[blackcat] L3 Magic-9 Sequential Setup

19 thg 4

OVERVIEW

The [blackcat] L3 Magic-9 Sequential Setup indicator is designed to identify potential reversal points in the market using a sequential pattern analysis. This script plots specific labels on the chart based on predefined conditions, helping traders spot key levels where price reversals might occur 📉↗️.

FEATURES

Identifies consecutive occurrences of price movements above or below certain thresholds.
Plots labeled markers on the chart for easy visualization:
Red Labels: Indicate potential sell signals (e.g., '5', '6', '7', etc.).
Green Labels: Indicate potential buy signals (e.g., '5', '6', '7', etc.)
Uses custom functions to filter and count occurrences over specified lookback periods ⚙️.
Changes bar colors based on detected signals for enhanced visual cues 🎨.
Supports extensive customization through input parameters for fine-tuning the setup.

HOW TO USE

Add the indicator to your TradingView chart by selecting it from the indicators list.
Observe the plotted labels ('5', '6', '7', etc.) indicating potential reversal zones.
Pay attention to bar color changes that confirm the identified patterns.
Combine this indicator with other tools for confirmation before making trading decisions.

LIMITATIONS

The indicator relies heavily on sequential patterns, which may not capture all market nuances.
False signals can occur in ranging or sideways markets 🌪️.
Users should always confirm signals with other forms of analysis.

NOTES

Ensure that you have sufficient historical data available for accurate calculations.
Test the indicator thoroughly on demo accounts before applying it to live trading 🔍.
Customize input parameters as needed to fit your trading strategy.

22 thg 4

Phát hành các Ghi chú

OVERVIEW
This script implements a unique pattern recognition system for identifying sequential trends in candlestick patterns. The L3 Magic-9 algorithm scans for consecutive bullish/bearish sequences using a proprietary method that combines 3-tiered analysis (L1-L3). It generates visual alerts through colored labels at strategic price levels, helping traders spot potential trend reversals or continuations. The system operates on a max bars back of 4000 and supports up to 500 labels for detailed tracking.

FEATURES
📌 Key Patterns

Detects 5/6/7/8/9/12/13-length consecutive sequences
Uses dual confirmation logic for high/low thresholds
Includes directional arrows (↓/↑) for clarity
🔍 Technical Indicators

Magic-9 sequence validator
Label inversion based on signal direction
Real-time overlay with conditional coloring
HOW TO USE

Activation: Requires at least 13 bars of non-NaN data
Interpretation:
Red labels indicate bearish sequences (↓ arrows)
Green labels show bullish sequences (↑ arrows)
Numerical labels (5-13) denote sequence lengths
Alerts: Look for clusters of same-colored labels as potential trend signals
⚠️ LIMITATIONS

Relies on historical price continuity
May produce false positives during volatile markets
Best suited for intraday/short-term trading strategies
NOTES

Original code by blackcat1402
Customizable via input parameters (length_input)
Works optimally on timeframes ≥4-hour charts
Consider combining with volume indicators for better accuracy
THANKS
Special thanks to the TradingView community for continuous feedback and support!