Bitcoin Expectile Model [LuxAlgo]The Bitcoin Expectile Model is a novel approach to forecasting Bitcoin, inspired by the popular Bitcoin Quantile Model by PlanC. By fitting multiple Expectile regressions to the price, we highlight zones of corrections or accumulations throughout the Bitcoin price evolution.
While we strongly recommend using this model with the Bitcoin All Time History Index INDEX:BTCUSD on the 3 days or weekly timeframe using a logarithmic scale, this model can be applied to any asset using the daily timeframe or superior.
Please note that here on TradingView, this model was solely designed to be used on the Bitcoin 1W chart, however, it can be experimented on other assets or timeframes if of interest.
🔶 USAGE
The Bitcoin Expectile Model can be applied similarly to models used for Bitcoin, highlighting lower areas of possible accumulation (support) and higher areas that allow for the anticipation of potential corrections (resistance).
By default, this model fits 7 individual Expectiles Log-Log Regressions to the price, each with their respective expectile ( tau ) values (here multiplied by 100 for the user's convenience). Higher tau values will return a fit closer to the higher highs made by the price of the asset, while lower ones will return fits closer to the lower prices observed over time.
Each zone is color-coded and has a specific interpretation. The green zone is a buy zone for long-term investing, purple is an anomaly zone for market bottoms that over-extend, while red is considered the distribution zone.
The fits can be extrapolated, helping to chart a course for the possible evolution of Bitcoin prices. Users can select the end of the forecast as a date using the "Forecast End" setting.
While the model is made for Bitcoin using a log scale, other assets showing a tendency to have a trend evolving in a single direction can be used. See the chart above on QQQ weekly using a linear scale as an example.
The Start Date can also allow fitting the model more locally, rather than over a large range of prices. This can be useful to identify potential shorter-term support/resistance areas.
🔶 DETAILS
🔹 On Quantile and Expectile Regressions
Quantile and Expectile regressions are similar; both return extremities that can be used to locate and predict prices where tops/bottoms could be more likely to occur.
The main difference lies in what we are trying to minimize, which, for Quantile regression, is commonly known as Quantile loss (or pinball loss), and for Expectile regression, simply Expectile loss.
You may refer to external material to go more in-depth about these loss functions; however, while they are similar and involve weighting specific prices more than others relative to our parameter tau, Quantile regression involves minimizing a weighted mean absolute error, while Expectile regression minimizes a weighted squared error.
The squared error here allows us to compute Expectile regression more easily compared to Quantile regression, using Iteratively reweighted least squares. For Quantile regression, a more elaborate method is needed.
In terms of comparison, Quantile regression is more robust, and easier to interpret, with quantiles being related to specific probabilities involving the underlying cumulative distribution function of the dataset; on the other expectiles are harder to interpret.
🔹 Trimming & Alterations
It is common to observe certain models ignoring very early Bitcoin price ranges. By default, we start our fit at the date 2010-07-16 to align with existing models.
By default, the model uses the number of time units (days, weeks...etc) elapsed since the beginning of history + 1 (to avoid NaN with log) as independent variable, however the Bitcoin All Time History Index INDEX:BTCUSD do not include the genesis block, as such users can correct for this by enabling the "Correct for Genesis block" setting, which will add the amount of missed bars from the Genesis block to the start oh the chart history.
🔶 SETTINGS
Start Date: Starting interval of the dataset used for the fit.
Correct for genesis block: When enabled, offset the X axis by the number of bars between the Bitcoin genesis block time and the chart starting time.
🔹 Expectiles
Toggle: Enable fit for the specified expectile. Disabling one fit will make the script faster to compute.
Expectile: Expectile (tau) value multiplied by 100 used for the fit. Higher values will produce fits that are located near price tops.
🔹 Forecast
Forecast End: Time at which the forecast stops.
🔹 Model Fit
Iterations Number: Number of iterations performed during the reweighted least squares process, with lower values leading to less accurate fits, while higher values will take more time to compute.
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Advanced Range Theory - ART📊 Advanced Range Theory (ART): The Institutional Blueprint
Stop drawing lines. Start reading the blueprint of the market. Advanced Range Theory (ART) is not another support and resistance indicator; it is a military-grade market structure engine designed to decode the language of institutional capital. It operates on a single, powerful premise: markets move in phases of consolidation and expansion, and the key to anticipation lies in understanding the complete lifecycle of these phases.
ART provides a living, breathing map of the battlefield, identifying institutional accumulation zones and tracking them with unparalleled precision from their inception as "Pending" ranges to their ultimate classification after a breakout. This is your X-ray into the market's skeletal structure.
🔬 THEORETICAL FRAMEWORK: THE ARCHITECTURE OF PRICE ACTION
ART is built on a multi-layered system of logic that moves beyond static levels. It treats ranges as dynamic entities with a narrative—a beginning, a middle, and an end. The core of the system is the dynamic classification engine, which analyzes not just the range, but the character of the price action that resolves it.
1. The Range Lifecycle: From Accumulation to Classification
This is the revolutionary heart of ART. A range's true identity is only revealed by how it is broken.
Phase 1: PENDING (Yellow): A new range is identified based on a period of price consolidation (a "parent" candle followed by a minimum number of "inside" candles). At this stage, it is a neutral zone of potential energy—an area where institutions are likely building positions. It is a question the market has not yet answered.
Phase 2: MITIGATION & CLASSIFICATION: When price breaks out and reaches a calculated extension level, the range is considered "mitigated." At this exact moment, ART analyzes the breakout's DNA to classify the range's true intent:
TYPE 1 - BREAKOUT (Blue): Characterized by a strong, impulsive move with confirming volume. This is a high-conviction breakout, signaling aggressive institutional participation and the likely start of a new trend. It is a statement of intent.
TYPE 2 - REVERSAL (Orange): Occurs when price attempts to break one way but is aggressively rejected, reversing and breaking out the other side. This signals absorption and a "failed auction," often marking significant market turning points.
TYPE 3 - PIVOT (Green): A more balanced breakout, lacking the explosive momentum of a Type 1. This often represents a resolution after a period of indecision or a pivot within a larger trading range.
2. The Hierarchical Map: Source & S/R Levels
ART doesn't just draw boxes; it builds a genealogical map of market structure.
SOURCE LEVEL (Thick Gold Line): This is the "genesis" point—the most recently mitigated range. It acts as the primary point of origin for the current market swing and serves as a critical level for determining overall bias. Price action above the Source is generally bullish; below is bearish.
S/R LEVELS (Cyan Lines): When a range is mitigated, the price level where it broke becomes a key Support/Resistance zone for the future. ART tracks the two most recent S/R levels, as these often act as powerful magnets or rejection points for price.
3. The Multi-Factor Validation Engine
To eliminate noise and focus only on institutionally significant ranges, every potential range must pass a rigorous quality control check:
Time-Based Consolidation: Requires a minimum number of consecutive inside candles (minInsideCandles), ensuring a true period of balance.
Volatility-Based Significance: The range's size must be greater than a multiple of the Average True Range (minRangeSize), filtering out insignificant micro-consolidations.
Participation Confirmation: The parent candle of the range is checked against average volume to ensure there was meaningful activity during its formation.
⚙️ THE COMMAND CONSOLE: CONFIGURING YOUR ART ENGINE
Every input is designed to give you granular control over the detection engine, allowing you to tune ART to any market or timeframe with precision. Each tooltip in the script provides a deep dive, but here is a summary of the core controls.
🎯 ART Detection Engine
Minimum Inside Candles: The soul of the detection algorithm. It defines the minimum number of bars that must be contained within a single "parent" candle to qualify as a range. Higher values (3-4) find major, significant consolidation zones. Lower values (1-2) are more sensitive and will identify shorter-term accumulation patterns.
Extension Multiplier & Fibonacci Extension: These control the profit target projections. The Extension Multiplier uses a simple measured move (e.g., 1.0 = a 1:1 projection of the range's height). The Fibonacci Extension uses the golden ratio (1.618) for harmonically-derived targets.
Mitigation Method (Cross vs. Close): Determines how a breakout is confirmed. Cross is more responsive, triggering as soon as price touches the extension. Close is more conservative, requiring a full candle to close beyond the level, which helps filter out fake-outs from wicks.
Min Range Size (ATR): A crucial noise filter. It ensures that ART ignores tiny, insignificant ranges by requiring a range's height to be a certain multiple of the current market volatility (ATR).
📊 Display & Visual Configuration
These settings give you full control over the visual interface. You can toggle every single element—from the Webb Scanner to the S/R Levels—to create a clean or a comprehensive view. Choose a color theme that suits your charting environment or define a fully custom palette.
🕸️ Webb Analysis Scanner
This is a unique real-time flow analysis tool. It draws dynamic, animated lines from the current price to recent historical points. This visualization helps reveal hidden "tendrils" of momentum and short-term support/resistance that are not immediately obvious, acting as a "sonar" for immediate price flow.
📊 THE ANALYTICS HUB: YOUR DASHBOARD DECODED
The dashboard provides a real-time, at-a-glance intelligence briefing on the current state of market structure as seen by the ART engine.
RANGE METRICS: This section is a "census" of the market's structure. It tells you the total number of ranges identified, how many are still Pending (awaiting a breakout), how many are Unmitigated (active but not yet broken), and how many have been Mitigated (classified and complete).
TYPE BREAKDOWN: This is a powerful gauge of market character. A high count of Type 1 (Breakout) ranges suggests a strong, trending environment. A rising number of Type 2 (Reversal) ranges can signal market exhaustion and potential trend changes. A dominant Type 3 (Pivot) count indicates a balanced, rotational market.
KEY GUIDE: The Large dashboard includes a full legend, so you never have to guess what a line or color represents. It's your built-in user manual.
🎨 DECODING THE BLUEPRINT: A VISUAL INTERPRETATION GUIDE
Every line and color in ART is designed for instant, intuitive understanding.
The Range Lines:
Yellow Lines: A Pending range. This is an active zone of accumulation. Pay close attention.
Colored Lines (Blue/Orange/Green): An unmitigated, classified range. The color tells you its breakout character.
Dotted Lines: A Mitigated range. Its story has been told. These historical levels can still act as support or resistance.
The Identification Zones: These colored boxes appear at a range's origin point after it has been classified. They are the "birth certificate" of the range, permanently marking its type (Breakout, Reversal, or Pivot) and providing an immediate visual history of market behavior.
The Hierarchical Lines:
Thick Gold Line (Source): The most important line on your chart. It is the anchor for your bias.
Cyan Lines (S/R): High-probability decision points. Expect reactions here.
Purple Dotted Lines (Extensions): Logical, calculated profit targets for breaking ranges.
🔧 THE ARCHITECT'S VISION: THE DEVELOPMENT JOURNEY
ART was born from a deep frustration with the static and subjective nature of traditional market structure analysis. Drawing lines by hand is inconsistent, and most indicators are reactive, only confirming what has already happened. The goal was to create a proactive, objective, and dynamic framework that could think about the market in terms of phases and lifecycles.
The breakthrough came from a simple shift in perspective: a range's true character isn't defined when it forms, but by how it resolves. This led to the development of the "post-breakout classification engine," which waits for the market to show its hand before assigning a definitive type. The Webb Scanner was inspired by the desire to visualize the unseen, to create a tool that could feel the immediate "pull" and "push" of price flow. The result is not just an indicator; it is a new language for interpreting price action, built on a foundation of logic, clarity, and precision.
⚠️ RISK DISCLAIMER & BEST PRACTICES
Advanced Range Theory is a professional-grade analytical tool designed to enhance a trader's decision-making process. It does not provide direct buy or sell signals. The levels and classifications it generates are based on historical price action and mathematical probabilities. All trading involves substantial risk, and past performance is not indicative of future results. Always use this tool in conjunction with a robust risk management plan.
"I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times."
— Dskyz, Trade with insight. Trade with anticipation.
— Bruce Lee
Weis Wave Candle█Overview
The Weis Wave Candle indicator is a technical tool designed for the TradingView platform, enabling traders to analyze market dynamics by identifying price waves. The indicator relies solely on candlestick data, making it functional on markets where volume data is unavailable. It employs two trend detection methods, dynamic color gradients, trend change alerts, and clear visualization to assist in identifying trend strength and potential reversal points.
█Concept
The Weis Wave Candle indicator was developed to overcome limitations associated with the lack of volume data in certain markets, offering an alternative to traditional volume-based indicators like Weis Wave. Instead of volume, it measures candle size (body or body plus half the candle range) and accumulates it within a price wave. The indicator includes two trend calculation methods:
-LazyBear Style: Based on the popular Weis Wave adaptation by LazyBear, likely the most recognized version of this tool, it uses closing price comparisons and trend confirmation via trend functions. Results may differ from the original Weis Wave, as candle size does not always align with volume.
-Impulse Trend: A method that evaluates trend strength by summing price movements over a specified period, where each candle with a higher close than the previous adds +1, a lower close subtracts -1, and no change adds 0. The trend strength is determined by the sum: positive indicates an uptrend, negative a downtrend, and zero a continuation of the prior trend.
Results are visualized using dynamic color gradients, and alerts notify users of trend direction changes, facilitating quick decision-making.
█Why Use It?
-Volume-Free Operation: Ideal for markets without volume data.
-Flexibility: Two trend detection methods allow adaptation to various trading strategies.
-Dynamic Visualization: Color gradients and semi-transparent backgrounds simplify quick interpretation of trend strength.
-Alerts: Notifications for trend changes (from uptrend to downtrend and vice versa) support active trading.
-Customization: Options to adjust colors, analysis periods, and candle shadow inclusion.
█How It Works?
-Candle Size Calculation: Depending on the setting, candle size includes only the body (difference between close and open) or the body plus half the candle range (calculated as 0.5 * (high - low)) (setting Include candle shadows).
-Trend Detection:
LazyBear Style: Compares closing prices of adjacent candles to determine direction (uptrend, downtrend, or neutral) and confirms the trend using ta.rising or ta.falling functions over the specified period.
Impulse Trend: Sums price movements over the analysis period (+1 for a candle with a higher close than the previous, -1 for a lower close, 0 for no change). A positive sum indicates an uptrend, a negative sum a downtrend, and zero a continuation of the prior trend.
-Wave Accumulation: Candle sizes are accumulated within a single wave until the trend changes.
-Normalization and Gradients: Wave values are normalized to a 0-100 scale solely for color gradient purposes, enabling dynamic color changes from base to intense, reflecting wave strength relative to historical values. The height of columns (representing waves) is not normalized and corresponds to the accumulated candle size.
-Alerts: The indicator generates notifications when the wave direction changes (from uptrend to downtrend or vice versa), enabling quick responses to trend shifts.
-Visualization: Upward and downward waves are plotted as columns with dynamic colors, and the chart background changes color for better visibility.
█Settings and Customization
-Trend Detection Method: Choose between LazyBear Style (default) and Impulse Trend.
-Trend Analysis Period: Number of candles for trend analysis (default: 4).
-Include Candle Shadows: Determines whether to include half the candle range (high - low) in addition to the body (default: enabled).
-Lookback Period for Dynamic Thresholds: Number of candles to calculate the maximum and minimum wave values for color gradient normalization (default: 70).
-Gradient Minimum/Maximum Value: Threshold values defining the normalization range for color gradients (default: 0/100). A lower minimum value reduces the threshold for lighter colors, while a higher maximum value increases the threshold for more intense colors.
-Wave Colors: Options to select base and intense colors for upward and downward waves.
-Alerts: Enable alerts in TradingView settings (Upward Trend Change and Downward Trend Change) for trend change notifications.
█Usage Examples
-Trend Analysis: Upward waves (green columns) indicate buying pressure, while downward waves (red columns) indicate selling pressure. The more intense the color, the stronger the wave relative to historical values.
-Comparing Timeframes: Analyze trends across multiple timeframes (e.g., 1H, 4H, 1D) for broader context. For example, enter a position on the 4H timeframe after confirming trend alignment on 1H, 4H, and 1D, along with validation from a key level, such as a Fibonacci level or a Break of Structure (BOS).
-Using Alerts: Configure alerts in TradingView to receive notifications of trend changes, useful for active trading.
█Notes for Users
-Experiment with the Trend Analysis Period and Include Candle Shadows settings to tailor the indicator to your market and timeframe.
-Combine the indicator with other tools, such as support/resistance levels or RSI, to enhance signal accuracy.
-The Impulse Trend method may be more sensitive to short-term price changes, while LazyBear Style performs better in clear trends. Results from LazyBear Style may differ from the original Weis Wave, as candle size does not always align with volume.
Stage Market V4This script provides a comprehensive tool for identifying market stages based on exponential moving averages (EMAs), market performance metrics, and additional price statistics. Below is a summary of its functionality and instructions on how to use it:
1. Inputs and Configuration
Fast and Slow EMA:
Fast EMA Length: Determines the period for the fast EMA.
Slow EMA Length: Determines the period for the slow EMA.
Additional EMAs:
Enable or disable three additional EMAs (EMA 1, EMA 2, and EMA 3) with customizable lengths.
52-Week High Display:
Optionally display the percentage distance from the 52-week high.
2. Market Stages
The indicator identifies six market stages based on the relationship between the price, fast EMA, and slow EMA:
Recovery: Price is above the fast EMA, and the slow EMA is above both the price and the fast EMA.
Accumulation: Price is above both the fast EMA and slow EMA, but the slow EMA is still above the fast EMA.
Bull Market: Price, fast EMA, and slow EMA are all aligned in a rising trend.
Warning: Price is below the fast EMA, but still above the slow EMA, signaling potential weakness.
Distribution: Price is below both EMAs, but the slow EMA remains below the fast EMA.
Bear Market: Price, fast EMA, and slow EMA are all aligned in a falling trend.
The current stage is displayed in a table along with the number of bars spent in that stage.
3. Performance Metrics
The script calculates additional metrics to gauge the stock's performance:
30-Day Change: The percentage price change over the last 30 days.
90-Day Change: The percentage price change over the last 90 days.
Year-to-Date (YTD) Change: The percentage change from the year's first closing price.
Distance from 52-Week High (if enabled): The percentage difference between the current price and the highest price over the past 52 weeks.
These values are color-coded:
Green for positive changes.
Red for negative changes.
4. Table Display
The indicator uses a table in the bottom-right corner of the chart to show:
Current market stage and bars spent in the stage.
30-day, 90-day, and YTD changes.
Distance from the 52-week high (if enabled).
5. EMA Plotting
The script plots the following EMAs on the chart:
Fast EMA (default: 50-period) in yellow.
Slow EMA (default: 200-period) in orange.
Optional EMAs (EMA 1, EMA 2, and EMA 3) in blue, green, and purple, respectively.
6. Using the Indicator
Add the indicator to your chart via the Pine Editor in TradingView.
Customize the input parameters to fit your trading style or the asset's characteristics.
Use the table to quickly assess the current market stage and key performance metrics.
Observe the plotted EMAs to understand trend alignments and potential crossovers.
This script is particularly useful for identifying market trends, understanding price momentum, and aligning trading decisions with broader market conditions.
Continuous Partial Buying Signals v7.1🇬🇧 English Description: Continuous Partial Buying Signals v7.1
This indicator is built on a long-term accumulation philosophy , not a traditional buy-sell strategy. Its main purpose is to systematically increase your position in an asset you believe in by identifying significant price drops as buying opportunities. It is a tool designed for long-term investors who want to automate the "buy the dip" or "Dollar Cost Averaging (DCA)" mindset.
How It Works
The logic follows a simple but powerful cycle: Find a Peak -> Wait for a Drop -> Signal a Buy -> Wait for a New Peak.
1. Identifies a Significant Peak: Instead of reacting to minor price spikes, the indicator looks back over a user-defined period (e.g., the last 200 candles) to find the highest price. This stable peak (marked with an orange circle) becomes the reference point for the current cycle.
2. Waits for a Pullback: The indicator then calculates the percentage drop from this locked-in peak.
3. Generates Buy Signals: When the price drops by the percentages you define (e.g., -5% and -10%), it plots a "BUY" signal on the chart. It will only signal once per level within the same cycle.
4. Resets the Cycle: This is the key. If the price recovers and establishes a new significant peak higher than the previous one, the entire cycle resets. The new peak becomes the new reference, and the buy signals are re-armed, allowing the indicator to perpetually find new buying opportunities in a rising market.
How to Get the Most Out of This Indicator
* Timeframe: It is highly recommended to use this on higher timeframes (4H, Daily, Weekly) to align with its long-term accumulation philosophy.
* Peak Lookback Period:
* Higher values (200, 300): Create more stable and less frequent signals. Ideal for long-term, patient investors.
* Lower values (50, 100): More sensitive to recent price action, resulting in more frequent cycles.
* Drop Percentages: Adjust these based on the asset's volatility.
* Volatile assets (Crypto): Consider larger percentages like 10%, 20%.
* Less volatile assets (Stocks, Indices): Smaller percentages like 3%, 5%, 8% might be more appropriate.
This indicator is a tool for disciplined, emotion-free accumulation. It does not provide sell signals.
Chaikin Oscillator Multi-Timeframe BiasOverview
Chaikin Oscillator Multi-Timeframe Bias is an indicator designed to help traders align with institutional buying and selling activity by analyzing Chaikin Oscillator signals across two timeframes—a higher timeframe (HTF) for trend bias and a lower timeframe (LTF) for timing. This dual-confirmation model helps traders avoid false breakouts and trade in sync with market momentum and accumulation or distribution dynamics.
Core Concepts
The Chaikin Oscillator measures the momentum of accumulation and distribution based on price and volume. Institutional traders typically accumulate slowly and steadily, and the Chaikin Oscillator helps reveal this pattern. Multi-timeframe analysis confirms whether short-term price action supports the longer-term trend. This indicator applies a smoothing EMA to each Chaikin Oscillator to help confirm direction and reduce noise.
How to Use the Indicator
Start by selecting your timeframes. The higher timeframe, set by default to Daily, establishes the broader directional bias. The lower timeframe, defaulted to 30 minutes, identifies short-term momentum confirmation. The indicator displays one of five labels: CALL Bias, CALL Wait, PUT Bias, PUT Wait, or NEUTRAL. CALL Bias means both HTF and LTF are bullish, signaling a potential opportunity for long or call trades. CALL Wait indicates that the HTF is bullish, but the LTF hasn’t confirmed yet. PUT Bias signals bearish alignment in both HTF and LTF, while PUT Wait indicates HTF is bearish and LTF has not yet confirmed. NEUTRAL means there is no alignment between timeframes and directional trades are not advised.
Interpretation
When the Chaikin Oscillator is above zero and also above its EMA, this indicates bullish momentum and accumulation. When the oscillator is below zero and below its EMA, it suggests bearish momentum and distribution. Bias labels identify when both timeframes are aligned for a higher-probability directional setup. When a “Wait” label appears, it means one timeframe has confirmed bias but the other has not, suggesting the trader should monitor closely but delay entry.
Notes
This indicator includes alerts for both CALL and PUT bias confirmation when both timeframes are aligned. It works on all asset classes, including stocks, ETFs, cryptocurrencies, and futures. Timeframes are fully customizable, and users may explore combinations such as 1D and 1H, or 4H and 15M depending on their strategy. For best results, consider pairing this tool with volume, volatility, or price action analysis.
Exposure Oscillator (Cumulative 0 to ±100%)
Exposure Oscillator (Cumulative 0 to ±100%)
This Pine Script indicator plots an "Exposure Oscillator" on the chart, which tracks the cumulative market exposure from a range of technical buy and sell signals. The exposure is measured on a scale from -100% (maximum short exposure) to +100% (maximum long exposure), helping traders assess the strength of their position in the market. It provides an intuitive visual cue to aid decision-making for trend-following strategies.
Buy Signals (Increase Exposure Score by +10%)
Buy Signal 1 (Cross Above 21 EMA):
This signal is triggered when the price crosses above the 21-period Exponential Moving Average (EMA), where the current bar closes above the EMA21, and the previous bar closed below the EMA21. This indicates a potential upward price movement as the market shifts into a bullish trend.
buySignal1 = ta.crossover(close, ema21)
Buy Signal 2 (Trending Above 21 EMA):
This signal is triggered when the price closes above the 21-period EMA for each of the last 5 bars, indicating a sustained bullish trend. It confirms that the price is consistently above the EMA21 for a significant period.
buySignal2 = ta.barssince(close <= ema21) > 5
Buy Signal 3 (Living Above 21 EMA):
This signal is triggered when the price has closed above the 21-period EMA for each of the last 15 bars, demonstrating a strong, prolonged uptrend.
buySignal3 = ta.barssince(close <= ema21) > 15
Buy Signal 4 (Cross Above 50 SMA):
This signal is triggered when the price crosses above the 50-period Simple Moving Average (SMA), where the current bar closes above the 50 SMA, and the previous bar closed below it. It indicates a shift toward bullish momentum.
buySignal4 = ta.crossover(close, sma50)
Buy Signal 5 (Cross Above 200 SMA):
This signal is triggered when the price crosses above the 200-period Simple Moving Average (SMA), where the current bar closes above the 200 SMA, and the previous bar closed below it. This suggests a long-term bullish trend.
buySignal5 = ta.crossover(close, sma200)
Buy Signal 6 (Low Above 50 SMA):
This signal is true when the lowest price of the current bar is above the 50-period SMA, indicating strong bullish pressure as the price maintains itself above the moving average.
buySignal6 = low > sma50
Buy Signal 7 (Accumulation Day):
An accumulation day occurs when the closing price is in the upper half of the daily range (greater than 50%) and the volume is larger than the previous bar's volume, suggesting buying pressure and accumulation.
buySignal7 = (close - low) / (high - low) > 0.5 and volume > volume
Buy Signal 8 (Higher High):
This signal occurs when the current bar’s high exceeds the highest high of the previous 14 bars, indicating a breakout or strong upward momentum.
buySignal8 = high > ta.highest(high, 14)
Buy Signal 9 (Key Reversal Bar):
This signal is generated when the stock opens below the low of the previous bar but rallies to close above the previous bar’s high, signaling a potential reversal from bearish to bullish.
buySignal9 = open < low and close > high
Buy Signal 10 (Distribution Day Fall Off):
This signal is triggered when a distribution day (a day with high volume and a close near the low of the range) "falls off" the rolling 25-bar period, indicating the end of a bearish trend or selling pressure.
buySignal10 = ta.barssince(close < sma50 and close < sma50) > 25
Sell Signals (Decrease Exposure Score by -10%)
Sell Signal 1 (Cross Below 21 EMA):
This signal is triggered when the price crosses below the 21-period Exponential Moving Average (EMA), where the current bar closes below the EMA21, and the previous bar closed above it. It suggests that the market may be shifting from a bullish trend to a bearish trend.
sellSignal1 = ta.crossunder(close, ema21)
Sell Signal 2 (Trending Below 21 EMA):
This signal is triggered when the price closes below the 21-period EMA for each of the last 5 bars, indicating a sustained bearish trend.
sellSignal2 = ta.barssince(close >= ema21) > 5
Sell Signal 3 (Living Below 21 EMA):
This signal is triggered when the price has closed below the 21-period EMA for each of the last 15 bars, suggesting a strong downtrend.
sellSignal3 = ta.barssince(close >= ema21) > 15
Sell Signal 4 (Cross Below 50 SMA):
This signal is triggered when the price crosses below the 50-period Simple Moving Average (SMA), where the current bar closes below the 50 SMA, and the previous bar closed above it. It indicates the start of a bearish trend.
sellSignal4 = ta.crossunder(close, sma50)
Sell Signal 5 (Cross Below 200 SMA):
This signal is triggered when the price crosses below the 200-period Simple Moving Average (SMA), where the current bar closes below the 200 SMA, and the previous bar closed above it. It indicates a long-term bearish trend.
sellSignal5 = ta.crossunder(close, sma200)
Sell Signal 6 (High Below 50 SMA):
This signal is true when the highest price of the current bar is below the 50-period SMA, indicating weak bullishness or a potential bearish reversal.
sellSignal6 = high < sma50
Sell Signal 7 (Distribution Day):
A distribution day is identified when the closing range of a bar is less than 50% and the volume is larger than the previous bar's volume, suggesting that selling pressure is increasing.
sellSignal7 = (close - low) / (high - low) < 0.5 and volume > volume
Sell Signal 8 (Lower Low):
This signal occurs when the current bar's low is less than the lowest low of the previous 14 bars, indicating a breakdown or strong downward momentum.
sellSignal8 = low < ta.lowest(low, 14)
Sell Signal 9 (Downside Reversal Bar):
A downside reversal bar occurs when the stock opens above the previous bar's high but falls to close below the previous bar’s low, signaling a reversal from bullish to bearish.
sellSignal9 = open > high and close < low
Sell Signal 10 (Distribution Cluster):
This signal is triggered when a distribution day occurs three times in the rolling 7-bar period, indicating significant selling pressure.
sellSignal10 = ta.valuewhen((close < low) and volume > volume , 1, 7) >= 3
Theme Mode:
Users can select the theme mode (Auto, Dark, or Light) to match the chart's background or to manually choose a light or dark theme for the oscillator's appearance.
Exposure Score Calculation: The script calculates a cumulative exposure score based on a series of buy and sell signals.
Buy signals increase the exposure score, while sell signals decrease it. Each signal impacts the score by ±10%.
Signal Conditions: The buy and sell signals are derived from multiple conditions, including crossovers with moving averages (EMA21, SMA50, SMA200), trend behavior, and price/volume analysis.
Oscillator Visualization: The exposure score is visualized as a line on the chart, changing color based on whether the exposure is positive (long position) or negative (short position). It is limited to the range of -100% to +100%.
Position Type: The indicator also indicates the position type based on the exposure score, labeling it as "Long," "Short," or "Neutral."
Horizontal Lines: Reference lines at 0%, 100%, and -100% visually mark neutral, increasing long, and increasing short exposure levels.
Exposure Table: A table displays the current exposure level (in percentage) and position type ("Long," "Short," or "Neutral"), updated dynamically based on the oscillator’s value.
Inputs:
Theme Mode: Choose "Auto" to use the default chart theme, or manually select "Dark" or "Light."
Usage:
This oscillator is designed to help traders track market sentiment, gauge exposure levels, and manage risk. It can be used for long-term trend-following strategies or short-term trades based on moving average crossovers and volume analysis.
The oscillator operates in conjunction with the chart’s price action and provides a visual representation of the market’s current trend strength and exposure.
Important Considerations:
Risk Management: While the exposure score provides valuable insight, it should be combined with other risk management tools and analysis for optimal trading decisions.
Signal Sensitivity: The accuracy and effectiveness of the signals depend on market conditions and may require adjustments based on the user’s trading strategy or timeframe.
Disclaimer:
This script is for educational purposes only. Trading involves significant risk, and users should carefully evaluate all market conditions and apply appropriate risk management strategies before using this tool in live trading environments.
Buy/Sell Volume Totals for PeriodThis indicator can be used to help you tell the difference between Wyckoff Accumulation and Distribution.
The idea is to add up all the Buy Volume and all the Sell Volume separately from the beginning of the Trading Range (TR) for each candle. You can define the Start and End dates in the settings of the indicator.
The indicator will show you 3 numbers of interest:
GREEN = Total Buy Volume from beginning of date range
RED = Total Sell Volume from beginning of date range
YELLOW = Ratio of Total Buy / Total Sell Volume from beginning of date range
When the Total Buy Volume exceeds the Total Sell Volume in the TR, the indicator will color the background in GREEN color, to indicate possible accumulation. Otherwise the background will be RED, to indicate possible distribution.
You can float your cursor over any candle to see the current Volume Totals at that candle from the beginning of the TR (set by you in settings to a specific date).
Here's a few examples of the indicator in action:
1) Accumulation
2) Distribution
3) Possible Re-distribution
Please note that this indicator is meant to be used in combination with other analysis techniques from the Wyckoff Methodology!
Nightrangers IndicatorDescription
This indicator combines three EMA's, Ichimoku Cloud, RSI and MACD. By combining and modifying their use case this turns into an extremely powerful and accessible indicator for finding long and short position entries, below is a description of how to use this indicator, and what makes it different.
Primary Use case
The three EMA's would be the initial indicators you would be looking at, they are based on the 7d, 25d and 200d MA - Used on their own, they would be worthless, and this is where the Ichimoku Cloud comes into it, I have removed all other aspects of the Ichimoku Cloud and only kept the baseline, combine this with the three MA's and we have a very powerful indicator for finding Long entries, that is used uniquely in a way to which the Ichimoku Cloud is not originally meant to be used for.
An early indication of a LONG entry would be when the 7d MA crosses above the Ichimoku Baseline, through this early indicator, you are able to watch and monitor the chart, you would be waiting to see if the 25d MA then also crosses above the Ichimoku Baseline, This would be the second important indication of a long entry. The 200d MA helps here when making decisions on where to set your own personal take profits - If the Ichimoku baseline, and the MA's are below the 200d MA, you would be expecting a bounce point here, or heavy resistance so the long entry could be over a shorter period, than that if it was above the 200d MA, which is why it is included here, to help make a better informed choice.
The latter is reversed for finding short positions, and entries. This indicator is completely reliant on each other to find the best possible entry/exit by complementing each other, and by using the Ichimoku Baseline on it's own, and not as the Ichimoku Cloud is intended.
Just using these though, is not enough, which is why the RSI and MACD are also combined, once the conditions are met above, You may find that there can be false positives for entries, and this is where the RSI has multiple use cases within this script.
Firstly the backdrop colour will change based on whether the chart is in an uptrend or downtrend, This is a visual indicator provided to work simultaneaously on the chart itself to help identification of entries/exits easier to identify in conjunction with the above.
Secondly, It is used to display in the top right, The current Trend in a text format, as well as if the current chart is in one of three phases, these are Overbrought, Oversold and accumulation.
And finally it will display the current RSI Value on the last candle in a clear to see blue Label, This helps with the visual accessible side, to help you make a more informed choice depending on your own personal tolerance.
This ties into the above Indicators, by combining the information, you would not be looking to take a long, if for example, the RSI showed it was over-brought, and in a downtrend, even if the MA's had crossed above the Baseline, as this would most likely be a fakeout.
However if the Indicators above, showed a potential long, and the backdrop had flipped green, indicating an uptrend, and it was in an accumulation phase, you would consider this position. and this is where the MACD comes into play.
You would use the MACD to see whether or not the Signal line has crossed over the MACD line, and vice versa - However this script uses it to simplify and portray current market sentiment, and visually display by reducing clutter on screen, and making it more accessible.
It is designed to portray an easy to read and understand visual indicator by displaying in the top right simply as Bullish or Bearish, with markers above the candles ( "M" and "MX" ).
The M indicator is to show where the MACD Crosses above the Signal, and if aligned with all the other indicators within the script, shows a very strong confirmation for a buying opportunity, and vice versa for the "MX" indicator if aligned with the other indicators in reverse, provides a very strong confirmation for opening a short position or for selling.
Secondary Use case
By combining the indicators above, the secondary conditions you would be looking for, If you opened a LONG position, would be knowing when to sell, On top of what has been described above already regarding this, you would be looking to start taking profits, when the 7d MA crosses above or across the candles, and looking to close the position, when the 25d MA also crosses above the candles, and respectively, in reverse for closing short positions. This is shown across the charts to be extremely useful, however, combine this with the other indicators, portrayed in an easy to use and understand visual representation, you are now able to make more informed decisions, on whether to close a position or not.
How is it different and not just a mash up
I have combined these indicators to make the world of trading more accessible for everyone regardless of circumstances, by creating an easy to understand visual representation, keeping colours vibrant and easy to stand out, with clear and simple to read text indications. So whether you are a seasoned trader, or just starting out, you can make more informed choices, without the need of learning how to use multiple different indicators, and learning how to combine them all, or if you have difficulties learning, this indicator also simplifies a lot of the more technical intricacies, by still allowing you to make a more informed choice.
Distribution Histogram [SS]This is the frequency histogram indicator. It does just that—creates a frequency histogram distribution based on your desired lookback period. It then uses Pine's new Polyline function to plot a normal curve of the expected results for a normal distribution. This allows you to see quite a few things:
🎯 Firstly, it allows you to see where the accumulation rests in terms of a bell curve. The histogram represents a bell curve, and you can visually observe what the curve would look like.
🎯 Secondly, it will assess the normal distribution and the degree of skewness based on the curve itself. The indicator imports the SPTS statistics library to assess the distribution using Kurtosis and Skewness. However, it also adds functionality in this regard by making a qualitative assessment of the data. For example, if there are heavy left tails or heavier right tails present in the histogram, the indicator will alert you that a heavier left or right tail has been observed.
🎯 Thirdly, it provides you with the kurtosis and skewness of the dataset.
🎯 Fourthly, it provides the mean, median, and mode of the dataset, as well as the maximum and minimum values within the dataset.
🎯 Lastly, it provides you with the ability to toggle on tips/explanations of the curve itself. Simply toggle on "Show Distribution Explanation" in the settings menu:
How is the indicator helpful for trading?
If you are a mean reversion trader, this helps you identify the areas and price ranges of high and low accumulation. It also allows you to ascertain the probability by looking at the standard deviation of the bell curve. Remember, the majority of values should fall between -1 and 1 standard deviation of the mean (68%).
If it is revealed that the distribution has a heavier right or left tail, you will know that the stock is more likely to experience sudden drops and shifts in the curve in one direction or the other. Heavier left tails will tend to shift to the values on the far left, and vice versa for right tails.
Customization
You can turn off and on the following:
👉 The normal curve,
👉 The standard deviation levels, and
👉 The distribution explanations and tips.
Conclusion: And that is the indicator! Hope you enjoy it!
Chips MasterChips Master, a way to tell potential chips accumulation.
There are a couple of situation where Chips Master's Yellow Bars will show up.
Firstly,
When an uptrend trend completed Dow's 12345 waves, moving into ABC waves, yellow bars will show up between MA21 and MA60
if we refer to Granville rules, it is in the vicinity of buy point number 4.
Secondly,
During a down trend, when new low is created, potentially, yellow bars will show up, an indication of chips accumulation at low price.
Feel free to provide inputs to further improve the accuracy to benefit users.
Disclaimer : Purely for Technical Analysis study. No suggestion on buy/sell.
Average Volume at Time (AVAT)Calculation of average volume at current time for a number of previous sessions, known as Average Volume at Time (AVAT).
Inputs:
* period to use for accumulation. "D" is the default value, useful to view data for each session.
* number of previous sessions to average
TODO: more intelligent accumulation of number of bars in a session, since there may be sessions with different values
TODO: interpolate volume according to current time, inside of the last bar
Advanced Chaikin Money Flow (CMF)TL;DR: change the aggregation to EMA to achieve similar results to Twiggs Money Flow. Play with the rest of parameters to get the desired results.
This script allows customization of CMF. It also includes all the improvements made by Twiggs Money flow.
Regular CMF does not take price gaps into account as you can see in the chart below. True range fixes this issue, as done in Twiggs Money flow (TMF).
More info here: www.incrediblecharts.com
Customization Options:
- You can change the effect of volume by setting volume exponent. 0 to 10 reduces the effect and 10+ increases it. In exchanges with too much wash trading, you may want to reduce volume effect.
- You can factor in price in CMF. It gives you a slightly different results. See my Volume x price (VxP) indicator for why it might be useful.
- The range can be changed to percentage (similar to RSI)
PS: I do not recommend using CMF in today's Crypto markets. Chaikin uses the same multiplier in CMF and Accumulation/Distribution Line (ADL). ADL is a totally broken indicator for BTC. If you look at the period after ATH (chart below), you will notice that ADL keeps increasing implying accumulation. While it is clear that there was distribution going on. The reason might be the artificially inflated prices in Crypto that is achieved by the help of bots and having "certain" exchanges as a price reference. So, my reasoning is that if ADL is a broken indicator, so should be CMF. CMF diverges from BTC price frequently. This is a double edged sword IMO. Still CMF is a much better indicator than ADL because it works relative to prior periods which covers some of its flaws.
Note for super nerds: Twiggs Money Flow includes true range and Welles Wilder's Moving Average (WWMA). I have seen some other scripts using their own calculations for WWMA which is not efficient. WWMA is equal to built-in RMA/SMMA which is equal to EMA with length 2x-1.
FluidFlow OscillatorFluidFlow Oscillator: Study Material for Traders
Overview
The FluidFlow Oscillator is a custom technical indicator designed to measure price momentum and market flow dynamics by simulating fluid motion concepts such as velocity, viscosity, and turbulence. It helps traders identify potential buy and sell signals along with trend strength, momentum direction, and volatility conditions.
This study explains the underlying calculation concepts, signal logic, visual cues, and how to interpret the professional dashboard table that summarizes key indicator readings.
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How the FluidFlow Oscillator Works
Core Mechanisms
1. Price Flow Velocity
o Measures the rate of change of price over a specified flow length (default 40 bars).
o Calculated as a percentage change of closing price: roc=close−closelen_flowcloselen_flow×100\text{roc} = \frac{\text{close} - \text{close}_{len\_flow}}{\text{close}_{len\_flow}} \times 100roc=closelen_flowclose−closelen_flow×100
o Smoothed by an EMA (Exponential Moving Average) to reduce noise, generating a "flow velocity" value.
2. Viscosity Factor
o Analogous to fluid viscosity, it adjusts the flow velocity based on recent price volatility.
o Volatility is computed as the standard deviation of close prices over the flow length.
o The viscosity acts as a damping factor to slow down the flow velocity in highly volatile conditions.
o This results in a "flow with viscosity" value, that smooths out the velocity considering market turbulence.
3. Turbulence Burst
o Captures sudden changes or bursts in the flow by measuring changes between successive viscosity-adjusted flows.
o The turbulence value is a smoothed absolute change in flow.
o A burst boost factor is added to the oscillator to incorporate this rapid change component, amplifying signals during sudden shifts.
4. Oscillator Calculation
o The raw oscillator value is the sum of flow with viscosity plus burst boost, scaled by 10.
o Clamped between -100 and +100 to limit extremes.
o Finally, smoothed again by EMA for cleaner visualization.
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Signal Logic
The oscillator works with complementary components to produce actionable signals:
• Signal Line: An EMA-smoothed version of the oscillator for generating crossover-based signals.
• Momentum: The rate of change of the oscillator itself, smoothed by EMA.
• Trend: Uses fast (21-period EMA) and slow (50-period EMA) moving averages of price to identify market trend direction (uptrend, downtrend, or sideways).
Signal Conditions
• Bullish Signal (Buy): Oscillator crosses above the oversold threshold with positive momentum.
• Bearish Signal (Sell): Oscillator crosses below the overbought threshold with negative momentum.
Statuses
The oscillator provides descriptive market states based on level and momentum:
• Overbought
• Oversold
• Buy Signal
• Sell Signal
• Bullish / Bearish (momentum-driven)
• Neutral (no clear trend)
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Color System and Visualization
The oscillator uses a sophisticated HSV color model adapting hues according to:
• Oscillator value magnitude and sign (positive or negative)
• Acceleration of oscillator changes
• Smooth color gradients to facilitate intuitive understanding of trend strength and momentum shifts
Background colors highlight overbought (red tint) and oversold (green tint) zones with transparency.
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How to Understand the Professional Dashboard Table
The FluidFlow Oscillator offers an integrated table at the bottom center of the chart. This dashboard summarizes critical indicator readings in 8 columns across 3 rows:
Column Description
SIGNAL Current signal status (e.g., Buy, Sell, Overbought) with color coding
OSCILLATOR Current oscillator value (-100 to +100) with color reflecting intensity and direction
MOMENTUM Momentum bias indicating strength/direction of oscillator changes (Strong Up, Up, Sideways, Down, Strong Down)
TREND Current trend status based on EMAs (Strong Uptrend, Uptrend, Sideways, Downtrend, Strong Downtrend)
VOLATILITY Volatility percentage relative to average, indicating market activity level
FLOW Flow velocity value describing price momentum magnitude and direction
TURBULENCE Turbulence level indicating sudden bursts or spikes in price movement
PROGRESS Oscillator's position mapped as a percentage (0% to 100%) showing proximity to extreme levels
Rows Explained
• Row 1 (Header): Labels for each metric.
• Row 2 (Values): Current numerical or descriptive values color-coded along a professional scheme:
o Green or lime tones indicate positive or bullish conditions.
o Red or orange tones indicate caution, sell signals, or bearish conditions.
o Blue tones indicate neutral or stable conditions.
• Row 3 (Status Indicators): Emoji-like icons and bars provide a quick visual gauge of each metric's intensity or signal strength:
o For example, "🟢🟢🟢" suggests very strong bullish momentum, while "🔴🔴🔴" suggests strong bearish momentum.
o Progress bar visually demonstrates oscillator movement toward oversold or overbought extremes.
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Practical Interpretation Tips
• A Buy signal with green colors and strong momentum usually precedes upward price moves.
• An Overbought status with red background and red table colors warns of potential price corrections or reversals.
• Watch the Turbulence to gauge market instability; spikes may precede price shocks or volatility bursts.
• Confirm signals with the Trend and Momentum columns to avoid false entries.
• Use the Progress bar to anticipate oscillations approaching key threshold levels for timing trades.
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Alerts
The oscillator supports alerts for:
• Buy and sell signals based on oscillator crossovers.
• Overbought and oversold levels reached.
These help traders automate awareness of important market conditions.
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Disclaimer
The FluidFlow Oscillator and its signals are for educational and informational purposes only. They do not guarantee profits and should not be considered as financial advice. Always conduct your own research and use proper risk management when trading. Past performance is not indicative of future results.
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This detailed explanation should help you understand the workings of the FluidFlow Oscillator, its components, signal logic, and how to analyze its professional dashboard for informed trading decisions.
Daily 6 AM & 8 AM CST Linesit help so you can figure out 6am and 8am on cst time in americas very fast.
CVDD Z-ScoreCumulative Value Days Destroyed (CVDD) - The CVDD was created by Willy Woo and is the ratio of the cumulative value of Coin Days Destroyed in USD and the market age (in days). While this indicator is used to detect bottoms normally, an extension is used to allow detection of BTC tops. When the BTC price goes above the CVDD extension, BTC is generally considered to be overvalued. Because the "strength" of the BTC tops has decreased over the cycles, a logarithmic function for the extension was created by fitting past cycles as log extension = slope * time + intercept. This indicator is triggered for a top when the BTC price is above the CVDD extension. For the bottoms, the CVDD is shifted upwards at a default value of 120%. The slope, intercept, and CVDD bottom shift can all be modified in the script.
Now with the automatic Z-Score calculation for ease of classification of Bitcoin's valuation according to this metric.
Created for TRW.
Previous Day Liquidity ZonesThis indicator is designed for intraday liquidity-based trading strategies and helps traders identify high-probability reversal or breakout zones based on smart money concepts.
It automatically plots the:
🟥 Previous Day High Zone – potential buy-side liquidity trap
🟩 Previous Day Low Zone – potential sell-side liquidity trap
🟧 Previous Day Close Zone – potential rebalancing or indecision zone
These levels are critical areas where institutional stop-hunting, reversals, and fake breakouts often occur.
🎯 How to Use
Use this indicator on 1-minute or 5-minute charts for stocks, indices (like NIFTY, BANKNIFTY), or forex.
Watch for price entering these zones during live market hours.
Combine with price action confirmation:
Rejection wicks
Engulfing candles
Change of character (CHoCH) or BOS
Fair Value Gaps (FVG)
First 5-minute candle (9:15 AM in Indian market) is highlighted for breakout setups.
🧠 Smart Money Logic
These zones mimic the logic used by institutions to:
Trigger retail stop-losses
Reverse market direction near liquidity pools
Trap breakout traders around session extremes
⚙️ Features
Configurable zone width (%)
Visual fill zones with subtle shading
Support for all assets and timeframes
Highlights first candle of day to assist with pre-trade bias
✅ Ideal For:
Smart money traders
ICT / Wyckoff / SMC followers
Breakout trap or reversal strategy users
Anyone who trades key session levels
⚠️ Disclaimer
This is an informational tool. Always use confirmation and sound risk management before executing any trade.
ICT Dealing RangeICT Dealing Range
This indicator identifies and plots ICT (Inner Circle Trader) Dealing Ranges - key institutional areas where smart money accumulates or distributes positions before significant moves.
What is a Dealing Range?
A Dealing Range is a significant price area where institutional traders accumulate or distribute their positions. These ranges form through a specific sequence of price movements that indicate institutional order flow:
Bullish Dealing Range Sequence:
1. Initial High (H)
2. Initial Low (L)
3. Higher High (HH)
4. Lower Low (LL)
5. Break above HH (confirmation)
Bearish Dealing Range Sequence:
1. Initial Low (L)
2. Initial High (H)
3. Lower Low (LL)
4. Higher High (HH)
5. Break below LL (confirmation)
My Trading Strategy
Entry Methods:
1. Range Extreme Retests:
- After range formation, wait for price to return to either extreme
- Long entries at range bottom with stops below
- Short entries at range top with stops above
2. Mid-Line Strategy:
- Use the mid-line as a pivot point for reversals
- Long entries on mid-line bounce with stops below
- Short entries on mid-line rejection with stops above
Stop Loss Placement:
- When entering at extremes: Place stops beyond the mid
- When entering at mid-line: Place stops beyond the opposing extreme
- Always respect the structure's boundaries
Take Profit Targets:
- Minimum 2:1 Risk-Reward ratio
- For extreme entries: Target the opposite extreme
- For mid-line entries: Target the nearest extreme
Risk Management
- Never enter without a clear invalidation point
- Maintain minimum 2:1 RR ratio
- Consider market structure and higher timeframe context
Indicator Features
- Auto-detection of dealing range patterns
- Color-coded boxes (green for bullish, red for bearish)
- Optional mid-line display
- Customizable colors and styles
- Adjustable pivot lookback periods
Notes
This tool is based on ICT concepts but should be used in conjunction with other forms of analysis. The dealing range provides a framework for understanding institutional order flow, but proper risk management and market context are essential for successful trading.
Remember: The best trades often come from clean retests of these ranges after their initial formation. Patience in waiting for proper setups is key to successful implementation.
ADMAThe ADMA indicator is a technical analysis tool designed to identify trends and potential reversal points in a financial market. The indicator is based on the cumulative difference between the closing price and the high and low points of a candle. Two moving averages (MAs) are used to smooth the trend dynamics and generate clear signals.
Calculation:
The indicator calculates the trend as the cumulative difference between the current closing price and the maximum (or minimum) value of the current and previous candle, depending on market development.
The ADMA indicator is particularly useful for recognizing market dynamics and making trading decisions based on them. By using double smoothing, false signals are reduced, and the signals generated by the indicator are clear and easy to interpret. It is a flexible tool that can be adapted to different trading strategies.
FXN - Week and Day Separator midnight open. A simple modification of the regular FXN day separator indicator. It starts the days at 12:00 of the time-zone you select as opposed to the regular 17:00 server time.
Unlocking the Power of Long Candle MidpointI'm excited to share with you a fascinating concept that can help you identify potential breakout points in the market.
The Pine Script code provided below is designed to identify the midpoint of a long candle, which can be a crucial level for traders to watch.
In this blog post, we'll dive deeper into the concept, explore its applications, and analyze a real-life example of TATACHEM listed on NSE, which is currently trading around a potential psychology line.
What is the Long Candle Midpoint?
The long candle midpoint is a technical indicator that calculates the midpoint of a candlestick that has a significant price movement. This midpoint is then used to draw a horizontal line, which can serve as a potential support or resistance level. The idea is that if a candlestick has a large price movement, it's likely that the market will react to this movement by testing the midpoint of the candle.
How Does the Long Candle Midpoint Indicator Work?
The Pine Script code provided above is designed to calculate the midpoint of a long candle based on the following parameters:
Length: The length of the candlestick is calculated using the len input parameter.
Line Length: The length of the line is calculated using the linExt input parameter.
Calculation Method: The calculation method can be set to either "Highest True Range", "Average True Range", or "Both".
Multiplier: The multiplier is used to adjust the midpoint calculation based on the average range of the candlestick.
The script then plots a horizontal line at the midpoint of the long candle, which can be used as a potential support or resistance level.
Real-Life Example:
Let's take a look at TATACHEM, a stock listed on the National Stock Exchange of India (NSE). As you can see in the chart below,
TATACHEM has been trading around a potential psychology line drawn from the midpoint of a large candle.
As you can see, the stock has previously failed to break above this line, but it's currently trading around it. This could be a sign that the market is preparing for a potential breakout. If the stock can break above this line, it could lead to a bullish rally.
Conclusion
The long candle midpoint indicator is a powerful tool that can help traders identify potential breakout points in the market. By analyzing the midpoint of a long candle, traders can gain insights into the market's sentiment and potential areas of support or resistance.
In the case of TATACHEM, the stock is currently trading around a potential psychology line, which could be a sign of a potential breakout. Traders can consider this point in their watch list for a potential entry. Tips for Traders
Use the long candle midpoint indicator in conjunction with other technical indicators to gain a more comprehensive understanding of the market.
Look for confirmation from other indicators before entering a trade.
Set stop-loss and take-profit levels based on the potential breakout point.
Monitor the market closely and be prepared to adjust your strategy if the market doesn't behave as expected.
By incorporating the long candle midpoint indicator into your trading strategy, you can gain an edge in the market and make more informed trading decisions.
Williams Percent Range with Trendlines and BreakoutsHere is my "Williams Percent Range with Trendlines and Breakouts" indicator, a simple yet powerful tool for traders. This indicator combines the classic Williams %R oscillator, which helps identify overbought and oversold levels, with added trendlines for easier trend analysis at a glance.
It's designed to make spotting potential breakouts easier by drawing attention to significant price movements. With customizable settings for the Williams %R period and trendline sensitivity, it's a flexible tool for various symbols and trading styles.
Whether you're looking to refine your trading strategy or just need a clearer view of market trends, this indicator should offer a straight forward approach to hopefully enhance your trading decisions.
Disclaimer: This indicator is intended for educational and informational purposes only. Always conduct your own research and analysis before making trading decisions.
Average Daily Range (ADR) (Multi Timeframe, Multi Period)Average Daily Range (ADR)
(Multi Timeframe, Multi Period, Extended Levels)
Tips
• Narrow Zones are an indication of breakouts. It can be a very tight range as well.
• Wider Zones can be Sideways or Volatile.
What is this Indicator?
• This is Average Daily Range (ADR) Zones or Pivots.
• This have Multi Timeframe, Multi Period (Up to 3 Levels) and Extended Target Levels.
Advantages of this Indicator
• This is a Leading indicator, not Dynamic or Repaint.
• Helps to identify the reversal points.
• The levels are more accurate and not like the old formulas.
• Can practically follow the Buy Low and Sell High principle.
• Helps to keep minimum Stop Loss.
Who to use?
• Highly beneficial for Day Traders
• It can be used for Swing and Positions as well.
What timeframe to use?
• Any timeframe.
When to use?
• Any market conditions.
How to use?
Entry
• Long entry when the Price reach at or closer to the Green Support zone.
• Long entry when the Price retrace to the Red Resistance zone.
• Short entry when the Price reach at or closer to the Red Resistance zone.
• Short entry when the Price retrace to the Green Support zone.
• Long or Short at the Pivot line.
Exit
• Use past ADR levels as targets.
• Or use the Target levels in the indicator for breakouts.
• Use the Pivot line as target.
• Use Support or Resistance Zones as targets in reversal method.
What are the Lines?
Gray Line:
• It the day Open or can be considered as Pivot.
Red & Green ADR Zones:
• Red Zone is Resistance.
• Green Zone is Support.
• Mostly price can reverse from this Zones.
• Multiple Red and Green Lines forms a Zone.
• These lines are average levels of past days which helps to figure out the maximum and minimum price range that can be moved in that day.
• The default number of days are 5, 7 and 14. This can be customized.
Red & Green Target Lines:
• These are Target levels.
What are the Labels?
• First Number: Price of that level.
• Numbers in (): Percentage change and Change of price from LTP (Last Traded Price) to that Level.
General Tips
• It is good if Stock trend is same as that of the Index trend.
• Lots of indicators creates lots of confusion.
• Keep the chart simple and clean.
• Buy Low and Sell High.
• Master averages or 50%.
