Price Action Indicator

semalam

This indicator is based on Price Action

• Trend bar would be filled with Red/Green
  
• Reversal bar would be tagged
  

semalam

Nota Keluaran

• Enhance Trend Bar accuracy
  
• Enhance Reversal Bar accuracy
  
• Three EMA 20 in 5m, 15m and 60m respectively
  

4 jam lalu

Nota Keluaran

Al Brooks Price Action Indicator – Bar-by-Bar Analysis for Serious Traders

This indicator faithfully implements the core price action concepts from Al Brooks’ legendary four-book series:

1. Reading Price Charts Bar by Bar
2. Trading Price Action Trends
3. Trading Price Action Ranges
4. Trading Price Action Reversals

No moving averages. No oscillators. Just pure bar-by-bar logic — exactly as Al Brooks teaches.

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Core Features (100% Book-Accurate)

[anchor=trend]Trend Bars (Strong Bull/Bear)[/anchor]

• Close above open (bull) / below open (bear)
  
• Body ≥ 50% of range (Trends, p.27)
  
• Closes in top 40% (bull) / bottom 40% (bear) (Trends, p.28)
  
• Must be 50% larger than average of prior 3 bars → ensures it "stands out" (Trends, p.29)
  

[anchor=rev]Reversal Bars (Single Bar Reversals)[/anchor]

• Creates new low (bull) / new high (bear) vs prior bar
  
• Closes in upper half (bull) / lower half (bear) (Reversals, p.312)
  
• Long tail on reversal side, short tail on close side (Reversals, p.314–315)
  
• Blocked in trading ranges — only valid when overlap with prior bar ≤ 50% (Ranges, p.112)
  

[anchor=patterns]Inside/Outside Patterns[/anchor]

• ii: Two inside bars — second smaller than first
  
• oo: Two outside bars — second larger than first + strong body
  
• ioi: Inside → Outside → Inside (highlighted with blue polyline)
  
• Visual polyline boxes connect all bars in pattern
  

[anchor=ema]Multi-Timeframe EMA 20[/anchor]

• 5m (orange), 15m (teal), 60m (blue) — step lines for context
  

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Why This Indicator Is Different

• No EMA filters on bar size — uses relative bar strength (prior 3-bar avg × 1.5)
  
• No volume, no RSI, no MACD — pure price action
• Reversals disabled in ranges — avoids 70% traps (Ranges, p.89)
  
• ii/oo/ioi drawn bar-by-bar with polylines — exactly how Al draws on charts
  

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How to Use (Al Brooks Style)

1. Trend Bar in Trend → Add to position
   
2. Reversal Bar at EMA or Range Extreme → Enter with stop beyond tail
   
3. ii in Pullback → Anticipate continuation
   
4. ioi at Support/Resistance → High-probability reversal setup
   

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Settings

• Toggle patterns & reversals
  
• Adjust label size, line style, fill opacity
  
• Max consecutive inside/outside bars (2–10)
  

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Philosophy
> “Every bar is a battle between buyers and sellers. The shape tells you who won — and how strongly.”
> — Al Brooks, Reading Price Charts Bar by Bar

This indicator doesn’t predict.
It translates the battle — bar by bar — just like Al does.

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For Serious Traders Only
If you’ve read the books, this is your live annotation tool.
If you haven’t — start with the books. This indicator won’t make sense without them.

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4 jam lalu

Nota Keluaran

Update Notes

Trend Bars now require the bar to be 50% larger than the average range of the prior 3 bars — directly implementing Al Brooks' "stand out" rule (Trends, p.29).

Reversal Bars are disabled inside trading ranges (overlap with prior bar > 50%) — avoids 70% traps as taught in Ranges (p.89, p.112).

Removed volume condition from reversals — volume is helpful but not required (Reversals, p.89).

Reversal logic simplified to single bar only: new extreme, close in opposite half, long tail/short tail — 100% per Reversals (p.312–315).

ii/oo/ioi patterns preserved with bar-by-bar polyline drawing; ioi uses strict size ratios (0.5 / 1.2) as practical extension of Brooks’ "larger/smaller" concept.