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SFP + OTO ATR [Algoliq]
📌 English Explanation
🔹 What does this indicator do?
The indicator identifies Swing Failure Patterns (SFPs), which occur when price pushes above a previous swing high or below a swing low, then quickly reverses back.
In simple terms: it detects fake breakouts (stop hunts) and potential reversals.
🔹 How does it work?
Pivot detection (L/R):
Uses left/right bar counts to detect swing highs and lows.
Can be set manually or dynamically adjusted based on ATR (volatility).
SFP conditions:
Price must grab liquidity by exceeding the previous swing level.
Candle close conditions (relative to open or previous swing) confirm validity.
If confirmed → a Bearish (red) or Bullish (green) SFP is triggered.
Visuals:
Blue line → liquidity level (previous swing).
Orange dashed line → confirmation level (pivot bar open).
Labels → 🔻 Bearish SFP (red), 🔺 Bullish SFP (green).
Alerts:
Custom alerts are included to notify traders when SFPs form.
🔹 Who is this suitable for?
Best for price action / liquidity-based traders.
Particularly useful for scalpers and day traders who look for false breakouts and liquidity grabs.
Effective for reversal trading strategies after stop hunts.
🔹 What does this indicator do?
The indicator identifies Swing Failure Patterns (SFPs), which occur when price pushes above a previous swing high or below a swing low, then quickly reverses back.
In simple terms: it detects fake breakouts (stop hunts) and potential reversals.
🔹 How does it work?
Pivot detection (L/R):
Uses left/right bar counts to detect swing highs and lows.
Can be set manually or dynamically adjusted based on ATR (volatility).
SFP conditions:
Price must grab liquidity by exceeding the previous swing level.
Candle close conditions (relative to open or previous swing) confirm validity.
If confirmed → a Bearish (red) or Bullish (green) SFP is triggered.
Visuals:
Blue line → liquidity level (previous swing).
Orange dashed line → confirmation level (pivot bar open).
Labels → 🔻 Bearish SFP (red), 🔺 Bullish SFP (green).
Alerts:
Custom alerts are included to notify traders when SFPs form.
🔹 Who is this suitable for?
Best for price action / liquidity-based traders.
Particularly useful for scalpers and day traders who look for false breakouts and liquidity grabs.
Effective for reversal trading strategies after stop hunts.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
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 dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
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.