Overview

Trendmaster - Auto Charting Tools is the most advanced charting tool that perfectly plots key information on every timeframe, in every market, and on any trading pair

Auto Charting Tools is part of the Trendmaster™ Trading System which comprises of; Core Signals, Auto Charting Tools, and the Harmony Oscillator. Auto Charting Tools is primarily used to save time and to correctly chart for Tradingview.

- The "Key" to using this in combination with the other indicators is "Confluence" - This means using multiple aspects of the indicators together as trade confirmation.

✔️ Automatic Fibonacci Retracements "Fibs"

- PURPOSE - To denote Key Level opens as High timeframes that coincide with Price Action

- Can toggle on - Daily, Weekly, Monthly, Quarterly, and Yearly Opens

- Combine these Opens with Support and Resistance and Orderblocks

- PURPOSE - range plotting as a way of choosing Key Levels and Range trading

- Allows you to automatically plot Ranges on the chart

✔️ High Timeframe Opens

- PURPOSE - To denote Key Level opens as High timeframes that coincide with Price Action

- Can toggle on - Daily, Weekly, Monthly, Quarterly, and Yearly Opens

- Combine these Opens with Support and Resistance and Orderblocks

✔️ Orderblocks (Support & Resistance)

- PURPOSE - show the high timeframe (D, W, M) Levels that are key S/R levels

- These levels will denote where price will react when it achieves or fails these levels

- Primarily a high timeframe tool

✔️ Swing Points

- Shows Key Bullish or Bearish engulfing candles that coincide with Price Action Orderblocks

- When Price retraces to these levels the reaction at these "Swings" will denote if price achieves or fails these levels

- Very effective on every timeframe

✔️ Local Highs/Lows

- PURPOSE: the Swing highs that are Local to the current Price Action, shows liquidity, and when it is taken or not

- As these local highs and lows are plotted they will be denoted with a Water Drop or a Target

- The Water Drop means liquidity is still there, this is because liquidity exists at the tops/bottoms of wicks

- The Target shows when that liquidity has been taken from that level

- Liquidity levels are important to understand concerning Price Action

✔️ Volume Profile

- PURPOSE - total volume traded at a specific price level during the specified time

- This is crucial because volume "gaps" or low volume areas are places where price moves more quickly through

- Conversely, the heavy volume areas usually slow down Price Action

- The 1hr point of control (Highest Volume Area) is very often retested in the same way Daily Opens are often retested

Auto Fibs

Overview

The Auto Fibonacci Retracements is an invaluable tool as it allows for the on-chart plotting of the traditional Fibonacci Retracements done by the indicator.

Fibonacci retracement levels are horizontal lines that indicate where support and resistance are likely to occur. They stem from Fibonacci’s sequence, a mathematical formula that originated in the 13th century.

Each level is associated with a percentage. The percentage is how much of a prior move the price has retraced. The Fibonacci retracement levels are 23.6%, 38.2%, 61.8%, and 78.6%. While not officially a Fibonacci ratio, 50% is also used. 

Fibonacci Retracements levels are important to be used in “Confluence” with other Support and Resistance levels, Orderblocks, and Key Levels. The .618 and .5 retracement levels are the most prevalent when observing retracements. 

Fibonacci Retracements levels are important to be used in “Confluence” with other Support and Resistance levels, Orderblocks, and Key Levels. The .618 and .5 retracement levels are the most prevalent when observing retracements. 

Auto Fib Retracement - Uber Fibs (Price Projection)

The Indicator can also be used with something we like to call “Uber Fibs”. Uber Fibs are a way of using .618 values to project potential price levels. 

These “Uber Fibs” do not fall within 1 and 0 like traditional Fibonacci Retracement Levels, instead, they are multiples with the .618 trailing such as 1.618, 2.618, 3.618, etc. 

These Fib Projections can locate key price levels and can give further confluence to important levels.  if there is previous chart data such as a higher high or a lower low from where the Uber Fibs are plotted. Again, these levels should be used in confluence with other tools. 

We recommend using the built into tradingview Fibonacci retracement tool when the auto charting tools plot a confluent auto fib. Then use the built-in tool to plot it over the auto Fibonacci retracements and then turn it off on the auto charting tools. This then allows you to use the “Uber Fibs” as a price prediction tool.

Probability says that if price gains or loses an Uber Fib level then it must go up to test the next level or down to the next level below. This is the same as for a price that rejects a level either to the upside or downside then must reverse to retest the previous level. 

Probability says that if price gains or loses an Uber Fib level then it must go up to test the next level or down to the next level below. This is the same as for a price that rejects a level either to the upside or downside then must reverse to retest the previous level. 

Auto Fib Retracement Settings

The Auto Fibonacci Retracement Tool is preset to “Show Prices” along with the retracement percentage and they are default positioned to the right. This can be adjusted to either the “Left” or “Right” side of where the Fibs are plotted.

The Levels themselves can be toggled On/Off or if they are shown as Values or Percentages

The Deviation and Depth are the values of where the Auto Fibs are plottedThe deviation is the multiplier that affects how much the price should deviate from the previous pivot for the bar to become a new pivotThe default value for the Deviation is 4. The higher the Deviation the more price needs to deviate to create a new pivot and, this means your retracement will require a higher change in Price (Up/Down). A lower deviation means the price needs to change much less to create a new pivot

Depth is the minimum number of bars that need to be taken into account when calculating the indicator (Left/Right).The preset for Depth is 10, and the larger the value the more bars will be needed to calculate the retracement resulting in a wider retracement. Conversely, a smaller Depth value will result in a much more local retracement.

The Toggle Reverse allows you to reverse the direction of the Fibonacci RetracementThis is an important tool as you want to accurately know the direction of retracement and making sure it’s being plotted correctly depends on the direction of retracement.

The Toggle One Color allows you to change all the Fib Level colors to 1 color

There are 22 seperate Levels that can be entered with any values you wish to use The Presets for the Fib Retracement are - 0, .236, .382, .5, .618, .786, and 1The Uber Fib presents are 1.618 through 7.618 as well as -.618 through -7.618

Auto Ranges

Overview

The Auto Range Fib is very similar to the Auto Fib Retracement tool but instead uses only 5 values to automatically plot a range within a certain area on the chart. The Values of 0, .25, .5, .75, and 1 constitute the entirety of the range

What is a range trading strategy?Range trading is an active investing strategy that identifies a range at which the investor buys and sells over a short period. A trading range occurs when a security trades between consistent high and low prices for a period of time. The top of a security’s trading range often provides price resistance, while the bottom of the trading range typically offers price support.

The best way to use the Auto Range Fib is to look at the tops and bottoms to see if it coincides with the price action. From there look at how price reacts at the key levels plotted by the Auto Range Fib and take long and short positions based on not only confluence of other levels, but at the top and bottom of a range.

How To Range Trade

Here you can see that you can simultaneously take long and short positions effectively “Hedging” yourself and protecting your capital regardless of which way you trade.

In this example, you would short at the top of the Range and take some profit at each level of the range as the price goes down. These levels with 1 being the top of the Range are .75, .5. .25, and 0 and coincide with a PT or Profit Target.

The goal of Range trading is to never close your positions until the price has broken out of the range.

Then as Price now is moving Up you take a Long position from the 0 or bottom of the range at .25, .5, .75. And 1 and coincide with PT 1 through 4 in the Long position.

The Auto Range Fib should be used in confluence with other key levels, orderblocks, etc. in order to establish the validity of the range, and then to prevent the Tool from replotting your range you should use the Tradingview Fibonacci retracement function to plot your range over the Auto Range Fib Tool.

Settings

The Deviation and Depth are the values of where the Auto Range Fibs are plottedThe deviation is the multiplier that affects how much the price should deviate from the previous pivot for the bar to become a new pivotThe present for the Deviation is 4. The higher the Deviation the more price needs to deviate to create a new pivot and, this means your range will require a higher change in Price (Up/Down). A lower deviation means the price needs to change much less to create a new pivot

Depth is the minimum number of bars that need to be taken into account when calculating the indicator (Left/Right).The preset for Depth is 10, and the larger the value the more bars will be needed to calculate the retracement resulting in a wider range. Conversely, a smaller Depth value will result in a much more local range.

The Toggles Extend Left and Extend Right let you extend the lines of the tool to the left or the right of the chart 

The Toggle Reverse allows you to reverse the direction of the Fibonacci Retracement

The Auto Range Fib should be used in confluence with other key levels, orderblocks, etc. in order to establish the validity of the range, and then to prevent the Tool from replotting your range you should use the Tradingview Fibonacci retracement function to plot your range over the Auto Range Fib Tool. This is an important tool as you want to accurately know the direction of retracement and making sure it’s being plotted correctly depends on the direction of retracement.

Colours

The Toggle One Color allows you to change all the Fib Level colours to 1 colour.

There are 5 separate Levels that can be entered with any values you wish to use.

Local Highs & Lows

Overview

Local Highs and Lows show the previous Swing Highs for both Bullish and Bearish Swings. With this tool we are specifically interested in the Wicks of the local candles as the tops and bottoms of wicks are liquidity levels. The emoji of the water drop and a solid line shows that liquidity at these levels is still there. If price has broken these wicks then that liquidity has been “taken” and the level will show a dotted line as well as a target to show that the liquidity has been taken. 

The theory behind this is that the vast majority of traders put their stoplosses at the highs of wicks, this is because when price makes a new local high or new local Low then the overall direction of Price Action can change. However, we also know that these levels are targeted by Whales or Market Makers who “Grab” liquidity and then can use this liquidity to fill their orders and move price in the opposite direction. This is why we have the active liquidity and taken liquidity levels. This way if price makes a new high/low but closes the candle (any timeframe) back below/above the respective liquidity level, then the probability is that it was a liquidity grab and that price should now bounce back in the direction it came from. 

It is also important to note that grabbing Short Liquidity (price creating a new high then closing below the previous high thus stopping out Short positions) is more common in reversals for cryptocurrency than grabbing Long Liquidity (long positions to the downside) this is  because Long Liquidations are more prevalent than Short Liquidations because more people Long on average than they take short positions. This can often result in a Liquidation Slide, which coincides with heavy Long Liquidations that quickly and with high volatility move price to the downside. 

Settings

The Swiing Detector in Bars is a filtering value where the higher the value, the more swings are filtered out and therefore not charted. 

The Previous Local High(s) and Low(s) are the number of previous Highs/Lows that are charted. We recommend using more on the lower timeframes to create more confluence and less on the higher timeframes as they will already coincide with the other tools such as Orderblocks and Swing Points

Visibility After Purged means how long the Swings will be shown after the Liquidity has been taken, the higher the value the longer they stay visible and the lower the value the fewer bars have to pass in order to erase the taken liquidity to be plotted. 

Highs/Lows and After Purged Colours can be adjusted as well as the opacity of the levels, line Style After Purged allows you to change the line type of Liquidity that has been taken

Swing Points

Overview

Swing Points are important “Swings” where price moves up (Green Dotted Swing) and down (Red Dotted Swing). These points create market inefficiencies as they result in bullish and bearish engulfing candles. 

Market inefficiencies are created by engulfing candles as it can leave many orders unfilled thus meaning that these unfilled and resting orders will create zones that if price moves back towards it, the likelihood of it become a Support/Resistance level and significant to the Price Action. 

As these levels are created they function Supply Zones (If Bearish - Red) and Demand Zones (if Bullish - Green). As these levels are created price often reacts by retesting, gaining, and losing these levels, as well as creating more market inefficiencies and stacking these levels making them even more significant. 

To use these levels, as all tools look for confluence with other levels such as Hight Time Frame Key Levels, Local Highs and Lows, etc. These levels are most effective on the 4hr timeframe or higher and show good points of confluence. When price moves into one of these zones look for closes as price bounces off of them, a high timeframe close such as a 4hr or higher outside of these levels show a potential for reversal 

Swing Points are important “Swings” where price moves up (Green Dotted Swing) and down (Red Dotted Swing). These points create market inefficiencies as they result in bullish and bearish engulfing candles. 

Settings

The Required Length corresponds to the minimum number of consecutive up/down candles needed to create a Swing Point, The higher the minimum number the more one directional candles needed to create a swing point, and the lower the length the less number of candles needed to creat a Swing Point. 

Required Move % is the minimum price needs to move to create a Swing Point, this acts as a filter where the higher the default value is .3%. Increasing this number will filter out more Swing Points based on move of Price and Decreasing this value will allow more Swing Points to be created on the Chart. We recommend adjusting this by .1% increments

The Bullish and Bearish Swing Points can be changed from Green and Red to any color you want.

High Timeframe Opens

Overview

High time frame opens refer to key levels relative to the opening of bars at high timeframes. The time frames of different Monthly opens, the Yearly Open, Weekly open, and Daily open are often retested and become key levels where price will retrace and react to consistently. 

This tool is a “Must Have” on every trading pair that you’re observing because this higher time frame opens often have a confluence with other Key Levels. This tool works on every single trading pair and timeframe on Tradingview. 

The strategy and psychology behind this tool are that traders cover, alter and open new positions at these specific opens. Order swapping occurs and unfilled orders are often left behind. An unfilled order is an order left unfilled around a price region from traders who were unable to realize their desired fill price. However, this by no means guarantees a level will hold; it’s impossible to decipher whether an area garnered sufficient interest in the past to justify a rebound. You could argue this would be a similar psychological form observed at notable support and resistance levels. The best way to use these levels is as convergence points, so when they coincide with key support and resistance levels, order blocks, and liquidation levels. 

Orderblocks

Overview

The high time frame allows you to choose between Daily, Weekly, and Monthly Orderblocks.

Lookback allows you to pick the time and date from which the Orderblocks start date information is generated. This is VERY important to understand as based on the Price Action of the pair you are observing, you should change the lookback so that the Orderblocks coincide with the Daily or higher level that is significant to the Price Action. For example, the default is January 1, 2021, at 0100 UTC because for BTC that is the most effective time to start it as it coincides with the previous Bull Run. If you are observing Forex pairs, stocks, indices then you should change the lookback time to correlate to the current price action you are observing.

Levels Grade refers to the Confluence of the Levels, you can select which levels you want to observer (1-3) and change the color. The Lower the level of Confluence the lower the number in this scale, the more confluent the level, the higher the level is. 

The Range Top and Bottom can also be changed from Red or Green.

The Average Volume Multiplier and Average volatility Multiplier coincide with the rates to which the levels are calculated, we do not recommend adjusting these settings however to change them we advise adjusting the base values of 1 by 0.1 increments.

The Sensibility in % of ATR adjusted the sensitivity of of the ATR or Average True Range calculation that goes into to plotting these levels, we recommend only adjusting this by 1% increments. 

Swing Detector in Bars calculates the number of bars that correspond to the previous swing level. We talk about Swings as impulses of price up and down and this adjusts the number of lower price movement that is required to create a “Swing”. The default number on this is 4, the higher the number the more bars need to distinguish a swing level, and conversely if you lower the number. 

Filter by Trend means that the Swings are taken into account in the calculation of the Orderblocks, this is based on the current period of 50 as default. We do not recommend changing this setting

Volume Profile

Overview

Volume Profile is a horizontal histogram plotted on a chart, showing the volume of shares traded at a specific price level. Often times, these Profiles are found on the Y-axis and are used by technical traders to predict areas of support and resistance

Volume Profile is used to illustrate high buying and selling interest at specific price levels, which can be indicative of support and resistance. It's common to see the price to face little resistance when traveling between levels that have low Volume, but the price may experience difficulty moving above or below areas with Higher Volume. 

We recommend that you use this in confluence with other tools in this indicator to highlight key levels.

We have found it to be very effective on the 1hr where price will often times test the 1hr POC or Point of Control which is the highest volume area on the Volume Profile.

Settings

The Lookback is the total number of previous candles that are used to calculate the volume profile. This higher the value the more candles are used in the Volume Profile calculation. A lower value means that the volume profile is more local to the current Price Action. 

Row Size is th enumber of rows of horizontal bars used in the Volue Profile calculation

Width (% of the Box) will determine the length of the bars as they are displayed on the volume profile

Flip Histogram allows you to flip the histogram to be on the right side of the bars, we recommend using it as is from the left side of the screen. 

Standard allows you to pick the standard color of the volume profile.

Gradient can be toggled on/off and allow you to use the Volume Profile as a gradient between 2 separate colors.