Shark Zones

The Shark Zone indicator is designed to detect potential zones where institutional or "smart money" activity (often referred to as "sharks") may be occurring. These zones are based on specific market behaviors that typically accompany accumulation or distribution by large players.
📊 Key Features:
Multi-timeframe Analysis: Choose a higher timeframe (HTF) for evaluating candles and volume while viewing on a lower chart.
Volume Spike Detection: Identifies candles where volume exceeds a configurable historical maximum.
Strong Candle Body: Filters for candles with a dominant body compared to their wicks, indicating directional conviction.
Range Expansion: Confirms the candle’s price range is significantly larger than the average, highlighting high-impact moves.
Dynamic Shark Zone Plotting:
Once a “Shark Bar” is detected (meeting all conditions), a zone is plotted from its high to low.
Zones remain on the chart for a set number of bars unless another Shark Bar updates the range.
Background shading and labeled markers enhance visibility.
⚙️ Adjustable Inputs:
Analysis Timeframe: Choose the HTF used for detecting smart money candles.
Volume Spike Lookback: Number of bars to compare for volume breakout.
Body/Wick Ratio: Sensitivity to strong-bodied candles.
Range Multiplier: Required deviation from average range to qualify as a spike.
Zone Reset After N Bars: Automatically clear zone after inactivity.
Show Zone: Toggle display of the detected zones.
✅ Use Cases:
Spotting possible accumulation/distribution areas.
Detecting early signs of large order imbalances.
Combining with other confluence tools (OB, VWAP, structure) to improve entry precision.