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AL Brooks - Price Action Multi-Signal Suite
📘 Price Action Multi-Signal Suite📘
This indicator is a complete visual toolset for traders who use price action principles inspired by Al Brooks-style analysis.
It combines multiple nuanced signals — like first/second entries, breakout failures, trend bias, higher-timeframe context, and dynamic trend channels — into one elegant, customizable interface.
It is built with clarity, flexibility, and actionable precision in mind.
🧠 Core Concepts Behind the Tool
1. Trend Bias with EMA (20 by default)
The indicator calculates a standard EMA (default: 20) to establish trend direction bias.
When price is above EMA, we consider the market to be in a bull trend, and vice versa.
The EMA line changes color dynamically — green (bull), red (bear), gray (neutral).
🟢 Example:
If price is forming higher highs and staying above EMA with strong bull bars, the bias is bullish. In this phase, you're looking for High 1 and High 2 (H1/H2) setups.
2. First and Second Entries (H1/H2 and L1/L2)
High 1 (H1): First pullback in a bull trend after a minor new high.
High 2 (H2): A second attempt to push up after a failed H1.
Low 1 (L1) and Low 2 (L2): Mirror the above logic for bear trends.
📈 Example Trade – H2 Long:
Price breaks out above EMA.
Pulls back and forms an H1, but it fails to break out.
Second push (H2) forms a higher low, then closes strong above previous bar → BUY entry.
📉 Example Trade – L2 Short:
Market is below EMA.
A rally creates L1, fails.
L2 forms and closes below the previous bar low with a bear body → SELL entry.
3. Second Entry Logic (Simplified Swing Count)
This adds context to H2/L2 by ensuring at least two swings occurred in the same direction.
Reduces false signals in choppy markets.
Painted as colored circles (aqua = long, fuchsia = short).
4. Breakout Failure Detection
Detects false breakouts using 10-bar highs/lows:
Failed High Breakout: Price breaks a 10-bar high but closes back inside → potential reversal short.
Failed Low Breakout: Price breaks a 10-bar low but closes back inside → potential long.
🚨 Example:
Price breaks above a recent high but closes below it with a strong bear bar → look for reversal or fade setups.
5. Inside / Outside Bars
Helps recognize compression (inside bars) or volatility expansions (outside bars).
Inside bars often precede breakouts.
Outside bars may signal traps or indecision.
Use these in combination with entry logic. An H2 after an inside bar can signal a strong, clean breakout.
6. Higher Timeframe (HTF) Context
Pulls EMA and trend bias from a higher timeframe (default: 1hr).
Background color indicates HTF bias (adjustable opacity).
Green = HTF uptrend.
Red = HTF downtrend.
🧭 Usage: Trade in the direction of the HTF bias when possible. An H2 with HTF bias bullish adds confluence.
7. Trend Channels (Automatic, Visual)
Dynamically draws trend channel lines based on pivot highs/lows.
These act as support/resistance, visual guides for traps or continuation.
Trendline breakouts or touches often align with H2/L2 setups.
📏 Example:
Price touches lower channel and forms a second entry long (L2) with a strong bull bar → high-quality reversal trade.
⚙️ Customization Options
Toggle each signal component (entries, bias, bars, failures, channels).
Adjust EMA length, HTF resolution, background opacity.
Keep your chart clean and focused on the signals that matter to you.
📊 Trade Example Summary
H2 with HTF Bullish
Trade Setup: Strong bull bar after a failed H1, above EMA
Expected Move: Trend continuation upward
L2 with Channel Hit
Trade Setup: Pullback hits lower trend channel, forms L2
Expected Move: Reversal or scalp down
Failed High Breakout
Trade Setup: Price breaks above a 10-bar high, but reverses and closes inside
Expected Move: Quick fade or reversal short
Inside Bar + H2
Trade Setup: Price compresses into an inside bar, followed by a breakout with H2
Expected Move: Momentum breakout trade
Outside Bar + L2
Trade Setup: Price breaks strongly in one direction (outside bar), second push fails upward, forms L2
Expected Move: Short on weakness
Please note, this is an educational idea and representation of whatever I understood of it.
Historical performances may not be replicable in present/future.
Trade at your own responsibility.
Regards! ^^
This indicator is a complete visual toolset for traders who use price action principles inspired by Al Brooks-style analysis.
It combines multiple nuanced signals — like first/second entries, breakout failures, trend bias, higher-timeframe context, and dynamic trend channels — into one elegant, customizable interface.
It is built with clarity, flexibility, and actionable precision in mind.
🧠 Core Concepts Behind the Tool
1. Trend Bias with EMA (20 by default)
The indicator calculates a standard EMA (default: 20) to establish trend direction bias.
When price is above EMA, we consider the market to be in a bull trend, and vice versa.
The EMA line changes color dynamically — green (bull), red (bear), gray (neutral).
🟢 Example:
If price is forming higher highs and staying above EMA with strong bull bars, the bias is bullish. In this phase, you're looking for High 1 and High 2 (H1/H2) setups.
2. First and Second Entries (H1/H2 and L1/L2)
High 1 (H1): First pullback in a bull trend after a minor new high.
High 2 (H2): A second attempt to push up after a failed H1.
Low 1 (L1) and Low 2 (L2): Mirror the above logic for bear trends.
📈 Example Trade – H2 Long:
Price breaks out above EMA.
Pulls back and forms an H1, but it fails to break out.
Second push (H2) forms a higher low, then closes strong above previous bar → BUY entry.
📉 Example Trade – L2 Short:
Market is below EMA.
A rally creates L1, fails.
L2 forms and closes below the previous bar low with a bear body → SELL entry.
3. Second Entry Logic (Simplified Swing Count)
This adds context to H2/L2 by ensuring at least two swings occurred in the same direction.
Reduces false signals in choppy markets.
Painted as colored circles (aqua = long, fuchsia = short).
4. Breakout Failure Detection
Detects false breakouts using 10-bar highs/lows:
Failed High Breakout: Price breaks a 10-bar high but closes back inside → potential reversal short.
Failed Low Breakout: Price breaks a 10-bar low but closes back inside → potential long.
🚨 Example:
Price breaks above a recent high but closes below it with a strong bear bar → look for reversal or fade setups.
5. Inside / Outside Bars
Helps recognize compression (inside bars) or volatility expansions (outside bars).
Inside bars often precede breakouts.
Outside bars may signal traps or indecision.
Use these in combination with entry logic. An H2 after an inside bar can signal a strong, clean breakout.
6. Higher Timeframe (HTF) Context
Pulls EMA and trend bias from a higher timeframe (default: 1hr).
Background color indicates HTF bias (adjustable opacity).
Green = HTF uptrend.
Red = HTF downtrend.
🧭 Usage: Trade in the direction of the HTF bias when possible. An H2 with HTF bias bullish adds confluence.
7. Trend Channels (Automatic, Visual)
Dynamically draws trend channel lines based on pivot highs/lows.
These act as support/resistance, visual guides for traps or continuation.
Trendline breakouts or touches often align with H2/L2 setups.
📏 Example:
Price touches lower channel and forms a second entry long (L2) with a strong bull bar → high-quality reversal trade.
⚙️ Customization Options
Toggle each signal component (entries, bias, bars, failures, channels).
Adjust EMA length, HTF resolution, background opacity.
Keep your chart clean and focused on the signals that matter to you.
📊 Trade Example Summary
H2 with HTF Bullish
Trade Setup: Strong bull bar after a failed H1, above EMA
Expected Move: Trend continuation upward
L2 with Channel Hit
Trade Setup: Pullback hits lower trend channel, forms L2
Expected Move: Reversal or scalp down
Failed High Breakout
Trade Setup: Price breaks above a 10-bar high, but reverses and closes inside
Expected Move: Quick fade or reversal short
Inside Bar + H2
Trade Setup: Price compresses into an inside bar, followed by a breakout with H2
Expected Move: Momentum breakout trade
Outside Bar + L2
Trade Setup: Price breaks strongly in one direction (outside bar), second push fails upward, forms L2
Expected Move: Short on weakness
Please note, this is an educational idea and representation of whatever I understood of it.
Historical performances may not be replicable in present/future.
Trade at your own responsibility.
Regards! ^^
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
“There are those who think they are studying the market—when all they are doing is studying what someone has said about the market . . . not what the market has said about itself.”
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.
“There are those who think they are studying the market—when all they are doing is studying what someone has said about the market . . . not what the market has said about itself.”
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.