Hello again all my Trading View friends! This script is a variation of my other script "Universal Longs Vs. Shorts - Percentage (Any Symbol)" It allows you to choose ANY symbol and plot the ratio against ANY other symbol, as an indicator on your given pair. It is primarily used as an indicator of longs/shorts as well as shorts/longs as a ratio to each other....
Hello all my Trading View friends!! This script allows you to choose ANY symbol and plot the ratio against ANY other symbol, as an indicator on your given pair. It is primarily used as an indicator of longs/shorts as well as shorts/longs as a percentage of total longs + shorts. For example, you could plot BITFINEX:BTCUSDLONGS against BITFINEX:BTCUSDSHORTS. ...
The aim of this indicator is to indicate effective volume breakouts. Blue = Volume is at least 25% above the 20d moving average Purple = Volume is at least twice as much as the 20d moving average Red = Volume is at least three times the average My recommendation : Always watch for breakouts on large volume. That's a sign that big institutions are buying.