NRAA v2.00 price action strategy.
green dot comes when high is greater than previous two high and same thing with rsi .
red dot comes when low is less than previous two low and same thing with rsi .
Candlestick analysis
50% candlestick closeThis indicator is useful at important level, when you want to see some bullish or bearish signs in candlestick.
At your important support level you can buy, if candlestick close is above 50% of its range, with low of this candlestick as SL.
At your important resistance level you can sell, if candlestick close is below 50% of its range, with high of this candlestick as SL.
Traffic Light Signal - POSTraffic Light Signal (TLS) is simple and most easy setup to trade.
How The Traffic Light Signal Works ?
First You have to find a Green and red candle pair or red and green candle pair then mark there highest high and lowest low with the help of line tool. if High breaks go for Buy and when low breaks go Sell. Avoid Doji candle Pair to get better result.
Additonal Indicator Used :
Relative Strength Index : To find Overbought and Oversold Zones
How to Take trade with The help of TLS indicator :
The Indicator detects the Pair candle and detect whether the pair bar high or low cross over or cross under and display the signal over the chart.
if Triangle UP Shape Appears on chart , Once the high of the signal candle breaks take entry for buy side StopLoss will be low of the signal candle.
if Triangle Down Shape Appears on chart, once the low of the signal candle breaks take entry for Short side StopLoss will be low of the signal Candle.
Always Try to take profit 1:2 or as per your risk rewards.
Note :
if you are scalping then avoid first and Last Bar of day in 1 min and 3 min timeframe only
if you are Intraday Trader Use 5 Min and 15 Min max for this strategy.
if your are positional Trader use 1hr or 1 day Timeframe to trade.
No more than 3 trades to trade on this indicator.
Use Additional Indicator for Accuracy
Indicator works on Crypto , Equity , Futures , Options.
Hope you like this if any issue with this indicator ask below or message me.
Thanks and Regards,
TradingTail
Double Candle Trend Counter [theEccentricTrader]█ OVERVIEW
This indicator counts the number of confirmed double candle trend scenarios on any given candlestick chart and displays the statistics in a table, which can be repositioned and resized at the user's discretion.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Upper Candle Trends
• A higher high candle is one that closes with a higher high price than the high price of the preceding candle.
• A lower high candle is one that closes with a lower high price than the high price of the preceding candle.
• A double-top candle is one that closes with a high price that is equal to the high price of the preceding candle.
Lower Candle Trends
• A higher low candle is one that closes with a higher low price than the low price of the preceding candle.
• A lower low candle is one that closes with a lower low price than the low price of the preceding candle.
• A double-bottom candle is one that closes with a low price that is equal to the low price of the preceding candle.
Muti-Part Upper and Lower Candle Trends
• A multi-part higher high trend begins with the formation of a new higher high and continues until a new lower high ends the trend.
• A multi-part lower high trend begins with the formation of a new lower high and continues until a new higher high ends the trend.
• A multi-part higher low trend begins with the formation of a new higher low and continues until a new lower low ends the trend.
• A multi-part lower low trend begins with the formation of a new lower low and continues until a new higher low ends the trend.
Double Candle Trends
• A double uptrend candle trend is formed when a candle closes with both a higher high and a higher low.
• A double downtrend candle trend is formed when a candle closes with both a lower high and a lower low.
Multi-Part Double Candle Trends
• A multi-part double uptrend candle trend begins with the formation of a new double uptrend candle trend and continues until a new lower high or lower low ends the trend.
• A multi-part double downtrend candle trend begins with the formation of a new double downtrend candle trend and continues until a new higher high or higher low ends the trend.
█ FEATURES
Inputs
• Start Date
• End Date
• Position
• Text Size
• Show Plots
Table
The table is colour coded, consists of seven columns and, as many as, thirty-two rows. Blue cells denote the multi-part trend scenarios, green cells denote the corresponding double uptrend candle trend scenarios and red cells denote the corresponding double downtrend candle trend scenarios.
The multi-part double candle trend scenarios are listed in the first column with their corresponding total counts to the right, in the second and fifth columns. The last row in column one, displays the sample period which can be adjusted or hidden via indicator settings.
The third and sixth columns display the double candle trend scenarios as percentages of total 1-part double candle trends. And columns four and seven display the total double candle trend scenarios as percentages of the last, or preceding double candle trend part. For example 4-part double uptrend candle trends as percentages of 3-part double uptrend candle trends.
Plots
I have added plots as a visual aid to the double candle trend scenarios. Green up-arrows, with the number of the trend part, denote double uptrend candle trends. Red down-arrows, with the number of the trend part, denote double downtrend candle trends.
█ HOW TO USE
This indicator is intended for research purposes, strategy development and strategy optimisation. I hope it will be useful in helping to gain a better understanding of the underlying dynamics at play on any given market and timeframe.
It can, for example, give you an idea of whether the current double candle trend will continue or fail, based on the current trend scenario and what has happened in the past under similar circumstances. Such information can be useful when conducting top down analysis across multiple timeframes and making strategic decisions.
What you do with these statistics and how far you decide to take your research is entirely up to you, the possibilities are endless.
█ LIMITATIONS
Some higher timeframe candles on tickers with larger lookbacks such as the DXY , do not actually contain all the open, high, low and close (OHLC) data at the beginning of the chart. Instead, they use the close price for open, high and low prices. So, while we can determine whether the close price is higher or lower than the preceding close price, there is no way of knowing what actually happened intra-bar for these candles. And by default candles that close at the same price as the open price, will be counted as green. You can avoid this problem by utilising the sample period filter.
It is also worth noting that the sample size will be limited to your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000. If upgrading is currently not an option, you can always keep a rolling tally of the statistics in an excel spreadsheet or something of the like.
CPR with inside candle, Pivot Points and 4EMA The CPR trading strategy is a technical analysis approach that combines multiple indicators to determine potential price levels and trading opportunities. The strategy uses three main components: Inside Candles, Pivot Points, and the 4EMA.
Inside Candles: The Inside Candle pattern is a candlestick pattern where the current candle has a lower high and a higher low than the previous candle. This pattern can indicate a period of consolidation or indecision in the market and can signal a potential reversal or continuation of the trend.
Pivot Points: Pivot Points are technical indicators that use the previous day's price data to calculate key levels of support and resistance for the current trading day. These levels can act as potential areas of buying or selling pressure and can help traders identify potential entry and exit points.
4EMA: The 4EMA is a short-term Exponential Moving Average that tracks the average price of an asset over the previous four periods. This indicator is used to help identify short-term trends in the market and can signal potential buying or selling opportunities.
To apply the CPR strategy, traders first look for Inside Candles on their chart, indicating a period of consolidation or indecision in the market. Next, they identify the Pivot Points for the current trading day, which can act as potential areas of support or resistance. Finally, traders use the 4EMA to confirm the direction of the trend and potential entry or exit points.
For example, if an Inside Candle forms at a Pivot Point level and the 4EMA is indicating an uptrend, this could be a potential buying opportunity. Conversely, if an Inside Candle forms at a Pivot Point level and the 4EMA is indicating a downtrend, this could be a potential selling opportunity.
SMC sessionzz by JelleThe main function of this indicator is to make it easy to identify several smart money concepts (SMC) and ICT practices by using a single indicator. The functions themselves are not my original content, but rather a collection of several scripts with some tweaking, combined into a single indicator.
Main functions:
- Provides the ability to set bar color for London, New York and Asia sessions
- Provides the ability to set background color for London, New York and Asia sessions
- Provides the ability to indicate NY and GMT midnight on the chart by plotting vertical lines
- Provides several smart features to turn bar color and background color on/off depending on the timeframe
Usage example:
- Easily determine each session high and low by using the bar color feature
- Easily determine the daily high and low by using the vertical midnight lines
- Easily determine ICT kill zones by setting background color for each session
- Easily avoid clutter on your chart by using the timeframe filters
Upper Candle Trends [theEccentricTrader]█ OVERVIEW
This indicator simply plots upper candle trends and should be used in conjunction with my Lower Candle Trends indicator as a visual aid to my Upper and Lower Candle Trend Counter indicator.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Upper Candle Trends
• A higher high candle is one that closes with a higher high price than the high price of the preceding candle.
• A lower high candle is one that closes with a lower high price than the high price of the preceding candle.
• A double-top candle is one that closes with a high price that is equal to the high price of the preceding candle.
Lower Candle Trends
• A higher low candle is one that closes with a higher low price than the low price of the preceding candle.
• A lower low candle is one that closes with a lower low price than the low price of the preceding candle.
• A double-bottom candle is one that closes with a low price that is equal to the low price of the preceding candle.
Muti-Part Upper and Lower Candle Trends
• A multi-part higher high trend begins with the formation of a new higher high and continues until a new lower high ends the trend.
• A multi-part lower high trend begins with the formation of a new lower high and continues until a new higher high ends the trend.
• A multi-part higher low trend begins with the formation of a new higher low and continues until a new lower low ends the trend.
• A multi-part lower low trend begins with the formation of a new lower low and continues until a new higher low ends the trend.
█ FEATURES
Plots
Green up-arrows, with the number of the trend part, denote higher high trends. Red down-arrows, with the number of the trend part, denote lower high trends.
█ LIMITATIONS
Some higher timeframe candles on tickers with larger lookbacks such as the DXY , do not actually contain all the open, high, low and close (OHLC) data at the beginning of the chart. Instead, they use the close price for open, high and low prices. So, while we can determine whether the close price is higher or lower than the preceding close price, there is no way of knowing what actually happened intra-bar for these candles. And by default candles that close at the same price as the open price, will be counted as green.
Lower Candle Trends [theEccentricTrader]█ OVERVIEW
This indicator simply plots lower candle trends and should be used in conjunction with my Upper Candle Trends indicator as a visual aid to my Upper and Lower Candle Trend Counter indicator.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Upper Candle Trends
• A higher high candle is one that closes with a higher high price than the high price of the preceding candle.
• A lower high candle is one that closes with a lower high price than the high price of the preceding candle.
• A double-top candle is one that closes with a high price that is equal to the high price of the preceding candle.
Lower Candle Trends
• A higher low candle is one that closes with a higher low price than the low price of the preceding candle.
• A lower low candle is one that closes with a lower low price than the low price of the preceding candle.
• A double-bottom candle is one that closes with a low price that is equal to the low price of the preceding candle.
Muti-Part Upper and Lower Candle Trends
• A multi-part higher high trend begins with the formation of a new higher high and continues until a new lower high ends the trend.
• A multi-part lower high trend begins with the formation of a new lower high and continues until a new higher high ends the trend.
• A multi-part higher low trend begins with the formation of a new higher low and continues until a new lower low ends the trend.
• A multi-part lower low trend begins with the formation of a new lower low and continues until a new higher low ends the trend.
█ FEATURES
Plots
Green up-arrows, with the number of the trend part, denote higher low trends. Red down-arrows, with the number of the trend part, denote lower low trends.
█ LIMITATIONS
Some higher timeframe candles on tickers with larger lookbacks such as the DXY , do not actually contain all the open, high, low and close (OHLC) data at the beginning of the chart. Instead, they use the close price for open, high and low prices. So, while we can determine whether the close price is higher or lower than the preceding close price, there is no way of knowing what actually happened intra-bar for these candles. And by default candles that close at the same price as the open price, will be counted as green.
Upper and Lower Candle Trend Counter [theEccentricTrader]█ OVERVIEW
This indicator counts the number of confirmed upper and lower candle trend scenarios on any given candlestick chart and displays the statistics in a table, which can be repositioned and resized at the user's discretion.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Upper Candle Trends
• A higher high candle is one that closes with a higher high price than the high price of the preceding candle.
• A lower high candle is one that closes with a lower high price than the high price of the preceding candle.
• A double-top candle is one that closes with a high price that is equal to the high price of the preceding candle.
Lower Candle Trends
• A higher low candle is one that closes with a higher low price than the low price of the preceding candle.
• A lower low candle is one that closes with a lower low price than the low price of the preceding candle.
• A double-bottom candle is one that closes with a low price that is equal to the low price of the preceding candle.
Muti-Part Upper and Lower Candle Trends
• A multi-part higher high trend begins with the formation of a new higher high and continues until a new lower high ends the trend.
• A multi-part lower high trend begins with the formation of a new lower high and continues until a new higher high ends the trend.
• A multi-part higher low trend begins with the formation of a new higher low and continues until a new lower low ends the trend.
• A multi-part lower low trend begins with the formation of a new lower low and continues until a new higher low ends the trend.
█ FEATURES
Inputs
• Start Date
• End Date
• Position
• Text Size
Table
The table is colour coded, consists of seven columns and, as many as, sixty-two rows. Blue cells denote the multi-part trend scenarios, green cells denote the corresponding upper candle trend scenarios and red cells denote the corresponding lower candle trend scenarios.
The multi-part candle trend scenarios are listed in the first column with their corresponding total counts to the right, in the second and fifth columns. The last row in column one, displays the sample period which can be adjusted or hidden via indicator settings.
The third and sixth columns display the candle trend scenarios as percentages of total 1-part candle trends. And columns four and seven display the total candle trend scenarios as percentages of the last, or preceding candle trend part. For example 4-part higher high trends as a percentages of 3-part higher high trends. This offers more insight into what might happen next at any given point in time.
Plots
For a visual aid to this indicator please use in conjunction with my Upper Candle Trends and Lower Candle Trends indicators which can both be found on my profile page under scripts, or in community scripts under the same names.
Green up-arrows, with the number of the trend part, denote higher high trends when above bar and higher low trends when below bar. Red down-arrows, with the number of the trend part, denote lower high trends when above bar and lower low trends when below bar.
█ HOW TO USE
This is intended for research purposes, strategy development and strategy optimisation. I hope it will be useful in helping to gain a better understanding of the underlying dynamics at play on any given market and timeframe.
It can, for example, give you an idea of whether the current upper or lower candle trend will continue or fail, based on the current trend scenario and what has happened in the past under similar circumstances. Such information can be useful when conducting top down analysis across multiple timeframes and making strategic decisions.
What you do with these statistics and how far you decide to take your research is entirely up to you, the possibilities are endless.
█ LIMITATIONS
Some higher timeframe candles on tickers with larger lookbacks such as the DXY , do not actually contain all the open, high, low and close (OHLC) data at the beginning of the chart. Instead, they use the close price for open, high and low prices. So, while we can determine whether the close price is higher or lower than the preceding close price, there is no way of knowing what actually happened intra-bar for these candles. And by default candles that close at the same price as the open price, will be counted as green. You can avoid this problem by utilising the sample period filter.
It is also worth noting that the sample size will be limited to your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000. If upgrading is currently not an option, you can always keep a rolling tally of the statistics in an excel spreadsheet or something of the like.
Oliver Velez IndicatorOliver Velez is a well-known trader and educator who has developed multiple trading strategies. One of them is the 20-200sma strategy, which is a basic moving average crossover strategy. The strategy involves using two simple moving averages (SMAs) - a short-term SMA with a period of 20 and a long-term SMA with a period of 200 - on a 2-minute timeframe chart.
When the short-term SMA crosses above the long-term SMA, it signals a potential bullish trend and traders may look for opportunities to enter a long position. Conversely, when the short-term SMA crosses below the long-term SMA, it signals a potential bearish trend and traders may look for opportunities to enter a short position.
Traders using this strategy may also look for additional confirmations, such as price action signals or other technical indicators, before entering or exiting a trade. It is important to note that no trading strategy can guarantee profits, and traders should always use risk management techniques to limit potential losses.
This script is an implementation of the 2 SMA's (can also choose other types of MA's), with Elephant Bar Indicator (EBI) and the Tail Bars Indicator in TradingView.
The Elephant Bar Indicator is a technical indicator used in trading to identify potential trend reversals in the market. It is named after the large size of the bullish or bearish candlestick that it represents. The Tail Bars Indicator is a pattern recognition technique that identifies candlestick patterns with long tails or wicks.
The script starts by defining the input parameters for both indicators. For the Elephant Bar Indicator, the user inputs the lookback period and the size multiplier. For the Tail Bars Indicator, the user inputs the tail ratio and opposite wick ratio.
Next, the script calculates the moving averages of the closing price over the defined short and long periods using the Moving Average function. The script then calculates the average candle size and volume over the lookback period.
The script then identifies the Elephant Bars and Tail Bars using the input parameters and additional conditions. For Elephant Bars, the script identifies bullish and bearish bars that meet certain criteria, such as a size greater than the average candle size and volume greater than the average volume.
For Tail Bars, the script identifies bullish and bearish bars that have long tails or wicks and meet certain criteria such as opposite wick size less than or equal to the tail size multiplied by the input opposite wick ratio.
Finally, the script plots the Elephant Bar and Tail Bar signals on the chart using different colors and shapes. The script also plots the moving averages and Keltner Channels to help traders identify potential trend reversals.
It is still under development, so please, if someone has ideas to add, more than welcome
Candle Trend Counter [theEccentricTrader]█ OVERVIEW
This indicator counts the number of confirmed candle trend scenarios on any given candlestick chart and displays the statistics in a table, which can be repositioned and resized at the user's discretion.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a high price equal to or above the price it opened.
• A red candle is one that closes with a low price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Muti-Part Green and Red Candle Trends
• A multi-part green candle trend begins upon the completion of a swing low and continues until a red candle completes the swing high, with each green candle counted as a part of the trend.
• A multi-part red candle trend begins upon the completion of a swing high and continues until a green candle completes the swing low, with each red candle counted as a part of the trend.
█ FEATURES
Inputs
Start Date
End Date
Position
Text Size
Show Sample Period
Show Plots
Table
The table is colour coded, consists of seven columns and, as many as, thirty-one rows. Blue cells denote the multi-part candle trend scenarios, green cells denote the corresponding green candle trend scenarios and red cells denote the corresponding red candle trend scenarios.
The candle trend scenarios are listed in the first column with their corresponding total counts to the right, in the second column. The last row in column one, displays the sample period which can be adjusted or hidden via indicator settings.
The third column displays the total candle trend scenarios as percentages of total 1-candle trends, or complete swing highs and swing lows. And column four displays the total candle trend scenarios as percentages of the, last, or preceding candle trend part. For example 4-candle trends as a percentage of 3-candle trends. This offers more insight into what might happen next at any given point in time.
Plots
I have added plots as a visual aid to the various candle trend scenarios listed in the table. Green up-arrows, with the number of the trend part, denote green candle trends. Red down-arrows, with the number of the trend part, denote red candle trends.
█ HOW TO USE
This indicator is intended for research purposes, strategy development and strategy optimisation. I hope it will be useful in helping to gain a better understanding of the underlying dynamics at play on any given market and timeframe.
It can, for example, give you an idea of whether the next candle will close higher or lower than it opened, based on the current scenario and what has happened in the past under similar circumstances. Such information can be very useful when conducting top down analysis across multiple timeframes and making strategic decisions.
What you do with these statistics and how far you decide to take your research is entirely up to you, the possibilities are endless.
█ LIMITATIONS
Some higher timeframe candles on tickers with larger lookbacks such as the DXY , do not actually contain all the open, high, low and close (OHLC) data at the beginning of the chart. Instead, they use the close price for open, high and low prices. So, while we can determine whether the close price is higher or lower than the preceding close price, there is no way of knowing what actually happened intra-bar for these candles. And by default candles that close at the same price as the open price, will be counted as green. You can avoid this problem by utilising the sample period filter.
The green and red candle calculations are based solely on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with. Alternatively, you can replace the scenarios with your own logic to account for the gap anomalies, if you are feeling up to the challenge.
It is also worth noting that the sample size will be limited to your Trading View subscription plan. Premium users get 20,000 candles worth of data, pro+ and pro users get 10,000, and basic users get 5,000. If upgrading is currently not an option, you can always keep a rolling tally of the statistics in an excel spreadsheet or something of the like.
Ectopic Bar by Moti RakamEctopic Bar is an indicator that highlights a pin-bar candle that has divergence in it's shape and volume delta. To find volume delta, code of standard Up/Down volume indicator has been used.
PIN BAR : pin bar are marked by using Close Range option parameter. Default value is set to 0.35 which implies any candle that closes in the 35% of its high/low will be considered a pin bar (of course the code also ensures that rest of the bar body is only a wick).
HOW IT WORKS:
Up/Down volume variables "Up Volume" and "Down Volume" are checked against the shape of the pin bar to find an ectopic situation. For example, if a bullish pin bar candle (a bullish hammer) has more sell volume than buy volume, that's an ectopic situation. The bullish hammer shows a buying push from the bottom of the wick, instead the up/down volume indicator shows there were more sell orders than buy orders. Hence the ectopic situation. Similarly, an inverted hammer (a bearish hammer) in general should have more sell volume, but instead if it has more buying volume, the indicator highlights it as an ectopic bar.
Ectopic Bars are painted in yellow colour.
Weekly Options Expiry Candle V.2In India Weekly options expire on Thursday and that creates a different price action candle than the week timeframe.
My previous script Weekly Options Expiry Candle has some limitations. This script overcame those limitations and added some features.
You can use this in any intraday time frame candle.
It will show:
All expiry candle in box format
Expiry OHLC label
Pivot (Floor or Fibonacci) based on expiry OHLC data
Developing Expiry candle and Pivot
A table showing expiry range(high-low) and Expiry body abs(open-close) stats.
You can turn on or off any feature.
Please let me know if you found this script useful or have any questions or suggestions.
NSE:BANKNIFTY
NSE:NIFTY
Cloud Bunching [5ema]Reused some functions from (i believe made by):
©paaax: The table position function.
@QuantNomad: The function calculated value and array screener for 40+ instruments .
How it uses:
Gives signal when the cloud is bunching with ratio smaller than the set ratio and the close price breaking out the cloud.
Track 40 different symbols, on any timeframe to follow and alert.
When a symbol has a signal, it will display on the chart and send an alert.
How it works:
The cloud created by 5 EMA (20, 50, 200, 460, 610). Upper Cloud is max EMA , Lower Cloud is min EMA . Center line is averange (5 EMA )
If the ratio upper / lower < input bunching (%) -> change color of cloud.
Get the signal if: the close price break out cloud (with bar is shooting, or hammer ,...) and high volume (or not).
With another symbols (max 40 ) also use that function with any time frame. By request.security() and array function.
How it setting:
Change the bunching rate (%) of the clouds for any symbols.
Change the percentage (%) of the close price that breaks out of the bunching cloud.
Choose volume condition.
Show or turn off the cloud, table.
Select the symbol to follow.
Choose a timeframe to follow other symbols.
----
This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.
Vertical Line at nth Previous CandleThis code is a Pine script for TradingView that plots a vertical line on the chart n bars away from the current candle on the current time frame. The number of bars and line color can be customized by the user using input fields. The script calculates the highest and lowest price on the chart for the past n bars, and then draws a vertical line at the target bar with the specified line color. The previous line is removed and the ID of the new line is stored so that the next time the script is run, it can be removed and replaced with a new line. This script can be useful for marking important points on a chart or for visually tracking patterns or trends over time.
Entry Alert BotThis bot is SIMPLY to trigger an external webhook. You simply enter you take profit, entry, and stop loss %, and it will auto-populate the variables listed to the calculated values. That is all this script does. It does draw the trade on the chart for you. If you want a long, and price crosses up over you entry it will trigger the webhook. If you want a short and price crosses below your entry, it will trigger the webhook.
SumIndTarget:
The SumInd indicator combines Heiking Ashi, Sar Parabolic, Koncord, RSI, DMI, MACD and Bollinger Bands to give buy or sell signals or trends. This are called base indicators.
The goal is to have a clear and quick buy or sell suggestion and to avoid evaluating all or some of the named indicators, especially if they give contradictory signals among them. This speed and simplicity helps the trader to see several tickers in less time. It is intended for all markets and time periods where the above-mentioned indicators can be used.
How it works:
SumInd already has the importance or "weight" of each indicator named above configured, but they can be modified. You can set 0% for no use, or any other value based on the weight you want to give it, between 1% and 200% where 100% is the normal use, and increases or decreases based on importance.
Each base indicator can give signals to buy, sell or just "wait and see".
Each base indicator is checked for a buy signal, in which case its weight is added to the positive or green line, and if there is a sell signal, its weight is subtracted from the sell or red line. in case of indeterminacy or 'wait and see', nothing is added to any signal.
The yellow or total line is the sum of the buy or green signal plus the sell or red signal.
If the yellow or total line rises above the buy level, the background changes to green and an up arrow appears at the bottom of the chart indicating the buy suggestion, because most of the indicators you are interested in gave a buy signal.
If the yellow line or total falls below the sell level, the background changes to red and a downward arrow appears in the upper area of the chart indicating the sell suggestion, because most of the indicators you are interested in gave a sell signal.
The Buy and Sell level can be changed according to the security of the suggestion you need.
Areas without arrows or marks are considered "wait and see" areas, the previous trend in principle continues. They can be marked with the default background if desired from the SumInd settings.
Details and criterials:
Each of the following indicators can be turned on or off and assigned different weights of importances, by whether or not it shares the following criteria:
Heikin Ashi candles: add or subtract half an assigned weight if there is a buy or sell candle and the other half weight if there are two consecutive candles with the same signal.
RSI: Adds or subtracts the assigned weight if the ema is below or above the signal.
Parabolic Sar: Adds half a weight in transition to buy or sell and another half weight if there are two consecutive signals of the same trend.
Koncord: Add or subtract the weight if the current trend (mountain) grows or decreases respectively from the 4th previous time signal, and also the value (red line) is less than 35 or exceeds 65 respectively.
DMI: Adds or subtracts a quarter of the weight assigned by the DMI signal multiplied by the value of DMI, if the positive or negative signal exceeds the other negative or positive signal by 15% respectively.
Bollinger Bands: Add or subtract the weight if the previous third signal touches or falls out of the zone and keeps growing or decreasing respectively.
MACd: Add or subtract one third of the weight if the last 3 time signals are rising or falling, Add or subtract another third if the fast signal is above or below the slow signal, and Add or subtract the last third of the weight if it is rising with the negative fast signal, or falling with the positive fast signal.
Liquidity Candles with Prev Day High/Low and Midnight OpenAlright, let's talk about how to use this fancy indicator. But first, let me warn you, using indicators is like driving a car, you can't just press the gas pedal and hope for the best. You need to know what you're doing, or else you'll crash and burn faster than a soufflé in a microwave.
Now, let's get started. The first thing you need to do is understand what this indicator is telling you. Think of it like a signalman at a train station. He's waving flags and giving hand signals to tell you whether it's safe to proceed or if you need to stop and wait. This indicator works the same way.
It's going to give you signals based on price movements, telling you whether it's safe to buy or sell. But don't get too excited, my friend. You still need to use your brain and make smart decisions. Don't just blindly follow the signals, or else you'll end up like a sheep being led to the slaughter.
Now, let's talk about some of ICT's smart money trading concepts. First up, we have "liquidity grabs". This is when the big boys in the market create false breakouts to shake out the weak hands. They're like school bullies stealing lunch money from the little kids. But you can avoid being a victim by watching for signs of a liquidity grab, and using your brain to decide whether it's a real breakout or just a trap.
Next up, we have "stop runs". This is when the big players purposely trigger stop-loss orders to get a better entry or exit. It's like a game of chicken, but with your money on the line. To avoid being run over, keep an eye on your stop-loss orders, and don't be too predictable in your trading.
Finally, we have "market structure". This is like the blueprint of the market, showing you where the support and resistance levels are. It's like a treasure map to finding the best trades. But don't forget that market structure can change over time, so keep updating your map and stay ahead of the game.
So there you have it, my friend. A quick tutorial on using this indicator, with a side of ICT's smart money trading concepts. But remember, indicators are just tools, and you're the one driving the car. Use your brain, stay alert, and don't be a sheep. Happy trading!
Divergent Trades LLC:
Disclaimer: The information provided by the Divergent Trades LLC indicator is for educational and informational purposes only. It should not be considered financial advice or a recommendation to buy, sell, or trade any financial instrument. Divergent Trades LLC is not responsible for any losses incurred as a result of using this indicator. Trading in the financial markets carries a high level of risk and may not be suitable for all investors. Before making any investment decisions, please consult with a financial advisor and do your own due diligence. Past performance is not indicative of future results. By using the Divergent Trades LLC indicator, you acknowledge that you have read and understand this disclaimer and agree to its terms and conditions.
ICT Market Structure and OTE ZoneThis indicator is based on the ICT (Inner Circle Trader) concepts, and it helps identify daily market structure and the optimal trade entry (OTE) zone based on Fibonacci retracement levels.
To read and interpret this indicator, follow these steps:
Daily High and Low: The red line represents the daily high, while the green line represents the daily low. These lines help you understand the market structure and the range within which the price has moved during the previous day.
OTE Zone: The gray area between two gray lines represents the optimal trade entry (OTE) zone. This zone is calculated using Fibonacci retracement levels (in this case, 61.8% and 78.6%) applied to the previous day's high and low. The OTE zone is an area where traders might expect a higher probability of a price reversal, following the ICT concepts.
To use this indicator for trading decisions, you should consider the following:
Identify the market structure and overall trend (uptrend, downtrend, or ranging).
Watch for price action to enter the OTE zone. When the price reaches the OTE zone, it may indicate a higher probability of a price reversal.
Combine the OTE zone with other confluences, such as support and resistance levels, candlestick patterns, or additional ICT concepts like order blocks and market maker profiles, to strengthen your trading decisions.
Always use proper risk management and stop-loss orders to protect your capital in case the market moves against your trade.
Keep in mind that the provided indicator is a simple example based on the ICT concepts and should not be considered financial advice. The ICT methodology is vast, and traders often combine multiple concepts to develop their trading strategies. The provided indicator should be treated as a starting point to explore and implement the ICT concepts in your trading strategy.
Volume-Weighted Closing Range (TG Fork)Volume-weighted closing range of each bar. Closing range is (high - close) relative to the length of the wick (high - low). A close at the top of the wick would be 100%, middle 50%, bottom 0%. This is then multiplied by volume to weight towards high volume bars.
A moving average is applied to visualize trend in volume-weighted closing range over time.
Options include changing the threshold of bullish closes. The default is 50%, but you can view a close above 40% as a bullish .
How to use:
Columns indicate per-bar closing range, and can be used as either a buying-selling pressure indicator, or as an overreaction detector (eg, bars that are abnormally big can be used to start a fading/contrarian trade next bars). Green means the bar closed in the upper range, red in the lower range.
The cloud is the moving average over several bars (by default using EMA). This tends to represent sentiment over a period of time, and hence trend/momentum. Can be used in any timescale, even on weekly, then this represents the market cycles.
If you like this indicator, please show the original author your appreciation:
Hikkake Hunter 2.0This script serves as a successor to a previous script I wrote for identifying Hikkakes nearly two years ago.
The old version has been preserved here:
█ OVERVIEW
This script is a rework of an old script that identified the Hikkake candlestick pattern. While this pattern is not usually considered a part of the standard candlestick patterns set, I found a lot of value when finding a solution to identifying it. A Hikkake pattern is a 3-candle pattern where a middle candle is nested in between the range of the prior candle, and a candle that follows has a higher high and a higher low (bearish setup) or a lower high and a lower low (bullish setup). What makes this pattern unique is the "confirmation" status of the pattern; within 3 candles of this pattern's appearance, there must be a candle that closes above the high (bullish setup) or below the low (bearish setup) of the second candle. Additional flexibility has been added which allows the user to specify the number of candles (up to 5) that the pattern may have to confirm after its appearance.
█ CONCEPTS
This script will cover concepts mainly focusing on candlestick analysis, price analysis (with higher timeframes), and statistical analysis. I believe there is also educational value presented with the use of user-defined-types (UDTs) in accomplishing these concepts that I hope others will find useful.
Candlestick Analysis - Identification and confirmation of the patterns in the deprecated script were clunky and inefficient. While the previous script required the use of 6 candles to perform the confirmations of patterns (restricted solely to identifying patterns that confirmed in 3 candles or less), this script only requires 3 candles to identify and process patterns by utilizing a UDT representing a 'pattern object'. An object representing a pattern will be created when it has been identified, and fields within that object will be set for processing by the functions it is passed to. Pattern objects are held by a var array (values within the array persist between bars) and will be removed from this array once they have been confirmed or non-confirmed.
This is a significant deviation from the previous script's methods, as it prevents unnecessary re-evaluations of the confirmation status of patterns (i.e. Hikkakes confirmed on the first candle will no longer need to be checked for confirmations on the second or third; a pitfall of the deprecated version which required multiple booleans tracking prior confirmation statuses). This deviation is also what provides the flexibility in changing the number of candles that can pass before a pattern is deemed non-confirmed.
As multiple patterns can be confirmed simultaneously, this script uses another UDT representing a linked-list reduction of the pattern object used to process it. This liked-list object will then be used for Price Analysis.
Price Analysis - This script employs the use of a UDT which contains all the returns of confirmed patterns. The user specifies how many candles ahead of the confirmed pattern to calculate its return, as well as where this calculation begins. There are two settings: FROM APPEARANCE and FROM CONFIRMATION (default). Price differences are calculated from the open of the candle immediately following the candle which had confirmed the pattern to the close of the candle X candles ahead (default 10). ( SEE FEATURES )
Because of how Pine functions, this calculation necessitates a lookback on prior candles to identify when a pattern had been confirmed. This is accomplished with the following pseudo-code:
if not na(confirmed linked-list )
for all confirmed in list
GET MATRIX PLACEMENT
offset = FROM CONFIRMATION ? 0 : # of candles to confirm
openAtFind = open
percent return = ((close - openAtFind) / openAtFind) * 100
ADD percent return TO UDT IN MATRIX
All return UDTs are held in a matrix which breaks up these patterns into specific groups covered in the next section.
Higher Timeframes - This script makes a request.security call to a higher timeframe in order to identify a price range which breaks up these patterns into groups based on the 'partition' they had appeared in. The default values for this partitioning will break up the chart into three sections: upper, middle, and lower. The upper section represents the highest 20% of the yearly trading range that an asset has experienced. The lower section represents the trading range within a third (33%) of the yearly low. And the middle section represents the yearly high-low range between these two partitions.
The matrix containing all return UDTs will have these returns split up based on the number of candles required to confirm the pattern as well as the partition the pattern had appeared in. The underlying rationale is that patterns may perform better or worse at different parts of an asset's trading range.
Statistical Analysis - Once a pattern has been confirmed, the matrix containing all return UDTs will be queried to check if a 'returnArray' object has been created for that specific pattern. If not, one will be initialized and a confirmed linked-list object will be created that contains information pertinent to the matrix position of this object.
This matrix contains the returns of both the Bullish and Bearish Hikkake patterns, separated by the number of candles needed to confirm them, and by the partitions they had appeared in. For the standard 3 candles to confirm, this means the matrix will contain 18 elements (dependent on the number of candles allowed for confirmations; its size will range from 12 to 30).
When the required number of candles for Price Analysis passes, a percent return is calculated and added to the returnArray contained in the matrix at the location derived from the confirmed linked-list object's values. The return is added, and all values in the returnArray are updated using Pine's built in array.___ functions. This returnArray object contains the array of all returns, its size, its average, the median, the standard deviation of returns, and a separate 3-integer array which holds values that correspond to the types of returns experienced by this pattern (negative, neutral, and positive)*.
After a pattern has been confirmed, this script will place the partition and all of the aforementioned stats values (plus a 95% confidence interval of expected returns) related to that pattern onto the tooltip of the label that identifies it. This allows users to scroll over the label of a confirmed pattern to gauge its prior performance under specific conditions. The percent return of the specific pattern identified will later be placed onto the label tooltip as well. ( SEE LIMITATIONS )
The stats portion of this script also plays a significant role in how patterns are presented when using the Adaptive Coloring mode described in FEATURES .
*These values are incremented based on user-input related to what constitutes a 'negative' or 'positive' return. Default values would place any return by a pattern between -3% and 3% in the 'neutral' category, and values exceeding either end will be placed in the 'negative' or 'positive' categories.
█ FEATURES
This script contains numerous inputs for modifying its behavior and how patterns are presented/processed, separated into 5 groups.
Confirmation Setting - The most important input for this script's functioning. This input is a 'confirm=true' input and must be set by the user before the script is applied to the chart. It sets the number of candles that a pattern has to confirm once it has been identified.
Alert Settings - This group of booleans sets which types of alerts will fire during the scripts execution on the chart. If enabled, the four alerts will trigger when: a pattern has been identified, a pattern has been confirmed, a pattern has been non-confirmed, and show the return for that confirmed pattern in an alert. Because this script uses the 'alert' function and not 'alertcondition', these must be enabled before 'any alert() function call' is set in TradingView's 'alerts' settings.
Partition Settings - This group of inputs are responsible for creating (and viewing) the partitions that breaks the returns of the patterns identified up into their respective groups. The user may set the resolution to grab the range from, the length back of this resolution the partitions get their values from, the thresholds which breaks the partitions up into their groups, and modify the visibility (if they're shown, the colors, opacity) of these partitions.
Stats Settings - These inputs will drastically alter how patterns are presented and the resulting information derived from them after their appearance. Because of this section's importance, some of these inputs will be described in more detail.
P/L Sample Length - Defines the number of candles after the starting point to grab values from in the % return calculation for that pattern.
P/L Starting Point - Defines the starting point where the P/L calculation will take place. 'FROM APPEARANCE' will set the starting point at the candle immediately following the pattern's appearance. 'FROM CONFIRMATION' will place the starting point immediately following the candle which had confirmed the pattern. ( SEE LIMITATIONS )
Min Returns Needed - Sets how many times a specific pattern must appear (both by number of candles needed to confirm and by partition) before the statistics for that pattern are displayed onto the tooltip (and for gradient coloration in Adaptive Coloring mode).
Enable Adaptive Coloring - Changes the coloration of the patterns based on the bullish/bearishness of the specified Gradient Reference value of that pattern compared to the Return Tolerance values OR the minimum and maximum values of that specified Gradient Reference value contained in the matrix of all returns. This creates a color from a gradient using the user-specified colors and alters how many of the patterns may appear if prior performance is taken into account.
Gradient Reference - Defines which stats measure of returns will be used in the gradient color generation. The two settings are 'AVG' and 'MEDIAN'.
Hard Limit - This boolean sets whether the Return Tolerance values will not be replaced by values that exceed them from the matrix of returns in color gradient generation. This changes the scale of the gradient where any Gradient Reference values of patterns that exceed these tolerances will be colored the full bullish or bearish gradient colors, and anything in between them will be given a color from the gradient.
Visibility Settings - This last section includes all settings associated with the overall visibility of patterns found with this script. This includes the position of the labels and their colors (+ pattern colors without Adaptive Coloring being enabled), and showing patterns that were non-confirmed.
Most of these inputs in the script have these kinds of descriptions to what they do provided by their tooltips.
█ HOW TO USE
I attempted to make this script much easier to use in terms of analyzing the patterns and displaying the information to the user. The previous script would have the user go to the 'data window' side bar on TradingView to view the returns of a pattern after they had specified which pattern to analyze through the settings, needlessly convoluted. This aim at simplicity was achieved through the use of UDTs and specific code-design.
To use, simply apply the indicator to a chart, set the number of candles (between 2 and 5) for confirming this specific pattern and adjust the many settings described above at your leisure.
█ LIMITATIONS
Disclaimer - This is a tool created with the hopes of helping identify a specific pattern and provide an informative view about the performance of that pattern. Previous performance is not indicative of future results. None of this constitutes any form of financial advice, *use at your own risk*.
Statistical Analysis - This script assumes that all patterns will yield a NORMAL DISTRIBUTION regarding their returns which may not be reflective of reality. I personally have limited experience within the field of statistics apart from a few high school/college courses and make no guarantees that the calculation of the 95% confidence interval is correct. Please review the source code to verify for yourself that this interval calculation is correct (Function Name: f_DisplayStatsOnLabel).
P/L Starting Point - Because of when the object related to the confirmation status of a pattern is created (specifically the linked-list object) setting the 'P/L Starting Point' to 'FROM APPEARANCE' will yield the results of that P/L calculation at the same time as 'FROM CONFIRMATION'.
█ EXAMPLES
Default Settings:
Partition Background (default):
Partition Background (Resolution D : Length 30):
Adaptive Coloration:
Show Non-Confirmed:
Pullback IndicatorThe Pullback Indicator is a technical analysis tool designed to identify pullbacks in the price action of a financial instrument. It is based on the concept that price tends to retrace to a previous level of support or resistance before continuing in the direction of the trend.
The indicator is plotted as a series of triangles above or below the price bars, depending on the type of pullback detected. A green triangle is displayed when a bullish pullback is detected, while a red triangle is displayed for a bearish pullback.
The Pullback Indicator uses Inside Bar Range, this number is a user-defined input that specifies the number of bars to look back for the highest high and lowest low.
The indicator classifies four types of pullbacks:
Swing Low - When the price forms a lower low and a higher low than the previous bar.
Swing High - When the price forms a higher high and a lower high than the previous bar.
High Low Sweep and close below - When the price forms a lower low and a higher low than the previous bar, but the close is below the previous high.
High Low Sweep and close above - When the price forms a higher high and a lower high than the previous bar, but the close is above the previous low.
The Pullback Indicator is best used in conjunction with other technical analysis tools to confirm the direction of the trend and to identify potential entry and exit points.
Will my limit order be filled ?Hi
This is a small script that tries to assess the probability that a limit order sent at x % from the last close will be filled in the next y bars.
It is based on historical data and can be useful to decide where to place your limit orders and to determine how far from the price you can put the limit order to get an X% chance of getting filled.
It displays this result for both long and short entries and you can specify if you want to fill orders with wicks or not.
