Cumulative Delta [TradingFinder] Volume + Periodic + EMA🔵 Introduction
To fully grasp the concept of Cumulative Volume Delta (CVD), it's essential first to understand Volume Delta. In trading and technical analysis, the term "Delta" typically refers to the difference between two values or the rate of change between two data points.
Volume Delta represents the difference between buying and selling pressure, calculated for each candlestick on a chart. This difference can vary across different timeframes.
A positive delta indicates that buying volume exceeds selling volume, while a negative delta shows that selling volume is greater. When buying and selling volumes are equal, the volume delta equals zero.
🟣 What is Cumulative Volume Delta (CVD)?
Cumulative Volume Delta (CVD) is a powerful tool in technical analysis that aggregates delta values for each candlestick, creating a comprehensive indicator that helps traders assess market trends.
Unlike the standard Volume Delta, which compares delta on a candle-by-candle basis, CVD provides insight into the overall buying and selling pressure during key market swings. A downward-trending CVD suggests that selling pressure is dominating, which is typically a bearish signal.
Conversely, an upward-trending CVD indicates bullish sentiment. This analysis becomes even more significant when comparing CVD with price action and market structure, helping traders to predict asset price directions.
By evaluating market highs and lows, one can determine the market trend. A consistent rise in these points indicates an uptrend, while a consistent fall suggests a downtrend.
🔵 How to Use
Understanding how to detect trend changes using Cumulative Volume Delta is crucial for traders. Typically, CVD aligns with market structure, moving in the same direction as price trends.
However, divergences between CVD and price trends or signs of exhaustion in volume can be powerful indicators of potential market reversals. Recognizing these patterns can help traders make informed decisions and improve their trading strategies.
🟣 Identifying Trend Exhaustion with Cumulative Volume Delta (CVD)
The Cumulative Volume Delta (CVD) indicator is especially effective in identifying weakening trends in the market. For instance, if gold's price hits a new low, but CVD does not follow suit, this may indicate a lack of seller interest despite the new low, signaling potential seller exhaustion.
Most traders interpret this as a possible reversal from a bearish to a bullish trend. Similarly, if gold reaches a new high but CVD fails to do the same, it can suggest that buyers lack the strength to push the market higher, indicating a possible trend reversal.
🟣 Utilizing Cumulative Volume Delta (CVD) Divergence in Price Trend Analysis
Another effective use of CVD is identifying divergences in price trends. For example, if CVD breaks a previous high or low while the price remains stable, this divergence often indicates that buying or selling pressure is being absorbed.
For instance, if CVD rises sharply without a corresponding increase in gold prices, it may suggest that sellers are absorbing the buying pressure, potentially leading to a strong sell-off. Conversely, if gold prices remain stable while CVD declines, it could indicate that buyers are absorbing selling pressure, likely leading to a price increase once selling subsides.
🔵 Setting
Cumulative Mode : It has three modes "Total", "Periodic" and "EMA". In "Total" mode, it collects the volume from the beginning to the end. In "Periodic" mode, it accumulates the volume periodically and in "EMA" mode, it calculates the moving average of the volume.
Period : You can set the period of " Periodic " and " EMA " modes.
Market Ultra Data : If you turn on this feature, 26 large brokers will be included in the calculation of the trading volume.
The advantage of this capability is to have more reliable volume data. You should be careful to specify the market you are in, FOREX brokers and Crypto brokers are different.
🔵 Conclusion
Cumulative Volume Delta (CVD) is a powerful analytical tool in financial markets that helps analysts and traders assess buying and selling pressure by aggregating and combining the volume delta for each candlestick.
CVD can indicate the strength or weakness of a market trend. When CVD moves upward, it signals that buying pressure is dominant and is considered a bullish signal; conversely, a downward movement in CVD indicates that selling pressure is stronger and is viewed as a bearish signal.
This indicator is particularly effective in identifying divergences and exhaustion in market trends. For example, if CVD does not align with price movements, it may suggest a potential trend reversal.
Traders use this information to make more informed trading decisions, especially when identifying entry and exit points in the market.
Overall, CVD is a tool that enables analysts to better understand market fluctuations and more accurately predict future market trends.
مؤشرات اتساع النطاق
Volume-Weighted RSI with HMA SmoothingThis script combines a Volume-Weighted RSI, smoothed with a custom Hull Moving Average (HMA), with a modified MACD based on normalized net volume.
Volume-Weighted RSI: It is calculated by adjusting the closing price with a normalized On-Balance Volume (OBV) and then applying an RSI. This approach weights the RSI according to volume, providing a more accurate measure of the strength of the price movement.
Modified HMA: A Hull Moving Average (HMA) is used to smooth the Volume-Weighted RSI, enhancing the ability to identify market trend changes.
Possible Reversal from Oversold:
The Volume-Weighted RSI crosses above the oversold level.
It is displayed as an upward green triangle at the bottom of the chart, indicating that the market might be exhausting its oversold conditions and potentially starting an upward reversal.
Possible Reversal from Overbought:
The Volume-Weighted RSI crosses below the overbought level.
It is displayed as a downward red triangle at the top of the chart, indicating that the market might be exhausting its overbought conditions and potentially starting a downward reversal.
Confirmation with the Modified MACD: For a more robust interpretation, the behavior of the modified MACD can be observed alongside the RSI cross.
The MACD is also modified, using normalized net volume (calculated as the cumulative change in the closing price multiplied by volume) as the input instead of the standard closing price.
The direction and color change of the MACD bars indicate the market's momentum.
Alerts: Alerts are set to trigger automatically when the modified RSI crosses the oversold or overbought levels.
Español:
Este script combina un RSI ponderado por volumen, suavizado con un Hull Moving Average (HMA) personalizado, con un MACD modificado basado en volumen neto normalizado.
RSI Ponderado por Volumen: Se calcula ajustando el precio de cierre con un OBV (On-Balance Volume) normalizado y luego aplicando un RSI. Este enfoque pondera el RSI según el volumen, proporcionando una medida más precisa de la fuerza del movimiento del precio.
HMA Modificado: Se utiliza un Hull Moving Average (HMA) para suavizar el RSI Ponderado por Volumen, mejorando la capacidad de identificar cambios en la tendencia del mercado.
Posible Reversión desde Sobreventa:
El RSI Ponderado por Volumen cruza por encima del nivel de sobreventa.
Se muestra como un triángulo verde hacia arriba en la parte inferior del gráfico, indicando que el mercado podría estar agotando las condiciones de sobreventa y comenzar una posible reversión al alza.
Posible Reversión desde Sobrecompra:
El RSI Ponderado por Volumen cruza por debajo del nivel de sobrecompra.
Se muestra como un triángulo rojo hacia abajo en la parte superior del gráfico, indicando que el mercado podría estar agotando las condiciones de sobrecompra y comenzar una posible reversión a la baja.
Confirmación con el MACD Modificado: Para una interpretación más robusta, se puede observar el comportamiento del MACD modificado junto con el cruce del RSI.
El MACD también está modificado, utilizando el volumen neto normalizado (calculado como el cambio acumulativo en el precio de cierre multiplicado por el volumen) como entrada en lugar del precio de cierre estándar.
La dirección y el cambio de color de las barras del MACD indican el impulso del mercado.
Alertas: Las alertas están configuradas para activarse automáticamente cuando el RSI modificado cruza los niveles de sobreventa o sobrecompra.
The GOD's EYE V1Here's a description for your script that aligns with the guidelines provided:
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**Title:** The GOD's EYE V1
**Description:**
"The GOD's EYE V1" is a powerful technical analysis tool designed for Forex traders who seek to identify high-probability trading opportunities based on price action and trend-following strategies.
**Key Features:**
1. **Dynamic Channel with Upper and Lower Bands:**
- The script uses a custom EMA-based channel to identify significant price levels. The upper and lower bands are dynamically calculated by adjusting the central EMA line with a fixed pip distance, providing a clear visual of potential support and resistance zones.
2. **Engulfing Candle Detection:**
- The script identifies bullish and bearish engulfing patterns, which are key reversal signals. These patterns are used in conjunction with the EMA channel to confirm potential trade entries.
- **Bullish Engulfing:** Triggered when a bearish candle is followed by a bullish candle that engulfs the previous candle's body, combined with the EMA cross above the upper band.
- **Bearish Engulfing:** Triggered when a bullish candle is followed by a bearish candle that engulfs the previous candle's body, combined with the EMA cross below the lower band.
3. **Customizable Parameters:**
- Traders can adjust the EMA length and the distance of the upper and lower lines from the central EMA to tailor the indicator to their specific trading strategy.
4. **Visual and Alert System:**
- The script provides clear visual signals on the chart, marking potential buy and sell opportunities with triangles above or below the candles. Alerts are also integrated to notify traders in real-time when a bullish or bearish engulfing pattern is detected.
**How It Works:**
- The indicator plots two key levels on the chart (Upper and Lower) based on the central EMA. These levels act as dynamic support and resistance.
- When the fast EMA crosses above the upper band and a bullish engulfing pattern is detected, a potential buying opportunity is signaled.
- Conversely, when the fast EMA crosses below the lower band and a bearish engulfing pattern is detected, a potential selling opportunity is signaled.
**Usage:**
- This indicator is designed for traders who prefer a trend-following approach combined with price action analysis. It is especially useful for those who trade on higher timeframes like the 4H or 1H charts.
- The alerts and visual signals help traders to stay on top of potential trades without constantly monitoring the charts.
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This description provides a clear overview of the indicator, explaining its features, how it works, and how traders can use it effectively. This should meet the publication guidelines for closed-source scripts.
Multi-Timeframe 325 SMA TouchMulti-Timeframe 325 SMA Touch Indicator
This versatile indicator detects and visualizes when the price touches (crosses over or under) the 325-period Simple Moving Average (SMA) across multiple timeframes. It's designed to help traders identify potential support and resistance levels across various time horizons.
Key Features:
Monitors 7 different timeframes: 30 minutes, 1 hour, 2 hours, 4 hours, 6 hours, 12 hours, and 1 day.
Customizable: Each timeframe can be toggled on or off individually.
Visual cues: Unique shapes and colors for each timeframe make it easy to distinguish touches on different time scales.
Adjustable SMA length: While defaulted to 325 periods, the SMA length can be modified to suit your strategy.
Current timeframe SMA: Displays the 325 SMA on the chart for additional context.
How it Works:
The indicator checks for price touches on the 325 SMA for each selected timeframe. When a touch occurs, it plots a distinct shape below the price bar:
30 minutes: Blue circle
1 hour: Green square
2 hours: Red triangle (up)
4 hours: Purple diamond
6 hours: Teal triangle (down)
12 hours: Orange X
1 day: White circle
The 325 SMA for the current chart timeframe is also plotted as a yellow line for reference.
Use Cases:
Identify potential support and resistance levels across multiple timeframes
Spot confluences where touches occur on multiple timeframes simultaneously
Enhance your multi-timeframe analysis for more informed trading decisions
Use as a filter or confirmation tool in your existing trading strategy
Customization:
You can easily customize the indicator by adjusting the SMA length or toggling specific timeframes on/off to focus on the time horizons most relevant to your trading style.
Harmonic, wave and Fibonacci [Hunter Algo]This Pine Script indicator is designed to identify various harmonic patterns, wave formations, and Fibonacci retracements directly on your TradingView charts. The script offers a comprehensive toolset for traders who use technical analysis to spot potential market reversals and continuation patterns.
Key Features:
Harmonic Pattern Detection: Automatically identifies and labels popular harmonic patterns like Bat, Gartley, Butterfly, Crab, Shark, and many more.
Fibonacci Levels: Displays key Fibonacci retracement levels, including 0.236, 0.382, 0.500, 0.618, 0.764, and 1.000, providing critical levels for entry, exit, and stop-loss placement.
Heiken Ashi Option: Option to use Heiken Ashi candles for pattern detection, providing smoother price action analysis.
Alternate Timeframe Support: Analyze patterns on different timeframes by enabling the alternate timeframe feature.
Customizable Display: Choose which patterns and Fibonacci levels to display, allowing you to focus on the most relevant data for your trading strategy.
This script is highly versatile, making it suitable for both novice and experienced traders looking to enhance their chart analysis with automated pattern recognition.
Whaley Breadth Thrust IndicatorThe Whaley Breadth Thrust Indicator (WBT) is a momentum-based technical indicator designed to identify the strength of market trends. It measures the market's breadth by comparing advancing stocks to declining stocks, providing insights into whether a market is in a bullish, neutral, or bearish state. This script calculates the indicator based on the advancing and declining U.S. stocks; however, it can be expanded to other markets as well.
Breadth Thrust Ratio (BTR):
This is calculated as the ratio of advancing stocks to the total number of advancing and declining stocks.
Formula: BTR = Advances / (Advances + Declines + small_offset), where the small offset prevents division errors.
Smoothing:
The BTR is smoothed using a 3-period Exponential Moving Average (EMA) to reduce noise and highlight significant trends.
Thresholds:
0.30: Indicates a strongly bearish market.
0.40: A bearish threshold; crossing below suggests bearish momentum.
0.60: A bullish threshold; crossing above suggests bullish momentum.
0.70: Indicates a strongly bullish market.
MM Market Range MapWhat this script does:
The purpose of this script is to help traders identify when the major sectors of the market are moving in one direction - also known as a "market trend day".
How this script works:
The indicator uses QQQ, SMH and NVDA to represent the technology side of the market, and XLF, XLV & IWM to represent everything else. It tracks where price is within the day's range for each of those symbols, and presents that data in a table and in also in a dot-based "map".
How to use this script:
Using the dot-based map, you can see if all symbols were ever at the highs or lows of their range together. You can use this information to decide which direction you should be trading (ie. with trend). For example, in order for there to be healthy bullish moves in the market, you would want this indicator to show you that all sectors are at the highs or trending in that direction.
What makes this script original:
Most indicators and even the TradingView watchlist measure the percent changed on the day from the closing price of a stock on the prior trading day, essentially telling you what sentiment is since yesterday. This script tells you the sentiment today since it is priced from the opening print. It also provides the map so you can see if they were ever at the highs or lows together throughout the day, which can be an early indicator that the market will trend.
4C Data Table SuiteOverview
The 4C Data Table Suite is a versatile TradingView indicator, designed for traders who focus on the critical role of prior bar levels in their strategy. By highlighting the high and low points of previous bars, this tool aids in pinpointing crucial support and resistance zones, which often act as psychological triggers for market participants. The unique feature of this indicator is its dual-color coding: it colors bars green for bullish closes and red for bearish closes in the Prior Bar Table, and for the current timeframe, it highlights whether the current price is above (green) or below (red) these levels.
Concepts
1 — This sophisticated indicator is not just about visual cues; it provides a rich tableau of data including:
• Current timeframe countdown to bar close
• GMT-adjusted clock for precise trade timing
• Real-time updates on market internals and volatility measures such as the NYSE TICK and ATR
2 — The configuration is highly customizable, allowing users to:
• Adjust the table's positioning and text size
• Choose color settings for text, background, and borders to suit their visual preference
• Toggle the display of various data components based on their trading needs
3 — The Prior Bar Table is particularly valuable for:
• Traders using prior bar levels as triggers for trade entries and exits
• Quick visual assessment of market sentiment
• Real-time decision-making supported by dynamic color coding based on current price movements relative to prior highs and lows
Features
• Prior Bar Levels Table: Visualizes high and low levels of prior bars with intuitive color coding, aiding traders in assessing market trends.
• Dynamic Color Coding: Updates colors based on the closure of the previous bar and current price positions relative to the past bar's highs and lows.
• Comprehensive Market Data: Includes a suite of essential data such as market internals, the prior bar’s range, and the latest price information.
• Customizable Visuals: Offers extensive options for customizing the appearance and data presented, ensuring the tool fits seamlessly into any trader's strategy.
How to Use
1. To add the indicator, search for "4C Data Table Suite" under indicators on TradingView and apply it to your chart.
2. Navigate to the indicator settings to customize the display properties, including table position, color schemes, and which data points to display.
3. Utilize the toggles within the "Prior Bar Levels Table" settings to adjust the visibility and behavior of the table, depending on your trading approach.
Limitations
• This indicator is optimized for use on time-based charts and may not perform as intended on tick charts or non-standard timeframes.
• The color coding is based on the closure of bars, which may not always reflect intrabar movements, potentially affecting real-time decision-making in highly volatile markets.
Notes
• Ensure your TradingView interface is set to the correct timezone settings to align the GMT clock accurately.
• The dynamic color updates are designed to provide at-a-glance insights but should be used in conjunction with other analysis tools for best results.
*If you find that the indicator is blocking some of the candles at the bottom of the screen, go to (Chart) Settings, Canvas, and then adjust the Bottom/Top margin by increasing the % Amount.
Thanks
Special thanks to the TradingView community and developers whose feedback and insights have helped refine the functionalities of the 4C Data Table Suite. Your collaborative spirit is what makes continuous improvement possible.
Normalized and Smoothed Cumulative Delta for Top 5 NASDAQ StocksThis script is designed to create a TradingView indicator called **"Normalized and Smoothed Cumulative Delta for Top 5 NASDAQ Stocks."** The purpose of this indicator is to track and visualize the cumulative price delta (the change in price from one period to the next) for the top five NASDAQ stocks: Apple Inc. (AAPL), Microsoft Corporation (MSFT), Alphabet Inc. (GOOGL), Amazon.com Inc. (AMZN), and Meta Platforms Inc. (FB).
### Key Features of the Script:
1. **Ticker Selection**:
- The script focuses on the top five NASDAQ stocks by automatically setting their tickers.
2. **Price Data Retrieval**:
- It fetches the closing prices for each of these stocks using the `request.security` function for the current timeframe.
3. **Delta Calculation**:
- The script calculates the delta for each stock, which is simply the difference between the current closing price and the previous closing price.
4. **Cumulative Delta Calculation**:
- It calculates the cumulative delta for each stock by adding the current delta to the previous cumulative delta. This helps track the total change in price over time.
5. **Summing and Smoothing**:
- The cumulative deltas for all five stocks are summed together.
- The script then applies an Exponential Moving Average (EMA) with a period of 5 to smooth the summed cumulative delta, making the indicator less sensitive to short-term fluctuations.
6. **Normalization**:
- To ensure the cumulative delta is easy to interpret, the script normalizes it to a range of 0 to 1. This is done by tracking the minimum and maximum values of the smoothed cumulative delta and scaling the data accordingly.
7. **Visualization**:
- The normalized cumulative delta is plotted as a smooth line, allowing users to see the overall trend of the cumulative price changes for the top five NASDAQ stocks.
- A horizontal line is added at 0.5, serving as a midline reference, which can help traders quickly assess whether the normalized cumulative delta is above or below its midpoint.
### Usage:
This indicator is particularly useful for traders and investors who want to monitor the aggregated price movements of the top NASDAQ stocks, providing a high-level view of market sentiment and trends. By smoothing and normalizing the data, it offers a clear and concise visualization that can be used to identify potential market turning points or confirm ongoing trends.
Market Internal Pivots by SyntaxGeekThis indicator combines simple pivot detection with market breadth ratios.
The thought was to show market breadth strength or weakness where price was making potential pivots.
Lookback can be adjusted and currently it supports NYSE and NASDAQ market breadth.
Configuration is limited given the simplicity but live breadth printout can be displayed at current candle.
Max label count is at 500 but the indicator makes use of the visible chart library and will redraw old pivot labels when scrolling back, up to 500.
Considering that market breadth data is only available during RTH, do not expect data during ETH sessions. I've only tested this up to 1hr timeframe so I can't guarantee higher timeframes will present correctly.
Feel free to leave feedback, happy trading!
Support ResistanceThis indicator was written in pine script code, inspired by the L3 Banker Fund Flow Trend Oscillator indicator whose link I gave below.
This indicator is designed to track the flow of banker funds in the market by analyzing price movements and generating entry signals based on specific criteria. It uses a combination of custom functions and moving averages to identify potential points where bankers might be entering the market.
Key Features:
Fund Flow Trend Calculation:
The indicator calculates the fund flow trend using a combination of weighted moving averages. This helps in identifying the overall trend and potential reversals.
Bull Bear Line:
A key component of the indicator is the Bull Bear Line, which is derived from the typical price, lowest low, and highest high over a specified period. This line helps in determining the strength and direction of the market trend.
Banker Entry Signal:
The indicator generates a banker entry signal when the fund flow trend crosses above the Bull Bear Line, and the Bull Bear Line is below 25. This condition is indicative of a potential entry point for bankers.
Visual Representation:
Entry prices and indices for the last five banker entry signals are stored and used to draw dashed lines on the chart, representing these significant levels.
A dynamic rectangle is drawn between the last two entry prices, which extends to the right until the specified conditions are met. The rectangle's color changes from red to green if the price crosses above it by at least one bar, indicating a potential support zone.
Usage:
Trend Identification:
Use the fund flow trend and Bull Bear Line to identify the prevailing market trend and potential reversal points.
Entry Signals:
Pay attention to the banker entry signals as potential points of entry based on institutional fund flow.
Support and Resistance:
The dynamic rectangle can act as a support zone. Monitor price action relative to this rectangle for potential trading opportunities.
This indicator is a powerful tool for traders looking to align their trades with the movements of large institutional players. By understanding and tracking the flow of banker funds, traders can gain valuable insights into market dynamics and make more informed trading decisions.
Market Breadth - AsymmetrikMarket Breadth - Asymmetrik User Manual
Overview
The Market Breadth - Asymmetrik is a script designed to provide insights into the overall market condition by plotting three key indicators based on stocks within the S&P 500 index. It helps traders assess market momentum and strength through visual cues and is especially useful for understanding the proportion of stocks trading above their respective moving averages.
Features
1. Market Breadth Indicators:
- Breadth 20D (green line): Represents the percentage of stocks in the S&P 500 that are above their 20-day moving average.
- Breadth 50D (yellow line): Represents the percentage of stocks in the S&P 500 that are above their 50-day moving average.
- Breadth 100D (red line): Represents the percentage of stocks in the S&P 500 that are above their 100-day moving average.
2. Horizontal Lines for Context:
- Green line at 10%
- Lighter green line at 20%
- Grey line at 50%
- Light red line at 80%
- Dark red line at 90%
3. Background Color Alerts:
- Green background when all three indicators are under 20%, indicating a potential oversold market condition.
- Red background when all three indicators are over 80%, indicating a potential overbought market condition.
Interpreting the Indicator
- Market Breadth Lines: Observe the plotted lines to assess the percentage of stocks above their moving averages.
- Horizontal Lines: Use the horizontal lines to quickly identify important threshold levels.
- Background Colors: Pay attention to background colors for quick insights:
- Green: All indicators suggest a potentially oversold market condition (below 20).
- Red: All indicators suggest a potentially overbought market condition (above 80).
Troubleshooting
- If the indicator does not appear as expected, please contact me.
- This indicator works only on daily and weekly timeframes.
Conclusion
This Market Breadth Indicator offers a visual representation of market momentum and strength through three key indicators, helping you identify potential buying and selling zones.
Last Candle OHLC (Ticks or Points)What the Code Does
1. **Draws Lines and Labels**:
- It draws lines on your chart to show the high, low, open, and close prices from the previous period (like the previous day or week).
- It also labels these lines with numbers that tell you how far the current price is from these levels.
2. **Shows Price Movement**:
- You can see how far the price has moved from these levels in terms of small price changes (ticks) or larger units (points).
- This helps you understand price movements and potential levels of support or resistance.
3. **Customizable**:
- You can choose whether to show these lines and labels, and you can select if you want to see the movement in ticks or points.
- The lines can extend into the future on your chart to help you anticipate where prices might be in the coming days.
### How It’s Useful:
1. **Identify Key Levels**:
- It helps you spot important price levels from past periods, which can act as support or resistance.
2. **Understand Price Movement**:
- You get a visual sense of how much the price has moved from key levels, which can help you gauge market volatility.
3. **Plan Trades**:
- By seeing where the price has been and how it has moved, you can better plan your trades, like deciding where to enter or exit based on these levels.
4. **Flexible for Different Markets**:
- It works across various markets, like stocks, futures, and forex, adjusting to the specific characteristics of each instrument.
In short, this tool helps you visualize and understand past price movements and levels on your chart, aiding in your trading decisions.
Enhanced Alligator Trend Indicator By Er. Parvez HaleemPurpose: The Enhanced Alligator Trend Indicator aims to identify strong and reliable buy and sell signals on the price chart by combining the Alligator Indicator with trend strength and volume filters. It is specifically designed for use on a 1-minute chart to enhance precision in short-term trading decisions.
Components:
Alligator Indicator:
Jaw Line (Blue): Calculated as a simple moving average (SMA) of the closing price over a specified period (default: 13 bars). Represents the long-term trend.
Teeth Line (Red): Calculated as a simple moving average (SMA) of the closing price over a shorter period (default: 8 bars). Represents the medium-term trend.
Lips Line (Green): Calculated as a simple moving average (SMA) of the closing price over an even shorter period (default: 5 bars). Represents the short-term trend.
Trend Strength Indicator:
Relative Strength Index (RSI): Measures the strength of the current trend, using a default period of 14 bars. RSI values above 50 suggest a bullish trend, while values below 50 suggest a bearish trend.
Volume Filter:
Volume Threshold: Filters signals based on trading volume to ensure they only appear when volume exceeds a specified threshold (default: 100,000). This helps to avoid low-volume noise and enhance signal reliability.
Additional Trend Filters:
Short-Term SMA: A simple moving average with a default period of 20 bars, used to assess short-term trend direction.
Long-Term SMA: A simple moving average with a default period of 50 bars, used to assess long-term trend direction.
SMA Crossover: A bullish crossover occurs when the short-term SMA is above the long-term SMA, and a bearish crossover occurs when the short-term SMA is below the long-term SMA.
Signal Generation:
Buy Signal: Generated when:
The Lips line is above the Teeth line, and the Teeth line is above the Jaw line (indicating a bullish alignment in the Alligator Indicator).
The RSI is above 50 (indicating strong bullish trend strength).
The trading volume exceeds the specified volume threshold (indicating sufficient trading activity).
The short-term SMA is above the long-term SMA (confirming a bullish trend).
Sell Signal: Generated when:
The Lips line is below the Teeth line, and the Teeth line is below the Jaw line (indicating a bearish alignment in the Alligator Indicator).
The RSI is below 50 (indicating strong bearish trend strength).
The trading volume exceeds the specified volume threshold (indicating sufficient trading activity).
The short-term SMA is below the long-term SMA (confirming a bearish trend).
Plotting on Chart:
Alligator Lines: The Jaw, Teeth, and Lips lines are plotted directly on the price chart in blue, red, and green, respectively, to indicate the long-term, medium-term, and short-term trends.
Buy/Sell Signals: Buy signals are plotted below the price bars in green, and sell signals are plotted above the price bars in red. These signals are marked with labels ("BUY" and "SELL") to clearly indicate trading opportunities.
Debugging: RSI and SMA lines are plotted but hidden by default. They can be revealed for verification purposes to ensure the correctness of the indicator’s calculations.
Alerts:
Buy Alert: Triggers when a buy signal condition is met, sending a notification that a buy opportunity has been identified.
Sell Alert: Triggers when a sell signal condition is met, sending a notification that a sell opportunity has been identified.
High Low Lines (500 candle 5min)This TradingView script is designed to visualize the highest high and the lowest low from the previous 576 candles on the chart. It draws horizontal lines representing these values and updates them at a specific time each day.
Prospect Theory IndicatorProspect Theory Indicator
This indicator is designed based on Prospect Theory, which was developed by Nobel laureates Daniel Kahneman and Amos Tversky. Prospect Theory explains how people make decisions involving risk and uncertainty, highlighting their tendency to value potential losses more than equivalent gains and their focus on relative gains and losses rather than absolute outcomes.
Features:
1. Reference Points: The indicator calculates and displays the highest and lowest prices over a specified period (default is 14 periods). These are the reference points used to evaluate current price movements.
2. Risk/Reward Ratio: It calculates the risk/reward ratio by comparing the current price to the reference points. The risk is defined as the distance to the lowest point, and the reward as the distance to the highest point.
3. Visual Indicators:
• Green Line: Indicates the highest reference point (High Reference Point).
• Red Line: Indicates the lowest reference point (Low Reference Point).
• Green Triangle: Displays when the reward outweighs the risk, suggesting a favorable condition for entering a trade.
• Red Triangle: Displays when the risk outweighs the reward, suggesting a cautious approach.
4. Labels: Provides real-time labels showing the risk/reward ratio, and marks the current conditions as “High Risk” or “High Reward” based on the calculated ratio.
Usage:
• Entry Signals: Use green triangles for potential buy entries when the reward is higher than the risk.
• Exit Signals: Use red triangles as a signal to review your positions, as the risk has become higher than the reward.
• Risk Management: Continuously monitor the risk/reward ratio to maintain optimal risk management in your trading strategy.
This indicator helps traders make more informed and objective decisions, mitigating the emotional biases described by Prospect Theory.
Volume Insignts AnalyzerDescription:
The Volume Insight Analyzer is an advanced Pine Script designed for traders who want a comprehensive view of volume dynamics on their charts. This script combines multiple volume-based indicators to help identify key trading opportunities, including significant volume days, volume dry-ups, and pocket pivots.
Key Features:
VDU (Volume Dry-Up) Detection: Automatically identifies and marks days when the volume is significantly below its moving average, helping to spot potential breakout or breakdown points. Customizable volume thresholds allow for tailored analysis based on your trading strategy. The Volume Dry-Up label appears when the volume is substantially below its average level and the price is near a key moving average. This condition indicates a period of equilibrium between supply and demand, suggesting a potential low-risk entry point for traders.
Pocket Pivot Analysis using 5 and 10 Length Pocket Pivots: Highlights days with exceptionally high volume compared to recent history, indicating potential pocket pivots. Visual markers on the chart and volume bars color-coded for 5 and 10-day lengths. Pocket pivot points are identified when the volume on a given day exceeds the maximum volume observed over the past several days. Specifically, a 5-day pocket pivot point is marked when today's volume surpasses the highest selling volume of the last 5 days. A cluster of 5-day pocket pivot points within a base is a strong indicator of stock strength. Similarly, a 10-day pocket pivot point following a Volume Dry-Up (VDU) suggests a potential entry opportunity. Moreover, a pre-existing cluster of 5-day pocket pivot points before a 10-day pocket pivot point provides greater conviction in the trade.
Volume Moving Averages: Set different lengths for primary and secondary moving averages to track volume trends over daily, weekly, and monthly timeframes. Options to display moving average lines on the volume chart.
Volume Visualization:
a. Major and Minor Volume Bars: Option to display bars that are either above or below average volume levels. Adjustable settings to show or hide these bars based on user preference.
b. Volume Bar Coloring: Volume bars are color-coded based on significant volume thresholds, including green for bullish signals, red for bearish signals, and orange for volume dry-ups.
Volume Metrics Table: A customizable table that displays real-time volume metrics including Relative Volume (RVOL), Turnover, and the number of high volume days. The table can be oriented horizontally or vertically and styled according to your theme preferences.
Visual Indicators:
a) Volume Dry-Up (VDU) Labels: Clearly marked VDU events with textual annotations on the chart.
b) Bullish and Bearish Arrows: Arrows indicating potential bullish or bearish closes based on volume analysis, enhancing decision-making.
Customization Options:
a) Dark and Light Theme Support: Toggle between dark and light themes to match your chart settings.
b) Adjustable Parameters: Easily configure input settings such as volume thresholds, MA lengths, and table display options to fit your trading style.
How to Use:
Set Parameters: Adjust the script settings such as volume thresholds, moving average lengths, and display preferences according to your analysis needs.
Analyze Volume Patterns: Use the indicators and visual markers provided by the script to identify significant volume patterns and potential trading signals.
Monitor Metrics: Refer to the volume metrics table for a quick overview of key volume-related statistics and trends.
Make Informed Decisions: Utilize the visual cues and volume data provided by the script to enhance your trading strategy and make more informed decisions.
Disclaimer:
This script is for informational purposes only and should not be considered as trading advice. Use it in conjunction with other analysis tools and consult with a financial advisor if needed. Trading involves risk, and past performance does not guarantee future results.
S&P Short-Range Oscillator**SHOULD BE USED ON THE S&P 500 ONLY**
The S&P Short-Range Oscillator (SRO), inspired by the principles of Jim Cramer's oscillator, is a technical analysis tool designed to help traders identify potential buy and sell signals in the stock market, specifically for the S&P 500 index. The SRO combines several market indicators to provide a normalized measure of market sentiment, assisting traders in making informed decisions.
The SRO utilizes two simple moving averages (SMAs) of different lengths: a 5-day SMA and a 10-day SMA. It also incorporates the daily price change and market breadth (the net change of closing prices). The 5-day and 10-day SMAs are calculated based on the closing prices. The daily price change is determined by subtracting the opening price from the closing price. Market breadth is calculated as the difference between the current closing price and the previous closing price.
The raw value of the oscillator, referred to as SRO Raw, is the sum of the daily price change, the 5-day SMA, the 10-day SMA, and the market breadth. This raw value is then normalized using its mean and standard deviation over a 20-day period, ensuring that the oscillator is centered and maintains a consistent scale. Finally, the normalized value is scaled to fit within the range of -15 to 15.
When interpreting the SRO, a value below -5 indicates that the market is potentially oversold, suggesting it might be a good time to start buying stocks as the market could be poised for a rebound. Conversely, a value above 5 suggests that the market is potentially overbought. In this situation, it may be prudent to hold on to existing positions or consider selling if you have substantial gains.
The SRO is visually represented as a blue line on a chart, making it easy to track its movements. Red and green horizontal lines mark the overbought (5) and oversold (-5) levels, respectively. Additionally, the background color changes to light red when the oscillator is overbought and light green when it is oversold, providing a clear visual cue.
By incorporating the S&P Short-Range Oscillator into your trading strategy, you can gain valuable insights into market conditions and make more informed decisions about when to buy, sell, or hold your stocks. However, always consider other market factors and perform your own analysis before making any trading decisions.
The S&P Short-Range Oscillator is a powerful tool for traders looking to gain insights into market sentiment. It provides clear buy and sell signals through its combination of multiple indicators and normalization process. However, traders should be aware of its lagging nature and potential complexity, and use it in conjunction with other analysis methods for the best results.
Disclaimer
The S&P Short-Range Oscillator is for informational purposes only and should not be considered financial advice. Trading involves risk, and you should conduct your own research or consult a financial advisor before making investment decisions. The author is not responsible for any losses incurred from using this indicator. Use at your own risk.
Stocks Above 5-Day Average (FOMO)Overview
Inspired by Matt Carusos's FOMO indicator, this breadth indicator is designed to provide a visual representation of the percentage of stocks within major indices that are trading above their 5-day moving average.
Functionality
The indicator plots the percentage of stocks trading above their 5-day moving average for the following indices:
S&P 500
Nasdaq
Russell 2000
Dow Jones
All Markets (MMFD)
The indicator includes two horizontal lines:
Upper Threshold: Default at 85%
Lower Threshold: Default at 15%
These lines are used to identify potential overbought (above upper threshold) or oversold (below lower threshold) conditions.
Plot Shapes:
Small circles are plotted at the points where the percentage of stocks crosses the upper or lower thresholds, with colors matching the respective index.
Table:
The current percentage of stocks above the 5-day average for each index.
A warning sign (⚠️) is shown in the table if the percentage crosses the upper or lower threshold, regardless of whether the index plot is enabled or not.
Six PillarsGeneral Overview
The "Six Pillars" indicator is a comprehensive trading tool that combines six different technical analysis methods to provide a holistic view of market conditions.
These six pillars are:
Trend
Momentum
Directional Movement (DM)
Stochastic
Fractal
On-Balance Volume (OBV)
The indicator calculates the state of each pillar and presents them in an easy-to-read table format. It also compares the current timeframe with a user-defined comparison timeframe to offer a multi-timeframe analysis.
A key feature of this indicator is the Confluence Strength meter. This unique metric quantifies the overall agreement between the six pillars across both timeframes, providing a score out of 100. A higher score indicates stronger agreement among the pillars, suggesting a more reliable trading signal.
I also included a visual cue in the form of candle coloring. When all six pillars agree on a bullish or bearish direction, the candle is colored green or red, respectively. This feature allows traders to quickly identify potential high-probability trade setups.
The Six Pillars indicator is designed to work across multiple timeframes, offering a comparison between the current timeframe and a user-defined comparison timeframe. This multi-timeframe analysis provides traders with a more comprehensive understanding of market dynamics.
Origin and Inspiration
The Six Pillars indicator was inspired by the work of Dr. Barry Burns, author of "Trend Trading for Dummies" and his concept of "5 energies." (Trend, Momentum, Cycle, Support/Resistance, Scale) I was intrigued by Dr. Burns' approach to analyzing market dynamics and decided to put my own twist upon his ideas.
Comparing the Six Pillars to Dr. Burns' 5 energies, you'll notice I kept Trend and Momentum, but I swapped out Cycle, Support/Resistance, and Scale for Directional Movement, Stochastic, Fractal, and On-Balance Volume. These changes give you a more dynamic view of market strength, potential reversals, and volume confirmation all in one package.
What Makes This Indicator Unique
The standout feature of the Six Pillars indicator is its Confluence Strength meter. This feature calculates the overall agreement between the six pillars, providing traders with a clear, numerical representation of signal strength.
The strength is calculated by considering the state of each pillar in both the current and comparison timeframes, resulting in a score out of 100.
Here's how it calculates the strength:
It considers the state of each pillar in both the current timeframe and the comparison timeframe.
For each pillar, the absolute value of its state is taken. This means that both strongly bullish (2) and strongly bearish (-2) states contribute equally to the strength.
The absolute values for all six pillars are summed up for both timeframes, resulting in two sums: current_sum and alternate_sum.
These sums are then added together to get a total_sum.
The total_sum is divided by 24 (the maximum possible sum if all pillars were at their strongest states in both timeframes) and multiplied by 100 to get a percentage.
The result is rounded to the nearest integer and capped at a minimum of 1.
This calculation method ensures that the Confluence Strength meter takes into account not only the current timeframe but also the comparison timeframe, providing a more robust measure of overall market sentiment. The resulting score, ranging from 1 to 100, gives traders a clear and intuitive measure of how strongly the pillars agree, with higher scores indicating stronger potential signals.
This approach to measuring signal strength is unique in that it doesn't just rely on a single aspect of price action or volume. Instead, it takes into account multiple factors, providing a more robust and reliable indication of potential market moves. The higher the Confluence Strength score, the more confident traders can be in the signal.
The Confluence Strength meter helps traders in several ways:
It provides a quick and easy way to gauge the overall market sentiment.
It helps prioritize potential trades by identifying the strongest signals.
It can be used as a filter to avoid weaker setups and focus on high-probability trades.
It offers an additional layer of confirmation for other trading strategies or indicators.
By combining the Six Pillars analysis with the Confluence Strength meter, I've created a powerful tool that not only identifies potential trading opportunities but also quantifies their strength, giving traders a significant edge in their decision-making process.
How the Pillars Work (What Determines Bullish or Bearish)
While developing this indicator, I selected and configured six key components that work together to provide a comprehensive view of market conditions. Each pillar is set up to complement the others, creating a synergistic effect that offers traders a more nuanced understanding of price action and volume.
Trend Pillar: Based on two Exponential Moving Averages (EMAs) - a fast EMA (8 period) and a slow EMA (21 period). It determines the trend by comparing these EMAs, with stronger trends indicated when the fast EMA is significantly above or below the slow EMA.
Directional Movement (DM) Pillar: Utilizes the Average Directional Index (ADX) with a default period of 14. It measures trend strength, with values above 25 indicating a strong trend. It also considers the Positive and Negative Directional Indicators (DI+ and DI-) to determine trend direction.
Momentum Pillar: Uses the Moving Average Convergence Divergence (MACD) with customizable fast (12), slow (26), and signal (9) lengths. It compares the MACD line to the signal line to determine momentum strength and direction.
Stochastic Pillar: Employs the Stochastic oscillator with a default period of 13. It identifies overbought conditions (above 80) and oversold conditions (below 20), with intermediate zones between 60-80 and 20-40.
Fractal Pillar: Uses Williams' Fractal indicator with a default period of 3. It identifies potential reversal points by looking for specific high and low patterns over the given period.
On-Balance Volume (OBV) Pillar: Incorporates On-Balance Volume with three EMAs - short (3), medium (13), and long (21) periods. It assesses volume trends by comparing these EMAs.
Each pillar outputs a state ranging from -2 (strongly bearish) to 2 (strongly bullish), with 0 indicating a neutral state. This standardized output allows for easy comparison and aggregation of signals across all pillars.
Users can customize various parameters for each pillar, allowing them to fine-tune the indicator to their specific trading style and market conditions. The multi-timeframe comparison feature also allows users to compare pillar states between the current timeframe and a user-defined comparison timeframe, providing additional context for decision-making.
Design
From a design standpoint, I've put considerable effort into making the Six Pillars indicator visually appealing and user-friendly. The clean and minimalistic design is a key feature that sets this indicator apart.
I've implemented a sleek table layout that displays all the essential information in a compact and organized manner. The use of a dark background (#030712) for the table creates a sleek look that's easy on the eyes, especially during extended trading sessions.
The overall design philosophy focuses on presenting complex information in a simple, intuitive format, allowing traders to make informed decisions quickly and efficiently.
The color scheme is carefully chosen to provide clear visual cues:
White text for headers ensures readability
Green (#22C55E) for bullish signals
Blue (#3B82F6) for neutral states
Red (#EF4444) for bearish signals
This color coding extends to the candle coloring, making it easy to spot when all pillars agree on a bullish or bearish outlook.
I've also incorporated intuitive symbols (↑↑, ↑, →, ↓, ↓↓) to represent the different states of each pillar, allowing for quick interpretation at a glance.
The table layout is thoughtfully organized, with clear sections for the current and comparison timeframes. The Confluence Strength meter is prominently displayed, providing traders with an immediate sense of signal strength.
To enhance usability, I've added tooltips to various elements, offering additional information and explanations when users hover over different parts of the indicator.
How to Use This Indicator
The Six Pillars indicator is a versatile tool that can be used for various trading strategies. Here are some general usage guidelines and specific scenarios:
General Usage Guidelines:
Pay attention to the Confluence Strength meter. Higher values indicate stronger agreement among the pillars and potentially more reliable signals.
Use the multi-timeframe comparison to confirm signals across different time horizons.
Look for alignment between the current timeframe and comparison timeframe pillars for stronger signals.
One of the strengths of this indicator is it can let you know when markets are sideways – so in general you can know to avoid entering when the Confluence Strength is low, indicating disagreement among the pillars.
Customization Options
The Six Pillars indicator offers a wide range of customization options, allowing traders to tailor the tool to their specific needs and trading style. Here are the key customizable elements:
Comparison Timeframe:
Users can select any timeframe for comparison with the current timeframe, providing flexibility in multi-timeframe analysis.
Trend Pillar:
Fast EMA Period: Adjustable for quicker or slower trend identification
Slow EMA Period: Can be modified to capture longer-term trends
Momentum Pillar:
MACD Fast Length
MACD Slow Length
MACD Signal Length These can be adjusted to fine-tune momentum sensitivity
DM Pillar:
ADX Period: Customizable to change the lookback period for trend strength measurement
ADX Threshold: Adjustable to define what constitutes a strong trend
Stochastic Pillar:
Stochastic Period: Can be modified to change the sensitivity of overbought/oversold readings
Fractal Pillar:
Fractal Period: Adjustable to identify potential reversal points over different timeframes
OBV Pillar:
Short OBV EMA
Medium OBV EMA
Long OBV EMA These periods can be customized to analyze volume trends over different timeframes
These customization options allow traders to experiment with different settings to find the optimal configuration for their trading strategy and market conditions. The flexibility of the Six Pillars indicator makes it adaptable to various trading styles and market environments.
Daily Range + Asia Liquidity + FVG + silver Bullet sessionIndicator Description :
This indicator combines several trading concepts to provide an overall view of intraday selling opportunities. It includes the following elements:
Daily Range:
Measures the daily price range between the highest and lowest points of the day.
Helps understand daily volatility and identify potential support and resistance levels.
Asia Liquidity:
Analyzes price movements and volumes during the Asian session (usually from 00:00 to 08:00 GMT).
Identifies liquidity levels where the price has reacted during this period, providing clues on where significant orders are concentrated.
FVG (Fair Value Gap):
A trading concept that identifies areas where the price has moved quickly, creating a "gap" or empty space on the chart.
These areas are often revisited by the price, which can provide potential entry or exit points.
Silver Bullet Session:
Refers to a specific period of the day where a particular strategy or setup is expected to occur. For example, this could be a period where price movements are historically more predictable or volatile.
This session particularly targets price movements that attract sellers.
Using the Indicator
Identifying Selling Levels:
Combine the daily range levels with the liquidity zones identified during the Asian session to spot levels where sellers might be interested.
Use the fair value gaps (FVG) to identify areas where the price might return, providing entry or exit points for selling positions.
Silver Bullet Session:
Focus on this period to observe price movements and reactions to the levels identified earlier.
Look for selling signals (e.g., bearish reversal candlesticks or continuation patterns) during this session to maximize selling opportunities.
Objective :
The objective of this indicator is to provide a systematic approach to identifying selling opportunities based on multiple technical and temporal elements. By combining daily volatility, liquidity levels, value gaps, and specific trading periods, this indicator helps traders pinpoint potential selling points with greater accuracy.
Macro Risk On/Off SentimentOverview
As an Ichimoku trader, I've always found it crucial to understand the broader market sentiment before entering trades. That's why I developed this Macro Risk On/Off Sentiment Indicator. It's designed to provide a comprehensive view of global market risk sentiment by analysing multiple factors across different asset classes. By combining nine key market indicators, it produces an overall risk sentiment score, giving me a clearer picture of the market's mood before I apply my Ichimoku strategy.
Rationale
While Ichimoku is powerful for identifying trends and potential entry points, I realised it doesn't always capture the broader market context. Markets don't exist in isolation—they're influenced by a myriad of factors including volatility, economic indicators, and cross-asset relationships. By creating this indicator, I aimed to fill that gap, providing myself with a macro view that complements my Ichimoku analysis.
How It Works
The indicator analyses nine different market factors:
VIX (Volatility Index): Measures market expectations of near-term volatility.
S&P 500 Performance: Represents the overall US stock market performance.
US 10-Year Treasury Yield: Indicates bond market sentiment and economic outlook.
Gold Price Movement: Often seen as a safe-haven asset.
US Dollar Index: Measures the strength of the USD against a basket of currencies.
Emerging Markets Performance: Represents risk appetite for higher-risk markets.
High Yield Bond Spreads: Indicates credit market risk sentiment.
Copper/Gold Ratio: An economic growth indicator.
Put/Call Ratio: Measures overall market sentiment based on options trading.
Each factor is assigned a score based on its z-score relative to its recent history, then weighted according to its perceived importance. The overall risk score is a weighted average of these individual scores.
How I Use It
Before applying my Ichimoku strategy, I first check this indicator to gauge the overall market sentiment:
I look at the blue line plotted on the chart, which represents the overall risk score.
I note the background colour: green for risk-on (positive score) and red for risk-off (negative score).
I check the label in the lower-left corner, which provides specific FX pair recommendations and market expectations.
In a risk-on environment (positive score):
I focus on long positions in AUD/JPY, NZD/JPY, EUR/USD, etc.
I look for short opportunities in USD/CAD, USD/NOK, etc.
I expect commodities and yields to rise
In a risk-off environment (negative score):
I focus on long positions in USD/JPY, USD/CHF, USD/CAD
I look for short opportunities in AUD/USD, NZD/USD, EUR/USD
I expect increased volatility and falling yields
The strength of the sentiment is reflected in how close the score is to either 1 (strong risk-on) or -1 (strong risk-off). This helps me gauge how aggressive or conservative I should be with my Ichimoku trades.
Customisation
I've designed this indicator to be flexible. You can modify it to:
Adjust the lookback period and moving average length (both default to 30)
Change the weighting of different factors in the final score calculation
Include or exclude specific factors based on your analysis needs
By combining this Macro Risk On/Off Sentiment Indicator with my Ichimoku analysis, I've found I can make more informed trading decisions, taking into account both the technical setups I see on the chart and the broader market context.
PI indicatorOpening 5-Minute Range Candle (A):
This represents the price range during the first 5 minutes of the trading day.
You can plot this as a vertical line connecting the high and low of the 5-minute candle.
Additionally, you can display the range values (high and low) as labels or in a table.
Multiply Opening Range Candle (A) with π (PI) Value (B):
Calculate the product of the opening range candle (A) and the value of π (approximately 3.14).
Plot this value as a line on the chart.
Optionally, you can label this line with the calculated value.
Divide B by 2 ©:
Divide the value obtained in step 2 (B) by 2.
Plot this value as another line on the chart.
You can also label this line with the calculated value.
Add C to A (D):
Sum the value of C (from step 3) with the opening range candle (A).
Plot this sum as a line on the chart.
Label this line accordingly.
Add C to D (E):
Add the value of C (from step 3) to the value of D (from step 4).
Plot this sum as another line on the chart.
Label it appropriately.
Add D to E (F):
Finally, add the value of D (from step 4) to the value of E (from step 5).
Plot this sum as a line with a distinct style (e.g., dashed or dotted) on the chart.
Label this line as well.
Remember that these steps involve mathematical calculations and plotting lines on the chart. You can customize the appearance (color, style, thickness) of each line and label according to your preferences. Additionally, consider adjusting the time frame to accurately capture the opening 5-minute range at 9:20:50 am.
