Trading Map Strategy

*Available with Premium subscription.
Description:
To obtain an “edge” traders must formulate a high probability strategy, but that requires clearer vision into the market price action. This trading map provides a picture of trading ranges subdivided into numerous technical levels utilizing, support & resistance zones, VWAP bands, Bollinger Bands, previous day & premarket highs and lows, and fair value gaps (FVGs). Signals are generated while measuring stochastic, RSI, EMA positions, and crossings.

A possible path of technical levels where price action may bounce, break, and reject (BBR) from are depicted clearly. The strategy will apply visual signals of BBR’s and optimal conditions for entries. Bollinger Band and VWAP band crossings are signaled for possible optimal exit levels. No indicator nor strategy can provide guarantees of success due to the volatile dynamic nature of the stock markets, however the Trading Map Strategy will be an invaluable tool in tilting probabilities towards more winning trades.

Unique Features:

• The numberous important technical price levels are marked with lines and price labels.
• A concise trading module shows buy/sell signals, daily high/low, and candle formations referencing the prior day.
• HOD or LOD background color indicates price in the upper/lower third of the current day’s range, suggesting a potential directional trend or sideways movement.
• Current candle formation referencing the previous day is shown (“Inside”, “Outside”, “Up”, or “Down”). The HOD/LOD text colors green/red corresponds respectively with up/down from previous day close.
• Custom levels are user selectable and utilized by the strategy for all signals including BBR alerts.
• Fair value gaps, displacement, break of structure, liquidity, market shifts and volume imbalances are amongst the plotted chart levels or indications.

Indicator Options:
Go to indicator settings under the “Input” tab section to customize:

• Custom levels
• VWAP options
• Chart EMA options
• Moving average lengths and sources for signal calculations
• Moving average types (SMA, EMA, SMMA (RMA), WMA, and VWMA)
• Bollinger Band options
• Stochastic options
• RSI options
• Support & resistance options
• Alerts, displacements, volume imbalances, order blocks, liquidity, FVG, market structure, NWOG, and NDOG options
• Under the “Style” tab, show/hide options for Bollinger and VWAP bands. Line type options can be changed here.

Usage Tips:

• When first installing onto a new chart, the chart will be compressed and will require expansion by spreading the chart scale that is usually on the right of chart.
• Backtesting: To backtest this script, “Order size” under the “Properties” tab must be change from “0”
• Apply this strategy to multiple timeframes to see the pattern progressions properly to aid in trading choices. Proper risk management and adequate experience are required to achieve long term trading success. This strategy is a tool designed to complement a trader’s intuition that only developes over much screen time and trading experience.
• “Up”/”Dn” plots are generated with primary chart (13/49 EMAs default) crossings.
• “B”/”S” plots are generated when EMA, VWAP, RSI, Stochastic data aligns with bounces, breakouts, and rejects align at PMH, PDH, yHOD, yLOD, support, resistance, and custom levels.
• “BBR” plots are generated when bounces, breaks, or rejects occur at the important primary levels mentioned above.
• *Stop loss order placement is highly encouraged for each trade entry.
• Yellow crosses plots are generated when price crosses Bollinger (base, upper, lower) and VWAP (vwap, upper/lower 1, upper/lower 2) bands.
• “Up”/”Dn” plots are chart EMA crossings are increased probability signals that initial partial lots can be considered for entries.
• Additional confirmation comes with “B” or “S” and “BBR” plots for higher probability signals to add up to a full lot can be considered for a trade.
• Optimal exits can be considered to target potential yellow cross plots at either Bollinger Upper/Lower or VWAP HB2/LB2 bands respectively.
• A recommended exit strategy is to take partial profits on each push wave towards the target and fully out when reaching the target cross.

*This script is free to use with premium member access.

Disclaimer:
Achieving trading success hinges on adherence to your strategy, with indicators complementing rather than dictating trades. This script serves solely for informational and educational purposes and does not offer professional or financial advice. You assume full responsibility for evaluating the script output and its associated risks.

By utilizing the script, you agree to absolve StockWaver (TradingView user) of any liability for damages arising from decisions based on it. StockWaver is not affiliated with TradingView, Inc. Remember, experience and sound risk management are invaluable, and there’s no substitute for them, be it indicators or strategies. Thank you!