WillStop Pro [tradeviZion]WillStop Pro : A Step-by-Step Guide for Beginners to Master Trend Trading
Welcome to an in-depth guide to the WillStop Pro indicator. This article will walk you through the key features, how to use them effectively, and how this tool can help you navigate the markets confidently. WillStop Pro is based on principles established by Larry Williams, a well-known figure in trading, and aims to help you manage trades more effectively without overcomplicating things.
This guide will help you understand the basics of the WillStop Pro indicator, how to interpret its signals, and how to use it step-by-step to manage risk and identify opportunities in your trading journey. We will also cover the underlying logic and calculations for advanced users interested in more details.
What is the WillStop Pro Indicator?
The WillStop Pro indicator is a user-friendly tool that helps traders establish stop levels dynamically. It helps you figure out optimal points to enter or exit trades, while managing risk effectively during changing market conditions. The indicator tracks trending markets and sets price levels as stops for ongoing trades, making it suitable both for deciding when to enter and exit trades.
The indicator is beginner-friendly because it simplifies complex calculations and presents the results visually. This allows traders to focus more on their decision-making process instead of spending time with complex analysis.
WillStop Pro adapts to different market conditions, whether you're trading stocks, forex, commodities, or cryptocurrencies. It adjusts stop levels dynamically based on current market momentum, providing a practical way to manage both risk and reward.
Another significant benefit of WillStop Pro is that it works well with other indicators. Beginners can use it on its own or combine it with other tools like moving averages or oscillators to form a comprehensive trading strategy. Whether you are trading daily or looking at longer-term trends, WillStop Pro helps you manage your trades effectively.
Key Features of WillStop Pro
Dynamic Stop Levels : WillStop Pro calculates real-time stop levels for both long (buy) and short (sell) positions. This helps you protect your profits and reduce risk. The stop levels adjust based on the current market environment, making them more adaptable compared to fixed stop levels.
Advanced Stop Settings : There are optional settings to make the stop calculations more advanced, which take into consideration previous price movements to refine where the stops should be placed. These settings provide more precise control over your trades.
Break Signals and Alerts : The indicator provides visual signals, like arrows, to show when a stop level has been broken. This makes it easier for you to identify possible reversals and understand when the market direction is changing.
Comprehensive Table Display : A small table on the chart shows the current trend, the stop level, and whether advanced mode is active. This simple display provides an overview of the market, making decision-making easier.
Based on Larry Williams' Methodology : WillStop Pro builds upon Larry Williams' ideas, which are designed to capture major market trends while managing risk effectively. It provides a systematic way to follow these strategies without requiring deep technical analysis skills.
How Are Stop Levels Calculated? (For Advanced Users)
The WillStop Pro indicator determines stop levels by evaluating highs, lows, and closing prices over a specific lookback period. It uses this information to identify key points that justify adjusting your stop level, and there are separate approaches for both long and short positions.
Below, we explain the mathematical logic behind the stop calculations, along with some code snippets to give advanced users a clearer understanding.
For Long Stops (buy positions): The indicator looks for the highest closing price within the lookback period and continues until it finds three valid bars that meet certain criteria. Stops are adjusted to skip bars that have consecutive upward closes to ensure that the stop is placed at a level that offers solid support. Specifically, the function iterates over recent bars to determine the highest closing value, and checks for specific conditions before finalizing the stop level. Here is an excerpt of the relevant code:
getTrueLow(idx) => math.min(low , close )
findStopLevels() =>
float highestClose = close
int highestCloseIndex = 0
for i = 0 to lookback
if close > highestClose
highestClose := close
highestCloseIndex := i
// Logic to adjust based on up close skipping
int longCount = 0
int longCurrentIndex = highestCloseIndex
while longCount < 3 and longCurrentIndex < 100
if not isInsideBar(longCurrentIndex)
longCount += 1
longCurrentIndex += 1
// Determine the lowest low for the stop level
float longStopLevel = high * 2
for i = searchIndex to highestCloseIndex
longStopLevel := math.min(longStopLevel, getTrueLow(i))
// Apply offset
longStopLevel := longStopLevel - (offsetTicks * tickSize)
In this code snippet, the function findStopLevels() calculates the long stop level by first identifying the highest close within the lookback period and then finding a suitable support level while skipping certain conditions, such as inside bars or consecutive upward closes. Finally, the user-defined offset ( offsetTicks ) is applied to determine the stop level.
For Short Stops (sell positions): Similarly, the indicator finds the lowest closing price within the lookback period and then identifies three bars that fit the conditions for a short stop. It avoids using bars with consecutive down closes to help find a more robust resistance level. Here's a relevant code snippet:
getTrueHigh(idx) => math.max(high , close )
findStopLevels() =>
float lowestClose = close
int lowestCloseIndex = 0
for i = 0 to lookback
if close < lowestClose
lowestClose := close
lowestCloseIndex := i
// Logic to adjust based on down close skipping
int shortCount = 0
int shortCurrentIndex = lowestCloseIndex
while shortCount < 3 and shortCurrentIndex < 100
if not isInsideBar(shortCurrentIndex)
shortCount += 1
shortCurrentIndex += 1
// Determine the highest high for the stop level
float shortStopLevel = 0
for i = searchIndex to lowestCloseIndex
shortStopLevel := math.max(shortStopLevel, getTrueHigh(i))
// Apply offset
shortStopLevel := shortStopLevel + (offsetTicks * tickSize)
Here, findStopLevels() calculates the short stop level by finding the lowest closing price within the lookback period. It then determines the highest value that acts as a resistance level, excluding bars that do not fit certain criteria.
Volume Confirmation for Alert Accuracy : To further enhance the stop level accuracy, volume is used as a confirmation filter. The average volume (volAvg) is calculated over a 20-period moving average, and alerts are only generated if the volume exceeds a defined threshold (volMultiplier). This ensures that price movements are significant enough to consider as meaningful signals.
volAvg = ta.sma(volume, 20)
isVolumeConfirmed() =>
result = requireVolumeConfirmation ? volume > (volAvg * volMultiplier) : true
result
This additional logic ensures that stop level breaks or adjustments are not triggered during periods of low trading activity, thus enhancing the reliability of the generated signals.
These calculations are at the core of WillStop Pro's ability to determine dynamic stop levels that respond effectively to market movements, helping traders manage risk by placing stops at levels that make sense given historical price and volume data.
How to Identify Opportunities with WillStop Pro
WillStop Pro provides various signals that help you decide when to enter or exit a trade:
When a Stop Level is Broken: If a stop level (support for long positions or resistance for short positions) is broken, it may indicate a reversal. WillStop Pro visually plots arrows whenever a stop level is breached, making it easy for you to see where changes might occur. This feature helps traders identify momentum shifts quickly.
Support and Resistance Levels: The indicator plots support and resistance levels, which show key zones to watch for opportunities. These levels often act as psychological barriers in the market, where price action may either reverse or stall temporarily.
Dynamic State Management: The indicator shifts between long and short states based on price action, providing real-time feedback. This helps traders stick to their trading plan without second-guessing the market.
A major advantage of WillStop Pro is that it responds well to changing market conditions. By identifying when key support or resistance levels break, it allows you to adjust your strategies and react to new opportunities accordingly. Whether the market is trending strongly or staying within a range, WillStop Pro provides valuable information to help guide your trades.
Setting Up Alerts
Alerts are an important feature in trading, especially when you can’t be in front of your charts all the time. WillStop Pro has been enhanced to include flexible alert settings to help you stay on top of your trades without constantly monitoring the charts.
Enable Alerts: There is a master switch to enable or disable all alerts. This way, you can control whether you want to be notified of events at any time.
Alert Frequency: Choose between receiving alerts Once Per Bar or Once Per Bar Close . This helps you manage the frequency of alerts and decide if you need real-time updates or want confirmation after a bar closes.
Break Alerts: These alerts notify you when a stop level has been broken. This can help you catch potential reversals or trading opportunities as soon as they happen.
Strong Break Alerts: Alerts are available for strong breaks, which occur when the price breaks stop levels with confirmation based on additional price, volume, and momentum criteria. These alerts help identify significant shifts in the market.
Level Change Alerts: These alerts tell you whenever a new stop level is calculated, keeping you updated about changes in market dynamics. You can set a Minimum Level Change % to ensure that alerts are only triggered when the stop level changes significantly.
Require Volume Confirmation: You can opt to receive alerts only if the volume is above a certain threshold. This confirmation helps reduce false signals by ensuring that significant price changes are backed by increased trading activity.
Volume Multiplier: The volume multiplier allows you to set a minimum volume requirement that must be met for an alert to trigger. This ensures that alerts are triggered only when there is sufficient trading interest.
Here is a part of the updated alert logic that has been implemented in the indicator:
// Alert on break conditions
if alertsEnabled
if alertOnBreaks
if longStopBroken and isVolumeConfirmed()
alert(createAlertMessage("Support Break - Short Signal", useAdvancedStops), alertFreq)
if shortStopBroken and isVolumeConfirmed()
alert(createAlertMessage("Resistance Break - Long Signal", useAdvancedStops), alertFreq)
// Strong break alerts
if alertOnStrongBreaks
if longStopBroken and isStrongBreak(false)
alert(createAlertMessage("Strong Support Break - Short Signal", useAdvancedStops), alertFreq)
if shortStopBroken and isStrongBreak(true)
alert(createAlertMessage("Strong Resistance Break - Long Signal", useAdvancedStops), alertFreq)
// Level change alerts
if alertOnLevelChanges and isSignificantChange() and isVolumeConfirmed()
alert(createAlertMessage("Significant Level Change", useAdvancedStops), alertFreq)
Setting alerts allows you to react to market changes without having to watch the charts constantly. Alerts are particularly helpful if you have other responsibilities and can’t be actively monitoring your trades all day.
Understanding the Table Display
The WillStop Pro indicator provides a status table that gives an overview of the current market state. Here’s what the table shows:
Indicator Status: The table indicates whether the indicator is in a LONG or SHORT state. This helps you quickly understand the market trend.
Stop Level: The active stop level is shown, whether it is acting as support (long) or resistance (short). This is important for knowing where to set your protective stops.
Mode: The table also displays whether the advanced calculation mode is being used. This keeps you informed about how stop levels are being calculated and why they are positioned where they are.
Empowering Messages: The table also includes motivational messages that rotate periodically, such as 'Trade with Clarity, Stop with Precision' and 'Let Winners Run, Cut Losses Short.' These messages are designed to keep you focused, motivated, and disciplined during your trading journey.
The table is simple and easy to follow, helping you maintain discipline in your trading plan. By having all the essential information in one place, the table reduces the need to make quick, emotional decisions and promotes more thoughtful analysis.
Tips for Using WillStop Pro Effectively
Here are some practical ways to make the most of the WillStop Pro indicator:
Start with Default Settings: If you’re new to the indicator, start with the default settings. This will give you an idea of how stop levels are determined and how they adjust to different markets.
Experiment with Advanced Settings: Once you are comfortable, try using the advanced stop settings to see how they refine the stop levels. This can be useful in certain market conditions to improve accuracy.
Use Alerts to Stay Updated: Set up alerts for when a stop level is broken or when new levels are calculated. This helps you take action without constantly watching the chart. Swing traders may find alerts especially helpful for monitoring longer-term moves.
Monitor the Status Table: Keep an eye on the status table to understand the current market condition. Whether the indicator is in a LONG or SHORT state can help you make more informed decisions.
Focus on Risk Management: WillStop Pro is designed to help you manage risk by dynamically adjusting stop levels. Make sure you are using these levels to protect your trades, especially during strong trends or volatile periods.
Acknowledging Larry Williams' Influence
WillStop Pro is inspired by the work of Larry Williams, who described the approach as one of his best trading techniques. His method aims to ride major market trends while reducing the risk of giving back gains during corrections. WillStop Pro builds upon this approach, adding features like advanced stop settings and visual alerts that make it easier to apply in modern markets.
By using WillStop Pro, you are essentially leveraging a well-established trading strategy with additional tools that help improve its effectiveness. The indicator is designed to provide a reliable way to manage trades, stay on top of market conditions, and reduce emotional decision-making.
Conclusion: Why WillStop Pro is Great for Beginners and Advanced Users
The WillStop Pro is a powerful yet easy-to-use tool that helps traders ride trends while managing risk during market corrections. It can be used both for entering and exiting trades, and its visual features make it accessible for those who are new to trading, while the underlying logic appeals to advanced users seeking greater control and understanding.
WillStop Pro is more than just a tool for setting stops. It is a comprehensive solution for managing trades, with features like dynamic stop levels, customizable alerts, and an easy-to-understand status table. This combination of simplicity and advanced features makes it suitable for beginners as well as more experienced traders.
We hope this guide helps you get started with WillStop Pro and improves your trading confidence. Remember to start with the basics, explore the advanced features, and set alerts to stay informed without getting overwhelmed. Whether you’re just beginning or want to simplify your strategy, WillStop Pro is a valuable tool to have in your trading arsenal.
Trading can be challenging, but the right tools make it more manageable. WillStop Pro helps you keep track of market movements, identify opportunities, and manage risk effectively. Give it a try and see how it can improve your trading decisions and help you navigate the markets more efficiently.
By incorporating WillStop Pro into your strategy, you are following a systematic approach that has been refined over time. It’s designed to help you make sense of the markets, plan your trades, and manage your risks with greater clarity and confidence.
Note: Always practice proper risk management and thoroughly test the indicator to ensure it aligns with your trading strategy. Past performance is not indicative of future results.
Trade smarter with TradeVizion—unlock your trading potential today!
Cerca negli script per "smart"
Pappabborgia Nasdaq RSI This script provides a custom Relative Strength Index (RSI) indicator that plots both the RSI of the selected stock and the Nasdaq (IXIC) on the same chart.
It offers a clear, side-by-side view to help traders better understand the stock's momentum relative to the overall market.
Key Features:
RSI Calculation for the Stock:
The script calculates the RSI for the chosen stock, with a default period of 14, adjustable to fit different timeframes.
The stock’s RSI is displayed in green 🟢, providing a direct view of its strength and momentum 📈.
RSI of the Nasdaq:
The script fetches the Nasdaq’s closing prices and calculates its RSI, which is shown in red for clear comparison 🔴.
Legend for Clarity:
A simple legend in the top-right corner identifies the green line as the stock’s RSI and the red line as the Nasdaq’s RSI, making it easy to interpret 📊.
Why Comparing the Stock's RSI to the Nasdaq Matters:
Broader Market Context:
Viewing both RSIs on the same chart helps you see whether the stock is moving in sync with the broader market or behaving independently. This provides valuable context for decision-making 📉.
Relative Strength Insights:
Comparing the stock’s RSI to the Nasdaq’s RSI highlights whether the stock is outperforming or underperforming the overall market, helping identify potential opportunities or risks 🟢🔴.
Improved Risk Management:
Monitoring overbought or oversold conditions in both the stock and Nasdaq RSIs can signal broader market trends and help avoid risky trades ⚠️.
Overall Benefit:
By tracking the RSI of both the stock and the Nasdaq, this script offers a powerful tool for understanding a stock's relative strength, providing essential context for smarter trading decisions 🎯.
Judas Swing ICT 01 [TradingFinder] New York Midnight Opening M15🔵 Introduction
The Judas Swing (ICT Judas Swing) is a trading strategy developed by Michael Huddleston, also known as Inner Circle Trader (ICT). This strategy allows traders to identify fake market moves designed by smart money to deceive retail traders.
By concentrating on market structure, price action patterns, and liquidity flows, traders can align their trades with institutional movements and avoid common pitfalls. It is particularly useful in FOREX and stock markets, helping traders identify optimal entry and exit points while minimizing risks from false breakouts.
In today's volatile markets, understanding how smart money manipulates price action across sessions such as Asia, London, and New York is essential for success. The ICT Judas Swing strategy helps traders avoid common pitfalls by focusing on key movements during the opening time and range of each session, identifying breakouts and false breakouts.
By utilizing various time frames and improving risk management, this strategy enables traders to make more informed decisions and take advantage of significant market movements.
In the Judas Swing strategy, for a bullish setup, the price first touches the high of the 15-minute range of New York midnight and then the low. After that, the price returns upward, breaks the high, and if there’s a candlestick confirmation during the pullback, a buy signal is generated.
bearish setup, the price first touches the low of the range, then the high. With the price returning downward and breaking the low, if there’s a candlestick confirmation during the pullback to the low, a sell signal is generated.
🔵 How to Use
To effectively implement the Judas Swing strategy (ICT Judas Swing) in trading, traders must first identify the price range of the 15-minute window following New York midnight. This range, consisting of highs and lows, sets the stage for the upcoming movements in the London and New York sessions.
🟣 Bullish Setup
For a bullish setup, the price first moves to touch the high of the range, then the low, before returning upward to break the high. Following this, a pullback occurs, and if a valid candlestick confirmation (such as a reversal pattern) is observed, a buy signal is generated. This confirmation could indicate the presence of smart money supporting the bullish movement.
🟣 Bearish Setup
For a bearish setup, the process is the reverse. The price first touches the low of the range, then the high. Afterward, the price moves downward again and breaks the low. A pullback follows to the broken low, and if a bearish candlestick confirmation is seen, a sell signal is generated. This confirmation signals the continuation of the downward price movement.
Using the Judas Swing strategy enables traders to avoid fake breakouts and focus on strong market confirmations. The strategy is versatile, applying to FOREX, stocks, and other financial instruments, offering optimal trading opportunities through market structure analysis and time frame synchronization.
To execute this strategy successfully, traders must combine it with effective risk management techniques such as setting appropriate stop losses and employing optimal risk-to-reward ratios. While the Judas Swing is a powerful tool for predicting price movements, traders should remember that no strategy is entirely risk-free. Proper capital management remains a critical element of long-term success.
By mastering the ICT Judas Swing strategy, traders can better identify entry and exit points and avoid common traps from fake market movements, ultimately improving their trading performance.
🔵 Setting
Opening Range : High and Low identification time range.
Extend : The time span of the dashed line.
Permit : Signal emission time range.
🔵 Conclusion
The Judas Swing strategy (ICT Judas Swing) is a powerful tool in technical analysis that helps traders identify fake moves and align their trades with institutional actions, reducing risk and enhancing their ability to capitalize on market opportunities.
By leveraging key levels such as range highs and lows, fake breakouts, and candlestick confirmations, traders can enter trades with more precision. This strategy is applicable in forex, stocks, and other financial markets and, with proper risk management, can lead to consistent trading success.
Larry Williams Valuation Index [tradeviZion]Larry Williams Valuation Index
Welcome to the Larry Williams Valuation Index by tradeviZion! This script is an interpretation of Larry Williams' famous WillVal (Valuation) Index, originally developed in 1990 to help traders determine whether a market or asset is overvalued or undervalued. We've extended it to support multiple securities and offer alerts for different valuation levels, helping you make more informed trading decisions.
What is the Valuation Index?
The Valuation Index measures how a security's current price compares to its historical price action. It helps identify whether the security is overvalued (priced too high), undervalued (priced too low), or in a normal range.
This version supports multiple securities and uses valuation parameters to help you assess the relative valuation of three securities simultaneously. It can help you determine the best times to enter (buy) or exit (sell) the market.
Key Features
Multi-Security Analysis: Analyze up to three securities simultaneously to get a broader view of market conditions.
Valuation Levels: Automatically calculate overvaluation and undervaluation levels or set manual levels for consistent analysis.
Custom Alerts: Create custom alerts when securities move between overvalued, undervalued, or normal ranges.
Customizable Table Display: Display a table with valuation values and their status on the chart.
Getting Started
Step 1: Adding the Script to Your Chart
First, add the Larry Williams Valuation Index script to your chart on TradingView. The script is designed to work with any timeframe, but for best results, use weekly or daily timeframes for a longer-term perspective.
Step 2: Configuring Securities
The script allows you to analyze up to three different securities :
Security 1 (Default: DXY)
Security 2 (Default: GC1!)
Security 3 (Default: ZB1!)
You can enable or disable each security individually.
Custom Timeframe Option: You have the option to select a custom timeframe for analysis. This allows you to see whether the security is overvalued or undervalued in lower or higher timeframes. Note that this feature is experimental and has not been extensively tested. Larry Williams originally used the weekly timeframe to determine if a stock was overvalued or undervalued. By default, the indicator compares the current price with the security based on the selected timeframe, except if you choose to use a custom timeframe.
Pro Tip : New users can start with the default securities to understand the concept before using other assets.
Step 3: Valuation Index Settings
Short EMA Length : This is the short-term average used for calculations. A lower value makes it more responsive to recent price changes.
Long EMA Length : This is the long-term average, used to smooth the valuation over time.
Valuation Length (Default: 156) : Represents approximately three years of daily bars (as recommended by Larry Williams).
How is the Valuation Index Calculated?
The valuation calculation is done using a method called WVI (WillVal Index), which compares the current price of a security to the price of another correlated security. Here’s a step-by-step explanation:
1. Data Collection: The script takes the closing price of the security you are analyzing and the closing price of the correlated security.
2. Ratio Calculation : The ratio of the two prices is calculated:
Price Ratio = (Price of your security) / (Price of correlated security) * 100.
This ratio helps determine how expensive or cheap your security is compared to the correlated one.
3. Exponential Moving Averages (EMAs) : The price ratio is used to calculate short-term and long-term EMAs (Exponential Moving Averages). EMAs are used to create smooth lines that represent the average price of a security over a specific period of time, with more weight given to recent data. By calculating both short-term and long-term EMAs, we can identify the trend direction and how the security is performing compared to its historical averages.
4. Valuation Index Calculation:
The Valuation Index is calculated as the difference between the short-term EMA and the long-term EMA. This difference helps to determine if the security is currently overvalued or undervalued:
A positive value indicates that the price is above its longer-term trend, suggesting potential overvaluation.
A negative value indicates that the price is below its longer-term trend, suggesting potential undervaluation.
5. Normalization:
To make the valuation easier to interpret, the calculated valuation index is then normalized using the highest and lowest values over the selected valuation length (e.g., 156 bars).
This normalization process converts the index into a percentage between 0 and 100, where higher values indicate overvaluation and lower values indicate undervaluation.
Step 4: Understanding Valuation Levels
The valuation levels indicate whether a security is currently undervalued, overvalued, or in a normal range.
Manual Levels : You can manually set the overvaluation and undervaluation thresholds (default is 85 for overvalued and 15 for undervalued).
Auto Levels : The script can automatically calculate these levels based on recent price action, allowing you to adapt to changing market conditions.
Auto Levels Calculation Explained:
The Auto Levels are calculated by taking the average of the valuation indices for all three securities (e.g., index1, index2, and index3).
The script then looks at the highest and lowest values of this average over a selected number of recent bars (e.g., 50 bars).
The overvaluation level is determined by taking the highest value and multiplying it by a multiplier (e.g., 5). Similarly, the undervaluation level is calculated using the lowest value and the multiplier.
These dynamic levels adjust according to recent price action, providing an adaptive approach to identifying overvalued and undervalued conditions.
Step 5: How to Use the Script to Make Trading Decisions
For new users, here's a step-by-step trading strategy you can use with the Valuation Index:
1. Identify Undervalued Opportunities
When two or more securities are in the undervalued range (below 15 for manual or below automatically calculated undervalue levels), wait for at least two of these securities to turn from undervalued to normal .
This transition indicates a potential buy opportunity .
2. Buying Signal
When at least two securities transition from undervalued to normal, you can consider buying the asset.
This indicates that the market may be recovering from undervalued conditions and could be moving into a growth phase.
3. Selling Signal
Exit when the price high closes below the EMA 21 (21-day exponential moving average).
Alternatively, if the valuation index reaches overvalued levels (above 85 manually or auto-calculated), wait for it to drop back to normal . This can be another point to exit the trade .
You can also use any other sell condition based on your r isk management strategy .
Alerts for Valuation Levels
The script includes alerts to notify you of changing market conditions:
To activate these alerts, follow these steps, referring to the provided screenshot with detailed steps:
1. Enable Alerts : Click on the settings gear icon on the script title in your chart. In the settings menu, scroll to the section labeled Alerts Settings .
Enable Alerts by checking the Enable Alerts box.
Set the Required Securities for Alert (default is 2 securities).
Choose the Alert Frequency : Selecting Once Per Bar Close will trigger alerts only at the close of each bar, ensuring you receive confirmed signals rather than potentially noisy intermediate signals.
2. Select Alert Type : Choose the type of alert you want to activate, such as Alert on Overvalued, Alert on Undervalued, Alert on Over to Normal , or Alert on Under to Normal .
3. Save Settings : Click OK to save your alert settings.
4. Add Alert on Indicator : Click the "..." (More button) next to the indicator name on the chart and select " Add alert on tradeviZion - WillVal ".
5. Create Alert : In the Create Alert window:
Set Condition to tradeviZion - WillVal .
Ensure Any alert() function call is selected.
Set the Alert Name and select your Expiration preferences.
6. Set Notification Preferences : Go to the Notifications tab and select how you want to receive notifications, such as via app notification, toast notification, email , or sound alert . Adjust these preferences to best suit your needs.
7. Click Create : Finally, click Create to activate the alert.
These alerts will help you stay informed about key market conditions and take action accordingly, ensuring you do not miss critical trading opportunities.
Understanding the Table Display
The script includes an interactive table on the chart to show the valuation status of each security:
Security : The name of the security being analyzed.
Value : The current valuation index value.
Status : Indicates whether the security is overvalued, undervalued , or in a normal range.
Color: Displays a color code for easy identification of status:
Red for overvalued.
Green for undervalued.
Other colors represent normal valuation levels.
Empowering Messages : Motivational messages are displayed to encourage disciplined trading. These messages will change periodically, helping keep a positive trading mindset.
Acknowledgment
This tool builds upon the foundational work of Larry Williams, who developed the WillVal (Valuation) Index concept. It also incorporates enhancements to extend multi-security analysis, valuation normalization, and advanced alerting features, providing a more versatile and powerful indicator. The Larry Williams Valuation Index [ tradeviZion ] helps traders make informed decisions by assessing overvalued and undervalued conditions for multiple securities simultaneously.
Note : Always practice proper risk management and thoroughly test the indicator to ensure it aligns with your trading strategy. Past performance is not indicative of future results.
Trade smarter with TradeVizion—unlock your trading potential today!
MTF Squeeze Analyzer - [tradeviZion]MTF Squeeze Analyzer
Multi-Timeframe Squeeze Pro Analyzer Tool
Overview:
The MTF Squeeze Analyzer is a comprehensive tool designed to help traders monitor the TTM Squeeze indicator across multiple timeframes in a streamlined and efficient manner. Built with Pine Script™ version 5, this indicator enhances your market analysis by providing detailed insights into squeeze conditions and momentum shifts, enabling you to make more informed trading decisions.
Key Features:
1. Multi-Timeframe Monitoring:
Comprehensive Coverage: Track squeeze conditions across multiple timeframes, including 1-minute, 5-minute, 15-minute, 30-minute, 1-hour, 2-hour, 4-hour, and daily charts.
Squeeze Counts: Keep count of the number of consecutive bars the price has been within each squeeze level (low, mid, high), helping you assess the strength and duration of consolidation periods.
2. Dynamic Table Display:
Customizable Appearance: Adjust table position, text size, and colors to suit your preferences.
Color-Coded Indicators: Easily identify squeeze levels and momentum shifts with intuitive color schemes.
Message Integration: Features rotating messages to keep you engaged and informed.
3. Alerts for Key Market Events:
Squeeze Start and Fire Alerts: Receive notifications when a squeeze starts or fires on your selected timeframes.
Custom Squeeze Count Alerts: Set thresholds for squeeze counts and get alerted when these levels are reached, allowing you to anticipate potential breakouts.
Fully Customizable: Choose which alerts you want to receive and tailor them to your trading strategy.
4. Momentum Analysis:
Momentum Oscillator: Visualize momentum using a histogram that changes color based on momentum shifts.
Detailed Insights: Determine whether momentum is increasing or decreasing to make more strategic trading decisions.
How It Works:
The indicator is based on the TTM Squeeze concept, which identifies periods of low volatility where the market is "squeezing" before a potential breakout. It analyzes the relationship between Bollinger Bands and Keltner Channels to determine squeeze conditions and uses linear regression to calculate momentum.
1. Squeeze Levels:
No Squeeze (Green): Market is not in a squeeze.
Low Compression Squeeze (Gray): Mild consolidation, potential for a breakout.
Mid Compression Squeeze (Red): Moderate consolidation, higher breakout potential.
High Compression Squeeze (Orange): Strong consolidation, significant breakout potential.
2. Squeeze Counts:
Tracks the number of consecutive bars in each squeeze condition.
Helps identify how long the market has been consolidating, providing clues about potential breakout timing.
3. Momentum Histogram:
Upward Momentum: Shown in aqua or blue, indicating increasing or decreasing upward momentum.
Downward Momentum: Displayed in red or yellow, representing increasing or decreasing downward momentum.
Using Alerts:
Stay ahead of market movements with customizable alerts:
1. Enable Alerts in Settings:
Squeeze Start Alert: Get notified when a new squeeze begins.
Squeeze Fire Alert: Be alerted when a squeeze ends, signaling a potential breakout.
Squeeze Count Alert: Set a specific number of bars for a squeeze condition, and receive an alert when this count is reached.
2. Set Up Alerts on Your Chart:
Click on the indicator name and select " Add Alert on MTF Squeeze Analyzer ".
Choose your desired alert conditions and customize the notification settings.
Click " Create " to activate the alerts.
How to Set It Up:
1. Add the Indicator to Your Chart:
Search for " MTF Squeeze Analyzer " in the TradingView Indicators library.
Add it to your chart.
2. Customize Your Settings:
Table Display:
Choose whether to show the table and select its position on the chart.
Adjust text size and colors to enhance readability.
Timeframe Selection:
Select the timeframes you want to monitor.
Enable or disable specific timeframes based on your trading strategy.
Colors & Styles:
Customize colors for different squeeze levels and momentum shifts.
Adjust header and text colors to match your chart theme.
Alert Settings:
Enable alerts for squeeze start, squeeze fire, and squeeze counts.
Set your preferred squeeze type and count threshold for alerts.
3. Interpret the Data:
Table Information:
The table displays the squeeze status and counts for each selected timeframe.
Colors indicate the type of squeeze, making it easy to assess market conditions at a glance.
Momentum Histogram:
Use the histogram to gauge the strength and direction of market momentum.
Observe color changes to identify shifts in momentum.
Why Use MTF Squeeze Analyzer ?
Enhanced Market Insight:
Gain a deeper understanding of market dynamics by monitoring multiple timeframes simultaneously.
Identify potential breakout opportunities by analyzing squeeze durations and momentum shifts.
Customizable and User-Friendly:
Tailor the indicator to fit your trading style and preferences.
Easily adjust settings without needing to delve into the code.
Time-Efficient:
Save time by viewing all relevant squeeze information in one place.
Reduce the need to switch between different charts and timeframes.
Stay Informed with Alerts:
Never miss a critical market movement with fully customizable alerts.
Focus on other tasks while the indicator monitors the market for you.
Acknowledgment:
This tool builds upon the foundational work of John Carter , who developed the TTM Squeeze concept. It also incorporates enhancements from LazyBear and Makit0 , providing a more versatile and powerful indicator. MTF Squeeze Analyzer extends these concepts by adding multi-timeframe analysis, squeeze counting, and advanced alerting features, offering traders a comprehensive solution for market analysis.
Note: Always practice proper risk management and test the indicator thoroughly to ensure it aligns with your trading strategy. Past performance is not indicative of future results.
Trade smarter with TradeVizion—unlock your trading potential today!
Dynamic ConfluenceThe Dynamic MA Confluence Indicator is a powerful tool designed to simplify your trading experience by automatically identifying the most influential moving average (MA) lengths on your chart. Whether you're using Simple Moving Averages (SMA) or Exponential Moving Averages (EMA), this indicator helps you pinpoint the MA length that holds the greatest confluence, allowing you to make informed trading decisions with ease.
How It Works:
This indicator analyzes a wide range of moving averages, from short-term to long-term, to determine which ones are closest to each other. By setting a "Proximity Percentage," you can control how close these MAs need to be to be considered as having confluence. The indicator then calculates the average of these close MAs to establish a dynamic support or resistance level on your chart.
Why Use This Indicator?
Automatic Optimization: Unsure of which MA length to apply? The indicator automatically highlights the MA length with the most confluence, giving you a clear edge in identifying significant market levels.
Adaptability: Choose between SMA and EMA to suit your trading strategy and market conditions.
Enhanced Decision-Making: By focusing on the MA length with the greatest influence, you can better anticipate market movements and adjust your strategies accordingly.
Customizable Sensitivity: Adjust the Proximity Percentage to fine-tune the indicator's sensitivity, ensuring it aligns with your trading preferences.
Key Feature:
Current Key Confluence MA Length: Displayed in an optional table, this feature shows the MA length that currently has the most impact on the confluence level, providing you with actionable insights at a glance.
Whether you're a seasoned trader or just starting, the Dynamic MA Confluence Indicator offers a streamlined approach to understanding market dynamics, helping you trade smarter and with more confidence. This presentation text is designed to clearly communicate the purpose, functionality, and benefits of the indicator, making it easy for users to understand its value and how it can enhance their trading strategies.
The Dynamic MA Confluence Indicator is a tool designed to assist traders in analyzing market trends. It should not be considered as financial advice or a guarantee of future performance. Trading involves significant risk, and it is possible to lose more than your initial investment. Users should conduct their own research and consider their financial situation before making trading decisions. Always consult with a financial advisor if you are unsure about any trading strategies or decisions. This disclaimer is intended to remind users of the inherent risks in trading and the importance of conducting their own due diligence.
User-Defined RSI-Adaptive Dynamic Stop Loss User-Defined RSI-Adaptive Dynamic Stop Loss
(Long name is: User-Defined RSI-Adaptive Smart Dynamic Stop Loss (SDSL) Indicator)
The User-Defined RSI-Adaptive SDSL Indicator is an enhanced version of the Smart Dynamic Stop Loss (SDSL) indicator. It provides a more adaptive risk management strategy by adjusting the stop loss level dynamically based on the Relative Strength Index (RSI). The script allows users to define the stop loss parameters, offering a flexible approach that can be tailored to different market conditions.
How It Works / Calculation:
RSI Calculation: The indicator calculates the RSI (Relative Strength Index) over a user-defined period (default 14). The RSI is used to determine market overbought and oversold levels, which are set by default at 70 and 30, respectively, but these levels can be adjusted by the user.
Adaptive Stop Loss Percentage: The stop loss percentage is dynamically adjusted between user-defined maximum (default 10%) and minimum (default 1%) values. This percentage adapts based on the current RSI value:
When RSI is in the oversold zone, the stop loss percentage is at its maximum (providing a wider margin).
When RSI is in the overbought zone, the stop loss percentage is at its minimum (tightening the stop to secure gains).
Dynamic Stop Loss Calculation:
Initialization: If no existing stop loss level is set, it initializes at a user-defined percentage below the current closing price.
Upward Movement: If the price rises above the current stop loss level, the stop loss is recalculated to stay within the adaptive range.
Price Crosses Below Stop Loss: If the price falls below the current stop loss level, the indicator resets, establishing a new stop loss level at the user-defined percentage below the low of the candle where the crossover occurred.
Visual and Data Display:
The stop loss line is plotted on the chart for easy visualization.
A data box on the chart provides real-time updates on the current dynamic stop loss level, stop loss percentage, and RSI value.
Key Features:
User-Configurable Parameters: Users can adjust the RSI period, overbought/oversold levels, and the maximum and minimum stop loss percentages to suit their trading style and risk tolerance.
Dynamic Adaptation to Market Conditions: The stop loss level automatically adjusts according to RSI, allowing for more flexible risk management.
Visual Alerts and Signals : Optional visual signals indicate when the stop loss is triggered.
Informational Display: A table on the chart displays current indicator data for quick reference.
Note:
This script builds upon the previously developed "Smart Dynamic Stop Loss (SDSL) Indicator" and enhances its functionality by incorporating RSI-based adaptive stop loss settings that users can customize.
Market Structure Trailing Stop [BigBeluga]The Market Structure Trailing Stop indicator is an advanced tool for identifying market structure shifts, liquidity sweeps, and potential trend reversals using comprehensive volume analysis. This indicator combines the analysis of market structure pivots (CHoCH - Change of Character) with a sophisticated volume-based trailing stop logic. By evaluating delta volume at key structural points, it allows traders to identify high-probability trend continuations or reversals and manage their trades more effectively.
🔵 KEY FEATURES
● Market Structure Analysis
Pivot-Based Market Structure : The indicator identifies high and lows using user-defined periods, allowing traders to spot key market structure shifts.
Change of Character (CHoCH) : The first significant break of a market structure is marked as a CHoCH, indicating a potential trend reversal.
Break of Structure (BoS) : The indicator highlights subsequent breaks of structure after CHoCH, providing traders with crucial insights into trend strength.
● Advanced Volume Analysis
Delta Volume Evaluation : The indicator calculates delta volume (difference between up and down volume) at each ChoCh or BoS market structure point to assess the strength of the move. Identify Delta Volume from break point back to Pivot
● Trailing Stop Logic
Volume-Validated Trailing Stop : The indicator automatically plots a trailing stop if the delta volume at the UP CHoCH is positive and above the defined threshold and vice versa for Down CHoCH , allowing traders to protect their profits while riding the trend.
Trend Weakness Detection : If a subsequent BoS occurs with negative delta volume or lower volume than the input threshold, the trailing stop disappears, indicating potential trend exhaustion or reversal.
Dynamic Stop Placement : The trailing stop is dynamically adjusted based on market structure and volume, providing traders with a more adaptive stop-loss strategy.
Up Trend Trailing Stop:
Down Trend Trailing Stop:
● Liquidity Sweep Detection
Liquidity Sweep (X) Labels : The indicator identifies liquidity sweeps—points where the price temporarily reverses to sweep liquidity above or below a key level—marked with an “X” label.
Potential Reversal Zones : These liquidity sweeps are potential reversal zones, especially when accompanied by significant delta volume changes, providing traders with early warnings of potential trend reversals.
🔵 HOW TO USE
● Identifying Market Structure Shifts
Change of Character (CHoCH) : When a CHoCH occurs, the indicator calculates the total volume from the high point to the break point. If the delta volume is positive and exceeds the input threshold, a trailing stop is plotted, signaling potential trend continuation.
Break of Structure (BoS) : If BoS is enabled, subsequent breaks of structure are highlighted. If these BoS points show weaker volume or negative delta volume, the trailing stop will disappear, indicating that the trend may be losing strength.
● Using the Trailing Stop Feature
Protecting Profits : Once a CHoCH occurs and the delta volume validates the trend, the trailing stop will be plotted below (or above) the price to protect profits while allowing the trend to run.
Trend Reversal Signals : If the trailing stop disappears due to weak volume at subsequent BoS points, it may signal that the trend is losing momentum, and traders may consider closing their positions or tightening their stops manually.
● Liquidity Sweep Interpretation
Spotting Reversal Zones : Liquidity sweeps, marked with an “X” label, indicate zones where the price has swept liquidity. These areas can serve as potential reversal zones, especially when significant delta volume is observed at these points.
Early Reversal Warnings : Traders can use these liquidity sweep labels as early warnings for potential trend reversals, particularly in conjunction with other technical analysis methods.
🔵 CUSTOMIZATION
Highs and Lows Calculation : Customize the number of bars to the left and right for identifying pivots and market structure shifts.
Volume Threshold : Define the volume threshold to filter out weaker moves and focus on significant market structure shifts.
BoS and Liquidity Sweep Labels : Toggle on or off the BoS and Liquidity Sweep labels to tailor the indicator to your trading style.
Trend Color : Enable or disable trend coloring for candles to visually highlight uptrends and downtrends on the chart.
🔵 CONCLUSION
The Market Structure Trailing Stop indicator combines advanced volume analysis with market structure detection to provide traders with a powerful tool for identifying and managing trends. By leveraging delta volume at key structure points, it helps traders validate trend strength and manage their positions with a dynamic trailing stop strategy. The addition of liquidity sweep detection further enhances its utility, offering early warnings of potential trend reversals. This indicator is ideal for traders who want to gain a deeper understanding of market structure while incorporating volume-based insights into their trading strategies.
VSA Wyckoff Volume with Bubbles Introducing the "VSA Wyckoff Volume" indicator—a powerful tool for traders who want to visualize and analyze market volume with precision. This indicator leverages Volume Spread Analysis (VSA) and Wyckoff principles to categorize volume into six distinct levels: Ultra High, Very High, High, Normal, Low, and Very Low. Each level is represented by a color-coded bubble on the chart, with bubble sizes adjusted according to the volume intensity. Additionally, the indicator incorporates an ATR-based positioning system, ensuring that each bubble is placed accurately on the chart for easy interpretation. Whether you're an experienced trader or new to the market, this indicator provides clear insights into market activity, helping you make more informed trading decisions.
Volume Spread Analysis (VSA) is a trading methodology that analyzes the relationship between volume, price, and the spread (range) of a price bar. It was developed by Tom Williams, who combined his experience as a trader with principles derived from Richard D. Wyckoff's work on market manipulation.
Key Concepts of VSA:
Volume: The amount of a particular asset traded during a specific time period. In VSA, volume is a key indicator of market activity and is used to understand the strength or weakness behind price movements.
Spread: The range between the high and low of a price bar. The spread, when analyzed in conjunction with volume, can indicate whether the market is being driven by strong or weak hands.
Price: The actual value at which an asset is traded. VSA looks at price in relation to volume and spread to identify the intentions of smart money (large institutional traders).
How VSA Works:
VSA aims to uncover the footprints of smart money by analyzing the volume and price spread. The core idea is that significant price movements accompanied by high volume indicate the involvement of professional traders, while price movements on low volume might suggest that the move lacks conviction or is driven by retail traders.
VSA in Practice:
High Volume, Narrow Spread: This could indicate supply coming into the market as professional traders sell into the buying pressure, leading to potential price weakness.
High Volume, Wide Spread, Price Up: This often suggests strong buying interest, with smart money pushing prices higher.
Low Volume, Wide Spread: A sign of a potential weak market, where price is moving without strong participation, indicating that the move may not be sustainable.
Applications:
VSA is particularly useful for identifying potential turning points in the market, understanding market sentiment, and anticipating future price movements based on the actions of smart money. Traders who use VSA often combine it with other technical analysis tools to build a comprehensive trading strategy.
Your "VSA Wyckoff Volume" indicator, by categorizing volume into distinct levels and visualizing it on the chart, provides an enhanced way to apply VSA principles and understand the underlying market dynamics.
ICT Balanced Price Range [TradingFinder] BPR | FVG + IFVG🔵 Introduction
The ICT Balanced Price Range (BPR) indicator is a valuable tool that helps traders identify key areas on price charts where a balance between buyers and sellers is established. These zones can serve as critical points for potential price reversals or continuations.
🟣 Bullish Balanced Price Range
A Bullish BPR forms when a buying pressure zone (Bullish FVG) overlaps with a Bullish Inversion FVG. This overlap indicates a high probability of price moving upwards, making it a crucial area for traders to consider.
🟣 Bearish Balanced Price Range
Similarly, a Bearish BPR is created when a selling pressure zone (Bearish FVG) overlaps with a Bearish Inversion FVG. This zone is often seen as a key area where the price is likely to move downward.
🔵 How to Use
🟣 Identifying the Balanced Price Range (BPR)
To identify the Balanced Price Range (BPR), you must first locate two Fair Value Gaps (FVGs) on the price chart. One FVG should be on the sell side, and the other on the buy side. When these two FVGs horizontally oppose each other, the area where they overlap is recognized as the Balanced Price Range (BPR).
This BPR zone is highly sensitive to price movements due to the combination of two FVGs, often leading to strong market reactions. As the price approaches this area, the likelihood of a significant market move increases, making it a prime target for professional traders.
🟣 Bullish Balanced Price Range (Bullish BPR)
To effectively trade using a Bullish BPR, begin by identifying a bullish market structure and searching for bullish Price Delivery Arrays (PD Arrays). Once the market structure shifts to bullish in a lower time frame, locate a Bullish FVG within the Discount Zone that overlaps with a Bearish FVG.
Mark this overlapping zone and wait for the price to test it before executing a buy trade. Alternatively, you can set a Buy Limit order with a stop loss below the recent swing low and target profits based on higher time frame liquidity draws.
🟣 Bearish Balanced Price Range (Bearish BPR)
For bearish trades, start by identifying a bearish market structure and look for bearish PD Arrays. After the market structure shifts to bearish in a lower time frame, identify a Bearish FVG within the Discount Zone that overlaps with a Bullish FVG. Mark this overlapping zone and execute a sell trade when the price tests it.
You can also use a Sell Limit order with a stop loss above the recent swing high and target profits according to higher time frame liquidity draws.
🔵 Settings
🟣 Global Settings
Show All Inversion FVG & IFVG : If disabled, only the most recent FVG & IFVG will be displayed.
FVG & IFVG Validity Period (Bar) : Determines the maximum duration (in number of candles) that the FVG and IFVG remain valid.
Switching Colors Theme Mode : Includes three modes: "Off", "Light", and "Dark". "Light" mode adjusts colors for light mode use, "Dark" mode adjusts colors for dark mode use, and "Off" disables color adjustments.
🟣 Display Settings
Show Bullish BPR : Toggles the display of demand-related boxes.
Show Bearish BPR : Toggles the display of supply-related boxes.
Mitigation Level BPR : Options include "Proximal", "Distal", or "50 % OB" modes, which you can choose based on your needs. The "50 % OB" line is the midpoint between distal and proximal.
Show Bullish IFVG : Toggles the display of demand-related boxes.
Show Bearish IFV G: Toggles the display of supply-related boxes.
Mitigation Level FVG and IFVG : Options include "Proximal", "Distal", or "50 % OB" modes, which you can choose based on your needs. The "50 % OB" line is the midpoint between distal and proximal.
🟣 Logic Settings
FVG Filter : This refines the number of identified FVG areas based on a specified algorithm to focus on higher quality signals and reduce noise.
Types of FVG filters :
Very Aggressive Filter : Adds a condition where, for an upward FVG, the last candle's highest price must exceed the middle candle's highest price, and for a downward FVG, the last candle's lowest price must be lower than the middle candle's lowest price. This minimally filters out FVGs.
Aggressive Filter : Builds on the Very Aggressive mode by ensuring the middle candle is not too small, filtering out more FVGs.
Defensive Filter : Adds criteria regarding the size and structure of the middle candle, requiring it to have a substantial body and specific polarity conditions, filtering out a significant number of FVGs.
Very Defensive Filte r: Further refines filtering by ensuring the first and third candles are not small-bodied doji candles, retaining only the highest quality signals.
🟣 Alert Settings
Alert Inversion FVG Mitigation : Enables alerts for Inversion FVG mitigation.
Message Frequency : Determines the frequency of alerts. Options include 'All' (every function call), 'Once Per Bar' (first call within the bar), and 'Once Per Bar Close' (final script execution of the real-time bar). Default is 'Once per Bar'.
Show Alert Time by Time Zone : Configures the time zone for alert messages. Default is 'UTC'.
Display More Info : Provides additional details in alert messages, including price range, date, hour, and minute. Set to 'Off' to exclude this information.
🔵 Conclusion
The ICT Balanced Price Range is a powerful and reliable tool for identifying key points on price charts. This strategy can be applied across various time frames and serves as a complementary tool alongside other indicators and technical analysis methods.
The most crucial aspect of utilizing this strategy effectively is correctly identifying FVGs and their overlapping areas, which comes with practice and experience.
Machine Learning Adaptive SuperTrend [AlgoAlpha]📈🤖 Machine Learning Adaptive SuperTrend - Take Your Trading to the Next Level! 🚀✨
Introducing the Machine Learning Adaptive SuperTrend , an advanced trading indicator designed to adapt to market volatility dynamically using machine learning techniques. This indicator employs k-means clustering to categorize market volatility into high, medium, and low levels, enhancing the traditional SuperTrend strategy. Perfect for traders who want an edge in identifying trend shifts and market conditions.
What is K-Means Clustering and How It Works
K-means clustering is a machine learning algorithm that partitions data into distinct groups based on similarity. In this indicator, the algorithm analyzes ATR (Average True Range) values to classify volatility into three clusters: high, medium, and low. The algorithm iterates to optimize the centroids of these clusters, ensuring accurate volatility classification.
Key Features
🎨 Customizable Appearance: Adjust colors for bullish and bearish trends.
🔧 Flexible Settings: Configure ATR length, SuperTrend factor, and initial volatility guesses.
📊 Volatility Classification: Uses k-means clustering to adapt to market conditions.
📈 Dynamic SuperTrend Calculation: Applies the classified volatility level to the SuperTrend calculation.
🔔 Alerts: Set alerts for trend shifts and volatility changes.
📋 Data Table Display: View cluster details and current volatility on the chart.
Quick Guide to Using the Machine Learning Adaptive SuperTrend Indicator
🛠 Add the Indicator: Add the indicator to favorites by pressing the star icon. Customize settings like ATR length, SuperTrend factor, and volatility percentiles to fit your trading style.
📊 Market Analysis: Observe the color changes and SuperTrend line for trend reversals. Use the data table to monitor volatility clusters.
🔔 Alerts: Enable notifications for trend shifts and volatility changes to seize trading opportunities without constant chart monitoring.
How It Works
The indicator begins by calculating the ATR values over a specified training period to assess market volatility. Initial guesses for high, medium, and low volatility percentiles are inputted. The k-means clustering algorithm then iterates to classify the ATR values into three clusters. This classification helps in determining the appropriate volatility level to apply to the SuperTrend calculation. As the market evolves, the indicator dynamically adjusts, providing real-time trend and volatility insights. The indicator also incorporates a data table displaying cluster centroids, sizes, and the current volatility level, aiding traders in making informed decisions.
Add the Machine Learning Adaptive SuperTrend to your TradingView charts today and experience a smarter way to trade! 🌟📊
Flat Market Scanner [CHE]Flat Market Scanner
Introduction
Welcome to our presentation on the "Flat Market Scanner" for TradingView. This innovative indicator is designed to identify and highlight periods of sideways market movement, providing traders with crucial insights for making informed decisions. Sideways phases are characterized by alternating up and down movements within a narrow price range, lacking a clear directional trend.
The Idea Behind the Flat Market Scanner
The core concept of the Flat Market Scanner is to detect and visualize flat (sideways) market conditions. In such periods, the price of an asset does not exhibit significant upward or downward movements, remaining within a narrow range. These flat markets are often characterized by low volatility and can be challenging for trend-following traders.
How It Works:
1. RSI Analysis: The indicator utilizes the Relative Strength Index (RSI) to measure the speed and change of price movements.
2. Cumulative Test Variable: It calculates the cumulative sum of positive and negative price changes to create a test variable.
3. Flat Period Detection: By examining the highest and lowest values of the test variable over a specified period (`flatPeriod`), the indicator determines if the market is flat.
4. Consecutive Flat Periods: It tracks consecutive periods where the market is flat to identify sustained sideways movement.
5. Visualization: When a flat market is detected, a colored box is drawn on the chart to highlight the flat period. The color of the box indicates the current RSI trend.
Why Flat Markets Pose Risks
Flat markets can present several risks and challenges for traders:
1. Reduced Profit Opportunities: In a flat market, price movements are minimal, leading to limited profit opportunities for traders who rely on significant price swings.
2. False Signals: Sideways markets often generate false signals for technical indicators, leading to potential losses if traders misinterpret these signals as trends.
3. Increased Costs: Frequent trading in a flat market can result in higher transaction costs, eating into potential profits.
4. Psychological Stress: The lack of clear direction can cause frustration and stress, leading traders to make impulsive decisions that deviate from their trading strategy.
Benefits of the Flat Market Scanner
- Clarity: The Flat Market Scanner provides visual clarity on when the market is flat, helping traders avoid entering positions during low-volatility periods.
- Risk Management: By identifying flat periods, traders can better manage their risk and allocate their capital to more promising market conditions.
- Strategic Planning: Understanding when the market is flat allows traders to adjust their strategies, such as focusing on range-bound trading techniques or waiting for breakout opportunities.
Conclusion
The Flat Market Scanner is an essential tool for traders seeking to navigate the complexities of market conditions. By effectively identifying and visualizing flat markets, this indicator empowers traders to make smarter decisions, manage risks, and optimize their trading strategies. Embrace the power of the Flat Market Scanner and enhance your trading experience on TradingView.
Thank you for your attention. Happy trading!
Best regards Chervolino
Internal/External Market Structure [UAlgo]The "Internal/External Market Structure " indicator is a tool designed to identify and visualize internal and external market structure based on swing highs and lows. It helps traders understand short-term (internal) and long-term (external) price behavior.
🔶 What are ChoCH and BoS?
Change of Character (ChoCH)
Change of character refers to the reversal of market trend either from bullish to bearish or bearish to bullish. ChoCH is also a break of market structure but in opposite direction.
If market is in bullish trend but it breaks it previous (higher) low and makes a lower low, it will be termed a “bearish change of character” as price changed its trend from bullish to bearish.
Like wise if price is in bearish trend and it breaks its previous (lower) high making a higher high it will be marked as “bullish change of character” as price changed its trend from bearish to bullish.
Break of Structure (BoS)
When price breaks its structure in direction of previous trend its called break of structure (BoS). So its a trend continuation pattern.
As you know in bullish trend price makes higher highs. Each time when price break a previous high and marks a new high its known as bullish break of structure.
But in bearish trend price makes lower lows so every time when price breaks previous low and makes a new low it is called as bearish break of structure.
🔶 Key Features
Internal Swing Length: Allowing for fine-tuning of sensitivity to smaller, more frequent market movements.
External Swing Length: Focusing on capturing broader market trends.
The indicator differentiates between internal and external market structures, using different styles and colors to represent each. Internal structures are shown with solid lines, while external structures use dashed lines, providing clear visual cues.
Internal Market Structure:
The internal market structure focuses on shorter-term swings and is useful for identifying minor trend changes and short-term price movements. Breaks of internal swing highs or lows can indicate potential changes in the market's direction or momentum. The labels "CHoCH" and "BoS" help distinguish between changes in character and break of structure events, respectively.
External Market Structure:
The external market structure captures larger, more significant market moves. It is particularly useful for identifying major trend changes and key support and resistance levels. The dashed lines and corresponding labels "CHoCH+" and "BoS+" indicate more substantial shifts in market sentiment.
For BoS (Break of Structure):
For ChoCH (Change of Character):
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Order Blocks & Breaker Blocks [TradingFinder] Signals + Alerts🔵 Introduction
Order Block and Breaker Block, are powerful tools in technical analysis. By understanding these concepts, traders can enhance their ability to predict potential price reversals and continuations, leading to more effective trading strategies.
Using historical price action, volume analysis, and candlestick patterns, traders can identify key areas where institutional activities influence market movements.
🟣 Demand Order Block and Supply Breaker Block
Demand Order Block : A Demand Order Block is formed when the price succeeds in breaking the previous high pivot.
Supply Breaker Block : A Supply Breaker Block is formed when the price succeeds in breaking the Demand Order Block. As a result, the Order Block changes its role and turns from the role of price support to resistance.
🟣 Supply Order Block and Demand Breaker Block
Supply Order Block : A Supply Order Block is formed when the price succeeds in breaking the previous low pivot.
Demand Breaker Block : A Demand Breaker Block is formed when the price succeeds in breaking the Supply Order Block. As a result, the Order Block changes its role and turns from the role of price resistance to support.
🔵 How to Use
🟣 Order Blocks (Supply and Demand)
Order blocks are zones where the likelihood of a price reversal is higher. In demand zones, buying opportunities arise, while in supply zones, selling opportunities can be explored.
The "Refinement" feature allows you to adjust the width of the order block to fit your trading strategy. There are two modes in the "Order Block Refine" feature: "Aggressive" and "Defensive." The primary difference between these modes is the width of the order block.
For risk-averse traders, the "Defensive" mode is ideal as it offers a lower loss limit and a higher reward-to-risk ratio.
Conversely, for traders who are willing to take more risks, the "Aggressive" mode is more suitable. This mode, with its wider order block width, caters to those who prefer entering trades at higher prices.
🟣 Breaker Blocks (Supply and Demand)
Trading based on breaker blocks is the same as order blocks and the price in these zones is likely to be reversed.
🔵 Setting
🟣 Global Setting
Pivot Period of Order Blocks Detector : Enter the desired pivot period to identify the Order Block.
Order Block Validity Period (Bar) : You can specify the maximum time the Order Block remains valid based on the number of candles from the origin.
Mitigation Level Order Block : Determining the basic level of a Order Block. When the price hits the basic level, the Order Block due to mitigation.
Mitigation Level Breaker Block : Determining the basic level of a Breaker Block. When the price hits the basic level, the Breaker Block due to mitigation.
Switching Colors Theme Mode : Three modes "Off", "Light" and "Dark" are included in this parameter. "Light" mode is for color adjustment for use in "Light Mode".
"Dark" mode is for color adjustment for use in "Dark Mode" and "Off" mode turns off the color adjustment function and the input color to the function is the same as the output color.
🟣 Order Block Display
Show All Order Block : If it is turned off, only the last Order Block will be displayed.
Demand Main Order Block : Show or not show and specify color.
Demand Sub (Propulsion & BoS Origin) Order Block : Show or not show and specify color.
Supply Main Order Block : Show or not show and specify color.
Supply Sub (Propulsion & BoS Origin) Order Block : Show or not show and specify color.
🟣 Breaker Block Display
Show All Breaker Block : If it is turned off, only the last Breaker Block will be displayed.
Demand Main Breaker Block : Show or not show and specify color.
Demand Sub (Propulsion & BoS Origin) Breaker Block : Show or not show and specify color.
Supply Main Breaker Block : Show or not show and specify color.
Supply Sub (Propulsion & BoS Origin) Breaker Block : Show or not show and specify color.
🟣 Order Block Refinement
Refine Order Blocks : Enable or disable the refinement feature. Mode selection.
🟣 Alert
Alert Name : The name of the alert you receive.
Alert Demand OB Mitigation :
On / Off
Alert Demand BB Mitigation :
On / Off
Alert Supply OB Mitigation :
On / Off
Alert Supply BB Mitigation :
On / Off
Message Frequency :
This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone :
The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
Display More Info :
Displays information about the price range of the order blocks (Zone Price) and the date, hour, and minute under "Display More Info".
If you do not want this information to appear in the received message along with the alert, you should set it to "Off".
RH_Previous Session CloseRaghee Horner Previous Session Close (PSC)
The RH_PSC is an automated Previous Session Close (PSC) indicator to show, at a glance, general market sentiment -- whether the market is generally bullish, bearish or neutral --for the current trading session.
The PSC plots the previous session close from the Daily candle, with a customizable table of data to show the previous price, whether or not the current price is above or below that previous close and the percentage move above or below.
It includes the ability to enable only the last session or to plot for all previous sessions continuously.
The data table is configurable for bearish, bullish or sideways coloring and can be moved to different locations to suite users preferences and charts. It can also be fully disabled.
Defaults are to show all previous sessions in a continuous plot and the data table is disabled.
What is “sentiment”?
Market sentiment reflects investors’ overall attitude toward a symbol, influenced by news, economic reports, and perceptions. It can be bullish, bearish, or neutral and significantly affects trading behavior and price movements. Bullish sentiment typically drives prices up, while bearish sentiment can cause them to fall. Understanding market sentiment is key for trend follow-through.
Why does it matter?
Effectively using sentiment allows for quicker, smarter trading decisions. As an active trader, understanding market sentiment is vital for follow-through. It shows real-time investor feelings, affecting price movements. Gauging sentiment helps you:
Anticipate Breakouts.
Time Entries and Exits.
Increase Probability of Continuation.
Danger Signals from The Trading MindwheelThe " Danger Signals " indicator, a collaborative creation from the minds at Amphibian Trading and MARA Wealth, serves as your vigilant lookout in the volatile world of stock trading. Drawing from the wisdom encapsulated in "The Trading Mindwheel" and the successful methodologies of legends like William O'Neil and Mark Minervini, this tool is engineered to safeguard your trading journey.
Core Features:
Real-Time Alerts: Identify critical danger signals as they emerge in the market. Whether it's a single day of heightened risk or a pattern forming, stay informed with specific danger signals and a tally of signals for comprehensive decision-making support. The indicator looks for over 30 different signals ranging from simple closing ranges to more complex signals like blow off action.
Tailored Insights with Portfolio Heat Integration: Pair with the "Portfolio Heat" indicator to customize danger signals based on your current positions, entry points, and stops. This personalized approach ensures that the insights are directly relevant to your trading strategy. Certain signals can have different meanings based on where your trade is at in its lifecycle. Blow off action at the beginning of a trend can be viewed as strength, while after an extended run could signal an opportunity to lock in profits.
Forward-Looking Analysis: Leverage the 'Potential Danger Signals' feature to assess future risks. Enter hypothetical price levels to understand potential market reactions before they unfold, enabling proactive trade management.
The indicator offers two different modes of 'Potential Danger Signals', Worst Case or Immediate. Worst Case allows the user to input any price and see what signals would fire based on price reaching that level, while the Immediate mode looks for potential Danger Signals that could happen on the next bar.
This is achieved by adding and subtracting the average daily range to the current bars close while also forecasting the next values of moving averages, vwaps, risk multiples and the relative strength line to see if a Danger Signal would trigger.
User Customization: Flexibility is at your fingertips with toggle options for each danger signal. Tailor the indicator to match your unique trading style and risk tolerance. No two traders are the same, that is why each signal is able to be turned on or off to match your trading personality.
Versatile Application: Ideal for growth stock traders, momentum swing traders, and adherents of the CANSLIM methodology. Whether you're a novice or a seasoned investor, this tool aligns with strategies influenced by trading giants.
Validation and Utility:
Inspired by the trade management principles of Michael Lamothe, the " Danger Signals " indicator is more than just a tool; it's a reflection of tested strategies that highlight the importance of risk management. Through rigorous validation, including the insights from "The Trading Mindwheel," this indicator helps traders navigate the complexities of the market with an informed, strategic approach.
Whether you're contemplating a new position or evaluating an existing one, the " Danger Signals " indicator is designed to provide the clarity needed to avoid potential pitfalls and capitalize on opportunities with confidence. Embrace a smarter way to trade, where awareness and preparation open the door to success.
Let's dive into each of the components of this indicator.
Volume: Volume refers to the number of shares or contracts traded in a security or an entire market during a given period. It is a measure of the total trading activity and liquidity, indicating the overall interest in a stock or market.
Price Action: the analysis of historical prices to inform trading decisions, without the use of technical indicators. It focuses on the movement of prices to identify patterns, trends, and potential reversal points in the market.
Relative Strength Line: The RS line is a popular tool used to compare the performance of a stock, typically calculated as the ratio of the stock's price to a benchmark index's price. It helps identify outperformers and underperformers relative to the market or a specific sector. The RS value is calculated by dividing the close price of the chosen stock by the close price of the comparative symbol (SPX by default).
Average True Range (ATR): ATR is a market volatility indicator used to show the average range prices swing over a specified period. It is calculated by taking the moving average of the true ranges of a stock for a specific period. The true range for a period is the greatest of the following three values:
The difference between the current high and the current low.
The absolute value of the current high minus the previous close.
The absolute value of the current low minus the previous close.
Average Daily Range (ADR): ADR is a measure used in trading to capture the average range between the high and low prices of an asset over a specified number of past trading days. Unlike the Average True Range (ATR), which accounts for gaps in the price from one day to the next, the Average Daily Range focuses solely on the trading range within each day and averages it out.
Anchored VWAP: AVWAP gives the average price of an asset, weighted by volume, starting from a specific anchor point. This provides traders with a dynamic average price considering both price and volume from a specific start point, offering insights into the market's direction and potential support or resistance levels.
Moving Averages: Moving Averages smooth out price data by creating a constantly updated average price over a specific period of time. It helps traders identify trends by flattening out the fluctuations in price data.
Stochastic: A stochastic oscillator is a momentum indicator used in technical analysis that compares a particular closing price of an asset to a range of its prices over a certain period of time. The theory behind the stochastic oscillator is that in a market trending upwards, prices will tend to close near their high, and in a market trending downwards, prices close near their low.
While each of these components offer unique insights into market behavior, providing sell signals under specific conditions, the power of combining these different signals lies in their ability to confirm each other's signals. This in turn reduces false positives and provides a more reliable basis for trading decisions
These signals can be recognized at any time, however the indicators power is in it's ability to take into account where a trade is in terms of your entry price and stop.
If a trade just started, it hasn’t earned much leeway. Kind of like a new employee that shows up late on the first day of work. It’s less forgivable than say the person who has been there for a while, has done well, is on time, and then one day comes in late.
Contextual Sensitivity:
For instance, a high volume sell-off coupled with a bearish price action pattern significantly strengthens the sell signal. When the price closes below an Anchored VWAP or a critical moving average in this context, it reaffirms the bearish sentiment, suggesting that the momentum is likely to continue downwards.
By considering the relative strength line (RS) alongside volume and price action, the indicator can differentiate between a normal retracement in a strong uptrend and a when a stock starts to become a laggard.
The integration of ATR and ADR provides a dynamic framework that adjusts to the market's volatility. A sudden increase in ATR or a character change detected through comparing short-term and long-term ADR can alert traders to emerging trends or reversals.
The "Danger Signals" indicator exemplifies the power of integrating diverse technical indicators to create a more sophisticated, responsive, and adaptable trading tool. This approach not only amplifies the individual strengths of each indicator but also mitigates their weaknesses.
Portfolio Heat Indicator can be found by clicking on the image below
Danger Signals Included
Price Closes Near Low - Daily Closing Range of 30% or Less
Price Closes Near Weekly Low - Weekly Closing Range of 30% or Less
Price Closes Near Daily Low on Heavy Volume - Daily Closing Range of 30% or Less on Heaviest Volume of the Last 5 Days
Price Closes Near Weekly Low on Heavy Volume - Weekly Closing Range of 30% or Less on Heaviest Volume of the Last 5 Weeks
Price Closes Below Moving Average - Price Closes Below One of 5 Selected Moving Averages
Price Closes Below Swing Low - Price Closes Below Most Recent Swing Low
Price Closes Below 1.5 ATR - Price Closes Below Trailing ATR Stop Based on Highest High of Last 10 Days
Price Closes Below AVWAP - Price Closes Below Selected Anchored VWAP (Anchors include: High of base, Low of base, Highest volume of base, Custom date)
Price Shows Aggressive Selling - Current Bars High is Greater Than Previous Day's High and Closes Near the Lows on Heaviest Volume of the Last 5 Days
Outside Reversal Bar - Price Makes a New High and Closes Near the Lows, Lower Than the Previous Bar's Low
Price Shows Signs of Stalling - Heavy Volume with a Close of Less than 1%
3 Consecutive Days of Lower Lows - 3 Days of Lower Lows
Close Lower than 3 Previous Lows - Close is Less than 3 Previous Lows
Character Change - ADR of Last Shorter Length is Larger than ADR of Longer Length
Fast Stochastic Crosses Below Slow Stochastic - Fast Stochastic Crosses Below Slow Stochastic
Fast & Slow Stochastic Curved Down - Both Stochastic Lines Close Lower than Previous Day for 2 Consecutive Days
Lower Lows & Lower Highs Intraday - Lower High and Lower Low on 30 Minute Timeframe
Moving Average Crossunder - Selected MA Crosses Below Other Selected MA
RS Starts Curving Down - Relative Strength Line Closes Lower than Previous Day for 2 Consecutive Days
RS Turns Negative Short Term - RS Closes Below RS of 7 Days Ago
RS Underperforms Price - Relative Strength Line Not at Highs, While Price Is
Moving Average Begins to Flatten Out - First Day MA Doesn't Close Higher
Price Moves Higher on Lighter Volume - Price Makes a New High on Light Volume and 15 Day Average Volume is Less than 50 Day Average
Price Hits % Target - Price Moves Set % Higher from Entry Price
Price Hits R Multiple - Price hits (Entry - Stop Multiplied by Setting) and Added to Entry
Price Hits Overhead Resistance - Price Crosses a Swing High from a Monthly Timeframe Chart from at Least 1 Year Ago
Price Hits Fib Level - Price Crosses a Fib Extension Drawn From Base High to Low
Price Hits a Psychological Level - Price Crosses a Multiple of 0 or 5
Heavy Volume After Significant Move - Above Average and Heaviest Volume of the Last 5 Days 35 Bars or More from Breakout
Moving Averages Begin to Slope Downward - Moving Averages Fall for 2 Consecutive Days
Blow Off Action - Highest Volume, Largest Spread, Multiple Gaps in a Row 35 Bars or More Post Breakout
Late Buying Frenzy - ANTS 35 Bars or More Post Breakout
Exhaustion Gap - Gap Up 5% or Higher with Price 125% or More Above 200sma
It's All MidsIt's All Mids extends mid-lines of a candle forward until the price revisits (covers) the midpoint. A higher timeframe can be used for the mid candles than the chart (but not the reverse). There is no data to support this is a meaningful concept.
While this script is intended to be functional, correct and useful it is important that you understand that not only is this the first script I've written but also that "I am an idiot."(tm) Using a stranger's indicator is questionable, but using a self-proclaimed idiot's indicator to trade real money is unquestionably stupid. Don't be like me. Be smart. You are responsible for what you do with this script. The source is unlocked, so feel free to copy and modify it.
Terms:
- A "mid" is the (high+low)/2 price of a previous candle that has not been auctioned since the candle close. All candles will initially have a mid unless they close on exactly their midpoint.
- A "covered" mid is a mid for which the midpoint has been auctioned since the candle closed. There is an option to display a number of these so that when a mid is hit the line doesn't just disappear from the chart and you forget what you were doing.
- A "low priority" mid is the mid of a candle which was auctioned in the previous candle(s) (chart's timeframe, not the mid's timeframe)-- chopchopchop. I have no data to show that this matters, or really, that anything matters at all.
My use: I chart a 60m mid on ES on a 5 or 15 minute chart. I am lying. I use it for something else but if I tell you that then I give away my incredible alpha that has made me so rich I can spend my time crying in corner about all the money I've lost.
Fibonacci Inversion Fair Value Gaps | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Fibonacci Inversion Fair Value Gaps (IFVG) indicator! Inverse Fair Value Gaps occur when a Fair Value Gap becomes invalidated. They reverse the role of the original Fair Value Gap, making a bullish zone bearish and vice versa. This indicator plots the Fibonacci retracement levels of the IFVG, which often act like support & resistance levels.
Features of the new Fibonacci IFVGs Indicator :
Renders Bullish / Bearish IFVG Zones
Renders Fibonacci Retracement Levels Of IFVGs
Combination Of Overlapping FVG Zones
Variety Of Zone Detection / Sensitivity / Filtering / Invalidation Settings
High Customizability
🚩UNIQUENESS
This indicator stands out with its ability to render up to 3 Fibonacci retracement levels of IFVGs. Fibonacci retracement levels are widely used within trading, and we wanted to implement them for IFVG zones. You can also customize the FVG Filtering method, FVG & IFVG Zone Invalidation, Detection Sensitivity etc. according to your needs to get the best performance from the indicator.
📌 HOW DOES IT WORK ?
A Fair Value Gap generally occur when there is an imbalance in the market. They can be detected by specific formations within the chart. An Inverse Fair Value Gap is when a FVG becomes invalidated, thus reversing the direction of the FVG.
This indicator renders 0.618, 0.5 and 0.382 (can be changed from the settings) Fibonacci retracement levels of the IFVGs, which often act as support and resistances. Check this example :
⚙️SETTINGS
1. General Configuration
FVG Zone Invalidation -> Select between Wick & Close price for FVG Zone Invalidation.
IFVG Zone Invalidation -> Select between Wick & Close price for IFVG Zone Invalidation. This setting also switches the type for IFVG consumption.
Zone Filtering -> With "Average Range" selected, algorithm will find FVG zones in comparison with average range of last bars in the chart. With the "Volume Threshold" option, you may select a Volume Threshold % to spot FVGs with a larger total volume than average.
FVG Detection -> With the "Same Type" option, all 3 bars that formed the FVG should be the same type. (Bullish / Bearish). If the "All" option is selected, bar types may vary between Bullish / Bearish.
Detection Sensitivity -> You may select between Low, Normal or High FVG detection sensitivity. This will essentially determine the size of the spotted FVGs, with lower sensitivies resulting in spotting bigger FVGs, and higher sensitivies resulting in spotting all sizes of FVGs.
Show Historic Zones -> If this option is on, the indicator will render invalidated IFVG zones as well as current IFVG zones. For a cleaner look at current IFVG zones which are not invalidated yet, you can turn this option off.
2. Fibonacci Retracement Levels
You can enable / disable up to 3 different Fibonnaci Retracement levels at this group of settings. You can also switch their line styles between solid, dashed and dotted as well as changing their colors.
Logarithmic Volatility Direction Index [IkkeOmar]The LVDI is a Mean-Reversion Indicator. it doesn't detect trends and does not give a signal per se.
What it does is tell you if we have a flashcrash based on the price action and volume that is available. It is not always easy to see with the naked eye, so this indicator can help you DCA into an asset in a smarter way, if you couple it with other trend systems.
Think of this indicator like a form of a volatility index.
Inputs:
len and lenWMA are integers representing different lengths for calculations, and src is the data source
Keep in mind that "Length" is the lookback for the WMA, and the Length smooting is the lookback for the SMA of the "volume_weighted".
WMA Calculation
wma_basic = math.log10(ta.wma(src, len))
This calculates the logarithm (base 10) of the Weighted Moving Average (WMA) of the source data over len periods. WMA is a type of moving average giving more importance to recent data. The reason I use log10, is to make it transformative over a longer timeframe. This makes it easier to see the growth direction. I like to use this for crypto, since there is asymetric upside.
Volume Filter:
average_volume = ta.sma(volume, lenWMA)
volume_weighted = math.log10(wma_basic * (volume / math.log10(average_volume)))
Here, the script first calculates the Simple Moving Average (SMA) of the trading volume over lenWMA periods. Then, it computes a volume-weighted value of the WMA, adjusted by the logarithmic ratio of current volume to average volume.
Distance and Score Calculation:
distance = math.log10(src) - math.log10(volume_weighted)
score = math.sign(distance) * math.pow(math.abs(distance), 2)
The script calculates the logarithmic difference between the source data and the volume-weighted WMA. The score is determined by the sign of this distance multiplied by its square. This potentially amplifies the impact of larger distances.
Plotting:
plot(volume_weighted, title="Volume Weighted WMA", color=color.blue, linewidth = 2)
plot(ta.sma(volume_weighted, lenWMA), title="Volume Weighted WMA", color=color.rgb(189, 160, 0))
Mathematical concepts
Weighted Moving Average (WMA):
WMA is a moving average that assigns more weight to recent data points. The idea is that recent prices are more relevant to the current trend than older prices.
Logarithms:
The use of log10 (logarithm base 10) is interesting. Logarithms help in normalizing data and can make certain patterns more visible, especially when dealing with exponential growth or decay.
Volume Weighting:
Multiplying the WMA by the ratio of current volume to average volume (both logarithmic) integrates volume into the analysis. High trading volume can signify stronger market interest and can thus validate price movements.
Distance and Score:
The distance measures how far the current price is from the volume-weighted WMA on a logarithmic scale. The score squares this distance, potentially highlighting large divergences.
Case example
In the case above (which is a low timeframe that shouldn't be your main system) we see the blue line going up before going below the moving average line (orange). This indicates a local bottom zone. Does that mean that we wont go lower? No! What you can do is calculate a zone range.
We have an average line, you can get that from the POC with the VRVP.
Then you take the low and high of that zone and take the average:
(3.17% + 2.33%) / 2 = 2.75%
This means that we expect that the price can fall an additional 2.75%! Low and behold. When you check the same chart as above:
Hope it makes sense!
Stay safe everyone!
Don't hesitate to ask any questions if you have any!
Volume Spread Analysis [Ahmed]Greetings everyone,
I'm thrilled to present a Pine Script I've crafted for Volume Spread Analysis (VSA) Indicator. This tool is aimed at empowering you to make smarter trading choices by scrutinizing the volume spread across a specified interval.
The script delivers a comparative volume analysis, permitting you to fix the type and length of the moving average. It subsequently delineates the moving average (MA), MA augmented by 1 standard deviation (SD), and MA increased by 2 SD. You can fully personalize the color coding for these echelons.
Volume Spread Analysis is an analytical technique that scrutinizes candles and the volume per candle to predict price direction. It considers the volume per candle, the spread range, and the closing price.
To effectively leverage VSA, you need to adhere to a few steps:
1. Ensure you use candlesticks for trading. Other chart types like line, bar, and renko charts may not yield optimal results.
2. Confirm that your broker provides reliable volume data.
3. Be mindful of the chart's timeframe. Volume analysis may not be effective on very short timeframes such as a minute chart. I recommend using daily, weekly, or monthly charts.
Another tip is to examine the spread between the price bars and the volume bars to discern the trend.
The script not only makes it easier to integrate these principles into your trading but also brings precision and convenience to your analysis.
Please remember to adhere to Tradinview terms of service when using the script. Happy trading!
HTF Candle Insights (Expo)█ Overview
The HTF Candle Insights indicator helps traders see what's happening in larger time frames (HTF) while they're looking at smaller ones. This tool lets traders get a complete picture of market trends and price movements, helping them make smarter trading choices. It's really useful for traders who want to understand the main market trends without constantly switching between different chart timeframes.
In simpler terms , this indicator brings the big picture into the smaller frame, so traders don't miss out on what's important while focusing on the details.
█ How It Works
The indicator plots HTF candles on the existing chart, allowing users to view them concurrently with the candles of the current timeframe. This dual visual representation helps in discerning the prevalent market trends and significant price levels from both the current and higher timeframes.
█ How to Use
Trend Analysis
Traders can leverage this indicator to analyze overall market trends by observing HTF candles alongside the current timeframe candles. Recognizing HTF trends aids in aligning trades with the dominant market movement, potentially increasing the probability of successful trades.
Support and Resistance Identification
By viewing the high, low, and mid-levels of HTF candles, traders can identify potential support and resistance zones, enabling them to establish strategic entry and exit points, place stop-losses effectively, and manage risk proficiently.
█ Settings
Timeframe and Candle Amount:
Users can specify the higher timeframe and the number of HTF candles they wish to visualize on their current chart.
Visual Adjustments:
Traders can customize the color schemes for upward and downward candles and their wicks, and adjust the visibility and colors of the range lines, allowing for a tailored visual experience.
Range Lines:
Users have the option to display the high/low range of the displayed candles, and, if preferred, the mid-range line, enabling them to gain insights into significant price levels and ranges.
Table Display:
The indicator offers the ability to display a table, which provides an overview of the current chart's timeframe and the specified HTF.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Incomplete Session Candle - Incomplete Timeframe Candle Marker The "Incomplete Session Candle - Incomplete Timeframe Candle Marker" is an advanced tool tailored for technical analysts who understand the importance of accurate timeframes in their charting. While the indicator is not limited to the Indian market, its genesis is rooted in the nuances of trading sessions like those in India, which span 375 minutes from 9:15 AM to 3:30 PM.
Key Features:
Detects if the current timeframe is intraday (minutes or hours).
Calculates the expected duration of the candle for the chosen timeframe.
Highlights candles that don't achieve their expected session duration by placing a cross shape above the bar.
Compatible across various intraday timeframes, aiding traders in spotting discrepancies promptly.
Why We Made This: Not Just for India:
While we looked at the Indian market, this indicator works everywhere. Regular timeframes like 30 minutes, 1 hour, and 2 hours often end with incomplete candles, especially at the end of the trading day. For example:
A 30-minute timeframe makes 13 candles, but the last one is only 15 minutes long.
A 1-hour timeframe shows 7 candles, but the last one is just the last 15 minutes.
By switching to different timeframes like 25 minutes, 75 minutes, and 125 minutes, you get more complete information for better trading decisions. Learn more about this in our article: "Power of 25, 75, and 125-Minute Timeframes in the Indian Market", recognized by Trading View's Editors' Pick.
Benefits:
The indicator extends its benefits even to users without access to certain timeframes. It accommodates traders using a 1-hour timeframe (pertaining to Indian traders). By employing this indicator, traders consistently remain mindful of incomplete candles within their chosen timeframe
For those who utilize concepts like RBR, RBD, DBR, and DBD, this indicator is paramount. An incomplete candle can skew analysis, leading to potential misinterpretations of base or leg candles.
Final thoughts:
In markets like the Indian stock market, adopting such a tool is not just beneficial, but necessary. Whether you have access to unconventional timeframes or are using traditional ones, recognizing and accounting for the limitations of incomplete candles is critical & it's important to know if your candles fit the timeframe properly. This indicator gives you a better view of the market, which helps you make smarter trades.
Lastly, Thank you for your support! Your likes & comments. If you want to give any feedback then you can give in comment section.
Let's conquer the markets together!
HTF Oscillators RSI/ROC/MFI/CCI/AO - Dynamic SmoothingThe Interplay of Time Frames: A Balanced View
Navigating the markets often involves interpreting trends from multiple angles. The HTF Oscillators with Dynamic Smoothing indicator enables you to do just that. This tool provides the option to integrate smoothed oscillator readings from Higher Time Frames (HTF) into lower time frame charts, such as a 1-minute chart. By doing so, the indicator offers a balanced viewpoint that bridges the gap between micro and macro perspectives, helping you make informed decisions without losing sight of the broader market context.
Features
Multi-Oscillator Support
Choose from a range of popular oscillators like the Relative Strength Index (RSI), Rate of Change (ROC), Money Flow Index (MFI), Commodity Channel Index (CCI), and Awesome Oscillator (AO). These oscillators are commonly used as foundational building blocks in trading strategy scripts by traders worldwide. Switch effortlessly between them, depending on your trading strategy and requirements. To maintain consistency and a familiar user experience, our script adopts the same visual aesthetics that you'll find in Pine Script indicators on TradingView: a sleek purple line for the oscillator and a transparent band filling. These visual elements are not only pleasing to the eye but also widely appreciated by the trading community.
Dynamic Smoothing
The unique dynamic smoothing feature calculates a smoothing factor based on the ratio of minutes between the Higher Time Frame (HTF) and your current time frame. This provides a sleek and responsive oscillator line that still holds the weight of the longer trend. One of the significant advantages of this feature is user experience; when you change your time frame, the HTF-values in your settings will remain consistent. This ensures that you can easily switch between different time frames without losing the insights provided by your selected HTF.
Visual Aids
Visual cues are an essential part of any trading strategy. The indicator not only plots signals to mark overbought and oversold conditions based on the dynamically smoothed oscillator but also provides you with the flexibility to customize your visual experience. You have the option to toggle on/off the display of these signals depending on your specific needs. Additionally, bands can be displayed at overbought and oversold levels, along with a reference middle line. If you switch between different oscillators (available in the parameter settings), remember to manually adjust the bands in the input settings to ensure signals matches with the type of oscillator to your liking.
User-Friendly Settings
We've grouped related settings together, making it easier for you to find what you're looking for. Adjust the oscillator type, length of bars, smoothing settings, and more with just a few clicks.
Information Table
A standout feature of this indicator is the real-time information table, which displays the values of all selected oscillators based on your specified Higher Time Frame (HTF) settings. This can be particularly useful for traders who depend on multiple indicators for their decision-making process. The data presented in the table is synchronized with the HTF options you've configured in the input settings, allowing for a more efficient and quick scan of values from higher time frames.
Educational Corner: The Power of the Information Table and Customization
The table incorporated into this indicator isn't just eye-candy; it's a practical tool designed to elevate your trading strategy. It dynamically displays real-time values of various oscillators for the HTF you've chosen. This is an exemplary use of TradingView's scripting capabilities to blend multiple indicators into a single visual panel, streamlining your analysis and decision-making process.
But here's the best part: You're not limited to what we've created. With some basic understanding of TradingView's scripting language, Pine Script, you can easily adapt this table to include different indicators that suit your unique trading style. The logic in the script is modular and can serve as a foundation for your own customized trading dashboard. So, go ahead, get creative and explore new combinations of indicators that will help you excel in your trading endeavors!
You no longer have to toggle between different charts or indicators to get the information you need; it's all there in one neatly organized table. We encourage you to tap into this feature and make it your own, empowering your trading like never before.
By doing so, you not only gain a more comprehensive toolset, but you also engage more deeply with your trading strategy, understanding its nuances and, ultimately, making more informed decisions.
Conclusion
The HTF Oscillators with Dynamic Smoothing is a versatile and powerful tool that brings together the best of both worlds: the perspective of higher time frames and the granularity of shorter ones. Its feature-rich setting options and real-time information table make it a potential useful addition to your trading toolkit.
Remember, while this indicator offers a comprehensive and smarter way to look at the markets, it is not a foolproof method for predicting market movements. Always use it in conjunction with other analysis methods and risk management strategies.
