OPEN-SOURCE SCRIPT
Turtle soup
Hi all!
This indicator will show you turtle soups. The logic is that pivots detected from a higher timeframe, with the pivot lengths of left and right in the settings, will be up for 'grabs' by price that spents more than one candle above/below the pivot.
If only one candle is beyond the pivot it's a liquidity sweep or grab. Liquidity sweeps can be discovered through my script 'Market structure' (tradingview.com/script/ud6AQSm2-Market-structure/), but this script will discover turtle soup entries with false breakouts that takes liquidity.
The turtle soup can have a confirmation in the terms of a change of character (CHoCH). The turtle soup strategy usually comes with some sort of confirmation, in this case a CHoCH, but it can also be a market structure shift (MSS) or a change in state of delivery (CISD).
Turtle soups (pivots that have been 'taken') within a turtle soup will also be visible (but not have a turtle).
Alerts are available for when a turtle soup setup occurs and you can set the alert frequency of your liking (to get early signals with a script that might repaint or wait for a closed candle).
I hope that this description makes sense, tell me otherwise. Also tell me if you have any improvements or feature requests.
Best of trading luck!
The chart in the publication contains a 4 hour chart with a daily timeframe and confirmations with CHoCH.
This indicator will show you turtle soups. The logic is that pivots detected from a higher timeframe, with the pivot lengths of left and right in the settings, will be up for 'grabs' by price that spents more than one candle above/below the pivot.
If only one candle is beyond the pivot it's a liquidity sweep or grab. Liquidity sweeps can be discovered through my script 'Market structure' (tradingview.com/script/ud6AQSm2-Market-structure/), but this script will discover turtle soup entries with false breakouts that takes liquidity.
The turtle soup can have a confirmation in the terms of a change of character (CHoCH). The turtle soup strategy usually comes with some sort of confirmation, in this case a CHoCH, but it can also be a market structure shift (MSS) or a change in state of delivery (CISD).
Turtle soups (pivots that have been 'taken') within a turtle soup will also be visible (but not have a turtle).
Alerts are available for when a turtle soup setup occurs and you can set the alert frequency of your liking (to get early signals with a script that might repaint or wait for a closed candle).
I hope that this description makes sense, tell me otherwise. Also tell me if you have any improvements or feature requests.
Best of trading luck!
The chart in the publication contains a 4 hour chart with a daily timeframe and confirmations with CHoCH.
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.