Institutions vs. Crypto Whales Spot BuyingBased on analysis from @tedtalksmacro, I have put together a similar tool that helps to visualise whether institutions (Coinbase and Deribit) or native crypto whales (Binance and Bitfinex) are leading the BTC spot buying.
This is plotted as the normalised relative difference (-1 and 1) between the average of Coinbase and Deribit spot price versus Binance and Bitfinex. If positive (i.e. green bar), institutions are trading at a premium; if negative (i.e. red bar), crypto whales are trading at a premium.
For example, if crypto whales are trading at a premium and price is increasing, then they are leading the buying relative to institutions. However, if whales are trading at a premium and price is decreasing, then it is likely institutions are selling off at a more rapid rate relative to the crypto whales buying pressure. This applies to the alternate scenario where institutions are trading at a premium to crypto whales.
In recent times, native crypto whales (largely Binance) drove the push from 40 to 48k, but then also marked the local top with a major sell off at this price. Institutions then took over buying at the most recent lows, driven largely by GBTC outflows slowing down and Blackrock daily inflows exceeding Grayscale outflows for the first time late last week.
Formacje wykresów
Session breakThis indicator will show future lines before each session start. It will only show London session and US session start.
You can change the color of the lines and time as per day light savings.
Up Weeks (William O'Neil)The indicator draws boxes when close to close returns are positive for at least a specified number of bars. The last bar is only included in the box (if positive) after the market is closed, to avoid false positives.
The standard use (by William O'Neil) is on weekly charts, using at least five consecutive up bars to define a box (indicating strong institutional buying activity).
Options:
* minimum number of up bars to form a box
* include flat bars (zero return) in the up count
* add labels to top and bottom box levels, as shown in the sample chart
Inversion Fair Value Gaps (IFVG) [LuxAlgo]The Inversion Fair Value Gaps (IFVG) indicator is based on the inversion FVG concept by ICT and provides support and resistance zones based on mitigated Fair Value Gaps (FVGs).
🔶 USAGE
Once mitigation of an FVG occurs, we detect the zone as an "Inverted FVG". This would now be looked upon for potential support or resistance.
Mitigation occurs when the price closes above or below the FVG area in the opposite direction of its bias.
Inverted Bullish FVGs Turn into Potential Zones of Resistance.
Inverted Bearish FVGs Turn into Potential Zones of Support.
After the FVG has been mitigated, returning an inversion FVG, a signal is displayed each time the price retests an IFVG zone and breaks below or above (depending on the direction of the FVG).
Keep in mind how IFVGs are calculated and displayed. Once price mitigates an IFVG, all associated graphical elements such as areas, lines, and signals will be deleted.
This indicator is not meant to be just a 'signal indicator'. Backtesting historical signals is incorrect as it does not consider the mitigation of IFVGs, which is a standard method for trading IFVGs & various concepts by ICT.
The signals displayed are meant for real-time analysis of current bars for discretionary analysis. Current confirmed retests of unmitigated IFVGs are still displayed to show which IFVGS have had significant reactions.
🔶 SETTINGS
Show Last: Specifies the number of most recent FVG Inversions to display in Bullish/Bearish pairs, starting at the current and looking back. Max 100 Pairs.
Signal Preference: Allows the user to choose to send signals based on the (Wicks) or (Close) Prices. This can be changed based on user preference.
ATR Multiplier: Filters FVGs based on ATR Width, The script will only detect Inversions that are greater than the ATR * ATR Width.
🔶 ALERTS
This script includes alert options for all signals.
🔹 Bearish Signal
A bearish signal occurs when the price returns to a bearish inversion zone and rejects to the downside.
🔹 Bullish Signal
A bullish signal occurs when the price returns to a bullish inversion zone and bounces out of the top.
Normalized Market IndicatorsExplanation of the Code:
Data Retrieval: The script retrieves the closing prices of the S&P 500 (sp500) and VIX (vix).
Normalization: The script normalizes these values using a simple z-score normalization (subtracting the 50-period simple moving average and dividing by the 50-period standard deviation). This makes the scales of the two datasets more comparable.
Plotting with Secondary Axis: The normalized values of the S&P 500 and VIX are plotted on the same chart. They will share the same y-axis scale as the main chart (e.g. Netflix, GOLD, Forex).
Points to Note:
Normalization Method: The method of normalization (z-score in this case) is a choice and can be adjusted based on your needs. The idea is to bring the data to a comparable scale.
Timeframe and Symbol Codes: Ensure the timeframe and symbol codes are appropriate for your data source and trading strategy.
Overlaying on Price Chart: Since these values are normalized and plotted on a seperate chart, they won't directly correspond to the price levels of the main chart (e.g. Netflix, GOLD, Forex).
Candlesticks Patterns [TradingFinder] Pin Bar Hammer Shooting🔵 Introduction
Truly, the title "TradingView" doesn't do justice to this excellent website, and that's why I've written about its crucial aspect. In this indicator, the identification of all candlesticks known as "Pin bars" is explored.
These candlesticks include the following:
- Hammer : A Pin bar formed at the end of a bearish trend, with its body being either bearish or bullish.
- Shooting Star : Formed at the end of a bullish trend, with its body being either bearish or bullish.
- Hanging Man : Formed during an upward trend, characterized by a candle with a lower shadow.
- Inverted Hammer : Formed during a downward trend, characterized by a candle with an upper shadow.
🟣 Important : For ease of use, we refer to these four candlestick patterns as Pin Bars and categorize them into the main friends "Bullish" and "Bearish."
🟣 Important : In all sources, Hanging Man and Inverted Hammer are referred to as "Reversal candles." However, in reality, whenever they appear after breaking a significant area (Break Out), we expect these candles to signal a continuation of the trend and confirmation in the direction of the trend.
🟣 Important : One of the best signs of market manipulation and entry by market giants is the "Ice Berg." So, it provides one of the best trading opportunities.
🔵 Reason for Creation
Many traders, especially volume traders, use Pin bars as confirmation and enter the market after their occurrence. In this indicator, all four patterns are identified and displayed in a colored candle format, using "triangle" and "circle."
When they are evident on the chart, directly or by drawing a horizontal line, they give us good alerts for reversal or continuation areas.
🔵 Information Table
1. Red circle: Pin bars formed in a downtrend.
2. Blue circle: Bullish Pin bars formed in an uptrend.
3. Black triangle: Bearish Pin bar candle in an uptrend.
4. Blue triangle: Bullish Pin bar candle in a downtrend.
🔵 Settings
Trend Detection Period: A special feature that considers smaller or larger fluctuations. If individual price waves need to be considered, use lower numbers; if the overall trend direction is desired, use larger numbers (e.g., 5-7 or higher). This precisely sets the Zigzag or Pivot format, not displayed but considered in the indicator calculation.
Trend Effect : By changing the Trend Effect status to "Off," all Pin bars, whether bullish or bearish, are displayed regardless of the current market trend. If the status remains "On," only Pin bars in the direction of the main market trend are shown.
🟣 Important : Black triangles "Number 3" and blue triangles "Number 4" displayed in the information table section, as explained in the "Information Table" section.
Show Bullish Pin Bar : When set to "Yes," displays bullish Pin bars; when set to "No," does not display them.
Show Bearish Pin Bar : When set to "Yes," allows the display of bearish Pin bars; when set to "No," does not display them.
Bullish Pin Bar Setting : Using the "Ratio Lower Shadow to Body" and "Ratio Lower Shadow to Higher Shadow" settings, you can customize your bullish Pin bar candles. Larger numbers impose stricter conditions for identifying bullish Pin bars.
Bearish Pin Bar Setting : Using the "Ratio Higher Shadow to Body" and "Ratio Higher Shadow to Lower Shadow" settings, you can customize your bearish Pin bar candles. Larger numbers impose stricter conditions for identifying bearish Pin bars.
Show Info Table : Allows the display or non-display of the information table (located at the bottom of the page and on the right side).
🔵 How to Use
At the end of a downtrend, look for "Hammer" candles, easily identified one by one.
To identify the "Shooting Star" candle pattern at the end of an uptrend; expect a price reversal in the downtrend.
For trades in the downward direction, wait for the formation of an "Inverted Hammer" Pin bar.
And finally, in an uptrend, where a "Hanging Man" candle can form.
🔵 Features
For better visualization, triangles and circles are used above the candles, but they can be easily removed. All Pin bars are displayed in color with the following meanings:
- Black-bodied candle: Inverted Hammer
- Turquoise blue candle: Hammer
- Pink candle: Hanging Man
- Red candle: Shooting Star
🟣 Important : The capability to detect the powerful two-candle pattern "Tweezer Top" at the end of an uptrend emerges by forming two "Shooting Star" candles side by side.
Similarly, the two-candle pattern "Tweezer Bottom" is created at the end of a downtrend with the formation of two "Hammer" candles side by side. To identify the "Tweezer" pattern, make sure the settings in the "Trend Effect" section are set to "Off."
🟣 Auxiliary Indicators
During the start of trading sessions such as Asia, London, and New York, where the highest liquidity exists, alongside this indicator, you can use the Trading Sessions indicator.
Sessions
The combination of Order Blocks "-OB" and "+OB" with candles is one of the best trading methods. The indicator that identifies order blocks, along with this indicator, can yield remarkable results in the success of Pin bar candles.
Order Blocks Finder
The trading toolset "TFlab" presents this indicator. To benefit from all indicators, we invite you to visit our page " TFlab Scripts ".
The Symbol Now [TVC25]Indicator Description
When selecting a position and analyzing the market price, the existing highs and lows are mainly referred to as support and resistance. Generally, while checking the candle chart, we calculate the fluctuation rate based on the closing price.
If you hold a position or are planning to do so, it's important to identify your risk factors in the short term. However, the decision to liquidate a position is made in a way other than the closing price method.
Considering the maximum variation of a candle with a tail, it will help you determine the degree of risk you have to take.
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Functional description
Check the largest percentage change ever
It checks the maximum market price percentage captured in one of the historical data available based on current stocks and installments.
Check short-term maximum change %
Based on current stocks and installments, we check the maximum market price percentage captured within the last n minutes.
a sense of plunging/riotism
Based on the moving average and the Bollinger band, it detects the collapse/explosiveness.
When the current market price erupts, it tends to deviate from the Bollinger band, and at this time, it is judged as a signal of a crash/riot, considering where the market price is placed relative to the moving average, and a warning sign is displayed on the chart.
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지표 설명
포지션을 선택하고 시세를 분석할 때에는 주로 기존의 최고가와 최저가를 지지와 저항으로 참고합니다. 일반적으로는 캔들 차트를 확인하면서 종가를 기반으로 한 등락률을 계산합니다.
포지션을 보유하거나 계획 중인 경우, 단기적으로 자신이 감당해야 할 위험 요소를 미리 파악하는 것이 중요합니다. 그러나 포지션 청산 결정은 종가 방식으로 결정되어지지는 않습니다.
꼬리가 포함된 캔들의 최대 변동률을 고려하면 자신이 감당해야 할 위험의 정도를 판단하는 데 도움이 될 것입니다.
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기능설명
역대 최대 변동 % 확인
현재 종목과 분봉을 기준으로 확보가능한 역대 데이터 중 1개 봉에서 포착된 최대 시세%를 확인해 줍니다.
단기 최대 변동 % 확인
현재 종목과 분봉을 기준으로 확보가능한 최근 n분내에 포착된 최대 시세%를 확인해 줍니다.
폭락/폭등 주의 감지
이동평균선과 볼린저밴드를 기반으로 폭락/폭등주의를 감지합니다.
현재 시세가 분출 하는 경우 볼린저 밴드를 이탈하는 경향이 있는데 이 때 시세가 이동평균선 대비 어떤 위치에 배치되어 있는가를 고려하여 폭락/폭등 주의 신호로 판단하고 차트에 주의표시를 표시합니다.
Liquidation Zone [Pt]█ Introduction
The Liquidation Zone indicator is designed to identify key price ranges where significant market activity, such as the liquidation of positions, is likely to occur. These zones are identified based on a specific candlestick pattern, offering insights into potential areas of market sensitivity.
█ Key Features:
► Specific Candlestick Pattern Identification: The indicator identifies liquidation zones by detecting a pattern where a red candle is encased within a series of green candles (in bullish scenarios) or a green candle within red candles (in bearish scenarios). This pattern often suggests a point where the market pauses to liquidate positions before continuing the prevailing trend.
► Market Reaction Points: These liquidation zones represent significant levels where the market previously decided to liquidate or adjust positions, indicating potential areas where price might react upon revisit.
► Integration with Volatility and Volume Data: The script combines these candlestick patterns with volatility (using ATR) and volume data, adding depth to the analysis and increasing the reliability of these zones as potential reaction areas.
► Visual Zone Mapping on Charts: Liquidation Zones are clearly marked on the trading chart for easy identification, aiding traders in visualizing these critical market areas.
█ Possible Use Cases
► Identifying Potential Reaction Areas
Traders can use the Liquidation Zone indicator to pinpoint zones where the market might pause or reverse due to previous liquidation activities. These areas can be key for planning entries, exits, or expecting increased market volatility.
► Enhancing Trading Strategy
Incorporating the analysis of liquidation zones into a trading strategy allows for a more nuanced understanding of market behavior, particularly in recognizing potential areas where price might experience significant support or resistance.
► Complementing Technical Analysis
This indicator is a valuable addition to a technical analyst's toolkit. When used alongside other analysis tools, it provides a more comprehensive view of the market, enhancing decision-making and strategy formulation.
Equal Highs & Lows [UAlgo]
🔶 Description:
The "Equal Highs/Lows " indicator is designed to identify equal highs and lows within price action. These levels are significant as they often indicate potential reversal points or areas of consolidation in the market. The indicator is based on specific settings and utilizes the concept of Average True Range (ATR) to determine thresholds for identifying these key price levels.
The indicator plots lines and labels to mark equal highs and lows on the price chart.
It dynamically adjusts to changes in market volatility by utilizing ATR-based thresholds.
🔶 Settings:
Pivot Length: Determines the number of bars used to identify pivot highs and lows.
ATR Length to calculate threshold: Specifies the length of the ATR used to calculate the threshold for determining equal highs and lows.
Threshold: Sets the percentage threshold used in conjunction with ATR to identify equal highs and lows.
Wait For Confirmation: When enabled, the indicator waits for confirmation by considering pivots beyond (considers right length bars while calcuation pivot points) the specified length.
While "Wait For Confirmation" is enabled, EQH / EQL Lines will appear after "Pivot Length" after for confirmation
While "Wait For Confirmation" is disabled, EQH / EQL Lines will appear immediately if it meets the requirements to create EQH or EQL as soon as the candle closes.
🔶 Disclaimer:
"Equal Highs/Lows " is provided for informational and educational purposes only. Trading involves risks, and users should exercise caution and perform their own analysis before making any trading decisions based on this indicator. The creator of the indicator, UAlgo, does not guarantee the accuracy or reliability of the indicator, and usage of this indicator is at the user's own risk.
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
Converging Chart Patterns - Ultimate [Trendoscope®]🎲 Introducing the Converging Chart Patterns Ultimate Indicator
Derived from the comprehensive capabilities of our premium offering, the Auto Chart Patterns - Ultimate , this new indicator focuses exclusively on converging chart patterns. It marks the beginning of a series that, over time, will encompass the full spectrum of chart pattern analysis, ultimately enhancing and expanding beyond the scope of Auto Chart Patterns.
This strategic separation into more focused indicators is designed to cater to traders seeking precision in specific chart pattern categories.
🎲 Leveraging Research and Open-Source Foundations
Our journey to this indicator has been paved by extensive research and the insights gained from our prior works on Chart Patterns, including:
Algorithmic Identification of Chart Patterns
Flag and Pennant Chart Patterns
Trading Converging Chart Patterns
Drawing upon the foundation laid by our publicly shared indicators - Auto Chart Patterns and Flags and Pennants - this tool is the culmination of our efforts to provide traders with a refined method for strategizing around converging patterns. It not only facilitates the development of technical trading strategies but also aids in evaluating their effectiveness through historical performance analysis. The specific patterns addressed by this indicator include:
Rising Wedge (Converging Type)
Falling Wedge (Converging Type)
Converging Triangle
Rising Triangle (Converging Type)
Falling Triangle (Converging Type)
🎲 Chart Pattern Scanning Methodology
The process of identifying converging chart patterns involves several key steps:
Begin by examining each zigzag for the last 5 or 6 pivot points to identify potential trend line pairs.
Determine if these trend lines are converging by projecting them forwards and checking for an intersection within a specified number of bars ahead.
Upon confirming convergence, categorize each pattern based on the directional orientation of its trend lines, as detailed in our article - Algorithmic Identification of Chart Patterns
🎲 Methodology or Trading for Chart Patterns
While traditional views assign specific trading biases to converging patterns (e.g., Rising Wedges as bearish and Falling Wedges as bullish, with Triangles being more versatile), empirical support for these assumptions is limited. Our indicator is designed to empower users to explore and validate various trading hypotheses, including unconventional ones, thereby not confining trading strategies to past market behaviors.
We enable extensive customization for testing different strategies, with the initial setup allowing for both long and short trading scenarios for each identified pattern. Users have the liberty to adjust trading directions and other parameters within the indicator's settings to suit their analytical needs.
This open approach is rooted in the methodology outlined in - Trading Converging Chart Patterns , exemplified by the following process, which users can adapt and refine through our indicator.
🎲 Overview of Indicator Components
The components of our indicator are illustrated in the chart below
Pattern Visualization : This feature dynamically displays the patterns on the chart, focusing on currently active patterns. To maintain clarity and performance, historical patterns are not shown due to the constraints of drawing objects.
Trading Annotations : The indicator marks open trades directly on the chart, accommodating both long and short positions depending on the user's settings and the current status of trades associated with each pattern.
Performance Metrics Table : A comprehensive table presents the back testing results for individual patterns as well as aggregated outcomes. It includes crucial metrics such as win rates and the profit factor based on the set risk-reward ratio, offering users valuable insights into the potential profitability of their configurations and trade strategies.
🎲 Exploring the Indicator's Customization Options
This indicator is rich in settings, offering users the capability to tailor criteria and adapt their trading rules. Each setting is accompanied by detailed tooltips, providing insights into their use. Let's examine each category systematically.
🎯 Zigzag Configuration Options
These settings enable users to adjust the scope of their pattern analysis by varying the zigzag's length and depth.
Length Adjustment : Modifying this parameter changes the scale of detected patterns, with higher values spotting larger formations and lower ones focusing on more compact patterns.
Depth Enhancement : This alters the intricacy of the recursive zigzag analysis, potentially unveiling larger patterns across several levels. Caution is advised, as excessive depth may lead to the indicator exceeding its processing capacity.
🎯 Pattern Scanning Settings
This suite of settings fine-tunes the pattern scanning process, generally calibrated for precise geometric alignment of identified patterns. While most settings may remain as default for routine use, users are encouraged to tweak them, especially the "Last Pivot Direction," to explore various theoretical approaches to pattern trading.
🎯 Trade Configuration Settings
Arguably the most crucial for users, these settings offer complete autonomy in defining trading strategies around converging chart patterns. This includes the flexibility to set entry, stop, and target prices, adjust risk-reward ratios, select the historical depth for back testing, and incorporate filters to steer trade direction.
🎯 Pattern Specific Settings
Here, users can personalize settings for individual patterns or groups, enhancing the specificity of their strategy. Apart from enabling/disabling individual patterns and pattern groups, users can also select pattern specific Last Pivot Direction, Trade Direction Filter and external filters for each pattern.
🎯 Fully Customizable Alerts
Implemented through the alert() function, these alerts bypass the standard template in the alert widget. To counteract this, we've introduced placeholders within the settings to craft detailed alert templates.
Available Categories Include
New - Alerts when a new pattern is identified
Entry - Alerts when an entry condition for configured pattern based trade is met.
Stop - Alerts when a trade that has reached entry gets stopped out without reaching target
Target - Alerts when a trade reaches its target
Invalidation - Alerts when a trade reaches invalidation point before reaching the entry.
Each alert types can have its own template. Customizable templates are very important in using alerts for broker or exchange integration.
Here are some of the placeholders that are defined in the indicator.
{type} - Alert type - new/entry/stop/target/invalid
{pid} - Pattern ID of the pattern belonging to trade. Multiple trades can have same pattern id since a pattern can be traded in both long and short directions.
{tid} - Unique Trade ID for the given trade.
{ticker} - Ticker ID on which the indicator is run
{timeframe} - Chart timeframe on which the indicator is run
{basecurrency} - Base currency of the symbol
{quotecurrency} - Quote currency of the symbol
{pivots} - Pivot values of the pattern
{price} - Current price when the alert is triggered.
{pattern} - Name of the pattern on which the alert is triggered.
{direction} - Direction of the trade.
{entrydirection} - Direction of the entry signal. Used for specific bot integration.
{exitdirection} - Direction of the exit signal. Used for specific bot integration.
{entry} - Entry price of the trade
{stop} - Stop price of the trade
{target} - Target price of the trade
{invalidation} - Invalidation price of the trade
🎯 Display and Stats
These settings are used to control the display options on the chart. Closed trade stats is displayed in a table and printed in the bottom left corner of the chart. This can be customized by using display settings.
Enhanced Candle Sticks [AlgoAlpha]🚀🌟 Introducing the Enhanced Candle Sticks by AlgoAlpha, a Pine Script tool designed to provide traders with an enhanced view of market dynamics through candlestick analysis. This script aims to visualise if price has hit the high or low of the candle first, aiding in back-testing, and to identify smaller trends using market structure.📊🔍
Key Features:
Timeframe Flexibility: Users can select their desired timeframe for analysis, offering a range of options from M15 to H12. This flexibility allows for detailed and specific timeframe analysis.
Micro Trend Identification: The script includes an option to enable 'MicroTrends', giving traders insights into smaller movements and trends within the larger market context.
Customizable Visuals: Traders can customize the colors of bullish and bearish candlesticks, enhancing visual clarity and personalizing the chart to their preferences.
State Tracking: The script tracks the 'state' of the market on lower timeframes to detect if the high or the low was formed first.
Warning System: When the selected timeframe does not match the chart timeframe, the script generates a warning, ensuring accurate analysis and preventing potential misinterpretations.
Usages:
Enhanced Back-testing: Users can now get a more accurate interpretation of the candlesticks by know if the high or the low came first (denoted with ⩚ or ⩛), especially in scenarios where the high and the low of the larger timeframe candle is touching both the take-profit and stop-loss levels.
Squeeze Analysis: Users can identify squeezes in price when the microtrend shows both an uptrend and a downtrend, possibly giving more insight into the market.
Lower Timeframe Market Structure Analysis: Microtrends form when the low of the candle is consecutively increasing and the high is consecutively falling, which means on a lower timeframe, price is forming higher lows or lower highs.
Basic Logic Explanation:
- The script starts by setting up the necessary parameters and importing the required library. Users can customize the timeframe, colors, and whether to enable micro trends and candlestick plotting.
- It then calculates the lower timeframe (1/12th of the current timeframe) for more detailed analysis. The `minutes` function helps in converting the selected timeframe into minutes.
- The script tracks new bars and calculates the highest and lowest values within an hour, using `ta.highestSince` and `ta.lowestSince`.
- It determines the market 'state' by checking if the current high is breaking the previous high and if the current low is breaking the previous low on lower timeframes to determine if the high or the low was formed first.
- The script uses the `plotchar` and `plotcandle` functions to visually represent these trends and states on the chart. This visual representation is key for quick and effective analysis.
Alerts:
Alerts can be set for microtrend formations:
This script is a valuable tool for traders looking to deepen their market analysis with enhanced candlestick visualization and micro trend tracking. 📈🔶💡
LevelUp^ Trend Follower All-In-OneLevelUp is an all-in-one collection of the most popular trend following tools merged into one indicator. LevelUp automates many aspects of technical analysis to find and highlight chart patterns and signals based on the principles of William O'Neil, Stan Weinstein, Jesse Livermore and other well-known trend followers.
The 10-EMA, 21-EMA and 50-SMA are foundational in LevelUp. LevelUp uses the term moving average alignment to refer to patterns that meet your specific requirements as it relates to moving averages and their relationship to price and one another. For example, you can request the start of MA alignment begin when the low is > 21-EMA, the 21-EMA is > 50-SMA and the 50-SMA is trending up.
LevelUp includes indicators for intraday, daily and weekly timeframes.
Key Features:
Daily Timeframe:
▪ Configure moving average alignment and preferred price action.
▪ Custom RS Line:
▪ Symbol overlays showing new RS highs.
▪ Custom moving average with optional cloud.
▪ View 10-week SMA on daily chart.
▪ Set exit criteria based on moving averages and % below entry.
▪ Stats table to simplify calculating entry/exit points.
▪ Signals table to quickly view if stock is trending up.
▪ Power trend tools and analysis.
Daily & Weekly Timeframe:
▪ Flat base detection with custom configuration.
▪ Consolidation detection with custom configuration.
▪ Highlight lower lows and lower closes (pullbacks).
▪ Highlight 52-week highs.
Weekly Timeframe:
▪ Customizable tight closes.
▪ Customizable up weeks.
Intraday Timeframe:
▪ View daily 10-EMA, 21-EMA and 50-SMA.
▪ 1-day and 2-day AVWAP.
▪ 5-day moving average.
All Timeframes:
▪ Marked highs/lows with lines showing support/resistance.
▪ Custom moving averages.
Daily Chart Examples
The following charts show a range of examples on customization and features in LevelUp when viewing a daily chart.
Weekly Chart Examples
Weekly charts are helpful for identifying longer-term trends and patterns. Trend followers often limit the number of indicators and signals on a weekly timeframe, making for a cleaner chart with less noise.
Intraday Chart Examples
Daily 10-EMA, 21-EMA and 50-SMA on an intraday chart.
AVWAP and marked highs/lows.
RS Line ~ Relative Strength
The RS Line compares a stock's performance to the S&P 500 index. A rising RS Line means the stock is outperforming the overall market. Another important signal is when the RS Line reaches a new high before price. When this occurs, it indicates strong demand for the stock and may precede a significant price increase as buyers accumulate shares. Both signals are customizable within LevelUp providing multiple visual cues when the required conditions are met.
LevelUp also adds a few unique visuals as it relates to the typical RS Line. Included are options to show symbols on the RS line that represent RS Line new high and RS Line new high before price. This provides an at-a-glance view of the trend. Additionally, LevelUp allows for custom moving averages to be applied to the RS Line as well as an optional cloud to help identify support/resistance levels.
Power Trends
When a power trend is active, there is a stronger than usual uptrend underway. The concept of a power trend was created by Investor's Business Daily (IBD) based on extensive backtesting and historical analysis.
A power trend by definition uses a major index, such as the Nasdaq Composite (IXIC), as the data source for determining a power trend's state, either off or on. The LevelUp indicator builds upon this concept by allowing the current active chart symbol to be the data source for the power trend.
What Starts A Power Trend:
▪ Low is above the 21-day EMA for at least 10 days.
▪ 21-day EMA is above the 50-day SMA for at least five days.
▪ 50-day SMA is in an uptrend.
▪ Close up for the day.
What Ends A Power Trend:
▪ 21-day EMA crosses under 50-day SMA and the close is below prior day close.
▪ Close below the 50-day SMA and low is 10% below recent high.
Important Note: The power trend as created by IBD uses the daily 21-EMA and 50-SMA. Hence, the power trend is only shown when on the daily timeframe.
AVWAP - Anchored VWAP
The Anchored Volume Weighted Average Price (AVWAP) , created by Brian Shannon, is used to assess the average price at which an asset has traded since a specific time, event or milestone. This could be the beginning of a trading day, the release of important news, or any other event deemed significant. By anchoring the VWAP to a specific point in time, it helps market participants analyze how prices have evolved relative to that anchor.
If a stock is above a rising AVWAP, buyers are in control, while a declining AVWAP indicates sellers are in control. By analyzing AVWAP, traders can make informed decisions on timing entries, managing losses and profits, or deciding to stay on the sidelines during periods of market indecision.
Tight Weeks And Up Weeks
William O'Neil primarily focused on weekly charts. Two common patterns he looked for were tight weeks and up weeks.
Tight weeks occur when there are small variations in price from one week to the next. This indicates a lack of supply and accumulation by institutions. You can configure the minimum number of weeks and the maximum % change in price from week to week.
Up weeks are defined as multiple weeks where each close is higher than the previous week. This pattern is often a signal of institutional buying. At a minimum, O'Neil looked for three weeks of upward price action. You can configure the minimum number of up weeks required.
Flat Base
A flat based is relatively tight price action within a range. A flat base takes 5+ weeks (25+ days) to form. Although flat bases are often found after a more significant advance in price, this isn't always the case. With that in mind, LevelUp does not currently have requirements for a prior uptrend while scanning for flat bases.
In a flat base, price declines should be no more than 15% from intraday peak to trough. This is an important distinction, as with a consolidation (see below) the maximum depth is based on the high of first bar that started the base.
Default Requirements:
▪ Daily minimum length: 25 days.
▪ Weekly minimum length: 5 weeks.
▪ Depth maximum: 15% (daily or weekly).
Consolidation
A consolidation differs from a flat base in that the former can be much deeper and last longer. In addition, the fluctuations in price of a flat base are often tighter than a consolidation.
Unlike a flat base, the maximum depth is calculated from the high at the start of the consolidation. The minimum length and maximum depth can be customized for all flat base and consolidation patterns.
Default Requirements:
▪ Daily minimum length: 30 days.
▪ Weekly minimum length: 6 weeks.
▪ Depth maximum: 35% (daily or weekly).
Pullback In Price And Potential Bounce
A pullback occurs when the price declines after an initial advance. This is normal price action as prior support levels are tested. Pullbacks also act as a way to shakeout weak holders before the primary trend resumes.
With LevelUp you specify the type of pullback to track: lower lows, lower closes or both. You also set the minimum number of bars required. Different values can be set for daily and weekly charts. Once your requirements are met, LevelUp will highlight the bar after the pullback is complete. This is often a potential entry/add point.
52-Week Highs
A 52-week high refers to the highest closing price within the past 52 weeks. Trend followers often use the 52-week high as a signal to identify assets with upward momentum, considering it as an indication of a potential trend continuation. This approach assumes that assets that have reached a 52-week high are more likely to experience further price appreciation.
52-week highs can be shown on both weekly and daily charts. You can set the location where the 52-week high symbol is shown: above the bar, below the bar, at the top of the chart or at the bottom of the chart.
Marked Highs And Lows
Marked highs/lows, often referred to as pivot highs/lows, can be helpful to find areas of potential support and resistance. As defined by William O'Neil, on a daily chart, a marked high is the highest high going back nine bars and forward nine bars. The number of days forward/backward is referred to as the period. The same concept applies to finding marked lows.
One benefit of LevelUp marked highs/lows is that you can customize the high and low periods on all timeframes.
There is an additional option when viewing marked highs/lows to see where a breakout occurs. The highlight is shown if the current bar high is above the most recent pivot high.
Comparing Stock Performance
With two or more copies of LevelUp installed, you can configure different settings and compare and contrast how indicators and signals perform relative to one another.
This is a great way to come up with your own custom layout for each timeframe, tailored to your preferences and trading style.
Stats And The Signals Table
The stats and signal tables can be very helpful to see price information and patterns at a glance. For example, you can quickly determine potential stoploss placement based on the distance to/from a moving average. The signals tables show the status of several key trend indicators, including 52-week highs, RS Line new high and RS Line new high before price.
Managing Long Term Trends
Depending on your trading style, there are many ways to take advantage of long term trends. For example, the chart that follows show how an uptrend can be a profitable trade whether holding for the duration or taking shorter term trades along the way.
TrendLine ScythesTrendline Scythes is a script designed to automatically detect and draw special curved trendlines, resembling scythes or blades, based on pivotal points in price action. These trendlines adapt to the volatility of the market, providing a unique perspective on trend dynamics.
🔲 Methodology
Traditional trendlines connect consecutive pivot points on a price chart, providing a linear representation of trend direction. However, this script employs a distinctive methodology by automatically detecting price pivots and then calculating special curved trendlines based on the Average True Range (ATR) of the price. This introduces a curvature to the trendlines, resembling scythes, offering a unique way to interpret market trends.
🔲 Auto Breakout and Target Detection
Trendline Scythes includes features for automatic breakout detection, signaling potential trend changes. Additionally, the script assists in target detection, helping traders set realistic and data-driven profit-taking levels based on market volatility and user adjustment.
🔲 Utility
Trend Confirmation - Use Trendline Scythes to confirm existing trends by observing how price interacts with the curved trendlines.
Breakout Signals - Auto-detection of breakouts adds a proactive element to your trading strategy, helping you stay ahead of potential trend reversals.
Target Setting - Utilize the script to set profit-taking targets based on volatility, aligning with the current market conditions.
🔲 Settings
Pivot Length - Swing detection length
Scythe Length - Adjusts the length of the scythes blade
Sensitivity - Controls how restrained the target calculation is, higher values will result in tighter targets.
🔲 Alerts
Breakout
Breakdown
Target Reached
Target Invalidated
As well as the option to trigger 'any alert' call.
Trendline Scythes is a versatile tool combining the benefits of traditional trendlines with the dynamic adaptability of curved lines for a unique approach to trend analysis.
Tomorrow CamarillaThis indicator will help you to find the next day camarilla pivots
note: you need to customise the settings use #ENABLE PRICE LINE# then you got the next day line on your chart
Candle Color By OHLC ComparisonThis indicator is designed to help you recognize the price movements within a candle/bar more quickly and easily. Typically, candle coloring is based on the opening and closing prices, but in this indicator, I followed the OHLC values in reverse order: starting with closing, low, high, and then opening. Each of these is compared with the value in the previous candle. I assigned the least importance to the opening, hence did not include it in the color determination. To make the colors memorable, I used a rainbow-like color scale; with purple representing the highest value and maroon the lowest. You can also change the colors if you wish. Additionally, if you want to set alarms, I assigned values to the candles; the highest being 16 and the lowest 1. A thicker barchart provides a better visual representation.
For instance, consider the monthly chart of the NASDAQ 100. After a prolonged positive trend, when our indicator shows a negative maroon bar (representing a low value) for the first time, it could signal a change in the trend direction. In this scenario, the appearance of the maroon bar serves as a crucial alert for investors to review their current positions or prepare for a potential downtrend. This indicator provides users with a significant advantage in identifying such critical turning points and assists them in quickly adapting to market dynamics.
Malaysian SnR LevelsThis indicator can be used to display support and resistance levels in accordance with Malaysian SnR , in which Support and Resistance are not areas in a chart but clear levels of a line chart. The term line chart refers the current chart in Tradingview as type Line (not Candles) with it's peaks and valleys.
There are 3 different horizontal levels in Malaysian SnR:
A-Level: This level is located at the peak of this line chart. It is named so because this peak has the shape of the letter A.
V-Level: Level at the valley of a line chart, which reminds of the letter V.
The A- and V-Levels are formed for the current chart / timeframe and you can define with the parameter Bars Lookback how many candles will be taken into account for adding the levels.
Gap level: This level is located at the Close/Open gap between two candles of the same color. The period for these levels is also defined by the option Bars Lookback .
The levels are shown as horizontal lines and mark Support when they are below the current price and Resistance when they are above it.
What makes the indicator so special is that conventional support and resistance indicators only use ranges, but Malaysian SnR uses clear and accurate levels at the peaks and valleys (and gaps), which can be of the state Fresh or Unfresh . But what does this state mean and how is it displayed in this indicator?
A level is designated as fresh if it has either not yet been tested, i.e. it has not been touched by a wick. If a level was no longer fresh, it can become fresh again if it is crossed by the body of a candle. If it is then touched by a wick again afterwards, it is considered unfresh (tested) again.
If a level is fresh, the theory of Malaysian SnR assumes that there is a greater probability that the price will react at that level and move in the opposite direction because this fresh Support / Resistance level is more significant than an unfresh level.
The indicator is calculating this state and displays the levels then in a different way. Fresh levels are displayed as solid lines, unfresh levels are displayed as dashed lines. It is also possible to hide unfresh levels, so that only the fresh levels are visible in the chart.
The Fresh -state of a level would be very hard to see without it the indicator:
If the script would just display all the levels that can be found for the Bars Lookback period, the chart woulkd still be full of levels. To filter this and display the most relevant levels, you can use the options Levels above/below price (number of levels) so that only the levels are displayed that are the closest ones to the current price.
Parameters of the indicator
Line Color: Line color of the levels
Line Width: Thickness of the levels
Display gap levels: Should the Gap-Levels be displayed or not
Display fresh levels only: Should unfresh / tested levels be hidden in the chart
Bars Lookback: Number of bars lookback period at which levels will be added to the chart
Levels Above Price: Number of levels that should be displayed above the price. It will be the closest levels to the price that can be found.
Levels Below Price: Number of levels that should be displayed below the price. It will be the closest levels to the price that can be found.
Timeframe Limit: Indicator will only be visible for this timeframe and above.
How to trade with Malaysian SnR levels?
One way to trade with these levels is for instance to wait on a higher timeframe like the Daily til price is reaching a fresh level. At this point a trader could switch to a lower timeframe to check if price is reacting at this level, which is when price is moving into the opposite direction.
So reaching a level of Support and then see price moving to the upside on a lower timeframe can be used as a buy signal - on the other hand if price is reaching a level of Resistance and then moving away from it to the downside on a lower timeframe, this can be used as a sell signal.
AzureBotOneIntroducing the AzureBotOne!
This script is designed to visualize the RSI and Macd on a price chart like never before!
And it works on every time frame. That means this will work on the 5 minute, 15 minute, 1 hour, 4 hour...you name it and it works.
Here's the meat and potatoes of why I think you'll love it.
Say goodbye to trying to plot RSI on your price chart by hand!
RSI is generally considered Over-Bought when above the 70. This script will pop out Purple Arrows above the price candle to give you a visual of where it's reaching said Over-Bought territory.
Now you'll be able to quickly see on your price chart with one script when it's Over-Bought. No more lining up the RSI and trying to make vertical lines! This will allow you to visualize when a Bullish Rally meets resistance.
Conversely it does the same thing when under 30 on the RSI. When in Over-Sold territory It prints Purple Arrows on the bottom side of the price candle. That's when you might consider going long?!
But wait there's MORE!
You'll also get a Yellow Arrow each time the MacD crosses. This is Massive for longer trend reversals on time frames like the daily, weekly or 4 hour. I can practically hear day traders drooling over their laptops.
Unfortunately, the MacD crosses often and can fake you out especially when volume and volatility are low. Therefore, it only prints Yellow Triangles when there is a Cross UP and Below 0. This should help you find juicy bottoms to enter a long.
What's Even better is that if you're looking to get Bearish a Yellow Triangle will print above the candle when the MacD crosses under and is above 0. Short it to ZERO!
Meticulously lining up a MacD cross-over is a thing of the past!
And just when you thought it couldn't get any better we went and added Green and Red Dots to the chart. But they are not just any random dots... Oh no buddy! These little gems have a very particular little job to do.
You see they only print Green when the RSI is over the RSI sma. That means that if alot of these little Green Dots are printing that you're most likely looking at a BULLISH Trend.
Or if you start see a bunch of Red Dots? Yup you guessed it. Its BEARISH.
The AzureBotOne should be added to your chart immediately as it will not be here for long!
And to be honest, we are nothing without your feedback!
So climb in and buckle up! We're getting ready to launch your profits off the face of the Earth.
Just promise us you'll come back and say a few nice words after you get face-melting gains!
Just click ADD THIS SCRIPT TO FAVORITES and give it a ride.
The Shiller: S/R and Momentum Tracker"The Shiller: S/R and Momentum Tracker" is a sophisticated and comprehensive Pine Script designed for traders who thrive on the cutting edge of market analysis. This script is a powerful blend of technical indicators and strategic insights, tailored to offer a commanding view of the cryptocurrency markets. Here's a glimpse into what makes "The Shiller" a standout choice:
Dynamic Support and Resistance (S/R) Levels: At its core, "The Shiller" efficiently identifies and plots crucial support and resistance levels. By harnessing the power of pivot points, the script delineates these key zones, providing traders with a clear visual guide to potential areas of market interest. Whether you're eyeing an entry point or setting up stop-loss levels, "The Shiller" keeps you one step ahead.
Real-Time RSI Analysis: The Relative Strength Index (RSI), a staple in any trader's toolkit, is integrated seamlessly. This feature allows you to gauge the current market momentum and identify overbought or oversold conditions. By keeping a pulse on the RSI readings, "The Shiller" empowers traders to make more informed decisions, be it riding a trend or anticipating a reversal.
Awesome Oscillator (AO) Insights: Adding another layer to its analytical prowess, "The Shiller" includes the Awesome Oscillator. This indicator offers a unique perspective on market dynamics, highlighting the essence of market movements. Whether the market is gathering strength for a potential breakout or showing signs of exhaustion, the AO readings on "The Shiller" are an invaluable resource.
Elegant and Informative Display Panel: One of the script's most striking features is its display panel. Positioned unobtrusively on the chart, this panel presents real-time updates of the RSI, AO, and their positions relative to the S/R levels. This efficient summarization provides a snapshot of market conditions, all at a glance.
Customizable and User-Friendly: "The Shiller" is designed with the user in mind. Inputs for RSI period, pivot range for S/R levels, and more can be easily adjusted to suit individual trading styles and preferences.
Versatile Application: While optimized for the volatile crypto markets, "The Shiller" is versatile enough to be applied to a range of financial instruments. Whether you're trading cryptocurrencies, stocks, forex, or commodities, this script is a valuable addition to your trading arsenal.
"The Shiller: S/R and Momentum Tracker" is more than just a script; it's a strategic partner in your trading journey. With its combination of technical precision and user-friendly design, it stands as a beacon of clarity in the often tumultuous financial markets.
Centered Buy and Sell Volume Indicator with FillThis indicator provides an estimation of buy and sell volumes in the market. The estimated buy volume is represented by a blue-green color, while the estimated sell volume is depicted in purple. Both of these are highlighted with a solid fill. Additionally, the Rate of Change for the buy volume is shown in a solid green line, and for the sell volume, it's illustrated with a solid purple line, both without any fill.
Flags and Pennants [Trendoscope®]🎲 An extension to Chart Patterns based on Trend Line Pairs - Flags and Pennants
After exploring Algorithmic Identification and Classification of Chart Patterns and developing Auto Chart Patterns Indicator , we now delve into extensions of these patterns, focusing on Flag and Pennant Chart Patterns. These patterns evolve from basic trend line pair-based structures, often influenced by preceding market impulses.
🎲 Identification rules for the Extension Patterns
🎯 Identify the existence of Base Chart Patterns
Before identifying the flag and pennant patterns, we first need to identify the existence of following base trend line pair based converging or parallel patterns.
Ascending Channel
Descending Channel
Rising Wedge (Contracting)
Falling Wedge (Contracting)
Converging Triangle
Descending Triangle (Contracting)
Ascending Triangle (Contracting)
🎯 Identifying Extension Patterns.
The key to pinpointing these patterns lies in spotting a strong impulsive wave – akin to a flagpole – preceding a base pattern. This setup suggests potential for an extension pattern:
A Bullish Flag emerges from a positive impulse followed by a descending channel or a falling wedge
A Bearish Flag appears after a negative impulse leading to an ascending channel or a rising wedge.
A Bullish Pennant is indicated by a positive thrust preceding a converging triangle or ascending triangle.
A Bearish Pennant follows a negative impulse and a converging or descending triangle.
🎲 Pattern Classifications and Characteristics
🎯 Bullish Flag Pattern
Characteristics of Bullish Flag Pattern are as follows
Starts with a positive impulse wave
Immediately followed by either a short descending channel or a falling wedge
Here is an example of Bullish Flag Pattern
🎯 Bearish Flag Pattern
Characteristics of Bearish Flag Pattern are as follows
Starts with a negative impulse wave
Immediately followed by either a short ascending channel or a rising wedge
Here is an example of Bearish Flag Pattern
🎯 Bullish Pennant Pattern
Characteristics of Bullish Pennant Pattern are as follows
Starts with a positive impulse wave
Immediately followed by either a converging triangle or ascending triangle pattern.
Here is an example of Bullish Pennant Pattern
🎯 Bearish Pennant Pattern
Characteristics of Bearish Pennant Pattern are as follows
Starts with a negative impulse wave
Immediately followed by either a converging triangle or a descending converging triangle pattern.
Here is an example of Bearish Pennant Pattern
🎲 Trading Extension Patterns
In a strong market trend, it's common to see temporary periods of consolidation, forming patterns that either converge or range, often counter to the ongoing trend direction. Such pauses may lay the groundwork for the continuation of the trend post-breakout. The assumption that the trend will resume shapes the underlying bias of Flag and Pennant patterns
It's important, however, not to base decisions solely on past trends. Conducting personal back testing is crucial to ascertain the most effective entry and exit strategies for these patterns. Remember, the behavior of these patterns can vary significantly with the volatility of the asset and the specific timeframe being analyzed.
Approach the interpretation of these patterns with prudence, considering that market dynamics are subject to a wide array of influencing factors that might deviate from expected outcomes. For investors and traders, it's essential to engage in thorough back testing, establishing entry points, stop-loss orders, and target goals that align with your individual trading style and risk appetite. This step is key to assessing the viability of these patterns in line with your personal trading strategies and goals.
It's fairly common to witness a breakout followed by a swift price reversal after these patterns have formed. Additionally, there's room for innovation in trading by going against the bias if the breakout occurs in the opposite direction, specially when the trend before the formation of the pattern is in against the pattern bias.
🎲 Cheat Sheet
🎲 Indicator Settings
Custom Source : Enables users to set custom OHLC - this means, the indicator can also be applied on oscillators and other indicators having OHLC values.
Zigzag Settings : Allows users to enable different zigzag base and set length and depth for each zigzag.
Scanning Settings : Pattern scanning settings set some parameters that define the pattern recognition process.
Display Settings : Determine the display of indicators including colors, lines, labels etc.
Backtest Settings : Allows users to set a predetermined back test bars so that the indicator will not time out while trying to run for all available bars.
Gains CorrelationsScript Description: This script is to tie the major futures indexes together at a macro level with the normal relationships (i.e. 10YR Yield, DXY, VIX inversely related to Equities) and determine how strong the correlation is between them using a 20 period average. For example, a move up in the 10YR yield while having a strong inverse covariance with equities should signal a downward move for equities. In addition, if ES and NQ are going down, and the Dow and RTY have a strong covariance, the probability of them going down as well is strong. Overall, it's a macro indicator on broad market movements.
Originality & Usefulness: The script functions by tying 7 major indexes together using correlation strength relative to the currently selected ticker. The user can change the tickers and also invert if needed. This is different from the single correlation script by adding in several as they track in tandem. The chart used is to illustrate periods where correlations are tight with equities and the lines are clustered towards the top range of strong covariance. It also highlights when Equities are far out of line with others like gold (GC). A loose covariance would mean the relationship is weak and this indicator would show a divergence in price action between them. The overall intent is to show that most indexes rise and fall together but sometimes they move faster together.
