Failed Breakout DetectionThis indicator is a reverse-engineered copy of the FBD Detection indicator published by xfuturesgod. The original indicator aimed at detecting "Failed Breakdowns". This version tracks the opposite signals, "Failed Breakouts". It was coded with the ES Futures 15 minute chart in mind but may be useful on other instruments and time frames.
The original description, with terminology reversed to explain this version:
'Failed Breakouts' are a popular set up for short entries.
In short, the set up requires:
1) A significant high is made ('initial high')
2) Initial high is undercut with a new high
3) Price action then 'reclaims' the initial high by moving +8-10 points from the initial high
This script aims at detecting such set ups. It was coded with the ES Futures 15 minute chart in mind but may be useful on other instruments and time frames.
Business Logic:
1) Uses pivot highs to detect 'significant' initial highs
2) Uses amplitude threshold to detect a new high above the initial high; used /u/ben_zen script for this
3) Looks for a valid reclaim - a red candle that occurs within 10 bars of the new high
4) Price must reclaim at least 8 points for the set up to be valid
5) If a signal is detected, the initial high value (pivot high) is stored in array that prevents duplicate signals from being generated.
6) FBO Signal is plotted on the chart with "X"
7) Pivot high detection is plotted on the chart with "P" and a label
8) New highs are plotted on the chart with a red triangle
Notes:
User input
- My preference is to use the defaults as is, but as always feel free to experiment
- Can modify pivot length but in my experience 10/10 work best for pivot highs
- New high detection - 55 bars and 0.05 amplitude work well based on visual checks of signals
- Can modify the number of points needed to reclaim a high, and the # of bars limit over which this must occur.
Alerts:
- Alerts are available for detection of new highs and detection of failed breakouts
- Alerts are also available for these signals but only during 7:30PM-4PM EST - 'prime time' US trading hours
Limitations:
- Current version of the script only compares new highs to the most recent pivot high, does not look at anything prior to that
- Best used as a discretionary signal
Cari dalam skrip untuk "breakout"
BB Breakout + Momentum Squeeze [Strategy]This Strategy is Based on 3 free indicators
- Bollinger Bands Breakout Oscillator: Link
- TTM Squeeze Pro: Link
- Rolling ATR Bands: Link
Bollinger Bands Breakout Oscillator - This tool shows how strong a market trend is by measuring how often prices move outside their normal Bollinger bands range. It helps you see whether prices are strongly moving in one direction or just moving sideways. By looking at how much and how frequently prices push beyond their typical boundaries, you can identify which direction the market is heading over your selected time period.
TM Squeeze Pro - This is a custom version of the TTM Squeeze indicator.
It's designed to help traders spot consolidation phases in the market (when price is coiling or "squeezing") and to catch breakouts early when volatility returns. The logic is based on the relationship between Bollinger Bands and Keltner Channels, combined with a momentum oscillator to show direction and strength.
Rolling ATR Bands - This indicator combines volatility bands (ATR) with momentum and trend signals to show where the market might be breaking out, retesting, or trending. It's highly visual and helpful for traders looking to time entries/exits during trending or volatile moves.
Logic Of the Strategy:
We are going to use the Bollinger Bands Breakout to determine the direction of the market. Than check the Volatility of the price by looking at the TTM Squeeze indicator. And use the ATR Bands to determine dynamic Stop Losses and based on the calculate the Take Profit targets and quantity for each position dynamically.
For the Long Setup:
1. We need to see the that Bull Power (Green line of the Bollinger Bands Breakout Oscilator) is crossing the level of 50.
2. Check the presence of volatility (Green dot based on the TTM Squeeze indicator)
For the Short Setup:
1. We need to see the that Bear Power (Red line of the Bollinger Bands Breakout Oscilator) is crossing the level of 50.
2. Check the presence of volatility (Green dot based on the TTM Squeeze indicator)
Stop Loss is determined by the Lower ATR Band (for the Long entry) and Upper ATR Band (For the Short entry)
Take Profit is 1:1.5 risk reward ration, which means if the Stop loss is 1% the TP target will be 1.5%
Move stop Loss to Breakeven: If the price will go in the direction of the trade for at least half of the Risk Reward target then the stop will automatically be adjusted to the entry price. For Example: the Stop Loss is 1%, the price has move at least 0.5% in the direction of your trade and that will move the Stop Loss level to the Entry point.
You can Adjust the parameters for each indicator used in that script and also adjust the Risk and Money management block to see how the PnL will change.
MLB Momentum IndicatorMLB Momentum Indicator is a no‐lookahead technical indicator designed to signal intraday trend shifts and potential reversal points. It combines several well‐known technical components—Moving Averages, MACD, RSI, and optional ADX & Volume filters—to deliver high‐probability buy/sell signals on your chart.
Below is an overview of how it works and what each part does:
1. Moving Average Trend Filter
The script uses two moving averages (fast and slow) to determine the primary trend:
isUpTrend if Fast MA > Slow MA
isDownTrend if Fast MA < Slow MA
You can select the MA method—SMA, EMA, or WMA—and customize lengths.
Why it matters: The indicator only gives bullish signals if the trend is up, and bearish signals if the trend is down, helping avoid trades that go against the bigger flow.
2. MACD Confirmation (Momentum)
Uses MACD (with user‐defined Fast, Slow, and Signal lengths) to check momentum:
macdBuySignal if the MACD line crosses above its signal line (bullish)
macdSellSignal if the MACD line crosses below its signal line (bearish)
Why it matters: MACD crossovers confirm an emerging momentum shift, aligning signals with actual price acceleration rather than random fluctuation.
3. RSI Overbought/Oversold Filter
RSI (Relative Strength Index) is calculated with a chosen length, plus Overbought & Oversold thresholds:
For long signals: the RSI must be below the Overbought threshold (e.g. 70).
For short signals: the RSI must be above the Oversold threshold (e.g. 30).
Why it matters: Prevents buying when price is already overbought or shorting when price is too oversold, filtering out possible poor‐risk trades.
4. Optional ADX Filter (Trend Strength)
If enabled, ADX must exceed a chosen threshold (e.g., 20) for a signal to be valid:
This ensures you’re only taking trades in markets that have sufficient directional momentum.
Why it matters: It weeds out choppy, sideways conditions where signals are unreliable.
5. Optional Volume Filter (High‐Participation Moves)
If enabled, the indicator checks whether current volume is above a certain multiple of its moving average (e.g., 1.5× average volume).
Why it matters: High volume often indicates stronger institutional interest, validating potential breakouts or reversals.
6. ATR & Chandelier (Visual Reference)
For reference only, the script can display ATR‐based stop levels or a Chandelier Exit line:
ATR (Average True Range) helps gauge volatility and can inform stop‐loss distances.
Chandelier Exit is a trailing stop technique that adjusts automatically as price moves.
Why it matters: Though this version of the script doesn’t execute trades, these lines help you see how far to place stops or how to ride a trend.
7. Final Bullish / Bearish Signal
When all conditions (trend, MACD, RSI, optional ADX, optional Volume) line up for a long, a green “Long” arrow appears.
When all conditions line up for a short, a red “Short” arrow appears.
Why it matters: You get a clear, on‐chart signal for each potential entry, rather than needing to check multiple indicators manually.
8. Session & Date Filtering
The script allows choosing a start/end date and an optional session window (e.g. 09:30–16:00).
Why it matters: Helps limit signals to a specific historical backtest range or trading hours, which can be crucial for day traders (e.g., stock market hours only).
Putting It All Together
Primary Trend → ensures you trade in line with the bigger direction.
MACD & RSI → confirm momentum and avoid overbought/oversold extremes.
ADX & Volume → optional filters for strong trend strength & genuine interest.
Arrows → each potential buy (Long) or sell (Short) signal is clearly shown on your chart.
Use Cases
5‐Minute Scalping: Shorter RSI/MACD lengths to catch small, frequent intraday moves.
Swing Trading: Larger MAs, bigger RSI thresholds, and using ADX to filter only major trends.
Cautious Approach: Enable volume & ADX filters to reduce false signals in choppy markets.
Benefits & Limitations
Benefits:
Consolidates multiple indicators into one overlay.
Clear buy/sell signals with optional dynamic volatility references.
Flexible user inputs adapt to different trading styles/timeframes.
Limitations:
Like all technical indicators, it can produce false signals in sideways or news‐driven markets.
Success depends heavily on user settings and the particular market’s behavior.
Summary
The MLB Momentum Indicator combines a trend filter (MAs), momentum check (MACD), overbought/oversold gating (RSI), and optional ADX/Volume filters to create clear buy/sell arrows on your chart. This approach encourages trading in sync with both trend and momentum, and helps avoid suboptimal entries when volume or trend strength is lacking. It can be tailored to scalp micro‐moves on lower timeframes or used for higher‐timeframe swing trading by adjusting the input settings.
Geometric Momentum Breakout with Monte CarloOverview
This experimental indicator uses geometric trendline analysis combined with momentum and Monte Carlo simulation techniques to help visualize potential breakout areas. It calculates support, resistance, and an aggregated trendline using a custom Geo library (by kaigouthro). The indicator also tracks breakout signals in a way that a new buy signal is triggered only after a sell signal (and vice versa), ensuring no repeated signals in the same direction.
Important:
This script is provided for educational purposes only. It is experimental and should not be used for live trading without proper testing and validation.
Key Features
Trendline Calculation:
Uses the Geo library to compute support and resistance trendlines based on historical high and low prices. The midpoint of these trendlines forms an aggregated trendline.
Momentum Analysis:
Computes the Rate of Change (ROC) to determine momentum. Breakout conditions are met only if the price and momentum exceed a user-defined threshold.
Monte Carlo Simulation:
Simulates future price movements to estimate the probability of bullish or bearish breakouts over a specified horizon.
Signal Tracking:
A persistent variable ensures that once a buy (or sell) signal is triggered, it won’t repeat until the opposite signal occurs.
Geometric Enhancements:
Calculates an aggregated trend angle and channel width (distance between support and resistance), and draws a perpendicular “breakout zone” line.
Table Display:
A built-in table displays key metrics including:
Bullish probability
Bearish probability
Aggregated trend angle (in degrees)
Channel width
Alerts:
Configurable alerts notify when a new buy or sell breakout signal occurs.
Inputs
Resistance Lookback & Support Lookback:
Number of bars to look back for determining resistance and support points.
Momentum Length & Threshold:
Period for ROC calculation and the minimum percentage change required for a breakout confirmation.
Monte Carlo Simulation Parameters:
Simulation Horizon: Number of future bars to simulate.
Simulation Iterations: Number of simulation runs.
Table Position & Text Size:
Customize where the table is displayed on the chart and the size of the text.
How to Use
Add the Script to Your Chart:
Copy the code into the Pine Script editor on TradingView and add it to your chart.
Adjust Settings:
Customize the inputs (e.g., lookback periods, momentum threshold, simulation parameters) to fit your analysis or educational requirements.
Interpret Signals:
A buy signal is plotted as a green triangle below the bar when conditions are met and the state transitions from neutral or sell.
A sell signal is plotted as a red triangle above the bar when conditions are met and the state transitions from neutral or buy.
Alerts are triggered only on the bar where a new signal is generated.
Examine the Table:
The table displays key metrics (breakout probabilities, aggregated trend angle, and channel width) to help evaluate current market conditions.
Disclaimer
This indicator is experimental and provided for educational purposes only. It is not intended as a trading signal or financial advice. Use this script at your own risk, and always perform your own research and testing before using any experimental tools in live trading.
Credit
This indicator uses the Geo library by kaigouthro. Special thanks to Cryptonerds and @Hazzantazzan for their contributions and insights.
KillZones + ACD Fisher [TradingFinder] Sessions + Reversal Level🔵 Introduction
🟣 ACD Method
"The Logical Trader" opens with a thorough exploration of the ACD Methodology, which focuses on pinpointing particular price levels associated with the opening range.
This approach enables traders to establish reference points for their trades, using "A" and "C" points as entry markers. Additionally, the book covers the concept of the "Pivot Range" and how integrating it with the ACD method can help maximize position size while minimizing risk.
🟣 Session
The forex market is operational 24 hours a day, five days a week, closing only on Saturdays and Sundays. Typically, traders prefer to concentrate on one specific forex trading session rather than attempting to trade around the clock.
Trading sessions are defined time periods when a particular financial market is active, allowing for the execution of trades.
The most crucial trading sessions within the 24-hour cycle are the Asia, London, and New York sessions, as these are when substantial money flows and liquidity enter the market.
🟣 Kill Zone
Traders in financial markets earn profits by capitalizing on the difference between their buy/sell prices and the prevailing market prices.
Traders vary in their trading timelines.Some traders engage in daily or even hourly trading, necessitating activity during periods with optimal trading volumes and notable price movements.
Kill zones refer to parts of a session characterized by higher trading volumes and increased price volatility compared to the rest of the session.
🔵 How to Use
🟣 Session Times
The "Asia Session" comprises two parts: "Sydney" and "Tokyo." This session begins at 23:00 and ends at 06:00 UTC. The "Asia KillZone" starts at 23:00 and ends at 03:55 UTC.
The "London Session" includes "Frankfurt" and "London," starting at 07:00 and ending at 14:25 UTC. The "London KillZone" runs from 07:00 to 09:55 UTC.
The "New York" session starts at 14:30 and ends at 19:25 UTC, with the "New York am KillZone" beginning at 14:30 and ending at 22:55 UTC.
🟣 ACD Methodology
The ACD strategy is versatile, applicable to various markets such as stocks, commodities, and forex, providing clear buy and sell signals to set price targets and stop losses.
This strategy operates on the premise that the opening range of trades holds statistical significance daily, suggesting that initial market movements impact the market's behavior throughout the day.
Known as a breakout strategy, the ACD method thrives in volatile or strongly trending markets like crude oil and stocks.
Some key rules for employing the ACD strategy include :
Utilize points A and C as critical reference points, continually monitoring these during trades as they act as entry and exit markers.
Analyze daily and multi-day pivot ranges to understand market trends. Prices above the pivots indicate an upward trend, while prices below signal a downward trend.
In forex trading, the ACD strategy can be implemented using the ACD indicator, a technical tool that gauges the market's supply and demand balance. By evaluating trading volume and price, this indicator assists traders in identifying trend strength and optimal entry and exit points.
To effectively use the ACD indicator, consider the following :
Identifying robust trends: The ACD indicator can help pinpoint strong, consistent market trends.
Determining entry and exit points: ACD generates buy and sell signals to optimize trade timing.
Bullish Setup :
When the "A up" line is breached, it’s wise to wait briefly to confirm it’s not a "Fake Breakout" and that the price stabilizes above this line.
Upon entering the trade, the most effective stop loss is positioned below the "A down" line. It's advisable to backtest this to ensure the best outcomes. The recommended reward-to-risk ratio for this strategy is 1, which should also be verified through backtesting.
Bearish Setup :
When the "A down" line is breached, it’s prudent to wait briefly to ensure it’s not a "Fake Breakout" and that the price stabilizes below this line.
Upon entering the trade, the most effective stop loss is positioned above the "A up" line. Backtesting is recommended to confirm the best results. The recommended reward-to-risk ratio for this strategy is 1, which should also be validated through backtesting.
Advantages of Combining Kill Zone and ACD Method in Market Analysis :
Precise Trade Timing : Integrating the Kill Zone strategy with the ACD Method enhances precision in trade entries and exits. The ACD Method identifies key points for trading, while the Kill Zone focuses on high-activity periods, together ensuring optimal timing for trades.
Better Trend Identification : The ACD Method’s pivot ranges help spot market trends, and when combined with the Kill Zone’s emphasis on periods of significant price movement, traders can more effectively identify and follow strong market trends.
Maximized Profits and Minimized Risks : The ACD Method's structured approach to setting price targets and stop losses, coupled with the Kill Zone's high-volume trading periods, helps maximize profit potential while reducing risk.
Robust Risk Management : Combining these methods provides a comprehensive risk management strategy, strategically placing stop losses and protecting capital during volatile periods.
Versatility Across Markets : Both methods are applicable to various markets, including stocks, commodities, and forex, offering flexibility and adaptability in different trading environments.
Enhanced Confidence : Using the combined insights of the Kill Zone and ACD Method, traders gain confidence in their decision-making process, reducing emotional trading and improving consistency.
By merging the Kill Zone’s focus on trading volumes and the ACD Method’s structured breakout strategy, traders benefit from a synergistic approach that enhances precision, trend identification, and risk management across multiple markets.
ICT KillZones + Pivot Points [TradingFinder] Support/Resistance 🟣 Introduction
Pivot Points are critical levels on a price chart where trading activity is notably high. These points are derived from the prior day's price data and serve as key reference markers for traders' decision-making processes.
Types of Pivot Points :
Floor
Woodie
Camarilla
Fibonacci
🔵 Floor Pivot Points
Widely utilized in technical analysis, floor pivot points are essential in identifying support and resistance levels. The central pivot point (PP) acts as the primary level, suggesting the trend's likely direction.
The additional resistance levels (R1, R2, R3) and support levels (S1, S2, S3) offer further insight into potential trend reversals or continuations.
🔵 Camarilla Pivot Points
Featuring eight distinct levels, Camarilla pivot points closely correspond with support and resistance, making them highly effective for setting stop-loss orders and profit targets.
🔵 Woodie Pivot Points
Similar to floor pivot points, Woodie pivot points differ by placing greater emphasis on the closing price, often resulting in different pivot levels compared to the floor method.
🔵 Fibonacci Pivot Points
Fibonacci pivot points combine the standard floor pivot points with Fibonacci retracement levels applied to the previous trading period's range. Common retracement levels used are 38.2%, 61.8%, and 100%.
🟣 Sessions
Financial markets are divided into specific time segments, known as sessions, each with unique characteristics and activity levels. These sessions are active at different times throughout the day.
The primary sessions in financial markets include :
Asian Session
European Session
New York Session
The timing of these major sessions in UTC is as follows :
Asian Session: 23:00 to 06:00
European Session: 07:00 to 14:25
New York Session: 14:30 to 22:55
🟣 Kill Zones
Kill zones are periods within a session marked by heightened trading activity. During these times, trading volume surges and price movements become more pronounced.
The timing of the major kill zones in UTC is :
Asian Kill Zone: 23:00 to 03:55
European Kill Zone: 07:00 to 09:55
New York Kill Zone: 14:30 to 16:55
Combining kill zones and pivot points in financial market analysis provides several advantages :
Enhanced Market Sentiment Analysis : Aligns key price levels with high-activity periods for a clearer market sentiment.
Improved Timing for Trade Entries and Exits : Helps better time trades based on when price movements are most likely.
Higher Probability of Successful Trades : Increases the accuracy of predicting market movements and placing profitable trades.
Strategic Stop-Loss and Profit Target Placement : Allows for precise risk management by strategically setting stop-loss and profit targets.
Versatility Across Different Time Frames : Effective in both short and long time frames, suitable for various trading strategies.
Enhanced Trend Identification and Confirmation : Confirms trends using both pivot levels and high-activity periods, ensuring stronger trend validation.
In essence, this integrated approach enhances decision-making, optimizes trading performance, and improves risk management.
🟣 How to Use
🔵 Two Approaches to Trading Pivot Points
There are two main strategies for trading pivot points: utilizing "pivot point breakouts" and "price reversals."
🔵 Pivot Point Breakout
When the price breaks through pivot lines, it signals a shift in market sentiment to the trader. In the case of an upward breakout, where the price crosses these pivot lines, a trader might enter a long position, placing their stop-loss just below the pivot point (P).
Conversely, if the price breaks downward, a short position can be initiated below the pivot point. When using the pivot point breakout strategy, the first and second support levels can serve as profit targets in an upward trend. In a downward trend, these roles are filled by the first and second resistance levels.
🔵 Price Reversal
An alternative method involves waiting for the price to reverse at the support and resistance levels. To implement this strategy, traders should take positions opposite to the prevailing trend as the price rebounds from the pivot point.
While this tool is commonly used in higher time frames, it tends to produce better results in shorter time frames, such as 1-hour, 30-minute, and 15-minute intervals.
Three Strategies for Trading the Kill Zone
There are three principal strategies for trading within the kill zone :
Kill Zone Hunt
Breakout and Pullback to Kill Zone
Trading in the Trend of the Kill Zone
🔵 Kill Zone Hunt
This strategy involves waiting until the kill zone concludes and its high and low lines are established. If the price reaches one of these lines within the same session and is strongly rejected, a trade can be executed.
🔵 Breakout and Pullback to Kill Zone
In this approach, once the kill zone ends and its high and low lines stabilize, a trade can be made if the price breaks one of these lines decisively within the same session and then pulls back to that level.
🔵 Trading in the Trend of the Kill Zone
Kill zones are characterized by high trading volumes and strong trends. Therefore, trades can be placed in the direction of the prevailing trend. For instance, if an upward trend dominates this area, a buy trade can be entered when the price reaches a demand order block.
Inside Bar Setup [as]Inside Bar Setup Indicator Description
The **Inside Bar Setup ** indicator is a powerful tool for traders to identify and visualize inside bar patterns on their charts. An inside bar pattern occurs when the current candle's high is lower than the previous candle's high, and the current candle's low is higher than the previous candle's low. This pattern can indicate a potential breakout or a continuation of the existing trend.
Key Features:
1. **Highlight Inside Bar Patterns:**
- The indicator highlights inside bar patterns with distinct colors for bullish and bearish bars. Bullish inside bars are colored with the user-defined bull bar color (default lime), and bearish inside bars are colored with the user-defined bear bar color (default maroon).
2. **Marking Mother Candle High and Low:**
- The high and low of the mother candle (the candle preceding the inside bar) are marked with horizontal lines. The high is marked with a green line, and the low is marked with a red line.
- These levels are labeled as "Range High" and "Range Low" respectively, with the labels displayed a few bars to the right for clarity. The labels have a semi-transparent background for better visibility.
3. **Target Levels:**
- The indicator calculates and plots potential target levels (T1 and T2) for both long and short positions based on user-defined multipliers of the mother candle's range.
- For long positions, T1 and T2 are plotted above the mother candle's high.
- For short positions, T1 and T2 are plotted below the mother candle's low.
- These target levels are optional and can be toggled on or off via the input settings.
4. **Customizable Inputs:**
- **Colors:**
- Bull Bar Color: Customize the color for bullish inside bars.
- Bear Bar Color: Customize the color for bearish inside bars.
- **Long Targets:**
- Show Long T1: Toggle the display of the first long target.
- Show Long T2: Toggle the display of the second long target.
- Long T1: Multiplier for the first long target above the mother candle's high.
- Long T2: Multiplier for the second long target above the mother candle's high.
- **Short Targets:**
- Show Short T1: Toggle the display of the first short target.
- Show Short T2: Toggle the display of the second short target.
- Short T1: Multiplier for the first short target below the mother candle's low.
- Short T2: Multiplier for the second short target below the mother candle's low.
5. **New Day Detection:**
- The indicator detects the start of a new day and clears the inside bar arrays, ensuring that the pattern detection is always current.
#### Usage:
- Add the indicator to your TradingView chart.
- Customize the inputs to match your trading strategy.
- Watch for highlighted inside bars to identify potential breakout opportunities.
- Use the marked range highs and lows, along with the calculated target levels, to plan your trades.
This indicator is ideal for traders looking to capitalize on inside bar patterns and their potential breakouts. It provides clear visual cues and customizable settings to enhance your trading decisions.
Note:
This indicator is based on famous 15 min inside bar strategy shared by Subashish Pani on his youtube channel Power of stocks. Please watch his videos to use this indicator for best results.
Pivot Extremes BreakoutI created the "Pivot Extremes Breakout" (PEB) indicator to easily spot breakout zones using pivot points. This tool comes from my need to anticipate market direction and capitalize on breakouts. PEB uses the last two pivot points to predict price paths and highlights potential breakout areas, adjusting for any timeframe. It simplifies seeing where the market might move next with color-coded lines and zones, aiming to improve your trading decisions.
Long-Only Opening Range Breakout (ORB) with Pivot PointsIntraday Trading Strategy: Long-Only Opening Range Breakout (ORB) with Pivot Points
Background:
Opening Range Breakout (ORB) is a popular long-only trading strategy that capitalizes on the early morning volatility in financial markets. It's based on the idea that the initial price movements during the first few minutes or hours of the trading day can set the tone for the rest of the session. The strategy involves identifying a price range within which the asset trades during the opening period and then taking long positions when the price breaks out to the upside of this range.
Pivot Points are a widely used technical indicator in trading. They represent potential support and resistance levels based on the previous day's price action. Pivot points are calculated using the previous day's high, low, and close prices and can help traders identify key price levels for making trading decisions.
How to Use the Script:
Initialization: This script is written in Pine Script, a domain-specific language for trading strategies on the TradingView platform. To use this script, you need to have access to TradingView.
Apply the Script: You can do this by adding it to your favorites, then selecting the script in the indicators list under favorites or by searching for it by name under community scripts.
Customize Settings: The script allows you to customize various settings through the TradingView interface. These settings include:
Opening Session: You can set the time frame for the opening session.
Max Trades per Day: Specify the maximum number of long trades allowed per trading day.
Initial Stop Loss Type: Choose between using a percentage-based stop loss or the previous candles low for stop loss calculations.
Stop Loss Percentage: If you select the percentage-based stop loss, specify the percentage of the entry price for the stop loss.
Backtesting Start and End Time: Set the time frame for backtesting the strategy.
Strategy Signals:
The script will display pivot points in blue (R1, R2, R3, R4, R5) and half-pivot points in gray (R0.5, R1.5, R2.5, R3.5, R4.5) on your chart.
The green line represents the opening range.
The script generates long (buy) signals based on specific conditions:
---The open price is below the opening range high (h).
---The current high price is above the opening range high.
---Pivot point R1 is above the opening range high.
---It's a long-only strategy designed to capture upside breakouts.
---It also respects the maximum number of long trades per day.
The script manages long positions, calculates stop losses, and adjusts long positions according to the defined rules.
Trailing Stop Mechanism
The script incorporates a dynamic trailing stop mechanism designed to protect and maximize profits for long positions. Here's how it works:
1. Initialization:
The script allows you to choose between two types of initial stop loss:
---Percentage-based: This option sets the initial stop loss as a percentage of the entry price.
---Previous day's low: This option sets the initial stop loss at the previous day's low.
2. Setting the Initial Stop Loss (`sl_long0`):
The initial stop loss (`sl_long0`) is calculated based on the chosen method:
---If "Percentage" is selected, it calculates the stop loss as a percentage of the entry price.
---If "Previous Low" is selected, it sets the stop loss at the previous day's low.
3. Dynamic Trailing Stop (`trail_long`):
The script then monitors price movements and uses a dynamic trailing stop mechanism (`trail_long`) to adjust the stop loss level for long positions.
If the current high price rises above certain pivot point levels, the trailing stop is adjusted upwards to lock in profits.
The trailing stop levels are calculated based on pivot points (`r1`, `r2`, `r3`, etc.) and half-pivot points (`r0.5`, `r1.5`, `r2.5`, etc.).
The script checks if the high price surpasses these levels and, if so, updates the trailing stop accordingly.
This dynamic trailing stop allows traders to secure profits while giving the position room to potentially capture additional gains.
4. Final Stop Loss (`sl_long`):
The script calculates the final stop loss level (`sl_long`) based on the following logic:
---If no position is open (`pos == 0`), the stop loss is set to zero, indicating there is no active stop loss.
---If a position is open (`pos == 1`), the script calculates the maximum of the initial stop loss (`sl_long0`) and the dynamic trailing stop (`trail_long`).
---This ensures that the stop loss is always set to the more conservative of the two values to protect profits.
5. Plotting the Stop Loss:
The script plots the stop loss level on the chart using the `plot` function.
It will only display the stop loss level if there is an open position (`pos == 1`) and it's not a new trading day (`not newday`).
The stop loss level is shown in red on the chart.
By combining an initial stop loss with a dynamic trailing stop based on pivot points and half-pivot points, the script aims to provide a comprehensive risk management mechanism for long positions. This allows traders to lock in profits as the price moves in their favor while maintaining a safeguard against adverse price movements.
End of Day (EOD) Exit:
The script includes an "End of Day" (EOD) exit mechanism to automatically close any open positions at the end of the trading day. This feature is designed to manage and control positions when the trading day comes to a close. Here's how it works:
1. Initialization:
At the beginning of each trading day, the script identifies a new trading day using the `is_newbar('D')` condition.
When a new trading day begins, the `newday` variable becomes `true`, indicating the start of a new trading session.
2. Plotting the "End of Day" Signal:
The script includes a plot on the chart to visually represent the "End of Day" signal. This is done using the `plot` function.
The plot is labeled "DayEnd" and is displayed as a comment on the chart. It signifies the EOD point.
3. EOD Exit Condition:
When the script detects that a new trading day has started (`newday == true`), it triggers the EOD exit condition.
At this point, the script proceeds to close all open positions that may have been active during the trading day.
4. Closing Open Positions:
The `strategy.close_all` function is used to close all open positions when the EOD exit condition is met.
This function ensures that any remaining long positions are exited, regardless of their current profit or loss.
The function also includes an `alert_message`, which can be customized to send an alert or notification when positions are closed at EOD.
Purpose of EOD Exit
The "End of Day" exit mechanism serves several essential purposes in the trading strategy:
Risk Management: It helps manage risk by ensuring that positions are not left open overnight when markets can experience increased volatility.
Capital Preservation: Closing positions at EOD can help preserve trading capital by avoiding potential adverse overnight price movements.
Rule-Based Exit: The EOD exit is rule-based and automatic, ensuring that it is consistently applied without emotions or manual intervention.
Scalability: It allows the strategy to be applied to various markets and timeframes where EOD exits may be appropriate.
By incorporating an EOD exit mechanism, the script provides a comprehensive approach to managing positions, taking profits, and minimizing risk as each trading day concludes. This can be especially important in volatile markets like cryptocurrencies, where overnight price swings can be significant.
Backtesting: The script includes a backtesting feature that allows you to test the strategy's performance over historical data. Set the start and end times for backtesting to see how the long-only strategy would have performed in the past.
Trade Execution: If you choose to use this script for live trading, make sure you understand the risks involved. It's essential to set up proper risk management, including position sizing and stop loss orders.
Monitoring: Monitor the long-only strategy's performance over time and be prepared to make adjustments as market conditions change.
Disclaimer: Trading carries a risk of capital loss. This script is provided for educational purposes and as a starting point for your own long-only strategy development. Always do your own research and consider seeking advice from a qualified financial professional before making trading decisions.
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.
Flag FinderFlag Finder Indicator is a technical analysis tool to identify bull and bear flags.
What are flags
Flags are continuation patterns that occur within the general trend of the security. A bull flag represents a temporary pause or consolidation before price resumes it's upward movement, while a bear flag occurs before price continues its downward movement.
Both flag patterns consist of two components:
The Pole
The Flag
The pole is the initial strong upward surge or decline that precedes the flag. The pole is usually a fast move accompanied by heavy volume signaling significant buying or selling pressure.
The flag is then formed as price consolidates after the initial surge or decline from the pole. For a bull flag price will drift slightly downward to sideways, a bear flag will drift upward to sideways. The best flags often see volume dry up during this phase of the pattern.
Indicator Settings
Both components are fully customizable in the indicator so the user can adjust for any time frame or volatility. Select the minimum and maximum accepted limits from the % gain loss required for the pole, the maximum acceptable flag depth or rally and the minimum and maximum number of bars for each component.
Colors and what components are visible at any time are also user controlled.
Trading flags
Traders typically use flags to enter on breakouts. A breakout occurs when price moves above the left side high of a bull flag or below the left side low of a bear flag.
Alerts
The Flag Finder allows for four different types of alerts
New Bull Flag
New Bear Flag
Bull Flag Breakout
Bear Flag Breakout
Pine Script
On top of the indicator identifying bull and bear flags, throughout the source code I left notes on nearly every line to help anyone who is interested in pine script see my thought process and explain which each line of code does. This code isn't too complex, but it offers a look into many different concepts one might use when writing pinescript such as:
input groups
declaring and reassigning variables
for loops
plotshapes & lines
alerts
Range H/L Buy and Sell SignalThe "Range H/L Buy and Sell Signal" indicator is designed to identify potential buy and sell signals based on a specified price range and market volatility. This indicator can be used in the TradingView platform to assist traders in making informed decisions.
The indicator allows customization of several parameters to adapt to different trading strategies. These parameters include the start and end times for the price range, the volatility threshold, and the desired breakout conditions.
To begin, the indicator calculates the range start and end timestamps based on the provided hours and minutes. This defines the time period within which the indicator will analyze price movements.
Next, the indicator determines the highest high (High) and lowest low (Low) within the specified price range. These levels represent the upper and lower boundaries of the range and act as potential breakout points.
Volatility is also taken into account to filter out false signals. The indicator calculates the true range and the average true range over a period of 14 bars. The true range measures the price range from the current high to low, while the average true range provides an indication of market volatility.
Based on the breakout conditions and the volatility threshold, buy and sell signals are generated. A buy signal occurs when the closing price crosses above the High and the true range is greater than the volatility threshold multiplied by the average true range. Conversely, a sell signal is triggered when the closing price crosses below the Low and the true range exceeds the volatility threshold multiplied by the average true range.
The indicator visually displays the High and Low levels as plotted lines on the chart. Additionally, it marks the buy signals with green labels labeled "BUY" below the corresponding bars and the sell signals with red labels labeled "SELL" above the bars.
It is important to note that this indicator should be used in conjunction with other technical analysis tools and indicators for comprehensive market analysis. Trading always carries risks, and it is crucial to exercise caution and conduct thorough analysis before making any trading decisions.
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.
tlc with False BreakoutThe strategy aims to identify a trend line channel with the potential for a false breakout. Here's an explanation of the strategy:
The script starts by defining the input parameters. The lookback parameter determines the number of previous bars to consider for detecting the trend lines, and the threshold parameter controls the sensitivity of the trend line detection.
The script then initializes variables to store the trend lines, tap count, and the false breakout signal.
Inside the loop, the script iterates over the specified number of bars (lookback) to identify the trend lines. It checks if the current high is greater than the previous and next highs to identify an upper trend line and sets it using the line.new function. Similarly, it checks if the current low is smaller than the previous and next lows to identify a lower trend line and sets it.
The script also keeps track of the price levels of the upper and lower trend lines using the variables upperTrendLinePrice and lowerTrendLinePrice. These price levels are obtained using the line.get_y1 function.
After the fourth tap (when tapCount is equal to 4), the script checks if the current close price is above the upper trend line or below the lower trend line. If this condition is met, it sets the falseBreakout variable to true, indicating a potential false breakout.
Finally, the script plots a shape marker (plotshape) when a false breakout occurs. This is represented by an orange label displayed below the bar.
At the end of the script, the line.delete function is used to remove the old trend lines when the script reaches the last bar (barstate.islast).
By using this strategy, you can visually identify trend line channels where the upper and lower lines touch higher highs or lower highs and higher lows or lower lows. Additionally, it provides a false breakout signal when the price breaks above the upper trend line or below the lower trend line on the fifth tap.
Volatility Breakout Strategy [Angel Algo]As traders, we're always looking for opportunities to profit from sudden price breakouts, and the Volatility Breakout Strategy aims to do just that.
This script is the perfect starting point for traders who want to experiment with capturing price movements resulting from increased volatility. The script plots the Average True Range (ATR) on the chart, which is a measure of the asset's volatility over a specified period. By setting the "Length" parameter, you can customize the period over which the volatility is measured.
Using the ATR, the strategy calculates upper and lower breakout levels and plots them on the chart. The signals for long and short positions are generated when the price crosses above the upper breakout level or below the lower breakout level, respectively. They are confirmed by checking the current bar state.
The strategy also fills the space between the upper and lower breakout levels with a color that indicates the latest signal direction. This feature helps traders quickly identify the prevailing trend.
The strategy uses the generated signals to enter trades. When a long or short signal is confirmed, and there is no open position in the direction of the signal, the strategy enters a long or short trade, respectively.
Choice of parameters.
Choosing the right value for the Length input parameter is crucial for tailoring the Volatility Breakout Strategy to suit your trading preferences. In general, a higher Length value implies a focus on capturing longer price moves. For instance, in this script, we have set the Length value to 20, resulting in trades that span approximately 100 candles. These trades encompass price trends consisting of multiple swings.
However, if your goal is to trade individual swings rather than longer trends, it's advisable to experiment with smaller values for the Length parameter. By reducing the Length, you can target shorter-term price movements and potentially increase the frequency of trades.
It's important to note that while a higher Length value tends to lead to longer trades, there is no strict correlation between the Length parameter and the average length of trades. This can vary across different markets. Therefore, it's essential to conduct thorough experimentation with various Length values and closely observe the length of trades they generate. Comparing these trade lengths with the average trend or swing length in the specific market can provide valuable insights.
Ideally, you should aim to select a Length value that aligns with the average trend or swing length observed in the market you are trading. This way, you can optimize the strategy to capture price movements that closely match the prevailing market conditions.
Remember, finding the optimal Length value is a process of trial and error, combined with careful observation of trade lengths and their correlation with market trends. So, don't be afraid to experiment and refine the Length parameter to maximize the effectiveness of the Volatility Breakout Strategy in your chosen market.
Disclaimer: This trading strategy is provided for educational and informational purposes only.Trading involves risk, and past performance is not indicative of future results.
Open DriveOpen Drive is a market profile concept introduced by Jim Dalton. It occurs when the price moves directionally and persistently for the first 30 minutes from the cash market open.
It is necessary to use 30-minute bars as there needs to be enough time to measure an extreme move of the cash open. This means there will be fewer trades than other strategies using faster time periodicities.
The script finds open drives from these time points 0700/ 0800 and 1300/1430.
The entry signal also has a breakout threshold using the 5-bar high and 5-bar low to only take trades moving away from the prior 5-bar range. This weeds out most mid-range trades and small range expansion bars.
If the price has had a strong move from the open and has broken either below the prior 5-bar low or above the prior 5-bar high by an amount equal to the prior 5-bar range a trade is entered in the direction of the move.
The Exit criteria; exit after 3 bars which is 90mins when using a 30min periodicity.
Note, this script is shared to show that momentum generated on or around the cash open tends to persist. The entry and exits of this strategy are quite naive but there are plenty of ways to take more aggressive entries on faster time frames when an open drive occurs. The times chosen for this strategy will suit stock index futures mainly. The user can experiment with other futures products and their corresponding pit/ cash open hours.
Google "open drive market profile" for more information on open drives and market profile concepts.
Happy trading!
Pivot BreaksThere are built-in and published Pivot Point High Low indicators in Public Library. As far as I see none of them show the breaking candles or the trend.
with the closing price crossing over the previous / current pivot high A bearish breakOut can either indicate the progression of a lower high pattern or a trend reversal
with the closing price crossing under the previous / current pivot low A bullish breakOut can either indicate the progression of a higher low pattern or a trend reversal
This indicator can show the first breaking candle or all breaking candles . It Can also show The Breaking state (Trend) based on the last break.
Alert Mode is included, colour can be customised, Higher TimeFrame can be requested (it Can also cause repainting)
Inputs are optional as possible so have fun with it
Disclaimer: Scripts that I post publicly are experimental. They are not financial advices. Always backtest your ideas using your own methodologies.
Linear Regression & RSI Multi-Function Screener with Table-LabelHi fellow traders..
Happy to share a Linear Regression & RSI Multi-Function Custom Screener with Table-Labels...
The Screener scans for Linear Regression 2-SD Breakouts and RSI OB/OS levels for the coded tickers and gives Summary alerts
Uses Tables (dynamica resizing) for the scanner output instead of standard labels!
This Screener cum indicator collection has two distinct objectives..
1. Attempt re-entry into trending trades.
2. Attempt Counter trend trades using linear regression , RSI and Zigzag.
Briefly about the Screener functions..
a. It uses TABLES as Labels a FIRST for any Screener on TV.
b. Tables dynamically resize based on criteria..
c. Alerts for breakouts of the UPPER and the LOWER regression channels.(2 SD)
d. In addition to LinReg it also Screens RSI for OB/OS levels so a multifunction Screener.
e. Of course has the standard summary Alerts and programmable format for Custom functions.
f. Uses only the inbuilt Auto Fib and Lin Reg code for the screener.(No proprietary stuff)
g. The auto Zigzag code is derived(Auto fib).
Question what are all these doing in a single screener ??
ZigZag is very useful in determining Trend Up or Down from one Pivot to another.
So Once you have a firm view of the Current Trend for your chosen timeframe and ticker…
We can consider few possible trading scenarios..
a. Re-entry in an Up Trend - Combination of OS Rsi And a Lower Channel breach followed by a re-entry back into the regression channel CAN be used as an effective re-entry.
b. Similarily one can join a Down Trend on OB Rsi and Upper Channel line breach followed by re-entry into the regression channel.
If ZigZag signals a range-bound market, bound within channel lines then the Upper breakout can be used to Sell and vice-versa!
In short many possibilities for using these functions together with Scanner and Alerts.
This facilitates timely PROFITABLE Trending and Counter trend opportunities across multiple tickers.
You must give a thorough READ to the various available tutorials on ZigZag / Regression and Fib retracements before attempting counter trend trades using these tools!!
A small TIP – Markets are sideways or consolidating 70% of the time!!
Acknowledgements: - Thanks a lot DGTRD for the Auto ZigZag code and also for the eagerness to help wherever possible..Respect!!
Disclaimer: The Alerts and Screener are just few tools among many and not any kind of Buy/Sell recommendations. Unless you have sufficient trading experience please consult a Financial advisor before investing real money.
*The alerts are set for crossovers however for viewing tickers trading above or below the channel use code in line 343 and 344 after setting up the Alerts!
** RSI alerts are disabled by default to avoid clutter, but if needed one can activate code lines 441,442,444 and 445
Wish you all, Happy Profitable Trading!
TrendLine ChannelsAbstract
This script provides a set of Trendline Channels which can be tighter than Donchian Channels.
This script computes the most suitable active upper and lower trendlines and updates them as soon as possible.
We can use it for breakout signals earlier than Donchian Channels.
Introduction
Channels are tools which can mark area of values of ranging markets.
Once the price leaves the original region, range traders may start admitting they are wrong and trigger trend.
Donchian Channels (misheard as Dungeon Channels) use the highest and the lowest price to define area of values.
When the price breakouts, it just like it got released from a dungeon.
However, waiting for the price making even higher or lower may be too late and risk reward ratio may be lower.
Trendlines can make the channels tighter and we can find earlier breakout signals.
Computing Trendline Channels
(1) Find the most active trendlines
In this script, a valid trendline connects two high values or two low values.
A high value means the highest value in a trading day.
A low value means the lowest value in a trading day.
In this script, every trendline does not crossover any bar but can exactly touch them.
The most flat trendline is taken. (one for upper and one for lower)
(2) Continue to use or Change a trendline
If there is a tighter trendline available, this script changes to use it.
If the previous active trendline is broken, this script re-computes the trendline available.
When this case happens, this script display with an another color.
Otherwise, this script continues using the previous trendline.
(3) Middle line
The middle line indicates the middle value between the upper and the lower.
Parameters
Length : how many days are used for computation. The default value is 16 just because 16=4*4, using binary characteristic.
x_go_on : If the previous trendline is not breakout and there are no tighter trendlines available, we continue use it.
Color Options
(1) Upper trendline (no update or tighter)
(2) Upper trendline (changed due to breakout)
(3) Middle line
(4) Lower trendline (no update or tighter)
(5) Lower trendline (changed due to breakout)
Conclusion
Trendline Channels can be tighter than Donchian Channels and evaluate earlier breakout signals.
Comparing to known auto trendline scripts, Trendline Channels is continuous.
Once a trendline is broken, Trendline Channels can instantly point out the next available one.
If you think the price movement is boring or you cannot have good risk reward ratio, you can go to an another timeframe.
Reference
How to trade with Donchian Channels
How to trade with Trendlines
SMT - Smart Money Thursday Boxes
The Smart Money Trading Thursday - is a very specific trading system. You only trade it on a Thursday.
The script/indicator will color Thursdays as two boxes. If you just want one color, use same color for
both boxes. The boxes is there to indicate London/New York sessions.
SETTINGS
In the setting you find a numeric value as 1700-0400:5
The "5" indicate Thursday. You can change that if you prefer to color another specific day.
For example "4" would indicate Wednesday. And you can change the hours to fit your
sessions and trading style.
You can also use the 2 boxes on different days. If you for example would like to color up
London for Wednesday and Thursday. Then set hours to fit London session and adjust the
:5 to 4 on the 1st box and 5 on the 2nd.
HOW TO USE IT?
The Smart Money works in a way retail trading does not. Smart Money has an objective
to locate retail patterns, where there will be a lot of stop loss volume to be grabbed.
So when a retail trader see a setup like a "Double Top / Bottom". The Institutional
will see $$$ of dumb money, ready to be taken. The best moves happen on a Thursday
but if you are a skilled trader, you can see the move also occur on Wednesday or Friday.
The first thing that will happen, is that the Smart Money Breaks out of session. Meaning
they will leave the current weeks high/low range. To start collect negative contracts
of the retail volume.
When you see that happen. And you see a breakout that consist of 4 in a row 1 hour
chart candles. Then you have your first rule meet.
#1 Thursday breakout of current weeks high/low. And the move is a clean 4 hour move
as 4x H1 candles. The move can start within range. But must end clearly outside.
Visual Example:
#2 Next, we await an engulf at peak or near peak. That is where Institutional
may have problem to match any more contracts, and since they used their own
money to make this move. They must now mitigate orders, and return back to
the original retail pattern as most retail traders are now stopped out.
(Normally this is a long/clear candle out of range. they rarely go lower
then retail traders entry in the 1st push. This to not save any souls :)
#3 Price returns back to where the breakout from the retail happens.
You can now take your profit as a Smart Money Trader. Trading with less risk,
you can take profit of the return of that latest 4x H1 candle move. (Order
Block)
CONCLUSION
The best trade is when you can combine a retail pattern, followed by a
breakout which holds 4x 1 hour candles in the outbreak direction.
2nd best is when you have the 4x H1 breakout and really no clear retail
pattern. Still is the same game. Just not as clear as the one above.
Study the steps in this image and you see what to look after:
Good Luck with your trading!
Regards,
The Hunter Trading Group
Big Breakout IndexBig Breakout Index is a great indicator for detecting breakouts. When the current close breaks out of consolidation, the indicator will tell you.
Green - Buy
Red - Sell
VWAP Stdev BandsCurrent price always obeys VWAP and is very useful for intraday traders. The Price will never go beyond the second deviation of VWAP at any point of time. The deviation bands are also very useful in predicting the volatility of the script.
Breakout trades can be taken based on the previous day's VWAP and it's deviations.
One can say that the stock has experienced breakout if current price crosses the fourth deviation of the previous day's VWAP or price bounces off that level, the price movement will be rapid if this occurs providing a good trading opportunity with low risk-reward ratio.
Systematic TF IndicatorThis is a simple trend following indicator which works off moving averages for trend bias and breakouts for entry.
CM_OldSchool_Projected_high_LowHeard this story from Larry Williams…the trader who holds the record for winning the U.S. Trading Championship by turning $10K in to 2 Million.
A trader named Owen Taylor developed this formula as a Floor Trader before to calculate the Projected High and Low of the next day.
The formula worked so well…Owen charged other Traders 1K to get it.
I was pretty impressed with the results…so I coded it for the Weekly, Monthly, Quarterly, and Yearly Projected High Low.
While Owen considered these levels to be major support and resistance, Larry has developed many strategies based on the Breakout of the Projected High Low.
Therefore I coded it so the Levels would plot Yellow, and change to Green if the Projected High was taken out, and Red if the Projected Low was taken out.
***I’ve noticed on many instruments, Stocks, Index’s, Forex etc., depending on the instrument it works great as Support/Resistance or Breakouts.
***On a Daily Chart put the Quarterly and Yearly levels on SPY and EURUSD and go back about 10 years. Levels are pretty accurate.
