Kernel Regression RibbonKernel Regression Ribbon is a flexible, visually pleasing trend identification tool. Plotting 8 different kernel regressions of different types and parameters allows the user to see where levels of support and resistance are being tested, retested and broken.
What’s Kernel Regression?
A statistical method for estimating the best fitting curve for a dataset, in this case, a time/price chart.
How’s Kernel Regression different from a Moving Average?
A Moving Average is basically a simple form of Kernel Regression, in that it uses a fixed (Retangular) Kernel function. In an MA, all data points are weighted equally over its length. However, a Kernel function reacts more to data points that are closer to the current point. This means it will adapt more quickly to changes in data than an MA. Due to this adaptability, Kernel functions often form part of Machine Learning.
Using this indicator:
Explore the default Regular mode first to get a feel for the inputs, which are more numerous than for MAs. Try out different settings, filters and intervals to get the best out of each kernel. Not all parameters are available for each KR. There are info tips to explain this in the menu, but I’ve also included handy, optional labels on the chart for each KR as a more accessible guide.
Once you know your way round the Regular mode, check out the Presets and start changing the parameters of each kernel to your liking in the “User KR1, KR2, … “ mode. Each kernel type has its strong and weak points. Blending different kernels is where this indicator comes into its own. Give your charts a funky shine!
This indicator does NOT repaint.
This script acknowledges, and hopefully showcases, the great work of @veryfid Kernel Regression Toolkit.
Cerca negli script per "support"
Re-Anchoring VWAP TripleThe Triple Re-Anchoring VWAP (Volume Weighted Average Price) indicator is a tool designed for traders seeking a deeper understanding of market trends and key price levels. This indicator dynamically recalibrates VWAP calculations based on significant market pivot points, offering a unique perspective on potential support and resistance levels.
Key Features:
Dynamic Re-anchoring at All-Time Highs (ATH) : The first layer of this indicator continuously tracks the all-time high and recalibrates the VWAP from each new ATH. This VWAP line, typically acting as a dynamic resistance level, offers insights into the overbought conditions and potential reversal zones.
Adaptive Re-anchoring to Post-ATH Lows : The second component of the indicator shifts focus to the market's reaction post-ATH. It identifies the lowest low following an ATH and re-anchors the VWAP calculation from this point. This VWAP line often serves as a dynamic support level, highlighting key areas where the market finds value after a significant high.
Re-anchoring to Highs After Post-ATH Lows : The third element of this tool takes adaptation one step further by tracking the highest high achieved after the lowest low post-ATH. This VWAP line can act as either support or resistance, providing a nuanced view of the market's valuation in the recovery phase or during consolidation after a significant low.
Applications:
Trend Confirmation and Reversal Signals : By comparing the price action relative to the dynamically anchored VWAP lines, traders can gauge the strength of the trend and anticipate potential reversals.
Entry and Exit Points : By highlighting significant support and resistance areas, it assists in determining optimal entry and exit points, particularly in swing trading and mean reversion strategies.
Enhanced Market Insight : The dynamic nature of the indicator, with its shifting anchor points, offers a refined understanding of market sentiment and valuation changes over time.
Why Triple Re-Anchoring VWAP?
Traditional VWAP tools offer a linear view, often missing out on the intricacies of market fluctuations. The Triple Re-Anchoring VWAP addresses this by providing a multi-faceted view of the market, adapting not just to daily price changes but pivoting around significant market events. Whether you're a day trader, swing trader, or long-term investor, this indicator adds depth to your market analysis, enabling more informed trading decisions.
Examples:
Absorbing System Support and ResistanceHello Traders :)
I am Only Fibonacci.
My purpose in coding this indicator was to detect support and resistance more easily.
What is the working principle of this indicator?
This tool detects pivot points.
If the length of the sell pin is higher than the length of the buy pin, it is considered as resistance.
It detects the formation according to the length of the pivot point and draws a line until this level is broken.
The main purpose is to add a new perspective to support and resistance detection and to prepare an educational code sequence.
The codes are open to everyone, you can develop as you wish.
In the settings you can choose whether you want to see the breakdowns, you can also choose whether the breakdowns will be with the wicks or the body.
func("RES")
func("SUP")
It is written in a functional way.
If you call "RES" inside the func method, it draws the resistors. If you throw a call other than "RES" it draws the supports.
The main concept here;
"RES" = Resistance
"SUP" = Support
S/R and Reversal BarsToday I'm proposing an idea to form S/R with a slightly different basic idea. This is a combination of CCI and candlestick study, and we will use this to mark possible reversal candles and possible S/R lines.
This is nothing complicated, I've used a basic CCI indicator with certain rules/system to mark S/R levels on the chart. (Have loaded traditional CCI indicator on bottom for comparison)
S/R levels are market as followed
Cross -
Lime = Support
Red = Resistance
Zero/Balance line - Yellow circles
The idea is to use this indicator to trade sideways market more successfully, in trending market this can be futile if you are not waiting for the break-out or breakdowns with confirmation.
Since this is based on CCI, it will give static result only when bar is closed, till then it will be susceptible for repaint. This is inherited nature from CCI readings on current bar. I could change this to only making reading on closed bar (historical bar), but that takes away from the uniqueness of this indicator in giving early indications.
This is a great tool for intraday scalping, but it does work on all timeframes, it's not bound by granularity.
This is for education purpose only.
Past success or seemingly positive results on published posts are not indication of future success.
TrendLine CrossThis indicator "TrendLine Cross", is designed to plot trend lines so you can spot potential trend reversal points on the charts. The main function is to draw several lines on the chart and identify the crossings between these lines, which can be significant indicators for trading. The lines are based on different periods which can be changed in the settings tabs.
Let's see the characteristics of the trend lines:
_Low Line Color(Green Line): This line connects the lowest point of low prices in the "low_time" period with the lowest point of low prices in the "high_time" period. Indicates a possible short-term support level on the chart.
_Liquidity Up Line Color (Golden Line): This line connects the lowest point of low prices in the "low_time" period with the highest point of low prices in the same period. It represents a liquidity zone and an important resistance in the chart.
_Lower Line Color (Blue Line): This horizontal line connects the lowest point of low prices in the "LowerLine_period" with the lowest point of low prices in the "high_time" period. Indicates a possible long-term support level.
_Upper Line Colorr: This line represents a connection between the highest points of the "high_time" period and the lowest point of the "LowerLine_period". Indicates a possible long-term resistance level.
_Up Line Color (Red Line): This line connects the highest point of high prices in the "high_time" period with the highest point of high prices in the "LowerLine_period". It represents a possible long-term resistance level.
_Liquidity Down Line Color(Golden Line): This line connects the highest point of high prices in the "high_time" period with the highest point of low prices in the "low_time" period. It represents a liquidity point and an important support zone.
The indicator becomes particularly interesting when the lines make crossings. These crossovers could suggest a potential trend change in the market. For example:
Change from Bearish to Bullish: If the "long-term" line (black) crosses the "short- or long-term" line (green or blue) from top to bottom, it could indicate a shift from a bearish to a bullish market , suggesting the opportunity for long positions.
_Changing from Bullish to Bearish: If the "long-term" line (blue) crosses the "short-term" line (red or black) from bottom to top, it could indicate a shift from a bullish to a bearish market, suggesting the opportunity for short positions.
Generally speaking, crossings between these lines can be key points of interest for traders, as they can signal significant changes in price direction.
Donchian MA Bands [LuxAlgo]The Donchian MA Bands script is a complete trend indicator derived from the popular Donchian channel indicator as well as various customizable moving averages to estimate trend direction and build support/resistance levels & zones.
🔶 USAGE
The indicator outputs various elements, the main ones being a lower dynamic zone (blue by default), an upper dynamic zone (in orange by default), and one support and resistance level/zones (red/green by default).
A prominent lower zone is indicative of an uptrend, while a prominent upper zone is indicative of a downtrend. These zones can be used as support/resistance as well.
Support/resistance zones and levels can be used using a breakout methodology or to determine price bounced if a level was tested multiple times.
The indicator contains various modes affecting the output of the indicator, described below.
🔹 Clouds
Clouds return one upper/lower dynamic zone and look/act similarly to a trailing stop. Price over the lower zone is indicative of an uptrend, and price under the upper zone is indicative of a downtrend.
🔹 Upper Band
The upper band mode returns a dynamic zone closer to prices during an uptrend, and farther away during a downtrend.
This band can act as a support during uptrends.
🔹 Lower Band
The lower band mode returns a dynamic zone closer to prices during an uptrend, and farther away during a downtrend.
This band can act as a resistance during downtrends.
🔹 Bands
Bands return both upper and lower zones, the zones are more apparent depending on the price trend direction, with uptrends being indicated by a more visible lower zone, and downtrends being indicated by a more visible upper zone.
Breakout dots are highlighted when price breakout the indicator displayed extremities, and can be indicative of a confirmed trend reversal.
These breakouts can be more effective for trend following during trending markets. Ranging markets might return breakouts highlighting the top/bottom.
🔶 DETAILS
The core of this script is the highest / lowest mean average (MA) value for a given number of bars back ( Donchian lines).
This is repeated a few times with the obtained values.
When Bands are chosen ( Style ) this will be repeated 1 more time.
The type of mean average can be customized ( Type MA ), as well as the number of bars back ( Length ).
Depending on the choice of bands ( Style ) the script will focus on certain area's of interest.
When the option Clouds , Upper band or Lower band is chosen, an extra feature, support/resistance (S/R), will be shown.
These color-filled areas are visible when there is a difference between the 2nd and 3rd highest/lowest values.
The lines/areas can be used for stop loss, entry, exit,...
You can set the type of MA and Length separately ( Settings -> S/R ).
If you don't need this feature, simply set Type ( Settings -> S/R ) -> NONE
The shape sometimes resembles triangles, indicating a potential direction
Default the average of the highest and lowest values is plotted (Style -> Mid Donchian)
This can act as potential support/resistance or visualization of the trend, the mean average is not plotted but can be (Style -> MA)
🔹 Note
When the option Bands is chosen, an indication is plotted when the closing price breaks above the highest band or breaks below the lower band. This isn't necessarily a buy/sell signal, it is merely a signal that these lines are broken.
Users should decide on their own how they use the bands/lines/areas as entry, exit, trailing stop, stop loss, profit taking,...
🔶 SETTINGS
🔹 Bands
Style: Clouds (default), Upper band, Lower band, Bands
Type MA: choose between SMA, EMA, RMA, HullMA, WMA, VWMA (default), DEMA, TEMA, NONE (off)
Length: Length of moving average and Donchian calculations (default 20)
Colour Bands
🔹 S/R (Support/Resistance, visible with Clouds, Upper band or Lower band)
Type MA: choose between SMA, EMA, RMA, HullMA, WMA, VWMA (default), DEMA, TEMA, NONE (off)
Length: Length of moving average and Donchian calculations (default 20)
Colour S/R
Fibonacci Ranges (Real-Time) [LuxAlgo]The "Fibonacci Ranges" indicator combines Fibonacci ratio-derived ranges (channels), together with a Fibonacci pattern of the latest swing high/low.
🔶 USAGE
The indicator draws real-time ranges based on Fibonacci ratios as well as retracements. Breakouts from a Fibonacci Channel are also indicated by labels, indicating a potential reversal.
Each range extremity/area can also be used as support/resistance.
🔶 CONCEPTS
Fibonacci Channels
Latest Fibonacci
Both, Latest Fibonacci and Fibonacci Channels , display different Fibonacci levels (labels not included in the code):
However, the 2 react in a totally different way.
🔹 Fibonacci Channels
2 conditions must be fulfilled until a Fibonacci Channel is displayed:
New swing high/low
close has to be between chosen limits/levels ( Break level )
As visual guidance, chosen Break levels are accentuated by 2 small gray blocks:
Once the channel is displayed, it will remain visible until x consecutive bars break out of the chosen Break level at closing time.
• x consecutive bars is set by Break count .
The amount of breaks is counted in the code. When the price, without breaking the user-set limit, closes back between the 2 levels, the count is reset to 0.
By enabling Channels and Shadows you can see previous channels (" Shadows ", which is always delayed with 1 bar)
Previous channels can be helpful in finding potential support/resistance areas, especially from large channel blocks
The more narrow Break levels are set the less chance the price closes between these 2 levels, and the quicker close breaks out.
In other words, narrow levels give fewer & smaller channels, broader levels give more & larger channels.
Note:
• swing settings: L & R
• Break count (x consecutive bars that close outside chosen levels to invalidate the Fibonacci Channel )
will also be of influence in displaying the channels.
• Show breaks enable you to visualize signals when there is a break:
• Alerts can also be set ( Break Down / Break Up )
🔹 Latest Fibonacci
This displays the Fibonacci levels between the latest swing high and swing low, independently from the Fibonacci Channel .
The Lastest Fibonacci can be helpful in detecting the current trend against the larger Fibonacci Channel .
🔶 SETTINGS
🔹 Swing Settings
L: set left of pivothigh / pivotlow
R: set right of pivothigh / pivotlow
🔹 Fibonacci Channels
Channel : Channel / Channels + Shadows / None
Break level
-0.382 - 1.382
0.000 - 1.000
0.236 - 0.764
0.382 - 0.618
Break count
🔹 Fibonacci
Toggle
Colours: [ -0.382 - 0 ], [ 0.236 - 0.382 ], [ 0.5 ], [ 0.618 - 0.764 ], [ 1 - 1.382 ]
[MAD] MindreaderHi,
This is a multiband indicator that shows you liquid support and resistance ranges based on growing offsets and growing ATR channels.
In the end, when setup well, you can make, based on historical observations, estimates of how traders will react, maybe identical again.
How to use:
Setup:
Activate the two checkboxes for centerline and All_Lines
Start with the middle line to establish the general direction of the asset.
With the 6 following options, you try to match the trends in the outer bands as good as possible.
Small changes can be made by till you have best fitting overall bands. I tried to make small steppingsize to visual setup very easy. Change a bit... wait look,... change a bit, wait look...
Deactivate the two setup boxes and continue with setting up the colors.
Have fun figuring out the perfect wave !!
Trade Tool VDWMA + OI RSI BasedThis indicator works only for symbols where open interest data is available.
The idea was to create a combination of Volume Delta, Open Interest, RSI, Moving Average and Support / Resistance as a unified tool.
I created a Weighted Moving Average based on the Volume Delta (VDWMA). The idea behind this was to reflect the moving average on the difference between buy and sell volume.
There are two VDWMA to determine a trend. Fast and Slow. The principle is the same as with conventional moving averages. For visualization, the candles are colored based on the following logic:
up trend = Fast VDWMA is above the Slow VDWMA and the price is above the Fast VWDWMA.
down Trend = Fast VDWMA is below the Slow VDWMA and the Short is below the Fast VDWMA
Further, support and resistance zones were defined based on the close and high prices as well as close and low prices.
A simple logic looks for divergences between RSI and price to generate first signals for possible price reversals.
Another RSI was created based on the open interest.
In combination with the conventional RSI, oversold and overbought zones were defined based on the following logic, which are marked by vertical zones on the chart.
Oversold zone = RSI is below 30 and OI RSI is above 70 or below 30 and OI opening is not greater than OI closing price
Overbought zone = RSI is above 70 and OI RSI is above 70 or below 30 and OI opening is not smaller than OI closing price
Based on this, buy and sell signals were defined.
First, the support or resistance zone must remain the same for two candles, which signals that the zone has not been breached. In addition, a divergence must occur in the RSI and the price must bounce.
newsell = resistance == resistance and high >= resistance and close < resistance and bearishDiv
newbull = support == support and low <= support and close > support and bullishDiv
The OI signaling was deliberately not included as well as the trend function. The tool should be suitable for scalping as well as for swinging. Thus, depending on the tradestyle itself to decide which points you want to trade.
Have fun with it
Map exampleUsing Maps collections:
This code manipulates support and resistance lines using maps collection.
We normally maintain array/udt of lines and related properties to segregate lines as support and or resistance.
With introduction of maps the same can be achieved without creating lines array/udt.
What does this code do:
1. Plot support and resistance lines based on ta.pivothigh() and ta.pivotlow()
2. When price crosses support line, the line is marked as resistance and color is changed to resistance line color and style is changed to dotted line (support turned resistance). Also the width of the line is set based on number of crosses. Finally the support/resistance line is removed when number of times price crossing the line reaches max allowed crosses (input parameter)
Where maps are used:
1. map_sr_cross - Number of times the support/resistance lines has been crossed by price
2. map_sr_type - R=resistance, S=support
3. color_map - color for support and resistance lines
4. style_map - line styles. Support/resistance lines as solid style and support turned resistance/resistance turned support lines as dotted style.
Master Pattern [LuxAlgo]The Master Pattern indicator is derived from the framework proposed by Wyckoff and automatically displays major/minor patterns and their associated expansion lines on the chart.
Liquidity levels are also included and can be used as targets/stops. Note that the Liquidity levels are plotted retrospectively as they are based on pivots.
🔶 USAGE
The Master Pattern indicator detects contraction phases in the markets (characterized by a lower high and higher low). The resulting average from the latest swing high/low is used as expansion line. Price breaking the contraction range upwards highlights a bullish master pattern, while a break downward highlights a bearish master pattern.
During the expansion phase price can tend to be stationary around the expansion level. This phase is then often followed by the price significantly deviating from the expansion line, highlighting a markup phase.
Expansion lines can also be used as support/resistance levels.
🔹 Major/Minor Patterns
The script can classify patterns as major or minor patterns.
Major patterns occur when price breaks both the upper and lower extremity of a contraction range, with their contraction area highlighted with a border, while minor patterns have only a single extremity broken.
🔶 SETTINGS
Contraction Detection Lookback: Lookback used to detect the swing points used to detect the contraction range.
Liquidity Levels: Lookback for the swing points detection used as liquidity levels. Higher values return longer term liquidity levels.
Show Major Pattern: Display major patterns.
Show Minor Pattern: Display minor patterns.
Extrapolated Previous Trend [LuxAlgo]The Extrapolated Previous Trend indicator extrapolates the estimated linear trend of the prices within a previous interval to the current interval. Intervals can be user-defined.
🔶 USAGE
Returned lines can be used to provide a forecast of trends, assuming trends are persistent in sign and slope.
Using them as support/resistance can also be an effecting usage in case the trend in a new interval does not follow the characteristic of the trend in the previous interval.
The indicator includes a dashboard showing the degree of persistence between segmented trends for uptrends and downtrends. A higher value is indicative of more persistent trend signs.
A lower value could hint at an anti-persistent behavior, with uptrends over an interval often being followed by a down-trend and vice versa. We can invert candle colors to determine future trend direction in this case.
🔶 DETAILS
This indicator can be thought of as a segmented linear model ( a(n)t + b(n) ), where n is the specific interval index. Unlike a regular segmented linear regression model, this indicator is not subject to lookahead bias, coefficients of the model are obtained on previous intervals.
The quality of the fit of the model is dependent on the variability of its coefficients a(n) and b(n) . Coefficients being less subject to change over time are more indicative of trend persistence.
🔶 SETTINGS
Timeframe: Determine the frequency at which new trends are estimated.
Liquidity PeaksThe "Liquidity Peaks" indicator is a tool designed to identify significant supply and demand zones based on volumetric analysis. It analyzes the volume profile within a specified lookback range to pinpoint the most volumetric point and draw corresponding zones on the price chart.
The 𝐋𝐢𝐪. 𝐏𝐞𝐚𝐤𝐬 indicator utilizes volume data to identify key supply and demand areas on the price chart. By examining the volume profile within a defined lookback range, it highlights three distinct zones: liquidity grab, volume containment, and the most volumetric point.
Zones and their meanings:
Liquidity grab (Orange box): This zone represents a price level where there is a significant swipe of the previous demand zone within the volume range. It indicates a potential shift in market sentiment and serves as a key supply or demand area.
Volume containment (Gray box): This zone displays the area of volume contained before the peak in volume. It provides insights into the range where buying or selling pressure was concentrated, highlighting potential support or resistance levels.
Most volumetric point (Light blue box): This zone represents the point within the lookback range that exhibits the highest volume. It signifies a significant area of market interest and indicates a potential supply or demand level.
Adjustable options:
Adjust liquidity Grab: This option allows you to adjust the size of the boxes. When enabled, the box size is set to twice the size of the high or low of the candle's wick. This adjustment enhances the visibility and accuracy of identifying swipes at specific price levels.
Show origin: Enabling this option ensures that the liquidity boxes are drawn from the wick they were created from. This provides a clear visual reference to the specific candle and highlights the liquidity levels associated with it.
Utility:
The 𝐋𝐢𝐪. 𝐏𝐞𝐚𝐤𝐬 indicator is a valuable tool for traders and investors seeking to identify significant supply and demand zones in the market. By analyzing volume data and drawing corresponding zones on the chart, it helps to pinpoint areas where buying or selling pressure is likely to emerge.
Traders can utilize this information to identify potential support and resistance levels, plan their entries and exits, and make more informed trading decisions. The liquidity grab zones can act as potential reversal or breakout points, while the volume containment zones and most volumetric points provide insights into areas of high market interest.
It is important to note that this indicator should be used in conjunction with other technical analysis tools and indicators to confirm trading signals and validate market dynamics.
Example Charts:
RSI Chart LevelsThe RSI Chart Levels shows you in a simple way where Support/Resistance might be. You want to make sure all settings are the same in the RSI that you are using with this overlay to be accurate.
This is also good at spotting divergence in real-time. If price goes over the Higher High but the RSI hasn't gained a new Higher High it is showing divergence, vice versa for Lower Low.
This overlay was created with the idea of RSI Divergence Scanner by zdmre indicator. Add his RSI and match the settings to the chart overlay. The default Zigzag is set to 7 which zdmre settings is different so change to whatever you prefer.
Shoutout to zdmre original work!
Liquidity Sentiment Profile [LuxAlgo]The Liquidity Sentiment Profile is an advanced charting tool that measures by combining PRICE and VOLUME data over specified anchored periods and highlights within a sequence of profiles the distribution of the liquidity and the market sentiment at specific price levels.
The Liquidity Sentiment Profile allows traders to reveal significant price levels, dominant market sentiment, support and resistance levels, supply and demand zones, liquidity availability levels, liquidity gaps, consolidation zones, and more based on price and volume data.
Liquidity refers to the availability of orders at specific price levels in the market, allowing transactions to occur smoothly.
🔶 USAGE
A Liquidity Sentiment Profile is a combination of a liquidity and a sentiment profile, where the right part of the profile displays the distribution of the traded activity at different price levels and the left part displays the market sentiment at those price levels.
The Liquidity Sentiment Profiles are visualized with different colors, where each color has a different meaning.
The Liquidity Sentiment Profiles aim to present Value Areas based on the significance of price levels, thus allowing users to identify value areas that can be formed more than once within the range of a single profile.
Level of Significance Line - displays the changes in the price levels with the highest traded activity (developing POC)
🔶 SETTINGS
The script takes into account user-defined parameters and plots the profiles, where detailed usage for each user-defined input parameter in indicator settings is provided with the related input's tooltip.
🔹 Liquidity Sentiment Profiles
Anchor Period: The indicator resolution is set by the input of the Anchor Period, the default option is AUTO.
🔹 Liquidity Profile Settings
Liquidity Profile: Toggles the visibility of the Liquidity Profiles
High Traded Nodes: Threshold and Color option for High Traded Nodes
Average Traded Nodes: Color option for Average Traded Nodes
Low Traded Nodes: Threshold and Color option for Low Traded Nodes
🔹 Sentiment Profile Settings
Sentiment Profile: Toggles the visibility of the Sentiment Profiles
Bullish Nodes: Color option for Bullish Nodes
Bearish Nodes: Color option for Bearish Nodes
🔹 Other Settings
Level of Significance: Toggles the visibility of the Level of Significance Line
Profile Price Levels: Toggles the visibility of the Profile Price Levels
Number of Rows: Specify how many rows each profile histogram will have. Caution, having it set to high values will quickly hit Pine Script™ drawing objects limit and fewer historical profiles will be displayed
Profile Width %: Alters the width of the rows in the histogram, relative to the profile length
Profile Range Background Fill: Toggles the visibility of the Profiles Range
🔶 LIMITATIONS
The amount of drawing objects that can be used is limited, as such using a high number of rows can display fewer historical profiles and occasionally incomplete profiles.
🔶 RELATED SCRIPTS
🔹 Buyside-Sellside-Liquidity
🔹 ICT-Concepts
🔹 Swing-Volume-Profiles
Market Structure CHoCH/BOS (Fractal) [LuxAlgo]The Market Structure CHoCH/BOS (Fractal) indicator is an experimental take on classical market structure, whereas fractal patterns are used for their construction instead of swing points.
Compared to utilizing swing points for highlighting market structure like our Smart Money Concepts indicator , fractal-based market structure can appear as more adaptive, however, it can also be more restrictive when it comes to returning swing points which can cause the indicator to miss reversals in some cases.
If enabled from within the settings, users can see support and resistance levels returned from the detected market structure with breakouts highlighted on the chart. Alongside this feature, an additional dashboard showing the structure to fractal structure percentage is also provided.
🔶 SETTINGS
Length: Length of the fractal patterns to detect.
🔹 Style
Bullish Structures: Show bullish structures.
Bearish Structures: Show bullish structures.
Support: Show support levels.
Resistance: Show resistance levels.
🔹 Dashboard
Show Dashboard: Show structure to fractal percentage dashboard on the chart.
Location: Location of the dashboard on the chart.
Size: Dashboard size.
🔶 USAGE
Market structure is commonly used to determine trend direction by using price positions relative to prior swing points. Using fractal patterns to determine market structure can allow users to obtain shorter, more frequent structure labels.
Market structure is commonly classified as follows:
Change of Character (CHoCH), also referred to as Market Structure Shift (MSS)
Break of Structure (BOS), also referred to as Market Structure Break (MSB)
Change of Characters indicate a shift in the market trend, confirming trend reversals. Break of Structures on the other hand occur once a trend is already determined, confirming new higher highs/lower lows.
Using higher length values allow users to detect longer-term fractals, thus highlighting longer-term market structures. The image above detects fractal patterns made of 7 candles, even if the increment is only of 2 bars this significantly reduces the amount of detected market structure labels.
The result obtained by utilizing fractals and higher settings can be a more dynamic view of market structure, however, as seen in the image above this can introduce very significant delay compared to utilizing pure swing points.
🔹 Support/Resistance
The indicator also returns support/resistance levels constructed from the market structure, these levels are obtained similarly to order blocks, finding the minimum on the interval of a bullish market structure and the maximum of a bearish market structure.
Price reaching a support/resistance level can be expected to bounce from it. Once a level is broken, the support/resistance level will no longer extend, and a circle will be displayed highlighting the break.
While utilizing this script for fractal-based market structure, these levels can be useful to ensure all swing points are still considered by the user with the possibility of the indicator missing reversals due to its calculation not being based on swing points themselves.
🔹 Dashboard
The dashboard reports the structure to fractal percentage, that is the amount of bullish/bearish market structures relative to the total amount of detected bullish/bearish fractal patterns.
This allows us to see how often a detected fractal pattern is used to display a market structure.
🔶 DETAILS
🔹 Fractals
In the context of technical analysis, Fractals refer to specific patterns that exhibit self-similarity at different scales or timeframes.
The most commonly known fractal pattern consists of a consecutive sequence of candles (more commonly 5), with the central candle being the lowest (in case of a bullish fractal) or highest (in case of a bearish fractal).
A bullish fractal has candles on the right side of the central candle with increasing lows, while candles on the left side have decreasing lows.
A bearish fractal has candles on the right side of the central candle with decreasing highs, while candles on the left side have increasing highs.
🔶 RELATED SCRIPTS
🔹 Smart Money Concepts
🔹 Market Structure Trailing Stop
🔹 ICT Concepts
ThiccZonesThis indicator is a formula that includes 4 different zones which are different sizes based on the ticker you decide to use. It was optimized for SPY and other market ETFs but works well for all stocks on the market. The formula puts a zone at the previous day's high and low, and the previous 5 day's high and low. These zones are meant to be used as support and resistance and can even overlap, creating a 'master zone'. This is different than other zone indicators because the formula for these zones is something I created myself and have been unable to find on here. I have had the most success using a 1-15 minute chart and using my zones for reversal areas. I often look for other indications of reversal as well that line up with the area of the zones. It can also be used on the break and retest of these zones. I have found that when a stock breaks one of these zones it will often retest and continue that trend.
Period OpenA very simple indicator that displays the Open of the specified Timeframe
How to use this indicator?
1. Directional Bias
Bullish => Closing Price > Period Open
Bearish => Closing Price < Period Open
2. Support / Resistance
Each Period Open can be used as Support or Resistance
3. Take Profit Targets
Each Period Open can be used as targets for taking profit
Sup/Res Levels [QuantVue]Shows basic pivot point of support and resistance levels. Will show alerts for break of sup. or res. Allows for a volume filter for sup. res. breaks as well.
"B" means break of either a Sup. or Res. level with volume greater than the threshold.
"Bull/Bear Wick" means bullish/bearish candle on break.
Left - number of bars left hand side of the pivot .
Right - number of bars right hand side of the pivot .
Volume Thres. - the threshold value (%) for the Volume.
This indicator is useful to filter our insignificant breaks of sup. or res. Can help trader determine when to sit on their hands, or enter a trade.
Fibonacci Breakout Target LevelsFibonacci Extension
Fibonacci Extension is a powerful technical analysis tool that traders use to predict where the market might find support and resistance. It is based on the Fibonacci sequence and uses levels that are found by extending the 23.6%, 38.2%, 50%, 61.8%, and 100% Fibonacci ratios from a swing high or low. These levels can be used to find possible areas of support and resistance, and traders often use them to figure out when to get into or get out of a trade.
What does this indicator do?
This indicator gets five levels of the Fibonacci Extension and uses it for both the low and the high. The default lookback period is 10 days, and it checks for the highest and lowest price in that period. Then it calculates the extension levels and plots them, and it also adds a line that shows you the current breakout target levels.
How to use?
The primary use intended for this indicator is to be used to determine possible breakout target levels. Let's say you are trading a range and a breakout happens. You can use this indicator to determine possible take-profit zones and possible support and resistance zones.
Features:
Change the lookback period for the Fibonacci Extension levels.
Disable the Fibonacci Bands if you just want to see the FIB levels.
You can also change the 5 levels and add different Fibonacci numbers.
In this image, you can see how you can use this indicator to determine take-profit levels. The Fibonacci Extensions will determine potential support and resistance levels, which could be good places to exit your long or short positions.
Trading ChannelTrading Channel aims to be a canvas on which to develop any strategy that the user feels comfortable with.
The greatest utility of the script lies in the fact that it plots a channel over the price action, as a support and resistance pivot, within which the price action develops.
It is a script of maximum simplicity in concept and development, but at the same time presents robust support to the price action and a quick visual aid complementary to any indicators that the user works with, feels comfortable with, and uses as a basis for their strategies.
The script includes the following features (most of them disabled by default, available for potential use without the need to add additional indicators):
Fast SMA
Medium SMA
Slow SMA (disabled)
Fast EMA (disabled)
Medium EMA (disabled)
Slow EMA (disabled)
Pivot
Pivot SMA
P Multiplier
Set of resistance and support pivots according to the studies of John L. Person (R3, R2, R1, S1, S2, S3 and midpoints) (disabled by default)
Channel for the current time period in use
Channels for extended time periods (disabled by default)
Various trend, momentum, and overbought/oversold indicating labels (note that the calculations for their representation are based on SMA's even though EMA's are visualized).
SMA's/EMA's
Both are available as both are used as basic indicators for different types of strategies. The default selection of SMA's in this case is based on the fact that the script development is largely based on the studies shared by John L. Person in the area of pivots and by Bill Williams in the area of fractals. Note also that for that same reason the various trend, momentum, and overbought/oversold indicating labels are calculated based on them.
Set of resistance and support pivots
They are included as a consultation tool especially for the higher time periods. They can be used to mark the most interesting supports/resistances and not lose sight of them while operating in lower time periods. Marking monthly, weekly, and daily pivots can be very useful. Additionally, marking S1 and R2 for bullish trends, S1 and R1 for ranges, and S2 and R1 for bearish trends can provide an even more precise framework to work on.
P Multiplier
It is set by default at 4, and is the basis for being able to consider during the use of a specific time frame, the price action with respect to higher time frames. It is the multiplier used for the generation of channels for extended time periods.
Channel for the current time period in use
It is a channel formed by the maximum and minimum closing of the last 21 periods. This value is modifiable and its adjustment depends on the asset under study. 24/7 markets show good results with this adjustment (in the case of BTC really good).
This channel represents a pivot in the form of a yellow middle line, with its support and resistance extremes on the upper green and lower red lines. The same green and red lines, referenced this time to the maximum, are added and serve as possible stop-loss marks.
Channels for extended time periods
Enabling the maximum and minimum channels for extended periods can provide a better idea of the price situation (it is recommended to disable the channel in use and enable the upper one for consultation, it provides a better vision).
Identifying labels:
Following a summary explanation for possible long entries, the same but opposite should be considered for possible short entries:
Small green arrow under candle: indicates possible upward trend (pivot above pivot SMA)
Large green arrow under candle: indicates upward trend (pivot above pivot SMA and above fast SMA)
Green triangle over candle: indicates channel breakout, possible upward momentum (represented as a fractal as its concept is the same)
Green/red arrows at the bottom of the chart: intended to confirm the validity of a signal (should doubt green indications with red lower arrow and vice versa)
Green/red dots at the bottom of the chart: red represents areas of strong resistance and green signals of strong support (with red dots, proceed with caution despite green signals, and vice versa)
Comments
It is emphasized that the basic and most useful functionality of this script is to provide a reliable base on which to develop any strategy, as a framework for working.
If the identifying labels are used, it should be taken into account that the earliest will always be the most reliable and valuable, but their confirmation will always depend on the user's strategy.
Its use in conjunction with the "Pivot Position for Trading Channel" indicator can serve as a base for the development of different strategies, by providing indication of the relative position of the price within the channel.
This script is just a consultation tool with didactic goals, it should not be used as an investment recommendation and the information provided should not be relied upon as such.
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Trading Channel pretende ser un lienzo sobre el que desarrollar cualquiera que sea la estrategia con la que el usuario se sienta más cómodo.
La mayor utilidad del script radica en que se traza sobre la acción del precio un canal, a modo de pivotes de soporte y resistencia, dentro del cual se desarrolla la acción del precio.
Se trata de un script de máxima sencillez en concepto y desarrollo, pero que a la vez presenta un soporte robusto a la acción del precio y una ayuda rápida visual complementaria a cualquieras que sean los indicadores con los que el usuario trabaje, se sienta más cómodo y utilice como base de sus estrategias.
El script incluye las siguientes funcionalidades (la mayoría desactivadas por defecto, disponibles para su potencial uso sin necesidad de añadir indicadores adicionales):
- SMA rápida
- SMA media
- SMA lenta (desactivada)
- EMA rápida (desactivada)
- EMA media (desactivada)
- EMA lenta (desactivada)
- Pivote
- SMA de pivote
- Multiplicador de P
- Conjunto de pivotes resistencia y soporte de acuerdo a los estudios de John L. Person (R3, R2, R1, S1, S2, S3 y puntos medios) (desactivados por defecto)
- Canal para el periodo temporal en uso
- Canales para periodos temporales extendidos (desactivados por defecto)
- Diversas etiquetas indicativas de cambios de tendencia, de impulso y de sobrecompra y sobreventa (nótese que los cálculos para su representación están basados en SMA's aunque se visualicen EMA's).
SMA's/EMA's
Ambas disponibles pues tanto unas como otras son utilizadas como indicadores básicos para diferentes tipos de estrategias. La selección de SMA's por defecto en este caso se basa en que las bases para desarrollo del script son en gran medida los estudios compartidos por John L. Person en el área de pivotes y de Bill Williams en el área de los fractales. Nótese también que por esa misma razón las diversas etiquetas indicativas de cambios de tendencia, impulso y sobrecompra/sobreventa se calculan en base a ellas.
Conjunto de pivotes resistencia y soporte
Se incluyen como herramienta de consulta sobre todo para los periodos temporales más altos. Pueden utilizarse para marcar los soportes/resistencias de más interés y no perderlos de vista mientras se opera en periodos de tiempo más bajos. De acuerdo a los estudios de John L. Person, marcarse los pivotes mensuales, semanales y diarios puede resultar de mucha utilidad. Adicionalmente, marcar S1 y R2 para tendencias alcistas, S1 y R1 para rangos, y S2 y R1 para tendencias bajistas puede proporcionar un marco aún más preciso sobre el que trabajar.
Multiplicador de p
Está fijado por defecto en 4, y es la base para poder considerar durante el uso de una franja temporal concreta, la acción del precio respecto a franjas temporales superiores. Es el multiplicador utilizado para la generación de los canales para periodos temporales extendidos.
Canal para el periodo temporal en uso
Se trata de un canal conformado por los cierres máximos y mínimos de los últimos 21 periodos. Este valor es modificable y su ajuste depende del activo en estudio. Mercados 24/7 muestran buenos resultados con este ajuste (en el caso de BTC realmente buenos).
Este canal representa en cierta manera un pivote en forma de línea intermedia amarilla, con sus extremos de soporte y resistencia en las líneas verdes superior y roja inferior. Se añaden las mismas líneas verdes y rojas, referenciadas esta vez a los máximos, que sirven como posibles marcas de stop-loss.
Canales para periodos temporales extendidos
Habilitar los máximos y mínimos de canales de periodos extendidos puede proporcionar una mejor idea de la situación del precio (se recomienda deshabilitar el canal en uso y habilitar el superior para consulta, proporciona una mejor visión).
Etiquetas identificativas:
A continuación explicación resumida para posibles entradas en largo, lo mismo pero de modo opuesto debería considerarse para posibles entradas en corto:
Flecha verde pequeña bajo vela: indica inicio de tendencia en alza (pivote por encima de SMA de pivote y ambos por encima de SMA rápida)
Flecha verde grande bajo vela: indica tendencia en alza (pivote por encima de SMA de pivote y ambos por encima de SMA rápida y media)
Triángulo verde sobre vela: indica rotura de canal, posible impulso al alza (representado a modo de fractal pues su concepto es el mismo)
Flechas verdes/rojas a pie de gráfico: pretenden confirmar la validez de una señal (debería dudarse de las indicaciones verdes con flecha inferior roja y viceversa)
Puntos verdes/rojos a pie de gráfico: los rojos representan áreas de fuerte resistencia y los verdes de fuerte soporte (con puntos rojos, proceder con cautela pese a señales verdes, y viceversa)
Comentarios
Se insiste en que la funcionalidad básica y de mayor utilidad de este script es proporcionar una base confiable sobre la que desarrollar cualquier estrategia, a modo de marco de trabajo.
Si se hace uso de las etiquetas identificativas, debe tenerse en cuenta que las más prematuras siempre serán las más confiables y valiosas, pero que su confirmación siempre dependerá de la estrategia por parte del usuario.
Su uso en conjunción al indicador "Pivot Position for Trading Channel" puede servir de base para el desarrollo de diferentes estrategias, al proporcionar indicación de la posición relativa del precio dentro del canal.
Este script es solo una herramienta de consulta con objetivos didácticos, no debe ser utilizado como recomendación de inversión y no se debe confiar en ella como tal.
Trading Channel for BTCThe goal is to visualize, through basic but robust information, a channel that frames the price action, whose referenced limits and lines are indicative of potential entries and exits.
It is a simple but enormously reliable base for the development of different strategies.
The parameters for the script have been optimized for BTC. It shows good results in all time frames.
Red lines: support of closures and lows (indicative of potential points of purchase).
Green lines: resistance of closures and highs (indicative of potential points of sale).
Orange-gray line: proposed stop loss for long positions, at a ratio of 2:1.
Yellow line: midpoint of channel (as a reference for trend change detection or even possible take-profits).
White line: 8-period simple moving average (SMA).
Gray line: 21-period SMA.
Pink line: standard pivot.
Purple line: 3-period simple moving average pivot.
Blue lines (deactivated by default): standard range of support and resistance pivots (according to the studies of John L. Person).
A channel of support and resistance indicative of potential entry points is shown, both for short and long positions. The channel is based on the closures and the lowest and highest lows and highs of the last 21 periods, shifted one period.
In addition to showing the channel of support and resistance, the script also includes the display of two SMAs (simple moving averages) of 8 and 21 periods, as well as standard and 3-period simple moving average pivots, which can be used as support for entry decisions.
The script allows the user to develop more or less aggressive strategies, conditioning the entries to the price's contact, closure, or distance from the different proposed support and resistance lines, and confirming the same entries through possible SMA and/or pivot crosses, and exits in the same way.
The standard range of support and resistance lines, deactivated by default, is a consultation tool for the higher time frames (month, week, day) for the location of strong supports and resistances that may recommend or, on the contrary, discourage the execution of entries.
The strong point of the script is the visualization of a reliable channel within which the price action develops with basic and repetitive behavior: when the price touches one of the limits, it then goes to the opposite one. Based on that foundation, with the help of the indicators that are most familiar and/or reliable for the user, an infinity of strategies suitable for all types of traders can be developed.
This script is just a consultation tool with didactic goals, it should not be used as an investment recommendation and the information provided should not be relied upon as such.
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Se pretende visualizar por medio de información básica pero robusta, un canal que enmarca la acción del precio, cuyos límites y líneas referenciadas son indicativos de potenciales entradas y salidas.
Resulta una base simple pero enormemente confiable para el desarrollo de diferentes estrategias.
Los parámetros para el script han sido optimizados para BTC. Muestra buenos resultados en todos los marcos temporales.
Líneas rojas: soportes de cierres y mínimos (indicativas de puntos potenciales de compra).
Líneas verdes: resistencias de cierres y mínimos (indicativas de puntos potenciales de venta).
Línea gris anaranjada: propuesta de stop loss para posiciones en largo, a razón de 2:1.
Línea amarilla: punto medio de canal (como referencia para detección de cambios de tendencia o incluso posibles take-profit).
Línea blanca: SMA (promedio móvil simple) de 8 periodos.
Línea gris: SMA de 21 periodos.
Línea rosa: pivote estándar.
Línea morada: pivote de media simple de 3 periodos.
Líneas azules (desactivadas por defecto): abanico de pivotes de soportes y resistencias estándar (según los estudios de John L. Person).
Se muestra un canal de soportes y resistencias indicativas de puntos potenciales de entradas tanto en corto como en largo. El canal se basa en los cierres y los mínimos y máximos más bajos y más altos de los últimos 21 periodos, desplazados un periodo.
Además de mostrar el canal de soportes y resistencias, el script incluye también la visualización de dos SMA's (promedios móviles simples) de 8 y 21 periodos, así como pivotes estándar y de media simple de 3 periodos, que se pueden utilizar como apoyo para las decisiones de entrada.
El script permite al usuario desarrollar diferentes estrategias más o menos agresivas, condicionando las entradas al contacto, al cierre o al alejamiento del precio respecto a las diferentes líneas de soporte y resistencia propuestas, pudiendo confirmar las mismas entradas por posibles cruces de SMA's y/o pivotes, y las salidas de igual manera.
El abanico de soportes y resistencias estándar, desactivadas por defecto, son herramienta de consulta para los marcos temporales más altos (mes, semana, día) para localización de resistencias y soportes fuertes, que pudieran recomendar o, por el contrario, desaconsejar la ejecución de entradas.
El punto fuerte del script es la visualización de un canal confiable dentro del que se desarrolla la acción del precio con un comportamiento básico y repetitivo: al tocar el precio uno de los límites, se dirige después al opuesto. Sobre esa base, con la ayuda de los indicadores que resulten más conocidos y/o confiables para el usuario, se pueden desarrollar infinidad de estrategias adecuadas para todos los tipos de trader.
Este script es solo una herramienta de consulta con objetivos didácticos, no debe ser utilizado como recomendación de inversión y no se debe confiar en ella como tal.
Sessions [LuxAlgo]This indicator shows when user set sessions are active and returns various tools + metrics using the closing price within active sessions as an input. Users have the option to change up to 4 session times.
The indicator will increasingly lack accuracy when the chart timeframe is higher than 1 hour.
Settings
Sessions
Enable Session: Allows to enable or disable all associated elements with a specific user set session.
Session Time: Opening and closing times of the user set session in the hh:mm format.
Range: Highlights the associated session range on the chart.
Trendline: Returns the associated session trendline on the chart.
Mean: Returns the associated session mean average on the chart.
VWAP: Returns the associated session volume weighted average price on the chart.
Ranges Settings
Range Area Transparency: Transparency of the area highlighting sessions ranges.
Range Outline: Highlights the borders of the session range area.
Range Label: Shows the session label at the mid-point of the session interval.
Dashboard
Show Dashboard: Enables sessions dashboard on the chart.
Advanced Dashboard: Returns more information regarding user set sessions on the dashboard.
Dividers
Show Session Divider: Highlights active sessions using intervals on the bottom of the chart (this can lead to less responsive charts)
Show Daily Divider: Highlights days on the chart.
Usage
This tool is versatile and allows the user to perform a wide variety of tasks all focusing on highlighting and analyzing price movements within a specific user set session in a periodic fashion.
Significant forex trading sessions are used by default, but the users are free to choose the opening and closing time of their choices.
Using ranges can indicate which sessions returned the most volatile price movements.
Trendlines can be useful to estimate the underlying trend of a specific session, but they can also offer a quick way to see which session started a trend reversal.
The session Mean highlights the equilibrium level within a session, extrapolating these levels can provide potential support and resistances levels of interest.
Finally, users can use the sessions VWAP's for real time applications, using them as trailing supports and resistances.
Using The Advanced Dashboard
The advanced dashboard returns useful information regarding the user set sessions. Each dashboard elements are described below:
Status: Highlights whether the user set session is active (open) of inactive (closed).
Trend: Shows correlation coefficient between the session prices and a linear sequence of values. Values above 0 indicates an up-trending session, while values under 0 indicates a down-trending session. Values closer to (1, -1) indicates a more trending session.
Volume: Shows accumulated volume within the session
σ (Standard Deviation): Shows standard deviation of the session, while this value is not bounded it can be useful to compare it with the other ones to see which session was the most volatile.
Note that when a session becomes inactive the value on the dashboard will hold until the specific session becomes active again.
