Market Snap Shot with Pine ScreenerMarket Snap Shot
The Market Snap Shot is a comprehensive technical analysis tool designed to track and display key price metrics across multiple timeframes, including daily, weekly, monthly, quarterly, and yearly data. This script provides a range of essential calculations for traders and investors, enabling them to assess price action, volatility, and market trends at a glance.
Features:
Daily Metrics: Includes the daily percentage change, closing range relative to the daily high/low.
Weekly Metrics: Tracks weekly open, close, range, and calculates week-to-date performance for a broader market view.
Monthly Metrics: Provides similar calculations for monthly price action, offering insights into monthly performance.
Quarter-to-Date (QTD): Displays performance for the current quarter, offering insights into quarterly price movements.
Year-to-Date (YTD): Calculates year-to-date price change, helping users track performance relative to the start of the year.
52-Week High/Low: Displays the current price's distance from the 52-week high and low, giving context to long-term price levels.
Usage:
Traders can use this screener to quickly assess the current market position and make informed decisions based on short-term and long-term trends.
Investors can leverage the 52-week and YTD metrics to gauge the overall strength of an asset in the market.
The tool is versatile for both active traders looking for real-time performance data and for those focusing on longer-term market trends.
Instructions:
This script displays multiple metrics such as percentage changes and range data for daily, weekly, monthly, quarterly, and yearly timeframes. It is designed to be used as a screener tool to assess price action and monitor performance across these key time periods.
Warning:
The "Market Snap Shot" does not provide buy or sell signals but rather serves as a performance tracking tool. Users are encouraged to use this data in conjunction with other technical and fundamental analysis tools.
Cari dalam skrip untuk "daily"
Aggressive Strategy for High IV Market### Strategic background
In a volatile high IV market, prices are volatile and market expectations of future uncertainty are high. This environment provides opportunities for aggressive trading strategies, but also comes with a high level of risk. In pursuit of a high Sharpe ratio (i.e., risk-adjusted return), we need to design a strategy that captures the benefits of market volatility while effectively controlling risk. Based on daily line cycles, I choose a combination of trend tracking and volatility filtering for highly volatile assets such as stocks, futures or cryptocurrencies.
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### Strategy framework
#### Data
- Use daily data, including opening, closing, high and low prices.
- Suitable for highly volatile markets such as technology stocks, cryptocurrencies or volatile index futures.
#### Core indicators
1. ** Trend Indicators ** :
Fast Exponential Moving Average (EMA_fast) : 10-day EMA, used to capture short-term trends.
- Slow Exponential Moving Average (EMA_slow) : 30-day EMA, used to determine the long-term trend.
2. ** Volatility Indicators ** :
Average true Volatility (ATR) : 14-day ATR, used to measure market volatility.
- ATR mean (ATR_mean) : A simple moving average of the 20-day ATR that serves as a volatility benchmark.
- ATR standard deviation (ATR_std) : The standard deviation of the 20-day ATR, which is used to judge extreme changes in volatility.
#### Trading logic
The strategy is based on a trend following approach of double moving averages and filters volatility through ATR indicators, ensuring that trading only in a high-volatility environment is in line with aggressive and high sharpe ratio goals.
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### Entry and exit conditions
#### Admission conditions
- ** Multiple entry ** :
- EMA_fast Crosses EMA_slow (gold cross), indicating that the short-term trend is turning upward.
-ATR > ATR_mean + 1 * ATR_std indicates that the current volatility is above average and the market is in a state of high volatility.
- ** Short Entry ** :
- EMA_fast Crosses EMA_slow (dead cross) downward, indicating that the short-term trend turns downward.
-ATR > ATR_mean + 1 * ATR_std, confirming high volatility.
#### Appearance conditions
- ** Long show ** :
- EMA_fast Enters the EMA_slow (dead cross) downward, and the trend reverses.
- or ATR < ATR_mean-1 * ATR_std, volatility decreases significantly and the market calms down.
- ** Bear out ** :
- EMA_fast Crosses the EMA_slow (gold cross) on the top, and the trend reverses.
- or ATR < ATR_mean-1 * ATR_std, the volatility is reduced.
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### Risk management
To control the high risk associated with aggressive strategies, set up the following mechanisms:
1. ** Stop loss ** :
- Long: Entry price - 2 * ATR.
- Short: Entry price + 2 * ATR.
- Dynamic stop loss based on ATR can adapt to market volatility changes.
2. ** Stop profit ** :
- Fixed profit target can be selected (e.g. entry price ± 4 * ATR).
- Or use trailing stop losses to lock in profits following price movements.
3. ** Location Management ** :
- Reduce positions appropriately in times of high volatility, such as dynamically adjusting position size according to ATR, ensuring that the risk of a single trade does not exceed 1%-2% of the account capital.
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### Strategy features
- ** Aggressiveness ** : By trading only in a high ATR environment, the strategy takes full advantage of market volatility and pursues greater returns.
- ** High Sharpe ratio potential ** : Trend tracking combined with volatility filtering to avoid ineffective trades during periods of low volatility and improve the ratio of return to risk.
- ** Daily line Cycle ** : Based on daily line data, suitable for traders who operate frequently but are not too complex.
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### Implementation steps
1. ** Data Preparation ** :
- Get the daily data of the target asset.
- Calculate EMA_fast (10 days), EMA_slow (30 days), ATR (14 days), ATR_mean (20 days), and ATR_std (20 days).
2. ** Signal generation ** :
- Check EMA cross signals and ATR conditions daily to generate long/short signals.
3. ** Execute trades ** :
- Enter according to the signal, set stop loss and profit.
- Monitor exit conditions and close positions in time.
4. ** Backtest and Optimization ** :
- Use historical data to backtest strategies to evaluate Sharpe ratios, maximum retracements, and win rates.
- Optimize parameters such as EMA period and ATR threshold to improve policy performance.
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### Precautions
- ** Trading costs ** : Highly volatile markets may result in frequent trading, and the impact of fees and slippage on earnings needs to be considered.
- ** Risk Control ** : Aggressive strategies may face large retracements and need to strictly implement stop losses.
- ** Scalability ** : Additional metrics (such as volume or VIX) can be added to enhance strategy robustness, or combined with machine learning to predict trends and volatility.
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### Summary
This is a trend following strategy based on dual moving averages and ATR, designed for volatile high IV markets. By entering into high volatility and exiting into low volatility, the strategy combines aggressive and risk-adjusted returns for traders seeking a high sharpe ratio. It is recommended to fully backtest before implementation and adjust the parameters according to the specific market.
Trade Quality Rating: signal rating from 1 to 5 starsOverview
The indicator is built to generate trading signals based on a combination of technical indicators and then assign each signal a quality rating from 1 to 5 stars. The idea is that the more filters that are met, the stronger (or higher quality) the signal is assumed to be. You can then use these quality ratings to decide which signals to act upon, keeping in mind that a higher-rated signal has more confirming factors.
Components of the Indicator
Simple Moving Averages (SMAs):
SMA9 and SMA20:
These two moving averages are used to detect short-term trend changes via crossovers. A bullish signal is generated when the SMA9 crosses above the SMA20, and a bearish signal when it crosses below.
SMA200 (on the current timeframe) & Daily SMA200:
The SMA200 on your current chart helps smooth out the price action.
The Daily SMA200 serves as a long-term trend filter. For a valid long signal, the price must be above the Daily SMA200, and vice versa for a short signal.
MACD (Moving Average Convergence Divergence):
The MACD is calculated using standard parameters (12, 26, 9).
It adds momentum confirmation to the signal. For a long trade, the MACD line should be above its signal line, and for a short trade, below.
RSI (Relative Strength Index):
Calculated with a 14-period setting.
For long signals, the RSI must be above 50 (indicating upward momentum), while for short signals, it should be below 50.
This filter is one of the additional conditions that add to the quality rating.
Volume Filter:
A 20-period moving average of volume is computed.
The current volume must exceed this average, suggesting that there is enough market participation backing the move.
This is another extra filter that adds to the overall quality score.
ADX (Average Directional Index):
The ADX is manually calculated in the script (using a 14-period setting) to gauge the strength of the trend.
A value above 25 is considered to confirm that a strong trend is in place, making the signal more reliable.
VWAP (Volume Weighted Average Price):
The session VWAP is computed on a daily basis.
For long trades, the price should be above the VWAP, and for short trades, below.
This serves as a confirmation that the current price is moving in the right direction relative to the volume-weighted average.
Signal Generation and Quality Rating
Base Signal (1 Star):
The fundamental trade signal is generated when the SMA9/SMA20 crossover occurs, in combination with the MACD confirmation and the condition that the price is on the correct side of the Daily SMA200. This base signal provides a 1-star quality rating.
Additional Filters (Adding Extra Stars):
RSI Filter: Adds 1 extra star if the RSI condition is met (RSI > 50 for long or RSI < 50 for short).
Volume Filter: Adds 1 extra star if the current volume exceeds its 20-period moving average.
ADX Filter: Adds 1 extra star if the ADX value is above 25, confirming a strong trend.
VWAP Filter: Adds 1 extra star if the price is above the VWAP for long trades (or below for short trades).
When all filters are met, you get a 5-star rating (1 star base + 4 extra stars).
Display and Alerts:
The indicator plots your SMAs on the chart.
When a signal occurs, it places a label on the chart showing the trade direction ("BUY" or "SELL") along with the quality rating in stars.
Additionally, alert conditions are set up so that you can receive notifications when a valid signal (based on the base criteria) is generated.
How to Use This Indicator
Filtering Trades:
Use the quality rating as a visual guide. For instance, if you want to only act on the most reliable setups, you might decide to trade only signals that are rated 4 or 5 stars.
Manual Confirmation:
Even with a high star rating, you can perform your own final checks (e.g., checking price action or additional chart patterns) before entering a trade.
Backtesting and Adjustment:
Because market conditions differ, it’s advisable to backtest the indicator on your instrument of choice and adjust the parameters (such as the ADX threshold or the period for volume averaging) to better suit your trading style.
Conclusion
This 5-star system indicator is designed to provide a comprehensive overview of trade quality by integrating multiple technical filters into one visual signal. It helps filter out noise by ensuring that a trade signal not only meets a basic SMA and MACD condition but also aligns with volume, trend strength (ADX), and VWAP criteria. This multi-layered approach can lead to fewer but higher quality trades, allowing you to focus on setups that have more confluence.
Happy trading!
Trading Sessions Highs/Lows | InvrsROBINHOODTrading Sessions Highs/Lows | InvrsROBINHOOD
🚀 A powerful indicator for tracking key trading sessions and the highs and lows of each session!
📌 Description
The Trading Sessions Highs/Lows indicator visually marks the most critical trading sessions—Asia, London, and New York—using small colored dots at the bottom of the candle. It also tracks and plots the highs and lows of each session, along with the Daily Open and Weekly Open levels.
This tool is designed to help traders identify session-based liquidity zones, price reactions, and potential trade setups with minimal chart clutter.
Key Features:
✅ Session markers (Asia, London, NY AM, NY Lunch, NY PM) plotted as small dots
✅ Plots session highs and lows for market structure insights
✅ Daily Open line for intraday reference
✅ Weekly Open line for higher timeframe bias
✅ Alerts for session high/low breaks to capture momentum shifts
✅ User-defined UTC offset for global traders
✅ Customizable session colors for personal preference
📖 How to Use the Indicator
1️⃣ Understanding the Sessions
Asia Session (Yellow Dot) → Marks liquidity buildup & pre-London moves
London Session (Blue Dot) → Strong volatility, breakout opportunities
New York AM Session (Green Dot) → Major trends & institutional participation
New York Lunch (Red Dot) → Low volume, ranging market
New York PM Session (Dark Green Dot) → End-of-day movements & reversals
2️⃣ Session Highs & Lows for Market Structure
Session Highs can act as resistance or breakout points.
Session Lows can act as support or stop-hunt zones.
Break of a session high/low with volume may indicate continuation or reversal.
3️⃣ Using the Daily & Weekly Open
The Daily Open (Black Line) helps gauge the intraday trend.
Above Daily Open → Bearish Bias
Below Daily Open → Bullish Bias
The Weekly Open (Red Line) sets the higher timeframe directional bias.
4️⃣ Alerts for Breakouts
The indicator will trigger alerts when price breaks session highs or lows.
Useful for setting stop-losses, breakout trades, and risk management.
💡 Why This Indicator is Important for Beginners
1️⃣ Avoids Overtrading:
Many beginners trade in low-volume periods (NY Lunch, Asia session) and get stuck in choppy price action.
This indicator highlights when volatility is high so traders focus on better opportunities.
2️⃣ Session-Based Liquidity Traps:
Market makers often run stops at session highs/lows before reversing.
Watching session breaks prevents traders from falling into liquidity grabs.
3️⃣ Reduces Emotional Trading:
If price is above the Daily Open, a beginner shouldn’t look for shorts.
If price is below a key session low, it may signal a fake breakout.
4️⃣ Aligns with Institutional Trading:
Smart money traders use session highs/lows to set stop hunts & reversals.
Beginners can use this indicator to spot these zones before entering trades.
🛡️ How to Mitigate Risk with This Indicator
✅ Wait for Confirmations – Don’t trade blindly at session highs/lows. Look for wicks, rejections, or break/retests.
✅ Use Stop-Loss Above/Below Session Levels – If you’re going long, set SL below a session low. If short, set SL above a session high.
✅ Watch Volume & News Events – Breakouts without strong volume or news may be fake moves.
✅ Combine with Other Strategies – Use price action, trendlines, or EMAs with this indicator for higher probability trades.
✅ Use the Weekly Open for Trend Bias – If price stays below the Weekly Open, avoid bullish setups unless key support holds.
🎯 Who is This Indicator For?
📌 Beginners who need clear session-based trading levels.
📌 Day traders & scalpers looking to refine their intraday setups.
📌 Smart money traders using liquidity concepts.
📌 Swing traders tracking higher timeframe momentum shifts.
🚀 Final Thoughts
This indicator is an essential tool for traders who want to understand market structure, liquidity, and volatility cycles. Whether you’re trading forex, stocks, or crypto, it helps you stay on the right side of the market and avoid unnecessary risks.
🔹 Set it up, customize your colors, define your UTC offset, and start trading smarter today! 🏆📈
DataDoodles SD + ProbabilityDataDoodles SD + Probability
Overview:
The “DataDoodles SD + Probability” indicator is designed to provide traders with a statistical edge by leveraging standard deviation and probability metrics. This advanced tool calculates the annualized standard deviation, Z-score, and probability of price movements, offering insights into potential market direction with customizable alert thresholds.
Key Features:
1. Annualized Standard Deviation (Volatility) Calculation:
• Uses a user-defined period to compute the rolling standard deviation of daily returns.
• Annualizes the volatility, giving a clear picture of expected price fluctuations.
2. Probability of Price Movement:
• Calculates the probability of price moving up or down using a corrected Z-Score.
• Displays the probability percentage for both upward and downward movements.
3. Dynamic Alerts:
• Configurable alerts for upward and downward price movement probabilities.
• Receive alerts when the probability exceeds user-defined thresholds.
4. Projections and Visuals:
• Plots projected high and low price levels based on annualized volatility.
• Displays Z-Score and probability metrics on the chart for quick reference.
5. Comprehensive Data Table:
• Bottom-center table displays key metrics:
• Daily Return
• Standard Deviation (SD)
• Annualized Standard Deviation (Yearly SD)
User Inputs:
• Annualization Period: Set the time frame for volatility annualization (Default: 252 days).
• SD Period: Define the rolling window for calculating standard deviation (Default: 252 days).
• Alert Probability Up/Down: Customize the probability thresholds for alerts (Default: 90%).
How It Works:
• Data Request and Calculation:
• Uses daily close prices to ensure consistent timeframe calculations.
• Calculates daily returns and annualizes the volatility using the square root of the time frame.
• Probability Computation:
• Employs a normal distribution CDF approximation to compute the probability of upward and downward price movements.
• Adjusts probabilities based on Z-Score to ensure accuracy.
• High and Low Projections:
• Utilizes the annualized volatility to estimate high and low price projections for the year.
• Visual Indicators and Alerts:
• Plots projected high (green) and low (red) levels on the chart.
• Displays Z-Score, probability percentages, and dynamically updates a statistics table.
Use Cases:
• Trend Analysis: Identify high-probability market movements using the probability metrics.
• Volatility Insights: Understand annualized volatility to gauge market risk and potential price ranges.
• Strategic Trading Decisions: Set alerts for high-probability scenarios to optimize entry and exit points.
Why Use “DataDoodles SD + Probability”?
This indicator provides a powerful combination of statistical analysis and visual representation. It empowers traders with:
• Quantitative Edge: By leveraging probability metrics and standard deviation, users can make informed trading decisions.
• Risk Management: Annualized volatility projections help in setting realistic stop-loss and take-profit levels.
• Actionable Alerts: Customizable probability alerts ensure users are notified of potential market moves, allowing proactive trading strategies.
Recommended Settings:
• Annualization Period: 252 (Ideal for daily data representing a trading year)
• SD Period: 252 (One trading year for consistent volatility calculations)
• Alert Probability: Set to 90% for conservative signals or lower for more frequent alerts.
Final Thoughts:
The “DataDoodles SD + Probability” indicator is a robust tool for traders looking to integrate statistical analysis into their trading strategies. It combines volatility measurement, probability calculations, and dynamic alerts to provide a comprehensive market overview.
Whether you’re a day trader or a long-term investor, this indicator can enhance your market insight and improve decision-making accuracy.
Disclaimer:
This indicator is a technical analysis tool designed for educational purposes. Past performance is not indicative of future results. Traders are encouraged to perform their own analysis and manage risk accordingly.
SMA with Std Dev Bands (Futures/US Stocks RTH)Rolling Daily SMA With Std Dev Bands
Upgrade your technical analysis with Rolling Daily SMA With Std Dev Bands, a powerful indicator that dynamically adjusts to your trading instrument. Whether you’re analyzing futures or US stocks during regular trading hours (RTH), this indicator seamlessly applies the correct logic to calculate a rolling daily Simple Moving Average (SMA) with customizable standard deviation bands for precise trend and volatility tracking.
Key Features:
✅ Automatic Instrument Detection– The indicator automatically recognizes whether you're trading futures or US equities and applies the correct daily lookback period based on your chart’s timeframe.
- Futures: Uses full trading day lengths (e.g., 1380 bars for 1‑minute charts).
- US Stocks (RTH): Uses regular session lengths (e.g., 390 bars for 1‑minute charts).
✅ Rolling Daily SMA (3‑pt Purple Line) – A continuously updated daily moving average, giving you an adaptive trend indicator based on market structure.
✅ Three Standard Deviation Bands (1‑pt White Lines) –
- Customizable multipliers allow you to adjust each band’s width.
- Toggle each band on or off to tailor the indicator to your strategy.
- The inner band area is color-filled: light green when the SMA is rising, light red when falling, helping you quickly identify trend direction.
✅ Works on Any Chart Timeframe – Whether you trade on 1-minute, 3-minute, 5-minute, or 15-minute charts, the indicator adjusts dynamically to provide accurate rolling daily calculations.
# How to Use:
📌 Identify Trends & Volatility Zones – The rolling daily SMA acts as a dynamic trend guide, while the standard deviation bands help spot potential overbought/oversold conditions.
📌 Customize for Precision – Adjust band multipliers and toggle each band on/off to match your trading style.
📌 Trade Smarter – The filled inner band offers instant visual feedback on market momentum, while the outer bands highlight potential breakout zones.
🔹 This is the perfect tool for traders looking to combine trend-following with volatility analysis in an easy-to-use, adaptive indicator.
🚀 Add Rolling Daily SMA With Std Dev Bands to your chart today and enhance your market insights!
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*Disclaimer: This indicator is for informational and educational purposes only and should not be considered financial advice. Always use proper risk management and conduct your own research before trading.*
Highs&Lows by HourHighs & Lows by Hour
Description:
Highs & Lows by Hour is a TradingView indicator that helps traders identify the most frequent hours at which daily high and low price points occur. By analyzing historical price data directly from the TradingView chart, this tool provides valuable insights into market timing, allowing traders to optimize their strategies around key price movements.
This indicator is specifically designed for the one-hour (H1) timeframe . It does not display any data on other timeframes , as it relies on analyzing daily highs and lows within hourly periods.
This indicator processes the available data based on the number of historical bars loaded in the TradingView chart. The number of analyzed bars depends on the TradingView subscription plan , which determines how much historical data is accessible.
Key Features:
Works exclusively on the H1 timeframe , ensuring accurate analysis of daily highs and lows
Hourly highs and lows analysis to identify the most frequent hours when the market reaches its daily high and low
Sorted by frequency, displaying the most significant trading hours in descending order based on their recurrence
Customizable table and colors to fit the chart theme and trading style
Useful for scalpers, day traders, and swing traders to anticipate potential price reversals and breakouts
How It Works:
The indicator scans historical price data directly from the TradingView chart to detect the hour at which daily highs and daily lows occur.
It counts the frequency of highs and lows for each hour of the trading day based on the number of available bars in the TradingView chart.
The recorded data is displayed in a structured table, sorted by frequency from highest to lowest.
Users can customize colors to enhance readability and seamlessly integrate the indicator into their analysis.
Why Use This Indicator?
Identify key market patterns by recognizing the most critical hours when price extremes tend to form
Improve timing for trades by aligning entries and exits with high-probability time windows
Enhance market awareness by understanding when market volatility is likely to peak based on historical trends
Important Notes:
This indicator works only on the one-hour (H1) timeframe . It will not display any data on other timeframes
Works well on Forex, stocks, crypto, and futures , especially for intraday traders
The indicator analyzes only the historical bars available on the TradingView chart, which varies depending on the TradingView subscription plan (Free, Pro, Pro+, Premium)
This indicator does not generate buy or sell signals but serves as a data-driven tool for market analysis
How to Use:
Apply the Highs & Lows by Hour indicator to a one-hour (H1) chart on TradingView
Review the table displaying the most frequent hours for daily highs and lows
Adjust colors and settings for better visualization
Use the data to refine trading decisions and align strategy with historical price behavior
End-of-Session ProbabilityThis indicator estimates the probability that the market will finish the session above a specified target price. It blends a statistical probability model with directional bias and optional morning momentum weighting to help traders gauge end-of-day market expectations.
Key Features:
• Statistical Probability Model:
Uses a normal distribution (with a custom normal CDF approximation) scaled by the square-root-of-time rule. The indicator dynamically adjusts the standard deviation for the remaining session time to compute a z‑score and ultimately the probability that the session close exceeds the target.
• Directional Bias via Daily HullMA (Exponential):
A daily Hull Moving Average (calculated using an exponential method) is used as a big-picture trend indicator. The model allows you to select your bias method—either by comparing the current price to the daily HullMA (Price method) or by using the HullMA’s slope (Slope method). A drift multiplier scales this bias, which then shifts the mean used in the probability calculations.
• Optional Morning Momentum Weight:
For traders who believe that early session moves provide useful clues about the day’s momentum, you can enable an optional weighting. The indicator captures the percentage change from the morning open (within a user-defined time window) and adjusts the expected move accordingly. A multiplier lets you control the strength of this adjustment.
• Visual Outputs:
The indicator plots quantile lines (approximately the 25%, 50%, and 75% levels) for the expected price distribution at session end. An abbreviated on-chart label displays key information:
• Target: The target price (current price plus a user-defined offset)
• Prob Above: The probability (in percentage) that the session close will exceed the target price
• Time: The time remaining in the session (in minutes)
How to Use:
1. Set Your Parameters:
• Expected Session Move: Input your estimated standard deviation for the full-session move in price units.
• Daily Hull MA Settings: Adjust the period for the daily HullMA and choose the bias method (Price or Slope). Modify the drift multiplier to tune the strength of the directional bias.
• Target Offset: Specify an offset from the current price to set your target level.
• Morning Momentum (Optional): Enable the morning momentum weight if you want the indicator to adjust the expected move based on early session price changes. Define the morning session window and set the momentum multiplier.
2. Interpret the Output:
• Quantile Lines: These represent the range of possible end-of-session prices based on your model.
• Abbreviated Label: Provides a quick snapshot of the target price, probability of finishing above that target, and time remaining in the session.
3. Trading Application:
Use the probability output as a guide to assess if the market is likely to continue in the current direction or reverse by session close. The indicator can help you decide on trade entries, exits, or adjustments based on your overall strategy and risk management approach.
This tool is designed to offer a dynamic, statistically driven snapshot of the market’s expected end-of-day behavior, combining both longer-term trend bias and short-term momentum cues.
Dynamic SMATimeframe Detection: The indicator first identifies the current timeframe of the chart (e.g., daily, 4-hour, 1-hour).
SMA Calculation: It calculates three different SMAs:
Daily SMA: A 8-period SMA calculated on daily closing prices.
4-Hour SMA: A 50-period SMA calculated on 4-hour closing prices.
1-Hour SMA: A 100-period SMA calculated on 1-hour closing prices.
Dynamic SMA Selection: Based on the detected timeframe, the indicator selects the appropriate SMA to display:
If the timeframe is daily, it uses the daily SMA.
If the timeframe is 4-hour, it uses the 4-hour SMA.
If the timeframe is 1-hour, it uses the 1-hour SMA.
Plotting: The selected SMA is plotted on the chart as a blue line.
Dynamic Label: The indicator also creates a dynamic label that displays the current SMA being used, along with the corresponding timeframe and period. For example, it will show "Active SMA: 8 SMA (Daily)" when the daily SMA is active.
This indicator is useful for traders who want to use different SMAs for different timeframes without having to manually switch between them. It provides a convenient way to see the relevant SMA for the current chart view.
Advanced Multi-Timeframe Trading System (Risk Managed)Description:
This strategy is an original approach that combines two main analytical components to identify potential trade opportunities while simulating realistic trading conditions:
1. Market Trend Analysis via an Approximate Hurst Exponent
• What It Does:
The strategy computes a rough measure of market trending using an approximate Hurst exponent. A value above 0.5 suggests persistent, trending behavior, while a value below 0.5 indicates a tendency toward mean-reversion.
• How It’s Used:
The Hurst exponent is calculated on both the chart’s current timeframe and a higher timeframe (default: Daily) to capture both local and broader market dynamics.
2. Fibonacci Retracement Levels
• What It Does:
Using daily high and low data from a selected timeframe (default: Daily), the script computes key Fibonacci retracement levels.
• How It’s Used:
• The 61.8% level (Golden Ratio) serves as a key threshold:
• A long entry is signaled when the price crosses above this level if the daily Hurst exponent confirms a trending market.
• The 38.2% level is used to identify short-entry opportunities when the price crosses below it and the daily Hurst indicates non-trending conditions.
Signal Logic:
• Long Entry:
When the price crosses above the 61.8% Fibonacci level (Golden Ratio) and the daily Hurst exponent is greater than 0.5, suggesting a trending market.
• Short Entry:
When the price crosses below the 38.2% Fibonacci level and the daily Hurst exponent is less than 0.5, indicating a less trending or potentially reversing market.
Risk Management & Trade Execution:
• Stop-Loss:
Each trade is risk-managed with a stop-loss set at 2% below (for longs) or above (for shorts) the entry price. This ensures that no single trade risks more than a small, sustainable portion of the account.
• Take Profit:
A take profit order targets a risk-reward ratio of 1:2 (i.e., the target profit is twice the amount risked).
• Position Sizing:
Trades are executed with a fixed position size equal to 10% of account equity.
• Trade Frequency Limits:
• Daily Limit: A maximum of 5 trades per day
• Overall Limit: No more than 510 trades during the backtesting period (e.g., since 2019)
These limits are imposed to simulate realistic trading frequency and to avoid overtrading in backtest results.
Backtesting Parameters:
• Initial Capital: $10,000
• Commission: 0.1% per trade
• Slippage: 1 tick per bar
These settings aim to reflect the conditions faced by the average trader and help ensure that the backtesting results are realistic and not misleading.
Chart Overlays & Visual Aids:
• Fibonacci Levels:
The key Fibonacci retracement levels are plotted on the chart, and the zone between the 61.8% and 38.2% levels is highlighted to show a key retracement area.
• Market Trend Background:
The chart background is tinted green when the daily Hurst exponent indicates a trending market (value > 0.5) and red otherwise.
• Information Table:
An on-chart table displays key parameters such as the current Hurst exponent, daily Hurst value, the number of trades executed today, and the global trade count.
Disclaimer:
Past performance is not indicative of future results. This strategy is experimental and provided solely for educational purposes. It is essential that you backtest and paper trade using your own settings before considering any live deployment. The Hurst exponent calculation is an approximation and should be interpreted as a rough gauge of market behavior. Adjust the parameters and risk management settings according to your personal risk tolerance and market conditions.
Additional Notes:
• Originality & Usefulness:
This script is an original mashup that combines trend analysis with Fibonacci retracement methods. The description above explains how these components work together to provide trading signals.
• Realistic Results:
The strategy uses realistic account sizes, commission rates, slippage, and risk management rules to generate backtesting results that are representative of real-world trading.
• Educational Purpose:
This script is intended to support the TradingView community by offering insights into combining multiple analysis techniques in one strategy. It is not a “get-rich-quick” system but rather an educational tool to help traders understand risk management and trade signal logic.
By using this script, you acknowledge that trading involves risk and that you are responsible for testing and adjusting the strategy to fit your own trading environment. This publication is fully open source, and any modifications should include proper attribution if significant portions of the code are reused.
Multi-Timeframe RSI Grid Strategy with ArrowsKey Features of the Strategy
Multi-Timeframe RSI Analysis:
The strategy calculates RSI values for three different timeframes:
The current chart's timeframe.
Two higher timeframes (configurable via higher_tf1 and higher_tf2 inputs).
It uses these RSI values to identify overbought (sell) and oversold (buy) conditions.
Grid Trading System:
The strategy uses a grid-based approach to scale into trades. It adds positions at predefined intervals (grid_space) based on the ATR (Average True Range) and a grid multiplication factor (grid_factor).
The grid system allows for pyramiding (adding to positions) up to a maximum number of grid levels (max_grid).
Daily Profit Target:
The strategy has a daily profit target (daily_target). Once the target is reached, it closes all open positions and stops trading for the day.
Drawdown Protection:
If the open drawdown exceeds 2% of the account equity, the strategy closes all positions to limit losses.
Reverse Signals:
If the RSI conditions reverse (e.g., from buy to sell or vice versa), the strategy closes all open positions and resets the grid.
Visualization:
The script plots buy and sell signals as arrows on the chart.
It also plots the RSI values for the current and higher timeframes, along with overbought and oversold levels.
How It Works
Inputs:
The user can configure parameters like RSI length, overbought/oversold levels, higher timeframes, grid spacing, lot size multiplier, maximum grid levels, daily profit target, and ATR length.
RSI Calculation:
The RSI is calculated for the current timeframe and the two higher timeframes using ta.rsi().
Grid System:
The grid system uses the ATR to determine the spacing between grid levels (grid_space).
When the price moves in the desired direction, the strategy adds positions at intervals of grid_space, increasing the lot size by a multiplier (lot_multiplier) for each new grid level.
Entry Conditions:
A buy signal is generated when the RSI is below the oversold level on all three timeframes.
A sell signal is generated when the RSI is above the overbought level on all three timeframes.
Position Management:
The strategy scales into positions using the grid system.
It closes all positions if the daily profit target is reached or if a reverse signal is detected.
Visualization:
Buy and sell signals are plotted as arrows on the chart.
RSI values for all timeframes are plotted, along with overbought and oversold levels.
Example Scenario
Suppose the current RSI is below 30 (oversold), and the RSI on the 60-minute and 240-minute charts is also below 30. This triggers a buy signal.
The strategy enters a long position with a base lot size.
If the price moves against the position by grid_space, the strategy adds another long position with a larger lot size (scaled by lot_multiplier).
This process continues until the maximum grid level (max_grid) is reached or the daily profit target is achieved.
Key Variables
grid_level: Tracks the current grid level (number of positions added).
last_entry_price: Tracks the price of the last entry.
base_size: The base lot size for the initial position.
daily_profit_target: The daily profit target in percentage terms.
target_reached: A flag to indicate whether the daily profit target has been achieved.
Potential Use Cases
This strategy is suitable for traders who want to combine RSI-based signals with a grid trading approach to capitalize on mean-reverting price movements.
It can be used in trending or ranging markets, depending on the RSI settings and grid parameters.
Limitations
The grid trading system can lead to significant drawdowns if the market moves strongly against the initial position.
The strategy relies heavily on RSI, which may produce false signals in strongly trending markets.
The daily profit target may limit potential gains in highly volatile markets.
Customization
You can adjust the input parameters (e.g., RSI length, overbought/oversold levels, grid spacing, lot multiplier) to suit your trading style and market conditions.
You can also modify the drawdown protection threshold or add additional filters (e.g., volume, moving averages) to improve the strategy's performance.
In summary, this script is a sophisticated trading strategy that combines RSI-based signals with a grid trading system to manage entries, exits, and position sizing. It includes features like daily profit targets, drawdown protection, and multi-timeframe analysis to enhance its robustnes
[volfgang] Pivot Levels (Open, Close, High, Low)This script provides a clear and consistent way to track key price levels from Weekly and Daily bars, directly on your current chart interval.
The default colours are;
Today & This Week Open = White
Yesterday & Previous Week Open = Cream
Yesterday's High = Red
Yesterday's Low = Green
Weekly Pivots are 2px, and Daily Pivots are 1px.
Instead of requiring manual referencing of daily or weekly charts, these significant levels are automatically drawn and updated in real time, extending to the right as new bars form.
It adds value by helping traders quickly identify potential support/resistance zones and compare intraday price action with higher-timeframe pivots. This approach can aid in scalping, day trading, or swing trading strategies that rely on past price levels for trade entries, exits, or stop loss placement.
Daily Pivots Displayed Intraday
The script imports the previous day’s High, Low, Open, and Close and draws lines on the current chart, so you can see exactly where those levels lie on any intraday timeframe. You can easily change the colour of these lines in the menu.
Instead of switching between multiple charts for daily references, you can keep an intraday chart open and still watch how price behaves around these important daily pivots.
Weekly Pivots for Broader Context
In addition to daily levels, it also shows the previous week’s Open and Close. This feature helps traders who want to maintain a broader perspective and gauge the market’s weekly trend or bias while remaining on lower timeframes.
Automatic Line & Label Management
Each new trading day triggers a “session change” in the code, prompting the script to delete old lines and labels for daily levels. This keeps your chart from getting cluttered with outdated lines.
Weekly lines and labels follow the same approach, ensuring only the most recent weekly levels are highlighted.
Real-Time Extension
Lines are continuously extended to the right as new bars print, ensuring that you always have an updated view of your key price levels without any manual adjustments.
On the last bar, the script shifts to a time-based coordinate system for seamless visual extension.
Minimal Recalculation
This script uses security() calls in a carefully optimized way to reduce unnecessary recalculations and avoid repaint issues. By referencing open , close , etc., the lines remain fixed once the daily (or weekly) candle is confirmed.
Flexible Usage
You can apply this script to any symbol on TradingView. It’s especially beneficial for Forex pairs, indices, futures, or cryptocurrencies where you want to track significant past levels.
If you’re a scalper looking for areas of likely reaction, or a swing trader watching weekly opens for trend confirmation, these levels can be integral to your technical approach.
How to Use
Add to Chart: Click the “Add to Favorite Indicators” or “Apply to Chart” button once published.
Enable or Disable Previous Day Bars: Use the script’s input to toggle the display of previous day’s High, Low, Open, and Close lines if you only want weekly lines (or vice versa).
Customize Visuals: You can change line colors, width, and label text in the “Style” or “Inputs” tab. Adjust them to fit your preferred color scheme.
Interpretation:
Daily levels typically carry relevance for the next trading session. They can be used for intraday support/resistance, breakout checks, or gap fills.
Weekly levels help identify more prominent zones for bigger moves or for understanding overall sentiment from the prior week.
Conceptual Underpinnings
Support/Resistance: Past opens/closes often act as support or resistance because they represent important points of reference (where trading started or ended during a prior session).
Market Psychology: Many traders watch daily or weekly closes to gauge momentum and bias, which can become self-fulfilling as more participants join around those levels.
Improved Situational Awareness: By having these levels automatically drawn and updated, traders avoid missing critical areas where price may pivot.
This script is intentionally open-source to help traders study and personalize it.
By merging daily and weekly pivot concepts in a single script, it provides a convenient and efficient tool—rather than a simple mashup, it unifies two timeframes that are crucial in short-term and medium-term trading decisions.
Remember that these levels alone do not constitute a complete trading system; they are best used as part of a broader strategy involving risk management, additional technical signals, and market context.
SV Volatility Indicator BasicThe SV Volatility Indicator Basic in TradingView calculates and visualizes daily and average volatility over specified periods using three lines. Here’s what it does:
1. Daily Volatility Calculation. The indicator computes daily volatility as the percentage difference between the high and low prices relative to the closing price:
2. 30-day Moving Average of Volatility. A simple moving average (SMA) is applied to the daily volatility values over the last 30 days to smooth short-term fluctuations.
3. 90-day Moving Average of Volatility. Similarly, an SMA is calculated over the last 90 days to provide a longer-term view of volatility trends.
4. Visualization:
Three lines are plotted:
Red line: Represents the daily volatility in percentage terms.
Blue line: Displays the 30-day moving average of volatility.
Green line: Shows the 90-day moving average of volatility.
This indicator helps traders analyze market volatility by providing both immediate (daily) and smoothed (30-day and 90-day) measures, aiding in trend identification and risk assessment.
Kamal 5 Tick Trading SetupKamal 5 Tick Trading Setup
The "Kamal 5 Tick Trading Setup" is a custom indicator designed by Kamal Preet Singh Trader for TradingView to identify potential Buy and Sell signals on daily forex charts. This indicator helps traders make informed decisions based on the price action of the previous five daily candles.
Indicator Logic:
Buy Signal: A Buy signal is generated when the closing price of the current candle exceeds the highest high of the previous five daily candles.
Sell Signal: A Sell signal is generated when the closing price of the current candle falls below the lowest low of the previous five daily candles.
Features:
Lookback Period: The indicator uses a lookback period of five candles to determine the highest high and lowest low.
Visual Signals: Buy signals are plotted as green "BUY" labels below the candles, while Sell signals are plotted as red "SELL" labels above the candles.
Debugging Plots: The highest high and lowest low of the previous five candles are plotted as blue and orange lines, respectively, to help verify the conditions for Buy and Sell signals.
Non-Repetitive Signals: The indicator ensures that once a Buy signal is given, no further Buy signals are generated until a Sell signal is given, and vice versa.
Usage:
Apply the indicator to your daily forex chart in TradingView.
Observe the plotted Buy and Sell signals to identify potential entry and exit points.
Use the debugging plots to ensure the conditions for the signals are being met correctly.
This indicator provides a straightforward approach to trading based on recent price action, helping traders capitalize on potential breakout and breakdown opportunities.
Master Bitcoin & Litecoin Stock To Flow (S2F) ModelMaster Bitcoin & Litecoin Stock-to-Flow (S2F) Model
This indicator visualizes the Stock-to-Flow (S2F) models for Bitcoin (BTC) and Litecoin (LTC) based on Plan B's methodology. It calculates S2F and projects price models for both assets, incorporating daily changes in circulating supply. The script is designed exclusively for daily timeframes.
Features:
LTC & BTC S2F Models:
Calculates Stock-to-Flow values for both assets using daily new supply and circulating supply data.
Models S2F values with a customizable multiplier for precise adjustments.
500-Day Moving Average Models:
Smoothens the S2F model by applying a 500-day (18-month) moving average, providing a long-term trend perspective.
Customizable Inputs:
Adjust LTC and BTC multipliers to fine-tune the models.
Alert for Timeframe:
Alerts users to switch to the daily timeframe if another period is selected.
Plots:
LTC S2F Model: Blue line representing Litecoin’s calculated S2F-based price model.
BTC S2F Model: Orange line representing Bitcoin’s calculated S2F-based price model.
500-Day Avg Models: Smoothened S2F models for both LTC and BTC.
Notes:
Requires daily timeframe (1D) for accurate calculations.
Supply data is sourced from GLASSNODE:LTC_SUPPLY and GLASSNODE:BTC_SUPPLY.
Disclaimer:
This model is derived from Plan B's S2F methodology and is intended for educational and entertainment purposes only. It does not reflect official predictions or financial advice. Always conduct your own research before making investment decisions.
Custom Trend TableManual input of trend starting with Daily Time frame, then H4 and H1.
If Daily and H4 are the same trend we can ignore H1 trend (N/A).
M15 Buy or Sell comes automatically depending on what the higher time frame trends are.
If Daily and H4 are bearish, then we look for Selling opportunities on M15.
If Daily and H4 are bullish, then we look for Buying opportunities on M15.
If Daily and H4 are different trends, then H1 trend will determine M15 Buy or Sell.
Works for up to 4 pairs / Symbols. If you need more, just add the indicator twice and on the second settings, move the placement of the table to a different location (Eg: Top, Middle) so you can see up to 8 Symbols. Repeat this process if required.
Austin MTF EMA Entry PointsAustin MTF EMA Entry Points
Overview
The Austin MTF EMA Entry Points is a custom TradingView indicator designed to assist traders in identifying high-probability entry points by combining multiple time frame (MTF) analysis. It leverages exponential moving averages (EMAs) from the daily, 1-hour, and 15-minute charts to generate buy and sell signals that align with the overall trend.
This indicator is ideal for traders who:
Want to trade in the direction of the broader daily trend.
Seek precise entry points on lower time frames (1H and 15M).
Prefer using EMAs as their main trend-following tool.
How It Works
Daily Trend Filter:
The indicator calculates the 50 EMA on the daily chart.
The daily EMA acts as the primary trend filter:
If the current price is above the daily 50 EMA, the trend is bullish.
If the current price is below the daily 50 EMA, the trend is bearish.
Lower Time Frame Entry Points:
The indicator calculates the 20 EMA on both the 1-hour (1H) and 15-minute (15M) time frames.
Buy and sell signals are generated when the price aligns with the trend on all three time frames:
Buy Signal: Price is above the daily 50 EMA and also above the 20 EMA on both the 1H and 15M charts.
Sell Signal: Price is below the daily 50 EMA and also below the 20 EMA on both the 1H and 15M charts.
Visual and Alert Features:
Plot Lines:
The daily 50 EMA is plotted in yellow for easy identification of the main trend.
The 20 EMA from the 1H chart is plotted in blue, and the 15M chart's EMA is in purple for comparison.
Buy/Sell Markers:
Green "Up" arrows appear for buy signals.
Red "Down" arrows appear for sell signals.
Alerts:
Alerts notify users when a buy or sell signal is triggered, making it easier to act on trading opportunities in real-time.
How to Use the Indicator
Identify the Main Trend:
Check the relationship between the price and the daily 50 EMA (yellow line):
Only look for buy signals if the price is above the daily 50 EMA.
Only look for sell signals if the price is below the daily 50 EMA.
Wait for Lower Time Frame Alignment:
For a valid signal, ensure that the price is also above or below the 20 EMA (blue and purple lines) on both the 1H and 15M time frames:
This alignment confirms short-term momentum in the same direction as the daily trend.
Act on Signals:
Use the arrows as visual cues for entry points:
Enter long trades on green "Up" arrows.
Enter short trades on red "Down" arrows.
The alerts will notify you of these signals, so you don’t have to monitor the chart constantly.
Exit Strategy:
Use your preferred stop-loss, take-profit, or trailing stop strategy.
You can also exit trades if the price crosses back below/above the daily 50 EMA, signaling a potential reversal.
Use Cases
Swing Traders: Use the daily trend filter to trade in the direction of the dominant trend, while using 1H and 15M signals to fine-tune entries.
Day Traders: Leverage the 1H and 15M time frames to capitalize on short-term momentum while respecting the broader daily trend.
Position Traders: Monitor the indicator to determine potential reversals or significant alignment across time frames.
Customizable Inputs
The indicator includes the following inputs:
Daily EMA Length: Default is 50. Adjust this to change the length of the trend filter EMA.
Lower Time Frame EMA Length: Default is 20. Adjust this to change the short-term EMA for the 1H and 15M charts.
Time Frames: Hardcoded to "D", "60", and "15", but you can modify the script for different time frames if needed.
Example Scenarios
Buy Signal:
Price is above the daily 50 EMA.
Price crosses above the 20 EMA on both the 1H and 15M time frames.
A green "Up" arrow is displayed, and an alert is triggered.
Sell Signal:
Price is below the daily 50 EMA.
Price crosses below the 20 EMA on both the 1H and 15M time frames.
A red "Down" arrow is displayed, and an alert is triggered.
Strengths and Limitations
Strengths:
Aligns trades with the higher time frame trend for increased probability.
Uses multiple time frame analysis to identify precise entry points.
Visual signals and alerts make it easy to use in real-time.
Limitations:
May produce fewer signals in choppy or ranging markets.
Requires discipline to avoid overtrading when conditions are unclear.
Lag in EMAs could result in late entries in fast-moving markets.
Final Notes
The Austin MTF EMA Entry Points indicator is a powerful tool for traders who value multiple time frame alignment and trend-following strategies. While it simplifies decision-making, it is always recommended to backtest and practice proper risk management before using it in live markets.
Try it out and make smarter, trend-aligned trades today! 🚀
SMA Ribbon [A]SMA Ribbon with Adjustable MA200
20, 50, 100, and 200 -period Simple Moving Averages (SMAs) for trend analysis.
The SMA200 dynamically changes color based on its direction—green when rising and red when falling. Additionally, you can lock the SMA200 to the daily timeframe , allowing it to display the 200-day moving average on lower timeframes, such as 4-hour or 1-hour charts.
Features:
Dynamic SMA200 Color: Automatically adjusts to show upward (green) or downward (red) trends.
Daily SMA200 Option: Enables the SMA200 to represent the 200-day moving average on intraday charts for long-term trend insights.
Smart Adaptation: The daily SMA200 setting is automatically disabled on daily or higher timeframes, ensuring accurate period calculations.
How to Use:
Use this script to identify key support/resistance levels and overall market trends.
Adjust the "Daily MA for MA200" option in the settings to toggle between timeframe-specific and daily-locked SMA200.
This script is ideal for traders seeking a clean and customizable tool for long-term and short-term trend analysis.
Structure Pilot Vision [Wang Indicators]Built and refined with Dave Teaches, the HTF Vision Pro supercharges the trader, providing them with the tools to approach price with a layered analysis.
Providing the trader the instruments to put on the spotlight significant zones to anticipate price deliveries
HTF CANDLE VISION
Displays up to 3 series of HTF Candles
Shows candlesticks from a higher time frame (e.g., daily, 4-hour, weekly) on a lower time frame chart (e.g., 1-hour, 15-minute). This allows traders to simultaneously observe both short-term and long-term market dynamics.
Customizable Time Frames: Users can select any higher time frame to overlay on the current chart. Common time frames include daily, weekly, and monthly candles, but other custom time frames can also be used.
Color Coding: The HTF candles are color-coded for easy differentiation from the lower time frame candles. Users can customize colors to suit their preferences.
Open, High, Low, Close (OHLC) Representation: The indicator displays the full candlestick pattern for the chosen HTF, including the open, high, low, and close values. This helps traders easily identify key price levels and trends.
Settings :
Number of candles
Space between the chart and the HTF candles
Space between candles sets
Size : from Tiny (2x regular candle size) to Large (x8 regular candle size)
Space between candles
Colors of candles, borders and wicks
Incorporating a Higher Time Frame (HTF) candle into your Lower Time Frame (LTF) chart can be immensely beneficial for traders looking to enhance their analysis and decision-making process.
Use Cases for HTF Candles on LTF Charts:
Trend Confirmation:
Use Case: A trader might be looking at a 15-minute chart (LTF) but wants to confirm if the short-term trends align with the daily trend (HTF). Plotting a daily candle on the 15-minute chart helps visualize whether the short-term movements are part of a broader, longer-term trend.
Support and Resistance Identification:
Use Case: By plotting a weekly candle on a daily chart, traders can quickly identify levels that have acted as significant support or resistance in the past on the higher time frame, which might not be as visible or influential on the daily chart alone.
Entry and Exit Points Enhancement:
Use Case: When preparing to enter a trade based on a 1-hour chart, overlaying a 4-hour candle can provide insights into potential reversal points or continuation patterns that are more significant on the higher time frame, thus refining entry and exit strategies.
Volatility and Breakout Analysis:
Use Case: Seeing how a single HTF candle (like a monthly candle on a weekly chart) closes can give traders an idea of the market's volatility or the strength behind breakouts. A long wick on the HTF candle might suggest a rejected breakout or a potential reversal.
Risk Management:
Use Case: Using an HTF candle can help set more informed stop-loss levels. For instance, if a trader uses a 4-hour candle on a 1-hour chart, they might place their stop-loss just beyond the low of the HTF candle, assuming this represents a significant level of support or resistance.
Contextual Trading Decisions:
Use Case: For scalpers or day traders, understanding where the current price action sits within the context of a higher timeframe can lead to better decision-making. For instance, trading within an HTF consolidation range might suggest less aggressive moves, while being near the top or bottom of such a range might indicate potential for larger movements.
Market Sentiment Analysis:
Use Case: The color (red for bearish, green for bullish) and size of the HTF candle can give a quick visual cue of the market sentiment over that period, helping traders assess whether they are going with or against the broader market flow.
Swing Trading:
Use Case: Swing traders might plot a weekly candle on a daily chart to align their trades with the direction of the weekly trend, ensuring they're not fighting the broader market momentum.
Educational and Visual Reference:
Use Case: For educational purposes, having an HTF candle overlay can serve as a visual reminder for students or new traders about how price movements on different time frames can influence each other, aiding in teaching concepts like "the trend is your friend."
Wang use cases :
The way it is intended to be used is as follow
If you trade the 1 min chart and have a set of 5 min HTF candles plotted on your charts it could be used as follow :
As long as the 5 min keep providing close below the last 5 min candle if you're short you're safe ... if the 5 min candle stop closing below the last ones and start giving up-close you should consider closing your trade
Another use of HTF Candle is to find fractals responsible (up or down internal mouv before the breakout that creates a new zone). This fractal acts as supply and demand zone responsible for maintening the trend or for a reversal.
See examples below :
These fractals are interesting zones because they often cause the price to react, so following a flip in the fractal, you can take a short in bearish zones and a long in bullish zones. Fractals are easier to detect thanks to the HTF candles function, and allow you to enter positions with greater confidence. They can be used in the same way as the 70%, 50% and 30% interest zones, or they can be used simultaneously.
Use with zones :
▫️ VERTICAL BARS VISION ▫️
The vertical bars provide a view of market fractality: on a low time frame chart, they show the size of a candle in a higher time frame, and thus give a better understanding of the price fractality essential to the strategy we use.
Example :
For your information, when you modify data in the vertical bars or HTF candles parameters, the two are synchronized automatically.
The Vertical HTF Candle Closures Indicator is a simple yet effective tool that helps traders visually track the closing times of higher time frame (HTF) candles (such as 4H, 1H, 15M) on a lower time frame chart (e.g., 1-minute).
This feature plots vertical lines on the chart at the exact closure time of each selected HTF, allowing traders to quickly recognize key moments when the HTF candles close, or better yet when we trade above / below the last one and reverse ''sweepy sweepy'' .
Its more like a vertical and more micro visualisation than the HTF Candles.
Wang usage :
its a great tool to be able to reverse engineer what's in a HTFcandle precisely its a good combination with HTF candle projections to train the eyes of the traders about Whats is inside a candle that formed on the higher time frame
Limitation & know issues :
The chart may become cluttered with too many lines if multiple time frames are selected. Adjusting the line style or disabling certain time frames can help reduce visual noise.
On low time frame (<30s), some bar may notshow exactly on time (e.g : in 10sec timeframe, the 15min bar can be displayed at 01:15:10 instead of 01:15:00).
Because of the data provider and the interpreter of Trading View, if there is not data for a candle, Trading view just "skip" the candle. Sometime, those skip are on the candle that goes to 15min, 1 hour or 4 hour. As this is a Trading View issue. There is pretty much nothing we can do.
Some users may experience vertical bars at 1am, 5am, 9am ... instead of 0am, 4am, 8am ... That is because of the difference between the Timezone set on the chart and the timezone of the market they trade. Vertical bar will always refer to the symbol displayed
DB369 - Directional Bias 369
DB369 - Directional Bias 369 Indicator
The **DB369** indicator helps traders identify key market levels and trends by combining multiple timeframes' price action analysis. It highlights important **pivot points** on the chart and provides visual cues to help you make more informed buy and sell decisions based on the overall market direction.
Key Features
1. Pivot Points Across Multiple Timeframes**:
- The indicator calculates and displays pivot points for the **Monthly**, **Weekly**, **Daily**, **4-Hour**, and **1-Hour** timeframes (or 30-minute equivalent if desired). These pivots represent significant price levels where the market may retest.
2. **Trend Detection**:
- The indicator evaluates the relationship between the current price and the pivot point for each timeframe. Based on this comparison, it classifies the market as **Bullish**, **Bearish**, or **Neutral** on each timeframe.
3. **Pivot Lines**:
- Horizontal lines are drawn to mark the key pivot points for each selected timeframe. These lines extend into the future and adjust dynamically as the market moves in real time.
- **Customizable**: You can choose which timeframes to display pivot points by enabling/disabling them in the settings.
4. **Trend Table**:
- A **table** is displayed at the top-right of the chart to show the trend for the **Daily**, **4-Hour**, and **30-Minute** timeframes. It provides an easy-to-read view of the trend direction across these timeframes.
5. **Buy/Sell Arrows**:
- **Buy Arrow**: A green arrow will appear when the **Daily**, **4-Hour**, and **30-Minute** trends are all **Bullish** (aligned in the same direction).
- **Sell Arrow**: A red arrow will appear when all three timeframes show a **Bearish** trend.
- These arrows appear only once per alignment change and can be enabled or disabled for alerts. This helps avoid clutter on the chart and ensures that you only see a signal when the alignment occurs or changes.
### **How to Use the DB369 Indicator**:
1. **Pivot Points**:
- The pivot points represent significant price levels where the market might retest in the future. For instance:
- **Bullish Market**: If the price is above the pivot point, the market is considered bullish.
- **Bearish Market**: If the price is below the pivot point, the market is considered bearish.
- **Neutral Market**: When the price is near the pivot point, the market is neither strongly bullish nor bearish.
2. **Trend Alignment**:
- When the **Daily**, **4-Hour**, and **30-Minute** timeframes all show the same trend direction (either **Bullish** or **Bearish**), this alignment signifies a stronger trend.
- You will receive a **Buy Arrow** when all three timeframes are aligned bullish, and a **Sell Arrow** when they are aligned bearish.
- These arrows are displayed at the point when the alignment is first detected and can also trigger **alerts**.
3. **Alerts**:
- You can choose to enable alerts for when a **Buy** or **Sell** arrow appears on the chart. This allows you to be notified in real-time when the alignment conditions are met.
4. **Using the Pivot Points for Entry**:
- **Buy Trade**: Look for a buy trade when the price is near the **pivot line** of the higher timeframes, particularly when the trend across all three timeframes is **Bullish**.
- **Sell Trade**: Similarly, look for a sell trade when the price is near a **pivot line** and the trend is **Bearish**.
5. **Customization**:
- You can customize which timeframes' pivots are shown on the chart by toggling the visibility of the **Monthly**, **Weekly**, **Daily**, **4-Hour**, and **1-Hour** pivots in the settings.
- The indicator automatically adjusts the pivot levels in real-time as the market progresses.
**Important Notes**:
- This indicator does not guarantee successful trades; it is intended to assist in identifying potential trade opportunities based on the alignment of higher timeframe trends.
- Always combine the information from the DB369 indicator with other technical analysis tools and risk management strategies to ensure more accurate trade decisions.
Fibonacci Rainbow Day Trade-AYNETSummary of the "Fibonacci Rainbow Day Trade"
This script dynamically calculates Fibonacci retracement levels based on the daily high and low and plots them as colorful lines on the chart. It is designed for day traders to visually identify potential support and resistance zones using Fibonacci levels.
Key Features:
Dynamic Fibonacci Levels:
Levels are calculated using the daily high (day_high) and low (day_low).
Default levels: 0, 0.236, 0.382, 0.5, 0.618, 0.786, 1.
These levels represent key areas where price is likely to react.
Colorful Rainbow Visualization:
Each Fibonacci level is represented by a unique color.
Colors are defined in a rainbow_colors array: red, orange, yellow, green, blue, purple, teal.
Customizable Inputs:
Users can modify the Fibonacci levels, line thickness (fibo_line_width), and whether to show labels.
Labels display the level percentage (e.g., 0.236) at their respective lines.
Optional Labels:
The script includes labels that annotate each Fibonacci level on the chart.
Labels are placed beside the corresponding lines for clarity.
Works on Any Timeframe:
Although the levels are based on the daily high/low, the script can be applied to any intraday timeframe.
Use Case:
Identify Support and Resistance Zones:
Watch for price reactions near Fibonacci levels to determine potential entry/exit points.
Dynamic Updates:
Fibonacci levels are updated daily, ensuring they remain relevant for intraday trading.
Custom Visualization:
Adjust levels, colors, and display options to suit your trading style.
Example Calculation:
Daily High: $120
Daily Low: $100
Fibonacci 0.618 Level: $100 + ($120 - $100) * 0.618 = $111.36
This script provides a visually appealing and effective way to incorporate Fibonacci levels into day trading strategies. 🌈
Custom AO with Open Difference**Custom AO with Open Difference Indicator**
This indicator, *Custom AO with Open Difference*, is designed to help confirm trend direction based on the relationship between the daily open price and recent 4-hour open prices. It calculates the Awesome Oscillator (AO) based on the difference between the daily open price and the average of the previous six 4-hour open prices. This approach provides insight into whether the current open price is significantly diverging from recent short-term opens, which can indicate a trend shift or continuation.
### Technical Analysis and Features
1. **Trend Confirmation**: By comparing the daily open with the mean of six previous 4-hour open prices, this indicator helps identify trends. When the current daily open is below the average of recent opens, the AO value will plot as green, signaling potential upward momentum. Conversely, if the daily open is above the recent average, the histogram will plot red, suggesting possible downward momentum.
2. **Non-Repainting**: Since it relies on completed 4-hour and daily open prices, this indicator does not repaint, ensuring that all values remain fixed after the close of each period. This non-repainting feature makes it suitable for backtesting and reliable for trend confirmation without fear of historical changes.
3. **AO Mean Calculation**: The indicator calculates the average of six previous 4-hour open prices, providing a smoothed value to reduce short-term noise. This helps in identifying meaningful deviations, making the AO values a more stable basis for trend determination than using just the latest 4-hour or daily open.
4. **Histogram for Visual Clarity**: The indicator is displayed as a histogram, making it easy to identify trend changes visually. If the AO bar turns green, it’s a signal that the 4-hour average is below the daily open, suggesting an uptrend or bullish momentum. Red bars indicate that the daily open is above the recent 4-hour averages, potentially signaling a downtrend or bearish momentum.
### Practical Application
The *Custom AO with Open Difference* is a versatile tool for confirming the open price trend without needing complex oscillators or lagging indicators. Traders can use this tool to gauge the market sentiment by observing open price variations and use it as a foundation for decision-making in both short-term and daily timeframes. Its non-repainting nature adds reliability for traders using this indicator as part of a broader trading strategy.
Arshtiq - Multi-Timeframe Trend StrategyMulti-Timeframe Setup:
The script uses two distinct timeframes: a higher (daily) timeframe for identifying the trend and a lower (hourly) timeframe for making trades. This combination allows the script to follow the larger trend while timing entries and exits with more precision on a shorter timeframe.
Moving Averages Calculation:
higher_ma: The 20-period Simple Moving Average (SMA) calculated based on the daily timeframe. This average gives a sense of the larger trend direction.
lower_ma: The 20-period SMA calculated on the hourly (current) timeframe, providing a dynamic level for detecting entry and exit points within the broader trend.
Trend Identification:
Bullish Trend: The script determines that a bullish trend is present if the current price is above the daily moving average (higher_ma).
Bearish Trend: Similarly, a bearish trend is identified when the current price is below this daily moving average.
Trade Signals:
Buy Signal: A buy signal is generated when the price on the hourly chart crosses above the hourly 20-period MA, but only if the higher (daily) timeframe trend is bullish. This ensures that buy trades align with the larger upward trend.
Sell Signal: A sell signal is generated when the price on the hourly chart crosses below the hourly 20-period MA, but only if the daily trend is bearish. This ensures that sell trades are consistent with the broader downtrend.
Plotting and Visual Cues:
Higher Timeframe MA: The daily 20-period moving average is plotted in red to help visualize the long-term trend.
Buy and Sell Signals: Buy signals appear as green labels below the price bars with the text "BUY," while sell signals appear as red labels above the bars with the text "SELL."
Background Coloring: The background changes color based on the identified trend for easier trend recognition:
Green (with transparency) when the daily trend is bullish.
Red (with transparency) when the daily trend is bearish.
