Market Structure Based Stop LossMarket Structure Based Dynamic Stop Loss
Introduction
The Market Structure Based Stop Loss indicator is a strategic tool for traders designed to be useful in both rigorous backtesting and live testing, by providing an objective, “guess-free” stop loss level. This indicator dynamically plots suggested stop loss levels based on market structure, and the concepts of “interim lows/highs.”
It provides a robust framework for managing risk in both long and short positions. By leveraging historical price movements and real time market dynamics, this indicator helps traders identify quantitatively consistent risk levels while optimizing trade returns.
Legend
This indicator utilizes various inputs to customize its functionality, including "Stop Loss Sensitivity" and "Wick Depth," which dictate how closely the stop loss levels hug the price's highs and lows. The stop loss levels are plotted as lines on the trading chart, providing clear visual cues for position management. As seen in the chart below, this indicator dynamically plots stop loss levels for both long and short positions at every point in time.
A “Stop Loss Table” is also included, in order to enhance precision trading and increase backtesting accuracy. It is customizable in both size and positioning.
Case Study
Methodology
The methodology behind this indicator focuses on the precision placement of stop losses using market structure as a guide. It calculates stop losses by identifying the "lowest close" and the corresponding "lowest low" for long setups, and inversely for short setups. By adjusting the sensitivity settings, traders can tweak the indicator's responsiveness to price changes, ensuring that the stop losses are set with a balance between tight risk control and enough room to avoid premature exits due to market noise. The indicator's ability to adapt to different trading styles and time frames makes it an essential tool for traders aiming for efficiency and effectiveness in their risk management strategies.
An important point to make is the fact that the stop loss levels are always placed within the wicks. This is important to avoid what can be described as a “floating stop loss”. A stop loss placed outside of a wick is susceptible to an outsized degree of slippage. This is because traders always cluster their stop losses at high/low wicks, and a stop loss placed outside of this level will inevitably be caught in a low liquidity cascade or “wash-out.” When price approaches a cluster of stop losses, it is highly probable that you will be stopped out anyway, so it is prudent to attempt to be the trader who gets stopped out first in order to avoid high slippage, and losses above what you originally intended.
// For long positions: stop-loss is slightly inside the lowest wick
float dynamic_SL_Long = lowestClose - (lowestClose - lowestLow) * (1 - WickDepth)
// For short positions: stop-loss is slightly inside the highest wick
float dynamic_SL_Short = highestClose + (highestHigh - highestClose) * (1 - WickDepth)
The percentage depth of the wick in which the stop loss is placed is customisable with the “Wick Depth” variable, in order to customize stop loss strategies around the liquidity of the market a trader is executing their orders in.
Candlestick analysis
Supertrend (Buy/Sell) With TP & SLSupertrend (Buy/Sell) with TP & SL: An Enhanced Trading Tool
This Pine Script indicator combines the popular Supertrend indicator with multiple take-profit (TP) and stop-loss (SL) levels, providing traders with a comprehensive visual aid for potential entries, exits, and risk management.
Originality
Buffer Zones for Precision: Instead of relying solely on the Supertrend line, this script incorporates buffer zones around it. This helps filter out false signals, especially in volatile markets, leading to more accurate buy/sell signals.
Flexible Stop-Loss: Offers the choice between a fixed or trailing stop-loss, allowing traders to tailor their risk management approach based on their preferences and market conditions.
Multiple Take-Profit Levels: Provides three potential take-profit levels, giving traders the flexibility to secure profits at different stages of a trend.
Heikin Ashi Candles & VWAP: Incorporates Heikin Ashi candles for smoother trend visualization and adds a VWAP line for potential support/resistance levels.
Clear Table Display: Presents key information like Stop Loss and Take Profit levels in a user-friendly table, making it easier to track trade targets.
How It Works
Supertrend Calculation: The Supertrend is calculated using ATR (Average True Range) to gauge market volatility. The script then creates buffer zones around the Supertrend line for refined signal generation.
Buy/Sell Signals:
Buy: When the close price crosses above the upper buffer zone, indicating a potential uptrend.
Sell: When the close price crosses below the lower buffer zone, suggesting a potential downtrend.
Take Profit & Stop Loss:
Take Profits: Three TP levels are calculated based on ATR and a customizable profit factor.
Stop Loss: The stop-loss can be set as either a fixed value based on ATR or as a trailing stop-loss that dynamically adjusts to lock in profits.
How To Use
Add the Indicator: Search for "Supertrend (Buy/Sell) With TP & SL" in the TradingView indicators list and add it to your chart.
Customize Inputs: Adjust parameters like ATR Period, Factor, Take Profit Factor, Stop Loss Factor, Stop Loss Type, etc., based on your trading style and preferences.
Interpret Signals: Look for buy signals when the price crosses above the upper buffer and sell signals when it crosses below the lower buffer.
Manage Risk: Use the plotted Take Profit and Stop Loss levels to manage your risk and potential rewards.
Concepts
Supertrend: A trend-following indicator that helps identify the direction of the prevailing trend.
ATR (Average True Range): A measure of market volatility.
Buffer Zones: Used to filter out false signals by creating a zone around the Supertrend line.
Trailing Stop Loss: A dynamic stop-loss that moves with the price to protect profits.
Heikin Ashi: A type of candlestick chart designed to filter out market noise and make trends easier to identify.
VWAP (Volume Weighted Average Price): An indicator that shows the average price at which a security has traded throughout the day, based on both volume and price.
Important Note: This script is for educational and informational purposes only. Backtest thoroughly and use with caution in live trading. Always manage your risk appropriately.
Big Candle HighlighterBig Candle Highlighter
The Big Candle Highlighter indicator highlights significant candles based on their percentage difference between the open and close prices. This tool helps traders quickly identify candles with substantial price movements, which can be crucial for spotting key price action, potential reversals, or significant market events.
Key Features:
Percentage Threshold : Customize the minimum percentage difference from open to close required to mark a candle as "big."
Bullish and Bearish Markers : Bullish big candles are marked with a label below the bar in green, while bearish big candles are marked with a label above the bar in red.
Background Highlighting : Optionally highlight the background of big candles for better visual emphasis.
Inputs:
Percentage Threshold (% ): Set the percentage threshold to define what constitutes a "big" candle. For example, a threshold of 2.0 means that only candles with a 2% or more difference between open and close will be marked.
Color for Big Bullish Candle : Choose the color for labeling and highlighting bullish big candles.
Color for Big Bearish Candle : Choose the color for labeling and highlighting bearish big candles.
Usage :
This indicator is useful for traders looking to identify significant price movements and potential trading opportunities. By focusing on candles that show substantial changes from open to close, you can better understand market dynamics and make more informed trading decisions.
Add the Big Candle Marker to your charts to enhance your technical analysis and stay ahead of market trends.
Engulfing Candles with Sweep by AydmaxxEngulfing Candles with Sweep Indicator
The "Engulfing Candles with Sweep" indicator identifies bullish and bearish engulfing candles that exhibit liquidity sweeps. It marks these significant candlestick patterns and draws a 50% Fibonacci retracement line from the high to low of the engulfing candle. The indicator helps traders spot potential reversal points where large market players might be accumulating or distributing positions.
Key Features:
Bullish Engulfing Candle with Sweep:
Identifies when a bullish candle (closing higher than it opened) engulfs the previous bearish candle (closing lower than it opened).
Ensures that the bullish candle’s low is lower than the previous candle’s low, indicating a sweep of liquidity.
Marks the identified bullish candle with a symbol below the candlestick.
Draws a 50% Fibonacci retracement line from the high to the low of the bullish engulfing candle.
Bearish Engulfing Candle with Sweep:
Identifies when a bearish candle (closing lower than it opened) engulfs the previous bullish candle (closing higher than it opened).
Ensures that the bearish candle’s high is higher than the previous candle’s high, indicating a sweep of liquidity.
Marks the identified bearish candle with a symbol above the candlestick.
Draws a 50% Fibonacci retracement line from the high to the low of the bearish engulfing candle.
Customizable Settings:
Fibonacci Line Color: Allows customization of the Fibonacci retracement line color for both bullish and bearish engulfing candles.
Fibonacci Line Style: Provides options to choose the line style (solid, dotted, dashed).
Fibonacci Line Width: Enables adjustment of the line width for better visibility.
Toggle Fibonacci Lines: Option to enable or disable the display of Fibonacci retracement lines.
How to Use:
Apply the indicator to your chart.
Look for symbols below or above the candlesticks, indicating bullish or bearish engulfing candles with liquidity sweeps.
Utilize the 50% Fibonacci retracement lines to identify potential support or resistance levels.
Benefits:
Helps in identifying key reversal patterns in the market.
Provides visual aids with Fibonacci retracement levels for potential entry and exit points.
Enhances trading decisions by confirming engulfing patterns with liquidity sweeps.
Engulfing Candle Indicator with SweepTHIS IS ENGULFED SWEEP CANDLE
This TradingView indicator identifies and highlights bullish and bearish engulfing candlestick patterns with an additional condition: the recent candle must "sweep" the high or low of the previous candle. This refined approach helps to confirm the strength of the engulfing pattern by ensuring that the current candle extends beyond the previous candle's range.
Features:
- **Bullish Engulfing Detection**: Identifies a bullish engulfing pattern where the current candle fully engulfs the previous candle's body, and the low of the current candle is below the low of the previous candle.
- **Bearish Engulfing Detection**: Identifies a bearish engulfing pattern where the current candle fully engulfs the previous candle's body, and the high of the current candle is above the high of the previous candle.
- **Visual Indicators**: Marks bullish engulfing patterns with a green label below the bar and bearish engulfing patterns with a red label above the bar.
- **Alert Conditions**: Provides customizable alerts for detected patterns, enabling you to be notified when a bullish or bearish engulfing pattern with a sweep is detected.
#### Usage:
1. **Apply to Chart**: Add the indicator to your chart to start detecting engulfing patterns with sweep conditions.
2. **Set Alerts**: Configure alerts to receive notifications when the indicator identifies a bullish or bearish engulfing pattern with a sweep.
#### Ideal For:
- Traders looking for additional confirmation in engulfing patterns.
- Users who want to incorporate price action signals into their trading strategy.
By incorporating the sweep condition, this indicator aims to enhance the reliability of the engulfing patterns and provide more actionable signals.
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Feel free to adjust the description based on any specific details or features you want to highlight. If there are any additional features or details about the indicator that should be included, let me know!
Flat Market Scanner [CHE]Flat Market Scanner
Introduction
Welcome to our presentation on the "Flat Market Scanner" for TradingView. This innovative indicator is designed to identify and highlight periods of sideways market movement, providing traders with crucial insights for making informed decisions. Sideways phases are characterized by alternating up and down movements within a narrow price range, lacking a clear directional trend.
The Idea Behind the Flat Market Scanner
The core concept of the Flat Market Scanner is to detect and visualize flat (sideways) market conditions. In such periods, the price of an asset does not exhibit significant upward or downward movements, remaining within a narrow range. These flat markets are often characterized by low volatility and can be challenging for trend-following traders.
How It Works:
1. RSI Analysis: The indicator utilizes the Relative Strength Index (RSI) to measure the speed and change of price movements.
2. Cumulative Test Variable: It calculates the cumulative sum of positive and negative price changes to create a test variable.
3. Flat Period Detection: By examining the highest and lowest values of the test variable over a specified period (`flatPeriod`), the indicator determines if the market is flat.
4. Consecutive Flat Periods: It tracks consecutive periods where the market is flat to identify sustained sideways movement.
5. Visualization: When a flat market is detected, a colored box is drawn on the chart to highlight the flat period. The color of the box indicates the current RSI trend.
Why Flat Markets Pose Risks
Flat markets can present several risks and challenges for traders:
1. Reduced Profit Opportunities: In a flat market, price movements are minimal, leading to limited profit opportunities for traders who rely on significant price swings.
2. False Signals: Sideways markets often generate false signals for technical indicators, leading to potential losses if traders misinterpret these signals as trends.
3. Increased Costs: Frequent trading in a flat market can result in higher transaction costs, eating into potential profits.
4. Psychological Stress: The lack of clear direction can cause frustration and stress, leading traders to make impulsive decisions that deviate from their trading strategy.
Benefits of the Flat Market Scanner
- Clarity: The Flat Market Scanner provides visual clarity on when the market is flat, helping traders avoid entering positions during low-volatility periods.
- Risk Management: By identifying flat periods, traders can better manage their risk and allocate their capital to more promising market conditions.
- Strategic Planning: Understanding when the market is flat allows traders to adjust their strategies, such as focusing on range-bound trading techniques or waiting for breakout opportunities.
Conclusion
The Flat Market Scanner is an essential tool for traders seeking to navigate the complexities of market conditions. By effectively identifying and visualizing flat markets, this indicator empowers traders to make smarter decisions, manage risks, and optimize their trading strategies. Embrace the power of the Flat Market Scanner and enhance your trading experience on TradingView.
Thank you for your attention. Happy trading!
Best regards Chervolino
Last Candle OHLC (Ticks or Points)What the Code Does
1. **Draws Lines and Labels**:
- It draws lines on your chart to show the high, low, open, and close prices from the previous period (like the previous day or week).
- It also labels these lines with numbers that tell you how far the current price is from these levels.
2. **Shows Price Movement**:
- You can see how far the price has moved from these levels in terms of small price changes (ticks) or larger units (points).
- This helps you understand price movements and potential levels of support or resistance.
3. **Customizable**:
- You can choose whether to show these lines and labels, and you can select if you want to see the movement in ticks or points.
- The lines can extend into the future on your chart to help you anticipate where prices might be in the coming days.
### How It’s Useful:
1. **Identify Key Levels**:
- It helps you spot important price levels from past periods, which can act as support or resistance.
2. **Understand Price Movement**:
- You get a visual sense of how much the price has moved from key levels, which can help you gauge market volatility.
3. **Plan Trades**:
- By seeing where the price has been and how it has moved, you can better plan your trades, like deciding where to enter or exit based on these levels.
4. **Flexible for Different Markets**:
- It works across various markets, like stocks, futures, and forex, adjusting to the specific characteristics of each instrument.
In short, this tool helps you visualize and understand past price movements and levels on your chart, aiding in your trading decisions.
Internal/External Market Structure [UAlgo]The "Internal/External Market Structure " indicator is a tool designed to identify and visualize internal and external market structure based on swing highs and lows. It helps traders understand short-term (internal) and long-term (external) price behavior.
🔶 What are ChoCH and BoS?
Change of Character (ChoCH)
Change of character refers to the reversal of market trend either from bullish to bearish or bearish to bullish. ChoCH is also a break of market structure but in opposite direction.
If market is in bullish trend but it breaks it previous (higher) low and makes a lower low, it will be termed a “bearish change of character” as price changed its trend from bullish to bearish.
Like wise if price is in bearish trend and it breaks its previous (lower) high making a higher high it will be marked as “bullish change of character” as price changed its trend from bearish to bullish.
Break of Structure (BoS)
When price breaks its structure in direction of previous trend its called break of structure (BoS). So its a trend continuation pattern.
As you know in bullish trend price makes higher highs. Each time when price break a previous high and marks a new high its known as bullish break of structure.
But in bearish trend price makes lower lows so every time when price breaks previous low and makes a new low it is called as bearish break of structure.
🔶 Key Features
Internal Swing Length: Allowing for fine-tuning of sensitivity to smaller, more frequent market movements.
External Swing Length: Focusing on capturing broader market trends.
The indicator differentiates between internal and external market structures, using different styles and colors to represent each. Internal structures are shown with solid lines, while external structures use dashed lines, providing clear visual cues.
Internal Market Structure:
The internal market structure focuses on shorter-term swings and is useful for identifying minor trend changes and short-term price movements. Breaks of internal swing highs or lows can indicate potential changes in the market's direction or momentum. The labels "CHoCH" and "BoS" help distinguish between changes in character and break of structure events, respectively.
External Market Structure:
The external market structure captures larger, more significant market moves. It is particularly useful for identifying major trend changes and key support and resistance levels. The dashed lines and corresponding labels "CHoCH+" and "BoS+" indicate more substantial shifts in market sentiment.
For BoS (Break of Structure):
For ChoCH (Change of Character):
🔶 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.
nPOC Levels by Tyler### Explanation of the Pine Script
This Pine Script identifies and displays weekly naked Points of Control (nPOCs) on a TradingView chart. An nPOC represents a Point of Control (POC) from a previous week that has not been revisited by price action in subsequent weeks. These nPOCs are extended to the right as horizontal lines, indicating potential support or resistance levels.
#### Script Overview
1. **Indicator Declaration:**
```pinescript
//@version=5
indicator("Weekly nPOCs", overlay=true)
```
- The script is defined as a version 5 Pine Script.
- The `indicator` function sets the script's name ("Weekly nPOCs") and specifies that the indicator should be overlaid on the price chart (`overlay=true`).
2. **Function to Calculate POC:**
```pinescript
f_poc(_hl2, _vol) =>
var float vol_profile = na
if (na(vol_profile))
vol_profile := array.new_float(100, 0.0)
_bin_size = (high - low) / 100
for i = 0 to 99
if _hl2 >= low + i * _bin_size and _hl2 < low + (i + 1) * _bin_size
array.set(vol_profile, i, array.get(vol_profile, i) + _vol)
max_volume = array.max(vol_profile)
poc_index = array.indexof(vol_profile, max_volume)
poc_price = low + poc_index * _bin_size + _bin_size / 2
poc_price
```
- The function `f_poc` calculates the Point of Control (POC) for a given period.
- It takes two parameters: `_hl2` (the average of the high and low prices) and `_vol` (volume).
- A volume profile array (`vol_profile`) is initialized to store volume data across different price bins.
- The price range between the high and low is divided into 100 bins (`_bin_size`).
- The function iterates over each bin, accumulating the volumes for prices within each bin.
- The bin with the maximum volume is identified as the POC (`poc_price`).
3. **Variables to Store Weekly Data:**
```pinescript
var float poc = na
var float prev_poc = na
var line poc_lines = na
if na(poc_lines)
poc_lines := array.new_line(0)
```
- `poc` stores the current week's POC.
- `prev_poc` stores the previous week's POC.
- `poc_lines` is an array to store lines representing nPOCs. The array is initialized if it is `na` (not initialized).
4. **Calculate Weekly POC:**
```pinescript
is_new_week = ta.change(time('W')) != 0
if (is_new_week)
prev_poc := poc
poc := f_poc(hl2, volume)
if not na(prev_poc)
line new_poc_line = line.new(x1=bar_index, y1=prev_poc, x2=bar_index + 100, y2=prev_poc, color=color.red, width=2)
label.new(x=bar_index, y=prev_poc, text="nPOC", style=label.style_label_down, color=color.red, textcolor=color.white)
array.push(poc_lines, new_poc_line)
```
- `is_new_week` checks if the current bar is the start of a new week using the `ta.change(time('W'))` function.
- If it's a new week, the previous week's POC is stored in `prev_poc`, and the current week's POC is calculated using `f_poc`.
- If `prev_poc` is not `na`, a new line (`new_poc_line`) representing the nPOC is created, extending it to the right (for 100 bars).
- A label is created at the `prev_poc` level, marking it as "nPOC".
- The new line is added to the `poc_lines` array.
5. **Remove Old Lines:**
```pinescript
if array.size(poc_lines) > 52
line.delete(array.shift(poc_lines))
```
- This section ensures that only the last 52 weeks of nPOCs are kept to avoid cluttering the chart.
- If the `poc_lines` array contains more than 52 lines, the oldest line is deleted using `array.shift`.
6. **Plot the Current Week's POC as a Reference:**
```pinescript
plot(poc, title="Current Weekly POC", color=color.blue, linewidth=2, style=plot.style_line)
```
- The current week's POC is plotted as a blue line on the chart for reference.
#### Summary
This script calculates and identifies weekly Points of Control (POCs) and marks them as nPOCs if they remain untouched by subsequent price action. These nPOCs are displayed as horizontal lines extending to the right, providing traders with potential support or resistance levels. The script also manages the number of lines plotted to maintain a clear and uncluttered chart.
High Low Lines (500 candle 5min)This TradingView script is designed to visualize the highest high and the lowest low from the previous 576 candles on the chart. It draws horizontal lines representing these values and updates them at a specific time each day.
Price GapsThis indicator highlights bullish and bearish gaps in price movement. You can customize the colors, transparency, border width, and label size. The script detects gaps where the current low is higher than the previous high (bullish) or the current high is lower than the previous low (bearish). It then draws boxes around these gaps and labels them with their size. The indicator updates the boxes as long as the gaps remain open and removes them once they close. You can also choose the timeframe for the gaps detection.
MA15, MA50 with Support/Resistance, CHoCH, Trend, and Entry/Exita comprehensive indicator that includes moving averages (MA), support and resistance levels, Change of Character (CHoCH) detection, trend identification, and entry/exit signals. Here's a breakdown of its components:
Input Parameters:
ma15_length and ma50_length: Lengths for the moving averages.
lookback: Period for detecting support and resistance levels.
Moving Averages:
ma15 and ma50 are simple moving averages with lengths defined by the user.
Support and Resistance Levels:
The script identifies swing highs and lows to update support and resistance levels.
These levels are plotted using extended lines for visualization.
Change of Character (CHoCH):
CHoCH up is detected when ma15 crosses above ma50.
CHoCH down is detected when ma15 crosses below ma50.
Corresponding signals are plotted on the chart.
Trend Identification:
An uptrend is confirmed when ma15 crosses above ma50 and the close price is above ma50.
A downtrend is confirmed when ma15 crosses below ma50 and the close price is below ma50.
Background colors are used to highlight uptrend (green) and downtrend (red).
Entry and Exit Signals:
Buy signals are generated when CHoCH up occurs, and the price pulls back to support during an uptrend.
Sell signals are generated when CHoCH down occurs, and the price pulls back to resistance during a downtrend.
These signals are plotted on the chart.
Alerts:
Alerts are set up to notify the user when a buy or sell signal is detected.
Bollinger Bands & SuperTrend Strategy by Tradinggg HubThis TradingView Pinescript combines Bollinger Bands and a custom SuperTrend indicator to generate trading signals.
Bollinger Bands:
Bollinger Bands are a popular volatility indicator that consists of three lines:
* Basis: A simple moving average (SMA) of the price (default length is 20 periods).
* Upper Band: The basis plus a standard deviation multiplier (default is 2).
* Lower Band: The basis minus a standard deviation multiplier (default is 2).
These bands expand and contract as volatility increases or decreases, helping traders identify potential overbought and oversold conditions.
SuperTrend:
The SuperTrend indicator is a trend-following tool that aims to identify the direction of the price trend. It uses the Average True Range (ATR) to determine the volatility of the market and sets levels above and below the price to indicate potential trend reversals.
How the Strategy Works:
1. Bollinger Bands: The script plots Bollinger Bands around the price, providing insight into the current volatility and potential overbought or oversold conditions.
2. SuperTrend: The script calculates and plots a custom SuperTrend indicator based on user-defined ATR period and factor. It helps visualize the current trend direction and potential trend reversals.
3. Buy Signals: A buy signal is generated when the following conditions are met:
- The price crosses above the SuperTrend line.
- The price is above the Bollinger Bands basis line.
4. Sell Signals: A sell signal is generated when one of the following conditions is met:
- The price crosses below the SuperTrend line.
- The price is below the Bollinger Bands basis line.
Key Parameters:
* Bollinger Bands Length: The number of periods used to calculate the basis (SMA) of the Bollinger Bands.
* Bollinger Bands Multiplier: The factor used to calculate the standard deviation for the upper and lower bands.
* SuperTrend ATR Period: The number of periods used to calculate the Average True Range (ATR) for the SuperTrend.
* SuperTrend Factor: The factor used to determine the distance of the SuperTrend levels from the price.
Customization:
Feel free to experiment with different parameter values to optimize the strategy for your preferred asset and time frame.
Disclaimer:
This script is intended for educational and informational purposes only. It should not be considered as financial advice. Always conduct thorough research and consider your own risk tolerance before making any trading decisions.
Volumetric Volatility Blocks [UAlgo]The Volumetric Volatility Blocks indicator is designed to identify significant volatility blocks based on price and volume data. It utilizes a combination of the Average True Range (ATR) and Simple Moving Average (SMA) to determine the volatility level and identify periods of heightened market activity. The indicator highlights these volatility blocks, providing traders with visual cues for potential trading opportunities. It differentiates between bullish and bearish volatility by analyzing price movement and volume, offering a nuanced view of market sentiment. This tool is particularly useful for traders looking to capitalize on periods of high volatility and momentum shifts.
🔶 Key Features
Volatility Measurement Length: Controls the period used to calculate the ATR.
Smooth Length of Volatility: Defines the period for the SMA used to smooth the ATR.
Multiplier of SMA: Sets the minimum threshold for the ATR to be considered a "high volatility" block.
Show Last X Volatility Blocks: Determines how many of the most recent volatility blocks are displayed on the chart.
Mitigation Method: Choose between "Close" or "Wick" price to filter volatility blocks based on price action. This helps avoid highlighting blocks broken by the chosen price level.
Volume Info: Displaying the volume associated with each block.
Up/Down Block Color: Sets the color for bullish and bearish volatility blocks.
🔶 Usage
The Volumetric Volatility Blocks indicator visually represents periods of high volatility with blocks on the chart. Green blocks indicate bullish volatility, while red blocks indicate bearish volatility.
Bullish Volatility Blocks: When the ATR surpasses the smoothed ATR multiplied by the set multiplier, and the price closes higher than it opened, a bullish block is formed. These blocks are generally used to identify potential buying opportunities as they indicate upward momentum.
Bearish Volatility Blocks: Conversely, bearish blocks form under the same conditions, but when the price closes lower than it opened. These blocks can signal potential selling opportunities as they highlight downward momentum.
Volume Information: Each block can display volume data, providing insight into the strength of the market movement. The percentage shown on the block indicates the relative volume contribution of that block, helping traders assess the significance of the volatility.
The volume percentages in the Volumetric Volatility Blocks indicator are calculated based on the total volume of the most recent volatility blocks. For each of the most recent volatility blocks, the percentage of the total volume is calculated by dividing the block's volume by the total volume:
🔶 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.
MA Crossover StrategyIt is very simple strategy, in this you will will whenever MA 7 crossover MA 30 you will get the Buy and Sell signal. Best time frame to test this strategy is 4 hour and 1 day. Also you can try 1 hour and 15 min time frame
Candle Body Percentage IndicatorThe Candle Body Percentage Indicator is a custom TradingView script designed to display the percentage of the candle's body relative to the full candle length for each bar on the chart. This indicator helps traders quickly assess the strength of price movements by comparing the body (the range between the open and close prices) to the total range of the candle (the range between the high and low prices).
Features:
Body Length Calculation: The indicator calculates the absolute difference between the open and close prices to determine the body length of the candle.
Full Length Calculation: It also calculates the total length of the candle by finding the difference between the high and low prices.
Body Percentage Calculation: The body length is then divided by the full length of the candle and multiplied by 100 to get the body percentage.
Label Display: For each candle, the indicator places a label above the high of the candle showing the body percentage. The label includes the percentage value and a "%" sign for clarity.
Candlestick Reversal SignalsTitle: Candlestick Reversal Signals
This Pine Script indicator is designed to identify and plot signals for two key candlestick reversal patterns: Bullish and Bearish Engulfing patterns, as well as Bullish and Bearish Harami patterns. These patterns are widely recognized for their ability to indicate potential trend reversals in the market, providing traders with valuable insights for making informed trading decisions.
Features:
• Bullish Engulfing Pattern:
• Conditions: This pattern is identified when the current candle’s close is higher than the previous candle’s open, and the current candle’s open is lower than the previous candle’s close. Additionally, the current candle’s close must be higher than the previous candle’s close, and the current candle’s open must be lower than the previous candle’s open.
• Signal: When a Bullish Engulfing pattern is detected, a green label is plotted below the relevant bar, indicating a potential upward reversal.
• Bearish Engulfing Pattern:
• Conditions: This pattern is identified when the current candle’s close is lower than the previous candle’s open, and the current candle’s open is higher than the previous candle’s close. Additionally, the current candle’s close must be lower than the previous candle’s close, and the current candle’s open must be higher than the previous candle’s open.
• Signal: When a Bearish Engulfing pattern is detected, a red label is plotted above the relevant bar, indicating a potential downward reversal.
• Bullish Harami Pattern:
• Conditions: This pattern is identified when the previous candle is a bearish candle (open higher than close), and the current candle is a bullish candle (close higher than open) that is contained within the body of the previous bearish candle.
• Signal: When a Bullish Harami pattern is detected, a green label is plotted below the relevant bar, indicating a potential upward reversal.
• Bearish Harami Pattern:
• Conditions: This pattern is identified when the previous candle is a bullish candle (open lower than close), and the current candle is a bearish candle (close lower than open) that is contained within the body of the previous bullish candle.
• Signal: When a Bearish Harami pattern is detected, a red label is plotted above the relevant bar, indicating a potential downward reversal.
Usage:
To use this script, simply add it to your TradingView chart. The script will automatically highlight the Bullish and Bearish Engulfing patterns, as well as Bullish and Bearish Harami patterns, by plotting green and red labels on the chart. These visual signals make it easy to spot potential reversal points, helping traders to identify and capitalize on trading opportunities.
Example:
• When you see a green “Bullish Engulfing” label below a candlestick, it suggests that the market might reverse upwards, signaling a potential buy opportunity.
• Conversely, a red “Bearish Engulfing” label above a candlestick suggests a potential downward reversal, signaling a potential sell opportunity.
• A green “Bullish Harami” label below a candlestick also indicates a potential upward reversal.
• A red “Bearish Harami” label above a candlestick indicates a potential downward reversal.
This indicator is a valuable addition to any trader’s technical analysis toolkit, providing clear and actionable signals based on well-established candlestick patterns. By incorporating these reversal patterns into your analysis, you can enhance your trading strategy and improve your decision-making process.
The Strat with TFC & Combo DashIntroduction:
This indicator is designed to implement "The Strat" trading strategy combined with a Timeframe Continuity Dashboard and Combo Dashboard. The Strat is a robust trading methodology that relies on price action and candlestick formations to make trading decisions. This script helps traders to identify specific bar types such as Inside Bars (1), Continuation Up Bars (2u), Continuation Down Bars (2d), and Outside Bars (3) across multiple timeframes. It visually highlights these bar types on the chart and provides a comprehensive dashboard displaying the current state of the selected timeframes.
Key Features:
Timeframe Continuity Dashboard: Displays arrows and bar types for up to four selected timeframes.
Strat Combos Dashboard: Shows the previous and current bar types to easily spot trading setups.
Customizable Colors and Labels: Options to personalize the colors and labels for Inside and Outside bars.
Adjustable Dashboard Position and Size: Allows users to set the location and size of the dashboard for better visual alignment.
Inputs:
TFC & Combo Dash Configuration:
Show TFC & Combo Dashboard: Toggle to display the dashboard.
Show Strat Combos: Toggle to display Strat combo setups.
Location: Dropdown to select the position of the dashboard on the chart.
Size: Dropdown to choose between desktop and mobile view.
Timeframe Selection:
Timeframe 1: Primary timeframe for analysis.
Timeframe 2: Secondary timeframe for analysis.
Timeframe 3: Tertiary timeframe for analysis.
Timeframe 4: Quaternary timeframe for analysis.
Candle Visuals:
Show Inside Bar Label: Option to show label instead of color for Inside bars.
Inside Bar Color: Color picker for Inside bars.
Show Outside Bar Label: Option to show label instead of color for Outside bars.
Outside Bar Color: Color picker for Outside bars.
TFC & Combo DashboardFunctions:
The script fetches values for the selected timeframes and computes the bar types and corresponding visual elements such as arrows and background colors. The dashboard displays this information in a tabular format for easy reference during trading.
The dashboard is dynamically created based on user input for position and size. It shows the selected timeframes, bar types, and combo setups, providing a quick overview of the market conditions across multiple timeframes.
Timeframes: Displays the four user chosen timeframes that the dashboard fetches data from.
Arrow and Color: Functions to set the arrow direction and color based on current bar action. Green and up arrow: price is above it's candle open.
Red and down arrow: price is below it's candles open.
Background Color: Functions to set background color based on the bar type. White for an outside bar(3), yellow for an inside bar(1), no color for a continuation bar(2).
Strat Candle Combos: Functions to determine if the bar is an Inside(1), Continuation Up(2u), Continuation Down(2d), or Outside bar(3). Shows the previous bar and the current bar for the user's chosen timeframes.
Candle Visuals:
The script plots labels and colors for Inside and Outside bars based on user preferences. It helps in quickly identifying potential trading setups on the chart.
Conclusion:
We believe in providing user-friendly tools to help speed up traders technical analysis and implement easy trading strategies. The Strat with TFC & Combo Dashboard is a tool to assist traders in identifying potential trading setups based on The Strat methodology; to suit the users needs and trading style.
RISK DISCLAIMER
All content, tools, scripts & education provided by Gorb Algo LLC are for informational & educational purposes only. Trading is risk and most lose their money, past performance does not guarantee future results.
Prospect Theory IndicatorProspect Theory Indicator
This indicator is designed based on Prospect Theory, which was developed by Nobel laureates Daniel Kahneman and Amos Tversky. Prospect Theory explains how people make decisions involving risk and uncertainty, highlighting their tendency to value potential losses more than equivalent gains and their focus on relative gains and losses rather than absolute outcomes.
Features:
1. Reference Points: The indicator calculates and displays the highest and lowest prices over a specified period (default is 14 periods). These are the reference points used to evaluate current price movements.
2. Risk/Reward Ratio: It calculates the risk/reward ratio by comparing the current price to the reference points. The risk is defined as the distance to the lowest point, and the reward as the distance to the highest point.
3. Visual Indicators:
• Green Line: Indicates the highest reference point (High Reference Point).
• Red Line: Indicates the lowest reference point (Low Reference Point).
• Green Triangle: Displays when the reward outweighs the risk, suggesting a favorable condition for entering a trade.
• Red Triangle: Displays when the risk outweighs the reward, suggesting a cautious approach.
4. Labels: Provides real-time labels showing the risk/reward ratio, and marks the current conditions as “High Risk” or “High Reward” based on the calculated ratio.
Usage:
• Entry Signals: Use green triangles for potential buy entries when the reward is higher than the risk.
• Exit Signals: Use red triangles as a signal to review your positions, as the risk has become higher than the reward.
• Risk Management: Continuously monitor the risk/reward ratio to maintain optimal risk management in your trading strategy.
This indicator helps traders make more informed and objective decisions, mitigating the emotional biases described by Prospect Theory.
PCSPLType A Candle:
This candle is labeled "A" if its high price is higher than the high price of the previous candle, and its low price is also higher than the low price of the previous candle.
In simpler terms, the entire candle (both the top and bottom) is above the previous candle.
Type B Candle:
This candle is labeled "B" if its high price is lower than the high price of the previous candle, and its low price is also lower than the low price of the previous candle.
In simpler terms, the entire candle (both the top and bottom) is below the previous candle.
Type C Candle:
This candle is labeled "C" if its high price is higher than the high price of the previous candle, and its low price is lower than the low price of the previous candle.
In simpler terms, this candle has a higher high and a lower low compared to the previous candle, indicating a larger range or volatility.
Type D Candle:
This candle is labeled "D" if its high price is lower than the high price of the previous candle, and its low price is higher than the low price of the previous candle.
In simpler terms, this candle has a lower high and a higher low compared to the previous candle, indicating a smaller range or consolidation.
Bullish Breakout After ConsolidationDescription:
The Bullish Breakout After Consolidation Indicator is designed to help traders identify potential bullish breakout opportunities following a period of tight price consolidation. This indicator combines price action and volume analysis to signal when a stock may experience a significant upward movement.
Features:
Consolidation Range Tightness: The indicator identifies periods where the stock price consolidates within a narrow range, defined as a range less than 2% of the lowest low during the consolidation period. This tight consolidation is often a precursor to strong price movements.
Breakout Detection: Once the price breaks above the highest high of the consolidation range, and this breakout occurs after a specified number of days post-consolidation, the indicator marks it as a potential breakout opportunity.
Volume Confirmation: To avoid false breakouts, the indicator requires increased trading volume during the breakout. This ensures that the breakout is supported by substantial market activity.
Visual Cues:
Breakout Label: A "Breakout" label appears above the bar where a valid breakout occurs, making it easy to spot potential entry points.
Support and Resistance Lines: Horizontal lines plot the highest high (resistance) and lowest low (support) during the consolidation period, helping traders visualize the breakout levels.
Moving Averages: Optional 20-day and 50-day simple moving averages are plotted for additional trend confirmation.
How to Use:
Apply the Indicator: Add the indicator to your chart in TradingView to start analyzing potential breakouts.
Observe Consolidation: Look for tight consolidation periods where the price trades within a narrow range.
Identify Breakouts: Watch for breakouts where the price moves above the highest high of the consolidation range, supported by increased volume.
Confirm with Labels: The "Breakout" label will help you quickly identify valid breakout signals.
Parameters:
Consolidation Length: Number of days to consider for consolidation.
Range Percentage: Maximum percentage range for consolidation tightness.
Days After Consolidation: Number of days post-consolidation to check for the breakout.
Note: As with any trading tool, it is important to use this indicator as part of a broader trading strategy and in conjunction with other forms of analysis.
Disclaimer: This indicator is provided for educational purposes and should not be construed as financial advice. Trading involves risk and may not be suitable for all investors.
Auto Fib GOLDEN TARGET Golden Target Auto Fib Indicator
Unlock the power of automatic Fibonacci analysis with the Golden Target Auto Fib Indicator. Designed for traders who want to effortlessly incorporate Fibonacci retracement levels into their strategy, this indicator dynamically calculates and plots key Fibonacci levels based on recent price action.
Key Features:
Automatic Fibonacci Levels: Automatically determines the critical Fibonacci retracement levels using the most recent high and low over a user-defined period.
Customizable Length: Adjust the period over which the Fibonacci levels are calculated to match your trading style and market conditions.
Dynamic Plotting: Fibonacci levels are plotted in real-time, reflecting current market conditions and potential support and resistance areas.
Color-Coded Levels: Distinguishes between different Fibonacci levels with distinct colors, making it easy to identify significant price points at a glance.
Target Labels (Optional): Optionally display labels next to the Fibonacci levels to help identify potential target zones and better visualize the key levels.
How It Works:
The Golden Target Auto Fib Indicator calculates Fibonacci retracement levels based on the highest high and lowest low over a specified length. The levels plotted include key Fibonacci ratios: 23.6%, 38.2%, 61.8%, and the 100% extension, providing valuable insights into potential support and resistance areas as well as price targets.
Usage:
Adjust Settings: Set the Length parameter to define the period over which Fibonacci levels are calculated.
Analyze Levels: Observe the plotted Fibonacci levels and their color-coded lines to identify potential price retracement zones and target areas.
Incorporate Into Strategy: Use these levels in conjunction with your trading strategy to make more informed decisions on entry and exit points.
Whether you're a day trader or a swing trader, the Golden Target Auto Fib Indicator simplifies Fibonacci analysis and integrates seamlessly into your TradingView charts, helping you make more precise trading decisions.
Get started today and enhance your technical analysis with the Golden Target Auto Fib Indicator!
Feel free to adjust the description according to the specific features or customization options of your indicator.
