Dollar Cost Averaging (YavuzAkbay)The Dollar Cost Averaging (DCA) indicator is designed to support long-term investors following a Dollar Cost Averaging strategy. The core aim of this tool is to provide insights into overbought and oversold levels, assisting investors in managing buy and sell decisions with a clear visual cue system. Specifically developed for use in trending or fluctuating markets, this indicator leverages support and resistance levels to give structure to investors' buying strategies. Here’s a detailed breakdown of the indicator’s key features and intended usage:
Key Features and Color Coding
Overbought/Oversold Detection:
The indicator shades candles from light green to dark green when an asset becomes increasingly overbought. Dark green signals indicate a peak, where the asset is overbought, suggesting a potential opportunity to take partial profits.
Conversely, candles turn from light red to dark red when the market is oversold. Dark red signifies a heavily oversold condition, marking an ideal buying window for initiating or adding to a position. This color scheme provides a quick visual reference for investors to manage entries and exits effectively.
Support and Resistance Levels:
To address the risk of assets falling further after an overbought signal, the DCA indicator dynamically calculates support and resistance levels. These levels guide investors on key price areas to watch for potential price reversals, allowing them to make more informed buying or selling decisions.
Support levels help investors assess whether they should divide their capital across multiple buy orders, starting at the current oversold zone and extending to anticipated support zones for maximum flexibility.
Usage Methodology
This indicator is intended for Dollar Cost Averaging, a method where investors gradually add to their position rather than entering all at once. Here’s how it complements the DCA approach:
Buy at Oversold Levels: When the indicator shows a dark red candle, it signals that the asset is oversold, marking an optimal entry point. The presence of support levels can help investors determine if they should fully invest their intended amount or stagger buys at potential lower levels.
Sell at Overbought Levels: When the indicator transitions to dark green, it suggests that the asset is overbought. This is an ideal time to consider selling a portion of holdings to realize gains. The resistance levels, marked by the indicator, offer guidance on where the price may encounter selling pressure, aiding investors in planning partial exits.
Customizable Settings
The DCA indicator offers several user-adjustable parameters:
Pivot Frequency and Source: Define the pivot point frequency and the source (candle wick or body) for more tailored support/resistance detection.
Maximum Pivot Points: Set the maximum number of pivot points to be used in support/resistance calculations, providing flexibility in adapting to different market structures.
Channel Width and Line Width: Adjust the width of the channel for support/resistance levels and the thickness of the lines for easier visual tracking.
Color Intensities for Overbought/Oversold Levels: Customize the shading intensity for each overbought and oversold level to align with your trading preferences.
Points pivots
Swing Percentile Lines [QuantVue]The Swing High/Low Percentile Indicator is designed to help traders identify key price levels based on the most recent swing high and low. By anchoring to the most recent swing high and swing low, the indicator automatically generates percentile lines ( 25%, 50%, 75%) that act as dynamic support and resistance levels.
What Does the Indicator Do?
The Swing High/Low Percentile Indicator works by identifying the most recent significant price swings, whether it's a swing high or swing low. It then calculates the range between these points and divides the distance into percentage-based levels. These levels are plotted on the chart as clear, easy-to-read lines at 25%, 50%, and 75% of the range between the swing high and low.
These percentile lines serve as dynamic price zones where traders can anticipate potential reactions, whether the market is trending or consolidating.
How Can Traders Use the Indicator?
Support and Resistance: The percentile lines act as evolving support and resistance zones. Traders can anticipate price bounces or breaks at these levels, providing opportunities for trend-following or reversal trades.
Trend Identification: The indicator helps traders determine the strength of a trend. In a strong uptrend, price will likely stay above the 50% or 75% lines, while in a downtrend, it may remain below the 50% or 25% lines. This gives traders an edge in recognizing the overall market direction.
Entry and Exit Points: Traders can use the percentile lines to time their entries and exits. For example, entering a trade on a pullback to the 25% or 50% line offers a favorable risk-to-reward ratio. Similarly, the percentile lines serve as natural profit targets, allowing traders to plan exits as the price approaches the 50% or 75% levels.
Risk Management: The clear delineation of price levels makes it easy for traders to set stop-loss orders. For example, if price falls below the 25% line in an uptrend, it may signal weakness, prompting an exit or reduced position size.
Breakout and Breakdown Scenarios: When price breaks above a recent swing high or below a swing low, the percentile lines provide traders with pullback entry opportunities or key levels to watch for continuation of the move.
Horizontal Lines at Custom IntervalsThis Pine Script indicator, "Horizontal Lines at Custom Intervals," is a versatile tool designed to help traders visualize key price levels at regular intervals above and below a specified starting price. It is particularly useful for identifying support and resistance zones, psychological price levels, or potential entry and exit points around a central price reference.
Customizable Starting Price**: Set a central price around which the lines will be drawn, such as a current asset price, pivot level, or significant historical level.
- **Adjustable Intervals and Range**: Choose the interval distance (in points) between each horizontal line, as well as the total range above and below the starting price. This flexibility allows the indicator to adapt to different asset classes and timeframes.
- **Full Chart Extensions**: Each line is set to extend across the entire chart, providing a clear, continuous visual reference that spans both past and future price action.
- **Editable Line Style, Width, and Color**: Personalize the appearance of the lines with selectable color, width, and style options (Solid, Dotted, Dashed), enabling the indicator to match your charting preferences and visual style.
### Applications:
1. **Support and Resistance Identification**: Traders can use the evenly spaced lines to identify potential support and resistance zones around the starting price, helping to mark areas of interest where price may react.
2. **Psychological Levels**: Round-number levels often hold psychological significance in trading. By setting intervals to common round numbers, this indicator can help identify these critical levels.
3. **Scalping and Range Trading**: This tool is especially valuable in range-bound markets, where repeated price action within defined levels allows traders to buy and sell around predictable zones.
4. **Trend Reversal and Breakout Signals**: In trending markets, observing how price interacts with these levels can offer insights into possible breakouts or trend reversals.
### Example Use Case:
For instance, if BankNifty is trading around 51,130, you can set this as the starting price. With 50-point intervals and a range of 1,000 points, the indicator will plot lines at 50-point increments both above and below 51,130, covering a total range of 2,000 points. This setup provides clear visual cues for potential price reaction zones as the asset moves through different price levels.
This indicator is a simple yet powerful addition to any trader’s toolkit, offering a structured approach to analyzing price levels and making informed trading decisions.
Valid Pullbacks and Trend by kpt. GonzoThis script helps identify valid pullbacks. Based on the marked pullbacks, it can draw both internal and external structure trendlines.
A pullback is marked with a small triangle above or below the candle that created the local high or low.
A new local high is marked with a red triangle above the candle if at least one subsequent candle has a low lower than the low of the candle that created the new local high.
A new local low is marked with a green triangle below the candle if at least one subsequent candle has a high higher than the high of the candle that created the new local low.
Based on the marked local highs and lows, the internal structure trendline is created by simply connecting all highs and lows with a line.
The external structure is drawn in a similar way, but only highs and lows that have broken the previous structure are connected. This helps focus on important pivots and better understand the market structure.
Standard and Camarilla pivotsHi guys, I would like too introduce to all of you my script. As the name already tell you what this script is all about. It's about pivot points.
You may ask, Tradingview already have a script for pivot points, why would I need another script?
here is the answer: This script allow you to add more than one type of pivot, sounds good right?
But there's more: You can see not just one timeframe pivots, you can see many timeframe pivots, nice huh?
let dive into it to know a bit more.
In this script you can see daily pivots include Standard pivots as R1, R2, R3 and Camarilla pivots as cR1, cR2, cR3, and I you different color for different pivots, so you don't confuse between those two.
You can see weekly pivots the same as daily pivots only has letter "w" in front of it, for examples: "wR1, wR2, wcR1, wcR2" ,nice right?
What's about month level: yes, you can see monthly pivots too, and it start with "m".
Along with pivots points above, you also can see daily open, previous day close, previous high,.., for instances: daily open as "O", previous day open as "PDO",
You are able to see previous week level, previous month levels.
have fun.
I dont wanna lock this script because open-source script help me learn how to code pine script, so that's why I keep it open. Thank to all the coders out there that shared everything they have for us to learn.
5-0 Harmonic Pattern [TradingFinder] 0XABCD 50 Harmonic Detector🔵 Introduction
Harmonic patterns are a powerful tool in technical analysis, widely used to detect reversal points and trend changes. Among these, the 5-0 Harmonic Pattern stands out due to its reliance on specific Fibonacci ratios—1.13, 1.618, 2.24, and 0.45 to 0.55—anchored at points 0, X, A, B, C, and D. This pattern provides a structured approach for identifying critical buy and sell points, helping traders achieve optimal entry and exit levels in volatile markets.
This 5-0 Harmonic Pattern indicator automatically detects and marks bullish and bearish formations on the chart, offering precise trading signals based on established harmonic ratios. With its dynamic signals, the 5-0 pattern enables traders to anticipate market movements and capitalize on favorable price trends.
Especially in fast-moving markets, harmonic patterns, particularly the 5-0 Harmonic Pattern, equip traders with an essential framework for identifying reversal opportunities and refining their trading strategies.
Bullish 5-0 Pattern :
Bearish 5-0 Pattern :
🔵 How to Use
The 5-0 Harmonic Pattern indicator is designed to automatically mark the key levels of the harmonic structure: 0, X, A, B, C, and D. By doing so, it detects both bullish and bearish patterns and helps traders recognize optimal entry and exit points.
Formed through specific Fibonacci levels, this pattern signals potential shifts in trend direction, giving traders critical insights for managing entries and exits effectively. The tool proves valuable in high-volatility settings, enabling traders to leverage these signals for refined decision-making.
🟣 Bullish 5-0 Pattern
A bullish 5-0 pattern materializes when Fibonacci levels indicate a potential price reversal to the upside. With points 0, X, A, B, C, and D in alignment, the indicator highlights this upward momentum by displaying a green arrow as a buy signal on the chart. This marking provides a clear entry point, indicating that prices are likely to rise, making it a prime moment for traders to enter long positions.
Additionally, the bullish 5-0 pattern is equipped with tools for traders to set stop-loss and take-profit points based on harmonic lines within the pattern, which represent support and resistance levels. Using these dynamic points, traders can create a more effective risk-reward setup while following the bullish signals in a standalone harmonic strategy.
🟣 Bearish 5-0 Pattern
The bearish 5-0 pattern functions similarly but signals a likely downturn. This pattern emerges when Fibonacci ratios align at points 0, X, A, B, C, and D, predicting a reversal downward. The indicator generates a sell signal, marked by a red arrow, prompting traders to exit long positions or initiate short trades to capitalize on falling prices.
Traders can utilize this bearish pattern for defining exit strategies and setting key levels for stop-loss and take-profit orders. The bearish 5-0 pattern enhances traders’ abilities to gauge critical price levels and manage trade risk effectively, especially in volatile markets. For traders focused on profiting from downward trends, this indicator serves as a powerful tool for timely entries and exits.
🔵 Setting
🟣 Logical Setting
ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition.
Show Valid Forma t: If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern.
Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk.
Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period.
🟣 Genaral Setting
Show : Enter "On" to display the template and "Off" to not display the template.
Color : Enter the desired color to draw the pattern in this parameter.
LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness.
LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries.
🟣 Alert Setting
Alert : On / Off
Message Frequency : This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone : The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
Conclusion
The 5-0 Harmonic Pattern indicator serves as a robust solution for technical analysts and traders looking to pinpoint market reversal points. By automatically recognizing 5-0 patterns and generating buy and sell signals based on Fibonacci ratios, this tool supports precise trend analysis and entry/exit timing. The indicator’s adjustable alerts, color themes, and pattern toggles allow for comprehensive customization, ensuring alignment with individual trading strategies.
Harmonic patterns, especially the 5-0 Harmonic Pattern, guide traders in identifying high-accuracy entry and exit points, thus aiding in more informed trading decisions. By combining Fibonacci ratio analysis with real-time signal updates, this indicator provides a well-rounded approach for risk management and capitalizing on trading opportunities. Professional traders can harness this tool to enhance technical analysis precision and capitalize on price trends effectively, maximizing profitability in both bullish and bearish markets.
[Spinn] LeveragesThis indicator is designed to visually measure the levels of the position at different leverage values. It acts as a "ruler", the level of levels at which it can cause liquidation, which helps the trader estimate whether it is gradually risky to use this or that leverage.
The indicator works in two modes:
Basic mode:
Levels of prescriptions for standard leverage values (1x, 2x, 5x, etc.), allowing you to quickly assess the risk of consequences when using these coefficients.
Pivots mode:
Levels are built on the basis of local extremes (pivots) on the visible section of the chart, tied to key reversal points.
The pivot is determined by the number of bars to the left and right of it, which is set as a source (the number of bars to the right of each specific roller does not matter).
In this mode, levels will be shown only for the visible part of the chart.
Color marking: green indicates liquidation levels for longs, red - for shorts. Each approach corresponds to a price tag for ease of use.
It is important to note that the indicator uses pure coefficients, without taking into account exchange commissions and other adjustments. Therefore, the calculated levels may not coincide with the actual liquidation levels on the exchanges.
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Данный индикатор предназначен для визуальной оценки уровней ликвидации позиций при разных значениях плеча. Он выступает в роли «линейки», показывая уровни, на которых может произойти ликвидация, что помогает трейдеру прикинуть, насколько рискованно использовать то или иное плечо.
Индикатор работает в двух режимах:
Режим Basic (базовый):
Уровни привязаны к стандартным значениям плеча (1x, 2x, 5x и т. д.), позволяя быстро оценить риск ликвидации при использовании этих коэффициентов.
Режим Pivots (пивотный):
Уровни строятся на основе локальных экстремумов (пивотов) на видимом участке графика, привязываясь к ключевым точкам разворота.
Пивот определяется по количеству баров слева и справа от него, что задается в настройках (количество баров справа от пивота особой роли не играет).
В этом режиме будут показаны уровни только для видимой части графика.
Цветовая маркировка: зелёным обозначены уровни ликвидаций лонгов, красным — шортов. Каждому уровню соответствует метка с ценой для удобства работы.
Важно отметить, что индикатор использует чистые коэффициенты, без учета комиссий бирж и других поправок. Поэтому рассчитанные уровни могут не совпадать с фактическими уровнями ликвидации на биржах.
Swing Breakout Sequence [LuxAlgo]The Swing Breakout Sequence tool enables traders to identify a directional price action scalping sequence comprising two unsuccessful breakouts in the same direction, with the expectation of a third.
🔶 USAGE
This sequence looks for pressure on one side of a swing zone.
The market tried to break out of the zone twice but failed. This led to a pullback into the zone after each attempt. Once a reversal inside the zone is identified, the sequence is complete. It is expected that the market will move from the final reversal within the zone to the final breakout attempt outside the zone.
The sequence of price action is as follows:
Point 1: Breakout attempt out of the swing zone
Point 2: Pullback into the zone
Point 3: Breakout attempt out of Point 1
Point 4: Pullback into the zone, tapping into Point 2 liquidity
Point 5: Reversal structure with Point 4 in the form of a double top or double bottom
This sequence assumes traders will be caught off-guard when they try to capitalize on the initial breakout at Point 1, which is likely to result in a loss. If the breakout at Point 3 fails, all traders will be caught out and switch positions.
If there is enough pressure in the swing zone to cause a reversal at Point 5, the trapped traders could be the start of the next breakout attempt.
🔹 Sequence Detection
Traders can define sequence behavior and adjust detection with three parameters from the Settings panel.
Disabling Points 4 and 5 will detect the most uncompleted sequences.
🔹 Showing/Hiding Elements
Traders can change the look of sequences by showing or hiding their parts using the Style settings.
🔶 SETTINGS
Swing Length: Number of candles to confirm a swing high or swing low. A higher number detects larger swings.
Internal Length: Number of candles to confirm a internal high or internal low. A lower number detects smaller swings. It must be the same size or smaller than the swing length.
🔹 Detection
Point 4 Beyond Point 2: It only detects sequences where Point 4 is beyond Point 2.
Show Point 5: Enable/disable Point 5 detection.
Require Equal H/L at Point 5: Enable/Disable double top/bottom detection at Point 5 within a given threshold. A bigger value detects more sequences.
🔹 Style
Show Sequence Path: Enable/disable a line between sequence points.
Show Boxes: Enable/disable colored boxes for each sequence.
Show Lines: Enable/disable horizontal lines from each point of the sequence.
Default Color: Define the color or enable/disable auto color.
Pivot Bollinger BandThis is a special kind of Bollinger Bands indicator that adapts to the market's pivot points. Instead of using regular price data, it first finds important swing highs and lows in the market (called pivot points). It then uses these pivot points to create a center line, which is like a moving average of where the market is pivoting.
Around this center line, it draws the classic Bollinger Bands - an upper and lower band that show where prices might find resistance or support. The distance between these bands changes based on market volatility, just like regular Bollinger Bands. You can adjust how sensitive it is to pivot points and how wide the bands should be.
By using pivot point based Bollinger Bands, we expect band breakout can be captured more effectively.
CPR by NKDCentral Pivot Range (CPR) Trading Strategy:
The Central Pivot Range (CPR) is a widely-used tool in technical analysis, helping traders pinpoint potential support and resistance levels in the market. By using the CPR effectively, traders can better gauge market trends and determine favorable entry and exit points. This guide explores how the CPR works, outlines its calculation, and describes how traders can enhance their strategies using an extended 10-line version of CPR.
What Really Central Pivot Range (CPR) is?
At its core, the CPR consists of three key lines:
Pivot Point (PP) – The central line, calculated as the average of the previous day’s high, low, and closing prices.
Upper Range (R1) – Positioned above the Pivot Point, acting as a potential ceiling where price may face resistance.
Lower Range (S1) – Found below the Pivot Point, serving as a potential floor where price might find support.
Advanced traders often expand on the traditional three-line CPR by adding extra levels above and below the pivot, creating up to a 10-line system. This extended CPR allows for a more nuanced understanding of the market and helps identify more detailed trading opportunities.
Applying CPR for Trading Success
1. How CPR is Calculation
The CPR relies on the previous day's high (H), low (L), and close (C) prices to create its structure:
Pivot Point (PP) = (H + L + C) / 3
First Resistance (R1) = (2 * PP) - L
First Support (S1) = (2 * PP) - H
Additional resistance levels (R2, R3) and support levels (S2, S3) are calculated by adding or subtracting multiples of the previous day’s price range (H - L) from the Pivot Point.
2. Recognizing the Market Trend
To effectively trade using CPR, it’s essential to first determine whether the market is trending up (bullish) or down (bearish). In an upward-trending market, traders focus on buying at support levels, while in a downward market, they look to sell near resistance.
3. Finding Ideal Entry Points
Traders often look to enter trades when price approaches key levels within the CPR range. Support levels (S1, S2) offer buying opportunities, while resistance levels (R1, R2) provide selling opportunities. These points are considered potential reversal zones, where price may bounce or reverse direction.
4. Managing Risk with Stop-Loss Orders
Proper risk management is crucial in any trading strategy. A stop-loss should be set slightly beyond the support level for buy positions and above the resistance level for sell positions, ensuring that losses are contained if the market moves against the trader’s position.
5. Determining Profit Targets
Profit targets are typically set based on the distance between entry points and the next support or resistance level. Many traders apply a risk-reward ratio, aiming for larger potential profits compared to the potential losses. However, if the next resistance and support level is far then middle levels are used for targets (i.e. 50% of R1 and R2)
6. Confirmation Through Other Indicators
While CPR provides strong support and resistance levels, traders often use additional indicators to confirm potential trade setups. Indicators such as moving averages can
help validate the signals provided by the CPR.
7. Monitoring Price Action At CPR Levels
Constantly monitoring price movement near CPR levels is essential. If the price fails to break through a resistance level (R1) or holds firm at support (S1), it can offer cues on when to exit or adjust a trade. However, a strong price break past these levels often signals a continued trend.
8. Trading Breakouts with CPR
When the price breaks above resistance or below support with strong momentum, it may signal a potential breakout. Traders can capitalize on these movements by entering positions in the direction of the breakout, ideally confirmed by volume or other technical indicators.
9. Adapting to Changing Market Conditions
CPR should be used in the context of broader market influences, such as economic reports, news events, or geopolitical shifts. These factors can dramatically affect market direction and how price reacts to CPR levels, making it important to stay informed about external market conditions.
10. Practice and Backtesting for Improvements
Like any trading tool, the CPR requires practice. Traders are encouraged to backtest their strategies on historical price data to get a better sense of how CPR works in different market environments. Continuous analysis and practice help improve decision-making and strategy refinement.
The Advantages of Using a 10-Line CPR System
An extended 10-line CPR system—comprising up to five resistance and five support levels—provides more granular control and insight into market movements. This expanded view helps traders better gauge trends and identify more opportunities for entry and exit. Key benefits include:
R2, S2 Levels: These act as secondary resistance or support zones, giving traders additional opportunities to refine their trade entries and exits.
R3, S3 Levels: Provide an even wider range for identifying reversals or trend continuations in more volatile markets.
Flexibility: The broader range of levels allows traders to adapt to changing market conditions and make more precise decisions based on market momentum.
So in Essential:
The Central Pivot Range is a valuable tool for traders looking to identify critical price levels in the market. By providing a clear framework for identifying potential support and resistance zones, it helps traders make informed decisions about entering and exiting trades. However, it’s important to combine CPR with sound risk management and additional confirmation through other technical indicators for the best results.
Although no trading tool guarantees success, the CPR, when used effectively and combined with practice, can significantly enhance a trader’s ability to navigate market fluctuations.
Central Pivot Point Cross & Retrace Strategy // AlgoFyreThe Central Pivot Point Cross & Retrace Strategy uses pivot points for trend identification and trade entry. It combines accumulation/distribution indicators with pivot point levels to generate signals. The strategy incorporates dynamic position sizing based on a fixed risk amount and allows for both long and short positions with customizable stop-loss levels.
TABLE OF CONTENTS
🔶 ORIGINALITY
🔸Pivot Point-Based Trading
🔸Accumulation/Distribution
🔸Dynamic Position Sizing
🔸Customizable Risk Management
🔶 FUNCTIONALITY
🔸Indicators
🞘 Pivot Points
🞘 Accumulation/Distribution
🔸Conditions
🞘 Long Entry
🞘 Short Entry
🞘 Take Profit
🞘 Stop Loss
🔶 INSTRUCTIONS
🔸Adding the Strategy to the Chart
🔸Configuring the Strategy
🔸Backtesting and Practice
🔸Market Awareness
🔸Visual Customization
🔶 CONCLUSION
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🔶 ORIGINALITY The Central Pivot Point Cross & Retrace Strategy uniquely combines pivot point analysis with accumulation/distribution indicators to identify optimal entry and exit points. It employs dynamic position sizing based on a fixed risk amount, ensuring consistent risk management across trades. This approach allows traders to adapt to varying market conditions by adjusting position sizes according to predefined risk parameters, enhancing both flexibility and control in trading decisions. The strategy's integration of customizable stop-loss levels further refines its risk management capabilities.
🔸Pivot Point-Based Trading This strategy utilizes daily pivot points to identify key support and resistance levels, providing a framework for trend identification and trade entry. The central pivot point serves as the intraday point of balance between buyers and sellers, with the largest amount of trading volume assumed to take place in this area.
🔸Accumulation/Distribution The strategy incorporates the Accumulation/Distribution (A/D) line, an underrated volume-based indicator, to establish the main trend. The A/D line is used in conjunction with a trend based indicator like the 200-period Exponential Moving Average (EMA) to confirm trend direction and strength.
🔸Dynamic Position Sizing Position sizes are calculated dynamically based on a fixed risk amount, allowing traders to maintain consistent risk exposure across trades.
🔸Customizable Risk Management Traders can set flexible risk-reward ratios and adjust stop-loss and take-profit levels, tailoring the strategy to their risk tolerance and market conditions. The strategy recommends taking partial profits at S1 or R1 levels and moving the stop-loss to break-even for remaining positions.
🔶 FUNCTIONALITY The Central Pivot Point Cross & Retrace Strategy leverages pivot points and accumulation/distribution indicators to identify optimal trading opportunities. This strategy is designed to capitalize on price movements around key pivot levels by dynamically adjusting position sizes based on predefined risk parameters. It allows traders to manage risk effectively while taking advantage of both long and short positions.
🔸Indicators 🞘 Pivot Points: Calculates daily pivot points (PP, R1, R2, S1, S2) to identify key support and resistance levels. The central pivot point is crucial for determining market bias and entry points.
🞘 Accumulation/Distribution: Uses the A/D line and with a trend based indicator like the 200 EMA to determine market direction and trend strength. This combination helps eliminate noise and provides more reliable trend signals. We recommend using the Adaptive MAs (Hurst, CVaR, Fractal) // AlgoFyre , but any moving average could be used.
🔸Conditions 🞘 Long Entry: Initiates a long position when the price crosses above the central pivot point (PP), retraces back to it and the A/D line is above its 200 EMA, indicating an uptrend. A limit entry order is set at the PP for entering the long trade.
🞘 Short Entry: Initiates a short position when the price crosses below the central pivot point (PP), retraces back to it and the A/D line is below its 200 EMA, indicating a downtrend. A limit entry order is set at the PP for entering the short trade.
🞘 Take Profit: 50% of the position is closed as profit when R1 for Longs and S1 for Shorts is reached. The position is fully closed when R2 for Longs and S2 for Shorts is reached.
🞘 Stop Loss: Stop loss is set via strategy settings. When the first 50% take profit for both long and shorts is taken, stop loss for both will be moved to break-even/entry.
🔶 INSTRUCTIONS
The Central Pivot Point Cross & Retrace Strategy can be set up by adding it to your TradingView chart and configuring parameters such as the accumulation/distribution source, stop-loss percentage, and risk management settings. This strategy is designed to capitalize on price movements around key pivot levels by dynamically adjusting position sizes based on predefined risk parameters. Enhance the accuracy of signals by combining this strategy with additional indicators like trend-following or momentum-based tools. Adjust settings to better manage risk and optimize entry and exit points.
🔸Adding the Strategy to the Chart Go to your TradingView chart.
Click on the "Pine Editor" button at the bottom of the chart.
Copy and paste the strategy code into the Pine Editor.
Click "Add to Chart" to apply the strategy.
Add the technical indicator "Accumulation/Distribution" to the chart.
Add the trend indicator " Adaptive MAs (Hurst, CVaR, Fractal) // AlgoFyre " or any other MA to the chart and move it to the "Accumulation/Distribution" pane.
Set the source of your trend indicator to "Accumulation/Distribution".
🔸Configuring the Strategy Open the strategy settings by clicking on the gear icon next to its name on the chart.
Accumulation/Distribution Source: Select the source for the accumulation/distribution indicator.
Accumulation/Distribution EMA Source: Select the source for the trend indicator.
Stop Loss Percentage: Set the stop loss distance from the pivot point as a percentage.
Risk Amount: Define the fixed risk amount for position sizing.
Base Order Size: Set the base order size for position calculations.
Number of Positions: Specify the maximum number of positions allowed.
Time Frame: Adjust the time frame based on the currency pair or asset being traded (e.g., 15-minute for EUR/USD, 30-minute for GBP/USD).
🔸Backtesting and Practice Backtest the strategy on historical data to understand how it performs in various market environments.
Practice using the strategy on a demo account before implementing it in live trading.
Test different time frames and asset pairs to find the most suitable combinations.
🔸Market Awareness Keep an eye on market news and events that might cause extreme price movements. The strategy reacts to price data and might not account for news-driven events that can cause large deviations.
Remember that this strategy is not recommended for stocks due to the A/D line's inability to account for gaps in its calculation.
🔸Visual Customization Visualization Settings: Customize the display of entry price, take profit, and stop loss levels.
Color Settings: Switch to the AlgoFyre theme or set custom colors for bullish, bearish, and neutral states.
Table Settings: Enable or disable the information table and adjust its position.
🔶 CONCLUSION
The Central Pivot Point Cross & Retrace Strategy provides a robust framework for capitalizing on price movements around key pivot levels by combining pivot point analysis with accumulation/distribution indicators. This strategy leverages pivot point crossovers to identify entry points and utilizes the A/D line crossover with its 200 EMA for trend confirmation, ensuring trades align with prevailing market conditions. By incorporating dynamic position sizing based on a fixed risk amount, traders can effectively manage risk and adapt to varying market conditions. The strategy's focus on trading around the central pivot point and its customizable stop-loss and take-profit levels further enhance its risk management capabilities, making it a versatile tool for both trending and ranging markets. With its strategic blend of technical indicators and risk management, the Central Pivot Point Cross & Retrace Strategy offers traders a comprehensive approach to optimizing trade execution and maximizing potential returns across various currency pairs and commodities.
Weekly Initial BalanceWeekly Initial Balance Indicator
The Weekly Initial Balance (IB) indicator is a powerful tool designed for traders to identify key support and resistance levels based on the market's initial activity at the start of each week. By analyzing the first 30 hours of trading.
Key Features:
Customizable IB Period: Define the start hour and duration of the initial balance period to suit your trading schedule and the specific market you are analyzing, I have it set at 30 hours by default.
IB High, Low, and Midpoint Levels: Automatically plots the high, low, and midpoint of the IB period, providing immediate visual reference to critical price levels.
Extension Levels: Calculate and display extension levels based on customizable percentages (e.g., 50%, 100%, 150%), allowing you to project potential breakout targets and identify areas of interest beyond the initial balance range.
Dynamic Lines and Labels: The indicator updates in real-time, extending lines and repositioning labels as new bars form, ensuring you always have the most current information.
Customizable Appearance: Adjust line styles, widths, colors, and label positions to match your charting preferences and improve visual clarity.
How to Use:
Set the IB Parameters:
Week Start Hour (UTC): Specify the hour when the weekly IB period begins. I use 1800EST as that is when the futures market opens.
IB Duration in Hours: Define how many hours constitute the IB period.
Configure Extension Levels:
Input the desired extension percentages to calculate levels beyond the IB range.
Customize Visual Settings:
Adjust line colors, styles, widths, and label offsets to tailor the indicator's appearance.
Interpret the Levels:
Use the IB high and low as immediate support and resistance levels.
Monitor the midpoint for potential pivot areas.
Watch for price interactions with extension levels to anticipate breakouts or reversals.
Benefits:
Identify Key Weekly Levels: Understand the market's initial sentiment each week to gauge potential trends.
Enhance Trading Strategies: Incorporate the IB levels into your trading plan for better entry and exit points.
Adaptable to Various Markets: Suitable for Forex, commodities, indices, and other markets where weekly analysis is beneficial.
[MAD] Fibonacci Bands with SmoothingHi, this is just an easy script, nothing special, it was a request from a community member and was finished in just 40 minutes :D
This indicator offers a approach to tracking market price movements by utilizing Fibonacci-based levels combined with customizable smoothing options for both the bands and the high/low values.
Key Features:
Customizable Moving Averages: Choose from a variety of smoothing methods, including SMA, EMA, WMA, HMA, VWMA, and advanced Ehlers-based methods.
This allows for flexible adaptation to different assets.
Multiple Fibonacci Band Multipliers: The user can define six different multipliers for both the upper and lower Fibonacci bands, allowing for granular customization of the indicator. The middle line serves as the central reference, and the multipliers extend the bands outward based on price range dynamics.
High/Low Smoothing: In addition to smoothing the Fibonacci bands, users can apply smoothing to the high and low prices that form the basis for calculating the Fibonacci bands. This ensures that the indicator responds smoothly to market movements, reducing noise while capturing key trends.
Forward Shift Option: Allows for projecting the bands into the future by shifting the calculated levels forward by a user-specified number of periods. This feature is particularly useful for those interested in anticipating price actions and future trends.
Visual Enhancements: The indicator features filled regions between bands to clearly visualize the zones of price movement. The fills between the bands offer insight into potential support and resistance zones, based on price levels defined by the Fibonacci ratios.
How It Works:
The indicator uses the highest and lowest closing prices over a specified lookback period to establish a price range. Based on this range, it calculates the middle line (0.5 level) and applies user-defined Fibonacci multipliers to generate both upper and lower bands. Users have control over the smoothing method for both the high/low prices and the bands themselves, allowing for an adaptive experience that can be tailored to different timeframes or market conditions.
For visualization, areas between the upper and lower bands are filled with distinct colors, providing an intuitive view of the potential price zones where the market might react or consolidate.
These fills highlight the zones created by the Fibonacci bands, helping users identify critical market levels with ease.
have fun
p.s.: @frankchef hope that suits your needs & expectations ;-)
Directional Targets & POC TableThe "Directional Targets & POC Table" Pine Script™ is a comprehensive tool designed to help traders identify directional bias, potential price targets, and important levels like the Point of Control (POC). Additionally, it detects fair value gaps (FVGs) and order blocks, which are crucial concepts in Smart Money Concepts (SMC) trading. Here's an overview of its functionality:
1. Indicator Overview:
The script combines multiple technical tools into a single visual aid:
Directional Targets: Fibonacci-based upper and lower targets that provide a forecast of where the price might move.
Point of Control (POC): Midpoint of the daily range, displayed visually on the chart.
Fair Value Gaps (FVGs): Areas of imbalance in the market, potentially leading to price reversals.
Order Blocks: Areas where institutional traders might have entered large positions, potentially serving as support or resistance.
2. Key Features:
Directional Targets & POC Table:
A table is displayed in the top-right corner of the chart, showing:
Direction: Based on whether the price is above or below the POC.
Target ↑: The upper target, calculated using Fibonacci's 0.618 level, which acts as a potential resistance.
POC: The midpoint between the daily high and low, serving as the central level of interest.
Target ↓: The lower target, also calculated using the 0.618 Fibonacci level, which serves as potential support.
The table uses colors to make each level easily distinguishable, with green for bullish targets, red for bearish, and yellow for the POC.
POC Visualization:
The Point of Control (POC) is drawn on the chart as a box that stretches horizontally. It highlights the central price range where the highest volume or interest may have occurred, providing a key level for traders to watch.
The POC can act as a support or resistance area, with price frequently reacting at or near this level.
FVG Detection:
Fair Value Gaps are identified when there’s a price imbalance between two bars. These gaps occur when the high of one bar is lower than the low of a bar two periods earlier, or vice versa.
The script draws lines at the boundaries of these gaps, helping traders spot potential areas where the price may return to fill the gap.
If the price revisits and fills the gap, the FVG lines are automatically deleted, signaling the gap is no longer relevant.
Order Blocks Detection:
Bullish Order Blocks are detected when a strong bullish candle forms, where the close equals the high, and it’s higher than the previous bar’s low. This represents potential institutional buying interest.
Bearish Order Blocks are detected when a strong bearish candle forms, where the close equals the low, and it’s lower than the previous bar’s high, representing potential selling interest.
The order blocks are drawn as rectangles on the chart, marking significant price zones that may act as future support (bullish) or resistance (bearish).
3. Direction Determination:
The script calculates the daily high, low, and mid-point (POC). If the current price is above the POC, the market is deemed bullish; if it’s below, the market is bearish. If it’s near the POC, the market is considered neutral.
This directional bias is then displayed in the table, giving traders an easy way to assess whether they should be looking for long or short opportunities.
4. Use Case:
This script is particularly useful for traders who:
Want to identify key levels like the POC and potential price targets based on Fibonacci retracement.
Follow Smart Money Concepts (SMC) and need tools to detect FVGs and order blocks, which can signal areas of market imbalance or institutional involvement.
Need a simple visual aid to determine market direction and structure, helping them make informed trading decisions.
5. Additional Features:
The script is highly visual, providing both numeric information in a table and plotted elements (lines, boxes) directly on the chart.
The automatic detection and clearing of FVGs and order blocks make this tool dynamic and easy to follow.
The script helps identify areas where price might react, giving traders a roadmap to follow for potential entries, exits, or take-profit levels.
This indicator is designed for traders looking to incorporate both conventional and advanced concepts like Fibonacci targets, POC, and SMC principles (FVGs and Order Blocks) into their strategy.
SMC Liquidity ZonesThis script implements a "Smart Money Concept (SMC) Liquidity Zones" indicator in Pine Script™ for TradingView. It helps identify key liquidity zones, detect potential order blocks, and highlight market structure breaks. The script is designed for traders who use liquidity concepts and order blocks to make informed trading decisions based on price action.
1. Indicator Overview:
The "SMC Liquidity Zones" indicator plots areas of high and low liquidity and detects potential order blocks after price breaks these zones. It also highlights market structure shifts when price moves past the liquidity zones, allowing traders to identify potential areas of price reversal or continuation.
2. Key Features:
Liquidity Zones:
Liquidity zones are regions where price is likely to experience strong reactions due to resting orders (buy or sell).
The script identifies these zones by looking for pivot highs and pivot lows using a customizable lookback period.
High Liquidity Zone: Found at pivot highs, indicating a potential zone of sell-side liquidity (where sellers may overwhelm buyers).
Low Liquidity Zone: Found at pivot lows, indicating a potential buy-side liquidity zone (where buyers may absorb selling pressure).
Order Blocks Detection:
After a liquidity zone is broken, the script marks an order block.
Order Block: An area where institutional traders (smart money) might have placed large orders, and price is expected to return to this area for liquidity.
When the price closes above the high liquidity zone, the previous high is assumed to form the order block high, while the closing price forms the order block low.
Similarly, when price closes below the low liquidity zone, the previous low is assumed to form the order block low, and the closing price forms the order block high.
Market Structure Breaks:
Bullish Market Structure Break: Occurs when price closes above the high liquidity zone, potentially signaling an upward trend.
Bearish Market Structure Break: Occurs when price closes below the low liquidity zone, signaling a potential downward trend.
The script highlights these breaks by changing the chart’s background color to green for bullish structure and red for bearish structure.
Customizable Settings:
Pivot Lookback Period: You can set the lookback period to adjust how the indicator identifies pivot highs and lows.
Visibility of Liquidity Zones and Order Blocks: The script provides options to toggle the display of liquidity zones and order blocks on or off, allowing traders to customize the chart view.
3. Code Structure:
Liquidity Zones Identification:
The script uses the ta.pivothigh() and ta.pivotlow() functions to detect pivot points over a customizable lookback period.
These pivots mark significant areas of price where liquidity might rest, and the zones are displayed using dashed lines—red for high liquidity and green for low liquidity.
Order Block Logic:
When price breaks through a liquidity zone (either above or below), the script marks an order block. This block is a potential area where price could return, creating opportunities for entries or exits.
The order block is visualized as a blue box on the chart, indicating areas where smart money may have positioned their orders.
Market Structure Break Highlights:
The background color changes based on whether the market has broken into a bullish or bearish structure:
Bullish Market Structure: Green background.
Bearish Market Structure: Red background.
This visual cue helps traders quickly assess market sentiment and potential future price direction.
4. Use Case:
This indicator is particularly suited for traders following Smart Money Concepts (SMC), liquidity-based trading, or order block strategies. It helps them:
Identify potential price reaction zones (liquidity zones).
Spot order blocks, which are areas where institutional traders are likely to have placed large orders.
Recognize market structure shifts, signaling potential trend reversals or continuations.
Highlight trading opportunities based on liquidity breaks and market structure changes.
TradeTale Targets & SLIts a Leading Indicator. This script explains how 'Pivot Points' along with 'Fibonacci' & 'VWAP' can be used to catch a trend.
Volume Weighted Average Price (VWAP):-
VWAP stands for Volume-Weighted Average Price, which is a tool that shows the average price of a security over a period of time, adjusted for trading volume.
VWAP = (Cumulative (Price * Volume) ÷ (Cumulative Volume)
Pivot Points:-
A pivot point is a price level calculated from previous prices. Pivot point is simply the average of the previous days high and low and the closing price which shows potential areas of support or resistance. Trading above the pivot point on the subsequent day is thought to indicate ongoing bullish sentiment and Trading below the pivot point indicates bearish sentiment. It lets the trader know that the price is trending in that direction if the price moves through these levels. Day traders calculate pivot points to determine levels of entry, stoploss and take profits.
Fibonacci:-
Fibonacci is based on the key numbers identified by mathematician Leonardo Pisano, nicknamed Fibonacci, in the 13th century. Fibonacci's sequence of numbers is not as important as the mathematical relationships, expressed as ratios, between the numbers in the series. A Fibonacci retracement is created by taking two extreme points on a stock chart and dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% etc. Once these levels are identified, horizontal lines are drawn and used to identify possible support and resistance levels, place stoploss and set targets.
Logic of this indicator:-
Pivot Points are used as Entry level and Stoploss.
Fibonacci Ratios are used as Targets.
VWAP can be used to see the Trend. (Price above VWAP is Bullish Trend & Price below VWAP is Bearish Trend)
How to use:-
Long when price is above "VWAP".
Short when price is below "VWAP".
Long & Short Levels along with Targets & Stoploss appears as horizontal lines.
Chart Timeframe:-
This Indicator works on all timeframes below "1 day" timeframe.
Traders can also set stop loss and take profit levels as per risk reward ratio.
Note:-
Like other technical indicators, This indicator also is not a holy grail. It can only assist you in building a good strategy. You can only succeed with proper position sizing, risk management and following correct trading Psychology (No overtrade, No greed, No revenge trade etc).
THIS INDICATOR IS FOR EDUCATIONAL PURPOSE AND PAPER TRADING ONLY. YOU MAY PAPER TRADE TO GAIN CONFIDENCE AND BUILD FURTHER ON THESE. PLEASE CONSULT YOUR FINANCIAL ADVISOR BEFORE INVESTING. WE ARE NOT SEBI REGISTERED.
Hope you all like it
happy learning.
Pivot Volume ConfluenceThe Pivot Volume Confluence indicator is designed to help traders identify significant pivot points (local highs and lows) that are accompanied by increased trading volume. This combination can signal important market turning points and provides valuable insights into potential support and resistance areas.
Key Features:
• Pivot Point Identification: Automatically detects local highs and lows on the chart based on a customizable pivot length.
• Volume Analysis: Compares the volume at the pivot point with the average volume of the last N bars to recognize significant volume spikes.
• Timeframe-Based Adjustment: Automatically adjusts the indicator parameters according to the current timeframe for optimal performance across different timeframes.
• Custom Settings: Allows you to set your own values for pivot length and volume multiplier to tailor the indicator to your trading strategy.
• Visual Markers: Clearly highlights significant pivot points with high volume using colored symbols on the chart.
• Alerts: Integrates alert functionalities to notify you when important pivot points are detected.
Settings:
• Use Custom Settings: Enable this option to use your own parameters instead of automatic adjustments.
• Custom Pivot Length: Set the number of bars to be used for determining pivot points.
• Custom Volume Multiplier: Define the factor by which the average volume is multiplied to set the threshold for significant volume.
• Show Settings in Chart: Displays the current indicator settings directly on the chart.
How to Use the Indicator:
1. Add to Chart:
• Add the “Pivot Volume Confluence” indicator to your desired financial instrument.
2. Adjust Settings:
• Adjust the settings according to your needs or use the preset default values.
• Enable “Use Custom Settings” to input your own values for pivot length and volume multiplier.
3. Interpret the Signals:
• Red downward triangles mark pivot highs with significantly high volume and may indicate potential downward reversal points.
• Green upward triangles mark pivot lows with significantly high volume and may indicate potential upward reversal points.
• Use these markers to identify entry and exit points or to confirm existing trading positions.
4. Set Up Alerts:
• Set up alerts to be notified when a significant pivot point occurs.
• This allows you to react promptly to market movements without having to monitor the chart constantly.
Notes:
• Delay in Pivot Detection: Due to the calculation method, pivot points are recognized only after confirmation by subsequent bars. This leads to a natural delay that should be considered when interpreting the signals.
• Adjusting the Volume Multiplier: A lower multiplier will result in more signals, while a higher multiplier will highlight only the most significant volume spikes.
• Compatibility: The indicator is universally applicable and suitable for various markets such as stocks, forex, commodities, and cryptocurrencies.
• Performance: Using very short timeframes or having many charts open simultaneously may affect performance.
Benefits:
• Deep Market Analysis: By combining price and volume data, you gain a more comprehensive view of market activities.
• Flexibility: The ability to adjust settings allows you to fine-tune the indicator to your specific trading strategy.
• Notifications: With integrated alerts, you won’t miss important signals and can make timely trading decisions.
Disclaimer:
Please note that trading financial instruments involves risks and is not suitable for all investors. Past performance is not indicative of future results. Use this indicator as part of a comprehensive trading strategy and always conduct your own analysis.
Benito CL Levels by Melon
Code Summary:
The script plots horizontal lines at .00, .25, .50, and .75 increments around the current price on the chart. It calculates these levels by taking the integer base of the price and adding the specified increments. The user can customize the color, thickness, and style (solid, dashed, dotted) for each level individually. The script plots a specified number of lines above and below the current price, extending them across the chart to provide clear reference points for potential support and resistance levels.
Key Trading Insight:
Focus on the .00, .25, .50, and .75 levels. A failure to reclaim the .50 level often indicates a lack of momentum, leading to a potential breakdown towards the .00 or .25 levels. These levels serve as psychological or technical support and resistance points where price reactions are likely. Monitoring price action around these levels can provide useful signals for potential trend continuation or reversal.
Support and ResistanceThis indicator, titled "Support and Resistance," is designed to identify and display key price levels based on volume and pivot points. It's a versatile tool that can be adapted for different market views and timeframes.
Key Features
Market View Options
The indicator offers three market view settings:
Short term
Standard
Long term
These settings affect the lookback periods used in calculations, allowing users to adjust the indicator's sensitivity to market movements.
Volume-Based Levels
The indicator calculates support and resistance levels using a rolling Point of Control (POC) derived from volume data. This approach helps identify price levels where the most trading activity has occurred.
Pivot Points
In addition to volume-based levels, the indicator incorporates pivot points to identify potential support and resistance areas.
Customizable Appearance
Users can adjust:
Number of lines to display (1-8)
Colors for support and resistance levels
Line thickness based on level importance
Calculation Methods
Rolling POC
The indicator uses a custom function f_rolling_poc to calculate the rolling Point of Control. This function analyzes volume distribution across price levels within a specified lookback period.
Pivot Points
Both standard and quick pivot points are calculated using the rolling POC as input, rather than traditional price data.
Level Importance
The indicator assigns importance to each level based on:
Number of touches (how often price has interacted with the level)
Duration (how long the level has been relevant)
This importance score determines the thickness of the displayed lines.
Unique Aspects
Dynamic Line Thickness: Lines become thicker when levels overlap, highlighting potentially stronger support/resistance areas.
Adaptive Coloring: The color of each line changes dynamically based on whether the current price is above or below the level, indicating whether it's acting as support or resistance.
Flexible Time Frames: The market view options allow the indicator to be easily adapted for different trading styles and timeframes.
Potential Uses
This indicator could be valuable for:
Identifying key price levels for entry and exit points
Recognizing potential breakout or breakdown levels
Understanding the strength of support and resistance based on line thickness
Adapting analysis to different market conditions and timeframes
Overall, this "Support and Resistance" indicator offers a sophisticated approach to identifying key price levels, combining volume analysis with pivot points and providing visual cues for level importance and current market position.
This Support and Resistance indicator is provided for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any security. The indicator's calculations are based on historical data and may not accurately predict future market movements. Trading decisions should be made after thorough research and consultation with a licensed financial advisor. The creator of this indicator is not responsible for any losses incurred from its use. Past performance does not guarantee future results. Use at your own risk.
Absolute ZigZagThis ZigZag Indicator is a bit unique in it's kind.
It uses my own Absolute ZigZag Lib to calculate the pivots:
Instead of using percentages or looking more than 1 bar left or right, this Zigzag library calculates pivots by just looking at the current bar highs and lows and the ones of one bar earlier. This is a very fast and accurate way of calculating pivots.
The library also features a solution for bars that have both a higher high and a higher low like seen below.
You can also use your own colors for the labels and the lines:
You can also quickly select a one-colored theme without changing all colors at once:
Support Resistance DynamicsThe Support Resistance Dynamics indicator is an advanced technical analysis tool designed to identify and visualize key support and resistance levels in real-time. This innovative indicator stands out from traditional support and resistance tools by employing a dynamic approach that adapts to market conditions.
Key Features:
Dynamic Level Calculation: Unlike static support and resistance indicators, this tool continuously updates levels based on recent price action, providing traders with the most relevant and up-to-date information.
Logarithmic Scale Option: The indicator offers a unique logarithmic scale feature, essential for analyzing long-term trends or assets with significant price changes. This allows for more accurate level plotting across various timeframes and price ranges.
Customizable Display: Users can adjust the number of support and resistance lines displayed, allowing for a clean and uncluttered chart view while focusing on the most significant levels.
Adaptive Slope Calculation: The indicator uses an innovative approach to calculate the slope of support and resistance lines, offering options from dynamic adaptation to fixed long-term periods. This ensures the lines remain relevant in both trending and ranging markets.
Enhanced Visualization: With customizable line colors, styles, and transparency, traders can easily distinguish between support and resistance levels, improving chart readability and analysis.
Flexible Period Settings: From dynamic calculations based on recent pivots to fixed long-term periods, the indicator adapts to various trading styles and timeframes.
The Support Resistance Dynamics indicator is particularly useful for:
Identifying potential reversal points in trends
Setting more accurate entry and exit points for trades
Placing stop-loss orders with greater precision
Recognizing breakout levels for potential new trends
By combining dynamic calculation methods with customizable visual elements, this indicator provides traders with a powerful tool for market analysis. Whether you're a day trader looking for short-term opportunities or a long-term investor analyzing macro trends, the Support Resistance Dynamics indicator offers valuable insights to enhance your trading strategy.
This indicator is provided for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading involves significant risk of loss. Users should conduct their own research and due diligence before making any investment decisions. The creator of this indicator is not responsible for any losses incurred from its use. Always test thoroughly on demo accounts before applying to live trading.
[DarkTrader] Pivot Point HeatmapThe indicator calculates pivot points using price data from different timeframes such as 12M, 1M, 1W, 3D, and 1D. For each timeframe, it retrieves the high, low, open, and close prices of the previous bar. The pivot point is calculated as the average of the high, low, and close prices, which provides a central level where market sentiment may shift. This calculation is repeated for each timeframe, ensuring a multi-dimensional view of potential interest zones.
Importance of Pivot Points :
Pivot points are essential tools in technical analysis, providing traders with levels that act as potential support and resistance zones. These zones help identify price levels where reversals or breakouts are more likely to occur.
Visual Representation :
The core feature of this indicator is its ability to visualize pivot points as a heatmap on the chart. Instead of showing just the latest pivot points, it tracks the historical pivot swipe, providing a dynamic view of how price interacts with these key levels. Each pivot point is represented by a line, color-coded based on its position relative to other points, creating a gradient effect that highlights the most critical price areas.
Customization Options :
Traders can customize various aspects of the heatmap to suit their preferences. The indicator offers options to toggle pivot swipe history, enabling traders to either focus on the most recent price interactions or consider how price has behaved over time. The background color and pivot line colors are fully customizable, making it easy to match the heatmap with your chart's theme or emphasize certain price levels.
Detecting Sweeps and Price Interaction :
Another important feature is the detection of price interactions with pivot levels. If the current bar's high and low cross a pivot point, it signals that the pivot level has been "swept" by price action, potentially indicating a change in market sentiment. The indicator either extends the line if the pivot point remains relevant or deletes it if price has broken through. This dynamic adjustment helps traders stay updated on which pivot levels are still valid.
[DarkTrader] Past & Future LevelThis indicator plots key pivot levels for each trading day, helping you visualize significant price levels and their potential impact on future price action.
Displays five crucial pivot levels for the current day :
High Pivot: The highest price level of the previous day.
Mid Pivot: The midpoint between the previous day's high and low.
Low Pivot: The lowest price level of the previous day.
75% Pivot: A level calculated as 75% of the range between the previous day's high and low.
25% Pivot: A level calculated as 25% of the range between the previous day's high and low.
Customizable Display :
Show Only Last Pivot: Choose whether to display only the most recent pivot levels or all available levels.
Show Price Level: Option to display the exact price value next to each pivot line.
Line Width and Color: Customize the width and color of the pivot lines and labels for better visibility and clarity.
How It Works :
The indicator calculates the daily high and low at the start of each trading day and plots the key pivot levels based on these values. The lines and labels are updated dynamically to reflect the current bar’s position, ensuring accurate and real-time representation of important price levels.
Usage :
Utilize these pivot levels to identify potential support and resistance areas, assess market sentiment, and make informed trading decisions. The levels provide a clear visual reference for possible price action, aiding in the development of effective trading strategies.
