ICT Dealing RangeICT Dealing Range
This indicator identifies and plots ICT (Inner Circle Trader) Dealing Ranges - key institutional areas where smart money accumulates or distributes positions before significant moves.
What is a Dealing Range?
A Dealing Range is a significant price area where institutional traders accumulate or distribute their positions. These ranges form through a specific sequence of price movements that indicate institutional order flow:
Bullish Dealing Range Sequence:
1. Initial High (H)
2. Initial Low (L)
3. Higher High (HH)
4. Lower Low (LL)
5. Break above HH (confirmation)
Bearish Dealing Range Sequence:
1. Initial Low (L)
2. Initial High (H)
3. Lower Low (LL)
4. Higher High (HH)
5. Break below LL (confirmation)
My Trading Strategy
Entry Methods:
1. Range Extreme Retests:
- After range formation, wait for price to return to either extreme
- Long entries at range bottom with stops below
- Short entries at range top with stops above
2. Mid-Line Strategy:
- Use the mid-line as a pivot point for reversals
- Long entries on mid-line bounce with stops below
- Short entries on mid-line rejection with stops above
Stop Loss Placement:
- When entering at extremes: Place stops beyond the mid
- When entering at mid-line: Place stops beyond the opposing extreme
- Always respect the structure's boundaries
Take Profit Targets:
- Minimum 2:1 Risk-Reward ratio
- For extreme entries: Target the opposite extreme
- For mid-line entries: Target the nearest extreme
Risk Management
- Never enter without a clear invalidation point
- Maintain minimum 2:1 RR ratio
- Consider market structure and higher timeframe context
Indicator Features
- Auto-detection of dealing range patterns
- Color-coded boxes (green for bullish, red for bearish)
- Optional mid-line display
- Customizable colors and styles
- Adjustable pivot lookback periods
Notes
This tool is based on ICT concepts but should be used in conjunction with other forms of analysis. The dealing range provides a framework for understanding institutional order flow, but proper risk management and market context are essential for successful trading.
Remember: The best trades often come from clean retests of these ranges after their initial formation. Patience in waiting for proper setups is key to successful implementation.
Cerca negli script per "range"
[F][IND] - Time Range HighlighterDescription:
Introducing the Time Range Highlighter script for TradingView – a precision tool designed to enhance your chart analysis experience with a focus on simplicity and functionality. This script caters to traders who find value in isolating specific time intervals for a more detailed market study, akin to the concept of trading "macros".
Key Features:
1. Effortless Customization:
Define and highlight your preferred time ranges effortlessly. Tailor the script to align with your trading strategy by setting specific start and end times for enhanced precision.
2. Multi-Interval Support:
Seamlessly analyze multiple time ranges concurrently. Toggle between highlighted intervals with ease, allowing for a comprehensive examination of various market conditions without cluttering your chart.
3. Enable/Disable On-Demand:
Maintain control over the clutter on your chart. The enable/disable feature lets you activate or deactivate the highlighted time ranges at your discretion, ensuring a clean and unobstructed view when needed.
4. Focused Chart Analysis:
By visually emphasizing chosen time intervals, the script facilitates a focused analysis of critical market movements, enabling traders to identify patterns and trends with efficiency. This feature is particularly beneficial for those employing trading "macros" to filter out noise and concentrate on key periods.
Usage Instructions:
1. Apply the Time Range Highlighter script to your TradingView chart.
2. Customize the script settings to define specific time ranges tailored to your trading preferences.
3. Toggle between enabled and disabled states as needed to maintain clarity on your chart.
4. Leverage the script to streamline your chart analysis process and make more informed trading decisions, especially when employing trading "macros" to focus on specific market intervals.
Disclaimer:
This indicator is provided for educational purposes only. Trading involves risk, and users should consult with a financial professional before making any trading decisions.
Your Feedback Matters!
Please feel free to comment or reach out if you have any improvement suggestions or if you would like to request the development of a specific indicator. Your feedback is invaluable!
Linear Regression ++Due to public demand
Linear Regression Formula
Scraped Calculation With Alerts
Here is the Linear Regression Script For traders Who love rich features
Features
++ Multi time frame -> Source Regression from a different Chart
++ Customized Colors -> This includes the pine lines
++ Smoothing -> Allow Filtered Regression; Note: Using 1 Defaults to the original line. The default is 1
++ Alerts On Channel/Range Crossing
Usage
++ Use this for BreakOuts and Reversals
++ This Script is not to be used Independently
Risks
Please note, this script is the likes of Bollinger bands and poses a risk of falling in a trend range.
Signals may Keep running on the same direction while the market is reversing.
Requests
If you have any feature requests, comment below or dm me. I will answer when i can.
Feel free to utilize this on your chart and share your ideas
For developers who want to use this on their chart, Please use this script
The original formula for calculation is posted there
❤❤❤ I hope you love this. From my heart! ❤❤❤
Traded Range & True ATRBlack line = Trade Range from the last X periods.
Red Line = 61.8% of black line value.
Green bar = The current trade period range.
Default Value = 21 (21 days = I business month)
Generally speaking, a stock moves approximately the same value daily. Knowing the approximate value it likes to stay within calms the nerves when you see retracement of price occuring.
IE. Price average = 1.00 in a day. It move .75 within first hour then retraces in the opposite direction. There are still hours left in the trade day, so it is trading in its value range in order to not over extend itself.
This differs in calculation from the Wells Wilder version as it smooths out jumps and only examines the ranges between high and low.
A good rule of thumb is.
Stop Loss = Entry Price +/- (ATR * 1.5)
Take Profit = (1) Entry Price +/- ATR - 50% exit (Set Trailing Stop @ Entry Value), (2) Entry Price +/- ATR * 2 (50% of remaining).
Dealing rangeHi all!
This indicator will show you the current dealing range. The concept of dealing range comes from the inner circle trader (ICT) and gives you a range between an established swing high and an established swing low (the length of these pivots can be changed in settings parameter Length and defaults to 5/2 (left/right)). These swing points must have taken out liquidity to be considered "established". The liquidity that must be grabbed by the swing point has to be a pivot of left length of 1 and a right length of 1.
The dealing range that's created should be used in conjunction with market structure. This could be done through scripts (maybe the Market structure script that I published ()) or manually. It's a common approach to look for long opportunities when the trend is bullish and price is currently in the discount zone of the dealing range. If the trend is bearish then short opportunities are presented when the price is currently in the premium zone of the dealing range.
The zones within the dealing range are premium and discount that are split on the 50% level of the dealing range. These zones can be split into 3 zone with a Fair price (also called Fair value ) zone in between premium and discount. This makes the premium zone to be in the upper third of the dealing range, fair price in the middle third and discount in the lower third. This can be enabled in the settings through the Fair price parameter.
Enabled:
You can choose to enable/disable the visualisation of liquidity grabs and the External liquidity available above and below the swing points that created the dealing range.
Enabled:
Disabled:
Enabled on a higher timeframe (will display a box of the liquidity grab price instead of a label):
This dealing range is configurable to be created by a higher timeframe then the visible charts. Use the setting Higher timeframe to change this.
You can force candles to be closed (for liquidity and swing points). Please note that if you use a higher timeframe then the visible charts the candles must be closed on this timeframe.
Lastly you can also change the transparency of liquidity grabs and external liquidity outside of the dealing range. Use the Transparency setting to change this (a lower value will lead to stronger visuals).
If you have any input or suggestions on future features or bugs, don't hesitate to let me know!
Best of trading luck!
IU Bigger than range strategyDESCRIPTION
IU Bigger Than Range Strategy is designed to capture breakout opportunities by identifying candles that are significantly larger than the previous range. It dynamically calculates the high and low of the last N candles and enters trades when the current candle's range exceeds the previous range. The strategy includes multiple stop-loss methods (Previous High/Low, ATR, Swing High/Low) and automatically manages take-profit and stop-loss levels based on user-defined risk-to-reward ratios. This versatile strategy is optimized for higher timeframes and assets like BTC but can be fine-tuned for different instruments and intervals.
USER INPUTS:
Look back Length: Number of candles to calculate the high-low range. Default is 22.
Risk to Reward: Sets the target reward relative to the stop-loss distance. Default is 3.
Stop Loss Method: Choose between:(Default is "Previous High/Low")
- Previous High/Low
- ATR (Average True Range)
- Swing High/Low
ATR Length: Defines the length for ATR calculation (only applicable when ATR is selected as the stop-loss method) (Default is 14).
ATR Factor: Multiplier applied to the ATR to determine stop-loss distance(Default is 2).
Swing High/Low Length: Specifies the length for identifying swing points (only applicable when Swing High/Low is selected as the stop-loss method).(Default is 2)
LONG CONDITION:
The current candle’s range (absolute difference between open and close) is greater than the previous range.
The closing price is higher than the opening price (bullish candle).
SHORT CONDITIONS:
The current candle’s range exceeds the previous range.
The closing price is lower than the opening price (bearish candle).
LONG EXIT:
Stop-loss:
- Previous Low
- ATR-based trailing stop
- Recent Swing Low
Take-profit:
- Defined by the Risk-to-Reward ratio (default 3x the stop-loss distance).
SHORT EXIT:
Stop-loss:
- Previous High
- ATR-based trailing stop
- Recent Swing High
Take-profit:
- Defined by the Risk-to-Reward ratio (default 3x the stop-loss distance).
ALERTS:
Long Entry Triggered
Short Entry Triggered
WHY IT IS UNIQUE:
This strategy dynamically adapts to different market conditions by identifying candles that exceed the previous range, ensuring that it only enters trades during strong breakout scenarios.
Multiple stop-loss methods provide flexibility for different trading styles and risk profiles.
The visual representation of stop-loss and take-profit levels with color-coded plots improves trade monitoring and decision-making.
HOW USERS CAN BENEFIT FROM IT:
Ideal for breakout traders looking to capitalize on momentum-driven price moves.
Provides flexibility to customize stop-loss methods and fine-tune risk management parameters.
Helps minimize drawdowns with a strong risk-to-reward framework while maximizing profit potential.
BTIC Range MidpointsThis code analyzes and displays price ranges from 15:15-15:44 ET, the Basis Trade at Index Close session.
It draws horizontal lines showing:
The high of each session
The low of each session
The midpoint (50%) of each session
Connections between different session ranges (50% points between highs and lows)
Key features include:
Works only on 15-minute timeframes or lower
Stores up to 20 days of historical sessions (configurable)
Filters out ranges too far from current price
Color-codes different session ranges
Provides customizable line styles and colors
Labels each range with identifiers
The indicator essentially helps traders identify important price levels from BTIC sessions, which could serve as potential support/resistance areas for future price action.
Midnight Range Standard DeviationsCredit to Lex Fx for the basic framework of this script
This indicator is designed to assist traders in identifying potential trading opportunities based on the Intraday Concurrency Technique (ICT) concepts, specifically the midnight range deviations and their relationship to Fibonacci levels. It builds upon the work of Lex-FX, whom we gratefully acknowledge for the original concept and inspiration for this indicator.
Core Concept: ICT Midnight Range
The core of this indicator revolves around the concept of the midnight range. According to ICT, the high and low formed in a specific time window (typically the first 30 minutes after midnight, New York Time) can serve as a key reference point for intraday price action. The indicator identifies this range and projects potential support and resistance levels based on deviations from this range, combined with Fibonacci ratios.
How ICT Uses Midnight Range Deviations
ICT methodology often involves looking for price to move away from the initial midnight range, then return to it, or deviate beyond it, as key areas for potential entries.
Range Identification: The indicator automatically identifies the high and low of the midnight range (00:00 - 00:30 NY Time).
Deviation Levels: The indicator calculates and displays deviation levels based on multiples of the initial midnight range. These levels are often used to identify potential areas of support and resistance, as well as potential targets for price movement. These levels can be set in the additional fib levels section, which can be configured in increments of .5 deviations all the way up to 12 deviations.
Fibonacci Confluence: ICT often emphasizes the confluence of multiple factors. This indicator adds Fibonacci levels to the midnight range deviations. This allows traders to identify areas where Fibonacci retracements or extensions align with the deviation levels, potentially creating stronger areas of support or resistance.
Looking for Sweeps: ICT often uses these levels to look for times that the high and low are swept as potential areas of liquidity, indicating the start of potential continuations.
Time-Based Analysis: The time at which price interacts with these levels can also be significant in ICT. The indicator provides options to extend the range lines to specific times (e.g., 3 hours, 6 hours, 10 hours, 12 hours, or a custom defined time) after midnight, allowing traders to focus on specific periods of the trading day.
Indicator Settings Explained:
Time Zone (TZ): Defines the time zone used for calculating the midnight range. The default is "America/New_York".
Range High Color, Range Low Color, Range Mid Color: Customize the colors of the high, low, and mid-range lines.
Range Fill Color: Sets the fill color for the area between the range high and low.
Line Style: Choose the style of the range lines (solid, dashed, dotted).
Range Line Thickness: Adjust the thickness of the range lines for better visibility.
Show Fibonacci Levels: Enable or disable the display of Fibonacci deviation levels.
Fib Up Color, Fib Down Color: Customize the colors of the Fibonacci levels above (up) and below (down) the midnight range.
Show Trendline: Enables a trendline that plots the close price, colored according to whether the price is above the high, below the low, or within the midnight range.
Show Range Lines, Show Range Labels: Toggles the visibility of the range lines and their associated labels.
Label Size: Adjust the size of the labels for better readability.
Hide Prices: Option to display only the deviation values on labels, hiding price values.
Place Fibonacci Labels on Left Side: Option to switch label position from right side to left side.
Extend Range To (Hours from Midnight): This section gives you a wide variety of options on how far you want to extend the range to, you can do 3,6,10,12, and 23 hours. Alternatively, you can select the "Use Custom Length" and set a specific time in hours.
Additional Fib Levels: This section allows the trader to set additional deviation points in increments of .5 deviations from .5 all the way up to 12 deviations
TradingView Community Guidelines Compliance:
This indicator description adheres to the TradingView community guidelines by:
Being educational: It explains the ICT methodology and how the indicator can be used in trading.
Being transparent: It clearly describes all the indicator's settings and their purpose.
Providing credit: It acknowledges Lex-FX as the original author of the concept.
Avoiding misleading claims: It does not guarantee profits or imply that the indicator is a "holy grail."
Disclaimer: Usage of this indicator and the information provided is at your own risk. The author is not responsible for any losses incurred as a result of using this indicator.
Important Considerations:
This indicator is intended for educational purposes and to assist in applying the ICT methodology.
It should not be used as a standalone trading system.
Always combine this indicator with other forms of technical analysis and risk management techniques.
Backtest thoroughly on your chosen market and timeframe before using in live trading.
Trading involves risk. Only trade with capital you can afford to lose.
ICT Balance Price Range [UAlgo]The "ICT Balance Price Range " indicator identifies and visualizes potential balance price ranges (BPRs) on a price chart. These ranges are indicative of periods where the market exhibits balance between bullish and bearish forces, often preceding significant price movements.
🔶 What is Balanced Price Range (BPR) ?
Balanced Price Range is a concept based on Fair Value Gap. Balanced price range (BPR) is the area on price chart where two opposite fair value gaps overlap.
When price approaches the Balanced Price Range (BPR), we assume that the price will react quickly and strongly here. This is because its the combination of two fair value gaps and being a good point of interest for smart money traders.
🔶 Key Features:
Bars to Consider: Determines the number of bars to evaluate for BPR conditions.
Threshold for BPR: Sets the minimum range required for a valid BPR to be identified.
Remove Old BPR: Option to automatically remove invalidated BPRs from the chart.
Bearish/Bullish Box Color: Customizable colors for visual representation of bearish and bullish BPRs.
🔶 Disclaimer
This indicator is provided for educational and informational purposes only.
It should not be considered as financial advice or a recommendation to buy or sell any financial instrument.
The use of this indicator involves inherent risks, and users should employ their own judgment and conduct their own research before making any trading decisions. Past performance is not indicative of future results.
🔷 Related Scripts
Fair Value Gaps (FVG)
Volatility Range Breakout Strategy [wbburgin]The "Volatility Range Breakout Strategy" uses deviations of high-low volatility to determine bullish and bearish breakouts.
HOW IT WORKS
The volatility function uses the high-low range of a lookback period, divided by the average of that range, to determine the likelihood that price will break in a specific direction.
High and low ranges are determined by the relative volatility compared to the current closing price. The high range, for example, is the (volatility * close) added to the close, the low range is this value subtracted by the close.
A volatility-weighted moving average is taken of these high and low ranges to form high and low bands.
Finally, breakouts are identified once the price closes above or below these bands. An upwards breakout (bullish) occurs when the price breaks above the upper band, while a downwards breakout (bearish) occurs when the price breaks below the lower band. Positions can be closed either by when the price falls out of its current band ("Range Crossover" in settings under 'Exit Type') or when the price falls below or above the volatility MA (default because this allows us to catch trends for longer).
INPUTS/SETTINGS
The AVERAGE LENGTH is the period for the volatility MA and the weighted volatility bands.
The VOLATILITY LENGTH is how far the lookback should be for highs/lows for the volatility calculation.
Enjoy! Let me know if you have any questions.
Zazzamira 50-25-25 Trend System Alerts OnlyPublishing my trading system script. It consist of several conditions to happen in order to open a trade. Work best on ES/MES 5 minute timeframe.
I like to use it with this settings:
- UTC -6 (don't tick Exchange Timezone)
and rest as default
To enter a trade, the following conditions must be met: Entry 1: the opening range (8:30AM - 9:15AM UTC-6) must be defined and the price must close above or below the opening range on the 5-minute timeframe. This entry condition defines the trade direction (above = long / below = short). Once the opening range is defined, the Trend-Based Fib Extension is applied from the range high to the range low (and vice versa). Fib levels are required for Exit conditions. Entry 2: the 8 - 27 - 67 - 97 EMAs must be defined. If the EMAs value order is 8 > 27 > 67 > 97, long-only trades are allowed. If the EMAs value order is 8 < 27 < 67 < 97, short-only trades are allowed. This entry condition filters fake breakouts of Entry 1. Entry 3: no trades are allowed after 12:59 UTC-6 (2PM EST). Entry 4: if Entry 1, Entry 2, and Entry 3 conditions are valid and the price hasn't reached the 23.6% Fib line, an entry order can be set at the range high/long with 4 contracts. To exit a trade, the following conditions must be met: Exit 1 (Stop loss): set a trailing stop based on 2.1x ATR (14) from entry. Exit 2: take 50% profits at the 23.6% Fib and leave trailing stop untouched. Exit 3: if Exit 2 triggers, take 50% (25% of total entry) off at 61.8% Fib, leaving Exit 2 trailing stop values valid. Exit 4: exit the full position at the FIB 100% value. Exit 5: all trades must be closed at 3pm UTC-6 (4PM EST). So basically Take Profit are 50%-25%-25% of position.
Code has been written by © Hiubris_Indicators who has been an amazing coder and gave me the possibility to make this script public so a really big shoutout to him.
This indicator only works for alerts, please check version without alerts to backtest or tweaks. This indicator is meant to be used to automate the system via webhooks
Rescaled RangeRescaled Range is an implementation of the fractal rescaled ranges developed by Harold Edwin Hurst and Benoit Mandlebrot.
Settings include:
“Window Size” - the number of time periods in a window over which price changes are analyzed. This will generally correspond to your trading horizon and defaults to 15.
“Number of Windows” - the number of “Window Size” intervals to average the rescaled range value over. By looking at a number of such periods, the study captures potential volatility that may have occurred in the recent past. This should be set long enough to capture the current trend (defaults to 63), but not so long to include volatility regimes no longer in play.
Each window in the average is offset by 1 time period from the the others - like a moving average.
This study plots two lines - “Rescaled Range High” which indicates overbought conditions when the price moves above it and “Rescaled Range Low” which indicates oversold conditions when the price moves below it.
This study builds upon the bridge range work of Joe Catanzaro (joecat808) and Caleb Sandfort (calebsandfort). Bridge ranges are used to position the rescaled range with respect to the closing price.
Note: Your time series must have (Window Size + Number of Windows) or more periods of data to complete this study. For example, using the defaults, your time series should have (15+63) = 78 periods or more of data.
Expected Range and SkewThis is an open source and updated version of my previous "Confidence Interval" script. This script provides you with the expected range over a given time period in the future and the skew of that range. For example, if you wanted to know the expected 1 standard deviation range of MSFT over the next 20 days, this will tell you that. Additionally, this script will also tell you the skew of the expected range.
How to use this script:
1) Enter the length, this will determine the number of data points used in the calculation of the expected range.
2) Enter the amount of time you want projected forward in minutes, hours, and days.
3) Input standard deviation of the expected range.
4) Pick the type of data you want shown from the dropdown menu. Your choices are either the expected range or the skew of the expected range.
5) Enter the x and y coordinates of the label (optional). This is useful so it doesn't impede your view of the plot.
Here are a few notes about this script:
First, the expected range line gives you the width of said range (upper bound - lower bound), and the label will tell you specifically what the upper and lower bounds of the expected range are.
Second, this script will work on any of the default timeframes, but you need to be careful with how far out you try to project the expected range depending on the timeframe you're using. For example, if you're using the 1min timeframe, it probably won't do you any good trying to project the expected range over the next 20 days; or if you're using the daily timeframe it doesn't make sense to try to project the expected range for the next 5 hours. You can tell if the time horizon you're trying to project doesn't work well with the chart timeframe you're using if the current price is outside of either the upper or lower bounds provided in the label. If the current price is within the upper and lower bounds provided in the label, then the time horizon that you're projecting over is reasonable for the chart timeframe you're using.
Third, this script does not countdown automatically, so the time provided in the label will stay the same. For example, in the picture above, the expected range of Dow Futures over the next 23 days from January 12th, 2021 is calculated. But when tomorrow comes it won't count down to 22 days, instead it will show the range over the next 23 days from January 13th, 2021. So if you want the time horizon to change as time goes on you will have to update this yourself manually.
Lastly, if you try to set an alert on this script, you will get a warning about it possibly repainting. This is because of the label, not the plot itself. The label constantly updates itself, which triggers the warning. I tested setting alerts on this script both with and without the inclusion of the label, and without the label the repainting warning did not occur. So remember, if you set an alert on this script you will get a warning about it possibly repainting, but this is because of the label constantly updating, not the plot itself.
Average Daily Range ProjectionsCreates a trailing high and low projection based on the Average Daily Range.
Track the Session High and Low to determine the Daily Range.
Average the Daily Range by a fixed Period to create an Average Daily Range .
Track the Prior Daily Range .
Track the Current Daily Range .
Track the % of Range completion relative to the CDR & ADR(P).
From the Session Low, project an Average Daily Range High by adding the ADR.
From the Session High, project an Average Daily Range Low by subtracting the ADR.
When %R reaches 100% or greater, the ADR HI & LO will lock, showing the range break out or break down. As the Session High and Low create the Daily Range, observe the reaction of price as it reaches the limit of the expected daily range.
On strongly trending days, CDR is likely greater than PDR and ADR(P). Price can break away.
On ranging days, %R may fail to reach 100% and CDR may be lesser than PDR and ADR(P). Price can bounce around within the bounds of ADR HI & LO.
Unmitigated 50% of the RangeThis indicator is designed to display unmitigated 50% zones of price ranges within two swing (High and Low) points. The 50% level serves as a probable target for retracements before the price resumes its movement in the direction of the most recent swing. The underlying theory is that Price Action tends to correct unbalanced price zones by returning to 50% of the range.
The indicator identifies highs and lows utilizing the “Left Swing Sensitivity” setting, which detects the high/low points within the specified number of bars. It then ensures that the zone meets a minimum size requirement, configured via the “Minimum Leg Size” setting, to filter out smaller legs/zones that would not provide sufficient profit and loss opportunities for entries at 50% and take profit at the most recent swing point.
To prevent duplication of zones when the price is gradually moving up, an "Auto Adjust Levels" setting is available. Enabled by default, this feature automatically cleans up smaller zones, retaining only the primary zone between the most recent swing point and the outer swing.
Additionally, the indicator automatically removes mitigated zones where the price has returned to the 50% level, thus maintaining clean charts.
There are several visualization settings available, offering comprehensive control over what is displayed on the charts:
Control the color and style of the lines representing the 1, 0, and 50% levels.
Choose whether to display labels and if they should show the price at the rendered levels.
Optionally extend the lines/labels to the right for each level.
Market Open Range Breakaway v1.2Script Name: Market Open Range Breakaway 1.2
This TradingView script, "Market Open Range Breakaway," highlights the market's opening range for a user-selected day of the week. It calculates the high and low prices during a specified period after the market opens, plots these levels, and tracks the opening price. The script dynamically adjusts for time zones and only displays data during market hours on the chosen day, with optional background shading for the defined range period.
Purpose: Identifies and highlights the market's opening range for a selected day of the week.
Features: Calculates and plots the high, low, and open price during the market's opening range.
Configurable range duration (e.g., 15, 30, or 60 minutes).
Automatically adjusts for different time zones.
Displays levels only during market hours on the target day.
Optional background shading for the opening range.
Inputs: Target day of the week.
Opening range duration.
Use Case: Ideal for traders looking to analyze breakout levels or price movements around the opening range.
Multi-Timeframe RangeThe Multi-Timeframe Range Indicator is designed for traders looking to monitor key price levels across various timeframes (Daily, Weekly, Monthly, Quarterly, and Yearly) directly on their charts. This indicator draws boxes and mid-lines for each timeframe’s high, low, and midpoint, enabling users to visualize price ranges and assess potential areas of support and resistance more effectively.
Features:
Dynamic Range Boxes: Displays the high, low, and midpoint levels for each specified timeframe, with customizable colors for easy differentiation.
Visual Cues for Monday’s Levels: Highlights Monday’s high, low, and midpoint levels each week to support intraday trading setups and weekly trend analysis.
Multi-Timeframe Flexibility: Easily toggle between timeframes to view ranges from daily to yearly, making this indicator suitable for both short-term and long-term traders.
Ideal Use Cases:
Identify key support and resistance zones based on multiple timeframes.
Assess weekly and monthly trends using the Monday range levels.
Gain insights into market structure across various timeframes.
Advanced Technical Range and Expectancy Estimator [SS]Hello everyone,
This indicator is a from of momentum based probability modelling. It is derived from my own approaches to probability modelling but just simplified a bit.
How it works:
The indicator looks at various technical, including stochastics, RSI, MFI and Z-Score, to determine the likely sentiment. All of these, with the exception of Z-Score, are momentum based indicators and can alert us to likely sentiment. However, instead of us making the subjective determination ourselves as to whether the RSI or MFI or Stochastics are bullish, the indicator will look at previous instances of these occurrences, and tally the bullish and bearish follow throughs that happened. It will also calculate the average target price that was hit, under similar conditions, on the same timeframe.
The Z-Score is your "tie breaker". It is not a momentum based indicator and measures something a little different (the standard deviation and over-extension of the stock). For this reason, it provides an alternative assessment and tends to be a bit more reliable in times of low momentum.
Back-test Results:
The indicator back-tests itself over the previous 100 candles. I have limited it to 100 candles for pragmatic considerations (it has to back-test each technical individually and increasing the BT length will slow and potentially error out the indicator) as well as accuracy considerations.
One thing I have noticed in my years of trying to crack the code and develop probability models for tickers, is historical accuracy doesn't always matter because sentiment is always changing. You need to see what it has done over the most recent 100 to 200 candles.
There are two back-test windows, one for the price targets and the other for the sentiment accuracy. The most effective/most accurate will highlight green, the least effective/least accurate will highlight red:
In the image above, you can see that the most accurate predictor of sentiment is Z-Score, with a 90.32% accuracy rate over the past 100 candles.
The most accurate predictor of price is MFI, with a 60% (for bull targets) and 42% (for bear targets)accuracy rate.
Anchoring Points:
The indicator permits you to anchor by two points. The default setting is anchoring by previous candle. If you plan to use this as an oscillator, to see the current prediction for the current candle you are viewing, then you will need to leave this default setting. It will pull the data from the previous candle and give you the data for the current candle you are on.
If you are assess the likely sentiment for the next day after the day has closed off, you will want to anchor by current candle. This will take the current technicals that the day has closed off with and run the assessment for you.
Customizability
You can customize the technicals by source and length of assessment.
They are all defaulted to the traditional settings of these indicators, but if you want to customize your model to try and improve or enhance accuracy in one way or another, you are free and able to do so!
I do suggest leaving the defaults as they seem to work particular well :-).
Thresholds
Thresholds are the tolerance levels that we permit for our technical search range. If you want them to be exactly identical, then you can set it to 0. If you want it to be extremely similar, you can set it to 0.01. This will hone in on the ranges you are interest in and you can see how it affects your accuracy by reviewing the results in the back-test tables.
Keep Static Colour Option
I want to make a quick note on the "Keep Static Colour" option that is in your settings menu.
The primary table that shows you the probability and price targets change colours based on the accuracy of the assessment. This is so, if you are using a mobile device or smaller screen and can't have the back-test results open at the same time, you can see still which are the most reliable results. However, if you have the back-test tables open and you find these colour changes too distracted, you can toggle on the "Keep Static Colour" and it will resort the colour of the table to a solid white:
Show Technicals
The indicator can show you the current technical values if you are using it in place of an oscillator. Its less pivotal as its making the assessment for you, but just for your reference if you want to see what the current MFI, Z-Score or Stochastics etc. are, you have that option as well.
All Timeframes Permitted
You can view Weekly, Monthly, Hourly, 5 minute, 1 minute, its all supported!
That's the indicator in a nutshell.
Hope you enjoy and leave your questions below.
Safe trades everyone!
ADR % RangesThis indicator is designed to visually represent percentage lines from the open of the day. The % amount is determined by X amount of the last days to create an average...or Average Daily Range (ADR).
1. ADR Percentage Lines: The core function of the script is to apply lines to the chart that represent specific percentage changes from the daily open. It first calculates the average over X amount of days and then displays two lines that are 1/3rd of that average. One line goes above the other line goes below. The other two lines are the full "range" of the average. These lines can act as boundaries or targets to know how an asset has moved recently. *Past performance is not indicative of current or future results.
The calculation for ADR is:
Step 1. Calculate Today's Range = DailyHigh - DailyLow
Step 2. Store this average after the day has completed
Step 3. Sum all day's ranges
Step 4. Divide by total number of days
Step 5. Draw on chart
2. Customizable Inputs: Users have the flexibility to customize the script through various inputs. This includes the option to display lines only for the current trading day (`todayonly`), and to select which lines are displayed. The user can also opt to show a table the displays the total range of previous days and the average range of those previous days.
3. No Secondary Timeframe: The ADR is computed based on whatever timeframe the chart is and does not reference secondary periods. Therefore the script cannot be used on charts greater than daily.
This script is can be used by all traders for any market. The trader might have to adjust the "X" number of days back to compute a historical average. Maybe they only want to know the average over the past week (5 days) or maybe the past month (20 days).
Narrow Range StrategyNarrow Range Strategy :
INTRODUCTION :
This strategy is based on the Narrow Range Day concept, implying that low volatility will generate higher volatility in the days ahead. The strategy sends us buy and sell signals with well-defined profit targets. It's a medium/long-term strategy. There's also a money management method that allows us to reinvest part of the profits or reduce the size of orders in the event of substantial losses.
NARROW RANGE (NR) DAY :
A Narrow Range Day is a day in which price variations are included in those of a specific day some time before. The high and low of this specific day form the "reference range". In general, we compare these variations with those of 4 or 7 days ago. The mathematical formula for finding an NR4 is :
If low > low(4) and high < high(4) :
nr = true
This implies that the current low is greater than the low of 4 days ago, and the current high is smaller than the high of 4 days ago. So today's volatility is lower than that of 4 days ago, and may be a sign of high volatility to come.
PARAMETERS :
Narrow Range Length : Corresponds to the number of candles back to compare current volatility. The default is 4, allowing comparison of current volatility with that of 4 candles ago.
Stop Loss : Percentage of the reference range on which to set an exit order to limit losses. The minimum value is 0.001, while the maximum is 1. The default value is 0.35.
Fixed Ratio : This is the amount of gain or loss at which the order quantity is changed. The default is 400, which means that for each $400 gain or loss, the order size is increased or decreased by an amount chosen by the user.
Increasing Order Amount : This is the amount to be added to or subtracted from orders when the fixed ratio is reached. The default is $200, which means that for every $400 gain, $200 is reinvested in the strategy. On the other hand, for every $400 loss, the order size is reduced by $200.
Initial capital : $1000
Fees : Interactive Broker fees apply to this strategy. They are set at 0.18% of the trade value.
Slippage : 3 ticks or $0.03 per trade. Corresponds to the latency time between the moment the signal is received and the moment the order is executed by the broker.
Important : A bot was used to test NR4 and NR7 with all possible Stop Losses in order to find out which combination generates the highest return on BITSTAMP:ETHUSD while limiting the drawdown. This strategy is the most optimal with an NR4 and a SL of 35% of the reference range size in 5D timeframe.
BUY AND SHORT SIGNALS :
When an NR is spotted, we create two stop orders on the high and low of the reference range. As soon as there's a breakout from this reference range (shown in blue on the chart), we open a position. We're LONG if there's a breakout on the high and SHORT if there's a breakout on the low. Executing a stop order cancels the second stop order.
RISK MANAGEMENT :
This strategy is subject to losses. We manage our risk with Stop Losses. The user is free to enter a SL as a percentage of the reference range. The maximum amount risked per trade therefore depends on the size of the range. The larger the range, the greater the risk. That's why we have set a maximum Stop Loss to 10% to limiting risks per trade.
The special feature of this strategy is that it targets a precise profit objective. This corresponds to the size of the reference range at the top of the high if you're LONG, or at the bottom of the low if you're short. In the same way, the larger the reference range, the greater the potential profits.
The risk reward remains the same for all trades and amounts to : 100/35 = 2.86. If the reference range is too high, we have set a SL to 10% of the trade value to limit losses. In that case, the risk reward is less than 2.86.
MONEY MANAGEMENT :
The fixed ratio method was used to manage our gains and losses. For each gain of an amount equal to the value of the fixed ratio, we increase the order size by a value defined by the user in the "Increasing order amount" parameter. Similarly, each time we lose an amount equal to the value of the fixed ratio, we decrease the order size by the same user-defined value. This strategy increases both performance and drawdown.
NOTE :
Please note that the strategy is backtested from 2017-01-01. As the timeframe is 5D, this strategy is a medium/long-term strategy. That's why only 37 trades were closed. Be careful, as the test sample is small and performance may not necessarily reflect what may happen in the future.
Enjoy the strategy and don't forget to take the trade :)
Sentiment Range MA [ChartPrime]The "Sentiment Range MA" provides traders with a dynamic perspective on market activity, emphasizing both stability in chop zones and quick adaptability outside of them.
Key Features:
Chop Zone Stability: In choppy markets, this indicator remains consistent, filtering out the noise to provide a clear view.
Quick Adaptability: Should the price break out of these zones, the indicator recalibrates promptly.
Dynamic Support and Resistance: Adapts based on the latest price action, serving as an evolving reference point.
Emphasis on Recent Levels: The tool factors in the latest notable market levels to stay relevant and timely.
Configurations:
Data Source: Choose your desired metric, though many default to the closing price.
Output Smoothing: Adjust the SR MA's response to market movements.
Trigger Smoothing: Refine boundary definitions based on your market insights.
ATR Period: Set the period for the ATR, influencing the surrounding boundary's width.
Range Multiplier: Control the ATR's effect on the range.
Range Switch: Flip between high-low and open-close values for range determination.
Visuals
Sentiment Range MA Line:
- This is the flowing line that transitions between green and red.
- When it's green, it indicates bullish momentum in the market. This suggests a prevailing upward trend and can be an entry cue for traders who trade with the trend.
- When it turns red, bearish sentiments dominate. It indicates the potential beginning of a downtrend or a continued downtrend. Traders might interpret this as a signal to be cautious, to short the market, or to exit long positions.
The Chop Zone:
- This is the space between the price candles and the Sentiment Range MA line. It represents a region where the price is considered to be moving sideways or without a clear direction. Price movements within the chop zone might not be substantial enough to warrant a trading decision. Only when the price breaks out of this zone do we see the Sentiment Range MA line change color, signaling a potential trading opportunity.
By interpreting these visuals, traders can make more informed decisions based on the prevailing market sentiment and trend. The chart becomes a tool, providing both an overview of the market condition and potential entry or exit points based on the Sentiment Range MA indicator's readings.
Detailed Settings Overview
Understanding the settings of the Sentiment Range MA Indicator can greatly enhance its utility in your trading strategy. Let's dive deeper into each:
Output Smoothing:
Purpose: It refines the SR MA to provide a clearer trend perspective.
Functionality:
- At `0`, it ensures the indicator responds immediately to price deviations from the chop zone.
- At higher values, it transforms the indicator into a volatility-adjusted moving average.
Filtering Modes:
- Single Filtering: Prioritizes speed.
- Double Filtering: Emphasizes stability.
Trigger Smoothing:
Purpose: Used for the range break detection.
Functionality: It dampens the indicator's sensitivity to sudden market volatility, preventing unnecessary triggers.
ATR Length:
Purpose: Governs the retrospective period for the chop zone.
Functionality:
- Higher values offer a more consistent and broad range size, capturing more historical data.
- Lower values allow for a more adaptive and responsive range.
Range Multiplier:
Purpose: Modifies the breadth of the range around the SR MA.
Functionality: Increasing the multiplier will extend the range, giving more leeway before triggering, while decreasing it will narrow the range, making the indicator more responsive to price changes.
Range Style:
Purpose: Decides which candlestick data is factored into the true range calculations.
Options:
- Body: Uses the open and close values.
- Wick: Accounts for the high and low values.
Functionality: Switching between styles lets you prioritize either the overall volatility (Wick) or just the concluded price action for a period (Body).
By fine-tuning these settings, traders can tailor the Sentiment Range MA Indicator to various market conditions and personal trading styles, ensuring optimal decision-making.
Quick Start
Based on the provided chart, here's a brief explanation of the default settings for the Sentiment Range MA Indicator:
Length: Set at ` 20 `.
- This determines the base moving average period. A standard setting, it calculates the average price over the last 20 periods, providing traders with a clear perspective of short-term trends.
ATR Length: Set at ` 200 `.
- This adjusts the lookback period for the Average True Range (ATR), which in turn influences the chop zone calculation. At a setting of 200, it offers a comprehensive view, considering a longer stretch of historical data.
Range Multiplier: Set at ` 6 `.
- This multiplies the ATR value, widening or narrowing the band around the SR MA. A setting of 6 means the range around the SR MA is determined by multiplying the ATR by 6, offering a broader fluctuation zone.
On the chart, the green line represents the bullish sentiment and the red represents the bearish sentiment. Price movements above and below these lines can be used as potential buy or sell signals respectively. Fine-tuning these settings can cater the Sentiment Range MA Indicator to your specific trading strategy and market condition preferences.
Alternative Settings
For traders looking to adapt to faster market conditions or prefer a more agile analysis, here's a brief description of the alternative settings for the Sentiment Range MA Indicator:
Length: Set at ` 3 `.
- This highly responsive setting calculates the average price over the last 3 periods. Ideal for quick market movements, it offers traders insights into very short-term price trends and potentially swift trade opportunities.
ATR Length: Set at ` 50 `.
- This shorter lookback period for the Average True Range (ATR) focuses on more recent market volatility, providing a tighter and more current chop zone calculation. It's suitable for those wanting to respond to recent market shifts.
Range Multiplier: Set at ` 4 `.
- Multiplying the ATR by 4 narrows down the buffer around the SR MA. This creates a tighter sentiment range, possibly resulting in more frequent crossovers and trading signals.
In the provided chart, the green line still denotes bullish momentum while the red symbolizes bearish sentiment. These alternative settings might generate more frequent signals, so traders should ensure their strategy is aligned with this heightened sensitivity.
Wrapping Up
The Sentiment Range MA melds stability and agility, making it a valuable tool in your trading toolkit. As always, before integrating new indicators, take the time to understand its nuances and potential impacts on your strategy.
20/200MAs+LTF+4HTF and HighLowBox+3HTF20/200MAs
Shows 20 and 200 MAs in each TFs(tfChart,1 Lower and 4 Higher).
TFs:
current TF
Lower TF (default: lower1)
Higher TF1 (default: higher1)
Higher TF2 (default: higher1)
Higher TF3 (default: higher1)
Higher TF4 (default: higher1)
MAs:
20MA (default: sma)
1st 200MA (default: sma)
2nd 200MA (default: ema)
VWAP (optional)
HighLowBox+3HTF
Enclose in a square high and low range in each timeframe.
Shows price range and duration of each box.
In current timeframe, shows Fibonacci Scale inside(23.6%, 38.2%, 50.0%, 61.8%, 76.4%)/outside of each box.
Outside(161.8%,261.8,361.8%) would be shown as next target, if break top/bottom of each box.
1st box for current timeframe.
2nd box for higher timeframe.(default: higher1)
3rd box for higher timeframe.(default: higher2)
4th box for higher timeframe.(default: higher3)
static timeframes can also be used.
HighLowBox 1+3TF Enclose in a square high and low range in each timeframe.
Shows price range and duration of each box.
In current timeframe, shows Fibonacci Scale inside(23.6%, 38.2%, 50.0%, 61.8%, 76.4%)/outside of each box.
Outside(161.8%,261.8,361.8%) would be shown as next target, if break top/bottom of each box.
1st box for current timeframe.(default: Chart)
2nd-4th box for higher timeframes.(default: higher1,higher2,higher3)
static timeframes can also be used.
