To gain access to the indicators, please submit your TradingView username with the form below. Please do not submit your username via other means.
After your indicator access is granted, you will be notified via TradingView. Please check under your Invite-Only Indicators. You will typically receive access within 24 hours.
Setting Up TradingView
You need a TradingView account to use the Indicators.
If you do not have an account, click here sign up here. (A free account works too.)
- Log into your TradingView account.
- Submit your TradingView username using the form below. We will grant you access to the indicators as soon as possible.
Submit Your TradingView Username
Loading the Indicators
You will receive a notification via TradingView once the indicator access is granted.
After receiving the notification,
- Open up a chart with TradingView.
- Click the Indicators button on top.
- From the left panel of the pop-up, select Invite-Only Indicators.
- You should see three indicators with names starting with Galen Woods. Select the indicator you wish to load.
Using The Indicators
Galen Woods Price Action Timeframe Index (PATI)
You can use this indicator to find the minimum time-frame that is suitable for price action analysis.
The time-frame is amenable to price action analysis if the index remains below 0.5.
If the index rises above 0.5, the time-frame might not be suitable for price action analysis. In that case, consider increasing your time-frame.
It is possible for the plot to stay at zero value for the entire chart. It is not an error. It simply means that the timeframe is amenable to price action analysis as explained in Volume 2 of the Course Books.
It is normal to find that only certain periods in a day are suitable for price action analysis. Use these indications to focus your trading efforts.
Note: This indicator is for assessing intraday time-frames.
Galen Woods Price Patterns
This indicator marks five price patterns. Refer to Volume 3 for the underlying concept of each pattern.
- Trend Bar Failure <TBF> – failure to follow-through with a short-term thrust
- Deceleration – weakening thrust
- Anti-Climax – climactic and exhaustive price thrust
- Congestion Zone – sideways action <shaded zones> including breakout failures <BOF>
- Pressure Zones – repeated buying or selling pressure <triangles>
Under Format >> Inputs tab >>
Calculate On Close is selected by default. If you unselect it, it will show tentative patterns that can be helpful for anticipating setups. However, the price patterns and zones are NOT confirmed unless it remains marked after the completion of the bar.
Pressure Zone Overlap Filter (in no. of ticks) affects the thickness of the pressure zones. Higher settings filter out thin pressure zones.
Under Format >> Style tab >>
You can show/hide specific patterns. Note that you may need to untick more than one box to hide a pattern.
For instance, you need to untick Selling Pressure 1, Selling Pressure 2, and Selling Pressure 3 to completely hide bearish Pressure Zones.
Tip: Consider hiding the Trend Bar Failure patterns as it is a common pattern that often overlaps with other patterns. Hiding its signals help to declutter the chart. It is also the easiest price pattern to spot without the help of an indicator, so you won’t lose much information by hiding it.
Galen Woods Reward-To-Risk
This indicator projects minimum targets for attaining positive expectancy given the probability of winning. You can use it to quickly judge if your intended target level offers positive expectancy.
It assumes that you are placing a stop-loss at the opposite end of the entry price bar. If you are using other stop placement methods, do not use this indicator.
Refer to Volume 4 Chapter 5.1.1 for more details.
Under Format >> Inputs tab >>
Enter the Probability of Winning based on your experience, track record, and current assessment of the setup. (Default is 40%.)
The Buffer input allows you to add a number of ticks to your risk amount to account for slippage and commissions.
Thefunction allows you to hide targets for entry bars with higher than average bar range. A wide range bar represents the need to risk more for that setup. Hence, this function hides the targets for relatively high-risk setups.