MACD Waves SignalsThia is a standard MACD inclucing thoses signals:
- White line, you are at the possible bottom or top of a flag or a reversal. See it, a warning.
- Green line , possible bullish reversal.
- Red line , possible bearish reversal.
How to use :
- Simply do your waves analysis using the standard MACD of the indicator.
- At critical prices in your analysis, a corresponding bar can help to validate your forecast.
- Do not do your forecast only based on signals.
Happy trading!
Cari dalam skrip untuk "wave"
Multiple Moving Averages (Rainbow Waves)Two moving averages with toggle for Rainbow Wave mode (total of 16 equally spaced moving averages)
EMA Wave and GRaB Candles by JustUncleLThis is a specialised Price Action Channel (PAC) or Wave that mirrors the indicator used by Raghee Horner, the "34EMA Wave and GRaB Candles".
The Wave consist of:
34 period exponential moving average on the high
34 period exponential moving average on the close
34 period exponential moving average on the low
The GRaB candles colour scheme:
Lime = Bull candle closed above Wave
Green = Bear candle closed above Wave
Red = Bull candle closed below Wave
DarkRed = Bear candle closed below Wave
Aqua = Bull candle closed inside Wave
Blue = Bear candle closed inside Wave
Optionally display a trend direction indication along bottom of chart.
References:
For some details on how Raghee uses this indicator check out this:
www.forexfactory.com
Also her various training and webinar videos on Youtube
Note: This code is licensed under open source GPLv3 terms and conditions. Any modifications to it should be made public and linked to the original code.
Price Wave V.1.0The Price Wave Indicator is very good add-on to the Volume wave which is an important tool in the Wyckoffian Analysis of the stocks. Along with the Volume wave it helps to understand the effort and result ratios and the consequent effect on the stocks. It has to be used in conjunction with the Volume wave and not useful on a standalone basis
BullTrading Chaos Trend WaveHave you ever wonder how the Elliott Wave looks like?
If you trade with price action you are going to love this stuff... It is based on the same Mandelbrot Chaos Theory principles in order to trade with Bill Williams fractals. Chaos Trend Wave indicator displays in your chart the different Elliott wave layers making price action trading very intuitive.
The standard settings are 126, 1, 5, 21 displaying the immediate bigger wave from your current layer, display settings for your current layer and "balance point" are: 126, 1, 3, 13. Use Fib sequence in the last two numbers in order to correctly change between wave layers: 126, 1, 8, 34 and 126, 1, 13, 55 (This is the higher setting, it is very useful to spot and trade trending markets).
MC Waves OscillatorMC Waves Oscillator © is one of the five MC Fractal Studies ©
MC Fractal Studies (c) disassemble the market data in an objective way and organize charts information in order to identify all the various Waves on all the various fractal scales, that make up the typical market charts, and show them to the eyes of investors in an inclusive but detailed way.
The ability to view and examine the multi-scale fractal market structure of a chart can immensely help an investor, giving him an edge that can be used to increase trading performance.
MC Waves SizeMC Waves Size © is one of the five MC Fractal Studies ©
MC Fractal Studies (c) disassemble the market data in an objective way and organize charts information in order to identify all the various Waves on all the various fractal scales, that make up the typical market charts, and show them to the eyes of investors in an inclusive but detailed way.
The ability to view and examine the multi-scale fractal market structure of a chart can immensely help an investor, giving him an edge that can be used to increase trading performance.
Elliot Wave OscillatorEWO Indicator, helps to indentify waves
Similar like LazyBear's Indicator: ElliotWave Oscillator
I extended and changed the following:
Allow custom SMA interval default 5 and 35. Dont use EMAs
Choose input source: default close, f.e. use HL2
Show difference of SMAs in percent based on current candle default "true", this is very useful for historical charts
[RS]MTF Donchian Range Wave Sync V1EXPERIMENTAL: using Donchian channels with diferent lengths to extract multiple time frame's to extract price in range rates. the title may be a tiny bit misleading tho -_-''
update: reversed colors, joined the line zone space to make the waves visually stand out more.
Momentum Wave Oscillator📈 Momentum Wave Oscillator (MWO) 📈
The Momentum Wave Oscillator (MWO) is a precision-designed tool for traders who want early, reliable insight into market shifts — before they fully appear on price charts.
Instead of reacting late to moves, MWO is engineered to anticipate changes in momentum by tracking market pressure within a dynamic range.
Its built-in bands and visual cues make it simple to spot key moments where momentum exhaustion, reversals, or fresh breakouts are most likely to occur.
How to Use:
Buy Zones: When the oscillator moves up from lower regions (typically below 20), it may indicate momentum building to the upside.
Sell Zones: When the oscillator moves down from upper regions (typically above 80), it may suggest momentum starting to weaken.
Dynamic Bands:
Unlike conventional fixed levels like 20 and 80, MWO features dynamic adaptive bands that better reflect real-time changes in market behavior.
Markets are fluid — volatility and momentum strength vary from cycle to cycle. Static zones can miss important shifts or produce false signals.
The dynamic bands allow the indicator to adapt naturally to changing conditions, offering more precise context for overbought, oversold, or breakout environments.
Background Colors and Labels:
Automatic highlights appear when potential turning points are detected, allowing traders to act quickly without chart clutter.
Best Practices:
Use the MWO as a confirmation tool alongside your existing strategy (trendlines, support/resistance, volume spikes, etc.).
Look for agreement between the MWO and price action for higher probability entries.
Avoid relying on it in isolation during extremely low-volume periods, where momentum may appear artificially weak or strong.
Adjust sensitivity settings depending on your trading style (scalping vs swing trading).
Important Note:
The MWO is designed for educational and informational purposes. No indicator can predict the future with certainty. Always combine it with proper risk management and your personal trading plan.
Renko Momentum Wave (RMW)Renko Momentum Wave
The Renko Momentum Wave (RMW) is a custom momentum oscillator specifically designed for Renko-based price action analysis. Unlike traditional oscillators that rely on time-based data, the RMW focuses on the directional consistency of Renko bricks, measuring the strength of trend momentum purely based on price movement.
[blackcat] L2 Wave Base CampOVERVIEW
The L2 Wave Base Camp indicator is a technical analysis tool designed to identify trends and potential trading signals by visualizing price and volume data through moving averages and relative strength calculations. It operates in its own panel on the trading chart, providing traders with a clear and color-coded representation of market conditions.
FEATURES
Customizable Base Camp Level: Users can set a horizontal line at a specific level to mark significant price points.
Color-Coded Histograms: Different colors indicate various market conditions, such as price position relative to moving averages.
Labeled Signals: The indicator labels potential "Valley" and "Top" points, suggesting buying and selling opportunities.
Volume Analysis: Incorporates volume data to identify potential trend reversals based on volume trends.
HOW TO USE
Set the Base Camp Level: Adjust the input parameter to define a significant price level.
Interpret Histogram Colors: Use the color-coded histograms to understand the current market condition.
Look for Labeled Signals: Pay attention to "Valley" and "Top" labels for potential trading opportunities.
Analyze Volume Trends: Monitor volume data for signs of trend reversals.
LIMITATIONS
Not a Standalone Tool: Should be used in conjunction with other indicators and analysis methods.
Backtesting Required: Essential to understand historical performance before live trading.
NOTES
The indicator uses moving averages (SMA) and relative strength calculations to smooth data and identify trends.
Crossover events between different moving averages generate buy and sell signals.
THANKS
Special thanks to the original author for developing this insightful trading tool.
[blackat] L1 Funding Bottom Wave█ OVERVIEW
The script "Funding Bottom Wave" is an indicator designed to analyze market conditions based on multiple smoothed price calculations and specific thresholds. It calculates several values such as B-value, VAR2-value, and additional signals like SK and SD to identify buy/sell levels and reversals, aiding traders in making informed decisions.
█ LOGICAL FRAMEWORK
The script consists of several main components:
• Input parameters that allow customization of calculation periods and thresholds.
• A custom function funding_wave that computes various financial metrics and conditions.
• Plotting commands to visualize different aspects of those computations.
Data flows from input parameters into the funding_wave function where calculations are performed. These results are then plotted according to specified conditions. The script uses conditional expressions to define when certain plots should appear based on the computed values.
█ CUSTOM FUNCTIONS
funding_wave Function:
This function takes six arguments: close_price, high_price, low_price, open_price, period_b, and period_var2. It performs several calculations including:
• Price range percentage normalized between lowest and highest prices over 60 bars.
• SMA of this value over periods defined by period_b and period_var2.
• Several moving averages (MA), EMAs, and extreme point markers (highest/lowest).
• Multiple condition checks involving these metrics leading to buy/high signal flags.
Returns: An array containing B-value, VAR2-value, SK-value, SD-value, along with various conditional signal indicators.
█ KEY POINTS AND TECHNIQUES
• Utilizes built-in TA functions (ta.highest, ta.lowest, ta.sma, ta.ema) for smoothing and normalization purposes.
• Implements extensive use of ternary operators and boolean logic to determine plot visibility based on specific criteria.
• Employs column-style plotting which highlights significant transitions in calculated metric levels visually.
• No explicit loops; computations utilize vectorized operations inherent to Pine Script's nature.
█ EXTENDED KNOWLEDGE AND APPLICATIONS
Potential modifications/extensions include:
• Adding alerts for key threshold crossovers or meeting certain conditions.
• Customizing more sophisticated alert messages incorporating current time and symbol details.
• Incorporating stop-loss/take-profit strategies dynamically adjusted by indicator outputs.
Similar techniques can be applied in:
• Developing robust trend-following systems combining momentum oscillators.
• Enhancing basic price action rulesets with statistical filters derived from historical data behaviors.
• Exploring intraday breakout strategies predicated upon sudden changes in market sentiment captured via volatility spikes.
Related concepts/features:
• Using arrays to encapsulate complex return structures for reusability across scripts/functions.
• Leveraging na effectively within plotting constructs ensures cleaner chart presentation avoiding clutter from irrelevant points.
█ MARKET MEANING OF DIFFERENT COLORED COLUMNS
Red Columns ("B above Var2"):
• Market Interpretation: When the red columns appear, it indicates that the B-value is higher than the VAR2-value. This suggests a strengthening upward trend or consolidation phase where the market might be experiencing buying pressure relative to recent trends.
• Trading Implication: Traders may consider this as a potentially bullish sign, indicating strength in the underlying asset.
Green Columns ("B below Var2"):
• Market Interpretation: Green columns indicate that the B-value is lower than the VAR2-value. This could suggest downward trend acceleration or weakening buying pressure compared to recent trends.
• Trading Implication: Traders might interpret this as a bearish signal, suggesting a possible decline in the market.
Aqua Columns ("SK below SD"):
• Market Interpretation: Aqua columns show instances where the SK-value is below the SD-value. This typically signifies that the short-term stochastic oscillator (or similar measure) is signaling oversold conditions but not yet reaching extremes.
• Trading Implication: While not necessarily a strong sell signal, aqua columns might prompt traders to look for further confirmation before entering long positions.
Fuchsia Columns ("SK above SD"):
• Market Interpretation: Fuchsia columns represent situations where the SK-value exceeds the SD-value. This usually indicates overbought conditions in the near term.
• Trading Implication: Traders often view fuchsia columns as cautionary signs, possibly prompting them to exit existing long positions or refrain from adding new ones without further analysis.
Yellow Columns ("High Condition" and "High Condition Both"):
• Market Interpretation: Yellow columns occur when either the SK-value or B-value crosses above predefined high thresholds (e.g., 90). If both cross simultaneously, they form "High Condition Both."
• Trading Implication: Strongly bullish signals indicating overheated markets prone to corrections. Traders may see this as a good opportunity to take profits or prepare for a pullback/corrective move.
Blue Columns ("Low Condition" and "Low Condition Both"):
• Market Interpretation: Blue columns emerge when either the SK-value or B-value drops below predefined low thresholds (e.g., 10). Simultaneous crossing forms "Low Condition Both."
• Trading Implication: Potentially bullish reversal setups once the market starts showing signs of bottoming out after being significantly oversold. Traders might use blue columns as entry points for establishing long positions or hedging against anticipated rebounds.
Light Purple Columns ("Low Condition with Reversal" and "Low Condition Both with Reversal"):
• Market Interpretation: Light purple columns signify moments when the SK-value or B-value falls below their respective thresholds but has started reversing upwards immediately afterward. If both fall and reverse together, it's denoted as "Low Condition Both with Reversal."
• Trading Implication: Suggests a possible early-stage rebound from an extended downtrend or sideways movement. This could be seen as a highly reliable bulls' flag formation setup.
White Columns ("High Condition with Reversal" and "High Condition Both with Reversal"):
• Market Interpretation: White columns denote scenarios where the SK-value or B-value breaches high thresholds (e.g., 90) but begins descending shortly thereafter. Both simultaneously crossing leads to "High Condition Both with Reversal."
• Trading Implication: Indicative of peak overbought conditions followed quickly by exhaustion in buying interest. This warns traders about potential imminent retracements or pullbacks, prompting exits or short positions.
█ SUMMARY TABLE OF COLUMN COLORS AND THEIR MEANINGS
Color Type Market Interpretation Trading Implication
Red B above Var2 Strengthening upward trend/consolidation Bullish sign
Green B below Var2 Downward trend acceleration/weakening buying pressure Bearish sign
Aqua SK below SD Oversold conditions but not extreme Cautionary signal
Fuchsia SK above SD Overbought conditions Take profit/precaution
Yellow High Condition / High Condition Both Overheated market, likely correction coming Good time to exit/additional selling
Blue Low Condition / Low Condition Both Possible bull/rebound setup Entry point/hedging
Light Purple Low Condition with Reversal / Low Condition Both with Reversal Early-stage rebound from downtrend Reliable bulls' flag formation
White High Condition with Reversal / High Condition Both with Reversal Peak overbought with imminent retracement Exit positions/warning
Understanding these color-coded signals can help traders make more informed decisions, whether for entry, exit, or risk management in trading strategies. Each set of colors provides distinct insights into market dynamics and trends, aiding in effective execution of trade plans.
[blackcat]L3 Strong Power Wave █ OVERVIEW
The script is an indicator named ' L3 Strong Power Wave' (SPW) designed to identify buy and sell signals based on the contraction and expansion of candlestick patterns. It calculates various indicators and plots them on a separate chart panel. The main purpose is to detect when candlestick patterns transition from contracting to expanding (buy signal) and from expanding to contracting (sell signal).
█ LOGICAL FRAMEWORK
The script is structured into several key sections:
Input Parameters and Initialization: The script uses indicator() to define the title, short title, and other properties.
Custom Functions: Several custom functions are defined for calculations, including calculate_weighted_moving_average, calculate_spw_variation, and calculate_strong_power_wave.
Calculations: The script performs complex calculations for the SPW indicators using multiple ta.alma and ta.sma functions.
Plotting: The indicators are plotted on the chart using plot().
Signal Detection: The script detects buy and sell signals based on changes in candlestick sizes.
Labeling: Buy and sell signals are indicated on the chart using label.new().
The flow of data and logic involves first calculating the SPW indicators, then plotting them, and finally detecting and labeling the buy and sell signals based on candlestick pattern changes.
█ CUSTOM FUNCTIONS
1 — calculate_weighted_moving_average(src, length, weight) :
• Purpose: Calculates a weighted moving average of the source data.
• Parameters: src (source data), length (period length), weight (weighting factor).
• Return Value: Weighted moving average value.
2 — calculate_spw_variation(base, multiplier) :
• Purpose: Computes a variation of the base value using a simple moving average and a multiplier.
• Parameters: base (base value), multiplier (multiplier factor).
• Return Value: Calculated variation value.
3 — calculate_strong_power_wave(src) :
• Purpose: Calculates multiple SPW indicators including various ta.alma and ta.sma values.
• Parameters: src (source data, typically close).
• Return Value: A tuple containing calculated SPW indicators.
█ KEY POINTS AND TECHNIQUES
• Weighted Moving Average: The script uses a custom function to calculate a weighted moving average, which can provide more emphasis on recent data points.
• Exponential Moving Averages (ALMA): The script uses ta.alma to smooth data, which is useful for identifying trends.
• Custom Indicators: The script defines and uses multiple custom indicators, demonstrating how to create and integrate complex calculations.
• Signal Detection: The script uses logical conditions to detect buy and sell signals based on candlestick pattern changes, showcasing practical application of technical analysis concepts.
• Labeling: The use of label.new() to mark buy and sell signals provides clear visual cues on the chart.
█ EXTENDED KNOWLEDGE AND APPLICATIONS
• Enhancements: The script could be enhanced by adding additional filters or parameters to refine signal accuracy.
• Backtesting: Implementing backtesting to evaluate the effectiveness of the buy and sell signals.
• Optimization: Optimizing the parameters of the moving averages and multipliers to better suit different market conditions.
• Alternative Indicators: Exploring other indicators that could complement or replace the SPW indicators.
• Related Concepts: Understanding the principles of candlestick pattern analysis and how they can be integrated into Pine Script.
Dynamic Fibonacci Retracement 3d / TradingArt3dDynamic Fibonacci Retracement - TradingArt3d.
The Dynamic Fibonacci Retracement is an advanced indicator based on the classic Fibonacci concept, adapted to the dynamic movements of the market. Unlike traditional retracements that remain static, this indicator adjusts Fibonacci levels based on the most relevant moving averages for each market condition, providing more accurate support and resistance levels.
Key Features:
• Fibonacci Moving Averages: Choose Fibonacci moving averages ranging from 1 to 4181.
• Dynamic Recursiveness: Automatically adjusts moving averages through a dynamic algorithm to identify the most representative support and resistance levels on the chart.
• Full Customization: Modify the colors, thickness, and resolution of moving average lines to suit your preferences.
• Mamut Wave Viewer: Intuitive RSI-based visualization to support decision-making in your analysis.
• Visualization Optimization: Options to enhance visualization, including enabling or disabling even or odd recursive moving averages.
Usage Tips:
• Use multiple instances of the indicator to overlay different moving average configurations, obtaining a more precise representation of Fibonacci levels.
• Experiment with different combinations of colors and resolutions to tailor the visualization to your analytical needs.
Archiving Your Analysis:
To preserve your technical analysis and keep a record of your configurations, follow these steps to archive them in TradingView:
1. Adjust the chart and indicator settings as desired.
2. Set your browser zoom to 25% to achieve the best possible resolution and maximize CPU efficiency.
3. Click the "capture image" icon at the top of the screen, or use the keyboard shortcut Alt + Ctrl + S (on PC) or Option + Command + S (on Mac).
4. Save the analysis image in your TradingArt Library for future reference or to share with others.
This functionality allows you to maintain a visual record of your analyses and track your strategies more effectively over time.
Support and Questions:
If you have any questions about using the indicator, feel free to leave a comment in the Comments section of this post or contact me through my TradingView profile. I’ll be happy to help resolve any issues and provide further details about its functionality
Trade Wave [Bluechip Algos]Trade Wave is a momentum-based indicator designed to show reversal signals. Most of the time, markets are in range bound and this indicator tries to show you the overbought and oversold zone of the time frame you select. It works well during range bound market giving you reversal signals at highs and lows of the range. One can make use of "Momentum tuning" in inputs section to pick the level of momentum aggressiveness. If value is higher, signals will be lesser and if value is low signals will be more. One can also choose different types of stop-losses and targets.
Stop Loss Types:
Fixed SL: Set a fixed stop loss value for consistent risk management.
Dynamic SL: Adjusts with the market, providing a flexible stop loss that moves with price changes.
Previous Candle SL: Stop losses based on the recent low (for sell signals) or high (for buy signals) of the last few candles.
Target Types:
Fixed Target: Set a fixed target value for consistent profit goals.
Dynamic Target: Adjusts with market movements to maximize potential gains.
Risk:Reward Target: Define targets based on SL risk:reward ratios (e.g., 1:2), allowing for personalized risk management strategies.
Suggestion: It's better to take reversal confirmation from multiple time frames instead of relying on just one.
Prometheus Fractal WaveThe Fractal Wave is an indicator that uses a fractal analysis to determine where reversals may happen. This is done through a Fractal process, making sure a price point is in a certain set and then getting a Distance metric.
Calculation:
A bullish Fractal is defined by the current bar’s high being less than the last bar’s high, and the last bar’s high being greater than the second to last bar’s high, and the last bar’s high being greater than the third to last bar’s high.
A bearish Fractal is defined by the current low being greater than the last bar’s low, and the last bar’s low being less than the second to last bar’s low, and the last bar’s low being less than the third to last bar’s low.
When there is that bullish or bearish fractal the value we store is either the last bar’s high or low respective to bullish or bearish fractal.
Once we have that value stored we either subtract the last bar’s low from the bullish Fractal value, and subtract the last bar’s high from the bearish Fractal value. Those are our Distances.
Code:
isBullishFractal() =>
high > high and high < high and high > high
isBearishFractal() =>
low < low and low > low and low < low
var float lastBullishFractal = na
var float lastBearishFractal = na
if isBullishFractal() and barstate.isconfirmed
lastBullishFractal := high
if isBearishFractal() and barstate.isconfirmed
lastBearishFractal := low
//------------------------------
//-------CACLULATION------------
//------------------------------
bullWaveDistance = na(lastBullishFractal) ? na : lastBullishFractal - low
bearWaveDistance = na(lastBearishFractal) ? na : high - lastBearishFractal
We then plot the bullish distance and the negative bearish distance.
The trade scenarios come from when one breaks the zero line and then goes back above or below. So if the last bullish distance was below 0 and is now above, or if the last negative bearish distance was above 0 and now below. We plot a green label below a candle for a bullish scenario, or a red label above a candle for a bearish one, you can turn them on or off.
Code:
plot(bullWaveDistance, color=color.green, title="Bull Wave Distance", linewidth=2)
plot(-bearWaveDistance, color=color.red, title="Bear Wave Distance", linewidth=2)
plot(0, "Zero Line", color=color.gray, display = display.pane)
bearish_reversal = plot_labels ? bullWaveDistance < 0 and bullWaveDistance > 0 : na
bullish_reversal = plot_labels ? -bearWaveDistance > 0 and -bearWaveDistance < 0 : na
plotshape(bullish_reversal, location=location.belowbar, color=color.green, style=shape.labelup, title="Bullish Fractal", text="↑", display = display.all - display.status_line, force_overlay = true)
plotshape(bearish_reversal, location=location.abovebar, color=color.red, style=shape.labeldown, title="Bearish Fractal", text="↓", display = display.all - display.status_line, force_overlay = true)
We can see in this daily NASDAQ:QQQ chart that the indicator gives us marks that can either be used as Reversal signals or as breathers in the trend.
Since it is designed to provide reversals, on something like Gold where the uptrend has been strong, the signals may be just short breathers, not full blown strong reversal signs.
The indicator works just as well intra day as it does on larger timeframes.
We encourage traders to not follow indicators blindly, none are 100% accurate. Please comment on any desired updates, all criticism is welcome!
Bitcoin Wave RainbowThis Bitcoin Wave Rainbow model is a powerful tool designed to help traders of all levels understand and navigate the Bitcoin market. It works only with BTC in any timeframe, but better looks in dayly or weekly timeframes. It provides valuable insights into historical price behavior and offers forecasts for the next decade, making it an essential asset for both short-term and long-term strategies.
How the Model Works
The model is built on a logarithmic trend, also known as a power law, represented by the green line on the chart. This line illustrates the expected price trajectory of Bitcoin over time. The model also incorporates a range of price fluctuations around this trend, represented by colored bands.
The width of these bands narrows over time, indicating that the model becomes increasingly accurate as it progresses. This is due to the exponential decrease in the range of price fluctuations, making the model a reliable tool for predicting future price movements.
Understanding the Zones
Blue Zone: This zone signifies that the price is below its trend, making it a recommended area for buying Bitcoin. It represents a level where the price is unlikely to fall further, providing a potential opportunity for accumulation.
Green Zone: This zone represents a fair price range, where the price is relatively close to its trend. In this zone, the price may continue to go up or down, depending on the halving season. ransiting up around any halving and transiting down around 2 years after each halving.
Yellow Zone: This zone indicates that the price is somewhat overheated, often due to the hype following a halving event. While there may still be room for the price to rise, traders should exercise caution in this zone, as a price correction could occur.
Red Zone: This zone represents a strong overbought condition, where the price is significantly above its trend. Traders should be extremely cautious in this zone and consider reducing their positions, as the price is likely to revert back towards the trend or even lower.
Using the Model in Your Trading Strategy
This indicator can be used in conjunction with the Bitcoin Wave Model, which complements it by showing harmonic price fluctuations associated with halving events. Together, these indicators provide a comprehensive view of the Bitcoin market, allowing traders to make informed decisions based on both historical data and future projections.
Benefits for Traders
This Bitcoin price model offers numerous benefits for traders, including:
Clear Visualization: The model provides a clear and concise visual representation of Bitcoin's price behavior, making it easy to understand and interpret.
Accurate Forecasting: The model's accuracy increases over time, providing reliable forecasts for future price movements.
Risk Management: The model helps traders identify overbought and oversold conditions, allowing them to manage their risk more effectively.
Strategic Decision-Making: By understanding the different zones and their implications, traders can make more informed decisions about when to buy, sell, or hold Bitcoin.
By incorporating this Bitcoin price model into your trading strategy, you can gain a deeper understanding of the market dynamics and improve your chances of success.
Smart Money Setup 04 [TradingFinder] Three Drive (Harmonic) + OB🔵 Introduction
The "Three Drive" pattern is a well-known formation in technical analysis, recognized for its ability to signal potential trend reversals in price action. Within the realm of trading, particularly in the context of "Reversal Patterns," the Three Drive pattern holds significance as a reliable indicator of shifts in market sentiment.
🟣 Bullish 3 Drive
This pattern typically manifests at a price bottom, where a sequence of lower lows suggests a prevailing negative trend. However, within the structure of the Three Drive pattern, a notable occurrence unfolds.
The second low breaches the range of the first low, followed by the third low surpassing the range of the second low. These penetrations signify a diminishing selling pressure and an emerging buying interest.
Traders often await the confirmation of the third low surpassing the second low as an entry point, with price targets set at the highs formed within the Three Drive pattern.
🟣 Bearish 3 Drive
Conversely, the Bearish Three Drive pattern emerges at a price top, characterized by a sequence of higher highs indicating an upward trend. Yet, amidst this apparent bullish momentum, a shift occurs.
The second high breaks beyond the range of the first high, succeeded by the third high exceeding the range of the second high. These breaches signify a waning buying strength and a resurgence in selling pressure.
Entry into a trade is often executed after the confirmation of the third high surpassing the second high, with targets set at the lows formed within the Three Drive pattern.
Importance :
Understanding the Three Drive pattern's significance extends beyond mere technical analysis. It bears resemblance to other established patterns, such as the Harmonic Pattern and Ending Diagonal within the Elliott Wave Theory.
Recognizing these parallels aids traders in comprehending broader market dynamics and potential price movements.
🔵 Formation of 3 Drive in Order Block Zone
The convergence of the Three Drive pattern with the concept of the Order Block Zone introduces a nuanced layer to traders' analytical approach.
In "Price Action" methodology, Order Blocks represent areas on the price chart where significant market players, such as institutional traders, have executed notable orders.
These zones often act as barriers, with price encountering resistance or support upon reaching them.
When the Three Drive pattern forms within an Order Block Zone, it signifies a confluence of market dynamics.
The completion of the pattern within this zone suggests a potential reversal in the prevailing trend, augmented by the presence of significant institutional orders.
Traders incorporate these Order Blocks into their analysis to identify probable levels where price may change direction, enhancing the reliability of their trading decisions.
🔵 How to Use :
To effectively utilize the Three Drive pattern within the Order Block Zone, traders seek alignment between the completion of the pattern and the presence of significant Order Blocks.
This convergence enhances the reliability of the pattern's signals, increasing the likelihood of successful trade outcomes.
Bullish Three Drive in Demand Zone :
Bearish Three Drive in Supply Zone :
Settings :
You can set your desired "Pivot Period" via settings for the indicator to identify setups based on it.
Event Locator BasicUsable under any conditions and in all markets, the 'event locator' provides a foundational layer for any count-based trading strategy or system. This specific installment color codes events - all down events are green, up events are blue, double-marked events are red, and smooth events are gray. It also wraps the price sequence in a 3-d line landscape plot - providing a visual using lines that are event sensitive. Though events are sometimes referred to as 'fractals,' this is not a fractal tool. These marks are based on 3 candles, not 5 as is common with the Bill Williams fractal scripts. Every countable event on the chart will be marked using this tool. Really, Elliott Wave should have told you about this... (because you can't legitimately count w/o it)
//This indicator was originally a mod of the 'Williams Fractals' indicator - modified by Erek A.D., Nov. 2017
//It was rewritten from the ground up by 'Brobear' in Sept./Oct. 2018
//This code marks 'rough' AND 'smooth' EVENTS in price flow
//EVENTS are naturally created in markets when SEPARATION occurs at candle tips
//SEPARATION happens when a high is flanked by lower highs or a low is flanked by higher lows
//EVENT LOCATORS like this provide an objective foundation for counting price movement
DlineDline is a indicator that was developed by B-Negative. This indicator was developed under convergence logic. If we have many information of prices, when the information was averaged with more enough, the average line will be the linear line that has direction. The direction of this linear line can help traders to analyze the direction of trends. Dline was made with TEMA, EMA, DEMA, and Dline line that is a average line between DEMA and EMA.
Under B-Negative's concept, DEMA and EMA that are average lines will convergence and have same direction when the trends are coming. Amount of data must more enough and diferrect by assets' type. However, user can change value of DEMA, Dline, EMA, and TEMA by themself under 7 concepts below.
1. EMA will convergence to close Dline when the trend will be changing.
2. The uptrend will occure when EMA above/below Dline and candle sticks are green/red color.
3. TEMA was setted similair DEMA.
4. When new high/low of wave cross TEMA and can not retrun to create higher/lower high/low (At oversold/overbought, Stocastic 9,3,3 counting with loop technique), that is exit point of position.
5. Difference of timeframe or assets could use different parameters. (Setting based on 4 rule above.)
6. Divergence between Dline and EMA mean sentiment of assets are sideways.
7. If Dline and EMA look like same line, the trend is most strength trend.
Dline use thickness = 4
EMA use thickness = 1
This ex. is timeframe day.
TTM Wave ABC By GanymedeNilTo facilitate the production of an open source version of the strategy TTM Wave ABC
3D Sine WaveIt's a 3D sine wave! Cool!
I made a cube follow a sine wave, it doesn't reflect any data on the chart, it just looks pretty. There are some settings to play around with, too.
You could plug the cube into any input you like, just replace the 'wave' variable with whatever you want.
Watch it on the 1 second timeframe!
