Engulfing Reversal Market PhaseStay at the right side of the market.
This indicator detects bullish and bearish phase in the market based on recent reversal.
It is designed to help filter your trades.
Open only long trades if indicator shows green and open only short trades when indicator shows red.
This indicator will detect bullish and bearish engulfing reversal pattern on the chart.
Bullish engulfing occurs when current candle closes below the bars that created the high.
Bearish engulfing occurs when current candle closes below the bars that created the high.
The reversal pattern occurs not only on a trend change, but can be also be present as a trend continuation pattern or a breakout pattern.
The indicator is able to detect 3 candle patterns and multi candle patterns if detects inside bars in the pattern.
Candlestick analysis
Gold Scalping Strategy with Precise EntriesThe Gold Scalping Strategy with Precise Entries is designed to take advantage of short-term price movements in the gold market (XAU/USD). This strategy uses a combination of technical indicators and chart patterns to identify precise buy and sell opportunities during times of consolidation and trend continuation.
Key Elements of the Strategy:
Exponential Moving Averages (EMAs):
50 EMA: Used as the shorter-term moving average to detect the recent price trend.
200 EMA: Used as the longer-term moving average to determine the overall market trend.
Trend Identification:
A bullish trend is identified when the 50 EMA is above the 200 EMA.
A bearish trend is identified when the 50 EMA is below the 200 EMA.
Average True Range (ATR):
ATR (14) is used to calculate the market's volatility and to set a dynamic stop loss based on recent price movements. Higher ATR values indicate higher volatility.
ATR helps define a suitable stop-loss distance from the entry point.
Relative Strength Index (RSI):
RSI (14) is used as a momentum oscillator to detect overbought or oversold conditions.
However, in this strategy, the RSI is primarily used as a consolidation filter to look for neutral zones (between 45 and 55), which may indicate a potential breakout or trend continuation after a consolidation phase.
Engulfing Patterns:
Bullish Engulfing: A bullish signal is generated when the current candle fully engulfs the previous bearish candle, indicating potential upward momentum.
Bearish Engulfing: A bearish signal is generated when the current candle fully engulfs the previous bullish candle, signaling potential downward momentum.
Precise Entry Conditions:
Long (Buy):
The 50 EMA is above the 200 EMA (bullish trend).
The RSI is between 45 and 55 (neutral/consolidation zone).
A bullish engulfing pattern occurs.
The price closes above the 50 EMA.
Short (Sell):
The 50 EMA is below the 200 EMA (bearish trend).
The RSI is between 45 and 55 (neutral/consolidation zone).
A bearish engulfing pattern occurs.
The price closes below the 50 EMA.
Take Profit and Stop Loss:
Take Profit: A fixed 20-pip target (where 1 pip = 0.10 movement in gold) is used for each trade.
Stop Loss: The stop-loss is dynamically set based on the ATR, ensuring that it adapts to current market volatility.
Visual Signals:
Buy and sell signals are visually plotted on the chart using green and red labels, indicating precise points of entry.
Advantages of This Strategy:
Trend Alignment: The strategy ensures that trades are taken in the direction of the overall trend, as indicated by the 50 and 200 EMAs.
Volatility Adaptation: The use of ATR allows the stop loss to adapt to the current market conditions, reducing the risk of premature exits in volatile markets.
Precise Entries: The combination of engulfing patterns and the neutral RSI zone provides a high-probability entry signal that captures momentum after consolidation.
Quick Scalping: With a fixed 20-pip profit target, the strategy is designed to capture small price movements quickly, which is ideal for scalping.
This strategy can be applied to lower timeframes (such as 1-minute, 5-minute, or 15-minute charts) for frequent trade opportunities in gold trading, making it suitable for day traders or scalpers. However, proper risk management should always be used due to the inherent volatility of gold.
RSI Fakeout Filter with SMA Confirmation [CHE] Introducing: RSI Fakeout Detection
Are you tired of being caught in fakeouts that can lead to frustrating losses? The RSI Fakeout Detection is here to enhance your trading strategy by filtering out false signals and providing you with more reliable entries. This innovative indicator is designed to help traders identify when market momentum, as indicated by the RSI, does not align with price movement – a key indicator of potential fakeouts!
What Does It Do?
The RSI Fakeout Detection focuses on one key goal: avoiding false signals. By monitoring when the RSI exceeds a customizable threshold (indicating strength) but the price remains below a moving average like the SMA, this indicator highlights situations where the market may seem strong, but the price action doesn't support that momentum. In other words, it saves you from those tricky fake breakouts.
Key Benefits:
1. Reduce Risk, Increase Confidence: Get an extra layer of protection against fakeouts by receiving signals only when both RSI and price confirm the market's true direction. Avoid entering false breakouts and trade with more confidence.
2. Dynamic Analysis of SMA Lengths: It doesn’t just rely on one SMA. The indicator automatically analyzes and sorts through different SMA lengths to find the most reliable one for your specific market condition, ensuring that you get the best possible signal.
3. Tailored for You: With customizable RSI thresholds, a choice of multiple moving average types (SMA, EMA, Bollinger Bands, and more), and vibrant color-coded visuals, this tool is built to fit your unique trading style and preferences.
4. Spot Fakeouts with Ease: Visual cues make it easy to see when the market might be tricking you. Labels, plotted lines, and a toggleable disclaimer keep everything transparent and easy to understand.
5. Friendly and Intuitive: Whether you’re new to trading or a seasoned pro, the RSI Fakeout Detection is designed to be simple and effective. The labels and plots are clear, the alerts are timely, and it seamlessly integrates into your chart without cluttering it.
Why Choose RSI Fakeout Detection?
- Accuracy and Precision: By combining RSI and SMA analysis, this indicator minimizes the risk of following false trends and entering trades too early.
- Save Time and Reduce Guesswork: No more spending hours trying to figure out which SMA length works best – the RSI Fakeout Detection does it for you!
- Peace of Mind: Avoiding fakeouts means fewer bad trades, which can lead to more consistent performance and less stress.
Transform the way you trade, and step into a more confident trading future with RSI Fakeout Detection . Whether you’re day trading or swing trading, this tool will give you an edge by helping you filter out the noise and make more informed decisions.
Best regards,
Chervolino
Disclaimer:
The content provided, including all code and materials, is strictly for educational and informational purposes only. It is not intended as, and should not be interpreted as, financial advice, a recommendation to buy or sell any financial instrument, or an offer of any financial product or service. All strategies, tools, and examples discussed are provided for illustrative purposes to demonstrate coding techniques and the functionality of Pine Script within a trading context.
Any results from strategies or tools provided are hypothetical, and past performance is not indicative of future results. Trading and investing involve high risk, including the potential loss of principal, and may not be suitable for all individuals. Before making any trading decisions, please consult with a qualified financial professional to understand the risks involved.
By using this script, you acknowledge and agree that any trading decisions are made solely at your discretion and risk.
Liquidity VisualizerThe "Liquidity Visualizer" indicator is designed to help traders visualize potential areas of liquidity on a price chart. In trading, liquidity often accumulates around key levels where market participants have placed their stop orders or pending orders. These levels are commonly found at significant highs and lows, where traders tend to set their stop-losses or take-profit orders. The indicator aims to highlight these areas by drawing unbroken lines that extend indefinitely until breached by the price action.
Specifically, this indicator identifies and marks pivot highs and pivot lows, which are price levels where a trend changes direction. When a pivot high or pivot low is formed, it is represented on the chart with a horizontal line that continues to extend until the price touches or surpasses that level. The line remains in place as long as the level remains unbroken, which means there is potential liquidity still resting at that level.
The concept behind this indicator is that liquidity is likely to be resting at unbroken pivot points. These levels are areas where stop-loss orders or pending buy/sell orders may have accumulated, making them attractive zones for large market participants, such as institutions, to target. By visualizing these unbroken levels, traders can gain insight into where liquidity might be concentrated and where potential price reversals or significant movements could occur as liquidity is taken out.
The indicator helps traders make more informed decisions by showing them key price levels that may attract significant market activity. For instance, if a trader sees multiple unbroken pivot high lines above the current price, they might infer that there is a cluster of liquidity in that area, which could lead to a price spike as those levels are breached. Similarly, unbroken pivot lows may indicate areas where downside liquidity is concentrated.
In summary, this indicator acts as a "liquidity visualizer," providing traders with a clear, visual representation of potential liquidity resting at significant pivot points. This information can be valuable for understanding where price might be drawn to, and where large movements might occur as liquidity is targeted and removed by market participants.
Accurate 10x Volume Spike with Corrected Next Candle AnalysisDescription :
The Volume Ten Candles indicator is a technical analysis tool that helps traders identify candles with volume exceeding the previous one by 10 times. This can indicate a potential trend reversal or continuation of the current price movement.
Signal :
The indicator generates a signal when a candle with volume exceeding the previous one by 10 times appears. The signal is displayed on the chart as an arrow or other symbol.
Statistics :
The indicator also displays statistics in the form of a table that shows the number of candles with volume exceeding the previous one by 10 times for a certain period of time. This helps traders assess the strength of the trend and make a decision about entering a trade.
Example of Use :
The Volume Ten Candles indicator can be useful for traders who want to find candles with high volume and use them to enter a trade. For example, if a candle with volume exceeding the previous one by 10 times appears, it may indicate that the market is ready for a price movement. In this case, the trader can open a trade in the direction of this movement.
It is important to note that the Volume Ten Candles indicator is not a guarantee of profit and may produce false signals. Therefore, before using the indicator, it is necessary to conduct testing on historical data and develop a trading strategy.
Statistics Table :
The table displays the number of candles with volume exceeding the previous one by 10 times for each day.
Long Wick Indicator
This indicator identifies and highlights candles with long wicks, which can be useful for various trading strategies.
Key Features:
1. Timeframe Limitation:
- Optional feature to limit the indicator to specific timeframes
- User can set a maximum timeframe (default: 5 minutes)
2. Customizable Wick-to-Body Ratio:
- User-defined minimum ratio for wick length to body length (default: 0.8)
3. Customizable Visual Indicators:
- Triangles appear above or below candles with long wicks (user can change triangles to another symbol)
- Yellow triangle pointing up: long bottom wick
- Yellow triangle pointing down: long top wick
Functionality:
- Calculates body size and wick sizes for each candle
- Compares wick sizes to body size using the user-defined ratio
- Plots indicators only if the current timeframe is within the specified limit (if enabled)
Usage:
Add this indicator to your TradingView chart to identify potential setups.
Customization:
Users can adjust the wick-to-body ratio and timeframe limitations in the indicator settings to suit their trading style and strategy.
CRT candles Multi-Timeframe Intrabar(open Source ) # CRT candles Multi-Timeframe Intrabar Indicator( open source )
This advanced indicator visualizes Candle Range Theory (CRT) across multiple timeframes, providing traders with a comprehensive view of market structure and potential high-probability setups.
## Key Features:
- Supports 7 timeframes: 30 minutes, 1 hour, 2 hours, 4 hours, daily, weekly, and monthly
- Customizable color schemes for each timeframe
- Options to display mid-level (50%) lines for each range
- Bullish and bearish touch detection with customizable label display
- End-of-line labels for easy identification of CRT levels
- Flexible alert system for touch detections on each timeframe
- Adjustable minimum and maximum bar count for range validity
- Options for wick touch and body touch detection
## How It Works:
The indicator plots CRT ranges for each selected timeframe, identifying potential accumulation, manipulation, and distribution phases. It detects when price touches these levels, providing visual cues and optional alerts for potential trade setups.
snapshot
## Customization:
Users can fine-tune the indicator's appearance and functionality through various input options, including:
- Toggling timeframes on/off
snapshot
- Adjusting colors for range lines and mid-levels
- Controlling label display and count
- Setting alert preferences
- Adjusting line widths and label offsets
## Usage:
This indicator is designed for traders familiar with Candle Range Theory and multi-timeframe analysis. It can be used to identify potential entry and exit points, confirm trends, and spot potential reversals across different timeframes.
## Note:
This indicator is for educational and informational purposes only. Always combine with other forms of analysis and proper risk management when making trading decisions.
## Credits:
Inspired by Romeo's Candle Range Theory and developed to provide a comprehensive multi-timeframe analysis tool.
See LTF Candles and VolumeThis indicator will show you the candles, wicks, and their volumes from a lower timeframe chart. You can also select a different symbol in inputs.
This indicator uses requests to receive data from different timeframe or symbols, and it simply draws boxes and lines from the requested data.
Advanced Marubozu DetectorAdvanced Marubozu Detector
This indicator identifies bullish and bearish Marubozu candles based on specific conditions:
Bullish Marubozu: Detected when the candle's body is completely green without upper or lower shadows, and it closes higher than the high of the previous candle.
Bearish Marubozu: Detected when the candle's body is completely red without upper or lower shadows, and it closes lower than the low of the previous candle.
The indicator plots a green arrow below the bullish Marubozu and a red arrow above the bearish Marubozu directly on the chart, making it easy to spot these patterns in any time frame.
Designed by : Morteza Bakhshi
ZERO LAG TRADE SIGNALS by BootcampZeroThe ZERO LAG TRADE SIGNALS by BootcampZero indicator is a versatile tool designed to help traders identify optimal entry and exit points for both short-term scalping and long-term trading across multiple time frames. It combines several well-known technical analysis methods, including moving averages, trend analysis, directional indicators, and adaptive trend calculations, to deliver reliable buy and sell signals.
Short-Term Scalping (Under 5-Minute Time Frames)
For short-term traders who prefer quick trades on lower time frames, such as under 5 minutes, this indicator uses a combination of the EMA (Exponential Moving Average) and SMA (Simple Moving Average) to spot fast trend reversals. The indicator is particularly useful for scalpers because it focuses on detecting short-term price momentum by comparing the faster-moving averages with slower ones, triggering signals based on their crossover.
Buy Signals are generated when a fast-moving EMA crosses above a slower-moving SMA, indicating upward momentum.
Sell Signals are triggered when the fast-moving EMA crosses below the slower-moving SMA, signaling potential downward price movement.
In addition, the Adaptive Trend Finder feature dynamically adjusts to recent price deviations and volatility, making it easier for scalpers to spot the prevailing short-term trend with high confidence. The indicator also uses ADX (Average Directional Index) for momentum confirmation, ensuring that signals are only generated during strong price trends, reducing false positives in sideways markets.
Long-Term Trading (Above 1-Day Charts)
When applied to higher time frames such as daily charts or above, this indicator excels in generating reliable long-term buy and sell signals, perfect for swing traders and long-term investors. The Kaufman Adaptive Moving Average (KAMA) and the Ichimoku Cloud are used to assess long-term trends by filtering out market noise and focusing on sustainable price direction.
KAMA helps to adapt the moving average based on market volatility, providing smoother signals that minimize whipsawing in longer-term trades.
Ichimoku Cloud provides additional trend confirmation by identifying whether the market is bullish or bearish based on the relationship between key lines like the Tenkan-Sen (Conversion Line) and Kijun-Sen (Base Line), and how the current price interacts with the Ichimoku Cloud itself.
The indicator also integrates PPO (Percentage Price Oscillator) to capture divergences between price and momentum, further supporting traders in holding positions for extended periods when the signal strength is robust.
Key Technical Values and Factors for Signals
EMA and SMA Crossover: Fast EMA vs. Slow SMA to detect short-term trend reversals.
ADX: Helps gauge the strength of the trend; signals are only generated in trending markets.
KAMA: Filters noise in long-term trends, providing smooth signals based on market volatility.
Ichimoku Cloud: Offers insight into long-term trends and momentum by analyzing price relative to the cloud.
PPO: Detects divergences between price and momentum for trend continuation or reversal signals.
How It Works
Buy signals are generated when bullish conditions are met, and the indicator confirms momentum with ADX, crossover of the EMAs, or a bullish breakout from the Ichimoku Cloud.
Sell signals are triggered when bearish conditions prevail, confirmed by the same factors in reverse, such as a bearish EMA crossover or weakness in ADX.
By combining these powerful tools, ZERO LAG TRADE SIGNALS by BootcampZero offers traders a comprehensive system for both quick scalping trades and more conservative long-term positioning, providing reliable and adaptive signals across different market conditions.
Candle Speed and AccelerationCandle Speed and Acceleration Indicator
This indicator calculates the speed and acceleration of candlesticks in points per minute (P/M), providing traders with insights into the momentum and volatility of price movements during the trading session.
Features:
Speed Calculation: Measures the change in price per minute, helping you understand how quickly the market is moving.
Acceleration Measurement: Tracks the change in speed between consecutive candles, offering an additional layer of momentum analysis.
Real-Time Display: Shows the current, previous, and second previous candles' speed and acceleration in a table on the chart.
Crosshair Integration: Displays speed and acceleration at the crosshair location, offering instant feedback as you hover over the chart.
Alerts: Notifies you when candle speed exceeds a customizable threshold, helping you catch significant market moves as they happen.
Permanent Markers: Marks candles on the chart when the speed threshold is exceeded, visually highlighting high-speed candles.
This tool is essential for traders who want to analyze the momentum and acceleration of market movements, providing clear visual cues and alerts for potential trading opportunities.
ICT Judas Swing | Flux Charts💎 GENERAL OVERVIEW
Introducing our new ICT Judas Swing Indicator! This indicator is built around the ICT's "Judas Swing" strategy. The strategy looks for a liquidity grab around NY 9:30 session and a Fair Value Gap for entry confirmation. For more information about the process, check the "HOW DOES IT WORK" section.
Features of the new ICT Judas Swing :
Implementation of ICT's Judas Swing Strategy
2 Different TP / SL Methods
Customizable Execution Settings
Customizable Backtesting Dashboard
Alerts for Buy, Sell, TP & SL Signals
📌 HOW DOES IT WORK ?
The strategy begins by identifying the New York session from 9:30 to 9:45 and marking recent liquidity zones. These liquidity zones are determined by locating high and low pivot points: buyside liquidity zones are identified using high pivots that haven't been invalidated, while sellside liquidity zones are found using low pivots. A break of either buyside or sellside liquidity must occur during the 9:30-9:45 session, which is interpreted as a liquidity grab by smart money. The strategy assumes that after this liquidity grab, the price will reverse and move in the opposite direction. For entry confirmation, a fair value gap (FVG) in the opposite direction of the liquidity grab is required. A buyside liquidity grab calls for a bearish FVG, while a sellside grab requires a bullish FVG. Based on the type of FVG—bullish for buys and bearish for sells—the indicator will then generate a Buy or Sell signal.
After the Buy or Sell signal, the indicator immediately draws the take-profit (TP) and stop-loss (SL) targets. The indicator has three different TP & SL modes, explained in the "Settings" section of this write-up.
You can set up alerts for entry and TP & SL signals, and also check the current performance of the indicator and adjust the settings accordingly to the current ticker using the backtesting dashboard.
🚩 UNIQUENESS
This indicator is an all-in-one suit for the ICT's Judas Swing concept. It's capable of plotting the strategy, giving signals, a backtesting dashboard and alerts feature. Different and customizable algorithm modes will help the trader fine-tune the indicator for the asset they are currently trading. Three different TP / SL modes are available to suit your needs. The backtesting dashboard allows you to see how your settings perform in the current ticker. You can also set up alerts to get informed when the strategy is executable for different tickers.
⚙️ SETTINGS
1. General Configuration
Swing Length -> The swing length for pivot detection. Higher settings will result in
FVG Detection Sensitivity -> You may select between Low, Normal, High or Extreme FVG detection sensitivity. This will essentially determine the size of the spotted FVGs, with lower sensitivies resulting in spotting bigger FVGs, and higher sensitivies resulting in spotting all sizes of FVGs.
2. TP / SL
TP / SL Method ->
a) Dynamic: The TP / SL zones will be auto-determined by the algorithm based on the Average True Range (ATR) of the current ticker.
b) Fixed : You can adjust the exact TP / SL ratios from the settings below.
Dynamic Risk -> The risk you're willing to take if "Dynamic" TP / SL Method is selected. Higher risk usually means a better winrate at the cost of losing more if the strategy fails. This setting is has a crucial effect on the performance of the indicator, as different tickers may have different volatility so the indicator may have increased performance when this setting is correctly adjusted.
Volumetric Volatility Breaker Blocks [UAlgo]The "Volumetric Volatility Breaker Blocks " indicator is designed for traders who want a comprehensive understanding of market volatility combined with volume analysis. This indicator provides a clear visualization of significant volatility areas (or blocks), characterized by price movements that exceed a specific volatility threshold, as calculated using the ATR (Average True Range). The concept is enhanced by integrating volume-based insights, offering a view of market activity that helps users to recognize when significant price changes are being supported by an appropriate level of market participation.
The indicator calculates breaker blocks for both bullish and bearish market conditions, providing distinct visual elements that identify periods of high volatility and substantial volume divergence. The focus on both volume and volatility makes this tool versatile, allowing traders to assess the strength of price movements as well as areas where price might break above or below previously established levels.
It supports adjustable parameters, such as volatility length, smoothness factor, and volume display, allowing traders to fine-tune the indicator according to their trading strategy and market environment. The highlighted breaker blocks assist in identifying zones of potential price reversal or continuation, which can be critical for making informed trading decisions.
🔶 Key Features
Volatility-Based Block Identification: The indicator uses the Average True Range (ATR) to determine the volatility of the market. When the ATR exceeds a specified threshold (smooth ATR multiplied by a user-defined multiplier), it highlights these areas as volatility blocks. The idea is to mark periods where price activity is significantly divergent from normal conditions, which often signals market opportunities.
Volume Integrated Analysis: In addition to tracking volatility, the indicator incorporates volume data, allowing traders to see the amount of activity that occurs during these high-volatility periods. This helps in identifying whether a price movement is likely sustainable or whether it lacks market support.
User Adjustable Parameters: The indicator offers customization options for the volatility length (using ATR), smooth length, and multiplier for sensitivity adjustment. These settings enable users to modify the indicator’s responsiveness to market conditions.
The option to display the last few volatility blocks allows traders to manage clutter on their charts and focus only on the most recent significant data.
Mitigation Method: Users can select between different mitigation methods ("Close" or "Wick") to determine how blocks are broken. This adds an extra layer of adaptability, allowing traders to modify the indicator's response based on different price action strategies.
Dynamic Visual Representation: The indicator dynamically draws boxes for volatility blocks and shades them according to market direction, with split areas showing the bullish and bearish strength contributions. It also provides percentage volume for each block, helping traders understand the relative market participation during these moves.
🔶 Interpreting the Indicator
Identifying High Volatility Areas: When a new volatility block appears, it signifies that the market is experiencing higher-than-usual volatility, driven by increased ATR values. Traders should pay attention to these blocks, as they often indicate that a significant price move is occurring. Bullish blocks suggest upward pressure, whereas bearish blocks indicate downward pressure.
Volume Insights: The volume associated with each volatility block provides an insight into how much market participation accompanies these moves. Higher volume within a block implies that the market is actively supporting the price change, which may be a sign of continuation. Low volume suggests that the movement may lack the strength to persist.
Bullish vs. Bearish Strength Analysis: Each block is split into bullish and bearish strength, giving a clearer picture of what’s happening within the volatility period. If the bullish portion dominates, it indicates strong upward sentiment during that period. Conversely, if the bearish side is more prominent, there is more selling pressure. This breakdown helps in understanding intra-block market dynamics.
Volume Percentage Display: The indicator also displays the volume percentage in each block, which provides context for the strength of the move relative to recent market activity. Higher percentages mean more market engagement, which could confirm the legitimacy of a trend or a significant breakout.
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
VATICAN BANK CARTELVATICAN BANK CARTEL - Precision Signal Detection for Buyers.
The VATICAN BANK CARTEL indicator is a highly sophisticated tool designed specifically for buyers, helping them identify key market trends and generate actionable buy signals. Utilizing advanced algorithms, this indicator employs a multi-variable detection mechanism that dynamically adapts to price movements, offering real-time insights to assist in executing profitable buy trades. This indicator is optimized solely for identifying buying opportunities, ensuring that traders are equipped to make well-timed entries and exits, without signals for shorting or selling.
The recommended settings for VATICAN BANK CARTEL indicator is as follows:-
Depth Engine = 20,30,40,50,100.
Deviation Engine = 3,5,7,15,20.
Backstep Engine = 15,17,20,25.
NOTE:- But you can also use this indicator as per your setting, whichever setting gives you best results use that setting.
Key Features:
1.Adaptive Depth, Deviation, and Backstep Inputs:
The core of this indicator is its customizable Depth Engine, Deviation Engine, and Backstep Engine parameters. These inputs allow traders to adjust the sensitivity of the trend detection algorithm based on specific market conditions:
Depth: Defines how deep the indicator scans historical price data for potential trend reversals.
Deviation: Determines the minimum required price fluctuation to confirm a market movement.
Backstep: Sets the retracement level to filter false signals and maintain the accuracy of trend detection.
2. Visual Signal Representation:
The VATICAN BANK CARTEL plots highly visible labels on the chart to mark trend reversals. These labels are customizable in terms of size and transparency, ensuring clarity in various chart environments. Traders can quickly spot buying opportunities with green labels and potential square-off points with red labels, focusing exclusively on buy-side signals.
3.Real-Time Alerts:
The indicator is equipped with real-time alert conditions to notify traders of significant buy or square-off buy signals. These alerts, which are triggered based on the indicator’s internal signal logic, ensure that traders never miss a critical market movement on the buy side.
4.Custom Label Size and Transparency:
To enhance visual flexibility, the indicator allows the user to adjust label size (from small to large) and transparency levels. This feature provides a clean, adaptable view suited for different charting styles and timeframes.
How It Works:
The VATICAN BANK CARTEL analyzes the price action using a sophisticated algorithm that considers historical low and high points, dynamically detecting directional changes. When a change in market direction is detected, the indicator plots a label at the key reversal points, helping traders confirm potential entry points:
- Buy Signal (Green): Indicates potential buying opportunities based on a trend reversal.
- Square-Off Buy Signal (Red): Marks the exit point for open buy positions, allowing traders to take profits or protect capital from potential market reversals.
Note: This indicator is exclusively designed to provide signals for buyers. It does not generate sell or short signals, making it ideal for traders focused solely on identifying optimal buying opportunities in the market.
Customizable Parameters:
- Depth Engine: Fine-tunes the historical data analysis for signal generation.
- Deviation Engine: Adjusts the minimum price change required for detecting trends.
- Backstep Engine: Controls the indicator's sensitivity to retracements, minimizing false signals.
- Labels Transparency: Adjusts the opacity of the labels, ensuring they integrate seamlessly into any chart layout.
- Buy and Sell Colors: Customizable color options for buy and square-off buy labels to match your preferred color scheme.
- Label Size: Select between five different label sizes for optimal chart visibility.
Ideal For:
This indicator is ideal for both beginner and experienced traders looking to enhance their buying strategy with a highly reliable, visual, and alert-driven tool. The VATICAN BANK CARTEL adapts to various timeframes, making it suitable for day traders, swing traders, and long-term investors alike—focused exclusively on buying opportunities.
Benefits and Applications:
1.Intraday Trading: The VATICAN BANK CARTEL indicator is particularly well-suited for intraday trading, as it provides accurate and timely "buy" and "square-off buy" signals based on the current market dynamics.
2.Trend-following Strategies: Traders who employ trend-following strategies can leverage the indicator's ability to identify the overall market direction, allowing them to align their trades with the dominant trend.
3.Swing Trading: The dynamic price tracking and signal generation capabilities of the indicator can be beneficial for swing traders, who aim to capture medium-term price movements.
Security Measures:
1. The code includes a security notice at the beginning, indicating that it is subject to the Mozilla Public License 2.0, which is a reputable open-source license.
2. The code does not appear to contain any obvious security vulnerabilities or malicious content that could compromise user data or accounts.
NOTE:- This indicator is provided under the Mozilla Public License 2.0 and is subject to its terms and conditions.
Disclaimer: The usage of VATICAN BANK CARTEL indicator might or might not contribute to your trading capital(money) profits and losses and the author is not responsible for the same.
IMPORTANT NOTICE:
While the indicator aims to provide reliable "buy" and "square-off buy" signals, it is crucial to understand that the market can be influenced by unpredictable events, such as natural disasters, political unrest, changes in monetary policies, or economic crises. These unforeseen situations may occasionally lead to false signals generated by the VATICAN BANK CARTEL indicator.
Users should exercise caution and diligence when relying on the indicator's signals, as the market's behavior can be unpredictable, and external factors may impact the accuracy of the signals. It is recommended to thoroughly backtest the indicator's performance in various market conditions and to use it as one of the many tools in a comprehensive trading strategy, rather than solely relying on its output.
Ultimately, the success of the VATICAN BANK CARTEL indicator will depend on the user's ability to adapt it to their specific trading style, market conditions, and risk management approach. Continuous monitoring, analysis, and adjustment of the indicator's settings may be necessary to maintain its effectiveness in the ever-evolving financial markets.
DEVELOPER:- yashgode9
PineScript:- version:- 5
This indicator aims to enhance trading decision-making by combining DEPTH, DEVIATION, BACKSTEP with custom signal generation, offering a comprehensive tool for traders seeking clear "buy" and "square-off buy" signals on the TradingView platform.
E9 Shark-32 Pattern Strategy The E9 Shark-32 Pattern is a powerful trading tool designed to capitalize on the Shark-32 pattern—a specific Candlestick pattern.
The Shark-32 Pattern: What Is It?
The Shark-32 pattern is a technical formation that occurs when the following conditions are met:
Higher Highs and Lower Lows: The low of two bars ago is lower than the previous bar, and the previous bar's low is lower than the current bar. At the same time, the high of two bars ago is higher than the previous bar, and the previous bar’s high is higher than the current bar.
This unique setup forms the "Shark-32" pattern, which signals potential volume squeezes and trend changes in the market.
How Does the Strategy Work?
The E9 Shark-32 Pattern Strategy builds upon this pattern by defining clear entry and exit rules based on the pattern's confirmation. Here's a breakdown of how the strategy operates:
1. Identifying the Shark-32 Pattern
When the Shark-32 pattern is confirmed, the strategy "locks" the high and low prices from the initial bar of the pattern. These locked prices serve as key levels for future trade entries and exits.
2. Entry Conditions
The strategy waits for the price to cross the pattern's locked high or low, signaling potential market direction.
Long Entry: A long trade is triggered when the closing price crosses above the locked pattern high (green line).
Short Entry: A short trade is triggered when the closing price crosses below the locked pattern low (red line).
The strategy ensures that only one trade is taken for each Shark-32 pattern, preventing overtrading and allowing traders to focus on high-probability setups.
3. Stop Loss and Take Profit Levels
The strategy has built-in risk management through stop-loss and take-profit levels, which are visually represented by the lines on the chart:
Stop Loss:
Stop loss can be adjusted in settings.
Take Profit:
For long trades: The take-profit target is set at the upper white dotted line, which is projected above the pattern high.
For short trades: The take-profit target is set at the lower white dotted line, which is projected below the pattern low.
These clearly defined levels help traders to manage risk effectively while maximizing potential returns.
4. Visual Cues
To make trading decisions even easier, the strategy provides helpful visual cues:
Green Line (Pattern High): This line represents the high of the Shark-32 pattern and serves as a resistance level and short entry signal.
Red Line (Pattern Low): This line represents the low of the Shark-32 pattern and serves as a support level and long entry signal.
White Dotted Lines: These lines represent potential profit targets, projected both above and below the pattern. They help traders define where the market might go next.
Additionally, the strategy highlights the pattern formation with color-coded bars and background shading to draw attention to the Shark-32 pattern when it is confirmed. This adds a layer of visual confirmation, making it easier to spot opportunities in real-time.
5. No Repeated Trades
An important aspect of the strategy is that once a trade is taken (either long or short), no additional trades are executed until a new Shark-32 pattern is identified. This ensures that only valid and confirmed setups are acted upon.
Breakout and Breakdown Indicator with RetestsThis indicator is designed to help traders identify high-probability breakout and breakdown points based on the first 5 minutes of market activity (9:30 am to 9:35 am). It works effectively on both the 1-minute and 5-minute timeframes, making it ideal for day traders and scalpers.
This indicator is a better indicator of my previous 5-Minute Opening Range Breakout indicator.
Key Features:
Dynamic Support and Resistance Lines: Automatically plots the highest and lowest price levels from 9:30 am to 9:35 am, providing essential support and resistance zones.
Breakout/Breakdown Detection: Identifies and marks successful breakout and breakdown points only after a confirmed retest, ensuring more accurate signals.
Visual Markers: Uses customizable green diamonds for successful breakouts and red diamonds for successful breakdowns, allowing easy identification on the chart.
Customization Options:
Change Colors: You can personalize the color of the breakout and breakdown markers, the label text, and the lines drawn from the 9:30 am to 9:35 am window.
Adapt to Your Chart: Adjust the indicator to match your preferred charting theme, ensuring it blends seamlessly with your trading setup.
How It Works:
Plots Key Levels: Identifies the highest and lowest prices during the first 5 minutes of trading (9:30 am to 9:35 am) and plots them on the chart.
Monitors Retests: Waits for a retest of these levels before confirming a breakout or breakdown.
Labels Breakouts/Breakdowns: After a retest, successful breakouts are marked with green diamonds and "Breakout" text, while breakdowns are marked with red diamonds and "Breakdown" text.
Why Use This Indicator?
Avoid False Signals: The retest requirement helps filter out false breakouts and breakdowns, offering more reliable trading signals.
Works Across Timeframes: Suitable for both 1-minute and 5-minute charts, allowing flexibility for different trading styles.
Some what Customizable: Adjust colors to fit your charting preferences and enhance visual clarity.
Recommended Use: Combine this indicator with other technical analysis tools, such as volume, candlestick patterns, or moving averages, for more informed trading decisions.
Expanding Volume Range with Anchored VWAPExpanding Volume Range with Anchored VWAP Indicator Summary
This Pine Script indicator is designed for intraday trading, particularly for timeframes of 60 minutes or less. It combines several technical analysis concepts to provide traders with a comprehensive view of price action, volume, and potential support/resistance levels.
## Key Features
1. **Anchored VWAP (Volume Weighted Average Price)**
- Calculates and displays an Anchored VWAP line
- Resets at the start of each new day or when a new highest volume bar is detected
2. **Expanding Volume Range (EVR)**
- Identifies and highlights high volume bars
- Creates a box around the price range of the last three high volume bars
- Generates additional support/resistance lines based on this range
3. **Custom Multiplier Calculations**
- Allows users to customize the calculation of support/resistance levels
- Includes options for separate top and bottom multipliers
- Provides an exponential adjustment for fine-tuning
4. **Volume-Based Candle Coloring**
- Colors candles differently based on their volume relative to recent history
- Highlights the first candle of each session in a distinct color
5. **VWAP-Based Line and Fill Colors**
- Changes colors of lines and fills based on price position relative to VWAP
6. **Alert Generation**
- Creates alerts when price breaks above or below the EVR high and low levels
## User Inputs
The indicator offers several customizable inputs grouped into categories:
1. **Volume Colors**
- Customize colors for various elements (lines, fills, candles) based on volume and VWAP relationship
2. **Target Levels**
- Set multipliers for calculating target levels
3. **Multiplier Calculations**
- Enable/disable custom multiplier calculations
- Set base multipliers and exponents for top and bottom levels
## Functionality Breakdown
1. The indicator tracks the highest volume bars for the current and previous day.
2. It creates an Expanding Volume Range (EVR) based on the last three high volume bars.
3. Using the EVR, it calculates and draws support and resistance levels.
4. The levels can be calculated using either simple multipliers or a more complex exponential formula, depending on user preference.
5. Candles are colored based on their volume and whether they're the first candle of a session.
6. An Anchored VWAP is calculated and displayed, resetting at the start of each day or on new highest volume bars.
7. Alerts are generated when price moves beyond the EVR high or low levels.
## Use Cases
This indicator can be particularly useful for:
- Identifying potential support and resistance levels based on high volume price action
- Spotting changes in volume patterns throughout the trading session
- Recognizing price action relative to the Anchored VWAP
- Setting up potential entry and exit points based on the expanding volume range
Traders should use this indicator in conjunction with other forms of analysis and risk management strategies for best results.
Bullish On Neck Candlestick patternExplanation:
1. Bullish Large Candle: The first candle is defined as bullish, where the closing price is much higher than the opening price. It also needs to have a large body (at least 60% of the total candle height).
2. Small Bearish Candle: The second candle is bearish and closes near the high of the previous bullish candle, with a relatively small body.
3. Bullish On Neck Detection: The script looks for this pattern where the bullish large candle is followed by a smaller bearish candle that closes near the first candle's high, indicating potential for a bullish breakout.
4. Plot: When the pattern is detected, the script places a green triangle above the bar to signal the bullish on neck pattern.
Custom 4-Hour Candle Colors with Opening Price LinesDescription:
This indicator enhances the visual clarity of 4-hour candles by allowing users to assign custom colors to each 4-hour time block on their chart. It also provides the option to plot horizontal lines at the opening price of each 4-hour candle, with the lines extending for a customizable duration (up to 36 hours), making it easy to track the opening price levels over time.
Features:
Custom 4-Hour Candle Colors: Define unique colors for each 4-hour candle block on the chart. You can configure the colors for six different 4-hour periods, making it easier to visually differentiate between different parts of the trading day.
Opening Price Lines: The indicator plots horizontal lines at the opening price of each 4-hour candle, with the option to extend the lines for up to 36 hours into the future. The lines can also have different colors, which you can configure separately for each time block.
Flexible Time Configuration: Set custom open times for each 4-hour candle block, allowing you to adjust the indicator to match specific market sessions or time zones.
Fully Customizable: Choose both the candle colors and the opening price line colors independently for each 4-hour period. This allows for a highly personalized chart setup.
Use Cases:
Session Tracking: Easily track different trading sessions by assigning specific colors to different time periods.
Key Price Levels: Keep an eye on important opening price levels throughout the day by extending opening price lines into the future.
Visual Organization: For traders who prefer color-coded charts for improved readability, this indicator helps to organize trading days visually by color-blocking each time segment.
Important Notes:
Due to TradingView’s limitations, the opening price lines can only extend up to 500 bars into the future. The indicator automatically limits the duration of the lines to this maximum.
The script is designed to be flexible and user-friendly, allowing for easy adjustments to suit different trading styles and market conditions.
M & W Checklistindicator to Validate & Grade M & W Patterns.
Indicator Inputs
Table Color Palette
• Position Valid : Positions the Valid Trade table on the chart.
• Position Grade : Positions the Grade table on the chart, hover over the Column 1 Row 1 for a description of the bands.
• Size: Text size for all tables.
• Text Color : Sets text color.
• Border Color : Sets the table border color for all tables.
• Background Color : Sets table backgroud color for all tables.
Valid Trade Table
Checkboxes to indicate if the trade is valid. Fail is displayed if unchecked, Pass if checked.
Grade Table
• S/R Level 1: distance between neckline and 1st resistance area in % of the total distance between neckline and take profit. This is not for road blocks but pivot points etc before the initial run up/down in price. I have this set to 30% , this means that if there is a pivot point between the neckline and 30% of the TP level I weight it negatively.
• S/R Level 2: distance between neckline and 1st resistance area in % of the total distance between neckline and take profit. This is not for road blocks but pivot points etc before the initial run up/down in price. I have this set to 50% , this means that if there is a pivot point between the neckline and 50% of the TP level 2 weight it negatively but less so than level 1.
• S/R Level 3: distance between neckline and 1st resistance area in % of the total distance between neckline and take profit. This is not for road blocks but pivot points etc before the initial run up/down in price. I have this set to 70% , this means that if there is a pivot point between the neckline and 70% of the TP level 3 weight it negatively but less so than level 1 & level 2.
• Checkboxes are self explanatory, they are binary options, all are weighted negatively if checked and are weighted positively if unchecked. Divergence values for weighting are neutral if unckecked & weighted positively if checked.
• The select options are neutral weighting if set to neutral , if set to For its weighted positive and set to Against weighted negatively.
Technical Specification of the Scoring and Band System
Overview
The scoring system is designed to evaluate a set of technical trade conditions, assigning weights to various criteria that influence the quality of the trade. The system calculates a total score based on both positive and negative conditions. Based on the final score, the system assigns a grade or band (A, B, or C) for positive scores, and a "Negative" label for negative scores.
Scoring System
The system calculates the score by evaluating a set of 12 conditions (gradeCondition1 to gradeCondition12). These conditions are manually input by the user via checkboxes or dropdowns in a technical indicator (written in Pine Script for TradingView). The score weights vary according to the relative importance of each condition.
Condition Breakdown and Weighting:
1. Divergences (GradeCondition1 & GradeCondition2):
◦ 1H Divergence: +5 points if condition is true.
◦ 4H Divergence: +10 points if condition is true (stronger weight than 1H).
2. Support/Resistance at Neckline (GradeCondition3):
◦ Negative if present: -15 points if true (carries significant negative weight).
3. RB near Entry (GradeCondition4):
◦ Very Negative: -20 points if true (this is a critical negative condition).
4. RB can Manage (GradeCondition5):
◦ Slightly Negative: -5 points if true.
5. Institutional Value Zones (GradeCondition6 to GradeCondition8):
◦ For the trade: +5 points.
◦ Against the trade: -5 points.
◦ Neutral: 0 points.
6. S/R between Neckline & Targets (GradeCondition9 to GradeCondition11):
◦ Level 1: -10 points if true, +7 points if false.
◦ Level 2: -7 points if true, +7 points if false.
◦ Level 3: -5 points if true, +7 points if false.
◦ Use fib tool or Gann Box to measure any S/R levels setup according to your preferences.
7. News Timing (GradeCondition12):
◦ News within 3 hours: -20 points if true (strong negative factor).
◦ No upcoming news: +10 points if false.
Scoring Calculation Formula:
totalScore = score1 + score2 + score3 + score4 + score5 + score6 + score7 + score8 + score9 + score10 + score11 + score12
Where:
• score1 to score12 represent the points derived from the conditions described above.
Coloring and Visual Feedback:
• Positive Scores: Displayed in green.
• Negative Scores: Displayed in red.
Band System
The Band System classifies the total score into different grades, depending on the final value of totalScore. This classification provides an intuitive ranking for trades, helping users quickly assess trade quality.
Band Classification:
• Band A: If the totalScore is 41 or more.
◦ Represents a highly favorable trade setup.
• Band B: If the totalScore is between 21 and 40.
◦ Represents a favorable trade setup with good potential.
• Band C: If the totalScore is between 1 and 20.
◦ Represents a trade setup that is acceptable but may have risks.
• Negative: If the totalScore is 0 or less.
◦ Represents a poor trade setup with significant risks or unfavorable conditions.
Band Calculation Logic (in Pine Script):
var string grade = ""
if (totalScore >= 41)
grade := "Band A"
else if (totalScore >= 21)
grade := "Band B"
else if (totalScore >= 1)
grade := "Band C"
else
grade := "Negative"
Technical Key Points:
• Highly Negative Conditions:
◦ The system penalizes certain conditions more heavily, especially those that suggest significant risks (e.g., News in less than 3 hours, RB near Entry).
• Positive Trade Conditions:
◦ Divergences, Institutional Value Zones in favor of the trade, and lack of significant nearby resistance all contribute positively to the score.
• Flexible System:
◦ The system can be adapted or fine-tuned by adjusting the weights of individual conditions according to trading preferences.
Use Case Example:
• If a trade has 1H and 4H Divergence, RB near Entry (negative), and no upcoming news:
◦ 1H Divergence: +5 points.
◦ 4H Divergence: +10 points.
◦ RB near Entry: -20 points.
◦ No news: +10 points.
◦ Total Score: 5 + 10 - 20 + 10 = 5 → Band C.
This modular and flexible scoring system allows traders to systematically evaluate trades and quickly gauge the trade's potential based on technical indicators
Summary:
Maximum Score: 61
Minimum Score: -97
These are the bounds of the score range based on the current logic of the script.
Fibonacci Levels with StatsPrimary Usage:
Drawing Fibonacci Retracements
Based on the past highs and lows, Fibonacci retracement levels (23.6%, 38.2%, 50%, 61.8%, 78.6%) are calculated and displayed on the chart. The Fibonacci levels are different for positive and negative lines, respectively.
Statistical Counting Function
Records the number of times each Fibonacci level is exceeded and tracks how often price reaches that level. This data can be useful for future price forecasting.
Cueing Symbols by Pattern Matching
Symbols are added to the queue when each Fibonacci level is exceeded. Depending on whether the price is positive or negative, different symbols (1, 2, 3, etc.) are assigned, which are used to predict the next move.
Change background color
Based on the number of times the price exceeds the Fibonacci level, the background color will change to green or red. The intensity of the color changes according to the number of consecutive times the price has exceeded the Fibonacci level.
Cue Size Limitations
Past symbols are added to the queue, but a size limit is set and old symbols are deleted when the queue exceeds a certain size.
Prediction Logic
Pattern matching is used to predict the next symbol based on patterns of past symbols.
Wick/Tail Candle MeasurementsThis indicator runs on trading view. It was programmed with pine script v5.
Once the indicator is running you can scroll your chart to any year or date on the chart, then for the input select the date your interested in knowing the length of the tails and wicks from a bar and their lengths are measured in points.
To move the measurement, you can select the vertical bar built into the indicator AFTER clicking the green label and moving it around using the vertical bar *only*. You must click the vertical bar in the middle of the label to move the indicator calculation to another bar. You can also just select the date using the input as mentioned. This indicator calculates just one bar at a time.
measurements are from bar OPEN to bar HIGH for measured WICKS regardless of the bar being long or short and from bar OPEN to bar LOW for measured TAILS also regardless of the bar being long or short.
This indicator calculates tails and wicks including the bar body in the calculations. Basically showing you how much the market moved in a certain direction for the entire duration of that Doji candle.
Its designed to measure completed bars on the daily futures charts. (Dow Jones, ES&P500, Nasdaq, Russell 2000, etc) Although it may work well on other markets. The indicator could easily be tweaked in order to work well with other markets. It is not designed for forex markets currently.
Open-Close Absolute Difference with Threshold CountsThe Open-Close Absolute Difference with Threshold Counts indicator is a versatile tool designed to help traders analyze the volatility and price movements within any given timeframe on their charts. This indicator calculates the absolute difference between the open and close prices for each bar, providing a clear visualization through a color-coded histogram.
Key features include:
• Timeframe Flexibility: Utilizes the current chart’s timeframe, whether it’s a 5-minute, hourly, or daily chart.
• Custom Thresholds: Allows you to set up to four custom threshold levels (Thresholds A, B, C, and D) with default values of 10, 15, 25, and 35, respectively.
• Period Customization: Enables you to define the number of bars (N) over which the indicator calculates the counts, with a default of 100 bars.
• Visual Threshold Lines: Plots horizontal dashed lines on the histogram representing each threshold for easy visual reference.
• Dynamic Counting: Counts and displays the number of times the absolute difference is less than or greater than each threshold within the specified period.
• Customizable Table Position: Offers the flexibility to position the results table anywhere on the chart (e.g., Top Right, Bottom Left).
How It Works:
1. Absolute Difference Calculation:
• For each bar on the chart, the indicator calculates the absolute difference between the open and close prices.
• This difference is plotted as a histogram:
• Green Bars: Close price is higher than the open price.
• Red Bars: Close price is lower than the open price.
2. Threshold Comparison and Counting:
• Compares the absolute difference to each of the four thresholds.
• Determines whether the difference is less than or greater than each threshold.
• Utilizes the ta.sum() function to count occurrences over the specified number of bars (N).
3. Results Table:
• Displays a table with three columns:
• Left Column: Counts where the absolute difference is less than the threshold.
• Middle Column: The threshold value.
• Right Column: Counts where the absolute difference is greater than the threshold.
• The table updates dynamically and can be positioned anywhere on the chart according to your preference.
4. Threshold Lines on Histogram:
• Plots horizontal dashed lines at each threshold level.
• Each line is color-coded for distinction:
• Threshold A: Yellow
• Threshold B: Orange
• Threshold C: Purple
• Threshold D: Blue
How to Use:
1. Add the Indicator to Your Chart:
• Open the Pine Editor on TradingView.
• Copy and paste the provided code into the editor.
• Click “Add to Chart.”
2. Configure Settings:
• Number of Bars (N):
• Set the period over which you want to calculate the counts (default is 100).
• Thresholds A, B, C, D:
• Input your desired threshold values (defaults are 10, 15, 25, 35).
• Table Position:
• Choose where you want the results table to appear on the chart:
• Options include “Top Left,” “Top Center,” “Top Right,” “Bottom Left,” “Bottom Center,” “Bottom Right.”
3. Interpret the Histogram:
• Observe the absolute differences plotted as a histogram.
• Use the color-coded bars to quickly assess whether the close price was higher or lower than the open price.
4. Analyze the Counts Table:
• Review the counts of occurrences where the absolute difference was less than or greater than each threshold.
• Use this data to gauge volatility and price movement intensity over the specified period.
5. Visual Reference with Threshold Lines:
• Refer to the horizontal dashed lines on the histogram to see how the absolute differences align with your thresholds.
Example Use Case:
Suppose you’re analyzing a 5-minute chart for a particular stock and want to understand its short-term volatility:
• Set the Number of Bars (N) to 50 to analyze the recent 50 bars.
• Adjust Thresholds based on the typical price movements of the stock, e.g., Threshold A: 0.5, Threshold B: 1.0, Threshold C: 1.5, Threshold D: 2.0.
• Position the Table at the “Top Right” for easy viewing.
By doing so, you can:
• Quickly see how often the stock experiences significant price movements within 5-minute intervals.
• Make informed decisions about entry and exit points based on the volatility patterns.
• Customize the thresholds and periods as market conditions change.
Benefits:
• Customizable Analysis: Tailor the indicator to fit various trading styles and timeframes.
• Quick Visualization: Instantly assess market volatility and price movement direction.
• Enhanced Decision-Making: Use the counts and visual cues to make more informed trading decisions.
• User-Friendly Interface: Simple configuration and clear display of information.
Note: Always test the indicator with different settings to find the configuration that best suits your trading strategy. This indicator should be used as part of a comprehensive analysis and not as the sole basis for trading decisions.
