OPEN-SOURCE SCRIPT

Higher Time Frame Strat [QuantVue]

The Higher Time Frame Strat Indicator is a tool that helps traders visualize and analyze price action from a higher timeframe (HTF) on their current chart. It applies the Strat method, a trading strategy focused on identifying key price action setups by observing how current price bars relate to previous ones. This helps in understanding the market's structure and determining potential trading opportunities based on higher timeframe data.

Key Concepts:
Strat Basics:
Type 1 Bar (Inside Bar): The current bar's high is lower than the previous bar's high, and its low is higher than the previous bar's low. This signifies a consolidation, or indecision, as the price is contained within the previous bar's range.

imagen

Type 2 Bar (Directional Bar): The current bar either breaks above the previous bar's high (bullish) or stays above the previous bar's low (bearish), indicating a continuation in the price direction.

imagen

Type 3 Bar (Outside Bar): The current bar breaks both above the previous bar's high and below the previous bar's low, showing volatility and a potential reversal.

imagen

Higher Timeframe Visualization:
The indicator uses a user-defined higher timeframe (default: 1 hour) and plots the last three higher timeframe candles on the current chart.

Strat Classification:
When a new higher timeframe candle forms, the indicator draws a semi-transparent box around the candle's range (high to low), along with the Strat type label. This provides a visual cue to the trader about the structure of the newly formed candle and how it fits into the overall market movement.

The script classifies each higher timeframe candle as one of the Strat types (1, 2, or 3). Based on the relationship between the current candle and the previous candle's high/low, it assigns a label ("1", "2", or "3"), helping traders quickly identify the price action setup on the higher timeframe.

imagen

How to Use the Indicator:
Trend Continuation: Look for Type 2 bars, which indicate a continuation in the current trend. For example, a Type 2 up suggests the price is breaking above the previous high, potentially signaling further upward movement.

imagen

Reversals: Type 3 bars show increased volatility, where the price breaks both above and below the previous bar's range. This could indicate a reversal, so be prepared for a potential change in direction.

imagen

Consolidation: Inside bars (Type 1) signify a tightening range and can signal the beginning of a breakout once the price moves outside of the previous bar's high or low.

imagen

By combining these price action concepts with the visualization of higher timeframe data, traders can potentially get earlier entry and exits as a higher timeframe set up forms.
highertimeframehighertimeframeconfluencehightimeframehightimeframetrendHTFictictconceptsmultitimeframequantvue

Script de código abierto

Siguiendo fielmente el espíritu de TradingView, el autor de este script lo ha publicado en código abierto, permitiendo que otros traders puedan entenderlo y verificarlo. ¡Olé por el autor! Puede utilizarlo de forma gratuita, pero tenga en cuenta que la reutilización de este código en la publicación se rige por las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.

¿Quiere utilizar este script en un gráfico?


Get Access to the exclusive QuantVue indicators: quantvue.io/

Join thousands of traders in our Free Discord: discord.gg/tC7u7magU3
También en:

Exención de responsabilidad