Mongoose Market Tracker
**Mongoose Market Tracker**
The **Mongoose Market Sentinel** script is a custom indicator designed to help traders identify unusual market activity that may indicate potential manipulation. This script uses dynamic volume and price action analysis to highlight areas where sudden spikes in volume or irregular candle structures occur.
### Features:
- **Volume Spike Detection**: Flags areas where trading volume significantly deviates from the average, potentially signaling manipulation or abnormal market behavior.
- **Wick-to-Body Ratio Analysis**: Detects candles with disproportionate wicks compared to their bodies, which may indicate price manipulation or liquidity hunting.
- **Auto-Adjusting Thresholds**: Automatically optimizes detection parameters based on the selected time frame, making it suitable for both short-term and long-term analysis.
- **Visual Alerts**: Highlights suspicious activity directly on the chart with clear labels and background coloring, designed for easy readability in dark mode.
- **Customizable Alerts**: Allows users to set notifications for flagged events, ensuring timely awareness of potential risks.
### Intended Use:
This script is a tool for monitoring market behavior and is not a standalone trading strategy. Traders should use it as a supplementary analysis tool alongside other indicators and market knowledge. Always conduct your own research and practice risk management when making trading decisions.
Candlestick analysis
DayTrade with Gap+EMA+VWAPThis script covers 2 timeframe EMAs along with VWAP from session open to identify day trades. works well with gap movers
Entry Price % Difference//@version=5
indicator("Entry Price % Difference", overlay=true)
// User input for entry price
entryPrice = input.float(title="Entry Price", defval=100.0, step=0.1)
// Draggable input for profit and stop loss levels
profitLevel = input.float(title="Profit Level (%)", defval=10.0, step=0.1)
stopLossLevel = input.float(title="Stop Loss Level (%)", defval=-10.0, step=0.1)
// User input for USDT amount in the trade
usdtAmount = input.float(title="USDT Amount", defval=1000.0, step=1.0)
// User input for trade type (Long or Short)
tradeType = input.string(title="Trade Type", defval="Long", options= )
// User input for line styles and colors
profitLineStyle = input.string(title="Profit Line Style", defval="Dotted", options= )
profitLineColor = input.color(title="Profit Line Color", defval=color.green)
profitLineWidth = input.int(title="Profit Line Width", defval=1, minval=1, maxval=5)
stopLossLineStyle = input.string(title="Stop Loss Line Style", defval="Dotted", options= )
stopLossLineColor = input.color(title="Stop Loss Line Color", defval=color.red)
stopLossLineWidth = input.int(title="Stop Loss Line Width", defval=1, minval=1, maxval=5)
entryLineColor = input.color(title="Entry Line Color", defval=color.blue)
entryLineWidth = input.int(title="Entry Line Width", defval=1, minval=1, maxval=5)
// User input for label customization
labelTextColor = input.color(title="Label Text Color", defval=color.white)
labelBackgroundColor = input.color(title="Label Background Color", defval=color.gray)
// User input for fee percentage
feePercentage = input.float(title="Fee Percentage (%)", defval=0.1, step=0.01)
// Map line styles
profitStyle = profitLineStyle == "Solid" ? line.style_solid : profitLineStyle == "Dotted" ? line.style_dotted : line.style_dashed
stopLossStyle = stopLossLineStyle == "Solid" ? line.style_solid : stopLossLineStyle == "Dotted" ? line.style_dotted : line.style_dashed
// Calculate percentage difference
livePrice = close
percentDifference = tradeType == "Long" ? ((livePrice - entryPrice) / entryPrice) * 100 : ((entryPrice - livePrice) / entryPrice) * 100
// Calculate profit or loss
profitOrLoss = usdtAmount * (percentDifference / 100)
// Calculate fees and net profit or loss
feeAmount = usdtAmount * (feePercentage / 100)
netProfitOrLoss = profitOrLoss - feeAmount
// Display percentage difference, profit/loss, and fees as a single label following the current price
if bar_index == last_bar_index
labelColor = percentDifference >= 0 ? color.new(color.green, 80) : color.new(color.red, 80)
var label plLabel = na
if na(plLabel)
plLabel := label.new(bar_index + 1, livePrice + (livePrice * 0.005), str.tostring(percentDifference, "0.00") + "% " + "P/L: " + str.tostring(netProfitOrLoss, "0.00") + " USDT (Fee: " + str.tostring(feeAmount, "0.00") + ")",
style=label.style_label_down, color=labelBackgroundColor, textcolor=labelTextColor)
else
label.set_xy(plLabel, bar_index + 1, livePrice + (livePrice * 0.005))
label.set_text(plLabel, str.tostring(percentDifference, "0.00") + "% " + "P/L: " + str.tostring(netProfitOrLoss, "0.00") + " USDT (Fee: " + str.tostring(feeAmount, "0.00") + ")")
label.set_color(plLabel, labelBackgroundColor)
label.set_textcolor(plLabel, labelTextColor)
// Calculate profit and stop loss levels based on trade type
profitPrice = tradeType == "Long" ? entryPrice * (1 + profitLevel / 100) : entryPrice * (1 - profitLevel / 100)
stopLossPrice = tradeType == "Long" ? entryPrice * (1 + stopLossLevel / 100) : entryPrice * (1 - stopLossLevel / 100)
// Plot profit, stop loss, and entry price lines
line.new(x1=bar_index - 1, y1=profitPrice, x2=bar_index + 1, y2=profitPrice, color=profitLineColor, width=profitLineWidth, style=profitStyle)
line.new(x1=bar_index - 1, y1=stopLossPrice, x2=bar_index + 1, y2=stopLossPrice, color=stopLossLineColor, width=stopLossLineWidth, style=stopLossStyle)
line.new(x1=bar_index - 1, y1=entryPrice, x2=bar_index + 1, y2=entryPrice, color=entryLineColor, width=entryLineWidth, style=line.style_solid)
// Show percentage difference in the price scale
plot(percentDifference, title="% Difference on Price Scale", color=color.new(color.blue, 0), linewidth=0, display=display.price_scale)
// Add alerts for profit and stop loss levels
alertcondition(livePrice >= profitPrice, title="Profit Target Reached", message="The price has reached or exceeded the profit target.")
alertcondition(livePrice <= stopLossPrice, title="Stop Loss Triggered", message="The price has reached or dropped below the stop loss level.")
Ema plus DSGreetings everyone! I've been thoroughly enjoying refining this strategy over the past few weeks. After much hard work and dedication, I am finally ready to release it to the public and share what I have been diligently working on.
This strategy enables you to see an entry and exit in a trade. The logic behind this is to identify potential support and resistance levels based on fractal swing highs and swing lows and validate these levels using ATR analysis.
The Ema+ :
This calculates the Exponential Moving Average (EMA) using the “Close” value and length of “50”. It plots the calculated EMA on the chart, The Ema color is determined by a ternary operator that checks if the previous close price is greater than the EMA and the current close price is also greater than the EMA, in which case the color is set to green, otherwise it is set to red.
The Dynamic Structure DS:
Identifies support and resistance zones based on fractal swing highs and swing lows, as well as Average True Range (ATR) analysis. The script takes several user inputs, including the ATR movement required, the lookback period for detecting swing highs and lows, the maximum zone size compared to ATR, the zone update count before reset, and a boolean flag to determine whether to draw the previous structure (i.e., support-turned-resistance and resistance-turned-support).
This script uses the ta.atr() function to calculate the ATR value for a given period (default is 14). It then detects fractal swing highs and swing lows based on the highest and lowest bodies of candles, respectively, within the specified lookback period. If a swing high or swing low is detected, the script calculates the potential resistance and support levels based on the difference between the swing high/low and the previous swing high/low.
It also checks for significant declines and rallies since detecting the swing highs and swing lows, respectively, based on the ATR movement required. If a significant decline or rally is detected, the script stores the previous resistance and support levels in variables and updates the current resistance and support levels in variables.
And It logic for counting the number of times a resistance or support level has been violated without being reset. If a resistance or support level has been violated, the script resets the search for new resistance or support levels.
This script also includes logic for checking if the previous resistance or support level has been violated, and resetting the potential resistance or support levels if they have been. It also includes logic for drawing the previous structure (i.e., support-turned-resistance and resistance-turned-support) based on user input.
Overall, this script aims to identify potential support and resistance levels based on fractal swing highs and swing lows and validate these levels using ATR analysis, while also providing functionality for resetting the search for new levels if the previous levels have been violated.
I sincerely appreciate your efforts in giving my strategy a try. Wishing you the utmost success in your endeavors. Don't forget to follow me for future updates!
Ema plus DS
Greetings everyone! I've been thoroughly enjoying refining this strategy over the past few weeks. After much hard work and dedication, I am finally ready to release it to the public and share what I have been diligently working on.
This strategy enables you to see an entry and exit in a trade. The logic behind this is to identify potential support and resistance levels based on fractal swing highs and swing lows and validate these levels using ATR analysis.
The Ema+ :
This calculates the Exponential Moving Average (EMA) using the “Close” value and length of “50”. It plots the calculated EMA on the chart, The Ema color is determined by a ternary operator that checks if the previous close price is greater than the EMA and the current close price is also greater than the EMA, in which case the color is set to green, otherwise it is set to red.
The Dynamic Structure DS:
Identifies support and resistance zones based on fractal swing highs and swing lows, as well as Average True Range (ATR) analysis. The script takes several user inputs, including the ATR movement required, the lookback period for detecting swing highs and lows, the maximum zone size compared to ATR, the zone update count before reset, and a boolean flag to determine whether to draw the previous structure (i.e., support-turned-resistance and resistance-turned-support).
This script uses the ta.atr() function to calculate the ATR value for a given period (default is 14). It then detects fractal swing highs and swing lows based on the highest and lowest bodies of candles, respectively, within the specified lookback period. If a swing high or swing low is detected, the script calculates the potential resistance and support levels based on the difference between the swing high/low and the previous swing high/low.
It also checks for significant declines and rallies since detecting the swing highs and swing lows, respectively, based on the ATR movement required. If a significant decline or rally is detected, the script stores the previous resistance and support levels in variables and updates the current resistance and support levels in variables.
And It logic for counting the number of times a resistance or support level has been violated without being reset. If a resistance or support level has been violated, the script resets the search for new resistance or support levels.
This script also includes logic for checking if the previous resistance or support level has been violated, and resetting the potential resistance or support levels if they have been. It also includes logic for drawing the previous structure (i.e., support-turned-resistance and resistance-turned-support) based on user input.
Overall, this script aims to identify potential support and resistance levels based on fractal swing highs and swing lows and validate these levels using ATR analysis, while also providing functionality for resetting the search for new levels if the previous levels have been violated.
I sincerely appreciate your efforts in giving my strategy a try. Wishing you the utmost success in your endeavors. Don't forget to follow me for future updates!
Engulfing Candlestick StrategyEver wondered whether the Bullish or Bearish Engulfing pattern works or has statistical significance? This script is for you. It works across all markets and timeframes.
The Engulfing Candlestick Pattern is a widely used technical analysis pattern that traders use to predict potential price reversals. It consists of two candles: a small candle followed by a larger one that "engulfs" the previous candle. This pattern is considered bullish when it occurs in a downtrend (bullish engulfing) and bearish when it occurs in an uptrend (bearish engulfing).
Statistical Significance of the Engulfing Pattern:
While many traders rely on candlestick patterns for making decisions, research on the statistical significance of these patterns has produced mixed results. A study by Dimitrios K. Koutoupis and K. M. Koutoupis (2014), titled "Testing the Effectiveness of Candlestick Chart Patterns in Forex Markets," indicates that candlestick patterns, including the engulfing pattern, can provide some predictive power, but their success largely depends on the market conditions and timeframe used. The researchers concluded that while some candlestick patterns can be useful, traders must combine them with other indicators or market knowledge to improve their predictive accuracy.
Another study by Brock, Lakonishok, and LeBaron (1992), "Simple Technical Trading Rules and the Stochastic Properties of Stock Returns," explores the profitability of technical indicators, including candlestick patterns, and finds that simple trading rules, such as those based on moving averages or candlestick patterns, can occasionally outperform a random walk in certain market conditions.
However, Jorion (1997), in his work "The Risk of Speculation: The Case of Technical Analysis," warns that the reliability of candlestick patterns, including the engulfing patterns, can vary significantly across different markets and periods. Therefore, it's important to use these patterns as part of a broader trading strategy that includes other risk management techniques and technical indicators.
Application Across Markets:
This script applies to all markets (e.g., stocks, commodities, forex) and timeframes, making it a versatile tool for traders seeking to explore the statistical effectiveness of the bullish and bearish engulfing patterns in their own trading.
Conclusion:
This script allows you to backtest and visualize the effectiveness of the Bullish and Bearish Engulfing patterns across any market and timeframe. While the statistical significance of these patterns may vary, the script provides a clear framework for evaluating their performance in real-time trading conditions. Always remember to combine such patterns with other risk management strategies and indicators to enhance their predictive power.
GB_Sir : 15 Min Inside Candle SetupIt fetches 15 Min Inside Candle Setup on chart. It draws lines on High and Low of 2nd candle. These lines are persistent even after changing timeframe of chart to any lower time frame. This helps to easily manage the trade on lower timeframe.
Daytrading ES Wick Length StrategyThis Pine Script strategy calculates the combined length of upper and lower wicks of candlesticks and uses a customizable moving average (MA) to identify potential long entry points. The strategy compares the total wick length to the MA with an added offset. If the wick length exceeds the offset-adjusted MA, the strategy enters a long position. The position is automatically closed after a user-defined holding period.
Key Features:
1. Calculates the sum of upper and lower wicks for each candlestick.
2. Offers four types of moving averages (SMA, EMA, WMA, VWMA) for analysis.
3. Allows the user to set a customizable MA length and an offset to shift the MA.
4. Automatically exits positions after a specified number of bars.
5. Visualizes the wick length as a histogram and the offset-adjusted MA as a line.
References:
• Candlestick wick analysis: Nison, S. (1991). Japanese Candlestick Charting Techniques.
• Moving averages: Brock, W., Lakonishok, J., & LeBaron, B. (1992). “Simple Technical Trading Rules and the Stochastic Properties of Stock Returns”. Journal of Finance.
This strategy is suitable for identifying candlesticks with significant volatility and long wicks, which can indicate potential trend reversals or continuations.
Omid's Reversal Detectorsimple reversal detector. using RSI and SMA
How it Works:
• RSI highlights overbought/oversold zones.
• Candlestick Patterns like engulfing and doji suggest potential reversals.
• Divergence between price and RSI signals trend exhaustion.
• Moving Average confirms trend direction to avoid false signals.
Nadaraya+ Bullish/BearishVí Dụ về Cảnh Báo:
Cảnh báo "Bullish Entry" sẽ kích hoạt khi điều kiện vào lệnh mua thỏa mãn (giá cắt qua dưới Lower NWE và có Bullish Reversal Bar).
Cảnh báo "Bearish Entry" sẽ kích hoạt khi điều kiện vào lệnh bán thỏa mãn (giá cắt qua trên Upper NWE và có Bearish Reversal Bar).
Cảnh báo "Bullish Reversal Bar" và "Bearish Reversal Bar" sẽ giúp bạn nhận tín hiệu đảo chiều ngay lập tức mà không cần phải vào lệnh.
Swing & Day Trading Strategy dddddThis TradingView Pine Script is designed for swing and day trading, incorporating multiple technical indicators and tools to enhance decision-making. It calculates and plots exponential moving averages (EMAs) for 5, 9, 21, 50, and 200 periods to identify trends and crossovers. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) provide momentum and overbought/oversold signals. The script dynamically identifies and marks support and resistance levels based on recent highs and lows, while also detecting and labeling key candlestick patterns such as bullish and bearish engulfing, doji, and hammer candles. Bullish and bearish signals are highlighted on the chart with green and red backgrounds, respectively, and alerts are generated to notify traders of these conditions. All visualizations, including EMAs, support/resistance lines, and candlestick labels, are overlaid directly on the stock chart for easy interpretation. This comprehensive approach assists traders in spotting potential trading opportunities effectively.
Simple Volume Profile with POC (Daily/4H Sessions) [Enhanced]Simple Volume Profile with a Point of Control (POC). The script does the following:
Accumulates volume in user-defined “bins” (price buckets) for a session.
Resets the volume accumulation each new “session”:
On a Daily chart, it considers weekly sessions (resets each Monday).
On a 4H chart, it considers daily sessions (resets at the start of each trading day).
Finds the Point of Control (the price bin with the highest accumulated volume).
Plots the histogram and the POC line on the chart.
Daily Volatility Percentageindicator Description:
Daily Volatility Percentage Indicator
This indicator displays the daily volatility percentage of each candle directly on your chart. It calculates the difference between the High and Low prices of each candle and converts it into a percentage relative to the Low price. This allows you to quickly and clearly see how volatile each candle is.
Why This Indicator Is Useful:
Analyze Daily Volatility:
Helps identify high or low volatility, which can signal trading opportunities or elevated risk levels in the market.
Quick Decision-Making:
Displays essential data directly on the chart, eliminating the need for external calculations or tools.
Track Asset Behavior:
Suitable for all asset classes (stocks, crypto, forex, etc.), providing a clear view of market fluctuations over time.
Customizable:
Allows you to adjust the label colors and placement according to your preferences for a more personalized experience.
Who Can Benefit:
Day Traders: To spot high-volatility situations ideal for short-term trades.
Trend Traders: To identify assets becoming more volatile, which might indicate trend reversals.
Long-Term Investors: To find periods of relative stability in market movements.
This indicator is an effective tool for anyone looking to understand market dynamics quickly and efficiently.
Smart Wick Concept (SWC)Smart Wick Concept (SWC)
The Smart Wick Concept (SWC) is a unique trend-following strategy designed to capture precise entry points in trending markets. This indicator identifies trade opportunities based on higher timeframe trends and wick behavior on lower timeframes, making it an effective tool for intraday and swing traders.
Key Features:
Trend Identification:
SWC uses the H1 timeframe to define the primary market trend (bullish or bearish), ensuring alignment with the overall market direction.
Precise Entry Signals:
Entry opportunities are generated on the M15 timeframe when a candle's wick interacts with the prior candle's range. This approach minimizes false signals and enhances accuracy.
Stop Loss and Take Profit Levels:
The indicator automatically calculates suggested stop loss and take profit levels based on market dynamics, providing traders with a clear risk-reward framework.
Customizable Parameters:
SWC allows traders to adjust key settings, such as the higher timeframe and minimum trend range, to align with their trading preferences and market conditions.
How It Works:
Bullish Entry:
Higher timeframe trend must be bullish.
A M15 candle must dip below the previous candle’s low and close back above it, signaling a potential buy opportunity.
Bearish Entry:
Higher timeframe trend must be bearish.
A M15 candle must exceed the previous candle’s high and close back below it, signaling a potential sell opportunity.
Risk Management:
Stop loss is placed at the low (for buys) or high (for sells) of the current M15 candle.
Take profit targets are calculated at twice the risk, ensuring a favorable risk-reward ratio.
Benefits:
Aligns trades with market momentum.
Reduces noise by filtering out weak or sideways trends.
Provides a structured approach to trading XAUUSD and other volatile instruments.
Use Cases:
The Smart Wick Concept is ideal for traders looking for a disciplined and data-driven approach to trading. While it is optimized for XAUUSD, it can also be applied to other trending markets such as major currency pairs or indices with some parameter adjustments.
Disclaimer:
This indicator is a trading tool and should not be used as a standalone strategy. Always backtest the indicator thoroughly and use proper risk management to protect your capital. Past performance does not guarantee future results.
SMC & CMP Indicator v1Fixed missing some SMN candles
The “SMC & CMP Indicator” is a powerful tool designed for traders who seek to capitalize on specific candlestick patterns indicative of potential market reversals or consolidations. This versatile indicator combines the detection of SMC (Significant Market Change) patterns and CMP (Compensation Point) candles into a single, user-friendly tool. It allows traders to independently monitor bullish, bearish, or both types of patterns simultaneously, depending on their trading strategies.
Features
• Dual Functionality: Seamlessly integrates two popular trading indicators – SMC and CMP – providing comprehensive market analysis.
• Customizable Settings: Users can choose to activate alerts for bullish, bearish, or both conditions for each type of pattern. This feature offers unmatched flexibility in tailoring the tool to various trading styles and market conditions.
• Visual Clarity: Uses distinct colors and markers to highlight the identified patterns directly on the trading chart, enhancing the visual experience and making it easier to spot potential trading opportunities.
• Adjustable Timeframes: Compatible with multiple timeframes, this indicator can be adjusted to work on minute-based intervals such as 15, 30, and 60 minutes, making it suitable for day traders and swing traders alike.
• Transparency and Precision: Each pattern type (SMC and CMP) is clearly defined within the script, ensuring that traders understand exactly what is being detected and displayed.
Use Case
The indicator is ideal for traders who:
• Monitor multiple patterns and require an efficient way to manage these observations without switching between different tools.
• Desire an in-depth analysis of market conditions to make informed decisions based on established candlestick patterns.
• Appreciate a clean and organized chart without the clutter of multiple indicators.
Technical Details
• SMC Detection: Identifies engulfing patterns where the current candle completely overlaps the range of the previous candle.
• CMP Detection: Looks for candles where the current candle’s high is lower and the low is higher than the previous one, indicating a pause or shift in market momentum.
• Color Coding: Bullish patterns are marked with a light blue color (#9cf5fb) at 20% transparency, while bearish patterns are highlighted in purple (#9a74e2) with similar transparency settings, aiding quick identification.
Edufx AMD~Accumulation, Manipulation, DistributionEdufx AMD Indicator
This indicator visualizes the market cycles using distinct phases: Accumulation, Manipulation, Distribution, and Reversal. It is designed to assist traders in identifying potential entry points and understanding price behavior during these phases.
Key Features:
1. Phases and Logic:
-Accumulation Phase: Highlights the price range where market accumulation occurs.
-Manipulation Phase:
- If the price sweeps below the accumulation low, it signals a potential "Buy Zone."
- If the price sweeps above the accumulation high, it signals a potential "Sell Zone."
-Distribution Phase: Highlights where price is expected to expand and establish trends.
-Reversal Phase: Marks areas where the price may either continue or reverse.
2. Weekly and Daily Cycles:
- Toggle the visibility of Weekly Cycles and Daily Cycles independently through the settings.
- These cycles are predefined with precise timings for each phase, based on your selected on UTC-5 timezone.
3. Customizable Appearance:
- Adjust the colors for each phase directly in the settings to suit your preferences.
- The indicator uses semi-transparent boxes to represent the phases, allowing easy visualization without obstructing the chart.
4. Static Boxes:
- Boxes representing the phases are drawn only once for the visible chart range and do not dynamically delete, ensuring important consistent reference points.
Machine Learning: Lorentzian Classification ThomasMachine Learning: Lorentzian Classification Thomas
BARTU V1 MACD-RSI//@version=6
indicator('MACD ve RSI', overlay = false)
// MACD hesaplama
= ta.macd(close, 12, 26, 9)
macdHist = macdLine - signalLine
// RSI hesaplama
rsiLength = 14
rsiValue = ta.rsi(close, rsiLength)
// MACD çizimleri
hline(0, 'Sıfır Çizgisi', color = color.gray)
plot(macdLine, color = color.blue, title = 'MACD Hattı')
plot(signalLine, color = color.red, title = 'Sinyal Hattı')
plot(macdHist, color = color.green, style = plot.style_histogram, title = 'MACD Histogramı')
// RSI çizimleri
rsiOverbought = 70
rsiOversold = 30
hline(rsiOverbought, 'Aşırı Alım', color = color.red)
hline(rsiOversold, 'Aşırı Satım', color = color.green)
plot(rsiValue, color = color.orange, title = 'RSI')
// Arka Plan Renkleri
bgcolor(rsiValue > rsiOverbought ? color.new(color.red, 90) : na)
bgcolor(rsiValue < rsiOversold ? color.new(color.green, 90) : na)
MACD,RSI,EM9,WMA45 (Scale -100 đến 100)include: MACD,RSI,EM9,WMA45.
All indicators are fixed from -100 to 100.
Omega_galskyThe strategy uses three Exponential Moving Averages (EMAs) — EMA8, EMA21, and EMA89 — to decide when to open buy or sell trades. It also includes a mechanism to move the Stop Loss (SL) to the Break-Even (BE) point, which is the entry price, once the price reaches a Risk-to-Reward (R2R) ratio of 1:1.
Key Steps:
Calculating EMAs: The script computes the EMA values for the specified periods. These help identify market trends and potential entry points.
Buy Conditions:
EMA8 crosses above EMA21.
The candle that causes the crossover is green (closing price is higher than the opening price).
The closing price is above EMA89.
If all conditions are met, a buy order is executed.
Sell Conditions:
EMA8 crosses below EMA21.
The candle that causes the crossover is red (closing price is lower than the opening price).
The closing price is below EMA89.
If all conditions are met, a sell order is executed.
Stop Loss and Take Profit:
Initial Stop Loss and Take Profit levels are calculated based on the entry price and a percentage defined by the user.
These levels help protect against large losses and lock in profits.
Break-Even Logic:
When the price moves favorably to reach a 1:1 R2R ratio:
For a buy trade, the Stop Loss is moved to the entry price if the price increases sufficiently.
For a sell trade, the Stop Loss is moved to the entry price if the price decreases sufficiently.
This ensures the trade is risk-free after the price reaches the predefined level.
Visual Representation:
The EMAs are plotted on the chart for easy visualization of trends and crossovers.
Entry and exit points are also marked on the chart to track trades.
Purpose:
The strategy is designed to capitalize on EMA crossovers while minimizing risks using Break-Even logic and predefined Stop Loss/Take Profit levels. It automates decision-making for trend-following traders and ensures disciplined risk management.
Wickiness IndexWickiness Index - Detect Indecision and Trend Exhaustion
The Wickiness Index is a versatile technical indicator designed to measure the proportion of wicks (upper and lower shadows) relative to the total range of price bars over a specified lookback period. It provides insights into market indecision, reversals, and trend exhaustion by analyzing the structural composition of candlesticks. The indicator calculates the lengths of upper and lower wicks along with the body of each candlestick. Each bar's wick length is expressed as a percentage of the total range (High - Low). The ratio is scaled to 0–100, where 100 represents entirely wicks with no body (indicating pure indecision) and 0 represents no wicks with only body (indicating strong directional movement). These values are then averaged over the lookback period (default = 5 bars) to provide a smoothed representation of wickiness, reducing noise and highlighting trends.
A high value, especially above 70, suggests indecision or potential reversals, as candlesticks dominated by wicks often appear near tops or bottoms. Conversely, low values below 30 indicate trend strength and strong momentum, useful for spotting breakouts and trend continuation. Mid-range values between 30 and 70 often indicate consolidation phases or gradual transitions between trends. Traders can adjust the lookback period to match their trading style, with shorter periods offering faster responses and longer periods providing smoother trends.
This indicator is particularly useful for trend reversal detection, breakout confirmation, and volatility filtering. It scales effectively across all timeframes, making it suitable for both intraday traders and long-term investors. When combined with volume analysis or trend-following indicators, the Wickiness Index can further strengthen trade signals. The visual design includes a blue line for the index and horizontal reference lines at 30 and 70, allowing for quick and intuitive interpretation.
The Wickiness Index offers a unique perspective on market sentiment and price action behavior, providing traders with valuable insights into potential turning points, momentum shifts, and market indecision. It is a powerful tool for improving decision-making in volatile markets and identifying areas where price trends may weaken or reverse.
