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.
Supportandresitance
SRTL, 2EMA & TRAMASRTL - Support Resistance and Trend Line with Double EMA and TRAMA
The SRTL indicator is a powerful tool for technical analysis that seamlessly integrates support and resistance levels, trend lines, and moving average signals. It offers traders a comprehensive view of the market's dynamics, making it a valuable addition to any trading toolkit. Here's a concise summary of its key features and functionalities:
Key Features:
- Dynamic Support and Resistance Levels based on Pivot Points
- Trend Lines based on Recent Pivot Points
- Double Exponential Moving Averages (EMA) with adjustable lengths
- Trend Regularity Adaptive Moving Average (TRAMA) for trend identification
- Buy and Sell signals based on the crossover of EMAs
The indicator is composed of 4 main components:
1. Support and resistance levels: The indicator calculates support and resistance levels based on pivot points and a channel width parameter. These levels can be used to identify potential entry and exit points for trades. The script calculates and plots dynamic support and resistance levels based on pivot points. Users can adjust the period for calculating pivot points, loopback period, and S/R strength to customize the levels' sensitivity.
2. Trend Lines: The script identifies and plots trend lines based on recent pivot points. Users can customize the number of pivot points to consider and the start date to begin plotting the trend lines. The script identifies and plots trend lines based on recent pivot points. By adjusting the number of pivot points to consider and the start date, traders can visualize potential trends and assess the market's overall direction. This feature helps traders understand the prevailing market sentiment and make informed trading decisions.
3. Double Exponential Moving Averages (EMA): The script calculates and plots two Exponential Moving Averages (EMA) with customizable lengths. A crossover of these EMAs can be used as a signal for potential trend changes. The study calculates and displays two Exponential Moving Averages (EMA) with adjustable lengths. The crossover of these EMAs serves as a crucial signal for potential trend changes. When the faster EMA crosses above the slower EMA, a "Buy" signal is generated, and when the faster EMA crosses below the slower EMA, a "Sell" signal is generated.
4. Trend Regularity Adaptive Moving Average (TRAMA): The script calculates and plots the TRAMA, a unique adaptive moving average that helps identify trends and adapt to market conditions. The indicator includes the Trend Regularity Adaptive Moving Average (TRAMA), an adaptive moving average designed to identify trends and adapt to varying market conditions. TRAMA helps traders gauge the strength of a trend and provides valuable insights into potential trend reversals.
5. Signals: The script generates "Buy - Green" and "Sell- Red" signals based on the crossover of the two EMAs and Pivot Point Trend Levels. That Also Customizable.
How to Use:
The SRTL indicator is a powerful tool for technical analysis, offering multiple layers of information for traders. When the price approaches dynamic support or resistance levels, The dynamic support and resistance levels are based on pivot points and adjust to the market's current conditions. The trend lines help visualize potential trends and can be adjusted to show different numbers of pivot points. Additionally, the Double EMA and TRAMA lines provide further insight into the market's momentum and potential reversals. Traders can assess the potential for trend reversals or breakouts. The trend lines help visualize the market's prevailing direction, and the crossover of the Double EMA signals potential entry and exit points.
Traders should use this study as part of a broader trading strategy and combine it with other technical indicators, fundamental analysis, and risk management techniques. Additionally, it's essential to test the indicator thoroughly in a demo or back testing environment before applying it to live trading to ensure its compatibility with individual trading styles and preferences.
Variety Volatility Supertrend w/ Bands [Loxx]Variety Volatility Supertrend w/ Bands indicator is a powerful and highly customizable tool for traders. Building upon the foundational concept of the classic Supertrend indicator, this variant adds a plethora of user-driven options and features that can cater to diverse trading styles and market scenarios.
The Supertrend indicator is traditionally used to identify market trends by overlaying a line on the price chart, which changes color and position in relation to the price based on the trend direction. The Variety Volatility Supertrend w/ Bands takes this a step further by offering various volatility calculations, visual enhancements, explicit trading signals, and alert conditions.
It provides five options for volatility calculations, enabling users to select the most suitable measure for their strategy. This indicator also allows users to control the display of the upper, lower, and mid bands, which can serve as dynamic support and resistance levels. Further, it can display explicit trading signals when the trend changes direction and set up alerts for these signals.
█ User Inputs
Source: Defines the source of the price data, typically the closing price.
Period: Defines the lookback period for the chosen volatility calculation.
Mid Price Period: Defines the number of periods for calculating the mid-price.
Multiplier: The factor by which the volatility measure (e.g., ATR) is multiplied.
Volatility Type: The user can choose one of five different calculations for the volatility measure: ATR, Standard Error, Standard Deviation, Custom Standard Deviation with Sample Correction, and Custom Standard Deviation without Sample Correction.
Classic Supertrend: Enables the classic version of the Supertrend indicator if set to true.
Show Upper Band, Show Lower Band, Show Mid: Determines whether the upper, lower, and middle bands of the Supertrend indicator are displayed.
Outer Line Width, Mid Line Width: Controls the line widths of the outer and middle lines.
Color Bars: Colors the price bars based on the direction of the trend if enabled.
Show signals: Displays trading signals on the chart if enabled.
Bull Color, Bear Color: Controls the colors of the Supertrend indicator during bullish and bearish market conditions.
█ Computations
The script begins by calculating the chosen volatility measure (ATR, Standard Error, Standard Deviation, etc.) and the mid-price, which is the average of the highest and lowest prices over the specified Mid Price Period. It then calculates the upper and lower bands by adding and subtracting the product of the Multiplier and the volatility measure from the mid-price.
The script then compares the current price with the previous upper and lower bands to determine the trend direction. If the current price is greater than the previous upper band, the trend is considered bullish. If it's less than the previous lower band, the trend is bearish.
█ Visualizations
The script plots the upper, lower, and mid bands on the chart based on the user's settings. If Color Bars is enabled, the script colors the price bars based on the trend direction. If Show signals is enabled, the script displays shapes on the chart to represent trading signals when the trend changes direction.
█ Alerts
Finally, the script sets up alert conditions for long and short trading signals. When these conditions are met, TradingView sends an alert to the user with a message indicating the indicator's name, the type of signal (long or short), and the symbol and closing price of the asset.
█ Visualization Modes
Classic Supertrend
The Classic Supertrend mode essentially transforms the "Variety Volatility Supertrend w/ Bands " indicator to behave more like the traditional Supertrend indicator.
In the traditional Supertrend indicator, there is a single line that shifts positions based on the trend direction. When the market is in an uptrend, the Supertrend line is plotted below the price, acting as a dynamic support level. Conversely, when the market is in a downtrend, the Supertrend line moves above the price, acting as a dynamic resistance level.
When you set Classic Supertrend to True in this script, it mimics this behavior. It will only display one line (the Supertrend line) instead of the upper and lower bands. The Supertrend line will switch between the calculated upper band and lower band based on the trend direction:
In an uptrend, it plots the lower band as the Supertrend line (acting as a dynamic support level).
In a downtrend, it plots the upper band as the Supertrend line (acting as a dynamic resistance level).
Thus, when Classic Supertrend is True, the display is similar to the regular Supertrend indicator, offering a more simplified, less cluttered view of the price trend.
See here for the Classic Supertrend
Supertrend Moving Average with Bands
When the Classic Supertrend option is turned off in the "Variety Volatility Supertrend w/ Bands " indicator, the indicator displays upper and lower bands along with the midline, depending on the user's settings. These bands can serve as dynamic support and resistance levels, and they move and adjust based on the market's volatility.
Support and resistance are key concepts in technical analysis. Support is a price level where the price tends to find a floor as it falls, indicating a greater amount of demand or buying interest that can prop up the prices. Resistance, on the other hand, is a price level where rising prices tend to stop rising, indicating a greater amount of supply or selling interest.
In the context of the "Variety Volatility Supertrend w/ Bands " indicator:
Upper Band: This can act as a dynamic resistance level in a downtrend. When prices are falling, they might struggle to rise above this band. If prices do break above the upper band, it could be a sign that the downtrend is reversing, and a new uptrend may be beginning.
Lower Band: Conversely, this can act as a dynamic support level in an uptrend. When prices are rising, they might bounce off this band and continue to rise. If prices break below the lower band, it could indicate that the uptrend is reversing, and a new downtrend may be beginning.
The benefit of these dynamic support and resistance levels is that they adjust automatically as market conditions change, potentially offering more relevant insights into price behavior compared to static support and resistance levels.
See here for the Supertrend Moving Average with Bands
█ Volatility Types
The "Variety Volatility Supertrend w/ Bands " indicator provides five options for the volatility calculation. Volatility is a statistical measure of the dispersion of returns for a given security or market index. In most cases, the higher the volatility, the riskier the security. Here's a quick summary of each option:
Average True Range (ATR): This is a common volatility measure in the world of trading, particularly for commodities and forex markets. It measures the average of true price ranges over a specified period. The true range considers the most recent period's high-low range, the previous close to the most recent high, and the previous close to the most recent low, taking the highest value.
Standard Error: This is a measure of the accuracy of predictions made with statistical techniques. In the context of trading, the standard error can give traders an idea of the quality of their volatility or price level estimates. It's calculated using the standard deviation of the price data, the square root of the number of data points.
Standard Deviation: This is a measure of the dispersion of a set of data from its mean. It's a commonly used volatility measure in finance. In trading, a higher standard deviation suggests greater price volatility.
Custom Standard Deviation - with Sample Correction: This is a variation of the standard deviation calculation, but it applies a correction for small sample sizes. It's calculated similarly to the standard deviation, but the sum of the squares is divided by (n-1) instead of n to provide a more accurate estimate when working with a small number of data points.
Custom Standard Deviation - without Sample Correction: This is another variation of the standard deviation calculation, but without the sample correction. This might be used when the number of data points is sufficiently large that the correction is not necessary.
The choice of volatility measure can have a significant impact on the sensitivity of the Supertrend indicator. Some measures may result in wider bands and fewer trend changes, while others may produce narrower bands and more frequent trend changes. The choice of volatility measure should align with the trader's strategy and risk tolerance.
█ Multiple Timeframe options
The "Variety Volatility Supertrend w/ Bands " indicator, like most indicators on the TradingView platform, can be applied to various timeframes, regardless of the chart's current timeframe. The timeframe of an indicator is determined by the timeframe of the price data it processes.
This indicator's flexibility with timeframes allows it to be used in different trading strategies. Day traders might use shorter timeframes like 1-minute or 15-minute charts, swing traders might use 1-hour or 4-hour charts, and long-term investors might use daily or weekly charts.
See here for the Supertrend Moving Average with Bands on 4-hour chart using Daily data
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.
BladeSCALPER by MetaSignalsProBladeSCALPER
The sharpest tool to scalp M and W patterns
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✔️ Get a clear signal of the next probable reversal move
✔️ Get instantly the zone where the price will probably get attracted to
✔️ Adjust TP1/TP2/TP3 accordingly to the PowerZONES
✔️ Check the winning rate of the M & W patterns on a time period
✔️ Optimize the probability of success of the M & W patterns
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📌 For who?
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Initialy, scalping is based on small moves, supposedly more predictable than big ones and repeating this operation many times.
For that, scalping means usally daytrading and not everybody can/want to be a daytrader: managing one's emotions is just critical;
But you can also use this indicator on a bigger time frame and trade when you want the M & Ws!
So basicaly BladeSCALPER is for anybody who wants to trade succesfully M&W patterns whatever Timeframe, whatever asset!
📌 For which asset?
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BladeSCALPER is universal and works fine on all assets and all time-frames;
📌Why we made these innovations?
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"Double Tops" and "Double Bottoms", commonely called "M" and "W" as the letter explicitely shows these patterns, are some of the most predictive patterns you can find.
To exploit them, we needed to have an all in one tool:
◾ a very sharp scalping and innovative tool with embed statistics
◾ identify Risk/Reward ratio for TakeProfits
◾ and advanced Supports and Resistances information i.e the PowerZONES
📌 How to trade with BladeSCALPER ?
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🔹 ScalpUP / ScalpDOWN Signals
The signals are given when the patterns of M and W are identified, in real time and do not repaint.
☝️ Quite often the Market will test the bottoms and the tops before validating such a figure;
👉 Only enter the trade when the candle closes clearly inside the coloured zone and not immediately on the signal.
🔹 PowerZONES
We innovated on the basic Supports and Resistances concept by adding new features with:
◾ zones that correspond better to real life trading than lines
◾ zones that change color depending of their position vs price : they turn red is the price is below them and blue if they are above.
◾ strength / attractivity of these zones = how many times the Support/Resistance have been touched in the past that will magnetize the price
◾ and distance between these zones to give a clear picture
Importance of the PowerZONES
In the current version, the TPs do not adjust to the PowerZONES, precisely to be able to keep a global statistical view;
☝️ But when you plan to trade on a signal, the real relevance is to adjust them according to the PowerZONES, of course;
👉 When buying, place your TPs just below the consecutive PowerZONES that the price could test
👉 When selling, place them just above the consecutive PowerZONES
🔹 TP1/TP2/TP3
TakeProfits are set theoretically and based on 3 risk/reward ratios: 1 / 1.5 / 2 ;
But of course this is just a setting to get an overall view of the effectiveness of the pattern on the current asset;
if you change these settings, you'll see that the Stats change accordingly.
☝️ Again, when you plan to trade on a signal, the real relevance is to adjust them according to the PowerZONES, of course;
🔹 StatsPANEL
With this innovative feature you can now see immediately
◾ the probability of win, based on the past patterns
◾ the exacts number of trades that have reached the TP1/TP2/TP3
◾ and more importantly the gains made by these trades in pips
We introduce also 2 important possibilities to improve the precision and relience of BladeSCALPER
◾ the PatternFACTOR can be changed; it defines a key percentage of the M & W patterns
◾ the MoveringAverageFILTER can be activated to
◽ suppress M patterns when the price is below the selected MovingAverage
◽ suppress W patterns when the price is over the selected MovingAverage
👉 Modifying these variables will change immediately the statistics just like the position of the TP1/TP2/TP3 and HistoryMax variables.
📌 Importance of setting up a Multi TimeFrame and doing a trend analysis
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Even if you are on a scalping mode, it is crucial you set up a Multi Time Frame workspace and that you conduct a trend analysis before entering the market.
If you don't, you won't maximize your chances;
No indicator is 100% reliable, because the market cannot be modelized; anyone who tells you otherwise is lying to your face;
However, a statistical approach to the market is possible, because agents are not incoherent.
This is the meaning of stats we apply on double tops and double bottoms;
But to reinforce this point, you need to know what's happening on the next higher time unit to get a global view.
To do this, it's important to do a trend analysis or have a trend analysis tool.
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🎛️ Configuration
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◾ Buy/Sell Signals: choose if you want to see only W or only M pattern signals
◾ PowerZones: uncheck if you don't want to see them (not recommanded)
◾ RewardBoxText: uncheck if you don't want to see the words "Entry, TP1, TP2, TP3"
◾ TakeProfit1/TakeProfit2/TakeProfit3: by default correspond to the multiple of the risk zone in grey under/above "Entry" i.e it is the classic concept of Risk/Reward ratio
◾ PowerZoneTouch: sets the number of time the zone has been touched
◾ PowerZoneDensity: increase this number if you want the number of zones to increase and reversely
◾ RewardBoxLength: adjust the standard number to the length of the anticipated move in duration
◾ StopLossExtraPoints: for a W pattern (ScalpUP) will bring lower the lower border of the RewardBOX; in a M pattern (ScalpDOWN) will bring higher the higher border of the RewardBOX; it will automatically move the distance of the TP1/TP2/TP3
◾ HistoryMax: the number of units taken into account to set the PowerZONES and the past M & W patterns
◾ PatternFactor: defines a key percentage of the M & W patterns
◾ MovingAverageFilter:
◽ untick (by default) : the filter is OFF
◽ ticked : the filter is ON
◾ MovingAveragePeriod: choose the speed of the average
◾ MovingAverageType: choose among all the types of averages available
◾ Applied to: define on which available moment of the Price the average is applied (close, open, highest...)
🛠️ Calculation & Precisions
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🔹 TP1/TP2/TP3
the 3 risk/reward ratios: 1 / 1.5 / 2 are multiples of the height of the grey zone = distance between your StopLoss and the entry line;
🔹 %WIN
Note that the % of success (%WIN) must be entered correctly;
Your risk/reward ratio is key and more important than the % success of the signal; you can have a % success of 30% (%WIN) which creates more points earned than a % success of 60% depending on your risk/reward ratio = the position of your TPs;
🔹 Calculation of points/pips
These are full points and we don't calculate partial outputs.
So if you have a tp1 at 20 and a tp2 at 100, if you get to tp2 you get 100 and not 20+100.
Stoplosses are of course calculated in negative.
🔹 PowerZONES
The originality of our concept is to test how many times a zone has been touched
The more the market has touched this zone the more probable it becomes a strategic zone where the liquidity will accumulate and thus will be chased!
Lune Technical Analysis Premium⬛️ Overview
Lune Technical Analysis is a state-of-the-art TradingView indicator, meticulously designed to provide real-time market insights. Distinguished by its non-repainting features that operate in real-time, this tool brings enhanced accuracy and timeliness to your market analysis.
🟦 Features
Lune Technical Analysis equips traders with an array of innovative features:
🔹 Candle Coloring: The Candle Coloring feature introduces an innovative approach to visualizing market sentiment by coloring chart candles. It is devised to streamline your market analysis, offering a readily digestible snapshot of market trends. For example, if you aim to gauge the predominant market sentiment promptly, enable this feature for instant candle color-coding in accordance with prevailing bullish or bearish market structures. Though it currently supports only Market Structure-based Candle Coloring, its settings can be manipulated for enabling or disabling this feature. This feature operates by applying predefined algorithms that interpret market sentiment, coloring the candles accordingly.
🔹 Chart Pattern Detection: This sophisticated tool automatically detects and illustrates common chart patterns on your chart, simplifying the process of pattern identification. It identifies a range of patterns such as Head & Shoulders, Inverted Head & Shoulders, Ascending/Descending Wedges, Broadening Wedges, various Triangles, and Double Tops/Bottoms, enhancing your confluence detection in the market. For example, upon detecting a Double Top pattern, you could anticipate a potential price reversal due to this bearish signal. The sensitivity of this tool can be customized according to your trading style, with lower settings for short-term changes and higher for long-term. This feature leverages predefined formulas and price action analysis to identify these patterns.
🔹 Trendlines: With the Automatic Trendline Drawing tool, your technical analysis becomes significantly more efficient and precise. This feature is engineered to identify upward and downward Trendlines, aiding in locating potential pivots, and market support/resistance. For instance, if the price consistently rebounds off a Trendline, it may continue to do so, serving as a support/resistance level. However, a break through the Trendline could signal potential volatility and trend change. This feature's sensitivity to price changes can be adjusted to either short or long-term. It works by tracing Trendlines based on price action and wick formations to detect potential pivots.
🔹 Liquidity Bubbles: Liquidity Bubbles is an advanced tool that pinpoints key liquidity areas and large positions in real-time. This feature significantly contributes to effective trading strategy formulation by highlighting potential entry and exit points. It operates in real-time, ensuring zero repaint or lag, and supports two modes: Enhanced Bubbles and Basic Bubbles. For instance, the detection of multiple bullish Liquidity Bubbles during a ranging market could suggest an upward price movement due to dominant bullish volume. This feature's settings include thresholds for insignificant bubble filtering and a mode selection feature. Liquidity Bubbles operates by applying a proprietary formula to volume data, determining general volume direction and potential positions.
🔹 Market Structure: The Market Structure tool identifies key market structures such as Break of Structures (BoS) and Change of Character (ChoCh), thereby enhancing your ability to read market trends and sentiment. This smart money concept gives you a unique insight into short-term and long-term market trends. For instance, the appearance of a bullish Break of Structure and Change of Character after a predominantly bearish market sentiment could suggest a new bullish trend. This feature allows users to select which Market Structures to display and calculates these structures based on the market's high and low points.
🔹 Order Blocks: Order Blocks provide a visual representation of areas where large market participants are likely to place orders. These zones, where significant buying or selling activity has occurred in the past, offer insightful data for future price movements. The Order Blocks feature operates in real-time, providing real-time Order Blocks without any lag. For instance, if the price enters a large Order Block with predominantly bullish volume, an upward price movement can be anticipated. However, if the price breaks through the block, it could suggest the block's invalidation and a likely continued price fall. You can configure the settings to enable an additional Order Block, customize timeframes, overlap functions, and apply a quality filter. This feature calculates Order Blocks using the volume and candle size data.
🔹 Supply/Demand Zones: This real-time tool identifies crucial supply and demand zones, revealing potential price reaction points. These zones, where supply (selling pressure) and demand (buying pressure) have historically impacted price significantly, provide traders with insights into potential areas of strong support (demand) and resistance (supply). For example, if the price enters a large supply zone, a price rejection could be anticipated due to historical selling pressure at this zone. The settings enable users to add an additional Supply/Demand Zone, customize the timeframe, and apply a quality filter. This feature identifies common Supply/Demand Zones patterns based on volume and the size of the zone and displays them on the chart.
🔹 Fair Value Gaps: The Fair Value Gaps tool is designed to identify potential price correction zones or "gaps". These areas, where the market price sharply deviated from the fair value, suggest potential price adjustments in the future. For instance, the formation of a bullish Fair Value Gap could indicate a future price drop to fill this gap, potentially followed by an upward movement if the gap was of fair value. The settings allow users to enable additional Fair Value Gaps, customize the timeframe, and apply a quality filter. This feature measures large market gaps based on the size of the gap and its volume.
These features and tools collectively offer a comprehensive solution for traders to understand and navigate the financial markets. It's important to remember that they are designed to assist in making informed trading decisions and should be used as part of a balanced trading strategy.
🟧 Usage
Lune Technical Analysis's unique feature set can be leveraged both individually and synergistically. It is important to understand each feature and experiment with different configurations to best suit your unique trading needs.
🔸 Example #1: The following example demonstrates how the Order Block and Liquidity Bubbles feature can be used together to enhance your market analysis.
Order Blocks work in real-time to identify key order zones based on price action. These zones are often crucial for predicting price fluctuations. Meanwhile, Liquidity Bubbles act as real-time visual cues that detect significant market positions, facilitating an understanding of market accumulation, distribution, and trapped positions.
In this instance, at point 1, a bearish Basic and Enhanced Liquidity Bubble is visible within a crucial Order Block. The combination of these indicators augments the bearish sentiment, leading to a potential price decrease. Similarly, at point 2, the conjunction of two bullish Basic Liquidity Bubbles within an Order Block strengthens the bullish sentiment, culminating in a subsequent price increase.
🔸 Example #2: The following example demonstrates how Supply and Demand Zones can be used to detect strong and quality supports and resistance.
Supply and Demand Zones operate in real-time, detecting crucial zones based on price action and volume. This feature is invaluable for predicting potential price reaction points.
At point 1, the price enters a Supply Zone, a historical hotspot for selling activity, which usually leads to a price rejection and consequent decrease. At point 2, a Demand Zone indicating a bullish sentiment suggests a potential reversal when the price touches this level.
🔸 Example #3: The following example demonstrates how the Chart Pattern Detection feature is able to detect chart patterns to help enhance your trades.
Chart Pattern Detection employs formulas and price action analysis to identify common chart patterns as they form. Here, it successfully detects a 'Head and Shoulders' pattern, a conventionally bearish pattern, indicating a potential price drop.
🟥 Conclusion
Lune Technical Analysis stands as an exceptional blend of real-time insights into market activity. Its real-time, non-repainting features offer traders a more precise and timely approach to market analysis, promoting improved decision making in ever-changing market conditions.
🔻 Access
You can see the Author's instructions below to get instant access to this indicator & our Premium Suite.
🔻 Disclaimer
Lune Technical Analysis is a tool for aiding in market analysis and is not a guarantee of future market performance or individual trading success. We strongly recommend that users combine our tool with their trading strategies and do their due diligence before making any trading decisions.
Remember, past performance is not indicative of future results. Please trade responsibly.
Dynamic Trailing Support & ResistanceDynamic Trailing Support & Resistance (DTSR) :
Hello Traders !!
DTSR is an objective dynamic support and resistance zone channel, Unlike subjective technical analysis DTSR finds S&R zones by calculating a range threshold within a given range over a specified lookback. FIB (Fibonacci) 38.2% and 61.8% retracement zones are also plotted for intermediate zones of resistance / support within the main resistance / support zones.
Plots
▾ <=> Close or high >= Trailing Resistance
▴ <=> Close or low <= Trailing Support
HH = The Highest High over the given Lookback period
LL = Lowest Low over the given Lookback period
Proximal Lines = The trailing S&R zones over the given lookback
Distal Lines = The HH or LL over the given lookback
DTSR Formula
note : This idea is not original to me, and was inspired by another creators work
Best Support And Resistance Indicator V1 [ForexBee]This Indicator Identifies and draws the support and resistance Zones On the Chart
🔶Overview
The support and resistance indicator is a technical indicator that will plot the support zone and resistance zone on the candlestick chart. It determines the price touches to find the strong support resistance zones.
The support and resistance indicator is the most basic technical analysis in trading. Instead of drawing zones manually, this indicator can save you time by plotting zones automatically.
🔶Working
There are specific characteristics of a valid support and resistance zone. Price always bounces upward from the support zone while it bounces downward from the resistance zone. On the other hand, when a breakout of the support or resistance zone happens, the price trends toward the breakout.
🔶Valid support zone
When the price touches a zone two to three times and bounces in a bullish direction, it is a good support zone.
The main point is that you should always find the bounces in clear price swings. The touches or bounces of the price must not be in the form of a choppy market. Price always moves in the form of swings or waves.
🔶Valid resistance zone
When the price touches a zone two to three times with a bounce in a bearish direction, then a valid resistance zone forms.
Here the price bounces must be in the form of swings or waves. You must avoid a choppy market.
So the support and resistance zone indicator finds these parameters on the chart and draws only valid zones.
🔶Settings of indicator
There are two inputs available in the indicator.
Number of bars for swing
The number of bars for the swing bars represents the size of the swing for a valid support or resistance touch. This parameter helps to filter the ranging price. the default value is 10.
Number of Tests for valid support and resistance
In this indicator, the number of pivots represents the support or resistance touches. so if you select the number 3, the indicator will only draw a zone with three touches.
🔶Features
There are the following features that this indicator identifies automatically, so you don’t need to do manual work.
Identify the valid support and resistance zones
Add the confluence of swings or waves during zone identification
Choppy market filter
We are also adding the feature of a candlestick pattern at the zone, which will be added in the next update.
Scalp Tool
This script is primarily intended as a scalping tool.
The theory of the tool is based on the fact that the price always returns to its mean.
Elements used:
1. VWMA as a moving average. VWMA is calculated once based on source close and once based on source open.
2. the bands are not calculated like the Bollinger Band, but only a settlement is calculated for the lower bands based on the Lows and for the upper bands based on the Highs. Thus the bands do not become thicker or thinner, but remain in the same measure to the mean value above or below the price.
3. a volume filter on simple calculation of a MA with deviation. Therefore, it can be identified if a volume breakout has occurred.
4. support and resistance zones which are calculated based on the highs and lows over a certain length.
5. RSI to determine oversold and overbought zones. It also tries to capture the momentum by using a moving average (variable selectable) to filter the signals. The theory is that in an uptrend the RSI does not go below 50 and in a downtrend it does not go above 50.
However, this can be very different depending on the financial instrument.
Explanation of the signals:
The main signal in this indicator Serves for pure short-term trading and is generated purely on the basis of the bands and the RSI.
Only the first bands are taken into account.
Buy signal is generated when the price opens below the lower band 1 and closes above the lower band 1 or the RSI crosses a value of 25 from bottom to top.
Sell signal is generated when the price opens above the Upper Band 1 and closes below the Upper Band 1 or the RSI crosses a value of 75 from top to bottom.
The position should be closed when the price hits the opposite band. Alternatively, it can also be closed at the mean.
Other side signals:
1. breakouts:
The indicator includes 2 support and resistance zones, which differ only in length. For the breakout signals, the short version of the R/S is used. A signal is generated when the price breaks through the zones with increased volume. It is then assumed that the price will continue to follow the breakout.
The values of the S/R are adjustable and marked with "BK".
The value under Threshold 2 defines the volume breakout. 4 is considered as the highest value. The smaller the value, the smaller the volume must be during a breakout.
2. bounce
If the price hits a S/R (here the long variant is used with the designation "Support" or "Resistance") and makes a wick with small volume, the script assumes a bounce and generates a Sell or Buy signal accordingly.
The volume can be defined under "Threshold".
The S/R according to the designation as well.
Combined signals:
If the value of the S/R BK and the S/R is the same and the bounce logic of the S/R BK applies and an RSI signal is also generated, a signal is also plotted.
Here the idea was to get very strong signals for possible swing entries.
4. RSI Signals
The script contains two RSI.
RSI 1:
Bullish signal is generated when the set value is crossed from the bottom to the top.
Bearish signal is generated when the set value is crossed from the top to the bottom.
RSI 2:
Bullish signal is generated when the set value is crossed from the top to the bottom.
Bearish signal is generated when the set value is crossed from bottom to top.
For RSI 2 the theory is taken into account according to the description under Used elements point 5
Optical trend filter:
Also an optical trend filter was generated which fills the bands accordingly.
For this the VWMA is used and the two average values of the band.
Color definition:
Gray = Neutral
Red = Bearish
Green = Bullish
If the mean value is above the VWMA and the mean value based on the closing price is above the mean value based on the open price, the band is colored green. It is a bullish trend
If the mean value is below the VWMA and the mean value based on the closing price is below the mean value based on the open price, the band is colored red.
The band is colored gray if the mean value is correspondingly opposite. A sideways phase is assumed.
The script was developed on the basis of the pair BTCUSD in the 15 minute chart and the settings were defined accordingly on it. The display of S/R for forex pairs does not work correctly and should be hidden. The logic works anyway.
When using the script, all options should first be set accordingly to the asset and tested before trading afterwards. It applies of course also here that there is no 100% guarantee.
Also, a strong breakout leads to false signals and overheating of the indicator.
Psychological levels (Bank levels) PsychoLevels v3 - TartigradiaPsychological levels (Bank levels) plots the closest "round" price levels above and below current price, based on neuroscience research of how humans intuitively calculate in logarithms.
Psychological levels, also called bank levels, are "round" price numbers, by truncating after the nth leftmost digits, around which price often experience resistance or support, because traders and investors tend to set orders around these round numbers.
The calculation done here is fully automatic and dynamic, contrary to other similar scripts, this one uses a mathematical calculation that extracts the 1, 2 or 3 leftmost digits and calculate the previous and next level by incrementing/decrementing these digits. This means it works for any symbol under any price range.
This approach is based on neuroscience research, which found that human brains intuitively approximate numbers on a logarithmic scale, adults and children alike, and similarly to macaques, for more info see Numerical Cognition , Weber-Fechner Law , Zipf law .
For example, if price is at 0.0421, the next major price level is 0.05 and medium one is 0.043. For another asset currently priced at 19354, the next and previous major price levels are 20000 and 10000 respectively, and the next/previous medium levels are 20000 and 19000, and the next/previous weak levels are 19400 and 19300.
IMPORTANT: Please enable "Scale price chart only" in the chart's scale's options, as otherwise major levels may make the chart's scale very small and hard to read.
How it works
At any time, there are 3 levels of strength (1 leftmost digit, 2 leftmost digits, 3 leftmost digits) represented by different sizes, and 3 directional levels for each of these strengths (level above, level below, and half-level) represented by different colors and positions, around current price.
Indeed, contrary to other similar price levels scripts, we do not plot ALL price levels at all times, because otherwise the chart becomes wayyy too cluttered, and also it's highly processing intensive to plot so many lines. So we here use a dynamical approach: we plot only the relevant levels, the closest ones according to current price.
Hence, when a level disappears, it does not mean that it does not exist anymore, but simply that we are not drawing it right now because it is not pertinent for the current price movement (ie, too far away).
Breakouts can be detected in two different ways depending on if SMA is set to a value higher than 1 or not: if SMA == 1, then there is no smoothing, so the levels adapt instantaneously to the current price, so to detect breakout, you should refer to the levels at the previous tick and whether they were broken by current tick's price; if SMA > 1, then there is some smoothing, and so the levels will stay in-place even if there is a breakout, so it's easier to spot breakouts without having to look at the previous ticks, but on the other hand you won't see the new levels for the new price range until after a few more ticks for the smoothing window to adapt. Hence, by default, smoothing is disabled, so that you can see the currently pertinent levels at all time, even right after or during a breakout.
By default, the strong above level is in green, strong below level is in red, medium above level is in blue, medium below level is in yellow, and weak levels aren't displayed but can be. Half levels are also displayed, in a darker color. Strong levels are increments of the first leftmost digit (eg, 10000 to 20000), medium levels are increments of the second leftmost digit (eg, 19000 to 20000), and weak levels of the third leftmost digit (eg, 19100 to 19200). Instead of plotting all the psychological levels all at once as a grid, which makes the chart unintelligible, here the levels adapt dynamically around the current price, so that they show the above/below/half levels relatively to the current price.
Indeed, "half-levels" are also displayed (eg, medium level can also display 19500 instead of only 19000 or 20000). This was made because otherwise the gap between two levels was too big, especially for the strongest levels (eg, there was no major level between 20000 and 30000, but with a half-step we also get a half-level at 25000, and empirically price tends to respect these half levels - I also tried quarter levels but empirically the results were not good). In addition to this hard-coded half-level, you can also create more subdivisions (eg, quarter levels) by setting the simple moving average to a value higher than 1.
The script can be made to run on the daily timeframe whatever the current chart's timeframe is, to reduce the variability in levels, to make it less noisy than intraday price movement. But by default, the chart resolution is used, because I empirically found that the levels found with this indicator work on all time resolutions quite well.
The step can be adjusted to increase the gap between levels, eg, if you want to display one every 2 levels then input step = 2 (eg, 22000, 24000, 26000, etc), or if you want to display quarter levels, input 0.25 (eg, 22000, 22250, 22500, etc). The default values should fit most use cases and cover most psychological levels.
How to read
Focust first on bigger dotted levels, they are stronger and more likely to cause a rebound or a major event or price to stay at this level.
Remember that it's not enough to just look at levels, the context is important, because levels have various effects depending on current price movement: if price is above a level, the level is a support on which price can rebound; if price is below a level, the level is a resistance on which price can rebound (or break); and finally sometimes price also stays hovering around a level for some time.
Levels closer to 9 are less weaker, and levels closer to 0 are stronger, according to Zipf law. This is now reflected since v3 in the transparency, levels that are closer to 9 will be more transparent.
The switch in color for the same level illustrates how a level switches from being a support to a resistance and inversely. Eg, if a major level turns from green to red, then it changed from being a resistance (above) to a support (below).
As is well known in trading, longer standing levels are stronger. This indicator provides a direct illustration: in practice, the number of consecutive dots on the same line influences the strength of the level: the longer the chain of dots, the more you can expect this price level to be significant. The length does not mean the level will necessarily hold, but that other traders are likely to monitor if it holds, and if not then price will break down. Hence, longer levels are good spots to place stop losses, or to enter trades depending on your strategy. In general, a single dot is not enough to consider a level significant, but 2 or more is a good enough level, and 10+ is a strong level. Intuitively, this makes sense, and is what pro traders do: the longer a level is tested, the stronger it is. This indicator can visually represent this intuition and allows to use it as a more systematic trading signal.
Motivation
I initially made the first version of the PsychoLevels indicator mainly to train with PineScript, but I found it surprisingly accurate to define levels that are respected by price movements. So I guess it can be useful for new traders and experienced traders alike, as it's easy to forget that psychological levels can often be as strong if not stronger than technical levels. It can also be used to quickly screen other minor assets for trading opportunities. For example, a hybrid strategy would be to manually define levels on BTCUSD but using this script to automatically define levels in crypto altcoins and quickly screen them for a trade opportunity that can be greater than with BTCUSD but with the same trend.
Personally, although initially I did not believe an automated tool would work well for this purpose, I could now empirically verify that it is quite reliable for the purpose of detecting levels, and so I use it all the time to find the levels automatically and help me monitor them like a hawk, so that I only have to draw uber major levels, the ones that last between cycles and that are hard to autodetect, but otherwise all daily/weekly levels are usually covered. However, trendlines must still be drawn manually or with another indicator (but note that up to now I have found none that worked well enough), as PsychoLevels only draws levels (ie, horizontal lines, not oblique ones!).
Differences with the previous version PsychoLevels v2
price levels now have a transparency according to their importance for the human brain: numbers closer to 9 are weaker, and numbers closer to 0 are stronger and represent a major psychological threshold (eg, that's why prices marked as $9.99 sell better than $10.00). This option can be disabled to get the exact same behavior as v2.
modularized and typed code
PsychoLevels v2 can be found here:
NSDT Custom High and Low LinesFirst, the credit for the original script to plot a High and Low between a certain time goes to developer paaax.
I took that idea, converted it to Pinescript V5, cleaned up the code, and added a few more lines so you can plot different levels based on time of day.
Published open source like the original.
The example shown has:
Blue - plotting from the start of the Futures Asian session to the start of the Futures USA Session. (6:00PM - 9:30AM Eastern)
Yellow - plotting from the start of the Futures Europe session to the start of the Futures USA Session. (3:00AM - 9:30AM Eastern)
Green - plotting from the start of the Futures US Premarket session to the start of the Futures USA Session. (8:00AM - 9:30AM Eastern)
These are great levels to use for breakouts and/or support and resistance.
Combine these levels with the 5 min Open Range levels, as you have some good trades.
Each of the three sessions have individual start and end times that can be modified by the trader, so you can easily mark off important areas for your style of trading.
Autodrawn Support and Resistance LevelsAutodrawn Support and Resistance Levels is an indicator that helps traders identify key support and resistance levels on a chart. These levels are important because they can help traders make decisions about when to buy or sell an asset. The indicator uses three lookback periods to identify recent highs and lows and then draws lines at the highest support and resistance levels for those periods. The lines are color-coded, with green indicating support and red showing resistance. The thickness of the lines can also be adjusted to match a trader's preferences. The lines are updated automatically as new data is added to the chart, making it easy for traders to identify new levels of support and resistance as they emerge. Overall, this indicator is a helpful tool for traders who want to quickly and easily identify critical levels on a chart to inform their trading decisions.
By having one lookback period on a medium-term timeframe (e.g. 50), a short-term timeframe (e.g. 10), and a long-term timeframe (e.g. 300), it can be easier to identify support and resistance levels that are relevant to the current market trend, and see multiple critical levels at once. This can help you make more informed decisions about when to enter and exit trades, as well as where to set stop-loss orders. It may be valuable to consider that as shorter-term and longer-term support/resistance levels become closer together, it is more likely for there to be a reversal in the opposite direction.
This indicator is less useful in markets that have strong trends, where the horizontal support and resistance levels are likely to be less useful than trend line support and resistance levels, however it works well in sideways trading markets
Note: reupload since previous description violated tradingview rules
Support & Resistance AnalyzerThis script analyzes the effectiveness of support and resistance (S&R) levels by examining their impact on price action. It measures the compression or reversion of price action around these levels to determine their overall performance.
To use the script, simply copy and paste the Moving Average (MA) or desired level script that you want to test. The results will be displayed in the data window for easy reference.
The script provides a metric called S&R overperformance or underperformance, which offers a concise summary of the S&R level's effectiveness. This metric is determined by comparing the price action near the S&R level to the overall price action throughout the dataset.
Additionally, the script includes specific metrics to further illustrate how the S&R level affects the price. These metrics provide more detailed insights into the S&R's influence on price action, enabling users to make better-informed decisions when applying S&R levels to their trading strategies.
Smart Support & Resistance(My goal creating this indicator): Provide a way to categorize and label key structures on multiple different levels so I can create a plan based on those observable facts.
The Underlying Concept / What is Momentum?
Momentum indicates transaction pressure. If the algorithm detects price is going up, that would be considered positive momentum. If the algorithm detects price is going down negative momentum would be detected.
The Momentum shown is derived from a price action pattern. Unlike my previous Support & Resistance indicator that used Super Trend, this indicator uses a unique pattern I created. On the first bar bearish momentum is detected a resistance Level is made at the highest point of the previous bullish condition. On the first bar bullish momentum is detected a support Level is made at the lowest point of the previous bearish condition. This happens on 5 different Momentum Levels, (short-term to long-term). I currently use this pattern to trade so the source code is protected.
What is Severity?
Severity is How we differentiate the importance of different Highs and Lows. If Momentum is detected on a higher level the Supply or Demand Level is updated. The Color and Size representing that Level will be shown. Demand and Supply Levels made by higher levels are more SEVERE than a demand level made by a lower level.
Technical Inputs
- to ensure the correct calculation of Support and Resistance levels change BAR_INDEX. BAR_INDEX creates a buffer at the start of the chart. For example: If you set BAR_INDEX to 300. The script will wait for 300 bars to elapse on the current chart before running. This allows the script more time to gather data. Which is needed in order for our dynamic lookback length to never return an error (Dynamic lookback length can't be negative or zero). The lower the timeframe the greater the number of bars need. For Example, if I open up a 1min chart I would enter 5000 as my BAR_INDEX since that will provide enough data to ensure the correct calculation of Support and Resistance levels. If I was on a daily chart, I would enter a lower number such as 800. Don't be afraid to play around with this.
- Toggle options (Close) or (High & Low) creates Support and Resistance Levels using the Lowest close and Highest close or using the Lowest low and Highest high.
Level Inputs
- The indicator has 5 Different Levels indicating SEVEREITY of a Supply and Demand Levels. The higher the Level the more SEVERE the Level.
Display Inputs
- You have the option to customize the Length, Width, Line Style, and Colors of all 5 different
- This indicator includes a Trend Chart. To Easily verify the current trend of any displayed by this indicator toggle on Chart On/Off. You also get the option to change the Chart Position and the size of the Trend Chart
How Trend Is being Determined?
(Close > Current Supply Level) if this statement is true technically price made a HH, so the trend is bullish.
(Close < Current Demand Level) if this statement is true technically price made a LL, so the trend is bearish.
- Fully customize how you display Market Structure on different levels. Line Length, Line Width, Line Style, and Line color can all be customized.
How it can be used?
(Examples of Different ways you can use this indicator): Easily categorize the severity of each and every Supply or Demand Level in the market (The higher Level the stronger the level)
: Quickly Determine the trend of any Level.
: Get a consistent view of a market and how different Levels are behaving but just use one chart.
: Take the discretion from hand drawing support and resistance lines out of your trading.
: Find and categorize strong levels for potential breakouts.
: Trend Analysis, use Levels to create a narrative based on observable facts from these Levels.
: Different Targets to take money off the table.
: Use Severity to differentiate between different trend line setups.
: Find Great places to move your stop loss too.
Multi-Timeframe High Low (@JP7FX)Multi-Timeframe High Low Levels (@JP7FX)
This Price Action indicator displays high and low levels from a selected timeframe on your current chart.
These levels COULD represent areas of potential liquidity, providing key price points where traders can target entries, reversals, or continuation trades.
Key Features:
Display high and low levels from a selected timeframe.
Customize line width, colors for high and low levels, and label text color.
Enable or disable the display of high levels, low levels, and labels.
Receive alerts when the price takes out high or low levels.
How to use:
It is important to note that using this indicator on it's own is not advisable. Instead, it should be combined with other tools and analysis for a more comprehensive trading strategy.
Possibly look to use my MTF Supply and Demand Indicator to look for zones to trade from at these levels?
If the price breaks above a high level, you might consider entering a long position, with the expectation that the price will continue to rise. Conversely, if the price breaks below a low level, you may think about entering a short position, anticipating further downward movement.
On the other hand, you can also use high or low levels to look for reversal trades, as these areas can represent attractive liquidity zones.
By identifying these key price points, you could take advantage of potential market reversals and capitalise on new trading opportunities.
Always remember to use this indicator in conjunction with other technical analysis tools for the best results.
Additionally, you can enable alerts to notify you when the price takes out high or low levels, helping you stay informed about significant price movements.
This indicator could be a valuable tool for traders looking to identify key price points for potential trading opportunities.
As always with the markets, Trade Safe :)
Order Blocks GenieThe purpose of this Genie Algorithm Indicator is to identify Zones of institutional interest , including Order Blocks , while marking the Full Range Zones as well, with powerful smart tracking algorithm to mark and remove the appropriate levels to take for entries.
Order Blocks can be observed at the beginning of a strong, aggressive move, leaving behind a zone to be revisited later for "balance" the market. Therefore, these are interesting levels to place Limit/Market orders (Sell the Peaks or Buy the Valleys).
A Bullish Order Block is the last Bearish candle of a downtrend before a sequence of Bullish candles (thus forming a "Valley"). While a Bearish Order Block is the last Bullish candle of an uptrend before a sequence of Bearish candles (thus forming a "Peak").
Prices of the levels could be printed on the Price Scale, as well as many detailed configurations of what activates these Peak/Valleys (Zones) such as a Breakout, Close, Hard Close or Full Close. See the Tooltips in the Settings for all details of each option.
The strategy is to take the Untested Levels as long as the chart is maintaining the trend (ladder), preferably going with the trend for a higher win rate (or against it for a quick scalp). Be mindful of the breaking of a ladder or building of a new one. A ladder breaks with a hard close of a candle across the closest two levels; a ladder builds by not breaking back down across the levels it has tested. Strong ladders will have a few untested levels and come back to wick them but still retain the structure of the laddering direction (trending with Lower Lows + Lower High or Higher Lows + Higher Highs).
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Definitions:
1st Zone: The zone between the start of the initial candle of the Full Range (backside edge) to the 50% of Full Range Line (Average, aka. Equilibrium).
2nd Zone: The zone between 50% of Full Range Line (Average, aka. Equilibrium) to the 50% of Order Block (final candle left behind in the range before the aggressive move out).
Full Zone: 1st + 2nd Zones together.
Line: placed first at 50% of Full Range, and in specific cases gets moved to the 50% of Order Block.
Rules (in order):
- Wick Line: Mark Line Tested (light color)
- Close Beyond the Zone: Invalidate Full Zone (Remove Full Zone + Remove Line)
- Hard Close anywhere inside the Zone: Invalidate Full Zone (Remove Full Zone + Remove Line)
- Close inside 2nd Zone: Invalidate Full Zone (Remove Full Zone + Remove Line)
- Close inside 1st Zone: Shrink 1st Zone + Keep 2nd Zone + Move Line to 50% of Order Block
- Wick inside (or beyond) 2nd Zone before shrinking: Shrink 1st Zone + Keep 2nd Zone + Move Line to 50% of Order Block
Rail Line Levels [s3]Plots support/resistance lines based on a neutral signal (white portion) of the Rail Line (variable moving average) for a period of time designated by the user (defaults to 9 bars). Support/Resistance lines will be removed after a period of tests and can be determined by the user (defaults to 26). Support/Resistance is deemed not as important or strong after several touches or tests. The trailer uses a combination of the calculation for the Rail Line (variable moving average) and an ATR to show the overall trend direction.
The indicator is centered around a Variable Moving Average. The Variable Moving Average (VMA) is a study that uses an Exponential Moving Average being able to automatically adjust its smoothing factor according to the market volatility.
In addition to the VMA, the indicator makes use of the ATR which measures market volatility by decomposing the entire range of an asset price for that period. The true range is taken as the greatest of the following: current high less the current low; the absolute value of the current high less the previous close; and the absolute value of the current low less the previous close.
Gann Square of 9Here it is, the Gann Square of 9. An easy-to-use tool to determine possible support and resistance levels. Input a starting value to be the starting point of the square. Then the increasing value will be used to get the value of each cell on the table.
It's possible to show the diagonals and a spot number to see what cell value the current price is close to. The diagonals are known to be the key support and resistance levels in Gann's analysis. That way, it's possible to show those diagonals in the chart for easy reading of those levels.
DEMO - FxCanli S/REN - FxCanli S&R indicator shows any drawings about Support & Resistance on charts
DEMO VERSION of FXCANLI S&R Indicator work with any NZD or any DOGE symbols
TR - FxCanli S&R indikatörü grafiklerinizde Destek & Direnç ile ilgili tüm çizimleri otomatik yapar
FXCANLI S&R indikatörünün DEMO VERSİYONUNU herhangi bir NZD veya DOGE sembolü ile kullanabilirsiniz.
EN - For Example | TR - Örnek
NZD|...
NZD|USD
NZD|CAD
NZD|CHF
NZD|JPY
DOGE|...
DOGE|USD
DOGE|USDT
DOGE|USDTPERP
DOGE|BTC
**ENGLISH**
This indicator shows;
1) Support Levels (Green Solid Line)
2) Resistance Levels (Red Solid Line)
3) Support Line (Green Dashed Line)
4) Resistance Line (Red Dashed Line)
ALERTS at;
Resistance Zone Breakout and Touch
Resistance Line Breakout and Touch
Support Zone Breakout and Touch
Support Line Breakout and Touch
AND AT PULLBACKS
COMBO BREAKOUTS
**TURKCE**
Bu indikatör grafiklerinizde;
1) Destek Seviyelerini (Yeşil Kesintisiz Çizgi)
2) Direnç Seviyelerini (Kırmızı Kesintisiz Çizgi)
3) Destek Çizgisini (Yeşil Kesikli Çizgi)
4) Direnç Çizgisini (Kırmızı Kesik Çizgi) çizer
Alarm Özellikleri;
Destek Bölgesi Kırılımı ve Teması
Destek Çizgisi Kırılımı ve Teması
Direnç Bölgesi Kırılımı ve Teması
Direnç Çizgisi Kırılımı ve Teması
VE PULLBACK lerde (GeriOnaylarda)
COMBO KIRILIMLARDA
Some Examples / Bazı Örnekler
s3.tradingview.com
s3.tradingview.com
s3.tradingview.com
s3.tradingview.com
The Perfect Support & ResistanceSupport & Resistance drawn based on overbought & oversold RSI . where the overbought acts as resistance and oversold acts as support.
It has 2 levels (for support and resistance - i call them level_n_high or level_n_low) for each lookback period. it checks the highest pivot and the lowest pivot based on the lookback period then we compare if rsi is higher than the highest pivot or the lowest pivot and we also check if rsi is overbought or oversold and if the statement is true, then we assign the high to the variable level_n_high or level_n_low. n being the number of levels. in total there are 5 levels with both high & low for 5 lookback periods. This is basically how the code works.
these levels can be accessed at any timeframe. the defaults are 5m and 30m.
RSI settings: (default)
-------------------
length - 14
source - close
overbought - 70
oversold - 30
lookback settings: (default)
---------------------
lookback_0 - 200
lookback_1 - 100
lookback_2 - 50
lookback_3 - 20
lookback_4 - 10
Timeframe Settings: (default)
-------------------
htf1 - 5m
htf2 - 30m
Enjoy!
Relative Price Volume
Relative Price Volume is an indicator which shows anomalies between price and volume on a chart over a given period. The goal is to identify potential reversal and/consolidation areas for price as it relates to volume. It is a simple variation of a Volume at Price indicators. It can also be used to mark potential support and resistance lines on the chart as the areas it signals is where the price battles are waged.
Settings:
Period = length for which to calculate average candle body and average volume
Long Factor = relative size multiplier to determine if a candle is larger than average or if volume is higher than average
Short Factor = relative size multiplier to determine if a candle is smaller than average or if volume is lower than average
Anomaly Conditions
1. If a candle is larger than average and volume is lower than average, then this is an anomaly, and we should be on alert for a change in momentum.
2. if a candle is smaller than average and volume is higher than average, then this too is an anomaly and should put us on alert.
The indicator will draw a cross on the chart indicating the candle is that is flashing the warning that the run is done and a potential consolidation and/or reversal is pending. Used in conjunction with support and resistance levels this could signal a time to enter or exit a trade.
The default size factors considers a candle or volume:
1. Larger than average if it is 60% or more (.6) larger than average.
2. Smaller than average if it is 40% or less (.4) smaller than average.
Hope this helps! Happy trading!
Liquidation Bands (+CVD Bubbles) - By LeviathanAlong with CVD bubbles, this script plots continuous bands that represent 100x, 75x, 50x, 25x liquidation levels. The bands can serve as support/resistance, reversal points, expected volatility range and more.
The indicator uses either the Exponential Moving Average (EMA) or the Volume Weighted Average Price (VWAP) as a base for plotting continuous lines and zones set at the approximate distance of 100x, 75x, 50x, 25x leverage liquidation prices.
These bands can help you visualize:
- Dynamic Support and Resistance levels
- Levels that the price will gravitate towards
- Expected price range (potential volatility)
- Reversal points
- ...
The "CVD Bubbles" part of this script plots circles that are based on my imitation of Cumulative Volume Delta (CVD).
CVD Bubbles will appear when buy/sell volume is increased. The larger the bubble, the more buying/selling at that candle.
"Buy Order" CVD Bubbles appear above candles and might signal:
- Late longers entering the market
- Large short liquidations (closed short=buy order)
- Large market buys getting absorbed by limit sell orders
=> Bias: potential reversal to the downside
"Sell Order" CVD Bubbles appear below candles and might signal:
- Late shorters entering the market
- Large long liquidations (closed long=sell order)
- Large market sells getting absorbed by limit buy orders
=> Bias: potential reversal to the upside
Combining Liquidation Bands and CVD Bubbles can serve you as confluence for taking a trade, but don't follow them blindly.
Settings:
"Mode" - Choose the base for Liquidation Bands (EMA or VWAP)
"EMA/CVD Length" - Choose the length (number of bars) for calculating EMA and CVD
"Level Calculation Mode" - Choose between 3 variations of calculating the distance to Liquidation Bands
"Standard Deviation Length" - Choose the length used for calculating the thresholds of CVD
"Appearance" - Choose the colors of lines, zones and CVD Bubbles
"STDEV MULT." - Multiply the thresholds used for CVD Bubble Sizes
Dynamic Linear Regression Oscillator | AdulariDescription:
This dynamic linear regression oscillator visualizes the general price trend of specific ranges in the chart based on the linear regression calculation, it automatically determines these ranges with pivot detection. The central line of the indicator is the baseline of the linear regression itself. This is a good tool to use to determine when a price is unusually far away from its baseline. The lines above or below it are overbought and oversold zones. These zones are based on the high or low of the range, in combination with the set multipliers.
The overbought and oversold lines indicate support and resistance; when the prices stay outside these levels for a significant period of time, a reversal can be expected soon. When the oscillator's value crosses above the signal or smoothed line the trend may become bullish. When it crosses below, the trend may become bearish.
This indicator is quite special, as it first determines price ranges using pivot detection. It then uses the middle of the range to determine how far the current price is from the baseline. This value is then rescaled compared to a set amount of bars back, putting it into relevant proportions with the current price action.
How do I use it?
Never use this indicator as standalone trading signal, it should be used as confluence.
When the value crosses above the signal this indicates the current bearish trend is getting weak and may reverse upwards.
When the value crosses below the signal this indicates the current bullish trend is getting weak and may reverse downwards.
When the value is above the middle line this shows the bullish trend is strong.
When the value is below the middle line this shows the bearish trend is strong.
When the value crosses above the upper line this indicates the trend may reverse downwards.
When the value crosses below the lower line this indicates the trend may reverse upwards.
Features:
Oscillator value indicating how far the price has currently deviated from the middle of the range. Proportioned to data from a set amount of bars ago.
Signal value to indicate whether or not the price is abnormally far from the middle of the range.
Horizontal lines such as oversold, overbought and middle lines, indicating possible reversal zones.
Automatic range detection using pivots.
Built-in rescaling functionality to ensure values are proportionate with the latest data.
How does it work? (simplified)
1 — Calculate the middle of the range.
2 — Define whether the current price is above the middle of the range or below.
3 — If above the middle of the range, calculate the difference of the current high and the middle line. If below, calculate the difference of the current low and the middle line.
4 — Smooth the value using a set moving average type.
5 — Rescale the value to proportionate it with the latest data.
