal size, 2 decimals, lime/red for gains/losses, gray line, 90% transparent background. Trade-offs: Fewer decimals for clean display; adjust alpha for readability.
Extension 2 Settings (Show, Method, Stop %, Ticks, Decimals, Size, Color, Inherit, Alpha) — Positions stop label at VWAP end, offset by percent or ticks. Defaults: Shown, percent method, 1.0%, 20 ticks, 4 decimals, normal size, white text, inherit tint, 0% alpha. Trade-offs: Percent for proportional risk; ticks for fixed distance in tick-based assets.
Alert Toggles — Enables notifications for breakouts, continuations, traps, or VWAP warnings. All default: true. Tip: Layer with chart alerts for multi-condition setups.
Reading & Interpretation
The main Supertrend line colors green for up-regimes (price above lower band) and red for down (below upper band), serving as a dynamic support/resistance trail. Flip shapes (up/down triangles) mark regime changes at band breaches.
Event lines extend horizontally from flips: green for bull, red for bear. Labels start blank and update to "Bull/Bear Cont." if price sustains the direction, or "Trap" if it reverses, with colors shifting lime/red/gray accordingly. A dotted vertical links the trailing label to the current close, mid-labeled with the percentage delta (positive green, negative red).
VWAP dashes yellow (bull) or orange (bear) from the event, curving to reflect volume-weighted average. At its end, a left-aligned label shows suggested stop price, annotated with offset details. Background red hints at weakening if price crosses VWAP opposite the regime.
Deltas near zero suggest consolidation; widening extremes signal momentum buildup or exhaustion.
Practical Workflows & Combinations
- Trend following: Enter long on green flip shapes confirmed by higher highs, using the event line as initial stop below. Trail stops to VWAP for bull runs, exiting on trap labels or red background warnings. Filter with volume spikes to avoid low-conviction breaks.
- Exits/Stops: Conservative: Set hard stops at suggested SL labels. Aggressive: Hold through minor traps if delta stays positive, but cut on regime flip. Pair with momentum oscillators for overbought pullbacks.
- Multi-asset/Multi-TF: Defaults suit forex/stocks on 15m–4H; for crypto, bump multiplier to 1.5 for volatility. Scale SMA length proportionally across timeframes (e.g., double for daily). Combine with structure tools like Fibonacci for confluence on event lines.
Behavior, Constraints & Performance
Live bars update lines and labels dynamically if repainting is allowed, but signals confirm on close for stability—flips only trigger post-bar. No higher timeframe calls, so no inherent lookahead, though volume weighting assumes continuous data.
Resources cap at 1000 bars back, 50 lines/labels max; events prune old ones on new flips to stay under budget, with brief extensions for visibility. Arrays or loops absent, keeping it lightweight.
Known limits include lag in extreme gaps (e.g., overnight opens) where bands may not adjust instantly, and VWAP sensitivity to sparse volume in illiquid sessions.
Sensible Defaults & Quick Tuning
Start with SMA 20, multiplier 1.0 for balanced response across majors. For choppy pairs: Lengthen SMA to 30, multiplier 0.8 to tighten bands and cut flips. For trending equities: Shorten to 14, multiplier 1.2 for quicker entries. If traps dominate, enable bands to inspect range compression; for sluggish signals, reduce extension bars to focus on recent events.
What this indicator is—and isn’t
This serves as a visualization and signal layer for trend regimes and breakouts, highlighting sustainment via annotations and risk cues through VWAP—ideal atop price action for confirmation. It is not a standalone system, predictive oracle, or risk calculator; always integrate with broader analysis, position sizing, and stops. Use responsibly as an educational tool.
Disclaimer
The content provided, including all code and materials, is strictly for educational and informational purposes only. It is not intended as, and should not be interpreted as, financial advice, a recommendation to buy or sell any financial instrument, or an offer of any financial product or service. All strategies, tools, and examples discussed are provided for illustrative purposes to demonstrate coding techniques and the functionality of Pine Script within a trading context.
Any results from strategies or tools provided are hypothetical, and past performance is not indicative of future results. Trading and investing involve high risk, including the potential loss of principal, and may not be suitable for all individuals. Before making any trading decisions, please consult with a qualified financial professional to understand the risks involved.
By using this script, you acknowledge and agree that any trading decisions are made solely at your discretion and risk.
Do not use this indicator on Heikin-Ashi, Renko, Kagi, Point-and-Figure, or Range charts, as these chart types can produce unrealistic results for signal markers and alerts.
Best regards and happy trading
Chervolino
Luxy BIG beautiful Dynamic ORBThis is an advanced Opening Range Breakout (ORB) indicator that tracks price breakouts from the first 5, 15, 30, and 60 minutes of the trading session. It provides complete trade management including entry signals, stop-loss placement, take-profit targets, and position sizing calculations.
The ORB strategy is based on the concept that the opening range of a trading session often acts as support/resistance, and breakouts from this range tend to lead to significant moves.
What Makes This Different?
Most ORB indicators simply draw horizontal lines and leave you to figure out the rest. This indicator goes several steps further:
Multi-Stage Tracking
Instead of just one ORB timeframe, this tracks FOUR simultaneously (5min, 15min, 30min, 60min). Each stage builds on the previous one, giving you multiple trading opportunities throughout the session.
Active Trade Management
When a breakout occurs, the indicator automatically calculates and displays entry price, stop-loss, and multiple take-profit targets. These lines extend forward and update in real-time until the trade completes.
Cycle Detection
Unlike indicators that only show the first breakout, this tracks the complete cycle: Breakout → Retest → Re-breakout. You can see when price returns to test the ORB level after breaking out (potential re-entry).
Failed Breakout Warning
If price breaks out but quickly returns inside the range (within a few bars), the label changes to "FAILED BREAK" - warning you to exit or avoid the trade.
Position Sizing Calculator
Built-in risk management that tells you exactly how many shares to buy based on your account size and risk tolerance. No more guessing or manual calculations.
Advanced Filtering
Optional filters for volume confirmation, trend alignment, and Fair Value Gaps (FVG) to reduce false signals and improve win rate.
Core Features Explained
### 1. Multi-Stage ORB Levels
The indicator builds four separate Opening Range levels:
ORB 5 - First 5 minutes (fastest signals, most volatile)
ORB 15 - First 15 minutes (balanced, most popular)
ORB 30 - First 30 minutes (slower, more reliable)
ORB 60 - First 60 minutes (slowest, most confirmed)
Each level is drawn as a horizontal range on your chart. As time progresses, the ranges expand to include more price action. You can enable or disable any stage and assign custom colors to each.
How it works: During the opening minutes, the indicator tracks the highest high and lowest low. Once the time period completes, those levels become your ORB high and low for that stage.
### 2. Breakout Detection
When price closes outside the ORB range, a label appears:
BREAK UP (green label above price) - Price closed above ORB High
BREAK DOWN (red label below price) - Price closed below ORB Low
The label shows which ORB stage triggered (ORB5, ORB15, etc.) and the cycle number if tracking multiple breakouts.
Important: Signals appear on bar close only - no repainting. What you see is what you get.
### 3. Retest Detection
After price breaks out and moves away, if it returns to test the ORB level, a "RETEST" label appears (orange). This indicates:
The original breakout level is now acting as support/resistance
Potential re-entry opportunity if you missed the first breakout
Confirmation that the level is significant
The indicator requires price to move a minimum distance away before considering it a valid retest (configurable in settings).
### 4. Failed Breakout Detection
If price breaks out but returns inside the ORB range within a few bars (before the breakout is "committed"), the original label changes to "FAILED BREAK" in orange.
This warns you:
The breakout lacked conviction
Consider exiting if already in the trade
Wait for better setup
Committed Breakout: The indicator tracks how many bars price stays outside the range. Only after staying outside for the minimum number of bars does it become a committed breakout that can be retested.
### 5. TP/SL Lines (Trade Management)
When a breakout occurs, colored horizontal lines appear showing:
Entry Line (cyan for long, orange for short) - Your entry price (the ORB level)
Stop Loss Line (red) - Where to exit if trade goes against you
TP1, TP2, TP3 Lines (same color as entry) - Profit targets at 1R, 2R, 3R
These lines extend forward as new bars form, making it easy to track your trade. When a target is hit, the line turns green and the label shows a checkmark.
Lines freeze (stop updating) when:
Stop loss is hit
The final enabled take-profit is hit
End of trading session (optional setting)
### 6. Position Sizing Dashboard
The dashboard (bottom-left corner by default) shows real-time information:
Current ORB stage and range size
Breakout status (Inside Range / Break Up / Break Down)
Volume confirmation (if filter enabled)
Trend alignment (if filter enabled)
Entry and Stop Loss prices
All enabled Take Profit levels with percentages
Risk/Reward ratio
Position sizing: Max shares to buy and total risk amount
Position Sizing Example:
If your account is $25,000 and you risk 1% per trade ($250), and the distance from entry to stop loss is $0.50, the calculator shows you can buy 500 shares (250 / 0.50 = 500).
### 7. FVG Filter (Fair Value Gap)
Fair Value Gaps are price inefficiencies - gaps left by strong momentum where one candle's high doesn't overlap with a previous candle's low (or vice versa).
When enabled, this filter:
Detects bullish and bearish FVGs
Draws semi-transparent boxes around these gaps
Only allows breakout signals if there's an FVG near the breakout level
Why this helps: FVGs indicate institutional activity. Breakouts through FVGs tend to be stronger and more reliable.
Proximity setting: Controls how close the FVG must be to the ORB level. 2.0x means the breakout can be within 2 times the FVG size - a reasonable default.
### 8. Volume & Trend Filters
Volume Filter:
Requires current volume to be above average (customizable multiplier). High volume breakouts are more likely to sustain.
Set minimum multiplier (e.g., 1.5x = 50% above average)
Set "strong volume" multiplier (e.g., 2.5x) that bypasses other filters
Dashboard shows current volume ratio
Trend Filter:
Only shows breakouts aligned with a higher timeframe trend. Choose from:
VWAP - Price above/below volume-weighted average
EMA - Price above/below exponential moving average
SuperTrend - ATR-based trend indicator
Combined modes (VWAP+EMA, VWAP+SuperTrend) for stricter filtering
### 9. Pullback Filter (Advanced)
Purpose:
Waits for price to pull back slightly after initial breakout before confirming the signal.
This reduces false breakouts from immediate reversals.
How it works:
- After breakout is detected, indicator waits for a small pullback (default 2%)
- Once pullback occurs AND price breaks out again, signal is confirmed
- If no pullback within timeout period (5 bars), signal is issued anyway
Settings:
Enable Pullback Filter: Turn this filter on/off
Pullback %: How much price must pull back (2% is balanced)
Timeout (bars): Max bars to wait for pullback (5 is standard)
When to use:
- Choppy markets with many fake breakouts
- When you want higher quality signals
- Combine with Volume filter for maximum confirmation
Trade-off:
- Better signal quality
- May miss some valid fast moves
- Slight entry delay
How to Use This Indicator
### For Beginners - Simple Setup
Add the indicator to your chart (5-minute or 15-minute timeframe recommended)
Leave all default settings - they work well for most stocks
Watch for BREAK UP or BREAK DOWN labels to appear
Check the dashboard for entry, stop loss, and targets
Use the position sizing to determine how many shares to buy
Basic Trading Plan:
Wait for a clear breakout label
Enter at the ORB level (or next candle open if you're late)
Place stop loss where the red line indicates
Take profit at TP1 (50% of position) and TP2 (remaining 50%)
### For Advanced Traders - Customized Setup
Choose which ORB stages to track (you might only want ORB15 and ORB30)
Enable filters: Volume (stocks) or Trend (trending markets)
Enable FVG filter for institutional confirmation
Set "Track Cycles" mode to catch retests and re-breakouts
Customize stop loss method (ATR for volatile stocks, ORB% for stable ones)
Adjust risk per trade and account size for accurate position sizing
Advanced Strategy Example:
Enable ORB15 only (disable others for cleaner chart)
Turn on Volume filter at 1.5x with Strong at 2.5x
Enable Trend filter using VWAP
Set Signal Mode to "Track Cycles" with Max 3 cycles
Wait for aligned breakouts (Volume + Trend + Direction)
Enter on retest if you missed the initial break
### Timeframe Recommendations
5-minute chart: Scalping, very active trading, crypto
15-minute chart: Day trading, balanced approach (most popular)
30-minute chart: Swing entries, less screen time
60-minute chart: Position trading, longer holds
The indicator works on any intraday timeframe, but ORB is fundamentally a day trading strategy. Daily charts don't make sense for ORB.
DEFAULT CONFIGURATION
ON by Default:
• All 4 ORB stages (5/15/30/60)
• Breakout Detection
• Retest Labels
• All TP levels (1/1.5/2/3)
• TP/SL Lines (Detailed mode)
• Dashboard (Bottom Left, Dark theme)
• Position Size Calculator
OFF by Default (Optional Filters):
• FVG Filter
• Pullback Filter
• Volume Filter
• Trend Filter
• HTF Bias Check
• Alerts
Recommended for Beginners:
• Leave all defaults
• Session Mode: Auto-Detect
• Signal Mode: Track Cycles
• Stop Method: ATR
• Add Volume Filter if trading stocks
Recommended for Advanced:
• Enable ORB15 + ORB30 only (disable 5 & 60)
• Enable: Volume + Trend + FVG
• Signal Mode: Track Cycles, Max 3
• Stop Method: ATR or Safer
• Enable HTF Daily bias check
## Settings Guide
The settings are organized into logical groups. Here's what each section controls:
### ORB COLORS Section
Show Edge Labels: Display "ORB 5", "ORB 15" labels at the right edge of the levels
Background: Fill the area between ORB high/low with color
Transparency: How see-through the background is (95% is nearly invisible)
Enable ORB 5/15/30/60: Turn each stage on or off individually
Colors: Assign colors to each ORB stage for easy identification
### SESSION SETTINGS Section
Session Mode: Choose trading session (Auto-Detect works for most instruments)
Custom Session Hours: Define your own hours if needed (format: HHMM-HHMM)
Auto-Detect uses the instrument's natural hours (stocks use exchange hours, crypto uses 24/7).
### BREAKOUT DETECTION Section
Enable Breakout Detection: Master switch for signals
Show Retest Labels: Display retest signals
Label Size: Visual size for all labels (Small recommended)
Enable FVG Filter: Require Fair Value Gap confirmation
Show FVG Boxes: Display the gap boxes on chart
Signal Mode: "First Only" = one signal per direction per day, "Track Cycles" = multiple signals
Max Cycles: How many breakout-retest cycles to track (6 is balanced)
Breakout Buffer: Extra distance required beyond ORB level (0.1-0.2% recommended)
Min Distance for Retest: How far price must move away before retest is valid (2% recommended)
Min Bars Outside ORB: Bars price must stay outside for committed breakout (2 is balanced)
### TARGETS & RISK Section
Enable Targets & Stop-Loss: Calculate and show trade management
TP1/TP2/TP3 checkboxes: Select which profit targets to display
Stop Method: How to calculate stop loss placement
- ATR: Based on volatility (best for most cases)
- ORB %: Fixed % of ORB range
- Swing: Recent swing high/low
- Safer: Widest of all methods
ATR Length & Multiplier: Controls ATR stop distance (14 period, 1.5x is standard)
ORB Stop %: Percentage beyond ORB for stop (20% is balanced)
Swing Bars: Lookback period for swing high/low (3 is recent)
### TP/SL LINES Section
Show TP/SL Lines: Display horizontal lines on chart
Label Format: "Short" = minimal text, "Detailed" = shows prices
Freeze Lines at EOD: Stop extending lines at session close
### DASHBOARD Section
Show Info Panel: Display the metrics dashboard
Theme: Dark or Light colors
Position: Where to place dashboard on chart
Toggle rows: Show/hide specific information rows
Calculate Position Size: Enable the position sizing calculator
Risk Mode: Risk fixed $ amount or % of account
Account Size: Your total trading capital
Risk %: Percentage to risk per trade (0.5-1% recommended)
### VOLUME FILTER Section
Enable Volume Filter: Require volume confirmation
MA Length: Average period (20 is standard)
Min Volume: Required multiplier (1.5x = 50% above average)
Strong Volume: Multiplier that bypasses other filters (2.5x)
### TREND FILTER Section
Enable Trend Filter: Require trend alignment
Trend Mode: Method to determine trend (VWAP is simple and effective)
Custom EMA Length: If using EMA mode (50 for swing, 20 for day trading)
SuperTrend settings: Period and Multiplier if using SuperTrend mode
### HIGHER TIMEFRAME Section
Check Daily Trend: Display higher timeframe bias in dashboard
Timeframe: What TF to check (D = daily, recommended)
Method: Price vs MA (stable) or Candle Direction (reactive)
MA Period: EMA length for Price vs MA method (20 is balanced)
Min Strength %: Minimum strength threshold for HTF bias to be considered
- For "Price vs MA": Minimum distance (%) from moving average
- For "Candle Direction": Minimum candle body size (%)
- 0.5% is balanced - increase for stricter filtering
- Lower values = more signals, higher values = only strong trends
### ALERTS Section
Enable Alerts: Master switch (must be ON to use any alerts)
Breakout Alerts: Notify on ORB breakouts
Retest Alerts: Notify when price retests after breakout
Failed Break Alerts: Notify on failed breakouts
Stage Complete Alerts: Notify when each ORB stage finishes forming
After enabling desired alert types, click "Create Alert" button, select this indicator, choose "Any alert() function call".
## Tips & Best Practices
### General Trading Tips
ORB works best on liquid instruments (stocks with good volume, major crypto pairs)
First hour of the session is most important - that's when ORB is forming
Breakouts WITH the trend have higher success rates - use the trend filter
Failed breakouts are common - use the "Min Bars Outside" setting to filter weak moves
Not every day produces good ORB setups - be patient and selective
### Position Sizing Best Practices
Never risk more than 1-2% of your account on a single trade
Use the built-in calculator - don't guess your position size
Update your account size monthly as it grows
Smaller accounts: use $ Amount mode for simplicity
Larger accounts: use % of Account mode for scaling
### Take Profit Strategy
Most traders use: 50% at TP1, 50% at TP2
Aggressive: Hold through TP1 for TP2 or TP3
Conservative: Full exit at TP1 (1:1 risk/reward)
After TP1 hits, consider moving stop to breakeven
TP3 rarely hits - only on strong trending days
### Filter Combinations
Maximum Quality: Volume + Trend + FVG (fewest signals, highest quality)
Balanced: Volume + Trend (good quality, reasonable frequency)
Active Trading: No filters or Volume only (many signals, lower quality)
Trending Markets: Trend filter essential (indices, crypto)
Range-Bound: Volume + FVG (avoid trend filter)
### Common Mistakes to Avoid
Chasing breakouts - wait for the bar to close, don't FOMO into wicks
Ignoring the stop loss - always use it, move it manually if needed
Over-leveraging - the calculator shows MAX shares, you can buy less
Trading every signal - quality > quantity, use filters
Not tracking results - keep a journal to see what works for YOU
## Pros and Cons
### Advantages
Complete all-in-one solution - from signal to position sizing
Multiple timeframes tracked simultaneously
Visual clarity - easy to see what's happening
Cycle tracking catches opportunities others miss
Built-in risk management eliminates guesswork
Customizable filters for different trading styles
No repainting - what you see is locked in
Works across multiple markets (stocks, forex, crypto)
### Limitations
Intraday strategy only - doesn't work on daily charts
Requires active monitoring during first 1-2 hours of session
Not suitable for after-hours or extended sessions by default
Can produce many signals in choppy markets (use filters)
Dashboard can be overwhelming for complete beginners
Performance depends on market conditions (trends vs ranges)
Requires understanding of risk management concepts
### Best For
Day traders who can watch the first 1-2 hours of market open
Traders who want systematic entry/exit rules
Those learning proper position sizing and risk management
Active traders comfortable with multiple signals per day
Anyone trading liquid instruments with clear sessions
### Not Ideal For
Swing traders holding multi-day positions
Set-and-forget / passive investors
Traders who can't watch market open
Complete beginners unfamiliar with trading concepts
Low volume / illiquid instruments
## Frequently Asked Questions
Q: Why are no signals appearing?
A: Check that you're on an intraday timeframe (5min, 15min, etc.) and that the current time is within your session hours. Also verify that "Enable Breakout Detection" is ON and at least one ORB stage is enabled. If using filters, they might be blocking signals - try disabling them temporarily.
Q: What's the best ORB stage to use?
A: ORB15 (15 minutes) is most popular and balanced. ORB5 gives faster signals but more noise. ORB30 and ORB60 are slower but more reliable. Many traders use ORB15 + ORB30 together.
Q: Should I enable all the filters?
A: Start with no filters to see all signals. If too many false signals, add Volume filter first (stocks) or Trend filter (trending markets). FVG filter is most restrictive - use for maximum quality but fewer signals.
Q: How do I know which stop loss method to use?
A: ATR works for most cases - it adapts to volatility. Use ORB% if you want predictable stop placement. Swing is for respecting chart structure. Safer gives you the most room but largest risk.
Q: Can I use this for swing trading?
A: Not really - ORB is fundamentally an intraday strategy. The ranges reset each day. For swing trading, look at weekly support/resistance or moving averages instead.
Q: Why do TP/SL lines disappear sometimes?
A: Lines freeze (stop extending) when: stop loss is hit, the last enabled take-profit is hit, or end of session arrives (if "Freeze at EOD" is enabled). This is intentional - the trade is complete.
Q: What's the difference between "First Only" and "Track Cycles"?
A: "First Only" shows one breakout UP and one DOWN per day maximum - clean but might miss opportunities. "Track Cycles" shows breakout-retest-rebreak sequences - more signals but busier chart.
Q: Is position sizing accurate for options/forex?
A: The calculator is designed for shares (stocks). For options, ignore the share count and use the risk amount. For forex, you'll need to adapt the lot size calculation manually.
Q: How much capital do I need to use this?
A: The indicator works for any account size, but practical day trading typically requires $25,000 in the US due to Pattern Day Trader rules. Adjust the "Account Size" setting to match your capital.
Q: Can I backtest this strategy?
A: This is an indicator, not a strategy script, so it doesn't have built-in backtesting. You can visually review historical signals or code a strategy script using similar logic.
Q: Why does the dashboard show different entry price than the breakout label?
A: If you're looking at an old breakout, the ORB levels may have changed when the next stage completed. The dashboard always shows the CURRENT active range and trade setup.
Q: What's a good win rate to expect?
A: ORB strategies typically see 40-60% win rate depending on market conditions and filters used. The strategy relies on positive risk/reward ratios (2:1 or better) to be profitable even with moderate win rates.
Q: Does this work on crypto?
A: Yes, but crypto trades 24/7 so you need to define what "session start" means. Use Session Mode = Custom and set your preferred daily reset time (e.g., 0000-2359 UTC).
## Credits & Transparency
### Development
This indicator was developed with the assistance of AI technology to implement complex ORB trading logic.
The strategy concept, feature specifications, and trading logic were designed by the publisher. The implementation leverages modern development tools to ensure:
Clean, efficient, and maintainable code
Comprehensive error handling and input validation
Detailed documentation and user guidance
Performance optimization
### Trading Concepts
This indicator implements several public domain trading concepts:
Opening Range Breakout (ORB): Trading strategy popularized by Toby Crabel, Mark Fisher and many more talanted traders.
Fair Value Gap (FVG): Price imbalance concept from ICT methodology
SuperTrend: ATR-based trend indicator using public formula
Risk/Reward Ratio: Standard risk management principle
All mathematical formulas and technical concepts used are in the public domain.
### Pine Script
Uses standard TradingView built-in functions:
ta.ema(), ta.atr(), ta.vwap(), ta.highest(), ta.lowest(), request.security()
No external libraries or proprietary code from other authors.
## Disclaimer
This indicator is provided for educational and informational purposes only. It is not financial advice.
Trading involves substantial risk of loss and is not suitable for every investor. Past performance shown in examples is not indicative of future results.
The indicator provides signals and calculations, but trading decisions are solely your responsibility. Always:
Test strategies on paper before using real money
Never risk more than you can afford to lose
Understand that all trading involves risk
Consider seeking advice from a licensed financial advisor
The publisher makes no guarantees regarding accuracy, profitability, or performance. Use at your own risk.
---
Version: 3.0
Pine Script Version: v6
Last Updated: October 2024
For support, questions, or suggestions, please comment below or send a private message.
---
Happy trading, and remember: consistent risk management beats perfect entry timing every time.
Buyer vs Seller ControlBuyer vs Seller Control Analysis
Technical indicator measuring market participation through candlestick wick analysis
Overview:
This indicator analyzes the relationship between closing prices and candlestick wicks to measure buying and selling pressure. It calculates two key metrics and displays their moving averages to help identify market sentiment shifts.
Calculation Method:
The indicator measures two distinct values for each candle:
Buyer Control Value: Distance from candle low to closing price (close - low)
Seller Control Value: Distance from candle high to closing price (high - close)
Both values are then smoothed using a Simple Moving Average (default period: 20) to reduce noise and show clearer trends.
Visual Components:
Lime Line: 20-period SMA of buyer control values
Fuchsia Line: 20-period SMA of seller control values
Area Fill: Colored region between the two lines
Histogram: Difference between buyer and seller control SMAs
Zero Reference Line: Horizontal line at zero level
Information Table: Current numerical values (optional display)
Interpretation:
When the lime line (buyer control) is above the fuchsia line (seller control), it indicates that recent candles have been closing closer to their highs than to their lows on average.
When the fuchsia line is above the lime line, recent candles have been closing closer to their lows than to their highs on average.
Fill Color Logic:
Lime (green) fill appears when buyer control SMA > seller control SMA
Fuchsia (red) fill appears when seller control SMA > buyer control SMA
Fill transparency adjusts based on the magnitude of difference between the two SMAs
Stronger differences result in more opaque fills
Settings:
Moving Average Period: Adjustable from 1-200 periods (default: 20)
Show Info Table: Toggle to display/hide the numerical values table
Technical Notes:
The indicator works on any timeframe
Values are displayed in the same units as the underlying asset's price
The histogram shows the mathematical difference between the two SMA lines
Transparency calculation uses a 50-period lookback for dynamic scaling
This indicator provides a quantitative approach to analyzing candlestick patterns by focusing on where prices close relative to their intraday ranges.
Fractals + FVG [Combined]Звісно, ось варіант опису англійською, який можна використати для публікації індикатора в TradingView.
Description
This script combines two powerful and widely-used trading concepts into a single, comprehensive indicator: Bill Williams Fractals with dynamic support/resistance lines and Fair Value Gaps (FVG) based on the popular logic from LuxAlgo.
The goal is to provide a cleaner chart by merging two essential tools, allowing traders to analyze market structure and imbalances simultaneously.
Features
1. Williams Fractals with Invalidation Lines
This part of the indicator identifies classic Bill Williams fractals and enhances them with a unique visualization feature.
Fractal Detection: Automatically identifies both bullish (bottom) and bearish (top) fractals. You can choose between a 3-bar or 5-bar pattern in the settings.
Dynamic S/R Lines: A horizontal line is automatically drawn from every confirmed fractal, acting as a potential support or resistance level.
Automatic Invalidation: A line is considered "invalidated" or breached when the body of a candle closes past it. When this happens, the line stops extending, changes its color to the "invalidated" color, and remains on the chart as a historical reference. This provides a clear, objective signal that a level has been broken.
Customization: You can fully customize the colors for the support, resistance, and invalidated lines to match your chart theme.
2. Fair Value Gaps (FVG) / Imbalance
This module incorporates the robust FVG detection logic from LuxAlgo to automatically identify and display market imbalances.
FVG Detection: Highlights bullish and bearish Fair Value Gaps on the chart with colored boxes, representing inefficiencies in price delivery.
Automatic Mitigation: The FVG boxes are automatically removed from the chart once the price has "mitigated" or filled the gap, keeping your workspace clean and focused on active imbalances.
Multi-Timeframe (MTF): You can set the indicator to find and display FVGs from a higher timeframe directly on your current chart.
Dashboard: An optional on-screen dashboard provides a quick summary of the total count of bullish/bearish FVGs and the percentage that have been mitigated.
Full Customization: Control the colors of FVG boxes, extend their length, and configure other visual style settings.
How to Use
Fractal Lines: Use the active support and resistance lines as key levels for potential bounces or breaks. A line's invalidation can serve as confirmation of a shift in market structure.
FVG Zones: Fair Value Gaps often act as "magnets" for price. Use these zones as potential targets for your trades or as areas of interest for entries when price retraces to fill the imbalance.
Combined Strategy: The true power of this indicator comes from combining both concepts. For example, a bullish FVG forming near a key fractal support level can create a high-probability confluence zone for a long entry. Similarly, a break and invalidation of a fractal resistance line might signal that price is heading towards the next bearish FVG above.
This indicator is a tool for analysis and should be used in conjunction with your own trading strategy and risk management rules.
Enhanced 4H Candle Countdown & High/Low IndicatorBy profitgang
This Pine Script indicator provides real-time tracking of 4-hour timeframe levels with an integrated countdown timer, designed to help traders monitor key support and resistance zones.
Key Features
📊 Visual Elements
4H High/Low Lines: Clear visualization of previous 4-hour candle high and low levels
Range Fill: Subtle background fill between high and low for better context
Mid-Level Line: Shows the middle point of the 4H range
Position Indicator: Visual cue showing current price position within the range
⏰ Countdown Timer
Real-time countdown to next 4H candle close
Customizable table position (9 different locations)
Adjustable text size (6 size options from Tiny to Huge)
Distance calculations showing percentage distance from key levels
🎯 Signal Generation
Long signals when price crosses above 4H low
Short signals when price crosses below 4H high
RSI confluence filter to reduce false signals
Background highlighting for active signals
TradingView alerts compatible
⚙️ Customization Options
Toggle all features on/off independently
Custom colors for all elements
Table positioning (top/middle/bottom + left/center/right)
Text size selection for optimal readability
Alert notifications for level breaks and updates
How It Works
The indicator fetches the previous 4-hour candle's high and low values and displays them as horizontal lines on your current timeframe chart. It continuously calculates the time remaining until the current 4H candle closes and presents this information in a clean, customizable table.
Use Cases
Swing Trading: Identify key 4H support and resistance levels
Intraday Trading: Monitor when new 4H levels will be established
Risk Management: Calculate distance from key levels for position sizing
Multi-timeframe Analysis: Combine with lower timeframe setups
Educational Purpose
This indicator is designed for educational and analytical purposes to help traders understand price action relative to higher timeframe levels. It provides clear visual feedback about market structure and timing.
Settings Groups
Display Settings: Toggle features, positioning, and sizing
Colors: Customize all visual elements
Signal Settings: Configure alert conditions and confluence filters
Compatibility
Works on all timeframes (recommended for 1m to 1H charts)
Compatible with all instruments
Includes proper alert functionality for automated notifications
Optimized for both light and dark themes
This indicator does not provide financial advice. Always conduct your own research and risk management before making trading decisions.
MTF Candles [Fadi x MMT]MTF Candles
Overview
The MTF Candles indicator is a powerful tool designed for traders who want to visualize higher timeframe (HTF) candles directly on their current chart. Built with flexibility and precision in mind, this Pine Script indicator displays up to six higher timeframe candles, complete with customizable styling, sweeps, midpoints, fair value gaps (FVGs), volume imbalances, and trace lines. It’s perfect for multi-timeframe analysis, helping traders identify key levels, market structure, and potential trading opportunities with ease.
Key Features
- Multi-Timeframe Candles : Display up to six higher timeframe candles (e.g., 5m, 15m, 30m, 4H, 1D, 1W) on your chart, with configurable timeframes and visibility.
- Sweeps Detection : Identify liquidity sweeps (highs/lows) with customizable line styles, widths, and colors, plus optional alerts for confirmed bullish or bearish sweeps.
- Midpoint Lines : Plot the midpoint (average of high and low) of the previous HTF candle, with customizable color, width, and style for enhanced market analysis.
- Fair Value Gaps (FVGs) : Highlight gaps between non-adjacent candles, indicating potential areas of interest for price action.
- Volume Imbalances : Detect and display volume imbalances between adjacent candles, aiding in spotting significant price levels.
- Trace Lines : Connect HTF candle open, close, high, and low prices to their respective chart bars, with customizable styles and optional price labels.
- Custom Daily Open Times : Support for custom daily candle open times (Midnight, 8:30, or 9:30) to align with specific market sessions.
- Dynamic Labels : Show timeframe names, remaining time until the next HTF candle, and interval labels (e.g., day of the week for daily candles) with adjustable positions and sizes.
- Highly Customizable : Fine-tune candle appearance, spacing, padding, and visual elements to suit your trading style.
How It Works
The indicator renders HTF candles as boxes (bodies) and lines (wicks) on the right side of the chart, with each timeframe offset for clarity. It dynamically updates candles in real-time, tracks their highs and lows, and displays sweeps and midpoints when conditions are met. FVGs and volume imbalances are calculated based on candle relationships, and trace lines link HTF candle levels to their originating bars on the chart.
Sweep Logic
- A bearish sweep occurs when the current candle’s high exceeds the previous candle’s high, but the close is below it.
- A bullish sweep occurs when the current candle’s low falls below the previous candle’s low, but the close is above it.
- Sweeps are visualized as horizontal lines and can trigger alerts when confirmed on the next candle.
Midpoint Logic
- A midpoint line is drawn at the average of the previous HTF candle’s high and low, extending until the next HTF candle forms.
- Useful for identifying potential support/resistance or mean reversion levels.
Imbalance Detection
- FVGs : Identified when a candle’s low is above the next-but-one candle’s high (or vice versa), indicating a price gap.
- Volume Imbalances : Detected between adjacent candles where the body of one candle doesn’t overlap with the next, signaling potential liquidity zones.
Settings
Timeframe Settings
- HTF 1–6 : Enable/disable up to six higher timeframes (default: 5m, 15m, 30m, 4H, 1D, 1W) and set the maximum number of candles to display per timeframe (default: 4).
- Limit to Next HTFs : Restrict the number of active timeframes (1–6).
Styling
- Body, Border, Wick Colors : Customize bull and bear candle colors (default: light gray for bulls, dark gray for bears).
- Candle Width : Adjust the width of HTF candles (1–4).
- Padding and Spacing : Set the offset from the current price action and spacing between candles and timeframes.
Label Settings
- HTF Label : Show/hide timeframe labels (e.g., "15m", "4H") at the top/bottom of candle sets.
- Remaining Time : Display the countdown to the next HTF candle.
Interval Value: Show day of the week for daily candles or time for intraday candles.
- Label Position/Alignment : Choose to display labels at the top, bottom, or both, and align them with the highest/lowest candles or follow individual candle sets.
Imbalance Settings
- Fair Value Gap : Enable/disable FVGs with customizable color (default: semi-transparent gray).
- Volume Imbalance : Enable/disable volume imbalances with customizable color (default: semi-transparent red).
Trace Settings
- Trace Lines : Enable/disable lines connecting HTF candle levels to their chart bars, with customizable colors, styles (solid, dashed, dotted), and sizes.
- Price Labels : Show price levels for open, close, high, and low trace lines.
- Anchor : Choose whether trace lines anchor to the first or last enabled timeframe.
Sweep Settings
- Show Sweeps : Enable/disable sweep detection and visualization.
- Sweep Line : Customize color, width, and style (solid, dashed, dotted).
- Sweep Alert : Enable alerts for confirmed sweeps.
Midpoint Settings
- Show Midpoint : Enable/disable midpoint lines.
- Midpoint Line : Customize color (default: orange), width, and style (solid, dashed, dotted).
Custom Daily Open
Custom Daily Candle Open : Choose between Midnight, 8:30, or 9:30 (America/New_York) for daily candle opens.
Usage
- Add the indicator to your TradingView chart.
- Configure the desired higher timeframes (HTF 1–6) and enable/disable features via the settings panel.
- Adjust styling, labels, and spacing to match your chart preferences.
Use sweeps, midpoints, FVGs, and volume imbalances to identify key levels for trading decisions.
- Enable sweep alerts to receive notifications for confirmed liquidity sweeps.
Notes
Performance: The indicator is optimized for up to 500 boxes, lines, and labels, with a maximum of 5000 bars back. Can be slow at a time
Time Zone: Custom daily opens use the America/New_York time zone for consistency with major financial markets.
Compatibility: Ensure selected HTFs are valid (higher than the chart’s timeframe and divisible by it for intraday periods).
