JELLY MASTER PRO

The JELLY MASTER PRO indicator provides an institutional-style trading framework that integrates multi-timeframe trend bias, volume confirmation, and execution signals to identify high-probability continuation trades.

Usage

The Usage section describes how the script can be used to achieve confluence in various market regimes. The system is modular, allowing traders to toggle specific layers of data depending on their preference for chart cleanliness.

• Trend Bias: The indicator determines market direction using a combination of EMA structures, VWAP positioning, and RSI strength. Bullish conditions are indicated by green candle colors, while bearish conditions are indicated by red.
• Execution Labels: Small "BUY" and "SELL" labels appear based on UT Bot crossovers filtered by trend and optional volume or momentum conditions.
• VWAP Positioning: A central black line represents the VWAP, serving as a benchmark for institutional value. Trading above the VWAP suggests a bullish environment, while trading below suggests a bearish environment.
• RSI Take Profit Dots: Dots appear on the chart when the RSI reaches overbought or oversold levels (e.g., 75/25) during trending moves. These assist in scaling out of positions or tightening stop losses.
• Opening Range Breakout (ORB): The tool plots the 5-minute New York opening range (6:30 AM – 6:35 AM PST). These levels serve as critical support and resistance zones for intraday breakouts.
• Dashboard: A visual table provides a multi-timeframe summary (5M, 15M, 30M, 4H) of trend alignment, volume strength, and RSI exhaustion status.

Details

The script is constructed as a confluence engine. It utilizes the UT Bot strategy logic for its primary entry signals, which involves an ATR-based trailing stop mechanism. For trend identification, it calculates multiple EMAs and the VWAP. The volume filter ensures signals only fire when participation is higher than the moving average of volume by a user-defined multiplier. The "Extreme" candle colors and TP dots are driven by RSI over-extension logic, signaling when a trend may be nearing exhaustion.

Settings

Core & Modules

• Show Buy/Sell Labels: Toggles the visibility of execution signals.
• Show VWAP: Toggles the Volume Weighted Average Price line.
• Show Candle Colors: Enables or disables trend-based bar coloring.
• Show Optional Modules: Toggles for EMAs, SMA 200, ORB levels, and Bollinger Bands.

Indicator Parameters

• EMA/SMA Settings: Adjusts the lengths for Fast EMA, Slow EMA, and the 200 SMA.
• RSI/Stoch RSI: Configures the periods and overbought/oversold thresholds for momentum and exhaustion tracking.
• Volume Multiplier: Sets the threshold for "strong volume" relative to its moving average.
• UT Bot Settings: Adjusts the sensitivity and ATR period for the core execution signals.

Session & ORB

• ORB Session/Timezone: Defines the specific time window and timezone for calculating the Opening Range.
• Session Boxes: Toggles visual boxes for Asia, London, and New York trading sessions.

Filters

• Use Trend/Volume/Stoch Filters: When enabled, these require specific alignment (e.g., price above VWAP and high volume) before a Buy/Sell label is plotted.

FAQ

How do I interpret the dark green or dark red candles? These represent RSI exhaustion. Dark green indicates extreme overbought conditions in an uptrend, while dark red indicates extreme oversold conditions in a downtrend.

Can I use this for scalping or swing trading? Yes, the modular nature allows you to adjust the EMA and UT Bot sensitivity settings to suit different timeframes, though it is optimized for intraday trend following.

How can I access JELLY MASTER PRO? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.