This Script code is used to plot support and resistance levels on a chart. Here's how it works: Input Parameters: The code starts by defining an input parameter lookback_period, which determines the number of bars to look back when calculating support and resistance levels. You can adjust this parameter based on your preferences or trading strategy. I recommend...
This Pine Script code is designed to identify Morning Star and Evening Star candlestick patterns on a chart. Here's how it works: Calculate Candle Body and Wick Sizes: The script calculates the size of the candle body and wick based on the difference between the close and open prices, as well as the difference between the high and the maximum of the close and...
What the indicator does This indicator, named "ICT AMD indicator", is designed for traders who follow the ICT (Inner Circle Trader) theory, focusing on identifying and visualizing phases of market structure related to Accumulation, Manipulation, and Distribution. These phases are crucial for understanding the market's direction and potential turning points. The...
Indicator on Trading Chart: Once you add this script to your trading chart (specifically a WTI Crude Oil chart), it appears as an indicator. This means it runs alongside the price data and other technical analysis tools you might be using. Input Your Trading Parameters: Balance (USD): You need to enter your trading account balance in USD. This is the amount of...
🔵 Introduction One of the patterns in "RTM" is the "QM" pattern, also known as "Quasimodo". Its name is derived from the appearance of "Hunchback of Notre-Dame" from Victor Hugo's novel. It is a type of "Head and Shoulders" pattern. 🔵 Formation Method 🟣 Upward Trend In an upward trend, the left shoulder is formed, and the price creates a new peak higher...
Open Liquidity Heatmap is an indicator designed to display accumulated resting liquidity on the chart. Unlike any other liquidity heatmap, this aims to accumulate liquidity at specific levels that build up over time, showing larger areas of liquidity. 🔶 FEATURES The indicator includes the following settings: Lookback : Used to determine the range...
💎 GENERAL OVERVIEW Introducing our new Fibonacci Inversion Fair Value Gaps (IFVG) indicator! Inverse Fair Value Gaps occur when a Fair Value Gap becomes invalidated. They reverse the role of the original Fair Value Gap, making a bullish zone bearish and vice versa. This indicator plots the Fibonacci retracement levels of the IFVG, which often act like support &...
The GG Levels indicator is a tool designed for day trading U.S. equity futures. It highlights key levels intraday, overnight, intermediate-swing levels that are relevant for intraday futures trading. Terminology RTH (Regular Trading Hours): Represents the New York session from 09:30 to 17:00 EST. ON Session (Overnight Session): Represents the trading activity...
Indicator Name: Timeframe Accumulation Analyzer (by TradersTavern) Overview: The "Timeframe Accumulation Analyzer" by TradersTavern offers traders a sophisticated tool for comprehensive market analysis. With its intuitive interface and powerful features, this indicator enables traders to gain deep insights into market dynamics across multiple timeframes. ...
🔶Description: The "Double Tops/Bottoms " indicator is designed to identify potential double tops and double bottoms on price charts. These patterns are often considered significant as they may indicate a reversal in the prevailing trend. The indicator can be applied to both high/low and close price data, offering flexibility in analyzing different aspects of...
This tool draws pennant patterns including targets and stops. The green line is your entry and the red line is your stop, it works in both the normal and inverted function to find both shorts and longs. How does its code work? This tool finds the lowest three points and the highest three points in a specific sequence to draw out a pennant triangle. It will draw...
1. Input Parameters: FlagLength: Determines the length of the flag pattern. TakeProfit1Ratio, takeProfit2Ratio, takeProfit3Ratio: Define the ratios for calculating the take-profit levels relative to the entry price. RiskRewardRatio: Specifies the risk-reward ratio for calculating the stop-loss level relative to the entry price. 2 Flag...
This is the never go back linear regresssion Indicator. Its based on a linear regression of the never look back values. Its like a logarithmic linear regression but on reverse choosing only the tops. The code is based on Alllanster Never Going Back again Script and Ricardo Santos linear regression script
The Asia Liquidity Points Indicator is a powerful tool designed for traders to identify key liquidity points during the Asia trading session. This script is tailored specifically to aid traders in capitalizing on the unique characteristics of Asian markets, providing invaluable insights into liquidity zones that can significantly enhance trading decisions. Key...
The Range Trade Algorithm calculates the levels for Monday. On the chart you will see that the Monday levels will be marked as 1 0 -1. The M High level calculates Monday's high close and plots it on the screen. M Low calculates the low close of Monday and plots it on the screen. The coloured lines on the screen are the points of the range levels formulated...
Description: The Breaker Blocks Finder is a sophisticated tool designed for traders who seek to identify key market structures algorithmically. This indicator meticulously scans for both bullish and bearish breaker blocks, visually delineating them on the chart for easy identification. Exploring ICT Breaker Blocks: Enhancing Your Trading with Precision...
This indicator marks Break of Structure (BoS) and Change of Character (ChoCh) in the price structure on your charts. It runs on any timeframe. This indicator is useful for determining if you are seeing a trend change in the market or if you are only seeing a pullback with the market continuing in the direction of the trend. The indicator will look for price to...
💎 GENERAL OVERVIEW Introducing our new Trend Channels (MTF) indicator! Latest trends play an important role for traders and sometimes it can be hard to spot trends in other timeframes. This indicator can plot latest trend channels across different timeframes, so you can spot trends and their channels easier. More info about the process in the "How Does It Work" ...