PROTECTED SOURCE SCRIPT
zavaUnni-MTF_Volume-Based Analysis
تم تحديثه
This Pine Script is designed for volume-based analysis across multiple timeframes. Users can select a specific timeframe, and based on the selected timeframe, the script calculates and projects key price levels such as potential highs and lows. The script also identifies significant buy and sell volumes, displaying them visually on the chart through lines and labels.
Key Points:
1.Timeframe Selection and Volume Analysis:
The script allows users to select a timeframe through an input field.
The selected timeframe is used as the basis for all subsequent volume and price calculations.
The core function vol_dir(string _TF) computes projected highs and lows based on volume data. This function determines whether the market is in a bullish or bearish phase by calculating the spread (spred) and its rate (spred_rate), and then averaging these over the selected timeframe.
2.Projected High and Low Calculation:
-Green Line: Represents the volume-based projected high for the selected timeframe (e.g., 1D).
This line acts as a key resistance level, and if the price reaches or exceeds this level, it serves as support.
-Red Line: Represents the volume-based projected low for the selected timeframe.
This line acts as a support level, and if the price reaches or falls below this level, it serves as resistance.
3.Price and Volume Indicators:
-Blue Line: Marks the previous 1D closing price, giving traders an additional reference point for recent price action.
-Green Dotted Line: Indicates the previous 1D projected high. This line serves as historical context for traders, showing where resistance was expected in the past.
-Red Dotted Line: Shows the previous 1D projected low, similarly providing historical support levels.
4.Trading Implications:
If the price breaks above the Green Line, it suggests strong bullish momentum, making short entries riskier.
Conversely, if the price drops below the Red Line, it indicates strong bearish momentum, where long entries should be avoided.
5.Volume Summation and Percentage Calculation:
The script tracks the buy and sell volumes over the selected timeframe, storing these in arrays.
It then calculates the total buy and sell volumes, along with their respective percentages of the total volume. These percentages help in assessing the relative strength of buyers versus sellers.
6.Visual Representation:
The script plots various lines representing the projected high, low, and real-time closing price.
Additionally, it uses the label function to display the buy and sell volume percentages directly on the chart.
A table is also generated at the bottom of the chart, summarizing the information for easy reference.
7.Dynamic Updates:
The script dynamically updates the projected lines and labels based on new data as it becomes available, ensuring that traders always have the latest insights.
The timeframe.change function triggers recalculations and updates the last high, low, and close values whenever the timeframe shifts.
Conclusion:
This script is a powerful tool for traders who rely on volume-based analysis to make informed decisions. By projecting key levels based on volume and price action, it helps identify critical support and resistance zones. The visual elements, including lines, labels, and tables, make it easier for traders to interpret the data and act accordingly. Whether trading intraday or on longer timeframes, this script provides a robust framework for assessing market conditions and planning trades
Key Points:
1.Timeframe Selection and Volume Analysis:
The script allows users to select a timeframe through an input field.
The selected timeframe is used as the basis for all subsequent volume and price calculations.
The core function vol_dir(string _TF) computes projected highs and lows based on volume data. This function determines whether the market is in a bullish or bearish phase by calculating the spread (spred) and its rate (spred_rate), and then averaging these over the selected timeframe.
2.Projected High and Low Calculation:
-Green Line: Represents the volume-based projected high for the selected timeframe (e.g., 1D).
This line acts as a key resistance level, and if the price reaches or exceeds this level, it serves as support.
-Red Line: Represents the volume-based projected low for the selected timeframe.
This line acts as a support level, and if the price reaches or falls below this level, it serves as resistance.
3.Price and Volume Indicators:
-Blue Line: Marks the previous 1D closing price, giving traders an additional reference point for recent price action.
-Green Dotted Line: Indicates the previous 1D projected high. This line serves as historical context for traders, showing where resistance was expected in the past.
-Red Dotted Line: Shows the previous 1D projected low, similarly providing historical support levels.
4.Trading Implications:
If the price breaks above the Green Line, it suggests strong bullish momentum, making short entries riskier.
Conversely, if the price drops below the Red Line, it indicates strong bearish momentum, where long entries should be avoided.
5.Volume Summation and Percentage Calculation:
The script tracks the buy and sell volumes over the selected timeframe, storing these in arrays.
It then calculates the total buy and sell volumes, along with their respective percentages of the total volume. These percentages help in assessing the relative strength of buyers versus sellers.
6.Visual Representation:
The script plots various lines representing the projected high, low, and real-time closing price.
Additionally, it uses the label function to display the buy and sell volume percentages directly on the chart.
A table is also generated at the bottom of the chart, summarizing the information for easy reference.
7.Dynamic Updates:
The script dynamically updates the projected lines and labels based on new data as it becomes available, ensuring that traders always have the latest insights.
The timeframe.change function triggers recalculations and updates the last high, low, and close values whenever the timeframe shifts.
Conclusion:
This script is a powerful tool for traders who rely on volume-based analysis to make informed decisions. By projecting key levels based on volume and price action, it helps identify critical support and resistance zones. The visual elements, including lines, labels, and tables, make it easier for traders to interpret the data and act accordingly. Whether trading intraday or on longer timeframes, this script provides a robust framework for assessing market conditions and planning trades
ملاحظات الأخبار
The new feature introduces the power_dir variable to calculate bullish and bearish signals by considering the relationship between the current price and key price levels based on different timeframes. The up and dn conditions are used to add visual markers to the chart according to these signals. Additionally, emojis are used to make these signals more intuitive: 🔥 for bullish signals and ❄️ for bearish signalsملاحظات الأخبار
Add a title to the plot.ملاحظات الأخبار
Change the default value in the input.ملاحظات الأخبار
The projected high and low prices are divided into minimum and maximum values. The Green Line represents the maximum projected high, the Teal Line indicates the minimum projected high, the Orange Line shows the minimum projected low, and the Red Line represents the maximum projected low. These lines serve as support and resistance levels.
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