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    • Loner S/R
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  1. Tradingview Indicators

Loner S/R

PreviousCrypto Screener

Last updated 1 year ago

1. Average True Range (ATR) Settings and Trade Style Adjustment

  • ATR Length: Sets the period over which the Average True Range (ATR) is calculated, affecting volatility measurements.

  • Trade Style: Allows users to select between Scalping, Normal, and Swing trading styles. Each style adjusts the ATR factor, which in turn affects the calculation of support/resistance levels. Scalping uses a smaller ATR factor for tighter levels, while Swing opts for a larger factor to accommodate wider price movements.

2. Support/Resistance (S/R) Configuration

  • S/R Ribbon Display: Toggles the visualization of a ribbon that indicates dynamic support and resistance levels.

  • Previous S/R Levels: Controls whether past support and resistance lines are displayed on the chart, helping traders to see historical price barriers.

  • Line Numbers and Candle Numbers: Determine how many lines represent S/R levels and over how many candles these levels should be calculated, providing flexibility in how support and resistance are visualized.

3. Signals

  • Exhaustion Signals: Identifies potential points of market exhaustion where a price movement could reverse, based on specific conditions like the number of bars moving in one direction followed by a sudden opposite move.

  • Moon Cycles: Optionally includes lunar phases as part of the analysis, suggesting that moon cycles may have an influence on market behavior.

  • Square Root Signals: Uses a unique method involving square root calculations to identify potential market turning points.

  • P9 Signals: Marks significant candlestick patterns (like the ninth candle in a sequence) that could indicate a strong buying or selling opportunity.

4. Trend Identification and Management

  • Trend Direction and Reversal: Uses ATR-based calculations to establish trend direction and identify potential reversal points. This section dynamically adjusts trailing stop levels based on the trend.

  • Buy/Sell Signals: Generates visual buy or sell signals on the chart when a potential trend reversal is identified, aiding in decision-making.

5. Fibonacci Levels and S/R Ribbon

  • Dynamic Calculation: Calculates Fibonacci levels dynamically based on the current market conditions and trend, providing areas of potential support and resistance.

  • Ribbon Visualization: Displays a ribbon between two calculated Fibonacci levels, offering a visual representation of key areas to watch for price action.

6. Spread Analysis

  • Spot/Futures Spread: Analyzes the price difference between spot markets and various futures contracts. This can indicate market sentiment or arbitrage opportunities.

  • Spread Alerts: Generates alerts when the spread crosses certain thresholds, potentially signaling a trading opportunity.

Each section of this script contributes to a comprehensive analysis tool for traders, combining traditional technical analysis methods with unique indicators and visual aids to assist in decision-making across different market conditions and trading styles.