First 15-Min Candle Detector [With Breakout Alerts]

23. Nov. 2024

Indicator: First 15-Minute Candle Detector

Purpose
This indicator helps traders by identifying and marking the high, low, and mid-point of the first 15-minute candle of the market session. It also provides visual aids and alerts for price breakouts above or below these levels, making it ideal for intraday trading strategies.

This script is suitable for traders focusing on early session momentum or reversal strategies.

Key Features

1. Market Start Customization: Configure the market start time (hour and minute) to align with your trading session or exchange timezone.
   
2. Visual Aids:Horizontal lines to mark the High, Low, and Mid-point of the first 15-minute candle.
   Background highlighting to identify the first 15-minute candle.
   Configurable colors and line widths for clear visuals.
   
3. Breakout Alerts:Real-time alerts for breakouts above the high or below the low of the first 15-minute candle.
   Customizable alert messages.
   Alerts configured using alertcondition.
   
4. Dynamic Adjustments:
   • Adapts dynamically to timeframes of 15 minutes or lower.
     
   • Resets and recalculates at the start of each new session.
     

Inputs and Configurations

1. Market Settings:Market Start Hour: Default is 9.
   Market Start Minute: Default is 30.
   
2. Visual Settings:Enable/disable background highlighting.
   Set colors for the background, high line, low line, and mid-line.
   Adjust line width (1 to 5).
   Toggle the visibility of the mid-line.
   
3. Alert Settings:
   • Enable breakout alerts.
     
   • Set custom alert messages for high and low breakouts.
     

How It Works

// First 15-Minute Candle DetectionThe indicator monitors the first 15-minute candle after the market opens based on the configured start time. It records the high, low, and calculates the mid-point of this candle.// Visual MarkingsHorizontal lines are drawn at the high, low, and mid-point of the first 15-minute candle, extending to the right for the rest of the session.// Breakout DetectionThe indicator checks for price breakouts above the high or below the low of the first 15-minute candle and triggers alerts if enabled.// Dynamic ResetThe indicator resets values and deletes previous session lines at the start of each new session.

Conditions and Alerts

1. Breakout Conditions:High Breakout: The closing price exceeds the high of the first 15-minute candle.
   Low Breakout: The closing price falls below the low of the first 15-minute candle.
   
2. Alert Triggers: Configurable alerts notify you of breakouts in real-time.
   

Use Cases

• Intraday Traders: Ideal for early-session momentum or reversal strategies.
  
• Breakout Traders: Helps identify entry points when price breaks key levels.
  
• Visual Clarity: Simplifies tracking important session levels.
  

Limitations

• Works only on 15-minute or lower timeframes.
  
• Requires accurate market start time configuration.
  

27. Nov. 2024

Versionshinweise

Indicator: Money Maker

Purpose
This script is a comprehensive indicator designed to assist traders with key trend and volume-based signals, including pivot levels, retracements, and buy/sell opportunities. It employs technical analysis concepts like VWAP, EMA crossovers, MACD, and custom pivot logic to generate actionable trading insights.

The Money Maker indicator combines volume, trend, and retracement signals to identify potential buy and sell setups during a session.

Key Features

1. VWAP Calculation: Calculates the Volume Weighted Average Price to help assess fair value.
   
2. EMA Crossovers: Tracks fast and slow EMA crossovers to determine trend direction.
   
3. Pivot Highs and Lows: Marks key pivot points on the chart for visual guidance.
   
4. Volume Analysis: Evaluates volume against moving averages to confirm strength or weakness.
   
5. Retracement Levels: Identifies retracement levels during uptrends and downtrends, aiding in decision-making.
   
6. Buy and Sell Signals: Detects potential buy and sell opportunities based on trend, retracement, and volume factors.
   
7. Custom Alerts: Provides configurable alerts for both "watch" and actual buy/sell signals.
   

Inputs and Configurations

1. Trend Periods:Fast Period: Default is 9.
   Slow Period: Default is 20.
   Volume Average Period: Default is 3.
   
2. Pivot Settings:Enable/disable pivot high/low display.
   Length for High and Low Pivots: Defaults to 10.
   
3. Session Hours: Set the trading session time (default is "0930-1600").
   
4. Retracement Colors: Configurable color-coding based on retracement levels:
   
   • Green: For favorable retracements during uptrends.
     
   • Red: For favorable retracements during downtrends.
     

Conditions and Alerts

1. Watch Signals: Indicate potential buy or sell setups:
   Watch Buy: Identifies when uptrend conditions are forming, with retracement and volume confirming.
   Watch Sell: Identifies when downtrend conditions are forming, with retracement and volume confirming.
   
2. Buy/Sell Signals: Triggered after validation of watch conditions:
   Buy Signal: Confirmed uptrend, retracement within acceptable range, and breakout of prior high.
   Sell Signal: Confirmed downtrend, retracement within acceptable range, and breakdown of prior low.
   
3. Alert Triggers: Configurable alerts notify traders of both watch and actual signals in real-time.
   

Use Cases

• Trend Traders: Use EMA crossovers and retracements to follow market momentum.
  
• Volume Analysis: Identify opportunities with volume confirmations.
  
• Pivot Levels: Plan entries and exits around key pivot points.
  
• Custom Alerts: Stay informed of trading setups without constant monitoring.