Aktualisiert
HTF Rejection Blocks (RB) v2 [louis]
Overview
HTF Rejection Blocks is a price action tool designed to automatically identify and visualize areas of significant market rejection. By analyzing candle wicks relative to their bodies and historical volatility, this indicator highlights zones where institutional buying or selling pressure has occurred.
Unlike standard support and resistance indicators, this script focuses specifically on wick rejection, which often signals where price failed to sustain a move due to a wall of opposing orders.
How It Works
Key Features
1. Multi-Timeframe (MTF) Dashboard
2. Smart Filtering (Advanced Options)
3. OTE Fib Levels
4. Zone Management
Settings Guide
Zone Settings
Timeframe Configuration
OTE Fib Levels
Advanced Options
HTF Rejection Blocks is a price action tool designed to automatically identify and visualize areas of significant market rejection. By analyzing candle wicks relative to their bodies and historical volatility, this indicator highlights zones where institutional buying or selling pressure has occurred.
Unlike standard support and resistance indicators, this script focuses specifically on wick rejection, which often signals where price failed to sustain a move due to a wall of opposing orders.
How It Works
- The script utilizes a percentile based ranking system. It analyzes the upper and lower wicks of the most recent candles and compares them to the lookback period.
- Bearish Zones: Created when an Upper Wick is significantly larger than the average, indicating sellers pushed price down aggressively.
- Bullish Zones: Created when a Lower Wick is significantly larger than the average, indicating buyers stepped in to reverse the price.
- Once a zone is identified, it draws a box extending to the right until price closes beyond the zone, mitigating/invalidating it.
Key Features
1. Multi-Timeframe (MTF) Dashboard
- Monitor higher timeframe structures without leaving your current chart. The script allows you to configure up to 4 distinct timeframes simultaneously.
- Example: You can view 15m, 1H, and 4H wick zones while trading on a 1m chart.
- Each timeframe has independent Bull/Bear color settings and toggle controls.
2. Smart Filtering (Advanced Options)
- Reduce noise and focus on high-probability setups using the built-in filters
3. OTE Fib Levels
- Automatically plots Optimal Trade Entry (OTE) Fibonacci levels inside every active zone.
- Includes customizable levels: 0.50, 0.62, 0.705, and 0.79.
- Useful for precision entries upon a retest of the wick.
4. Zone Management
- Live Invalidation: Zones are automatically removed when price closes outside the wick range.
- Mitigated Zones: Option to leave a faint "ghosts" of broken zones to see historical reaction points.
- Wick Highlighting: Optional outline around the specific candle that created the zone for visual clarity. Helpful for HTF zones.
Settings Guide
Zone Settings
- Highlight Wick: Toggles the border outline of the candle that generated the zone.
- Mitigated Zones: If checked, broken zones remain on the chart as faint gray boxes (Ghosting).
Timeframe Configuration
- Enable/Disable: Use the checkbox to turn specific timeframes on or off.
- Timeframe Selector: Choose the specific TF (e.g., 15m, 4H, D).
- Colors: Customize the Bull (Support) and Bear (Resistance) colors for each timeframe to distinguish them easily.
OTE Fib Levels
- Enable retracement levels to appear inside the zones.
Advanced Options
- Experimental Filtering: Enables the RSI and minimum spacing logic to filter out weaker signals.
- Calculated Bars Count: specific how far back the script processes data (lower numbers improve performance).
Versionshinweise
updated chart image to show example usageVersionshinweise
Upgraded default historical bar lookback valueVersionshinweise
- Bugfix for overlapping rejection blocks not getting invalidated
- Optimized performance
Versionshinweise
Changed some default values again
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.
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.