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Price Action with S/R and MACD
Guide to the "Price Action with S/R and MACD" Indicator
This indicator combines price action analysis, support and resistance (S/R) levels, and the MACD indicator to identify trends and generate buy/sell signals on TradingView. It's designed to help you make informed trading decisions with clear confirmations. Below, we explain how it works and how to use it:
1. What does the indicator do?
Detects market structure: Identifies bullish and bearish trends through TrendShift (trend change) and TrendConfirm (trend confirmation) signals.
Plots support and resistance: Marks key levels where the price tends to bounce or break.
Uses MACD for confirmation: Ensures trade signals align with the MACD's trend.
Generates trade signals: Suggests Buy or Sell entries with Stop Loss (SL) and Take Profit (TP) levels based on support/resistance.
2. Key Components
TrendShift (Trend Change): Signals a potential reversal in market direction (bullish to bearish or vice versa). Displayed as labels on the chart:
Green (Bullish): Shift to an uptrend.
Red (Bearish): Shift to a downtrend.
TrendConfirm (Trend Confirmation): Confirms the market direction by breaking previous highs or lows.
Support and Resistance:
Support (green): A level where the price may bounce upward.
Resistance (red): A level where the price may reverse downward.
These levels update automatically based on detected pivots.
MACD: Assesses trend strength. Bullish signals (MACD > signal and > 0) or bearish signals (MACD < signal and < 0) reinforce entries.
Trade Signals:
Buy: Triggered on a bullish TrendShift, bullish TrendConfirm, bullish MACD, and price near support.
Sell: Triggered on a bearish TrendShift, bearish TrendConfirm, bearish MACD, and price near resistance.
3. How does it look?
Chart:
Green horizontal lines for support and red for resistance.
"TrendShift" labels at key reversal points.
Automatic alerts with entry, Stop Loss, and Take Profit details.
Information Table (top-right corner):
TrendShift: Current status (Bullish/Bearish).
TrendConfirm: Trend confirmation status.
MACD: MACD status (Bullish/Bearish/Neutral).
Support/Resistance: Current price levels for key zones.
Entry: Price of the latest trade signal.
SL/TP: Suggested Stop Loss and Take Profit levels.
4. Customizable Settings
You can tweak the parameters in the indicator's settings:
Lookback Period (10): Number of bars to detect market structure.
Cooldown Bars (5): Minimum bars between signals to avoid noise.
Pivot Period (5): Sensitivity for detecting support/resistance.
MACD Fast/Slow/Signal (12/26/9): Adjusts MACD sensitivity.
5. How to use it in trading?
1. Add the indicator: Search for "Price Action with S/R and MACD" on TradingView and apply it to your chart.
2. Check the table: Review TrendShift, TrendConfirm, and MACD status to understand the current trend.
3. Wait for clear signals:
Buy when you see a "Buy" signal near support with bullish confirmations.
Sell when you see a "Sell" signal near resistance with bearish confirmations.
4. Set up alerts: Use the built-in alerts to get notified of signals with entry, SL, and TP levels.
5. Manage risk: Follow the suggested Stop Loss and Take Profit to protect your capital.
6. Practical Tips
Confirm with other tools: Pair this indicator with volume or candlestick patterns for better accuracy.
Test on different timeframes: Works on 1H, 4H, daily charts, etc., but adjust settings to match your trading style.
Avoid choppy markets: Signals are more reliable in trending conditions.
7. Example of a Signal
Buy: Price drops to support, the indicator shows "TrendShift: Bullish," "TrendConfirm: Bullish," and "MACD: Bullish." You get an alert: "Buy Signal: Enter at 100, SL at 99, TP at 110."
Sell: Price rises to resistance, the indicator shows "TrendShift: Bearish," "TrendConfirm: Bearish," and "MACD: Bearish." You get an alert: "Sell Signal: Enter at 110, SL at 111.1, TP at 100."
This indicator is a powerful tool for traders looking for clear signals based on price action, key levels, and technical confirmation. Try it out, tweak the settings to fit your strategy, and use it to enhance your trading decisions!
If you have questions or need help setting it up, feel free to leave a comment or reach out!
This indicator combines price action analysis, support and resistance (S/R) levels, and the MACD indicator to identify trends and generate buy/sell signals on TradingView. It's designed to help you make informed trading decisions with clear confirmations. Below, we explain how it works and how to use it:
1. What does the indicator do?
Detects market structure: Identifies bullish and bearish trends through TrendShift (trend change) and TrendConfirm (trend confirmation) signals.
Plots support and resistance: Marks key levels where the price tends to bounce or break.
Uses MACD for confirmation: Ensures trade signals align with the MACD's trend.
Generates trade signals: Suggests Buy or Sell entries with Stop Loss (SL) and Take Profit (TP) levels based on support/resistance.
2. Key Components
TrendShift (Trend Change): Signals a potential reversal in market direction (bullish to bearish or vice versa). Displayed as labels on the chart:
Green (Bullish): Shift to an uptrend.
Red (Bearish): Shift to a downtrend.
TrendConfirm (Trend Confirmation): Confirms the market direction by breaking previous highs or lows.
Support and Resistance:
Support (green): A level where the price may bounce upward.
Resistance (red): A level where the price may reverse downward.
These levels update automatically based on detected pivots.
MACD: Assesses trend strength. Bullish signals (MACD > signal and > 0) or bearish signals (MACD < signal and < 0) reinforce entries.
Trade Signals:
Buy: Triggered on a bullish TrendShift, bullish TrendConfirm, bullish MACD, and price near support.
Sell: Triggered on a bearish TrendShift, bearish TrendConfirm, bearish MACD, and price near resistance.
3. How does it look?
Chart:
Green horizontal lines for support and red for resistance.
"TrendShift" labels at key reversal points.
Automatic alerts with entry, Stop Loss, and Take Profit details.
Information Table (top-right corner):
TrendShift: Current status (Bullish/Bearish).
TrendConfirm: Trend confirmation status.
MACD: MACD status (Bullish/Bearish/Neutral).
Support/Resistance: Current price levels for key zones.
Entry: Price of the latest trade signal.
SL/TP: Suggested Stop Loss and Take Profit levels.
4. Customizable Settings
You can tweak the parameters in the indicator's settings:
Lookback Period (10): Number of bars to detect market structure.
Cooldown Bars (5): Minimum bars between signals to avoid noise.
Pivot Period (5): Sensitivity for detecting support/resistance.
MACD Fast/Slow/Signal (12/26/9): Adjusts MACD sensitivity.
5. How to use it in trading?
1. Add the indicator: Search for "Price Action with S/R and MACD" on TradingView and apply it to your chart.
2. Check the table: Review TrendShift, TrendConfirm, and MACD status to understand the current trend.
3. Wait for clear signals:
Buy when you see a "Buy" signal near support with bullish confirmations.
Sell when you see a "Sell" signal near resistance with bearish confirmations.
4. Set up alerts: Use the built-in alerts to get notified of signals with entry, SL, and TP levels.
5. Manage risk: Follow the suggested Stop Loss and Take Profit to protect your capital.
6. Practical Tips
Confirm with other tools: Pair this indicator with volume or candlestick patterns for better accuracy.
Test on different timeframes: Works on 1H, 4H, daily charts, etc., but adjust settings to match your trading style.
Avoid choppy markets: Signals are more reliable in trending conditions.
7. Example of a Signal
Buy: Price drops to support, the indicator shows "TrendShift: Bullish," "TrendConfirm: Bullish," and "MACD: Bullish." You get an alert: "Buy Signal: Enter at 100, SL at 99, TP at 110."
Sell: Price rises to resistance, the indicator shows "TrendShift: Bearish," "TrendConfirm: Bearish," and "MACD: Bearish." You get an alert: "Sell Signal: Enter at 110, SL at 111.1, TP at 100."
This indicator is a powerful tool for traders looking for clear signals based on price action, key levels, and technical confirmation. Try it out, tweak the settings to fit your strategy, and use it to enhance your trading decisions!
If you have questions or need help setting it up, feel free to leave a comment or reach out!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Join my trading community on Discord! 📈 Use all our indicators for FREE
discord.gg/xPEDcNEupw
discord.gg/xPEDcNEupw
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.