OPEN-SOURCE SCRIPT

EBP + Fib

This indicator automatically detects bullish and bearish EBP candles, highlights them visually, and generates an inverted Fibonacci framework used to plan continuation trades with precision.

🔍 What This Indicator Does
This tool fully automates the EBP workflow:

1. Detects Bullish & Bearish EBP Candles

Bullish EBP: price sweeps prior lows and closes strongly above the previous open/close.
Bearish EBP: price sweeps prior highs and closes strongly below the previous open/close.
EBP candles often serve as high-probability directional anchors, defining short-term and medium-term bias.

2. Plots an Inverted Fibonacci Framework
Once an EBP candle forms, the script builds a custom inverted fib projection using the candle’s high/low as anchor points.
The levels used:

1.0 – EBP extreme
0.75 / 0.65 / 0.50 / 0.25 / 0.0 – retracement levels
-0.25 / -0.50 – continuation targets

3. Clean Labeling & Custom Styling
You can customize:

Level colors
Line weights & styles
Label positions (left, middle, right)
Label text size
Vertical spacing (to separate labels from lines)

Labels show the actual fib value for fast reference during execution.

4. Directional Bias Made Simple
The indicator colors EBP candles and displays fib levels that express the market’s expected path:

Bullish: price is expected to retrace into 0.50–0.65, hold above the 1.0 extreme, and extend toward negative extensions.
Bearish: identical logic mirrored downward.

This makes bias extremely easy to read on any timeframe (1m → 4H → HTF).

5. Built-in Alerts
The indicator includes alert conditions for:

Bullish EBP detected
Bearish EBP detected

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📈 How Traders Use This Tool

This indicator is designed for traders who want a clean, systematic framework for trading EBP-based continuation setups.

Common execution models:
🔹 Bullish EBP

A 1H or 4H bullish EBP forms → bullish bias.
Wait for price to retrace into the 0.65 or 0.50 level.
Look for lower-timeframe confirmation (BOS, sweep + reclaim).
Target 0, -0.25, or -0.50.

🔹 Bearish EBP
Mirror the process above.
This workflow is widely used in algorithmic price action, continuation models, and liquidity-based trading.
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✨ Ideal For

Liquidity-based traders
Smart money / ICT-fluent traders
Continuation model traders
Systematic backtesters
Intraday ES/NQ/MNQ/MES traders
Crypto scalpers using HTF bias

오픈 소스 스크립트

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오픈 소스 스크립트

Tequirisi

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