OPEN-SOURCE SCRIPT
Combined Predictive Indicator

### Summary
The **Combined Predictive Indicator** is a comprehensive tool designed to provide traders with a multi-faceted view of potential future price action. It merges several well-known analytical concepts into a single, cohesive indicator, helping to identify key levels of support, resistance, and volatility-based price targets.
This script is an amalgamation of two different concepts:
1. A prediction model based on historical range, ATR, and Fibonacci levels.
2. The "Predictive Ranges" concept, which uses an adaptive ATR-based moving average to project dynamic support and resistance zones.
### Key Components
**1. Original Prediction Model:**
* **Bollinger Bands (BB):** Standard volatility bands that help gauge whether prices are high or low on a relative basis.
* **ATR-Based Predicted Range:** A channel calculated using the Average True Range (ATR) and the average historical bar range. This provides a statistically-based estimate of the potential trading range for the next period. The upper band (green) and lower band (red) represent potential bullish and bearish targets.
* **Fibonacci Levels:** Automatically drawn based on the highest high and lowest low over a user-defined lookback period. These classic 0.382 and 0.618 levels act as potential retracement or target zones.
* **HH/LL Markers:** Small triangles appear above or below the price bars to signal a new Highest High (HH) or Lowest Low (LL) within the lookback period, helping to identify shifts in market structure.
**2. Predictive Ranges (PR):**
* This component calculates five dynamic levels based on an adaptive moving average. When the price moves significantly away from the average, the levels recalculate and project new zones.
* **Resistance Levels (PR Upper 1 & 2):** Red zones that indicate potential areas of selling pressure.
* **Support Levels (PR Lower 1 & 2):** Green zones that indicate potential areas of buying pressure.
* **Average (PR Average):** The blue line serves as the centerline or equilibrium point for the ranges.
**3. Data Table:**
* A convenient table is displayed on the top-right of the chart, showing the real-time values of all key predictive levels. This allows for a quick glance without having to hover over the plotted lines.
### How to Use
* **Confluence is Key:** Look for areas where multiple levels from different components overlap. For example, if the `Predicted Upper Range` aligns with a `PR Upper` resistance level and a `Fibonacci` level, it signifies a strong area of potential resistance.
* **Range Trading:** The `Predicted Range` (gray-filled area) can be used to identify the expected volatility. Prices moving outside this range could signal a strong breakout.
* **Trend Confirmation:** Use the `New HH/LL` markers to confirm trend direction. A series of new higher highs and higher lows suggests an uptrend, and vice-versa.
* **Dynamic S/R:** The `Predictive Ranges` are excellent for identifying dynamic support and resistance in trending or ranging markets. Watch for price reactions as it approaches these zones.
### Settings
* **Original Indicators:** Customize the lengths for Bollinger Bands, ATR, and the HH/LL lookback period. Adjust Fibonacci levels if needed.
* **Predictive Ranges:** Adjust the `Length`, `Factor` (multiplier for ATR), `Timeframe`, and `Source` to fine-tune the sensitivity and responsiveness of the PR levels.
*Disclaimer: This indicator is for educational and analytical purposes only. It is not financial advice. Always perform your own due diligence before making any trading decisions.*
The **Combined Predictive Indicator** is a comprehensive tool designed to provide traders with a multi-faceted view of potential future price action. It merges several well-known analytical concepts into a single, cohesive indicator, helping to identify key levels of support, resistance, and volatility-based price targets.
This script is an amalgamation of two different concepts:
1. A prediction model based on historical range, ATR, and Fibonacci levels.
2. The "Predictive Ranges" concept, which uses an adaptive ATR-based moving average to project dynamic support and resistance zones.
### Key Components
**1. Original Prediction Model:**
* **Bollinger Bands (BB):** Standard volatility bands that help gauge whether prices are high or low on a relative basis.
* **ATR-Based Predicted Range:** A channel calculated using the Average True Range (ATR) and the average historical bar range. This provides a statistically-based estimate of the potential trading range for the next period. The upper band (green) and lower band (red) represent potential bullish and bearish targets.
* **Fibonacci Levels:** Automatically drawn based on the highest high and lowest low over a user-defined lookback period. These classic 0.382 and 0.618 levels act as potential retracement or target zones.
* **HH/LL Markers:** Small triangles appear above or below the price bars to signal a new Highest High (HH) or Lowest Low (LL) within the lookback period, helping to identify shifts in market structure.
**2. Predictive Ranges (PR):**
* This component calculates five dynamic levels based on an adaptive moving average. When the price moves significantly away from the average, the levels recalculate and project new zones.
* **Resistance Levels (PR Upper 1 & 2):** Red zones that indicate potential areas of selling pressure.
* **Support Levels (PR Lower 1 & 2):** Green zones that indicate potential areas of buying pressure.
* **Average (PR Average):** The blue line serves as the centerline or equilibrium point for the ranges.
**3. Data Table:**
* A convenient table is displayed on the top-right of the chart, showing the real-time values of all key predictive levels. This allows for a quick glance without having to hover over the plotted lines.
### How to Use
* **Confluence is Key:** Look for areas where multiple levels from different components overlap. For example, if the `Predicted Upper Range` aligns with a `PR Upper` resistance level and a `Fibonacci` level, it signifies a strong area of potential resistance.
* **Range Trading:** The `Predicted Range` (gray-filled area) can be used to identify the expected volatility. Prices moving outside this range could signal a strong breakout.
* **Trend Confirmation:** Use the `New HH/LL` markers to confirm trend direction. A series of new higher highs and higher lows suggests an uptrend, and vice-versa.
* **Dynamic S/R:** The `Predictive Ranges` are excellent for identifying dynamic support and resistance in trending or ranging markets. Watch for price reactions as it approaches these zones.
### Settings
* **Original Indicators:** Customize the lengths for Bollinger Bands, ATR, and the HH/LL lookback period. Adjust Fibonacci levels if needed.
* **Predictive Ranges:** Adjust the `Length`, `Factor` (multiplier for ATR), `Timeframe`, and `Source` to fine-tune the sensitivity and responsiveness of the PR levels.
*Disclaimer: This indicator is for educational and analytical purposes only. It is not financial advice. Always perform your own due diligence before making any trading decisions.*
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat sebenar TradingView, pencipta skrip ini telah menjadikannya sumber terbuka supaya pedagang dapat menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupun anda boleh menggunakannya secara percuma, ingat bahawa menerbitkan semula kod ini adalah tertakluk kepada Peraturan Dalaman kami.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.