Support/Resistance Breakout DetectorThis indicator automatically detects and plots dynamic support and resistance levels using pivot highs and lows.
✅ It draws red resistance lines and blue support lines,
✅ The lines extend forward but automatically stop when the price touches them,
✅ It monitors for breakouts with strong volume,
✅ When a breakout happens, it shows labels like “B” or “Bull Wick” / “Bear Wick” on the chart,
✅ It also triggers alerts when support or resistance breaks with high volume.
Main settings:
Pivot lookback period
Show/hide breakout labels
Minimum volume for breakout
Maximum extension length for lines
This tool helps traders easily spot key price levels and watch for meaningful breakouts.
Recherche dans les scripts pour "support resistance"
Support, Resistance, MA, and ADXSummary
This comprehensive script provides traders with a tool that highlights critical levels of support and resistance, detects significant price breakouts with volume confirmation, identifies potential reversals with wick analysis, and plots a moving average that changes color based on trend strength as indicated by the ADX. It is useful for spotting entry and exit points, confirming breakouts, and identifying trend direction and strength.
Support/Resistance LinesThis script displays support and resistance lines at the levels you enter in the Input Settings. It does not perform the S/R calculations.
It allows you to:
Enter up to 6 support and 6 resistance lines each; any with value of 0 will be hidden
Specify one ticker that it applies to, so the lines will be hidden if you switch charts
Set the text size, color, horizontal offset, and whether to display the price values for each line
Set the color, transparency and line type for the S/R lines
Support Resistance ZonesSupport and resistance zones are used across all markets by traders and bots alike to identify liquidity and possible bounce areas. This script automates the drawing of those zones based on a number of variables, such as lookback period, channel width, number of touch confirmations and more.
This script also implements a some useful alerts so you can rest easy until the market hits a point of interest:
Enter SR Zone
Exit SR Zone
Break Upper Resistance
Break Lower Resistance
Support Resistance DiagonalClassic diagonal support and resistance based on pivot points. As a result, they form triangles, wedges, channels and other patterns. Realtime update up to 1 second chart.
Support/Resistance x3Support and Resistance Levels for 3 time frames, based on volume at fractal levels
Original script is thanks to synapticex I have just migrated to version 3 and heavily modified it
Support/Resistance V2 IndicatorWith this support and resistance indicator, if you want more levels just change the timeframe it looks at in the settings. It will pull the SR levels off the timeframe specified in the settings. Note: SR1 and SR2 timeframe should match.
Support Resistance - Aging [Example]Hello All,
First all of Thanks to Pine Team for adding Arrays to Pine!
In this script I tried to make example for
1. Finding S/R lines using highest/lowest function
2. Using 1D array as 2D (we keep S/R levels and age)
3. "Age" usage for S/R levels, getting older on each candle and changing colors by their age (maximum age is 127 then it disappears)
You can use "Close"/Open " or " High/Low " as source.
There is an option for the background color, by default it's Black, do not forget to set it accordingly :)
Enjoy!
Standard Deviation Pivot pointsSupport Resistance points that are calculated based on the standard deviation of the traditional pivot point(previous session's high, low and close). More often stocks tend to oscillate between 3 levels of deviation forming day's high or low. A breakout of the 3rd SR level with volume indicates a strong trend day.
Support and Resistance ZoneSupport and Resistance Zone Indicator :
Introduction :
The purpose of this indicator is to identify the chart symbol's main supports and resistances. It displays these key zones, which are very important psychological points for traders. Since support and resistance are not very precise levels, the indicator displays them as zones.
Pivots :
Pivots are a key concept in identifying support and resistance. The indicator uses two types of pivot:
Pivot high : This is a high point that has not been reached by a user-defined number of candles on either the left and right of this candle. The " left pivot leg " is the number of candles before this pivot point that have not reached the realized high, and the " right pivot leg " is the number of candles after this pivot point that have not reached this high. If these two conditions are met, the pivot point is considered a turning point, and resistance is probably the cause.
Pivot low : This is a low point that has not been reached by a user-defined number of candles on either the left or right. The " left pivot leg " is the number of candles before this pivot point that have not reached the candle low, and the " right pivot leg " is the number of candles after this pivot point that have not reached this low. If these two conditions are met, the pivot point is considered a turning point, and support is probably the cause.
Support/Resistance area :
If a pivot point has been identified, the indicator considers it a resistance if it's a pivot high, or a support if it's a pivot low. To define the support or resistance zone, we'll use the ATR (Average True Range), an indicator that measures asset volatility. We'll take the ATR of the candle for which the pivot was spotted, and use it as the width of the support or resistance zone. Thus the upper line of support/resistance is at pivot+atr/2 and the lower line is at pivot-atr/2 . The greater the volatility, the larger the zone.
New Support/Resistance :
If a new pivot has been identified, but the level of this pivot lies between the lower line and the upper line of the previous support or resistance, the indicator considers this to be the same support or resistance as before. In this case, no new support or resistance is created. The pivot must be outside the area of the previous support or resistance to be validated.
Anticipated Support/Resistance :
This indicator also allows early detection of support or resistance. To do this, the value of the right pivot legs will be shortened in order to find these areas more quickly. The support or resistance will then be considered anticipated and may disappear at any time if the high/low is reached. On the other hand, if the high/low is not reached, and a number of candles equal to the " Right Pivot Legs" parameter has elapsed since the detection of this anticipated support/resistance, it will be considered validated and will integrate the other supports/resistances of the chart.
Extended supports/resistances :
For a more optimal view, the indicator allows the user to choose the number of last support or resistance levels to be extended to the last candle. This must be specified in the indicator parameters.
Parameters :
Pivot Legs : Determine the left and right legs of the pivot i.e the number of candle before and after the pivot that doesn’t reach pivot point. The pivot is validated only if this two conditions are verified.
Extend Last Supports : Number of supports to extend to the last bar
Extend Last Resistances : Number of resistances to extend to the last bar
Show Support/Resistance Anticipated : If yes, will find anticipated support and resistance
Right Pivot Legs for Anticipation : Determine the right legs of pivots to find faster a support or a resistance.
Conclusion :
This indicator plot support and resistance zones based on pivot. The width of support and resistance zones are calculated with ATR. Possibility to find anticipated support and resistance in order to have more timeliness informations.
Enjoy the indicator and don’t forget to take the trade ;)
Adaptive MFT Extremum Pivots [Elysian_Mind]Adaptive MFT Extremum Pivots
Overview:
The Adaptive MFT Extremum Pivots indicator, developed by Elysian_Mind, is a powerful Pine Script tool that dynamically displays key market levels, including Monthly Highs/Lows, Weekly Extremums, Pivot Points, and dynamic Resistances/Supports. The term "dynamic" emphasizes the adaptive nature of the calculated levels, ensuring they reflect real-time market conditions. I thank Zandalin for the excellent table design.
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Chart Explanation:
The table, a visual output of the script, is conveniently positioned in the bottom right corner of the screen, showcasing the indicator's dynamic results. The configuration block, elucidated in the documentation, empowers users to customize the display position. The default placement is at the bottom right, exemplified in the accompanying chart.
The deliberate design ensures that the table does not obscure the candlesticks, with traders commonly situating it outside the candle area. However, the flexibility exists to overlay the table onto the candles. Thanks to transparent cells, the underlying chart remains visible even with the table displayed atop.
In the initial column of the table, users will find labels for the monthly high and low, accompanied by their respective numerical values. The default precision for these values is set at #.###, yet this can be adjusted within the configuration block to suit markets with varying degrees of volatility.
Mirroring this layout, the last column of the table presents the weekly high and low data. This arrangement is part of the upper half of the table. Transitioning to the lower half, users encounter the resistance levels in the first column and the support levels in the last column.
At the center of the table, prominently displayed, is the monthly pivot point. For a comprehensive understanding of the calculations governing these values, users can refer to the documentation. Importantly, users retain the freedom to modify these mathematical calculations, with the table seamlessly updating to reflect any adjustments made.
Noteworthy is the table's persistence; it continues to display reliably even if users choose to customize the mathematical calculations, providing a consistent and adaptable tool for informed decision-making in trading.
This detailed breakdown offers traders a clear guide to interpreting the information presented by the table, ensuring optimal use and understanding of the Adaptive MFT Extremum Pivots indicator.
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Usage:
Table Layout:
The table is a crucial component of this indicator, providing a structured representation of various market levels. Color-coded cells enhance readability, with blue indicating key levels and a semi-transparent background to maintain chart visibility.
1. Utilizing a Table for Enhanced Visibility:
In presenting this wealth of information, the indicator employs a table format beneath the chart. The use of a table is deliberate and offers several advantages:
2. Structured Organization:
The table organizes the diverse data into a structured format, enhancing clarity and making it easier for traders to locate specific information.
3. Concise Presentation:
A table allows for the concise presentation of multiple data points without cluttering the main chart. Traders can quickly reference key levels without distraction.
4. Dynamic Visibility:
As the market dynamically evolves, the table seamlessly updates in real-time, ensuring that the most relevant information is readily visible without obstructing the candlestick chart.
5. Color Coding for Readability:
Color-coded cells in the table not only add visual appeal but also serve a functional purpose by improving readability. Key levels are easily distinguishable, contributing to efficient analysis.
Data Values:
Numerical values for each level are displayed in their respective cells, with precision defined by the iPrecision configuration parameter.
Configuration:
// User configuration: You can modify this part without code understanding
// Table location configuration
// Position: Table
const string iPosition = position.bottom_right
// Width: Table borders
const int iBorderWidth = 1
// Color configuration
// Color: Borders
const color iBorderColor = color.new(color.white, 75)
// Color: Table background
const color iTableColor = color.new(#2B2A29, 25)
// Color: Title cell background
const color iTitleCellColor = color.new(#171F54, 0)
// Color: Characters
const color iCharColor = color.white
// Color: Data cell background
const color iDataCellColor = color.new(#25456E, 0)
// Precision: Numerical data
const int iPrecision = 3
// End of configuration
The code includes a configuration block where users can customize the following parameters:
Precision of Numerical Table Data (iPrecision):
// Precision: Numerical data
const int iPrecision = 3
This parameter (iPrecision) sets the precision of the numerical values displayed in the table. The default value is 3, displaying numbers in #.### format.
Position of the Table (iPosition):
// Position: Table
const string iPosition = position.bottom_right
This parameter (iPosition) sets the position of the table on the chart. The default is position.bottom_right.
Color preferences
Table borders (iBorderColor):
// Color: Borders
const color iBorderColor = color.new(color.white, 75)
This parameters (iBorderColor) sets the color of the borders everywhere within the window.
Table Background (iTableColor):
// Color: Table background
const color iTableColor = color.new(#2B2A29, 25)
This is the background color of the table. If you've got cells without custom background color, this color will be their background.
Title Cell Background (iTitleCellColor):
// Color: Title cell background
const color iTitleCellColor = color.new(#171F54, 0)
This is the background color the title cells. You can set the background of data cells and text color elsewhere.
Text (iCharColor):
// Color: Characters
const color iCharColor = color.white
This is the color of the text - titles and data - within the table window. If you change any of the background colors, you might want to change this parameter to ensure visibility.
Data Cell Background: (iDataCellColor):
// Color: Data cell background
const color iDataCellColor = color.new(#25456E, 0)
The data cells have a background color to differ from title cells. You can configure this is a different parameter (iDataColor). You might even set the same color for data as for the titles if you will.
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Mathematical Background:
Monthly and Weekly Extremums:
The indicator calculates the High (H) and Low (L) of the previous month and week, ensuring accurate representation of these key levels.
Standard Monthly Pivot Point:
The standard pivot point is determined based on the previous month's data using the formula:
PivotPoint = (PrevMonthHigh + PrevMonthLow + Close ) / 3
Monthly Pivot Points (R1, R2, R3, S1, S2, S3):
Additional pivot points are calculated for Resistances (R) and Supports (S) using the monthly data:
R1 = 2 * PivotPoint - PrevMonthLow
S1 = 2 * PivotPoint - PrevMonthHigh
R2 = PivotPoint + (PrevMonthHigh - PrevMonthLow)
S2 = PivotPoint - (PrevMonthHigh - PrevMonthLow)
R3 = PrevMonthHigh + 2 * (PivotPoint - PrevMonthLow)
S3 = PrevMonthLow - 2 * (PrevMonthHigh - PivotPoint)
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Code Explanation and Interpretation:
The table displayed beneath the chart provides the following information:
Monthly Extremums:
(H) High of the previous month
(L) Low of the previous month
// Function to get the high and low of the previous month
getPrevMonthHighLow() =>
var float prevMonthHigh = na
var float prevMonthLow = na
monthChanged = month(time) != month(time )
if (monthChanged)
prevMonthHigh := high
prevMonthLow := low
Weekly Extremums:
(H) High of the previous week
(L) Low of the previous week
// Function to get the high and low of the previous week
getPrevWeekHighLow() =>
var float prevWeekHigh = na
var float prevWeekLow = na
weekChanged = weekofyear(time) != weekofyear(time )
if (weekChanged)
prevWeekHigh := high
prevWeekLow := low
Monthly Pivots:
Pivot: Standard pivot point based on the previous month's data
// Function to calculate the standard pivot point based on the previous month's data
getStandardPivotPoint() =>
= getPrevMonthHighLow()
pivotPoint = (prevMonthHigh + prevMonthLow + close ) / 3
Resistances:
R3, R2, R1: Monthly resistance levels
// Function to calculate additional pivot points based on the monthly data
getMonthlyPivotPoints() =>
= getPrevMonthHighLow()
pivotPoint = (prevMonthHigh + prevMonthLow + close ) / 3
r1 = (2 * pivotPoint) - prevMonthLow
s1 = (2 * pivotPoint) - prevMonthHigh
r2 = pivotPoint + (prevMonthHigh - prevMonthLow)
s2 = pivotPoint - (prevMonthHigh - prevMonthLow)
r3 = prevMonthHigh + 2 * (pivotPoint - prevMonthLow)
s3 = prevMonthLow - 2 * (prevMonthHigh - pivotPoint)
Initializing and Populating the Table:
The myTable variable initializes the table with a blue background, and subsequent table.cell functions populate the table with headers and data.
// Initialize the table with adjusted bgcolor
var myTable = table.new(position = iPosition, columns = 5, rows = 10, bgcolor = color.new(color.blue, 90), border_width = 1, border_color = color.new(color.blue, 70))
Dynamic Data Population:
Data is dynamically populated in the table using the calculated values for Monthly Extremums, Weekly Extremums, Monthly Pivot Points, Resistances, and Supports.
// Add rows dynamically with data
= getPrevMonthHighLow()
= getPrevWeekHighLow()
= getMonthlyPivotPoints()
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Conclusion:
The Adaptive MFT Extremum Pivots indicator offers traders a detailed and clear representation of critical market levels, empowering them to make informed decisions. However, users should carefully analyze the market and consider their individual risk tolerance before making any trading decisions. The indicator's disclaimer emphasizes that it is not investment advice, and the author and script provider are not responsible for any financial losses incurred.
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Disclaimer:
This indicator is not investment advice. Trading decisions should be made based on a careful analysis of the market and individual risk tolerance. The author and script provider are not responsible for any financial losses incurred.
Kind regards,
Ely
[RickAtw] O1 Opening Market LineThis indicator helps to identify current support and resistance based on the opening of the Asian, London and New York sessions.
Function
You can make good trade entries based on these lines. Shows daily and weekly openings of each session
It will also help you to look at which session you are currently trading)
Purple ----> Asian session
Red ----> London session
Blue ----> New York session
Key Signal
buy ---> A strong buy signal is a bounce from the low and the presence of a weekly or day open line.
sell ---> A strong sell signal is a bounce from the maximum and the presence of a weekly or day open line.
P.S. Be sure to test on your pair!
Remarks
This will help you determine the approximate area of support and resistance.
Since we cannot look into the future, it does not inform you about the exact records, but a possible change in trends.
Readme
In real life, I am a professional investor. And I check each of my indicators on my portfolio and how effective it is. I will not post a non-working method. The main thing is to wait for the beginning of trends and make money!
I would be grateful if you subscribe ❤️
Machine Learning: Support and Resistance [YinYangAlgorithms]Overview:
Support and Resistance is normally based upon Pivot Points and Highest Highs and Lowest Lows. Many times coders even incorporate Volume, RSI and other factors into the equation. However there may be a downside to doing a pure technical approach based on historical levels. We live in a time where Machine Learning is becoming more and more used; thus we have decided to create a Machine Learning Support and Resistance Projection based Indicator. Rather than using traditional Support and Resistance calculations using historical data, we have taken a rather different approach. This Indicator instead attempts to Predict and Project where Support and Resistance locations will be based on a Machine Learning Model using a form of KNN (k-Nearest Neighbors).
Since this indicator creates a Projection of where it deems Support and Resistance will be, it has the ability to move its Support and Resistance before the price even gets to it if it believes it will surpass its projections. This may create a more accurate placement of Support and Resistance as they’re not based on historical levels.
This Indicator does not Repaint.
How it works:
This Indicator makes its projections based on the source you provide (by default close) of the previous bar and submits the source, RSI and EMA to our Projection Function to get its projection of the current bar.
The Projection function essentially calculates potential movement after finding the differences between the source the MA from the current bar, previous bar and average over the span of Machine Learning Length.
Potential movement is defined as:
Average Difference + Average(Machine Learning Average, Average Last Distance)
Average Difference: (Absolute value of Current Source - Current MA) - (Absolute value of Machine Learning Average - Machine Learning MA)
Average Last Distance: Average(Current Source - Current MA, Previous Source - Previous MA)
It then predicts the next bars directional movement (bullish or bearish bar) using several factors:
Previous Source > Previous MA
Current Source - Current MA > Average Source - Average MA
Current RSI > Previous RSI
Current RSI > 30 and Previous RSI <= 30
Current RSI < 70 and Previous RSI >= 70
This helps us to predict the direction the next bar may move.
We then calculate a multiplier that we apply to our Potential Movement value to get our final result which is our Current Bars Close Projection.
Our multiplier is calculated using:
(Current RSI > 30 and Previous RSI <= 30) OR (Current RSI < 70 and Previous RSI >= 70)
Current Source - Current MA > Previous Source - Previous MA
We then create an array and fill it with the previous X projections (Machine Learning Length) and send it to another function. This function, if told to, will sort the data accordingly and then output the KNN average of the length given.
We calculate and plot various KNN lengths to create different Zones:
Strong Support: Length of 2 but sort the data Ascending (low to high)
Strong Resistance: Length of 2 but sort the data Descending (high to low)
Support: Length of Machine Length Length / 10 or Min of 2 sorted by Ascending
Resistance: Length of Machine Length Length / 10 or Min of 2 sorted by Descending
There are also 4 other plots you may be wondering what they are, there is your AVG, VWMA, Long Term Memory and Current Projection.
By default your Current Projection is disabled in settings but you can enable it if you are curious to see how the projections for each close are calculated. It is, however, not a crucial point of interest (white line).
The average is simply the average value of the Machine Learning Data (purple line).
The VWMA is a VWMA calculation applied to our Data over a length specified in settings (by default 1)(blue line). The VWMA is crucial when combined with the Avg as they can cross over and under each other. These crosses represent potential Bullish and Bearish zones.
Lastly, but certainly not least, we have the Long Term Memory (maroon line). The Long Term Memory can be displayed either as an ‘Average’, ‘Hard Line’ or ‘None’. The Long Term Average is only updated every Machine Learning Length Bar Index’s and is populated with the average of the Machine Learning Data. For Instance, if Machine Learning Length is set to 100, the Long Term Memory is only updated every 100 bars, and since its length is the same as the Machine Learning Length, that means its data is composed of 10,000 bars worth of data. The Long Term Memory may be very beneficial for determining where Support and Resistance lie over the Long Term within a Machine Learning Algorithm. When set to ‘Average’ it plots the connection lines diagonally, and although they may be more visually appealing, they’re less useful when it comes to actually seeing support and resistance as generally speaking, support and resistance lie on the horizontal. When set to ‘Hard Line’ the Long Term Memory is connected with hard lines and holds the price value until the next time it is updated. This makes it much more useful for potentially identifying Support and Resistance.
Tutorial:
Here is an overview of what the Indicator looks like, now let's start to dissect it.
In the example above we can see how all of the lines between the Major Support and Resistance zones may act as BOTH Support and Resistance depending on which side the price is currently on. In the circle on the left, we can see how it can fluctuate between the two. If you look at the circle on the right, we can see how the Average line acts as a strong support before it fails to maintain it. Generally speaking, most Support and Resistance locations may potentially fail to hold after 3 tests, as the Average did in this example.
As you can see, the Support and Resistance doesn’t wait to be tested before adjusting, which is why there are 2 lines which create their zones. The inner line is the Support/Resistance and the outer line is the Strong Support/Resistance. The Yellow Circle shows the inner line was able to calculate the moving resistance correctly and then adjusted accordingly as it was projecting the price to keep increasing. However, if you look at the White Circle, you can see that since there was first a crash, and then parabolic movement, that the inner zone could not move and predict the resistance as well as the outer zone could.
We consider the price to be ‘Overvalued’ when it is above the VWMA (blue line) and ‘Undervalued’ when it is below the VWMA. It is considered ‘fair’ price when it is within the VWMA to Average zone (between the blue and purple lines). If you look at the example above, you’ll notice where the two yellow circles are, it is not only considered ‘Overvalued’, but it then proceeds to ride the inner resistance line upwards. This is common when the market is overly bullish and vice versa when it is bearish. Please keep in mind, although it is common, it doesn’t mean a correction can’t happen.
In this example above we look at the last bull run that may have started due to the halving. This bull run was very bullish as you can see in the example above. The price was constantly sitting within the Resistance Zone and the VWMA that was very close to it was constantly acting as a Support. Naturally, due to the Algorithm used in this Indicator, as the momentum starts to slow down, the VWMA (blue line) will start to space out more and more from the Resistance Zone. This doesn’t mean the momentum is gone, it just means it may be slowing down.
Unfortunately we have to study the Bear Market with a different perspective than the Bull Market. However, there are still some similarities within the two. If you refer to the example above and the previous example, you can clearly see that the Bull Market loves to stay with the Resistance Zone and use the VWMA as a Support. However, the Bear Market does not. This is a normal occurrence, however we can see from the example above you may see a correction / horizontal movement when the Outer Support Line is touched. If you look at all 3 yellow circles, the Outer Support Line was touched, then either a small correction or horizontal consolidation occurred.
We will conclude our Tutorial here, hopefully you’ll be able to benefit from a moving Support and Resistance calculated with Machine Learning that projects its locations, rather than using traditional calculations.
Settings:
Source: This source is the base for all our calculations
Machine Learning Length: How much projection data are we storing and using to make calculations.
Smoothing Length: We need to smooth calculations such as RSI, EMA and VWMA. What length are we smoothing it with?
VWMA ML Projection Length: How far into our Machine Learning data should we average for our VWMA. Please note the 'Smoothing Length' is still applied here after getting the Projection Average.
Long Term Memory: Long term memory has the same storage length but is only updated once per Machine Learning Length. For instance, if Machine Learning Length is 100, it will save the Average of our data once every 100 bars. This means its memory is an average of 10,000 bars of Machine Learning. 'Average' connects its values diagonally whereas 'Hard Line' holds its value until it changes.
Use Average Last Distance In Potential Movement: This can help accuracy but generally also displaces the Support and Resistance by projecting it further.
Show Current Projection: Projections occur for each bar, and our Machine Learning utilizes these projections by storing and evaluating them. This toggle will display the Current Projection Line which is used to create all our Projections.
If you have any questions, comments, ideas or concerns please don't hesitate to contact us.
HAPPY TRADING!
Parallel Pivot Lines [LuxAlgo]Displays lines connecting past pivot high/low points with each line having the slope of a linear regression. This slope can also be controlled by the user with the 'Slope' setting. Each line can be used as a support or resistance by the user.
Settings
Length : Pivot length. Use higher values for having lines connected to more significant pivots points.
Lookback : Number of lines connecting a pivot high/low to display, with a total of lines equal to Lookback*2
Slope : Allows the user to multiply the linear regression slope by a number within -1 and 1
Limitations
The script has currently several real time behavior limitations. Lines are displayed retrospectively and will not update with the arrival of new bars. Readjusting the indicator to newer pivots will require the user to either hide/unhide the indicator or change its settings.
High Length or Lookback values might not return any lines if the location of a pivot point is outside the defined buffer size of the indicator (set as 5000 bars).
How To Use
The indicator can be used to get supports and resistances and is more so closer to a drawing tool due to its limitations. The lines not updating with the arrival of new bars have the advantage of providing fixed supports/resistances.
The Slope setting allows the user to control the angle and direction of the lines. Using a Slope of 1 will return lines with the same slope as the one of a linear regression fit from the farthest pivot point displayed by the indicator to the most recent bar.
The chart above shows the indicators and a linear regression in orange.
If you want to have horizontal lines, use a Slope equal to 0.
Finally using a negative slope value will allow the user to have lines in opposite directions to the main trend.
Conclusion
We hope you like this indicator (drawing tool) and find it useful for drawing your support & resistances in a unique way!
The Perfect Support & ResistanceSupport & Resistance drawn based on overbought & oversold RSI . where the overbought acts as resistance and oversold acts as support.
It has 2 levels (for support and resistance - i call them level_n_high or level_n_low) for each lookback period. it checks the highest pivot and the lowest pivot based on the lookback period then we compare if rsi is higher than the highest pivot or the lowest pivot and we also check if rsi is overbought or oversold and if the statement is true, then we assign the high to the variable level_n_high or level_n_low. n being the number of levels. in total there are 5 levels with both high & low for 5 lookback periods. This is basically how the code works.
these levels can be accessed at any timeframe. the defaults are 5m and 30m.
RSI settings: (default)
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length - 14
source - close
overbought - 70
oversold - 30
lookback settings: (default)
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lookback_0 - 200
lookback_1 - 100
lookback_2 - 50
lookback_3 - 20
lookback_4 - 10
Timeframe Settings: (default)
-------------------
htf1 - 5m
htf2 - 30m
Enjoy!
Hyper Frame Fibo MA RibbonsIntroduction
Moving averages are an integral part of the TA world. There are different types of moving averages and each person uses them depending on their strategy and market conditions.
Meanwhile, the main variable in calculating the averages is their LENGTH. This value is optional, but not every value is applicable.
After much experience in the world of financial markets, I came to the conclusion that although the most popular length values are 20, 50, 100, and 200, the Fibonacci number come with surprising results .
Description
The following script calculates seven averages with the length of Fibonacci numbers (34, 55, 89, 144, 233, 377 and 610) with the formula of your choice (SMA, EMA, WMA, HMA) and shows that we named it FiboMa .
You can also have Bollinger Bands with the desired frame at the same time.
This is not the whole story...
You can see the same values from smaller or larger frames at the same time!
We named this feature Hyper Frame Vision .
It is possible to display values for FiboMa up to three hyper frames (with the main frame a total of 4 levels) and in the Bollinger Bands one hyper frame (with the main frame a total of 2 levels).
By default, the display of FiboMa hyper frame values is limited to the last 10 bars, which you can change to an arbitrary value by changing the source code.
The display of hyper frame values is not limited for Bollinger Band.
What is its use? What is it good for?
Support and Resistance
Using dynamic support / resistance is much smarter than static! This protects you from the risk of many fake breaks, and your profit and loss limits will be more flexible and more efficient.
The intersection of FiboMa ribbons are potential points of support / resistance.
We use colors to easily identify supports / resistances.
Any average lower than the price is assumed as support and displayed in green, and any average above the price is assumed as resistance so displayed in red.
So the color of the averages is dynamic.
The color of FiboMa is a range from red to green. Whatever colors get saturated , the lenght is longer and the more power it has as support / resistance.
Volatility
With this script, you also have the ability to monitor the amount of market volatility ! The combination of Bollinger Bands and FiboMa provides a clear view of the market volatility.
The decrease and compression of the FiboMa width is a sign of a decrease in volatility and vice versa.
Trend
I don't see the need for additional explanation, only whenever the price is higher than the middle band , the BB cloud is green , and whenever it is lower , is red .
The wider FiboMa means the stronger trend.
How to use
In the script settings you have the ability to enable or disable anything except.
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Similar scripts have been published before and we were inspired by them and tried to improve idea and code uniqe one.
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Trend Analysis with Volatility and MomentumVolatility and Momentum Trend Analyzer
The Volatility and Momentum Trend Analyzer is a multi-faceted TradingView indicator designed to provide a comprehensive analysis of market trends, volatility, and momentum. It incorporates key features to identify trend direction (uptrend, downtrend, or sideways), visualize weekly support and resistance levels, and offer a detailed assessment of market strength and activity. Below is a breakdown of its functionality:
1. Input Parameters
The indicator provides customizable settings for precision and adaptability:
Volatility Lookback Period: Configurable period (default: 14) for calculating Average True Range (ATR), which measures market volatility.
Momentum Lookback Period: Configurable period (default: 14) for calculating the Rate of Change (ROC), which measures the speed and strength of price movements.
Support/Resistance Lookback Period: Configurable period (default: 7 weeks) to determine critical support and resistance levels based on weekly high and low prices.
2. Volatility Analysis (ATR)
The Average True Range (ATR) is calculated to quantify the market's volatility:
What It Does: ATR measures the average range of price movement over the specified lookback period.
Visualization: Plotted as a purple line in a separate panel below the price chart, with values amplified (multiplied by 10) for better visibility.
3. Momentum Analysis (ROC)
The Rate of Change (ROC) evaluates the momentum of price movements:
What It Does: ROC calculates the percentage change in closing prices over the specified lookback period, indicating the strength and direction of market moves.
Visualization: Plotted as a yellow line in a separate panel below the price chart, with values amplified (multiplied by 10) for better visibility.
4. Trend Detection
The indicator identifies the current market trend based on momentum and the position of the price relative to its moving average:
Uptrend: Occurs when momentum is positive, and the closing price is above the simple moving average (SMA) of the specified lookback period.
Downtrend: Occurs when momentum is negative, and the closing price is below the SMA.
Sideways Trend: Occurs when neither of the above conditions is met.
Visualization: The background of the price chart changes color to reflect the detected trend:
Green: Uptrend.
Red: Downtrend.
Gray: Sideways trend.
5. Weekly Support and Resistance
Critical levels are calculated based on weekly high and low prices:
Support: The lowest price observed over the last specified number of weeks.
Resistance: The highest price observed over the last specified number of weeks.
Visualization:
Blue Line: Indicates the support level.
Orange Line: Indicates the resistance level.
Both lines are displayed on the main price chart, dynamically updating as new data becomes available.
6. Alerts
The indicator provides configurable alerts for trend changes, helping traders stay informed without constant monitoring:
Uptrend Alert: Notifies when the market enters an uptrend.
Downtrend Alert: Notifies when the market enters a downtrend.
Sideways Alert: Notifies when the market moves sideways.
7. Key Use Cases
Trend Following: Identify and follow the dominant trend to capitalize on sustained price movements.
Volatility Assessment: Measure market activity to determine potential breakouts or quiet consolidation phases.
Support and Resistance: Highlight key levels where price is likely to react, assisting in decision-making for entries, exits, or stop-loss placement.
Momentum Tracking: Gauge the strength and speed of price moves to validate trends or anticipate reversals.
8. Visualization Summary
Main Chart:
Background color-coded for trend direction (green, red, gray).
Blue and orange lines for weekly support and resistance.
Lower Panels:
Purple line for volatility (ATR).
Yellow line for momentum (ROC).
RY-Parabolic Stop and ReverseParabolic Stop and Reverse with Support Resistance (PSAR-SR)
Identify dynamic support and resistance levels based on price movements.
Reduce false signals often generated by the regular PSAR.
Provide more accurate trading decisions by considering previous reversal points as support and resistance.
How Does PSAR-SR Work?
PSAR Reversal Points:
When the regular PSAR generates a reversal signal, the price at that reversal point is used as support (in an uptrend) or resistance (in a downtrend).
Support and Resistance Lines:
Support: A line drawn from the previous PSAR reversal point in an uptrend.
Resistance: A line drawn from the previous PSAR reversal point in a downtrend.
Price often moves sideways between these support and resistance levels before a breakout occurs.
Breakout Above/Below Support and Resistance:
A Buy signal is generated when the price breaks above resistance with a new candle closing above it.
A Sell signal is generated when the price breaks below support with a new candle closing below it.
Strategy Using PSAR-SR
Wait for the Breakout:
Avoid buying or selling immediately when the PSAR gives a signal.
Confirm that the price breaks past the support or resistance levels and forms a new candle outside those lines.
Use Alongside Other Indicators:
PSAR-SR is not recommended as a standalone tool. Use additional confirmation indicators such as:
Moving Average: To identify long-term trends.
RSI or MACD: To confirm momentum or overbought/oversold conditions.
Advantages of PSAR-SR
Reduces False Signals:
By focusing on previous support and resistance levels, PSAR-SR avoids invalid signals.
Helps Identify Breakouts:
It provides better insight for traders to enter the market during valid breakouts.
Limitations of PSAR-SR
Not Suitable for Sideways Markets:
If the price moves sideways for an extended period, the signals may become less effective.
Requires Additional Confirmation:
Should be used in combination with other indicators to improve accuracy.
Conclusion
PSAR-SR is a helpful tool for identifying dynamic support and resistance levels and generating buy/sell signals based on price breakouts. However, it should always be used with additional indicators for confirmation to avoid false trades.
Disclaimer:
Use this indicator at your own risk, and always perform additional analysis before making any trading decisions.
If you'd like further clarification or examples of how to apply this to a chart, feel free to ask! 😊
Sylvain Zig-Zag [MyTradingCoder]This Pine Script version of ZigZagHighLow is a faithful port of Sylvain Vervoort's original study, initially implemented in NinjaScript and later added to the thinkorswim standard library. This indicator identifies and connects swing points in price data, offering a clear visualization of market moves that exceed a specified threshold. Additionally, it now includes features for detecting and plotting support and resistance levels, enhancing its utility for technical analysis.
Overview
The Sylvain Zig-Zag study excels at highlighting significant price swings by plotting points where the price change, combined with volatility adjustments via the Average True Range (ATR), exceeds a user-defined percentage. It effectively smooths out minor fluctuations, allowing traders to focus on the primary market trends. This tool is particularly useful in identifying potential turning points, trends in price movements, and key support and resistance levels, making it a valuable addition to your technical analysis arsenal.
How It Works
The Sylvain Zig-Zag indicator works by detecting swing points in the price data and connecting them to form a zigzag pattern. A swing point is identified when the price moves a certain distance, defined by a combination of percentage change and ATR. This distance must be exceeded for a swing point to be plotted.
When the price moves upwards and exceeds the previous high by a specified percentage plus a factor of the ATR, a new high swing point is plotted. Conversely, a low swing point is plotted when the price moves downwards and exceeds the previous low by the same criteria. This ensures that only significant price moves are considered, filtering out minor fluctuations and providing a clear view of the overall market trend.
In addition to plotting zigzag lines, the indicator can now identify and draw support and resistance levels based on the detected swing points. These levels are crucial for identifying potential reversal areas and market structure.
Key Features
Swing Point Detection: Accurately identifies significant price swings by considering both percentage price change and volatility (via Average True Range).
Dynamic Support/Resistance: Automatically generates support and resistance lines based on the identified swing points, providing potential areas of price reversals.
Customizable Parameters: Tailor the indicator's sensitivity to your preferred trading style and market conditions. Adjust parameters like percentage reversal, ATR settings, and absolute/tick reversals.
Visual Clarity: Choose to display the ZigZag line, support/resistance levels, new trend icons, continuation icons, and even customize bar colors for easy visual analysis.
Trading Applications
Trend Identification: Easily visualize the prevailing market trend using the direction of the ZigZag line and support/resistance levels.
Entry/Exit Signals: Potential entry points can be identified when the price interacts with the dynamic support/resistance levels.
Stop-Loss Placement: Use recent swing points as logical places for setting stop-loss orders.
Profit Targets: Project potential price targets based on the distance between previous swing points.
Input Parameters
Several input parameters can be adjusted to customize the behavior of the Sylvain Zig-Zag indicator. These parameters allow traders to fine-tune the detection of swing points and support/resistance levels to better suit their trading strategy and the specific market conditions they are analyzing.
High Source and Low Source:
These inputs define the price points used for detecting high and low swing points, respectively. You can choose between high, low, open, or close prices for these calculations.
Percentage Reversal:
This input sets the minimum percentage change in price required for a swing to be detected. A higher percentage value will result in fewer but more significant swing points, while a lower value will detect more frequent, smaller swings.
Absolute Reversal:
This parameter allows for an additional fixed value to be added to the minimum price change and ATR change. This can be useful for increasing the distance between swing points in volatile markets.
ATR Length:
This input defines the period used for calculating the ATR, which is a measure of market volatility. A longer ATR period will smooth out the ATR calculation, while a shorter period will make it more sensitive to recent price changes.
ATR Multiplier:
This factor is applied to the ATR value to adjust the sensitivity of the swing point detection. A higher multiplier will increase the required price movement for a swing point to be plotted, reducing the number of detected swings.
Tick Reversal:
This input allows for an additional value in ticks to be added to the minimum price change and ATR change, providing further customization in the swing point detection process.
Support and Resistance:
Show S/R: Enable or disable the plotting of support and resistance levels.
Max S/R Levels: Set the maximum number of support and resistance levels to display.
S/R Line Width: Adjust the width of the support and resistance lines.
Visual Settings
The Sylvain Zig-Zag indicator also includes visual settings to enhance the clarity of the plotted swing points and trends. You can customize the color and width of the zigzag line, and enable icons to indicate new trends and continuation patterns. Additionally, the bars can be colored based on the detected trend, aiding in quick visual analysis.
Conclusion
This port of the ZigZagHighLow study from NinjaScript to Pine Script preserves the essence of Sylvain Vervoort’s methodology while adding new features for support and resistance. It provides traders with a powerful tool for technical analysis. The combination of price changes and ATR ensures that you have a robust and adaptable tool for identifying key market movements and structural levels. Customize the settings to match your trading style and gain a clearer picture of market trends, turning points, and support/resistance areas. Enjoy improved market analysis and more informed trading decisions with the Sylvain Zig-Zag indicator.
Support and Resistance Breakouts By RICHIESupport and resistance are fundamental concepts in technical analysis used to identify price levels on charts that act as barriers, preventing the price of an asset from getting pushed in a certain direction. Here’s a detailed description of each and how breakout strategies are typically used:
Support
Support is a price level where a downtrend can be expected to pause due to a concentration of demand. As the price of an asset drops, it hits a level where buyers tend to step in, causing the price to rebound.
Support Level Identification: Support levels are identified by looking at historical data where prices have repeatedly fallen to a certain level but have then rebounded.
Strength of Support: The more times an asset price hits a support level without breaking below it, the stronger that support level is considered to be.
Resistance
Resistance is a price level where an uptrend can be expected to pause due to a concentration of selling interest. As the price of an asset increases, it hits a level where sellers tend to step in, causing the price to drop.
Resistance Level Identification: Resistance levels are identified by looking at historical data where prices have repeatedly risen to a certain level but have then fallen back.
Strength of Resistance: The more times an asset price hits a resistance level without breaking above it, the stronger that resistance level is considered to be.
Breakouts
A breakout occurs when the price moves above a resistance level or below a support level with increased volume. Breakouts can be significant because they suggest a change in supply and demand dynamics, often leading to strong price movements.
Breakout Above Resistance: Indicates a bullish market sentiment. Traders often interpret this as a sign to enter a long position (buy).
Breakout Below Support: Indicates a bearish market sentiment. Traders often interpret this as a sign to enter a short position (sell).
Breakout Trading Strategies
Confirmation: Wait for a candle to close beyond the support or resistance level to confirm the breakout.
Volume: Increased volume on a breakout adds credibility, suggesting that the price move is supported by strong buying or selling interest.
Retest: Sometimes, after a breakout, the price will return to the breakout level to test it as a new support or resistance. This retest offers another entry point.
Stop-Loss: Place stop-loss orders just below the resistance (for long positions) or above the support (for short positions) to limit potential losses in case of a false breakout.
Take-Profit: Identify target levels for taking profits. These can be set based on previous support/resistance levels or using tools like Fibonacci retracements.
Etherium CME gaps multi-timeframe auto finderThis indicator is a powerful tool that automatically detects and visualizes price gaps (Gaps) in the Ethereum CME futures market across multiple timeframes and also provides alert functionality. Price gaps occur when the futures market is inactive for a certain period, often acting as potential support or resistance zones.
What is an Ethereum CME Gap?
CME (Chicago Mercantile Exchange) is one of the largest derivatives exchanges globally. The Ethereum CME futures market is closed on weekends and certain holidays. When the market reopens, a price difference may occur between the previous closing price and the new opening price, referred to as a "CME Gap."
Key Features of the Indicator
Multi-timeframe gap detection: Detects and displays gaps across 5m, 15m, 30m, 1h, 4h, 1d timeframes simultaneously.
Customizable CME Symbol: You can specify Ethereum CME futures symbols, such as ETH1!.
Two gap price display methods:
CME_price: Displays the gap based on the actual price levels in the CME futures market.
Chart_price: Adjusts the gap to match the price levels on the chart being viewed (e.g., spot market). This helps visualize the impact of futures gaps on the spot market.
Visual customization:
Individual color settings for bullish/bearish gap boxes for each timeframe.
Adjust the extension (display length) of gap boxes in bars.
Configure label display, position, text size, background, and text color.
Highlight significant gaps: Emphasize gaps above a specified percentage with a unique color and border thickness.
Alert functionality: Receive notifications when a gap is detected, with options to enable alerts only for specific timeframes.
Why CME Gaps Matter
Traders often consider CME gaps as significant price zones.
Gap Fill: Historical data shows that many gaps tend to get "filled" over time, meaning the price returns to the gap area, reaching the start or end point of the gap.
Support/Resistance: Unfilled gaps can serve as potential support (Bullish Gap) or resistance (Bearish Gap) zones.
Bullish Gap: Occurs when the current opening price is higher than the previous closing price. Typically leaves an unfilled gap below (previous high), which can act as potential support.
Bearish Gap: Occurs when the current opening price is lower than the previous closing price. Typically leaves an unfilled gap above (previous low), which can act as potential resistance.
How to Use the Indicator
Add Indicator on TradingView: Click the "Indicators" button on the TradingView chart.
Find the indicator in "My Scripts" or "Invite-Only Scripts" and add it to the chart.
Adjust Settings: Once the indicator is added, click the settings (gear) icon to adjust inputs.
CME Symbol (ETH): ETH1! is typically the default symbol for Ethereum CME futures. Confirm based on your broker or data feed.
Min gap %: Set the minimum gap size in percentage; smaller gaps will not be displayed.
Select Exchanges to Display gap price: Choose between "CME_price" or "Chart_price." For viewing futures gaps on a spot chart, "Chart_price" is recommended.
Show Xm/h/d gap boxes: Select which timeframe gap boxes to display.
Color, Extension, Label settings: Customize the visual aspects of gap boxes and labels.
Highlight gap % (>=): Set the minimum percentage for highlighting significant gaps.
Enable Alerts: Choose whether to receive alerts when a gap is detected.
Alert Timeframe: Select whether alerts apply to all timeframes or specific ones only.
Chart Analysis
Once the indicator is applied, gap boxes for the selected timeframes appear on the chart.
Green shades indicate Bullish Gaps, and red shades indicate Bearish Gaps (default green can be customized, and bearish gap color can be set separately).
Highlighted gaps may carry higher significance and should be monitored carefully.
Potential trading opportunities can be explored when the price approaches or attempts to fill a gap.
Usage Strategies (Examples)
Support/Resistance Confirmation: The lower boundary of a bullish gap can act as potential support, while the upper boundary of a bearish gap can act as potential resistance. Observe for reversals or breakouts when price reaches these areas.
Retracement Trading: Trade when the price returns to fill a gap after leaving it through a sharp move up or down.
Multi-timeframe Analysis: Gaps overlapping across multiple timeframes can form stronger support/resistance zones.
Considerations
* "Gap Filled" Condition: The indicator does not draw a gap if it determines that the gap has already been filled by the current bar’s low (bullish gap) or high (bearish gap).
* Tool Only: This indicator is a gap detection tool and should not be used alone for trading decisions. Always combine with other technical analysis tools and your trading strategy.
* Past Data ≠ Future Guarantee: Historical gap fill trends do not guarantee future occurrences.
This indicator allows effective tracking of Ethereum CME futures gaps and provides valuable insights for enhancing your trading strategy.
Ichimoku Cloud Signals [sgbpulse] Ichimoku Cloud Signals – Your Advanced Trading Tool
Meet Ichimoku Cloud Signals, the enhanced and interactive version of the classic Ichimoku Cloud indicator, designed specifically for TradingView traders seeking precision and flexibility in their trading decisions. This indicator allows you to maximize the Ichimoku's potential by customizing trend criteria, receiving clear visual signals for entering and exiting positions, and getting alerts to keep you informed.
Introduction to the Ichimoku Cloud
The Ichimoku Cloud, also known as Ichimoku Kinko Hyo, is a comprehensive technical analysis tool developed in Japan. It provides a broad view of the market: trend direction, momentum, and support and resistance levels. "Ichimoku Cloud Signals" takes this power and amplifies it with advanced features.
Key Components of the Ichimoku Cloud
The indicator displays all five familiar Ichimoku lines, along with the "Cloud" (Kumo):
Tenkan-sen (Conversion Line): Calculated as the average of the highest high and lowest low over the past 9 periods. A fast, short-term indicator used as a measure of immediate momentum.
Kijun-sen (Base Line): Calculated as the average of the highest high and lowest low over the past 26 periods. A medium-term reference line serving as a significant support/resistance level.
Senkou Span A (Leading Span A): The average of the Tenkan-sen and Kijun-sen, shifted 26 periods forward into the future.
Senkou Span B (Leading Span B): The average of the highest high and lowest low over the past 52 periods, also shifted 26 periods forward into the future.
Kumo (Cloud): The area between Senkou Span A and Senkou Span B. Its color changes: green for an uptrend (when Senkou Span A is above Senkou Span B) and red for a downtrend (when Senkou Span B is above Senkou Span A). The Cloud serves as a dynamic area of support/resistance and a tool for forecasting future trends.
Chikou Span (Lagging Span): The current closing price, shifted 26 periods backward into the past. It serves as a powerful trend confirmation tool.
How the Ichimoku Cloud Works and How to Interpret It
Trend Identification :
- Uptrend (Bullish): The price is above the Cloud. The higher the price is above the Cloud, the stronger the trend.
- Downtrend (Bearish): The price is below the Cloud. The lower the price is below the Cloud, the stronger the trend.
- Range/Consolidation: The price is within the Cloud. This indicates a market without a clear direction or one that is consolidating.
Support and Resistance:
- The Cloud itself acts as a dynamic area of support and resistance. In an uptrend, the Cloud serves as support. In a downtrend, it serves as resistance.
- A thick Cloud indicates stronger support/resistance levels, while a thin Cloud indicates weaker levels.
The Cloud as a Predictive Indicator:
The uniqueness of the Kumo (Cloud) lies in its ability to be shifted 26 periods forward. This part of the Cloud provides forecasts for future support and resistance levels and even suggests expected trend changes (like a "Kumo Twist" – a change in Cloud color), giving you a planning advantage.
Unique Advantages of Ichimoku Cloud Signals:
Ichimoku Cloud Signals takes the classic Ichimoku principles and gives you unprecedented control:
Focused Trend Selection:
Choose whether you want to analyze a bullish (uptrend) or bearish (downtrend) trend. The indicator will focus on the relevant criteria for your selection.
Customizable Trend Confirmation Criteria (8 Criteria):
The indicator relies on 8 key criteria for clear trend confirmation. You can enable or disable each criterion individually based on your trading strategy and desired risk level. Each criterion plays a vital role in confirming the strength of the trend:
- Price position relative to the Cloud (Kumo) (Default: true): Determines the main trend direction and whether it's bullish or bearish.
- Price position relative to Kijun-sen (Base Line) (Default: true): Indicates the medium-term trend and acts as a critical equilibrium level.
- Price position relative to Tenkan-sen (Conversion Line) (Default: false): Provides quick confirmation of current momentum and short-term market changes.
- Tenkan-sen (Conversion Line) / Kijun-sen (Base Line) Crossover (Default: true): A classic signal for momentum change, crucial for identifying entry points.
- Current Cloud trend (Kumo) (Default: false): Cloud color confirms the main trend direction in real-time.
- Projected Future Cloud trend (Kumo) (Default: true): Indicates an expected future change in the Cloud's trend, providing strong visual insight.
- Chikou Span (Lagging Span) position relative to the Cloud (Kumo) (Default: true): Confirms the current trend strength by comparing the price to the Ichimoku 26 periods ago.
- Chikou Span (Lagging Span) position relative to the Price (Default: false): Additional confirmation of trend strength, indicating buyer/seller dominance.
Full Customization of Ichimoku Parameters:
You can change the period lengths for each Ichimoku component, depending on your strategy:
- Conversion Line Length (Default: 9)
- Base Line Length (Default: 26)
- Leading Span Length (Default: 52)
- Cloud Lagging Length (Default: 26)
- Lagging Span Length (Default: 26)
Visual Criteria Table on the Chart:
Get immediate and clear feedback! A visual table is placed on the chart, showing in real-time which of the 8 criteria you have defined are met for your chosen trend. Criteria you have enabled will be highlighted with a blue color and a "➤" symbol, while disabled criteria will appear in a subtle gray shade. For each criterion, the table shows its real-time status with a "✔" symbol if the condition is met and an "✘" symbol if it is not met. This powerful visual tool provides a quick assessment, helps with learning, and allows for strategy optimization at the click of a button.
Precise Criteria Details in the Data Window:
Beyond the visual table, the indicator provides an additional critical layer of detail: for any point on the chart, you can hover over a candle and see in TradingView's Data Window the precise status and values of all eight criteria. For each criterion, you'll see a clear numerical value (1 or 0) indicating whether it's fully met (1) or not met (0). Additionally, you can inspect the exact numerical values of the Ichimoku lines (Tenkan-sen, Kijun-sen, etc.) at that specific moment. This comprehensive data supports in-depth analysis, strategy debugging, and long-term optimization, providing complete transparency regarding every component of the signal.
Smart and Customizable Alerts:
Ichimoku Cloud Signals provides a powerful alert system to keep you informed of key market movements, so you never miss an opportunity. There are eight unique alerts you can enable in TradingView's alert panel:
Uptrend Entry Alert: Triggers when all of your selected criteria for an uptrend are met on a new candle.
Uptrend Exit Alert: Triggers when one of your selected uptrend criteria is no longer met, signaling a potential exit point.
Downtrend Entry Alert: Triggers when all of your selected criteria for a downtrend are met on a new candle.
Downtrend Exit Alert: Triggers when one of your selected downtrend criteria is no longer met, signaling a potential exit point.
Bullish Crossover Alert: Triggers when the Conversion Line (Tenkan-sen) crosses above the Base Line (Kijun-sen), a classic signal for an upward momentum shift.
Bearish Crossover Alert: Triggers when the Conversion Line (Tenkan-sen) crosses below the Base Line (Kijun-sen), signaling a potential shift to downward momentum.
Bullish Cloud Breakout Alert: Triggers when the price closes above the Ichimoku Cloud (Kumo), indicating a strong bullish trend.
Bearish Cloud Breakout Alert: Triggers when the price closes below the Ichimoku Cloud (Kumo), indicating a strong bearish trend.
Each alert can be independently configured in TradingView's alert panel, allowing you to tailor your notifications to fit your exact trading strategy and risk management preferences.
Summary:
Ichimoku Cloud Signals is an essential tool for TradingView traders seeking control, clarity, and precision. It combines the power of the classic Ichimoku Cloud indicator with advanced customization capabilities, a convenient visual table, and clear signals, empowering you to make informed trading decisions and stay focused on managing your positions.
Important Note: Trading Risk
This indicator is intended for educational and informational purposes only and does not constitute investment advice or a recommendation for trading in any form whatsoever.
Trading in financial markets involves significant risk of capital loss. It is important to remember that past performance is not indicative of future results. All trading decisions are your sole responsibility. Never trade with money you cannot afford to lose.
