Buyer and seller Waiting zones

The Buyer and seller Waiting zones indicator provides a multi-timeframe dashboard designed to track market structure shifts and identify key trend directions across various intervals.

Usage

The Usage section describes how traders can interpret the dashboard to understand market sentiment. The table displays the current trend (Bullish, Bearish, or Neutral) and the specific price action signal (Higher Highs + Higher Lows or Lower Highs + Lower Lows) for each selected timeframe.

Traders can use this tool to:

• Identify Confluence: Look for alignment across multiple timeframes (e.g., 1H, 4H, and 1D) to confirm high-probability trading zones.
• Spot Reversals: Monitor the "Signal" column for changes from "Mixed" to "HH + HL" or "LH + LL" which indicates a structural shift.
• Customize Visualization: Adjust the table position and size to fit various chart layouts without obstructing price action.

Details

The indicator utilizes a pivot-based logic to determine market structure. It identifies swing highs and swing lows based on a user-defined lookback length.

• Bullish Structure: Defined when the price exhibits both a Higher High (HH) and a Higher Low (HL) relative to previous pivots.
• Bearish Structure: Defined when the price exhibits both a Lower High (LH) and a Lower Low (LL).
• Neutral/Mixed: Occurs when the pivot sequence does not meet both criteria for a clear trend, suggesting a consolidation or transition phase.

The script uses request.security to fetch data from different timeframes (1m, 5m, 15m, 1H, 4H, 1D), ensuring that the dashboard remains updated with the latest structural developments regardless of the chart's current timeframe.

Settings

General Settings

• Swing Lookback Length: Determines the number of bars required to the left and right to confirm a pivot point.
• Table Position: Allows users to place the dashboard in different corners or sides of the chart.
• Table Size: Adjusts the text and cell scaling (Tiny to Large).

Timeframes

• Show [Timeframe]: Toggle switches to enable or disable specific timeframes (1m, 5m, 15m, 1H, 4H, 1D) within the table.

Colors

• Bullish Color: Sets the color for bullish trends and signals.
• Bearish Color: Sets the color for bearish trends and signals.
• Neutral Color: Sets the color for mixed or neutral market states.
• Header Background: Sets the background color for the table's header row.

FAQ

How do I access Buyer and seller Waiting zones?

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

What does "HH + HL" mean in the Signal column?

It stands for Higher High and Higher Low, which is the technical definition of an uptrend in market structure.

Can I set alerts for structural changes?

Yes, the indicator includes built-in alert functionality that triggers whenever the market structure trend changes on any of the enabled timeframes.