Wyckoff Trading Range

16 mars 2024

Wyckoff Trading Range Indicator - an indispensable tool for the astute trader. Uniquely capable of identifying and charting Wyckoff trading ranges, this indicator not only accurately pinpoints accumulation and distribution phases but also marks key events, ensuring you never miss significant trading opportunities. Moreover, with the ability to calculate target profits through the Point and Figure (PNF) method, this indicator becomes a powerful assistant, enabling you to make informed, calculated trading decisions. Let the Wyckoff Trading Range Indicator unlock the door to success in your trading world.


⭐️ Wyckoff Price Cycle

According to Wyckoff, the market can be understood and anticipated through detailed analysis of supply and demand, which can be ascertained from studying price action, volume and time. As a broker, he was in a position to observe the activities of highly successful individuals and groups who dominated specific issues; consequently, he was able to decipher, via the use of what he called vertical (bar) and figure (Point and Figure) charts, the future intentions of those large interests. An idealized schematic of how he conceptualized the large interests' preparation for and execution of bull and bear markets is depicted in the figure below. The time to enter long orders is towards the end of the preparation for a price markup or bull market (accumulation of large lines of stock), while the time to initiate short positions is at the end of the preparation for price markdown.



⭐️ FEATURES
- Supply and Demand Zones: <deleted>
- Wyckoff Schematics and Events.
- Point and Figure (PNF) Target.





* View with PNF chart






⭐️ USAGES

When it comes to trading using the Wyckoff method, there are five key points to consider for entering trades, as illustrated below

Point #1: Trade in the direction of the previous trend (Phase B)
Point #2: Trade against the previous trend. (Phase B)
Point #3: Identify the point of strength that forms a new trend. (Phase C)
Point #4: Confirm the new trend. (Phase D)
Point #5: Ensure that prices move in the correct direction and do not revert within the Trading Range (dont break LPS/LPSY). (Phase E)





⭐️NOTES:
- Use the 1 minute or 5 minute timeframe to view the bias dashboard. Using a timeframe longer than 5 minute may provide an inaccurate bias view.
- The alert new TR function will give you alert 6 timeframe on dashboard with only one setup. The best timeframe to set up an alert is 2 hours.

17 mars 2024

Notes de version

Optimize code

23 mars 2024

Notes de version

- Fix label events.
- Merge 4 offsets into 1 and rename it to “Radius.”

25 mars 2024

Notes de version

Hot fix: Correct TP on bias dashboard.

26 mars 2024

Notes de version

Set default radius = 20 to get better TR

27 mars 2024

Notes de version

Correct min and max tp on bias dashboard

29 mars 2024

Notes de version

- Refactor code
- Tweak some settings to get better TR and TP PNF

1 avr. 2024

Notes de version

- Add a “Normal” mode for TR search. “Delta” mode (default) is used in versions lower than 1.0.7.
- Update the HTF Top/Bot Trading Range inspired by PDH/PDL.

1 avr. 2024

Notes de version

- Fix typo.

2 avr. 2024

Notes de version

- Add new setting "Max Trading Range"

6 avr. 2024

Notes de version

- Fix SDZ and LPS/LPSY bugs.

13 mai 2024

Notes de version

- Update max_boxes_count to 500

19 mai 2024

Notes de version

- Rewrite Liquidity and SCOB
- Update EQH/EQL

2 juin 2024

Notes de version

- Refactor code

6 juin 2024

Notes de version

- Fix bugs.
- Optimize code.

6 juin 2024

Notes de version

- Fix volume zone.

2 juil. 2024

Notes de version

- Update buy/sell signal

9 juil. 2024

Notes de version

- Fix bugs

30 juil. 2024

Notes de version

- Update text size

24 oct. 2024

Notes de version

- Remove Snd.
- Remove Liquidity.
- Remove Signals.
- Rewrite new logic for finding/analyzing Trading Range.

20 févr.

Notes de version

Optimize code