Fibonacci Circle Zones🟩 The Fibonacci Circle Zones indicator is a technical visualization tool, building upon the concept of traditional Fibonacci circles. It provides configurable options for analyzing geometric relationships between price and time, used to identify potential support and resistance zones derived from circle-based projections. The indicator constructs these Fibonacci circles based on two user-selected anchor points (Point A and Point B), which define the foundational price range and time duration for the geometric analysis.
Key features include multiple mathematical Circle Formulas for radius scaling and several options for defining the circle's center point, enabling exploration of complex, non-linear geometric relationships between price and time distinct from traditional linear Fibonacci analysis. Available formulas incorporate various mathematical constants (π, e, φ variants, Silver Ratio) alongside traditional Fibonacci ratios, facilitating investigation into different scaling hypotheses. Furthermore, selecting the Center point relative to the A-B anchors allows these circular time-price patterns to be constructed and analyzed from different geometric perspectives. Analysis can be further tailored through detailed customization of up to 12 Fibonacci levels, including their mathematical values, colors, and visibility..
📚 THEORY and CONCEPT 📚
Fibonacci circles represent an application of Fibonacci principles within technical analysis, extending beyond typical horizontal price levels by incorporating the dimension of time. These geometric constructions traditionally use numerical proportions, often derived from the Fibonacci sequence, to project potential zones of price-time interaction, such as support or resistance. A theoretical understanding of such geometric tools involves considering several core components: the significance of the chosen geometric origin or center point , the mathematical principles governing the proportional scaling of successive radii, and the fundamental calculation considerations (like chart scale adjustments and base radius definitions) that influence the resulting geometry and ensure its accurate representation.
⨀ Circle Center ⨀
The traditional construction methodology for Fibonacci circles begins with the selection of two significant anchor points on the chart, usually representing a key price swing, such as a swing low (Point A) and a subsequent swing high (Point B), or vice versa. This defined segment establishes the primary vector—representing both the price range and the time duration of that specific market move. From these two points, a base distance or radius is derived (this calculation can vary, sometimes using the vertical price distance, the time duration, or the diagonal distance). A center point for the circles is then typically established, often at the midpoint (time and price) between points A and B, or sometimes anchored directly at point B.
Concentric circles are then projected outwards from this center point. The radii of these successive circles are calculated by multiplying the base distance by key Fibonacci ratios and other standard proportions. The underlying concept posits that markets may exhibit harmonic relationships or cyclical behavior that adheres to these proportions, suggesting these expanding geometric zones could highlight areas where future price movements might decelerate, reverse, or find equilibrium, reflecting a potential proportional resonance with the initial defining swing in both price and time.
The Fibonacci Circle Zones indicator enhances traditional Fibonacci circle construction by offering greater analytical depth and flexibility: it addresses the origin point of the circles: instead of being limited to common definitions like the midpoint or endpoint B, this indicator provides a selection of distinct center point calculations relative to the initial A-B swing. The underlying idea is that the geometric source from which harmonic projections emanate might vary depending on the market structure being analyzed. This flexibility allows for experimentation with different center points (derived algorithmically from the A, B, and midpoint coordinates), facilitating exploration of how price interacts with circular zones anchored from various perspectives within the defining swing.
Potential Center Points Setup : This view shows the anchor points A and B , defined by the user, which form the basis of the calculations. The indicator dynamically calculates various potential Center points ( C through N , and X ) based on the A-B structure, representing different geometric origins available for selection in the settings.
Point X holds particular significance as it represents the calculated midpoint (in both time and price) between A and B. This 'X' point corresponds to the default 'Auto' center setting upon initial application of the indicator and aligns with the centering logic used in TradingView's standard Fibonacci Circle tool, offering a familiar starting point.
The other potential center points allow for exploring circles originating from different geometric anchors relative to the A-B structure. While detailing the precise calculation for each is beyond the scope of this overview, they can be broadly categorized: points C through H are derived from relationships primarily within the A-B time/price range, whereas points I through N represent centers projected beyond point B, extrapolating the A-B geometry. Point J, for example, is calculated as a reflection of the A-X midpoint projected beyond B. This variety provides a rich set of options for analyzing circle patterns originating from historical, midpoint, and extrapolated future anchor perspectives.
Default Settings (Center X, FibCircle) : Using the default Center X (calculated midpoint) with the default FibCircle . Although circles begin plotting only after Point B is established, their curvature shows they are geometrically centered on X. This configuration matches the standard TradingView Fib Circle tool, providing a baseline.
Centering on Endpoint B : Using Point B, the user-defined end of the swing, as the Center . This anchors the circular projections directly to the swing's termination point. Unlike centering on the midpoint (X) or start point (A), this focuses the analysis on geometric expansion originating precisely from the conclusion of the measured A-B move.
Projected Center J : Using the projected Point J as the Center . Its position is calculated based on the A-B swing (conceptually, it represents a forward projection related to the A-X midpoint relationship) and is located chronologically beyond Point B. This type of forward projection often allows complete circles to be visualized as price develops into the corresponding time zone.
Time Symmetry Projection (Center L) : Uses the projected Point L as the Center . It is located at the price level of the start point (A), projected forward in time from B by the full duration of the A-B swing . This perspective focuses analysis on temporal symmetry , exploring geometric expansions from a point representing a full time cycle completion anchored back at the swing's origin price level.
⭕ Circle Formula
Beyond the center point , the expansion of the projected circles is determined by the selected Circle Formula . This setting provides different mathematical methods, or scaling options , for scaling the circle radii. Each option applies a distinct mathematical constant or relationship to the base radius derived from the A-B swing, allowing for exploration of various geometric proportions.
eScaled
Mathematical Basis: Scales the radius by Euler's number ( e ≈ 2.718), the base of natural logarithms. This constant appears frequently in processes involving continuous growth or decay.
Enables investigation of market geometry scaled by e , exploring relationships potentially based on natural exponential growth applied to time-price circles, potentially relevant for analyzing phases of accelerating momentum or volatility expansion.
FibCircle
Mathematical Basis: Scales the radius to align with TradingView’s built-in Fibonacci Circle Tool.
Provides a baseline circle size, potentially emulating scaling used in standard drawing tools, serving as a reference point for comparison with other options.
GoldenFib
Mathematical Basis: Scales the radius by the Golden Ratio (φ ≈ 1.618).
Explores the fundamental Golden Ratio proportion, central to Fibonacci analysis, applied directly to circular time-price geometry, potentially highlighting zones reflecting harmonic expansion or retracement patterns often associated with φ.
GoldenContour
Mathematical Basis: Scales the radius by a factor derived from Golden Ratio geometry (√(1 + φ²) / 2 ≈ 0.951). It represents a specific geometric relationship derived from φ.
Allows analysis using proportions linked to the geometry of the Golden Rectangle, scaled to produce circles very close to the initial base radius. This explores structural relationships often associated with natural balance or proportionality observed in Golden Ratio constructions.
SilverRatio
Mathematical Basis: Scales the radius by the Silver Ratio (1 + √2 ≈ 2.414). The Silver Ratio governs relationships in specific regular polygons and recursive sequences.
Allows exploration using the proportions of the Silver Ratio, offering a significant expansion factor based on another fundamental metallic mean for comparison with φ-based methods.
PhiDecay
Mathematical Basis: Scales the radius by φ raised to the power of -φ (φ⁻ᵠ ≈ 0.53). This unique exponentiation explores a less common, non-linear transformation involving φ.
Explores market geometry scaled by this specific phi-derived factor which is significantly less than 1.0, offering a distinct contractile proportion for analysis, potentially relevant for identifying zones related to consolidation phases or decaying momentum.
PhiSquared
Mathematical Basis: Scales the radius by φ squared, normalized by dividing by 3 (φ² / 3 ≈ 0.873).
Enables investigation of patterns related to the φ² relationship (a key Fibonacci extension concept), visualized at a scale just below 1.0 due to normalization. This scaling explores projections commonly associated with significant trend extension targets in linear Fibonacci analysis, adapted here for circular geometry.
PiScaled
Mathematical Basis: Scales the radius by Pi (π ≈ 3.141).
Explores direct scaling by the fundamental circle constant (π), investigating proportions inherent to circular geometry within the market's time-price structure, potentially highlighting areas related to natural market cycles, rotational symmetry, or full-cycle completions.
PlasticNumber
Mathematical Basis: Scales the radius by the Plastic Number (approx 1.3247), the third metallic mean. Like φ and the Silver Ratio, it is the solution to a specific cubic equation and relates to certain geometric forms.
Introduces another distinct fundamental mathematical constant for geometric exploration, comparing market proportions to those potentially governed by the Plastic Number.
SilverFib
Mathematical Basis: Scales the radius by the reciprocal Golden Ratio (1/φ ≈ 0.618).
Explores proportions directly related to the core 0.618 Fibonacci ratio, fundamental within Fibonacci-based geometric analysis, often significant for identifying primary retracement levels or corrective wave structures within a trend.
Unscaled
Mathematical Basis: No scaling applied.
Provides the base circle defined by points A/B and the Center setting without any additional mathematical scaling, serving as a pure geometric reference based on the A-B structure.
🧪 Advanced Calculation Settings
Two advanced settings allow further refinement of the circle calculations: matching the chart's scale and defining how the base radius is calculated from the A-B swing.
The Chart Scale setting ensures geometric accuracy by aligning circle calculations with the chart's vertical axis display. Price charts can use either a standard (linear) or logarithmic scale, where vertical distances represent price changes differently. The setting offers two options:
Standard : Select this option when the price chart's vertical axis is set to a standard linear scale.
Logarithmic : It is necessary to select this option if the price chart's vertical axis is set to a logarithmic scale. Doing so ensures the indicator adjusts its calculations to maintain correct geometric proportions relative to the visual price action on the log-scaled chart.
The Radius Calc setting determines how the fundamental base radius is derived from the A-B swing, offering two primary options:
Auto : This is the default setting and represents the traditional method for radius calculation. This method bases the radius calculation on the vertical price range of the A-B swing, focusing the geometry on the price amplitude.
Geometric : This setting provides an alternative calculation method, determining the base radius from the diagonal distance between Point A and Point B. It considers both the price change and the time duration relative to the chart's aspect ratio, defining the radius based on the overall magnitude of the A-B price-time vector.
This choice allows the resulting circle geometry to be based either purely on the swing's vertical price range ( Auto ) or on its combined price-time movement ( Geometric ).
🖼️ CHART EXAMPLES 🖼️
Default Behavior (X Center, FibCircle Formula) : This configuration uses the midpoint ( Center X) and the FibCircle scaling Formula , representing the indicator's effective default setup when 'Auto' is selected for both options initially. This is designed to match the output of the standard TradingView Fibonacci Circle drawing tool.
Center B with Unscaled Formula : This example shows the indicator applied to an uptrend with the Center set to Point B and the Circle Formula set to Unscaled . This configuration projects the defined levels (0.236, 0.382, etc.) as arcs originating directly from the swing's termination point (B) without applying any additional mathematical scaling from the formulas.
Visualization with Projected Center J : Here, circles are centered on the projected point J, calculated from the A-B structure but located forward in time from point B. Notice how using this forward-projected origin allows complete inner circles to be drawn once price action develops into that zone, providing a distinct visual representation of the expanding geometric field compared to using earlier anchor points. ( Unscaled formula used in this example).
PhiSquared Scaling from Endpoint B : The PhiSquared scaling Formula applied from the user-defined swing endpoint (Point B). Radii expand based on a normalized relationship with φ² (the square of the Golden Ratio), creating a unique geometric structure and spacing between the circle levels compared to other formulas like Unscaled or GoldenFib .
Centering on Swing Origin (Point A) : Illustrates using Point A, the user-defined start of the swing, as the circle Center . Note the significantly larger scale and wider spacing of the resulting circles. This difference occurs because centering on the swing's origin (A) typically leads to a larger base radius calculation compared to using the midpoint (X) or endpoint (B). ( Unscaled formula used).
Center Point D : Point D, dynamically calculated from the A-B swing, is used as the origin ( Center =D). It is specifically located at the price level of the swing's start point (A) occurring precisely at the time coordinate of the swing's end point (B). This offers a unique perspective, anchoring the geometric expansion to the initial price level at the exact moment the defining swing concludes. ( Unscaled formula shown).
Center Point G : Point G, also dynamically calculated from the A-B swing, is used as the origin ( Center =G). It is located at the price level of the swing's endpoint (B) occurring at the time coordinate of the start point (A). This provides the complementary perspective to Point D, anchoring the geometric expansion to the final price level achieved but originating from the moment the swing began . As observed in the example, using Point G typically results in very wide circle projections due to its position relative to the core A-B action. ( Unscaled formula shown).
Center Point I: Half-Duration Projection : Using the dynamically calculated Point I as the Center . Located at Point B's price level but projected forward in time by half the A-B swing duration , Point I's calculated time coordinate often falls outside the initially visible chart area. As the chart progresses, this origin point will appear, revealing large, sweeping arcs representing geometric expansions based on a half-cycle temporal projection from the swing's endpoint price. ( Unscaled formula shown).
Center Point M : Point M, also dynamically calculated from the A-B swing, serves as the origin ( Center =M). It combines the midpoint price level (derived from X) with a time coordinate projected forward from Point B by the full duration of the A-B swing . This perspective anchors the geometric expansion to the swing's balance price level but originates from the completion point of a full temporal cycle relative to the A-B move. Like other projected centers, using M allows for complete circles to be visualized as price progresses into its time zone. ( SilverFib formula shown).
Geometric Validation & Functionality : Comparing the indicator (red lines), using its default settings ( Center X, FibCircle Formula ), against TradingView's standard Fib Circle tool (green lines/white background). The precise alignment, particularly visible at the 1.50 and 2.00 levels shown, validates the core geometry calculation.
🛠️ CONFIGURATION AND SETTINGS 🛠️
The Fibonacci Circle Zones indicator offers a range of configurable settings to tailor its functionality and visual representation. These options allow customization of the circle origin, scaling method, level visibility, visual appearance, and input points.
Center and Formula
Settings for selecting the circle origin and scaling method.
Center : Dropdown menu to select the origin point for the circles.
Auto : Automatically uses point X (the calculated midpoint between A and B).
Selectable points including start/end (A, B), midpoint (X), plus various points derived from or projected beyond the A-B swing (C-N).
Circle Formula : Dropdown menu to select the mathematical method for scaling circle radii.
Auto : Automatically selects a default formula ('FibCircle' if Center is 'X', 'Unscaled' otherwise).
Includes standard Fibonacci scaling ( FibCircle, GoldenFib ), other mathematical constants ( PiScaled, eScaled ), metallic means ( SilverRatio ), phi transformations ( PhiDecay, PhiSquared ), and others.
Fib Levels
Configuration options for the 12 individual Fibonacci levels.
Advanced Settings
Settings related to core calculation methods.
Radius Calc : Defines how the base radius is calculated (e.g., 'Auto' for vertical price range, 'Geometric' for diagonal price-time distance).
Chart Scale : Aligns circle calculations with the chart's vertical axis setting ('Standard' or 'Logarithmic') for accurate visual proportions.
Visual Settings
Settings controlling the visual display of the indicator elements.
Plots : Dropdown controlling which parts of the calculated circles are displayed ( Upper , All , or Lower ).
Labels : Dropdown controlling the display of the numerical level value labels ( All , Left , Right , or None ).
Setup : Dropdown controlling the visibility of the initial setup graphics ( Show or Hide ).
Info : Dropdown controlling the visibility of the small information table ( Show or Hide ).
Text Size : Adjusts the font size for all text elements displayed by the indicator (Value ranges from 0 to 36).
Line Width : Adjusts the width of the circle plots (1-10).
Time/Price
Inputs for the anchor points defining the base swing.
These settings define the start (Point A) and end (Point B) of the price swing used for all calculations.
Point A (Time, Price) : Input fields for the exact time coordinate and price level of the swing's starting point (A).
Point B (Time, Price) : Input fields for the exact time coordinate and price level of the swing's ending point (B).
Interactive Adjustment : Points A and B can typically be adjusted directly by clicking and dragging their markers on the chart (if 'Setup' is set to 'Show'). Changes update settings automatically.
📝 NOTES 📝
Fibonacci circles begin plotting only once the time corresponding to Point B has passed and is confirmed on the chart. While potential center locations might be visible earlier (as shown in the setup graphic), the final circle calculations require the complete geometry of the A-B swing. This approach ensures that as new price bars form, the circles are accurately rendered based on the finalized A-B relationship and the chosen center and scaling.
The indicator's calculations are anchored to user-defined start (A) and end (B) points on the chart. When switching between charts with significantly different price scales (e.g., from an index at 5,000 to a crypto asset at $0.50), it is typically necessary to adjust these anchor points to ensure the circle elements are correctly positioned and scaled.
⚠️ DISCLAIMER ⚠️
The Fibonacci Circle Zones indicator is a visual analysis tool designed to illustrate Fibonacci relationships through geometric constructions incorporating curved lines, providing a structured framework for identifying potential areas of price interaction. Like all technical and visual indicators, these visual representations may visually align with key price zones in hindsight, reflecting observed price dynamics. It is not intended as a predictive or standalone trading signal indicator.
The indicator calculates levels and projections using user-defined anchor points and Fibonacci ratios. While it aims to align with TradingView’s standard Fibonacci circle tool by employing mathematical and geometric formulas, no guarantee is made that its calculations are identical to TradingView's proprietary methods.
🧠 BEYOND THE CODE 🧠
The Fibonacci Circle Zones indicator, like other xxattaxx indicators , is designed with education and community collaboration in mind. Its open-source nature encourages exploration, experimentation, and the development of new Fibonacci and grid calculation indicators and tools. We hope this indicator serves as a framework and a starting point for future Innovation and discussions.
Cari dalam skrip untuk "chart"
[TehThomas] - ICT Volume ImbalanceThis script is a Volume Imbalance (VI) detector and visualizer for use on the TradingView platform. The goal of the script is to automatically identify areas where there are significant imbalances in the volume of trades between consecutive candlesticks and visually highlight these areas. These imbalances can provide traders with valuable insights about the market’s current condition, often signaling potential reversal or continuation points based on price and volume action.
ICT (Inner Circle Trader) Concept of Volume Imbalances
Volume imbalances are a critical concept in the ICT trading methodology. They refer to situations where there is an unusual or significant difference in volume between two consecutive candlesticks, which might indicate institutional or large player activity. According to ICT principles, these imbalances can show us areas of market inefficiency or potential price manipulation. By identifying these imbalances, traders can gain an edge in understanding where the market is likely to move next.
Bullish and Bearish Volume Imbalances:
Bullish Volume Imbalance: This occurs when there is a strong increase in buying pressure, typically indicated by a higher volume on a candle that closes significantly above the previous one, often leaving a gap or larger price movement. The market could be preparing to push higher, and the volume shows a clear shift in buying demand.
Bearish Volume Imbalance:
Conversely, a bearish imbalance occurs when there is a strong increase in selling pressure, typically signaled by a candle that closes significantly lower than the previous one, again with higher volume. This could indicate that large players are offloading positions, and the price is likely to drop further.
Key Features and Functions of the Script
The script automates the process of detecting these volume imbalances and visually marking them on a price chart. Let’s explore its functionality in detail.
1. Inputs Section
The script allows for significant customization through its input options, which help traders adjust the detection and visualization of volume imbalances based on their individual preferences and trading style. Below are the details:
lookback (250 bars): This input specifies the number of bars (or candles) the script should look back when analyzing the volume imbalance. By setting this to 250, the user is looking at the last 250 bars on the chart to detect any significant volume imbalances. This period is adjustable between 50 to 500 bars.
volumeThreshold (1.0 multiplier): This input helps set the sensitivity for identifying volume imbalances. The script compares the volume of the current candle with the previous one, and if the current volume exceeds the previous volume by this threshold multiplier (in this case, 1.0 means at least equal to the previous volume), then it triggers an imbalance. Users can adjust the multiplier to suit different market conditions.
showBoxes (true/false): This toggle determines whether the boxes representing volume imbalances are drawn on the chart. When enabled, the script visually highlights the imbalances with colored boxes.
fillBaseColor (orange with 80% opacity): This is the color setting for the background of the imbalance boxes. A softer color (like orange with opacity) ensures the imbalance is highlighted without obscuring the price action.
borderColor (gray): The color of the border around the imbalance boxes. This adds a visual distinction to make the imbalance areas more visible.
borderWidth (1 pixel): This controls the width of the box's border to adjust how prominent it appears.
rightOffset (30 bars): This input controls how far the imbalance box extends to the right on the chart. It helps users anticipate the potential continuation of the imbalance beyond the current candle.
allowWickOverlap (true/false): This setting allows imbalances to be identified even if the wicks of the two consecutive candlesticks overlap. If set to false, only imbalances where the bodies of the candlesticks don’t overlap are considered.
showBrokenBoxes (true/false): If enabled, once a volume imbalance no longer holds true (i.e., the price breaks through the box), the box is marked as "broken." If disabled, the box is deleted when the imbalance condition no longer applies.
brokenBoxColor (red): This controls the color of the box when it is broken, which can be used as a visual cue that the imbalance was invalidated or no longer valid for analysis.
2. Volume Imbalance Function
This is the core function of the script, where the logic to detect bullish and bearish volume imbalances is implemented.
Bullish Imbalance Condition:
The first condition checks if the low of the current candle is greater than the high of the previous candle. This suggests that the market is moving upward with buying pressure.
The second condition checks whether the volume of the current candle is higher than the previous candle by the volumeThreshold multiplier. If both conditions are satisfied, a bullish imbalance is detected.
Bearish Imbalance Condition:
The first condition checks if the high of the current candle is lower than the low of the previous candle. This suggests downward price action with selling pressure.
The second condition checks whether the current volume exceeds the previous volume by the threshold
Allow Wick Overlap: If allowWickOverlap is set to true, the script will still detect imbalances if the wicks of the two candles overlap (common in volatile markets). If false, imbalances are only considered if the wicks do not overlap.
3. Box Creation and Management
When a volume imbalance is detected, the script creates a box on the chart:
The bullish imbalance box is drawn using the minimum of the open and close of the current bar as the top boundary and the maximum of the open and close of the previous bar as the bottom boundary.
Conversely, the bearish imbalance box is drawn in reverse, using the maximum of the current bar’s open and close as the top boundary and the minimum of the previous bar’s open and close as the bottom boundary.
Once the box is created, it is displayed on the chart with the specified background color, border color, and width.
4. Processing Existing Boxes
After detecting a new imbalance and drawing a box, the script checks whether the box should still remain on the chart:
If the price moves beyond the boundaries of the imbalance box, the box is marked as broken (if showBrokenBoxes is enabled), and its color is changed to red, signifying that the imbalance is no longer valid.
If the box remains intact (i.e., the price has not broken the defined boundaries), the script keeps the box extended to the right as the market continues to evolve.
5. Removing Outdated Boxes
Lastly, the script removes boxes that are older than the specified lookback period. For example, if a box was created 250 bars ago, it will be deleted after that period. This ensures the chart stays clean and only focuses on relevant imbalances.
Why This Script is Useful for Traders
This script is extremely valuable for traders, especially those following the ICT methodology, because it automates the process of detecting market inefficiencies or imbalances that might signal future price action. Here’s why it’s particularly useful:
Identifying Key Areas of Interest: Volume imbalances often point to areas where institutional or large-scale traders have entered the market. These areas could provide clues about the next significant move in the market.
Visualizing Market Structure: By automatically drawing boxes around volume imbalances, the script helps traders visually identify potential areas of support, resistance, or turning points, enabling them to make informed trading decisions.
Time Efficiency: Instead of manually analyzing each candlestick and volume spike, this script does the heavy lifting, saving traders valuable time and allowing them to focus on other aspects of their strategy.
Enhanced Trade Entries and Exits: By understanding where volume imbalances are occurring, traders can time their entries (buying during bullish imbalances and selling during bearish ones) and exits (as imbalances break) more effectively, thus improving their chances of success.
Conclusion
In summary, this script is a powerful tool for traders looking to implement volume imbalance strategies based on the ICT methodology. It automates the identification and visualization of significant imbalances in price and volume, offering traders a clear visual representation of potential market turning points. By customizing the settings, traders can tailor the script to their preferred timeframes and sensitivity, making it a flexible and effective tool for any trading strategy.
__________________________________________
Thanks for your support!
If you found this idea helpful or learned something new, drop a like 👍 and leave a comment, I’d love to hear your thoughts! 🚀
Make sure to follow me for more price action insights, free indicators, and trading guides. Let’s grow and trade smarter together! 📈
Fibonacci Time-Price Zones🟩 Fibonacci Time-Price Zones is a chart visualization tool that combines Fibonacci ratios with time-based and price-based geometry to analyze market behavior. Unlike typical Fibonacci indicators that focus solely on horizontal price levels, this indicator incorporates time into the analysis, providing a more dynamic perspective on price action.
The indicator offers multiple ways to visualize Fibonacci relationships. Drawing segmented circles creates a unique perspective on price action by incorporating time into the analysis. These segmented circles, similar to TradingView's built-in Fibonacci Circles, are derived from Fibonacci time and price levels, allowing traders to identify potential turning points based on the dynamic interaction between price and time.
As another distinct visualization method, the indicator incorporates orthogonal patterns, created by the intersection of horizontal and vertical Fibonacci levels. These intersections form L-shaped connections on the chart, derived from key Fibonacci price and time intervals, highlighting potential areas of support or resistance at specific points in time.
In addition to these geometric approaches, another option is sloped lines, which project Fibonacci levels that account for both time and price along the trendline. These projections derive their angles from the interplay between Fibonacci price levels and Fibonacci time intervals, creating dynamic zones on the chart. The slope of these lines reflects the direction and angle of the trend, providing a visual representation of price alignment with market direction, while maintaining the time-price relationship unique to this indicator
The indicator also includes horizontal Fibonacci levels similar to traditional retracement and extension tools. However, unlike standard tools, traders can display retracement levels, extension levels, or both simultaneously from a single instance of the indicator. These horizontal levels maintain consistency with the chosen visualization method, automatically scaling and adapting whether used with circles, orthogonal patterns, or slope-based analysis.
By combining these distinct methods—circles, orthogonal patterns, sloped projections, and horizontal levels—the indicator provides a comprehensive approach to Fibonacci analysis based on both time and price relationships. Each visualization method offers a unique perspective on market structure while maintaining the core principle of time-price interaction.
⭕ THEORY AND CONCEPT ⭕
While traditional Fibonacci tools excel at identifying potential support and resistance levels through price-based ratios (0.236, 0.382, 0.618), they do not incorporate the dimension of time in market analysis. Extensions and retracements effectively measure price relationships within trends, yet markets move through both price and time dimensions simultaneously.
Fibonacci circles represent an evolution in technical analysis by incorporating time intervals alongside price levels. Based on the mathematical principle that markets often move in circular patterns proportional to Fibonacci ratios, these circles project potential support and resistance zones as partial circles radiating from significant price points. However, traditional circle-based tools can create visual complexity that obscures key market relationships. The integration of time into Fibonacci analysis reveals how price movements often respect both temporal and price-based ratios, suggesting a deeper geometric structure to market behavior.
The Fibonacci Time-Price Zones indicator advances these concepts by providing multiple geometric approaches to visualize time-price relationships. Each shape option—circles, orthogonal patterns, slopes, and horizontal levels—represents a different mathematical perspective on how Fibonacci ratios manifest across both dimensions. This multi-faceted approach allows traders to observe how price responds to Fibonacci-based zones that account for both time and price movements, potentially revealing market structure that purely price-based tools might miss.
Shape Options
The indicator employs four distinct geometric approaches to analyze Fibonacci relationships across time and price dimensions:
Circular : Represents the cyclical nature of market movements through partial circles, where each radius is scaled by Fibonacci ratios incorporating both time and price components. This geometry suggests market movements may follow proportional circular paths from significant pivot points, reflecting the harmonic relationship between time and price.
Orthogonal : Constructs L-shaped patterns that separate the time and price components of Fibonacci relationships. The horizontal component represents price levels, while the vertical component measures time intervals, allowing analysis of how these dimensions interact independently at key market points.
Sloped : Projects Fibonacci levels along the prevailing trend, incorporating both time and price in the angle of projection. This approach suggests that support and resistance levels may maintain their relationship to price while adjusting to the temporal flow of the market.
Horizontal : Provides traditional static Fibonacci levels that serve as a reference point for comparing price-only analysis with the dynamic time-price relationships shown in the other three shapes. This baseline approach allows traders to evaluate how the incorporation of time dimension enhances or modifies traditional Fibonacci analysis.
By combining these geometric approaches, the Fibonacci Time-Price Zones indicator creates a comprehensive analytical framework that bridges traditional and advanced Fibonacci analysis. The horizontal levels serve as familiar reference points, while the dynamic elements—circular, orthogonal, and sloped projections—reveal how price action responds to temporal relationships. This multi-dimensional approach enables traders to study market structure through various geometric lenses, providing deeper insights into time-price symmetry within technical analysis. Whether applied to retracements, extensions, or trend analysis, the indicator offers a structured methodology for understanding how markets move through both price and time dimensions.
🛠️ CONFIGURATION AND SETTINGS 🛠️
The Fibonacci Time-Price Zones indicator offers a range of configurable settings to tailor its functionality and visual representation to your specific analysis needs. These options allow you to customize zone visibility, structures, horizontal lines, and other features.
Important Note: The indicator's calculations are anchored to user-defined start and end points on the chart. When switching between charts with significantly different price scales (e.g., from Bitcoin at $100,000 to Silver at $30), adjustment of these anchor points is required to ensure correct positioning of the Fibonacci elements.
Fibonacci Levels
The indicator allows users to customize Fibonacci levels for both retracement and extension analysis. Each level can be individually configured with the following options:
Visibility : Toggle the visibility of each level to focus on specific areas of interest.
Level Value : Set the Fibonacci ratio for the level, such as 0.618 or 1.000, to align with your analysis needs.
Color : Customize the color of each level for better visual clarity.
Line Thickness : Adjust the line thickness to emphasize critical levels or maintain a cleaner chart.
Setup
Zone Type : Select which Fibonacci zones to display:
- Retracement : Shows potential pull back levels within the trend
- Extension : Projects levels beyond the trend for potential continuation targets
- Both : Displays both retracement and extension zones simultaneously
Shape : Choose from four visualization methods:
- Circular : Time-price based semicircles centered on point B
- Orthogonal : L-shaped patterns combining time and price levels
- Sloped : Trend-aligned projections of Fibonacci levels
- Horizontal : Traditional horizontal Fibonacci levels
Visual Settings
Fill % : Adjusts the fill intensity of zones:
0% : No fill between levels
100% : Maximum fill between levels
Lines :
Trendline : The base A-B trend with customizable color
Extension : B-C projection line
Retracement : B-D pullback line
Labels :
Points : Show/hide A, B, C, D markers
Levels : Show/hide Fibonacci percentages
Time-Price Points
Set the time and price for the points that define the Fibonacci zones and horizontal levels. These points are defined upon loading the chart. These points can be configured directly in the settings or adjusted interactively on the live chart.
A and B Points : These user-defined time and price points determine the basis for calculating the semicircles and Fibonacci levels. While the settings panel displays their exact values for fine-tuning, the easiest way to modify these points is by dragging them directly on the chart for quick adjustments.
Interactive Adjustments : Any changes made to the points on the chart will automatically synchronize with the settings panel, ensuring consistency and precision.
🖼️ CHART EXAMPLES 🖼️
Fibonacci Time-Price Zones using the 'Circular' Shape option. Note the price interaction at the 0.786 level, which acts as a support zone. Additional points of interest include resistance near the 0.618 level and consolidation around the 0.5 level, highlighting the utility of both horizontal and semicircular Fibonacci projections in identifying key price areas.
Fibonacci Time-Price Zones using the 'Sloped' Shape option. The chart displays price retracing along the sloped Fibonacci levels, with blue arrows highlighting potential support zones at 0.618 and 0.786, and a red arrow indicating potential resistance at the 1.0 level. This visual representation aligns with the prevailing downtrend, suggesting potential selling pressure at the 1.0 Fibonacci level.
Fibonacci Time-Price Zones using the 'Orthogonal' Shape option. The chart demonstrates price action interacting with vertical zones created by the orthogonal lines at the 0.618, 0.786, and 1.0 Fibonacci levels. Blue arrows highlight potential support areas, while red arrows indicate potential resistance areas, revealing how the orthogonal lines can identify distinct points of price interaction.
Fibonacci Time-Price Zones using the 'Circular' Shape option. The chart displays price action in relation to segmented circles emanating from the starting point (point A). The circles represent different Fibonacci ratios (0.382, 0.5, 0.618, 0.786) and their intersections with the price axis create potential zones of support and resistance. This approach offers a visually distinct way to analyze potential turning points based on both price and time.
Fibonacci Time-Price Zones using the 'Sloped' Shape option. The sloped Fibonacci levels (0.786, 0.618, 0.5) create zones of potential support and resistance, with price finding clear interaction within these areas. The ellipses highlight this price action, particularly the support between 0.786 and 0.618, which aligns closely with the trend.
Fibonacci Time-Price Zones using the 'Circular' Shape option. The price action appears to be ‘hugging’ the 0.5 Fibonacci level, suggesting potential resistance. This demonstrates how the circular zones can identify potential turning points and areas of consolidation which might not be seen with linear analysis.
Fibonacci Time-Price Zones using the 'Sloped' Shape option with Point D marker enabled. The chart demonstrates clear price action closely following along the sloped Retracement line until the orthogonal intersection at the 0.618 levels where the trend is broken and price dips throughout the 0.618 to 0.786 horizontal zone. Price jumps back to the retracement slope at the start of the 0.786 horizontal zone and continues to the 1.0 horizontal zone. The aqua-colored retracement line is enabled to further emphasize this retracement slope .
Geometric validation using TradingView's built-in Fibonacci Circle tool (overlaid). The alignment at the 0.5 and 1.0 levels demonstrates the indicator's consistent approximation of Fibonacci Circles.
Comparison of Fibonacci Time-Price Zones (Shape: Horizontal) with TradingView's Built-in Retracement and Extension Tools (overlaid): This example demonstrates how the Horizontal structure aligns with TradingView’s retracement and extension levels, allowing users to integrate multiple tools seamlessly. The Fibonacci circle connects retracement and extension zones, highlighting the potential relationship between past retracements and future extensions.
📐 GEOMETRIC FOUNDATIONS 📐
This indicator integrates circular and straight representations of Fibonacci levels, specifically the Circular , Orthogonal , Sloped , and Horizontal shape options. The geometric principles behind these shapes differ significantly, requiring distinct scaling methods for accurate representation. The Circular shape employs logarithmic scaling with radial expansion, where the distance from a central point determines the level's position, creating partial circles that align with TradingView's built-in Fibonacci Circle tool. The other three shapes utilize geometric progression scaling for linear extension from a starting point, resulting in straight lines that align with TradingView's built-in Fibonacci retracement and extension tools. Due to these distinct geometric foundations and scaling methods, perfectly aligning both the partial circles and straight lines simultaneously is mathematically constrained, though any differences are typically visually imperceptible.
The Circular shape's partial circles are calculated and scaled to align with TradingView's built-in Fibonacci Circles. These circles are plotted from the second swing point onward. This approach ensures consistent and accurate visualization across all market types, including those with gaps or closed sessions, which unlike 24/7 markets, do not have a direct one-to-one correspondence between bar indices and time. To maintain accurate geometric proportions across varying chart scales, the indicator calculates an aspect ratio by normalizing the proportional difference between vertical (price) and horizontal (time) distances of the swing points. This normalization factor ensures geometric shapes maintain their mathematical properties regardless of price scale magnitude or time period span, while maintaining the correct proportions of the geometric constructions at any chart zoom level.
The indicator automatically applies the appropriate scaling factor based on the selected shape option, optimizing either circular proportions and proper radius calculations for each Fibonacci level, or straight-line relationships between Fibonacci levels. These distinct scaling approaches maintain mathematical integrity while preserving the essential characteristics of each geometric representation, ensuring optimal visualization accuracy whether using circular or linear shapes.
⚠️ DISCLAIMER ⚠️
The Fibonacci Time-Price Zones indicator is a visual analysis tool designed to illustrate Fibonacci relationships through geometric constructions incorporating both curved and straight lines, providing a structured framework for identifying potential areas of price interaction. It is not intended as a predictive or standalone trading signal indicator.
The indicator calculates levels and projections using user-defined anchor points and Fibonacci ratios. While it aims to align with TradingView’s Fibonacci extension, retracement, and circle tools by employing mathematical and geometric formulas, no guarantee is made that its calculations are identical to TradingView's proprietary methods.
Like all technical and visual indicators, these visual representations may visually align with key price zones in hindsight, reflecting observed price dynamics. However, these visualizations are not standalone signals for trading decisions and should be interpreted as part of a broader analytical approach.
This indicator is intended for educational and analytical purposes, complementing other tools and methods of market analysis. Users are encouraged to integrate it into a comprehensive trading strategy, customizing its settings to suit their specific needs and market conditions.
🧠 BEYOND THE CODE 🧠
The Fibonacci Time-Price Zones indicator is designed to encourage both education and community engagement. By integrating time-sensitive geometry with Fibonacci-based frameworks, it bridges traditional grid-based analysis with dynamic time-price relationships. The inclusion of semicircles, horizontal levels, orthogonal structures, and sloped trends provides users with versatile tools to explore the interaction between price movements and temporal intervals while maintaining clarity and adaptability.
As an open-source tool, the indicator invites exploration, experimentation, and customization. Whether used as a standalone resource or alongside other technical strategies, it serves as a practical and educational framework for understanding market structure and Fibonacci relationships in greater depth.
Your feedback and contributions are essential to refining and enhancing the Fibonacci Time-Price Zones indicator. We look forward to the creative applications, adaptations, and insights this tool inspires within the trading community.
Rounded Grid Levels🟩 Rounded Grid Levels is a visual tool that helps traders quickly identify key psychological price levels on any chart. By dynamically adapting to the user's visible screen area, it provides consistent, easy-to-read round number grids that align with price action. The indicator offers a traditional visualization of horizontal round level grids, along with enhanced options such as tilted grids that align with market sentiment, and fan-shaped grids for alternative price interaction views. It serves purely as a visual aid, providing an adaptable way to observe rounded price levels without making predictions or generating trading signals.
⚡ OVERVIEW ⚡
The Rounded Grid Levels indicator is a visual tool designed to help traders identify and track price levels that may hold psychological significance, such as round numbers or significant milestones. These levels often serve as potential areas for price reactions, including support, resistance, or points of market interest. The indicator's gridlines are determined by user-defined settings and adjust dynamically based on the visible chart area, meaning they are influenced by the user's current zoom level and perspective. This behavior is similar to TradingView's built-in grid lines found in the chart settings canvas, which also adjust in real-time based on the visible screen, ensuring the most relevant price levels are displayed. By default, the indicator provides consistent gridlines to represent traditional round number levels, offering a straightforward view of key psychological areas. Additionally, users have access to experimental and novel configurations, such as fan-shaped layouts, which expand from a central point and adapt directionally based on user settings. This configuration can provide an alternate perspective for traders, especially useful in analyzing broader market moves and visualizing expansion relative to the current price.
Users can display the gridlines in a variety of configurations, including horizontal, neutral, auto, or fan-shaped layouts, depending on their preferred method of analysis. This flexibility allows traders to focus on different types of price action without overcrowding the visual representation of price movements.
This indicator is intended purely as a visual aid for understanding how price interacts with rounded levels over time. It does not generate predictive trading signals or recommendations but rather provides traders with a customizable framework to enhance their market analysis.
⭕ ROUND NUMBERS IN MARKET PSYCHOLOGY ⭕
Round numbers hold a significant place in financial markets, largely due to the psychological tendencies of traders and investors. These levels often represent areas of interest where human behavior, market biases, and trading strategies converge. Whether it's prices ending in 000, 500, or other recognizable values, these levels naturally attract more attention and influence decision-making.
Round numbers can act as key support or resistance levels and often become focal points in market activity. They are frequently highlighted by financial media, embedded in products like options, and serve as foundations for various trading theories. Their impact extends across different market participants and strategies, making them important focal points in both short-term and long-term market analysis.
Round numbers play an important role in guiding trader behavior and market activity. To better understand why these levels are so impactful, there are several key factors that highlight their significance in trading and price dynamics:
Psychological Impact : Humans naturally gravitate toward round numbers, such as prices ending in 000, 500, or 00. These levels tend to draw attention as traders perceive them as psychologically significant. This behavior is rooted in the cognitive bias known as "left-digit bias," where people assign greater importance to rounded, more recognizable numbers. In trading, this means that prices at these levels are more memorable and thus more likely to attract attention, creating an area where traders focus their buying or selling decisions.
Order Clustering : Traders often place buy and sell orders around these rounded levels, either manually or automatically through stop and limit orders. This clustering leads to the formation of visible support or resistance zones, as the concentrated orders tend to influence price behavior around these key levels. Market participants tend to converge their orders around these price points because of their perceived psychological importance, creating a liquidity pocket. As a result, these areas often act as barriers that the price either struggles to cross or uses as springboards for further movement.
External Influences : Financial media frequently highlights round-number milestones, amplifying market sentiment and drawing traders' attention to these levels. Additionally, algorithmic trading systems often react to round-number thresholds, which can further reinforce price movements, creating self-reinforcing reactions at these levels. As media and analysts emphasize these milestones, more traders pay attention to them, leading to increased volume and often heightened volatility at those points. This self-reinforcing cycle makes round numbers an area where price movement can either accelerate due to a breakout or stall because of clustering interest.
Option Strike Prices : Options contracts typically have strike prices set at round numbers, and as expiration approaches, these levels can influence the price of the underlying asset due to concentrated trading activity. The behavior around these levels, often called "pinning," happens because traders adjust their positions to avoid unfavorable scenarios at these key strikes. This activity tends to concentrate price movement toward these levels as traders hedge their positions, leading to increased liquidity and the potential for abrupt price reactions near option expiration dates.
Whole Number Theory : This theory suggests that whole numbers act as natural psychological barriers, where traders tend to make decisions, place orders, or expect price reactions, making these levels crucial for analysis. Whole numbers are simple to remember and are often used as informal targets for profit-taking or stop placement. This behavior leads to a natural ebb and flow around these levels, where the market finds equilibrium temporarily before deciding on a future direction. Whole numbers tend to work like magnets, drawing price to them and often creating reactions that are visible across different timeframes.
Quarters Theory : Commonly used in Forex markets, this theory focuses on quarter-point increments (e.g., 1.0000, 1.2500, 1.5000) as key levels where price often pauses or reverses. These quarter levels are treated as important psychological barriers, with price frequently interacting at these intervals. Traders use these points to gauge market strength or weakness because quarter levels divide larger round-number ranges into more manageable and meaningful segments. For example, in highly traded forex pairs like EUR/USD, traders might treat 1.2500 as a significant barrier because it represents a halfway point between 1.0000 and 1.5000, offering a balanced reference point for decision-making.
Big Round Numbers : Major round numbers, such as 100, 500, or 1000, often attract significant attention and serve as psychological thresholds. Traders anticipate strong reactions when prices approach or cross these levels. This is often because large round numbers symbolize major milestones, and price behavior around them tends to signal important market sentiment shifts. When price crosses a major level, such as a stock moving above $100 or Bitcoin crossing $50,000, it often creates a surge in trading activity as it is viewed as a validation or invalidation of market trends, drawing in momentum traders and triggering both retail and institutional responses.
By visualizing these round levels on the chart, the Rounded Grid Levels indicator helps traders identify areas where price may pause, reverse, or gain momentum. While round numbers provide useful insights, they should be used in conjunction with other technical analysis tools for a comprehensive trading strategy.
🛠️ CONFIGURATION AND SETTINGS 🛠️
The Rounded Grid Levels indicator offers a variety of configurable settings to tailor the visualization according to individual trader preferences. Below are the key settings available for customization:
Custom Settings
Rounding Step : The Rounding Step parameter sets the minimum interval between gridlines. This value determines how closely spaced the rounded levels are on the chart. For example, if the Rounding Step is set to 100, gridlines will be displayed at every 100 points (e.g., $100, $200, $300) relative to the current price level. The Rounding Step is scaled to the chart's visible area, meaning users should adjust it appropriately for different assets to ensure effective visualization. Lower values provide a more granular view, while larger values give a broader, higher-level perspective.
Major Grids : Defines the interval at which major gridlines will appear compared to minor ones. For example, if the Rounding Step is 100 and Major Grids is set to 10, major gridlines will be displayed every $1,000, while minor gridlines will be at every $100. This distinction allows traders to better visualize key psychological levels by emphasizing significant price intervals.
Direction : Users can select the gridline direction, choosing between options such as 'Up', 'Down', 'Auto', or 'Neutral'. This setting controls how the gridlines extend relative to the current price level, which can help in analyzing directional trends.
Neutral Direction : This option provides balanced gridlines both above and below the current price, allowing traders to visualize support and resistance levels symmetrically. This is useful for analyzing sideways or ranging markets without directional bias.
Up Direction : The gridlines are tilted upwards, starting from visible lows and extending toward the rounded level at the current price. By choosing Up , traders emphasize an upward sentiment, visualizing price action that aligns with rising trends. This option helps illustrate potential areas where pullbacks may occur, as well as how price might expand upwards in the current market context.
Down Direction : The gridlines are tilted downwards, starting from visible highs and extending toward the rounded level at the current price. Selecting Down allows traders to emphasize a downward sentiment, visualizing how price may expand downwards, which is particularly useful when analyzing downtrends or potential correction levels. The gridlines provide an illustrative view of how price interacts with lower levels during market declines.
Auto Direction : The gridlines automatically adjust their direction based on recent market trends. This adaptive option allows traders to visualize gridlines that dynamically change according to price action, making it suitable for evolving market conditions where the direction is uncertain. It’s useful for traders looking for an indicator that moves in sync with market shifts and doesn’t require manual adjustment.
Grid Type : Allows users to choose between 'Linear' or 'Fan' grid types. The Linear type creates evenly spaced gridlines that can be either horizontal or tilted, depending on the chosen direction setting, providing a straightforward view of price levels. The Fan type radiates lines from a central point, offering a more dynamic perspective for analyzing price expansions relative to the current price. These grid types introduce experimental visualizations influenced by chart properties, including visible highs, lows, and the current price. Regardless of the configuration, the gridlines will always end at the current bar, which represents a rounded price level, ensuring consistency in how key price areas are displayed.
Extend : This setting allows gridlines to be projected into the future, helping traders see potential levels beyond the current bar. When enabled, the behavior of the extended lines varies based on the selected grid type and direction. For Neutral and Horizontal Linear settings, the extended gridlines maintain their round-number alignment indefinitely. However, for Up , Down , or Auto directions, the angle of the extended gridlines can change dynamically based on the chart’s visible high and low or the latest price action. As a result, extended lines may not continue to align with round-number levels beyond the current bar, reflecting instead the current trend and sentiment of the market. Regardless of direction, extended gridlines remain consistently spaced and either parallel or evenly distributed, ensuring a structured visual representation.
Color Settings : Users can customize the colors for resistance, support, and minor gridlines at the current price. This helps in visually distinguishing between different grid types and their significance on the chart.
Color Options
These configuration options make the Rounded Grid Levels indicator a versatile tool for traders looking to customize their charts based on their personal trading strategies and analytical preferences.
🖼️ CHART EXAMPLES 🖼️
The following chart examples illustrate different configurations available in the Rounded Grid Levels indicator. These examples show how variations in grid type, direction, and rounding step settings impact the visualization of price levels. Traders may find that smaller rounding steps are more effective on lower time frames, where precision is key, whereas larger rounding steps help to reduce clutter and highlight key levels on higher time frames. Each image includes a caption to explain the specific configuration used, helping users better understand how to apply these settings in different market conditions.
Smaller Rounding Step (100) : With a smaller rounding step, the gridlines are spaced closely together. This setting is particularly useful for lower time frames where price action is more granular and finer details are needed. It allows traders to track price interactions at narrower levels, but on higher time frames, it may lead to clutter and exceed Pine Script's 500-line limit.
Larger Rounding Step (1000) : With a larger rounding step, the gridlines are spaced farther apart. This visualization is better suited for higher time frames or broader market overviews, allowing users to focus on major psychological levels without overloading the chart. On lower time frames, this may result in fewer actionable levels, but it helps in maintaining clarity and staying within Pine Script's line limit.
Linear Grid Type, Neutral Direction (Traditional Rounded Price Levels) : The Linear gridlines are displayed in a neutral fashion, representing traditional round-number levels with consistent spacing above and below the current price. This layout helps visualize key psychological price levels over time in a straightforward manner.
Linear Grid Type, Down Direction : The Linear gridlines are tilted downwards, remaining parallel and ending at the rounded level at the current price. This setup emphasizes downward market sentiment, allowing traders to visualize price expansion towards lower levels, which is useful when analyzing downtrends or potential correction levels.
Linear Grid Type, Down Direction : The Linear gridlines are tilted downwards, extending from the current price to lower levels. Useful for observing downtrending price movements and visualizing pullback areas during uptrends.
Linear Grid Type, Auto Direction : The Linear gridlines adjust dynamically, tilting either upwards or downwards to align with recent price trends, remaining parallel and ending at the rounded level at the current price. This configuration reflects the current market sentiment and offers traders a flexible way to observe price dynamics as they develop in real time.
Fan Grid Type, Neutral Direction : The fan-shaped gridlines radiate symmetrically from a central point, ending at the rounded level at the current price. This configuration provides an unbiased view of price action, giving traders a balanced visualization of rounded levels without directional influence.
Fan Grid Type, Up Direction : The fan-shaped gridlines originate from lower visible price points and radiate upwards, ending at the rounded level at the current price. This layout helps visualize potential price expansion to higher levels, offering insights into upward momentum while maintaining a dynamic and evolving perspective on market conditions.
Fan Grid Type, Down Direction : The fan-shaped gridlines originate from higher visible price points and radiate downwards, ending at the rounded level at the current price. This setup is particularly useful for observing potential price expansion towards lower levels, illustrating areas where the price might extend during a downtrend.
Fan Grid Type, Auto Direction : The fan-shaped gridlines dynamically adjust, originating from visible chart points based on the current market trend, and radiate outward, ending at the rounded level at the current price. This adaptive visualization offers a continuously evolving representation that aligns with changing market sentiment, helping traders assess price expansion dynamically.
📊 SUMMARY 📊
The Rounded Grid Levels indicator helps traders highlight important round-number price levels on their charts, providing a dynamic way to visualize these psychological areas. With customizable gridline options—including traditional, tilted, and fan-shaped styles—users can adapt the indicator to suit their analysis needs. The gridlines adjust with chart zoom or scale, offering a flexible tool for observing price action, without providing specific trading signals or predictions.
⚙️ COMPATIBILITY AND LIMITATIONS ⚙️
Asset Compatibility :
The Rounded Grid Levels indicator is compatible with all asset classes, including cryptocurrencies, forex, stocks, and commodities. Users should adjust both the Rounding Step and the Major Grid settings to ensure the correct scale is used for the specific asset. This adjustment ensures that the most relevant round price levels are displayed effectively regardless of the instrument being analyzed. For instance, when analyzing BTCUSD, a higher Rounding Step may be needed compared to forex pairs like EURUSD, and the Major Grid value should also be adjusted to appropriately emphasize significant levels.
Line Limitations in Pine Script :
The Rounded Grid Levels indicator is subject to Pine Script's 500-line limit. This means that it cannot draw more than 500 gridlines on the chart at any given time. The number of gridlines depends directly on the chosen Rounding Step . If the steps are too small, the gridlines will be spaced too closely, causing the indicator to quickly reach the line limit. For example, if Ethereum is trading around $2,500, a Rounding Step of 100 might be appropriate, but a step of 1.00 would create too many gridlines, exceeding Pine Script's limit. Users should consider appropriate settings to avoid running into this constraint.
Runtime Error Considerations
When using the Rounded Grid Levels indicator, users might encounter a runtime error in specific scenarios. This typically happens if the Rounding Step is set too small, causing the indicator to exceed Pine Script's line limit or take too long to process. This can often occur when switching between charts that have significantly different price ranges. Since the Rounding Step requires flexibility to work with a wide variety of assets—ranging from decimals to thousands—it is not practically limited within the script itself. If a runtime error occurs, the recommended solution is to increase the Rounding Step to a larger value that better matches the current asset's price range.
Runtime Error: If the Rounding Step is too small for the current asset or chart, the indicator may generate a runtime error. Users should increase the Rounding Step to ensure proper visualization.
⚠️ DISCLAIMER ⚠️
The Rounded Grid Levels indicator is not designed as a predictive tool. While it extends gridlines into the future, this extension is purely for visual continuity and does not imply any forecast of future price movements. The primary function of this indicator is to help users visualize significant round number price levels.
The gridlines adjust dynamically based on the visible chart range, ensuring that the most relevant round price levels are displayed. This behavior allows the indicator to adapt to your current view of the market, but it should not be used to predict price movements. The indicator is intended as a visual aid and should be used alongside other tools in a comprehensive market analysis approach.
While gridlines may align with significant price levels in hindsight, they should not be interpreted as indicators of future price movements. Traders are encouraged to adjust settings based on their strategy and market conditions.
🧠 BEYOND THE CODE 🧠
The Rounded Grid Levels indicator, like other xxattaxx indicators , is designed with education and community collaboration in mind. Its open-source nature encourages exploration, experimentation, and the development of new grid calculation indicators, drawings, and strategies. We hope this indicator serves as a framework and a starting point for future innovations in grid trading.
Your comments, suggestions, and discussions are invaluable in shaping the future of this project. We actively encourage your feedback and contributions, which will directly help us refine and improve the Rounded Grid Levels indicator. We look forward to seeing the creative ways in which you use and enhance this tool.
Confluence StrategyOverview of Confluence Strategy
The Confluence Strategy in trading refers to the combination of multiple technical indicators, support/resistance levels, and chart patterns to identify high-probability trading opportunities. The idea is that when several indicators agree on a price movement, the likelihood of that movement being successful increases.
Key Components
Technical Indicators:
Moving Averages (MA): Commonly used to determine the trend direction. Look for crossovers (e.g., the 50-day MA crossing above the 200-day MA).
Relative Strength Index (RSI): Helps identify overbought or oversold conditions. A reading above 70 may indicate overbought conditions, while below 30 suggests oversold.
MACD (Moving Average Convergence Divergence): Useful for spotting changes in momentum. Look for MACD crossovers and divergence from price.
Support and Resistance Levels:
Identify key levels where price has historically reversed. These can be drawn from previous highs/lows, Fibonacci retracement levels, or psychological price levels.
Chart Patterns:
Patterns like head and shoulders, double tops/bottoms, or flags can indicate potential reversals or continuations in price.
Strategy Implementation
Set Up Your Chart:
Add the desired indicators (e.g., MA, RSI, MACD) to your TradingView chart.
Mark significant support and resistance levels.
Identify Confluence Points:
Look for situations where multiple indicators align. For instance, if the price is near a support level, the RSI is below 30, and the MACD shows bullish divergence, this may signal a buying opportunity.
Entry and Exit Points:
Entry: Place a trade when your confluence conditions are met. Use limit orders for better prices.
Exit: Set profit targets based on resistance levels or use trailing stops. Consider the risk-reward ratio to ensure your trades are favorable.
Risk Management:
Always implement stop-loss orders to protect against unexpected market moves. Position size should reflect your risk tolerance.
Example of a Confluence Trade
Setup:
Price approaches a strong support level.
RSI shows oversold conditions (below 30).
The 50-day MA is about to cross above the 200-day MA (bullish crossover).
Action:
Enter a long position as the conditions align.
Set a stop loss just below the support level and a take profit at the next resistance level.
Conclusion
The Confluence Strategy can significantly enhance trading accuracy by ensuring that multiple indicators support a trade decision. Traders on TradingView can customize their indicators and charts to fit their personal trading styles, making it a flexible approach to technical analysis.
RSI from Rolling VWAP [CHE]Introducing the RSI from Rolling VWAP Indicator
Elevate your trading strategy with the RSI from Rolling VWAP —a cutting-edge indicator designed to provide unparalleled insights and enhance your decision-making on TradingView. This advanced tool seamlessly integrates the Relative Strength Index (RSI) with a Rolling Volume-Weighted Average Price (VWAP) to deliver precise and actionable trading signals.
Why Choose RSI from Rolling VWAP ?
- Clear Trend Detection: Our enhanced algorithms ensure accurate identification of bullish and bearish trends, allowing you to capitalize on market movements with confidence.
- Customizable Time Settings: Tailor the time window in days, hours, and minutes to align perfectly with your unique trading strategy and market conditions.
- Flexible Moving Averages: Select from a variety of moving average types—including SMA, EMA, WMA, and more—to smooth the RSI, providing clearer trend analysis and reducing market noise.
- Threshold Alerts: Define upper and lower RSI thresholds to effortlessly spot overbought or oversold conditions, enabling timely and informed trading decisions.
- Visual Enhancements: Enjoy a visually intuitive interface with color-coded RSI lines, moving averages, and background fills that make interpreting market data straightforward and efficient.
- Automatic Signal Labels: Receive immediate bullish and bearish labels directly on your chart, signaling potential trading opportunities without the need for constant monitoring.
Key Features
- Inspired by Proven Tools: Building upon the robust foundation of TradingView's Rolling VWAP, our indicator offers enhanced functionality and greater precision.
- Volume-Weighted Insights: By incorporating volume into the VWAP calculation, gain a deeper understanding of price movements and market strength.
- User-Friendly Configuration: Easily adjust settings to match your trading preferences, whether you're a novice trader or an experienced professional.
- Hypothesis-Driven Analysis: Utilize hypothetical results to backtest strategies, understanding that past performance does not guarantee future outcomes.
How It Works
1. Data Integration: Utilizes the `hlc3` (average of high, low, and close) as the default data source, with customization options available to suit your trading needs.
2. Dynamic Time Window: Automatically calculates the optimal time window based on an auto timeframe or allows for fixed time periods, ensuring flexibility and adaptability.
3. Rolling VWAP Calculation: Accurately computes the Rolling VWAP by balancing price and volume over the specified time window, providing a reliable benchmark for price action.
4. RSI Analysis: Measures momentum through RSI based on Rolling VWAP changes, smoothed with your chosen moving average for enhanced trend clarity.
5. Actionable Signals: Detects and labels bullish and bearish conditions when RSI crosses predefined thresholds, offering clear indicators for potential market entries and exits.
Seamless Integration with Your TradingView Experience
Adding the RSI from Rolling VWAP to your TradingView charts is straightforward:
1. Add to Chart: Simply copy the Pine Script code into TradingView's Pine Editor and apply it to your desired chart.
2. Customize Settings: Adjust the Source Settings, Time Settings, RSI Settings, MA Settings, and Color Settings to align with your trading strategy.
3. Monitor Signals: Watch for RSI crossings above or below your set thresholds, accompanied by clear labels indicating bullish or bearish trends.
4. Optimize Your Trades: Leverage the visual and analytical strengths of the indicator to make informed buy or sell decisions, maximizing your trading potential.
Disclaimer:
The content provided, including all code and materials, is strictly for educational and informational purposes only. It is not intended as, and should not be interpreted as, financial advice, a recommendation to buy or sell any financial instrument, or an offer of any financial product or service. All strategies, tools, and examples discussed are provided for illustrative purposes to demonstrate coding techniques and the functionality of Pine Script within a trading context.
Any results from strategies or tools provided are hypothetical, and past performance is not indicative of future results. Trading and investing involve high risk, including the potential loss of principal, and may not be suitable for all individuals. Before making any trading decisions, please consult with a qualified financial professional to understand the risks involved.
By using this script, you acknowledge and agree that any trading decisions are made solely at your discretion and risk.
Get Started Today
Transform your trading approach with the RSI from Rolling VWAP indicator. Experience the synergy of momentum and volume-based analysis, and unlock the potential for more accurate and profitable trades.
Download now and take the first step towards a more informed and strategic trading journey!
For further inquiries or support, feel free to contact
Best regards
Chervolino
Inspired by the acclaimed Rolling VWAP by TradingView
Atlantean Bitcoin Weekly Market Condition - Top/Bottom BTC Overview:
The "Atlantean Bitcoin Weekly Market Condition Detector - Top/Bottom BTC" is a specialized TradingView indicator designed to identify significant turning points in the Bitcoin market on a weekly basis. By analyzing long-term and short-term moving averages across two distinct resolutions, this indicator provides traders with valuable insights into potential market bottoms and tops, as well as the initiation of bull markets.
Key Features:
Market Bottom Detection: The script uses a combination of a simple moving average (SMA) and an exponential moving average (EMA) calculated over long and short periods to identify potential market bottoms. When these conditions are met, the script signals a "Market Bottom" label on the chart, indicating a possible buying opportunity.
Bull Market Start Indicator: When the short-term EMA crosses above the long-term SMA, it signals the beginning of a bull market. This is marked by a "Bull Market Start" label on the chart, helping traders to prepare for potential market upswings.
Market Top Detection: The script identifies potential market tops by analyzing the crossunder of long and short-term moving averages. A "Market Top" label is plotted, suggesting a potential selling point.
Customizable Moving Averages Display: Users can choose to display the moving averages used for detecting market tops and bottoms, providing additional insights into market conditions.
How It Works: The indicator operates by monitoring the interactions between the specified moving averages:
Market Bottom: Detected when the long-term SMA (adjusted by a factor of 0.745) crosses over the short-term EMA.
Bull Market Start: Detected when the short-term EMA crosses above the long-term SMA.
Market Top: Detected when the long-term SMA (adjusted by a factor of 2) crosses under the short-term SMA.
These conditions are highlighted on the chart, allowing traders to visualize significant market events and make informed decisions.
Intended Use: This indicator is best used on weekly Bitcoin charts. It’s designed to provide long-term market insights rather than short-term trading signals. Traders can use this tool to identify strategic entry and exit points during major market cycles. The optional display of moving averages can further enhance understanding of market dynamics.
Originality and Utility: Unlike many other indicators, this script not only highlights traditional market tops and bottoms but also identifies the aggressive start of bull markets, offering a comprehensive view of market conditions. The unique combination of adjusted moving averages makes this script a valuable tool for long-term Bitcoin traders.
Disclaimer: The signals provided by this indicator are based on historical data and mathematical calculations. They do not guarantee future market performance. Traders should use this tool as part of a broader trading strategy and consider other factors before making trading decisions. Not financial advice.
Happy Trading!
By Atlantean
Wolf DCA CalculatorThe Wolf DCA Calculator is a powerful and flexible indicator tailored for traders employing the Dollar Cost Averaging (DCA) strategy. This tool is invaluable for planning and visualizing multiple entry points for both long and short positions. It also provides a comprehensive analysis of potential profit and loss based on user-defined parameters, including leverage.
Features
Entry Price: Define the initial entry price for your trade.
Total Lot Size: Specify the total number of lots you intend to trade.
Percentage Difference: Set the fixed percentage difference between each DCA point.
Long Position: Toggle to switch between long and short positions.
Stop Loss Price: Set the price level at which you plan to exit the trade to minimize losses.
Take Profit Price: Set the price level at which you plan to exit the trade to secure profits.
Leverage: Apply leverage to your trade, which multiplies the potential profit and loss.
Number of DCA Points: Specify the number of DCA points to strategically plan your entries.
How to Use
1. Add the Indicator to Your Chart:
Search for "Wolf DCA Calculator" in the TradingView public library and add it to your chart.
2. Configure Inputs:
Entry Price: Set your initial trade entry price.
Total Lot Size: Enter the total number of lots you plan to trade.
Percentage Difference: Adjust this to set the interval between each DCA point.
Long Position: Use this toggle to choose between a long or short position.
Stop Loss Price: Input the price level at which you plan to exit the trade to minimize losses.
Take Profit Price: Input the price level at which you plan to exit the trade to secure profits.
Leverage: Set the leverage you are using for the trade.
Number of DCA Points: Specify the number of DCA points to plan your entries.
3. Analyze the Chart:
The indicator plots the DCA points on the chart using a stepline style for clear visualization.
It calculates the average entry point and displays the potential profit and loss based on the specified leverage.
Labels are added for each DCA point, showing the entry price and the lots allocated.
Horizontal lines mark the Stop Loss and Take Profit levels, with corresponding labels showing potential loss and profit.
Benefits
Visual Planning: Easily visualize multiple entry points and understand how they affect your average entry price.
Risk Management: Clearly see your Stop Loss and Take Profit levels and their impact on your trade.
Customizable: Adapt the indicator to your specific strategy with a wide range of customizable parameters.
Identify Rally, Base & Drop CandleThis Pine Script indicator identifies and labels rally, base, and drop candles on your chart, aiding traders in recognizing key price action phases. Rally candles represent periods of upward price momentum, typically characterized by strong bullish movement. Base candles indicate consolidation or sideways movement, suggesting a temporary pause in the trend. Drop candles signify downward price momentum, often accompanied by strong bearish movement. By identifying these distinct candle types, traders can gain insights into the market's current phase and potential future price movements.
Key Features:
Identifies rally, base, and drop candles based on customizable criteria such as body percentage.
Labels each candle type for easy visualization and interpretation.
Helps traders identify trend continuation or potential reversal points.
Compatible with various timeframes and trading instruments.
Customizable parameters allow traders to adjust the sensitivity of the identification process to suit their trading strategies.
Usage Instructions:
Apply the indicator to your chart.
Configure the settings according to your preferences
Observe the labeled candles on the chart to identify rally, base, and drop phases.
Consider additional analysis and risk management strategies to confirm trading decisions and manage risk effectively.
Disclaimer: This indicator is provided for informational and educational purposes only. It is not intended as financial advice or trading recommendations. Trading involves risks, and it's essential to conduct thorough research and practice proper risk management techniques.
Dip & Rip Patterns - The Quant Science🇺🇸
GENERAL OVERVIEW
This indicator detects Dip and Rip patterns by quickly highlighting them on the chart.
These patterns have become popular during the pandemic period mainly in the stock, ETF and cryptocurrency markets on which traders use two interesting strategies:
Buy The Dip
Sell The Rip
Before going into the merits of this technical indicator, let's understand what these two patterns mean and what they identify precisely.
Rip (Rise In Price) : wants to identify a market condition in which the price rises rapidly, for example from $100 to $110 in a few minutes or hours.
Dip (Drop In Price) : wants to identify a market condition in which the price drops rapidly, for example from $100 to $90 in a few minutes or hours.
HOW TO USE
For a better user experience, we recommend choosing a neutral colour for the candles while analysing with this indicator. You can quickly change the colour in Chart Settings > Symbol > Candles .
Depending on the configuration set by the user, the indicator will show Dip (Dip In Price) patterns in red and Rip (Rise In Price) patterns in green.
When the pattern forms, a circle will be displayed and a vertical line will be coloured on the chart along with the body of the candle. The user will then be able to quickly and easily track the configured market conditions.
In this example, we decided to use a 4H timeframe on the BTC/USDT pair (Binance).
Set in the user interface:
Period: 20
Dip (%): -25
Rip (%): 20
Price falls by 25% or more in 80 hours (Dip Pattern).
Price rise by 25% or more in 80 hours (Rip Pattern).
The user can easily configure the parameters via the user interface in the Inputs section (A) and change the indicator design in the Properties section (B).
🇮🇹
PANORAMICA GENERALE
Questo indicatore rileva i Dip e Rip patterns evidenziandoli velocemente sul grafico.
Questi patterns sono diventati famosi durante il periodo pandemico principalmente nel mercato delle azioni, ETF e Criptovalute su cui i trader utilizzano due interessanti strategie:
Buy The Dip
Sell The Rip
Prima di entrare nel merito di questo indicatore tecnico, comprendiamo il significato di questi due pattern e cosa identificano precisamente.
Rip (Rise In Price) : vuole identificare una condizione di mercato in cui il prezzo sale rapidamente, per esempio passando da 100$ a 110$ in pochi minuti o poche ore.
Dip (Drop In Price) : vuole identificare una condizione di mercato in cui il prezzo cala rapidamente, per esempio passando da 100$ a 90$ in pochi minuti o poche ore.
UTILIZZO
Per una migliore esperienza utente consigliamo di scegliere un colore neutro per le candele mentre si analizza con questo indicatore. Puoi cambiare velocemente il colore in Chart Settings > Symbol > Candles .
In base alla configurazione impostata dall'utente l'indicatore mostrerà in rosso i pattern Dip (Dip In Price) e in verde i pattern Rip (Rise In Price).
Quando il pattern si forma verrà visualizzato un cerchio e una linea verticale sul grafico che sarà colorata insieme al corpo della candela. L'utente quindi potrà tracciare facilmente e velocemente le condizioni di mercato configurate.
In questo esempio abbiamo deciso di utilizzare un timeframe 4H con l'obbiettivo di ricercare i patterns sul pair BTC/USDT (Binance).
Impostiamo nell'interfaccia utente:
Period: 20
Dip (%): -25
Rip (%): 20
Il prezzo diminuisce del 25% o più in 80 ore (Dip Pattern).
Il prezzo aumenta del 25% o più in 80 ore (Rip Pattern).
L' utente può configurare facilmente i parametri attraverso l'interfaccia utente nella sezione Inputs (A) e modificare il design dell'indicatore nella sezione Properties (B).
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-
Farzan Paid CaliburnFarzan Paid Caliburn is used to identify trends and smoothen out price fluctuations. It was derived from the candlestick charting techniques, and it is based on open, high, low and close prices from the previous session
The Farzan Paid Caliburn indicator is plotted as a candlestick chart with a series of Blue and Black candles. The Blue candles indicate an uptrend while Black candles indicate a downtrend.
The Farzan Paid Caliburn indicator is a trend-following indicator that helps traders identify the direction of the current market trend.
To use this Farzan Paid Caliburn indicator you need to follow these steps :-
*1.Open the chart of a particular stock you want to trade.
*2.Fix the time interval of 10 minutes for the intraday trading. For that, you can use Tradingview charts.
*3.Insert the Farzan Paid Caliburn as your indicator.
The Farzan Paid Caliburn is shown under the main chart and their plots indicate the current trend. Farzan Paid Caliburn indicator can be used with varying periods (daily, weekly, intraday etc.) and on varying instruments (stocks, futures or forex) .
My personal preference is to use the Indicator on Weekly chart for best result.
Trend Line Trendlines are easily recognizable lines that traders draw on charts to connect a series of prices together or show some data's best fit. The resulting line is then used to give the trader a good idea of the direction in which an investment's value might move.
A trendline is a line drawn over pivot highs or under pivot lows to show the prevailing direction of price. Trendlines are a visual representation of support and resistance in any time frame. They show direction and speed of price, and also describe patterns during periods of price contraction.
Key Takeaways
Trendlines indicate the best fit of some data using a single line.
A single trendline can be applied to a chart to give a clearer picture of the trend.
The time period being analyzed and the exact points used to create a trendline vary from trader to trader.
The trendline is among the most important tools used by technical analysts. Instead of looking at past business performance or other fundamentals, technical analysts look for trends in price action. A trendline helps technical analysts determine the current direction in market prices. Technical analysts believe the trend is your friend, and identifying this trend is the first step in the process of making a good trade.
To create a trendline, an analyst must have at least two points on a price chart. Some analysts like to use different time frames such as one minute or five minutes. Others look at daily charts or weekly charts. Some analysts put aside time altogether, choosing to view trends based on tick intervals rather than intervals of time. What makes trendlines so universal in usage and appeal is they can be used to help identify trends regardless of the time period, time frame or interval used.
Visible Fibonacci█ OVERVIEW
This indicator displays Fibonacci retracement and extension levels on the price chart using data within the chart's visible range, providing traders with an automated alternative to our well-known drawing tool .
█ CONCEPTS
Fibonacci sequence and the Golden ratio
The Fibonacci sequence is a sequence of numbers where each term is the sum of the previous two terms. In his book Liber Abaci , Fibonacci used this sequence to estimate the growth of rabbit populations. Although most commonly associated with Fibonacci, this numeric sequence appeared in Indian mathematics as early as 200 BC. As this sequence approaches infinity, the ratio of the last element to the preceding approaches the Golden ratio (1.618033...), a well-known metallic ratio theoretically observed in many natural and synthetic systems. Many traders believe that the Fibonacci sequence and the Golden ratio carry significance in the financial markets.
Fibonacci retracements and extensions
Fibonacci retracements and extensions are extremely popular in technical analysis. They are created by connecting two extreme points, typically pivot points, by a trend line and multiplying the range between them by the ratios of steps in the Fibonacci sequence, or more precisely, powers of the Golden Ratio, to produce estimated levels of support and resistance. The ratios used for retracement multipliers are typically the Golden ratio raised to the power of 0, -0.5, -1, -2, and -3, or 1, 0.786, 0.618, 0.382, and 0.236, respectively. It is also common to see traders use a retracement ratio of 0.5. The ratios used for extension multipliers are typically the Golden ratio raised to the power of 0.5, 1, 2, and 3, or 1.272, 1.618, 2.618, and 4.236, respectively. Traders often combine these retracement and extension ratios with others they deem significant for a more personalized output.
Zig Zag
Zig Zag is a popular indicator that filters out minor price fluctuations to denoise data and emphasize trends. Traders commonly use Zig Zag for trend confirmation, identifying potential support and resistance, and pattern detection. It is formed by identifying significant local high and low points in alternating order and connecting them with straight lines, omitting all other data points from their output. There are several ways to calculate the Zig Zag's data points and the conditions by which its direction changes. This script uses the highest and lowest values over a specified length to estimate the locations of pivots. The Zig Zag reverses its direction when a new high or low emerges in the opposite direction. Additionally, enabling the "Detect additional pivots" option in the script settings will locate extra pivots when the number of bars in which no new pivot occurs exceeds the Zig Zag length.
Visible Fibonacci
This script uses the chart's visible bars to calculate and display an automated Fibonacci retracement tool with extreme points based on either of two calculation methods:
• Visible Chart Range: This method uses the highest and lowest points from the visible chart range for Fibonacci level calculation.
• Visible Zig Zag: This method uses historical pivots from a Zig Zag indicator for level calculation. The "nth Last Pivot" input in the script settings controls how many pivots back from the last visible one will be used to calculate the Fibonacci levels.
As traders pan and zoom on their charts, the script dynamically recalculates its values explicitly using the bars within the visible range.
Note that levels drawn outside the range between the high and low points may affect the scale of the chart. To prevent this, select the "Scale price chart only" option in the chart settings.
█ FOR Pine Script™ CODERS
• This script utilizes functions from the VisibleChart library by our resident PineCoders . The library exploits the chart.left_visible_bar_time and chart.right_visible_bar_time variables, which return the opening time of the leftmost and rightmost bars on the chart. They are only two of many new built-ins in the `chart.*` namespace. See this blog post for more information, or look them up by typing "chart." in the Pine Script™ Reference Manual .
• This script's architecture utilizes user-defined types (UDTs) to create custom objects which are the equivalent of variables containing multiple parts, each able to hold independent values of different types . The recently added feature was announced in this blog post.
Look first. Then leap.
Zig Zag+ (Macro + Internal Structure Tool)ZigZag+ (Macro + Internal Structure Tool)
ZigZag+ is a simple tool that helps traders to clearly identify and differentiate between macro and internal market structure, to help you keep your bearings of where you are currently in the overall picture.
It is especially difficult to keep your bearings within the larger structural trend when trading the lower timeframes, where for example, a bearish structural trend on a lower timeframe may simply be a retracement of an overall bullish structural trend on a higher timeframe. This indicator primarily aims to help traders maintain awareness of where they are in relationship to the higher timeframe / 'macro' structural trend, and their most significant swing point highs and lows.
The features of this indicator include:
- 2x Zig Zag lines drawn automatically onto your chart. One which has a longer length than the other, which can be used to help identify and differentiate the larger price swings from the smaller price swings found within it. Enabled by default.
- Customisable Zig Zag line color & width settings to help clearly differentiate the higher timeframe 'macro structure' apart from the lower timeframe 'internal structure' within it, enabling it to be tailored to suit your chart colour theme and personal preference.
- Customisable individual length settings for the 2x Zig Zag lines, to allow the fine tuning of each line to any timeframe and asset. By default one lines length is set to a higher value than the other, to illustrate a macro structure (higher length value) as well as the 'internal structure' (lower value length), seen within the larger macro structure.
- Up to a maximum of 500 lines can be drawn meaning you can zoom out considerably, and view historical price action with both Zig Zag lines continuing to print.
- Custom alerts for identifying candlesticks that can offer optimal entries where they are found within valid price markups or markdowns that are already underway. Further details can be found within the tooltips for these signals.
Note: The above list of features are accurate at the time of publishing, but may be updated or added to in future.
Structure
Understanding structure is arguably the foundation of all trading strategies, and therefore very important to understand where you are exactly in the bigger picture, since it can help identify levels at which there is a higher probability of price moving either upward or downward at a given point. Structural trend refers to the typical way that price tends to move in any given trending market, identified by the continuation of higher highs and higher lows in a typical bullish trending market, and lower highs and lower lows in a bearish trending market.
During other times price may not be trending in this way, for example when it is undergoing accumulation or distribution phases, where the consistent higher high & lower low / lower high and lower low patterns will not be evident.
What is Macro Structure?
Macro trend structure refers to the structural trend seen on higher timeframe charts.
What is Internal Structure?
Internal trend structure refers to the structural trend seen on lower timeframe charts, which is found within the higher timeframe structure.
Disclaimer: This indicator is adapted from an original script authored by Tr0sT . With special thanks.
ColorSMAColorSMA Indicator – Description & Usage Guide
Overview
The ColorSMA indicator is a dynamic trend-following moving average designed to adapt to volatility and provide clearer visual cues for traders. Unlike a standard simple moving average (SMA), this tool applies a volatility filter using a standard deviation channel and then smooths the price before calculating the moving average.
The result is a single line on the chart that changes color depending on its trend direction:
Blue (Uptrend) – The moving average is rising compared to the previous bar.
Red (Downtrend) – The moving average is falling compared to the previous bar.
This visual coloring makes it easier to spot the trend direction at a glance.
How It Works
Baseline SMA
The script first calculates a classic SMA based on the selected Length (default = 9).
This baseline acts as the foundation of the indicator.
Volatility Filter (SD Channel)
A standard deviation multiplier is applied to create an upper and lower channel around the SMA.
If price moves outside this channel, it gets “clamped” back within the channel range.
This reduces noise and prevents false signals in highly volatile conditions.
Smoothed Price (Extra Smooth)
The filtered price is then smoothed with another SMA (default = 3).
This step makes the line cleaner and easier to interpret.
Trend Coloring
If the current smoothed SMA is higher than its previous value → the line is Blue.
If it is lower → the line is Red .
This simple but effective color-coding highlights trend shifts without cluttering the chart.
Inputs & Settings
Source: The price source used in the calculation (default = close).
Length: The SMA period length (default = 9).
Extra Smooth : Additional smoothing for the final line (default = 3). Lower values make it more responsive, higher values make it smoother.
Width (Volatility Filter – SD Channel): The multiplier applied to the standard deviation. Controls how wide the channel is (default = 0.3).
Length (Volatility Filter – SD Channel): The period for calculating standard deviation (default = 1).
What You See on the Chart
A single moving average line that changes color:
Blue (Up) = trend strength or bullish direction.
Red (Down) = trend weakness or bearish direction.
The line itself is already filtered through a volatility channel and smoothing, so it reacts to market conditions while reducing noise.
How to Use It
Trend Identification
Use the color changes (Blue/Red) to quickly identify short-term trend shifts.
Blue phases suggest bullish bias, Red phases suggest bearish bias.
Entry/Exit Guidance
Traders can align entries with the trend color (e.g., buy when it turns Blue, sell/short when it turns Red).
Combine with price action or other indicators for confirmation.
Volatility Filtering
Adjust the Width and SD Length parameters to tune how sensitive the indicator is to price fluctuations. Narrower channels give more signals; wider channels filter out more noise.
Smoothing Control
If you prefer faster reactions, lower the smoothing value.
If you want steadier signals, increase smoothing.
Summary
The ColorSMA is a visually enhanced moving average that adapts to volatility and simplifies trend detection. It is especially useful for traders who prefer:
Clean charts with minimal clutter.
Clear, color-coded signals for trend direction.
Flexibility to adjust responsiveness via smoothing and channel width.
This indicator is best used as a trend confirmation tool or combined with other strategies such as support/resistance, candlestick patterns, or oscillators for robust trade setups.
Measured Move Volume XIndicator Description
The "Measured Move Volume X" indicator, developed for TradingView using Pine Script version 6, projects potential price targets based on the measured move concept, where the magnitude of a prior price leg (Leg A) is used to forecast a subsequent move. It overlays translucent boxes on the chart to visualize bullish (green) or bearish (red) price projections, extending them to the right for a user-specified number of bars. The indicator integrates volume analysis (relative to a simple moving average), RSI for momentum, and VWAP for price-volume weighting, combining these into a confidence score to filter entry signals, displayed as triangles on breakouts. Horizontal key level lines (large, medium, small) are drawn at significant price points derived from the measured moves, with customizable thresholds, colors, and styles. Exhaustion hints, shown as orange labels near box extremes, indicate potential reversal points. Anomalous candles, marked with diamond shapes, are identified based on volume spikes and body-to-range ratios. Optional higher timeframe candle coloring enhances context. The indicator is fully customizable through input groups for lookback periods, transparency, and signal weights, making it adaptable to various assets and timeframes.
Adjustment Tips for Optimization
To optimize the "Measured Move Volume X" indicator for specific assets or timeframes, adjust the following input parameters:
Leg A Lookback (default: 14 bars): Increase to 20-30 for volatile markets (e.g., cryptocurrencies) to capture larger price swings; decrease to 5-10 for intraday charts (e.g., stocks) for faster signals.
Extend Box to the Right (default: 30 bars): Extend to 50+ for daily or weekly charts to project further targets; shorten to 10-20 for lower timeframes to reduce clutter.
Volume SMA Length (default: 20) and Relative Volume Threshold (default: 1.5): Lower the threshold to 1.2-1.3 for low-volume assets (e.g., commodities) to detect subtler spikes; raise to 2.0+ for high-volume equities to filter noise. Match SMA length to RSI length for consistency.
RSI Parameters (default: length 14, overbought 70, oversold 30): Set overbought to 80 and oversold to 20 in trending markets to reduce premature exit signals; shorten length to 7-10 for scalping.
Key Level Thresholds (default: large 10%, medium 5%, small 5%): Increase thresholds (e.g., large to 15%) for volatile assets to focus on significant moves; disable medium or small lines to declutter charts.
Confidence Score Weights (default: volume 0.5, VWAP 0.3, RSI 0.2): Increase volume weight (e.g., 0.7) for volume-driven markets like futures; emphasize RSI (e.g., 0.4) for momentum-focused strategies.
Anomaly Detection (default: volume multiplier 1.5, small body ratio 0.2, large body ratio 0.75): Adjust the volume multiplier higher for stricter anomaly detection in noisy markets; fine-tune body-to-range ratios based on asset-specific candle patterns.
Use TradingView’s replay feature to test adjustments on historical data, ensuring settings suit the chosen market and timeframe.
Tips for Using the Indicator
Interpreting Signals: Green upward triangles indicate bullish breakout entries when price exceeds the prior high with a confidence score ≥40; red downward triangles signal bearish breakouts. Use these to identify potential entry points aligned with the projected box targets.
Box Projections: Bullish boxes project upward targets (top of box) equal to the prior leg’s height added to the breakout price; bearish boxes project downward. Monitor price action near box edges for target completion or reversal.
Exhaustion Hints: Orange labels near box tops (bullish) or bottoms (bearish) suggest potential exhaustion when price deviates within the set percentage (default: 5%) and RSI or volume conditions are met. Use these as cues to watch for reversals.
Key Level Lines: Large, medium, and small lines mark significant price levels from box tops/bottoms. Use these as potential support/resistance zones, especially when drawn with high volume (colored differently).
Anomaly Candles: Orange diamonds highlight candles with unusual volume/body characteristics, indicating potential reversals or pauses. Combine with box levels for context.
Higher Timeframe Coloring: Enable to color bars based on higher timeframe candle closures (e.g., 1, 2, 5, or 15 minutes) for added trend context.
Customization: Toggle "Only Show Bullish Moves" to focus on bullish setups. Adjust transparency and line styles for visual clarity. Test settings to balance signal frequency and chart readability.
Inputs: Organized into groups (e.g., "Measured Move Settings") using input.int, input.float, input.color, and input.bool for user customization, with tooltips for clarity.
Calculations: Computes relative volume (ta.sma(volume, volLookback)), VWAP (ta.vwap(hlc3)), RSI (ta.rsi(close, rsiLength)), and prior leg extremes (ta.highest/lowest) using prior bar data ( ) to prevent repainting.
Boxes and Lines: Creates boxes (box.new) for bullish/bearish projections and lines (line.new) for key levels. The f_addLine function manages line arrays (array.new_line), capping at maxLinesCount to avoid clutter.
Confidence Score: Combines volume, VWAP distance, and RSI into a weighted score (confScore), filtering entries (≥40). Rounded for display.
Exhaustion Hints: Functions like f_plotBullExitHint assess price deviation, RSI, and volume decrease, using label.new for dynamic orange labels.
Entry Signals and Plots: plotshape displays triangles for breakouts; plot and hline show VWAP and RSI levels; request.security handles higher timeframe coloring.
Anomaly Detection: Identifies candles with small-body high-volume or large-body average-volume patterns via ratios, plotted as diamonds.
High-and-Tight Impulse + Micro ConsolidationThis indicator detects a specific bullish continuation setup on daily charts:
- An impulse move (X% rise within N bars, mostly green candles)
- Immediately followed by a tight consolidation (small ranges, small bodies)
- Closes holding in the top zone of the impulse
On the chart, signals are plotted as orange dots above bars.
Labels show the last detected setup date, and a counter displays total matches in history.
Useful for backtesting "high-and-tight flag" type momentum patterns or any symbol.
Adjust inputs (impulse % threshold, bars, ATR ratios, top zone %) to make it stricter or looser.
Alerts are included when a new setup is detected.
This tool is not financial advice. For educational and research purposes only.
by fiyatherseydir
ICT Fractal HTF Candles [TFR]ICT HTF Fractal Candles
This indicator overlays higher timeframe (HTF) candles directly on your current chart for better multi-timeframe analysis. It plots up to the last 4 candles from a user-selected timeframe (5m, 15m, 1h, 4h, or 1D) with customizable body and border colors.
Features:
Displays the last 4 higher timeframe candles (open, high, low, close) on your current chart.
Customizable bullish, bearish, and inside close candle colors.
Optional midpoint wick lines (top and bottom) for precision reference, with extendable length for clarity.
Optional candle midpoint line for additional confluence.
Overlay mode allows you to see HTF structure without switching chart timeframes.
Timeframe label display so you always know which HTF is being plotted.
Offset control for shifting candle position.
Use Case:
This tool helps traders apply ICT concepts like PO3, midpoint reference levels, and multi-timeframe confirmation without constantly switching between charts. It’s particularly useful for identifying liquidity zones, midpoint reactions, and higher timeframe market structure while executing on a lower timeframe.
Spiderlines BTCUSD - daily/weekly📘 Documentation – Daily and Weekly Spider Lines for Bitcoin
🔹 Purpose of the Script
This script draws dynamic “Spider Lines” in the Bitcoin chart.
The lines connect certain historical candles with a reference candle and extend to the right.
These act as guideline levels that can serve as potential support or resistance zones.
🔹 How It Works
The script operates in two modes, depending on the active chart timeframe:
Weekly Mode (timeframe.isweekly)
The reference date is July 1, 2019.
The number of weeks since that date is calculated.
This defines the connection candle (connection_candle).
Several predefined offsets (e.g., +32, +34, +36 …) are added to the reference to determine starting candles.
Lines are drawn from these candles toward the connection candle.
→ Line color: green
Daily Mode (timeframe.isdaily)
Same reference date: July 1, 2019.
The number of days since that date is calculated.
Again, a connection candle is set.
A different set of offsets (e.g., +224, +238, +252 …) defines the starting candles.
Lines are drawn accordingly.
→ Line color: red
🔹 Line Logic
Each line connects:
Start → bar_index at high
End → bar_index at close
Lines are extended indefinitely to the right (extend.right).
Appearance: dashed style, width 2.
🔹 Error Handling
If a calculated candle index does not exist in the chart history (e.g., chart data does not go back far enough),
a label is plotted in the chart showing the message:
"Daily idx out of range: 252"
This way, missing lines can be diagnosed easily.
🔹 Color Convention
Weekly Spider Lines → Green
Daily Spider Lines → Red
🔹 Use Cases
Visualization of historical cyclic line patterns.
Helps in technical chart analysis: spotting potential reaction zones in price movement.
Designed mainly for long-term traders and analysts observing Bitcoin in Daily or Weekly timeframes.
🔹 Limitations
Works only on Daily and Weekly charts.
Requires chart data going back to July 1, 2019.
Based purely on fixed offsets → not a classical indicator like Moving Averages or RSI.
Sunset Zones by PDVDescription
Sunset Zones by PDV is an intraday reference indicator that plots key horizontal levels based on selected “root candles” throughout the trading day. At each programmed time, the indicator identifies the high and low of the corresponding candle and projects those levels forward with extended lines, providing traders with a clean visual framework of potential intraday reaction zones.
These zones serve as reference levels for support, resistance, liquidity grabs, and session context, allowing traders to analyze how price reacts around time-specific structures. Unlike lagging indicators, Sunset Zones gives traders real-time, rule-based levels tied directly to the price action of specific moments in the session.
Key Features
Predefined Time Codes
The script comes with a curated list of intraday timestamps (in HHMM format). Each represents a “root candle” from which levels are generated. Examples include 03:12, 06:47, 07:41, 08:51, etc. These time codes can reflect historically important market moments such as session opens, liquidity sweeps, or volatility inflection points.
Automatic Zone Plotting
At each root time, the script captures the candle’s high and low and instantly extends those levels forward across the chart. This provides consistent, objective reference points for intraday trading.
Extended Lines
Levels are projected far into the future (default: 500 bars) so traders can easily track how price interacts with those zones throughout the day.
Color-Coded Levels
Each root time is assigned a distinct color for fast identification. For example:
03:12 → Fuchsia
06:47 → Purple
07:41 → Teal
08:51 → White
09:53 → White
10:20 → Orange
11:10 → Green
11:49 → Red
12:05 → White
13:05 → Teal
14:09 → Aqua
This helps traders quickly recognize which time-of-day level price is interacting with.
Lightweight & Visual
The indicator focuses purely on price and time, avoiding complexity or lagging signals. It can be layered with other analysis tools, order flow charts, or session-based studies.
Practical Use Cases
Intraday Bias:
Observe whether price respects, rejects, or consolidates around these reference levels to form a bias.
Liquidity Zones:
High/low sweeps of the root candle can act as liquidity pools where institutions might trigger stops or reversals.
Support & Resistance:
Extended lines create intraday S/R zones without the need to manually draw levels.
Confluence Finder:
Combine Sunset Zones with VWAP, session ranges, Fibonacci levels, or higher-timeframe structure for layered confluence.
Important Notes
This is a visual reference tool only. It does not generate buy or sell signals.
Default times are provided, but the concept is flexible — traders can adapt it by modifying or expanding the list of time codes.
Works best on intraday timeframes where session structure is most relevant (e.g., 1-minute to 15-minute charts).
✅ In short: Sunset Zones by PDV gives intraday traders a systematic way to anchor their charts to important time-based highs and lows, creating a consistent framework for analyzing price reactions across the day.
Gap Detector (Body and Candle)Finds/Detects gaps between candles and candle bodies for any chart/timeframe with O(n+delta) performance.
Candle Gaps (between wicks) act as strong support or resistance. They are drawn as solid boxes.
Body Gaps (ignores wicks) act as mild support or resistance. They are depicted with lines.
Adjust the settings for candle/body gap width, smaller the time frame, smaller the gap.
Adjust max historical bars to fine tune performance on your system/setup. The more historical bars the script scans, more time required to load the chart. At times based on system configuration, TradingView may timeout the script due to too many bars. Reducing the max bars helps in this scenario.
This is a revamped version of "Body Gap Detector".
Happy charting !
Elliott Wave [BigBeluga]🔵 OVERVIEW
Elliott Wave automatically finds and draws an Elliott-style 5-wave impulse and a dashed projection for a potential -(a)→(b)→(c) correction. It detects six sequential reversal points from rolling highs/lows — 1, 2, 3, 4, 5, (a) — validates their relative placement, and then renders the wave with labels and horizontal reference lines. If price invalidates the structure by closing back through the Wave-5 level inside a 100-bar window, the pattern is cleared (optionally kept as “broken”) while key dotted levels remain for context.
🔵 CONCEPTS
Reversal harvesting from extremes : The script scans highest/lowest values over a user-set Length and stores swing points with their bar indices.
Six-point validation : A pattern requires six pivots (1…5 and (a)). Their vertical/temporal order must satisfy Elliott-style constraints before drawing.
Impulse + projection : After confirming 1→5, the tool plots a curved polyline through the pivots and a dashed forward path from (a) toward (b) (midpoint of 5 and (a)) and back to (c).
Risk line (invalidator) : The Wave-5 price is tracked; a close back through it within 100 bars marks the structure as broken.
Minimal persistence : When broken, the wave drawing is removed to avoid noise, while dotted horizontals for waves 5 and 4 remain as reference.
🔵 FEATURES
Automatic pivot collection from rolling highs/lows (user-controlled Length ).
Wave labeling : Points 1–5 are printed; the last collected swing is marked b
. Projected i
& i
are shown with a dashed polyline.
Breaker line & cleanup : If price closes above Wave-5 (opposite for bears) within 100 bars, the pattern is removed; only dotted levels of 5 and 4 stay.
Styling controls :
Length (pivot sensitivity)
Text Size for labels (tiny/small/normal/large)
Wave color input
Show Broken toggle to keep invalidated patterns visible
Lightweight memory : Keeps a compact buffer of recent pivots/draws to stay responsive.
🔵 HOW TO USE
Set sensitivity : Increase Length on noisy charts for cleaner pivots; decrease to catch earlier/shorter structures.
Wait for confirmation : Once 1→5 is printed and (a) appears, use the Wave-5 line as your invalidation. A close back through it within ~100 bars removes the active wave (unless Show Broken is on).
Plan with the dashed path : The (a)→(b)→(c) projection offers a scenario for potential corrective movement and risk placement.
Work MTF : Identify cleaner waves on higher TFs; refine execution on lower TFs near the breaker or during the move toward (b).
Seek confluence : Align with structure (S/R), volume/Delta, or your trend filter to avoid counter-context trades.
🔵 CONCLUSION
Elliott Wave systematizes discretionary wave analysis: it detects and labels the 5-wave impulse, projects a plausible (a)-(b)-(c) path, and self-cleans on invalidation. With clear labels, dotted reference levels, and a practical breaker rule, it gives traders an objective framework for scenario planning, invalidation, and timing.
