Miscellaneous Features
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Our miscellaneous features can add additional chart drawings and overlays that provide the user with confirmations, trend-following plots, pullback zones, automated technical analysis methods, previous highs and lows and it can also impact the colour scheme of the overall indicator too.
Trend drawings is our first input box in the miscellaneous feature group and the input field provides users with 4 different trend following modes such as the 200 EMA trend, Trend Cloud, Confirmation Background Highlight, Strict Trend-Following Background Highlight. These features are designed to remove some of the noise and allow the traders to follow the correct trends within the market.
The 200 EMA was added to the algorithm so that users do not need to fill out their maximum indicator threshold on TradingView and it gives the user a clear insight to the long-term trend allowing users to hold trades for much longer.
The Trend Cloud is a price following plot feature that adapts to the trends of the market. We have included this to help traders identify short-term and mid-term trends a lot quicker compared to the 200 EMA and the cloud itself can act as a dynamic support and resistance for price.
The confirmation highlight feature works by aiming to identify areas where the market is trending and if it is a bullish trend then we will get a positive highlight and if it is a bearish trend then we will get a negative highlight. Also if the market is moving slowly or ranging it tries to ignore that area so traders can see whether or not it is worthy to trade it.
The following highlight aims to highlight every area of the chart with the correct trend identified by the calculation module. This can help remove the noise of some faulty signals on the charts and allow the traders to see the current market bias.
This dropdown section of the miscellaneous features houses all of the automated technical analysis tools that can be used to help save the traders time or used as a confluence with the traders ideas before performing a trade action. There are currently 5 tools in this section, which is: Predictive Support and Resistance, Predictive Channels, Predictive Zig-Zag, Predictive Order Blocks, Predictive Pivot Points.
The predictive channel can be used as a dynamic support and resistance where users can make informed decisions on whether or not price is at a key selling point or a key buying point and this will help traders either stay in trades longer and trade at a safer area that holds less risks.
The predictive support and resistance can be used as a confirmation to entering or holding trades as this feature helps traders identify pivot-based zones where price may usually pullback and retest. Combine this feature with the signals and the correct analysis and it can be a game changer to following or scalping the trends.
The previous order blocks can be useful to many trading situations as it helps the traders identify areas where buyers and sellers are coming in hard and these blocks can be used as order zones or a dynamic support and resistance addon to your analysis. It can also come in handy to traders, who are not aware of how to identify order blocks or haven't yet studied them. These order blocks can also become breaker blocks too, where they act in the opposite of the trend it created.
The predictive zig zag can help traders identify different chart patterns such as a double top, double bottom, head and shoulders, inverted head and shoulders, ranging situations and ideal tops and bottoms. Please note that the zig zag will have some delay to the newest line due to the fact that it is a retro perspective feature that awaits new pivot zones that can take many new candles to form before a line is printed. Ideally, this feature should be used to pinpoint key zones from the past or identify where a correction is needed from a big move.
Predictive pivot points is amazing for identifying possible areas for incoming resistance and support, they can also be used to identify the best location for a premium zone (best selling zone) and a discount zone (best buying zone) allowing traders to make the best decisions possible for their trades. They can be used for safe entry whilst following a trend based on using the zones to act as a retesting point and if price continues to wick off the zones then a trader may enter a trade whilst setting their stop loss to the next midpoint or zone ahead. The pivot points can be used as a take profit and stop loss tool too.
This is the third dropdown box on the miscellaneous features tab that houses 3 plots that can be used to trade on market pullbacks, which will allow traders to identify areas where there is a higher chance of a safe re-entry. These drawings can also be used as a dynamic support and resistance too.
The ema pullback feature can be useful for traders as not only does it act as a dynamic support and resistance but it is automatically coloured to adapt to the trend too. As you can see in the image price has broken below the range and came back to retest the EMA then wicked off and came back down, which is a perfect way to use this feature for re-entries. However, I would combine this with support and resistance or technical analysis before deciding to enter as the more confirmations the better.
The heat bands can be a useful dynamic support and resistance feature because it adapts with price after every candle update and when price wants to reverse in the opposite direction they will usually go past the bands once then range and do it again before reversing. Furthermore, they can also pullback into the opposite zone depending on the trend before carrying on again, which can setup the trader for a nice re-entry or entry into the trend.
The automatic Fibonacci retracement tool can be extremely useful for all trading styles as it can help teach beginners how to properly draw fibs, it can demonstrate what highs and lows are ideal to retrace the trend with, and it can be used to enter the market with a safe entry. The automated version will detect the current trend of the market and draw the appropriate fibs for the situation and they can be customised too if the trader wants a better colour scheme or a inverse retracement. This feature is best combined with technical analysis and higher timeframe trading.
This is the fourth dropdown box in the miscellaneous features that houses the automated previous high, low, close and open for the higher timeframes, which can be used as a lower timeframe support and resistance zone or a premium and discount zone. There are currently 4 timeframes to choose from: Weekly, Daily, 4 Hourly and Hourly.
This will plot the previous week's highs and lows, the midpoint between both those zones and an added ATR add-on towards those zones that can act as a support or resistance point. Best with the 1 hour and 4 hour timeframe.
This will plot the previous day's highs and lows, the midpoint between both those zones and an added ATR add-on towards those zones that can act as a support or resistance point. Best with the 1 hour timeframe.
This will plot the previous 4 hour's highs and lows, the midpoint between both those zones and an added ATR add-on towards those zones that can act as a support or resistance point. Best with the 15 minute timeframe.
This will plot the previous hour's highs and lows, the midpoint between both those zones and an added ATR add-on towards those zones that can act as a support or resistance point. Best with the 5 minute timeframe.
This option will allow the user to pick there desired colour scheme option, which will impact the full indicator and all of its plots that uses the colour code in the script.
This is a retroperspective feature that shows the user the market's momentum based on candlestick patterns. This can be useful for traders, who have entered a trade but have no idea where the market could go next, as it acts as a confirmation.
The momentum period input field acts as the delay for the arrows, default is one bar delay.
