Machine Learning Breakouts (from Pivots)I developed the 'Machine Learning Breakouts (from Pivots)' indicator to revolutionize the way we detect breakout opportunities and follow trend, harnessing the power of pivot points and machine learning. This tool integrates the k-Nearest Neighbors (k-NN) method with the Euclidean distance algorithm, meticulously analyzing pivot points to accurately forecast multiple breakout paths/zones. "ML Pivots Breakouts" is designed to identify and visually alert traders on bullish breakouts above high lines and bearish breakouts below low lines, offering essential insights for breakout and trend follower traders.
For traders, the instruction is clear: a bullish breakout signal is given when the price crosses above the forecasted high line, indicating potential entry points for long positions. Conversely, a bearish breakout signal is provided when the price breaks below the forecasted low line, suggesting opportunities to enter short positions. This makes the indicator a vital asset for navigating through market volatilities and capitalizing on emerging trends, designed for both long and short strategies and adeptly adapting to market shifts.
In this indicator I operate in a two-dimensional space defined by price and time. The choice of Euclidean distance as the preferred method for this analysis hinges on its simplicity and effectiveness in measuring and predicting straight-line distances between points in this space.
The Machine Learning Breakouts (from Pivots) Indicator calculations have been transitioned to the MLPivotsBreakouts library, simplifying the process of integration. Users can now seamlessly incorporate the "breakouts" function into their scripts to conduct detailed momentum analysis with ease.
Pivot points and levels
10 Minute Futures Session Open RangeInspired by SamRecio's 30sec OR script.
The 10 minute Opening Range (OR) dynamically identifies and visualizes the opening range of a trading session within the first 10 minutes after the market opens at 9:30 AM EST, concluding at 4:00 PM EST, reflecting the typical trading hours for U.S. stock exchanges. This indicator is particularly useful for strategies that rely on the initial market momentum and direction established during the early moments of the trading session.
Upon activation, the indicator calculates the highest (orHigh) and lowest (orLow) price levels reached during the first 10 minutes of the trading session, marking these levels with green (for the high) and red (for the low) lines directly on the chart overlay. Additionally, it computes and plots a midpoint (midPoint) between these high and low levels, displayed as a blue line, offering a visual reference for the median of the opening range.
The calculations are reset daily to ensure the indicator accurately reflects the opening range for each new trading session. By doing so, it avoids carrying over data from previous days, maintaining relevance and precision for day traders and those utilizing short-term trading strategies. The indicator also incorporates timezone adjustments to align with the America/New_York timezone, ensuring that the opening range is accurately captured regardless of the user's local timezone.
This tool is invaluable for traders looking to capitalize on breakout or reversion strategies around the opening range, providing clear visual cues for significant price levels established at the start of the trading session. By focusing on the first 10 minutes of trading, it caters to a specific segment of the market that believes the initial movements can set the tone for the rest of the day's trading activity.
Timely Opening Range Breakout Strategy [TORB] (Zeiierman)█ Overview
The Timely Opening Range Breakout (TORB) indicator builds upon the classic Open Range Breakout (ORB) concept. The ORB strategy is a popular trading setup used to identify trades around the opening range of an asset. It's based on the idea that the first few minutes (15-60 minutes) of trading often set the tone for the rest of the day, with breakouts above or below the opening range signifying potential trends.
TORB refines the concept by stating that a trade is only valid if there is sufficient market activity. This means a breakout beyond the upper or lower range is only of interest during the most active trading hours, as defined by PMMV (Per-Minute Mean Volume)
█ How It Works
ORB
The indicator works by first defining a session's opening range based on user-specified settings, including the session's start and end times and the applicable time zone. During this session, it calculates the high and low price points, which form the basis for identifying potential breakout levels.
PMMV
PMMV (Per-Minute Mean Volume) provides a snapshot of the market's activity level at each minute of the trading day. PMMV is calculated by averaging the trading volume in a one-minute interval over a specified number of trading days. This script uses the average volume over the last N periods to determine the PMMV value. This average volume provides a smoother representation of volume activity compared to using a single volume value. It considers the volume over a broader timeframe, filtering out short-term fluctuations and potentially offering a more reliable indicator of underlying market activity.
TORB
TORB works by integrating the Opening Range Breakout (ORB) highs and lows with the Per-Minute Mean Volume (PMMV) metric to assess the validity of breakouts. The objective is to identify breakouts from the opening high and low levels during periods of heightened market activity, as indicated by PMMV.
█ How to Use
To effectively utilize the Timely Opening Range Breakout (TORB) strategy, follow these steps:
Identify Active Hours: Employ PMMV to pinpoint periods of peak activity within the trading day.
Apply Basic ORB Rules: If the price surpasses the upper range (resistance), buy; if it breaches the lower range (support), sell.
Breakouts
The TORB strategy identifies breakout signals when the price moves beyond the established range, supported by volume exceeding a set threshold. This technique aims to eliminate false signals, focusing on price movements during high market activity.
█ Settings
Session
Trading Session: Customize the trading session's start and end times.
Volume
Volume analysis is integral to the TORB strategy, as it uses volume data to confirm the strength and validity of breakout signals.
Period: Sets the number of periods (or bars) to calculate the average volume, which is then used to assess market activity level.
Sensitivity and Significance: Adjusts how responsive the volume analysis is to changes in trading volume. By adjusting the sensitivity, traders can decide how much emphasis to place on volume spikes, potentially reducing false breakouts and focusing on those supported by significant trading activity.
Breakout Threshold
This setting establishes a criterion to identify when the price movement is significant enough.
Threshold: Traders set a threshold level to identify high market activity. If the PMMV is greater than or equal to this threshold, it indicates significant market activity.
Setting the correct threshold is key to balancing sensitivity and specificity. Too low of a threshold may lead to many false positives, while too high of a threshold might filter out potentially profitable breakouts. This setting helps in pinpointing when market activity indicates a strong move, thereby aligning trade entries with moments of heightened market momentum.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Relative Strength Scoring SystemRelative Strength Scoring System :
Important prerequisite :
This indicator can be loaded on any forex chart, i.e. a currency pair, but must not be loaded on any other asset due to certain market closures.
The chart timeframe must be less than or equal to the trading timeframe, which is the indicator's first parameter. A timeframe equal to that of the "Trading Timeframe" parameter is preferable.
Introduction :
This indicator measures the relative strength of a currency against all other currencies using spread formulas. It gives an indication of which currencies are bullish, neutral or bearish. The ultimate aim of this indicator is to find out which pair will generate a higher probability of gain than the others by pairing the most bullish pair with the most bearish pair.
Spread formulas :
To find the relative strength of a currency compared with others, we use the following spreads formulas :
USD = (FX:USDJPY/100+SAXO:USDEUR+FX:USDCHF+SAXO:USDGBP+FX:USDCAD+SAXO:USDAUD+FX_IDC:USDNZD)/7
JPY = (SAXO:JPYUSD/100+FX_IDC:JPYAUD/100+FX_IDC:JPYCAD/100+FX_IDC:JPYNZD/100+FX_IDC:JPYCHF/100+SAXO:JPYEUR/100+FX_IDC:JPYGBP/100)/7
CHF = (FX:CHFJPY/100+SAXO:CHFUSD+SAXO:CHFEUR+FX_IDC:CHFGBP+FX_IDC:CHFCAD+SAXO:CHFAUD+FX_IDC:CHFNZD)/7
EUR = (FX:EURJPY/100+FX:EURUSD+FX:EURCHF+FX:EURGBP+FX:EURCAD+FX:EURAUD+FX:EURNZD)/7
GBP = (FX:GBPJPY/100+FX:GBPUSD+FX:GBPCHF+SAXO:GBPEUR+FX:GBPCAD+FX:GBPAUD+FX:GBPNZD)/7
CAD = (FX:CADJPY/100+SAXO:CADUSD+FX:CADCHF+FX_IDC:CADGBP+SAXO:CADEUR+FX_IDC:CADAUD+FX_IDC:CADNZD)/7
AUD = (FX:AUDJPY/100+FX:AUDUSD+FX:AUDCHF+SAXO:AUDGBP+FX:AUDCAD+SAXO:AUDEUR+FX:AUDNZD)/7
NZD = (FX:NZDJPY/100+FX:NZDUSD+FX:NZDCHF+SAXO:NZDGBP+FX:NZDCAD+SAXO:NZDAUD+SAXO:NZDEUR)/7
CRYPTO = (BITSTAMP:BTCUSD+BITSTAMP:ETHUSD+BITSTAMP:LTCUSD+BITSTAMP:BCHUSD)/4
Timeframes :
As mentioned in the prerequisites, the chart timeframe must not be greater than the trading timeframe. The latter corresponds to the timeframe chosen by the trader to enter a position, and is the indicator's first parameter. Once this has been chosen, the algorithm selects the timeframes of the "Trend" and "Velocity" charts. Here's how it allocates them :
Trading TF => ("Velocity TF", "Trend TF")
"5min" => ("15min ", "60min")
"15min" => ("60min ", "4h")
"30min" => ("2h ", "8h")
"60min" => ("4h ", "12h")
"4h" => ("12h", "1D")
"6h" => ("1D", "3D")
"8h" => ("1D", "4D")
"12h" => ("2D", "1W")
"1D" => ("3D", "1W")
Trend Scoring System :
When the timeframe of the trend graph has been allocated, the algorithm will establish this graph's score using three criteria :
Trend chart pivot points: if the last two pivots, high and low, are increasing, the score is 1; if they are decreasing, the score is -1; else the score is 0.
SMA: if its slope is increasing with a candle strictly above the SMA value, the score is 1; if its slope is decreasing with a candle strictly below it, the score is -1; otherwise, it is 0.
MACD: if the MACD is positive, the score is 1, if it is negative, the score is -1; else it's 0.
We then sum the scores of these three criteria to find the trend score.
Velocity Scoring System :
In the same way, we analyze the score of the "velocity" graph with its corresponding timeframe using three criteria :
The EMA: if its slope is increasing with a candle strictly above the EMA value, the score is 1; if its slope is decreasing with a candle strictly below it, the score is -1; otherwise, it is 0.
The RSI: if the RSI's EMA has an increasing slope with an RSI strictly greater than the value of this EMA, the score is 1; and if the RSI's EMA has a decreasing slope with an RSI strictly less than this EMA, the score is -1; otherwise it is 0.
SAR parabolic: if the SAR is below the price, the score is 1; if it is above the price, the score is -1.
We then sum the scores of these three criteria to find the velocity score.
Relative Strength Scoring System :
Once the trend score and velocity score have been calculated, we determine the relative strength score of each currency using the following algorithm :
If trend score >=2 and velocity score >=2, the currency is bullish.
If trend score <=2 and velocity score <=2, currency is bearish
If (trendScore>=2 or velocityScore>=2) and (trendScore=1 or velocityScore=1) the currency is not yet bullish
If (trendScore<=2 or velocityScore<=2) and (trendScore=-1 or velocityScore=-1) the currency is not yet bearish.
Otherwise the currency is neutral
Parameters :
Trading Timeframe: the trading timeframe chosen by the trader for which he makes his position entry and exit decisions. Default is 1h
Pivot Legs: Parameter used for the chart "Trend" setting the pivot strength to the right and left of high/low. Default is 2
SMA Length: SMA length of the chart "Trend". Default is 20
MACD Fast Length: Length of the MACD fast SMA calculated on the chart "Trend". Default is 12
MACD Slow Length: Length of the MACD slow SMA calculated on the chart "Trend". Default is 26
MACD Signal Length: Length of the MACD signal SMA calculated on the chart "Trend". Default is 9
EMA Length: EMA length of the "Velocity" graph. Default is 13
RSI Length: RSI length of the "Velocity" graph. Default is 14
RSI EMA Length: Length of the RSI EMA. Default is 9
Parabolic SAR Start: Start of the SAR parabola in the "Velocity" graph. Default is 0.02
Parabolic SAR Increment: Increment of the SAR parabola in the "Velocity" graph. Default is 0.02
Parabolic SAR Max: Maximum of the SAR parabola in the "Velocity" graph. Default is 0.2
Conclusion :
This indicator has been designed to determine the relative strength of the major currencies against each other. The aim is to know which pair to trade at the right time in order to maximize the probability of a successful trade. For example, if the USD is bullish and the NZD bearish, we'll short the NZDUSD pair.
Enjoy this indicator and don't forget to take the trade ;)
3 Pivots Interpolation BreakoutsI designed the '3 Pivots Interpolation Breakouts' indicator to intuitively identify breakout opportunities using pivot points. This tool stems from my need to anticipate market direction and capitalize on breakouts. It uses a line interpolated from three pivot highs or lows to forecast upcoming breakouts. This offers a straightforward way to visualize potential bullish and bearish breakouts with color-coded extrapolations. The aim is to simplify breakout detection, enhancing your trading strategy with precise, actionable insights.
Pivot Extremes BreakoutI created the "Pivot Extremes Breakout" (PEB) indicator to easily spot breakout zones using pivot points. This tool comes from my need to anticipate market direction and capitalize on breakouts. PEB uses the last two pivot points to predict price paths and highlights potential breakout areas, adjusting for any timeframe. It simplifies seeing where the market might move next with color-coded lines and zones, aiming to improve your trading decisions.
Liquidity LevelsThe "Liquidity Levels" indicator on TradingView is designed to identify and highlight liquidity levels in the market. This indicator is based on pivot highs and lows with an adjustable offset to adjust the importance and length of the identified levels.
The strength of this indicator lies in its ability to highlight changes in liquidity levels, which can be crucial for traders. By marking pivot highs and lows, potential areas of high liquidity are highlighted, which can indicate where significant market movements or reversal points may occur.
The flexibility of whether the calculation is based on the closing price or the high/low prices allows for customisable analysis. The visual representation of liquidity levels by lines makes it easier to identify and monitor these key areas in the chart, which can provide additional value for traders.
Timeframe PivotsUse this tool to plot open prices from any timeframe as a pivot level with the option to go advanced and turn on extensions (instructions below), which review the relationship between previous and current open prices to build range extensions up to six levels wide.
Please be aware extensions, nor vwap are not enabled by default! It is up to the user to determine how they wish to setup this indicator. Please read the full description for utilizing this indicator so that it's well known the complete feature set and understanding of how to enable additional plots, complete instruction is provided for all users below.
Default configuration example:
To enable extensions the user must open the indicator configuration by clicking the gear icon for "Timeframe Pivots", depending on screen resolution scrolling with mouse may need to occur in order to find the section labeled "Extensions", use the mouse or equivalent human interface device to check the checkbox to the right of the color plots and line type drop down.
Extensions enabled example:
Timeframe Selection
Timeframes available to the indicator are any timeframe the platform makes available to the user by default, or also if the TradingView user has higher tier plan to create custom timeframes - those should be available as well. To adjust timeframe the user must open the indicator configuration by clicking the gear icon for "Timeframe Pivots", depending on screen resolution scrolling with mouse may need to occur in order to find the input labeled "Timeframe", use the mouse or equivalent human interface device select the drop down and select timeframe suitable to users application.
How the extension width and extensions are calculated:
The exact process takes the new timeframe change open price calculates the difference between prior open, once that has been completed then it's divided in half to build extensions.
Code example:
Extension Width = (Open - Open ) / 2
How the extensions are calculated:
// +1 for positive extension, -1 for negative extension
(Extension Width * (Configured Multiplier * 1)) + Pivot Open Price
+1 Extension:
$5 * (1.0 * 1) + $400 = $405
-1 Extension:
$5 * (1.0 * -1) + $400 = $395
So it should be established how each projected extension, either positive or negative, is created.
Range bound market detection and notes:
One note regarding the ranges, sometimes the open prices of each period can be close in proximity to their predecessor, there's not enough range to build meaningful projections. In these situations this means the market is most likely range bound and prior range data is utilized to continue providing guidance. This addresses an issue with other pivot indicators that will instead blindly follow price and present useless pivot ranges.
It does this through detection of average half range widths, the last 14 ranges to be exact, if the current, (open - open / 2), half range width is smaller than the average, prior half range width will be used.
Code example:
// assume past half range widths are 10, 8, 9, 5, 14, 7, 7, 9, 10, 10, 4, 7, 7, 8
float v_halfRangeWidthToUseForExtensions = na
v_priorHalfRangeWidth = 10
v_avgHalfRangeWidth = 8.2 // past range widths sum = 115 / 14
v_newHalfRangeWidthToUseForExtensions = 2 // new open - open is tiny compared to avg
if v_newHalfRangeWidthToUseForExtensions < v_avgHalfRangeWidth
// replace new half range width with previous one
v_newHalfRangeWidthToUseForExtensions := v_priorHalfRangeWidth
In the code example above if the new half range width was above or equal to the rolling average, no adjustment would be made by the indicator.
VWAP
Additional feature of showing vwap, anchored to the same timeframe as the pivot, provides a trend and volume analysis within the confines of the pivots range.
The user must open the indicator configuration by clicking the gear icon for "Timeframe Pivots", scroll using mouse to the "VWAP" section and click the checkbox next to the "Source" field, past the color plots. They are not enabled by default!
The user can also add the bands for VWAP by clicking the checkbox next to the "Bands" field, past the color plots. They are not enabled by default!
VWAP calculations begin from open price of new timeframe change, then afterwards the "Source" set is utilized, the default is HLC3 which is standard for VWAP indicators.
Multiple Timeframe Analysis (MTFA)
It's simple to create a unique combination of favored timeframes for multiple timeframe analysis, consider daily, weekly and monthly combined analysis for powerful indications of market sentiment and directional bias.
Example MTFA demonstration:
Why was this created?
I created this while investigating the efficacy of open price ranges, it became apparent that these pivot ranges are some of the more price respecting pivots I've ever observed. I also grew tired of lack of price adherence to other pivot indicators widely available.
There exists a relationship between each timeframes open price in comparison to prior open price, if the market is willing to navigate to a prior lower open price from higher open price, it could be perceived as bearish and the extensions (if enabled as instructed above), could be suitable range based projections for future price movements.
Example comparison:
As can be seen, and there are many examples, where Timeframe Pivots provides more discreet levels and potential explanations for price movements.
Blockunity Level Presets (BLP)A simple tool for setting performance targets.
Level Presets (BLP) is a simple tool for setting upside and downside levels relative to the current price of any asset. In this way, you can track which price the asset needs to move towards in order to achieve a defined performance.
How to Use
This indicator is very easy to use, you can set up to 5 upward and downward targets in the parameters.
Elements
The main elements of this tool are upward (default green) and downward (default red) levels.
Settings
Several parameters can be defined in the indicator configuration.
In addition to configuring which performance value to set the level at, you can choose not to display it if you don't need it. For example, here we display only two levels:
You can also choose not to display the labels:
Also concerning labels, you can choose not to display them in currency format, but in numerical format only (for example, if you're viewing a non-USD pair, such as ETHBTC):
Finally, you can modify design elements such as colors, level widths and text size:
How it Works
Here's how upside (_u) and downside (_d) levels are calculated:
source = close
level_1_u = source + (source * (level_1 / 100))
level_1_d = math.max(source - (source * (level_1 / 100)), 0)
Automatic Fibonacci Retracement Golden Pocket (GP)Main info
This script automatically draws you the Fibonacci retracement level called golden pocket from the latest detected pivot point to the actual price. This level is very popular among traders because the price tends to reverse on this level pretty often. You should use this on higher timeframes 15m+.
It is good to keep in mind that this level alone is not enough, you should still have another level there to enter the trade, for example golden pocket in combination with a demand zone is pretty solid. :)
Settings
The length for pivot point calculation is available in the script settings.
You can enable inverted golden pocket (for shorts)
You can hide/show the pivot point labels
If you want any updates, just feel free to write me :)
Top Cap ADD%This is a very basic oscillator that plots the average % change of the top 5 highest market cap stocks in the S&P500. It can be easily modified to suit your needs on which stocks you'd like to track, and or filter out the threshold you're looking for.
Liquidity-Finder ICT / SMCIn the context of ICT and the Smart Money Concept, liquidity is likely viewed as a crucial factor for determining the strength and sustainability of a market move. Smart Money is often associated with large institutional traders who have the ability to influence liquidity.
Liquidity Sweep:
A liquidity sweep in this context might involve Smart Money intentionally executing trades across various price levels to assess market depth and liquidity. This information can be used to identify potential areas of interest for Smart Money to initiate or exit positions without causing significant price disruptions.
Stop Hunt:
Stop hunting is a concept that Smart Money traders may employ to deliberately trigger stop orders in the market. By doing so, they can create temporary price movements that allow them to accumulate or liquidate positions at more favorable prices before the market reacts.
Smart Money Concept (SMC):
The Smart Money Concept revolves around the idea that large institutional traders (Smart Money) have superior information and resources compared to retail traders. Understanding the behavior of Smart Money, as taught in ICT and SMC, involves analyzing market dynamics, order flow, and liquidity to make more informed trading decisions.
Liquidating:
Liquidating refers to the process of selling or closing out existing positions. In the context of Smart Money, the term could imply that institutional traders are actively managing their positions, either taking profits or cutting losses strategically based on their analysis of market conditions.
The Indicator
The Indicator show open liquidity as solid lines and liquidates liquidity as dashed lines
Is able to send alerts for liquidity level was liquidated, liquidity level was dipped or the next close is on the other side
Implied Orderblock Breaker (Zeiierman)█ Overview
The Implied Order Block Breaker (Zeiierman) is a tool designed to identify enhanced order blocks with imbalances. These enhanced order blocks represent areas where there is a rapid price movement. Essentially, this indicator uses order blocks and suggests that a swift price movement away from these levels, breaking the current market structure, could indicate an area that the market has not correctly valued. This technique offers traders a unique method to identify potential market inefficiencies and imbalances, serving as a guide for potential price revisits.
The indicator doesn't scan for imbalances in the traditional sense — where there's an absence of trades between two price levels — but instead, it identifies quick movements away from key levels that suggest where an imbalance might exist. Relying on crossovers and cross-unders in conjunction with pivot points and examining the high/low within the same period provides an innovative method for traders to spot these potentially undervalued or overvalued areas in the market. These inferred imbalances can be crucial for traders looking for price levels where the market might make significant moves.
█ How It Works
Bullish
Crossover: The closing price of a bar crosses above a pivot high, which is an indication that buyers are in control and pushing the price upwards.
New Low Within Period: There is a lower low within the same period as the pivot high. This suggests that after setting a high, the market pulled back to set a new low, potentially leaving a price gap on the way up as the price quickly recovers.
Bearish
Crossunder: The closing price of a bar crosses under a pivot low, indicating that sellers are taking control and driving the price down.
New High Within Period: There is a higher high within the same period as the pivot low. This condition suggests that the market rallied to a new high before falling back below the pivot low, potentially leaving a gap on the way down.
█ How to Use
The enhanced order blocks are often revisited, and the price may aim to 'fill' the potential imbalance created by the rapid price movement, thereby presenting traders with potential entry or exit points. This approach aligns with the idea that imbalances are frequently revisited by the market, and when combined with the context of Order Blocks, it provides even more confluence.
Example
Here, if the price drops rapidly after setting a new high—crossing under the pivot low—it may skip over certain price levels, creating a 'gap' that signifies an area where the price might have been overvalued (imbalance), which the market may revisit for a potential price correction or revaluation.
█ Settings
Period: Determines the number of bars used for identifying pivot highs and lows. A higher value gives more significant but less frequent signals, while a lower value increases sensitivity but might give more false positives.
Pivot Surrounding: Specifies the number of candles to analyze around a pivot point. Increasing this value broadens the analysis range, potentially capturing more setups but possibly including less significant ones.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
AUTO STOP LEVELThis is a simple yet highly efficient code that calculates stop levels, taking into account the market trend and its volatility.
This script calculates and displays (as a white point in the chart) a stop-loss by considering both volatility and the nearest support/resistance point.
The stop level is determined as the average of three specific values: firstly, two distinct volatility indicators - ATR and Bollinger Bands, and finally, the nearest support/resistance provided by the Supertrend indicator.
Moreover, it analyzes the trend to determine whether the stop should be set for long or short positions, providing insights into the most probable path of future prices. For instance, if the calculated stop level is below the current market prices, it suggests taking long positions, and vice versa.
Customization options include fine-tuning the standard parameters for the three indicators used in averaging and selecting multiple time frames.
Market Structure - Multi-TimeframePivot based channels for 8 individual time-frames. This can be used to identify the support and resistance level for different time-frames. Recommended is 1min as timeframe for the candles sticks. The direction for every pivot-channel is marked in green for bullish and red vor bearish. There exists alerts for Choch and BoS for every timeframe.
IU Support and Resistance How this script works :
1. This script is an indicator script which calculates the support and resistance based on pivot high and pivot low and plot them as zone onto the chart.
2. The first user input is minimum number of touches which indicates how many time pivot high or pivot low should be tested in order to be a valid support or resistance level.
3.The second user input "Set Buffer" check if the user wants to use a custom buffer or not if it's unchanged then the default is 50% of the 1000 period ATR value .
4. If "Set Buffer" is checked meaning if it's set to true then only the third user input will be execute which is the "buffer" which indicates how much price range user wants his zone to have.
5. After the user input part this script create two arrays to store the pivot high and pivot low values every time he have a new value.
6. This script also creates two arrays to store the bar index of the bar where the new pivot high or pivot low is detected those bar index will be later use while creating the support and resistance zones.
7. Then the script creates four more arrays to store the final support and resistance values and their respective bar index which will be use for creating the support and resistance zones.
8. After this the script check that we are at the last bar of our chart if we are then we sort the support and resistance indices by descending order and store them into an new variable after that we sort the support and resistance arrays by descending order, then we loop through the arrays elements and we check if the previous element comes under the zone of the current element if so we increase the "minimum touch" variable by 1, once we have 5 or more count in our variable and we no longer have a valid zone then we store the element value and the sorted index of the element into our final arrays.
9. Finally the script will loop through the final support and resistance arrays and it will create a box for each support and resistance with respect to extending it on both directions.
10.The green zones are the support and the red zones are the resistance.
How user can benifits from this script:
1. User can automatically identify support and resistance zones and he can plan his trade as per that.
2. User can test how different markets reacts with support and resistance zones.
3. User can plan breakout trade on the break of the support or resistance level.
4. User can adjust he stop loss and take profit as per the support and resistance zones.
PKJ StrategyWelcome to the Daily Price Action Mastery Strategy, a powerful approach to navigating the financial markets using the purest form of market analysis – price action. This trading view strategy is meticulously crafted for those seeking a method that harnesses the daily price movements to make informed and strategic trading decisions.
Key Features:
Daily Candlestick Analysis: Dive into the daily candlestick patterns to identify key support and resistance levels, trend reversals, and potential breakout points. The strategy leverages the valuable information encapsulated in each day's price action to discern market sentiment.
Trend Identification: Utilize trend analysis tools and indicators to pinpoint the prevailing market direction. By understanding the dynamics of daily trends, traders can align their positions with the broader market movement for higher probability trades.
Dynamic Support and Resistance: Implement dynamic support and resistance levels derived from daily price action. These levels act as crucial markers for entry and exit points, helping traders set effective stop-loss and take-profit orders.
Chart Patterns Recognition: Uncover chart patterns such as head and shoulders, flags, and triangles on the daily timeframe. The strategy incorporates pattern recognition techniques to identify potential trend continuation or reversal scenarios, offering traders a comprehensive view of market dynamics.
Volatility Analysis: Gauge market volatility by studying daily price ranges and fluctuations. Volatility indicators are integrated to help traders adjust their risk management strategies in response to varying market conditions.
Confirmation through Indicators: Supplement price action analysis with carefully selected indicators for additional confirmation signals. These indicators are chosen to align with the philosophy of the Daily Price Action Mastery Strategy, enhancing the precision of trade entries and exits.
Risk Management Guidelines: Discover effective risk management practices tailored to the daily timeframe. Learn how to optimize position sizes, set appropriate stop-loss levels, and manage capital to ensure long-term success and sustainability in your trading journey.
Whether you are a seasoned trader or a newcomer to the markets, the Daily Price Action Mastery Strategy provides a comprehensive framework to navigate the complexities of daily price movements. Elevate your trading experience by incorporating this strategy into your analysis, and empower yourself to make well-informed decisions in the dynamic world of finance.
Swing IdentifierThe "Swing Identifier" is a custom Pine Script indicator designed for use in the TradingView platform. It serves to visually identify and mark swing highs and swing lows on a trading chart, which are key concepts in technical analysis. This script is comprehensive and customizable, making it a useful tool for traders looking to pinpoint potential trend reversals and support or resistance areas.
**Key Features of the 'Swing Identifier' Indicator:**
1. **Swing Range Input:**
- This input determines the number of bars to the left and right of the current bar that the script will examine to identify a swing high or low. A larger value will look for swings over a broader range, potentially identifying more significant swings but at the expense of sensitivity.
2. **Swing Strength Input:**
- The swing strength is set as a percentage and is used to filter out insignificant price movements. A swing high or low is only considered valid if the percentage change from the last swing is greater than this input value. This feature helps in avoiding false signals in sideways or less volatile markets.
3. **Use Wicks Option:**
- Users can choose whether to consider the wicks of the candles or just the closing prices in identifying swings. This feature adds flexibility, allowing the script to be tailored to different trading styles and strategies.
4. **Line Color Customization:**
- The color of the lines marking the swings can be customized, enhancing the visual appeal and readability of the chart.
**Operational Mechanics:**
1. **Identification of Swing Highs and Lows:**
- The script uses the `ta.pivothigh` and `ta.pivotlow` functions to identify swing highs and lows. Whether it uses the high/low of the candles or their closing prices is determined by the user's choice in the "Use Wicks" option.
2. **Drawing and Updating Lines:**
- When a new swing high or low is identified, and it meets the percentage change criteria from the previous swing, a line is drawn from the last swing low to the current high (or vice versa). If a new swing high (or low) is identified that is higher (or lower) than the previous one, the old line is deleted, and a new line is drawn.
3. **Swing Update Logic:**
- The script maintains a toggle mechanism to look alternatively for highs and lows. This ensures that it sequentially identifies a high and then a low (or vice versa), which aligns with how actual market swings behave.
**Usage in Trading:**
1. **Identifying Trend Reversals:**
- By marking swing highs and lows, the script helps traders identify potential trend reversals. A break of a swing low in an uptrend or a swing high in a downtrend could signal a change in the prevailing trend.
2. **Support and Resistance:**
- Swing highs and lows often act as levels of support and resistance. Traders can use these levels for setting entry or exit points, stop losses, and take profit orders.
3. **Customization for Strategy:**
- The customizable nature of the script allows traders to adjust the parameters according to their trading strategy, time frame, and asset volatility.
In summary, the "Swing Identifier" is a versatile and customizable tool that aids in visually identifying crucial price swing points, thereby assisting traders in making informed decisions based on technical analysis principles.
Algoflow's Levels PlotterAlgoflow's Levels Plotter - Indicator
Release Date: Jan. 15, 2024
Release version: v3 r1
Release notes date: Jan. 15, 2024
Overview
Parses user's input of levels to be plotted and labeled on the chart for NQ & ES futures
Features
Quick plotting of predetermined price levels.
- Type or copy from another source of values in a predetermined output format.
Supports separate line plotting for Weekly, OVN and RTH values
- Plot only Weekly, OVN or RTH levels, or all
- Configure colors separately for Inflection Points, Weekly, OVN & RTH levels
- Shift/place price labels separately to easily identify levels
User Impacts of Changes
Requires users to remove previous version and re-add indicator "Algoflow's Levels Plotter", then re-add values. Colors and shift values will need to be re-entered and/or reconfigured
Support
Questions, feedbacks, and requests are welcomed. Please feel free to use Comments or direct private message via TradingView.
Quick usage notes:
The indicator allows you to enter data for both ES & NQ at the same time. This is useful in single chart window/layout situations, like viewing on the phone. When you switch between futures, the data is already there.
If you leave the entries blank, nothing will be plotted. This is useful if you want to have separate charts for ES & NQ. So you can just enter only the relevant data of either.
As an indicator, input values are saved within it, until it is removed from the chart. Input for one chart will not update other charts of the same ticker, even in the same layout.
The easiest and quickest way to share the inputs across all charts and layouts is to use the Indicator Templates feature.
- After input values are entered (for both ES & NQ futures) via the indicator's Settings, select ""Save as Default"".
- Click on ""Indicator Templates"" (4 squares icon), and click on ""Save Indicator template...""
- Remove the previous version of the indicator in other charts.
- Click on ""Indicator Templates"" icon, and select the newly created template. Repeat this for other charts of the same futures ticker
The labels can be disabled in settings > Style tab. Use the Inputs tab to configure orientation (left or right of current bar on chart), and how much spacing from the current (in distance of bars)
Format example:
Primary directional inflection point: 1234
For Bulls: 1244.25, 1254, 1264.50
For Bears: 1224, 1214, 1204
Changes
v3 r1 - Fixed erroneous default values in Weekly input sections. Added options to en/disable display of each set (session) of levels. Default label text size to normal, from small.
- Jan 15, 2024
v2 r9 - Added support for USTEC & US500.
- Dec. 10, 2023
v2 r8 - Added configuration features for users to modify the labels' text colors and size. Simplified code further by moving inputs processing modules into a single user function.
- Oct. 31, 2023
v2 r7 - Added support for the micro NQ & ES. Modified to ignore string case in inputs
- Oct 18, 2023
v2 r4 - Added support of weekly lines and labels features. Began the process of optimizing/simplifying code
- Oct. 15, 2023
v2 r3 - Made Inflection Point levels' colors configurable
- Oct. 04, 2023
v2 r2 - Removed comments & debug codes from development build revision #518
- Oct. 04, 2023
v2 r1 - Released from development revision #518. Major rewrite to fix previous and overlapping plots of lines and labels.
- Oct. 04, 2023
v1 r2 - First release of indicator
- Oct. 02, 2023
Intraday Fibonacci Levels [Gorb]Welcome to the Intraday Fibonacci Levels indicator, a dynamic and customizable tool designed for traders who incorporate Fibonacci retracements and extensions into their technical analysis. This indicator focuses on intraday price action, allowing you to select a specific candle from any trading session and visualize crucial Fibonacci levels derived from its high and low prices.
Features:
Candle Selection for Fibonacci Analysis: Select any candle based on its time to plot Fibonacci levels, giving you control over the period of analysis.
Customizable .236 and .618 Fibonacci Levels: Plot and customize the .236 and .618 Fibonacci retracement and extension levels. Adjust color and line style for each level to fit your chart preferences.
User-Friendly Interface: Easy-to-use input fields for selecting the candle time and configuring Fibonacci settings. Intuitive toggle options to display or hide specific Fibonacci levels.
Dynamic Updating: The indicator updates in real-time as new price data is received, ensuring you have the latest Fibonacci levels on your chart.
Usage Case:
This indicator is ideal for day traders and technical analysts who utilize Fibonacci tools to identify potential support and resistance levels, trend reversals, or continuation patterns. Whether you are analyzing a high-impact news event candle or a significant pivot point in the trading day, this indicator helps bring clarity to your Fibonacci-based trading strategy.
Guidelines for Usage:
Use the indicator settings to select the candle time and configure your desired Fibonacci levels. You can choose any time you want, in order to use premarket candles you need to enable electronic hours on your chart to have levels plot from pre/post.
These auto plotted levels can act as pivot points or points of support and resistance for traders to make informed trading decisions near these levels. Analyze the plotted Fibonacci levels in conjunction with other technical indicators or price action patterns for informed trading decisions.
Conclusion:
This indicator is a versatile and essential tool for traders who rely on Fibonacci analysis as part of their trading arsenal. By offering the flexibility to analyze specific candles and customize Fibonacci levels, this indicator empowers you to make more informed trading decisions. Its user-friendly design and real-time updating capabilities ensure that you have access to accurate and relevant Fibonacci data at any moment of the trading day.
RISK DISCLAIMER
All content, tools, scripts & education provided by Monstanzer or Gorb Algo are for informational & educational purposes only. Trading is risk and most lose their money, past performance does not guarantee future results.
Key Levels | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Key Levels indicator! This indicator allows you to see the key levels on the current chart such as previous day lows / highs, pre-market data, yesterday's close, today's open, pivot points, and much more! It's highly user-friendly with every line being individually customizable and having a wide range of text options.
Features of the new Key Levels indicator :
Today & Yesterday High, Low, Open & Close
Previous 3-10th Day Highs & Lows
Pre-Market Highs & Lows
Previous Month High & Low
High & Low Pivots
Combination Of Same Levels
Wide Customization Options
📌 HOW DOES IT WORK ?
Key levels are important areas in a chart where a significant reaction is expected. In this indicator, you can enable up to the previous 10 days highs and lows, yesterday's close / today's open, and the latest pivot points. Key levels generally act like support & resistance. Here are a few examples :
As shown, key levels play an important role determining the current trend and can be useful in identifying potential levels where the market will reverse or breakout.
🚩UNIQUENESS
1. More Key Levels
We believe that past key levels may be as important as current ones. Some of the key-levels indicators do not include them even though strong reactions can happen around them. Thus, our indicator let's you check up to 10 days backwards.
You can select the ones you think that are the most important and just enable them, making the indicator customizable to your liking.
2. Pre-Market Data
With assets that have pre-market data available, it's crucial to analyze it to have a better understanding of the market in regular trading hours. Our indicator will plot pre-market highs and lows, even if your chart is in the regular trading hours only mode. We believe this will be helpful with your analyzing process.
3. Combination
The indicator can dynamically combine same key levels, so you can have a clear look to the chart without lines & text colliding with each other. This would also help you determine stronger key levels as if a key level occured more than a time, it could be a sign that it's a stronger one. An example :
To summarize, using key levels is an essential skill while detecting zones where strong reactions are expected. This indicator provides up to 10 day's high and low levels, and all of them can be individually turned on / off. Traders that believe older key levels can be important and want to look at the whole picture may use this feature. Also for assets that have pre-market data available, the indicator provides pre-market levels as well. Besides all that, High & Low pivots will provide latest key levels so traders can use them in their decisions.
⚙️SETTINGS
1. General Configuration
You can enable / disable :
1. Today's High / Low / Open
2. Yesterday's High / Low / Close
3. 3th-10th Day High / Low
4. Pre-Market High / Low
5. Previous Month High / Low
You can also change the colors and switch their line styles between solid, dashed and dotted.
2. High & Low Pivots
Enabled -> Enable / Disable High & Low Pivots
Pivot Range -> The range used in the detection of pivot points. Larger values will result in less pivot points, while smaller values will provide more pivot points. This essentially determines how many bars to the right & left shouldn't exceed the pivot's high or low.
You can also change the text color and text size of the pivots from the settings.
3. Style settings
Text Offset -> How many bars of offset should the texts have to the right. Increase if text collides with bars while Align Labels option is set to "Right".
Extend Lines -> If enabled, lines will be extended infinitely to right & left. If disabled, all lines will be clamped in their timelines.
Show Line Values -> If enabled, line information text will contain their price.
Align Labels ->
Right = Align line labels to right.
Center = Line labels will always be at the center of the screen.
DominancesIndicator allows to observe market via different types of Dominations: BTC, ETH, Altcoins and Stablecoins. Moreover, if you'll open altcoin on the main chart it will display dominance for it as well (so you can turn off other dominances in the settings, so it see only dominance of the opened token)
Please, we aware that not all of the coins in the market allows to observe their dominations. So don't be afraid if error will be displayed, just open other token and everything will be all right again.
CANDLE LEVELS [PRO]This indicator provides you with 55 levels! with labels to help you identify quickly where current price is in relation to the OPEN, CLOSE, HIGH OF DAY and LOW OF DAY to a respective level. Choose from levels as low as the 5 minute time frame all the way up to 200 days. All of the levels except the day's OPEN, HIGH OF DAY AND LOW OF DAY use the PREVIOUS time frame's level. In other words, when you're looking at the "1 DAY HIGH", that's actually the previous day's HIGH OF DAY. Whether you're a scalper on the lower time frames or a swing trader that mainly uses the 1 hour and above, these candle levels can be an invaluable source of support and resistance; in other words you'll often see price bounce off of a level (whether price is increasing or decreasing) once or multiple times and that could be an indication of a price's direction. Another way that you could utilize this indicator is to use it in confluence with other popular signals, such as an EMA crossover. For instance, you could watch as price rises above the 21 EMA all the while price is also crossing up and over the previous day's HIGH OF DAY with a relative volume that's double that of the previous week's average. These are just a few of some potential bullish signals that you could look for to go long on a trade using the candle levels provided.
I've made this indicator extremely customizable:
⚡Each level has 2 labels: 1 "at level" and 1 "at right", each label and price can be disabled
⚡Each label has its own input for label padding. The "at right" label padding input allows you to zoom in and out of a chart without the labels moving along their respective axis
⚡Each label's text can be customized via an "input.string" code base
⚡Each level's label can be changed via a plot style setting to determine if the label is centered with it's respective level or rides along the top of it
⚡Significant figures input allows you to round price up or down
⚡A "bias EMA" tool that color codes the candles and price line to show you where price is in relation to the 21 EMA (or another value that you pick). As a result, this can be an effective visual to help reduce cognitive load
⚡A "fill level" where color is determined by price opening above or below the previous day's close
⚡A "use current close" setting that's great to use in pre-market as it shows you where price is in relation to the previous days' close
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🙏Thanks to (c)satymahajan for the inspiration behind the ATR "previous close" and "bias candle" code base
🙏Thanks to my mentor (c)SimpleCryptoLife for the libraries and extensive code to help create this indicator
