Dear Traders,

This script will get a smile on most of the pivot and price action traders.

My trading skills have drastically improved after learning the concepts of central pivot point , supply and demand and more importantly understanding of the simple candle stick patterns.

This is my experiment of decoding the above mentioned concepts to simple trading setups which can be used across any instruments and across any timeframes.

The most essential and must skills required in order to achieve profits in trading is to identify the right trend, exact entry and exits, risk management and importantly understanding the market structure along with the traders emotion.

Let’s just decipher each of the essential skills along the tools we will be using for analyzing each of the section

TREND ANALYSIS

Central pivot range ( CPR ) : is used to identify the market structure and the major trend of the instrument you are going to trade. This will help in identifying the mean reversions & trending trade setups in the market.

Developing Dynamic Pivots & Future Targets
This setup will help us in decoding the closing and opening market sentiment and will help us in planning our trade upfront. This home work in post & pre-market session will increase the odds of the trade in our favor to a great extent.

Trend Identification & Dynamic Support & Resistance
I have also included the Pivot based exponential moving average (PEMA) to visually identify the current trend and it also shows the current trend by dynamically changing the colors for bull & bear market in the PEMA zone.

VALUE AREA
We know that the market works on supply and demand and when the price arrives at these zones the market reacts very faithfully. Hence it’s very important for a trader to know in advance where these levels exist before entering the market.

This Indicator bridges this gap by showing in advance the future value areas where the price reaction can be expected and trades can be planned accordingly. Hence it can anticipate the market move with a strong logic behind us rather than leaving the trader in surprise.

This value area zone will be highlighted in different colors on the chart will be grab your attention and help in planning your trade accordingly.

Market Sentiment
Each market session is a story in itself which is been scripted by the movements of each candle sticks, hence if we understand the relationship between each candles as it is getting formed we can predicate the future candle stick formation to a great extent.

i have coded the indicator triggers which reads the relationship between each candles and shows signals of reversals and also give traders alerts when the price rejection occurs.
Various shapes of rejection signs are plotted for bullish and bearish reversals which help in prediction the strength of the price rejection which will help the trader in planning his trade.

The various shapes in the order of strength are diamond, square, arrows, and triangle respectively.

Entry & Exits
The volatility is the key in predicting the market movement. If we identify the trend correctly then all we have to do is set our expectations accordingly for the targets based on the volatility of the instrument.

The indicator basically captures the recent volatility for the specified look back period and plots across the possible price movements for the current session.

Based on your entry setups you can get a reference of the maximum targets we can expect with the help of the levels the indicator plots.

Please do feel free to use the indicator and give your valuable feed backs which will help me in optimizing it to a great extent.

I am in the process of optimizing the price triggers to a greater extent and also dynamically plot the possible demand and supply zones in coming future.

I would love to thank each of the traders in this TradingView community in helping me improve on my trading skills.

Happy Trading !
Release Notes: Updated the time frame to just Daily, Weekly & Monthly.

You can use Daily for Intraday & Weekly & Monthly for Swing/Positional trades
Release Notes: Fixed issues with Time Frame.

Intraday Trades

Any time frame above 3 Minutes to 2 Hours

Swing / Positional Trades

Any time frame above 4h to 1D, 1W
Release Notes: Updated the timeframe as Trade Type and fixed few issues with triggers.
Release Notes: Updated Triggers.
Release Notes:
  • Refined the Target zones
  • Introduced Sentiment Line (Red) & Life Line (Green)
Release Notes: Updated Developing Pivots Logic
Release Notes: Updated Developing Pivots
Release Notes: Updated Target Zones & Labels
Release Notes: Highlighted the Major Targets & Minor Targets
Release Notes: Highlighted Major & Minor Targets
Release Notes: Updated Triggers based on user feedback
Release Notes: Fixed issues.
Release Notes: Updated the settings to enable all options by default.

Protected script
This script is published closed-source and you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
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.

Want to use this script on a chart?