Market Structures SMC [TradingFinder] BOS/CHoCH Major & Minor🟣Introduction
Understanding market structure involves analyzing market behavior. In other words, market structure encompasses how the market forms and evolves within trends.
Market structures are typically fractal and nested, so we categorize them into internal (minor) and external (major) structures. There are various definitions of market structure, with different approaches such as Smart Money and ICT providing their own interpretations.
🟣How to Use
The first step in identifying market structure is to analyze key highs and lows. An uptrend is formed when highs and lows are successively higher than previous ones. Similarly, in a downtrend, lows and highs are successively lower than previous ones.
Market trends consist of two types of movements :
•Impulsive movements
•Corrective movements
Impulsive movements align with the main trend and possess high strength and momentum. Conversely, corrective movements go against the main trend and have lower strength and momentum. The following example illustrates these concepts.
🔵 Identifying Break of Structure (BOS)
In a specific trend, for example in a downtrend, when the price breaks below the previous low and forms a new low (LL), a Break of Structure occurs. In an uptrend, a BOS (Market Structure Break or MSB) happens when the price rises and surpasses the last high.
We need at least one BOS to confirm a trend. Breaking above or below the previous high or low must be confirmed by closing at least one candle after that level.
🔵 Identifying Change of Character (CHOCH)
Change of Character (CHOCH) is a key concept in market structure analysis. A change in structure signals a trend change. In other words, a trend ends with a CHOCH (Market Structure Shift or MSS). For instance, in a downtrend, the price declines with BOS.
BOS indicates the strength of the trend, but when the price increases and surpasses the last high, a CHOCH occurs, signaling a shift from a downtrend to an uptrend.
This does not mean entering a buy trade; instead, we should wait for a BOS in the upward direction to confirm the uptrend. Unlike BOS, confirming a CHOCH does not require a candle to close; simply breaking above or below the previous high or low with the candle's wick is sufficient. The following examples show bearish and bullish CHOCH.
🔵 Range Market Structure
Besides uptrends and downtrends, a third structure often found in the market is the range or sideways structure. In this state, the power of buyers and sellers is almost equal, and the market lacks a clear trend.
Many traders believe that the Forex market ranges 80% of the time. Therefore, it requires a lot of patience to wait for a new trend to start.
🟣 Settings
Through the settings, you can customize the display, visibility, and color of each line as desired.
Cerca negli script per "smart"
ZigZag Smart Trend [TradingFinder] Major & Minor Structured Wave🔵 Introduction
🟣 Zigzag
Zigzag is a lagging indicator; this indicator identifies points on a price chart that have more significant changes than its previous wave and then by connecting these lines to each other, it assists traders in trend detection.
This indicator reduces random price fluctuations and attempts to make the primary price trend clearer.
🟣 Pivot
Pivots are points where the price chart changes direction. Pivots, also called reversal points, form when supply and demand forces dominate one another.
Different types of technical analysis pivots can be introduced into two categories, minor pivots, and major pivots, each of which has a specific meaning in analysis.
Major Pivot : These pivots actually indicate major changes in the direction of the chart and occur at the end of trends. Analysts seeking to reach the primary analysis focus more on major pivot points. In fact, most technical analysis tools are examined and determined based on major pivots.
Minor Pivot : This type of pivot focuses more on small and subsidiary points and directions. Therefore, it occurs at the end of corrections. Analysts focusing on minor pivots represent small trends, and it should be noted that minor pivots are not suitable for use in primary technical tools.
How to identify minor and major pivots :
Minor pivots are pivots formed between two major pivots and fail to break the opposite major pivot.
Major pivots are pivots that have either successfully broken the opposite pivot or have moved more than the previous pivot of the same type.
🔵 How to use
Based on identifying pivots and drawing zigzag lines, you can have various uses for this indicator.
Identifying support and resistance levels :
Identifying Elliott Waves :
Identifying classic patterns :
Identifying pivots with higher validity :
Identifying internal and external breakouts :
Identifying trends and range areas :
Identifying pivot types along with major and minor recognition :
MHH : Major Higher High
MLH : Major Lower High
MLL : Major Lower Low
MHL : Major Higher Low
mHH : Minor Higher High
mLH : Minor Lower High
mLL : Minor Lower Low
mHL : Minor Higher Low
🔵 Settings
Pivot Period Zigzag Line : Using this input, you can determine the pivot period for identifying zigzag swings.
Show Zigzag Line : To show or not to show the zigzag line.
Zigzag Line Color : Change the color of the zigzag line.
Zigzag Line Style : Change the Style of the zigzag line.
Zigzag Line Width : Change the Width of the zigzag line.
Show Label : To show or not to show Pivot Type.
Color Label : Change the color of the Pivot Type Label.
7 hours a day by Yasser (YWMAAAWORLD)Hey there, traders! Today, we're diving into a nifty Pine Script called "7 hours a day," crafted by me Yasser (YWMAAAWorld). So, what's the scoop?
Imagine having a tool that highlights specific times on your chart like clockwork, making your trading day a breeze. That's precisely what this script does. It's like having a personal assistant reminding you of the important moments in the market.
Picture this: as the clock strikes 8:00 PM and 3:00 AM, our script draws these magical lines on your chart. These aren't just any lines; they're your guides, marking the boundaries of a crucial 7-hour period. Think of it as your trading sanctuary within the chaos of the market.
But wait, there's more! Our script isn't just about pretty lines. It's smart too. It knows when it's a weekend or Monday morning, so you can kick back and relax without unnecessary clutter on your chart.
Now, here's where the magic really happens. Within these 7-hour windows, our script calculates the highest and lowest price points, giving you a clear picture of market dynamics during those crucial hours. It's like having a crystal ball revealing the market's secrets.
So, whether you're a seasoned trader or just starting, "7 hours a day" is your trusty sidekick, guiding you through the twists and turns of the market with style and precision. Say goodbye to guesswork and hello to clarity in your trading journey!
it is believed that market ranges within these 7-hour windows, and when broken up or down you could expect a momentum price movement.
Price and Volume Breakout Buy Strategy [TradeDots]The "Price and Volume Breakout Buy Strategy" is a trading strategy designed to identify buying opportunities by detecting concurrent price and volume breakouts over a specified range of candlesticks.
This strategy is optimized for assets demonstrating high volatility and significant momentum spikes.
HOW IT WORKS
The strategy first takes the specific number of candlesticks as the examination window for both price and volume.
These values are used as benchmarks to identify breakout conditions.
A trade is initiated when both the closing price and the trading volume surpass the maximum values observed within the predetermined window.
Price must be above a designated moving average, serving as the trend indicator, ensuring that all trades align with the prevailing market trend.
APPLICATION
This strategy is particularly effective for highly volatile assets such as Bitcoin and Ethereum, capitalizing on the cues from sudden price and volume breakouts indicative of significant market movement, often driven by market smart money traders.
However, for broader markets like the S&P 500, this strategy may be less effective due to less pronounced volume and price shifts compared to the cryptocurrency markets.
DEFAULT SETUP
Commission: 0.01%
Initial Capital: $10,000
Equity per Trade: 70%
Backtest result sometimes gives fewer than 100 trades under certain higher timeframes, as most trades tend to have a long holding period. Entry conditions are also more stringent, which, combined with the relatively brief history of cryptocurrencies, results in fewer trades on longer timeframes.
Users are advised to adjust and personalize this trading strategy to better match their individual trading preferences and style.
RISK DISCLAIMER
Trading entails substantial risk, and most day traders incur losses. All content, tools, scripts, articles, and education provided by TradeDots serve purely informational and educational purposes. Past performances are not definitive predictors of future results.
MTF OB Supply Demand ZonesHello everyone,
This exceptional indicator provides you with visual representations of bullish and bearish order blocks or supply and demand zones across multiple timeframes. In simple terms, bullish order blocks are represented by a small red candle followed by a large red candle, while bearish order blocks are depicted as a small green candle followed by a large red candle. Supply and demand zones are drawn by using order blocks.
Features:
Display order blocks from up to three different timeframes.
Customize the maximum number of boxes shown and the colors of the zones.
Choose from three different modes: OB (Order Block), Extended OB, and Supply/Demand.
Mode Descriptions:
OB: Includes the body of the candle.
Extended OB: Encompasses the body and wick of the candle.
Supply/Demand: Covers the body, wick, and half the body of the large candle.
Usage:
Ensure that charts 2 and 3 are set to a higher timeframe. For modes 2 and 3, it’s recommended to reduce the maximum number of boxes shown. The zones or boxes are transparent, allowing for overlap. This feature aids in identifying reversal zones or confirmed zones. The more intense the color, the stronger the confirmation. If a green zone overlaps a red zone (or vice versa), it signifies a reversal zone.
Thank you for checking out this indicator!
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Additional Information:
Order blocks refer to specific price areas where large market participants, such as institutional traders, have previously placed significant buy or sell orders. These clusters of orders can impact price movement, liquidity, and market sentiment.
Order blocks are a strategic approach to identifying key levels of support and resistance based on the behavior of institutional traders. These key levels are then utilized as entry or exit points for trades.
An order block is an area where there has been a large concentration of limit orders awaiting execution. These blocks are identified on a chart by observing previous price action and pinpointing areas where the price experienced significant movement or abrupt changes in direction.
Order blocks are used in the following popular trading philosophies:
Smart Money Concepts (SMC)
Inner Circle Trading (ICT)
Price Action
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Credits to: @AGFXTRADING
Channels With NVI Strategy [TradeDots]The "Channels With NVI Strategy" is a trading strategy that identifies oversold market instances during a bullish trading market. Specifically, the strategy integrates two principal indicators to deliver profitable opportunities, anticipating potential uptrends.
2 MAIN COMPONENTS
1. Channel Indicators: This strategy gives users the flexibility to choose between Bollinger Band Channels or Keltner Channels. This selection can be made straight from the settings, allowing the traders to adjust the tool according to their preferences and strategies.
2. Negative Volume Indicator (NVI): An indicator that calculates today's price rate of change, but only when today's trading volume is less than the previous day's. This functionality enables users to detect potential shifts in the trading volume with time and price.
ENTRY CONDITION
First, the assets price must drop below the lower band of the channel indicator.
Second, NVI must ascend above the exponential moving average line, signifying a possible flood of 'smart money' (large institutional investors or savvy traders), indicating an imminent price rally.
EXIT CONDITION
Exit conditions can be customized based on individual trading styles and risk tolerance levels. Traders can define their ideal take profit or stop loss percentages.
Moreover, the strategy also employs an NVI-based exit policy. Specifically, if the NVI dips under the exponential moving average – suggestive of a fading trading momentum, the strategy grants an exit call.
RISK DISCLAIMER
Trading entails substantial risk, and most day traders incur losses. All content, tools, scripts, articles, and education provided by TradeDots serve purely informational and educational purposes. Past performances are not definitive predictors of future results.
ICT Silver Bullet Vertical Lines by Fahmi EshaqThis indicator is designed for users interested in backtesting the Silver Bullet strategy. It eliminates the need for manual drawing of vertical lines by automatically highlighting specific times known as ICT Silver Bullet times. These times correspond to periods when smart money are active the market. The indicator marks these Silver Bullet times with vertical lines, making them easily identifiable. The specified Silver Bullet times are 3AM-4AM, 10AM-11AM, and 2PM-3PM New York time. Additionally, a vertical line is added at 12:00AM to demarcate the start of each day, as days begin at midnight.
CBO (Candle Bias Oscillator)The Candle Bias Oscillator (CBO) with volume and ATR scaling is a unique technical analysis tool designed to capture market sentiment through the analysis of candlestick patterns, volume momentum, and market volatility. This indicator is built on the foundation of assessing the bias within a candlestick's body and wicks, adjusted for market volatility using the Average True Range (ATR), and further refined by comparing the Rate of Change (ROC) in volume and the adjusted bias. The culmination of these calculations results in the CBO, a smoothed oscillator that highlights potential market turning points through divergence analysis.
Key Features:
Bias Calculations: Utilizes the relationship between the candle's body and wicks to determine the market's immediate bias, offering a nuanced view beyond simple price action. Have you ever wanted to quantify exactly how bullish or bearish a particular candle or candlestick pattern is? Whether it's dojis, hammers, engulfing, gravestones, evening morning star, three soldiers etc. you don't have to memorize 50 candlestick patterns anymore.
Volatility Adjustment: Employs the ATR to adjust the bias calculation, ensuring the oscillator remains relevant across varying market conditions by accounting for volatility.
Momentum and Divergence: Measures the momentum in volume and bias through ROC calculations, identifying divergence that may signal reversals or significant price movements.
Signal Line: A smoothed version of the CBO, derived from its own values, serving as a benchmark for identifying potential crossovers and divergences.
Utility and Application:
The CBO with Divergence Scaling is developed for traders who seek a deeper understanding of market dynamics beyond price movements alone. It is particularly useful for identifying potential reversals or continuation patterns early, by highlighting divergence between market sentiment (as expressed through candlestick bias) and actual volume movements. In this way, it aligns us retail traders with institutional traders and smart money. This indicator is versatile and can be applied across various time frames and market instruments, offering value to both short-term traders and long-term investors.
How to Use:
Trend Identification: The direction and value of the CBO provide insights into the prevailing market trend. A positive oscillator value may indicate bullish sentiment, while a negative value suggests bearish sentiment.
Signal Line Crossovers: Crossovers between the CBO and its signal line can be used as potential buy or sell signals. A crossover above the signal line might indicate a buying opportunity, whereas a crossover below could suggest a selling point.
Divergence: Discrepancies between the CBO and price action (especially when confirmed by volume ROC) can highlight potential reversals.
Customization and Parameters: This script allows users to adjust several parameters, including oscillator periods, signal line periods, ATR periods, and ROC periods for divergence, to best fit their trading strategy and the characteristics of the market they are analyzing.
Conclusion:
The Custom Bias Oscillator with Divergence Scaling is a comprehensive tool designed to offer traders a multi-faceted view of market conditions, combining elements of price action, volatility, and momentum. By integrating these aspects into a single indicator, it aims to provide a more rounded and actionable insight into market trends and potential turning points.
To comply with best practices and ensure clarity regarding the informational nature of the Custom Bias Oscillator (CBO) tool, it's crucial to include a disclaimer about the non-advisory nature of the script. Here's a suitable disclaimer that you can add to the end of your script description or publication:
Disclaimer:
The Custom Bias Oscillator (CBO) with Divergence Scaling and its accompanying analysis are provided as tools for educational and informational purposes only and should not be construed as financial advice. The creator of this indicator does not guarantee any specific outcomes or profit, and all users should be aware of the risks involved in trading and investing. Users should conduct their own research and consult with a professional financial advisor before making any investment decisions. The use of this indicator is at the user's own risk, and the creator bears no responsibility for any direct or consequential loss arising from any use of this tool or the information provided herein.
Economic Growth Index (XLY/XLP)Keeping an eye on the macroeconomic environment is an essential part of a successful investing and trading strategy. Piecing together and analysing its complex patterns are important to detect probable changing trends. This may seem complicated, or even better left to experts and gurus, but it’s made a whole lot easier by this indicator, the Economic Growth Index (EGI).
Common sense shows that in an expanding economy, consumers have access to cash and credit in the form of disposable income, and spend it on all sorts of goods, but mainly crap they don’t need (consumer discretionary items). Companies making these goods do well in this phase of the economy, and can charge well for their products.
Conversely, in a contracting economy, disposable income and credit dry up, so demand for consumer discretionary products slows, because people have no choice but to spend what they have on essential goods. Now, companies making staple goods do well, and keep their pricing power.
These dynamics are represented in EGI, which plots the Rate of Change of the Consumer Discretionary ETF (XLY) in relation to the Consumer Staples ETF (XLP). Put simply, green is an expanding phase of the economy, and red shrinking. The signal line is the market, a smoothed RSI of the S&P500. Run this on a Daily timeframe or higher. Check it occasionally to see where the smart money is heading.
Math Trading Concepts [SS]Presenting a mashup of the key elements I use for day-to-day trading: Volume, Z-Score, Autoregressive Forecasting, and a new addition, ANOVA analysis of variance.
I've aptly named it "Math Trading Concepts" in a nod to established trading concepts like "Smart Money" and "liquidity," but it's also fitting because these elements are fundamental to most quantitative/mathematical trading strategies.
What does it do?
The indicator visualizes Z-Score bands over a user-selected lookback period (defaulted to 14), akin to Bollinger Bands. Within these bands, it provides additional data, including trend identification. Uptrends are displayed in varying shades of green (brighter for stronger trends), while downtrends appear in red (with intensity reflecting strength).
Now, let's delve into each point individually:
Volume:
The indicator converts volume into a Z-Score over the specified lookback period. It distinguishes between buying and selling volume, calculating separate Z-Scores for each. A signal is triggered when the Z-Score exceeds 2 (for buying) or falls below -2 (for selling).
Z-Score:
The Z-Score clouds represent the outer parameters of the standard deviation over the lookback period (set at 2 and 3). Users can adjust the lookback time, and the indicator analyzes previous Z-Score reversal areas over the last 75 candles, signaling buy or sell based on historical reversals.
If you want to make it like BB, select the lookback length for the Z-Score at 25.
Autoregressive Forecasting:
This unique approach to autoregressive forecasting involves regressing a lagged variable while incorporating a time element. The time length is auto-determined based on the strongest trend. The indicator plots both autoregressed highs and lows.
ANOVA:
ANOVA, a discovery of mine, is introduced here. It reliably triggers significant readings before a pivot or breakout by measuring variance between means. When a statistically significant ANOVA occurs using the high, low, and close lagged values, it indicates an impending significant market move. While ANOVA alerts are not specific about the nature of the move, complementary tools like Volume, trend analysis, and Z-Bands provide additional insights.
Expect more educational content on ANOVA in the future, given its unique discovery. I was hoping to do one before releasing anything ANOVA based but alas, I haven't had the time!
The remainder of the indicator is self-explanatory. Feel free to ask any questions that arise or were not addressed in this description.
Special thanks to @Trendoscope for his arrays library which has made it possible for you to use the autoregression forecast while actively trading without it intruding on the chart :-).
Safe trades, everyone!
Altcoin ManagerThe Altcoin Manager is a comprehensive script for identifying the current altcoin narrative by tracking and analyzing of a wide array of altcoins across various blockchain layers and categories, such as DeFi, GameFi, AI, and Meme coins. Ideal for traders looking to get a broad yet detailed view of the altcoin market, covering various sectors and chains.
The Key Features:
Versatile Asset Tracking:
Tracks 40 different cryptocurrencies (as of publishing) across different categories, allowing for a diversified and detailed analysis of the altcoin market.
Customizable Assets and Category Analysis:
Select 20 of your own coins across 4 different categories such as DeFi, GameFi, AI, and Meme coins as well as specifying their individual chains.
Dynamic Layer and Chain Analysis:
Includes options to plot and analyze specific blockchain layers and chains such as Ethereum Chain, Solana Chain, BNB Smart Chain, Arbitrum Chain, and Polygon Chain. The script associates various assets with specific blockchains, providing a clearer picture of how different segments of the altcoin market are performing.
Cumulative and Per-Candle Change:
Switch between viewing the total cumulative change since a set start date or the per-candle change, offering flexibility in analyzing price movements over different timeframes.
Denomination Adjustment:
Includes a functionality to denominate asset prices in other currencies or crypto such as BTC, allowing for a more tailored financial analysis according to your preference.
Moving Averages for Categories and Chains:
Calculates and plots moving averages for each category and chain, aiding in the identification of trends over the selected moving average length.
How do I use it?
This script is not used with any particular chart. Instead, assign it it's own tab and layout.
For a clearer analysis, use multiple different panels to track Categories and Chains separately, both Cumulative for a longer term analysis and Per-Candle to find ongoing breakouts and changes in trend.
You can either use the pre-selected altcoins to represent the market, or you can select your own.
The Layer 1 and Layer 2 are not customizable but consists of 15 popular Layer 1 incl Bitcoin, Ethereum, Solana etc. Layer 2 consists of 5 popular Layer 2.
Auto Fibonacci Retracement // Atilla YurtsevenOverview:
This Pine Script™ is a specialized tool for traders, designed to automatically plot Fibonacci retracement levels over a user-defined date range in trading charts. It also indicates the extent of price retracement within these levels.
Key Features:
Date Range Customization: Users can specify the start and end dates to focus the analysis on a particular trading period.
Dynamic Fibonacci Levels: The script includes various Fibonacci ratios (0.0, 0.236, 0.382, 0.5, 0.618, 0.786, 1.0), with the flexibility to enable or disable individual levels.
Visual Customization: Each Fibonacci level can be customized for color and line style (solid, dotted, dashed). Labels for each level are also configurable.
Retracement Measurement: The script not only draws the Fibonacci levels but also measures and displays how much the price has retraced within these levels.
Extension and Additional Options: Users have options to extend the Fibonacci lines and additional features such as using close values, trend drawing, date range display, and more.
Technical Insights:
The script identifies high and low values within the selected time frame, assessing the market's trend direction.
Within the specified date range, this script effortlessly plots the Fibonacci levels automatically, bringing clarity and precision to your market analysis as it unfolds.
The tool's adaptability makes it suitable for various trading styles and chart preferences.
Intended Use:
This script is particularly valuable for technical analysts and traders who use Fibonacci retracements to identify potential support and resistance areas and understand the depth of market corrections or rallies.
Disclaimer:
This Pine Script™ is offered 'as is', without any guarantees or warranties. It is intended for informational purposes and should not be taken as investment advice. Atilla Yurtseven, the creator of this script, assumes no responsibility for any financial losses or gains that may result from its usage. Users should perform their own due diligence and consult with professional advisors before making any investment decisions.
Remember to follow and comment!
Trade smart, stay safe
Atilla Yurtseven
Advanced Divergence OscillatorIntroduction to ADO
The Advanced Divergence Oscillator (ADO) is a modern tool crafted for traders in various markets like stocks, forex, or cryptocurrencies. Imagine it as a smart gadget that helps you understand the ebb and flow of market prices. Unlike standard tools, ADO provides a more nuanced view, enabling you to grasp subtle changes in market trends.
Functionality of ADO
ADO operates by observing and comparing market price movements over different timeframes. Picture a racetrack where cars are moving at various speeds. Some are racing ahead, while others are gradually picking up pace. ADO keeps track of these varying 'speeds' in market prices.
By analyzing these movements, ADO generates a smooth, flowing line – the oscillator. This line moves in a wave-like pattern, offering hints about the market's momentum and possible future trends. When the line moves up, it suggests increasing prices, and when it moves down, it hints at falling prices.
How to Use ADO
Setup: You can easily integrate ADO into your trading platform, adjusting settings like length and color to suit your preference.
Reading the Oscillator: Watch for the oscillator's movement. Rising and falling patterns can indicate potential buying or selling opportunities.
Identifying Divergences: ADO excels in spotting divergences – situations where market prices and the oscillator don't align. For instance, if prices are climbing but the oscillator is falling, it might signal a potential price drop ahead.
Brief History of the Ultimate Oscillator
The concept of oscillators in trading isn’t new. The Ultimate Oscillator, developed by Larry Williams in the 1970s, is a foundational tool in this field. Williams' innovation was to combine short, intermediate, and long-term market trends into a single oscillator. This approach offered a more comprehensive market view, helping traders make informed decisions.
The ADO is a step further in this evolution. It takes the core principles of the Ultimate Oscillator and enhances them with proper smoothing and divergence detection methods. This evolution represents the continuous effort in the trading community to refine tools for better market analysis and decision-making.
ATH Drawdown Indicator by Atilla YurtsevenThe ATH (All-Time High) Drawdown Indicator, developed by Atilla Yurtseven, is an essential tool for traders and investors who seek to understand the current price position in relation to historical peaks. This indicator is especially useful in volatile markets like cryptocurrencies and stocks, offering insights into potential buy or sell opportunities based on historical price action.
This indicator is suitable for long-term investors. It shows the average value loss of a price. However, it's important to remember that this indicator only displays statistics based on past price movements. The price of a stock can remain cheap for many years.
1. Utility of the Indicator:
The ATH Drawdown Indicator provides a clear view of how far the current price is from its all-time high. This is particularly beneficial in assessing the magnitude of a pullback or retracement from peak levels. By understanding these levels, traders can gauge market sentiment and make informed decisions about entry and exit points.
2. Risk Management:
This indicator aids in risk management by highlighting significant drawdowns from the ATH. Traders can use this information to adjust their position sizes or set stop-loss orders more effectively. For instance, entering trades when the price is significantly below the ATH could indicate a higher potential for recovery, while a minimal drawdown from the ATH may suggest caution due to potential overvaluation.
3. Indicator Functionality:
The indicator calculates the percentage drawdown from the ATH for each trading period. It can display this data either as a line graph or overlaid on candles, based on user preference. Horizontal lines at -25%, -50%, -75%, and -100% drawdown levels offer quick visual cues for significant price levels. The color-coding of candles further aids in visualizing bullish or bearish trends in the context of ATH drawdowns.
4. ATH Level Indicator (0 Level):
A unique feature of this indicator is the 0 level, which signifies that the price is currently at its all-time high. This level is a critical reference point for understanding the market's peak performance.
5. Mean Line Indicator:
Additionally, this indicator includes a 'Mean Line', representing the average percentage drawdown from the ATH. This average is calculated over more than a thousand past bars, leveraging the law of large numbers to provide a reliable mean value. This mean line is instrumental in understanding the typical market behavior in relation to the ATH.
Disclaimer:
Please note that this ATH Drawdown Indicator by Atilla Yurtseven is provided as an open-source tool for educational purposes only. It should not be construed as investment advice. Users should conduct their own research and consult a financial advisor before making any investment decisions. The creator of this indicator bears no responsibility for any trading losses incurred using this tool.
Please remember to follow and comment!
Trade smart, stay safe
Atilla Yurtseven
Anchored Average Price by Atilla Yurtseven (AAP)Anchored Average Price indicator is designed to pinpoint a specific date and price in a given financial instrument's price chart. Once anchored to the desired date and price level, the script calculates and displays the average price from that anchor point to the current day.
Features
Customizable Source: Allows users to choose the source data for calculations. By default, it uses hlc3, which is the average of high, low, and close prices.
Start Date Input: The script includes a timestamp-based input that allows the user to specify the anchor date easily.
Customizable Color: Users can change the color of the plotted average line, adding an additional layer of customization to the visual representation.
Code Mechanics
Initialization: Declares the variables and arrays required for calculations and display. The array is used to store price data.
Condition Check: Only starts storing and calculating data if the chart's time is equal to or greater than the user-defined start date.
Data Storing: Once the condition is met, the script pushes the src price data into the array for future averaging.
Average Calculation: It calculates the average price of the values stored in the array.
Data Clearing: If the condition is not met, the array is cleared, and no average is plotted.
Plotting: The average price is plotted on the chart with the user-defined color.
By incorporating these features and mechanics, AAP provides traders and investors with a powerful tool for assessing average prices anchored to a specific date or swing.
Disclaimer:
This TradingView script is intended for educational and informational purposes only and should not be considered as investment or trading advice. Past performance is not indicative of future results. Trading and investing carry a high level of risk, and you should consult with a qualified financial advisor before making any financial decisions. The creator of this script, Atilla Yurtseven, is not responsible for any losses or damages incurred as a result of using this script.
Trade smart, stay safe
Atilla Yurtseven
SML SuiteIntroducing the "SML Suite" Indicator
The "SML Suite" is a powerful and easy-to-use trading indicator designed to help traders make informed decisions in the world of financial markets. Whether you're a seasoned trader or a novice, this indicator is your trusty sidekick for evaluating market trends.
Key Features:
Three Moving Averages: The indicator employs three different moving averages, each with a distinct length, allowing you to adapt to various market conditions.
Customizable Parameters: You can easily customize the moving average lengths and source data to tailor the indicator to your specific trading strategy.
Standard Deviation Multiplier: Adjust the standard deviation multiplier to fine-tune the indicator's sensitivity to market fluctuations.
Binary Results: The indicator provides clear binary signals (1 or -1) based on whether the current price is above or below certain bands. This simplifies your decision-making process.
SML Calculation: The SML (Short, Medium, Long) calculation is a smart combination of the binary results, offering you an overall sentiment about the market.
Color-Coded Visualization: Visualize market sentiment with color-coded bars, making it easy to spot trends at a glance.
Interactive Table: A table is displayed on your chart, giving you a quick overview of the binary results and the overall SML sentiment.
With the "SML Suite" indicator, you don't need to be a coding expert to harness the power of technical analysis. Stay ahead of the game and enhance your trading strategy with this user-friendly tool. Make your trading decisions with confidence and clarity, backed by the insights provided by the "SML Suite" indicator.
IPDA Standard Deviations [DexterLab x TFO x toodegrees]> Introduction and Acknowledgements
The IPDA Standard Deviations tool encompasses the Time and price relationship as studied by @TraderDext3r .
I am not the creator of this Theory, and I do not hold the answers to all the questions you may have; I suggest you to study it from Dexter's tweets, videos, and material.
This tool was born from a collaboration between @TraderDext3r, @tradeforopp and I, with the objective of bringing a comprehensive IPDA Standard Deviations tool to Tradingview.
> Tool Description
This is purely a graphical aid for traders to be able to quickly determine Fractal IPDA Time Windows, and trace the potential Standard Deviations of the moves at their respective high and low extremes.
The disruptive value of this tool is that it allows traders to save Time by automatically adapting the Time Windows based on the current chart's Timeframe, as well as providing customizations to filter and focus on the appropriate Standard Deviations.
> IPDA Standard Deviations by TraderDext3r
The underlying idea is based on the Interbank Price Delivery Algorithm's lookback windows on the daily chart as taught by the Inner Circle Trader:
IPDA looks at the past three months of price action to determine how to deliver price in the future.
Additionally, the ICT concept of projecting specific manipulation moves prior to large displacement upwards/downwards is used to navigate and interpret the priorly mentioned displacement move. We pay attention to specific Standard Deviations based on the current environment and overall narrative.
Dexter being one of the most prominent Inner Circle Trader students, harnessed the fractal nature of price to derive fractal IPDA Lookback Time Windows for lower Timeframes, and studied the behaviour of price at specific Deviations.
For Example:
The -1 to -2 area can initiate an algorithmic retracement before continuation.
The -2 to -2.5 area can initiate an algorithmic retracement before continuation, or a Smart Money Reversal.
The -4 area should be seen as the ultimate objective, or the level at which the displacement will slow down.
Given that these ideas stem from ICT's concepts themselves, they are to be used hand in hand with all other ICT Concepts (PD Array Matrix, PO3, Institutional Price Levels, ...).
> Fractal IPDA Time Windows
The IPDA Lookbacks Types identified by Dexter are as follows:
Monthly – 1D Chart: one widow per Month, highlighting the past three Months.
Weekly – 4H to 8H Chart: one window per Week, highlighting the past three Weeks.
Daily – 15m to 1H Chart: one window per Day, highlighting the past three Days.
Intraday – 1m to 5m Chart: one window per 4 Hours highlighting the past 12 Hours.
Inside these three respective Time Windows, the extreme High and Low will be identified, as well as the prior opposing short term market structure point. These represent the anchors for the Standard Deviation Projections.
> Tool Settings
The User is able to plot any type of Standard Deviation they want by inputting them in the settings, in their own line of the text box. They will always be plotted from the Time Windows extremes.
As previously mentioned, the User is also able to define their own Timeframe intervals for the respective IPDA Lookback Types. The specific Timeframes on which the different Lookback Types are plotted are edge-inclusive. In case of an overlap, the higher Timeframe Lookback will be prioritized.
Finally the User is able to filter and remove Standard Deviations in two ways:
"Remove Once Invalidated" will automatically delete a Deviation once its outer anchor extreme is traded through.
Manual Toggles will allow to remove the Upward or Downward Deviation of each Time Window at the discretion of the User.
Major shoutout to Dexter and TFO for their Time, it was a pleasure to collaborate and create this tool with them.
GLGT!
TASC 2023.10 COT Commercials Indicator█ OVERVIEW
This script implements the COT Commercials Indicator introduced by Alfred François Tagher in an article featured in TASC's October 2023 edition of Traders' Tips . The indicator is designed for use in futures markets and represents a fast stochastic (%K) calculated based on the commercial open interest values of an asset derived from the weekly Commitments Of Traders (COT) report .
█ CONCEPTS
The COT report, issued by the Commodity Futures Trading Commission (CFTC) , presents a breakdown of reportable open interest positions held by various trader groups—commercial, noncommercial, and nonreportable (small traders). Open interest reflects the total number of derivative contracts entered by market participants but not yet settled. Consequently, it can serve as a measure of market activity and liquidity.
The indicator showcased here aims to analyze changes in the reported net values of open interest for commercial traders/hedgers (often referred to as 'smart money', as they deal directly in underlying commodities). The net values are positive when the commercial traders have more long positions than short ones and negative when they hold more short positions than long ones. Positive net values indicate that commercial traders hold more long positions than short ones, while negative values indicate the opposite. Thus, overbought and oversold conditions of the COT Commercials Indicator potentially suggest collective bullish and bearish sentiments, respectively.
█ CALCULATIONS
The calculations involve these steps:
1. Net open interest values are extracted from COT data using the LibraryCOT library provided by TradingView.
2. A fast stochastic indicator (%K) is then applied to normalize these net values.
The script also provides an option of calculating and plotting the indicator curve for noncommercial (speculators) open interest.
[blackcat] L1 Dynamic Volatility IndicatorThe volatility indicator (Volatility) is used to measure the magnitude and instability of price changes in financial markets or a specific asset. This thing is usually used to assess how risky the market is. The higher the volatility, the greater the fluctuation in asset prices, but brother, the risk is also relatively high! Here are some related terms and explanations:
- Historical Volatility: The actual volatility of asset prices over a certain period of time in the past. This thing is measured by calculating historical data.
- Implied Volatility: The volatility inferred from option market prices, used to measure market expectations for future price fluctuations.
- VIX Index (Volatility Index): Often referred to as the "fear index," it predicts the volatility of the US stock market within 30 days in advance. This is one of the most famous volatility indicators in global financial markets.
Volatility indicators are very important for investors and traders because they can help them understand how unstable and risky the market is, thereby making wiser investment decisions.
Today I want to introduce a volatility indicator that I have privately held for many years. It can use colors to judge sharp rises and falls! Of course, if you are smart enough, you can also predict some potential sharp rises and falls by looking at the trend!
In the financial field, volatility indicators measure the magnitude and instability of price changes in different assets. They are usually used to assess the level of market risk. The higher the volatility, the greater the fluctuation in asset prices and therefore higher risk. Historical Volatility refers to the actual volatility of asset prices over a certain period of time in the past, which can be measured by calculating historical data; while Implied Volatility is derived from option market prices and used to measure market expectations for future price fluctuations. In addition, VIX Index is commonly known as "fear index" and is used to predict volatility in the US stock market within 30 days. It is one of the most famous volatility indicators in global financial markets.
Volatility indicators are very important for investors and traders because they help them understand market uncertainty and risk, enabling them to make wiser investment decisions. The L1 Dynamic Volatility Indicator that I am introducing today is an indicator that measures volatility and can also judge sharp rises and falls through colors!
This indicator combines two technical indicators: Dynamic Volatility (DV) and ATR (Average True Range), displaying warnings about sharp rises or falls through color coding. DV has a slow but relatively smooth response, while ATR has a fast but more oscillating response. By utilizing their complementary characteristics, it is possible to construct a structure similar to MACD's fast-slow line structure. Of course, in order to achieve fast-slow lines for DV and ATR, first we need to unify their coordinate axes by normalizing them. Then whenever ATR's yellow line exceeds DV's purple line with both curves rapidly breaking through the threshold of 0.2, sharp rises or falls are imminent.
However, it is important to note that relying solely on the height and direction of these two lines is not enough to determine the direction of sharp rises or falls! Because they only judge the trend of volatility and cannot determine bull or bear markets! But it's okay, I have already considered this issue early on and added a magical gradient color band. When the color band gradually turns warm, it indicates a sharp rise; conversely, when the color band tends towards cool colors, it indicates a sharp fall! Of course, you won't see the color band in sideways consolidation areas, which avoids your involvement in unnecessary trades that would only waste your funds! This indicator is really practical and with it you can better assess market risks and opportunities!
Indecision Candle FinderIndecision Candle Finder, is a simple indicator for quickly identifying indecision candles.
What does Indecision Candle Finder Indicator Does?
This indicator enables quick and easy identification of indecision candles. When an indecision candle appears on a chart, this indicator identifies this candle with either a red circle for a bearish indecision candle, or a green circle for bullish indecision candle.
What is an indecision candle?
Indecision candles are relatively small and opposite direction candles that appear between two equal direction candles on a trending market. These candles usually have a smaller body than their wicks and can appear on any timeframe.
How to use Indecision Candle Finder Properly?
Indecision candles by definition indicate indecisiveness in the market. These are areas where some traders, especially the smart money do trades opposite to the market direction. On a trending market, these areas may work as resistance/support zones when the trend changes or the market makes a correction.
Indecision Candles especially work well on higher timeframes.
Example #1
In this graph, we can see a valid example of an indecision candle. A relatively small bearish candle appearing on a trending market. This zone worked as a resistance zone when the trend changes.
DCA Liquidation Calculation [ChartPrime]The DCA Liquidation Calculator is a powerful table indicator designed for both manual and bot-assisted traders who practice Dollar Cost Averaging (DCA). Its primary objective is to help traders avoid getting liquidated and make informed decisions when managing their positions. This comprehensive table indicator provides essential information to DCA traders, enabling them to plan their trades effectively and mitigate potential risks of liquidation.
Key Features:
Liquidation Price Awareness: The DCA Liquidation Calculator calculates and displays the liquidation price for each trade within your position. This critical information empowers traders to set appropriate stop-loss levels and avoid being liquidated in adverse market conditions, especially in leveraged trading scenarios.
DCA Recommendations: Whether you are executing DCA manually or using a trading bot, the DCA Liquidation Calculator offers valuable guidance. It suggests optimal entry prices and provides insights into the percentage deviation from the current market price, helping traders make well-timed and well-informed DCA decisions.
Position Sizing: Proper position sizing is essential for risk management. The DCA Liquidation Calculator helps traders determine the percentage of capital to allocate to each trade based on the provided insights. By using the recommended position sizing, traders can protect their capital and potentially maximize profits.
Profit and Loss Visualization: Gain real-time visibility into your Profit and Loss (PnL) with the DCA Liquidation Calculator. This feature allows you to monitor your trades' performance, enabling you to adapt your strategies as needed and make data-driven decisions.
Margin Call Indicators: Anticipating potential margin calls is crucial for maintaining a healthy trading account. The DCA Liquidation Calculator's smart analysis helps you identify and manage potential margin call situations, reducing the risk of account liquidation.
Capital Requirements: Before entering a trade, it's vital to know the required capital. The DCA Liquidation Calculator provides you with this information, ensuring you are adequately prepared to execute your trades without overextending your resources.
Maximum Trade Limit: Considering your available capital, the DCA Liquidation Calculator helps you determine the maximum number of trades you can enter. This feature ensures you maintain a disciplined and sustainable trading approach aligned with your financial capabilities.
Color-Coded Risk Indicators:
Green Liquidation Price Cell: Indicates that the position is considered safe from liquidation at the given parameters.
Yellow Liquidation Price Cell: Warns traders of potential liquidation risk. Exercise caution and monitor the trade closely to avoid undesirable outcomes.
Purple Liquidation Price Cell: Shows the liquidation price, but it does not necessarily indicate an imminent liquidation. Use this information to make prudent risk management decisions.
Red Row: Signals that the trade cannot be executed due to insufficient capital. Consider alternative strategies or ensure adequate capitalization before proceeding.
Settings explained:
In conclusion, the DCA Liquidation Calculator equips traders with essential tools to make well-calculated decisions, minimize liquidation risks, and optimize their Dollar Cost Averaging strategy. By offering comprehensive insights into your trading position, this indicator empowers you to navigate the markets with confidence and increase your potential for successful and sustainable trading.
Open interest flow / quantifytools- Overview
Open interest flow detects inflows (positions opening) and outflows (positions closing) using open interest and estimates delta (net buyers/sellers) for the flows. Users are able to choose any open interest source available on Tradingview, by default set to BTCUSDT OI fetched from Binance. Using historical open interest flows, bands depicting typical magnitude of flows are formed for benchmarking intensity of flows. On the inflow side, +1 represents average inflows while +2 represents 2x above average inflows, a level considered an extreme. In a vice versa manner, -1 represents average outflows while -2 represents 2x above average outflows. Extreme inflows indicate aggressive position opening, in other words exuberance. Extreme outflows on the other hand indicate forced exiting of positions, in other words liquidations.
- Concept
Open interest flow is calculated using position of OI source relative to its moving average (by default set to SMA 10), referred to as relative open interest from hereon. When relative OI is positive (open interest is above its moving average), new positions are considered to enter the market. When relative OI is negative (open interest is below its moving average), existing positions are considered to exit the market. Open interest delta (side opening/closing positions, either net buyers/sellers) is calculated using relative price in a similar fashion to relative OI, but using close of viewed symbol as source. Price is considered to be up when relative price is positive, down when relative price is negative. Using relative OI and relative price in tandem, the following assumptions are applied:
Price up, open interest up = longs entering market
Price down, open interest up = shorts entering market
Price down, open interest down = longs exiting market
Price up, open interest down = shorts exiting market
Bands depicting magnitude of open interest flows are calculated using average turning points in relative OI. +1 and -1 represent levels where flows on average turn towards mean rather than continue to increase/decrease. These levels are then multiplied up to +2 and -2, representing two times larger deviations from the normal. When inflows are above 1, positions opening have reached a point where flows historically turn down. Therefore, anything above 1 would be abnormal amount of open interest entering, an extreme stretch being at 2 or above. Same logic applies to outflows, but in a vice versa manner (below -1 abnormal, extreme at -2)
Flow bursts further refine indications of aggressive inflows/outflows by taking into account change in open interest flows. Burst indications are activated when open interest is above its average turning point, coupled with a sufficient increase/decrease in flows simultaneously. Bursts are essentially a filtered version of abnormal flows and therefore a more reliable indication of exuberance/liquidations. Burst sensitivity can be adjusted via input menu, available in 5 settings. 1 sets OI burst requirements to loosest (more signals, more noise) while 5 sets OI burst requirements to strictest (less signals, less noise). Exact criteria applied to bursts can be viewed via input menu tooltip.
- Features
Users can opt for OI source auto-select for CRYPTO/USDT pairs. When auto-select is enabled and another chart is opened, corresponding open interest source is automatically selected as long as requirements mentioned above are met.
Open interest flows can be visualized as chart color, available separately for flow states and flow bursts.
Relative price line and flow guidelines (reminders for flow interpretation) can be enabled via input menu. All colors are customizable.
- Alerts
Available alerts are the following:
- Abnormal long inflows/outflows
- Abnormal short inflows/outflows
- Abnormal inflows/outflows from either side
- Aggressive longs/shorts (flow burst up)
- Liquidated longs/shorts (flow burst down)
- Aggressive or liquidated longs/shorts
- Practical guide
Open interest as a standalone data point does not reveal which side is likely opening/exiting positions and how extreme the participant behavior is. Using the additional data provided by open interest flows, moments of greed and fear can be detected. Smart money does not short into dips and buy into rips. When buyers or sellers have participated in a large move and continue to show interest even when efforts are not rewarded at an already overextended price, participants are asking for trouble.
Similar events can be observed when extreme outflows take place, indicating forced exits such as stop-losses triggering. When enough participants are forced out, price is likely to take the path of least resistance which is to the opposite direction.
Volume Spread Analysis Candle PatternsVolume Spread Analysis (VSA) is a methodology used in trading and investing to analyze the relationship between volume, price spread, and price movement in financial markets. It was developed by Richard Wyckoff, a prominent trader and market observer.
The core principle of VSA is that changes in volume can provide insights into the strength or weakness of price movements and indicate the intentions of market participants. By examining the interplay between volume and price, traders aim to identify the behavior of smart money (informed institutional investors) versus less-informed market participants.
Key concepts in Volume Spread Analysis include:
1. Volume: VSA places significant emphasis on volume as a leading indicator. It suggests that changes in volume precede price movements and can provide clues about the market's sentiment.
2. Spread: The spread refers to the price range between the high and low of a given trading period (e.g., a candlestick or bar). VSA considers the relationship between volume and spread to gauge the strength of price action.
3. Upthrust and Springs: These are VSA candle patterns that indicate potential market reversals. An upthrust occurs when prices briefly move above a resistance level but fail to sustain the upward momentum. Springs, on the other hand, happen when prices briefly dip below a support level but quickly rebound.
4. No Demand and No Supply: These patterns suggest a lack of interest or participation from buyers (no demand) or sellers (no supply) at a particular price level. These conditions may foreshadow a potential price reversal or consolidation.
5. Hidden Buying and Selling: Hidden buying occurs when prices close near the high of a bar, indicating the presence of buyers even though the market appears weak. Hidden selling is the opposite, where prices close near the low of a bar, suggesting the presence of sellers despite apparent strength.
By combining these VSA concepts with other technical analysis tools, traders seek to identify potential trading opportunities with favorable risk-reward ratios. VSA can be applied to various financial markets, including stocks, futures, forex, and cryptocurrencies.
It's important to note that while VSA provides a framework for analyzing volume and price, its interpretation and application require experience, skill, and subjective judgment. Traders often use VSA in conjunction with other technical indicators and chart patterns to make well-informed trading decisions.
