This Pine Script-based indicator is a comprehensive tool designed for advanced technical analysis and decision-making in trading. It combines multiple features such as Supply and Demand Zones, EMA-based trend detection, breakout confirmations, candlestick patterns, multi-timeframe analysis, and various filters to identify high-probability trading opportunities. It is specifically tailored for traders aiming to enhance their strategy by leveraging key market dynamics.
Key Features: Supply and Demand Zones:
Automatically detects and plots supply and demand zones using price action patterns. Highlights fresh and tested zones with customizable colors and labels. Dynamic deletion of invalidated zones to keep the chart clean and relevant. Breakout Detection:
Detects breakouts using ATR, standard deviation, or linear regression. Alerts for upward and downward breakouts. Customizable breakout settings, including slope multiplier and lookback period. Trend Analysis:
Uses EMA (Exponential Moving Average) crossovers to detect trend changes. Supports multi-timeframe EMA confirmation. Identifies consolidation areas using ATR-based filters. Multi-Timeframe Analysis:
Analyzes trends across multiple timeframes. Displays a gradient-based visualization for trend strength. Includes a dashboard table showing trends on all selected timeframes. Signal Filters:
1. Volume Confirmation: Usage: When a price breaks out of a range, traders check if the volume is significantly higher than average. If yes, it confirms the breakout's validity.
2. Candlestick Patterns: Usage: Traders use patterns like the "bullish engulfing" at support levels to initiate long positions, expecting an upward move. If a "shooting star" appears after a price rise, it might be taken as a signal to sell or short, anticipating a reversal.
3. Relative Strength Index (RSI): Usage: When the RSI falls below 30, traders might see this as a buying opportunity, expecting the price to rebound. If RSI exceeds 70, it could signal to sell or prepare for a potential price drop.
4. Moving Average Convergence Divergence (MACD): Usage: A bullish signal is generated when the MACD line crosses above the signal line, suggesting a buy. Conversely, a bearish signal comes from the MACD line crossing below the signal line, indicating a sell.
5. Bollinger Bands: Usage: Traders might buy when the price touches the lower band (indicating potentially oversold conditions) and sell when it touches the upper band (potentially overbought). A strategy could involve waiting for price to return within the bands after touching an extreme, or for a breakout when the bands start to expand after a period of contraction.
6. Average Directional Index (ADX): Usage: If ADX is rising and above 25, traders might consider following the trend (buying in an uptrend or selling in a downtrend). If ADX is falling or below 20, it indicates a weak or non-existent trend, suggesting traders might avoid trend-following strategies or employ range-bound strategies instead.
7. Heikin-Ashi Candles: Usage: Traders use Heikin-Ashi for clearer trend visualization. A series of hollow candles (indicating an uptrend) might prompt buying until a filled candle appears, signaling a potential trend reversal or pause.
Avoiding Signals During Consolidation or Outside Active Sessions: Usage: Using this filter will eliminate the signals in sideways market.
Delay Confirmation Logic for Better Accuracy: Usage: Rather than reacting to an initial signal, traders might wait for one or more additional confirmations. For example, after spotting a bullish candlestick pattern, wait for: The next candle to close higher, Volume to confirm the move,
Buy/Sell Signals: Plots Buy and Sell signals based on Complex Algorithms and other filters. Fully customizable signal logic for improved adaptability.
Delta Volume Analysis: Calculates delta volume to ensure enough buy sell strenght and visualizes it on the chart. Displays trends in buyer and seller volume surges.
Gradient-based candle coloring to represent trend direction and strength.
A clear and interactive trend dashboard for quick insights.
Customizable Settings: Supply/Demand Zone Colors and Styles: Choose between fresh and tested zones with adjustable borders. Breakout and Trendline Settings: Modify slope calculation method, line colors, and widths. Filters and Indicators: Enable or disable filters such as volume, candlestick patterns, and MACD. Multi-Timeframe Settings: Select up to five timeframes for analysis. Alerts: Set alerts for breakout signals and trend changes.
Use Case Scenarios: Intraday Trading: Leverage demand and supply zones along with breakout signals for precise entries and exits. Swing Trading: Analyze multi-timeframe trends to align with higher timeframe market conditions. Scalping: For quick decision-making. Volume Analysis: Identify periods of high buyer/seller activity using delta volume insights.
How to Use: Load the Indicator: Add it to your TradingView chart and configure inputs as per your trading strategy.
Analyze Zones: Observe fresh and tested supply/demand zones for potential entry and exit points.
Check Trends: Use the gradient candles and trend dashboard for directional bias. Filter Signals: Enable filters to ensure quality signals aligned with your trading style. Act on Alerts: Respond to breakout and trend change alerts for timely action.
Note: This script is for educational purposes and does not provide direct financial advice. Always backtest and validate the indicator in a demo environment before live trading.
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Instrukcje autora
″To gain access to this script, please send a request through TradingView, specifying your requirement and purpose of using the indicator. Access will be granted after review. For support and guidance, you can reach out via TradingView messages.
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