OPEN-SOURCE SCRIPT
Pattern Multi-TF Dashboard
Pattern indicator is a comprehensive market analysis tool designed to identify the three primary phases of price action: Contraction, Expansion, and Trend. By combining technical momentum (ADX) with price range volatility, this script provides a "top-down" view of the market, allowing traders to see how lower-timeframe price action fits into the broader market cycle.
Core Logic & Market Phases
The indicator classifies market conditions based on a proprietary blend of ADX (Average Directional Index) and price deviation from the Fair Market Value (FMV).
🟦 Contraction (Blue): Identified when ADX is low and price is consolidating within a narrow range relative to the FMV. This represents "market value" where orders are being accumulated.
🟧 Expansion (Orange): Triggered when ADX begins to rise and price pushes away from the FMV. This represents the initial breakout phase where the market is seeking a new value area.
🟩 Trend (Green): Confirmed when ADX remains high and price maintains direction. This is the "momentum" phase of the cycle.
⬜ Neutral (Gray): Default state when neither contraction nor strong momentum is detected.
Key Features
Multi-TF Dashboard: A dynamic, real-time table displaying the Phase, Bias (Bullish/Bearish), and FMV price for eight different timeframes (1m through Monthly).
Visual Bias Tracking: The "Bias" column is color-coded (Green for Bullish, Red for Bearish) based on whether price is trading above or below the Fair Market Value (Mid-point of the range).
On-Chart Inefficiencies (FVG): Automatically plots Green/Red triangles to highlight Fair Value Gaps, identifying areas of price imbalance where liquidity may be resting.
HTF FMV Overlay: Plots the Fair Market Value (Mid-line) of a user-defined Higher Timeframe (e.g., 4H) directly onto your current chart for easy trend reference.
Optimized Performance: Built specifically for Pine Script® v6, the dashboard is designed to update only on the most recent bar to ensure zero chart lag during manual scrolling.
How to Use
Identify the HTF Phase: Look at the background color of your chart to see the 4H or Daily phase.
Check for Alignment: Use the Dashboard to see if the 1m and 5m biases match the HTF bias.
Find Entry: Look for Inefficiencies (FVGs) that align with the Expansion or Trend phases for high-probability entry points.
Core Logic & Market Phases
The indicator classifies market conditions based on a proprietary blend of ADX (Average Directional Index) and price deviation from the Fair Market Value (FMV).
🟦 Contraction (Blue): Identified when ADX is low and price is consolidating within a narrow range relative to the FMV. This represents "market value" where orders are being accumulated.
🟧 Expansion (Orange): Triggered when ADX begins to rise and price pushes away from the FMV. This represents the initial breakout phase where the market is seeking a new value area.
🟩 Trend (Green): Confirmed when ADX remains high and price maintains direction. This is the "momentum" phase of the cycle.
⬜ Neutral (Gray): Default state when neither contraction nor strong momentum is detected.
Key Features
Multi-TF Dashboard: A dynamic, real-time table displaying the Phase, Bias (Bullish/Bearish), and FMV price for eight different timeframes (1m through Monthly).
Visual Bias Tracking: The "Bias" column is color-coded (Green for Bullish, Red for Bearish) based on whether price is trading above or below the Fair Market Value (Mid-point of the range).
On-Chart Inefficiencies (FVG): Automatically plots Green/Red triangles to highlight Fair Value Gaps, identifying areas of price imbalance where liquidity may be resting.
HTF FMV Overlay: Plots the Fair Market Value (Mid-line) of a user-defined Higher Timeframe (e.g., 4H) directly onto your current chart for easy trend reference.
Optimized Performance: Built specifically for Pine Script® v6, the dashboard is designed to update only on the most recent bar to ensure zero chart lag during manual scrolling.
How to Use
Identify the HTF Phase: Look at the background color of your chart to see the 4H or Daily phase.
Check for Alignment: Use the Dashboard to see if the 1m and 5m biases match the HTF bias.
Find Entry: Look for Inefficiencies (FVGs) that align with the Expansion or Trend phases for high-probability entry points.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.