Auto Candlestick Patterns Targets Setup🔷 OVERVIEW
Auto Candlestick Pattern Targets automatically identifies supported candlestick reversal patterns and displays a complete trade setup directly on the chart. When a qualifying pattern is detected, the indicator plots an Entry level, Stop Loss, and up to three Take Profit levels based on its internal calculation logic.
The objective is to reduce the amount of manual chart work by presenting trade levels in a consistent visual format.
🔷 HOW IT WORKS
The indicator continuously evaluates completed candles for supported bullish and bearish candlestick formations.
When the pattern conditions are satisfied, it:
• Displays a Buy or Sell label
• Calculates an Entry level
• Places a Stop Loss based on the detected pattern
• Projects three Take Profit targets
Each setup remains visible on the chart, allowing users to review historical signals and monitor active trades.
🔷 VISUAL FEATURES
• Automatic Buy and Sell labels
• Entry level
• Stop Loss level
• Three Take Profit targets
• Risk and reward visualization
• Historical signal display
• Configurable colors and styles
🔷 INPUTS
The indicator includes options to customize:
• Signal sensitivity
• Display of Entry, Stop Loss, and Targets
• Label visibility
• Colors
• Historical setup display
🔷 USAGE
A common workflow is:
Wait for a Buy or Sell signal.
Allow the signal candle to close.
Review the plotted Entry, Stop Loss, and Take Profit levels.
Combine the setup with your own market analysis before making trading decisions.
🔷 MARKETS
The indicator can be applied to:
• Forex
• Stocks
• Cryptocurrency
• Indices
• Commodities
It is compatible with multiple timeframes, depending on the user's trading approach.
🔷 NOTES
This indicator is intended as a chart analysis tool and does not predict future price movements. Trade setups are generated according to the indicator's programmed rules and should be evaluated alongside other forms of technical analysis and appropriate risk management. Indicator
Multi-Timeframe Strength Scanner [JOAT]Multi-Timeframe Strength Scanner
Introduction
The Multi-Timeframe Strength Scanner is an open-source indicator that combines higher timeframe trend analysis with current timeframe momentum indicators to create a comprehensive market strength assessment system. This mashup integrates ADX (Average Directional Index), Donchian Channels, VWAP (Volume Weighted Average Price), RSI divergence detection, and multi-timeframe EMA analysis into a unified scanner that identifies when trend strength aligns across multiple timeframes.
The indicator addresses a critical trading challenge: signals that look strong on one timeframe often fail because higher timeframes are moving in the opposite direction. By analyzing 15-minute, 1-hour, and 4-hour timeframes simultaneously while monitoring current timeframe momentum, this tool helps traders avoid counter-trend trades and identify high-probability setups where multiple timeframes align.
Chart showing multi-timeframe alignment dashboard and strength indicators on 15M timeframe
Why This Mashup Exists
This indicator combines five analytical frameworks that address different aspects of trend strength:
ADX Analysis: Measures trend strength regardless of direction using directional movement
Donchian Channels: Identifies breakouts and trend continuation using price extremes
VWAP: Shows institutional average price and volume-weighted fair value
RSI Divergence: Detects momentum exhaustion at current timeframe swing points
Multi-Timeframe EMAs: Confirms trend direction across 15M, 1H, and 4H timeframes
Each component serves a specific purpose: ADX quantifies trend strength, Donchian Channels identify breakout momentum, VWAP reveals institutional positioning, RSI divergences warn of reversals, and multi-timeframe EMAs ensure directional alignment. Together, they create a strength scanner that filters out weak, counter-trend setups and highlights only those with multi-timeframe confirmation.
The mashup is justified because these components use fundamentally different data (directional movement, price extremes, volume-weighted averages, momentum oscillators, moving averages) that respond to different market conditions. When they align, it indicates genuine trend strength rather than temporary momentum.
Core Components Explained
1. ADX Trend Strength System
ADX (Average Directional Index) measures trend strength on a scale of 0-100:
= ta.dmi(adxLength, adxLength)
// Trend strength classification
strongTrend = adx > adxThreshold // Default: 20
veryStrongTrend = adx > 40
extremeTrend = adx > 60
// Direction determination
bullishTrend = plus > minus
bearishTrend = minus > plus
ADX interpretation:
ADX < 20: Weak trend or ranging market - avoid trend-following strategies
ADX 20-40: Moderate trend strength - standard trend-following viable
ADX 40-60: Strong trend - high-probability trend continuation
ADX > 60: Extreme trend - potential exhaustion or very strong momentum
The indicator plots ADX as a line with color coding:
Green: Strong bullish trend (ADX > 20, +DI > -DI)
Red: Strong bearish trend (ADX > 20, -DI > +DI)
Gray: Weak trend or ranging (ADX < 20)
2. Donchian Channel Breakout System
Donchian Channels track the highest high and lowest low over a specified period:
donchianLength = 20 // Configurable
upperChannel = ta.highest(high, donchianLength)
lowerChannel = ta.lowest(low, donchianLength)
midChannel = (upperChannel + lowerChannel) / 2
Breakout signals:
Bullish Breakout: Close above upper channel = new 20-bar high
Bearish Breakout: Close below lower channel = new 20-bar low
Channel Position: Price near upper channel = bullish strength, near lower = bearish strength
The indicator uses Donchian breakouts to confirm trend strength. When price breaks out of the channel with strong ADX, it signals high-momentum trend continuation.
3. VWAP Analysis
VWAP (Volume Weighted Average Price) calculates the average price weighted by volume:
vwap = ta.vwap(hlc3)
// Position analysis
aboveVWAP = close > vwap // Bullish positioning
belowVWAP = close < vwap // Bearish positioning
// Distance from VWAP
vwapDistance = ((close - vwap) / vwap) * 100
VWAP significance:
Institutional traders use VWAP as benchmark for execution quality
Price above VWAP = buyers in control, institutions paying premium
Price below VWAP = sellers in control, institutions getting discount
Large distance from VWAP = potential mean reversion opportunity
VWAP acts as dynamic support/resistance level
The indicator plots VWAP with dynamic coloring based on price position and uses it for trend confirmation.
4. RSI Divergence Detection
The indicator detects divergences using pivot-based analysis:
rsi = ta.rsi(close, 14)
// Identify swing points
pivotHigh = ta.pivothigh(rsi, 5, 5)
pivotLow = ta.pivotlow(rsi, 5, 5)
// Compare current pivot with previous pivot
bullishDivergence = price makes lower low AND rsi makes higher low
bearishDivergence = price makes higher high AND rsi makes lower high
Divergence types:
Regular Bullish: Price LL, RSI HL - momentum improving, potential reversal up
Regular Bearish: Price HH, RSI LH - momentum deteriorating, potential reversal down
Hidden Bullish: Price HL, RSI LL - trend continuation signal in uptrend
Hidden Bearish: Price LH, RSI HH - trend continuation signal in downtrend
Divergences are marked with "DIV" labels and used to warn of potential trend exhaustion or continuation.
5. Multi-Timeframe EMA Analysis
The indicator analyzes trend direction across three higher timeframes:
// Request higher timeframe data
htf15mEMA = request.security(syminfo.tickerid, "15", ta.ema(close, 21))
htf1hEMA = request.security(syminfo.tickerid, "60", ta.ema(close, 21))
htf4hEMA = request.security(syminfo.tickerid, "240", ta.ema(close, 21))
// Determine trend direction
htf15mBullish = close > htf15mEMA
htf1hBullish = close > htf1hEMA
htf4hBullish = close > htf4hEMA
// Count aligned timeframes
bullishCount = (htf15mBullish ? 1 : 0) + (htf1hBullish ? 1 : 0) + (htf4hBullish ? 1 : 0)
bearishCount = (!htf15mBullish ? 1 : 0) + (!htf1hBullish ? 1 : 0) + (!htf4hBullish ? 1 : 0)
Alignment classification:
STRONG BULL: All 3 timeframes bullish (3/3 alignment)
BULL: 2 out of 3 timeframes bullish
MIXED: Timeframes conflicting (1-1-1 or 2-1 split)
BEAR: 2 out of 3 timeframes bearish
STRONG BEAR: All 3 timeframes bearish (3/3 alignment)
Example showing multi-timeframe alignment dashboard with all three timeframes bullish
Strength Scoring System
The indicator calculates a comprehensive strength score (0-100) by evaluating:
Strength Score Components:
- ADX Strength: Up to 25 points (ADX > 40 = 25, ADX > 20 = 15, ADX < 20 = 0)
- ADX Direction: Up to 15 points (+DI > -DI = 15 for bull, -DI > +DI = 15 for bear)
- Donchian Position: Up to 15 points (breakout = 15, near channel = 10, mid-channel = 5)
- VWAP Position: Up to 15 points (above VWAP = 15 for bull, below = 15 for bear)
- MTF Alignment: Up to 20 points (3/3 = 20, 2/3 = 13, 1/3 = 7)
- RSI Level: Up to 10 points (healthy range = 10, extreme = 5, divergence = -5)
Score interpretation:
80-100: Extremely strong trend - high-probability continuation
60-79: Strong trend - favorable for trend-following
40-59: Moderate trend - selective trend trades
20-39: Weak trend - caution, potential reversal
0-19: Very weak or counter-trend - avoid trend-following
The dashboard displays the strength score with color coding and individual component breakdown.
Visual Elements
ADX Line: Main trend strength indicator with dynamic coloring
+DI/-DI Lines: Directional movement indicators
ADX Threshold: Horizontal line at 20 (configurable)
Donchian Channels: Upper, middle, and lower channel lines
VWAP Line: Volume-weighted average price with dynamic coloring
Divergence Labels: "DIV" markers at RSI divergence points
Strength Bars: Background coloring based on strength score
Dashboard: Comprehensive table showing:
- Current strength score
- ADX value and direction
- Donchian position
- VWAP position
- MTF alignment (15M, 1H, 4H status)
- RSI level
- Overall trend classification
Chart showing strength dashboard with component breakdown and visual indicators
How Components Work Together
The mashup creates a layered strength analysis:
Layer 1 - Trend Strength: ADX quantifies how strong the trend is
Layer 2 - Breakout Momentum: Donchian Channels identify momentum surges
Layer 3 - Institutional Positioning: VWAP shows where smart money is positioned
Layer 4 - Momentum Health: RSI divergences warn of exhaustion
Layer 5 - Multi-Timeframe Confirmation: HTF EMAs ensure directional alignment
Layer 6 - Synthesis: Strength score combines all factors into actionable metric
Example scenario: ADX is 45 (Layer 1), price breaks above Donchian upper channel (Layer 2), trading above VWAP (Layer 3), no RSI divergence (Layer 4), and all three higher timeframes are bullish (Layer 5). The strength score reaches 90 (Layer 6), signaling extremely strong bullish trend with high continuation probability.
Input Parameters
ADX Settings:
ADX Length: Period for ADX calculation (default: 14)
ADX Threshold: Minimum ADX for strong trend (default: 20)
Show +DI/-DI: Toggle directional indicators (default: enabled)
Donchian Settings:
Donchian Length: Period for channel calculation (default: 20)
Show Channels: Toggle channel display (default: enabled)
Breakout Sensitivity: Threshold for breakout signals (default: close beyond channel)
VWAP Settings:
Show VWAP: Toggle VWAP line (default: enabled)
VWAP Reset: Session, Week, Month, or Never (default: Daily)
Distance Alert: Alert when price moves X% from VWAP (default: 2%)
RSI Settings:
RSI Length: Period for RSI calculation (default: 14)
Show Divergences: Toggle divergence markers (default: enabled)
Pivot Lookback: Bars for pivot detection (default: 5)
Multi-Timeframe Settings:
HTF 1: First higher timeframe (default: 15 minutes)
HTF 2: Second higher timeframe (default: 1 hour)
HTF 3: Third higher timeframe (default: 4 hours)
EMA Length: Period for HTF EMAs (default: 21)
Min Alignment: Minimum timeframes aligned for signal (default: 2/3)
Display Options:
Show Dashboard: Toggle strength score table (default: enabled)
Show Strength Bars: Toggle background coloring (default: enabled)
Dashboard Position: Top-right, top-left, bottom-right, bottom-left
Color Theme: Choose between multiple color schemes
How to Use This Indicator
Step 1: Check Multi-Timeframe Alignment
Review the dashboard MTF section. Look for 2/3 or 3/3 alignment in your intended trade direction. Avoid trades when timeframes are mixed or opposing.
Step 2: Verify ADX Strength
Ensure ADX is above 20 (preferably above 30) for trend-following trades. ADX below 20 suggests ranging market where trend strategies underperform.
Step 3: Confirm Donchian Position
Check if price is near or breaking through Donchian channels. Breakouts with strong ADX signal high-momentum moves.
Step 4: Assess VWAP Position
For long trades, prefer price above VWAP. For short trades, prefer price below VWAP. Large distances from VWAP may indicate overextension.
Step 5: Check for Divergences
Look for RSI divergence warnings. If divergence appears with extreme strength score, consider taking profits or tightening stops.
Step 6: Review Strength Score
Use the overall strength score as final filter. Scores above 70 indicate strong trend conditions favorable for trend-following. Scores below 40 suggest caution.
Best Practices
Use on 5-minute to 1-hour timeframes for optimal multi-timeframe analysis
Wait for 2/3 or 3/3 MTF alignment before entering trend trades
Strong ADX (> 30) with MTF alignment produces highest-probability setups
Donchian breakouts with ADX > 25 often lead to sustained moves
VWAP acts as dynamic support/resistance - use for entry refinement
RSI divergences in strong trends often lead to pullbacks, not reversals
Strength score above 80 suggests strong trend continuation potential
Avoid trading when strength score is below 40 unless counter-trend trading
Combine with price action and key levels for precise entries
Indicator Limitations
ADX is lagging indicator - trend strength confirmed after move has started
Donchian breakouts can produce false signals in choppy markets
VWAP resets daily, may not reflect longer-term institutional positioning
Multi-timeframe analysis requires sufficient data history
Strength score is mathematical calculation, not prediction of future movement
Strong trends can reverse suddenly despite high strength scores
Divergences can persist for extended periods in strong trends
Higher timeframe data may repaint on lower timeframes
Requires understanding of trend analysis concepts for effective use
Technical Implementation
Built with Pine Script v6 using:
DMI/ADX calculation with directional indicators
Donchian Channel calculation with breakout detection
VWAP calculation with session reset options
Pivot-based RSI divergence detection
request.security() for multi-timeframe EMA analysis
Comprehensive strength scoring algorithm
Dynamic dashboard with component breakdown
Background coloring based on strength levels
The code is fully open-source and can be modified to adjust timeframes, thresholds, and scoring weights.
Originality Statement
This indicator is original in its multi-timeframe strength integration approach. While individual components (ADX, Donchian Channels, VWAP, RSI divergence, EMAs) are established tools, this mashup is justified because:
It combines trend strength measurement with multi-timeframe directional confirmation
The strength scoring system quantifies trend quality across multiple dimensions
Multi-timeframe analysis prevents counter-trend trades on lower timeframes
Integration of volume-weighted analysis (VWAP) with momentum indicators
Divergence detection provides early warning within trend strength context
Comprehensive dashboard presents complex multi-timeframe data clearly
Each component contributes unique information: ADX measures trend strength, Donchian identifies breakout momentum, VWAP shows institutional positioning, RSI divergences warn of exhaustion, and MTF EMAs ensure alignment. The mashup's value lies in filtering out weak, counter-trend setups and highlighting only those with genuine multi-timeframe strength confirmation.
Disclaimer
This indicator is provided for educational and informational purposes only. It is not financial advice or a recommendation to buy or sell any financial instrument. Trading involves substantial risk of loss and is not suitable for all investors.
Trend strength indicators are lagging tools that confirm trends after they've begun. Strong trends can reverse suddenly, and high strength scores do not guarantee trend continuation. Multi-timeframe analysis does not eliminate the risk of losses.
The strength score is a mathematical calculation based on current market data, not a prediction of future price movement. Past trend strength does not guarantee future performance. Market conditions change, and trends that appear strong can reverse without warning.
Always use proper risk management, including stop losses and position sizing appropriate for your account size and risk tolerance. Never risk more than you can afford to lose. Consider consulting with a qualified financial advisor before making investment decisions.
The author is not responsible for any losses incurred from using this indicator. Users assume full responsibility for all trading decisions made using this tool.
-Made with passion by officialjackofalltrades Indicator
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Ultra SessionsThe "Ultra Sessions" indicator is designed to enhance your trading strategy by clearly marking key market sessions and their associated "kill zones" directly on your chart. This powerful tool supports multiple time zones and provides customizable alerts for session opens, closes, and critical kill zones, ensuring you never miss important market movements.
Customizable Time Zones: Align the indicator with your local time by selecting from a wide range of global time zones.
Market Session Tracking: Visually track the New York, London, and Tokyo trading sessions with distinct color-coded markers.
Kill Zones: Highlight the high-volatility periods within each session to focus on key trading opportunities.
Alert System: Receive real-time alerts for session openings, closings, and kill zones, so you stay informed without constantly monitoring the chart.
Flexible Positioning: Choose the positioning of session markers to fit your chart layout, whether at the top or bottom.
Ideal for traders who want to optimize their entry and exit points by focusing on the most active and volatile times in the market, the indicator is a must-have for any serious trading setup. Indicator
Comprehensive Correlation Meter with Multiple MarketsThe Comprehensive Correlation Meter is designed to provide traders and investors with insights into the relationships between multiple financial instruments. This script expands upon an existing idea on PulseWire about correlation by introducing the ability to analyze the correlation between three markets, offering deeper insights into market relationships. It helps users understand how these markets move in relation to each other, aiding in risk management and portfolio diversification.
Key Features:
Multiple Market Analysis: This script allows you to analyze the correlation between your primary market and two other selected markets.
Customizable Inputs: Users can select any symbols for the reference and third markets, and these selections must be confirmed before use.
Correlation Coefficients: Calculates and plots the correlation coefficients for:
Current Market vs. Reference Market
Third Market vs. Reference Market
Current Market vs. Third Market
An average correlation of all three markets combined.
Visual Aids: Plots reference lines at +1, 0, and -1 to indicate maximum positive correlation, no correlation, and maximum negative correlation.
How It Works:
Input Symbols: Select the symbols for the reference and third markets. The current market is based on the chart you are viewing.
Data Collection: The script collects the closing prices of the selected markets and calculates the percentage changes.
Correlation Calculation: Using the collected data, the script computes the covariance and standard deviations to determine the correlation coefficients.
Visualization: The correlation coefficients and covariances are plotted for visual analysis.
How to Use:
Select Symbols:
Use the input fields to specify the reference and third market symbols. Confirm your selections to proceed.
Customize Display:
Choose whether to display the covariance, reference market, current market, and third market.
Select which correlation coefficients to display.
Interpret Results:
A correlation coefficient close to +1 indicates a strong positive correlation.
A coefficient close to -1 indicates a strong negative correlation.
A coefficient around 0 indicates little to no correlation.
Use these insights to manage risk and diversify your portfolio effectively.
Example Use Case:
Suppose you are trading the S&P 500 and want to understand its correlation with the NASDAQ 100 and a particular stock, such as Apple. By setting the S&P 500 as the reference market, the NASDAQ 100 as the third market, and observing the current market (Apple), you can see how these instruments move in relation to each other. This can help you decide on hedging strategies or identify opportunities for diversification. However this is Not a Financial advise Indicator
Market Pivot Levels [Past & Live]Market Levels provide a robust view of daily pivot points of markets such as high/low/close with both past and live values shown at the same time using the recently updated system of polylines of pinescript.
The main need for this script arose from not being able to use plots for daily points because plots are inherently once drawn can't be erased and because we can't plot stuff for previous bars after values are determined we can't use them reliably. And while we can use traditional lines, because we would have extremely high amount of lines and we would have to keep removing the previous ones it wouldn't be that effective way for us. So we try to do it with the new method of polylines .
Features of this script:
- Daily High/Low Points
- Yesterday High/Low/Close Points
- Pre-Market High-Low points.
Now let's preview some of the important points of code and see how we achieve this:
With the code below we make sure no matter which chart we are using we are getting the extended hours version of sessions so our calculations are made safely for viewing pre-market conditions.
// Let's get ticker extended no matter what the current chart is
tc = ticker.new(syminfo.prefix, syminfo.ticker, session.extended)
Coding our own function to calculate high's and low's because inbuilt pinescript function cannot take series and we send this function to retrieve our high's and lows.
// On the fly function to calculate daily highlows instead of tv inbuilt because tv's length cannot take series
f_highlow(int last) =>
bardiff = last
float _low = low, float _high = high
for i = bardiff to 0 by 1
if high > _high
_high := high
if low < _low
_low := low
With doing calculations at the bars of day ending points we can retrieve the correct points and values and push them for our polylines array so it can be used in best way possible.
// Daily change points
changeD = timeframe.change("D")
// When new day starts fill polyline arrays with previous day values for polylines to draw on chart
// We also update prevtime values with current ones after we pushed to the arrays
if changeD
f_arrFill(cpArrHigh, cpArrLow, prevArrh, prevArrl, prevArrc, prevMarh, prevMarl)
valHolder.unshift(valueHold.new(_high, _low, _high, _close, _low, time, pr_h, pr_l))
The rest of the code is annotated and commented. You can let me know in comments if you have any questions. Happy trading. Indicator
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