Falcon Liquidity Grab StrategyHow to Use This Script for Commodities and Indices
Best Timeframes: Start with 15-minute charts but test on higher timeframes like 1 hour for indices.
Risk Settings: Adjust the stop_loss_points and take_profit_multiplier to match the volatility of the chosen instrument.
Motifs graphiques
SCE Price Action SuiteThis is an indicator designed to use past market data to mark key price action levels as well as provide a different kind of insight. There are 8 different features in the script that users can turn on and off. This description will go in depth on all 8 with chart examples.
#1 Absorption Zones
I defined Absorption Zones as follows.
//----------------------------------------------
//---------------Absorption---------------------
//----------------------------------------------
box absorptionBox = na
absorptionBar = ta.highest(bodySize, absorptionLkb)
bsab = ta.barssince(bool(ta.change(absorptionBar)))
if bsab == 0 and upBar and showAbsorption
absorptionBox := box.new(left = bar_index - 1, top = close, right = bar_index + az_strcuture, bottom = open, border_color = color.rgb(0, 80, 75), border_width = boxLineSize, bgcolor = color.rgb(0, 80, 75))
absorptionBox
else if bsab == 0 and downBar and showAbsorption
absorptionBox := box.new(left = bar_index - 1, top = close, right = bar_index + az_strcuture, bottom = open, border_color = color.rgb(105, 15, 15), border_width = boxLineSize, bgcolor = color.rgb(105, 15, 15))
absorptionBox
What this means is that absorption bars are defined as the bars with the largest bodies over a selected lookback period. Those large bodies represent areas where price may react. I was inspired by the concept of a Fair Value Gap for this concept. In that body price may enter to be a point of support or resistance, market participants get “absorbed” in the area so price can continue in whichever direction.
#2 Candle Wick Theory/Strategy
I defined Candle Wick Theory/Strategy as follows.
//----------------------------------------------
//---------------Candle Wick--------------------
//----------------------------------------------
highWick = upBar ? high - close : downBar ? high - open : na
lowWick = upBar ? open - low : downBar ? close - low : na
upWick = upBar ? close + highWick : downBar ? open + highWick : na
downWick = upBar ? open - lowWick : downBar ? close - lowWick : na
downDelivery = upBar and downBar and high > upWick and highWick > lowWick and totalSize > totalSize and barstate.isconfirmed and session.ismarket
upDelivery = downBar and upBar and low < downWick and highWick < lowWick and totalSize > totalSize and barstate.isconfirmed and session.ismarket
line lG = na
line lE = na
line lR = na
bodyMidpoint = math.abs(body) / 2
upWickMidpoint = math.abs(upWickSize) / 2
downWickkMidpoint = math.abs(downWickSize) / 2
if upDelivery and showCdTheory
cpE = chart.point.new(time, bar_index - 1, downWickkMidpoint)
cpE2 = chart.point.new(time, bar_index + bl, downWickkMidpoint)
cpG = chart.point.new(time, bar_index + bl, downWickkMidpoint * (1 + tp))
cpR = chart.point.new(time, bar_index + bl, downWickkMidpoint * (1 - sl))
cpG1 = chart.point.new(time, bar_index - 1, downWickkMidpoint * (1 + tp))
cpR1 = chart.point.new(time, bar_index - 1, downWickkMidpoint * (1 - sl))
lG := line.new(cpG1, cpG, xloc.bar_index, extend.none, color.green, line.style_solid, 1)
lE := line.new(cpE, cpE2, xloc.bar_index, extend.none, color.white, line.style_solid, 1)
lR := line.new(cpR1, cpR, xloc.bar_index, extend.none, color.red, line.style_solid, 1)
lR
else if downDelivery and showCdTheory
cpE = chart.point.new(time, bar_index - 1, upWickMidpoint)
cpE2 = chart.point.new(time, bar_index + bl, upWickMidpoint)
cpG = chart.point.new(time, bar_index + bl, upWickMidpoint * (1 - tp))
cpR = chart.point.new(time, bar_index + bl, upWickMidpoint * (1 + sl))
cpG1 = chart.point.new(time, bar_index - 1, upWickMidpoint * (1 - tp))
cpR1 = chart.point.new(time, bar_index - 1, upWickMidpoint * (1 + sl))
lG := line.new(cpG1, cpG, xloc.bar_index, extend.none, color.green, line.style_solid, 1)
lE := line.new(cpE, cpE2, xloc.bar_index, extend.none, color.white, line.style_solid, 1)
lR := line.new(cpR1, cpR, xloc.bar_index, extend.none, color.red, line.style_solid, 1)
lR
First I get the size of the wicks for the top and bottoms of the candles. This depends on if the bar is red or green. If the bar is green the wick is the high minus the close, if red the high minus the open, and so on. Next, the script defines the upper and lower bounds of the wicks for further comparison. If the candle is green, it's the open price minus the bottom wick. If the candle is red, it's the close price minus the bottom wick, and so on. Next we have the condition for when this strategy is present.
Down delivery:
Occurs when the previous candle is green, the current candle is red, and:
The high of the current candle is above the upper wick of the previous candle.
The size of the current candle's top wick is greater than its bottom wick.
The total size of the previous candle is greater than the total size of the current candle.
The current bar is confirmed (barstate.isconfirmed).
The session is during market hours (session.ismarket).
Up delivery:
Occurs when the previous candle is red, the current candle is green, and:
The low of the current candle is below the lower wick of the previous candle.
The size of the current candle's bottom wick is greater than its top wick.
The total size of the previous candle is greater than the total size of the current candle.
The current bar is confirmed.
The session is during market hours
Then risk is plotted from the percentage that users can input from an ideal entry spot.
#3 Candle Size Theory
I defined Candle Size Theory as follows.
//----------------------------------------------
//---------------Candle displacement------------
//----------------------------------------------
line lECD = na
notableDown = bodySize > bodySize * candle_size_sensitivity and downBar and session.ismarket and barstate.isconfirmed
notableUp = bodySize > bodySize * candle_size_sensitivity and upBar and session.ismarket and barstate.isconfirmed
if notableUp and showCdSizeTheory
cpE = chart.point.new(time, bar_index - 1, close)
cpE2 = chart.point.new(time, bar_index + bl_strcuture, close)
lECD := line.new(cpE, cpE2, xloc.bar_index, extend.none, color.rgb(0, 80, 75), line.style_solid, 3)
lECD
else if notableDown and showCdSizeTheory
cpE = chart.point.new(time, bar_index - 1, close)
cpE2 = chart.point.new(time, bar_index + bl_strcuture, close)
lECD := line.new(cpE, cpE2, xloc.bar_index, extend.none, color.rgb(105, 15, 15), line.style_solid, 3)
lECD
This plots candles that are “notable” or out of the ordinary. Candles that are larger than the last by a value users get to specify. These candles' highs or lows, if they are green or red, act as levels for support or resistance.
#4 Candle Structure Theory
I defined Candle Structure Theory as follows.
//----------------------------------------------
//---------------Structure----------------------
//----------------------------------------------
breakDownStructure = low < low and low < low and high > high and upBar and downBar and upBar and downBar and session.ismarket and barstate.isconfirmed
breakUpStructure = low > low and low > low and high < high and downBar and upBar and downBar and upBar and session.ismarket and barstate.isconfirmed
if breakUpStructure and showStructureTheory
cpE = chart.point.new(time, bar_index - 1, close)
cpE2 = chart.point.new(time, bar_index + bl_strcuture, close)
lE := line.new(cpE, cpE2, xloc.bar_index, extend.none, color.teal, line.style_solid, 3)
lE
else if breakDownStructure and showStructureTheory
cpE = chart.point.new(time, bar_index - 1, open)
cpE2 = chart.point.new(time, bar_index + bl_strcuture, open)
lE := line.new(cpE, cpE2, xloc.bar_index, extend.none, color.red, line.style_solid, 3)
lE
It is a series of candles to create a notable event. 2 lower lows in a row, a lower high, then green bar, red bar, green bar is a structure for a breakdown. 2 higher lows in a row, a higher high, red bar, green bar, red bar for a break up.
#5 Candle Swing Structure Theory
I defined Candle Swing Structure Theory as follows.
//----------------------------------------------
//---------------Swing Structure----------------
//----------------------------------------------
line htb = na
line ltb = na
if totalSize * swing_struct_sense < totalSize and upBar and downBar and high > high and showSwingSturcture and session.ismarket and barstate.isconfirmed
cpS = chart.point.new(time, bar_index - 1, high)
cpE = chart.point.new(time, bar_index + bl_strcuture, high)
htb := line.new(cpS, cpE, xloc.bar_index, color = color.red, style = line.style_dashed)
htb
else if totalSize * swing_struct_sense < totalSize and downBar and upBar and low > low and showSwingSturcture and session.ismarket and barstate.isconfirmed
cpS = chart.point.new(time, bar_index - 1, low)
cpE = chart.point.new(time, bar_index + bl_strcuture, low)
ltb := line.new(cpS, cpE, xloc.bar_index, color = color.teal, style = line.style_dashed)
ltb
A bearish swing structure is defined as the last candle’s total size, times a scalar that the user can input, is less than the current candles. Like a size imbalance. The last bar must be green and this one red. The last high should also be less than this high. For a bullish swing structure the same size imbalance must be present, but we need a red bar then a green bar, and the last low higher than the current low.
#6 Fractal Boxes
I define the Fractal Boxes as follows
//----------------------------------------------
//---------------Fractal Boxes------------------
//----------------------------------------------
box b = na
int indexx = na
if bar_index % (n * 2) == 0 and session.ismarket and showBoxes
b := box.new(left = bar_index, top = topBox, right = bar_index + n, bottom = bottomBox, border_color = color.rgb(105, 15, 15), border_width = boxLineSize, bgcolor = na)
indexx := bar_index + 1
indexx
The idea of this strategy is that the market is fractal. It is considered impossible to be able to tell apart two different time frames from just the chart. So inside the chart there are many many breakouts and breakdowns happening as price bounces around. The boxes are there to give you the view from your timeframe if the market is in a range from a time frame that would be higher than it. Like if we are inside what a larger time frame candle’s range. If we break out or down from this, we might be able to trade it. Users can specify a lookback period and the box is that period’s, as an interval, high and low. I say as an interval because it is plotted every n * 2 bars. So we get a box, price moves, then a new box.
#7 Potential Move Width
I define the Potential Move Width as follows
//----------------------------------------------
//---------------Move width---------------------
//----------------------------------------------
velocity = V(n)
line lC = na
line l = na
line l2 = na
line l3 = na
line l4 = na
line l5 = na
line l6 = na
line l7 = na
line l8 = na
line lGFractal = na
line lRFractal = na
cp2 = chart.point.new(time, bar_index + n, close + velocity)
cp3 = chart.point.new(time, bar_index + n, close - velocity)
cp4 = chart.point.new(time, bar_index + n, close + velocity * 5)
cp5 = chart.point.new(time, bar_index + n, close - velocity * 5)
cp6 = chart.point.new(time, bar_index + n, close + velocity * 10)
cp7 = chart.point.new(time, bar_index + n, close - velocity * 10)
cp8 = chart.point.new(time, bar_index + n, close + velocity * 15)
cp9 = chart.point.new(time, bar_index + n, close - velocity * 15)
cpG = chart.point.new(time, bar_index + n, close + R)
cpR = chart.point.new(time, bar_index + n, close - R)
if ((bar_index + n) * 2 - bar_index) % n == 0 and session.ismarket and barstate.isconfirmed and showPredictionWidtn
cp = chart.point.new(time, bar_index, close)
cpG1 = chart.point.new(time, bar_index, close + R)
cpR1 = chart.point.new(time, bar_index, close - R)
l := line.new(cp, cp2, xloc.bar_index, extend.none, color.aqua, line.style_solid, 1)
l2 := line.new(cp, cp3, xloc.bar_index, extend.none, color.aqua, line.style_solid, 1)
l3 := line.new(cp, cp4, xloc.bar_index, extend.none, color.red, line.style_solid, 1)
l4 := line.new(cp, cp5, xloc.bar_index, extend.none, color.red, line.style_solid, 1)
l5 := line.new(cp, cp6, xloc.bar_index, extend.none, color.teal, line.style_solid, 1)
l6 := line.new(cp, cp7, xloc.bar_index, extend.none, color.teal, line.style_solid, 1)
l7 := line.new(cp, cp8, xloc.bar_index, extend.none, color.blue, line.style_solid, 1)
l8 := line.new(cp, cp9, xloc.bar_index, extend.none, color.blue, line.style_solid, 1)
l8
By using the past n bar’s velocity, or directional speed, every n * 2 bars. I can use it to scale the close value and get an estimate for how wide the next moves might be.
#8 Linear regression
//----------------------------------------------
//---------------Linear Regression--------------
//----------------------------------------------
lr = showLR ? ta.linreg(close, n, 0) : na
plot(lr, 'Linear Regression', color.blue)
I used TradingView’s built in linear regression to not reinvent the wheel. This is present to see past market strength of weakness from a different perspective.
User input
Users can control a lot about this script. For the strategy based plots you can enter what you want the risk to be in percentages. So the default 0.01 is 1%. You can also control how far forward the line goes.
Look back at where it is needed as well as line width for the Fractal Boxes are controllable. Also users can check on and off what they would like to see on the charts.
No indicator is 100% reliable, do not follow this one blindly. I encourage traders to make their own decisions and not trade solely based on technical indicators. I encourage constructive criticism in the comments below. Thank you.
VIX vs VIX3M crossingDetects crossings between VIX and VIX3M.
VIX3M crossing below the VIX-line could be an indicator of rising panic in the market.
VIX vs VIX3M - TradingHoursAlertsDetects VIX vs VIX3M crossovers.
Crossovers that might happen outside rth will only be flagged if they persist into the next trading session.
CCI Buy Signal//@version=5
indicator("CCI Buy Signal", overlay=true)
// Inputs for CCI
length = input.int(14, title="CCI Length")
src = input.source(close, title="Source")
// Calculate CCI
cci = ta.cci(src, length)
prev_cci = ta.valuewhen(bar_index > 0, cci , 0)
// Buy condition
buySignal = (cci < -100) and (cci > prev_cci)
// Plot CCI
plot(cci, color=color.blue, title="CCI")
hline(100, color=color.red, linestyle=hline.style_dotted, title="Upper Threshold")
hline(0, color=color.gray, linestyle=hline.style_dotted, title="Zero Line")
hline(-100, color=color.red, linestyle=hline.style_dotted, title="Lower Threshold")
// Plot Buy Signal as Arrow
plotshape(buySignal, style=shape.triangleup, location=location.belowbar, color=color.green, size=size.small, title="Buy Signal Arrow")
Market Structure CHoCH/BOS (Fractal) [vandji]Explication de la stratégie Market Structure CHoCH/BOS (Fractal)
Introduction
La stratégie Market Structure CHoCH/BOS (Fractal) est conçue pour analyser les structures de marché en identifiant les changements de caractère (Change of Character - CHoCH) et les cassures de structure (Break of Structure - BOS) basées sur des fractales. Cette approche permet aux traders de repérer les renversements de tendance ainsi que la continuation de celle-ci à l'aide d'un outil visuel intuitif et de niveaux clés marqués directement sur le graphique.
Fonctionnement de l'indicateur
L'indicateur utilise des fractales pour identifier des points hauts et bas significatifs dans le marché. Ces points permettent de :
Identifier les structures haussières (Bullish) :
Une cassure d'un sommet fractal indique une continuation ou un renversement haussier.
Des niveaux de support sont tracés pour repérer les zones où le prix peut rebondir.
Identifier les structures baissières (Bearish) :
Une cassure d'un bas fractal signale une continuation ou un renversement baissier.
Des niveaux de résistance sont tracés pour surveiller les zones où le prix peut se retourner.
L'indicateur utilise également des labels visuels tels que CHoCH et BOS :
CHoCH (Change of Character) : Indique un changement de tendance.
BOS (Break of Structure) : Confirme la continuation de la tendance.
Visualisation des Niveaux Clés
Support : Tracé lorsque la structure haussière est identifiée.
Résistance : Tracée lorsque la structure baissière est détectée. Ces niveaux servent de repères pour placer des ordres ou évaluer la force de la tendance.
Avantages
Identification claire des tendances : Les CHoCH et BOS aident à distinguer les renversements des continuations.
Zones clés définies : Les supports et résistances fractals donnent des points d'entrée ou de sortie potentiels.
Convient aux styles variés de trading : Applicable pour le scalping, le day trading ou le swing trading.
Exemple Visuel
Graphique annoté
L'image suivante illustre le fonctionnement de l'indicateur sur un graphique.
Les sommets fractals haussiers et baissiers sont marqués.
Les niveaux de support et de résistance sont dessinés.
Les labels CHoCH et BOS indiquent des points importants de renversement ou de continuation.
Horizontal Lines for $100, $26, $50, and $74This indicator will allow you to set up for the golden setup without having to draw the lines your self
Rabbit Moves (Trend Base)The Rabbit Moves (Trend-Based) indicator is a reliable and user-friendly tool designed to help traders identify potential trend reversals in the market. It works by highlighting key moments in price action that signal a shift in momentum, enabling traders to make informed decisions with confidence.
How It Works
Bullish Reversal Signal:
This signal appears during a downtrend and indicates a potential upward shift in price momentum. It highlights areas where buying pressure is starting to dominate, offering traders the opportunity to anticipate bullish market movements.
The indicator marks these signals with a "Buy" label below the candlestick to make them easily identifiable.
Bearish Reversal Signal:
This signal appears during an uptrend and indicates a potential downward shift in price momentum. It highlights areas where selling pressure is beginning to take control, signaling traders to prepare for bearish market movements.
The indicator marks these signals with a "Sell" label above the candlestick for clear visibility.
Alerts for Convenience:
The indicator includes built-in alerts that notify traders in real-time whenever a bullish or bearish reversal signal is detected. This ensures that traders stay updated on important market movements without constantly monitoring the charts.
Benefits of Using Rabbit Moves
Streamlines Trading Decisions:
Simplifies the process of identifying potential market reversals, saving time and effort for traders.
Enhances Trading Confidence:
Offers clear and actionable signals, helping traders act decisively in dynamic market conditions.
Customizable Features:
Includes adjustable settings to cater to different trading strategies and preferences.
Versatile Application:
Suitable for trading in various markets, including forex, stocks, and cryptocurrencies, where candlestick charts are used.
Real-Time Updates:
Provides immediate alerts, ensuring traders can react quickly to market changes.
Why This Indicator Is Unique
Rabbit Moves (Trend-Based) is specifically designed to focus on key price action signals that reflect shifts in market momentum. By combining pattern recognition with trend analysis, it delivers meaningful insights that traders can rely on.
Disclaimer:
This indicator is for educational and informational purposes only and is not intended as financial advice. Past performance is not indicative of future results. Always apply appropriate risk management in your trading.
With Rabbit Moves (Trend-Based), traders gain a practical and efficient tool to navigate market trends and capitalize on high-probability opportunities.
Engulfing Candle Finder 👁️ User Guide: Engulfing Candle Finder 👁️
The "Engulfing Candle Finder 👁️" indicator is designed to help traders identify both Bullish and Bearish Engulfing candlestick patterns on their charts. This indicator assists in recognizing potential market reversal trends.
How to Use the Indicator
1. Installing the Indicator
o Open the Trading View platform.
o Go to the Chart page.
o Click on the "Indicators" button in the top menu.
o Select "Pine Script Editor".
o Copy and paste the provided Pine Script code into the Pine Script Editor window.
o Click the "Add to Chart" button to add the indicator to your chart.
2. Indicator Functionality
o Bullish Engulfing Detection:
Conditions:
The previous candle must be bearish.
The current candle must be bullish.
The close of the current candle must be higher than the open of the previous candle.
The open of the current candle must be lower than the close of the previous candle.
Indicator Response: When a Bullish Engulfing pattern is detected, the indicator will draw a green circle below the corresponding candle with the text "BUN" in white.
o Bearish Engulfing Detection:
Conditions:
The previous candle must be bullish.
The current candle must be bearish.
The close of the current candle must be lower than the open of the previous candle.
The open of the current candle must be higher than the close of the previous candle.
Indicator Response: When a Bearish Engulfing pattern is detected, the indicator will draw a red circle above the corresponding candle with the text "BEN" in white.
3. Using the Indicator for Trading
o Use the indicator to identify potential market reversal trends:
When a Bullish Engulfing pattern is detected, it may be a signal to consider entering a long position (buy).
When a Bearish Engulfing pattern is detected, it may be a signal to consider entering a short position (sell).
The "Engulfing Candle Finder 👁️" indicator helps you to easily and quickly identify Engulfing candlestick patterns on your chart, supporting your decision-making in trading and enhancing your technical analysis.
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คู่มือการใช้งาน Indicator: Engulfing Candle Finder 👁️
อินดิเคเตอร์ "Engulfing Candle Finder 👁️" ถูกออกแบบมาเพื่อช่วยให้ผู้ซื้อขายระบุรูปแบบแท่งเทียน Engulfing ทั้งขาขึ้น (Bullish) และขาลง (Bearish) บนกราฟแท่งเทียน อินดิเคเตอร์นี้จะช่วยให้คุณทราบถึงแนวโน้มการกลับตัวของตลาดที่อาจเกิดขึ้นได้
ขั้นตอนการใช้งานอินดิเคเตอร์
1. การติดตั้งอินดิเคเตอร์
o เปิดแพลตฟอร์ม Trading View
o ไปที่หน้าแผนภูมิ (Chart)
o คลิกที่ปุ่ม "Indicators" (ตัวชี้วัด) ที่เมนูด้านบน
o เลือก "Pine Script Editor" (ตัวแก้ไขสคริปต์ Pine)
o คัดลอกและวางโค้ด Pine Script ที่ให้มาในหน้าต่าง Pine Script Editor
o คลิกที่ปุ่ม "Add to Chart" (เพิ่มลงในกราฟ) เพื่อเพิ่มอินดิเคเตอร์ลงในกราฟของคุณ
2. การทำงานของอินดิเคเตอร์
o การตรวจจับ Bullish Engulfing:
เงื่อนไข:
แท่งเทียนก่อนหน้าต้องเป็นแท่งแดง (ราคาปิด < ราคาเปิด)
แท่งเทียนปัจจุบันต้องเป็นแท่งเขียว (ราคาปิด > ราคาเปิด)
ราคาปิดของแท่งเทียนปัจจุบันต้องสูงกว่าราคาเปิดของแท่งเทียนก่อนหน้า
ราคาเปิดของแท่งเทียนปัจจุบันต้องต่ำกว่าราคาปิดของแท่งเทียนก่อนหน้า
การตอบสนองของอินดิเคเตอร์: เมื่อพบรูปแบบ Bullish Engulfing อินดิเคเตอร์จะวาดวงกลมสีเขียวใต้แท่งเทียนที่ตรวจพบ พร้อมตัวหนังสือ "BUN" สีขาว
o การตรวจจับ Bearish Engulfing:
เงื่อนไข:
แท่งเทียนก่อนหน้าต้องเป็นแท่งเขียว (ราคาปิด > ราคาเปิด)
แท่งเทียนปัจจุบันต้องเป็นแท่งแดง (ราคาปิด < ราคาเปิด)
ราคาปิดของแท่งเทียนปัจจุบันต้องต่ำกว่าราคาเปิดของแท่งเทียนก่อนหน้า
ราคาเปิดของแท่งเทียนปัจจุบันต้องสูงกว่าราคาปิดของแท่งเทียนก่อนหน้า
การตอบสนองของอินดิเคเตอร์: เมื่อพบรูปแบบ Bearish Engulfing อินดิเคเตอร์จะวาดวงกลมสีแดงเหนือแท่งเทียนที่ตรวจพบ พร้อมตัวหนังสือ "BEN" สีขาว
3. การใช้อินดิเคเตอร์ในการซื้อขาย
o ใช้อินดิเคเตอร์เพื่อตรวจสอบแนวโน้มการกลับตัวของตลาดที่อาจเกิดขึ้น:
เมื่อพบรูปแบบ Bullish Engulfing อาจเป็นสัญญาณในการพิจารณาเข้าสู่ตำแหน่ง BUY (ซื้อ)
เมื่อพบรูปแบบ Bearish Engulfing อาจเป็นสัญญาณในการพิจารณาเข้าสู่ตำแหน่ง SELL (ขาย)
Engulfing Candle by SmanovThis custom Pine Script indicator highlights bullish and bearish engulfing candles while ensuring the previous candle is not an inside bar (relative to the candle before it). Engulfing candles are often seen as potential reversal signals. By including an extra filter that excludes so-called “inside bars,” the indicator aims to provide stronger and more reliable signals.
How It Works
Bullish Engulfing Condition
The current candle is bullish (close > open).
The current candle’s low is lower than the previous candle’s low, and the current candle’s high is higher than the previous candle’s high (true “engulfing” from top to bottom).
The current candle closes above the previous candle’s high (confirms a breakout above the previous high).
Bearish Engulfing Condition
The current candle is bearish (close < open).
The current candle’s high is higher than the previous candle’s high, and the current candle’s low is lower than the previous candle’s low.
The current candle closes below the previous candle’s low (confirms a breakdown below the previous low).
Non-Inside-Previous-Bar Filter
The indicator checks the previous candle to ensure it is not an inside bar (where the entire high-low range of the previous candle sits inside the range of the candle before it).
By doing so, the indicator ignores signals where the previous candle is potentially indecisive or “inside.”
When these conditions are met, the indicator plots a triangle above (for bearish) or below (for bullish) the candle. You can also enable alerts to receive notifications each time a valid engulfing candle forms.
Features
Clear Markers on the Chart: Triangles appear near the bars that fulfill the engulfing criteria, simplifying quick identification of potential reversal points.
Non-Inside Bar Filtering: Reduces false signals by ensuring the previous candle range is not contained within the range of the candle before it.
Alert Conditions: Create TradingView alerts to be notified via push messages, email, or pop-ups whenever a bullish or bearish engulfing setup occurs.
Easy Customization: You can tweak the logic for stricter or looser engulfing definitions or add your own additional filters (volume, RSI, etc.) if needed.
How to Trade with It
Reversal Opportunities
Bullish Engulfing: Signals a potential bullish reversal. Traders might look to go long if other supporting factors (support level, bullish divergence, etc.) confirm the trend change.
Bearish Engulfing: Signals a potential bearish reversal. Traders might go short if there is additional confluence (resistance level, overbought conditions, etc.).
Combine with Other Indicators
While an engulfing candle by itself can be meaningful, adding a momentum oscillator (e.g., RSI, MACD) or volume analysis often strengthens confirmation.
Look for bullish engulfing signals near known support levels, or bearish engulfing signals near known resistance levels.
Risk Management
Place stop-loss orders below (for bullish entries) or above (for bearish entries) the engulfing candle to reduce risk.
Use your usual position sizing and money management rules.
Avoid Choppy Markets
Because this indicator focuses on engulfing patterns that break the previous candle’s high or low, it can reduce whipsaws in sideways markets. Still, confirm that the market isn’t in an extended range before acting.
Disclaimer:
This indicator is a technical tool designed to assist traders in identifying potential reversal points. It is not a standalone trading system. Always practice proper risk management, and confirm signals with additional analysis before entering any trade.
Engulfing Candle Finder***คำอธิบายของอินดิเคเตอร์ ภาษาไทยอยู่ด้านล่างครับ***
🤩🤩🤩 Engulfing Candle Indicator (ENG)
The Engulfing Candle indicator is a powerful tool used in technical analysis to identify potential reversal patterns in the market. It consists of two candlesticks and can be either a bullish or bearish pattern, depending on the market direction.
Bullish Engulfing Pattern
Definition: A Bullish Engulfing pattern forms at the end of a downtrend and signifies a potential reversal to an uptrend.
Components: This pattern consists of two candles:
The first candle is a small bearish (black or red) candlestick.
The second candle is a larger bullish (white or green) candlestick that completely "engulfs" the body of the first candle.
Significance: The appearance of this pattern suggests that buyers have taken control from sellers, indicating a possible shift from a bearish to a bullish trend.
Bearish Engulfing Pattern
Definition: A Bearish Engulfing pattern forms at the end of an uptrend and signifies a potential reversal to a downtrend.
Components: This pattern also consists of two candles:
The first candle is a small bullish (white or green) candlestick.
The second candle is a larger bearish (black or red) candlestick that completely "engulfs" the body of the first candle.
Significance: The appearance of this pattern suggests that sellers have taken control from buyers, indicating a possible shift from a bullish to a bearish trend.
How to Use the Engulfing Candle Indicator
Identify Trend: Look for the existing trend in the market. The Engulfing pattern is more significant when it appears after a prolonged trend (either uptrend or downtrend).
Pattern Recognition: Spot the Engulfing pattern on the candlestick chart. Ensure that the second candle fully engulfs the body of the first candle.
Confirm Reversal: Wait for confirmation of the reversal. This could be in the form of another candlestick pattern, a significant price movement, or additional technical indicators.
Enter Trade: Once confirmed, consider entering a trade in the direction of the new trend. For a Bullish Engulfing pattern, consider going long (buy). For a Bearish Engulfing pattern, consider going short (sell).
Example of Engulfing Candle Indicator in Action
Imagine a stock that has been in a downtrend, and then a Bullish Engulfing pattern forms on the chart. The first candle is a small bearish candlestick, followed by a larger bullish candlestick that engulfs the body of the first candle. This pattern indicates that the buyers have overtaken the sellers and suggests a potential upward reversal. Traders might consider this a signal to enter a long position.
Similarly, in an uptrend, if a Bearish Engulfing pattern forms, it signals that sellers have taken control, suggesting a potential downward reversal. Traders might consider this a signal to enter a short position.
The Engulfing Candle indicator is a simple yet effective tool that can provide valuable insights into market sentiment and potential price reversals. By understanding and utilizing this pattern, traders can make more informed decisions and enhance their trading strategies.
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อินดิเคเตอร์ Engulfing Candle
อินดิเคเตอร์ Engulfing Candle เป็นเครื่องมือที่มีประสิทธิภาพที่ใช้ในการวิเคราะห์ทางเทคนิคเพื่อระบุแนวโน้มการกลับตัวของตลาด มันประกอบด้วยแท่งเทียนสองแท่งและสามารถเป็นรูปแบบ Bullish (ขาขึ้น) หรือ Bearish (ขาลง) ขึ้นอยู่กับทิศทางของตลาด
รูปแบบ Bullish Engulfing
นิยาม: รูปแบบ Bullish Engulfing จะเกิดขึ้นเมื่อสิ้นสุดแนวโน้มขาลงและบ่งชี้ถึงการกลับตัวไปเป็นขาขึ้น
องค์ประกอบ: รูปแบบนี้ประกอบด้วยแท่งเทียนสองแท่ง:
แท่งเทียนแรกเป็นแท่งเทียนขาลงขนาดเล็ก (สีดำหรือสีแดง)
แท่งเทียนที่สองเป็นแท่งเทียนขาขึ้นขนาดใหญ่ (สีขาวหรือสีเขียว) ที่ครอบคลุมตัวแท่งเทียนแรกทั้งหมด
ความสำคัญ: การปรากฏของรูปแบบนี้แสดงถึงการเข้าครอบครองของผู้ซื้อจากผู้ขาย ซึ่งบ่งชี้ถึงการเปลี่ยนแนวโน้มจากขาลงเป็นขาขึ้น
รูปแบบ Bearish Engulfing
นิยาม: รูปแบบ Bearish Engulfing จะเกิดขึ้นเมื่อสิ้นสุดแนวโน้มขาขึ้นและบ่งชี้ถึงการกลับตัวไปเป็นขาลง
องค์ประกอบ: รูปแบบนี้ประกอบด้วยแท่งเทียนสองแท่ง:
แท่งเทียนแรกเป็นแท่งเทียนขาขึ้นขนาดเล็ก (สีขาวหรือสีเขียว)
แท่งเทียนที่สองเป็นแท่งเทียนขาลงขนาดใหญ่ (สีดำหรือสีแดง) ที่ครอบคลุมตัวแท่งเทียนแรกทั้งหมด
ความสำคัญ: การปรากฏของรูปแบบนี้แสดงถึงการเข้าครอบครองของผู้ขายจากผู้ซื้อ ซึ่งบ่งชี้ถึงการเปลี่ยนแนวโน้มจากขาขึ้นเป็นขาลง
วิธีการใช้ Engulfing Candle Indicator
ระบุแนวโน้ม: มองหาแนวโน้มปัจจุบันในตลาด รูปแบบ Engulfing จะมีความสำคัญมากขึ้นเมื่อปรากฏหลังจากแนวโน้มระยะยาว (ขาขึ้นหรือขาลง)
การรู้จำรูปแบบ: สังเกตรูปแบบ Engulfing บนกราฟแท่งเทียน ตรวจสอบว่าแท่งเทียนที่สองครอบคลุมตัวแท่งเทียนแรกทั้งหมด
ยืนยันการกลับตัว: รอการยืนยันการกลับตัว อาจเป็นรูปแบบแท่งเทียนเพิ่มเติม การเคลื่อนไหวของราคาที่สำคัญ หรืออินดิเคเตอร์ทางเทคนิคเพิ่มเติม
เข้าสู่การซื้อขาย: เมื่อยืนยันแล้ว ให้พิจารณาเข้าสู่การซื้อขายในทิศทางของแนวโน้มใหม่ สำหรับรูปแบบ Bullish Engulfing ให้พิจารณาการซื้อ (long) สำหรับรูปแบบ Bearish Engulfing ให้พิจารณาการขาย (short)
ตัวอย่างการใช้ Engulfing Candle Indicator
สมมติว่าหุ้นที่มีแนวโน้มขาลง แล้วรูปแบบ Bullish Engulfing ปรากฏขึ้นบนกราฟ แท่งเทียนแรกเป็นแท่งเทียนขาลงขนาดเล็ก ตามด้วยแท่งเทียนขาขึ้นขนาดใหญ่ที่ครอบคลุมตัวแท่งเทียนแรกทั้งหมด รูปแบบนี้บ่งชี้ว่าผู้ซื้อเข้าครอบครองจากผู้ขายและบ่งชี้ถึงการกลับตัวขึ้น ผู้ซื้อขายอาจพิจารณานี่เป็นสัญญาณในการเข้าสู่ตำแหน่งยาว
ในทำนองเดียวกัน ในแนวโน้มขาขึ้น หากรูปแบบ Bearish Engulfing ปรากฏ มันบ่งชี้ว่าผู้ขายเข้าครอบครอง บ่งชี้ถึงการกลับตัวลง ผู้ซื้อขายอาจพิจารณานี่เป็นสัญญาณในการเข้าสู่ตำแหน่งสั้น
อินดิเคเตอร์ Engulfing Candle เป็นเครื่องมือที่เรียบง่ายแต่มีประสิทธิภาพที่สามารถให้ข้อมูลเชิงลึกที่มีคุณค่าเกี่ยวกับความเชื่อมั่นในตลาดและการกลับตัวของราคา ด้วยการทำความเข้าใจและใช้งานรูปแบบนี้ ผู้ซื้อขายสามารถตัดสินใจได้อย่างมีข้อมูลมากขึ้นและปรับปรุงกลยุทธ์การซื้อขายของพวกเขา
Quarter Shift IdentifierQuarter Shift Identifier
This indicator helps traders and analysts identify significant price movements between quarters. It calculates the percentage change from the close of the previous quarter to the current price and signals when this change exceeds a 4% threshold.
Key Features:
• Automatically detects quarter transitions
• Calculates quarter-to-quarter price changes
• Signals significant shifts when the change exceeds 4%
• Displays blue up arrows for bullish shifts and red down arrows for bearish shifts
How it works:
1. The script tracks the closing price of each quarter
2. When a new quarter begins, it calculates the percentage change from the previous quarter's close
3. If the change exceeds 4%, an arrow is plotted on the chart
This tool can be useful for:
• Identifying potential trend changes at quarter boundaries
• Analyzing seasonal patterns in price movements
• Supplementing other technical analysis tools for a comprehensive market view
Recommended Timeframes are Weekly and Daily.
Disclaimer:
This indicator is for informational and educational purposes only. It is not financial advice and should not be the sole basis for any investment decisions. Always conduct your own research and consider your personal financial situation before trading or investing. Past performance does not guarantee future results.
Bitcoin 1H-15M Breakout StrategyKey Features
1H and 15M Timeframes:
The script uses the 1-hour timeframe for the range and 15-minute timeframe for breakout conditions.
request.security is used to fetch the higher timeframe data.
Risk Management:
Variables entry_price, sl_price, and tp_price are declared explicitly as float with na initialization to handle dynamic assignment.
Stop-loss and take-profit levels are calculated based on the specified Risk-Reward Ratio (RRR) and buffer (in pips).
Trade Logic:
Long trade triggered when the 15-minute candle closes above the 1-hour high.
Short trade triggered when the 15-minute candle closes below the 1-hour low.
Visualization:
The range_high and range_low (previous 1-hour high and low) are plotted on the chart using dashed lines.
Debugging:
Enabling the show_debug input displays labels showing stop-loss and take-profit values for easier troubleshooting.
TTZConcept GOLD XAUUSD Lot CalculatorThe Gold Lot Size Calculator for XAU/USD on TradingView is a powerful and user-friendly tool designed by TTZ Concept to help traders calculate the optimal lot size for their Gold trades based on their account size, risk tolerance, and the price movement of Gold (XAU/USD). Whether you're a beginner or an experienced trader, this tool simplifies position sizing, ensuring that your trades align with your risk management strategy.
Key Features:
Accurate Lot Size Calculation: Calculates the optimal lot size for XAU/USD trades based on your specified account balance and the percentage of risk per trade.
Flexible Risk Management**: Input your desired risk percentage (e.g., 1%, 2%) to ensure that you are not risking more than you're comfortable with on any single trade.
Customizable Inputs: Enter your account balance, risk percentage, stop loss (in pips), and leverage to get an accurate lot size recommendation.
Real-Time Data The tool uses real-time Gold price data to calculate the position size, ensuring that your risk management is always up to date with market conditions.
-Simple Interface: With easy-to-use sliders and input fields, you can quickly adjust your parameters and get the required lot size in seconds.
No Complicated Calculations Automatically factors in the pip value and contract specifications for XAU/USD, eliminating the need for manual calculations.
How It Works:
1. Input your trading account balance: The tool calculates based on your total equity.
2. Set your risk percentage: Choose how much of your account you want to risk on a single trade.
3. Define your stop loss in pips: Specify the distance of your stop loss from the entry point.
4. Get your recommended lot size: Based on your inputs, the tool will calculate the ideal lot size for your trade.
Why Use This Tool?
Precise Risk Management: Take control of your trading risk by ensuring that each trade is positioned according to your risk tolerance.
Save Time: No need for manual calculations — let the calculator handle the complex math and focus on your strategy.
Adapt to Changing Market Conditions: As the price of Gold (XAU/USD) fluctuates, your lot size adapts to ensure consistent risk management across different market conditions.
Perfect for:
- Gold traders (XAU/USD)
- Beginners seeking to understand position sizing and risk management
- Experienced traders looking to streamline their trading process
- Anyone who trades Gold futures, CFDs, or spot Gold in their trading account
Active Ranges Detector
1. Purpose
The script identifies and manages bar ranges, which are defined as bars where the high and low prices are fully contained within the high and low of the previous bar. These ranges are used by traders to identify potential breakouts and price consolidations.
2. Key Features
Active Range Validation
A potential range becomes an active range when the price breaks out of the bar’s high or low. The breakout direction is tracked:
• Upward breakout: When the price closes above the high of the range.
• Downward breakout: When the price closes below the low of the range.
The script creates:
• Lines to represent the high and low of the range.
• A colored background box to indicate the range, with color coded for breakout direction:
• Green: Upward breakout.
• Orange: Downward breakout.
Range Updates
• Exit Detection: The script detects if the price exits the range (moves outside the high or low levels).
• Reintegration and Mitigation:
• If the price re-enters an exited range, it marks the range as “mitigated.”
• The lines for mitigated ranges are updated (color and width are changed).
• The background box is removed for mitigated ranges.
3. User Inputs
The script provides customization options:
• Breakout Colors:
• upBreakoutColor: Background color for upward breakout ranges (default: semi-transparent green).
• downBreakoutColor: Background color for downward breakout ranges (default: semi-transparent orange).
• Mitigated Range Styling:
• mitigatedLineColor: Line color for mitigated ranges (default: red).
• mitigatedLineWidth: Width of the line for mitigated ranges.
• Line and Background Settings:
• activeLineWidth: Width of lines for active ranges.
• lineExtension: Length of line extensions beyond the range’s initial boundaries.
• Range Display Limits:
• maxActiveRanges: Maximum number of active ranges to display on the chart (default: up to 200).
4. Visualization
The script provides clear visual feedback for identified ranges:
• Lines: High and low levels of the range are drawn as lines on the chart.
• Background Boxes: Colored boxes are drawn to represent active ranges, with breakout direction indicated by the box’s color.
• Mitigation Styling: Mitigated ranges have updated line styles and no background.
5. Range Management
The script actively manages ranges:
• Tracks the status of each range (active, exited, reintegrated, mitigated).
• Limits the number of displayed ranges to improve chart readability and comply with TradingView’s object limits.
6. Use Case
This script is ideal for traders who:
• Use inside bars to identify areas of consolidation and breakout opportunities.
• Want to track active and mitigated ranges automatically.
• Need a clear, visual representation of ranges and breakout directions.
7. Limitations
• Inside bars are identified based only on the current and previous bar, so the script might not detect more complex consolidation patterns.
• The maximum number of ranges displayed is limited to the user-defined value (maxActiveRanges), with a hard limit of 200 due to TradingView’s object restrictions.
Daily Weekly Monthly Highs & Lows - Alerts !
1. Purpose
The script helps traders:
• Visualize the high and low levels for the previous daily, weekly, and monthly periods.
• Receive alerts when the current price crosses these levels.
• Identify key support and resistance zones based on historical highs and lows.
2. Key Features
User Inputs
The script offers customization options through input parameters:
• Daily Levels:
• Enable/disable displaying daily levels (Show Daily Levels).
• Customize the color for daily level lines (Daily Line Color).
• Weekly Levels:
• Enable/disable displaying weekly levels (Show Weekly Levels).
• Customize the color for weekly level lines (Weekly Line Color).
• Monthly Levels:
• Enable/disable displaying monthly levels (Show Monthly Levels).
• Customize the color for monthly level lines (Monthly Line Color).
3. Core Functionality
Level Calculations
The script retrieves the previous daily, weekly, and monthly highs and lows using the request.security() function:
• Daily High/Low: Taken from the previous day’s high and low.
• Weekly High/Low: Taken from the previous week’s high and low.
• Monthly High/Low: Taken from the previous month’s high and low.
Price Crossing Detection
For each level (daily, weekly, monthly), the script checks if the current high or low price has crossed:
• The previous high (triggering a “High Reached” alert).
• The previous low (triggering a “Low Reached” alert).
4. Visual Features
The script plots lines to represent the previous highs and lows:
• Daily Levels:
• Dashed lines for the previous daily high and low.
• Configurable color (Daily Line Color).
• Weekly Levels:
• Dashed lines for the previous weekly high and low.
• Configurable color (Weekly Line Color).
• Monthly Levels:
• Dashed lines for the previous monthly high and low.
• Configurable color (Monthly Line Color).
These lines extend forward by one bar for better visibility on the chart.
5. Alert Features
The script provides alerts for when the price crosses these levels:
• Daily Alerts:
• “Daily High Reached” when the current price crosses the previous daily high.
• “Daily Low Reached” when the current price crosses the previous daily low.
• Weekly Alerts:
• “Weekly High Reached” when the current price crosses the previous weekly high.
• “Weekly Low Reached” when the current price crosses the previous weekly low.
• Monthly Alerts:
• “Monthly High Reached” when the current price crosses the previous monthly high.
• “Monthly Low Reached” when the current price crosses the previous monthly low.
6. Practical Use Case
This script is ideal for traders who:
• Use support and resistance levels from daily, weekly, and monthly timeframes as part of their strategy.
• Want to monitor price interactions with these levels in real-time.
• Need automatic alerts for key price movements without continuously monitoring the chart.
7. Limitations
• Max Line Count: TradingView limits the number of lines that can be drawn on the chart to max_lines_count = 500.
• No Historical Levels: The script only tracks the most recent daily, weekly, and monthly levels and does not display historical levels.
Doji Detector- Alerts!
1. Purpose
The script identifies Doji candles, which are candlesticks with very small or negligible bodies and relatively large wicks. These patterns often indicate market indecision and can serve as potential reversal signals.
2. User Inputs
The script includes several customizable parameters to fine-tune the detection of Doji candles:
• wickRatioLimit: Defines the maximum allowable ratio between the sizes of the upper and lower wicks.
• Example: If the upper wick is no more than 1.5 times larger than the lower wick (or vice versa), the candle can be classified as a Doji.
• bodyColor: Specifies the color for the body of detected Doji candles.
• showMarker: Enables or disables the display of a visual marker (a triangle) below detected Doji candles.
• bodyToWickRatio: Sets the maximum ratio between the size of the candle’s body and the total length of its wicks.
• Example: A body-to-wick ratio of 0.5 means the body cannot be larger than 50% of the sum of the upper and lower wicks.
• alertOnDoji: Activates or deactivates alerts when a Doji candle is detected.
3. Detection Mechanism
The script calculates key components of the candlestick:
• Upper Wick: Difference between the high price and the larger of the open or close prices.
• Lower Wick: Difference between the low price and the smaller of the open or close prices.
• Body Size: Absolute difference between the open and close prices.
It then determines whether the candle qualifies as a Doji based on the following conditions:
1. The body size must be less than or equal to the specified fraction of the total wick size (bodyToWickRatio).
2. The ratio of the upper wick to the lower wick must not exceed the defined wickRatioLimit.
If both conditions are met, the candle is classified as a Doji.
4. Visual Features
The script provides visual indicators for detected Doji candles:
• Bar Coloring: The bodies of detected Doji candles are colored with the specified bodyColor (default is red).
• Markers: If enabled (showMarker = true), a green triangle is plotted below each detected Doji candle for easy identification.
5. Alerts
The script sets up alert conditions for detected Doji candles:
• If alertOnDoji is enabled, an alert is triggered whenever a Doji candle is detected.
• The alert message is customizable and displays “Doji Detected!” by default.
6. Use Case
This script is useful for traders who want to:
• Identify moments of market indecision (Doji patterns) automatically.
• Receive alerts to take appropriate trading actions based on these patterns.
• Highlight Doji candles on charts with customized colors and markers.
Quasimodo PatternWhat is a Quasimodo Pattern?
A Quasimodo Pattern is a chart pattern traders look for to predict possible price reversals in the market:
- Bullish Quasimodo: Signals a possible price increase (buying opportunity).
- Bearish Quasimodo: Signals a potential price decrease (selling opportunity).
How the Script Works
1. Bullish Quasimodo:
- Checks if the price pattern shows signs of a potential upward movement:
- The current low price is higher than a previous price point (suggesting fair value gap).
- The previous candle closed higher than it opened (bullish candle).
- The candle before that closed lower than it opened (bearish candle).
2. Bearish Quasimodo:
- Looks for signs of a downward movement:
- The current high price is lower than a previous price point (suggesting fair value gap).
- The previous candle closed lower than it opened (bearish candle).
- The candle before that closed higher than it opened (bullish candle).
Visual Indicators
- Yellow Candles: Indicate a bullish Quasimodo pattern.
- Pink Candles: Indicate a bearish Quasimodo pattern.
Alerts
If a Quasimodo pattern is detected, the script sends an alert:
- The alert says: "A Quasimodo Pattern has appeared!"
Purpose
Traders can use this tool to quickly spot potential trend changes without manually analyzing every chart, saving time and improving decision-making for trades.
Multi Timeframe Market Formation [LuxAlgo]The Multi Timeframe Market Formation tool allows traders to analyze up to 6 different timeframes simultaneously to discover their current formation, S/R levels and their degree of synchronization with the current chart timeframe. Multi timeframe analysis made easy.
🔶 USAGE
By default, the tool displays the chart's timeframe formation plus up to 5 other formations on timeframes higher than the one in the chart.
When the chart formation is synchronized with any enabled timeframe formation, the tool displays labels and a trailing channel, it uses a gradient by default, so the more timeframes are synchronized, the more visible the labels and the trailing channel are.
All timeframes enabled in the settings panel must be higher than the chart timeframe, otherwise the tool will display an error message.
🔹 Formations
A formation is a market structure defined by a lower and an upper boundary (also known as support & resistance).
Each formation has a different symbol and color to identify it at a glance.
It helps traders to know the current market behavior and the tool displays up to 5 of them.
BULLISH (green ▲): higher high and higher low
BEARISH (red ▼): lower high and lower low
CONTRACTION (orange ◀): lower high and higher low
EXPANSION (blue ▶): higher high and lower low
SIDEWAYS (yellow ◀): Any that does not fit with the others
🔹 Multi Timeframe Formations
The tool displays up to 6 different timeframe formations, the chart timeframe plus 5 more configurable from the settings panel.
Each of them has an upper and lower limit, a timeframe, a color and an icon.
If a bound level is shared by more than one formation, the timeframes and symbols are displayed on the same line.
These are significant levels shared by different timeframes and traders need to be aware of them.
🔹 Sync With Chart Timeframe
If the current formation on the chart timeframe is in sync with any of the timeframes enabled in the settings panel, the tool will display this on the chart.
The more timeframes are in sync, the more they are visible, providing a clear visual representation of the common market behavior on multiple timeframes at the same time.
🔶 SETTINGS
Formation size: Size of market formations on the chart timeframe
🔹 Timeframes
TF1 to TF5: Activate/deactivate timeframe, set size of market formation and activate/deactivate high and low levels
🔹 Style
Show Labels: Enable/Disable Timeframe Sync Labels
Transparency Gradient: Enable/Disable Transparency Gradient
Show Trailing Channel | Multiplier: Enable/Disable Trailing Channel and set multiplier
Color for each formation
Enhanced SPX and BTC Overlay with EMASPX-BTC Momentum Gauge and EMA Cross Indicator
Thorough Analysis:
• Combined Overlay (Green/Red Line):
o Function: Plots a wide line over the price chart, representing a composite of SPX and BTC dynamics adjusted by volume data.
o Color Coding:
Green: Indicates bullish conditions when the combined value exceeds its 10-period SMA and Bitcoin volume increases.
Red: Signals bearish conditions when the combined value drops below its 10-period SMA and Bitcoin volume decreases.
o Line Characteristics:
Width: Set at 8 for high visibility.
Transparency: 86% for both colors to overlay without obscuring candlesticks.
Scaling: Uses a factor of 0.02446 to amplify movements, making trend changes more noticeable.
• Continuous Bright Red and Green Lines:
o 20-period EMA of Current Ticker (Red):
Purpose: Acts as a medium-term trend indicator, smoothing price data to reflect the asset's general direction over time.
Color: Bright red for easy identification.
Transparency: 60% to keep it visible but not overpowering.
o 5-period EMA of BTC (Green):
Purpose: Provides insights into short-term Bitcoin momentum, capturing rapid changes in market sentiment.
Color: Bright green to distinguish from the red EMA.
Transparency: 30% for high visibility against price movements.
Detailed Analysis of the EMA Cross:
• Crossing Points:
o Bullish Crossover:
Occurs when the 5-period BTC EMA (green) moves above the 20-period EMA of the current ticker (red).
Suggests that Bitcoin's short-term momentum is gaining strength relative to the asset's medium-term trend, potentially signaling an upcoming uptrend or strengthening of an existing one.
o Bearish Crossover:
When the green line falls below the red, it indicates that Bitcoin's immediate momentum is weakening compared to the asset's medium-term trend, which might precede a downtrend or confirm one.
• Early Trade Signals:
o Entry/Exit Points:
These crossovers can guide traders in making timely decisions to enter or exit trades, especially when corroborated by the combined overlay's color.
o Confirmation:
EMA crossovers can confirm trends indicated by the combined overlay. For example, a bullish crossover with a green combined line could validate a buying opportunity.
o Volatility Insights:
The rapid shifts in Bitcoin's 5-period EMA highlight potential volatility spikes, offering an additional layer of market analysis, particularly useful in volatile markets.
• Strategic Use:
o Multi-Market Insight: The script integrates data from both traditional (SPX) and crypto (BTC) markets, allowing for a more comprehensive analysis of market conditions.
o Decision-Making: Provides traders with visual cues for market sentiment, trend direction, and potential reversals, enhancing strategic trading decisions.
o Trend Confirmation: The combination of EMA crossovers and the overlay's color changes offers a multi-faceted approach to trend confirmation or divergence.
In Summary:
• This script merges elements of traditional stock market analysis with cryptocurrency dynamics, utilizing color changes, line thickness, and EMA crossovers to visually communicate market conditions, offering traders a robust tool for analyzing and acting on market movements.
Dominan BreakPlots an arrow what dominan got break. Dominan is a bar which high is higher than high of the next x bars and low is lower than low of the next x bars. So, next x bars are completely in range of that dominan bar.
