Incomplete Session Candle - Incomplete Timeframe Candle Marker The "Incomplete Session Candle - Incomplete Timeframe Candle Marker" is an advanced tool tailored for technical analysts who understand the importance of accurate timeframes in their charting. While the indicator is not limited to the Indian market, its genesis is rooted in the nuances of trading sessions like those in India, which span 375 minutes from 9:15 AM to 3:30 PM.
Key Features:
Detects if the current timeframe is intraday (minutes or hours).
Calculates the expected duration of the candle for the chosen timeframe.
Highlights candles that don't achieve their expected session duration by placing a cross shape above the bar.
Compatible across various intraday timeframes, aiding traders in spotting discrepancies promptly.
Why We Made This: Not Just for India:
While we looked at the Indian market, this indicator works everywhere. Regular timeframes like 30 minutes, 1 hour, and 2 hours often end with incomplete candles, especially at the end of the trading day. For example:
A 30-minute timeframe makes 13 candles, but the last one is only 15 minutes long.
A 1-hour timeframe shows 7 candles, but the last one is just the last 15 minutes.
By switching to different timeframes like 25 minutes, 75 minutes, and 125 minutes, you get more complete information for better trading decisions. Learn more about this in our article: "Power of 25, 75, and 125-Minute Timeframes in the Indian Market", recognized by Trading View's Editors' Pick.
Benefits:
The indicator extends its benefits even to users without access to certain timeframes. It accommodates traders using a 1-hour timeframe (pertaining to Indian traders). By employing this indicator, traders consistently remain mindful of incomplete candles within their chosen timeframe
For those who utilize concepts like RBR, RBD, DBR, and DBD, this indicator is paramount. An incomplete candle can skew analysis, leading to potential misinterpretations of base or leg candles.
Final thoughts:
In markets like the Indian stock market, adopting such a tool is not just beneficial, but necessary. Whether you have access to unconventional timeframes or are using traditional ones, recognizing and accounting for the limitations of incomplete candles is critical & it's important to know if your candles fit the timeframe properly. This indicator gives you a better view of the market, which helps you make smarter trades.
Lastly, Thank you for your support! Your likes & comments. If you want to give any feedback then you can give in comment section.
Let's conquer the markets together!
Priceaction
Reversal Candles UG [5ema]The indicator can be find 8 reversal candlestick patterns of bullish or bearish.
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How to build?
Based on available reversal patterns that was be share by a group trader.
With name: T1, T1S, T2, T2S, T3, T3S, T3 Pro, T3 Max.
Ex1 - T1 Bull Candles and T3 Bull Candles:
Ex2 - T2 Bull Candles:
Ex2 - T1S Bull Candles:
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How to use?
Combine with other indicators like MA, EMA, RSI, Support, Resistance,... to set up a trading strategy.
Make a Alert to get a notification when a reversal candles appear.
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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.
OrderBlock [kyleAlgo]The principle of this indicator
ATR (Average True Range) Setting: The code uses ATR to help calculate the Supertrend indicator.
Supertrend Trend Direction: Identify bullish and bearish trends with the Supertrend method.
Order Block Recognition: This part of the code recognizes and creates order blocks, visualizing them as boxes on the chart. If the number of blocks exceeds the maximum limit, old blocks will be deleted.
Function to prevent overlapping: check whether the new order block overlaps with the existing order block through the isOverlapping function.
Order block color setting: The code sets the color according to whether the block is bullish or bearish, and whether it breaks above or below. Afterwards the color of the existing order blocks will be updated.
Sensitivity settings: Through the input settings of factor and atrPeriod, the sensitivity of Supertrend and the detection of order blocks can be affected.
Visualization: Use TradingView's box.new function to draw and visualize order blocks on the chart.
Practicality:
Support and Resistance Levels: Order blocks may represent areas of support and resistance in the market. By visualizing these areas, traders can better understand when price reversals are likely to occur.
Trading Signals: Traders may be able to identify trading signals based on the color changes of blocks and price breakouts. For example, if the price breaks above a bullish block, this could be a signal to buy.
Risk Management: By using ATR to adjust the sensitivity of Supertrend, the symbol helps traders to adjust their strategies according to market volatility. This can be used as a risk management tool to help identify stop loss and take profit points.
Multi-timeframe analysis: Although the code itself does not implement multi-timeframe analysis directly, it can be done by applying this indicator on different timeframes. This helps to analyze the market from different angles.
Flexibility and Customization: Through sensitivity settings, traders can customize the indicator according to their needs and trading style.
Reduced screen clutter: By removing overlapping order blocks and limiting the maximum number of order blocks, this code helps reduce clutter on charts, allowing traders to analyze the market more clearly.
Overall, this "Pine Script" can be a powerful analytical tool for trend traders and those looking to improve their trading decisions by visualizing key market areas. It can be used alone or combined with other indicators and trading systems for enhanced functionality.
PDHL levels with INTRADAY Auto FIBThe present script includes Previous day High/low levels and once the PDH or PDL breaks the present bar's background changes color according to the direction of price breakout.
It's helpful when working on lower timeframe charts with small screen space, so that the user can know that the PDHL has been taken out in one glance at the chart instead of scrolling all around to find out whether the PDH or PDL are broken or not.
The high and low of day before yesterday are also plotted for reference.
The intraday fib levels get drawn taking present day's high and low into account, useful to mark support/retest levels.
The color of the intraday AUTO FIB high and low lines also change from gray to respective assigned colors once the present day price crosses PDH or PDL this is helpful while viewing charts on mobile app.
Disclaimer: Only for studying price movement ideas, trading is not advised.
FastlaneIt will show a Marking (dot) above/below the candle where the Volume is 500000 and is up more than 5%.
Support & Resistance Dynamic [LuxAlgo]The Support & Resistance Dynamic indicator aims to return real-time predictive support and resistance zones that are relevant to a detected trend. This makes this indicator similar to our previously published Predictive Ranges indicator.
Users can additionally extend the most recent historical support and resistance zones.
🔶 USAGE
Hypothetical resistance levels in an up-trend or supports in a down-trend would tend to be broken more easily, as such the indicator primary objective is to return reliable real-time support and resistance levels by taking this into account.
When the market is up-trending the indicator will only return support zones, while a down-trending market will cause the indicator to only return resistance zones.
If the price significantly breaks a support/resistance, rendering it unreliable, it can be a sign of a potential reversal.
Users can return support/resistance levels/zones for shorter-term trends by reducing the Multiplicative Factor setting.
🔹 Extension
Users can extend past estimated support/resistance levels, the amount of extended levels is determined by the users. Certain levels can stay relevant in the future, and can also aid in measuring the significance of a breakout, with further past levels being reached being indicative of more significant trends.
🔶 DETAILS
To determine if the price is up-trending or down-trending in order to show either support or resistance, the same method used in the predictive ranges script is used. A central tendency is estimated, if price significantly deviates from it upward an uptrend is detected, else a significant deviation downward would indicate a downtrend.
The central tendency estimate is used for the construction of the support and resistance levels.
🔶 SETTINGS
Multiplicative Factor: Determines the frequency at which new supports/resistances are returned, with lower values returning more frequent levels/zones.
ATR Length: ATR averaging length used as deviation threshold for the central tendency estimate.
Extend Last: Determines the amount of most recent historical supports/resistances to extend to the latest bar.
TradeMaster ProTrading effectively requires a range of techniques, experience, and expertise. From technical analysis to market fundamentals, traders must navigate multiple factors, including market sentiment and economic conditions. However, traders often find themselves overwhelmed by market noise, making it challenging to filter out distractions and make informed decisions. To address this, we present a powerful indicator package designed to assist traders on their journey to success.
The TradeMaster indicator package encompasses a variety of trading strategies, including the SMC (Supply, Demand, and Price Action) approach, along with many other techniques. By leveraging concepts such as price action trading, support and resistance analysis, supply and demand dynamics, these indicators can empower traders to analyze entry and exit positions with precision. Unlike other forms of technical analysis that produce values or plots based on historical price data, Price Action brings you the facts straight from the source - the current price movements.
The indicator package consists of three powerful indicators that can be used individually or together to maximize trading effectiveness.
⭐ About the Pro Indicator
The Pro indicator is the cornerstone of the package, offering a comprehensive range of functions. It's strength lies in our unique structure calculation, which is based on real price action data, capturing every ticks from small intraday fluctuations to the significant high timeframe movements. The Pro Indicator reflects our personal use and deep comprehension of Smart Money Concepts. It provides streamlined tools for tracking algorithmic trends with modern visualizations, without unnecessary clutter.
In the ever-evolving trading landscape, mainstream methods and strategies can quickly become outdated as they are widely adopted. Liquidity is constantly sought after, and the best source for this is exploring and exploiting trading strategies that are widely accepted and applied. Currently, one of these strategies is the SMC (Supply, Demand, and Price Action).
It's no coincidence that our educational materials incorporate concepts such as liquidity grabs (LG) and Smart Money Traps (SMT). As the application of SMC gains popularity among retail traders, trading with this approach becomes more challenging. Therefore, the recent focus has been on reforming the SMC methodology, as it is the only method that relies on real price movements and will always work when applied correctly.
▸ What does proper application of SMC entail?
Many SMC traders associate their key areas of interest with the market structure, which is generally considered acceptable. However, depending solely on a single foundation can lead to significant deviations, which may cause notable impacts on trading results. Moreover, if the basis for the market structure calculation is inaccurate, the consequences can be even more severe. It's akin to risking money on a lottery ticket, believing it will be a winner.
Our methodology is different, and it may ensure longevity in the financial markets. The structure remains crucial, but it is not the sole foundation of everything; instead, it serves as a validation tool. Each calculation, such as order blocks (OB), Fair Value Gaps (FVG), liquidity grabs (LG), range analysis, and more, is independent and unique, separate from the structure. However, validation must ultimately come from the structure itself.
We employ individual and high-quality filters: before a function calculation is validated by the structure, it must undergo rigorous testing based on its own set of validation conditions. This approach aims to enhance robustness and accuracy, providing traders with a reliable framework for making informed trading decisions.
▸ An example for structure validation: Order Block with "Swing Sensitivity"
These order blocks will only be displayed and utilized by the script if there is a swing structure validation with a valid break. In other words, the presence of a confirmed swing Change of Character (ChoCh) or Break of Structure (BoS) is essential for the Order Block to be considered valid and relevant.
This approach ensures that the order blocks are aligned with the overall market structure and are not based on isolated or unreliable price movements. Whether it's Fair Value Gaps (FVG), Liquidity Grabs (LG), Range calculations, or other functionalities, the same underlying principle holds true. The background structure calculation serves as a validation mechanism for the data and insights generated by these functions, ensuring they adhere to the specific criteria and rules established within our methodology. By incorporating this robust validation process, traders can have confidence in the reliability and accuracy of the information provided by the indicator, allowing them to make informed trading decisions based on validated data and analysis.
👉 Usage - the general approach:
Determine your trading style using the Pro Indicator and build your basic strategy. This indicator helps you understand your trading style, whether it's swing trading, scalping or another approach. By analyzing the Pro Indicator, you gain valuable information about potential market trends, entry and exit points, and overall market sentiment.
👉 Example of usage:
In the following chart, you'll notice how we've utilized the indicator to formulate a strategic trading approach. We've employed Order Blocks equipped with volume parameters to identify crucial market zones. Simultaneously, we've leveraged swing/internal market structures to gain insights into potential long and short-term market turnarounds. Lastly, we've examined trend line liquidity zones to pinpoint probable impulses and breakouts within ongoing trends.
Now we can see how the price descended to the order block with the highest volume, which we had previously marked as our point of interest for an entry. As the price closed below the median Order Block, we noted its mitigation. After an internal CHoCH, it's directing us towards the main Order Block as a target.
👉 Smart Money Concepts Functions
Market Structure: identifies and marks key structural changes in the market, in order to visually highlight shifts in market trends and patterns. This feature is designed to alert you of significant changes in the market's behavior, signaling a potential shift from accumulation to distribution phase, or vice versa. It helps traders adapt their strategies based on evolving market dynamics.
Order Blocks: pinpoints crucial zones where large institutional investors ("smart money") have shown strong buying or selling interest recently. Order blocks can serve as a tool for identifying key levels for potential trade entries or exits.
FVGs (Fair Value Gaps): detects discrepancies between the perceived market value and actual market price, revealing potential areas for price correction. With its mitigation settings, you can fine-tune the FVG detection according to the magnitude of value misalignment you consider significant.
Liquidity Grabs: helps track "smart money" footprints by identifying levels where large institutional traders may have induced liquidity traps. Understanding these traps can aid in avoiding false market moves and optimizing trade entries.
Automatic Fibonacci Tool: Simplifying the task of identifying key Fibonacci retracement and extension levels, this tool ties Fibonacci levels to the structure for you. It aids in recognizing significant support and resistance levels, providing a clearer understanding of potential price movements.
The Smart Money Concepts trading strategy - combined with these dynamic features - becomes a powerful analytical asset for any trader, providing in-depth insights into market dynamics, trends, and potential opportunities.
👉 Algorithmic trend and dynamic support and resistance
Trend Rainbow: This proprietary feature uses our unique TRMA** method to define short-term, medium-term, and long-term market trends. It incorporates state-of-the-art visualization techniques to render the trend information in an intuitive, easily interpretable manner. It's a 21st-century tool designed for the modern trader who values both precision and simplicity.
Multi-Timeframe Moving Averages: This feature allows traders to simultaneously monitor moving averages across multiple timeframes, providing a comprehensive perspective on market trends. It helps identify dynamic support and resistance zones, key levels where price movements are likely to slow down or reverse. This function not only aids in planning potential trade entries and exits, but also calculates the precise percentage distance to these levels. Can be as well crucial for risk management, enabling traders to set stop losses and profit targets based on solid, data-driven analysis. The Multi-Timeframe Moving Averages function is a versatile tool that combines strategic planning and risk control into a single, easy-to-use feature.
👉 Unlock the Hidden Market Dynamics
Market Sessions: This feature - by default - provides a clear representation of the four major global trading sessions. Each session is distinctly marked on your trading chart, helping you visualize the specific time periods when these markets are most active. Recognizing these sessions is critical for understanding market dynamics, as the opening and closing of major markets can lead to significant price movements. Whether you're a day trader looking to exploit intra-day volatility or a long-term investor wanting to understand broader market trends, the Market Sessions feature can be a useful tool in your trading toolkit.
Divergence Functions: allow the use of unique indicators along with our proprietary ones to detect potential price reversals. As each asset has a different market maker, divergences can vary greatly across different charts and timeframes. With our Divergence Ranking Table, you can quickly determine which divergences have the highest success rates and which are the least successful on a given chart. This feature allows you to adapt your strategies to the most effective signals, enhancing your trading decisions and boosting your potential profits.
Volume Profile with delta: This feature may give traders an edge by providing an in-depth view of market activity. It illustrates the amount of trading volume at different price levels, combined with the 'delta', which is the difference between buying and selling volume. This information allows you to see areas of high trading activity and understand whether the volume is pushing the price up or down. This real-time insight into the market's supply and demand can be instrumental in identifying key support and resistance levels, predicting potential reversals, and recognizing where the market is likely to move. Similarly to Fibonacci tool, Volume Profile can be tied to the current market structure.
👉 Improve Trading Decisions
Range: This innovative feature assists traders in determining discount, premium, and equilibrium zones. It provides a unique way of visualizing price areas where a security could be overbought or oversold (premium or discount zones), and where the price is expected to be fair and balanced (equilibrium zone). Distance from current price is displayed in percentage terms, which can assist traders with crucial data for risk management and strategic planning. The Range function helps you identify the most favorable price zones for entries and set your stop-loss and take-profit levels more accurately.
Previous OHLC: This functionality offers the capability to display the previous Open, High, Low, Close values. It is primarily set on the daily timeframe and serves as an important reference for traders. Having an overview of these key levels from the previous day gives you a solid foundation on which to base today's trading decisions. Recognizing these levels can help you predict potential turning points in the market, providing an advantage in your trading strategy.
Smart Money Zones: our secret weapon for swing traders. Similarly to order blocks, these zones can accurately identify crucial areas of strong buying or selling interest by large institutional investors. However while Order Blocks focus on recent price action, Smart Money Zones take the whole chart into consideration, resulting in more established support and demand zones.
The summary graph combines six unique indicators (Momentum, Trend Strength, Volume, Volatility, Asset Strength, and Sentiment) along with Structure and Sessions. These indicators use our TRMA** method to provide a comprehensive overview of market dynamics. By consolidating these indicators into a single graph, traders can gain valuable insights into the overall market landscape.
** TRMA (Trend Rainbow Moving Averages) is a complex but customizable moving average matrix calculation that is designed to measure market trend direction, strength and shifting.
⭐ Conclusion
We hold the view that the true path to success is the synergy between the trader and the tool, contrary to the common belief that the tool itself is the sole determinant of profitability. The actual scenario is more nuanced than such an oversimplification. Our aim is to offer useful features that meet the needs of the 21st century and that we actually use.
🛑 Risk Notice:
Everything provided by trademasterindicator – from scripts, tools, and articles to educational materials – is intended solely for educational and informational purposes. Past performance does not assure future returns.
Wick-to-Body Ratio Trend Forecast | Flux ChartsThe Wick-to-Body Ratio Trend Forecast Indicator aims to forecast potential movements following the last closed candle using the wick-to-body ratio. The script identifies those candles within the loopback period with a ratio matching that of the last closed candle and provides an analysis of their trends.
➡️ USAGE
Wick-to-body ratios can be used in many strategies. The most common use in stock trading is to discern bullish or bearish sentiment. This indicator extends candle ratios, revealing previous patterns that follow a candle with a similar ratio. The most basic use of this indicator is the single forecast line.
➡️ FORECASTING SYSTEM
This line displays a compilation of the averages of all the previous trends resulting from those historical candles with a matching ratio. It shows the average movements of the trends as well as the 'strength' of the trend. The 'strength' of the trend is a gradient that is blue when the trend deviates more from the average and red when it deviates less.
Chart: AMEX:SPY 30 min; Indicator Settings: Loopback 700, Previous Trends ON
The color-coded deviation is visible in this image of the indicator with the default settings (except for Forecast Lines > Previous Trends ), and the trend line grows bluer as the past patterns deviate more.
➡️ ADAPTIVE ACCEPTABLE RANGE
The algorithm looks back at every candle within the loopback period to find candles that match the last closed candle. The algorithm adaptively changes the acceptable range to which a candle can differ from the ratio of the last closed candle. The algorithm will never have more than 15 historical points used, as it will lower its sensitivity before it reaches that point.
Chart: BITSTAMP:BTCUSD 5 min; Indicator Settings: Loopback 700
Here is the BTC chart on 7/6/23 with default settings except for the loopback period at 700.
Chart: BITSTAMP:BTCUSD 5 min; Indicator Settings: Loopback 200
Here is the exact same chart with a loopback period of 200. While the first ratio for both is the same, a new ratio is revealed for the chart with a loopback of only 200 because the adaptive range is adjusted in the algorithm to find an acceptable number of reference points. Note the table in the top right however, while the algorithm adapts the acceptable range between the current ratio and historical ones to find reference points, there is a threshold at which candles will be considered too inaccurate to be considered. This prevents meaningless associations between candles due to a particularly rare ratio. This threshold can be adjusted in the settings through "Default Accuracy".
Days Higher Than Current PriceThe "Days Higher Than Current Price" indicator is a color-coded tool that provides insights into the historical price performance of an underlying asset. By analyzing the number of bars prior to the selected day that had higher closing prices, this indicator visually represents the comparative strength or weakness of the current price level.
The "Days Higher" indicator utilizes a color-coded scheme to indicate the number of days in the asset's price history where the closing prices were higher than the current day's price. The color spectrum ranges from red to blue, representing varying levels of historical price strength.
Color Coding:
The color coding scheme of the indicator offers a quick and intuitive understanding of the price performance:
Red: Represents a higher number of days in the asset's price history where the closing prices were higher than the current day's price. This suggests a weaker price trend or a potential reversal and indicates relative price weakness.
Blue: Represents a lower number of days in the asset's price history where the closing prices were higher than the current day's price. This indicates a strong trend of higher prices and suggests relative price strength.
Orange & Green: Correspond to different numbers of days where the closing prices were higher than the current day's price. The specific color gradations between red and blue reflect increasing or decreasing historical price strength.
Methodology:
The "Days Higher" indicator examines each bar in the asset's price history leading up to the selected day. It counts the number of bars where the closing prices were higher than the current day's price.
The indicator then assigns a specific color to the price chart based on the count of such days, providing a visual representation of historical price strength relative to the current price level.
Utility:
The "Days Higher" indicator offers traders and investors a unique perspective on the historical price performance of an asset. By assessing the color-coded chart, market participants can quickly gauge the presence of strong or weak historical price trends.
This information can be used to identify potential support or resistance levels, assess the overall strength of a trend, or evaluate the likelihood of a price reversal. Traders may incorporate this indicator into their analysis to make more informed trading decisions based on the historical price strength indicated by the color-coded chart.
It is important to note that this tool should be used in conjunction with other technical analysis tools and indicators to validate signals and make well-rounded trading decisions.
Example Charts:
-Indices-
-Stocks-
-Cryptos-
-Multi-Timeframe-
lib_priceactionLibrary "lib_priceaction"
a library for everything related to price action, starting off with displacements
displacement(len, min_strength, o, c)
calculate if there is a displacement and how strong it is
Parameters:
len (int) : The amount of candles to consider for the deviation
min_strength (float) : The minimum displacement strength to trigger a signal
o (float) : The source series on which calculations are based
c (float) : The source series on which calculations are based
Returns: a tuple of (bool signal, float displacement_strength)
Liquidity Sweeps and RaidsThis basic script calculates and plots runs on liquidity levels through Raids and Sweeps. When the price violates the 3 fractal level, a raid or sweep occurs. You can use it to automate markup, understand liquidity levels, and reduce human error in your analysis. Additionally, you can set up an alarm to notify you when new sweeps or raids occur. Combine it with your current strategy or try any price action theory you prefer. Essentially, the price always seeks liquidity, so when some of it is taken, it makes sense to look for a reaction and potential reversal. Stay ahead by capitalizing on liquidity insights for potential reversals. Cheers, Cancamurria.
K's Pivot PointsPivot points are a popular technical analysis tool used by traders to identify potential levels of support and resistance in a given timeframe. Pivot points are derived from previous price action and are used to estimate potential price levels where an asset may experience a reversal, breakout, or significant price movement.
The calculation of pivot points involves a simple formula that takes into account the high, low, and close prices from the previous trading session or a specific period. The most commonly used pivot point calculation method is the "Standard" or "Classic" method. Here's the formula:
Pivot Point (P) = (High + Low + Close) / 3
In addition to the pivot point itself, several support and resistance levels are calculated based on the pivot point value.
K's Pivot Points try to enhance them by incorporating multiple elements and by applying a re-integration strategy to validate two events:
* Found_Support: This event represents a basing market that is bound to recover or at least shape a bounce.
* Found_Resistance: This event represents a toppish market that is bound to consolidate or at least shape a pause.
K's Pivot Points are calculated following these steps:
1. Calculate the highest of highs for the previous 24 periods (preferably hours).
2. Calculate the lowest of lows for the previous 24 periods (preferably hours).
3. Calculate a 24-period (preferably hours) moving average of the close price.
4. Calculate K's Pivot Point as the average between the three previous step.
5. To find the support, use this formula: Support = (Lowest K's pivot point of the last 12 periods * 2) - Step 1
6. To find the resistance, use this formula: Resistance = (Highest K's pivot point of the last 12 periods * 2) - Step 2
The re-integration strategy to find support and resistance areas is as follows:
* A support has been found if the market breaks the support and shapes a close above it afterwards.
* A resistance has been found if the market surpasses the resistance and shapes a close below it afterwards.
The lookback period (whether 24 and 12) can be modified but the default versions work well.
Price Delta HeatmapThe Price Delta Heatmap is an indicator designed to visualize the price changes of an asset over time. It helps traders identify and analyze significant price movements and potential volatility. The indicator calculates the price delta, which is the difference between the current close price and the previous close price. It then categorizes the price deltas into different color ranges to create a heatmap-like display on the chart.
The indicator uses user-defined thresholds to determine the color ranges. These thresholds represent the minimum price change required for a specific color to be assigned. The thresholds are adjustable to accommodate different asset classes and trading strategies. Positive price deltas are associated with bullish movements, while negative price deltas represent bearish movements.
The indicator plots bars color-coded according to the price delta range it falls into. The color ranges can be customized to match personal preferences or specific trading strategies. Additionally, the indicator includes signal shapes below the bars to highlight significant positive or negative price deltas. Traders can adjust the threshold values based on their preferred sensitivity to price changes. Higher threshold values may filter out minor price movements and focus on more significant shifts, while lower threshold values will capture even minor fluctuations.
****The default settings have the thresholds set to levels of 100, 50, 20, 10, 0, -10, -20, -50, and -100. These numbers are well-suited for assets such as Ethereum or Bitcoin which are larger in price than an asset that has a price of $1.50, for example. To compensate, adjust the thresholds in the settings to reflect the price delta on the desired asset. All coloration and horizontal line plots will adjust to reflect these changes.****
Traders can interpret the Price Delta Heatmap as follows:
-- Bright green bars indicate the highest positive price deltas, suggesting strong bullish price movements.
-- Green bars represent positive price deltas above the third threshold, indicating significant bullish price changes.
-- Olive bars indicate positive price deltas above the second threshold, suggesting moderate bullish price movements.
-- Yellow bars represent positive price deltas above the lowest threshold, indicating minor bullish price changes. This color is reflected on the negative side as well. Yellow bars below zero indicate negative price deltas below the lowest threshold, suggesting minor bearish price changes.
-- White bars represent zero price deltas, indicating no significant price movement.
-- Orange bars represent negative price deltas below the second threshold, indicating moderate bearish price movements.
-- Red bars indicate negative price deltas below the third threshold, suggesting significant bearish price changes.
-- Maroon bars represent the lowest negative price deltas, indicating strong bearish price movements.
The coloration of the Price Delta line itself is determined by the line's relation to the second positive and second negative thresholds (default +/- 20) - if the line is above the second positive threshold, the line is colored lime (and is reflected in a lime arrow at the bottom of the indicator); if the line is below the second negative threshold, the line is colored fuchsia (also reflected as an arrow); if the line is between thresholds, it is colored aqua.
The Price Delta Heatmap can be used in various trading strategies and applications. Some potential use cases include:
-- Trend identification : The indicator helps traders identify periods of high volatility and potential trend reversals.
-- Volatility analysis : By observing the color changes in the heatmap, traders can gauge the volatility of an asset and adjust their risk management strategies accordingly.
-- Confirmation tool : The indicator can be used as a confirmation tool alongside other technical indicators, such as trend-following indicators or oscillators.
-- Breakout trading : Traders can look for price delta bars of a specific color range to identify potential breakout opportunities.
However, it's important to note that the Price Delta Heatmap has certain limitations. These include:
-- Lagging nature : The indicator relies on historical price data, which means it may not provide real-time insights into price movements.
-- Sensitivity to thresholds : The choice of threshold values affects the indicator's sensitivity and may vary depending on the asset being traded. It requires experimentation and adjustment to find optimal values.
-- Market conditions : The indicator's effectiveness may vary depending on market conditions, such as low liquidity or sudden news events.
Traders should consider using the Price Delta Heatmap in conjunction with other technical analysis tools and incorporate risk management strategies to enhance their trading decisions.
Price based concepts / quantifytools- Overview
Price based concepts incorporates a collection of multiple price action based concepts. Main component of the script is market structure, on top of which liquidity sweeps and deviations are built on, leaving imbalances the only standalone concept included. Each concept can be enabled/disabled separately for creating a selection of indications that one deems relevant for their purposes. Price based concepts are quantified using metrics that measure their expected behavior, such as historical likelihood of supportive price action for given market structure state and volume traded at liquidity sweeps. The concepts principally work on any chart, whether that is equities, currencies, cryptocurrencies or commodities, charts with volume data or no volume data. Essentially any asset that can be considered an ordinary speculative asset. The concepts also work on any timeframe, from second charts to monthly charts. None of the indications are repainted.
Market structure
Market structure is an analysis of support/resistance levels (pivots) and their position relative to each other. Market structure is considered to be bullish on a series of higher highs/higher lows and bearish on a series of lower highs/lower lows. Market structure shifts from bullish to bearish and vice versa on a break of the most recent pivot high/low, indicating weak ability to defend a key level from the dominating side. Supportive market structure typically provides lengthier and sustained trending environment, making it an ideal point of confluence for establishing directional bias for trades.
Liquidity sweeps
Liquidity sweeps are formed when price exceeds a pivot level that served as a provable level of demand once and is expected to display demand again when revisited. A simple way to look at liquidity sweeps is re-tests of untapped support/resistance levels.
Deviations
Deviations are formed when price exceeds a reference level (market structure shift level/liquidity sweep level) and shortly closes back in, leaving participating breakout traders in an awkward position. On further adverse movement, stuck breakout traders are forced to cover their underwater positions, creating ideal conditions for a lengthier reversal.
Imbalances
Imbalances, also known as fair value gaps or single prints, depict areas of inefficient and one sided transacting. Given inclination for markets to trade efficiently, price is naturally attracted to areas that lack proper participation, making imbalances ideal targets for entries or exits.
Key takeaways
- Price based concepts consists of market structure, liquidity sweeps, deviations and imbalances.
- Market structure shifts from bullish to bearish and vice versa on a break of the most recent pivot high/low, indicating weak ability to defend a key level from the dominating side.
- Supportive market structure tends to provide lengthier and sustained movement for the dominating side, making it an ideal foundation for establishing directional bias for trades.
- Liquidity sweeps are formed when price exceeds an untapped support/resistance level that served as a provable level of demand in the past, likely to show demand again when revisited.
- Deviations are formed when price exceeds a key level and shortly closes back in, leaving breakout traders in an awkward position. Further adverse movement compels trapped participants to cover their positions, creating ideal conditions for a reversal.
- Imbalances depict areas of inefficient and one sided transacting where price is naturally attracted to, making them ideal targets for entries or exits.
- Price based concepts are quantified using metrics that measure expected behavior, such as historical likelihood of supportive structure and volume traded at liquidity sweeps.
- For practical guide with practical examples, see last section.
Accessing script 🔑
See "Author's instructions" section, found at bottom of the script page.
Disclaimer
Price based concepts are not buy/sell signals, a standalone trading strategy or financial advice. They also do not substitute knowing how to trade. Example charts and ideas shown for use cases are textbook examples under ideal conditions, not guaranteed to repeat as they are presented. Price based concepts notify when a set of conditions are in place from a purely technical standpoint. Price based concepts should be viewed as one tool providing one kind of evidence, to be used in conjunction with other means of analysis.
Price based concepts are backtested using metrics that reasonably depict their expected behaviour, such as historical likelihood of supportive price movement on each market structure state. The metrics are not intended to be elaborate and perfect, but to serve as a general barometer for feedback created by the indications. Backtesting is done first and foremost to exclude scenarios where the concepts clearly don't work or work suboptimally, in which case they can't be considered as valid evidence. Even when the metrics indicate historical reactions of good quality, price impact can and inevitably does deviate from the expected. Past results do not guarantee future performance.
- Example charts
Chart #1 : BTCUSDT
Chart #2 : EURUSD
Chart #3 : ES futures
Chart #4 : NG futures
Chart #5 : Custom timeframes
- Concepts
Market structure
Knowing when price has truly pivoted is much harder than it might seem at first. In this script, pivots are determined using a custom formula based on volatility adjusted average price, a fundamentally different approach to the widely used highest/lowest price within X amount of bars. The script calculates average price within set period and adjusts it to volatility. Using this formula, the script determines when price has turned significantly enough and aggressively enough to constitute a relevant pivot, resulting in high accuracy while ruling out subjective decision making completely. Users can adjust length of market structure basis and sensitivity of volatility adjustment to achieve desired magnitude of pivots, reflected on the average swing metrics. Note that structure pivots are backpainted. Typical confirmation time for a pivot is within 2-3 bars after peak in price.
Market structure shifts
Generally speaking, traders consider market structure to have shifted when most recent structure high/low gets taken out, flipping underlying bias from one side over to the other (e.g. from bullish structure favoring upside to bearish structure favoring downside). However, there are many ways to approach the concept and the most popular method might not always be the best one. Users can determine their own market structure shift rules by choosing source (close, high, low, ohlc4 etc.) for determining structure shift. Users can also choose additional rules for structure shift, such as two consecutive closes above/below pivot to qualify as a valid shift.
Liquidity sweeps
Users can set maximum amount of bars liquidity levels are considered relevant from the moment of confirmed pivot. By default liquidity levels are monitored for 250 bars and then discarded. Level of tolerance can be set to anything between 100 and 1000 bars. For each liquidity sweep, relative volume (volume relative to volume moving average) is stored and added to average calculations for keeping track of typical depth of liquidity found at sweeps.
Deviations
Users can set a maximum amount of bars price has to spend above/below reference level to consider a deviation to be in place. By default set to 6 bars.
Imbalances
Users can set a desired fill point for imbalances using the following options: 100%, 75%, 50%, 25%. Users can also opt for excluding insignificant imbalances to attain better relevance in indications.
- Backtesting
Built-in backtesting is based on metrics that are considered to reasonably quantify expected behaviour of the main concept, market structure. Structure feedback is monitored using two metrics, supportive structure and structure period gain. Rest of the metrics provided are informational in nature, such as average swing and average relative volume traded at liquidity sweeps. Main purpose of the metrics is to form a general barometer for monitoring whether or not the concepts can be viewed as valid evidence. When the concepts are clearly not working optimally, one should adjust expectations accordingly or take action to improve performance. To make any valid conclusions of performance, sample size should also be significant enough to eliminate randomness effectively. If sample size on any individual chart is insufficient, one should view feedback scores on multiple correlating and comparable charts to make up for the loss.
For more elaborate backtesting, price based concepts can be used in any other script that has a source input, including fully mechanic strategies utilizing Tradingview's native backtester. Each concept and their indications (e.g. higher low on a bearish structure, lower high on a bullish structure, market structure shift up, imbalance filled etc.) can be utilized separately and used as a component in a backtesting script of your choice.
Structure feedback
Structure feedback is monitored using two metrics, likelihood of supportive price movement following a market structure shift and average structure period gain. If either of the two employed tests indicate failed reactions beyond a tolerable level, one should take action to improve feedback by adjusting the settings. If feedback metrics after adjusting the settings are still insufficient, the concepts are working suboptimally for the given chart and cannot be regarded as valid technical evidence as they are.
Metric #1 : Supportive structure
Each structure pivot is benchmarked against its respective structure shift level. Feedback is considered successful if structure pivot takes place above market structure shift level (in the case of bullish structure) or below market structure shift level (in the case of bearish structure). Structure feedback constitutes as one test indicating how often a market structure state results in price movement that can be considered supportive.
Metric #2 : Structure period gain
Each structure period is expected to present favorable appreciation, measured from one market structure shift level to another. E.g. bullish structure period gain is measured from market structure shift up level to market structure shift down level that ends the bullish structure period. Bearish structure is measured in a vice versa manner, from market structure shift down level to market structure shift up level that ends the bearish structure period. Feedback is considered successful if average structure period gain is supportive for a given structure (positive for bullish structure, negative for bearish structure).
Additional metrics
On top of structure feedback metrics, percentage gain for each swing (distance between a pivot to previous pivot) is recorded and stored to average calculations. Average swing calculations shed light on typical pivot magnitude for better understanding changes made in market structure settings. Average relative volume traded at liquidity sweep on the other hand gives a clue of depth of liquidity typically found on a sweeps.
Feedback scores
When market structure (basis for most concepts) is working optimally, quality threshold for both feedback metrics are met. By default, threshold for supportive structure is set to 66%, indicating valid feedback on 2/3 of backtesting periods on average. On top, average structure period gain needs to be positive (for bullish structures) and negative (for bearish structure) to qualify as valid feedback. When both tests are passed, a tick indicating valid feedback will appear next to feedback scores, otherwise an exclamation mark indicating suboptimal performance on either or both. If both or either test fail, market structure parameters need to be optimized for better performance or one needs to adjust expectations accordingly.
Verifying backtest calculations
Backtest metrics can be toggled on via input menu, separately for bullish and bearish structure. When toggled on, both cumulative and average counters used in backtesting will appear on "Data Window" tab. Calculation states are shown at a point in time where cursor is hovered. E.g. when hovering cursor on 4th of January 2021, backtest calculations as they were during this date will be shown.
- Alerts
Available alerts are the following.
- HH/HL/LH/LL/EQL/EQH on a bullish/bearish structure
- Bullish/bearish market structure shift
- Bullish/bearish imbalance created
- Bullish/bearish imbalance filled
- Bullish/bearish liquidity sweep
- Bullish/bearish deviation
- Visuals
Each concept can be enabled/disabled separately for creating a selection indications that one deems relevant for their purposes. On top, each concept has a stealth visual option for more discreet visuals.
Unfilled imbalances and untapped liquidity levels can be extended forward to better gauge key areas of interest.
Liquidity sweeps have an intensity option, using color and width to visualize volume traded at sweep.
Market structure states and market structure shifts can be visualized as chart color.
Metric table can be offsetted horizontally or vertically from any four corners of the chart, allowing space for tables from other scripts.
Table sizes, label sizes and colors are fully customizable via input menu.
- Practical guide
The basic idea behind market structure is that a side (bulls or bears) have shown significant weakness on a failed attempt to defend a key level (most recent pivot high/low). In the same way, a side has shown significant strength on a successful attempt to break through a key level. This successful break through a key level often leads to sustained lengthier movement for the side that provably has the upper hand, making it an ideal tool for establishing directional bias.
Multi-timeframe view of market structure provides crucial guidance for analyzing market structure states on any individual timeframe. If higher timeframe market structure is bullish, it doesn't make sense to expect contradicting lower timeframe market structure to provide significant adverse movement, but rather a normal correction within a long term trend. In the same way, if lower timeframe market structure is in agreement with higher timeframe market structure, one can expect a reliable trending environment to ensue as multiple points of confluence are in place.
Bullish structure can be considered constructive on a series of higher highs and higher lows, indicating strong interest from bulls to sustain an uptrend. Vice versa is true for bearish structure, a series of lower highs and lower lows can be considered constructive. When structure does not indicate strong interest to maintain a supportive trend (lower highs on bullish structure, higher lows on bearish structure), a structure shift and a turn in trend might be nearing.
Market structure shifts are of great interest for breakout traders who position for continuation. Structure shifts can indeed be fertile ground for executing a breakout trade, but breakouts can easily turn into fakeouts that leave participants in an awkward position. When price moves further away from the underwater participants, potential for snowball effect of covering positions and driving price further away is elevated.
Liquidity sweeps as a concept is based on the premise that pivoting price is evidence of meaningful depth of liquidity found at/around pivot. If liquidity existed at a pivot once, it is likely to exist there in the future as well. When price grinds against liquidity, it is on a path of resistance rather than path of least resistance. Pivots are also attractive placements for traders to set stop-losses, which act as fuel for price to move to the opposite direction when swept and triggered.
Behind tightly formed pivots are potentially many stop-loss orders lulled in the comfort of having many layers of levels protecting their position. Compression that leaves such clusters of unswept liquidity rarely goes unvisited.
As markets strive for efficient and proper transacting most of the time, imbalances serve as points in price where price is naturally attracted to. However, imbalances too are contextual and sometimes one sided trading is rewarded with follow through, rather than with a fill. Identifying market regimes give further clue into what to expect from imbalances. In a ranging environment, one can expect imbalances to fill relatively quick, making them ideal targets for entries and exits.
On a strongly trending environment on the other hand imbalances tend to stick for a much longer time. In such environments continuation can be expected with no fills or only partial fills. Signs of demand preventing fill attempts serve as additional clues for imminent continuation.
Session Tick-BoxThe "Session Tick-Box" is designed to display session-related information on the chart (HIGH/LOW box). Here's a breakdown of its features and functionalities:
Session Settings:
You can specify different sessions such as the Cash Session, Asian Session, European Session, and Offset Session using the input.session() function.
The sat.session_tick() function is used to calculate the low, high, fill color, open bar status, and session open status for each session.
Display Settings:
You have the option to show a new daily session using the separateDays input. The background color for the new session can be customized using the Day_Bg input.
The colorDays input allows you to enable or disable coloring the background based on different days of the week.
You can customize the colors for the Cash, Asian, European, and Offset sessions using the respective color inputs.
Other Features:
The indicator calculates the percentage change between the low and high of each session using the sat.AbsPercentChange() function.
Labels are added to mark the high and low points of the sessions.
A vertical line is drawn between the low and high points of each session using the line.new() function.
The fill() function is used to create a shaded area between the low and high lines of each session.
Overall, the "Session Tick-Box" indicator provides visual representation and analysis of different sessions on the chart, including their respective ranges and percentage changes.
Market Structure & Price Action Toolkit (Expo)█ Overview
This comprehensive Market Structure and Price Action toolkit integrates pioneering price action concepts, including fractal-based market structure, grid-price action system, retail and institutional levels/zones, liquidity concepts, and a plethora of advanced customization options to give you a trading advantage via price action automatically. Different from traditional technical indicators, which can be lagging, complex, and cluttered, this indicator focuses solely on raw price data to deliver accurate and real-time insights. All the features in this script originate exclusively from price action, concentrating on fractals-based swing highs, swing lows, and market structure. This enables users to automate their price action analysis across any market or timeframe.
The toolkit focuses on the real-time application of price data rather than historical data to ensure its usefulness for price action and smart money (ICT) traders. With this indicator, users can automate their price action analysis across various markets and timeframes, gaining a significant edge in their trading strategies.
█ Features and How They Work
█ Trading Systems
Market Structure:
Market Structure deals with the interpretation of price action that forms the market structure, focusing on understanding key shifts and changes in the market that may indicate where 'smart money' (large institutional investors and professional traders) might be moving in the market. This feature is based on real-time fractals instead of static pivot points. Fractals are based on the idea that markets are patterned, and those patterns repeat themselves on all scales – hence, the term "fractal", which means "fraction of the whole". The function uses fractal zones that refer to areas where the price is likely to experience a change in direction. These zones are identified by observing a series of fractal points.
Grid:
The grid system works similarly to the market structure but displays the data as a grid of support and resistance zones. This is a new and unique approach to understanding market structure. It might be a more convenient way for traders to understand how to act.
█ Retail Zones
Support/Resistance:
Support and Resistance zone are often seen and displayed with a delay. This feature is 100% real-time and displays SR levels as the price reacts and forms new highs and lows.
Confirmed Support/Resistance:
As the name suggests, the confirmed zone is first displayed on the chart when the price has reacted to a high/low formation over x period of time. This feature is handy to trade retest after breakouts of the zone.
We wanted to keep the retail zones simple regarding how they work and function to help all kinds of traders understand how to use them.
█ Institutional Zones
Supply/Demand:
Calculating supply and demand in its raw form is challenging due to the complexity and dynamism of financial markets. However, the function uses several concepts to gauge supply and demand levels.
Buying and Selling pressure: The buying pressure represents the highest price point (over x period and volume), while the selling pressure price represents the lowest price point (over x period and volume). The gap between the two is known as the buying/selling pressure spread. A narrow spread often signifies high liquidity and balanced supply and demand, while a wider spread might indicate imbalances.
Price Trends: Upward price movements indicate higher demand, while downward trends may suggest increased supply.
Order blocks:
Order blocks are similar to supply/demand, and the main difference is that an order block is created at specific price action and market structure patterns.
█ How to use the Market Structure Toolkit
Market Structure
Market Structure + Confirmed S/R
Grid System
Demand Zone
Supply Zone
Order Block
Support/Resistance Zones
Confirmed Support/Resistance Zone
Retest of SR Levels
█ Why Use Price Action and Market Structure
A comprehensive trading strategy often involves using both price action and market structure. Traders can use price action to understand the immediate behavior of the price and market structure to understand the broader context within which the price is moving.
Market Structure combined with Price Action refers to the observable pattern of price movement. Traders use this structure to identify trend direction (up, down, or sideways), market phase (trend or range), and key price levels (like support and resistance).
Here are some core concepts within price action trading:
Trend Identification: This is a fundamental aspect of price action trading. By simply looking at the raw price data on a chart, traders can identify whether the instrument is in an uptrend (making higher highs and higher lows), a downtrend (making lower highs and lower lows), or ranging sideways.
Support and Resistance Levels: These are horizontal lines drawn on a chart where the price has historically had difficulty moving beyond. Support is a price level where buying pressure is strong enough to prevent the price from falling further, while resistance is a level where selling pressure is strong enough to prevent further price increases.
Candlestick Patterns: Price action traders rely heavily on candlestick patterns, which can provide a lot of information about market sentiment.
Chart Patterns: In addition to individual candlestick patterns, price action traders often look for larger chart patterns like double tops/bottoms, triangles, wedges, head and shoulders patterns, and more. These patterns can take longer to form but can also provide insight into potential price movement.
Price Zones: Rather than exact price levels, many price action traders consider zones of support and resistance, understanding that market behavior isn't always perfectly precise. A zone might cover a small range of prices at which the market has repeatedly reversed in the past.
The idea behind price action trading is that the price itself can provide clues to what the market might do next. Traders who follow this approach believe that price is the final determinant of value and contains all the information needed.
█ Any Alert Function Call
This function allows traders to combine any feature and create customized alerts. These alerts can be set for various conditions and customized according to the trader's strategy or preferences.
█ In conclusion, This toolkit is particularly useful for price action and smart money traders, as it prioritizes real-time application of price data, which in turn allows a more responsive and informed decision-making process in trading.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Price Percentage Shaded CandlesDescription:
The Price Percentage Shaded Candles indicator (P%SC) is a technical analysis tool designed to represent price candles on a chart with shading intensity based on the percentage change between the open and close prices. This overlay indicator enhances visual analysis by providing a visual representation of price movement intensity.
How it Works:
The P%SC indicator calculates the percentage change between the open and close prices of each candle. It then determines the shading intensity of the price candles based on this percentage change. Higher percentage changes result in darker shading, while lower percentage changes result in lighter shading.
Usage:
To effectively utilize the Price Percentage Shaded Candles indicator, follow these steps:
1. Apply the Price Percentage Shaded Candles indicator to your chart by adding it from the available indicators.
2. Configure the indicator's inputs:
- Specify the color for bullish candles using the "Bullish Color" input.
- Specify the color for bearish candles using the "Bearish Color" input.
3. Observe the shaded candles on the chart:
- Bullish candles are colored with the specified bullish color and shaded according to the percentage change.
- Bearish candles are colored with the specified bearish color and shaded according to the percentage change.
4. Interpret the shaded candles:
- Darker shading indicates a higher percentage change and stronger price movement during the corresponding candle.
- Lighter shading indicates a lower percentage change and weaker price movement during the corresponding candle.
5. Combine the analysis of shaded candles with other technical analysis tools, such as trend lines, support and resistance levels, or candlestick patterns, to identify potential trade setups.
6. Implement appropriate risk management strategies, including setting stop-loss orders and position sizing, to manage your trades effectively and protect your capital.
Note: The Price Percentage Shaded Candles indicator provides insights into the shading intensity of price candles based on percentage changes. However, it is recommended to use this indicator in conjunction with other technical analysis tools and perform thorough analysis before making trading decisions.
Price Percentage Breakout by Time PeriodDescription:
The Price Percentage Breakout by Time Period (P%BTP) indicator is a technical analysis tool designed to identify potential breakout signals based on the percentage change in price over a specified lookback period. It helps traders identify significant price movements that exceed a user-defined threshold, indicating potential trading opportunities.
How it Works:
The P%BTP indicator calculates the percentage change between the open and close prices of each candle. It compares this percentage change to the highest percentage change observed over the specified lookback period. When the percentage change exceeds or equals this highest value, it indicates a potential breakout signal. The indicator colors the bars on the chart based on whether it's a bullish or bearish breakout.
Usage:
To effectively utilize the Price Percentage Breakout by Time Period indicator, follow these steps:
1. Apply the P%BTP indicator to your chart by adding it from the available indicators.
2. Customize the input settings to suit your preferences. You can define the lookback period, which determines the number of bars used for calculating the percentage change, as well as choose colors for bullish and bearish breakouts.
3. Observe the bars on the chart:
- Bars highlighted in the bullish color indicate potential bullish breakout signals.
- Bars highlighted in the bearish color indicate potential bearish breakout signals.
4. Interpret the breakout signals:
- A bullish breakout signal occurs when the percentage change in price exceeds or equals the highest percentage change observed over the lookback period, indicating a potential upward movement.
- A bearish breakout signal occurs when the percentage change in price exceeds or equals the highest percentage change observed over the lookback period, indicating a potential downward movement.
5. Consider additional analysis:
- Combine the breakout signals from the P%BTP indicator with other technical analysis tools, such as support and resistance levels, trend lines, or candlestick patterns, to confirm potential trade setups.
6. Implement appropriate risk management strategies, including setting stop-loss orders and position sizing, to manage your trades effectively and protect your capital.
Note: The Price Percentage Breakout by Time Period indicator provides insights into potential breakout signals based on the percentage change in price over a specified lookback period. However, it is recommended to use this indicator in conjunction with other technical analysis tools and perform thorough analysis before making trading decisions.
Price Percentage Breakout by Chosen PercentageDescription:
The Price Percentage Breakout indicator (P%B) is a technical analysis tool designed to identify potential breakout signals based on percentage changes in price. It helps traders identify significant price movements that exceed a specified threshold, indicating potential trading opportunities.
How it Works:
The Price Percentage Breakout indicator calculates the percentage change between the open and close prices of each candle. It compares this percentage change to a user-defined threshold to determine if a breakout has occurred. When the percentage change exceeds the threshold, indicating a significant price movement, the indicator highlights the breakout on the chart. Additionally alerts can be created by the user that display the percentage of the breakout.
Usage:
To effectively utilize the Price Percentage Breakout indicator, follow these steps:
1. Apply the P%B indicator to your chart by adding it from the available indicators.
2. Customize the input settings to suit your preferences. You can choose the color for highlighting the breakout and set the percentage threshold for detecting breakouts.
3. Observe the bars on the chart:
- Bars highlighted in the chosen color indicate potential breakout signals.
4. Interpret the breakout signals:
- A breakout signal occurs when the percentage change in price exceeds the specified threshold. This suggests a significant price movement.
5. Consider additional analysis:
- Combine the breakout signals from the Price Percentage Breakout indicator with other technical analysis tools, such as support and resistance levels, trend lines, or candlestick patterns, to confirm potential trade setups.
6. Implement appropriate risk management strategies, including setting stop-loss orders and position sizing, to manage your trades effectively and protect your capital.
Note: The Price Percentage Breakout indicator provides insights into potential breakout signals based on percentage changes in price. However, it is recommended to use this indicator in conjunction with other technical analysis tools and perform thorough analysis before making trading decisions.
SMC Toolkit |ASE|This indicator provides 10+ features all-in-one. Focusing on price action and Smart Money concepts, we have provided automated multi-timeframe features such as Market Structure(BOS / CHoCH) to identify trends, Fair Value Gaps to identify Imbalances, and much more.
Pure price action analysis is a preferred strategy over indicators due to their lag and noise. Many traders popularized SMC or “Smart Money” concepts to identify and trade like/with institutions or Smart Money traders. We have automated these features and made them multi-timeframe to simplify your charting process and advance your trading so you can efficiently trade.
Features:
The included price action features are listed below:
- Multi-Timeframe Market Structure (BOS, CHoCH, MSS, IDM)
- Trend based Candle Coloring
- Multichart (Extra time frame on the same chart)
- Multi-Timeframe Fair Value Gaps & Balanced Price Ranges
- Trapped Market Participants (Multi-Time Frame based on Orderblocks)
- SMT Divergences
- Volume Imbalances
- Premium Discount Array
- Displacement Candles
- Previous OHLC (Daily, Weekly, Monthly)
- VWAP and Std.Dev. Waves
Benefits & Examples:
In the image below we can see plenty of trade setups that formed in confluence with the features we were using. Displayed we have higher timeframe FVGs as our point of interests, Market Structure (Trend Bar Coloring) as our entry confirmation, and Liquidity Levels as our targets.
In this image we can see the same setup as before, higher timeframe FVG with Market Structure reversal targeting a Liquidity Level. In addition we can see the Trapped Market Participants feature showing trapped sellers at the low which provides additional confluence for our long position and offers a cleaner and safer entry on the pullback.
Our goal is to provide as many useful features as possible, automating the process to make it easier and quicker for us as traders. We want to spend less time charting and more time planning proper trades.
Model Indicator |ASE|The purpose of this indicator is to allow the user to build their own model. Each feature works cohesively together and depending on the filters you enable, the model gives less and more specific entries. This benefits the trader because they have complete control over the kinds of trades they want to take, while maintaining its automatic form.
We want to be as customizable as possible while still meeting our users’ needs. We started this indicator to propel us into our ultimate project, the ASE Algo.
Features:
SMC Display
Current Structure:
Liquidity Levels:
Daily Premium Discount Array
SMT Divergence
Displacement Candles:
Entry Factors
FVG
Continuation FVGs
MTF FVGs
Order Blocks
MTF Order Blocks
Confluence Filters
MS Reversal
Liquidity Level Raid
Inducement
Daily Prem/Disc Array
Target Factors
Liquidity Level Targets
Current Structure Targets
Trade Management
Trade Overlay
Risk:Reward Target
Benefits & Examples:
In the image below the indicator signaled multiple entries based on two simple confluence filters, a MS reversal (CHoCH/MSS) and a Liquidity Raid. Going from left to right we can see a short entry at the highs with a supporting Order Block. Liquidity levels are taken before we see a double IDM right below the respected OB that leads to the next signaled entry. In the middle of the chart we see a long entry that leads right into a short entry showing the effectiveness of such a simple model.
In this supporting image we are showcasing the first implementation of the Trade Overlay feature. This feature displays the Entry and Stop Loss to make it more visible and adds a risk to reward target. Additionally displayed is the SMC Toolkit indicator showing us additional confirmation with our signaled entries playing right out of a higher timeframe FVG.
An additional entry feature is the MTF zone. Setups can form on all timeframes and subjecting yourself to only one may lead you to miss out on some perfect setups or a larger move. In the image below we are on the 1 minute timeframe. We can see the Initial Reversal Entry which played out beautifully and filled a higher timeframe SFVG. With the MTF zone we can see a 3 minute and 5 minute Zone which produces the rest of the trend reaching another higher timeframe SFVG after filling the previous one. Once again showing the benefit of the Toolkit indicator but the plotted entries from such a simple model.
In addition to the model indicators filtered out entry zone, we can use additional confluences to confirm these entries. In the image below we can see a short entry printed after a move out of the Std. Dev. vwap wave which shows over extension. Taking the entry we can have a tight stop loss at the vwap wave or the recent high where we have a liquidity level, targeting a lower liquidity level or higher timeframe FVG.
For this example we are only filtering based on MS Reversals (CHoCH/MSS) to get our entries. Because of this we need additional confirmation to be confident in taking the plotted entry. In the image below you can see a long signal printed, confirmation being the previous Failed Reversal.
RAM StrategyThe name RAM originated because of three popular technical indicators Relative Strength Index (RSI), Average True Range (ATR), and Moving average convergence/divergence were used all together to create three conditions individually first and once all three conditions meet at once then we considered a potential opportunity either for buy or sell and produce signals. Before we dive into how the strategy work let's clarify all the 3 indicators which has been used.
RSI (Relative Strength Index):
The RSI is a popular indicator used to assess the overbought and oversold conditions of a financial instrument. It measures the speed and change of price movements.
Overbought Level: The RSI Overbought Level is set to 65, indicating that when the RSI goes above this level, it suggests that the instrument may be overbought or overvalued.
Oversold Level: The RSI Oversold Level is set to 35, indicating that when the RSI goes below this level, it suggests that the instrument may be oversold or undervalued.
ATR (Average True Range):
The ATR is a volatility indicator that measures the average range between the high and low prices of a financial instrument. It provides insight into market volatility. There is an ATR calculation and ATR Simple Moving Average calculation done in the script which provides insights into market volatility. By comparing the current ATR value to its SMA, this indicator takes into consideration the volatility conditions while generating trading signals, aiming to capture potential price movements during periods of increased volatility.
MACD (Moving Average Convergence Divergence):
The MACD is a trend-following momentum indicator that helps identify potential trend reversals. It consists of two lines: the MACD Line and the Signal Line.
MACD Line: The MACD Line represents the difference between the short-term and long-term moving averages. Crossovers of the MACD Line above the Signal Line indicate potential buying opportunities.
Signal Line: The Signal Line is a moving average of the MACD Line. Crossovers of the MACD Line below the Signal Line indicate potential selling opportunities and crossovers of the MACD line above the signal line indicate potential buying opportunities.
Trading Strategy:
Buy Signal: A buy signal is generated when the RSI is below the oversold level, the ATR is higher than its Simple Moving Average (indicating higher volatility), and there is a bullish crossover of the MACD Line above the Signal Line.
Sell Signal: A sell signal is generated when the RSI is above the overbought level, the ATR is higher than its Simple Moving Average (indicating higher volatility), and there is a bearish crossover of the MACD Line below the Signal Line.
The plot shapes function is used to visually represent the buy and sell signals on the price chart. Green "BUY" labels are displayed below the price bars for buy signals, while red "SELL" labels are displayed above the price bars for sell signals.
This strategy aims to identify potential buying and selling opportunities based on the combination of RSI, ATR, and MACD indicators. However, please note that the effectiveness and profitability of the strategy may vary depending on market conditions and individual trading preferences.
*Disclaimer*
Trading involves risk. Also, clarify that past performance is not indicative of future results and that individuals should only trade with the capital they can afford to lose.
LNL Scalper ArrowsLNL Scalper Arrows
The indicator consist of various different types of candlestick patterns that are truly time tested by multiple veteran traders. These arrows are a combination of short-term scalping strategies taught by Linda Raschke & a trader that goes by name Quant Trade Edge. These strategies/patterns occur regularly within the markets. They offer high probability quick moves during the trending days. These four patterns are based on pure price action, no oscillators, no trend, no momentum indicators involved. Trend (ema) is there just as a simple trend gauge.
LNL Scalper Arrows were designed specifically for intra-day trading. Mostly useful for the futures but also stocks as well. These arrows can work anywhere between the fast-moving 512 or 1600 tick charts to a 1min, 2min and up to 5min or 10min charts.
Trend Gauge (Exponential Moving Average)
Nothing fancy just a classic EMA that can guide the direction of the short-term trend. I have added a custom coloring of the EMA that is based on a simple RSI filter. That should help to visualize the non-directional moments within the trend. Although the length is adjustable, for scalping it is better to focus on smaller periods such as 9, 13 or 20 or 34 but anything above 50 loses its purpose as a short-term trend gauge. Again, this is a scalping tool not a trend tool, you are not going to get rid of the fakeouts by increasing the period of the trend.
Tail Arrows (Eat the Tail Pattern)
Tail is a candlestick that is either a price rejection spike, or a flag continuation pattern on a lower time frame. A failed action. It is basically a candle with much bigger wick (shadow) of the candle than the actual body. Such candles are usually telling us about strong participation from the other side of the market. Eat the tail pattern occurs whenever the low of the Tail candle is immediately broken on a following candle "the tail is eaten alive". Such a breaks occurs in a most aggressive types of markets with a strong momentum. DO NOT try to trade this in a low volume or a ranging market. Tail Arrows are the most aggressive arrows & should be only used on the highest volume or a parabolic momentum markets.
Scalp Arrows (Scallop Pattern)
Known as Scallops or minor lows or highs, these patterns are the most common within the all scalper arrows. They occur regularly on 1min & 5min charts - basically everyday. Scallops provide the best possible risk to reward entry within the trend without the need of any indicators or oscillators. The Scallop Up 3 bar pattern consist of a high that is lower that the previous high but also low that is lower than the previous low. Scallop Up or a minor low triggers when the last high is broken, creating a three bar mountain or a peak within the 5 bar span.
Hoagie Arrows (Hoagie Pattern)
Hoagies occur way less often than any other scalping patterns. Hoagies represent two (or more) inside candles within the shadow of a first candle. Such a formation is creating a small compression or a range that sooner or later breaks out. The hoagie is triggered whenever the high or low of the shadow (first) candle is broken. The great thing about the hoagies is that they can work either way despite the trend direction. Although this indicator is coded for the 2 bar hoagies, there are no limitations on how much inside bars can hoagie include.
Umbrella Arrows (Umbrella Pattern)
Another really awesome 3 bar pattern that is really fun to trade. Umbrella occurs when the candle before the previous candle is a pin bar or a tail bar and the body of the previous candle is within the shadow or a wick of the candle before. The umbrella is triggered once the high or low of the previous bar is broken. Umbrellas are more frequent than Hoagies but occur much less than the Scallops.
Outside Bar Wedges (Outside Bar Pattern)
Pretty much self-explanatory candlestick pattern. Outside Bar is basically any bar that peaks outside of the both ends of the previous candle. So the range of the candle is higher & it looked beyond the high and beyond the low of the previous candle. These candles are signalizing the potenial momentum change. Ouside Bars usually occur at the tops or bottoms of the moves. I decided to add them because they can serve as a great addition to these scalping patterns.
Signal vs. SignalBreak Mode
The trigger can be viewed in two different ways:
1. Signal: Plots the trigger before the trigger bar, basically right when the pattern is formed but NOT YET triggered. The signal is triggered once the next candle break the high or low of the current candle.
2. SignalBrake: Plots the trigger after the break of the high or low of the actual pattern. It is basically a candle after the signal candle. (Signal is better for trading because it gives you time to prepare for the actual break of the high or low = the actual signal. SignalBrake is great for looking back in history only for the patterns that actually traded).
Pin Bar BTW Ratio
Pin Bar (Body-To-Wick) Ratio represents the size of the body of a pin bar candle for Eat the Tail and Umbrella patterns. Pin Bar BTW Ratio measures the ratio between the wick & the body of the candle. Ref. interval is 2.0 - 5.0 (ideal pin bar is 2.0 - 3.0 = the wick or a shadow is 2x - 3x bigger than the body of the candle)
ATR Stop & Target Labels
I also created three simple labels (tables) that can show you the ideal target & stop as well as the current ATR. Since LNL Scalper Arrows consist of high probability scalping patterns, a good rule of thumb to follow is to use a half of the current ATR as a target and a current ATR as a stop (or two times the target). So if the current 7 period ATR is 30 the target would be 15 pts. and a stop around 30 pts. With such a risk management you should aim for a win rate 70% or higher. Obviously you can adjust the risk management in the settings to your personal preference.
Low Range vs. High Range Markets
There are two major downsides with the Scalper Arrows:
1. You need volume and a volatility. These patterns really do struggle in ranging "boring" sideways action. It is absolutely crucial to recognize the current market environment and really stay cautions and (or completely out) in case the chop continues. Adding something like DMI can help you recognize the potential flat markets.
2. Not only do you need volume & momentum, you also need a decent range. This indicator works better on a rangy market such as NQ futures or YM. But are much tougher to trade on lower range markets such as some stocks or ZB futures or basically any other lower range market.
Hope it helps.
