Confluence Buy-Sell Indicator with Fibonacci The script is a "Confluence Indicator with Fibonacci" designed to work on the TradingView platform. This indicator combines multiple technical analysis strategies to generate buy and sell signals based on user-defined confluence criteria. Here's a breakdown of its features:
Confluence Criteria: Users can enable or disable various strategies like MACD, RSI, Bollinger Bands, Divergence, Fibonacci, and Moving Average. The number of strategies that need to align for a signal to be generated can be set by the user.
Strategies Included:
MACD Strategy: Uses the Moving Average Convergence Divergence method to identify buy/sell opportunities.
RSI Strategy: Utilizes the Relative Strength Index to detect overbought or oversold conditions.
Bollinger Bands Strategy: Incorporates Bollinger Bands to identify volatility and potential buy/sell signals.
Divergence Strategy: A basic implementation that detects bullish and bearish divergences using the RSI.
Fibonacci Strategy: Uses Fibonacci retracement levels to determine potential support and resistance levels.
Moving Average Strategy: Employs a crossover system between the 50-period and 200-period simple moving averages.
Additional Features:
Support & Resistance: Identifies major support and resistance levels from the last 50 bars.
Pivot Points: Calculates pivot points to determine potential turning points.
Stop Loss Levels: Automatically calculates and plots stop-loss levels for buy and sell signals.
NYC Midnight Level: Option to display the New York City midnight price level.
Visualization: Plots buy and sell signals on the chart with green and red markers respectively.
Adequate Category:
"Technical Analysis Indicators & Overlays" or "Strategy & Scripting Tools".
Confluences
[TT] Entry ProIndicators doesnt make money, it is the concept behind the indicator that makes money. Please read and understand before contact. This is not for beginners or people who are looking for Buy Sell signals. Purely for those who can understand the concept of confluence.
This indicator will help you identify the Entry candle with confluence of SMC or Pivots or any other analysis that you use.
Rules to follow :-
1. Identify Support Resistance (Smart Money Concept), Pivots, Trendlines (Choice is Yours)
2. Once Identified S&R Look for Bearish Candle at resistance or Bullish signal at Support, mark the areas
NSE:NIFTY
3. At Support as shown above in examples if the pink candle or the confirmation candle doesnt close break the support but closes above the support area, we do not consider it as break down. Some time breakdown happens and then at retest we get the bearish signal, that will be a good entry.
4. Like wise at resistance if you cant see a bullish signal breaking the resistance area, we do not consider break out. Same as above sometimes we get a signal after breakout and while retesting. Bullish SIgnal At support example is given below
NSE:BANKNIFTY
5. Enter in to a trade right when you get the signal use less lot size when you do and once you see price coming in to the range of the colored candle keep accumulating more at OHLC areas, first at high of colored candle and then close and then HL2 areas likewise, this helps to reduce your SL.
Note:
Areas to remember and not to get confused. At Important levels (Support or Resistance) once you get a relavent signal while retesting that signal you get a counter signal do not get confused by that and exit the trade. once you enter a trade you have to remain there as long as your SL is not hit. Remember that You have to use this retest candles to enter in to a trade, but not to get scared.
How to Use this in Swing or Long term trading? Futures or Stocks !!!
Look at the setup below Use weekly Chart to analyze for investment. In the below chart you can see there is a breakout of Swing high with candle and then a retest happened Twice but that area is intact. The best strategy to consider confluence is SMC. Thats what my perfect Setup is. You can use Orderblock to see if that orderblock is valid or not. Below you can see NSE:BANKNIFTY
Few more Stocks for Example. NSE:AXISBANK
BITSTAMP:BTCUSD
OANDA:EURUSD
Strictly Not assuring any 100% results. You need to least be confident on one concept of trading to aquire results.
HARSI - The WHALE v2This strategy is credited to the "Heikin Ashi RSI Oscillator" By JayRogers.
The core of this strategy is "Heikin Ashi RSI Oscillator (HARSI)" By JayRogers, with multiple confirmation indicators. The buy signal is generated by HARSI when there is green HA, and there is a positive stochastic cross under the line OB line.
To confirm the buys signal, you can use one or all of the following:
- EMA: the buy confirmation is positive if the candle closes above the EMA.
- Volume Oscillator: the buy confirmation is positive if the volume value is above the zero line.
- ADX: the buy confirmation is positive if the D+ is above the D- and the D+ is above the threshold level.
- Vortex: the buy confirmation is positive if VI+ is above VI-.
You can enable the take profit, trailing stop loss (TSL), and stop lose (SL), if not, then the strategy will give a sell signal by itself when there is a negative stochastic cross above OB Extreme line.
Note, that the TSL arming value should be lower than the TSL %.
The strategy can give a different result based on your selection. However, the best timeframe is 4 hours without TP.
Simple 𝔇 Oscillators𝔻𝕚𝕧𝕖𝕣𝕘𝕚𝕟𝕘 𝕆𝕤𝕔𝕚𝕝𝕝𝕒𝕥𝕠𝕣𝕤
No Offset's, No delay
There is 6 Oscillators diverging in release version
For micro tf charting -requires manual tune on input menu
Multi RSIThis scatters different instances of RSI.
Confluence zones would give a better indication of an overbought or oversold market.