Indicator
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SmartPlusSmartPlus
Overview
The SmartPlus indicator is a complete framework for intraday traders. It combines key market reference points (VWAP, moving averages, and the first 15-minute high/low range) with predictive levels based on historical daily moves. Together, these elements allow traders to build directional bias, spot breakouts, and manage risk throughout the session.
Key Features
1. VWAP (Volume-Weighted Average Price)
- Plots the intraday VWAP in real time.
- VWAP acts as a central “fair value” reference point for institutional order flow.
- Price trading above VWAP generally suggests bullish bias, while below VWAP leans bearish.
2. Exponential Moving Averages (EMAs)
- Two configurable EMAs are included:
- Fast EMA (default: 21 periods)
- Slow EMA (default: 34 periods)
- Each EMA is plotted with a single, user-selectable color for clarity.
- Crossovers or alignment between price, VWAP, and EMAs help define market structure.
3. Smart Bar Coloring
- Candles automatically change color when conditions align:
- Bull Zone: Price above VWAP, Fast EMA, and Slow EMA.
- Bear Zone: Price below VWAP, Fast EMA, and Slow EMA.
- Fluorescent bar coloring helps highlight momentum zones visually without additional analysis.
4. First 15-Minute High/Low/Mid (Automatic)
- Automatically detects the first 15 minutes of each new trading day (no manual input required).
- Plots horizontal lines for:
- First 15-Minute High (green)
- First 15-Minute Low (red)
- Midpoint of that range (gray)
- Once the initial 15-minute window ends, these levels remain projected throughout the session as breakout or support/resistance zones.
- Alerts trigger when price breaks above the high or below the low after the window.
5. Daily Support/Resistance Forecast
- Uses a rolling lookback of recent daily ranges (default: 126 days).
- Tracks average up moves and down moves from the daily open.
- Optionally incorporates standard deviation for wider confidence bands.
- Plots forecast levels above/below the current day’s open for reference.
Trading Logic (How to Use)
- Bullish Bias:
- Price is above VWAP, above both EMAs, and ideally above the first 15-minute high.
- This setup suggests trend continuation or breakout opportunities on the long side.
- Bearish Bias:
- Price is below VWAP, below both EMAs, and ideally below the first 15-minute low.
- This setup suggests downward pressure or breakout opportunities on the short side.
- Neutral / Caution Zone:
- Price caught between VWAP, EMAs, or inside the 15-minute range often signals indecision.
- Best to wait for confirmation or breakout before committing to trades.
Expectations After Using It
- The script provides context and structure, not trading signals.
- It highlights where price is relative to meaningful market levels so traders can act with greater confidence.
- Combining VWAP, EMAs, and the 15-minute breakout framework helps traders stay aligned with the market’s natural rhythm.
Disclaimer
This script is a tool for market analysis and educational purposes only.
It does not constitute financial advice, trading recommendations, or guaranteed profitability.
Markets are inherently risky, and past patterns do not ensure future results.
Always combine this tool with sound risk management, personal research, and professional guidance before making any trading decisions.
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Fibonacci Pivot Points & Previous D,W&M Highs/LowsIndicator Overview
This indicator combines Fibonacci Pivot Points with previous high and low levels for different timeframes (day, week, month). It plots these levels on the chart to provide traders with key support and resistance areas, making it easier to identify potential trading opportunities.
Features
Fibonacci Pivot Points:
The indicator calculates pivot points based on the high, low, and close prices.
Fibonacci levels are used to determine support (S1, S2, S3, S4, S5) and resistance (R1, R2, R3, R4, R5) levels.
Users can customize the Fibonacci levels for both support and resistance.
Previous Highs and Lows:
The indicator plots previous day, week, and month high and low levels.
Each of these lines can be customized in terms of visibility, color, and width.
This helps traders to see key historical levels that might act as support or resistance in the future.
Inputs and Customization:
Fibonacci Time Frame:
Users can select the timeframe for calculating the pivot points (Daily, Weekly, Monthly).
Fibonacci Levels:
Customizable input fields for each Fibonacci level (R1, R2, R3, R4, R5, S1, S2, S3, S4, S5).
Previous High/Low Lines:
Day Lines:
Options to show or hide previous day's high/low lines.
Customizable color and width for these lines.
Week Lines:
Options to show or hide previous week's high/low lines.
Customizable color and width for these lines.
Month Lines:
Options to show or hide previous month's high/low lines.
Customizable color and width for these lines.
Technical Calculations:
Fibonacci Pivot Points:
Calculated as:
pp = (High + Low + Close) / 3
S1 = pp - ((High - Low) * Fibonacci Level)
R1 = pp + ((High - Low) * Fibonacci Level)
Previous High/Low Levels:
Uses request.security to fetch previous high and low values for the selected timeframe.
Plotted using line.new to draw lines across the chart.
Plotting:
The indicator plots Fibonacci Pivot Points and previous high/low lines on the chart, using distinct colors for each level.
Customizable transparency and linewidths make it easier to visually interpret the levels.
This indicator is particularly useful for traders who rely on technical analysis to identify key support and resistance levels, offering a blend of historical data and Fibonacci-based predictions.
Feel free to ask if you have any specific questions or need further adjustments! Indicator
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