INVITE-ONLY SCRIPT
Actualizado Signal Algo - Elephant Edge
Description
Signal Algo - Advance Elephant Edge is a rule-based, intraday detection system that combines candle-pattern logic with session-driven support and resistance zones. creating a clean confluence-based signal that removes noise.
This tool is designed for traders who prefer structured rules over subjective drawing, and want clear, event-driven alerts without unrealistic promises or over-optimized behavior.
What This Script Does (Short & Simple)
1. Hammer-Type Candle Detection
The script looks for long-wick hammer or inverted hammer candles using your wick-ratio setting. It also checks candle size, body size, and doji conditions so that only clean and meaningful rejection candles are highlighted.
2. Session-Based Percentile Support & Resistance
The indicator calculates percentile levels from previous sessions and plots up to four upper and lower S/R lines around the daily open. These levels act as dynamic zones where price often reacts.
3. Optional Strike-Price Zones
For symbols that move around round numbers or strike intervals, the script can draw strike-based S/R lines (like 50 or 100 points) You can choose solid or dotted lines and select how many zones to show.
4.Higher-Timeframe Trend Background
A light green or red background shows the overall trend direction. Green = bullish bias, Red = bearish bias.
🔶 USAGE & EXAMPLES Elephant Support & Resistance
Elephant Support & Resistance creates intraday support and resistance levels using percentile data from previous sessions. Instead of drawing lines manually, calculates how far price usually moves above and below previous sessions. and then plots those levels automatically.
Each percentile pair (Level 1–4) gives one upper line and one lower line. These lines represent price zones where the market has reacted many times in the past. When price reaches these levels, it often pauses, reverses, or shows rejection candles.
🔶USAGE & EXAMPLES Strike Price Support & Resistance
Strike Price Zones are plotted because most markets naturally react around fixed strike levels. Every index, stock, or international market has its own commonly traded strike prices. These levels attract large traders and institutions, who often build positions around them.
When price moves toward one of these strike levels, big players frequently defend or reject that zone. As a result, price may pause, reverse, or show strong reactions at or near these strikes.
Because of this behavior, Strike Price Zones work as practical intraday support and resistance levels. They help traders see where important reactions can occur, where momentum may slow down, and where potential reversals may form.
These zones are not buy/sell signals by themselves, but they provide a simple, objective roadmap of key levels that the market respects during the session.
🔷 FEATURES
1. Hammer-Based Rejection Signals
2. Candle Size Filtering
3. Elephant Percentile Support & Resistance
4. Strike Price Support & Resistance Zones
5. Combined Confluence Logic
6. Higher-Timeframe Trend Background
7. Clean Visual Layout
8. Yellow Highlight Candle
9. Intraday Session Handling
10. Built-In Alerts
11. Fully Customizable Inputs
12. Lightweight & Rule-Driven Design
🔴 RISK DISCLAIMER
Trading is risky & most day traders lose money. All content, tools, scripts, articles, & education provided by Signal Algo are purely for informational & educational purposes only. Past performance does not guarantee future results.
Signal Algo - Advance Elephant Edge is a rule-based, intraday detection system that combines candle-pattern logic with session-driven support and resistance zones. creating a clean confluence-based signal that removes noise.
This tool is designed for traders who prefer structured rules over subjective drawing, and want clear, event-driven alerts without unrealistic promises or over-optimized behavior.
What This Script Does (Short & Simple)
1. Hammer-Type Candle Detection
The script looks for long-wick hammer or inverted hammer candles using your wick-ratio setting. It also checks candle size, body size, and doji conditions so that only clean and meaningful rejection candles are highlighted.
2. Session-Based Percentile Support & Resistance
The indicator calculates percentile levels from previous sessions and plots up to four upper and lower S/R lines around the daily open. These levels act as dynamic zones where price often reacts.
3. Optional Strike-Price Zones
For symbols that move around round numbers or strike intervals, the script can draw strike-based S/R lines (like 50 or 100 points) You can choose solid or dotted lines and select how many zones to show.
4.Higher-Timeframe Trend Background
A light green or red background shows the overall trend direction. Green = bullish bias, Red = bearish bias.
🔶 USAGE & EXAMPLES Elephant Support & Resistance
Elephant Support & Resistance creates intraday support and resistance levels using percentile data from previous sessions. Instead of drawing lines manually, calculates how far price usually moves above and below previous sessions. and then plots those levels automatically.
Each percentile pair (Level 1–4) gives one upper line and one lower line. These lines represent price zones where the market has reacted many times in the past. When price reaches these levels, it often pauses, reverses, or shows rejection candles.
🔶USAGE & EXAMPLES Strike Price Support & Resistance
Strike Price Zones are plotted because most markets naturally react around fixed strike levels. Every index, stock, or international market has its own commonly traded strike prices. These levels attract large traders and institutions, who often build positions around them.
When price moves toward one of these strike levels, big players frequently defend or reject that zone. As a result, price may pause, reverse, or show strong reactions at or near these strikes.
Because of this behavior, Strike Price Zones work as practical intraday support and resistance levels. They help traders see where important reactions can occur, where momentum may slow down, and where potential reversals may form.
These zones are not buy/sell signals by themselves, but they provide a simple, objective roadmap of key levels that the market respects during the session.
🔷 FEATURES
1. Hammer-Based Rejection Signals
2. Candle Size Filtering
3. Elephant Percentile Support & Resistance
4. Strike Price Support & Resistance Zones
5. Combined Confluence Logic
6. Higher-Timeframe Trend Background
7. Clean Visual Layout
8. Yellow Highlight Candle
9. Intraday Session Handling
10. Built-In Alerts
11. Fully Customizable Inputs
12. Lightweight & Rule-Driven Design
🔴 RISK DISCLAIMER
Trading is risky & most day traders lose money. All content, tools, scripts, articles, & education provided by Signal Algo are purely for informational & educational purposes only. Past performance does not guarantee future results.
Notas de prensa
New Features UpdatedPrevious Day OHLC Levels : -
When enabled: Draws Previous Day Open, High, Low, and Close on the chart Trades are allowed only when price touches any of these levels
Why Previous Day levels matter: These levels are widely watched by traders and institutions Price often reacts strongly near them Helps filter out low-probability trades
Volume-Based Validation : -
Use Volume Alert Validity Trades are allowed only after a high-volume candle appears.
Why volume matters: High volume confirms participation and interest.
Candle Direction & Color Filter : -
Available Options:
Both - Candle color is ignored Trades depend only on strategy logic
Trend - Buy → Green candles only. Sell → Red candles only
O-Trend - Buy → Red candles only. Sell → Green candles only
Notas de prensa
Name Correction Script que requiere invitación
Solo los usuarios autorizados por el autor pueden acceder a este script. Deberá solicitar y obtener permiso para utilizarlo. Por lo general, este se concede tras realizar el pago. Para obtener más información, siga las instrucciones del autor indicadas a continuación o póngase en contacto directamente con SignalAlgo.
TradingView NO recomienda pagar por un script ni utilizarlo a menos que confíe plenamente en su autor y comprenda cómo funciona. También puede encontrar alternativas gratuitas y de código abierto en nuestros scripts de la comunidad.
Instrucciones del autor
To request access, please send me a direct message on my TradingView profile.
Include your username and a brief note about your intended use.
All access is granted manually through TradingView only.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Script que requiere invitación
Solo los usuarios autorizados por el autor pueden acceder a este script. Deberá solicitar y obtener permiso para utilizarlo. Por lo general, este se concede tras realizar el pago. Para obtener más información, siga las instrucciones del autor indicadas a continuación o póngase en contacto directamente con SignalAlgo.
TradingView NO recomienda pagar por un script ni utilizarlo a menos que confíe plenamente en su autor y comprenda cómo funciona. También puede encontrar alternativas gratuitas y de código abierto en nuestros scripts de la comunidad.
Instrucciones del autor
To request access, please send me a direct message on my TradingView profile.
Include your username and a brief note about your intended use.
All access is granted manually through TradingView only.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.