This indicator is currently in its early beta phase, and I have plans to make upgrades over time. If you come across any bugs or have ideas for additional features, please don't hesitate to share them in the comments.
The Price Action Concepts indicator is designed to serve as an all-in-one script, offering trading confluence points such as volumetric order blocks, market structure insights, liquidity grabs, and more. These aspects can significantly contribute to making trading decisions.
The indicator includes:
- Internal market structure points (CHoCH, CHoCH+, and BOS)
- Swing market structure points (CHoCH and BOS)
- Volumetric order blocks
- Liquidity Grabs
- HTF (High Time Frame) highs and lows
Within the settings, you have the flexibility to:
- Choose whether to display only internal or swing market structure points
- Adjust the length of both swing and internal pivot points to determine the trend direction
- Select to show any one of the three market points (CHoCH+, CHoCH, BOS)
- Utilize candle coloring mode for a clearer visualization of the current market trend
- Display the high and low points of the daily, weekly, monthly, or yearly timeframe
- Decide how many volumetric order blocks to show on the chart
- Apply a multiplier to add more visibility of the volumetrics order blocks
- Pick the timeframe from which the volume of the order blocks is taken
- Set the volume MA (Moving Average) threshold when the volume should be above the average
- Determine the threshold for the wick-to-candle body ratio, indicating a significant wick size relative to the body.
NOTE: To enhance the visibility of bar coloring, it's recommended to hide the current ticker.
You can adjust the indicator's output to align more closely with your trading preferences and strategies, while keeping market dynamics.
Market structure examples:
When the market breaks the bullish BOS (Break Of Structure) multiple times, it's a sign of a strong uptrend. This means the market is consistently surpassing its recent highs, indicating that buyers are taking charge.
On the other side, when the market repeatedly breaks the bearish BOS, it points to a solid downtrend. In simpler terms, the market keeps falling below its recent lows, showing that sellers are in control.
Now, let's talk about CHoCH (Change of Character). This occurs when the market shifts its behavior by breaking the opposite high or low. For instance, if a bullish BOS breaks but the price then drops to a recent low, it's a sign that sellers are gaining control, leading to a change in the market's direction.
The main difference between CHoCH and CHoCH+ is their strength of reversal. CHoCH+ is a stronger indicator because it forms two consecutive lower lows (LL) or higher highs (HH) before breaking the last higher low (HL) or lower high (LH).
In simpler terms:
CHoCH => A regular change in trend.
CHoCH+ => Points to a more solid change in trend.
Swing points are important because they show that a trend is continuing for the long term. When these points are broken, they tend to trigger more noticeable market reactions compared to internal points.
The main difference between internal and swing points is their role. Internal points tend to influence the main trend, while swing points suggest a strong continuation in the current trend.
Volumetric order blocks are formed when a Break Of Structure (BOS) takes place. In these cases, a bullish order block will be displayed with a green background, while a bearish one will be shown with a red background. These blocks reveal where institutional players initiate their positions. We can leverage this information for potential entry points or take-profit levels, especially when enough supporting confluence align, increasing the likelihood of a successful trade.
Volume serves as an additional metric that confirms the strength of these order blocks. A bullish order block accompanied by substantial bullish volume is more likely to be valid, similarly, a bearish order block paired with considerable bearish volume is more likely to hold validity. On the other hand, order blocks with low volume might lack the potency to drive price movements significantly higher or lower when interacting with them.
Liquidity wicks involve the concept of liquidation through high volume on wicks. We seek instances where the volume is above a moving average, and the wick is greater than the body by a certain threshold.
The concept involves identifying large-volume candles with prominent wicks, which could indicate potential liquidation events or even potential price continuation.
Setting the threshold to 10 will analyze wicks that are at least 10 times bigger than the body.
Highs and lows
Highs and lows from different timeframes are displayed to highlight significant support or resistance levels. These levels can play a crucial role in the market, potentially leading to substantial price movements when breached.
- Plot candle option for coloring candles
- Bar Color option for bar coloring
- Fair Value Gap
- Discount and Premium zones
- Volumetric order block activity
- Swing order blocks
- Order block filtering
- Highest/Lowest point as a source for order blocks
- Higher timeframe order blocks
- Overlapping option
- Mitigation for order blocks
- Hide Overlapping
- Overlapping Method
- Auto-update buy/sell activity
- Order block detection
- Minor order block bugs
- PHL bugs not auto-updating
- Minor bug fixes
- The Length option in the order blocks, when enabled, will always return the highest/lowest point in the range selected; if used with a lower timeframe, it will always result in the highest/lowest most recent in the current timeframe.
- If the total number of order blocks is just 1 (calculated inside the script and not just the displayed one), the metrics will show as 0% or NaN since there is nothing to compare.
- Volume detection
- Auto-adjust multi-timeframe
Improved Market Structure
- Dynamic market structure points
- Auto coloring mode
- Improved swing detection point
- Added trend coloring mode
- Improved FVG
- Added OG and VI
- Fixed bugs memory
- Patterns: Accumulation and Distribution Zone
- MTF Scanner table for market structure
- OG and VI
- EQL and EQH
- Added bottom logo
- Fixed coloring
- Improved Equilibrium Zone
- Added range to Equilibrium Zone
- Fixed bugs
Re-added swing pivot low/high
Removed overlapping line in the market structure
Minor bugs fix
- Alert for price entering in Order Block
- Added Volume % in Premium and Discount Zone
- Added Positioning for Order Blocks
- Border for Swing Order Blocks
- Premium / Discount Zone not updating
- Incorrect Volume % displayed in Volumetric Order Blocks
- Reverted BREAK and CHANGE to BOS and CHoCH
All scripts & content provided by StratifyTrade are for informational & educational purposes only.
Zgodnie z prawdziwym duchem TradingView, autor tego skryptu opublikował go jako open-source, aby traderzy mogli go zrozumieć i zweryfikować. Brawo dla autora! Możesz używać go za darmo, ale ponowne wykorzystanie tego kodu w publikacji jest regulowane przez Dobre Praktyki. Możesz go oznaczyć jako ulubione, aby użyć go na wykresie.
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