Add SP2L Poursamadi Indicator to TradingView - TradingFinder

The SP2L Poursamadi Indicator is a specialized trading strategy based on spike moves and the 2-leg AB=CD pattern, available in TradingView.

Price action traders can apply this indicator on their charts to identify entry points, stop loss, and take profit levels, and if the setup is confirmed, execute buy or sell trades.

SP2L Poursamadi Indicator Table

Below, the information related to the SP2L PourSamadi Indicator is provided.

SP2L Poursamadi Indicator at a Glance

The SP2L Poursamadi Indicator is designed based on the combination of spike candles and the AB=CD 2-leg move.

This tool intelligently detects sharp market moves and sets the entry point based on the breakout of the last spike candle.

Stop loss is placed at the initial wave point A, and the distance between entry and stop loss is used to calculate take profit with a 1:1 risk-to-reward ratio. Traders can also use wave CD as the profit target.

A spike candle consists of a 3-candle aligned pattern where the middle candle shows imbalance and strong buying or selling pressure, usually formed after a consolidation phase.

The SP2L Indicator identifies wave AB and forecasts wave CD, automatically providing entry and exit conditions for high-quality short-term opportunities. It is applicable on M1 and M5 timeframes, making it suitable for scalping.

Uptrend in SP2L Poursamadi Indicator

On the 1-minute GBP/JPY chart, the SP2L Poursamadi Indicator identified a buy opportunity.

Forex traders can determine the entry point and enter a trade with a 1:1 risk-to-reward ratio. If price retraces, a 50% stop loss level is also provided for re-entry.

Downtrend in SP2L Poursamadi Indicator

On the 1-minute Nasdaq chart, after a spike move and breakout of the last spike candle, a sell opportunity is identified; In this case, traders can enter a sell position.

The SP2L Poursamadi Indicator automatically sets entry, stop loss behind the spike leg, and calculates take profit based on the risk-to-reward ratio.

SP2L PourSamadi Indicator Settings

In the image below, the settings of the SP2L PourSamadi Indicator are shown:

SPIKE FILTER | MOVEMENT

• Minimum Spike Bars: Minimum number of consecutive candles required for a valid spike;
• Movement Power: Enable/disable spike filter based on move strength.

SPIKE FILTER | GAP

• Gap Filter: Enable/disable gap filter;
• All Gaps: Select gap type to detect (All Gaps, Significant, Structural, Major).

SPIKE FILTER | DOJI

• Doji Tolerance: Allow or disallow doji candles in spike;
• Max Doji Body Ratio: Maximum body-to-candle ratio for classification as doji;
• Max Doji in Spike Ratio: Maximum allowed percentage of doji candles in spike.

TREND DETECTION

• Trend Detection: Enable/disable trend detection module using doji;
• Max Doji Body Ratio: Maximum body-to-candle ratio for doji classification in trend calculation;
• Candle Lookback: Number of candles used for calculating doji percentage in trend evaluation;
• Max Doji in Trend Ratio: Maximum allowed doji percentage in lookback for valid trend.

POSITION MANAGEMENT

• Stop-Loss Threshold: Enable/disable SL threshold feature and define its value for risk management;
• Risk-Reward Ratio: Set preferred risk-to-reward ratio (e.g., 1:1 or 1:2);
• Include Stop-Loss Threshold in R:R: Define whether SL threshold should be included in risk-to-reward calculations.

DISPLAY SETTING

• Display Mode: Choose between Setup (show setups) or Signal (show trading signals);
• Only Display the Last Position: Display only the most recent position on the chart if enabled.

ALERT

• Alert: Enable/disable alerts when a strategy setup is detected.

INPUT VALUES

• Inputs in status line: Display input values in status line.

Conclusion

The SP2L Poursamadi Indicator is a professional tool for price action traders in forex and crypto markets, helping identify scalping opportunities on charts.

It is designed based on spike moves and the AB=CD pattern, enabling traders to detect optimal entry points.

By setting SL and calculating TP automatically, it provides effective and professional capital management.