Price Level Break & Candle Pattern DetectorPrice Level Break & Candle Pattern Detector
A powerful and customizable indicator that combines price level breakout detection with candlestick pattern analysis to generate precise trading signals.
Key Features
Monitors user-defined price levels for breakouts
Identifies bullish and bearish candle patterns
Generates real-time alerts when both conditions are met
Customizable alert settings for improved trade management
How It Works
The indicator continuously monitors price action around specified price levels. When price breaks through these levels AND forms either a bullish or bearish candle pattern (based on your settings), it triggers an alert. This dual-confirmation approach helps reduce false signals and provides more reliable trading opportunities.
Use Cases
Support/Resistance breakout trading
Key price level monitoring
Trend reversal identification
Breakout confirmation
Risk management tool
Benefits
Reduces false breakout signals through pattern confirmation
Saves time by automating price level monitoring
Helps identify higher-probability trading setups
Customizable to fit various trading strategies
Perfect for both day trading and swing trading
Alert Types
Price level break alerts
Candlestick pattern formation alerts
Combined confirmation alerts
Suggested Settings
Set price levels at major support/resistance zones
Adjust candle pattern sensitivity based on timeframe
Use with multiple timeframes for confirmation
Combine with volume analysis for better accuracy
Cerca negli script per "support resistance"
Smart Moving AveragesSmart Moving Averages analyzes the dynamic interplay between price action and multiple moving averages to identify high-probability support and resistance zones.
The script's distinguishing features include:
Bounce detection that filters out noise by requiring specific penetration thresholds (0.1-1.5%), helping traders identify genuine support tests versus false signals
Real-time MA clustering analysis that reveals zones where multiple moving averages converge, indicating potentially stronger support/resistance levels
Statistical tracking of bounce success rates for each MA, allowing traders to identify which moving averages are most reliable for the current market conditions
Power bounce detection that combines EMA spread analysis with trend confirmation, highlighting especially strong bullish setups
Visual stack status system that instantly communicates market health through an intuitive color-coded display showing how many MAs are below price
The script helps traders make more informed decisions by quantifying the historical reliability of different moving averages while providing real-time analysis of MA interactions with price. This systematic approach moves beyond simple MA crossovers to identify higher probability trading opportunities.
JJ Psychological Levels (125 Increments)Psychological Levels Indicator
Description:
The Psychological Levels Indicator is a versatile tool designed for traders to identify key price levels that often act as support or resistance zones in the market. These levels are plotted at regular intervals, customizable by the user, starting from a base price level. This is particularly useful for spotting psychological price points that traders and investors frequently monitor.
Key Features:
1.Dynamic Psychological Levels:
- The script calculates and displays horizontal lines at price levels separated by customizable increments (default: 125 points).
- These levels are dynamically adjusted to the visible range of the chart.
2. Customizable Inputs:
- Starting Level: Set the base level from which increments are calculated (e.g., 0 or 1000).
- Step Size: Define the interval between levels (e.g., 125 for indices like Bank NIFTY).
3. Visual Representation:
- Horizontal lines are drawn at each psychological level, helping traders quickly identify key zones.
- Labels are placed next to each level, displaying the corresponding price for easy reference.
4. Application Across Instruments:
- This indicator works seamlessly with various asset classes, including stocks, indices, forex, and cryptocurrencies.
How to Use:
1.Identify Key Price Zones:
- Use the plotted psychological levels to spot areas where price action is likely to react.
- Levels such as 1125, 1250, and 1375 (for a step size of 125) are visually highlighted.
2. Plan Trades Around Key Levels:
- These levels can act as support/resistance or breakout points, providing opportunities for entry, exit, and stop-loss placement.
3. Customizable Settings:
- Adjust the starting level and step size to tailor the indicator to your trading instrument or strategy.
Why Psychological Levels Matter:
Psychological levels are widely followed by traders and often coincide with key market turning points due to their significance in human behavior and market psychology. They are frequently used by institutional traders, making them valuable reference points for intraday and swing trading.
Custom Settings:
- **Starting Level:** Default: `0`
- **Step Size:** Default: `125`
Disclaimer:
This indicator is a technical analysis tool and is not intended to provide financial advice. Always combine it with other indicators and perform your due diligence before making trading decisions.
EBL - Enigma BOS LogicThe EBL - Enigma BOS Logic indicator is designed to detect key trend reversal points with precision by leveraging a unique concept based on two-candle price action analysis. Inspired by the balance of pairs in creation, this indicator identifies trend changes by focusing on significant bullish and bearish candle pairs, storing key levels, and waiting for confirmation to provide actionable trade signals. It goes beyond conventional trend-following indicators by offering real-time alerts and clear visual cues for traders.
How It Works
Bullish Setup:
The indicator identifies a bullish candle followed by a bearish candle. It then stores the high of the bullish candle as a potential reversal level.
A bullish confirmation occurs when a future bullish candle closes above the stored high. When this happens:
A green arrow is plotted below the confirming candle.
A horizontal green line is drawn at the stored high level, extending forward by a user-defined number of bars.
An alert is triggered to notify the trader of a confirmed bullish trend.
Bearish Setup:
The indicator identifies a bearish candle followed by a bullish candle. It stores the low of the bearish candle as a potential reversal level.
A bearish confirmation occurs when a future bearish candle closes below the stored low. When this happens:
A red arrow is plotted above the confirming candle.
A horizontal red line is drawn at the stored low level, extending forward by a user-defined number of bars.
An alert is triggered to notify the trader of a confirmed bearish trend.
Touch or Cross Alerts:
In addition to initial trend confirmation, the indicator tracks price movements relative to the drawn horizontal lines.
If the price returns to touch or cross a previously drawn horizontal line, an alert is triggered, indicating a potential re-entry or retracement opportunity.
Customization Options
To make the indicator versatile and adaptable for different trading styles, several customization options are provided:
Line Colors: Traders can customize the colors of the bullish and bearish lines.
Show/Hide Arrows and Lines: Users can choose whether to display the arrows and horizontal lines on the chart.
Line Length: The length of the horizontal lines (number of bars they extend into the future) is user-defined, offering flexibility based on trading timeframes and preferences.
Use Cases
Trend Reversal Detection: EBL is ideal for identifying key trend reversals, allowing traders to enter trades with a high probability of success.
Breakout Confirmation: The indicator provides visual and alert-based confirmation of breakouts beyond critical support or resistance levels.
Re-entry Opportunities: With alerts for price touching or crossing horizontal lines, traders can spot potential re-entry points during retracements.
Conceptual Foundation
The methodology behind this indicator is rooted in the principle that markets often move in pairs of bullish and bearish forces. By tracking the interaction between consecutive bullish and bearish candles and waiting for clear confirmations, this indicator ensures that only high-probability trend changes are signaled. This reduces noise and enhances trading accuracy, making it suitable for scalping, day trading, and swing trading across various timeframes.
How to Use
Apply the indicator to any chart and timeframe of your choice.
Set your preferred customization options, including line colors, arrow display, and line length.
Watch for arrows and listen for alerts to identify confirmed trend changes.
Pay attention to touch or cross alerts on horizontal lines, as these can signal potential re-entry or secondary trade opportunities.
Combine with other analysis: While EBL is powerful on its own, combining it with support/resistance analysis, moving averages, or volume indicators can further enhance its effectiveness.
This indicator is a powerful tool for traders seeking precision in identifying trend changes and actionable trade signals. Its unique logic, real-time alerts, and clear visual cues make it a valuable addition to any trader’s toolkit.
Candles Volume HeatMap [BigBeluga]Candles Volume HeatMap
The Candle Volume HeatMap indicator is a unique and advanced tool that visualizes lower timeframe volume activity within higher timeframe candles, offering traders a granular perspective on volume distribution.
⚠️Important note: before using the indicator, it is necessary to apply it to the candles
🔵Key Features:
Volume HeatMap Visualization: The indicator breaks down each higher timeframe candle into 10 equal vertical segments (boxes) based on its high-to-low range. Each box represents a lower timeframe candle's volume activity, with more intense colors indicating stronger volume levels.
Lower Timeframe Integration: Automatically uses a timeframe 10x lower than the current chart. For example, on a 10-hour chart, it uses 1-hour candles to extract volume data.
POC (Point of Control): The highest volume box within each candle is marked with the volume value. The indicator also plots a horizontal POC line at the level of this box, highlighting significant areas of price interest. The POC line is removed once the price crosses it, ensuring the chart stays clean.
Delta Display (Optional): Traders can enable the Delta feature to analyze buyer vs. seller activity within each higher timeframe candle.
Delta is calculated by summing 10 lower timeframe candles: a bullish candle adds to buyers, while a bearish candle adds to sellers. Displays the net Delta percentage: positive values (white) indicate buyer dominance, while negative values (red) indicate seller dominance.
Dynamic Volume Scaling: The highest volume value in each candle is displayed inside its respective box, providing quick insights into critical price-volume levels.
🔵How It Works:
For each higher timeframe candle, the indicator analyzes 10 lower timeframe candles and maps their volume into 10 segments (boxes) between the high and low of the current candle.
The intensity of each box's color corresponds to the relative volume of the lower timeframe candle it represents.
The POC highlights the price level with the highest concentration of volume, aiding in identifying potential support/resistance zones.
Delta analysis offers additional insights into market sentiment by breaking down buyer and seller activity in each candle.
🔵Use Cases:
Spotting key volume areas within higher timeframe candles to identify support and resistance levels.
Analyzing volume concentration for potential breakout or reversal zones.
Leveraging Delta analysis to gauge market sentiment and confirm volume-based trends.
This indicator is ideal for traders seeking to combine volume analysis with price action, offering precise insights into volume distribution and market dynamics.
Enhanced VIP-like IndicatorSettings Breakdown Tutorial: Optimizing a Trading Strategy
This guide explains the key trading strategy settings and how to customize them based on your trading style and goals. Each parameter is essential for tailoring the strategy to market conditions and your risk appetite.
1. Short Moving Average Length (Default: 9)
• Purpose: Tracks short-term trends using a small number of candles.
• Settings Tips:
• Smaller Values (e.g., 9): Quickly react to price changes, useful for fast-moving markets.
• Larger Values (e.g., 12-15): Generate smoother signals for less volatile trades.
2. Long Moving Average Length (Default: 21)
• Purpose: Identifies long-term trends.
• Settings Tips:
• Higher Values (e.g., 50): Spot broader trends at the expense of slower signals.
• Trend Analysis: The interaction of short and long MAs helps determine bullish or bearish trends (e.g., bullish when short MA crosses above long MA).
3. Higher Timeframe MA Length (Default: 200)
• Purpose: Filters long-term trends on a higher timeframe (e.g., daily).
• Settings Tips:
• 200 Periods: Standard for defining bullish (price above) or bearish (price below) markets.
• Adjustable: Use 100 for faster responses or stick with 200 for reliability.
4. Higher Timeframe (Default: 1 Day)
• Purpose: Defines the timeframe for the higher moving average.
• Settings Tips:
• Shorter Timeframes (e.g., 4 Hours): More frequent trading signals.
• Daily Timeframe: Best for swing trading and identifying macro trends.
5. RSI Length (Default: 14)
• Purpose: Measures momentum over a specific number of candles.
• Settings Tips:
• Lower Values (e.g., 7): More sensitive to price changes, ideal for quick trades.
• Higher Values (e.g., 20): Smooth signals for more stable markets.
6. RSI Overbought (70) and Oversold (30) Levels
• Purpose: Marks thresholds for overbought and oversold conditions.
• Settings Tips:
• Stricter Levels (e.g., 80/20): Fewer, higher-quality signals.
• Looser Levels (e.g., 65/35): More frequent signals, suitable for active trading.
7. Pivot Left Bars (5) and Pivot Right Bars (5)
• Purpose: Confirms pivot points (support/resistance) based on surrounding candles.
• Settings Tips:
• Higher Values (e.g., 10): Stronger but less frequent pivot points.
• Lower Values: More responsive, for traders seeking quick pivots.
8. Take Profit Percentage (Default: 2%)
• Purpose: Defines the profit level to exit trades.
• Settings Tips:
• Higher Values (e.g., 5%): For swing traders holding positions longer.
• Lower Values (e.g., 1%): For scalpers focusing on quick trades.
9. Minimum Volume (Default: 1,000,000)
• Purpose: Ensures sufficient liquidity for trading.
• Settings Tips:
• Lower Values: For lower-volume markets.
• Higher Values: Reduces risk in high-liquidity assets.
10. Stop Loss Percentage (Default: 1%)
• Purpose: Sets the maximum acceptable loss per trade.
• Settings Tips:
• Lower Values (e.g., 0.5%): Reduces risk, suited for conservative trading.
• Higher Values (e.g., 2%): Allows more price fluctuation, ideal for volatile markets.
11. Entry Conditions
• Options:
• MA Crossover & RSI: Combines trend-following and momentum for well-rounded signals.
• Pivot Breakout: Focuses on support/resistance breakouts for high-impact trades.
• Settings Tips:
• Trend-Following Traders: Use MA Crossover & RSI.
12. Exit Conditions
• Options:
• Opposite Signal: Exits when the trade’s opposite condition occurs (e.g., bullish to bearish).
• Fixed Take Profit/Stop Loss: Exits based on predefined profit/loss thresholds.
• Settings Tips:
• Opposite Signal: Ideal for trend-following strategies.
Summary
Customizing these settings aligns the strategy with your trading goals. Test configurations in a demo environment before live trading to refine the approach and optimize results. Always balance profit potential with risk management.
• Fixed Levels: Better for strict risk management.
• Breakout Traders: Opt for Pivot Breakout.
Supertrend with EMAs (288 & 50)This indicator combines the Supertrend with two key Exponential Moving Averages (EMAs) — the 50 EMA and the 288 EMA — to help traders identify trends and possible entry or exit points in the market.
Key Features:
Supertrend Indicator:
The Supertrend indicator is a widely used trend-following tool. It helps determine whether the market is in an uptrend or downtrend by adjusting based on the Average True Range (ATR).
In this indicator, green represents an uptrend, and red represents a downtrend.
288 EMA:
The 288-period Exponential Moving Average is plotted to show the long-term market trend. It reacts more quickly to recent price changes than a simple moving average, offering an effective way to gauge long-term market direction.
50 EMA:
The 50-period Exponential Moving Average is commonly used as a short-term trend indicator. It helps identify shorter-term trends and serves as a dynamic support/resistance level.
EMA Crossover Alerts:
This indicator includes alerts for when the 50 EMA crosses above the 288 EMA (bullish signal) and when it crosses below (bearish signal), helping traders catch trend reversals or confirmation of current trends.
Supertrend Alerts:
Alerts are triggered when the Supertrend indicator switches from uptrend to downtrend or downtrend to uptrend, indicating a potential shift in market direction.
Usage:
Uptrend Confirmation: When the Supertrend is green and the 50 EMA is above the 288 EMA, it signals that the market is in a strong bullish trend.
Downtrend Confirmation: When the Supertrend is red and the 50 EMA is below the 288 EMA, it indicates that the market is in a bearish trend.
Crossover Signals: The indicator provides alerts when the 50 EMA crosses above or below the 288 EMA, helping traders spot trend changes.
Best For:
Trend-following strategies
Identifying potential trend reversals and market shifts
Traders looking for a combination of short-term and long-term trend analysis
Note: This indicator is most effective when used in conjunction with other technical analysis tools and should be considered alongside other factors such as volume, support/resistance levels, and price action.
Smart Money Concepts (Advanced)Inspired and initially based on LuxAlgo's Smart Money Concepts Indicator I created a library lib_smc that started to convert every function and return objects. This allowed certain customizations like tracking the current fill level of FVGs or tracking the creation of Order Blocks, by monitoring consecutive bars against the current trend.
This indicator is provided as is, based on, but probably not always be up to date with my lib_smc that I am using for my projects.
WARNING: This indicator shows EXPERIMENTAL Order Blocks that are tracked LIVE. Unlike usual Order Blocks these are not just based on the last confirmed Swing Point (formed 50 bars before) but on consecutive candles opposing an unconfirmed trend. Blocks are confirmed by price movements relative to the unconfirmed block and unconfirmed swing points. This means that some Order Blocks will appear on pullbacks, as well as reversals.
Features
Swing Points (HH / LH / HL / LL), indicating support / resistance zones price might reject off of or want to push through
Market Structure (BOS / ChoCh), indicates confirmation for a continued / changing trend
live Order Blocks (OB), see warning above.
Fair Value Gaps (FVG), optional from higher timeframes
Equal Highs / Lows (EQH/EQL), indicates strong support / resistance zones, especially when the bars forming it have long wicks toward that zone
using my lib_no_delay all moving averages are working from bar 0, so it can be used on charts with limited bars
Larry Williams: Market StructureLarry Williams' Three-Bar System of Highs and Lows: A Definition of Market Structure
Larry Williams developed a method of market structure analysis based on identifying local extrema using a sequence of three consecutive bars. This approach helps traders pinpoint significant turning points on the price chart.
Definition of Local Extrema:
Local High:
Consists of three bars where the middle bar has the highest high, while the lows of the bars on either side are lower than the low of the middle bar.
Local Low:
Consists of three bars where the middle bar has the lowest low, while the highs of the bars on either side are higher than the high of the middle bar.
This structure helps identify meaningful reversal points on the price chart.
Constructing the Zigzag Line:
Once the local highs and lows are determined, they are connected with lines to create a zigzag pattern.
This zigzag reflects the major price swings, filtering out minor fluctuations and market noise.
Medium-Term Market Structure:
By analyzing the sequence of local extrema, it is possible to determine the medium-term market trend:
Upward Structure: A sequence of higher highs and higher lows.
Downward Structure: A sequence of lower highs and lower lows.
Sideways Structure (Flat): Lack of a clear trend, where highs and lows remain approximately at the same level.
This method allows traders and analysts to better understand the current market phase and make informed trading decisions.
Built-in Indicator Feature:
The indicator includes a built-in functionality to display Intermediate Term Highs and Lows , which are defined by filtering short-term highs and lows as described in Larry Williams' methodology. This feature is enabled by default, ensuring traders can immediately visualize key levels for support, resistance, and trend assessment.
Quote from Larry Williams' Work on Intermediate Term Highs and Lows:
"Now, the most interesting part! Look, if we can identify a short-term high by defining it as a day with lower highs (excluding inside days) on both sides, we can take a giant leap forward and define an intermediate term high as any short-term high with lower short-term highs on both sides. But that’s not all, because we can take it even further and say that any intermediate term high with lower intermediate term highs on both sides—you see where I’m going—forms a long-term high.
For many years, I made a very good living simply by identifying these points as buy and sell signals. These points are the only valid support and resistance levels I’ve ever found. They are crucial, and the breach of these price levels provides important information about trend development and changes. Therefore, I use them for placing stop loss protection and entry methods into the market."
— Larry Williams
This insightful quote highlights the practical importance of identifying market highs and lows at different timeframes and underscores their role in effective trading strategies.
Adaptive Range Scalper - KetBotAIThe Adaptive Scalper is designed to dynamically adjust entry, take-profit (TP), and stop-loss (SL) levels based on the latest market price. It combines multiple tools to provide traders with actionable insights, suitable for a range of trading styles and timeframes.
How the Indicator Works
Dynamic Levels:
- Yellow Dotted Line: Represents the entry level, following the latest price dynamically.
- Green Line: The Take Profit (TP) level, calculated as a multiple of the current price, adapts in real-time.
- Red Line: The Stop Loss (SL) level, placed below the price and also dynamically adjusts.
Bollinger Bands:
Provides context for market volatility and potential overbought/oversold zones.
Narrowing bands signal consolidation, while expanding bands indicate increased volatility.
Buy and Sell Signals:
Buy Signal: Triggered when the price crosses above the lower Bollinger Band.
Sell Signal: Triggered when the price crosses below the upper Bollinger Band.
These signals help traders time entries and exits based on momentum shifts.
Risk/Reward Analysis:
Visual shading shows the favorable risk/reward zone between the stop loss and take profit levels.
Timeframe Suggestions
Short-Term Traders (Scalping):
Use on 5-minute to 15-minute charts.
Focus on high-volatility periods for quick entries and exits.
Intraday Traders:
Ideal for 30-minute to 1-hour charts.
Provides more stable signals and less noise.
Swing Traders:
Best suited for 4-hour or daily charts.
Captures broader trends with fewer signals, allowing for larger moves.
Tool Combination
Volume Profile:
Combine with volume-based tools to confirm key support/resistance zones around TP and SL levels.
Trend Indicators:
Use with Moving Averages (e.g., 20-period or 50-period) to identify the broader trend direction.
Example: Only take buy signals in an uptrend and sell signals in a downtrend.
Momentum Oscillators:
Pair with tools like RSI or MACD to avoid entering overbought/oversold conditions.
Support/Resistance Lines:
Manually mark significant levels to confirm alignment with the indicator’s TP and SL zones.
Useful Advice for Traders
Risk Management:
- Always assess the risk/reward ratio; aim for at least 1:2 (risking 1 to gain 2).
- Adjust the multiplier to match your trading style (e.g., higher multiplier for swing trades, lower for scalping).
Avoid Overtrading:
Use the indicator in conjunction with clear rules to avoid false signals during low-volatility periods.
Monitor market volatility:
Pay attention to narrowing Bollinger Bands, which signal consolidations. Avoid trading until a breakout occurs.
Test on Demo Accounts:
Practice using the indicator on a demo account to understand its behavior across different assets and timeframes.
Focus on High-Liquidity Markets:
For the best results, trade highly liquid instruments like major currency pairs, gold, or stock indices.
Summary
The Adaptive Range Indicator dynamically adjusts to market conditions, offering clear entry and exit levels. By combining it with Bollinger Bands and other tools, traders can better navigate market trends and avoid noise. It’s versatile across multiple timeframes and assets, making it a valuable addition to any trader’s toolkit.
Pro Stock Scanner + MACD# Pro Stock Scanner - Advanced Trading System
### Professional Scanning System Combining MACD, Momentum & Technical Analysis
## 🎯 Indicator Purpose
This indicator was developed to identify high-quality trading opportunities by combining:
- Strong positive momentum
- Clear technical trend
- Significant trading volume
- Precise MACD signals
## 💡 Core Mechanics
The indicator is based on three core components:
### 1. Advanced MACD Analysis (40%)
- MACD line crossover tracking
- Momentum strength measurement
- Positive/negative divergence detection
- Score range: 0-40 points
### 2. Trend Analysis (40%)
- Moving average relationships (MA20, MA50)
- Primary trend direction
- Current trend strength
- Score range: 0-40 points
### 3. Volume Analysis (20%)
- Comparison with 20-day average volume
- Volume breakout detection
- Score range: 0-20 points
## 📊 Scoring System
Total score (0-100) composition:
```
Total Score = MACD Score (40%) + Trend Score (40%) + Volume Score (20%)
```
### Score Interpretation:
- 80-100: Strong Buy Signal 🔥
- 65-79: Developing Bullish Trend ⬆️
- 50-64: Neutral ↔️
- 0-49: Technical Weakness ⬇️
## 📈 Chart Markers
1. **Large Blue Triangle**
- High score (80+)
- Positive MACD
- Bullish MACD crossover
2. **Small Triangles**
- Green: Bullish MACD crossover
- Red: Bearish MACD crossover
## 🎛️ Customizable Parameters
```
MACD Settings:
- Fast Length: 12
- Slow Length: 26
- Signal Length: 9
- Strength Threshold: 0.2%
Volume Settings:
- Threshold: 1.5x average
```
## 📱 Information Panel
Real-time display of:
1. Total Score
2. MACD Score
3. MACD Strength
4. Volume Score
5. Summary Signal
## ⚙️ Optimization Guidelines
Recommended adjustments:
1. **Bull Market**
- Decrease MACD sensitivity
- Increase volume threshold
- Focus on trend strength
2. **Bear Market**
- Increase MACD sensitivity
- Stricter trend conditions
- Higher score requirements
## 🎯 Recommended Trading Strategy
### Phase 1: Initial Scan
1. Look for 80+ total score
2. Verify sufficient trading volume
3. Confirm bullish MACD crossover
### Phase 2: Validation
1. Check long-term trend
2. Identify nearby resistance levels
3. Review earnings calendar
### Phase 3: Position Management
1. Set clear stop-loss
2. Define realistic profit targets
3. Monitor score changes
## ⚠️ Important Notes
1. This indicator is a supplementary tool
2. Combine with fundamental analysis
3. Strict risk management is essential
4. Not recommended for automated trading
## 📈 Usage Examples
Examples included:
1. Successful buy signal
2. Trend reversal identification
3. False signal analysis and lessons learned
## 🔄 Future Updates
1. RSI integration
2. Advanced alerts
3. Auto-optimization features
## 🎯 Key Benefits
1. Clear scoring system
2. Multiple confirmation layers
3. Real-time market feedback
4. Customizable parameters
## 🚀 Getting Started
1. Add indicator to chart
2. Adjust parameters if needed
3. Monitor information panel
4. Wait for strong signals (80+ score)
## 📊 Performance Metrics
- Success rate: Monitor and track
- Best performing in trending markets
- Optimal for swing trading
- Most effective on daily timeframe
## 🛠️ Technical Details
```pine
// Core components
1. MACD calculation
2. Volume analysis
3. Trend confirmation
4. Score computation
```
## 💡 Pro Tips
1. Use multiple timeframes
2. Combine with support/resistance
3. Monitor sector trends
4. Consider market conditions
## 🤝 Support
Feedback and improvement suggestions welcome!
## 📜 License
MIT License - Free to use and modify
## 📚 Additional Resources
- Recommended timeframes: Daily, 4H
- Best performing markets: Stocks, ETFs
- Optimal market conditions: Trending markets
- Risk management guidelines included
## 🔍 Final Notes
Remember:
- No indicator is 100% accurate
- Always use proper position sizing
- Combine with other analysis tools
- Practice proper risk management
// @version=5
// @description Pro Stock Scanner - Advanced trading system combining MACD, momentum and volume analysis
// @author AviPro
// @license MIT
//
// This indicator helps identify high-quality trading opportunities by analyzing:
// 1. MACD momentum and crossovers
// 2. Trend strength and direction
// 3. Volume patterns and breakouts
//
// The system provides:
// - Total score (0-100)
// - Visual signals on chart
// - Information panel with key metrics
// - Customizable parameters
//
// IMPORTANT: This indicator is for educational and informational purposes only.
// Always conduct your own analysis and use proper risk management.
//
// If you find this indicator helpful, please consider leaving a like and comment!
// Feedback and suggestions for improvement are always welcome.
Swing & Day Trading Strategy dddddThis TradingView Pine Script is designed for swing and day trading, incorporating multiple technical indicators and tools to enhance decision-making. It calculates and plots exponential moving averages (EMAs) for 5, 9, 21, 50, and 200 periods to identify trends and crossovers. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) provide momentum and overbought/oversold signals. The script dynamically identifies and marks support and resistance levels based on recent highs and lows, while also detecting and labeling key candlestick patterns such as bullish and bearish engulfing, doji, and hammer candles. Bullish and bearish signals are highlighted on the chart with green and red backgrounds, respectively, and alerts are generated to notify traders of these conditions. All visualizations, including EMAs, support/resistance lines, and candlestick labels, are overlaid directly on the stock chart for easy interpretation. This comprehensive approach assists traders in spotting potential trading opportunities effectively.
Custom Price Red Line IndicatorCustom Price Red Line Indicator is a tool used in trading platforms to visually represent key price levels on a chart. This indicator typically draws a red line at a specific price, which can serve as a threshold or a level of interest, such as a resistance or support level. It is customizable to allow traders to set the price at which the red line will appear, making it useful for highlighting critical price points that may signal potential trade entries or exits.
Key Features:
• Customizable Price Level: Set the exact price where the red line will be drawn.
• Visual Signal: The red line acts as a visual aid to indicate important price levels.
• Alerts: Traders can set alerts when the price crosses the red line to track market movements.
• Trend Analysis: The red line can represent key support, resistance, or psychological price levels for trend analysis.
This indicator can be used in various timeframes and across different asset classes to assist traders in their technical analysis.
HPDR Bands IndicatorThe HPDR Bands indicator is a customizable tool designed to help traders visualize dynamic price action zones. By combining historical price ranges with adaptive bands, this script provides clear insights into potential support, resistance, and midline levels. The indicator is well-suited for all trading styles, including trend-following and range-bound strategies.
Features:
Dynamic Price Bands: Calculates price zones based on historical highs and lows, blending long-term and short-term price data for responsive adaptation to current market conditions.
Probability Enhancements: Includes a probability plot derived from the relative position of the closing price within the range, adjusted for volatility to highlight potential price movement scenarios.
Fibonacci-Like Levels: Highlights key levels (100%, 95%, 88%, 78%, 61%, 50%, and 38%) for intuitive visualization of price zones, aiding in identifying high-probability trading opportunities.
Midline Visualization: Displays a midline that serves as a reference for price mean reversion or breakout analysis.
How to Use:
Trending Markets: Use the adaptive upper and lower bands to gauge potential breakout or retracement zones.
Range-Bound Markets: Identify support and resistance levels within the defined price range.
Volatility Analysis: Observe the probability plot and its sensitivity to volatility for informed decision-making.
Important Notes:
This script is not intended as investment advice. It is a tool to assist with market analysis and should be used alongside proper risk management and other trading tools.
The script is provided as-is and without warranty. Users are encouraged to backtest and validate its suitability for their specific trading needs.
Happy Trading!
If you find this script helpful, consider sharing your feedback or suggestions for improvement. Collaboration strengthens the TradingView community, and your input is always appreciated!
Weekly Covered Calls Strategy with IV & Delta LogicWhat Does the Indicator Do?
this is interactive you must use it with your options chain to input data based on the contract you want to trade.
Visualize three strike price levels for covered calls based on:
Aggressive (closest to price, riskier).
Moderate (mid-range, balanced).
Low Delta (farthest, safer).
Incorporate Implied Volatility (IV) from the options chain to make strike predictions more realistic and aligned with market sentiment. Adjust the risk tolerance by modifying Delta inputs and IV values. Risk is defined for example .30 delta means 30% chance of your shares being assigned. If you want to generate steady income with your shares you might want to lower the risk of them being assigned to .05 or 5% etc.
How to Use the Indicator with the Options Chain
Start with the Options Chain:
Look for the following data points from your options chain:
Implied Volatility (IV Mid): Average IV for a particular strike price.
Delta:
~0.30 Delta: Closest strike (Aggressive).
~0.15–0.20 Delta: Mid-range strike (Moderate).
~0.05–0.10 Delta: Far OTM, safer (Low Delta).
Strike Price: Identify strike prices for the desired Deltas.
Open Interest: Check liquidity; higher OI ensures tighter spreads.
Input IV into the Indicator:
Enter the IV Mid value (e.g., 0.70 for 70%) from the options chain into the Implied Volatility field of the indicator.
Adjust Delta Inputs Based on Risk Tolerance:
Aggressive Delta: Increase if you want strikes closer to the current price (riskier, higher premium).
Default: 0.2 (20% chance of shares being assigned).
Moderate Delta: Balanced risk/reward.
Default: 0.12 (12%)
Low Delta: Decrease for safer, farther OTM strikes.
Default: 0.05 (5%)
Visualize the Chart:
Once inputs are updated:
Red Line: Aggressive Strike (closest, riskiest, higher premium).
Blue Line: Moderate Strike (mid-range).
Green Line: Low Delta Strike (farthest, safer).
Step-by-Step Workflow Example
Open the options chain and note:
Implied Volatility (IV Mid): Example 71.5% → input as 0.715.
Delta for desired strikes:
Aggressive: 0.30 Delta → Closest strike ~ $455.
Moderate: 0.15 Delta → Mid-range strike ~ $470.
Low Delta: 0.05 Delta → Farther strike ~ $505.
Open the indicator and adjust:
IV Mid: Enter 0.715.
Aggressive Delta: Leave at 0.12 (or adjust to bring strikes closer).
Moderate Delta: Leave at 0.18.
Low Delta: Adjust to 0.25 for safer, farther strikes.
View the chart:
Compare the indicator's strikes (red, blue, green) with actual options chain strikes.
Use the visualization to: Validate the risk/reward for each strike.
Align strikes with technical trends, support/resistance.
Adjusting Inputs Based on Risk Tolerance
Higher Risk: Increase Aggressive Delta (e.g., 0.15) for closer strikes.
Use higher IV values for volatile stocks.
Moderate Risk: Use default values (0.12–0.18 Delta).
Balance premiums and probability.
Lower Risk: Increase Low Delta (e.g., 0.30) for farther, safer strikes.
Focus on higher IV stocks with good open interest.
Key Benefits
Simplifies Strike Selection: Visualizes the three risk levels directly on the chart.
Aligns with Market Sentiment: Incorporates IV for realistic forecasts.
Customizable for Risk: Adjust inputs to match personal risk tolerance.
By combining the options chain (IV, Delta, and liquidity) with the technical chart, you get a powerful, visually intuitive tool for covered call strategies.
VWAP Trend with Standard Deviation & MidlinesThis indicator is a sophisticated VWAP (Volume Weighted Average Price) tool with multiple features:
Core Functionality:
1. Calculates a primary VWAP line that changes color based on trend direction (green when rising, red when falling)
2. Creates multiple standard deviation bands around the VWAP at customizable distances
3. Resets calculations at either:
- New York session start time (configurable, default 9:30 AM)
- Daily start time
- Can be hidden on daily/weekly/monthly timeframes if desired
Band Structure:
- Band 1 (innermost): ±1 standard deviation
- Band 2 (middle): ±2 standard deviations
- Band 3 (outermost): ±3 standard deviations
- Midlines at 0.5σ intervals between bands
- All bands can be individually enabled/disabled
Customization Options:
1. Band calculation modes:
- Standard Deviation based
- Percentage based
2. Visual settings:
- Customizable colors for all elements
- Adjustable line widths
- Optional labels with configurable size
- Optional extension lines
- Label position adjustment
3. Source data selection (default: HLC3 - High, Low, Close average)
Common Uses:
- Identifying potential support/resistance levels
- Measuring price volatility
- Spotting mean reversion opportunities
- Trading range analysis
- Trend direction confirmation
The indicator essentially creates a dynamic support/resistance structure that adapts to market volatility and volume, making it useful for both intraday and swing trading strategies.
Ultra Market StructureThe Ultra Market Structure indicator detects key market structure breaks, such as Break of Structure (BoS) and Change of Character (CHoCH), to help identify trend reversals. It plots lines and labels on the chart to visualize these breakpoints with alerts for important signals.
Introduction
This script is designed to help traders visualize important market structure events, such as trend breaks and reversals, using concepts like Break of Structure (BoS) and Change of Character (CHoCH). The indicator highlights internal and external price levels where the market shifts direction. It offers clear visual signals and alerts to keep traders informed of potential changes in the market trend.
Detailed Description
The indicator focuses on detecting "market structure breaks," which occur when the price moves past significant support or resistance levels, suggesting a potential reversal or continuation of the trend.
.........
Type of structure
Internal Structure: Focuses on smaller, shorter-term price levels within the current market trend.
External Structure: Focuses on larger, longer-term price levels that may indicate more significant shifts in the market.
.....
Key events
Break of Structure (BoS): A market structure break where the price surpasses a previous high (bullish BoS) or low (bearish BoS).
Change of Character (CHoCH): A shift in market behavior when the price fails to continue in the same direction, indicating a possible trend reversal.
Once a break or shift is detected, the script plots lines and labels on the chart to visually mark the breakpoints.
It also provides alerts when a BoS or CHoCH occurs, keeping traders informed in real-time.
The indicator can color the background and candles based on the market structure, making it easy to identify the current trend.
.....
Special feature
At news events or other momentum pushes most structure indicators will go into "sleep mode" because of too far away structure highs/lows. This indicator has a structure reset feature to solve this issue.
.........
Detects Break of Structure (BoS) and Change of Character (CHoCH) signals.
Marks internal and external support/resistance levels where market trends change.
Provides visual cues (lines, labels) and real-time alerts for structure breaks.
Offers background and candle color customization to highlight market direction.
Fractal Trail [UAlgo]The Fractal Trail is designed to identify and utilize Williams fractals as dynamic trailing stops. This tool serves traders by marking key fractal points on the chart and leveraging them to create adaptive stop-loss trails, enhancing risk management and trade decision-making.
Williams fractals are pivotal in identifying potential reversals and critical support/resistance levels. By plotting fractals dynamically and providing configurable options, this indicator allows for personalized adjustments based on the trader's strategy.
This script integrates both visual fractal markers and adjustable trailing stops, offering insights into market trends while catering to a wide variety of trading styles and timeframes.
🔶 Key Features
Williams Fractals Identification: The indicator marks Williams Fractals on the chart, which are significant highs and lows within a specified range. These fractals are crucial for identifying potential reversal points in the market.
Dynamic Trailing Stops: The indicator generates dynamic trailing stops based on the identified fractals. These stops adjust automatically as new fractals are formed, providing a responsive and adaptive approach to risk management.
Fractal Range: Users can specify the number of bars to the left and right for analyzing fractals, allowing for flexibility in identifying significant price points.
Trail Buffer Percentage: A percentage-based safety margin can be added between the fractal price and the trailing stop, providing additional control over risk management.
Trail Invalidation Source: Users can choose whether the trailing stop flips based on candle closing prices or the extreme points (high/low) of the candles.
Alerts and Notifications: The indicator provides alerts for when the price crosses the trailing stops, as well as when new Williams Fractals are confirmed. These alerts can be customized to fit the trader's notification preferences.
🔶 Interpreting the Indicator
Fractal Markers: The triangles above and below the bars indicate Williams Fractals. These markers help traders identify potential reversal points in the market.
Trailing Stops: The dynamic trailing stops are plotted as lines on the chart. These lines adjust based on the latest identified fractals, providing a visual representation of potential support and resistance levels.
Fill Colors: The optional fill colors between the trailing stops and the price action help traders quickly identify the current trend and potential pullback zones.
🔶 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.
BTC InsightThis script is a comprehensive tool for analyzing Bitcoin's daily price range, trend predictions, and significant volume-based order block levels. It combines multiple technical analysis concepts, including exponential moving averages (EMAs), logarithmic calculations, and custom indicators for advanced forecasting and visualization.
Key Features and Technical Details
1. Exponential Moving Averages (EMAs)
The script calculates two smoothed EMAs:
EMA1 and EMA2 are derived from the logarithmic price of Bitcoin (log(close)).
The smoothing periods and multipliers are user-configurable through inputs:
Smoothed EMA1 Period (default: 728)
Smoothed EMA2 Period (default: 728)
Initial EMA Multipliers (default: 1.0 for EMA1, 5.0 for EMA2)
A time decay factor is applied to the multipliers to adjust sensitivity over time, making the EMAs adaptive to market dynamics.
2. Logarithmic Domain Calculations
The script uses logarithmic transformations to enhance accuracy when dealing with large price changes.
Adjustments to EMAs are made in the logarithmic domain and converted back to the price domain for plotting.
3. EMA Forecasting
The script performs a linear regression analysis over a specified period (728 bars by default) to estimate future price trends for both EMAs.
Slope Adjustments:
RSI (Relative Strength Index) is incorporated to modify the forecast slope dynamically:
RSI > 70: Bearish adjustment (-0.5)
RSI < 30: Bullish adjustment (+0.5)
Forecasts are plotted as dashed lines, projecting future values of EMA1 (green) and EMA2 (red).
4. Order Block Detection
Detects order block levels based on high volume spikes relative to the average volume over a lookback period (default: 100 bars).
A volume multiplier (default: 1.5x) is applied to identify significant volume activity.
Two types of order blocks are identified:
Below EMA1: A price zone where significant buying occurred below EMA1.
Above EMA2: A price zone where significant selling occurred above EMA2.
Order blocks are visualized as shaded rectangles:
Green boxes represent order blocks below EMA1.
Red boxes represent order blocks above EMA2.
5. Customization Inputs
The script allows fine-tuning via the following parameters:
EMA Settings: Periods, multipliers, and time factors for both EMAs.
Volume Analysis Settings: Lookback period and volume multiplier for order block detection.
Order Block Box Settings: Height of the range as a percentage of the detected price.
6. Visualization
EMAs: Two smoothed exponential moving averages are plotted with configurable offsets.
Forecast Lines: Dashed lines project future EMA trends based on regression analysis.
Order Block Boxes: Highlight areas of high volume below EMA1 and above EMA2, indicating potential support or resistance zones.
How It Works in Practice
EMAs and Trend Analysis:
The EMAs represent long-term market trends, adjusted dynamically using custom multipliers and time decay.
The script forecasts the EMAs' future trajectories to anticipate potential price movements.
Order Blocks:
High-volume zones indicate areas where significant market activity occurred, providing insights into potential price reversal points or continuation zones.
RSI Integration:
RSI-based slope adjustment fine-tunes the EMA forecast, adding an extra layer of dynamic market context.
Comprehensive View:
By combining trend forecasts with volume-based zones, the script delivers a robust analysis tool for identifying potential entry/exit points, support/resistance levels, and long-term trend predictions.
Previous Candle AverageDescription:
The Previous Candle Average indicator is a powerful tool designed to provide traders with insights into market momentum by visualizing the relationship between the current and previous open levels for a customizable timeframe. This versatile indicator allows you to select from various timeframes, including 1 Month, 1 Week, 1 Day, 8 Hours, 4 Hours, and 1 Hour, making it suitable for different trading strategies, whether you're a swing trader, day trader, or scalper.
The indicator plots the Current Open and Previous Open levels for the selected timeframe and calculates the average value between them. By displaying these critical levels, traders can quickly gauge the current market dynamics relative to the previous period, making it easier to identify support, resistance, or trend continuation.
Key Features:
Custom Timeframe Selection: Easily select the desired timeframe from a variety of options (1M, 1W, 1D, 8H, 4H, 1H) to align with your trading strategy.
Current and Previous Open Levels: The indicator plots both the Current Open and Previous Open levels for the chosen timeframe, providing clear visual guidance on where the market is opening relative to the previous period.
Open Fill with Adjustable Transparency: The area between the Current Open and Previous Open levels is filled with color to represent the relationship between the two. The fill color changes based on whether the Current Open is above or below the Previous Open, with a default 20% opacity for better clarity without overwhelming the chart.
Average Line: The indicator also plots the average value between the Current Open and Previous Open levels, painted by default in a solid white color with a line thickness of 2. This average helps identify potential key levels where the price might react.
Dynamic Coloring: The fill color changes dynamically based on whether the Current Open is higher or lower than the Previous Open, using green to indicate bullish behavior and red for bearish behavior.
How to Use:
The Previous Candle Average indicator can help traders identify the momentum of the market by visually comparing the relationship between consecutive open levels.
Use the Average Line as a reference for potential support or resistance, especially when the market opens near this average.
The Open Fill color can quickly indicate a shift in market sentiment. A green fill suggests that the market is opening stronger than the previous period, while a red fill indicates weakness.
Best Practices:
Combine this indicator with other technical analysis tools, such as trend lines, moving averages, or volume analysis, to confirm potential trading opportunities.
The custom timeframe feature is particularly useful for multi-timeframe analysis. For instance, you can monitor weekly open levels while trading on an hourly chart.
Note: The indicator uses real-time open data and is updated accordingly, ensuring there is no delay or repainting of historical values.
Ideal For:
Traders who want a clear visual representation of market open levels relative to previous periods.
Those who want to identify potential shifts in momentum by comparing open levels across different timeframes.
Traders seeking to add an additional layer of analysis to their existing strategy by incorporating key opening levels and their averages.
Dix$on's Weighted Volume FlowDixson's Weighted Volume Flow
Dixson's Weighted Volume Flow is a technical indicator designed to analyze and visualize the distribution of buy and sell volume within a given timeframe. It dynamically calculates the proportional allocation of volume based on price action within each bar, providing insights into market sentiment and activity. This indicator displays horizontal volume bars in a separate pane and annotates them with precise volume values.
How It Works
1. Volume Allocation:
- The indicator calculates buy and sell volume using the following formulas:
- Buy Volume = (Close - Low) / (High - Low) Total Volume
- Sell Volume = (High - Close) / (High - Low) Total Volume
- These formulas allocate volume proportionally based on the bar's price range, attributing more volume to buying or selling depending on the relationship between the close, high, and low prices.
2. Dynamic Scaling:
- The buy and sell volumes are scaled relative to their combined total for the period.
- The resulting values determine the length of the horizontal bars, providing a comparative view of buy and sell activity.
3. Bar Visualization:
- Buy Volume Bars: Displayed as green horizontal bars.
- Sell Volume Bars: Displayed as red horizontal bars.
- The lengths of the bars represent the dominance of buy or sell volume, scaled dynamically within the pane.
4. Labels:
- Each bar is annotated with a label showing its calculated buy or sell volume value.
5. Timeframe Adjustment:
- The indicator uses the request.security() function to fetch data from the selected timeframe, allowing users to customize their analysis for intraday, daily, or longer-term trends.
6. Customization Options:
- Enable or disable the indicator using a toggle.
- Adjust colors for the buy/sell bars and text labels to suit your chart theme.
How to Use It
1. Enable the Indicator:
- Activate the indicator using the "Enable/Disable" toggle in the settings.
2. Select a Timeframe:
- Choose the timeframe for analysis (e.g., 1-minute, 1-hour, daily). The indicator fetches volume data specific to the selected timeframe.
3. Interpret the Visualization:
- Compare Bar Lengths:
- Longer buy volume bars (green) indicate stronger buying activity.
- Longer sell volume bars (red) suggest dominant selling pressure.
- Labels:
- Use the labels to view the exact buy and sell volume values for precise analysis.
4. Combine with Other Tools:
- Use the indicator alongside price action analysis, support/resistance levels, or trend indicators to confirm market sentiment and detect potential reversals.
5. Monitor Imbalances:
- Significant disparities between buy and sell volume can signal shifts in market sentiment, such as the end of a trend or the start of a breakout.
Practical Applications
- Trend Confirmation:
- Align the dominance of buy or sell volume with price trends to confirm market direction.
- Reversal Signals:
- Watch for volume imbalances or a sudden shift in the dominance of buy or sell volume to identify potential reversals.
- High-Activity Zones:
- Identify areas with increased volume to anticipate significant price movements or key support/resistance interactions.
Dixson's Weighted Volume Flow provides a clear and systematic way to analyze market activity by visualizing the dynamics of buy and sell volume. It is particularly useful for traders looking to enhance their understanding of volume-based sentiment and its impact on price movements.
Stock_Cloud-EMA,VWAP,ST Indicator_V1Stock_Cloud V1 - EMA, VWAP, SuperTrend Strategy Indicator
This indicator combines three powerful technical indicators (EMA, VWAP, and SuperTrend) to create a comprehensive trading system that helps identify high-probability trading setups when all components align.
Strategy Components & Logic:
• EMA (Exponential Moving Average): Acts as a dynamic support/resistance and trend direction indicator
• VWAP (Volume Weighted Average Price): Provides important institutional price levels and volume-based trend strength
• SuperTrend: Offers trend direction and potential reversal points
Why These Components Work Together:
1. EMA filters out market noise while maintaining responsiveness to price changes
2. VWAP adds volume-based price validation, especially useful for intraday trading
3. SuperTrend confirms trend direction and potential reversal points
4. When all three indicators align, it creates a high-probability setup
Signal Generation:
• Bullish Signal: Generated when price crosses above all three indicators (EMA, VWAP, and SuperTrend turns bullish)
• Bearish Signal: Generated when price crosses below all three indicators (EMA, VWAP, and SuperTrend turns bearish)
• Background color changes help visualize the current market condition
Settings:
- EMA Length: 20 (default, adjustable)
- SuperTrend Period: 10 (default, adjustable)
- SuperTrend Multiplier: 3.0 (default, adjustable)
How to Use:
1. Look for potential entries when all three indicators align
2. Small triangles mark key entry points when alignment occurs
3. Use background color as additional confirmation
4. Monitor price action relative to all three indicators for exit signals
Best Timeframes:
Works well on all timeframes, but particularly effective on 5-minute to daily charts for stocks and indices.
Note: This indicator combines traditional technical analysis tools in a unique way to provide clear, actionable signals. Always use proper risk management and consider other factors like market conditions and support/resistance levels.
Created by Stock_Cloud
Version 2.0
Eze Profit - VWAP + MACD Combined SignalThe Eze Profit - VWAP + MACD Combined Signal is an advanced trading tool designed to help traders align price trends with momentum confirmation for better decision-making. By combining Volume-Weighted Average Price (VWAP) and Moving Average Convergence Divergence (MACD), this indicator provides clear entry and exit signals, allowing traders to follow trends and take advantage of momentum shifts.
How It Works:
VWAP:
VWAP represents the average price of an asset, weighted by volume, over a specific period.
It acts as a dynamic support/resistance level and trend filter. Price above VWAP indicates bullish conditions, while price below VWAP suggests bearish conditions.
MACD:
MACD measures momentum through the difference between fast and slow exponential moving averages (EMAs).
Signals are generated when the MACD line crosses its signal line:
Bullish Crossover: Indicates increasing upward momentum.
Bearish Crossunder: Indicates increasing downward momentum.
Combined Logic:
Long Signal: Triggered when price is above VWAP, and MACD exhibits a bullish crossover.
Short Signal: Triggered when price is below VWAP, and MACD exhibits a bearish crossunder.
The script tracks the trader's "in-position" state to prevent redundant signals and ensure clarity.
How to Use:
Use this script to identify potential long and short trading opportunities:
Buy Signal: Enter a long position when the price moves above VWAP and MACD confirms bullish momentum.
Sell Signal: Exit or short when the price drops below VWAP and MACD confirms bearish momentum.
Combine with additional tools like support/resistance, volume analysis, or candlestick patterns for confirmation.
Features:
VWAP Trend Filter: Dynamically adjusts to the trading session to identify overall trend direction.
MACD Momentum Confirmation: Detects key momentum shifts with configurable settings for fast, slow, and signal lengths.
Position State Tracking: Avoids signal redundancy by monitoring open positions.
Buy/Sell Visualizations: Plots Buy/Sell signals directly on the chart for ease of use.
Alerts: Notifies traders in real-time when a long or short signal is triggered.
Customizable Settings:
MACD Fast Length, Slow Length, and Signal Smoothing parameters.
VWAP timeframe resolution to adapt to different trading styles (e.g., intraday or daily).
Credits:
This script is based on standard VWAP and MACD calculations provided by TradingView’s library and has been enhanced with unique logic for combined signal generation.
Notes:
This indicator is intended for educational purposes and should not be considered financial advice. Use it as part of a broader trading strategy alongside other tools for optimal results.
