ballenas by ErnestoWhat does this indicator do?
High Volume:
Calculates the average volume of the last n candles (configurable).
Marks candles with volume greater than the average multiplied by a factor (adjustable).
Candle Body:
Marks candles with a large body compared to their range (adjustable ratio).
Direction:
Green circle (buy): When the candle is bullish (close > open) and meets high volume and a large body.
Red circle (sell): When the candle is bearish (close < open) with high volume and a large body.
Automatic alerts: You will receive an alert when an institutional buy or sell is detected.
📊 How to use it?
Open the Pine Editor in TradingView.
Copy and paste this code.
Click Save and then Add to Chart.
Configure alerts according to your needs.
With this, you'll have a real-time indicator that displays circles on the candle itself when large volume purchases or sales are detected.
مؤشرات اتساع النطاق
ballenas by ErnestoWhat does this indicator do?
High Volume:
Calculates the average volume of the last n candles (configurable).
Marks candles with volume greater than the average multiplied by a factor (adjustable).
Candle Body:
Marks candles with a large body compared to their range (adjustable ratio).
Direction:
Green circle (buy): When the candle is bullish (close > open) and meets high volume and a large body.
Red circle (sell): When the candle is bearish (close < open) with high volume and a large body.
Automatic alerts: You will receive an alert when an institutional buy or sell is detected.
📊 How to use it?
Open the Pine Editor in TradingView.
Copy and paste this code.
Click Save and then Add to Chart.
Configure alerts according to your needs.
With this, you'll have a real-time indicator that displays circles on the candle itself when large volume purchases or sales are detected.
Destek Direnç Çizgileri (5 Seviye)Support and Resistance Levels (5 Levels) (Pine Script® v5)
Description
This indicator calculates pivot, support, and resistance levels using daily data and displays these levels on the chart. These levels help identify potential support or resistance zones for the price. A total of 5 key levels are calculated: Pivot, Resistance 1, Resistance 2, Support 1, and Support 2.
Features
Pivot Calculation: The pivot point is calculated by taking the average of the price.
Resistance Level 1 (Res1): The first resistance level is calculated based on the pivot point.
Resistance Level 2 (Res2): The second resistance level is calculated based on the pivot and price range.
Support Level 1 (Sup1): The first support level is calculated based on the pivot point.
Support Level 2 (Sup2): The second support level is calculated based on the pivot and price range.
Usage
Pivot Point: It is considered as the middle level and is used to analyze price movements.
Resistance and Support Levels: These levels indicate potential reversal or pause areas for the price. They are important decision points for trading strategies.
RSI STRATEGYThis Pine Script code is a complex trading strategy that combines multiple technical indicators including RSI, Cyclic RSI, CCI, Choppiness Index, and Bollinger Bands. Here's a breakdown of what it does:
Main Components:
Uses both standard RSI and Cyclic RSI (a modified version of RSI)
Implements pivot point trend lines (support/resistance)
Includes a "MOST" indicator (similar to SuperTrend) for trend following
Adds additional indicators like CCI, Choppiness Index, and Bollinger Bands %B
Key Features:
Plots RSI with a WMA (Weighted Moving Average) line
Identifies trend lines automatically based on pivot points
Generates buy/sell signals based on crossovers between RSI and its moving average
Includes noise filtering options for the RSI values
Has alert conditions for buy/sell signals
Visual Elements:
Stepped RSI line that changes color based on its position relative to the WMA
Trend lines (support/resistance) in different colors
Signal labels with emojis (🐻 for sell, 🚀 for buy)
A midline at 50 for reference
Custom Calculations:
Special VAR (Variable Index Dynamic Average) moving average type
Cyclic RSI calculation with vibration and torque parameters
Zigzag pattern detection for identifying swing highs/lows
Input Options:
Multiple choices for RSI type (standard or cyclic)
Different noise filtering options
Various moving average types (SMA, EMA, WMA, etc.)
Adjustable lengths for all indicators
The strategy appears to be designed for mean-reversion trading using RSI, with additional trend-following elements from the MOST indicator. The combination of multiple indicators suggests it's looking for confluence between different technical factors before generating signals.
Note that this is quite a complex script with many components, which could lead to overfitting if not properly tested. The effectiveness would depend heavily on the chosen parameters and market conditions.
Moving average with different timeThis script allowing you to plot up to 6 different types of moving averages (MAs) on the chart, each with customizable parameters such as type, length, source, color, and timeframe. It also allows you to set different timeframes for each moving average.
Key Features:
Multiple Moving Averages: You can add up to 6 different moving averages to your chart.
Each MA can be one of the following types: SMA, EMA, SMMA (RMA), WMA, or VWMA.
Custom Timeframes: Each moving average can be applied to a specific timeframe, giving you flexibility to compare different periods (e.g., a 50-period moving average on the 1-hour chart and a 200-period moving average on the 4-hour chart).
Customizable Inputs:
Type: Choose between SMA, EMA, SMMA, WMA, or VWMA for each MA.
Source: You can select the price data source (e.g., close, open, high, low).
Length: Set the number of periods (length) for each moving average.
Color: Each moving average can be assigned a specific color.
Timeframe: Customize the timeframe for each moving average individually (e.g., MA1 on 15-minute, MA2 on 1-hour).
User Interface:
The script includes a data window display for each moving average, allowing you to control whether to show each MA and configure its settings directly from the settings menu.
Flexible Use:
Toggle individual moving averages on and off with the show checkbox for each MA.
Customize each MA's parameters without affecting others.
Parameters:
MA Type: You can choose between different moving averages (SMA, EMA, etc.).
Source: Price data used for calculating the moving average (e.g., close, open, etc.).
Length: Defines the period (number of bars) for each moving average.
Color: Change the line color for each moving average for better visualization.
Timeframe: Set a different timeframe for each moving average (e.g., 1-day MA vs. 1-week MA).
Example Use Case:
You might use this indicator to track short-term, medium-term, and long-term trends by adding multiple MAs with different lengths and timeframes. For example:
MA1 (20-period) might be an SMA on a 1-hour chart.
MA2 (50-period) might be an EMA on a 4-hour chart.
MA3 (100-period) might be a WMA on a daily chart.
This setup allows you to visually track the market's behavior across different timeframes and better identify trends, crossovers, and other patterns.
How to Customize:
Show/Hide MAs: Enable or disable each moving average from the input menu.
Modify Parameters: Change the MA type, source, length, and color for each individual moving average.
Timeframes: Set different timeframes for each moving average for more detailed analysis.
With this Moving Average Ribbon, you get a versatile and visually rich tool to aid in technical analysis.
S5TW/S5FI/S5TH [SP500]This indicator plots three key S&P 500 breadth indices (S5TW, S5FI, S5TH), helping traders quickly identify market breadth conditions. Oversold (green background) and overbought (red background) conditions are highlighted based on customizable threshold levels, enhancing visual clarity for market timing.
5 Moving Averages Indicator5 Moving Averages Indicator
This indicator plots five customizable moving averages on the price chart, allowing traders to analyze multiple timeframes and trend layers simultaneously.
Each moving average can be set individually to SMA, EMA, or WMA.
All lengths are fully adjustable to fit different trading strategies.
Designed for traders who need to monitor short-term, medium-term, and long-term trends together.
Clean visual layout with color separation for clarity.
Use this tool to identify trend direction, potential crossover signals, and dynamic areas of support/resistance across different periods.
Ideal for scalping, day trading, and swing trading.
Disclaimer: This indicator is a tool to assist analysis and should not be considered financial advice. Always use with proper risk management.
Zig Zag + Fibonacci PROPlots ZigZag structure with optional Fibonacci retracement levels.
Helps identify recent highs/lows and possible support/resistance zones.
Customizable levels and alert on price cross.
ALDAYEL CANDLES🔍 ALDAYEL CANDLES – Indicator Description
ALDAYEL CANDLES is a precision-focused candlestick pattern indicator designed to highlight only the most reliable reversal signals on the chart. It filters out weak setups and noisy price action to deliver clean, high-quality trade opportunities.
✅ Key Features:
Reversal Patterns Covered:
Bullish Engulfing
Bearish Engulfing
Hammer
Shooting Star
Doji
High-Accuracy Filters Applied:
Trend Confirmation using EMA20 & EMA50
High Volume Validation (above 20-period average)
Strong Candle Body (based on ATR)
No signals during range-bound markets
Custom Signal Table:
Displays the latest 5 clean signals
Includes: Pattern name, direction, and strength
Uses alternating background shades for clarity and easy reading
Visual Chart Labels:
Clear signal icons: 🔼, 🔽, 🔨, ⭐, ⚪
Signal positions above or below bars for visual clarity
Alert Support:
Alerts are generated for each valid signal type
Ideal for automation or notifications via webhook
🎯 Why Use ALDAYEL CANDLES?
Unlike most candlestick indicators that produce dozens of unreliable signals, this tool focuses on quality over quantity. It's ideal for traders who want:
Clean charting
Strong confirmation
Fewer false entries
Confidence in reversals
🧠 Recommended Usage:
Use on 15min, 1H, or Daily timeframes
Combine with support/resistance or trendlines for extra confluence
Ideal for both swing and intraday trading
🔍 مؤشر ALDAYEL CANDLES – شرح تفصيلي
ALDAYEL CANDLES هو مؤشر احترافي مصمم لاكتشاف أقوى نماذج الشموع الانعكاسية بدقة عالية، من خلال فلترة الإشارات الضعيفة والعشوائية والتركيز فقط على الفرص القوية والواضحة في السوق.
✅ المميزات الرئيسية:
النماذج التي يكتشفها المؤشر:
نموذج الابتلاع الشرائي (Bullish Engulfing)
نموذج الابتلاع البيعي (Bearish Engulfing)
شمعة المطرقة (Hammer)
شمعة النجم الساقط (Shooting Star)
شمعة الدوجي (Doji)
فلترة احترافية للإشارات:
تأكيد الاتجاه باستخدام متوسطات EMA20 و EMA50
تأكيد الحجم (الفوليوم) بشرط أن يكون أعلى من المتوسط
تأكيد أن جسم الشمعة قوي باستخدام مؤشر ATR
تجاهل الإشارات أثناء تحرك السوق بشكل عرضي (Range)
جدول إشارات مميز:
يعرض آخر 5 إشارات قوية فقط
يحتوي على: نوع النموذج، الاتجاه، قوة الإشارة
تصميم احترافي بخلفية متدرجة لسهولة القراءة
رموز مرئية على الشارت:
🔼 🔽 🔨 ⭐ ⚪ لتوضيح نوع النموذج مباشرة
توضع الإشارة فوق أو تحت الشمعة حسب النوع
تنبيهات جاهزة:
ينبهك مباشرة عند ظهور أي نموذج مؤكد
مثالي للربط مع إشعارات أو Webhook تلقائي
🎯 لماذا تستخدم مؤشر ALDAYEL CANDLES؟
على عكس معظم المؤشرات التي ترسم إشارات كثيرة وضعيفة، هذا المؤشر يعتمد على مبدأ:
القليل القوي أفضل من الكثير المزعج
مناسب للمتداولين الذين يبحثون عن:
شارت نظيف وواضح
إشارات دقيقة
تقليل الفرص الوهمية
دعم الثقة في قرارات الدخول
🧠 أفضل طريقة للاستخدام:
ينصح باستخدامه على الفريمات: 15 دقيقة، ساعة، يومي
يُفضل دمجه مع مناطق دعم ومقاومة أو ترندات
مناسب للتداول اليومي أو التداول السوينغ
Hull MA with Support/Resistance📊 Combined Hull MA & Support/Resistance Indicator
🌟 Core Features Overview
This indicator integrates two powerful tools:
Hull Moving Average (Hull MA) - An optimized MA variant that reduces lag and closely follows price action.
Dynamic Support/Resistance System - Automatically identifies key price levels based on market structure.
Dual Advantage: Simultaneously identifies trends with Hull MA while pinpointing critical price zones for optimal entries.
⚙️ How It Works
Component Functionality Key Attributes Hull MA
- Trend identification
- Reversal signals via color changes - Low latency
- Color-coded (green/red) momentum
Support/Resistance - Key level detection
- Noise filtering via pivot points - Auto-adjusting
- Extended line visualization
📈 Practical Applications Trend Trading:
Buy when Hull MA turns green + price breaks Resistance
Sell when Hull MA turns red + price breaks Support
Breakout/Pullback Strategies:
Combine S/R breakouts with Hull MA slope for signal confirmation
Risk Management:
Place stop-loss orders beyond nearest S/R levels
⚡ Performance Optimization
Default Settings:
Hull MA: 16 periods (ideal for H1/D1 timeframes)
S/R: 1-bar pivot (short-term swing points)
Advanced Customization:
Increase Hull MA sensitivity by reducing periods
Widen S/R zones with Left/Right Bars >1
📌 Critical Notes
• Most effective in trending markets
• Recommended to combine with volume or RSI for confirmation
• Always backtest across multiple timeframes before live trading
💡 Pro Tip: Use Hull MA as primary trend filter - only trade when price retests S/R levels aligned with the MA's color.
Cumulative Delta Volume DivergenceCDV Divergence Indicator. Trading is about probabilities and no one indicator is going to give you a definite Buy/Sell signal. There are false positives. It can't tell you how high or low the price will go before it turns around. This is not financial advice. This is just a helpful addition to your toolbox :)
NY AM Session Quartile LinesNY AM Session Quartile Lines
This script automatically divides the New York AM session (6:00 AM to 12:00 PM NY time) into four clear quartiles.
It helps traders visualize the market structure by marking each new quartile with customizable vertical lines.
🔹 Features:
Configurable session start time (NY time).
Adjustable line color, width, and style (solid, dashed, or dotted).
Clean, lightweight design that fits any trading style.
Works across all instruments and timeframes that cover the NY session.
🔹 Perfect for:
Intraday traders who focus on New York session dynamics.
Identifying accumulation, manipulation, and distribution phases across the session.
Structuring the AM session into logical market segments for better planning and analysis.
🎯 Default Settings:
Start Hour: 6:00 AM NY
Line Style: Dashed
Line Color: Black
Line Width: 2
MOEX Sectors: % Above MA 50/100/200 (EMA/SMA)📊 Indicator Name:
MOEX Sector Breadth: % Above MA 50/100/200 (EMA/SMA)
📝 Description:
This indicator tracks market breadth across sector indices of the Moscow Exchange (MOEX). It calculates the percentage of sectors trading above selected moving averages (SMA or EMA) with user-defined periods (50, 100, or 200).
It provides a high-level view of market participation and internal strength, helping to identify broad trends, divergences, and potential reversals.
📦 Tracked MOEX Sector Indices:
mathematica
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Edit
MOEXOG — Oil & Gas
MOEXCH — Chemicals
MOEXMM — Metals & Mining
MOEXTN — Transport
MOEXCN — Consumer
MOEXFN — Financials
MOEXTL — Telecom
MOEXEU — Utilities
MOEXIT — Information Technology
MOEXRE — Real Estate
📈 How to Use:
>50% above MA 200 → Bullish market regime
<50% above MA 200 → Weak breadth, caution advised
>90% above MA 50 → Market may be overbought
<10% above MA 200 → Market oversold, possible bottom
Combine with the IMOEX index to assess participation behind major moves
Use as a trend filter or divergence detector
MOEX Sectors: % Above MA 50/100/200 (EMA/SMA)📊 Indicator Name:
MOEX Sector Breadth: % Above MA 50/100/200 (EMA/SMA)
📝 Description:
This indicator tracks market breadth across sector indices of the Moscow Exchange (MOEX). It calculates the percentage of sectors trading above selected moving averages (SMA or EMA) with user-defined periods (50, 100, or 200).
It provides a high-level view of market participation and internal strength, helping to identify broad trends, divergences, and potential reversals.
📦 Tracked MOEX Sector Indices:
mathematica
Copy
Edit
MOEXOG — Oil & Gas
MOEXCH — Chemicals
MOEXMM — Metals & Mining
MOEXTN — Transport
MOEXCN — Consumer
MOEXFN — Financials
MOEXTL — Telecom
MOEXEU — Utilities
MOEXIT — Information Technology
MOEXRE — Real Estate
📈 How to Use:
>50% above MA 200 → Bullish market regime
<50% above MA 200 → Weak breadth, caution advised
>90% above MA 50 → Market may be overbought
<10% above MA 200 → Market oversold, possible bottom
Combine with the IMOEX index to assess participation behind major moves
Use as a trend filter or divergence detector
IRUS: % stocks above SMA 50 / 100 / 200
📊 IRUS Breadth Indicators (MOEX Market Breadth)
This script shows market breadth conditions based on the percentage of stocks or sectors trading above selected moving averages (SMA or EMA) with customizable periods (50 / 100 / 200).
There are two modes available:
IRUS Ticker-Based Breadth
Calculates the % of liquid Russian stocks (IRUS group) trading above a selected MA.
Great for detailed breadth analysis based on individual stock participation.
Sector-Based Breadth
Calculates the % of major MOEX sector indices above their MAs.
A clean, high-level view of market strength across sectors.
Use these indicators to assess market health, detect divergences, and filter
Market Exposure Zones – Multi-Market📊 Market Exposure Zones – Multi-Market 📊
This indicator visually displays market exposure zones based on the relationship between key moving averages (10, 20, 50, and 200 SMA). It dynamically adapts to your chart’s exchange:
✅ NSE: Tracks CNX500
✅ NASDAQ/NYSE/AMEX: Displays NASDAQ and SPY
✅ ASX: Displays XJO
Color-coded exposure levels help guide risk positioning:
🔴 5% – Weak trend: 10MA < 20MA < 200MA
🌸 10–30% – Early recovery phase
🟠 30–70% – Strengthening momentum
🟢 70–100% – Full trend confirmation
Useful for position sizing, market timing, and understanding trend structure.
⚠️ Disclaimer:
This tool is for informational and educational purposes only. It does not constitute financial advice. Please use it at your own discretion and manage your risk accordingly.
TripleTP Filter ProThis strategy is a sophisticated trading system that combines multiple technical indicators to identify entry and exit points in the market. Here are the key positives of the strategy without revealing the proprietary code details:
Strategy Strengths
Triple Take Profit Mechanism
Implements a well-structured take profit system with three distinct levels, allowing for partial profit taking at different price points. This helps maximize returns while keeping a portion of the position open for potential continued price movement.
Percentage-Based Position Sizing
Each take profit level can be configured with a specific percentage of the position, allowing for customized risk management.
Dual Confirmation System
Entry signals require confirmation from two separate technical indicators , reducing false signals and increasing reliability.
Smart Filtering
Uses advanced filtering techniques that adapt to market volatility, creating a responsive system that can work in different market conditions.
Directional Trend Detection
Incorporates trend detection that identifies whether the market is in an upward or downward movement, ensuring trades align with the prevailing direction.
Signal Reset Logic
Includes an option to wait for new signals after take profits are hit, preventing premature re-entry into potentially exhausted moves.
Time Window Configuration
Allows testing and execution within specific date ranges, useful for backtesting and performance analysis.
Adaptive Volatility Measurement
Uses multiple methods to assess market volatility including ATR, Average Change, and Standard Deviation.
The strategy demonstrates sophisticated market analysis techniques and thoughtful risk management principles, making it suitable for traders who want to capture profits at multiple levels while maintaining a disciplined approach to entries and exits.
Ultimate Volatility AnalyzerThis script uses volatility indicators to give directions of any asset. The moving average, price above long and short below. As the price comes out of the squeeze if the price is above the average it usually long and short below it. Very simple. When the average is going sideways stay out of the trade. Use with combination of other indicators but work well on its own. Use anytime frame you want.
Sonic R+EMA PYTAGOSonic R is a famous discovery of a trader from Singapore. This is a famous trader with topics that attract great interest from the community. Here we will learn about the Sonic R indicator through the following contents:
What is Sonic R?
Install Sonic R on Tradingview
Structure of the Sonic R indicator
03 applications of the Sonic R indicator
Sonic R system rules
How to use Sonic R effectively in trading
06 notes when using Sonic R
What is Sonic R?
Sonic R is an indicator that has been used for a long time in the world, but in Vietnam it has only been popular in the past few years. This EMA set still has the properties of all EMAs:
Trend: Price is above Sonic R for an uptrend, below Sonic R for a downtrend.
Price goes too far and tends to converge with the EMA.
Dynamic support and resistance: price breaks through the EMA and acts to return to test.
Sonic R is an indicator like a moving support resistance resistance with a combination of EMA lines. Including EMA 34, 89 and 200. So why EMA 34 and 89? According to Elliott wave theory, each large wave will have 34 main waves and 89 corrective waves. The EMA lines act as psychological support and resistance. The larger the EMA, the greater the resistance.
Moving Average PairSonic R is a famous discovery of a trader from Singapore. This is a famous trader with topics that attract great interest from the community. Here we will learn about the Sonic R indicator through the following contents:
What is Sonic R?
Install Sonic R on Tradingview
Structure of the Sonic R indicator
03 applications of the Sonic R indicator
Sonic R system rules
How to use Sonic R effectively in trading
06 notes when using Sonic R
What is Sonic R?
Sonic R is an indicator that has been used for a long time in the world, but in Vietnam it has only been popular in the past few years. This EMA set still has the properties of all EMAs:
Trend: Price is above Sonic R for an uptrend, below Sonic R for a downtrend.
Price goes too far and tends to converge with the EMA.
Dynamic support and resistance: price breaks through the EMA and acts to return to test.
Sonic R is an indicator like a moving support resistance resistance with a combination of EMA lines. Including EMA 34, 89 and 200. So why EMA 34 and 89? According to Elliott wave theory, each large wave will have 34 main waves and 89 corrective waves. The EMA lines act as psychological support and resistance. The larger the EMA, the greater the resistance.
RSI + Stochatic RSI BOTSonic R is a famous discovery of a trader from Singapore. This is a famous trader with topics that attract great interest from the community. Here we will learn about the Sonic R indicator through the following contents:
What is Sonic R?
Install Sonic R on Tradingview
Structure of the Sonic R indicator
03 applications of the Sonic R indicator
Sonic R system rules
How to use Sonic R effectively in trading
06 notes when using Sonic R
What is Sonic R?
Sonic R is an indicator that has been used for a long time in the world, but in Vietnam it has only been popular in the past few years. This EMA set still has the properties of all EMAs:
Trend: Price is above Sonic R for an uptrend, below Sonic R for a downtrend.
Price goes too far and tends to converge with the EMA.
Dynamic support and resistance: price breaks through the EMA and acts to return to test.
Sonic R is an indicator like a moving support resistance resistance with a combination of EMA lines. Including EMA 34, 89 and 200. So why EMA 34 and 89? According to Elliott wave theory, each large wave will have 34 main waves and 89 corrective waves. The EMA lines act as psychological support and resistance. The larger the EMA, the greater the resistance.
Px & Vol Up/Dn Ratio with MAPx & Vol Up/Down Ratio with Moving Average
This custom indicator calculates the Price Up/Down Ratio and Volume Up/Down Ratio over a user-defined lookback period. It provides a unique perspective on market strength by comparing the magnitude of gains vs. losses (in both price and volume) — helping traders gauge the underlying momentum and accumulation/distribution behavior.
🔍 Core Features:
Price Ratio: Total positive price change divided by the absolute value of total negative price change.
Volume Ratio: Total volume on up days divided by total volume on down days.
Moving Average Overlay: Smooth each ratio with your choice of moving average — SMA, EMA, or WMA.
Customizable lookback period and moving average length for flexible analysis.
🧭 Use Case:
A rising Price Ratio above 1 indicates stronger positive price action than negative.
A rising Volume Ratio above 1 suggests increased participation on up moves — a sign of accumulation.
Divergences between Price and Volume ratios can provide early clues on trend reversals or weakening momentum.
🧱 Visual Aids:
Includes six key horizontal reference lines at levels: 0.5, 0.75, 1, 1.25, 1.5, 2 to benchmark current ratio strength.
Color-coded plots for clarity:
Blue for Price Ratio
Green for Volume Ratio
Dskyz (DAFE) Aurora Divergence - Dskyz (DAFE) Aurora Divergence Indicator
Advanced Divergence Detection for Traders. Unleash the power of divergence trading with this cutting-edge indicator that combines price and volume analysis to spot high-probability reversal signals.
🧠 What Is It?
The Dskyz (DAFE) Aurora Divergence Indicator is designed to identify bullish and bearish divergences between the price trend and the On Balance Volume (OBV) trend. Divergence occurs when the price of an asset and a technical indicator (in this case, OBV) move in opposite directions, signaling a potential reversal. This indicator uses linear regression slopes to calculate the trends of both price and OBV over a specified lookback period, detecting when these two metrics are diverging. When a divergence is detected, it highlights potential reversal points with visually striking aurora bands, orbs, and labels, making it easy for traders to spot key signals.
⚙️ Inputs & How to Use Them
The indicator is highly customizable, with inputs grouped under "⚡ DAFE Aurora Settings" for clarity. Here’s how each input works:
Lookback Period: Determines how many bars are used to calculate the price and OBV slopes. Higher values detect longer-term trends (e.g., 20 for 1H charts), while lower values are more responsive to short-term movements.
Price Slope Threshold: Sets the minimum slope value for the price to be considered in an uptrend or downtrend. A value of 0 allows all slopes to be considered, while higher values filter for stronger trends.
OBV Slope Threshold: Similar to the price slope threshold but for OBV. Helps filter out weak volume trends.
Aurora Band Width: Adjusts the width of the visual bands that highlight divergence areas. Wider bands make the indicator more visible but may clutter the chart.
Divergence Sensitivity: Scales the strength of the divergence signals. Higher values make the indicator more sensitive to smaller divergences.
Minimum Strength: Filters out weak signals by only showing divergences above this strength level. A default of 0.3 is recommended for beginners.
Signal Cooldown (Bars): Prevents multiple signals from appearing too close together. Default is 5 bars, reducing chart clutter and helping traders focus on significant signals.
These inputs allow traders to fine-tune the indicator to match their trading style and timeframe.
🚀 What Makes It Unique?
This indicator stands out with its innovative features:
Price-Volume Divergence: Combines price trend (slope) and OBV trend for more reliable signals than price-only divergences.
Aurora Bands: Dynamic visual bands that highlight divergence zones, making it easier to spot potential reversals at a glance.
Interactive Dashboard: Displays real-time information on trend direction, volume flow, signal type, strength, and recommended actions (e.g., "Consider Buying" or "Consider Selling").
Signal Cooldown: Ensures only the most significant divergences are shown, reducing noise and improving usability.
Alerts: Built-in alerts for both bullish and bearish divergences, allowing traders to stay informed even when not actively monitoring the chart.
Beginner Guide: Explains the indicator’s visuals (e.g., aqua orbs for bullish signals, fuchsia orbs for bearish signals), making it accessible for new users.
🎯 Why It Works
The indicator’s effectiveness lies in its use of price-volume divergence, a well-established concept in technical analysis. When the price trend and OBV trend diverge, it often signals a potential reversal because the underlying volume support (or lack thereof) is not aligning with the price action. For example:
Bullish Divergence: Occurs when the price is making lower lows, but the OBV is making higher lows, indicating weakening selling pressure and potential upward reversal.
Bearish Divergence: Occurs when the price is making higher highs, but the OBV is making lower highs, suggesting weakening buying pressure and potential downward reversal.
The use of linear regression ensures smooth and accurate trend calculations over the specified lookback period. The divergence strength is then normalized and filtered based on user-defined thresholds, ensuring only high-quality signals are displayed. Additionally, the cooldown period prevents signal overload, allowing traders to focus on the most significant opportunities.
🧬 Indicator Recommendation
Best For: Traders looking to identify potential trend reversals in any market, especially those where volume data is reliable (e.g., stocks, futures, forex).
Timeframes: Suitable for all timeframes. Adjust the lookback period accordingly—smaller values for shorter timeframes (e.g., 1H), larger for longer ones (e.g., 4H or daily).
Pair With: Support and resistance levels, trend lines, other oscillators (e.g., RSI, MACD) for confirmation, and volume profile tools for deeper analysis.
Tips:
Look for divergences at key support/resistance levels for higher-probability setups.
Pay attention to signal strength; higher strength divergences are often more reliable.
Use the dashboard to quickly assess market conditions before entering a trade.
Set up alerts to catch divergences even when not actively watching the chart.
🧾 Credit & Acknowledgement
This indicator builds upon the classic concept of price-volume divergence, enhancing it with modern visualization techniques, advanced filtering, and user-friendly features. It is designed to provide traders with a powerful yet intuitive tool for spotting reversals.
📌 Final Thoughts
The Dskyz (DAFE) Aurora Divergence Indicator is more than just a divergence tool; it’s a comprehensive trading assistant that combines advanced calculations, intuitive visualizations, and actionable insights. Whether you’re a seasoned trader or just starting out, this indicator can help you spot high-probability reversal points with confidence.
Use it with discipline. Use it with clarity. Trade smarter.
**I will continue to release incredible strategies and indicators until I turn this into a brand or until someone offers me a contract.
-Dskyz
