OPEN-SOURCE SCRIPT
shadowpipz macro's (Open-Source)
Macro Indicator
The Macro Indicator, originally coded by toodegrees and defined by me, is a powerful tool designed to track and visualize key market cycles and shifts within specific timeframes. It highlights areas of significant market activity, allowing traders to identify potential reversals, continuations, or liquidity zones.
How to Use:
Time-Specific Analysis:
The indicator highlights specific time intervals (e.g., 8:20–8:40, 9:20–9:40), marking key zones of price movement. These zones are defined based on the Macro concept, which identifies significant price actions within specific windows of time.
Trend Reversals and Continuation:
Use the highlighted Macro zones to detect potential trend reversals or momentum continuations based on price behavior around these intervals.
Confluence with Other Tools:
Combine the indicator with other tools such as support/resistance levels, candlestick patterns, or momentum oscillators for enhanced trade confirmation.
Multi-Timeframe Application:
Apply the indicator across various timeframes to identify overlapping zones and refine your trading decisions.
Best Practices:
Observe how price interacts with the highlighted zones—these areas can act as key support or resistance points.
Utilize the indicator to monitor liquidity sweeps or potential breakout regions during specific time intervals.
Credit:
The Macro concept was defined by [Your Name/Username].
The indicator was originally coded by toodegrees.
Disclaimer:
This indicator serves as a supplementary tool and is best used alongside a comprehensive trading strategy. Ensure proper risk management for all trades.
The Macro Indicator, originally coded by toodegrees and defined by me, is a powerful tool designed to track and visualize key market cycles and shifts within specific timeframes. It highlights areas of significant market activity, allowing traders to identify potential reversals, continuations, or liquidity zones.
How to Use:
Time-Specific Analysis:
The indicator highlights specific time intervals (e.g., 8:20–8:40, 9:20–9:40), marking key zones of price movement. These zones are defined based on the Macro concept, which identifies significant price actions within specific windows of time.
Trend Reversals and Continuation:
Use the highlighted Macro zones to detect potential trend reversals or momentum continuations based on price behavior around these intervals.
Confluence with Other Tools:
Combine the indicator with other tools such as support/resistance levels, candlestick patterns, or momentum oscillators for enhanced trade confirmation.
Multi-Timeframe Application:
Apply the indicator across various timeframes to identify overlapping zones and refine your trading decisions.
Best Practices:
Observe how price interacts with the highlighted zones—these areas can act as key support or resistance points.
Utilize the indicator to monitor liquidity sweeps or potential breakout regions during specific time intervals.
Credit:
The Macro concept was defined by [Your Name/Username].
The indicator was originally coded by toodegrees.
Disclaimer:
This indicator serves as a supplementary tool and is best used alongside a comprehensive trading strategy. Ensure proper risk management for all trades.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Want to use this script on a chart?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.