Price Action Indicator

8 thg 11

This indicator is based on Price Action

• Trend bar would be filled with Red/Green
  
• Reversal bar would be tagged
  

8 thg 11

Phát hành các Ghi chú

• Enhance Trend Bar accuracy
  
• Enhance Reversal Bar accuracy
  
• Three EMA 20 in 5m, 15m and 60m respectively
  

9 thg 11

Phát hành các Ghi chú

Al Brooks Price Action Indicator – Bar-by-Bar Analysis for Serious Traders

This indicator faithfully implements the core price action concepts from Al Brooks’ legendary four-book series:

1. Reading Price Charts Bar by Bar
2. Trading Price Action Trends
3. Trading Price Action Ranges
4. Trading Price Action Reversals

No moving averages. No oscillators. Just pure bar-by-bar logic — exactly as Al Brooks teaches.

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Core Features (100% Book-Accurate)

[anchor=trend]Trend Bars (Strong Bull/Bear)[/anchor]

• Close above open (bull) / below open (bear)
  
• Body ≥ 50% of range (Trends, p.27)
  
• Closes in top 40% (bull) / bottom 40% (bear) (Trends, p.28)
  
• Must be 50% larger than average of prior 3 bars → ensures it "stands out" (Trends, p.29)
  

[anchor=rev]Reversal Bars (Single Bar Reversals)[/anchor]

• Creates new low (bull) / new high (bear) vs prior bar
  
• Closes in upper half (bull) / lower half (bear) (Reversals, p.312)
  
• Long tail on reversal side, short tail on close side (Reversals, p.314–315)
  
• Blocked in trading ranges — only valid when overlap with prior bar ≤ 50% (Ranges, p.112)
  

[anchor=patterns]Inside/Outside Patterns[/anchor]

• ii: Two inside bars — second smaller than first
  
• oo: Two outside bars — second larger than first + strong body
  
• ioi: Inside → Outside → Inside (highlighted with blue polyline)
  
• Visual polyline boxes connect all bars in pattern
  

[anchor=ema]Multi-Timeframe EMA 20[/anchor]

• 5m (orange), 15m (teal), 60m (blue) — step lines for context
  

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Why This Indicator Is Different

• No EMA filters on bar size — uses relative bar strength (prior 3-bar avg × 1.5)
  
• No volume, no RSI, no MACD — pure price action
• Reversals disabled in ranges — avoids 70% traps (Ranges, p.89)
  
• ii/oo/ioi drawn bar-by-bar with polylines — exactly how Al draws on charts
  

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How to Use (Al Brooks Style)

1. Trend Bar in Trend → Add to position
   
2. Reversal Bar at EMA or Range Extreme → Enter with stop beyond tail
   
3. ii in Pullback → Anticipate continuation
   
4. ioi at Support/Resistance → High-probability reversal setup
   

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Settings

• Toggle patterns & reversals
  
• Adjust label size, line style, fill opacity
  
• Max consecutive inside/outside bars (2–10)
  

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Philosophy
> “Every bar is a battle between buyers and sellers. The shape tells you who won — and how strongly.”
> — Al Brooks, Reading Price Charts Bar by Bar

This indicator doesn’t predict.
It translates the battle — bar by bar — just like Al does.

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For Serious Traders Only
If you’ve read the books, this is your live annotation tool.
If you haven’t — start with the books. This indicator won’t make sense without them.

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9 thg 11

Phát hành các Ghi chú

Update Notes

Trend Bars now require the bar to be 50% larger than the average range of the prior 3 bars — directly implementing Al Brooks' "stand out" rule (Trends, p.29).

Reversal Bars are disabled inside trading ranges (overlap with prior bar > 50%) — avoids 70% traps as taught in Ranges (p.89, p.112).

Removed volume condition from reversals — volume is helpful but not required (Reversals, p.89).

Reversal logic simplified to single bar only: new extreme, close in opposite half, long tail/short tail — 100% per Reversals (p.312–315).

ii/oo/ioi patterns preserved with bar-by-bar polyline drawing; ioi uses strict size ratios (0.5 / 1.2) as practical extension of Brooks’ "larger/smaller" concept.

10 thg 11

Phát hành các Ghi chú

Add High/Low bar Indicator

11 thg 11

Phát hành các Ghi chú

• Update to new High/Low bar count (2023)
  
• Update Bull/Rev tag style
  

12 thg 11

Phát hành các Ghi chú

• Fix High/Low Bar count
  

14 thg 11

Phát hành các Ghi chú

1. Fix Bar Count
   
2. Add Bar No. below bars, blue when US market opens
   

14 thg 11

Phát hành các Ghi chú

fix

17 thg 11

Phát hành các Ghi chú

• Optimize Parameters Input
  
• Optimize Labels for clean display
  

18 thg 11

Phát hành các Ghi chú

1. Fix Inside/Outside bar patterns bug
   
2. Limit the three EMA20 lines only to be displayed under 5m timeframe
   

6 ngày trước

Phát hành các Ghi chú

Consolidate all price action indicators into one