Indicator TradingView -- 2
Budget: $250 – $750 USD
I need a highly customizable trading indicator that allows users to define custom dead zones based on specific price levels. Users input pairs of price levels, which the indicator processes vertically to create multiple dead zones. Each dead zone is represented as a rectangle on the chart.
1. Regular Buy/Sell Signals:
• Condition: Price enters a dead zone and then immediately leaves the zone (closes above for long positions, below for short positions).
• Optional Inside Bounce Signals: Users can choose to enable inside bounce signals. If price touches the top of the dead zone from inside and immediately goes bearish, a sell signal is generated. If price touches the bottom of the dead zone from inside and starts to recover and bounce, indicating a bullish momentum, a buy signal is generated.
2. Choppy Buy/Sell Signals (Side Chop Signals):
• Condition: Price moves sideways on the bottom (or top) of the zone after entering it, creating a choppy pattern with alternating closes above and below the zone. Wait for the first bullish/bearish break of structure or change of character within the choppy pattern.
• Action: Generate a choppy buy/sell signal (side chop signal) based on the direction of the confirmed break of structure or change of character.
3. Additional Features:
• Users can create multiple dead zones by inputting multiple pairs of price levels.
• Users can specify whether a signal should be considered a long or short position based on the confirmed break of structure or change of character within the choppy pattern.
• Optional Confirmation Signal: Users can choose to enable Luxalgo’s indicator for market structure shift or change of character as an additional confirmation for the buy/sell signals.
This indicator should be user-friendly, allowing traders to easily define their trading zones and receive accurate and timely buy/sell signals based on the specified criteria.
1. Regular Buy/Sell Signals:
• Condition: Price enters a dead zone and then immediately leaves the zone (closes above for long positions, below for short positions).
• Optional Inside Bounce Signals: Users can choose to enable inside bounce signals. If price touches the top of the dead zone from inside and immediately goes bearish, a sell signal is generated. If price touches the bottom of the dead zone from inside and starts to recover and bounce, indicating a bullish momentum, a buy signal is generated.
2. Choppy Buy/Sell Signals (Side Chop Signals):
• Condition: Price moves sideways on the bottom (or top) of the zone after entering it, creating a choppy pattern with alternating closes above and below the zone. Wait for the first bullish/bearish break of structure or change of character within the choppy pattern.
• Action: Generate a choppy buy/sell signal (side chop signal) based on the direction of the confirmed break of structure or change of character.
3. Additional Features:
• Users can create multiple dead zones by inputting multiple pairs of price levels.
• Users can specify whether a signal should be considered a long or short position based on the confirmed break of structure or change of character within the choppy pattern.
• Optional Confirmation Signal: Users can choose to enable Luxalgo’s indicator for market structure shift or change of character as an additional confirmation for the buy/sell signals.
This indicator should be user-friendly, allowing traders to easily define their trading zones and receive accurate and timely buy/sell signals based on the specified criteria.