Profile PictureJonathan Britton

Market Maker Algo 2.0 for Trading View

1 rating

Market Maker

Script version 2.0


The Market Maker algo/indicator is a collection of indicators that can be customized to suit your needs and trading strategies regardless of markets and market conditions.  


The algo/indicator:

  • Plots Simple Moving Avg
  • Plots Exp Moving Avg
  • Plots Volume Weighted Moving Avg
  • Plots SMA crosses that can be customized
  • Plots EMA crosses that can be customized
  • New Innovative Volume Weighted crossover 
  • Auto Plots FIB based on Opening Range out to 200%
  • Screener
  • Volume Candles

Confirmations of movements 

Using the combination of the ORB, SMA and then VWMA crosses gives trade confirmations with Long/Short signals. 


The script allows traders to customize cross settings to suit their trading styles, from safe to aggressive to everything in between. 

Another layer of confirmation this script provides is the ORB (Opening Range Breakout) which easily gives Fibonacci levels as the day progresses. 



Volume Candles

With the added volume of candles, traders can quickly determine that volume is increasing either on the buyer's or sellers' side based on the candle color, which could also be another layer of confirmation. 


Screener

The screener table is an innovative way to add a quick and easy way to see what other stocks, crypto, forex, or indexes are performing with the SMA crosses settings you are utilizing to visualize directions quickly and easily. 



Here are my recommended settings 

  • Turn on “Extended trading” in Chart Settings.
    1. You can see the price action during none market hours. 
    2. The ORB starts its calculations at 9 AM in order to start plotting the ORB at 10 AM.
  • I start every morning by looking at and plotting the SMA values on different time frames, and once the market opens, I turn off most of the SMA/EMAs only using the 5, 50 SMA, and EMA 34, 200.

Currently working to add more utility to Market Maker very soon.


This is an example as the script was thoroughly beta/backtested to work. The script can unlock the door but always use the tools in the script and other timeframes to make confirmations on entries to maximize your gains.

Each sale comes with:

Free Dedicated Support

Free Updates/Upgrades

Free New Scripts/Indicators

Free New TOS/TV scanners


PRE SALE Aug 28- AUG 31 the First month is $20 off for both packages. These prices will end on Dec 31, 2022, so LOCK in the pre-sale prices for the year while it lasts.


Enjoy!!! :) 

Scripts are for Trading View only


DISCLAIMER

 

*THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY.

NO INVESTMENT ADVICE OR RECOMMENDATIONS ARE MADE IN THIS COURSE.

PLEASE CHECK WITH YOUR FINANCIAL ADVISOR FOR INVESTMENT ADVICE EXCLUSIVE TO YOUR SITUATION.*

RESULTS ARE NOT GUARANTEED.


Example:

SPY 7/18 PUT Play

 


SMA 2/10
VWMA 10

This is from SPY on July 18th, where I had a 4000% SPY put I did while watching my script on the SPY charts.


As many already know,  I do not take any trades for the first 30 mins of the day as that is where most of the volatility takes place. Due to that, many are caught offsides when SPY (or whatever you are watching quickly flips to the other side) and where many losses are made. 

 

Here are the FIBs and the Levels, the new ORB and the FIBs are all based on the Gray Middle ORB


That area between open until the ORB (Opening Range Breakout) along with the fibs are displayed I call the NO TRADE ZONE.  As I said, previous losses of volatile moves are made during this time, and I have lost many in this area. So no will not make/take any trades during this time frame. 

 


 

Now we move on to the area beyond the “NTZ” (No Trade Zone). Since the ORB w/ Fibs are showing us how we are still not seeing any clear direction on which way SPY will go. The signals are still showing Fast 2 / Slow 6 cross. However, the bars are not breaking from the lower ORB (Red Circles are the lower ORB and the 61.8% Fib), and we are starting to see some VWMA crosses.


To me, SPY isn't breaking down through the lower ORB or upward through the ORB middle. No play or a clear direction is being shown, just chop and SPY being flat. Patience is key here. 




 

As SPY keeps rejecting along the Middle ORB, that has become major resistance, and the Orange line is first 78.6% FIB level, which is now acting as support. Around the 1220 time frame, a bar closes BELOW the VWMA (10 is what I am testing out), and the next bar breaks through the fib level to close right on the lower ORB that was its previous support. 

 

Let's return to the basics here, Support and Resistance and Fibs. I will not dive into those, but if you don't understand them, learn them or ask about them if you don't understand If I were you. 

 

Ok, we have 3 things here that confirm this is a valid play. 

  1. Spy is breaking down from resistance. 
  2. Spy has closed a candle below VWMA. 
  3. Spy has continued to break through support and then breaks through another support. 

 


 

That bar is the bar that entered my SPY 384 PUT as the current price of SPY at that time was 387.16. 

 


 

As it was riding another FIB level and also below the VWMA, SPY was riding a 38.2% FIB level. It also found support on another 23.6% FIB level (Purple Line) and then found resistance on the FIB level above it.  Eventually, SPY couldn't break through the resistance and broke down further, and broke through the 23.6% FIB level at the purple line and tested the 0% level at the final red line. 

 


 

While it did find some support on that 0% FIB level, it could not CLOSE above the 23.6% FIB level (Purple Line).  Thus not only getting rejected there but also rejecting the VWMA line at this point, I knew SPY would head lower. It would test along the way to Lower Lows and got rejected not once but 3 more times by the VWMA. Each rejection SPY did move lower. 


I do my SPY levels every morning, and I post them so that everyone else is aware as SPY was dropping through all of my levels, I knew that the 380.54 SPY could find support, and support is what it found. 

 


At that point, I exited out of my SPY put.  I have been using this version of the script for some time, and another great play takes $7.00 up to $261 bucks. 

 


 


I am currently testing out the close, sadly I had to split off the ORB from the main script, but once this version goes live, the ORB will be FREE.

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All in one indicator for all market conditions.

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Market Maker Algo 2.0 for Trading View

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