OPEN-SOURCE SCRIPT
Elite Ultimate SMC PRO - Probability Engine
Description:
Overview:
This indicator is a comprehensive Smart Money Concepts (SMC) engine designed to filter noise and identify high-probability trade setups. By combining market structure analysis with momentum and trend filters, the engine generates a dynamic "Probability Score" (0-100).
How it works:
The script evaluates four core market conditions before triggering an entry signal:
1-Market Structure: Identifies swing highs and lows using custom lookback periods.
2-Momentum (Stochastic): Monitors overbought/oversold conditions to avoid entering late.
3-Money Flow (MFI): Confirms if the market volume supports the price move.
4-Trend Filter: Uses SMAs to ensure the trade is aligned with the broader trend.
Features:
1-Probability Score: Only shows signals that meet your customized threshold.
2-Automated Risk Management: Automatically calculates and plots SL (Stop Loss) and TP (Take Profit) levels based on ATR (Average True Range).
3-FVG Detection: Visualizes Fair Value Gaps on the chart to identify areas of price inefficiency.
Settings:
1-Score Threshold: Adjust the sensitivity of the signals (Default 70).
2-Swing Lookback: Change to suit your preferred timeframe (Intraday vs. Swing).
3-ATR Multipliers: Customize your Risk/Reward ratio for TP1 and TP2.
Usage Tips:
1-Works best on 1H/4H timeframes.
2-Use the "Score" on the label to gauge the strength of the setup.
3-Always combine with your own market analysis.
Disclaimer: This indicator is for educational purposes only and does not constitute financial advice. Always perform your own due diligence.
BY ANDREHAN
Overview:
This indicator is a comprehensive Smart Money Concepts (SMC) engine designed to filter noise and identify high-probability trade setups. By combining market structure analysis with momentum and trend filters, the engine generates a dynamic "Probability Score" (0-100).
How it works:
The script evaluates four core market conditions before triggering an entry signal:
1-Market Structure: Identifies swing highs and lows using custom lookback periods.
2-Momentum (Stochastic): Monitors overbought/oversold conditions to avoid entering late.
3-Money Flow (MFI): Confirms if the market volume supports the price move.
4-Trend Filter: Uses SMAs to ensure the trade is aligned with the broader trend.
Features:
1-Probability Score: Only shows signals that meet your customized threshold.
2-Automated Risk Management: Automatically calculates and plots SL (Stop Loss) and TP (Take Profit) levels based on ATR (Average True Range).
3-FVG Detection: Visualizes Fair Value Gaps on the chart to identify areas of price inefficiency.
Settings:
1-Score Threshold: Adjust the sensitivity of the signals (Default 70).
2-Swing Lookback: Change to suit your preferred timeframe (Intraday vs. Swing).
3-ATR Multipliers: Customize your Risk/Reward ratio for TP1 and TP2.
Usage Tips:
1-Works best on 1H/4H timeframes.
2-Use the "Score" on the label to gauge the strength of the setup.
3-Always combine with your own market analysis.
Disclaimer: This indicator is for educational purposes only and does not constitute financial advice. Always perform your own due diligence.
BY ANDREHAN
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.