Open Liquidity Heatmap [BigBeluga]Open Liquidity Heatmap is an indicator designed to display accumulated resting liquidity on the chart.
Unlike any other liquidity heatmap, this aims to accumulate liquidity at specific levels that build up over time, showing larger areas of liquidity.
🔶 FEATURES
The indicator includes the following settings:
Lookback : Used to determine the range calculation of the heatmap.
Leverage : Leverage of the liquidation (Counted as % in price, Example: 4.5 will return a distance from price of 4.5%, indicating any possible resting liquidity in this range).
Levels : Amount of levels to display (Each level is counted as liquidity resting on the chart; fewer levels will return a bigger area of liquidity sitting on the chart).
Mode : Apply a color gradient from the minimum liquidation to the maximum liquidity level. Set the maximum color gradient value (Counted as volume).
Offset : Automatically determine the offset range of the Volume Profiles. Manual offset of the Volume Profiles.
🔶 CALCULATION
for i = 0 to step - 1
float plotter = na
switch i
0 =>
plotter := hs
=>
plotter := hs - diff * ( i )
cls.hm.gnL(plotter)
cls.vp.put(plotter, 0)
We calculate levels like a normal volume profile with steps, from the highest point within the lookback to the lowest one. Each level will contain the corresponding amount of volume that the candle has closed in that range.
As we can see in the image above, we add liquidity each time the distance in % from price is between two levels.
Unlike many liquidity indicators that provide a single candle liquidity heatmap, this aims to add up liquidity (volume) in already present levels.
This can be extremely useful to see which levels are likely to be more liquid and tend to get a bigger reaction to the price.
Imagine it like a range of levels that each time price revisits that area, a new position area is added; we add volume in that area each time price visits that zone. Liquidity builds up in those zones, causing a bigger reaction to the price once the price visits it.
This indicator is not the same as a single candle heatmap like many others. What is a single candle heatmap?
A single candle heatmap is when a level is created on every new candle, coloring the level based on the total volume of it.
This indicator, on the contrary, aims to provide a more specific use by adding up liquidity each time price visits it.
🔶 BASIC DEMOSTRATION
This is a basic demonstration of how we can spot high liquidity points overall using confluence:
We see the POC of the liquidation in a low volume area of the normal volume profile adding up as confluence.
Resistance from the POC Volume Profile suggesting price will go lower.
Major long open liquidity down.
As we can see, price takes out all the long liquidity and right after pumping, indicating that all the major liquidity got taken out.
Some key note to take is that a POC in the liquidation heatmap in a low volume area of the normal Volume Profile add confluence of a possible big reaction in that zone.
In the forex market, we suggest to use a low distance from price (Leverage) while in a crypto market you can use the one that fit the best the current timeframe.
🔶 CONCLUSION
This indicator aims to show open resting liquidity that had built up over time, showing the most amount of liquidation in specific areas in an aggregated way unlike many liquidation heatmap indicators that show single-level liquidation.
🔶 RELATED SCRIPT
Motifs graphiques
Fibonacci Inversion Fair Value Gaps | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Fibonacci Inversion Fair Value Gaps (IFVG) indicator! Inverse Fair Value Gaps occur when a Fair Value Gap becomes invalidated. They reverse the role of the original Fair Value Gap, making a bullish zone bearish and vice versa. This indicator plots the Fibonacci retracement levels of the IFVG, which often act like support & resistance levels.
Features of the new Fibonacci IFVGs Indicator :
Renders Bullish / Bearish IFVG Zones
Renders Fibonacci Retracement Levels Of IFVGs
Combination Of Overlapping FVG Zones
Variety Of Zone Detection / Sensitivity / Filtering / Invalidation Settings
High Customizability
🚩UNIQUENESS
This indicator stands out with its ability to render up to 3 Fibonacci retracement levels of IFVGs. Fibonacci retracement levels are widely used within trading, and we wanted to implement them for IFVG zones. You can also customize the FVG Filtering method, FVG & IFVG Zone Invalidation, Detection Sensitivity etc. according to your needs to get the best performance from the indicator.
📌 HOW DOES IT WORK ?
A Fair Value Gap generally occur when there is an imbalance in the market. They can be detected by specific formations within the chart. An Inverse Fair Value Gap is when a FVG becomes invalidated, thus reversing the direction of the FVG.
This indicator renders 0.618, 0.5 and 0.382 (can be changed from the settings) Fibonacci retracement levels of the IFVGs, which often act as support and resistances. Check this example :
⚙️SETTINGS
1. General Configuration
FVG Zone Invalidation -> Select between Wick & Close price for FVG Zone Invalidation.
IFVG Zone Invalidation -> Select between Wick & Close price for IFVG Zone Invalidation. This setting also switches the type for IFVG consumption.
Zone Filtering -> With "Average Range" selected, algorithm will find FVG zones in comparison with average range of last bars in the chart. With the "Volume Threshold" option, you may select a Volume Threshold % to spot FVGs with a larger total volume than average.
FVG Detection -> With the "Same Type" option, all 3 bars that formed the FVG should be the same type. (Bullish / Bearish). If the "All" option is selected, bar types may vary between Bullish / Bearish.
Detection Sensitivity -> You may select between Low, Normal or High FVG detection sensitivity. This will essentially determine the size of the spotted FVGs, with lower sensitivies resulting in spotting bigger FVGs, and higher sensitivies resulting in spotting all sizes of FVGs.
Show Historic Zones -> If this option is on, the indicator will render invalidated IFVG zones as well as current IFVG zones. For a cleaner look at current IFVG zones which are not invalidated yet, you can turn this option off.
2. Fibonacci Retracement Levels
You can enable / disable up to 3 different Fibonnaci Retracement levels at this group of settings. You can also switch their line styles between solid, dashed and dotted as well as changing their colors.
GG - LevelsThe GG Levels indicator is a tool designed for day trading U.S. equity futures. It highlights key levels intraday, overnight, intermediate-swing levels that are relevant for intraday futures trading.
Terminology
RTH (Regular Trading Hours): Represents the New York session from 09:30 to 17:00 EST.
ON Session (Overnight Session): Represents the trading activity from 17:00 to 09:29 EST.
IB (Initial Balance): The first hour of the New York session, from 09:30 to 10:30 EST.
Open: The opening price of the RTH session.
YH (Yesterday's High): The highest price during the RTH session of the previous day.
YL (Yesterday's Low): The lowest price during the RTH session of the previous day.
YC (Yesterday's Close): The daily bar close which for futures gets updated to settlement.
IBH (Initial Balance High): The highest price during the IB session.
IBL (Initial Balance Low): The lowest price during the IB session.
ONH (Overnight High): The highest price during the ON session.
ONL (Overnight Low): The lowest price during the ON session.
VWAP (Volume-Weighted Average Price): The volume-weighted average price that resets each day.
Why is RTH Important?
Tracking the RTH session is important because often times the overnight session can be filled with "lies". It is thought that because the overnight session is lower volume price can be pushed or "manipulated" to extremes that would not happen during higher volume times.
Why is the ON Session Important Then?
Just because the ON session can be thought as a "lie" doesn't mean it is relevant to know. For example, if price is stuck inside the ON range then you can think of the market as rotational or range-bound. If price is above the ON range then it can be thought of as bullish. If price is below the ON range then it can be thought as bearish.
What is IB?
IB or initial balance is the first hour of the New York Session. Typically the market sets the tone for the day in the first hour. This tone is similarly a map like the ON session. If we are above the IBH then it is bullish and likely a trend day to the upside. If we are below the IBL then it is bearish and likely a trend day to the downside. If we are in IB then we want to avoid conducting business in the middle of IBH and IBL to avoid getting chopped up in a range bound market.
These levels are not a holy grail
You should use this indicator as guide or map for context about the instrument you are trading. You need to combine your own technical analysis with this indicator. You want as much context confirming your trade thesis in order to enter a trade. Simply buying or selling because we are above or below a level is not recommended in any circumstance. If it were that easy I would not publish this indicator.
Adjustments
In the indicator settings you can adjust the RTH, ON, and IB session-time settings. All of the times entered must be in EST (Eastern Standard Time). You may want to do this to apply the levels to a foreign market.
Examples
Double Tops/Bottoms [UAlgo]🔶Description:
The "Double Tops/Bottoms " indicator is designed to identify potential double tops and double bottoms on price charts. These patterns are often considered significant as they may indicate a reversal in the prevailing trend. The indicator can be applied to both high/low and close price data, offering flexibility in analyzing different aspects of market behavior.
🔶Key Features:
Source Selection: Users can choose between using high/low or close prices as the basis for identifying double tops and bottoms, allowing for tailored analysis based on specific price actions.
Lookback Length: The indicator offers a customizable lookback length, enabling users to adjust the sensitivity of pattern detection according to their trading preferences and timeframes.
Pivot Length: Users can specify the length of the pivot used in identifying double tops and bottoms, providing flexibility in capturing different market dynamics.
Minimum Bar Count Between Tops/Bottoms: A minimum bar count parameter allows users to control the distance between consecutive tops or bottoms, enhancing the accuracy of pattern recognition.
Pivot Tops/Bottoms Only: The indicator offers the option to focus exclusively on pivot tops and bottoms, streamlining the analysis process for users interested specifically in these key reversal points.
Disclaimer:
Trading involves substantial risk and is not suitable for every investor. The indicator provided here is intended for informational purposes only and should not be construed as investment advice or a recommendation to buy, sell, or hold any securities. Users are solely responsible for evaluating their own investment decisions and should seek professional financial advice if needed. The creator of this indicator (UAlgo) does not guarantee the accuracy, completeness, or reliability of the information provided, and shall not be liable for any losses incurred in connection with its use. By using this indicator, users acknowledge and agree to assume all risks associated with trading activities.
Xen's Flag Pattern Scalper1. Input Parameters:
FlagLength: Determines the length of the flag pattern.
TakeProfit1Ratio, takeProfit2Ratio, takeProfit3Ratio: Define the ratios for calculating
the take-profit levels relative to the entry price.
RiskRewardRatio: Specifies the risk-reward ratio for calculating the stop-loss level
relative to the entry price.
2 Flag Conditions:
BullishFlag: Checks if the current bar meets the conditions for a bullish flag pattern. It
evaluates to true if the low of the current bar is lower than the low flagLength bars
ago, and the close of the current bar is higher than the high flagLength bars ago.
BearishFlag: Checks if the current bar meets the conditions for a bearish flag pattern. It evaluates to true if the high of the current bar is higher than the high flagLength bars
ago, and the close of the current bar is lower than the low flagLength bars ago.
3. Entry Price:
EntryPrice: Calculates the entry price based on whether a bullish or bearish flag
pattern is identified. For a bullish flag, the entry price is set to the low of the current bar.
For a bearish flag, the entry price is set to the high of the current bar.
4. Stop Loss:
StopLoss: Determines the stop-loss level based on the entry price and the specified
riskRewardRatio . For a bullish flag, the stop-loss level is calculated by subtracting the
difference between the high and low of the current bar multiplied by the riskRewardRatio from the low of the current bar. For a bearish flag, the stop-loss level
is calculated similarly but added to the high of the current bar.
5. Take Profit Levels:
Three take-profit levels ( takeProfit1, takeProfit2, takeProfit3 ) are calculated based on
the entry price, stop-loss level, and specified take-profit ratios ( takeProfit1Ratio,
takeProfit2Ratio, takeProfit3Ratio ).
6. Plotting Signals and Levels:
Bullish and bearish flag patterns are plotted using triangle shapes ( shape.triangleup for
bullish and shape.triangledown for bearish) above or below the bars, respectively.
Entry, stop-loss, and take-profit levels are plotted using horizontal lines ( line.new )
with different colors and styles. Entry and stop-loss levels are labeled with "Entry" and "SL",
respectively, while take-profit levels are labeled with "TP 1", "TP 2", and "TP 3".
The colors for bullish flags are white for entry, red for stop-loss, and green for take-profit levels. For bearish flags, the colors are the same, but the labels are plotted above the bars.
7. Label Placement:
Labels for entry, stop-loss, and take-profit levels are placed a distance of 4 bars to the right
of the entry price using bar_index + 4 .
This indicator is intended to help traders identify flag patterns on price charts and visualize potential entry, stop-loss, and take-profit levels associated with these patterns.
Please use risk management and when TP1 is hit, move stoploss to breakeven .
Never Go Back LineThis is the never go back linear regresssion Indicator.
Its based on a linear regression of the never look back values.
Its like a logarithmic linear regression but on reverse choosing only the tops.
The code is based on Alllanster Never Going Back again Script and Ricardo Santos linear regression script
LIT - Timings Fx MartinThe Asia Liquidity Points Indicator is a powerful tool designed for traders to identify key liquidity points during the Asia trading session. This script is tailored specifically to aid traders in capitalizing on the unique characteristics of Asian markets, providing invaluable insights into liquidity zones that can significantly enhance trading decisions.
Key Features:
Asia Session Focus: The indicator focuses exclusively on the Asia trading session, which encompasses the trading activity primarily in the Asian markets such as Tokyo, Hong Kong, Singapore, and others.
Liquidity Zones Identification: The script utilizes advanced algorithms to identify and map out liquidity zones within the Asia trading session. These zones represent areas where significant buying or selling pressure is likely to occur, thus presenting lucrative trading opportunities.
Customizable Parameters: Traders have the flexibility to customize various parameters such as time frame, sensitivity, and display options to suit their trading preferences and strategies.
Visual Alerts: The indicator provides visual alerts on the trading chart, clearly indicating the location and strength of liquidity points. This feature enables traders to quickly identify potential entry or exit points based on the liquidity dynamics in the market.
Real-Time Updates: The script continuously monitors market activity during the Asia session, providing real-time updates on liquidity points as they evolve. This ensures traders stay informed and adaptable to changing market conditions.
Integration with Trading Strategies: The Asia Liquidity Points Indicator seamlessly integrates with various trading strategies, serving as a valuable tool for both discretionary and algorithmic traders. Whether used in isolation or in combination with other technical analysis tools, this indicator can enhance trading performance and profitability.
User-Friendly Interface: The indicator boasts a user-friendly interface, making it accessible to traders of all levels of experience. Whether you are a novice trader or a seasoned professional, you can easily incorporate this tool into your trading arsenal.
In conclusion, the Asia Liquidity Points Indicator offers traders a strategic advantage in navigating the nuances of the Asia trading session. By identifying key liquidity zones and providing real-time insights, this script empowers traders to make informed decisions and capitalize on lucrative trading opportunities in the dynamic Asian markets.
FTR Rules BoS/ChoCh MarkupThis indicator marks Break of Structure (BoS) and Change of Character (ChoCh) in the price structure on your charts. It runs on any timeframe. This indicator is useful for determining if you are seeing a trend change in the market or if you are only seeing a pullback with the market continuing in the direction of the trend. The indicator will look for price to break the previous BoS line or ChoCh line to mark a new BoS. When a BoS line is broken, it will then look for the lowest or highest pullback (depending on which way the market is trending) between to 2 BoS lines to mark the ChoCh line. When the ChoCh line is broken, it will mark that line as BoS and the previous BoS line will become ChoCh.
What makes this indicator unique from other BoS and ChoCh indicators is that it follows specific rules used by the FTR Trading group. The main difference is that the ChoCh line isn't changed to a BoS line from only a candle wick break. You will need a candle body break to move your BoS line to ChoCh. If a candle wick breaks your ChoCh line, you simply extend the ChoCh line to the new high or low of the wick. There are smaller differences that are proprietary to the FTR strategy.
Trend Channels (MTF) | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Trend Channels (MTF) indicator! Latest trends play an important role for traders and sometimes it can be hard to spot trends in other timeframes. This indicator can plot latest trend channels across different timeframes, so you can spot trends and their channels easier. More info about the process in the "How Does It Work" section.
Features of the new Trend Channels (MTF) indicator :
Plot Trend Channels Across Up To 3 Different Timeframes
Broad Customizability Of Trend Detection
Variety Of Trend Invalidation Options
High Visual Customizability
🚩UNIQUENESS
While the detection of trend channels is a common concept among traders, trend channels across different timeframes can be as crucial as the ones in the current timeframe. This indicator can find them from up to 3 different timeframes. While the general settings will perform well enough most of the time, the indicator also provides fine-tuning options for trend detection and trend invalidation for more experienced traders.
📌 HOW DOES IT WORK ?
Trend channels occur when the price of an asset starts making a strong movement in a bullish or a bearish direction. This indicator detects trend channels using the Simple Moving Average (SMA). When the slope of the SMA line exceeds the user-defined size, a trend channel will occur.
To understand how individual settings work, you can check the "⚙️SETTINGS" section.
⚙️SETTINGS
1. General Configuration
SMA Length -> Determines the length used in the SMA function. Higher values mean that an average of a longer timespan will be taken into account when spotting trends.
Slope Length -> Used while finding the slope of the trend channel. Check this example for slope length :
ATR Size -> This setting is taken into calculation while checking if a trend channel is worth plotting. The higher this setting is, the higher the slope of the trend channel must be to get rendered. You can take a look at the chart provided above for a visual explanation.
Channel Expander -> When a trend channel occurs, the top and the bottom of the channel are initally determined by the latest highest highs / lowest lows. This setting expands the channel vertically by X times Average True Range (ATR). Check this example :
Trend Invalidation -> The trend channel gets invalidated when the bar closes / wicks above the top of the channel, or below the bottom of the channel. With this setting, you can switch the behaviour between bar close / bar wick.
Avoid False Invalidation -> This setting makes it harder for trend channels to get invalidated to prevent false invalidations.
Retries : The trend channel will have 5 chances for invalidation. First 4 invalidations will not invalidate the channel. The trend channel will only invalidate once the 5th invalidation occur.
Volume : The bar that invalidates the trend channel must have a volume higher than 1.5x the average bar volume of the current chart. Otherwise the trend channel will not be invalidated.
None : The trend channel will invalidate at the first invalidation.
Institutional Supply and Demand ZonesThis indicator aims to identify price levels where institutional investors have positioned their buy or sell orders. These buy orders establish "demand zones," while sell orders create "supply zones." Identifying these zones enables us to anticipate potential reversals in price trends, allowing us to profitably engage in these significant market movements alongside major institutions. These zones are formed when price action goes from balanced to imbalanced. These zones are based on orders. Unlike standard support and resistance levels, when price breaks below a demand zone or above a supply zone, these zones disappear from the chart.
Supply is formed by a green candle followed by a major red candle that is at least double the size of previous green candle. The zone is then charted from the open of the green candle to the highest point in the candle. Vice versa for a demand zone (red into green).
These zones are traded by:
1. Look for a volume spike in a zone
2. A trend/trendline break out of the zone
STABLECOINS DEPEG FINDERSTABLECOINS DEPEG FINDER
With this script, you will be able to understand how DePeg in stablecoins USDT, USDC, and FDUSD can influence the TOTAL Market Cap.
WHAT IS DEPEG?
DePeg occurs when a stablecoin loses its peg. It can't maintain the $1.00 price for a while (or anymore). Traders can use DePeg for high-quality trading both in Crypto and Stablecoins. Usually, a Negative DePeg (e.g., 0.98%) means you can buy Stablecoins at a 2% discount. This translates to a 2% gain when the Stablecoin returns to its peg. Additionally, a Positive DePeg could be a good moment for selling or withdrawal.
WHY DEPEG MATTERS IN THE CRYPTO SPACE
Depeg in Crypto markets is primarily a matter of "earning from small differences in peg." If well understood, it can help traders and analysts to spot whales' next moves. Usually, when a negative DePeg (below $1) occurs, it means whales are in a hurry to sell their Stablecoin tokens for Crypto Tokens. In this hurry, they sell Stablecoins at a discount. In the short term, a Crypto pump is likely planned, and they buy the next x100 token.
On the other hand, a positive DePeg (above $1) means whales are in a hurry to convert tokens into Stablecoins because they are heavily selling Crypto Tokens. This leads to them paying more for Stablecoins. Positive Depeg is more interesting than Negative DePeg. Usually, it signifies an important sell-off in the crypto environment, creating high tension to safeguard your hard-earned money. Whales hurry to convert altcoins and tokens into stablecoins, causing a Positive Depeg (they are willing to pay more to be safe). Positive DePeg is plotted as Intense Background Color.
Identifying 'areas' where this occurs could help traders and analysts understand this highly manipulative market better and take positions.
THE SCRIPT
This script will help traders and analysts understand when USDT, USDC, and FDUSD depegged and how the crypto market reacted. It comes with the possibility to check and plot backgrounds when there's Positive DePeg or Negative DePeg for USDT, USDC, or FDUSD.
It's pretty useful for data analysis. In the bottom-right part, you can check the actual stablecoin peg for the three Stablecoins:
- Highest Positive DePeg in a given BackTrace
- Average Positive DePeg in a given BackTrace
- Actual Peg for USDT, USDC, FDUSD
- Average Negative DePeg in a given BackTrace
- Lowest Negative DePeg in a given BackTrace
UNDERSTANDING THE BACKGROUND PLOT
NEGATIVE DEPEG
For each Stablecoin, negative DePeg is plotted as Translucent Background Color: USDT lime, USDC aqua, FDUSD grey. You can choose from settings whether it needs to be enabled or disabled for each token.
POSITIVE DEPEG
For each Stablecoin, positive DePeg is plotted as Intense Background Color: USDT lime, USDC aqua, FDUSD grey. You can choose from settings whether it needs to be enabled or disabled for each token.
USE CASE EXAMPLES
With this script you can plan to be alerted WHEN one of those stablecoin are depegging over a threesold. Than you can act accordingly.
BUY OPPORTUNITY
Let' suppose you want to see how USDC can influence Crypto Price when deppeged
I've setup signal to be plotted only for negative Depeg when USDC goes below 0.998. As you can see it was a very good and nice buy area for the entire crypto market
SELL OPPORTUNITY
Spot a selling point could be harder. In the example below let's see how USDC positive DePeg can show signal of Crypto dump earlier in daily TF
Lined Psychological Levels [Dollar and 50 Cents]This indicator plots significant psychological price levels at 50 cent and dollar intervals. These levels often act as key support and resistance in the market, as traders tend to place orders around round numbers. By highlighting these levels, traders can easily visualize and potentially anticipate areas of price consolidation or breakout.
Time Based Comparison Tool [TFO]The goal of this indicator is to show how multiple assets are trading relative to their Previous Highs and Lows. Many traders have probably seen charts resembling this that may plot how asset prices are trading as a percent change over time, or something similar.
The key difference with this indicator is that all prices are normalized to reflect how they are trading with respect to the previous range of a user-defined timeframe. Without the normalization process, we would simply be observing some percent change from a given point in time; but this does not provide enough information to describe where price is trading relative to our desired frame of reference.
For example, if the timeframe setting was chosen to be 1 day, the indicator would plot the Previous High (PH) and Previous Low (PL) of the current symbol on the daily timeframe, denoted here by the black lines and labels. Then, the adjusted price of all selected symbols would be shown to visualize how each one is moving with respect its own PH and PL, using the current symbol's PH and PL as reference points.
In the above chart, we can see that CL was trading below its PDL from about 10:00-11:00 am EST, then broke above and retested it at around 11:20 am EST, before trading higher. To verify that this comparison works as intended, we can check to see that CL did in fact retest its PDL at this time before trading higher. Note that we are using the close price for this evaluation.
Since limiting the output to close prices can leave out some vital information, we can change the Plot Type setting from "Close" to "High to Low," which will instead show the range of prices from high to low instead of just the close.
We can expand on this by detecting when PH's and PL's have been raided (traded through), by displaying the text PHR (Previous High Raid) or PLR (Previous Low Raid) next to the symbol's label on the right. In this case below, where we're using the 1 week timeframe, we can observe that NQ1! (purple) traded through the PL level and thus its label (right) is updated to indicate a PLR.
Similarly, YM1! traded through its PH level and was updated to indicate a PHR; and ES1! raided both levels, with its label reflecting just that.
Due to the native limitation of output series in a single pine script, alerts have been consolidated to "Any PHR" or "Any PLR," meaning these alerts would fire if any of the selected symbols raided a PH or PL, respectively. If one wanted to be alerted for just a specific symbol, this could be achieved by deselecting all symbols except that which is desired, then setting an alert and adjusting its title for easier user recognition.
Swing Failure Pattern [UAlgo]🔶 Description:
The Swing Failure Pattern (SFP)o aims to identify potential reversal points in price action by detecting instances where price attempts to break past a previous high or low but fails to sustain that momentum, often indicating a shift in market sentiment.
🔶 Key Features:
Swing Failure Pattern Identification: The indicator identifies Swing Failure Patterns where price attempts to breach a recent high or low but fails to maintain that momentum, potentially signaling a reversal.
Customizable Lookback Period: Traders can adjust the lookback period to define the range within which Swing Failure Patterns are identified.
Minimum Bars Between SFP: This feature allows users to set a minimum number of bars required between Swing Failure Patterns to filter out noise and improve the accuracy of signals.
RSI Confluence: Traders have the option to incorporate RSI (Relative Strength Index) confluence into the signals, filtering SFP signals based on overbought and oversold levels of RSI. This adds an additional layer of confirmation to potential reversal points.
Example :
without Confluence :
with Confluence:
Customizable RSI Parameters: Users can customize the length of the RSI period as well as define overbought and oversold levels according to their trading strategy.
Visual Alerts: The indicator provides visual alerts on the price chart using labels to highlight potential Swing Failure Patterns, aiding traders in identifying these patterns quickly and efficiently.
Disclaimer:
Please note that the Swing Failure Pattern indicator is provided for informational purposes only and should not be considered as financial advice. Trading involves substantial risk, and users should conduct their own research and analysis or consult with a financial advisor before making any investment decisions based on this indicator. Additionally, past performance is not indicative of future results.
Multi VWAP from Gaps [MW]Multi VWAP from Gaps
Introduction
The Multi VWAP from Gaps tool extends the concept of using the Anchored Volume Weighted Average Price, popularized by its founder, Brian Shannon, founder of AlphaTrends. It creates automatic AVWAPS for anchor points originating at the biggest gaps of the week, month, quarter and year. Currently, most standard VWAP tools allow users to place custom anchored VWAPs, but the routine of doing this for every equity being watched can become cumbersome. This tool makes that process multi-times easier. Considering that large gaps can represent a shift in market structure, this tool provides unique and immediate insight into how past daily price gaps can and have affected price action.
Settings
LABEL SETTINGS
Show Biggest Gap of Week | Month | Quarter : Toggle labels that identify the location of the biggest gaps for the selected time period.
Show Big Labels : Toggle labels from showing the date and gap size to just showing a single letter (W/M/Q/Y) designating the time period that the gap is from.
Hide All Labels : Turn labels off and on.
MAX VWAP LINES
Max Weekly | Monthly | Quarterly | Yearly Lines : How many VWAP lines, starting from today, should be shown for the specified time period. Max: 5
SHOW VWAP LINES
Show Weekly | Monthly | Quarterly | Yearly Lines : This feature allows you to remove lines for the specified time period.
Calculations
This indicator does not provide buy or sell signals. It is simply the VWAP calculated starting from an “anchor point”, or start time. It is calculated by the summation of Price x Volume / Volume for the period starting at the anchor point.
How to Interpret
According to Brian Shannon, VWAP is an objective measure of what the average trader has paid for a particular equity over a given period, and is the value that large institutional investors frequently use as a trade signal. Therefore, by definition, when the price is above an AVWAP, buyers are in control for that period of time. Likewise, if the price is below the AVWAP, sellers are in control for that period of time.
VWAPs that coincide with important events, such as FOMC meetings, CPI reports, earnings reports, have added significance. In many cases, these events can cause gaps to happen in day-to-day price movement, and can affect market structure going forward.
Practically speaking, price action can tend to change direction when a significant VWAP is hit, voiding buy and sell signals. Like moving averages, this indicator can show, in real-time, how a buy or sell signal should be interpreted. A significant AVWAP line is a point of interest, and can serve as strong support or resistance, because large institutions may be using those values for entries or exits. For a great analysis of how to use AVWAP, visit the AlphaTrends channel on Youtube here or you can buy Brian Shannon’s “Anchored VWAP” book on Amazon.
Other Usage Notes and Limitations
It's important for traders to be aware of the limitations of any indicator and to use them as part of a broader, well-rounded trading strategy that includes risk management, fundamental analysis, and other tools that can help with reducing false signals, determining trend direction, and providing additional confirmation for a trade decision. Diversifying strategies and not relying solely on one type of indicator or analysis can help mitigate some of these risks.
Additionally, in order to build the VWAP calculations, past data is needed that may not be available on shorter timeframes. The workaround is that for some longer-term VWAP lines on shorter timeframes, you may see less than the total of lines that you selected in settings. This is particularly the case with quarterly VWAP lines on the 5 minute timeframe for some equities.
Acknowledgements
This script uses the MarketHolidays library by @Protervus. Also, for debugging, the JavaScript-style Debug Console by @algotraderdev was invaluable. Special thanks to @antsmuzic for helping review and debug the script. And, of course, without Brian Shannon's books, videos, and interviews, this indicator would would not have happened.
Inversion Fair Value Gap Consumption | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Inversion Fair Value Gap Consumption (IFVG) indicator! Inversion Fair Value Gaps occur when a Fair Value Gap becomes invalidated. They reverse the role of the original Fair Value Gap, making a bullish zone bearish and vice versa. IFVGs get "consumed" when market orders fill the gap occurred. With this indicator, you can now see the percentage of the IFVG's consumed part. For more information about the process, read the "HOW DOES IT WORK" section of the description.
Features of the new Consumption IFVG Indicator :
Render Bullish / Bearish IFVG Zones
See The Consumed Part Of The IFVG Zones
Combination Of Overlapping FVG Zones
Variety Of Zone Detection / Sensitivity / Filtering / Invalidation Settings
High Customizability
🚩UNIQUENESS
This indicator stands out with its ability to render the consumed part of IFVGs. You can see how much of the IFVG's gap is filled, with it's percentage. Also the ability to combine overlapping FVG zones will result in cleaner charts for traders. You can customize the FVG Filtering method, FVG & IFVG Zone Invalidation, Detection Sensitivity etc. according to your needs to get the best performance from the indicator.
📌 HOW DOES IT WORK ?
A Fair Value Gap generally occur when there is an imbalance in the market. They can be detected by specific formations within the chart. An Inversion Fair Value Gap is when a FVG becomes invalidated, thus reversing the direction of the FVG.
IFVGs get consumed when a Close / Wick enters the IFVG zone. Check this example:
⚙️SETTINGS
1. General Configuration
FVG Zone Invalidation -> Select between Wick & Close price for FVG Zone Invalidation.
IFVG Zone Invalidation -> Select between Wick & Close price for IFVG Zone Invalidation. This setting also switches the type for IFVG consumption.
Zone Filtering -> With "Average Range" selected, algorithm will find FVG zones in comparison with average range of last bars in the chart. With the "Volume Threshold" option, you may select a Volume Threshold % to spot FVGs with a larger total volume than average.
FVG Detection -> With the "Same Type" option, all 3 bars that formed the FVG should be the same type. (Bullish / Bearish). If the "All" option is selected, bar types may vary between Bullish / Bearish.
Detection Sensitivity -> You may select between Low, Normal or High FVG detection sensitivity. This will essentially determine the size of the spotted FVGs, with lower sensitivies resulting in spotting bigger FVGs, and higher sensitivies resulting in spotting all sizes of FVGs.
Show Historic Zones -> If this option is on, the indicator will render invalidated IFVG zones as well as current IFVG zones. For a cleaner look at current IFVG zones which are not invalidated yet, you can turn this option off.
HTF Candle ProjectionsThe HTF Candle Projections indicator shows a number of candles from a higher time frame (HTF) projected to the right of the candles in the current timeframe. This can be very useful if you want to analyze two different timeframes without the need to switching between the different timeframes.
This indicator is highly inspired by the HTF Power of Three indicator by @toodegrees but is fully free and open source, it also have support for showing more than just one candle in the projection. It is also inspired by the HTF Candle Insights (Expo) indicator by @Zeiierman but differ in the way that it update the HTF candles in real time and also have support for showing Open/High/Low projections that also updates in real time.
This indicator is released under TradingViews default license ( Mozilla Public License 2.0 )
Institutions vs. Crypto Whales Spot BuyingBased on analysis from @tedtalksmacro, I have put together a similar tool that helps to visualise whether institutions (Coinbase and Deribit) or native crypto whales (Binance and Bitfinex) are leading the BTC spot buying.
This is plotted as the normalised relative difference (-1 and 1) between the average of Coinbase and Deribit spot price versus Binance and Bitfinex. If positive (i.e. green bar), institutions are trading at a premium; if negative (i.e. red bar), crypto whales are trading at a premium.
For example, if crypto whales are trading at a premium and price is increasing, then they are leading the buying relative to institutions. However, if whales are trading at a premium and price is decreasing, then it is likely institutions are selling off at a more rapid rate relative to the crypto whales buying pressure. This applies to the alternate scenario where institutions are trading at a premium to crypto whales.
In recent times, native crypto whales (largely Binance) drove the push from 40 to 48k, but then also marked the local top with a major sell off at this price. Institutions then took over buying at the most recent lows, driven largely by GBTC outflows slowing down and Blackrock daily inflows exceeding Grayscale outflows for the first time late last week.
Session breakThis indicator will show future lines before each session start. It will only show London session and US session start.
You can change the color of the lines and time as per day light savings.
Up Weeks (William O'Neil)The indicator draws boxes when close to close returns are positive for at least a specified number of bars. The last bar is only included in the box (if positive) after the market is closed, to avoid false positives.
The standard use (by William O'Neil) is on weekly charts, using at least five consecutive up bars to define a box (indicating strong institutional buying activity).
Options:
* minimum number of up bars to form a box
* include flat bars (zero return) in the up count
* add labels to top and bottom box levels, as shown in the sample chart
Inversion Fair Value Gaps (IFVG) [LuxAlgo]The Inversion Fair Value Gaps (IFVG) indicator is based on the inversion FVG concept by ICT and provides support and resistance zones based on mitigated Fair Value Gaps (FVGs).
🔶 USAGE
Once mitigation of an FVG occurs, we detect the zone as an "Inverted FVG". This would now be looked upon for potential support or resistance.
Mitigation occurs when the price closes above or below the FVG area in the opposite direction of its bias.
Inverted Bullish FVGs Turn into Potential Zones of Resistance.
Inverted Bearish FVGs Turn into Potential Zones of Support.
After the FVG has been mitigated, returning an inversion FVG, a signal is displayed each time the price retests an IFVG zone and breaks below or above (depending on the direction of the FVG).
Keep in mind how IFVGs are calculated and displayed. Once price mitigates an IFVG, all associated graphical elements such as areas, lines, and signals will be deleted.
This indicator is not meant to be just a 'signal indicator'. Backtesting historical signals is incorrect as it does not consider the mitigation of IFVGs, which is a standard method for trading IFVGs & various concepts by ICT.
The signals displayed are meant for real-time analysis of current bars for discretionary analysis. Current confirmed retests of unmitigated IFVGs are still displayed to show which IFVGS have had significant reactions.
🔶 SETTINGS
Show Last: Specifies the number of most recent FVG Inversions to display in Bullish/Bearish pairs, starting at the current and looking back. Max 100 Pairs.
Signal Preference: Allows the user to choose to send signals based on the (Wicks) or (Close) Prices. This can be changed based on user preference.
ATR Multiplier: Filters FVGs based on ATR Width, The script will only detect Inversions that are greater than the ATR * ATR Width.
🔶 ALERTS
This script includes alert options for all signals.
🔹 Bearish Signal
A bearish signal occurs when the price returns to a bearish inversion zone and rejects to the downside.
🔹 Bullish Signal
A bullish signal occurs when the price returns to a bullish inversion zone and bounces out of the top.
Normalized Market IndicatorsExplanation of the Code:
Data Retrieval: The script retrieves the closing prices of the S&P 500 (sp500) and VIX (vix).
Normalization: The script normalizes these values using a simple z-score normalization (subtracting the 50-period simple moving average and dividing by the 50-period standard deviation). This makes the scales of the two datasets more comparable.
Plotting with Secondary Axis: The normalized values of the S&P 500 and VIX are plotted on the same chart. They will share the same y-axis scale as the main chart (e.g. Netflix, GOLD, Forex).
Points to Note:
Normalization Method: The method of normalization (z-score in this case) is a choice and can be adjusted based on your needs. The idea is to bring the data to a comparable scale.
Timeframe and Symbol Codes: Ensure the timeframe and symbol codes are appropriate for your data source and trading strategy.
Overlaying on Price Chart: Since these values are normalized and plotted on a seperate chart, they won't directly correspond to the price levels of the main chart (e.g. Netflix, GOLD, Forex).
Candlesticks Patterns [TradingFinder] Pin Bar Hammer Shooting🔵 Introduction
Truly, the title "TradingView" doesn't do justice to this excellent website, and that's why I've written about its crucial aspect. In this indicator, the identification of all candlesticks known as "Pin bars" is explored.
These candlesticks include the following:
- Hammer : A Pin bar formed at the end of a bearish trend, with its body being either bearish or bullish.
- Shooting Star : Formed at the end of a bullish trend, with its body being either bearish or bullish.
- Hanging Man : Formed during an upward trend, characterized by a candle with a lower shadow.
- Inverted Hammer : Formed during a downward trend, characterized by a candle with an upper shadow.
🟣 Important : For ease of use, we refer to these four candlestick patterns as Pin Bars and categorize them into the main friends "Bullish" and "Bearish."
🟣 Important : In all sources, Hanging Man and Inverted Hammer are referred to as "Reversal candles." However, in reality, whenever they appear after breaking a significant area (Break Out), we expect these candles to signal a continuation of the trend and confirmation in the direction of the trend.
🟣 Important : One of the best signs of market manipulation and entry by market giants is the "Ice Berg." So, it provides one of the best trading opportunities.
🔵 Reason for Creation
Many traders, especially volume traders, use Pin bars as confirmation and enter the market after their occurrence. In this indicator, all four patterns are identified and displayed in a colored candle format, using "triangle" and "circle."
When they are evident on the chart, directly or by drawing a horizontal line, they give us good alerts for reversal or continuation areas.
🔵 Information Table
1. Red circle: Pin bars formed in a downtrend.
2. Blue circle: Bullish Pin bars formed in an uptrend.
3. Black triangle: Bearish Pin bar candle in an uptrend.
4. Blue triangle: Bullish Pin bar candle in a downtrend.
🔵 Settings
Trend Detection Period: A special feature that considers smaller or larger fluctuations. If individual price waves need to be considered, use lower numbers; if the overall trend direction is desired, use larger numbers (e.g., 5-7 or higher). This precisely sets the Zigzag or Pivot format, not displayed but considered in the indicator calculation.
Trend Effect : By changing the Trend Effect status to "Off," all Pin bars, whether bullish or bearish, are displayed regardless of the current market trend. If the status remains "On," only Pin bars in the direction of the main market trend are shown.
🟣 Important : Black triangles "Number 3" and blue triangles "Number 4" displayed in the information table section, as explained in the "Information Table" section.
Show Bullish Pin Bar : When set to "Yes," displays bullish Pin bars; when set to "No," does not display them.
Show Bearish Pin Bar : When set to "Yes," allows the display of bearish Pin bars; when set to "No," does not display them.
Bullish Pin Bar Setting : Using the "Ratio Lower Shadow to Body" and "Ratio Lower Shadow to Higher Shadow" settings, you can customize your bullish Pin bar candles. Larger numbers impose stricter conditions for identifying bullish Pin bars.
Bearish Pin Bar Setting : Using the "Ratio Higher Shadow to Body" and "Ratio Higher Shadow to Lower Shadow" settings, you can customize your bearish Pin bar candles. Larger numbers impose stricter conditions for identifying bearish Pin bars.
Show Info Table : Allows the display or non-display of the information table (located at the bottom of the page and on the right side).
🔵 How to Use
At the end of a downtrend, look for "Hammer" candles, easily identified one by one.
To identify the "Shooting Star" candle pattern at the end of an uptrend; expect a price reversal in the downtrend.
For trades in the downward direction, wait for the formation of an "Inverted Hammer" Pin bar.
And finally, in an uptrend, where a "Hanging Man" candle can form.
🔵 Features
For better visualization, triangles and circles are used above the candles, but they can be easily removed. All Pin bars are displayed in color with the following meanings:
- Black-bodied candle: Inverted Hammer
- Turquoise blue candle: Hammer
- Pink candle: Hanging Man
- Red candle: Shooting Star
🟣 Important : The capability to detect the powerful two-candle pattern "Tweezer Top" at the end of an uptrend emerges by forming two "Shooting Star" candles side by side.
Similarly, the two-candle pattern "Tweezer Bottom" is created at the end of a downtrend with the formation of two "Hammer" candles side by side. To identify the "Tweezer" pattern, make sure the settings in the "Trend Effect" section are set to "Off."
🟣 Auxiliary Indicators
During the start of trading sessions such as Asia, London, and New York, where the highest liquidity exists, alongside this indicator, you can use the Trading Sessions indicator.
Sessions
The combination of Order Blocks "-OB" and "+OB" with candles is one of the best trading methods. The indicator that identifies order blocks, along with this indicator, can yield remarkable results in the success of Pin bar candles.
Order Blocks Finder
The trading toolset "TFlab" presents this indicator. To benefit from all indicators, we invite you to visit our page " TFlab Scripts ".
