This indicator is an all-in-one "The Strat" script. This script displays the following:
- The Strat candle numbers (1's, 2's, & 3's)
- The Strat Combo labels along with trigger line
- Pivot Machine Gun ( PMG ) dynamic labels
- Hammer & Shooter candle labels
The Strat Candle Numbers label each candle, on any timeframe, either a 1, 2, or 3. 1's are inside bars of the previous candles. 2's take out only one side of the previous candle. And 3's go outside both sides of the previous candle.
The Strat Combo labels (which are made of the 1's, 2's, 3's outlined above) display labels when a Strat Combo occurs. The script displays a label, direction arrow, and trigger line for each Strat Combo. This indicator finds the following Strat Combos:
- 2-1-2 bullish reversal (BLR)
- 2-1-2 bullish continuation (BLC)
- 3-1-2 BLR
- 3-2-2 BLR
- 1-2-2 rev strat BLR
- 2-2 BLR
- 2-1-2 bearish reversal (BRR)
- 2-1-2 bearish continuation (BRC)
- 3-1-2 BRR
- 3-2-2 BRR
- 1-2-2 rev strat BRR
- 2-2 BRR
- Double inside candles
The Pivot Machine Gun (PMG) labels any 5 or more consecutive candles that make higher lows or 5 or more consecutive candles that make lower highs. A PMG can continue going in its direction or it can reverse and come back through the range. The logic in this indicator dynamically finds each level in a PMG and draws a line for easy identification.
The script also identifies if the candle type is a Hammer, Inverted Hammer, Shooting Star, or Hanging Man. These candle types are highly likely reversal points in price action.The indicator will plot a shape with a color coded icon identifying the candle. The distance between the shape and the candles can be manually adjusted in the inputs section.
This indicator has many style options. The user can independently toggle on/off the Strat numbers, boxes around the Strat Combos, and Hammer and Shooter shapes. Also all of the colors used in this script can be changed from the inputs section, so a user can easily change colors to match their current color scheme.
